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Money corrupts; bitcoin corrupts absolutely

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Re: Money corrupts; bitcoin corrupts absolutely

#31

Post by wmf »

rawtxapp wrote: post #22
gnrlst wrote: post #19

The community around Bitcoin is one of the most toxic. It's the main reason I haven't bought, and won't buy, any BTC (regardless of the fact I think the tech is completely subpar). Having said that, there's plenty of really great communities around crypto that shouldn't be pooled together along with Bitcoin. Nano, for example, is probably the most hated altcoin by Bitcoin maximalists (probably because they feel threa…

> The community around Bitcoin is one of the most toxic. If you go on places like Twitter and reddit somewhat, I agree with you. But if you look on Github, you'll see some of the smartest engineers of our generation working real hard and I wouldn't discount their work based on some loud mouths on social networks.

Those engineers are so smart they refuse to scale Bitcoin.

Re: Money corrupts; bitcoin corrupts absolutely

#32

Post by matheusmoreira »

gnrlst wrote: post #19

The community around Bitcoin is one of the most toxic. It's the main reason I haven't bought, and won't buy, any BTC (regardless of the fact I think the tech is completely subpar). Having said that, there's plenty of really great communities around crypto that shouldn't be pooled together along with Bitcoin. Nano, for example, is probably the most hated altcoin by Bitcoin maximalists (probably because they feel threa…

Why even be part of these communities? It's possible to buy cryptocurrency and avoid all the hype and negativity.

Re: Money corrupts; bitcoin corrupts absolutely

#33

Post by MuffinFlavored »

gnrlst wrote: post #19

The community around Bitcoin is one of the most toxic. It's the main reason I haven't bought, and won't buy, any BTC (regardless of the fact I think the tech is completely subpar). Having said that, there's plenty of really great communities around crypto that shouldn't be pooled together along with Bitcoin. Nano, for example, is probably the most hated altcoin by Bitcoin maximalists (probably because they feel threa…

> regardless of the fact I think the tech is completely subpar

> Bitcoin uses the Hashcash proof of work system.

Do you feel that way about all proof of work systems? Do you prefer proof of stake instead? Can you elaborate on what you find subpar about the tech surrounding Bitcoin?

Re: Money corrupts; bitcoin corrupts absolutely

#34

Post by 8fGTBjZxBcHq »

leesalminen wrote: post #12
wolfretcrap wrote: post #7

Problem with bitcoin is there's no way to redistribute wealth. How about giving inactive bitcoins to new people? Is it possible? Can you really access the bitcoins that were created at the beginning without updating your bitcoins to latest standards. How do you even update your bitcoin?

> there's no way to redistribute wealth. There are those who would call that a feature, not a bug.

For the people who look around at the current world and think "ah yes, the problem is too much wealth redistribution?"

Re: Money corrupts; bitcoin corrupts absolutely

#35

Post by rawtxapp »

wmf wrote: post #31
rawtxapp wrote: post #22

Earlier quoted context omitted.

> The community around Bitcoin is one of the most toxic. If you go on places like Twitter and reddit somewhat, I agree with you. But if you look on Github, you'll see some of the smartest engineers of our generation working real hard and I wouldn't discount their work based on some loud mouths on social networks.

Those engineers are so smart they refuse to scale Bitcoin.

No, they built some of the most well thought scaling solutions in forms of layer 2 (payment channels, lightning network, zk-rollups) and many other solutions like sharding, etc.

You're the one who refuses to see those solutions.

Re: Money corrupts; bitcoin corrupts absolutely

#36

Post by WanderPanda »

diob wrote: post #21
machinelabo wrote: post #3

We need to fix the loop holes. Money is also an amazing instrument that keeps us motivated. Without the lure of money and its power, we wouldn’t do anything. Startups? Why bother when there is no money involved. I really think if there was one thing we got right - that’s money as a civilization. What we need to do is fix the loop holes. That includes taxes, corporation as persons, the whole 2011 movement of Occupy Wa…

I think basic income solves it nicely. You still get the allure of money (folks want to make more), but they can also now focus on innovation and creative endeavors. It's a win win in my opinion.

I‘m not so sure if nicely is the right term. Mass starvation as an outcome is not off the table I would say

Re: Money corrupts; bitcoin corrupts absolutely

#37

Post by hombre_fatal »

peter422 wrote: post #17

I have thought about this with Bitcoin: if the protocol and potential capabilities are so interesting, why is 99% of the conversation related to Bitcoin about the current price. It does make me believe that greed is the predominant driver of most Bitcoin holders, which to me makes the whole concept a lot less principled than people pretend it is.

Making money and wealth is more interesting to more people than some nerdy engineering crap. Is this a surprise?

Re: Money corrupts; bitcoin corrupts absolutely

#39

Post by bazooka_penguin »

peter422 wrote: post #17

I have thought about this with Bitcoin: if the protocol and potential capabilities are so interesting, why is 99% of the conversation related to Bitcoin about the current price. It does make me believe that greed is the predominant driver of most Bitcoin holders, which to me makes the whole concept a lot less principled than people pretend it is.

Because most of the interesting solutions are alternatives. You have a strange focus just on bitcoin and not the larger crypto ecosystem.

Re: Money corrupts; bitcoin corrupts absolutely

#40

Post by fullshark »

The NFT fad has definitely turned me off as it seems totally bonkers, also the fact that the problem BTC is supposedly solving constantly changes based on whatever gets people to put money into it.

Add to this exchanges / tether printing manipulating the price and i'm pretty bearish on BTC and crypto right now, seems like the only problem they are trying to solve is "how can I become ludicrously rich by writing some code from scratch."

But what if I'm wrong?....

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