Official Cryptocurrency Thread: Skepticism to Speculation to FIGHT! FIGHT! FIGHT!

Discussion in 'The Mainboard' started by Nantucket, Jan 29, 2017.

  1. construxboy

    construxboy xenForo is the new TMB
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    Isn't this part:

    Building a DeFi lending model for, say, getting a mortgage, is way more complex. The chain can’t judge your creditworthiness. The chain can’t just evict you if you stop paying. The chain can’t go out and do an appraisal. The chain doesn’t know if the market price of your home has gone down or anything like that. For all of that, you need actual humans.

    the point of ChainLink?
     
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  2. jorge

    jorge Founder of Post ITT if your team sucks
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    Also they have blockchain credit checks with Bloom, iirc.
     
  3. construxboy

    construxboy xenForo is the new TMB
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    Right. And they could check some home price program like Zillow or whatever. They couldn't physically evict you but they could contact police/lawyers/etc if you stop paying.
    I don't know, seems like it could be a pretty powerful function.
     
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  4. Tug

    Tug Well-Known Member
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    Removing humans from creditworthiness review is the intent of credit scores. I’m not sure how that couldn’t be automated
     
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  5. Arrec Bardwin

    Arrec Bardwin He ain’t me, he can’t be me
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    I think it could be, but he’s absolutely right that it is both way more complex and human involved than over collateralization and that undercollateralized debt has to be a feature eventually
     
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  6. Menelaus

    Menelaus The Red-Haired King
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    Btw I have a Bloomberg Terminal and Anywhere account thru work so I’ll try to continue to post interesting crypto related content from there.
     
  7. Arrec Bardwin

    Arrec Bardwin He ain’t me, he can’t be me
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    Like how would a blockchain know that you added on a bedroom to the back of your house without a human verifying it? Now theoretically, the verification could involve a form that goes onto the blockchain address of the property, so it’s still possible, but that involves regulation at some point.
     
  8. Harrison Beck

    Harrison Beck Rut Roh maximalist
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    lol. Terrorist money not working out so well for the hackers. It’s almost like it actually helps in recovering hacks. Btc simp out
     
    #16358 Harrison Beck, Jun 7, 2021
    Last edited: Jun 7, 2021
  9. jorge

    jorge Founder of Post ITT if your team sucks
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    I don't really see the major drawback to part of the process still being somewhat human involved. Like Bloom for instance has verifiers, but the important part is they certify onto the blockchain. Or something like that.
     
    #16359 jorge, Jun 7, 2021
    Last edited: Jun 7, 2021
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  10. Arrec Bardwin

    Arrec Bardwin He ain’t me, he can’t be me
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    I agree, it just won’t be the deregulated pipe dream some people want. And that dream is fuckin stupid anyways
     
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  11. Arrec Bardwin

    Arrec Bardwin He ain’t me, he can’t be me
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    $400 million will be like a McDonald's hamburger in 2028
     
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  12. Harrison Beck

    Harrison Beck Rut Roh maximalist
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    Pretty easy bet
     
  13. Harrison Beck

    Harrison Beck Rut Roh maximalist
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    The Donald weighs in
     
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  14. user15000

    user15000 Well-Known Member

  15. Menelaus

    Menelaus The Red-Haired King
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    Still in roadshow but discussing 7 year non call 3 structure with 6.25%-6.5% marketing range. B3 Corp rating and Ba3 on the secured bonds from Moodys. Pricing later this week I’ll post the final details.
     
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  16. user15000

    user15000 Well-Known Member

  17. Penguin The Duck

    Penguin The Duck Well-Known Member / #NFT Influencer
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    https://www.cryptoslam.io/veefriends

    A core VeeFriend sold for 14.6000 WETH on the secondary market today. I bought a core VeeFriend for 0.5 ETH only 25 days ago. Floor price on secondary right now is ~3 ETH.

    #NFTSaredead tho.

    Up next, I'm auditioning my bored ape for an NFT comic book. Ethereum is pretty neat.
     
