COINBASE for Crypto has come

Clinamenic

Clinamenic

Binary & Tweed
yyaldrin said:
Why is cardano doing so good last few weeks?
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Its in the process of launching smart contract functionality, which as @polystyle says will allow it to really compete with Ethereum. Having smart contracts will allow Cardano to support DeFi protocols like how Ethereum supports Uniswap.

I'm not clear on the status of this launch though. I think their "testnet" (seems to be a sort of dummy/test-drive version of the actual blockchain) has already launched, but I don't think the "mainnet" (the actual Cardano blockchain) has it yet.

I think the price peaking is in anticipation of this, which would put Cardano on the front lines of blockchain sophistication (past Ethereum which would still have a considerably more established community and "ecosystem" of protocols).

You can think of these blockchains as ranges (i.e. "home on the range") and protocols as establishments on the range.

One of the profound things about Ethereum/Cardano (and yes even Bitcoin) is that you don't need permission to start building a protocol on top of them. You just need the know-how.
 
P

polystyle

Well-known member
Clinamenic said:
Its in the process of launching smart contract functionality, which as @polystyle says will allow it to really compete with Ethereum. Having smart contracts will allow Cardano to support DeFi protocols like how Ethereum supports Uniswap.

I'm not clear on the status of this launch though. I think their "testnet" (seems to be a sort of dummy/test-drive version of the actual blockchain) has already launched, but I don't think the "mainnet" (the actual Cardano blockchain) has it yet.

I think the price peaking is in anticipation of this, which would put Cardano on the front lines of blockchain sophistication (past Ethereum which would still have a considerably more established community and "ecosystem" of protocols).

You can think of these blockchains as ranges (i.e. "home on the range") and protocols as establishments on the range.

One of the profound things about Ethereum/Cardano (and yes even Bitcoin) is that you don't need permission to start building a protocol on top of them. You just need the know-how.
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Exactly - re: last paragraph.
Also we note cardano was made by an x Ethereum guy.
That tells you something about the 'why c now ' query.
That guy may not be universally liked / loved - but he did up, leave and got on w the new.
Ethereum's moniker for their um, thing - gas - is telling and may haunt them.
As in gas ware.
 
yyaldrin

yyaldrin

in je ogen waait de wind
Clinamenic said:
Its in the process of launching smart contract functionality, which as @polystyle says will allow it to really compete with Ethereum. Having smart contracts will allow Cardano to support DeFi protocols like how Ethereum supports Uniswap.

I'm not clear on the status of this launch though. I think their "testnet" (seems to be a sort of dummy/test-drive version of the actual blockchain) has already launched, but I don't think the "mainnet" (the actual Cardano blockchain) has it yet.

I think the price peaking is in anticipation of this, which would put Cardano on the front lines of blockchain sophistication (past Ethereum which would still have a considerably more established community and "ecosystem" of protocols).

You can think of these blockchains as ranges (i.e. "home on the range") and protocols as establishments on the range.

One of the profound things about Ethereum/Cardano (and yes even Bitcoin) is that you don't need permission to start building a protocol on top of them. You just need the know-how.
Click to expand...
why do other cryptocoins not also implement these smart contract functionalities? is that something very hard to code? do you need very brilliant people for this? or is that patented technology?
 
Clinamenic

Clinamenic

Binary & Tweed
yyaldrin said:
why do other cryptocoins not also implement these smart contract functionalities? is that something very hard to code? do you need very brilliant people for this? or is that patented technology?
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I think part of the difficulty depends on how established the blockchain already is. Like its harder to make Ethereum go to proof of stake than it is to just build a new proof-of-stake blockchain, because of the activity, and high financial stakes, on Ethereum.

But about smart contracts, I don't think the generics are patented/proprietary, just perhaps some of the protocols built with them.

Plenty of other blockchains have smart contracts (Solana, Algorand, I think Hedera Hasgraph which isn;t technically a blockchain, etc), and there are various programming languages for smart contracts (I think Solidity is just the most established, but I could be wrong).

But yeah I think the major thing here is that it is harder to renovate an active blockchain than it is to just build a better one, but sometimes the community/activity of an established blockchain gives it an edge over the less established albeit more technically sophisticated blockchains.

