$2k a month seems to be a popular idea.  a different group of house democrats has proposed another bill promising $2k monthly payments to americans through the end of the pandemic, and $1k/month for a year after: WASHINGTON, D.C. – Today, Congresswomen Rashida Tlaib (MI-13) and Pramila Jayapal (WA-7) unveiled the Automatic BOOST to Communities (ABC) Act, legislation to immediately provide a $2,000 payment using BOOST debit cards to every person in America as critical relief during the COVID-19 crisis, followed by $1,000 recurring monthly payments for one year after the end of the crisis to help our country and families recover. The ABC Act would be funded directly from the Treasury with no additional debt issued by minting two $1 trillion coins, and additional coins as necessary.https://tlaib.house.gov/media/press-releases/tlaib-jayapal-introduce-groundbreaking-bill-deliver-universal-recurringjust mint a couple more $1 trillion coins. why not?  as an interesting side development, the bill necessitates the creation of a fed-issued digital dollar, which would replace debit cards in the stimulus program by 2021: https://www.coindesk.com/digital-dollar-reintroduced-by-us-lawmakers-in-latest-stimulus-billmeanwhile, a fed official said today that ongoing small business bailouts may require $500 billion spending per month: https://www.reuters.com/article/us-health-coronavirus-fed-bostic-idUSKBN21Y2MG?taid=5e9906f65a107f0001b4b6fbno matter how you cut it, there's a lot more helicopter money coming. it's only a question of what form it takes. |
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have you ever stopped for a moment and thought about why the conservative media is so concerned about finding someone else to blame? Everyone liked the blame game, the WHO is responsible for majority of the issue as they were not addressing the situation and even when there were calls for shutting down airports when the spread started WHO gave a briefing that it is not that serious and it is not necessary to shut the airports. dude, the WHO is a chronically underfunded UN agency! since when do governments (especially superpowers) get to blame external organizations like that for basic national concerns like disaster preparedness and public health?  even if you ignore the trump administration's complete inaction for 1+ month, their failure to bar european travel until mid-march, their complete lack of preparedness prior to the epidemic, and their deliberate spread of misinformation re epidemic risks and mask efficacy until april.......even if you somehow believe the trump administration's narrative about delayed knowledge of human-to-human transmission, then riddle me this: why would the USA's public health response ever be dependent on the WHO? people forget that 10-15 years ago, the USA was well equipped to respond to a pandemic: https://abcnews.go.com/Politics/george-bush-2005-wait-pandemic-late-prepare/story?id=69979013obama and trump successively dismantled the entire infrastructure for pandemic response and slashed CDC spending repeatedly. is it a surprise the CDC just became a mouthpiece for the WHO? whose fault is that?  but no, nobody wants to hold their public officials accountable anymore because they are so fucking partisan. they just want to point fingers at people they hate and go to war. this wartime mentality is exactly how the USA started becoming a police state post-9/11, and it's why they were able to justify popular support for invading iraq and afghanistan. the next thing you know, we'll be dropping bombs on beijing. just wait and see where this "ignore reality and blame china at all costs" mentality goes. and watch as these stories become increasingly urgent over time: China may be conducting secret nuclear tests, State Department warnssadly i have noticed most bitcoiners today are not libertarians like early adopters, but populists who channel their economic anger into whatever their news media and politicians tell them to. |
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Where did they make their actual money? I could never be bothered to figure out how they worked and it was never completely clear how/if it worked for non Americans.
i've always assumed they act as a market maker, skimming profit off the discount/premium spread. meaning gift card sellers get a bit less BTC, and BTC sellers get a bit less gift card value. Purse.io is shutting down. They haven't given a reason yet. This is bad for Bitcoin.
any service shutting down---especially one that provides market liquidity---is bad for bitcoin. but it probably isn't a huge deal in this case. i don't think purse.io is particularly popular at this point, though i'd be interested to see some numbers. i always avoided it like the plague because of the fraud risks. |
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But there are stablecoins not pegged to a dollar, but to a gold or some other precious metal. At least their creators say they are pegged. But like with stablecoins pegged to a fiat, stablecoins pegged to precious metals are being audited regularly so there shouldn't be an issue.
