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The problem with crypto is despite your explanation, I have no idea what any of your post means. Not any of it.

by hughrr 5y ago

vmception 5y ago
Then learn. There is standardized education available now.
birracerveza 5y ago
How is you being unable (or unwilling) to understand an explanation of a domain you're unfamiliar with a problem with crypto?
choward 5y ago
I honestly thought it was satire at first.
peakaboo 5y ago
You are on the Internet - you can find out anything (uncensored). :) But yeah who has the time...
ur-whale 5y ago
>The problem with crypto is despite your explanation, I have no idea what any of your post means. Not any of it. Not entirely sure what point you're trying to make here. Or, in other words: the exact same thing happens to my 80 year old grandmother when I explain about my android phone. Doesn't make the device any less useful.
- noduerme 5y ago
  Well it makes it less useful if your grandmother can't use it to call you.
  - NoboruWataya 5y ago
    ... or if your grandmother tries to use it and loses half a million dollars.
    - noduerme 5y ago
      if my nans had that kinda money she'd have an iPhone.
      - CRConrad 5y ago
        And still not be able to call you. (And/or still be able to lose half a million dollars.)
- khazhoux 5y ago
  Do we really think women with grandchildren can’t understand Android phones?
  - deleted 5y ago
    [deleted]
  - kuhewa 5y ago
    Yeah i reckon some 80 year old grandmothers struggle with some Android functions.
    - sgt 5y ago
      I have seen real proof of this. The only reason "regular" people buy Android is to save money, but it becomes a support issue for their children and grandchildren. I've made sure my entire family is on iPhone. My mom could never figure out the bottom three buttons on Android. iOS makes more sense to her.
      - recursive 5y ago
        Counterexample: me. I'd pay double to get a phone that didn't have its on it.
kkjjkgjjgg 5y ago
Ethereum, not crypto. Bitcoin is less complex by choice.
verytrivial 5y ago
This is apparently a feature, not a bug.
- m3kw9 5y ago
  “Feature”
masklinn 5y ago
From what I understood of afidrya explanation (in a sub-comment): * there's a smart contract to which you can send ETH (directly), it sends WETH back * however the inverse operation (WETH -> ETH) is not done by sending the WETH, you're supposed to call a special conversion function of the contract I guess the smart contract only looks for ETH in its wallet (at its address), it ignores the WETH entirely, and thus the WETH become inaccessible. So the contract is a deposit ATM where you can deposit cash and it spits out a bank check, but if you deposit a bank check it just shreds the check. Or a currency conversion machine where you can shove USDs in the slot to get EURs, but if you shove EURs in, to the shredder they go,
- deleted 5y ago
  [deleted]
- jaclaz 5y ago
  >So the contract is a deposit ATM where you can deposit cash and it spits out a bank check, but if you deposit a bank check it just shreds the check. >Or a currency conversion machine where you can shove USDs in the slot to get EURs, but if you shove EURs in, to the shredder they go, Very good explanation, thanks, though the machine you describe would not probably be called a "smart" ATM.
- tetha 5y ago
  > Or a currency conversion machine where you can shove USDs in the slot to get EURs, but if you shove EURs in, to the shredder they go, This example is kinda funny. If your bank notes were accidentally damaged in germany, you could send them to the federal bank and have them replaced as long as more than half of the bank note can be reconstructed. This is a service intended especially for victims of fire or flood catastrophes, though dog related accidents aren't unheard of either.
  - masklinn 5y ago
    AFAIK it's the same in the US (the US mint is in charge of both producing and destroying money), because treasuries want to keep track of the physical money supply.
iqanq 5y ago
You are expecting to understand how a completely new and complex technology works from 5 lines of text. Imagine if someone tried to explain Kubernetes to you in 5 lines of text.
- danjac 5y ago
  Sure, but celebrities and grifters aren't pushing the general public to adopt Kubernetes or bet their life savings on their understanding of it.
  - PretzelPirate 5y ago
