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> Just con artists, grifters, and the occasional ransomware connoisseur. I get it, you have a vested interest in people not realizing this and letting the whole

> Just con artists, grifters, and the occasional ransomware connoisseur. I get it, you have a vested interest in people not realizing this and letting the whole "economy" collapse. I beg your pardon? I am very aware of all of the fraudsters and rug pullers in cryptocurrency. Do you think I like them? Just as with the fraudsters in FED-world, I hope they all get sent to jail for the crimes they pull. There are criminals, frausters, and grifters, in any economic system of a meaningful size. It's just reality, and acting shocked about this doesn't make any sense. As for "letting the whole 'economy' collapse", what on Earth are you talking about? I do not want the cryptocurrency economy to collapse, I want to see it grow. I think it's doing many incredibly important valuable things, like freeing humanity from digital slavery, and securing the Internet's broken X.509 system. As for using a SQL DB - it sounds to me like you do not understand what cryptocurrencies are, why they exist, and why they are designed the way that they are. There are plenty of high-quality, free explainers out there, so I won't bore you with one here.

OkayPhysicist 3y ago
> As for using a SQL DB - it sounds to me like you do not understand what cryptocurrencies are, why they exist, and why they are designed the way that they are. There are plenty of high-quality, free explainers out there, so I won't bore you with one here. "Do not cite the old magic at me, Witch". I am acutely acquainted with the concept of how cryptocurrencies work, which I must assume you aren't by your failure to engage in my very well suited analogy. The blockchain is a database. It's a kinda shitty one, in that there are higher performance, distributed, append-only databases, except for it's unique feature of being trust-less. Cryptocurrency builds on this technology by shoving transaction details in this database. So, the only thing cryptocurrency has going for it over a well-sharded PostegreSQL DB is that lack of trust. If everybody has to trust one or more parties anyway, then there is no need for a blockchain. To quickly address your other attempts to refute what I said: I'm not offended that there are fraudsters in the cryptocurrency space. I'm concerned with the fact that there are only fraudsters in the cryptocurrency space. If no one is using cryptocurrency for anything but speculation and crime, then the entire thing is a net harm to society. It's a somewhat-legal pyramid scheme (speculation) containing a multitude of illegal pyramid schemes, in addition to an assortment of other scams. And I said you, you personally, have a vested interest in cryptocurrency continuing to exist. I'm presuming from your defense of the system that you are, like many others, engaged in the speculation on cryptocurrency. I said I get it: It is in your best interest to disagree with me. Because without those defenses, the market won't be able to attract new ~~suckers~~ sorry, "investors", and the speculation bubble will pop, leaving you holding the bag. I don't wish that upon you, but the longer a pyramid scheme runs, the more innocent people will be hurt when it inevitably collapses under its own weight.
- gslepak 3y ago
  > If everybody has to trust one or more parties anyway, then there is no need for a blockchain. You sound very confused. Everyone does not need to trust one party. The system as a whole is trusted, or should I say, more trustworthy, because of its trustless nature. If you do not trust yourself to be the custodian of your own cryptocurrency, you are free to trust someone else instead. > I'm concerned with the fact that there are only fraudsters in the cryptocurrency space. That's just a lie and you know it. It doesn't sound like you are interested in a good-faith discussion, but are interested primarily in hating on cryptocurrencies. Anyway, you will be a user of cryptocurrencies in short time (as I mentioned above: https://news.ycombinator.com/item?id=37163640 https://news.ycombinator.com/item?id=37163640 and here: https://news.ycombinator.com/item?id=37168477 https://news.ycombinator.com/item?id=37168477), so this conversation is somewhat silly. > Because without those defenses, the market won't be able to attract new ~~suckers~~ sorry, "investors", and the speculation bubble will pop, leaving you holding the bag. This again reveals your ignorance of cryptocurrencies. You are angry at something you do not understand. Do you display this sort of anger towards commodities too? If not, why not? They are no different from many cryptocurrencies. What about dollar bills? Do you start cursing at them?

OkayPhysicist 3y ago

> As for using a SQL DB - it sounds to me like you do not understand what cryptocurrencies are, why they exist, and why they are designed the way that they are. There are plenty of high-quality, free explainers out there, so I won't bore you with one here. "Do not cite the old magic at me, Witch". I am acutely acquainted with the concept of how cryptocurrencies work, which I must assume you aren't by your failure to engage in my very well suited analogy. The blockchain is a database. It's a kinda shitty one, in that there are higher performance, distributed, append-only databases, except for it's unique feature of being trust-less. Cryptocurrency builds on this technology by shoving transaction details in this database. So, the only thing cryptocurrency has going for it over a well-sharded PostegreSQL DB is that lack of trust. If everybody has to trust one or more parties anyway, then there is no need for a blockchain. To quickly address your other attempts to refute what I said: I'm not offended that there are fraudsters in the cryptocurrency space. I'm concerned with the fact that there are only fraudsters in the cryptocurrency space. If no one is using cryptocurrency for anything but speculation and crime, then the entire thing is a net harm to society. It's a somewhat-legal pyramid scheme (speculation) containing a multitude of illegal pyramid schemes, in addition to an assortment of other scams. And I said you, you personally, have a vested interest in cryptocurrency continuing to exist. I'm presuming from your defense of the system that you are, like many others, engaged in the speculation on cryptocurrency. I said I get it: It is in your best interest to disagree with me. Because without those defenses, the market won't be able to attract new ~~suckers~~ sorry, "investors", and the speculation bubble will pop, leaving you holding the bag. I don't wish that upon you, but the longer a pyramid scheme runs, the more innocent people will be hurt when it inevitably collapses under its own weight.

gslepak 3y ago
> If everybody has to trust one or more parties anyway, then there is no need for a blockchain. You sound very confused. Everyone does not need to trust one party. The system as a whole is trusted, or should I say, more trustworthy, because of its trustless nature. If you do not trust yourself to be the custodian of your own cryptocurrency, you are free to trust someone else instead. > I'm concerned with the fact that there are only fraudsters in the cryptocurrency space. That's just a lie and you know it. It doesn't sound like you are interested in a good-faith discussion, but are interested primarily in hating on cryptocurrencies. Anyway, you will be a user of cryptocurrencies in short time (as I mentioned above: https://news.ycombinator.com/item?id=37163640 https://news.ycombinator.com/item?id=37163640 and here: https://news.ycombinator.com/item?id=37168477 https://news.ycombinator.com/item?id=37168477), so this conversation is somewhat silly. > Because without those defenses, the market won't be able to attract new ~~suckers~~ sorry, "investors", and the speculation bubble will pop, leaving you holding the bag. This again reveals your ignorance of cryptocurrencies. You are angry at something you do not understand. Do you display this sort of anger towards commodities too? If not, why not? They are no different from many cryptocurrencies. What about dollar bills? Do you start cursing at them?