NEW BLOG OUT: Why would a cryptocurrency coin have something in common with the Panama Canal?
The Panama canal originated with President Theodore Roosevelt who oversaw the long-term goal of building a trans-isthmian canal. In the late 1800s, American and British leaders wanted to trade goods quickly and efficiently between the Atlantic and Pacific Oceans. A canal located in Panama provided a new potential solution. The project consisted of canals and waterways, locks that control varying water depths required for transit, and lakes in the middle of the pathway.
In May 1904, Panama granted the United States the right to build and operate a canal and control approximately five miles of land on either side of the Atlantic and Pacific Oceans. Later that year, construction began; it opened for traffic in 1914.
This route surpassed the unwanted alternative that previously existed: an 8,000-nautical-mile trip around South America's Cape Horn. It saved time and money and no one government had control of this canal for its first 90 years.
The canal represented the technological prowess of the United States and its allies as an economic power by enabling the transport goods from Asia and other parts of the world to the United States quickly and at a lower cost. With the most recent expansion, huge vessels can move massive volumes of cargo that weren't previously possible.
It turns out this is what ETH 2.0 is aiming to do. ETHER is right now in 2021 where the Panama canal was in 1914. Its doors just opened for business. What does this mean for society as a whole now? What can we expect? Is this the day that Amazon, Apple, and Paypal will mark in the corporate life when these monopolies began losing power and influence? Well, read this blog to really understand what ETHER 2.0 is from a 30,000 foot view.

https://www.patreon.com/posts/46165709

 

TODAY'S PSA is on building a community: I know this pain because I went thru it building my own community. It is not easy. DeFi has a lot of promise but it has a lot of growing pains too. To be in this space or to invest in this space will require patience. Incentives are bribes in hiding. When your incentives are misaligned, it brings the wrong type of people in your space. We all have to find a better way to reward people who bring value to our tribe.
When your content/products/services are great, they will eventually fall into the hands of people who are grateful and people who want to contribute to the greater good. With this in mind it will be less about me, and more about the community.
Leadership must be steered only by conscience, not a bribe.
With that being said, the future of DeFi needs to be based in fairness. If someone needs money there should be a way to lend them money without tying up other assets.
The DeFi space now uses tokens to incentives people to use smart contracts or projects. Given how people take and rarely give, when you are building out a network you need stake holders to have skin in their own game. Giving a reward for participation is useless to building in the long term. They have to want to be there for the mission or goal.
The critical innovation at the heart of the new DeFi project called "Iron Bank is zero-collateral lending — protocol-to-protocol loans will use a credit system that is not currently possible with existing peer-to-peer lending solutions, all of which are overcollateralized. We believe that the capital efficiency made possible by protocol-level loans will accelerate our industry’s growth." https://andrecronje.medium.com/building-in-defi-sucks-part-2-75df9ee7871b

 

Thank you for the post; it was well written.

Most "Cyrto" currency articles are very poorly written.
I am not a "gamer", "tweeter" nor jargon slang person. Even though my past 35 year career in data processsing (IT) is full of acronyms, I consider it misleading to use them in speech and literature. It is offensive to me that so many "Cyrto" article writers use such cryptic forms of language. This devalues their message and equates it with cartoons which may have entertainment value, but other than that -> worthless.

 

Another macro person sees ETH 2.0 like I do and how I wrote about it in the BTC series.

 

Aave works on ETHER: All about Aave:

 

ETHERs gas fees opening the door to other chains now.

 

I bought some today, but I’m wondering what the competition from other chains, like Binance, will do to Aave and other ETH blockchain coins especially with the difference in gas prices. Volume is up but use is down with high gas prices.

 

With more and more discussions about EIP-1559, it's worth recapping what the proposal is all about.
#Ethereum #EIP1559

 

Price doesn't know outcome yet in the DeFi space but over the next five years, price discovery will follow protocol utility and protocol liquidity mass. https://www.patreon.com/posts/47204036

 

The basis of the Monopoly board is complex and why ETHER is a speculative play in my eyes now in 2021. I felt the same way about AMZN in 1996-1999 and we see how that turned out. Layer 2.0 on BTC and ETH are operational. Right now there is no clear winner. Price discovery will progress via utility. The market will decide who wins. Both have selling points that are speculative.

 

At an MIT conference in 2018, incoming SEC head Gary Gensler posited that Ripple's XRP and Ethereum's ether (ETHUSD) should be deemed securities. Since then, former commissioner William Hinman clarified that ether was sufficiently decentralized to not be counted as a security. Ripple's XRP, however, is still under the SEC scanner. Back then, Gensler predicted that the courts would ultimately decide XRP's fate as a security. That event is already in motion, and his agency will have a big hand in deciding its outcome.

 

Wow. Bad news if you own Ether. I warned about this risk in the early BTC series. Sen. Warner and Portman are proposing a last minute amendment competing with the Wyden-Lummis-Toomey amendment. It is disastrous. It only excludes proof-of-work mining. And it does nothing for software devs. Here is all it excludes:


If this passes this is the U.S. Congress picking winners and losers in crypto land.

 

https://twitter.com/SBF_FTX/status/1423425215925604360

 

Ether is a system with an unaccountable ruling class exploiting the working class, making promises they can’t keep while spinning a wonderful narrative to the masses. The ruling class takes their wealth and then lobbies Congress with dollars. Those dollars likely will be used to attack BTC eventually.

 

The amendment has radically changed now. So it appears even Lummis is trying to help ETHER now based on her editorial in the HILL written today

 

Conference call last night clearly showed that Charles H. and the entire IOHK group at Cardano has infiltrated Wyoming politics more than I was aware.

 

https://www.theblockcrypto.com/post...slowmist?utm_source=twitter&utm_medium=social

 

Funds stolen by DeFi attackers: $402 million as of 8/10