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I’m still waiting for crypto to revolutionize the world. So far, it’s been nothing but pollution, speculation, theft, and crime.
by ppeetteerr 4y ago
I’m still waiting for crypto to revolutionize the world. So far, it’s been nothing but pollution, speculation, theft, and crime.
- anm89 4y agoCrypto on the other hand, isn't waiting on very much from you.
- jdoliner 4y agoMillions of people in third world countries have escaped hyperinflation by storing their wealth in bitcoin. The revolution has already happened. You see it as crime though, because revolutions are always criminal while they're happening.
- ShamelessC 4y agoMillions!? Citation needed.
- croes 4y agoSource?
- mantenpanther 4y ago"Nothing" is not true. Many in failed states are using it.
- markdown 4y ago
- vosper 4y agoI vouched for your comment, because GP's claim that "many in failing states are using it" has just as little evidence behind it as your claim that "the rich %1 in failing states are using it".
- markdown 4y agoThank you. IMO it's self-evident that only the rich in these "failing states" have access to both the tech and the education required to understand crypto enough to use it.
- mantenpanther 4y agoFTFY is not truth.
- tinalumfoil 4y ago> Two days after the invasion began, the Ukrainian government posted addresses to its bitcoin, ethereum and tether wallets on social media. The Ministry of Digital Transformation of Ukraine now accepts donations in 14 cryptocurrencies. “Crypto really helped during the first few days because we were able to cover some immediate needs,” says Alex Bornyakov, one of Ukraine’s deputy ministers for digital transformation. The government has raised the equivalent of $100m so far. Non-government organisations are raising funds too. Come Back Alive, a Ukrainian NGO that since 2014 has collected money for military equipment and training, relies on crypto after it was kicked off Patreon, a fund-raising platform that accepts donations in fiat currency but does not allow them to be spent on military apparatus. UkraineDAO, a crypto collective, auctioned a non-fungible token (NFT) of a Ukrainian flag for $6.5m-worth of Ethereum. It is the tenth most expensive NFT ever sold according to Elliptic, an analytics firm. The proceeds will be spent on humanitarian aid. https://www.economist.com/the-economist-explains/2022/04/05/how-is-ukraine-using-crypto-to-fund-the-war https://www.economist.com/the-economist-explains/2022/04/05/...
- iancmceachern 4y agoThank you for posting this. I've been searching for an example of a net positive use of crypto, this is it. Thank you
- munk-a 4y agoIf you'd prefer to donate using conventional currencies that is still quite available. I'm not sure if it really counts as a big positive when governments just incur additional overhead trying to process strange currencies instead of letting banks handle the exchange and just ending up with useful and liquid local currency. And countries at war often use auctions of memorabilia or other objects to raise funds - selling an NFT is just a shift in medium.
- itsoktocry 4y ago>I've been searching for an example of a net positive use of crypto, this is it. A corrupt[0] government collecting money through opaque organizations to use for military purposes and "humanitarian aid" is the best we've got? [0] https://tradingeconomics.com/country-list/corruption-index https://tradingeconomics.com/country-list/corruption-index
- dilyevsky 4y agoAll that burned electricity so that oligarchs can safely drain some third world country’s economy that really warms my heart
- toolz 4y agoI know many poor country citizens who have had their families lifted into middle class even by american standards because companies were able to pay them in bitcoin whereas USD wasn't possible. You aren't alone, though. There are many in their first-world bubble that don't see the benefits of crypto because their fiat fulfills all their needs. The same way you've never gone hungry, that doesn't mean food scarcity doesn't exist.
- dilyevsky 4y agoIf someone robs a bank and $100 falls out while they get away that you later find, that makes robbing banks noble by your logic?
- toolz 4y agoI'm struggling to understand your connection at all. There's a difference between legality and ethics. Something can be illegal and it would be immoral for someone to obey that law. Similarly something can be illegal and it wouldn't be immoral for someone to ignore that law.
