scyclow

This is where non-financial use of blockchain could really shine, IMO. Self-sovereign identity management with a smart contract-based process for recovering ids if keys get lost or hacked. Blockchains are pretty out of favor these days, but I really don't see a better solution for decentralized identity management.

No, people are still trading them for some reason, and there's pretty good liquidity. The highest offer right now is $15.2k, which someone can dump any of the 10k apes for that. And there were 16 sales (totaling $271K) in the last 24 hours.

It does fluctuate, but the floor price is still miraculously $16k

I don't know what American LLMs you're using. Just asked Claude, which gives nuanced answers on both, but amounts to "It's contested, but numerous authoritative bodies say yes" and "it depends on your definition of gender".

As an American, I can conclusively say that we absolutely have no moral high ground whatsoever. But bringing the topic back to LLMs, I don't feel great about using an LLM that has a panic attack any time I ask about Tiananmen Square or Taiwanese sovereignty.

Really? Blocked how?

I agree as it relates to bitcoin: It's positioning itself as a store of value... and it kind of works as long as the collective delusion that it _is_ a store of value holds up. But that sort of self-fulfilling prophecy is kind of flimsy. Governments get to decide what money is based on charging taxes and demand how it gets paid.

Legal contracts are similar. They 100% are reliant on social and institutional forces for enforcement and meaning. But I think smart contracts are different because they are self-enforcing. It would be very difficult to use a smart contracts as a replacement for legal contracts in most circumstances. But when the contract relates to state and digital assets on the network then it's a great tool. And if you end up with a network that hosts a lot of these important contracts, then the native crypto asset (which is used as gas to power said contracts) has value as a commodity. And if that commodity also shares all the properties of good money (fungibility, durability, portability, etc.) then all of a sudden you have money.

Author here. Gas costs have actually come down a lot over the past few years. It only costs me a few dollars to run the transaction. It's more that scheduling, setting up, conducting, and tearing down each burn session is a huge pain in the ass. So if I can burn 10 bills an hour, then I'd clear maybe $450 an hour after gas, which doesn't feel crazy for providing boutique financial services.

That's not really a valid criticism. You can say that same thing about any protocol. Who's to say that the majority of btc hashing power isn't single force or conspiring group?

Being able to handle Bitcoin transactions is fine, but it's disingenuous to act like it's the only way to be truly decentralized.

Frankly, this is better than a stablecoin since the value is locked on the blockchain forever no matter what.