Welcome to the Daily Discussion. Please read the disclaimer, guidelines, and rules before participating. Disclaimer: Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could…
Read more
Will 2022 be the year of DAOs? 2021 was certainly a blazing start. The blockchain-related explosive and disruptive innovations seem to come from a shared ontological hunger: that deeper side of the human being that urges us to fill in the void that makes us so different from other animals species. Spoiler alert: the void cannot be filled. But trying –creating, innovating, going against the system, etc– to make something with it is what keeps us moving, conscious, and alive. The opposite is to become purposeless zombies that do exactly everything they’re told to do. What You Should Know About DAOs So, Daos. Smart contracts, decentralization, collectively finding an alternative to the traditional structures: 3 big guys on top and thousands of workers who cannot be part of major decisions inside the environment they dedicate their lives to. Basically most corporations. 2021 was a blooming year for Web3, DeFi, the metaverse, NFTs, and DAOs. It has all started to go mainstream. It’s getting big, it’s everywhere. But there’s so much happening so soon that the bigger picture of these innovations doesn’t have a defined shape yet. Nevertheless, it’s important to approach the urge that lays behind everything that’s exploding around us, because it’s likely about to become part of everyone’s life. So what are DAOs? Decentralized Autonomous Organizations, right, but that didn’t tell you much. “They represent a fundamental shift in the ways humans coordinate”, explained Spencer Graham, project lead of DaoHaus. He suspects many future companies and organizations will be organized as DAOs. He also noted that “decentralized” is probably the most important word in there. Nowadays most of these groups focus on distributing an organization’s power amongst the members of a group in order to make decisions and changes: no guy on top. They introduce the possibility to achieve collective goals without needing to trust everyone on the team –because they simply cannot corrupt the process, and trust relies on the algorithm as the only intermediary– or an external legal framework to keep things on track. The governance of DAOs works to take every vote into account. Nothing will get executed if there’s not enough quorum. You don’t need to be wary of people cheating in the ballots. Imagine presidential elections being that clear. 2021 In Review Heads up: I’m not about to list trendy blockchain organizations. Let’s talk about what’s happening. DAOs are getting harder to define. Firstly, they are a tool for coordination. But if we get into the details, there are so many types of DAOs. Variations depend mostly on the goals: what are they using the organization for? DAOs could replace big entities and give the small guys a chance to compete against venture capitalism. They could also be an investment club, people pooling money because they have the same financial goal. Primarily, in crypto, I think most people are either trying to make money, create something of value, or both. All options are respectable. The people inside a DAO probably couldn’t achieve their goals individually. So people need people. Really, People need people. At this point, we’ve all become a little bit too cynical to believe it, but it’s true. When you truly observe how the most important sides of crypto move –the ones that can directly have an effect on society–, it becomes an unavoidable reality that we need each other to achieve the greater goals. In 2021 we had a DAO who tried –and almost achieved– to buy one of the rarest copies of the constitution. Their effort became so valuable and popular that other DAOs were born to buy things like a Jodorowsky’s Dune Manuscript, and even try to purchase an NBA team. It might sound geeky, but it’s also touching how people are finding ways to access things they could never dream of before –and stick it to the establishment. It’s also important to note that 2021 was also full of despair. People are tired of oppressive and toxic workspaces. Related Reading | DAO To Make Jodorowsky’s Dune Manuscript Public: Member Won $3M Bid The Problem? The passion that these organizations have, hoping to fix big systemic, institutional issues, sounds great and encouraging, but passion always has a dangerous side. There are worries about smart contracts and DAOs: could they be a scam? Can the reliance on smart contracts become problematic for companies’ decision-making? In some cases, information has been withheld from the community and public, which beats the purpose of decentralization and puts some organizations in question. In 2021, we also saw that some DAOs can be wolves in sheep’s clothes. Why? We’ll dig into that in the second part of this article. Related Reading | Largest DeFi Hack Yet? BadgerDAO Hack Results In Loss Of $120M+
