0x Launch Kit – Launch your own cryptocurrency exchange or marketplace • Hacker News Board

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#181

Post by rickycook » Thu, May 30, 2019, 8:04 AM UTC

arcticbull wrote: post #172

teh_infallible wrote: post #162

Earlier quoted context omitted.

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.

No, I don’t think micro transactions have a future - peer to peer or otherwise - but not for any technical reasons. Humans suffer from decision fatigue [1] wherein making decisions just wears you out and you don’t want to do it regardless of size. A decision requires a costly, difficult evaluation of worth regardless. That’s why even though buying shows one at a time on iTunes would likely save you money, you pay for…

Flattr is micro-payments, and is fantastic!

AWS became successful party because of the "micropayments for servers" style hourly model.

Micropayments are most certainly a limitation of the current financial system: Pulling together all the disparate banks of the world to cooperate to create a global API to facilitate payment for <$1 amounts? Don't assume that all problems are technical: This would be near impossible, where cryptocurrencies are doing this right now.

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#182

Post by profalseidol » Thu, May 30, 2019, 8:06 AM UTC

flyGuyOnTheSly wrote: post #150

tomhschmidt wrote: post #11

Earlier quoted context omitted.

You don't have to trust! 0x Exchanges are non-custodial -- you hold onto your funds and atomically execute trades through the 0x smart contracts, which are open source and audited. https://www.youtube.com/watch?v=WSxphhWcLxk

So ultimately the users have to trust the smart contracts then, yes?

Remember that the smart contract is committed to the blockchain and can never be changed.

Just like when you push your code to a git repo. It's guaranteed immutable, tamper proof. Data side is handled by appending to the blockchain as well. But this doesn't mean it's bug-free.

You have essentially a tamper proof Database with Stored Procedures that doesn't need DBAs. I imagine it as a giant growing BitTorrent file that is maintained (and rewarded) by many computers worldwide. Any tampering to this file, it's immediately detected via hashing (just like in BitTorrent).

The only way to break this is by branching out like you do in git. But in Blockchain, you will have to convince those computers to maintain your fork. And on this note, a Blockchain is technically not controlled by 1 entity, it is the choice of every individual blockchain maintainers (aka miners).

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#183

Post by rickycook » Thu, May 30, 2019, 8:07 AM UTC

egypturnash wrote: post #152

rickycook wrote: post #125

Earlier quoted context omitted.

95% of blockchain projects are a garbage heap, crypto currency is WAY overvalued, but the 5% of projects that are actually useful, and have a real need for a blockchain may just fundamentally change parts of how we live life when micro transactions as a concept came to games, it changed the way people wrote games. when crowd funding became mainstream, it allowed more innovation from people with just a need and an ide…

> when micro transactions as a concept came to games, it changed the way people wrote games Has there ever actually been a case where microtransactions made for a better game? Everything I've read about what it's like working for studios that rely on them is creepy stories about trying to chase 'whales'.

I wouldn't say "better"; That's pretty damn hard to substantiate! What's the other option? Well 1 is that the game wouldn't exist. I guarantee that Popcap [1] wouldn't be too happy, and there are plenty of people that get enjoyment from their games (arguably sometimes to an unhealthy degree). If micropayments weren't a thing, then many of their games would likely not exist.

[1] https://www.ea.com/studios/popcap/games

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#184

Post by Aromasin » Thu, May 30, 2019, 8:14 AM UTC

egypturnash wrote: post #152

rickycook wrote: post #125

Earlier quoted context omitted.

95% of blockchain projects are a garbage heap, crypto currency is WAY overvalued, but the 5% of projects that are actually useful, and have a real need for a blockchain may just fundamentally change parts of how we live life when micro transactions as a concept came to games, it changed the way people wrote games. when crowd funding became mainstream, it allowed more innovation from people with just a need and an ide…

> when micro transactions as a concept came to games, it changed the way people wrote games Has there ever actually been a case where microtransactions made for a better game? Everything I've read about what it's like working for studios that rely on them is creepy stories about trying to chase 'whales'.

