• 0 Posts
  • 233 Comments
Joined 1 year ago
cake
Cake day: June 30th, 2023

help-circle








  • Personally I am hopeful about it. For a long time technology has been a factor in a bigger slow motion collapse of the economy being viable to sustain the lives of regular people, and the recent breakthroughs in machine learning do contribute to that collapse. But it’s not totally monopolized, local models are becoming viable and a lot of the work is open sourced, so the power of this stuff goes to anyone who wants it and has an idea of what they would want to do with it. Massive change is inevitable, the question is just what direction it goes in.





  • The person who predicted 70% chance of AI doom is Daniel Kokotajlo, who quit OpenAI because of it not taking this seriously enough. The quote you have there is a statement by OpenAI, not by Kokotajlo, this is all explicit in the article. The idea that this guy is motivated by trying to do marketing for OpenAI is just wrong, the article links to some of his extensive commentary where he is advocating for more government oversight specifically of OpenAI and other big companies instead of the favorable regulations that company is pushing for. The idea that his belief in existential risk is disingenuous also doesn’t make sense, it’s clear that he and other people concerned about this take it very seriously.


  • you can’t withdraw it from their ecosystem

    They changed that a while ago

    So, you’re saying that if I use Coinbase, I could withdraw the keys and have full custody over it after I buy it? Then where’s the custodial catch that I always hear about with Coinbase?

    Yes. Idk what specific criticisms you’re referring to but probably just related to how it is a centralized exchange, which does have some genuine drawbacks like reduced privacy, for instance they don’t sell Monero or other privacy coins. The reason I also mentioned Kraken is that it is the only fiat gateway exchange that does sell Monero, with other ones if you want to be private you would have to first buy some non-private crypto, then send to a crypto to crypto exchange to buy a privacy coin and go from there. Also there are a lot of people that just buy crypto on Coinbase and never withdraw it, so for them it’s custodial all the way.


  • If you are comfortable with PayPal you can buy crypto from them afaik, though I am fairly sure you will have to provide additional KYC info than name and credit card, most of the cryptocurrency community obviously hates KYC and there would absolutely be centralized non-KYC options for buying crypto if it wasn’t blatantly illegal to offer that.

    isn’t Coinbase custodial? I will not use custodial exchanges

    That’s totally fair but consider that if your intention is to purchase crypto and immediately withdraw it to a personal wallet, there are zero practical drawbacks to an exchange being custodial because they are only holding your crypto in custody for the brief period of time between when you click the buy button and when you click the withdraw button. A DEX with escrow is going to be less custodial than that, but I would call it still a little bit custodial, since even if the escrow person doesn’t have the option to take your crypto for themselves they could still potentially collude with the seller and send it back to them, which means there is a brief window when the crypto you have purchased is not truly under your personal control. You can have a crypto to crypto dex be perfectly non-custodial (ie. Uniswap), but you can’t have a fiat to crypto exchange be perfectly non-custodial.


  • The reason they need it is because of the law making it illegal for them not to collect it, though that doesn’t make it any less of a barrier that they have no choice. I would say at this point Coinbase and Kraken are at least as reputable as something like PayPal/Venmo (which I think you can actually also buy crypto from); iirc Coinbase is a publicly traded corporation, has various licenses with governments to operate, is handling custody for major financial institutions now that some crypto ETFs have been approved, it’s not like the early days of crypto where even the biggest exchanges had little real claim to legitimacy.

    As for difficulty of using DEX for non KYC trades, I have heard a lot of anecdotes about that confirming your experience that it does not work well. However I would keep an eye on it, there’s significant recent changes with the shutdown of LocalMonero, the launch of Haveno, progress in the development of atomic swaps. I expect that it’s going to improve significantly in usability for the average person, so long as there aren’t major efforts by governments to criminalize it.