Worldcoin launch with ORB to scan your eyes

[cabron]

Introducing Worldcoin

A new, collectively owned global currency that will be distributed fairly to as many people as possible.
The internet is powerful because of large networks. Email, social apps, and marketplaces are examples of such networks. The more participants they have, the more powerful they become. For the first time, cryptocurrencies make it possible to distribute ownership and control of those networks to their users, rather than a single entity.

From https://worldcoin.org/

It was launched yesterday based on the articles I've seen which is also what I have read on crypto news today.

The project founder is known for OpenAI named Sam Altman which this project wants to airdrop Worldcon to everyone for fair wealth distribution. Seem very upright so that no one will be left behind while blockchain is remaking this world. The last company that I have heard who wants to distribute fairly to the entire world was Stellar(XLM) who uses facebook accounts, only to find out everyone has multiple facebook accounts.

But in order for Worldcoin to watch out that you don't cheat and grab another batch of the airdrop, they are going to be using The Orb. This is somewhat like a biometric system that checks a person’s iris to verify an individual. More of it from here.

The image above I'm sure is just a representation of it but I think they are going to be using an app with the phone camera to scan your eyeballs. This is if you are willing to register your eyeballs to this company. Are you?

How to claim https://worldcoin.org/privacy-by-design

[vv181]

Saw the project on Twitter, I wasn't particularly interested in it.

Your thread makes me curious about what it is all about, and currently I looking further to understand it better.

One of my concerns is indeed the privacy of the users. I didn't realize that the field testing of the project has already been gathered and being done in my own country, Indonesia, and in Indonesia, it has the best performing Orb operator here. Despite their own nature of explaining/claiming how they protect and secure the users' data, I think I won't give them the benefit of the doubt and keep being sceptical about it.

[cabron]

Saw the project on Twitter, I wasn't particularly interested in it.

Your thread makes me curious about what it is all about, and currently I looking further to understand it better.

One of my concerns is indeed the privacy of the users. I didn't realize that the field testing of the project has already been gathered and being done in my own country, Indonesia, and in Indonesia, it has the best performing Orb operator here. Despite their own nature of explaining/claiming how they protect and secure the users' data, I think I won't give them the benefit of the doubt and keep being sceptical about it.

Yep i heard its really an Orb. They are collecting more than private data actaully, experts are even saying doctors could identify illnesses by looking into the eyes.

It's not just you who are skeptical about it even the host from coindesk interview Altman has also doubts about this project. I have also heard that this worldcoin project already started more than a year ago in that country. There isn't just assurance about the database of the project which is any of the team has an ulterior motive, although they say that the data are not on a server, it could still be collected with scrapper.

[vv181]

I have also heard that this worldcoin project already started more than a year ago in that country.

I don't know the exact timeline, but looking from their source, they publish the field test data starting from May 2021. I manage to get the local "community" of Worldcoin/orb operators in Indonesia, their Instagram page starting to give awareness on 25 May 2021.

There isn't just assurance about the database of the project which is any of the team has an ulterior motive, although they say that the data are not on a server, it could still be collected with scrapper.

Whether they have other ulterior motives or not. Storing a massive database of biometric data-IrisHash of the masses is bad, the future implication of how the data could/will be managed is terrifying.

[cabron]

Just an update on this project which surprised me to learn the price is $2.28.  Be careful because the circulating supply, for now, is just 108,320,390 WLD. What happens when they release the 10B.

Crazy to see that it's not launched in the US when the creator is from the US while Sam Altman says it will be used for the universal income.
By the way, SBF was also one the early investor of this project to which he seems to have a close relation to the dev team. Because of this, you can already tell what will happen one day.

[GreatArkansas]

Just an update on this project which surprised me to learn the price is $2.28.  Be careful because the circulating supply, for now, is just 108,320,390 WLD. What happens when they release the 10B.

That's why the current price of WORLDCOIN right now is not convincing, it's not the price for this worldcoin without a really real-world use case for now.
I think there will be also some altcoins that will able to do some upward price action, especially altcoins that into the identity field.

For me, I really don't see the decentralized thing on the Orb, it was developed privately and it's still new.

[Johnyz]

Just an update on this project which surprised me to learn the price is $2.28.  Be careful because the circulating supply, for now, is just 108,320,390 WLD. What happens when they release the 10B.

