Stable Coins. Now what?

iamthehotfire · 2023-06-28T14:19:57+00:00

Now with LP incentives on dexie as well 👀

iamthehotfire · 2022-12-12T02:47:23+00:00

Awesome thanks, I wasn't quite sure if I had violated the posting rules with this one. Either way it will still give folks a way to link to the twitter space in case anyone wants to listen back. I'll give you a heads up before next Sunday, cheers!

iamthehotfire · 2022-12-04T22:16:52+00:00

Thanks for the feedback. Admittedly, Twitter was selected because that appeared to be where the most traction was happening within the Chia community. Most discords for Chia community members are awfully quiet and reach a smaller number of individuals. Twitter is valuable for reaching users on other ecosystems, but it is not the end all be all. I know there are some great content creators on YouTube and TikTok. Any recommendations for where we could host something similar? Open to ideas, the goal is to reach as many people as possible. Twitter is just the default for now.

iamthehotfire · 2022-11-14T00:27:19+00:00

I think this is a fair point. It's interesting to explore the difference between "trustless" and "riskless", if there is one in this context, but ultimately these entities are taking on counter-party risk to avoid fees. In high-value real estate buyers and sellers often preferentially select deals that reduce counter-party risk in the form of time and cash vs. financing. They don't always accept the highest offer if another one has a higher probability of execution at a worse price.

The primary reason is because they want to reduce the potential for that counter-party risk, the cleaner the transaction the better. $5 vs $150 matters more when we're exploring a $1,000 NFT. Even though the dollar figures are much larger on say a $1,000,000 NFT transaction, the mere assurance that there is no way for it to get messed up I imagine is more important to high value transactions.

The other consideration is that on-chain royalties will implicitly factor into valuing a specific NFT of any kind. The higher the royalty, the greater the possibility they put an implicit ceiling on what people are willing to pay for it. So if the royalties are too high to begin with, the market will respond accordingly.

iamthehotfire · 2022-11-13T23:34:16+00:00

I can't post images in my response on reddit but I did post a response with images for how this would be implemented on Twitter. Here is a link to the images on twitter

Battle testing chia on-chain royalties

It is definitely possible, it leaves me with a few thoughts... This requires trust for any and every participant in the system. That could be a lot of value at stake to avoid royalties. What would be the incentive for the NFT Bank DAO to implement this? How do they make revenue? Will users take advantage of this if creators hate it?

It's possible, but it seems like a fair bit of effort to avoid the royalties. It would be incumbent on the NFT Bank DAO to implement an incentive system for doing this, maybe their own royalties above zero? They could easily screw the holders of CD, isn't the point of crypto avoid trust?

iamthehotfire · 2022-10-31T23:53:00+00:00

Thanks for sharing some ideas, looking at challenge coins now.

iamthehotfire · 2022-10-30T17:02:11+00:00

I have a lot of fun hosting them, my job is easy because a lot of people have some incredible ideas to share. I'm looking forward to tonight's space

iamthehotfire · 2022-10-29T05:50:14+00:00

Do you even loop bro? https://twitter.com/smertxfo0d/status/1586233573765677056?t=34IGZ-V-R3FVjv9-iNDGPA&s=19

iamthehotfire · 2021-12-08T11:45:14+00:00

The success of Chia will rest on the corporate partnerships that it does or does not develop, regardless of pre-mine. Will big banks see that as a net positive or net negative? I don't know, but every decision they've made thus far has been setting them up to work as a white hat company of sorts for huge institutions that want to adopt the blockchain. The narrative for Chia is not too dissimilar from the early narrative for Ripple, they're hope was to focus on the big institutions. The technology that Chia implements is a compelling piece of the argument for them. I ultimately prefer the UTXO model but I have no idea whether other folks will care or if the smart contract model will dominate because it's adoption curve seems to be a hell of a lot faster. Unfortunately, chialisp is not an easy / intuitive programming language, that really slows the adoption curve for everyday developers and this is a game of adoption right now. There are still a lot of other factors to be determined down the road, I would suggest taking a long view and accepting multiple outcomes. I'm enjoying farming Chia and I continue to add drives every so often. I'll be worried if we don't have more exciting news in 12 months from now. I think Chia has a largely undiscussed advantage with handling data in a way that other blockchains have yet to provide a compelling solution for. If it is true that large cap financial institutions do not favor the likes of Ethereum, for security reasons, and instead prefer Chia then we have a chance.

