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Starting a crypto project

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Re: Starting a crypto project

#341

Post by noxer »

arcticbull wrote: post #266
zaphar wrote: post #218

Earlier quoted context omitted.

This conversation is odd. Someone says there are no real world use cases. Someone else says yes there is and poses one. Former person points out that in fact that example just makes their point for them. The counter is well there has to be some use case because there are theoretically an infinite number of them. We just have to find one from that set. This example right here. It presumes that content creators will ha…

Sorry for the confusion what I meant was this is achievable today, but instead people opt to avoid micropayments and instead want to watch ads + get the content free, or pay for an all you can eat model. Everyone’s thought about micropayments. For decades. They’ve tried it many times. There’s no technological reason today that micropayments couldn’t be adopted overnight. They reason they aren’t is because people don’…

>People don’t want to continuously make judgements about whether they’re getting good value for money in their content - especially their entertainment content.

Why dont you look into the things we talked about here? See coil.com its a flat-rate system you are never bothered to decided if what you see is "worth the money" you just see that it streams money and you know its roughly halve a cent per minute. If the content sucks you leave because obviously you want the money to go to something you like. But that's already the default behavior anyway.

Re: Starting a crypto project

#342

Post by noxer »

e12e wrote: post #221
noxer wrote: post #199

Earlier quoted context omitted.

That not what coil does. Coils is just payment provider for web monetization. You can use another (probably none exist so far) and more importantly you can use web monetization outside of coil owned platforms. The cam site thing maybe look similar on the surface but its not. It only works in very limited full controlled closed system. It can not scale to the web. You would need 100+ subscriptions in the end that not…

> you can use web monetization outside of coil owned platforms. Like you can use PayPal to sell (access to) digital assets? Or patron? I'm not sure which part of the core value proposition of coil has anything to do with blockchain? And small wonder: crypto/chains allows us to transfer trust (eg, I trust i can buy milk for my dollar, I buy bitcoin for a dollar, I give you bitcoin, if you can sell bitcoin for a dollar…

The question you have could easy be answer by yourself if you just go to the official page and read for 5 minutes what they are doing and how.

Coil primary uses ILP its not a blockchain its a protocol it can use fiat or "magic crypto cash on the interwebz" its irrelevant.

>This could also go via bank transfer, or hybrid systems like PayPal,stripe or vipps[1].

As soon as they support ILP yes, it could use whatever that's the whole point. An open standard/protocol where everyone can join and offer competing service and 2 parties can transact with each other regardless of whos underlying service they use.

Like email. I dont care whos your email provider I just need your address and it works. The IPL equivalent is called Interledger Payment Pointer. Again has nothing to do with blockchain.

If you actually are interested its now up to you to read more about it. I wont go any further with this discussion.

Re: Starting a crypto project

#343

Post by noxer »

swensel wrote: post #249
arcticbull wrote: post #118

Earlier quoted context omitted.

No it's not that, there's not a single blockchain based solution that achieves better results than a classical solution. Not a single one. Never has been. Not in 14 years. I'm open to one showing up! But, well, it hasn't. And that's because there's a huge fundamental cost to trustlessness, decentralization and permissionlessness that substantially no project actually benefits from.

Bitcoin is a worldwide network storing $1 trillion in value without a central party or government. That has never happened before. Are you sure you're just not open to considering the technology at all? Ethereum is another one to look more into. Smart contracts are doing things that no classical solution has ever done. Have you done a deep dive on how the technology of Bitcoin or Ethereum actually work? FWIW, I think…

>Bitcoin is a worldwide network storing $1 trillion in value

It hurts man. Market cap is not how much money is stored.

Have a read https://coil.com/p/XRPFax/Understanding-the-Crypto-Market-Ca...

Re: Starting a crypto project

#344

Post by noxer »

arcticbull wrote: post #268
tjs8rj wrote: post #225

Earlier quoted context omitted.

I’m jaded with the crypto-scammery too, but isn’t lower fees with 24/7 instant transactions the selling point? (For low fees think Binance not Coinbase).

That doesn’t require the blockchain. The US is moving from ACH to RTP, which is 24/7 instant approximately free transfers between bank accounts. [1] My understanding is the reason it took so long was small banks wanted to figure out a risk management model. [1] https://www.theclearinghouse.org/payment-systems/rtp

These system do not work outside the justification where they are made.

Domestic Tx are fast and cheap because all parties involved have agreements and the same laws etc. etc. Cheating between local banks is rather useless because there is some kind of overload (the sate/a judge) that can order stuff to be reversed.

