Free? Why doesn't Apple get to take a cut of Coinbase fees?
Coinbase hits number 30 in the top free apps on Apple's mobile store
71–80 of 97 posts
Re: Coinbase hits number 30 in the top free apps on Apple's mobile store
#72All the effort Apple goes to to maintain their walled garden, and yet they let such blatant ponzi scheme scams as crypto currencies in. What is going on in there?
does gold qualify as a ponzi scheme? Tesla stock? Google stock? 2000s dotcom stocks?
There is a difference between overbought assets and scams, and it usually goes along the line of, the easier it is for a small group of people to walk away with all the winnings the more likely we are to call it a scam.
Cryptoassets are a suitable vehicle for scams just as bits of paper with holograms on it or devices with touch screens can be - all it takes is a suspension of disbelief and caution which we also see with overbought assets. And there's a fair share of altcoins and ICOs that look quite scammy to educated people, while BTC/ETH/LTC and some others have survived a decade of people trying to poke holes into them.
Re: Coinbase hits number 30 in the top free apps on Apple's mobile store
#73The pandemic is speeding up change in the world. The transition to crypto currencies is happening faster than ever. Lots of people who are resistant to change are going to miss the boat and are going to be stuck holding the anchor that is the massive over leveraged debt in the fiat currency world.
Except that Tether is far worse than anything that exists in the fiat world, and crypto has thus far not been used for anything other than a distributed pump and dump that can't be shutdown or delisted.
Re: Coinbase hits number 30 in the top free apps on Apple's mobile store
#74Earlier quoted context omitted.
> The transition to crypto currencies is happening faster than ever Except I have yet to see any convincing indicators that crypto currency is actually being used for day to day transactions. Everything I see suggests people are hoping it's the next gold rush and they'll strike it rich based on timing alone. (Which is not to say I don't sometimes think about how back in 2011 I toyed with the idea of buying 1000 bitco…
How did people buy bitcoins back in 2011? Did you have to send a check to the seller?
MtGox and BitStamp were the two biggest exchanges back then.
Re: Coinbase hits number 30 in the top free apps on Apple's mobile store
#75Free? Why doesn't Apple get to take a cut of Coinbase fees?
same reason apple doesn't take a cut when you buy a jar of peanut butter using the amazon app, or get a ride using lyft.
Re: Coinbase hits number 30 in the top free apps on Apple's mobile store
#76Earlier quoted context omitted.
> The transition to crypto currencies is happening faster than ever Except I have yet to see any convincing indicators that crypto currency is actually being used for day to day transactions. Everything I see suggests people are hoping it's the next gold rush and they'll strike it rich based on timing alone. (Which is not to say I don't sometimes think about how back in 2011 I toyed with the idea of buying 1000 bitco…
How did people buy bitcoins back in 2011? Did you have to send a check to the seller?
paypal worked, as long as you had a reputation (and therefore wouldn't chargeback).
Re: Coinbase hits number 30 in the top free apps on Apple's mobile store
#77Earlier quoted context omitted.
Then you must really hate the US Dollar!
Nobody lost their fortune just by keeping dollars in an account. Most people who invested in altcoins have.
Tons of people have lost their fortune by keeping it in an "account." Banks have gone under, investments collapse or are scams (eg Bernie Madoff), etc.
Re: Coinbase hits number 30 in the top free apps on Apple's mobile store
#78Free? Why doesn't Apple get to take a cut of Coinbase fees?
Apple should get a cut of every check deposited through the Chase mobile app.
Re: Coinbase hits number 30 in the top free apps on Apple's mobile store
#79Earlier quoted context omitted.
I'd like to know more about this. I always equated printing money to inflation. Why isn't this the case? Can you point me to some good books for the same? Thanks!
The value of the dollar in terms of a constant basket of goods is a function of both supply and of "velocity." Money is only worth something if it changes hands. Let's say the Fed prints 1 quintillion dollars, and then gives it to me. I then put it under my very big mattress. I will never spend a single one of those dollars. Has this quintillion dollar print changed the value of the dollars that are actually changing…
>Let's say the Fed prints 1 quintillion dollars, and then gives it to me. I then put it under my very big mattress. I will never spend a single one of those dollars. Has this quintillion dollar print changed the value of the dollars that are actually changing hands? It has not.
But of course no one is stupid enough to put their dollars on a mattress. They will, like everybody else, try to find a way to run from inflation, be it investing on stocks or any other assets. So your point is of course true but irrelevant.