Decentralized Woo Hoo

Post by koonsolo » Tue, Nov 16, 2021, 5:51 PM UTC

somenewaccount1 wrote: post #165

With El Salvadors requirement that businesses accept Bitcoin, I have come to believe that just about every 3rd world nation without significant military will eventually do the same. Why? Because having your countries currency pegged to the bitcoin is better than being pegged to the dollar. Pegged to the dollar allows the US and allies to devalue your currency to nothing almost immediately. Bitcoin is more risilient t…

Post by quantified » Tue, Nov 16, 2021, 5:52 PM UTC

shoto_io wrote: post #118

cslarson wrote: post #103

> Yet if we value these assets in terms of traditional valuation models we find they should be worth absolutely nothing. This is the core tenet that these skeptics get lost with - the premise that there is no real central value to blockchain technology. It is a lost and shallow view made by people who have chosen not to engage or understand what they espouse on. Maybe this person just has too much to lose from change…

I've been a huge skeptic myself until a friend almost forced me into going down the rabbit hole. I have since been wondering why we tech people are so unbelievably critical. "There is no use-case." and "It's a technology looking for a problem" are common phrases. I have no answer. Just a thought: for someone living in the 90s, wouldn't something like Facebook have been also very difficult to conceive? "What's the val…

Post by JackFr » Tue, Nov 16, 2021, 5:53 PM UTC

didericis wrote: post #157

api wrote: post #124

Earlier quoted context omitted.

Not everyone got the web, chat, or social networks, but loads of people did and people from all backgrounds. Things like Geocities, AIM, MySpace, early Facebook, early search engines, etc. had millions of users very rapidly. They penetrated beyond the tech-savvy early adopters within years. Cryptocurrency is more than 10 years old and hasn't seen anything like this. The vast majority of what I see in cryptocurrency i…

There are huge regulatory and societal roadblocks for crypto to be used as envisioned not as present during those other cases of wide technological adoption. For crypto to be valuable, merchants need to use it. Transactions need to be cheaper. A stable decentralized financial system needs to emerge. The use case is a world without central banks and central currency manipulation. People who don’t see the use case don’…

Post by JackFr » Tue, Nov 16, 2021, 5:57 PM UTC

throwaway6977 wrote: post #152

api wrote: post #124

Earlier quoted context omitted.

Not everyone got the web, chat, or social networks, but loads of people did and people from all backgrounds. Things like Geocities, AIM, MySpace, early Facebook, early search engines, etc. had millions of users very rapidly. They penetrated beyond the tech-savvy early adopters within years. Cryptocurrency is more than 10 years old and hasn't seen anything like this. The vast majority of what I see in cryptocurrency i…

I strongly suggest doing a comparison of O(log n)-style adoption curves between Bitcoin, and say- cell phones, computer networking, or really any innovation that became ubiquitous and for which we have the data... I think you'd be surprised at the similarities.

Post by koonsolo » Tue, Nov 16, 2021, 5:57 PM UTC

Xorlev wrote: post #27

capableweb wrote: post #11

Earlier quoted context omitted.

That centralized exchanges exists doesn't somehow make decentralized cryptocurrencies less decentralized. Just like how centralized social media doesn't make decentralized social media less decentralized.

Crytocurrencies are effectively useless without centralized exchanges. Change my mind. Social media doesn't need to interop between centralized and decentralized, but currencies do if they want to be useable. At the end of the day, someone will want to actually _buy_ something, and unfortunately I can't go to Petco and use my Dogecoin to buy dogfood.