@nilesh crypto is generally a really bad idea, especially as a "price" for developers, most of thems are either scams or they are resource wasting as pure heck..
@sotolf How are (good) crypto projects - like Brave, Filecoin, ENS - any different from startups offering equity to their investors? It seems like crypto is the only place where alternative funding models for public goods are being experimented upon.
@nilesh Startups are very often scams as well, so much of this is just a layer of promises built upon promises of hopes of something being possible, crypto is still a solution looking for a problem.
@sotolf This is bit too cynical for me. Most of digital products that people are using these days - are those built by startups, not altruist developers.
@nilesh So, which problems does crypto solve in a better way? I have asked many many people this, and never got a good answer.
@sotolf @nilesh it seems like this community generally is fairly anti-crypto. That’s fine - everyone’s entitled to their thoughts. It’s interesting, though, because I would think the FOSS community has similar goals.
I see positive use cases for projects like ENS and IPFS that will help decentralize the web. It helps lessen the reliance on large tech company’s ecosystem by moving ownership back into users hands. Which is the same general mission for federated systems.
@nilesh @sotolf the thing with ENS that is exciting to me is that the domains are all on the ledger, which is validated by everyone. It’s inefficient and with gas prices now, costly as well, but the ownership piece is what’s interesting to me. Same as with IPFS.
And I hear you about the scams and hype. I just started getting interested in the space during 2013ish with the ICO craze so there was plenty of that. The industry has settled a bit though, with larger legit projects pulling ahead.
@kaidao @nilesh What are the resources used to verify a single entry? for nfts running on the etherium chain it's more electricity than is used for a family home for a whole year, that is crazy, especially as we are in a place where we're already killing the planet.
It has settled down? Just the last months we've had squid game coin and save the kids...
The other problem, at least for ETH, is transaction fees. Which is the hope for the L2 solutions coming up.
And squid game coin - lol, anyone in the community (who’s not just gambling on hype) could tell that was a rug pull. There’ll still be scams, but you have to see that most of the longer lasting projects are legitimate.
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