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by latchkey 1063 days ago
> you've just done more to prove to me that you crypto folks are generally just ignorant of real world issues.

I didn't know I was supposed to "prove" anything to you or handhold you on reading even the basics of the available documentation. All I have to say is your loss for not making the effort on your own and being so negative and combative. Good luck sir.
1 comments
DropInIn 1063 days ago
Just more deflections and allusions.

https://www.lawinsider.com/dictionary/encumbrance

Educate yourself.

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latchkey 1063 days ago
You chastise me above for "the site sure doesn't in any reasonable nor concise manner" and then you do something even more silly. Oh the hypocrisy. At least I don't say something rude like "educate yourself."

I'll end my replies here. This is a circular non-productive 'conversation'. It is clear reading your past comments here that everything is negative from you, which is really strange to me. Seriously, have a great day, but I'm done.

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DropInIn 1063 days ago
You're insufferable.

The definition for the word encumbrance is literally the opening line and is the exact issue at hand that you refuse to address.

To quote it:

"Encumbrance means any charge, claim, community property interest, pledge, condition, equitable interest, lien (statutory or other), option, security interest, mortgage, easement, encroachment, right of way, right of first refusal, or restriction of any kind, including any restriction on use, voting, transfer, receipt of income or exercise of any other attribute of ownership."

How does AAVE or any other smart contracts ensure there are no outside encumbrances?

It has to use human third parties and pay those fees, on top of the SC fees.

Really, you're just proving to me that folks promoting this garbage are childish, ignorant and baseleslly arrogant.

And BTW, You are the one running in circles. I've been asking you the same question without getting an answer for several comments now...

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latchkey 1063 days ago
> It has to use human third parties and pay those fees, on top of the SC fees.

No, it doesn't. This can be codified into contracts and automated. Voting in the DAO ensures no single point of failure.

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DropInIn 1063 days ago
Any asset Off Chain must be validated Off Chain thereby adding external costs, which from my napkin math suggest the total costs would exceed traditional alternatives.

And that's without even addressing actually checking for encumberance of the asset, which then makes the whole thing no different than traditional contracts except for much higher costs, an inability to readily modify without significant expense (if at all), and more.

Without checking for encumberance Off chain the entire value proposition of an SC is a joke, as what the code says doesn't matter when a preexisting encumberance applies. (Ed: This applies to on chain assets as well)

And if you're going to say it's not for off chain assets then all your saying is that one essentially can only use existing crypto to secure a crypto loan, which undermine the point of the loan ever being obtained.

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latchkey 1063 days ago
> all your saying is that one essentially can only use existing crypto to secure a crypto loan, which undermine the point of the loan ever being obtained

Pretty sure my loans are perfectly not undermined.

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