Lone Bitcoin Whale Likely Fueled 2017 Price Surge, Study Says

Post by repomies691 » Mon, Nov 04, 2019, 4:06 PM UTC

DagAgren wrote: post #99

StavrosK wrote: post #54

Earlier quoted context omitted.

Similarly, I try to add it to all my side-projects that accept payment. I looked at a few payment providers and settled on OpenNode, as they had the right mix of an easy API, quick support and good documentation, though I would like it if they supported more cryptocurrencies. If you want cryptocurrencies to succeed, you need to make them widespread as a form of payment. I already lament Steam and Stripe removing Bitc…

Unfortunately, Bitcoin as designed is technically incapable of being in widespread use for payment, due to a severe lack of network capacity, and a complete lack of interest in ever changing this. Instead, all effort is going into a building a flawed second layer that is theoretically unsound and a usability nightmare.

Post by leppr » Mon, Nov 04, 2019, 4:10 PM UTC

mrep wrote: post #112

the_gastropod wrote: post #79

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> He could have sent it 'traditionally' but he would have been harassed about why he was sending money abroad and wasted considerable time and effort going to a physical bank branch. Instead in under a minute he sent me some Ethereum and we both were able to confirm the transaction near immediately Have you heard of options like TransferWise or OFX? They offer immediate transfers, lower transaction fees than ETH or B…

> BTC/ETH are 0-sum games, so on average nobody earns a dime of interest I would argue it is actually negative sum as billions of dollars worth is newly minted every year and a lot of that inevitability has to be sold to pay the miners electricity bills. I'm honestly shocked they haven't collapsed due to the never ending supply side pressure requiring billions of dollars worth of capital inflow every year.

Post by ppf » Mon, Nov 04, 2019, 4:11 PM UTC

zionic wrote: post #127

ppf wrote: post #102

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The only way to find out is to watch a 20 minute video by a crypto nutter? Is there not a simple explanation for how Dai is pegged to the dollar?

DAI is a complex series of loans, borrowing, and interest that creates incentive to sell your DAI if it goes over $1 and incentive to buy if it goes below $1. DAI has basically maintained $1 for years even as ETH prices have been all over the place. It's battle tested. If you can't be bothered to do a few minutes of research on a complicated topic I don't know what you're doing here.

Post by bdcravens » Mon, Nov 04, 2019, 4:12 PM UTC

StavrosK wrote: post #54

jacquesm wrote: post #31

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I've used it seriously. Paying people in countries without a functional banking system is a real problem and bitcoin nicely helped with that. I also collected some donations for reocities.com which helped to keep it alive. I never bought any, just mined a bit and I never sold any either.

Similarly, I try to add it to all my side-projects that accept payment. I looked at a few payment providers and settled on OpenNode, as they had the right mix of an easy API, quick support and good documentation, though I would like it if they supported more cryptocurrencies. If you want cryptocurrencies to succeed, you need to make them widespread as a form of payment. I already lament Steam and Stripe removing Bitc…

Post by ppf » Mon, Nov 04, 2019, 4:12 PM UTC

leppr wrote: post #128

ppf wrote: post #83

Earlier quoted context omitted.

>Earning interest He's talking about "DeFi" ("distributed finance") - the current craze in the Ethereum world. Various groups are offering significant interest rates for loaning out your Eth. It's hard to see how it's not another speculation bubble waiting to burst.

DeFi loans are typically very over-collaterized. Due to this, they represent way less of a risk to the economy than traditional credit.