miguelmota

Social stratification, genetic elitism, genetic profiling, bio-surveillance, etc. are all very real concerns. Brave New World will become non-fiction.

If someone sends physical cash to a person across the world, is there an undo button?

The money supply managed by an on-chain protocol where it’s fully open, trustless, and predictable is 100% times better then a small group of people at the treasury deciding to print money and inflate peoples savings always.

Then what is the future? Certainly not the government going haywire with the printer. It’s impossible to trustlessly verify the exact number of US dollars in circulation, but it’s trivial to do with cryptocurrencies.

> Is there any crypto out there without humans ?

What OP is referring to is that you don't need to trust people if the dex is on-chain and verifiable. FTX was a non-transparent and insolvent centralized exchange which wouldn't be possible if it was on-chain because anyone can see the funds that are available and the protocol would not allow leverage backed by non-existing collateral.

> Is there an undo button to reverse the transaction?

No there isn't. This is a double edge sword.

> All financial systems involve humans

To a degree, but centralized exchanges have more knobs controlled by humans while an on-chain dex and just be deployed once and require no human intervention. A dex can be audited fully on-chain and anyone can see if the contract has any master holder keys. The FTX fiasco is because they own all your crypto because they have the master keys. The future of finance is people being in charge of their own money and where no unexpected entity can arbitrarily inflate the supply, which is only possible with crypto.

It's a reality to the people of Latin America who use stablecoins on Ethereum to hedge against their own country's inflation.

> I still cannot find any legitimate use cases for blockchain

Blockchains solve the double-spend problem. Allows for scarcity in the digital realm. Ethereum is a platform for decentralized finance, anyone can borderlessly lend and borrow in seconds. Endless possibilities.

Stablecoins are mostly what people use for payments. ETH is what's staked on the beacon chain.

Yes, it did work. No missed slots and high participation rate. Exceeded expectations. Congrats to all the devs!

Why do you use a pseudonym on here instead of your real name? Oh right because you care about privacy. Same reason tornado cash exists. Playing the ML card is like saying Tim Berners-Lee invented the internet to facilitate digital crime.

This is an interesting experiment that I'm excited about. The fact that a financial flash mob is possible is incredible. Anybody from anywhere can participate and have voting power by joining the DAO. Regardless of the outcome, it's good to see the convergence of DAOs into meatspace.

If something is hard in theory, it's 10x harder in implementation. Complex systems have a lot of 'unknown unknowns' that can't be forecasted. Ethereum is $300B+ live network so every small change takes time to research, test, and implement. Migrating from PoW to PoS is like swapping out the engine of an airplane in mid-air.

Stakers in a PoS system are incentivized to do what's best for the network. It wouldn't make sense for them to stake large amounts of funds and do something that could make Ethereum less valuable. The current marketcap of Ethereum is $325B, so a 51% attack in a PoS system means the attacker would need $165B. Even if a really bad attack occurred, the majority of validators can decide to fork (eg DAO fork). The social layer of Ethereum is a hidden force and I believe the majority are honest actors that would support any Ethereum improvement proposals that make the network more fair and decentralized.

We wake up and look at the small rectangle.

Go to work and stare at the medium rectangle.

Come home and watch the big rectangle.