yashg

22 ms·

241.
by yashg 5y ago
Because when the genius Satoshi Nakamoto thought up about digital funny money in the aftermath of 2008 financial crisis, he didn't think hard enough about all the possible scenarios.
242.
by yashg 5y ago
Is there any cool stuff that doesn't involve speculative trading in some "coin" or "token"? I recently read about a steel maker in India executing a cross border order on blockchain. On further reading it turns out
243.
by yashg 5y ago
That is classic money laundering. The only use case for funny money.
244.
by yashg 5y ago
Speaking of misunderstood lyrics, I thought the Starboy song was "I'm the mark of a Starboy" untill I read the lyrics.
245.
by yashg 5y ago
You may want to check out https://devutils.app/
246.
by yashg 5y ago
I was an entrepreneur for 10 years. I would have made more in a job. Eventually I realized I am better off creating value for others and earn a lot more. Hung up the entrepreneurial boots and life has good since. Some people can make it, so
247.
by yashg 5y ago
Nice. What exactly are you using the blockchain for? Which blockchain are you using?
248.
by yashg 5y ago
//US Fed plays with interest rates// That's what central banks are for. That's how they control inflation or make the wheels of economy moving by printing more money. That's literally the reason for their
249.
by yashg 5y ago
India, a third world country has worked it out. Apart from UPI, we have other bank transfer mechanism that doesn't involve writing a check. There's RTGS (Real Time Gross Settlement) for large payments. It's what we use when w
250.
by yashg 5y ago
Why this obsession with doing away with a central authority? What is so evil about a central bank? Decentralization is not cheap. I buy a pack of bread from a door-to-door bread and eggs salesman (Yes that's a thing in India). It costs
251.
by yashg 5y ago
Humm. Thanks. This is a new perspective to look at the blockchain ecosystem.
252.
by yashg 5y ago
Not sure if that is a serious or sarcastic comment. How do you verify build images with blockchain? And why do you need to do that? Which blockchain are you using? Private or public?
253.
by yashg 5y ago
So the company actually has a real product that solves a real problem and they are using blockchain just for PR and fund raising?
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Ask HN: Does your company use blockchain?
5 points by yashg 5y ago|6 comments
255.
by yashg 5y ago
Why does digital cash need to be on a blockchain?
256.
by yashg 5y ago
When I understood the blockchain and proof of work, my first reaction was - this is nuts. It's a waste of computing power and electricity all for removing a trust provider. And immediately the next realisation was that making a blockch
257.
by yashg 5y ago
No, I think that key is with SQLite.
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by yashg 5y ago
Majority of the people who gamble on crypto are doing so only to make a quick buck. They neither know nor care about the ideology, decentralization, removing intermediaries and other such lofty goals of crypto. Most people are in it because
259.
by yashg 5y ago
Not unpopular. Programmers who can understand the underlying technology and look beyond the lofty ideological BS of blockchain will immediately know, this will not work in real world scenarios. I tried to find any company who was using bloc
260.
by yashg 5y ago
Bitcoin has crashed on the largest Indian exchange WazirX by 25%.
261.
by yashg 5y ago
From what I have read, the DAO was also private, controlled by 13 people. The contributors weren't getting fractional ownership, only a vote to decide where the document would have been displayed.
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by yashg 5y ago
Federated blockchain is still private and permissioned. You may not have a single entity controlling it but you still have a group of entities who already trust each other and have agreed to create a shared database. My point is, private bl
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by yashg 5y ago
Start with the Bitcoin whitepaper by Satoshi Nakamoto https://bitcoin.org/en/bitcoin-paper I have compiled some explanation in a presentation at https://www.slideshare.net/yashg1/blockchain-a-solut
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by yashg 5y ago
has anyone actually built anything useful with any of these tools? Something that is not another crypto exchange or NFT marketplace?
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by yashg 5y ago
Proof-of-work consensus mechanism makes sure, as the blockchain grows, transactions become MORE expensive. Discarding PoW in favour of PoS or DPoS just makes 51% attack easier. It's far easier to control 51% of coins than to control 51
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by yashg 5y ago
Why does it need a blockchain? What kind of blockchain will it use? Public or private? What will be the consensus mechanism (PoW or PoS)?
267.
by yashg 5y ago
When the dust settles, a handful of the people would end up fabulously rich and most of the FOMO crowd would be left holding pointless tokens and keys.
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by yashg 5y ago
What if objkt.com goes down some day? Problem with decentralization is that you cannot completely decentralize everything. Someone will need to host the media, the web front end etc. Even if the artists were to host the media themselves, if
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by yashg 5y ago
Total money in the world is about $60T, out of which only $6T is in the form of bank notes and coins. (Source - Sapiens). Most of our money exists only as numbers in the databases of the world's banks. So our currency is already digita
270.
by yashg 5y ago
"I don't like this vision of the web where everything is a transaction with a cost attached to it" I like the way you put it. And the cost will only increase as more and more users join. Unlike economies of scale, this works

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