The cryptospace appears to be having a domino effect in insolvency after the collapse of Terra Luna. The rumors are presently saying that much of the liquidity in Defi comes from Celsius and also a big part of it is Justin Sun. I am scratching my head in laughter if this is reality or fud hehehe. In any case, yes Celsius appears to have held UST and deposited them in Anchor to get 20% yields. They might have taken a large loss in that. 3 Arrows Capital and other billion dollar cryptofunds might also have money frozen in Celsius. However, this is not the big news. There are some who speculate that the Ethereum Foundation has deposited funds in Celsius. There is a transaction hash some have said but I have not seen it. It might only be fud. Crypto lender Celsius has hired lawyers from Akin Gump Strauss Hauer & Feld LLP as it mulls its financial options after halting withdrawals this past weekend, according to the Wall Street Journal.
Restructuring lawyers have been tapped from the law firm as it mulls what to do after freezing withdrawals, account transfers and swaps. Celsius cited "extreme market conditions" in its announcement at the time.
The Wall Street Journal report said that Celsius "is first looking for possible financing options from investors but is also exploring other strategic alternatives, including a financial restructuring," according to a source with knowledge of the process.Read in full https://www.theblock.co/linked/152084/crypto-lender-celsius-mulls-possible-restructuring-amid-financial-woes-wsj |
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@buwaytress. It is okay to laugh hehe. I admitted my mistake in this thread on page 6, however. It might be because the bear market was beginning and any good news was what hyped me without being my usual skeptical self hehehe.
You also want to laugh at something? Justin Sun has declared that he will buy bitcoin to use as the backing for his own stablecoin USDD.
@bbc.reporter heh yeah, it's just so easy to shoot yourself in the foot when making predictions, analyses etc. Saw that Bitcoin dipped all the way to $21k earlier today, that was Saylor's margin call point, wasn't it? Know if he lost anything or did he dump in more collateral. Bitcoin reserves to protect a stablecoin peg... hmm, where have I heard that debacle before? Funnier is probably that the model has been tried, tested and proven to fail many times! He might not have been margin called yet, however, if an investor begins to put more collateral to maintain a leveraged position, this is a warning sign. We should not forget that he used his company to issue debt to fund the bitcoin investment. He pays monthly interests for this debt. I am not worred about Michael Saylor, however. Elon might be quicker to decide if he wants Tesla to begin selling their investment in bitcoin on a loss.  Tesla and MicroStrategy lost a lump sum amount during the current bear market. Both companies are prominent investors in the crypto market, with billions invested in bitcoin and other cryptocurrencies.
The two massive bitcoin and crypto holders are down by nearly $1.5 billion in combined losses. According to the data by Bitcointreasuries, Microstrategy’s, and Tesla’s bitcoin holdings, 130,000 and 43,000 are worth way below the initial purchase amount.Source https://watcher.guru/news/heres-how-many-billions-elon-musk-and-michael-saylor-are-down-from-the-current-crypto-crash |
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At Which volume, i don't think that's so important in this situation, since Bitcoin is a decentralized currency and being used and adopted as an alternative currency in El Salvador, the volume at which the country reserve stands is what is important and since 1 Bitcoin= 1 Bitcoin and the 2,301 holding is still intact El Salvador government through the president understand the game quite well and are prepared what this even before the Bitcoin adoption and that can be deduced from the minister of finance interview yesterday.
In my opinion, this statement is the mass and media consumption of something similar to populism. No party that uses cryptocurrencies periodically can not be affected by a sharp decline in price, whether in the current wave or others in previous crises and even the next. For savers, we cannot talk about a definite loss as long as the savings have not been touched and as long as there is a firm conviction that the price will return to the rise. But once they think about their use, they are necessarily losers. Do not forget, my friend, that we are here to talk about a country-wide investment with an important economic size . We should also not forget that El Salvador is a poor country, their president bought a risky investment near the all time high and he used taxpayers money to buy this risky investment. What would this make him appear in front of his constituents presently that bitcoin has dumped? I support the inspiration of uniting South America under bitcoin, however, it appears reality has come again to kill the dream. But what has just occured is they have become bagholders. If someone told you a country and a multibillion electric car company would become bagholders of bitcoin, no one would believe you hehehehe. |
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As long as TSLA doesn't sell, it's only unrealized loss. That has a chance to become profit again after some more years.
