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It sparks a lot of issue from the regulatory side, so many people opposes it and what I mean by people including politican and government higher ups maybe because it's coming from facebook and that could somehow shake the monetary system but we don't know for sure what's really holding it back meanwhile service like paypal accepting crypto just fine, maybe it has something to do with the concept of the libra project that probably deemed to be rather fishy or what, idk.
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Defi lending is just allowing you to borrow while your assed gonna be used as a collateral, it's just the same as lending in real world, except it's done automatically with code instead of needing human intervention.
But what blows my mind is the flash loan, which essentially allowing someone to borrow millions of dollar without collateral, to literally anyone, but there's special requirement why that could be done and why that's not gonna make the platform goes bankrupt.
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You can always join validator pool where they gather the amounts of ETH staked from many individuals, so basically the saying of someone need to have 32ETH to become a validator is invalid,
and POS in a nutshell is just making the blockchain simpler in terms of being validator and less energy consumption at the expense of security, there's many discussion about the security factor that holds back many old coins from switching to PoS.
Freezing of ETH is unavoidable unless the pool could offer some kind of contract that allows anyone to cash out like anytime with some charged fee, that way it's sustainable for the pool provider.
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It's just wrapped token so you can interact with most of smart contract using these tokens but it really pegged to the real coin,
for example, if you want to swap BEP20 token to altcoin like litecoin, since it's not available in BSC you usually need to go to cex and exchange there and that's the only way you can get that, but with these wrapped tokens, you can use for example pancakeswap to get wrapped litecoin tokens that represents the real token.
nothing new and it's not even strategy, it's just a way to give more capability to trade other blockchain coins for dex or defi users in their blockchain.
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First it was Defi and many made millions. then enters NFTS and it was not as successful as it is because it involves huge resalers and copy right. i think the current trending tokwn is Meme coins. recently The popular marketer of dogecoin elon has discovered another token he banks on not minding the shibu inu token. As always floke will become huge success. just because of Elon.
NFT is successfully gaining its stance as a solution to the representation of physical goods but tokenized, it's gonna be here for a long time considering its real use case once people figured that this kind of thing exists, what we need for NFT is just a platform that allows even the people who doesn't really know technology to use it, not to mention if government gets interested in it even if they runs NFT token in a consortium blockchain or private blockchain it's still gonna be a good thing. |
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El Salvador must b a good place to live for a bitcoiner.
Like any country, your cost of living varies to where in the country you live in. If in the major cities, you may find it higher because prices of basic needs are higher especially if you rent a house. Living somewhere outside the cities would be cheaper but comes with risk. Be reminded that it's Central America already and things are true with what you see on TV. I'm not from El Salvador but because base on my experience it's how they are.
With a country having such a high crime rate, I would not recommend moving to remote rural areas. I know that the crime rate has come down recently, with the president (Nayib Bukele) cracking down on the gang culture. But in Latin America, there is no stability as far as the political situation is concerned. On top of that, the Americans have also made it one of their top priorities to get Bukele out of office. In case he is replaced as the president, then there is a good chance that the pro-Bitcoin policies will be reversed, and the crime rate may go back to the previous levels. If they could succesfully supress the criminal rate in their country while also enforcing this law that in favour of cryptopeneur they could be another dubai where rich people gathers. The bill they gonna pass is some revolutionary ones that have such big potential to gather capital to their country, such a waste for that effort if they can't optimally attract cryptopreneurs from over the world just because of that. |
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It's really time for p2p and decentralized exchange to shine seriously, until how many times people gonna get scammed again and again meanwhile if there's a trustless platform for p2p where people could trade to each other without any struggle to trust each other while also making things convenient, it should become a preferred method. These centralized exchange scamming and their owner that could get away with billions of dollar honestly is really tiring to hear.
sad thing though people still gonna prefer to use cex despite all these cases.
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When it comes to long term project like bitcoin which was initially meant to replace our traditional monetary system, it's when the adoption of bitcoin as payment method, or something that's essential in our lives becomes very common, that already making it succesfull, even I already consider bitcoin of today as beyond succesfull, but for a projects that offers product it's when they have many users that I consider them to be succesfull, after all, adoption by the masses is the most important factor to decide whether a project could be alive for long or not.
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Indeed, the cryptocurrency market is completely unregulated and there is no regulatory authority. So, there are more frequent signs of market manipulation. That is why, it is very important to distinguish natural market movements from direct interventions, so as not to relate to market manipulators.
It certainly is just a big old capital war against the retailer, even if some people consider crypto in general as unregulated, it's actually still regulated through those centralized exchanges. The exchange could know who's manipulating the market by seeing transaction history, but most just gonna let the market manipulators be free because they have big capital. Just try to search up stock market manipulation history, it's full of them despite the whole market strictly regulated by the authority. |
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They have quite huge amount of TVL meaning they are somewhat trusted by the masses but then again no one knows for sure whether this platform gonna be secure within your locking period.
so basically as many people said DYOR, or you can simply ask some people who have experienced staking in that platform maybe in their telegram group.
