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I want to wake up one day and cryptocurrency and anything related to it just doesn’t exist. Man that’d be a great day. Remove grifters, acquire actual progress

I want to wake up one day and cryptocurrency and anything related to it just doesn’t exist. Man that’d be a great day. Remove grifters, acquire actual progress.

pjkundert 4y ago
Ya, back to where globalist bankster elites control every aspect of our lives. Ah, the good old days... ;)
- pjkundert 4y ago
  Seriously, though: having globally accessible, indelible and irrefutable shared ledgers containing balances which cannot be forged, whose operation cannot be stopped by any malicious, busy-body bureaucrat? This is a God-send. It is already the gold-standard for international payments for me, a small computer consultant. Think of all the poor slobs in Russia who've been steam-rolled by these sanctions, and can no longer sell their software or get paid for their little Apps. Whatever you might think about Russia -- "group punishment" is not cool; these are people like you and me who cannot now feed their families. To them, Bitcoin (and other even more capable cryptocurrencies now in development) is the difference between life and death. So, it might be worthwhile to ... reflect, if we find ourself agreeing with the obese head banker at BIS or weird Klaus Schwab, when they say they want to control all aspects of personal commerce. They can pound sand -- I'm going to continue to work to move cryptocurrency technology forward.
- MrMan 4y ago
  so by bankster elites which ethnic group are you referring to? are these people more "elite" than Bay Area YIMBY elites?
- Yizahi 4y ago
  It's clearly better when instead of bankster elites we would be controlled by some shady scammers sitting in the non-extradition offshore. Truly a revolution in finance.
jayd16 4y ago
The rats flee a burning building and move into the next rat's nest. Its nice to know what the current grift is. Although, it would be refreshing to see dumb money and hype thrown in a new direction.
bitxbitxbitcoin 4y ago
> I want to wake up one day and internet and anything related to it just doesn’t exist. Man that’d be a great day. Remove grifters, acquire actual progress. I wonder if there were people in the 80s that said that.
- nxmnxm99 4y ago
  No, because the internet is actually useful.
  - ypeterholmes 4y ago
    Imagine saying something so utterly subjective in such a definitive way
- pmarreck 4y ago
  Rationally, I understand what you're saying, speaking as someone who was intrigued by Bitcoin in 2012 and possibly made a little money off it while I was interested in it. Humanistically, I gotta say, perceptions matter. I left crypto because it just started "tasting gross", regardless of the technological interest I had. Clearly, I wasn't in a minority with that.
  - yellowapple 4y ago
    The Internet tastes pretty gross these days, too, what with the dominant business model being surveillance-driven marketing.
    - pmarreck 4y ago
      I hear you, but these excellent YouTube recommendations and Google App stories tuned so precisely to my interests wouldn't even be remotely as good unless I permitted myself to be data-surveilled. I can't tell you how much I've learned via these (whether informational or entertaining). (Note: I pay for YouTube, because it is an excellent service.) As penance for this, I will cite Martin Fowler's excellent essay on why privacy is necessary for at least some: https://martinfowler.com/articles/bothersome-privacy.html https://martinfowler.com/articles/bothersome-privacy.html
runnerup 4y ago
I like it for the criminal options it facilitates. I don’t personally agree with being unable to import affordable medicine (non-domestic brand generics which weren’t produced in an FDA-approved facility) from India/Turkey/etc and I use bitcoin to facilitate buying the medicines I need from pharmacies which don’t require doctors prescriptions. It saves me a boatload of money and helps me greatly in managing my health. Or to get around the current widespread pharmaceutical shortages which continue since Hurricane Maria destroyed a lot of pharmaceutical production infrastructure in Puerto Rico (e.g. bacteriostatic water). I also am largely okay with people using it for personal quantities of controlled substances, even though I do not use it for that personally. Sometimes these are for legitimate medicinal purposes as well (for example, schedule 2 TRT and HRT drugs)
lake_vincent 4y ago
What is more likely is that you would wake up in a world where Bitcoin may not exist, but is completely dominated by crypto nonetheless. Within a generation or two, I predict that all asset ownership will be crypto-backed. Property. Automobiles. Artwork. Securities. And of course, currency. Fiat itself will become a cryptocurrency once more millennials are in charge. I reserve judgement as to whether or not this will be a net benefit for society. I suspect not, but our present ignorance is far too great to make such a prediction - I just think it's gonna happen whether we want it to or not, so get used to the idea of crypto-everything.
- Yizahi 4y ago
  Could you please describe in your own words how an asset can be "crypto backed", and exactly what operations/interactions are improved by this?
  - lake_vincent 4y ago
    I mean, it is not that hard to imagine, right? A car title becomes an NFT. Whoever owns the NFT owns the car. Same with a house. Or a horse. I'm not a crypto expert, but that is a relatively trivial use case for NFTs. As for how this scales? I have no idea. I'm just speculating that it's gonna happen somehow. I mean, hell, look at this post - a nation adopted Bitcoin. You think that's the last time a government will experiment with crypto? China is already developing their own fiat cryptocurrency. You think it's just gonna stop? I don't necessarily want this to happen, nor am I advocating for it. It's just a prediction, so I'm now sure how to answer your questions.
    - tinco 4y ago
      Well, no crypto expert ever predicted this. The idea of NFT's has pretty much been discounted by everyone in the crypto community for a decade, until they randomly became a fad in 2021. So I wouldn't say it's very easy to imagine. Smart contracts backing more real world assets has a slightly higher chance of becoming a thing, but even with those the value isn't super clear. The whole idea of tracking ownership is that it's backed by authority to enforce it, and the whole idea of cryptocurrency is that it works without authority. If you think NFT you think about that vague thing that has no bearing on the real world. Bitcoin is the magic technology that manages to be scarce and be manifest in the real world despite being fully digital and networked. Ethereum managed to one-up Bitcoin with the smart contracts of which the DAI stablecoin which anchors itself to the real world currency without relying on authority. NFT's basically are the exact opposite of the sort of thing cryptocurrency offers as value to the real world.
pdntspa 4y ago
The grifters will go back to pushing day-trading schemes Crypto can keep them, it's nice to not have to deal with the noise

