Yup, more insults, and rejection of another example. You even explicitly state you don't know what the example is, you're just convinced it's useless because it involves cryptocurrency. Nicely circular reasoning.
How about Golem? It's a decentralized cloud computing marketplace. And I should note preemptively, just because you don't use it doesn't mean nobody does.
Wow, big surprise. Insult me, demand I provide a use, then immediately claim that use isn't valid and throw more insults. It's almost like it's not worth engaging with you.
Heh. I bet if I had been suggesting particular uses you'd be calling me a shill for those particular uses. "Shill" is such a lazy accusation to throw about, you can sling it at anyone who's interested in anything.
How about ENS? It's a decentralized version of the Domain Name System.
Alright, so let's call them cryptotokens instead. I've always preferred that myself, it's a much more general description of what they do. It doesn't change what they are but if that term makes you happier we can go with that.
It renders it useless outside of as a bit of gambling on the side.
Hardly, there are lots of things you can do with these things. A ledger is more than just for tracking money, it's a database. You really can't think of useful things that could be done with a completely decentralized and permissionless database?
Ok, so a stablecoin means, that the holder gives an unsecured, zero-interest loan to a company with unknown credit worthiness.
No. Neither of the approaches I described means that. You can check the credit-worthiness of Tether and other such companies (Tether was just an example, there are many others) and decide whether you want to use their token based on what you learn if you wish. As I said, you only need the token to last for as long as you're using it for, so if you're running a storefront for example you can be paid in those tokens and immediately trade them for something you trust more.
And you can’t actually redeem the stablecoin for money, you can only get crypto that trades for $1, allegedly.
The stablecoin is worth $1, yes. That's the point of the stablecoin. The "allegedly" part is not actually allegedly, it's part of how the smart contract backing the token operates.
Are you for real?
Yes. I get the impression that you're arguing in bad faith, though. I'm happy to discuss the details of how these things work but you're calling this "insane" and that's not a particularly useful mindset for learning.
It varies, there are a bunch of different types of stabletokens. The two main approaches I'm aware of are:
Tokens that are issued and backed by a trusted third party. Tether, for example, issues one USDT token for every USD that is deposited with Tether Inc. and you can redeem USDTs for USD again any time. I'm not particularly fond of this approach, but it's simple and popular and as long as you're not holding USDT long-term I don't see a big problem with it as a day-to-day currency. Just make sure the issuing company is audited and you're prepared for the possibility that they could turn out to be lying.
Tokens that are issued by on-chain smart contracts, backed by other digital assets. DAI and Liquity are examples of these. They are more complicated but IMO the better choice because you don't have to trust anyone - you can see the token's backing right on the blockchain itself and know whether it's actually worth what the stabletoken needs for support.
One of the nice things about the on-chain smart contract stabletokens is that they can be backed by less-stable tokens, such as Ether itself, so you can get the best of both worlds out of them.
When you ask an LLM to write some prose, you could ask it "I'd like a Pulitzer-prize winning description of two snails mating" or you could ask it "I want the trashiest piece of garbage smut you can write about two snails mating." Or even "rewrite this description of two snails mating to be less trashy and smutty." In order for the LLM to be able to give the user what they want they need to know what "trashy piece of garbage smut" is. Negative examples are still very useful for LLM training.
You "can" do these things in a lot of different ways, the unanswered question is what way is best. That's not just a technical question, it also depends on how easy it is to deploy to the general public. If your toothbrush uses Bluetooth then you need to pair it with something that can speak to it, whereas if it can speak to the Internet then that broadens the ability for various systems to talk to it considerably. You can run a webserver they could visit from any browser, apps for phones, etc.
There's no need for a toothbrush to have access to your phone book. But nobody's saying it should. This whole situation of "hacked toothbrushes" isn't real.
And I'm not particularly pleased to be accused of lying when I'm willing to cite sources and the guy I'm debating with refuses to even address my responses. But you don't see me YELLING IN ALL CAPS about it.
When it was making the rounds of the Fediverse I spent some time hopping between the reposts adding a comment pointing out its falseness. On one of the threads I got a response that was basically "okay, so this particular story is false, but it still supports the narrative we're arguing and so it might as well be true."
Yes. But failing at the intent of the protocol in the process. When a hacker exploits a buffer overrun to take control of a remote computer, the computer is following its prescribed mechanisms to the letter. But that's certainly not what the computer's owner wants it to be doing.
If adding blocks to a PoW chain had no cost then the chain wouldn't be functioning as its users desire - there'd be no canonical fork any more. It would fail to solve the Byzantine generals problem, which is fundamentally the purpose of cryptocurrency.
In addition to using it as a currency, sure. But as I asked rigatti, is that a problem? At worst one might perhaps argue that the name "cryptocurrency" is misleading, but I've never cared much about semantics like that.
Right. Which is not what I was talking about. This was about how a PoW chain would become useless if there was no cost involved in making blocks, ie, if the "W" part was missing. It would allow anyone to add blocks. There'd be no way to distinguish forks from each other and decide on a canonical one. Being able to agree on a particular fork as being the "valid" one in a decentralized manner is the fundamental secret sauce of what makes cryptocurrency work. All the various protocols boil down to ways of solving that one particular problem.
Wow, you went from zero to furious at the drop of a hat. And I'm not a "bagholder", as I've said in other comments, I'm just interested in the tech.
I haven't argued any of these facts. "How TF else should they do it?!" could be my line here, except that I'm trying to remain civil so I wouldn't have worded it that way. This ultimately comes from your statement:
Another damning aspect of their staking tech is that, in order to stake to a pool, you need to lock your tokens away, making them impossible to spend for a specified time period.
Which I still don't see as "damning" because - as you just said - how else would they do it? Cardano and Polkadot do it the same way, they've just changed the value of what that "specified time period" is.
I specifically mentioned Rocket Pool's rETH as an example of delegated staking that would let you sell your staked tokens more quickly, that's on Ethereum so if the exit queue is too long for you there you can try that instead.
Yup, more insults, and rejection of another example. You even explicitly state you don't know what the example is, you're just convinced it's useless because it involves cryptocurrency. Nicely circular reasoning.
How about Golem? It's a decentralized cloud computing marketplace. And I should note preemptively, just because you don't use it doesn't mean nobody does.