  18. user15000

    user15000 Well-Known Member

    It’s hard to argue that there hasn’t been a massive drop in the nft market.
     
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  19. Penguin The Duck

    Penguin The Duck Well-Known Member / #NFT Influencer
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    It’s still more active than all of 2020 according to that blurry chart. Looks great to me.

    And the two NFTs I just mentioned cost me a total of .58 ETH before gas, but I can flip today on secondary for 5 ETH.

    The Twitter nerds crying scam sound just like the early days of people saying BTC was only used for black market activity and money laundering. I’ve been doing this for a minute, too. Next.
     
    #16371 Penguin The Duck, Jun 8, 2021
    Last edited: Jun 8, 2021
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  20. user15000

    user15000 Well-Known Member

    Meanwhile there are plenty of nfts that would be “flipped” for a loss. That’s just anecdotal evidence.

    I’m not calling anything dead, but the unbridled enthusiasm has disappeared. The evolution of the top shot thread is a pretty good indicator of that, plus ya know, actual market numbers and not whatever you bought something at that you can now sell higher.
     
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  21. Penguin The Duck

    Penguin The Duck Well-Known Member / #NFT Influencer
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    https://www.cryptoslam.io/veefriends

    BAYC Sold 2 hours ago for 3 ETH

    Plenty of actual sales and activity going on with two of the more popular NFTs while the rest of the crypto community is struggling with a price correction. You might have missed me already linking one of these, so here it is again.

    If you're comparing the "enthusiasm" to the spike on that chart from a few months ago, sure. But compared to previous years, NFTs are doing quite well, and we haven't even started utilizing the tokens. There was a huge spike in February, it's declined quite a bit, but it's still higher and stronger than previous years. Sounds like every coin out there right now, brother. In fact, look at the global crypto market cap for a similar time frame. The decline and spikes aren't as exaggerated as it was with NFTs, but it's there.

    I can't wait until next year when I can buy my Dallas Mavericks tickets and have it minted as an NFT. Do you think I can do that currently with Bitcoin or Dogecoin? Or more likely that's gonna be on an Ethereum platform, right?

    Plenty of evidence I've seen suggests that NFTs are about to blow up. The links above are a start. Cuban discussing NFTs as tickets for next season is another.

    And Top Shot won't exist in 3-5 years. There are shitcoins and there's shit NFTs. Top Shot is one of them, and LaMelo is about to steal all their momentum, or what's left of it, at the end of this month. Top Shot belongs on Binance.
     
  22. Penguin The Duck

    Penguin The Duck Well-Known Member / #NFT Influencer
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    download (8).png

    People are buying half a dozen Gary Vee NFTs for a price of a starter home, while the sellers have basically made a year's salary for 99% of us. In less than 25 days. Apparently, you gotta post a pic or a tweet for it to be real life.
     
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  23. wes tegg

    wes tegg I'm a Guy's guy, guys.
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    You don’t have a great record with buying season tickets. :twocents:
     
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  24. Harrison Beck

    Harrison Beck Rut Roh maximalist
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    Dude needs to check himself
     
  25. Chumbolone

    Chumbolone Well-Known Member
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    ngmi
     
  26. Chumbolone

    Chumbolone Well-Known Member
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    Hedge fund friend…

    JS: Evan suggested to look into MKR and it seems to make a lot more sense vs other defi tokens. Would love any feedback.

    If you look at one of these charts it seems to roughly track the order of market caps of the various coins.

    [​IMG]

    This always stuck me as weird because some coins have no current economic claim $uni and some have a limited economic claim $sushi $aave.

    Sushi token holders are entitled to 1/6th of the fees above and Uniswap 0%, for example.

    Also many of these protocols incentivize activity by giving out free governance tokens. For example on $AAVE so much of the activity is subsidized by earning bonus $AAVE not just the normal borrowing and lending. $UNI in this sense is good because activity isn’t subsidized.

