Re:Fe – An emerging smart contract language for the Ethereum...
by d1a2n on Sunday December 05, 2021 @04:22PM
(#29453413)
And yet the value keeps going up. I appreciate you people, the constant reminder that so many of you hold these incorrect views really magnifies the sense of "getting in early".
Re:Fe – An emerging smart contract language for the Ethereum...
by preseinger on Sunday December 05, 2021 @10:14PM
(#29455733)
Markets can be irrational, especially when they're unregulated.
* Proof of Work is unethically wasteful. Proof of Stake is unethically oligarchical.
* Far too wild of price swings to be used as a currency.
* Inventory tracking with blockchain has the same problem as any other inventory tracking system, that it relies on humans putting in truthful information.
* Smart contracts assume that the hard part of a contract is the enforcement, not the meeting of the minds. Having a human as part of the conflict resolution (i.e. the legal system) is necessary.
* Irreversible transactions are a bug, not a feature, and are what drove the rise of ransomware.
* Negative impact on the GPU market for actually productive uses.
Cryptocurrencies are fantastic for money laundering and paying for illegal services, but I don't think those are exactly good reasons to keep them around.