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That's an impossible scenario. There's loads of different links to the USA and even if that happened, we'd have far bigger issues to worry about, such as fuel pumps not working.
We have proxy smart contracts and versioning systems for that reason.
Let's take for example Uniswap.
We started on v1 and now we are on v3.
There are hardcoded smart contracts that are public facing ... but if we lift up the bonnet, there are proxy contracts underneath, as the public smart contract simply has a varible that can be changed to point to other smart contracts.
We upgrade major versions, when the major versions would need to take in new variables from the public.
So getting back to Uniswap, Uniswap v1 and v2 still exist, can always be used but have less liquidity as the public move on to using v3 which is promoted more heavily.
That's how socieity moves on and adapts in the crypto world.
I have crypto bonds earning me yield that utilize Uniswap v2 that expire sometime in 2025, but if I wanted to exchange crypto today, I would use Uniswap v3.
That's not an argument.
That's not an argument.
There’s no argument to be made. You’ve asserted some utterly naive ideology. What else can I say that I’ve not already said?
If I had to boil the misunderstanding down to a single, pithy (as possible) phrase, it would be this:
Power is not a manifestation and expression of money. That puts the cart before the horse. Instead, money is a manifestation and expression of power. Power derives from the real-world ability to affect the actions of others. Money is merely the abstracted symbol of that power.
Power is not a manifestation and expression of money. That puts the cart before the horse. Instead, money is a manifestation and expression of power. Power derives from the real-world ability to affect the actions of others. Money is merely the abstracted symbol of that power.
Storm Fox
Trying the find the next noun to verb
There are not that many links, and depending on the size of the event, all of them could be knocked out, causing forks and all sorts of problems that would be a lot less with traditional banking systems. People would talk to each other, and the issues would be resolved a lot more quickly.
BIB, so Cypto this immutable, indestructible isn't actually indestructible on a global scale and aren't anything to worry about in the grand scheme of things, like using it to pay for fuel once the Electricity Grid is up and running again. Hopefully, the Grid operators will preemptively shut down for the duration of the event. Once the grid is back up, good old cash will work while those fancy digital beads will be unusable.
Here's a map of the number of cables Submarine Cable Map
You'd be waiting a long time because the people who need to get the electricity grid up and running would have no fuel because of the fuel pump issue.
If the sun were to fry an area of the planet, there would be no crypto business done in that area....when each node comes back online, it syncs with nodes that are in places that weren't fried...so I don't see how that puts crypto at a disadvantage, as all of that is automatic.
With a centralised system, you have to hope that there is a backup in an area of the planet that wasn't fried, then a team of experts would need to co-ordingate recovery, so that everything is in sync.
It is a fact that people are sovereign and no amount of bombs will change that.
We have Starlink. I hope the mobile phone manufacturers come up with decentralised comms (Ways of routing calls between mobiles using little or no masts).
But you want more centralisation because an autocratic dictratorship running our lives makes you moist between the legs.
Storm Fox
Trying the find the next noun to verb
You seem to lack understanding of what effects a large coronal mass ejection can cause.
The effects are on satellites are through high energy particles and for LEO satellites like Starlink in increased drag from an expanded Earth's atmosphere. Then the effects on cables that run for long distances. e.g. High Voltage power grids and power cables to power fibre optic repeaters for sub-sea cables are through induced currents.
While unlikely, the UK National Grid has multiple layers of redundancy and restart plans. But this is another advantage of the centralised system. I'd bet good money that the USA grid would be a lot worse off.
While I expect banks and other centralised systems to have, disaster recovery scenarios worked out for this. Crytpo being decentralised by design won't and while most datacenters will keep running through diesel generators and will ride out the storm and the loss of transatlantic internet. Crypto by what q_w_e_r_t_y stated, will become totally forked.
Solar storms can destroy satellites with ease — a space weather expert explains the science
When space weather reaches Earth, it triggers many complicated processes that can cause a lot of trouble for anything in orbit.
Sky's COBRA series. A (solar) storm in a teacup or genuine possibility? | National Grid Group
National Grid ESO’s resident space weather expert Andrew Richards explains the reality of the threats posed to the UK’s electricity system from solar storms and what we do to minimise the risks.
Hahahahaa I see what you did there - totally forked ... catchy as it sounds, it won't happen.You seem to lack understanding of what effects a large coronal mass ejection can cause.
The effects are on satellites are through high energy particles and for LEO satellites like Starlink in increased drag from an expanded Earth's atmosphere. Then the effects on cables that run for long distances. e.g. High Voltage power grids and power cables to power fibre optic repeaters for sub-sea cables are through induced currents.
While unlikely, the UK National Grid has multiple layers of redundancy and restart plans. But this is another advantage of the centralised system. I'd bet good money that the USA grid would be a lot worse off.
While I expect banks and other centralised systems to have, disaster recovery scenarios worked out for this. Crytpo being decentralised by design won't and while most datacenters will keep running through diesel generators and will ride out the storm and the loss of transatlantic internet. Crypto by what q_w_e_r_t_y stated, will become totally forked.
