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Currently, you have to opt-in to crypto. It looks like there is a non-negligible chance that it might become opt-out, then societally required. Let me put it s

Currently, you have to opt-in to crypto. It looks like there is a non-negligible chance that it might become opt-out, then societally required. Let me put it simply: the ecosystem is built on bad tech. Immutable transaction history is stupid because it enshrines bad transactions as absolute fact, making the fight over established history competitive and zero-sum. The transaction times make legitimate transactions inconvenient or impossible. The gas fees are unconscionable in how large they can inflate and how rapidly they shift. Proof of Stake is designed to entrench the power of early movers by ensuring marginal rewards go to those with more. It is a bad system by which to organize people.

hanniabu 3y ago
> Immutable transaction history is stupid because it enshrines bad transactions as absolute fact It prevent some entity arbitrarily deciding which transactions are deemed bad > The transaction times make legitimate transactions inconvenient or impossible I'm guessing all you know is Bitcoin 10min block times, that's ancient tech and the industry has moved past that. Transactions confirm in seconds, and near instant on rollups > The gas fees are unconscionable in how large they can inflate and how rapidly they shift Again, rollups are cheap and only getting cheaper (should be 1/100th progressively over the next 2 years) > Proof of Stake is designed to entrench the power of early movers by ensuring marginal rewards go to those with more This is a fallacy and has been debunked time and time again
- jurynulifcation 3y ago
  Oh if it's so easy to debunk my arguments, surely you can link me to a resource not tied into the ecosystem that debunks them? That is, a resource that does not stand to profit from coverage of crypto.
  - EGreg 3y ago
    If it’s so easy to debunk my arguments in biochemistry, surely it would be easy to link to an article by people outside of biochemistry and aren’t tied into that industry… that is, a resource completely economically independent of everything related to biochemistry
    - jurynulifcation 3y ago
      [flagged]
      - dang 3y ago
        Yikes - you broke the site guidelines repeatedly and badly in this thread. That's seriously not ok. We ban accounts that do this kind of thing, but I don't want to ban you because before this thread it didn't seem to be a pattern. Could you please review https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html and stick to the rules from now on? We'd be grateful. That means not posting in the flamewar style anymore. It also means avoiding snark and putdowns and name-calling, and sticking to thoughtful, respective comments. We want curious conversation here, not people bashing each other.
        jurynulifcation 3y ago
        Hey, just to be clear, I acknowledge that you said this. I wanted to give it a couple days to cool off. I am very sorry; I did indeed get lost in the sauce. Thank you for the warning. Should I delete my posts in this thread?
        dang 3y ago
        Thanks for the reply! No need to delete - correcting things going forward is the only thing we care about, and I greatly appreciate your intention to do so.

hanniabu 3y ago

> Immutable transaction history is stupid because it enshrines bad transactions as absolute fact It prevent some entity arbitrarily deciding which transactions are deemed bad > The transaction times make legitimate transactions inconvenient or impossible I'm guessing all you know is Bitcoin 10min block times, that's ancient tech and the industry has moved past that. Transactions confirm in seconds, and near instant on rollups > The gas fees are unconscionable in how large they can inflate and how rapidly they shift Again, rollups are cheap and only getting cheaper (should be 1/100th progressively over the next 2 years) > Proof of Stake is designed to entrench the power of early movers by ensuring marginal rewards go to those with more This is a fallacy and has been debunked time and time again

jurynulifcation 3y ago
Oh if it's so easy to debunk my arguments, surely you can link me to a resource not tied into the ecosystem that debunks them? That is, a resource that does not stand to profit from coverage of crypto.
- EGreg 3y ago
  If it’s so easy to debunk my arguments in biochemistry, surely it would be easy to link to an article by people outside of biochemistry and aren’t tied into that industry… that is, a resource completely economically independent of everything related to biochemistry
  - jurynulifcation 3y ago
    [flagged]
    - dang 3y ago
      Yikes - you broke the site guidelines repeatedly and badly in this thread. That's seriously not ok. We ban accounts that do this kind of thing, but I don't want to ban you because before this thread it didn't seem to be a pattern. Could you please review https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html and stick to the rules from now on? We'd be grateful. That means not posting in the flamewar style anymore. It also means avoiding snark and putdowns and name-calling, and sticking to thoughtful, respective comments. We want curious conversation here, not people bashing each other.
      - jurynulifcation 3y ago
        Hey, just to be clear, I acknowledge that you said this. I wanted to give it a couple days to cool off. I am very sorry; I did indeed get lost in the sauce. Thank you for the warning. Should I delete my posts in this thread?
        dang 3y ago
        Thanks for the reply! No need to delete - correcting things going forward is the only thing we care about, and I greatly appreciate your intention to do so.