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backus's profile
John Backus
John Backus
John Backus
@backus

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John Backus

@backus

Seeking alternative compression. Hopefully wrong on average. Shameless. Started @getcognito and @bloom

San Francisco, CA
Joined August 2012

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    1. DJ Seeds  ⚡️‏ @dj_seeds Jul 10

      Is there really anyone out there who would be incentivized by a torrent token? I think a token is the only thing that could _stop_ me from torrenting at this point. “What if BitTorrent had a token?” by @backushttps://medium.com/@jbackus/what-if-bittorrent-had-a-token-13d62a590aa7 …

      1 reply 0 retweets 0 likes
      Show this thread
    2. DJ Seeds  ⚡️‏ @dj_seeds Jul 10

      Not to mention that there already exists a tool to incentivize other people to give up their scarce resources. It’s called money; we don’t want/need your appcoin.

      1 reply 0 retweets 0 likes
      Show this thread
      John Backus‏ @backus Jul 10
      Replying to @dj_seeds

      The idea is that the token operates in the background. You wouldn't realize it is being used to balance incentives at all. There are different degrees to which you can take a network token. An in-network only token which can't be cashed out to fiat out still improves the system

      2:21 PM - 10 Jul 2018
      1 reply 0 retweets 0 likes
        1. New conversation
        2. John Backus‏ @backus Jul 10
          Replying to @backus @dj_seeds

          File sharing ecosystems are markets. The popular protocols before BitTorrent basically had zero incentives to balance resource allocation. Tokens (whatever the form) address a lot of incentives. Practitioners and researchers saw the value at the timehttps://medium.com/@jbackus/fat-protocols-arent-new-42d2c538db41 …

          1 reply 0 retweets 0 likes
        3. DJ Seeds  ⚡️‏ @dj_seeds Jul 10
          Replying to @backus

          I certainly agree that file sharing ecosystems are markets, and I think you make a great case for the implications of adding monetary incentives to the market; I'm mostly skeptical about the viability of an app-specific token vs. a more general currency like Bitcoin.

          1 reply 0 retweets 0 likes
        4. DJ Seeds  ⚡️‏ @dj_seeds Jul 10
          Replying to @dj_seeds @backus

          DJ Seeds  ⚡️ Retweeted Olaoluwa Osuntokun

          Wouldn’t the ability to earn Bitcoin (over Lightning) be even greater incentive to seed? The payments could even be per-segment atomic as in HTLC-Dashhttps://twitter.com/roasbeef/status/911415042368614400?s=21 …

          DJ Seeds  ⚡️ added,

          Olaoluwa Osuntokun @roasbeef
          Slides for my talk on HTLC-DASH: Micropayments for Decentralized Media Streaming, can be found here 👉🏾https://docs.google.com/presentation/d/16BK53bnfRVu_iHJKw2f82DRg6kk8061gxiJeKTCciKY/edit?usp=sharing … #lightning https://twitter.com/wallyxie/status/910949006964006912 …
          0 replies 0 retweets 0 likes
        5. End of conversation

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