Comment by nbzso | Hacker News Reader

Comment by nbzso | Hacker News Reader

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I don’t know. This hype-crypto-machine is not catching up with my “feelings” about the future of the Web. Maybe I am getting old, but aside from some communication protocol usage and some form of authenticity (which is questionable), I don’t see web3.

I would go out on a limb and say that if this is web3, I don’t want to have anything to do with it. This is an outrageous waste of resources and energy with awful environmental impact, driven primarily by pure greed and wishful thinking.

Looking at mindset of the VC’s, which are giving this “things” validation, scares the living sh*t out of me.

More and more, implementation of modern ‘tech’ is pushing me towards abandoning the ship and moving into the woods somewhere.

Don’t let me start with NFT’s. It is horrible. The impact of this thing over a lot of my friends is getting ridiculous. I somehow understand “the money” aspect (ponzi scheme, money laundering), but recently I got “the cult” vibes from some of them and closed the door permanently.

So hard “no” from me. I already have a “Metaverse” in which I feel comfortable, it is called reality.

And Web 2.0 is enough for my needs.:)

OK. I am convinced. The entire cryptocurrency industry is a scam.

So rather than saying the same thing over and over on every HN thread about it being a 'scam', let's do something about it then? How do we ban it all to save the planet and stop the scams everywhere then?

Or are we going to complain on the next HN thread about cryptocurrencies and web3 once again?

It's no more a scam than the dollar, yuan, or euro.

It's as trusted as the system backing it. Can it be trusted enough that you at least can see when it's being manipulated? Can your current system? Some countries benefit greatly, some maybe little to none.

When every transaction flows publicly that's already a different starting point than what we have today.

How do you wanna ban it? Break my fingers so I can’t run some open source software? Break my hardware so It can’t Hash, cut my power? Arrest me for doing math?

The battle is between the libertarians and the authoritarians. The authoritarians want to ban things they don’t understand. They want to bully others with their choice of how they use energy. They want the state boot stomping on the face of humanity forever.

Banning is always an act of violence. Don’t give in to violence.

It's amazing that this is being downvoted.

Such a simple and straightforward argument and instead of having it they'd rather hide it. I wonder why.

Because the "argument" has a limited view, namely that individual liberty is the ultimate goal/blessing/benefit. A blanket "all banning is bad" is just wrong. Saying "are you gonna arrest me from doing math" is like saying "are you gonna arrest me for mixing chemicals?" when you're making a homemade bomb to explode other people. The impact of the current crypto rush is worldwide, this person's energy use to generate BOOBER COIN TM is directly impacting the environment I exist in, why is it OK for your liberty to affect me? Do I then have the liberty to somehow harass/exploit your liberty to make my money?

Not saying banning crypto is the answer, just saying this is reductive and flawed as an argument

Where is this energy towards banking institutions that use even more Tw hours and do even more damage?

Your argument is flawed. Making a bomb has a narrow purpose to do damage. Banking institutions do dramatically more damage. This is a potential alternative removing middlemen from the equation and operating at a fixed rate.

Proof of Work didn't predict the use of ASICs and was intended for common hardware that would make dominating the pool cost prohibitive. Proof if Stake is one alternative although has its own issues.

Yes, greed is what you are angry at. That is absolutely the problem. If you are truly upset about the environmental impact then moving upstream to energy producers should be your target.

Nuclear is astronomically more energy dense and has made significant strides in zero waste plants and safety features. Then again you aren't complaining about the banking institutions impact on climate which outscales crypto and continues to climb.

People like you helped a lot to make cryptocurrencies born by banning rights and oppressing freedom. Paper money does a lot more, and I mean A LOT more damage to the world, still damaging...

You just don't understand what you are talking about. Everything can be abused, but just because it is abused that does not mean it should be banned.

Agreed.

To add to this who is out there quantifying how much energy is used by the data centers, jets, etc, of banking institutions and other institutions driving money to contrast this to? It's almost like some people might want the system that is currently in place to stay that way.

Karma police Arrest this man He talks in maths He buzzes like a fridge He's like a detuned radio

> driven primarily by pure greed and wishful thinking.

What's wrong about greed? Why not channel it to create a better world?

For every trade, both "greedy" sides see themselves better off, otherwise there would be no trade. This increases the quality of life for everyone.

I didn’t realize we had any Ferengi on Hacker News. You’re ignoring his point that it doesn’t justify the waste and damage that’s being done.

How much waste and damage is being done by the banking data centers and associates globally?

Care to take a guess where that damage stands?

Yes, someone else is doing something morally reprehensible, so it clears my morally reprehensible behaviour too. Now you're sounding like a Ferengi Putin.

This isn't a whataboutism...we are literally comparing apples to apples.

How much impact does the banking institution makes vs how much crypto makes. Comparison is not a novel concept and is quite literally part of the scientific method.

It's almost like you are intentionally sowing seeds of misinformation and distrust to redirect...or you just like throwing stones from glass houses.

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