@KaspaSilver I don’t know why it has to be one or the other. We need what Igra is building and shouldn’t downplay a solid L2 solution as part of the Kaspa ecosystem. vProgs are a long way off and not even guaranteed. They sound very promising, for sure.
The Stellar $XLM vs $XRP debate misses what actually happened.
$XRP: Partnerships with banks for liquidity sourcing
Stellar $XLM: Banks building on the infrastructure directly
U.S. Bank isn't partnering with Stellar. They're issuing stablecoins on Stellar.
Wirex isn't using Stellar for settlement. They're settling Visa transactions in USDC on Stellar.
Franklin Templeton didn't integrate with Stellar. They tokenized $400M+ on Stellar.
The difference:
$XRP facilitates transactions between banks using traditional systems.
Stellar replaces the traditional systems with programmable rails.
Both solve cross-border payments. One is a bridge. One is new infrastructure.
Processing time: Both 3-5 seconds
Transaction costs: Both fractions of a cent
Network structure: $XRP centralized, Stellar decentralized
Use case focus: $XRP institutional liquidity, Stellar financial inclusion + institutional
The market debated which would win banks.
Banks chose both for different purposes.
Understanding the difference matters more than picking sides.
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@binance,
Thanks for including me in the top 100 blockchain people list, appreciate the signal!
I must decline the Dubai invite though. I do not wish to disrespect, but many of the award voters are avid kaspians who rooted for my kaspa status at least as much as for my research. Let them win or count me out.
Crypto has turned from a euphoric cypherpunk project to a house-friendly casino. You may not be the culprit, but as a top player you hold the lion’s share of the responsibility to correct this, and the October crash your USDe oracle glitch helped trigger adds to what needs to be addressed.
There are three classes of crypto, as @mert put it recently: commercial crypto, casino crypto, cypherpunk crypto. <<Binance should hold a privilege policy for the latter.>> A TBTF CEX should know better and play a different game with hardcore crypto projects.
When binance lists a green frog three weeks post its “launch” but skips a fair-launched-Nakamoto-Consensus-100ms-upgrade-ATH-top-20-the-only-nonbitcoin-marathon-mined project, this is not merely binance rationally calculating; it is also binance molding the market in a way that is alas misaligned with the roots of the movement.
You may feel that kaspa’s sovereign money thesis is boring – that bitcoin is already money and that implementing an internet-speed bitcoin is useless - fine. Wrong but fine. But what’s the thesis for the green frog?
Money is a classic chicken-and-egg product. It is a scam up until one moment before tipping point, “most of the value comes from the value that others place in it.” Considering your resources and influence, I think it's safe to say you can serve as both the egg and the chicken and make it worth your while to push sound attempts towards tipping point.
@cz_binance tweeted recently that “strong projects will be listed.” But binance is part of what defines "strong", it bears responsibility for the market’s compass and impulse and definition of strong. It is not a read-only entity.
Binance listing fees are legit, they are just unfit for category cypherpunk. Kaspa devs and early supporters fairly mined less than half what satoshi and hals mined. We don’t have a 20% ZEC-style founders’ reward or protocol-enforced dev fund; this is not a jab at ZEC and the wonderful @Zooko, who was crashing in my car on a late Thursday back in the low ZEC MC days – if somebody deserves to win it is zooko – but assuming binance is not taking a maxi bet, it should revisit its relationship with hardcore crypto.
We are here through bull and bear, ICOs NFTs XYZs; and we are the source of confidence that restores faith and capital inflow post meme-induced or CEX-induced crashes.
Please fix this.
Thanks again,
hashdag
cc @michaelsuttonil
Exhibit A: Binance Innovation Zone
Exhibit B: 10 bps Nakamoto Consensus
Shapeshift Fox looks like it has had the life sucked out of it in the “Pit of Despair.” Has Count Rugen defeated it or is it only mostly dead? I still like the $FOX…I think?
18 months later and I’m sticking to it. Binance has played an irresponsible game as so often and depressed the price over months. Ethereum influencers and Bitcoin maxis have ridiculed Kaspa without having the slightest idea what a BlockDAG is. Retail bros have disparaged it beside of idiotic TA.
With all the talk of Bitcoin DeFi and payment, the promise of massive demand etc and even with pension funds being able to buy Bitcoin, it is still struggling to go up. More importantly, Bitcoin has never achieved the e-cash status Satoshi envisaged. Go read the original white paper and not a single promise in there has come true except for the basic tech.
The Bitcoin is Gold narrative is simply not realistic, as every geopolitical crisis shows. And yet millions are drinking the kool aid. The future is multichain, including permissioned and permissionless, special purpose chains and payment system. There is no ring to rule them all. 🧙
But there is one that stands a chance of becoming real e-cash system with thousands upon thousands of transactions a second at virtually zero cost. @hashdag spent decades creating something wonderful, simple, and sound. No flashy marketing no empty promises.
I lost nothing in the crash, because I sold nothing and I do not use leverage trading. Buy and hold. Still, that was WILD to watch those red bubbles get bigger and my portfolio shrink.