abaga129 · HackerTrans

5 jaar geledendiscuss

I really like how this article is written. I'm a big time crypto fan, but the point the author makes about how something being decentralized makes it more difficult to change is so true. This is the reason Ethereum 2 has been in the works for numerous years and is still several years away from being completed.

abaga129

5 jaar geledendiscuss

The carbon footprint you refer to applies only to proof-of-work blockchains. Unfortunately 3 of the largest systems use this (bitcoin, Ethereum, and doge) but an alternative has already been created called proof-of-stake. Nearly every new crypto uses proof-of-stake and Ethereum plans to switch to it. The market seems to approve of this as well as some of the big gainers in market cap use this system.

abaga129

5 jaar geledendiscuss

As a Missourian, it's honestly embarrassing and increases my distaste for the land where I grew up and still live.

abaga129

5 jaar geledendiscuss

His use of the word "decrypted" shows at least some lack of understanding. The SSNs were in base64 as I understand it so "decoded" would make sense but as we all know these two concepts are vastly different. He uses the locked analogy but there is no key or lock in this scenario.

abaga129

5 jaar geledendiscuss

While I dont completely agree with you, you do make good points. I would argue that Cryptocurrencies lacking sovereignty is what makes it appealing and gives it value for most users. Bitcoin is seen as an inflation hedge for many investors when they see their own government printing money like its post WW1 Germany (Exaggeration). The volatility is definitely an issue for someone looking to invest a serious amount into.

I personally feel that we are still in the very early stages of this tech and I think it will continue to grow.

abaga129

5 jaar geledendiscuss

How is that any different from Fiat money? Or anything for that matter. It holds no real value beyond the paper it is printed on. It is valuable because we all agree as a society to give it value.

abaga129

5 jaar geledendiscuss

Most layer 1 Blockchains are trying to replace the existing payment processing systems such as visa. Not replace all of our computing infrastructure (although some are trying to do this such as ICP)

abaga129

5 jaar geledendiscuss

Smart contracts are huge in crypto currency and are likely here to stay. Afaik all of the top 10 crypto currencies by market cap have smart contracts or plan to have them except bitcoin and tether.

They power decentralized apps and defi. Without them then a blockchain doesn't have much utility aside from processing transactions.

abaga129

5 jaar geledendiscuss

Or by people who do know better and have malicious intent.

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