/biz/ - Business & Finance

[Anonymous No.12206376]

>tfw you are almost a whale in the most ambitious crypto project since ETH
>tfw as the platform is adopted more and more, and more MKR is burned, you will soon become an elite member of the ruling class with your voting rights and token burn

I'm basically in line to be king of the new world, peasants.

[Anonymous No.12206425]

same, you guys can start accumulating now.... im done filling my bags and am strapped in :)

[Anonymous No.12206434]

>>12206376
one of the few ETH projects that actually has a working product and good short-term prospects

[Anonymous No.12206445]

>>12206376
>tfw you larp on 4channel

[Anonymous No.12206455]

>tfw you're a 2 makerlet.

[Anonymous No.12206524]

>>12206376

Yep, this. No idea which group of discord pajeets you represent, but as an ACTUAL early buyer & user of the platform, it's just amazing so I'll add to your shilling. Stablecoins are the future, and DAI is the most transparent there is. Why people aren't acting as their own central bank and issuing their own currency I'll never know, people have been posting about this all year and there's STILL brainlets not aware of it. And 100% - hold MKR. The ratio with Eth is going in one direction only, and has been even in the bear. It's one of the only dapps that sees decent amounts of organic usage. Multicollateral is out soon too - it's gonna explode.

[Anonymous No.12206527]

>>12206455
That's unironically enough to make it friendo.

>>12206434
>good short term prospects

Sure it has great short term prospects, but the long term prospects are even greater. When Bitcoin is enabled as collateral this shit is going to explode.

[Anonymous No.12206564]

>>12206524
How many do you hold?

[Anonymous No.12206617]

>>12206376
yup great project, will moon because people are greedy

[Anonymous No.12206724]

>>12206564

Kek, enough anon. Enough....

[Anonymous No.12206806]

>>12206617

Nothing to do with greed (exactly). It's not more pajeet vaporware - it's been live for a year. It performs as advertised, flawlessly. Multicollateral CDPs will allow for assets like DGX to be staked, meaning companies & individuals can hold their wealth securely & gain access to liquid capital (via DAI) on demand. Hell, there's already whales on Compound (a DAI lending platform/smart contract) trying to cover bad positions in the bear market - you can issue DAI from your MakerDAO CDP & lend it to them to arbitrage the difference between the effective MKR rate and the rate of return on Compound. And all of this requires the MKR token to be slowly burnt, along with the fact that everyone using it is soaking up the supply. It's real value, the promise of crypto made manifest. So "greed"? That's nothing lol. This has far more genuine reasons to moon than anything else around. Hell, nearly 2% of the total Eth supply is now locked in MakerDAO CDPs, and that number is only going to go up as people start using DAI for payments to other contracts instead of Eth (except the gas price obviously).

[Anonymous No.12206839]

>>12206527
how much do you think maker will go?

[Anonymous No.12206853]

I think makerdoa will fuel the next crypto bull run, a leverage fueled ETH / MKR bubble. This ETH > BTC flippening with occur. People will FOMOing hard to put their ETH into CDPs to buy more and more ETH. This combined with casper makes ETH look scarce as fuck. I think it will blow through the last ATH of around $1400 easy, and probably hit $10k or more. Anyone with 100 ETH or equivalent in MKR is a future millionaire no joke.

[Anonymous No.12206870]

>>12206376
>bought jewbrel over this

[Anonymous No.12206877]

any tips you guys are using it?

[Anonymous No.12206902]

>>12206376
>goes to smart contract
>copies the source code
heh, nothin personnel, kid

[Anonymous No.12206910]

>>12206853
In the near future they will be accepted Bitcoin as collateral.

[Anonymous No.12206931]

>>12206376
I did. Then I bought shitcoins with it that tanked further.

[Anonymous No.12207185]

>>12206910

Yes. There's a few projects to make cross-chain viable - one a real tokenised Bitcoin is available it'll be stakeable.

>>12206902
>t. What are network effects
>t. What is a fully developed platform
>t. "Everyone will just magically accept my imitation DAI"
>t. "I know guis, let's make another Facebook! Can't fail!"

You're a special kind of retarded eh anon?

