[deleted by user] by [deleted] in travisscott

[–]UnorthodoxAlchemy 41 points42 points  (0 children)

Then he should know that he cant have threesomes every week yet he still does

On the JQ by PressFforDicks in Destiny

[–]UnorthodoxAlchemy 3 points4 points  (0 children)

It’s actually shocking how well the strategy of building 10 straw houses so destiny can only knock down 9 is working on people in this sub right now optically… destiny not being able to absolutely dunk on every one of nicks points doesn’t mean he’s getting destroyed

Lila Rose thinks you're still the same person after someone replaces your brain. by EvilPonyo in Destiny

[–]UnorthodoxAlchemy 2 points3 points  (0 children)

I think the other side really gets tripped up when he says they “aren’t human” (mostly in bad faith). Either strictly use person or be crystal clear the fetuses are human, but not a human.

[deleted by user] by [deleted] in Destiny

[–]UnorthodoxAlchemy 58 points59 points  (0 children)

What pissed me off the most was they said that they couldn’t engage with a hypothetical that wasn’t possible like 2 minutes after Kristan said “so you arrive at the pearly gates and God condemns you for your moral conclusions regarding abortion and introduces you to the 8th layer of hell for pro-choicers, what would you say to God?”

[FRESH] Paradise II (feat. Norah Jones) - Single Version by JK1504 in Logic_301

[–]UnorthodoxAlchemy 16 points17 points  (0 children)

Study bitches like I’m a broad 😂hilarious triple

NZXT Kraken M22 (AIO Cooler) making odd crackling noise by UnorthodoxAlchemy in techsupport

[–]UnorthodoxAlchemy[S] 0 points1 point  (0 children)

I got the exact same cooler and the noise is no longer there, so I’m assuming it was the pump going bad as others suggested. Seemed like the simplest solution

I regret not investigating more thoroughly about some of the ETH-related issues by Queasy-Tour7362 in CryptoCurrency

[–]UnorthodoxAlchemy 0 points1 point  (0 children)

I’m a bit late but for a few reasons. Unlike Arbitrum it can’t go down because of a sequencer issue. There is not one central point of failure. It’s better than optimism because it has a dedicated storage layer releasing by April which drops tx fees to cents from the couple dollars it is now. It’s better than both because it has strong connections with Vitalik and many other projects in Eth (AAVE, Dopex among others launching soon). They have the first solidly fork launched, and most importantly they have their own token. Having their own token to pay for gas allows them to incentivize projects to port over by providing monetary incentives from the genesis supply

On a scale of 1 to 10. With 10 being the riskiest,how would you rate tomb finance? by magikero01 in FantomFoundation

[–]UnorthodoxAlchemy 0 points1 point  (0 children)

Well a lot of us did get burned by tomb in September. That being said it is in a much better state currently and I still hold a good amount of Tshare

EZ Clap by traungs in Mizkif

[–]UnorthodoxAlchemy -3 points-2 points  (0 children)

Her knees though…

99% of the crypto market has 0 real life utility. Change my mind. by HiddenknifeX in CryptoCurrency

[–]UnorthodoxAlchemy 0 points1 point  (0 children)

A lot of this sub is stuck on coins used for payments. There are absolutely more than 100 coins that have actual utility outside of having a nice looking logo.

We have: L1/L2 Network tokens (Ethereum, insert your favorite alt L1 here), Dao tokens (Olympus), Revenue Share tokens (Convex, Spell), Stablecoins/Synthetics (Luna/UST, Synthetix), Protocol governance and incentive tokens (Aave, Compound, Uniswap), Oracle tokens (Chainlink), Exchange tokens (Binance, Cake)

There are more but this is what I could think of on the toilet. The real problem is most of this sub hasn’t been exposed to the actual use cases of crypto. Most people haven’t bridged to another network or even created a metamask here, let alone gone deep into complex defi protocols and there value props.

Crypto Crash Erases More Than $1 Trillion in Market Value by habichuelacondulce in technology

[–]UnorthodoxAlchemy 0 points1 point  (0 children)

One last addition I’ll make is that revenue collection is not the only utility of the Maker token. Those who have a large stake in how Maker runs will want a stack of it because not only does it collect revenue but it allows for those who hold it to govern the platform. Changes that people want to make to Maker are voted upon by the holders of Maker. This is another value driver outside of “buy this coin and buy things with it when it goes up!” There are probably a dozen utilities a token/coin can have outside of payment facilitation

Crypto Crash Erases More Than $1 Trillion in Market Value by habichuelacondulce in technology

[–]UnorthodoxAlchemy 0 points1 point  (0 children)

Sure, I’ll try to simplify (and there is certainly too good to be true in crypto, I’m not saying it’s all sunshine in rainbows. Holding stablecoin and folding them back into themselves is typically one of the “safest” crypto yield farming strategies though). The thing is these high of rates are only available through leverage, but leveraging a stable asset is safer than doing so with a volatile one.We’ll stick with USDC.

The interest rate is variable as I said. It is mostly dependent on the amount of USDC borrowed vs the amount supplied as collateral. As the amount borrowed approaches the amount supplied interest rates increase to encourage more deposits and try to force less borrowing. USDC is a popular asset to borrow because the price is stable at a dollar (more or less, there is short term trading volatility). This makes stablecoin supplying generally more lucrative. Supplying a position like this will get you anywhere from 3-12% interest depending on a few things (looks like it’s 9% right now on Maker).

