Why I Joined a DAO, and Why I Left | Friends With Benefits DAO
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- Опубликовано: 7 сен 2024
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I still haven't fully understood the point of web 3.0 beyond the extraction of money from people. Is there a simple explainer for actually useful features coming out of this tech?
The dream of it actualy working (which it will not) is that abandonment by an owner won’t kill things, as scaling and runnong of a app is baked into its existance, and that of say a goverment tried to shut something down it would be able to survive fine as long as people keep poping up to host it. The most obvious thing to theoreticaly run would be a banking service that would require no trusted party to run everything and would work equaly well everywhere (and possibly be ananomized so you could say send money to a banned human rights group in china)
The problem is that nothing else useful has been built with it so the currency has to be converted out into real money and with nothing backing it crypto is to unstable to be used by real actors. So most of the infustrctire is run by shady people and the main apeal is to scammers, criminals, and regulation dodgers. Making it even less apealing for normal users for whom current stuff is working mostly fine for. Plus there is way greater computation overhead for the “web3” stuff. All of that means it has nothing but vaporware, scams, and the real backbone of drug dealing.
@@georgesmith4768 ...and/or to an entity in violation of national/international sanctions, such as one in / as part of a country that's invaded its neighbor country militarily, etc.
While your statement about its value to human rights groups in China is entirely correct, I do think it's important to be even-handed about the "benefits" of crypto - yes, it does provide a potential avenue to help liberal entities vs repressive entities / governmental systems, but it just as easily provides a potential avenue to help repressive, and/or otherwise sanctioned, entities vs national / international financial pressures that can be just as valuable / important.
There's no inherent "moral advantage" to decentralization, (nor did I think you were inferring there was). If anything, given the explicit nature of entirely decentralized anonymous wealth flows, and their ability to avoid national / international laws, over the long term, I'd probably say there's greater advantage to less honorable entities than honorable ones, but, to be fair, that last bit is opinion rather than fact, as this really is another of those "is technology X inherently good or bad, or is it rather those who use it, and, if the latter, what can be done to protect vs the worst abuses from it." The problem with crypto, of course, is that its nature specifically obfuscates, if not entirely hides, the ability to locate, and thus penalize, "those who use it," which makes it more difficult than most technologies to protect against negative uses.
No, because there isn't any actually useful features.
i dont really get it either. it sounds like its the thing the main character in silicon valley made lol
Having followed Web 3 and crypto got a few years, I am still waiting for a good use case to be proposed. Apart from speculation it hasn't managed to find a utility that is better than the current way of working.
until web3 has a killer app it's hot air. personally i would expect that to have happened by now
did you know when web 2,0 arrived? I didnt. The blockchain networks are not ready, and will not be completely ready, when they are you wont have a choice just like you didnt have a choice with 2.0, the services you use will be using it and you will probably not know, unless your conscious of the difference in function
As described in the video, I admit that a DAO kind of just sounds like a discord server and a pyramid scheme. I assume there’s meant to be some way the token grows in value beyond “more people join”?
I haven’t really seen any use of crypto that’s not a pyramid scheme. Everyone’s using it to try and get rich quick and for the token to gain value more people need to own it.
No, it pretty much is just that
As with most crypto, usually the only source of growth is either the farming of tokens, or the minting of new tokens for purchase. The latter of which will likely only come from new blood interested in buying into whatever program. I've seen some who have debated using a central authority in programs like this, that would deposit "interest" into the accounts of those who stay over time. While that's an interesting enticement, it breaks the idea of being decentralized.
As a software engineer, the tech in use for web3 is really cool. But it also feels like we're using a supercomputer to calculate the tip at Subway. It's overkill and most of the applications so far have been pretty novel
I still like the concept of a distributed public ledger/record that is difficult to tamper with. This kind of ledger can act as a permanent public record for different kinds of information (not just cryptocurrency transactions). The specific public ledger I had in mind is a time stamping ledger where you give it a some file/document and the system creates a sort of hash/signature of the file then adds that hash/signature to the ledger with a given time stamp. For example, let's say you have written a paper but you don't want to make it public yet but you want to have a public record that a version of this paper exists at this current time. You submit this paper to the system and the system will add the hash/signature of this paper + a time stamp to the ledger.
