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What Fairspin can do is create a DAO, issue a token, open up a staking rewards, liquidity providing rewards for distribution of the tokens and later revenue sharing from site fees as rewards for locking tokens in the DAO. If everything is estsblished and stable with the DAO, they can begin using some of the tokens as payment for signature campaigns and other marketing campaigns. I reckon being a gambling business in the cryptospace, they can be more creative by using Defi and NFT.
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Sure that makes sense as it will be far more profitable for them but obviously introduces risk. Whose to say if the risk taken is too great vs the liquidity required. Bonds are a future payment of dollars so its not like its wrong exactly but in some cases the bonds wont pay out is possible. If thats all the problem Tether has I dont think its in trouble just yet presuming they werent too leveraged.
We are not talking about what makes sense for them. We are talking about which companies have issued those commerial papers and why would Tether, iFinex not want an audit on those commercial papers? It is already being speculated that those commercial papers are from troubled Chinese real estate developers like Ever Grande. If this is true and correct then USDT has already fractionalized and might not have enough dollar backing to redeem all USDT in circulation. |
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Do Kwon will certainly go to prison for this.
I don't think there is any law against creating shitcoins otherwise there would be thousands of shitcoin creators from ethereum founders to AKIHIKO (that's the shitcoin at the bottom of CMC list LOL) would have been in jail. Basically they created a useless garbage, idiots who refused to listed to the rest of us bought it and they ended up losing money as we predicted. However, after what has occured where there was around $45 billion of value erased, the regulators might find a reason to begin investigating this. It might arguable to say if it was intended to be a scam but Luna can also be charged as a ponzi scheme and regulators will use all the powers they have to put anyone involved in creating this in prison. Do Kwon is also being invited to attend a meeting of South Korea's national assembly for questioning. |
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Also, it is important that you should not be wasteful with the money, bitcoins or stablecoins you have left for investing. The market might be bad for months, years or longer. Be cautious and do the research. Invest in good development teams.
This bear market is very unpredictable and actually there's no stablecoins anymore for me because everything can change on its value and maybe this is the lesson that LUNA gave to us, so better to be cautious always and don't just invest better to invest with a plan and strategy. I still believe on the strategy of cut loss and profit taking, I think everyone should be more consistent with regards to this. Bear market is the best time to accumulate, do it slowly but surely. I agree, however, if you really need to hold a stablecoin for trading in Defi, I would suggest that everyone should use USDC. I reckon that would be the safest if we consider the other worthy choices in the market, which only are DAI and USDT. Also, Circle the company behind USDC has been funded by Blackrock and Fidelity recently in a $400 million funding round. USDC also has enough liquidity in Curve to transfer to other stablecoins or wBTC, wETH. |
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Yeah, I will call it smart play by Davis, Romero can talk shit again after the fight and says that Davis ran because he can't deal with his power. but I think Davis did the right thing here, figuring out Rolly and then countering him when he is going inside. Davis goes as far as comparing this to Marquez KOing the great Pacman.
Davis was surprised by the Romero's aggression, I reckon. Davis also did not appear to be in control for much of the fight which stopped him from his common tactic of forcing his opponent to commit a mistake and find an opportunity for his power left punch. I was very sure my bet for under 6.5 rounds would lose until he found an opportunity to slip Romero's punch to attack with his own left hehehe. It was intelligent boxing, however, was he not lucky? Will he do something similar to King Ryan? |
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I saw a thread suggesting that new coins will bring big profit. This is true, however, these new projects that might bring big profit are harder to find during a bear market. This is not anymore a market where you can buy the most stupid coin similar to memecoins and profit 100x. This time we need to do more research on the project, what it does, the tokenomics, how much coins or tokens are issued and how much are emitted daily, weekly or monthly and the development team, if they are good and if they have enough funds to develop the project all throughout the bear market.
Also, it is important that you should not be wasteful with the money, bitcoins or stablecoins you have left for investing. The market might be bad for months, years or longer. Be cautious and do the research. Invest in good development teams.
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@STT. The problem with Tether, USDT is it is not backed 100% by real American dollars. Much of the USDT issued and presently in circulation is backed by commercial paper. I know there can be an argument that this type of backing is okay, however, Tether is not audited and we cannot be certain if those commercial papers will be good on their promise to pay.
Commercial papers are promissory notes that are issued by companies or banks and they are commonly unsecured loans without collateral.
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I am not quite certain why many investors would go back there and invest in Luna again. It will be something similar to discovering being cheated by your girlfriend, you separate from her and go back to her again despite of the knowledge she cheated on you hehehe.
