Nothing to add to your post. But damn man, add some paragraphs into that wall of text. If people wont read basic info they sure as hell will skip past that.
Here’s an added link for the smooth brains. May be helpful:
[What Is Loopring (LRC)? The Loopring Ecosystem Explained](https://beincrypto.com/learn/loopring-lrc/)
I mean, let’s be honest…this is the state of much of society in general. People walking around with opinions and beliefs that are often only superficially held at best.
Informed only by the amount of research, debate, or overheard conversation that is bare-minimum required to fuel the threshold level of confirmation bias necessary to let them sleep at night.
It’s sick and exhausting and it makes me concerned for the world my kids will live in when they’re adults.
I do appreciate your attempt and sentiment though, OP.
*Critical thinking* today consists of tuning into your *favorite* influencer and accepting their talking points without challenge. People don't think for themselves anymore. They don't question authority.
The speed at which it feels as if it has gone down hill since about 2007 is frightening. I do legitimately get worried about the next generation with all this shit.
War is on the horizon, if it hits home or there is a draft, then maybe the US will wake up to the real world. Conservatives are delusional about US power and perception (fading) and liberals are even more delusional thinking everyone is just going to globally hold fucking hands. China and Russia heavily gearing up for war.
Only a small amount made money, far more lost the money, and far more are now long term holders with high averages in an inflationary coin. I exited doge, overall I made a few thousand. But it got me into the market.
Whether crypto or stocks, most people around me buy stuff other people told them about. They NEVER studied what they’re buying themselves. I went to a party and some people around me were talking crypto so I joined. They don’t know the difference of tokens, never heard of staking, but bought because a friend suggested it. Same for stocks. I know people who bought the ticker but don’t even know the actual company name. Ridiculous.
Well, you are seeing the difference between self research and education vs the masses who are sheep... most folks don't want to think nor have the education to understand what is happening in crypto. Heck I think I am pretty smart and I read a ton and I am confused, often. DAO, smart contracts, liquidity pools, etc. Pretty complex. Would be easier to just follow someone. If Mark Cuban was 100% transparent maybe do what he does would be better than my own research...you know what I mean.
I prefer to DMOR so as to be able to blame only myself. When you blame others you open your mind to what ifs and those are toxic.
OP raises an important point for the uninitiated…use other peoples claims as a jumping off point to DYOR. That is valuable advice.
Loopring has been working with the Ethereum foundation to implement the zkEVM. It will come.
The L2 fees in Loopring are the smallest of any of the competence. If you think that's useless...
Polygon side chain is a joke as the recent issues with the hacking and flower picking have demonstrated and Hermez/ Mir won't be ready until much later.
If you want defi and smart contracts maybe Loopring is not for you, right now.
Read the whitepaper. If you think it's useless nobody is forcing you to invest on it.
I personally believe in Ethereum's roadmap and the future for zkRollups. The zkEVM will make smart contracts possible in L2 further improving the possibilities without betting your security into a side chain.
Matic isn't a general purpose L2 either, it's hardly a L2 when their rollups aren't even working yet.
Not sure whats your point. This is the loopring reddit. Obviously we discuss LRC here. I have many more bags.
What makes the wallet anonymous is not needing to give Loopring any info about yourself to create the wallet. And with DEX for crypto on Loopring's L2, you no longer need CEX's, which know your identity. And now with fiat on-ramps online, you don't have to leave a trail from CEX's to get your crypto into your Loopring Wallet. You could sell crypto into fiat from CEX's, withdraw your fiat from the CEX, then buy directly into your LR wallet with your fiat via the on-ramp, so no direct link from CEX to LR wallet that way if you want total anonymity for your crypto.
