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Honestly, this seems like a fair criticism. It would be worth rebutting, rather than downvoting. My only rebuttal is that bitcoin and ethereum have appreciably

Honestly, this seems like a fair criticism. It would be worth rebutting, rather than downvoting. My only rebuttal is that bitcoin and ethereum have appreciably better market positions than the rest of the coins out there. Bitcoin has acceptance of major exchanges, futures markets, etc. The average ICO, though...

crankylinuxuser 9y ago
The biggest underpinning of all the 'coins are its trustability of its mathematics. None of the coins yet, to my knowledge, have any formal proof of the system. Because of that, we still see bugs after bugs with all 'coins. With Ethereum, the DAO is a perfect example of that, and their shoddy "fake it till we make it" style that we see so much in tech these days. That splintered the community into ETH and ETC. And yet, later on there was another overflow error that ended up 'destroying' ETH on another attack. Sure, as mythical play money, it's an awesome idea to toy around with. But we're not talking toying around here. We're talking people mortgaging houses and properties. We're talking of people liquidating their 401K's and putting it into $coin that was recommended. In essence, the destitution and fraud from the Great Depression was the primary reason why the SEC was created initially. And we're seeing this all over again, but worldwide on the 'net. And there's no legislative body that can legally remedy this everywhere. It's going to get very ugly.
- jacoblambda 9y ago
  OK so without trying to push cardano too hard, one of the major design points of cardano was to design a cryptocurrency from the ground up by building a security model, writing formal proofs for the system, and implementing said proofs in isabelle as formal verification of the underlying software for the network. I would recommend looking into it if you are curious or would like to try to verify anything I said. They are doing a lot of cool stuff and I think the project is really interesting but I've been trying to keep my posts from getting too wordy so I'll cut myself off here.

crankylinuxuser 9y ago

The biggest underpinning of all the 'coins are its trustability of its mathematics. None of the coins yet, to my knowledge, have any formal proof of the system. Because of that, we still see bugs after bugs with all 'coins. With Ethereum, the DAO is a perfect example of that, and their shoddy "fake it till we make it" style that we see so much in tech these days. That splintered the community into ETH and ETC. And yet, later on there was another overflow error that ended up 'destroying' ETH on another attack. Sure, as mythical play money, it's an awesome idea to toy around with. But we're not talking toying around here. We're talking people mortgaging houses and properties. We're talking of people liquidating their 401K's and putting it into $coin that was recommended. In essence, the destitution and fraud from the Great Depression was the primary reason why the SEC was created initially. And we're seeing this all over again, but worldwide on the 'net. And there's no legislative body that can legally remedy this everywhere. It's going to get very ugly.

jacoblambda 9y ago
OK so without trying to push cardano too hard, one of the major design points of cardano was to design a cryptocurrency from the ground up by building a security model, writing formal proofs for the system, and implementing said proofs in isabelle as formal verification of the underlying software for the network. I would recommend looking into it if you are curious or would like to try to verify anything I said. They are doing a lot of cool stuff and I think the project is really interesting but I've been trying to keep my posts from getting too wordy so I'll cut myself off here.