3 ms·
> He argues that even if the technical problems were solved, the social and economic changes promised by cryptocurrency are undesirable. I didn’t realize his a
by everfree 3y ago
> He argues that even if the technical problems were solved, the social and economic changes promised by cryptocurrency are undesirable.
I didn’t realize his argument is merely that crypto will change the world in an undesirable way. I thought he was arguing that crypto will be ineffective at changing it at all. That makes his argument much easier to address.
Investing isn’t about judging a technology as good or bad, it’s about judging it as profitable or unprofitable. If he’s not arguing that the line won’t go up, then his argument is frankly irrelevant to me as an investor.
I empathize with people who believe crypto will have an overall negative effect on the world, but it’s not like it will go away if investors refuse to buy units of it. And if crypto does cause real, lasting social and economic changes over the coming decades, I personally doubt that a layman video journalist will be the one to accurately predict the nature of that transformation. The most accurate prediction is probably going to come from someone much more versed in macroeconomics and/or the tech itself. Probably from someone who understands how proof of stake works.
- djur 3y agoI think it's safe to say that the purpose of the video is not to provide investment advice.
- everfree 3y agoIf its purpose isn’t to advise people not to invest, then what’s the purpose of it?
- djur 3y agoFacially it's counterprogramming for pro-crypto advocacy. More broadly it's propaganda intended to promote general opposition to cryptocurrency and the adoption of related technologies. That this includes not investing in crypto markets is a given, but most of the intended audience is not made up of people seriously considering doing that in the first place. The end goal is to reach and convince a broad enough audience that corporations, celebrities, etc. see involvement in crypto as a risk to their brands, not something to be pursued and cashed in on. This also leads to an environment of public sentiment where politicians and regulators are more inclined to crack down on crypto, rather than enabling it.
- everfree 3y agoI'm tired of the propaganda on both sides, honestly. I don't really care what non-technical people think about a piece of software that they don't understand.