Fred may as well be describing the turboencabulator[0]. I get that VCs should swing for the fences, but this seems like they are totally ignoring first principles when it comes to cryptocurrency/blockchain apps.
Dapps
111–120 of 139 posts
Re: Dapps
#112[deleted]
Re: Dapps
#113This is the guy who supports back doors for encryption. Proceed with caution.
and there's this:
>Error establishing a database connection
Re: Dapps
#114Earlier quoted context omitted.
The Dai stable coin. Many different smart contracts are constantly working together to keep the token worth very close to 1 USD: https://coinmarketcap.com/currencies/dai/
This isn't a dapp.
The core mechanisms are enforced by smart contract, dai issuance comes from multiple entities, it provides (or aims to provide) a large number of users some utility (stable purchasing power, whether to hold or spend) - why is it not a dapp?
Re: Dapps
#115The big elephant in his post is the fact that you need to pay (ie buy ETH) to start using dapps. That’s a big stumbling psychological stumbling block that the “regular” internet doesn’t have. And I think that fact will shape whether any of us or the regular public ever launch a dapp. There will be a small set of services I believe which will cross this threshold. Not sure if it will be a large number or not.
The whole concept of gas is user hostile and is a huge setback to broad adoption.
Is there any other (economically sound) alternative?
Re: Dapps
#116Earlier quoted context omitted.
Dapps mean apps on blockchain and consensus. Patchwork does not apply, otherwise one could mention "Torrents!" etc. You would be at least 20 years late to the party.
That seems like the point the parent is making: we already have "distributed apps" and have for decades.
By making that point its implied that he doesn't understand why has this new term, "Dapp", been created.
Re: Dapps
#117Not exactly a Dapp, but to me the first killer cryptocurrency use case is/will be Althea: https://altheamesh.com/ , incentivized mesh-networking and internet provider services with micropayments.
Hmm, I think one thing people forget, is that most of the time benevolent centralization, and revolution to another centralization when necessary is more valuable to consumers, than always on decentralization.
I don't know how that comment applies to Althea.
Re: Dapps
#118Earlier quoted context omitted.
In general, it is better if the value of your money that you want to use to buy things does not fluctuate every minute like in the case of Bitcoin. People are working on Dapps for insurance, lending, prediction markets. It is not practical to take out a loan that is denominated in a volatile currency. Also, If you want to bet on the next president in 2020 for example, it is not practical to make the bet using a volat…
What about using the USD? And using insurance/lending/prediction markets that use the USD?
USD can't be sent over the wire without the approval of and fees paid to banking institutions, with which both parties must be previously related and approved by.
Re: Dapps
#119Earlier quoted context omitted.
In general, it is better if the value of your money that you want to use to buy things does not fluctuate every minute like in the case of Bitcoin. People are working on Dapps for insurance, lending, prediction markets. It is not practical to take out a loan that is denominated in a volatile currency. Also, If you want to bet on the next president in 2020 for example, it is not practical to make the bet using a volat…
What about using the USD? And using insurance/lending/prediction markets that use the USD?
USD is not the ideal currency in terms of value stability. I know nothing about Dai, but if it works, its technology could be expanded to other, more material, more reliable assets than USD, and that would be great.
Re: Dapps
#120Earlier quoted context omitted.
I assume because it allows you to trade in and out from crypto positions to something that tracks fiat. This of course assumes that this coin can actually hold its value in the event of a market crash. I also assume it’s not backed by real dollars held in a bank but some kind of basket of other cryptoassets right?
It's currently backed by ETH but is moving towards multi-collateral assets. Today, they announced a partnership with Omisego [1], with one goal to allow OMG to be used as a type of collateral. There's also chatter about using DIGIX, which is another stablecoin pegged to the price of gold. The mechanism by which they maintain stability is quite fascinating. From the whitepaper [2]: > The Dai Target Price is used to de…
How does the system gets information about its own price in relation to the US dollar?