Re:Fe – An emerging smart contract language for the Ethereum...
by rglullis on Wednesday December 08, 2021 @07:24PM
(#29492399)
(I started writing this, but I realized that you are not going to change your mind no matter what new information gets presented to you. So do whatever you want with it)
The whole thing about "L2 is a MEV-generating machine". Fucking hell, dude. If someone tells you (like I did in another thread) that you can not make an international transaction without losing at least 7% of the value, and that I already have made and received payments on layer-2 systems for fractions of a cent, what is so hard to acknowledge that the people doing it are not idiots?
Setup costs are one-off and independent of the value you are transferring off-chain. They are amortized through all the lifetime of your "account" and the transactions you made.
Paypal does not work like that. Credit cards do not work like that. Loopring does. Zksync does. Even if all these systems did was to make transfers of stabletokens from A to B, they would be already miles ahead of the status quo.
Yes, there are still "middlemen", but they are both (a) cheaper compared with existing methods and (b) part of a global market with no monopoly. Almost all of the tech that is being adopted is open-source, so there is no large competitive advantage that one can establish over the other. If a roll-up starts trying to jack up fees, others can basically make a clone and take all of the userbase overnight.
The whole thing about "L2 is a MEV-generating machine". Fucking hell, dude. If someone tells you (like I did in another thread) that you can not make an international transaction without losing at least 7% of the value, and that I already have made and received payments on layer-2 systems for fractions of a cent, what is so hard to acknowledge that the people doing it are not idiots?
Setup costs are one-off and independent of the value you are transferring off-chain. They are amortized through all the lifetime of your "account" and the transactions you made.
Paypal does not work like that. Credit cards do not work like that. Loopring does. Zksync does. Even if all these systems did was to make transfers of stabletokens from A to B, they would be already miles ahead of the status quo.
Yes, there are still "middlemen", but they are both (a) cheaper compared with existing methods and (b) part of a global market with no monopoly. Almost all of the tech that is being adopted is open-source, so there is no large competitive advantage that one can establish over the other. If a roll-up starts trying to jack up fees, others can basically make a clone and take all of the userbase overnight.