Mom's new boyfriend is a smart fella, but her son seems to be a fart smella.
Modern day poetry, 👌👌👌👌
Most hilarious tongue twister for kids under 10:
One smart fella, he felt smart
Two smart fellas, they felt smart
Three smart fellas, they all felt smart
I’ve read that blockchain itself is a good technology. NFTs are a laughably absurd attempt to exploit that technology for profit.
Xitter op needs to shut up.
Blockchain is a solution in search of a problem. A way to establish trust while not trusting any party is a cool concept, but in the real world it's far easier to establish a source of trust.
Congratulations, now your trust relies on your subject never becoming important enough that someone bothers to run 50%+1 of the nodes in your network which means only very, very large subjects (or ones where trust wasn't very important in the first place) ever even have a chance of that not happening. What do you say? Your technology doesn't scale to very, very large subjects because of abysmal transaction rates?
now your trust relies on your subject never becoming important enough that someone bothers to run 50%+1 of the nodes in your network
Yup. Very well said. People don't realize the extent of wealth inequality (and how ridiculously resource intensive blockchain tech is). If anything important were to be decide by a blockchain, the top 1% would control the network.
More on wealth inequality here.
It is a bad solution though, because it revolves around wasting tons of energy in solving made up problems no one actually needs the solution to. I know there's alternative cryptocurrency that use better methods or solve actual problems but 90% of it is bitcoin.
What problem does blockchain solve?
Having too much electricity and not enough CO2.
We recently developed AI for that purpose though which does the same thing but is useless in occasionally funny ways.
Apparently, it can be very secure. If “pieces” of a secure key are stored in multiple places, for example, only changing one link in the “chain” means it won’t match with the others. They ALL have to be changed at the same time, which is virtually impossible to do in secret.
Please note that I am far from an expert on the subject. I’m paraphrasing an article I read months ago.
Can’t you takeover a blockchain by owning the majority of a block chain, or by having a majority of the processing power to compute hashes?
Yes which is part of why the major chains are owned and controlled by companies, but then that makes the whole thing pointless. IMO, a company controlled blockchain may as well just be a DB cluster, it would be faster and more efficient.
Are you saying that they “solve” that by never giving up more than 49% stake?
That… seems like a bad solution
Essentially, verifiability (the token exists on the blockchain), de-duplication (each token can only exist once on the blockchain), and proof of ownership (only one account number can be associated with each token on the blockchain). There's nothing wrong with this idea in a technical sense and it could be useful for some things.
But... the transaction process is computationally expensive. For the transaction to be trustworthy, many nodes on the blockchain network must process the same transaction, which creates a whole bunch of issues around network scaling and majority control and real-world resource usage (electricity, computer hardware, network infrastructure, cooling, etc).
And beyond that, the nature of society and economics created a community around this unregulated financial market that was filled with... well, exactly the kind of people you'd expect would be most interested in an unregulated financial market - scammers, speculative investors, thieves, illegal bankers, exploitatitive gambling operators, money launderers, and criminals looking to get paid without the government noticing.
The technology can solve some interesting problems around verifying that a particular digital file is unique/original (which can be useful, because it's extremely easy to make copies of digital information) but it creates a long list of other problems as a side effect.
Intermediary free monetary transfer, lack of trust, transparency
It does only the last one and only partially.
It's one of those things where scientists discovered something interesting and novel, and then a bunch of dumb grifters came in to try and make it their new snake oil.
A very, very long time ago, back when Bitcoin was viewed as a currency instead of an "investment" platform, Bitcoin kinda fulfilled the ideal use case for the blockchain. I think now the general public is just too soured on them for that to ever be the case, unless Elon makes Bitcoin the new currency of the U.S...
You need to explain that, though they are generally rich, it's not unusual for unheard of princes to occasionally fall on hard times and have their fortunes compensated until they are able to pay a ransom to get a corrupt bank or government to release their vast wealth back to them AND that they are almost always grateful to anyone who assists them in paying that ransom.
Oh wait, sorry, wrong scam.
Wouldn't you find it useful to be able to prove that you paid for something? When you buy an NFT, you're buying just that: the ability to prove that you bought it. And sometimes it even comes with a copy of an image or a spaceship you might just be able to use in a video game or just hold on to until we develop the technology to live in video game spaceships and you sell it for massive profits!
Did Elon write this?
Relationships are like the blockchain.
There's no trusted, central database of all relationships that determines what is or isn't cheating.
That trust is negotiated in each interaction.
Marriages follow the traditional method of a chain of trust. There is a central database that lies with the government or the church, and everyone decides which database they want to trust.
You must have an interesting social life that every time you hook up, all past relationships immediately contact each other and vote on whether you are a cheater.
My advice would be "shut the fuck up and listen".
This is bait. It's gotta be.
Obv
Turn that into an NFT, nerd.
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