scyclow

7 ms·

31.
by scyclow 1y ago
So why do you need timestamps? Or, why do you even need a third party server to run HME to begin with? Why not just encrypt the data and let the client figure it out?
32.
by scyclow 1y ago
Encrypt the diffs for the server and write the hash to a blockchain to manage the ordering. Boom, problem solved without HME.
33.
by scyclow 1y ago
If they really cared about cracking down on ebikes then they'd only try to nail ebikes, not regular cyclists. The conspiracy theorist in me thinks that the real reason they're doing this is to help ICE nab a bunch of delivery work
34.
by scyclow 1y ago
This is a very strange scenario you're describing where: a) the global economy has moved onto the blockchain; b) the government has repealed all the major points of the legislation that we were originally talking about; c) the governm
35.
by scyclow 1y ago
Okay, I'm simplifying a little bit. It wouldn't work exactly like that. You'd lock up $100 (or approve the contract to spend up to $100), specify the time I'm unix timestamps, and leave it up to the recipient to claim
36.
by scyclow 1y ago
Yeah, but the idea is that you can eliminate the middleman or implement some as hoc logic that the middleman doesn't support.
37.
by scyclow 1y ago
Again, not saying this is a totally crazy scenario, but you're describing a level of control that the US government can already exercise using the current banking system. Good luck using fedwire/swift without a bank. The differenc
38.
by scyclow 1y ago
I haven't, but it sounds like they can restrict their employees' spending just fine without crypto. Also, if they can exchange their Company Stablecoins for USD (as the legislation requires) then it makes it pretty hard to restric
39.
by scyclow 1y ago
All valid concerns for the dystopian world we already live in, but crypto doesn't make any of this any more likely. You can make all the same arguments against existing bank accounts or credit cards. What's to stop Visa from spend
40.
by scyclow 1y ago
Sure, but we already have something similar to that in NY called SNAP. And honestly, it would probably be easier to keep doing that without getting the blockchain involved. In any case, I don't think that's the sort of product tha
41.
by scyclow 1y ago
You could do something about it in the same sense that you can opt to be paid in dollars instead of itunes gift cards of chuck e cheese tokens. If someone has the power to decide how they're paying you then they can screw you just as e
42.
by scyclow 1y ago
I'd say that the risk of the US defaulting on Treasuries is definitely higher than zero... but if that happens then we'd probably have bigger fish to fry than stablecoins.
43.
by scyclow 1y ago
I think this is why regulation is so important. As the GENIUS Act is written, all funds backing the coin need to be held in cash or Treasuries. And if they go bankrupt, coin holders would have a higher claim on that money than creditors. If
44.
by scyclow 1y ago
Sure, you could technically wire something together that does this, but maybe the other party wants a strong reassurance that the payment will actually go through. They don't want to rely on your server making the right API call.
45.
by scyclow 1y ago
Well, the good news is that you could also program event ticketing logic with a blockchain and build a TicketMaster competitor. But now we're venturing outside simple examples :)
46.
by scyclow 1y ago
Sure, but banks can lock your account without the blockchain, so you're not enabling any new dystopian behavior here. And if you're worried that they can restrict your transaction behavior, then don't hold that coin! Swap you
47.
by scyclow 1y ago
Like what? It's just a streamlined and versatile way to escrow money.
48.
by scyclow 1y ago
I said it was a contrived example! But people have really specific payment logic that doesn't seem to make much sense from the outside. What you're describing can only be achieved by encoding specific logic into the coin's or
49.
by scyclow 1y ago
I wanted to pick an example that is slightly more complicated than what existing banking software provides out of the box. But my point was that you can just write your own logic without relying on the bank or another third party.
50.
by scyclow 1y ago
I want to buy an event ticket from you, but we're strangers. So I write a contract that releases the money to you once you send the ticket, or vice versa.
51.
by scyclow 1y ago
I think what a lot of people are missing about stablecoins is that it's not just about clearing transactions faster than SWIFT. With stablecoins you get programable money without having to deal with the wild fluctuations of crypto. A s
52.
by scyclow 1y ago
I'd imagine that anyone who's sophisticated enough to use a yubikey would just buy a hardware wallet and self custody.
53.
by scyclow 2y ago
That commercial for Dior is wild. It's like an outtake from Inland Empire... but still very obviously a commercial for a handbag.
54.
by scyclow 2y ago
There's a good clicker game based on this https://everest-pipkin.com/barnacle-goose/
55.
by scyclow 2y ago
I feel like a lot of the use cases listed here (which, to be fair, were often touted in 2019) misunderstands what blockchains are actually useful for, which is the ability to index information without a third party. Instead, they conflate d
56.
by scyclow 2y ago
Romance scams are pretty wild. A few years ago someone attempted to catfish me on hinge by impersonating WWE wrestler Mandy Rose. I think the irony or impersonating a professional wrestler (whose job is to act within an artificially constru
57.
by scyclow 2y ago
I think the move is less having a central thing and more advancing wallet and multisig technology. ByBit was pretty reckless by using a simple majority multisig to hold $1.5b. At that level you should probably have a few speed bumps. Like,
58.
by scyclow 2y ago
Great website. I love that it treats each page like a physical room in a museum. The landing page directs you to the "reception foyer". The foyer has a floor plan of the other pages. Each era has its own "room" (this lin
59.
by scyclow 2y ago
Yes, but BTC can only be used as gas to power the transfer of gas. Meanwhile, ETH can be used as gas to power the storage and indexing of information on world computer. If we're talking about creating underlying value, I feel like the
60.
by scyclow 2y ago
You can always hold the ENS in a multisig wallet, or hold it in a smart contract with whatever arbitrary custom logic you want.

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