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The Augur market allows reporters three days to report, and the market officially ended just under 24 hours ago. CCN will post an update at that time, regardless of the outcome. If the results go the way the alleged reporter says they will, then we 90% of those who bet on the market will have lost their money, totaling around over 3/4s of a million dollars in cryptos.

Is this for real? This is the equivalent of asking on November 4 2016, "who will be President after the election?" and taking the money of anyone who guessed "Trump" or "Clinton" because Obama was still in office after the election and wouldn't hand over the office until 2017.

Why can't they just put an oracle in the blockchain to resolve all issues of fact?

Oh yeah, code is the law, trustworthy oracles and reputation systems.

Truly the future is here.

Lol, anyone want to guess what this guy's bet was?

I propositioned my waitress for 4$ tip in fiat, or double in bitcoin. I told her it is like being offered M$ stock in 1976.

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This is a great explainer. Essential if you don't have time to read the Sovereign Individual. Another example of the 'economics of violence' I like is how cheap hunting rifles reduced the power of knights on horses and lead to the reality of the idea that 'all men are equal.'

Here is the link to the original comment thread. Or you can comment here to start a discussion. Author: TheAlexGalaxy

Played this as a teenager. Man I am old. Had to do math to figure out how to aim.

That is a great example of how times have changed. Reading it bring back memories of the 70s, and how entrenched the hippie movement was with computers.

More info:

https://en.wikipedia.org/wiki/Spacewar_(video_game)

Rolling Stone Article from this year

I honestly don't understand why you're being downvoted. Maybe the title, idk. Or the conclusion, hehe. But the article is well written and talks a lot about what everyone should understand about btc and how the forks came about. Also, everyone is entitled of their opinion, even if they're "wrong". I enjoyed reading it. Thanks.

​

I do, however, disagree that big blocks are a problem.

​

In my view, I think people who see big blocks as a problem are mostly programmers who are used to the centralization paradigm to solve scalability issues. It is the most efficient way, there's no denying that, but "grouping" transactions is the opposite of what the blockchain is about, in my opinion. Also, there will be a point in time where the amount of transactions will plateau and the infrastructure of the network will be good enough to keep increasing block sizes as much as we want. There are some really good internet infrastructures out there already. Yes, this brings up other problems, like mining centralization, but that's just how nature works anyway... The strongest/most adapted always win. And, let's face it, core has done a great job proving that their solutions don't solve anything since it has failed to scale terribly and segwit is here for over an year now. They keep changing the narrative on why it hasn't worked yet ("this is just the beginning", "lightning is still new", "there will be segwit 2x", etc), but to me they just don't want to face the truth, they failed.

​

What I find funny is that even Andreas Ant. is a supporter of BTC afaik, and he says in one of his talks about "bitcoin failing to scale" that the internet worked the same way but the infrastructure kept evolving and the "old problems" got solved by that. Well, why change the code then? Why not just accept that the infrasctruture will match scalability in the future? Do we expect infrastructure to not get better now? Idk, I disagree tremendously.

Great article. Read it all.

Hence, all miners apart from the CoinGeek coalition have sided with the SV side of the fork.

Did you mean abc here?

Graphene, which further introduces centralization to the system

Can you elaborate further on this?

Tldr:

the community that buys into the narrative of bigger blocks tends to centralize around personalities rather than facts. Inevitably, when there is contention amongst these personalities, the hard-fork culture offers dissidents an easy way out; “just hard fork it.” This is the only death spiral that destroys value from sound money.

Tired small blocker arguments.

The Bitcoin experiment carries on (with big blocks on-chain scaling).

Here is the link to the original comment thread. Or you can comment here to start a discussion. Author: rain-is-wet

Ivan on tech is making his next show about it. There is a Soros portrait on the thumbnail

Standing ovation

After the whitepaper, this should be the second thing anyone in this space reads

Lol which crypto is pushing consensus changes in hotfixes?

