It would be great to have a StackExchange section for Web Data (#RDF #LinkedData), but it is quite hard to get going - as we found out when we tried to do this for SAFEnetwork.
If you agree, you can help it happen by asking some questions and upvoting others you would like answered, here: https://area51.stackexchange.com/proposals/120833/web-data
Good news for SAFENetwork though - both magnet sites and safe links could be hosted anonymously and be immutable.
re bancor I have a hard time getting my head around the idea that a function that needs an arbitrarily set constant to govern the supply/demand curve could be a viable substitute to a classic, limit order book based, exchange. It’s great if it works, a real game changer indeed, and I wish them all the best. However, I can’t imagine their algorithm won’t get exploited, not through bugs but by gaming the basic mechanism.
Creators of SAFE network. Pay once to upload, Store forever digital economy.
Bancor simply automates conversion, the big picture is that cryptocurrency as a whole is getting gamed. There is no free market that’s governed by supply/demand, because whoever holds more currency always dictates the prices of things, unless your token becomes resource based.
Sure elites have billions of dollars, so dumb money down to time. Spend 1hour in our app/farming, receive 1hour /3600 tokens that you can use in the app. Hmmmm how do companies discover what this 1hour is worth? How about the minimum wage that they pay to their employees? Your minimum wage is $15/hour? Voilà there’s your contractual price discovery.
This token can buy me $15/hour of goods and services at your company. This is actually a stablecoin that I’m describing, but not based on a company printing tokens that’s pegged to fiat. Blablabla…
Really really sad actually. It is a real issue as humans just always choose easy over correct. Many of those same people though complain about the environment, animal welfare and more, then add to the problem without a care in the world. It is like litter louts on a grand scale.
A tough nut to crack for sure.
I don’t share such a bleak picture of Firefox’s state and future as painted in that article @happybeing. Rust to WebAssembly looks to be capturing developer mindshare as the way forward for ushering in a wave of native performance web apps and Firefox is well positioned well to capitalise on that as Rust is a Mozilla project. Despite Google’s monopoly search position allowing them to promote Chrome to #1 with fickle end users in a few short years, they were unable to equally promote Dartlang to web developers. Google have not given up (see flutter), but unlike the end users of browsers who can very easily switch given the motivation, web developers appear to be far more conscious of how destructive it would be to the web ecosystem to hand monopoly control over both the browser and the next gen standard for web apps to a self serving monopolistic company such as Google.
I really hope for this to come to fruition as you say, I really do.
The Safe Network could help this along in a big way by adopting Rust and WebAssembly as the reference standard for it’s distributed web apps (sapps, programs, whatever they will eventually be called
Edit: P.S Would probably require ditching chromium electron and/or starting a (much less polished) servo.org based Safe browser to take advantage of a browser that includes standards based WASM and Rust. Who said resisting a monopoly was easy?
Thankfully not all humans.
However, it does it using the naive understanding of how conversion works. Again, I’m not against Bancor, I think it’s an awesome idea and it’s being used by really cool initiatives, like community currencies. I just don’t think it can work.
It brings truly an exciting premise but, frankly, I couldn’t imagine how they could pull off pricing the tokens against each other in real time without a limit order book. So, I looked into it and, to my horror, Bancor handles this by letting the token providers define the token’s dynamics by specifying a constant. I’m sorry but markets don’t work like that.
Exchanges are special because they shove the order book in your face but, in reality, the whole world works this way. If you want to buy a lot of something, then you’ll need to shop around and work with the prices you’re given, first with the cheaper ones and then with the more expensive ones, but the moment merchants realize others ran out of this thing, they’ll raise their price before you get there.
Bancor tries to replace this mechanism with an unrealistic formula and hope that real exchanges will help arbitrage the true price. I’m just not sure it is a robust approach and, if it isn’t, it will be gamed.
TL;DR There is no such thing as a “simple conversion”.
I disagree. That isn’t the big picture but the short-term view. Regardless all the hype, crypto is still on the a fringe. Bancor may do relatively well under this climate and still be utterly broken in the long run.
Fiat currencies are explicitly not resource based (banks create money out of thin air each time they hand out a new loan), yet they’ve been doing a decent job.* It’s more about lack of liquidity, unease of use, no regulation and general acceptance, and even the lack of (gasp!) inflation, that would work against hoarding (that is, whales), that most crypto is utterly useless.
* Some may have strong feelings about how badly fiat currencies have been doing their job since abolishing the much-worshiped gold standard, but it would be hard to dispute that billions use them everyday with great success.
I had the impression WASM is a standard, already well supported by all major browsers. Rust to WASM is done by the compiler so that part is irrelevant.
Your right. I was more thinking based on a browser developed in Rust like Servo is when I wrote that… but yes it does not matter which browser as long as they support the WASM standard.
I don’t know where to post it so here it is in “what’s up today”
Beautiful! Just one article worth 10x more than all the “marketing” suggestions thrown around here for the last few years (I know people mostly mean well but amateur marketers´ advice has not convinced me personally).