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Crypto is a solution to establishing trust in a decentralized ledger system: proof of stake and proof of work prevent people from adding fake transactions to th
by kouru225 2y ago
Crypto is a solution to establishing trust in a decentralized ledger system: proof of stake and proof of work prevent people from adding fake transactions to the blockchain.
It’s just a natural consequence that this creates scarcity.
- pyinstallwoes 2y agoIt doesn’t establish trust. It’s the opposite of trust. It establishes paranoia, and even then, how can you be sure your screen is the truth?
- persnickety 2y agoIt establishes both trust by separating it from mistrust (paranoia if you will) by making the division explicit and assigning trust to some people and operations and not others. If you think it's concerned about screens, you're wrong. It's concerned about "did this person really do this"?
- pyinstallwoes 2y agoDo you understand that you are trusting your screen?
- persnickety 2y agoDo you also blame the post office when someone breaks into your post box?
- pyinstallwoes 2y agoCan you build a post box? Can you build a computer and the software?
- persnickety 2y agoA screen isn't software. And indeed, I can't. There are specific parties concerned with building postboxes and screens, and those have no reason to be the same as those delivering mail or writing blockchain software.
- kouru225 2y agoI mean you might as well just throw out all computers then.
- HeatrayEnjoyer 2y agoWhat practical advantages are there to a decentralized ledger? Does it offer the trust that centralized ledgers and legal avenues do?
- kouru225 2y agoThe same advantages of all decentralization. You could say the same things about crypto that youd say about open source