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Title: Computer Scientists say Crypto Industry is Misleading??? Post by: KennyR on June 01, 2022, 11:40:41 PM According to few popular computer scientists the crypto industry is misleading the public about blockchain technology.
The list were has 26 computer, Harvard lecturer Bruce Schneier, Microsoft engineer Miguel de Icaza and Google Cloud’s principal engineer Kelsey Hightower were few among them. This team of Computer Scientists have given a letter to the US Officials. These Computer Scientists have given few statements on cryptocurrency and Blockchain technology.
What about your view on these statements? Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: Solosanz on June 02, 2022, 12:21:56 AM The computer scientists are correct about crypto aka shitcoins, but not Bitcoin.
-Bitcoin is secure, look this post Let's say we have a trillion planet Earths. On each Earth, there are a trillion people. Each person has a trillion computers. Each computer generates a trillion keys a second. All these computers have been creating a trillion keys per second since the birth of the universe 13.7 billion years ago. 10^12 * 10^12 * 10^12 * 10^12 * 60 * 60 * 24 * 365 * 13.7 * 10^9 = 4.3*10^65. This means thay they would have so far generated approximately 0.0000000004% of all private keys. -Bitcoin is decentralized, any miners who mine Bitcoin and validate the transaction are proving anyone can take a part in Bitcoin network. -The failed to remember or lose the seeds/passphrase is the user fault, not Bitcoin. -In Bitcoin no one force you to buy it, it's on your own belief to trust Bitcoin or not. If you didn't understand and know the risk about Bitcoin, then just don't buy Bitcoin. Buy any asset without any knowledge is really dumb. -Blockchain is just a public ledger, where anyone can see any transactions. If you're referring to Bitcoin block, where it's mined and stored on the blockchain, then it's also secure since you can't add random block to the blockchain. You need to find and solve the right block, 51% attack is almost impossible when most of Bitcoin already being mined and the difficulty are increase a lot. In case if you want to learn about this https://www.oreilly.com/library/view/mastering-bitcoin/9781491902639/ch08.html Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: Crypt0S0ul on June 02, 2022, 01:35:39 AM It's not secure, it's not decentralized. Any system where you forget your password and you lose your life savings is not a safe system. I agree with Solosanz, and I guess others (Who know about Bitcoin) will be agreed. About password, This is the reason almost every Wallet and software suggest you store your keys safely. If you cannot take the risk, You shouldn't drive a bike or car too. It has the chance of a crash, and you may die. What a non-sense theory. Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: mk4 on June 02, 2022, 02:47:49 AM In summary: "Computer Scientists" makes comments on one of the most important technological and financial inventions in the last 15 years without knowing anything about money, markets in general, and the importance of decentralization.
Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: Darker45 on June 02, 2022, 03:29:58 AM To a significant extent, they are correct. Indeed, the crypto industry has a lot of misleading claims. The claim of decentralization is one but foremost. And the industry has since been promoting and selling all kinds of products and services which are said to be decentralized. Crypto laymen might be enticed because of this magic word without knowing that it's just that, a word.
Blockchain is another prostituted term in the crypto industry. What's the big deal with this new kind of database? Security? Not really. Just hours ago, a largely popular blockchain, Solana, shut down. And indeed, people are wasting not millions but billions in avoiding the banks and embracing DeFi. Well, at least I haven't read the word Bitcoin in the article. Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: ranochigo on June 02, 2022, 03:33:01 AM The definitions defined in the claims are incorrect. Bitcoin is decentralized, can you shut down all of the nodes and erase Bitcoin? It is far easier to do so for the banking systems, and the point about lifesavings isn't really about how secure it is. If you cannot be trusted to manage something as simple as this, then you would be a great target for other SE or scamming attempt. The point with volatility is perfectly valid, but I see it as an inherent problem in the people's mindset and not with cryptocurrencies in general. They should address the root cause of the problem, by educating them and eradicating this fallacy.
Point 4 and 5 are not even worth discussing. Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: odolvlobo on June 02, 2022, 03:48:32 AM Here is the letter:
Quote from: https://concerned.tech/letter-congressional.pdf Dear U.S. Congressional Leadership, Committee Chairs and Ranking Members, We are 26 computer scientists, software engineers, and technologists who have spent decades working in these fields producing innovative and effective products for a variety of applications in database technology, cryptography, open-source software, and financial technology applications. Today, we write to you urging the Committee to take a critical, skeptical approach toward industry claims that crypto-assets (sometimes called cryptocurrencies, crypto tokens, or web3) are an innovative technology that is unreservedly good. We urge you to resist pressure from digital asset industry financiers, lobbyists, and boosters to create a regulatory safe haven for these risky, flawed, and unproven digital financial instruments and to instead take an approach that protects the public interest and ensures technology is deployed in genuine service to the needs of ordinary citizens. We strongly disagree with the narrative—peddled by those with a financial stake in the crypto-asset industry—that these technologies represent a positive financial innovation and are in any way suited to solving the financial problems facing ordinary Americans. Not all innovation is unqualifiedly good; not everything that we can build should be built. The history of technology is full of dead ends, false starts, and wrong turns. Append-only digital ledgers are not a new innovation. They have been known and used since 1980 for rather limited functions. As software engineers and technologists with deep expertise in our fields, we dispute the claims made in recent years about the novelty and potential of blockchain technology. Blockchain technology cannot, and will not, have transaction reversal mechanisms because they are antithetical to its base design. Similarly, most public blockchain-based financial products are a disaster for financial privacy; the exceptions are a handful of emerging privacy-focused blockchain finance alternatives, and these are a gift to money-launderers. Financial technologies that serve the public must always have mechanisms for fraud mitigation and allow a human-in-the-loop to reverse transactions; blockchain permits neither. By its very design, blockchain technology, specifically so-called “public blockchains”, are poorly suited for just about every purpose currently touted as a present or potential source of public benefit. From its inception, this technology has been a solution in search of a problem and has now latched onto concepts such as financial inclusion and data transparency to justify its existence, despite far better solutions already in use. After more than thirteen years of development, it has severe limitations and design flaws that preclude almost all applications that deal with public customer data and regulated financial transactions and are not an improvement on existing non-blockchain solutions. Finally, blockchain technologies facilitate few, if any, real-economy uses. On the other hand, the underlying crypto-assets have been the vehicle for unsound and highly volatile speculative investment schemes that are being actively promoted to retail investors who may be unable to understand their nature and risk. Other significant