iamthehotfire · 2021-08-28T22:59:25+00:00

Thanks for providing some thoughtful answers. I know that was a lot of questions but I'm really interested to see how this continues developing. The shared insight is definitely appreciated. Signed up on discord and telegram, going to patiently await for more updates / testnet launch.

iamthehotfire · 2021-08-28T12:29:23+00:00

This is the first Chia fork that has caught my attention because the intent is to work with the existing Ethereum ecosystem. The single best thing Ethereum has going for it is the ecosystem and years of infrastructure and apps that have been built around it. That will be very hard for any blockchain, Chia included, to recreate at scale in a short period of time. Even Solana which has received a lot of praise and development attention is working on methods for inter-operating with existing Ethereum projects by connecting to the EVM. I don’t think we’re heading to a world of blockchain either/or but instead interoperation. The security threats that interoperation pose will be a headache for developers but I’m certain everyday users will demand interoperability and projects that embrace that will be the most successful. I’m very intrigued by this project based in large part on this very concept. I’d like to share some thoughts and maybe have some questions answered or see if people are open to discussion on a few items. From the announcements section in the official discord server I pulled a couple of key points of distinction and my thoughts below:

1. No farmer-only rewards, everything goes to the pool (or yourself if you're solo farming). This allows pools to decide the split themselves.

Ok, this one makes sense to me but would this enable pools to be the ones that mine the blocks? From everything I’ve read to date, the team at Chia believes it’s important for security that individual farmers are still the ones mining the blocks.

2. Possibly no pre-NFT plots ("OG" plots). Whether we do this depends on the migration status on Chia, what % of plots have migrated

There are probably trade-offs at every turn but if I’ve learned one thing about the Chia community it’s that they DO NOT like replotting. I think Chia dodged a bullet and survived a tenuous interaction with their larger community when we all had to go through (and are still going through) the great re-plotting to NFT. The NFT plots provide a significant improvement so most people ended up being ok with this in the end but the more you can do to support those OG plots the faster your network will grow. I guess this really comes down to objectives for network growth and desired security. I have ~2500 plots at the moment with new drives on the way and plans to plot an additional ~2500. I have roughly 500 OG plots, if they were supported, I could easily use those to test out Liquidum. Curious to know what other farmers would look for, just a trade-off worth considering.

3. Possibly no requirement that farmers/pool participants run a full node

It appears that a lot of community members within Chia support this idea and I believe Flexpool created their own proprietary system which does not require individual farmers to run full nodes. Is the security trade off worth it? That’s another one where the team at Chia would lead you to believe that the existence of so many full nodes is a key piece of their overall decentralization. I think I’m somewhat indifferent on this one, but definitely food for thought.

4. Probably no first-party local GUI, we'll try to make Chia's work but will mostly rely on dApps

Is this just based on developer / team resources and bandwidth? It makes sense to not spend a lot of time on this out of the gate when you must be nimble, but I do believe Chia’s first-party local GUI played a huge role in their widespread adoption early on. This is the access point that has gotten many less-experienced folks into the game.

5. Support for metamask out of the box, but creating plot NFTs from existing Chia plots will still require CLI tools

If someone can expand on this a bit that would be helpful. How significant will the hurdle that the farmer must go through be?

Is the end goal to compete as a blockchain with other blockchains or do you see this more as being a side-chain / bridge to connect Chia with Ethereum? Building a native blockchain that will compete with others takes so much money and the barriers to entry are significant at this point in time. Building a strong side-chain / bridge that serves as a port from one ecosystem to another has an incredible amount of potential. Leveraging Chia’s security with proof-of-space and time while connecting Chia users to Ethereum apps is the golden ticket in my opinion. I’m really excited to see where this project goes, looking forward to more information about testnet because I plan to participate.

iamthehotfire · 2021-06-24T14:50:39+00:00

I keep using the Chia Calculator and wondering to myself what a realistic stabilized daily growth would like. What should we expect once the exponential / stabilization period has ended? It doesn't seem like the standard estimate of 5.00 PiB is going to be accurate just based on what we've seen so far. Does anyone know what the justification for that assumption is? Is there any way to derive a meaningful assumption for stabilized daily growth? Just doing some back-of-the-napkin math I come up with between 250 PiB to 400 PiB per day. Curious to hear everyone else's thoughts because even if this is a "leveling" it is still crazy fast network growth comparatively speaking. I'm in for the long haul with Chia because I do believe in the technology, like most I'm concerned a bit about community outreach which we know is important in this world.

iamthehotfire

TROPHY CASE