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fsewe20's comments

fsewe20 | 5 years ago | on: Ethereum 2.0 launches

So yeah, it places a bet on augur, buying as many shares as it can for "no trump wont be elected" which are currently around 90c and will resolve to $1 in January when biden is sworn in. The reason it isnt $1 yet is because some people are buying the other side of the market for whatever reason. It seems like an obvious bet really, so the strategy is to pool everyones money, take the bet, and then after the market resolves pay back the winnings to the pool.

This particular strategy is just a bet. but other strategies would involve borrowing assets and lending them out to gain interest like you mention. You could say "i can do that myself, what is gained by pooling" and there are two things: 1 you dont have to manage this, the strategy keeper manages their strategy and takes a small fee to do so, and 2 you would be in competition with the pool, less lenders means higher rates so it makes sense to pool the lending.

They get increasingly complex involving taking insurance, lending, borrowing, producing tokens, burning tokens, etc. all from other decentralised protocols, it all gets stitched together across platforms. Money lego is a phrase often used, but really its more like `npm install insurance`

Ah sorry about the link, didnt realise (btw you dont need a yearn account, there is no accounts on these platforms, but you probably do need a web3 wallet like metamask. you have a wallet and that is your account across all platforms, so you hold your user data with you, and can have as many identities as you like for each platform).

Another link to read more on yearn specifically is Andre's blog (creator and one of the lead devs) https://andrecronje.medium.com/ it is one of the interesting projects as it is growing organically, with a mix of public and anon devs, with no specific management, and no VC investment behind it (like some other defi projects), just people coming together an building interlinking code as public goods.

fsewe20 | 5 years ago | on: Ethereum 2.0 launches

https://twitter.com/arbingsam/status/1333669126125068289

Heres one novel idea I have just seen in my twitter feed for a yearn strategy[1].

You deposit tokens to the yearn contract which employs different strategies to lend/spend those tokens in ways that generate profit for everyone participating in the contract.

This strategy is taking up the rest of the bets that trump wont be re-elected on a decentralised prediction market (blah blah see crypto is all gambling). This ability to be able to program collectively program money is fascinating (and is scary with bugs, but with time hopefully becomes more robust).

[1]https://yearn.finance/vaults

fsewe20 | 5 years ago | on: Ethereum 2.0 launches

Remember Bowie talking about the internet in '99 "I think we're actually on the cusp of something exhilarating and terrifying.... Its an alien life form, just landed."[1]

Many of us feel the same about programmable money. It seems pretty interesting, unexplored, and has exciting, scary potential. It seems like a great place to build community groups openly, fairly, freely(in the libre sense). It reminds me of being a kid in the 90s dialing up to the internet and discovering peoples homepages and forums, sharing ideas and playing with new ways of organising and working together, playing and having fun. The ethereum dev community is inspiring to me.

But you dont have to agree that it is world changing, thats ok. I think there is value in it and will work to prove you wrong! We're all on the same side in the end.

[1] https://www.youtube.com/watch?v=LaHcOs7mhfU

fsewe20 | 5 years ago | on: Ethereum 2.0 launches

I think ewasm is a bit up in the air, may come along at some point but i think the developer tools built up on the evm (and dev knowledge of evm) isnt going to be quickly replaced.

fsewe20 | 5 years ago | on: Ethereum set to become first blockchain to settle $1T in one year

I get paid in dai in the ethereum system and that keeps a roof on my head and the lights going, along with a few other hundred?thousand? people.

I still dont get why hackernews always has a bad reaction to cryptocurrencies. Disruption and innovation is praised, unless it challenges money. Experiments with computing and code is praised, but only if its a toy language.

We're all on the same side :) just playing with different ways to do things.

fsewe20 | 5 years ago | on: Coordination, Good and Bad

I get paid in $DAI. So for me my ethereum wallet it my main back account. I cash some to my fiat bank account for day to day purchases, but mostly I stay in crypto which allows me a decent savings account via things like makerdao.com yearn.finance or providing liquidity for decentralised exchanges.

Why? because last year my bank sent me a letter saying my interest would be reduced to 0.01% and then this year they reduced it to 0.00%.

It might seem high risk to some people, but I have no pension and massive student loans and I don't see how what my bank offers is going to help me change that in any meaningful way, I really have nothing to lose at this point. And from what I can see (as someone in their late 20s) a lot of people my age are in the same situation and can't find a way out.

So why not try something different? Why not be inventive? I feel like when you are young you are told to be bold and dream big and invent new ways of doing things, be idealistic and try improve the world. But for some reason if its to do with money then we should accept that everything is fine and smarter people know what they are doing. I've met millionaire traders in charge of the savings of thousands of people, and can say I would much rather be in the ethereum community, and much rather have financial systems be opensource, borderless, and free.

fsewe20 | 5 years ago | on: Coordination, Good and Bad

How about his work with Glen Weyl? (teaches economics at Princeton, they wrote a paper together on quadratic funding)

fsewe20 | 5 years ago | on: A leap of faith: Committing to open source

..which is a real shame, as there are very talented people working on public goods who don't have that "hustle" and could do with the support.

Open source / Free software has been valued over $400 billion, and supports our entire economy, funding developers shouldn't be a problem.

Open source / Free software is a public goods issue, and we should be looking for the best ways to support them.

Quadratic funding could be a useful mechanism for this:

https://wtfisqf.com/

fsewe20 | 5 years ago | on: Apple just kicked Fortnite off the App Store

It is interesting that we criticise monopoly in one form (apple), but encourage it in another ("It is the user's property"). If we go down the logical road of "why monopoly is bad" it is because property may not be utilised in the most effective way for the common good, all property is monopoly.

I wonder if auction based app store costs are a possible solution to the increasing developer frustration with Apple? Self Assessed Licenses Sold via Auction across many marketplaces may help combat monopoly.

I can see Apple (with their privacy angle) moving towards facilitating users selling their data/data unions. Perhaps some other radical-liberalism ideas could come through too.

https://www.radicalxchange.org/concepts/

https://blog.radicalxchange.org/blog/posts/millennials-zoome...

fsewe20 | 5 years ago | on: Bitcoin is more like ham radio than the early internet

Totally agree. The amount of innovation in defi over the past year is stunning, the people still dismissing cryptocurrency as as some bubble/fad are missing out on really interesting tech both in finance and governance.

A lot of people in the space made a lot of money a couple years back (on what was a bubble) but that means they are now are set for life and can dedicate themselves fully to working on the tech, and its all starting to click together.

You don't have to buy into it with your money if you dont want too, you can still explore the tech.

https://www.radicalxchange.org/concepts/ https://gitcoin.co/

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