Rethinking Cryptocurrency as a Technology

1. 2022-07-03 at 12:53 PM UTC

   #1
   

   Ghost Black Hole
   Imagine a password that cannot be changed.
   
   
   
   Now imagine if this password was public, everyone can see it and connect to the account. Nobody can own it or change the password and everything associated with that account is open to everyone forever.
   
   What are the implications of this? This is something that doesn't really exist in any form anywhere else. You could say the INTERNET is the ultimate open freedom but your ISP and servers can block IP addresses and it's all very centralized. In practice though it is OPEN AND FREE
   
   p2p is the only thing I can think of that's similar technologically. But anyways, my point is that this is a very emergent and underdeveloped path for this technology and I think it's interesting to consider
   
   something similar: a runescape youtuber made an account than anyone can access and because of Jagex's retarded systems it was impossible for anyone to actually take full control of the account, and it kept getting unbanned for some reason because the admins are retards.
   
   
   
   With a cryptocurrency wallet anything that ever landed in it would probably get auto siphoned by a bot to another private wallet (which is what happened on the runescape thing) but I think it's still interesting to consider.
   
   
2. 2022-07-03 at 1:05 PM UTC

   #2
   

   Bradley Florida Man
   wow what an original idea a canadian factory worker came up with on a sunday morning that no one has ever considered while rethinking global currency!!!
3. 2022-07-03 at 1:34 PM UTC

   #3
   

   Ghost Black Hole

   Originally posted by Bradley wow what an original idea a canadian factory worker came up with on a sunday morning that no one has ever considered while rethinking global currency!!!

   
   maybe you are just too poor to understand it
4. 2022-07-03 at 3:10 PM UTC

   #4
   

   vindicktive vinny Black Hole
   technology to facilitate a global ponzi scheme.
5. 2022-07-03 at 3:11 PM UTC

   #5
   

   vindicktive vinny Black Hole
   something with its own intrisic value can not be manipulated and / or speculated.
6. 2022-07-03 at 7:42 PM UTC

   #6
   

   Ghost Black Hole

   Originally posted by vindicktive vinny something with its own intrisic value can not be manipulated and / or speculated.

   
   says you
7. 2022-07-06 at 4:23 PM UTC

   #7
   

   vindicktive vinny Black Hole

   Originally posted by Ghost says you

   
   i am
8. 2022-07-16 at 9:08 PM UTC

   #8
   

   Ghost Black Hole
   A public key crypto wallet that everyone on earth has access to and could load up in a wallet explorer would be quickly taken over by bots and bad actors
   
   But it's interesting to consider if these could be defeated and what uses this could have if it was free from such activities
   
   Maybe a block on withdrawals built into the wallet that nobody can change, but that would reduce its ability to interact if it can't send and receive.
   
   Or maybe the funds in that wallet could be used and voted on by people that contribute into something but that would also be retarded and pointless probably
9. 2022-07-17 at 3:32 AM UTC

   #9
   

   Speedy Parker Black Hole
   Just like this retarded and pointless thread and OP
10. 2022-08-27 at 9:18 PM UTC

    #10
    

    Sophie Pedophile Tech Support
    Public/Private key pairs. You get a set one public key one private key. Read about key pairs. Also a website is open, but the point is that only the operator has full access to read and to write to their website.
    
    It's fundamentals, but you need to understand them.
    The following users say it would be alright if the author of this post didn't die in a fire!

    • aldra
11. 2022-08-28 at 1:51 PM UTC

    #11
    

    Speedy Parker Black Hole
    I understand them and have never needed that knowledge
12. 2022-08-28 at 2:16 PM UTC

    #12
    

    Ghost Black Hole

    Originally posted by Sophie Public/Private key pairs. You get a set one public key one private key. Read about key pairs. Also a website is open, but the point is that only the operator has full access to read and to write to their website.
    
    It's fundamentals, but you need to understand them.

    
    what if you made the seed phrase, the private key PUBLIC by just posting it. What then? Anyone could restore the wallet. I have never heard of this being done before
13. 2022-08-28 at 2:19 PM UTC

    #13
    

    aldra JIDF Controlled Opposition

    Originally posted by Ghost what if you made the seed phrase, the private key PUBLIC by just posting it. What then? Anyone could restore the wallet. I have never heard of this being done before

    
    the same thing that happens if you post your private encryption key, anyone who has it can potentially decrypt your shit or impersonate you
    
    that's why it needs to be kept private
14. 2022-08-28 at 2:25 PM UTC

    #14
    

    Ghost Black Hole
    whats if for a crypto wallet you set up specifically for the purpose of making it so anyone has access to it, how would that harm you at all? it's essentially an anonymous public owned wallet at that point that nobody/everyone can say is theirs
    
    I don't even know what happens if you try to restore a wallet on 4 devices at the same time. My guess is you can restore it to an infinite amount of devices but I can't find any info about this anywhere because it's pretty pointless and random