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I said AI has utility but drives irrational levels of investment. Crypto has little utility besides a place to gamble, con credulous people and otherwise act as
by TeriyakiBomb 6mo ago
I said AI has utility but drives irrational levels of investment. Crypto has little utility besides a place to gamble, con credulous people and otherwise act as a really shitty store of wealth.
Most modern crypto projects barely bother to promise to do anything useful let alone achieve anything useful, which the overwhelming majority do not.
These aren't beliefs but statements of fact.
- OutOfHere 6mo ago[flagged]
- TeriyakiBomb 6mo agoOk. Well have fun. Bye.
- thephyber 6mo agoWho is investing in NFTs today? Who is building their company using permission-less blockchain as the database? The average person still uses a bank checking account, not replacing it with a crypto account. I haven’t heard of any progress on tokens in the Governance direction. Stablecoins without a public audit trail have so far stayed relevant, but there are several which are suspiciously reminiscent of the mistakes that SBF made. We all see the transfer of funds and the ostensible store of wealth when it comes to buying influence or presidential pardons. Those of us not wearing crypto-colored glasses don’t see the promise that VCs sold us on the industry 5-10 years ago.
- OutOfHere 6mo agoI never spoke about NFTs nor do I have to speak about them, not today and not ever, so save your bait. It's in the same way that you didn't speak about bank bailouts, so I won't bait you into it. Most people obviously use multiple accounts of different types. Those who have crypto wallets will never reveal them to you in the interest of their privacy. Stablecoin firms make so much cash via interest that they're easily over-capitalized. If you're foolish enough to be manipulated by VC interests, that's your own fault. I would focus on the tech, not on what VCs want you to believe. This applies generally, irrespective of the sector. I don't know why this is hard to understand.
- nothinkjustai 6mo agoNFTs are stupid. But I have a feeling as governments default on their debt and economies collapse in the next few decades cryptocurrencies will be of increasing importance.
- LtWorf 6mo agoCryptocurrencies are now useless, considering how openai and similar companies have enough compute to highjack them and the AI thing might not work out at all…
- OutOfHere 6mo agoThat's 100% nonsense.
- LtWorf 6mo agoThanks for putting the time to articulate why the AI GPUs cannot possibly be used to fork the blockchain and obtain the majority.
- OutOfHere 6mo agoBecause they're needed to run AI. Newer hardware is increasingly specialized for AI too. Moreover, if funds start disappearing, the price will crash, negating the point.
- LtWorf 6mo agoThey're raising the prices for AI, so demand will inevitably lower, freeing up capacity.
- OutOfHere 6mo agoYou're speaking out of your a$$. AI demand is booming; it will keep booming ~10x more every year, so ~1000x more in three years. If the prices are booming, it's to have a more sustainable pricing model.
- c-cube 6mo agoThat's very uncharitable. Crypto has been extremely useful for all sorts of grifters and enabled separating fools from their money at true web scale.
- cozzyd 6mo agoIndeed, it would be difficult for Iran to receive payment for passage through the straight or Hormuz without crypto or fir North Korea's ransomwwre economy to be so lucrative.
- OutOfHere 6mo agoYou're speaking complete nonsense, considering there is no evidence of anyone having paid Iran in crypto. Iran had been receiving payments in the Chinese currency.
- tardedmeme 6mo agoThose things you listed have lots of utility. Gambling is one of the most lucrative industries to be in.