But once again that doesn't make them anything special. They're tied to the value of a much larger market with added risks too. there are two fundamental problems that bitcoin solves: -3rd party trust -inflation stablecoins pegged to gold may not address the first problem, but they do address the second one. it's like paper gold 2.0---it's still paper gold, but you can transfer it instantly/electronically, trade it on non-custodial exchanges (avoid KYC), easily hedge crypto or fiat value. as someone who still regularly uses centralized brokers and exchanges for needed liquidity, i see some value in that. i'd much rather trade a liquid gold stablecoin than trade physical gold or use a traditional broker. |
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Are the people who proposed this credible characters? Never heard of either of them. apparently they are the same representatives behind the first $1200 stimulus payment. that says something. house reps are lesser known than senators because there are so many of them---435 vs 100. i don't know these two by name, but i recognize several of the bill's co-sponsors as well known political veterans. I found the one off $1200 pretty weird. It would've been better to drip feed the same amount on a tiered basis but perhaps that's too close to UBI for their liking. Maybe they thought the idea of a one time windfall was less Unamerican. i feel like there was an assumption at that time that the lockdowns might only last a few weeks, then life would return to normal. now everyone is grappling with the reality that it won't. You cant really call it an UBI if it is just a temporary. UBI is a regular pay that happens every month. okay but the way this is framed, it's not temporary. it renews every 6 months until employment levels return to pre-coronavirus levels, which will take years, if ever. i also have a feeling that if people get monthly payments for the next year or two, there's no going back. if people get a taste of UBI as an alternative to working horrible paycheck-to-paycheck jobs that only enrich corporate executives/shareholders, they're not gonna go back to their old lives. there will be a serious push for social changes. that's the biggest reason for conservatives to oppose this now---it will permanently change how the population views entitlements going forward. |
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trump is desperately trying to deflect blame for american incompetence onto the WHO and china. it's definitely conjuring up belligerent sentiment from westerners, who are eating it up by the spoonful.
Well, I would say all of them (i.e., Trump, WHO, CCP) take part in this madness; however, CCP & WHO should take most of the blame. why is this even your focus? have you ever stopped for a moment and thought about why the conservative media is so concerned about finding someone else to blame? the only people who should truly care about that is politicians (like trump) who will lose their political legitimacy and public office if they don't successfully convince the public that it was somebody else's fault. you know, it's perfectly consistent to believe -the CCP should have acted sooner -the WHO acted as a CCP tool -the trump administration fucked up in any every imaginable way without transforming that into "it's all china's fault, they must suffer for what they've done!" which serves no purpose other than to distract you from the incredible failings of your own government. consider what it meant for china to act sooner: they recognized clusters of atypical pneumonia (cases of which normally already number in the millions per year), identified a common source, isolated the genetic structure of the virus, and worked to determine virulence and transmissibility all within a few weeks! it's incredible that they were able to provide the genetic code to the rest of the world by january 11! consider what it meant for the USA to act sooner: the pentagon was aware of unusual high reporting of atypical pneumonia in wuhan in december. the CDC and NIH were officially informed by january 3. the WHO informed the public on january 5. at the very latest, the trump administration knew of human-to-human transmission on january 20, likely earlier. the trump administration literally did nothing except lie to the public, until it shut down travel from china on february 2. then we saw the first stay home order filed in the USA on mach 19. until april 3, the CDC continued telling people not to wear masks in public. the national stockpile of PPE was virtually nonexistent. there is still no hope of widespread testing in the USA, who will undoubtedly be the worst hit country by the pandemic, at least officially. the contrast is stark. you have to remember---in january, this was a newly discovered virus, about which nothing (include transmissibility) was known. it was a developing situation that was urgently being studied. now the trump administration is desperately clinging to the preliminary chinese study ruling out human-to-human transmission as the reason for their months-long delays, even though another chinese study contradicted it 6 days later! it's incredible how stupid the trump administration thinks the public is, but sadly they are right. people are eating this propaganda up by the spoonful and blaming china, as if they zero memory of what just happened over the past 3 months. To be honest, I don't think the US military intervention can free people from CCP or other authoritarian regimes. If any of the US, China, Russia go to war, it's undoubtedly will be catastrophic for the planet. I hope the Chinese will have the same sanity level as the Russian so that no one will push the button.
china is not who you need to worry about. it's the USA and UK you need to worry about, in terms of a military war. |
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more helicopter money on the way?! everybody over age 16 would get $2k/month, no questions asked: Washington, DC – Today, Representatives Ro Khanna (CA-17) and Tim Ryan (OH-13) introduced the Emergency Money for the People Act to provide additional cash payments for hard-working Americans who have been impacted by the COVID-19 pandemic. While the CARES Act was an important first step, its one-time payment does not provide nearly enough support for American families.
The Emergency Money for the People Act expands relief to more Americans and includes a $2,000 monthly payment to every qualifying American over the age of 16 for up to 12 months. It also fixes a bug in the CARES Act to ensure college students and adults with disabilities can still receive the payments even if claimed as a dependent. The Emergency Money for the People Act additionally recognizes that not everyone has a bank or a home address to receive a check – so it allows individuals to get this money through direct deposit, check, pre-paid debit card, or mobile money platforms such as Venmo, Zelle, or PayPal.
Under the Emergency Money for the People Act, monthly cash assistance payments would be guaranteed for at least six months and would renew for another six months unless the employment-to-population ratio for people ages 16 and older returns to the pre-covid crisis employment level of 60%. These payments would not count as income in order to protect eligibility for any of the income-based state or federal government assistance programs.
