8 ms·
1) They are pretty small for most cryptocurrencies. 2) This is false if you understand that Visa/MC do not settle instantly, rather 24-48 hours down the line a
by icelancer 8y ago
1) They are pretty small for most cryptocurrencies.
2) This is false if you understand that Visa/MC do not settle instantly, rather 24-48 hours down the line and their instantaneous consumer network is not identical to that settlement layer. Similar to BTC's blockchain + Lightning network.
3) This is not really a thing outside of Ethereum, but yes, it was a very bad decision.
4) There are plenty of frauds using USD. Way more than BTC. Like, a lot.
5) I'm not sure what this random bit of racism against China has anything to do with anything, but the network's locations of nodes doesn't have much to do with nationality preference.
- PretzelPirate 8y agoTo clarify: Ethereum didn’t roll back any legitimate transactions (or any transactions at all) when restoring the DAO funds, which conflicts with the original #3 point you responded to.
- village-idiot 8y agoHaving the dev of the network reversing transactions makes a mockery of “decentralized” and “trust-less”. More hilariously is that there is a branch of Ethereum that still contains the DAO hack transactions, Ethereum Classic . It’s generally assumed that that branch is run by the DAO hacker, which is kind of hilarious to me.