4 ms·

"I don’t want to see so many people getting hurt. My generation has been hit by the financial crisis, by Covid, we’re going to have the climate crisis. These pe

by krunck 4y ago

"I don’t want to see so many people getting hurt. My generation has been hit by the financial crisis, by Covid, we’re going to have the climate crisis. These people don’t need this extra suffering in their life." Better get working on fixing the financial system, the health care system, and CO2 production. Hating on crypto won't solve those.

ilaksh 4y ago
But promoting and adopting cryptocurrency technology actually _will_ improve the financial system. That's the thing that, amazingly, technical people are not picking up on.
- HappySweeney 4y ago
  This is just my opinion, but I highly doubt it. Trust in the technology has been broken by all the hacks, scams, and rug-pulls. Without Joe Average investing in the space, it will never get to the scale required for it to be a viable currency, so there will be no effect on the financial system. Trust is won in drops and lost in buckets, so it will be a long time before Joe looks to crypto as an investment vehicle, if ever.
  - ilaksh 4y ago
    That's kind of the popular sentiment throughout history for all technological advancements. They said the same thing about cars, TVs, personal computers, neural networks etc. "this will probably never really be a thing". Plato said "Writing is a step backward for truth". Trithemius said "Printed books will never be the equivalent of handwritten codices." Mark Twain thought that the telephone had no market and passed on investing. Charlie Chapman said "The cinema is little more than a fad" "I think there is a world market for maybe five computers." -- Thomas Watson, president of IBM, 1943
    - vagrantJin 4y ago
      > "I think there is a world market for maybe five computers." -- Thomas Watson, president of IBM, 1943 He was not wrong! Its about context. Computers were giant complex calculators that needed several highly skilled people to operate. And expensive. Its like SpaceX saying the same thing about falcon heavy propulsion systems. Big, dangerous, requires highly skilled personnel to operate and hella expensive. Context!
- JohnFen 4y ago
  Perhaps technical people aren't picking up on it because nobody has made a strong argument (as near as I can see) that it's true?
  - ilaksh 4y ago
    Please see my comment in the thread explaining the three main advances.

by krunck 4y ago

ilaksh 4y ago

But promoting and adopting cryptocurrency technology actually _will_ improve the financial system. That's the thing that, amazingly, technical people are not picking up on.

HappySweeney 4y ago
This is just my opinion, but I highly doubt it. Trust in the technology has been broken by all the hacks, scams, and rug-pulls. Without Joe Average investing in the space, it will never get to the scale required for it to be a viable currency, so there will be no effect on the financial system. Trust is won in drops and lost in buckets, so it will be a long time before Joe looks to crypto as an investment vehicle, if ever.
- ilaksh 4y ago
  That's kind of the popular sentiment throughout history for all technological advancements. They said the same thing about cars, TVs, personal computers, neural networks etc. "this will probably never really be a thing". Plato said "Writing is a step backward for truth". Trithemius said "Printed books will never be the equivalent of handwritten codices." Mark Twain thought that the telephone had no market and passed on investing. Charlie Chapman said "The cinema is little more than a fad" "I think there is a world market for maybe five computers." -- Thomas Watson, president of IBM, 1943
  - vagrantJin 4y ago
    > "I think there is a world market for maybe five computers." -- Thomas Watson, president of IBM, 1943 He was not wrong! Its about context. Computers were giant complex calculators that needed several highly skilled people to operate. And expensive. Its like SpaceX saying the same thing about falcon heavy propulsion systems. Big, dangerous, requires highly skilled personnel to operate and hella expensive. Context!
JohnFen 4y ago
Perhaps technical people aren't picking up on it because nobody has made a strong argument (as near as I can see) that it's true?
- ilaksh 4y ago
  Please see my comment in the thread explaining the three main advances.