[trevyn]

I think he missed the part where the crypto infrastructure is aggressively based on open-source, abundance, post-scarcity, universal access, and equality.

The current "assets" that are traded are indeed meaningless, as is most of what people buy with money beyond food and basic shelter. This is what initial post-scarcity looks like: people being ridiculous with assets because they realize that assets themselves are ridiculous, because post-scarcity.

We're in a transition period, a lot of old structures don't work anymore. We're just starting to rebuild critical functions using new ways of thinking. One of my favorite examples: https://cryptoforthehomeless.org/

[AlexandrB]

> https://cryptoforthehomeless.org/

This seems like a well-intentioned project, but I have to ask: Why is crypto helpful, or even necessary here? Why not just use normal money?

[trevyn]

Because there exist people who will donate crypto but not "normal money".

Same reason why there are charities that accept cars, canned food, christmas trees, etc.

[AnIdiotOnTheNet]

That kinda just reinforces the point though that all of this cryptononsense is a scam. Sure, here's a group exploiting Bitcoin Iditiots LLC for a good cause, but they're still exploiting.

[trevyn]

It's completely orthogonal to whatever you believe about crypto.

[AnIdiotOnTheNet]

The preface to your link was:

> We're just starting to rebuild critical functions using new ways of thinking. One of my favorite examples:

Which I think any rational person would take to mean that you believe the linked project was enabled to do something revolutionary[0] by the technology of cryptocurrencies. But that isn't what the project does. The technology of cryptocurrencies is irrelevant to what they do, it's the hype they're taking advantage of.

[0] "new ways of thinking".

[pphysch]

Broadly speaking, people are not buying crypto assets "for the lulz" because they have too much darn money lying around, they are buying them on the speculation that they will appreciate--like Bitcoin--and can be dumped at a profit.

[trevyn]

This is exactly the key insight in a post-scarcity environment, though: Beyond food and basic shelter, everything is lulz.

A lot of people didn't grow up in that environment of abundance, so they still think that "profit" is serious business and not lulz, but then they use that profit for big houses or yachts or children or other lulz anyway.

[pphysch]

Is it lulz, or is it a desperate attempt to find a financial/economic foothold when traditional footholds (bearable careers, houses, etc.) are increasingly out of reach for Millennials and onward?

[trevyn]

The traditional footholds are no longer relevant.

Millennials and onward live on their phones, not in a house or at a workplace.

From the traditional perspective, this seems like a loss.

From another perspective, it's not.