jhwang5

15 ms·

1. 121.▲
   by jhwang5 9y ago

   I think you should look up how stock dilution works, how that typically destroys share prices, etc. I would like to suggest learning how finance works, starting from Investopedia /s
2. 122.▲
   by jhwang5 9y ago

   miners baby
3. 123.▲
   by jhwang5 9y ago

   Yeah of course but what makes you think the other branch survives? No guarantees there.
4. 124.▲
   by jhwang5 9y ago

   You know miners can just make one software update and change that right?
5. 125.▲
   by jhwang5 9y ago

   Right, and personal computers would not be possible without the invention of metallurgy.
6. 126.▲
   by jhwang5 9y ago

   Sure, we can implement the good ideas behind Cardano to see if we can improve some areas of existing financial system. But I don't think the society needs to help pump cardano tokens.
7. 127.▲
   by jhwang5 9y ago

   I think relational databases and airplanes were massively adopted without pumping tokens.
8. 128.▲
   by jhwang5 9y ago

   According to your logic, pretty much any illegal activity will - by definition - have real world use cases, and should be permissible.
9. 129.▲
   by jhwang5 9y ago

   "Trustless" systems require you to trust miners. I think miners are pretty much the last people you would want to trust.
10. 130.▲
    by jhwang5 9y ago

    PoS doesn't solve the problem of concentrating power on miners
11. 131.▲
    by jhwang5 9y ago

    Yes, except, personal computers didn't have negative side effects like raising funds illegally outside of investor production regulations (icos) or facilitating dark web trade.
12. 132.▲
    by jhwang5 9y ago

    For a more theatrical effect, print out all the private keys on reams of A4 paper
13. 133.▲
    by jhwang5 9y ago

    There's deep parallels between Crypto fans and scientologists.
14. 134.▲
    by jhwang5 9y ago

    Are you treating all blockchains as equal; there are different degrees of decentralization. You can have blockchains that are run by oligarchies of miners. Look no further than the mining pools behind Bitcoin.
15. 135.▲
    by jhwang5 9y ago

    1)None of the "legitimate" projects you cited have actually delivered any products or revenue. 2)The whole market is up 5x in December 2017 alone, so I wouldn't say 5x return makes you a genius - it's like saying you ar
16. 136.▲
    by jhwang5 9y ago

    So now you are shifting the argument to a market information problem to a market irrationality problem. Typical.
17. 137.▲
    by jhwang5 9y ago

    Wait, but what if you are a consumer and you got scammed by a seller? Chargebacks are legitimate means of consumer protection.
18. 138.▲
    by jhwang5 9y ago

    Internet boom at least had startups that generated some dollar revenue. Most tokens and coins aren't backed by neither users nor revenue.
19. 139.▲
    by jhwang5 9y ago

    Isn't it obvious that buying shares in a public company gives you proxy, fractional ownership of a business that's generating cashflow? You don't get that with crypto. Crypto, on the other hand, literally requires someone els
20. 140.▲
    by jhwang5 9y ago

    Same with Bitcoin. If say 30 individuals controlled 51% > of hashrate, then Bitcoin will arguably be more centralized than US Dollar.
21. 141.▲
    by jhwang5 9y ago

    > If the Bitcoin (for example) community really buys into the idea that we need to bail out some set of organizations, it's possible to execute a fork to do that. And the number of validating bitcoin clients out there is pretty larg
22. 142.▲
    by jhwang5 9y ago

    Switching to cryptocurrency actually makes the problems worse, because instead of regulated entities calling the shots, we have an oligarchy of ASIC-armed miners calling the shots. Between the two evils, any sane person would rather trust a
23. 143.▲
    by jhwang5 9y ago

    See, every CDO trader already knew where things were trading, and could already derive all implied default rates already. Information dissemination / transparency wasn't the issue. It was people's wrong model assumptions that
24. 144.▲
    by jhwang5 9y ago

    I don't think you understand how CDOs are priced. The fact that CDOs were trading 35cents on the dollar is largely a part of default EXPECTATIONS resetting up. Smart contracts cannot expedite this process of resetting expectations. Et
25. 145.▲
    by jhwang5 9y ago

    What people confuse often that the Blockchain != Bitcoin. The concepts behind the Blockchain are certainly valuable, but to equate all that value to the value of Bitcoin itself is a logical fallacy. Folks should learn to appreciate the Bloc
26. 146.▲
    by jhwang5 9y ago

    Nowadays, anyone who has a Medium account and took a single deep learning course can write about it and establish "authority". That's why.
27. 147.▲
    by jhwang5 9y ago

    Regarding your b): Yeah, you can trade your Cobinhood tokens for Binance coins, but this is an artifact of the fact that each built a closed ecosystem. If both platforms used the same currency (ETH, USD, whatever), then there'd be no n
28. 148.▲
    by jhwang5 9y ago

    Yes, but wouldn't the fact that it's not totally anonymous discourage people from saying whatever they want? Like, self-directed censorship.
29. 149.▲
    by jhwang5 9y ago

    a) Or... wait for it... they could ask for payment in crypto, fiat, whatever, rather than printing their own chuck-e-cheese tokens. Yes, we get it, ICO allows the DAPP to fund itself, and it's a great value prop for the founders, becau
30. 150.▲
    by jhwang5 9y ago

    If you read correctly, I was not taking any exception to energy efficiency aspect of using Blockchain, either.