- dilyevsky 4y agoThe point is just bc someone happened to benefit from it doesn’t make it good overall. Im sure some people must make money off various mlm schemes
- toolz 4y agoand who exactly is harmed when two people engage in free trade with resources they own? In your example the bank robber does not own the money, it was stolen and the robber has no claim, only possession.
- Consultant32452 4y ago
- birdyrooster 4y agoDeflationary currencies are Ponzi scams because anyone with a brain knows that it will never function as a currency with that property and all that is left is a speculative bubble. Blame Michael Saylor and other crypto evangelists for preaching that it is property like gold that you hold onto forever and borrow against for access to currencies. He wants property that he can create derivatives with to leverage in finance.
- vlovich123 4y ago> Deflationary currencies are Ponzi scams because anyone with a brain knows that it will never function as a currency with that property and all that is left is a speculative bubble The gold standard was the basis for the international monetary system from the 1870s to 1971 with some brief interruptions. Before that, other commodities were used as the underpinnings of the monetary system for as long as humanity has utilized currency. These are all deflationary currencies. In fact, inflationary currencies are a relatively recent invention. The one notable feature it has is that depressions don't seem to exist (instead being converted to bad recessions). That being said, it has only 50 years of history behind it so who knows how stable it is in the longer term. I'm a huge crypto skeptic because the cost/benefit isn't there for the amount of pollution it creates and the amount of crime it enables, not because it's a deflationary currency.
- shkkmo 4y ago> The gold standard was the basis for the international monetary system from the 1870s to 1971 with some brief interruptions. Before that, other commodities were used as the underpinnings of the monetary system for as long as humanity has utilized currency. These are all deflationary currencies. In what world is gold deflationary? The supply of available gold generally increases. The difference is that the expansion of the supply of gold is less flexible and harder to control. Gold is also vunerable to supply shocks. For those weak on history, I suggest learning about the effects on global currencies due to the european pillaging of the Americas for precious metals. Also, nothing prevents cryptocurrencies from having a mint rate that makes them inflationary. You don't really see that much because all "currency-like" projects with cryptocurrencies are still fundementally about inflating a speculative bubble to get early adopters rich.
- Mo3 4y agoI highly recommend this research article to understand the philosophy of cryptocurrency better, and why it is not a solution to anything, but offers great insight into the actual nature of the problem. https://journals.sagepub.com/doi/full/10.1177/02632764211049826 https://journals.sagepub.com/doi/full/10.1177/02632764211049...
- puranjay 4y agoI understand and appreciate the philosophy behind crypto. Self-ownership and privacy are core values to me. But I've spent two years in this space and I've come out thoroughly disillusioned. The vast majority don't even care about privacy or ownership or decentralization - they just want to know "wen pump?"
- Mo3 4y agoMy comment was not in defense of cryptocurrency, in fact I am in a similar situation as you, spent 2 years in the space and have given up completely. DeFi is a disgrace. The shit happening there would be unfathomable in regular markets. However I still recommend this article because it’s not necessarily on the topic of self-ownership and privacy (privacy running counter to the concept of cryptocurrency itself anyway)
- iskander 4y agoI'm really curious about DeFi being your focus, it has seemed to be that pretty much everything other than core DeFi protocols are weird casinos but things like Aave and Curve are niche but highly functional infrastructure. Can you say more about your impressions?
