• 0 Posts
  • 71 Comments
Joined 2 years ago
cake
Cake day: June 22nd, 2023

help-circle




  • Oh okay. Nano the blockchain (actually a DAG I think) has been essentially dead for years.

    Did a quick look at activity: Code repo only a dozen commits per month. Chain itself only a couple tx per min. Prob spam n bots left running.

    Note: I’m an engineer in the space. I’m not a trader. Traders trade dumb shit to follow hype. Perhaps there’s some influencer marketing shilling this crap and it’ll pump. That’s not my game. I trade on empirical data.






  • Sure if we started the whole tax thing today we may do it different. But it’s culture created over time. Our sales taxes all started during and shortly after the Great Depression in the 1920s. I’m sure store owners likely preferred people realize what they were charging vs the govts take. This is why I like it now. It’s very clear what the govt is taking and what the store is charging. It doesn’t bug me at all to have it added on at the register. It’s all I’ve known for 40 years. Currently I even live in a state with no sales tax (recently moved here), but I’m in a small tourist town that implemented a “resort sales tax” of 1% to help pay for city services related to tourism.







  • Hot take: No different than most everything nowadays. Look at clothing, furniture, blankets, toys, etc. all of it used to be handcrafted and the value of it was the work put in.

    All those things today are nearly as good quality if not better, and mass produced with no blood sweat and tears anymore. Do you look at your clothes and think about how clothes used to mean something? They did. It used to be a big deal the work spent making good clothes.

    Perhaps the next generation will look at graphic art the same way - just dime-a-dozen disposable decoration.

    If everything is so simple what’s the point? To enjoy life however you like.





  • It’s not a benefit in the example that you provide. It’s a benefit to the seller for sure. For that type of transaction it benefits you with lower prices due to retailers not having fraudulent sales result in chargebacks. This is the reason you’ll see it adopted by merchants (not Bitcoin, but stablecoins on Solana or Eth L2s).

    The benefits on the consumer side are around freedom of money - no seizures, no bank runs, no fraudulent cc charges (but added key management risk), no inflation (eh, but added volatility rn), instantaneous worldwide transfers (that’s where you see the remittance market buying in). Also new decentralized financial markets which bring better yield rates than banks.

    It’s a little more gray on the consumer side and I would expect services built on top to add insurance, escrow, and custody (exchanges and banks) type features.

    The other place it’s making waves is with larger amounts of money. Hedge funds, venture capital, and higher net worth individuals. It makes moving capital around much easier.

    So in that realm we see growth with it making its way into traditional markets - like stocks and commodities. Instantaneous settlement in this world is huge. Stock transactions can take anywhere from a day to 3 days in the tradfi system. On-chain we make atomic, irreversible, censorship resistant transactions instantly.

    You can already see companies launching stock backed tokens on chains now. Just a couple weeks ago StockX went live on Solana. Anyone can buy US stocks, anonymously, with no onboarding requirements. This disrupts global capital markets.

    So in summary, the benefits down at the consumer level focus more around access to new, secure products for earning yield and availability of alternative inflation-free assets with instant availability.

    Also, privacy. This world really re-enables us as consumers to have some financial privacy. That’s another whole rabbit hole tho and my thumbs are tired.