Playtron's SuiPlay0X1 is a "web3 gaming" fever dream I thought we'd all woken up from.
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That's because it is shit.And yet, somehow, BTC is currently at $70,500. I've got nothing particular against BTC - I strongly consider it the best of the cryptocurrencies - but I can't manage to tell myself a sensible story that supports that valuation.
Does the thing have a scent cartridge in it that reeks of Ax body spray and when you start it up it makes a ca-ching sound? Seriously the desperation of these crypto bros trying to make something out of a pile ofuse to be entertaining. Now its just down right annoying.
PS- I'm kinda surprised that no one has made a Mario spoof called Crypto Bros.
I'm surprised the cat didn't bury it.That's because it is shit.
I have an array of post-melt shit in my yard. Some is husky-rot mix, some pure breed Bouvier, some semi-feral local cat that has taken residence over-winter on the property (I built it a heated shelter and fed it as I am somewhat sympathetic). The Bouvier turds are large, well formed, and sturdy enough to be scooped easily. The husky mix feces smaller, harder to locate. The cat feces has mushed into paste and the harder to dispose of.
I strongly consider the Bouvier feces to be the best of my array of feces. And it's scoopability DOES provide me a sensible story to support that valuation.
BTC isn't even scoopable.
It tries. Alas lawn is not litter in the cat-shit scheme of things.I'm surprised the cat didn't bury it.
Also worth noting completing a single transaction on bitcoin, last I checked, was like something north of a whole month's use of my household single-family home's electricity. For a single micro-transaction?! That's far beyond unworkable well into "bloody immoral".we'll just note that Valve stopped accepting bitcoin for payments in 2017 because price volatility and transaction fees made it unworkable.
Please don't give cryptomorons credit for inventing the official term for paper money, which probably have existed about as long as we've had paper money.
Crypto currency is not a fiat currency either. Unless there is a government backed crypto currency out there. Or put in plainer terms: you can't rug pull a fiat currency. (Runaway inflation can cause havoc though. But that is a whole different story)
You're unlikely to need 700kwh in a month but using this metric is intellectually dishonest anyway, since the chain is a full end to end settlement layer and can batch transactions e.g. from L2. Comparing the cost per transaction with the cost of infrastructure needed for the banking real-time gross settlement system and of the credit-based retail systems like VISA and PayPal that are layered on top paints a more accurate picture.Also worth noting completing a single transaction on bitcoin, last I checked, was like something north of a whole month's use of my household single-family home's electricity. For a single micro-transaction?! That's far beyond unworkable well into "bloody immoral".
Bitcoin does not come off well when compared to other transaction methods.You're unlikely to need 700kwh in a month but using this metric is intellectually dishonest anyway, since the chain is a full end to end settlement layer and can batch transactions e.g. from L2. Comparing the cost per transaction with the cost of infrastructure needed for the banking real-time gross settlement system and of the credit-based retail systems like VISA and PayPal that are layered on top paints a more accurate picture.
The pure energy cost of "running code" for a transaction (whether it's BTC settlement or a credit-bases settlement) is not a reasonable way of comparing payment methods.Just the gross settlement system costs about 0.1 kWh per transaction; this ignores the cost of card terminals, the cards themselves, etc, but covers the energy cost from merchant through to card issuer of doing a single transaction through the payment network without any form of batching. You can reduce this cost by batching at various places, with the corresponding increase in risk (that the transaction would have succeeded if done immediately, but fails due to the delay inherent in merging it into a batch).
Given the orders of magnitude difference, what you're actually saying is that you believe that 700 kWh of electricity per transaction is a worthwhile expense in order to change the trust problem from "can I trust these named, identified entities (that my local legal system can enforce judgement against) will not defraud me?" into "can I trust that the least trustworthy subset of miners who between them make up 51% of network hashing power will not collaborate to defraud me?"Credit-based transactions layers such as VISA, the banking RTGS etc. require physical infrastructure (whether it's a mainframe, cloud data center or downtown high-rise), staff and institutions to manage, offer trust and guarantee an irreversible settlement. This complexity is managed through code and design (e.g. PoW) in bitcoin's case and factored into discussions regarding the cost of a BTC transaction, the cost of mining etc. It is rarely mentioned (if ever) when analysing the energy footprint of the end-to-end mainstream banking ecosystem, or however you want to call it. I did not even get into end-consumer hardware such as card terminals and whatnot.
Given the orders of magnitude difference, what you're actually saying is that you believe that 700 kWh of electricity per transaction is a worthwhile expense in order to change the trust problem from "can I trust these named, identified entities (that my local legal system can enforce judgement against) will not defraud me?" into "can I trust that the least trustworthy subset of miners who between them make up 51% of network hashing power will not collaborate to defraud me?"
