diegocerdan

9 ms·

1.
by diegocerdan 4y ago
> The common belief of worth is where similarities between bitcoin and gold end Sure, it's also enough. > You call bitcoin a SoV but further down describe it as a form of money. The primary functions which distinguish money are
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by diegocerdan 4y ago
The function of Store of Value (SoV) of any money is acquired by common belief of it's worth. It happened with gold in a very long time-span. People holding gold would not benefit of the increase of price as it took too long. Gold... w
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by diegocerdan 6y ago
Most people in 1900 would not transact in Gold although it was the first settlement. The world was fine till governments decided to operate without hard money as first settlement layer. We are going to revert back. It _has_ to be fixed.
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by diegocerdan 6y ago
Enough to be the first settlement layer of the whole finacial system. On top of that layer, you can have country fiat coins, centralized exchanges and others.
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by diegocerdan 6y ago
The question that matters is: Does the existence of Bitcoin allow better coordination such that the global productivy raises 2%? And I would with no doubt answer: YES. Central Banks are distorting the function of Money and bringing economie
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by diegocerdan 6y ago
Agents are forced to play to avoid getting robbed by inflation thus wealth is transfered to owners from no-owners. Luckly for the working class, nowadays everybody can invest with a cheap smartphone and their little capital thus there is no
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by diegocerdan 6y ago
The amount of human work possible is limited and so are raw material. By investing you are giving somebody money that when used will make access to those bought resources more expensive to other agents. That is why in the perfect system you
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by diegocerdan 6y ago
Basic economic rules are not designed but result of trade. If you buy in the present what others want to own in the future, you create value for yourself as the price of the asset rises. You can also understand Bitcoin as a business. Assumi
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by diegocerdan 6y ago
You are basically being first choosing the store of value that will be used in the future. That's a risky move if you fail. Are the rewards desirable? That's an interesting discusion. Historically, it has allowed humanity to switc
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by diegocerdan 6y ago
I'm just reasoning why it will happen. Macro markets do not always react fast to these kind of trends. I agree with your description of the present and close past, thus calling an imminent bull market. The more time this present situat
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by diegocerdan 6y ago
Value sitting on dollars or government bonds is being devaluated. Not all value can be invested in the present, thus people want to invest in the future (savings theory). If governments do not offer fiat money or bonds as savings vehicle, a
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by diegocerdan 6y ago
What if sentiment is blue-pilled and holding dollars is actually the gamble? You would be holding the wrong side of the stick. I would agree that dollars have little downside but the purchasing power degradation of dollars feels like a irre
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by diegocerdan 6y ago
No inflation? Look what new money has bought and you will clearly see huge inflation: stocks and housing. We don't see shopping cart inflation because it's countered by the technological cheapening of the production. And the key f
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by diegocerdan 6y ago
If most assets are still rising and breaking all time highs in a downturn economy what it really means is that the dollar is falling in a race to the bottom with all other fiat currencies. People avoid holding money by buying stocks and hou
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by diegocerdan 8y ago
I would argue that Maker is the most successful project on Ethereum at the moment. It's hardly categorized as a dApp because most people interact only with the DAI stablecoin token and not with an interface. Is already released on main
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by diegocerdan 8y ago
Is utterly funny to read people's opinions bashing against blockchain technology and when asked about a simple definition they fail to mention the use of consensus protocols which was, already 10 years ago, the huge innovation that lea
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by diegocerdan 8y ago
Price inflation happens daily. You can store your value on Bitcoin and exchange it for enough bolivars just before you go to the supermarket.
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by diegocerdan 8y ago
DAI is a stable coin on the Ethereum network and it is decentralized. 1 DAI = $1 https://makerdao.com/
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by diegocerdan 8y ago
Just clear your cookies.
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by diegocerdan 8y ago
Their value is so volatile because their total valuation is not big enough to make them stable. Multiply Bitcoin's or Ethereum's total valuation by 100 and suddenly you have a much more stable asset at the price range of gold. And
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by diegocerdan 8y ago
MakerDAO is a great example of a decentralized stablecoin on the Ethereum network. I personally own some DAI tokens that are pegged to the dollar.
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by diegocerdan 9y ago
Dai Stablecoin System
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by diegocerdan 9y ago
People ask for sources about your harsh claims and you share various multiple hour podcasts that "you have to watch it to the end". Some people may not be able to code but others are not even able to argue.
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by diegocerdan 9y ago
If funds move out from your wallet without your intervention then somebody else has to have your key.
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by diegocerdan 9y ago
You can transact using Ethereum in a couple of seconds. Multiple block confirmations are important to be sure you are in the longest chain. With big amount transactions you should wait for multiple blocks, being 6 enough to be extremely sur
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by diegocerdan 9y ago
Early developers used this 12.5% to bootstrap projects and also to sustain themselves using ETH as a salary. On the early days ETH was pretty cheap so you can imagine them burning through a lot of it. I would say they hold much less nowaday
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by diegocerdan 9y ago
David vs. Goliath
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by diegocerdan 9y ago
The three main functions of money are store of value, medium of exchange and unit of account. I use these three functions right now with cryptocurrencies. Your premise to dismiss cryptocurrencies is that you don't believe I'm gonn
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by diegocerdan 9y ago
I agree with you that there is no killer app right now. But even the main characteristics of cryptocurrencies make them attractive at the moment: store of value and transactions. Ask people in Venezuela, Zimbabwe, Russia, China and a big et
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by diegocerdan 9y ago
Being open source is a basic need for people to trust a cryptocurrency. Whole stack needs to be open source: nodes, miners, clients, documentation, release plan, organization structure, etc. And being created that way brings to the table al

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