Jerry Mathers
Was it me?
that wasting resources to create something gives it value.
AI bubble burst
- Thread starter goat
- Start date
Into the Night
Contributor
So you can't name one, eh?
Stablecoin is not a blockchain currency.
YOU were talking about blockchain currencies being a 'sham'. What is the sham?
Jerry Mathers
Was it me?
can blockchain verifier programs ever be a scam?
“A blockchain currency is not a scam.”
Well, that settles it. Apparently putting a scam on a blockchain causes the fraud to evaporate.
That is like saying an email cannot be fraudulent because email is a legitimate technology.
And when the “blockchain currency” is a stablecoin pegged directly to the dollar, it is essentially fiat with extra technical steps—plus an issuer you must trust to possess the reserves it claims to have.
You sound less like someone who understands blockchain and more like someone repeating promotional slogans from the brochure.
Well, that settles it. Apparently putting a scam on a blockchain causes the fraud to evaporate.
That is like saying an email cannot be fraudulent because email is a legitimate technology.
And when the “blockchain currency” is a stablecoin pegged directly to the dollar, it is essentially fiat with extra technical steps—plus an issuer you must trust to possess the reserves it claims to have.
You sound less like someone who understands blockchain and more like someone repeating promotional slogans from the brochure.
The sham is claiming that putting a currency on a blockchain makes fraud impossible.
A token can be pre-mined, hyped, dumped, and abandoned. The blockchain does not prevent the scam; it merely records it.
And stablecoins definitely run on blockchains. Being pegged to fiat does not make that technology disappear.
A token can be pre-mined, hyped, dumped, and abandoned. The blockchain does not prevent the scam; it merely records it.
And stablecoins definitely run on blockchains. Being pegged to fiat does not make that technology disappear.
Into the Night
Contributor
No such thing.
Jerry Mathers
Was it me?
right.
people examine the blockchain by printing out the zeros and ones of the file and reading it themselves.
Into the Night
Contributor
What fraud?
Email is not a blockchain. False equivalence fallacy.
Stablecoin is not a blockchain currency. It is not pegged on anything but the blockchain itself.
Blockchain currency is not a reserve currency.
Inversion fallacy.
Into the Night
Contributor
What fraud?
A token cannot be pre-mined.
Hype makes no difference.
A token cannot be abandoned, but it can be permanently lost, as I've already described.
What scam?
Stablecoin is not a blockchain currency. It is not a technology. It is a basket currency (fiat) that is issued by the Bank of New York. It claims to be more stable than the dollar. It's sort of like those gift cards, but this one is issued by a bank.
Last edited:
Into the Night
Contributor
Most people use hex notation, but yes...you can examine the blockchain that way.
Into the Night
Contributor
Why would AI be more dangerous than nukes?
Hey, poser—here is the technical documentation showing exactly how a token’s fixed supply can be minted and allocated at creation.
“Pre-minted” is the more precise term, but your claim that a token cannot be created in advance is still dead wrong.
Read it and weep:
https://docs.openzeppelin.com/contracts-cairo/2.x/guides/erc20-supply
“Pre-minted” is the more precise term, but your claim that a token cannot be created in advance is still dead wrong.
Read it and weep:
https://docs.openzeppelin.com/contracts-cairo/2.x/guides/erc20-supply
Jerry Mathers
Was it me?
Into the Night
Contributor
Starknet is not a blockchain currency. It only uses blockchain for trading. There is no Starknet 'coin'. It has no blockchain algorithm, just a blockchain to conduct a transaction. It is an attempt to scale Etherium.
Etherium is a blockchain currency.
It is not possible to 'pre-mint' a 'coin'.
You still don't understand what a blockchain currency is.
BitCoin is a blockchain currency. It also uses blockchain to conduct transactions. The blockchain algorithm of BitCoin is a SHA256 hash with at least 19 leading zeros. This places an inherent limit on the number of 'coins' that can be discovered (known as 'puzzles').
Etherium uses a truncated (modulated) SHA-3 hash for it's blockchain, again creating a limit on the number of 'coins' discoverable.
The source you linked to does not discuss either hash algorithm defining the blockchain. It shows code to create a 'supply' of Starknet linkages (wallets). It does not create a 'coin' or define any blockchain currency at all.
But this reiterates my problem with blockchain currencies. People like you don't understand them, so they will never come into general use.
BitCoin is currently facing another problem...the length of the blockchain, which gets longer and longer with each transaction. There is currently no way to scale it. It's like the old days of the 'host' files before DNS, but there is no DNS for BitCoin or any other blockchain currency.
Starknet is trying to become one, but it won't work. It only adds another layer of transactions an a blockchain that already lengthens with each transaction. Etherium is not as popular, so it's blockchain isn't a big problem yet, but it suffers from the same inherent non-scalability as BitCoin does.
Into the Night
Contributor
No. No blockchain currency will get mass general acceptance. To reiterate:
* Technical no-how to even begin to use it.
* Problems with lost passwords to wallets or destroyed wallet files.
* Computer required to conduct transactions.
* Internet required to conduct a transaction.
* Inability to scale the blockchain effectively (so far).
"Starknet is not a blockchain currency. It only uses blockchain for trading."
That is just wordplay. STRK is Starknet’s native token. It pays network transaction fees, is used for staking and network security, and participates in governance—not “only trading.” Starknet’s own documentation says so.
At this point, you are not defining “blockchain currency.” You are simply excluding every example that makes your claim look foolish.
according to your retardism, dollars are not currency either. They are just paper and database entries used for trading.
That is just wordplay. STRK is Starknet’s native token. It pays network transaction fees, is used for staking and network security, and participates in governance—not “only trading.” Starknet’s own documentation says so.
At this point, you are not defining “blockchain currency.” You are simply excluding every example that makes your claim look foolish.
according to your retardism, dollars are not currency either. They are just paper and database entries used for trading.
Jerry Mathers
Was it me?
gibberish and stupidity.
Jerry Mathers
Was it me?
is there any limit on how far a bitcoin can be divided?