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Obligatory I'm a fan of cryptocurrency, and only a very, very small subset of them at that. Sturgeon's Law, 90% of everything is crap. I tried to tell some of
by friend_and_foe 3y ago
Obligatory I'm a fan of cryptocurrency, and only a very, very small subset of them at that. Sturgeon's Law, 90% of everything is crap.
I tried to tell some of these people. What's the value proposition? People talked about artists and all this and I'm like, OK, what's the value proposition to the buyer? Then I'd hear about how they'll be useful for something some day, so OK, they're useless now? And then something something greater fool. It really was something to watch, "metaverse real estate" and all this.
I can tell you the value proposition of a handful of cryptocurrencies. You might not agree, but there's a case I can make. I can tell you Tue value proposition of ethereum. Nobody to this day has been able to give me anything concrete about NFTs or crypto gaming or any of that stuff. It's all hand wavy "this is the future" or "people are going to want this" or something like that. It was all a plainly obvious load of crap.
- tazard 3y agoUniswap V3 liquidity pools are managed as NFTs. Not your main point I know, but people often think of NFTs as simply buy and sell art on opensea. A liquidity pool has clear value.
- friend_and_foe 3y agoWhat do you mean by "managed as NFTs"? A liquidity pool is a contract where people put their coins in and the contract gives them a percentage ownership of all assets in the contract and they get a small fee off the trades done in it. Are you saying that the proof of ownership is a non fungible token? That seems like a small technical detail, it's not the token that has value, it's the assets in the pool, you could easily do it with fungible tokens or with simply a record of ownership in the contract.