Crypto currency (IF banned from CA)

[LinekersLegs]

I never realised bitcoiners are here to save the world. My sincere apologies. I think you have some apologising to do also @LinekersLegs

Tbf there are a segment of the crypto world who genuinely do to believe that.

Just feel that among the idealists there are a disproportionate amount of hustlers, con artists and downright crooks.

 

[Spadge Vernacular]

CBDC: changing the geography of central bank money - LSE Business Review

Central bank money still cannot be used in international payments. But the transactions that are likely to benefit the most from central bank digital currencies (CBDCs) are international wholesale payments, including foreign exchange and securities trading. Ousmène Jacques Mandeng writes that...

blogs.lse.ac.uk

 

[Kev The Rat]

I never realised bitcoiners are here to save the world. My sincere apologies. I think you have some apologising to do also @LinekersLegs

Who says I’m here to save the world?

nothing in my above post suggests me or anyone else is out to save the world.

 

[Kev The Rat]

 

[YoboCopter]

How are we crypto maniacs? Whos making money

 

[collymcd]

It would be buying gold electronically.

This is a similar model

Paxos | Pax Gold (PAXG)

The safest way to own investment-grade gold.

www.paxos.com

Can gain 8% interest on this via Nexo as well. Amazing stuff.

Regulated mainstream DeFi more generally is going to be an incredible shift in the finance world. AllianceBlock will be launching a single sided liquidity mining (with minimal impermanent loss) product shortly. Can't wait for it.

 

[The binman chronicles]

How are we crypto maniacs? Whos making money

All said and done I'd rather it crash so I can buy in again in bulk.

 

[PhilM]

View attachment 128829

Doesn't Bitcoin consumre more electricity than most countries in Africa, more than Ireland and nearly 160 countries in total?

"Cambridge’s Centre for Alternative Finances estimates that bitcoin’s annualised electricity consumption hovers just above 115 terawatt-hours (TWh) while Digiconomist’s closely tracked index puts it closer to 80 TWh.

A single transaction of bitcoin has the same carbon footprint as 680,000 Visa transactions or 51,210 hours of watching YouTube, according to the site.

A paper from 2018 from the Oak Ridge Institute in Ohio found that one dollar’s worth of bitcoin took 17 megajoules of energy, more than double the amount of energy it took to mine one dollar’s worth of copper, gold and platinum. Another study from the UK published last year said that computer power required to mine Bitcoin quadrupled in 2019 compared with the year before, and that mining has had an influence in prices in some power and utility markets."

Some have pointed out that there does not have to be a tradeoff between cryptocurrency and the environment. The creators of ethereum, considered the second most popular type of cryptocurrency after bitcoin, have promised to change the currency’s algorithm to make its mining more environmentally friendly.

Vitalik Buterin, the computer scientist who invited ethereum, told IEEE Spectrum that mining cryptocurrency can be “a huge waste of resources, even if you don’t believe that pollution and carbon dioxide are an issue”, Buterin said. “There are real consumers – real people – whose need for electricity is being displaced by this stuff.”

 

[LinekersLegs]

Another (the 4th?) attempt to take us below 30k USD has failed.

The bears grip on the situation is beginning to unravel….

I would expect a big uptick this week

Not trolling - found the bit at ~13 minute mark interesting on the recent crash

 

[collymcd]

I just don’t see the demand for any government backed digital currency

One of the main purposes of government backed currencies is to take power from retail banks, and shift it to governments and central banks. There's a lot to be said for that.

For a start it would take power from banks who really shouldn't be trusted. There'd be greater access to banking. Greater control of welfare payments & subsidies to citizens. Almost instant payments. Extremely low costs of finance.

There's a lot of benefit to digitising currency. It's not to be confused with other speculative cryptocurrencies, like Bitcoin.

The big worry would be destabilising bank's loan books, and moving them to the periphery of the economy. Also, would central banks and governments be ready to be retail facing? Nobody really knows how that would go.

 

[Daveysgingerlovechild]

So I've been doing some research and this isn't the same as buying a coffee at Costa and getting points you can use to buy another coffee, is it?

Explains why I couldn't see how it was more ethical or would save the world. Mad!

 

[YoboCopter]

All said and done I'd rather it crash so I can buy in again in bulk.

Same im just waiting been saving up my lemo doe and putting it in a jar ready to buy a bitcoin

 

[LinekersLegs]

All said and done I'd rather it crash so I can buy in again in bulk.

And that mentality is why I find it interesting from a trading aspect - seems to be lots of people who feel the same way (even if not in some of the altcoins at least for Bitcoin) so it will have a trading floor which will likely attract new/extra money.

There was some of that bid in the dotcom boom but it didn’t seem as resilient to large % drops.

Stanley Druckenmiller: “The greatest investors make large concentrated bets where they have a lot of conviction”

The investing legend tells us whether we are in another tech bubble, the appeal of Bitcoin, what makes a great investor and more

thehustle.co

Then the second thing that happened is I got a call [from billionaire hedge fund manager] Paul Jones and he says, “do you know that when Bitcoin went from $17,000 to $3000 that 86% of the people that owned it at $17,000, never sold it?” Well, this was huge in my mind. So here’s something with a finite supply and 86% of the owners are religious zealots. I mean, who the hell holds something through $17,000 to $3000? And it turns out none of them — the 86% — sold it. Add that to this new Central Bank craziness phenomenon.

[A few years pass] and it goes up to $6,000 in the middle of the last spring. I got to buying some just because these kids on the West Coast are already worth more than I am, and they’re going to be making a lot more money than me in the future. For some reason, they’re looking at this thing the way I’ve always looked at gold, which is a store of value if I don’t trust fiat currencies.

 

[Kev The Rat]

And that mentality is why I find it interesting from a trading aspect - seems to be lots of people who feel the same way (even if not in some of the altcoins at least for Bitcoin) so it will have a trading floor which will likely attract new/extra money.

There was some of that bid in the dotcom boom but it didn’t seem as resilient to large % drops.

Stanley Druckenmiller: “The greatest investors make large concentrated bets where they have a lot of conviction”

The investing legend tells us whether we are in another tech bubble, the appeal of Bitcoin, what makes a great investor and more

thehustle.co

Then the second thing that happened is I got a call [from billionaire hedge fund manager] Paul Jones and he says, “do you know that when Bitcoin went from $17,000 to $3000 that 86% of the people that owned it at $17,000, never sold it?” Well, this was huge in my mind. So here’s something with a finite supply and 86% of the owners are religious zealots. I mean, who the hell holds something through $17,000 to $3000? And it turns out none of them — the 86% — sold it. Add that to this new Central Bank craziness phenomenon.

[A few years pass] and it goes up to $6,000 in the middle of the last spring. I got to buying some just because these kids on the West Coast are already worth more than I am, and they’re going to be making a lot more money than me in the future. For some reason, they’re looking at this thing the way I’ve always looked at gold, which is a store of value if I don’t trust fiat currencies.

You see you still look at it from a very microeconomic trading buy low / sell high perspective.

you need to look further into it than that to analyse it’s behaviours.

 

[Jimishorts]

Think I’ll just stick to my physical money for now. I’m off to Zimbabwe to cash out.



So long suckers.