131–140 of 147 posts
Earlier quoted context omitted.
Crypto is the only reliable way to pay contractors in Russia now. Saying "no real value" is quite stretch!
And yet, for it's otherwise-no-real-value it may come to pass that even Russian contractors will say, "Нет биткоина".
Earlier quoted context omitted.
No. People pay cash all the time. You think illegal immigrants do kyc stuff? And that's just a small example
KYC doesn't say you can't walk around with $10K in your pocket paying cash everywhere. It says the $10K should come from an understood source when you take it in or out of the bank. I don't understand the illegal immigrant comment. Please do explain that if you like.
And I have paid for cars and expensive things in cash myself because I value my privacy.
If crypto is banned and kyc and cash restrictions take place I will be forced to work with shady people and only hope they cause more harm to this messed up society that wants to take my liberty away. I would gladly fight in or support civil wars for this cause.
Since the dawn of civilization, it has been a right of a free person to own what they want and barter it or exchange currency for some item.
The governmemt does not get to understand or track what sources I get money from. Before the internet, no government cared so long as we paid taxes on all our income.
Find another way to prevent "shady" stuff which fyi will not be deterred one bit, criminals would trade rocks as currency backed by a bigger criminal before letting this bullshit stop them. It's my unaluenable right to not be forced to do business or hand my earnings by default to a third party company be it banking or insurance. May society burn before that happens.
Earlier quoted context omitted.
KYC doesn't say you can't walk around with $10K in your pocket paying cash everywhere. It says the $10K should come from an understood source when you take it in or out of the bank. I don't understand the illegal immigrant comment. Please do explain that if you like.
Illegal immigrants don't use banks at all. And I have paid for cars and expensive things in cash myself because I value my privacy. If crypto is banned and kyc and cash restrictions take place I will be forced to work with shady people and only hope they cause more harm to this messed up society that wants to take my liberty away. I would gladly fight in or support civil wars for this cause. Since the dawn of civiliz…
Earlier quoted context omitted.
KYC doesn't say you can't walk around with $10K in your pocket paying cash everywhere. It says the $10K should come from an understood source when you take it in or out of the bank. I don't understand the illegal immigrant comment. Please do explain that if you like.
Illegal immigrants don't use banks at all. And I have paid for cars and expensive things in cash myself because I value my privacy. If crypto is banned and kyc and cash restrictions take place I will be forced to work with shady people and only hope they cause more harm to this messed up society that wants to take my liberty away. I would gladly fight in or support civil wars for this cause. Since the dawn of civiliz…
Earlier quoted context omitted.
> Traditional banking system is unreliable Chase lets you send wires online for 40 bucks still to all but half a dozen banks there. There might be cheaper ways to wire, too. Not sure what's so unreliable about that, worked all of this year so far.
My experience is opposite, but never tried Chase, will look thx.
Earlier quoted context omitted.
Baloney. Many stablecoins are not pegged 1:1 to USD, for a strict example see Rai. If a stablecoin has enough collateral, then the managers (human or algorithmic) can let the peg loosen in order to purchase and burn the coin at a discount or mint and sell the coin at a premium. That said I’m being a bit pedantic as the specific design of USDD (as well as UST) has that property since the collateral is correlated to th…
You are missing the forest for the trees. The point is that the ability to maintain the peg is the only important value of a stablecoin, if this is brought into question it will be tested. Once it is tested it will either hold, thus 1 or fail and reside permanently at 0. The exact implementation of the peg management - human, algorithm or otherwise doesn't change this fact.
In other cases the primary use case can be to provide liquidity for a product or service. In these cases, a strict 1:1 peg isn’t needed as the product essentially goes on sale if the stablecoin’s value falls. Of course the merchant needs to be locked in to the stablecoin as the sale mechanism for this to work.
Earlier quoted context omitted.
It may not be a get rich quick scheme, but it's certainly helpful in countries with oppressive inflation, in spite of its 80%+ crashes. Venezuela's inflation rate was 1,700,000% in 2018.
It seems equally helpful as USD then.
Remember folks stablecoins have exactly 2 stable states, 1 and 0.
Only 0. The "1" state is apparently stable when there's permanent excitation of the underlying cryptomatter (otherwise known outside of cryptophysics as "pumping"), but that always comes to pass, as the pumping molecules are finite.
Sad nobody talks about Monero when cryptocurrency is mentioned. It is pretty much the only viable cryptocurrency. There are no wild promises of getting rich quick, just technology. There are hundreds of cryptocurrencies and Monero stands out like a sore thumb, trying to deliver nothing else other than privacy, security, and stability. It's what Bitcoin should have been. I am seriously not all that interested in crypt…
What is the purpose of “stable” coins? If you want a thing that is worth a dollar, why not just use dollars? Or use Belize dollars. They’re worth $0.50 by law and have no instability issues.
Tax, if your country has capital gain tax you need to declare every single trade to real USD. When you are trading between crypto pairs you are not realizing any gain, thus you don't need to declare it. Until you eventually sell of course.