4 ms·

I used to believe this wasn’t the case. Even the ICO craze in 2017/2018 didn’t sway my opinion. I genuinely thought crypto was the future of finance. This most

I used to believe this wasn’t the case. Even the ICO craze in 2017/2018 didn’t sway my opinion. I genuinely thought crypto was the future of finance. This most recent bull cycle from 2020 to late 2021 changed my mind. I believe crypto use cases don’t extend far beyond fraud, gambling, or purchasing illegal goods. Every new project that claims to have some inherent value is just a disguise for gambling, and or straight up fraud.

aaronwalker 4y ago
> *don’t extend far beyond fraud, gambling, or purchasing illegal goods. There are many use cases outside of these. See Cross-border payments, censorship-resistance, trust networks, access to credit, etc.
- sandworm101 4y ago
  >> See Cross-border payments, censorship-resistance Both being illegal. If something is censored by government, the tools to bypass or defeat that censorship are likely illegal, especially if used to distribute uncensored copied of that material. If governments have regulated payments across a particular border, bypassing those regulations is also very likely illegal.
- D13Fd 4y ago
  > Cross-border payments My impression is that cross-border payments are a pretty small use case, especially if you mean legal cross-border payments. I.e., “something the law allows you to do but you can’t find a financial institution to do it.” > censorship-resistance Sure, but again, fairly niche at this point in time in western countries. Most financial censorship cases I’ve heard of in the U.S. sounded pretty well deserved. > trust networks This is a niche of a niche outside. You could just say “cryptography enthusiasts” instead. > access to credit Example? As in, someone with bad credit can still borrow on crypto?
spookthesunset 4y ago
Crypto is the greatest solution in search of a problem we’ve got in the tech world.
- HeartStrings 4y ago
  Incorrect. Before crrypto a censorship resistant asset never existed. It’s the only asset that can bypass censorship.
  - can16358p 4y ago
    Don't expect people from non-corrupt-government countries to understand the importance of this though.
    - ryanSrich 4y ago
      I understand the pain point, but I just don’t see crypto as an industry capable of solving it. Just look at how centralized some of these new networks and tokens are.
  - zht 4y ago
    Until the government shows up and starts breaking your legs
  - sofixa 4y ago
    What about gold, jewelry and precious stones, cash? They can be stored on one's person or in a secure place. They also have underlying value. They're also actually censorship resistant, compared to cryptocurrencies which have been banned in multiple countries, and any determined state can block at the ISP level.

aaronwalker 4y ago

> *don’t extend far beyond fraud, gambling, or purchasing illegal goods. There are many use cases outside of these. See Cross-border payments, censorship-resistance, trust networks, access to credit, etc.

sandworm101 4y ago
>> See Cross-border payments, censorship-resistance Both being illegal. If something is censored by government, the tools to bypass or defeat that censorship are likely illegal, especially if used to distribute uncensored copied of that material. If governments have regulated payments across a particular border, bypassing those regulations is also very likely illegal.
D13Fd 4y ago
> Cross-border payments My impression is that cross-border payments are a pretty small use case, especially if you mean legal cross-border payments. I.e., “something the law allows you to do but you can’t find a financial institution to do it.” > censorship-resistance Sure, but again, fairly niche at this point in time in western countries. Most financial censorship cases I’ve heard of in the U.S. sounded pretty well deserved. > trust networks This is a niche of a niche outside. You could just say “cryptography enthusiasts” instead. > access to credit Example? As in, someone with bad credit can still borrow on crypto?

spookthesunset 4y ago

Crypto is the greatest solution in search of a problem we’ve got in the tech world.

HeartStrings 4y ago
Incorrect. Before crrypto a censorship resistant asset never existed. It’s the only asset that can bypass censorship.
- can16358p 4y ago
  Don't expect people from non-corrupt-government countries to understand the importance of this though.
  - ryanSrich 4y ago
    I understand the pain point, but I just don’t see crypto as an industry capable of solving it. Just look at how centralized some of these new networks and tokens are.
- zht 4y ago
  Until the government shows up and starts breaking your legs
- sofixa 4y ago
  What about gold, jewelry and precious stones, cash? They can be stored on one's person or in a secure place. They also have underlying value. They're also actually censorship resistant, compared to cryptocurrencies which have been banned in multiple countries, and any determined state can block at the ISP level.