Uniswap-style automatic market making for everything. Every possession you have, constantly marked to market by ~2040.
The defi matrix
As each asset class goes on-chain, it can be stored in a digital wallet. And it can be traded against other such assets. Not just cryptocurrencies, but national digital currencies, personal tokens, etc.
We’re about to enter an age of global monetary competition.
Uniswap-style automatic market making for everything. Every possession you have, constantly marked to market by ~2040.
This is an interesting point. Cash doesn’t make you money. In fact, it can lose you money in an inflating environment.
Reliable, 24/7 mark-to-market on everything is hard — but if achieved, means less % of assets in cash. https://t.co/Hg7W32iCDY
Thus less use for currencies as people can more easily store their wealth into assets and easily trade them.
— Pierre-Yves Gendron (@pierreyvesg7) February 24, 2021
- All assets trade against all assets in the defi matrix
- Automated market makers give liquidity for rare pairs
- Everything is marked-to-market 24/7
- Value of cash drops, as you can liquidate instantly
- The new no-op is to keep your assets in BTC
Though in practice this may mean WBTC/RenBTC [or ETH!] rather than BTC itself.
Total global liquidity for everything via automated market makers will drive the world to minimize national currency holdings.
Because the scale-up of AMMs & yield farming will allow anyone to instantly get a better return than holding cash!
But no more than that. Every excess unit of fiat beyond the necessary minimum goes into crypto to seek higher returns in the defi matrix.
It all becomes arbitrage.
Maybe you can constantly find a better job too...
https://t.co/NhCP1AGNzu
And what follows is the end of the bullshit job. What you do has tokenized and appreciable value, since otherwise, by definition, that capital could be earning immediate yield. There\u2019s a mark-to-market cost to bullshit.
— manhattanbeachproject (@manbeachproject) February 25, 2021
From drudgery to flourishing.
More from Bitcoin
https://t.co/cv4UqsaVAK
That being said I hold some Doge @blockio in an "A-" address myself after 0. 1. "9-" versions :). Don't believe Bitcoin Core the Coin (Utility) is the only visible value on Core chain. Color me crazy. I believe in script. And FOSS that is used to export📜
And that's just a guy @MeniRosenfeld who put his identity and ideas out in the public to build a Web of Trust back when the web was much less of a safe place. His identity at stake and the implementation of a branch in source code by another unsung hero @killerstorm reveals value
Some of those who set up our bright future quietly implemented it in a branch on the main source code before it was officially the Bitcoin Core main repository, before a "Bitcoin Core" entity existed
Just because Bitcoin Core nodes dominate and do not read "smart" colored satoshis or display them, doesn't mean they do not exist on chain. The example of recreating P2WSH-over-P2SH address from BTC https://t.co/ZWSP2MO5bY wallets in Bitcoin Core Gold I shared proves -rescan's $
Back with another #FreeLoveFriday. Last time, we covered how Mastercoin/@Omni_Layer pioneered digital asset issuance on blockchains. Today, let\u2019s discuss @Chainlink and the vital role it plays in connecting blockchains to the real world. https://t.co/0poYIBtGrt
— Emin G\xfcn Sirer (@el33th4xor) January 22, 2021
In my thread about Mastercoin, I briefly touched on the vital role fiat-backed stablecoins play in crypto markets, but there’s a catch with them:
The counterparty risk of a third-party holding fiat in reserves.
Enter MakerDAO, which set out to create a decentralized, collateral-backed cryptocurrency, DAI, that would be “soft-pegged” to the U.S. Dollar using the power of algorithms. In crypto tradition, its supporters said trust game theory, not operators.
In 2017, MakerDAO published a whitepaper describing a system where anyone could create DAI by leveraging ETH as collateral to create Collateralized Debt Positions. Essentially, you take out a digital USD loan against your crypto.
The game theory of the system is structured such that DAI issuance is controlled to keep the price pegged to $1.00. In essence, it buffers the fluctuations of the underlying collateral to create a synthetic dollar bill.
in this thread, i'll quickly outline key data points on #bitcoin sentiment, demand, market structure, and macro conditions
disclosure: i own BTC, obvi. this is not investment advice. DYOR. further disclosures at
2/ let's start w sentiment ☺️
first, investor sentiment:
✅ @blackrock filed to add BTC to 2 funds, CIO has 400k price target
✅ @RayDalio's Bridgewater reportedly issuing BTC research report
✅JPM, Goldman, and other bulge brackets initiated research coverage
3/ next, trader sentiment:
🚨 most important indicator is the forward curve
normally BTC futures trade in backwardation after a price drop.
this time, the curve stayed in contango following drop, meaning market makers are bullish 🐂📈 despite funding rate increase!
4/ sentiment drives demand. so DEMAND next.
💸 let's talk fund flows
🤑 our research shows $359M of inflows into crypto products last week alone (https://t.co/6Kky96m3ob)
🤑 our @CoinSharesCo @xbtprovider ETPs saw $200M trading volume on jan
4/ let's talk bitcoin fundamentals
post-halving, 900 BTC mined per day, 312,000 this year.
👀 47M millionaires. 21M bitcoin.
🏆 collectibles selling at all time highs. bitcoin is the ultimate collector's item. (see
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https://t.co/enzOXDCogV
Project: Lifelog
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