almostkorean

قبل سنتينdiscuss

Appreciate the explanation, this is something I should know by now but don't

قبل سنتينdiscuss

I had to check your post history to see if you are my coworker because we had the exact same experience.

قبل 3 سنواتdiscuss

wow, I was still using the 2018 version of TAD and didn't realize they pushed updates in 2022. The 2018 version was still better than other tools I've tried, really happy with all the recent upgrades.

almostkorean

قبل 3 سنواتdiscuss

My grandpa did the same thing when he was 72 years old. Applied for food services, worked in the cafeteria but did extra stuff like DJ a radio show, drove a shuttle, and gave tours. A couple weeks into his stay, my grandpa ended up being the "most qualified" person at the station to take over the greenhouse (he had an agriculture degree which he hadn't used in 48 years) but ended up doing a good job. He travelled a lot but Antarctica was his favorite adventure.

almostkorean

قبل 3 سنواتdiscuss

Is there a database or something to lookup stats of car manufacturing failures? A family member of mine recently got a Model X and the back wheel came off while she was driving it on the highway. Never occurred to me that it might be an issue that happens with other manufacturers but would love to see the numbers.

almostkorean

قبل 4 سنواتdiscuss

This article has nothing to do with how crypto exchanges make money. They make money from trading fees. Let's say your claim about wash trades is true, why wouldn't the exchange make money from those fake trades?

To answer GPs question, legit exchanges do spend a lot of money and effort on keeping user's assets secure so it's maybe not as easy as it seems. But in the case of FTX, I totally agree. FTX was like 2nd or 3rd highest volume exchange and could have been a highly profitable business on it's own. Only SBF knows the answer to why that wasn't enough.

almostkorean

قبل 4 سنواتdiscuss

Rocket League is one of my all time favorite games because of this feeling. Also echo your feelings on the rank grind. After awhile I made a rule for myself that I would quit playing ranked after a total of two losses in a session.

almostkorean

قبل 4 سنواتdiscuss

not a defi expert, but I think the most common way to do this is to use Aave:

  1. borrow Tether
  2. swap it for USDC (or stablecoin of choice)
  3. wait for Tether to crash
  4. pay off your Tether loan at a fraction of its original value

risk is that your tether loan will be accruing interest (currently 1.4%) so if it doesn't crash or takes too long to crash you could be liquidated.

almostkorean

قبل 4 سنواتdiscuss

You can convert your money to a USD pegged stablecoin instead of your local currency which is losing value at a faster rate. Plus easier to store and move large amounts IMO

almostkorean

قبل 4 سنواتdiscuss

Stablecoins are popular in countries with hyperinflation

almostkorean

قبل 4 سنواتdiscuss

> Marketplace is the only reason a lot of people still use the site.

Do you have any data to back this claim?

almostkorean

قبل 4 سنواتdiscuss

Completely agree, they make claims like this and I'm instantly turned off because it feels like they are lying to my face.

I think they've set up a system that incentivizes long term storage (and possibly a better setup than IPFS) but theres no way in hell they can make a guarantee for more than a few years at best.

almostkorean

قبل 4 سنواتdiscuss

I was talking about Coinbase MPC wallet, where they have part of your private key. I think that's pretty far from back to square one, is it not? You still own your private keys but are trusting a centralized organization to keep the other, so it would require both parties to be hacked for the wallet to be at risk.

almostkorean

قبل 4 سنواتdiscuss

This is a huge UX issue for anyone that wants to self-custody. In the same spirit as the OP, people are working on solutions for this. Vitalik posted about it last year: https://vitalik.ca/general/2021/01/11/recovery.html. I don't know the technical details, but Coinbase is launching a wallet system where the private key is "split" between the user and Coinbase.

After explaining improvements to this specific issue, it still feels like way too much friction for the average person to deal with. I think there will be more improvements as time goes on but maybe that's just the cost of doing self-custody. In the end, I guess it's up to the individual to decide whether it's worth it or not.

almostkorean

قبل 4 سنواتdiscuss

I think automatically is not the best term here. I'm not an expert, but there are borrowing and lending protocols that let you borrow a large amount of their token pool as long as it is paid back within the same block (plus some fee). So you can write a script to run a transaction that:

  1. borrows a large amount of money
  2. use the large amount of money to do arbitrage
  3. pays back the large amount of money plus any fees
  4. keep profits

and it does so "atomically", so if you can't repay the loan then the transaction fails and the whole thing never happened. or you could lose money if the transaction is successful but the trade is not profitable.

like I said, I'm not an expert so someone correct me if I'm wrong

almostkorean

قبل 4 سنواتdiscuss

Pretty close, I'm guessing there are peer to peer lending platforms but typically you do it through a smart contract where assets are pooled together. So when you put your 10 BTC in the lending pool, you can only borrow up to ~80% of that value. If the price of BTC goes down, your BTC gets liquidated if it gets to within 5% of your borrow amount

almostkorean

قبل 4 سنواتdiscuss

Yep, I avoid mentioning specific names as much as possible so I don't come off as a maxi or a shill. Also very uncomfortable mentioning anything specific to friends because I don't want them to interpret it as financial advice or get FOMO when I have no idea what a token's price will do

almostkorean

قبل 4 سنواتdiscuss

They have a one month old baby too

almostkorean

قبل 4 سنواتdiscuss

Sorry, taxes comment was out of place. Just frustrated.

The loans aren't interest free, they have a variable rate determined by supply and demand. For USDC its been pretty steady around 3%. There was a day or two last year where it spiked to 40% when Justin Sun removed billions of his capital.

In response to wire transfer, I was more complaining about having to be at a physical bank branch to do it. Not sure if that is unusual either.

edit: Just remembered that normally I wouldn't have to physically go to the bank. I had to do so to make sure it arrived in time for the signing. I think they told me it would take a day or two if I did it online/over phone? But being there in person they said it would "probably" arrive in a couple hours

almostkorean

قبل 4 سنواتdiscuss

Same here, I work for a web3 company and am so happy. Let it bleed

comments