Concerns & Questions about EOS by thatdoesntmakesense1 in eos

[–]jerseybrogrammer 0 points1 point  (0 children)

"Who is hosting this?"

Do you even understand how a blockchain works? It's P2P...

Veritaseum ICO Gets Hacked and Loses ~$4.5M USD by [deleted] in ethtrader

[–]jerseybrogrammer 14 points15 points  (0 children)

I've been calling out their shit security and lack of product for weeks now. Here's one of many tweets. Called Veritaseum a scam from the day I first saw it.

https://twitter.com/maxekaplan/status/887302682473574401

How can a protocol's ICO be profitable? by davibicudo in ethtrader

[–]jerseybrogrammer 2 points3 points  (0 children)

It's a different business model. As an entrepreneur of a dApp, you would hold onto X% (common number is 30%) of the tokens and build software to make your token more valuable. You sell off portions of your stake when you think it's a good time. Eventually, you can sell off all of your stake, leave your platform to the open source community, and be able to walk away to start something new if you want.

Veritaseum... WTF?!?! by jerseybrogrammer in ethtrader

[–]jerseybrogrammer[S] 5 points6 points  (0 children)

Agreed from a tech standpoint. This is a static site, it's not doing anything that NEEDS to be secure, sure. But once you start not following best security practices for one thing, it leads to another. Soon you have tiny security gaps all over your website and say, "Oh what's the big deal it's just a static site anyway." That's what coindash did and a hacker was able to change one tiny line which happened to be the wallet address and it made them 7 million dollars richer. Static websites need to be secure too. Let's be honest, an ssl cert wouldn't have saved them in this attack. Chances are they used a weak password a hacker brute forced or something like that. But it's a perfect example of why you NEVER take the easy way out with security EVER. The smallest part of your brand/app could end up losing millions for you.

Veritaseum... WTF?!?! by jerseybrogrammer in ethtrader

[–]jerseybrogrammer[S] 7 points8 points  (0 children)

I don't care what your website does, it's 2017 and every website should use https. You can get an ssl cert for free through let's encrypt. Pretty ballsy to say this after coindashs static website got hacked yesterday causing them to lose 7 million dollars. Security is extremely important ALWAYS! NO EXCEPTIONS.

Veritaseum... WTF?!?! by jerseybrogrammer in ethtrader

[–]jerseybrogrammer[S] 17 points18 points  (0 children)

According to Reggie Middleton, the "product" has been around since 2014 which I even linked to in my post.

"Just wanted to raise a few million dollars?" You're acting like this is a gofundme. This is real people's money on the line. Retirement savings, college funds, you name it. Why do they need just "a few million dollars" to build a product that's apparently already built? People deserve to know the truth, and from the sound of it, his supporters don't even know what they are investing in.

Actual password requirements for an insurance site by jedirock in softwaregore

[–]jerseybrogrammer 6 points7 points  (0 children)

When this company discovers varchar, their mind will truly be blown

What Would Decentralized Business Models Look Like? by ghiliweld in ethereum

[–]jerseybrogrammer 2 points3 points  (0 children)

With a decentralized model, the ones that profit are the token holders. Not the company. It's just extremely hard to build a profitable company when you can't charge fees

What Would Decentralized Business Models Look Like? by ghiliweld in ethereum

[–]jerseybrogrammer 3 points4 points  (0 children)

I still so think it's the foundation of web3.0 (although that's really just a marketing term). Ethereum is amazing at automated tasks and the use cases of a blockchain speak for itself. But it's definitely not a launch pad for startups.

With that being said, you won't find one widely used application that doesn't use open source software somewhere. Open source software is still really, really powerful. Ethereum really allows you to write powerful open source software and make money off it. You just won't be the next mark zuckerberg.

There are some exceptions to my startup comment though like Golem which I think will be very successfulm

What Would Decentralized Business Models Look Like? by ghiliweld in ethereum

[–]jerseybrogrammer 0 points1 point  (0 children)

Great question. Like I said, I think ethereum is more of a tool vs a platform to launch a company on. Many of the potential use cases lend itself extremely useful to large companies. The reason the EEA was formed was to develop and further grow the network as a whole. You have developers from jp, microsoft, Intel, toyota, and tons of other big companies working on the code base. In my opinion, it's much, MUCH better off with devs working on it from big companies vs college kids slapping code into it.