LUNA worked on a different principle. The user bought a LUNA token, then received stablecoins for blocking the LUNA tokens and staked them at 20% per annum. Naturally, this caused a large increase in the price of LUNA tokens.
Any project that wants to do this will end up with the same scam.
That's why there were reserves, which were supposed to balance the value, but the ratio of the market value of UST to Luna and the insufficient reserves are what led to the movement of UST down, but it took more than a week for the price to fall between 30 and 60 cents, and therefore there was enough time for those who wanted to sell. Because he sold at a loss of 30%. What I am trying to say is that there must be reserves, and the more cash and liquid reserves there are, the better the performance of the stable currency, and this decision makes the stablecoins more dependent on the government and afraid of it. When a stablecoin reserve contains an asset, the price of which determines the price of the stablecoin, then the usual Ponzi scheme, only in a more cunning version. Because earlier entrants benefited from the entry of new entrants into the ecosystem. There were a lot of red flags here, and the biggest red flag was 20% per annum in stablecoins (equated to the price of the dollar). And even the best investors in the world could not give such results. |
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Ok, I'll try to read up on bitcoinIRA because I don't understand how a third party custodial service allows US citizens to avoid paying taxes.
That's what IRA's are allowed to do is grow your retirement savings without paying any taxes UNTIL you start taking distributions. But if you set up a Roth IRA, there are no taxes when you start taking distributions since it was funded with "after-tax" money. Very simple. Alot of financial service companies offer IRAs, but most of them only let you invest in more traditional things like the stock market. Here in the USA that is... If you can briefly explain to me how bitcoinIRA works, I will be grateful to you.
Think of it as a centralized exchange that you can trade crypto among various things like BTC, ETH and other major cryptocurrencies. Buying and selling all you want without having to file anything with the IRS. All that buying and selling can create a major reporting requirement otherwise. So I guess an IRA is a way to do away with that type of thing. I have never encountered this in my country. If I invest money in my retirement account, which is managed by the fund of my choice, then I will receive my money only after retirement and these payments will not be subject to taxes. If I don’t live to see retirement, my heirs will receive this money. But such an investment has a big disadvantage. If a pensioner starts receiving a pension and dies a couple of months later, his heirs will not receive the remaining money. __ And you didn't explain an important point. If I trade on a centralized IRA exchange and make a profit, which I then transfer to my bank account, how can I then not have to pay taxes? It looks fantastic. |
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Sanctions against Russia revived the Russian economy and caused enormous harm to the economies of neighboring countries that received cheap resources from Russia. And then Russia kept the money received in European and American banks.
Now news about sanctions is no longer so popular, because many European countries have realized that their economies are suffering much more, while Turkey and China are earning good money.
Things look quite pleasant when you sit in front of the computer and I don't understand the scale of the human sacrifices on the Russian side who are dying to conquer other people's land. Whatever the economic situation is in Russia, it was all paid for with the lives of tens of thousands of people who could be alive today if Russia did not have a madman who considers people expendable. I personally don't miss anything when it comes to Russia, and I don't think any resident of the EU misses anything either - the EU has become quite self-sufficient when it comes to energy sources or when it comes to food production. What China, Turkey or India are doing only shows that their politicians do not care about what is happening in Ukraine, but these are countries that are more similar in their way of governing to Russia than to any EU member.
As for Tether, any of their tokens can be frozen at any time, so if someone in the US has information about problematic transactions related to Russia or any other sanctioned country, why not do something concrete? If the Russians are avoiding sanctions by using stablecoins, then they are certainly not using those that are subject to freezing. I see that you are a smart person, but why don’t you notice simple things. https://interactive.aljazeera.com/aje/2024/israel-war-on-gaza-10000-children-killed/"The Gaza Strip is a graveyard for thousands of children, the United Nations has said. Since October 7, Israeli attacks have killed at least 10,000 children, according to Palestinian officials. That is one Palestinian child killed every 15 minutes, or about one out of every 100 children in the Gaza Strip." Look at the full list of names on the website. Why is the whole of Europe silent about this? They don't care about these people. You still continue to believe that the president of Russia needs other people's land, even though Russia has a lot of its own land that is not being used. Do you really think that any of these politicians care about the lives of other people? Russia is fulfilling a clearly defined task: to destroy the European economy and deprive it of cheap raw materials. If you think a little, you can easily find the beneficiaries of these actions. Sanctions against Russia revived the Russian economy and caused enormous harm to the economies of neighboring countries that received cheap resources from Russia. And then Russia kept the money received in European and American banks.
