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This isn't a defense of the corporate banking structure. The cognitive load necessary to grok crypto currencies doesn't displace that which is required to util

This isn't a defense of the corporate banking structure. The cognitive load necessary to grok crypto currencies doesn't displace that which is required to utilize existing financial solutions, it's just adds to it. It's also less forgiving and has fewer safe guards or regulations. For most people, crypto is just an added layer of obfuscation and complexity with some speculative gambling sprinkled on top. It benefits few and only when utilized by many. It's like cash, if cash were a bar of wet soap you had to hold onto while riding a roller coaster in the rain.

Karunamon 4y ago
To grok something and to utilize something are two entirely different levels of understanding and it is not honest to conflate the two; most people don't grok the existing financial infrastructures either.
- cptskippy 4y ago
  Grok was the wrong word then. I wasn't conflating the two but rather emphasizing that the amount of cognitive load needed to utilizing crypto in our society is far higher than what's needed to use a cash, bank card, or even credit.
  - Karunamon 4y ago
    I disagree. At least from the standpoint of the average end-user; sending or receiving a payment with a mainstream cryptocurrency is not meaningfully more difficult than doing that with something like PayPal or Cashapp. Different, but not more difficult. And this is with a wallet where you control your own keys. If you use a centralized site like Coinbase then is basically indistinguishable from something like those other apps.
idiotsecant 4y ago
Crypto isn't terribly hard, depending on the exact context you have in mind when you say 'crypto'. It boils down to keeping your key safe and accessible, or in the custody of someone who can keep your keys safe and accessible. You can literally stamp your keys into some steel plate, bolt them somewhere safe in your house, and forget about them for 30 years. You use a hardware wallet for your day-to-day and a separate hardware wallet for your savings account and transfer between as needed. It's not for everyone, but it isn't hard - it's just new context.
- cptskippy 4y ago
  > Crypto isn't terribly hard ... for you. That's the key. After the Thanksgiving holiday over the course of 2 weeks, I fabricated and installed individually addressable permanent LED holiday lights on my three story house and built out a control box for less than $1000. It wasn't hard... for me. You likely already posses a great deal of knowledge necessary to leverage crypto that a lot of people don't. It's not hard... for you.
  - idiotsecant 4y ago
    That's not an argument that makes much sense to me, because we do things every day that require a great deal of context and training. At some point someone taught us how to operate a steel missile that burns hydrocarbons to propel us onto a road network where we need to be able to interpret symbols, colors, and complex pre-arranged maneuvers in order to allow us to negotiate this system and not die. That took maybe a few weeks to figure out. Crypto is not hard, it's in fact quite simple. It's just a matter of training people on a couple of simple rules. You don't need any pre-existing skills, you don't need any expensive equipment, you just need to be motivated to spend a few hours learning a new thing.

Karunamon 4y ago

To grok something and to utilize something are two entirely different levels of understanding and it is not honest to conflate the two; most people don't grok the existing financial infrastructures either.

cptskippy 4y ago
Grok was the wrong word then. I wasn't conflating the two but rather emphasizing that the amount of cognitive load needed to utilizing crypto in our society is far higher than what's needed to use a cash, bank card, or even credit.
- Karunamon 4y ago
  I disagree. At least from the standpoint of the average end-user; sending or receiving a payment with a mainstream cryptocurrency is not meaningfully more difficult than doing that with something like PayPal or Cashapp. Different, but not more difficult. And this is with a wallet where you control your own keys. If you use a centralized site like Coinbase then is basically indistinguishable from something like those other apps.

idiotsecant 4y ago

Crypto isn't terribly hard, depending on the exact context you have in mind when you say 'crypto'. It boils down to keeping your key safe and accessible, or in the custody of someone who can keep your keys safe and accessible. You can literally stamp your keys into some steel plate, bolt them somewhere safe in your house, and forget about them for 30 years. You use a hardware wallet for your day-to-day and a separate hardware wallet for your savings account and transfer between as needed. It's not for everyone, but it isn't hard - it's just new context.

cptskippy 4y ago
> Crypto isn't terribly hard ... for you. That's the key. After the Thanksgiving holiday over the course of 2 weeks, I fabricated and installed individually addressable permanent LED holiday lights on my three story house and built out a control box for less than $1000. It wasn't hard... for me. You likely already posses a great deal of knowledge necessary to leverage crypto that a lot of people don't. It's not hard... for you.
- idiotsecant 4y ago
  That's not an argument that makes much sense to me, because we do things every day that require a great deal of context and training. At some point someone taught us how to operate a steel missile that burns hydrocarbons to propel us onto a road network where we need to be able to interpret symbols, colors, and complex pre-arranged maneuvers in order to allow us to negotiate this system and not die. That took maybe a few weeks to figure out. Crypto is not hard, it's in fact quite simple. It's just a matter of training people on a couple of simple rules. You don't need any pre-existing skills, you don't need any expensive equipment, you just need to be motivated to spend a few hours learning a new thing.