![]() Update ( ): Brave has switched from Bitcoin to its Basic Attention Token ( BAT) system. It requires a lot of micro-management to keep the ledger reflect the websites I want to contribute to, and I can only imagine that this will get more time-consuming as the list grows over time. I’ve removed the websites of for-pay software but left open-source software vendors on the list, as I don’t mind them receiving part of my monthly contribution. The other websites I’ve blocked from my ledger involve spam domains, commercial websites for shops and services, and websites that monetize directly in other means than advertising. Two other unwanted entries include reCAPTCHA and Skype, which had managed to grab 6 % each. At the time of writing, I’ve some 400 domains on my ledger and I’ve chosen to disable contributions for 300 of them!įor example, the default search engine in Brave is DuckDuckGo and it would have received 21 % of my contribution for the first month if I hadn’t removed it from the list. Each website gets a share of the user’s contribution based on how many times the user has visited their website and how much time they’ve spent on each site.īrave’s ledger keeps track of which websites customers spend their time on, and customers don’t have any control over the ledger beyond banning websites they don’t like. ![]() Brave Software takes a 5 % cut and splits the rest up among the websites visited by the customer over the previous month. ![]() Brave Software is signing on users to make volunteer contributions without prior approval by web publishers who can opt-in to receiving funds from Brave - or not.īrave Payments, the payment scheme built-in to the Brave browser, works by collecting volunteer contributions from Brave’s users and splitting up the funds between all the websites you visit once a month. If people manage to create a technologically excellent 'alt-coin' then they can be rewarded by being a early-in.The new Brave web browser is trying to revolutionize how websites are monetized by combining advertisement blocking/replacement technology and user-contributed subsidies to websites. It encourages technological development in cryptocurrencies and discourages people from hording 'alt-coins' as long term investment. The creation of alternative 'coins' is then a good thing because it's a way to inflate the supply beyond the built-in limitations of bitcoin, but is still going to be something that is predictable. People are then incentivized to hold onto the money, which then (when the money gains acceptance) tends to get used in the form of loans and whatnot. When the supply of money doesn't rise to meet the demand then the value of the money tends to rise. You are just describing that is commonly called deflation. That's not really anything that is unique to bitcoin. > I'm saying it's a pyramid scheme because the exponentially declining mining rate is an obvious way to ensure that whatever value Bitcoin gets is predominantly funnelled to early users who mined or hung onto coins before it got popular. > So presumably you're no longer considering Bitcoin cryptocurrency, So perhaps we should say that it is a pyramid scheme that funnels value to early users and miners, and thieves who prey on those people.) (Of course, this only works if the early bitcoins doesn't get stolen by someone else, which given the state of IT security means they more or less have to be kept offline and disconnected from any powered-on device. I'm saying it's a pyramid scheme because the exponentially declining mining rate is an obvious way to ensure that whatever value Bitcoin gets is predominantly funnelled to early users who mined or hung onto coins before it got popular. ![]() I'm not saying it's a pyramid scheme because it's risky. It's not a real pyramid scam, but the risk is part of how speculation works. So presumably you're no longer considering Bitcoin cryptocurrency, since transaction delays are now so huge that schemes have sprung up where you pay people to get agglomerated into their transaction, driving transaction costs up to frankly ridiculous levels.Īs far as pyramid schemes go and risk. In reply to: The Brave web browser by dragĬryptocurrency makes sense. ![]() Posted 12:08 UTC (Sat) by nix (subscriber, #2304) ![]()
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