Post AFd60plRpcDKdido4O by rytger@pleroma.nobodyhasthe.biz
(DIR) More posts by rytger@pleroma.nobodyhasthe.biz
(DIR) Post #AAvcdlEJBGq7OSX06K by rytger@pleroma.nobodyhasthe.biz
2021-08-30T14:46:32.854650Z
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Been thinking about crypto in the long view and I think I'm a B*T*C maxi, though I currently don't hold any.It's all about store of value in a sane economyIn the current regime, there is massive printing of fiat which leads to asset inflation. Stocks and properties get inflated evaluations which distort the information that price is supposed to provide in a market economy.The promise of B*T*C was to take all that buying power and direct it into an asset whose price doesn't matter as a signal to economic coordination. Gold used to serve this role but since it was also used as a unit of exchange the relationship broke downBy contrast, DeFi isn't meant to store value. It's meant to be the economic lubricant. Like with stocks, there should be a "fair value" of a DeFi project that help people direct resources to where they do most good.The GME debacle was a way for to pull back the mask of legitimacy for Wall Street as a functional system for economic planning, to show that it's not very different from the shitcoin casino.The problem is that GME is not a good store of value. I we hypothetically say that it somehow became a shelling point for value storage and literally never went down. The result would be a an organisation with gargantuan resources to be plundered and misdirected by its board, employees and others with no skin in the game. An ultimate engine for rampant managerialismThe same applies to many DeFi projectsThey become schelling points for value storage based on hype or first mover advantage, but when the technology runs into limitations the hype will reverse.Both E*T*H and B*T*C are clunky pieces of shit, but for B*T*C it doesn't really matter, since most people will exchange it as wrapped tokens on DeFi platforms (such as Kadena, which has pretty good fundamenals)https://www.youtube.com/watch?v=puXPKZXGsacWhen someone figures out how to make decentralized custodians for wrapped BTC, it will be the final nail in the coffin for gold.People will get burned out on pumponomics at the same time as the us empire, and with that the USD function as a safe haven store of value deterioratesThe FIRE economy is a direct result of empire, since it's impossible to run an export surplus with the dollar as a reserve currency. The defecit is balanced with a massive stream of incoming investment capital looking for safe storage of value.There will still be a place for stuff like NTFs, but like other collectibles it will be governed by their sentimental and historical value. The price of art and collectibles are currently a function of the same asset inflation as everything else.
(DIR) Post #AAvcdllHChD92hxKUK by rytger@pleroma.nobodyhasthe.biz
2021-09-01T19:12:39.216112Z
1 likes, 1 repeats
Gonna shill Kadena a bit more here, because I want people like @thomaslewis and @graf to learn PACT. In my view it a decent bet at getting decentralized payment solutions to ourguysKadena is a proof of work chain that has solved the trilemma (scalability, security, decentralization) by multiple chains "braided" together via graph theory. This system adds very little overhead as you scale, compared to what you get in return in terms of security and decentralization. A bit more in depth here: https://medium.com/kadena-io/how-to-scale-a-proof-of-work-blockchain-9233e5b4b62PACT in turn is their smart contract language. It's made to be secure and easy to use, with lessons drawn from Etheriums Solidity. It's turing incomplete to restrict unsafe practices and has formal verification. Their stated goal is that a lawyer should be able to read the smart contract, as it's written uncompiled directly on the blockchain.https://www.kadena.io/developersHere's some more reading. I think it's transcibed from interviews/streams with the founders https://collectednotes.com/kadena/
(DIR) Post #AFd60n81dDUWSsBILQ by rytger@pleroma.nobodyhasthe.biz
2021-09-04T15:44:35.368377Z
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I believe this pattern will reverse at some point within 2-5 years. From the collapse the technologies actually capable of powering global financial markets will slowly grow in market cap according to their usage. Think dot com vs the rise of the tech giants.
(DIR) Post #AFd60nlNGuy0Quaig4 by rytger@pleroma.nobodyhasthe.biz
2021-09-04T15:45:28.666028Z
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The "use cases" of defi-chains has almost entirely been powered by meme-coins and NTFs, both value storage propositions that will be eventually be eaten by B*T*C. Without these, there's no use for exchanges and liquidity farming. Here's an example from a small dex on the new KuCoin chain. The guy did an amazing job with building a liquidity farms, launch pad etc, but it seems that most people using it were just interested in earning money on liquidity, so now it's basically falling apart
(DIR) Post #AFd60oJlD4TM9YgBH6 by rytger@pleroma.nobodyhasthe.biz
2021-09-04T15:46:26.571612Z
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There is stuff like CXO (document handling for shipping) on ETH, that might still be around a decade from now just because of inertia (like the ancient tech used at my factory job), but people building something more advanced from scratch will look to the fundamentals. Guys like this don't care about market cap
(DIR) Post #AFd60ouyygFM105uIC by rytger@pleroma.nobodyhasthe.biz
2022-01-12T17:04:53.866880Z
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I still hold Kadena and made quite some gains. Another project I'm DCAing into right now is OriginTrail (TRAC), which aim to build a "knowledge graph" for supply chainshttps://origintrail.io/https://tracelabs.io/---Think of something like a car. It uses thousands of parts from all over the world, with supply chains going through multiple corporate entities, both through logistics and manufacturing. Each of these have some variation to how fast they can deliver and all of them have differing levels of honesty and optimism about their own capabilities.Imagine if you had a database on all this, where each entity enter their estimated lead time and each entity sign off when they get an item. This way you could not only check the reliability of each entity, but do statistical simulations of the whole system.Some top level manufacturers probably have this already, but in centralized form unique for their ecosystem of subcontractors. However, there are also small players on the top of the value chain and large players at the bottom. For them, a decentralised database would offer a lower barrier to entry and a standardized way of reporting. For more independent actors, it could function as a reputation tool, tracking both lead times and the tendency to report disruptions up the chain by changing the recorded promises.Now imagine you’re working with procurement of rare earth minerals in Africa and an important mine get put out of commission because of some reason very specific to the region… Something that might be hard for the average Westerner to comprehend.You realize you’re temporarily fucked, but to keep your reputation you extend the delivery time a few months and focus on your other projects. 15 steps up the value chain, some nerd in thighhighs get a notification and plug the new number into the simulation software, realizing they are going to have to go with Wi-Fi instead of Bluetooth for their next line of smart dildos, since NSA and the Iron Kippah will get priority for the needed components.
(DIR) Post #AFd60plRpcDKdido4O by rytger@pleroma.nobodyhasthe.biz
2022-01-13T13:38:45.655549Z
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Either the bottom is in, or we will see a bottom around 22k in a few months. Either way now is a good time to start doing monthly DCA with your disposable income