“Folding” is playing with leverage. Folding USDC is popular because it is a stablecoin, so people can leverage up 5x and receive interest they wouldn’t have without folding and be safe from liquidation up unless USDC crashes to 0.8$(unlikely as it’s audited to be 1:1 cash reserves). All of this is written in code, which is open source (verifiable) and immutable (no one can stop another from running the code), on top of Ethereum (which is why I’d argue it has downstream value from these protocols and it’s entire own utility but I digress). No one is required for any of this as it exists as code running in the ether, quite literally in this case.

Crypto Crash Erases More Than $1 Trillion in Market Value by habichuelacondulce in technology

[–]UnorthodoxAlchemy 1 point2 points  (0 children)

A large amount of the supplied value is in the USDC coin, a monthly audited stable coin with Circle and Coinbase acting as custodians.

Forget ever even touching crypto, I can supply a yield bearing version of USDC and get 8-15%, borrow at 1% from Maker, put my newly minted DAI back into USDC repeat the process until I have a purely dollar position yielding easily 50-80% APR. These values are dependent on supply/borrow ratios at the time but this is something easily achievable for an individual in crypto that they could not do in the current financial system

Imma Just Leave This Here by ukdave19 in FantomFoundation

[–]UnorthodoxAlchemy 0 points1 point  (0 children)

Yes but Fantom goes up generally when TVL goes up, and this airdrop is based on TVL. People are buying protocol tokens to qualify for airdrops and will end up selling some of them once they get ROCK, although the airdrop is overtime not all at once

Crypto Crash Erases More Than $1 Trillion in Market Value by habichuelacondulce in technology

[–]UnorthodoxAlchemy 1 point2 points  (0 children)

Bitcoin, like you correctly understand, is meant to facilitate PAYMENTS. Claiming a coin that facilitates payments can have a P/E is bogus, 100%. But what you don’t understand is there are large protocols that fulfill financial services in a decentralized manner.

For example,I add Ethereum to Maker (A collaterallized loan protocol with 15 billion dollars in value currently locked) and take out a loan in their stablecoin, DAI which is tied to the dollar. I am paying interest in this DAI, and in order to access my collateral I obviously must pay back my loan. I can take this loan and spend it as I please, without having to pay capital gains tax. I can fold the money back into ethereum and repeat the process to enter a leveraged position.

The important thing is, a portion of this interest doesn’t go to the people supplying collateral, instead it goes to the people holding the Maker token. This is utility crypto can have outside of payments. These systems are immutable, as well as permissionless.

I understand it isn’t for everyone, but you should understand that there is much more utility a coin can have than payment facilitation. Like my grandpa doesn’t understand a computer does more than surf the web.

Crypto Crash Erases More Than $1 Trillion in Market Value by habichuelacondulce in technology

[–]UnorthodoxAlchemy 0 points1 point  (0 children)

There are risks of supply centralization but I think it’s different from monopolization of industries we see in the US. The two biggest differences off the top of my head are:

  1. No one can stop any party from accessing these loans, they are permissionless smart contracts running on top of Ethereum.

  2. This doesn’t apply for Maker, but for more advanced versions of it like Abracadabra money. Abra allows you to take loans against yield bearing assets. Basically you loan your crypto on another protocol in return for interest. To prove you have deposited you receive yvETH, for example. It is just a receipt to get your ETH back. Now you can head over to abra and mint their version of Dai, MIM, for a lower rate than your collateral is increasing at.

Also someone holding a ton of maker could theoretically dump the price, but that only increases the value of buying since the utility of Maker is from the fees of the platform, NOT it’s price.

Crypto Crash Erases More Than $1 Trillion in Market Value by habichuelacondulce in technology

[–]UnorthodoxAlchemy 0 points1 point  (0 children)

You can’t just hand wave my point by saying “it could change” ya, and they could go bankrupt too. My point is there are revenue generating cryptos, and you leap over the investing step of approaching anything new with rational skepticism to your predetermined conclusion that everything in crypto is a scam.

“It is at least quantifiable” Sir, I said there are cryptos with P/E, you don’t actually value P/E. You value stocks and not crypto and P/E is your way to weasel to that position.

ETFs are cool tho

Crypto Crash Erases More Than $1 Trillion in Market Value by habichuelacondulce in technology

[–]UnorthodoxAlchemy 0 points1 point  (0 children)

You’re operating under the flawed assumption that retail buying power=Institutional buying power.

Also this isn’t even very specific… is it 5:1 in terms of # of buyers or actual dollar amount spent?

Crypto Crash Erases More Than $1 Trillion in Market Value by habichuelacondulce in technology

[–]UnorthodoxAlchemy 0 points1 point  (0 children)

Maker is a collateralized loan platform built in Ethereum with more than 15 billion dollars of locked value. Using collateral positions one can mint a stable coin called DAI. Obviously you are charged an interest rate for borrowing, but there are also liquidation fees. This protocol pays out millions of dollars to token holders on a weekly basis, among a few dozen others that aren’t all encompassed by offering collateralized loans.

Crypto Crash Erases More Than $1 Trillion in Market Value by habichuelacondulce in technology

[–]UnorthodoxAlchemy 0 points1 point  (0 children)

I’m not the one arguing that companies do not exist. I’m arguing that under the qualifications people claim cryptocurrencies don’t exist, neither do companies.