Comment on Please Stop

• theneverfox@pawb.social ⁨7⁩ ⁨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 ⁨7⁩ ⁨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 ⁨7⁩ ⁨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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    • Knock_Knock_Lemmy_In@lemmy.world ⁨7⁩ ⁨months⁩ ago

      you made the assumption I didn’t understand it…

      No. You admitted those words mean nothing to you.

      what if something goes wrong

      You plan for each eventually and ensure all responsibilities are understood.

      stolen credit cards, stolen identity wring transaction,

      Multisignature, limit controlled wallets

      what if the validators disagree what is the truth ala bitcoin split?

      Wait for a few blocks before assuming your transaction is confirmed. Don’t be dishonest during a fork event.

      Blockchain is woefully inadequate to manage finances…

      The general public is woefully uneducated and unsupported for blockchain managed finances, but the technology is fine.

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      • kameecoding@lemmy.world ⁨7⁩ ⁨months⁩ ago

        I have literally explained to you what I meant, there is nothing to admit, lmao.

        This is the issue with cryptobros you just think you are so much smarter than everyone else, and everyone else must be stupid and just not understand how crypto works.

        Meanwhile you cant even see the huge flaws with the technology, you think " just wait" while there is a disagreement and unrecoverable split in the network is a viable solution…

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