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I would like to see a total ban/block of any kind of cryptocurrency articles on HN. I'm happy to include my own, if that's what it takes. https://louwrentius.c

I would like to see a total ban/block of any kind of cryptocurrency articles on HN. I'm happy to include my own, if that's what it takes. https://louwrentius.com/cryptocurrencies-are-detrimental-to-society.html https://louwrentius.com/cryptocurrencies-are-detrimental-to-...

coinward 6y ago
you want to censor discussion around a promising technology. why?
- shobith 6y ago
  I guess you can make a case for the neo-luddites
- beachjpg 6y ago
  Bitcoin is not really liked on HN. I'm guessing most of the older HN guys don't seem really interested in the tech or is terrified by the price action, perhaps
  - Sschellbach 6y ago
    I'm on HN. I like Bitcoin. Surely, I am not alone
    - xur17 6y ago
      You are not. I will say, the general consensus seems to be negative, but I wouldn't say it's disliked by all.
- shpongled 6y ago
  The idea of something being outside the control of the Nanny state terrifies them. One of his primary arguments is that cryptocurrencies "facilitate crime".
coinward 6y ago
you ask for a benefit. a benefit of Bitcoin is zero unexpected inflation. Zero unexpected inflation means the cantillon effect is reduced with adoption of Bitcoin as money, driving out the systems behind central bank caused wealth inequality
- akavi 6y ago
  Seems like bitcoin experienced a whole lot of unexpected inflation in early March this year. And fall of last year. And November 2018. And January 2018. And... well, you get the picture. Bitcoin guarantees the supply remains fixed. But inflation is also a function of demand, and that is well outside its control.
  - notahacker 6y ago
    Indeed it's the exact opposite: as the supply of the dollar is a function of its demand [at an interest rate which can be varied if an inflation target is expected to be missed] its inflation is almost entirely predictable. cf BTC, which predicts zero inflation but has experienced more diminution in purchasing power since late 2018 than the dollar has seen in decades.
    - Sschellbach 6y ago
      The supply of dollars is a function of the monetary policy. Are you suggesting you can predict what M2 will be in 5 years, or even 6 months? Please share your expectation.
      - notahacker 6y ago
        I can confidently predict that M2 will be whatever it needs to be to keep PCE inflation around the 2% mark.
        Sschellbach 6y ago
        wake up. real inflation in the US has been closer to 8%. Look at real estate, equities, gold. you can't see it coming, all fiat ends with hyperinflation
deleted 6y ago
[deleted]
Acrobatic_Road 6y ago
I'd like to answer your challenge that you put forward in your article. I can think of two straightforward uses for cryptos. 1. It helps evade financial censorship imposed on legal businesses and individuals. Ex: 4chan is financially censored, and can only take bitcoin and other Cryptos as payment despite having broken no law. 2. Financial Privacy (in say, monero). Ex: Support controversial causes without having to worry about losing your job in case of a leak.

coinward 6y ago

you want to censor discussion around a promising technology. why?

shobith 6y ago
I guess you can make a case for the neo-luddites
beachjpg 6y ago
Bitcoin is not really liked on HN. I'm guessing most of the older HN guys don't seem really interested in the tech or is terrified by the price action, perhaps
- Sschellbach 6y ago
  I'm on HN. I like Bitcoin. Surely, I am not alone
  - xur17 6y ago
    You are not. I will say, the general consensus seems to be negative, but I wouldn't say it's disliked by all.
shpongled 6y ago
The idea of something being outside the control of the Nanny state terrifies them. One of his primary arguments is that cryptocurrencies "facilitate crime".

coinward 6y ago

you ask for a benefit. a benefit of Bitcoin is zero unexpected inflation. Zero unexpected inflation means the cantillon effect is reduced with adoption of Bitcoin as money, driving out the systems behind central bank caused wealth inequality

akavi 6y ago
Seems like bitcoin experienced a whole lot of unexpected inflation in early March this year. And fall of last year. And November 2018. And January 2018. And... well, you get the picture. Bitcoin guarantees the supply remains fixed. But inflation is also a function of demand, and that is well outside its control.
- notahacker 6y ago
  Indeed it's the exact opposite: as the supply of the dollar is a function of its demand [at an interest rate which can be varied if an inflation target is expected to be missed] its inflation is almost entirely predictable. cf BTC, which predicts zero inflation but has experienced more diminution in purchasing power since late 2018 than the dollar has seen in decades.
  - Sschellbach 6y ago
    The supply of dollars is a function of the monetary policy. Are you suggesting you can predict what M2 will be in 5 years, or even 6 months? Please share your expectation.
    - notahacker 6y ago
      I can confidently predict that M2 will be whatever it needs to be to keep PCE inflation around the 2% mark.
      - Sschellbach 6y ago
        wake up. real inflation in the US has been closer to 8%. Look at real estate, equities, gold. you can't see it coming, all fiat ends with hyperinflation

deleted 6y ago

[deleted]

Acrobatic_Road 6y ago

I'd like to answer your challenge that you put forward in your article. I can think of two straightforward uses for cryptos. 1. It helps evade financial censorship imposed on legal businesses and individuals. Ex: 4chan is financially censored, and can only take bitcoin and other Cryptos as payment despite having broken no law. 2. Financial Privacy (in say, monero). Ex: Support controversial causes without having to worry about losing your job in case of a leak.