However, it's interesting to see how will the institutional investors behave now, as "crypto winter" seems to be here.
Since they didn't sell for profit at close-to-ATH levels, I don't expect them to panic-sell now, but "never say never", I know...
I am quite certain that it is more complicated than what it appears to be for public companies similar to Tesla. The unrealized loss will be reflected in their income statement and a public company, they would like this to be positive. This could negatively impact them as a company and on their stock price. @DooMAD. It might depend on Elon Musk and Tesla's board of directors if they continue to hold. However, I reckon that it will be a business decision instead of their mental fortitude. It might be a mistake to make a comment by using our own set of conditions because they have a much complicated situation than us. |
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@buwaytress. It is okay to laugh hehe. I admitted my mistake in this thread on page 6, however. It might be because the bear market was beginning and any good news was what hyped me without being my usual skeptical self hehehe. You also want to laugh at something? Justin Sun has declared that he will buy bitcoin to use as the backing for his own stablecoin USDD. To maintain the USDD algorithmic stablecoin, the TRON DAO Reserve continues to purchase BTC and TRX. The TRON DAO Reserve moved USDT via Binance Exchange to purchase more BTC and TRX as a reserve for USDD, according to Justin Sun.Source https://coinquora.com/justin-sun-100m-usdt-was-used-to-buy-btc-and-trx-as-a-reserve/@Daltonik. If there are institutional investors in America who lost their money in Anchor, I speculate that he will be exrtradited and he will be on trial in an American courthouse. |
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If the argument is based on the model of the S curve, yes rate of adoption always speeds up.
Not always, it only speeds up until we reach mass adoption then it slows down and plateaus. However, what I am questioning is based on reality, it has been 10 years and we are still on the bottom of the S curve?
That is how new technologies are adopted, the more different from what they are replacing they are the slower their adoption is going to be. On top of that we have a lot of FUD by the heads of the corrupt existing financial systems that has slowed the adoption down even more. is there an argument for altcoins to also increase in rate of adoption only because it existed?
No simply because adoption happens based on utility not hype. Altcoins are all hyped up without any real utility. History has also proved that they always dump and eventually disappear. You can take a look at how the list of "top" altcoins were 9 years ago and how many of those "top" coins exist today! If it is not always, is there a chance that it would not be adopted by 1 billion by 2030 similar to what the article was implying? Also, arguable if all altcoins have no utility. It can be argued that platforms similar to Ethereum and Binance smartchain has more utility than Bitcoin. The argument against these platforms are they are centralized, however, Ethereum can also be argued that it has enough decentralization to protect against government censorship. |
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For real, This would be a great idea to implement future events such as Pizza Bake-Off contest like what the forum have done. Also, it would be a great a idea since the campaign manager, icopresss, is one of the active members on the forum who joined these events. Hopefully, they'll be able to use events created on the forum and implement it on their platform for future events and promotions.
In fact, I'm currently in discussions with Cloudbet to launch similar initiatives. In addition, I will definitely pass all the feedback left into the hands of the right person, all ideas and comments. It might be good marketing for Cloudbet if they engage with the community through supporting some of our own initiatives for making sports more enjoyable. In the thread for American Football Discussions, we are organizing ourselves for a season of fantasy football. Cloudbet might want to use that as a promotional opportunity Also, the new site looks very good. They have made small but very important improvements in functionality while also maintaining everything to look the same and familiar for the old users of Cloudbet. |
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It appears everyone is very busy arguing about Kambosos versus Haney and Inoue versus Donaire hehehe. We forgot that this weekend Stephen Fulton will also be fighting Danny Roman. It might not appear to be an important fight, we know Fulton's victory is a certainty, however, every boxing fan should watch it because if Inoue wins, he might move up to super bantamweight and challenge Fulton for the WBC and WBO super bantamweight championships.
