Re:Bye-bye, Bitcoin: It's time to ban cryptocurrencies
by skytreader on Monday July 26, 2021 @03:11PM
(#27963909)
Pretty please be satire because that flew over my head the first time and I'm still not really sure if you are sarcastic or serious. What an exemplar of the cultish enthusiasm and logical inconsistencies I consistently get from crypto enthusiasts, which is exactly why I'm wary of the whole thing.
Re:Bye-bye, Bitcoin: It's time to ban cryptocurrencies
by soco on Monday July 26, 2021 @03:30PM
(#27964204)
That comment is genius: "When your sarcasm is so advanced that people actually think you're stupid". I saved it just in case.
Re:Bye-bye, Bitcoin: It's time to ban cryptocurrencies
by Jasper_ on Monday July 26, 2021 @03:03PM
(#27963781)
You seem like someone very "plugged in" (ha!) to the cryptocurrency world, so I have to ask: what's the best kind of epoxy to fill my ethernet ports with?
Re:Bye-bye, Bitcoin: It's time to ban cryptocurrencies
by rspeele on Monday July 26, 2021 @03:15PM
(#27963984)
I don't know, but I'll sell you a synthetic asset that mimics epoxy brands, tracking their prices using an oracle[0]. Instead of buying, say, a tube of JB Weld, you can buy 2 $JBW[1] and take out an overcollateralized loan to get the cash to buy your 1 tube of actual epoxy. Because cryptos go up, your $JBW collateral will probably have doubled in value by the time you need to pay back the loan, making the purchase completely free. This technique can be used to end poverty worldwide.
[0] website
[1] $JBW tokens are not redeemable for epoxy. However, I pinky promise that every time you buy one, I buy a tube of actual epoxy and throw it in the garbage, creating value that your token represents.
I know you said no loans, but I can't skip mentioning DeFi which enables anybody to borrow their own money from themselves, anytime, fully electronically and without centralization.
Then you have smart contracts, which are like a computer, but on everybody's computer at the same time. You can write full programs with complexity nearing that of FizzBuzz and run them worldwide for only hundreds of dollars.
Just imagine a world without crypto. It would be like a world without hackysack, or a world without mail order swords on the shopping channel. Unrecognizable and primitive.