3 ms·
> Also, as much as I dislike ads I think web3/crypto grifting is worse. I feel ambivalent =\. I super briefly skimmed the crypto (BAT) token stuff. I think th
by ryan29 4y ago
> Also, as much as I dislike ads I think web3/crypto grifting is worse. I feel ambivalent =\.
I super briefly skimmed the crypto (BAT) token stuff. I think the general idea of earning tokens for searching and browsing is neat, but the way they're trying to use it directly as a microtransaction currency isn't super innovative.
I don't like crypto in general, but I think the "proof of idle capacity" tokens have stumbled onto something that could be valuable for online reputation because they invert economies of scale in a way.
Take something like Chia (XCH) as an example. As a typical user I can allocate some idle storage space to mining and, as long as I only mine while I'm browsing the internet, the incremental cost to me is basically $0. Compare that to someone building a rig specifically for mining. They have costs, I don't.
Assume I can opt in by plotting some proofs on idle storage and mining into a pool where rewards are split up and some of the rewards (aka tokens) can only be used for liking (ranking up) or disliking (ranking down) websites. Ex: 20% of your rewards go to the pool operator (search index), 5% can be donated directly to sites or creators you like, and 75% go to ranking (search reputation) which "burns" them. Adjust the ratios as needed.
A million normal users with 10GB of spare storage cancels out 10PB of storage from bad actors trying to game the system. IE: What's free for the masses is expensive to game and the more users hate your site, the more expensive it is for you to game the results. If you never give users "real" money (aka redeemable tokens) as rewards there's not much incentive to buy storage just to "earn" crypto currency, so hopefully you'd keep it limited to using truly idle resources only.
The search index (ex: Brave) could use the tokens as a currency for selling ads (ie: keywords) and that could be weighted by the reputation score of the site you're driving traffic to. In other words, the effectiveness of your ad buys is impacted by your existing reputation and if you have a site that everyone hates you'll eventually get to the point where ads for your keywords cost significantly more than competitors that are well liked.
Now everyone on Hacker News can tell me why that's a dumb idea :-) Lol.
- dubswithus 4y agoThere have discussions of requiring staking BAT for advertising on Brave search. Probably won't happen because BAT is meant to be a utility token and this could piss off the regulators. > I think the general idea of earning tokens for searching and browsing is neat, but the way they're trying to use it directly as a microtransaction currency isn't super innovative. Micropayments have never worked before. There's hope in the future if the network effect is strong we'll be able to pay a little bit of BAT for one NY Times article, etc.