this post was submitted on 12 Sep 2024
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Using gambling as your first example when talking about use cases for crypto doesn’t exactly paint it in a good light
Nah yeah I don't disagree, I'm not a fan of gambling, I just know it was prevelant within Eve and generally prefer systems that are potentially more fair.
Similarly, I'm not a fan of prostitution, but I'd be in favor of legalizing it in the US so that they have more protection under the law. Edit: Because the reality is, people are going to do these things, so harm reduction should be the key ingredient, and I would consider a transparent smart contract system for paying out gambling winnings in a consistent manner without the possibility of being ripped off a better end-state then people potentially being ripped off because of shady dealings.
Edit2: Here's a potentially better example, I know everyone hates NFTs because of the idiotic popularity of images as NFTs, but a legitamite use would be for digital ownership of in-game goods.
Edit3: To further add to that idea, if all player items are attached as an NFT that they "own", one could build smart contracts for something as simple as letting another player "borrow" an item for a predetermined amount of time, then it reverts back to the owner.
Reminded me of the old RS days with "free gem cutting" scammers.
In theory the game dev could build a system to make that kind of thing possible natively, but with a smart contract system built in instead, it's much less overhead on the company itself and users could potentially create smart contracts for all sorts of situations on their own.
Another simple one would be since current eve operates "businesses" one could make a smart contract for paying out from the "company" coffers to its workers, rather then manually requiring someone to be a literal in game accountant.
Edit4: ooo or automated extremely customizable shopfronts for in-game items that could be both in-game and/or standalone sites that can just function off the block chain contracts for handling ownership, once again potentially bypassing a need for the game developer to develop/maintain any kind of API for handling trades in that fashion.
Edit5: last one I promise. I think a lot of people are anti-blockchain/crypto for a lot of valid reasons such as:
Scams: yeah there's a lot of rug pull examples, price manipulation, lying about feature set, fraud, etc... but nothing about the concept of the blockchain is a scam, just like in any other forms of individual ownership systems, the problem is really human greed. NFTs going for insane prices was extremely stupid, but that wasn't even cutting the surface on the potential use cases for NFTs as a transparent digital ownership tool, but it's been so tainted by the greed and manipulation of the first use case that caught on.
Power use: Proof of Work blockchains use a shitload of power and would use more and more as time went on most likely as difficulty increases, I'd still love to see a comparison of how much energy the global banking system uses to compare to but I digress, it is a real issue. ETH moved to a Proof of Stake system in the not so distant past and now requires much less energy to function, I haven't kept up too much with how it's actually gone, but it hasn't crashed and burned yet so, assuming it works and can remain secure from unintended changes, it seems like a better way to go then PoW.
Inability to reverse transactions: This is a big one and it's a hard problem to solve without some sort of real governing body, which is kinda the opposite of the point of crypto since the code is supposed to rule. Idk what to do about that one.