COINBASE for Crypto has come
Clinamenic
Binary & Tweed
Bull markets back, lets see if we get even higher this time. Total crypto market cap is a little short of $2 trillion, and last time it peaked at around $2.5T
The crypto/infrastructure legislation did not seem to effect things in the way one may have expected it to. From what I gather, it's not that big a deal. Miners and stakers being treated like brokers for taxation purposes, hardly seems accurate. I could be misunderstanding something though.
The crypto/infrastructure legislation did not seem to effect things in the way one may have expected it to. From what I gather, it's not that big a deal. Miners and stakers being treated like brokers for taxation purposes, hardly seems accurate. I could be misunderstanding something though.
Clinamenic
Binary & Tweed
Reportedly Ted Cruz is an outspoken advocate of informed crypto policy, with users on reddit arguing that its because he has a "fat bag" himself.
Not at all, it's the world being remade.
Clinamenic
Binary & Tweed
Yeah its probably the world development that I find most interesting right now.
Clinamenic
Binary & Tweed
wild greens
Well-known member
Lovely stuff all this. You start fucking with all this internet gear properly and there's always a coder better than you.
It looks a lot like a dark market exit scam to me, i agree.
It looks a lot like a dark market exit scam to me, i agree.
Clinamenic
Binary & Tweed
Sergey Nazarov's off to a great start on this keynote at the smart contract convention:
Regarding the history of bank notes since 12th century China, how our global financial system is based on trusting people/institutions to do things they may not do, in good faith or bad faith, and how the "cryptographic truth" provided by blockchain tech radically negates our system's dependency on such trust.
"That doesn't need to be the way the world works. The world can now work in a much better way."
I'm a couple lessons into this free Solidity course, one of the primary languages for smart contracts. No experience with programming before, but I'm starting to get an intuition for this language.
Extremely excited to witness, and perhaps even participate in, the development of this technology.
edit: correcting the spelling of Sergey
Regarding the history of bank notes since 12th century China, how our global financial system is based on trusting people/institutions to do things they may not do, in good faith or bad faith, and how the "cryptographic truth" provided by blockchain tech radically negates our system's dependency on such trust.
"That doesn't need to be the way the world works. The world can now work in a much better way."
I'm a couple lessons into this free Solidity course, one of the primary languages for smart contracts. No experience with programming before, but I'm starting to get an intuition for this language.
Extremely excited to witness, and perhaps even participate in, the development of this technology.
edit: correcting the spelling of Sergey
Clinamenic
Binary & Tweed
Which isn't to say that the world's financial system will be made perfectly trustless, but just much, much closer to being trustless.
We would largely be shifting our trust from institutions to data, and to some extent the parties that administer the hardware collecting/producing that data. I say "to some extent" because much of this data will be publicly available and auditable on a/several blockchain(s).
We would largely be shifting our trust from institutions to data, and to some extent the parties that administer the hardware collecting/producing that data. I say "to some extent" because much of this data will be publicly available and auditable on a/several blockchain(s).
Clinamenic
Binary & Tweed
I do get the sense here that we may still be a decade or longer away from smart contracts being fully appreciated by institutions. I know some of the more technically progressive firms and companies have "disruptive technology" task forces and the like, but it sure seems like smart contracts should be making way bigger waves than they currently are.
They touch upon virtually every aspect of trust in society, as far as I can tell.
They touch upon virtually every aspect of trust in society, as far as I can tell.
Clinamenic
Binary & Tweed
"Thats the world of paper promises, and everybody has been living in the world of paper promises for so long, that that is just the way the world is."
Clinamenic
Binary & Tweed
One of those situations where a totality itself is being overhauled, so it is difficult really to appreciate how things will be different.
Clinamenic
Binary & Tweed
"Finally there is an alternative to the "just trust us" model."