I mean we investors are not going to be fooled twice by Do Kwon, if we think rationally, yeah we shouldn't reinvest on this project. However, it cannot be underestimated how many projects in the cryptospace survive after a hack, a theft or an emergency fork because of an exploit. In any case, Do Kwon might buy bitcoin for Terra's treasury again. I will lock this if I have confirmation that he will not be buying.
The only difference though is that we are in a bear market, and we have a lot of noise in the background like war and inflation. So now sure how new alt coin projects are going to survived in this scenario unless they are going to used the old but effective tactics "pump and dump" scheme. Agreed. There appears to be cryptofunds that continue to support it, however. There are also centralized exchanges that have listed the token of Luna's fork with the original chain being called Luna Classic. This sounds very familiar heheheheheee. I disagree that many altcoin projects will be pump and dump schemes. They are only good for bull markets where they can make easy money. The bear market is a time for building and a time where only the best development teams will survive and enter the bull market. Will it be Luna? We cannot be certain. |
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@Lucius. I am not comparing Michael Saylor to Do Kwon. Also, it would be unfair to call Do Kwon a real scammer. He never had the intention to steal Luna investors' money, I reckon. He was only very naive.
You must be joking or not realizing what actually happened - that hypocritical narcissistic bastard should end up behind bars for a long time and be banned for life from doing anything related to finance and cryptocurrencies. The idea of his stable coin being backed up with something volatile like Bitcoin was doomed from the start - is this some kind of nuclear physics or people are really too stupid to understand what happened? The damage caused by the one you say is not a real scammer is about $80 billion, and to say that none of it ended up in his pockets is completely naive. However, I was looking at their investment schemes and there might be an argument that what Michael Saylor is doing might also put Microstrategy in an unpredictable situation, similar to Luna, if both equities and the cryptospace markets continue to dump.
Saylor isn't even close to Kwon's category, because unlike him he has far more experience, knows what he's doing and doesn't sell fake stories to naive investors. Of course, anyone who invests in Bitcoin takes a certain risk, but Saylor with his business strategy is not even close to doing such damage to the crypto market. You might be correct, however, before everything and in my own opinion he did not have any plans on scamming Terra Luna's investors when he began the project. There was a sincere effort to create a decentralized, algorithmic stablecoin by Do Kwon and his team. I am not certain, maybe I am giving him too much benefit because I was closely following UST's development, the partnerships and their attempt to join the Curve wars and create the most liquid stablecoin pool in Curve. |
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Did anyone see the face to face? https://www.youtube.com/watch?v=q9B95lTsl0gBoth are throwing insults at each other and it's so hilarious. Davis seems to not take Romero seriously, but we will see what Romero can do to him in the fight. LOL at Romero saying that this is going to be Broner vs Maidana 2 wherein he called Broner the big brother of Davis. And Rolly will be Maidana who totally whopped Broner's ass in that fight.  I predict for this fight to be something very similar to Muhammad Ali versus Ernie Terrell where Ali was telling Terrel in the ring to say my name while boxing him for the whole fight. It also appears that much of the sportsbooks do not want to give odds for rounds range and rounds betting if over or under hehehe. Tank to win with a knockout is the only best offer with odds of only 1.27. In any case, in what round does everyone speculate Tank knocks out Romero? In sixth rounds for me, I would say that this could be one of Davis easiest fight in years. So in the end, he will get the knock out here and it will not get to the judges scorecard. I also don't think that Rolly Romero will be a threat, sure he might be a great fighter in the future. But Davis has faced a lot of champions and knock them out. Romero is not even a champion and his resume is not that good and hasn't face a good and complete boxer in Tank Davis. Agreed. Romero also does not appear to be a highly ranked boxer in his weight division. I am quite certain that he will only be another opponent for the intention of improving Tank Davis' record hehehe. This is what they do in boxing. Create undefeated records to make it appear that they are very good fighters. I am not saying Tank is not a good fighter, however, if you research the records of undefeated boxers, much of their opponents are not very good. In any case, it might appear that 6 rounds is very low but I also agree with you. However, Tank might make it longer than 6 rounds to hurt Romero in the ring hehehe. |
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@bbc.reporter look out for Poliana Botelho and Erin Blanchfield two fighting kitties that I think you will like,
Erin Blanchfield is someone Jake Paul might describe thicc hehehe.  She is presently the favorite against JJ Aldrich, however, she might be very overestimated for this because of her unanimous decision victory vs. Miranda Maverick. JJ Aldrich also has more experience than Blanchfield in the UFC. But seeing him vs Tom Aspinall and how a tad slower he was, dunno...
