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And? I'm responding to: > Looks like an complete failure of imagination Your response doesn't demonstrate a use for the technology, only that people are throw

And? I'm responding to: > Looks like an complete failure of imagination Your response doesn't demonstrate a use for the technology, only that people are throwing money at it hoping to get rich. Communities built around useful technology don't spend so much time trying to convince everyone that the technology is useful.

avmich 8y ago
We may long argue who should prove what and why, pointing to existing successes or failures. For me it's more interesting to figure out if the idea has merit, as to me merit is a hint to value. Bitcoin whitepaper state goals rather clearly, and the problems outlined there aren't going anywhere far right now. So the question is, can cryptocurrencies provide a solution? I'd say it's too early to say. Bitcoin looks like a much more serious idea than this article to me. On that level of analysis approaches like "come on people... etcetera etcetera" seem somewhat half-baked. The imagination jump which creators of cryptocurrencies made is much more significant and deserves a better review. The article is a good reminder that we need to think more here.
- root_axis 8y ago
  > So the question is, can cryptocurrencies provide a solution? I'd say it's too early to say. Well the stated goals of the bitcoin whitepaper are pretty narrow in scope, but setting that aside... Can cryptocurrency tokens provide a solution? I think the question is undeniably yes, the question then becomes, is the solution practical and do its tradeoffs represent a net benefit compared to the status quo? In this case the answer is clearly no. "Too early to say" is always true in technology so it's essentially meaningless. It's like if I said it's too early to tell if Diaspora will transform the social media landscape... sure, something unforeseeable could make that a real possibility but just like with cryptocurrency all the hype and fanfare has amounted to technically interesting novelty without much substance.

avmich 8y ago

We may long argue who should prove what and why, pointing to existing successes or failures. For me it's more interesting to figure out if the idea has merit, as to me merit is a hint to value. Bitcoin whitepaper state goals rather clearly, and the problems outlined there aren't going anywhere far right now. So the question is, can cryptocurrencies provide a solution? I'd say it's too early to say. Bitcoin looks like a much more serious idea than this article to me. On that level of analysis approaches like "come on people... etcetera etcetera" seem somewhat half-baked. The imagination jump which creators of cryptocurrencies made is much more significant and deserves a better review. The article is a good reminder that we need to think more here.

root_axis 8y ago
> So the question is, can cryptocurrencies provide a solution? I'd say it's too early to say. Well the stated goals of the bitcoin whitepaper are pretty narrow in scope, but setting that aside... Can cryptocurrency tokens provide a solution? I think the question is undeniably yes, the question then becomes, is the solution practical and do its tradeoffs represent a net benefit compared to the status quo? In this case the answer is clearly no. "Too early to say" is always true in technology so it's essentially meaningless. It's like if I said it's too early to tell if Diaspora will transform the social media landscape... sure, something unforeseeable could make that a real possibility but just like with cryptocurrency all the hype and fanfare has amounted to technically interesting novelty without much substance.