The Crypto Thread

All I’m trying to do is walk through the idea that I should be getting paid for the value I provided 2p2 by posting 100k times. Everything I’ve said is just following that trail, and replying to you guys. I’m not railing on anything.

But I really need to stop shitposting and make some progress on writing my book. I was doing so well - making a little progress every day. Then the holidays effed it all up.

a sorta friend of mine started a decentralized social network in like 2015 which was suppose to do exactly that or someshit. they probably raised a trillion dollars and i doubt it went anywhere, but he also started a decentralized social network in like 2015 so he is a crypto gazillionaire.

https://www.coinbase.com/price/synereo

rip other peoples money

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Social media is a great example actually. You can make a career off of being a social media influencer. Why do you think this isn’t/shouldn’t be possible on a forum too?

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I posted about this in the discord too, but I think we should literally do this here.

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Hey. Can I get an invite to the discord please

@anon3530961 can invite

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Got to be churning for the sweet airdrops. I’m like a barely +ev nfter but my volume is high so i get a lot from all these airdrops.

Something funny to me is that UP was supposed to be founded on the idea of community ownership. Crypto could be used to actually make that true if we really wanted to.

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So it’s rakeback?

My much younger brother (18) hangs out in circles with mid-level influencers with ~1 millionish followers. The rakeback they get from Facebook, etc. is like $10-15k/year, real money but not actual career money. The real money they make is from product placements, getting paid to attend events, etc.

A coworker posted this article a couple days ago, this part really stuck out to me.

One thing that has always felt strange to me about the cryptocurrency world is the lack of attention to the client/server interface. When people talk about blockchains, they talk about distributed trust, leaderless consensus, and all the mechanics of how that works, but often gloss over the reality that clients ultimately can’t participate in those mechanics. All the network diagrams are of servers, the trust model is between servers, everything is about servers. Blockchains are designed to be a network of peers, but not designed such that it’s really possible for your mobile device or your browser to be one of those peers.

With the shift to mobile, we now live firmly in a world of clients and servers – with the former completely unable to act as the latter – and those questions seem more important to me than ever. Meanwhile, ethereum actually refers to servers as “clients,” so there’s not even a word for an actual untrusted client/server interface that will have to exist somewhere, and no acknowledgement that if successful there will ultimately be billions (!) more clients than servers.

For example, whether it’s running on mobile or the web, a dApp like Autonomous Art or First Derivative needs to interact with the blockchain somehow – in order to modify or render state (the collectively produced work of art, the edit history for it, the NFT derivatives, etc). That’s not really possible to do from the client, though, since the blockchain can’t live on your mobile device (or in your desktop browser realistically). So the only alternative is to interact with the blockchain via a node that’s running remotely on a server somewhere.

A server! But, as we know, people don’t want to run their own servers. As it happens, companies have emerged that sell API access to an ethereum node they run as a service, along with providing analytics, enhanced APIs they’ve built on top of the default ethereum APIs, and access to historical transactions. Which sounds… familiar. At this point, there are basically two companies. Almost all dApps use either Infura or Alchemy in order to interact with the blockchain. In fact, even when you connect a wallet like MetaMask to a dApp, and the dApp interacts with the blockchain via your wallet, MetaMask is just making calls to Infura!

These client APIs are not using anything to verify blockchain state or the authenticity of responses. The results aren’t even signed. An app like Autonomous Art says “hey what’s the output of this view function on this smart contract,” Alchemy or Infura responds with a JSON blob that says “this is the output,” and the app renders it.

This was surprising to me. So much work, energy, and time has gone into creating a trustless distributed consensus mechanism, but virtually all clients that wish to access it do so by simply trusting the outputs from these two companies without any further verification. It also doesn’t seem like the best privacy situation. Imagine if every time you interacted with a website in Chrome, your request first went to Google before being routed to the destination and back. That’s the situation with ethereum today. All write traffic is obviously already public on the blockchain, but these companies also have visibility into almost all read requests from almost all users in almost all dApps.

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How much would that cost to implement in fees?

Sort of. It’s more like if when FT launched, they gave everyone free credits based on how much they had played at Stars.

Some of these are tied to crypto ventures (the most recent was a competitor to OpenSea - the main NFT trading platform). Others are just coins where they promise to at some point have a platform. One was a straight scam where they let people sell the coin for a short while, then stole all the money.

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At least we know you didn’t mean Grand Seiko.

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Look at all of the people getting airdropped a discord invite worth $10k+ USD just for being a member here. Your involvement in the community has already paid out bigly on UP. What did you get over at that other site: a yearly entry into a drawing for a $29.95 book discussing the finer points of 1978 video poker?

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fyi, I stepped down over a year ago and have nothing to do with keeping this place going. The two people shouldering 95% of that responsibility are olink and spidercrab, who both deserve far more appreciation for their efforts than they receive.

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I still don’t get it, where does this come from? Who pays for the creation/mining/verification of $KLAN?

Would you pay money (USD) for $KLAN?

I think that’s the same question I was asking here

Although I have no idea, really.

Idk about KLAN but an unstuck token that gives you voting rights on mods and rules and stuff, I’d buy some. And if someone like suzzer thinks his contributions are worthless he should be thrilled to get like $20 or whatever, so it’s win/win

Mining/transaction fees would be paid when you buy/sell/move the coins

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