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I’m surprised a16z are still falling for the cryptocurrency meme. It’s been so obvious from the beginning that this will flame out.
by lawnchair_larry 7y ago
I’m surprised a16z are still falling for the cryptocurrency meme. It’s been so obvious from the beginning that this will flame out.
- spir 7y agoToday, on Ethereum, in one atomic transaction, you can borrow $5m with zero credit or collateral, execute an arbitrage algorithm across N independent financial services, generate a small profit, and repay the $5m. The transaction fails if the predicted profit doesn't materialize, preventing you from losing money, except the transaction fee. The idea that nothing novel or useful is going on in cryptocurrency is intellectually bankrupt. Here are two recent links that I think show some of the cool work going on in Ethereum https://medium.com/molochdao/the-state-of-optimistic-rollup-8ade537a2d0f https://medium.com/molochdao/the-state-of-optimistic-rollup-... https://gitcoin.co/blog/gitcoin-grants-round-5-funding-our-future/ https://gitcoin.co/blog/gitcoin-grants-round-5-funding-our-f...
- lawnchair_larry 7y agoDoesn’t matter if money is moving around in it right now. It doesn’t matter if it’s “interesting”. It’s a fad with no staying power.