Ilia Name and picture from twetch — not on-chain. The signature is; the profile is not.

/pay @25732 $10

/pay @25732 $10

Twetch is broken. Top hour-week are all shitcoins airdrops; top month - giveaways🙈

https://twetch.app/t/64742357e11f8c7ba3182b02fc8cf6bfc95dbd8f9cfff317c8557526f65165f2

Lol, Frog😅

Yep 😊

Re global state - there are certain limitations (well known in computer science under the term "eventually consistent state"), and I believe such tech will land on BSV this year (hint: I'm building the one 🙃)

ETH can't scale - simply because of the account-baded architecture instead of UTXO and shared global state. Sharding is bs.
More precisely ETH would never be able to outperform a relational DBs that also can be (and are) sharded (e.g. Visa, banks)

The contracts on BSV can be composable too. All interactions with contracts will be on-chain, so there is no problem of locking liquidity in one app. Off-chain is only a contract business logic - purely scalability reason - shared state is not scalable L1

Thats the point. Order matching is not possible in Bitcoin L1. Thus it will be an off-chain/L2 centralized app doing order-matching.
Then why people will opt for using decentralized order matching vs. off-chain centralized if both are non-custodial?

Lots of existing de-fi solutions on eth are centralized non-custodial. USDC is one of the examples. It's just that there are some (like uniswap) that are decentralized completely.

Well, I can imagine a DEX built on BSV, where the orders are utxos locked with scrypt contracts, and the centralized off-chain order matching engine combines utxos into the swap transactions. It is non-custodial - exchange operator can't touch funds.

But besides the argument "crypto market likes code-is-law-de-fi", what are the actual benefits/value propositions of the decentralization (over simpy "non-custodial centralized institutions")?

Again, the market values the odds of future financial system being "code-is-law" as 300:1. Ok. It's just that I with my 12 years in IT don't want to live in the society where "code is law"😅

Every software have bugs. In case of non-upgradeable de-fi contracts these bugs are essentially "statements of the law". Imagine handing over a legal title of your house to some guy in the internet who found an exploitable crazy statement in the law.

Disclaimer: these considerations are not counting the fact that "the market" is currently valuing odds for complete anarchy financial system as roughly about 300:1 😂

Regulation is not only about rent seeking (although it is all about seeking the rent now - but will be fixed by Bitcoin). In the ideal world regulation will only be about protection of rights. In anarchy world nobody have any rights 😀

Uniswap, and all the rest liquidity pools with non-upgradeable smart contacts are edge cases, legally now only possible for tokens/coins backed by nothing. If this concept is ever applied to the rest of the finance it will mean complete anarchy.

/pay @25732 $5

As a rough big picture - automated offer-agreement for nft placement (also covering lifecycle and interactions with these nfts). With the set of rules and audit trail on BSV ledger.
Each nft is a kind of contract as well😀

There is no such thing as "decentralized" in finance. Legally impossible.
Non-custodial != decentralized.
In contrary "centralized non-custodial financial institutions" can be certainly built on BSV.

Most people don't realize that Twetch itself is also a smart contract