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/biz/ - Business & Finance

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12970510 No.12970510 [Reply] [Original]

sirgay: and the reason people don't see it is because when you talk to them about trustlessness it's not a concept right they don't have this concept of guaranteed outcomes but the people in this room and the people on 4chanbiz they've got that concept they've got very excited because it makes a ton of sense right what type of contract would I want a contract with a guaranteed outcome or a contract with an outcome where somebody might just screw me over any minute right so if that property if that unique property is valuable then the question becomes how do we retain that unique property while we expand what a smart contract can do while we expand out into things other than tokens right because you know the cryptographic signatures they are reliable and so on and the answer there is well the only answer that I can currently see is how have people done that for the contracts for the state they've done it through decentralization which essentially is just large redundancy on the basis of a cryptographic protocol and so that's what they do right that's what provides this unique guarantee so I think that if that unique guarantee has value then people will try to extend it to all parts of the system as long as the costs are manageable and as long as they can do that right so that means that if I have a contract that's deterministic that doesn't have error handling doesn't have fallback scenarios and you know once it's triggered it's triggered in my budget I'm gonna pay more to make sure it's triggered correctly which means I'm gonna pay for multiple people to verify maybe I pay for multiple data sources because I value this unique property and I want to maintain it throughout the end-to-end operation of my agreement I mean that's my that's my fundamental assumption
Bertani: yeah I think those insights were interesting

>> No.12970723
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there's too much text.
should I buy more or sell?

>> No.12970778
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Literally the only thing he has done these past years is talk at conferences and he is horrible at talking in public or conveying ideas.