Comment on Please Stop

• Knock_Knock_Lemmy_In@lemmy.world ⁨9⁩ ⁨months⁩ ago

  Cryptography - means that only you can make changes. No database administrator. No hacker. No-one but you.

  Limited actions - means the changes you make must follow rules that cannot be altered by anyone.

  Both impossible to implement on a normal DB, which is why bitcoin was revolutionary.

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  • kameecoding@lemmy.world ⁨9⁩ ⁨months⁩ ago

    1. thats not what cryptography means, and is a huge fucking downside especially for banking which us centrally controlled

    2. It’s called triggers, user roles etc, once again you dont want this to be unalterabale for banking because what if regulations change…

    Only thing bitcoin revolutionized was the speed with which scammers can dupe people out of their money.

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    • theneverfox@pawb.social ⁨9⁩ ⁨months⁩ ago

      They were saying what it meant in this context

      Meaning, in a DB, the admin could change roles and modify anything.

      Database triggers can have bugs, and we generally don’t let third parties log into the database directly because it’s a huge attack surface

      In blockchain, without a key you’re cryptographically locked out. The only way around that is if the network as a whole changes their code to a version that allows something like that

      It’s just a ledger where every entry is signed by a private key. That’s a fantastic structure for certain specific use cases…

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    • Knock_Knock_Lemmy_In@lemmy.world ⁨9⁩ ⁨months⁩ ago

      thats not what cryptography means,

      You didn’t even know what “those big words” meant a second ago.

      downside especially for banking which is centrally controlled

      Banking doesn’t need to be centrally controlled. It only has been for the past few hundred years.

      2. It’s called triggers, user roles etc,

      Why pay and trust a 3rd party control those?

      what if regulations change…

      You update the smart contracts

      The only thing bitcoin revolutionized was the speed with which scammers can dupe people out of their money.

      Almost true. Scams are not the only thing revolutionized.

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      • kameecoding@lemmy.world ⁨9⁩ ⁨months⁩ ago

        Dude, my name literally contains “coding” you made the assumption I didn’t understand it…

        Yeah banking needs to be controlled because what if something goes wrong, you can’t be this dense, stolen credit cards, stolen identity wring transaction, what if the validators disagree what is the truth ala bitcoin split?

        Blockchain is woefully inadequate to manage finances…

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