It’s not “wrapped BTC on Eth.”
It’s “I spent my BTC to an address I don’t control, and all I got was this lousy exposure to Eth which a trusted third party oracle says is worth 1 BTC.” https://t.co/K4qGZ2nusN
@lwsnbaker @TheStalwart @felixsalmon Dai is overcollateralized CDO, where the collateral pool is made up of MLM scheme units that are currently used for virtually no economic activity other than speculation in markets that are thought to be highly artificial.
My family reached the point where they don’t really feel safe in San Francisco.
Within a two week span our kids were playing in a park to find it covered in smeared human feces, then walking on the street a mentally ill man tried putting a used lollipop into my daughter’s mouth.
Markets all time highs. Calif taxes are huge and provide ample budgets to do literally anything to improve the situation. And they make backwards progress. This place has gotten progressively worse in my decade here unfortunately. Sad really as it could be amazing. https://t.co/aNMeVhthkC
@lwsnbaker @TheStalwart @felixsalmon I could overcollateralize a $1,000,000,000 CDO with ten pounds of pink gravel if I wanted to, just engage in one really overpriced gravel trade, mark the pool to market and voila. That’s what it means to do this in Ethereum coins.