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> "Cryptocurrency" was interesting, briefly, before the scams took it over. Now the interesting bits are buried too deep in scummy scams to be worth delving for

> "Cryptocurrency" was interesting, briefly, before the scams took it over. Now the interesting bits are buried too deep in scummy scams to be worth delving for. The whole point of being an early stage investor is that you have to dig for the opportunities. Here is what likely happens: A few cryptocurrencies become used or adopted by the public in some form. All the critics stomp their feet and say, "But a centralized database could do it better, faster, and cheaper! And better for the environment! This is 2026, technology is supposed to move in a direction that helps society! [Coughs in Google, Facebook, and Amazon]" A few years later... Ted: Where are you taking the kids? Janet: Ted, I'm done with this! All you talk about is your hatred of crypto! You're always tweeting about it! What happened to our future?!

tartuffe78 4y ago
I don't think it's the wives of husbands who think too little of crypto that are complaining...
- dubswithus 4y ago
  ... You spent all that time playing fucking Call of Duty online? Maybe if you had invested in the technology our daughter is using now we wouldn't be living in a studio!
  - timkam 4y ago
    Buying crypto is not 'investing in technology'. Also, a currency with massive deflation is not usable. You can't go to the moon forever AND have a usable currency. So even if one bets on adoption of crypto and is risk averse (e.g., to not endanger one's family), the best is to not buy crypto. By now, there are most likely already plenty of families falling apart because plenty of guys (many of whom live under problematic socio-economic conditions/are poorly educated/adopted a responsible lifestyle too late in their lives) followed exactly your line of argumentation. Is there really any doubt that this is happening?
    - dragontamer 4y ago
      > Also, a currency with massive deflation is not usabl You got it backwards. Its currently inflation (BTC getting less-and-less valuable over the recent past). Deflation was 2020, when BTC climbed in price dramatically. Neither deflation, nor inflation, makes for a good currency. That "1000 ether" bet could be $1-million if executed today, but it was $3-million just a few months ago. Because there's no stability in cryptocoins, they are neither stores of value (they decline too quickly), nor currencies (they go up and cause price changes).
      - timkam 4y ago
        I think you are right. But my argument was addressing the crypto-bullish assumption that crypto goes up (i.e., assuming long-term deflation) and that one should 'invest' in it as a responsible parent (as implied by the parent comment that I was responding to). So assuming a (potentially counterfactual) deflation was a strategy for my argument (like in a formal proof by contradiction).

tartuffe78 4y ago

I don't think it's the wives of husbands who think too little of crypto that are complaining...

dubswithus 4y ago
... You spent all that time playing fucking Call of Duty online? Maybe if you had invested in the technology our daughter is using now we wouldn't be living in a studio!
- timkam 4y ago
  Buying crypto is not 'investing in technology'. Also, a currency with massive deflation is not usable. You can't go to the moon forever AND have a usable currency. So even if one bets on adoption of crypto and is risk averse (e.g., to not endanger one's family), the best is to not buy crypto. By now, there are most likely already plenty of families falling apart because plenty of guys (many of whom live under problematic socio-economic conditions/are poorly educated/adopted a responsible lifestyle too late in their lives) followed exactly your line of argumentation. Is there really any doubt that this is happening?
  - dragontamer 4y ago
    > Also, a currency with massive deflation is not usabl You got it backwards. Its currently inflation (BTC getting less-and-less valuable over the recent past). Deflation was 2020, when BTC climbed in price dramatically. Neither deflation, nor inflation, makes for a good currency. That "1000 ether" bet could be $1-million if executed today, but it was $3-million just a few months ago. Because there's no stability in cryptocoins, they are neither stores of value (they decline too quickly), nor currencies (they go up and cause price changes).
    - timkam 4y ago
      I think you are right. But my argument was addressing the crypto-bullish assumption that crypto goes up (i.e., assuming long-term deflation) and that one should 'invest' in it as a responsible parent (as implied by the parent comment that I was responding to). So assuming a (potentially counterfactual) deflation was a strategy for my argument (like in a formal proof by contradiction).