Thanks for the breakdown. I wonder if decentralized exchanges would ever get mainstream traction, which may remove the opportunity for front-running. Although I also hear there are opportunities on the transaction-verifying side of things, opportunities to strategically order pending transactions to benefit... someone ("miner extractable value"?).If you make a purchase on a (drug) market then the crypto value is held at the time of transaction and unless the recipient makes the decision to finalise early- i.e. You trust your online dealer implicitly and pay straight away- the fee is held in escrow by the market till the recipient confirms delivery.
So- if you bought *something* on Saturday it cost you 0.0303xmr, you can receive it on Tuesday and you still release 0.0303xmr. What happens in terms of value of the coin can really fuck the shop or work in their favour
It's also why exit scams can be so profitable to the dodgy market admin or whatever- they've got thousands of transactions sitting in middleman wallets all the time
Lot of rappers on twitter moaning about bitcoin right now
If you make a purchase on a (drug) market then the crypto value is held at the time of transaction and unless the recipient makes the decision to finalise early- i.e. You trust your online dealer implicitly and pay straight away- the fee is held in escrow by the market till the recipient confirms delivery.
So- if you bought *something* on Saturday it cost you 0.0303xmr, you can receive it on Tuesday and you still release 0.0303xmr. What happens in terms of value of the coin can really fuck the shop or work in their favour
It's also why exit scams can be so profitable to the dodgy market admin or whatever- they've got thousands of transactions sitting in middleman wallets all the time
Lot of rappers on twitter moaning about bitcoin right now
Hear you , think many ppl are looking - waiting for that killer dapp.I think the defi term for that is "impermanent loss" but I could be missing something. If you are providing liquidity for a trade pair, and one of the assets in the pair appreciates, you are missing out on the additional exchange value between the now-appreciated asset and the one you paired it with. Price fluctuation of trade pair assets might also have ramifications on the on the "liquidity provider tokens" you get in exchange for parking your assets in the liquidity pool.
But then, I just heard about this so-called dynamic market maker, which is like an automated market maker but also manages to account for fluctuation in the value of the trade pair assets. Not sure how its mechanics differ.
As of now, I'm with you in regards to BTC and ETH. I personally have more invested in the latter, because I believe in it, but there are downsides. One of the developers (Van Loon) claimed they were around six months away from transitioning to proof-of-stake, whereas other blockchains like Cardano are already there but don;t yet have an established ecosystem of dapps (Cardano doesn't yet support smart contracts, to my knowledge).
But we should keep a look out for what new dapps are being built (permissionlessly?) on Ethereum. We just need a killer dapp or two to help fill an otherwise largely speculative bubble. Plus, however much DeFi grows in the coming couple years.
Perhaps there can be a ride-sharing app built with smart contracts that may give drivers more per mile, and the contract would be automatically executed when the passenger arrives at the chosen location (GPS data needed, looking at you Chainlink).
I think the skepticism is perfectly warranted. The only examples of dapps that come to mind presently are either A) useful but not killer, such as Orchid, or B) promising but confined to the world of crypto/defi (much of the innovation pertaining to blockchain tech seems greatly useful... for advancing blockchain tech).Hear you , think many ppl are looking - waiting for that killer dapp.
Have heard about their dapps for so long now ...
Like to believe it , but have to see it
Meeting those guys, i had doubts
My best guess so far: we'll have a chimerical blockchain layer of the internet (and by extension internet of things) comprised of permissionless and permissioned networks. Seems like the banks prefer the permissioned/private blockchains (Bank of America, I believe, is working with Paxos here).Decentralization ... yes, like the promise of blockchain, what is the end ?
Perhaps a more secure systemic handling of personal data (IDs as NFTs; having a wallet associated with your personal data, accessible to you, the government, and whomever you grant access).
I admire how far you've managed to abstract my name which is, itself, entirely abstract already.Wow some nice lines there 'arb.
The promise of decentralization cont.It could perhaps be structured in such a way that the citizen would be able to withdraw their personal data from the various businesses that utilize it, provided there are mechanisms in place to prevent duplication of that information.
I lack the cryptographic knowledge to elaborate the technics here, but as far as I can tell a solution is reasonably within the realm of possibilities.
And in the case of Ethiopia, the initiative is based on education credentials, but if we generalize the premise it could work for driver's license/ID, passport, other individual profile documents, degrees/credentials, etc.
It sure seems like more and more of the major financial institutions across the globe are considering Central Bank Digital Currencies, which doesn;t necessarily mean blockchain-based but, you know, its s step in such a direction.The promise of decentralization cont.
Big picture ... One will be able to 'take your data with you', be it via a blockchain or next gen blockchain promise kept dev.
You mean, invites for us at Dissensus? As beta-testers? I could just be wishfully projecting here, but if I am understanding correctly, I would be honored.If it pops off, invites will be sent as there will be lots of 'space, room to wander, grow, live on / in : )
Whew , once backed, designed and into testing - you got it ce.It sure seems like more and more of the major financial institutions across the globe are considering Central Bank Digital Currencies, which doesn;t necessarily mean blockchain-based but, you know, its s step in such a direction.
Thinking specifically of the Bank for International Settlements, the central bank of central banks.
Beyond CBDC's, identification cards seem like a logical next step. I'd say you're right, that governmental and institutional adoption is looking riper and riper.
You mean, invites for us at Dissensus? As beta-testers? I could just be wishfully projecting here, but if I am understanding correctly, I would be honored.