>>12206853

Yes, frankly it will be a major driver of the next bullrun. The big concern people have is the volatility of the market - businesses don't care about moon missions, they want a stable price ratio with fiat. DAI gives them that. Funnily enough, this means the price of Ether is probably going to stay fairly low, while the price of MKR explodes. Reason is, Ether itself is actually just a utility token to pay gas - which is why Vitalik values it at $7. Actual day-to-day payments should be conducted with DAI, so the situation we had last year where demand for Ether was being driven by shit like Powh will drop. Ether will end up as gas & staking only, still a good hold but it won't be going to 100k or anything. Even for MakerDAO staking, expect that to mostly be decoupled assets like DGX (tied to gold price) as nobody wants to get liquidated everytime Bitcoin shits the bed because the some retard like CSW is throwing a tantrum.

>>12206839

Unlimited potential upside. If things play out as I expect, and MakerDAO becomes the Federal Reserve of the crypto world, and big players like Swift start using anything to do with smart contracts & using stablecoins (and there's no reason not to expect that to happen once Constantinople drops), then MKR is going to be insanely expensive (imagine buying voting rights on the US federal reserve back in the early 20th Century - what would that be worth today?). Personally, I expect it to flip Bitcoin (and Ether itself) if all plays out correctly.

[Anonymous No.12207212]

>>12207185
Based.

[Anonymous No.12207236]

>>12206376
The only whale in MKR is Polychain. You're still the peasant

[Anonymous No.12207246]

>>12207185
Based and redpilled when I made this thread I was literally comparing myself to being a chair on the federal reserve.

I only have 10 tokens but once the burn goes into hyperdrive that might be a significant amount and have a decent say in the governing of the platform. I expect it to unironically hit 10k within the next 5 years and that's valued based on a reasonable PE analysis.

[Anonymous No.12207259]

>>12206910
When is the happening specifically?

[Anonymous No.12207267]

>>12207259
Not sure. Probably a few months. Someone asked on the subreddit this morning and the response was:

"The engineering team still isn’t ready to commit to a launch date yet, but the top priority is to try to get to a point where we can commit to a timeline and a hard launch date. We’ll also give more updates about progress soon and share more about what milestones are still left."

But the team really delivered so there's no reason to doubt it won't be in the near future.

[Anonymous No.12207284]

>>12207236
Is investing into polychain the BIG BRAIN play then?

[Anonymous No.12207292]

>>12206877

Yep, a few. Create your CDP at the bottom of the market (ie like $80 a week ago). That means the buffer when the market returns to mean is going to be large enough to absorb big swings. You can add more Ether in if you get worried, but still - closer to the bottom the better.

Use your DAI to acquire an asset you expect to rise faster than Eth. I used mine to buy MKR, Link, Holo, ZRX, BAT and a few others (at good entries). Am well in the green, and already taken some profits to expand the CDP. Mainly just accumulating for the next bull (I'm still pretty bearish, expecting another year).

For a real secure money making gambit, send your DAI to Compound - lend it out to whales at about 20% APR vs the roughly 2% APR your CDP cost. Boom, 18% pa returns - not a crazy moon like we love in crypto, but once you're a whale and want low risk methods, doing stuff like that is a good idea & still better than typical normie returns.

For further gainz, there's a bunch of bots called "keepers" that the community are encouraged to run. Think arbitrage bots, market makers, liquidate at-risk CDPs etc. They help keep the price stable and provide liquidity. If you want, setting up a VPS or 2 is a great way to create even more gains while contributing to the platform stability.

And lastly: understand that when you use MakerDAO you really are acting as your own bank, so read everything carefully, understand the platform, and monitor it closely. It's pretty simple once you have your head around it, but nubs often find it tough to understand.

[Anonymous No.12207320]

>>12207267

This is the other reason I love em. No bullshit false promises - getting it right is number 1.

[Anonymous No.12207333]

>>12207292
I don't understand why people are paying out 20% APR on DAI loans. Why is this? And where do I go to loan out my DAI?