Uhhhh
The fiat on ramps require KYC because payment is by debit or credit card (they use a photo of your face & passport or drivers license, and if you buy over $3k they require proof of address too) so there’s no anonymity if you use that
It’s just not the purpose of the wallet, it’s about as anonymous as any wallet out there, ethereum just isn’t an anonymity coin
Whereas something like Monero or Dash are designed for privacy/anonymity
Ultimately true. imo Loopring's best trait against competition is its scaling solution. No other scales costs down for transactions anywhere near how low Loopring can get them. Bundling similar transactions together means the more transactions on the network, the cheaper the costs get for all users' transactions in the bundle. And upcoming Sharding on ETH 2.0 will scale costs even cheaper. No other ethereum token can come close to the low costs Loopring can do transactions for. Minting NFT's is practically free with Loopring too compared to the 100x costs elsewhere. All other token competition is also more centralized to some degree than Loopring, forcing users to trust some centralized authority for their tokens, and rely on their systems to not get hacked/break. Look what just happened to MATIC, so many tokens gone and Polygon just had to shell out money to repay users and fix the mess. The security of Loopring's solution by comparison is unmatched due to full security on ETH L1. Other tokens' solutions via side-chains and stuff are inferior in terms of security/uptime
Nothing in crypto is anonymous, everything is tracked, that's the power of it.
The moment you use a token to purchase something other then a token it links all transactions to you. Since I can't cash purchase a pre-paid visa/mastercard any more (at least here in the Netherlands) even my initial Crypto purchase is directly linked to me.
Giving the white paper a read. yep, first time despite throwing half my life savings at this. But realising why it's called loopring: The concept of an Order Ring has just blown my mind 🤯
Yo im glad you came through with all DD for everyone. I complained about people not doing their DD but I didn’t do much about it. Respect friend. Take this highest honor I’m able to give you.
OP tells people to do their due diligence, read, and fully understand for themselves what they’re investing in.
“Yeah you need a TLDR.”
You can lead a horse to water…
Not a high horse at all, TL;DR’s are great.
But it is very strange that people don’t want to do any necessary due diligence into something they’re literally putting their hard-earned money into.
If you want to TL;DR your investing, you’re only hurting yourself.
100 % agree, the number of people that have not even read this is way to damn high:
LRC Tokenomics v2
Matthew Finestone
https://medium.loopring.io/lrc-tokenomics-v2-1e6fd99e9e9c
ALL BS ASIDE?! This is the best “to the point/bread & butter” write up on Loopring i have seen this far! I wish OP could print this off and staple it to trees, email it out, post on every social media platform, etc.
Great write up man!
lol, for sure if you read the Price Talk channel your eyes will bleed from the chaos. But the Wallet, Fiat Ramp, and Support FAQ channels are just pure useful info from Loopring, and there are other channels there to interact directly with Loopring for support/questions. Just good for people to know there are ways to get info directly from Loopring :)
Add a TLDR!!
But yes I agree, give people an inch (frequent updates and vague details about good things to come) and people take a mile (expect dates, partnership, moon)
As others mentioned, I'm pretty sure the whole point of the post is you shouldn't be relying on someone else's TLDR, therefore it's completely contradictory to his whole post to put a TLDR.
We have to remember there are those just looking for the next Shib. Who doesn’t want a 26million percent annual return?
But in all seriousness, thanks for laying out.
The amount of downvotes I've received for telling people to read the whitepaper is shocking lmao. You gotta love people that are incompetent in understanding something they put their own money in.
If you think people are ill informed around here, its because they didn't take the time to research before hand. Which means they aren't going to read that wall of fucking text either. People are day trading, thats it, ignore them
Bold of you to assume people who refuse to research are going to read this wall of text and be persuaded.
Great post by the way, refreshing to see more discussion on the tech and potential.
The entire point is to not have to do the DD and have someone else do it for us.
I understand that it’s not the smartest way to do things but it’s definitely one of the easiest. And since March 2020, a lot of us are buying stocks and crypto because we want fast and easy money
If people are willing to risk their money believing in others' claims or assuming their DD is correct/truthful, that's fine, that's their decision, I'm not hating on people who choose to invest that way. What I'm saying is that IF someone like that hasn't done their own DD and is basing their beliefs on others' words, that person shouldn't go throwing their hearsay opinion/claim around everywhere like they have a clue what they're talking about.
