571–580 of 910 posts
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That's just not true. Every Bitcoin transaction is conserved in the blockchain, so a government can easily reconstruct the money flow.
And the transactions made on the exchange ? and decentralized exchange ? Can they all be tracked and reconstructed ?
To everyone saying "my credit card pays me 2% to use it", no, your credit card charges the merchant 2.3%+ to use it, that gets bundled into the price, and they give you 2% of that as a kickback.
I'm not sure how that's different? When a merchant accepts cash, they have to pay for physical security and pickup, it's prone to theft or miscounting, etc. So cash isn't free. Accepting card payments is also not free. Merchant pays visa for convenience (to both merchant and customer); visa kicks some back to customer.
https://twitter.com/maxfield_wall/status/1287097229220536321
I lived in Taipei for a year and almost all transactions there are cash, debit, or bank transfer. You can do a bank transfer to anyone instantly for pennies. Really puts the ACH system to shame. Some things are better than getting 2% back.
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Say everyone in an unstable economy were paid in usd. If that country has foreign deficit, if that country has high government debt. What happens? How can the government keep paying its own employees? How does it pay retiree checks? How does it subsidize farming when needed? As long as a country cannot print usd itself, this is a fast shortcut to unemployment, hunger, etc... Strong currencies are not the solution to…
> Strong currencies are not the solution to poor governance. Good governance and democracy makes a country and its currency strong. Not vice versa. That's a good point. Too many people propose individualist solutions to social problems, and all their "solution" would do is make the social problem worse. I think that stems often stems from an overzealous faith in free markets, which leads to a distorted idea that indi…
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You haven't shared "the point" just a link to MicroStrategy, a failed software company whose CEO had to pay an $11 million dollar SEC settlement decades ago for cooking the books, making a desperate Hail Mary play buying near the top of a speculative mania in a bid to gain relevancy. MSTR is the new "Long Island Iced Tea" -> "Long Blockchain Inc" rebrand [1] Humorously enough, the same is roughly true of Tesla, a car…
CPI probably doesn't reflect inflation the way Fed looks at it. They use PCE[1]: >An accurate measure of inflation is important for both the U.S. federal government and the Federal Reserve's Federal Open Market Committee (FOMC), but they focus on different measures. For example, the federal government uses the CPI to make inflation adjustments to certain kinds of benefits, such as Social Security.[3] In contrast, the…
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Why would you have to wait an hour? A credit card isn't instant? Isn't there some level of trust involved here?
You won't have to wait an hour because MasterCard will support Bitcoin. However, this completely goes against the idea of decentralization.
And to be honest I do not see the point for them to support a decentralised currency like. just complying with the regulatory rules ( KYC, anti Money laundering,etc...) Would be a real nightmare
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Say everyone in an unstable economy were paid in usd. If that country has foreign deficit, if that country has high government debt. What happens? How can the government keep paying its own employees? How does it pay retiree checks? How does it subsidize farming when needed? As long as a country cannot print usd itself, this is a fast shortcut to unemployment, hunger, etc... Strong currencies are not the solution to…
> As long as a country cannot print usd itself, this is a fast shortcut to unemployment, hunger, etc... We don’t even need to make up hypothetical examples. We have a live one in Greece. The Greek citizens went through this exact ordeal for the exact reason you stated. They couldn’t print EUR and the ECB wouldn’t extent monetary support to Greek government.
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Pegged tokens like USDC and USDC can still be used to speculate in DeFi platform like AAVE with pretty lucrative returns.
Where do the returns come from? Does the interest return come from actual investments? Or is it paid forward by newcomers? The latter is the literal definition of a ponzi scheme. There's no free lunch when it comes to generating interest.
It may also interest you to know that AAVE was granted an Electronic Money Institution license by the U.K. Financial Conduct Authority (https://register.fca.org.uk/s/firm?id=0010X00004U9vVAQAZ).
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What's the point of an unstable, volatile, frantically manipulated currency that is susceptible to social media pump and dump schemes (Elon + Doge)? Currency and its exchange rate needs to be relatively stable for the world to put trust into it. Saying that BTC is stable, but the rest of the world's fiat currency is fluctuating makes no sense. US dollar provides stability and security, I feel confident that a cappucc…
Your view must be skewed by privilege of having stable currency. Currency of my country lost 250% of its value over last 7 years. It's not bitcoin-level volatile, but close to it. Thankfully I have an option to use USD to hoard money, but that option is not something that's given, in many countries you just can't exchange for fair price. I agree that for someone living in US or EU there's no much point using BTC.
See, it doesn't matter what the technology behind a currency is, it ain't going anywhere on your government's turf without permission. They have the ability, if they choose, to go door to door looking for 'unlawful money launderers' or any other designation they slap on the use of crypto and there's nothing you can do about it.
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And yet you and everyone else are unable to produce any meaningful sources or analysis that justify your beliefs. [citation needed] and we can talk about it. Healthcare is a social policy matter, not monetary policy, and nothing to do with increase in the money supply. You take that up with your representatives not the Fed. Housing is a function of city council zoning policy. You take that up with your city council n…
> Housing is a function of city council zoning policy... This is the laughably reductionist take that predictably appears on HN when folks think the dynamics of San Francisco apply everywhere. Housing costs have nothing to do with the Fed? Really? You don’t believe record low mortgage rates are driving demand at all? Nah, it must be city council zoning policy that is sending home prices soaring all over the country—-…
Imagine if you are a bathroom remodeling company and people are building new bathrooms for $5k. You can build a bathroom for $4K. Suddenly the fed is loosening its monetary policy and people are building bathrooms like crazy with their bathroom mortgages. They are willing to pay $10k per bathroom but your costs didn't change. It's now extremely profitable to build bathrooms and that's exactly what you are going to do. You're going to hire lots of workers so that everyone can get their bathrooms. Turns out, a competitor does the exact same thing but they sell their bathrooms for $9k. Add more competitors and the price will be very close to the cost of construction.
Now replace the bathroom with the entire house. Suddenly you realize something. It's very difficult to find land to build your new house and even if you did you would have to upzone the property by tearing an existing property down and building a 2-3 story multifamily home there. Unfortunately, doing this is illegal in many places and where it is legal permits are being denied for arbitrary reasons.
You can't tell me that construction companies can't make money off new construction because the cost of housing is too low.
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We aren’t talking about assets and what you’ve just said is the reason we have controlled inflation. Currency isn’t supposed to incentivize hoarding it, quite the opposite in fact.
Not everyone agrees with that view. I for one would rather people spent their hard-earned money in a smart, slow and well-thought way than feel compelled by inflation to do so fast and lose.