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You can use Ethereum Layer 2 tech like Loopring, zkSync, and eventually Optimism which Coinbase supports in the Coinbase Wallet. They haven't even added support

You can use Ethereum Layer 2 tech like Loopring, zkSync, and eventually Optimism which Coinbase supports in the Coinbase Wallet. They haven't even added support for Lightning

Daishiman 5y ago
Nobody in the real world is using any of this.
- 3np 5y ago
  ...yet, all these are fairly new. Give it another 2-5 years for implementations and integrations. Also, it’s already used in defi, if you count that as “real world”. Reminds me of when anything on the internet wasnt “real”.
  - Daishiman 5y ago
    Sorry but I've been following the last decade of the crypto world. In a decade I have not seen a single "defi" product sticking around because there just doesn't seem to be real demand for these products. Considering how many spaces in new startups developed massive traction in that span of time (social networks, other forms of digital payments and banking, online marketplaces) the fact that there are no star products in such a span of time gives me little consideration.
    - suikadayo 5y ago
      Wait what? DeFi pretty much started booming from last summer.. it hasn't existed for a decade. Do you not know Uniswap? It's existed since around 2017. Sushiswap? even Pancakeswap? There's $80 billion locked in DeFi right now. https://defipulse.com/ https://defipulse.com/ Uniswap has more transaction fees than the Bitcoin network https://cryptofees.info/history/2021-05-16 https://cryptofees.info/history/2021-05-16 Institutions are even starting to get in https://twitter.com/stanikulechov/status/1394390461968633859 https://twitter.com/stanikulechov/status/1394390461968633859
      - jude- 5y ago
        I call bs. There is not $80 billion USD locked in defi -- the world has not taken $80 billion USD, bought crypto with it, and put the crypto into defi code. Like, where are the receipts? What has happened is defi tokens have appreciated through speculation. Sites like defi pulse erroneously represent the wealth locked into defi contracts as token_price * tokens_locked, which is trivial to manipulate for shallow-market tokens. Like, I can spin up a token with 1 billion units, buy one token for $1, and put the remaining tokens into a defi contract. Voila -- defi pulse reports $81 billion locked. EDIT: downvotes aren't receipts, and downvoting doesn't change the accounting discrepancy.
      - Daishiman 5y ago
        An 80 billion market cap in Ponzi scheme products with no star companies that testify the usage of said products sounds like a scam.
        rhlsthrm 5y ago
        Aave, Compound are both not Ponzi schemes and allow you to lock things like USDC and ETH (also not Ponzi schemes) for others to borrow, and earn interest. It's automated lending, I don't understand how people are not excited about this.
        Daishiman 5y ago
        Because the only reason this is useful is if people are _using_ it. There is not a goddamn person in this planet using this finance their car or their house that's not a crypto fanatic with no rationality to their finances. That's not a market. A circlejerk of crypto funds trading amongst themselves is not a market. You don't see a single institution, collective, or government actually supporting or putting their money on this with the exception of more speculators. Financial technology is worthless if it's not used for things outside of finance.
    - kobasa 5y ago
      No demand for DeFi? Are you serious? Total value in DeFi has gone from sub $1b to over $70b in the last year.
      - Daishiman 5y ago
        Ok, tell me who outside of the crypto circlejerk of speculators is actually putting in their money to use this for something outside of crypto.
  - CameronNemo 5y ago
    >Give it another 2-5 years for implementations and integrations. This is what I heard when Lightning went live.
    - suikadayo 5y ago
      Lightning usability is horrible and requires 2 parties to be online at the same time, whereas with Ethereum scaling solutions, you can use your regular metamask wallet to deposit, and you're on L2.
      - Daishiman 5y ago
        And very likely just like Lighting we'll hear similar excuses as to why it doesn't work.
- rhlsthrm 5y ago
  The early adopters will be the ones who reap the rewards.

You can use Ethereum Layer 2 tech like Loopring, zkSync, and eventually Optimism which Coinbase supports in the Coinbase Wallet. They haven't even added support for Lightning

Daishiman 5y ago

Nobody in the real world is using any of this.

3np 5y ago
...yet, all these are fairly new. Give it another 2-5 years for implementations and integrations. Also, it’s already used in defi, if you count that as “real world”. Reminds me of when anything on the internet wasnt “real”.
- Daishiman 5y ago
  Sorry but I've been following the last decade of the crypto world. In a decade I have not seen a single "defi" product sticking around because there just doesn't seem to be real demand for these products. Considering how many spaces in new startups developed massive traction in that span of time (social networks, other forms of digital payments and banking, online marketplaces) the fact that there are no star products in such a span of time gives me little consideration.
  - suikadayo 5y ago
    Wait what? DeFi pretty much started booming from last summer.. it hasn't existed for a decade. Do you not know Uniswap? It's existed since around 2017. Sushiswap? even Pancakeswap? There's $80 billion locked in DeFi right now. https://defipulse.com/ https://defipulse.com/ Uniswap has more transaction fees than the Bitcoin network https://cryptofees.info/history/2021-05-16 https://cryptofees.info/history/2021-05-16 Institutions are even starting to get in https://twitter.com/stanikulechov/status/1394390461968633859 https://twitter.com/stanikulechov/status/1394390461968633859
    - jude- 5y ago
      I call bs. There is not $80 billion USD locked in defi -- the world has not taken $80 billion USD, bought crypto with it, and put the crypto into defi code. Like, where are the receipts? What has happened is defi tokens have appreciated through speculation. Sites like defi pulse erroneously represent the wealth locked into defi contracts as token_price * tokens_locked, which is trivial to manipulate for shallow-market tokens. Like, I can spin up a token with 1 billion units, buy one token for $1, and put the remaining tokens into a defi contract. Voila -- defi pulse reports $81 billion locked. EDIT: downvotes aren't receipts, and downvoting doesn't change the accounting discrepancy.
    - Daishiman 5y ago
      An 80 billion market cap in Ponzi scheme products with no star companies that testify the usage of said products sounds like a scam.
      - rhlsthrm 5y ago
        Aave, Compound are both not Ponzi schemes and allow you to lock things like USDC and ETH (also not Ponzi schemes) for others to borrow, and earn interest. It's automated lending, I don't understand how people are not excited about this.
        Daishiman 5y ago
        Because the only reason this is useful is if people are _using_ it. There is not a goddamn person in this planet using this finance their car or their house that's not a crypto fanatic with no rationality to their finances. That's not a market. A circlejerk of crypto funds trading amongst themselves is not a market. You don't see a single institution, collective, or government actually supporting or putting their money on this with the exception of more speculators. Financial technology is worthless if it's not used for things outside of finance.
  - kobasa 5y ago
    No demand for DeFi? Are you serious? Total value in DeFi has gone from sub $1b to over $70b in the last year.
    - Daishiman 5y ago
      Ok, tell me who outside of the crypto circlejerk of speculators is actually putting in their money to use this for something outside of crypto.
- CameronNemo 5y ago
  >Give it another 2-5 years for implementations and integrations. This is what I heard when Lightning went live.
  - suikadayo 5y ago
    Lightning usability is horrible and requires 2 parties to be online at the same time, whereas with Ethereum scaling solutions, you can use your regular metamask wallet to deposit, and you're on L2.
    - Daishiman 5y ago
      And very likely just like Lighting we'll hear similar excuses as to why it doesn't work.
rhlsthrm 5y ago
The early adopters will be the ones who reap the rewards.