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Starting a crypto project

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Re: Starting a crypto project

#191

Post by baby »

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…

Heh, I think that ship has sailed and it’s a waste of time to argue over the real meaning “crypto” should have

Re: Starting a crypto project

#192

Post by noxer »

arcticbull wrote: post #178
noxer wrote: post #164

Earlier quoted context omitted.

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 anywhe…

It sounds not very compelling. Id rather give Netflix $50/mth and not worry about any of that. [edit] not to mention, content creators don't price their movies in dollars per byte haha, they price it based on what they think people will pay. This is part of the reason all you can eat is much more enjoyable.

I think you didn't get the bigger picture. Its not for streaming a movie is for everything on the web. Why would you pay 50 for Netflix if you can just consume content wherever you want for 50 bucks instead. They can still offer you a flat rate if they want. The option to pay what you use doesn't take the option to pay upfront or whatever away. There is no doubt they will lure you into using the same service somehow but that's kind irrelevant. The goal is to have the choice and that you can pay/support the small fishes too. The one you would never make a subscription for. Same with donation. You probably dont have Wikipedia or hacker news subscription. But leaving a few cents for free content ever month would probably be a good idea to keep it free.

Its not "all you can eat" is "you can eat where you want" you never missed that because it was always like that you never needed a subscription for certain food or restaurant chains. You just go and eat wherever you want and they all expect you to pay what you ordered or whatever deal they offer. This system makes it far more likely you go eat somewhere new and far more likely that you eat spaghetti where you like it the most and pizza somewhere ease. Web content should work the same.

Re: Starting a crypto project

#193

Post by jaggs »

arcticbull wrote: post #185
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…

> Don't you think there are tons of people out there who would rather not annoy their visitors with ads? No, I don't. I mean I think they would if it didn't cost them anything but I firmly believe when given the decision between being vaguely annoyed by ads vs. ponying up the cash, they'll do the former substantially all the time. Nick Szabo has a great paper on it. [1] Trust me when I say this is almost certainly th…

Cough...Patreon.

Re: Starting a crypto project

#194

Post by [deleted] »

vmception wrote: post #170
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!

[deleted]

Re: Starting a crypto project

#195

Post by jude- »

chrisco255 wrote: post #166
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 leverag…

The unspoken truth here is that defi tokens all worthless until you cash out, and that leaves a paper trail. Hope you paid your taxes on those trades!

Re: Starting a crypto project

#196

Post by jude- »

He forgot a point: exchanges are the house, and the house always wins.

Want your token to be traded on an exchange? You'll pay a fee, you'll do all the integration legwork for them pro bono, and then they'll skim money off of all the trades on your token in perpetuity.

Re: Starting a crypto project

#197

Post by eppsilon »

munchbunny wrote: post #159
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…

As someone who works on stuff that involves cryptography but not cryptocurrency, I agree, but at this point I consider it a lost cause. Cryptocurrencies have taken over so much of the popular imagination that even when I say "cryptography" I get responses like "oh you mean like Bitcoin?"

Kind of like when you use the word "hacker" (as in HN) with a non-technical person. They always assume you mean the black hat kind.

Re: Starting a crypto project

#198

Post by arberx »

jude- wrote: post #196

He forgot a point: exchanges are the house, and the house always wins. Want your token to be traded on an exchange? You'll pay a fee, you'll do all the integration legwork for them pro bono , and then they'll skim money off of all the trades on your token in perpetuity.

Thankfully there are now DEXs which are super cool.

uniswap.org

Re: Starting a crypto project

#199

Post by noxer »

mtnGoat wrote: post #187
noxer wrote: post #128

Earlier quoted context omitted.

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…

Re: coil.com, what they do is entirely possible on a centralized system. cam sites have been using token based internal payment systems based on minutes viewed, tips, etc at sub $0.01 levels for 20+ years now. and until the tubes came along, all sides profited handsomely. source: i helped build some.

That not what coil does.

Coils is just payment provider for web monetization. You can use another (probably none exist so far) and more importantly you can use web monetization outside of coil owned platforms.

The cam site thing maybe look similar on the surface but its not. It only works in very limited full controlled closed system. It can not scale to the web. You would need 100+ subscriptions in the end that not the goal. Or you would need one overlord that has the monopoly on web monetization and everyone is forced to use g$$gle. Obviously bad for all kinds of reasons like privacy, competition, censorship etc etc.

Web monetization puts a payment pointer into the HTML meta tag The browser reads this and streams money there. See https://webmonetization.org/docs/getting-started

Re: Starting a crypto project

#200

Post by chrisco255 »

jude- wrote: post #195
chrisco255 wrote: post #166

Earlier quoted context omitted.

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 leverag…

The unspoken truth here is that defi tokens all worthless until you cash out, and that leaves a paper trail. Hope you paid your taxes on those trades!

I'm not cashing out, I'm staying in the Ethereum ecosystem for good. And no they're not worthless. USDC for example, is literally exchangeable for $1. I can literally take out a six figure loan against crypto holdings and buy a house with it. I can also pay off high interest credit card debt and earn yield at the same time. All the other tokens are liquid and exchangeable 24/7.
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