Coinbase from YC to DPO • Hacker News Board

Re: Coinbase from YC to DPO

#881

Post by lmm » Mon, Apr 19, 2021, 2:26 AM UTC

quickthrower2 wrote: post #827

lmm wrote: post #799

Earlier quoted context omitted.

I hate this meme. HSBC used their judgement about something for which the law said they had to use their judgement. Then their judgement turned out to be wrong and apparently that's now a crime. Foreign exchange has legitimate use cases, it's not remotely comparable to cryptocurrencies.

Turning a blind eye to money laundering especially when given chances to fix it, and given that money laundering is enabling criminal enterprise that fucks up everyones life, from a household name bank that used to be my high school bank (point is how they market themselves as a nice bank) well I don’t know what to say. Not a meme though.

It's a meme in the sense that it's propagated virally and the story has mutated as it goes. There's no evidence that HSBC were wilfully blind to anything.

Re: Coinbase from YC to DPO

#882

Post by hndamien » Mon, Apr 19, 2021, 3:14 AM UTC

randomopining wrote: post #736

hndamien wrote: post #712

Earlier quoted context omitted.

Rich with ragrets rather than filthy rich.

Damn, no ragrets. Yo but how does it feel to be moderately rich off of crypto? I wonder if anything would change besides not having to work.

This is the biggest difference. Just not a constant stress of keeping up to ensure survival and fulfilment for the family. Now I wonder how best to allocate time and capital, and I have not come up with good answers yet, so I'm still working until I have a better answer. So really all that has changed is mental space has less stress, and I have a much more appropriate family car.

Re: Coinbase from YC to DPO

#883

Post by pushrax » Thu, Apr 22, 2021, 5:09 AM UTC

rawtxapp wrote: post #690

pushrax wrote: post #422

Earlier quoted context omitted.

I'm new to this. Is the collateral locked into the contract and unspendable until the contract is closed? It's also kind of unclear what the interest is from that page. edit: apparently it's 8.5% https://mkr.tools/governance/stabilityfee

The interest rate varies based on collateral: https://oasis.app/borrow/markets . Eth is between 3-9% depending on liquidation ratios, and wBTC is at around 4.5% and both of these numbers are drops in the bucket when you consider that the collateral has appreciated a lot more than that. And one more thing, it's not technically an interest rate , it's a stability fee (which btw, gets burned, used to go back to stakers,…

Okay, so I suppose the stability fee is paid in MKR, and Dai's stability ultimately is regulated by people who buy MKR, and because MKR is burned by the CDP, people who buy MKR receive the "interest" indirectly due to deflation of MKR? Though MKR is independently traded and seems to move far more from trading than deflation.