You have one job.
-
Unfortunately not, it's like picking the right Unix-like OS in 2003.
... and that is my point.
This is an extremely unreasonable paradigm to expect a business, or really any kind of enterprise or endeavor beyond a fairly low stakes hobby to be built off of and operate from.
-
DAI is pegged to the US dollar
But what is USD pegged to?
-
... and that is my point.
This is an extremely unreasonable paradigm to expect a business, or really any kind of enterprise or endeavor beyond a fairly low stakes hobby to be built off of and operate from.
A good manager can address this problem by hiring engineers who understand what they're talking about. There's no score for decentralization because there's a lot of moving parts; it's not just a single percentage score.
-
A good manager can address this problem by hiring engineers who understand what they're talking about. There's no score for decentralization because there's a lot of moving parts; it's not just a single percentage score.
Every single large scale retailer I am aware of, that has attempted to offer an ability to buy at least some segment of its goods via a crypto coin, directly... has abandoned this attempt after a few years.
You just assert this problem is solved by hiring 'competent engineers', yet no one has actually figured out how to do this, beyond basically black/gray markets, and hyper niche privacy oriented digital services.
Again, the managers, the CEOs of this business... would still need some way of objectively assessing what is and is not 'competent engineering'.
I... assume you are not familiar with modern software related hiring processes, where it has been a running joke for over a decade that HR has literally no comprehension of what they ask for in job postings, and thus has no real way to evaluate candidates by competency, they often cannot even come close to even describing the actual nature of the job.
-
I am not as well versed on Solana, but yeah, as best I can tell, and I've been following crypto since Satoshi's paper dropped, since before Mt Gox became a trading house...
Monero is the only crypto that is really even close to kind of being the bare minimum starting point that Satoshi wanted Bitcoin to be.
And... we still don't have any kind of broad, tangible uses case for any crypto... other than scams, gray/black market stuff, money laundering, extremely privacy focused services, and extremely speculative investing.
Crypto is basically a problematic solution, still searching for an actual problem it can actually solve better than what has come before.
wrote last edited by [email protected]Solana is awesome in terms of tech, it does everything that ethereum can do but faster and cheaper. The problem is that the foundation has unlimited voting power and it’s unclear if that’s ever gonna change. So the protocol is decentralized but the economics are only decentralized if the foundation keeps listening to the community.
IMO the use cases are there, I can send Solana instantly and at ridiculously low fees around the globe. Let’s say I wanna wire 10k USD to Europe from anywhere else, if I go through my bank it’s insanely expensive and will take days if not weeks.
Another use case is that as long as I hold native token, they’re mine. If Trump declared me a political enemy and freezes my assets, well, he can’t freeze my XMR or SOL, so that’s another use case, protecting yourself against malicious governments.
Finally, as for XMR the use case is private internet money. With cash transactions becoming rarer this is super important.
So I think decentralization is the use case. But I’m worried that it’s never gonna happen because corpos are gonna lobby promising projects like Solana and XMR is gonna get abandoned
-
Every single large scale retailer I am aware of, that has attempted to offer an ability to buy at least some segment of its goods via a crypto coin, directly... has abandoned this attempt after a few years.
You just assert this problem is solved by hiring 'competent engineers', yet no one has actually figured out how to do this, beyond basically black/gray markets, and hyper niche privacy oriented digital services.
Again, the managers, the CEOs of this business... would still need some way of objectively assessing what is and is not 'competent engineering'.
I... assume you are not familiar with modern software related hiring processes, where it has been a running joke for over a decade that HR has literally no comprehension of what they ask for in job postings, and thus has no real way to evaluate candidates by competency, they often cannot even come close to even describing the actual nature of the job.
Do you actually need another example, this time of a company accepting crypto for 5+ years? Yeah, hiring competent engineers is hard, yet you'll still go out of business if you don't.
-
Solana is awesome in terms of tech, it does everything that ethereum can do but faster and cheaper. The problem is that the foundation has unlimited voting power and it’s unclear if that’s ever gonna change. So the protocol is decentralized but the economics are only decentralized if the foundation keeps listening to the community.
