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Success rate of blockchain project is not 0%. Many people have became rich this way. Many people use cryptocurrencies actively.

acdha 8y ago
Many people have become rich from violating the law or selling to other speculators. It’s much harder to come up with an example of someone who has built a viable business with good long-term potential – it’s like the dotcom bubble with only etoy and cement.com but no Amazon or eBay.
duskwuff 8y ago
> Many people have became rich this way. Some people have made money through speculating on cryptocurrencies or tokens. A similar, if not larger, number of people have also lost money this way. More importantly, the "success" of these traders has nothing to do with the underlying technology -- they could have been similarly successful in trading any other financial instrument. > Many people use cryptocurrencies actively. Like who? And for what? Mainstream merchants have generally been moving away from accepting cryptocurrencies, often due to price volatility or long transaction times. Some people still use cryptocurrencies to make illegal transactions online, but certainly not "many people", and in any case I'm not sure that's a success...
- qwerty456127 8y ago
  > Some people still use cryptocurrencies to make illegal transactions Illegal ≠ evil. Some countries introduce and enforce ridiculous laws that only benefit the ruling regime and their oligarchy and not the people. AFAIK in countries with crazy governments like Russia and Venezuela cryptocurrencies are considered a relatively reliable (and accessible) investment instrument letting people to save their money when the government does some bullshit to ruin the national currency rate. There also are legitimate things (e.g. porn sites subscriptions) that people don't want to show up in their official credit card statements as that would be a shame in the context of their society's dominant culture. It also feels kind of hypocritical to consider whoever smokes weed in e.g. Canada a normal person but whoever does this in Korea (where it's outlawed) a wicked one.

acdha 8y ago

Many people have become rich from violating the law or selling to other speculators. It’s much harder to come up with an example of someone who has built a viable business with good long-term potential – it’s like the dotcom bubble with only etoy and cement.com but no Amazon or eBay.

duskwuff 8y ago

> Many people have became rich this way. Some people have made money through speculating on cryptocurrencies or tokens. A similar, if not larger, number of people have also lost money this way. More importantly, the "success" of these traders has nothing to do with the underlying technology -- they could have been similarly successful in trading any other financial instrument. > Many people use cryptocurrencies actively. Like who? And for what? Mainstream merchants have generally been moving away from accepting cryptocurrencies, often due to price volatility or long transaction times. Some people still use cryptocurrencies to make illegal transactions online, but certainly not "many people", and in any case I'm not sure that's a success...

qwerty456127 8y ago
> Some people still use cryptocurrencies to make illegal transactions Illegal ≠ evil. Some countries introduce and enforce ridiculous laws that only benefit the ruling regime and their oligarchy and not the people. AFAIK in countries with crazy governments like Russia and Venezuela cryptocurrencies are considered a relatively reliable (and accessible) investment instrument letting people to save their money when the government does some bullshit to ruin the national currency rate. There also are legitimate things (e.g. porn sites subscriptions) that people don't want to show up in their official credit card statements as that would be a shame in the context of their society's dominant culture. It also feels kind of hypocritical to consider whoever smokes weed in e.g. Canada a normal person but whoever does this in Korea (where it's outlawed) a wicked one.