26 ms·

Abso-fucking-lutely. The best time to not be involved in crypto was always, and the second best time is now. Get out now if you have any sense.

nobody9999 4y ago
>Abso-fucking-lutely. The best time to not be involved in crypto was always, and the second best time is now. Get out now if you have any sense. But I have drugs to buy and cannabis to smoke and joints to roll before I sleep.[0] More seriously, there are use cases for cryptocurrency (smart contracts are a different think, unaddressed here), they're just mostly illegal. Whether that illegality is appropriate or not is another question. That said, there are use cases for cryptocurrency. [0] With apologies to Robert Frost.
- dmitriid 4y ago
  > smart contracts are a different think, unaddressed here Let me address this, then: - they are not smart - they are not contracts - they are programs written in esoteric programming languages running on world's slowest and most inefficient VM - due to esoteric nature their own authors cannot find trivial bugs in their implementations that are exploited at scale which would make any real platform nonviable - cannot be updated or reverted because blockchain - have literally no use outside the virtual imaginary world of crypto - have zero legal standing, and cannot be enforced - in every single case would be more efficient and better served by Visual Basic running on a single Raspberry Pi from a sqlite database.
  - zeroclip 4y ago
    Do you really feel that Uniswap is better run with sqlite on a Raspberry Pi? If so, you are advocating for putting your money into a CEX, because somebody has to own and control that database and physical device.
    - dmitriid 4y ago
      > Do you really feel that Uniswap is better run with sqlite on a Raspberry Pi? Literally everything I wrote applies to Uniswap. > because somebody has to own and control that database and physical device. You've missed the point completely.
      - zeroclip 4y ago
        Your point is that centralized financial services on sqlite is good, decentralized protocols on a blockchain is bad? If that is your point, it's a funny one to make in a thread about a CEX collapsing.
        dmitriid 4y ago
        > Your point is that centralized financial services on sqlite is good, decentralized protocols on a blockchain is bad? Where exactly in this comment did I say that: https://news.ycombinator.com/item?id=33606218 https://news.ycombinator.com/item?id=33606218? > If that is your point, it's a funny one to make in a thread about a CEX collapsing. What's funny is inventing arguments for other people and valiantly fighting against them. "Smart contracts" were mentioned as "other uses of crypto currency, as yet unaddressed". I addressed them. I couldn't even care less how you made the illogical leap from that to whatever you accuse me of.
        zeroclip 4y ago
        Uniswap is a good application of smart contracts. Your comments explicitly suggest that Uniswap would be better run on something like sqlite, which needs a centralized owner, which is functionally the same as replacing a DEX with a CEX. > in every single case would be more efficient and better served by Visual Basic running on a single Raspberry Pi from a sqlite database
        dmitriid 4y ago
        Funny how out of 8 points listed, all you've latched onto a single one. Let me rewrite this on point in a single sentence "this ineffecient unenforceable bug-ridden fest that can only use the imaginary tokens can be run more efficiently from a single Raspberry Pi". Does this help?

nobody9999 4y ago

>Abso-fucking-lutely. The best time to not be involved in crypto was always, and the second best time is now. Get out now if you have any sense. But I have drugs to buy and cannabis to smoke and joints to roll before I sleep.[0] More seriously, there are use cases for cryptocurrency (smart contracts are a different think, unaddressed here), they're just mostly illegal. Whether that illegality is appropriate or not is another question. That said, there are use cases for cryptocurrency. [0] With apologies to Robert Frost.

dmitriid 4y ago
> smart contracts are a different think, unaddressed here Let me address this, then: - they are not smart - they are not contracts - they are programs written in esoteric programming languages running on world's slowest and most inefficient VM - due to esoteric nature their own authors cannot find trivial bugs in their implementations that are exploited at scale which would make any real platform nonviable - cannot be updated or reverted because blockchain - have literally no use outside the virtual imaginary world of crypto - have zero legal standing, and cannot be enforced - in every single case would be more efficient and better served by Visual Basic running on a single Raspberry Pi from a sqlite database.
- zeroclip 4y ago
  Do you really feel that Uniswap is better run with sqlite on a Raspberry Pi? If so, you are advocating for putting your money into a CEX, because somebody has to own and control that database and physical device.
  - dmitriid 4y ago
    > Do you really feel that Uniswap is better run with sqlite on a Raspberry Pi? Literally everything I wrote applies to Uniswap. > because somebody has to own and control that database and physical device. You've missed the point completely.
    - zeroclip 4y ago
      Your point is that centralized financial services on sqlite is good, decentralized protocols on a blockchain is bad? If that is your point, it's a funny one to make in a thread about a CEX collapsing.
      - dmitriid 4y ago
        > Your point is that centralized financial services on sqlite is good, decentralized protocols on a blockchain is bad? Where exactly in this comment did I say that: https://news.ycombinator.com/item?id=33606218 https://news.ycombinator.com/item?id=33606218? > If that is your point, it's a funny one to make in a thread about a CEX collapsing. What's funny is inventing arguments for other people and valiantly fighting against them. "Smart contracts" were mentioned as "other uses of crypto currency, as yet unaddressed". I addressed them. I couldn't even care less how you made the illogical leap from that to whatever you accuse me of.
        zeroclip 4y ago
        Uniswap is a good application of smart contracts. Your comments explicitly suggest that Uniswap would be better run on something like sqlite, which needs a centralized owner, which is functionally the same as replacing a DEX with a CEX. > in every single case would be more efficient and better served by Visual Basic running on a single Raspberry Pi from a sqlite database
        dmitriid 4y ago
        Funny how out of 8 points listed, all you've latched onto a single one. Let me rewrite this on point in a single sentence "this ineffecient unenforceable bug-ridden fest that can only use the imaginary tokens can be run more efficiently from a single Raspberry Pi". Does this help?