Cryptocurrencies add nothing useful to society, says chip-maker Nvidia

Re:Cryptocurrencies add nothing useful to society, says chip... by everfree on Sunday March 26, 2023 @06:08PM (#35320151)

I wasn't referring to the demand for units of cryptocurrency on particular networks. I was referring to actual industry, i.e. the companies that are researching, improving, and selling the technology itself.

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Re:Cryptocurrencies add nothing useful to society, says chip... by permo-w on Sunday March 26, 2023 @07:18PM (#35320784)

the industry is a result of the demand

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Re:Cryptocurrencies add nothing useful to society, says chip... by everfree on Sunday March 26, 2023 @07:28PM (#35320866)

Well, China's ban didn't negatively affect global demand enough that any relevant companies closed up shop. Just reporting to you what happened.

Most of these blockchain R&D companies (and their investors) are still in the bootstrapping phase anyways. They're looking ahead 3+ years before they expect their product to go parabolic, so the actions of one or two governments in the mean time is just noise.

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Re:Cryptocurrencies add nothing useful to society, says chip... by permo-w on Sunday March 26, 2023 @07:52PM (#35321035)

if I wasn’t already convinced that crypto is a bad investment, I am now

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Re:Cryptocurrencies add nothing useful to society, says chip... by everfree on Sunday March 26, 2023 @07:55PM (#35321071)

I honestly don’t see how that follows from what I said. I would be curious to hear your reasoning.

Unless you mistakenly thought that the crypto industry has been built on solid foundational end-user demand for products this whole time.

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