Ronin hacked, $600M in Ethereum stolen

[Born2Computer]

You knowingly give your money to corporations through stalks in the hope you'll make more. Ludacris!

See how silly that sounded? Calling crypto a scam and useless and whatever other adjective you felt like using in 2010ish, I might have supported you. But now? Nah.

The bigger issue with crypto is the lax security. Banks don't get hacked like this because they always think they will. Constantly worry and watching. Crypto came out and goes "lol blockchain go brrrr" with constant talk about how it's "on the blockchain and can be tracked", so I think people assume it's impervious to outside agents, when that's a horrible opinion to have of something so backed by technology.

Crytp is based on being decentralized and ungoverned. You start to covern, crypto loses its value. Stock market has the SEC, and banks have the FDIC. Id rather have some protection than no protection.

 

[Armenius]

Crytp is based on being decentralized and ungoverned. You start to covern, crypto loses its value. Stock market has the SEC, and banks have the FDIC. Id rather have some protection than no protection.

Don't kid yourself. There are large stakeholders in crypto holding enough that they get to determine the fate of any algorithm they control. To keep calling crypto "decentralized" is just fooling yourself into still believing the dream of having value not controlled by banks or governments when that is far from the truth at this point.

 

[kirbyrj]

If you put $50 in bitcoin 10 years ago on April 4th, 2012, that $50 would be worth $464,141 on April 4th 2022.

You can kid yourselves all you want, but if you had known that would happen, all of you would have put at least $50 into BTC and let it sit for 10 years.

 

[prtzlboy]

If you put $50 in bitcoin 10 years ago on April 4th, 2012, that $50 would be worth $464,141 on April 4th 2022.

You can kid yourselves all you want, but if you had known that would happen, all of you would have put at least $50 into BTC and let it sit for 10 years.

i mean, yeah? Of course? Who wouldn’t? I know a guy who did exactly that (actually a lot more than that to a tune of about 50x that at least, lots in the form of the original casaceus coins--he even gave me one when they were worth less than $100 and said keep it as a souvenir. I sold it like a dummy before the big boom a couple years ago). He has just always had a keen interest in currency since before crypto even existed, and since it just happened to be right up his alley he bought a crap ton on a whim. He thinks the idea has some merit but as it currently is implemented it is actually pretty worthless. That doesn’t stop him from unloading a little bitcoin once in a while to people who watch Matt Damon commercials, because duh.

ir was pretty funny back in 2014 when it went over 1k he about had a heart attack lol.

Bitcoin itself is a pretty trash coin for actual usefulness. I can see a future where bitcoin completely crashes but crypto lives on. Ethereum might end up being useful and there’s potential out there, but right now it’s truly pure speculation. TBH I haven’t checked up on the tech and applications for a while so I’m not totally up to speed on what’s out there other than the more well known coins from a few years ago.

 

[next-Jin]

What problem is the supposedly "good" products trying to solve? I and others have been asking that from NFT believers for months and we never get a straight answer. They dance around the question. I don't see any utility in NFT that existing processes and systems don't already handle without adding the needless complexity of blockchain.

That specific comment was primarily for the projects themselves not the NFTs. I haven’t seen much of anything that NFTs are useful for yet but the possibly is there. Right now most are bs.

 

[LukeTbk]

If you put $50 in bitcoin 10 years ago on April 4th, 2012, that $50 would be worth $464,141 on April 4th 2022.

You can kid yourselves all you want, but if you had known that would happen, all of you would have put at least $50 into BTC and let it sit for 10 years.

Everyone with perfect hindsight interest in money would have took a loan on their house if they needed to buy many times all of what they own worth of Enron/Nortel/Yahoo stock or Tulips, sold them before the crash to buy a lot of shorts on them and many other products.

I think the potential for them is almost obvious, imagine almost all payment system/internet provider level right now would make you stop buying some Russian artist/company stuff, maybe NFT could make it easier to go around that.

For what it needs to be used for tho become popular for the above to work ? I, too, have a hard time seeing it, could it be cheaper on the gamedevelopper to use those and past the cost to other people versus other current anti-piracy system ?

 

[rgMekanic]