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This article comes off very biased. There are a number of major problems blockchain solves - most importantly, ownership and control of things. Saying “crypto

This article comes off very biased. There are a number of major problems blockchain solves - most importantly, ownership and control of things. Saying “crypto is for people who love money” is silly. Cryptocurrency is for people who wish to control their assets. Spending time writing a hit piece on these technologies is silly and I wonder what the actual motive is.

exdsq 5y ago
Easy front-page on HN, easy shares on twitter, easy to regurgitate the same complaints for blog SEO. I can't think of other reasons - they all same the same thing.
nefitty 5y ago
You mean like when ethereum split to reverse a transaction some of the devs didn't agree with? Or how huge Bitcoin mining operations basically decide what chain to work on, with no accountability to anyone who "owns" Bitcoin? Name any other shitcoin and I'll tell you why it's a scam. Blockchain and associated tech solve no real business problems that aren't better solved by other means. Einstein was offered the role of president of Israel but declined because he knew he was not qualified to lead a country. The devs working on crypto may be technical geniuses, Satoshi included, but that has no bearing on whether they have any understanding of economics.
- exdsq 5y ago
  > Or how huge Bitcoin mining operations basically decide what chain to work on, with no accountability to anyone who "owns" Bitcoin? Out of interest do you have an example of the chain following a particular head due to collaborative mining over 51% of the network for this to work?
etchalon 5y ago
Why couldn't the motive be "person had thoughts and wanted to share them"?
WA 5y ago
> most importantly, ownership and control of things. I feel ownership and control of my house and my stuff. To some extend at least. Can the government theoretically seize my assets? Yes. Can the goverment seize my Bitcoins? Well, depends on whether or not I want to leave my social circle. The sense of ownership of Bitcoin is based on your willingness to leave everything behind. And your ability to cross borders into countries that won't send you back. I think, ultimately, crypto only works if your outlook on the world is very pessimistic and you have zero trust in existing structures of society.

exdsq 5y ago

Easy front-page on HN, easy shares on twitter, easy to regurgitate the same complaints for blog SEO. I can't think of other reasons - they all same the same thing.

nefitty 5y ago

You mean like when ethereum split to reverse a transaction some of the devs didn't agree with? Or how huge Bitcoin mining operations basically decide what chain to work on, with no accountability to anyone who "owns" Bitcoin? Name any other shitcoin and I'll tell you why it's a scam. Blockchain and associated tech solve no real business problems that aren't better solved by other means. Einstein was offered the role of president of Israel but declined because he knew he was not qualified to lead a country. The devs working on crypto may be technical geniuses, Satoshi included, but that has no bearing on whether they have any understanding of economics.

exdsq 5y ago
> Or how huge Bitcoin mining operations basically decide what chain to work on, with no accountability to anyone who "owns" Bitcoin? Out of interest do you have an example of the chain following a particular head due to collaborative mining over 51% of the network for this to work?

etchalon 5y ago

Why couldn't the motive be "person had thoughts and wanted to share them"?

WA 5y ago

> most importantly, ownership and control of things. I feel ownership and control of my house and my stuff. To some extend at least. Can the government theoretically seize my assets? Yes. Can the goverment seize my Bitcoins? Well, depends on whether or not I want to leave my social circle. The sense of ownership of Bitcoin is based on your willingness to leave everything behind. And your ability to cross borders into countries that won't send you back. I think, ultimately, crypto only works if your outlook on the world is very pessimistic and you have zero trust in existing structures of society.