Yes, saw that scheduled fight but the odds though. Nevertheless, I don't think that Inoue will go up in weight. Too early for him, and knowing that he is under Bob Arum, I doubt that he will allow his cash cow to immediately jump on the next weight unless he is very sure that he can take Fulton out or any of the champion in that division. So let Fulton battered Roman this weekend, and his chance to win are high because obviously he is the favorite. It does not look too early for the Monster Inoue to move up in weight division and challenge Fulton after what we witnessed versus Donaire yesterday. It also certainly appears that Inuoe has improved since their first fight and will improve more. He is also 29 years old already. That is not very young for the sport of boxing. It is the right time for him to find new challenges in his career. He still has one Filipino on his hit list and that is Casimero, hehehe. This could be a good fight in paper as he is brandish and trash talk Inoue prior. But not sure if Top Rank is willing to give Casimero his fight since he no longer has any belt for now. I move up to fight Fulton is not that bad at all, as you have said, timing is just about right. If Inoue wanted to be recognized as one of the best in this generation then he should look for new challenge and that is going up in weight. Pacquiao proved that already and he sets the bar high that no one can touch what he reach. But others can try to go as high and see their limits. Like in the case of Canelo 175 lbs might be too much for him. But for Inoue, we don't know how far can he go. However, before Inoue can consider Casimero's challenge, I reckon Casimero should first win his WBO bantamweight championship back by challenging Paul Butler. Inoue might be now on a different stage in his career where his next fight will be to challenge the champions of the super bantamweight division or become the undisputed champion in bantamweight. Also, with what Inoue has shown, I speculate he can knockout Casimero within 6.5 rounds. Inoue might become the pound for pound best boxer within 3 years. Yeah, before I forgot, Casimero and Butler is under one promotional banner, Probellum. So maybe John Riel might be given the first option to crack Butler, after all they've schedule to fight but we all know what happens to Casimero in the last minute. So in that scenario, Casimero vs Butler, winner gets Inoue for unification. And I do agree, that Inoue is too good for this division and Casimero might not last 6 rounds against the Monster. But let's see what the future brings for Casimero first. He need to build his name again in the division. I reckon he should be the first one to be given an opportunity as the challenger. This is because it is his own belt hehehe. He never lost it versus anyone. Casimero's management should fight for their client's right as the no.1 WBO bantamweight contender considering that it appears that Butler has already shown his interest on Inoue for a unification. For boxing fans it might be a better storyline if a Filipino challenges Inoue as the avenger of his fellow Filipino hehehe. |
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MicroStrategy holds crap ton of spot bitcoin on their balance sheets; they could just add more and more collateral so they wouldn't get liquidated. Unless we nuke far far below the $21k threshold, the risks for liquidation are virtually nonexistent.
We cannot be very certain if this is as uncomplicated as adding more money to a losing investment because this might also be the fastest way of losing everything assuming that this bear market might occur for a longer amount of time than what is expected or if it would pump to laser eyez to $100k on the next bear market. It is very head shaking that many people in the community find this type of risk taking okay as an investment thesis. |
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it assumes that the rate of adoption will not slow down.
The rate may actually speed up since we are still at the bottom of the S curve.  It also does not mention that technically bitcoin cannot accomodate 1 billion users to use it every day for their transactions without causing the network to increase fees and price out many users.
Reaching 1 billion adoption is different from having 1 billion users using bitcoin every day. Not to mention that 1 billion (~12%) according to the chart would be reached around 2030 which is still far in the future and by then LN will have grown more and the on-chain capacity should have been increased. It's not like tomorrow we are going to see 1 billion users! If the argument is based on the model of the S curve, yes rate of adoption always speeds up. However, what I am questioning is based on reality, it has been 10 years and we are still on the bottom of the S curve? We cannot assume that it can occur based on the model because if it can, is there an argument for altcoins to also increase in rate of adoption only because it existed? Please be reminded that Bitcoin is not only a technology, it is also a medium for finance. In any case, sorry for being skeptical on this. |
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@Hueristic. I am sorry about your accident. Have speedy recovery. Sometimes I forget that there is a real person behind the avatars and the forum names hehe.
