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Criticize crypto however you like. Much or all of it is justified. But, don't make the mistake of believing that crypto is a nothingburger. Crypto tech, includi
by spir 3y ago
Criticize crypto however you like. Much or all of it is justified. But, don't make the mistake of believing that crypto is a nothingburger. Crypto tech, including stablecoins and NFTs, will eat the economic world.
- recursive 3y agoI've heard that a lot of times. I don't think it's getting any more true. Regardless the details of the math, there seems to be a problem interfacing with the real world. If you want to use any of this for any practical purpose, e.g. buy a banana, at some point, part of the transaction is going to be off-chain. I've never heard of a way of synchronizing this without defeating the whole value proposition of the crypto stuff.
- rideontime 3y agoYou may want to read the linked article, as it's not actually criticizing crypto itself, but rather a specific VC's attempt to spin the current state of crypto.
- JumpCrisscross 3y ago> Crypto tech, including stablecoins and NFTs, will eat the economic world I support people spending their lives and money validating this claim. But they shouldn’t lie. This article cites specific lies that Andreessen told to sell crypto. At the very least, that should result in fines and sanctions.
- jfb 3y agoExtraordinary claims require extraordinary evidence. It is much more likely that crypto will end up where most VC backed scams end up; with a stubborn and shrinking remnant of diehard fans who never realized how they were being used, and the VCs with the yachts.
- napierzaza 3y ago[dead]
- astrodust 3y agoIt's been a long, long time since 2009 and it still hasn't. Crypto is like the Segway, launched with breathless fanfare, yet in the end it won't revolutionize a thing.
- jfghi 3y agoSimilarly, the existing tech was better.
- zzbzq 3y agowhy though
- luckydata 3y agoCrypto IS a nothingburger.
- rchaud 3y agoIf electricity usage is anything to go by, crypto's already taken a bite of the economic world.
- marginalia_nu 3y agoYou see these "x will happen" claims a lot in the hypesphere. Both crypto shills and ai-bros seem to love the construct. Makes things sound more definitive, and since they're just statements detached from actual reasoning, they're difficult to contradict with anything other than "no" or "why though", which sounds like a much worse argument than it is, and is certainly less punchy than the original claim.
- pocket_cheese 3y agoPayments and stablecoins have many usecases. Like international payments, irrevocable payments, and auditing. However NFTs are just a deed to an address space on the blockchain. I don't see anything useful that can be implemented with this.
- Timber-6539 3y agoIf crypto had any real world value, we'd be seeing new innovation come out post the infamous FTX meltdown. Instead it went into a coma and currently looks like just another racket in waiting for when/if QE makes a comeback.