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The hyper-rationalistic world view of this article is striking. Crypto, as an asset class, is easy to understand. It has the same basis as collectables or art:

The hyper-rationalistic world view of this article is striking. Crypto, as an asset class, is easy to understand. It has the same basis as collectables or art: human mimetics, desire and scarcity. If you look for "intrinsic value" you miss a lot of human motivation.

dsizzle 5y ago
He addressed the art "narrative"-- and dismissed that basis because cryptocurrencies "aren’t being discussed or valued in terms of this model." I think he has a point. He doesn't discuss NFTs though, which seems pretty directly related to art.
deleted 5y ago
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ur-whale 5y ago
> The hyper-rationalistic world view of this article The author is anything but rational about crypto. He actually is fanatically against it to the point where I'm thinking we can consider ourselves lucky he didn't chose to fixate on anything religion-related instead. Which is not surprising if you read anything else he has written (like on FP stuff): the guy simply does not have the mechanisms/wires for nuanced opinions in his brain. What would be interesting is figuring out the actual why he developed such a deep hatred of cryptos. It's probably buried somewhere in the stuff he's been spewing over the years, but to find it, you'd have to read a lot of it, and my limit when I read his prose is around 5mn. If anyone happens to land on the relevant nugget, please post it here.
- TheColorYellow 5y ago
  I think he's upset that more people don't like Haskell.
acdha 5y ago
Describing it as being like art is the third attempt to rebrand after failing to be usable as a currency or store of value but it’s even harder to buy that sales pitch because there is no inherent desirability to random hashes and there’s no effective scarcity when everyone can create or fork a chain rather than pay a premium for other people’s hashes.
- golemotron 5y ago
  That is why it is more like performance art. The drama around forks and the market are part of the performance.

dsizzle 5y ago

He addressed the art "narrative"-- and dismissed that basis because cryptocurrencies "aren’t being discussed or valued in terms of this model." I think he has a point. He doesn't discuss NFTs though, which seems pretty directly related to art.

deleted 5y ago

[deleted]

ur-whale 5y ago

> The hyper-rationalistic world view of this article The author is anything but rational about crypto. He actually is fanatically against it to the point where I'm thinking we can consider ourselves lucky he didn't chose to fixate on anything religion-related instead. Which is not surprising if you read anything else he has written (like on FP stuff): the guy simply does not have the mechanisms/wires for nuanced opinions in his brain. What would be interesting is figuring out the actual why he developed such a deep hatred of cryptos. It's probably buried somewhere in the stuff he's been spewing over the years, but to find it, you'd have to read a lot of it, and my limit when I read his prose is around 5mn. If anyone happens to land on the relevant nugget, please post it here.

TheColorYellow 5y ago
I think he's upset that more people don't like Haskell.

acdha 5y ago

Describing it as being like art is the third attempt to rebrand after failing to be usable as a currency or store of value but it’s even harder to buy that sales pitch because there is no inherent desirability to random hashes and there’s no effective scarcity when everyone can create or fork a chain rather than pay a premium for other people’s hashes.

golemotron 5y ago
That is why it is more like performance art. The drama around forks and the market are part of the performance.