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> At it's [sic] origin, it promised enduring new forms of interconnected computing. Have you read the Bitcoin whitepaper? You should, it’s not that long. This

by auscad 3y ago

> At it's [sic] origin, it promised enduring new forms of interconnected computing. Have you read the Bitcoin whitepaper? You should, it’s not that long. This is not what was promised. We were promised a decentralized peer to peer currency with a fixed supply that couldn’t be inflated at the whims of a central bank. We got that. And we sort of also got “new forms of interconnected computing”. We now have new types of zero knowledge proofs which were designed for smart contract verification but are more generally useful. We have things like IPFS allowing you to store data in a decentralized way. There’s helium, a mesh network for IoT devices. We have ENS. Then of course we have an endless supply of sophisticated financial instruments which you probably wouldn’t be able to access otherwise. Your position is easy to take because it’s sort of the “default” that an uninformed person would believe, and those people will side with you.

prepend 3y ago
> Your position is easy to take because it’s sort of the “default” that an uninformed person would believe, and those people will side with you. Isn’t it also the position of the well informed that think crypto is BS and are waiting (14 years now) for a non-drug use case?
- hpeter 3y ago
  You can launder money with it also /sarcasm
- GoblinSlayer 3y ago
  You're poorly informed. I used it for donations. It's the only pseudonymous network-native currency that I know.
rektide 3y ago
The value being completely unapparent & unappealing to the world sort of sells my prospective though, doesn't it? Using block chain to store data or transact is incredibly costly & inefficient. Most of the systems surrounding those usages are an incredible obtuse pain in the ass, no fun at all. Most uses rely on one or more extremely intermediated centralized systems. The whole thing seems bankrupt. There hasn't been a single notable use. The most well known use case so far beyond cryptocoins is crypto kitties.
- MacsHeadroom 3y ago
  Escaping fiat currency is essentially the only use case advertised in the Bitcoin whitepaper and it continues to be a notable use today. If this use is not notable or compelling to you, then you are probably very fortunate (for now).
lxgr 3y ago
> We were promised a decentralized peer to peer currency with a fixed supply that couldn’t be inflated at the whims of a central bank. And instead we got a fixed-supply currency, completely incapable of adapting to supply and demand for money (which would be a precondition for price stability). > Then of course we have an endless supply of sophisticated financial instruments which you probably wouldn’t be able to access otherwise. This very much depends on where you're located, but personally, I really can't complain about a lack of access to powerful financial instruments, including a multitude of footguns. Crypto hasn't meaningfully (and especially not qualitatively) improved things for me. Do you have any specific examples?
hpeter 3y ago
Helium is kind of a failure tho. Last I heard it has very little users. I'm into ETH big time, but there are not many applications for it that are worth the fees.

by auscad 3y ago

prepend 3y ago

> Your position is easy to take because it’s sort of the “default” that an uninformed person would believe, and those people will side with you. Isn’t it also the position of the well informed that think crypto is BS and are waiting (14 years now) for a non-drug use case?

hpeter 3y ago
You can launder money with it also /sarcasm
GoblinSlayer 3y ago
You're poorly informed. I used it for donations. It's the only pseudonymous network-native currency that I know.

rektide 3y ago

The value being completely unapparent & unappealing to the world sort of sells my prospective though, doesn't it? Using block chain to store data or transact is incredibly costly & inefficient. Most of the systems surrounding those usages are an incredible obtuse pain in the ass, no fun at all. Most uses rely on one or more extremely intermediated centralized systems. The whole thing seems bankrupt. There hasn't been a single notable use. The most well known use case so far beyond cryptocoins is crypto kitties.

MacsHeadroom 3y ago
Escaping fiat currency is essentially the only use case advertised in the Bitcoin whitepaper and it continues to be a notable use today. If this use is not notable or compelling to you, then you are probably very fortunate (for now).

lxgr 3y ago

> We were promised a decentralized peer to peer currency with a fixed supply that couldn’t be inflated at the whims of a central bank. And instead we got a fixed-supply currency, completely incapable of adapting to supply and demand for money (which would be a precondition for price stability). > Then of course we have an endless supply of sophisticated financial instruments which you probably wouldn’t be able to access otherwise. This very much depends on where you're located, but personally, I really can't complain about a lack of access to powerful financial instruments, including a multitude of footguns. Crypto hasn't meaningfully (and especially not qualitatively) improved things for me. Do you have any specific examples?

hpeter 3y ago

Helium is kind of a failure tho. Last I heard it has very little users. I'm into ETH big time, but there are not many applications for it that are worth the fees.