Blockchain is Dangerous Nonsense

eh...it has its purpose so I don't outright dismiss the tech. What if I want an open source EV (ownership) in the future connected to the internet to have blockchain open my door or start my car? Sure I could go the tesla route & pay for the feature but then I'm stuck w/whatever they want to charge.

Decentralization isn't inherently bad, think of open source software or maybe a closer analogue, think of what bittorrent did for data sharing. Yes, I get that it can also be used nefariously. FWIW: "silicon valley" sitcom sat around a premise of a "pied piper" startup focused on decentralized/encrypted data storage.

https://en.wikipedia.org/wiki/BitTorrent
https://cointelegraph.com/news/what-is-decentralized-storage-and-how-does-it-work

PS: I personally hate that our privacy is being commodified (ramped up w/Patriot Act) so don't want to make it easier for gov's/comps across the globe to monitor what I do and then have to pay some multicorp to regain some of those privacies back (VPN, data broker list removal services, identity theft monitoring, net neutrality, targeted ad reversals, better non-ad browsers, etc...)
 
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Cuddles said:
eh...it has its purpose so I don't outright dismiss the tech. What if I want an open source EV (ownership) in the future connected to the internet to have blockchain open my door or start my car? Sure I could go the tesla route & pay for the feature but then I'm stuck w/whatever they want to charge.

Decentralization isn't inherently bad, think of open source software or maybe a closer analogue, think of what bittorrent did for data sharing. Yes, I get that it can also be used nefariously. FWIW: "silicon valley" sitcom sat around a premise of a "pied piper" startup focused on decentralized/encrypted data storage.

https://en.wikipedia.org/wiki/BitTorrent
https://cointelegraph.com/news/what-is-decentralized-storage-and-how-does-it-work

PS: I personally hate that our privacy is being commodified (ramped up w/Patriot Act) so don't want to make it easier for gov's/comps across the globe to monitor what I do and then have to pay some multicorp to regain some of those privacies back (VPN, data broker list removal services, identity theft monitoring, net neutrality, targeted ad reversals, better non-ad browsers, etc...)
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Great post!
 
I don’t understand the people who bash BTC. I would understand if they said they weren’t interested, but the effort put into the OP and the follow comments is substantial. There are a few things that come to mind when I read posts like this.

1. You’ve been wrong about it so far and you’re trying to tear it down so you can say you were actually right

2. You think that the money that crypto has attracted should have been invested in the stock market. Maybe this could’ve improved your traditional investment portfolio. (The S&P would be higher if those funds had been invested there, forming a different bubble…)

3. You’re begging someone to convince you you’re wrong because you have FOMO but just can’t pull the trigger.

I doubt you’re putting so much effort into this for my benefit. If I truly believed that BTC was a dumb investment I wouldn’t waste my time debating. I’d move on with looking for good opportunities. Wasted time is wasted money.
 
johnarb said:
Bitcoin will demonetize everything, eventually

Bitcoin is the best money in the history of mankind and everyone in the world was given a chance to adopt it before the elites

ET nocoiners have too much ego to accept they missed it and choose to continue to miss it

It is not uncommon


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The best money in the history? Do you really believe that?

I ask Rajat Soni on twitter: what is the intrinsic value of Bitcoin? I'm still waiting for an answer. I just read and hear the same hype of every day. Besides speculation and other dark sh... , what is it good for? What is it used for?

It's slow, unsecured, on a gigantic bubble now, based on a code written by humans AND in a dire situation of war, no electricity...etc How would you use it?

I'm sure that nobody with common sense would put fresh real money into this gigantic future disaster. Perhaps not the old whales, because that money was created by a bubble.
 
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pstrusi said:
It's slow, unsecured, on a gigantic bubble now, based on a code written by humans AND in a dire situation of war, no electricity...etc How would you use it?
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The same could be said of gold.
Gold has been traded for thousands of years, what is it good for other than vanity?
In times of war, wtf will gold do to save you? Don't say; "to sell it".
Is gold a store of value? It's totally useless other than what humans mentally value it at based on their immediate emotions.
Is gold a bubble? Yep, it's been hyped for years from bible times when they banged on about it and cultist believers believed.
Crypto has its uses, it will never replace old fashioned fiat money, but crypto is a niche which serves a purpose.
From my point of view, crypto is an excellent trading vehicle, no annual reports, no lying directors, no company fundamentals being manipulated, so no surprises.
All it takes is knowing how to trade. Very simple yet very complex for many.
One can win (or lose) money very quickly.
I love it!
 
themickey said:
The same could be said of gold.
Gold has been traded for thousands of years, what is it good for other than vanity?
In times of war, wtf will gold do to save you? Don't say; "to sell it".
Is gold a store of value? It's totally useless other than what humans mentally value it at based on their immediate emotions.
Is gold a bubble? Yep, it's been hyped for years from bible times when they banged on about it and cultist believers believed.
Crypto has its uses, it will never replace old fashioned fiat money, but crypto is a niche which serves a purpose.
From my point of view, crypto is an excellent trading vehicle, no annual reports, no lying directors, no company fundamentals being manipulated, so no surprises.
All it takes is knowing how to trade. Very simple yet very complex for many.
One can win (or lose) money very quickly.
I love it!
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Gold is needed by the Anunnaki for atmosphere protection on their home planet Nibiru
 
One of the selling points of bitcoin is that it is digital gold.
Where gold outshines bitcoin is that it has other uses and to my way of thinking is more secure.
Gold is shiny and can be used for jewelry.
You don't need the internet to transact in gold.
Gold has industrial uses such as in electronics.
Although bitcoin is easier to move around I prefer something I can hold in my hand.
Although the government can't control Bitcoin, how likely is it that they could control the internet or the internet providers.
What about some virus that infects the blockchain.
When the shit hits the fan and I'm running for my life, I think I'd prefer to have a pocket full of gold coins than my cold wallet.
Refer to Murphy's Law.
 
pstrusi said:
The best money in the history? Do you really believe that?
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Yes, Bitcoin is the best money in the history of mankind, past present and in the future

Absolute provable digital scarcity backed by the most powerful computing network that is still growing

600 million trillion hashes per second of computing power secures the Bitcoin monetary network

Even if you combine all of the data centers of Google, Facebook, Amazon, Microsoft, Apple and all the data centers in world, they will not add to anywhere close to that computing network
 
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