5 ms·

Frankly that is the best case scenario for crypto. It's similar to the dot com bubble in 1999 actually, it's 20 years later and the internet is finally somewhat

Frankly that is the best case scenario for crypto. It's similar to the dot com bubble in 1999 actually, it's 20 years later and the internet is finally somewhat useful and intergrated into our lives. Originally it was just a bubble inflated with ad revenue inflated with investor money

oblio 5y ago
Yeah, but the web was instantly useful for a huge array of legitimate uses. It was never a solution in search of a problem. In 1999 the tech wasn't there but everyone could see where it was going, like all investments, it was a matter of timing. Crypto is still at the fundamental research phase and we don't even have consensus that it does more good than bad, yet.
- kkjjkgjjgg 5y ago
  It does good when your bank accounts get shut down, as happened to Wikileaks for example.
  - oblio 5y ago
    That's a super niche application, not a mass market use. And yes, I know about the supposed use for people in countries with unstable regimes but I'm not convinced at the moment. Plus that use case, being that of people generally having low disposable incomes (barring China) absolutely doesn't justify the market value of crypto at the moment.
    - kkjjkgjjgg 5y ago
      Inflation hits the masses, or in general money supply manipulation schemes. In the last few weeks, markets tanked just because the FEDs announced they plan to increase interest rates. Is that really how we want to go on?
      - oblio 5y ago
        Cryptocurrencies are only used for speculation. That's your best argument against regular currencies? That they're being manipulated, too? :-)
        kkjjkgjjgg 5y ago
        Bitcoin is not being manipulated. You may be confusing it with Bitcoin markets and Bitcoin trading. Nobody can conjure Bitcoin out of thin air or manipulate interest rates on it.
        CRConrad 5y ago
        > Nobody can conjure Bitcoin out of thin air That's exactly what Bitcoin miners do: They take pure thin air and convert it into noxious power plant fumes. Pure air is what the odiferous Bitcoin is conjured out of.

oblio 5y ago

Yeah, but the web was instantly useful for a huge array of legitimate uses. It was never a solution in search of a problem. In 1999 the tech wasn't there but everyone could see where it was going, like all investments, it was a matter of timing. Crypto is still at the fundamental research phase and we don't even have consensus that it does more good than bad, yet.

kkjjkgjjgg 5y ago
It does good when your bank accounts get shut down, as happened to Wikileaks for example.
- oblio 5y ago
  That's a super niche application, not a mass market use. And yes, I know about the supposed use for people in countries with unstable regimes but I'm not convinced at the moment. Plus that use case, being that of people generally having low disposable incomes (barring China) absolutely doesn't justify the market value of crypto at the moment.
  - kkjjkgjjgg 5y ago
    Inflation hits the masses, or in general money supply manipulation schemes. In the last few weeks, markets tanked just because the FEDs announced they plan to increase interest rates. Is that really how we want to go on?
    - oblio 5y ago
      Cryptocurrencies are only used for speculation. That's your best argument against regular currencies? That they're being manipulated, too? :-)
      - kkjjkgjjgg 5y ago
        Bitcoin is not being manipulated. You may be confusing it with Bitcoin markets and Bitcoin trading. Nobody can conjure Bitcoin out of thin air or manipulate interest rates on it.
        CRConrad 5y ago
        > Nobody can conjure Bitcoin out of thin air That's exactly what Bitcoin miners do: They take pure thin air and convert it into noxious power plant fumes. Pure air is what the odiferous Bitcoin is conjured out of.