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The Edited Latecomer’s Guide to Crypto

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Re: The Edited Latecomer’s Guide to Crypto

#271

Post by saalweachter »

bigtunacan wrote: post #71
germanjoey wrote: post #44

The article (or, rather, the commentary in the link above on the article) talks about the fallacious notion of "market cap" in regards to cryptocurrencies. That is to say, e.g., multiplying the number of bitcoins in existence times the current market price is a silly metric because the entire market would never be able to cash-out at that maximum price. What I was wondering was: is there a better number? e.g., is the…

Overall, I enjoyed the analysis of the piece, but I disagree with their take on market cap. Amy Castor - "Yeah, market cap is a meaningless number. It assumes everyone bought at the current price and could cash out at the current price." We could just as easily apply that basic logic to any security. Amazon(AMZN) is ~3275 a share with a market cap of ~1.668T. That also assumes everyone could cash out at ~3275, but th…

> We could just as easily apply that basic logic to any security.

People do, uh, buy whole companies from time to time. When they do, the price is at least close to the current market cap of the company.

Barnes and Noble had been publicly traded, but was taken private in 2019. The private equity firm paid about 140% of the market cap at the time the deal was announced.

Re: The Edited Latecomer’s Guide to Crypto

#272

Post by dmitriid »

jakupovic wrote: post #270
dmitriid wrote: post #255

Earlier quoted context omitted.

It is actually terrible and outdated, and very few systems implement all of it.

Systems such as Linux, MacOS and windows? All terribly broken and unusable. Seriously you need better sources or more experience. POSIX is alive and doing better than ever.

> Systems such as Linux, MacOS and windows?

Of them, only MacOS implements POSIX fully. Windows doesn't. Linux implements a subset.

Re: The Edited Latecomer’s Guide to Crypto

#273

Post by bawolff »

chockchocschoir wrote: post #269
bawolff wrote: post #268

Earlier quoted context omitted.

Vs a cloud provider where there are many companies offering such services, you pick one you like, make a deal, and then upload your file via some standardized protocol (http, ftp, scp, etc) Not seeing the difference.

"Making a deal" here refers to two people interacting in the terms of "Make a offer" -> Waiting time -> "Other party accepts offer" -> Waiting time -> "Upload files" while companies offering file storage is more like "Make subscription service people can sign up to" -> "Someone subscribes" -> "Upload files".

Cloud services regularly make deals with customers. In fact it would be considered unusual for a non trivial customer to pay list price.

The people who pay full cost are the customers who are so small that its not worth the cloud vendors time to care about.

Re: The Edited Latecomer’s Guide to Crypto

#274

Post by thinkmassive »

tromp wrote: post #256
thinkmassive wrote: post #219

Earlier quoted context omitted.

CoinMetrics has done research in this area, for example Realized Capitalization: https://coinmetrics.io/realized-capitalization/

That one seems to correspond less to "money put in" though. As they note, just having Satoshi move his one million bitcoin would increase Realized Capitalization enormously, even though no new money is put in. Sum of daily price times daily emission on the other hand represents the total miner revenue; how much they would have made if they sold their mined coins as soon as possible (ignoring coinbase maturity for sim…

Good point, although your algorithm sounds more like it measures a lower bound on miner revenue, since it doesn’t account for miners who avoid selling their proceeds when they perceive the exchange rate to be too low. It also doesn’t account for future transactions of the same coins, so it doesn’t really address the entire market, only mining revenue.

Realized Cap isn’t perfect but it seems like one of the most useful attempts at measuring market cap so far. Of course “usefulness” depends on the question you’re trying to answer. Other factors can be taken into account, like the Free Float Supply: https://coinmetrics.io/introducing-free-float-supply/

Also keep in mind most of these calculations only consider on-chain transactions. Funds could be sitting unmoved on chain for years while being transacted many times per day on a second layer: Lightning Network, “wrapped” on another chain like Ethereum, or traded between participants on the same exchange.

Re: The Edited Latecomer’s Guide to Crypto

#275

Post by chockchocschoir »

bawolff wrote: post #273
chockchocschoir wrote: post #269

Earlier quoted context omitted.

