5 ms·

This is the strawman-iest strawman I've seen in a long time. By this logic, there's a use case for getting stabbed in a back alley. Some people need surgery, af

This is the strawman-iest strawman I've seen in a long time. By this logic, there's a use case for getting stabbed in a back alley. Some people need surgery, after all. The proper question is what does cryptocurrency do better than alternatives? On the whole... I think bypassing financial controls to enable ransomware is not an improvement on the previous system.

mike741 4y ago
> The proper question is what does cryptocurrency do better than alternatives? Bitcoin, as one example, does a better job limiting supply and preventing inflation than its fiat alternatives. Of course, this doesn't make the article any less of a strawman.
- danielmarkbruce 4y ago
  If you define inflation as the devaluing of the currency, it doesn't really.... The mechanism by which a currency loses value matters little.
  - mike741 4y ago
    I agree with that definition of inflation, so how hasn't it prevented inflation? Has the supply of bitcoins ever deviated from the intended rate? If it hasn't deviated from that rate then the supply, and thus the involuntary component of inflation, has been successfully kept under control.
- guerrilla 4y ago
  > Bitcoin, as one example, does a better job limiting supply and preventing inflation than its fiat alternatives. You assume that's a plus, but most of the world acts on the opposite assumption, i.e. NAIRU-like policies. I'm not picking a side, just pointing out that you disagree with almost every expert on the planet.
  - mike741 4y ago
    "a plus" depends on who you are. For someone who profits off of inflation, its certainly not a plus. I said it does a better job limiting supply and preventing inflation and that is a fact not an assumption. The supply has been controlled, the only inflation is caused by demand, exactly as intended. Any so-called "expert" who disagrees with that should have their expertise called into question.
  - stale2002 4y ago
    > I'm not picking a side, just pointing out that you disagree with almost every expert on the planet. The beauty of crypto is that if you don't like this feature of crypto, you don't have to use it. Everyone gets what they want! The "experts" who prefer inflationary currency can keep using that, and people who don't want their money inflated can choose otherwise.
    - guerrilla 4y ago
      Or... there are reasons nobody does that. You do realize deflationary "currency" disincentivizes spending, right?
      - stale2002 4y ago
        > Or... there are reasons nobody does that. Like I said, the great part about crypto is that if you have personal reasons to prefer inflationary currencies you can feel free to use those instead. And those who don't want their money inflated away, are free to choose otherwise. Everyone wins! You can prefer inflation for your own money as much as you want. And those who don't want inflation for their own money, can choose differently.
        guerrilla 4y ago
        > personal reasons You seem confused. Societal collapsing vs. non-societal collapsing currencies are not "personal." You're confounding preference and outcome. Deflationary "money" isn't money, which is exactly what we see in all of your experiments, exactly as predicted.
max_ 4y ago
BTC offers censorship resistant money.
- chowells 4y ago
  And I'm saying that enabling ransomware is actually doing worse than the alternatives. It turns out censorship of transactions has value.
  - cowtools 4y ago
    malware enables ransomware: the root of the problem isn't payment. the root of the problem is the widespread insecurity of modern computer systems. You could just as equally blame cash for enabling robberies and conventional ransoms. Should the government step in to censor all cash transactions?
    - aforwardslash 4y ago
      Yes. As an example, in Portugal it is forbidden to perform cash payments above 3.000 Eur. Also, inter-bank transfers above a certain value may require documentation demonstrating they are legitimate. Every country you see pushing electronic payments is already censoring cash transactions, as a way of curb the parallel economy and tax evasion.

mike741 4y ago

> The proper question is what does cryptocurrency do better than alternatives? Bitcoin, as one example, does a better job limiting supply and preventing inflation than its fiat alternatives. Of course, this doesn't make the article any less of a strawman.

danielmarkbruce 4y ago
If you define inflation as the devaluing of the currency, it doesn't really.... The mechanism by which a currency loses value matters little.
- mike741 4y ago
  I agree with that definition of inflation, so how hasn't it prevented inflation? Has the supply of bitcoins ever deviated from the intended rate? If it hasn't deviated from that rate then the supply, and thus the involuntary component of inflation, has been successfully kept under control.
guerrilla 4y ago
> Bitcoin, as one example, does a better job limiting supply and preventing inflation than its fiat alternatives. You assume that's a plus, but most of the world acts on the opposite assumption, i.e. NAIRU-like policies. I'm not picking a side, just pointing out that you disagree with almost every expert on the planet.
- mike741 4y ago
  "a plus" depends on who you are. For someone who profits off of inflation, its certainly not a plus. I said it does a better job limiting supply and preventing inflation and that is a fact not an assumption. The supply has been controlled, the only inflation is caused by demand, exactly as intended. Any so-called "expert" who disagrees with that should have their expertise called into question.
- stale2002 4y ago
  > I'm not picking a side, just pointing out that you disagree with almost every expert on the planet. The beauty of crypto is that if you don't like this feature of crypto, you don't have to use it. Everyone gets what they want! The "experts" who prefer inflationary currency can keep using that, and people who don't want their money inflated can choose otherwise.
  - guerrilla 4y ago
    Or... there are reasons nobody does that. You do realize deflationary "currency" disincentivizes spending, right?
    - stale2002 4y ago
      > Or... there are reasons nobody does that. Like I said, the great part about crypto is that if you have personal reasons to prefer inflationary currencies you can feel free to use those instead. And those who don't want their money inflated away, are free to choose otherwise. Everyone wins! You can prefer inflation for your own money as much as you want. And those who don't want inflation for their own money, can choose differently.
      - guerrilla 4y ago
        > personal reasons You seem confused. Societal collapsing vs. non-societal collapsing currencies are not "personal." You're confounding preference and outcome. Deflationary "money" isn't money, which is exactly what we see in all of your experiments, exactly as predicted.

max_ 4y ago

BTC offers censorship resistant money.

chowells 4y ago
And I'm saying that enabling ransomware is actually doing worse than the alternatives. It turns out censorship of transactions has value.
- cowtools 4y ago
  malware enables ransomware: the root of the problem isn't payment. the root of the problem is the widespread insecurity of modern computer systems. You could just as equally blame cash for enabling robberies and conventional ransoms. Should the government step in to censor all cash transactions?
  - aforwardslash 4y ago
    Yes. As an example, in Portugal it is forbidden to perform cash payments above 3.000 Eur. Also, inter-bank transfers above a certain value may require documentation demonstrating they are legitimate. Every country you see pushing electronic payments is already censoring cash transactions, as a way of curb the parallel economy and tax evasion.