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Escaping the Dark Forest

samczsun.com

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Re: Escaping the Dark Forest

#101

Post by strogonoff »

seibelj wrote: post #97
strogonoff wrote: post #92

Earlier quoted context omitted.

Advertising profits without details on how much was invested in what assets and when? A major disservice, doubly so in a risky space like cryptocurrency and on a public forum. This really just makes the space seem even less trustworthy.

I gave you everything you needed to know! Uniswap airdrop! $500k profits! The rules of the airdrop are published! If none of this makes sense to you then you aren’t even remotely in the crypto space. Uniswap is the biggest dex in the world! Do 20 minutes of googling

I believe I already know everything I need to know here. I am concerned not about myself but those susceptible to being persuaded by statements a la “my friend made 6 figures” with no further substantiation, especially in these troubled times.

Re: Escaping the Dark Forest

#102

Post by cousin_it »

danielvf wrote: post #34
snake_plissken wrote: post #19

I still don't understand what's happening at the core of this and the other dark forest post from a few weeks ago. How exactly are these bots front-running/stealing the ethereums? My understanding: -these bots scan the smart contracts that are waiting to be executed by the miners -the bots find vulnerabilities (another grey area in my mind) in the contract -the bots adjust the destination address of where the contrac…

Imagine that everyone agreed that just one slow computer would handle banking, contracts, and the stock markets for the entire world. This gets rid of any pesky concurrency issues. To move money from person to person, or to execute contracts or programs, you write up a sticky note with what you want to have done, sign it, and attach some money to it. Once every couple minutes, the computer administrators come out, co…

And then the OP is about privately asking some of the slow computer's owners to run your sticky note without showing it to everyone first. If this is good, why not let everyone do it?

Re: Escaping the Dark Forest

#103

Post by seibelj »

strogonoff wrote: post #101
seibelj wrote: post #97

Earlier quoted context omitted.

I gave you everything you needed to know! Uniswap airdrop! $500k profits! The rules of the airdrop are published! If none of this makes sense to you then you aren’t even remotely in the crypto space. Uniswap is the biggest dex in the world! Do 20 minutes of googling

I believe I already know everything I need to know here. I am concerned not about myself but those susceptible to being persuaded by statements a la “my friend made 6 figures” with no further substantiation, especially in these troubled times.

Yes - you are yet another person speaking authoritatively on a subject while knowing basically zero. As an added bonus you freely admit you have no intention of learning anything, either! I have my public name here and my reputation in the industry carries my statements.

Re: Escaping the Dark Forest

#104

Post by pavlov »

seibelj wrote: post #100
remcob wrote: post #89

Earlier quoted context omitted.

For every lucky person making $500k there are 100 people loosing $5k.

Wrong! UNI was airdropped for free to all previous users of uniswap! No one lost anything. And in any trade, both sides have a coincidence of wants, so no one “loses”.

That’s probably the argument that the Wolf of Wall Street used to defend his boiler room schemes. “The penny stock company issued 100M new shares for free, no one lost anything, we sold them to people who had a coincidence of wants.”

Re: Escaping the Dark Forest

#105

Post by rsync »

seibelj wrote: post #103
strogonoff wrote: post #101

Earlier quoted context omitted.

I believe I already know everything I need to know here. I am concerned not about myself but those susceptible to being persuaded by statements a la “my friend made 6 figures” with no further substantiation, especially in these troubled times.

Yes - you are yet another person speaking authoritatively on a subject while knowing basically zero. As an added bonus you freely admit you have no intention of learning anything, either! I have my public name here and my reputation in the industry carries my statements.

Short everything this guy has ever touched.

Re: Escaping the Dark Forest

#106

Post by seibelj »

rsync wrote: post #105
seibelj wrote: post #103

Earlier quoted context omitted.

Yes - you are yet another person speaking authoritatively on a subject while knowing basically zero. As an added bonus you freely admit you have no intention of learning anything, either! I have my public name here and my reputation in the industry carries my statements.

Short everything this guy has ever touched.

