gh55

5 ms·

1.
by gh55 5y ago
More recently Vitalik has said Ethereum PoS is at least a couple of years away, likely due to new attack vectors that require further research https://arxiv.org/abs/2110.10086 , one of which enables an attack with only
2.
by gh55 5y ago
Property prices aren't so crazy - a friend of mine pays €400 a month in a nice part of Costa da Caparica for a 2 bed, another bought a great place for under €200k in Cacilhas. For under €500k you can get something like this https:&#x2
3.
by gh55 5y ago
You're quite right, there are risks with everything in life. I believe a hardware wallet to be far more secure than online banking. I think you'll find this interesting: https://trezor.io/shamir/
4.
by gh55 5y ago
Bitcoin is imaginary in the same way an email is an imaginary letter, or this is an imaginary conversation (we are not talking face to face, people of last century would struggle to understand that I am indeed talking with another person, s
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by gh55 5y ago
Thought you might find this insightful. I agree with you on, not your keys not your crypto - this ETF is not the best option for many people, but for some it is perhaps their only and therefore best option: https://www.reddit.com
6.
by gh55 5y ago
I don't assume intent but this comment is disinformation - stable coins are some of the riskiest major assets in the space, since their backing is questionable at best[1], and even those that are "backed" are inescapably cust
7.
by gh55 5y ago
Yes, DOGE can be borrowed and then sold, to be repurchased later (at a possibly lower price); short positions can be opened. Plenty of DOGE is available for shorting. GPUs currently mining Ethereum can be used instead in a 51% attack agains
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by gh55 5y ago
For me, knowing that a contract will be followed regardless of the wishes of any party involved is very valuable. Knowing that an asset will remain scarce, its issuance predictable, and that I can store it securely at extremely low cost, is
9.
by gh55 5y ago
As per terms of settlement with NYAG, Tether will be disclosing details of their reserves on a regular basis from now on to NYAG, let's see how fake USDT is - NYAG seem satisfied for now that it is backed by full reserves.
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by gh55 5y ago
Just so you know, Dogecoin's blockchain is trivial to attack; its ledger can be altered at such low cost it is unlikely several such attacks aren't already underway. Upon publushing of new "longest chains" it will no lon
11.
by gh55 5y ago
Tether, the 6th largest cryptocurrency has a market cap of ~$160B, seems pretty "popular" to me. USDC TUSD and BUSD are further popular examples. Cryptocurrencies are not MLMs, you would do yourself a huge favour by learning what
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by gh55 5y ago
I'm surprised no-one has mentioned rotor sails yet https://en.wikipedia.org/wiki/Rotor_ship?wprov=sfla1
13.
by gh55 6y ago
USDT, USDC and DAI each have their own set of counterparty risks. USDT is regulated somewhere sunny, USDC somewhere that could be hostile if given enough power, and DAI is backed by digital assets such as custodied Ethereum. The sooner ther
14.
by gh55 6y ago
Incidentally, it is my hope that once laws change the collateral can be any type of asset, not only digital assets. The collateral could also be some sort of tokenized reputation issued by a collective, whom have decided you are worthy of c
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by gh55 6y ago
I think you're conflating two things. Collectively owned, as in how large companies are owned by their shareholders. Decentralized, as in instead of a company, its a piece of software, that we are collectively funding the development o
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by gh55 6y ago
Regarding the auto financing. Traditional lenders will typically have no ability to repossess secured assets themselves, they will send out a colourful letter and if that doesn't work, sell the debt to a collection agent. DeFi in the f
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by gh55 6y ago
All actors having better access to these tools and others, more open markets. Someone with knowledge of new tools can build services aimed at various market participants, without needing much capital etc. Goods were sold before the Internet
18.
by gh55 6y ago
If loan repayment is not made, or the collateral falls in value sufficiently that the loan becomes undercollateralized, the collateral will be sold to cover the outstanding debt. The outstanding debt can be invested on a new business, stock
19.
by gh55 6y ago
DAI is mostly minted from ETH, at a rate of $150 collateral to $100 DAI. https://daistats.com/#/ . The $200m DAI minted from WBTC represents 0.02% of Bitcoin's market cap.
20.
by gh55 6y ago
The total being used as collateral can be seen here https://defipulse.com/defi-lending , and https://nexostatistics.com/loans/ . A small proportion of market cap, and these loans have low loan to value r
21.
by gh55 6y ago
At the moment DeFi loans are fully collateralized, with the loan to value ratio affecting the interest rate you pay. If your collateral drops in value you have to recollateralize the loan, or are liquidated.
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by gh55 6y ago
I suppose, with software eating the world, I want to believe we will collectively own and operate that software, rather than a particular company, that it will be open source, and if those who own it charge too much someone will fork it and
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by gh55 6y ago
Thanks, your understanding is better than mine. Its the national governments who would have to pay the incredible amounts of interest, and may fund that by selling the gold they own ( https://www.usfunds.com/investor-library&
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by gh55 6y ago
Your correct to say the debt would need to be legally recognised, before it could be sold on to a legally registered debt collector. Aave for example has a UK Electronic Money Institution license, you might need some legal entity to take pa
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by gh55 6y ago
> If the gold price crashed I'd be very interested. Imo central banks are in a tough spot now. They've issued huge amounts of bonds, and cannot raise interest rates. If inflation rises, they will be unable to raise rates - unle
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by gh55 6y ago
> The real problem in lending is to ensure that the borrower can afford the loan and uses the money on what he says he will. So the lender pays the money into a multisignature 2-of-3 wallet, gives 1 key to the borrower, and if when the b
27.
by gh55 6y ago
Putting supply chain on a blockchain isn't about verifying the authenticity of the goods. Its about being able to buy and sell the goods at any time, hedge out price risk, etc.
28.
by gh55 6y ago
Or perhaps you're trying to obtain goods and services commonly denoted in USD, but believe USD is depreciating against BTC so until purchase, sell your USD.