Don't thow stones in a glass house

So we aren't giving the commit keys to 4chan ?

How can a github employee inject malicious code into the Bitcoin Core repo? Doing so would invalidate the merge commit signatures.

Developers review pull requests to ensure that they are not harmful. Anyone is free to review pull requests and provide feedback — there is no gatekeeper or entrance exam when it comes to contributing to Bitcoin Core. If a pull request gets to the point that there are no reasonable objections to it being merged, a maintainer makes the merge.

This is the crux of the matter. A pull request is not approved just because it is found to be 'not harmful'.

No reasonable objections from whom? Who decides what is reasonable?

This 'no gatekeeper' thing is a myth. There are a lot of very powerful gatekeepers. They just like to stay in the background.

you mean the wallet?

!lntip 10

Aren't all (or the majority) of maintainers (including lead maintainer) employed by one company?

5 maintainers who serve as final gatekeepers between pull request and merged code.

Can any single person of the 5 merge a pr? So if 4 don’t like it and one does, can he just shove the code in? Granted nodes still have a choice whether to download latest merged version. Just trying to understand the dynamics of 5 gatekeepers and what they can and cannot do.

Great article, thank you!

The same ones that always have: Pieter, Wladimir, and heavy influence from Gregory. The other contributors have minor influence, irrespective of their contributions. If you can't convince those guys, any noteworthy change to Bitcoin Core doesn't happen.

This is an amazing write-up!

I do!

Don't believe anything that Jameson Lopp writes.

During these bear markets, it’s always best to learn how this thing works under the hood and why it’s not going away any time soon. Great read!

Yepp. Such a great write up, thank you @lopp!

BTC is a disgusting centralised shitcoin based on false "store of value' narrative. What a joke.

Whoever controls the Github repo controls BTC.

BlockStream

https://youtu.be/IOjkkZ7xbss

Nice. Good article

So I told my mom that you don't need to trust anyone, as long as you have the skills to do so... What are the skills one should start at and how will I go about doing so? I want to learn as a hobby so I understand that it can take years but at least it's possible to learn right?

Is there a YouTube channel that breaks down line by line and also teaches noobs about this stuff?

Also thanks for posting/taking the time to write about this.

Do you mean the un-confiscatable, deee-centralized, iii-mutable (buzzword salad warning y'all) payment network is under someone's control? Are you telling me that if i had the killer bitcoin app, one that would bring another 10 million daily unconditional transactions to the network guaranteed and a potential number of daily transactions # in the billions (oh shi...blocksize) i'd have to go through 5 fucking random cunts to get it approved?

Here is the link to the original comment thread. Or you can comment here to start a discussion. Author: TheGreatMuffin

Legend.

... and will allow illicit and stolen materials to be traded. An anonymous computerized market will even make possible abhorrent markets for assassinations and extortion. Various criminal and foreign elements will be active users of CryptoNet.

Predicting the Dark Net and marketplaces like Silk Road

Sad. Strange that it did not get much median attention.

One of his final interviews here - https://www.youtube.com/watch?v=MrGLraSiRZk Brilliant mind and true freedom fighter

I don't think most modern-day Bitcoiners realize how powerful a force Tim May was in the financial cryptography / cypherpunk worlds. He inspired thousands with his vision of technology enabling freedom. No longer would you have to convince the masses that freedom is good--rather, just build freedom with technology.

Sad. May was interviewed by Coindesk a couple months ago and had some important things to say.

Enough with the ICO-Me-So-Horny-Get-Rich-Quick-Lambo Crypto

A specter is haunting the modern world, the specter of crypto anarchy.

Computer technology is on the verge of providing the ability for individuals and groups to communicate and interact with each other in a totally anonymous manner. Two persons may exchange messages, conduct business, and negotiate electronic contracts without ever knowing the True Name, or legal identity, of the other. Interactions over networks will be untraceable, via extensive re- routing of encrypted packets and tamper-proof boxes which implement cryptographic protocols with nearly perfect assurance against any tampering. Reputations will be of central importance, far more important in dealings than even the credit ratings of today. These developments will alter completely the nature of government regulation, the ability to tax and control economic interactions, the ability to keep information secret, and will even alter the nature of trust and reputation.