"Making a deal" here refers to two people interacting in the terms of "Make a offer" -> Waiting time -> "Other party accepts offer" -> Waiting time -> "Upload files" while companies offering file storage is more like "Make subscription service people can sign up to" -> "Someone subscribes" -> "Upload files".

Cloud services regularly make deals with customers. In fact it would be considered unusual for a non trivial customer to pay list price. The people who pay full cost are the customers who are so small that its not worth the cloud vendors time to care about.

Ok, if you don't realize the difference between subscribing to a service (S3) and making deals (Filecoin), then that's up to you. No one can say I didn't try. In the end, it doesn't even matter, people use whatever fits their use case, including you and me. I'll stick with subscribing to services, and you can continue striking deals, or whatever.

Re: The Edited Latecomer’s Guide to Crypto

#276

Post by jakupovic »

dmitriid wrote: post #272
jakupovic wrote: post #270

Earlier quoted context omitted.

Systems such as Linux, MacOS and windows? All terribly broken and unusable. Seriously you need better sources or more experience. POSIX is alive and doing better than ever.

> Systems such as Linux, MacOS and windows? Of them, only MacOS implements POSIX fully. Windows doesn't. Linux implements a subset.

Now we're splitting hairs, Linux is POSIX compliant, but not certified as certification costs money. Windows is also compliant through Linux subsystem. On Linux side there are also distributions which are POSIX certified which then makes Linux certified as well. It's just the windows, which also was certified at one point, early 1990s and air force. So that makes me right?

Re: The Edited Latecomer’s Guide to Crypto

#277

Post by dmitriid »

jakupovic wrote: post #276
dmitriid wrote: post #272

Earlier quoted context omitted.

> Systems such as Linux, MacOS and windows? Of them, only MacOS implements POSIX fully. Windows doesn't. Linux implements a subset.

Now we're splitting hairs, Linux is POSIX compliant, but not certified as certification costs money. Windows is also compliant through Linux subsystem. On Linux side there are also distributions which are POSIX certified which then makes Linux certified as well. It's just the windows, which also was certified at one point, early 1990s and air force. So that makes me right?

Linux is mostly compliant, which doesn't mean fully compliant (but there are distributions that are fully compliant).

Windows isn't compliant, and "compliant through WSL" doesn't really make it compliant.

So that makes me right. Your opinion may differ, of course.

Re: The Edited Latecomer’s Guide to Crypto

#278

Post by [deleted] »

flaque wrote: post #120

The issue with crypto is that reasonable use cases are early, and don’t attract attention except for niche communities. There’s a few big ones, for example, filecoin right now has created a commodity market for storage that is currently 10,000 cheaper than S3 in some instances. (See file.app for stats) But realistically, the interesting projects are very small and hard to find. However, scams and ponzi schemes, by th…

[deleted]

Re: The Edited Latecomer’s Guide to Crypto

#279

Post by xaxaxb »

flaque wrote: post #120

The issue with crypto is that reasonable use cases are early, and don’t attract attention except for niche communities. There’s a few big ones, for example, filecoin right now has created a commodity market for storage that is currently 10,000 cheaper than S3 in some instances. (See file.app for stats) But realistically, the interesting projects are very small and hard to find. However, scams and ponzi schemes, by th…

The crypto skeptics are as irrational as the crypto optimists: firm believers in their own view, based on an incomplete information.

This.

Re: The Edited Latecomer’s Guide to Crypto

#280

Post by SilasX »

di4na wrote: post #242
sneak wrote: post #236

Earlier quoted context omitted.

It is very different than you sending money via an intermediary bank. I dare you to describe a method of wire transfer to Kyiv that works in that quantity and timescale and is practically usable by the recipient that quickly and cannot be blocked by your local government's policies. There simply isn't anything close to that. People that think that this is the same as a wire via a regulated bank are ignorant of the sp…

None because if it was a high quantity method it would get regulated or banned by society The regulations exist for a reason. The reason crypto do not have them is because there is no quantity. Not because it is magically immune to existing in societies

"Cryptocurrency has no practical use case."

'Yes it does, I got money to refugees when it was otherwise impossible.'

"Well... you shouldn't be able to do that."

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