Comment on A secret Google deal let Spotify completely bypass Android’s app store fees

• Uncle_Bagel@midwest.social ⁨11⁩ ⁨months⁩ ago

  Cryptocurrency is the number one vector for scams and money laundering today despite blockchains.

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  • Squizzy@lemmy.world ⁨11⁩ ⁨months⁩ ago

    I’m not cryptobro but I hate that people give out about it’s use in crimes… it’s a currency, it being used in crimes is only evidence of it being used as a currency. All my drugs are bought with euros.

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  • 520@kbin.social ⁨11⁩ ⁨months⁩ ago

    That's because transactions can't be rolled back, opening accounts doesn't require identifying info, and there's no possibility of payments being intercepted by a third party.

    Sure, fiat can be safer when your bank is being responsible. It can be much more dangerous when they aren't. Just ask a victim of Wells Fargo.

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• ramble81@lemm.ee ⁨11⁩ ⁨months⁩ ago

  Okay. I’ll answer seriously to this. Blockchain can’t store an entire contract (not within reason). Likewise, contracts will never be made public. So at most you’ll get is a pointer to where the contract is held. The contents of the contract can be changed (though you could put a checksum in the chain too), but that still doesn’t address things. Also if you are concerned about “well no one else has a contract” then all that needs to happen is everyone gets a contract, then the chain is inundated with contracts and all you’d have is a pointer and a checksum and you have no idea what’s in the actual contract.

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  • loke@fedia.io ⁨11⁩ ⁨months⁩ ago

    Not only that. Backroom deals without public documentation has been done since the beginning of humanity.

    Even if blockchains were widely used, these things would happen outside the blockhain and no one would be the wiser.

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  • isles@lemmy.world ⁨11⁩ ⁨months⁩ ago

    Blockchain can’t store an entire contract (not within reason).

    What do you mean by this? I don’t work directly with blockchain, but it appears Eth has a 12MB block limit, which is 4,800 pages of simple text.

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    • ozymandias117@lemmy.world ⁨11⁩ ⁨months⁩ ago

      A block isn’t a single transaction. It’s way too inefficient to scale that way

      A block is a group of transactions

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      • isles@lemmy.world ⁨11⁩ ⁨months⁩ ago

        Sure, that makes sense, so it looks like each contract could only be 20 pages of text, at least per transaction.

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• Neato@kbin.social ⁨11⁩ ⁨months⁩ ago

  Blockchain has no viable uses. Append only databases already exist. Distributed databases already exists. It's all a scam.

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