What Are Smart Contracts? Unpacking Today’s Digital Agreements - In the digital currency realm, smart contracts have enhanced the financial industr... - https://news.bitcoin.com/what-are-smart-contracts-unpacking-todays-digital-agreements/ #decentralizedorganizations #decentralizedfinance #learning&insights #peertopeertrading #digitalcurrency #smartcontracts #digitaltokens #tokenization #automation #blockchain #realestate #ethereum #solidity #audits #thedao #risks #nfts

What is the #dividing #line between #knowledge and #wisdom? #thedao

@strypey

Maybe those "otherwise very smart people" know CAP theorem?

Or maybe they know a #Ponzi scheme when they see one?
Or at least when crypto bilionaire explain #DeFi as Ponzi schemes?

Or maybe they remember #TheDAO, that proved once for all that #blockchain can be rewritten?

Or maybe they know several better alternatives to any application of blockchain (except for scam)

Or maybe they know #PoS based cryptocurrency are institutionalozed plutarchies?

Or maybe they know PoS assumes people having their highest stake on-chain (that is NEVER the case)?

Or maybe they follow closely the matter since years (I started somewhere in between 2009 and 2012) and saw countless ICOs turning as plain scams?

Or maybe they know about #Tether?

You focus on the huge waste of energy of but in fact you are ignoring the legitimacy criticism of #cryptocurrency.

Yes the cryptoindustry waste a huge amount of energy even if you do not count the one wasted in marketing, propaganda and lobbying.

But that's just one of the issue.

@ilnulla

E’ già stato fatto, e non è finita bene: https://en.wikipedia.org/wiki/The_DAO_(organization)

Nessuno parla mai di #TheDAO quando promuove le #criptomenate perché ha dimostrato (matematicamente ed empiricamente, per costruzione) quanto vuota sia TUTTA la narrazione della #blockchain.

La sai quella che la blockchain non si può riscrivere?

Ecco è stata riscritta.
Ed è stato facilissimo!

Gli sviluppatori di #Ethereum hanno modificato il software, l’hanno aggiornato et violà, le transazioni di The #DAO erano sparite!

🤯

Sennonché non tutti accettarono di buon grado il nuovo corso.
Molti per far soldi (double spending), qualcuno perché dopo anni a ripetere “Code is Law!” “Code is Law!” non poteva sputtanarsi così di fronte a tutti.

Così il fork riscritto ha dovuto cambiare nome, da #ETC a #ETH.

Ma nonostante lo scandalo globale del 2016, oggi tutti fanno finta che non sia mai successo, che la blockchain sia davvero immutabile etc…

BALLE.

@quellodeilobri @SimoneSilvestri @informapirata @italianverse@mastodon.uno