Crypto Currency

[BreadManPanarin]

I already explained. You don't get it. We best both move on.

You most definitely did not. You danced around the question, avoided answering it and then basically changed the subject altogether. Which is fine, but please don’t pretend you provided a meaningful well thought out explanation as to how bitcoin’s monetary policy can realistically be manipulated by individual humans or a centralized group of humans for their own benefit.

I hope it doesn’t feel like I’m attacking you, because that’s not at all my goal. I’m just trying to figure out if you have legitimate criticism (AKA signal) to share, or mostly noise.

[doulos]

https://mobile.twitter.com/evan_van_...85348930600972

Read this. If it does not raise a concern in you then read it again and slower. If it still doesn't come across as a concern to you then take a moment to ponder if you might be ideologically trapped and not giving fair thought to a real centralization concern with Bitcoin.

[BreadManPanarin]

https://mobile.twitter.com/evan_van_...85348930600972

Read this. If it does not raise a concern in you then read it again and slower. If it still doesn't come across as a concern to you then take a moment to ponder if you might be ideologically trapped and not giving fair thought to a real centralization concern with Bitcoin.

1) He uses the term “Proof of Waste”, clearly demonstrating considerable bias.

2) I don’t agree that pools accumulating a significant or even majority percent of hash rate is a centralization issue, because as long as they act as honest miners then it affects nothing, and if they start acting dishonestly or censoring then we can logically expect the vast majority of miners who are mining in that pool to switch to a pool that is mining honestly.

You’ll notice that I am willing and able to take my time to explain my position in my own words instead of relying on linking to outside sources. Can you do the same?

[doulos]

If you don't agree that it's a centralization concern then we have nothing further to discuss because we fundamentally see things differently.

You are correct that Evan has a bias. He has been writing about this stuff for a very long time. Not sure how he keeps it up.

Anyhow good luck. If Bitcoin succeeds it will be because the core community finally does something about this issue and others. If that happens it will be a good thing I have lost faith that it will but time will tell.

[BreadManPanarin]

If you don't agree that it's a centralization concern then we have nothing further to discuss because we fundamentally see things differently.

You are correct that Evan has a bias. He has been writing about this stuff for a very long time. Not sure how he keeps it up.

Anyhow good luck. If Bitcoin succeeds it will be because the core community finally does something about this issue and others. If that happens it will be a good thing I have lost faith that it will but time will tell.

Can you please humor me and explain in your own words why you think it is a centralization concern?

[doulos]

No. I am done.

[BreadManPanarin]

No. I am done.

In fairness, you never actually started (in terms of addressing my questions with your own relevant original thoughts). But fair enough. I won’t push you. And I certainly wish you all luck and prosperity with your approach to investing. No hard feelings whatsoever from my end.

[blayze]

Crypto may not be dead but FTX was a huge step back in gaining public confidence and acceptance.

I bet crypto continues for a long time as a niche product before finally flaming out or having a breakthrough that enables it to have widespread practical implication. I'm guessing it's the former.

[doulos]

No hard feelings here either. I never feel the need to restate in my own words what someone smarter than me has already said. Providing a link seemed reasonable enough on my end.

[doulos]

Crypto may not be dead but FTX was a huge step back in gaining public confidence and acceptance.

I bet crypto continues for a long time as a niche product before finally flaming out or having a breakthrough that enables it to have widespread practical implication. I'm guessing it's the former.

FTX just proved the entire reason why Bitcoin (and by extension something like Ethereum) was created. Seeing it crash and burn was unfortunate but demonstrated why many people have been banging the "Not your keys, not your coins" mantra since the start.

[BreadManPanarin]

No hard feelings here either. I never feel the need to restate in my own words what someone smarter than me has already said. Providing a link seemed reasonable enough on my end.

In fairness, distilling down the ideas of others and communicating them yourself in response to someone else’s points is called debating. No debate competition would ever allow someone to just share a link to someone else’s ideas and then rest their case. What would be the point?

My goal was to debate you, but if debating me was never your goal then your action was indeed reasonable.

[BreadManPanarin]

FTX just proved the entire reason why Bitcoin (and by extension something like Ethereum) was created. Seeing it crash and burn was unfortunate but demonstrated why many people have been banging the "Not your keys, not your coins" mantra since the start.

100% agree with you on this point.

[doulos]

In fairness, distilling down the ideas of others and communicating them yourself in response to someone else’s points is called debating. No debate competition would ever allow someone to just share a link to someone else’s ideas and then rest their case. What would be the point?

My goal was to debate you, but if debating me was never your goal then your action was indeed reasonable.

Ahh gotcha! Wasn't really interested in a debate.

[PinchingD]

Alright, order filled around 6am.....

Im in at $3000 usd

The only one we should be asking about crypto everyone else is just noise

[doulos]

The only one we should be asking about crypto everyone else is just noise

This makes zero sense. Are you suggesting that the main reason we should listen to someone's ideas is the price at which they bought something?

I mean I got into Bitcoin at prices far lower than that as well but I don't consider that in and of itself to be a meaningful metric of much other than dumb luck.