41–50 of 139 posts
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I don't think that it's all a scam, but I do think that it gives scammers a vehicle to con people without oversight or regulation. They also end up with "real" money which can be spent.
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Somehow yes, and it's quite sad. The blockchain technology itself is a marvel and the safety/security properties of properly decentralized systems are unmatched. The whole financial world would be better written using blockchain/smart contracts, same goes for voting/governance, etc. But these scammers. So many of them... Easy to smell though, but the problem we need to fix is these scammers get most of the online tra…
>The blockchain technology itself is a marvel and the safety/security properties of properly decentralized systems are unmatched. The whole financial world would be better written using blockchain/smart contracts, same goes for voting/governance, etc. No, blockchain really isn't all that amazing. Blockchain is useful when you need something decentralized, immutable, and trustless . That trustless bit is the important…
Decentralization is important but isn't as important. There are many successful chains that aren't decentralized at all and are quite useful.
Most top/real projects in blockchains aren't immutable. Pretty much everything is upgradable/changeable, including blockchains themselves.
Trustless - even this part isn' true for most blockchain systems. They all contain various levels of trusting different entities.
It is the transparency and verifiability that is the key idea and most important improvement that blockchains bring.
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Somehow yes, and it's quite sad. The blockchain technology itself is a marvel and the safety/security properties of properly decentralized systems are unmatched. The whole financial world would be better written using blockchain/smart contracts, same goes for voting/governance, etc. But these scammers. So many of them... Easy to smell though, but the problem we need to fix is these scammers get most of the online tra…
Somehow? The only objective value from crypto is anonymity. It only serves to incentivize shady behavior.
Rather, blockchains enable anyone to provably check the state of the database. Your fintech app logs you out. No proof, and frustrating customer service hell for days/weeks/months.
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>The whole financial world would be better written using blockchain/smart contracts, same goes for voting/governance, etc. Citation needed. Governance and finance absolutely need human judgment recovery edge cases such as "My house burnt down containing my ID (keys) and I need access to my bank account to rebuild it"
Right. All of these "finance and government would be so much better with smart contracts" suggestions seem predicated on the idea that human beings can design a system correctly on the first attempt and deploy an immutable version of that system they can then run independently forever without any bugs or exploits that need to be fixed in the future. Human beings cannot do that.
It seems the common approach now is to make a v2/v3/etc. of your protocol and let your own users migrate. Previous versions will still run forever, but your frontend can push migration paths.
I believe in crypto, I think it will even protect people online when done right. And not everything is scam, there are good projects. That being said the behavior of people and organizations in crypto is poor and will slow adoption. I still regularly see major crypto ecosystems rug pull their own developers. They simply can’t help themselves.
Earlier quoted context omitted.
Somehow yes, and it's quite sad. The blockchain technology itself is a marvel and the safety/security properties of properly decentralized systems are unmatched. The whole financial world would be better written using blockchain/smart contracts, same goes for voting/governance, etc. But these scammers. So many of them... Easy to smell though, but the problem we need to fix is these scammers get most of the online tra…
>The blockchain technology itself is a marvel and the safety/security properties of properly decentralized systems are unmatched. The whole financial world would be better written using blockchain/smart contracts, same goes for voting/governance, etc. No, blockchain really isn't all that amazing. Blockchain is useful when you need something decentralized, immutable, and trustless . That trustless bit is the important…
Earlier quoted context omitted.
>The blockchain technology itself is a marvel and the safety/security properties of properly decentralized systems are unmatched. The whole financial world would be better written using blockchain/smart contracts, same goes for voting/governance, etc. No, blockchain really isn't all that amazing. Blockchain is useful when you need something decentralized, immutable, and trustless . That trustless bit is the important…
Most important property of blockchains is verifiable transparency. That is a huge deal and yes, most financial and government systems would be much better for people if they were built with that type of verifiable transparency. Decentralization is important but isn't as important. There are many successful chains that aren't decentralized at all and are quite useful. Most top/real projects in blockchains aren't immut…
You can have transparency and verifiability without blockchain, so long as you trust the parties publishing the ledger. So once again, trustless is really the key part to blockchain.
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You can keep telling yourself that, but there's enough utility and momentum behind it that it is not going anywhere. I'm saying this as a person with no stake in the matter, just observing from the sidelines.
How do these scammers generate such big market caps for their coins? Offloading $1.4MM is a huge sum of money, more than 99.9% of people in the world would ever see at once.