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What attributes about crypto, makes you feel the same way? i.e. that it is going to be revolutionary Because the example you said about the internet (from load

What attributes about crypto, makes you feel the same way? i.e. that it is going to be revolutionary Because the example you said about the internet (from loading webpage to video streaming) does sound amazing. What's the "parallel" for crypto that you see?

JohnJamesRambo 8y ago
https://i.redd.it/l5y9p9nqwu811.png https://i.redd.it/l5y9p9nqwu811.png This sums it up better than I could. The wrenching of power away from centralized authorities and organizations (which we have seen abuse us and our privacy mercilessly for their gain) to decentralized applications with no middlemen, that are free of censorship, and can not be "stopped."
- confiscate 8y ago
  I want crypto to succeed, but I have a hard time seeing the parallel you mentioned. One example benefitted you personally, while the other is a good concept in theory. In your example of the early internet (too slow to load webpage, to streaming video), you described a direct benefit you experienced personally (you needed to access a piece of content and it got that to you fast) But when you use crypto, you said it's revolutionary because it "wrenches power from centralized authorities". That is not a direct benefit you experienced personally. That description is a high-level concept. So, it's hard for me to see the parallel.
- anyfoo 8y ago
  Some of that is just playing with definitions. "Have Internet without an ISP", how? And how does cryptocurrency help?
- mrep 8y ago
  LOL. You still need middlemen with cryptocurrencies in all those cases because the middleman is now run across computers that don't scale whatsover (hardcoded limit in processing which is the worst type of scaling possible and scaling is the main reason software is a profitable industry). To make matters worse, you have no way of funding the developers to build the software required for the decentralized software outside of "buy our coins and hope they rise in price forever". How is there still this much FAD in cryptocurrencies considering their terrible scaling technology and economic solutions?
- Fomite 8y ago
  Reading that, all I can get out of it is "Do things without people who are experts in that field, try to reinvent their expertise on the fly, and fuck up on the way."
- plttn 8y ago
  I'd hire a lawyer because I trust their legal knowledge. So without a bank, who's going to loan you money? Because unless you're donating pennies from hundreds of thousands of people, it's going to be an entity with a fair amount of $CURRENCY, so basically a bank.
chrisco255 8y ago
Streaming money. What if you were paid by the second instead of by the hour? Or your bank account filled up live as you worked or performed services? Or companies that provided services to other companies were compensated in the same way? Businesses live and die by cash flow. What if cash flows instantly 24/7? What if you were able to do micropayments efficiently on the web? What if many contractual agreements between parties were settled on blockchain, and monies held in escrow disbursed automatically based on pre-programmed rules?
- jopsen 8y ago
  None of the what the crypto-currencies promise is impossible to do with a few independent central vendors implementing that same standards for payments and contracts. And centralized solutions will always be faster.
  - chrisco255 8y ago
    Centralized databases are faster. Centralized consensus is dangerous for the same reason that a dictatorship is dangerous. The organization in charge of said solution would exercise dramatic control over the execution of said code. You need not look very far into the past to see egregious examples of organizations abusing their centralized position over data. I shudder the thought of a centralized actor having the same precise control over all monetary transfers. Meanwhile, the banking system itself is not centralized. It's quite slow to settle monetary transfers from bank-to-bank. Right now, Lightning Network is live on BTC's chain. It's instant, near free, and yet it's decentralized.
    - jopsen 8y ago
      Look at how certificate transparency is done.. a few servers using same protocol is all it takes. Most crypto-things have this idea that they servers validating transactions have to be compensated and that anyone can do this validation. (validation == mining) Having a few well regulated entities do all the mining is a centralized system that can be verified externally. Without all the cost of decentralization. And with the added security that validators are trusted entities.

JohnJamesRambo 8y ago

https://i.redd.it/l5y9p9nqwu811.png https://i.redd.it/l5y9p9nqwu811.png This sums it up better than I could. The wrenching of power away from centralized authorities and organizations (which we have seen abuse us and our privacy mercilessly for their gain) to decentralized applications with no middlemen, that are free of censorship, and can not be "stopped."

confiscate 8y ago
I want crypto to succeed, but I have a hard time seeing the parallel you mentioned. One example benefitted you personally, while the other is a good concept in theory. In your example of the early internet (too slow to load webpage, to streaming video), you described a direct benefit you experienced personally (you needed to access a piece of content and it got that to you fast) But when you use crypto, you said it's revolutionary because it "wrenches power from centralized authorities". That is not a direct benefit you experienced personally. That description is a high-level concept. So, it's hard for me to see the parallel.
anyfoo 8y ago
Some of that is just playing with definitions. "Have Internet without an ISP", how? And how does cryptocurrency help?
mrep 8y ago
LOL. You still need middlemen with cryptocurrencies in all those cases because the middleman is now run across computers that don't scale whatsover (hardcoded limit in processing which is the worst type of scaling possible and scaling is the main reason software is a profitable industry). To make matters worse, you have no way of funding the developers to build the software required for the decentralized software outside of "buy our coins and hope they rise in price forever". How is there still this much FAD in cryptocurrencies considering their terrible scaling technology and economic solutions?
Fomite 8y ago
Reading that, all I can get out of it is "Do things without people who are experts in that field, try to reinvent their expertise on the fly, and fuck up on the way."
plttn 8y ago
I'd hire a lawyer because I trust their legal knowledge. So without a bank, who's going to loan you money? Because unless you're donating pennies from hundreds of thousands of people, it's going to be an entity with a fair amount of $CURRENCY, so basically a bank.

chrisco255 8y ago

Streaming money. What if you were paid by the second instead of by the hour? Or your bank account filled up live as you worked or performed services? Or companies that provided services to other companies were compensated in the same way? Businesses live and die by cash flow. What if cash flows instantly 24/7? What if you were able to do micropayments efficiently on the web? What if many contractual agreements between parties were settled on blockchain, and monies held in escrow disbursed automatically based on pre-programmed rules?

jopsen 8y ago
None of the what the crypto-currencies promise is impossible to do with a few independent central vendors implementing that same standards for payments and contracts. And centralized solutions will always be faster.
- chrisco255 8y ago
  Centralized databases are faster. Centralized consensus is dangerous for the same reason that a dictatorship is dangerous. The organization in charge of said solution would exercise dramatic control over the execution of said code. You need not look very far into the past to see egregious examples of organizations abusing their centralized position over data. I shudder the thought of a centralized actor having the same precise control over all monetary transfers. Meanwhile, the banking system itself is not centralized. It's quite slow to settle monetary transfers from bank-to-bank. Right now, Lightning Network is live on BTC's chain. It's instant, near free, and yet it's decentralized.
  - jopsen 8y ago
    Look at how certificate transparency is done.. a few servers using same protocol is all it takes. Most crypto-things have this idea that they servers validating transactions have to be compensated and that anyone can do this validation. (validation == mining) Having a few well regulated entities do all the mining is a centralized system that can be verified externally. Without all the cost of decentralization. And with the added security that validators are trusted entities.