The Spam Thread: Channel Your Need to Spam Here Only

[Mindy]

Originally Posted by The Batlord

No I'm saying you'll probably lose your shirt on crypto.

Should we debate this shirt-losing opinion in a crypto thread? Because you ARE saying we need a thread with this continued crypto banter...

[The Batlord]

I will not engage in this brain numbing debate.

[Frownland]

Yesterday, I went to a bar for the first time since the pandemic started and heard someone yell "shut the **** up about bitcoin, stop making every conversation about bitcoin." I thought most of the online hypers were bots but I guess they exist out in the wild too.

[SGR]

Originally Posted by Mindfulness

I get my daily crypto fix from boxden

Forget Batlord - he's a sad no-coiner. Probably either a fiat-lover or a filthy goldbug.

Anyways, you get crypto news from boxden? I thought they only talked about hip hop there?

[Frownland]

[SGR]

Originally Posted by Frownland

Are you anti-crypto too? Why?

[Frownland]

I'm more anti-crypto bro than anti-crypto, but:

1. Its environmental impact is wack.
2. The process to solve the algorithms in order to create coins becomes more complicated over time. Once that reaches the point where it can take years to create new coins, demand overflows into alternative cryptocurrencies. The lead alternative to the dominant cryptocurrency will reach similar capacity and it will either usurp Bitcoin as the dominant cryptocurrency, or its bubble will pop as the market shifts to the next lead alternative. It's a system of instability that has little functional difference from FIAT currency once the dominant cryptocurrency reaches capacity.
3. It's a choice to participate in it now, but it will be more or less mandatory as it grows and will become another mode of control and suppression of the individual.

[SGR]

Fair enough but: I think its environmental impact can and will be lessened and mitigated with innovation, eg the shift that is happening now from proof of work to proof of stake. As for it being compulsory, that sounds more like a problem you have with government than with crypto itself. Even if there is a .govcoin in the future, other cryptocurrencies will provide for alternatives, assuming the government allows their existence to continue. I will agree with you though that how a given cryptocurrency functions in the long term is somewhat of a mystery. Right now, even with adoption from many big corps, there's still a lot of speculation driving the market.

[SGR]

Originally Posted by elphenor

.

If you bought into crypto a few years ago, you wouldn't need to put in so many hours at 7/11. Hindisght is of course 20/20.

[Frownland]

Originally Posted by SoundgardenRocks

Fair enough but: I think its environmental impact can and will be lessened and mitigated with innovation, eg the shift that is happening now from proof of work to proof of stake. As for it being compulsory, that sounds more like a problem you have with government than with crypto itself. Even if there is a .govcoin in the future, other cryptocurrencies will provide for alternatives, assuming the government allows their existence to continue.

Innovation has historically exacerbated climate impact, so I'm not very optimistic. The compulsory element is just a paraphrasing of Industrial Society and Its Future (even if I think the line he draws between what does and doesn't fulfill the power process is rooted in actions that promote industrial society). The alternatives don't really address that either because of the instability that I mentioned.