Memes

45619 readers

1124 users here now

Rules:

Be civil and nice.
Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.

founded 5 years ago

MODERATORS

[email protected]

756

I value this meme at eleventy billion and won't take a cent less (lemmy.world)

submitted 1 year ago by [email protected] to c/[email protected]

122 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 22 points 1 year ago (8 children)

I personally view crypto and the crypto boom as an experiment in unfettered capitalism - it's still a new technology, the governments haven't caught up to it yet so no regulations, yet quite literally 99% of crypto usage was in trying to take advantage of others (scams) and speculation.

The only thing with actual value that came out of crypto was probably Monero, which allowed for completely anonymous payments, something that crypto, when paired with crypto exchanges, is bad at.

[–] [email protected] 1 points 1 year ago (3 children)

Onion routing (like Tor) is the default for the Lightning Network. Every crypto that supports it already has private payments, including Bitcoin.

There's no way to validate the total supply of Monero. So if it ever has a supply bug (like Bitcoin's value overflow incident), then it won't be detected and patched.

[–] [email protected] 1 points 11 months ago (2 children)

Monero has mechanisms for validating supply:

https://m.youtube.com/watch?v=vW9H6VIONWM&t=174s

If you're going to repeat this argument ad nauseam then at least don't do it in a misleading absolutist way.

[–] [email protected] 1 points 11 months ago* (last edited 11 months ago)

I don't 100% disagree with him. Like he said, it is an additional risk. Assuming no supply bugs, you can validate what is published.

I just disagree with him that it's "near zero probability". This already did happen with Bitcoin and we only caught it because we weren't assuming zero supply bugs. Bugs happen and we're talking about the future money supply for all humans.

Edit to add: and BTW it's not just cryptography bugs (rare), but anything related to validation (like value overflow)

[–] [email protected] 1 points 11 months ago

Here is an alternative Piped link(s):

https://m.piped.video/watch?v=vW9H6VIONWM&t=174s

Piped is a privacy-respecting open-source alternative frontend to YouTube.

I'm open-source; check me out at GitHub.

load more comments (4 replies)