SwimSwimHungry

12 ms·

61.
by SwimSwimHungry 5y ago
Here's the problem with this sentiment. Bitcoin isn't replacing anything. Not pre-existing fiat currency, not banks, nothing. Bitcoin only adds to the problem at an alarming rate. Bitcoin is certainly not a scapegoat. It's
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by SwimSwimHungry 5y ago
As much as I loathe cryptocurrency as a concept, a switch across the board to PoS would certainly be a welcome change to massively decrease this abhorrent waste in energy.
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by SwimSwimHungry 5y ago
Sorry my dude, but we are all paying for this in the ridiculous carbon emissions, whether we we are part of this experiment or not. Save the snark.
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by SwimSwimHungry 5y ago
The more I see stories like this, the more I've come to realize that we really screwed up by allowing this technological experiment to get out of hand. Not to sound pedantic, but our future generations are going to come to regret this
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by SwimSwimHungry 5y ago
When profits are being made, who cares what happens to future generations. Cryptocurrency is, for the most part, a contagion. We opened Pandora's box and the genie is out of the bottle. Short of some kind of cataclysmic black swan even
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by SwimSwimHungry 5y ago
It's the ultimate in handwaveism.
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by SwimSwimHungry 6y ago
Personally, I'm still incredibly skeptical about Ethereum and its ilk, but certainly a far less energy wasteful PoS methodology in the next version (when it finally goes full throttle) I suppose would be a good start. Adding to this, u
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by SwimSwimHungry 6y ago
Here's the reality of the situation. The vast majority of people simply don't care about this. I mean I have a hard enough of a time to get people to care about privacy-centered messaging apps. Getting them to even begin to compre
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by SwimSwimHungry 6y ago
Yes it functions, like on my de-Googled Pixel 3a running GrapheneOS. But it's not particularly reliable in my experience, especially if you don't have the gapps services.
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by SwimSwimHungry 6y ago
And to wit, the sync only occurred once major tech media outlets started to notice. Thus the sync happened to throw them off the scent. Pay no attention to the man behind the curtain, if you will.
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by SwimSwimHungry 6y ago
Which is interesting. Unlike virtually every stock on the stock market, I see Bitcoin-stans constantly harp about the "USD price" of Bitcoin on places like Twitter, Youtube, any social media with a large enough megaphone, just so
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by SwimSwimHungry 6y ago
Or better yet, don't use cryptocurrency at all. Then you can avoid all ethical dilemmas surrounding them. Problem solved.
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by SwimSwimHungry 6y ago
Objectively, it's a humble-brag, as if Bitcoin users are somehow among the enlightened and, by anyone "missing out", they will forever be poor. Or wait... actually I was told it's not too late! Bitcoin is only just getti
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by SwimSwimHungry 6y ago
And a standard database transaction that can be done with pre-existing technology already can do this too? Like seriously, NFTs are not breaking new ground. This is just an excuse to piss away something that could be converted to objectivel
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by SwimSwimHungry 6y ago
This was a beautiful response that articulated my concerns on NFTs better than I ever could. Semi-relatedly, to your point about religion, Bitcoin, cryptocurrency, whatever else falls under this umbrella, really does have a bizarre cultish
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by SwimSwimHungry 6y ago
Pricing goods directly in BTC, to me, is a very big "if" scenario. I think most governments would find a way to put the kibosh to this entire operation before Bitcoin became some kind of default currency in the global sense for ev
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by SwimSwimHungry 6y ago
I appreciate you taking the time to break down your response. I still don't see the utility in NFTs personally (disastrous environmental impact notwithstanding), but you didn't handwave away my criticisms, which is a plus in my bo
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by SwimSwimHungry 6y ago
I realize the Cantillon Effect is more associated with fiat currencies, but I don't think that's what I was aiming for. Bitcoin itself is extremely volatile, and having that indirectly tied to the S&P index could cause problem
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by SwimSwimHungry 6y ago
Well... you're kinda wrong, because now many retirement accounts and such have indirect exposure to cryptocurrencies (MSTR and TSLA's silly Bitcoin buys come to mind, and I know TSLA is part of the S&P500), whether we like it
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by SwimSwimHungry 6y ago
Yeah I'm having a feeling we are gonna need to buckle up. It'll be a bumpy ride.
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by SwimSwimHungry 6y ago
And sadly, to your point Rule35, this is why I feel cryptocurrency will never transcend into a truly legitimate investment vehicle beyond gross speculation. There are too many charlatans tied to this industry and they are wide-eyed seeing a
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by SwimSwimHungry 6y ago
Moodles, never underestimate rich people with too much uninvested capital on their hands.
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by SwimSwimHungry 6y ago
You misunderstand. NFTs grant you absolutely no rights to anything. You simply were fooled into buying a token which points to a resource. That's it. It bestows no additional rights to the content itself. For instance, Jack Dorsey coul
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by SwimSwimHungry 6y ago
We truly are in the era of more money than sense. I get that people want put their money into something other than virtually-worthless low-interest savings accounts, but where will we all be once the musical chairs stops?
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by SwimSwimHungry 6y ago
Sounds to me like it's short-hand for "Bay Area"
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by SwimSwimHungry 6y ago
I don't see anyone really using it though. That's the thing. Which makes me wonder if it's really ready.
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by SwimSwimHungry 6y ago
I really hope you're wrong about that. Bitcoin becoming something like a world reserve currency will only make the problems infinitely worse. Be careful what you wish for, because future generations are going to be left holding the bag
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by SwimSwimHungry 6y ago
I really wish NeXT took off back in the day. The hardware and software were ridiculously elegant. Though I guess NeXT got a new lease on life via Apple later on.
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by SwimSwimHungry 6y ago
You're spot on. The ETH fans love to wax poetic about PoS and how it's always around the corner and coming soon. It's been that way for ages. Lightning Network is similar. It's been perpetually 6 months away for years. F
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by SwimSwimHungry 6y ago
Hydroelectric sources that could be best used on homes, businesses, etc. Anything but Bitcoin, really. Did everyone forget that the best goal we can achieve with power usage is by reducing consumption outright? Just because some of the mini

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