Comment by codetrotter | Hacker News Reader

Comment by codetrotter | Hacker News Reader

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Money of account (debits and credits on ledgers) have existed for 30,000 years

https://en.wikipedia.org/wiki/History_of_money

But a system that takes the concept of ledgers, and makes it tied to pseudonymous addresses instead of persons, is distributed across the world, resilient to tampering, and which gives its users control over their money, and which has been in use for 15 years is

1. “Not innovative”, and

2. That in the span of 30,000 years that 15 years is enough time to really tell if this is something that will survive or if it’s just a dumb idea that will die out.

I think that Bitcoin is a wonderful system, and I think that more people should take time to study Bitcoin in detail. Do not let the crypto bros and the people that only care about measuring Bitcoin in dollars distract you from the real point of Bitcoin.

> But a system that takes the concept of ledgers, and makes it tied to pseudonymous addresses instead of persons, is distributed across the world, resilient to tampering (...) is 1. “Not innovative”

Well, it is innovative, in the same sense a jet engine is. What you don't do with jet engines is using them to keep static structures in the air indefinitely. You use steel beams or concrete for that.

Crypto tech as cash alternative is pretty much jet engine as a steel tower alternative.

That's a fantastic analogy for how incredibly wasteful Bitcoin & similar cryptocurrencies are just to maintain a steady state!

Beer has been a thing for ~5,000 years but we've only had beer hats for the last 28. Our society could benefit from extensive investment into ongoing research and development of beer hat related industries, as we clearly haven't had enough time to determine if they're bullshit novelty garments.

Beer hats are both funny, and in some cases practical.

I don't personally own any beer hats. But I see how they are useful at a baseball game for example.

Thanks for reminding me that beer hats exist. Now, if only I can find a store that sells beerhats for BTC :thinking_face:

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