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Don’t people who play video games screw over anyone who wants a graphics card to render 3D graphics for movies by your logic? Have you looked into how strike.m

Don’t people who play video games screw over anyone who wants a graphics card to render 3D graphics for movies by your logic? Have you looked into how strike.me is using Bitcoin? It’s essentially a Venmo/cash app competitor that is transacting over the bitcoin lightning network. So you keep your balance in usd but because lightning provides instant transactions when you want to spend to another lightning user from strike they will buy bitcoin at the current price and send the transaction on your behalf or vice versa. What’s cool about this is that you don’t know anything about the other end of the transaction. I believe this is the direction Dorsey wants cash app to go in.

MereInterest 5y ago
> Don’t people who play video games screw over anyone who wants a graphics card to render 3D graphics for movies by your logic? To some extent, yes. In those cases, there is optimization between different types of value being found, and different tradeoffs being made. There is intrinsic value in entertainment, both from video games and movies. There is instrumental value in, for example, machine learning model training. The difference I see with cryptocurrencies is that they provide no significant value, either intrinsic or instrumental. It isn't a matter of tradeoffs, but a choice between producing some value at all, or producing practically none. I will concede that there is some amount of entertainment value that people may get from watching cryptocurrencies rise and fall, but that same entertainment could be found in any other form of gambling. > Have you looked into how strike.me is using Bitcoin? Honestly, I try to avoid the new cryptocurrency product developments in the same way that I avoid reading about new homeopathic "remedies". In both cases, while there are variations, the foundation on which they are built is so fundamentally flawed that the end-product will be flawed as well. This is the first I'm heard about strike.me. Looking into it, their website is incredibly sparse on details, and your comment gives more information than their FAQ. The main piece is that transactions are resolved using the Lightning network. That's the type I had been referring to as actually being a bank with the off-chain transactions, but skirting all banking regulations. With that, I wouldn't trust any money that's held in a strike.me account, because either strike.me or their Lightning provider is functionally a bank but without any regulations.
Mordisquitos 5y ago
> Don’t people who play video games screw over anyone who wants a graphics card to render 3D graphics for movies by your logic? There is a hard ceiling to the number of GPUs of a given generation that even the most enthusiastic computer game player might realistically want to have at the same time, and it can be counted with the fingers of one hand. This is not the case for cryptocurrency miners. On the other side of things, people and businesses who render 3D graphics for films may not have a hard ceiling as such, but they certainly face diminishing returns for their investment above a certain number of GPUs, and at a certain point they would incur in downright losses. This is not the case for cryptocurrency miners either.

MereInterest 5y ago

> Don’t people who play video games screw over anyone who wants a graphics card to render 3D graphics for movies by your logic? To some extent, yes. In those cases, there is optimization between different types of value being found, and different tradeoffs being made. There is intrinsic value in entertainment, both from video games and movies. There is instrumental value in, for example, machine learning model training. The difference I see with cryptocurrencies is that they provide no significant value, either intrinsic or instrumental. It isn't a matter of tradeoffs, but a choice between producing some value at all, or producing practically none. I will concede that there is some amount of entertainment value that people may get from watching cryptocurrencies rise and fall, but that same entertainment could be found in any other form of gambling. > Have you looked into how strike.me is using Bitcoin? Honestly, I try to avoid the new cryptocurrency product developments in the same way that I avoid reading about new homeopathic "remedies". In both cases, while there are variations, the foundation on which they are built is so fundamentally flawed that the end-product will be flawed as well. This is the first I'm heard about strike.me. Looking into it, their website is incredibly sparse on details, and your comment gives more information than their FAQ. The main piece is that transactions are resolved using the Lightning network. That's the type I had been referring to as actually being a bank with the off-chain transactions, but skirting all banking regulations. With that, I wouldn't trust any money that's held in a strike.me account, because either strike.me or their Lightning provider is functionally a bank but without any regulations.

Mordisquitos 5y ago

> Don’t people who play video games screw over anyone who wants a graphics card to render 3D graphics for movies by your logic? There is a hard ceiling to the number of GPUs of a given generation that even the most enthusiastic computer game player might realistically want to have at the same time, and it can be counted with the fingers of one hand. This is not the case for cryptocurrency miners. On the other side of things, people and businesses who render 3D graphics for films may not have a hard ceiling as such, but they certainly face diminishing returns for their investment above a certain number of GPUs, and at a certain point they would incur in downright losses. This is not the case for cryptocurrency miners either.