5 ms·

They can’t both be cool?

by DJBunnies 4y ago

nightfly 4y ago
One is a contest to waste the most resources, one has potential to actually have useful results
- super256 4y ago
  Why do you think Bitcoin does not have useful results?
  - ben_w 4y ago
    Strictly speaking, the comment you're replying to doesn't say which of the two is a contest to waste resources and which has potential to have useful results.
    - super256 4y ago
      I assumed that this was doubling down on atleastoptimal’s view.
  - speedgoose 4y ago
    Can you cite an useful result? I can't but I don't think that some people getting richer is useful.
    - Xerox9213 4y ago
      https://www.elliptic.co/blog/live-updates-millions-in-crypto-crowdfunded-for-the-ukrainian-military https://www.elliptic.co/blog/live-updates-millions-in-crypto... https://www.cnbc.com/2022/03/23/ukrainian-flees-to-poland-with-2000-in-bitcoin-on-usb-drive.html https://www.cnbc.com/2022/03/23/ukrainian-flees-to-poland-wi... In general, the purpose of Bitcoin is not to get rich, but to have a currency that is universally accepted and not tied to a political party’s fiscal decisions.
      - UncleEntity 4y ago
        In general, so is the Federal Reserve.
    - super256 4y ago
      Sure: I can buy servers and domains anonymously and buy drugs online, which are illegal in my country.
  - idiotsecant 4y ago
    Bitcoin has a use, but there are other options for consensus algorithms that don't waste as much energy as the citizens of a medium sized country and fill the same user case (and other expanded use cases). Why not just do that?
- DJBunnies 4y ago
  Well, I agree with you there.
moffkalast 4y ago
Nothing cool in throwing away lots of resources for no reason. In fact there's substantial heating involved.
ben_w 4y ago
Only if you really like big numbers for the sake of them. Otherwise, one is just straight up snake oil[0], and the other… is kinda hard to tell yet, because while I'm really impressed, I don't know if it's {a toy, a tool, the first sign of a major transformation}. [0] did you know the original snake oils contains more omega-3 and therefore improves cognitive function when compared to lard? I did not. But you can get omega-3 elsewhere, and the people who made the term synonymous with fraud didn't use those snakes, so…

They can’t both be cool?

nightfly 4y ago

One is a contest to waste the most resources, one has potential to actually have useful results

super256 4y ago
Why do you think Bitcoin does not have useful results?
- ben_w 4y ago
  Strictly speaking, the comment you're replying to doesn't say which of the two is a contest to waste resources and which has potential to have useful results.
  - super256 4y ago
    I assumed that this was doubling down on atleastoptimal’s view.
- speedgoose 4y ago
  Can you cite an useful result? I can't but I don't think that some people getting richer is useful.
  - Xerox9213 4y ago
    https://www.elliptic.co/blog/live-updates-millions-in-crypto-crowdfunded-for-the-ukrainian-military https://www.elliptic.co/blog/live-updates-millions-in-crypto... https://www.cnbc.com/2022/03/23/ukrainian-flees-to-poland-with-2000-in-bitcoin-on-usb-drive.html https://www.cnbc.com/2022/03/23/ukrainian-flees-to-poland-wi... In general, the purpose of Bitcoin is not to get rich, but to have a currency that is universally accepted and not tied to a political party’s fiscal decisions.
    - UncleEntity 4y ago
      In general, so is the Federal Reserve.
  - super256 4y ago
    Sure: I can buy servers and domains anonymously and buy drugs online, which are illegal in my country.
- idiotsecant 4y ago
  Bitcoin has a use, but there are other options for consensus algorithms that don't waste as much energy as the citizens of a medium sized country and fill the same user case (and other expanded use cases). Why not just do that?
DJBunnies 4y ago
Well, I agree with you there.

moffkalast 4y ago

Nothing cool in throwing away lots of resources for no reason. In fact there's substantial heating involved.

ben_w 4y ago

Only if you really like big numbers for the sake of them. Otherwise, one is just straight up snake oil[0], and the other… is kinda hard to tell yet, because while I'm really impressed, I don't know if it's {a toy, a tool, the first sign of a major transformation}. [0] did you know the original snake oils contains more omega-3 and therefore improves cognitive function when compared to lard? I did not. But you can get omega-3 elsewhere, and the people who made the term synonymous with fraud didn't use those snakes, so…