Visa Plans to Enable Bitcoin Payments at 70M Merchants

Post by perl4ever » Fri, Mar 19, 2021, 10:54 PM UTC

ALittleLight wrote: post #394

perl4ever wrote: post #387

Earlier quoted context omitted.

All else being equal, given that you turned $100 into $100K, you're much more likely to have $100K that you can afford to lose. Saying that the history of your investing shouldn't impact your choices is saying that your total wealth shouldn't affect your choices. But if I borrowed $100K against my home and it gets foreclosed and I'm homeless, that's very different from if I gambled $100 and got $100K whose loss will…

That's exactly the fallacy I was describing. Whether or not you can afford to lose money is completely independent of how much your initial investments cost. You will tend to make more money, provided you have some ability to predict, if you do what you predict is best based on the present and the future, compared to changing your decisions based on the origins of your money.

  A = Bob has $1M in bitcoin.
  B = Bob can afford to lose $1M.

  A = Bob has $1M in bitcoin which he paid $100 for.
  B = Bob has $1M in bitcoin which he paid $1M for.
  C = Bob can afford to lose $1M.

Post by ac29 » Sat, Mar 20, 2021, 11:55 AM UTC

67868018 wrote: post #444

nonameiguess wrote: post #295

Earlier quoted context omitted.

This is an amazingly cynical take. I mean, I wish you all the luck in the world in your attempt to get rich, but you're making a bet that the global economy is going to collapse, in part aided by a pandemic, and rather than doing anything to help, the world's wealthy are going to opt out of using their wealth to help anyone in favor of hoarding bit patterns on hard drives in their dragon caves. I don't think I want t…

I don't like where the world is heading either, but let's get real: JP Morgan is on board, now advising their investors to join in (and the bank behind Coinbase) Fidelity is on board Morgan Stanley is on board Visa, MasterCard AMEX has been using crypto to get best possible currency exchange rates for a couple years Coinbase has a healthy relationship with the SEC and is about to get their banking charter approved fo…

Post by cfcosta » Sun, Mar 21, 2021, 6:21 PM UTC

graeme wrote: post #491

cfcosta wrote: post #458

Earlier quoted context omitted.

>The other part is that it is not easy to directly trade USDT for USD. Kraken is the only place you can do so directly, it is the only place the peg is directly tested. Apart from that to get USD you need to trade to something else, like BTC or ETH, and then sell that for dollars. What do you mean? I trade USDC and USDT from and to Fiat using Binance, and it's a breeze. I get the funds directly on my bank account in…

Interesting I was under the impression you couldn’t. Does Binance have a USDT/USD trading pair? If not, what are the mechanics of trading from USDT to fiat?

Post by joshsyn » Mon, Mar 22, 2021, 1:00 AM UTC

Tepix wrote: post #75

mrkramer wrote: post #38

Earlier quoted context omitted.

Satoshi said in 2009: "The existing Visa credit card network processes about 15 million Internet purchases per day worldwide. Bitcoin can already scale much larger than that with existing hardware for a fraction of the cost. It never really hits a scale ceiling. If you're interested, I can go over the ways it would cope with extreme size." "By Moore's Law, we can expect hardware speed to be 10 times faster in 5 years…

Then came the bitcoin core wars. Today bitcoin is a technological dead end, unable to evolve.

Post by vicvvv » Mon, Mar 22, 2021, 6:21 PM UTC

imtringued wrote: post #441

vicvvv wrote: post #370

Isn’t the whole idea of decentralized digital currency systems to eliminate intermediaries, maximize privacy and reduce transaction costs? The visa network stands to lose the most, get seriously disrupted, more they are scrambling to stay relevant and frame this as a value added service.

Lose the most? If people are moving onto Visa's Bitcoin network for some inexplicable reason then Visa is clearly winning because customers aren't fleeing into a competing startup.