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A comment on It's time for us in the tech world to speak out about cryptocurrency. Parent comment

Re:It's time for us in the tech world to speak out about cry... by lottin on Sunday May 30, 2021 @08:13PM (#27338390)
Right, the thing is if I want to involve a third party (and I definitely want that), I wouldn't use a decentralised system to begin with, because decentralised means inherently inefficient and therefore expensive.
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Re:It's time for us in the tech world to speak out about cry... by arcticbull on Monday May 31, 2021 @02:30AM (#27340893)
Especially since you have to trust a third person anyways and once you're trusting anyone, you lose all the blockchain guarantees.
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Re:It's time for us in the tech world to speak out about cry... by ajkdhcb2 on Tuesday June 01, 2021 @02:44PM (#27359378)
False. The third party can't take the money, it can only be given to the receiver or back to the sender. That's how multisig works.
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Re:It's time for us in the tech world to speak out about cry... by arcticbull on Tuesday June 01, 2021 @05:53PM (#27361891)
Correct, you have to trust the extra signer to make a good faith representation of what happened in reality. That makes the transaction inherently trustful.
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Re:It's time for us in the tech world to speak out about cry... by Paradigma11 on Monday May 31, 2021 @02:34AM (#27340925)
Sure its inefficient. For example the complete Tezos network uses around 10kW of power while a centralized solution might only 1kW. Relevance: None.
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Re:It's time for us in the tech world to speak out about cry... by ashtonkem on Monday May 31, 2021 @09:08AM (#27343691)
Electricity is far from the only measure of efficiency in financial transactions. Cost overhead is another one.
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