mattdesl

13 ms·

91.
by mattdesl 3y ago
I checked, and the complaint[1] lists specific tokens, including ADA (Cardano), NEAR, SOL (Solana), ALGO (Algorand), MATIC (Polygon) and others. I have purchased some of these in the past from Kraken to evaluate the technology on my own ter
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by mattdesl 3y ago
Laws change as society and technology progresses. At one point it was illegal to drive a motor vehicle faster than 4mph.
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by mattdesl 3y ago
How do you propose Bitcoin, or Ethereum, or any other decentralized & peer-to-peer asset be registered as a security? Coinbase and Kraken argue that there is no clear path toward registering these assets within the current framework. Fo
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by mattdesl 3y ago
A company offering to pay interest on top of stablecoin holdings does not mean the underlying asset features an expectation of profit.
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by mattdesl 3y ago
A government prohibiting crypto and/or making it impractical to access isn't evidence of the technology's failure. To make an analogy, see the laws and prohibitions around encryption. Many countries (USA, France, etc) have ha
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by mattdesl 3y ago
> Let individuals freely transact. Which as you rightly point out, has failed for good reasons. How has it failed on this metric? A user holding crypto can transact freely and without intermediaries, that much is true of the blockchain.
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by mattdesl 3y ago
It’s typically an IPFS hash of an image that is stored on the blockchain, rather than a mutable URL. Some generative artworks will even store all of their code on-chain. Ultimately, the chain is meant to be a ledger of transactions (like a
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by mattdesl 3y ago
> I want the pendulum to swing the other way. Everybody gets and gets to keep forever an account at the Reserve Bank. Overhauling the financial system to ensure that citizens cannot have their accounts revoked on a whim sounds like a nic
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by mattdesl 3y ago
There were a number of reports coming from conservative MPs of this very thing happening. Regardless of the veracity of their claims, the financial systems in place were able and prepared to do this, before the measures were lifted. > Ev
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by mattdesl 3y ago
See “Using ZK Proofs to Fight Disinformation” https://medium.com/@boneh/using-zk-proofs-to-fight-disinform...
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by mattdesl 3y ago
To be fair, there are many countries outside of North America that exhibit preference for debit cards, and may even have very low credit card ownership rates. I don't pay with a credit card for my Patreon subscriptions, for example.
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by mattdesl 3y ago
> There are disadvantages to using Layer 2 of a blockchain, and you are ignoring the costs of on-boarding and off-boarding from cryptocurrency. Yes, it's not a panacea, but has the potential to be far lower than the current status q
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by mattdesl 3y ago
Nobody is claiming that crypto UX is currently superior to Patreon or Stripe.
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by mattdesl 3y ago
Protocol and client development spans hundreds of contributors and independent researchers. The discussions and development is public; just look at the EIPs, or even submit one yourself. Users (non-devs) have agency through the software the
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by mattdesl 3y ago
CEX fees tend to be very low, much lower than payment processor fees that most Patreon users are paying right now. Coinbase and Kraken have no USDC withdrawal fees with ACH in the US, and nominal bank fees in many other countries. There i
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by mattdesl 3y ago
Agreed, it is limited to active participation. Although this might not be such an issue; a lot of creator payment platforms (Bandcamp, Ko-fi, Kickstarter) depend on active payments, and Patreon’s recent announcements seem to suggest they wi
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by mattdesl 3y ago
Teia is an open source and interoperable platform, basically the opposite of what you are describing. You are welcome to browse the code yourself and make a coherent argument against it.
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by mattdesl 3y ago
Except these are not at all the same, and most users cannot fork or participate in PayPal/VISA protocols.
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by mattdesl 3y ago
How is Ethereum (an open source network) ultra centralized and without democracy compared to PayPal or VISA which currently account for a large portion of Patreon payments?
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by mattdesl 3y ago
I did address both the OP's 1) pseudonym (anonymity) and 2) by-works, the other two points (patronage and audience relationship + API) are both viable and already very much present in crypto art communities. The real feature of crypto
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by mattdesl 3y ago
NSFW art is not illegal; VISA won't block you if you fund an artist who is drawing or photographing nudes, and Patreon's current policy is that this form of content is acceptable.[1] [1] https://www.patreon.com/en-
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by mattdesl 3y ago
Crypto could provide a competitive edge to certain features in Patreon (and Bandcamp). - Instead of 4-7% payment processing fees, it can be effectively zero[1] - Instead of 8-12% fees (or 15% in case of Bandcamp), crypto industry standards
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by mattdesl 3y ago
Most of the chains that solve this do so by making certain compromises (around security, decentralization) that Ethereum core develops are unwilling to adopt. Other chains are simply cheaper to use because there is less market pressure (ie:
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by mattdesl 3y ago
Apparently this is exactly what is happening with Unity[1], where the TOS previously said that you can continue using an old version, but now they are walking this back and trying to apply fees retroactively. Whether this is legal or not mi
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by mattdesl 3y ago
It’s par for the course, all centralized stablecoins (including USDC) have a similar feature. PayPal’s non-crypto dollar accounts can also be frozen (but not in a transparent and verifiable manner).
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by mattdesl 3y ago
This is and probably will always be the case for any centralized stablecoin. Unlike PayPal's traditional "black box" dollars, freezing and burning PYUSD are transparent actions broadcast to the network—it can be publicly anal
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by mattdesl 3y ago
The PYUSD contract includes an `isFrozen` method that returns true if the address is frozen[1]. Since all of the transfers and activity on this coin happens on Ethereum blockchain, all of it is transparent and trackable by any party. It&#x2
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by mattdesl 3y ago
Relevant, using ZK SNARKs to authenticate edits without reliance on a central point of trust[1], blockchain in this case would be optional but perhaps appreciated for distributed & decentralized storage and verification of ZK proofs. [1
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by mattdesl 3y ago
I see—you are saying gamers don’t really care about whether an asset is sellable; but the same is true of most things we purchase. When we buy a book or a vinyl record, we don’t think about its market value, until the day we stop needing&#x
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by mattdesl 3y ago
Gamers spend millions on registering assets in marketplaces: game skins, mods, extensions, assets, it is all just buying records of ownership, but in a centralized company-owned database rather than distributed ledger.

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