Crypto Theses for 2022 [pdf]
messari.io
messari.io
"Today there is still no scalable, decentralized, widely integrated protocol that moves value and data between blockchains without relying on trusted third parties."
There is absolutely nothing technical or interesting from an engineering perspective in this pdf, but if you want a summary of the crypto-VC-twitterVerse then you might find it entertaining.
- Top 10 crypto people to watch is mostly VCs, ok
- Links to some big claims are direct links to tweets
- "It’s inaccurate to call Tether a fraud."
- TIL: Balaji backed Worldcoin (Worldcoin is the retina-scaning dystopia Sam Altman crypto startup)
- They call OHM an unpegged stablecoin, but it's actually a ponzi: "However, judging by the number of forks it has spawned, OlympusDAO may be the year’s most important new project, and non-pegged stablecoins may be the best bet this industry has when it comes to de-pegging from the US dollar." Wow, let's see how that statement will age...
- Have I mentioned that Balaji is cool?
Actually, it's pretty entertaining to read.
Having raised large amounts of money for this, he then proceeded to deliver absolutely nothing except an outdated mining chip duct-taped to a Raspberry Pi, and then pivoted to... paying people to answer surveys?
Everyone in the cryptocurrency sphere thinks he is a genius and visionary.
Where did all that vaporized money go and why aren't there a dozen lawsuits on his back from angry, defrauded investors?
As someone who sorta accepts some parts of the crypto narrative and use it on a daily basis the chapter about NFTs just does not make sense to me. All these people high on play-to-earn games and buying non existant land in a game/virtual place that doesn't really yet exist. The world just isn't there yet, this is a classic overhype situation and will have to go through years of winter before maybe actually working.
Could you see virtual land being worth something in a world where the Ready Player One Oasis exists? Yes sure.. but we're so far from that and I think a lot of these finance guys don't understand the gaming/technical challenges to get there.
I view investing in these projects no differently than my TSLA positions. Over hyped for sure, but the potential upside is massive and I am unwilling to sit on the sidelines.
Right now I am active in a few communities and it’s been a lot of fun watching these games evolve on a near weekly basis. I relate it to Kickstarter but you actually own a part of the company.
I don't know why but just the choice of words here made me nauseous.
everything runs on centralized servers, where are the peers in these p2p networks?
https://twitter.com/dydxprotocol/status/1468293558360805381
Here is a "decentralised" exchange going down with aws
And yet they claim right on the front page "Decentralized"
Also L1 exchanges on Ethereum are arguably not decentralised. They delegate power to miners as a shortcut
you guys are up for rude awakening when this rube goldberg machine bricks
would like to point out that HN was also saying BTC was over valued at $1k.
Didn't listen to you guys then, not going to now either.
You're assuming too much.
The nice thing about the decentralised exchanges such as Uniswap or -dydx- is that you do not need their websites/ frontends because their smart contracts/ backend is available on the blockchain. Anybody can make a website that interacts with any smart contracts on the blockchain. There are even aggregator websites (e.g. https://app.defisaver.com/).
Do you know any website that aggregates the services of any TradFi banks and brokers?
Edit: Actually dydx is layer 2 now: https://dydx.exchange/blog/layer-1-wind-down
Backend/frontend? I thought this was a decentralized network. There should just be users with nodes. Backends point to clear points of failure from a disingenuous misleading project
Anyone can interact with a contract directly, you don't need any FE or BE at all.
I can't speak to the specifics of dydx since I am not a user and haven't done my due diligence on them, but with every other dex I have ever interacted with it is entirely possible to use their service entirely from the contract interface.
Its usually the first thing I do to ensure that I can access my funds without any external dependencies.
Check out dappradar for a more exhaustive list of the literal thousands of decentralized finance projects that are currently live.
You can interact with any of these directly from the contract interface itself.
why does it hard fork so much and make prior clients incompatible? why do they have a monetary policy? isn't that what fiat currency is?
btw is it archival node or what?
[1] https://ethresear.ch/t/proposer-block-builder-separation-fri...
e: a letter + source
The only reason people are interested in these "lucrative" alternatives is because our "decaying legacy institutions" have incentivised wealth. I've yet to read a compelling argument as to why making a bunch of nerds (like myself) rich is not just a continuation of capitalism. An alternative to capitalism is something that removes financial incentives from life.
Yes, crypto is a continuation of capitalism.
Open access and competition at every step is when capitalism is at its best. It tries to structurally avoid the emergent problem of institutional capture that we're all too familiar with in the US. Finance is probably the best example of institutional capture. So, I see the value of an alternate system.
It reminds me of the development of ML. ML has allowed statisticians, supply chain folks and industrial engineers to market themselves as AI people and implement much needed solutions that existed before the AI boom, but never had the clout or funding needed to push ot through.
Crypto is the Trojan horse. Inside are important traditional solutions whose only shortcoming was lack of a cool factor. So they've hopped on the crypto bandwagon to attract talent and resources needed to make these academic solutions a reality.
We as a society, have yet to figure out how to work around human greed and a need for status. Capitalism offers transparent and relatively productive ways of pursuing them.
I often talk about systems for persons and systems for people. Capitalism is a good system for people. Individual persons should find individual goals separate from the capitalistic system at large. If not capitalism, then what....is a common retort, but it makes sense.
Capitalism is the current of the river. While it incentivizes you to row downstream, you are also free to row where you see fit. Albeit with varying levels of difficulty.