4 ms·

This is actually quite fun to say out loud - "here is a revolutionary trustless system of currency, but you must trust a group of anonymous developers in the no

by Yizahi 5y ago

This is actually quite fun to say out loud - "here is a revolutionary trustless system of currency, but you must trust a group of anonymous developers in the non-extradition offshore not to screw you with premine"

ptr2voidStar 5y ago
Exactly This. Why can people NOT see this?!
vmception 5y ago
anonymous non-extradition seems like an irrelevant detail if node consensus is the entire extent of the contract but the anonymous part does deter any social blowback
astoor 5y ago
"here is a revolutionary trustless system of currency, but you must trust a group of anonymous developers in the non-extradition offshore not to screw you with premine" and trust them to make immutable smart contracts 100% bug free to prevent scandals like DAO onwards, and trust shady mining cartels, and unregulated exchanges, and the shadowy cryptocurrency oligarchs manipulating prices, etc. The fact is that this "revolutionary new financial system" doesn't remove trust - it just shifts trust to the less trustworthy.
mattwilsonn888 5y ago
Have you never used a block explorer, or do you just not understand how blockchain works? I fully agree there are weird insider deals based on allocations and premines - but that's all fully auditable, and if it isn't, that says all you need to know. You are applying the flaws of the worst examples across the whole technology AKA a strawman. Maybe you're just salty you could never take the risk required to make money on new tech and don't want to think of yourself as a Luddite.
- Yizahi 5y ago
  I have fun staying poor, thank you very much, as your group likes to say. And since you have managed to learn a concept called "strawmen" (not applicable here, but anyway), you may also want to learn a concept called "ad hominem". So please tell me, how does being auditable (note that "auditable" is very different from "audited") prevents creators from selling premine?

by Yizahi 5y ago

ptr2voidStar 5y ago

Exactly This. Why can people NOT see this?!

vmception 5y ago

anonymous non-extradition seems like an irrelevant detail if node consensus is the entire extent of the contract but the anonymous part does deter any social blowback

astoor 5y ago

"here is a revolutionary trustless system of currency, but you must trust a group of anonymous developers in the non-extradition offshore not to screw you with premine" and trust them to make immutable smart contracts 100% bug free to prevent scandals like DAO onwards, and trust shady mining cartels, and unregulated exchanges, and the shadowy cryptocurrency oligarchs manipulating prices, etc. The fact is that this "revolutionary new financial system" doesn't remove trust - it just shifts trust to the less trustworthy.

mattwilsonn888 5y ago

Have you never used a block explorer, or do you just not understand how blockchain works? I fully agree there are weird insider deals based on allocations and premines - but that's all fully auditable, and if it isn't, that says all you need to know. You are applying the flaws of the worst examples across the whole technology AKA a strawman. Maybe you're just salty you could never take the risk required to make money on new tech and don't want to think of yourself as a Luddite.

Yizahi 5y ago
I have fun staying poor, thank you very much, as your group likes to say. And since you have managed to learn a concept called "strawmen" (not applicable here, but anyway), you may also want to learn a concept called "ad hominem". So please tell me, how does being auditable (note that "auditable" is very different from "audited") prevents creators from selling premine?