That's certainly true, mate. We could say that CBDCs are nothing more but a "glorified" version of Fiat. With the new digital cash system, governments and banks will have more power than ever. Not only will CBDCs make taxation easier, but they will also allow governments to keep track of your spending habits. Everything will be fully visible in a digital ledger only the aforementioned entities control. This will mark the end of privacy, as paper money is phased out for good.

Luckily, we have decentralized alternatives (cryptocurrencies) that will enable financial freedom without interruptions. As long as the community keeps crypto/Blockchain tech decentralized, there should be nothing to worry about. Who knows if CBDCs get to live alongside crypto for generations? Just my thoughts

I guess people don't care about their privacy anymore because they have nothing to hide. But you can bet that once governments tighten their surveillance efforts, privacy-oriented cryptocurrencies will become a necessity to everyday people. Centralized exchanges may de-list such coins, but it will always be possible to trade them through other means. I'd envision a future where privacy coins will become the minority, as VCs and other investors pour money into ordinary cryptocurrency projects. I'm fine with that as long as people have a choice. With decentralization put at the forefront of most privacy coins, I believe they will last a lifetime. Just my thoughts

A "De-Fi" platform complying with KYC/AML laws would no longer be decentralized. That's because a third party would be required to collect all of your personally-identifiable information to share it with the government. Besides, KYC will defeat crypto/Blockchain tech's intended purpose (which is banking for the unbanked). If we want decentralized finance to work, KYC must be out of the system for good. Hacks, theft, and other undesired situations will always happen especially when there are millions (if not, billions) of dollars on the line.

It's up to you to inspect the code in order to determine if the "De-Fi" platform's smart contract is as secure and reliable as it claims to be. That is if you have CS knowledge or are a security expert. Developers can easily send their smart contracts for auditing if they're interested in attracting the masses to their project. The whole space is just starting to blossom, so I'd say we should give "De-Fi" more time to mature enough for mainstream use. Just my opinion

Only if regulations are flexible enough for crypto/Blockchain tech to flourish in the mainstream world. Too much regulations are bad for crypto in every sense. The same can be said if there were no regulations at all (which will enable anarchy in the crypto/Blockchain space). There needs to be a balance in order to prevent growth from stalling altogether. It seems like governments worldwide are embracing the revolution, so it's likely crypto will be here to stay for a very long time. As long as crypto's legitimate use cases are expanded, there should be nothing to worry about. Just my thoughts

Maybe the TDR is an "exit scam" by Justin Sun himself. I'd be surprised if he decides to run away with the money. We'd have to carefully inspect the smart contract's code to see if it gives TRX's founder the ability to do that. A fraudulent stablecoin will be a major blow to the crypto industry (just like what happened with Terra/LUNA/UST lately). With how unstable algorithmic "stablecoins" have proven to be, people will only trust stablecoins with real USD reserves and those that are truly collaterized like DAI. Let's see how everything will play out in the long run.



Maker's done a good job in helping DAI maintain the peg after all these years. Even after the recent market turmoil (caused by the collapse of Terra/LUNA/UST), the decentralized stablecoin's dollar value hasn't moved an inch. If only other decentralized stablecoins copied DAI's model, things would've been much better in the crypto/Blockchain space. Scandals like the UST crash gives crypto a bad reputation among people in the mainstream world. USDD already failed, so there's nowhere else to look for except to choose an alternative that lives up to its claims. Just my opinion

I can see that. Still, the idea of storing a virtual representation of a physical coin on the Blockchain is pretty neat. If major grading companies get into the game, the numismatics industry will never be the same. I can envision a marketplace similar to OpenSea for graded coins and banknotes. NFTs are still a new trend, so we're going to have to wait a couple of years before they mature enough for mainstream use.



Of course. One should assume Bitcoin-related collectibles to be tied to the Bitcoin blockchain itself. Using another blockchain wouldn't make sense. Fortunately, there is a smart contract platform built on top of BTC (acts like a sidechain). RSK (although not a very popular smart contract platform like Ethereum or BNB) has the capability to bring the world of NFTs right into Bitcoin itself. It'll be up to grading companies and/or the community to publish graded coins and banknotes as NFTs on the RSK sidechain. NFTs are just starting to blossom, so this may be the perfect time to help "kickstart" the numismatics industry on the Blockchain.

49 - Abiky

Thank you! 

#40 - Abiky

Thank you for this awesome raffle! 

It's stupid to sell BTC at a loss. A smart investor will "hodl" the BTC until prices rise back up again. If people think that BTC going down in price is the end of the world, then they truly don't understand what the cryptocurrency is all about. It's not really about the price, but rather BTC's underlying technology to change our world for the better. Bitcoin is just like the Internet which is truly unstoppable. Market prices wouldn't be much of an issue if Bitcoin was used as the standard unit of account. This means pricing goods and services in Bitcoin terms (not Fiat). Bitcoin by itself, is as stable and sound as you can imagine.

Ultimately, we'll be the ones laughing at the end as BTC soars towards new All-time-highs. Just buy the dip and don't sell no matter what.