The technology for this revolution--and it surely will be both a social and economic revolution--has existed in theory for the past decade. The methods are based upon public-key encryption, zero-knowledge interactive proof systems, and various software protocols for interaction, authentication, and verification. The focus has until now been on academic conferences in Europe and the U.S., conferences monitored closely by the National Security Agency. But only recently have computer networks and personal computers attained sufficient speed to make the ideas practically realizable. And the next ten years will bring enough additional speed to make the ideas economically feasible and essentially unstoppable. High-speed networks, ISDN, tamper-proof boxes, smart cards, satellites, Ku-band transmitters, multi-MIPS personal computers, and encryption chips now under development will be some of the enabling technologies.

The State will of course try to slow or halt the spread of this technology, citing national security concerns, use of the technology by drug dealers and tax evaders, and fears of societal disintegration. Many of these concerns will be valid; crypto anarchy will allow national secrets to be trade freely and will allow illicit and stolen materials to be traded. An anonymous computerized market will even make possible abhorrent markets for assassinations and extortion. Various criminal and foreign elements will be active users of CryptoNet. But this will not halt the spread of crypto anarchy.

Just as the technology of printing altered and reduced the power of medieval guilds and the social power structure, so too will cryptologic methods fundamentally alter the nature of corporations and of government interference in economic transactions. Combined with emerging information markets, crypto anarchy will create a liquid market for any and all material which can be put into words and pictures. And just as a seemingly minor invention like barbed wire made possible the fencing-off of vast ranches and farms, thus altering forever the concepts of land and property rights in the frontier West, so too will the seemingly minor discovery out of an arcane branch of mathematics come to be the wire clippers which dismantle the barbed wire around intellectual property.

Arise, you have nothing to lose but your barbed wire fences!

​

-- Timothy C. May

what would cryptomonarchy look like tho

This is the kind of shit I’m in this subreddit for, thanks :)

/u/Anen-o-me, you might know what I'm trying to find. A year or two before the Silk Road bust, I read something pulled from the Silk Road forums there. It was a manifesto, or explanation of what DPR was trying to do there. Gave me the impression DPR was ancap (non-aggression principle etc) and worth supporting.

Do you have any idea where I can find that again? Been looking for it since the bust.

Here is the link to the original comment thread. Or you can comment here to start a discussion. Author: Anen-o-me

Apparently he wrote down the manifest of this cypherpunks meeting. Indeed it is visionary and he was obviously part of it but by no means this was only the vision of one person. Credits to all unknown people who also participated.

Wow. Just wow. Where is this man let me buy him a beer.

1988 :

• Parents using typewriter
• 7 years till Windows 95
• Men accurately describing internet 3.0

Sorry typo in the title “that* visionary”

First time I read it and it is mind blowing.

I'm glad this gets posted every few months. Let's me know I'm still in the right place :)

Moving forward, slowly but surely.

SFYL!

it was sad that Finney is dead. Now also May. But their work, texts and thoughts will live on!

https://archive.org/details/revhosatx36

The Crypto Anarchist Manifesto Timothy C. May @netcom.com">tcmay@netcom.com

A specter is haunting the modern world, the specter of crypto anarchy.

Computer technology is on the verge of providing the ability for individuals and groups to communicate and interact with each other in a totally anonymous manner. Two persons may exchange messages, conduct business, and negotiate electronic contracts without ever knowing the True Name, or legal identity, of the other. Interactions over networks will be untraceable, via extensive re- routing of encrypted packets and tamper-proof boxes which implement cryptographic protocols with nearly perfect assurance against any tampering. TOR network Reputations will be of central importance, far more important in dealings than even the credit ratings of today. These developments will alter completely the nature of government regulation, the ability to tax and control economic interactions, the ability to keep information secret Wikileaks, Snowden, Manning, and will even alter the nature of trust and reputation.

