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Is it hindsight? I've worked in crypto since 2016 and I knew it was all BS and all scams back then. Seven years later, it hasn't contributed anything to society

Is it hindsight? I've worked in crypto since 2016 and I knew it was all BS and all scams back then. Seven years later, it hasn't contributed anything to society except more sophisticated scams.

hulitu 4y ago
> it hasn't contributed anything to society It paid journalists.
- deleted 4y ago
  [deleted]
john_the_writer 4y ago
Yep.. only hindsight if you were walking backwards with your eye closed. I've not see one real use case. It's all just a "greater fool" exercise.
senttoschool 4y ago
PS. A lot of people have been saying crypto is all scam and BS back in 2016. Probably even much earlier. It's not just me.
pcthrowaway 4y ago
There are a lot of BS, scammy projects. And it sounds like you've worked for them (and apparently don't have an issue with that, or you have no other options). That doesn't mean it's all BS and scams.
- senttoschool 4y ago
  It's all BS and scams.
  - deleted 4y ago
    [deleted]
daqhris 4y ago
If you are interested, I would be open to having a discussion with you about crypto. Show you a bit about how I've been using crypto for last couple of years. Since 2016, I am living in Belgium as a refugee (asylum seeker as they like to call us). I have had no functional bank account for the last 5 years. The first two years, I had only one option. To use a government-backed bank, called Belfius. etc... Long story short, I just wanted to put out there that crypto's usefulness can not be found unless your life depends on you finding an alternative financial and economic system not under control of a single state or government. Thinking about the opportunities that crypto unlocks.. For the next 5 years, it would be an uphill battle for me, a black man from foreign origin, to start a company in real life, under Belgian law. If I were to do it on the Ethereum blockchain, it would be a matter of days or months. Moreover, the use of crypto technology for nefarious actions says more about the human and the team conducting those kind of morally abject behaviors. Not the math.
- freejazz 4y ago
  I think you mistake your current context with opportunity. It's absolutely true that you can do what you can now thanks to the crypto economy. That doesn't stand for the proposition that the crypto economy presents any sort of business opportunity. It actually suggests the opposite, imo. If the only opportunity in crypto is for the severely unbanked, then there isn't much opportunity in crypto.
  - daqhris 4y ago
    Find me an example in the art market where a creator receives royalties without the involvement of more than one business partner. Be it a curator or dealer or PR agency or trademark office or other legal entities. With a smart contract, royalties are sent back to the creator, straight to a software wallet. That removes friction on the ladder of steps required to climb for a seller to reach a buyer. Efficiency is beloved by the real economy. Especially the media and entertainment sector. I'm not the one who decides on market moves. I'm just using open sourced tech tools to generate income. Someone else in Hollywood or Paris might use the same tools in an attempt to cut costs and reach global audiences/wallets. Let's see what the business community comes up with. The beauty of it is that the underlying technology is openly accessible and freely usable. No patent, no registration fees, no distribution rights, 24/7 reliable on-chain transaction settlement... For real life businesses in this digital age, those are pain-points that could be addressed by something like an Ethereum Layer-2 blockchain. I'm talking from the viewpoint of an entrepreneur that could be running a company in the real world. By business opportunity, I understood what are the key improvements from crypto that could help start/grow a business. One last thing, Shopify.com is about to enable sellers on its platform to use crypto tools, concerning the Direct-To-Consumers type of businesses. Isn't that enough illustrations to show that there might hint of a business opportunity in the crypto economy?

Is it hindsight? I've worked in crypto since 2016 and I knew it was all BS and all scams back then. Seven years later, it hasn't contributed anything to society except more sophisticated scams.

hulitu 4y ago

> it hasn't contributed anything to society It paid journalists.

deleted 4y ago
[deleted]

john_the_writer 4y ago

Yep.. only hindsight if you were walking backwards with your eye closed. I've not see one real use case. It's all just a "greater fool" exercise.

senttoschool 4y ago

PS. A lot of people have been saying crypto is all scam and BS back in 2016. Probably even much earlier. It's not just me.

pcthrowaway 4y ago

There are a lot of BS, scammy projects. And it sounds like you've worked for them (and apparently don't have an issue with that, or you have no other options). That doesn't mean it's all BS and scams.

senttoschool 4y ago
It's all BS and scams.
- deleted 4y ago
  [deleted]

daqhris 4y ago

If you are interested, I would be open to having a discussion with you about crypto. Show you a bit about how I've been using crypto for last couple of years. Since 2016, I am living in Belgium as a refugee (asylum seeker as they like to call us). I have had no functional bank account for the last 5 years. The first two years, I had only one option. To use a government-backed bank, called Belfius. etc... Long story short, I just wanted to put out there that crypto's usefulness can not be found unless your life depends on you finding an alternative financial and economic system not under control of a single state or government. Thinking about the opportunities that crypto unlocks.. For the next 5 years, it would be an uphill battle for me, a black man from foreign origin, to start a company in real life, under Belgian law. If I were to do it on the Ethereum blockchain, it would be a matter of days or months. Moreover, the use of crypto technology for nefarious actions says more about the human and the team conducting those kind of morally abject behaviors. Not the math.

freejazz 4y ago
I think you mistake your current context with opportunity. It's absolutely true that you can do what you can now thanks to the crypto economy. That doesn't stand for the proposition that the crypto economy presents any sort of business opportunity. It actually suggests the opposite, imo. If the only opportunity in crypto is for the severely unbanked, then there isn't much opportunity in crypto.
- daqhris 4y ago
  Find me an example in the art market where a creator receives royalties without the involvement of more than one business partner. Be it a curator or dealer or PR agency or trademark office or other legal entities. With a smart contract, royalties are sent back to the creator, straight to a software wallet. That removes friction on the ladder of steps required to climb for a seller to reach a buyer. Efficiency is beloved by the real economy. Especially the media and entertainment sector. I'm not the one who decides on market moves. I'm just using open sourced tech tools to generate income. Someone else in Hollywood or Paris might use the same tools in an attempt to cut costs and reach global audiences/wallets. Let's see what the business community comes up with. The beauty of it is that the underlying technology is openly accessible and freely usable. No patent, no registration fees, no distribution rights, 24/7 reliable on-chain transaction settlement... For real life businesses in this digital age, those are pain-points that could be addressed by something like an Ethereum Layer-2 blockchain. I'm talking from the viewpoint of an entrepreneur that could be running a company in the real world. By business opportunity, I understood what are the key improvements from crypto that could help start/grow a business. One last thing, Shopify.com is about to enable sellers on its platform to use crypto tools, concerning the Direct-To-Consumers type of businesses. Isn't that enough illustrations to show that there might hint of a business opportunity in the crypto economy?