Reps. Khanna and Ryan proposed the first cash infusion plan a month ago, which the Administration and Senate Republicans embraced, and was passed into law with the CARES Act. But as a record-number of Americans have filed for unemployment in the past weeks, it’s clear a one-time payment will not be remotely sufficient. In some places, this doesn’t even cover a month’s rent.
https://khanna.house.gov/media/press-releases/release-representatives-ro-khanna-and-tim-ryan-introduce-legislation-sendcould this pass? 17 co-sponsors and counting. i never thought UBI would be on the table so soon, but with the economy on the verge of collapse, unemployment skyrocketing, social unrest around the corner.....it doesn't seem impossible anymore. thoughts? what are the limits of money printing?  |
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this is the theme going around now---that there will be continued social distancing and shutdowns, at least on a partial basis, until a vaccine comes out that is scalable to most of the population. optimistically, that could take 2-3 years based on different estimates floating around. a lot of people keep talking in terms of "when the pandemic is over" but consider the spanish flu. that was a 3 year pandemic, january 1918 to december 1920. this could be a rough few years, especially if it turns out that recovery doesn't provide strong future immunity. |
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Thanks for the reply. I'm US-based, and depositing funds will essentially be nil cost for me, unless I understood that wrong. Primarily it'd be the maker/taker fees which would be high as I would be in the lowest tier.
binance.us is gonna be your cheapest option across the board. $0 deposit/withdrawal fee for ACH transfers and 0.1% trading commission at the lowest tier. https://www.binance.us/en/fee/schedulekraken is next cheapest in terms of trading commissions at 0.16% maker fees, but you have to use fedwire to deposit/withdraw. usually that means incurring a wire fee from your bank + possibly a $5 fee on kraken's side depending which service you use. https://support.kraken.com/hc/en-us/articles/360000381846-Fiat-currency-deposit-options-fees-minimums-and-processing-times-coinbase pro has free ACH deposit but 0.5% commissions. About Binance, you can buy bitcoins with a debit card only right? Forget it as well the fees usually suck when using a card. avoid cards. there are always big unnecessary fees. ACH bank transfer may take a couple days (requires a little planning) but it's free. |
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~
Plus there are chances of the Corona virus being a bio weapon and investigations are still being carried around therefore if any party is found guilty it will actually give us more advantage over what we already know about the virus . The country of origin would already have the vaccine and they would just be waiting for it to a disastrous situation so that they can make profit from this situation.
I would exclude this option completely. Although the ideologies behind various governments are different, they are not that different so that such things could be possible. Although there could be a maniac or two in a government, most people morally evolved to the point that they would object, even risking their own lives to save others. moral objections aside, there is no discernible motive either. foreign consumers are the basis for china's entire economic and monetary policy. killing them off (or their economy and thus demand for chinese exports) makes no sense. this virus is also highly infectious; china was obviously incapable of controlling it. it has crippled their economy. if they intended on a biological attack, they would have used a much more targeted attack---one that didn't put their own population and economy at so much risk. https://www.washingtonexaminer.com/policy/defense-national-security/fears-of-biological-warfare-linger-while-experts-say-coronaviruses-cannot-be-controlled |
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As we see everyday many people are dying every day in Europe and America and their economy is going down every day and economy specialties are guessing that the USA will lose his position as economy king and china will take over and we are already seeing that china economy didn't drop much and there already making money in this crisis.
china's economic growth is completely dependent on exports. if the american and european economies shit the bed, who are they gonna sell their goods to? they will take china down with them. Moreover, they have made the US angry with the coronavirus and WHO scandal. With that in mind, we should pray there will be no WWIII.
trump is desperately trying to deflect blame for american incompetence onto the WHO and china. it's definitely conjuring up belligerent sentiment from westerners, who are eating it up by the spoonful. i'm seeing calls for military intervention in china now, even from prominent bitcoiners. aaron van virdum (technical editor, bitcoinmagazine) deleted the tweet but he said yesterday "It's time for the CCP to go, isn't it?" and a bunch of his followers chimed in support of american-imposed regime change in china. people become so rabid so quickly. just feed them a little propaganda and they become flag-waving war hawks..... |
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i missed last weekend's games so roll forward those 400 chips for me @efialtis. went into urgent care saturday and got my results yesterday: i got the coronavirus. still no pneumonia thank goodness. feeling noticeably better after a few days on antivirals so *fingers crossed* i'm on the mend and will play this weekend.  ship me them passwords...... |
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Nope. We don't live in the Middle Ages, once there is proof that some entity is playing dirty, it is doomed, forever. We have the press, social media, etc. we don't need to do the test on our own behalf. It is how the real world works.
