4 ms·

Crypto Skepticism in 2022

11 points by rbiscuit 5y ago

garbagecoder 5y ago
At what point does “balance” become sort of inverse FUD? Like, spend a lot of time getting down into the weeds to keep interest, when, to me, the fundamental issues that you can actually fit in a tweet still need answering. By way of example, it’s like hemming and hawing over vaccines. We can write all about the bad side effect cases, and the details of myocarditis, and the profit motives of Pfizer, and the heavy handedness of mandates… but at the end of the day, the vaccine is safer than driving to get it.
- rbiscuit 5y ago
  yep, well-taken point - what are the fundamental issues you think are interesting to cover in a tweet thread instead? The balance isn't meant to be inverse FUD but I can see how it can be - I agree on the potential for over analysis to become decision paralysis. The post is more meant to highlight gaps in a more comprehensive way, and for people to understand the issues (e.g. you can still be decisively bullish on crypto, and choose one of the adoption gaps to work on such as non-custodial wallets with social recovery.) I think the vaccine is a much more binary situation (either you get the shot or don't, consequences are XYZ for getting and not getting it, not many other choices for the average person), whereas in this scenario the complexity I think warrants some discussion albeit maybe long-winded (you can invest in infinite types of crypto progress even if you decided you're definitely into crypto).
  - garbagecoder 5y ago
    Yeah, it was just the first analogy that came to mind. In securities world, there are two big laws, one for the securities themselves and one for the exchanges. Good exchanges make the security less risky, more fungible, and therefore worth more. So, I think there’s more to the “is coinbase web 2 or 3” tweet that hasn’t been resolved yet. But I think the threshold issue is about inflation. Bitcoin is designed to not inflate. To me, this is an uncorrectable bug, but to the creators, it’s a feature. I don’t see how I can ever get past that. hyperinflation is bad, but no inflation ever is something people who have never lived with or who are very rich seem to think is good. It’s bad for debtors (I.e. almost everyone), bad for growing the economy, and I could go on. I know other coins have different designs, but for now at least bitcoin is dominant.

11 points by rbiscuit 5y ago

At what point does “balance” become sort of inverse FUD? Like, spend a lot of time getting down into the weeds to keep interest, when, to me, the fundamental issues that you can actually fit in a tweet still need answering. By way of example, it’s like hemming and hawing over vaccines. We can write all about the bad side effect cases, and the details of myocarditis, and the profit motives of Pfizer, and the heavy handedness of mandates… but at the end of the day, the vaccine is safer than driving to get it.

rbiscuit 5y ago
yep, well-taken point - what are the fundamental issues you think are interesting to cover in a tweet thread instead? The balance isn't meant to be inverse FUD but I can see how it can be - I agree on the potential for over analysis to become decision paralysis. The post is more meant to highlight gaps in a more comprehensive way, and for people to understand the issues (e.g. you can still be decisively bullish on crypto, and choose one of the adoption gaps to work on such as non-custodial wallets with social recovery.) I think the vaccine is a much more binary situation (either you get the shot or don't, consequences are XYZ for getting and not getting it, not many other choices for the average person), whereas in this scenario the complexity I think warrants some discussion albeit maybe long-winded (you can invest in infinite types of crypto progress even if you decided you're definitely into crypto).
- garbagecoder 5y ago
  Yeah, it was just the first analogy that came to mind. In securities world, there are two big laws, one for the securities themselves and one for the exchanges. Good exchanges make the security less risky, more fungible, and therefore worth more. So, I think there’s more to the “is coinbase web 2 or 3” tweet that hasn’t been resolved yet. But I think the threshold issue is about inflation. Bitcoin is designed to not inflate. To me, this is an uncorrectable bug, but to the creators, it’s a feature. I don’t see how I can ever get past that. hyperinflation is bad, but no inflation ever is something people who have never lived with or who are very rich seem to think is good. It’s bad for debtors (I.e. almost everyone), bad for growing the economy, and I could go on. I know other coins have different designs, but for now at least bitcoin is dominant.