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Web3? I have my DAOts

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Re: Web3? I have my DAOts

#171

Post by dane-pgp »

UncleMeat wrote: post #64
TigeriusKirk wrote: post #48

Earlier quoted context omitted.

There's also the potentially interesting idea of wallet-as-resume. IE allowing different types of access depending on what sorts of things you've done with your wallet in the past. Certainly not for all applications, but a certain level of implied competency might be appropriate in some cases.

"Service X preemptively bans me because I signed up for service Y with my wallet" sounds like the opposite of censorship resistance and decentralization.

It should be possible for each person to create multiple digital identities and have them linked using zero-knowledge proofs. If we can solve the messy problem of giving everyone (arbitrarily many uncensorable pseudonymous) IDs with their own key pairs, it should be relatively simple to layer on top of that all the functionality and privacy guarantees we would want from an ID system.

For example, once a reasonable digital ID system exists, we can start to build trust systems, such that your good reputation among one community can be used to bootstrap your reputation in a new community. Again, zero-knowledge proofs should be a viable mechanism for conveying trust relationships without having to reveal your social graph.

Some of this data would have to be stored off-chain, or only in encrypted form on-chain, but I don't think there are any practical limits of blockchain technology which prevent this.

Re: Web3? I have my DAOts

#172

Post by canjobear »

iskander wrote: post #63
whoisjuan wrote: post #25

I think the problem with the current state of Web3 is that it really doesn't seem to solve meaningful, mainstream problems yet. Even the most widely accepted use case which is crypto-currency fails to break out of the theoretical value outlined in the different white papers. I own several crypto-currencies and there hasn't been a single moment in which I thought of buying something with a crypto-currency. I have cryp…

>I own several crypto-currencies and there hasn't been a single moment in which I thought of buying something with a crypto-currency. This is entirely personal and subjective, but I prefer the user experience of Aave and Yearn to traditional banking with e.g. Chase. I also would way rather make large purchases with crypto (e.g. down payment on a house) compared with wiring money.

Have you actually sent large amounts of money through crypto? My experience is that it is incredibly nerve wracking.

Re: Web3? I have my DAOts

#173

Post by dannyw »

whoisjuan wrote: post #25

I think the problem with the current state of Web3 is that it really doesn't seem to solve meaningful, mainstream problems yet. Even the most widely accepted use case which is crypto-currency fails to break out of the theoretical value outlined in the different white papers. I own several crypto-currencies and there hasn't been a single moment in which I thought of buying something with a crypto-currency. I have cryp…

I use crypto on a weekly basis, from renewing domains and web hosting, to accessing loans in 15 seconds without gatekeepers.

Re: Web3? I have my DAOts

#174

Post by TrackerFF »

cblconfederate wrote: post #160
BadCookie wrote: post #126

Earlier quoted context omitted.

If the data belongs to an individual consumer, the data must actually be deleted at the customer’s request to comply with GDPR and CCPA.

I d like to see them try to enforce the GDPR across the entire internet simultaneously People should realize that writing a law on a piece of paper doesn't make it real or enforceable

In many countries, it is possible to force ISPs to block content - and in the end, I guess it's easier for ISPs to simply not offer you their service, than face gov. mandated fines.

It's a bit like cryptocurrencies and banks. Because it becomes such a big burden for banks (to prove that the money obtained by selling crypto is not related to funding terrorism, crime, etc.), many banks simply refuse service to customers dealing with crypto. Either closing accounts, freezing money, or whatever.

Re: Web3? I have my DAOts

#175

Post by cqwrtiq »

UncleMeat wrote: post #68
theplumber wrote: post #28

Earlier quoted context omitted.

ETH is expensive but there are other "cheaper" blockchains compatible with ETH whose "gas" price is negligible. You can also deploy for free on the "testnet"

A major reason why those blockchains have lower fees is because speculators have not driven up their token price. Unless there is some fundamental reason why the fees will stay low, you've got a time bomb on your hands as soon as people decide that this blockchain is a major speculation vehicle.

This is an interesting topic that I feel like doesn't get discussed often. Vitalik Buterin posted today about Ethereum's expensive gas fees and the reasoning for it. It boiled down to decentralization vs. more operations per block. Blockchains like Algorand and Solana have large block sizes, so they can keep fees low per block (which they both do a very good job of doing so far, although exactly how cheap they'd be with Ethereum's adoption numbers is still uncertain). Tezos has had more adoptions through NFTs and they've managed to keep transaction fees low as well (although arguably running a Tezos node now requires better hardware specs than it did a few years ago). The tradeoff is that beefy hardware is needed to run a node, which hurts decentralization, as the average participant without deep pockets can't compete. This is part of why Ethereum has high gas costs.

