Crypto: The Good, the Bad and the Ugly • Hacker News Board

Re: Crypto: The Good, the Bad and the Ugly

#41

Post by smaudet » Thu, Jan 06, 2022, 7:44 AM UTC

notch656a wrote: post #24

namdnay wrote: post #23

Earlier quoted context omitted.

so what, taxes now become a voluntary contribution to whatever charity you want to donate to? And you don't see any scale issues with that?

>taxes now become a voluntary contribution to whatever charity yes >And you don't see any scale issues with that? No. I see it vastly superior as private competition ensures people can donate to charities they find most effective, rather than monopolized government with little incentive for efficiency.

We tried private ambulances and that is an ongoing disaster, what you are describing is a personal army or guard, look at history to see the plethora of problems with those...

Not that Police are perfect, far from it, but I'd rather a force I can sue in court and protects me from my enemies even if I'm broke than a private militia.

You could have Police-As-Contractors I guess but unless that comes with some legal innovations that just adds another layer of bureacracy.

Objectively terrible idea.

Re: Crypto: The Good, the Bad and the Ugly

#42

Post by mantenpanther » Thu, Jan 06, 2022, 7:45 AM UTC

andy_andy_ wrote: post #37

mantenpanther wrote: post #29

NFTs in the current form might be pretty useless as such (just a proof you "first purchased" a jpeg). But I think in the gaming space this will become huge and actually makes sense - use elements (items, characters, stats,...) and their history in different and independent games if the developer wants to integrate them. No lock-in and portable, not tied to game-specific accounts.

this runs into the boundary issue, though. getting your hat asset you bought in HatWars into your Garden Town save file isn’t trivial. the two games’ developers need to use the same assets or one needs to remake the asset. it’s cool for the player but work and money for the developers that i’m not sure provides them much value

NFTs don't have to be (are not) the asset, just parameters/stats and the graphical representations can look different according to the game.

Re: Crypto: The Good, the Bad and the Ugly

#43

Post by jayd16 » Thu, Jan 06, 2022, 7:45 AM UTC

mantenpanther wrote: post #29

NFTs in the current form might be pretty useless as such (just a proof you "first purchased" a jpeg). But I think in the gaming space this will become huge and actually makes sense - use elements (items, characters, stats,...) and their history in different and independent games if the developer wants to integrate them. No lock-in and portable, not tied to game-specific accounts.

I can't help but think that if this was feasible and desired we'd have working examples of it even if tied to game accounts.

If you're writing a game and trusting data from another game...you have a trusted authority and you can just use traditional apis, no?

Re: Crypto: The Good, the Bad and the Ugly

#44

Post by meheleventyone » Thu, Jan 06, 2022, 7:49 AM UTC

mantenpanther wrote: post #36

meheleventyone wrote: post #32

Earlier quoted context omitted.

> if the developer wants to integrate them What’s the incentive for the developer to do this? And more importantly how does my M4 rifle work in an epic fantasy role playing game?

There might be many, this is a new field. A starter would be an existing userbase holding NFTs that enter the game. Different forms of monetarization (entering with NFTs, storing progress on the NFTs, marketplaces,...) might be a thing.

There might be none as well, this is a new field.

The problem with your first suggestion is that you do an awful lot of work to map another games NFTs to your own items but presumably get none of the money from them. You also have an immediate balancing problem. And the better way is to just make a game that those players want to play, which is how game populations move around now anyway. The only way I can see supporting external NFTs as worthwhile for a game developer is if they’re already table stakes for taking part.

Or say you support BAYC, all that work to address 10k potential users?

Re: Crypto: The Good, the Bad and the Ugly

#45

Post by yed » Thu, Jan 06, 2022, 7:49 AM UTC

Reichhardt wrote: post #3

The current fiat system (and the Governments that control it) are completely enslaved to the welfare (pension) and healthcare demands of baby boomers. These demands will only multiply as the populations age, until eventually consuming the host. You can already see this in countries like Italy, which are now in demographic death spirals. If we can craft a new financial system without spending 15%+ of our GDP and risin…

Governments collected taxes on cash and non-fiat for millenia (and still do so), they will have no issues taxing crypto if they need to.

Re: Crypto: The Good, the Bad and the Ugly

#46

Post by vicda » Thu, Jan 06, 2022, 7:50 AM UTC

notch656a wrote: post #24

namdnay wrote: post #23

Earlier quoted context omitted.

so what, taxes now become a voluntary contribution to whatever charity you want to donate to? And you don't see any scale issues with that?

>taxes now become a voluntary contribution to whatever charity yes >And you don't see any scale issues with that? No. I see it vastly superior as private competition ensures people can donate to charities they find most effective, rather than monopolized government with little incentive for efficiency.

This means people will mostly give their money to the loudest charities that spend the most on marketing, not on their actual effectiveness. Boring yet important projects will get almost nothing with this model. Don't make the economist mistake of assuming that people are perfectly rational actors.

Re: Crypto: The Good, the Bad and the Ugly

#47

Post by sneak » Thu, Jan 06, 2022, 7:51 AM UTC

astoor wrote: post #26

The author believes "a Twitter where your popular tweets earn you money" would be a good thing? Twitter is already full of people trying to shout the loudest - how can adding a financial incentive to shout even louder make things better rather than worse?

People willing to pay for quality content is always a good thing for content authors. By nature of their willingness to pay, it's a good thing for content consumers (otherwise they wouldn't do it).

Nobody requires anyone to use any website that they don't want to (except perhaps irs.gov). You are always free to ignore it, like you are free to ignore Twitter.

Giving people more options rarely makes the world worse.

Re: Crypto: The Good, the Bad and the Ugly

#48

Post by sjtindell » Thu, Jan 06, 2022, 7:51 AM UTC

Easily the best take posted here in a while. These are money games. And if you think this will be a minor sector of the economy, look at Wall Street - there is huge demand for these types of games, and that's when only people with $1+ million in net worth can really play. Now anyone can play, at the same time that traditional paths to wealth are stagnating or closing off completely.

Re: Crypto: The Good, the Bad and the Ugly

#49

Post by notch656a » Thu, Jan 06, 2022, 7:51 AM UTC

mathnmusic wrote: post #40

notch656a wrote: post #24

Earlier quoted context omitted.

>taxes now become a voluntary contribution to whatever charity yes >And you don't see any scale issues with that? No. I see it vastly superior as private competition ensures people can donate to charities they find most effective, rather than monopolized government with little incentive for efficiency.

Is there a single economy that demonstrates this working effectively without taxes?

No post body was provided.

Re: Crypto: The Good, the Bad and the Ugly

#50

Post by drmanachin » Thu, Jan 06, 2022, 7:53 AM UTC

meheleventyone wrote: post #32

mantenpanther wrote: post #29

NFTs in the current form might be pretty useless as such (just a proof you "first purchased" a jpeg). But I think in the gaming space this will become huge and actually makes sense - use elements (items, characters, stats,...) and their history in different and independent games if the developer wants to integrate them. No lock-in and portable, not tied to game-specific accounts.

> if the developer wants to integrate them What’s the incentive for the developer to do this? And more importantly how does my M4 rifle work in an epic fantasy role playing game?

No post body was provided.