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Author here. I broadly agree with you. I run my own power generation. They're solar panels on my roof and require zero maintenance. People don't want to run ge
by edent 5y ago
Author here. I broadly agree with you. I run my own power generation. They're solar panels on my roof and require zero maintenance.
People don't want to run generators. They want stable electricity. There are a variety of ways we can give it to them.
Similarly, people in a hyper-inflation environment don't want crypto - they want stability.
But there's nothing inherent in crypto which prevents hyperinflation. Yes, I've read the original bitcoin paper. That talks about monetary supply - it doesn't do anything if a cartel decides to raise prices.
- magicjosh 5y agoThis article seems like it could have been written in 2009 at the launch of Bitcoin. It has no real world examples or data. There are so many disaster stories. Is there a reason you chose to write such a high level article now? One of the things that made Moxie's piece a hit was it had real examples of his experiences trying to do things. But this article has none of these examples or experience. For example, your article misses people who are indeed using cryotocurrencies as banks [1]. It misses the current conversation around social management of keys. The rise of automated exchanges like Uniswap. Lots of room for critiques on these items. That the only examples of people using crypto for real banking are in collapsing currencies. That if there's such a problem managing keys that social management will still fail. But you seem to have missed all of them which really undercuts your article to me. Again, this seems like it could have been written in 2010 based on the concept of crypto rather than real world experience. Just curious about your motivations for such a piece. It certainly has attracted commenting here. Disclosure: I own crypto [1] Reporting of LocalBitcoin use in Venezuela. Certainly room to use these examples of why cryptocurrencies will never scale, but not mentioned in the article: https://www.reddit.com/r/Bitcoin/comments/s5i64l/24_btc_were_traded_in_venezuela_last_week_only/ https://www.reddit.com/r/Bitcoin/comments/s5i64l/24_btc_were...
- edent 5y agoI am currently studying for an MSc which has a semester on Blockchain. You can see my current thoughts at https://shkspr.mobi/blog/tag/certified-blockchain-professional/ https://shkspr.mobi/blog/tag/certified-blockchain-profession...
- magicjosh 5y agoNice! Sounds like the course and book aren't delivering what you want. Agree with your points about the summaries and mining doge. Bizarre. I found your reflections in these posts much more engaging than the main post for this thread. Highly recommend the MIT video course on blockchains: https://youtube.com/playlist?list=PLUl4u3cNGP63UUkfL0onkxF6MYgVa04Fn https://youtube.com/playlist?list=PLUl4u3cNGP63UUkfL0onkxF6M... And for a deep dive into any specific project, it there's an episode of the Zero Knowledge podcast about a project it's worth listening to.
- edent 5y agoThanks, I'll check it out. Have a lovely weekend.