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by anotha1
1873 days ago
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"We don't trust each other so we need immutable ledgers" sounds like "we need more horsepower so we need stronger horses!" Works in theory... Edit: @vmception: If something leads everyone and their grandmothers to "invest" then it deserves scrutiny. And there is nothing to respond to. I mean "yes sir, that's right, you have knowledge of financial instruments and speculation, very good, now I'd like to ask why you're OK with people mistaking this as a serious investment instead of the quant-level speculation you are referring to, sir, thanks." |
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"I'd like to ask why you're OK with people mistaking this as a serious investment instead of the quant-level speculation you are referring to"
I literally do not care how people use their money but if you actually read between the lines, I have been saying that ETH is not something you should hoard. You only need as much ETH as necessary to write to compute nodes based on the computational expensiveness of the operation. You can do fairly arbitrary executions as long as you are willing to pay for it. I don't personally care what those executions are. But of the subset of those executions, the repo market and liquidity pool providing has stood out to me. And as I've said two or three times now, if you want to speculate on other people doing those "quant-level speculations" because now you don't need to be a top investment bank anymore and instead can just watch a few youtube videos to borrow and repay a few hundred million dollars for a few seconds, then go ahead an hoard ETH.
My actual opinions on unsophisticated people investing has nothing to do with Ethereum specifically. I am opposed to any barrier on investing when there are no barriers on gambling. Negative expected values games are available to all, but for something with positive expected value we want to coddle "grandmothers"? Miss me with that nonsense.
You act like you are here to provide scrutiny but were predictably never here to discuss any use case. You act like you were diplomatically asking for use case, and then never discuss any one of them only to move the goal post until revealing what everyone could tell you were trying to get at. Thats why I asked you, are you in the market for anything? Its useful to me to be able to borrow hundreds of millions of dollars for 5 seconds to earn a few basis points on an arbitrage I identified, without asking anybody. You can pretend that a MySQL database is better for that, but nobody is offering that service and it is fairly impossible to because of the financial legal barriers for a central party to offer a service that are exclusive to a central party, primarily around custody of funds, fiduciary duties, money service licenses, broker dealer licenses, settlement and inefficient state currency controls. The current evolution of the onchain services do not have custody to begin with, which are legal explicitly written exemptions to all of those laws.