271–280 of 424 posts
I have had a little money stuck with them since they banned US customers to the original site. There has been absolutely no way to transfer the money out of my account, even to Binance US, and I eventually had to just call it a loss.
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Binance "voluntarily" retracted the license application in Germany: https://www.btc-echo.de/schlagzeilen/binance-kryptoboerse-zi... Binance retracts license application in Austria: https://de.beincrypto.com/binance-rueckzug-aus-oesterreich-d... Binance has been unable to get a license in the Netherlands: https://twitter.com/binance/status/1669628787267624961 Binance to discontinue services for UK customers https://ww…
Don’t forget, Binance is banned in China. That’s another 18% of the world’s population.
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But cryptocurrencies were designed to be deflationary which makes them shitty currencies. There's no point in spending a cryptocoin today when its value will be higher tomorrow.
But fiat currencies were designed to be inflationary which makes them shitty store of value. There is no point in saving in fiat today when it’s value will be lower tomorrow.
We don't want dollars to sit in hoards. We want them to circulate. If I can be without access to dollars for a while I can loan them to you for some enterprise. Then you pay me back more than I loaned you (and more than inflation we hope) because your enterprise created additional value.
If my excess money circulates I benefit from access to the things that money is used to build in addition to the interest I receive. Since I'm not a medieval landed noble my economic value isn't measured by the productivity of the serfs on my land holdings.
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If crypto crashes when leaders of countries with worthless currency ban it, then maybe crypto isn't really that great at solving any of the problems it purports to solve (independence from central authority etc).
Nothing can win against the motivated enough government.
Every bit of evidence is that the crypto boom has crashed to Earth. In tech it is basically a dirty word now and is overwhelmingly associated with the worst products, the worst teams and the worst get rich and quick sorts. In the rest of the market it has made little to no impact. Yet somehow BTC is still trading at close to historic highs. Now to be fair the market cap of all of BTC is 1/4 Apple, but if it were remo…
BTC was around $65,000 a couple years back, no? I wonder how much of the current price of $28,000 is propped up by lost thumb drives , or wallets seized by authorities - limited supply rather than continued speculation.
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Yes, I do. I'm originally from a bad country (Russia) but right now live in a good country (Poland). I still do some work in the bad country and USDT is basically the only inexpensive, easy, and fast way to transfer money from the bad country to the good country.
So the big use case of crypto is evading and violating international sanctions?
The fees of which are estimated to be over 5% [1]; I mean imagine losing 5% of your paycheck just because of currency problems!
The current Etherum TX fee is 0.0004 which at 1 ETH / 1,573.09 USD comes out to 62 cents.
Would your rather pay 5% of your transfer to send money home to your family or 62 cents?
[1]: https://fbf.eui.eu/what-explains-international-remittance-fe...
Every bit of evidence is that the crypto boom has crashed to Earth. In tech it is basically a dirty word now and is overwhelmingly associated with the worst products, the worst teams and the worst get rich and quick sorts. In the rest of the market it has made little to no impact. Yet somehow BTC is still trading at close to historic highs. Now to be fair the market cap of all of BTC is 1/4 Apple, but if it were remo…
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This really is the key thing. Crypto allows for the evasion of laws. That's its key contribution. In authoritarian states this is probably a net good. In the rest of the world this is a harm. "The killer app for this technology is crime."
[US specific] Without evasion of laws, women wouldn't be allowed to vote, black folks would be slaves, interracial marriage would be a crime...I can go on and on. The ability to disobey unjust laws is absolutely essential to the health of a society.
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Your conclusion is pretty funny. In general, when reality doesn't match up with my sources of information, I assume that my sources of information are biased or wrong, not that reality itself is. I was genuinely expecting your last sentence to be something like: "The fact that it still holds is the best demonstration of how biased the tech echo chamber is."
The price of BTC reflects one incredibly narrow band of reality. BTC can quadruple tomorrow and the broad reality still is that crypto has not achieved any of the promises, and is less relevant today than it was 10 years ago. But BTC is "traded" in a largely unregulated market, has poor liquidity, and there is every indication that it is being held afloat by manipulation. BTC has close to zero barrier to entry, can b…
There is no credible evidence that Bitcoin is being "held afloat by manipulation", that's just wishful thinking. It is also a very liquid market: billions of dollars in daily volume.
> BTC has close to zero barrier to entry
That's wrong. Mining power is a big one. Some other barriers: developer mind share, network effect, branding, perceived fairness of initial distribution, software ecosystem, etc. If it was easy to "replace in a second", it wouldn't still be the top cryptocurrency.
Like I said, you might want to reconsider your sources of information.