Comments
Transcript
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JHWhat happens if an asset is tokenized into many tokens and someone tries to claim on a few of those tokens? What happens to the underlying asset? For example If I tokenize my car into 1000 tokens then use those 1000 tokens as collateral across 10 trades (100 token/trade) and one of those trades goes against me. Then someone comes to claim 10% of my car? How does that work? Do they take the rare wheels and axle and leave the other 90% of the car?
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JGInteresting discussion. Recently I had to go 9 days with out electricity and it makes me wonder what happens to the crypto world if the lights go out and stay out for a while?
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DDI really like Alex's work.
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ALAlex could you or Ash please interview someone regarding China's dominance of BTC mining, the risk of a China/CCP 51% attack and how the network can adapt. I see this as the no.1 risk to BTC and it seems no one is doing a deep dive on this issue. Cheers
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MMMy overall issue is that none of the Real Vision hosts punch holes in any assertions by their guests. They should be helping us by asking hard questions, not just going through “the deck” of the guest.
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TPI had a good laugh with this one. Pros: Didn't mention "Bitcoin Maximalist" once. Bravo, RV, you're making some headway at last. Cons: "Tribalism", "Marketcap", and the Neu-Speak 2020 buzzword "privilege" But lets brush aside the excited lisping and get to brass tacks, shall we? For instance, this word salad from Mr Hoffman: "...you need your native currency to be valuable, because that's where you get/you generate the protective walls around every single crypto platform, you get it from the value of the native asset. The higher the marketcap, the better!" Oh I see, so my "protective walls" are so much better if I made TimCoin and pre-mined 1 trillion units? My god, I had no idea it was that easy! Please, continue! "Bitcoin is very synthetic asset" As opposed to what, "natural" Bitcoin? What is this garbage? "(PoS) Security costs are very little..." Oh it most certainly does not, those costs are just externalized to other things, like bandwidth, storage and sitting on a proper peering point in a datacenter somewhere -- because you can't possibly run a full node at home effectively. If this guy really believes that you get a free lunch for not paying for security -- he's in for a rude awakening. PoS has been gamed and its a matter of time before ETH's pivot to it is, too. "...we pay validators not with revenue but we pay them with issuance since their electricity costs are low, since we have proof-of-stake" The lack of self-awareness in this sentence had me laughing pretty hard. Also the EIP suggestion to "burn fees" to somehow make ETH "more valuable" is a bit like the Fed promising not to print -- they can, but super-pinky-swear they won't. It won't matter how much you burn when the token is designed to allow a centralized body of devs to issue it however they want. This is just scratching the surface. I feel sorry for anyone that gets taken in by the rapid-fire VC deck presentation skills of Mr Hoffman, as its obvious he has some fundamental logical flaws brewing under his starry-sky ETH logo shirt optimism.
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GCI got quite excited by the concept offered by Alex of interest rate arbitrage on real vs tokenisation e.g. the house example used. That lasted about 10 seconds until I wondered how your mortgage company is going to act when they find out you sold the house without its permission. If anything its the mortgage company that would be tokenising your obligation not the other way round. It was a nice idea though and Im sure there are other examples where it would work. On another note Im not sure I was convinced of the answer to the question of: if you get hacked do the hackers own your home now? Vaguely comical idea and maybe the theme for a short movie but still a head-scratcher. Loving the series as Im totally new to the world of ETH.
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TSI'll probably get pushback for this but, for me, Ethereum is starting to fulfill much of the initial promise ascribed to Bitcoin. Way back when it first started, many in the Bitcoin community believed it would become an alternative currency. Even before Bitcoin there was much talk about smart contracts. Most of that promise has now transferred to Ethereum. Very few developers are still left on Bitcoin. Virtually all have migrated (or started fresh) on Ethereum. It is where most of the "action" is happening, aside from price appreciation. Even some Bitcoiners are moving their Bitcoin to Ethereum in the form of "wrapped" Bitcoin (wBTC) so they can participate in DeFi. https://news.bitcoin.com/side-chaining-3-billion-tokenized-bitcoins-ethereum/ Bitcoin still has the "digital gold" narrative and that probably will never be dislodged, certainly not by Ethereum. That's incredibly important. But, most of the rest of the excitement has migrated to Ethereum, and development efforts there will be exponential in the next few years.
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GAI thoroughly enjoyed this interview, in the same way I am amused by a tag team of car salesmen attempting to sell me a used car. One learns from what they say, and even more from what they do not say. And those jazz hands.
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SBLooking forward to more conversations like these, they are helpful. When listened to closely all the hand waving becomes evident leading to a clear conclusion and it is this: Ethereum has the smallest probability of success in the long term.
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ppI find it surpring the bitcoin maialists are so sour about the Ethereum taking over Bitcoin market cap. The two currencies can go haad in hand and the reason bitcoin retraced in value against Ether is because Bitcoin cannot scale with 5 TPS and transaction fee on Bitcoin is way too high. You guys just need to accept the fact that Bitcoin is lack of improvement and you guys are still linger around same narrative over and over like arrested development people. All technology has replacement and we could share spaces or we can even move on to better tech
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BSBitcoin is the boring safe bet everyone and their mom is in. It has a great narrative, it is relatively easy to understand but that trade is crowded - especially now. The hate for Ethereum from Bitcoin bugs is music to my contrarian ears. The innovation is done on the Ethereum network. It is akin to criticizing FANG stocks as a gold bug. It makes no sense.
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DHBravo and thanks David. U guys moving us forward every day. Great supplement to Bankless. So glad u didn’t go to business or law school. There is hope for the world. Boomer.
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cmSounds like he's welcoming oracle attacks already. Someone introduce this guy to Sergey Nazarov. If it ain't powered by chainlink, stay away.
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DWReally enjoyed the interview. I'm not a particular Ethereum bull although I own some, since I believe that 3rd generation cryptocurrencies like DOT are more likely to take market share from it but the tokenized real estate part is interesting. I checked out RealT's website and while I'm not inclined to invest in Detroit property, I like the idea and could see investing in, say, Florida beachfront real estate if that ever became a thing.
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OLAt 21:00 you made perfect since! I was in the Silver Bug Tribe for the last 10 years! Passed on BTC in 2015 for that reason. Stuff happens, and the goal should be to find common ground!
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ptone dude is like an incel steve mnuchin in his gaming chair with his m and m teddy, lol, incel vibes
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JCI want an interview with someone who can flesh out why Ethereum is a shitcoin who would otherwise be an ETH bull. In the top 5-10 coins I tend to only look at the asymmetric upside, so I have a hard time giving the “ETH scam” argument any credibility. Seems pretty obvious it’ll do well in the next bull run, but I’d like to know if it has long-term staying power.
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LKhttps://twitter.com/LynAldenContact/status/1343248735208411146
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RMMake sure the figures you communicate are accurate. It impacts the credibility of the show. Thanks