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Worldcoin

worldcoin.org

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Re: Worldcoin

#101

Post by JesseAldridge »

ac29 wrote: post #89
chrisco255 wrote: post #71

Earlier quoted context omitted.

- Create a large number of worthless C-corp shares for a company with zero revenue - Distribute 100% to the founders - Onboard new investors through a series of progressively higher valuations, diluting less and less with each subsequent round - Go public at a lofty, inflated valuation that leaves retail with little to zero chance at producing the 100x gains that early investors got to experience - Profit! Money is s…

> What gives the C-Corp shares value A business is a productive asset. Cryptocurrency tokens are not.

There is value in able to send and receive money more easily.

Re: Worldcoin

#102

Post by 908087 »

I sincerely hate everything about the direction the tech industry is taking society in, and it makes me feel like it may be time to stop being a part of that industry even after giving the last 35 years of my life to it.

Re: Worldcoin

#103

Post by joshspankit »

bradleybuda wrote: post #97
joshspankit wrote: post #93

Earlier quoted context omitted.

Your definition of a business might be a “an organization that produces a product”, but that is not the legal definition. A business can even legally be a bundle of paperwork that owns someone’s nice car. Business (noun) is not a productive asset.

In the rare case that a business actually produces nothing, in bad faith, we call that a scam, and fraud, and people go to jail. The same standard does not exist for "tokens".

Sorry, this perspective is wrong on both counts:

1) There are literally millions of empty and bad-faith businesses that you never hear about because they successfully fly under the radar

2) People definitely (though, to your point: not the general public yet) call out some tokens as being scams. It’s much more of a “wild west” (aka: lots of dirty business going on that no one knows how to identify much less stop), but people in the space can pretty easily tell if a token has integrity or not. Look at Beeple, for example. I think most people who read the story would agree he’s not scamming.

Re: Worldcoin

#104

Post by [deleted] »

esnard wrote: post #76
squidproquo wrote: post #53

I think the overarching idea here makes sense, but the devil is in the details. 1) It's going to be difficult to ensure that the 'Orb' device can't be hacked and allow bad actors to send a bunch of random codes to signup for a Worldcoin. 2) If there are bogus signups how do you deal with reconciliation when there are ID collisions? 3) It's going to take many years for this to get a critical traction and to deploy coi…

Their "how it works" page has a whole section dedicated to your first question: > Spoofing attacks involve presenting the Orb with modified, fake, or non-human irises. For example, an attacker might show the Orb a photo of an iris or an animal iris, hoping to generate a unique IrisHash. To defend against attacks like this, we’ve equipped the Orb with a suite of multi-spectral sensors and custom fraud-detection algori…

[deleted]

Re: Worldcoin

#105

Post by drcongo »

rsynnott wrote: post #99
joshspankit wrote: post #93

Earlier quoted context omitted.

Your definition of a business might be a “an organization that produces a product”, but that is not the legal definition. A business can even legally be a bundle of paperwork that owns someone’s nice car. Business (noun) is not a productive asset.

No-one would buy shares in such a thing, tho. Unless they lied about what it was doing, but, well, ask Elizabeth Holmes how well that's going.

Has Uber made a profit yet?

Re: Worldcoin

#106

Post by knownjorbist »

squidproquo wrote: post #53

I think the overarching idea here makes sense, but the devil is in the details. 1) It's going to be difficult to ensure that the 'Orb' device can't be hacked and allow bad actors to send a bunch of random codes to signup for a Worldcoin. 2) If there are bogus signups how do you deal with reconciliation when there are ID collisions? 3) It's going to take many years for this to get a critical traction and to deploy coi…

What does someone do when their eye vein pattern changes? Does this ever happen? What about someone who loses an eye or has some other eye damage?

Re: Worldcoin

#107

Post by Justsignedup »

agent327 wrote: post #87
Justsignedup wrote: post #45

Earlier quoted context omitted.

hey, what's step 2?

"marketing!" It's always marketing, on the missing dots in this kind of list. Otherwise people don't know where they can buy whatever it is you are selling. Underpants, apparently, in this case.

oh my god! this changes everything. If only the kids knew!

Also you're so very right.

Re: Worldcoin

#108

Post by kybernetikos »

paisawalla wrote: post #62
walrus01 wrote: post #2

> ensuring that every person on Earth can prove that they are indeed human >To address it, we built a new device called the Orb. It solves the problem through biometrics: the Orb captures an image of a person’s eyes I'm sure absolutely nothing can go wrong with this at all . Wow. I hope this is satire. Imagine what a major nation state intelligence agency could do with a data set of globally-unique eyeball vein patte…

It seems to me that there are some not-uncommon diseases that could affect this, e.g. if someone develops macular degeneration, do they lose their savings? Or can they double their coin share? What is the state of the science behind retinal-imaging-as-authentication? Are these patterns truly known to be stable over the course of a person's life?

> if someone develops macular degeneration, do they lose their savings

The irishash is used to get an initial airdrop, not to access funds/make transactions later.

But since equality seems a key principle, I am wondering how they'll deal with people without eyes.

Re: Worldcoin

#109

Post by neilk »

1. Why the orb?

So they say it’s about UBI, but… what’s wrong with the ways we establish human-ness now?

Usually it’s a combination of national ids, photo ids (also a kind of biometric) and respected persons like doctors or licensed engineers attesting you exist. No one method is dominant, which has its privacy benefits.

The eyeball scan, plus the cryptoasset incentive, seems like a strategy that could place this company as a very dominant broker of human-ness. Regardless of whether WorldCoin becomes a useful financial token.

2. What’s even good about the Orb versus something more boring

So the orb bootstraps a user into having a private key. So I have all the same privacy difficulties of managing my own key, don’t I? It’s not like I can pay for things with my eyeball.

So if we have special licensed operators, with controlled hardware, why not generate a key randomly with that hardware?

Presumably they have provisions for transitioning you to new keys when your iris changes, so… if that is done by a controlled hardware and a licensed orb franchise, why not just use regular national or photo ID methods, sign that data with the Orb-station’s private key, and we’re done?

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