Why does the left hate crypto so much?

Clinamenic

θερμοδυναμικός καπιταλιστής
The basic idea of distributed ledgers, merkle trees etc is kind of interesting, but all the endless explanations of the obscure tweaks to fractally niche details of different coin technologies that you get when crypto nerds need convince themselves / others that they're making some sort of big-brain moves and not just buying magic beans are boring as fuck. It's like five-year-old giving you a three hour explanation of all the made up details of all their imaginary friends. It's like excruciatingly bad fanfiction for economics. Horrifying.
Yeah I'm not yet savvy enough to confidently sift through the presentations of technical advances, how much of it is lip service for investors who are vetting for "active development", etc.

But my understanding so far of ZKSnarks and Optimistic rollups are that they address the sheer volume of computation being done, which may enable more network activity without each node carrying such a burden. I think a lot of it boils down to storing records of compressed/hashed records, rather than just the plain transaction history in all its bulkiness - too much to have each node remember.

Maybe it can be likened to funneling some of the ledger data into a sort of cold storage, where transaction history can be accessed by unhashing some of the data on the main chain, rather than just having everything on the main chain. Pretty sure "optimistic rollups" are about assuming that the transaction data is accurate, putting the burden of proof on anyone who calls into question the legitimacy of a given pending transaction or set of pending transactions.

Broadly it seems to be able designing a more and more computationally efficient infrastructure for blockchain applications, and I'm not sure how much of this is open-source. Much of the zero-knowledge cryptography discourse is open source, I gather.
 

Clinamenic

θερμοδυναμικός καπιταλιστής
And the zero-knowledge stuff is about communicating private information that can technically still be publicly verified, something to do with communicating the points that a function intersects with the X axis, the points as shorthand for the function itself, which can remain private. Can't explain beyond that though, as I still only have a cursory understanding of what zero-knowledge proofs are even doing.
 

woops

is not like other people
Yeah I'm not yet savvy enough to confidently sift through the presentations of technical advances, how much of it is lip service for investors who are vetting for "active development", etc.

But my understanding so far of ZKSnarks and Optimistic rollups are that they address the sheer volume of computation being done, which may enable more network activity without each node carrying such a burden. I think a lot of it boils down to storing records of compressed/hashed records, rather than just the plain transaction history in all its bulkiness - too much to have each node remember.

Maybe it can be likened to funneling some of the ledger data into a sort of cold storage, where transaction history can be accessed by unhashing some of the data on the main chain, rather than just having everything on the main chain. Pretty sure "optimistic rollups" are about assuming that the transaction data is accurate, putting the burden of proof on anyone who calls into question the legitimacy of a given pending transaction or set of pending transactions.

Broadly it seems to be able designing a more and more computationally efficient infrastructure for blockchain applications, and I'm not sure how much of this is open-source. Much of the zero-knowledge cryptography discourse is open source, I gather.
he means its boring. and its for nerds.
 

Clinamenic

θερμοδυναμικός καπιταλιστής
Yeah I wouldn't disagree that its boring and for nerds, I was being sarcastic the other day when I replied to that assertion.
 

Clinamenic

θερμοδυναμικός καπιταλιστής
I don't know what is happening behind the scenes as I compress a file into a ZIP format, but I think the principle is the same: sharing/upload ZIP files is more efficient in terms of the ultimate bit count, I suppose, which is ostensibly what this all boils down to, hence "ultimate".
 

Clinamenic

θερμοδυναμικός καπιταλιστής
But I do disagree about it all being nonsense. Some of it is liable to be, hence my determination to understand it enough to sift away the bullshit.

The incentives are in place, financially, for blockchain quacks to propound their blockchain quackery to sate the unscrupulous investors.
 

Clinamenic

θερμοδυναμικός καπιταλιστής
But at a certain point it becomes just as hard to fake innovation as it is to actually make it, and anyway much of this is too boring for 99% of crypto investors to wade into, thus lessening the incentives to fill such depths with bullshit.
 

Clinamenic

θερμοδυναμικός καπιταλιστής
Yeah much of this is for engaging with whoever wants to engage, as well as for posterity, charting out my own understanding over time, cerebral history, etc.
 
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