jsutton

As the list would take me ages to write down, here are a few obvious ones:

- Global financial settlement, including multi-party and Very Large sums, in under an hour for a few dollars.

- Collateralized permissionless loans

- Global Open-source computing in a shared execution environment

- Proof of ownership that's quickly verifiable

- Insurance settlements

There's a limitless amount of bespoke use cases as well, as we'll continue to see pop up over the next decade.

This is precisely the phenomenon that happens in HN with cryptocurrency-related topics. The stupid cousins of crypto (scams, ponzis, pump-and-dumps) have activated a heuristic in an intelligent body of people, leading to a blanket dismissal of crypto products.

Others (like myself) get defensive when their convictions are dismissed out of hand. And hence crypto/blockchain threads here tend to be the most polarizing.

It seems you don't realize that ETH products like USDC are redeemed 1:1 with their fiat counterpart USD through regulated banks. Again, your view is demonstrably wrong, as products "inside" the system have value outside the system.

Unfortunately your view seems to be the majority in HN. Quite disappointing from a supposedly forward thinking community. I'll be hearing the lazy beanie babies or tulips comparison for the next decade.

A single counter-example is Uniswap. I can swap one currency or token into any other currency or token, in seconds, with a very modest fee of 30 basis points. And I can do this anytime, 24/7. Fiat-denominated, bitcoin, altcoin, whatever. I don't have to pick up the phone and talk to anyone, don't have to worry about my money being locked up for days while it gets cleared by the ACH process.

Another example is Aave, or Compound. I can take fiat-denominated crypto or bitcoin/ethereum/etc and Lend it in return for a modest interest rate. I can also borrow up to 80% of my collateral in fiat-denominated or other cryptocurrency and leverage that in a trading market. Again, I don't have to talk to anyone or get permission to do so. And I can borrow/lend indefinitely, and withdraw whenever I'd like.

It's alright if this is not valuable to you or your clients. But to say this is not a valuable and novel application is demonstrably false, as > $50 Billion in value is currently held in these applications.

I think you're correct about the legislation to an extent, but you're being facetious about that destroying the crypto industry.

Face it, even in the sea of scams, there are a wealth of crypto projects that have delivered and do exactly as they say. It's an industry that is here to stay. There will be large shakeouts every few years, but that's relatively normal in a burgeoning new industry.

What do you mean by 'real' fake money? ETH is money.

I think crypto-detractors and crypto-advocates alike would benefit from reading this article. The truth is always somewhere in the middle.

Crypto is neither a tupip mania scam nor a magic solution for everything. One thing's for certain, it isn't going away anytime soon.

The article concludes the opposite.

I guess you'd say the same thing about open source cloud computing? Crypto is an evolution of that, after all.

Ethereum? This is a pretty small minded view, considering the amount of talent and resources dedicated to building blockchain and crypto infrastructure.

And how would you use RFC 3161 as a company that wants that use case?

Meaning on good ole' paper, or in a government database somewhere that you have no visibility or access to. Is this preferable to an ownership record that you, the gov, or anyone else can verify from your phone?

I'm tired of this flippant statement that many crypto-detractors take as fact, that there's no intrinsic value in Bitcoin. When you create a product or service that other people want to use and pay you for, is there no intrinsic value there?

1. It's a false narrative that majority of bitcoin is held by a small majority, as this doesn't account for custodianship services, funds, lost coins, etc. [1]

2. Many companies and citizens and even the US gov itself have over $1M in bitcoin, to name a few: Square, Microstrategy/Michael Saylor, Greyscale, Tim Draper, Winklevoss/Gemini, etc [2]

Safe to say, Bitcoin and crypto is Big Business now in the US, with hundreds of companies and startups in the space based in the US.

[1] https://insights.glassnode.com/bitcoin-supply-distribution/ [2] https://www.kevinrooke.com/bitcoin

Being an engineer does not exclusively mean you are focused on efficiency. It means determining the balance of reliability, functionality, efficiency, and a wealth of other factors as applied to the specific use case.

Bitcoin is not made to be efficient, it's made to be a self-sufficient decentralized monetary system. Decentralization isn't efficient compared to centralization, but it offers other benefits that are powerful.

The whole point is not to get rid of banks and replace them with crypto. It's about building a system that's more democratized, robust, and resistant to loss of purchasing power over time. Bitcoin has done that well, and it's the cornerstone of the new decentralized financial infrastructure.

Why does Bitcoin need to modernize? There are other crypto projects that can fill in the holes that Bitcoin leaves (tx fees, slow, etc). Bitcoin is a fully secure, fully self-sufficient, global monetary system. It doesn't need to be lightning fast or super cheap. It needs to WORK, and work very well, which it has demonstrated.

I find it interesting (sad, actually) that most other S-1 posts on here are congratulatory for the most part, giving kudos to the teams (look at the DO one today).

However, when it comes to anything crypto related, the emotions really come out. It's all "bitcoin/crypto is useless, doesn't solve any problem, waste of talent."

For a community of hackers, there really seems to be a lack of vision when it comes to crypto specifically.

The article states plainly:

“What’s Ethereum’s killer app?” we asked ourselves not long ago. Now we know. It’s the world’s best publicly-accessible settlement platform for financial transactions. In a way, that’s exciting. The markets think so too.

What about growth stocks that don't pay a dividend. Not a productive asset?

You're missing the forest for the trees. Transaction fees aren't important. In this case, it's the ability to raise funds for a project outside of an elite class of investors, and not have to wait 5-10 years for a liquidation event.

That's objectively your assumption. You really have no way of knowing what it's mainly used for.

Hope this was sarcastic, as it's an awfully edgy comment.

Based on the article, you would create your own cryptocurrency $INDIEGAME (through a platform like Roll or Rally) and give out those cryptocurrencies as points for community participation. Players of your game could then accumulate such points by spreading the word, and exchange those points for some in-game items / benefits, for instance.

There is always an incentive for saving time. For example, lawyers can use that time to take on more clients or simply be more thorough.

Literally no one is proposing giving citizenship to everyone who wants it, so your 'genuine question' comes off as completely insincere at best.

That's not actually what happened here, not to say rent-seeking won't happen in the future. R&D stopped well before acquisition, and since acquisition the main focus has been making the product scalable, reliable, and expanding to business users.

This is outright false, no basis in fact whatsoever.

LastPass, Bitwarden, and Dashlane are the main ones. All have their own pros and cons.

How is searching and copying a password 'almost impossible' in LastPass?

You should be able to figure out a good daily time for your team that doesn't involve breaking out of the middle of a flow state. Maybe when everyone is expected to be in the office, or even right after lunch?