Cryptocurrency as the next significant stage for computing technology, not just an investment

[usagi]

On 1/13/2019 at 12:02 PM, Zeffolia said:

partial multisig timelocked revokable cold storage smart contract mechanism. 

re-lol

[Sensitive Outsider]

On 1/9/2021 at 1:39 PM, cyanobacteria said:

BItcoin ... the only international currency not subject to manipulation by any individual economic ideological group right now...

are Facebook groups and Mumsnet an ideological group?  Do they not share the same insular. I'm all right jack, would do anything for a quick buck, Whatever I do and believe is better than you and your beliefs ideology and outlook on the world? 

 ..because those are they types of in-experienced investors that seem to be "manipulating" the value of bitcoin right now.

 

Its nothing but an empty harbour in a storm. Short term protection with little to no value in the long term.

[zlemflolia]

4 hours ago, Sensitive Outsider said:

are Facebook groups and Mumsnet an ideological group?  Do they not share the same insular. I'm all right jack, would do anything for a quick buck, Whatever I do and believe is better than you and your beliefs ideology and outlook on the world? 

 ..because those are they types of in-experienced investors that seem to be "manipulating" the value of bitcoin right now.

 

Its nothing but an empty harbour in a storm. Short term protection with little to no value in the long term.

bitcoin has nothing to do with "investors" it's a technology you either get it or don't

[chenGOD]

https://blog.chainalysis.com/reports/capitol-riot-bitcoin-donation-alt-right-domestic-extremism

[dcom]

49 minutes ago, cyanobacteria said:

bitcoin has nothing to do with "investors" it's a technology you either get it or don't

The technology I get - it's simply a chain of cryptographic hashes and transaction data - it's the valuation I don't get, it has no reality component.

The technology has some potential, although it's more of a solution in search of a problem - but BTC's proof of work such a wasteful implementation, especially the mining part; BTC (and as has been shown, a lot of up-and-coming ICOs) as an application is at best a high-risk speculative instrument, at worst a MLM/Ponzi scheme/straight-up scam or a way to fund criminal enterprises in various ways (darknet commerce in illicit goods and services, sextortion and a whole cornucopia of scams, ransomware etc.). For some, it's a get-rich-quick-scheme, but there are people frosting the proverbial cake with pseudo-ideological techno-utopian meta-economic semi-metaphysical bollocks thinking that they can eat it, too - presenting cryptocurrency as a life-style choice.

No thanks.

Edited January 15, 2021 by dcom

[zlemflolia]

3 minutes ago, dcom said:

The technology I get - it's simply a chain of cryptographic hashes and transaction data - it's the valuation I don't get, it has no reality component.

The technology has some potential, although it's more of a solution in search of a problem - but BTC's proof of work such a wasteful implementation, especially the mining part; BTC (and as has been shown, a lot of up-and-coming ICOs) as an application is at best a high-risk speculative instrument, at worst a MLM/Ponzi scheme/straight-up scam or a way to fund criminal enterprises in various ways (darknet commerce in illicit goods and services, sextortion and a whole cornucopia of scams, ransomware etc.). For some, it's a get-rich-quick-scheme, but there are people frosting the proverbial cake with pseudo-ideological techno-utopian meta-economic semi-metaphysical bollocks thinking that they can eat it, too.

Your description of the technology is wrong, which is likely why you don't understand the valuation.  It's a chain of cryptographic hashes and transaction data, secured using Nakamoto Consensus in a way that renders it decentralized and resistant to external manipulation in a way that, while not perfect, is stronger than any other technology so far, enabling numerous new capabilities like decentralized internet and even decentralized, censorship resistant financial markets and transactions

Edited January 15, 2021 by cyanobacteria

[dcom]

29 minutes ago, cyanobacteria said:

Your description of the technology is wrong, which is likely why you don't understand the valuation.  It's a chain of cryptographic hashes and transaction data, secured using Nakamoto Consensus in a way that renders it decentralized and resistant to external manipulation in a way that, while not perfect, is stronger than any other technology so far, enabling numerous new capabilities like decentralized internet

I know exactly how it works, I've been a professional computer programmer for almost 30 years leaning strongly towards security and cryptography. I know the ideological selling points that believers tout, too. They bore me.

Edited January 15, 2021 by dcom

[zlemflolia]

3 minutes ago, dcom said:

I know exactly how it works, I've been a professional computer programmer for almost 30 years leaning strongly towards security and cryptography. I know the ideological selling points that believers tout, too. They bore me.

There's no ideology required to be a "believer" and I definitely do not personally subscribe to any techno-libertarian garbage, or even necessarily believe that this technology is inherently good, merely that it exists and must be reckoned with, and in terms of its interaction with markets is a clear necessary part of anyone's investment portfolio under capitalism due to its lack of fundamental correlation to the material flow of other forms of currency and capitals

[dcom]

18 minutes ago, cyanobacteria said:

There's no ideology required to be a "believer" and I definitely do not personally subscribe to any techno-libertarian garbage, or even necessarily believe that this technology is inherently good, merely that it exists and must be reckoned with, and in terms of its interaction with markets is a clear necessary part of anyone's investment portfolio under capitalism due to its lack of fundamental correlation to the material flow of other forms of currency and capitals

 "Next significant stage for humanity"? That's ridiculous hyperbole.

ACK, enjoy.

Edited January 15, 2021 by dcom

[zlemflolia]

46 minutes ago, dcom said:

 "Next significant stage for humanity"? That's ridiculous hyperbole.

ACK, enjoy.

The thread is 2 years old, the title is very cringe I will update it

[dcom]

22 minutes ago, cyanobacteria said:

The thread is 2 years old, the title is very cringe I will update it

The new one's not an improvement - it's still hyperbole and it makes no conceptual sense - could you please elaborate on exactly how cryptocurrency is the next significant stage for computing technology?

