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Starting a crypto project

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Re: Starting a crypto project

#351

Post by reedjosh »

marcus_holmes wrote: post #336
reedjosh wrote: post #244

Earlier quoted context omitted.

There's degrees in everything. Permissionless--nobody can stop a transaction from taking place because of ideology. Decentralised--the miners and the software devs have to agree on something to make a hard change. This has happened so rarely as to be a non-issue. When it does happen, the currency forks and those that want to use it can do so as they please. BTC became LiteCoin, BCH, and BSV from hard protocol forks.…

Yeah, but you probably rely on a wallet provider, which messes with most of this. The wallet provider can absolutely block a transaction for ideological reasons, and requires you to trust it, and so on. You need to be pretty techy to verify a transaction in the chain yourself, or do any of the other things you talk about. A non-technical person can't do this. They have to trust other people. This really isn't differe…

> You probably rely on a wallet provider

Nope, Cardano, Monero, Polkadot, Tezos and ARRR all kept in my own wallet--backed up with seed phrases.

I don't keep BTC as I think it's basically crippled (TPS). I have individual wallets for each on both my PC and phone. I'm staking DOT, XTZ, and ADA from my PC wallets.

> In 5 years you can name 5 hard forks in the major currencies.

BTC has been around for 13 years--not 5.

The forks are success stories. Further, forks grant holders equal amounts on each chain--so no coin is lost in this way.

The Hive fork remains a great example of on chain (Proof of Stake) governance, and having beat back a centralized hostile takeover, came back valued higher in post.

> A non-technical person can't do this.

But it's at least possible. Would you discount science and technology purely because you don't understand it?

Re: Starting a crypto project

#352

Post by henvic »

andxor wrote: post #329
henvic wrote: post #316

Earlier quoted context omitted.

You don't see that most proof-of-stake still requires a tremendous amount of energy and resources wasted at the very least for the stupid mining process?

Uh? There's no mining in proof of stake. That's the entire point.

I thought this when I first learned about the idea, but the name doesn't give away the true nature of, at least, most implementations... It's like 'mining requires less energy', and not that the tokens aren't mined at all.

Of course, theoretically you could've an initial distribution defined and shared without effort, but what really happens is a points system that makes it easier for people to... uh... mine, but it's obviously still the same awful idea.

Re: Starting a crypto project

#354

Post by epinephrinios »

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…

DeFi: Removing middlemen (and their fees) as well as discrimination based on arbitrary criteria from all kinds of financial services. Also, these services can easily run 24/7.

Re: Starting a crypto project

#355

Post by garmaine »

anaxag0ras wrote: post #348
garmaine wrote: post #322

Earlier quoted context omitted.

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.

I feel the same. Not something I want to be associated with at all…

Re: Starting a crypto project

#356

Post by reedjosh »

marcus_holmes wrote: post #234
noxer wrote: post #164

Earlier quoted context omitted.

Imagine how awesome it would be if you could search for a movie choose the service that current has the best cost/byte ratio for your location (they can make this variable to manage load). Then you start streaming. No registering needed. Not even a login. After 10 min you notice the film sucks so you stop the stream. You only payed for the first 10 min. Totally friction-less ofc. You could watch on a random TV anywhe…

this sound great. I'd cancel my Netflix sub and go for this in an instant. Now go pitch it to the 50+ copyright owners that you'd need to convince to make this happen. Strong hint: it's not going to happen. The people who own the content you want to stream like this have no incentive to make it work like this. If they could go back in time and say "no" to Spotify, they would.

> Now go pitch it to the 50+ copyright owners that you'd need to convince to make this happen.

How about instead I pitch it to people that make content I _actually_ want to see. The Netflix/Spotify thing was just an analogy. Before youtube became big brother, the majority of content I watched was there.

I'm personally sick of the `50+ copyright owners` homogenizing our culture into bland idiotic sludge. My hope is the `50+ copyright owners` lose all power and wither away.

Re: Starting a crypto project

#357

Post by hankthecat »

1experience wrote: post #117
pattusk wrote: post #45

Earlier quoted context omitted.

