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andreaorru commented on NFTs Are a Dangerous Trap   seths.blog/2021/03/nfts-a... · Posted by u/josephscott
quickthrower2 · 5 years ago
What’s the timescale for that? I know they are testing it now.
andreaorru · 5 years ago
If all goes well, 2022 [0]. The transition will happen in multiple phases. IMHO it's very interesting from a software engineering perspective.

- The Beacon Chain is already live (since December last year). It's going to act as the coordinating entity in the PoS system. Future validators are already staking Ether on it.

- Shard chains support is expected to be launched later this year. The plan is to have 64 shards to improve scalability. Together with Layer 2 solutions (which are on the verge of becoming mainstream, e.g. Jack Dorsey's tweet was minted using a L2) that will bring the throughput to ~100-200k transactions per second.

- The last step is "docking" the old Ethereum Mainnet to the Beacon Chain as one of the shards of the new PoS system.

[0] https://ethereum.org/en/eth2/

andreaorru commented on NFTs Are a Dangerous Trap   seths.blog/2021/03/nfts-a... · Posted by u/josephscott
AlunAlun · 5 years ago
> in-game virtual goods. But as certificates layered on top of collectibles... I'm not so sure.

I agree - the problem with most NFTs at the moment is that you can't actually do anything with them, apart from trade them.

There are games coming out now (e.g. Goal Revolution[0]) where your NFTs' properties (and, by extension, value) change based on what you do with them (how you use them). If the NFT thing is going to have any future, it needs to follow this example.

[0] https://www.goalrev.com/

andreaorru · 5 years ago
Have you played Aavegotchi? [0]

[0] https://www.aavegotchi.com/

andreaorru commented on NFTs Are a Dangerous Trap   seths.blog/2021/03/nfts-a... · Posted by u/josephscott
samim · 5 years ago
NFT's are Bullshit: https://samim.io/p/2021-03-05-non-fungible-tokens-nft-are-bu...

In Summary: 1. The NFT doubles down on the worst of copyright, the property metaphor, & tries to impose old ideas of scarcity & exclusion on the digital realm, where both are obsolete.

2.NFTs are an absolute ecological disaster

andreaorru · 5 years ago
Just want to point out that Ethereum 2.0 will be Proof of Stake, so moving forward the ecological argument is moot.
_iswk commented on $38M USD moved for half a penny   nitter.42l.fr/WhaleAlertB... · Posted by u/hggh
cuchoi · 5 years ago
Sadly still not available, do you know of any fully functional alternatives? Even if more expensive. Just surprised no one has done a Transferwise / traditional bank alternative yet considering it is one of the main publicized advantages of Bitcoin.

Strike is promising a lot (which is exciting!) but don't have a fully functional product yet.

_iswk · 5 years ago
I'm not aware of any alternative. Hopefully the global launch is not too far away.
_iswk commented on $38M USD moved for half a penny   nitter.42l.fr/WhaleAlertB... · Posted by u/hggh
robjan · 5 years ago
A Forex trade is still taking place so there must be a counterparty. The USD don't just disappear and reappear as EUR. Someone is buying them on the other side. Getting a better rate implies the counterparty getting a worse rate.
_iswk · 5 years ago
I'm not sure I understand your criticism. The USD is used to buy BTC. The BTC is then sold for EUR. There's no Forex trade, not directly at least.
andreaorru commented on Mining Ethereum on M1 Mac GPU   blog.yifangu.com/2021/02/... · Posted by u/gyf304
bunnyfoofoo · 5 years ago
What is bitcoin mined with now?
andreaorru · 5 years ago
ASICs.
_iswk commented on $38M USD moved for half a penny   nitter.42l.fr/WhaleAlertB... · Posted by u/hggh
robjan · 5 years ago
If they are able to beat the interbank rate it means they are either buying the currency from someone below market value (in which case that person is being shafted) or taking on Forex risk themselves.
_iswk · 5 years ago
From the article:

> Strike maintains a live Forex rate and compares that to its own rate before every transaction. However, in our testing, a Strike international transfer has never been done at an unfavorable exchange rate when compared to Forex rates. Shockingly (or maybe not) it was even cheaper sometimes, exposing the flaws and lag in Forex rates and how they are used. Bitcoin, as the most liquid, globally transferable asset is already acting as the new world reserve currency with Strike.

_iswk commented on $38M USD moved for half a penny   nitter.42l.fr/WhaleAlertB... · Posted by u/hggh
tootahe45 · 5 years ago
This must be the 4th time ive seen this app linked here and every time i go to use it THERE IS NO WORKING PRODUCT THAT I CAN USE. Also the hipster tone from the founder of this app makes me cringe every time because it seems very forced.
_iswk · 5 years ago
I thought this was Hacker News? What does the personal style of the founder have to do with the technology?

The app has already launched in the US and you can use it if you live there. Global launch is coming soon - they're running a trial in El Salvador.

Why is a community of makers hating on a fellow maker? Beats me.

_iswk commented on $38M USD moved for half a penny   nitter.42l.fr/WhaleAlertB... · Posted by u/hggh
_delibash_ · 5 years ago
There's always a cost. Even if you do not see it in the numbers.
_iswk · 5 years ago
No doubt. But that also applies to the legacy financial system. It's just much more difficult to calculate.
andreaorru commented on $38M USD moved for half a penny   nitter.42l.fr/WhaleAlertB... · Posted by u/hggh
Tenoke · 5 years ago
Depositing and converting that amount to Binance will cost you 0.02% in fees, and same to convert on the other end (assuming there's buyers for such an amount). Of course, that's assuming you are going from/to cash rather than keeping them in crypto.
andreaorru · 5 years ago
For those numbers you would be going through OTC, not buying on the open market, so the fees would likely be much lower.

u/andreaorru

KarmaCake day643November 24, 2016View Original