hnthrow1010

13 ms·

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by hnthrow1010 4y ago
>Who pays volunteers on Wikipedia, Linux, BSD, Webkit, Chromium, PHP, Python In order: Wikimedia Foundation, various companies, various companies, Apple, Google, various companies, various companies. Most of those developers are paid. Th
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by hnthrow1010 4y ago
The current plague of cryptocurrency proves that, by itself, the mere fact of the market being open source and decentralized doesn't do anything useful; it even makes it worse in a lot of ways. The scammers will do exactly the same thi
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by hnthrow1010 4y ago
The sanctions will also be blocking the legal crypto exchanges from dealing with them as well. So that isn't going to work either. You might respond that you'll just use an illegal crypto exchange, but from that perspective it&#x2
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by hnthrow1010 4y ago
Hello, I read your twitter thread. While privacy is absolutely important, your reasoning is fundamentally flawed. In the context of financial transactions, we know from a ridiculous amount of history with banking regulations that it's
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by hnthrow1010 4y ago
Or just trade it for some other asset or currency that isn't crypto? Why are those your only two options? I don't understand how you jumped from "I need to trade something" to "my only option is cash or crypto"
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by hnthrow1010 4y ago
>but I think the more efficient structures that lead to transactional bottlenecks and are necessary in things like Bitcoin are technical problems that can and I think have been worked out in currencies like Monero That might be true, but
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by hnthrow1010 4y ago
>it already solves real problems. That's not true though. Crypto currencies do not solve any real problems in any meaningful sense. The problems it solves are all either problems that were created by crypto itself, due to the insist
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by hnthrow1010 4y ago
>The Oracle Problem is already incredibly obvious It apparently was not obvious enough to the multiple crypto companies I've seen both simultaneously making promises about "decentralization", while hyping up the security g
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by hnthrow1010 4y ago
Crypto tokens are absolutely a scammy MLM or ponzi scheme. They're not investments. No profit is derived from the token itself, no one is holding bitcoins to do useful work with them. The value comes entirely from speculation and from
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by hnthrow1010 4y ago
>That's true for practically every asset class No, this is false. With stocks, the holder can get paid in dividends. With real estate, you gain value from actually using the land. A bond is actually a form of credit. Et cetera. Whic
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by hnthrow1010 4y ago
>I think there's room for some amazing cryptotech to emerge from the rubble. I don't. There is no purpose to "crypto tech" besides gambling on the price of some unregulated token, it is completely useless otherwise. T
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by hnthrow1010 4y ago
The idea that Bitcoin has no leaders is a big lie that these regulators should be able to see through. You can take look at any of the well-known whales to see obvious evidence against that claim. They make the claim because it allows them
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by hnthrow1010 4y ago
>even in the comment you just wrote, you’re still arguing a different point than what you originally said. this time you’ve shifted from “cannot be used to do” to “cannot do”. I think it is clear enough that I meant the same thing. If th
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by hnthrow1010 4y ago
It is really not surprising that the term got overloaded when the underlying principle is the same: put money down, do nothing, then come back and your money is magically multiplied. It is as blatant a scam as they come, except the scam is
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by hnthrow1010 4y ago
>Right now it's by far the best method to send money accross the globe. No it is not. In banking and in payments, security typically means that there are guarantees your money will not suddenly disappear or get stolen by hacks and f
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by hnthrow1010 4y ago
Blockchains indeed cannot do that, those things are added on separately, they exist independently of blockchains, and have uses outside of it. If this is hard to understand, let me illustrate with a more clear example. Some blockchains have
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by hnthrow1010 4y ago
No, what you're leaving out is that they work just fine without blockchains. The addition of blockchains just makes them worse.
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by hnthrow1010 4y ago
I would have no problem with NFTs if they were simply billed as a useless "collectible" thing sitting in an account that you can use as an excuse to show off how you donated to an artist. But from that perspective, you don't
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by hnthrow1010 4y ago
The problem with that is, these networks are rather convoluted and are basically unusable for most people without relying on exchanges or other similar services.
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by hnthrow1010 4y ago
The short answers are: they don't, no, and it doesn't. Some NFTs do have a separate legal document saying you get a copyright license (or maybe even the copyright) if you "own" the NFT, but this is not required, and is e
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by hnthrow1010 4y ago
>Crypto does solve a few real world issues (fast, global, cheap, secure, anonymized transfer of value). Crypto does not solve any of those issues. The actual solution to most of those issues is called a "payment service" of whi
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by hnthrow1010 4y ago
>People used to discuss amazingly cool tech stuff: like SSL oracles or privacy-preserving payment protocols. Now it's all about what the price is and moronic NFTs. It's embarrassing. It is because blockchains cannot actually be
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by hnthrow1010 4y ago
Cryptocurrency is not a better rail. In fact it is a worse rail for almost everything. But it is the only rail that currently allows people to do this at the scale it does, due to its operators openly welcoming unlimited amounts of money la
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by hnthrow1010 4y ago
No, you are looking at this totally the wrong way. I don't "dream" of the state defeating things. This is basic threat analysis, it does you no good to avoid doing it. Being "confident" that something will happen in
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by hnthrow1010 4y ago
>Yes, and I tell people not to store on exchanges, take custody of their coin The reality is most people will not do that as it is a massive PITA. You can observe this right now. >There are other ways to buy and trade coin too. Earnin
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by hnthrow1010 4y ago
"Transparency" does nothing when the scammers are so emboldened they commit fraud in broad daylight because they know the regulators aren't paying attention and they can make off with the money faster than you can analyze the
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by hnthrow1010 4y ago
>I philosophically disagree with denying ourselves something because someone somewhere can do crime. That's not why we should deny cryptocurrency. We should deny it because it is fundamentally bad, it serves no purpose besides scamm
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by hnthrow1010 4y ago
No, this is totally wrong, you didn't think this through. They don't need to do that. They could just copy the files to their own machine, delete them, then send them back when you pay the ransom. Encryption certainly makes it eas
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by hnthrow1010 4y ago
If you're caught committing crimes (like for instance, using the computers to arrange transactions of human trafficking) and you invoke a standoff and shootout with the police, then yes, they probably will. That's true with or wit
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by hnthrow1010 4y ago
>I also know history, probably better than most on this board. I should remind you again, past performance is not an indicator of future results. The history might give you clues, but it can't point you to a guarantee of what will h

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