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[Pinata @pinatacloud]

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[Adsyst @adsyst_]

@elonmusk Your Thanksgiving, brought to you by your brother in law talking about how he came to dinner in full self driving mode in his Tesla.

[Adsyst @adsyst_]

@OmakaseBar Wondering if this is just a test too... High borrow APY isn't enough to dissuade borrowing in this scenario. Maybe Aave could have a calculation that increases the collateral required based on DEX liquidity of the borrowed token.

[Adsyst @adsyst_]

@Ernestonewage @elonmusk @dogeofficialceo @TomFitton SBF was born in 1992, Enron filed for bankruptcy in 2001 when SBF was 9. They hired the guy who was the CEO of Enron AFTER it failed to run FTX AFTER it failed. I can't even comprehend what the conspiracy theory is here.

[Adsyst @adsyst_]

@0xfoobar Proof of reserves doesn't do anything to stop stupid shit like this. You have proof that your deposits are one click away from being sent to the burn address or the address of the CEO's holiday home remodel contractor.
Defi is the only way.

[Adsyst @adsyst_]

@exitliquidity1 @R4vonus @054eth I think we've found the core disagreement.

[Adsyst @adsyst_]

@exitliquidity1 @054eth @R4vonus @Lough Your original quote was "nothing in the world works like this".
I didn't argue this was the only solution, just that property tax works this way. It's not perfect, but pretending that rent seeking ENS squatters is not a problem is digging your head in the sand.

[Adsyst @adsyst_]

@exitliquidity1 @R4vonus @054eth If somebody offers you 30x the annual fee on something I'm not sure how you're the "little guy" anymore.
I'm against people rent seeking on web3 assets for profit only.
You want web 2.1 because you missed out on profits from 2.0

[Adsyst @adsyst_]

@undacappn @Raidrdoteth @4686_eth @054eth Well if we're comparing to web2 domains, then squatters should be able to be challenged if they're not using the domain.
I'm not sure if this "tax" as discussed is the only/best solution, I just think there needs to be a method of disincentivizing squatting.

[Adsyst @adsyst_]

@undacappn @Raidrdoteth @4686_eth @054eth Mortgage isn't the right comparison, property taxes are.

[Adsyst @adsyst_]

@undacappn @Raidrdoteth @4686_eth @054eth My preference would be that if you can prove that you're actually using it, and the DAO agrees, you can avoid the tax.

[Adsyst @adsyst_]

@undacappn @Raidrdoteth @4686_eth @054eth That's fair, but I'd say the situation where somebody wants to use somebullshitdomain.eth but some squatter wants 200 ETH for it, compared to the situation you described is about 100:1.

[Adsyst @adsyst_]

@Raidrdoteth @undacappn @4686_eth @054eth It's not your property really, you're renting it. If you don't pay the registration fee somebody else can take it.
It's just repricing the registration fee based on real world valuation, I think people are just mad because the word tax has been mentioned.

[Adsyst @adsyst_]

@Raidrdoteth @undacappn @4686_eth @054eth I would say "those that are early deserve all the riches" is old-world.
Buying an ENS and sitting on it isn't helping to build the system, it's preventing ENS names from being more widely available for use.

[Adsyst @adsyst_]

@R4vonus @exitliquidity1 @054eth I just don't see how it's better that people that were early get to own all the ENS domains forever for basically zero cost. I'd rather have a world where ENS domains are used for their original purpose, if this costs speculators 3% a year, I don't care.

[Adsyst @adsyst_]

@R4vonus @exitliquidity1 @054eth You would be mad if somebody offered you $100 million for something you bought for $200 and you had to make a choice of paying $3 million or accepting $100 million?

[Adsyst @adsyst_]

@Raidrdoteth @undacappn @4686_eth @054eth There's obviously tweaks that can be made, capping fee increases over time etc.
But right now, it's too cheap to buy and sit on ENS domains for a long time, it's just bad for adoption.

[Adsyst @adsyst_]

@Raidrdoteth @undacappn @4686_eth @054eth You're looking at it from a speculation perspective, the idea of the whole thing is to prevent people from sitting on ENS domains for the purpose of reselling them rather than using them.