intotheabyss

14 ms·

91.
by intotheabyss 6y ago
Because you trade and automate assets through contract logic. The benefits of contract composability on Ethereum mean that the velocity of money increases because now assets can be manipulated by logic without an intermediary. So if someone
92.
by intotheabyss 6y ago
You can scale Ethereum by running computations off-chain and submitting batches of zero knowledge proofs on-chain. StarkWare https://starkware.co/ is the leading layer 2 for zk proofs. There are also other platforms that us
93.
by intotheabyss 6y ago
Have you ever heard of OpenLaw? https://www.openlaw.io/ Court systems, even traditional ones, can interact with Ethereum. At the end of the day, Ethereum is just a ledger. We humans are the ones that enforce laws and social
94.
by intotheabyss 6y ago
Just take Uniswap for example. Now imagine that every asset on the planet could be represented by a fungible or non-fungible token. You can put a Uniswap plugin into any browser and you now have a universal way to swap between any assets yo
95.
by intotheabyss 6y ago
On Ethereum you can break the chain by using Tornado Cash which uses zero knowledge proofs with a secret, anonymity sets and time to make it impossible to trace a link.
96.
by intotheabyss 6y ago
The Visa news was not relevant to Bitcoin, as the news is about Visa settling payments using USDC on Ethereum.
97.
by intotheabyss 6y ago
Even if it forked, that would be working as intended. Anyone can fork Ethereum, but there's currently billions locked in staking on the Beacon Chain, so there's at least a large segment of the community that will support PoS, so t
98.
by intotheabyss 6y ago
a) Which just further proves my point that you shouldn't lump NFTs with Bitcoin. In practice however, all of the valuable NFTs are on Ethereum (afterall, NFTs are only as valuable as their underlying security) b) Not sure what your poi
99.
by intotheabyss 6y ago
In proof of stake, you can slash validators that attempt to re-org the mem pool for MEV. Fast finality of a few seconds also helps.
100.
by intotheabyss 6y ago
Very disingenuous to include NFTs in the same category as Bitcoin. NFTs live on Ethereum which is in the process of changing its consensus from Proof of Work to Proof of Stake.
101.
by intotheabyss 6y ago
Payment networks are being built on Ethereum that will allow much more than just sending / receiving in a peer to peer decentralized way at low cost https://starkware.co/ https://optimism.io/ https:&#
102.
by intotheabyss 6y ago
Just a small point, Ethereum uses an account based system, not UTXOs. Also, NFTs are built on the ERC721 standard, which is a contract standard that allows composability between different NFTs and contracts.
103.
by intotheabyss 6y ago
Ethereum is moving to proof of stake, so this whole carbon footprint concern is going to go away.
104.
by intotheabyss 6y ago
Considering NFTs are on Ethereum: soon to be insignificant, since Ethereum is already running the Beacon Chain (proof of stake network) and the merge from Eth 1 to Eth 2 will occur sometime later this year.
105.
by intotheabyss 6y ago
I take it you've never heard of Maker? You can audit the supply of DAI and the ETH backing it in real time.
106.
by intotheabyss 6y ago
A big part of this is that urban planning in the US is suburb centric which is devastating not only for the environment, but also for the economy. City centers have higher density and more tax dollars and they subsidize the infrastructure o
107.
by intotheabyss 6y ago
Did Musk dump a bunch of Doge on people? I think that's the big difference.
108.
by intotheabyss 6y ago
Exactly
109.
by intotheabyss 6y ago
This is BSC we're talking about here. All Binance needs to do is blacklist those funds, after-all, they control the consensus of their network.
110.
by intotheabyss 6y ago
The bitcoin community would be wrong.
111.
by intotheabyss 6y ago
Casper and LMD GHOST (which is what Eth2 uses) is one of the most mature proof of stake consensus algorithms out there. The other is Tendermint, but that's a practical BFT algorithm, so limited to 100-300 validating nodes, whereas ETH2
112.
by intotheabyss 6y ago
Then more people will just use decentralized finance.
113.
by intotheabyss 6y ago
DAI is very cool. If you want to really blow your mind, check out RAI: https://stats.reflexer.finance/
114.
by intotheabyss 6y ago
They also recently had network issues for three days
115.
by intotheabyss 6y ago
Because to change Bitcoin means to fork Bitcoin, and 2017 has shown that the community does not want to hard fork to update the consensus of the chain. A bigger question is how will Bitcoin deal with securing the chain once miners rely prim
116.
by intotheabyss 6y ago
Decentralized finance
117.
by intotheabyss 6y ago
So you used a language years ago when it was in its infancy. Have you used it recently?
118.
by intotheabyss 6y ago
The big difference here is that holding GME isn't like holding BTC. Sure, many people say BTC is a scam or that it'll crash and burn, but holding through dips with BTC has historically been the correct move. I highly doubt holding
119.
by intotheabyss 6y ago
In other words, people continue to conflate money and credit.
120.
by intotheabyss 6y ago
Nice, pure cryptography at its finest.

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