- Mo3 4y agoNot very much, as I work in a high position in traditional finance now and would rather not go into detail, but your perspective seems to match mine very closely. It's not even casinos, that'd be 100x better still. I've seen extreme cases of market manipulation, money laundering, insider trading and fraud. As in, life-long federal prison extreme. And, to be honest, "I've seen" is a major understatement, because essentially it has become a reasonable, generalised expectation to apply to anything you see now. A notable example here are the "pre-sale investment groups", which essentially consists of morally corrupt criminals buying tokens pre-release e.g. for 2 cents, which will then be listed on major exchanges for 50 cents initial price. You can probably imagine what happens to everyone buying the token for 50 cents on release. This has gone so far that these "investment" groups had to come up with "vesting schedules", which are essentially designed to keep them from dumping on *each other*, in addition to keeping them from selling too much too fast and dumping the price and "painting bad charts". This is also not a niche venture that only happens with a few select tokens, it's become a completely normal procedure that happens with almost every single new token, and insanely enough even the people further down the food chain have accepted this procedure as a reasonable fact and don't even question it any more. "Of course bro, whales provide liquidity" I totally agree that protocols like Aave, Curve and some others are extremely cool and useful technology, however, I've come to the preliminary conclusion that the degenerate disgrace that makes up 99% of the space now is permanently and irreversibly damaging reputation to a point where this technology might be ignored despite being useful and solid.
- thepasswordis 4y agoNothing but, huh? Interesting.
- hanniabu 4y ago
- arcticbull 4y agoNo, not like that. That's the one that supports and facilitates global commerce. It can be hard to tell the difference once you've had all that kool-aid.
- deleted 4y ago[deleted]
- qgin 4y agoPeople buy crypto in hopes of getting rich. The "revolution" story is what people tell themselves to morally justify getting rich off the money of later buyers.
- ckastner 4y ago> People buy crypto in hopes of getting rich. That is the key. People will believe anything if it helps them believe they'll get rich quick, whether it's that crypto is revolutionary, or that tulip prices can only go up.
- Scoundreller 4y agoI’d say that’s why they hold crypto. Many more buy and don’t hold very long at all, to buy things where the seller may also not hold very long at all.
- robocat 4y agoA few people do get rich with crypto (without even cheating). The startup ecosystem is very similar: the large majority of founders and many employees[1] don’t win. A few win very nicely thank you very much. [1] eg https://news.ycombinator.com/item?id=31595393 https://news.ycombinator.com/item?id=31595393
- markus_zhang 4y agoBlockchain imho is useful and crypto as its application is basically a dream or scam.
- petesergeant 4y agobut what’s it useful _for_?
- Shosty123 4y agoTwo things I enjoy about crypto: 1) I can send large payments effortlessly. I tried to move large sums using eTransfers last year and the friction is just unreal. I don't give a shit about my bank's arbitrary monthly limits 2) Fuck inflation. The fact that I can't park my money without it losing its value over time is asinine. I shouldn't have to be forced to play the market or spend if I don't want to. Just let people save their damn money.
- colinmhayes 4y ago> The fact that I can't park my money without it losing its value over time is asinine Forcing people to invest or spend their money is the entire point of inflation. For good reason too, decreasing velocity of money is a major cause of recessions, and tightening of liquidity in the money market always leads to high unemployment.
- lostcolony 4y ago1) You can oftentimes contact your bank to get them shifted. 2) Is losing 80% of your savings' value in a few days better?
- dragonwriter 4y ago> shouldn't have to be forced to play the market or spend if I don't want to. Just let people save their damn money. You are always playing the market, and certainly are doing so when you park your wealth in whatever your cryptocurrency of choice is. Having currency being optimized for use a liquid medium of exchange while other assets are better as a long term store of wealth is much better than having a currency that tries to compromise between competing purposes and ends up doing neither well.
- aeturnum 4y agoI think blockchain is an interesting technology that does have some unique qualities. It's cool that you can setup a system where the people running it don't have admin powers. I also think that relatively few real-world problems are made easier by blockchain's strengths - and many of them are situations where you're seeking to avoid some kind of censorship. I think avoiding censorship is important and I'm glad we have a technology that is useful there - but by volume most human interactions do not have to worry about censorship. An under-rated problem of blockchains, imo, is how the system shifts incentives for the stakeholders: if code really is law every system is one mistake away from giving away its entire value, if code isn't really law then we're just back to systems of social consensus and there's no need for all this blockchain nonsense. Very, very few people have the technical skill to implement a useful system which is fully automated. I'm extremely skeptical that we've been missing something that is going to make that dramatically easier in the future - and without several orders of magnitude decrease in programmer error smart contracts seem like a bad bet.
