Cryptos are purely a speculation vessel, they don't fix many of the problems they claim to fix and add tons of problems over other currencies
I'm fine with cryptos as long as they're not pitched as something they're not
I'm fine with cryptos as long as they're not pitched as something they're not
It’s like when a function’s documentation says “returns a tuple with three elements” but looking at the source it only returns a tuple with two elements.
My tech survival skills help me avoid things where what people say is different than what they’re doing. And saying that crypto is about storing value and transactions and smart contracts and then designing it specifically to award speculators is dissonance.
I’ve seen lots of architects and programmers try to back into design decisions with flimsy reasons to just not bother with it.
I’ve been waiting it to shake out as it will be really cool to have digital currency and smart contracts.
This is a less talking about area of cryptocurrencies but in my opinion quite an important one. For the first time we can create digital scarcity without relying on a trusted party. NFTs have no digital analogue.
I think the incentives of new users greatly increasing wealth of early users is too alluring to overcome. Until that gets solved, I think it’s hard to actually meet some of these use cases because they get crowded out by various approaches who only care about attracting investors and speculators.
Which seems a good bet, when the government is increasing the fiat money supply by 40% per year [1].
[1] https://seekingalpha.com/article/4392716-in-october-money-su...
You'd use bitcoin for money laundering if you want to stand out and get caught. There's still nothing better than the tried-and-tested old cash, casino junket, money exchange and/or import/export businesses to launder money.
There's a reason why the most recent crop of darkweb drug markets have switched almost entirely to Monero
you need to do a little bit a research, it seems...
What real world problem is bitcoin solving right now and which isn't completely negligible next to the infrastructure cost of btc ?
PS: I'm not talking about the theoretical benefits the bitcoin aficionados are parroting all day long for the last 10 years and are still nowhere to be seen
Do you mean that it would be easier for some rich person to make more money by speculating in dollars and euros than it would be to speculate in bitcoins?
> Polkadot provides unprecedented economic scalability by enabling a common set of validators to secure multiple blockchains.
keyword bingo !
What problems does it solve ? Who's problems does it solve ?
Rate Visa&Co vs ethereum 2.0 based on this.
The whole point is trustlessness
Also, regardless of your feelings of how 'Useful' something is, the crypto market is worth 1.2T. There's millions to be made in DeFI and it's changing the world and propelling previously unknown people into some of the richest people on the planet. Kinda like the original internet, whether you want it or not its coming. Get on board or get out of the way.
It isn't about being technical. It is about explaining why rather than what. If I started talking about cuckoo hashing before explaining that I was providing an associative container, it'd read weird. Similarly, one can fully understand the technical jargon and still come away from that material with "but why".
> Get on board or get out of the way
See, this is the stuff that makes every else get aggravated by cryptocurrency startup culture.