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Those of us fortunate to live within a, mostly, good economic system don’t need cryptocurrency. I don’t have a problem saying that. But I also have the imaginat

Those of us fortunate to live within a, mostly, good economic system don’t need cryptocurrency. I don’t have a problem saying that. But I also have the imagination to wonder if it will always be the case. And the empathy to understand that not every human is as fortunate as myself. People making broad statements about a technology seem to do so only from their current perspective. “Crypto is useless” for example, really means: “crypto is useless to me.”

troupo 3y ago
I've lived in both a bad economy and a good economy. Having your money in USD is always a safer bet in bad economies. > “Crypto is useless” for example, really means: “crypto is useless to me.” No. It means "crypto is useless for every single use case it's advertised as a solution for except illegal money transfers, and even then the number of caveats is as long as the equator"
- landemva 3y ago
  Nobody can steal my crypto, I don't need a physical vault for gold coins, and I can buy stuff around the world in minutes. Am in North America.
  - reducesuffering 3y ago
    You sure? Bitcoin Core dev lost all his 200 BTC crypto via hack... Hope you understand bitcoin security better than him. https://cointelegraph.com/news/bitcoin-core-developer-claims-to-have-lost-200-btc-in-hack https://cointelegraph.com/news/bitcoin-core-developer-claims...
    - landemva 3y ago
      Really like how the whataboutism adds useful thoughts. That guy claimed his cloud VM was compromised. Few would consider that to be a secure way to keep a secret, and it could be a boating accident story. Boating accidents do happen.
      - Vanit 3y ago
        Your reaction is how everyone reacts before their own crypto is stolen. I don't know how crypto proponents think they can simultaneously wave away this level of fraud but still seek economy-wide adoption.
        landemva 3y ago
        His cloud VM was supposedly hacked. That was not hacking crypto, it was hacking a generic cloud account. And why presume what I may or may not be advocating?
      - reducesuffering 3y ago
        https://news.ycombinator.com/item?id=37268750 https://news.ycombinator.com/item?id=37268750 Hope you're diversified...
  - troupo 3y ago
    > Nobody can steal my crypto, "Once the victim connected their crypto wallet, it was immediately drained of $900,000 in the USDC stablecoin" "The "interchain stablecoin protocol" Harbor announced on August 19 that they had experienced an exploit that drained some of the funds in the project pools" "The Exactly Protocol, an attempt to "decentralize the credit market" built on the Optimism layer-2 network, was exploited. An attacker has siphoned more than 7,160 ETH (~$12 million) from the project" "Blockchain Capital co-founder Bart Stephens has filed a lawsuit against as-yet-unknown individuals who he says stole $6.3 million in cryptocurrency from him." "Exploiters stole around 471 ETH (~$857,000) from the RocketSwap project " "The Zunami Protocol stablecoin-focused yield farming aggregator was exploited for more than $2.1 million" > I can buy stuff around the world in minutes I've been able to do that in seconds for nearly 20 years now. Was/am in Eastern Europe, Turkey, EU. No crypto necessary
- rich_sasha 3y ago
  How do you store your USD if you live in, say, Zimbabwe or Argentina?
  - troupo 3y ago
    Cash. You store them as cash. Many countries that are unstable from the "first-world" point of view, but stable enough to provide a banking system with deposit or savings accounts in USD or Euro. And yes, people use those (I did).
cryptobruh 3y ago
My arguments against crypto are never about 'not useful for me'. You either never heard arguments or ignore them but there are not just theoretical but also real life shows us that it doesn't work. Your poor person who needs to save their hard cash in a dictatorship can either buy things, get dollars or euros (like what they do in Iran) or try to find someone to take their risky local currency to exchange it for a better digital one. One were this poor person needs to understand backup strategy, fraud, computer and smartphones. This is so naive it's ridiculous. And continue to ignore EVERYTHING bad which happens to crypto the last 3 years. Of course Sam and others those are NEVER crypto issues right? Btw the poor people would benefit more from less CO2 instead of some crypto shit.

troupo 3y ago

I've lived in both a bad economy and a good economy. Having your money in USD is always a safer bet in bad economies. > “Crypto is useless” for example, really means: “crypto is useless to me.” No. It means "crypto is useless for every single use case it's advertised as a solution for except illegal money transfers, and even then the number of caveats is as long as the equator"

landemva 3y ago
Nobody can steal my crypto, I don't need a physical vault for gold coins, and I can buy stuff around the world in minutes. Am in North America.
- reducesuffering 3y ago
  You sure? Bitcoin Core dev lost all his 200 BTC crypto via hack... Hope you understand bitcoin security better than him. https://cointelegraph.com/news/bitcoin-core-developer-claims-to-have-lost-200-btc-in-hack https://cointelegraph.com/news/bitcoin-core-developer-claims...
  - landemva 3y ago
    Really like how the whataboutism adds useful thoughts. That guy claimed his cloud VM was compromised. Few would consider that to be a secure way to keep a secret, and it could be a boating accident story. Boating accidents do happen.
    - Vanit 3y ago
      Your reaction is how everyone reacts before their own crypto is stolen. I don't know how crypto proponents think they can simultaneously wave away this level of fraud but still seek economy-wide adoption.
      - landemva 3y ago
        His cloud VM was supposedly hacked. That was not hacking crypto, it was hacking a generic cloud account. And why presume what I may or may not be advocating?
    - reducesuffering 3y ago
      https://news.ycombinator.com/item?id=37268750 https://news.ycombinator.com/item?id=37268750 Hope you're diversified...
- troupo 3y ago
  > Nobody can steal my crypto, "Once the victim connected their crypto wallet, it was immediately drained of $900,000 in the USDC stablecoin" "The "interchain stablecoin protocol" Harbor announced on August 19 that they had experienced an exploit that drained some of the funds in the project pools" "The Exactly Protocol, an attempt to "decentralize the credit market" built on the Optimism layer-2 network, was exploited. An attacker has siphoned more than 7,160 ETH (~$12 million) from the project" "Blockchain Capital co-founder Bart Stephens has filed a lawsuit against as-yet-unknown individuals who he says stole $6.3 million in cryptocurrency from him." "Exploiters stole around 471 ETH (~$857,000) from the RocketSwap project " "The Zunami Protocol stablecoin-focused yield farming aggregator was exploited for more than $2.1 million" > I can buy stuff around the world in minutes I've been able to do that in seconds for nearly 20 years now. Was/am in Eastern Europe, Turkey, EU. No crypto necessary
rich_sasha 3y ago
How do you store your USD if you live in, say, Zimbabwe or Argentina?
- troupo 3y ago
  Cash. You store them as cash. Many countries that are unstable from the "first-world" point of view, but stable enough to provide a banking system with deposit or savings accounts in USD or Euro. And yes, people use those (I did).

cryptobruh 3y ago

My arguments against crypto are never about 'not useful for me'. You either never heard arguments or ignore them but there are not just theoretical but also real life shows us that it doesn't work. Your poor person who needs to save their hard cash in a dictatorship can either buy things, get dollars or euros (like what they do in Iran) or try to find someone to take their risky local currency to exchange it for a better digital one. One were this poor person needs to understand backup strategy, fraud, computer and smartphones. This is so naive it's ridiculous. And continue to ignore EVERYTHING bad which happens to crypto the last 3 years. Of course Sam and others those are NEVER crypto issues right? Btw the poor people would benefit more from less CO2 instead of some crypto shit.