    MKR is not a peer to peer lending service. All the fees generated go towards buying and burning MKR. On the downside, and I would love to really understand this better, maker is created to support the DAI peg.

    But net net, clearly a huge % of the fees generated by the protocol go directly to MKR. Which is unique. So what should the token be worth?

    Right now MKR is number 2 in TVL. Would be interesting to see where AAVE would be without giving away a bunch of bonus AAVE.

    [​IMG]

    Valuation: extrapolating recent numbers MKR should earn $120m in fees. I would expect this to grow over time and it’s more like a royalty valuation (no costs other than maintaining DAI peg— can anyone help me understand this cost to MKR?).

    Based on high growth SAAS something like 40-50x royalty revenue seems reasonable = $5-6b valuation and current valuation $3.2B so like 75% is upside. I bought some.

    Note: The larger concern with MKR is that a large % of the collateral is centralized (USDC being a major one at over 40%), making DAI not really a “censorship-resistant stablecoin”.

    (I also bought some)
     
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  27. Dirt Dirt McGirt

    Dirt Dirt McGirt Dirtin for Certain
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    newb here but believe in crypto's uses going forward, what's my best bet? Just buying some BTC and holding for a while?
     
  28. Houndster

    Houndster $25 Standard Unit
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    Doge / SAFEMOON 50:50 allocation and you’ll be living on the moon in under a decade
     
  29. jorge

    jorge Founder of Post ITT if your team sucks
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    Definitely not going to be expanding my Chia farming empire. These dudes are goons who have successfully burned through nearly all their goodwill in about a month with the community.
     
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  30. Chumbolone

    Chumbolone Well-Known Member
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    DYOR… BTC’s use case/investment thesis is vastly different than ETH’s. BTC isn’t a catch all for crypto even though they are seemingly correlated in price action. When you say “uses going forward” ETH comes to mind before BTC. BTC has one potential use imo - store of value/digital gold. And it’s debatable how well it’s achieving that purpose, but all crypto is speculative at this stage.
    Read that Joe Weisenthal article posted in the last page or two.
     
  31. Chumbolone

    Chumbolone Well-Known Member
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    Dirt Dirt McGirt

     
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  32. Harrison Beck

    Harrison Beck Rut Roh maximalist
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    Bullish.
     
  33. Dirt Dirt McGirt

    Dirt Dirt McGirt Dirtin for Certain
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  34. user15000

    user15000 Well-Known Member

    The Weisenthal article has plenty of high level inaccurate fluff fwiw
     
  35. user15000

    user15000 Well-Known Member

  36. Tug

    Tug Well-Known Member
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    Is Elon good again?
     
  37. Whammy

    Whammy Look kids, Parliament!
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    Is it really sadistic of me to want it to happen

     
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  38. Whammy

    Whammy Look kids, Parliament!
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    Can someone post the Bloomberg article, behind a paywalll
     
  39. user15000

    user15000 Well-Known Member

    It’s not secured by the btc they already have.
     
  40. Whammy

    Whammy Look kids, Parliament!
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  41. user15000

    user15000 Well-Known Member

    Fuck if I care. It’s a CIO of a fund offering his thoughts on MSTR’s offering drawing like $1.6B in interest.
     
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  42. user15000

    user15000 Well-Known Member

  43. Tug

    Tug Well-Known Member
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    His thoughts are hopeful theoretical nonsense though.

    I’m just gonna hold out hope Elon goes lazer eyes so I know it’s real
     
  44. user15000

    user15000 Well-Known Member

    The “thinking out loud part” kinda gave away that he wasn’t claiming he knew anything. Good on you for figuring that out though!
     
  45. Arrec Bardwin

    Arrec Bardwin He ain’t me, he can’t be me
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    This guy explains it well
     
  46. Tug

    Tug Well-Known Member
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    thank you then, for posting a wild ass guess about the possible actions of a charlatan as they pertain to the actual actions of a btc maximalist with a history or risky behavior. Great contribution
     
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  47. user15000

    user15000 Well-Known Member

    Lol