301–310 of 517 posts
How can NY require mandatory reporting on core business, if both entities are forbidden now to transact with New Yorkers? How would this even be enforceable? "Sorry, we don't do business in your state."
I'm waiting patiently for the whole Tether printing scheme to fall and crush to finally purchase Bitcoin / Ether. However I'm not viewing them as inflation hedges so long as Bitfinex / etc. are allowed to continue with their obvious money printing scheme. When most crypto trading volume is traded at trustworthy exchanges which actually hold dollars as much as they say they do, I'll trust $/BTC to be a fair market. It…
Cryptocurrency isn’t the only way to escape USD inflation. Investors have been investing to avoid inflation long before Bitcoin was invented. Investing in virtually any asset other than cash will, almost by definition, shield you from inflation. Inflation is an increase in asset prices, resulted in reduced buying power. You only need to invest in assets (stocks for example) and minimize holdings in cash if your goal…
Earlier quoted context omitted.
Stocks prices get negatively impacted by rising interest rates. With interest rates at ~0%, there's little money to be made in bonds, savings accounts, or anything that pays interest income, so people put money into stocks w/ the hope the stocks will go up. When interest rates go up to fight inflation, there's more incentive to put money into bond markets, which means there's not as much money going into stocks, whic…
What’s your recommendation for least-worse inflation hedge?
But seriously, look at the past 20 years and your takeaway should be that USD is indestructible and that the Fed can do no wrong. They ran the printing press day and night for years and struggled to hit 2% inflation. "Full Faith and Credit of the US Government" is evidently the best inflation hedge in the world.
I've been following Tether for quite a long time. I have no absolute proof it is a scam but the writing is on the wall. Here are some facts. - The current Market Cap of USDT is 34 Billion Dollars. It was 4B this time last year. Since the value is pegged this means there has been an influx of cash of 30 B into this shady company in the last year alone. Who invested this money? We have no idea since Tether doesn't disc…
> There's no way to transfer USDT into USD. The few exchanges that say they offer withdraws actually don't if you go and try. There is an easy way. Swap USDT to USDC on Curve. Deposit USDC on Coinbase. Convert USDC to USD on Coinbase. Withdraw USD. I'm not saying I disagree with your overall thesis. But this specific point makes it sound like USDT is some sort of roach motel ("you can get in, but you can't get out").…
Then what is your explanation for why it is not possible to directly exchange USDT for USD, there must be a reason that no exchange wants to do that.
> that most of the market doesn't perceive a risk.
That is absolutely no indicator for safety.
Earlier quoted context omitted.
BTC has been the #1 asset over the last 10 years. In many individual years it has out performed every other asset. It has this year by a large amount. At some point the dissenters will have to admit they were wrong. The reality is, BTC is here to stay and is a valuable hedge that is independent of any corporation, government, or central bank.
What does it mean to be wrong? Should I have mined 1000 coins in my CPU a decade ago? Duh. Does that mean that BTC is a useful financial hedge against inflation? Why would it? BTC went up by a factor of a gazillion during a decade when USD inflation was not out of the ordinary. Clearly something other than "inflation hedge" is driving the price.
What is driving the price is price discovery. More people are becoming comfortable with it as an asset as the FUD described above has continued to be debunked. As more people become comfortable that drives demand which increases the value.
As a hedge against inflation it works for a number of reasons. People generally price it in dollars, like stocks or real estate. As the dollar inflates one would assume the value of BTC would increase as investors have more dollars to invest into it, driving demand.
But the "something other" is more and more people agreeing it has value and therefore creating more demand for it and therefore creating higher prices. This is how any asset works.
Earlier quoted context omitted.
Key word being "can". On average securities have a much better return than bonds, but they also have a much higher risk of a large drop in value.
On an individual basis perhaps but not if you're in an S&P 500 ETF.
I've been following Tether for quite a long time. I have no absolute proof it is a scam but the writing is on the wall. Here are some facts. - The current Market Cap of USDT is 34 Billion Dollars. It was 4B this time last year. Since the value is pegged this means there has been an influx of cash of 30 B into this shady company in the last year alone. Who invested this money? We have no idea since Tether doesn't disc…
> There's no way to transfer USDT into USD. The few exchanges that say they offer withdraws actually don't if you go and try. There is an easy way. Swap USDT to USDC on Curve. Deposit USDC on Coinbase. Convert USDC to USD on Coinbase. Withdraw USD. I'm not saying I disagree with your overall thesis. But this specific point makes it sound like USDT is some sort of roach motel ("you can get in, but you can't get out").…
Why don’t more people use USDC anyway?
Earlier quoted context omitted.
Oh, don't get me wrong, I'm not supporting Tether. Tether may completely fall off the edge of the world and nobody would care. There would be a minor impact on the price of bitcoin and things will move on. As I mentioned, I believe the proof of insolvency is weak, but I don't think it matters long term either way. Better alternatives will supercede them soon enough. USDC and possibly Libra will be excellent choices.
> USDC and possibly Libra will be excellent choices https://www.coindesk.com/libra-diem-rebrand
Earlier quoted context omitted.
Cryptocurrency isn’t the only way to escape USD inflation. Investors have been investing to avoid inflation long before Bitcoin was invented. Investing in virtually any asset other than cash will, almost by definition, shield you from inflation. Inflation is an increase in asset prices, resulted in reduced buying power. You only need to invest in assets (stocks for example) and minimize holdings in cash if your goal…
I used to say "a house will always have the price of a house" (it has issues of course cough 2008 cough ) to illustrate what you're saying here as I never managed to explain it properly like you did.