IMO the use cases are there, I can send Solana instantly and at ridiculously low fees around the globe. Let’s say I wanna wire 10k USD to Europe from anywhere else, if I go through my bank it’s insanely expensive and will take days if not weeks.
Another use case is that as long as I hold native token, they’re mine. If Trump declared me a political enemy and freezes my assets, well, he can’t freeze my XMR or SOL, so that’s another use case, protecting yourself against malicious governments.
Finally, as for XMR the use case is private internet money. With cash transactions becoming rarer this is super important.
So I think decentralization is the use case. But I’m worried that it’s never gonna happen because corpos are gonna lobby promising projects like Solana and XMR is gonna get abandoned
Ok, yeah, I can absolutely see at least some real, relative utility in Solana then, if it is basically the fastest transacting and also least energy intensive crypto...
Though yeah, being essentially monopolized in terms of governance is a pretty big flaw, in a lot of possible scenarios.
At this point, I just wanna genuinely thank you for being the least deluded and most reasonable crypto person I've talked to in a long while... you seem to have a much more realistic view on all this than the vast majority of others I encounter.
=D
Yeah I think we agree that XMR is currently the best option in terms of... actually private and secure transactions...
But of course, it is still fairly difficult to actually pull XMR out as a standard currency, or buy into it, in a way that is actually not traceable.
-
Do you actually need another example, this time of a company accepting crypto for 5+ years? Yeah, hiring competent engineers is hard, yet you'll still go out of business if you don't.
wrote last edited by [email protected]Yeah, hiring competent engineers is hard, yet you'll still go out of business if you don't.
Oh yeah sure totally, not like 1/5 of the US tech sector just got laid off and their work handed to LLM AIs and a handful of vibe coders that literally are definitionally incompetent.
You completely do not understand how businesses work.
Keep dreamin buddy, you can get to the moon if you master astral projection.
-
Yeah, hiring competent engineers is hard, yet you'll still go out of business if you don't.
Oh yeah sure totally, not like 1/5 of the US tech sector just got laid off and their work handed to LLM AIs and a handful of vibe coders that literally are definitionally incompetent.
You completely do not understand how businesses work.
Keep dreamin buddy, you can get to the moon if you master astral projection.
Sounds like these LLMs are functional replacements, maybe they can simplify decentralization down to a single number for you.
-
Could they accept crypto? I can pay for my shady IPTV service with it, so why not games too? There's gotta be a way around this.
You might, but most won't.
-
This post did not contain any content.
Might as well start using cash almost exclusively except for buying Steam gift cards.
-
Could they accept crypto? I can pay for my shady IPTV service with it, so why not games too? There's gotta be a way around this.
You can probably find a place to buy Steam gift cards with crypto...
-
Wouldn't solve the problem.
If Steam republished all its now censored games, and magically developed and implemented a world class crypto payment system overnight...
Then Steam is still in breach of MC/Visas terms, and MC and Visa drop them, and now everyone has no choice other than to use GabeBucks or w/e to purchase Steam games with.
Also, Valve now pays employees and game publishers in GabeBucks.
Which would cause a fuck ton of games to leave Steam.
Then Steam is still in breach of MC/Visas terms
Are they even in breach of those terms right now? My understanding was that it only mentions illegal games. This was part of the reason why MC isn't even talking to Valve, because they have no leg to stand on.
-
Ok, so we've got a single stable coin that's been fairly stable for 5 years, good start.
Now, how do I know which ones that were around 5 years ago....would be this stable, 5 years back in time?
How do I know this one will be stable for another 5 years?
Is there... some kind of objective analysis I can do here, of all stablecoins, to at least have an idea of this, or am I throwing darts while blindfolded?
Businesses tend to like certainty and predictability when it comes to the fundamentals of their operations.
USDC and USDT have also been stable for quite some time.
USDC might be the only one I'd really trust though. Since it's backed by Coinbase and Circle, it seems extremely unlikely to break down in any way. Because the powers at be wouldn't allow it. Too much institutional investment.
-
Then Steam is still in breach of MC/Visas terms
Are they even in breach of those terms right now? My understanding was that it only mentions illegal games. This was part of the reason why MC isn't even talking to Valve, because they have no leg to stand on.
wrote last edited by [email protected]Are they in breach right now?
