[capableweb]

That's such a sad view, especially to hold in a generally curious place like HN. Another example is narcotics, yes we know that most narcotics usage is bad, but does that mean all usage of narcotics is bad? Obviously not, and we take those articles as they come, and discuss the angles each article has independently, in most cases at least. But somehow cryptocurrencies are so emotional for most people, that they hold such a black/white view of it.

We can, and should discuss subjects without "tainting" them with general, over-discussed points when we can, especially if we want to keep HN curious and not turn into a echo-chamber.

[Waterluvian]

We’ve spent years watching hundreds of obvious grifts and silly ideas. There has yet to be a single compelling, obvious use for this technology.

At some point we need to stop wasting oxygen on obvious garbage.

If this domain received 1/1000th as much attention and electricity I would be with you. But until then we could do with far less waste.

[nikanj]

Fraud is a compelling, obvious use for this technology. Other forms of crime too, from selling drugs, to extracting ransomware payments.

[azth]

Hedging against inflation due to manipulation by the government is a very compelling reason.

[Waterluvian]

That is one of the goofiest reasons I’ve heard when I look at the volatility of crypto.

Definitely not a compelling reason.

[azth]

It might take time, but the fact that the government can't print free bitcoins as it does with fiat to pay off its usurious debt and devalue everyone's hard work is a compelling basis.

[notch656a]

But won't you just hoard all of your earnings if it isn't inflated away by 2+% every year? I've been told spending would grind to a halt. Also without holding your wealth in cash in a bank, how would banks use your money as a reserve for lending out to their favored clients?

[azth]

Not necessarily. Secondly, banks and money lending are immoral and predatory. Usury is prohibited in the three major religions (Islam, Judaism, and Christianity), so we're better off without this dangerous practice. It goes hand in hand with fiat money by the way, the government is taking loans from the Fed, which is why it keeps needing to print more and more money to fuel it. The sooner we get rid of money lending as a business, the better.

On a side note, Islam requires a 2.5% Zakat from money hoarded in your account, to be donated to charity, so there's your solution against hoarding :) We don't need the government to fake print money to prevent people from hoarding. Better that money go into charity to truly have a more equitable society, as opposed to the fake and useless proposals we keep seeing and pitting parties against each other.

[xwolfi]

Narcotic may be whatever you want, but the debate has to be honest and transparent, not shady and criminal: if you want to legalize heroin, make a case to the people, get it approved with safeguards, say like Portugal or France to some extent (Methadone), and make sure it won't profit people who also do other things with the proceeds of sales.

The problem with Narcotic is simple: people lose freedom when getting into addiction, then with hard narcotics they also lose the ability to make important life choices, minors and generally disfavored people are targeted by addictive substance sales people, production is rarely done well (because most fields should be used for food, if they are used for more profitable narcotic purpose legally or due to lax enforcement, ALL FIELDS become opium fields like in Afghanistan, which can cause food safety issues etc.

You can't just talk as if narcotic consumers are innocent party goers. Many are absolute victims and we must talk about it without crypto entering the debate. Crypto is just a weak way to try to hide the source of completely illegal funding for narcotics without going through the painful discussion with the population that we may have to sacrifice a lot of victims for the sake of spending less on narcotic enforcement.