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You say you've done research, i'm curious how you did the research? The standard go to reference from people who don't like crypto is now is a 2 hour video tha

by swalsh 5y ago

You say you've done research, i'm curious how you did the research? The standard go to reference from people who don't like crypto is now is a 2 hour video that makes zero effort to look for any good. It's not alone, there are hundreds of videos that make bad faith effort to "investigate" crypto. On the progressive left, for some reason it is becoming part of their culture to hate crypto (which is ironic considering a huge amount of their goals could be achieved easier using it) I will say though, the more I dug into crypto the more I see a lot of actually amazing things. I moved into the Avalanche chain, and it's a radically differenent experience from Bitcoin and ETH frankly. I don't think ETH or Bitcoin got close to accomplishing their vision, but AVAX is different. I'm making transactions all the time (I made almost 700 transactions last year... the taxes part absolutely sucks). I'm not going to try enumerate the ways I think crypto is useful but i'd question the sources you're using. One big thing i'd point out, the vision of crypto is still pretty far out. There are many infrastructure pieces missing. DAPP's Development seems WAY slower than centralized services. A smart contract is like hardware development. You basically want to get it perfect before you release it. Move fast and break things could mean a 50 million dollar hack in crypto. That doesn't make crypto useless or bad. Just a thing you need to think about. EDIT: I went back about 3 seconds after positing this to fix a spelling mistake, and I was downvoted. It would be nice to get a comment with each of your downvotes. In the past upvotes and downvotes were signal of quality (not agreement)

strken 5y ago
How is it a different experience? How is it actually amazing? I don't want you to enumerate the ways crypto is useful, I want you to give me one or two concrete use cases that aren't money laundering or buying illegal things.
- kayamon 5y ago
  Bitcoin has no unique use cases. It's simply a form of money that's secure, a worldwide trading economy that works. The reason that's interesting is because as humanity we never had one of those before.
- swalsh 5y ago
  I won't attempt to enumerate the ways that crypto is useful. But i'll tell you how I want to use it. But first, it's important to understand this. The actual foundations for what crypto can enable is still being built, so if you're expecting me to show you some "killer app"... i'm not going to show you a working version today. Is that because Crypto is vaporware? No, i'm seeing important stuff deployed all the time. It's because the underlying infrastructure is being built as we speak. One example, today ETH transactions are expensive. I bought an ENS domain (which hey, that's cool) the domain cost $5, but the gas cost $200. That's a problem. Fortunately, that's a problem people are working on. ETH is building out L2. AVAX (the chain I am most heavily invested in) is using something called subnets. A subnet for example allows you to have a custom VM, and isolate chain traffic (gas cost is a function of supply and demand for blockspace, if you both increase supply of blockspace, and decrease demand for specific blockspace you can reduce gas prices). The early examples of subnets are demonstrating this theory is true. With cheaper transactions, and custom VM's the application space will widen. On my preferred chain AVAX, that's stuff that is JUST now being released (like first one was deployed a few weeks ago). The stuff that is becoming popular today (Defi, NFT's etc) are foundational components. So with that laid out, here's my use case. I want to run a SaaS. How is a blockchain superior to "traditional" methods? A saas managed by a DAO has a central advantage. No employees. As a corporation i'm limited by the resources I have employed for me. Need a feature? Let me prioritize it, add it to a sprint etc. Corporations have employees, and they can only move as fast as those employees allow it. A DAO with zero employees has the entire internet as a potential contribution source. But unlike open source development, it's not done by "good will". You can pay people for their contributions in a trustless way that allows ANYONE to contribute and earn. Also, and this IS a benefit, in a future of GPT3 and AI assisted coding. There's probably going to be swarms of bots searching the space for work. Posting work, providing a way to pick it up, and integrate it into your project is going to be WAY faster in the blockchain space, than what corps will be able to acheive. But there's a few missing pieces before this can work. We have services like Akash, so throwing services into the blockchain is possible today. But managing a repository on the chain is not. I was contemplating using stateful precompiles in a Subnet VM to do this. The next problem is bridging SUCKS, but all these raw components are scattered around. That makes it difficult, even with the pieces defined to be combined. Solvable problems, but things that need to be solved.
booleandilemma 5y ago
You say you've done research, i'm curious how you did the research? The standard go to reference from people who don't like crypto is now is a 2 hour video that makes zero effort to look for any good. Responses such as this one make me think of the crypto-scene as some sort of weird techno-religion. Imagine writing something like this about using REST, a relational database, or a high-level language vs assembly. Imagine talking about a certain political faction “hating” dynamic typing. I’ll admit I had to stop reading your comment after the first paragraph.

