31–40 of 101 posts
Looking forward to the day where the shitcoins die off and there's only a handful of cryptos on exchanges/people talk about.
I love watching these guys and their supporters. It's like watching an internet cult in real time.
It would be nice to read an attack on the technology rather than an article highlighting hater quotes on the feuding misogynist, ego-maniacal founders. Iota remains a speculative cryptocurrency. It does not rely on the technology before it and is not a copy-paste crypto like many that came out of the last boom cycle. I still think it is quite innovative. That said, it may eventually fail due to its poor implementatio…
Omg, I just lost my only crypto investment if this isn't fixed. The amount I lost: 100 USD
Earlier quoted context omitted.
Is there some kind of binary backing https://blocksteam.info ? Information doesn't just appear on the internet.
Bitcoin is not one of the scams with no working software I was talking about. The information comes from a leveldb database you can download from peers after installing this client: https://github.com/bitcoin/bitcoin
They have a MySQL type database that stores IOUs for the people who bought the ICO tokens. They promise to deliver the actual coins once they finish the software, which in many cases has never happened. Others are less egregious than this and have working binaries on a testnet--the future main network is promised to deliver the actual functionality. There are a few coins (Cardano, EOS) worth multiple billions that don't have a mainnet or a working wallet.
It would be nice to read an attack on the technology rather than an article highlighting hater quotes on the feuding misogynist, ego-maniacal founders. Iota remains a speculative cryptocurrency. It does not rely on the technology before it and is not a copy-paste crypto like many that came out of the last boom cycle. I still think it is quite innovative. That said, it may eventually fail due to its poor implementatio…
The article does go into the flawed technology: the hilariously poorly thought out trits, the flawed internally developed hash, the centralized nature of the system, etc etc. IOTA is to technologically flawed that it's amazing that it's worth more than $0.
Indeed, it has had their centralized Coordinator with plans to decentralize. Is that a flaw? Maybe, but it's also a scaling issue.
The distributed proof of work is novel as well as the absence of centralized mining and transaction fees.
Earlier quoted context omitted.
Almost every coin is implemented with straightforward, non-blinded accounting ("UTXO" model) such that everyone knows how many coins are associated with each public key. For example, this one belongs to Hal Finney (the creator of Bitcoin) and you trace the balance of and movement of coins transparently: https://blockstream.info/address/1BgoUL3Mf8vDSDU4jjpFARKBJ6z...
> Hal Finney (the creator of Bitcoin) To be clear, this isn't definitive, as he is one of many individuals suspected to be Satoshi Nakamoto.
As an unrelated side note it is worth reading his post from 2009 when we talks about having ALS: https://www.lesswrong.com/posts/bshZiaLefDejvPKuS/dying-outs... I have a memory of discovering this essay on hn, but I can no longer find the discussion. Maybe I remembered it wrong.
Edit: I found it https://news.ycombinator.com/item?id=867623
Still waiting for a use case of blockchain outside cryptocurrency also.
This project is the gift that keeps on giving when it comes to hilarity and schadenfreude. Custom hash function? Bizarre obsession with trinary? Complete centralization in a space where decentralization is the point? Constant big announcements with no substance? I love watching these guys and their supporters. It's like watching an internet cult in real time.
It would be nice to read an attack on the technology rather than an article highlighting hater quotes on the feuding misogynist, ego-maniacal founders. Iota remains a speculative cryptocurrency. It does not rely on the technology before it and is not a copy-paste crypto like many that came out of the last boom cycle. I still think it is quite innovative. That said, it may eventually fail due to its poor implementatio…
The article does go into the flawed technology: the hilariously poorly thought out trits, the flawed internally developed hash, the centralized nature of the system, etc etc. IOTA is to technologically flawed that it's amazing that it's worth more than $0.