Cryptocurrencies are a scam

[scooter]

I never said anything else was safe or that fiat was utopic. Rather that crypto isn’t a cure for that.

We can definitely agree on that.

[[Dimetrodon]]

Btw, I've been curious to know, how do cryptocurrencies generate real money? That bit is a little puzzling for me here.

They don't. They get more expensive due to increasing hype and demand, and it gives people the ability to sell them for real money. Like all other speculative investments, it involves money manipulation as opposed to creating something valuable.

[[Dimetrodon]]

Btw, I've been curious to know, how do cryptocurrencies generate real money? That bit is a little puzzling for me here.

They don't. They get more expensive due to increasing hype and demand, and it gives people the ability to sell them for real money. Like all other speculative investments, it involves money manipulation as opposed to creating something valuable.

So, it's kinda like the stock market?

Yes, only with less regulations. Pump and dumps are illegal when selling stocks, but the same does not apply to NFTs and Crypto. Meaning some scams may be totally legal despite the damage they cause, and it's bad enough how many stock regulations were gutted.

[[Dimetrodon]]

So, it's kinda like the stock market?

Yes, only with less regulations. Pump and dumps are illegal when selling stocks, but the same does not apply to NFTs and Crypto. Meaning some scams may be totally legal despite the damage they cause, and it's bad enough how many stock regulations were gutted.

I'm afraid I don't understand, can you explain what are NFTs and Pump and dumps please? Thanks.

Pump and dumps are when someone artificially increases the value of something and then sells off their supply of it, then dumps it back to its real price.

https://www.investopedia.com/terms/p/pumpanddump.asp

NFTs are very similar to crypto, but cannot be used as a currency, but more of a unique representation of an item or service.

[scooter]

I'm afraid I don't understand, can you explain what are NFTs and Pump and dumps please? Thanks.

Pump and dumps are when someone artificially increases the value of something and then sells off their supply of it, then dumps it back to its real price.

https://www.investopedia.com/terms/p/pumpanddump.asp

NFTs are very similar to crypto, but cannot be used as a currency, but more of a unique representation of an item or service.

The Verge has an online article explaining NFTs.

[WolfofWords]

[[Dimetrodon]]

[WolfofWords]

[[Dimetrodon]]

phpBB Limited needs the power of the blockchain apparently. This terrible idea was posted in 2020 and it reads that they want threads/topics on phpBB to be stored in a blockchain style database. My guess: To allow topics and posts to be minted as NFTs.

Hi.

I propose two ideas aimed at giving full support to the content of the forums in terms of guaranteeing content over time.

It is about guaranteeing that the contents took place on a certain day / hour (moment), and that they have not been altered since a certain moment.

For this, two sources of support:


1) That the time stamping of the messages comes from a TSA (Time Stamping Authority). A TSA With API I suppose better. And the TSA guarantee must be visible.


2) That the content of the forums has a chain of blocks (a system hash based) that guarantees the existence of those contents from the time the time stamp occurs.

In case that mining work could become a lot of load (too heavy, as for example happens to bitcoin mining), blockchains could be made by threads or other units smaller than the entire forum.


I leave here the basic ideas, in the absence of debugging for their development.

Kind regards.

It won't do an open source bulletin board project to embrace "web 3.0" nonsense.

[scooter]

phpBB Limited needs the power of the blockchain apparently. This terrible idea was posted in 2020 and it reads that they want threads/topics on phpBB to be stored in a blockchain style database. My guess: To allow topics and posts to be minted as NFTs.

This makes no sense - zero, zip, none. I can't imagine what they think they are hearing from the user community that prompted this.