externalities include threats to national security through money laundering and ransomware attacks, financial stability risks from high price volatility, speculation and susceptibility to run risk, massive climate emissions from the proof-of-work technology utilized by some of the most widely traded crypto-assets, and investor risk from large scale scams and other criminal financial activity. We ask you to take a truly responsible approach to technological innovation and ensure that individuals in the US and elsewhere are not left vulnerable to predatory finance, fraud, and systemic economic risks in the name of technological potential which does not exist. The risks and externalities related to blockchain technologies and crypto-asset investments are neither isolated nor are they the growing pains of a nascent technology. They are the inevitable outcomes of a technology that is not built for purpose and will remain forever unsuitable as a foundation for large-scale economic activity. Given these risks and externalities, together with the—at best still-ambiguous and at worst non-existent—uses of blockchain, we recommend that the Committee look beyond the hype and bluster of the crypto industry and understand not only its inherent flaws and extraordinary defects but also the litany of technological fallacies it is built upon. We need to act now to protect investors and the global financial marketplace from the severe risks posed by crypto-assets and must not be distracted by technical obfuscations which mask an abject lack of technological utility. We thank you for your leadership on financial technology and regulation and urge you to consider our objective and independent expert judgments to guide your legislative priorities, which we remain happy to discuss anytime. Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: mindrust on June 02, 2022, 04:06:59 AM
Nonsense. You can forget the whereabouts of your gold and lose it, does that mean gold is not safe?
I don't understand the motive here. Can't comment on this.
Not sure about "unsound" but crypto is definitely very volatile and It is indeed being actively promoted to retail investors. And again, it is true that most investors don't have an idea of what they are doing. So, I pretty much agree with this.
If you want a centralized server you can have one for $100. The price for decentralization is much higher. So?
Banking system did this to themselves. If he don't like crypto, he don't have to participate. What about your view on these statements? He has some legit concerns but the rest of the world won't care and crypto will do its thing anyway. Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: bittraffic on June 02, 2022, 04:13:35 AM It's not secure, it's not decentralized. Any system where you forget your password and you lose your life savings is not a safe system. I agree with Solosanz, and I guess others (Who know about Bitcoin) will be agreed. About password, This is the reason almost every Wallet and software suggest you store your keys safely. If you cannot take the risk, You shouldn't drive a bike or car too. It has the chance of a crash, and you may die. What a non-sense theory. When someone forgets his password and lose life savings, its not the system's fault, its his fault that he didn't remember it. When someone can just reset the password after recovering from an administrator of a system, then that's what a centralize system is. Which is also what decentralized system were trying to eliminate due to the risk from administrator's judgement like these scientists. Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: pooya87 on June 02, 2022, 04:20:45 AM This is a problem I've been talking about for a couple of years now. A large number of shitcoins were created and some people looking from outside look at the whole thing that is also overshadowing bitcoin so they end up judging the whole thing and make an statement about the whole thing that includes thousands of shitcoins.
In other words they look at altcoins and judge bitcoin! Otherwise every single statement they made is wrong a bout bitcoin but 100% correct about altcoins. Not just that, we've been saying pretty much the same things about altcoins ourselves, we didn't need some outsiders comment on them. Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: odolvlobo on June 02, 2022, 04:25:51 AM Quote Today, we write to you urging the Committee to take a critical, skeptical approach toward industry claims that crypto-assets ... are an innovative technology that is unreservedly good. Fair enough. Quote We urge you to resist pressure ... to create a regulatory safe haven for these risky, flawed, and unproven digital financial instruments ... Bitcoin doesn't need a regulatory safe haven. Quote ... and to instead take an approach that protects the public interest ... Note that government interest is not necessarily the same as public interest, especially when the government interest is self-serving and benefits the elites. Quote ... and ensures technology is deployed in genuine service to the needs of ordinary citizens. Ordinary citizens can decide for themselves if Bitcoin serves them or not. They don't need governments and academics to tell them what is good for them. Quote We strongly disagree with the narrative ... Fair enough. Quote Not all innovation is unqualifiedly good; not everything that we can build should be built. The history of technology is full of dead ends, false starts, and wrong turns. Append-only digital ledgers are not a new innovation. Irrelevant. Quote Financial technologies that serve the public must always have mechanisms for fraud mitigation and allow a human-in-the-loop to reverse transactions.. That is your opinion, and the "deep expertise your fields" provides no support for that opinion. Quote Finally, blockchain technologies facilitate few, if any, real-economy uses. That is, of course, a narrow-minded view and it demonstrates a lack of any imagination and foresight. Besides, if cryptocurrencies never show any promise, they will go away without the need for any encouragement on your part. Quote The risks and externalities related to blockchain technologies and crypto-asset investments are ... are the inevitable outcomes of a technology that is not built for purpose and will remain forever unsuitable as a foundation for large-scale economic activity. What about as a foundation for small-scale economic activity, instead? Your small-minded views again show your lack of imagination and foresight. Quote We need to act now to protect investors ... from the severe risks posed by crypto-assets ... The best protection is information and not restrictions on what people can decide for themselves. Your kind of protection is a foundation of tyranny. Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: so98nn on June 02, 2022, 05:12:21 AM Quote "The claims that the blockchain advocates make are not true. It’s not secure, it’s not decentralized. Any system where you forget your password and you lose your life savings is not a safe system.” Its highly secure, and it's secure with thousands of nodes getting integrated with data which is almost next to unreachable. Peeps are so crazy about it they have started to integrate quantum computing to break the code with at-most failure in the same. Quote “We urge you to resist pressure from digital asset industry financiers, lobbyists and boosters to create a regulatory safe haven for these risky, flawed and unproven digital financial instruments" There is no pressure at all. That's the beauty of crypto space. If you want to use it then use it. There is no documentation needed to transact on the blockchain, you are doing it at free will, so that statement is definitely contradictory. Quote "Crypto-assets have been the vehicle for unsound and highly volatile speculative investment schemes that are being actively promoted to retail investors who may be unable to understand their nature and risk.” The volatility is since it's inception but slowly every trader using it to day trade effectively and earn their daily wagers. So I would care less about its volatility in the long term usage. Quote The computational power behind blockchain is the equivalent of what one could do in a centralized way with a $100 computer. Thats really misleading statement. There is no proof like that. If you have to create solid system which can not be hacked, and has data integrity at its best then you need to invest into technological advances. Let's not forget those miners do get paid for the same. Quote “We’re essentially wasting millions of dollars worth of equipment because we’ve decided that we don’t trust the banking system.” We are not, because its a system where energy is utilised, we pay bills, money keeps circulating in the system and life goes on smoothly in the crypto space. Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: bitterguy28 on June 02, 2022, 05:17:49 AM The computer scientists are correct about crypto aka shitcoins, but not Bitcoin. Thanks for sharing this Old post as it is worth to understand and believe as this will also boost Bitcoin supporters Mind and Heart reading this post .-Bitcoin is secure, look this post Let's say we have a trillion planet Earths. On each Earth, there are a trillion people. Each person has a trillion computers. Each computer generates a trillion keys a second. All these computers have been creating a trillion keys per second since the birth of the universe 13.7 billion years ago. 10^12 * 10^12 * 10^12 * 10^12 * 60 * 60 * 24 * 365 * 13.7 * 10^9 = 4.3*10^65. This means thay they would have so far generated approximately 0.0000000004% of all private keys. I also believe that it is about SHitcoins and not Bitcoins because people tend to relate bitcoin to those shitcoins . It's not secure, it's not decentralized. Any system where you forget your password and you lose your life savings is not a safe system. I agree with Solosanz, and I guess others (Who know about Bitcoin) will be agreed. About password, This is the reason almost every Wallet and software suggest you store your keys safely. If you cannot take the risk, You shouldn't drive a bike or car too. It has the chance of a crash, and you may die. What a non-sense theory. agree as well.. and Computer Scientist ? do they really understand this as a financial matter? Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: crwth on June 02, 2022, 05:21:20 AM I think they just wanted to make a statement about Bitcoin and how some other people have been misled by people who possibly don't know much about the crypto industry. Maybe they have relatives that a scam has victimized, and they have decided to let people "know" what they thought about crypto in general. It's still going to be per person to decide what they will do with their involvement in crypto.
Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: krishnaverma on June 02, 2022, 05:34:02 AM Bitcoin has been in existence for few years and no one has been been able to breach its security. It is completely safe and if we compare with physical money, it is easy to transfer as well. You can carry large amounts of money with convenience.
Now regarding it being misleading, it is not entirely true. There are some shitcoins which make fake promises and then break the trust of people. People should do own research before investing in any alt coin. But bitcoin in general is just as what it was claimed to be. Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: davis196 on June 02, 2022, 05:37:19 AM Quote The computational power behind blockchain is the equivalent of what one could do in a centralized way with a $100 computer. This is basically trolling. ;D So they claim that a 100$ computer can consume more electricity than the country of Denmark. ;D All their bullet points are the typical "crypto hater" BS we've heard for years. I'm surprised they didn't add the "crypto mining is polluting the environment" mantra or the "crypto is being used by criminals and terrorists" mantra. Nobody is actively promoting cryptocurrencies as a some sort of financial Eldorado (except a few scammers and con artists pumping their shitcoins). There's no perfect system, that can protect the humans from their own stupidity. Even blockchain technology can't do this. I remember a guy, who wrote "everybody loves decentralization, until there's no customer support and refund option". He's kinda right. Most of the people aren't responsible enough to handle their own assets. Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: Kakmakr on June 02, 2022, 05:50:25 AM The whole "Big Pharma" industry are full of experts and see what they did with the Covid fiasco. ::) The government was misguided by experts in the medical industry and millions of people died as a result. The severe consequences of the vaccine was ignored and the long-term affect of the vaccine will kill a lot more people. (amyloid clots)
Let's see the names of the so-called "expert" computer scientists and then dig a little deeper to see who they worked for and who are they working for now. (Even experts can be bought to push a specific agenda) ;) Their goal is to “counter-lobby” current Blockchain lobbying groups....... SO, we know what their agenda is. (Question is.. who is paying for this) Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: Henrobakkara on June 02, 2022, 06:04:31 AM The whole "Big Pharma" industry are full of experts and see what they did with the Covid fiasco. ::) The government was misguided by experts in the medical industry and millions of people died as a result. The severe consequences of the vaccine was ignored and the long-term affect of the vaccine will kill a lot more people. True thaaat. We all know what this whole big fiasco about Bitcoin is. same old people now using so-called computer scientists to try to discredit Bitcoin so it will look more valid because other people have tried and have failed. It's simple, don't invest in what you don't understand as someone also mentioned earlier but I don't get why you need to convince others to follow you. Let's see the names of the so-called "expert" computer scientists and then dig a little deeper to see who they worked for and who are they working for now. (Even experts can be bought to push a specific agenda) ;) Their goal is to “counter-lobby” current Blockchain lobbying groups....... SO, we know what their agenda is. (Question is.. who is paying for this) Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: o_e_l_e_o on June 02, 2022, 07:20:38 AM I'm very disappointed to see Bruce Schneier's name on this list. He sits on the board of both the EFF and The Tor Project, and as such, is supposed to be a proponent of digital rights, self custody, privacy, censorship resistance, and all the things that bitcoin stands for. To see his name, and therefore EFF and Tor, attached to this statement is highly concerning:
Quote Similarly, most public blockchain-based financial products are a disaster for financial privacy; the exceptions are a handful of emerging privacy-focused blockchain finance alternatives, and these are a gift to money-launderers. Financial technologies that serve the public must always have mechanisms for fraud mitigation and allow a human-in-the-loop to reverse transactions; blockchain permits neither. A board member of both the EFF and Tor saying that all systems should have someone in the middle who can monitor everything you do and reverse it if they want? This is the complete opposite of what these projects stand for.And as I've said before, I always find it funny when anyone says something along these lines: Quote Finally, blockchain technologies facilitate few, if any, real-economy uses. Oh, bitcoin doesn't have any real world use? And here's me spending it every other day for over 5 years at probably hundreds of different merchants by this point. Whoops! Guess that doesn't count?On a wider note, what pooya87 has said above is absolutely spot on. Everything they have said - insecure, centralized, risky, no real world use, scams, etc. - all hold true for 99% of alts. Altcoins give bitcoin a bad name by association, and the sooner that alts all go the way of Luna and collapse in a disaster of their own making, the better for us all. Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: NotATether on June 02, 2022, 11:31:16 AM One word: Frauds!
