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> I think the central idea ... is a pretty useful thing. What's the best use case that you care to name? > It also happens to be rife with scams, mania, wildl

> I think the central idea ... is a pretty useful thing. What's the best use case that you care to name? > It also happens to be rife with scams, mania, wildly non-useful projects, and all the rest. Just because it has terrible parts This is the argument that "sure, 98% of it is crap, but there's good too". Or put differently: "I've seen 98 scams in a row, so this increases the odds that the next ones that I see won't be a scam!" It's a conclusion in search of a justification.

idiotsecant 4y ago
>What's the best use case that you care to name? Censorship and central authority-resistant value transfers are worth it alone, in my eyes. Coming up second is the ability for money to be programmable in a way that both parties can trust the execution of that program. Those are both primitives upon which pretty cool stuff can be built. >Or put differently: "I've seen 98 scams in a row, so this increases the odds that the next ones that I see won't be a scam!" It's a conclusion in search of a justification. I think it's OK to believe in the core value of an area that also has a lot of scams. When they first invented electricity there were an enormous number of conmen who sold miraculous electro-cures for ailments, etc. It's just because people are interested in new technology, so operating scams in new technology is a good way to find people you can scam. In 50 years all the scams will revolve around whatever newfangled technology exists then, it's a pretty basic human pattern. Find the society-altering technology of the time and there will be people trying to deceptively use it to their own benefit, whether it hurts someone else or not.
- SideburnsOfDoom 4y ago
  Follow through writh that, what is the actual use case for "Censorship and central authority-resistant value transfers" is it legal, and are volatile ctypto tokens good at it? IMHO: No and no. > money to be programmable in a way that both parties can trust is is a) money and b) how has that trust (AKA bug bounty) worked out? > Find the society-altering technology of the time and there will be people trying to deceptively use it to their own benefit, whether it hurts someone else or not. And the fact that it is full of scams does not make it "the society-altering technology of the time" > “But the fact that some geniuses were laughed at does not imply that all who are laughed at are geniuses. They laughed at Columbus, they laughed at Fulton, they laughed at the Wright brothers. But they also laughed at Bozo the Clown.
  - idiotsecant 4y ago
    >Follow through writh that, what is the actual use case for "Censorship and central authority-resistant value transfers" is it legal, and are volatile ctypto tokens good at it? Is it legal? Maybe not. I'm not necessarily concerned with whether transfers are legal or not. From my point of view the most important property is that transfers of value work. Issues of whether governments approve of those transfers is less important to me. Are crypto transfers a good solution? Absolutely yes, IMHO. The fact that so much illegal transfer happens over, for example, Monero is the proof in the pudding that it is a good solution.
    - SideburnsOfDoom 4y ago
      > Is it legal? Maybe not. I'm not necessarily concerned with whether transfers are legal or not. From my point of view the most important property is that transfers of value work. Work that through, "it's illegal banking infrastructure, but it works" and you assume that it's a) legit, not a scam, and b) it's going to continue working long-term despite being illegal. How is the appropriate regular going to fit in, or not? IDK why you have not joined the dots. > Are crypto transfers a good solution? Absolutely yes, IMHO. Comparted to what? Wise.com? SEPA (EU) ? NIBSS (Nigeria) M-pesa? If you're saying "but we don't have those, so.." then you're implying that better non-crypto solutions do exist in the world. Crypto is yet another attempt to "use technology to solve a social problem" that is best addressed another way.

idiotsecant 4y ago

>What's the best use case that you care to name? Censorship and central authority-resistant value transfers are worth it alone, in my eyes. Coming up second is the ability for money to be programmable in a way that both parties can trust the execution of that program. Those are both primitives upon which pretty cool stuff can be built. >Or put differently: "I've seen 98 scams in a row, so this increases the odds that the next ones that I see won't be a scam!" It's a conclusion in search of a justification. I think it's OK to believe in the core value of an area that also has a lot of scams. When they first invented electricity there were an enormous number of conmen who sold miraculous electro-cures for ailments, etc. It's just because people are interested in new technology, so operating scams in new technology is a good way to find people you can scam. In 50 years all the scams will revolve around whatever newfangled technology exists then, it's a pretty basic human pattern. Find the society-altering technology of the time and there will be people trying to deceptively use it to their own benefit, whether it hurts someone else or not.

SideburnsOfDoom 4y ago
Follow through writh that, what is the actual use case for "Censorship and central authority-resistant value transfers" is it legal, and are volatile ctypto tokens good at it? IMHO: No and no. > money to be programmable in a way that both parties can trust is is a) money and b) how has that trust (AKA bug bounty) worked out? > Find the society-altering technology of the time and there will be people trying to deceptively use it to their own benefit, whether it hurts someone else or not. And the fact that it is full of scams does not make it "the society-altering technology of the time" > “But the fact that some geniuses were laughed at does not imply that all who are laughed at are geniuses. They laughed at Columbus, they laughed at Fulton, they laughed at the Wright brothers. But they also laughed at Bozo the Clown.
- idiotsecant 4y ago
  >Follow through writh that, what is the actual use case for "Censorship and central authority-resistant value transfers" is it legal, and are volatile ctypto tokens good at it? Is it legal? Maybe not. I'm not necessarily concerned with whether transfers are legal or not. From my point of view the most important property is that transfers of value work. Issues of whether governments approve of those transfers is less important to me. Are crypto transfers a good solution? Absolutely yes, IMHO. The fact that so much illegal transfer happens over, for example, Monero is the proof in the pudding that it is a good solution.
  - SideburnsOfDoom 4y ago
    > Is it legal? Maybe not. I'm not necessarily concerned with whether transfers are legal or not. From my point of view the most important property is that transfers of value work. Work that through, "it's illegal banking infrastructure, but it works" and you assume that it's a) legit, not a scam, and b) it's going to continue working long-term despite being illegal. How is the appropriate regular going to fit in, or not? IDK why you have not joined the dots. > Are crypto transfers a good solution? Absolutely yes, IMHO. Comparted to what? Wise.com? SEPA (EU) ? NIBSS (Nigeria) M-pesa? If you're saying "but we don't have those, so.." then you're implying that better non-crypto solutions do exist in the world. Crypto is yet another attempt to "use technology to solve a social problem" that is best addressed another way.