only_human

4 ms·

1.
by only_human 4y ago
>Each one of your posts has exponentially more tangents Is this not what you were asking for though? I'm addressing all the concerns about these random web3 and defi projects, yes they're tangents but so is the whole conversati
2.
by only_human 4y ago
>MakerDAO has no ability to block individual holders' DAI tokens. ENS DAO and ENS root multisig owners have no way to revoke your registered ENS .eth name address or take control of its records. Nope, they actually can do all of thi
3.
by only_human 4y ago
>they can now hold a USD pegged asset non custodially Nope, this is wrong. Any stablecoin is necessarily centralized in order to maintain the peg, in the case of DAI it has a "custodian" in the form of MakerDAO. Look it up, thi
4.
by only_human 4y ago
>I think you misunderstand DAI. Saying the point of DAI is to accumulate crypto is like saying the point of a car is to accumulate oil. No, I understand it perfectly. The only purpose of stablecoins is to provide liquidity in the crypto
5.
by only_human 4y ago
No, gold actually has a real demand derived from legitimate commercial uses. If it didn't, and the only reason you were buying it was to try and dump it off on other investors for a profit, then it would have the properties of a Ponzi.
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by only_human 4y ago
>Just like cash whoever picks it up is there new owner & police can't do anything about it except for locking him in jail. I hear people saying this, the problem with this thinking is that there is no actual reason for a digital
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by only_human 4y ago
If you figured out all those variables, they would have to be legally enforced by a legal authority -- meaning there wouldn't be a purpose to use an NFT as a "blockchain authority" anymore. They're fundamentally useless.
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by only_human 4y ago
>On the surface, that's pretty dumb and it's history has entirely fraudulent roots. This is again a conspiracy theory typically promoted by adherents of the long discredited pseudoscience known as Austrian Economics. Don't
9.
by only_human 4y ago
>which is peer-to-peer, permissionless, censorship resistant, borderless, neutral and open All of this is false. Every word of it. If that's what you heard from an MIT course then what that professor is doing is shameful. Here, let&
10.
by only_human 4y ago
Yes, that's my point. Crypto doesn't change anything. It's just more of the same. And FYI there is nothing wrong with fractional reserve banking when it's done in the right way with some mechanism (like regulation) to st
11.
by only_human 4y ago
I disagree with the comment you're responding to. Please be more aggressive about dismissing crypto and blockchains as a fraud. It's actually shameful how reluctant some engineers are to do this. This isn't just about using t
12.
by only_human 4y ago
>I thought that was obvious, apologies: anonymous payments. That isn't a legitimate use case. Cash is still largely superior at anonymous transactions, and it always will be because every crypto transaction inherently leaves a rathe
13.
by only_human 4y ago
Those defi projects don't require much to dismantle. The entire point of them is to accumulate more crypto. That's it. And since crypto is useless, they also serve no useful purpose. The only exception you mentioned is ENS, but th
14.
by only_human 4y ago
You can just mint your own token and then lie to people about how much bitcoin/dollars/euros/pesos/whatever is backing it, or not disclose it at all, which is exactly what they already do. At least central banks require
15.
by only_human 4y ago
Software developers should universally reject payment in crypto, but especially monero. I know I would if you tried to pay me with that. It's the same situation as tornado cash. By using it you're providing cover for north korea a
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by only_human 4y ago
No, that paragraph is correct. You may be either missing some context or using a different definition of blockchain that doesn't apply to crypto and web3. All the selling points that crypto people have said about blockchains are comple
17.
by only_human 4y ago
Bitcoins and blockchains aren't giving anyone a chance to create a new financial system. It's the same system. Ever notice how the goal of every prominent crypto company is to just accumulate real hard dollars, not crypto? You sti
18.
by only_human 4y ago
There is absolutely nothing to stop fractional reserve banking from re-occurring in crypto. In fact it's already happening on a massive scale with stablecoins, which are pretty much doing all the same things as banks, but even less re