- coward123 4y ago>I think blockchain is an interesting technology that does have some unique qualities. The way I phrase it is, blockchain offers an interesting/useful requirements document, with a poor implementation.
- DantesKite 4y ago> I also think that relatively few real-world problems are made easier by blockchain's strengths - and many of them are situations where you're seeking to avoid some kind of censorship. I think avoiding censorship is important and I'm glad we have a technology that is useful there - but by volume most human interactions do not have to worry about censorship. What's funny about that is China is adopting blockchain technologies specifically to bind together databases for tracking social credit scores across different provinces because they've previously been silo'ed and unable to communicate with each other in a straightforward way (for whatever reason). China is banking on blockchain technologies precisely because it's can be such a powerful censorship tool. https://decrypt.co/39905/blockchain-now-powers-parts-of-chinas-social-credit-system https://decrypt.co/39905/blockchain-now-powers-parts-of-chin...
- mathgenius 4y agoYou could say the same thing about tradfi. Seriously, both the finance industry and politics needs to return to a time when it was boring a.f., just ordinary people getting on with their day-to-day jobs. The artists are the ones that should be entertaining us, not the NASDAQ, and not the latest political (bowel) movement.
- smcl 4y agoI’m not sure what to say. Some of us have been saying this at every single NFT release, every influencer-backed shitcoin release, before every rugpull. They all predictably collapse, the community swoons in astonishment and immediately move on. There’s maybe a utility in crypto, but every one of these dumb scams erodes trust in it and lessens the likelihood of widespread adoption
- woodruffw 4y agoI think the GP meant "still waiting" in the sense that they don't believe it will ever happen, not in the sense that they're optimistic.
- stusmall 4y agoThere is but it isn't pretty and the utility was found years ago. It is amazing for online black markets and monetizing organization's weak security through ransomware. Cryptocurrencies are extremely well made for moving value online without limit opportunities for government intervention. People have been trying to jam that square peg in endless number of more socially acceptable round holes and, unsurprisingly, it doesn't work out well.
- RC_ITR 4y agoIt reminds me of white elephants: > It was a blessing because the animal was sacred and a sign of the monarch's favour, and a curse because the recipient now had an expensive-to-maintain animal he could not give away and could not put to much practical use. Crypto is a blessing because it allows people to move value freely, but a curse in that it forces us to really come to terms with the fact that selective oppression (i.e. you can't use a credit card to pay for a hitman) actually helps us live higher quality lives.
- syspec 4y agoI feel that part of that is attributable to the idea that, people know very well that it is a scam, but they're hoping that they can get in on the next iteration early enough to be the ones pulling the rug.
- 4y ago
- Hashemm 4y agoI'd do more research before making generalizations. Helium, Livepeer, Arweave, The Graph, LinksDAO, and many, many, many more examples counter your cluelessness. But apparently, it's "nothing but pollution, speculation, theft, and crime" that's an ignorant statement.
- MockObject 4y agoWhat are the use cases for these buzzwords? I've been waiting a decade for solid models to emerge.
- Hashemm 4y agoThey're companies, just like any other tech startup with a name. Google can be of assistance to you. I'm not performing due diligence for anyone. You'll see.
- MockObject 4y agoI wasn't asking for DD, but for you to complete your thought.
- Hashemm 4y ago[dead]
- MockObject 4y agoHelium website has nice design. Unfortunately, it forced me to scroll up, down, and all around to piece together the clues and figure out what it even is. I am still trying to work out why I would want one, or what I would do with all that earned $HNT.
- ShamelessC 4y agoCool well nobody knows what the hell those are because your whole "industry" is rife with fraud and schemes.
