> Technology does not solve social or economic problems. Never said that it did. Only that HN'ers suffer from a kind of overconfidence of other aspects of thi

> Technology does not solve social or economic problems. Never said that it did. Only that HN'ers suffer from a kind of overconfidence of other aspects of this world because they are used to being right on technical things. > How are we using Bitcoin? As a ponzi scheme where the earliest of investors win by bringing more people in. The US dollar fits a better definition of a ponzi scheme, its just a different kind of pyramid. The closer you are to the regulatory environment, the more disproportionate your gains. Bitcoin will store value better than the dollar. Doesn't matter if you're "late" or "early". So its not a system that favors those who got in early, its a system that favors everyone who uses it. > How are we using Blockchains (specifically NFTs)? Outright fraud. Lets not discuss nft's or other cryptos. Only bitcoin. > Ponzi schemes and fraud won't solve our social or economic woes. What few good things Bitcoin and the blockchain ever provided has been completely overwhelmed by the crap. Again lets not talk nft's or other cryptos. Only bitcoin. > As a result, governments are going to crack down on these technologies hard. They've already started by taxing these virtual currencies the same way they do stocks. Thank goodness. Regulations and legislature is necessary for this emerging market. We need to work with it, not against it.