🧠 [Long Research]: EyeScanner 👁
Sooo, ethCC was fun! Was great to see so many of you, incels, surviving. Will do another post with some thoughts on it, but let’s dive into the hotter topic of this week: worldcoin. There is so much weirdness around it, that it’s a big discussion topic.
Vitalik posted his piece in the same hour as the shitcoin trading began, which is unusual of him, but he likely wanted to get more attention when the hype was at peak. He, as a visionary reptile thinker, likes all new things. Naturally, he wanted to research it and give an opinion:
🔴 Privacy concerns: Worldcoin's reliance on iris scanning raises significant privacy issues, as Buterin pointed out. The database linked to the iris scans could potentially reveal sensitive information, posing a risk to individuals' privacy and security.
🔴 Accessibility issues: Vitalik also raised concerns about accessibility, noting that participants need physical access to a Worldcoin Orb, limiting the project's reach. Without widespread availability of these Orbs, there's a risk of favoring urban centers and creating distribution imbalances.
🔴 Centralization risks: Another point raised by Buterin was the potential for centralization. The inability to verify the integrity of Worldcoin's Orb hardware construction leaves room for backdoors, which could compromise the system's decentralization efforts.
🔴 Security challenges: Buterin identified security risks, including phone hacking, coerced iris scanning, and fraudulent use of identities, all of which could jeopardize the Worldcoin system's integrity. Is a good read: https://vitalik.eth.limo/general/2023/07/24/biometric.html.
👀 But from here, it gets worse…
There is the “tech" and there is the optics & token distribution & marketing. While the tech could be interesting to some extent, the rest is done in a scammy way, resembling MLM pyramids and evil shit. And that can be seen by the observers at orbs and the token metrics they made.
Here are a few clear ways where even tech supporters can't stop themselves from howling:
🤮 Liquid supply is approx 1% whereas investors and team are at about 25%. From the liquid supply today, 3x of the community airdrop size is in the hands of market makers. It's a silly offer worldcoin got into for the sake of some washtrading. Check two good threads here, objective view on the market maker ponzi taking place: https://twitter.com/AriDavidPaul/status/1683627646633013249. Yet you probably can't short though, because MMs hold the supply and can do whatever. Long-term GCR style, this is a disaster of course.
👁🗨 Eye scanning is promoted by vendors engaged in MLM. Even the early affiliated videos promoted “we scan eyes of poor people to give them airdrop" type of vibes. See their founding member older post praising poorer nations scanning their eyes. Upon completing the process, a staff member assured me my tokens would unlock soon and hurried off to help a Mandarin-speaking older couple that had stumbled in. - check the DL News article on how some of the experiences are as well. And just look at the video Altman posted himself, dystopian af: https://twitter.com/ivangbi_/status/1684306782078869505/photo/1.
Anyway, some say that this can really push crypto further to adoption, but at what cost? If you want to have adoption no matter the cost, might start throwing money at RWA, scan your eyes, suck off SBF, and do ponzis… Subjective. Pathetic. But decide for yourself!
As a fun note though, some sers made a buttcoin whitepaper version of this: https://twitter.com/OfficialESC/status/1683019497291038722. Who knows, we might see more of this physical-interaction-crap pop up. We love KYC & AML, and it's totally helpful thing, right?!
If you want to continue discussing this stuff, check conversations in lobsterdao first, to not post the same things again. And if you are choosing a movie - check "Minority Report" or “Black Mirror” 🖖 FIN.
Sooo, ethCC was fun! Was great to see so many of you, incels, surviving. Will do another post with some thoughts on it, but let’s dive into the hotter topic of this week: worldcoin. There is so much weirdness around it, that it’s a big discussion topic.
Vitalik posted his piece in the same hour as the shitcoin trading began, which is unusual of him, but he likely wanted to get more attention when the hype was at peak. He, as a visionary reptile thinker, likes all new things. Naturally, he wanted to research it and give an opinion:
🔴 Privacy concerns: Worldcoin's reliance on iris scanning raises significant privacy issues, as Buterin pointed out. The database linked to the iris scans could potentially reveal sensitive information, posing a risk to individuals' privacy and security.
🔴 Accessibility issues: Vitalik also raised concerns about accessibility, noting that participants need physical access to a Worldcoin Orb, limiting the project's reach. Without widespread availability of these Orbs, there's a risk of favoring urban centers and creating distribution imbalances.
🔴 Centralization risks: Another point raised by Buterin was the potential for centralization. The inability to verify the integrity of Worldcoin's Orb hardware construction leaves room for backdoors, which could compromise the system's decentralization efforts.
🔴 Security challenges: Buterin identified security risks, including phone hacking, coerced iris scanning, and fraudulent use of identities, all of which could jeopardize the Worldcoin system's integrity. Is a good read: https://vitalik.eth.limo/general/2023/07/24/biometric.html.
👀 But from here, it gets worse…
There is the “tech" and there is the optics & token distribution & marketing. While the tech could be interesting to some extent, the rest is done in a scammy way, resembling MLM pyramids and evil shit. And that can be seen by the observers at orbs and the token metrics they made.
Here are a few clear ways where even tech supporters can't stop themselves from howling:
🤮 Liquid supply is approx 1% whereas investors and team are at about 25%. From the liquid supply today, 3x of the community airdrop size is in the hands of market makers. It's a silly offer worldcoin got into for the sake of some washtrading. Check two good threads here, objective view on the market maker ponzi taking place: https://twitter.com/AriDavidPaul/status/1683627646633013249. Yet you probably can't short though, because MMs hold the supply and can do whatever. Long-term GCR style, this is a disaster of course.
👁🗨 Eye scanning is promoted by vendors engaged in MLM. Even the early affiliated videos promoted “we scan eyes of poor people to give them airdrop" type of vibes. See their founding member older post praising poorer nations scanning their eyes. Upon completing the process, a staff member assured me my tokens would unlock soon and hurried off to help a Mandarin-speaking older couple that had stumbled in. - check the DL News article on how some of the experiences are as well. And just look at the video Altman posted himself, dystopian af: https://twitter.com/ivangbi_/status/1684306782078869505/photo/1.
Anyway, some say that this can really push crypto further to adoption, but at what cost? If you want to have adoption no matter the cost, might start throwing money at RWA, scan your eyes, suck off SBF, and do ponzis… Subjective. Pathetic. But decide for yourself!
As a fun note though, some sers made a buttcoin whitepaper version of this: https://twitter.com/OfficialESC/status/1683019497291038722. Who knows, we might see more of this physical-interaction-crap pop up. We love KYC & AML, and it's totally helpful thing, right?!
If you want to continue discussing this stuff, check conversations in lobsterdao first, to not post the same things again. And if you are choosing a movie - check "Minority Report" or “Black Mirror” 🖖 FIN.