- Trias11 4y agoYou clearly refuse to see anything but pollution, speculation, theft, and crime. That doesn't reflect reality.
- otikik 4y agoYeah, he forgot to mention the rug pulls.
- cypress66 4y agoA technology doesn't need to revolutionize the world in order to be good. The bitcoin white paper itself says that fiat electronic payments work well enough for most transactions. In my case crypto helps me receive money internationally, in a country where it's a huge pain in the ass otherwise. Just because you don't have a use case does not mean something has no use cases.
- codebje 4y agoHow do you convert that received crypto into spendable cash?
- cinntaile 4y agoHe likely uses an exchange.
- codebje 4y agoAre the exchanges local, or is he doing an international money transfer from the exchange anyway? Trying to find where the value offered by the crypto is, but every way I can see for this to work still involves an international transfer.
- cinntaile 4y agoThe value is paying less in transaction fees, if it was cheaper to use regular bank transactions he would do that instead. He specified he didn't use an exchange by the way, but the reason is the same. It's cheaper.
- cypress66 4y agoFace to face
- Scoundreller 4y agoWhich country?
- beambot 4y agoThe a16z "State of Crypto" deck lays things out fairly cogently: https://a16zcrypto.com/wp-content/uploads/2022/05/state-of-crypto-2022_a16z-crypto.pdf https://a16zcrypto.com/wp-content/uploads/2022/05/state-of-c...
- time_to_smile 4y agoTo me the most obvious example of the failure of crypto is that nobody in Russia, at a reasonable scale, is using it to evade sanctions. I haven't even heard crypto-advocates explain why this isn't happening. I hear all these anecdotes about people sending money back to countries in South America, but these clearly are happening at a small scale and with whatever crypto currency being seen as a slightly more complicated version of other money sending apps. If crypto had a value prop to justify the absurd prices it would be that it would one day replace, or at least compete with, USD as a global currency. The fact that we aren't seeing articles about Russian oligarchs making massive financial transactions using crypto tells me that this will never happen. If ruthless billionaires don't see crypto as a viable means of evading sanctions right now, I can't imagine what conditions would actually make cryptocurrencies succeed. Of course this brings up the obvious problem with crypto: do you really want to live in that world? For all the positive messaging around decentralized exchange, and anti-government rhetoric involving crypto, the reality isn't that it will be used by radical lovers of freedom to evade oppressive governments, but rather that things like sanctions will be impossible. Either way, if crypto was going to become a serious player in facilitating financial transactions we would absolutely be seeing it right now. Since we're not, I'm not sure what arguments are left as far as the "you just wait and see!" crypto camp.
- nixlim 4y agoI think you misunderstand the Russian situation a little bit. Russia has not blocked the movement of cash - you can transfer out up to $50k per month to self or relative. Secondly, the cut off from SWIFT has meant that it takes longer to transfer rather than inability to transfer. Oligarchs don't need to transfer anything - frozen accounts are still accessible for personal expenditure so it's not like they are starving. Moving to crypto for business deals is obviously a non starter.
- panny 4y ago>So far, it’s been nothing but pollution, speculation, theft, and crime. I agree with the sentiment, but I don't believe they ever claimed to solve these things. All the same problems exist with other forms of money. As far as I can tell, crypto is just money with more steps.
- otikik 4y agoAnd gaslighting and harassment and 5 or 6 Wall Street guys becoming richer somehow at the end.
- jksmith 4y agoNothing? How about the ability to self-regulate, and other acts of personal sovereignty? Learn and adapt, network gets stronger for all. Do Kwan is a circus act with elephants - he got implicitly deplatformed if not explicitly.
- crummy 4y ago> How about the ability to self-regulate What does "self-regulate" mean in this context?
- jksmith 4y agoSimply, not depending on a centralized authority for regulation. For instance, whatever value any gov offers regarding trading regulation can be codified into the network. Here's the most obvious example right now: what is the argument for centrally regulating BTC at this point given its design? People will HODL no matter what happens. The set of all attributes of personal sovereignty includes self-regulation.
