Comment by chmod775
4 years ago
Creating a public permanent record of having fallen for the latest crypto shitcoin will likely be too embarrassing for some. But then again I'm having trouble relating.
Successful "crypto startups" hardly exist, and most of those are selling shovels to suckers. What was the expectation here?
Isn't it already "a public permanent record" because it's already in the news?
It's in the news about this company, but it's not in the news that I fell for the scam for example.
A blockchain is already a public permanent record in the first place.
It won’t be once it shuts down. Blockchains are as permanent as the miners that power them.
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There's no such thing as a blockchain permanent public record. Some entity has to keep that up forever, maintained, public & accessible, for it to be such - that's not going to happen. Nearly all of them will fail and be wiped by time.
And certainly all of them can go away, they're mere digital storage systems. There's nothing permanent about any of it, not by any stretch of the imagination.
They're particularly, almost pathetically, temporary records. Most of these garbage coins will have no comprehensive financial records remaining several decades from now. By contrast, I know a lot of small businesses that have elaborate financial records going back 30-40 years, and the country is surely filled with similar (and most large corporations will have such).
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