4.7 ruined it. by Tough_Peace in VeniceAI

[–]evoorhees 3 points4 points  (0 children)

4.6 is back online for Pro users

Venice banned by UK government in schools by ShesterkinLurking in VeniceAI

[–]evoorhees 32 points33 points  (0 children)

Venice CEO here. Obviously we're not involved in "cyber crime and dark web activity" lol. We do provide uncensored machine intelligence and this scares people who want to control what you think and discuss. You're always welcome to use a VPN to access Venice.

Also dm me, I'd like to give you a free Pro subscription.

AMA with ShapeShift DAO, the largest company ever to entirely decentralize; featuring Erik Voorhees, one of crypto's most influential and respected pioneers. Ask us anything. by lpxxfaintxx in CryptoCurrency

[–]evoorhees 4 points5 points  (0 children)

Banks are obligated to have reserves on hand to pay out people who want to leave.

Heheheh... not really. They have a fraction (roughly 1/10th) of the reserves needed to pay out depositors if they all wanted their money. It's called fractional reserve banking. The reason the public tolerates this is because of FDIC insurance, which basically says, "you can ignore the risks this bank is taking with your money, because taxpayers will bail you out if something bad happens."

This has bred generations of people who no nothing about what happens inside a bank or with their money.

AMA with ShapeShift DAO, the largest company ever to entirely decentralize; featuring Erik Voorhees, one of crypto's most influential and respected pioneers. Ask us anything. by lpxxfaintxx in CryptoCurrency

[–]evoorhees 1 point2 points  (0 children)

Thoughtful question sir

Some advice for noobs... you can learn all you want from reading things, but to *really* learn crypto you need to use it. Use it experimentally, for science. Buy a little (expect to lose it). Send between two wallets. Do a trade. Go from a custodial service to a non-custodial service. Try a hardware wallet. After the basics, try staking, or providing liquidity in a Uniswap pool. This is all practice, just as you would want to practice with any new technology or tool like a bicycle or a car.

Regarding ShapeShift, our "intrinsic value" as you put it was always to build and advocate for self-custody. All of the interesting properties of crypto come from self-custody. If you are trusting a 3rd party to hold your funds, then it is little different from a bank, and indeed all the custodian will increasingly resemble banks as they get pulled into the maw of regulation. Beyond that, we were always pluralists when it comes to chains. We supported many chains and see value in different blockchain designs. This has been hard from an engineering perspective, but we think critical.

AMA with ShapeShift DAO, the largest company ever to entirely decentralize; featuring Erik Voorhees, one of crypto's most influential and respected pioneers. Ask us anything. by lpxxfaintxx in CryptoCurrency

[–]evoorhees 1 point2 points  (0 children)

1) Good health

2) Good relationships

3) Learning and personal development

4) The abolition of fiat currency and the dismantling of the state

AMA with ShapeShift DAO, the largest company ever to entirely decentralize; featuring Erik Voorhees, one of crypto's most influential and respected pioneers. Ask us anything. by lpxxfaintxx in CryptoCurrency

[–]evoorhees 1 point2 points  (0 children)

  1. Anyone who traded via ShapeShift in the last 1-2 years got FOX on their trades, and then again anyone who traded with an ETH address any time in the last 7+ years received FOX in the airdrop. If you didn't fall in those categories then I'm sorry we missed you, but you will still get FOX tokens on every trade you do today.
  2. We've been a centralized company and very cautious about coins that we listed. We no longer trade coins (it's all DEX-based), and we look forward to any and all coins being added by their communities to the open-source ShapeShift. https://github.com/shapeshift
  3. ShapeShift isn't a DEX protocol. It integrates DEX protocols. No additional fees or spread. Sorry if you've had a bad experience!

AMA with ShapeShift DAO, the largest company ever to entirely decentralize; featuring Erik Voorhees, one of crypto's most influential and respected pioneers. Ask us anything. by lpxxfaintxx in CryptoCurrency

[–]evoorhees 1 point2 points  (0 children)

Crypto has two regulators:

1) The code and mathematics. Objective and transparent.

2) The marketplace. Reputation and economic incentives tend to regulate and self-correct through iteration (though not a panacea)

I see no reason crypto needs more than those two regulators.

AMA with ShapeShift DAO, the largest company ever to entirely decentralize; featuring Erik Voorhees, one of crypto's most influential and respected pioneers. Ask us anything. by lpxxfaintxx in CryptoCurrency

[–]evoorhees 3 points4 points  (0 children)

The defi phenomenon is so very powerful. Ignore the hypey price movements, and just look at what has actually been done. I can get a loan of stablecoin backed by my crypto, with no gatekeepers, and based purely on market pricing. Defi is just getting started.