Re: Web3? I have my DAOts

#176

Post by pezezin »

jeroenhd wrote: post #16
TrackerFF wrote: post #8

RE: Censorship You often see advocates of decentralization hail networks for being pro-immutability, battling censorship. How does it deal with data you absolutely do _NOT_ want to be shared and propagated around? I'm talking about things like CP, terrorist media, fake news, scams/frauds, and what not.

In most cases, the answer is simple: you don't. For example, IPFS "solves" this by allowing requests for takedowns per gateway. The upside of IPFS is that you can go after every host, the downside is that everyone knows what content you visit. The network still propagates the illegal content, so you end up with a witch hunt. It's probably a good thing paedophiles haven't widely discovered IPFS+TOR.

> It's probably a good thing paedophiles haven't widely discovered IPFS+TOR.

Paedophiles discovered Freenet long time ago. Source: I took a look at TOR, I2P and Freenet years ago, and noped the fuck out.

Re: Web3? I have my DAOts

#177

Post by arcticbull »

hfj6gghgf wrote: post #82
mplewis wrote: post #74

Earlier quoted context omitted.

I wouldn't. The Bitcoin might not cover the down payment when it arrives ten minutes later.

If the downpayment was accepting bitcoin then it would be a set amount like 0.1btc and not a dollar value.

Well, no, because the value would flail around wildly. No sane person would do that. BTC crashes 10% in minutes, who would knowingly expose themselves to that kind of forex risk for the few hours it takes to get the confirmations needed to feel comfortable? When one could instead liquidate their position in seconds, confirm the amount, and wire it to their recipient - free of charge often. Domestic wires are free on FTX but sending USDC-ETH to your own wallet costs $25. There's literally zero good reason for doing what you suggest.

Re: Web3? I have my DAOts

#178

Post by diveanon »

iskander wrote: post #63
whoisjuan wrote: post #25

I think the problem with the current state of Web3 is that it really doesn't seem to solve meaningful, mainstream problems yet. Even the most widely accepted use case which is crypto-currency fails to break out of the theoretical value outlined in the different white papers. I own several crypto-currencies and there hasn't been a single moment in which I thought of buying something with a crypto-currency. I have cryp…

>I own several crypto-currencies and there hasn't been a single moment in which I thought of buying something with a crypto-currency. This is entirely personal and subjective, but I prefer the user experience of Aave and Yearn to traditional banking with e.g. Chase. I also would way rather make large purchases with crypto (e.g. down payment on a house) compared with wiring money.

I agree.

Recently purchased a home with a loan from aave polygon and it was pretty painless.

Re: Web3? I have my DAOts

#179

Post by digitailor »

Animats wrote: post #99

OK. The reason all this happening is that Bitcoin really did go to the moon. That's what powers all this speculation. If the price of Bitcoin had been stable for a decade, and it worked reliably, it would be a useful medium of exchange, but nobody would care. This is all about MAKE MONEY FAST. Bitcoin found some early use cases. Drugs first. Then getting money out of China. Money laundering. Tax evasion. Scams. Bitco…

Barring value judgements about the subject, there are some large chronology and fact checking problems with this post. The federal scrutiny of Bitcoin happened a long time ago now.

The China crackdown was this year. The US agencies mentioned all started examining bitcoin in 2012 at the very latest, and had a decent grip by the next year. Left off the list is the agency with the most impactful jurisdiction- the DHS- who essentially "signed off" on the "legality" of Bitcoin in 2013, specifically citing the ease of tracing bitcoin transactions. The IRS gave its guidance on bitcoin (and classed it as property for taxation purposes) in 2014. FinCen was not particularly concerned at this time, according to someone at FinCen at the time.

Cooperation between compliance specialists (like Promontory) and major investors and the federal government (for KYC and AML) hit full steam by end 2013, by necessity. The FBI seizes assets suspected of being used in the commission of federal crimes, and bitcoin is simply another asset for them to seize, which the Justice Department has done successfully for a decade now.

One could argue that bitcoin was able to go to the moon because of these decisions, actions, and verdicts.

Sources: people who worked in these agencies or organizations at the time and the publicly available information at the time that it was disseminated.

Re: Web3? I have my DAOts

#180

Post by arcticbull »

kwertyoowiyop wrote: post #95
zepto wrote: post #72

Earlier quoted context omitted.

Why is ‘ wiring ’ so bad from your point of view?

Indeed. I’ll gladly pay $20 to have a professional human in the loop when I transfer the down payment on a house.

Wires are often free. My bank (HSBC) charges me nothing for domestic wires, my brokerage (IBKR) charges me nothing for domestic wires, Schwab charges nothing for domestic wires, neither does Fidelity, USAA or Ally - even FTX charges nothing for domestic wires - even though moving USDC-ETH out of FTX and into your wallet costs $25.
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