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Creating a public permanent record of having fallen for the latest crypto shitcoin will likely be too embarrassing for some. But then again I'm having trouble r

Creating a public permanent record of having fallen for the latest crypto shitcoin will likely be too embarrassing for some. But then again I'm having trouble relating. Successful "crypto startups" hardly exist, and most of those are selling shovels to suckers. What was the expectation here?

gruez 4y ago
Isn't it already "a public permanent record" because it's already in the news?
- t-3 4y ago
  A blockchain is already a public permanent record in the first place.
  - lumost 4y ago
    It won’t be once it shuts down. Blockchains are as permanent as the miners that power them.
    - vel0city 4y ago
      These were technically coins which were processed as smart contracts in Ethereum. Even if these coins "cease operations" their history will continue to exist in the Ethereum blockchain, forever.
      - RexM 4y ago
        At least until Ethereum goes tits up.
        lukifer 4y ago
        No, as long as at least one person chooses to host a full-node (or, just a torrent containing the entire historical chain). It's exceptionally unlikely that this information will cease to exist in our lifetimes.
      - anonymoushn 4y ago
        This is incorrect. Terra is a Cosmos chain. Some Luna and UST exists on other chains, but these tokens represent claims to tokens on Terra.
  - adventured 4y ago
    There's no such thing as a blockchain permanent public record. Some entity has to keep that up forever, maintained, public & accessible, for it to be such - that's not going to happen. Nearly all of them will fail and be wiped by time. And certainly all of them can go away, they're mere digital storage systems. There's nothing permanent about any of it, not by any stretch of the imagination. They're particularly, almost pathetically, temporary records. Most of these garbage coins will have no comprehensive financial records remaining several decades from now. By contrast, I know a lot of small businesses that have elaborate financial records going back 30-40 years, and the country is surely filled with similar (and most large corporations will have such).
    - lanstin 4y ago
      Time to donate to Internet Archive asking them to preserve final block state of as many chains as possible. Shouldn’t be too expensive, my laptop is a bitcoin node and lets be do all my work, and I guess the smaller chains are smaller in disk and compute and network.
- nvr219 4y ago
  It's in the news about this company, but it's not in the news that I fell for the scam for example.

gruez 4y ago

Isn't it already "a public permanent record" because it's already in the news?

t-3 4y ago
A blockchain is already a public permanent record in the first place.
- lumost 4y ago
  It won’t be once it shuts down. Blockchains are as permanent as the miners that power them.
  - vel0city 4y ago
    These were technically coins which were processed as smart contracts in Ethereum. Even if these coins "cease operations" their history will continue to exist in the Ethereum blockchain, forever.
    - RexM 4y ago
      At least until Ethereum goes tits up.
      - lukifer 4y ago
        No, as long as at least one person chooses to host a full-node (or, just a torrent containing the entire historical chain). It's exceptionally unlikely that this information will cease to exist in our lifetimes.
    - anonymoushn 4y ago
      This is incorrect. Terra is a Cosmos chain. Some Luna and UST exists on other chains, but these tokens represent claims to tokens on Terra.
- adventured 4y ago
  There's no such thing as a blockchain permanent public record. Some entity has to keep that up forever, maintained, public & accessible, for it to be such - that's not going to happen. Nearly all of them will fail and be wiped by time. And certainly all of them can go away, they're mere digital storage systems. There's nothing permanent about any of it, not by any stretch of the imagination. They're particularly, almost pathetically, temporary records. Most of these garbage coins will have no comprehensive financial records remaining several decades from now. By contrast, I know a lot of small businesses that have elaborate financial records going back 30-40 years, and the country is surely filled with similar (and most large corporations will have such).
  - lanstin 4y ago
    Time to donate to Internet Archive asking them to preserve final block state of as many chains as possible. Shouldn’t be too expensive, my laptop is a bitcoin node and lets be do all my work, and I guess the smaller chains are smaller in disk and compute and network.
nvr219 4y ago
It's in the news about this company, but it's not in the news that I fell for the scam for example.