hnthrow1010

16 ms·

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by hnthrow1010 4y ago
>Now we might have a chance to build a better financial system. Not with blockchains we don't. They're also doomed to fail, and not working. A system where your money loses 25% of its value in a day its completely unusable for
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by hnthrow1010 4y ago
>it's no more unfair than any other perceived correlation between uptime and trustworthiness. I am saying that correlation inherently makes no sense. Uptime isn't the same as trustworthiness, that assumption is only made becau
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by hnthrow1010 4y ago
>Crypto, outside of an exchange, means I can send money to anyone I want, and no other entity can prevent that. No, this is extremely false. The miners/stakers can prevent that by blacklisting your wallet address. You might be think
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by hnthrow1010 4y ago
That's not a rude comment. Regardless of how much money he made or didn't make from the endeavor, Nakamoto still made many incorrect statements.
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by hnthrow1010 4y ago
>Which is itself possible by penalizing stake pools that go offline, thus motivating them to maximize uptime. This is still unfair to stakers that legitimately have infra disruptions. I have not seen any design for PoS that is actually f
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by hnthrow1010 4y ago
>It's technically possible to replace any blockchain with a database but where are you going to host it and who is the trusted central authority? Who is hosting the blockchain? Who is the trusted authority over the maintenance of th
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by hnthrow1010 4y ago
>This has no effect on the on-chain transaction, message, or application Sure, but you can't make those when you're locked in jail with no access to the internet. I believe this was made obvious all the way back in 2013 with th
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by hnthrow1010 4y ago
I find these type of things to be deeply unconvincing, not in the sense that these people aren't getting something out of it, but again because it is happening in spite of the fact that it's cryptocurrency. They aren't using
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by hnthrow1010 4y ago
>censorship, prove to us how you would go about censoring an Ethereum transaction please? Very simple, throw the wallet holder in jail. I don't know why you're asking this question, you should be able to answer the same questio
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by hnthrow1010 4y ago
The reality of the situation is that blockchains are a mostly useless and inefficient datastructure that by and large don't solve any real problems. I find it insulting that I can't say this without someone labeling me a "noc
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by hnthrow1010 4y ago
Well first of all, cryptocurrency isn't "censorship-resistant" any more than any other encrypted distributed system, so you can take that phrase out. Take a look at Tor or Freenet to see how this is done without the ponzi tok
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by hnthrow1010 4y ago
>Crypto has its uses. No, this is wrong. By itself it has no uses besides speculative gambling. The technology fundamentally doesn't enable anything else, if you take that out it's just a really niche and inefficient distribute