321–330 of 339 posts
Earlier quoted context omitted.
Really? Running open source software "isn't any easier" than convincing your government to overhaul their banking infrastructure?
Yes, making small improvements to the existing system is much easier than getting every single financial institution in your country to switch to a blockchain.
Earlier quoted context omitted.
> It's pretty simple, all the Bitcoin 'manipulation' you see is simply buying/selling open market coins. LOL. And every tether is backed by a US Dollar in a bank account, right? Nobody could possibly (say) fake buy pressure to put the prices up? > The point is, Bitcoin will bounce back, the dollar will not. What point? For what purpose will bitcoin "bounce back" that the dollar will not? As the dollar is not an inves…
Wrong - Savings accounts, treasury bills, and CDs are all ways to invest dollars and make returns in kind. The dollar itself though will not appreciate, it will continue to deflate due to unstoppable money printing. Bitcoin doesn't have this problem, so you can hold it and long term there is a good chance it will appreciate. Again, the dollar has zero chance.
None of these is "investing in dollars" though. You're not just holding dollars and hoping the value will go up, because literally nobody does that. By design. If you want money to grow you invest it in productive assets. Unless you're into cryptocurrency when you gamble it on group psychology and dickbutt jpegs like 3AC did.
> Bitcoin doesn't have this problem
You haven't described a problem.
Earlier quoted context omitted.
When I claim that anyone has perfect knowledge… I still won’t be interested in what it says in a Daily Mail article.
DailyMail is like Wikipedia — a great first spot to spin off and read a dozen sources you probably haven't seen yet. All linked and just waiting for you. I wish you luck on your reading-less journey through this topic.
Earlier quoted context omitted.
When I claim that anyone has perfect knowledge… I still won’t be interested in what it says in a Daily Mail article.
DailyMail is like Wikipedia — a great first spot to spin off and read a dozen sources you probably haven't seen yet. All linked and just waiting for you. I wish you luck on your reading-less journey through this topic.
Earlier quoted context omitted.
We can do that, and I'm not sure I would like to make a prediction about the price of any particular cryptocurrency asset that far ahead. But I'm also not sure what that has to do with my posts further up, which are saying that another claim about cryptocurrency, that it's a hedge against the stock market and the wider financial system, is wrong. If you're trying to say "Well it might work out, longer term!" then I'm…
> that it's a hedge against the stock market It can be, but still be correlated right up until that moment.
The claim is a bust.
Earlier quoted context omitted.
I used to pay to run a few TOR exit nodes located in Iceland that I didn't want tied to me because I didn't want the hassle. It was marginally easier to use bitcoin than it was to get a prepaid credit cards with cash each time. That's about it though.
I actually think there are other use cases for crypto, but this isn't one (anymore, bitcoin may have been more anonymity-preserving in the past) Unless you mined the BTC yourself from a VPN that doesn't keep logs, or acquired it directly from someone else who didn't know you, the BTC would be traceable to you now (though it may still require coordination of multiple state-level interests which is typically reserved f…
Opsec was still weak in terms of nation state actors but I was doing something legal, I just wanted to minimize the chance of random hassle.
Earlier quoted context omitted.
Wrong - Savings accounts, treasury bills, and CDs are all ways to invest dollars and make returns in kind. The dollar itself though will not appreciate, it will continue to deflate due to unstoppable money printing. Bitcoin doesn't have this problem, so you can hold it and long term there is a good chance it will appreciate. Again, the dollar has zero chance.
Savings accounts are for short-term liquid ... savings. You only keep in those what you need in the forseeable. None of these is "investing in dollars" though. You're not just holding dollars and hoping the value will go up, because literally nobody does that. By design. If you want money to grow you invest it in productive assets. Unless you're into cryptocurrency when you gamble it on group psychology and dickbutt…
Your hurr crypto bad because NFTs and 3AC is basic association fallacy.
The problem is the dollar will not appreciate, bitcoin will, whether you like it or not.
Earlier quoted context omitted.
Interesting but I don’t see the relevance here? LUNA has fallen by enough that it’s a rounding error against assets. CEL (the Celsius token) has not.
I've been shorting it. The markets don't have to make sense right away, but eventually they do. There's alot of corruption involved first. The old mantra of the market can stay irratiional longer than you can stay solvent is true only if you make a big bet. Make small bets that you believe in. For instance, shorting LUNA's stable coin once it slightly deppegged was a smart financial decision. Since it could only 'reP…
Earlier quoted context omitted.
The problem is that you need at the very least 1 on-chain transaction for every human participant, to get money into one wallet that they control. But BTC barely manages 5 TPS and ETH maybe 20. This means that BTC would need about 115 days to add 50M new people onto the block chain, and ETH could manage it in a month - only to have 1 wallet with some amount of coins in it (of course, assuming nothing else whatsoever…
I am not sure any of this is accurate since you can directly on-ramp to L2s and also purchase L1 and L2 assets off-chain. An L2 like zk-rollup - assuming the protocol is implemented correctly - has same security guarantees as Ethereum since the validity proof is posted to L1. Most of them include an escape hatch, a L1 function that lets users withdraw funds in a permissionless way. Ethereum can certainly theoreticall…
Also, not sure what the point about off-chain assets is. I can buy cheese off-chain, even denominated in BTC maybe, but that doesn't mean I'm using BTC or LN when giving the seller 10,000 sat worth of cash.
> An L2 like zk-rollup - assuming the protocol is implemented correctly - has same security guarantees as Ethereum since the validity proof is posted to L1.
zk-rollup seems to be a technology, not a specific L2 implementation as far as I could find, so I couldn't see more details. How would you transact with it without an ETH wallet? If it's posting to L1, how does it avoid L1's slowness.
> Ethereum can certainly theoretically scale to millions of users and a far higher order of magnitude than VISA.
I'll believe it when it's a little closer. Currently, the difference is so huge this seems like a comical statement.
Earlier quoted context omitted.
Are the tokens a senior claim on any of their assets, though?
No. The CEL tokens are not securities, and do not represent any debt or equity. CEL holders are not entitled to any claim on Celsius' assets. The CEL token's sole purpose was as a tool to offer users promotional rates (and maybe for a bit of insider pump-and-dumping).