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>if they had built a platform to buy and sell images that wasn’t nominally based on crypto, I don’t think it would have taken off...because this is a gold rush. It wouldn't have taken off because it would have been riddled with payment fraud, forgeries and regulatory problems.

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Moxie Marlinspike

@moxie

· Jan 7

Wrote some notes summarizing my first impressions of web3: moxie.org/2022/01/07/web

Jesse Powell

@jespow

>to accept a bid...over $80-$150+ just in ethereum transaction fees...Payment fees by credit card...look cheap... Depends on the size of the transaction but you have to factor in the risk of a 100% chargeback loss with a credit card. Not all potential buyers hold credit cards.

6:05 AM · Jan 9, 2022Twitter Web App

Replying to

>I can run my own mail server, but it doesn’t functionally matter for privacy, censorship resistance, or control – because GMail is going to be on the other end of every email... But how far would Gmail go if you didn't have the option to run it yourself? The option has value.

Jesse Powell

@jespow

Jan 9

>This might suggest that decentralization itself is not...of...importance to...people Where the decentralization happens is more important than how much of it is happening. Centralized oracles aren't as bad as centralized settlement, which is where the regulatory barriers are.

Jesse Powell

@jespow

Jan 9

/🧵 I expect the crypto infra/oracle services to become more diversified over time. For the most part, coins are safe while at rest in a non-custodial wallet, and risk only happens at time of transfer. Most transfers are low value. High value transfers can verify for themselves.

Replying to

Bruce Fenton founded a blockchain based on #Bitcoin code & Bitcoin ethos that allows for the affordable creation & transfer of assets. Best of all it was done like #Bitcoin without an ICO, premine or any funds set aside for insiders. 100% decentralized. There’s hope for web3.

Replying to

and what if the tx runs out of gas? you have paid for nothing!

@Celsius_Voyager

Jan 9

Replying to

@jespow

Yes but what about the Ethereum validators who decide to reorder the transaction history to put their bids in the blocks first? They get the first mints. Auctions on EVM still have some serious problems that need to be solved.