181–190 of 310 posts
> For example, if Elon Musk succeeds in landing the first person on Mars, his coin price should theoretically go up. And if, in contrast, he makes a racial slur during a press conference, his coin price should theoretically go down. Yes, and when people are making emotional/ideological financial decisions, I’ll buy the dip.
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It’s protocol-ized finance. Sure you can do it all old school, but that takes a ton of effort and makes your situation a unique snowflake. If you do it the way everyone has agreed on with tokens, all of your tokens plug into the existing infrastructure, is standardized, and makes the cost of capital go down. Why people continually can’t understand this, and keep saying “buh buh buh mysql and lawyer fees! No need for…
> Sure you can do it all old school, but that takes a ton of effort and makes your situation a unique snowflake. Many of the situations required in this article still require real-world contracts to make them work. The crypto tokens are additive on top of the contracts, but they don't replace contracts. Someone could sell you an NFT that represents 15% of their future earnings over the next 3 years, but the blockchai…
In any case, it’s not hard to imagine an evolution in our legal regime where tokens can gain the force of legal contracts. And then tokens will do everything that paper contracts will do, which is to say nothing except declare the terms of some mutual agreement between some meatspace entities. (obviously this only makes sense for fungible contracts)
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I think this entire idea is insane, but that's not the argument. >Many of the situations required in this article still require real-world contracts to make them work. The crypto tokens are additive on top of the contracts, but they don't replace contracts. There is no duality of 'real-world contract'/'digital contracts'. The question is if a digital document and signatures are accepted by a judicial system. In 50 ye…
> The potential upside of 'tokenized' and standardized/automated legal documents are: less ambiguous interpretations, automatic resolution, simpler trading, and easier cross-border contracts ( to some extent ). This all requires contracts as code capable of ascertaining external facts. As far as I know the only such facts that have been made to work are facts about the prices of other cryptocoins. Furthermore, most o…
Do meatspace contracts ascertain external facts? No, a court of law does. For most things that will likely never change. But if the contract is of a fungible nature, then allowing it to exist on a blockchain means ownership can be traded with no additional infrastructure required. This is why I prefer to call blockchain “market-as-a-service”...
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I had the exact same sentiment. I'm a sucker for these types of reflective, self-deprecating descriptions for oneself. And good for him as well, because I don't doubt his honesty at all.
> I don't doubt his honesty at all. Neither do I. That the mark of a truly great con artist ;-)
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> I don't have the personal skills to "sell" myself Actually you do. You've demonstrated them in this very comment. Maybe you don't realize this, or maybe your self-deprecation is a deliberate part of your strategy. Either way, it worked on me. This comment led me to your profile, which led me to your company web sites, which impressed me. I don't need an iOS app developer at the moment, but if I did you'd be at the…
I agree. I would buy some Chris Tokens.
Thanks. I’ll let you know when I do the ICO...
Hey, Alex Masmej here. Just wanted to say that I had no choice because I had no money in the bank. During the start of COVID, I lost my only (and very first) source income at the time, and I lost all my savings in crypto (DeFi is dangerous even to crypto people like me). Financially, this ISA freed me instantly, and gave me a newfound legitimacy as a crypto innovator. This was by far the best way I could find to brea…
I enjoyed the piece. Personally, I want no part of it, but I think it might work well for people who are not me. I've always been "on my own." My life really is a series of watersheds, where I've been the only person to believe in me, before the event, and a whole bunch of folks seemed to believe in me, after the fact. Not a particularly good setup for selling "Chris-Tokens™." Not a bad thing, in the long run. It hur…
I like (and can relate to) your comment, and the attitude it embodies. But I tripped over > "I couldn't rely on anyone else to ... get me out of jackpots." Huh? TIA for clarifying.
“Jackpot” === “Clusterfuck”
I think the origin is from something like “You hit the jackpot in the shit sweepstakes.”
Usually refers to a self-inflicted disaster.
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So it's a way to dodge the law? (while ruining the environment, of course)
No. What law is being dodged here? Again, no. Brute force Nakamoto consensus is bad for the environment, but lumping all crypto into that bucket is ignorant/intellectually dishonest.
All human production processes use energy, and therefore all economic activity is “bad for the environment” in the exact proportion of its energy use.
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I agree that there's a ton of money floating around / frothiness, but what's inherently wrong or ill-advised about investing in future cashflows of a person. Assuming you diversify across a bunch of people in a bunch of fields, this actually sounds better than some of the stuff people are investing in in the stock market.
Because having a share in an individual sounds very much like slavery?
edit: man you people cannot take a joke
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> The potential upside of 'tokenized' and standardized/automated legal documents are: less ambiguous interpretations, automatic resolution, simpler trading, and easier cross-border contracts ( to some extent ). This all requires contracts as code capable of ascertaining external facts. As far as I know the only such facts that have been made to work are facts about the prices of other cryptocoins. Furthermore, most o…
> This all requires contracts as code capable of ascertaining external facts Do meatspace contracts ascertain external facts? No, a court of law does. For most things that will likely never change. But if the contract is of a fungible nature, then allowing it to exist on a blockchain means ownership can be traded with no additional infrastructure required. This is why I prefer to call blockchain “market-as-a-service”…
The same is true of the Chicago Board of Options, established 1848. The blockchain adds nothing. It’s the snake oil of the modern age.