5 ms·

It’s happening right now.

by legutierr 3y ago

mtnGoat 3y ago
Can you elaborate on this?
- TimeBearingDown 3y ago
  From a prior thread that didn’t get any constructive engagement: https://news.ycombinator.com/item?id=39205762 https://news.ycombinator.com/item?id=39205762 Essentially Ethereum can be used to codify financial contracts in order to provide a level of trust where one does not otherwise exist.
  - crummy 3y ago
    > You could wire together a group of houses or neighborhoods with generators and batteries and make the electric company redundant by establishing contracts which buy and sell electricity between participants at rates which adjust in response to demand, forecast, and each battery’s reserves. how would you handle spoofing? e.g. whatever data source you use to figure out how much energy I'm generating, I just put fake data into it? I guess you don't need to worry about that if you trust your neighbours. but then you could just use a traditional database if you all trust each other.
    - CaptainZapp 3y ago
      You can even run a conventional database if you don't trust each other. The only party requiring trust us the one managing the database. Wirks pretty well in the real world.
  - troupo 3y ago
    It doesn't. Let's take that comment. > You could wire together a group of houses or neighborhoods with generators and batteries and make the electric company redundant by establishing contracts which buy and sell electricity between participants at rates which adjust in response to demand, forecast, and each battery’s reserves. Who is this you, why would this group of houses trust you and not their established providers. And how will this group of houses verify that your contract even works (forget about "works correctly", start with just "works"). > Essentially Ethereum can be used to codify financial contracts in order to provide a level of trust where one does not otherwise exist. No it can't. These are not contracts. These are programs written in esotheric programming languages that work only as long as there's a connection to the things they "manage". They are unenforceable, have significant issues with versioning and bugs (once deployed, its deployed forever), have no bearing on the physical world etc.
- legutierr 3y ago
  https://www.ycombinator.com/rfs#stablecoin-finance https://www.ycombinator.com/rfs#stablecoin-finance

It’s happening right now.

mtnGoat 3y ago

Can you elaborate on this?

TimeBearingDown 3y ago
From a prior thread that didn’t get any constructive engagement: https://news.ycombinator.com/item?id=39205762 https://news.ycombinator.com/item?id=39205762 Essentially Ethereum can be used to codify financial contracts in order to provide a level of trust where one does not otherwise exist.
- crummy 3y ago
  > You could wire together a group of houses or neighborhoods with generators and batteries and make the electric company redundant by establishing contracts which buy and sell electricity between participants at rates which adjust in response to demand, forecast, and each battery’s reserves. how would you handle spoofing? e.g. whatever data source you use to figure out how much energy I'm generating, I just put fake data into it? I guess you don't need to worry about that if you trust your neighbours. but then you could just use a traditional database if you all trust each other.
  - CaptainZapp 3y ago
    You can even run a conventional database if you don't trust each other. The only party requiring trust us the one managing the database. Wirks pretty well in the real world.
- troupo 3y ago
  It doesn't. Let's take that comment. > You could wire together a group of houses or neighborhoods with generators and batteries and make the electric company redundant by establishing contracts which buy and sell electricity between participants at rates which adjust in response to demand, forecast, and each battery’s reserves. Who is this you, why would this group of houses trust you and not their established providers. And how will this group of houses verify that your contract even works (forget about "works correctly", start with just "works"). > Essentially Ethereum can be used to codify financial contracts in order to provide a level of trust where one does not otherwise exist. No it can't. These are not contracts. These are programs written in esotheric programming languages that work only as long as there's a connection to the things they "manage". They are unenforceable, have significant issues with versioning and bugs (once deployed, its deployed forever), have no bearing on the physical world etc.
legutierr 3y ago
https://www.ycombinator.com/rfs#stablecoin-finance https://www.ycombinator.com/rfs#stablecoin-finance