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Starting a crypto project

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Re: Starting a crypto project

#131

Post by TigeriusKirk »

samvher wrote: post #113
hanniabu wrote: post #79

Earlier quoted context omitted.

I've found r/ethereum to be pretty level-headed. > Ethereum could be extremely valuable but that its value is currently hurt by the speculation on Ether making transactions far too costly FYI the price of ETH does not affect the transaction costs. The fee market is independent. There's solutions to this in place and more being worked on though. The 3 biggest contributors will be EIP 1559 which is meant to level out t…

Huh, I totally thought transaction fees were set in Ether and that’s why the costs are so high (in fiat of course). If that’s not it, what makes the transactions so expensive? Lot of competition for limited throughout?

Yes, it's competition for limited throughput. Especially with the DeFi boom, fees have been bid higher and higher to be sure transactions are included in an immediate block.

Incidentally, if you're looking to keep up with Ethereum in particular, the newsletter Week In Ethereum News is an excellent resource. It's a links-with-descriptve-blurbs kind of thing. It's still a bit of a firehose if you're catching up on the space, but just pick a few items that sound interesting every week. https://weekinethereum.substack.com/

Re: Starting a crypto project

#132

Post by megameter »

noxer wrote: post #128
arcticbull wrote: post #118

Earlier quoted context omitted.

No it's not that, there's not a single blockchain based solution that achieves better results than a classical solution. Not a single one. Never has been. Not in 14 years. I'm open to one showing up! But, well, it hasn't. And that's because there's a huge fundamental cost to trustlessness, decentralization and permissionlessness that substantially no project actually benefits from.

The post above has a list of companies who build on top of such a decentral permission-less system that apparently has no benefits. Start with coil.com what they do it not possible with the financial system. They enable users to stream money to content creator in real time with fractions of cents per second. A central system would not make any sense. It must be p2p and there must be a ledger to "settle the transactio…

Exactly - a good use of a decentralized ledger doesn't leave so much room for speculative profit motives.

However, my own investment thesis is that the "crypto" market is ultimately destined to march towards that useful and unprofitable outcome, kicking and screaming the whole way, by dint of the long-term market survivors being the civically oriented perennials. But this is a long journey, maybe another decade or two in the making(a epochal shift in tech). It will continue to have ups and downs.

Re: Starting a crypto project

#133

Post by jcpham2 »

It would be super awesome if the personalities attracted to this would realize they are many many years too late to attract anyone else to their scheme.

That's my personal opinion but ya'll seem to like that over here on the 'ol HN (aka the new slashdot)

Re: Starting a crypto project

#134

Post by vallas »

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…

XRPL doesn't even have their landing page copyright updated

Re: Starting a crypto project

#135

Post by reedjosh »

noxer wrote: post #80
reedjosh wrote: post #67

Earlier quoted context omitted.

Only downside is you can't inflate the supply for unique purposes. For example PeakD.com inflates hive to give content creators tips based on likes. Edit: I thought this was legitimate reasoning behind having your own token. I don't mean it in an inflammatory way. Please explain why you disagree.

I dont think this is a downside at all. If you build on a existing blockchain you ofc need funding rather than "printing" you own funding. It may be harder but also less of a legal risk. BTW Coil.com pays content creators based on user interaction. Its however not self printed money its form actual user who want to support content creator rather than ad-companies. Ofc coil itself runs on funding money like any other…

The nice thing about "printing" vs funding for things like this is that you don't need users to sign up or transfer funds to be able to tip content providers.

That said I do prefer the Coil.com model as I love crowd funded ad free media content, and I _do_ pay for it. : )

Re: Starting a crypto project

#136

Post by ithinkinstereo »

pjc50 wrote: post #104
pattusk wrote: post #45

Earlier quoted context omitted.

