Re: [Cryptography] Krugman blockchain currency skepticism
On Tue, Jul 31, 2018 at 7:05 AM, William Allen Simpson <william.allen.simpson@gmail.com> wrote:
Krugman has a column today that's saying some things that have already been posted here. Hopefully will gain traction.
https://www.nytimes.com/2018/07/31/opinion/transaction-costs-and-tethers-why...
Hopefully not. "Why would you want to do [cryptocurrency]? What problem does it solve? I have yet to see a clear answer to that question. ... So that’s why I’m a crypto skeptic. Could I be wrong? Of course. But if you want to argue that I’m wrong, please answer the question, what problem does cryptocurrency solve? Don’t just try to shout down the skeptics with a mixture of technobabble and libertarian derp." Krugman article wouldn't stand a chance at any OG "libertarian" cryptocurrency conference. Because that's the very 'derp' behind cryptocurrency... the element needed to understand it. Freedom isn't derp. Anyone could tear that article apart, but you would censor it, so what's your point of even approving it here for comment? Propaganda Anti? Downplaying decentralized cryptocurrency to any cryptos here who might otherwise want to work on it?
You wrote "eight years". Could you correct that, too?
Good point, nine years is closer to the ten year mark where cryptocurrrency's unstoppability and fundamental qualities begin to accelerate.global capitulation towards it.
http://www.metzdowd.com/pipermail/cryptography/2018-February/033917.html
https://www.youtube.com/watch?v=tQQFA9YXCZ0 ;) https://www.youtube.com/results?search_query=bitcoin+documentary What's in your wallet? [bcc cypherpunks]
On Tue, 31 Jul 2018 17:33:03 -0400 grarpamp <grarpamp@gmail.com> wrote:
On Tue, Jul 31, 2018 at 7:05 AM, William Allen Simpson <william.allen.simpson@gmail.com> wrote:
Krugman has a column today that's saying some things that have already been posted here. Hopefully will gain traction.
https://www.nytimes.com/2018/07/31/opinion/transaction-costs-and-tethers-why...
Hopefully not.
libertarian derp."
Anyone could tear that article apart, but you would censor it, so what's your point of even approving it here for comment?
is metzger himself the little king by divine right of the 'cryptography' mailing list?
is metzger himself the little king by divine right of the 'cryptography' mailing list?
And your ideas as to the validity and value of well curated strictly on topic lists / charters? Particularly when... unless of course already in a censored environment / network regime, say China GFW, where it's harder to internet... anyone can still more or less freely as in free speech start and run their own list anywhere, ranging from open to closed..
Anyone could tear that article apart, but you would censor it, so what's your point of even approving it here for comment?
http://www.metzdowd.com/pipermail/cryptography/2008-November/014824.html Krugman... not a single cryptography tech protocol thing in it... pure money politics. Mods approving such threads / posts that are said to be against rules, while censoring rebuttals thusly solicited by same approvals... lol. Apparently that was becoming hard to sustain under the sunlight.
On Sun, 5 Aug 2018 01:08:44 -0400 grarpamp <grarpamp@gmail.com> wrote:
is metzger himself the little king by divine right of the 'cryptography' mailing list?
And your ideas as to the validity and value of well curated strictly on topic lists / charters?
what - are you retarded or what - can't you at least avoid the newspeak? moderated = censored well curated = well censored since when are you a fake libertarian? You used to be an apolitical torbot, now you are an anti-free speech asshole?
Particularly when... unless of course already in a censored environment / network regime, say China GFW, where it's harder to internet... anyone can still more or less freely as in free speech start and run their own list anywhere, ranging from open to closed..
what - the fuck are you rambling about. you do not know what free speech means.
Again, your ideas and lists?
makes it easier for perpetrators of ransomware to get paid without getting caught. ;-) expecting an answer that had a positive societal benefit, were you? Because I can't think of one.
Spending infracoin, onboarding outside the box into infosec, accomplishing general education... (of course you were "secure" before those "bad dudes" came along and scuttled those glossy inflated reports...) sounds like a fine positive benefit and byproduct, after all, can't claim those things weren't needed beforehand. Now that vector is closed against more sinister ventures. And hey, it's glossy all over again, kudos bitcoin ;-) What of when ransom and prediction markets enable and force disclosure of some other society things, say cancer cause / cure coverups, corp/gov corruption, mkultra, govt murder, war. Kudos again. Cryptocurrency is cash is agnostic tool, use it at will.
the transaction cost of crypto-currencies is much higher than the transaction cost of credit cards or cash.
The hidden costs and cost layers involved with those two are monumentally higher. That inefficiency and taxing needs to be driven out of the market for good.
unlike gold, if Bitcoin's value dropped to zero, the Bitcoins would disappear.
No. If either were disadopted to zero, it'd be slowly rendered down, one back to dust, one back to bits... neither being cared about.
What happens, exactly, when you want to move those wads of cash or piles of ingots across borders?
https://www.youtube.com/watch?v=kWp6hZ-5ndc
the future is in individually issued real bills of exchange
Was done for hundreds of years until the govt's and banks floated everything and banned them for their and friends gain
pegging
Decentralized cryptocurrencies are not pegged or peggable, they are the pegs. This is intentional. 21M to represent the planet's entire voluntarily assignable networth and economy, pretty kinky huh.
crypto currencies are currently too volatile for savings
Take 1 BTC... all the fiats are highly volatile and have been dropping long term in comparison over any 1y or longer period since genesis... "only morons would ever invest, save, or use and transact with"... fiat.
Basically, there is no intrinsic value for a Bitcoin.
Or any fiat, product, shiny metal, rock, dirt, water, air... except that for which people choose to use it for. As long as it's holdable, transferable, nonprintable... any of the common properties... it will be found an eligible choice.
It is purely what people want to pay for it, and if too few people wanted to buy it the value could drop to zero,
People have an innate desire to not accept less value, therefore their entry and last prices are self supporting, and with no real print inflation, demand pressure from growing adoption float creates natural uptrend, and markets once established hardly shrink, so it's steps to the moon until adoption naturally levels off for good decades from now.
because it is not tethered to anything.
Blah blah blah... turtles all the way down. All these things are well explained... https://www.youtube.com/results?search_query=bitcoin+documentary And simple Fermi Problem says there's at least another 100x out there that cryptocurrency will absorb before steady state is reached... What's in your wallet?
participants (2)
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grarpamp -
juan