xuanling11Crypto Paycheck
Photo by Mario Gogh on UnsplashEmployees will receive their paycheck in the period as a reward for their work. However, the employer wants to pay less to employees so that they can have maximum profits. The tension between working and anti-working has increased ever since. TL;DR Nobody wants to work unless they can pay fairly. Fiat payment may not be sustainable to satisfy what workers can contribute if the employer continues paying less and gaining more from profits. Employees will want thei...
xuanling11Defi Review #4: AAVE The Defi Lending Services
AAVE is a decentralized finance lending service before decentralized finance even existed. It is an innovation lending service in crypto and one of the first kind. However, the lending service may only restrict to the crypto community and it may expand into the traditional financial field later. TL;DR AAVE is a crypto lending financial service which to provides lending services to the crypto community. They focus on security and smart contract lending may be the future of financial services. ...
xuanling11Stablecoin Crisis
Stablecoin is in the crisis mode. The most reputable stablecoin USDC is depegged. It is all triggered by the traditional bank collapse - Silicon Valley Bank or SVB collapse. Why traditional bank collapse impacts crypto stablecoin? Let's sort this out and reveal how stablecoin operates. First, why SVB collapse? The short answer is overleveraged. SVB is one of the 20 largest commercial banking in the United States. Some even estimate the bank owned half of startup assets. Bank operated in ...
xuanling11Crypto Paycheck
Photo by Mario Gogh on UnsplashEmployees will receive their paycheck in the period as a reward for their work. However, the employer wants to pay less to employees so that they can have maximum profits. The tension between working and anti-working has increased ever since. TL;DR Nobody wants to work unless they can pay fairly. Fiat payment may not be sustainable to satisfy what workers can contribute if the employer continues paying less and gaining more from profits. Employees will want thei...
xuanling11Defi Review #4: AAVE The Defi Lending Services
AAVE is a decentralized finance lending service before decentralized finance even existed. It is an innovation lending service in crypto and one of the first kind. However, the lending service may only restrict to the crypto community and it may expand into the traditional financial field later. TL;DR AAVE is a crypto lending financial service which to provides lending services to the crypto community. They focus on security and smart contract lending may be the future of financial services. ...
xuanling11Stablecoin Crisis
Stablecoin is in the crisis mode. The most reputable stablecoin USDC is depegged. It is all triggered by the traditional bank collapse - Silicon Valley Bank or SVB collapse. Why traditional bank collapse impacts crypto stablecoin? Let's sort this out and reveal how stablecoin operates. First, why SVB collapse? The short answer is overleveraged. SVB is one of the 20 largest commercial banking in the United States. Some even estimate the bank owned half of startup assets. Bank operated in ...
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South Korean court issued a warrant to arrest Terra co-founder Do Kwon, will this change the crypto space in the future?
https://twitter.com/DaveOZA\_/status/1569939107757039617
I think it will hardly change even though Do Kwon was in charge of fraud under the security law in South Korea.
https://twitter.com/GarlamWON/status/1569928178411642880
Here is why:
https://twitter.com/ProductHunt/status/1569399286500057089
Open source projects do not mean open law projects. The project provides individual freedom in certain aspects, but the team who created such projects has their accountability behind the project. What makes those team members accountable?
There has no way to validate the team's integrity, but it solely depends on the person who kept themselves accountable.
Revealing your identity does not help the team on the accountability but increases a little hope from people who wants to join the project and support them.
We still have no history of understanding what kind of teams are behind the project and how we can protect ourselves from when the scheme collapses unexpectedly.
Co-founders of a project can still walk away freely without explaining why their project collapsed. Investors may never be satisfied on their losses to be compensated in the future if possible.
Because the original intent from investors is to make a project impactful for society and put their hope into the project, how can law provide the loss of hope?
https://twitter.com/sherlock_hodles/status/1570107213062062080
There is no way any centralization can provide any compensation for the hope, and punishing individuals may only have a temporary warning effect in the crypto space. Yet, scams and rug-pulling continue in the space.
People will continue losing money in the crypto projects they later got scammed from.
Only true decentralization can help and prevent all troubles bad actors made in the crypto.
One who wants to enter and join into crypto should genuinely understand what decentralization means to you and identify true decentralization before entering any project funding support or spending your hard-earned money.
Here are 3 conditions of true decentralization:
a mechanism to prevent central figurehead
a mechanism to validate everything is true
a mechanism to prevent duplication
You will have to pass these 3 tests to get true decentralization.
Otherwise, every crypto project is a potential risk of failing into a single-point failure - a catastrophic event to collapse the project entirely.
Bitcoin is a nearly true decentralization, except they closely validate everything is true.
Ethereum, on the other hand, is centralized because it fails the first test.
https://twitter.com/VitalikButerin/status/1570097258854580224
Ethereum 2.0 improves its decentralization a little more.
Decentralization is a key to making crypto sustainable.
If you enjoy reading my articles, buy me a coffee here.
Photo by Wesley Mc Lachlan on Unsplash
South Korean court issued a warrant to arrest Terra co-founder Do Kwon, will this change the crypto space in the future?
https://twitter.com/DaveOZA\_/status/1569939107757039617
I think it will hardly change even though Do Kwon was in charge of fraud under the security law in South Korea.
https://twitter.com/GarlamWON/status/1569928178411642880
Here is why:
https://twitter.com/ProductHunt/status/1569399286500057089
Open source projects do not mean open law projects. The project provides individual freedom in certain aspects, but the team who created such projects has their accountability behind the project. What makes those team members accountable?
There has no way to validate the team's integrity, but it solely depends on the person who kept themselves accountable.
Revealing your identity does not help the team on the accountability but increases a little hope from people who wants to join the project and support them.
We still have no history of understanding what kind of teams are behind the project and how we can protect ourselves from when the scheme collapses unexpectedly.
Co-founders of a project can still walk away freely without explaining why their project collapsed. Investors may never be satisfied on their losses to be compensated in the future if possible.
Because the original intent from investors is to make a project impactful for society and put their hope into the project, how can law provide the loss of hope?
https://twitter.com/sherlock_hodles/status/1570107213062062080
There is no way any centralization can provide any compensation for the hope, and punishing individuals may only have a temporary warning effect in the crypto space. Yet, scams and rug-pulling continue in the space.
People will continue losing money in the crypto projects they later got scammed from.
Only true decentralization can help and prevent all troubles bad actors made in the crypto.
One who wants to enter and join into crypto should genuinely understand what decentralization means to you and identify true decentralization before entering any project funding support or spending your hard-earned money.
Here are 3 conditions of true decentralization:
a mechanism to prevent central figurehead
a mechanism to validate everything is true
a mechanism to prevent duplication
You will have to pass these 3 tests to get true decentralization.
Otherwise, every crypto project is a potential risk of failing into a single-point failure - a catastrophic event to collapse the project entirely.
Bitcoin is a nearly true decentralization, except they closely validate everything is true.
Ethereum, on the other hand, is centralized because it fails the first test.
https://twitter.com/VitalikButerin/status/1570097258854580224
Ethereum 2.0 improves its decentralization a little more.
Decentralization is a key to making crypto sustainable.
If you enjoy reading my articles, buy me a coffee here.
Photo by Wesley Mc Lachlan on Unsplash
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