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The Edited Latecomer’s Guide to Crypto

mollywhite.net

241–250 of 331 posts

Re: The Edited Latecomer’s Guide to Crypto

#241

Earlier quoted context omitted.

Using NFTs for generating concert tickets or supply chain logistics & tracking seems like it could be economically viable. I'd bet the biggest use case for NFTs at present is money laundering. It's hard to imagine someone having the talent to acquire $800,000 yet still being gullible enough to spend it all on a hyperlink of a hand drawn monkey with the expectation that they bought an appreciable asset.

Doesn't make much sense for concert tickets, unless you want to enable scalping. The lifetime of a ticket is short.

There are people starting to use NFTs for tickets precisely to circumvent scalpers and allow a legitimate secondary market to exist in which the primary artist benefits from resales. There are real reasons for a secondary market to exist (eg you've got concert tickets and suddenly get sick and can't go or something) the problem right now is that the existing secondary market is broken so prices are insane for the real fans and the artist themselves don't see any of the revenue.

Additionally, with NFT tickets you can add utility to them after the event. "You went to my concert, now you can get into a special channel on my discord/get early access to my album etc". These are things which are easy to do with NFTs that are operationally complex or expensive to do with conventional tickets.

Re: The Edited Latecomer’s Guide to Crypto

#242
post #236
post #228

Earlier quoted context omitted.

It obviously isn't cash, it isn't even money - that's the reason the amount received is stated in something else, namely dollars, which this has to be exchanged into to be useful. What happened here is a wire transfer, not different from me sending money from my bank account to someone else bank account. Just with two additional transformation steps (make money into whatever crypto, make whatever crypto back into mon…

It is very different than you sending money via an intermediary bank. I dare you to describe a method of wire transfer to Kyiv that works in that quantity and timescale and is practically usable by the recipient that quickly and cannot be blocked by your local government's policies. There simply isn't anything close to that. People that think that this is the same as a wire via a regulated bank are ignorant of the sp…

None because if it was a high quantity method it would get regulated or banned by society

The regulations exist for a reason. The reason crypto do not have them is because there is no quantity.

Not because it is magically immune to existing in societies

Re: The Edited Latecomer’s Guide to Crypto

#243
post #5

This format is interesting at first but when it starts getting to 5 paragraphs of dissecting each phrase, it gets too much. Reminds me of the someone-is-wrong-on-the-internet, point-by-point-repliers in internet forums circa 2006.

True. It made me feel like microanalyzing one of their comments. Here goes: On: > What I couldn’t find was a sober, dispassionate explanation of what crypto actually is — how it works, who it’s for, what’s at stake, where the battle lines are drawn — along with answers to some of the most common questions it raises. They left this comment: > No technology is "sober" or "dispassionate" in its creation, nor is it neutr…

You can explain on a technical level how the Iron Dome fulfills it's functions. You cannot explain it's social and economic ramifications without talking politics. Most of the arguments in favour of cryptocurrencies and blockchains focus on these economic and social factors (decentralised economy, NFTs for selling ones art). The technical merit of blockchain gets discussed so often, the outcome is always either "existing technologies solve this problem better" (which makes discussing the technical merit outside of a academic context futile) or "look at these economic and social improvements this technology provides" (which puts you squarely back into the political discussion).

Re: The Edited Latecomer’s Guide to Crypto

#244
post #22

Earlier quoted context omitted.

In the Hacker News bubble, working for anywhere is a negative on your CV. Amazon treats its warehouse employees badly, Google creates a surveillance state and bows to authoritarians, Facebook drives engagement with hate/dissent, AirBnB is causing a housing crisis by turning long term rentals into short term rentals, Apple has Chinese sweatshops, Netflix and Spotify run controversial content, Uber/Doordash/Lyft/Instac…

I’m basically a Stalinist relative to the community here, but among those listed, only Uber and Facebook would fall into don’t-work-for-them-territory. The others are regularly criticised to varying degrees, but that doesn’t mean it’s impossible to work there for people somewhat conscious of their conscience. It comes down to the question “can you honestly expect to have an impact on the organisation, or is it more l…

How much do engineers really have to do with the (bad) business of a company? Facebook has a high technical standard even if you question their societal impact, for Amazon I'd be concerned about the cliche backstabbing culture.

Disclaimer: I worked at Uber in the past

Re: The Edited Latecomer’s Guide to Crypto

#245

I gave the original NYT article a read when it was published and I have no idea how it could have been approved outside of the opinion section. Really shameful to present the obviously pro crypto piece as neutral or informational and I have only two explanations: - ancient editorial staff approved it because they really don't understand crypto or - there's some kind of market for front page real estate

I wrote the same two points in the comments of the article when it was published. I'm really disappointed with the NYT, having subscribed just a week before.

Re: The Edited Latecomer’s Guide to Crypto

#246
post #238

Earlier quoted context omitted.

