341–350 of 511 posts
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Can you name some use cases that aren’t trading crypto derivatives or crypto debt? Ethereum is certainly more interesting than Bitcoin but the use cases so far seem to be more speculation.
Censorship-free distributed storage (using Ethereum & Filecoin)
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Sovereign identity, DAOs, NFTs (not just the art stuff which atm is a little cringe but game items, land registries, deeds), stablecoins (usdc, dai, yes there is also wilder experimentation here). I think people can quickly get dissuaded by some negatives like lack of scaling or environmental issues. These are real but are being solved. We really need communities like HN to engage because if proponents are right then…
> land registries, deeds I hope that will never happen. We really don't need anyone to end up in a situation where a key is lost and they can neither prove they own something nor sell it legally. Also, "transfer your home by mistake" scams. And have fun trying to figure out how to deal with dead owners.
Husband and wife divorce and the courts rule that the husband gets the deed to the house and the wife gets the Ferrari. Husband refuses to transfer the Ferrari's deed. Now what?
Unless you mean that the land registry continues to exist but uses a public blockchain as their database? In which case... why? If they did decide they wanted it all public, auditable, and in the open, they could just publish it as a signed text file every day and anyone who cared could mirror it.
Don't get me wrong, I think there's some really cool possibilities in the space, but lots of the things that get proposed are fundamentally subject to court orders. Unless we change the law so that judges can't say "I don't give a shit what the 'blockchain' says, A belongs to X and B belongs to Y, and anyone who won't play ball can sit in jail for contempt until they get on board," there won't be much point in keeping track of those assets on a blockchain.
I dunno if a crackdown is even going to happen, but in case it does, what's the plan?
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And what are some example use cases you can do with those things, or that people are using them for? Genuinely asking. I see people very excited about things like DAOs, but most descriptions seem to be about inter crypto use cases. With the early internet it was easy enough to see there were use cases like “instantly send a letter to someone across the world” or “order a book not stocked at your local store” or “go d…
https://seekingalpha.com/news/3680926-binance-launches-trada... Liquidity for things that don't normally have liquidity. Example: like wrapped Bitcoin, you could create wrapped Wine. Say you've got $1 million in a wine cellar. Create a wrapped token which allows you to use it as collateral or provide it to a liquidity pool to generate revenue. Now your wine is earning you interest. Something like this may already exi…
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Can you name some use cases that aren’t trading crypto derivatives or crypto debt? Ethereum is certainly more interesting than Bitcoin but the use cases so far seem to be more speculation.
- Pseudonymous Transactions / Privacy - Multiple Accounts - International Transfers - Customization (smart contracts) - Micro Payments / Internet money - Low entry (Phone, internet) - Peer 2 Peer and decentralized - Free Software
Isn't eth terrible at this? i have $12 USDT stuck on an eth address because i need to spent $30 worth of eth to send it. That's not even including the fee I'll incur when i have to send eth to the address to fund it..
To me it's always seemed like money grows from the barrel of a gun. Detaching money from military power sounds wonderful but it makes no sense to me. It seems to defy the very basis of what money is. Tokens handed out by warlords. Only stretched out over such a long time that it isn't obvious any more. Obviously I am neither an economist nor a political theorist.
It is also inevitable, as any country that decides to ban it will eventually be forced to bring it back as soon as a rival starts using it.
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Generally speaking we don't need to wait as long as the previous iteration existed to prove the new generation is successful. For instance, I think it's fair to say e-mail is a success, even though the first postal system was established under Cryus the Great in 550 BCE in Persia. The first e-mail was sent in 1971. Are you saying we won't be able to declare victory on e-mail until the year 4492?
Sure. I think people will be sending physical mail to each other longer than using pop3 smtp and imap
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Cryptocurrency/web3 is at its core just technology. Fundamentally, the technology is still not that far advanced from the early Bitcoin days, but the little that is currently implemented successfully allows for ponzis and gambling. Cryptocurrencies currently trade for over $2 trillion, most of that value may indeed be a net negative for society, but that doesn't say anything about the core technology in itself. If cr…
> Decentralized networks have the potential to resolve many of the issues we techies love to complain about. I continue to hear this yet I never get a _single_ convincing example from DeFi advocates.
Now obviously this is not quite a a reality today. Most things exchanged on Uniswap are crypto tokens, but there are a lot of synthetic assets today, like mTSLA (which is a synthetic share of TSLA) and many more. So now I can hold stocks in my Metamask account today. Sure, it's only price exposure, it's not like TSLA has dividends anyway.
And then there's the oracle problem when it comes to real world assets, but this is solvable with existing legal systems, and soon, crypto legal systems like OpenLaw.
So yeah, Uniswap is my go to example of the power of DeFi.
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Sovereign identity, DAOs, NFTs (not just the art stuff which atm is a little cringe but game items, land registries, deeds), stablecoins (usdc, dai, yes there is also wilder experimentation here). I think people can quickly get dissuaded by some negatives like lack of scaling or environmental issues. These are real but are being solved. We really need communities like HN to engage because if proponents are right then…
> Sovereign identity Not a real problem. Any civilized country has solved identity already. > DAOs A solution in search of a problem > NFTs Speculative. Game items, land registries and deeds are a solved problem. If your jurisdiction/company hasn't solved them already with Postgres and hardcopy it's because it's not interested in solving it or it's not a real problem, just a minor annoyance.
Jesus Christ. So the only problems that matter are the ones in "civilized" countries? What does that even mean?
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When they realize, they will kill on/off-ramps into cash and make any transactions not legal. The software itself they can treat is as malware - blackhole IPs and shutdown any hosts involved.
The value of crypto would decrease but never be completely gone. A whole pandora's box was opened and they can't put the genie back in the bottle no matter how hard they try. If they were to kill the offramps, the ecosystem would move on websites on Tor or I2P that would work P2P, they can use high privacy coins such as Monero or zcash. Or people will trade it in person using escrow systems. It's not like the first B…
Local in-person exchanges for any significant amount are already under fire, it can be made even more so.
https://www.atmmarketplace.com/news/six-arrested-in-connecti...
https://www.justice.gov/usao-ma/pr/fitchburg-man-charged-mon...
https://www.justice.gov/usao-cdca/pr/ontario-man-agrees-plea...
https://www.justice.gov/usao-cdca/pr/bitcoin-maven-sentenced...
https://www.forbes.com/sites/billybambrough/2020/05/28/new-y...
https://duckduckgo.com/?q=bitcoin+arrested+money+laundering+...