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I love crypto conversations on HN between the pro and the anti crypto crowd. It's rare to see two groups of people deliberately misunderstanding each other so

I love crypto conversations on HN between the pro and the anti crypto crowd. It's rare to see two groups of people deliberately misunderstanding each other so fiercely.

rvz 4y ago
The problem here is due to both extremes having some form of agenda. Many of the pro-crypto crowd have their investments tied in and believe that it will takeover the current system and some of the anti-crypto crowd are at companies that directly compete against cryptocurrencies [0] and hide and obscure that fact in the discussion and will only 'debate' with people who either agree with them or with those who are new to it all and believe that all cryptocurrencies will be wiped out 100% guaranteed. The first clue is that both of them are incorrect. > It's rare to see two groups of people deliberately misunderstanding each other so fiercely. It really is and the letter does seem to show that, and both extreme camps are going to be very disappointed. A good example is that NY bill [1] about banning 'certain' proof-of-work (PoW) mining. Not only cryptocurrencies using proof-of-stake or other consensus methods are not affected, this ban is not an absolute ban and it can still be done via renewable methods. It only bans PoW using carbon methods. That is what the extreme crypto-skeptics won't tell you and maybe that is why they learned from this failed petition [2] in the UK and now the deadline to sign their new letter is much shorter. So you see both extreme camps will be disappointed with achieving their very utopian goals at banning everything or destroying the current system with a new reserve currency. [0] https://news.ycombinator.com/item?id=31616385 https://news.ycombinator.com/item?id=31616385 [1] https://www.nysenate.gov/legislation/bills/2021/A7389 https://www.nysenate.gov/legislation/bills/2021/A7389 [2] https://petition.parliament.uk/petitions/601629 https://petition.parliament.uk/petitions/601629

I love crypto conversations on HN between the pro and the anti crypto crowd. It's rare to see two groups of people deliberately misunderstanding each other so fiercely.

rvz 4y ago

The problem here is due to both extremes having some form of agenda. Many of the pro-crypto crowd have their investments tied in and believe that it will takeover the current system and some of the anti-crypto crowd are at companies that directly compete against cryptocurrencies [0] and hide and obscure that fact in the discussion and will only 'debate' with people who either agree with them or with those who are new to it all and believe that all cryptocurrencies will be wiped out 100% guaranteed. The first clue is that both of them are incorrect. > It's rare to see two groups of people deliberately misunderstanding each other so fiercely. It really is and the letter does seem to show that, and both extreme camps are going to be very disappointed. A good example is that NY bill [1] about banning 'certain' proof-of-work (PoW) mining. Not only cryptocurrencies using proof-of-stake or other consensus methods are not affected, this ban is not an absolute ban and it can still be done via renewable methods. It only bans PoW using carbon methods. That is what the extreme crypto-skeptics won't tell you and maybe that is why they learned from this failed petition [2] in the UK and now the deadline to sign their new letter is much shorter. So you see both extreme camps will be disappointed with achieving their very utopian goals at banning everything or destroying the current system with a new reserve currency. [0] https://news.ycombinator.com/item?id=31616385 https://news.ycombinator.com/item?id=31616385 [1] https://www.nysenate.gov/legislation/bills/2021/A7389 https://www.nysenate.gov/legislation/bills/2021/A7389 [2] https://petition.parliament.uk/petitions/601629 https://petition.parliament.uk/petitions/601629