Now news about sanctions is no longer so popular, because many European countries have realized that their economies are suffering much more, while Turkey and China are earning good money.
Russia was able to turn these sanctions into an opportunity to build the nation's economy. They were able to encourage the citizens to focus on local goods which reduced the reliance on imported goods. This has helped the country to keep saving their foreign exchanges thereby boosting their economy. Recently IMF predicted that Russia will grow faster than all advanced economies . It is forecasted that the Russian economy will grow by 3.2% this year, which is far higher than the economies of the UK, France and Germany. This is not surprising, because Russian money will now work for the Russian economy. |
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@zasad@. However, if they do nothing and the SEC begins winning against Uniswap, Coinbase and other decentralized exchanges, similar to our argument before, the SEC can start requiring the cryptospace protocols to register with the government to get a broker license, a license to hold assets similar to a bank and for users they will demand KYC for each wallet used. This will certainly kill the purpose of DeFi.
Unfortunately, I am not familiar with the whole procedure of working with Wells notice, but I am sure that there is an active work in progress, but we will know the results later. I remember the history of Uniswap, and this protocol was made by a US engineer who got into programming. The company is registered in the US and this is a problem for them. I don't think that DeFi will stop developing under the pressure of SEC, it is more likely that the companies will leave the US market. |
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It is not an outright Banning framework, rather it's more of a controlling framework. The stablecoins can't be stable because of the algorithm but due to the financial reserves. US is trying hard to gain control on everything crypto.
I agree, but stablecoins can be stable because of the algorithm, where there is minting and burning with a reserve in Bitcoin or any encrypted currency, and then this encrypted currency will be decentralized and there is no need for financial reserves or creating bank accounts. Some developers may venture to create something similar to LUNA, so I think that yours is like this. Legislation will reduce the desire of developers to create a stable, decentralized cryptocurrency. LUNA was a big scam, but even I lost money there. I simply diversified some of my stablecoins into this ecosystem and did not engage in staking. LUNA worked on a different principle. Тhe user bought a LUNA token, then received stablecoins for blocking the LUNA tokens and staked them at 20% per annum. Naturally, this caused a large increase in the price of LUNA tokens. Any project that wants to do this will end up with the same scam. |
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Do you think that Twitter followers are an indication of a good project? These followers are sold for tens of dollars on the black market, and even activity and advertising campaigns can be faked.  Solana meme token is a perfect example of a token that wants to seize the opportunity, as their strategy will depend on a small supply quantity, a large closed quantity, sufficient liquidity to pump up the price, intense promotion on social media and then the price explodes upward, many investors come and suddenly everything disappears. When I do a Twitter analyze, I see which famous people in the crypto world are subscribed to this project. If there are no such people or a few, that's the first red flag. All projects use white and black methods of scoring their social media accounts, so the number of followers is not an important criterion. |
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@zasad@. An agreement will only put everything on the cryptospace into a legal grey area. If uncle Gary's decisions are to always attack the cryptospace by regulation through enforcement, it will certainly be much better to go to trial and get a judge's ruling. I predict Hayden will not listen to the SEC and he is ready to go to court with his lawyers. We can be quite certain that he expected this already. How Ripple can help Uniswap in its clash against the SEC
What lessons should Uniswap take from Ripple’s resilience amidst the SEC’s rising scrutiny?Source https://ambcrypto.com/bnb-beats-the-market-crash-heres-what-you-should-know/First of all, this trial is very expensive, if you look at the experience of Ripple. As long as there is a standard procedure, it is very difficult to say what will be favorable for Uniswap. Of course, Uniswap will have the opportunity to assert its rights in court, and most likely the trial will be very long and very costly for the company. I'm waiting for the standard 30 days to see how this stage ends. |
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It is not an outright Banning framework, rather it's more of a controlling framework. The stablecoins can't be stable because of the algorithm but due to the financial reserves. US is trying hard to gain control on everything crypto. They are introducing bills, sending FBI against traders and crypto companies and what not! All these actions have a single goal - control! But I think there are many crypto friendly countries where such kind of cryptos will still be released and without intervention of US government. I think that the DAI stablecoin has quite a working model and a well-known cryptocurrency can act as collateral. Although now the project also pledges assets of commercial companies, which complicates the control over the overall pledge, because now we need to study these assets and the risks associated with them. In Russia, for example, the cryptoruble project is gaining momentum, which decided not to invent anything, but to work on the ready-made model of the DAI project, only cryptocurrencies will be pledged. https://bitcointalk.org/index.php?topic=5492658.0 |
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There are so many such projects in the solan ecosystem and all of them will die in a year. I understand that you only provided information, but it has always been very dangerous to invest in such projects. I usually hear a lot of news about crypto users losing their money in such projects.