I want to wake up one day and cryptocurrency and anything related to it just doesn’t exist. Man that’d be a great day. Remove grifters, acquire actual progress.

pjkundert 4y ago

Ya, back to where globalist bankster elites control every aspect of our lives. Ah, the good old days... ;)

pjkundert 4y ago
Seriously, though: having globally accessible, indelible and irrefutable shared ledgers containing balances which cannot be forged, whose operation cannot be stopped by any malicious, busy-body bureaucrat? This is a God-send. It is already the gold-standard for international payments for me, a small computer consultant. Think of all the poor slobs in Russia who've been steam-rolled by these sanctions, and can no longer sell their software or get paid for their little Apps. Whatever you might think about Russia -- "group punishment" is not cool; these are people like you and me who cannot now feed their families. To them, Bitcoin (and other even more capable cryptocurrencies now in development) is the difference between life and death. So, it might be worthwhile to ... reflect, if we find ourself agreeing with the obese head banker at BIS or weird Klaus Schwab, when they say they want to control all aspects of personal commerce. They can pound sand -- I'm going to continue to work to move cryptocurrency technology forward.
MrMan 4y ago
so by bankster elites which ethnic group are you referring to? are these people more "elite" than Bay Area YIMBY elites?
Yizahi 4y ago
It's clearly better when instead of bankster elites we would be controlled by some shady scammers sitting in the non-extradition offshore. Truly a revolution in finance.

jayd16 4y ago

The rats flee a burning building and move into the next rat's nest. Its nice to know what the current grift is. Although, it would be refreshing to see dumb money and hype thrown in a new direction.

bitxbitxbitcoin 4y ago

> I want to wake up one day and internet and anything related to it just doesn’t exist. Man that’d be a great day. Remove grifters, acquire actual progress. I wonder if there were people in the 80s that said that.

