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Ah yes, cryptocurrency: built on an immutable ledger so that your money is safely secured by your private key until the project devs decide it’s not.
by akerl_ 6mo ago
Ah yes, cryptocurrency: built on an immutable ledger so that your money is safely secured by your private key until the project devs decide it’s not.
- hypeman1 6mo agoEverything is safe until it isn’t
- akerl_ 6mo agoWell yea. But so much of the bitcoin/crypto was specifically built on the idea that technology and “decentralized” blockchains were the right and necessary solution to protect us from this kind of centralized human manipulation.
- deleted 6mo ago[deleted]
- andirk 6mo agoThe article states it's just a fork, AKA a separate coin that copy/pastes the current Bitcoin ledger. Even if every dev wants this, that is a "hard fork" (not backwards compatible), and creates a new version of the coin. Ex: if you want to add a smiley face to some Bitcoin log output, you 1) make the change, and 2) nothing happens until 3) miners agree to use that new version. Look into "Bitcoin Cash", a near identical coin except it has a larger block size. Completely different token and therefore has 0 effect on Bitcoin.
- akerl_ 6mo agoMight be more illuminating to look at Ethereum Classic. How’s that doing after the fork led by the central owners of a decentralized blockchain, initiated to reallocate a big pile of money that the devs didn’t think was in the right spot?