So what's the deal with Slock.it?

[ttookk]

@ttookk,

In which acceptable economical theory "money" is considered simply as a belief system?

Hm, maybe "belief system" is not the right word, but when I sell something today, I trust that I am able to buy something with it tomorrow, despite the thing "money" having no intrinsic/functional value. That's what I tried to say.

[AleScamHole]

slock.it is just another insider cash cow piggybacked off the ETH craze

the "ethernum computer" is a fucking joke, how they gonna run that chain on a PI type device? lmao

without a sidechain system of some sort, eth is so fucked, the bloat will kill anything, as more crap get built on it

that's just imo.  slock.it guy looks like a fucking con too hahha, greasy guy, shiny suit, shit talk everything but his own project (close minded guy)

i mean go ahead, stack 7000 eth in mist, see what happens. https://forum.daohub.org/t/urgent-buying-dao-using-mist-has-hacked/1742
or better yet leave it at gatecoin, it MUST be safe there right?    http://www.coindesk.com/digital-currency-exchange-gatecoin-reportedly-loses-customer-funds-hack/


these guys are playing noobs that don't understand enough to see it.     THE new age con-men

[JollyTrades]

@ttookk,

Money actually has a functional value. You can pay your taxes to a government only by using the government's legal tender or something convertible to it. Whether you believe it is just a piece of paper or not, the police will make you believe. So it has an armed force behind its value. Thus, it is not essentially a TRUST in "you CAN pay with it", but an OBLIGATION that "you MUST pay with it" which gives the value to money.

But let's just skip this issue. I think the essence of money has not so much to do with the use cases of Slock.it. As far as the explanations given under this thread go, there is an obvious difference between Bitcoin and Slock.it as for their usability. We had known how bitcoins could be used even before the 0.0.1 version of Bitcoin's core. On the other hand, we are yet to know how Slock.it will be a better alternative to its possible centralized counterparts even after the investment pool to back it has risen more than 100 million USD.

Best,

Jian

[jubalix]

the use case for BTC is you can have a ledger that you base your life decisions around (or  % of that ) which has a predicatable supply and cannot be interfered with by state powers.

Thats a pretty powerful use case as it arbitrages out a hell of a lot of inefficiencies that are inherent in central gov, monetary regulation simly because thier is no real way for the market to effectively discipline central gov and banks under a fiat system. They just print more money and your value evaporates.

BTC also has inefficiencies, but that are of a different kind and much less inmho than Central govs.

[LegendaryMiner]

DAO, $ 108.21 M, what do you think, guys?

I think it is an inflated number. And I think if they dump the ETH in the market to get BTCs, then dump all this BTCs to get USD, they will take a fraction far from this hundred million.

[JollyTrades]

Considering there is no convincing answer as to what possible use cases there might be in reality in the future based on smart contracts apart from P2P gambling, it seems The DAO's profit opportunities will be so limited that it will be hard to achieve a satisfactory return on investment for a nine-figure capital. So there are three possible routes as far as it can be seen with the limited knowledge we now have. First, the ICO bubble continues up to a point where the original The DAO investors are happy enough with the results to cash out the profits, which would mark the end of the ICO bubble, leaving the "greater fools" with broken hopes, just as in a Ponzi scheme. The second alternative is that the ICO bubble is already so close to its peak that even the original The DAO investors will not be able to get out from the train before the crash. I see this as a less possible scenario because of the marketing resources the insiders have, and depending on the fraction of The DAO's nine-figure capital to the velocity of the ongoing angel/VC investments made in the financial ecosystem based on the blockchain technology. The third route, which is in my eyes even less likely to be taken, is that there is actually a potential in the smart contracts technology awaiting for Deus ex machina. In this route, it should be expected that The DAO will prove to be a stable decentralized collective investment scheme.