It might be because Volkov was fighting in Aspinall's home country and it might also be the English mafia told Volkov that they do not want their countryman to lose hehehe. Erin Blanchfield is really Thicc and yeah she is a thing to behold and pretty much a favorite one to win for this event, I think JJ Aldrich just has a slight experience advantage over Erin Blanchfield it will always go down to the fighters style and technique on who's going to win, and in my opinion and this is my hunch, but I really didn't the in-depth for these fighters yet, but Erin Blanchfield, has some advantage for now, I disagree. JJ Aldrich has much more experience in the UFC than slight. She has been fighting there since 2016 with a positive record, Thicc Blanchfield has only 2 fights in the UFC. This would make anyone assume that Aldrich is more than 35 years old, however, she is not. She is 29 years old. Also, Blanchfield is very young, she is only 23 years old. I reckon young fighters in the UFC will need to experience their first UFC loss to develop and improve. This is also a women's MMA fight where the winners and losers are unpredictable hehehe. |
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Meanwhile, the vote on the Terra blockchain hard fork passed the quorum mark, although Do Kwon made changes to the distribution of tokens of the new network after the start of the vote, as he put it "taking into account the opinion of the community", which of course contradicts the principle of decentralization, let's see what they get in the end.  I am not quite certain why many investors would go back there and invest in Luna again. It will be something similar to discovering being cheated by your girlfriend, you separate from her and go back to her again despite of the knowledge she cheated on you hehehe. However, it cannot be underestimated how many projects in the cryptospace survive after a hack, a theft or an emergency fork because of an exploit. In any case, Do Kwon might buy bitcoin for Terra's treasury again. I will lock this if I have confirmation that he will not be buying. |
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@Lucius. I am not comparing Michael Saylor to Do Kwon. Also, it would be unfair to call Do Kwon a real scammer. He never had the intention to steal Luna investors' money, I reckon. He was only very naive.
However, I was looking at their investment schemes and there might be an argument that what Michael Saylor is doing might also put Microstrategy in an unpredictable situation, similar to Luna, if both equities and the cryptospace markets continue to dump.
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Betfury has daily/weekly competitions, and they could use it to encourage users to wager more BFG tokens, although I doubt this decision would be effective. I mean, a lot of users probably will not want to take the risk of wagering on BFG tokens because there is a high probability that all BFG tokens can be lost due to house edge and, as a result, the opportunity to earn daily dividends would be lost as well.
If we look at some of the players here, how many players here they gamble with bfg tokens, if we take a look at them, we will see that there are a lot of posting multiple stories, but from there we can see that Playing with and there was a huge loss. In the beginning I played with my tokens. I went on time but fortunately I lost very little here. Well, gambling is a null end game anyway, so you should be aware of that fact that you will end up losing a ton of money in the long run. I know that there isn't much to discuss about the difference between BFG and any other coin/token that you gamble with. You will always end up losing money in the long run because of the house edge. However, there are benefits of gambling with BFG and that is the difference maker for this casino. Plus, you do not have to only gamble with it, you could stake it and earn money from it as well, and you could earn it for free as well. These all combined makes sure that people prefer BFG here, and that's a good thing for investors of it. Of course, it is worth agreeing that in the long term, gambling still leads to losses, which most players simply consider to be a kind of payment for the pleasure of playing. But I wonder if it is possible to play with the help of BFG tokens in such a way as to remain in a breakeven state. And if staking these tokens compensates for your costs? Or all the same, it must be huge amounts of BFG, which no one really has. Well, of course, if you exclude the BFG whales.  Well the rakeback of BFG tokens is very small and it's just a small percentage of your bets so its impossible to use it cover your loses except on games that has high probability win rate like dice games since it has a settings to increase win rate but still its very hard to recover losses by the rakeback alone. Personally the BFG tokens I'm earning via rakeback is almost negligible if I consider the tokens I loss in the process. Farming it via staking is more profitable rather than earning it through gambling. Rakeback is not supposed to make you cover your losses. If that was the purpose, it would be easier and less complicated for the sportsbook or gambling site to pay you to gamble in the site hehe. Tokens as incentives for using the site are a good way to distribute them for their DAO, however. Also, as a Defi protocol, I reckon it would also be good for the site to implement a locking mechanism for token holders to earn part of the site's revenue from fees collected, paid in which currencies the fees were paid. This appears to be the next trend for Defi where the DAO earns by deploying delta neutral strategies using the assets in their treasury and pay some of the earnings to the stakers. Umami has began doing this. I might write an investment thesis for this for the altcoin subforum. |
