so to be speak, Uniswap is the greatest invention of the humankind. It cuts the middle man, regulators, anyone calls himself accredited. The more beautiful thing is that you just need an elementary math to understand how the pricing works.
Do not rug on me: Zero-dimensional Scam Detection
11–20 of 158 posts
Re: Do not rug on me: Zero-dimensional Scam Detection
#12What constitutes a scam? I'm about as much of an NFT hater as you can be. But people spend money on lots of "dumb" stuff. So why is an NFT a scam if Pokemon cards aren't? Both of them are artificially scarce. Both of them are mainly about buying cute pictures. And at least for a lot of the buyers, it's about speculating the price will go up in the future.
Not a lot of people spend 10k or 100k on pokemon cards.
Quantity matters.
Re: Do not rug on me: Zero-dimensional Scam Detection
#13Duh.
Re: Do not rug on me: Zero-dimensional Scam Detection
#14What constitutes a scam? I'm about as much of an NFT hater as you can be. But people spend money on lots of "dumb" stuff. So why is an NFT a scam if Pokemon cards aren't? Both of them are artificially scarce. Both of them are mainly about buying cute pictures. And at least for a lot of the buyers, it's about speculating the price will go up in the future.
> The terms scam and malicious token are not being used identically by all researchers. For example, papers such as
[44] use the terms scam and under-performing token indistinguishably, leading to inaccurate results and classifications.
In the current paper, we define a malicious token as one released by a developer or a group of developers with no
intrinsic value or use case.
I guess the test token I put on Uniswap is a scam then.
Re: Do not rug on me: Zero-dimensional Scam Detection
#15I’m curious to hear more about the other 2.3%
Re: Do not rug on me: Zero-dimensional Scam Detection
#16What constitutes a scam? I'm about as much of an NFT hater as you can be. But people spend money on lots of "dumb" stuff. So why is an NFT a scam if Pokemon cards aren't? Both of them are artificially scarce. Both of them are mainly about buying cute pictures. And at least for a lot of the buyers, it's about speculating the price will go up in the future.
Not a lot of people spend 10k or 100k on pokemon cards. Quantity matters.
There’s a decent quantity of people who buy cases upon cases of collectible cards and sell the singles online.
Re: Do not rug on me: Zero-dimensional Scam Detection
#17For reference, Uniswap is a cryptocurrency exchange which uses a decentralized network protocol. The protocol facilitates automated transactions between cryptocurrency tokens on the Ethereum blockchain through the use of smart contracts.
Would you mind explaining that in even simpler terms?
Uniswap lets you exchange your cryptocurrency for another one without any centralized architecture (it's not an exchange like Binance).
Re: Do not rug on me: Zero-dimensional Scam Detection
#18For reference, Uniswap is a cryptocurrency exchange which uses a decentralized network protocol. The protocol facilitates automated transactions between cryptocurrency tokens on the Ethereum blockchain through the use of smart contracts.
Would you mind explaining that in even simpler terms?
It lets you swap token A for token B. The price is auto calculated based on reserves of A vs B…. Swap more of A for B and A becomes cheaper
Re: Do not rug on me: Zero-dimensional Scam Detection
#19Crypto is pitched as a decentralized alternative to central bank currencies. Which, I think, is a great idea, especially with CBDCs (which are really going to be the catalyst for fascism on steroids, especially in quasi-democracies) on the horizon.
My biggest problem with crypto is that most people who buy and hold it are not truly libertarians looking to scale up usability in the space. They're really just gamblers who want their investment to go to $1M per bitcoin so they can convert to fiat (the irony) and retire to the Bahamas and life the big life.
Otherwise, why does the entire industry keep banging on about $100K EOY?
And I won't begrudge you that, after all, it's your money, isn't it?
But until crypto makes a hard pivot from being a speculative investment to an ecosystem encouraging day-to-dy usage, I just don't believe it has any long-term usage.
In addition, I think Zuckerberg had an extremely brilliant idea when he wanted to make a stablecoin tied to a basket of currencies - it's be stable enough to use on a day-to-day basis, and it'd still be a crypto, at least theoretically.
Re: Do not rug on me: Zero-dimensional Scam Detection
#20I’m curious to hear more about the other 2.3%
WBTC is a 1:1 pegged token that you can trade on uniswap.