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Helium has revenues of $6.5k/month after $365M investment from A16Z

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Re: Helium has revenues of $6.5k/month after $365M investment from A16Z

#291

Post by cyanydeez »

TomSwirly wrote: post #258
swamp40 wrote: post #248

Earlier quoted context omitted.

Crypto is the payment method for this service. It's not an essential element, and there is much more to it. I'm not exactly sure where your definition of 'web3' and crypto overlap, but there are many future public use cases for crypto. Banking the unbanked, protection against hyperinflation, etc. Maybe 10+ years away, but it will happen.

> Banking the unbanked I first heard this line eight years ago and so far this hasn't happened. If you are unbanked, it's because you have little money, and you want to put it into something stable and something where you are protected - in other words, the exact opposite of cryptocurrencies. > protection against hyperinflation, In 2022, cryptocurrencies have experienced over 100% inflation. Your one bitcoin today wi…

Or the unbanked are criminals who need something other than fat stacks

Re: Helium has revenues of $6.5k/month after $365M investment from A16Z

#292

Post by latexr »

TomSwirly wrote: post #258
swamp40 wrote: post #248

Earlier quoted context omitted.

Crypto is the payment method for this service. It's not an essential element, and there is much more to it. I'm not exactly sure where your definition of 'web3' and crypto overlap, but there are many future public use cases for crypto. Banking the unbanked, protection against hyperinflation, etc. Maybe 10+ years away, but it will happen.

> Banking the unbanked I first heard this line eight years ago and so far this hasn't happened. If you are unbanked, it's because you have little money, and you want to put it into something stable and something where you are protected - in other words, the exact opposite of cryptocurrencies. > protection against hyperinflation, In 2022, cryptocurrencies have experienced over 100% inflation. Your one bitcoin today wi…

> You can't keep promising something useful and never delivering, forever.

As long as there’s a chump willing to buy the idea of getting rich quick, there will be a weasel selling them a bridge. These days it’s a receipt for a picture of a bridge where they own neither the bridge nor the picture, but you do get an immaterial useless receipt. Pass it on to the next dope, and try to not be scammed again and get your receipt stolen.

Re: Helium has revenues of $6.5k/month after $365M investment from A16Z

#293

Post by mcculley »

bauruine wrote: post #289
mcculley wrote: post #269

Earlier quoted context omitted.

The usage in Switzerland, South Korea, and other developed countries is very different. They use the bandwidth available. Netflix and YouTube show us that many people want more bandwidth. There would be no data caps if paying for bandwidth consumed.

I work for an ISP in Switzerland. If you download a game you use 1Gbit/s+ for a few minutes instead of an hour or two. The average bandwidth used stays the same. Both don't require a lot of bandwidth and you have caches for their content. You can buy additional data if you've used your included data. That's basically the same.

Paying for bandwidth used is exactly what I am talking about. In less developed places, 1Gbit/s is simply unavailable and usage is capped. There is no economic incentive to build better infrastructure for applications that do require a lot of bandwidth (e.g., Netflix).

Re: Helium has revenues of $6.5k/month after $365M investment from A16Z

#294

Post by smoldesu »

oblio wrote: post #234
smoldesu wrote: post #210

Earlier quoted context omitted.

> Blockchain tech will for sure have many legit use cases When?

Well, it will only take as long as for web 1.0 and web 2.0 to find legit use cases. What's that you say? Those technologies have legit cases from almost day 1, it just took the technology a bit to catch up? That's just like crypto tech. Ah, it isn't, you say? Blockchain has the tech but the list of legit and popular use cases only it can solve is almost 0 and we haven't really found new ones in almost 14 years?

I think you've basically defeated your own arguement. These Web3 principles of decentralization are not new, and fully possible to implement with Web2. Bittorrent, DNS, Napster, PeerTube, Matrix, Mastodon... all of them are Web2 software that use the smart principles of Web3 without adopting asinine smart contracts or self-sabotaging governance concepts.

The Blockchain does have problems it can solve, they just got solved by Web2 first. Sorry.

Re: Helium has revenues of $6.5k/month after $365M investment from A16Z

#295

Post by haswell »

latexr wrote: post #286
haswell wrote: post #285

Earlier quoted context omitted.

> Cryptocurrencies are almost as old as the smartphone. You can't keep promising something useful and never delivering, forever. I’m generally pretty bearish on crypto and the current state of web3, so I’m not here to evangelize for it. But comparing crypto to a smartphone is arbitrary, and the nature of one does not help us understand the acceptable timeframe for development of the other. When I see the “it’s existe…

> What is a reasonable amount of time for an emerging technology like this to develop? Suggestion: it depends on the harm it causes in the meantime. If an emerging technology isn’t living up to its promise and the downside is the creators wasting their time, let it go on indefinitely. Maybe they’re having fun. As long as no one is getting hurt, it’s a hobby. If the emerging technology is solving nothing and actively…

I think this is an interesting way to look at it, and probably a good one. But it focuses only on the crypto side of web3, which to me is the least interesting part.

To be clear, I personally feel that the next generation of the Internet needs a full reboot. Web3 is the web in name only, and the ideals that crypto bros extol have been hijacked to further these currencies.

But until some separation between web3 and “the future of the open web” is clearly created, the current problems with the web3 space will continue to proliferate.