Banks could just scrap their decades-old legacy, insecure and unsafe processing systems and adopt decentralized blockchain tech in their place. But since they don't want to do this, we have to show them the hard way. Once again, people are trying to maintain the idea that Bitcoin and other cryptos (those that are useful, that is) are mainly used for trading. This is not what Satoshi had in mind when he invented the blockchain. I've said it in quite a few places, they are meant to be an instrument for global cross-payments. It's not merely because we don't trust the banking system, it's because the technology powering it has become obsolete. It would not be an exaggeration to say America's banks alone sustain hundreds of attempted hacks per day - against COBOL programs and mainframes! Meanwhile, fintechs are trying really hard to [among other things] bank the unbanked, with their own proprietrary systems. Nothing wrong with that, and hey - it's good that these guys can now do what banked people can do - but these initiatives are often limited to a single country. Bitcoin is the first global means of payment invented. Let that sink into your head. And let's forget about the bulk of the get-rich-quick coins for a second - They never served a useful purpose for the masses anyway. And to say, over everything else, that you don't believe a crypto is secured because you can lose the password to your wallet - that is the ultimate blasphemy. Because you can already get locked out of your social media and banks if you forget your password and lose your 2FA anyway [in the case of banks they probably ask for your ID or SSN to give you back access. Let's not forget though that Bitcoin is a technology for banking the unbanked who do not have this type of info.] So it's not a question about "why don't we trust the system", it's whether the current global community can afford to trust the system. You'll find that most of them will say no, because then they would have no money! Cash is out of the question, because it can inflate and lose its value over a year [especially in 3rd world countries]. This leaves the only option left to the masses - cryptocurrency. And whosoever comes to this space just to invent a coin to dump it later, then damned be to them. This industry is for REAL users only. And anyone, who thinks, whether by writing a letter, or a legislation, that they can take this free technology away from the people, is mistaken. For crypto is the symbol of total financial freedom. Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: tadamichi on June 02, 2022, 11:38:19 AM According to few popular computer scientists the crypto industry is misleading the public about blockchain technology. K, so lets first check about which issues our „experts“ didnt write letters to officials about in the last years. The list were has 26 computer, Harvard lecturer Bruce Schneier, Microsoft engineer Miguel de Icaza and Google Cloud’s principal engineer Kelsey Hightower were few among them. This team of Computer Scientists have given a letter to the US Officials. These Computer Scientists have given few statements on cryptocurrency and Blockchain technology.
What about your view on these statements? Some examples: „Google is not cooperating with user data requests from Hong Kong authorities“ One year later Quote from: https://www.businessinsider.com/google-gave-user-data-to-hong-kong-authorities-last-year-2021-9 „Google disclosed times it provided user data to Hong Kong authorities, even though it said last year it was going to stop“ „December 2018: Google+ Bug Exposes 52.5 Million Users’ Data“ „March 2018: Google+ Bug Exposes 500,000 Users’ Data“ „November 2016: Gooligan Malware Compromises 1 Million Android Devices“ „September 2015: BrainTest Malware Infects Up to 1 Million Android Devices“ „September 2014: Nearly 5 Million Gmail Passwords Leaked Online“ „June – December 2009: Chinese Hackers Breach Google Servers“ „July 2020: Google Accused of Misleading Millions of Users About Privacy“ „April 2020: Google Faces $5 Billion Lawsuit for Tracking “Private” Browsing“ „September 2019: Google Received $170 Million Fine for Child Data Privacy Breaches“ „August 2018: Google Tracking Location Data on 2 Billion Users, Sometimes Without Permission“ „March 2022: Lapsus$ Group Breaches Microsoft“ „August 2021: Organizations Expose 38 Million Records Due to Power Apps Misconfiguration“ „August 2021: Thousands of Microsoft Azure Customer Accounts and Databases Exposed“ „April 2021: 500 Million LinkedIn Users’ Data Scraped and Sold“ „January 2021: Microsoft Exchange Server Vulnerability Leads to 60,000+ Hacks“ „December 2020: Microsoft and 18,000 Other SolarWinds Customers Targeted with Malicious Update“ „December 2019: Over 250 Million Microsoft Customer Records Exposed“ „April 2019: Compromised Support Agent Credentials Give Hackers Access Webmail Accounts“ „November 2016: Hundreds of Skype Accounts Hacked to Send Spam Messages“ „May 2016: 33 Million Stolen Hotmail Credentials Discovered for Sale Online“ „October 2013: Internal Microsoft Bug Tracking Database Compromised“ „March 2013: 3,000 Xbox Live Users Credentials Exposed“ „June 2012: Malware Disguised as Legitimate Microsoft Update Sent to Hundreds of Computers“ „2011 through 2013: Xbox Underground Repeatedly Hacks Microsoft“ „December 2010: Microsoft BPOS Data Leak Exposes Customer Information to Other BPOS Customers“ „January 2010: Microsoft Internet Explorer Zero-Day Flaw Allows Hackers to Breach Major U.S. Companies“ So i think after this it becomes obvious that we should rely on centralized services for everything, and run bitcoin on one 100$ computer, with a password that can be changed easily, for our own safety. But seriously i agree that altcoins are scams, but i think they will use this as an attack vector on Bitcoin too, since it doesnt seem like they spend much time on understanding the architecture. Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: Pmalek on June 02, 2022, 12:06:57 PM They are talking about crypto in general and unfortunately that also includes Bitcoin. But their conclusions don't apply to Bitcoin. Bitcoin is secure, it is decentralized, and the system that gives access rights to anyone who has the signing keys is as secure as the person storing those keys. The majority of the cryptocurrencies are indeed flawed and unproven or just scams. Again, take Bitcoin out of the equation. If someone doesn't understand what they are investing in, they shouldn't invest in it. The same rules apply to all other financial markets and assets.
