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Re:Cryptocurrencies add nothing useful to society, says chip... by hermitcrab on Sunday March 26, 2023 @03:10PM (#35318298)
What were the 1.5 useful application - buying illegal stuff and money laundering?
Re:Cryptocurrencies add nothing useful to society, says chip... by phonescreen_man on Sunday March 26, 2023 @03:37PM (#35318643)
Steem monsters was great for a time. I think it still exists on the hive network.
Re:Cryptocurrencies add nothing useful to society, says chip... by cs02rm0 on Sunday March 26, 2023 @03:33PM (#35318602)
Getting out of Russia.
Re:Cryptocurrencies add nothing useful to society, says chip... by hermitcrab on Sunday March 26, 2023 @04:17PM (#35319083)
Good for you. But it seems that cryto is a zero sum game. Every dollar one person makes, another person loses.
Re:Cryptocurrencies add nothing useful to society, says chip... by rkho on Sunday March 26, 2023 @04:25PM (#35319181)
I have some exciting news to share with you about our traditional financial markets.
Re:Cryptocurrencies add nothing useful to society, says chip... by unvx-n-banned on Sunday March 26, 2023 @04:27PM (#35319194)
Bitcoin is trading at 28k. When the dollar is endlessly printed, all you need to do is not sell your bitcoin and eventually you'll come out ahead. Because the dollar supply is infinite, it is not zero-sum.
Re:Cryptocurrencies add nothing useful to society, says chip... by jboy55 on Sunday March 26, 2023 @04:46PM (#35319402)
If bitcoin was the only crypto, maybe, but there is an infinite number of possible crypto coins.
Re:Cryptocurrencies add nothing useful to society, says chip... by menzoic on Sunday March 26, 2023 @05:07PM (#35319628)
Why is that relevant? Anyone can create crap. That doesn't change the tech.
Re:Cryptocurrencies add nothing useful to society, says chip... by unvx-n-banned on Sunday March 26, 2023 @07:38PM (#35320930)
Bitcoin is smarter than anything you've invented
Re:Cryptocurrencies add nothing useful to society, says chip... by sowbug on Sunday March 26, 2023 @06:04PM (#35320124)
An infinite number of Facebook clones, too.
Re:Cryptocurrencies add nothing useful to society, says chip... by unvx-n-banned on Sunday March 26, 2023 @08:14PM (#35321219)
There's an infinite number of fiat currencies. There's a dozen different precious metals. What's your point?
Re:Cryptocurrencies add nothing useful to society, says chip... by jboy55 on Monday March 27, 2023 @02:25PM (#35330339)
The point is only valid when you are going to make a case for "crypto" on Bitcoin's finite supply.
Re:Cryptocurrencies add nothing useful to society, says chip... by codedokode on Sunday March 26, 2023 @04:58PM (#35319546)
This is an interesting observation. Governments officially support inflation, i.e. stealing your hard earned money (as stealing money seem to be better for economy) and you cannot do anything with it.
Re:Cryptocurrencies add nothing useful to society, says chip... by this_user on Sunday March 26, 2023 @03:14PM (#35318350)
There is also ransomware.
Re:Cryptocurrencies add nothing useful to society, says chip... by rcxdude on Sunday March 26, 2023 @03:19PM (#35318420)
That basically falls under money laundering
Re:Cryptocurrencies add nothing useful to society, says chip... by hermitcrab on Sunday March 26, 2023 @04:15PM (#35319057)
Enabling ransomware is 'useful'? To criminals perhaps.
Re:Cryptocurrencies add nothing useful to society, says chip... by codedokode on Sunday March 26, 2023 @04:53PM (#35319467)
But in America some of that illegal stuff became legal now.