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Starting a crypto project

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Re: Starting a crypto project

#161

Post by chrisco255 »

hanniabu wrote: post #55
fumblebee wrote: post #18

> 2. You aim to build a community, but in reality 90% of your telegram/discord are scammers and people asking why price is going down/accusations that you and your entire team should go to jail. I'm consistently repulsed by the lack of thoughtful discussion in crypto communities. For a space littered with intriguing technology it's endlessly frustrating that there's no HN-like forum. Instead, any community that start…

> it's endlessly frustrating that there's no HN-like forum There are communities like this, such as the crypto dev discord, the daily gwei discord, ethereum cat herders discord, etc. You're just in the wrong communities. That's like spending time on 4chan and saying "the internet sucks, it's filled with horrible people and no thoughtful discussions."

I do think it's scattered, but certainly there. There are many high-quality and thoughtful Twitter posters but you really have to filter. Meanwhile, I think there is room for a crypto HN since HN is actively hostile to anything positive towards crypto.

Re: Starting a crypto project

#162

Post by chrisco255 »

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?

Thread poster is a Bitcoin maximalist, and thinks all crypto projects that are not Bitcoin are scams.

Re: Starting a crypto project

#163

Post by chrisco255 »

lottin wrote: post #149
proto-n wrote: post #126

Earlier quoted context omitted.

> competent observers would likely consider even that on the high side for a mathematical impossibility If the statement made by Vitalik "There's no proof that efficient classical simulation of QC is impossible" is indeed the case, then it's the linked blogpost that has discredited itself mathematically by treating this as "breaking mathematics" or a "mathematical impossibility". More like groundbreaking surprise, bu…

The element of controversy isn't whether efficient quantum simulation is possible, but the idea that by running such a simulation one would be able to break cryptography, as if they were using an actual quantum computer. This is a talk where he makes this claim https://youtu.be/DkUpZkeqhF4?t=3372 If this isn't crackpottery of the highest degree I don't what is.

A talk from 8 years ago, when he was 18 years old? I mean, even having a semi-half-baked opinion on quantum cryptography at 18 is pretty damn impressive. Just because everything is forever on the internet does not mean that opinions are forever.

Re: Starting a crypto project

#164

Post by noxer »

reedjosh wrote: post #157
noxer wrote: post #142

Earlier quoted context omitted.

>Any wallet could offer the same thing. No, its not a wallet at all its a protocol like TCP but for money. If you are interested go read about it first. There is no point in arguing about something you dont know what it is. >PayPal could offer it Yes, they could but its not lucrative and if it would be they would not be interested in using a public interoperable protocol where everyone can offer the same service and…

> People already pay to not see ads its just cumbersome because every service needs a subscription or pro app or whatever. People will pay if it's a frictionless payment of a small amount reflective of the value gained. Netflix did this with movies, Spotify with music, `crypto with everything?` if the tech and business models are worked out.

Imagine how awesome it would be if you could search for a movie choose the service that current has the best cost/byte ratio for your location (they can make this variable to manage load). Then you start streaming. No registering needed. Not even a login.

After 10 min you notice the film sucks so you stop the stream. You only payed for the first 10 min.

Totally friction-less ofc. You could watch on a random TV anywhere and stream the money from your phone.

Sounds like sci-fi but we have all the key tech needed for this.

Re: Starting a crypto project

#165

Post by chromatin »

Legogris wrote: post #66
fumblebee wrote: post #18

> 2. You aim to build a community, but in reality 90% of your telegram/discord are scammers and people asking why price is going down/accusations that you and your entire team should go to jail. I'm consistently repulsed by the lack of thoughtful discussion in crypto communities. For a space littered with intriguing technology it's endlessly frustrating that there's no HN-like forum. Instead, any community that start…

> Take your pick for where to source your news [actual answers]: 1. Newsletters. One basic example is Bitcoin Optech. I've always been the kind of person who looks at any newsletter just about long enough to put it in Trash. But I've come to understand there are plenty of greatly curated and/or written ones out there. 2. Podcasts. I can recommend Unconfirmed and Zero Knowledge, for example. 3. Discord (I know I miss…

For podcasts I recommend Uncommon Core (technical) and Up Only (which despite the name is not just “up only” shilling and has excellent guests lineups)

Re: Starting a crypto project

#166

Post by chrisco255 »

emmap21 wrote: post #29

From user experience, I personally don't see a strong benefit of crypto. It always looks like a Ponzi Scheme to me. When early users are people driven by greed than productivity, it is a HUGE problem.

