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.. and we did so in a “decentralized” manner. Because we’re the Decentral Bank, of course, and everything is possible if you believe in it, including arbitraril

by Mo3 4y ago

.. and we did so in a “decentralized” manner. Because we’re the Decentral Bank, of course, and everything is possible if you believe in it, including arbitrarily modifying and fixing bugs in “immutable” constructs in a centralized manner. Thank god we didn’t have to halt and roll back the blockchain again, that always forces Joe to put in decentralized overtime. These people are slowly but surely building a shitty carbon copy of the regular financial system and don’t even realize it.

aaaaaaaaata 4y ago
The ones doing that are getting fucked. The headlines are here weekly. How does this keep being repeated? Is Loopring doing a shit carbon copy of the existing financial system? How about FTX? You can claim some of the same bad characteristics, but certainly not the same systemic weaknesses, and frankly, types of disrespect.
- Mo3 4y ago
  > Is Loopring doing a shit carbon copy of the existing financial system? No, that’s a shit carbon copy of order rings to facilitate the shit carbon copy of the regular market. > How about FTX? You can claim some of the same bad characteristics, but certainly not the same systemic weaknesses, and frankly, types of disrespect. .. that’s a centralized exchange like any other centralized exchange, with the added bonus of absolutely no regulatory oversight, compliance requirements, transparency and absolutely no asset protection. Considering that all this boring boomer-crap exists to protect market participants (so, you), I suspect that this is a level of disrespect and systemic weakness that’s almost impossible to achieve anywhere else. Anyway, what system, there is nothing “crypto” about centralized exchanges besides the assets being traded. You’re probably going to contemplate decentralized exchanges now, so on this note I’d just like to remind you that not even decentralized exchanges like Uniswap or DYDX are actually decentralized, and even if they will be at some point, they will not be immutable, completely negating any of the hallucinated benefits to begin with, and they will probably never be either because it’s quite literally nearly impossible. > How does this keep being repeated? Because people with the faintest idea about economics or what a blockchain actually is are not in DeFi, so the echo chamber doesn’t even include the most simple concepts. I have no doubt there will be very valuable applications for cryptocurrency at some point, but this shit ain’t it.

by Mo3 4y ago

aaaaaaaaata 4y ago

The ones doing that are getting fucked. The headlines are here weekly. How does this keep being repeated? Is Loopring doing a shit carbon copy of the existing financial system? How about FTX? You can claim some of the same bad characteristics, but certainly not the same systemic weaknesses, and frankly, types of disrespect.

Mo3 4y ago
> Is Loopring doing a shit carbon copy of the existing financial system? No, that’s a shit carbon copy of order rings to facilitate the shit carbon copy of the regular market. > How about FTX? You can claim some of the same bad characteristics, but certainly not the same systemic weaknesses, and frankly, types of disrespect. .. that’s a centralized exchange like any other centralized exchange, with the added bonus of absolutely no regulatory oversight, compliance requirements, transparency and absolutely no asset protection. Considering that all this boring boomer-crap exists to protect market participants (so, you), I suspect that this is a level of disrespect and systemic weakness that’s almost impossible to achieve anywhere else. Anyway, what system, there is nothing “crypto” about centralized exchanges besides the assets being traded. You’re probably going to contemplate decentralized exchanges now, so on this note I’d just like to remind you that not even decentralized exchanges like Uniswap or DYDX are actually decentralized, and even if they will be at some point, they will not be immutable, completely negating any of the hallucinated benefits to begin with, and they will probably never be either because it’s quite literally nearly impossible. > How does this keep being repeated? Because people with the faintest idea about economics or what a blockchain actually is are not in DeFi, so the echo chamber doesn’t even include the most simple concepts. I have no doubt there will be very valuable applications for cryptocurrency at some point, but this shit ain’t it.