People always say the same thing when someone is critical of crypto. Its too early! I mean after all, we are only 13 years in. Or: there is a lot of bullshit but the interesting things are outside of your echo chamber. But then never link to such counter examples. At best people talk about filecoin, which does pass the bar of not being a literal scam, but still makes no sense from a product-market fit (storage has 3…

> Its too early! I think most critics of crypto come into the conversation with a "crypto is bad, and so I must find ways to reinforce this belief", and it's relatively obvious that the critic doesn't have the perquisite knowledge to craft a critique that can be responded to easily. Specifically, a critic might say "the set A is bad". The critic is under the assumption that the set A is small, perhaps a few items, an…

> it's relatively obvious that the critic doesn't have the perquisite knowledge to craft a critique that can be responded to easily.

Funny. My usual assumption is that if someone makes an argument that i don't have a comeback to, its that i am wrong. Typically lack of knowledge makes it easier, not harder to respond.

Hell, its things like this that make crypto sound like a cult. I.e. that the primary failure of doubters is that they haven't been suficiently indoctrinated and if they just let our lord and saviour satoshi into their heart they would see the light.

> The critic operates under the assumption of maybe 4/5 items are bad, and the defender is operating under the assumption that 4/100,000,000 are bad.

This isn't a numbers game. To show "crypto" is a good approach, you have to show some generic ideas that are useful in multiple contexts. Nobody cares how many failed projects there are. Its the successes that matter.

Right now you basically have "currencies" if i am being generous. Everything else is stuff that doesn't make sense and would have zero adoption if not for the massive hype train.

> If you assume the space has been fully searched, then its safe to stand back and critique. However, many folks conducting the search see much farther than you do, and see the entirely unexplored space as quite large.

I don't think anyone believes this.

If your position is that the crypto space is currently useless, but its possible that someone at some point may make a breakthrough which changes things, i think most critics would agree.

The breakthroughs that are needed to make things interesting are even pretty obvious. E.g. Efficient (much beyond the current generation) general purpose zero knowledge proofs of computation, efficient fully homomorphic encryption. If these things happen, i would find the space a much more interesting one. However these are hard problems - progress is being made but we are still nowhere close. Until then its not an interesting space.

Its sort of like if someone was doing things that required fast solutions to np complete problems, and countered criticism by saying we dont know that np!=p, maybe someone will find an algorithm. They are not wrong, but they aren't compelling either.

> a bunch of examples

Seem mostly about doing things you could just as easily do without blockchain. Except maybe helium which does sound like it has a story for why it needs to use these technologies.

> It's also worth noting that we _can't_ use S3, or traditional cloud hosting, which therefore adds a new metric for us to judge storage on: decentralization.

Genuinely curious - why not? Is it just for ideological reasons or is there an actual use case preventing you?

Re: The Edited Latecomer’s Guide to Crypto

#247
post #226

Earlier quoted context omitted.

People always say the same thing when someone is critical of crypto. Its too early! I mean after all, we are only 13 years in. Or: there is a lot of bullshit but the interesting things are outside of your echo chamber. But then never link to such counter examples. At best people talk about filecoin, which does pass the bar of not being a literal scam, but still makes no sense from a product-market fit (storage has 3…

https://www.coindesk.com/business/2022/03/09/ukraine-has-rec... This happened primarily in a matter of hours. In cash. Across borders. Without being subject to sanctions or restrictions by any country. It may not be your use case, but it has definitely "put up".

Ah yes. Desperate people in need have received a bunch of fantasy novelty tokens that they are going to use... how exactly?

Re: The Edited Latecomer’s Guide to Crypto

#248
post #238

Earlier quoted context omitted.

People always say the same thing when someone is critical of crypto. Its too early! I mean after all, we are only 13 years in. Or: there is a lot of bullshit but the interesting things are outside of your echo chamber. But then never link to such counter examples. At best people talk about filecoin, which does pass the bar of not being a literal scam, but still makes no sense from a product-market fit (storage has 3…

> Its too early! I think most critics of crypto come into the conversation with a "crypto is bad, and so I must find ways to reinforce this belief", and it's relatively obvious that the critic doesn't have the perquisite knowledge to craft a critique that can be responded to easily. Specifically, a critic might say "the set A is bad". The critic is under the assumption that the set A is small, perhaps a few items, an…

Doesn’t something like strangemood dot org, with a logo and a website and a name and a foundation contradict Vitalik’s original idea behind Ethereum i.e. that people kept trying to build Swiss army knives on top of different protocols and it made the whole thing brittle?

Why, as a counter example, can’t a game developer/studio deploy a contract which allows people to mint a token in order to purchase the game?

Re: The Edited Latecomer’s Guide to Crypto

#249

Earlier quoted context omitted.

Doesn't make much sense for concert tickets, unless you want to enable scalping. The lifetime of a ticket is short.

There are people starting to use NFTs for tickets precisely to circumvent scalpers and allow a legitimate secondary market to exist in which the primary artist benefits from resales. There are real reasons for a secondary market to exist (eg you've got concert tickets and suddenly get sick and can't go or something) the problem right now is that the existing secondary market is broken so prices are insane for the rea…

None of this requires blockchains or NFTs. And all of these "use cases" have been done successfully for literally thousands of years.
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