Re:The Edited Latecomer’s Guide to Crypto
by twox2 on Friday March 25, 2022 @04:00PM
(#30806476)
There are financial mechanics that exist only in the scope of DeFi and not in traditional finance. It actually IS new in a lot of ways and skilled folks are teaming up to make a killing, not just experienced traders. Take a look at what's happening in the "MEV" space. None of this existed in traditional finance.
[ Parent
| on HN ]
Sure it does. Front-running is not new. Payment for order flow is not new. Altering the recent transaction history (the thing blockchains are supposed to prevent) is a criminal offense in other markets.
Re:The Edited Latecomer’s Guide to Crypto
by dogman144 on Wednesday March 30, 2022 @10:32AM
(#30855724)
you're mistaking the mempool with tx history unless you believe they're essentially the same? Issue there if so is the mempool isn't consistent from node-to-node so can't call it a tx history.
It's more like pending TXs which end up landing in a certain order that's possibly different once confirmed (which current banks do with checking/debit TXs and isn't a criminal offense).
Re:The Edited Latecomer’s Guide to Crypto
by dogman144 on Friday March 25, 2022 @05:13PM
(#30807102)
Ya this is more my point. Taking traditional algorithmic trading skills into a place specifically designed for it and with new market mechanisms.
Whoever spends some time building DeFi/L1 protocols is going to make a killing jumping over to Jump/Jane Street/HRT in a few years with that knowledge.