    There certainly is a different group who pushes Kubernetes as the savior of DevOps. I’ve seen this put plenty of pressure on teams to adopt it and they’ve gone in too fast, resulting in downtime, security issues, and huge operational costs. These are real costs and can have an affect on someone’s home life and career prospects within their company. I’ve had to go in and save quite a few of these people, and they were pretty miserable. We shouldn’t shill any technology, and anytime we do talk about it’s virtues we should discuss its shortcomings and why people should be hesitant to use it.
    - danjac 5y ago
      Agreed - but Kubernetes won't result in you losing half a million of your assets in an instant. I mean unless you decide to use Amazon EKS for a side project of course...
- saboot 5y ago
  Let's try. I don't know what kubernetes does. Can anyone explain in five lines of text?
  - doteka 5y ago
    It abstracts away underlying hardware, leaving you with a convenient set of abstractions for deploying containerized networked services. Sort of an OS for a cluster of distributed machines. Unfortunately this involves lots of YAML. How’d I do?
colesantiago 5y ago
TL;DR: He completely lost his money by entering the wrong details rather than testing payment first.
- freemint 5y ago
  He tested it by converting Euros to Dollars first, used it for a while and then put Dollars in to the same machine and they were shredded. He did test but using the wrong mental model.
  - dahart 5y ago
    Why do we have a machine that shreds any dollars? Who anywhere is interested in a dollar shredding feature?
    - marcosdumay 5y ago
      That's the correct question. The supporters here are saying "yeah, it shreds dollars, he should have known that". And yeah, if you have a machine that shreds dollars, you better know what it does. That's a good reason for not having such a machine. Anyway, ETH seems to be full of those features where it shreds money on places that are really not obvious and sometimes gets every single person by surprise.
    - CRConrad 5y ago
      > Why do we have a machine that shreds any dollars? Fuck knows. No legit reason that I can see; because cryptards are idiots, is the only thing that comes to mind. > Who anywhere is interested in a dollar shredding feature? Nobody with the least bit of sense. (But, see above...) That's why he was complaining about it.
quickthrower2 5y ago
This is not necessary a problem? If someone waxes lyrical about nodes, pods, containers and ingress and you know nothing of kubernetes it will sound like jargon soup. But people can understand kubernetes and build services with them, and present UIs using these elements that ordinary people can use.
erikbye 5y ago
Don't judge crypto by one person's poor explanation of how smart contracts and wrapped tokens work.
- CRConrad 5y ago
  Judge it, in stead, by the fact that it makes it possible to set up automatic money shredders.
bigtex88 5y ago
Ok so the problem then seems to be with your understanding of the space, not with crypto itself. I don't go to a geneticist and go "the problem with genetics is I have no idea what any of it means".
- widjit 5y ago
  Humans didn't design genetics, it's a chaotic and confusing system that evolved by chance. If you are seriously comparing your monetary system to something that evolved by chance there is a problem with your monetary system.
- dahart 5y ago
  This isn’t genetics, it’s money. Crypto needs to be simple enough for everyone to understand before it can be adopted by everyone. My kids understand stocks and back transfers, while incredibly smart and savvy people are getting confused about crypto and losing money accidentally (it’s not just this single incident, it’s a common story). This isn’t good, and shouldn’t be dismissed as people having unreasonable expectations.
  - vmception 5y ago
    That contract could have been designed better. That user could have used it how other people use it. There are a lot of things here that have nothing to do with “crypto needs to be simpler” copypasta. This particular thing was not simple and never will be unless everyone stops using it. Focus on that one thing: How to design a better smart contract? How to design a better UI for the end user? Thats a great discussion for a programming forum actually.
    - CRConrad 5y ago
      > This particular thing was not simple and never will be The user used a currency-exchanging thing, sent it a currency it shouldn't accept as input, and it swallowed his currency in stead of rejecting it. What's "not simple and never will be" about that? Seems utterly simple to me: The currency-exchanging thing didn't work as it fucking obviously should. And the cryptards have the unmitigated gall to call this shit "smart"... Sigh. Geroffmylawn.

