4 ms·
You’re very literally recreating, step by step, the current centralized, trust-based system that cryptocurrencies are seeking to remedy. If you need someone to
by nihonde 9y ago
You’re very literally recreating, step by step, the current centralized, trust-based system that cryptocurrencies are seeking to remedy. If you need someone to trust, you’re doing it wrong.
- meesterdude 9y agoWhat I read sounds like OP is asking for uptime and service resiliency. That's a tenant of basic business practice. Cryptocurrencies have nothing to do with it. > If you need someone to trust, you’re doing it wrong. You can't do anything in crypto without having to rely on someone else. Trust is not irrelevant in cryptocurrencies - it matters just as much as in traditional markets.
- nihonde 9y agoI didn’t say trust is irrelevant. I said That if you require trust to transact in a cryptocurrency, you misunderstand a basic tenant of the thing. You can still choose to trust whoever you want. There’s a difference between “not needed” and “not allowed”.
- pjc50 9y agoSomeone has to trust someone in order to do a transaction between a cryptocurrency and something else such as USD. That's because the transaction is actually two transfers, one of cryptocurrency and one of USD, that have different clearing and settlement properties.
- nihonde 9y agoWhat’s your point? I thought we were talking about cryptocurrency transactions and the need for uptime on exchanges.