[Anonymous No.12207356]

>>12207246

Yep, 100% this. I'd be still trying to get more than 10, but really any amount is going to pay off eventually. It's such an incredibly important project and barring the total collapse of Ethereum as a platform it's as close to a sure thing as I can think of.

[Anonymous No.12207373]

>>12207333
Compound DApp

[Anonymous No.12207405]

>>12207333
>https://compound.finance/

It seems to be mainly whales that got JUSTed on shit like REQ, and who need to desperately borrow more DAI (probably to add to their own CDPs or average down, or simply not sell at a loss). So anyone else (including non-JUSTed whales) can lend to them. You could also potentially use it to "stake by proxy" until Multicollateral drops.

[Anonymous No.12207411]

>>12207373
Is that also made by the same team?

I have some ETH I don't plan on spending at all. I wouldn't want a loan to gamble on shitcoins but if I could earn a safe 20% on top of the ETH appreciation that sounds pretty sweet.

[Anonymous No.12207420]

MKR is king. With the rise against ETH, it's by far now my largest holding. I got in to ETH in 2015 and MKR mid-2017, so if not a whale, I'm a dolphin. They are the most serious, competent, no-bs-just-get-things-done team in the space. They're working on full formal verification of the whole system and multicollateral dai will be out soon, vastly expanding the available dai supply and CDP use cases. I've been using a CDP to lever up into the ETH dip, and while I wish I started buying somewhere less than $280, I've still got buy orders lower on the books just in case. Maker is my last great hope, and so far it's going very well.
>>12207333
There's a REP whale who also has a large CDP close to liquidation. They're borrowing dai against their REP and using it to wipe CDP debt and avoid liquidation. So at the moment there's huge demand for dai lending.

[Anonymous No.12207464]

>>12207411

No, a different team. They post on medium etc fairly often, and seem OK at first glance. Anything involving lending is heavy dyor though, so I'd suggest researching it first and not betting the farm. But yeah anon, that Eth can go straight into a CDP, issue DAI and send to Compound & you'll be enjoying that APR by tonight. Or hell, just buy the DAI directly on a DEX if you're worried.

[Anonymous No.12207553]

>>12207420
Full formal verification? You mean like a KYC? Because I think the reason it's so popular now is that there is none of that bullshit.

[Anonymous No.12207581]

The delusion in this thread is scary, feels like im in a LINK thread.

[Anonymous No.12207587]

>>12207581
If Link had a fully operational product that would burn the token supply on usage I would buy that too.

[Anonymous No.12207594]

>>12207553
No, verifying the code. Using a computer-assisted mathematical proving system to prove that the system will act as it should, given certain know assumptions.

[Anonymous No.12207639]

>>12207581
They're the only crypto team aside from og btc and eth that has delivered a useful reliable product and on top of that has managed to not fucking embarrass themselves.

[Anonymous No.12207905]

Why do we need another stablecoin? there are so many in the market already. Why do I need Maker to have DAI?

[Anonymous No.12207919]

Does anyone actually use DAI for anything or is this just another autistic fantasy that will never come to fruition?

[Anonymous No.12207928]

>>12207919
Because DAI is the only truly decentralized stablecoin with transparent collateral. It BTFO all the other stablecoins. Unless you believe Bitfinex has three billion dollars sitting around in a bank account somewhere even after this market rape.

Even then, you are only "believing" and will never see any proof like you can with dai.

[Anonymous No.12207936]

Sorry >>12207928 was meant for >>12207905

>>12207919
Read the thread. It's a stablecoin. You can loadn it out and earn 20% annual returns just sitting on it. Sell it for other crypto, ect.

[Anonymous No.12208029]

>>12207936
So the goal is to make DAI number 1 stablecoin so MKR can moon? Do I just hold MKR or do I need to create a CDP to max gains?

[Anonymous No.12208096]

>>12208029
Did you even read the thread?

It's all different things and pretty complicated, DYOR but here's a quick rundown.

MKR is the token for the system that needs to be used to pay off your interest. It also grants you voting rights. You don't need it to open a CDP only when you close one.

DAI is the stablecoin that gets minted if you open up a CDP. You stake your ETH as collateral and it gives you a loan in stablecoins (dai).