Note, too, that BTC transactions also require physical infrastructure - miners don't just pop in and out of existence on the network as needed, they are physical objects that draw power, need network links etc, just like traditional payment systems. And they need staff and institutions to manage them, since they're physical objects; all that you've changed is that instead of trusting a named entity, you now have to trust the least trustworthy 51% of hashing power in the network.
And card terminals and whatnot don't add a significant amount of power to a transaction cost - the worst case I can find adds another 0.2 kWh to the cost of a single real-time payments card transaction. That brings the power consumption to 0.3 kWh for cards, with settlement in under 60 seconds (at a high transaction fee level) to Bitcoin's 700 kWh and settlement in 10 to 60 minutes.
In energy terms, the aggregate cost and overhead of running the banking system's RTGS is included in that 0.3 kWh that the VISA system uses. While the 1.5 Wh for a single transaction in isolation (which is the energy cost of a transaction over and above the cost of having the network there) might be unfair to Bitcoin, the 0.3 kWh figure I'm using is apples-to-apples - it's the total energy cost of the VISA network, including the backend servers etc, amortized per transaction, against the 700 kWh Bitcoin uses for the same problem.The cost of running the bitcoin network is well documented and placed under scrutiny. The number of nodes is well known and publicly available, too. I don't see the aggregate cost and overhead of running the banking system's RTGS being discussed at all. Yet people still compare a full end to end transaction and settlement system's power consumption with the ˜1.5Wh required for a credit-based transactional system like VISA and assume everything else to make it work just exists for free.
It would help if any discussion about open standards for virtual items went beyond the myopic position of "its good if we also add artificial scarcity so that line goes up" because you don't actually care about games - you just want to turn gaming assets into a commodity to profit off of.This is a bit of an arbitrary line that doesn't make a whole lot of sense to me. Governments have historically not shied away from devaluing their own currencies, either by abandoning USD pegs, printing money to pay debt (Weimar is a famous example) etc. Even developed economies like the US and the UK have done it.
Anyway, this device is a dumb concept that no one needs. But the author arguing "true" ownership outside DRM-laced & escrow (in the case of virtual items) platforms such as Steam being a crypto maximalist notion is pretty nuts frankly. I don't see why there can't be a discussion about open standards for virtual items and DRM-free platforms just because Steam exists.
The VISA figures I am aware of are based on their yearly sustainability reports that have them sitting at around 750.000 Gigajoules of operation divided by the number of transactions (in the 140 billion range). This is for their operations on the transactional level, I have seen no mention of the RTGS settlement layer being included. The other set of figures are based on energy consumption of their mirrored data centres but it's already over 5 years old and also irrelevant since it's transaction only, still. Can you share the source for the 0.3kWh for both transaction and settlement on RTGS?In energy terms, the aggregate cost and overhead of running the banking system's RTGS is included in that 0.3 kWh that the VISA system uses. While the 1.5 Wh for a single transaction in isolation (which is the energy cost of a transaction over and above the cost of having the network there) might be unfair to Bitcoin, the 0.3 kWh figure I'm using is apples-to-apples - it's the total energy cost of the VISA network, including the backend servers etc, amortized per transaction, against the 700 kWh Bitcoin uses for the same problem.
There is also the fact that there is literally zero upside to any legitimate developer to move to this hypothetical open standard.
I was working off the figures VISA and Mastercard both give for their real-time payments systems, which fully replace RTGS if you're willing to settle transactions entirely inside the Mastercard (or VISA) networks; the only time RTGS is relevant is if you wish to transfer money out of the VISA or Mastercard network of banks to a bank that isn't part of the network you did your payment journey on. I'm then adding in a standard amount for the embedded energy cost of building the physical infrastructure from scratch, assuming that we had to rebuild from nothing.The VISA figures I am aware of are based on their yearly sustainability reports that have them sitting at around 750.000 Gigajoules of operation divided by the number of transactions (in the 140 billion range). This is for their operations on the transactional level, I have seen no mention of the RTGS settlement layer being included. The other set of figures are based on energy consumption of their mirrored data centres but it's already over 5 years old and also irrelevant since it's transaction only, still. Can you share the source for the 0.3kWh for both transaction and settlement on RTGS?
OK, but that's moving the goal post though. Visa operates its own network for processing transactions, the actual movement of funds for settlement purposes, requires a RTGS system e.g. Fedwire where the funds are actually transferred from the acquiring bank to the issuing bank. If you want to ignore settlement, then you'd have to compare Visa to a L2 solution such as Lightning for an apples to apples.I was working off the figures VISA and Mastercard both give for their real-time payments systems, which fully replace RTGS if you're willing to settle transactions entirely inside the Mastercard (or VISA) networks; the only time RTGS is relevant is if you wish to transfer money out of the VISA or Mastercard network of banks to a bank that isn't part of the network you did your payment journey on. I'm then adding in a standard amount for the embedded energy cost of building the physical infrastructure from scratch, assuming that we had to rebuild from nothing.
