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Re: Sci-Net

#81

Post by eimrine »

Retr0id wrote: post #77
beeflet wrote: post #66

This is gonna be a disaster. They would have been better off using an existing cryptocurrency instead of rolling their own. The problem with these "meme tokens" is that they are typically designed with terrible tokenomics that benefit the creator. And even worse, this has no anonymity, so the users are gonna get busted for using it. > The only downside is that obtaining Sci-Hub tokens on the Solana network can be a n…

> designed with terrible tokenomics that benefit the creator Isn't benefiting the creator an explicit purpose/benefit of this system? (i.e. to fund the continued operation of sci-hub)

Benefiting the system is way more imporltant.

Re: Sci-Net

#82

Post by beeflet »

Retr0id wrote: post #77
beeflet wrote: post #66

This is gonna be a disaster. They would have been better off using an existing cryptocurrency instead of rolling their own. The problem with these "meme tokens" is that they are typically designed with terrible tokenomics that benefit the creator. And even worse, this has no anonymity, so the users are gonna get busted for using it. > The only downside is that obtaining Sci-Hub tokens on the Solana network can be a n…

> designed with terrible tokenomics that benefit the creator Isn't benefiting the creator an explicit purpose/benefit of this system? (i.e. to fund the continued operation of sci-hub)

Yes, but that should be done in a way more transparent way (donations, fees, etc.) than manipulating the tokenomics of the coin out from under you.

Re: Sci-Net

#83

Post by Retr0id »

beeflet wrote: post #82
Retr0id wrote: post #77

Earlier quoted context omitted.

> designed with terrible tokenomics that benefit the creator Isn't benefiting the creator an explicit purpose/benefit of this system? (i.e. to fund the continued operation of sci-hub)

Yes, but that should be done in a way more transparent way (donations, fees, etc.) than manipulating the tokenomics of the coin out from under you.

I thought the taxation vs inflation point you made in an earlier edit of this comment was a good one, did something make you change your mind to remove it?

Re: Sci-Net

#84

Post by PeterStuer »

KingOfCoders wrote: post #36
setgree wrote: post #27

Earlier quoted context omitted.

If there was every a ready-made use case for crypto, it's this. Alexandra Elbakyan is both a criminal in most places and a hero to many [0]. I want her to keep doing what she's doing, and that means someone probably has to pay her to do it. The whole point of Bitcoin is to make money permisionless, i.e. the right tool for this particular job. [0] https://www.science.org/content/article/frustrated-science-s...

Send her money in an envelope if you want to pay her.

How would I know she could collect it?

Re: Sci-Net

#85

Post by beeflet »

eimrine wrote: post #80
beeflet wrote: post #66

This is gonna be a disaster. They would have been better off using an existing cryptocurrency instead of rolling their own. The problem with these "meme tokens" is that they are typically designed with terrible tokenomics that benefit the creator. And even worse, this has no anonymity, so the users are gonna get busted for using it. > The only downside is that obtaining Sci-Hub tokens on the Solana network can be a n…

At least rolling their own crypto might give the project their own hosting. But if their crypto is Solana, it does not count.

The new trend of starting a "token" on top of some PoS cryptocurrency greatly saddens me.

Back in the old days, you would have to actually start your own cryptocurrency (like Dogecoin) every time you wanted to sell some worthless token. Not only did this result in more technical diversity of cryptocurrencies, but if you got enough people together you could do a 51% attack and take malicious projects off the network.

Nowadays, this would never work. Even if they couldn't hitch a ride on another cryptocurrency, they would just use PoS and with a premine it's basically classical consensus.

Re: Sci-Net

#86

Post by aleph_minus_one »

beeflet wrote: post #73
Mistletoe wrote: post #37

Earlier quoted context omitted.

Crypto is money in the future. You may as well have asked why must money infect everything that is good. Money is condensed time, the most valuable commodity in the universe.

A lot of bitcoiners like to fool themselves into thinking that bitcoin is some form of energy. That's not the case: you can turn energy into bitcoins, but not bitcoins into energy. In the same manner you can turn time into money, but not money into time. The most valuable thing in the world is actual time. Money is just a poor man's substitute.

> you can turn energy into bitcoins, but not bitcoins into energy

Use bitcoin to pay your energy bill (e.g. gas, electricity, ...).

> In the same manner you can turn time into money, but not money into time.

Partially, you can:

- Hire a maid to do household chores instead of having to do them yourself

- Hire employees that do various aspects of your daily job

- Buy some expensive medical treatments that give you a few more years

- Buy healthy stuff, and have a healthy lifestyle; invest money in your wellness

- Less of a necessity to work lots of hours a day, i.e. have more free time

Re: Sci-Net

#87

Post by beeflet »

Retr0id wrote: post #83
beeflet wrote: post #82

Earlier quoted context omitted.

Yes, but that should be done in a way more transparent way (donations, fees, etc.) than manipulating the tokenomics of the coin out from under you.

I thought the taxation vs inflation point you made in an earlier edit of this comment was a good one, did something make you change your mind to remove it?

No, I just thought it was too long and distracted from my initial point. I can't edit it back, but for anyone else interested it was like this:

"In the same way it's better to fund public services by taxing things directly than by inflating the currency because it's easier to manipulate the metrics for inflation than to manipulate direct taxation, and the taxpayer ultimately needs to make sense of what they're paying for in a democracy."

Re: Sci-Net

#89

Post by stavros »

freeone3000 wrote: post #38
jsheard wrote: post #32

Earlier quoted context omitted.

Even if crypto is the only viable way to do this, doing it with their own memecoin instead of something that's already well established is a massive red flag. That means they can easily pre-mine vast amounts of their token for effectively nothing and then cash out by selling them all at once when the price peaks. Textbook shitcoin rug-pull.

Isn’t that… also good? If you want to fund the project, isn’t that a very good way to send someone(the organizers of the shitcoin) money in an efficient and untracable way? The indirect market forces avoid the downfalls of Monero (not accepted) and direct BTC transmissions (traceable), and since it’s a pre-mine, it avoids the “splash damage” of a more common commodity. Doing a sci-hub pump-and-dump is almost ideal as…

Yeah but it's kind of like if I'm buying a Sci-Hub gift card, or loading my Sci-Hub wallet with some balance. If you want anonymity, use Monero, it would have solved all the issues here. Sci-hub could even take a cut, which personally I'd have no objections to.

Re: Sci-Net

#90

Post by stavros »

troyvit wrote: post #56
NoMoreNicksLeft wrote: post #40

Earlier quoted context omitted.

>The whole point of Bitcoin is to make money permisionless, i.e. the right tool for this particular job. May have been true long ago, but when speculators are hoping to get rich-quick holding bitcoin for another n months, no one's going to spend it. Bitcoiners ruined bitcoin. It's not the right tool for anything, other than maybe paying traceless bribes to Congressmen.

Yeah I would love to hear from people who know what _would_ be a better coin to use than a) Bitcoin and b) your own meme-coin.

I agree about Monero, it's anonymous, fungible, and has low fees and high speed.
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