xur17

52 ms·

661.
by xur17 5y ago
Typically folks require a governance vote (so multiple parties) + a timelocked contract, and then after some system age / volume they burn the option.
662.
by xur17 5y ago
What aspect of stablecoins makes them a bubble?
663.
by xur17 5y ago
They all do the same thing (peg to the dollar), but in different ways with different tradeoffs. That's the interesting part that you're completely missing. Some are more centralized than others. Some rely on governance more than o
664.
by xur17 5y ago
> My second thought: Would it be possible to create an app that would disable the texting function while driving? E.g. use the GPS functionality to detect when the phone is moving above a certain speed. Of course, the problem with this s
665.
by xur17 5y ago
Like USDC or GUSD?
666.
by xur17 5y ago
And GUSD https://www.gemini.com/dollar
667.
by xur17 5y ago
> A month-ish ago, some regulation changed where they could no longer hold crypto as an interest-free asset What does it mean to be an interest-free asset?
668.
by xur17 5y ago
> I think people are trying to use the idea that ethereum works differently than AWS, but that doesn't matter. The point is the owners or writers of that code wrote it and put it out to the world with intent or purpose to do money t
669.
by xur17 5y ago
> Focus directly on the entity doing the money transmission in this case- the smart contract IRON. They take in USDC and give out IRON and TITAN. IRON and TITAN are money substitutes. Money transmission includes anyone by any means condu
670.
by xur17 5y ago
Typically projects like this start with "training wheels" like this at launch, and gradually increase the timelock delay and / or move the control over to a dao to control.
671.
by xur17 5y ago
That's both a downside and an upside though - they do exactly what they say they will do. The issues occur when people don't realize exactly that they say they will do. To me it's just a different set of trade offs. Also, it&
672.
by xur17 5y ago
Isn't the problem that businesses are required to store this type of information (kyc verification information)? At what point are we going to have a logical system for verifying identity that doesn't require transferring the same
673.
by xur17 5y ago
> There is still no value over a trusted third party, keeping all this in a central database. These games you are talking about just agree on this third party and that's it. There is value - with a trusted third party, you are &quot
674.
by xur17 5y ago
To be clear, you're saying that you believe that every last cryptocurrency is a scam with no exclusions? To me it seems absurd that none are non-scams, and makes me think you're just making baseless claims.
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by xur17 5y ago
And I can respond to your "scam" claims: > Bitcoin: Uses the electricity of a country to process 2 transactions per second. Layer 2 solutions such as Lightning Network have some significant drawbacks which make them unpractical
676.
by xur17 5y ago
Venmo isn't instant in the same way that USDC is though. When a USDC transaction settles, I know the money is mine, when a venmo transfer settles, or an ach transfer settles, there is an opportunity for the money to be clawed back for
677.
by xur17 5y ago
I'm guessing the company size (~15) has a lot to do with it, but the 100% remote startup I am at has had a lot of success with onsites 2-3x / year.
678.
by xur17 5y ago
I think we're both in agreement that a blockchain is just a glorified database. That said, there are advantages to a blockchain over a database: With a database, you can only do what the county auditor (or equivalent) lets you do &#x2F
679.
by xur17 5y ago
> If the company in your example can be contacted to overturn ownership, essentially degenerating the immutability and irreversibility of the ledger to levels comparable of existing solutions, then what is the actual advantage of this no
680.
by xur17 5y ago
> Another example: Let's assume ownership of a house is defined by a blockchain. Through a mistake, ownership of your house has been transferred to someone else, or lost to an address with no existing private key. Alternatively, you
681.
by xur17 5y ago
Looking at the cpi doc [0], shelter makes up 32.86% of the expenditures, which at least at first glance appears realistic. There will obviously be outliers (people living in higher cost of living areas, cities, etc), but I'm curious if
682.
by xur17 5y ago
This does not show that the lightning network doesn't work. It shows that lightning has less locked value than Ethereum's layer 2. Incentivize yield farming is likely the cause. In terms of lightning being usable now, I've be
683.
by xur17 5y ago
What about this new law makes El Salvador a haven for money laundering? USD is typically used for that.
684.
by xur17 5y ago
> Even if Lightning worked (it doesn't) In what way doesn't it work?
685.
by xur17 5y ago
For proof of stake, I agree - I think it's useful to instead focus on net issuance. For ETH2 this could very well could be negative since the base transaction fee will be burned, and transaction fees currently are greater than miner re
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by xur17 5y ago
Yes it does. Proof of stake networks (Ethereum, Tezos, etc) pay dividends + transaction fees to stakers, decentralized exchanges pay a cut of fees to token holders (with decent P/E ratios), and the list goes on. This is an out of date
687.
by xur17 5y ago
I agree. Part of me is kind of excited to see something like this built - the parts that scare me are: 1. The kind of data collection that this will enable (random tv can send data back to the manufacturer even if you never connect it to th
688.
by xur17 5y ago
You don't have to form a business entity. You can file as a sole proprietorship, which just means filling out a schedule c. There are some rules that you have to meet to qualify, but besides that it's just another form you fill ou
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by xur17 5y ago
Yup. If you're mining, and it fits the definition of a "business" instead of a hobby (google for more details - there are rules around what qualifies), you don't have to actually set anything up. You just file a schedule
690.
by xur17 5y ago
Is this actually going to help with that though? It sounds like this is just going to force exchanges and businesses to report transfers that are >= $10k to the federal government. In some ways this might make it worse since the federal

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