On our fantasy league last season, did it have have PPR? Let's do what is easier for newbies like me hehehehe.
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You know what, I’m most excited to see Joanna Jedrzejczyk‘s return. I don’t like many female fighters but I love this girl. She’s such a warrior, an absolute machine. I really want to see her avenge that loss that gave her a long time out with the head injury.
Agreed and it appears that we have a complete movie package for UFC 275. Besides the action, we have an underdog story starring the oldman Glover Teixeira.  We have a PG13 sexy time movie starring the killer assassin, fighting sex kitten, Valentina Shevchenko. Wait for her spin move after every victory in the octagon.  We also have the most suspenseful horror story starring the return of the Boogey Woman.  |
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Is it more difficult drafting players in Yahoo? I have already become very familiar with ESPN's app. I also was reading some comparisons between ESPN and Yahoo and it appears that Yahoo does not alert you if a players is out for the game or questionable?
In any case, when do we collect the entries and how much? Also, should we also have last 2 people with lowest points pay more money at the end of the season hehehe.
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I want to be optimistic but I am shaking my head in skepticism. In spite of the fact that the analysis is correct and it has based everything on data collected since the beginning of bitcoin, it assumes that the rate of adoption will not slow down. It also does not mention that technically bitcoin cannot accomodate 1 billion users to use it every day for their transactions without causing the network to increase fees and price out many users. Also, the anaylsis only mentions bitcoin's adoption as a technology. This might be wrong because bitcoin is also a type of asset that is also trying to compete against banks. Those people behind the banks have made fiat currencies their life blood and would try to kill competitors to protect them. In any case, according to the analysis there are presently 30.8 million net users in bitcoin or 0.36% of the world's population. By taking a cumulative sum of entities net growth, this gives us a value of 30.8 million unique entities (users) on the network right now.
Dividing Cumulative Sum of Net Entities Growth by Global Population (with respect to each year) gives us the percentage of the global population that has adopted bitcoin. By this estimation ~0.36% is currently using the Bitcoin network.Read in full https://static1.squarespace.com/static/5de588aa3e9c044c1ad8cb59/t/62a0cee064cb4b79ded25894/1654705890141/Bitcoin+User+Adoption+Report.pdf |
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My dear, it will be tougher for DeFi projects to progress starting from now on, the new crypto law is out and it's not going easy on any decentralised platforms or even defi projects, the law says all crypto projects must register their team members and CEO in the U.S, how will DEX and DeFi projects maintain their decentralisation from now on? Even if they don't comply investors won't trust them anymore and move their funds to registered crypto projects.
The cryptolaw is not yet a law hehehe. It is only a proposed bill that would need to pass 2 legislative bodies for discussion and a voting process for approval before it can go to the president's desk to be signed into law or veto. Also, if this passes into law, it will only make Defi development move out of America. It will never stop Defi. It is also those types of laws that makes Defi much more needed. The growth of Defi is only beginning and it might be possible that it can be the more dominant type of method for buying and selling coins and tokens for trading speculation. A growing number of users are presently using Defi more than CEX. Over the past five years, decentralized exchanges (DEXs) have emerged as a self-custodial, programmatic way for cryptocurrency investors to trade. DEXs allow users to swap between hundreds of trading pairs without an intermediary. And fifteen months ago, these DEXs first eclipsed centralized exchanges (CEXs) in on-chain transaction volume.
While most CEX transactions happen off-chain on centralized databases and captured on their order books to save on transaction fees, every DEX transaction occurs via smart contracts on-chain. For this reason, as well as the rapid growth of DeFi generally, DEXs now have a confident lead in on-chain transaction volume. From April 2021 to April 2022, $175 billion was sent on-chain to CEXs, well below the $224 billion sent to DEXs.Source https://blog.chainalysis.com/reports/defi-dexs-web3/ |
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This growth in the adoption of lighting network has resulted in an increase in the lighting network capacity from 1000 Bitcoin in a transaction in 2021 to up to 3600 Bitcoin in transactions in the LN, this increase has made many wonders as to how and where the layer 2 networks on the native Bitcoin blockchain network will work to harmonize it balance operation interacting an unchain network with the original Bitcoin network.
