Money corrupts; bitcoin corrupts absolutely • Hacker News Board

Re: Money corrupts; bitcoin corrupts absolutely

#51

Post by overscore » Sat, Mar 13, 2021, 5:56 PM UTC

seibelj wrote: post #13

> and lastly, it having a multitude of popular proponents with extreme viewpoints such as “animals have no rights”, or the right to bear arms which strikes me as vile, unethical, and borderline insane The right to bear arms is an extreme right wing viewpoint? This is quite the rant but the author is all over the map

Based on their bio, the author appears to be based in Belgium. Although I have my own thoughts on the matter, outside the US, the right to bear arms is indeed an extreme right-wing viewpoint.

Re: Money corrupts; bitcoin corrupts absolutely

#52

Post by Andrew_nenakhov » Sat, Mar 13, 2021, 5:56 PM UTC

psychiatrist24 wrote: post #43

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…

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.

Nonsense! When bitcoin crashes you must sell, not hodl, because it is clearly DOOMED!

Buy only when it is nearing ATH.

Re: Money corrupts; bitcoin corrupts absolutely

#53

Post by nemo44x » Sat, Mar 13, 2021, 5:57 PM UTC

The price of BTC must be going up since we are seeing these sour grapes stories on the front page again.

An NFT sold for 69 million the other day. Crypto is here to stay. It’s time to rethink the critical analysis of crypto.

What percentage of stimulus checks are going to be spent on BTC?

Re: Money corrupts; bitcoin corrupts absolutely

#54

Post by WanderPanda » Sat, Mar 13, 2021, 5:57 PM UTC

8fGTBjZxBcHq wrote: post #34

leesalminen wrote: post #12

Earlier quoted context omitted.

> 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?"

Proudly presented by: The mainstream media

Re: Money corrupts; bitcoin corrupts absolutely

#55

Post by matheusmoreira » Sat, Mar 13, 2021, 5:57 PM UTC

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.

Bitcoin has expensive transaction processing fees. This makes transactions inconvenient. Centralized exchanges helped with this by keeping trading internal to their systems and out of thr blockchain. As a result, it turned into a speculative asset.

Better coins don't have this property. Monero is a better currency in every way and it's essentially a stable 200 USD coin.

Re: Money corrupts; bitcoin corrupts absolutely

#56

Post by celticninja » Sat, Mar 13, 2021, 5:57 PM UTC

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…

And what's to say nano won't go the same way as bitcoin. By which I mean it will also attract its share of vocal proponents who want to get rich and will act the way you describe the current bitcoin community.

It is also an unfair assessment of the bitcoin community as it is pretty much based on the most vocal proponents and not for example based on the development community.

Re: Money corrupts; bitcoin corrupts absolutely

#57

Post by drcode » Sat, Mar 13, 2021, 5:57 PM UTC

fullshark wrote: post #40

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…

> constantly changes

Suggested correction: "is constantly being expanded and added to"

Re: Money corrupts; bitcoin corrupts absolutely

#58

Post by [deleted] » Sat, Mar 13, 2021, 5:58 PM UTC

InvisibleUp wrote: post #15

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…

> Why bother when there is no money involved Because you want to make something useful and helpful for the world? Personal satisfaction? Passion? Necessity? Granted, those are no arguments to work for free in a world where operating a business and keeping yourself fed cost money, but if somehow those weren't concerns, I can assure you people would still have plenty of motivation to innovate still.

[deleted]

Re: Money corrupts; bitcoin corrupts absolutely

#59

Post by zepto » Sat, Mar 13, 2021, 5:58 PM UTC

matheusmoreira wrote: post #32

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.

The point of a currency is to enable a society.

A frequent claim about cryptocurrencies is that they can enable a better society than fiat.

The proof is in the pudding.

Re: Money corrupts; bitcoin corrupts absolutely

#60

Post by bordercases » Sat, Mar 13, 2021, 5:59 PM UTC

DaniloDias wrote: post #24

This is a weird, angry screed. Op should read The Ascent of Money and maybe worry less about the moral failings of other humans. Peace and trust cannot exist without currency. Money lubricates peaceful resolution of conflict. If you need food and I have it, trade or violence are your only options if currency doesn’t exist. Screaming at Bitcoin is like screaming at evolution. As long as humans evolve, money will keep…

What makes Bitcoin marginally better money when its valuations are primarily driven by its ability to be a hedge against a system which intends to and is capable of capturing and controlling it?