RC_ITR

70 ms·

781.
by RC_ITR 4y ago
>"Better" is not a universal truth. It is dependent on the context of the individual transaction. Where did I call anything better? >If you simply refuse to acknowledge that crypto might be cheaper and/or faster than av
782.
by RC_ITR 4y ago
Ignoring all the other points then are we? And please share crypto's use-case with me. I'd love to be the first to find one.
783.
by RC_ITR 4y ago
>The same reason half the internet falls over when AWS us-east1 So your argument is that the internet would be better if instead of the cloud, we had a bunch of tiny datacenters dispersed around the world? Didn't we do that for like
784.
by RC_ITR 4y ago
>The whole point of crypto is to create a market where a service is provided without relying on a contractual agreement between the provider and the consumer. If you don't have a problem using contractual agreements, then you'r
785.
by RC_ITR 4y ago
>That is really the whole idea, to make it so that the economically rational thing to do is the correct thing. Why is that not the case for Visa or any other centralized entity? You think there's a world in which they incorrectly p
786.
by RC_ITR 4y ago
>I've done many wire transfers and many crypto transfers and the one consistent thing I've found is the crypto transfers are both cheaper and faster. Don't fall into the trap of "current centralized system has problem
787.
by RC_ITR 4y ago
>Are you trying to give a masterclass on logical fallacies? So yes? And again, I'm not saying it's good/safe, it's just in a resource-limited world the only problem is global warming.
788.
by RC_ITR 4y ago
>I'm definitely not thinking of wire transfers, I'm thinking of credit cards. I want Visa and Mastercard to be required to process all legal payments. If that means certain classes of high-risk transactions have to be offered w
789.
by RC_ITR 4y ago
Sigghhh. Why does composability require decentralization?
790.
by RC_ITR 4y ago
Are you trying to give a masterclass on logical fallacies? >Same thing I heard for decades about AGW.In fact, they probably make up a majority in Congress. There were decades of people out there saying the science was still out to worry
791.
by RC_ITR 4y ago
What you're thinking of are wire transfers. We have that already. You can argue that they need to be made faster (I agree), but V and MA aren't the reason why they're slow (banks being lazy and batching payments is). You
792.
by RC_ITR 4y ago
Sure, but then just use wire transfers? You may not like the logic, but the reason it was so easy for V and MA to cut porn is because the insane amount of porn chargebacks ("yeah I didn't make that purchase, it's fraud&quot
793.
by RC_ITR 4y ago
>This is one of the problems, we are missing studies that can demonstrate sources and source contribution to this problem. This is why I hate when people compare climate change to other problems (like GP did). Sure, there's a lot of
794.
by RC_ITR 4y ago
Wait lol what? You said if I were to use contract then don't use crypto? I'm saying if crypto relies on economic incentive, then what's decentralization have to do with that ?
795.
by RC_ITR 4y ago
Read up the thread my guy. >Gonna be very unpopular here, but the sooner gig companies like Uber and DoorDash collapse, the better. The business model of these so-called unicorns is effectively a Ponzi scheme where the end goal is for ea
796.
by RC_ITR 4y ago
>Because if there's only one party, then who is watching them and ensuring they follow the rules? Who is watching the 100's and making sure they're following the rules (and before you say that there are people monitoring t
797.
by RC_ITR 4y ago
I agree the block-chain structure and cryptography are cool, but why do 1000 people need to be deeply incentivized instead of 1?
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by RC_ITR 4y ago
>No.. you're missing the point. So I just rely on economic incentives then? Because I can do that centrally too.
799.
by RC_ITR 4y ago
No, you keep acting like unit economics are evenly distributed, when they are not and that is the point. People show average unit economics and people assume that the average applied to every transaction, when it is actually a distrib
800.
by RC_ITR 4y ago
But what does that mean ? Why does it need to be decentralized? Why can’t one party have the same incentive structure? Listen, I’m all for cryptography and Block-chains, but the whole proof-of thing has never made any sense to me. Maybe to
801.
by RC_ITR 4y ago
Here’s what people miss (for a crowd so anti-MBA, they could benefit from a few online classes) Where these businesses aren’t profitable at the unit economics level it’s because they are trying to gain share of the total addressable market
802.
by RC_ITR 4y ago
> Crucially, you can't solve this through a trusted third party, firstly because there is none that operates world-wide, and secondly because it would grant enormous power to that party, and no logistical actor is willing to give aw
803.
by RC_ITR 4y ago
>They would of course be more expensive, heavier, and bulkier, but they would pay for themselves may times over in time The most expensive parts of any thing are almost always human labor and energy (for transportation mostly), so it i
804.
by RC_ITR 4y ago
I'm not sure what point you're trying to make by showing me they held $2bn of Solana in Nov-22 (itself, like all crypto, a made up and useless/worthless thing) that was worth $10bn in Nov-21. Like sure, to make themselves f
805.
by RC_ITR 4y ago
> The tokens didn't suddenly drop in value. May I point you to a chart showing the price of Solana (SBF's preferred token)? Down 80% in four months is a pretty sudden drop in value. To be clear, I think the fraud started then
806.
by RC_ITR 4y ago
I mean it's always easy to look for a conspiracy, but is it really so crazy to think that in a market that lost $2tn of "value" (I know crypto market caps are fake, but bear with me) that the most aggressive trader out there
807.
by RC_ITR 4y ago
No. His resume shows he's smart enough to understand how market-making and trading works, he just bought into his own mythos and thought he could out-trade the world. If he was actually as skilled as he thought, his strategy could h
808.
by RC_ITR 4y ago
A very important nuance for everyone following this. SBF keeps saying there was a liquidity crisis at FTX, which is 100% not true. A liquidity crisis implies that he took deposits, flipped them into good, but illiquid investments, and ran
809.
by RC_ITR 4y ago
>What does it matter how they give it? $38B is still only $100 per person. Are you saying they give more than $38B? This is a fundamental misunderstanding of how supply and demand work. The money is not given directly to people so making
810.
by RC_ITR 4y ago
>No, the impact of subsidies is always heavily exaggerated by those who want to promote an agenda, as evidenced by the relatively small differences in prices between countries that subsidize and don't subsidize various things. This

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