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Did I just lose half a million dollars?

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Re: Did I just lose half a million dollars?

#151
post #147
post #138

Earlier quoted context omitted.

Let's try. I don't know what kubernetes does. Can anyone explain in five lines of text?

It abstracts away underlying hardware, leaving you with a convenient set of abstractions for deploying containerized networked services. Sort of an OS for a cluster of distributed machines. Unfortunately this involves lots of YAML. How’d I do?

Better than all the crypto nonsense.

Re: Did I just lose half a million dollars?

#152

Having watched cryptocurrency from a distance via HN etc. for over a decade, I thought I had a general understanding, but this made me realize I wasn’t aware of what smart contracts really were (just looked up solidity today and details of The DAO hack). The potential for irreversible losses, fraud and security holes are much bigger than I realized. This also lead me to this video which will now be my ‘go to’ recomme…

> this made me realize I wasn’t aware of what smart contracts really were (just looked up solidity today and details of The DAO hack). The potential for irreversible losses, fraud and security holes are much bigger than I realized. That seemed obvious from the first time I read the expression "code is law". If code is law, any bug (whether in the contract itself or in the way the contract is called) fucks you irredee…

When I saw the phrase "code is law" I immediately thought of all the code I've written in my life, and I'm not even the very worst coder out there...

Re: Did I just lose half a million dollars?

#153
post #138
post #125

Earlier quoted context omitted.

You are expecting to understand how a completely new and complex technology works from 5 lines of text. Imagine if someone tried to explain Kubernetes to you in 5 lines of text.

Let's try. I don't know what kubernetes does. Can anyone explain in five lines of text?

The issue is the question here which is probably invalid.

Cryptocurrency is designed for general use. Kubernetes is designed to abstract specific problems away for specialists.

Re: Did I just lose half a million dollars?

#154
post #131
post #8

I lost 4.5K transfering USDT from Binance to Coinbase From time to time I check if the money is still there. The last time I asked Coinbase support they didn't even bother to answer me. I was not investing, one of my contractors unilaterally decided to pay me in crypto.

> I was not investing, one of my contractors unilaterally decided to pay me in crypto. Why didn't you tell him that you wanted to be paid in real money?

Because then they would say "ok, here's crypto".

Re: Did I just lose half a million dollars?

#155

The future of currency ladies and gentlemen. This money is literally gone. Unrecoverable. Like he took the money out to a barrel and burned it. Only he didn't get any warmth out of it in exchange.

> Unrecoverable. I'm not very well versed in this stuff, but surely the tokens he sent are somewhere right. Like if you sent $500k to a bank but put the wrong account number in, the $500k would still go _somewhere_. It might be difficult to recover, but it's not like the money just disappears.

In this case it's absolutely unrecoverable.

Re: Did I just lose half a million dollars?

#156

The future of currency ladies and gentlemen. This money is literally gone. Unrecoverable. Like he took the money out to a barrel and burned it. Only he didn't get any warmth out of it in exchange.

You have to waste energy to create ETH because ‘inflation baaad‘ but destroying ETH is possible by accident. Crypto bros should really take some macroeconomics courses.

Re: Did I just lose half a million dollars?

#157
post #125
post #26

Earlier quoted context omitted.

The problem with crypto is despite your explanation, I have no idea what any of your post means. Not any of it.

You are expecting to understand how a completely new and complex technology works from 5 lines of text. Imagine if someone tried to explain Kubernetes to you in 5 lines of text.

Sure, but celebrities and grifters aren't pushing the general public to adopt Kubernetes or bet their life savings on their understanding of it.

Re: Did I just lose half a million dollars?

#158
post #153
post #138

Earlier quoted context omitted.

Let's try. I don't know what kubernetes does. Can anyone explain in five lines of text?

The issue is the question here which is probably invalid. Cryptocurrency is designed for general use. Kubernetes is designed to abstract specific problems away for specialists.

Smart contracts are not something people who just want to send and receive money are meant to use.

Re: Did I just lose half a million dollars?

#159

Earlier quoted context omitted.

Bad example. IBAN ( https://en.wikipedia.org/wiki/International_Bank_Account_Num... ) for example has a two digit checksum that prevents this and similar simple typos.

I have more than once typed ref-number into the amount field. Ofc a transmission of $9765775689758 won't succeed, but if it did, I'm told there's little to be done about it, finders keepers.

Yeah, if you do that and the other party runs off with the money you’re screwed.

You can certainly pursue the matter in civil courts, but law enforcement does not like to touch this kind of stuff at all. If the recipient transfers the money overseas, you will most likely never be able to recover it.

Re: Did I just lose half a million dollars?

#160
post #147
post #138

Earlier quoted context omitted.

Let's try. I don't know what kubernetes does. Can anyone explain in five lines of text?

It abstracts away underlying hardware, leaving you with a convenient set of abstractions for deploying containerized networked services. Sort of an OS for a cluster of distributed machines. Unfortunately this involves lots of YAML. How’d I do?

Except for the very last part because I don't know what YAML is, but the rest was understandable.

Which I think drives the point of all this crypto talk in acronyms contributes to it being incomprehensible.

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