News for hackers. Stuff that matters.
Re:Bitcoin climbs to $10k by seibelj on Saturday June 22, 2019 @08:28AM (#20249243)
Are you against any asset where visionaries got in early? VCs and wealthy investors reap the vast majority of rewards when companies like Uber go public, and let the retail investors hold the bag. I don’t see much of a moral difference.
Re:Bitcoin climbs to $10k by loceng on Saturday June 22, 2019 @08:45AM (#20249318)
I'm not sure if you're purposefully trying to conflate legitimate stock market companies with the likes of Bernard Madoff Ponzi Scheme et al?

And are you trying to argue the VC industrial complex is the best and/or only method of developing large, useful organizations who develop products and services?

Re:Bitcoin climbs to $10k by thomasz on Saturday June 22, 2019 @08:33AM (#20249266)
Uber is a company that provides a highly useful service. Bitcoin is just a decentralized long con.
Re:Bitcoin climbs to $10k by seibelj on Saturday June 22, 2019 @08:41AM (#20249303)
You can make an argument against the asset itself and it’s utility. But parent was arguing that the fact early adopters captured a majority of the gains makes Bitcoin evil doesn’t make sense to me. I’m happy that crypto nerds won this time over the usual suspects of VCs, family funds, etc.
Re:Bitcoin climbs to $10k by loceng on Saturday June 22, 2019 @08:46AM (#20249324)
What value has Bitcoin et al brought anyone other than earning them "profit" because they were earlier in the Pyramid-Ponzi scheme - or at a low point before price went up and sold before the bubble(s) popped?
Re:Bitcoin climbs to $10k by seba_dos1 on Saturday June 22, 2019 @08:56AM (#20249365)
Ok, I'm not a huge fan of the crypto craze, but ignoring providing a solution to the problem of trust in decentralized networks and implementing a working payment network on top of that is just a blatant ignorance.

The solution is massively unelegant and unlikely to be worth so much long-term as markets are predicting now, but it definitely does provide some tangible value and it's pretty stupid to imply otherwise.

Re:Bitcoin climbs to $10k by loceng on Saturday June 22, 2019 @11:34AM (#20250130)
Simply asking for what value has Bitcoin et al provided isn't the same as a statement that states it doesn't cover some areas of value, however pros existing doesn't necessarily negate the cons - doesn't mean there's a net benefit to them existing. Ignoring that a solution for 'trust in decentralized networks' can't be solved in other ways, like normal real-life trust networks, where people make a decision of who they trust for this vs. having "blind trust" is in fact blatant ignorance.
Re:Bitcoin climbs to $10k by roboys on Saturday June 22, 2019 @08:56AM (#20249363)
This ponzi has better rules than the ponzi your government created for you by default. It is as simple as that.
Re:Bitcoin climbs to $10k by loceng on Saturday June 22, 2019 @11:54AM (#20250228)
Very easy to argue that's not the case.
Re:Bitcoin climbs to $10k by loceng on Saturday June 22, 2019 @08:50AM (#20249339)
Albeit Uber is overvalued for the service they provide, and their play is one of the VC industrial complex to ramp up to high value as quickly as possible in the eyes of the financial markets (large money pool controllers) to get on stock market at unreasonable valuation, exit some early investors/founders and provide a fun lifestyle for themselves during the process - offloading risk to general public, society via the IPO etc.