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> nobody is using it > no competitively successful commercial activity Those are two wildly different claims but I'll bite anyway: Your argument against DeFi

> nobody is using it > no competitively successful commercial activity Those are two wildly different claims but I'll bite anyway: Your argument against DeFi could be made about Schwab, or any brokerage providing margin so I don't find it very compelling. Is selling margin to gamblers not a "competitively successful commercial activity"? Your original claim was that there were no users. > crypto distributed betting markets are patently illegal That's like saying self driving cars are patently illegal. Of course they are (more illegal than grey market sports betting), but it's a nascent technology and it's not obvious that it will stay illegal.

hannasanarion 6y ago
Now you're just being deliberately obtuse. > semantics Every competent English speaker knows that the phrase "nobody uses X" is never meant to be taken literally. When I say "nobody uses PowerPC", I mean that its market share is miniscule and the industry has moved on, I am not claiming that there does not exist some nerd somewhere who maintains a 20 year old imac as a hobby, and finding that nerd is not a disproof. > margin trading Margin accounts are not commercial activity. When you buy or trade securities, whether on margin or otherwise, no new value is being created, no workers are being paid, no commodities are being traded, no products are being consumed. The entire market could vanish overnight and nobody would notice, because it isn't doing anything, it's just making increasingly complicated guesses at what other people will do. > betting is like self-driving cars Self driving cars are new technology. Online betting is not, it has been around since the beginning of the internet. Blockchain is doing nothing but helping the illegal gamblers to hide from law enforcement.
- thebean11 6y ago
  > When I say "nobody uses PowerPC", I mean that its market share is miniscule and the industry has moved on, I am not claiming that there does not exist some nerd somewhere who maintains a 20 year old imac as a hobby, and finding that nerd is not a disproof. Well that's bad analogy, because unlike PowerPC there are more users of Ethereum than ever before, and Ethereum is generating more revenue than ever before. > Self driving cars are new technology. Online betting is not, it has been around since the beginning of the internet. Blockchain is doing nothing but helping the illegal gamblers to hide from law enforcement. I think you're being obtuse. Ethereum is the new technology here, that enables a distributed betting platform that was previously not possible. Self driving cars are a new technology that enable a type of transportation (existing market, like betting) that previously wasn't possible.

hannasanarion 6y ago

Now you're just being deliberately obtuse. > semantics Every competent English speaker knows that the phrase "nobody uses X" is never meant to be taken literally. When I say "nobody uses PowerPC", I mean that its market share is miniscule and the industry has moved on, I am not claiming that there does not exist some nerd somewhere who maintains a 20 year old imac as a hobby, and finding that nerd is not a disproof. > margin trading Margin accounts are not commercial activity. When you buy or trade securities, whether on margin or otherwise, no new value is being created, no workers are being paid, no commodities are being traded, no products are being consumed. The entire market could vanish overnight and nobody would notice, because it isn't doing anything, it's just making increasingly complicated guesses at what other people will do. > betting is like self-driving cars Self driving cars are new technology. Online betting is not, it has been around since the beginning of the internet. Blockchain is doing nothing but helping the illegal gamblers to hide from law enforcement.

thebean11 6y ago
> When I say "nobody uses PowerPC", I mean that its market share is miniscule and the industry has moved on, I am not claiming that there does not exist some nerd somewhere who maintains a 20 year old imac as a hobby, and finding that nerd is not a disproof. Well that's bad analogy, because unlike PowerPC there are more users of Ethereum than ever before, and Ethereum is generating more revenue than ever before. > Self driving cars are new technology. Online betting is not, it has been around since the beginning of the internet. Blockchain is doing nothing but helping the illegal gamblers to hide from law enforcement. I think you're being obtuse. Ethereum is the new technology here, that enables a distributed betting platform that was previously not possible. Self driving cars are a new technology that enable a type of transportation (existing market, like betting) that previously wasn't possible.