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I came looking for this boilerplate comment, which always appears on the top at HN. I am not disappointed. Can we move on and accept that not everyone who is u

by ews 5y ago

I came looking for this boilerplate comment, which always appears on the top at HN. I am not disappointed. Can we move on and accept that not everyone who is using crypto is a dark hat crypto-libertarian hacker already?

wil421 5y ago
OP is just countering the cytoto fanboys that come out on HN. I made a similar comment about Tesla self driving vaporware and the fanboys did not disappoint. Crypto is touted as the anti dollar/euro/pound/government backed non-fiat currency yet it is laughable that users are using governments for recourse. It’s also laughable coinbase is guaranteeing a 150k pound reimbursement if their customers funds are illegaly stolen. They are a basically a bank with FDIC backed accounts, except they’re self backed.
- deleted 5y ago
  [deleted]
evol262 5y ago
Please name a use for crypto which is not "buying questionable substances from the internet" or "like stocks, except that I can make more of them with my GPU". They are, in every way, of less value to the economy than traditional fiat currency. * They have no guarantees or equivalent to the FDIC * Their value similarly unpinned to anything (for the sake of argument, let's ignore basketed currency, since crypto is not comparble to that and less table than those) other than investor confidence like FOREX * They are not tax havens * Their "production" consumes as much energy as some medium-sized nation-states * Chasing the hype has exacerbated the chip shortage as "peak capitalism" has encouraged fabs to produce GPUs for maximize profits at the expense of, say, chips for cars with their limited supplies Not everyone who uses crypto is a dark hat crypto-libertarian hacker. Few people who clamor for crypto have good reasons to use it other than "why not have it as an option for people who want it?" or "I wanna do this stuff without being tracked".
- jokethrowaway 5y ago
  Unfortunately it's mostly speculators. We need way more crypto-libertarian hackers.
- matheusmoreira 5y ago
  > Few people who clamor for crypto have good reasons to use it other than [...] "I wanna do this stuff without being tracked". Why do you need more? This is a perfectly valid reason for cryptocurrency to exist. All digital transactions should work like physical cash. Banks and credit card companies analyzing your transactions should be literally impossible. Payment processors should not even exist much less act like the financial gatekeepers they are today.

by ews 5y ago

wil421 5y ago

OP is just countering the cytoto fanboys that come out on HN. I made a similar comment about Tesla self driving vaporware and the fanboys did not disappoint. Crypto is touted as the anti dollar/euro/pound/government backed non-fiat currency yet it is laughable that users are using governments for recourse. It’s also laughable coinbase is guaranteeing a 150k pound reimbursement if their customers funds are illegaly stolen. They are a basically a bank with FDIC backed accounts, except they’re self backed.

deleted 5y ago
[deleted]

evol262 5y ago

Please name a use for crypto which is not "buying questionable substances from the internet" or "like stocks, except that I can make more of them with my GPU". They are, in every way, of less value to the economy than traditional fiat currency. * They have no guarantees or equivalent to the FDIC * Their value similarly unpinned to anything (for the sake of argument, let's ignore basketed currency, since crypto is not comparble to that and less table than those) other than investor confidence like FOREX * They are not tax havens * Their "production" consumes as much energy as some medium-sized nation-states * Chasing the hype has exacerbated the chip shortage as "peak capitalism" has encouraged fabs to produce GPUs for maximize profits at the expense of, say, chips for cars with their limited supplies Not everyone who uses crypto is a dark hat crypto-libertarian hacker. Few people who clamor for crypto have good reasons to use it other than "why not have it as an option for people who want it?" or "I wanna do this stuff without being tracked".

jokethrowaway 5y ago
Unfortunately it's mostly speculators. We need way more crypto-libertarian hackers.
matheusmoreira 5y ago
> Few people who clamor for crypto have good reasons to use it other than [...] "I wanna do this stuff without being tracked". Why do you need more? This is a perfectly valid reason for cryptocurrency to exist. All digital transactions should work like physical cash. Banks and credit card companies analyzing your transactions should be literally impossible. Payment processors should not even exist much less act like the financial gatekeepers they are today.