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Be careful what you wish for. While I agree the current cryptocurrency is a mess, but prohibiting a pure computation cause more harms than good.

by ezoe 5y ago

GreenWatermelon 5y ago
The computations are ok, but exchange with, well, non-crypto currency could be prohibited. Crypto would lose its worth of you can't convert it to dollars in a feasible way. Much of the market is driven by speculative investment and get-rich-quick type of schemes. Of course, criminal organizations could still use it, but I believe it would be harder to launder money using crypto if banks no longer supported it.
- jeroenhd 5y ago
  I think a ban on buying and selling crypto might just be good for the cryptocoin ecosystem. The whole idea of cryptocurrency idealists is that it replaces cash transactions, so if there is any value in the system besides pure speculation, the crypto coins should still work as advertised. Services can still accept the coin and goods can be sold for the coin, but you can't launder money through crypto networks anymore. It's crazy how banks are willing to scrutinise anything related to sex work to an extreme extent yet seem perfectly willing to support the latest weekly pump and dump by letting people exchange money for cryptocurrency at random exchanges.
paulmd 5y ago
That ship has sailed. FP64 is artificially limited on AMD 290X graphics cards, as is workstation performance in enterprise software, and neither of those ideas was new at the time. That ship sailed decades ago, in fact. And in none of these cases, by the way, is computation prohibited. LHR cards are still capable of mining. A 290X can still run Solidworks. The choice of "prohibited" here is deliberately inflammatory - a word like "slowed" or "reduced" is more appropriate. (But it is true there are cases like ECC on AMD APUs where it actually is fully prohibited.)

Be careful what you wish for. While I agree the current cryptocurrency is a mess, but prohibiting a pure computation cause more harms than good.

by ezoe 5y ago

Be careful what you wish for. While I agree the current cryptocurrency is a mess, but prohibiting a pure computation cause more harms than good.

GreenWatermelon 5y ago

The computations are ok, but exchange with, well, non-crypto currency could be prohibited. Crypto would lose its worth of you can't convert it to dollars in a feasible way. Much of the market is driven by speculative investment and get-rich-quick type of schemes. Of course, criminal organizations could still use it, but I believe it would be harder to launder money using crypto if banks no longer supported it.

jeroenhd 5y ago
I think a ban on buying and selling crypto might just be good for the cryptocoin ecosystem. The whole idea of cryptocurrency idealists is that it replaces cash transactions, so if there is any value in the system besides pure speculation, the crypto coins should still work as advertised. Services can still accept the coin and goods can be sold for the coin, but you can't launder money through crypto networks anymore. It's crazy how banks are willing to scrutinise anything related to sex work to an extreme extent yet seem perfectly willing to support the latest weekly pump and dump by letting people exchange money for cryptocurrency at random exchanges.

paulmd 5y ago

That ship has sailed. FP64 is artificially limited on AMD 290X graphics cards, as is workstation performance in enterprise software, and neither of those ideas was new at the time. That ship sailed decades ago, in fact. And in none of these cases, by the way, is computation prohibited. LHR cards are still capable of mining. A 290X can still run Solidworks. The choice of "prohibited" here is deliberately inflammatory - a word like "slowed" or "reduced" is more appropriate. (But it is true there are cases like ECC on AMD APUs where it actually is fully prohibited.)