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> that people NEED All the depositors have the extremely pressing NEED of not having all their deposits stolen from them. Blockchains mathematically prevent f

> that people NEED All the depositors have the extremely pressing NEED of not having all their deposits stolen from them. Blockchains mathematically prevent fraudulent misuse of deposits. People aren't mad about SBF taking a wrench to their head. They're mad about SBF defrauding them. Could not have happened on a blockchain.

mrhands556 4y ago
> Blockchains mathematically prevent the misuse of deposits Depending on the argument I hear that the ledger is anonymous or not anonymous.
- siftrics 4y ago
  Anonymity is completely separate. Anonymity has nothing to do with the property that you cannot steal on the blockchain. How do you think blockchains even work? Read primary sources before vaguely disagreeing.
  - mrhands556 4y ago
    I assume you’re saying the way they prevent misuse is because the ledger is public and it’s trackable by anyone who wants to look at the ledger. If I’ve mistaken your argument then please correct me. I’m familiar with blockchain and have contributed to multiple projects in the open source community back when I saw potential and promise in blockchain tech.
    - siftrics 4y ago
      Yes, you're mistaken. If you're the only person with the private key, you're the only person who can move the funds. It's math. Unless you have a mathematical argument as to how to move funds without the private key, you're ignorant and uninformed.
      - mrhands556 4y ago
        If you’re depositing into a bank or exchange it’s not like 1 person is controlling that entire entities wallet(s). Deposits have the same risk of being misused in crypto as in fiat.
        siftrics 4y ago
        DEXs exist. What you are talking about has nothing to do with blockchains or self-custody. Again, read primary sources and learn fundamental concepts before vaguely disagreeing.
EamonnMR 4y ago
So the killer app for crypto is....not getting ripped off via crypto?

mrhands556 4y ago

> Blockchains mathematically prevent the misuse of deposits Depending on the argument I hear that the ledger is anonymous or not anonymous.

siftrics 4y ago
Anonymity is completely separate. Anonymity has nothing to do with the property that you cannot steal on the blockchain. How do you think blockchains even work? Read primary sources before vaguely disagreeing.
- mrhands556 4y ago
  I assume you’re saying the way they prevent misuse is because the ledger is public and it’s trackable by anyone who wants to look at the ledger. If I’ve mistaken your argument then please correct me. I’m familiar with blockchain and have contributed to multiple projects in the open source community back when I saw potential and promise in blockchain tech.
  - siftrics 4y ago
    Yes, you're mistaken. If you're the only person with the private key, you're the only person who can move the funds. It's math. Unless you have a mathematical argument as to how to move funds without the private key, you're ignorant and uninformed.
    - mrhands556 4y ago
      If you’re depositing into a bank or exchange it’s not like 1 person is controlling that entire entities wallet(s). Deposits have the same risk of being misused in crypto as in fiat.
      - siftrics 4y ago
        DEXs exist. What you are talking about has nothing to do with blockchains or self-custody. Again, read primary sources and learn fundamental concepts before vaguely disagreeing.

EamonnMR 4y ago

So the killer app for crypto is....not getting ripped off via crypto?