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 ...
There are so many promises from cryptocurrency.
Dated back in 2014, one of the promises of Bitcoin is to become a future payment system.
You may question the advantage of using Bitcoin as the payment system rather than using said Paypal?
Bitcoin isn't the fast transaction alternative, and transaction fees aren't that cheap if you include all the mining energy of running the entire nodes.
Bitcoin has not reached anonymous and is not truly a trustless blockchain network.
Bitcoin is not decentralized but a decentralized like centralized system.
In the early stage after Bitcoin was released in 2009, there were only 6 major miners to control the entire system.
Bitcoin is not decentralized as many people believe.
And Bitcoin is traceable in many aspects and easily be determined through big data collections.
Making Bitcoin decentralized is pushing miners to become more decentralized, which is impossible.
But besides the all myth of Bitcoin that does not add up through the math, Bitcoin is a payment system that potentially anonymously when purchasing goods.
While credit cards have merchant category codes or MCC that can potentially prohibit users from purchasing certain goods or sellers to sell illegal goods online that the government determined, Bitcoin transactions have no codes to prevent transactions at all.
Such apolitical feature helps cryptocurrency to have some degree of privacy.
Of course, such privacy may not sustain as long as when the time comes to the end of the Bitcoin as there is always an expiration time of the encryption, and you should not assume the privacy has no expiration date when technology continues invading and challenging the social norms.
Further readings:
New Research Unearths Insights Into Satoshi and Bitcoin’s Early Days
How ‘Trustless’ Is Bitcoin, Really?
Cooperation among an anonymous group protected Bitcoin during failures of decentralization
There are so many promises from cryptocurrency.
Dated back in 2014, one of the promises of Bitcoin is to become a future payment system.
You may question the advantage of using Bitcoin as the payment system rather than using said Paypal?
Bitcoin isn't the fast transaction alternative, and transaction fees aren't that cheap if you include all the mining energy of running the entire nodes.
Bitcoin has not reached anonymous and is not truly a trustless blockchain network.
Bitcoin is not decentralized but a decentralized like centralized system.
In the early stage after Bitcoin was released in 2009, there were only 6 major miners to control the entire system.
Bitcoin is not decentralized as many people believe.
And Bitcoin is traceable in many aspects and easily be determined through big data collections.
Making Bitcoin decentralized is pushing miners to become more decentralized, which is impossible.
But besides the all myth of Bitcoin that does not add up through the math, Bitcoin is a payment system that potentially anonymously when purchasing goods.
While credit cards have merchant category codes or MCC that can potentially prohibit users from purchasing certain goods or sellers to sell illegal goods online that the government determined, Bitcoin transactions have no codes to prevent transactions at all.
Such apolitical feature helps cryptocurrency to have some degree of privacy.
Of course, such privacy may not sustain as long as when the time comes to the end of the Bitcoin as there is always an expiration time of the encryption, and you should not assume the privacy has no expiration date when technology continues invading and challenging the social norms.
Further readings:
New Research Unearths Insights Into Satoshi and Bitcoin’s Early Days
How ‘Trustless’ Is Bitcoin, Really?
Cooperation among an anonymous group protected Bitcoin during failures of decentralization
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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