6 ms·

Dexes like uniswap have been doing just fine

by joemazerino 4y ago

m00dy 4y ago
So few people understand this. But, don't worry. Great inventions need some time to be realized.
- Eisenstein 4y ago
  Can you name off the top of your head 5 great inventions that weren't immediately realized?
  - MacsHeadroom 4y ago
    Notably, the internet was widely thought to be a fad for the first ~20 years.
    - hotpotamus 4y ago
      I suppose it depends on how you're defining the first year of the internet, but I don't remember many people thinking it was a fad. I'd say it's the one invention in my life that has actually lived up to the hype.
    - Eisenstein 4y ago
      Notably, according to crypto evangelists. No one thought the internet was a fad. It had a time when it was novel and therefore people who didn't know how to use it would make fun of it, but absolutely no one who used it thought it was a 'fad'. As soon as the first web browser became accessible to consumers the dot com era exploded. There is a difference between 'didn't hit mass adoption due to massive infrastructure needing to be built in real time' and 'we don't know what this is useful for'.
      - MacsHeadroom 4y ago
        > No one thought the internet was a fad. Wrong. [0] 1995 Wired Magazine "Most things that succeed don’t require retraining 250 million people." [1] 1995 NewsWeek "The Internet is a fad" https://www.peterlundell.com/the-internet-is-a-fad/ https://www.peterlundell.com/the-internet-is-a-fad/ [2] 2000 Daily Mail "Internet may be just a passing fad as millions give up on it." https://regia-marinho.medium.com/internet-may-be-just-a-passing-fad-the-newspaper-said-21-years-ago-153aae2e0c2f https://regia-marinho.medium.com/internet-may-be-just-a-pass... etc. etc. Anyone who was a nerd in the 80s and early 90s knows that we spent the better part of two decades being told that the internet was no more revolutionary than fax machines and that most people would never use it.
        deleted 4y ago
        [deleted]
        Eisenstein 4y ago
        Some op-ed pieces and getting mocked by people for being a nerd do not demonstrate to me a fundamental disagreement about the usefulness of the internet amongst people who understood what it was. Ignorance is annoying, but it is easily remedied by exposure and knowledge. Contrast this with a cryptocurrency technologies, which are completely understood at this point and still lack legit real-world use at scale beyond speculation and yet it is constantly claimed that 'it just takes time for brilliant technology to find a use case'. As far as I can recall, this has never been the case in the modern world -- every paradigm changing technology has had an immediate and obvious application where it greatly surpassed anything before it, regardless of if it took years or decades to build infrastructure and educate people on how to use it.
  - boomerango 4y ago
    I’m not saying whatever that is is a great invention but Alternating current… Computers… Smartphones… The internet…
    - Eisenstein 4y ago
      I think you are mistaking 'waiting for technology/infrastructure to mature enough to make them accessible to everyone' with 'technology that people don't know how to do something useful with'.
astrange 4y ago
Does anyone both use these and correctly report their taxes? The accounting seems like a pain.
- bhawks 4y ago
  Cointracker and Koinly both support tax reporting on swaps and liquidity providing on uniswap and many other dexes.
- joemazerino 4y ago
  Oh absolutely. I would never not let the government take a slice of my hard earned money.
  - astrange 4y ago
    You mean “let the government prevent inflation”. (If everyone pays income taxes, noone’s relative purchasing power is reduced by paying them, because you have the same % of the money supply. More or less.)
themihai 4y ago
Except they are unusuable most of the time due the hogh transaction fees.
- hulahoof 4y ago
  This is true for Eth, but there are many chains where DeFi exchange transaction fees are a rounding error

Dexes like uniswap have been doing just fine

m00dy 4y ago

So few people understand this. But, don't worry. Great inventions need some time to be realized.

Eisenstein 4y ago
Can you name off the top of your head 5 great inventions that weren't immediately realized?
- MacsHeadroom 4y ago
  Notably, the internet was widely thought to be a fad for the first ~20 years.
  - hotpotamus 4y ago
    I suppose it depends on how you're defining the first year of the internet, but I don't remember many people thinking it was a fad. I'd say it's the one invention in my life that has actually lived up to the hype.
  - Eisenstein 4y ago
    Notably, according to crypto evangelists. No one thought the internet was a fad. It had a time when it was novel and therefore people who didn't know how to use it would make fun of it, but absolutely no one who used it thought it was a 'fad'. As soon as the first web browser became accessible to consumers the dot com era exploded. There is a difference between 'didn't hit mass adoption due to massive infrastructure needing to be built in real time' and 'we don't know what this is useful for'.
    - MacsHeadroom 4y ago
      > No one thought the internet was a fad. Wrong. [0] 1995 Wired Magazine "Most things that succeed don’t require retraining 250 million people." [1] 1995 NewsWeek "The Internet is a fad" https://www.peterlundell.com/the-internet-is-a-fad/ https://www.peterlundell.com/the-internet-is-a-fad/ [2] 2000 Daily Mail "Internet may be just a passing fad as millions give up on it." https://regia-marinho.medium.com/internet-may-be-just-a-passing-fad-the-newspaper-said-21-years-ago-153aae2e0c2f https://regia-marinho.medium.com/internet-may-be-just-a-pass... etc. etc. Anyone who was a nerd in the 80s and early 90s knows that we spent the better part of two decades being told that the internet was no more revolutionary than fax machines and that most people would never use it.
      - deleted 4y ago
        [deleted]
      - Eisenstein 4y ago
        Some op-ed pieces and getting mocked by people for being a nerd do not demonstrate to me a fundamental disagreement about the usefulness of the internet amongst people who understood what it was. Ignorance is annoying, but it is easily remedied by exposure and knowledge. Contrast this with a cryptocurrency technologies, which are completely understood at this point and still lack legit real-world use at scale beyond speculation and yet it is constantly claimed that 'it just takes time for brilliant technology to find a use case'. As far as I can recall, this has never been the case in the modern world -- every paradigm changing technology has had an immediate and obvious application where it greatly surpassed anything before it, regardless of if it took years or decades to build infrastructure and educate people on how to use it.
- boomerango 4y ago
  I’m not saying whatever that is is a great invention but Alternating current… Computers… Smartphones… The internet…
  - Eisenstein 4y ago
    I think you are mistaking 'waiting for technology/infrastructure to mature enough to make them accessible to everyone' with 'technology that people don't know how to do something useful with'.

astrange 4y ago

Does anyone both use these and correctly report their taxes? The accounting seems like a pain.

bhawks 4y ago
Cointracker and Koinly both support tax reporting on swaps and liquidity providing on uniswap and many other dexes.
joemazerino 4y ago
Oh absolutely. I would never not let the government take a slice of my hard earned money.
- astrange 4y ago
  You mean “let the government prevent inflation”. (If everyone pays income taxes, noone’s relative purchasing power is reduced by paying them, because you have the same % of the money supply. More or less.)

themihai 4y ago

Except they are unusuable most of the time due the hogh transaction fees.

hulahoof 4y ago
This is true for Eth, but there are many chains where DeFi exchange transaction fees are a rounding error