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We don't need "crypto," we need _Bitcoin_. Crypto is the scam he references here. It's clear that DHH has a very thin understanding of Bitcoin and is conflating

We don't need "crypto," we need _Bitcoin_. Crypto is the scam he references here. It's clear that DHH has a very thin understanding of Bitcoin and is conflating arguments about the web3/crypto/defi/nft nonsense with it. _That_ is the psyop. If people think Bitcoin and all of the other junk (sh*tcoins) are the same thing, you're just walking into the same trap as what precipitated the nightmare in Canada. The thing to watch for is the push for CBDCs which are state-controlled cryptocurrencies which will give authoritarians perpetual hard-on levels of control. You think freezing a bank account is bad? Wait until they can make your money expire or prevent you from transacting with anyone they deem "bad actors." Recommended: https://www.amazon.com/Bitcoin-Standard-Decentralized-Alternative-Central/dp/1119473861 https://www.amazon.com/Bitcoin-Standard-Decentralized-Altern...

rosndo 5y ago
> We don't need "crypto," we need _Bitcoin_. But Monero is objectively better than Bitcoin if you just want to pay for things.
- rglover 5y ago
  Perhaps, but it lacks the brand recognition. Playing the technology dick measuring contest will end up confusing people and lead them right into a trap (meaning, they end up distrusting the very thing that can save them). Bitcoin has all of the necessary pieces to get the immediate problem of government overreach and currency manipulation fixed.
- anonporridge 5y ago
  Arguable, because monero's hash power is a negligible fraction of bitcoin's AND it's ASIC resitant, so mining on CPUs is still viable. This makes it much more vulnerable to nation state 51% attack since they can just temporarily redirect fleets of CPUs (maybe even deputize AWS, Azure, GCP, etc) to attack the network. This kind of rapid response attack isn't feasible on bitcoin because SHA256 ASIC miners are incredibly hard to come by and the electricity required to pull it off would be enormously expensive.

rosndo 5y ago

> We don't need "crypto," we need _Bitcoin_. But Monero is objectively better than Bitcoin if you just want to pay for things.

rglover 5y ago
Perhaps, but it lacks the brand recognition. Playing the technology dick measuring contest will end up confusing people and lead them right into a trap (meaning, they end up distrusting the very thing that can save them). Bitcoin has all of the necessary pieces to get the immediate problem of government overreach and currency manipulation fixed.
anonporridge 5y ago
Arguable, because monero's hash power is a negligible fraction of bitcoin's AND it's ASIC resitant, so mining on CPUs is still viable. This makes it much more vulnerable to nation state 51% attack since they can just temporarily redirect fleets of CPUs (maybe even deputize AWS, Azure, GCP, etc) to attack the network. This kind of rapid response attack isn't feasible on bitcoin because SHA256 ASIC miners are incredibly hard to come by and the electricity required to pull it off would be enormously expensive.