submitted by /u/MokanRaz [link] [comments]
We provide over 100+ FREE crypto articles on our SubStack! 😀 (Link on our profile). This is not financial advice. TLDR: So you learned what an IBC is and how important it is to the Cosmos ecosystem. This feature makes the cryptocurrencies built on Cosmos easier to interact with and more efficient to use…
Read more
The English singer, songwriter, and former Black Sabbath frontman, Ozzy Osbourne, has revealed he’s launching a non-fungible token (NFT) collection. Osbourne announced the launch on Twitter alongside a Rolling Stone article that showcases the drop of 9,666 NFT bats next year. Heavy Metal’s Prince of Darkness Launches Cryptobatz NFT Collection Following the stampede of celebrities […]
submitted by /u/relaxxed_ [link] [comments]
Here's the facts. We live in one of the most expensive cities in North america. Average two/three bedroom townhouse here is about 900k. We have finally saved up 15% of a down payment (other 5% covered) and we would love to get into the market before our family expands and before the inevitable interest rate…
Read more
submitted by /u/haxsyn [link] [comments]
Everyone who bought Bitcoin last year the price can still be exceptional. Since we are getting to the end of this year if we compare BTC price at the end of the last year ( $28.890 ), we can clearly see the price is holding very good. Since 2017 Bitcoin went down -30% in a…
Read more
In the last five years, Ethereum has not only taken a significant market share from bitcoin, but it has consistently grown in the same time period. While bitcoin had maintained the majority of the market dominance for the longest time, it has not taken altcoins a long time to come for the majority share. In fact, this year, the market dominance of bitcoin feller 50%. As ethereum’s market dominance has grown, it is important to look at what this might mean for the digital asset and how it may play out in the future. Ethereum has no doubt had an incredible run this year but does growing market dominance indicate a continuous rally? Related Reading | Only In Crypto: A Croissant Explains Web3 And NFTs To Elon Musk Ethereum Dominance On The Rise Ethereum’s market cap had grown as a result of the price surge that the digital asset recorded this year. At almost $500 billion, it remains at only about half of bitcoin’s market cap but has grown to become one of the most valuable assets in the world. Following this, the market dominance of the altcoin has also risen as adoption of the asset had grown rapidly. In the space of a year, the market dominance of the asset has grown 10%, taking most of the share from bitcoin. This has been an indicator of how much the cryptocurrency had grown, as well as some long-term implications. ETH trading at $3,918 | Source: ETHUSD on TradingView.com As ethereum continues to maintain such a large dominance of the market, it solidifies its place as one of the most valuable cryptocurrencies in the space. With its numerous use cases such as DeFi and NFTs, in addition to its real-world applications, it is expected that ethereum will continue to see a larger share of the market dominance. What this will mean for the altcoin is pretty simple. With this kind of rapid adoption will come more demand and as the ETH burn continues to reduce the supply of coins in the market, the value of the digital asset could be hitting new highs in the coming months. Altcoins Taking Control Of The Market In a recent report from TradingPlatforms, it is outlined that altcoins have tripled their market dominance in the last seven years. At one point, bitcoin maintained over 90% of the market dominance. However, as more altcoins like ethereum have grown into prominence and seen rising adoption, this number has dropped significantly. The report states that the rise in altcoin dominance has been a result of a mindset shift when it comes to cryptocurrencies. Many investors believe that bitcoin has already grown too much and is too expensive and as such, are looking at what they believe to be ‘the next bitcoin.’ This has led to the adoption of altcoins as an alternative to bitcoin. Related Reading | Crypto Research Analyst Puts Ethereum At $9,000 In Six Months The author also notes that higher market dominance translates to higher market caps, which in turn plays a major role when it comes to how a cryptocurrency is ranked. Investors will usually look at market caps to determine if a cryptocurrency is ‘safe’ to invest in and “in essence, it’s a pointer to how stable the asset is,” the report reads. Going by this, ethereum may be headed for higher adoption as more investors look towards its market dominance as an indicator of its stability. This points to bullish tendencies as the new year rolls around. Featured image from ElevenNews, chart from TradingView.com
