hnthrow1010

14 ms·

91.
by hnthrow1010 4y ago
I love this take because it's almost there but it's narrowly missing the point just to draw a huge straw man. Ransomware is not specifically enabled by cryptography. It's enabled by people providing "money laundering as
92.
by hnthrow1010 4y ago
Neither did various crypto scams. The big exchanges that the regulators will go after are all centralized.
93.
by hnthrow1010 4y ago
>They cannot devalue your token. Actually they can, they can technically just print more BTC by changing the protocol. Also I should remind you, Elon Musk (who is not even a miner) can devalue your token just by making a few tweets. >
94.
by hnthrow1010 4y ago
And several crypto exchanges/lenders have totally collapsed or rug pulled in the last 10 years. Trusting crypto is not "trusting ECDSA and Schnorr" any more than you would be trusting the bank to use those same algorithms, yo
95.
by hnthrow1010 4y ago
>I have to trust that at least 51% of validators are honest Those 51% are third parties. Full stop. There is no difference. You don't control them, they are not you, they are not your friends. They're third parties. You can arg
96.
by hnthrow1010 4y ago
I would argue that cryptocurrency is tripling/quadrupling/quintupling down on stupidity, it's obvious from taking a single look at the ecosystem that nothing works. It's overloaded with scams, it's not actually dece
97.
by hnthrow1010 4y ago
Using a blockchain is literally trusting a third party. Blockchains require third party miners/validators to run the chain. The idea that blockchains will change anything about this is a pipe dream. The design of them simply makes it i
98.
by hnthrow1010 4y ago
That's only because Binance is just operating as an unregulated bank there. It is also extremely easy to lose all your money that way because the coin you chose to transact in plummeted, or the exchange decided to freeze your account,
99.
by hnthrow1010 4y ago
If he was really worried about that, he should've just shut it down himself to save us all some trouble.
100.
by hnthrow1010 4y ago
>You broadcast it at the swarm that can present the highest valid block that satisfies the difficulty equation. And you have to trust that the swarm will not drop your transaction or devalue your tokens through various means that they ha
101.
by hnthrow1010 4y ago
Speaking as someone who has been harmed by ransomware, no, it is very much not a good thing. But presuming it was a good thing that I get my data held for ransom, there's no explanation as to why blockchains are uniquely suited to remo
102.
by hnthrow1010 4y ago
But that isn't answering the question. You're just saying blockchains are good "because slippery slope" without mentioning what they actually do.
103.
by hnthrow1010 4y ago
Actually no, you're way off here in multiple ways. My statement from the beginning was that political solutions are required for political problems. "Money for political solutions" is usually described as "lobbying"
104.
by hnthrow1010 4y ago
No, laying out a power grid is very much not a private sector thing. In most stable countries, the grid is either operated outright by the government or the government leases the grid out to the private sector. The same thing is true with t
105.
by hnthrow1010 4y ago
That has absolutely nothing to do with what I said. Again, if the government really doesn't want you to rent a hall or host a website, they'll just arrest you. I really don't know how you draw the line from that to saying &qu
106.
by hnthrow1010 4y ago
I don't want or not want that, it is simply a thing that could happen if there was enough reason for it to happen. If we're lucky it won't have to happen; cryptocurrency will simply collapse under its own weight because of th
107.
by hnthrow1010 4y ago
Many things wrong with that: - Cryptocurrency is not state-free money. Among other things, it requires functioning infrastructure, stable electricity and internet available at affordable prices. These things are provided by the government e
108.
by hnthrow1010 4y ago
I just explained this, the miners will listen to you under threat of being shut down. The miners will generally be located in countries where electricity is abundant and cheap, the kind of countries who have all the incentives to sign a tre
109.
by hnthrow1010 4y ago
What you're saying makes no sense, storing your money in crypto is like putting it in a even less trustworthy foreign bank.
110.
by hnthrow1010 4y ago
You're playing a semantic game here. Yes, technically if criminals are using it, it's not "useless". To the rest of us, it's actually worse than useless because the criminal activity is a net negative on society. Th
111.
by hnthrow1010 4y ago
>Democratized access to money means that I can move my life savings as a refugee from a war torn country This has nothing to do with cryptocurrencies, blockchains, or "democratized access" at all. What you're suggesting is
112.
by hnthrow1010 4y ago
They can use it for that reason, it doesn't mean that blockchains are actually solving that problem. It only means regulators haven't caught up to them yet. A lot of drug transactions still appear to be made in cash. >Access to
113.
by hnthrow1010 4y ago
That changes nothing. They will just tell the miners to block those transactions, and threaten to confiscate their equipment if they don't.
114.
by hnthrow1010 4y ago
A couple things wrong with that. - They were "economically de-personed" because the protest was deemed illegal. All governments have the ability to "economically de-person" someone by arresting and jailing them. Cryptocu
115.
by hnthrow1010 4y ago
The crypto landscape never had any real stated goals that I can determine, beyond pipe dreams. Its founder Satoshi abandoned it in 2011. It's evident that blockchains do not solve any real problems, and I'm glad more people are re
116.
by hnthrow1010 4y ago
>being able to trade with whoever you want, regardless of jurisdiction That has absolutely nothing to do with blockchains at all. Blockchains do not enable that, they have never enabled it. You can indeed build a service that does that w
117.
by hnthrow1010 4y ago
>there are FAR too many completely worthless coins floating around that serve absolutely no purpose and still trade at ridiculous nominal USD values Correction: No cryptocoins have any value or serve any purpose, besides gambling and fra
118.
by hnthrow1010 4y ago
What exactly do you mean? Say the university hired you to do the job, I assume you have a budget & headcount ready?
119.
by hnthrow1010 4y ago
>then cryptocurrencies are not for you. What this means to me is that cryptocurrencies are not for anybody. We don't have to create digital systems with the limitations of cash. We haven't had to do that for decades. Now there&
120.
by hnthrow1010 4y ago
The "quiet part" that crypto builders won't say loudly about this is that they aren't trying to solve technical problems with real estate transactions. They're trying to make it so you can have real estate transacti

More ›