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Shame Boy posted:if you're now wondering, how does any of this actually work, of course the answer is "it doesn't, which is why exchanges exist, and exchanges will just do everything locally on a local database and not touch the blockchain unless they abso-fuckin-lutely have to". I'd wager most crypto people don't even know what a clearing house is [other than that magazine subscription sweepstakes thing] despite interacting with them basically every day, which is sort of the point of a clearing house, the things are just supposed to happen silently in a reasonable amount of time
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Jan 27, 2022 22:22
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qirex posted:I'd wager most crypto people don't even know what a clearing house is [other than that magazine subscription sweepstakes thing] despite interacting with them basically every day, which is sort of the point of a clearing house, the things are just supposed to happen silently in a reasonable amount of time Yeah I never really understood what the actual application was supposed to be. It kind of assumes we live in a world where you can never trust anything or anybody, which I guess yes it is not entirely untrue but we are pretty good at coming up with effective centralized authorities which although often not perfect, often is just enough to get the job done. I remember speaking to my old CEO who was getting into crypto and wanted to track rocks through a mine using blockchain, but it was clear he had no idea what benefit it would give us over just doing whatever he was thinking in a centralized database. Long story short I think he eventually realized it was a silly idea, but I think if you are willing to put just a bit of trust into some kind of authority to keep everything in check and resolve issues independently, things get really efficient really quickly and you end up not needing a dinosaur of a system like blockchain.
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Jan 27, 2022 22:55
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qhat posted:Yeah I never really understood what the actual application was supposed to be. It kind of assumes we live in a world where you can never trust anything or anybody, which I guess yes it is not entirely untrue but we are pretty good at coming up with effective centralized authorities which although often not perfect, often is just enough to get the job done. I remember speaking to my old CEO who was getting into crypto and wanted to track rocks through a mine using blockchain, but it was clear he had no idea what benefit it would give us over just doing whatever he was thinking in a centralized database. Long story short I think he eventually realized it was a silly idea, but I think if you are willing to put just a bit of trust into some kind of authority to keep everything in check and resolve issues independently, things get really efficient really quickly and you end up not needing a dinosaur of a system like blockchain. its attractive to the kind of person who inherently distrusts any sort of authority or thinks that central authorities cannot be reformed but not so much people who think that central authorities can actually work. its interesting to me that "web3" advocates talk about how the internet has "centralized" in a small group of big tech companies and see web3 as the solution but don't seem to critically think about why that centralization took place. we had a pretty decentralized net back in the day, so there are reasons its like the way it is now. and blockchains do nothing to address those reasons.
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Jan 27, 2022 23:05
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A lot of that can be answered via the following logic: Government entities controlling everything: Bad Private companies controlling everything: Good Some may also believe that the second one is bad but utterly fail (or refuse to) understand how power concentrates.
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Jan 27, 2022 23:31
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nioctib
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Jan 27, 2022 23:34
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niocttub
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Jan 28, 2022 00:50
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https://twitter.com/disclosetv/status/1486801072211570695
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Jan 28, 2022 00:56
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I'll believe it when I see it but l m a o if the biden admin accidentally helps save the planet by tanking crypto's "value" through the SEC
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Jan 28, 2022 01:07
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do it bithc
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Jan 28, 2022 01:21
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Truman Peyote posted:lol i was talking to my friend who recently quit his job to become a full-time freelance financial advisor. hes very happy he did it but he said the worst part is explaining what he does and hearing a pause before someone says "...huh. so what do you think of cryptocurrency" gently caress I know that feeling
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Jan 28, 2022 01:35
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that's why i tell people i'm a proctologist
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Jan 28, 2022 01:37
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freelance
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Jan 28, 2022 01:37
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gently caress SNEEP posted:do it bithc BuT iT wIlL cRaSh ThE eCoNoMy!
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Jan 28, 2022 02:12
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Kazinsal posted:I'll believe it when I see it but l m a o if the biden admin accidentally helps save the planet by tanking crypto's "value" through the SEC 
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Jan 28, 2022 02:54
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https://twitter.com/FinancialProTip/status/1486248150906150912?s=20
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Jan 28, 2022 03:42
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Goddamn, what server does she play on? Do they live in Ron’s basement?
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Jan 28, 2022 05:20
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mega agreed
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Jan 28, 2022 05:22
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Jan 28, 2022 05:33
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Jan 28, 2022 05:44
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Hammerite posted:as a bonus, every child could come with his or her own NFT, You mean Cabbage Patch Kids?
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Jan 28, 2022 05:46
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blugu64 posted:proof of shunning Shunning-Krueger?
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Jan 28, 2022 06:07
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Don't do it, it is more hilarious now. Also, don't do it, because regulating it will somehow have the government bailing these idiots out.
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Jan 28, 2022 06:08
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buttcoin:
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Jan 28, 2022 06:38
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Jan 28, 2022 09:16
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every one is the new best one https://twitter.com/web3isgreat/status/1486910888590422018?s=21
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Jan 28, 2022 09:43
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security by absurdity
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Jan 28, 2022 09:57
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SubG posted:that's why i tell people i'm a proctologist so… have you heard of buttcoin?
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Jan 28, 2022 09:57
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njsykora posted:every one is the new best one p sure they already claimed the maximum bounty, bud
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Jan 28, 2022 10:13
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it's real weird how there's so many projects with bugs like "you can enter a price of zero" that nobody bothers to actually look for until they've deposited eighty million dollars despite the code being law publicly available on the blockchain
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Jan 28, 2022 10:17
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Zopotantor posted:so… have you heard of buttcoin?
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Jan 28, 2022 10:21
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not much what's a buttcoin with you?
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Jan 28, 2022 10:21
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SubG posted:that's why i tell people i'm a proctologist let me tell you about Grody rear end Butt Club, a new NFT series with a fantastic community and great fundamenfjhd;laks dluiaghiudy sag bfsud.f
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Jan 28, 2022 10:23
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Hammerite posted:let me tell you about Grody rear end Butt Club, a new NFT series with a fantastic community and great fundamenfjhd;laks dluiaghiudy sag bfsud.f I'll take 69!
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Jan 28, 2022 10:25
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Hammerite posted:let me tell you about Grody rear end Butt Club, a new NFT series with a fantastic community and great fundamenfjhd;laks dluiaghiudy sag bfsud.f https://opensea.io/collection/bored-ape-butt quote:Behind every successful bored ape, there is a bored butt. This collection brings the story of the bored ape butts.
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Jan 28, 2022 10:31
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it's impossible to satirise cryptocurrency
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Jan 28, 2022 10:39
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Hammerite posted:it's impossible to satirise cryptocurrency Maybe if someone had the courage to say buttcoin.
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Jan 28, 2022 11:21
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somehow low effort just keep getting lower
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Jan 28, 2022 13:18
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Ron Paul Atreides posted:somehow low effort just keep getting lower Introducing, Sagging Ape Balls NFT collection.
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Jan 28, 2022 13:25
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The Pre-Stolen Ape Collection is a collection of unique blank GIFs starting at 420 eth.
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Jan 28, 2022 13:37
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Shame Boy posted:it's real weird how there's so many projects with bugs like "you can enter a price of zero" that nobody bothers to actually look for until they've deposited eighty million dollars despite the code being law publicly available on the blockchain imagine walking into a bank where the blueprints to the vault were posted on the wall in the hopes that a structural engineer will walk by and bother telling other customers that the walls are structurally unsound, much less offer free remediation consultations to the bank
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Jan 28, 2022 13:42
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