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Tell me how to do something worth doing with ETH and I'll be impressed. Cue the intellectualization from "investors."
What do you define as "worth doing"? DeFi alone has tons of potential answers to that question. Then there's decentralized exchanges... or do you not think decentralized currency exchange is "worth doing"?
Is there a good replacement for hackernews? The crypto-skepticism that derails every single thread even tangentially related to crypto currency has totally undermined my desire to participate in this community. It appears the "hackers" have moved on.
Is there any word on if browsers (chrome, firefox, or safari) will support crypocurrency transactions so I don't have to download a 3rd party plugin?
Earlier quoted context omitted.
The government needs to be in control of the money supply. Monetary and fiscal policy are important levers for maintaining the health of our economy. The government uses money to bolster trade, issue debt, maintain a high standard of living, etc. Crypto is a bunch of investors and engineers that think that they should be in charge rather than our elected governments. It's not even a geniocracy since it rewards only e…
> The government needs to be in control of the money supply. Not interested in bureaucrats determining my purchasing power, sorry
Tell me how to do something worth doing with ETH and I'll be impressed. Cue the intellectualization from "investors."
Yes trustless and distributed things have no value, crypto is stupid, BTC is a waste of energy, yada yada yada.
I'm seriously wondering how many things you did this year where you were like "damn, I sure wish this were decentralized and cryptographically secure, yeah, that would make this 10X better for sure, yeah!"
Tell me how to do something worth doing with ETH and I'll be impressed. Cue the intellectualization from "investors."
More like, cue the crypto critics. There are a million and one places to talk about the veracity of cryptocurrency. This thread doesn't seem like one of those places.
Earlier quoted context omitted.
> The government needs to be in control of the money supply. Not interested in bureaucrats determining my purchasing power, sorry
So rather than systems with oversight, faces, and names attached to them, you would prefer an entirely programmatic system where all transactions are final and irreversible which is not beholden to any intervention? There’s an old adage about how all programmers hate technology or something like that and I worry that we are flying too close to the sun here with the crypto hubris.
Yes, correct.
Tell me how to do something worth doing with ETH and I'll be impressed. Cue the intellectualization from "investors."
Earlier quoted context omitted.
Is there anything you would like to do that you need ETH for? Are you looking for inspiration or are you looking to talk about use cases that you will never be in the market for?
I mean, I've learned enough to have plenty of ideas for "how to use ETH" but nothing makes the cut. NFTs are **. DAO is too grandiose, especially to be hosted on ETH. And that leads to my comment.
before last year this was exclusively the domain of investments banks given the privilege of using the Federal Reserve's overnight repo market. Where the Federal Reserve would provide hundreds of billions of liquidity and destroy it at the end of the trade, allowing the banks to use credit to finish deals overnight.
in the Ethereum network anyone is allowed to use this, it is called "flash loans" in that market, and as always, writing any transaction on the Ethereum network requires the use of ETH, the native fuel necessary to commit transaction to the state machine and save the state.
flash loans = repo market
the difference being that on the Ethereum network, people borrow from liquidity pools, instead of newly created dollars like when a central bank is involved. this has much greater accountability and confidence. the transactions are executed in one block, if it is not possible for the operation to return capital to the liquidity pool then the transaction fails and it was never executed, but the person that attempted it still pays the transaction fee in ETH as the nodes still did use compute time.
Ether is just necessary to access compute nodes on the Ethereum network - specifically to write, as reading is free - no different than dollars are necessary to access compute nodes on the AWS Lambda network. Its not that complicated. If you don't need to write to compute nodes, and you are also not providing collateral to liquidity pools, then you don't need Ether.
Is there a good replacement for hackernews? The crypto-skepticism that derails every single thread even tangentially related to crypto currency has totally undermined my desire to participate in this community. It appears the "hackers" have moved on.