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How to send $ETH in 19 lines of Python

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Re: How to send $ETH in 19 lines of Python

#31

Post by spellboots »

anotha1 wrote: post #10
nootropicat wrote: post #7

Earlier quoted context omitted.

Making insane yield (50%-300% apr, depending on the time) on dollars

"That's what Bernie Madoff said." But for real, that doesn't make the cut. 1) maybe I don't have capital to invest, 2) your "yield" calculation ignores all risk.

It sounds like you have some additional constraints that you didn't make clear in your original question.

You said, "Tell me how to do something worth doing with ETH and I'll be impressed."

Also, you need things that you can do without capital, and that fit a specific risk profile that you haven't elaborated on. It sounds like you're assuming that making these yields are too risky for you, so are you looking for zero risk, or can you accept some risk?

Can you specify up front your constraints?

Here are two things you could do with ETH right now:

1. You could use it as the coordination layer for a decentralised git repository, that is fully distributed and censorship resistant. Hopefully you can see how this could easily be adapted to many similar use cases: https://github.com/cardstack/githereum

2. You could purchase flight delay insurance that pays out automatically if your flight is delayed: https://etherisc.com/

> Cue the intellectualization from "investors."

Cue the moving of the goalposts

Re: How to send $ETH in 19 lines of Python

#32

Post by zionic »

anotha1 wrote: post #16
jtsiskin wrote: post #14

Earlier quoted context omitted.

Does programmatic money not sound exciting to you? I see way more skepticism than support on HN but it surprises me. Can you really not picture any uses for a financial system with Turing completeness?

I've been playing with programmatic money since selling runescape gold for PayPal dollars. I guess I just need more idk

Huh? That's not what "programmatic money" means. You're confusing it with digital currency.

Programmatic money means you can define code/program with the money itself. In a trivial case I could easily program the money (called a smart contract) to pay you $1 every day. I could put $1000 in that contract and you could have near-total confidence of that payout schedule. The code itself is a property of that money, and its execution is enforced by the same system that secures the overall ledger.

Re: How to send $ETH in 19 lines of Python

#33

Post by echelon »

jtsiskin wrote: post #14
anotha1 wrote: post #5

Tell me how to do something worth doing with ETH and I'll be impressed. Cue the intellectualization from "investors."

Does programmatic money not sound exciting to you? I see way more skepticism than support on HN but it surprises me. Can you really not picture any uses for a financial system with Turing completeness?

The government needs to be in control of the money supply. Monetary and fiscal policy are important levers for maintaining the health of our economy. The government uses money to bolster trade, issue debt, maintain a high standard of living, etc.

Crypto is a bunch of investors and engineers that think that they should be in charge rather than our elected governments. It's not even a geniocracy since it rewards only early investors. It's an oligarchy of the lucky few that think they should have more leverage than governments and the populace. It disenfranchises the government's ability to help the poor, underserved, and disadvantaged.

Crypto not from the government is dangerous.

I predict that as this plays out more governments will move to shut it down.

Re: How to send $ETH in 19 lines of Python

#35

Post by zionic »

Is there a good replacement for hackernews? The crypto-skepticism that derails every single thread even tangentially related to crypto currency has totally undermined my desire to participate in this community. It appears the "hackers" have moved on.

Re: How to send $ETH in 19 lines of Python

#36

Post by voldacar »

echelon wrote: post #33
jtsiskin wrote: post #14

Earlier quoted context omitted.

Does programmatic money not sound exciting to you? I see way more skepticism than support on HN but it surprises me. Can you really not picture any uses for a financial system with Turing completeness?

The government needs to be in control of the money supply. Monetary and fiscal policy are important levers for maintaining the health of our economy. The government uses money to bolster trade, issue debt, maintain a high standard of living, etc. Crypto is a bunch of investors and engineers that think that they should be in charge rather than our elected governments. It's not even a geniocracy since it rewards only e…

> The government needs to be in control of the money supply.

Not interested in bureaucrats determining my purchasing power, sorry

Re: How to send $ETH in 19 lines of Python

#37

Post by anotha1 »

zionic wrote: post #32
anotha1 wrote: post #16

Earlier quoted context omitted.

I've been playing with programmatic money since selling runescape gold for PayPal dollars. I guess I just need more idk

Huh? That's not what "programmatic money" means. You're confusing it with digital currency. Programmatic money means you can define code/program with the money itself. In a trivial case I could easily program the money (called a smart contract) to pay you $1 every day. I could put $1000 in that contract and you could have near-total confidence of that payout schedule. The code itself is a property of that money, and…

Incorrect. You're confusing "enough trust to make the world go around" with "so trustworthy we're neglecting that it's bad for the world."

And I mean the latter more in terms of the brain drain than ecologically, which ironically may not get solved because of that brain drain.

Re: How to send $ETH in 19 lines of Python

#38

Post by echelon »

voldacar wrote: post #36
echelon wrote: post #33

Earlier quoted context omitted.

The government needs to be in control of the money supply. Monetary and fiscal policy are important levers for maintaining the health of our economy. The government uses money to bolster trade, issue debt, maintain a high standard of living, etc. Crypto is a bunch of investors and engineers that think that they should be in charge rather than our elected governments. It's not even a geniocracy since it rewards only e…

> The government needs to be in control of the money supply. Not interested in bureaucrats determining my purchasing power, sorry

Antarctica will be happy to have you. /s

But seriously, functional governments are what hold society together. We can't have a system without levers.

Re: How to send $ETH in 19 lines of Python

#39

Post by anotha1 »

echelon wrote: post #33
jtsiskin wrote: post #14

Earlier quoted context omitted.

Does programmatic money not sound exciting to you? I see way more skepticism than support on HN but it surprises me. Can you really not picture any uses for a financial system with Turing completeness?

The government needs to be in control of the money supply. Monetary and fiscal policy are important levers for maintaining the health of our economy. The government uses money to bolster trade, issue debt, maintain a high standard of living, etc. Crypto is a bunch of investors and engineers that think that they should be in charge rather than our elected governments. It's not even a geniocracy since it rewards only e…

While clearly an unpopular comment, the "investors" would like you to think that somehow the risks in crypto are any better than the comparably stable government system.
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