> Did you read my comment? AMM's were impossible without blockchain.
I did. Let's see:
Me: "no one can provide even a single one that... isn't relying on circular references"
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The most basic to me is the Automatic Market Maker system. For example Uniswap is a system with only a few (relatively speaking) lines of a code at its core and a team of a couple of dozen.
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Oh, look. A thing that only exists to perpetuate the never ending circle of speculation and scamming using the fictional tokens, and useless for anything else. Circular references abound. But sure, it can give you an instant price between two fictional tokens. Wow. Innovation.
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The system does billions of dollars worth of trades every day. If anybody can point out to me a broker that does similar volumes that would allow me to make million-dollar trades with a few lines of code
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1. It does't do billions of dollars every day. It exchanges some mythical tokens for some fantasy tokens that are completely entirely useless outside their own systems of reference (a.k.a. almost entirely exclusively speculation and scams)
2. This is the description of algorithmic trading and HFT. Except, it's not high-frequency, and it's not trading.
3. The moment those "few lines of code" execute an erroneous trade (because, you know, code), these "multi-million traders" will immediately cry foul, and ask for reverts, regulations, hard forks and all that.
> As always all great projects are easy to dismiss until one can no longer do it.
There are very few great projects that are easy to dismiss, and there are many shitty ones that are all too easy to dismiss. Somehow every single crypto project views itself as the great one.
And yet, no one can provide even a single one that
- doesn't already exist, and works more efficiently without blockchain, or
- doesn't require blockchain for any of the claimed properties and advantages
- isn't relying on circular references