Bitcoin "Freefall"

[nooby_mcnoob]

I know, those links are to give you ideas on how to implement your stablecoins project on Monero blockchain

but if you already know how to do it, then just ignore those links/projects

Tbh, I don't really have a clue how you would accomplish it because there are many complex methods of how Monero achieves privacy


https://www.getmonero.org/get-started/what-is-monero/

https://twitter.com/x/status/1494881984195305473

I don't like side chains either because they add a weak link.

Plus a XMR side chain basically creates the issue that the peg is to XMR and not to some basket or fiat.

Is it possible to create a peg without centralization?

For example, tether creates a peg. Theoretically, people deposit USD with them, Tether mints USDT. Then the question is whether you trust Tether. Many don't.

How could you create this peg using a market mechanism without the Tether middleman? Fiat in, fiat token out?

Although perhaps perfect is the enemy of good and I should just start buying XMR except I'll never be able to use it anywhere lol.

 

[johnarb]

Is it possible to create a peg without centralization?

How could you create this peg using a market mechanism without the Tether middleman? Fiat in, fiat token out?

You should look at algorithmic stablecoins and how they achieve and maintain a stable peg through supply and demand market forces and incentives/game theory mechanism

Terra Luna UST and MIM

Both exist on multiple blockchains

Separate the blockchain from the stablecoin technology

 

[nooby_mcnoob]

Terra Luna UST and MIM

they both work with another token as an anchor with a volatile value, same problem.

 

[Handle123]

Took few stabs in Bitcoin futures but nailed highs short and have added more shorts on deep pullbacks. I always hedge opening positions and automation upon likely hood of pullback will hedge open positions. Presently reversal area is below 18,000 .

I don't have any emotions of what Bitcoins are whether it is next Microsoft or pet rocks, it is a trading symbol. I am primary a chartist but do use little of indicators for extremes.

 

[johnarb]

they both work with another token as an anchor with a volatile value, same problem.

 

[nooby_mcnoob]

It is not clear to me who is paying the interest or why, sounds like a ponzi.

 

[johnarb]

It is not clear to me who is paying the interest or why, sounds like a ponzi.

The interest is paid out in the native token through the emission process of the smartcontract protocol

 

[nooby_mcnoob]

The interest is paid out in the native token through the emission process of the smartcontract protocol

Ah thanks. So the flow is something like this?

I lock up some ETH in the smart contract for TOK
The smart contract pays me in TOK

Why do I care about TOK?

 

[johnarb]

Ah thanks. So the flow is something like this?

I lock up some ETH in the smart contract for TOK
The smart contract pays me in TOK

Why do I care about TOK?

It's much more complex than that

EDIT: the correct question is why does TOK have financial value? nobody cares what you think or feel. emotions do not pay for groceries or rent

You should study defi processes, I promise it's very fascinating if you're interested in financial systems

I started yield farming in 2020 and I've only scratched the surface

There are a lot of very smart people who have implemented some very complex systems related to finance using smartcontract and blockchain technology

@MrMuppet had posts in 2020 that mentioned what was then an upcoming defi revolution

Yes definitely, especially on the retail level.

Crypto has not (yet) the infrastructure that is required for the big boys to jump aboard, although the derivative space has become competitive.
The issue for US citizens is that no serious exchange would take them as customers, so what's left?

Decentralized Finance (DeFi) is going to be the next big thing. Protocols such as Maker, dYdX, Opyn, or curve.fi are still so small (MKR has 330M $ market cap) that nobody gives a shit but the developers and some freaks...and they don't know markets.

The best thing: Crypto has no banks and no brokers but needs centralized exchanges to facilitate trade, which is a point of KYC/AML.
DeFi doesn't even have centralized exchanges, so you can trade directly from your wallet and it doesn't matter where you're from.

Caveat: You cannot expect to plug in your Ninja Trader and bang away. Everything is pretty technical and difficult to access, but that's why there is tremendous edge to be had.

Start here and add the respective exchanges to your twitter and medium account to get a feeling for what's going on:
https://cryptobriefing.com/dex-top-10-decentralized-exchange-picks/
https://defiprime.com/derivatives

Some really crazy stuff is happening here and even if you make just a couple of bucks, it's fun and you learn a lot about how the big markets work

That's the spirit.
One last note. DeFi is slow, I mean reeeeaaaly slow. When there was an 800ms execution of an option on a DEX that was considered so fast that it was tweeted.

Pricing is absolute key here so make sure you get that down first. If you want to arb a swap vs. a synthetic swap you need to be able to calc the cash flow, price and hedge correctly. You will most likely hold these things until expiration.

No trendlines, no indicators, no systems, no stop losses. Just straight forward trading.

This should point you into the right direction:

 

[Sprout]

What's the fork of this on FTM? Not going back to ETH except for Blue Chip NFT's.