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Seeing people still argue about the legitimacy of the crypto space, after FTX, after so many hacks and rug pulls gives me more hope for the future of this space

by kaycey2022 3y ago

Seeing people still argue about the legitimacy of the crypto space, after FTX, after so many hacks and rug pulls gives me more hope for the future of this space than anything else. Actual developments in the space are quite technically dense, so I don't expect to see those discussed in HN.

huijzer 3y ago
> Actual developments in the space are quite technically dense, so I don't expect to see those discussed in HN. You seem to suggest that the technology behind cryptocurrencies is too difficult for HN people to understand. While that might be true, it is still not an argument in favor of cryptocurrencies. That something is more complex does not automatically imply that it is more valuable.
- glimshe 3y ago
  One example is traditional alchemy. Sometimes extremely smart people find an outlet for the intelligence and end up building enormous intellectual edifices for the sake of building them, irrespective of actual practical value. Cryptocurrencies are like a giant puzzle game where players solve problems designed by their own community.
- kaycey2022 3y ago
  I'm not suggesting that at all. Just that there are technically sophisticated developments taking place in the space but most of the conversation that surfaces here is just related to politics or law or just personal opinion. There is hardly any discussion here about zk, or wallet abstraction, or even breakdowns of the hacks. Once the hivemind takes a position in social media, deeper technical discussions have no point. So even serious people in the space would just avoid it outside of some limited spaces.
  - huijzer 3y ago
    There are an infinite amount of impressive technical things that we could be talking about. I'd rather focus on the things that are providing value to most people. The only value that I see cryptocurrencies provide is to people in non-liberal countries, but even there it's just a matter of time for the governments to block these currencies. Cryptocurrencies are just a hack even there. > Once the hivemind takes a position in social media, deeper technical discussions have no point. So even serious people in the space would just avoid it outside of some limited spaces. What is the point exactly?
- lostmsu 3y ago
  > That something is more complex does not automatically imply that it is more valuable. I believe the statement is that there are valuable things (in parent opinion), but they are not discussed on HN due to being technically difficult. This statement doesn't claim 1st half is implied by 2nd half at any point.

huijzer 3y ago

> Actual developments in the space are quite technically dense, so I don't expect to see those discussed in HN. You seem to suggest that the technology behind cryptocurrencies is too difficult for HN people to understand. While that might be true, it is still not an argument in favor of cryptocurrencies. That something is more complex does not automatically imply that it is more valuable.

glimshe 3y ago
One example is traditional alchemy. Sometimes extremely smart people find an outlet for the intelligence and end up building enormous intellectual edifices for the sake of building them, irrespective of actual practical value. Cryptocurrencies are like a giant puzzle game where players solve problems designed by their own community.
kaycey2022 3y ago
I'm not suggesting that at all. Just that there are technically sophisticated developments taking place in the space but most of the conversation that surfaces here is just related to politics or law or just personal opinion. There is hardly any discussion here about zk, or wallet abstraction, or even breakdowns of the hacks. Once the hivemind takes a position in social media, deeper technical discussions have no point. So even serious people in the space would just avoid it outside of some limited spaces.
- huijzer 3y ago
  There are an infinite amount of impressive technical things that we could be talking about. I'd rather focus on the things that are providing value to most people. The only value that I see cryptocurrencies provide is to people in non-liberal countries, but even there it's just a matter of time for the governments to block these currencies. Cryptocurrencies are just a hack even there. > Once the hivemind takes a position in social media, deeper technical discussions have no point. So even serious people in the space would just avoid it outside of some limited spaces. What is the point exactly?
lostmsu 3y ago
> That something is more complex does not automatically imply that it is more valuable. I believe the statement is that there are valuable things (in parent opinion), but they are not discussed on HN due to being technically difficult. This statement doesn't claim 1st half is implied by 2nd half at any point.