Five Levels of Hype

Post by sepiasaucer » Sun, Jan 23, 2022, 8:01 PM UTC

maxilevi wrote: post #64

sepiasaucer wrote: post #59

Earlier quoted context omitted.

IMO the technology blockchain has only demonstrated success in 1 application which is cryptocurrency. Cryptocurrency has only demonstrated success in 2 applications: speculative investment and illegal online purchases. I would include NFT’s under the speculative investment category. These applications are obviously problematic for 3 main reasons: it wastes enormous amounts of energy, the investment is often at the ex…

I disagree. I use crypto to protect against high inflation in my country and mantain the value of the fruits of my labour. Where does that fit in your categories? Crypto and DeFi have a lot of applications, especially in third world countries with bad financial systems.

Post by maxilevi » Sun, Jan 23, 2022, 8:14 PM UTC

sepiasaucer wrote: post #71

maxilevi wrote: post #64

Earlier quoted context omitted.

I disagree. I use crypto to protect against high inflation in my country and mantain the value of the fruits of my labour. Where does that fit in your categories? Crypto and DeFi have a lot of applications, especially in third world countries with bad financial systems.

In the absence of a stable government backed currency it seems cryptocurrency could have some value. However, cryptocurrency is also unstable. You are speculating that holding crypto will be better over some period of time than any alternative value store you can access. That may well be true, but seems like that depends on what other options you have access to and would require more rigorous analysis of the tradeoff…

Post by tripletao » Sun, Jan 23, 2022, 8:27 PM UTC

jollybean wrote: post #53

password54321 wrote: post #42

Earlier quoted context omitted.

Covid coming from a lab is 'leaving science"? Well I'm glad whoever made that chart has it all figured out.

Yes, they need to update that list. Jamie Metzel [1] makes a very rational case that the Lab Leak theory is very likely. Check out is interview with Lex. It's more than 4 hours long (!), but worth a listen. [1] https://jamiemetzl.com/origins-of-sars-cov-2/

Post by zepto » Sun, Jan 23, 2022, 8:32 PM UTC

ricardobeat wrote: post #56

elefanten wrote: post #51

Earlier quoted context omitted.

I suppose this was supposed to sound like a snappy argument? It’s a bland, impactless statement. Even if scumbags are infatuated with something, it can still have legitimate and beneficial uses / users. And the comment’s wrong too… the scumbags probably want to cash their gains out to traditional currencies, they’re least likely to be in it as technology true believers.

I think what he was trying to say is that saying "crypto attracts scumbags" puts the onus purely on consumers of the tech, when in fact a lot of the scummy behavior, hype and fraud is planned and encouraged by the people implementing the technology, not only their users. That's a significant departure from "any other movement".

Post by sepiasaucer » Sun, Jan 23, 2022, 9:18 PM UTC

maxilevi wrote: post #73

sepiasaucer wrote: post #71

Earlier quoted context omitted.

In the absence of a stable government backed currency it seems cryptocurrency could have some value. However, cryptocurrency is also unstable. You are speculating that holding crypto will be better over some period of time than any alternative value store you can access. That may well be true, but seems like that depends on what other options you have access to and would require more rigorous analysis of the tradeoff…

You are assuming I use BTC or ETH directly as currency but I use stablecoins like DAI which are pegged to the USD dollar. This allows me to hold currencies I wouldn't be able to buy because of capital controls by the government.