The technology for this revolution--and it surely will be both a social and economic revolution--has existed in theory for the past decade. The methods are based upon public-key encryption, zero-knowledge interactive proof systems, and various software protocols for interaction, authentication, and verification.SSL The focus has until now been on academic conferences in Europe and the U.S., conferences monitored closely by the National Security Agency. But only recently have computer networks and personal computers attained sufficient speed to make the ideas practically realizable. And the next ten years will bring enough additional speed to make the ideas economically feasible and essentially unstoppable. High-speed networks, ISDN, tamper-proof boxes, smart cards, satellites, Ku-band transmitters, multi-MIPS personal computers, and encryption chips now under development will be some of the enabling technologies.

The State will of course try to slow or halt the spread of this technology, citing national security concerns, FBI versus Appleuse of the technology by drug dealers and tax evaders, and fears of societal disintegration. Many of these concerns will be valid; crypto anarchy will allow national secrets to be trade freely and will allow illicit and stolen materials to be traded Dark net markets. An anonymous computerized market will even make possible abhorrent markets for assassinations and extortion. Various criminal and foreign elements will be active users of CryptoNet. But this will not halt the spread of crypto anarchy.

Just as the technology of printing altered and reduced the power of medieval guilds and the social power structure, so too will cryptologic methods fundamentally alter the nature of corporations and of government interference in economic transactions Cryto currency. Combined with emerging information markets, crypto anarchy will create a liquid market for any and all material which can be put into words and pictures. And just as a seemingly minor invention like barbed wire made possible the fencing-off of vast ranches and farms, thus altering forever the concepts of land and property rights in the frontier West, so too will the seemingly minor discovery out of an arcane branch of mathematics come to be the wire clippers which dismantle the barbed wire around intellectual property.

Arise, you have nothing to lose but your barbed wire fences!

While I don't agree with his conclusion, I am impressed with how well he predicted the uses and consequences of the technology back in 1992. I think this stuff all cuts both ways empowering individuals and also also state-sponsored intrusion, monitoring and abuses at unheard of levels. Anarchists both communist and capitalist are always naive about how people actually behave without an impartial 3rd party that can kick their ass for getting out of line.

I can't even find this dude's name on Google. Who fuck is this guy and doesn't this sub have anything better than to circle jerk about some rando dude dying?

McCallan 25 then.

The Crypto Anarchist Manifesto Timothy C. May @netcom.com">tcmay@netcom.com

A specter is haunting the modern world, the specter of crypto anarchy.

Computer technology is on the verge of providing the ability for individuals and groups to communicate
and interact with each other in a totally anonymous manner. Two persons may exchange messages, conduct 
business, and negotiate electronic contracts without ever knowing the True Name, or legal identity, of 
the other. Interactions over networks will be untraceable, via extensive re- routing of encrypted 
packets and tamper-proof boxes which implement cryptographic protocols with nearly perfect assurance 
against any tampering. Reputations will be of central importance, far more important in dealings than 
even the credit ratings of today. These developments will alter completely the nature of government 
regulation, the ability to tax and control economic interactions, the ability to keep information 
secret, and will even alter the nature of trust and reputation.

The technology for this revolution--and it surely will be both a social and economic revolution--has 
existed in theory for the past decade. The methods are based upon public-key encryption, zero-knowledge 
interactive proof systems, and various software protocols for interaction, authentication, and 
verification. The focus has until now been on academic conferences in Europe and the U.S., conferences 
monitored closely by the National Security Agency. But only recently have computer networks and personal
computers attained sufficient speed to make the ideas practically realizable. And the next ten years 
will bring enough additional speed to make the ideas economically feasible and essentially unstoppable. 
High-speed networks, ISDN, tamper-proof boxes, smart cards, satellites, Ku-band transmitters, 
multi-MIPS personal computers, and encryption chips now under development will be some of the enabling
technologies.

