Comment on Plebbit Will Never Deliver, Apologies for the Hype, Lemmy's Where I’m Staying

catloaf@lemm.ee ⁨3⁩ ⁨weeks⁩ ago

• givesomefucks@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

  People constantly told OP that, but they just won’t stop making posts about it

  source
• Luffy879@lemmy.ml ⁨3⁩ ⁨weeks⁩ ago

  Not that the blockchain itself is a Bad idea, but after like a year or 2 of becoming popular it will be impossible for anyone to have a locally stored coin because they will be just multiple petabytes big

  source

  • rinse@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

    Plebbit is not a blockchain, it’s P2P and all content on the network is content addressable. There’s nothing to “sync”

    source
  • sugar_in_your_tea@sh.itjust.works ⁨3⁩ ⁨weeks⁩ ago

    My understanding is the blockchain bit is optional and only used to establish ownership over a name. The posts and whatnot are not on a blockchain, that would be silly.

    source
• rinse@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

  The reason why we picked Blockchain name systems is because they’re the only way of having a full control over a name. There are lot of examples online with people getting their DNS revoked. What do you think the problem is with blockchain components?

  Also, blockchain are only used for resolving names, which is a small part of Plebbit, the rest of stack is P2P.

  source

  • sugar_in_your_tea@sh.itjust.works ⁨3⁩ ⁨weeks⁩ ago

    Yeah, that’s a super uninformed take. Blockchain is perhaps the best solution for authentication in a P2P system. I assume they’re linking blockchain to cryptocurrency, but AFAIK, there’s no cryptocurrency in Plebbit.

    For authentication, you need a central authority of some form, and blockchain is about as decentralized as you can get while having that central source of truth. It’s a good solution.

    source
• Voroxpete@sh.itjust.works ⁨3⁩ ⁨weeks⁩ ago

  I’m a little confused on this point. I took a look at their whitepaper and it says that they’re not using blockchain at all. It’s some sort of proprietary peer to peer algorithm. Is this something that changed in implementation? I’m not really familiar with this project so I’m certainly not trying to defend anything, just unclear as to why people are calling it a blockchain project specifically.

  source

  • xavier666@lemm.ee ⁨3⁩ ⁨weeks⁩ ago

    It’s some sort of proprietary peer to peer algorithm

    I completely lost interest for the project at this point of the text

    source

    • rinse@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

      Not true, it’s free software released under GPL V2, check out plebbit-js

      source
    • owen@lemmy.ca ⁨3⁩ ⁨weeks⁩ ago

      Lmfao I actually made a huge frown upon reading that

      source

      • sugar_in_your_tea@sh.itjust.works ⁨3⁩ ⁨weeks⁩ ago

        That’s a reasonable reaction if it was true. But it’s not, plebbit is FOSS.

        source

        • -> View More Comments
  • rinse@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

    I took a look at their whitepaper and it says that they’re not using blockchain at all

    If community owners want to set a blockchain name like hello.eth or hello.sns it’s possible, but it’s optional.

    It’s some sort of proprietary peer to peer algorithm. Is this something that changed in implementation?

    Not true, it’s free software released under GPL V2, check out plebbit-js

    but it’s run by a DAO that operates using a governance token, which is not exactly great.

    What is the problem with DAOs? I think they’re a great way of facilitating coordination between anons on the internet

    source

    • Voroxpete@sh.itjust.works ⁨3⁩ ⁨weeks⁩ ago

      So, from what I’ve read, and you’re welcome to correct me if I’m wrong on any of the facts here, your DAO operates using a governance token that can be traded on crypto markets.

      If that’s the case, those are just grey-market voting shares. All you’ve done is create a corporation and sell shares, while avoiding all of the legal protections that would be afforded to your shareholders if you actually went through the process of creating a corporation and holding an IPO.

      So, based on those facts as I understand them, I guess I’d say I have two problems.

      1. Voting power decided by buying power is about the most undemocratic system possible short of autocracy.

      2. Obfuscating the purpose and structure of your organization to either intentionally or unwittingly dodge regulations that would protect your shareholders is not a great look.

      source

      • rinse@lemmy.world ⁨3⁩ ⁨weeks⁩ ago

        Voting power decided by buying power is about the most undemocratic system possible short of autocracy

        The token is not forced upon anyone, and even if we start including it in the clients somehow, anybody can fork the clients and remove any token related stuff out of it.

        Tokenizing your own project is a great way of supporting development without selling shares to VCs who only care about hyper growth, regardless of the ideals of the project.

        Obfuscating the purpose and structure of your organization to either intentionally or unwittingly dodge regulations that would protect your shareholders is not a great look.

        Not sure what you mean by that, everything we do is out in the open.

        source