71–80 of 159 posts
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It is odd but then I remember many years back working for a fintech, the founder was against putting up any proper marketing materials online, we had a crappy website. Its now a multi $BN company. The website is a 'bit less' crappy.
Berkshire Hathaway being a classic example of this ethos. https://berkshirehathaway.com/
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Cryptocurrency isn’t going away, but it’s dishonest to pretend that it’s not without major problems such as the energy consumption issues. The popular narrative has also become almost indistinguishable from a pump scheme, where we’re all supposed to buy and home (never sell) until we’re all rich. If cryptocurrency becomes commonplace, it likely won’t look anything like our current crypto infrastructure. The problem i…
Lots of things have environmental problems. I don’t understand why Bitcoin mining gets singled out for it. If the benefits of using it outweigh the downsides, then I don’t see the issue.
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> major problems such as the energy consumption issues You don’t seem to know much about crypto currencies to name energy usage as a real problem of crypto. While Bitcoin will keep it’s “proof of work” approach to mining in the foreseeable future, there are now quite a few alternative crypto currencies in circulation employing “proof of stake” that do not suffer from large computer power usage e.g. Cardano, Solana or…
If you think that proof of stake will take over, do you think that Bitcoin will crash? When will Bitcoin stop having the insane environmental impact it has now? If proof of stake is the future, why is the market cap of BTC so high compared to other cryptocurrencies?
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The other wastes of electricity are also problems we should address. The difference is that while regulations and tech advancements are improving power efficiency everywhere else, proof of work systems incentive ever-increasing wastes of electricity. What other system is designed to get increasingly less efficient over time, while paying people to be inefficient, as a core principle of how it operates? Cryptocurrency…
But if the sociopolitical benefits of cryptocurrency are so great, then the electric cost is worth it. It just seems like groupthink to me. Where are the armies of people against air conditioning or disposable medical tools? Both are pretty wasteful yet clearly worth it.
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Hostile comments in which direction? It's an interesting perspective too when you realize: - people who have counter-narrative to the Bitcoin propaganda aren't financially incentivized to be negative about it, and obviously their commentary will be negative - people who own Bitcoin are financially incentivized to speak positively about it, while also suppressing those with a counter-narrative That Bitcoin has a futur…
> people who have counter-narrative to the Bitcoin propaganda aren't financially incentivized to be negative about it They are incentivized to be negative about it, because whether you like it or not, not buying into it has real opportunity costs. If it ends up becoming the global currency, then you'd be left behind.
I have no interest in cryptocurrencies and I don’t own a single cent in any of them. But the continual barrage of hostile comments in every single HN article looks mostly like groupthink to me. Clearly cryptocurrency will continue to play a growing role in the future. Denying this seems simply delusional.
I think its more a sensational narrative that angry geeks don't realize they're being used to advance.
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Cryptocurrency isn’t going away, but it’s dishonest to pretend that it’s not without major problems such as the energy consumption issues. The popular narrative has also become almost indistinguishable from a pump scheme, where we’re all supposed to buy and home (never sell) until we’re all rich. If cryptocurrency becomes commonplace, it likely won’t look anything like our current crypto infrastructure. The problem i…
Lots of things have environmental problems. I don’t understand why Bitcoin mining gets singled out for it. If the benefits of using it outweigh the downsides, then I don’t see the issue.
Remember that there are people behind these decisions and they are largely rational actors. Someone at PayPal is getting a big promotion and bonus from pushing this deal. If crypto goes nowhere and they shut down this project, then it can be rationalized as "getting in too early" or some other "unforeseen externality" that happened, totally out of their control. But the promotion and risk taking executive will have s…
Crypto has been around for 12 years and has gone from zero to well over $1 trillion mcap. I doubt it will go back to zero.
> 37signals is now a $100 billion dollar company, according to a group of investors who have agreed to purchase 0.000000001% of the company in exchange for $1.
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Just to be clear, 3 tx/sec is just incorrect and easily disproved by dividing the total transactions per day (readily available online) by the total seconds in a day. Also the btc main layer is a major settlement layer. It doesnt even compare to ACH or wires in frequency. The fees going up if its tried to be used in that way will force it, and that is a good thing. A chain cannot grow so fast with high tx so that it…
Okay, so it isn't 3 tx/sec. It's a bit more than that. Not an order of magnitude more, or two orders of magnitude, or the five orders of magnitude more to have the throughput required for everyone on earth to be able to transact once per day, say to buy lunch. You talk about BTC as a settlement layer. A settlement layer for what? The lightning network? Laughable. BTC might have a future as a store of value like gold,…
I have no interest in cryptocurrencies and I don’t own a single cent in any of them. But the continual barrage of hostile comments in every single HN article looks mostly like groupthink to me. Clearly cryptocurrency will continue to play a growing role in the future. Denying this seems simply delusional.
Cryptocurrency isn’t going away, but it’s dishonest to pretend that it’s not without major problems such as the energy consumption issues. The popular narrative has also become almost indistinguishable from a pump scheme, where we’re all supposed to buy and home (never sell) until we’re all rich. If cryptocurrency becomes commonplace, it likely won’t look anything like our current crypto infrastructure. The problem i…