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comment by kleinbl00
kleinbl00  ·  2514 days ago  ·  link  ·    ·  parent  ·  post: Musings on Cryptocurrency - an invitation to ruminate

No, not like that. The discussion is not "you guys are polluting my internetz with your triviality" it's "Just because you can buy a GSXR does not mean you should see how fast you can take the Angeles Crest." Or worse, "just because you can walk through a dark alley with fistfuls of cash doesn't mean you should."

OftenBen's argument is "people are stupid, let them eat shit." My argument is that "protections exist for stupid people and a lot of them are going to get hurt." It's not far from this:

Really, though, that's a subsection of a larger discussion about where the "top" would be, if we could try and figure out the top. I don't think we can. In the meantime though there's now real money piling in which increases the target richness in the ecosystem. The statement that sent OB down the hate spiral:

    People think they understand the Internet. My beef is they have no interest in understanding crypto, but they're all eager to buy some.

They don't understand the Internet either. You know that, I know that, we all know that. But "the Internet" has a lot more protections and familiarity than cryptocurrency does.

I transferred 50 ETH yesterday. That used to be cute. That used to be, like, $35. You copy-paste a number like

0xC2D7CF95645D33006175B78989035C7c9061d3F9

And you copy paste a number like

3a1076bf45ab87712ad64ccb3b10217737f7faacbf2872e88fdd9a537d8fe266

And you hit go

And you hope to shit it's right

And in 30 seconds or so the money goes from one place to another. $35! Super-awesome! 30 seconds! Future of the Internet!

Except it's not $35, it's a goddamn Mercedes E-class that you could lose because of a typo and you can cry to whoever you want, the blockchain don't care.

And right now we're all fuckin' around trading in exchanges and maybe that's the future but the kind of naked risk you're exposed to with this shit is something we haven't seen since we chased the brigands off the turnpike.





goobster  ·  2514 days ago  ·  link  ·  

Man, my one comment I have ever made - or will ever make - on any crypto currency, and I got it wrong. Sheesh.