BC CRYPTO
Saved by @Shubham51ngh

I cannot believe this content is free.

My notes from @Arthur_0x and @zhusu's podcast. Great catch up on everything going on in DeFi.

PS - This is extremely niche so please feel free to skip if you're not interested in

 TLDR:

1. Build for UI/UX; not solely for technology/economics. They’re more important than you’d expect. See Balancer.

2. Involve community. They’ll do more than you’d expect. See Sushi.

3. Creative governance solutions & long term orientation will win. See SNX
Part 1: Decentralized Exchanges

$UNI (Uniswap)
$SUSHI (Sushiswap)
$ZRX (0x)
$BNT (Bancor)
$KNC (Khyber Network)
2021 Dexes Takeaway.
Part 2: Lending Protocols

$AAVE (AAVE)
$COMP (Compound)
$MKR (Maker)
(@placeholdervc article referenced above)

https://t.co/JWHXdGooTd
$SNX (Synthetix)
I *think* this is the blogpost referenced above. @Arthur_0x can confirm.

https://t.co/9jpEl8cqtk
$UMA (Universal Market Access)
Fin.

Notes are rough and were meant for myself but this podcast was so valuable I figured I'd publish it. Apologies if I mis-summarized anywhere @zhusu @Arthur_0x... please feel free to correct, thanks!

PS - Part II is out next week.
@zhusu @Arthur_0x Some collab suggestions:

@BanklessHQ pls have @Arthur_0x on to discuss Layer 2 impact on DeFi protocols?

@RaoulGMI @AshBennington pls have Arthur/Su Zhu on to discuss the hybrid CeDeFi thesis?

3. @twobitidiot please have Arthur/Su Zhu to compare Messari v. DeFiance notes?

More from Crypto

Jonty Wareing
Jonty Wareing
@jonty
Out of curiosity I dug into how NFT's actually reference the media you're "buying" and my eyebrows are now orbiting the moon

Short version:

The NFT token you bought either points to a URL on the internet, or an IPFS hash. In most circumstances it references an IPFS gateway on the internet run by the startup you bought the NFT from.

Oh, and that URL is not the media. That URL is a JSON metadata file

Here's an example. This artwork is by Beeple and sold via Nifty:

https://t.co/TlJKH8kAew

The NFT token is for this JSON file hosted directly on Nifty's servers:

https://t.co/GQUaCnObvX


THAT file refers to the actual media you just "bought". Which in this case is hosted via a @cloudinary CDN, served by Nifty's servers again.

So if Nifty goes bust, your token is now worthless. It refers to nothing. This can't be changed.

"But you said some use IPFS!"

Let's look at the $65m Beeple, sold by Christies. Fancy.

https://t.co/1G9nCAdetk

That NFT token refers directly to an IPFS hash (https://t.co/QUdtdgtssH). We can take that IPFS hash and fetch the JSON metadata using a public gateway:

https://t.co/CoML7psBhF
CRYPTO
Eric Tymoigne
Eric Tymoigne
@tymoignee
This "bitcoin is better than gold" statement going around once more show that bitcoiners have no clue about monetary history and what the purpose of a monetary system is. A thread.

1- Metal standards were never inflexible; they could not in order to operate properly. Qty of metal was changed, usually lowered, to accommodate for changing economic conditions: price of metal, scarcity of coins, financial needs of economic units (state and private), etc.

2- The purpose of a monetary system is to make the rest of the economy go. It is there to accommodate financial needs. The more elastic one can design the supply, the better.
That doesn't mean that monetary creation & destruction shouldn't follow any rules & have no constraint.

3- Rules and constraint impose depend on economic system and evolve over time has we learn how to manage better the system. In a capitalist economy, the private sector is subject to the profitability constraint. We have learned from experience that this is not enough.

3 (ii) Financial stability requires a "hedge finance" constraint for most private agents: profitability should be judged on income gains, not capital gains.
In the government sector, the constraints are ressource availability and political constraints.
CRYPTO
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Simon DeDeo
Simon DeDeo
@SimonDeDeo
Someone tosses a coin ten times; it comes up heads every time. What's the probability it comes up heads on the next toss? (Pretty darn high—part of @nntaleb's work is unprogramming you from your high-school rules of thumb.) Now consider the (related) Gambler's fallacy...

In this case, it's a theory about compensation: the worse one's luck is, the more likely it is to see a reversal. On the surface, it's irrational. The more bad luck you have, the more you accumulate evidence that the system is rigged.

But there's also an anthropic component. If the luck is bad enough, it starts to become inconsistent with your survival. You've accumulated evidence for correlations in the environment, but these correlations (may be) inconsistent with (people like you) being in this environment.

An example. You're in a city where everyone takes public transport. You encounter a string of bad delays. It's reasonable to conclude they'll end—otherwise people wouldn't take public transport. It's unlikely that you happened to show up right when the network collapses.

Of course, that's a bad heuristic in a casino, which relies on a constant influx of losers. But in other environments, particularly with persistent populations and no evidence for sudden changes in the underlying laws, it makes sense.
CRYPTO
Art Hyde
Art Hyde
@JekyllCapital
1/ A thread on Nexgen’s Arrow & the #uranium cycle ($NXE)


2/ Given the scale and cost structure of Arrow, it makes sense that investors are intensely focused on its delivery timeline. This thread will discuss possible timelines, current market expectations (i.e., what’s “priced in”) & how different Arrow scenarios will impact the mkt.

