3 ms·

Not even that there is absence of evidence -- but absence of evidence is not evidence of absence. Moreover, your cherrypicking of "Internet-type" inventions tha

by jrm4 5y ago

Not even that there is absence of evidence -- but absence of evidence is not evidence of absence. Moreover, your cherrypicking of "Internet-type" inventions that develop very quickly are definitely outliers. By contrast, the answering machine was invented in the 1930's, and didn't take off until 50ish years later. It's absurdly and ignorantly early to declare "crypto has no utility."

aww_dang 5y ago
Utility is subjective. If you don't find utility in something, don't use it. Compare these voluntary relationships to the coercive government solutions, like the CBDCs favored by the author.
Jasper_ 5y ago
You mean the answering machine didn't take off until after the wars and great depression ended, suburban life started becoming the default for large groups of people, and they were starting to be away from home for long periods of time, and that before then it saw only limited use by the fairly small numbers of people who were away from their home for long periods of time? Well now I'm convinced. Guess I better buy tickets to El Salvador because clearly crypto is going to the mooooon.
- underseacables 5y ago
  To be fair, the answering machine was suppressed by Bell Labs, even though magnetic tape recording was invented in the 1930s. https://www.jstor.org/stable/3106703 https://www.jstor.org/stable/3106703
trident5000 5y ago
You're on HN. Crypto isnt liked because it might steal jobs/shake up the status quo. More threads will be posted as user adoption continues and especially when price rises. Last temper tantrum was like 6 months ago so its probably about that time.
- agloeregrets 5y ago
  Crypto in general isn't liked because it generally is BS propped up by holders to others to help their position like an MLM coworker. It isn't green (in it's current form for most). It doesn't solve real world problems(in it's current form for most). And it has effectively no avenue to ever being supported by major governments because lol, shocker, they would rather regulate money. The thing about it all is that it has use, but 98% of all who are pro-crypto are just trying to get in on the gold rush rather than actually make it useful. Diamond hands is good for your position but awful for making it an actual currency. I'm sure I'll get some five paragraph long response to this pin pointing little bits here and there that might make it possible but the fact of the matter is that as it currently exists and is being propped up, it is just burning our planet for a potential goldrush.
  - trident5000 5y ago
    Ok. While you're in denial - its being adopted by social media platforms (twitter), ecommerce platforms (Amazon), its on corporate balance sheets (tesla, spacex, microstrategy, some others), all major payment vendors, banks (JMP), and something like 70 million americans, hundreds of millions globally own it and disagree with you. Its useful to have a money system that isnt abused by central banks, destroying what you've worked for your whole life. The problem is accelerating and people seem to have found a solution. And energy "waste" is 1) an opinion of its utility and 2) more a function of grid structure. If the energy grid globally was all green then btc would be all green. It also less than 1% of global energy usage and does not scale with usage. It scales with price discovery which eventually maxes out long term. You dont need to participate if you dont want to but sweeping it under the rug as all a scam is head in sand behavior.
    - bamboo2 5y ago
      JPM? If Jamie getting into it it can’t be too bad, but I looked just now and find this, “I'm not a bitcoin supporter,” Dimon said during The Wall Street Journal CEO Council summit on Tuesday. “I don't care about bitcoin. I have no interest in it.” Edit: sorry, I got the wrong bank (jpm vs jmp). Thanks for clarifying below.

by jrm4 5y ago

aww_dang 5y ago

Utility is subjective. If you don't find utility in something, don't use it. Compare these voluntary relationships to the coercive government solutions, like the CBDCs favored by the author.

Jasper_ 5y ago

You mean the answering machine didn't take off until after the wars and great depression ended, suburban life started becoming the default for large groups of people, and they were starting to be away from home for long periods of time, and that before then it saw only limited use by the fairly small numbers of people who were away from their home for long periods of time? Well now I'm convinced. Guess I better buy tickets to El Salvador because clearly crypto is going to the mooooon.

underseacables 5y ago
To be fair, the answering machine was suppressed by Bell Labs, even though magnetic tape recording was invented in the 1930s. https://www.jstor.org/stable/3106703 https://www.jstor.org/stable/3106703

trident5000 5y ago

You're on HN. Crypto isnt liked because it might steal jobs/shake up the status quo. More threads will be posted as user adoption continues and especially when price rises. Last temper tantrum was like 6 months ago so its probably about that time.

agloeregrets 5y ago
Crypto in general isn't liked because it generally is BS propped up by holders to others to help their position like an MLM coworker. It isn't green (in it's current form for most). It doesn't solve real world problems(in it's current form for most). And it has effectively no avenue to ever being supported by major governments because lol, shocker, they would rather regulate money. The thing about it all is that it has use, but 98% of all who are pro-crypto are just trying to get in on the gold rush rather than actually make it useful. Diamond hands is good for your position but awful for making it an actual currency. I'm sure I'll get some five paragraph long response to this pin pointing little bits here and there that might make it possible but the fact of the matter is that as it currently exists and is being propped up, it is just burning our planet for a potential goldrush.
- trident5000 5y ago
  Ok. While you're in denial - its being adopted by social media platforms (twitter), ecommerce platforms (Amazon), its on corporate balance sheets (tesla, spacex, microstrategy, some others), all major payment vendors, banks (JMP), and something like 70 million americans, hundreds of millions globally own it and disagree with you. Its useful to have a money system that isnt abused by central banks, destroying what you've worked for your whole life. The problem is accelerating and people seem to have found a solution. And energy "waste" is 1) an opinion of its utility and 2) more a function of grid structure. If the energy grid globally was all green then btc would be all green. It also less than 1% of global energy usage and does not scale with usage. It scales with price discovery which eventually maxes out long term. You dont need to participate if you dont want to but sweeping it under the rug as all a scam is head in sand behavior.
  - bamboo2 5y ago
    JPM? If Jamie getting into it it can’t be too bad, but I looked just now and find this, “I'm not a bitcoin supporter,” Dimon said during The Wall Street Journal CEO Council summit on Tuesday. “I don't care about bitcoin. I have no interest in it.” Edit: sorry, I got the wrong bank (jpm vs jmp). Thanks for clarifying below.