I keep telling myself I don't have the time to blog about how fucking dumb the blockchain hype is otoh I already wake up every morning furious with bitcoin
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Was recently at a UN event discussing using blockchain for property transfers. Big snag was if people lost or damaged the USB stick (or whatever storage method) with their key. But that, it was explained to me, wasn't a blockchain problem. It was an IRL one.
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ah yes, IRL, which is definitely not OUR problem
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land records are definitely the least idiotic governmental use case scenario but there are issues (like that)
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Yeah and none of this helps with theft or coercion ¯\_(ツ)_/¯ What's bizarre to me is that all these problems already demonstrable & present in Bitcoin & cryptocurrency systems, but nobody seems to be contending w/ them.
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right, cryptocurrency as *currency* is supposed to be the cleanest use case for blockchain and it's still highly susceptible to user error
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Have you figured out a way to characterize that set of problems? Like it's not quite "last-mile" problems, but like, it's somewhere in that kind of direction.
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I forget if there's a security term for endemic user error problems but it would fall into that class of problems
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"Badly designed systems"
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Time-stamping is one application that seems non-insane to me. If you just need to prove that a certain piece of data (or prior art, say) existed at a certain time it could be quite useful.
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But the advantage here is there's no need to 'trust' the data being stamped. It either exists or it doesn't - not being offered for truth of matter or for who owns it or whatever
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I guess there’s that! Pretty limited set of uses although one of those is pretty appealing to you specifically (although, like, we have a centralized system for that already)
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Yeah, it's certainly not something that <i>requires</i> a blockchain. Courts generally trust dates in Internet Archive, e.g.. Would love for versions of open source software to be reliably dated - a common challenge in patent litigation.
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Does the rise of Github not solve this in more recent open source projects?
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I wondered that very thing as I typed the tweet - for now most cases still need prior art from 10+ years ago but maybe it will be better in future
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The best use is for citizen science, app that gives out tokens based on posting photos/capturing envtl data . Tokens get released every year, and bam, global database with annual updates to track climate change not subject to who runs EPA. Good luck not getting shot in TX tho
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What you think about something like
@OPENDIME which is a physical thing that can be passed around in meatspace in a trustless way. It's a step toward unforgeable stuff that isn't just data on the blockchain. -
“trustless” is a huge red flag. Money is fundamentally a means of meditating trust. You can't have “trustless payments” anymore than you can have liquid-free oceans. What “trustless” means in practice is “we've transferred the risk from the business to the consumer”. Yay?
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Not sure what you mean, in the context of transferring an OpenDime to another person it is trustless in that the other person doesn't need to trust that I've given them the right amount, they can verify it themselves easily (like handing a dollar bill over)
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right, but you still need to trust that either: a) they're going to do the thing they said they would do for that money, or b) that you're going to give them *any* money after they've done the thing.
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Opendime can prove that cryptographically :)
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*How*? Either: a) I pay in advance, and my payee can renege, or b) I pay in arrears, and *I* can renege, or c) I pay an escrow service. If (c), then: *) Congratulations, you've reinvented Visa, and *) You've introduced a third party who can renege on *both* payee and payor!
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