Re: Helium has revenues of $6.5k/month after $365M investment from A16Z

#296

Post by NikolaNovak »

TomSwirly wrote: post #258
swamp40 wrote: post #248

Earlier quoted context omitted.

Crypto is the payment method for this service. It's not an essential element, and there is much more to it. I'm not exactly sure where your definition of 'web3' and crypto overlap, but there are many future public use cases for crypto. Banking the unbanked, protection against hyperinflation, etc. Maybe 10+ years away, but it will happen.

> Banking the unbanked I first heard this line eight years ago and so far this hasn't happened. If you are unbanked, it's because you have little money, and you want to put it into something stable and something where you are protected - in other words, the exact opposite of cryptocurrencies. > protection against hyperinflation, In 2022, cryptocurrencies have experienced over 100% inflation. Your one bitcoin today wi…

>>protection against hyperinflation,

>In 2022, cryptocurrencies have experienced over 100% inflation.

To be fair, my ignorant self assumed that for much of its timeline, Crypto fought hyperinflation by hyperdeflation. It is intentional design point of most Crypto to increase its value. This deflationary philosophy I assume goes immediately counter pretence of Crypto as currency - if my 1 token will be worth a significant X multiplier at timescale Y, I have zero incentive to exchange it for goods and services and full incentive to hoard it with assumption it'll be worth more tomorrow.

Re: Helium has revenues of $6.5k/month after $365M investment from A16Z

#297

Post by NikolaNovak »

haswell wrote: post #295
latexr wrote: post #286

Earlier quoted context omitted.

> What is a reasonable amount of time for an emerging technology like this to develop? Suggestion: it depends on the harm it causes in the meantime. If an emerging technology isn’t living up to its promise and the downside is the creators wasting their time, let it go on indefinitely. Maybe they’re having fun. As long as no one is getting hurt, it’s a hobby. If the emerging technology is solving nothing and actively…

I think this is an interesting way to look at it, and probably a good one. But it focuses only on the crypto side of web3, which to me is the least interesting part. To be clear, I personally feel that the next generation of the Internet needs a full reboot. Web3 is the web in name only, and the ideals that crypto bros extol have been hijacked to further these currencies. But until some separation between web3 and “t…

What IS web3 then? if we take Crypto out, isn't Web 3 basically Web 1? Instead of monolithic social networks of Web 2, We go back to independent self ownership of Web 1 when anybody could run a email or Web server as first class citizen?

And if so, hasn't market effectively spoken against it? We CAN have independent self owned systems now ; populace just doesn't give a damn - you need to be on social network to be seen or heard :-(

Re: Helium has revenues of $6.5k/month after $365M investment from A16Z

#298

Post by thedrbrian »

threeseed wrote: post #82
spaceman_2020 wrote: post #26

Earlier quoted context omitted.

The older protocols that were built in the depth of 2018-19 bear markets will survive. Many of them are also doing wonderfully well in terms of revenue. COMP, MKR, AAVE, CRV all make a ton in revenue and have a well-defined product-market fit. Crypto projects are tough to value. Their sheer global scale means that they can ramp up revenue and even profits extremely fast. StepN, a move-to-earn app reportedly made $120…

> StepN, a move-to-earn app reportedly made $120M in profit in its first year of operation Not bad. But nothing compared to the $1T in threeseed dollars I earned last year.

What's the ratio of threeseed dollars to TheDrBrian nickels?

Re: Helium has revenues of $6.5k/month after $365M investment from A16Z

#299

Post by snicky »

swamp40 wrote: post #277
TomSwirly wrote: post #258

Earlier quoted context omitted.

> Banking the unbanked I first heard this line eight years ago and so far this hasn't happened. If you are unbanked, it's because you have little money, and you want to put it into something stable and something where you are protected - in other words, the exact opposite of cryptocurrencies. > protection against hyperinflation, In 2022, cryptocurrencies have experienced over 100% inflation. Your one bitcoin today wi…

>100% inflation Volatility is not great but it is not hyperinflation, where your money never comes back. >promising something useful and never delivering, forever. Forever is a long time. Still lots of progress to be made. Cardano and Lightning Network on top of Bitcoin are my top picks right now.

It seems that the Lightning Network requires some degree of centralization which defies the main premise of Bitcoin, no?

Re: Helium has revenues of $6.5k/month after $365M investment from A16Z

#300

Post by swamp40 »

latexr wrote: post #286
haswell wrote: post #285

Earlier quoted context omitted.

> Cryptocurrencies are almost as old as the smartphone. You can't keep promising something useful and never delivering, forever. I’m generally pretty bearish on crypto and the current state of web3, so I’m not here to evangelize for it. But comparing crypto to a smartphone is arbitrary, and the nature of one does not help us understand the acceptable timeframe for development of the other. When I see the “it’s existe…

> What is a reasonable amount of time for an emerging technology like this to develop? Suggestion: it depends on the harm it causes in the meantime. If an emerging technology isn’t living up to its promise and the downside is the creators wasting their time, let it go on indefinitely. Maybe they’re having fun. As long as no one is getting hurt, it’s a hobby. If the emerging technology is solving nothing and actively…

> creating new problems, allowing bad actors to consistently hurt others with little to no consequences, and accelerating our demise so a handful of egoistic maniacs can see a number go up in their bank accounts

You are 100% correct. It is time to End The Fed.

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