Why trust bankers and speculators, really? Maybe because they are responsible for all the biggest financial crises we know of. I also find it funny how a high positioned employee of Google Cloud doesn't like alternative platforms. Life would be so much easier for them if everyone just stored all their data in their Google Clouds for easy monitoring, leaking, and privacy infringement all in the name of national security, fighting terrorism, and money laundering. Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: Gyfts on June 02, 2022, 06:36:22 PM
And whose fault is that? Is it the consumer's fault for choosing alternative assets/currencies, or is it the government's fault for mismanaging fiscal policy so badly that they drive consumers away from the state sponsored currency under the jurisdiction they live in? The banking systems and their incestuous relationship with the government have shown themselves to be flawed and inherently corrupt. The palpable irony of computer scientists referring to crypto as as the unproven financial instruments as if people are so ignorant to the realities of the current centralized system is beyond the pale. I don't take these clowns seriously. Neither should you.[/list] Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: Oshosondy on June 02, 2022, 07:53:50 PM That is true, crypto is not decentralized and the blockchain is not secure as the computer scientists said about it, there are over 19700 cryptocurrencies that are existing now, there are more that should be existing now but become failed, some are existing but if people invested into it, it will become loss for the people. Some coins are just doomed to fail. Some coins are centralized and their price can easily be manipulated. This is true but exception is bitcoin because bitcoin blockchain is secure, it is the strongest, bitcoin is harder to manipulate if compared to many altcoins. Terra Luna is an example of what the computer scientists is talking about which many people even took their lives as they lost their life investment on this coin.
Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: coolcoinz on June 02, 2022, 08:33:33 PM
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Yes, that's the point. The banking system is a scam and the amount of centralized fiat money spent to change it doesn't matter since they can print more and more to fill the gap. Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: hatshepsut93 on June 02, 2022, 09:09:31 PM I agree with them that some regulation is needed. It's not okay that crypto exchanges buy ads and tell people that they can become rich today if they register and start trading crypto (same goes for stocks and forex). Then those people lose their savings in the process, while exchanges can rich regardless of happens with crypto, because they get fees. In a gold rush, sell the shovels. Crypto shouldn't be banned, and government shouldn't interfere with innovation and open source software development, but regulating exchanges more tightly would be a good thing. And right now exchanges are lobbying to keep things as they are - letting them list whatever coin they want, create their own coins, offer extremely high leverage and so on. This doesn't create economic growth, it's just a transfer of money from the masses into the pockets of crypto elite.
Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: TheNineClub on June 02, 2022, 09:26:39 PM According to few popular computer scientists the crypto industry is misleading the public about blockchain technology. The list were has 26 computer, Harvard lecturer Bruce Schneier, Microsoft engineer Miguel de Icaza and Google Cloud’s principal engineer Kelsey Hightower were few among them. This team of Computer Scientists have given a letter to the US Officials. These Computer Scientists have given few statements on cryptocurrency and Blockchain technology.
What about your view on these statements? He does have some fair points, but yeah, we didn't decide that we don't trust the banking system, it has proven to be unraliable time and time again. And correct me if I'm wrong, but didn't the 2008 crisis happen because of speculation from banks? So let's not try anything nee and just trust the unreliable system? He's not making much sense. Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: Questat on June 02, 2022, 10:05:26 PM Actually, they are just few who think that was misleading, let them judge the market way as we do our own judgment as well. Because whatever it happens in the future, we neither blame them, it is just ourselves.
They have some points regarding shitcoins and many fake projects make people suffer losses but the problem is they generalize the market. And as I believe and trust Bitcoin, whatever they say hasn't affected my desire to hold and invest in them. Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: AmoreJaz on June 02, 2022, 10:55:42 PM Actually, they are just few who think that was misleading, let them judge the market way as we do our own judgment as well. Because whatever it happens in the future, we neither blame them, it is just ourselves. They have some points regarding shitcoins and many fake projects make people suffer losses but the problem is they generalize the market. And as I believe and trust Bitcoin, whatever they say hasn't affected my desire to hold and invest in them. it is indeed your own choice when it comes to this industry. experts, computer scientists or whatever they call themselves, they are free to give their opinion on this market. but at the end of the day, it is your own decision what to do with your funds. you can listen, read or follow their thoughts, but that is on you now. we have our own opinion on basically everything. it is up to you where you want to go after gauging your options. Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: Jawhead999 on June 03, 2022, 02:17:27 AM it is indeed your own choice when it comes to this industry. experts, computer scientists or whatever they call themselves, they are free to give their opinion on this market. but at the end of the day, it is your own decision what to do with your funds. you can listen, read or follow their thoughts, but that is on you now. we have our own opinion on basically everything. it is up to you where you want to go after gauging your options. The thing is there are many articles who mislead their readers, including this one. If this article can easily appeared on the first page or even first row, newbies could easily thought all cryptocurrency aren't decentralized and secure because it can easily to brute force or using quantum computing etc. I guess only less people are really know this forum, but it have a good source and discussion about cryptocurrency especially Bitcoin.Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: NotATether on June 03, 2022, 03:15:11 AM I agree with them that some regulation is needed. It's not okay that crypto exchanges buy ads and tell people that they can become rich today if they register and start trading crypto (same goes for stocks and forex). Then those people lose their savings in the process, while exchanges can rich regardless of happens with crypto, because they get fees. For a start, Google and Facebook should ban all ads coming from crypto exchanges, since they have no interest in regulating these types of ads (they're either going to allow all of them or ban all of them). Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: BitcoinPanther on June 03, 2022, 03:40:27 AM Those 26 scientists are too busy with their work (not crypto related) which is why they gave those false claims about cryptocurrency. If they are given ample time to dig in about cryptocurrency, I bet they will change their statement right after they fully understand cryptocurrency and blockchain. But sadly they are contented with the script that authorities handed them to say.
Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: Findingnemo on June 03, 2022, 08:33:41 AM How can we call someone as scientists when they don't even understand the blockchain and how the computer expert turns out to be a financial advisor?
Not everyone who is an expert in tech related thing has to be an blockchain expert which is like when we ask an general doctor who is very popular but he can operate something related to neurology right? Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: Betwrong on June 03, 2022, 09:06:25 AM ~
If you want a centralized server you can have one for $100. The price for decentralization is much higher. So? ~ That's right, the price is higher, but it's fully worth it. Imagine all your life savings put in a bank which works for many years without problems, but one day you wake up and read in the news that today you can buy 5 times less for your money than yesterday, and tomorrow it will be even worse. You go to the bank hoping to withdraw your money and buy gold or something with it, and see a huge line of angry people in front of the closed door. Also, the "$100" argument here is a weak one. Banks spend more than $100 on security, right? Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: Ucy on June 03, 2022, 10:34:41 AM Sounds like statements from politicians instead of scientists.
Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: kryptqnick on June 03, 2022, 11:01:37 AM Good points about security of Bitcoin and decentralization were already made in the thread. I want to add that I think they (the computer scientists whose claims we're discussing) are confusing security and safety. At first there's a claim that blockchain is not secure, and then the example is given about losing a password, concluding that it's not a safe system. Secure means unhackable, and that is the case with blockchain. Whether it is safe from personal perspective and the ability to access the coins in an unfortunate event of losing the keys is another matter. Or, to put it differently, blockchain is secure and ensures the safety of one's coins, but not easy accessibility of coins by a person who lost something essential to access them.
And on the last point, about deciding not to trust the banking system, it's not like there was no good reason for this decision. Banks go bankrupt, often engage in illegal activities, can freeze one's funds and can steal the money without getting back to their customers. And the strongest among them get bailed out for mistakes they're at least partially responsible for at the expense of the most vulnerable people (I'm talking about the 2008 economic crisis). Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: dezoel on June 03, 2022, 03:04:48 PM I agree with them that some regulation is needed. It's not okay that crypto exchanges buy ads and tell people that they can become rich today if they register and start trading crypto (same goes for stocks and forex). Then those people lose their savings in the process, while exchanges can rich regardless of happens with crypto, because they get fees. In a gold rush, sell the shovels. Crypto shouldn't be banned, and government shouldn't interfere with innovation and open source software development, but regulating exchanges more tightly would be a good thing. And right now exchanges are lobbying to keep things as they are - letting them list whatever coin they want, create their own coins, offer extremely high leverage and so on. This doesn't create economic growth, it's just a transfer of money from the masses into the pockets of crypto elite. Cryptocurrency is totally new, and it is the first of its kind to ever be made. It is volatile, and anyone who is getting to know about it for the first time will always doubt it, and they will always think it is something that isn’t legit because of its volatile nature.I believe that majority of us when we got to know about cryptocurrency the first time, we felt this doubt where we couldn’t trust it as to whether to invest our money in it or not. So, it should be a decision you make for yourself, if you feel that the risk is what you can afford to take, you can go ahead and do it, nobody is really forcing you to do it. Moreover, no exchanges are advertising that you are going to get rich from trading cryptocurrency on their platform, majority of them would always state it even on their website that there are risks involved in trading cryptocurrency or any assets at all. So you all have to be careful. Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: Doan9269 on June 03, 2022, 03:27:52 PM These Computer Scientists have given few statements on cryptocurrency and Blockchain technology. what piece of crap are they saying here, do they even realize that blockchain technology is not only applicable for the cryptocurrency use only but rather every aspects of the economy now key into the use of blockchain name it: health and medical line, academics, business, industries and even the government and i will tell you why, this is because one of the characteristics of the distributed ledger of blockchain is immutability, meaning it stores data that cannot be altered, what a unique advantage blockchain present us over the centralized service providers and online storage third party agents like iCloud, drop box etc. here in blockchain technology you got the maximum security needed while being decentralized, i want to believe this statement i wouldn't love to read the contents is coming from the wrong end because in an ordinary manner, computer scientist should be the ones to understand more the whole logic behind blockchain, but nevertheless their ranting has nothing to do affecting the move of bitcoin or the blockchain it works along with. Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: buwaytress on June 03, 2022, 03:39:05 PM I actually agree, depending on how you define "crypto industry", with industry being commercial companies and business people.