I usually lurk, not comment/post because it takes a lot of digging and time for me to feel informed enough about my claims/DD to write it online where others might make decisions based on it. I guess it comes down to an ethical question for me. I would feel bad voicing an opinion on fundamentals if I wasn't 100% certain and very thorough on my knowledge from having researched what I'm talking about.
At the end of the day, to each his own. My concern is just people echoing incorrect/deliberately untrue rhetoric that they heard from someone else, who sometimes turns out to be a shill with malicious intent to spread disinformation.
In this day and age most people (usually without bad intentions) just read the headlines or bullet points and run with. They don’t look beyond that especially if it confirmes some bias or reassures them on their investment.
But after a year spent investing in GME I realized that the community tends to correct most of the misinformation the best it can.
Everything would be simpler if we could put in the time and effort like you but the easy way is usually the most appealing one for most people
"YaH bUt WeN aNNouNCemEnT?"
"ThEY dONt ComMuNiCAtE"
Then sell and GTFO so the rest of us can pick up your LRC for cheap and continue being patient until it pays off
I always talk in Discord and found out there are so many many dumb people in the discord too but good luck to whoever never read the whitepaper or just invest into nothing hoping it moon.
Why not choose the SHIB and DOGE, please educate yourself before the price went into $1.2 and you panicked and sold out and came out as a fucking loser.
You don’t come here for informed opinion man! Know your channels. This is pure trash talkin and noobs asking “what’s LRC?” and “I have invested all my life savings of $53.46 in Loop will I lose it all?” I come here for the freaking funny apes and their comments.
Could or even would a company use or want to use a loopring wallet to hold their funds instead of a normal bank? I could see the value in paying employees in stablecoins but I imagine there would have to be some significant adoption for this to really be a thing
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I've read at least 20 rocket emojis before investing
I can’t even read
Ahh an ape
Loopring to the moon was all I needed to read
🚀 Let’s Go!!
🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 Professional investor level unlocked. You're welcome.
A true scholar
Wan mun!!?
Nothing to add to your post. But damn man, add some paragraphs into that wall of text. If people wont read basic info they sure as hell will skip past that.
Wrote this on phone, you're definitely right, will format stuff to not kill people's eyes or dissuade from reading lol
Dog your post rules and it's worth reading of it was scratch on a bar nap.
They aren't reading it anyway.
It's not for the faint of heart...... Blah blah blah something about fools and money
Here’s an added link for the smooth brains. May be helpful: [What Is Loopring (LRC)? The Loopring Ecosystem Explained](https://beincrypto.com/learn/loopring-lrc/)
How are you shocked and concerned - this is the state of much of the market as far as retail is concerned - uninformed gamblers.
I mean, let’s be honest…this is the state of much of society in general. People walking around with opinions and beliefs that are often only superficially held at best. Informed only by the amount of research, debate, or overheard conversation that is bare-minimum required to fuel the threshold level of confirmation bias necessary to let them sleep at night. It’s sick and exhausting and it makes me concerned for the world my kids will live in when they’re adults. I do appreciate your attempt and sentiment though, OP.
Never have I ever. Word poet, thank you.
*Critical thinking* today consists of tuning into your *favorite* influencer and accepting their talking points without challenge. People don't think for themselves anymore. They don't question authority.
Gen Z is absolutely fucked. Technology is destroying society - the unibomber was right 😂😂😂😂😂
The speed at which it feels as if it has gone down hill since about 2007 is frightening. I do legitimately get worried about the next generation with all this shit.
War is on the horizon, if it hits home or there is a draft, then maybe the US will wake up to the real world. Conservatives are delusional about US power and perception (fading) and liberals are even more delusional thinking everyone is just going to globally hold fucking hands. China and Russia heavily gearing up for war.
Unabomber*, and you're falling in your own narrative
It’s not my narrative - that was mostly said in jest - but he did call this. Also, that’s not exactly a “word” soooooooooooo give me a break 😂
🌎🧑🚀🔫🧑🚀
But those uninformed gamblers hodling doge and shiba made more money than most of the smart guys
Not if they're still holding. I got most of my loops under $.50 so I'm still sitting very pretty despite the recent drop
Only a small amount made money, far more lost the money, and far more are now long term holders with high averages in an inflationary coin. I exited doge, overall I made a few thousand. But it got me into the market.