With a proper regulatory environment, it may be possible to diminish (not eradicate) the number of scams in the crypto/Blockchain space. As you've said before, the community is always active seeking out scams in order to prevent newbies from falling right into the trap. Without regulations, crypto will be the wild west. There needs to be law and order for crypto to flourish in the mainstream world. But I have to say that too much regulations will stifle the growth of the entire industry. As long as individuals and governments cooperate, there should be nothing to worry about. Just my opinion

#12 for me, please. Thanks, MrCryptHodl! 

Of course. If market prices are too low, then you can bet miners will leave the network faster than you can imagine. Only a high-valued BTC, will sustain miners' operations for the long haul. With Bitcoin's past performance, it's likely it'll have a much higher price by the time all of the coins are mined. If that happens, miners will still be able to live off solely on network fees. No one can predict the future, so we can only hope for the best. At least, we don't need to worry about miners leaving the Blockchain during our lifetimes. Just my thoughts

I'm not sure if this has been done before, but wouldn't it be great to prove ownership of graded coins on the Blockchain as an NFT? Grading companies like ANACS, PCGS, or even ICG could transfer you a unique NFT that would make reference to a physical coin. The NFT would be an image of the coin in a slab, but tied to a specific blockchain address proving that you're the sole owner of it. To transfer ownership, one would simply send the virtually-graded coin to another person across the Blockchain. If grading companies don't do it, then I will take the step forward by turning my graded coins as NFTs just to have an immutable proof of ownership.

Do you think this is a good idea? If not, why? Your input will be greatly appreciated. Thank you.

Can someone explain to me why TRON's overcollaterized stablecoin lost its peg a few days ago? It's not exactly an algorithmic stablecoin like UST was, so this wasn't supposed to happen. With TRON DAO having a huge allocation of coins in its reserve, the peg should've been restored by now. Does this mean collaterized stablecoins will have the same fate as algorithmic ones? If that's so, then DAI will be the next one on the list to lose it peg.

Thoughts?

Isn't decentralized finance ("De-Fi") about being a trustless system anyone can use worldwide? There's really no need to trust a "De-Fi" platform other than verifying its code and transactions performed on the Blockchain. Remember: "Don't trust, verify". "De-Fi" apps are often hacked due to bugs or vulnerabilities in the code. Sometimes developers are careless to fix such issues, leaving the door open for hackers to siphon as much tokens from the system as possible.

In order to prevent terrible losses, smart contracts should be audited before launching them to public blockchain networks. A well-audited "De-Fi" platform is less likely to be hacked than one that isn't. Nothing is guaranteed to be 100% secure, so it's advised to proceed with caution just in case. Just my thoughts

That's because people don't take their time to research all about crypto. Instead, they make their decisions based on pure greed or someone else's opinion. Governments know this so they will keep pushing false propaganda and misinformation in order to drive as many people into their new creation (CDBCs) as possible. Only smart people will use decentralized cryptocurrencies over CBDCs in order to experience true financial freedom. While stablecoins are nearly-identical to CBDCs, they often come with risks. The issuing company can either run away with the money, or even face bankruptcy, putting stablecoins' holders at risk. The same cannot be said about a CBDC because it has the full backing of the government and the central bank.

For this and many other reasons, I think CBDCs will render stablecoins obsolete. There's no need to worry about this since crypto is all about decentralization. As long as decentralization wins, nothing else matters. Just my opinion

Exactly. But people were too greedy to ignore the facts. As long as money talks, nothing else matters. It's unfortunate how Terra/LUNA's events led to a mistrust in crypto/Blockchain tech. Investors got scared after the so-called "stablecoin" lost its peg in an instant. It's going to take quite a while before confidence/trust is restored into the crypto market as a whole.

With what happened with Terra, and now Celsius, prices for major cryptocurrencies will decline like crazy. I don't think the new iteration of Terra (Terra 2.0) will be a success because the team failed to meet with the community's demands. How would you expect a cryptocurrency project to survive if it lacks community support? May the current bear market serve as a cleansing period to wipe out the bad projects for good. Who knows what the future holds for the entire crypto/Blockchain industry? Just my thoughts

You can easily get flagged when trading privacy coins at an exchange. That's because governments quickly link the use of such coins to illegal activities including (but not limited to): money laundering and tax evasion. We should expect more exchanges to de-list Monero and other privacy coins as KYC/AML regulations are enforced.

As I've said before, the only way to get access to privacy coins would be through decentralized exchanges or in-person. Things would've been much worse for privacy coins if they were centralized. Decentralization must prevail for privacy coins to survive. As long as decentralization wins, governments will have a hard time trying to destroy privacy coins in their entirety. Who knows what the future holds for our privacy and anonymity as a whole? Just my opinion

You're right about that. CBDCs are just the same as any ordinary Fiat currency except for the fact that they're completely digitized. A digital cash system would bring lots of benefits to both governments and central banks alike. For instance, it'll be possible to track and trace every transaction performed on the government-controlled ledger (something that's not possible with paper money today). This will mark the end of privacy for good.

At least, decentralized cryptocurrencies will be there to save the day. CBDCs will never kill crypto because the latter is decentralized and censorship-resistant. Of course, people will use CBDCs because they don't have any other choice. But decentralized cryptocurrencies won't lose traction no matter how hard governments try to destroy them. As long as decentralization is put at the forefront of crypto/Blockchain tech, we'll have nothing to worry about. Just my thoughts

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