12
votes
Cryptocurrency
Hey ya'll
Just getting used to this here Tildes now.
Is there a crypto group yet. I know we all ain't gott be into it, but it seems finance here is the best closest place to call it out of who in or wants a sub.
Can we have one, what's the best way to go about setting it up!?
Right now there’s no way to create new groups. All in all our community is still quite small and it’s too early to fragment like that. However, you’re welcome to post about such topics, making sure to tag your post accordingly. The tildes tag system is really robust and allows people to search by tag or filter by tag, helping us stay organized without needing new sun groups.
So for now, post and tag away, no group needed.
We've discussed it extensively, though it's died down recently. Many are skeptical. I still own a little Ethereum, but I think I'd sum up my position by saying Matt Levine speaks for me.
Finance is the right place. If you plan to post a lot of different news stories, you could create a new topic as a megathread and post stories in it as comments, which makes it easier for people who aren't into it to ignore it. If it's just the occasional link to an interesting news story then posting top-level is fine.
I would enjoy more conversations in this area. I find blockchain and cryptocurrency technologies extremely interesting. Zk, MEV, block propagation, zero-latency recovery from packet loss, etc is all very cool to read about.
I'm not particularly interested in crypto (but I do hold some as part of a diversified portfolio).
What I dislike (and fear will happen here) is what happened on Reddit and Twitter: crypto enclaves form and reject any dissenting opinion, and in addition have massive amounts of scams and bots brigading other places.
I don't understand why crypto in specific has this problem, but I've all but given up of having any rational discussion in any crypto forum.
I would say it has the problem of rejecting criticism because cryptocurrency is more or less a Ponzi scheme.
While I'm certainly not pro-crypto, and I do agree that most of the new crypto is basically a ponzi or pump and dump scheme, I think it's harder to argue that for Bitcoin which does appear to be a legitimate commodity (or currency, depending on how you want to argue it).
What the future holds for it is less certain and this is where I like to debate, but I can't have that debate in various subreddits because it's just brigaded (thus my above comment noting my concern).
Its a broad technology class, so there are lots of valid view points on it, including that there are scams utilizing the tech.
Some other points of view one can express are:
small-scale bitcoin data centers: An open-source blueprint for advancing power
infrastructure in Africa and beyond.
And these are just surface-level, tip of the ice berg type of applications and reads. Not even diving into the technical respects of advances in applied cryptography (zero-knowledge proofs), efficient MEV, data verification, state replay, IO bound catch-ups, CLOBs and AMMs, double-spend prevention, fee markets, NFTs and executable (xNFTs), etc.
So while I totally agree that there are scammers in the space (much like I experience with other technologies like email scams, SMS scams, robocalls, etc...) I think there is a broader picture of what this technology is actually enabling (which in itself is very broad, from economic coordination to computed state coordination to energy science.)