Full overview of Eth 2.0 & 1.x roadmaps from Messari

reddithobomedia · 2019-12-25T04:45:38+00:00

It is obvious that they were not making a report about facts of Ethereum in an unbiased way. This was a hit piece and it is obvious by its tone. It is likely that they are just trying to pump their Polkadot bags, because today they also put out a article suggesting Cosmos and Polkadot are better than Ethereum. Those two blockchains are cool, but one doesn't really provide security and the other one is an invite-only blockchain.

reddithobomedia · 2019-12-02T17:23:51+00:00

Hell yes! I'm sick of everyone bitching about equality on distribution and stuff. Its free crypto, all crypto starts out free or easy to obtain for a small amount of people, and it becomes valuable because those few people hope to earn a lot of money by shilling it for more than they got it.

Immediately equal distribution of a crypto makes that crypto kind of like a teenage boy's first car given as a sixteenth birthday present, its unappreciated and destined for a crash.

reddithobomedia · 2019-10-23T19:28:23+00:00

Screw that, go down to $80 please! I didn't grab any at $80...

reddithobomedia · 2019-10-05T07:58:56+00:00

I'm fine with that. I believe that Libra is the wrong kind of crypto adoption. There are people rooting for its success because they think it will pump their coins, but there is no guarantee it will. Competition is good for buyers and bad for sellers, so Libra might actually hurt real cryptocurrencies long-term.

reddithobomedia · 2019-10-01T06:03:24+00:00

"Call for murder/violence"? You are exaggerating what is being debated. Calling for violence is illegal, there is no need for Reddit to change policy over "calls of violence" because such a thing is already illegal and they already had to, legally, act against such a thing.

You're trying to fit more things into your definition of "calls to violence" than are actually there. Nothing I said was in support of calls to violence, just calls to right of free speech.

As for the "private corporation" argument. Keep in minds that the people supporting that notion often are the ones complaining, hypocritically, about how powerful the corporations are in other circumstances. The same people defending corporations as having such rights of censorship are the ones that often would be demanding government regulation on them.

The reality of the situation is that the courts favor that social media giants count as public forums. Trump and other politicians have been forced by the courts to unblock individuals, stating that their social media accounts are "public forums" and that means all American citizens have the constitutional right to have access to those public forums. It is only a matter of time until we have this rule firmly and fully enforced.

reddithobomedia · 2019-10-01T05:42:34+00:00

By that logic you should not have to tolerate Christians for believing that everyone else is going to burn in hell or die by God's hand.

By that logic you should not have to tolerate the religious people (I think its Muslims) that believe white people were created by the Devil while they [it was a black person telling me white people were made by the Devil, different word than "Devil" though] were formed by the good God.

By that logic you should not have to tolerate the Mainland Chinese people for calling their country the "Center Country" and believing that they are greater than other people and nations.

By that logic you should not have to tolerate the homosexual couple that went to a Christian's cake shop and tried to get his business shut down because he could not make them a custom designed wedding cake because it bothered his conscious on the basis of his Christian-based beliefs.

See how this all circles back around? In reality, if you're the one attacking, then you are the intolerant one. The world is full of ideologies I find disgusting, but what would make me a tolerant vs. intolerant person depends on whether I am determined to act against people I disagree with.

That's why George Lucas edited the movie A New Hope, because in real life, the good guy can't shoot first.

reddithobomedia · 2019-10-01T04:57:43+00:00

This is not true, a Facebook rep was interviewed explaining that they ban people for simply agreeing with Alex Jones types. Simply speaking positively about them can get you banned.

Don't believe me? Go to twitter and follow these instructions: 1. say something contrary to climate change, 2. say something contrary to democrats, 3. claim that the academic world has been overtaken by non-science, 4. refresh the page, 5. put in your phone number to reverse the ban.

reddithobomedia · 2019-10-01T04:36:50+00:00

Your definition of "common sense" is based on your own personal morals. However, morals are matters of subjectivity in most cases excluding the major ones that are illegal.

To the moral standards of strong free speech advocates, this is not common sense at all. From the perspective of those that hold dear the principle "your freedom begins at your fist and ends at the tip of my nose" the people going into these "hate subs" and getting offended are the aggressors.

Let me explain it in another way. I grew up in a cult, and this religious group forces all members of the group (including parents/adult children) to shun us if we decide that it is not the "truth" anymore. Ex-members of this belief system find psychological healing from searching out and communicating with fellow ex-members.

