Starting a crypto project

Post by andxor » Thu, May 06, 2021, 4:20 PM UTC

henvic wrote: post #26

spottybanana wrote: post #15

Earlier quoted context omitted.

> It's awful, and I guess we're only going to see this over once Bitcoin is surpassed by Dogecoin (I'm sure this will happen), and then Dogecoin gets surpassed by any other stupid shitcoin out there. Just pointing out that both Doge and BTC are proof of work and consume energy in similar style with the mining process.

Yes, like most if not all current cryptos: it's either stupid energy waste or fraud.

Post by jyriand » Thu, May 06, 2021, 4:21 PM UTC

Luker88 wrote: post #91

As someone interested in all of cryptography, I cringe every single time when we call blockchain "crypto". Sure, there's cryptography in it. But you don't call a mail or http server "crypto". There's similar tech in git, we don't call it "crypto", we call it VCS. Calling this "crypto" is just trying to add a mystic aura for stuff people don't understand, to further muddy the waters. We have a word for this technology…

Post by noxer » Thu, May 06, 2021, 4:22 PM UTC

anonymoushn wrote: post #92

noxer wrote: post #86

Earlier quoted context omitted.

Take a look at Sologenic. Sologenic is a fronted for the DEX. AFAIK they have no legal obligation to limit who is using it at all. The DEX as as its name says is decentral, they can not control it. They just make software that lets users use it. They can also not directly take fees because the DEX does not have fees (you make things decentral to remove the lurking middlemen who takes the fee) IDK how Sologenics busin…

I'm not necessarily sold on the idea of making products without business models. My lawyers so far have told me somewhat different things from "if it's all crypto then you have no KYC obligations"

Post by intotheabyss » Thu, May 06, 2021, 4:23 PM UTC

tinyhouse wrote: post #89

tnzm wrote: post #22

Earlier quoted context omitted.

That's why it's the investment space that needs disruption - which is why crypto is met with so much pushback on HN. A year ago, crypto-related stories made front page much less often, if at all.

Because people here try to understand the technology and its usage before riding the hype train. Most people investing in Ether for example have no idea what it even means. But when you ask them they would spit answers like "it's going to revolutionize finance..". When you ask them how, they have no answer. When you ask them for specific applications that they know of outside of the stupid NFT, they send you to Googl…

Post by noxer » Thu, May 06, 2021, 4:27 PM UTC

pjc50 wrote: post #99

noxer wrote: post #61

Here is a free tip if you want to do it anyway. DON'T CREATE ANOTHER F**ING TOKEN! Build you product on an existing reliable fast and cheap blockchain that fits your needs. Focus on the product not the price of tokens on said DLT. You dont need a token. No, really you dont. Your tokens only use case is likely to transfer value and guess which token can do this better than yours? All of them! Simply because they alrea…

> You dont need a token. No, really you dont. Your tokens only use case is likely to transfer value Other way round: transferring value to yourself is the only use case . If you take a second to look in the mirror and see the wreckage of previous startups in this space, you'll see that - as pointed out in the OP thread - 99% of the community is there for the pump and dump. For all the practical purposes, distributed…