What we especially need to stress to regulators is that there's no relationship between the technical claims of cryptocurrency and our now over 13 years of experience. It's not decentralized, it's not a currency, it's not a store of value, and it's not a promising technology
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From the outside (like from Congress's point of view) people see a trillion-dollar new tech industry, a lot of proponents who of course argue this is the next big thing, and some critics. They don't see the huge silent majority of tech people who know it's a scam. That's on us
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This thread about cryptocurrency made it to the top of Hacker News and then got flagged off in about seven minutes, start to finish. Just to give you an idea of the polarization on this issue among nerds, and why people with doubts stay quietpic.twitter.com/kI0I2hAyBy
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Many people in replies are saying "bullshit, there's no billions in laundered money moving over the blockchain!" Right-because it can't handle the volume! The big money laundering is crypto-adjacent and done through projects like Tether. Only ransomware *has* to use blockchain
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The innovators dilemma still exists.
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I feel there is quite a lot of technical people - especially well-off technical people - who see cryptocurrency for what it is, but choose to invest in it because they have a more cynical outlook on the markets, the governments, and on each other
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I've been"speaking out" about it for at least 9 years but I'm just a guy trying to keep people from getting hurt. What dues paying organizations can I contribute to lead a fight?
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There are some scams in cryptocurrency, but it doesn’t follow that the entire field is fraudulent. In particular,
#Bitcoin
is solving a crucially important problem in basically the only way it can be solved. Few understand this.https://twitter.com/mhartl/status/1388626522454458372 … -
What exact problem is it solving? Because Bitcoin / blockchain / decentralized trust is a *genius* solution to a problem that no one ever had...
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Speaking of not making sense on a technical level, you might like this:https://twitter.com/joekelly100/status/1398625634369277955 …
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Speaking out is allowed during "dumb" in the pump and dumb scheme they do very well and that's why I have never heard of you before and you have never heard of me before. I hope you are getting what I am at.https://twitter.com/toouufii/status/1399116721991135232 …
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