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It may have already been noted elsewhere but it seems important to note that the author was (is?) the CTO of private blockchain start up and choosing to not dis

It may have already been noted elsewhere but it seems important to note that the author was (is?) the CTO of private blockchain start up and choosing to not disclose this in any of his crypto criticism seems very dishonest https://twitter.com/dystopiabreaker/status/1470126927818067969 https://twitter.com/dystopiabreaker/status/14701269278180679...

rvz 4y ago
I guess it would be embarrassing for him to admit that he tried to compete against Ethereum after Cardano destroyed his private blockchain startup. Stephen Diehl is also no better than the crypto maximalists with his extreme absolutism. You won't see him debate and test his arguments with a balanced panel discussion so that you can easily see how extreme his arguments are. He has a book to sell and is full time, 24/7 tweeting the 'all of crypto is scam' chorus. Not all cryptocurrencies, tokens will survive, but only a select few of them and their technologies will still be around to be used under regulations.
- ur-whale 4y ago
  > I guess it would be embarrassing for him to admit that he tried to compete against Ethereum after Cardano destroyed his private blockchain startup. Given the level of Rage Against The Crypto ™ displayed, that's pretty much implicit.
- 411111111111111 4y ago
  > Not all cryptocurrencies, tokens will survive, but only a select few of them and their technologies will still be around to be used under regulations. No chance in hell. The only sustained market this technology has are illegal transactions/black market. To begin with: a regulated Blockchain is an oxymoron. The technology ceases to have any meaning if the government has the ability to regulate the chain. They'd be able be more effective with regular acid databases and certificates for the web of trust, like they've been doing for a very long time now. You be combining the downsides of Blockchain with the downsides of traditional banking, gaining only the weaknesses of both.
  - ghostpepper 4y ago
    Surely you're not claiming that inferior tech has never won in all of history?
    - 411111111111111 4y ago
      It happens, but generally only if the marketing of the weaker technology won out while both technologies were still growing. This is not that kind of situation, the crypto hype train derailed ages ago and only one country attempted to switch to a crypto currency, which predictably ended in a disaster and turned out to be a money laundering scheme of the person that was driving the initiative.
- epistemer 4y ago
  He makes some good arguments and is certainly better read in economics than the youtube conspiracy theory video level/back cover summary of the Creature from Jekyll Island economics most crypto enthusiast stochastic parrot back as truth. The 24/7 crypto is a scam community is extremely odd though. I can't stand the sport of NASCAR but I can't imagine enveloping my entire thought and identity around how much I think NASCAR is a bullshit sport and trying to convince people to stop watching NASCAR. Finding an anti-passion to that degree seems extraordinarily unhealthy mentally.
  - FormerBandmate 4y ago
    It’s an extension of the culture war. Tons of right wing culture warriors got really rich off crypto without doing anything to deserve that wealth, so left wing culture warriors are naturally opposed to it. You check out /r/Buttcoin, they also hate GameStop (valid) and Elon Musk (much less so, he’s doing great work outside of Twitter despite his immaturity) for those same fundamental reasons. It’s more of the same social media derangement cycle that sucks in so many people on both sides, even if they fundamentally have a point about a lot of crypto being based on nothing
    - dvngnt_ 4y ago
      what you wrote in parentheses is enough to not like elon. didn't he falsely accuse someone for being a pedo because they said his submarine would not have saved the people trapped in the Thailand cave?
      - FormerBandmate 4y ago
        Elon Musk, personally, is an asshole. He is also majorly addicted to Twitter, which toxifies him, and his acquisition of Twitter is the equivalent of a severe alcoholic buying Anheuser-Busch. Nevertheless, Teslas are great cars and SpaceX is doing phenomenal work in space travel. Hating Musk with a passion is extremely weird, and tons of online people really do
      - falcrist 4y ago
- latchkey 4y ago
  Molly White is the female Diehl.
- TomSwirly 4y ago
  Strong cryptography has value, but that was invented in the 70s. The blockchain will have no value. It's almost as old as the smartphone, and we still don't have a killer application for it, or any application at all.
tossl568 4y ago
Yep, Stephen Diehl is not somebody to be taken seriously
- steego 4y ago
  Fine - Which crypto critics do you take seriously?
  - emanuele232 4y ago
    i like fractal.id
  - dmitriid 4y ago
    Molly White https://blog.mollywhite.net/ https://blog.mollywhite.net/
  - rrdharan 4y ago
    The Crypto Critics Corner (Cas Piancey, Bennet Tomlin) is excellent: https://cryptocriticscorner.com/ https://cryptocriticscorner.com/
  - WaffleIronMaker 4y ago
    Folding Ideas has a very good documentary on NFTs, and many of the problems faced by cryptocurrency [1]. [1] https://youtu.be/YQ_xWvX1n9g https://youtu.be/YQ_xWvX1n9g
    - tossl568 4y ago
      Except he compares Bitcoin's irreversable final settlement transactions per seconds metric to Visa's tps which is more akin to the lightning network. Apples to Oranges.
dvngnt_ 4y ago
at least he's consistent to the scam