I do. I can take out a 6 figure loan in 15 seconds and send it to anywhere in the world (https://aave.com/). I can deploy capital, I can participate in liquidity pooling on decentralized exchanges in a completely permissionless manner (https://uniswap.org/) (impossible unless you're a Wall Street insider in the current system), I can lend out currency at higher market rates to day traders participating in leverage trading (https://dydx.exchange/) (impossible unless I'm a Wall Street insider today), I can mint a derivative of a Tesla stock that follows the price action of Tesla from anywhere in the world (https://www.synthetix.io/). I can trade 24/7. I can play a game, earn in-game swag and trade that on an open marketplace (https://opensea.io/). I can take out crop insurance backed by a smart contract in an African country that lacks a stable legal system or currency (https://www.arbolmarket.com/). I can go on and on...

Re: Starting a crypto project

#167

Post by marton78 »

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…

Not necessarily. For example, https://gains.farm has a valid and novel use case: decentralised (i.e. on chain) leverage trading. Tokens you win are minted, tokens you lose are burnt.

Re: Starting a crypto project

#168

Post by anonymouse008 »

arcticbull wrote: post #118
noxer wrote: post #109

Earlier quoted context omitted.

Sounds to me as if you dont have any "blockchain project" ideas. That's fine do something else. If whatever you every wished to crate does not profit form this tech, it probably really just does not profit form it. Nothing wrong with that. It would be a shame to slap blockchain on a cool project that doesn't need it.

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.

> 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.

Mind helping me with my assumptions??

From what I see, the classical solutions assume the central authority will always exist and provide its services at reasonable prices, that the authority will be benevolent and just, and the central authority is usually single purpose.

Regarding survival, crypto space has a similar assumption that at least some people will run nodes - but I like it's robustness to being 'killed off' because only a few people need to participate in mining or validating.

Regarding benevolence, I think there are plenty of examples of hostility towards users in the payments space specifically.

Regarding single purpose, blockchains are fairly interesting as they allow for any purpose that's signed with the participating parties. Which is a wildly open means of coordination amongst groups -- which is also why blockchains look a lot like currency at outset, because currencies have been the tool for eons to coordinate human efforts.

But looking at it closer, a lot of the world runs on IFFT logic, which seems ripe for smart contracts - the only issue is the interoperability between traditional world and blockchain world to become like Daniel Suarez's Dameon.

Re: Starting a crypto project

#169

Post by noxer »

anonymouse008 wrote: post #168
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.

> 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. Mind helping me with my assumptions?? From what I see, the classical solutions assume the central authority will always exist and provide its services at reasonable prices, that the authority will…

ILP is (could be) the "interoperability between traditional world and blockchain" but only for payment/money/value We dont really know yet what else there might be. NFTs is the current hype but who knows what/if that will turn out to be in the future.

Re: Starting a crypto project

#170

Post by vmception »

fumblebee wrote: post #18

> 2. You aim to build a community, but in reality 90% of your telegram/discord are scammers and people asking why price is going down/accusations that you and your entire team should go to jail. I'm consistently repulsed by the lack of thoughtful discussion in crypto communities. For a space littered with intriguing technology it's endlessly frustrating that there's no HN-like forum. Instead, any community that start…

Its more so frustrating to me that they become tribal by necessity!

You cant discuss flaws in the current design or future design because people think you are attacking their investment!

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