231–240 of 639 posts
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> in the way it would benefit the citizens of the world the most - as liquid currency for regular & cross-border transactions. Hawala has succeeded in performing that role for centuries.
Yes but Hawala it is the anti-thesis of crypto. Crypto is born out of the dream of cyberpunks to have a trustless society.
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APR depends on total staked amount, and decreases as staked Eth increases. You can see the chart here: https://launchpad.ethereum.org Now that the launch has succeeded, I will stake some of my Eth. As more people do that, APR will fall.
Edit: this complaint is null now! Poo, minimum 32 ETH or at current prices $19k. This reinforces my dislike of staking. Only making the already rich richer. Keeping lesser ETH holders out of the profit. But who am I kidding; if I magically had 32 ETH to stake I'd probably feel differently.
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So probably somewhere between 5~6%, maybe i should convert some of my Tezos to eth in the future.
In the longer term, yes. Plus you can use eth2 in defi (e.g., for lending) to generate additional yield.
You can't do anything with Eth2 that is locked. Some pool staking services offer a token for each ETH staked, but you can not use the staked ETH.
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As for Ethereum itself: It is basically a distributed computing platform designed to handle money, idea is you make a program that handles money, and it runs in a decentralized manner, this way noone can interfere with it, for example you could make a program that tells the users the password to login on a dissident newspaper if they donate something, since it is decentralized the government would have a harder time…
I read a lot of difficult words that I can't relate to. What does this mean for the average citizen in America or Europe? Also, I read this: > Ethereum clients use a listener (TCP) port and a discovery (UDP) port, both on 30303 by default. > If you need to run JSON-RPC, you'll also need TCP port 8545. Note that JSON-RPC port should not be opened to the outside world, because from there you can do admin operations. So…
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>What does this do for real-life applications? You can lend dollars on ethereum for 4% APR at the moment. That's a good reason to use this even for someone not interested in other functions. The interest comes from borrowers, who are mostly speculators going long on crypto. https://compound.finance/markets USDC is tokenized dollar that can be swapped to/from dollars in a bank account on coinbase. Recently it was even…
What happens with these loans if the recipient defaults on repayment?
I don't understand this. I don't understand any of it. I don't understand cryptocurrencies. I don't understand what problems they really solve. > "Ethereum is open access to digital money and data-friendly services for everyone – no matter your background or location. It's a community-built technology behind the cryptocurrency ether (ETH) and thousands of applications you can use today." I can do all these things alr…
At least you are honest.
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> In the case of Ethereum, digital scarcity secured by a blockchain enables a turing complete state machine that the world can use. Does this sentence actually mean anything? > In the most basic terms, this will remove clearing houses for transactions of assets. In the long term this will lead to novel types of assets, and make ownership extremely liquid. What does this mean in concrete terms? > Imagine using your ph…
Turing completeness in layman's terms means you can write programs on it. Traditionally a computer that most people are familiar with is a single machine, like PC or the device we can hold in our hands. Etherium is a swarm of millions of computers that anyone can add to the swarm. When people claim Ethereum is turing complete, it means that anyone can launch a program into it, and the "swarm" runs the program. But wh…
Usually the reason to run something on more than one computing unit is to achieve additive gains - like getting results faster, or processing more data in the same amount of time. This however sounds like a million computers computing the exact same thing. Why would one want to do that? It's a serious question - I'm having trouble imagining a generic use case.
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So it's basically irrelevant for the USA and Europe. Then why is it such a hot topic on Hacker News? I have some ideas, but they are not kind.
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 international bank transfer which would take over a week and cost high fees. But with my friends in crypto: I can just transfer them Dai. It takes about 15 seconds and costs less than a dollar (and will get cheaper w…
I mean I get what you are saying, but you just leave out all the pesky little details which at the end of the day are very important and why there are costs associated to banking.
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It makes me sad, because I expected a comment like this to be the highest on HN. In the case of Ethereum, digital scarcity secured by a blockchain enables a turing complete state machine that the world can use. In the most basic terms, this will remove clearing houses for transactions of assets. In the long term this will lead to novel types of assets, and make ownership extremely liquid. Imagine using your phone to…
"In the long term this will lead to novel types of assets, and make ownership extremely liquid. Imagine using your phone to buy shares in a recording artist you just discovered, and selling those shares when they win a grammy." I'm sorry but I really totally fail to see what is appealing about this future hellscape where literally every aspect of our lives is transacted, monetised and profitable. What is good about t…
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> In the case of Ethereum, digital scarcity secured by a blockchain enables a turing complete state machine that the world can use. Does this sentence actually mean anything? > In the most basic terms, this will remove clearing houses for transactions of assets. In the long term this will lead to novel types of assets, and make ownership extremely liquid. What does this mean in concrete terms? > Imagine using your ph…
> ”Does this sentence actually mean anything?” In more traditional software engineering language, it means “you can run stored procedures on an incredibly slow and limited distributed database.” Also those stored procedures are immutable, written in a language with more holes than Swiss cheese, and you have to use a scammy cryptocurrency to pay for the privilege of running these unsafe programs. The adherents call th…
You're probably referencing this fuck up: https://en.wikipedia.org/wiki/The_DAO_(organization)
The huge advantage of smart contracts is that they are supposed to be trustless - you don't need to necessarily trust your business partners because contract is set in stone ... code and will be executed exactly as agreed beforehand.
In reality, you move your trust in your understanding of the code. But then when 18 000+ (probably highly technical) people investing $50 million don't spot the bug in the code, then it calls the whole "trustless" concept into question.