2,573 karma · joined September 28, 2009
2) The example of fraction is not just a "selling platform", but an actual real problem being solved (fractional ownership of real-world items). In LATAM for example, there are exceptionally convoluted structures to partially build and own low-income centers of commerce (kind of like malls). Fake ownership documents are very common. This solves that problem squarely. There are more real-world use cases like this.
1) Finance (DeFi). Even for valid (non-criminal) uses cases, there are numerous laws and regulations that translate into crazy fees to do proper crossboder money transfer. I transfer money every month from the US to different countries in LATAM to pay employees, and historically you get screwed with various fees depending on how you structure the transfer (e.g. to the employee directly vs. to an entity in the receiving country that disburses the money to different local employees).
During the past few years I have encountered everything:
- unexpected fees beyond the local transfer fee at the receiving end (that change some times) (hello folks at Interbank!)
- low-fee provider that canceled our account because the TOS said that the service was meant to be used to send money to family and not to employees (hello folks at Xoom!)
- holding of money transferred for a week because of some threshold passed that triggered some AML check (hello folks at BCP!)
- provider that canceled transfer to a particular country for political instability (hello folks at Transferwise!)
- etc etc
All that goes away when you use p2p networks (like the ones from Binance https://p2p.binance.com/en?fiat=CNY&payment=ALL) and stablecoins to transfer money. The fees are low (or sometimes non-existent) and the transfer happens in seconds (vs the hours/days in a traditional system). Literally millions of cross-border dollars get transferred this way every day. Additionally, I hear of other folks who have escaped authoritarian regimes but still have family in those countries where there are strict restrictions to send/receive money. Guess what they are using?
2) Digital Property/Rights: Whether you want to accept it or not, there is an entire market where all kinds of property is being transferred through smart contracts. Sometimes the traditional digital item (say an NFT) has an associated real-world contract attached to it that extends some sort of right/ownership of a physical item in the real world. The rights to these items is being transferred from person to person every day. That market keeps growing, and it is not just "exchanging jpegs" anymore.
For both of these use cases, there are real world scenarios where a central authority has been by-passed for a legitimate transaction. And it happens every day today. The use cases for web3 is not running a "distributed Wordpress instance", but other useful real-world use-cases like these that we are starting to discover.
It did not matter that Merck (the lab that discovered Ivermectin), said to not use it for COVID. Tons of money made and people died. I have never cussed in HNs, but with all due respect F** tha* shi*!
I have toy site that gets around 100k users a month, with background services like a postgres db... and it costs me under $20 to run. I do everything in CloudRun (serverless) with a managed DB. What in the hell is this person doing?
When I need a to write a small web service, I usually just grab a python micro-framework and do the work. Not much complexity and not a lot of setup required. When I need to do something more elaborate that needs structure because it will get extended over time, I will take my time to setup something like Django... but it would be too much unnecessary work do to that for small web services.
The same applies to front-end.
When I need a few quick HTML pages that need some quick DOM manipulation, I usually just grab jQuery and do what we have been doing for years. Whenever I know that something will get extended over time and needs structure, that is when I take the time to setup React/Redux and all the build scripts necessary to make it work.
Just personal preference, but I am sure I am not alone...
https://www.opensecrets.org/federal-lobbying/clients/summary...
In Perú we are (sadly) keeping track of the pandemic by comparing the daily death count from previous years with the one for this years. You can safely assume: - there is no contact tracing - adherence to mask usage is good - social interactions are generally avoided with the usual folks that don't pay attention and an increase in those interactions every week.
These are the "death curves" of every region:
This is what happens when your government does not do anything and pretty much every one gets infected and your healthcare system collapses. You get a high spike in daily deaths and then a sharp drop (Lima is a special case for many reasons - size and geography).
Heard Immunity in every region (except Lima - yet). Seroprevalence studies are on their way...