171–180 of 209 posts
Earlier quoted context omitted.
How do you objectively measure better besides revenue?
User feedback.
Dollars at least have tangible measure. I can't imagine that their users are hate spending money on in game purchases.
Earlier quoted context omitted.
> How about real time cross border remittance and settlement? Current fiat approaches require large illiquid reserves, are slow, and not very scalable. It's bad for that, we've been through this. To send money you have to pay ~1% to an exchange in your home country, wait a few days for it to clear exposing yourself to huge forex risk, pay a $1 transaction fee give or take, then pay ~1% to an exchange in your destinat…
We get it- Hacker News is rabidly, irrationally anti-cryptocurrency. Which is ridiculous, considering most people here 1) Create or participate in online spaces and 2) Wish to monetize their services in ways that don’t necessarily involve advertising. You don’t think peer-to-peer micro transactions are going to transform your work in a fundamental way? Then I’m sorry, but you lack imagination.
Why should I launch an exchange when there are already hundreds of existing exchange? As a entrepreneur: Exchange services is very difficult to differentiate. It’s a commodity service. Why should I invest in marketing to promote my new exchange? As a customer: Why should I buy tokens? - Most of existing tokens have not active project behind - Many times the token is useless for the project and it will not increase in…
As a customer I want an exchange so that the tokens I buy have some liquidity, at least in theory. You're not going to be listed on an exchange initially and those exchanges that do list smaller tokens tend to be sketchy.
As an entrepreneur, you figure out how your use-case benefits from tokens. For example, let's say you provide a product/service. You can sell tokens that can be redeemed for the product/service to investors at a "wholesale price".
There's no need for tokens to go "to the moon", just to serve as a medium of exchange and ideally provide some margin to you and/or your investors. You could also offer a company ownership structure for tokens, but now you're in securities regulation territory, which nobody wants to deal with right now, at least at the moment.
Of course a lot of crypto projects are garbage, just like most businesses fail and wipe out investor money in the process. The hype surrounding crypto certainly has massively underpriced risk, but the same could be said about stock like Tesla, Lyft or Uber.
Earlier quoted context omitted.
Visa is NOT instant. VISA transactions take up to 48 hours to clear. And in some cases the credit card processor can and will hold funds for even longer than that.
Some do, but some like Square will pay you out next business day free of charge or instantly for a small surcharge. To your point they’re floating that during settlement. It’s instant in the sense that the transaction is approved instantly and the settlement is a formality.
Earlier quoted context omitted.
I don’t see why crypto skeptics feel the need to regurgitate the same tried and debunked talking points into every single thread about crypto. This unhinged rant might as well be a copypasta at this point. None of this thread is even about bitcoin. @dang can you do something about this.
You bring up an interesting point in that I can’t think of another technology out there quite as polarizing as crypto. It’s almost fanatical devotion from both sides. I disagree that the points are debunked, I think the current thinking from the pro side is that those are “today’s problems” and the future will be different. I think the anti camp like myself are frustrated by the religious devotion to something that i…
Earlier quoted context omitted.
I don’t see why crypto skeptics feel the need to regurgitate the same tried and debunked talking points into every single thread about crypto. This unhinged rant might as well be a copypasta at this point. None of this thread is even about bitcoin. @dang can you do something about this.
You bring up an interesting point in that I can’t think of another technology out there quite as polarizing as crypto. It’s almost fanatical devotion from both sides. I disagree that the points are debunked, I think the current thinking from the pro side is that those are “today’s problems” and the future will be different. I think the anti camp like myself are frustrated by the religious devotion to something that i…
Earlier quoted context omitted.
An account is controlled by a key AND the validators who choose to record their transaction. One cannot just share the key with others. First, they need to record it with ledger keepers. How is it not like transfer agent?
Yes, the transfer agent can ask for a key signing before moving funds, but they also need to be able to transfer WITHOUT the key. Examples would be a key loss or transfer of ownership due to court order. I don't know what the key is doing since it's optional and highly fallible proof of transfer intent. At best the key signing is providing a partial audit trail with no case law to support any liability transfer creat…
Looks interesting will give it a whirl. At work we have semi-jokingly been discussing idea of a internal currency as a mechanism of getting one team to do work for another when there is no obvious mutual benefit for said work. Its increasingly becoming an issue for us.
Chargebacks have been used since forever in corporate accounting systems for that purpose. They work fine, no cryptocurrency or exchange needed.
Earlier quoted context omitted.
well they don’t have to be... tokens are just code running on the blockchain, so you can apply anything you like to them... you can block a transfer until the recipient is in a whitelisted KYC list so that real world identities are known, and then you have your ledger worried that loses the “trustless” of blockchain? hash the KYC entry and store it on chain so you make certain that the off-chain real world ownership…
What happens when someone steals someones private keys and transfers the tokens to their account? What happens when someone loses their private keys? The asset by US law is tied to them as a person, not a bearer instrument like a private key.
Earlier quoted context omitted.
judging a cryptocurrency projects usefulness on cryptokitties is like judging a front end frameworks usefulness on “TODO MVP”: it’s just the example of a tradable asset that everyone uses BECAUSE it has no value and anyone can just set it up to test. substitute crypto kitties with something more real, like say a government starts to issue ownership information for cars (pink slips in the US i think? idk exactly) on t…
> judging a cryptocurrency projects usefulness on cryptokitties is like judging a front end frameworks usefulness on “TODO MVP” If you sold one of your TODO notes for $170,000 [1] frankly I think that'd be a fair judgement to make. > substitute crypto kitties with something more real, like say a government starts to issue ownership information for cars (pink slips in the US i think? idk exactly) on the blockchain...…
Other than the fact that people spend stupid money on stupid things [1], I'm not sure what your point is
> You know you can do that with a database right? Literally, a database
Yes, and this is a generic solution that applies to any kind of asset, and then software like 0x can plug in to trade said assets. Generic cases are always more complex than specific cases
> trying to introduce complexity and inefficiency into the US government
Well actually I'm trying to do nothing of the sort: As I said, it was an example of asset trading of something with intrinsic value, and not a valid use-case
> I already trust the government to allow me to drive my car. Why on earth does this need to be decentralized?
It has nothing to do with trusting the government, or driving a car. It has to do with transferring ownership information of an asset with intrinsic value between 2 parties, ensuring payment without relying on (possibly expensive) escrow
You seem to be conflating a number of examples that I made to explain specific points to be a proposition of things that should actually be done
[1] https://mentalfloss.com/article/54308/9-most-pointlessly-exp...