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681 points Anon84 | 3 comments | | HN request time: 0s | source
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vatsachak ◴[] No.46188676[source]
Crypto is not necessarily just a casino; the tech has value but there is no mass adoption of the currency as of yet.

We'll probably see mass adoption of crypto if a crypto can become a store of wealth

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1. esperent ◴[] No.46188927[source]
Crypto currency uses up to 1.5% of the world's electricity, makes up 2.5% of the world's money, uses up to 0.1% of the fresh water supply, and perhaps as high as 6-10% of silicon chips produced.

And yet, as you say, there's no mass adaption (yet). All it's doing is making tech bros and speculators even richer. It's possible that wider adoption will eventually happen, but as years pass this claim gets harder and harder to make. It's not any easier for "normal" people to use than it was ten years ago, and the main use cases are still "speculation" and "paying for drugs", also just like ten years ago.

From someone who also genuinely thinks the underlying crypto tech is fascinating, it's hard not to see the "currency" part of it as a kind of cancerous growth on the world economy.

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2. vatsachak ◴[] No.46195676[source]
Yeah, it's definitely a huge bubble right now. I think a lot of crypto bros have marketed it more as a casino than a solution to a decentralized currency.

A hypothetical good use case: one can have a "science crypto" where the transaction fees go to funding science. By using the cryptos you want you can essentially pay taxes to causes you think are important

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3. esperent ◴[] No.46201965[source]
> a lot of crypto bros have marketed it more as a casino than a solution to a decentralized currency.

Another way of looking at this is that the main players have a vested interest in keep it as a casino. Therefore it'll never become a currency, because casinos and monetary systems have fundamentally different requirements when it comes to stability.

Instability in cryptocurrency is a feature. It'll never go away unless it gets regulated to the point that all the things that differentiate it from the fiat monetary system are gone.