Where do you see the author making any kind of argument about any solution other than the one offered by the product in question? This isn't an editorial - it's a news item covering a product announcement. Kyle isn't "kneecapping the discussion" because there's no reason to scope the article beyond what is being offered. Also, you seem to have no trouble bringing up this discussion - although I'll note you seem to have complaints but offer no alternatives.For the author to argue that such a solution makes no sense and is only desired by crypto purists because Steam & co exist is just kneecapping the discussion and helping cement monopolies in the market. Not that this handheld is in any way a step in the right direction, mind you.
Username checks out.OK, but that's moving the goal post though. Visa operates its own network for processing transactions, the actual movement of funds for settlement purposes, requires a RTGS system e.g. Fedwire where the funds are actually transferred from the acquiring bank to the issuing bank. If you want to ignore settlement, then you'd have to compare Visa to a L2 solution such as Lightning for an apples to apples.
You are always going to have to rely on a third party to validate your ownership of digital assets. It will never matter how proud you are of your $Big_Shiny_Gun NFT if the game maker doesn't accept that NFT as a valid representation of something. Your "asset" will always only be valid as long as the publisher of the game says it is. There is nothing at all blockchain can do to change that.I agree that incentives are not there but also argue that it would be in the consumer's interest to not have to rely on a third party for escrow / ownership of digital assets. For the author to argue that such a solution makes no sense and is only desired by crypto purists because Steam & co exist is just kneecapping the discussion and helping cement monopolies in the market. Not that this handheld is in any way a step in the right direction, mind you.
First give us a reason why a developer of game A would want people to be able to import items from game B that is produced by a different developer. Last I checked, even the direct importation of items from one game to another when both were made by the same developer is rare. The reason behind that is simple, implementing all those items would take significant time and money from the developer of the game that's importing them. While all the profit from selling them goes to the game that they are sold into.I don't see why there can't be a discussion about open standards for virtual items and DRM-free platforms just because Steam exists.
Does it, though?Username checks out.
That depends on how finely tuned your sarcasm meter is.Does it, though?
As is brought up every time this "goal" is brought up - including in comments to this very article - why on earth do you think this will ever happen? What gaming company is going to take the time and effort to develop assets for the player to import items from another company's game into their own?You guys are so tiresome and pathetic with your word vomit anti-crypto articles. if I get a cool skin in one game I want to be able to use it in other games. This is long term goal of web3 gaming, not sure why you don't want us to have that ability.
The blockchain offers nothing that helps there. Tracking which items you have across multiple games is better done with databases and APIs.You guys are so tiresome and pathetic with your word vomit anti-crypto articles. if I get a cool skin in one game I want to be able to use it in other games. This is long term goal of web3 gaming, not sure why you don't want us to have that ability.
And then we can talk about why the blockchain would be more or less advantageous than, say, Steam Inventory, which is a solution that already exists.First give us a reason why a developer of game A would want people to be able to import items from game B that is produced by a different developer. Last I checked, even the direct importation of items from one game to another when both were made by the same developer is rare. The reason behind that is simple, implementing all those items would take significant time and money from the developer of the game that's importing them. While all the profit from selling them goes to the game that they are sold into.
Then you get into practical difficulties because the game mechanics are very different. For example, how would you bring a pistol from one game into a game that doesn't have pistols ?
Solve these core problems and then you can start talking about the implementation of that open standard.
VISA real-time payments includes movement of funds within the VISA network for settlement purposes. The only time you need to use something like Fedwire (or other RTGS system) to settle funds outside the VISA network is when you'd prefer not to pay VISA's fees for movement of funds for net settlement, but would prefer to pay another organisation's fees (e.g. because they're cheaper - I know, for example, that UK banks prefer to use Pay.UK services for settlement because the cost is lower).OK, but that's moving the goal post though. Visa operates its own network for processing transactions, the actual movement of funds for settlement purposes, requires a RTGS system e.g. Fedwire where the funds are actually transferred from the acquiring bank to the issuing bank. If you want to ignore settlement, then you'd have to compare Visa to a L2 solution such as Lightning for an apples to apples.
Explaining why a thing doesn't actually make any sense is not the same thing as not wanting you to have the ability to do the thing.You guys are so tiresome and pathetic with your word vomit anti-crypto articles. if I get a cool skin in one game I want to be able to use it in other games. This is long term goal of web3 gaming, not sure why you don't want us to have that ability.
First give us a reason why a developer of game A would want people to be able to import items from game B that is produced by a different developer. Last I checked, even the direct importation of items from one game to another when both were made by the same developer is rare. The reason behind that is simple, implementing all those items would take significant time and money from the developer of the game that's importing them. While all the profit from selling them goes to the game that they are sold into.