Of course, unless you have the literacy to audit the code yourself, you will still need to trust the code, or at least trust those who trust the code. But that is a much easier thing to trust than our present financial institutions, barring the innate distrust of technology some people feel, a distrust I expect to wax dramatically over the next couple decades.
But still, the fact that the code is there to be audited ought to inspire substantial trust in people, provided they aren't afraid of rapid technological growth.
Of course, unless you have the literacy to audit the code yourself, you will still need to trust the code, or at least trust those who trust the code. But that is a much easier thing to trust than our present financial institutions, barring the innate distrust of technology some people feel, a distrust I expect to wax dramatically over the next couple decades.
But still, the fact that the code is there to be audited ought to inspire substantial trust in people, provided they aren't afraid of rapid technological growth.
Clinamenic
Binary & Tweed
This keynote is lit.
Clinamenic
Binary & Tweed
"As long as physics and encryption and math works as expected, which is probably the best guarantee you're gonna get in this world, you're gonna get what you expect, from the financial system, from an insurance product, from a gaming system, from an ad network, from whatever."
Clinamenic
Binary & Tweed
Vitalik had a great quote about what blockchains and smart contracts are doing
"Whereas most technologies tend to automate workers on the periphery doing menial tasks, blockchains automate away the center. Instead of putting the taxi driver out of a job, blockchain puts Uber out of a job and lets the taxi drivers work with the customer directly."
"Whereas most technologies tend to automate workers on the periphery doing menial tasks, blockchains automate away the center. Instead of putting the taxi driver out of a job, blockchain puts Uber out of a job and lets the taxi drivers work with the customer directly."
Clinamenic
Binary & Tweed
"Smart contracts" is a terrible term. Misleading.
What other tokens use it?
Hear a lot of grumbling about cardano and Haskell, but don't know why
Might look into solidity. Cheers.
What other tokens use it?
Hear a lot of grumbling about cardano and Haskell, but don't know why
Clinamenic
Binary & Tweed
I mean its accurate insofar as "smart" is just casual-talk for automated-to-this-or-that-extent.
To my knowledge, Cardano just moved past their testnet phase of smart contract implementation, Alonzo, and has actually launched, or is at least in the process of launching, smart contracts on the mainnet/Cardano. I could be off though.
Running joke in r/crypto is that Cardano is perennially on the cusp of launching smart contracts.
Aside from that, pretty sure Algorand already has smart contracts, in addition to what seems to be a sophisticated PoS mechanism.
I've heard that Harmony does as well, but I know nothing about Harmony.
Also maybe Solana, seeing as Solana seems to be aiming to be a player in DeFi, which seems to be the biggest use case of smart contracts currently. Ethereum is still the goliath in DeFi, and that doesn't seem to be changing any time soon, especially as we get closer to PoS Ethereum.
The wikipedia page for Solidity, the smart contract programming language, says that it is compatible with Hedera Hashgraph, so perhaps Hedera has smart contracts as well.
To my knowledge, Cardano just moved past their testnet phase of smart contract implementation, Alonzo, and has actually launched, or is at least in the process of launching, smart contracts on the mainnet/Cardano. I could be off though.
Running joke in r/crypto is that Cardano is perennially on the cusp of launching smart contracts.
Aside from that, pretty sure Algorand already has smart contracts, in addition to what seems to be a sophisticated PoS mechanism.
I've heard that Harmony does as well, but I know nothing about Harmony.
Also maybe Solana, seeing as Solana seems to be aiming to be a player in DeFi, which seems to be the biggest use case of smart contracts currently. Ethereum is still the goliath in DeFi, and that doesn't seem to be changing any time soon, especially as we get closer to PoS Ethereum.
The wikipedia page for Solidity, the smart contract programming language, says that it is compatible with Hedera Hashgraph, so perhaps Hedera has smart contracts as well.
Clinamenic
Binary & Tweed
Maybe Polkadot too, but I'm unfamiliar with what Polkadot really is, if it is a blockchain and/or if it is a nexus for other blockchains.