Crazy to see that it's not launched in the US when the creator is from the US while Sam Altman says it will be used for the universal income.
By the way, SBF was also one the early investor of this project to which he seems to have a close relation to the dev team. Because of this, you can already tell what will happen one day.

Collecting your data is something that is not decentralized and can be more risky in the future.
Let's not include SBF here since he is just an investor, let's focus on the project itself and for me, the price is too  high.
If projects will implement this on their platform, then it can create panic as many still prefer to remain anonymous. I'm still not familiar with this project and how it works but hopefully, investors will be more safe from any fraudulent project.

[Tytanowy Janusz]

I would like to leave a decent quote about worldcoin here:

"If the product is free then YOU are the product.
So what does it mean if the product, is not only free, but pays you?
It seems then your cherished biometric data is the product.
This is how the new Worldcoin retinal scanning “orbs” work."
https://twitter.com/GeorgeGammon/status/1683556303044501506

People who wants to profit from scanning their retina are selling their privacy for few bucks. It wont be much. Max 10-50$ per year. Its easy to print tokens to give away to users, but what will give value to the token? investors, that wants to pay random people all around the word for nothing ... and I guarantee you that there are not many such "investors". Current fully dilluted marketcap is 23B$ - top 7 CMC

Vitalik released interresting paper about this - https://twitter.com/VitalikButerin/status/1683404462314999814
He mentions a decentralized alternatives without sharing personal data such as IDENA.

[big kid]

I definitely not willing to share upload my eyes to receive some shitcoin. For me crypto is about anonymity, and that coin requires to lose it.

[zasad@]

tokenomics
https://www.coindesk.com/business/2023/07/24/worldcoin-release-tokenomics-report-geofenced-for-some-countries/
"75% of the tokens have been earmarked for the community, 13.5% to investors of Tools for Humanity, 9.8% to the initial development team and 1.7% in reserve. The allocation to insiders has increased to 25% from 20% stated earlier because the process of developing and launching the network was more "complex and costly" that initially thought, as well as the challenging market environment. Investor and team tokens will be locked up at launch and slowly released after the first year and for the next two years.
All 7.5 billion WLD, which will go to the community was minted before the launch, and the foundation aims to allocate 6 billion of those to users, but they will be unlocked over 15 years, said a Worldcoin representative. However, none of the tokens allocated to users are locked up, said the representative. Not all 2.5 billion WLD for insiders has been allocated."

25 WLD "genesis grant" will be unlocked within 15 years?

[shinratensei_]

Just an update on this project which surprised me to learn the price is $2.28.  Be careful because the circulating supply, for now, is just 108,320,390 WLD. What happens when they release the 10B.

Crazy to see that it's not launched in the US when the creator is from the US while Sam Altman says it will be used for the universal income.
By the way, SBF was also one the early investor of this project to which he seems to have a close relation to the dev team. Because of this, you can already tell what will happen one day.

SEC will hunt him if he will be launching it on US. US is very sensitive toward tokenization. That means if SBF has also owned some tokens from the total allocation. This project is trying to collect irish data as many as possible.
Even this one claimed to be a better thing than bitcoin which is really absurd. My retina is worth more than anything. People get paid only 25 WLD for their retina. The operators of orb got most rewards by collecting retina from so many people as many as they can.

Im also seeing some news said that if so many people being scammed by this one. https://blockworks.co/news/worldcoin-token-soars

It seems like that people didn't care with their privacy. They were selling their data for a few bucks.

[jossiel]

Just an update on this project which surprised me to learn the price is $2.28.  Be careful because the circulating supply, for now, is just 108,320,390 WLD. What happens when they release the 10B.

Crazy to see that it's not launched in the US when the creator is from the US while Sam Altman says it will be used for the universal income.
By the way, SBF was also one the early investor of this project to which he seems to have a close relation to the dev team.

I didn't know that SBF was one of the people that have supported this project too early. I'm now having that feeling that it's not just all about the supply that they'll release soon but it's about a matter of time when these big folks will dump it.

Because of this, you can already tell what will happen one day.

Good luck to the buyers of it because it seems that many of them have been optimistic just after a few days of launching. We'll never know how serious they are on this project but it seems it's been planned all the way since last year.

[rhomelmabini]

I'll never be surprised if it makes a chart like the ICP, this is likely an absurd price right now just because they've been listed on Binance. I think there's someone behind this pump and just hoping they won't dump this on the retail investors which I doubt in the first place because they will. They probably promise that 25 WLD will be at the current Bitcoin price valuation right now or even more to attract this many.

