151–160 of 383 posts
But I think all the proponents of stronger algorithmic decentralization ignore the fact that the web doesn't quite live in a vacuum, and "real world" power will mostly like be translated into virtual/web power as well, and the decentralization will just make it less transparent, and with even less accountability.
I really like the idea of being able to "git clone" your data/website into your own local browser and just make it's own webserver. For most of content we generate, that would probably be enough.
I don't see the point of trying to place everything in a blockchain. I understand the power (and need) to decentralization though.
And I'm not sure just one tech/coin/protocol/chain will be enough, but maybe if we pack:
- a P2P browser, with a wallet for authentication+payment (abstracting money away together with authentication is a near idea)
- a versioned content manager that make it easy to pull/push from/to peers
- ways to P2P nodes to sign their own content and give permission or not to peers to read/write, so we can trace ownership through version logs
- a way to run serverless functions to share computational power, but only for complex tasks like ML training, rendering, etc
- a way to automatically (and collectively) parse in-browser data to add annotations (bringing semantics to random data, or labels to ML datasets)
- automate renderers of such data to create (and host) 2D websites, data visualizations, or 3D content (you can call it your own miniverse)
Or what I just described is the Web we're already building, we just need more hands on deck to actually build it instead of wasting our time with bs.
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How is Bitcoin inflationary? Even without coin lossage (a ridiculous concept in any other financial system, short of literally setting your money on fire), the network is programmed to eventually stop minting coins. Fixed supply on increased demand (if it’s the economic substitute we’ve all been promised) is the precondition for deflationary movement. No amount of “pricing in” changes that.
Even if we assume a fixed global supply of bitcoins (which is a big assumption because it assumes bitcoin deposits at institutions will always be backed by full reserves), that doesn't mean that the supply of bitcoins in a particular economic area will be fixed. It most certainly won't, unless international trade stops.
Where is this assumption coming from? I have never heard this before.
> that doesn't mean that the supply of bitcoins in a particular economic area will be fixed. It most certainly won't, unless international trade stops.
Putting non-competing sectors of the economy in competition against each other for a slice of a fixed monetary supply is another basic and sufficient precondition for deflation. There’s a very good reason we don’t do that currently.
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If the crypto community wants to demonstrate that it isn't a giant Ponzi scheme, why not come up with a non-deflationary token, which will not massively reward 'early adopters' at the expense of everyone else, in perpetuity? (A non-deflationary token would be one where the supply grows by some reasonable percentage every year, effectively acting as a flat tax on one's holdings). In reality, non-deflationary cryptocur…
Show me a stock anyone is interested in that isn’t expected to go up and reward early adopters. “If the stock community wants to demonstrate that it isn't a giant Ponzi scheme, why not come up with a non-deflationary stock, which will not massively reward 'early adopters' at the expense of everyone else, in perpetuity?”
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Imagine a world where infrastructure, libraries and developer tooling are all there. Imagine the reduction in costs for infrastructure, security (sure you still have to do it but the body looks completely different) and all that goes with having a "backend". Suddenly you don't even need to run a business to afford supporting an app that loads of people use. Sure, you will still have backend processes but the exposure…
That sounds great if it lowered costs, but it takes gas to run services on blockchains - it’s still “someone else’s computer” that has to be incentivized to do work, whether that’s executing a smart contract or paying to pin files on IPFS. IMO there’s room for small benevolent communities where people choose to share in the cost of infrastructure (e.g. hosting seedboxes in torrenting communities where you are expecte…
As for "who's going to run the nodes", if cryptoeconomics or users don't take care of it, I assume businesses will. The nice thing is that regardless, the payment for this infrastructure is also facilitated through cryptocurrency transactions on L2 networks. For someone who doesn't want or need to take ownership of that, it can just be proxied through to the client and not need to be the concern of the developer of publisher of the app.
Of course businesses can still choose to pony up for it proactively of they have the finances to support it, potentially running it themselves or through a third party. You can always fall back to "the old ways" for certain things when it makes sense.
It saddens me that they chose "web3" for the latest crypto pyramid scheme. Call it what you want, but please don't sully the web with your plat du jour crypto antics. Also for what it is worth, the web has been decentralised from the very start, I don't see what the fuss is about apart from just everyone getting rich selling the next hot coin/token/whatever.
If the crypto community wants to demonstrate that it isn't a giant Ponzi scheme, why not come up with a non-deflationary token, which will not massively reward 'early adopters' at the expense of everyone else, in perpetuity? (A non-deflationary token would be one where the supply grows by some reasonable percentage every year, effectively acting as a flat tax on one's holdings). In reality, non-deflationary cryptocur…
It's the same as putting money into NASDAQ100 or SP500 and waiting for it to go up only. Is that a Ponzi scheme? No.
It's a volatile synthetic hedge against assets with real fundamentals.
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I love pointing out that if it becomes a serious currency banks would offer bitcoin-denominated loans (causing an increase in money supply); and if there's then a credit crunch the Fed could offer bitcoin-denominated (but unbacked) bonds. It would be like the gold standard all over again.
I'm curious why you think this is the case. It's close to impossible (good luck convincing people to devalue their money) to increase the Bitcoin supply other than through minig.
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This all sounds very noble, but it will last precisely as long as it takes someone to right-click copy right-click paste. Sure you can verify the hash and signature etc, but no one reading an article is going to bother verifying the signature apart from the real die-hards. Heck my mum can't even verify she typed in the right URI and ends up on all sorts of crazy scam sites (e.g. "I went to google and they said I had…
The ownership aspect of web3 doesn't fix the problem you outline, sure, but it isn't meant to. Ownership of something isn't proof of uniqueness, it doesn't stop copying, and it would have no impact on what user's are able to do with other user's content. That's the same as ownership in the real world - the fact you own a Picasso doesn't stop me copying it, or photographing it, or telling people it's really by me. Own…
So web3 is exactly like web2 then?
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If the crypto community wants to demonstrate that it isn't a giant Ponzi scheme, why not come up with a non-deflationary token, which will not massively reward 'early adopters' at the expense of everyone else, in perpetuity? (A non-deflationary token would be one where the supply grows by some reasonable percentage every year, effectively acting as a flat tax on one's holdings). In reality, non-deflationary cryptocur…
> In reality, non-deflationary cryptocurrencies have been tried on various occasions. Surprise! None of them have taken off because "number doesn't go up". I am curious to see what will happen when the everything bubble pops If people don’t react in an angry way that’s the clear signal from society that it wants a certain % of ponzi and scams to be allowed and tolerated Much like it tolerates gambling , lottery and g…
… the market is flooded with cheap video cards and we finally have a feast. Unless I die waiting, which is what will probably happen. Please, God, Jesus, Allah, Rama, whoever; I've been waiting far too long already.