61–70 of 361 posts
Earlier quoted context omitted.
This pretend money is currently the main driving mechanism behind the unprecedented business hacking and ransomware wave.
And for things like paying for ddos attacks and money laundering in general. Ah yes, and the classic all things dark web. There is not one use case except speculation for people who are not amongst the non law abiding elements of society.
> But to oversimplify, under the Mirror Protocol, the idea is to keep prices of the synthetic -- or “mirrored” -- equities in the ballpark of the real thing by offering incentives for traders to arbitrage price discrepancies and manage the actual supply of tokens. Users can create, or “mint,” new tokens when prices are too high by posting collateral, and destroy, or “burn,” tokens when prices are too low, driving the…
Who isn't allowed to buy TSLA?
Looks like cryptocurrencies are not very innovative. They keep reinstalling all the features that have been there and improved in the regular markets. Tether and stablecoins mimicking the USD, now this stuff mimicking stocks, how are the not getting in trouble with government institutions or Apple? What are the loopholes? No existing laws yet? Or they operate and reside in far away jurisdictions?
From TFA: > Users can trade the tokens anonymously 24 hours a day, seven days a week, from anywhere, unhindered by capital controls, “know your client” rules imposed on broker-dealers, and other frictions of the traditional financial system. These are certainly new innovations and features, be they good or bad.
Earlier quoted context omitted.
From TFA: > Users can trade the tokens anonymously 24 hours a day, seven days a week, from anywhere, unhindered by capital controls, “know your client” rules imposed on broker-dealers, and other frictions of the traditional financial system. These are certainly new innovations and features, be they good or bad.
Oh my, they cal KYC "friction", that is indeed creative writing.
In context, they also mention traditional markets being closed at certain days and times. This is also friction, but negative.
Looks like cryptocurrencies are not very innovative. They keep reinstalling all the features that have been there and improved in the regular markets. Tether and stablecoins mimicking the USD, now this stuff mimicking stocks, how are the not getting in trouble with government institutions or Apple? What are the loopholes? No existing laws yet? Or they operate and reside in far away jurisdictions?
From TFA: > Users can trade the tokens anonymously 24 hours a day, seven days a week, from anywhere, unhindered by capital controls, “know your client” rules imposed on broker-dealers, and other frictions of the traditional financial system. These are certainly new innovations and features, be they good or bad.
> These are certainly new innovations and features, be they good or bad.
That's saying a car with its seat belts removed has an "innovative new feature." The usual word for that situation is "regression."
Looks like cryptocurrencies are not very innovative. They keep reinstalling all the features that have been there and improved in the regular markets. Tether and stablecoins mimicking the USD, now this stuff mimicking stocks, how are the not getting in trouble with government institutions or Apple? What are the loopholes? No existing laws yet? Or they operate and reside in far away jurisdictions?
Earlier quoted context omitted.
>Not in America they won't lol, it's illegal. In fact it's illegal for US persons to trade securities out of a non-SEC regulated brokerage account Is this comment referring companies issuing equity directly on-chain? Of course it's currently illegal. That doesn't mean it's illegal in all global jurisdictions or that savvy traders won't find a way to have financial liberty, even if it means moving countries/jurisdicti…
Why would we voluntarily give up the security afforded by the SEC? The front-running thing is literal observable fact. If you know what transactions are to be included in the next block, and you're in charge of ordering them on a multi-minute timeframe, and you know pricing on exchanges in real-time why would you not take advantage? Why would you not front run? There's no law stopping you is there? > The little guys…
Check out time-lock encryption, auctioning transaction order rights, or Automata's conveyor service etc.
There's some powerful ideas floating around to bring MEV to negligible levels.
This is the beauty of crypto:
users will flow to the most efficient blockchain. If MEV is their primary concern, they'll flow to that which nullifies it :)
Earlier quoted context omitted.
From TFA: > Users can trade the tokens anonymously 24 hours a day, seven days a week, from anywhere, unhindered by capital controls, “know your client” rules imposed on broker-dealers, and other frictions of the traditional financial system. These are certainly new innovations and features, be they good or bad.
Oh my, they cal KYC "friction", that is indeed creative writing.
Earlier quoted context omitted.
From TFA: > Users can trade the tokens anonymously 24 hours a day, seven days a week, from anywhere, unhindered by capital controls, “know your client” rules imposed on broker-dealers, and other frictions of the traditional financial system. These are certainly new innovations and features, be they good or bad.
>> Users can trade the tokens anonymously 24 hours a day, seven days a week, from anywhere, unhindered by capital controls, “know your client” rules imposed on broker-dealers, and other frictions of the traditional financial system. > These are certainly new innovations and features, be they good or bad. That's saying a car with its seat belts removed has an "innovative new feature." The usual word for that situation…
The usual phrase for your argument is "false analogy."