The problem with crypto is despite your explanation, I have no idea what any of your post means. Not any of it.

by hughrr 5y ago

The problem with crypto is despite your explanation, I have no idea what any of your post means. Not any of it.

vmception 5y ago

Then learn. There is standardized education available now.

birracerveza 5y ago

How is you being unable (or unwilling) to understand an explanation of a domain you're unfamiliar with a problem with crypto?

choward 5y ago

I honestly thought it was satire at first.

peakaboo 5y ago

You are on the Internet - you can find out anything (uncensored). :) But yeah who has the time...

ur-whale 5y ago

>The problem with crypto is despite your explanation, I have no idea what any of your post means. Not any of it. Not entirely sure what point you're trying to make here. Or, in other words: the exact same thing happens to my 80 year old grandmother when I explain about my android phone. Doesn't make the device any less useful.

noduerme 5y ago
Well it makes it less useful if your grandmother can't use it to call you.
- NoboruWataya 5y ago
  ... or if your grandmother tries to use it and loses half a million dollars.
  - noduerme 5y ago
    if my nans had that kinda money she'd have an iPhone.
    - CRConrad 5y ago
      And still not be able to call you. (And/or still be able to lose half a million dollars.)
khazhoux 5y ago
Do we really think women with grandchildren can’t understand Android phones?
- deleted 5y ago
  [deleted]
- kuhewa 5y ago
  Yeah i reckon some 80 year old grandmothers struggle with some Android functions.
  - sgt 5y ago
    I have seen real proof of this. The only reason "regular" people buy Android is to save money, but it becomes a support issue for their children and grandchildren. I've made sure my entire family is on iPhone. My mom could never figure out the bottom three buttons on Android. iOS makes more sense to her.
    - recursive 5y ago
      Counterexample: me. I'd pay double to get a phone that didn't have its on it.

kkjjkgjjgg 5y ago

Ethereum, not crypto. Bitcoin is less complex by choice.

verytrivial 5y ago

This is apparently a feature, not a bug.

m3kw9 5y ago
“Feature”

masklinn 5y ago

From what I understood of afidrya explanation (in a sub-comment): * there's a smart contract to which you can send ETH (directly), it sends WETH back * however the inverse operation (WETH -> ETH) is not done by sending the WETH, you're supposed to call a special conversion function of the contract I guess the smart contract only looks for ETH in its wallet (at its address), it ignores the WETH entirely, and thus the WETH become inaccessible. So the contract is a deposit ATM where you can deposit cash and it spits out a bank check, but if you deposit a bank check it just shreds the check. Or a currency conversion machine where you can shove USDs in the slot to get EURs, but if you shove EURs in, to the shredder they go,

deleted 5y ago
[deleted]
jaclaz 5y ago
>So the contract is a deposit ATM where you can deposit cash and it spits out a bank check, but if you deposit a bank check it just shreds the check. >Or a currency conversion machine where you can shove USDs in the slot to get EURs, but if you shove EURs in, to the shredder they go, Very good explanation, thanks, though the machine you describe would not probably be called a "smart" ATM.
tetha 5y ago
> Or a currency conversion machine where you can shove USDs in the slot to get EURs, but if you shove EURs in, to the shredder they go, This example is kinda funny. If your bank notes were accidentally damaged in germany, you could send them to the federal bank and have them replaced as long as more than half of the bank note can be reconstructed. This is a service intended especially for victims of fire or flood catastrophes, though dog related accidents aren't unheard of either.
- masklinn 5y ago
  AFAIK it's the same in the US (the US mint is in charge of both producing and destroying money), because treasuries want to keep track of the physical money supply.

iqanq 5y ago

You are expecting to understand how a completely new and complex technology works from 5 lines of text. Imagine if someone tried to explain Kubernetes to you in 5 lines of text.

