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Problems that have been solved by regular banking decades ago. Jesus Christ the stupidity of crypto amazes me every day.

davidmurdoch 4y ago
I'm not Jesus Christ, but I understand your sentiment. (let's keep the discussions civil)
im3w1l 4y ago
People want the benefits of regular banking without the drawbacks.
inkblotuniverse 4y ago
Unless you want to send money to truckers
- s5300 4y ago
  Where have you heard anything about having issues sending money to truckers? The only thing I can imagine you’re talking about is when some wannabe domestic terrorists rightfully had their funding declined.
  - djbusby 4y ago
    Maybe was poke at the "Freedom Convoy"?
  - inkblotuniverse 4y ago
    MLK would've had his bank account frozen. If I want to send somebody money, I want to send them money; no matter what you call them. Crypto seems like a convenient way to do this, and the more repressive governments get, the more of a use-case there'll be!
    - s5300 4y ago
      I think the mail is a pretty convenient way to do it. USPS is anywhere in the US within 2-5 days, & it’s a felony for anybody to fuck with it.
ikt 4y ago
> Problems that have been solved by regular banking decades ago. https://www.savings.com.au/news/scamwatch-2021 https://www.savings.com.au/news/scamwatch-2021 Australians lost a record $323 million to scams in 2021 -- So glad they solved fraud prevention 'decades ago'.
- threeseed 4y ago
  There is nothing about crypto that prevents scams. But in the regular banking system we have decades of experience in how to mitigate the impacts of them e.g. account insurance, MFA for any new transfers or over a certain limit, auditing by independent regulators.
- roflyear 4y ago
  How do ya get your scammed cryptocurrency back, again?
mitchdoogle 4y ago
Crypto attracts a lot of statements like this and it's so ridiculous when you think about it because usually the statement applies so generally as to be virtually irrelevant. Almost every invention or new thing solves a problem that was solved already, and yet they often find success and may even become more popular than whichever way people were using to solve that problem before. The tech community should be keenly aware of this because there are new apps, new languages, new libraries, new plugins, etc all the time, which solve a problem that was pretty much solved already. You might counter that new things usually have to have some value proposition to gain a footing, like cheaper, faster, more reliable, etc. For one, that's not always true, but also crypto does have a value proposition like that. It's immutable, trustless, and can be anonymous. And it is even cheaper and faster than the regular banking system in some circumstances, depending on the sum being sent and where it goes.

davidmurdoch 4y ago

I'm not Jesus Christ, but I understand your sentiment. (let's keep the discussions civil)

im3w1l 4y ago

People want the benefits of regular banking without the drawbacks.

inkblotuniverse 4y ago

Unless you want to send money to truckers

s5300 4y ago
Where have you heard anything about having issues sending money to truckers? The only thing I can imagine you’re talking about is when some wannabe domestic terrorists rightfully had their funding declined.
- djbusby 4y ago
  Maybe was poke at the "Freedom Convoy"?
- inkblotuniverse 4y ago
  MLK would've had his bank account frozen. If I want to send somebody money, I want to send them money; no matter what you call them. Crypto seems like a convenient way to do this, and the more repressive governments get, the more of a use-case there'll be!
  - s5300 4y ago
    I think the mail is a pretty convenient way to do it. USPS is anywhere in the US within 2-5 days, & it’s a felony for anybody to fuck with it.

ikt 4y ago

> Problems that have been solved by regular banking decades ago. https://www.savings.com.au/news/scamwatch-2021 https://www.savings.com.au/news/scamwatch-2021 Australians lost a record $323 million to scams in 2021 -- So glad they solved fraud prevention 'decades ago'.

threeseed 4y ago
There is nothing about crypto that prevents scams. But in the regular banking system we have decades of experience in how to mitigate the impacts of them e.g. account insurance, MFA for any new transfers or over a certain limit, auditing by independent regulators.
roflyear 4y ago
How do ya get your scammed cryptocurrency back, again?

mitchdoogle 4y ago

Crypto attracts a lot of statements like this and it's so ridiculous when you think about it because usually the statement applies so generally as to be virtually irrelevant. Almost every invention or new thing solves a problem that was solved already, and yet they often find success and may even become more popular than whichever way people were using to solve that problem before. The tech community should be keenly aware of this because there are new apps, new languages, new libraries, new plugins, etc all the time, which solve a problem that was pretty much solved already. You might counter that new things usually have to have some value proposition to gain a footing, like cheaper, faster, more reliable, etc. For one, that's not always true, but also crypto does have a value proposition like that. It's immutable, trustless, and can be anonymous. And it is even cheaper and faster than the regular banking system in some circumstances, depending on the sum being sent and where it goes.