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> I tend to believe there are some great ideas embedded in the cryptocurrency world alongside a lot of noise and speculation. Eventually the "signal" and core i

> I tend to believe there are some great ideas embedded in the cryptocurrency world alongside a lot of noise and speculation. Eventually the "signal" and core ideas will rise through, perhaps after a long period of pain. I love how we're almost twenty years into cryptocurrency yet people still produce these vague, literally zero content statements preceded by accusations of bias against anyone who has had enough of this vaporware talk. In the bitcoin whitepaper it started with a "peer to peer cash system replacing banks". Doesn't really seem to work but at least sounded straight forward. Nowadays we're at "eye scanning orb for proof of personhood" and monkey NFTs. It's not even getting better every year, it's getting more stupid

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BbzzbB 5y ago
Two decades? You quasi-doubled the age of cryptocurrency, it's been 13 years since Bitcoin's chain started and (apparently [0]) 11 since the first alt-coin. I don't hold any crypto and am ambivalent about it (seems to have the equal potential of hardening money/tempering inflation as well as providing a backbone to dystopian regimes), so I'm not talking my book, but how much of the Internet's potential was figured out 13 years into it's creation? That barely gets you to TCP/IP going public if you start counting at DARPANET, doesn't even get you to the Dotcom bubble if you start from the former. I'd add, if you're gonna quote Satoshi about peer to peer cash not materializing (arguably disproved by Lightning) to discredit how far it's strayed off it's essence, you could paint a fuller picture and pick one of many quotes highlighting that hard money/digital gold is just as much of a core idea to Bitcoin (from the genesis block message, to inflation, gold and gold mining discussions), which has arguably manifested. 0: https://e-cryptonews.com/what-was-the-first-altcoin/ https://e-cryptonews.com/what-was-the-first-altcoin/
- whymauri 5y ago
  Bitcoin is the first decentralized cryptocurrency, but the concept dates back a while when we consider centralized applications. The bit gold architecture dates back to 98' and is arguably a direct ancestor to the BTC whitepaper, but only existed in theory. In any case, I'm in the 'decentralized cryptocurrency is still relatively early in the grand scheme of things' camp. What's really going to matter, in my opinion, is Gen-Z and younger generation's adoption and iteration on the concept.
  - BbzzbB 5y ago
    Fair point, it is indeed over two decades old if you start from bit gold (and hard for me to argue against with a straight face after using DARPANET as an inception point for the Internet, even if bit gold was only theorised).
d110af5ccf 5y ago
> Doesn't really seem to work What are you talking about? Multiple large businesses in the US accept crypto. You can pay Newegg for a new computer using crypto. You can transfer currency between countries using crypto as the intermediate method of exchange. What about crypto "doesn't really seem to work"?
- mrtranscendence 5y ago
  You write as though there were a wide array of businesses that accept crypto. In reality, only a vanishingly small number do so, and many of those that used to accept crypto do so no longer. Tesla, for example. Bitcoin, at least, is much too volatile to serve as a useful medium of exchange.
- Melting_Harps 5y ago
  > What are you talking about? Multiple large businesses in the US accept crypto. You can pay Newegg for a new computer using crypto. You can transfer currency between countries using crypto as the intermediate method of exchange. What about crypto "doesn't really seem to work"? This is YC, I used to think it was just ignorance when it came to Bitcoin, which it still partly is since this space moves so fast; but the more time I spent in the Valley and met more of these type of typical FAANG footsoldier who fancy thesmeslves the next Musk while they toil away in helping create the surveillance economy it's more pernicious these people were highly rewarded for their subservience. Why would they 'get it' when they only thing they've been successful at is only possible in the fiat system? Seriously, I gave up years ago trying to engage in good faith with them, now I just have utter indifference for them, either way we already won: they just haven't realized it yet and will throw out the typical misinformed rebuttals why it doesn't work: energy use, criminal use, hard to use (this one is kind of true but only because of OPSEC).
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BbzzbB 5y ago

Two decades? You quasi-doubled the age of cryptocurrency, it's been 13 years since Bitcoin's chain started and (apparently [0]) 11 since the first alt-coin. I don't hold any crypto and am ambivalent about it (seems to have the equal potential of hardening money/tempering inflation as well as providing a backbone to dystopian regimes), so I'm not talking my book, but how much of the Internet's potential was figured out 13 years into it's creation? That barely gets you to TCP/IP going public if you start counting at DARPANET, doesn't even get you to the Dotcom bubble if you start from the former. I'd add, if you're gonna quote Satoshi about peer to peer cash not materializing (arguably disproved by Lightning) to discredit how far it's strayed off it's essence, you could paint a fuller picture and pick one of many quotes highlighting that hard money/digital gold is just as much of a core idea to Bitcoin (from the genesis block message, to inflation, gold and gold mining discussions), which has arguably manifested. 0: https://e-cryptonews.com/what-was-the-first-altcoin/ https://e-cryptonews.com/what-was-the-first-altcoin/

whymauri 5y ago
Bitcoin is the first decentralized cryptocurrency, but the concept dates back a while when we consider centralized applications. The bit gold architecture dates back to 98' and is arguably a direct ancestor to the BTC whitepaper, but only existed in theory. In any case, I'm in the 'decentralized cryptocurrency is still relatively early in the grand scheme of things' camp. What's really going to matter, in my opinion, is Gen-Z and younger generation's adoption and iteration on the concept.
- BbzzbB 5y ago
  Fair point, it is indeed over two decades old if you start from bit gold (and hard for me to argue against with a straight face after using DARPANET as an inception point for the Internet, even if bit gold was only theorised).

d110af5ccf 5y ago

> Doesn't really seem to work What are you talking about? Multiple large businesses in the US accept crypto. You can pay Newegg for a new computer using crypto. You can transfer currency between countries using crypto as the intermediate method of exchange. What about crypto "doesn't really seem to work"?

mrtranscendence 5y ago
You write as though there were a wide array of businesses that accept crypto. In reality, only a vanishingly small number do so, and many of those that used to accept crypto do so no longer. Tesla, for example. Bitcoin, at least, is much too volatile to serve as a useful medium of exchange.
Melting_Harps 5y ago
> What are you talking about? Multiple large businesses in the US accept crypto. You can pay Newegg for a new computer using crypto. You can transfer currency between countries using crypto as the intermediate method of exchange. What about crypto "doesn't really seem to work"? This is YC, I used to think it was just ignorance when it came to Bitcoin, which it still partly is since this space moves so fast; but the more time I spent in the Valley and met more of these type of typical FAANG footsoldier who fancy thesmeslves the next Musk while they toil away in helping create the surveillance economy it's more pernicious these people were highly rewarded for their subservience. Why would they 'get it' when they only thing they've been successful at is only possible in the fiat system? Seriously, I gave up years ago trying to engage in good faith with them, now I just have utter indifference for them, either way we already won: they just haven't realized it yet and will throw out the typical misinformed rebuttals why it doesn't work: energy use, criminal use, hard to use (this one is kind of true but only because of OPSEC).
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