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web4

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web4
·4 года назад·discuss
you are probably right, but I will not be so pessimistic as to resign to favouring Steam and Apple stores and take rates as a necessary evil and permanent facet of the web’s future. I am happy to see web3 at the very least attempting to challenge this, however weakly it is currently being done.
web4
·4 года назад·discuss
> Do these pages belong to the same person?

what does your gut tell you?

despite knowing so little about art market and art history that you’ve never heard of the world’s most influential and highest sold living artists, you can probably still make a rational guess that this NFT collection is a copymint. perhaps the fact that the artist never once mentions or links to the collection from their Instagram profile acts as a hint.

this is what I mean by “trivially easy” compared to art forgeries in the real world, which do take professional art historians and years of study, and yet still leaves many of them fooled.

it’s worth noting that the collection has not sold, and very likely never will.
web4
·4 года назад·discuss
the only need for NFT in a game is decentralization and disintermediation of payment and ownership. if you wish to distribute game assets and give players a form of transferable and scarce digital ownership that is not locked into a walled corporate garden, CC0-licensed NFT represents one approach.
web4
·4 года назад·discuss
it always comes back to the same argument: crypto is bad because a couple centralized companies handle this all for us just fine, and people in some countries already have great interbank transfers.

also please lose the ad hominem, it is not needed.
web4
·4 года назад·discuss
the system can and does favour those by social class, connections, race, gender. discrimination in financial and lending services is a well documented issue. the fact that the banking system “imposes limits and barriers until you reach a certain social class” is not a point in favour of the banking system.

most private clients are getting cushy services such as better lending and interest rates, faster payment times, better wealth management services.

but I digress. the banks are useful obviously, despite their flaws, and in the EU and UK the banks tend to be some of the best in the world. this is not to say banks as a whole are useless, but banking systems on average across the globe have many aspects that fall short of our ideals. crypto does not fill all of those, and has plenty of flaws and issues as well, but it does excel in certain areas and at the very least provide a competition that forces us to more closely consider the pitfalls of our typical financial structures.
web4
·4 года назад·discuss
this was with CHAPS.

> was in the destination account the next day

that’s probably CHAPS as well then as FP is within 2 hours. still a a lot slower than crypto’s 30-60 seconds, and extremely opaque process that could have taken additional days without any information to the customer.

but undoubtedly, both CHAPS and FP are very fast and inexpensive, and some of the best systems in the world for interbank transfers. unfortunately it only works from one UK bank to another UK bank, which makes up a small portion of global population. even within UK you will often have need to pay somebody who doesn’t have a UK bank.
web4
·4 года назад·discuss
great! now Dropbox owns all of our assets instead of Steam. brilliant. /s

PoS removes the environmental burden.
web4
·4 года назад·discuss
as I said in my original post: this is a niche application. some share of users will be happy to own and trade CC0 licensed assets that are not centrally owned by a single game company, and not sitting in their steam or apple account.

similarly, some share of devs and gamers like to publish and purchase work on Itch.io, even though it’s the minority compared to Steam or Apple.
web4
·4 года назад·discuss
yes, games and game stores hold records of ownership under your account. some of that may be purchased, some of it may be acquired through another means like an in-game achievement.

nfts are literally just records of ownership of a digital asset that are upheld without a central entity.

“it’s a lot like owning assets in a game” is exactly correct with the distinction that it’s decentralized
web4
·4 года назад·discuss
you are making it seem like it is difficult to tell a David Hockney NFT is a fake. step one: does the artist have a clear history of minting associated with an address? if no, and the artist is not making any claims to making nfts, then most likely it is a fake. if yes, and the artist is promoting the nft at that address, it is probably not a fake.

in the case of Hockney as he has been expressly against nfts and has never publicly made one, a fake is easily detectable. in the case of Beeple who has been expressly for nfts, it is easy to authenticate as it will be associated with his address.
web4
·4 года назад·discuss
yep. the rich tend to be given access to better banking services than the poor: higher limits, direct line of contact with a bank manager, additional services. when your account reaches a certain wealth threshold the bank will step in to ensure you have a better experience than the poor.