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Did anyone see the face to face? https://www.youtube.com/watch?v=q9B95lTsl0gBoth are throwing insults at each other and it's so hilarious. Davis seems to not take Romero seriously, but we will see what Romero can do to him in the fight. LOL at Romero saying that this is going to be Broner vs Maidana 2 wherein he called Broner the big brother of Davis. And Rolly will be Maidana who totally whopped Broner's ass in that fight. I predict for this fight to be something very similar to Muhammad Ali versus Ernie Terrell where Ali was telling Terrel in the ring to say my name while boxing him for the whole fight. It also appears that much of the sportsbooks do not want to give odds for rounds range and rounds betting if over or under hehehe. Tank to win with a knockout is the only best offer with odds of only 1.27. In any case, in what round does everyone speculate Tank knocks out Romero? |
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Agreed, however, you cannot control investors from holding bitcoin in their reserves as their back up also. Something similar can be said of Michael Saylor who has made loans against Microstrategy stock to buy and hold bitcoin in Microstrategy's treasury. He has also borrowed more cash against those bitcoins to buy more bitcoins. Head shaking move and those bitcoins bought this year are in negative pnl. Also, it might not presently be true but Saylor might cause Microstrategy to be in an unpredictable situation if Microstrategy stock and bitcoin dumps tremendously. |
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News update. It appears that George Soros is very much concerned that world war 3 might be very near and another global deperession might begin because of China's zero policy on the pandemic. I reckon that his speech might not be fud, however, I am very skeptical on the sincerity of Soro's concern. I would not be shocked if he is presently one of the biggest market short sellers of bitcoin and other fiat currencies hehehe.  Liberal billionaire George Soros on Tuesday warned of a global depression, and said Russia’s invasion of Ukraine could be looked back on as the starting point of World War III.
“Russia invaded Ukraine. This has shaken Europe to its core,” he told the audience.
“The European Union was established to prevent such a thing from happening. Even when the fighting stops, as it eventually must, the situation will never revert to the status quo ante. Indeed, the Russian invasion may turn out to be the beginning of World War III, and our civilization may not survive it.”
Soros also took aim at Beijing, which is experiencing its worst Covid-19 outbreak since early 2020. Earlier in May, Chinese President Xi Jinping headed a meeting of top leaders that emphasized the country should stick to its “dynamic zero-Covid” policy, and warned that economic consequences would follow if it doesn’t.
“The continuing lockdowns have had disastrous consequences, pushing the Chinese economy into a free fall since March,” Soros said in his speech Tuesday.
“These negative results will continue to gather momentum until Xi reverses course. ... Coming on top of the real estate crisis, the damage will be so great that it will affect the global economy. With the disruption of supply chains, global inflation is liable to turn into global depression,” he said.Source https://www.cnbc.com/2022/05/24/george-soros-says-civilization-may-not-survive-russias-invasion-of-ukraine.html |
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@bbc.reporter look out for Poliana Botelho and Erin Blanchfield two fighting kitties that I think you will like,
Erin Blanchfield is someone Jake Paul might describe thicc hehehe. She is presently the favorite against JJ Aldrich, however, she might be very overestimated for this because of her unanimous decision victory vs. Miranda Maverick. JJ Aldrich also has more experience than Blanchfield in the UFC. But seeing him vs Tom Aspinall and how a tad slower he was, dunno...
It might be because Volkov was fighting in Aspinall's home country and it might also be the English mafia told Volkov that they do not want their countryman to lose hehehe. |
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Devin Haney is in a very combative mood right now. He set himself the ambitious goal of defeating George Kambosos twice. In this case, the fights will take place in Australia (in the homeland of George).
Devin Haney is a great fighter. He is called the second Floyd Mayweather (they have similar fighting styles). Devin Haney dreams of the glory of the legendary boxer and millions of dollars. He is an incredibly ambitious person. Devin is an incredibly talented boxer, and with each fight he progresses, perfecting his fighting style.
This young boxer has a very extensive arsenal of striking techniques. He successfully uses both jabs and uppercuts. He is also incredibly mobile and easily increases the distance with a partner.
In my opinion, he will win the fight with George Kambosos. In any case, a very interesting battle awaits us on June 5!
Is Haney called the second Floyd Mayweather? Haney is still learning the philly shell. I reckon he is not as skilful as Floyd Mayweather with this defensive style. Watch the replay of Haney versus Jorge Linares. Haney was not as quick to avoid the punches when he went into a shell and bended to his right side. Kambosos will certainly see this as an opportunity for his double jab left hook. Also, Haney is still very young and still learning. This unification might be taken very early in his career and in my own opinion, it should be taken later. |
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Bitcointalk Username: bbc.reporter
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