gge

What are you talking about? Chainlink is used a ton, literally powers most of defi. Its used to secure 10s of billions of $.

bullish

yup

> the supposed point of crypto is to reducing the reliance on, and grifting from, companies like Coinbase

Yes, that is still the case? Decentralized exchanges like Uniswap are dominating (over $1B volumes daily) and growing very rapidly. Crypto is and always has been about decentralization.

Settlement != payment

Are you agreeing or disagreeing that it is a threat? Linux did take a ton of market share from Microsoft on the server side.

Linux is also not a good analogy IMO, because Uniswap has a lot of direct retail/consumer usage whereas Linux isnt used directly by the average person.

Nope, wont happen. https://medium.com/dragonfly-research/ethereum-is-now-unfork...

Disagree. A16Z is the exception, not the rule (and I can only see 3 defi protocols in their portfolio: COMP, UNI, MKR). What defi projects has Sequoia invested in?

There are many VCs who are into crypto that have invested in smart contract platforms (i.e. ETH killers), but missed out on investing in the actual applications built on Ethereum (Defi protocols). The applications have heavily outperformed the ETH killers. USV is an example of this, pioneering the fat protocol thesis and completely missing out on actual applications.

While there are SV based crypto companies like Coinbase, the majority of things happening in crypto happens outside of SV. Binance, FTX, Bitfinex, Bitmex, Bitstamp are all non US. Out of the top 10 defi projects, only 2 are SV based and the majority are non US based.

In crypto SV is not the center at all, which is very different to the internet where SV is obviously the center

False, smart contracts have so much demand that Ethereum gas prices have skyrocketed in the past year

> happy to use smart contracts where the use of centralised oracles

There are decentralised oracle networks like Chainlink which secure $10s of billions of dollars locked in smart contracts

Whenever crypto comes up on HN all the comments are either copium, Tether, or people saying "I'm not wrong its the market thats wrong".

Amazing to see how the tech/SV mainstream completely missed out on Defi, and are now missing out on NFTs.

This comment explains HNs relationship with crypto perfectly: https://news.ycombinator.com/item?id=24310174. Good quote from @balajis: "Crypto is what comes after Silicon Valley"

> Stellar

kek

True. But in this case the guy doesn't just think that Bitcoin will go down, he thinks it will go down to 0. If you think its literally worthless, shorting could be a pretty good bet.

> It's #4 / #5 by market cap

Yeah, that doesn't mean anything. Half the coins in the top 30 are shit or outright scams.

Shit: ADA, XRP, LTC, BCH, XLM, DOGE, EOS, NEO, NEM, TRX

Outright scams: BSV, IOTA, THETA, VET

> It's about to take over ethereum's market share once smart contracts are released later this or next month.

> It's built from scratch with some strong academics in the CS field working on R&D.

LOL

Not saying you can't make money trading shitcoins and scams, but if you are actually investing in ADA (which I'm guessing you are since you genuinely seem to believe in it) just retire from crypto.

> Why are you so sensitive to me mentioning it?

Cause its a shitcoin and I'd prefer people don't lose their money

Good boy. At least you're putting some skin in the game unlike the other Tether truthers and Bitcoin bears here.

Cardano is obviously a shitcoin. This should be immediately obvious to anyone in tech

its 2021 and the 2017 shitcoins are still being shilled

Imagine being a HN reader and shilling Cardano. Do you know anything about technology?

Why are you shilling Nano? No one uses it, and no one will ever use it.

Cope

Agreed, HN people are in the middle of the IQ spectrum.

Here is a good piece explaining why the data backing that articles arguments is BS: https://medium.com/@nic__carter/assessing-bitcoins-liquidity...

Wow, Elon got scammed to buy Bitcoin?

What does the ex-CEO and former largest single shareholder of PayPal know about digital money?

What does the world's richest man know about money?

Apparently not much.

Definitely not more than you, since you know that Bitcoin is a scam.

If you think Bitcoin has no value, why not short it? Bet on your beliefs. I think it has value, which is why I'm long.

Skin in the game > debate

> people making investments with bitcoin backed loans

There already are Bitcoin backed loans offered by both decentralized services (like Aave, Compound, Maker etc) and centralized services (like BlockFi, Celsius etc). They get real usage. Aave, Compound and Maker have $17B worth of crypto deposited in them as collateral. BlockFi has a $2.85B valuation.