zeroclip

17 ms·

151.
by zeroclip 4y ago
> This of course circularily means that the value is almost entirely based on speculation. Most markets are primarily based on speculation: equities, real estate, art, VC. > you are at the mercy of a small range of individuals who eit
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by zeroclip 4y ago
Not even just trading platforms but also major payment processors: https://help.venmo.com/hc/en-us/articles/235171088-Cancel-Pa...
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by zeroclip 4y ago
Security is strongly correlated with issuance i.e. supply growth. If miners must spend X amount of value to compute hashes and secure the network, and the issuance or protocol reward is not sufficient to justify this spending, the security
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by zeroclip 4y ago
Compare PoS and PoW here, +2800 ETH vs +51,500 ETH. https://ultrasound.money/ Supply growth is not a bad thing for a crypto currency. Ideally the protocol rewards participants enough to incentivize them to secure the networ
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by zeroclip 4y ago
> In real life people use hosted wallets on exchange platform. The parent mentions DEX volume, which tracks on-chain wallet usage, not what is being traded in a CEX. > Real-world transactions need to be reversible, need escrow, guaran
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by zeroclip 4y ago
> With Ethereum, Cardano, Solana, etc, your value is in the hands of where the developers choose to take the protocols. They can and have changed their monetary policies, and they will again. The consensus mechanism has nothing to do wit
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by zeroclip 4y ago
This post was from before the merge to proof of stake.
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by zeroclip 4y ago
The title might be misleading to those not well versed with how block production works. > [flashbots] is not, strictly speaking, a necessary component of the block production process. The centralised Flashbots relay entity does not direc
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by zeroclip 4y ago
This is not a “game” any more than beanie babies or tomagachi is a game. These are digital collectibles, and digital pets. If you’d like to see a “blockchain game” that is succeeding and not dependent on simple buy/sell token mechanics
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by zeroclip 4y ago
The flash loan trade was a wash trade, obviously “fake.” Other wash trades are also - very often - obvious because the blockchain is transparent and easily analizable.
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by zeroclip 4y ago
Commenter said "there's no way to distinguish fake wash trades from real ones" and I showed a case where a wash trade was, to anybody looking at it, very obviously fake. I agree with the other part of the comment. Blockchains
162.
by zeroclip 4y ago
> there's no way to distinguish fake wash trades from real ones Ah, like that $532M Punk wash trade that was clearly visible on-chain?[1] I guess we'll never know if it was real or fake. [1] https://decrypt.co/8
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by zeroclip 4y ago
This is not a shining example of the security of credit cards, but an example of how insecure they are. We regularly carry passwords into our bank accounts in our pockets, and punch them into random ATM machines on the street in a foreign c
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by zeroclip 4y ago
I concede with this and your earlier point, you don't need a blockchain to build a new banking system. The current banking system is evidence of that: there is no blockchain needed when you ask your bank sends your funds to another b
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by zeroclip 4y ago
> If you play Spiral Knights or Half Life on Steam, you get a hat in Team Fortress 2 A centralized MySQL database is not a "public ledger" in the same way that a decentralized blockchain is considered a "public ledger.&quo
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by zeroclip 4y ago
In addition to the APY described by sibling comment, validators can also run MEV-Boost to increase their APY: > You should run mev-boost to earn a fair share of the MEV extracted in the blocks you propose. Connecting your consensus clien
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by zeroclip 4y ago
If your landlord decides to accept crypto, sure you could.
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by zeroclip 4y ago
There are reasons to use crypto aside from a domestic interbank dollar transfer: trading a digital asset, registering something on a globally shared ledger, international transfers or transfers to non-bank accounts, anonymous cash-like digi
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by zeroclip 4y ago
Fiat transactions often carry fees. If you buy a product online or receive revenue from e-commerce the fees are around 2-5% + 50 cents. Crypto is probably not going to beat domestic interbank dollar transfers for small amounts, these transa
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by zeroclip 4y ago
ETH addresses are the hash of a public key, similar to how .onion works. The goal of Unstoppable Domains is to tie human-readable aliases to these public keys.
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by zeroclip 4y ago
We are entering a recursive loop, because I’ve already responded to that. :)
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by zeroclip 4y ago
In Ethereum's proof of stake model, validators do not control the rules and cannot force a change in the protocol. People choose to run nodes, these nodes may or may not be validator nodes, and this software is what enforces the protoc
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by zeroclip 4y ago
Same reason people will host and run services around IPFS, BitTorrent, Tor, Matrix, Mastodon, game rooms, and other servers even though they don't get a financial reward, and even though it may even cost them money or their time. They
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by zeroclip 4y ago
Smart contracts can add rollback and revert functions but it won't save them from an exploited code path. At that point the only way to 'revert' exploited funds is rolling back the entire blockchain by creating a new fork. Th
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by zeroclip 4y ago
There's two specific attributes that are unique to IPFS. 1 - A content addressable URI protocol that allows you to locate a file without linking to a singly-owned and named server or host. This is not the case with HTTPS URL protocol.
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by zeroclip 4y ago
What are you even trying to say? The rules of a blockchain protocol are not immutable, they can and often do change. Users decide to follow the new rules, or they decide not to. The 2016 fork showed that the majority of users and the market
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by zeroclip 4y ago
If a user stops paying for hosting, and they are not hosting and pinning it themselves locally, they can't expect the file to persist indefinitely on the web. Hosting is not free. But if another party is interested in the file, they
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by zeroclip 4y ago
You are confusing "running a node" with "running a validator." You can run a node for free, without any staked ETH. If you want to participate in the protocol rewards, then yes you will have to do some work to receive th
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by zeroclip 4y ago
If your centralized X.png URL is changed, or the website goes down, or the host goes down, then the URL is dead, and so is everything that points to it. Even if somebody has the asset backed up locally or in their cache, they will have to r
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by zeroclip 4y ago
That’s kinda the whole point. A couple of centralized gateways can be the main hosts, like Protocol Labs and Cloudflare, and provide the best performance, and also compete with each other on the same content hash. If one or both of them goe

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