los angeles crypto bros reporting that they lost their life's savings because they had their seed phrase stored in their house is exactly why cryptocurrency is way better than a regular bank (/s)
#LAFires #LosAngeles #LosAngelesFires #crypto #cryptocurrency #bitcoin #btc #seedphrase
@cryptadamist @molly0xfff @davidgerard
With full power of your own money you have full responsibility.
It is like having all your savings cash under the mattress. Probably not a great idea. But it does show an important property of both cash and bitcoin. If you truly own something it is yours to lose.
There is value in having money that is truly mine. With democracy in the middle of a slow motion train wreck collapse in the US I hope the partly sane part of the US will see the value.
@cryptadamist @molly0xfff @davidgerard
Not really sure why I try anymore. Bitcoin is now so deeply partisan in the US. I will not convince anyone...
Sorry for bothering you
@emil @cryptadamist @molly0xfff @davidgerard
Have fun ~staying~ making yourself poor!
@Orb2069 @cryptadamist @molly0xfff @davidgerard
God knows I have had enough with that from the other side as well with the "have fun staying poor" shit
@emil @cryptadamist @molly0xfff @davidgerard
You scrambling to dump your bags on idiot preppers isn't the scintillating discussion you think it is.
@Orb2069 @cryptadamist @molly0xfff @davidgerard
Do you think everyone that advocates for bitcoin has that agenda?
@emil @cryptadamist @molly0xfff @davidgerard
The protocol itself is only interesting in a "man bites dog" way - congrats on finding a way to make unnecessary complexity useful.
IME Everyone else is pushing it as a solution for something (you included), when it's -at it's best- a CS party trick. Whether or not they're doing it in bad faith is really the only variable.
@Orb2069 @emil @molly0xfff @davidgerard eh, i'd say monero & ethereum (and to a lesser extent bitcoin) are a bit more than "a CS party trick". they're actually pretty impressive when you work with them. the problem is that second part: literally everyone in crypto is operating in bad faith trying to present an interesting distributed data store as literally money, which is not what it is.
https://universeodon.com/@rdviii@famichiki.jp/113786491524377189
@[email protected] the distributed ledger is a fantastic idea and an interesting data structure, and probably useful in a lot of distributed systems problems at the scale of, say, a web server farm or distributed storage system with a small number of replicas. But it is NOT NOT NOT, in the original design, something that should be used at global scale, and a lot of the academic literature is small patches on a fundamentally misused idea.
@cryptadamist @emil @molly0xfff @davidgerard
They're complex, and complex things are all interesting, but compared to cache invalidation or fourier transformations?
@Orb2069 @emil @molly0xfff @davidgerard i dunno i am a hardcore sceptic who literally thinks crypto is demonic and fwiw i used to take the "CS party trick" side but then i actually worked with the chains a bit and now i actually think the ethereum virtual machien is kind of an impressive technical achievement. ymmv.
https://cryptadamus.substack.com/p/cryptocurrency-is-a-hideous-monstrosity
⚯ Michel de Cryptadamus ⚯
Emil 🇵🇸
Orb 2069
David Gerard
Luna Lactea