7 ms·

Good lord. Pity the poor person out there trying to understand what is going on / what is block.xyz. At least we are told nothing will change with TBD54566975

Good lord. Pity the poor person out there trying to understand what is going on / what is block.xyz. At least we are told nothing will change with TBD54566975 (?). https://twitter.com/tbd54566975?lang=en https://twitter.com/tbd54566975?lang=en The bitcoin world is crazy.

rezistik 5y ago
It's only a 90 billion dollar company running a significant share of the POS market and peer to peer money market, why would they have a sensical, logical or straightforward parent site?
- slownews45 5y ago
  Exactly - and they are talking / working with at least some boring accountants in all of this who don't care if things are curated by Jay-Z in their point of sale and merchant clearing systems.
PragmaticPulp 5y ago
It has been fascinating to watch the corporate cryptocurrency world try so hard to project the fringe, edgy, anti-corporate nature of cryptocurrencies that attracted so many in the first place. All of these corporate cryptocurrency pushes have strong "How do you do, fellow children?" vibes. But the funny part is a lot of the crypto people are eating it right up, mostly because they have to accept any and all big business investment in the crypto space to further pump their own assets.
- babyshake 5y ago
  "How do you do, fellow children?" vibes. But it's curated by JAY-Z!
  - deleted 5y ago
    [deleted]
  - anonymouse008 5y ago
    Seriously this is the most valuable part of the website -- scraped and brought to my music streaming service.
- tdeck 5y ago
  > the fringe, edgy, anti-corporate nature of cryptocurrencies that attracted so many in the first place. That was the first wave. This much bigger wave is people like your uncle who's not tech savvy but bought $100 in Bitcoin because they heard you could get rich from it. The ideological component is just window dressing (eventually a lot of ideology becomes window dressing so that's not too unusual).
  - PragmaticPulp 5y ago
    > That was the first wave. This much bigger wave is people like your uncle who's not tech savvy but bought $100 in Bitcoin because they heard you could get rich from it Random uncles putting $100 into BitCoin isn't driving the market. Cryptocurrency is very corporate now, including a mix of shady corporations who love playing in this unregulated space. The average joe is just along for the ride, but they're being pitched the idea that decentralization is democratization. Meanwhile, there's nothing stopping a decentralized cryptocurrency from being owned by very centralized players. It is, after all, tradable by anyone.
    - ketzo 5y ago
      > Random uncles putting $100 into BitCoin isn't driving the market. No, but the companies providing easy ways for tens of thousands of uncles to put $100 into the market definitely are driving the market. See: Robinhood, Venmo, PayPal, Coinbase, etc.
  - d3ntb3ev1l 5y ago
    Jack paid 300 million for that playlist
    - webZero 5y ago
      Seriously? I do not know what is true anymore in this world. It feels like stupid people are running the show.
- base698 5y ago
  It more mirrors the "FOQNEs" or "Franchise-Organized Quasi-National Entities" from Snow Crash. Sovereign individuals that hold massive bitcoin stores can transact to anyone because they can afford the fees. Normies that can't will be beholden to these large corporate interest. Transferring money to a business or person will happen in a database in Coinbase or other exchange, much like now with a bank. Settlement will happen between banks and organizations they've partnered with. For the common person the interface will be the same. Settlement between organizations will change.
  - dustintrex 5y ago
    I'd like to say that the fees are an artifact of the poor scaling of both Bitcoin and Ethereum, but proof of work schemes are by design horrendously inefficient and suggested alternatives like proof of stake have yet to be proven in practice.
keyle 5y ago
I just looked through the specifications of that thing, it's mental, and still relies on "trusted third parties"(?)
- wmf 5y ago
  KYC inherently requires trust.
chana_masala 5y ago
This looks really amateur and tacky. I can't believe this is real.

rezistik 5y ago

It's only a 90 billion dollar company running a significant share of the POS market and peer to peer money market, why would they have a sensical, logical or straightforward parent site?

slownews45 5y ago
Exactly - and they are talking / working with at least some boring accountants in all of this who don't care if things are curated by Jay-Z in their point of sale and merchant clearing systems.

PragmaticPulp 5y ago

It has been fascinating to watch the corporate cryptocurrency world try so hard to project the fringe, edgy, anti-corporate nature of cryptocurrencies that attracted so many in the first place. All of these corporate cryptocurrency pushes have strong "How do you do, fellow children?" vibes. But the funny part is a lot of the crypto people are eating it right up, mostly because they have to accept any and all big business investment in the crypto space to further pump their own assets.

babyshake 5y ago
"How do you do, fellow children?" vibes. But it's curated by JAY-Z!
- deleted 5y ago
  [deleted]
- anonymouse008 5y ago
  Seriously this is the most valuable part of the website -- scraped and brought to my music streaming service.
tdeck 5y ago
> the fringe, edgy, anti-corporate nature of cryptocurrencies that attracted so many in the first place. That was the first wave. This much bigger wave is people like your uncle who's not tech savvy but bought $100 in Bitcoin because they heard you could get rich from it. The ideological component is just window dressing (eventually a lot of ideology becomes window dressing so that's not too unusual).
- PragmaticPulp 5y ago
  > That was the first wave. This much bigger wave is people like your uncle who's not tech savvy but bought $100 in Bitcoin because they heard you could get rich from it Random uncles putting $100 into BitCoin isn't driving the market. Cryptocurrency is very corporate now, including a mix of shady corporations who love playing in this unregulated space. The average joe is just along for the ride, but they're being pitched the idea that decentralization is democratization. Meanwhile, there's nothing stopping a decentralized cryptocurrency from being owned by very centralized players. It is, after all, tradable by anyone.
  - ketzo 5y ago
    > Random uncles putting $100 into BitCoin isn't driving the market. No, but the companies providing easy ways for tens of thousands of uncles to put $100 into the market definitely are driving the market. See: Robinhood, Venmo, PayPal, Coinbase, etc.
- d3ntb3ev1l 5y ago
  Jack paid 300 million for that playlist
  - webZero 5y ago
    Seriously? I do not know what is true anymore in this world. It feels like stupid people are running the show.
base698 5y ago
It more mirrors the "FOQNEs" or "Franchise-Organized Quasi-National Entities" from Snow Crash. Sovereign individuals that hold massive bitcoin stores can transact to anyone because they can afford the fees. Normies that can't will be beholden to these large corporate interest. Transferring money to a business or person will happen in a database in Coinbase or other exchange, much like now with a bank. Settlement will happen between banks and organizations they've partnered with. For the common person the interface will be the same. Settlement between organizations will change.
- dustintrex 5y ago
  I'd like to say that the fees are an artifact of the poor scaling of both Bitcoin and Ethereum, but proof of work schemes are by design horrendously inefficient and suggested alternatives like proof of stake have yet to be proven in practice.

keyle 5y ago

I just looked through the specifications of that thing, it's mental, and still relies on "trusted third parties"(?)

wmf 5y ago
KYC inherently requires trust.

chana_masala 5y ago

This looks really amateur and tacky. I can't believe this is real.