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https://twitter.com/Fetch_ai/status/1773380876920922397"Never before in history have three blockchain projects merged in this way. $FET, $AGIX and $OCEAN are making history, combining to form one universal #AItoken known as Artificial Superintelligence $ASI " https://www.binance.com/en/square/post/5967910128082"AGIX, FET, and OCEAN have officially announced to merge their tokens into an #ASI token. The new token will have a fully diluted market cap of $7.5 billion, which will put it in the top 20 crypto. The three entities will still operate separately. The #FET token will become ASI with a total supply of 2.63B and starting price of $2.82 1 FET = 1 ASI [ New Token ] #AGIX and #OCEAN will both be converted at the conversion rate of 0.433 to 1 For Example 1AGIX = 0.433 ASI 1 Occean = 0.433 ASI"
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@zasad@. I wish there will be a trial. Similar to Ripple's case, the cryptospace needs another precedent to limit uncle Gary's regulation through enforcement tactic. Also, we need another market pump hheheehhe.
However, if the judge rules for the case of the SEC and declares that Uniswap should stop allowing American citizens from using the DEX, what can the government do if a person inside the American jurisdiction uses a VPN and continue trading on Uniswap? How can the SEC stop self custody of their tokens?
If this case goes to court, my guess is that it will last at least 1 year. And then you have to look at what fines will be imposed on the company. Banning the use of the service by citizens of certain countries and blocking it by IP address do not work. For now I hope that an agreement will be reached between SEC and Uniswap. |
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У меня кошелек ТОН и пару сотен на нем для экспериментов. Хранить там больше я не готов. По моему все обильные кошельки, которые имеют связь с номером телефона, полный бред.
Для чего то серьезного это использовать я не готов.
Если не готовы к KYC и/или жалко потерять эти средства, то включите Ton Space в настройках Wallet и перекиньте на него средства. В случае проблем хоть сможете забрать (скормив сид в другой кошелек) свои средства. Потерять всегда жалко, но поигравшить с ботами, я может попаду в какой нибудь снепшот. А относится к этой экосистеме серьезно без проверенных аппаратных решений для безопасного хранения я не готов. |
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https://www.sozcu.com.tr/doktordan-poligonda-kripto-para-intihari-p39499 "Dr. Gekhan Çalışkan, who worked in the field of family medicine in Diyarbakır, committed suicide at a shooting range. It became known that the 33-year-old doctor suffered losses and fell into depression as a result of his operations on the cryptocurrency exchange. Dr. Gökhan Çalışkan, who stated that he would go to a private shooting range in Diyarbakır and shoot, committed suicide by putting a gun to his head. It is stated that the doctor, who was buried amid the tears of his loved ones, committed suicide as a result of depression due to losing on the cryptocurrency exchange, which suddenly collapsed after Iran decided to attack Israel. Notably, the information that he had made a loss was shared by the doctor in his social media post before he committed suicide."
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https://www.coindesk.com/tech/2024/04/16/crypto-exchange-okxs-new-layer-2-chain-x-layer-built-on-polygon-tech-hits-public-mainnet/"OKX, the fourth-largest crypto exchange, said its new layer-2 blockchain, called X Layer, has gone live on its public mainnet, a continuation in the era of major crypto companies starting their own distributed networks. X Layer, previously known as X1, makes use of Polygon's Chain Development Kit (CDK), a customizable toolkit that lets developers build their own chains by making use of zero-knowledge technology. The news comes as other major cryptocurrency exchanges have pursued their own layer-2 networks over the past year. In August, Coinbase launched its “Base” blockchain, which is built with Optimism’s OP Stack. Kraken is reportedly also interested in creating its own layer-2 blockchain."
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https://twitter.com/ArkhamIntel/status/1778741086418059740"Our team created a dashboard featuring the Governments with the largest crypto holdings. For each country, you can see their current BTC balance, balance history in USD, and a real-time feed of their most recent transactions. Some of the largest countries on Arkham are the US, UK and Germany - now all conveniently tracked in one place." 
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