5 ms·

The author is also the author of the book "Attack of the 50 Foot Blockchain". It seems more like a hit piece than a news article.

ABeeSea 5y ago
Everything is an anti-crypto conspiracy. Embrace the paranoia.
mmargerum 5y ago
Sure read like a hit piece to me. The bigger issue seems to be the IMF loan sharks.
deadalus 5y ago
David Gerard has an anti-crypto agenda and is a regular on r/buttcoin. He has publicly trashed crypto multiple times. [0]https://old.reddit.com/r/Buttcoin/comments/nwblbp/podcast_proof_of_waste_w_david_gerard_when_the/ https://old.reddit.com/r/Buttcoin/comments/nwblbp/podcast_pr... [1]https://www.csmonitor.com/Business/2021/0611/In-El-Salvador-rural-community-offers-glimpse-at-crypto-economy https://www.csmonitor.com/Business/2021/0611/In-El-Salvador-... [2]http://blocktribune.com/david-gerard-can-get-long-way-just-buzzwords-big-claims/ http://blocktribune.com/david-gerard-can-get-long-way-just-b... [3] https://old.reddit.com/r/ethereum/comments/6dkc8w/why_do_we_keep_letting_david_gerard_who_obviously/ https://old.reddit.com/r/ethereum/comments/6dkc8w/why_do_we_...
- NicoJuicy 5y ago
  Or just check https://rekt.news https://rekt.news if you are open to see additional proof of some of the hacks occuring in crypto/defi land.
- JKCalhoun 5y ago
  Agenda? Hit-piece? Are people allowed to have opinions any more, allowed to draw conclusions and take a side? As if Albert Einstein authored anti-quantum hit-pieces, had a classical physics agenda (or choose any other contentious issue in history where people had divided opinions).
  - acdha 5y ago
    It’s pure projection: cryptocurrency holders have to promote their goods for sale constantly because there’s no innate value. This does not constitute an “agenda” to them because recognizing it as such would basically be acknowledging their lack of utility.
  - paulgb 5y ago
    It's a reflex I see a lot when crypto comes up. Instead of refuting any claims of the article (which almost nobody in these comments has attempted to do!), any negative commentary on crypto is dismissed as the self-preservation attempts of doomed globalist elites or bitter people who missed the boat. If only people applied the same media criticism to crypto trade publications, which are awash in conflicts of interest.
    - howdydoo 5y ago
      >Instead of refuting any claims of the article (which almost nobody in these comments has attempted to do!) That's the bullshit asymmetry principle in action. Let's go ahead and fact-check the first claim in the article. >More than 91 percent of Salvadorans want dollars, not bitcoins. Following the source, we see this quote (google-translated from Spanish): >University indicates that, when presenting the option of both currencies, 91.4% of Salvadorans favor the dollar, 4.9% for Bitcoin and 3.7% do not. answered. We also see: >However, when asked about the decision to adopt Bitcoin as a currency, 35% said they were in favor and 40% against. These both make perfect sense. Since my landlord won't accept bitcoin as rent payment, I would rather have dollars than be homeless. But in the future, maybe my landlord will accept bitcoin? If the poll is to be believed, 35% of the country wants that future, 40% do not, and 25% are undecided. I think that's a pretty amazing level of public support, accomplished in only a few months, especially in a country where 70% of people don't even have a bank account. However you feel about it, I don't think a 35%-40% split in the polls is enough to call the president a con artist and declare it a failure one week after the law passes. The author's bias is clear. --- I'll leave the rest of the article as an exercise for the reader, since (1) no one would take the time to read a fact check of the whole article, and (2) I don't have the time to write one. See also: bullshit asymmetry principle.
NicoJuicy 5y ago
While David Gerard has been very critical of El Salvador ( and mostly Bukele), he is giving information/insights about it, that you won't see elsewhere. I wouldn't dismiss it as a hit piece. He's obviously spending a lot of time researching what's happening in El Salvador with the Chivo wallet. As far as i checked/found, all the information he gave, is factually correct. But yes, he is very critical of the usage of Crypto for many use-cases, but that's no reason to dismiss his research. For me personally, i like it as an alternative view of what the crypto/defi proponents are claiming. Eg. Mentioning that it's nuts to mine BTC while they could have used the geothermal energy to lower electricity costs in the country ( since they import 20%), makes more economic sense for it's citizens. If you want additional facts about all the hacks that are happening, you should check out https://rekt.news https://rekt.news . You'll be surpised about the amount of hacks in Defi/Cryto land.
- bobcostas55 5y ago
  Is this the same Gerard who has a bizarre hatred for Scott Alexander and harasses anyone on twitter who talks about him?
  - NicoJuicy 5y ago
    He's pretty open about it that he's opinionated and he mentions it: > (I must note that Alexander and I know each other a bit, and don’t have a high opinion of each other — so read this post with a dash of salt. I won’t use his surname here, ‘cos this post isn’t really about him. Though Alexander is a slight crypto fan.) [LessWrong] https://davidgerard.co.uk/blockchain/2020/07/03/coindesks-new-scammer-identity-protection-rule/ https://davidgerard.co.uk/blockchain/2020/07/03/coindesks-ne...
- jkhdigital 5y ago
  His points, which are valid, would get a much broader audience if he was able to keep his normative judgments out of his reporting.
  - davidgerard 5y ago

