freeing crypto investment?

[Karl]

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On 1/22/21, jamesd at echeque.com <jamesd at echeque.com> wrote:
> On 2021-01-22 22:00, Karl wrote:
>> just trying to spark a little dialogue
>>
>> So you know, a cryptocurrency trading bot can make over _1%_return
>> _per_day_ on investment, trading on cryptocurrency exchanges.  This is
>> because of political attacks on cryptocurrency markets preventing the
>> prices from stabilising.
>>
>> it would be helpful to work with people of opposing politics on such
>> things, so we can become wealthy.  personally, i have no income at
>> this time, and have spent my savings.

<snip: karl mentioned some experiences that stimulate paranoia>

> The crypto currency exchanges are run by crooks and are full of crooks
> scamming crooks.  (So was the Mortgage Backed Security Market)
>
> If you don't know who the pigeon is, you are the pigeon.
>
> As a very smart man recently posted, we need to replace the crypto
> currency exchanges with atomic transactions between blockchains.

True.  I have a feeling that somebody's implemented that already, but I
don't know where to find it.  I believe Ethereum does this, but only for
on-chain currencies.  I saw people discussing new ideas for doing things
like this with any chain at all, around the time Qora died.  I wasn't close
to the community.

It sounds like it's important when developing software, to be very clear
and honest in the user interface, about the implications of what is going
on.

Having been through this shit myself, I find Bitshares sufficient.

1. We'd want to write code in a portable manner, so it can be migrated to
other platforms when needed.

2. We could measure the relative trust of on-chain exchanges by verifying
their price and liquidity relative to other, competing on-chain exchanges.

3. We could measure the overall safety of a given exchange by automatically
verifying liquidity with it and the actual chains we are trading with.
Merging this verification with actual withdrawals and deposits would deter
malicious gaming of the test.

4. If no exchanges are trusted, we could run our own on-chain exchange.

I might skip 2 and 3 for now and focus on researching using 4, for once
there's an issue.

Did you get the part of my e-mail, which you didn't quote, that mentioned
bitshares?  I sent a public key to Punk via a different channel.

karl
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