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by SwimSwimHungry 1867 days ago
Over 10 years in and it's still "early days" for crypto? When do you think this entire thing is considered mature?

I'm very much a crypto skeptic, mostly because I see a lot more harm than good that comes out of the space (ransomware enablement, horrendous waste of energy on PoW coins, egoists that make up the majority of the community, etc)

1 comments

I mean internet has changed very significantly in the last 30 years, or even in the last 5 years.

Personally, I will say it's mature enough when Bitcoin is the world reserve currency (crazy, I know!) and defi fulfills majority if not all of my financial transactions/operations, etc.

I look at ransomware as a positive, finally a forcing function for companies to take security seriously. Energy, it's pushing us towards greener energy sources and there are less energy intensive alternatives being developed.

> "it's pushing us towards greener energy"

It definitely isn't, unless you count anything that uses power as pushing towards green energy which makes no sense.

The only way to incentivize different forms of energy production is by making them more profitable, which has nothing to do with what that power is used for.

> I mean internet has changed very significantly in the last 30 years, or even in the last 5 years.

Has it?

I think the biggest inflection point in the last 15 years has been the prevalence of smart phones and mobile connectivity, otherwise most of what we do on the Internet today was already happening in the 90s, it's just more prevalent now.

>>I look at ransomware as a positive, finally a forcing function for companies to take security seriously. Energy, it's pushing us towards greener energy sources and there are less energy intensive alternatives being developed.

I keep hearing this "green energy" being pushed harder by proponents of cryptocurrency and I find this rather disingenuous. We are already pushing towards this goal, crypto or not, but unlike a world blissfully free of this long con, green energy will not be appropriately allocated to areas of greater need, like infrastructure, housing, schools, hospitals, etc.

Plus, a true capitalist that wants the maximum value will go for the cheapest and easiest source of electricity. Coal fired and gas via fracking will still be easier to pursue for increased bang for buck. I think you assume the cryptocurrency community has the best interests of everyone else and the planet at heart.

Let's not forget that cryptocurrency miners and stakeholders are not shy from leeching off other countries that may offer subsidized electricity, sometimes even causing blackouts for those that need the electricity the most. Seems very parasitic.

Just my two cents.