[nelson4lov]

I'll never be surprised if it makes a chart like the ICP, this is likely an absurd price right now just because they've been listed on Binance. I think there's someone behind this pump and just hoping they won't dump this on the retail investors which I doubt in the first place because they will.

They didn't offer any of the WLD tokens to retail investors. It was mostly VCs raise they did - no public funding rounds. So this was just a deliberate attempt to put more money in the hands of their VC investors. It's worth noting that no futures or derivative trading was available during the price discovery period. Goes to show that they simply wanted to give it a high initial price.

They probably promise that 25 WLD will be at the current Bitcoin price valuation right now or even more to attract this many.

This, and couple with the fact that they went to developing countries to gather users and get their data. They know that they can't do such in a well developed country where everyone is probably educated.

[wxa7115]

I would like to leave a decent quote about worldcoin here:

"If the product is free then YOU are the product.
So what does it mean if the product, is not only free, but pays you?
It seems then your cherished biometric data is the product.
This is how the new Worldcoin retinal scanning “orbs” work."
https://twitter.com/GeorgeGammon/status/1683556303044501506

People who wants to profit from scanning their retina are selling their privacy for few bucks. It wont be much. Max 10-50$ per year. Its easy to print tokens to give away to users, but what will give value to the token? investors, that wants to pay random people all around the word for nothing ... and I guarantee you that there are not many such "investors". Current fully dilluted marketcap is 23B$ - top 7 CMC

Vitalik released interresting paper about this - https://twitter.com/VitalikButerin/status/1683404462314999814
He mentions a decentralized alternatives without sharing personal data such as IDENA.

This reminds me of those companies that do ancestry DNA tests and the like, not only they found a way for millions of people to sent them their DNA, but they also charged them for it, I am pretty sure their database with the DNA information of millions of people is worth a fortune and probably it has been sold already to many other companies.

This is the same, with the excuse of not giving those coins to the same person twice, the devs of this coin plan to obtain the retina information of billions of people, if successful the profits they will get out of it are massive.

[adaseb]

World coin is not like the Stellar Lumens airdrop. That one might of had an airdrop based on Facebook accounts however the main airdrop was based on Bitcoin addresses.

This was years ago, maybe 2016 or so. If you had a balance you got to claim an airdrop. So it wasn’t really fairly distributed. Because if you used alts or kept on an exchange you might of not gotten the airdrop.

[mich]

I did read that and this does not sound very good to me. Not even a little bit. I do not want to have anyone to have scans of my eyes. I want Bitcoin and other crypto currencies for my own anonymous reasons. 
This is like someone wanting to scan your fingerprints. It is interesting to know how it was started 3 years ago but we just only hear about it now.

[TheUltraElite]

The talk about privacy here is heated and although most of the members of this forum will say that they will not go for it, in reality most of the people in developing countries will do anything for some money and that is enough for them give their details to anybody. Poverty is what they are targeting just like most political people have done in the past - appease them for your own gains.

It would be worth watching how this unfolds because kiosks have set up in my country too and they are spreading like a virus.

Your data on darknet marketplaces may not mean much if your net worth is not high but one should not play with these things for money.

[Tytanowy Janusz]

This reminds me of those companies that do ancestry DNA tests and the like, not only they found a way for millions of people to sent them their DNA, but they also charged them for it, I am pretty sure their database with the DNA information of millions of people is worth a fortune and probably it has been sold already to many other companies.

when I read it, I realized that sooner or later we will lose anyway and all our privacy will be exposed... Maybe it's actually best to start selling it now and at least make some $ out of it? My DNA is everywhere, even when I give a blood sample for tests to check what's wrong with me when my tummy hurts.

This is the same, with the excuse of not giving those coins to the same person twice, the devs of this coin plan to obtain the retina information of billions of people, if successful the profits they will get out of it are massive.

Only that not a cent of this money will go to investors in WLD. They are just charitable sponsors of data theft

[zasad@]

https://twitter.com/sama/status/1684297687708098565
"day 3 of @worldcoin launch, crazy lines around the world. one person getting verified every 8 seconds now."

For 25 dollars, people are ready to put themselves in a digital prison, then this is one of the test projects that, according to Vitalik Buterin, will be launched in the next 5-10 years.