Abso-fucking-lutely. The best time to not be involved in crypto was always, and the second best time is now. Get out now if you have any sense.
But I have drugs to buy and cannabis to smoke and joints to roll before I sleep.[0]
More seriously, there are use cases for cryptocurrency (smart contracts are a different think, unaddressed here), they're just mostly illegal.
Whether that illegality is appropriate or not is another question.
That said, there are use cases for cryptocurrency.
[0] With apologies to Robert Frost.
Let me address this, then:
- they are not smart
- they are not contracts
- they are programs written in esoteric programming languages running on world's slowest and most inefficient VM
- due to esoteric nature their own authors cannot find trivial bugs in their implementations that are exploited at scale which would make any real platform nonviable
- cannot be updated or reverted because blockchain
- have literally no use outside the virtual imaginary world of crypto
- have zero legal standing, and cannot be enforced
- in every single case would be more efficient and better served by Visual Basic running on a single Raspberry Pi from a sqlite database.
Literally everything I wrote applies to Uniswap.
> because somebody has to own and control that database and physical device.
You've missed the point completely.
Where exactly in this comment did I say that: https://news.ycombinator.com/item?id=33606218?
> If that is your point, it's a funny one to make in a thread about a CEX collapsing.
What's funny is inventing arguments for other people and valiantly fighting against them.
"Smart contracts" were mentioned as "other uses of crypto currency, as yet unaddressed". I addressed them. I couldn't even care less how you made the illogical leap from that to whatever you accuse me of.
> in every single case would be more efficient and better served by Visual Basic running on a single Raspberry Pi from a sqlite database
Let me rewrite this on point in a single sentence "this ineffecient unenforceable bug-ridden fest that can only use the imaginary tokens can be run more efficiently from a single Raspberry Pi".
Does this help?
But, you are still making the claim that a decentralized smart contract protocol would be better replaced with a centralized traditional database on a Raspberry Pi. We disagree.
Come on. You started with assigning me arguments and thoughts I never said and thought.
> you are still making the claim that a decentralized smart contract protocol would be better replaced with a centralized traditional database on a Raspberry Pi.
A person who claims that their opponent makes arguments in bad faith ignores everything their opponent says and keeps pretending their opponent said something he didn't.
There are eight bullet points. Read them. Understand them. However, I'm not going to continue this conversation.