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Pinboard

@Pinboard

The light inside is broken, but I still work. The Cadillac of online bookmarking sites. Alleged nocoiner. http://pinboard.in  maciej@ceglowski.com +1 415 610 0231

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    1. Pinboard‏ @Pinboard May 31

      The thing I really enjoy about non-fungible tokens (NFTs) and "smart contracts" more broadly is that there's no way to get them to point to information or objects outside the blockchain without introducing a trusted third party, the whole thing you set up a blockchain to avoid.

      25 replies 134 retweets 763 likes
      Show this thread
    2. cat-like friend of dog‏ @leeazzarello May 31
      Replying to @Pinboard

      It's even worse. It is possible to avoid a trusted third party but no one does it because they didn't read the spec and/or doing so would come at a higher expense! Truly the final form of capitalism.

      1 reply 0 retweets 3 likes
    3. Pinboard‏ @Pinboard May 31
      Replying to @leeazzarello

      What's the "possible in principle" techinique for decentralized oracles?

      2 replies 0 retweets 4 likes
    4. Robert Link‏ @rplzzz May 31
      Replying to @Pinboard @leeazzarello

      Briefly, they have a bunch of participants vote on the right answer. The assumption seems to be that they will all be independently verifying the data, but I expect in practice they will all be looking at the same data feeds, making the feeds trusted elements of the system.

      3 replies 0 retweets 9 likes
    5. PythonMetaclass‏ @elsdoerfer May 31
      Replying to @rplzzz @Pinboard @leeazzarello

      People may find it difficult to agree on, say, the outcome of a presidential election. For this reason, these bets are usually defined not as "who wins", but "who is declared the winner by the NYT". i.e. everyone looking at the NYT front page is not a bug, but the point.

      1 reply 0 retweets 1 like
      Pinboard‏ @Pinboard May 31
      Replying to @elsdoerfer @rplzzz @leeazzarello

      And the whole system works great until the amount at stake in the contract exceeds the cost of a dream home for whoever runs the NYT website. The point is the link between smart contracts and the outside world inevitably require trusted parties, obviating the rest of the system

      3:06 PM - 31 May 2021
      • 14 Likes
      • Michael Pyne doitninetimes giulio rospigliosi Apollo Slater Vilhjálmur Þorsteinsson Screeching Voice Of The Minority Mandel Ken Seven Deadly Sins
      2 replies 0 retweets 14 likes
        1. New conversation
        2. Robert Link‏ @rplzzz Jun 1
          Replying to @Pinboard @elsdoerfer @leeazzarello

          Or, for that matter, for a widely held contract like that, what are the chances that participants in the oracle network don't have an interest in the outcome?

          1 reply 0 retweets 0 likes
        3. Robert Link‏ @rplzzz Jun 1
          Replying to @rplzzz @Pinboard and

          Are we sure that there is no way for the winner of the proof of whatever to sell their decision to the highest bidder (perhaps through a carefully crafted smart contract?)

          1 reply 0 retweets 0 likes
        4. Show replies

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