If think in some games where cosmetics are the only commodity it works well. In-game customization frankly was not a priority for game-devs, as it did not turn a profit. That is until games like League of Legends et al made customization micro-transactions their entire business model. It's meant newly fantastic support for the art departments! It's also lead to a number of games that are constantly updated over many years instead of just made for release, so one can play their favourite games without them become stale. Yes, this has existed in the form of a subscription service before, but cosmetic micro-transactions have effectively socialised some games, where the whales pay for game development and less wealthy individuals still get to enjoy the game without paying anything! Path of Exile probably wouldn't exist without micro transactions, at least to the popularity it has become, and I've never had to pay a penny to play that game.

So there are a few cases. That's not to say that most mobile game micro-transaction models aren't absolute hot, filthy, dirty, disgusting, stinking garbage.

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#185

Post by remcob » Thu, May 30, 2019, 8:28 AM UTC

arcticbull wrote: post #148

verroq wrote: post #146

Earlier quoted context omitted.

Because there is no status quo? (And solutions that aren’t better than status quo should be automatically thrown in the trash?). Now if your question is why are markets useful, then that is obvious is it not? Secondly, I find this viewpoint highly regressive, the asking of why is X useful question. We can go to the moon but why is it useful? These type of questions are ultimately backwards and short sighted. Why do w…

> Because there is no status quo? (And solutions that aren’t better than status quo should be automatically thrown in the trash?). I think in general, people are excited by technology that's innovative and promising. It doesn't have to solve problems better or more efficiently today but it should have some clear path to doing so, yeah. > Now if your question is why are markets useful, then that is obvious is it not?…

> It's a 10-year-old recombination of 20-year-old tooling. Merkle trees and hashcash. That's it.

This is an unfair characterization. Every technology can be described as a recombination of what existed before. Bitcoin solved the distributed consensus problem in a completely new way. This was a long open problem.

> There's no research, no innovation.

There's a ton of blockchain motivated research going on in signature schemes, distributed consensus, formal verification, zero knowledge proofs, verifiable delay functions, game theory, governance, economics, etc.

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#186

Post by [deleted] » Thu, May 30, 2019, 8:30 AM UTC

wolco wrote: post #67

woah wrote: post #44

Earlier quoted context omitted.

You can’t steal the tokens if you are running a 0x exchange.

Only 0x can steal them

[deleted]

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#187

Post by rando444 » Thu, May 30, 2019, 8:33 AM UTC

tomhschmidt wrote: post #2

Tom from 0x here. Happy to answer any questions about Launch Kit or 0x more broadly!

This question is open to anyone:

I'm extremely curious what the business model here is.

Who is paying for this to be created, and what do they get out of it in the long run?

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#188

Post by nurettin » Thu, May 30, 2019, 9:53 AM UTC

nostrademons wrote: post #75

nurettin wrote: post #73

Earlier quoted context omitted.

> That's the genius of the 0x protocol pretty proud that I stopped reading right here at the sales pitch to let you know that all coins are scams, every single person and group who tries to build a coin trading community using telegram is a scammer, there is no use for a blockchain in any foreseeable human endeavour or venue and it was all a big mistake. You may proceed.

I should bookmark this comment and we'll come back to it in 10 years. :-)

That is ironic, as I had 10 years of hindsight coming up with that thought.

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#189

Post by root_axis » Thu, May 30, 2019, 4:01 PM UTC

profalseidol wrote: post #182

flyGuyOnTheSly wrote: post #150

Earlier quoted context omitted.

So ultimately the users have to trust the smart contracts then, yes?

Remember that the smart contract is committed to the blockchain and can never be changed. Just like when you push your code to a git repo. It's guaranteed immutable, tamper proof. Data side is handled by appending to the blockchain as well. But this doesn't mean it's bug-free. You have essentially a tamper proof Database with Stored Procedures that doesn't need DBAs. I imagine it as a giant growing BitTorrent file th…

None of that is really true though. It can all be changed on the whim of influential thought leaders within the eth community.

Re: 0x Launch Kit – Launch your own cryptocurrency exchange or marketplace

#190

Post by arcticbull » Thu, May 30, 2019, 4:11 PM UTC

rickycook wrote: post #180

arcticbull wrote: post #142

Earlier quoted context omitted.

> 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...…

> If you sold one of your TODO notes for $170,000 frankly I think that'd be a fair judgement to make. 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 ca…

> 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

The government is the entity that recognizes the change of ownership, it's not something you can do without their approval. Your change of ownership is being filed with the government and is available at their discretion - they can choose to block it. Car registration isn't for your benefit. If you require the government's approval you may as well store it in their database. I just saved you a blockchain :)