Or you can just send the hash of the document to whoever needs to verify it later via email. Or publish it on a few social media sites/pastebin/web archive. Or send it to multiple trusted people and ask them to sign your message with the date it was received with their digital signature. Or issue ssl certificates for "yourhash.yourdomain" in multiple certificate authorities that underpin the trust in the security of "https". Or use a notary. Or send it via snail mail in a tamper proof envelope (postmark will contain the date).
If you do it without blockchain you're trusting that many large corporations/governmental agencies/trusted people would be unwilling to simultaneously silently edit all your messages without leaving a trace anywhere.
If you're doing it using blockchain - you're trusting that 51% of the anonymous miners would be unwilling to do the same thing. Sure, at the moment it looks like blockchains (at least the mainstream ones) help to spread the trust over much more people, but it's the state of the things right now. At some point there would be only one bitcoin miner, just because nothing is eternal. What would happen earlier: the demise of bitcoin or the demise of all well-known websites that allow you to post a comment and happily timestamp it for you?
So the only difference (as I see it) is that the corporations have known stakeholders and people who could influence them (i.e. governments), and in blockchains those stakeholders are unknown and (currently) are more numerous. This goal could be achieved with the same level of tamper-proof-ness without blockchains.
Sorry to be like this but I think your idea with hashes has a critical flaw. Hash collisions. Sure unlikely but clearly existent. Imagine "losing" the ability to use that system for your doctor thesis because someone uploaded a another version of a Mac 'n cheese recipe.
Also honestly I think if you trust people that little don't send it to them.
Edit; i thought of an additional issue. Could you prove in court that your hash is NOT a mac'n cheese recipe? Again sound silly but then again, wanna take challenge? Additionally why wouldn't people upload random files/hashes to get a wide hash ownership? You cannot filter without showing someone the real file.
@@tartas1995 "unlikely" doesn't come close to describing it. Hash collisions in a cryptographically secure 256 bit hash are practically impossible (probably of 1/2^256), even if you use all the worlds computing power to generate one on purpose it would take longer than the lifetime of the universe .
And yes, you can prove it in court, that's why they invite expert witnesses in these kinds of cases. The legal standard would be "beyond reasonable doubt", and a probability so low definitely matches that.
Thank you
Much more interesting if you're looking for community is something like Mastodon. It's been around for a while and the distributed nature of it makes inherent sense as to why it's that way.
It's basically an email service that functions as social media. (Anyone can host their own and you can all message one another.) There's no banning from the whole thing just like you can't have an email banned by every service. But at the same time Google could drop your account and you'd be forced to go to yahoo
Bitcoin is like 80% from renewable sources unlike eth using mostly Amazon. Getting community from these things directly from investment I don't think is feasible. Just put that energy into hobbies that are community aligned or try a game that focuses on user interaction. ❤️
Sounds like a Ponzi scheme
I think you hit on the biggest problem with a DAO here - It's just an organization. There's nothing new or novel about a DAO, other than that it's an organization that uses crypto. But you can just make or join an organization that does what you want without crypto instead.
Contrary to popular mainstream media stories, Bitcoin is the most environmentally responsible, since it effectively incentivizing the most efficient, local, renewable energy for the computing power for maintaining a hyper-resilient global database. Most miners aim to use waste energy, solar, wind, geothermal, etc, and mining machines are designed to be as efficient as possible. Bitcoin might not be what we want in the long term, but as with many new technologies we tend to use them for dumb reasons first (competitions of some sort), and then learn how to use them for truly pro-social work.
I see the whole concept of money evolving into a quality of life economy, and Bitcoin's massive global, publicly run tracking system being the memetic parent of that. (I have some videos about this, if you're curious.)
Interesting. . .
no one knows what a "DAO" is and putting it in the tittle is a bad idea.....always use full words...never use acronyms.... especially not obscure ones. Yes you explain it... but you wouldnt have to, if you just used real words.
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