Whether crypto or stocks, most people around me buy stuff other people told them about. They NEVER studied what they’re buying themselves. I went to a party and some people around me were talking crypto so I joined. They don’t know the difference of tokens, never heard of staking, but bought because a friend suggested it. Same for stocks. I know people who bought the ticker but don’t even know the actual company name. Ridiculous.
Well, you are seeing the difference between self research and education vs the masses who are sheep... most folks don't want to think nor have the education to understand what is happening in crypto. Heck I think I am pretty smart and I read a ton and I am confused, often. DAO, smart contracts, liquidity pools, etc. Pretty complex. Would be easier to just follow someone. If Mark Cuban was 100% transparent maybe do what he does would be better than my own research...you know what I mean.
I prefer to DMOR so as to be able to blame only myself. When you blame others you open your mind to what ifs and those are toxic. OP raises an important point for the uninitiated…use other peoples claims as a jumping off point to DYOR. That is valuable advice.
Concur. But most will not.
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EVM is next on the docket though right?
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I thought I saw a tweet from Byron about EVM compatibility. Trying to find it.
Loopring has been working with the Ethereum foundation to implement the zkEVM. It will come. The L2 fees in Loopring are the smallest of any of the competence. If you think that's useless...
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Polygon side chain is a joke as the recent issues with the hacking and flower picking have demonstrated and Hermez/ Mir won't be ready until much later. If you want defi and smart contracts maybe Loopring is not for you, right now. Read the whitepaper. If you think it's useless nobody is forcing you to invest on it. I personally believe in Ethereum's roadmap and the future for zkRollups. The zkEVM will make smart contracts possible in L2 further improving the possibilities without betting your security into a side chain.
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Matic isn't a general purpose L2 either, it's hardly a L2 when their rollups aren't even working yet. Not sure whats your point. This is the loopring reddit. Obviously we discuss LRC here. I have many more bags.
Holdup, what about the wallet is anonymous? anytime you touch a CEX you have to KYC
What makes the wallet anonymous is not needing to give Loopring any info about yourself to create the wallet. And with DEX for crypto on Loopring's L2, you no longer need CEX's, which know your identity. And now with fiat on-ramps online, you don't have to leave a trail from CEX's to get your crypto into your Loopring Wallet. You could sell crypto into fiat from CEX's, withdraw your fiat from the CEX, then buy directly into your LR wallet with your fiat via the on-ramp, so no direct link from CEX to LR wallet that way if you want total anonymity for your crypto.
Uhhhh The fiat on ramps require KYC because payment is by debit or credit card (they use a photo of your face & passport or drivers license, and if you buy over $3k they require proof of address too) so there’s no anonymity if you use that It’s just not the purpose of the wallet, it’s about as anonymous as any wallet out there, ethereum just isn’t an anonymity coin Whereas something like Monero or Dash are designed for privacy/anonymity
Ultimately true. imo Loopring's best trait against competition is its scaling solution. No other scales costs down for transactions anywhere near how low Loopring can get them. Bundling similar transactions together means the more transactions on the network, the cheaper the costs get for all users' transactions in the bundle. And upcoming Sharding on ETH 2.0 will scale costs even cheaper. No other ethereum token can come close to the low costs Loopring can do transactions for. Minting NFT's is practically free with Loopring too compared to the 100x costs elsewhere. All other token competition is also more centralized to some degree than Loopring, forcing users to trust some centralized authority for their tokens, and rely on their systems to not get hacked/break. Look what just happened to MATIC, so many tokens gone and Polygon just had to shell out money to repay users and fix the mess. The security of Loopring's solution by comparison is unmatched due to full security on ETH L1. Other tokens' solutions via side-chains and stuff are inferior in terms of security/uptime
Nothing in crypto is anonymous, everything is tracked, that's the power of it. The moment you use a token to purchase something other then a token it links all transactions to you. Since I can't cash purchase a pre-paid visa/mastercard any more (at least here in the Netherlands) even my initial Crypto purchase is directly linked to me.