rvz 4y ago

I guess it would be embarrassing for him to admit that he tried to compete against Ethereum after Cardano destroyed his private blockchain startup. Stephen Diehl is also no better than the crypto maximalists with his extreme absolutism. You won't see him debate and test his arguments with a balanced panel discussion so that you can easily see how extreme his arguments are. He has a book to sell and is full time, 24/7 tweeting the 'all of crypto is scam' chorus. Not all cryptocurrencies, tokens will survive, but only a select few of them and their technologies will still be around to be used under regulations.

ur-whale 4y ago
> I guess it would be embarrassing for him to admit that he tried to compete against Ethereum after Cardano destroyed his private blockchain startup. Given the level of Rage Against The Crypto ™ displayed, that's pretty much implicit.
411111111111111 4y ago
> Not all cryptocurrencies, tokens will survive, but only a select few of them and their technologies will still be around to be used under regulations. No chance in hell. The only sustained market this technology has are illegal transactions/black market. To begin with: a regulated Blockchain is an oxymoron. The technology ceases to have any meaning if the government has the ability to regulate the chain. They'd be able be more effective with regular acid databases and certificates for the web of trust, like they've been doing for a very long time now. You be combining the downsides of Blockchain with the downsides of traditional banking, gaining only the weaknesses of both.
- ghostpepper 4y ago
  Surely you're not claiming that inferior tech has never won in all of history?
  - 411111111111111 4y ago
    It happens, but generally only if the marketing of the weaker technology won out while both technologies were still growing. This is not that kind of situation, the crypto hype train derailed ages ago and only one country attempted to switch to a crypto currency, which predictably ended in a disaster and turned out to be a money laundering scheme of the person that was driving the initiative.
epistemer 4y ago
He makes some good arguments and is certainly better read in economics than the youtube conspiracy theory video level/back cover summary of the Creature from Jekyll Island economics most crypto enthusiast stochastic parrot back as truth. The 24/7 crypto is a scam community is extremely odd though. I can't stand the sport of NASCAR but I can't imagine enveloping my entire thought and identity around how much I think NASCAR is a bullshit sport and trying to convince people to stop watching NASCAR. Finding an anti-passion to that degree seems extraordinarily unhealthy mentally.
- FormerBandmate 4y ago
  It’s an extension of the culture war. Tons of right wing culture warriors got really rich off crypto without doing anything to deserve that wealth, so left wing culture warriors are naturally opposed to it. You check out /r/Buttcoin, they also hate GameStop (valid) and Elon Musk (much less so, he’s doing great work outside of Twitter despite his immaturity) for those same fundamental reasons. It’s more of the same social media derangement cycle that sucks in so many people on both sides, even if they fundamentally have a point about a lot of crypto being based on nothing
  - dvngnt_ 4y ago
    what you wrote in parentheses is enough to not like elon. didn't he falsely accuse someone for being a pedo because they said his submarine would not have saved the people trapped in the Thailand cave?
    - FormerBandmate 4y ago
      Elon Musk, personally, is an asshole. He is also majorly addicted to Twitter, which toxifies him, and his acquisition of Twitter is the equivalent of a severe alcoholic buying Anheuser-Busch. Nevertheless, Teslas are great cars and SpaceX is doing phenomenal work in space travel. Hating Musk with a passion is extremely weird, and tons of online people really do
    - falcrist 4y ago
latchkey 4y ago
Molly White is the female Diehl.
TomSwirly 4y ago
Strong cryptography has value, but that was invented in the 70s. The blockchain will have no value. It's almost as old as the smartphone, and we still don't have a killer application for it, or any application at all.

tossl568 4y ago

Yep, Stephen Diehl is not somebody to be taken seriously

steego 4y ago
Fine - Which crypto critics do you take seriously?
- emanuele232 4y ago
  i like fractal.id
- dmitriid 4y ago
  Molly White https://blog.mollywhite.net/ https://blog.mollywhite.net/
- rrdharan 4y ago
  The Crypto Critics Corner (Cas Piancey, Bennet Tomlin) is excellent: https://cryptocriticscorner.com/ https://cryptocriticscorner.com/
- WaffleIronMaker 4y ago
  Folding Ideas has a very good documentary on NFTs, and many of the problems faced by cryptocurrency [1]. [1] https://youtu.be/YQ_xWvX1n9g https://youtu.be/YQ_xWvX1n9g
  - tossl568 4y ago
    Except he compares Bitcoin's irreversable final settlement transactions per seconds metric to Visa's tps which is more akin to the lightning network. Apples to Oranges.

dvngnt_ 4y ago

at least he's consistent to the scam