Unfortunately DAI is also now collateralised by USDC, I read somewhere is up to 30% (haven't been able to verify) but I'm not sure what effect it'll have on DAI if USDC collapses. More here: https://www.reddit.com/r/MakerDAO/comments/nwydtj/what_is_th...
What’s malicious about only being able to cut 50 heads of hair per day or being government mandated to only watch 5 kids per adult?
Nothing. The reality of cutting hair curtails the first mans ability to be a billionaire and the needs of the tiny humans out way the desire of their watchers to maximize their income (which would still be far below billionaire status because the ability to watch a kid is limited by nature as well).
Capture the signup cost of a new onboard to your software? Capture the profit of selling toilet paper to the west coast? Grab a percentage of sales from everyone sales man hired after you?
Those things can scale by their nature and so the people in control of them will scale their capital accordingly.
I would argue the very existence of the tech giants prices there is no malicious entity out there holding down the little people. Just the facts of life. There are only so many scaling jobs (millions of singers, only a few hundred like Beyoncee) and competing against an entrenched interest means you bear the full cost of switching me from my chic fil a tea addiction to your bucket-o-chicken branded one. Good luck with that, I’m headed to chic fil a right now because just thinking about it was enough to remind me of all the good memories and want another one right now. It’s not the tea, I’ll drive past 20 people selling sweet tea to get there, it’s the chic fil a sweet tea.
Your haircuts are a strawman response, but a fine point independant of my own I suppose if you like to tell coal miners to "Just Learn to Code". I guess I'd like to see the hair dresser demanding they become a billionaire from cutting hair.
Here's the quotation's context:
> You need to find a way to work hard such that your rewards are not capped artificially. Startups were you get equity. Large companies where you can progress to high salaries if you are able to rise. Starting your own business and being competent at it. Working on commissions in an area where the commissions can be large -- true sales, or real estate. Being a professional, e.g. doctor, accountant, lawyer, has traditionally had high wages and you often run your own business.
I read the artificiality being the fact that CEO salaries are XXX% in excess of workers' pay, or workers getting unlivable wages requiring multiple jobs while Csuites getting bonuses in excess of an entire division's wage budget, or the fact that HN recommends quitting your tech job every 2 years because your yearly bonus will pale in comparison to the % increase over your salary a new hire in your divisioin will get, or the many documented effects of systemic racism, or unjust tax laws, or any miriad of heinous shit that goes on in our current economic system.
> I would argue the very existence of the tech giants prices there is no malicious entity out there holding down the little people. Just the facts of life.
Bozos 'committing' 1B$/y to a space pissing contest with some dude he worked with a lifetime ago while the people who enable that wealth are peeing in bottles and lying dead and unnoticed for 20 minutes are 'facts of life' to you?
Makes me wonder if your chicken tea addiction is actually politically motivated.
TL;DR
- NFTs help prove ownership without needing a central authority (which is a big deal) e.g. have you ever been misled and bought a fake concert ticket? It's also huge for the collectibles market which is plagued with high-levels of fraud (which is a billion dollar industry).
- NFTs can also make fractionalized ownership more accessible.
So using your analogy, as an artist I release a song but I sell fractions of my song as NFTs to my audience and when I receive royalties it automatically gets distributed to all the nft song owners.
There will be meme NFTs of course (the cat that got sold for $600k), it is a speculative asset that people are experimenting with but I think eventually things will reset and the useful NFTs will remain. They can have real utility whether for a virtual or physical world.
> NFTs help prove ownership without needing a central authority (which is a big deal)
The same artwork or membership card or movie ticket can be wrapped in multiple NFT, each living on a different blockchain or on the same blockchain but in different contracts.
Hence you still need the central authority saying which chain is the true one. For example if the NFT represent a plot of virtual land, the game or software managing that land acts as the central authority.
Congrats on this project. Reminds me of when I first read both 'Algorithms to Live by' and 'What If', books applying maths/science to everyday topics. Adding to my reading list!
the only reason the dollar has any value at all is that it is issued within the context of a society full of people who have agreed to treat it as though it has value. Without that faith, every major currency on Earth would be as useful as small pieces of paper generally are
serious question, how is the democratic process different between the two? One i.e. democratic nations are a group of people on the same piece of land that. The other is a group of people on the internet.
A few years ago the BTC/BCH split happened. This was a major philosophical decision that creates winners and losers and changes the trajectory of the winning coin forever. It was a fiscal policy decision.
It was made exclusively by software engineers and miners. Miners get to vote based on their wealth. I don't consider that to be "a democratic process". There is no guarantee of enfranchisement. Some people get far far far more votes than others. It is more like a council of aristocrats.
This is my intepretation, but I didn't conclude that privacy marketing added $1.3trillion to Apples market cap, what I did take from that statement is that brand strategy IS very important though. I say this because Apples privacy marketing has definitely impacted me, I was already an Apple fanboy but I've become more resolute in not buying and persuading people to not buy non-apple hardware since their privacy marketing tear. So maybe it hasn't added trillions in value but it has indeed added something!