by swalsh 5y ago

strken 5y ago

How is it a different experience? How is it actually amazing? I don't want you to enumerate the ways crypto is useful, I want you to give me one or two concrete use cases that aren't money laundering or buying illegal things.

kayamon 5y ago
Bitcoin has no unique use cases. It's simply a form of money that's secure, a worldwide trading economy that works. The reason that's interesting is because as humanity we never had one of those before.
swalsh 5y ago
I won't attempt to enumerate the ways that crypto is useful. But i'll tell you how I want to use it. But first, it's important to understand this. The actual foundations for what crypto can enable is still being built, so if you're expecting me to show you some "killer app"... i'm not going to show you a working version today. Is that because Crypto is vaporware? No, i'm seeing important stuff deployed all the time. It's because the underlying infrastructure is being built as we speak. One example, today ETH transactions are expensive. I bought an ENS domain (which hey, that's cool) the domain cost $5, but the gas cost $200. That's a problem. Fortunately, that's a problem people are working on. ETH is building out L2. AVAX (the chain I am most heavily invested in) is using something called subnets. A subnet for example allows you to have a custom VM, and isolate chain traffic (gas cost is a function of supply and demand for blockspace, if you both increase supply of blockspace, and decrease demand for specific blockspace you can reduce gas prices). The early examples of subnets are demonstrating this theory is true. With cheaper transactions, and custom VM's the application space will widen. On my preferred chain AVAX, that's stuff that is JUST now being released (like first one was deployed a few weeks ago). The stuff that is becoming popular today (Defi, NFT's etc) are foundational components. So with that laid out, here's my use case. I want to run a SaaS. How is a blockchain superior to "traditional" methods? A saas managed by a DAO has a central advantage. No employees. As a corporation i'm limited by the resources I have employed for me. Need a feature? Let me prioritize it, add it to a sprint etc. Corporations have employees, and they can only move as fast as those employees allow it. A DAO with zero employees has the entire internet as a potential contribution source. But unlike open source development, it's not done by "good will". You can pay people for their contributions in a trustless way that allows ANYONE to contribute and earn. Also, and this IS a benefit, in a future of GPT3 and AI assisted coding. There's probably going to be swarms of bots searching the space for work. Posting work, providing a way to pick it up, and integrate it into your project is going to be WAY faster in the blockchain space, than what corps will be able to acheive. But there's a few missing pieces before this can work. We have services like Akash, so throwing services into the blockchain is possible today. But managing a repository on the chain is not. I was contemplating using stateful precompiles in a Subnet VM to do this. The next problem is bridging SUCKS, but all these raw components are scattered around. That makes it difficult, even with the pieces defined to be combined. Solvable problems, but things that need to be solved.

booleandilemma 5y ago

You say you've done research, i'm curious how you did the research? The standard go to reference from people who don't like crypto is now is a 2 hour video that makes zero effort to look for any good. Responses such as this one make me think of the crypto-scene as some sort of weird techno-religion. Imagine writing something like this about using REST, a relational database, or a high-level language vs assembly. Imagine talking about a certain political faction “hating” dynamic typing. I’ll admit I had to stop reading your comment after the first paragraph.