It’s a popular myth that a Bitcoin’s value is based on nothing, just pulled out of thin air by math. But that’s not true—Bitcoin is a way to commoditize energy consumption without accidentally producing anything useful. Other energy-intensive industries tend to convert energy into useful materials like aluminum or cement. Bitcoin converts electricity into waste heat and records its destruction in the form of numbers, which can then be traded for other numbers but not used to make anything people need or converted back into energy.
If you’re interested in so-called web3, you should definitely follow Molly White.
How long can it possibly be “early days”? How long do we need to wait before someone comes up with an actual application of blockchain technologies that isn’t a transparent attempt to retroactively justify a technology that is inefficient in every sense of the word? How much pollution must we justify pumping into our atmosphere while we wait to get out of the “early days” of proof-of-work blockchains? How many people must be scammed for all they’re worth while technologists talk about just beginning to think about building safeguards into their platforms? How long must the laymen, who are so eagerly hustled into blockchain-based projects that promise to make them millionaires, be scolded as though it is their fault when they are scammed as if they should be capable of auditing smart contracts themselves?
The more you think about it, the more “it’s early days!” begins to sound like the desperate protestations of people with too much money sunk into a pyramid scheme, hoping they can bag a few more suckers and get out with their cash before the whole thing comes crashing down.
A very even-handed and level-headed assessment by Laurie, who has far more patience than me when it comes to this shit.
The term “web3” is a transparent attempt to associate technologies diametrically opposed to the web with its success; an effort to launder the reputation of systems that have most effectively served as vehicles for money laundering, fraud, and the acceleration of ransomware using the good name of a system that I help maintain.
Perhaps this play to appropriate the value of the web is what it smells like: a desperate move by bag-holders to lure in a new tranche of suckers, allowing them to clear speculative positions. Or perhaps it’s honest confusion. Technically speaking, whatever it is, it isn’t the web or any iteration of it.
Web3 is like a combination of pyramid schemes, scientology and Tamagotchi. There’s the fact that ultimately anything you do on blockchains costs you real money and that once you’ve paid that, you’re one of the people who need to get the next cohort of buyers onboard or lose your money. There’s believing that you’re joining a movement that’s in the know, with all kinds of interesting words and sci-fi stuff that normies just don’t understand. And there’s your portfolio, your pretty JPGs, wallets, apps and everything you spent so much time on understanding and maintaining. Good luck avoiding sunk cost fallacy there.
Much of the energy behind crypto arises from the very strong need that some people feel to operate outside of a state, and therefore outside of any sort of democratic communal overview. The idea that Ayn Rand, that Nietzsche-for-Teenagers toxin, should have had her whacky ideas enshrined in a philosophy about money is what is terrifying to me.
The underlying technology of cryptocurrency is based on a world without trust. Its most ardent proponents want to demolish institutions and abolish regulation, reducing the world to a numbers game which they believe they can win. If the wildest fantasies of cryptocurrency enthusiasts were to come true, if all the environmental and technical objections were to fall away, the result would be financial capitalism with all the brakes taken off.
The promotion of cryptocurrencies is at best irresponsible, an advertisement for an unregulated casino. At worst it is an environmental disaster, a predatory pyramid scheme, and a commitment to an ideology of greed and distrust. I believe the only ethical response is to reject it in all its forms.
Did you hear the one about two Irishmen on a podcast?
I really enjoyed this back-and-forth discussion with Gerry on performance, waste, and more. We agreed on much, but we also clashed sometimes.
I want to deliver working, stable things. To do that, we need to understand what we are building, in and out, and that’s impossible to do in bloated, over-engineered systems.
This pairs nicely with Craig’s post on fast software.
Everyone is busy building stuff for right now, today, rarely for tomorrow. But it would be nice to also have stuff that lasts a little longer than that.
I just got a new laptop and I decided to go with fresh installs rather than a migration. This really resonates:
It just seems that nobody is interested in building quality, fast, efficient, lasting, foundational stuff anymore. Even when efficient solutions have been known for ages, we still struggle with the same problems: package management, build systems, compilers, language design, IDEs.
The carbon cost of collecting and storing data no one can use is already a moral issue.
So before you add another field, let alone make a new service, can you be sure it will make enough of a difference to legitimise its impact on the planet?
The benchmarks that advertising companies use — intended to measure the number of clicks, sales and downloads that occur after an ad is viewed — are fundamentally misleading. None of these benchmarks distinguish between the selection effect (clicks, purchases and downloads that are happening anyway) and the advertising effect (clicks, purchases and downloads that would not have happened without ads).
It gets worse: the brightest minds of this generation are creating algorithms which only increase the effects of selection.
A terrificly well-written piece on the emperor’s new clothes worn by online advertising. Equal parts economic rigour and Gladwellian anecdata, it’s a joy to read! Kudos to Alana Gillespie for the great translation work (the original article was written in Dutch).
We currently assume that advertising companies always benefit from more data. … But the majority of advertising companies feed their complex algorithms silos full of data even though the practice never delivers the desired result. In the worst case, all that invasion of privacy can even lead to targeting the wrong group of people.
This insight is conspicuously absent from the debate about online privacy. At the moment, we don’t even know whether all this privacy violation works as advertised.
The interaction design of this article is great too—annotations, charts, and more!
The Hiding Place: Inside the World’s First Long-Term Storage Facility for Highly Radioactive Nuclear Waste - Pacific Standard
Robert McFarlane’s new book is an exploration of deep time. In this extract, he visits the Onkalo nuclear waste storage facility in Finland.
Sometimes we bury materials in order that they may be preserved for the future. Sometimes we bury materials in order to preserve the future from them.
When you stop to consider all the implications of poor performance, it’s hard not to come to the conclusion that poor performance is an ethical issue.
This is fascinating! A website that’s fast and nimble, not for performance reasons, but to reduce energy consumption. It’s using static files, system fonts and dithered images. And no third-party scripts.
Thanks to a low-tech web design, we managed to decrease the average page size of the blog by a factor of five compared to the old design – all while making the website visually more attractive (and mobile-friendly). Secondly, our new website runs 100% on solar power, not just in words, but in reality: it has its own energy storage and will go off-line during longer periods of cloudy weather.
Ping! That’s the sound of my brain going “service worker!”
I’ve sent them an email offering my help.
An even thornier problem than the Clock of the Long Now.
A website dedicated to one of the most, um, interesting solutions to the Yucca Mountain nuclear waste storage problem:
- Engineer cats that change colour in response to radiation.
- Create the culture/legend/history that if your cat changes colour, you should move some place else.
There are T-shirts!
A demo reel for the proposed solution to a very, very, very long term problem.
Trying to design a warning message for future generations, without relying on language, writing or current semiotics.
We considered ourselves to be a powerful culture. This place is not a place of honor…no highly esteemed deed is commemorated here… nothing valued is here. What is here is dangerous and repulsive to us.