I said most because indeed most of the innovation, both technical and cultural originates from Ethereum. But DOGE, XRP, ADA, LTC, BCH, TRON, ETC. EOS, NEO, BSV are all in the top 25 and have nothing to show for it despite being some of the oldest players in the space. The L2 projects on Bitcoin are not new and they've never brought anything revolutionary. And I think BTC is fine without L2, it's a very different phil…

> BSC, whose sole purpose is to make scams out of ETH projects and run them on a centralized chain, sits close to 100 billion dollars Scams are big business, but that just illustrates how delusional and bubbly these are; is BSC, a thing I'd never heard of before, really of equivalent value to .. Square? Lockheed Martin? Target? AirBnB? AMD? NTT? Uber? https://companiesmarketcap.com/page/2/

BSC is a Eth competitor by Binance.

Gas costs in ETH have been at historical highs, making it uneconomical for players under 5-6 figures of capital to do basic transactions, let alone yield-farm / manage positions, so various DeFi dApps have moved over to less congested chains like BSC and Solana.

Sure, lots of scam projects due to cheaper deployment costs (again low gas fees vs Eth), but legitimate projects too: see PancakeSwap, which started out as a Uni clone, but has arguable expanded to offer more / different set of features.

Speaking more broadly, yes, we're in a crazy bubble, but that's really the case across all asset classes at the moment due to rampant central bank printing. Scams are proliferating in equities too, see SPACS.

Not to trot out the "this time is different" meme, but unlike the '17/'18 cycle, you have far fewer whitepaper copy-pasta scam ICOs and way more legitimate projects; with real teams, real users, real use-cases. Plus, institutions are actually ape-ing in, so take that for what you will.

IMO pace of development and adoption will only accelerate from here on the back of an already "mature" internet and mobile ecosystem + generational familiarity/acceptance of digital value in the youth.

As someone who grew up during the transition from analog-digital, crypto gives me mega 90s/00s internet vibes, especially the feeling of inevitability around the DeFi space.

Re: Starting a crypto project

#137

Post by mosselman »

koalala wrote: post #68
mosselman wrote: post #65

I see lots of people in the thread, including the author, that have avatars with glowing eyes. Can someone explain what this is about? Is this some sub cultural thing?

It's the 'laser eyes' meme. https://knowyourmeme.com/memes/laser-eyes-bitcoin-trend-lase...

Ah thanks :)

Re: Starting a crypto project

#138

Post by sadfasf122 »

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…

Cryptocurrency - therefore crypto for short.

/thread.

Re: Starting a crypto project

#139

Post by mtalantikite »

noxer wrote: post #128
arcticbull wrote: post #118

Earlier quoted context omitted.

No it's not that, there's not a single blockchain based solution that achieves better results than a classical solution. Not a single one. Never has been. Not in 14 years. I'm open to one showing up! But, well, it hasn't. And that's because there's a huge fundamental cost to trustlessness, decentralization and permissionlessness that substantially no project actually benefits from.

The post above has a list of companies who build on top of such a decentral permission-less system that apparently has no benefits. Start with coil.com what they do it not possible with the financial system. They enable users to stream money to content creator in real time with fractions of cents per second. A central system would not make any sense. It must be p2p and there must be a ledger to "settle the transactio…

> Start with coil.com what they do it not possible with the financial system. They enable users to stream money to content creator in real time with fractions of cents per second. A central system would not make any sense.

I’m sorry, what? Genuinely curious about what the use case is here, I’ve never heard of this before. I pay based on the amount of time I consume?

Re: Starting a crypto project

#140

Post by ccamrobertson »

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…

Regardless of the "crypto" shorthand, blockchains are distinct from cryptocurrencies. A cryptocurrency can exist without using a blockchain to record balance changes, and likewise, a blockchain can exist which is not used for recording accounts or spendable outputs.

The "crypto" shorthand emerged from the cryptocurrency side, which by and large, uses cryptographic primitives in order to spend and receive value. One further bit worth adding is that the market demand for cryptocurrencies broadly has directed massive amounts of resources towards the development of novel cryptographic primitives.

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