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Paid in Full: an internet where every interaction is a financial transaction

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Re: Paid in Full: an internet where every interaction is a financial transaction

#41

Post by db48x »

somebodythere wrote: post #39
db48x wrote: post #26

Earlier quoted context omitted.

Well, to be fair, Ted Nelson designed Xanadu so that everything would be automatic. The design called for everyone to have a single verified identity linked to their payment information, and they could both make and receive payments with automatically. If you copied and pasted (or transcluded, rather) content from one document to another, the authorship information would go with it (assuming that nobody cheated), and…

The payment friction can be taken away, but before every link I click, I would still be thinking to myself: "Is what I'm about to read worth ten cents?"

Definitely. No one would read replies to their own comments either, because they would have to pay back the money they earned when their interlocuter read their comment.

Re: Paid in Full: an internet where every interaction is a financial transaction

#43

Post by [deleted] »

hanniabu wrote: post #34
potiuper wrote: post #24

Earlier quoted context omitted.

PoS is drastically cheaper to do a 51% attack than PoW as the attack only costs the 51% cost of carry and insignificant transaction fees to enter and leave the position compared to having to organize the purchase of and rental fee for 51% of the hash rate for the target block time.

https://vitalik.ca/general/2020/11/06/pos2020.html

[deleted]

Re: Paid in Full: an internet where every interaction is a financial transaction

#44

Post by rauljordan2020 »

egypturnash wrote: post #14

Thanks, I hate everything about this future internet. Let's just have a world where every single Internet transaction involves burning absurd amounts of energy to perform proof-of-work. It'll be great. Yes, sure, sure, ETH is trying to move to something else less absurdly wasteful, get back to me when that's not being pushed back on by miners who're pissed they'll make less money if that happens. Not only memes but i…

> Yes, sure, sure, ETH is trying to move to something else less absurdly wasteful, get back to me when that's not being pushed back on by miners who're pissed they'll make less money if that happens.

ETH proof of stake is already live since December 1st, 2020, and it runs as a separate chain at the moment. There will be a "docking process" in which the state of the current proof of work chain will be moved to use this new chain's consensus algorithm. This cannot be stopped by miners. https://www.coindesk.com/ethereum-2-0-beacon-chain-goes-live...

Re: Paid in Full: an internet where every interaction is a financial transaction

#45

Post by toast0 »

somebodythere wrote: post #18
dannyw wrote: post #7

Earlier quoted context omitted.

Wasn't that decades ago? Times change and sometimes ideas are too new for its times.

I can't imagine the situation has gotten better. How many pieces of web content does a person view in a typical day? 50? 100? Imagine making fifty purchase decisions every day. I think anyone would be exhausted.

A pay for access to content model would really only work if it were frictionless. If you have to decide before you read, people would simply say no. If you pay after you read, people would probably say no, too.

On the other hand, in the before times, people paid by the minute to a network provider (such as Compuserve, Genie, AOL, etc) as well as to their phone company to get online. I might consider paying per minute to access some high quality journalism... But then again, probably not, I'm cheap.

Re: Paid in Full: an internet where every interaction is a financial transaction

#46

Post by ip26 »

somebodythere wrote: post #18
dannyw wrote: post #7

Earlier quoted context omitted.

Wasn't that decades ago? Times change and sometimes ideas are too new for its times.

I can't imagine the situation has gotten better. How many pieces of web content does a person view in a typical day? 50? 100? Imagine making fifty purchase decisions every day. I think anyone would be exhausted.

If it was sufficiently cheap, perhaps 1 cent per view, you wouldn’t really have to think about it.

Re: Paid in Full: an internet where every interaction is a financial transaction

#47

Post by ralusek »

bobwaycott wrote: post #37
at_a_remove wrote: post #21

The Internet as we know it was built on the back of someone else's free. I am older than most of the crew here and can remember when the majority of the telnetting and IRCing we did was against .edu domains, using the disk space of a Sparc 1, sucking up someone else's bandwidth. In February of 1993, someone very much like Don Draper woke, inexplicably but smiling, with the first morning erection in years as the tag w…

Ye gods, I haven’t heard anyone reference NetZero in ages . My mates and I got everyone we knew to use it. I still remember when, in the midst of us studying and discussing philosophy, we wondered if NetZero was really free or if we were just paying for it with something other than money. Thus began my unceasing hatred of the advertising-driven internet.

Would you look at that, you really do say "ye gods" a lot.

Re: Paid in Full: an internet where every interaction is a financial transaction

#48

Post by frosted-flakes »

somebodythere wrote: post #39
db48x wrote: post #26

Earlier quoted context omitted.

Well, to be fair, Ted Nelson designed Xanadu so that everything would be automatic. The design called for everyone to have a single verified identity linked to their payment information, and they could both make and receive payments with automatically. If you copied and pasted (or transcluded, rather) content from one document to another, the authorship information would go with it (assuming that nobody cheated), and…

The payment friction can be taken away, but before every link I click, I would still be thinking to myself: "Is what I'm about to read worth ten cents?"

The worst part is, this model would incentivize clickbait even more.

Re: Paid in Full: an internet where every interaction is a financial transaction

#49

Post by XorNot »

austincheney wrote: post #27

The ideas expressed in this article should be applied to government. Everything in government should be a financial transaction. I should be able to see a list of what my federal income tax dollars pay for as a percentage of my tax contributions down to the 0.1% mark. Those assessments should be based on the real money government pays not the estimated funds that float around a bill or a budget. My thinking is that i…

The US federal budget's spending allocations, both upfront and actual, are publicly available (https://www.govinfo.gov/app/collection/budget). You know how much money you pay in taxes. This is not difficult to figure out if you were actually interested.

Re: Paid in Full: an internet where every interaction is a financial transaction

#50

Post by joe_the_user »

at_a_remove wrote: post #21

The Internet as we know it was built on the back of someone else's free. I am older than most of the crew here and can remember when the majority of the telnetting and IRCing we did was against .edu domains, using the disk space of a Sparc 1, sucking up someone else's bandwidth. In February of 1993, someone very much like Don Draper woke, inexplicably but smiling, with the first morning erection in years as the tag w…

The free structure of the Internet was the only way it could have appeared and is still the only way most of it can operate, for good or for ill.

Even more, people attacking the free part tend to evoke an image of all the other manipulative parts of modern media vanishing if people somehow pay. But the Wall Street Journal and to a lesser extent the New York Times, do their best to be paid but it's the same sort of product, trying to eyeballs. Spotify has a paid and an advertisement based service. It's the same service. Media, free or not, is based on attention. In fact, in the present and earlier eras, advertising gave more money than subscriptions for all the subscription based magazines - subscriptions are valuable to show advertisers your loyal customs.

What's the solution for the problematic of modern media? I could recommend this text but it takes concentrated reading to get through.

http://www.bopsecrets.org/SI/debord/

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