Every day I'm further convinced that all that's happening in this space at the moment is that cryptocurrencies are soaking up enough fiat money to push it at someone to come up with a good reason for them to exist.
ICO startups band together to create $100M grant fund for Ethereum projects
21–24 of 24 posts
Re: ICO startups band together to create $100M grant fund for Ethereum projects
#22Really good/bad mixed feelings on this. - Is it legal for effectively crowdfunded projects to then fund other projects? - Ethereum has integrity, willing to change its core technology in order to become more scalable. But... - Is "paying off" developers to build apps for it just evidence of the lack of apps naturally/organically being built? - Yet Seed Stage funding from traditional VCs has dried up, so is this effec…
> Is it legal for effectively crowdfunded projects to then fund other projects?
This makes me wonder, people (presumably) bought into an ICO to fund a specific goal and not to enable a new age of venture capitalists.
Though this could be another classic sign that we are witnessing a bubble in its pre-bust stage -- would seem to fit with the "spike the punch bowl" phase but with replacing central banks with core cryptcurrency advocates methinks.
Re: ICO startups band together to create $100M grant fund for Ethereum projects
#23Earlier quoted context omitted.
The current solution is to rely on a Blockchain Oracle, a third-party smart contract that is hooked to real-world data feeds and acts as a data career.
> ...hooked to real-world data feeds I think that's what is meant by "a trusted source of information from the outside world". You can have as many layers of smart, trustless technology as you want sitting between the dapp and the data source, but it always comes back to relying on a trusted (and potentially corrupt/compromised) real-world source. Maybe it has to be multiple independent sources? Sorry - there's still…
> There's still no way for those sources to cryptographically disprove any collusion
Honest question, do blockchains do this? My understanding is that blockchains operate under the assumption that collusion is common and bad actors are rampant and are designed to mitigate it, not that they can prove collusion is not happening.
Hypothetically, if every mining node provided a real-world value in every broadcast, then wouldn't the consensus mechanism operate as an oracle just like the transactions operate as a ledger?
Re: ICO startups band together to create $100M grant fund for Ethereum projects
#24Earlier quoted context omitted.
Oh the cynicism here is so sad. To everything there is a season, I guess. Anyway! Does the Dai stablecoin not undermine this idea that nothing worthwhile can be built on Ethereum? Don't like ICOs? Neither do I. While the evolution of ICOs in 2017 was really interesting I think DAOs (and things like DAICOs) will see more prominence in 2018. It is an exciting world!
It’s a common error of judgement to assume that people who don’t share your unvarnished enthusiasm are cynics. One way to test for this is to see if you can intelligently address the concerns of “cynics” without just waving your hands and invoking the rosy future you imagine. It can be helpful to look to the past and present and try to understand why people have reservations, and address them comprehensively.
The original comment was cynical wasn't it?