Earlier quoted context omitted.
True though
Elon Musk mostly speaks about things he actually is an expert on though?
What is Musk an expert in? Besides being a rich school boy?
Why All Cryptocurrency Should Die in a Fire
71–80 of 341 posts
Re: Why All Cryptocurrency Should Die in a Fire
#72Re: Why All Cryptocurrency Should Die in a Fire
#73[dead]
Re: Why All Cryptocurrency Should Die in a Fire
#74Somewhat relatedly, I’ve been wondering for a while now why so many people here are so intensely, emotionally against this tech (and consequently why so many mediocre articles on the topic with emotionally charged titles are upvoted to the front page).
Plenty of different arguments are offered by the commentariat, some of which have merit. But whether the stated reasons are environmental issues, political implications, scams, ransomware, or illicit trade, the one commonality seems anger and desire to ban and destroy all crypto.
A commenter recently stated candidly that they simply feel envy. They’re bitter about their bro-type friends and acquaintances getting rich overnight and flaunting their wealth. It clicked for me that HN commenters are more likely to personally know such people and feel resentful towards them.
That may sound like ad hominem, but I’m not addressing the arguments (many of which I agree with). I’m speculating about the reasons for the disproportionate level of ire directed against crypto on this forum, and personal resentment feels like a good candidate.
The reason I even care is that I’m hoping to read (even if not always necessarily participate in) higher quality discussions on this topic. The tech is here whether we like it or not. It might fail horribly (as many here seem to be hoping), but what definitely won’t help are the “I hope this Ponzi scam dies soon” one-liners on almost every article on the topic.
Re: Why All Cryptocurrency Should Die in a Fire
#75I will gladly stop using Monero if someone can tell me how to privately transact over the internet without CC companies (and others) spying on me and selling my data. Until there is a better solution, I'll keep using it.
I understand this privacy argument - but I'm wondering what the practical downside is of this "spying"? I've been using credit cards online for decades and I am yet to encounter anything negative from doing so. I get that my credit card provider knows that I'm buying £X of goods from merchant Y. But unless that merchant is very specific, the card company doesn't know what I've bought. And, if it did... so what? Perha…
It's good you live somewhere where hiding your sexuality is not an issue.
But, for argument's sake let's say you can be put in jail or killed for your sexuality. You want to buy something from a specific store that caters exclusively to your sexual preferences. The CC company sells that to your government (or another entity wanting to enforce that), then you are arrested or killed, or you family harassed.
Re: Why All Cryptocurrency Should Die in a Fire
#76I think the best criticism against crypto currency is that it is essentially “regulatory arbitrage”. Things are allowed inside crypto that is not allowed in the normal world of finance. Ie stable coins: promising people 20% on their savings account by running an obscured ponzi. Ie pump and dump. Ie insider information. Insiders on exchanges buying up coins they know are going to be listed. Etc etc. (And proof of work…
The only thing crypto does is to make these things available to regular people who aren't rich already. They're happening either way.
Re: Why All Cryptocurrency Should Die in a Fire
#77I will gladly stop using Monero if someone can tell me how to privately transact over the internet without CC companies (and others) spying on me and selling my data. Until there is a better solution, I'll keep using it.
Most scammers targeting your retired parents know how: play store or other vouchers you can buy in the super market. In Europe a standard free IBAN money transfer probably does not lead to much spying either. The biggest use case for this kind of privacy crypto privides is the 'freedom' to do things not legal in your country. I am actually happy to live in a world with limited freedom at times although there is certainly room for improvement ( I do not consider crypto currency as one )
Re: Why All Cryptocurrency Should Die in a Fire
#78I will gladly stop using Monero if someone can tell me how to privately transact over the internet without CC companies (and others) spying on me and selling my data. Until there is a better solution, I'll keep using it.
I understand this privacy argument - but I'm wondering what the practical downside is of this "spying"? I've been using credit cards online for decades and I am yet to encounter anything negative from doing so. I get that my credit card provider knows that I'm buying £X of goods from merchant Y. But unless that merchant is very specific, the card company doesn't know what I've bought. And, if it did... so what? Perha…
A future government that is analogous to Nazi Germany wants to put certain groups into a concentration camp ("sexual deviants", religious minorities, you take your pick). Better hope there isn't a CC history that shows you buying sex toys or religious items in the last 30 years.
Sure, in the western part of the world, you could think that this is paranoid, but depending on where you are in the world, and what minorities you belong to the risk is real.
Heck, even in the US with the way the SCOTUS is going, this may become relevant sooner than you'd expect.
Re: Why All Cryptocurrency Should Die in a Fire
#79I will gladly stop using Monero if someone can tell me how to privately transact over the internet without CC companies (and others) spying on me and selling my data. Until there is a better solution, I'll keep using it.
I understand this privacy argument - but I'm wondering what the practical downside is of this "spying"? I've been using credit cards online for decades and I am yet to encounter anything negative from doing so. I get that my credit card provider knows that I'm buying £X of goods from merchant Y. But unless that merchant is very specific, the card company doesn't know what I've bought. And, if it did... so what? Perha…
The importance of privacy is not theoretical.
First, the data is accessible by credit card provider, but also by several financial and technical intermediaries. Second, there is no way for any of those companies to guarantee that the data will never be leaked.
Then, in terms of consequences, it includes reputional risks, security risks people know your behavior patterns, and to be arrested for being at the wrong place and wrong time. Then is all the track record of governmental overreach that used this type of data, from arresting environmental activists to killings based on sexuality (for example). It happened in everywhere, and it still happens today.
Re: Why All Cryptocurrency Should Die in a Fire
#80Earlier quoted context omitted.
> stable coins Are not a real cryptocurrency. > pump and dump Is absolutely a regular circumstance. Last what I remember is sawn wood situation on the very early 2022, afaik it is worldwide. I do not recommend you to buy right now a sawn wood from big stores before researching a market in your location, because some of big stores have been dumped after buying some big amounts of sawn wood on huge prices, and their wa…
what makes stablecoins not a real cryptocurrency? They are a currency stored on the blockchain
They are not sharing a "no trusted third-party" part of Nakamoto's Consensus.