Re:As an investor, why is crypto so hard to value?
by jakupovic on Sunday December 12, 2021 @09:03AM
(#29529677)
No it does not. Immutable for use doesn't mean it cannot change for example if the title of your house is on the blockchain when you sell it a new immutable transaction referencing your original immutable transaction would be created. Same as rolling out a new version of log4j
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Re:As an investor, why is crypto so hard to value?
by UweSchmidt on Sunday December 12, 2021 @09:34AM
(#29529933)
Adding a new transaction in a new block (e.g. for a house sale transaction) is different from undoing software issues (log4j, the "DAO hack" on Ethereum). The former is problematic due to the oracle problem, the latter invalidates the concept of the blockchain entirely; it means I could lose the house because a mining/staking majority, or a vocal group on the Ethereum subreddit agreed to "fix" something on the existing blockchain. That such a sacrilegious thing was allowed to happen is evidence that no one cares except to get rich through the coins they got early (or launched themselves).
(Of course there are many more ways I could lose a house that's ledgered on a blockchain, one thing I missed earlier: The impossibility for an individual to operationally secure the secrets for the crypto scheme against theft or loss.)