Tags: blockchain

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Monday, June 28th, 2021

ReCoil

On the Coil developers site there’s a page proudly answering the question who is web monetized?

You’ll some familiar sites in there: CSS Tricks, A List Apart, and even this humble website, adactio.com.

But lest you think that this social proof is in any way an endorsement, I should probably clarify what my experience with Coil has been like.

Coil itself is grand. You get an identifier and you add it to your website in a meta element, much like you would do with indie web endpoints for webmentions or micropub.

The problem is with how you then actually get hold of any money that is owed to you from micropayments. Coil doesn’t handle this directly. You have to set up a “wallet” with a third-party service and therein lies the problem.

They are all terrible.

I’m not talking about the hoops you have to jump through to set up an account. I get it. This is scary financial stuff so of course I’ll need to scan my passport and hand over loads of information (more than is needed to open an actual bank account with, say, Monzo).

No, the problem is the stench of crypto.

I tried Stronghold for a while. They really, really don’t want you to use boring old-fashioned currencies like the euro or the pound. There’s also Gatehub. Same. And there’s Uphold. Also a shell game.

I’ve been using Coil and Uphold for a while now, and I’ve amassed a grand total of £6.06 — woo-hoo! So I log into my account and attempt to transfer that sweet, sweet monetisation and …I can’t.

The amount needs to be greater than or equal to £11.53 GBP

But I can still exchange that £6.06 for magic beans like Bitcoin, XRP, and Ether.

The whole thing smells of grift and it feels icky to be in any way associated with it. I understand why Coil needs to partner with existing payment providers, but it would be nice if just one of them weren’t propping up ponzi schemes. If anyone has found a way to get web monetisation to work without needing like you need to take a shower afterwards, I’d love to hear about it.

Tuesday, April 27th, 2021

Cryptocurrency is an abject disaster

Cosigned.

Cryptocurrency is one of the worst inventions of the 21st century. I am ashamed to share an industry with this exploitative grift. It has failed to be a useful currency, invented a new class of internet abuse, further enriched the rich, wasted staggering amounts of electricity, hastened climate change, ruined hundreds of otherwise promising projects, provided a climate for hundreds of scams to flourish, created shortages and price hikes for consumer hardware, and injected perverse incentives into technology everywhere. Fuck cryptocurrency.

Wednesday, October 21st, 2020

Blockchain, the amazing solution for almost nothing - The Correspondent

A devastating deep dive into the hype of blockchain, written by Jesse Frederik and translated by Hannah Kousbroek:

I’ve never seen so much incomprehensible jargon to describe so little. I’ve never seen so much bloated bombast fall so flat on closer inspection. And I’ve never seen so many people searching so hard for a problem to go with their solution.

Tuesday, February 19th, 2019

Blockchain and Trust - Schneier on Security

Honestly, cryptocurrencies are useless. They’re only used by speculators looking for quick riches, people who don’t like government-backed currencies, and criminals who want a black-market way to exchange money.

Bruce Schneier on the blockchain:

What blockchain does is shift some of the trust in people and institutions to trust in technology. You need to trust the cryptography, the protocols, the software, the computers and the network. And you need to trust them absolutely, because they’re often single points of failure.

Thursday, December 6th, 2018

Four Days Trapped at Sea With Crypto’s Nouveau Riche

A brilliantly written piece by Laurie Penny. Devestating, funny, and sad, featuring journalistic gold like this:

John McAfee has never been convicted of rape and murder, but—crucially—not in the same way that you or I have never been convicted of rape or murder.

Thursday, July 12th, 2018

Unchained: A story of love, loss, and blockchain - MIT Technology Review

A near-future sci-fi short by Hannu Rajaniemi that’s right on the zeitgest money.

The app in her AR glasses showed the car icon crawling along the winding forest road. In a few minutes, it would reach the sharp right turn where the road met the lake. The turn was marked by a road sign she had carefully defaced the previous day, with tiny dabs of white paint. Nearly invisible to a human, they nevertheless fooled image recognition nets into classifying the sign as a tree.

Saturday, March 10th, 2018

Bitcoin Is Ridiculous. Blockchain Is Dangerous: Paul Ford - Bloomberg

An astoundingly great piece of writing from Paul Ford, comparing the dot-com bubble and the current blockchain bubble. This resonates so hard:

I knew I was supposed to have an opinion on how the web and the capital markets interacted, but I just wanted to write stuff and put it online. Or to talk about web standards—those documents, crafted by committees at the World Wide Web consortium, that defined the contract between a web browser and a web server, outlining how HTML would work. These standards didn’t define just software, but also culture; this was the raw material of human interaction.

And, damn, if this isn’t the best description the post-bubble web:

Heat and light returned. And bit by bit, the software industry insinuated itself into every aspect of global enterprise. Mobile happened, social networks exploded, jobs returned, and coding schools popped up to convert humans into programmers and feed them to the champing maw of commerce. The abstractions I loved became industries.

Oof! That isn’t even the final gut punch. This is:

Here’s what I finally figured out, 25 years in: What Silicon Valley loves most isn’t the products, or the platforms underneath them, but markets.

Tuesday, September 5th, 2017

From blockchain to drones, we need to stop obsessing about tech megatrends | WIRED UK

Perhaps the blockchain is the technology equivalent of the panda. You hear an awful lot about it without ever being clear what exactly it’s for and why we should care if it disappears.

Russell Davies on the megafauna of technology.

The other big hitters are probably drones, robots, AI and self-driving cars. It used to be smartphones and 3D printing, but they’ve become too ubiquitous and banal. You can’t be charismatic if you’re everywhere.