221–230 of 341 posts
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What is Musk an expert in? Besides being a rich school boy?
Highly automated car manufacturing and rockets for starters.
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What like a policy that bans extremely energy intensive things that offer no value other than to construct Ponzi schemes at rapid clip? Yeah we need that policy. (Happy to hear what value crypto offers that can’t be done with more energy efficient mechanisms.)
Sorry to break this too you but bitcoin would need to be banned by a serious amount of governments to have any real effect on energy consumption. This is by design. The wiser policy choice is to incentivize the large mining farms in your country to mine on renewables and let a digital gold exist. The point of (good) cryptocurrencies is that they require real energy to coerce. Because of this I’ve felt safe keeping sa…
What's your reason behind believing that? From what I know , Bitcoin mining fell 50% when China banned it [1]. How would that not be similar if the US + EU just bans it tomorrow?
[1] https://www.theblockcrypto.com/post/109315/bitcoin-hashrate-...
>help me make it die in a fire I'm rather mistrustful of people that are this forthy about being against a new technology. If it really is that devoid of merit it'll die on its own. I also think it is a rather fundamental failure to see the big picture. Not efficient? Well neither was the Ford model T. Newer generations are getting better. Similarly somehow existing systems seem to get a free pass for things that are…
> I'm rather mistrustful of people that are this forthy about being against a new technology. I don't really give a crap about what people do or don't do with new technology, ultimately what people want to spend their time and money on is up to them. However, "Crypto" is different. If all it was was just the unbelievably irritating crypto bros rug pulling, ponzi scheming, wash trading, ugly NFT shilling and hacking a…
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I spend a lot of time on the internet but I have never bumped into a cursed crytpo bro without seeking them out. Where are you being accosted by them?
Perhaps, fartcannon, you have just been lucky. They pop up in my twitter feed pretty regularly. However, the main point was that I don't want to deal with them, and under normal circumstances I could just ignore the relatively minimal interactions I have with them. But because I am effectively fighting back against /their/ externalities affecting me I have to seek them out. To learn about their hobbies, to find out a…
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It is like a viral infection. Once somebody spends $400,000 on an ugly ape and then found they spent their money for nothing, they will become a permanent enemy of crypto. It’s just a matter of time before you join us (crypto haters) the difference is that some of us knew it was a scam right away and others will have to learn it the hard way.
> the difference is that some of us knew it was a scam right away Jeez, you must be a very rich man by now, with all the extensive shorting of crypto this amazing early insight must have allowed you to execute. Congratulations.
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I don't see any cryptocoins that I regard as a success, but I am watching three that might be a success: 1. Filecoin: It was well-motivated from the start, to provide a cheap way to get counterparties (by default, a multiple of six) to pin content in IPFS. I don't regard it as a proven technology yet, but it's usable as it stands; 2. Brave's BATs: Brave annoys me with its cryptocoin boosterism, but in principle this…
I'm not sure what your point is here. Interesting as these things might be I honestly don't care about in the context of the argument over wether power wasting networks such as btc and eth are a good idea.
> WEAVER: Yes. So let’s take the cost of a transaction. The cost of a transaction in cryptocurrency systemically is the amount being used to protect it. I could build a system that would have the same throughput as Bitcoin, three to seven transactions per second, but with a centralized trusted entity. In fact, not even a centralized trusted entity. Ten trusted entities, only six of which need to be honest, because I…
Maybe he's a genius and solved distributed Byzantine generals with a single light bulb and majority voting?
Let me make a different point:
I mean think about it for "legal" (legal unrelated to ethical) use-cases a federated systems of banks and maybe some external non-bank validators is good enough, by far.
Not "legal" use-cases are not legal and as such them not being supported is in the interest of the state you use them in.
Many of ethical good use-cases of crypto currency are not "legal", ethical yes but not legal anyway.
Like circumventing suppression in totalitarian states.
The problem is for each state by themself a "Byzantine considering" crypto currency is not in their interest. It can be use-full to help people in totalitarian states, but then this states can also use it to help extremist groups in your state while forbidding crypto currencies internally. So... not necessary the best choice.
Now federated not fully "Byzantine considering" crypto currencies are a different thing altogether. Like use bitcoing but replace PoW with PoS except the validators are predetermined banks with most in your country (or union like the EU, they might still stack money as collateral) and from a state view the problems are mostly gone/manageable (from a legal/state POV) and you get most of the technical innovation you want (I mean it is 99% the same tech minus "Byzantine considering" and maybe minus some privacy protections).
Now I'm not saying it's ethical good (or bad) for states to ban crypto.
But I am saying that from a purely objective non-ethic-considering view for most states it's best to just ban fully "Byzantine considering" privacy protecting crypto.
>help me make it die in a fire I'm rather mistrustful of people that are this forthy about being against a new technology. If it really is that devoid of merit it'll die on its own. I also think it is a rather fundamental failure to see the big picture. Not efficient? Well neither was the Ford model T. Newer generations are getting better. Similarly somehow existing systems seem to get a free pass for things that are…
> I'm rather mistrustful of people that are this forthy about being against a new technology. I don't really give a crap about what people do or don't do with new technology, ultimately what people want to spend their time and money on is up to them. However, "Crypto" is different. If all it was was just the unbelievably irritating crypto bros rug pulling, ponzi scheming, wash trading, ugly NFT shilling and hacking a…