ABeeSea 5y ago

Everything is an anti-crypto conspiracy. Embrace the paranoia.

mmargerum 5y ago

Sure read like a hit piece to me. The bigger issue seems to be the IMF loan sharks.

deadalus 5y ago

David Gerard has an anti-crypto agenda and is a regular on r/buttcoin. He has publicly trashed crypto multiple times. [0]https://old.reddit.com/r/Buttcoin/comments/nwblbp/podcast_proof_of_waste_w_david_gerard_when_the/ https://old.reddit.com/r/Buttcoin/comments/nwblbp/podcast_pr... [1]https://www.csmonitor.com/Business/2021/0611/In-El-Salvador-rural-community-offers-glimpse-at-crypto-economy https://www.csmonitor.com/Business/2021/0611/In-El-Salvador-... [2]http://blocktribune.com/david-gerard-can-get-long-way-just-buzzwords-big-claims/ http://blocktribune.com/david-gerard-can-get-long-way-just-b... [3] https://old.reddit.com/r/ethereum/comments/6dkc8w/why_do_we_keep_letting_david_gerard_who_obviously/ https://old.reddit.com/r/ethereum/comments/6dkc8w/why_do_we_...

NicoJuicy 5y ago
Or just check https://rekt.news https://rekt.news if you are open to see additional proof of some of the hacks occuring in crypto/defi land.
JKCalhoun 5y ago
Agenda? Hit-piece? Are people allowed to have opinions any more, allowed to draw conclusions and take a side? As if Albert Einstein authored anti-quantum hit-pieces, had a classical physics agenda (or choose any other contentious issue in history where people had divided opinions).
- acdha 5y ago
  It’s pure projection: cryptocurrency holders have to promote their goods for sale constantly because there’s no innate value. This does not constitute an “agenda” to them because recognizing it as such would basically be acknowledging their lack of utility.
- paulgb 5y ago
  It's a reflex I see a lot when crypto comes up. Instead of refuting any claims of the article (which almost nobody in these comments has attempted to do!), any negative commentary on crypto is dismissed as the self-preservation attempts of doomed globalist elites or bitter people who missed the boat. If only people applied the same media criticism to crypto trade publications, which are awash in conflicts of interest.
  - howdydoo 5y ago
    >Instead of refuting any claims of the article (which almost nobody in these comments has attempted to do!) That's the bullshit asymmetry principle in action. Let's go ahead and fact-check the first claim in the article. >More than 91 percent of Salvadorans want dollars, not bitcoins. Following the source, we see this quote (google-translated from Spanish): >University indicates that, when presenting the option of both currencies, 91.4% of Salvadorans favor the dollar, 4.9% for Bitcoin and 3.7% do not. answered. We also see: >However, when asked about the decision to adopt Bitcoin as a currency, 35% said they were in favor and 40% against. These both make perfect sense. Since my landlord won't accept bitcoin as rent payment, I would rather have dollars than be homeless. But in the future, maybe my landlord will accept bitcoin? If the poll is to be believed, 35% of the country wants that future, 40% do not, and 25% are undecided. I think that's a pretty amazing level of public support, accomplished in only a few months, especially in a country where 70% of people don't even have a bank account. However you feel about it, I don't think a 35%-40% split in the polls is enough to call the president a con artist and declare it a failure one week after the law passes. The author's bias is clear. --- I'll leave the rest of the article as an exercise for the reader, since (1) no one would take the time to read a fact check of the whole article, and (2) I don't have the time to write one. See also: bullshit asymmetry principle.

NicoJuicy 5y ago

While David Gerard has been very critical of El Salvador ( and mostly Bukele), he is giving information/insights about it, that you won't see elsewhere. I wouldn't dismiss it as a hit piece. He's obviously spending a lot of time researching what's happening in El Salvador with the Chivo wallet. As far as i checked/found, all the information he gave, is factually correct. But yes, he is very critical of the usage of Crypto for many use-cases, but that's no reason to dismiss his research. For me personally, i like it as an alternative view of what the crypto/defi proponents are claiming. Eg. Mentioning that it's nuts to mine BTC while they could have used the geothermal energy to lower electricity costs in the country ( since they import 20%), makes more economic sense for it's citizens. If you want additional facts about all the hacks that are happening, you should check out https://rekt.news https://rekt.news . You'll be surpised about the amount of hacks in Defi/Cryto land.

bobcostas55 5y ago
Is this the same Gerard who has a bizarre hatred for Scott Alexander and harasses anyone on twitter who talks about him?
- NicoJuicy 5y ago
  He's pretty open about it that he's opinionated and he mentions it: > (I must note that Alexander and I know each other a bit, and don’t have a high opinion of each other — so read this post with a dash of salt. I won’t use his surname here, ‘cos this post isn’t really about him. Though Alexander is a slight crypto fan.) [LessWrong] https://davidgerard.co.uk/blockchain/2020/07/03/coindesks-new-scammer-identity-protection-rule/ https://davidgerard.co.uk/blockchain/2020/07/03/coindesks-ne...
jkhdigital 5y ago
His points, which are valid, would get a much broader audience if he was able to keep his normative judgments out of his reporting.
- davidgerard 5y ago