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re: Official CryptoTalk Thread

Posted on 12/26/21 at 3:53 pm to
Posted by Nonetheless
MAGA
Member since Jan 2012
34391 posts
Posted on 12/26/21 at 3:53 pm to
chainlink moving, finally
Posted by FlyinTiger93
Member since May 2010
3724 posts
Posted on 12/26/21 at 4:33 pm to
quote:

chainlink moving, finally


Crash incoming
Posted by rocket31
Member since Jan 2008
41887 posts
Posted on 12/26/21 at 4:41 pm to
interesting article. the real meta is to determine if L2s/side chains siphon capital away from eth or from L1s?

Matic seems to be giving us hints but we're early

Posted by down time
space
Member since Oct 2013
1914 posts
Posted on 12/26/21 at 5:24 pm to
i'm not sure but i'm moving a 1/4 slice of my matic into some small coins for this week, i love quickswap, uniswap/eth is so fked. that was a good article, active traders who moved stacks to align with the weekly narratives totally crushed it this year. dont sleep on gamefi narrative.
This post was edited on 12/26/21 at 5:37 pm
Posted by tenderfoot tigah
Red Stick
Member since Sep 2004
11538 posts
Posted on 12/26/21 at 5:35 pm to
quote:

if L2s/side chains siphon capital away from eth or from L1s?


It 100% is doing exactly that right now.

ETH, BNB, SOL are all up very little recently, relative to the smaller smart contract platforms.
Posted by tenderfoot tigah
Red Stick
Member since Sep 2004
11538 posts
Posted on 12/26/21 at 5:37 pm to
quote:

i'm not sure but i'm moving a 1/4 slice of my matic into some small coins for this week


Go to scopecoin.finance and watch the video of the platform. You wont find a safer play with a market cap under $1M. The entire team is doxed and semi famous people. They are all set to promote the platform next quarter post release. Their semi famous friends are set to promote it with them also.
Posted by tenderfoot tigah
Red Stick
Member since Sep 2004
11538 posts
Posted on 12/26/21 at 5:53 pm to
The devs pinned the Creatstep website, so I figured I could finally share it here. It's supposed to be released next quarter. Scope is the currency for this website.

Creatstep platform development so far

LINK

username: creatstep
password: create0x
Posted by philly444
stuck in contraflow
Member since Nov 2008
12345 posts
Posted on 12/26/21 at 5:56 pm to
Santa Floki is up 5000x since yesterday when Elon Musk tweeted about it. This is what crypto is all about!
Posted by BottomlandBrew
Member since Aug 2010
29390 posts
Posted on 12/26/21 at 6:16 pm to
Can you shill any harder? I don't think anyone heard you the first time.
Posted by tenderfoot tigah
Red Stick
Member since Sep 2004
11538 posts
Posted on 12/26/21 at 6:18 pm to
Different website. That was the scope website. This is the unreleased Creatstep website. I'll create my own thread. Sorry, I figured people were following and also up 14x the past 3 weeks.
Posted by Hulkklogan
Baton Rouge, LA
Member since Oct 2010
43482 posts
Posted on 12/26/21 at 6:23 pm to
quote:

if L2s/side chains siphon capital away from eth or from L1s


I think general purpose zkRollups will siphon TVL from other sidechains and L1s.

I expect most defi TVL to move from L1 ETH to L2s. Because it's all settled on Ethereum in the end and these L2s use ETH for gas, I don't expect this to kill the price of ETH. I believe once ETH goes PoS, ETH will be deflationary and ETH staking pool APR will increase to ~10-15%, driving more and more ETH to be staked while also being deflationary, so ETH becomes a solid store of value and constant pressure to drive the price up over time.

Obviously I'm a big bull, and have most of my portfolio in ETH so very easily biased.
Posted by rocket31
Member since Jan 2008
41887 posts
Posted on 12/26/21 at 8:21 pm to
hmm.. im thinking value goes to exchange layers first (L2s) then settlement layer eventually (eth).

i also just watched over an hour of michael saylor saying everything defi etc will be banned/regulated as a security

LINK

generally like his interviews but this one left me with a negative opinion of him. like hes trying to squash all innovation happening elsewhere
This post was edited on 12/26/21 at 8:44 pm
Posted by Hulkklogan
Baton Rouge, LA
Member since Oct 2010
43482 posts
Posted on 12/26/21 at 8:44 pm to
quote:

im thinking value goes to exchange layers first (L2s) then settlement layer eventually (eth).


The economic activity is obviously on the L2, but ultimately on actual L2s the transactions are not settled until they're confirmed on Ethereum, so the value on the Ethereum network (and Ether the asset) is still there. Just all of the DEXs and such will be on L2s, which take a small cut for transaction fees.

These L2s will make tokens, but they'll governance tokens and not to be used as gas.

This obviously doesn't apply to sidechains, which may or may not checkpoint back to Ethereum (like Polygon)
This post was edited on 12/26/21 at 8:49 pm
Posted by Odinson
Asgard
Member since Apr 2014
2863 posts
Posted on 12/26/21 at 8:52 pm to
zkSync airdrop is inevitable. I would set up for it now.
Posted by LordSaintly
Member since Dec 2005
42401 posts
Posted on 12/26/21 at 9:28 pm to
quote:

zkSync airdrop is inevitable. I would set up for it now.


It'd be nice if I knew how to qualify for it
Posted by rocket31
Member since Jan 2008
41887 posts
Posted on 12/26/21 at 9:33 pm to
quote:

These L2s will make tokens, but they'll governance tokens and not to be used as gas.


naa. a question to ask is, if you're building a really great execution layer, why would you let a dinosaur capture all your value?

no one in their right mind would do that. just watch
Posted by Hulkklogan
Baton Rouge, LA
Member since Oct 2010
43482 posts
Posted on 12/26/21 at 9:47 pm to
Security. These L2s depend upon the layer 1 protocol for network security entirely and inherently have none of their own. They can't just flip a switch and use their own token for gas without changing how their own chain and protocol fundamentally operate.
Posted by rocket31
Member since Jan 2008
41887 posts
Posted on 12/26/21 at 9:55 pm to
rollups/zks inherit security of L1 as long as someone is keeping track

so the decentralization meme goes out the window

basically what youre suggesting is that L2 tokens are fine as long as you never need to touch them to use the L2

so the "decentralization maxis" are rekt with this solution

worst case scenario here is that with an L2 there exists a set of keys not your own that can spend your coin

that’s not true in an L1 and im unsure if institutions will wanna take that risk.
This post was edited on 12/26/21 at 9:59 pm
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
82094 posts
Posted on 12/26/21 at 10:03 pm to
quote:

i also just watched over an hour of michael saylor saying everything defi etc will be banned/regulated as a security

I see this as a semi decent chance of happening. The SEC already dropping securities classification hints. If there was ever a space the big banks wanted to flex their international power to squash, it would be the Defi space through government regulation.
Posted by rocket31
Member since Jan 2008
41887 posts
Posted on 12/26/21 at 10:12 pm to
maybe. he seems 100% confident bitcoin is safe in that scenario

although, its weird if we think back to this year how they tried to squash bitcoin with the ESG crap. remember that? then that narrative all went away. it might have slowed BTC adoption a bit, but alts just kept on running

then last month they brought in hillary to say that bitcoin might collapse govts? what the hell was that all about?

i do think they are potentially setting up bitcoin to be the scapegoat if/when the economy collapses. that could be just me over thinking all possible scenarios though

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