The incessant snide comments expressing nothing but dislike for Bitcoin really don’t belong on HN. Not liking Bitcoin is fine, but if you don’t have anything to add just don’t comment. Every thread about Bitcoin on HN does not a dozen comments that it’s a waste of time and energy.
It's really pretty ridiculous and frustrating. I come here for intelligent discussion, and I agree it's okay if people don't like Bitcoin, but at least take some time to learn about it if you're going to argue. It's straight up denial at this point, because Bitcoin, Ethereum, and DeFi are securing and transacting billions of dollars every single day. It's not a question of if it works at this point, it does work! An decentralized overlay financial system has successfully been bootstrapped on top of legacy infrastructure. If you don't understand how big of a moment this is for humanity you must have your head in the sand.
I'd like to also bring up the Helium Network which is an entirely novel use of blockchain technology where Proof-of-work is done by being a LongFi transmitter and having other transmitters check each other's signals as a way to verify that it's actually up and working. Miners literally make money by running LongFi cell towers from their house. It's currently bootstrapping a LongFi cell network world wide and is already prolific in every major american city. If this technology could be applied to power generation or even cell service we could have a real decentralized network with no companies in charge.
“How corrupt and two-faced is one who claims, 'I intend to be fair and honest in my dealings with you.' What are you up to, my friend? There is really no need for this preamble. The matter will soon become plain. It should be written on your face, it should ring out immediately in your voice, and shine out at once in your eyes, as the loved one at once knows everything about his lovers from the manner of their glance. In short, a good and honest person should resemble one who smells like a goat in this respect, that anyone who comes near him is immediately aware of it whether he wishes it or not. But the mere pretence of simplicity is like an open blade. There is nothing more odious than the friendship of the wolf for the lamb; avoid this above all. A good, straightforward, and kindly person reveals these qualities in his eyes, and they will not escape you.” —Marcus Aurelius
>snide comments expressing nothing but dislike
That's because people who know a thing or two about economics ánd computer science know that all you're doing is pumping your bags. The only thing bitcon incentivizes is greed, making the rich even richer. Crypto“currencies” are pyramid slash Ponzi schemes hiding behind a veneer of sophistication. https://cynicusrex.com/file/cryptocultscience.html.
Thank you! I come to HN to have intelligent discussion as well, and I totally agree. If I go to Reddit it's mostly just a bunch of garbage, even with crypto fans. I do think HN is warming up to crypto, a little bit, at least, or maybe it's just that more crypto fans are speaking up here.
Anyway, like you said, crypto is already working. The network effects are real.
Also, PoW does require a lot of energy, which is a common argument, but this is energy that includes audits, transport and security of the system. For Bitcoin, that's currently over $1 trillion, which to me seems like it is worth securing.
There also do seem to be ways to use excess energy for PoW and make it more green, which seems promising. The energy can be captured anywhere on the planet and used to support the global Bitcoin network from wherever the energy is. There is so much potential in this network.
“When the Church of Scientology announces that they’ve been thinking about solar panels, why does everyone have to rush to mention that it’s a cult? Can’t we just give them credit for these good intentions and forget everything they’ve actually done?”
(Celebrity endorsements, non-functional technology, libertarian fantasies of escaping the tax man — L. Ron Hubbard would have loved Bitcoin.)
