cslarson

6 ms·

31.
by cslarson 5y ago
> the crypto world is full of useless memecoins This criticism should really end - yes, it misleads many people! Creating a decentralised app, or a token, is permisssionless! Yes, anyone anywhere can do it. Much like publishing a website
32.
by cslarson 5y ago
> Yet if we value these assets in terms of traditional valuation models we find they should be worth absolutely nothing. This is the core tenet that these skeptics get lost with - the premise that there is no real central value to blockc
33.
by cslarson 5y ago
So yes there is an original keypair that establishes the data. But ones established it can be fixed in a verifiable way. A game client, community of art lovers, government agency, social consensus, then recognizes that nft as corresponding
34.
by cslarson 5y ago
The game client reads only canonical game assets - you can't just add any nft willy nilly. An nft can also include a hash of some offchain data. In this way it can make a verifiable claim about content.
35.
by cslarson 5y ago
The developers cannot make something trustlessly unique. If they control the database it is a simple query to up the count to 2!
36.
by cslarson 5y ago
it's up to the nft originator to assign ownership in just one jurisdiction. if they create and sell multiple nfts in different venues, but for the same item, then i imagine that would damage their reputation and the value of their prio
37.
by cslarson 5y ago
You cannot create duplicate NFTs. That is the whole point. The reason to have NFTs (and also fungible tokens) in games is that the gamers would know and be able to trust that the quantity of a given item was fixed. There may be more appeal
38.
by cslarson 5y ago
The blockchain is the database. It stores objects and, like postgres, can store code for manipulating the objects. Each NFT would have a particular storage location which you can query, either directly via a block explorer like etherscan.io
39.
by cslarson 5y ago
NFTs and Bitcoin are both forms of tokens, which represent digital property rights. The parent comment almost certainly understands this and was talking more broadly about forms of digital ownership. So your blasting them was kind of cringe
40.
by cslarson 5y ago
Property is social consensus. Blockchains offer a more convenient and useful way to record that social consensus.
41.
by cslarson 5y ago
> and claim they own it. But that claim means nothing if the in-game asset is not recognized in the game, and that copied artwork is for some crazy reason not recognized by other interested parties as the actual original NFT. None of the
42.
by cslarson 5y ago
You can't sell a private key because you can't provably delete any potential remaining copies you might have. You could continue to sell the private key to others.
43.
by cslarson 5y ago
This is the value of blockchain in a nutshell. Programmable trust. All manner of tokens (represented things - both digital and not), can be moved, modified, leveraged, etc. It is a public ledger and api for trust. Probably people still unde
44.
by cslarson 5y ago
It's more convenient to query a database than to ask everyone.
45.
by cslarson 5y ago
Crypto has added a lot to aggregate wealth over the past 12m.
46.
by cslarson 5y ago
in the US the transfers you describe are not capital gains (either short of long term). The first, payment for services, is just income of $1k. The second, swapping BUSD for USD, is not income, nor cap gains, so has no tax applied.
47.
by cslarson 5y ago
The only way to build wealth is by investing. The SEC gate-keeping this is outrageous.
48.
by cslarson 5y ago
If you receive it as income then it's taxable at that point at $ value. If you later sell or trade it you realize capital gains (or losses) and that is a further taxable event.
49.
by cslarson 5y ago
blockchains are databases. transactions change the state of the database. they aren't limited to trading-related transactions.
50.
by cslarson 5y ago
Buying hardware to mine vs buying tokens to stake... really there is no difference in accessibility here.
51.
by cslarson 5y ago
> The multi-level marketing ponzi scheme things would still be present. Yes, there are scams. But even in 2017 ICO days these were easy to spot - wailing and teeth nashing over ICO scams was dumb then and still is now. > Yes, but &quo
52.
by cslarson 5y ago
This is really a complaint against Proof of Work based consensus protocols. "Cryptocurrency" is also kind of a dumb term. Everyone seems to still think this is about creating new currencies. Really we are talking about tokens th
53.
by cslarson 5y ago
As someone quite involved in the Ethereum ecosystem - I totally agree. I also believe the Ethereum network will switch entirely to Proof of Stake this year .
54.
by cslarson 5y ago
Sovereign identity, DAOs, NFTs (not just the art stuff which atm is a little cringe but game items, land registries, deeds), stablecoins (usdc, dai, yes there is also wilder experimentation here). I think people can quickly get dissuaded by
55.
by cslarson 5y ago
How can you not see what the importance of this new infrastructure? I come here and read these comments and am just at a loss for words at this point. Forget Bitcoin and look at Ethereum. This tech is so powerful I am in some ways scared of
56.
by cslarson 6y ago
Non-pegged stablecoins are now starting to be experimented with on Ethereum, Rai and Bank/Float, for example.
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by cslarson 6y ago
> why haven't we seen them be successfully implemented already They require cutting edge cryptographic and blockchain research and development which has only recently been achieved. Many teams are racing to solve this because there
58.
by cslarson 6y ago
Might be tough to hear but it is money if people use it as money and they certainly are within the Ethereum ecosystem. Bitcoin's promise of only 21m is based on a wing and a prayer (very suspect whether fees can ensure security in plac
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by cslarson 6y ago
Bitcoin is not sustainable even for providing for it's own security let alone from an environmental perspective. Bitcoin also gives the world very little in exchange for these massive externalized costs. It will eventually fail and the
60.
by cslarson 6y ago
If you are dismissing crypto because you don't like bitcoin or proof of work (mining) then it may worth trying to look past that and reevaluate. Immutable ledgers, namely Ethereum, are transforming finance and that is just the low hang

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