I have sympathy for countries banning cryptocurrency trading. Most of it is a scam. Cryptocurrencies are mined using government-subsidized resources. The end result of cryptocurrencies is a net loss for many people, and a win for a select few. Nope, don't mind if it's banned.
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Replying to @oleg008
Lol, is that the generation of crypto coins which have an ICO but no product? I don't know what third gen cryptocurrencies are haha.
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Replying to @yoshuawuyts @oleg008
Cryptocurrencies in a nutshell: pretty decent technological innovations which happen to be about money which in turn attracts swarms of greedy opportunists that will drown you in megalomaniac whitepapers.
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Replying to @andrestaltz @yoshuawuyts
The tech itself is actually not about money, it is actually decentralized secure contracts, i like that. Still have no trust because I don't fully understand how it is technically done in the 3rd generation. Need to spend some time on it.
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Replying to @oleg008 @andrestaltz
My understanding of "smart contracts" is that it's throwing tech at what essentially is a people problem. Now secure ledgers are interesting. But we don't need a blockchain to achieve that. Using a blockchain actually a poor design because throughput is too slow. So yeah, nah.
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Replying to @yoshuawuyts @andrestaltz
He claims it to be fast in that video, dunno how fast though and how is it still secure.
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If you need global consensus on a ledger you're going to have poor throughput, by design. Latencies will always mess you up. The point of a blockchain is to have global concensus. It's not going to be fast.
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Replying to @yoshuawuyts @oleg008
Also it's gonna be many GB or TB, replicated by thousands of hard drives.
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