5 ms·

Crypto isn't required for this. It doesn't even help.

by danielmarkbruce 4y ago

Anon1096 4y ago
Smart contracts is what makes it possible.
- dmitriid 4y ago
  They are neither smart, nor contracts. They are pieces of code written in an esoteric language running in world's most inefficient and expensive VMs where every single operation is billed to the user.
  - latchkey 4y ago
    Oh yea, that's definitely the end of the world and can never be improved upon. https://ewasm.readthedocs.io/en/mkdocs/ https://ewasm.readthedocs.io/en/mkdocs/
  - pcthrowaway 4y ago
    > They are neither smart Well certainly not the way I write them. Anyway, this is like arguing a lazy susan is neither lazy, nor involves anyone named Susan. If you know what "smart contracts" as a phrase refers to, I don't understand why you keep bringing this up on HN. We're intelligent enough here to discern that "smart contracts" isn't referring to sentient documents
    - dmitriid 4y ago
      Ah yes. "We're intelligent enough" in a subthread that starts with "smart contracts make [distributed computing and whatever else] possible".
- danielmarkbruce 4y ago
  It was possible already. BOINC (and dozens of others) do this. Smart contracts might be one way to implement it, but it isn't required and doesn't appear to be an improvement on any dimension that people outside crypto care about.
latchkey 4y ago
That's your personal opinion, but you're not helping the discourse by answering 'why' it isn't required or even help. Let's step outside of the box for a moment. If I'm in some other country and I don't have easy access to a credit card and I want to build out the next cool idea, how do I get access to scalable compute?
- albertopv 4y ago
  If you are a starter, how do you buy crypto without credit card, bank account or similar?
  - latchkey 4y ago
    P2P transactions is one way. There are crypto ATMs all over too. I have a lot of experience in the Vietnam market. Most people there don't have credit cards, but they do have bank accounts and can easily buy crypto from a variety of sites... binance, remitano, localbitcoins, bitcoinvn, etc... Once you get outside the US, a lot of things open up quite a bit. Especially in developing nations.
  - tromp 4y ago
    Many people started in Bitcoin by mining.
    - latchkey 4y ago
      Raises hand! 2014. =) Still mining today (ETH).
  - pcthrowaway 4y ago
    I'll add, you can also bootstrap a crypto balance by trading labor, even anonymously
- danielmarkbruce 4y ago
  Because you can use a central authority (ie, company, any organization really). "Distributed computing" doesn't mean no central authority. With a central authority it's easier to build and has lower transaction costs. If someone has a bank account, they can get paid, in your scheme. They don't need a credit card.

Crypto isn't required for this. It doesn't even help.

Anon1096 4y ago

Smart contracts is what makes it possible.

dmitriid 4y ago
They are neither smart, nor contracts. They are pieces of code written in an esoteric language running in world's most inefficient and expensive VMs where every single operation is billed to the user.
- latchkey 4y ago
  Oh yea, that's definitely the end of the world and can never be improved upon. https://ewasm.readthedocs.io/en/mkdocs/ https://ewasm.readthedocs.io/en/mkdocs/
- pcthrowaway 4y ago
  > They are neither smart Well certainly not the way I write them. Anyway, this is like arguing a lazy susan is neither lazy, nor involves anyone named Susan. If you know what "smart contracts" as a phrase refers to, I don't understand why you keep bringing this up on HN. We're intelligent enough here to discern that "smart contracts" isn't referring to sentient documents
  - dmitriid 4y ago
    Ah yes. "We're intelligent enough" in a subthread that starts with "smart contracts make [distributed computing and whatever else] possible".
danielmarkbruce 4y ago
It was possible already. BOINC (and dozens of others) do this. Smart contracts might be one way to implement it, but it isn't required and doesn't appear to be an improvement on any dimension that people outside crypto care about.

latchkey 4y ago

That's your personal opinion, but you're not helping the discourse by answering 'why' it isn't required or even help. Let's step outside of the box for a moment. If I'm in some other country and I don't have easy access to a credit card and I want to build out the next cool idea, how do I get access to scalable compute?

albertopv 4y ago
If you are a starter, how do you buy crypto without credit card, bank account or similar?
- latchkey 4y ago
  P2P transactions is one way. There are crypto ATMs all over too. I have a lot of experience in the Vietnam market. Most people there don't have credit cards, but they do have bank accounts and can easily buy crypto from a variety of sites... binance, remitano, localbitcoins, bitcoinvn, etc... Once you get outside the US, a lot of things open up quite a bit. Especially in developing nations.
- tromp 4y ago
  Many people started in Bitcoin by mining.
  - latchkey 4y ago
    Raises hand! 2014. =) Still mining today (ETH).
- pcthrowaway 4y ago
  I'll add, you can also bootstrap a crypto balance by trading labor, even anonymously
danielmarkbruce 4y ago
Because you can use a central authority (ie, company, any organization really). "Distributed computing" doesn't mean no central authority. With a central authority it's easier to build and has lower transaction costs. If someone has a bank account, they can get paid, in your scheme. They don't need a credit card.