12 ms·

There are none. Period.

sph 3y ago
My dude, you should find a better hobby than just posting on HN crypto posts to spread some FUD. I appreciate skepticism, but you have an axe to grind.
- katella 3y ago
  I don't understand how people make these statements. None is a very strong word, just need one counter example to disprove his argument.
  - talldayo 3y ago
    I can name a lot of counterexamples, however most of them are illegal under US federal law so it's a bit of a moot point. There are legal counterexamples, but the majority that come to mind are equally well-served with fiat. If you ask me to come up with a good, legal reason to hold cryptocurrency, I may well tell you that there is none even if there are a few marginal situations that justify it.
    - RetroTechie 3y ago
      See PurpleRamen's comment above. Blockchain != cryptocurrency. For blockchain, there exist some good (and legitimate) applications. Cryptocoins otoh... lots of gray area there. If not outright Ponzi schemes. I hope some day, some crypto coin(s) will fulfill their original promise. But that day is not today.
      - talldayo 3y ago
        Distributed blockchain applications are normally unnecessary when they are used though, and absolutely overkill when applied with distributed proofs. Very often a network only needs a secured channel to operate, which can be established with much lower overhead than a blockchain. Currency seems to be the only application that would respect such extreme security measures, and that's really only highlighted the low throughput and capacity problems. I really do feel the same about blockchains as I do about cryptocurrency. Both have extremely limited applications that appear marketable and attractive to nerd-adjacent circles, but only show their drawbacks once fully invested. The intention behind creating a blockchain (or even some cryptocurrency) is pure in it's inception. The application of both technologies is so messy that I would recommend most people stick with simpler options.
- colesantiago 3y ago
  It's not "FUD" to just call something what it is. Millions have lost money due to this pyramid / ponzi scheme, and people like you trying to justify it with nonsense ad hominems. It is well documented that crypto absolutely has no legitimate use case whatsoever that works better than the current system other than speculation, ransomware, etc. So it is just as simple as to say the fact that: "There are none. Period."

sph 3y ago

My dude, you should find a better hobby than just posting on HN crypto posts to spread some FUD. I appreciate skepticism, but you have an axe to grind.

katella 3y ago
I don't understand how people make these statements. None is a very strong word, just need one counter example to disprove his argument.
- talldayo 3y ago
  I can name a lot of counterexamples, however most of them are illegal under US federal law so it's a bit of a moot point. There are legal counterexamples, but the majority that come to mind are equally well-served with fiat. If you ask me to come up with a good, legal reason to hold cryptocurrency, I may well tell you that there is none even if there are a few marginal situations that justify it.
  - RetroTechie 3y ago
    See PurpleRamen's comment above. Blockchain != cryptocurrency. For blockchain, there exist some good (and legitimate) applications. Cryptocoins otoh... lots of gray area there. If not outright Ponzi schemes. I hope some day, some crypto coin(s) will fulfill their original promise. But that day is not today.
    - talldayo 3y ago
      Distributed blockchain applications are normally unnecessary when they are used though, and absolutely overkill when applied with distributed proofs. Very often a network only needs a secured channel to operate, which can be established with much lower overhead than a blockchain. Currency seems to be the only application that would respect such extreme security measures, and that's really only highlighted the low throughput and capacity problems. I really do feel the same about blockchains as I do about cryptocurrency. Both have extremely limited applications that appear marketable and attractive to nerd-adjacent circles, but only show their drawbacks once fully invested. The intention behind creating a blockchain (or even some cryptocurrency) is pure in it's inception. The application of both technologies is so messy that I would recommend most people stick with simpler options.
colesantiago 3y ago
It's not "FUD" to just call something what it is. Millions have lost money due to this pyramid / ponzi scheme, and people like you trying to justify it with nonsense ad hominems. It is well documented that crypto absolutely has no legitimate use case whatsoever that works better than the current system other than speculation, ransomware, etc. So it is just as simple as to say the fact that: "There are none. Period."