Solar storms can destroy satellites with ease — a space weather expert explains the science
When space weather reaches Earth, it triggers many complicated processes that can cause a lot of trouble for anything in orbit.www.space.com
Sky's COBRA series. A (solar) storm in a teacup or genuine possibility? | National Grid Group
National Grid ESO’s resident space weather expert Andrew Richards explains the reality of the threats posed to the UK’s electricity system from solar storms and what we do to minimise the risks.www.nationalgrid.com
You keep imagining a scenario that would somehow screw up crypto but not everything centralised.
A weird scenario in your imagination that would affect the network infrastructure in one place, but not the decentralised nodes - that's practically impossible.
My point being is that if the network infrastructure in one area has been knocked out, then so have the cryppcurrency nodes. No cryptocurrency nodes, no transactions, no transactions, no fork.
It’s an assertion about power, not a “fact”. And as an assertion, it needs some pretty thorough analysis to back it up
It doesn't need violence to back it up.
You haven't enough guns and bullets to stop crypto.
Storm Fox
Trying the find the next noun to verb
But if the undersea cables are knocked out, then there will be two sets of nodes, one set in the USA and one set in Europe. That's not including Australia, New Zealand and other islands. Where they could become isolated from the internet but carry on with local (To the landmass) internet infrastructure, that is how the internet was initially designed.
So what you and qwerty are saying is that Crypto only works if the internet is working globally; otherwise, it forks by design. That seems like a pretty big weakness for something you want the world to rely on.
It is an unlikely scenario. but if mass adoption were to occur then the risk vs the disruption caused would increase dramatically. But I don't think one part of the internet is so unlikely across a period of decades, through natural disasters or malign forces breaking parts of the internet intentionally.
Storm Fox
Trying the find the next noun to verb
Changing the subject a bit, Dan Olsen of Folding Ideas has taken a look at Decentraland and how bad it is. In the video there is a section on Governance which is pretty relevant across a wide range of Web3 projects. The link starts at that chapter in the Video.
Caution contains levels of cringe that only Web3 tech fetishists can produce.
Caution contains levels of cringe that only Web3 tech fetishists can produce.
I could go to the Apple or Google play store and show you some horrific apps.
Does that make those smart phones useless?
Honestly, the list of uses for open public ledgers, smart contracts and DAPSS are absolutely endless.
I can't comment on anything like decentraland because you know what? I can't be into everything and I just don't have the time for virtual realities, secondlife type worlds etc. I'm lucky if I find the time to switch on the XBOX for more than a couple of hours a week.
NoXion
Craicy the Squirrel
Oh yes it does. Think about what sovereignty actually means. Think about all those pathetic wankers who try to use weasel words to get out of their civic responsibilities by calling themselves sovereign citizens, and further recall how they always end up getting their legal shit pushed in sooner or later.
Crypto doesn't need to be killed with guns and bullets. It's proven effective enough in sabotaging its own prospects.
Doesn't negate my defence of crypto, Ethereum in particular.
Sovereign citizens is a different thing altogether than the concept of citizens ultimately being sovereign.
If it were true that crypto is effective at sabotaging it's own prospects, you wouldn't be investing any time into the subject. But you do, because you're awfully scared that normal people will be impowered by it.
To you, there is nothing more offensive than working class folk having a chance. You want the old world, where old money gets first dibs on investments, while non accreddited investors have to wait.
Fuck that, we can do what we want, we can say what we want and you authatrons can't do anything about it.
If the cables were cut between the US and Europe, the internet would just run slower globally and so would the blockchains ... the good ones at least!
mojo pixy
שיר חדש
Cryptoloon translator daemon said:you mean sovereign citizens but I mean citizens who are sovereign. Totally different!! Also, I argue like a toddler
NoXion
Craicy the Squirrel
Crypto bros and sovcits are committing the same kind of mistake. If citizens are to truly be sovereign, then neither cargo cult legalism nor libertarian fantasies are going to cut it. Socioeconomic power should be distributed democratically, rather than according to who can amass the largest quantity of bullshit tokens, whether they be fiat or crypto.
I have an interest in a number of follies, but I can honestly say that I've put far more hours into flying a spaceship in a video game than I have arguing the toss with crypto believers. Your pathetic bawling about how authoritarian I supposedly am is a display of ignorance that only serves to make you look childish.
But you are authoratarian!
For example, is this a scenario you would be happy with:
1. The Bank of England issues a centralised CBDC that can't be programmed by anyone else other than those who hold it (Example, pay the rent every Friday).
AND
2. It issues a pound token for use on public ledgers such as Ethereum.
Would you be happy with that scenario?
NoXion
Craicy the Squirrel
Sez you, and you don't know me from Adam.
Well, my first reaction is one of indifference. Why should I give a shit either way? Cash and private bank deposits aren't going anywhere, especially if the Bank of England were to start acting fucky with the ability of legitimate businesses and the general public to spend their digital pounds as they see fit. I can see some people having use for a truly digital currency issued directly by the Bank of England, but I don't count myself among them. Cash and a debit card with the option of contactless payments are proving to be sufficiently effective and reliable solutions to the question of how I spend my beer tokens.
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