So if you want to leverage your ETH and invest the money elsewhere you can open a CDP. If you want to invest in the future of the ecosystem and profit off of it you buy maker. You could use your ETH as collateral and use the money to invest in mkr.

[Anonymous No.12208104]

>>12208029
I personally wouldn't touch this shit. I see these faggots shilling all over reddit all the time. Especially on /r/ethtrader.

[Anonymous No.12208202]

>>12206376
Can someone explain a scenario in which one would get liquidated? Just trying to understand

[Anonymous No.12208235]

>>12208202
The value of ETH crashing dramatically without you adding more ETH or paying down your loan with DAI in time. I don't know what percent gets you liquidated. They are pretty cautious with lending and I don't think you can take out more than like 50% of the value of your ETH in collateral to avoid people getting liquidated. You'll have to research the exact thresholds for liquidation though.

[Anonymous No.12208329]

>>12208096
Thanks, I will keep searching... As of now, NEXO is my bet for the loaning market. MRK seems interesting because it adds a stable coin to the mix and for that can have more potential long-term. What do you think about NEXO?
>>12208104
Well with all these stable coins popping lately I can see the potential for a stable coin that is collateralized in crypto and fully transparent.

[Anonymous No.12208346]

>>12208096
Thanks, I will keep searching... As of now, NEXO is my bet for the loaning market. MRK seems interesting because it adds a stable coin to the mix and for that can have more potential long-term. What do you think about NEXO?
>>12208104
Well with all these stable coins popping lately I can see the potential for a stable coin that is collateralized in crypto and fully transparent.

[Anonymous No.12208495]

>>12207919

Seriously? Go onto almost any DEX running on Ethereum. Oh look, a DAI section. It came to fruition over a year ago, and while there's a highly anticipated update to the platform itself, it's not in Alpha or anything - it's a finished product fully usable today. No Pajeet vaporware here.

>>12207905
You don't need Maker to hold DAI. You can just have DAI the same way you have any other ERC-20 token. But (since you obviously haven't bothered to actually read the thread), the whole point of MakerDAO is that it's basically a Central Bank on Ethereum. Only, instead of shady (((people))) issuing currency, anyone with some spare Ether & Metamask can deposit it into the MakerDAO smart contract & use it to back the issuance of DAI. Since you're obviously a brainlet, I'll spell out the implications of that - YOU can issue your own dollars. And the upgrade we're waiting on will allow for DGX to be used - and DGX is a "tokenised Gold" stablecoin. That means YOU can issue your own Gold-backed USD equivalent currency. Now, think of all the MANY ways in which you can leverage that using the same kind of things as the banks do (buying other assets or lending the DAI out) to make money.

Make sense now why it's important? And the MKR token gives you voting rights, as well as being used to pay the (very small) interest rate on the CDP (the contract that you have your Ether locked into to back your DAI). In other words, it's like owning a percentage of the Federal Reserve. And no, you don't need to hold much at all, you can even set up a front end that just buys MKR at market & uses it for the CDP fee as required. But why wouldn't you want a seat at the table as a founding member of the new World Bank (because I'm not exaggerating to say that's what it could become if all goes well).

[Anonymous No.12208509]

>>12207581

Explain in detail what you mean by that. What are your concerns? It's a public smart contract, it's functioning today. What are your criticisms of it?

[Anonymous No.12208542]

>>12208235

That's happened to me BTW - I had one open and was on a long flight. It's not the end of the world, you get the staked value back less a penalty. Taught me to REALLY pay attention though.

>>12208104
Explain, in detail what the issue is. Do you comprehend that people simply discussing a WORKING platform isn't the same as shilling? I don't give a flying fuck if you buy MKR or not, it's already being used by the biggest Eth whales out there. I'm posting this for the benefit of new people that think closed, scammy shit like Nexo (for borrowing) or Tether (for stablecoins) is the only alternative. Being your own bank is what it's all about.

[Anonymous No.12208566]

I'm an EOS fag and I cant even deny that DAI has changed my mind about ETH on many fronts.

