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> who spout incoherent word salad I affectionally call it crypto-babble. > critics describe what it does better than its advocates Seems to be true of pretty
by jpgvm 4y ago
> who spout incoherent word salad
I affectionally call it crypto-babble.
> critics describe what it does better than its advocates
Seems to be true of pretty much all crypto. Most of the advocates have a very poor understanding of how it works, what the benefits/tradeoffs are and worst of all a complete ignorance of the systems they are seeking to "replace".
As a result we see all the crypto stuff simply repeat mistakes/failures/weaknesses that have been known in financial systems for around a century or more in most cases.
- dubswithus 4y agoMost of the discussion about HN is not about technicalities of smart contracts or block times or ledgers. The skeptics are interested in repeating the same lines but have a very poor understanding of how it works.
- jpgvm 4y agoThat is much less of a problem than the reverse scenario. Being sceptical of something doesn't necessitate a strong understanding, being an advocate does, or at least should. Remember the existing systems work and thus far crypto isn't offering anything new, just alternatives with different trade-offs. That places an awfully high burden of proof on any crypto advocate and such a bar is far from being reached.
- dubswithus 4y ago> Remember the existing systems work and thus far crypto isn't offering anything new, just alternatives with different trade-offs. That places an awfully high burden of proof on any crypto advocate and such a bar is far from being reached. No it doesn't. Crypto doesn't need to do anything better to succeed. It only needs to capture the imagination of the public. That's what terrifies the anti-crypto folks here and why they furiously post against crypto. You are powerless against this trend just like many were powerless when Facebook, Instagram, and TikTok started their domination of everyone's attention.