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InitialsDiceBearhttps://github.com/dicebear/dicebearhttps://creativecommons.org/publicdomain/zero/1.0/„Initials” (https://github.com/dicebear/dicebear) by „DiceBear”, licensed under „CC0 1.0” (https://creativecommons.org/publicdomain/zero/1.0/)UB
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6
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1,522
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8 mo. ago

  • Smart contracts are designed, programmed and, if they’re done right, rigorously audited for correctness.

    What do these "smart contracts" make? And why do we need to burn up tons of fossil fuels, just to have contracts like we had before?

    And how is this better than a typical contract?

    https://www.zdnet.com/article/hackers-hijack-smart-contracts-in-new-cryptocurrency-token-rug-pull-scams/

    Bitcoin was relatively simple, Ethereum is not.

    Both are simple ponzi schemes.

    They’ve spent years crafting these systems to function for PoS, L2 support, sharding, rollups, etc., at scale.

    And all that time, they are still ponzi schemes that do none of the above very well. We've had all of that in the merchant payment systems for decades now, all without the need to consume more electricity than many small nations, just to approve a transaction.

  • There is no utility really, for ponzicoins. You can't make anything from it. You can use it to make anything. You can't eat it. You can't hydrate with it. And you can't use the notes to summon military aid.

    I suppose you can buy drugs with it. Maybe.

    So yes, it's a Greatest Fool game.

  • A country, itself, cannot go "bankrupt".

    You wanna know how we can settle debts, for pennies on the dollar, today, right now?

    Mint a 10 gajillion USD coin. Now, pay all debts. Now, destroy 10 gajillion USD coin.

    See? Impossible to go bankrupt, if you're the buyer, generator, and seller of something, and there's always a willing buyer.

  • They’re valuable as long as someone is willing to purchase it.

    Government based fiats always has the guarantee that the government will accept them to settle your taxes.

    So, as long as the government exists, there's a buyer for the currency.

    Not the case with made up ponzicoins.

  • Initially makes me wonder how the employer could be so dumb as to give one employee so much access.

    Right now, just based purely on the access I need to do my day-to-day job involves me having access where I can pretty much nuke everything from orbit, with an ssh loop.

    At some point, you need to trust your employees, in order to get work done. Sure, you can lock it all down tightly, but then you just made work take longer. It's a trade off.