81–90 of 131 posts
Earlier quoted context omitted.
If those events happen, do you think the infra (electricity generation and telecom interconnection) that it relies upon will still be around?
Yes. I'm talking about financial collapse, not destruction of infra.
Bitcoin is insurance for when the banks go bust.
There are so many frustrated nocoiners here on HN, it’s crazy. It’s interesting that on a tech site people can be more negative towards new technology, than on youtube for example, where I don’t see so much hate....I just don’t understand why.
I think the answer is because it IS a tech site. Members here understand that Bitcoin is a vastly inefficient and ineffective way to achieve the end goal. My view is definitely that Bitcoin solves a problem I don't have, in just about the worst way possible (proof of work).
I truly believe it’s simply that they want it to fail since they missed the boat, and their ego is on the line as a forward thinking, “ahead of the curve” technologist.
It can’t be the biggest development of the last decade, what would that say about them? Therefore, inefficient ponzi that’s only used for drugs!
Proof of work blockchains should be banned by various governments for this reason alone. At this point BTC is a speculative bubble that benefits a very small group to the detriment of the rest of us. I also have a lot of personal frustration with how mining (more of ETH and others) is impacting the global GPU supply. A whole cottage industry has cropped up of sites, discords, etc that provide notifications when GPUs…
> Proof of work blockchains should be banned by various governments for this reason alone. How does one ban a blockchain? Serious question. Would you only arrest the miners or would you also arrest non-mining full node operators? How could you tell if regular citizens were transacting with POW coins? Would you subpoena telecom companies for records where customers have visited known sites which transact in POW coins?…
Earlier quoted context omitted.
> Proof of work blockchains should be banned by various governments for this reason alone. How does one ban a blockchain? Serious question. Would you only arrest the miners or would you also arrest non-mining full node operators? How could you tell if regular citizens were transacting with POW coins? Would you subpoena telecom companies for records where customers have visited known sites which transact in POW coins?…
You regulate exchanges like Coinbase and Gemini, so there are no legitimate ways to trade your proof of work cryptocurrency for USD (or your local gov backed currency). Then the demand for the crypto currency plummets. In 2010-2011, I traded BTC for USD in person, with a laptop on wifi. And via PayPal with someone I met on IRC, where there was a bot that kept track of your reputation so the BTC sellers would know if…
* cocaine prices aren't $1/kg, even after governments around the world banned it
* exotic/endangered species are still being traded for top dollars, despite anti-poaching and anti-trafficking regulations
* stolen art is still worth millions
There are so many frustrated nocoiners here on HN, it’s crazy. It’s interesting that on a tech site people can be more negative towards new technology, than on youtube for example, where I don’t see so much hate....I just don’t understand why.
There are so many frustrated nocoiners here on HN, it’s crazy. It’s interesting that on a tech site people can be more negative towards new technology, than on youtube for example, where I don’t see so much hate....I just don’t understand why.
Proof of work blockchains should be banned by various governments for this reason alone. At this point BTC is a speculative bubble that benefits a very small group to the detriment of the rest of us. I also have a lot of personal frustration with how mining (more of ETH and others) is impacting the global GPU supply. A whole cottage industry has cropped up of sites, discords, etc that provide notifications when GPUs…
I can list so many dumb uses of energy out of my head that could be beneficial if banned...
Proof of work blockchains should be banned by various governments for this reason alone. At this point BTC is a speculative bubble that benefits a very small group to the detriment of the rest of us. I also have a lot of personal frustration with how mining (more of ETH and others) is impacting the global GPU supply. A whole cottage industry has cropped up of sites, discords, etc that provide notifications when GPUs…
Or, dirty energy should be banned.
Then what? Do you end up with this problem? https://news.ycombinator.com/item?id=26226470
The problem with bitcoin isn't merely that it uses a ton of energy, it's that the amount of energy consumed has practically zero relationship to the utility provided by the network. Yes, Visa uses a lot of energy, it's also a global payment platform servicing hundreds of millions of transactions per day, the amount of energy used correlates with the amount of useful work provided by the network, this is not true of P…
well not really, the amount of bitcoin to be mined is fixed (and actually drops in the long term), so the amount of money that is up for grabs should stay the same unless the price changes. Therefore it's more reasonable to say that the increase is power consumption is fueled by the increase in price, not because of increase in efficiency.