siftrics

16 ms·

151.
by siftrics 4y ago
The utilitarian slant is interesting. I can understand why some people think crypto is a net negative at the moment. The set of businesses adjacent to true, on-chain applications is rife with fraud. Thousands of people have died, maybe even
152.
by siftrics 4y ago
Yes, I think borders violate basic human rights and needlessly destroy lives and families. Your argument that crypto is consuming too much opportunity cost is completely valid. But why fight against something that offers hope for the misfor
153.
by siftrics 4y ago
"Okay. People have successfully avoided fraud, theft, and the tyrannical seizure of their assets by arbitrary decisions of arbitrary government officials. Billions of dollars worth of assets are stored on blockchains. Unless you have a
154.
by siftrics 4y ago
This is a very good question. They cannot and do not. On/off-ramps are a huge topic and we have a lot of work to do to make these ramps as permissionless as possible, should we want to allow humans to decide for themselves whether or n
155.
by siftrics 4y ago
Sure. I agree. Doesn't change the extremely valuable mathematical properties of blockchains or their set of use-cases.
156.
by siftrics 4y ago
Yes, I think the government absolutely will try and it's quite probable they will succeed. But why not offer human beings the _chance_ to flee tyranny with their livelihood? Consider jews fleeing Nazi Germany. Should they have been all
157.
by siftrics 4y ago
1. Incorporating a company in another country and abiding by its rules and regulations is not and should not, in and of itself, be considered "evasion" of US regulation. 2. The US has refused to draft clear legislation regarding h
158.
by siftrics 4y ago
Never argued blockchains should fully replace traditional finance. Banks are extremely valuable to me and probably always will be. Blockchains have certain properties which make them extremely desirable in a specific set of use-cases. That
159.
by siftrics 4y ago
Newsflash. Other countries exist. How do you think any of these companies and protocols even exist? They sure as hell don't have enough regulatory clarity to be confident they can operate as US entities right now. Vast majority of true
160.
by siftrics 4y ago
I agree, some subset of tokens created on a permissionless blockchain are or will be worthless. In fact, I bet that subset is >99%. I don't see what your point is.
161.
by siftrics 4y ago
I agree. What is your point?
162.
by siftrics 4y ago
Okay. People have successfully avoided fraud, theft, and the tyrannical seizure of their assets by arbitrary decisions of arbitrary government officials. Billions of dollars worth of assets are stored on blockchains. Unless you have a mathe
163.
by siftrics 4y ago
DEXs exist. What you are talking about has nothing to do with blockchains or self-custody. Again, read primary sources and learn fundamental concepts before vaguely disagreeing.
164.
by siftrics 4y ago
There's no mathematical law that blockchains will survive forever or hard forks will retain the worth of the token. I never argued for that and I'm not arguing that that is the case.
165.
by siftrics 4y ago
I'm not claiming banks don't serve a good purpose. I'm not claiming anyone should hold all their net worth on a blockchain. But blockchains do have extremely desirable properties in preventing fraud _on the chain_. I would lo
166.
by siftrics 4y ago
Yes, you're mistaken. If you're the only person with the private key, you're the only person who can move the funds. It's math. Unless you have a mathematical argument as to how to move funds without the private key, you
167.
by siftrics 4y ago
How does self-custody hand control to someone else?
168.
by siftrics 4y ago
Those all occurred because users could not or did not read the source code and prove to themselves that their funds cannot be stolen. Why prevent people from using math to prove their assets cannot he stolen?
169.
by siftrics 4y ago
Correct. It's also correct that FTT tokens are worthless. An argument against the worth of an arbitrary token created on a permissionless blockchain is not an argument against the good, useful, valuable properties of blockchains, such
170.
by siftrics 4y ago
Anonymity is completely separate. Anonymity has nothing to do with the property that you cannot steal on the blockchain. How do you think blockchains even work? Read primary sources before vaguely disagreeing.
171.
by siftrics 4y ago
Totally valid criticism about the coins potentially being worthless. I just want to stop the ignorant, misinformed takes. It's so paradoxical that HN is paranoid about the government changing settings on your phone without your permiss
172.
by siftrics 4y ago
How were deposits fraudulently misused on Terra? Sure, it blew up. We should totally criticize Terra for that. But it succeeded in preventing Do Kwon and everyone else in the entire world from fraudulently misusing deposits. You wrote valid
173.
by siftrics 4y ago
Tell me specifically what is false about this statement: Blockchains mathematically prevent fraudulent misuse of deposits
174.
by siftrics 4y ago
Say it with me: Blockchains mathematically prevent fraudulent misuse of deposits Yes, on/off ramps are an issue. Yes, blockchains do not prevent physical threats of violence or profound custodial negligence. No, SBF would not hav
175.
by siftrics 4y ago
You're misinformed. Depositors were stolen from because they did not self-custody. You can't take someone else' funds on a blockchain, except by physical threat or profound custodial negligence.
176.
by siftrics 4y ago
> that people NEED All the depositors have the extremely pressing NEED of not having all their deposits stolen from them. Blockchains mathematically prevent fraudulent misuse of deposits. People aren't mad about SBF taking a wrench
177.
by siftrics 4y ago
Are you suggesting SBF would have physically stolen from millions of different human beings? How?
178.
by siftrics 4y ago
Good point.
179.
by siftrics 4y ago
Friendly reminder that he could not have stolen the deposits in the manner he did if this was on-chain and the users self-custodied. Yes, DEXs exist. Yes, you can self-custody on DEXs.
180.
by siftrics 4y ago
He could not have stolen the deposits in the manner he did if this was on-chain and the users self-custodied. Yes, DEXs exist.

More ›