Why aren’t distributed systems engineers working on blockchain technology?

Post by empthought » Thu, Aug 03, 2017, 10:23 AM UTC

darawk wrote: post #200

empthought wrote: post #199

Earlier quoted context omitted.

That's not splitting hairs; that's literally the point of credit cards. It is entirely "push" from my perspective, modulo the minimum monthly payment and tolerance for paying interest and bad credit. If I buy something with a credit card for $2k and have $2k in my bank account, the $2k is still there until I pay the credit card company. It could take years or be paid off immediately. It's not a "pull" at all.

It is a pull. You bear the costs of fraud whether you notice them or not. The fact that the credit card company hides those costs from you doesn't change the fact that their architecture is broken, and that you are still paying for it by virtue of the fees they charge merchants, which create higher sticker prices for you. Costs like that don't simply disappear into the ether - you, the consumer, pays them.

Post by vageli » Thu, Aug 03, 2017, 5:35 PM UTC

darawk wrote: post #200

empthought wrote: post #199

Earlier quoted context omitted.

That's not splitting hairs; that's literally the point of credit cards. It is entirely "push" from my perspective, modulo the minimum monthly payment and tolerance for paying interest and bad credit. If I buy something with a credit card for $2k and have $2k in my bank account, the $2k is still there until I pay the credit card company. It could take years or be paid off immediately. It's not a "pull" at all.

It is a pull. You bear the costs of fraud whether you notice them or not. The fact that the credit card company hides those costs from you doesn't change the fact that their architecture is broken, and that you are still paying for it by virtue of the fees they charge merchants, which create higher sticker prices for you. Costs like that don't simply disappear into the ether - you, the consumer, pays them.