Daily reminder that if you believe in Ethereum, you should learn about Makerdao and Dai.
It is the killer app for Ethereum. A decentralized stable coin.
>LONG ETH with ETH
>Use ETH to create stable coin DAI
>Buy more ETH with the new DAI
>No more using shitty bitmexico exchange for leveraging
>Install metamask on your browser
>cdp.makerdao.com
>youtube.com
Based Maker DAO poster.
>>LONG ETH with ETH
why would i do this
>>Use ETH to create stable coin DAI
why
>>Buy more ETH with the new DAI
again, why
>>No more using shitty bitmexico exchange for leveraging
this is a problem with exchange support, i trust the centralized binance, so again why do i care
>>Install metamask on your browser
no
Maker is the real crypto savior
>long eth with eth
why would i long a 72m premined nocapped forked off scam? eth isnt decentralized or secure, so maker is useless.
To redeem your ETH I imagine you need to buy more ETH and trade it for DAI before you can close your CDP?
if you have to ask why then you're too dumb to understand the power of decentralized finance.
so whats the ROI on this shit
>72m premine
why does that matter
>btc currently has over 10 million supply
is that a premine?
i cant buy it for $0.10 any more, so yes?
it was mined before I posted this.
not an argument
so this is just decentralized way to go margin (long) on eth
you don't gain any eth/dai directly (infact theres a 1% annual fee)
you can gain plenty of profit indirectly tho:
-use borrowed dai to buy more eth (go long / risky)
-use borrowed dai to loan on other dapps (much less risky, compound.finance gives around 4% roi on dai)
*ammendment to this, if you buy MKR implicitly get the fees from other CDP's so on paper the roi is 1% (but adoption of MKR increases its price more)
retard
WHY IS NOT ON BINANCE?
holy fuck are you retarded? google what premined means you brainlet
this. binance supports tether, pax and usdc but not DAI. wtf lmao
How do I pay off a CDP? So I lock in 3 ETH @ $300 and ETH rises to $600. Then I take my 900 DAI and a fee in $MKR and get back 3 ETH?
please explain for a 12yo brainlet with nice tits.
What if the dollar hyperinflates? I got into crypto to avoid that shit and now everyone’s trying to make crypto follow the value of the dollar. Fuck me
"hey look, there's a magic money machine via smart contracts"
>yeahright.jpg
if something sounds too good to be true, it is.
An actual retard. Why? What are you, a child? Don't spoonfeed this idiot
I literally don't understand any of this shit.
its very stupid. More stupid than using leverage on Bitfinex. When you use leverage on Finex, only the exchange can see your stops. When you use Dai leverage, the entire ETH ecosystem can see your position, and they know at what ETH price your position will get stopped out. Then whales can manipulate prices until you get excercised, and boom, you just traded your ETH for dai, a piece of shit "stable" coin that is worthless.
DeFi is pretty dumb desu. Smart Contracts are cool, but it's very stupid to publically broadcast to everyone your positions. This is why hedge funds etc are so secretive about their portfolios...
Thank God I'm an idiot then.
yes, whales will dump millions of $ worth of ether to liquidate your 12 eth position. are you for real? this is only a concern for people with so much money they don't hang on this board
that is correct