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Web3? I have my DAOts

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Re: Web3? I have my DAOts

#251

Post by 908087 »

InvertedRhodium wrote: post #247
NicoJuicy wrote: post #210

Earlier quoted context omitted.

Bitcoin can be shorted. Bitcoin prints money ( eg tether) Bitcoin just doesn't work. It's centralized now to fix it's issues. Best of all, none is regulated and the whales hold the power. Even more in the future with proof of stake. There is more dilution and misunderstanding with crypto in general then I've ever seen.

What is Tethers relationship to Bitcoin? I thought they had their own coin.

Tether's relationship to Bitcoin is that 80%+ of the trade volume in BTC markets is Tether.

Re: Web3? I have my DAOts

#252

Post by mNovak »

fnoof wrote: post #167
outside1234 wrote: post #119

Earlier quoted context omitted.

This is the technobabble that just drives me insane about this space.

I think with any weird new technology, fundamentally no knows if it’s going to work. People who can’t see or imagine use cases become sceptics. But others who piece together enough observations to tell themselves stories of why it will work become believers. But neither can explain why the tech will or won’t work, so we end up with technobabblers and angry sceptics.

Probably both sides can convince themselves the tech does or doesn't totally obviously beyond a doubt work (to differing definitions of "work"). But predicting public adoption and widespread use (which makes most things more inherently useful too) isn't easy for anyone.

Re: Web3? I have my DAOts

#253

Post by sanderjd »

gfodor wrote: post #40
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.

You know how most web2 sites never delete data, but just flag it as hidden? The web3 argument is to create systems whereby this is the norm, when one chooses, with the lowest layer being durable and immutable, but a variety of higher level layers (some centralized) having the freedom to mask that data when they choose. Ultimately, the relevant question is if the root layer of open data systems should allow erasure. T…

> You know how most web2 sites never delete data, but just flag it as hidden?

Not the ones I've worked on... Flag as hidden and delete after some number of days is the best practice which I think (and hope) is commonly done?

Re: Web3? I have my DAOts

#254

Post by apatters »

So Web3 is built on blockchains which are decentralized and decentralization confers benefits such as censorship resistance, downtime resistance etc.

But blockchains require resources to operate. At great scale they will require great cost. What's to stop powerful actors from leveraging economies of scale and consolidating those resources, then ultimately using their control to manipulate the blockchains themselves?

This is exactly what happened with web servers. The web was initially very decentralized, due to economies of scale it consolidated and is hosted mostly in a few large datacenters now. The owners of those datacenters are by necessity very close partners with the government du jour, and now manipulate the content they host.

Re: Web3? I have my DAOts

#255

Post by Dylan16807 »

stolenmerch wrote: post #14

I really don't think that Mona Lisa example is correct. Maybe I misunderstand NFTs, but wouldn't it be more like a printmaker who can make as many copies as desired, but the museum sells something like the Artist's Proof and documents the sale in an official newsletter that goes out to all members? Yes, everyone else has a print or a poster version, but only one buyer has the Artist's Proof and can prove its provenan…

In so many of these systems, completely random people keep making "Artist's Proofs" and selling them. It's documented in a newsletter, but there's no real authority behind the newsletter.

That's why it has the sentence saying that the person selling you the receipt has never owned the mona lisa.

Re: Web3? I have my DAOts

#257

Post by X6S1x6Okd1st »

apatters wrote: post #254

So Web3 is built on blockchains which are decentralized and decentralization confers benefits such as censorship resistance, downtime resistance etc. But blockchains require resources to operate. At great scale they will require great cost. What's to stop powerful actors from leveraging economies of scale and consolidating those resources, then ultimately using their control to manipulate the blockchains themselves?…

The cost in blockchains usually comes from security garuntees, but there's a strong force of resisting centralization in many forms in the blockchain space, e.g. https://vitalik.ca/general/2021/12/06/endgame.html

We'll see what the endgame actually is as time inexorably marches on

Re: Web3? I have my DAOts

#258

Post by malermeister »

rglover wrote: post #215
malermeister wrote: post #162

Earlier quoted context omitted.

In a democratic society it is already by consensus. The consensus is established during elections.

??? Who is elected has literally nothing to do with what happens on a decentralized or centralized network (short of indirect influence).

Consensus over who censors what is established at election time, by people voting for the party representing their views. No need for overengineered schemes.

Re: Web3? I have my DAOts

#259

Post by mNovak »

dane-pgp wrote: post #148
vvpan wrote: post #120

Earlier quoted context omitted.

Arguments about blockchain here on HN are frustrating. There are plenty of good examples of where it works very well but the mental gymnastic people go through to deny the obvious are incredible. The most basic to me is the Automatic Market Maker system. For example Uniswap is a system with only a few (relatively speaking) lines of a code at its core and a team of a couple of dozen. The system does billions of dollar…

> Mining HNT with Hotspots is done via radio technology, not expensive or wasteful GPUs. > Hotspots work together to form a new global wireless network and undertake ‘Proof-of-Coverage’. Okay that's actually quite clever. I've previously wondered why no one has tried a similar idea for wired networks, implementing "Proof of possession of IPv4 address". It may be possible for a nation state to take control of a large…

The "proof" part of proof of coverage is very weak in Helium currently. Clearly most people are in good faith, but it is inherently vulnerable to Sybil attacks, because there's a chicken and egg problem with starting a new group of hotspots in an area with no external 'trusted' hotspots to validate them.

Re: Web3? I have my DAOts

#260

Post by zepto »

mNovak wrote: post #249
zepto wrote: post #199

Earlier quoted context omitted.

It’s incredible that you think it isn’t.

I never understood how a personal check could be secure. You can literally have them printed for you over the internet, and deposited via image. I just can't understand where the security comes from, it feels like a liability just having them.

They aren’t cryptographically secure, obviously.

The security comes from the capacity of the banks to hold or reverse them, and the capacity of the legal system to jail people for check fraud.

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