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When it comes to tokenized bitcoin like these, liquidity is all what matters, I mean most of people uses these tokenized bitcoin mainly for interacting with defi and I doubt anyone gonna hold it for long so security is not really a concern, so far the best option is WBTC as you mentioned but if anyone happens to want to hold this kind of token for a long term, then they should prefer BEP-20 BTC after all it's issued by binance and that company surely have that much amount to provide the real btc for pegging.
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China is very strict on all cryptocurrencies. such as The mining has stopped and is prohibited from operating.
I think China's actions for financial institutions to cut crypto related services to make crypto users can't doing anything there. is there an ulterior motive?
I believe, the ulterior motive is that they have no full control about the usage of cryptocurrencies. And knowing China, as much as possible they want to track the movements of their people. If they will be loose about the usage of crypto, they won't know the full movement of funds. However, this restriction won't stop their crypto users to continue their crypto involvement. They will always find a way how to go around from these restrictions. I think their ulterior motive isn't to control crypto but to keep people from using crypto because they about to launch their own CBDC. Basically they just want to make the market available for their own digital currency so that it could become a huge market instantly and the mining crackdown was due to their power outage that has happened some time ago which actually is good to decentralized the hash rate to some extent, just see how the miners are moving out from china to some other countries with less authoritative government. |
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Is Elon still manipulating the said coin? Many weeks have passed since he actively engaged in both Bitcoin and Dogecoin. But I have not heard anything other then the SpaceX coin ads there are frequenting Youtube ad space. If it is true that he is developing his own cryptocurrency, then it will be sure that he will abandon Dogecoin and will be concentrating on his own coin. We can see a massive drop in DOGE and those who bought during the ATH will suffer greatly.
he is not making any big statements yet, as he understands that the last time he received a lot of negativity because of his tweets.I think he will still make statements about cryptocurrency, but they will not be as manipulative as in the past. He's just got warned by the SEC, elon is the kind of guy who seems chill but actually opportunistic imo and if there's chance arise he'll definitely do that again and I doubt he spend so much time shilling just to retreat without real reason like that. though it seems he's holding making some shill specially for btc because the market is rather bearish and his shill will have significantly less impact, he's just waiting for opportunity thats it. |
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They literally keep repeating the same thing over and over again to FUD the market, remember that they keep saying they gonna ban crypto every year and preventing institutions form dealing with crypto like from few years ago and you can see people over china still be able to use cryptocurrency freely.
I think at this point people should learn to just ignore china's statement against crypto, they can prevent crypto from flourishing in their country as they want, people just gonna move over using overseas service etc.
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It's the same as like every other market. Where there's a way for speculation there's also a way to manipulate the market by the big capital holders, the more unregulated it is, the more ways for the market to be manipulated. The most important thing is, instead of focusing on that we should be more focused on analyzing what kind of movement
the whales gonna take next time and it's usually have something to do with affecting the market player psychology.
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Elon Musk will go to the moon to live and someone else will run TESLA. I want it to happen faster. GM motor and other automakers already accept Bitcoin as payment.
The reason that Elon gives for accepting Bitcoin is manipulation and we all know that electricity comes from hydroelectricity. It's just a form of power transferred from the water, just like the sun and the wind. Elon Musk is trying to be devious in this case, and I don't see the reason for that.
Doubt elon gonna live in the moon, it's just unhabitable. Not to mention even if he really live on the moon he pretty sure have a way to somewhat manage tesla from a far because you know, he might've deployed interplanetary network connection by the time he could build something in the moon but that's very unlikely scenario. To be honest though, if people stop making tesla as if it's the holy grail of the electric automobile we wouldn't even care whether tesla gonna adopt bitcoin or not. |
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Even if they did it won't dent the market forever. if they truly want to revoke because of external pressure then it's better to do it now but if turns out el salvador could keep bitcoin as their legal tender then maybe other countries that are insterested in it gonna follow.
but I doubt the politician there gonna do that because revoking thing after approving almost immediately just come to show that they are not really good in making decision.
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-snip-
Dude, maybe you want to fix your typing since your post is really hard to read, at least for me. Anyway, the electricity price has been mentioned above and there are a lot of users who claim that it is not cheap enough. If that's true, I doubt the majority of the miners would move there, even if they're protected by the law. depends on how much profit the miners could make, if it could make at least 80% of their former profit when still residing in china then maybe that's doable but is it really big deal though when the hash power decreases due to china's crackdown of miners? Back then people keep saying that bitcoin is too centralized since the mining power mostly coming from china, now that's not happening anymore and people are worrying about it although the mining difficulty dynamically changes based on the available hash power if I recall correctly. |
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