Comment Comment by virtualritz >> encryption has many, many actually useful and productive applications> So does crypto [...]I'd wager that this is a lie. Please name one.These systems are self referential. Great if all to do is speculate with value changes inside the system.Other use cases? In short: no one has come up with any solution to the oracle problem.As soon as you want to exchange anything crypto with anything but crypto (e.g. USD or a physical asset like a loaf of bread) you need trust.[1][1] https://youtu.be/MiLnDe_bX6Y parent virtualritz 4 years ago
> So does crypto [...]
I'd wager that this is a lie. Please name one.
These systems are self referential. Great if all to do is speculate with value changes inside the system.
Other use cases? In short: no one has come up with any solution to the oracle problem.
As soon as you want to exchange anything crypto with anything but crypto (e.g. USD or a physical asset like a loaf of bread) you need trust.[1]
[1] https://youtu.be/MiLnDe_bX6Y