- lottin 4y agoCan you give an example of an act of personal sovereignty?
- Vladimof 4y agoFor me its easier to send crypto overseas then dollars (I use the one with lowest fees)... And the person even have blank checks pre-signed (there's high fees and delays)
- yieldcrv 4y ago> So far, it’s been nothing but pollution, speculation, theft, and crime. One of the interesting things about crypto to me, is that the projects that don't involve pollution, speculation, theft and crime don't get noticed because of the lack of controversy or speculation. People are like "but what if there wasn't artificial scarcity", well those projects exist, they just fail to coordinate humans to care. What you see is survivorship bias. There are many onchain-only versions of other onchain projects without any token at all! Annnnd thats exactly why nobody knows about them. (some are pretty active though, they just don't bubble up and out to a broader community) Theft and crime? I mean if that's the headlines you see, (or even if its your actual experience), thats still not nearly everything. Pollution? Proof of work still taking up all the headlines when only like 2 out of like a thousand blockchains are heavy on that, with one of those 2 trying as hard as it can to go off of that. (I'm not opining about the "revolutionize" part, that one is so subjective that its not worth bothering.)
- satyrnein 4y agoCan you tell us about some of these projects that aren't getting noticed?
- yieldcrv 4y agoOne of Sila Money's applications was that they were able to convince banks to do faster domestic ACH transactions by putting the transfer messages on a public blockchain, instead of bothering with some kind of shared database or permissioned consortium blockchain. (You can add arbitrary data to most cryptocurrency transactions). Another one that comes to mind is pNetwork. That is a big bridge, was the subject of a large and amateurish hack. There are now many bridge technologies. I had found it interesting that it was so popular but had no token, seemed like it was popular in Asia which contributed to me missing it before the headlines. Nowadays most bridges don't have a token associated with them though. Sometimes what I do to find projects that don't surface from seeing a big token price movement or don't surface from hearing people talk about it, is to search for certain code signatures for a constructor or a popular function that programmers might re-implement.
- 4y ago
- patcon 4y agodisclaimer: i'm a bit of a lateral thinker so you might not like some of my metaphors, but fwiw they're backed by a biochem degree and a not-insignificant number of years working at intersection of tech/society/democracy. I'm not a crypto fan, but am mostly understanding it as a financial churn mechanism. Wealth and power tend to pool and become self-stabilizing -- power is inherently conservative imho. Assets moving between hands is part of renewal cycles -- generally a chance for change or something different. It allows new possibilities to be stumbled into. Even just assuming we're doing a random walk of the possibility space, churn is better than stasis, no? If there's any value in crypto, it's imho mostly about moving money between hands. Crypto has funded a ton of garbage and fads, but also a ton of research and advocacy. So yea, new garbage, but also new and different research and advocacy, different than we'd have had otherwise. I could certainly judge and express opinions on which hands it's moving between (and that's a site of action for justice work) but it can still be a net positive even when that's flawed. re: moving X between hands. The value here is comparable to how some believe the main value of democracy is that it's a stable system for moving power between hands, and nothing more.[1] We wrap it in a nice story, but some smart people genuinely believe it's nothing more, and that most things we tell us about how and why democracy works, it's pretty suspect. (I've worked in democratic reform movements for almost a decade, so that's not an unconsidered perspective.) Again, speaking of "churn" and keeping power circulating. The value of churn is kinda like the value of tidal action or diurnal rhythms generally -- it doesn't have a goal on which to judge whether it's "succeeding", but from the churn and flow of resources, it supports ecologies that find new niches. So maybe crypto has no purpose. But even if pointless, it can still have a role in the environment we live in. Tides, democracy, american dreams, crypto or any goldrush past -- it's maybe stuff with mystique because each is a churn that creates some sort of renewal, like turning the earth with a shovel and mixing it up. I'm glad for most any churn, especially in a society lacking it in certain spaces, even if it leaves things to be desired. imho the alternative is to allow power to entrench more and more, which isn't the team i want to be on while wishing crypto away * shrug * [1]: https://www.amazon.ca/Democracy-Realists-Elections-Responsive-Government/dp/0691178240/ https://www.amazon.ca/Democracy-Realists-Elections-Responsiv...
