rawtxapp

59 ms·

631.
by rawtxapp 6y ago
@ecommerceguy, for protecting my wealth against dilution by endless money printing, stimulus and bailouts of broken companies/banks. I strongly believe that the current financial system is completely broken, so I'd like to opt out
632.
by rawtxapp 6y ago
If you think this creates a financial system that's much more transparent and solid than the current one which is completely broken, than that energy usage is worth it. Also you shouldn't look at it in terms of energy/transac
633.
by rawtxapp 6y ago
While you might disagree with that, Bitcoin is useful.
634.
by rawtxapp 6y ago
The whole point of lightning network is to be p2p, so you're not supposed to know how big it is or how often it's used.
635.
by rawtxapp 6y ago
Just because you are speculating doesn't mean other who also hold it are speculating. Personally, I hold it because I don't want my dollars to get perpetually diluted because of endless money printing, stimulus, bailouts, etc. Als
636.
by rawtxapp 6y ago
While you might believe that, the market disagrees with you.
637.
by rawtxapp 6y ago
Most of it is renewable energy. edit: 39% of it, as in a lot of it and that number should go up as the world is phasing out dirty energy for cleaner energy sources.
638.
by rawtxapp 6y ago
But you're also not counting all the people, buildings, surrounding systems needed to make the VISA network work.
639.
by rawtxapp 6y ago
Being able to store their wealth without being affected by the endless money printing is the benefit.
640.
by rawtxapp 6y ago
Why are they wrong?
641.
by rawtxapp 6y ago
There's no schedule, the stability fee compounds every block (every 15 seconds), you can borrow money whenever you want, pay it back whenever you want. If your colleteral's value has increased so much that it's above the mini
642.
by rawtxapp 6y ago
If you find opportunities for arbitrage that return you well above 10%, then it's a drop in the bucket.
643.
by rawtxapp 6y ago
It's an overcollaterized position, so you have to put at least 150% of the money you're trying to borrow. Now you might ask, if I already all that money, why the hell am I borrowing it? Because your asset is going to appreciate
644.
by rawtxapp 6y ago
Learning about flash loans and how they settle in the same transaction that they originated in really made the idea of the lego bricks click for me, it was like a light bulb moment.
645.
by rawtxapp 6y ago
100% agree, right now it's like 80$ for a uniswap exchange, 200$ to open a maker vault, 100$ to transfer tokens, etc. I'm really looking forward to eth2 which will hopefully land without too much issues or delays.
646.
by rawtxapp 6y ago
Ethereum seems to have the best network effects, developer community and actual capital running on it. If eth2 succeeds, it would probably be the winner, but there are lots of challengers, like polkadot. You might get yourself some BTC (a
647.
by rawtxapp 6y ago
It would take quite a bit time, but with enough dedication, it's not that difficult. The books: Mastering Bitcoin and Mastering Ethereum (although ethereum one is a bit outdated now) cover a lot of it pretty nicely and you can find the
648.
by rawtxapp 6y ago
I've been in crypto since 2014 and was here for 2017 when all ICOs that did absolutely nothing were being pumped and dumped, so I wrote off ether for a few years until defi kept creeping up in my news couple times. I think there's
649.
by rawtxapp 6y ago
In many ways, the future is here, there are billions of dollars locked in these defi projects, I'd say now it's more about adoption and user education.
650.
by rawtxapp 6y ago
The interface to use MakerDAO (one of the defi projects mentioned) is a lot more straightforward than any bank I've ever used or had to deal with. Sure there are more complicated defi projects, but over time: a) they get more user-frie
651.
by rawtxapp 6y ago
MakerDAO (aka oasis, dai system) is one of the coolest software project I've ever used, highly recommend anyone checking it out. It's essentially a system of smart contracts and surrounding system which create a stablecoin pegged
652.
by rawtxapp 6y ago
Yet their stock was up today.