mattdesl

30 ms·

271.
by mattdesl 4y ago
A “wallet” is just a series of math operations over standard cryptographic primitives. An airgapped device can be a calculator and pencil, or software that you have programmed and verified yourself in Python[1] or another language. At some
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by mattdesl 4y ago
Got it, makes sense. Thanks.
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by mattdesl 4y ago
Thanks for the info! So it seems if k is chosen correctly there is no way it can leak data even after an improbably large number of transactions are posted. But there must still be some source of randomness for k besides just the message da
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by mattdesl 4y ago
My post is about Minecoin and Minecraft Marketplace, not the community of modders outside of that who may or may not be exploring their own forms of monetization. Nothing stops the hypothetical crypto/rollup-based game I mentioned from
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by mattdesl 4y ago
If your example is OK with a dice roll to generate a random mnemonic, i.e. it is uniformly random enough for your scenario, then you can do the same to generate random parameter k so that the wallet is not doing it for you. You can also cod
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by mattdesl 4y ago
But this comes down to “trusting a compromised device is bad.” The device could steal your funds from the moment you send your first transaction (it could only generate a set of known private keys). Assuming the mode of key signing is not c
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by mattdesl 4y ago
What do you mean “phone home”? Posting a signature on a public ledger does not give information about nonce k which I think is what you are referring to. Each time a new transaction is signed, the k value will be a new random big integer. I
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by mattdesl 4y ago
If you are willing to go to any lengths to remove the need to trust a manufacturer, you can’t even start with a dice roll as the dice could be weighted against you. But if for the sake of example you trust the dice and it’s uniform randomne
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by mattdesl 4y ago
These issues only apply to in game economies like Minecoin and Minecraft Marketplace, and any game or game engine that aspires for similar UGC marketplaces. The parts of a game that have no economy, like an open source modder community, doe
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by mattdesl 4y ago
This has nothing to do with Axie Infinity, and nothing to do with changing the core gameplay. Mitigating the absurd fees and limitations of app store purchases would be one significant win for game publishers and gamers.
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On Minecraft, NFTs, and semi-centralized game marketplaces(gist.github.com)
1 points by mattdesl 4y ago|7 comments
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Seed Poems: Crypto Wallets and Constrained Poetry(seed-poem-tool.netlify.app)
2 points by mattdesl 4y ago|0 comments
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by mattdesl 4y ago
You are right, the 501(c)(3) aims to enrich itself in order to direct that value to its social causes. The "participants" in this case, though, are not shareholders or for-profit companies, but other 501(c)(3) organizations that a
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by mattdesl 4y ago
> Every single project, from digital art to social organization, is ultimately asked to do one job: enrich its participants. When the thesis of your essay is based on such a blanket statement, a single counterpoint is all that is needed
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Digital artists' post-bubble hopes for NFTs don't need a blockchain(blog.mollywhite.net)
3 points by mattdesl 4y ago|1 comments
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by mattdesl 4y ago
A lot of pro-crypto users avoid USDT like the plague and assume it will at some point come crashing down (and drag the market down along with it).
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by mattdesl 4y ago
Perhaps one example is Endaoment[1], which automatically converts ETH payments to USDC to mitigate market volatility and ensure beneficiaries receive donations in dollar amounts. This is also good from a tax perspective, as businesses repor
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by mattdesl 4y ago
Tether (USDT) is attractive to high-risk traders who are seeking high return and low exchange fees. This doesn't mean it is good or will remain stable indefinitely—I would not be surprised if it follows a similar path as UST. As it is
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by mattdesl 4y ago
Non-custodial just means you own and control the asset by virtue of being the only person with the private key. A similar analogy is web servers. Most users are fine to run their website on AWS, but some users would like the ability to host
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by mattdesl 4y ago
non-custodial is the opposite of a bank.
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by mattdesl 4y ago
> what are USD-pegged stablecoins for? No snarky answers, please simply put: mitigating price volatility of the base token. rather than only holding an asset that has huge swings per day, you can hold an asset that has minuscule swings p
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by mattdesl 4y ago
not really sure what you are referring to; ENS does not depend on IP addresses or have anything to do with internet protocol domain names.
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by mattdesl 4y ago
You keep mentioning localized EU/UK bank transfer fees when my original post that triggered this discussion is referring to international payment processor APIs (Stripe, PayPal) and the web that builds on top of them (Ko-Fi, Etsy, Band
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by mattdesl 4y ago
I already am spending it on things e.g. art, donations, and peer-to-peer international payments. The number of services accepting crypto can continue to grow without transfers reaching the 2-5% processor fees I mentioned earlier.
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by mattdesl 4y ago
not really. I just checked a CEX - to exchange 1,000 XTZ into 2,268K GBP and have it directly deposited into fiat account, the fee is 3.76 GBP, i.e. 0.17% rather than 1-2%. you also seem to be taking the opinion that all crypto must eventua
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by mattdesl 4y ago
> "low-fee" crypto networks are not a comparison because your goal is not to send "low-fee" cryptos, it's to transfer money. we are both talking about sending 'value' across the globe, e.g. Ko-Fi-style
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by mattdesl 4y ago
> SEPA transfers within the EURO area are basically free. Not international; not a payment processor on any popular platform. > TransferWise is dirt cheap. Not really, when you compare it to low-fee crypto networks. If you sent 1.5 GB
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by mattdesl 4y ago
Many digital artists I know have a Tezos address, and I could send them a donation of any size for a fixed fee of about 0.000544 XTZ or $0.001 USD.
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by mattdesl 4y ago
Merchant fees are pretty high for most online and international payment systems. For example donating to an artist via Ko-Fi will result in 2-3.4% + $0.30 fees due to Stripe/PayPal payment processor. IMHO the larger concern is that our
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by mattdesl 4y ago
The burn is one part (and in many cases the majority of the transaction fee) but there is also an optional tip directed to miners which may incentivize them to include your transaction first. Transactions that are below the market fee will

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