Evidently no...
But the entire problem at this point is that no one actually knows what the actual, specific guidelines even are.
...
MC + Visa get pressured from Aussie Puritans.
MC + Visa basically have a Zoom call with Steam and Itch, and tap on the gigantic sign in the backdrop, at one specific rule... which is actually pretty vague.
Steam and Itch then do their best to interperet that as broadly as possible, update their own policies.
Gamers revolt, blow up MC + Visas phones and emails.
MC and Visa backpedal, claim that well actually, Step 2 didn't go down like that, they were actually pressured by... all their other partner client banks, whom they also largely lord over with an extreme power imbalance?
New local laws, which are not specified at all?
...
The entire problem is that MC and Visa just thought they could swing their dick around, make vague threats, leave Steam and Itch to ... figure out all the details... and then that blew up in their faces.
Had they actually done a legitimate amount of research, such that they could actually give much more specific guidelines, you know maybe involving Steam and Itch in the process, in a mutually collaborative way, instead of an authoritarian way?
Well then this mess would not have happened.
And now, actually doing this is the only way to fix the situation.
... They could have just done this from the get go, and not have caused mass confusion and a huge consumer revolt.
...
So this all isn't me disagreeing with you, its basically me agreeing, yes-anding, just expanding on how the entire fucking problem didn't even need to exist, the problem is the utter lack of clarity and specificity, was borne out of total hubris on the part of MC + Visa.
-
This post did not contain any content.
Payment processors have been censoring people due to politics for years, sad that them censoring porn is the only way to get this side of the internet riled up about it
-
Are they in breach right now?
Evidently no...
But the entire problem at this point is that no one actually knows what the actual, specific guidelines even are.
...
MC + Visa get pressured from Aussie Puritans.
MC + Visa basically have a Zoom call with Steam and Itch, and tap on the gigantic sign in the backdrop, at one specific rule... which is actually pretty vague.
Steam and Itch then do their best to interperet that as broadly as possible, update their own policies.
Gamers revolt, blow up MC + Visas phones and emails.
MC and Visa backpedal, claim that well actually, Step 2 didn't go down like that, they were actually pressured by... all their other partner client banks, whom they also largely lord over with an extreme power imbalance?
New local laws, which are not specified at all?
...
The entire problem is that MC and Visa just thought they could swing their dick around, make vague threats, leave Steam and Itch to ... figure out all the details... and then that blew up in their faces.
Had they actually done a legitimate amount of research, such that they could actually give much more specific guidelines, you know maybe involving Steam and Itch in the process, in a mutually collaborative way, instead of an authoritarian way?
Well then this mess would not have happened.
And now, actually doing this is the only way to fix the situation.
... They could have just done this from the get go, and not have caused mass confusion and a huge consumer revolt.
...
So this all isn't me disagreeing with you, its basically me agreeing, yes-anding, just expanding on how the entire fucking problem didn't even need to exist, the problem is the utter lack of clarity and specificity, was borne out of total hubris on the part of MC + Visa.
I just think, if it went to court, Valve would eat MC's lunch. So I'm not sure they should be worried about being in breach of terms (that they haven't even breached).
-
But what is USD pegged to?
I believe last time I saw it it was hanging from Donnie's diaper, like a forgotten strip of toilet paper...
-
Unfortunately not, it's like picking the right Unix-like OS in 2003.
The right Unix-like OS
It's always been BSD, it'll always be BSD.
-
I just think, if it went to court, Valve would eat MC's lunch. So I'm not sure they should be worried about being in breach of terms (that they haven't even breached).
wrote last edited by [email protected]I hear you, but I wouldn't go that far.
You think Steam is a money printing machine?
MC and Visa are payment processors.
Literally every credit or debit transaction that involves them?
Oh yeah, they shave a penny or two or sometimes more off of that transaction, the business and actual banks involved usually eat it, not too long ago it would be much more common for retailers to pass some of it to the consumer as well.
Its the Office Space scam, but actually legit, at a muuuch grander scale.
Thats a fucking money printing machine, they unironically have at least 10,000x more money to throw at lawyers than Valve does.
