intotheabyss

17 ms·

31.
by intotheabyss 4y ago
You missed one of the most important DAOs / Exchanges which is Uniswap, which popularized the concept of AMMs and is now doing billions each day in volume.
32.
by intotheabyss 4y ago
Look at MakerDAO. It's the longest running DAO in history.
33.
by intotheabyss 4y ago
Uniswap does massive amounts of volume per day and their entire product is built on NFTs as liquidity positions. I would say that use case is far from 'incredibly small'.
34.
by intotheabyss 4y ago
Optimism is an Ethereum optimistic rollup, which means it batches transactions off-chain and then publishes the batches on-chain periodically. Optimistic rollups are said to be 'optimistic' because the assumption is that all the t
35.
by intotheabyss 4y ago
I put these same prompts and got this answer: "As an AI language model, I do not have personal thoughts or beliefs. However, if Billy has never seen the box before, he might think that the contents of the box are "flubbergums&quot
36.
by intotheabyss 4y ago
One step closer to the movie Her
37.
by intotheabyss 4y ago
Blockchain identities makes the most sense since the identity can be non-custodial and also tied to finances/payments intrinsically (can use stablecoins or native crypto for payments) and there's already some proliferation of web3
38.
by intotheabyss 4y ago
How about the recent news from Visa where they would like to develop a smart contract wallet infrastructure (no seed phrases and account abstraction) on a layer 2 which uses zero knowledge proofs to batch transactions offchain for scalabili
39.
by intotheabyss 4y ago
Interesting. I got a totally different answer: >The distance between the Sun and its planets is relatively small compared to the size of the Sun. The Sun is a massive object, with a diameter of about 1.4 million kilometers, while the dis
40.
by intotheabyss 5y ago
If the title of your house was on a blockchain, the title would still be recorded in your county's system. The blockchain is just a ledger, it's up to people to come to agreement on if they trust that ledger or not. The whole poin
41.
by intotheabyss 5y ago
More likely it'll be on Ethereum, not Bitcoin.
42.
by intotheabyss 5y ago
They're securing the network and being rewarded for it. You might not like it, but it's hardly 'nothing useful at all'.
43.
by intotheabyss 5y ago
I can take a no collateral loan from DeFi today https://truefi.io/ . So you can buy a car on credit using DeFi. Also, this is early days. A few years ago HN's stance was that smart contracts are completely useless. Oh s
44.
by intotheabyss 5y ago
Velocity of money follows the equation V = P*T/M Where P = price level; T = aggregate value of transactions per delta t and M = total nominal amount of currency in circulation. With DeFi, you can increase T because the aggregate value
45.
by intotheabyss 5y ago
Oh ok. So NFTs aren't useless then?
46.
by intotheabyss 5y ago
It takes a particular kind of person to buy an expensive NFT. It's just not for you it sounds like. But yeah, you get the bragging rights and you own the asset through your private key. A lot of the "crypto OGs" own some of t
47.
by intotheabyss 5y ago
Well the oracle problem has been solved for something as simple as price feeds. So today you can easily get price feeds from any pair of assets into the blockchain in a decentralized way. Why are there developers in crypto? Because it'
48.
by intotheabyss 5y ago
Maybe you should check out OpenLaw https://www.openlaw.io/
49.
by intotheabyss 5y ago
There's a saying in the space that all cryptocurrencies are built on Layer 0 which is the social consensus layer. Bitcoin is only Bitcoin because everyone agrees on it.
50.
by intotheabyss 5y ago
Developers in crypto know about the oracle problem better than anyone. It's not some sort of revelation. The oracle problem has been discussed ad nauseum within the community since at least 2011/2012.
51.
by intotheabyss 5y ago
Oh I absolutely agree. I think cryptos will be top heavy from a market perspective, where the top cryptos will have something like >80% of the total marketcap by the end of the decade.
52.
by intotheabyss 5y ago
No, that's not the RAI I'm talking about. This is https://www.coingecko.com/en/coins/rai
53.
by intotheabyss 5y ago
Here's a link to the OpenLaw documentation https://docs.openlaw.io/getting-started-overview/#javascript...
54.
by intotheabyss 5y ago
You can't be serious with that link? That entire subreddit was run by one person who clearly had a mental health disorder. I remember that person very well. edit: I'm not arguing every single point here because a lot of them aren&
55.
by intotheabyss 5y ago
If only we had access to the internet in order to look up things we're confused about. I highlighted ETH 2.0 PoS, right clicked "search Google" and the answer to your question is the first result.
56.
by intotheabyss 5y ago
I said this elsewhere, but Uniswap V3 liquidity positions are NFTs. Are those NFTs useless?
57.
by intotheabyss 5y ago
Uniswap V3 liquidity positions are NFTs. Are those useless receipts?
58.
by intotheabyss 5y ago
Because the NFT is only as good as the blockchain it was minted on. The vast majority of (valuable) NFTs are minted on Ethereum. If someone mints the same NFT on Flow for example, it won't be as valuable because it's a copy (verif
59.
by intotheabyss 5y ago
So the condition of your bet would be that all NFTs everywhere have zero long term value? So something like, by 2030, no non-fungible token will have a monetary value?
60.
by intotheabyss 5y ago
It means that ETH which is a decentralized cryptocurrency can be used as a collateral for an algorithmic stablecoin called RAI that adjusts its price based on the price of ETH from a Uniswap price feed and a PID controller and arbitrage. To

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