[Anonymous No.12208570]

>>12208346

Nexo is a closed platform. You have to trust that they'll give you your funds back - ie you don't REALLY have full power. They could exit scam tomorrow & you'd be screwed. I used to hold a sizeable amount, but they have consistently broken promises & changed their tune on dividend payments and whatnot. 100% decentralised is the only way to go.

It's also quite different - it isn't acting as backing for a stablecoin or something. The Lending part in MakerDAO is only there to ensure there's assets backing DAI.

[Anonymous No.12208571]

>>12208202
Only if you have a CDP (collateralised debt position). If you just have dai you don't have to worry about any of the cryptoeconomic machinery behind the scenes. If you want to borrow dai then you have to maintain at least 150% of its value in ETH backing it, so if the ETH price falls enough you'll get liquidated. Enough collateral ETH will be sold to recoup your debt, interest, and a 13% liquidation penalty, and you keep what's left.

[Anonymous No.12208572]

>>12206870
At least they didnt exit scam.

[Anonymous No.12208584]

>>12208566

Incidentally, if Eth exploded and EOS turns out to be the Eth killer, redeploying MakerDAO on EOS would be doable It'd be surprising if we don't see clones on various other smart contract platforms actually. I'm interested in building one on Holochain once it drops mainnet.

[Anonymous No.12209077]

>>12206376

Here’s the one problem no one has mentioned:

Maker MKR is also minted - meaning the supply gets inflated - on certain conditions. I don’t understand it fully but relates to when the collateral for a loan doesn’t cover the liquidation cost.

[Anonymous No.12209120]

Good thread guys, interesting stuff in here. I have been following the MKR project lately and I agree with the sentiment. This project is essential to the ecosystem and it is being ran by a competent, motivated team that delivers. Would definitely say this is one of the best coins to invest in right now, at this given time.

However, the one thing holding me back is how taxation will be done with this asset. I'm still a little too scared of the government and I'll already have a tough time with them concerning my huge bag of link tokens and the income of the node I would like to run. So, yeah, at the moment I'll just keep my all-in stack of link and hopefully, in my interest, link will become even bigger than makerdao. Even though I'm certain that they will work together as well.
Best of luck to you guys who invested in it.

[Anonymous No.12209522]

>voting rights

[Anonymous No.12209557]

>>12209077
>Maker MKR is also minted - meaning the supply gets inflated - on certain conditions. I don’t understand it fully but relates to when the collateral for a loan doesn’t cover the liquidation cost.
I believe it's an extreme situation and haven't happened yet
might happen if they drop lower than 150% collateral, but it's still an extreme case every would rather not occur

[Anonymous No.12209600]

>>12209522
>stocks give you the right to vote on the board of directors

[Anonymous No.12209701]

>aware of MKR since mid-2017
>great project but opacity re: distribution and tiny community made me conservative
>bought 1 at 0.55 eth
>bought another one at 1.3 eth
>watched the eth ratio rise with adoption
>"why would i buy this at 2 eth when i could have had it at 0.55 before"
>never been able to break through psychological block
>now at 4.2 eth
hurts just a little
but even 1 MKR isn't so bad, in the same vein of holding 21 BTC or 120 ETH. look at the crypto top100 and tell me this is not the project most likely to attain BTC/ETH clout

[Anonymous No.12209753]

>>12206376
LoL. People said the same thing about BLOCKNET at $45. Current price : $1. this is your future if you don't sell now.

[Anonymous No.12209786]

>>12209701
"but even 1 MKR isn't so bad, in the same vein of holding 21 BTC or 120 ETH. look at the crypto top100 and tell me this is not the project most likely to attain BTC/ETH clout"

LOL. Sell signal.

$200 EOY. $50 EOY 2019.

[Anonymous No.12209816]

>>12209753
>>12209786
>LoL
>reddit spacing
you need to go back

[Anonymous No.12210235]

>>12209701
I did the exact same. Have faith, though, as the big boy angel investor's token lock-up has ended last week, so price should trend downwards for a while before MCD

[Anonymous No.12210301]

>>12210235
>as the big boy angel investor's token lock-up has ended last week
please elaborate

[Anonymous No.12210333]

I'm retarded, should I just buy this shit like a normal crypto? I don't wanna vote I just wanna ride the wave with you guys to Ferrari money.

