RE: My path to the light on the Shadow Exchange

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RE: My path to the light on the Shadow Exchange

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quark.top in #tribes • 11 days ago

Yes, the perceived pressure to do something QUICK is real, @achim03.

"I actually read the whole thing wrongly, the rebase was not in 4 hours but in 4 bloody days! I stressed and acted stupidly because of this mistake. Well done..."

Whether by design or otherwise? I am sure this can be hotly debated, but anyone who has spent any time in crypto can almost certainly relate to what you describe having experienced in your post. You did well to test it out with a comparatively small amount of funds. Many who have not been that prudent learn the hard way this valuable lesson.

Zooming out, I find it more and more challenging to accurately discern exactly what some of these platforms are doing with their tokenomics. Combine that with the oft stated goal of improving user adoption and I marvel at the paradox which becomes evident. At least in my mind.

How is increasing user adoption helped by the increased complexity of what the devs have built in too many cases? 🤷‍♂️

11 days ago in #tribes by quark.top

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achim03 11 days ago

I know that I sometimes prefer to act instead to research well beforehand and it played against me in the past on a regular basis. That's why I dedicate some small amounts to exploration first.

How is increasing user adoption helped by the increased complexity of what the devs have built in too many cases?

I totally agree with you. The complexity of these protocols will reduce the target user population quite drastically. I have quite a lot of experience with Defi but still I have to learn a lot each time I deal with a new protocol. This one was way more than average :-). We will need to find ways to reduce the complexity to make these tools available to everybody.

From tokenomics point of view, it's very difficult to understand what is happening in the background and how the allocations, minting and distribution is taking place. Everybody says: do your own research... but man you need a phd for that :-)

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quark.top 11 days ago

Hahaha ... Loved this:

"Everybody says: do your own research... but man you need a phd for that :-)"

Fact! Funny or not funny, but it is all but indisputable.

Why is that?

Well, I definitely have my views on the topic. Which are in a pretty continuous state of being reviewed and refined. To truly even begin to understand, as your posts aptly demonstrates, is not for the faint of heart.

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achim03 9 days ago

After having explored quite a lot of platforms, I start to understand better where to look at. It takes time and dedication to do it but I totally agree that without a in depth understanding, it's better not to use a platform at all.

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quark.top 9 days ago

Yes, @achim03, we are in agreement. Anyone who gets started into understanding crypto outside of the Hive blockchain will almost certainly see reference to being a degen. Commonly accompanied by the various memes out there about "take my money" ...

TBH, I have never understood this mindset. And it is inconceivable to me this type of ... "investor" ... can claim they are applying this approach to crypto profitably. Certainly not long-term.

_{P.S. It is nice to have this exchange with you, as you were the first account on Hive I have elected to follow. Having now decided to start posting, I may write more about this topic myself one of these days. Still very early in my reflecting on this, but thought it might be an encouragement to you to know that.}

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