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I like the spirit of your comment - that's the actual hacker mindset. Way too many comments on Bitcoin/Crypto-related submissions on HN are just knee-jerk react

I like the spirit of your comment - that's the actual hacker mindset. Way too many comments on Bitcoin/Crypto-related submissions on HN are just knee-jerk reactions that don't really contribute to a constructive conversation. When I started lurking on HN in 2010, it was a very different culture. I miss these days! Regarding your concern around economic inequality: why do you think that people would fall further behind? I'd argue that cryptocurrencies have had a positive effect on inequality, particularly in countries like Argentina, Nigeria, Venezuela, etc. Without cryptocurrencies, people in these countries - particularly the ones who don't have assets in other countries - would have lost a lot of wealth due to the financial instability of their respective economies. As cryptocurrencies are here to stay, I'd even argue that they are currently still underpriced and hence provide many people from the lower income strata of society in 1st world countries with an opportunity to improve their financial wellbeing. This might not be true for people who don't understand technology, but then I ask myself what the current system has to offer to improve inequality for those who lag behind economically and in terms of education. A constructive idea how we could avoid further deterioration in terms of economic inequality: countries / communities could set up cryptocurrency trusts similar to Norway's Oil investment funds that are funded from cryptocurrency that was mined from e.g. excess energy in the grid from renewables. They could then invest a certain percentage of their cryptocurrency in trustworthy DeFi platforms to further increase yield. Returns from these trusts are invested into causes that benefit the public, e.g. education, health care, etc.

crazydoggers 6y ago
Where were you the other day! Lol. Excellent points. I think like with a lot of tech, if there’s a potential to liberate people, there’s also the potential for it to work against them too. The internet helped foster open communication when it evolved, helping with the fall of the USSR and the lifting of the iron curtain... but it has evolved now in many places as a way to spread more propaganda, and track citizens movements etc. Crypto trusts sound like a good idea. I also like how the US targeted family’s and kids for savings bonds back in the day. Get people started in the direction of understanding financial instruments, and then teach them more as they go. Ultimate I’m in the educate, educate, educate camp. If we can lobby our collective governments to start that earlier than later, so much the better. When people can see cryptocurrency working for them rather than just the financial sectors, then it’s no longer the “enemy”. Maybe we can have a small fund of highly divisible crypto, or even a totally separate chain that schools can use. Kids in computer science classes then have an on ramp to learning how it works. It’s already a mystery to most. I do fear what might happen when the vast majority of people don’t understand what may become a significant part of their economy.
- JulianRaphael 6y ago
  Agreed, at the end of the day all technology is but a tool. Technological progress also requires human progress, i.e. we have to upgrade our mental models and values as technology allows us to engage at unprecedented scale. Critical thinking and empathy seem to be the two key missing skills in the 21st century and modern society doesn't place a lot of emphasis on developing these skills. That's where I'm fully with you: the key is to educate, educate and educate. But we also need to upgrade our education system accordingly! My strongest criticism of the cryptocurrency movement is that there are very few genuine educators. Hackers who truly believe in decentralisation and self-empowerment and are able to communicate the basic concepts in a way that kids and older people can get it. OG Whales who have made a fortune and now could invest into tools and services to make cryptocurrencies accessible to everyone. Or even seed some of the crypto funds that could help drive upward mobility for people from lower income strata. The idea behind cryptocurrencies and the values are so much more important than their price and getting rich quick. But instead of educating and sharing some of their wealth, most prominent cryptocurrency advocates just talk about the price of Bitcoin, engage in ad hominem attacks on folks who don't get it and boast with their wealth. Imagine what all these millions and billions of wealth could achieve in terms of educating the masses and winning them over for the cause!

crazydoggers 6y ago

Where were you the other day! Lol. Excellent points. I think like with a lot of tech, if there’s a potential to liberate people, there’s also the potential for it to work against them too. The internet helped foster open communication when it evolved, helping with the fall of the USSR and the lifting of the iron curtain... but it has evolved now in many places as a way to spread more propaganda, and track citizens movements etc. Crypto trusts sound like a good idea. I also like how the US targeted family’s and kids for savings bonds back in the day. Get people started in the direction of understanding financial instruments, and then teach them more as they go. Ultimate I’m in the educate, educate, educate camp. If we can lobby our collective governments to start that earlier than later, so much the better. When people can see cryptocurrency working for them rather than just the financial sectors, then it’s no longer the “enemy”. Maybe we can have a small fund of highly divisible crypto, or even a totally separate chain that schools can use. Kids in computer science classes then have an on ramp to learning how it works. It’s already a mystery to most. I do fear what might happen when the vast majority of people don’t understand what may become a significant part of their economy.

JulianRaphael 6y ago
Agreed, at the end of the day all technology is but a tool. Technological progress also requires human progress, i.e. we have to upgrade our mental models and values as technology allows us to engage at unprecedented scale. Critical thinking and empathy seem to be the two key missing skills in the 21st century and modern society doesn't place a lot of emphasis on developing these skills. That's where I'm fully with you: the key is to educate, educate and educate. But we also need to upgrade our education system accordingly! My strongest criticism of the cryptocurrency movement is that there are very few genuine educators. Hackers who truly believe in decentralisation and self-empowerment and are able to communicate the basic concepts in a way that kids and older people can get it. OG Whales who have made a fortune and now could invest into tools and services to make cryptocurrencies accessible to everyone. Or even seed some of the crypto funds that could help drive upward mobility for people from lower income strata. The idea behind cryptocurrencies and the values are so much more important than their price and getting rich quick. But instead of educating and sharing some of their wealth, most prominent cryptocurrency advocates just talk about the price of Bitcoin, engage in ad hominem attacks on folks who don't get it and boast with their wealth. Imagine what all these millions and billions of wealth could achieve in terms of educating the masses and winning them over for the cause!