Top
Best
New

Posted by ibobev 16 hours ago

Crypto in 2026: Oh, This Is the Bad Place(www.stephendiehl.com)
378 points | 476 commentspage 3
zeafoamrun 14 hours ago|
> "A platform that the federal regulatory apparatus has agreed to treat as adjacent to a derivatives market listed, ran, settled, and paid out a binary contract on the eschatological return of the Christian messiah."

How is this not the coolest shit ever?

jameshart 12 hours ago|
You might be surprised what legitimate insurance companies have issued policies against in the past - it has always been the case that insurance and gambling are more closely adjacent than you might think.

For example: https://www.insurancebusinessmag.com/ca/news/breaking-news/d...

“One British insurance company came to the rescue of three Scottish sisters … concerned about the cost of raising the Son of God should one of them be selected to give birth to the Messiah.”

Of course the big difference is insuring yourself against the personal risk of loss in the event of a specific outcome is not seen as quite the same as merely speculating on its occurrence. Insurance is just betting against what you want to happen happening.

zeafoamrun 11 hours ago||
Right, you can use the same instruments for both speculating and hedging. Who is to say nobody was using this as a hedging instrument?
simonebrunozzi 7 hours ago||
> The business is sucker farming: manufacturing a product whose counterparty is a retail customer who does not understand that he is the one being farmed. It could have played by the existing rules. It has decisively chosen not to.

Bingo.

ExpertAdvisor01 11 hours ago||
I think anyone who has dealt with SWIFT transfers into higher-risk jurisdictions is thankful for stablecoins.(Also you save a ton in fees)
diogenescynic 11 hours ago|
This. I think crypto is going to have more commercial/industrial applications than retail/consumer applications. Stablecoins allow you to make transfers instantly beyond bank hours. There is real value there.
thelastgallon 14 hours ago||
> A market, she says, is a price discovery mechanism for goods and services whose value comes from outside the market itself. The price of wheat reflects something about the world. The price of a share in a public company reflects expectations about real cash flows. The price of an interest rate future reflects collective views about real monetary conditions. In every case the market is a measuring instrument for an underlying reality, and the participants take positions on that reality.

> The price of Bitcoin measures only the price of Bitcoin.

keiferski 14 hours ago||
It is really striking how technologists keep disregarding any aspect of ethics, philosophy, proper usage, etc. and just focus entirely on the technology itself. Cryptocurrency, AI, social media, on and on.

I used to think it was merely an innocent ignorance, just a soft subject that technologists weren’t familiar with. But anymore it seems like actively hostile to me, a kind of blind belief in the idea that technological problems will just be magically solved by adding more technology.

simonra 11 hours ago||
What would drive a love of technology over ones peers in the formative years? And when society further obstructs the path to working with one's interests by further exposure to the peer group and its passions, why would the society become beloved by the individual? People demonstrably cannot be put on the path of caring for others without being showed that they are seen and cared about themselves, and no intro to philosophy, or ethincs for graduates course, has ever focused on that aspect.

Not to say that all who love technology are outcasts, but hoping for reaching the ones behaving problematically by talking about the academic sport of philosophy or related disciplines doesn't seem effective if the goal is more pro-social behaviour.

groceries8192 12 hours ago|||
Technological nihilism, in a way. The displacement of the philosophical foundations of science and western civilization in the last hundred plus years is still becoming manifest. We've been coasting on the fumes for a long time!
tencentshill 5 hours ago|||
if everyone was surveilled all the time, real, harmful crime would drop. That assumes that every person doing the surveilling is completely unflawed and the law is a perfect, 100% just computer program. Deluded idealists is a charitable descriptor.

https://www.forbes.com/sites/thomasbrewster/2025/09/03/ai-st...

chasd00 11 hours ago||
nerds gonna nerd i guess..
keiferski 11 hours ago||
I don't know, I think philosophy can be pretty nerdy.
seydor 10 hours ago||
Iran has been using bitcoin to pay its oil and got payed tolls in it.

OTOH i think it damaged the ecosystem that US president decided to be "the most pro-crypto president". Obviously nobody wants that.

coreyh14444 15 hours ago||
Has been since 2017 IMO...
thomashabets2 14 hours ago||
1. A looong skim before it's revealed which type of "crypto" this is about. Because quantum computers, real crypto is also having a challenging year.

2. 2026? Cryptocurrency was always just hell. Well, before it was hell it was LARP.

maelito 13 hours ago||
If you don't know the Taler project, it's a very good idea as an alternative to crypto https://taler.net
drptech 13 hours ago|
[dead]
estetlinus 14 hours ago|
> gold carries a floor of industrial demand

I can’t help but think Bitcoin carries a floor for criminal activity. It will always be valuable.

More comments...