Re:Crypto Market Crash Leaving Bankrupt Startups in Its Wake
by simonsaidit on Sunday December 09, 2018 @11:41AM
(#18641718)
https://medium.com/cryptolinks/maker-for-dummies-a-plain-eng...
A stablecoin run in a contract is pretty amazing and becoming more and more popular.
Re:Crypto Market Crash Leaving Bankrupt Startups in Its Wake
by ac29 on Sunday December 09, 2018 @12:38PM
(#18642080)
DAI, like other stablecoins, isn't really all that stable - right now it costs about $1.02 to buy $1 worth. And, it's frequently been over 5% away from $1: https://coinmarketcap.com/currencies/dai/#charts
Most "stable" coins are trading at over $1 right now, presumably as people try to flee sinking cryptocurrencies and have no practical and/or legal means to turn them into real money.
Re:Crypto Market Crash Leaving Bankrupt Startups in Its Wake
by chrisco255 on Sunday December 09, 2018 @06:38PM
(#18644037)
It doesn't have to always be exactly $1. You obviously can't control markets and what people sell things for...but DAI has mechanisms in it's protocol so that the price trends to $1. It's incredibly fascinating, it's decentralized, permissionless, loans with an economic system backing it. It's very novel tech and a huge achievement.
The iPod was released at that point and you could hold it in your hands and see for yourself.
Can you give me some examples of real world applications of Ethereum's protocol that you think are being undercounted?
I recently looked for some using smart contracts but all I see is hype and a lot of VC/bitcoin money thrown at things that haven't been able to deliver and don't even need blockchain. I saw Dubai putting property records into a blockchain but not sure it has smart contracts. Perhaps something will come up in the future, but what does it have to do with excessive crypto-profit and hype money being put into startups that lack fundamentals? I am not saying experimentation is bad, but I felt like we were/are reaching dotcom pets.com levels of hype and mania.
If you ask me, HN mostly seems to be saying that the hype has been out of control over blockchain. I don't see people saying blockchain technology is lame or unreliable, do you? I have seen comparisons of bitcoin to tulip mania and ponzis, but that's not the same as discounting blockchain technologies.