291–300 of 318 posts
'"Tokens align network participants to work together toward a common goal — the growth of the network and the appreciation of the token." That's great if what you're trying to do is create an ecosystem of tokens that appreciate in value all the time. What percentage of systems can be modeled that way?' That's the problem. "An ecosystem of tokens that appreciate in value all the time". The perpetual motion machine of…
2021? That ship has sailed.
I don't understand how any take on crypto can not mention that it is now the de-facto currency of online black markets, from pornhub to silk road 9.0 or whatever version we're up to. This is crypto's utility and the only thing I've seen crypto being used for seriously that isn't speculation. Cryptocurrency is disrupting the black markets the same way amazon/ebay/online shopping disrupted the retail markets. Crypto is…
That's what I'm always saying too. Crypto is used for two things: criminal activities and convincing others to buy into your crypto so your crypto portfolio increases in value. The second thing can also be considered a criminal activity because it is _literally_ a pyramid scheme. Not "almost" or "something like", but by definition it is a pyramid scheme. The second thing is that crypto or "defi" enthusiasts go on rav…
Different really.
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>> That's the logic of a Ponzi scheme No, that's not the logic of a Ponzi scheme. Crypto is not a Ponzi scheme. Ponzi promised a 100% return on investment in 90 days. He got money from 15,000 investors. He needed 30,000 investors in 90 days to pay off the original 15,000. By the end of the year he would have needed 240,000 to keep the scheme going. By the end of 5 years he would have needed 16 billion investors. Cryp…
Amazon stock represents ownership of a company and gold has both utility and intric beauty. They are demonstrably valuable
So? It doesn't pay a dividend. The only way people have made money off of that over the last 14 years is to sell the stock to someone willing to pay more for it than they did. Well I guess you could loan it to a short seller, but for the most part, it has just been a purely speculative asset, same as crypto.
>> gold has both utility and intric beauty
Crypto has utility as well, as the parent post pointed out. Many people suspect that for both gold and crypto, their utility value is tiny compared to their speculative value.
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You have a credibly neutral place to store the items, publicly accessible to any other developer to leverage without having to maintain you're own endpoints and documentation. Baked in royalties. Sounds... much easier than the convoluted solution you propose with standard tech.
Steam already has an inventory service, trusted by millions of players to store billions of items. There is already machinery for users to authorise applications to see their inventory. If a game developer wanted to allow use of another game's inventory in their own game, they could already do this.
I don't understand how any take on crypto can not mention that it is now the de-facto currency of online black markets, from pornhub to silk road 9.0 or whatever version we're up to. This is crypto's utility and the only thing I've seen crypto being used for seriously that isn't speculation. Cryptocurrency is disrupting the black markets the same way amazon/ebay/online shopping disrupted the retail markets. Crypto is…
> the only thing I've seen crypto being used for seriously that isn't speculation When paying for domain names or VPS (or anything online, but those are the cases where it's easy), I prefer paying with crypto because I don't want to give my credit card information to some stranger so they can misuse or lose it. This is not illegal and a legitimate use case.
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If there is no way to enforce the NFTs, then they are useless. If someone is enforcing the NFTs then that someone could just as well store the data in some SQL table, since there is exactly 0 decentralisation in that case
There is also not really a way to enforce a physical concert ticket, but with a NFT, the owner can prove ownership and authenticity of the ticket (for example when re-selling a ticket), without relying on collaboration of the issuer of the ticket. The issuer can show that they created a fixed number of tickets and are not over-selling the event.
But there is no way to prove that the issuer is actually the person who "owns" the event. This all goes back to the oracle problem: Unless the proof exists on-chain (like the currency value of a public key), it is useless; there is still an "oracle" outside the chain that must provide the proof.
This is why NFTs are not useful.
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By that time the coin would have crashed 30% more
why wouldn't you just leverage a stable coin if you are looking for speed? The slowest part of this are the banks and the clearing houses. They essentially "trust" other institutions to a certain extent and vouch for the money until it officially arrives on the books. You should read up on FedNet if you are worried about volatility there are less volatile options inside of crypto
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Hawala clearly solves a problem - the very fact of its existence is proof of that. Crypto solves the same problem.
The problem Hawala solves is turning currency at one end into spendable cash (probably denominated in a different currency) at the other end Crypto doesn't solve this (except in very limited circumstances where recipients can buy everything they need with crypto). It's just a layer in the middle, and as it's a layer which requires additional exchanges, it's not more efficient except where it provides a loophole in fo…
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why wouldn't you just leverage a stable coin if you are looking for speed? The slowest part of this are the banks and the clearing houses. They essentially "trust" other institutions to a certain extent and vouch for the money until it officially arrives on the books. You should read up on FedNet if you are worried about volatility there are less volatile options inside of crypto
It's funny watching crypto boosters realize there are actual benefits to institutional trust that are superior to cryptographic trust. These allow for high liquidity and allow participants to capture gains (or losses) practically in real time.
I don't "boost" crypto. I disagree that crypto is how we should buy our lattes.
If you live in a country where financial independence and control is not a reality this could be something greater than the corrupt system you are trying to extricate yourself from.
There is rampant corruption in crypto and although I feel easier to see, still a dangerous investment vehicle.
Is this the thing that changes the world? I think it did in some ways already. Is it the final iteration? I doubt it.
As a first cut, I am wholly impressed and I believe it can create something different.
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How do you wanna ban it? Break my fingers so I can’t run some open source software? Break my hardware so It can’t Hash, cut my power? Arrest me for doing math? The battle is between the libertarians and the authoritarians. The authoritarians want to ban things they don’t understand. They want to bully others with their choice of how they use energy. They want the state boot stomping on the face of humanity forever. B…
It's amazing that this is being downvoted. Such a simple and straightforward argument and instead of having it they'd rather hide it. I wonder why.
Not saying banning crypto is the answer, just saying this is reductive and flawed as an argument