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U.S. Secret Service Launches Cryptocurrency Awareness Hub

secretservice.gov

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Re: U.S. Secret Service Launches Cryptocurrency Awareness Hub

#211

Post by MisterBastahrd »

throwaway4good wrote: post #136
aqme28 wrote: post #127

Earlier quoted context omitted.

What are you talking about? APY on a loan is not P/E.

It is a return. And it is not loan, it is a "stake". An example of the mumbojumbo obvious fraud that is out there. It has nothing to do with a company making money by producing useful products or services that has actual real world value.

When you stake, you are using your own money to guarantee that transactions on a network will process successfully. If something happens and they don't, you lose that bag.

Staking is just a very stupid loan that you give out without having any real insight into the people who borrowed from you.

Re: U.S. Secret Service Launches Cryptocurrency Awareness Hub

#212

Post by convolvatron »

tomc1985 wrote: post #167
spaceisballer wrote: post #165

Earlier quoted context omitted.

I for one am surprised by the negative sentiment only because the tech industry seems to be all about it. I don’t see the problem it is trying to fix. Crypto by is terrible as a currency, transactions are slow and damn can they cost a lot. And the currency itself fluctuates a lot. It’s not really decentralized, it’s not really anonymous and it can be manipulated. There seems to be no end to people hyping crypto and N…

> I for one am surprised by the negative sentiment only because the tech industry seems to be all about it. Between the prevailing trend of rent-seeking subscriptions and shoving NFTs/blockchain into anything that some knucklehead thinks it will fit in, tech is very much becoming grift culture as the nerds get run over by sharks, business types, and crypto bros

that trend started 30 years ago

Re: U.S. Secret Service Launches Cryptocurrency Awareness Hub

#213

Post by mlac »

SilasX wrote: post #196
mlac wrote: post #174

Earlier quoted context omitted.

It’s becoming widespread with all of the apps, super bowl ads, and reduced friction in getting into crypto “investing”. It used to be people who purchased crypto had to know what they were doing (and know the risk). Now anyone can buy crypto without any understanding of anything after seeing a 30 second commercial about smart investing.

Again: being widespread is not the same as being a systemic risk. That just means it's a casino everyone wastes money in. Who is defaulting on critically important obligations because of a crypto crash? What creditworthy business isn't getting a loan to cover cash flows for the quarter because BTC fell to 10k?

If it gets bad enough, it will increase the number of consumers who are defaulting on credit cards, mortgages, auto loans, and student loans.

Re: U.S. Secret Service Launches Cryptocurrency Awareness Hub

#214

Post by matt_mb »

rvz wrote: post #20

Now I know why lots of terrorists, extremists and dark net criminals are running to Signal with the release of a private untraceable cryptocurrency called MobileCoin, which allows them to fund their operations anywhere in the world. They seem to be starting to learn that Signal's USP is great for criminals and scammers. To Downvoters: I'm sorry to report that it is true: [0] [1]. [0] https://www.theverge.com/22872133…

There's plenty of us that use Signal and aren't terrorists or extremists. Do you drive a car or use cash? Terrorists do those things also.

Re: U.S. Secret Service Launches Cryptocurrency Awareness Hub

#215

Post by ideamotor »

nrzd wrote: post #52

I’m blown away by how anti-crypto this discussion is. I hadn’t realized how negative the prevailing sentiment is on Hacker News. One argument seems to be that cryptocurrency is purely speculative, which is apparently a dirty word. What about the stock market? What about any kind of investment? If you truly believe that cryptocurrency is the basis for a superior economic system, isn’t it rational and wise to put some…

You want to trade a system that has decayed with a system that is deliberately rotten. Banks and securities are regulated, have some limited democratic governance, and crypto is designed to not have these things. That’s definitely propagandist thinking, mixed with a cherry picking and a dash of confirmation bias. What’s shocking is that people share your views in good faith.

Re: U.S. Secret Service Launches Cryptocurrency Awareness Hub

#216

Post by aaaaaaaaata »

CabSauce wrote: post #130
mantenpanther wrote: post #103

Earlier quoted context omitted.

A neutral, permissionless currency adds value.

At least until someone creates another one... and another one... and another one.

But there are tens of thousands now.

The real value is in the consensus, which is gotten by having:

Trust (longest chain) Technical security/other intangibles lowering risk Liquidity

Not necessarily in that order for all people.

Re: U.S. Secret Service Launches Cryptocurrency Awareness Hub

#217

Post by luciusdomitius »

SketchySeaBeast wrote: post #139
dataangel wrote: post #119

Earlier quoted context omitted.

Satoshi actually had a theory for Bitcoin pricing. He thought it would behave like gold, where over the long run the price converges to the cost of mining it. The cost to run the miners is a floor on the price, because if miners mine unprofitably eventually they go bankrupt.

So, assuming it's around that long, what happens in 2140? Infinite value?

Not really. Historically, no global currency since the Byzantine Solidus (whose practical dominance vaned with the Fourth Crusade in 1200-something) has lasted longer than 80-100 years. So, Bitcoin isn't even trying to do so.

Re: U.S. Secret Service Launches Cryptocurrency Awareness Hub

#218

Post by JumpCrisscross »

Karunamon wrote: post #175
ramesh31 wrote: post #149

Earlier quoted context omitted.

>The best balance I can come up for crypto is to mandate KYC at all on and off ramps That would drive the value basically to zero, since the entirety of all crypto market caps are based on their ability to facilitate digital crimes.

Do you have a single fact to back up this extraordinary claim?

> Do you have a single fact to back up this extraordinary claim?

Which claim?

Re: U.S. Secret Service Launches Cryptocurrency Awareness Hub

#219

Post by tastyfreeze »

ramesh31 wrote: post #146
nrzd wrote: post #52

I’m blown away by how anti-crypto this discussion is. I hadn’t realized how negative the prevailing sentiment is on Hacker News. One argument seems to be that cryptocurrency is purely speculative, which is apparently a dirty word. What about the stock market? What about any kind of investment? If you truly believe that cryptocurrency is the basis for a superior economic system, isn’t it rational and wise to put some…

>I’m blown away by how anti-crypto this discussion is. I hadn’t realized how negative the prevailing sentiment is on Hacker News. There was a dream that was crypto once upon a time. It is now exclusively the domain of organized crime, grifters, and every imaginable permutation of ne'er-do-well you can possibly scrape up on the web. The entire space sickens and disappoints me.

All of those things exist with anything that is easily exchangeable and valuable. I am confident there are more people using crypto for legitimate purposes than there are scammers. I would question why examples of ne'er-do-wells in crypto is all you hear about.

Re: U.S. Secret Service Launches Cryptocurrency Awareness Hub

#220

Post by xadhominemx »

selestify wrote: post #161
aqme28 wrote: post #96

Earlier quoted context omitted.

> Basically what's missing is the ability to even guess at the "true" value of cryptocurrency. There's no P/E ratios to consider because the only thing Crypto "produces" is Crypto transactions. It's also impossible to even guess at a floor or ceiling for the price of a cryptocurrency. The only thing that determines their price is human sentiment - a very fickle input. Interestingly, this isn't really true anymore. Mo…

> Price to earnings (P/E) ratio. Calculated by dividing the fully-diluted market cap with the annualized protocol revenue. Shows how a project is valued in relation to its protocol revenue. That's misleading. Revenue is not earnings. For something like Uniswap, you also have to look at how much of earnings is given to liquidity providers versus spent on token buybacks.

Plus all the revenue is generated from cryptocurrency trading. It’s all circular.
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