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The endless search for a crypto use case

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Re: The endless search for a crypto use case

#101

Post by aerovistae »

anonymoushn wrote: post #72

Currently we've hired more than 0 people through a global outsourcing company. The outsourcing company sends us invoices, we wire them dollars, they charge us 3% on top of extremely bad forex rates plus 10% for their services, then a local company who's hired "our staff" processes payroll, pays local taxes and insurance, etc. The whole process of getting the money to the recipient takes days to a month. Currently we…

The specifier "more than 0" strikes me as odd. Both sentences would have been the same without it.

> we've hired people through a global outsourcing company

> we have staff who have been displaced by a war

Re: The endless search for a crypto use case

#102

Post by bootlooped »

tremarley wrote: post #78
yaseer wrote: post #39

I'm reminded of the pictures of New York in 1900 and 1913. Within those 13 years, the car had changed the world. https://www.businessinsider.com/5th-ave-1900-vs-1913-2011-3?... The iPhone and smartphone revolution clearly did the same, last decade. We're now 14 years into Bitcoin. Is it ever likely to change the world the same way?

It has changed the world already. Many countries buy and stockpile bitcoin, similar to what they do with gold. This currency was made by a bloke on computer 14 years ago, and has revolutionised the way we view ownership, freedoms and money.

For the majority of people on earth, it has not changed their lives in any meaningful way. Their lives may in fact be indistinguishable from an alternate reality where crypto was never invented.

Re: The endless search for a crypto use case

#103

Post by EGreg »

xadhominemx wrote: post #38
game-of-throws wrote: post #32

Earlier quoted context omitted.

My theory is that the likelihood someone understands the use cases is inversely correlated to their trust in government. For example: https://www.bbc.com/news/business-60912789 These articles all follow a common pattern. 1. The trigger – Inflation/distrust in government/bank withdrawal restrictions/paypal freezes your funds/country is at war/etc 2. The response – People gravitate towards a system that is resilient to…

You still have no answer for the crypto on/off ramp issue.

We do. It's called people accepting cryptocurrencies in exchange for goods and services. Here is the roadmap: https://intercoin.org/communities.pdf

Re: The endless search for a crypto use case

#104

Post by kardianos »

GNU Taler https://taler.net/ is the closest thing that I personally want of crypto, which is electronic cash (NOT a centralized bank currency).

Yes, I like paying by card. No, I don't like it making everything I do traceable.

I do want to live in a sovereign nation. Probate court and criminal court orders are important. But make it generally really hard for governments to interfere legally, and prevent technically the casual inspection of data.

Re: The endless search for a crypto use case

#105

Post by karlkeefer »

yaseer wrote: post #39

I'm reminded of the pictures of New York in 1900 and 1913. Within those 13 years, the car had changed the world. https://www.businessinsider.com/5th-ave-1900-vs-1913-2011-3?... The iPhone and smartphone revolution clearly did the same, last decade. We're now 14 years into Bitcoin. Is it ever likely to change the world the same way?

That's a pretty high bar

Benz made the first car in 1886, which in your analogy means today is 1900.

I will be curious to see how crypto holds up in recession or under monetary crisis.

One of the reasons it was created hasn't really been tested, since the economy in the west hasn't faced a major crisis since its invention.

It seems plausible (if unlikely) that external events could push crypto adoption into more "normal" use cases. E.g. Israel's recent ban on cash transactions points to one way more things may become untenable in traditional finance.

I don't actually have strong opinions on what will happen - I do find your analogy fun to think about though!

Re: The endless search for a crypto use case

#106

Post by cuteboy19 »

tremarley wrote: post #88
whitepaint wrote: post #69

Ens domains, PoolTogether, Aave and more: https://ethereum.org/en/dapps/ Have these people writing these kind of articles ever downloaded a browser wallet and played around with Defi? The amount of ignorance here is staggering. How is it on HN? HN is supposed to be a place for people who are tech savvy and are able to think about the future and imagine it different from yesterday.

The same thing confuses me. This is meant to be a feed for tech savvy people. It seems as though, the majority of HN users haven't invested any time into understanding it. So they just label it bad.

Please do not assume this. The people who criticize crypto generally know more than the people relentlessly shilling it. Do not mindlessly repeat the "few understand" trope

Re: The endless search for a crypto use case

#107

Post by k__ »

The SSI/DID initiatives of w3c seem to do pretty well.

Filecoin looks good too.

Industries like porn should also profit from a system that doesn't allow for chargebacks. Porn was a huge driver in the past.

Re: The endless search for a crypto use case

#108

Post by cuteboy19 »

bnchrch wrote: post #11

I mean I see two clear use cases. 1. Transferring funds I can transfer crypto faster and a lot cheaper than any money transfer. Hell I can receive and withdraw same day. 2. Earning interest By parking my money in a stable coin and dropping it into an AMM like uniswap I can earn 10x-50x more interest than just parking it in my bank account. No volatility. Only risk is hacker risk.

Where does the interest come from?

Re: The endless search for a crypto use case

#109

Post by SomeCallMeTim »

immigrantheart wrote: post #99
game-of-throws wrote: post #32

Earlier quoted context omitted.

My theory is that the likelihood someone understands the use cases is inversely correlated to their trust in government. For example: https://www.bbc.com/news/business-60912789 These articles all follow a common pattern. 1. The trigger – Inflation/distrust in government/bank withdrawal restrictions/paypal freezes your funds/country is at war/etc 2. The response – People gravitate towards a system that is resilient to…

This is the only right answer. Pack it up. For real, every time I try to answer my I do crypto, often people just don't understand. They just don't. They just don't understand why I don't trust entities. If you don't understand this, then you don't understand crypto. Period. There is no other debate necessary. Period. Full stop. We go on our own way. Full stop.

The problem is that crypto doesn't really solve those problems either. As the article says far more eloquently.

I understand that you are saying you were burned by a central authority. But the truth is that the only way to get everything to work is with a central authority. The article gives examples of crypto being fully reliant on central authorities, for instance.

Everything being done by crypto today could be done better by trusted companies putting together a semi-open peering arrangement that both doesn't waste pointless electricity and that doesn't allow just any potentially hostile actor join the group of authorized peers.

Re: The endless search for a crypto use case

#110

Post by Retric »

sudden_dystopia wrote: post #8

There is only one use case and that is the originally intended use, as a currency completely decoupled from any one country’s monetary meddling and thus liberating the populace from poor central planners and/or authoritarians. That’s it. That’s all there is to it.

Swapping to any other currency provides the same benefits. USD or Euros have frequently been used in place of several nations currency for decades.

As such it’s not a crypto specific benefit.

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