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There are plenty of useful applications on Ethereum. Maker, Compound, Aave, dYdX, Synthetix, UMA, Uniswap to name very few.

tinyhouse 5y ago
Thanks. I will take a look.
notJim 5y ago
IMO these things are basically driven by speculation as well. From what I can tell, they mainly provide liquidity for financial institutions. Financial institutions are interested in crypto so that they can make money trading it. IMO there is very little actual utility here.
- arberx 5y ago
  Very actual real utility here? What's utility to you? Is buying a in-game COD skin utility? Or how about roblox bucks? How about the trillion dollar derivatives market? All those things easily disrupted by DeFi.
  - notJim 5y ago
    I think it's a fair question, but these are not great examples, IMO. COD skins and Roblox bucks can only be produced and sold by one company, so I don't see why you would need a decentralized protocol for them. CS:GO doesn't use DeFi, and apparently the market was active enough to be used almost entirely for money laundering. For other financial markets, I can definitely see more of a case to be made, but it remains to be seen whether that will actually take off. From what I've seen, the crypto markets right now are primarily dealing in crypto, as I said.
    - arberx 5y ago
      The difference with COD skins being in-game vs on a blockchain is not only can you associate a universal identity to them (your wallet address), but anyone can see and trade for them anywhere. Maybe not the best example, but if you generalize to artwork/digital content it really makes sense.
      - thegreatpeter 5y ago
        why would COD allow that to happen
      - aero- 5y ago
        Why would you need to trade your COD skin through a decentralized distributed network if that skin is only usable through a specific centralized game? The use cases for CRYPTO and NFT are extremely small. Its a solution that's been looking for a problem for over 10 years.
        acjohnson55 5y ago
        Agreed. I think the real use for NFT is tradable identities/roles, which grant access to digital or physical experiences that span organizations. Remains to be seen whether someone builds a killer app/experience around that. So far, people are only interested in mundane simulation of physical scarcity.
  - tnzm 5y ago
    Did you accidentally a word? >Is buying a in-game COD skin utility? Or how about roblox bucks? How about the trillion dollar derivatives market? No.
- tnzm 5y ago
  I suspect financial institutions are interested in crypto because they don't want a new financial system with a more democratic organizational model to make them obsolete. Maybe there are some forward thinking people there who want crypto to be the driving factor behind refactoring from COBOL, who knows.

tinyhouse 5y ago

Thanks. I will take a look.

notJim 5y ago

IMO these things are basically driven by speculation as well. From what I can tell, they mainly provide liquidity for financial institutions. Financial institutions are interested in crypto so that they can make money trading it. IMO there is very little actual utility here.

arberx 5y ago
Very actual real utility here? What's utility to you? Is buying a in-game COD skin utility? Or how about roblox bucks? How about the trillion dollar derivatives market? All those things easily disrupted by DeFi.
- notJim 5y ago
  I think it's a fair question, but these are not great examples, IMO. COD skins and Roblox bucks can only be produced and sold by one company, so I don't see why you would need a decentralized protocol for them. CS:GO doesn't use DeFi, and apparently the market was active enough to be used almost entirely for money laundering. For other financial markets, I can definitely see more of a case to be made, but it remains to be seen whether that will actually take off. From what I've seen, the crypto markets right now are primarily dealing in crypto, as I said.
  - arberx 5y ago
    The difference with COD skins being in-game vs on a blockchain is not only can you associate a universal identity to them (your wallet address), but anyone can see and trade for them anywhere. Maybe not the best example, but if you generalize to artwork/digital content it really makes sense.
    - thegreatpeter 5y ago
      why would COD allow that to happen
    - aero- 5y ago
      Why would you need to trade your COD skin through a decentralized distributed network if that skin is only usable through a specific centralized game? The use cases for CRYPTO and NFT are extremely small. Its a solution that's been looking for a problem for over 10 years.
      - acjohnson55 5y ago
        Agreed. I think the real use for NFT is tradable identities/roles, which grant access to digital or physical experiences that span organizations. Remains to be seen whether someone builds a killer app/experience around that. So far, people are only interested in mundane simulation of physical scarcity.
- tnzm 5y ago
  Did you accidentally a word? >Is buying a in-game COD skin utility? Or how about roblox bucks? How about the trillion dollar derivatives market? No.
tnzm 5y ago
I suspect financial institutions are interested in crypto because they don't want a new financial system with a more democratic organizational model to make them obsolete. Maybe there are some forward thinking people there who want crypto to be the driving factor behind refactoring from COBOL, who knows.