Fiat grifters already own all the assets because they run the money printer. Tokenization is trivial for them. Tether is literally the most profitable company per employee and blackrock wants to compete on that front by tokenizing the Amazon.

Bitcoin doesn’t kill their scam, it just enables Bitcoin holders to store value in a way that is protected from their scam.

Yeah scammers gonna scam unfortunately

And commodity conglomerates gonna cartelize unfortunately

Haha thanks for the feedback as well. That’s our MVP that we built a few months back. We’re building a proper event derivatives platform with DLCs for bigger bets over longer timeframes for pools like Ocean, Demand, and other small PPLNS pools (1 difficulty epoch timeframe or longer). Lightning just wasn’t good enough to do betting/hedging for large amounts with so many payment pathfinding issues. Plus we didn’t like the custodial aspect of it too much, would much rather do non-custodial betting/hedging so there’s less risk.

If aggregating hashrate is the only way miners and pools can reduce variance, then why do we act surprised when miners and pools mine for each other to reduce their variance?

Miners hate variance so they mine for pools.

Pools hate variance so they mine for each other.

Everyone hates variance and they wanna reduce it, but the only way they can is by passing the hot potato hashrate to a bigger balance sheet who is willing to take on the risk…

Yeah but if we’re not careful hashrate is gonna end up the same way… Mining is already centralized around the central banker fiat money printer. Miners have already kissed the ring of fiat money and pools are mining for each other so it’s not like that much better in terms of centralization for PoW…

Literally all it takes is gun to the pool operator head and enforcement of compliant blocks by intel agencies is accomplished (re: feather fork and Carol House). I bet they’re just waiting for hashrate to consolidate a little more and then they’ll strike.

It’s not if but when. Eth has no chance ofc but Bitcoin is honestly not doing too much better… Bitcoiners patting themselves on the back before actually fighting the battle…

Hedging hashrate enables miners and pools to reduce their variance while maintaining ownership over their hashrate and block templates.

Currently the only mechanism to reduce variance is hashrate aggregation into pools. Variance based pooling pressure incentivises mining pool centralization.

Hedging hashrate enables a sustainable decentralization of hashrate. The DLCs can be structured to incentivise pools to maintain lower global hashrate because a smaller probability pool yields a higher variance reduction.

How's a miner gonna reduce variance? Obviously mine for a pool.

How's a (FPPS) pool gonna reduce its variance? Obviously mine for (another) pool.

If variance reduction can only be accomplished by hashrate aggregation, why are we wondering why hashrate is so centralized?

Pools mining for each other (as proxy pools) is an alternative strategy to de-risk variance.

A portion of the pool's hashrate is forwarded to another pool, thereby de-risking the payout of that portion of the hashrate.

Proxying reduces variance at the cost of sovereignty.

Hashrate centralization via proxy pools points towards one thing and one thing only: miners and pools hate variance.

Miners want to avoid block reward variance so badly only a select few solo mine.

Pools want to avoid block reward variance so badly they mine for each other.

🪹

Many small mining pools

Many independent mining pools

Many PPLNS pools

Many StratumV2 pools

This is the way

🔮

What is the price of freedom?

Just deleted X from my phone

🎑🔮🪷🐸

Prediction markets on elections or sports are fiat misdirections of attention and liquidity. The significance of one puppet or another as president of the USA is about as significant as the outcome of a sports match.

If prediction markets are going to be tools to forecast the future, then the questions themselves must be focused on the potential outcomes of significant events. Crowdsourcing the questions and enabling anyone to ask is just as important as the ability for anyone to participate by betting.

Might this where nostr can play a critical role? Censorship resistance enables people to ask (and answer) important questions that fiat mechanisms might try to censor. Enabling anybody to ask questions (by providing liquidity for shares via a LMSR AMM, could be secured over DLCs) and incentivising anyone to answer (by enabling anyone to place a bet) could facilitate a decentralised and censorship resistant forecasting mechanism.

I want to zap the message in the zap we need to be able to do this

Start with group theory/abstract algebra, and from there learn some cryptography basics