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Great question -- this is a good chance to explain how vSpaceX works.
vSpaceX represents *debt* issue by vaults that hold Ethereum. This is exactly the same model as how DAI works with MakerDAO. This means that there is no theoretical upper bound in the number of vSPACEX tokens that can exist -- just like there is no upper bound on DAI.
The value of vSPACEX tokens is obtained from the ETH in vaults, and the fact that after SpaceX IPOs, the tokens will settle to the SpaceX value.
If you want to buy a token related to ItoVault that has a max supply and will only decrease over time, you should wait for a potential ItoVault Token to be distributed!
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Yes, vSPACEX is still based on the ItoVault system and we're open about that. In fact we linked to that exact other thread ourselves with the sentence "Based on the open-source ItoVault system."
We actually have both vSPY and vSPACEX trading, and we're open that they're based on the same concept and linked to the same system (thought vSPACEX has different smart contract features like using a Uniswap TWAP price).
We did vSPACEX after running two polls after launching vSPY, and customers telling us they'd like to see a SpaceX pre-IPO token. Since each token takes substantial time to make and maintain afterwards, we don't have any intention of going with hundreds of symbols.
How does having more desirable symbols after user feedback detract from previous ones or make them less trustworthy?
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Yes -- I definitely believe that Bitcoin is taking the wind out of the sails of gold as an inflation hedge. Gold has not gone up nearly as much as in the past when inflation was a threat.
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Yup, it almost sounds too easy, but the best way is to do what you get paid highly to do, and convert that to ETH.
If your pay is relatively low (e.g. minimum wage or lower) there might be good tricks you can do online. Like coinbase promos. Or odd jobs and promos companies do.
But you have to realize that technically savvy people from low-income countries also have access to these opportunities. A driven techie in India making $10 a day is competing with you. He's willing to go after $2/hour opportunities -- are you?
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Okay just finishing collecting feedback for the next iteration on this and other forums. It seems like the features people would like to see the most include:
- Tokenizng assets other than the SPY, especially ones that are hard to get normally.
- Having a more decentralized oracle system. This is the last piece of centralization in V1.0, so the next iteration will definitely need to drop this.
Other requests that are on the list:
- Allow USDC/DAI as collateral in the vaults instead of ETH. This will allow margin reduction.
- More formal code review.
Let me know if there are other top request I'm missing. Or if you want to upvote any of the requests above.
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It'll keep on going up after $100K, but it can't get infinitely big. Just as one upper bound on Bitcoin, the total size of all real assets in the world is less than one quadrillion dollars (to be specific, one million billion 2020 purchasing power dollars). This puts a crazy upper bound on the price of Bitcoin: $50MM. Likely, Bitcoin can't reach even 1/10th of that as a market cap ($100 trillion), as there is not that much demand for safe assets over all assets, so the highest possible price is likely $5MM per bitcoin.
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At this point, I'm not sure if having a hardware wallet actually reduces the risk of THEFT more, or makes it more likely you'll forget your OWN KEY.
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There is enough pie in the ecosystem for multiple entrants. Even if you're a new project like Solana, you don't need to kill Ethereum to do well. Likewise, Vitalik never wanted to see Bitcoin go down.
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Centeralized exchanges have been taken over by long onboarding processes. DEXes are still good for onboarding quickly.
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What about all the Uniswap clones coming out? Are those essentially scams? There's a ponzi-scheme like element where they're not doing anything new, and then just launch a governance token.
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Are there good layer 2 DEXes coming out? Paying $100 for a trade on Uniswap seems like an anatham to the point of DEXes -- to allow cheap exchanges to happen fast.
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How can we learn from these mistakes? What are the actionables for the future?
One actionable might be that if a project seems like it's very innovative, earnest, and incubating, to invest in it and keep on holding. Selling at false tops might be a mistake.
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There is also the open question of whether you could have known BTC would do so well beforehand.
At the start, it was just a side project worth only a few tens of thousands of dollars. An early 2010 user tried to sell 10,000 BTC for $50 and couldn't find any buyers!
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Good point on the oracle. Currently, it's a centralized oracle with an Augur-like fallback system (where users can challenge each other). Top priority for me is to add something like Chainlink into the system and ensure the data feed is good for years. There's also a global settlement mechanism where if say, the S&P 500 dissolves in the future, the vSPY tokens just settle at the last known good value.
If the oracle problem were solved, would you buy? What are top token's you've bought in the past & main reasons? I'm trying to collect some opinions to help me develop the next stage of this.
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I've been seeing lots of posts here and on twitter about altcoin season. But other than a backward-looking phrase (that's not useful for forward trades), what is alt season? Are there times when alts pump and, crucically, we can predict alts will pump even more? Or is it purely "hindsight is 20/20" way of looking coin prices?
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There are lots of serious ERC-20 tokens that are still doing pretty well. For example SNX is up a lot. You need the project to use the coin in a way that increases its price.
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Like the other posts have mentioned, if you can't hold, then you're a trader.
If you're a trader, you better have a strong quantitative background and have some computer programs that you write to help you predict the future. After all, that's who you're competitors are. If you don't have a financial background in quant trading, and you find yourself a trader, then you're in a losing position.
All that is to say is that unless you're a quant, you're better off holding versus optimizing like this.
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