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The moment reliable custodial behaviors built around airgapped hardware wallets becomes central, you've opened the door for robots eating everything. Every robot will soon be basically an extremely complicated hardware wallet. Just like we're basically complicated digestion tubes
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When we build the Web4 wallet-robots, there should be a low-level firmware logic that turns a pair of LEDs from green to red when it turns evil through malicious code.
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Replying to @vgr
A hardware wallet that can run malicious code is no better than a software wallet.
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Gotta move to PoS and L2 stuff soon. These calculations are always super sketchy and comparisons are often disingenuous but zero-carbon blockchains are a necessary goal.
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"The average NFT generates 440 pounds of carbon—the equivalent of driving 500 miles in a gas-powered car—producing emissions 10 times higher than the average Ethereum transaction" news.climate.columbia.edu/2021/09/20/bit
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In the past I’ve countered “bitcoin uses more energy than Nigeria” opening gambits with “whatabout all the physical bank branches with AC and people and ATMs?” but it’s a lose-lose type whataboutism detpfest argument to have.
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Details
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Happy holidays 🦃 Listed now: a 1/1 NFT @withFND to celebrate Worlding in times of compounding enchantment. The final digital drawing from my 2019 Ribbonfarm guest post “World To Live” foundation.app/@eyecheng/~/10
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Perfect drunken afterparty coda to the saga... my $200 donation to the thing got me 42k $PEOPLE a few weeks ago, and because I was lazy about claiming my refund, this morning I found myself holding 42k worth of the latest, greatest memecoin, worth about $3200 🙄
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I just sold about 8000 to bank about a 2x return, net of tx fees, and am gonna sit on the rest to see where it goes. Unless someone does something more interesting with it than simply pump it as a memecoin, plan is to dump all but 42 tokens somewhere along the way.
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Much as I like experimenting, I've never liked the pure memecoin end of this stuff, and never bought any doge or other obviously meme-ish thing with no interesting tech angle behind it. I think there is room for complex non-tech social stuff to happen, but pure memeing ain't it.
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Since I started this casual experimentation on Nov 7, I think I've made enough money off the things I've been doing on this thread that it's now the 3rd highest earning gig of 2021 for me. Only my largest consulting project and my Substack have made more $.
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This is more than mildly worrying. Even after factoring out frontier serendipity, random relatively clueless 101 experimental trial and error should not have such ridiculous returns on effort/time.
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The bulk of my returns are from the ENS drop (even after selling a third early to cover downside, the rest is currently worth 20k) which has nothing to do from being internet-famous. But fair point for my nfts.
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Replying to @vgr
seems too obvious to say but this is only the case for (internet-)famous people if I did exactly what you did the return would be negative
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I've never actually cnfrmed it, but i have this suspicion that memecoins might have the widest decentralization of ownership in the space. They're the lowest/basest common denominator of crypto. However it may have come about, that might prove to be uber imp. for sustainability.