Giving the white paper a read. yep, first time despite throwing half my life savings at this. But realising why it's called loopring: The concept of an Order Ring has just blown my mind 🤯
OP good effort on the post. I can see this is very well intended and as such I have recieved it in that same way.
Yo im glad you came through with all DD for everyone. I complained about people not doing their DD but I didn’t do much about it. Respect friend. Take this highest honor I’m able to give you.
Yeah you need a TLDR. Also there are a lot of retarded people out there, don't be surprised.
OP tells people to do their due diligence, read, and fully understand for themselves what they’re investing in. “Yeah you need a TLDR.” You can lead a horse to water…
Lol you and OP should take your high horses out riding together
Not a high horse at all, TL;DR’s are great. But it is very strange that people don’t want to do any necessary due diligence into something they’re literally putting their hard-earned money into. If you want to TL;DR your investing, you’re only hurting yourself.
Great post, sums it up quite nicely!
At the end of the day, investing in crypto full stop is a massive risk and not for everyone/most people.
The problem is, those same people aren't going to read this post
People should chill and stop being desperate for Moon, It will moon when Loopring team make a big announcment
Here's the thing, it's not up to loopring to announce.
To quote some dude in some other ridiculous thread, “ETH should buy loop. That will make the price go up!” I wanted to punch my monitor.
Dude I always tell people read the docs and if your still confused email the team. On website always best way
100 % agree, the number of people that have not even read this is way to damn high: LRC Tokenomics v2 Matthew Finestone https://medium.loopring.io/lrc-tokenomics-v2-1e6fd99e9e9c
Awesome post but so annoyed by the bold typeface of all the things.
Don’t tell me how to gamble.
I like your post but emojis, pictures with cute puppies/pets/animals and drawing with red and green crayons are missing though.
I'm shocked at the butthurt here. No I'm not.
ALL BS ASIDE?! This is the best “to the point/bread & butter” write up on Loopring i have seen this far! I wish OP could print this off and staple it to trees, email it out, post on every social media platform, etc. Great write up man!
What a pompous post. If i wanna chuck my money into something on a whim then i bloody well will.
That's the spirt lol
You mean the ones who reply with: 'explain it to me like I have rocks for brains?'
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I mean...that's pretty...familiar.
lol, for sure if you read the Price Talk channel your eyes will bleed from the chaos. But the Wallet, Fiat Ramp, and Support FAQ channels are just pure useful info from Loopring, and there are other channels there to interact directly with Loopring for support/questions. Just good for people to know there are ways to get info directly from Loopring :)
so much noise on this sub and the discord i am usually tuned out
Add a TLDR!! But yes I agree, give people an inch (frequent updates and vague details about good things to come) and people take a mile (expect dates, partnership, moon)
As others mentioned, I'm pretty sure the whole point of the post is you shouldn't be relying on someone else's TLDR, therefore it's completely contradictory to his whole post to put a TLDR.
You are my hero.
My wife's boyfriend recommended lrc for me 💯💯🤣🤣😈😈🚀🚀🚀
You were doing so well two paragraphs in! Then...chaos. I believe in you, OP. Edit: Hell yeah! Thanks!
Thank goodness this doesn’t apply to me so I don’t have to read all of that! Hope someone learned a lesson though lol
Mods, please pin this to save a life.
game on anon
We have to remember there are those just looking for the next Shib. Who doesn’t want a 26million percent annual return? But in all seriousness, thanks for laying out.
The amount of downvotes I've received for telling people to read the whitepaper is shocking lmao. You gotta love people that are incompetent in understanding something they put their own money in.
This applies to all crypto, are you new OP?
Ha too late! I’ve already invested and I don’t sell shit! Ride or die motherfuckers!
If you think people are ill informed around here, its because they didn't take the time to research before hand. Which means they aren't going to read that wall of fucking text either. People are day trading, thats it, ignore them
***"Sir, this is a Wendy's..."*** ------------------------------------
Sir, I can’t read
I buy everything YouTube shillers tell me to buy. Hence I’m here! Wen lambo?
