• 2 Posts
  • 216 Comments
Joined 3 years ago
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Cake day: December 20th, 2021

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  • But it seems you are totally missing the point of Taler, as it doesn’t even aim to be anything like so called crypto-“currencies”. It’s a digital payment system like Paypal, but decentralized.

    No, I’m not missing that point, I understand the design goals of Taler. You seem to have misinterpreted my comment. I am pointing out that the inability to store Taler currency in a cold wallet is counter to existing user education from similar systems (digital currencies) and therefore will lead to loss of funds of users who don’t understand how Taler works.


  • From the FAQ:

    How to avoid digital cash expiration?

    Taler e-money is issued with a validity period. One month before the expiration date, your wallet should automatically exchange any digital cash that is about to expire for new digital cash with an extended validity period. However, if your wallet is offline for an extended period of time, it may be unable to do so. Ensure your wallet is regularly online to avoid losing money due to expiration!

    You can lose money if the coins in your wallet “expire”.

    The fact that this system is shipping v1.0 with such an anti-user design deficiency tells me all I need to know. I wonder how many Taler “beta” users will lose their cash before they fix the design. I wonder how much of the customer support load of the exchanges will be dealing with this issue.

    And this comes after a decade of the cryptocurrency industry educating users to store their funds in a cold-wallet to avoid getting hacked, so it’s counter-intuitive to anyone with passing experience of digital currencies. If there’s one thing that we learnt from the cryptocurrecy industry, it’s that users don’t care to understand how the technology works, and will do stupid things. Anything that seeks wide adoption needs to be designed for non-technical people.

    What a terrible design decision.







  • Although the theory is promising, the duo point out that they have not yet completed its proof. The theory uses a technical procedure known as renormalization, a mathematical way of dealing with infinities that show up in the calculations.

    So far Partanen and Tulkki have shown that this works up to a certain point—for so-called ‘first order’ terms—but they need to make sure the infinities can be eliminated throughout the entire calculation.

    “If renormalization doesn’t work for higher order terms, you’ll get infinite results. So it’s vital to show that this renormalization continues to work,” explains Tulkki. “We still have to make a complete proof, but we believe it’s very likely we’ll succeed.”