You paste the same comment everywhere. If you don’t want to trade crypto, don’t! This is the riskiest asset class around. Another benefit of our voluntary society - the freedom to use index funds.

Re: Escaping the Dark Forest

#107

Post by seibelj »

pavlov wrote: post #104
seibelj wrote: post #100

Earlier quoted context omitted.

Wrong! UNI was airdropped for free to all previous users of uniswap! No one lost anything. And in any trade, both sides have a coincidence of wants, so no one “loses”.

That’s probably the argument that the Wolf of Wall Street used to defend his boiler room schemes. “The penny stock company issued 100M new shares for free, no one lost anything, we sold them to people who had a coincidence of wants.”

All markets have losers - another trope from the uninformed left. Markets allow people to satisfy their needs in a voluntary way.

Re: Escaping the Dark Forest

#108

Post by daanavitch »

pavlov wrote: post #40

Nice work, but honestly I'm not sure why they bother. The article states that the purpose of these smart contracts is: "Stake your tokens with us and you could be the next cryptocurrency millionaire" That's an obvious scam. Anyone who gave real money to such a cause has already lost it. So why is the author giving away his time to help the scammers?

'Yield farming' has been very popular the past few months. Compound Finance was the first to kick off the hype by giving away their governance tokens to people that used their platform. You can compare it to Facebook giving you some of their stock by being an active user.

The end game of those governance tokens is for them to control the whole platform, so absolutely no changes can be made to the platform without being voted in by the token holders. All of this is enforced trustlessly on the blockchain through smart contracts. As a token holder you really own part of the platform.

This is a very powerful concept, so a lot of people are interested in buying those governance tokens outright. So what you can do is put your money in one of those platforms, receive governance tokens and sell them to people that want to buy them outright. You can make quite good money doing this.

Now a lot of projects popped up that basically had nothing to offer, yet people were still buying their governance tokens, meaning you could still make money by putting your money in there and selling those tokens to those people quick before those tokens became worthless, basically an advanced game of chicken.

So what I'm saying is not all of those 'stake your money and receive tokens' are outright scams. There are some very legitimate projects being built that give away governance tokens. Uniswap comes to mind, the most popular decentralized exchange, doing over half a billion in volume yearly. There's of course a lot more nuance and not everything works as it should yet, but there's a lot of interesting stuff being built every day.

Re: Escaping the Dark Forest

#109

Post by daanavitch »

barnabee wrote: post #83
danielvf wrote: post #34

Earlier quoted context omitted.

Imagine that everyone agreed that just one slow computer would handle banking, contracts, and the stock markets for the entire world. This gets rid of any pesky concurrency issues. To move money from person to person, or to execute contracts or programs, you write up a sticky note with what you want to have done, sign it, and attach some money to it. Once every couple minutes, the computer administrators come out, co…

Great summary of one of the major problems with trading (and related financial activities) on public blockchains. The root of this particular issue is that transactions are not processed sequentially but ordered by how much someone is willing to pay. Having spent much of my professional life designing and building trading systems, and despite the problems with current blockchains, I’m convinced there’s something here…

Chainlink Labs is also doing research in this area: https://blog.chain.link/chainlink-fair-sequencing-services-e...

Re: Escaping the Dark Forest

#110

Post by ShorsHammer »

drchopchop wrote: post #27
vvpan wrote: post #18

Earlier quoted context omitted.

Can you elaborate? Why do you find that "smart contracts" are built on a shaky foundation?

Because there is no real formal verification process for smart contracts, it's extremely easy to slip bugs into the contract code, the contract itself is generally immutable (can't fix bugs), and the effects of a breach are generally catastrophic and irreversible. Need more reasons?

> there is no real formal verification process for smart contracts

Not following here, instead of process you mean no requirement to do so? The process is pretty clear and simple, there's a few different frameworks being built for smart contract formal verification along with the traditional methods working fine.

What was the last bit of code you wrote or used that was formally verified?

https://sci-hub.se/https://ieeexplore.ieee.org/document/8905...

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