3/ As you can see from the litany of responses to Michael’s tweet, there is great skepticism in the market regarding Arrow’s timeline. This is largely due to a bearish narrative conveyed by competing CEO’s whose assets only hold value if Arrow is substantially delayed.

4/ Those who played “King of the Hill” as a child would remember that it is the person at the top who is constantly attacked, not the kid sitting at the bottom of the hill in the mud. No one cares enough about that kid to attack them. This is a good parable for $NXE & Uranium.

5/ First a quick note on “this cycle” – Segra generally defines this cycle as the deficits forecasted from the mid-2020s to late-2030s. When people imply an asset producing in the mid-to-late 2020s will “miss the cycle”, they clearly have not done any real S/D modelling.
CRYPTO
Patrick O'Grady
Patrick O'Grady
@_patrickogrady
0/ Yesterday was my last day as the Rosetta Technical Lead at @coinbase. Starting tomorrow (crypto never sleeps, right?), I’ll join @el33th4xor, @kevinsekniqi, and the rest of the talented team at @avalabsofficial in building @avalancheavax.

1/ When I joined Coinbase out of college, I thought I “knew” blockchain. Boy was I wrong! Standardizing and scaling asset addition at Coinbase while collaborating with the top blockchain engineers at the top projects by market cap flipped my world upside down.

2/ I don’t think there is any other place that ramps you up into the magical moon math of crypto as fast as @coinbase and I firmly believe it is the best place for any crypto engineer to start their career. Good news! They're hiring!

3/ To all my former coworkers, I want to say thank you for everything you’ve taught me. I’ll never forget all the time and energy you spent helping me become a better engineer and a better person. I have no doubt that you’ll continue pushing Rosetta forward for years to come.

4/ For the next few months, I’ll remain an advisor to the Rosetta project. I will lend a hand to asset issuers implementing Rosetta for the first time and chime in on high-level design decisions.
CRYPTO

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Anu Satheesh
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Guruvayur Sri Krishna & Coconut with Horns.
#Krishnaleela
#Bhakthi
🕉
We’ve all grown up listening to stories of Shri Krishna. This one is a famous story of Shri Krishna in Guruvayur Temple, also called Dakshina Dwaraka.


There lived a villager who planted coconut saplings and had promised that he would offer the 'first coconut' from each of his coconut trees to "Guruvayurappan". When the trees started to yield coconuts, he collected the first coconut from all the trees in a sack 👇


and set forth to Guruvayur.

On the way he was stopped by a robber who asked all the items in the sack. The villager told the robber that the coconuts in the sack belonged to Guruvayurappan and so he was unable to hand it over.
@SriramKannan77 @Jayalko1


The robber with anger asked the villager "Is Guruvaurappan's coconut any different? Does it have horns ?".
Saying so the robber pulled the sack forcefully out of the villager's hand, and coconuts came out..👇


To their astonishment each and every coconut in the sack had horns! Even today, the coconut with horns are displayed in the temple for devotees to see.

Below Picture is not original, as we cannot take photos inside temple.
Hare Krishna
Guruvayurappa
🕉🕉🕉🕉🕉
Shubham
ALL
Homestays & Villas
Homestays & Villas
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Best resort on the Ganga at Rishikesh
TRAVEL , TRAVELINDIA , PLACES 2TRAVEL
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Patrick McKenzie
Patrick McKenzie
@patio11
So the cryptocurrency industry has basically two products, one which is relatively benign and doesn't have product market fit, and one which is malignant and does. The industry has a weird superposition of understanding this fact and (strategically?) not understanding it.


The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.

This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.

The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."

This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.
CRYPTO
Kaspars Ozolins
Kaspars Ozolins
@lettlander
THREAD: Meditations on marriage metaphors in Ruth

The book of Ruth is, of course, a story about a beautiful marriage. But even before the courtship and the wedding and the important genealogy at the end, we find interesting language that is strikingly reminiscent of Genesis 2:24


That important verse reads:

'Therefore a man shall leave [יַֽעֲזָב] his father and his mother and hold fast [וְדָבַ֣ק] to his wife, and they shall become one flesh.'

The verb עזב can be quite strong in force. For example, Joseph leaves behind [וַיַּעֲזֹ֤ב] his garment as he flees from Pharaoh's wife's sexual advances. Countless times, Israel is depicted abandoning the LORD, for example in Judg 2:12 [וַיַּעַזְב֞וּ], and going after other gods.

Likewise, the verb דבק is rather striking. Lot is mortified of disaster overtaking him [תִּדְבָּקַ֥נִי] as he flees from Sodom. Israel is commanded in Deut 10:20 to cling fast [תִדְבָּ֔ק] to the LORD and serve him and swear by his name.

Together they illustrate how radical God designed marriage to be. Marriage is a real severing of family relations in order to form a new, permanent bond with another human being.

Something very similar to this takes places in Ruth's life.
HISTORY
Groww
Groww
@_groww
You want to buy a house.

You take a loan from the bank.

The bank asks you, “what if you don’t pay back?”

You say, “take my home and sell it”.

(Thread)

That makes sense. The bank gives you a loan and in case you don’t pay, the bank will take over your house and sell it and recover its money.

That’s collateral.

Banks also lend money to big corporations. With them, banks don’t always have collateral.

So a loan where the bank has collateral is considered safer for the bank.

In the early 2000s, the banks in the USA were giving out loans to people for buying houses.

The economy had just recovered from the tech bubble in 2000 where many banks had given out loans to businesses that had shut down.

In that backdrop, the banks found giving home loans safer.
ALL , 2008 CRASH , 2008 RECESSION


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