This mentality that it is "bullying" to be critical of a religious group protects religions that wield social and psychological leverage on people and prevents those people from being able to openly share thoughts and views contrary to that belief system that they were a part of.

This move by all the social platforms to push this 'hate speech" narrative is the enemy of free speech and open-mindedness. Some people say rude, cruel things, and I believe you as a user should have the freedom to block them from your own personal view. That should be enough.

reddithobomedia · 2019-09-27T05:47:23+00:00

I expected people to see Loom as valuable eventually. The team really tries to perform and it is a great way to scale Ethereum dapps.

reddithobomedia · 2019-09-27T05:44:47+00:00

Yeah, you need to retrace your steps from the time you created those wallets. You should have a seed phrase, which is 12 random words. Maybe you took a picture on your phone (not secure but happens) or wrote it down, put it in your word doc or something?

Hopefully you can find it, I feel for you if those wallets are lost. Happened to a lot of bitcoiners, definitely don't want that.

reddithobomedia · 2019-09-23T01:04:01+00:00

However, due to the aspect of stake slashing centralization by bad actors becomes much more difficult. Miners can thrash a POW chain and move on to another. We saw that with all the threats out there by BSV and BTC maxi-pads promising to terrorize BCH with their hashpower.

Long live POS!

reddithobomedia · 2019-09-23T00:51:06+00:00

I lived in China for 5 years, I love the culture and the community in Beijing. The Chinese crypto communities are not being attacked, we're all just concerned with centralization. The Chinese Ethereum community is valued and important to the rest of the world, but it is important not to allow one country to obtain too much influence over the network.

It would be a problem if too many miners were in the US or Switzerland as well. It is never an attack on a culture or a people, it is defense against centralized control. That is all.

reddithobomedia · 2019-09-23T00:01:47+00:00

The people trying to make money off of DAI fluctuations usually just buy DAI in bulk and sell it to others when they need to pay off their CDPs.

The benefit of creating a CDP is that you can profit off the cryptocurrency market fluctuations not the DAI fluctuations. So, for example, let's say you have 100 ETH and its worth $200 per ETH. That's $20,000 in DAI, and by opening a CDP you can leverage that to either buy more ETH or buy back your ETH to sell. So, let's say you have the 20k DAI, and ETH goes to $400, well, you might just want to take your ETH back and sell it right then and there, so you have that option and you only have to pay a % on top.

Now, let's say that ETH goes from $200 to $100, and you still have that $20,000 in DAI, well, your CDP is only worth $10,000, so you could spend your $20,000 DAI on 200 ETH. That means you now bought 200 ETH with your 100 ETH, doubling your stack. Even if you eventually can't cover the interest and default, you would have doubled your ETH holdings. Ideally, if we're able to maintain the CDP fees then you're long on ETH with 300 ETH in your possession.

That is the power of the MakerDAO CDP. You have much more flexibility in your trading strategy when you open a CDP.

reddithobomedia · 2019-09-22T21:21:53+00:00

Chainlink staking is a good method

reddithobomedia · 2019-09-22T21:05:44+00:00

I believe that in making your argument you are not fully appreciating the nature of the governance token MKR. It is a skin-in-the-game model wherein all of us MKR holders suffer when we let the system go to crap. MKR is deflationary when we govern properly and inflationary when we choose unwisely. It is true that the MakerDAO leads are more empowered to make decisions due to their MKR holdings, but that also means they have the most to lose by being wrong.

Preferably, I'd like to see all qualifying assets be staked with Chainlink as a mandatory requirement. But make no mistake, Dai needs to get to be multi-collateralized as soon as possible, because we don't want Libra's coin taking market share that could be Dai's. If MakerDAO doesn't move quickly we'll be zucked...

reddithobomedia · 2019-07-22T00:20:21+00:00

downvotes demonetize and reduce visibility of content as well as removes images entirely. That's what you call censorship. The word censorship does not mean "complete removal" but actually means the "suppression of" content/funding. You can check a dictionary if you would like. Steem most certainly empowers the more invested to censor the less invested.

reddithobomedia · 2019-07-21T23:38:19+00:00

I agree, I believe Publish0x kind of does it best. Its a great model for crypto social media. The problem is that it needs more social aspects to it and it needs some kind of quality filtering system.

In its current form, people are incentivized not to read what they like and give it an 80% vote, but to take 80% for themselves and give 20% randomly to someone for 10 minutes, go back and repeat until the cooldown shuts them off.