For example, Cardano seems more technically sophisticated than Ethereum, but Ethereum has a way more established ecosystem which lends it profound momentum - at least from my perspective. But I'm still 99% illiterate when it comes to actually reading these things in their own terms.
 
Clinamenic

Clinamenic

Binary & Tweed
Smart contracts are just algorithms that take wallet addresses (and their balances) as objects and plug them into complex conditional arrangements. A blockchain is just a massive ledger with 100,000's, 1,000,000's, 10,000,000's etc addresses that are all just fractionally exchanging units across their balances.

Relative to the blockchain as infrastructure, smart contracts (and the protocols they comprise) are a sort of superstructure. But relative to the average user of this technology, both will be infrastructural and effectively abstracted into simplicity and usability.
 
Clinamenic

Clinamenic

Binary & Tweed
But any blockchain that is to be taken seriously needs smart contract functionality, or must otherwise have some bespoke use case that doesn't need smart contracts.
 
Clinamenic

Clinamenic

Binary & Tweed
Another front to watch, if you're interested, is how blockchain is adopted in the global south. Seen a lot of big numbers thrown around, and while I don't have a reputable source to cite it seems clear that nations with broken/hyperinflated economies can and do benefit from this technology, just not in ways that are as established and ubiquitous as they need to, and will, be.

Some argue that the global south will be the first to systematically appreciate blockchain, seeing as there seems to be a relative absence of financial incumbency native to most of these areas.
 
luka

luka

Well-known member
On 14 July 2021 the creator of “DogeCoin,” Jackson Palmer, took to Twitter to say the following:


After years of studying it, I believe that cryptocurrency is an inherently right-wing, hyper-capitalistic technology built primarily to amplify the wealth of its proponents through a combination of tax avoidance, diminished regulatory oversight and artificially enforced scarcity.
Despite claims of “decentralization”, the cryptocurrency industry is controlled by a powerful cartel of wealthy figures who, with time, have evolved to incorporate many of the same institutions tied to the existing centralized financial system they supposedly set out to replace.
The cryptocurrency industry leverages a network of shady business connections, bought influencers and pay-for-play media outlets to perpetuate a cult-like “get rich quick” funnel designed to extract new money from the financially desperate and naive.
Financial exploitation undoubtedly existed before cryptocurrency, but cryptocurrency is almost purpose built to make the funnel of profiteering more efficient for those at the top and less safeguarded for the vulnerable.
Cryptocurrency is like taking the worst parts of today’s capitalist system (eg. corruption, fraud, inequality) and using software to technically limit the use of interventions (eg. audits, regulation, taxation) which serve as protections or safety nets for the average person.
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W

wild greens

Well-known member
My favourite thing about crypto is that no-one talks about the elephant in the room. It's a way to buy drugs, launder money and acquire illicit services on the Internet. Thats why it exists.

Maybe 5-10% of these transactions and NFTs etc are legitimate, legal, use. The rest of it is washing money and there are a lot of ponzi and "exit" scams too.

I have no evidence to back up that statistic but it is definitely true.

Whether you view all that as legitimate is upto you. These things will exist regardless
 
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wild greens

Well-known member
15 pages of "this is changing the world" in this thread or whatever. How much monero has been traded this week, its 95% telegram or dark market
 
luka

luka

Well-known member
im sure they did too but perhaps this is a safer and more convenient way of doing those things and, by expanding the market, more lucrative.
 
Dusty

Dusty

Tone deaf
I just find the concept of blaming a technology for the ills of human nature misguided.

Also, I strongly suspect that buying drugs and acquiring illicit services makes up a very, very small percentage of crypto use today, the novelty of the silk road has long since worn off. Laundering money on the other hand, is one of the main drivers behind the NFT price surge.

We know that money laundering was a big part of HSBCs business model for years. $881 million for one drug cartel?
 
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wild greens

Well-known member
Im not "blaming" anything

That's just what the market is used for. If it wasn't coin it would be something else

It's an innovative technology that's been picked up massively by the grey market, no point pretending otherwise
 
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