4 ms·

I'm thinking a database.

v64 7y ago
If you're willing to trust the entity holding your assets, then a database will suffice. The non-custodial features of 0x enable exchange without reliance on third parties.
- nosuchthing 7y ago
  The reliance on the severely distorted plutocratic ownership of 0x, Ethereum, and most of the cryptocoin supplies is a huge risk factor that is often conveniently swept under the rug. By building on 0x, or other cryptocoin software it's essential to be aware of the elephants/whales in the "economy" of cryptocoins and tokens.
  - v64 7y ago
    Agreed, especially with respect to Ethereum's governance. The ETC/ETH fork is still fresh in many peoples' minds.
    - arcticbull 7y ago
      Yeah that was brutal; the definition of oh, you lost a few thousand dollars? That sucks ETH transactions are irreversible. Now I lost a few hundred million so all of a sudden it’s reversible, no harm no foul -- and most importantly, no lessons were learned that day.
- banachtarski 7y ago
  Yea I mean, if we're going to go down the hole of "cryptokitties" and other asset exchange, let's be honest, we're reliant on a third party to create the value in the first place already.
  - rickycook 7y ago
    judging a cryptocurrency projects usefulness on cryptokitties is like judging a front end frameworks usefulness on “TODO MVP”: it’s just the example of a tradable asset that everyone uses BECAUSE it has no value and anyone can just set it up to test. substitute crypto kitties with something more real, like say a government starts to issue ownership information for cars (pink slips in the US i think? idk exactly) on the blockchain... there’s live, traceable ownership information, duties can be calculated and applied automatically, and traded on a platform like this. this is an asset that has real value because it exists in the real world; it’s not the bit of paper that has value, it’s the significance that it constitutes ownership of an asset *EDIT: and i’m not saying that this idea has value either; it was just an example of something with intrinsic value rather than “third party created value”
    - arcticbull 7y ago
      > judging a cryptocurrency projects usefulness on cryptokitties is like judging a front end frameworks usefulness on “TODO MVP” If you sold one of your TODO notes for $170,000 [1] frankly I think that'd be a fair judgement to make. > substitute crypto kitties with something more real, like say a government starts to issue ownership information for cars (pink slips in the US i think? idk exactly) on the blockchain... there’s live, traceable ownership information, duties can be calculated and applied automatically, and traded on a platform like this. this is an asset that has real value because it exists in the real world; it’s not the bit of paper that has value, it’s the significance that it constitutes ownership of an asset You know you can do that with a database right? Literally, a database. Like we have today. That's how it works today. You're trying to introduce complexity and inefficiency into the US government. It's like trying to sell ice blocks in the arctic, but somehow dramatically less efficient. I already trust the government to allow me to drive my car. Why on earth does this need to be decentralized? It's the definition of centralized. A vehicle registration reflects the governments acknowledgement that you own that vehicle and are allowed to drive it at the governments discretion. If they revoke it your blockchain entry will be totally worthless and just out of sync with reality. The value is created by the government. [1] https://ethereumworldnews.com/worlds-expensive-cryptokitty-600-eth/ https://ethereumworldnews.com/worlds-expensive-cryptokitty-6...

v64 7y ago

If you're willing to trust the entity holding your assets, then a database will suffice. The non-custodial features of 0x enable exchange without reliance on third parties.

nosuchthing 7y ago
The reliance on the severely distorted plutocratic ownership of 0x, Ethereum, and most of the cryptocoin supplies is a huge risk factor that is often conveniently swept under the rug. By building on 0x, or other cryptocoin software it's essential to be aware of the elephants/whales in the "economy" of cryptocoins and tokens.
- v64 7y ago
  Agreed, especially with respect to Ethereum's governance. The ETC/ETH fork is still fresh in many peoples' minds.
  - arcticbull 7y ago
    Yeah that was brutal; the definition of oh, you lost a few thousand dollars? That sucks ETH transactions are irreversible. Now I lost a few hundred million so all of a sudden it’s reversible, no harm no foul -- and most importantly, no lessons were learned that day.
banachtarski 7y ago
Yea I mean, if we're going to go down the hole of "cryptokitties" and other asset exchange, let's be honest, we're reliant on a third party to create the value in the first place already.
- rickycook 7y ago
  judging a cryptocurrency projects usefulness on cryptokitties is like judging a front end frameworks usefulness on “TODO MVP”: it’s just the example of a tradable asset that everyone uses BECAUSE it has no value and anyone can just set it up to test. substitute crypto kitties with something more real, like say a government starts to issue ownership information for cars (pink slips in the US i think? idk exactly) on the blockchain... there’s live, traceable ownership information, duties can be calculated and applied automatically, and traded on a platform like this. this is an asset that has real value because it exists in the real world; it’s not the bit of paper that has value, it’s the significance that it constitutes ownership of an asset *EDIT: and i’m not saying that this idea has value either; it was just an example of something with intrinsic value rather than “third party created value”
  - arcticbull 7y ago
    > judging a cryptocurrency projects usefulness on cryptokitties is like judging a front end frameworks usefulness on “TODO MVP” If you sold one of your TODO notes for $170,000 [1] frankly I think that'd be a fair judgement to make. > substitute crypto kitties with something more real, like say a government starts to issue ownership information for cars (pink slips in the US i think? idk exactly) on the blockchain... there’s live, traceable ownership information, duties can be calculated and applied automatically, and traded on a platform like this. this is an asset that has real value because it exists in the real world; it’s not the bit of paper that has value, it’s the significance that it constitutes ownership of an asset You know you can do that with a database right? Literally, a database. Like we have today. That's how it works today. You're trying to introduce complexity and inefficiency into the US government. It's like trying to sell ice blocks in the arctic, but somehow dramatically less efficient. I already trust the government to allow me to drive my car. Why on earth does this need to be decentralized? It's the definition of centralized. A vehicle registration reflects the governments acknowledgement that you own that vehicle and are allowed to drive it at the governments discretion. If they revoke it your blockchain entry will be totally worthless and just out of sync with reality. The value is created by the government. [1] https://ethereumworldnews.com/worlds-expensive-cryptokitty-600-eth/ https://ethereumworldnews.com/worlds-expensive-cryptokitty-6...