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Why All Cryptocurrency Should Die in a Fire

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Re: Why All Cryptocurrency Should Die in a Fire

#81

Post by coldcode »

You can say the same thing about stocks, gold, bonds, commodities depending on what year you are in. Everything goes up and eventually down again. Oil futures even went below zero not that long ago, now the cash price is over $100 a barrel. I saw the crash in 1987 and yet here we are, at all time highs recently. Crypto of course has less economic meaning as it's just bits, but anything that is traded goes up and down in value, even pointless things like baseball cards. Value is whatever people will pay today for something hoping it either goes up in value or provides them with some benefit (like a house).

Complaining that crypto is stupid is fine, but lots of things in history were stupidly valued (tulips, beanie babies, bored apes) and eventually the market did or will change. Crypto is worth whatever people will pay for it. It's not inherently evil.

Re: Why All Cryptocurrency Should Die in a Fire

#82

Post by aww_dang »

mypastself wrote: post #74

Somewhat 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 implication…

The quality of these discussions could improve dramatically. At this point almost all of the possible arguments have been made. We are at the dead horse flogging point.

Re: Why All Cryptocurrency Should Die in a Fire

#83

Post by eimrine »

sunwukung wrote: post #67
eimrine wrote: post #50

Earlier quoted context omitted.

> Personally I think crypto is a 50/50 chance of working long term. Exactly as a chance of meeting a dinosaur on your street today? What a coincidence.

I think you missed the primer on statistics

I have studied the primer on irony instead.

Re: Why All Cryptocurrency Should Die in a Fire

#84

Post by aww_dang »

McDyver wrote: post #75
edent wrote: post #49

Earlier quoted context omitted.

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.

"There's nothing wrong with creeping authoritarianism because I currently agree with the authorities."

"There's no need for privacy because I have nothing to hide."

Re: Why All Cryptocurrency Should Die in a Fire

#85

Post by kamranjon »

mypastself wrote: post #74

Somewhat 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 implication…

I think, and this article is definitely an example, that people realize it is largely illegal under current law, but is simply not being enforced by regulatory agencies. So when people get upset, I don’t think it’s just old man nagging about the new generation, it is more them trying to warn people about traps they have seen time and time again but have been reigned in by regulation but for some reason are allowed to be setup in this new crypto space without oversight.

Re: Why All Cryptocurrency Should Die in a Fire

#86

Post by yashg »

lordofgibbons wrote: post #10

I 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.

Exactly where do you use Monero?

Re: Why All Cryptocurrency Should Die in a Fire

#87

Post by uberswe »

riedel wrote: post #77
lordofgibbons wrote: post #10

I 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 certa…

I disagree with your statement about cryptos biggest use case. However I also want to point out that legal can vary a lot between countries. There is at least one third world country where a woman can't even get an abortion without risking life in prison. If cryptocurrencies can help people who don't have equal rights with more privacy in such situations then I am all for it.

Re: Why All Cryptocurrency Should Die in a Fire

#88

Post by _Algernon_ »

quickthrower2 wrote: post #63
eimrine wrote: post #46

Earlier 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're not trustless which makes them closer to a privately run fiat currency than a crypto currency.

Re: Why All Cryptocurrency Should Die in a Fire

#89

Post by chicob »

eimrine wrote: post #50
Havoc wrote: post #44

>help me make it die in a fire I'm rather mistrustful of people that are this forthy about being against a new technology. If it really is that devoid of merit it'll die on its own. I also think it is a rather fundamental failure to see the big picture. Not efficient? Well neither was the Ford model T. Newer generations are getting better. Similarly somehow existing systems seem to get a free pass for things that are…

> Personally I think crypto is a 50/50 chance of working long term. Exactly as a chance of meeting a dinosaur on your street today? What a coincidence.

Well, dinosaurs, being a clade, are pretty common if you think of birds.

Re: Why All Cryptocurrency Should Die in a Fire

#90

Post by gassit »

McDyver wrote: post #75
edent wrote: post #49

Earlier quoted context omitted.

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.

A very serious concern and I completely agree. However, it also seems like the kind of government that would have you arrested, killed or family harassed for shopping at a particular store probably wouldn’t permit that kind of particular store?

Again, it’s a valid concern but the GP was about real world use cases and it seems that’s not really one?

And if this is the concern why not use cash or monero or whatever for this particular transaction, surely the concern does not extend to all other transactions you are making?

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