Re:Why I have zero faith in crypto venture capitalists
by danuker on Sunday June 13, 2021 @12:34PM
(#27493962)
Admittedly, there is high volatility due to demand. But as more get-rich-quick people get bored of it, that should stabilize.
[ Parent
| on HN ]
Re:Why I have zero faith in crypto venture capitalists
by crispyambulance on Sunday June 13, 2021 @01:05PM
(#27494208)
> But as more get-rich-quick people get bored of it, that should stabilize.
Why do you think that will happen?
The "get-rich-quick, evade-taxes, and evade-scrutiny" thing is front and center of the whole intent of cryptocurrency. How long has it been going now, 10 years? How much longer?
It would be nice to have a crypto-currency where real people can use it like real currency. However, to be able to do that would mean eliminating the danger that a mere typo or some unintended consequence of "code-as-law" would wipe someone out and give another an insane windfall-- all in a millisecond.
I think the cryptocurrency can work, but it has to have sane and civilized features. These have to be designed-in from the beginning. Otherwise, it's just an endless libertarian circle jerk.