5 ms·

There are many new systems that are superior to Ethereum (e.g Polkadot, Terra LUNA) that already satisfy your requirement.

OtomotO 5y ago
That may well be, I am not that interested in crypto. I found the idea of a non governmental controlled currency with an upper bounded amount interesting, as inflation can't be a thing. But as a means to satisfy greed... Nope, I am happy with what I have. So there are other spaces in science and computer science I am more invested and interested in.
- Filligree 5y ago
  > I found the idea of a non governmental controlled currency with an upper bounded amount interesting, as inflation can't be a thing. As I'm sure you would realise if you give the textbooks a chance, deflation is much worse than inflation. Nor is bitcoin truly inflation-less; the prices swing like a yo-yo, it's simply deflationary on average thus far.
- Centmo 5y ago
  How about as a means to provide financial security to the world's 1.7 billion unbanked, a means for those who live under oppressive rule to preserve wealth in the face of rampant currency debasement, in a form that cannot be confiscated or stolen. Money-printing drives inflation which is is a regressive tax that disproportionally hurts the poor, who don't own real estate or stocks. It accelerates the wealth gap, which further strains our society. Bitcoin is a means to expand financial inclusion, and help level the playing field just a bit. It's not just about greed. Regarding energy use, Bitcoin mining inherently seeks out the lowest cost electricity which turns out to be either stranded energy (not usable for anything else) or renewable (solar, wind, hydro). This is yet another reason to push governments to stop subsidizing fossil fuels. Also, since Bitcoin mining can be done at any time and in any place, it is able to act as the buyer of last resort for renewable projects whose energy production does not line up with grid demand. Having this extra buyer can greatly reduce the payback period for a proposed solar/wind project that otherwise would not have been able to attract the investment to build it.
  - muglug 5y ago
    > How about as a means to provide financial security to the world's 1.7 billion unbanked Let them eat crypto
  - OtomotO 5y ago
    How is me investing in crypto changing the lot of 1.7 billion people? I may be the chosen one, but am I that important? To phrase it differently: all you said may (sic!) be true, doesn't change my personal interest though.
    - Centmo 5y ago
      You could think of where you store your wealth as a vote for the system which best represents your values, and for the system you would like to see proliferated. Your inclusion adds value to the network, which strengthens its security and helps push it up the adoption s-curve. The more users there are, the more services appear, and the more accessible and useful it becomes. I was never that interested in monetary policy or the history of money until I found out about Bitcoin and started doing my own research.
      - OtomotO 5y ago
        My house on the countryside and self sustaining lifestyle (obviously not totally hermitic, but way more than the average person) votes for the system very loudly I'd say. I am very interested in the history of money, but it made me a Marxist, or rather a Trotskyist ;)
  - polio 5y ago
    If Bitcoin can be spent, its owners can be coerced to spend it, so it can be stolen. Regarding excess energy, I'd rather have energy storage firms be that buyer. Cryptocurrencies may have a part to play in the future of humanity, but Bitcoin will not be it. It's a proof of concept that's overstayed its welcome.
    - Centmo 5y ago
- UncleMeat 5y ago
  Inflation is not just caused by printing money. You can still experience inflation (rising prices of a basket of goods) without any change in the amount of available currency.

OtomotO 5y ago

That may well be, I am not that interested in crypto. I found the idea of a non governmental controlled currency with an upper bounded amount interesting, as inflation can't be a thing. But as a means to satisfy greed... Nope, I am happy with what I have. So there are other spaces in science and computer science I am more invested and interested in.

Filligree 5y ago
> I found the idea of a non governmental controlled currency with an upper bounded amount interesting, as inflation can't be a thing. As I'm sure you would realise if you give the textbooks a chance, deflation is much worse than inflation. Nor is bitcoin truly inflation-less; the prices swing like a yo-yo, it's simply deflationary on average thus far.
Centmo 5y ago
How about as a means to provide financial security to the world's 1.7 billion unbanked, a means for those who live under oppressive rule to preserve wealth in the face of rampant currency debasement, in a form that cannot be confiscated or stolen. Money-printing drives inflation which is is a regressive tax that disproportionally hurts the poor, who don't own real estate or stocks. It accelerates the wealth gap, which further strains our society. Bitcoin is a means to expand financial inclusion, and help level the playing field just a bit. It's not just about greed. Regarding energy use, Bitcoin mining inherently seeks out the lowest cost electricity which turns out to be either stranded energy (not usable for anything else) or renewable (solar, wind, hydro). This is yet another reason to push governments to stop subsidizing fossil fuels. Also, since Bitcoin mining can be done at any time and in any place, it is able to act as the buyer of last resort for renewable projects whose energy production does not line up with grid demand. Having this extra buyer can greatly reduce the payback period for a proposed solar/wind project that otherwise would not have been able to attract the investment to build it.
- muglug 5y ago
  > How about as a means to provide financial security to the world's 1.7 billion unbanked Let them eat crypto
- OtomotO 5y ago
  How is me investing in crypto changing the lot of 1.7 billion people? I may be the chosen one, but am I that important? To phrase it differently: all you said may (sic!) be true, doesn't change my personal interest though.
  - Centmo 5y ago
    You could think of where you store your wealth as a vote for the system which best represents your values, and for the system you would like to see proliferated. Your inclusion adds value to the network, which strengthens its security and helps push it up the adoption s-curve. The more users there are, the more services appear, and the more accessible and useful it becomes. I was never that interested in monetary policy or the history of money until I found out about Bitcoin and started doing my own research.
    - OtomotO 5y ago
      My house on the countryside and self sustaining lifestyle (obviously not totally hermitic, but way more than the average person) votes for the system very loudly I'd say. I am very interested in the history of money, but it made me a Marxist, or rather a Trotskyist ;)
- polio 5y ago
  If Bitcoin can be spent, its owners can be coerced to spend it, so it can be stolen. Regarding excess energy, I'd rather have energy storage firms be that buyer. Cryptocurrencies may have a part to play in the future of humanity, but Bitcoin will not be it. It's a proof of concept that's overstayed its welcome.
  - Centmo 5y ago
UncleMeat 5y ago
Inflation is not just caused by printing money. You can still experience inflation (rising prices of a basket of goods) without any change in the amount of available currency.