Then you get into practical difficulties because the game mechanics are very different. For example, how would you bring a pistol from one game into a game that doesn't have pistols ?
Solve these core problems and then you can start talking about the implementation of that open standard.
So go out and build that world-changing open source, DRM-free game platform! Or support the use of one of the many attempts people have made to create one! You've complained non-stop about what you perceive is the problem, but I've yet to see you recommend an actual solution.I am arguing from a consumer perspective. Newsflash: many things that benefit consumers can be a headache for companies to put in place. The fact that these companies also have random people meatshielding for their interests online is quite tiresome.
Pay.UK is not equivalent to the UK's RTGS (CHAPS) which is the only system that is comparable to Bitcoin. For example, Pay.UK is capped to 1mil pounds per transaction and you can not settle large amounts. Bitcoin can transact and settle arbitrary amounts in one transaction at a security level comparable to e.g. CHAPS or Fedwire. Which is also one of the reasons why I continue to disagree with your compairson: VISA transactions are small ticket sizes and are more appropriately compared to off-chain L2 transactions on e.g. Lightning that are then batched and settled in a more energy expensive L1 transaction.VISA real-time payments includes movement of funds within the VISA network for settlement purposes. The only time you need to use something like Fedwire (or other RTGS system) to settle funds outside the VISA network is when you'd prefer not to pay VISA's fees for movement of funds for net settlement, but would prefer to pay another organisation's fees (e.g. because they're cheaper - I know, for example, that UK banks prefer to use Pay.UK services for settlement because the cost is lower).
And this also applies to Bitcoin; if I want to settle the transaction with funds not in my Bitcoin wallet, which is the equivalent of what you're talking about, how do I get the funds into that Bitcoin wallet so that I can settle the transaction?
So go out and build that world-changing open source, DRM-free game platform! Or support the use of one of the many attempts people have made to create one! You've complained non-stop about what you perceive is the problem, but I've yet to see you recommend an actual solution.
Here! I'll even help you out! Check out GameVault, which I found with two second of googling! It looks to be exactly what you're complaining doesn't exist.
You literally have to only read the title to figure out it is exactly thatThis isn't an editorial
Fair. I mistook the quote @Bilateralrope took from your argument:There's two things that I've "complained" about: 1. the author arguing that consumers should be fine with lacking alternatives because walled gardens like Steam exists 2. that consumers should want to be able to transact certain virtual items across platforms or games.
I don't know why you're going on about DRM free platforms now, you're either not reading my posts, confusing me with someone else or not understanding the discussion entirely.
as an indication you were actually taking about something reasonable - open standards and DRM-free solutions to relying on platforms such as Steam for game distribution - not for the stupid concept that game companies should cater to your perceived need to take an item bought in one game and use it in another.I don't see why there can't be a discussion about open standards for virtual items and DRM-free platforms just because Steam exists.
And again, since you're ignored the question the last time I asked it, where in the article is Kyle "arguing that consumers should be fine with lacking alternatives because walled gardens like Steam exists"?
The creators of the 0X1 claim that blockchain integration allows for "asset ownership directly connected to a device's account system for the first time in gaming history." While that might be technically true for the crypto-maximalist version of "own," it's important to note that the Steam account tied to your Steam Deck will already let you easily buy and sell items from the Steam community market in your local fiat currency.
You're not arguing from a consumer perspective, because you're not taking the cost of implementing your thing into account. The consumer argument for anything is that something will cost $x per customer to add, and even if the price of the product or service goes up by $x, consumers as a whole are better off paying that extra than they are keeping the existing situation.I am arguing from a consumer perspective. Newsflash: many things that benefit consumers can be a headache for companies to put in place. The fact that these companies also have random people meatshielding for their interests online is quite tiresome.
Pay.UK is not capped for settlement transactions by banks; and VISA has real time payments which are also uncapped arbitrary amounts, not small ticket sizes. Unless, of course, you're claiming that billions are "small ticket", in which casePay.UK is not equivalent to the UK's RTGS (CHAPS) which is the only system that is comparable to Bitcoin. For example, Pay.UK is capped to 1mil pounds per transaction and you can not settle large amounts. Bitcoin can transact and settle arbitrary amounts in one transaction at a security level comparable to e.g. CHAPS or Fedwire. Which is also one of the reasons why I continue to disagree with your compairson: VISA transactions are small ticket sizes and are more appropriately compared to off-chain L2 transactions on e.g. Lightning that are then batched and settled in a more energy expensive L1 transaction.
It is and is literally stated on their website too for all 4 payment types offered by them for "Faster Payment". Have it your way though. If you bring direct debit into the discussion... see below:Pay.UK is not capped for settlement transactions by banks; and VISA has real time payments which are also uncapped arbitrary amounts, not small ticket sizes. Unless, of course, you're claiming that billions are "small ticket", in which case![]()