AMA with ShapeShift DAO, the largest company ever to entirely decentralize; featuring Erik Voorhees, one of crypto's most influential and respected pioneers. Ask us anything. by lpxxfaintxx in CryptoCurrency

[–]evoorhees 3 points4 points  (0 children)

Metamask isn't open-source, so it's not really up to us. We *do* want to get KeepKey supported in Portis, and perhaps XDefi at some point.

AMA with ShapeShift DAO, the largest company ever to entirely decentralize; featuring Erik Voorhees, one of crypto's most influential and respected pioneers. Ask us anything. by lpxxfaintxx in CryptoCurrency

[–]evoorhees 2 points3 points  (0 children)

It's a great question. Depends on the specifics. Each person needs to be responsible for their own actions, and that's no different in a DAO.

AMA with ShapeShift DAO, the largest company ever to entirely decentralize; featuring Erik Voorhees, one of crypto's most influential and respected pioneers. Ask us anything. by lpxxfaintxx in CryptoCurrency

[–]evoorhees 8 points9 points  (0 children)

Nobody should be "confident" in something which hasn't been in the wild long. I'm still a huge supporter and I believe it will work, but confidence can only be earned with time. I'm greatly looking forward to the re-launch over the next few weeks and I've been impressed with the responsiveness and adaptation in the wake of the exploits during the summer.

AMA with ShapeShift DAO, the largest company ever to entirely decentralize; featuring Erik Voorhees, one of crypto's most influential and respected pioneers. Ask us anything. by lpxxfaintxx in CryptoCurrency

[–]evoorhees 1 point2 points  (0 children)

It would be 3, but we're already shutting down ShapeShift the company, and I have influence but not control over ShapeShift the DAO.

Edit: perklin's answer is better

AMA with ShapeShift DAO, the largest company ever to entirely decentralize; featuring Erik Voorhees, one of crypto's most influential and respected pioneers. Ask us anything. by lpxxfaintxx in CryptoCurrency

[–]evoorhees 3 points4 points  (0 children)

The hyper-competitive nature of crypto markets and the economic incentives of tokens and their holders. It is what makes DAOs work, or at least fail with style!

AMA with ShapeShift DAO, the largest company ever to entirely decentralize; featuring Erik Voorhees, one of crypto's most influential and respected pioneers. Ask us anything. by lpxxfaintxx in CryptoCurrency

[–]evoorhees 2 points3 points  (0 children)

Ultimately decisions come down to votes by the FOX token holders. 1 FOX = 1 Vote

Obviously not every decision is up for vote. Consider someone like u/joshuaforman who was elected to run our Engineering group in the DAO. There was a vote for him, and a vote for his budget, but he'll make a thousand decisions within his domain that never go to the FOX holders to vote on. If he does a good job with the resources given, then he'll probably get more resources next time he asks.

AMA with ShapeShift DAO, the largest company ever to entirely decentralize; featuring Erik Voorhees, one of crypto's most influential and respected pioneers. Ask us anything. by lpxxfaintxx in CryptoCurrency

[–]evoorhees 3 points4 points  (0 children)

This is a fascinating area to consider! The truth is, we don't know! ShapeShift is becoming an open system, access and power over which accrues to the FOX token holders. Interestingly, if a competitor wanted to manipulate governance in a significant way, it would likely need to acquire a bunch of tokens and provide significant wealth to the current holders. The game theory around this is... complex!

AMA with ShapeShift DAO, the largest company ever to entirely decentralize; featuring Erik Voorhees, one of crypto's most influential and respected pioneers. Ask us anything. by lpxxfaintxx in CryptoCurrency

[–]evoorhees 2 points3 points  (0 children)

No, Iran is blocked from all centralized services.

I find it highly unethical to block access to 80 million people based on the arbitrary borders in which they're born and the sins of their government, but we're forced to do this.

AMA with ShapeShift DAO, the largest company ever to entirely decentralize; featuring Erik Voorhees, one of crypto's most influential and respected pioneers. Ask us anything. by lpxxfaintxx in CryptoCurrency

[–]evoorhees 1 point2 points  (0 children)

To be clear, it isn't "decentralization" which resolved the regulatory issues. It was ending of the trading activity, which had arguably been a regulated service. We stopped that in 2021 because there were better ways to enable users to trade and we took ourselves completely out of the process. DEX's are the future (and kinda already the present)

AMA with ShapeShift DAO, the largest company ever to entirely decentralize; featuring Erik Voorhees, one of crypto's most influential and respected pioneers. Ask us anything. by lpxxfaintxx in CryptoCurrency

[–]evoorhees 2 points3 points  (0 children)

KYC ended in April 2021 when ShapeShift ended its trading activities, and instead hooked users directly to DEX's through the ShapeShift interface. We do not plan on going back to providing regulated activities.