0 sats \ 2 replies \ @ek 7 Oct 2022 \ parent \ on: Live graph of Ethereum regulatory capture bitcoin
MEV which simply said is the process of ordering your own transactions between organic ones in such a way that you arbitrage/profit from it.
Oh, wow, I heard first of MEV a long time ago but never looked into what it actually is.
This sounds exactly like "retail vs hedge funds" in tradfi (as you described with Robinhood and Citadel).
Yes, sounds very unethical, especially if it's done on a blockchain claiming to be the decentralized. They just enable the same stuff as before.
I have to look deeper into this, thanks for your explanation! You got me interested
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0 sats \ 1 reply \ @ek 7 Oct 2022
Now that I think more about it: Even the name "Robinhood" is similar and hilarious. It suggest to give power back to the people or to "rebel against tyranny" [1], but it's doing the exact opposite; exploiting retail even more.
[1]
In popular culture, the term "Robin Hood" is often used to describe a heroic outlaw or rebel against tyranny. -- https://en.m.wikipedia.org/wiki/Robin_Hood
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25 sats \ 0 replies \ @ln_cortado 7 Oct 2022
The rabbit hole goes deep :)
I was much into DeFi when I first heard about it - the theoretical idea is good but this current iteration is nothing close to it. It's re-designing centralized finance with a bit less obscurity but a lot more fake promises.
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