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Nobody has ever been able to explain to me why it has any value for our society. https://louwrentius.com/cryptocurrencies-are-detrimental-to-society.html https

Nobody has ever been able to explain to me why it has any value for our society. https://louwrentius.com/cryptocurrencies-are-detrimental-to-society.html https://louwrentius.com/cryptocurrencies-are-detrimental-to-...

bitxbitxbitcoin 6y ago
Reading through your post, I want to point out that all your insightful reasons why cryptocurrency should be shut down are actually acknowledged problems that have been worked on by many in the space leading to solutions that address different pain points you've brought up. Examples include stablecoins (this name is meant to be as ironic as you think it is), private blockchains (here's a hint, nobody is using these to buy drugs or demand ransom), blockchains protected by something other than "energy wasting" Proof of Work. I do have a few points for you to consider that might help you see the value of all this experimentation for society: - Imagine someone living in a country such as Cuba or Venezuela or Iran that wants to buy things online (no, not heroin) and why they might find the existence of something like Bitcoin or Ethereum useful. - You call for it all to be shut down, but how exactly would that be accomplished? (Most) cryptocurrencies are open source software and in a fringe scenario where experimentation here only serves to improve the anti-fraud precautions surrounding traditional currencies, isn't that still of some value to our society? Some might argue that these supposed benefits don't outweigh the existing harm and therefore there isn't net value to society and there I'd just say we need to agree to disagree. Have I perhaps changed your mind that cryptocurrencies don't have any value for our global society?
wslyvh 6y ago
Blockchain is not just crypto currencies. It was just the first use-case. I'd recommend to check out some of the links from the 1st section: Blockchain foundations, on why we need decentralized technologies, such as blockchain. Our current internet is broken and blockchain could potentially help to make a change.

bitxbitxbitcoin 6y ago

Reading through your post, I want to point out that all your insightful reasons why cryptocurrency should be shut down are actually acknowledged problems that have been worked on by many in the space leading to solutions that address different pain points you've brought up. Examples include stablecoins (this name is meant to be as ironic as you think it is), private blockchains (here's a hint, nobody is using these to buy drugs or demand ransom), blockchains protected by something other than "energy wasting" Proof of Work. I do have a few points for you to consider that might help you see the value of all this experimentation for society: - Imagine someone living in a country such as Cuba or Venezuela or Iran that wants to buy things online (no, not heroin) and why they might find the existence of something like Bitcoin or Ethereum useful. - You call for it all to be shut down, but how exactly would that be accomplished? (Most) cryptocurrencies are open source software and in a fringe scenario where experimentation here only serves to improve the anti-fraud precautions surrounding traditional currencies, isn't that still of some value to our society? Some might argue that these supposed benefits don't outweigh the existing harm and therefore there isn't net value to society and there I'd just say we need to agree to disagree. Have I perhaps changed your mind that cryptocurrencies don't have any value for our global society?

wslyvh 6y ago

Blockchain is not just crypto currencies. It was just the first use-case. I'd recommend to check out some of the links from the 1st section: Blockchain foundations, on why we need decentralized technologies, such as blockchain. Our current internet is broken and blockchain could potentially help to make a change.