dropnerd

8 ms·

31.
by dropnerd 4y ago
we may lose, unless the right people speak up
32.
by dropnerd 4y ago
PoW protocols are just as susceptible to MEV (it's called "miner extractable value").
33.
by dropnerd 4y ago
the result of this is people can only buy virgin galactic when they actually want to buy spacex. seems misguided
34.
by dropnerd 4y ago
> defi is a scam [for] avoiding taxes using defi to minimize tax burden is neither a scam nor unethical. plenty of people borrow against their houses or stocks. > nfts are dominated by stolen pieces most nft volume is made of bored ap
35.
by dropnerd 4y ago
usdt has always felt like a house of cards. aside from any specific insider knowledge, presumably people got less comfortable holding it after watching ust collapse. i certainly don't plan to touch it, and won't unless there'
36.
by dropnerd 4y ago
opensea seems to be doing this internally already. is this tool necessary if most exchanges will flag copycats for you?
37.
by dropnerd 4y ago
why does fractional ownership diminish utility?
38.
by dropnerd 4y ago
fractional nfts never took off. the meta is collector daos.
39.
by dropnerd 4y ago
you can build a museum around counterfeit artworks. why would anyone bother though?
40.
by dropnerd 4y ago
the article does not do a good job of explaining the "hiccup". let me break it down. > Recently, high-profile hiccups have also deflated investors. In late April, the company behind the Bored Ape Yacht Club, Yuga Labs, auctione
41.
by dropnerd 4y ago
even from a utilitarian stance, the tradeoff for making the system "safer" is that investors miss opportunities that they see but can't take. something is wrong when you can only buy virgin galactic, not spacex, because of bu
42.
by dropnerd 4y ago
login with eth/ens has more traction than pgp ever will. a win for decentralized identity. messages on the btc or eth blockchain or arweave are more durable and uncensorable than messages on social media. international transfers now co
43.
by dropnerd 4y ago
i wonder if usdc to jeur is more efficient than usd to eur. it could be- many banks are opaque about their conversion rates.
44.
by dropnerd 4y ago
i understand why we might want to dissuade speculative investments, byt why is it the state's role to prevent citizens from speculating?
45.
by dropnerd 4y ago
levered shorts do have a liquidation downside, while any short has an implicit opportunity cost downside over time. the fact that defi shorting is available is a great improvement. now there's only smart contract risk, which for aave i
46.
by dropnerd 4y ago
> Obviously someone has to get the ICO money. the value accrues to the network (20 million to 300 billion over the last decade or so), not the dollars that went into the ico sale. the ico dollars are a rounding error.
47.
by dropnerd 4y ago
audit is obviously better, am confident that tether will not be the first to introduce an audited stablecoin
48.
by dropnerd 4y ago
i have been interested in shorting tether since 2017. if i had gone through with it, i would have paid 5 years of interest for close to no return, including in 2018 when crypto fell 90%. also, if enough people are levered short, crypto trad
49.
by dropnerd 4y ago
2-4% seems like a bad deal compared to sending usdc, which should be around closer to 0.1-1% after the ukraine exchange takes their usdc to local currency exchange fee. minimal volatility, less fees.
50.
by dropnerd 4y ago
i pay my taxes. i make money providing liquidity between eth and usdc. when i'm not lp'ing, i see no reason to switch to usd so long as us-based attestations continue to be solid. the opportunity cost of being in usd on coinbase i
51.
by dropnerd 4y ago
is 0.03% enough incentive to secure a trustless network?
52.
by dropnerd 4y ago
no one in this thread is promising utopia. i am merely pushing back against assertions of bitcoin being "most equitable". late entrants add value to networks, and some of that value accrues to early entrants. this is the same for
53.
by dropnerd 4y ago
how does the capital cost being mining hardware and electricity rather than a pos token make the system more equitable?
54.
by dropnerd 4y ago
anyone who has run a validator node on a slashing network knows there are real costs and logistics to pos staking.
55.
by dropnerd 4y ago
> MMF liquidated from your link: > In 2008 however, the day after Lehman Brothers Holdings Inc. filed for bankruptcy, one money market fund fell to 97 cents after writing off the debt it owned that was issued by Lehman. This created t
56.
by dropnerd 4y ago
stablecoins don't promise to hold the peg 100%. they promise to be able to repeg in times of severe distress. even some money markets broke the dollar. they had to be bailed out by the government. what about makerdao makes it reliant o
57.
by dropnerd 4y ago
networks derive their value from participation. ex. if the us government held 100% of dollars or berkeley had 100% of internet connected devices or jack had 100% of twitter accounts, these dollars or devices or accounts wouldn't be ver
58.
by dropnerd 4y ago
they hid the answer to find junior analysts instead of stating the solution outright https://twitter.com/galois_capital/status/148693794923729715...
59.
by dropnerd 4y ago
startups usually dont have enough resources for a black swan. but this collapse was entirely predictable- many analysts pointed it out and were mocked by kwon and the self-described LUNAtics. founders either didn't do enough diligence,
60.
by dropnerd 4y ago
algo stablecoins work fine when they're overcollateralized, like dai. the industry keeps chasing undercollateralized algo stablecoins because of capital efficiency. jon wu explains to laura shin, worth a watch: https://twitt

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