My point: A full node keeps its own user from being defrauded (and become the example of a victim for the press) not bitcoin as a whole. Pools are not afraid of full nodes, they are afraid of losing funds because of the obvious social penalties like price falling near zero as a consequence of any misdemeanor.
in your scenario, it's easy to attack the network. users would have to coordinate out-of-band and fork the network every time that happens. with a robust network of full nodes, such attackers would just be ignored. how could your scenario possibly be preferable for bitcoin users? even if you are right about the game theory, why give miners that opportunity? |
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Hi,
I want to beware you all not to be very excited about signing up, or even depositing money at coinbase. It is already third week (!) since I started my signup process. The support is ABSOLUTELY HORRIBLE. They often reply just the copypasted response about escalation and doesnt care. First I was not able to even complete the signup process form because of bug in address field acceptation. Next, as I resolved this on my own - the system did not accept special character in my address WITHOUT any error message describing what is wrong (with NO assistance at all from them! even despite I sent maybe 3 emails with detailed description of my issue). It took cca one week of attempts (as there are only 3 attempts in 24 hours, and without feedback its hard to spot what is wrong) now I am unable to verify my identity, although I have sent maybe 5 different documents (at least 4 of them were 100% eligible).
TLDR: Go elsewhere. They may be the largest exchange but the support is AS TERRIBLE AS POSSIBLE. I have NEVER seen such tragedy of a support, EVER.
And if you are an active user. PRAY to the god that you will NEVER need support. They do not care at all and the response time are infinity.
There are MUCH better options. DO NOT trust them with your money as if anything happens, no one will help you.
Cheers
my experience with coinbase: they usually respond with boilerplate emails at least 2-3 times. if you don't keep pushing, they will mark your ticket solved and won't forward it to the next line of customer service reps. are you having trouble verifying via webcam? i had the same issues when i verified---repeated failure, supposedly low quality. screw the webcam, download the mobile app, and use your smartphone camera instead. that worked like a charm for me. Yeah op is trying to open an account with a company that is mostly located in San Francisco area. There is a heavy lockdown in that area so service is going to suck big time.
Give it a rest for a while they may get better next month.
are their offices actually closed? financial services are exempt from the stay at home order. https://covid19.ca.gov/img/EssentialCriticalInfrastructureWorkers.pdf |
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Not gonna lie, this is actually pretty scary. I've never stopped to think about this possibility since I always had the idea that difficulty decreases anyways even if the hash power is at zero, but that makes sense since BTC only sees blocks and not time itself. Have you seen anything/any discussion about countering this issue anywhere?
there were some fears among core developers that there would be a severe hash rate drop following the 2016 halving. luke dashjr proposed readying an emergency hard fork to the difficulty adjustment algorithm, in case those fears came to pass. the ensuing discussion is worth a read: https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2016-March/012489.html |
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@kezian90, whatever you say bro. i just shipped the 400 chips to youcantwin for this weekend's games. passwords please. see everyone in the morning! |
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i skimmed the prospectus but i can't find this basic info: what is the underlying BTC value of a share? it's really obnoxious how hard 3iq makes it to find basic information about the underlying. everything in the prospectus is priced in USD, and the total fund value in the prospectus is obviously out of date. based on the last traded price vs spot, it looks like ~ 0.0015 BTC, but if it trades anything like GBTC then that doesn't properly account for the premium. 1.95% annual management fee, charged monthly. super expensive, just like GBTC. i suggest holding spot BTC instead..... |
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This is the total opposite, simply because when you remove a middleman you also remove all the security risks that come with. In a centralized exchange, the transactions are off-chain, and it uses centralized hot wallets, if we take a DEX like Bisq for example, you also remove the risks server-side, reverse engineering and so many other points. but is the code vulnerable to exploitation? this issue really isn't much different than hot wallet vulnerabilities at custodial exchanges. how many bisq users do you think are not only analyzing its code, but are capable of recognizing critical vulnerabilities? 0.001% of users? and that's a generous estimate. this creates a situation where users are trusting bisq's developers, just like they trust centralized exchanges to secure their coins. almost every "DEX" has been exploited/hacked in some way by now, causing users to lose funds. it's probably appropriate to say all exchanges pose significant security risks to users, whether they are custodial or not. the primary advantage of using bisq isn't security---it's avoiding KYC. |
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they're using line charts, which only show the closing price, not the extremes. coinbase closed that day at $5637. People cannot even apply for unemployment because the phone lines are overloaded (presumably some people are getting it, just hearing that this is hard).
most state agencies are reporting these system overloads, which makes it really hard to gauge how bad the situation is. it's gotta be worse than the official numbers, not to mention self-employed folks who are out of work but don't qualify for benefits. JPMorgan predicting 20% unemployment, unreal! https://www.cnbc.com/2020/04/09/jpmorgan-now-sees-economy-contracting-by-40percent-and-unemployment-reaching-20percent.html |
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