• kameecoding@lemmy.world
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          8 months ago

          They mean nothing in the sense its nothing you cant do with DBs, so like I said, big words that mean nothing

          • Knock_Knock_Lemmy_In@lemmy.world
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            8 months ago

            Cryptography - means that only you can make changes. No database administrator. No hacker. No-one but you.

            Limited actions - means the changes you make must follow rules that cannot be altered by anyone.

            Both impossible to implement on a normal DB, which is why bitcoin was revolutionary.

            • kameecoding@lemmy.world
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              8 months ago
              1. thats not what cryptography means, and is a huge fucking downside especially for banking which us centrally controlled

              2. It’s called triggers, user roles etc, once again you dont want this to be unalterabale for banking because what if regulations change…

              Only thing bitcoin revolutionized was the speed with which scammers can dupe people out of their money.

              • Knock_Knock_Lemmy_In@lemmy.world
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                8 months ago

                thats not what cryptography means,

                You didn’t even know what “those big words” meant a second ago.

                downside especially for banking which is centrally controlled

                Banking doesn’t need to be centrally controlled. It only has been for the past few hundred years.

                1. It’s called triggers, user roles etc,

                Why pay and trust a 3rd party control those?

                what if regulations change…

                You update the smart contracts

                The only thing bitcoin revolutionized was the speed with which scammers can dupe people out of their money.

                Almost true. Scams are not the only thing revolutionized.

                • kameecoding@lemmy.world
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                  8 months ago

                  Dude, my name literally contains “coding” you made the assumption I didn’t understand it…

                  Yeah banking needs to be controlled because what if something goes wrong, you can’t be this dense, stolen credit cards, stolen identity wring transaction, what if the validators disagree what is the truth ala bitcoin split?

                  Blockchain is woefully inadequate to manage finances…

                  • Knock_Knock_Lemmy_In@lemmy.world
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                    8 months ago

                    you made the assumption I didn’t understand it…

                    No. You admitted those words mean nothing to you.

                    what if something goes wrong

                    You plan for each eventually and ensure all responsibilities are understood.

                    stolen credit cards, stolen identity wring transaction,

                    Multisignature, limit controlled wallets

                    what if the validators disagree what is the truth ala bitcoin split?

                    Wait for a few blocks before assuming your transaction is confirmed. Don’t be dishonest during a fork event.

                    Blockchain is woefully inadequate to manage finances…

                    The general public is woefully uneducated and unsupported for blockchain managed finances, but the technology is fine.

              • theneverfox@pawb.social
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                8 months ago

                They were saying what it meant in this context

                Meaning, in a DB, the admin could change roles and modify anything.

                Database triggers can have bugs, and we generally don’t let third parties log into the database directly because it’s a huge attack surface

                In blockchain, without a key you’re cryptographically locked out. The only way around that is if the network as a whole changes their code to a version that allows something like that

                It’s just a ledger where every entry is signed by a private key. That’s a fantastic structure for certain specific use cases…