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(just read the title, couldn't get past the bylines) I just saved this article so I can laugh at Tim in the future. First off. This-is-a-bubble. I'm not sayin

by 0xCMP 9y ago

(just read the title, couldn't get past the bylines) I just saved this article so I can laugh at Tim in the future. First off. This-is-a-bubble. I'm not saying it's not. But, bitcoin IS solving major problems and it WILL fix the problems it has. Will it still be worth ~$20K/BTC? Maybe not, but maybe it'll be more. Hard to say. I can not imagine how Tim could think that cryptocurrencies, and more specifically blockchain technology, "doesn't solve anything." This is such a stupid statement to make. How exactly does a way to do trustless computing around the world equal "doesn't solve anything?" Brain dead opinion.

workthrowaway27 9y ago
Some questions: 1. Why is trustless computing important? 2. What does trustless computing allow us to do that we can't/won't do now at a comparable or lesser cost? 3. What evidence do you have that anyone cares about trustless computing other than the price of bitcoin and other cryptocurrencies?
- 0xCMP 9y ago
  1. Removing the central party was always key for making a system that could benefit everyone and not create rules that favored the powerful. Your question is phrased such that it’s talking about trustless computing as a whole so it can be applied to things such as creating a true and verifiably secure direct democratic system that everyone can trust and understand given some level of tech knowledge. 2. To establish a system of trust requires physical secuirty, political power, and financial resources that make this kind of computing only possible for the rich and powerful unless it’s already in their interest. 3. Price is an excellent indicator and the fact that we see coins being created means there’s innovation around it, but excluding those I think the best place to look is before there was a financial motive and look at the crypto punk movements and those who’d been trying to do trustless computing since the 90s in order to use technology to make society more fair and democratic.
netsharc 9y ago
So, what is stopping people from adapting some other blockchain currency technology to do their trades? Why does it have to be bitcoin? I really don't get how you can't separate the technology and one implementation of the technology.
- 0xCMP 9y ago
  I think the statement “it doesn’t solve anything” is hyperbole that makes the nuanced argument you’re making (that I don’t disagree with) hard to have. How is a block chain useful at all if it’s current main application “doesn’t solve anything?” By the way, it does, just not for first world countries which is a pretty ignorant position to have. What if your country’s money is being devalued by morons in government? Or you’re being financially persecuted? Or the banking system is horrible. Or you just want to send back your family money. The problem now is the high fees, but once someone figures that out it solves it in a major way, don’t you think?

by 0xCMP 9y ago

workthrowaway27 9y ago

Some questions: 1. Why is trustless computing important? 2. What does trustless computing allow us to do that we can't/won't do now at a comparable or lesser cost? 3. What evidence do you have that anyone cares about trustless computing other than the price of bitcoin and other cryptocurrencies?

0xCMP 9y ago
1. Removing the central party was always key for making a system that could benefit everyone and not create rules that favored the powerful. Your question is phrased such that it’s talking about trustless computing as a whole so it can be applied to things such as creating a true and verifiably secure direct democratic system that everyone can trust and understand given some level of tech knowledge. 2. To establish a system of trust requires physical secuirty, political power, and financial resources that make this kind of computing only possible for the rich and powerful unless it’s already in their interest. 3. Price is an excellent indicator and the fact that we see coins being created means there’s innovation around it, but excluding those I think the best place to look is before there was a financial motive and look at the crypto punk movements and those who’d been trying to do trustless computing since the 90s in order to use technology to make society more fair and democratic.

netsharc 9y ago

So, what is stopping people from adapting some other blockchain currency technology to do their trades? Why does it have to be bitcoin? I really don't get how you can't separate the technology and one implementation of the technology.

0xCMP 9y ago
I think the statement “it doesn’t solve anything” is hyperbole that makes the nuanced argument you’re making (that I don’t disagree with) hard to have. How is a block chain useful at all if it’s current main application “doesn’t solve anything?” By the way, it does, just not for first world countries which is a pretty ignorant position to have. What if your country’s money is being devalued by morons in government? Or you’re being financially persecuted? Or the banking system is horrible. Or you just want to send back your family money. The problem now is the high fees, but once someone figures that out it solves it in a major way, don’t you think?