41–50 of 150 posts
Earlier quoted context omitted.
It's called communism and everytime it's tried it ends in genocide and hundreds of millions murdered.
No, it's called absolute automation, and it's hard but possible within realm of capitalism.
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?
Could you access your money in the bank if you refused to update their app? Or if you refused to use technology more modern than a carrier pigeon? Or what if you refused to update your drivers license?
Which is to say: Your examples have a strong stink of survival bias. There are endless examples of technologies which failed, even where proponents were being heavily that they would be world changing.
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…
I think the author needs to integrate into these arguments the Nixon Shock of 1971 and what’s happening with inflation in the US since 2008. There’s a reason the Dow just hit a record high and it’s not because the fundamentals of those firms are strong. I’m not a Bitcoin holder but the correct finger pointing here is at monetary policy.
At this point, even calling it "policy" is utter delusion: it would somehow implies the people who hold the wheel have a minimal clue about what the impact of their decisions ("Policies") will have for the mid to long term future of the economy.
They absolutely don't. They are driving without a map, only worrying about the next turn in the road.
We are raised to believe our leaders are at least vaguely competent.
At best: they aren't. At worst: their actual competence is centered around how much they can do for themselves.
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…
I think the Bitcoin people on Twitter are quite fun, actually. When Bitcoin crashes, they flood Twitter with HODL memes, which helps through the dark times.
Ok, this seems to be a well-thought out argument against Bitcoin. I'm happy to buy into it. Yes, maybe BTC corrupts people. But then without proper digital money protocols, how are we supposed to build the next wave of web applications? Ethereum can be used to do useful things. E.g. we're rating data sets by quality through staking [1]. NFTs seem to make sense for artists (see what Mike Shinoda from Linkin Park said)…
We have lots of non-crypto digital money protocols. Millions of people use them every day. Crypto currencies and block chains are mostly reinventing existing wheels, with a weak promise of decentralization on top, which seems to break down whenever a big-enough event happens.
Additionally the space is heavily regulated. I worked for a company that did several million EUR a year legit revenue in the music industry. Stripe, Adyen and others slammed the door in front of us when we wanted to build automated royalty payments.
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.
> why is 99% of the conversation related to Bitcoin about the current price. Because of the circles you're in and the loud minority that's constantly talking about the price. There's a whole community of people just building stuff without wasting their time constantly arguing for price on social networks.
Welcome to the no-coiner comment section! Please share why you prefer to stay poor!
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…
Dude, do you post anything else on HN?