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Web 3.0 (Ethereum) is happening, and most people have no idea what it even is.

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karakoram

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I found Monero and Ripple to be better for moving money around. Lower fees and far faster confirmation than ETH, BTC, or LTC
 
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csalvato

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That was a great explanation, thank you.

Quick clarification.

The value I am getting by adding liquid to the pool is interest, as it is a loan system, correct?

Another value I am getting is the ability to swap my coin for another coin.

Are these the main two value propositions for adding funds to the pool?

If we're talking about Uniswap, for example, you don't need to add to a liquidity pool (LP) in order to swap tokens. You can just make a trade at any time, from any token to any other token.

To ensure that there are tokens to swap, we need to make sure the liquidity pool has enough of both tokens to facilitate the exchange. So you can be a liquidity provider. As a liquidity provider, you lock your tokens into the pool, and get a percentage of the fees generated, based on how much you have in the pool.

Let's say you have 0.2% of the liquidity in a liquidity pool on Uniswap. If there are $1,000,000 in fees collected on a given day, you've made $2000 just for staking your tokens.
 

LifeTransformer

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Avoid Tron like COVID, that’s coming from a former fan of it.

See what they did to Steemit.com as evidence of why you definitely do not want anything to do with Justin Sun, I’m pretty sure it’s just a pipe dream/false project at this point
 
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Mark_Entr

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Blockchain technology has been around since 2009. When most people think about blockchains, they think about bitcoin, a slow, expensive antiquated technology that is hard to scale, and is not innovating. Every now and again you will hear about bitcoin reaching new all time highs, yet nothing has really changed with the technology in years.

Then there are alt coins. Coins things like litecoin or dogecoin that are basically carbon copies of bitcoin, and coins like monero that are similar to bitcoin, but have a few extra bells and whistles.

There is one platform however that you will be hearing a lot more about in the future that is really going to change the way we do things. If you haven't heard about ethereum already, luckily you are hearing about it now. Ethereum is a programmable blockchain, and this makes it a very robust platform. Due to the blockchains ledger system, and ethereums programability, smart contracts are able to be created, along with a ton of other cool things.

What does this all mean? Trustless systems can be created that completely cut out middle men. Micropayments. Royalties paid for time listened to music or watching a video, etc etc.

There are thousands of developers in this space, and lots of big household business names are trying to implement the ethereum blockchain into their business. So what exactly is there for you to gain? Well you can become an investor or better yet, you can create distributed applications in this space, and reap the benefits that come along with it. I have made a lot of money in this space, and I believe it is going to continue to grow.
Are there any novel applications that are truly only enabled or substantially improved by blockchain ? ( the examples you mentioned like paying royalties for video or music are already being done by youtube & spotify, micropayments is already achieved by many companies, so what does blockchain really offer ? )
 

Mark_Entr

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I mean we already have good ol' fashioned stamp and letters, who's gonna use that "Email" thingie anyway

The jump from slow paper mail to email is huge, however, I don't see the value in changing your email to use the blockchain technology
1. what value do users get if current services switch to blockchain ?
2. any value to companies if they switch to blockchain ?
3. what are the novel applications only allowed by blockchain ?

Thanks.
 

Mark_Entr

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This efficient way is the blockchain
How is the blockchain more efficient ? from my understanding, it actually is a lot less efficient than using typical databases, but I believe their strength is the zero trust + full transparency + storing data so it can't be altered ( unless you do a 51% attack ).
 
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CryptoCurt

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The jump from slow paper mail to email is huge, however, I don't see the value in changing your email to use the blockchain technology
1. what value do users get if current services switch to blockchain ?
2. any value to companies if they switch to blockchain ?
3. what are the novel applications only allowed by blockchain ?

Thanks.
Check out these Infos:

Blockchain is still in the pioneer-phase but many big companies have integrated it into their processes already.

In my view, we are now in the times where ebay was in the mid 90's.
Everyone who heard about it said "na, that won't work. auctions over the internet? never!"

Same is now with blockchain tech and also the whole crypto-space.
 