I said most because indeed most of the innovation, both technical and cultural originates from Ethereum. But DOGE, XRP, ADA, LTC, BCH, TRON, ETC. EOS, NEO, BSV are all in the top 25 and have nothing to show for it despite being some of the oldest players in the space. The L2 projects on Bitcoin are not new and they've never brought anything revolutionary. And I think BTC is fine without L2, it's a very different phil…

There is no rationale here to be found, You are comparing an insane bubble (Doge, etc.) to a regular bubble (Avalanche, etc.). People have completely lost the value of money, do you realize how much money is $4.5 billion? In 2007 Apple had a market cap of 80 billion and a P/E ratio of 26, it had revolutionary products on the market that were clearly going to change an entire industry while at the same time bringing i…

I mean 80 billion in 2007 dollars would be $100 trillion today. So 4.5 billion today is obviously a lot less money using your example.

you need to adjust for inflation if you're going to use a valuation that is 14 years old.

Re: Starting a crypto project

#358

Post by notJim »

uh-quan wrote: post #346
XorNot wrote: post #298

Earlier quoted context omitted.

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…

This seems detached from reality.

* Governments can and have confiscated bitcoin

* they can stop transactions by blocking access to wallets and exchanges etc

* They're a terrible medium for savings, unless you want your savings account to routinely swing wildly up and down in value

* 99.9% of people interested in Bitcoin do not care about these supposed benefits (which I'm skeptical even exist.) Yes there are the handful of goldbugs and libertarians, but most just want to see the number go up.

Re: Starting a crypto project

#359

Post by mtalantikite »

noxer wrote: post #156
mtalantikite wrote: post #139

Earlier quoted context omitted.

> Start with coil.com what they do it not possible with the financial system. They enable users to stream money to content creator in real time with fractions of cents per second. A central system would not make any sense. I’m sorry, what? Genuinely curious about what the use case is here, I’ve never heard of this before. I pay based on the amount of time I consume?

Currently Coil costs you 5 bucks a month and its distributed to the content creators that you consume on the basis of how long you consume them. The Creator must have a web monetization enabled website [1] to participate. And you need either an add-on or a browser that has it integrated. The creator can show/hide content based on whether you stream money or not (kinda like a paywall) Its obviously intentional very si…

Isn’t this roughly similar to what Spotify does? You get paid based on how many listeners you have? Or YouTube paying the content hosts a split on ad revenue? I guess I’m not sure what crypto solves here that doesn’t actually already happen. Isn’t Coil just another centralized place you pay that then pays out to its network, like everyone else?

Re: Starting a crypto project

#360

Post by uh-quan »

notJim wrote: post #358
uh-quan wrote: post #346

Earlier quoted context omitted.

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…

This seems detached from reality. * Governments can and have confiscated bitcoin * they can stop transactions by blocking access to wallets and exchanges etc * They're a terrible medium for savings, unless you want your savings account to routinely swing wildly up and down in value * 99.9% of people interested in Bitcoin do not care about these supposed benefits (which I'm skeptical even exist.) Yes there are the han…

This is all well-trodden ground.

First, if you are concerned about things like confiscation, then you take the recommended security steps such as running your own node. At that point confiscation is indeed difficult (not impossible) and blocking access is essentially impossible. A government would have to prevent you and anyone who could act on your behalf from having any access to the Internet in order to stop the transaction being propagated on the network.

As for savings: I stand by my assertion. In its early years, yes, bitcoin is going to be volatile. But as anyone who has held bitcoin for 3+ years knows, it retains and grows value over the course of years exceptionally well. Savings implies a medium- and longer-term horizon — think years, not months — and on that horizon bitcoin has always been a winner.

I think there are more people in this world who care about the harms of inflation and capital controls than you are giving credit to. I care about preserving my wealth from debasement, as do all of the people I happen to know who hold bitcoin. And I suspect I might have a better feel for the "pulse" of bitcoin users than your 99.9% estimate, which (forgive me) strikes me as being detached from reality.

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