Blockchains are for when no such trust/power based system is in place.

So if you send USD to Mexico for example. You exchange USD to crypto send crypto to Mexico and sell it there to get MXN. The crypto transaction is final there is no reversing, it can not be unfunded, frozen or anything. The receiver doesn't need any kind of trust relationship to the sender. Its either transacted or not and both sides can independently verify that. Its not just a real time transaction its also a instant settlement (clearing). Other way to make settlement is if you move physical cash or gold but there goes the "instant" part.

Re: Starting a crypto project

#346

Post by uh-quan »

XorNot wrote: post #298
wonderwonder wrote: post #274

Earlier quoted context omitted.

To be fair though that's most things. That's the very purpose of the stock market. When you buy a stock most of the time most people don't care what the company it represents does, they just want the stock to go up. Same thing can be applied to most things there are vast warehouses full of art people will never see as its just owned as a tax dodge / speculation. Heck most of us work jobs we hate for nothing but money…

All those things still produce tangible goods at the end though, is the difference. I can hate my job but at the end of the day I still created value for my employer. Companies on the stock market still create actual value for people, even if shareholders don't particularly care how they do it.

Bitcoin produces a money that cannot be debased by inflation on a whim and which is very hard to forcibly confiscate. It can be transferred in minutes to any place on the globe, across any number of borders and past any capital controls, with transactions that cannot be stopped or censored by even the most powerful and invasive government on Earth. It's a safe haven from fiat currencies and almost a perfect medium of savings.

Unless we are working with a weird and strict definition of "tangible," I'd say it's tangible good that is, rightly, valued by many millions of people.

Re: Starting a crypto project

#347

Post by wonderwonder »

XorNot wrote: post #298
wonderwonder wrote: post #274

Earlier quoted context omitted.

To be fair though that's most things. That's the very purpose of the stock market. When you buy a stock most of the time most people don't care what the company it represents does, they just want the stock to go up. Same thing can be applied to most things there are vast warehouses full of art people will never see as its just owned as a tax dodge / speculation. Heck most of us work jobs we hate for nothing but money…

All those things still produce tangible goods at the end though, is the difference. I can hate my job but at the end of the day I still created value for my employer. Companies on the stock market still create actual value for people, even if shareholders don't particularly care how they do it.

They do, but is the stock an actual tangible good? Companies with identical financials are not valued the same way. Look at a company like Tesla, its stock is pure speculation. I cannot physically hold my stock other than a piece of paper maybe that says I hold it. I cannot really do anything with it except hope to sell it to someone else for more money. It does not really grant me ownership If I tried to walk into an amazon warehouse screaming I an owner, I would be locked up and committed.

Re: Starting a crypto project

#348

Post by anaxag0ras »

garmaine wrote: post #322
mosselman wrote: post #65

I see lots of people in the thread, including the author, that have avatars with glowing eyes. Can someone explain what this is about? Is this some sub cultural thing?

It’s a really immature bitcoin maximalist meme.

I don't know if its just me but Bitcoin maximalists and their stupid laser eye has a cult like vibe to it.

Re: Starting a crypto project

#349

Post by bitxbitxbitcoin »

B-Con wrote: post #327
Luker88 wrote: post #91

As someone interested in all of cryptography, I cringe every single time when we call blockchain "crypto". Sure, there's cryptography in it. But you don't call a mail or http server "crypto". There's similar tech in git, we don't call it "crypto", we call it VCS. Calling this "crypto" is just trying to add a mystic aura for stuff people don't understand, to further muddy the waters. We have a word for this technology…

I moderate r/crypto . It's about cryptography, not cryptocurrency. Imagine the spam we get.

Not all heroes wear capes. I'm also a mod on some subs so I can only imagine the spam you get.

Re: Starting a crypto project

#350

Post by bitxbitxbitcoin »

aero- wrote: post #290

Still waiting for someone to name one singular measurable impact of a crypto project. It's a solution that's been searching for a problem for over 10 years. Decentralized, distributed, blah blah, stop drinking the koolaid. Is a network controlled primarily by 4 mining companies decentralized? Do you need a distributed network to sell NFTS that are only useable within the world of a specific video game company? (game…

> Name a reason why you should leave your FDIC insured government backed bank for a 3rd party wallet and incur transaction fees, gas fees, fraud, hacks ect that are equivalent to wire transfer fees cbx fees ect.

For so many people the answer is simply: higher interest rates.

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