I appreciate what people like you do but is it wise to completely trust others to handle finances because they 'know what they're doing' and we don't?
Right, it would be good if more people were informed.
As they are not, I have no trust in their opinions either.
A consensus of stupidity does not miraculously become wisdom.
We have seen such stupidity on an enormous scale - LUNA crashing, now FTX - LUNA was more to the point, as I saw the huge cheering as it scopped up a ton of BTC; I found this suspicious, so instead of "voting" with my small stash, I "voted" by selling most of it (sadly, not all).
Anyway, back to the issue - a crypto 101. Have you really not found one? genuine question. I just wonder if worth my time writing one - most people truly deeply don't care.
https://www.dummies.com/article/business-careers-money/personal-finance/cryptocurrency/what-is-cryptocurrency-237561/
I got bored after a couple of paragraphs - it reads like over-diluting cordial to the point it tastes of nothing. lol
This might be a better start = https://www.investopedia.com/terms/d/distributed-ledger-technology-dlt.asp
crypto = DLT
then unpick each part into its components; and how each can be either controlled or distributed.
I rarely recommend video channels, but Anton is good, and intelligent
look at his shorts.
yeh I like this guy. I think I see the problem now, blurt is trying to mix creatives with techies and mathematicians which I'd say is like trying to mix chalk and cheese. Most of the creatives are happy to leave the details to those who deal with them. It's like the school dance with all the men on one side of the room and all the women on the other and the problem is how to get the dance started.
I think what he says about measure of success and going mainstream is the crux of the matter here. There is much talk of attracting investors and now 'influencers' which is an attempt to go mainstream. I think I can say most people here want nothing to do with mainstream and that's why we are here.
This video helped a lot thanx xx
It's not even as binary as techies v creatives, but also add investors - so have 3 categories that barely overlap. Add to that the issue that all 3 barely-overlapping-categories have the right to an opinion via stake-based voting and you have a tower of Babel, where they will talk across each other. eg basic issue, good quality does not equal high votes.
And that's another deep issue; as soon as you add money to anything the behaviour changes. I suspect that's why the big socmedia sites have held back on monetising behaviour - it will suck! "Suck for a buck" is the reality.
I had started to design something that looks eerily similar to what Hive has been doing - which is to separate the investors from the bloggers, by incentivising HBD. The tweaking of the reward pool was really a test run as everybody else was shit scared it would break! Coders don't know everything - someone who designs an engine might be crap at knowing how the transmission works. lol.
Glad the video helped - keep asking awkward questions ;-)
Thanx, I did think of one question this morning.
When they say 'print blurt' as in printing money what exactly is it they make?
I imagine it's a string of digits for each 'token' each one individual?
When they 'burn' the blurts do they just delete each string of digits?
Yes I think analogies are a very good way of explaining things simply.
I thought of a new one but not sure how accurate it is. Gambling casino chips! Could crypto be compared to those in a way?
lol. I often compare tokens to casino chaips!
many similarities, eg can only be used in that one casino, or possibly one within the same company.
Similarly, the cost of a chip is nominal, merely the cost of manufacture, and not the face value - yet it has the face value while in your "wallet".
Creating coins is just a creation-function based on global-parameters eg how many, when, inflation rate etc.
This ill-fated SMT paper gives you an idea, as setting up an SMT token is quite similar to the underlying STEEM setup.
https://smt.steem.com/smt-whitepaper.pdf
OK good so I'm not crazy then lol. So my staked blurt are kind of shares in Blurt?
this might be of interest
https://forkast.news/defi-real-estate-revolution-tokenization-rise/
yes seems my casino chips were right. Means I am understanding.
no, no, no... you can't call them that - they are stakes!
lmfao
like the difference between a race and a people.
But yeah - shares - the difference is that shares in most companies are fixed and require special resolutions to change that. It does happen that new shares are created. In most crypto, the shares/coins are created algorithmically - this does not happen with corporate shares - not yet.
right lol
The trouble with separating 'investors' from bloggers is the lines have already been blurred here. We are ALL investors here. Everyone who stakes is an investor. Never underestimate the small investments from people who care about Blurt as opposed to those who just want to see its (in their eyes) success.
Like the video said we need to change our view of 'success'. It's not just about money.
It remains a major flaw of DPOS - and something even Dan hasn't solved. Not that I expect him to, just that he's had more years to think about it.
Who's Dan?
Larimer
LOL love the cordial analogy. Yeh it IS a bloody boring subject which is why I'm loath to write on it too. I'd only write if I a) know the subject enough to write about it and b) could make it entertaining enough so that others will not give up at the first paragraph.
I think I managed to do that with modern medicine but it took years to understand it enough to have the confidence to blurt out what I knew.
It's a classic joke that accountants are boring but my friend Dawn Lester who co-wrote the book 'What Really Makes You Ill' managed to do it too.
Maybe I should ask her? But then crypto is still another kettle of fish isn't it.
I know everyone hates him but seriously if we could get Lucylin to write something on it we'd have something LOL. But I know he's a techtard too. Maybe I'll ask him.
I've read up on a lot of weird bits of history while studying crypto - maybe those analogies might help people, or at least make the text more interesting.
like adding a sprig of mint to the cordial ;-)