hmmm. this seems wildly unneccessary. derivatives are complicated finacial products, why do they need to be introduced into an ecosystsm that is complex by itself. also, on mobile (presumably also on the web) it just says derivatives built on ethereum and a link to the white paper. no idea what this does/use case. might be wise to put up a but more info.
Maybe you're being downvoted for your blunt pessimism, but I think this is the most likely endgame. Complicated old ideas on complicated new technology by untrusted and unknown entities. What could go wrong?
> a link to the white paper. no idea what this does/use case
From the white paper:
"Velocity is an automated system for hedging risk on asset prices. It allows anyone to establish
and participate in a marketplace on publicly accessible price feeds. The platform enables
hedgers and speculators to take part in a market that reduces the threat of systemic risk."
Hedging against exposure to fluctuations in asset prices is very useful and necessary to many businesses.
right. not to be unkind but i follow ethereum and i dont have time to read every whitepaper that comes out. unless there is a good website that explains how and why, it doesn't matter what the technical details are. i skimmed the whitepaper before i even posted, its just that when twitter/facebook ect launched or even simple bank or wealth front for something fintech they weren't:
* send text to internet, read whitepaper.
* banking, read the whitepaper
* easier investing, wp
they explained what they did, which was not only obvious because they were way more traditional, but neccessary.
so i don't care about another derivatives play in the space that didn't put a what we do section in
edit: if i have to read your whitepaper to figure out why i would use your product you lost. every blockchain company releases a whitepaper, but they need to build community and security. id think it was astroturfing/sabotage if not for the 1990s
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[ 4.5 ms ] story [ 35.0 ms ] threadhttp://velocity.technology/doc/velocity_whitepaper.pdf
1. How do we know the pricing feed is not tampered with. If Bitstamp takes a huge position in this market they can make it so that they win.
2. The 'trusted oracle' velocity can also take positions if it sees a whale opportunity and steal funds.
As an aside if you have a trusted oracle then there's no need to use ethereum. You can implement all of this on the Bitcoin blockchain.
From the white paper:
"Velocity is an automated system for hedging risk on asset prices. It allows anyone to establish and participate in a marketplace on publicly accessible price feeds. The platform enables hedgers and speculators to take part in a market that reduces the threat of systemic risk."
Hedging against exposure to fluctuations in asset prices is very useful and necessary to many businesses.
* send text to internet, read whitepaper.
* banking, read the whitepaper
* easier investing, wp
they explained what they did, which was not only obvious because they were way more traditional, but neccessary.
so i don't care about another derivatives play in the space that didn't put a what we do section in
edit: if i have to read your whitepaper to figure out why i would use your product you lost. every blockchain company releases a whitepaper, but they need to build community and security. id think it was astroturfing/sabotage if not for the 1990s