banking is a radically different design philosophy than a protocol where all addresses and transactions are treated equally regardless of wealth, class, and other social factors like race and family connections.
web4
·4 года назад·discuss
ETH fees at time of writing are about $1-3 for a transaction finality of < 60 sec. note that is fixed, the same if you transfer 1 or 100 or 1000 tokens.

though eventually as these networks scale most users will be transacting and interacting with L2 rather than L1. fees in L2 are in cents on the dollar, transaction finality is often very quick, and security assumptions are typically good enough for most use cases.

https://www.useweb3.xyz/gas?source=ethgas.watch&referrer=eth...
web4
·4 года назад·discuss
it’s easy to dismiss nft and the like if you are dead-set on your opinion that it’s all ponzi, but it is making traction in art and media: see Christie’s and Sotheby’s and a variety of notable artists and galleries not to mention Meta, Spotify and other platforms.

> you can just use cash?

this question sorta gets at one of the primary values of crypto, that it’s peer to peer, transferred non custodially and pseudonymous. many countries are moving away from cash into digital only forms of transactions, and having a system that upholds peer to peer transactions can be useful.

replace abortion in that example with other legally questionable actions depending on your state. maybe buying marijuana or psilocybin for medical purposes, paying somebody like Edward Snowden for giving a lecture, or purchasing a VPN subscription. for citizens who are rebelling against their state in some way, such as abortion rights protests, or climate activism like extinction rebellion, or a person that lives in a less democratic regime, it may be desirable to use certain crypto systems to mitigate state oversight.

https://www.nytimes.com/2022/05/14/style/abortion-crypto-don...
web4
·4 года назад·discuss
that limit depends on your bank. for large transfers you will often need to visit your branch in person which can be a multi day process.

and yes UK faster payments system is great but it is not yet the backbone of global payment processing. the world is larger than the UK and as we continue to connect globally online and become more digitally nomadic there will be more need to pay users outside of a UK-to-UK bank system.
web4
·4 года назад·discuss
use case depends on consumer. paying for an abortion in a southern US state or paying a Russian or Iranian contractor for web design services might be a suitable example of crypto. paying for an in-game asset to avoid 30% App Store fees may be another use case in the future. or purchasing digital assets like art, domains. and smart contract functionality like escrow, auctions, loans and lending, global crowdfunds is another use case.

whether it is better or worse for each of those depends who you ask and what their goals are, and also in what year you ask. ten years ago it was inconceivable to do these things with crypto, ten years from now it may be that these systems will continue to improve in terms of fees, privacy, scalability and user experience. consider the current cohort of users to be beta testers who are taking on additional risk and technical burden while the system continues to improve.
web4
·4 года назад·discuss
large (> 10K) bank and wire transfers within UK and EU are still in the order of days, not seconds. the last large bank transfer I did took 5 days without any way for me to track this transfer. the same amount I was able to transfer within crypto networks in 30 seconds and the transaction progress and it’s validation status was visible for the entire duration.

the EU and UK banking system is far better than the US but still it is not a global payment processor network and API, hence why the web even in EU and UK relies on Stripe, visa, Apple Pay and PayPal and their corporate and centralized infrastructures. building an alternative infra that is not based on a single corporate entity is net positive for the world long term
web4
·4 года назад·discuss
not everybody lives in the UK.

the point is not to be a system that beats a single service for sending GBP from A to B in the UK. the point is a system that has a variety of uses and applications accessible by anybody, regardless of which country the user resides in.

even in countries with good banking like UK, many e-commerce companies will still choose Stripe VISA and PayPal to reach customers outside the UK and integrate a payment processor API. an online shop could offer crypto as a payment mechanism if they wanted to avoid using these companies and if it met their needs.
web4
·4 года назад·discuss
sure, if you just want USD then hold that. if you want an asset that tracks USD, but has the freedom to exchange in crypto markets, be held in a non custodial way, and operate with smart contracts, a USD pegged stablecoin makes sense.
web4
·4 года назад·discuss
many wires will be multi days long, encumbered by weekends, holidays, business hours, international checks, and occasional bounces (ask any company their experience with wires for international contractors).

Zelle is between US banks only. some people live outside of the US, surprisingly.
web4
·4 года назад·discuss
the point is that Stripe achieves some features for certain users that a wire does not. and crypto achieves some features for certain users that Stripe does not.