The blockchain/cryptocurrency space is mostly fraudulent

Re:The blockchain/cryptocurrency space is mostly fraudulent by wyldfire on Monday November 09, 2020 @02:04PM (#25038377)

> very damaging to the environment

That's not accurate: not all cryptocoins are secured by an ever-escalating proof-of-work.

[ Parent | on HN ]

Re:The blockchain/cryptocurrency space is mostly fraudulent by criddell on Monday November 09, 2020 @02:38PM (#25038884)

Is it true by market value? Bitcoin itself is worth something like $200 billion. What's the biggest counter-example?

[ Parent | on HN ]

Re:The blockchain/cryptocurrency space is mostly fraudulent by wmf on Monday November 09, 2020 @02:48PM (#25039049)

I guess Ripple (XRP) is the biggest non-PoW blockchain at $11B. Ripple is also mired in criticisms of every kind.

[ Parent | on HN ]

Re:The blockchain/cryptocurrency space is mostly fraudulent by YetAnotherNick on Monday November 09, 2020 @02:11PM (#25038489)

proof-of-work is supported by value of cryptocurrency, and does not something of inherent value. Contrast this with stocks, for which trading value depends on technical analysis and is slightly random, but in the end it is supported by some concrete thing.

[ Parent | on HN ]

Re:The blockchain/cryptocurrency space is mostly fraudulent by bitxbitxbitcoin on Monday November 09, 2020 @02:19PM (#25038615)

Proof of work provides the man hours equivalent of security for the cryptocurrency, much the way that a standing military provides the man hours equivalent of security for a centralized national currency.

[ Parent | on HN ]

Re:The blockchain/cryptocurrency space is mostly fraudulent by worik on Monday November 09, 2020 @02:39PM (#25038899)

No, value of stocks is independent of "technical analysis".

TA does not work, except in special circumstances, and then only until the "secret" is revealed.

[ Parent | on HN ]