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> I think Bitcoin was a really interesting idea in the pre-iPhone era, but for a variety of reasons it just didn't pan out. It’s panning out just fine. Everyon

by ftlio 4y ago

> I think Bitcoin was a really interesting idea in the pre-iPhone era, but for a variety of reasons it just didn't pan out. It’s panning out just fine. Everyone who thinks Bitcoin is old news presupposes that you can do something like Bitcoin, but better. There’s no evidence of this in any non-Bitcoin cryptocurrency. This also ignores that Bitcoin is improving every year. Tools like Liquid and Lightning are incredibly sophisticated, first principles based approaches to real problems in finance, banking, and fungibility. That fly by night securities called "cryptocurrencies" with shallow liquidity claim that they can do better, but always fail to deliver, hasn't undermined anything about Bitcoin. I agree with the parent post. This is great for crypto. Maybe all the web developers who think they can do cryptography better than cryptographers can go do something else now.

mumblemumble 4y ago
> Everyone who thinks Bitcoin is old news presupposes that you can do something like Bitcoin, but better. For most people's everyday purposes, all those things the parent mentioned are doing something like Bitcoin, but better. The one technical problem that cryptocurrency unquestionably handles better than any other technology is solve a problem that is only experienced by people who choose to use cryptocurrency.
Kstarek 4y ago
This is patently false, many crypto currencies have done what Bitcoin has done much better, Fantom, Monero, Ethereum to name a few off the top of my head
dwaltrip 4y ago
I was an early adopter of bitcoin (2012) and I'm pretty over it at this point. It hasn't managed to do much more than be fancy digital gold. I don't find gold very interesting. It isn't a productive asset. It's just a shiny rock that people lock up in a vault. It doesn't benefit society. And as financial instruments, both bitcoin and gold are deflationary, which seems quite bad. I still have a bit of hope for some actually useful stuff to come out of the defi / smart-contract space. But I'm still fairly skeptical. There is a lot of noise and little signal.
null0pointer 4y ago
Monero.

by ftlio 4y ago

mumblemumble 4y ago

> Everyone who thinks Bitcoin is old news presupposes that you can do something like Bitcoin, but better. For most people's everyday purposes, all those things the parent mentioned are doing something like Bitcoin, but better. The one technical problem that cryptocurrency unquestionably handles better than any other technology is solve a problem that is only experienced by people who choose to use cryptocurrency.

Kstarek 4y ago

This is patently false, many crypto currencies have done what Bitcoin has done much better, Fantom, Monero, Ethereum to name a few off the top of my head

dwaltrip 4y ago

I was an early adopter of bitcoin (2012) and I'm pretty over it at this point. It hasn't managed to do much more than be fancy digital gold. I don't find gold very interesting. It isn't a productive asset. It's just a shiny rock that people lock up in a vault. It doesn't benefit society. And as financial instruments, both bitcoin and gold are deflationary, which seems quite bad. I still have a bit of hope for some actually useful stuff to come out of the defi / smart-contract space. But I'm still fairly skeptical. There is a lot of noise and little signal.

null0pointer 4y ago

Monero.