How do people in other countries besides the USA understand the exchange rate / value of bitcoin? Is btc valued in their home currency or do they have to do it in US dollars, then calculate the value?
This is interesting.
The Ethereum Food Chain, Whoβs Allowed to Eat?
If extracting value from open systems is a crime, what do we make of the rest of the MEV economy? Every day, bots front run retail traders. According to EigenPhi, in the last 30 days on Ethereum alone:
Over 70,000 sandwich attacks targeted more than 30,000 victims.
More than $8 million USD was used to extract approximately $1.4 million USD in profits from unsuspecting DeFi users.
One could argue the MEV Brothers were the only real good actors in this story. Their actions made the market fairer through deterrence, effectively protecting users.