nxmnxm99 4y ago
No, because the internet is actually useful.
- ypeterholmes 4y ago
  Imagine saying something so utterly subjective in such a definitive way
pmarreck 4y ago
Rationally, I understand what you're saying, speaking as someone who was intrigued by Bitcoin in 2012 and possibly made a little money off it while I was interested in it. Humanistically, I gotta say, perceptions matter. I left crypto because it just started "tasting gross", regardless of the technological interest I had. Clearly, I wasn't in a minority with that.
- yellowapple 4y ago
  The Internet tastes pretty gross these days, too, what with the dominant business model being surveillance-driven marketing.
  - pmarreck 4y ago
    I hear you, but these excellent YouTube recommendations and Google App stories tuned so precisely to my interests wouldn't even be remotely as good unless I permitted myself to be data-surveilled. I can't tell you how much I've learned via these (whether informational or entertaining). (Note: I pay for YouTube, because it is an excellent service.) As penance for this, I will cite Martin Fowler's excellent essay on why privacy is necessary for at least some: https://martinfowler.com/articles/bothersome-privacy.html https://martinfowler.com/articles/bothersome-privacy.html

runnerup 4y ago

I like it for the criminal options it facilitates. I don’t personally agree with being unable to import affordable medicine (non-domestic brand generics which weren’t produced in an FDA-approved facility) from India/Turkey/etc and I use bitcoin to facilitate buying the medicines I need from pharmacies which don’t require doctors prescriptions. It saves me a boatload of money and helps me greatly in managing my health. Or to get around the current widespread pharmaceutical shortages which continue since Hurricane Maria destroyed a lot of pharmaceutical production infrastructure in Puerto Rico (e.g. bacteriostatic water). I also am largely okay with people using it for personal quantities of controlled substances, even though I do not use it for that personally. Sometimes these are for legitimate medicinal purposes as well (for example, schedule 2 TRT and HRT drugs)

lake_vincent 4y ago

What is more likely is that you would wake up in a world where Bitcoin may not exist, but is completely dominated by crypto nonetheless. Within a generation or two, I predict that all asset ownership will be crypto-backed. Property. Automobiles. Artwork. Securities. And of course, currency. Fiat itself will become a cryptocurrency once more millennials are in charge. I reserve judgement as to whether or not this will be a net benefit for society. I suspect not, but our present ignorance is far too great to make such a prediction - I just think it's gonna happen whether we want it to or not, so get used to the idea of crypto-everything.

Yizahi 4y ago
Could you please describe in your own words how an asset can be "crypto backed", and exactly what operations/interactions are improved by this?
- lake_vincent 4y ago
  I mean, it is not that hard to imagine, right? A car title becomes an NFT. Whoever owns the NFT owns the car. Same with a house. Or a horse. I'm not a crypto expert, but that is a relatively trivial use case for NFTs. As for how this scales? I have no idea. I'm just speculating that it's gonna happen somehow. I mean, hell, look at this post - a nation adopted Bitcoin. You think that's the last time a government will experiment with crypto? China is already developing their own fiat cryptocurrency. You think it's just gonna stop? I don't necessarily want this to happen, nor am I advocating for it. It's just a prediction, so I'm now sure how to answer your questions.
  - tinco 4y ago
    Well, no crypto expert ever predicted this. The idea of NFT's has pretty much been discounted by everyone in the crypto community for a decade, until they randomly became a fad in 2021. So I wouldn't say it's very easy to imagine. Smart contracts backing more real world assets has a slightly higher chance of becoming a thing, but even with those the value isn't super clear. The whole idea of tracking ownership is that it's backed by authority to enforce it, and the whole idea of cryptocurrency is that it works without authority. If you think NFT you think about that vague thing that has no bearing on the real world. Bitcoin is the magic technology that manages to be scarce and be manifest in the real world despite being fully digital and networked. Ethereum managed to one-up Bitcoin with the smart contracts of which the DAI stablecoin which anchors itself to the real world currency without relying on authority. NFT's basically are the exact opposite of the sort of thing cryptocurrency offers as value to the real world.

pdntspa 4y ago

The grifters will go back to pushing day-trading schemes Crypto can keep them, it's nice to not have to deal with the noise