Both basic income projects. Proof of humanity ubi tokens are more easily tradeable and meant to provide Sybil resistance to eth projects, but circles has a nice self contained design which is probably more interesting as a form of basic income/ community currency.
I equally find it strange that people continue to come to hackernews- the Silicon Valley VC startup land - and can’t grasp that the infrastructure for programmable money might have some value. And write off p2p communication and coordination tools as zero-sum/ fraudulent games. And then wish for the government to ban other people’s jobs and hobby’s and communities because they don’t like it.
Blows my mind that people might spend their day coding, and night playing mmorpgs, and still not understand crypto. I guess we need better UX and storytellers.
Nobody has been able to tell me a single thing that this "programmable money" can do, despite having 12 years of gestation to think on it. Everyone just seems excited about the concept and assumes that because it's "natively programmable", it's somehow more useful than what we have right now, which is that we write programs which move around money.
And please don't reply with DeFi, that's not taking advantage of the inherent programmability of Bitcoin, it's just a marketplace based on failed economics.
> the infrastructure for programmable money might have some value
And it has, Central Banks are creating their own digital currencies for digital wallets. They aware based on real needs for speed, volume, security, trazability, etc.
> the infrastructure for programmable money might have some value
I think that people understand cryptocurrencies quite well, and from that knowledge comes the skepticism.
> wish for the government to ban other people’s jobs and hobby’s and communities because they don’t like it
I want it banned because people with unsofisticated knowledge of economics and technology are being scammed out of their money by snake oil salesmen. But, that is not needed. As soon as normal accounting guaratees are required it probably will call by its own weight.
I know people working hard jobs putting hard earned money into this scam trying too get money to better their lives. It breaks my heart to thing that they are being lied in such a way, this study suggests is all manipulation, and that is my experience with everything related to cryptocurrencies. The sooner it gets regulated the better.
You can easily (!) and efficiently (!) do "programmable money" without crypto[1]/blockchain/consensus (ie whatever Bitcoin and its descendants brought to the table), and guess what, people do.
> Blows my mind that people might spend their day coding, and night playing mmorpgs, and still not understand crypto.
Let's agree that you can lambast cryptocurrencies even despite understanding them, ok?
[1] with good old cryptography, of course, but without "crypto"
Can’t really talk beyond Europe viewpoint, so might be different elsewhere, but here in the UK the left often talks of removing Westminster central control and empowering smaller local politics. I’m left wing/labour/union/coop worker and work in crypto, same with my colleagues. I really disagree with the projection that it is right wing ultracapitalist. It’s one of the best tools I’ve seen for cooperatives and community organisations
I guess there creator of dogecoin always saw it as a joke, so this isn’t surprising.
Cryptocurrency is about choice and voice. Coordination and communication tools. There are American right wingers with their tokens and systems they’ve designed. But there is also things like CirclesUBI which is much more socialist and gaining momentum in the Berlin indie art scene.
Of course if you aren’t engaging with the space you just see speculation and hear about hacks and crime and people who became millionaires. what you will hear about is what Silicon Valley vcs pour millions of dollars into things they want you hearing about.
But actually engaging with devs in the space and the different subcultures you can find people you get along with. You can find communities and daos doing things you are interested in and share your political alignment.
Most people I know working in the space have European left wing leanings.
Also a reminder. You don’t have to spend any money to be involved. Write code, join chat rooms, work on things you enjoy and want to make. That is going to obviously be much more rewarding than gambling on the back of VCs bags.
People are always surprised when I describe how bad the internet connection I have is here in the UK. 3meg down 0.2 up.
If it rains or is too windy the connection dies. I’ve spoke to bt and openreach hundreds of times but it never gets any better. I’m the last house on the end of a copper line and there is no interest in fixing it. Four years ago the village was supposed to get fibre, recently “delayed” again. I rely on the 3G signal, which isn’t much better tbh.
My Starlink arrives next week :) I’m so exited to be able to finally download some photos I put on google drive a couple of years ago.
Yeah, British internet can be fairly inconsistent. I'm in a rural-ish area and can get 100 megs down on a fibre-to-the-house connection, but when I lived in an actual town I would be lucky to get 2 megs down on a good day. I literally ended up doing everything over 4G back then because the fixed internet connection was just abysmally bad and Openreach never cared enough to fix it.
There isn’t a cap on validators so you can’t buy up a fixed percentage of the network. More people can always join. You will be diluted over time unless you choose to reinvest(same as mining).
As we reduce the hardware costs and energy usage costs it becomes easier to participate in the network (especially via pools, same as mining but much much cheaper).
Being able to run a validator on a solar powered raspberry pi is a great improvement to making participation in the network accessible.
We should see the exact opposite of what you suggest, anyone who wants to participate not having energy or hardware restrictions should make it less Matthew-effect-like.
PoS increases both the cost of a direct attack on the network as reorganised/51s are more expensive to perform with slashing mechanisms in place, and also removes the threats of supply line disruption by either nation states or cartels forming to control the flow of the hardware.
> There isn’t a cap on validators so you can’t buy up a fixed percentage of the network
you can during a pre-sale or pre-mine event
> More people can always join
joininng as validator means convincing another validator to reduce their stake (sell it to you), which is a form of permission.
> You will be diluted over time unless you choose to reinvest
you can't be diluted if you don't sell you stake and continue staking. that's just by definition how PoS works.
> PoS increases both the cost of a direct attack on the network as reorganised/51s are more expensive to perform with slashing mechanisms in place, and also removes the threats of supply line disruption by either nation states or cartels forming to control the flow of the hardware.
nope, literally none of it is true.
slashing mechanisms only obfuscate the attack, they don't make it more expensive. in fact they reduce security by virtue of piling more and more rules that require more and more code, which inevitably contains bugs.
threats of supply chain attacks are much less scary than threats of long range attacks from hacked / overtaken private keys of early / current validators.
producing more hardware to counter an attack might be expensive and early iterations of hardware can be inefficient, but at least nobody can stop you from producing it. as i've already explained - if somebody gets a stake in pos system, there is nothing you can do to reduce it.
pos simply doesn't work. it's been known a decade before pow and was just never considered seriously because it's not trustless and permissionless.
I agree, it seems like results are getting worse, a few years back I could ask a question and get an answer. Now I don't even bother and go straight to sites to search, be it wikipedia/ github/ stackoverflow/ ebay. Googling for it is just a waste of time.
Both basic income projects. Proof of humanity ubi tokens are more easily tradeable and meant to provide Sybil resistance to eth projects, but circles has a nice self contained design which is probably more interesting as a form of basic income/ community currency.