I mean, I couldn't agree more with how everyone used to tout decentralised and secure when the blockchains they were/are running are highly centralised, untested security-wise. And yes, a system where you forget your password and lose everything isn't safe. But safety is not security, not sure if these computer scientists forgot the difference. Everything they say is true for most of crypto, but doesn't stand up to Bitcoin. Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: justdimin on June 03, 2022, 04:18:48 PM We all know what this whole big fiasco about Bitcoin is. same old people now using so-called computer scientists to try to discredit Bitcoin so it will look more valid because other people have tried and have failed. It's simple, don't invest in what you don't understand as someone also mentioned earlier but I don't get why you need to convince others to follow you. The part where it says "computer scientists" is the funniest bit. Like if a computer scientist says so, then it must be true! Lol, why would we ignore everyone else, and only care about how bitcoin is "misleading" just because a computer scientist said it, why not a lawyer, or a financial investor, why computer scientist? Just because we are using blockchain?We use laws and money as well but we ignore the other two, what makes anyone think we would give a flying flamingo about a computer scientist. Bitcoin is great, blockchain is great, we are improving every single day and we are going to be much better in the long run, and that’s it. Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: Silberman on June 03, 2022, 04:21:46 PM “We’re essentially wasting millions of dollars worth of equipment because we’ve decided that we don’t trust the banking system.” Of course we do not trust the banking system, those computer scientist know nothing about the economy as it is obvious they are living in another world in which the banking system is reliable and honest with their customers while not being exploitative at all, but for us which live at the real world we can see all the supposed benefits the banking system have brought us and we are not willing to be victimized anymore, so without a doubt the money used on bitcoin is not a waste and if anything is the best investment ever, as it give us something we did not have for centuries, independence from the banks.Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: AakZaki on June 03, 2022, 06:54:17 PM How can we call someone as scientists when they don't even understand the blockchain and how the computer expert turns out to be a financial advisor? Everyone has the right to have a different opinion. But I also know there are people who support and reject crypto. I respect them, because they certainly have their own reasons. But so far I look at crypto, the blockchain industry is a future. Look at today, many countries are worried and giving rise to CBDCs because they are worried about not being able to control and observe the flow of movement of blockchain transactions.~snip~ Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: KingsDen on June 04, 2022, 09:38:06 AM How can we call someone as scientists when they don't even understand the blockchain and how the computer expert turns out to be a financial advisor? Everyone has the right to have a different opinion. But I also know there are people who support and reject crypto. I respect them, because they certainly have their own reasons. But so far I look at crypto, the blockchain industry is a future. Look at today, many countries are worried and giving rise to CBDCs because they are worried about not being able to control and observe the flow of movement of blockchain transactions.~snip~ Meanwhile, computer scientists have been in existence before blockchain, so the knowledge of blockchain shouldn't be a criterion to quality or discredit a scientist. However, my concern is that those criticising and defaming crypto has no indept knowledge of it. They just see through one side of the mirror and conclude what happens the other side. Well, things aren't done that way. Let us be patient, the end has never failed to justify the means. Blockchain will prove them wrong. Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: Findingnemo on June 04, 2022, 10:15:11 AM How can we call someone as scientists when they don't even understand the blockchain and how the computer expert turns out to be a financial advisor? Everyone has the right to have a different opinion. But I also know there are people who support and reject crypto. I respect them, because they certainly have their own reasons. But so far I look at crypto, the blockchain industry is a future. Look at today, many countries are worried and giving rise to CBDCs because they are worried about not being able to control and observe the flow of movement of blockchain transactions.~snip~ Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: Zilon on June 04, 2022, 10:59:15 AM This is a polite way of saying give us back your privacy. If they so claim that "Any system where you forget your password and you lose your life savings is not a safe system." Then what will be said of a system where you can always reset your password but can be logged out of the system anytime or froze your account because they think the have control of your funds. In this era and age i choose to be the main custodian of my key and coin
Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: darkangel11 on June 04, 2022, 04:25:03 PM How can we call someone as scientists when they don't even understand the blockchain and how the computer expert turns out to be a financial advisor? Everyone has the right to have a different opinion. But I also know there are people who support and reject crypto. I respect them, because they certainly have their own reasons. But so far I look at crypto, the blockchain industry is a future. Look at today, many countries are worried and giving rise to CBDCs because they are worried about not being able to control and observe the flow of movement of blockchain transactions.~snip~ They have the right to their opinion but if they gather in groups to go against something that isn't in any way invading their space and trying to make the government fight it, they must be some really angry and frustrated bunch of people. I don't like many things like people driving on quad bikes near my house and people parking so that they block me and make it hard to drive around them, but I don't record them on my phone and go to the police, even though they in a way make my life harder. I understand that people have their own lives and their own problems and sometimes it's just them being stupid. Bitcoin has completely no negative influence on people's lives. It improves them! If you can't stand that it's there and try to fight it, like you'd fight your neighbor because you don't like the color of his car or the size of his dog, you're the asshole. Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: LONGCJ on June 05, 2022, 04:43:31 AM Here is the letter: Quote from: https://concerned.tech/letter-congressional.pdf Dear U.S. Congressional Leadership, Committee Chairs and Ranking Members, We are 26 computer scientists, software engineers, and technologists who have spent decades working in these fields producing innovative and effective products for a variety of applications in database technology, cryptography, open-source software, and financial technology applications. Today, we write to you urging the Committee to take a critical, skeptical approach toward industry claims that crypto-assets (sometimes called cryptocurrencies, crypto tokens, or web3) are an innovative technology that is unreservedly good. We urge you to resist pressure from digital asset industry financiers, lobbyists, and boosters to create a regulatory safe haven for these risky, flawed, and unproven digital financial instruments and to instead take an approach that protects the public interest and ensures technology is deployed in genuine service to the needs of ordinary citizens. We strongly disagree with the narrative—peddled by those with a financial stake in the crypto-asset industry—that these technologies represent a positive financial innovation and are in any way suited to solving the financial problems facing ordinary Americans. Not all innovation is unqualifiedly good; not everything that we can build should be built. The history of technology is full of dead ends, false starts, and wrong turns. Append-only digital ledgers are not a new innovation. They have been known and used since 1980 for rather limited functions. As software engineers and technologists with deep expertise in our fields, we dispute the claims made in recent years about the novelty and potential of blockchain technology. Blockchain technology cannot, and will not, have transaction reversal mechanisms because they are antithetical to its base design. Similarly, most public blockchain-based financial products are a disaster for financial privacy; the exceptions are a handful of emerging privacy-focused blockchain finance alternatives, and these are a gift to money-launderers. Financial