The State will of course try to slow or halt the spread of this technology, citing national security 
concerns, use of the technology by drug dealers and tax evaders, and fears of societal disintegration. 
Many of these concerns will be valid; crypto anarchy will allow national secrets to be trade freely and 
will allow illicit and stolen materials to be traded. An anonymous computerized market will even make 
possible abhorrent markets for assassinations and extortion. Various criminal and foreign elements will 
be active users of CryptoNet. But this will not halt the spread of crypto anarchy.

Just as the technology of printing altered and reduced the power of medieval guilds and the social power 
structure, so too will cryptologic methods fundamentally alter the nature of corporations and of government 
interference in economic transactions. Combined with emerging information markets, crypto anarchy will 
create a liquid market for any and all material which can be put into words and pictures. And just as a 
seemingly minor invention like barbed wire made possible the fencing-off of vast ranches and farms, thus 
altering forever the concepts of land and property rights in the frontier West, so too will the seemingly 
minor discovery out of an arcane branch of mathematics come to be the wire clippers which dismantle the 
barbed wire around intellectual property.

Arise, you have nothing to lose but your barbed wire fences!

-- 
..........................................................................
Timothy C. May         | Crypto Anarchy: encryption, digital money,  
tcmay@netcom.com       | anonymous networks, digital pseudonyms, zero
408-688-5409           | knowledge, reputations, information markets, 
W.A.S.T.E.: Aptos, CA  | black markets, collapse of governments.
Higher Power: 2^756839 | PGP Public Key: by arrangement.

🙏 I remember him and those days well. Haven’t thought about him in years. A toast to a Real Smart Guy.

Cypherpunks were high-tech version of anarchists: a bunch of sadly deluded grown-ups with good high-level intentions but with the social intelligence of four-year-olds. They dreamed of freedom and harmony and other nice things, but all they created was mass shootings, the opioid death epidemic, ransomware, the bitcoin investment scam -- and President Trump.

He was cool. He was never a bitcoiner. He had been openly sceptical about Bitcoin and ETH.

Didn't do cryoncs? Wtf kind of cyberpunk is he.

Sorry, this is just my opinion. I have no research to offer other than my short time following the community, my experiments with other investments, and my inumberable conversations about Bitcoin with skeptics.

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How long will the vote last for?

In times of growth; expected, realized or both, the currency should be lowered to artificially low levels to encourage borrowing, this is how the fed causes inflation.. which is what dai needs right now. Before the US market goes low, looks like we need an expansion of money supply.

How? In the decentralized way.. we spread dai to the masses.

I am a new poster to this website, but am a successful marketing entrepreneur for fortune 500 companies. I'm here because of this incredible economic system that we have the opportunity and responsibility to nurture and sacredly protect.

How do we expand our money supply gents?

We are living in the future. Just set up my account in order to vote on the 17th. It is beautiful having a say in what happens on this platform.

I'll be voting No.

This feels very inappropriately timed for (even feigned) distributed governance. Calling for a vote 3 days after the proposal is submitted and neglecting the 1-month 'protection mechanism' for some reason?

There is zero scientific basis provided for this change

It is not possible to accurately predict what interest rates should be at before the fact, especially not at the current low aggregate size of the system - changes can only be made gradually and refined based on real observations in the market.

Not up to the expected Maker Foundation form. :-(

I am all for decreasing the stability fee, though I do not think it will make much difference. It seems to me that the rise in the price of DAI alone would be more of an incentive to CDP creation. E.g. borrow 100 DAI with the value of $105 hoping the system corrects and you only have to pay back $100 worth or less of DAI. So maybe use the $105 worth of DAI to buy a leveraged short ETH position (like dydx) to balance potential losses of your locked CDP ETH, then wait for the price of DAI to drop below $1 to sell the leveraged position for DAI and maybe some ETH to pay off the CDP.