- koheripbal 4y agoIt 's been instrumental in illegal purchases online (drugs, weapons, counterfeit currency, etc), tax evasion, sanctions avoidance, and money laundering. Some of these things, in some contexts, are both ethical and critically useful. Obviously there are also many (if not most) unethical use-cases. ...but you cannot claim it has no practical value.
- rt4mn 4y agoIts not revolutionizing the world, but it is allowing people to shop online without having their transactions spied on by credit card companies or the government. Cryptocurrencies are the only viable mechanism for online financial privacy that comes even remotely close to widespread adoption and use.
- fullshark 4y agoWhich is why the main value is and will always be illegal transactions. That's the problem it solves, it's not 100% a bad thing cause it prevents the gov't from possibly abusing power in controlling of financial transactions, but the main impact of crypto is to allow organized crime to operate.
- TAForObvReasons 4y agoThere are plenty of legal purchases that people would want to keep to themselves. If there were an anonymous non-cash way to purchase legal medications, many people would take that option rather than reveal health details to data brokers.
- iamben 4y agoMaybe my answer is entirely UK based, but I'm pretty sure if I asked in my circle of non tech friends, I don't think any of them would have a concern about buying anything legal on a credit or debit card. You might not want your friends to know, but I don't think they care in the slightest about the bank or CC company knowing. And even if they did, that can be obfuscated a little more by buying it with a non-high street bank (like Revolut) they never have to go into/use for their mortgage or whatever.
- typeofhuman 4y agoYou don't send money to family overseas do you? For us, it has revolutionized the world.
- rvz 4y ago> So far, it’s been nothing but pollution, speculation, theft, and crime. I see, nothing right? So Stripe [0], Stellar, and MoneyGram [1] are polluting the world? Where is Stripe, and MoneyGram scamming then? Of course, we like to complain about the scammers in crypto (and there are outright scams on there but not all of them are scams) just as we keep complaining about the non-free software and spyware that is plagued by the same companies from Google, Microsoft and Apple. Some are still waiting for all non-free software to be wiped off the face of the software industry and after 37 years, that hasn't happened and it has gotten to the point that we have the same Big tech companies keeping privacy activist companies like Mozilla on life support. The outcome is the same and it is co-existence. Many of these coins and tokens will collapse, but the useful and compliant ones with ISO 20020 will still be around as soon as regulations come in, which will disappoint both crypto-maximalists and the skeptics. [0] https://stripe.com/blog/expanding-global-payouts-with-crypto https://stripe.com/blog/expanding-global-payouts-with-crypto [1] https://www.bloomberg.com/news/articles/2022-05-29/moneygram-ceo-sees-a-future-in-stablecoin-remittances https://www.bloomberg.com/news/articles/2022-05-29/moneygram...
- thedangler 4y agoGameStop NFT marketplace is going to be a game changer if they pull it off with immutable X, loopring, and piñata. Hint. It’s not just for images.
- al_borland 4y agoI'm waiting for the fad to die so I can stop hearing about it.
- jacobsenscott 4y agoWell, it has revolutionized pollution, speculation, theft, and crime. And those things have always been a major part of the world.
- kristopolous 4y agoRegulated securities also started unregulated, just like crypto. They had boosters just like crypto and the same problems happened that led to the regulations. It's just tech pressing a reset button on things and pretending like it won't end up in the same place - like it did with taxis and hotels.
- bsedlm 4y agoare you talking about hallucinogenic substances?