It appears that you might have misunderstood network capacity. Similar to much of Ethereum's layer 2 platforms, Lightning's network capacity is also the same to the total value locked in Arbitrum or Optimism. I might be wrong, however, I am quite certain it cannot be 3600 bitcoins in a transaction. In any case, this news is good for bitcoin holders. We should hope that there will be smart contract functionality in Lightning's development roadmap. |
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Username: bbc.reporter
Post count: 9454
BTC address (SegWit): bc1qhxhxmktnmjmpaz837dx4hy0m2ye7veyyln472x
Livecasino.io username: bbcreporter
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It appears everyone is very busy arguing about Kambosos versus Haney and Inoue versus Donaire hehehe. We forgot that this weekend Stephen Fulton will also be fighting Danny Roman. It might not appear to be an important fight, we know Fulton's victory is a certainty, however, every boxing fan should watch it because if Inoue wins, he might move up to super bantamweight and challenge Fulton for the WBC and WBO super bantamweight championships.
Yes, saw that scheduled fight but the odds though. Nevertheless, I don't think that Inoue will go up in weight. Too early for him, and knowing that he is under Bob Arum, I doubt that he will allow his cash cow to immediately jump on the next weight unless he is very sure that he can take Fulton out or any of the champion in that division. So let Fulton battered Roman this weekend, and his chance to win are high because obviously he is the favorite. It does not look too early for the Monster Inoue to move up in weight division and challenge Fulton after what we witnessed versus Donaire yesterday. It also certainly appears that Inuoe has improved since their first fight and will improve more. He is also 29 years old already. That is not very young for the sport of boxing. It is the right time for him to find new challenges in his career. He still has one Filipino on his hit list and that is Casimero, hehehe. This could be a good fight in paper as he is brandish and trash talk Inoue prior. But not sure if Top Rank is willing to give Casimero his fight since he no longer has any belt for now. I move up to fight Fulton is not that bad at all, as you have said, timing is just about right. If Inoue wanted to be recognized as one of the best in this generation then he should look for new challenge and that is going up in weight. Pacquiao proved that already and he sets the bar high that no one can touch what he reach. But others can try to go as high and see their limits. Like in the case of Canelo 175 lbs might be too much for him. But for Inoue, we don't know how far can he go. However, before Inoue can consider Casimero's challenge, I reckon Casimero should first win his WBO bantamweight championship back by challenging Paul Butler. Inoue might be now on a different stage in his career where his next fight will be to challenge the champions of the super bantamweight division or become the undisputed champion in bantamweight. Also, with what Inoue has shown, I speculate he can knockout Casimero within 6.5 rounds. Inoue might become the pound for pound best boxer within 3 years. |
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@Abiky. They can force the people who use the protocol through the front end to KYC, however, there is nothing the SEC can do if more experienced users can interact with the smart contracts directly or if another anonymous development team forks the front end to not force users to KYC. The SEC is powerless in Defi unless they have the ability to order all the different layer 1 blockchain platforms to shut down.
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There are many people who are starting to speculate or have already declared that Defi is dying or it is only a useless medium for transferring scam tokens. I am quite aware if the limitations and the bad implementations of Defi which make those projects a target for hackers and being used for rugpulls as published in this website. https://rekt.news/leaderboard/However, in my opinion these are only part of the difficulties in creating the future of the cryptospace and developing the infrastructure for cryptonative assets. Presently, everything in Defi is created around speculation and yield farming. But this will not be forever, I reckon. In the future, Defi will be built around protocols on privacy, stablecoins, NFTs, gaming and many others. To give an example, a token holder can deposit his tokens in a lending protocol similar to Vesta and borrow some stablecoins, covert them to ETH and buy Axies and join play to earn to generate revenue. |
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