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Bans are totally justified. They will achieve two major outcomes: 1. Tank the price, thus freeing up energy and advanced manufactured goods (which are in short
by ArkanExplorer 5y ago
Bans are totally justified. They will achieve two major outcomes:
1. Tank the price, thus freeing up energy and advanced manufactured goods (which are in shortages right now) for proper productive use.
2. Significantly lessen the instances of Ransomware, since companies will have no legal mechanism to actually pay.
Whether the coins continue to exist informally and are traded in some kind of primitive barter system is irrelevant.
- rantwasp 5y agoyup. also we’ll end covid, catch all the people involved in human trafficking, give everyone free clean water, free organic food, free internet and a free tesla. climate change? gone. everyone’s IQ is gonna increase by 120 points. We’re gonna develop space technology that will put us on another habitable planet, outside of the solar system before the end of the decade!!! next time you think a ban is a good thing, imagine I would ban something you do. It doesn’t even have to be something essential. Maybe I ban a hobby of yours. How does that feel?
- EvilEy3 5y agoOf course not, meme currency will do that! Look how much good did it bring, all those GPU shortages, all the wasted electricity.
- wickoff 5y agoAs long as we're banning things we should also ban all videogames, they are too addictive. There is nothing more precious than time and it can be spent much more productively. And alcohol for obvious reasons.
- vanviegen 5y agoThe difference being that the harm caused by Bitcoin (or at least the negative effects pointed out by GP) is externalized from the investors to society as a whole.
- rantwasp 5y agoeverything is externalized. you don’t live in a bubble. You are part of a ecosystem with your I/O connected to that system.
- throwkeep 5y agoBoth also use a lot of energy themselves.
- ulzeraj 5y agoThats another industry that uses lots of energy for something with no tangible value. Will the same people asking to ban cryptocurrencies be content with it or will they move towards banning other unapproved energy consumption activities?
- elzbardico 5y agoAs long as ransomware is possible, it will continue. Criminals will come with a way to be paid, and some of those ways would involve some level of physical violence and organized armed intermediates.
- rijoja 5y agoBesides the ledger of all transactions are totally in the public. Which means that anyone could trace any transaction.
- rijoja 5y agoHow would you enforce the ban in practical terms?
- neysofu 5y ago> 2. Significantly lessen the instances of Ransomware, since companies will have no legal mechanism to actually pay. That sounds backwards. I'd rather have hospitals and companies learn some hard lesson in cybersecurity through the threat of cryptocurrency-enabled ransomware than banning a medium of exchange altogether. Finally people are starting to care about backups and best practices.