danjac 5y ago
Sure, but celebrities and grifters aren't pushing the general public to adopt Kubernetes or bet their life savings on their understanding of it.
- PretzelPirate 5y ago
  There certainly is a different group who pushes Kubernetes as the savior of DevOps. I’ve seen this put plenty of pressure on teams to adopt it and they’ve gone in too fast, resulting in downtime, security issues, and huge operational costs. These are real costs and can have an affect on someone’s home life and career prospects within their company. I’ve had to go in and save quite a few of these people, and they were pretty miserable. We shouldn’t shill any technology, and anytime we do talk about it’s virtues we should discuss its shortcomings and why people should be hesitant to use it.
  - danjac 5y ago
    Agreed - but Kubernetes won't result in you losing half a million of your assets in an instant. I mean unless you decide to use Amazon EKS for a side project of course...
saboot 5y ago
Let's try. I don't know what kubernetes does. Can anyone explain in five lines of text?
- doteka 5y ago
  It abstracts away underlying hardware, leaving you with a convenient set of abstractions for deploying containerized networked services. Sort of an OS for a cluster of distributed machines. Unfortunately this involves lots of YAML. How’d I do?

colesantiago 5y ago

TL;DR: He completely lost his money by entering the wrong details rather than testing payment first.

freemint 5y ago
He tested it by converting Euros to Dollars first, used it for a while and then put Dollars in to the same machine and they were shredded. He did test but using the wrong mental model.
- dahart 5y ago
  Why do we have a machine that shreds any dollars? Who anywhere is interested in a dollar shredding feature?
  - marcosdumay 5y ago
    That's the correct question. The supporters here are saying "yeah, it shreds dollars, he should have known that". And yeah, if you have a machine that shreds dollars, you better know what it does. That's a good reason for not having such a machine. Anyway, ETH seems to be full of those features where it shreds money on places that are really not obvious and sometimes gets every single person by surprise.
  - CRConrad 5y ago
    > Why do we have a machine that shreds any dollars? Fuck knows. No legit reason that I can see; because cryptards are idiots, is the only thing that comes to mind. > Who anywhere is interested in a dollar shredding feature? Nobody with the least bit of sense. (But, see above...) That's why he was complaining about it.

quickthrower2 5y ago

This is not necessary a problem? If someone waxes lyrical about nodes, pods, containers and ingress and you know nothing of kubernetes it will sound like jargon soup. But people can understand kubernetes and build services with them, and present UIs using these elements that ordinary people can use.

erikbye 5y ago

Don't judge crypto by one person's poor explanation of how smart contracts and wrapped tokens work.

CRConrad 5y ago
Judge it, in stead, by the fact that it makes it possible to set up automatic money shredders.

bigtex88 5y ago

Ok so the problem then seems to be with your understanding of the space, not with crypto itself. I don't go to a geneticist and go "the problem with genetics is I have no idea what any of it means".

widjit 5y ago
Humans didn't design genetics, it's a chaotic and confusing system that evolved by chance. If you are seriously comparing your monetary system to something that evolved by chance there is a problem with your monetary system.
dahart 5y ago
This isn’t genetics, it’s money. Crypto needs to be simple enough for everyone to understand before it can be adopted by everyone. My kids understand stocks and back transfers, while incredibly smart and savvy people are getting confused about crypto and losing money accidentally (it’s not just this single incident, it’s a common story). This isn’t good, and shouldn’t be dismissed as people having unreasonable expectations.
- vmception 5y ago
  That contract could have been designed better. That user could have used it how other people use it. There are a lot of things here that have nothing to do with “crypto needs to be simpler” copypasta. This particular thing was not simple and never will be unless everyone stops using it. Focus on that one thing: How to design a better smart contract? How to design a better UI for the end user? Thats a great discussion for a programming forum actually.
  - CRConrad 5y ago
    > This particular thing was not simple and never will be The user used a currency-exchanging thing, sent it a currency it shouldn't accept as input, and it swallowed his currency in stead of rejecting it. What's "not simple and never will be" about that? Seems utterly simple to me: The currency-exchanging thing didn't work as it fucking obviously should. And the cryptards have the unmitigated gall to call this shit "smart"... Sigh. Geroffmylawn.