[Anonymous No.12210360]

>>12209753
>>12209786
stop sperging all over my blogpost... nobody cares what you buy or don't buy, buddy. stay in your shitcoins and their partnerships. DON'T buy MakerDAO, and this is not reverse psychology

[Anonymous No.12210379]

>>12210235
that's good to know, anon, thanks. combined with the coinbase listing i could see the liquidity for a good VC dump. it's especially interesting MKR isn't following ETH pump today

>>12210333
you can buy this like a normal token, hardly any MKR holder uses their voting rights. frankly, governance is a meme at this point in the game. it's a lofty goal for 5+ years horizon, once the protocols mature

[Anonymous No.12210581]

>>12208584
Good fucking shit man. This is gods work son.

[Anonymous No.12211181]

>>12209077
MKR is the collateral of last resort, that's what the interest pays for; the accumulation of a pool of capital to back dai if an asset crashes faster than CDPs can be liquidated. The idea is to incentivise good governance by having MKR token holders, who have the ultimate vote on everything in the system, financially responsible for the smooth functioning of the system. So everyone is incented to not just passively own MKR but actively participate in the governance and risk management, to avoid having their tokens diluted in a crash.
>>12209120
MKR may actually be in a better taxation position than LINK since there is no income, the price of the token is just driven up by buy&burn. So you only have to worry about capital gains when you sell.

[Anonymous No.12211353]

MKR

Out of all the coins on shitbase - this particular coin has the worst distribution percentage. As of yesterday, 92.54 % of ALL MKR is held in 100 wallets.

[Anonymous No.12211412]

>>12211353
Like 79% of that is in the top 3 of which none are personal wallets and one is actually old tokens

[Anonymous No.12211540]

>>12206376
This is shit

Buy tezos

[Anonymous No.12211610]

>>12207936
You're absolutely retarded.

[Anonymous No.12211933]

Just a word of warning to brainlets stumbling into this thread.

Be careful. A lot of people pretending to know what they're talking about will take advantage of you if you don't understand how this works.

Their information is very distorted and hopium is full of things such as 'The new Federal reserve'.

Don't fall for it, they're pumping their bags.

Stay safe anon and do your research, if your buying into projects you don't understand you'll be forever poor

[Anonymous No.12211962]

>>12211933
Name one better project you mouth breathing retard.

[Anonymous No.12211971]

>>12211933
so any /biz/ thread...

[Anonymous No.12212025]

>>12211962

I didn't say it wasn't a good project, they're a reliable team and deliver.

But when hopium statements like 'The new Federal reserve' are thrown around it's inaccurate and those who don't understand the project may fall for the hopium.

There are other projects out there better positioned and making more progress delivering and towards adoption. You can piss off if you think I'll dump months of research to prove myself right.

MKR is already overpriced based on hopium statements in this thread being echoed on Reddit.

I'm not saying it's a bad project, just a bad short term investment at the moment.

[Anonymous No.12212029]

>>12211933
we're either telling you to not buy it at all, or to watch an investor dump for lower prices...
>inb4 muh reverse psych
fuck off retard. if your newfag ass had been around, you'd know we've had quiet MKR threads for a good year and a half. while morons jumped on every shitcoin during the ico bubble of early 2017, MKR threads got to 6-8 posts xith everyone agreeing and moving on
and NOW that normies are finally catching up, you're making up some convoluted shill theory
interest in MKR is the definition of organic, and you're the 2016 adopter rationalising ETH sucks because it's talked about on r*ddit
>inb4 muh moon
nope, interest != valuation, and valuation != value. MKR could go to 0, risk is much higher than BTC or ETH, distribution is indeed stacked. don't buy, tell your friends not to buy and fuck off with your "advice" so we can go back to comfy threads between adults

[Anonymous No.12212100]

>>12212025
What collateral projects are making better progress and being better adopted than DAO? It has nearly 2% of the entire ETH in circulation being staked for loans right now. There is no project even close to it in crypto in terms of adoptions.