technologies that serve the public must always have mechanisms for fraud mitigation and allow a human-in-the-loop to reverse transactions; blockchain permits neither. By its very design, blockchain technology, specifically so-called “public blockchains”, are poorly suited for just about every purpose currently touted as a present or potential source of public benefit. From its inception, this technology has been a solution in search of a problem and has now latched onto concepts such as financial inclusion and data transparency to justify its existence, despite far better solutions already in use. After more than thirteen years of development, it has severe limitations and design flaws that preclude almost all applications that deal with public customer data and regulated financial transactions and are not an improvement on existing non-blockchain solutions. Finally, blockchain technologies facilitate few, if any, real-economy uses. On the other hand, the underlying crypto-assets have been the vehicle for unsound and highly volatile speculative investment schemes that are being actively promoted to retail investors who may be unable to understand their nature and risk. Other significant externalities include threats to national security through money laundering and ransomware attacks, financial stability risks from high price volatility, speculation and susceptibility to run risk, massive climate emissions from the proof-of-work technology utilized by some of the most widely traded crypto-assets, and investor risk from large scale scams and other criminal financial activity. We ask you to take a truly responsible approach to technological innovation and ensure that individuals in the US and elsewhere are not left vulnerable to predatory finance, fraud, and systemic economic risks in the name of technological potential which does not exist. The risks and externalities related to blockchain technologies and crypto-asset investments are neither isolated nor are they the growing pains of a nascent technology. They are the inevitable outcomes of a technology that is not built for purpose and will remain forever unsuitable as a foundation for large-scale economic activity. Given these risks and externalities, together with the—at best still-ambiguous and at worst non-existent—uses of blockchain, we recommend that the Committee look beyond the hype and bluster of the crypto industry and understand not only its inherent flaws and extraordinary defects but also the litany of technological fallacies it is built upon. We need to act now to protect investors and the global financial marketplace from the severe risks posed by crypto-assets and must not be distracted by technical obfuscations which mask an abject lack of technological utility. We thank you for your leadership on financial technology and regulation and urge you to consider our objective and independent expert judgments to guide your legislative priorities, which we remain happy to discuss anytime. WHAT IS MOENY Since Li Ka-shing, Li Yanhong, And Zuckerberg chose to enter the metasurverse, and the metasurverse came into people's view, I don't know if they know what the metasurverse is. You might think that with all their success, there would be no problem. The fact that they have made achievements in the past does not indicate that they have a great understanding of the new field. The meta-universe has six blocks, and its most important and basic economic system is blockchain technology. What is blockchain technology? Most of them don't, they don't know the basic logic of blockchain technology that we're talking about, they don't know the re-Walth that we're talking about recently. We do not know the basic consensus trust problem, however, we are also in practice to block chain landing applications, to solve the problem of hashing. For the most basic blockchain technology, I have mastered the code that makes up it, the data, and the direction of its extension The development of blockchain to the present, but also extended many modes, chain games, decentralized exchanges, metaverse, and so on. There are some true and some false, but we all remember satoshi nakamoto's words, if you don't trust me, I will have no time to explain to you, so BTC to build blockchain technology is the essence of everything At a time of cholera, when communication is difficult and flights are suspended, we can assume that if conflicts in the world intensify, leading to local wars and even affecting the whole world, in today's globalization, it will have a far-reaching impact. To return to the essence of everything, the first thing for human beings is survival, coordinated development of group society, cooperation and consensus. If the social order breaks down, how can that person survive independently, and it is difficult for individuals to return to the age that has been adapted to the industrialization, we return to our roots, to make people cooperate again, which undoubtedly needs to solve the problem of people's trust Trust is fundamentally about consensus. In the 19th century, the West had established the gold standard system, and the Bretton Woods system of the United States also broke away from the link with gold. The US dollar became the circulating currency of the world, but it did not constitute credit. Dollar hegemony. Hayek proposed a world free economy, avoiding the economic intervention of power in the world, and it was not until 2009 that blockchain saw the dawn of the economy into a decentralized, restricted, verifiable, by a series of mathematical logic codes constitute the basic trust Today, the world is diversified and contradictory. It not only has the gold standard in the past, but also the currency standard, the US dollar and the RMB. Economy, culture and civilization all have unique systems. There are 7.6 billion people in the world, and interpersonal links are structured, social order is stable, and individuals are connecting with the world society Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: Cling18 on June 05, 2022, 05:22:26 AM I actually agree, depending on how you define "crypto industry", with industry being commercial companies and business people. I mean, I couldn't agree more with how everyone used to tout decentralised and secure when the blockchains they were/are running are highly centralised, untested security-wise. And yes, a system where you forget your password and lose everything isn't safe. But safety is not security, not sure if these computer scientists forgot the difference. Everything they say is true for most of crypto, but doesn't stand up to Bitcoin. Even banks are unsafe and I'm sure thar those computer scientists are aware of that. Keeping and losing our passwords and seed phrase is our personal responsibility. Even bank ATMs has their pin that we also have to keep. We all have different perspectives about blockchain technology but as long as we're comfortable using it, I don't think we have to fear it because of their opinions. Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: buwaytress on June 05, 2022, 08:34:21 PM Even banks are unsafe and I'm sure thar those computer scientists are aware of that. Keeping and losing our passwords and seed phrase is our personal responsibility. Even bank ATMs has their pin that we also have to keep. We all have different perspectives about blockchain technology but as long as we're comfortable using it, I don't think we have to fear it because of their opinions. Banks themselves could be unsafe, but I do get that it's safer for most people. I know people who can't remember their passwords all the time, people who use 1234 as passwords, who write it down everywhere... Bitcoin self custody is not for them. They need banks and companies who'll help them recover passwords. You can lose your ATM pin and call a hotline and get a replacement card the next hour. Also, most banks to have deposit guarantee schemes that will give the user back his deposit if the bank fails. I know it hasn't worked in many countries, but I've also seen it work in my own country in the late 1990s when we lost 80% of the banks we had, the state made sure everyone was whole. Don't get me wrong, I think Bitcoin benefits far outweigh its cons. But I'm not going to drone on about the misleading gospels that the numerous crypto evangelists spread. Those scientists have a valid point, even if they're wrong to paint the entire "crypto industry" as such. Title: Re: Computer Scientists say Crypto Industry is Misleading??? Post by: Silberman on June 05, 2022, 08:41:52 PM How can we call someone as scientists when they don't even understand the blockchain and how the computer expert turns out to be a financial advisor? Everyone has the right to have a different opinion. But I also know there are people who support and reject crypto. I respect them, because they certainly have their own reasons. But so far I look at crypto, the blockchain industry is a future. Look at today, many countries are worried and giving rise to CBDCs because they are worried about not being able to control and observe the flow of movement of blockchain transactions.~snip~ |