Edited January 15, 2021 by dcom

[zlemflolia]

1 hour ago, dcom said:

The new one's not an improvement - it's still hyperbole and it makes no conceptual sense - could you please elaborate on exactly how cryptocurrency is the next significant stage for computing technology?

Even if it's not improvement enough for you, it's an improvement over the previous one which was worse.  It is biased though towards an ideological standpoint of being anti-cloud, anti-centralization, and anti-capitalist.  It also assumes a lot about the future advancement of these technologies.  It's the next significant stage for computing technologies because it represents a revolutionary break from the previous power structures of the network topologies used in distributed computing services, representing the potential to implement decentralized solutions for everything from private cloud computing through homomorphically encrypted smart contracts, to storage through proof-of-storage based consensus mechanisms.  Will it work?  Every revolution has the potential to fail.  But if it works it could represent a break from dependence on the private property of other entities with large capital through the conglomeration of the computing resources of the multitude of small computing capital holders worldwide, which we each are nowadays

Edited January 15, 2021 by cyanobacteria

[Alcofribas]

you know, i'm something of a homomorphically encrypted anti-cloud myself.

booba

[dcom]

1 hour ago, cyanobacteria said:

Even if it's not improvement enough for you, it's an improvement over the previous one which was worse.  It is biased though towards an ideological standpoint of being anti-cloud, anti-centralization, and anti-capitalist.  It also assumes a lot about the future advancement of these technologies.  It's the next significant stage for computing technologies because it represents a revolutionary break from the previous power structures of the network topologies used in distributed computing services, representing the potential to implement decentralized solutions for everything from private cloud computing through homomorphically encrypted smart contracts, to storage through proof-of-storage based consensus mechanisms.  Will it work?  Every revolution has the potential to fail.  But if it works it could represent a break from dependence on the private property of other entities with large capital through the conglomeration of the computing resources of the multitude of small computing capital holders worldwide, which we each are nowadays

That's a load of bollocks and a prime candidate for bullshit bingo.  I really don't have the time or the patience to deconstruct all that drivel, and I actually enjoy reading postmodern philosophy, media theory and other dense subjects.

3 hours ago, cyanobacteria said:

There's no ideology required to be a "believer" and I definitely do not personally subscribe to any techno-libertarian garbage

That seems contradictory, because you produce it like a professional. You also say that there's no ideology required but then start with "an ideological standpoint" and proceed to use complex yet ideologically loaded language to say... what? It's like an elevator pitch that makes no sense.

Edited January 15, 2021 by dcom

[zlemflolia]

1 minute ago, dcom said:

I really don't have the time or the patience to deconstruct all that drivel

It's 1 paragraph, don't bother then.  The ideological aspect is the valuation and perspective on the technological possibilities enabled.  Buzzword bingo?  Fair enough, but everything I said is still true even if you don't care

[thumbass]

Oh fuck i just lost 0192919381 rand in dogecoins 0/10 will never invest in crypto currency again

[dcom]

23 minutes ago, cyanobacteria said:

It's 1 paragraph, don't bother then.  The ideological aspect is the valuation and perspective on the technological possibilities enabled.  Buzzword bingo?  Fair enough, but everything I said is still true even if you don't care

I meant that I'm itching to pick it apart sentence by sentence, word by word, concept by concept and see whether you actually understand what you write, because a lot of what you wrote is just word salad that doesn't mean anything to most people, like homomorphically encrypted smart contracts - that's a gobstopper of a concept - I know what it means and I don't have any trouble reading and understanding the rest of what you wrote, but it's still garbage. If the things you wrote are true to you, have at it and enjoy.

Edited January 15, 2021 by dcom

[cichlisuite]

Cryptocurrency mining is the next (exponential) step of energy consumption. To that I concede.

[prdctvsm]

3 minutes ago, thumbass said:

Oh fuck i just lost 0192919381 rand in dogecoins 0/10 will never invest in crypto currency again

[Alcofribas]

49 minutes ago, thumbass said:

Oh fuck i just lost 0192919381 rand in dogecoins 0/10 will never invest in crypto currency again

edit: lmao prdctvsm owned me 

Edited January 15, 2021 by Alcofribas

[thumbass]

7 minutes ago, Alcofribas said:

edit: lmao prdctvsm owned me 

You truly got owned by prdctvsm or whatever he's called (no offense prdocjrjcsm)

[prdctvsm]

[Alcofribas]

I had a good doge post and that mf did a whole ass meme

Edited January 16, 2021 by Alcofribas

[thumbass]

.

Edited January 16, 2021 by thumbass

[zlemflolia]

2 hours ago, dcom said:

I meant that I'm itching to pick it apart sentence by sentence, word by word, concept by concept and see whether you actually understand what you write, because a lot of what you wrote is just word salad that doesn't mean anything to most people, like homomorphically encrypted smart contracts - that's a gobstopper of a concept - I know what it means and I don't have any trouble reading and understanding the rest of what you wrote, but it's still garbage. If the things you wrote are true to you, have at it and enjoy.

Okay that just means you don't know what I'm talking about and that's as much my own fault as yours, but it doesn't mean it's word salad.  Smart contracts are programs which run on a decentralized virtual machine like Bitcoin or Ethereum.  Homomorphically encrypted computation is a method of providing programs and data to someone else where the data is homomorphically encrypted which lets them run that data through the program and send you the output of the program, then decrypt the result, and the result is as if it had been ran through the algorithm unencrypted, but the computer you sent it to never knows what the decrypted data was.  Then you do it in a smart contract. 

https://en.wikipedia.org/wiki/Homomorphic_encryption