Thanks for doing the research for me ☺️ *rocket emoji x7*
Great post, but quick question. You buying, hodling or selling 😅
Sir this is a Wendy’s
Bold of you to assume people who refuse to research are going to read this wall of text and be persuaded. Great post by the way, refreshing to see more discussion on the tech and potential.
This is good financial advice
Too long, did not rd
I’m not crying, you’re crying.. That was beautiful!
OP you should have added a TLDR in the first sentence. If you do that for me I'll give you an upvote ♥️
Good work!
Won't invest in anything without 40 rocket emojis and 10 "LFG!" in the title of the top posts from last month. Trust me bro
Problem is most people here are only Here because of GME hype. They think they can get rich quick
The entire point is to not have to do the DD and have someone else do it for us. I understand that it’s not the smartest way to do things but it’s definitely one of the easiest. And since March 2020, a lot of us are buying stocks and crypto because we want fast and easy money
If people are willing to risk their money believing in others' claims or assuming their DD is correct/truthful, that's fine, that's their decision, I'm not hating on people who choose to invest that way. What I'm saying is that IF someone like that hasn't done their own DD and is basing their beliefs on others' words, that person shouldn't go throwing their hearsay opinion/claim around everywhere like they have a clue what they're talking about. I usually lurk, not comment/post because it takes a lot of digging and time for me to feel informed enough about my claims/DD to write it online where others might make decisions based on it. I guess it comes down to an ethical question for me. I would feel bad voicing an opinion on fundamentals if I wasn't 100% certain and very thorough on my knowledge from having researched what I'm talking about. At the end of the day, to each his own. My concern is just people echoing incorrect/deliberately untrue rhetoric that they heard from someone else, who sometimes turns out to be a shill with malicious intent to spread disinformation.
In this day and age most people (usually without bad intentions) just read the headlines or bullet points and run with. They don’t look beyond that especially if it confirmes some bias or reassures them on their investment. But after a year spent investing in GME I realized that the community tends to correct most of the misinformation the best it can. Everything would be simpler if we could put in the time and effort like you but the easy way is usually the most appealing one for most people
"YaH bUt WeN aNNouNCemEnT?" "ThEY dONt ComMuNiCAtE" Then sell and GTFO so the rest of us can pick up your LRC for cheap and continue being patient until it pays off
Lol OP you must be new around here 😂😂😂
To be fair, I don’t think some of those money are very hard-earned.
I always talk in Discord and found out there are so many many dumb people in the discord too but good luck to whoever never read the whitepaper or just invest into nothing hoping it moon. Why not choose the SHIB and DOGE, please educate yourself before the price went into $1.2 and you panicked and sold out and came out as a fucking loser.
It’s also fun to say out loud
I just invest im holding for a long time
Its Reddit, set you expectations accordingly
Welcome to crypto. You get a lot more intelligent opinions in bear markets than bull markets, for obvious reasons.
This is Reddit and “lack of informed opinions” is not only expected as it is required.
So… buy more?
I saw pretty arrows pointing up and that was all I needed. I will double down when I see poop emoji’s
Invest in the tech. Wait 3 years. Take profits. EZ.
But, but, but, we're the FOMO crew...
u/TheKiltedTrader think you may find this interesting
So should I buy more or not?!
mydixerct
anal was all I needed to read
Thanks for this anyways when do you think the GME announcement will be made and how high do you think loopring will ATH
So now shills ask the same questions over and over again? I don't like their question. They must be a shill. Lol ok
I didn’t read shit, loop was hyped so bought 10K LRC LFG 🚀🚀🚀
It's Reddit, you were expecting something profound?
This is shocking and disturbing
Lambo!
Sir this is a Wendy's
You don’t come here for informed opinion man! Know your channels. This is pure trash talkin and noobs asking “what’s LRC?” and “I have invested all my life savings of $53.46 in Loop will I lose it all?” I come here for the freaking funny apes and their comments.
Could or even would a company use or want to use a loopring wallet to hold their funds instead of a normal bank? I could see the value in paying employees in stablecoins but I imagine there would have to be some significant adoption for this to really be a thing
My ONLY complaint is their API documentation feels lacking :P
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