111–120 of 227 posts
Transferring money through banks is such a pain in the ass versus crypto. It really feels like we’re at a tipping point where ACH and wire transfers become the equivalent of writing a check.
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> Expensive watches are supply limited Exactly like NFTs. Not defending NTFt's just pointing out your argument isn't making much sense as presented.
Can't you sign a lot of time the same hash? Just use another initialization vector, salt, hashing algorithm, and you get a new nft.
Transferring money through banks is such a pain in the ass versus crypto. It really feels like we’re at a tipping point where ACH and wire transfers become the equivalent of writing a check.
With crypto I need to keep care of my keys and the address of receiver might change lot more. Where as bank account number is static for years...
Is it really a bubble or is it driven by market demands as more and more applications and use-cases emerge? In the end, a lot of the blockchain infrastructure relies on bitcoin hence it moves in sync. China's real estate market is a bubble because there is a excess of 500 million dwellings that are not needed.
Who is actually using it? I know a lot of people that have like 100-200 € in it as an experiment and they spend 0€ . It's 2017 all over again.
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> never gone through a major economic crisis COVID and the massive supply of dollars since last year is not one?
No, those two things go in opposite directions. During the march 2020 plunge crypto fell more than the S and P I think In a general recession with declining asset values crypto would likely fall more than general assets, and also risks simply having a massive plunge if Tether breaks at the same time.
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> "it's just a big scheme". Who's doing the scheming, I wonder?
> Who's doing the scheming, I wonder? As with all pump-and-dump schemes, obviously those who pump it. Let's put it differently: what concrete, real-world, tangible value is there driving crypto speculation? Is there any at all? It boggles the mind how crypto proponents try to frame crypto in general and their own investments in particular as something that has this sky-high intrinsic value based only on potential pop…
For a possible answer, please read my other post in this thread.
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Some of the items you listed apply to crypto assets just like regular assets. It’s just the enforcement of the laws hasn’t been as consistent as with other physical financial assets. Specifically: “ - capital gain taxes - death taxes (inheritance taxes) - asset seizures (divorces, bankruptcy, random court decisions against you, Cyprus Bank Disaster [1], etc...)” And > The fact that some of the things listed above wil…
> Evading tax is a criminal matter I thought. In the US it is. Other, more humane jurisdictions view it as an infraction: if caught, you'll get fined, but you won't go to jail.
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How? You can't see if I own any NFTs right now. You can't see it in gmail. You can't see it on facebook. You don't get ads saying "rich NFT holders in your area!". No one knows or cares if you own an NFT.
You can see what people own by their wallet address. The watch example is apt, similar to a Richard Mille being a flex that 99% of people won’t ever notice or understand it conveys status.
Tether is a fraud and everyone knows it. More than half of all crypto trades involve tether so the fraud is pervasive. But the most damning aspect of all is the fact that despite common knowledge of the pervasive fraud, USDT maintains it's peg. This indicates collusion by the market making exchanges in perpetrating this widespread, pervasive fraud. This essentially makes the entire crypto marketplace as we know it on…