You don't need to dump months of research. Just name one project that you think has more adoption besides ETH and BTC and you will get laughed out of the thread.

Anyways don't buy, I was just bragging I don't want an actual brainlet to own this with me.
Yesterday alone about 50 MKR were burned from the supply which is about 22k and more than anyone on /biz/ can afford anyways.

[Anonymous No.12212102]

>>12206376
Not buying ylur shit pajeet

[Anonymous No.12212201]

so you can basically send ether to the CDP contract, you get DAI in return, you buy more ether with it so you now have free ether + staked ether?

[Anonymous No.12212243]

>>12212201
Essentially yes. Your ether isn't staked, it's just collateral. You borrow dai against it and use it to buy more ether, going long ether in a trustless decentralised manner. And whoever bought your dai gets to keep stable value on the blockchain.

[Anonymous No.12212260]

>>12206376
kek l4fag

[Anonymous No.12212323]

>>12212243
but other than longing ether there's just no other function

like whats the difference between staking eth and getting dai in return, than just selling eth for dollars? except you are better off if ether value rises and if it falls you're screwed, so why not just hold ether or long it 2x on bitmex lol

[Anonymous No.12212362]

>>12212323
UMMMMMMMMMM
ACKSHAUALLLY
you can take out your DAI and long literally anything, as long as it goes up against DAI($)

[Anonymous No.12212378]

>>12212323
>but other than longing ether there's just no other function
Literally anything you could need to borrow money for
And once multicollateral is on mainnet it won't just be ether.
>staking eth
It's not staking, since you're not risking it to back your participation in a decentralised network.
It's collateral, since you're using it to back a loan.
>whats the difference between staking eth and getting dai in return, than just selling eth for dollars?
The difference is you keep the eth. So you keep the exposure (good if eth goes up, bad if eth goes down)
There's also some tax benefits, loans aren't taxed.
>why not just hold ether
Because you can hold twice as much, and profit twice as much on the next bull run. Leverage amplifies gains.
>long it 2x on bitmex
That means trusting your ether to an exchange. This is trustless and decentralised, also funds a stablecoin, and has really low interest.

[Sage No.12212508]

>>12208104
>unironically browsing /r/ethtrader
>calling other ledditors faggots
WHEW LAD
Talk about the pot calling the kettle a nigger.

[Anonymous No.12212514]

>>12212362
no, you're just longing ether and you buy whatever coin you want for 0.66 of what you put as collateral, again why not just buy that coin for the full amount

>>12212378
you profit twice as much but also lose twice as much if it goes down, like there is no apparent upside except it's decentralized, but you need to bother with sending shit around and waiting, instead of just clicking a button

sorry but im not convinced

[Anonymous No.12212552]

>>12212514
Lots of options you are just a brainlet. I'll lay out some scenarios.

>ETH is pretty low right now I'm not fucking selling but my rent is due.

Take out a 50% collateral, sell the DAI on coinbase, and wait for ETH to recover.

>I want to buy some Link. I think ETH is going to moon hard though and don't want to get JUST'd on the ETH pairing but just in case main net launches unexpectedly I want to be prepared

Loan ETH use the USD to buy Link so you don't get fucked.

>I want to hold my ETH until I die.

Loan it for DAI, then loan out the DAI for additional interest to profit without any risk.

There's thousands of uses but you are a brainlet and can only thing small. This project is very complex so brainlets don't understand or buy it so it's better you stay away.

[Anonymous No.12212554]

>>12212514
you don't understand. You have 10 ETH, each eth is 100 DAI$ a pop (hypothetical), you can safely get 330 DAI$ at a liquidation around 50$, with those 330 DAI$ you can long beanie babies. You buy 10 beanie babies at a yard sale, you sell them for 2x the price. Effectively you longed beanie babies, you now how 660 DAI$. You return half of it, you're left with all your initial ETH, and 330 DAI$ from flipping beanie babies.
It doesn't matter if while you were flipping beanie babies ETH moved anywhere, as long as it was always above 50$. Your debt will always be 330 DAI$.

I don't think we're trying to convince you, it's not really comfy, biggest selling point in it for me is that it's on a smart contract and arthur hayes can't steal my money.

