dmihal

5 ms·

1.
by dmihal 4y ago
You should check out the Zero Knowledge podcast ( https://zeroknowledge.fm/ ) It's a crypto/blockchain podcast, but very technical, it's focused around the advanced technology that makes up the ecosystem (zero-
2.
by dmihal 5y ago
One project I'm following is Aztec Protocol. It's an Ethereum L2 (so faster & cheaper transactions, similar to Lightning) but it supports any Ethereum asset (ETH, USDC, WBTC) and is fully private.
3.
by dmihal 5y ago
Fees are a function of supply & demand. High fees means there's tons of demand to use the chain. Yes, it sucks for small users who are priced-out, but scaling solutions such as rollups should be launching within the next few weeks.
4.
by dmihal 5y ago
> What serious borrower needs to pay 10% to access credit? People who can make more than 10% trading? Lending protocols aren't doing anything different than what banks do: allocating inactive capital to those who can make use of tha
5.
by dmihal 5y ago
The transaction flows aren't dependent on new holders, it's dependent on users. If you somehow banned any new users from using Ethereum, existing users would continue to use Ethereum for the applications built on top of it.
6.
by dmihal 5y ago
Flash loans themselves are not an application, it's a primitive that other applications can build on top of. There's many applications like DeFiSaver that use flash loans to allow users to migrate debt between lending protocols wi
7.
by dmihal 5y ago
People hate Robinhood after they blocked users from trading. Decentralized exchanges like Uniswap are impossible to shut down.
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by dmihal 5y ago
The same reason that Bitcoin hasn't been displaced by newer projects. Both have massive network effects. Marginal technology improvements aren't enough to convince developers to build on a platform that has no users, no applicatio
9.
by dmihal 5y ago
> it might make sense to borrow 900 in ETH with 1000 ETH collateral. Then you make your vote on the DAO with a power of 1900 No, you would vote on the DAO with a power of 900, because your original 1000 ETH collateral is being held by th
10.
by dmihal 5y ago
Exactly, Ethereum is a better Store of Value than Bitcoin, not only because it is scarce, but because it provides utility, which creates demand. People need ETH for: * Paying transaction fees to use the network. For example, Visa is now set
11.
by dmihal 5y ago
The most innovation is happening in financial products. There's no way for a developer or entrepreneur to experiment building in traditional finance without the support from large financial institutions. But in DeFi, there are financia
12.
by dmihal 5y ago
Which investment opportunities don't favor early adopters?
13.
by dmihal 5y ago
And Proof of Work means those with access to cheap electricity rule over the network, which is why most mining happens in western China.
14.
by dmihal 5y ago
FinTech is a new frontend for finance Crypto & DeFi is a new backend for finance
15.
by dmihal 5y ago
The protocol is still in the early stages of development. The social contract is that the protocol & monetary policy will ossify after the transition to PoS & sharding is complete.
16.
by dmihal 5y ago
Do you consider earning interest to be speculation? I can put stablecoins (crypto dollars) in a lending protocol like Aave and earn ~10% APY. Compare that to my savings account, which pays out 0.25% APY. Or how about the stablecoins themsel
17.
by dmihal 6y ago
Bitcoin isn't valuable because of its technical properties, just like gold isn't valuable because of its physical properties. Both are valuable because of their universally recognized scarcity and value. If you want to put your we
18.
by dmihal 6y ago
What's the current status of eWASM? Seems like there's discussion of scrapping the whole phase 2 "execution environments" and just allowing heterogenous execution on rollups.
19.
by dmihal 6y ago
Short answer: no, there's only one Ethereum and one ETH asset Long answer: The beacon chain _will_ run in parallel until the two chains are merged. Until that time, ETH in the Beacon Chain isn't transferable, so effectively not a
20.
by dmihal 6y ago
yEarn is offering ~17% APR on stablecoins, but of course the risk profile is vastly different.
21.
by dmihal 6y ago
If this thread is any indication, most investors don't understand nuances of cryptocurrencies, just Bitcoin and "not-bitcoin". As projects like Ethereum continue to develop, I imagine it will diverge from Bitcoin more. It sho
22.
by dmihal 6y ago
Imagine somehow a single party gets 66% of all ETH, enough for them to execute the equivalent of a "51% attack". The community will notice and can decide to do a hard fork of the network where they "delete" the attackers
23.
by dmihal 6y ago
> Yes you've endured some volatility in price Not if you use stablecoins like Dai :)
24.
by dmihal 6y ago
I get paid in stablecoins on Ethereum. Then, I deposit them in lending protocols like Aave to earn ~6% interest. Would you say that I'm using them for their original intended purpose?
25.
by dmihal 6y ago
Now route your Ethereum node through the Tor network
26.
by dmihal 6y ago
Forget about the developing world. I'm an American living in Europe. My money is in the US banking system and in crypto. There's no easy way for me to "Venmo" money to my friends here, I'd have to use an internation
27.
by dmihal 6y ago
Well I have plenty of friends in Argentina, and Ethereum is helping them live through hyperinflation. Their currency is plunging, their banking system is corrupt, so these are their options: 1. Trade Pesos for USD on black market exchanges.
28.
by dmihal 6y ago
> Because blockchain keeps promising things and never delivering anything of actual value My friends in Argentina would disagree Blockchains (Ethereum specifically), cryptocurrencies and decentralized finance have allowed them to exit th
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by dmihal 6y ago
> This has been said for a few years now. The originally deadline for this was January 2020. Suffice to say, it didn't happen. I'll believe it when I see it. Definitely not the first time a tech product has been delayed! The be
30.
by dmihal 6y ago
Many of these transactions are not using ETH the currency, just Ethereum the network. Ethereum has many tokens such as stablecoins (USD pegged tokens), governance tokens (capital assets), synthetic assets, even wrapped versions of Bitcoin.

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