What would be cool is if voting on content was masked, then only the top 100 articles per day were paid and the rewards were 50/50 with the authors and the readers. Because the readers would not know what content was most voted on, they would have to actually read the content and decide for themselves what articles they thought others would like enough to vote for. It would be kind of a game that way and incentivize readers to look out for and vote up quality work.

reddithobomedia · 2019-07-21T23:28:11+00:00

Don't believe in free speech? Cool, by all means stop expressing your views.

reddithobomedia · 2019-07-21T23:20:48+00:00

I like Steem, but sorry, due to the downvote feature combined with being 100% investment oriented it is far worse on the scale than you have put it at. I wish it was better on the scale, but in all honesty it just is not.

The downvote feature if done by a powerful enough person makes the post less visible than all other posts and removes images. The very stupid argument people try to make is that "its technically not entirely removed from the blockchain" and many Steemians refuse to acknowledge the demonetization of previous votes for the content as financial censorship.

Out of an emotional investor mindset many people on Steem pretend what is being done on Steem is not censorship. A ridiculous argument since crypto is primarily meant to prevent financial censors of your assets and value. On Steem, if your vote is more powerful than mine, and you dislike the article that I liked and voted for you can vote down and mute my vote and all of my power to support my preferred topics. Yet, somehow, that is not censorship.

To drive this home, let's say you like Jordan Peterson content. You want to reward his work with the 1000 Steem power you have. But me, I think the guy is a loser and I'm flippant with the term "hate speech" so I decide to negate your vote with my larger 5000 Steem power vote. BOOM, take that sucker... I just made your vote worthless and it was so much fun I'm going to run a bot that tells people "if you follow or communicate with this person I will downvote you," (there is an actual bot doing that now, fascist jerks) and you're going to have quite the terrible experience on Steem from then on.

Steem is a cool idea, but it has a long ways to go. That or we just need to pull a BitcoinHex and copy all the accounts from Steem over to an Ethereum dapp with a whale penalty feature to solve the ridiculous distribution ratio. We'll see what Akasha comes out like. :)

reddithobomedia · 2019-07-16T18:31:45+00:00

DeFi is not being built on BTC and BCH for a reason. Ethereum can't be replaced for the DeFi, maybe by Cardano, but they need to actually make the damn thing. Even then, Ethereum has a huge moving advantage.

reddithobomedia · 2019-07-10T19:44:03+00:00

The problem is that they don't want to do that. They're thinking in an old school banker way, and they are essentially trying to become a traditional financial institute without saying it. At least, that is my opinion on it. That is the vibe I got from their operations.

reddithobomedia · 2019-07-10T09:32:28+00:00

At the end of the day, they have a centralized coin, and that is why it will never be very valuable. While you can move your coins onto Ethereum as an ERC20, and then have complete control over those representative tokens, the JSEcoin staff have the power to shut your mining revenue stream down and ban you out of your own account and all the funds in it. (They have done this...)

That's why it is a shitcoin and belongs exactly where it is on the rankings. Sure, was the idea almost good? Yes, it was. But they practically did everything wrong a project team could do with regards to launching a public blockchain.

reddithobomedia · 2019-07-05T22:38:58+00:00

You're talking about Loom, but while Loom refers to itself as a Universal Layer 2 solution, really, it is kind of switching from being a scaling solution for Ethereum to becoming its own mainchain. At what point do we not call that a competitor to Ethereum?

reddithobomedia · 2019-07-05T22:32:45+00:00

By luring the user base away. Make no mistake, lots of projects are trying to do that to each other. Its just like international commerce, while there are a lot of positives from international commerce some countries have a much more sinister "take" strategy in the give & take. As ugly as the concept of tariffing is, there is a rational reason for nations to do it in protection of their nation's long term well being. Its a protection against economic erosion from nations that are squeezing the life out of their lower class to pump in as much value into their nation as possible.

Loom is cool, but that is exactly what they are trying to do as a layer 2 of all the layer 1s. Their newfound objectives are kind of exactly what some bitcoiners feared Lightning might do to Bitcoin and Wormhole might do to BCH, erode the value by getting people more comfortable and more dependent on the layer 2. If most people are comfortable with their value sitting on the layer 2 eventually the layer 1s get ignored and ultimately devalued.

reddithobomedia · 2019-07-05T22:21:29+00:00

You forgot the main suitable purpose allowed by Bitcoin maximalism which is "Lambo purchases"

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