As AI increasingly answers “how,” this book focuses on “why.” Rather than focusing on how to build software, it asks why programming matters.
As AI increasingly answers “how,” this book focuses on “why.” Rather than focusing on how to build software, it asks why programming matters.
I self host on Gitea. It’s called ownership. It used to be a thing.
And yeah money gets stolen n shit. That happens. Look at the legacy financial system. Money attracts thieves.
Instant trustless transfer in a dark forest of evil. Huge.
Sure but it’s not the Federal Reserve that steals from people. Crypto is like if Charles Ponzi ran the Federal Reserve.
What an odd thing to say. Does this include USDC?
USDC doesn’t really support your “trustless” point. It isn’t trustless; it’s basically traditional financial infrastructure with a blockchain strapped on.
You still have to trust Circle to actually hold the reserves, honor redemptions, and manage them properly. You need audits and regulation to make that credible. In other words, the thing providing stability is precisely the centralized trust crypto was supposed to eliminate. A stablecoin can’t replace fiat while remaining pegged to fiat. And what do we get in return? Mostly a harder-to-tamper-with ledger.
Stablecoins don’t have a spotless record either. The CFTC found Tether made misleading claims about its reserves, and USDC itself briefly fell to about $0.87 when SVB failed because $3.3B of its reserves were stuck there.
It does support trustless from a transactional standpoint. Yes it’s mint has some caveats that anyone transacting would be familiar with.
But if you wanted to accept payment for a car in USDC, the instant I paid you, you can trust that transaction happened and cannot be undone by me. Understanding Circle is backing it.
That tx can be done for a penny or two, instantly, globally. That’s a big deal.