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I’m sad to see HN become a place where people pat each other on the back for “burns”. (And I think GP makes a good point.) edit for context: parent originally

by cle 5y ago

I’m sad to see HN become a place where people pat each other on the back for “burns”. (And I think GP makes a good point.) edit for context: parent originally started with “BURN!” before edit

headmelted 5y ago
Fair, this isn't reddit. To explain the derision, I don't think the GP makes a good point at all, as crypto-adherents pre-suppose that there's a common acceptance that blockchain currencies are an internet-level breakthrough. Linked lists are useful. Merkle trees are useful. Blockchain currencies haven't so far proven a single use case they perform more usefully than existing systems. All that the ICO craze, the NFT craze and the De-Fi craze point to is that this is a solution in search of a problem. The only reason any of the crypto-based versions of those existing concepts (IPOs, collectibles, credit) have been able to accrue funds so far is due to fraud and mania. De-Fi could someday become useful if someone figures out a de-centralised way to handle unsecured credit, but how do you include trust in an eco-system that is based around a lack of trust? Even if someone solves that problem it won't be because of crypto, it'll be because of whatever novel idea they come up with to meet that specific need. Anytime a bitcoin video ends up in my YouTube feed I feel like I'm being offered quantum physics lessons by Deepak Chopra. Anyway, that's why I agree with the alchemy comment.
- thisisbrians 5y ago
  To set the record straight: I'm not even an "adherent" per-se, just a tech nerd who follows things closely. My point is that it's arrogant to claim to know the outcome of this grand experiment already. So many folks on both sides have already been so wrong so many times, yet hold firm to their ability to predict the future. Opinions are fine, but none of you are oracles.
  - headmelted 5y ago
    Totally agree - I’m not making any predictions here. All I’m saying is that it’s fine if people within that community believe this is as massive as they claim, but to have a common dialogue about it we would need to have common facts. To adherents it’s bigger than the Internet, to others it’s a ponzi scheme built around linked lists and arbitrary hashes.
bruce343434 5y ago
General Practitioner?
- thisisbrians 5y ago
  "General" does seem to be a demotion from "Original"...funny enough, I didn't catch this until you made your joke. Should I be offended??
- cle 5y ago
  Grandparent. As in “the parent of the parent of this post.”

by cle 5y ago

headmelted 5y ago

Fair, this isn't reddit. To explain the derision, I don't think the GP makes a good point at all, as crypto-adherents pre-suppose that there's a common acceptance that blockchain currencies are an internet-level breakthrough. Linked lists are useful. Merkle trees are useful. Blockchain currencies haven't so far proven a single use case they perform more usefully than existing systems. All that the ICO craze, the NFT craze and the De-Fi craze point to is that this is a solution in search of a problem. The only reason any of the crypto-based versions of those existing concepts (IPOs, collectibles, credit) have been able to accrue funds so far is due to fraud and mania. De-Fi could someday become useful if someone figures out a de-centralised way to handle unsecured credit, but how do you include trust in an eco-system that is based around a lack of trust? Even if someone solves that problem it won't be because of crypto, it'll be because of whatever novel idea they come up with to meet that specific need. Anytime a bitcoin video ends up in my YouTube feed I feel like I'm being offered quantum physics lessons by Deepak Chopra. Anyway, that's why I agree with the alchemy comment.

thisisbrians 5y ago
To set the record straight: I'm not even an "adherent" per-se, just a tech nerd who follows things closely. My point is that it's arrogant to claim to know the outcome of this grand experiment already. So many folks on both sides have already been so wrong so many times, yet hold firm to their ability to predict the future. Opinions are fine, but none of you are oracles.
- headmelted 5y ago
  Totally agree - I’m not making any predictions here. All I’m saying is that it’s fine if people within that community believe this is as massive as they claim, but to have a common dialogue about it we would need to have common facts. To adherents it’s bigger than the Internet, to others it’s a ponzi scheme built around linked lists and arbitrary hashes.

bruce343434 5y ago

General Practitioner?

thisisbrians 5y ago
"General" does seem to be a demotion from "Original"...funny enough, I didn't catch this until you made your joke. Should I be offended??
cle 5y ago
Grandparent. As in “the parent of the parent of this post.”