Re:Half of ICOs Die Within Four Months After Token Sales Fin...
by CryptoPunk on Tuesday July 17, 2018 @06:47AM
(#17548687)
>>I agree some governments do bad things and would also like less of that. I just don't think Bitcoin solves any of those problems. China may indeed be turning into a digital surveillance state, but that makes digital currencies like Bitcoin ineffective given that they depend on a free and open internet.
China can't stop people in its borders from using cryptocurrency. Neither can Venezuela, where it is currently helping at least some people survive. Electronically transmittable information is just too hard to contain, even without an open internet.
With the greater utility that comes from a larger userbase and greater liquidity, and technological upgrades like better scalability, it's easy to imagine cryptocurrency helping a lot of people, who are currently repressed by major institutions like governments, protect and increase their wealth, leading to a free-er and more prosperous world.
>>My main problem with the Bitcoin promoters is that the only thing they have is theoretical, imagined, conceptual utility.
There are other, better cryptocurrencies than Bitcoin. But I do agree that much of the utility of cryptocurrency is imagined and theoretical.
>>Selling the dream was fine 10 years ago. But at this point the reality is pretty clear.
Cryptocurrency was a totally new paradigm when Bitcoin launched 9 years ago. It needs more time to be developed and tested before a verdict can be passed about the technology's inherent utility.
China can't stop people in its borders from using cryptocurrency. Neither can Venezuela, where it is currently helping at least some people survive. Electronically transmittable information is just too hard to contain, even without an open internet.
With the greater utility that comes from a larger userbase and greater liquidity, and technological upgrades like better scalability, it's easy to imagine cryptocurrency helping a lot of people, who are currently repressed by major institutions like governments, protect and increase their wealth, leading to a free-er and more prosperous world.
>>My main problem with the Bitcoin promoters is that the only thing they have is theoretical, imagined, conceptual utility.
There are other, better cryptocurrencies than Bitcoin. But I do agree that much of the utility of cryptocurrency is imagined and theoretical.
>>Selling the dream was fine 10 years ago. But at this point the reality is pretty clear.
Cryptocurrency was a totally new paradigm when Bitcoin launched 9 years ago. It needs more time to be developed and tested before a verdict can be passed about the technology's inherent utility.