[sandiman]

Considering there is no convincing answer as to what possible use cases there might be in reality in the future based on smart contracts apart from P2P gambling, it seems The DAO's profit opportunities will be so limited that it will be hard to achieve a satisfactory return on investment for a nine-figure capital. So there are three possible routes as far as it can be seen with the limited knowledge we now have. First, the ICO bubble continues up to a point where the original The DAO investors are happy enough with the results to cash out the profits, which would mark the end of the ICO bubble, leaving the "greater fools" with broken hopes, just as in a Ponzi scheme. The second alternative is that the ICO bubble is already so close to its peak that even the original The DAO investors will not be able to get out from the train before the crash. I see this as a less possible scenario because of the marketing resources the insiders have, and depending on the fraction of The DAO's nine-figure capital to the velocity of the ongoing angel/VC investments made in the financial ecosystem based on the blockchain technology. The third route, which is in my eyes even less likely to be taken, is that there is actually a potential in the smart contracts technology awaiting for Deus ex machina. In this route, it should be expected that The DAO will prove to be a stable decentralized collective investment scheme.

https://forum.daohub.org/t/slock-it-proposal-1-discussion-thread/539
https://download.slock.it/public/DAO/WhitePaper.pdf

Please do some reading before conjecturing any outcome of the DAO. Moreover, do not make assumption on the DAO possible outcome only through slock.it, there is only one proposal to come, and much more ethereum project are on their way to according to mr. tual.

@sandiman,

With Slock.it, will people use exactly the same piece of code for renting cars and renting their Wi-Fi access? I thought there would be different measuring software units for each purpose. For instance, when renting a Wi-Fi access, the unit may measure the bytes transferred, and when renting a car, the unit may measure the distance traveled. If it is in any way possible to use the exact same smart contract for such different purposes, then it should also be possible to code a software that could be used for different cases.

As for your second concern, for each 1 MB transferred to Bob, the software may ask for a payment, whose failure would block his further access.

I will be really please to debate with you once you will have read the whitepaper, with his almost as short to read than the first page of this topic.

[JollyTrades]

@sandiman,

I've arrived at the above conclusion not by only looking at Slock.it. There's another thread for smart contracts in general as well: So what's the deal with smart contracts?

I've read the The DAO whitepaper, though couldn't find much information about the issues I care. I am not very into the technical specifications or how it is supposed to work. What I am after is its potential exclusive real use cases.

As for the upcoming projects on Ethereum et al and the proposals to be made on The DAO, I am as much excited as anyone else. Looking forward to seeing cool projects to make the "third scenario" come true.

Best,

Jian

PS. Let me clarify my point by giving an answer of the kind I'm looking for.

What will be the exclusive real use cases of the Waves platform?

Fee-free, transparent and secure equity crowdfunding projects, international money transfers and payments in fiat currencies, and a secondary security market.

I am looking for such an answer for Slock.it, or for smart contracts in general.

[sandiman]

@sandiman,

I've arrived at the above conclusion not by only looking at Slock.it. There's another thread for smart contracts in general as well: So what's the deal with smart contracts?

I've read the The DAO whitepaper, though couldn't find much information about the issues I care. I am not very into the technical specifications or how it is supposed to work. What I am after is its potential exclusive real use cases.

As for the upcoming projects on Ethereum et al and the proposals to be made on The DAO, I am as much excited as anyone else. Looking forward to see cool projects to make the "third scenario" come true.

Best,

Jian

PS. Let me clarify my point by giving an answer of the kind I'm looking for.

What will be the exclusive real use cases of the Waves platform?

Fee-free equity crowdfunding projects, international money transfers and payments in fiat currencies, and a secondary stock market.

I am looking for such an answer for Slock.it, or for smart contracts in general.

Dao whitepaper is more about how the dao is created and run, but in slock.it whitepaper you will find most of the answers to your questions.

[JollyTrades]

@sandiman,

Yes, I am aware that Slock.it has potential real use cases, but I see no superiority of this system regarding its being decentralized. No offense, but a cash deposit machine seems preferable in most cases.

Best,

Jian

[vlight]

Is there any good video that explains Slock.it ?