Mr. Tea
Let's Talk About Ceps
You could argue crypto drives the production of articles about crypto, no?
global financial crash yay!
- Thread starter sufi
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Clinamenic
Binary & Tweed
I’m yeah right now crypto's main application is the technological advancement of crypto, a proliferating set of solutions in search of problems. In a way its a bunch of pure innovation (as opposed to "applied") thats speculatively driving a frothy market. That said, however speculatively, I do think things like DeFi, NFTs, stablecoins and DAOs are just the beginning of whats possible in an information-age-native financial paradigm.
Mr. Tea
Let's Talk About Ceps
Well I think we should go back to assigning monetary value to rocks based on their size and attractiveness.
Clinamenic
Binary & Tweed
I'd say pending innovation, in this case. Kinda like all those pure maths that were only pure until an application is discovered.
In a way, it makes sense why a bubble would drive such a heightened pace of innovation. It really seems like some of the leading developers are working on web3 infrastructure that is several years away from having its value fully realized, and I doubt so much of this work would be enabled under non-bubble circumstances, but I could be wrong.
Clinamenic
Binary & Tweed
Chainlink is a prime example. What they've been building for the last few years will be colossal when blockchain becomes more systematically relied upon. And thats just to say blockchain technology most broadly, if not the leading blockchains today.
Clinamenic
Binary & Tweed
There was actually NFT that was a jpeg of a rock that sold for a few million dollars, and it wasn't even that attractive.
Mr. Tea
Let's Talk About Ceps
There are some things I don't understand but would quite like to, and may even invest some effort into learning about one day.
Then there's NFTs, which I neither understand, nor have any desire to understand.
Clinamenic
Binary & Tweed
Yeah the initial NFT collectible trend has overstayed its welcome, in the opinions of many. But here the pure technology is much more interesting than its applications so far. Right now the primary application is collectibles, some of which have interesting code but 98% of which are junk, and people are starting to explore credentials and documents as NFTs, which I find more interesting. Season tickets, etc.
Clinamenic
Binary & Tweed
What I find fascinating here, and perhaps what is central to my fascination with blockchain, is how all of these things concatenate into an ecosystem, as in the network effect. Similar to how the internet already works, as a stack of protocols and technologies that combinatorially unlocks new features. In this sense, blockchain is the stackification of finance, or the ultimate reduction of finance to data.
Clinamenic
Binary & Tweed
II think ultimate the value prop for using certain blockchain apps over their non-blockchain alternatives, all else being equal, is this network effect potential.
For example, there are various different automated lending platforms on Ethereum, and you can take out a loan on one and repay it on another, all collateralized or even over-collaterized.
For example, there are various different automated lending platforms on Ethereum, and you can take out a loan on one and repay it on another, all collateralized or even over-collaterized.
IdleRich
IdleRich
My guess is most people like it cos they think that they can get wealthy from it which is not really a good reason. Other than that I'd have thought that the fact it wasn't controlled by a central body affiliated by a particular country makes it attractive although on an individual level it may not allow you to do anything specific on a daily basis - does that mean that it doesn't count as a "use case"? Suppose that there is no "use case for this stuff" at all, what does that mean?
vimothy
yurp
it would be very surprising if there were no use case for crypto, bc that would imply no one is using it, whereas in fact they obviously are. it's easy to think of use cases for crypto, eg speculation, personal enrichment, embezzlement and no doubt many others. it's more interesting imo to ask whether you can so anything in crypto that you cant do in the traditional financial system. does crypto add anything to society, or is it just another vehicle for financial speculation?
IdleRich
IdleRich
Yeah, I was just surprised at how neatly the things I said in two different threads actually agreed with each other, as though I'm actually a consistent person with a genuine constant position, rather than someone who just says whatever comes into his head at the time.
With crypto I tend to think that the anonymity it offers is probably a good thing - or it's a good thing that that can potentially be available to someone. In general though questions such as whether or not it's technically money are academic, the way it is used overpowers that.
With crypto I tend to think that the anonymity it offers is probably a good thing - or it's a good thing that that can potentially be available to someone. In general though questions such as whether or not it's technically money are academic, the way it is used overpowers that.