Sorry, anyone ELI5 this?

Why such a substantial change? Why not 2.5% to 1.5% for example?

Lol wut. Why did I think it was already 0.5%?

Do you think it will pass ?

Because this is a decrease, rather than an increase, there is no need for a 1 month warning period.

Why is this the case? It's phrased in a way that makes it seem like it should be intuitively obvious, but I can't puzzle it through.

What is the asymmetry between a decrease and an increase in stability fee?

Would this change be retroactive, affecting CDPs that have already been taken out?

What is Maker's risk team analysis of liquidity risk of this move? 1.5% of ETH supply is already locked in Maker's contract. The debt ceiling exists to protect against liquidity risk, but the current debt ceiling was set when ETH market cap was much higher. What percentage of ETH supply are you comfortable having in SCD under current liquidity conditions?

I strongly caution trying to keep interest rates artificially low in #Defi markets. To account for all the risk factors, rates of return need to be above risk- adjusted cost of capital, which is tricky to estimate. Interest rates in crypto should be closer to emerging market countries rather than LIBOR.

Returning the Maker stability fee to 0.5% makes me excited about Ethereum again.

​

To understand my point of view, you must accept the notion that in the right context, numbers have an aesthetic and psychological component, and that price is narrative.

While stable tokens are getting a lot of coverage, and while Dai is a true innovation, the CDP mechanism is the most transformative tool for wealth management that I've ever encountered. There are a lot of caveats, and difficult hurdles to clear in order to maximize ones appreciation of how CDPs work. The biggest hurdles are 1) belief in the underlying assets and 2) Acquiring the over-capitalization for your loan. But if you can satisfy those two conditions, then MakerDao will provide a pathway for your family, your institutions, and your businesses to route around the traditional banking system, save you untold sums in interest, and even preserve wealth between generations while still being able to put that wealth to work.

​

First, my use case.

​

This year I paid off a big chunk of my home mortgage with a CDP. My interest rate from the bank was 4%. But as we all know, 4% on a mortgage is not really 4% in the classical sense because you are paying 30 years of interest UP FRONT. This is the reason why I FUCKING HATE MORTGAGES. But I live in the rational universe and because I did not have enough cash to buy a house outright, I got a mortgage. Then CDPs went live last year, and I realized how lucky I was. I had a significant sum of ETH I could use as collateral. (This was, in a sense, my free pass over hurdle #2 above. Without winning the Eth lottery I would never have understood what Rune and the team have created.) I took as much Dai as I could safely borrow, converted it to dollars, and paid it to the bank as principle on my mortgage. In that transaction I traded bank debt at 4%, for CDP debt at 0.5%. Perhaps in a universe where people were seeing thousand percent gains, this did not seem like a sexy trade. But for the way I see wealth, this was a life changing transaction. It makes my heart race thinking about the implications.

​

This is where I will mix numbers with narrative. The narrative of MakerDao for me, is that with the right assets, and the right amount of starting capital, you can literally borrow from yourself. You even get to keep the assets you put up as collateral. As lender to yourself, you can pay off your loan as fast or slow as you like. You could even pass the debt on to your kids by handing them the keys to a CDP. I can definitely imagine some cases where I would advise this, because unlocking the underlying assets could represent a substantial gain. Regardless, the narrative of using your own wealth for leverage in a way that does not put your wealth in the hands of others has never been possible in the financial universe. Until CDPs. That is the narrative that makes me really excited about Maker.