[Anonymous No.12212575]

>>12206376
Overpriced.
Have a look at the article on it by Picolo Reaearch.

Wait until the next black swan happens and DAI are sold for half a dollar or less due to lack of liquidity.

MKR is useless; centralization in stablecoins is a necessary evil since the main purpose is shorting btc

[Anonymous No.12212592]

>>12212575
sorry I'm not interested in dragon ball z fan fiction

[Anonymous No.12212594]

>>12206376
They know about 0xBitcoin.
>pic related

[Anonymous No.12212627]

>>12212514
>why not just buy that coin for the full amount
Because that means selling your eth. Leverage lets you own more at once.
>there is no apparent upside except it's decentralized
That alone is a big upside. Along with the lower interest rates, it's amazing. People already use leverage on centralised exchanges, so clearly the process itself is valuable to people. Decentralising it and tying it into a trustless stablecoin is a whole other level.
>>12212575
>Wait until the next black swan happens
Dai has already kept its value through a 94% drop in ETH price. It's been well stress tested.

[Anonymous No.12212651]

>>12212552
all those are assuming eth will go up, again why not just long eth on bitmex

>>12212554
okay this sounds kinda cool, still the problem is it doesnt do much for MKR price, if the whole concept takes off, its better to just hold eth or long it or whatever, since its needed for collateral

[Anonymous No.12212692]

>>12212651
The real reason to long MKR is that it's used as "fees", so it's a decreasing supply. Which is reasonable, BUT, the fee usage is tethered to the $ value of MKR. So far 0.05% of the supply was burned, and for example of the collateral stays the same, but MKR price does a 10x, the next supply burn will be 0.005%. On top of that, as anon highlighted earlier, 92% of the supply is held by the top 100 addresses. And not even 10% of that is exchanges. That's quite high. So I'm now convinced it's gonna dump. There was never an ICO so that explains the distribution, but the original buying price seems to be 1/10 tops of the current price.

[Anonymous No.12212708]

>>12212651
Did you read any of this fucking thread?

Don't bother trying to buy it, it's mostly trading on decentralized exchanges anyways you probably won't be able to figure out how. Just kys when it hits 10k.

[Anonymous No.12212728]

A governance token will make me rich!
t. Brainlet
Unless you get that sweet sweet interest, governance tokens are worthless, or do you think you'll be able to vote yourself money?

[Anonymous No.12212789]

>>12212728
Except all of the interest (profit) is returned to you through token burns. Over the first year of operation, 450 MKR have been burned. At a cost of about $435 currently that means 200k USD was returned to MKR holders in it's start up year with hardly any adoption. (it was trading much higher during the bull market so in reality probably twice that was sent back to holders).

KYS

[Anonymous No.12212809]

>>12212651
You don't actually read any of these replies do you?
>>12212728
Governance is just one attribute a token can have. MKR benefits from dai via the stability fee on all CDP debt, which is used to buy and burn MKR.

[Anonymous No.12212812]

>>12206527
>2
>enough to make it

Wow I have 20 of these shits imma be a literal king

[Anonymous No.12212821]

>>12207587
>he doesn’t understand yet
This is just it. Nobody can study everything.

[Anonymous No.12212897]

>>12212789
LOL, token getting burned isnt the same as USD being returned to the holders, anyway thats a drop in the ocean, 450 mkr is about 0,045%, so your holding got appreciated for 0,045% in the whole year, thats disastrous returns, might as well put your money in a bank lmfao, buying any token with dividends is better, hell even 1 good swing trade is better than whole year of holding this shit

im out

[Anonymous No.12212956]

>>12212897
>money returned to you this way is better than money returned to you that way
>why aren't you returning 20% in your start up year

I bet you think Amazon is a shitcoin too because it doesn't pay you dividends. There's no reasoning with people like you and you don't deserve mkr anyways. Go back to your Link containment thread.

[Anonymous No.12212994]

>>12212956
don't insult linkies like that

[Anonymous No.12213334]

>>12212575
Astronaut coin
Hedge fund picking ICOs to invest in, backed by piccolo research. Check it out on CMC to see how well its doing...