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Web3? I have my DAOts

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Re: Web3? I have my DAOts

#431

Post by garmaine »

hihihihi1234 wrote: post #386
lottin wrote: post #375

Earlier quoted context omitted.

Satoshi also predicted hyperinflation in 2008 after central banks intervened to mitigate the financial crisis. He was most likely a computer scientist, definitely not an economist.

He was most likely this computer scientist: https://en.m.wikipedia.org/wiki/Hal_Finney_(computer_scienti...

Hal Finney was not Satoshi, and there's not a single shred of evidence in that wiki article pointing towards him. Instead it's just his grieving family being traumatized by scammers.

Re: Web3? I have my DAOts

#432

Post by psychstudio »

NicoJuicy wrote: post #210
narrator wrote: post #164

Earlier quoted context omitted.

The thing I think driving Bitcoin is that all the other assets that can absorb billions of dollars in liquidity are throughly manipulated. A trillion dollars goes into Sovereign Debt. The government can issue endless sovereign debt to dilute that. A trillion dollars goes into the stock market. The companies on the stock market can issue tons and tons of new shares to dilute that. A trillion dollars goes into paper go…

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.

Bitcoin is completely unrelated to tether. Bitcoin is highly decentralised. Bitcoin is not moving to PoS.

I'm not sure what your actual gripe is, but you certainly have no idea what you're talking about.

Re: Web3? I have my DAOts

#433

Post by GuB-42 »

fnord77 wrote: post #294
gitfan86 wrote: post #206

Earlier quoted context omitted.

Actually the opposite thing happens in the stock market. The shareholders vote on the board of directors and the board of directors pay the CEO mostly based on the stock price going up. One way they do that is buying back shares. Another way is buy making money via positive cashflow and giving dividends to the share holders. Bitcoin has negative cashflow, the only way it goes up is by more people putting money into i…

funny enough, high value art is used for money laundering all the time

Not sure about Picassos. Picasso was a world famous artist that even those who are not into fine art know and appreciate. There is kind of a consensus on the value of his work, and even those who find it ugly won't treat it as trash.

The way I understand it, the kind art that is most often used in money laundry schemes is the more controversial kind. When some people think that a painting is a waste of perfectly good canvas while some rick collectors think it is the expression of god himself, how can you assign a value? This extreme subjectivity is what makes it ideal for money laundering.

Re: Web3? I have my DAOts

#435

Post by spoonjim »

The only way any of this is ever meaningful is if it interacts with the non-Web3 world in a defined or enforced way. If there is an NFT that the US Copyright Office can enforce as being tied to the copyright of The Hunger Games, then that is definitely a valuable and tradable asset. Otherwise it's just one person telling another person that their Hunger Games DVD is super duper special.

Re: Web3? I have my DAOts

#436

Post by lottin »

ThomPete wrote: post #430
lottin wrote: post #425

Earlier quoted context omitted.

Not at all, blockchains can't enforce intellectual property rights either. For example, how is a blockchain going to stop an individual from using unlicensed content on their website?

Thats not what is meant by it being enforcable. You are confusing things here. With enforcable, what is meant is anything that can be programmed into a contract and be executed will be executed (enforced). That can as an example be someone raising a million dollars for a crypto game by offering 10000 tokens for 100$ each. The million dollars are going to be unlocked in phases. 50k for proof of concept, 250k for alpha…

We already know what "enforce" means. You said blockchains can enforce "digital" whatever that means. The only thing blockchains can "enforce" is that data are added to the chain according to some rules. There isn't any type of property right, digital or real, that can be enforced in this way.

Re: Web3? I have my DAOts

#437

Post by rzanella »

AnthonyMouse wrote: post #368
boc wrote: post #362

Earlier quoted context omitted.

Nah the corporation is the rock - they aren't a market participant so them paying you and your friends a dividend isn't a net loss in the market for rocks. Instead simply holding rocks and not trading them is still generating money for the market participants. Bitcoin doesn't generate intrinsic value from a business operation - it's just a digital version of a rock. There's no money for it to pay out. Therefore you h…

> Nah the corporation is the rock - they aren't a market participant so them paying you and your friends a dividend isn't a net loss in the market for rocks. Except that it makes the rocks not worth as much. You had a corporation with a million dollar business and a million dollars in cash. It pays out the million dollars in cash as dividends. Now the rockholders have a million dollars in rocks and a million dollars…

> You, the holder of rocks, get the increase in business value as "rock price appreciation" rather than dividends, but you still get it.

So BTC for you is at the same time an asset AND a currency ?

How does it work ? It goes to the moon forever, so a loaf of bread cost goes ever higher forever ?

Re: Web3? I have my DAOts

#438

Post by streamofdigits »

mattwilsonn888 wrote: post #45

Commentators on crypto will simply have to get used to this - because it isn't an argument. > For that same reason, I think people can genuinely believe they're obsessed with web3 because of its inherent interestingness when in fact it’s because web3 has made them a lot of money very quickly. The nature of crypto-currencies means that you are free to invest in protocols you believe will make money - either by providi…

I have come to appreciate hacker news because of its (broadly) critical stance on crypto. Nobody can accuse this demographic as "not understanding" the math, which is a common bullying tactic in the crypto universe. Nobody can accuse this demographic as not interested in earning a living in technology either.

But the kind of digital universe we shape, the kind of behaviors being rewarded by the systems put in place, this seems to matter to a lot of smart people and that is quite promising.

Re: Web3? I have my DAOts

#439

Post by meheleventyone »

AnthonyMouse wrote: post #360
meheleventyone wrote: post #358

Earlier quoted context omitted.

I think Animats is calling it zero sum because the value of Bitcoin is essentially based on speculation rather than use so relies on new entrants to prop it up and the coins are generated within the system. Basically new coins do not represent new dollars coming in and generating new coins all the time is inherently deflationary. So not only do you need demand to outstrip supply to keep the value going up you also ne…

> I think Animats is calling it zero sum because the value of Bitcoin is essentially based on speculation rather than use so relies on new entrants to prop it up and the coins are generated within the system. This really depends on what you think is going to happen going forward. Surely the current value is propped up by speculation, but are the speculators right? Is future-Bitcoin going to be very useful and thus va…

That’s the nature of speculation. I was more commenting on why calling it zero-sum makes sense.

Re: Web3? I have my DAOts

#440

Post by shawabawa3 »

grey-area wrote: post #373
narrator wrote: post #164

Earlier quoted context omitted.

The thing I think driving Bitcoin is that all the other assets that can absorb billions of dollars in liquidity are throughly manipulated. A trillion dollars goes into Sovereign Debt. The government can issue endless sovereign debt to dilute that. A trillion dollars goes into the stock market. The companies on the stock market can issue tons and tons of new shares to dilute that. A trillion dollars goes into paper go…

all the other assets that can absorb billions of dollars in liquidity are throughly manipulated Bitcoin is thoroughly manipulated. Tether is minting a billion dollars a day now, with zero oversight and close ties to the major exchanges. Exchanges themselves have been found front running customers, running wash trades on their own coins etc etc. Fraud is rampant in this space and there is zero oversight from the norma…

> trillions of dollars that tether has minted

Tether has "only" minted $78 billion, not trillions

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