​

When the stability fee went up to 2.5%, this all changed for me, because as I stated at the top, numbers have an aesthetic quality, and price is narrative. 2.5% is definitely a low rate, but 2.5% is still within the collective memory of what banks were offering after the sub-prime crisis. For anyone who shopped for a house between 2009 and 2012, you could get 2.5% from Any Bank, USA. 2.5% just doesn't tell the story that I want to tell for Maker, because when the rate gets above a certain threshold, I think the borrower has to wonder, "Someone out there is profiting from my interest...who is getting my 2.5%?" Whereas 0.5% just feels like a great deal, and one can easily write this off as a necessary fee you pay into the system to keep all the software running. As time goes on it I think rates in the 2.x% might become more and more attractive. From a narrative sense, as commercial rates rise, I do think there is room to raise the stability fee again and still maintain the Maker narrative. But for the moment, I think 0.5% fits much better into the psychology of a person who is trying to be their own bank, who does not want to feel as though there's any chance they are enriching someone else by borrowing from themselves.

​

CDP's at 2.5% feel like they are part of a financial services agreement. CDP's at 0.5% do not.

​

This bear market has been clarifying for me. I've had to be super hard nosed about what projects I believe in. What I came to in the last year is that I am only excited about Bitcoin and Maker. While I appreciate Ethereum, I can't quite get excited about it like I can about Maker. And by the way, this is how it was always supposed to be. It's as if a glimmer of Ethereum's original intent is now shining through, because ETH was never supposed to be money, or an asset unto itself. Ethereum is only a substrate. Without transformational projects like Maker, Ethereum is just potential.

​

A word on marketing. I've drifted deep into the Bitcoin Maximalists camp this year, and there is a growing awareness of "crypto loans" among some of the hardcore bitcoiners because BlockFi has engaged with that community. I think that what BlockFi is doing is cool, but Maker is much more interesting to me. I don't quite know how to do this, but I want people out there in the bitcoin world to understand the decentralized, "you control your own keys", advantages of MakerDao. If the stability fee goes back down to 0.5%, the message becomes a lot clearer in my mind. That's just an aesthetic judgement.

I am going to shameless place @caw34769/makerdao-governance-stability-fee-a-case-for-vir-variable-fee-rate-a9734e3e17a8">https://medium.com/@caw34769/makerdao-governance-stability-fee-a-case-for-vir-variable-fee-rate-a9734e3e17a8 , the case for VFR being a strong solution still applies in this scenario. Having a system wide static stability fee rate is quite simply incapable of having the flexibility to constantly adjust for swings in supply and demand (albeit it will work over extended periods of time, and is a solid solution, but isn't as optimized as it could be). There needs to be work towards a more permanent long term solution (which I understand that there is, but it probably should be communicated to the community better).

When I create dai my concern is less about the interest rate and more about how much I can afford ETH to decline before I get liquidated. I think lowering the collateral cushion would do more to support demand for dai but I understand that also creates risks for the platform. Also this is hard for me to wrap my head around because I don't understand why there is so much demand for DAI. And what is the demand that is driving the 7% interest on DAI at compound finance?

It’s mentioned multiple times that there is a high demand for DAI. What stat or reference gives us that reasoning? How do we know there is a high demand for DAI? I guess I assumed it would be the dai marketcap, but that seems to be going down (which makes me feel like there is less demand). Or is Compounds APR for lending the key stat?

While I agree with the rate reduction, I’m not optimistic that it will create a huge increase in supply. I think most CDP owners are locking up about as much as they are comfortable locking up with the way prices are tanking. I’m actually concerned now about whether or not we will be able to create enough supply to meet the demand. Right now, borrowing on Compound is shut down but it will be up again soon, maybe within a week. Just think about what the demand for Dai will be if the rate being paid for Dai goes back to double digits. I was getting paid close to 19% at one point. What is the plan for Dai if demand really surges during this brutal bear market?

Where does that number come from? What is the reasoning/calculation that leads to 0.5% and not other?

Question; why was it the risk team's recommendation to set it back to 0.5% compared to say a smaller decrease to 2% or 1% for example?

Are larger changes like this necessary at low supply levels? That's the sense I get. I figure with more participants it would make sense to make smaller adjustments?

NO