MarkSabier89

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Thank you for throwing a great idea, I will definitely study this topic, I just think about where to invest my money, but I definitely do not want to invest in bitcoins
 

Martin Boeddeker

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Coalission

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Or just wait until Visa processes your payments over blockchain so you don't have to worry about all the weird scary techy stuff happening behind the scenes to make it all work. Either way, it's coming and you WILL use it.


Gradually, then suddenly...
 

maverick

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Not hit the peak of the bull run yet judging by the comments here :)
 
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MJ DeMarco

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Ethereum is now close to 1/2 the market cap of BTC... catching up!
 

GlobalWealth

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This is not Web 3.0. In fact there was never a Web 2.0. The term arose from website development company marketing BS.

I didn't bother watching the video because I didn't want to waste my time. If I won't do it then neither will consumers.

I'll list a couple of reasons why it won't be mainstream.

1. Lack of chargeback ability.
2. If your account is hacked or password stolen then you lose all your money.
3. You have to use money to deposit into an account to get Ether.
4. EVM is useless and stupid. Not going to be easy to implement.
5. It will cost money to do transactions/hold money.
6. Not FDIC insured.
7. In the US if a merchants accept credit cards they cannot give discount/surcharges by law in a lot of US states for not using credit cards so the consumer sees no benefit.
8. Most people use credit cards because they are in debt and have no money to put in a separate account for Ether.
9. There's 100s of blockchain currencies out there. No reason to accept just one and this would cause deflation.
10. US inflation is expected to be very low as well as other developed countries. Just look at 10yr and 30yr bonds. If you think hyperinflation is coming then you're an idiot.
11. Lots of volatility since cyptocurrency is not backed by anything. US currency is backed by jail time if you don't pay taxes.
12. Lack of places to convert the currency to goods/services. It's hard to find any place that accepts bitcoin. Good luck finding a place that accepts ether.
13. It doesn't fix a big issue.
14. Litigation costs. Since the consumer is unable to do a chargeback there will be increased costs defending against civil cases. Especially across state lines due to long arm statutes.
15. Lack of reputation. Putting money in ether is like sending your money off to some offshore company.
16. Banned in China and other countries.
Damn.... This did not age well...
Lol
 

Lucid Tech

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Damn.... This did not age well...
Lol

Reminds me of when Brian Armstrong was looking for a co-founder for Coinbase and all of the brilliant minds on HackerNews smugly tore his idea apart in 2012. He's now a billionaire.


Some of my favorites:

"I don't think you've properly thought this through. Many people have, and there's a reason we still have the system we have today."

"Because bitcoin worked out so well. Have fun with that, dude."
 

theguy22

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What is the revenue model when creating a decentralised app? I thought the whole point of a dapp is that it removed the middle man and in a sense gives the power to the people, so let's say I create a decentralised app, what am I to gain as the entrepreneur?
 
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MTF

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so let's say I create a decentralised app, what am I to gain as the entrepreneur?

A percentage of tokens is usually reserved for the creators. So even if you offer publicly 90% of it and leave yourself only 10%, if the project is successful you'll be a multi-millionaire or a billionaire. Example: Vitalik Buterin.
 

AndreiR

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What is the revenue model when creating a decentralised app? I thought the whole point of a dapp is that it removed the middle man and in a sense gives the power to the people, so let's say I create a decentralised app, what am I to gain as the entrepreneur?
It already exists. Think of developers that make libraries/frameworks that are open source. They make money installing them for companies, by increasing their status in the community, and on side projects built on them.

Likewise with dapps, there could be a token associated with it and the team makes money through the ICO. Likewise, one could build side paid projects on the dapp, or simply increase their status in the community leading to profits down the line.

Another potential profit area that already exists in crypto is token holders being paid out a part of transaction fees. No one controls the network, but by having a 'stake' in it, you profit as the network increases, both in the transaction fees going to you, as well as the increased value of the token you hold.

I will say that so far it looks the entrepreneur making the free dapp will have to make a token associated with it in order to profit directly and not in some indirect method. I could definitely be wrong on this and would love to see examples where this is not the case.
 

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