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In the west that is USA and UK, the governments there are paranoid and banning Huawei from installing their communication equipment there because of a conspiracy theory they have of Huawei snooping/spying on UK and USA intel via hidden backdoor programs on Huawei's devices.
I most likely agree China wont shoot themselves in the foot by doing anything dodgy with bitcoin as that will slow them in this tech race to no. 1 tech superpower in the world. I see China being self-sustainable without relying on income from the west and for this to happen they cant shoot themselves in the foot I agree.
Most likely China will land the 1st man on planet Mars by 2030 and declare no.1 tech superpower in the world.
Yeah its a tech race and the the country with the best tech will be no.1 in the world and Bitcoin contributes towards that race.
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The only correct question I would ask anyone who wonders if stablecoins are something trustworthy is to ask themselves if they believe in what actually back them. Often this is actually one big nothing, and digital printing of stablecoin is actually equal to printing fiat money which has reached incredible proportions these days. But there is one very important difference between having $100 in your wallet and the same amount in stablecoin - this digital version of the coin can be frozen at any time, even if you keep it in a non-custodial wallet. I will say without a doubt that stablecoins are something far more dangerous than fiat and any cryptocurrency - but most people are not really aware of it at all. @mk4 made a good review on this topic -> Most Stablecoins Can Be Frozen, Even in Your Own WalletsI see in that link you provided that Dai cant be frozen. Is this still the case and can you confirm Dai is decentralized? |
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Isn't DAI stablecoin decentralized?
Yes, but why would that change anything I said? DAI is 100% collaterized by other assets, including centralized ones (USDT, even though it's just a little). And most coins would crash with it, so chances are that DAI would probably become partialy insolvent. Okay you say USDC is the most trustworthy?
IMO, yes. USDC, GUSD and PAX (not in this particularly order). Lastly can central banks digital currencies CBDC's make stablecoins obsolete?
I doubt. Can you put a central bank CBDC on the ETH blockchain? They could code it to make their CBDC compatible with the ETH blockchain, possible? Otherwise we will have 2 systems running in parallel that is decentralised crypto like btc, eth and government/central bank CBDC's and governments want their system for everyone and declare war on our current decentralized system. |
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How can China take over bitcoin network? It is not just possible in any way. China miners dominate on bitcoin mining, but not in a way they will take over the network, the domination is reducing drastically as their government is becoming hostile to bitcoin mining a little. In 2019, China mine 75% of bitcoin, in 2020 China mine 65% of bitcoin, can you see how the mining by miners in China are reducing drastically. And even with this, how can they control bitcoin network, it is not possible while bitcoin they mine are mostly sold out of China.
Okay if the trend continues to below 50% then that is a good sign for btc. Selling btc out of china has nothing to do with the btc network. For example I can buy and have all the bitcoins in circulation now in the world with no effect on the btc network whatsoever. Miners do.
China controls over 50% of the btc hashrate meaning they can do a 51% attack on the bitcoin network or control which btc transactions are valid according to their liking correct?
I believe a bulk of the mining hashrate is as a result of mining pools; miners from all over the world concentrate their computing power to a single server to increase the chances of them getting the next block collectively. This does not mean the hashrate is controlled by China, miners can easily switch to pools from other nations. Finally if the Chinese government/central bank dont have bitcoins in their treasuries and release their digital chinese currency CBDC then from there what guarantees can be made to long term btc investors that the chinese regime wont raid btc mining pools in China or torturing/threatening mining pool owners into handing over the hashrate control to them or force mining pool owners to get together together into 1 big mining pool company owned by the chinese authorities?
As I said, the pools are not controlled so miners can as easily switch and reduce the hashrate to those pools. China has been restrictive to bitcoin adoption for a couple of years now, it's unlikely they will get to manipulate the network as consensus rule can be used to render certain chains invalid. Okay so you saying miners can simply change their pool to another country by simply changing the settings in the mining software/interface and that will cause china to lose some hashrate? Do the miners have to do this before a potential takeover by the chinese state or can it be done afterwards or too late by then?
More important than the fact that the majority of mining takes place in China is the fact that the majority of ASIC devices are manufactured by one company: BITMAIN, which is a Chinese company.
The restrictions on BTC in China are not necessarily because China doesn't see any benefit in BTC business, buy because the government wants to suppress any attempt to access the free Internet. If a monopoly like BITMAIN is operating in China they will be more interested in controlling as much of the company's activities as possible rather than restricting BTC as a whole.
Dont the chinese state see any taxable benefits in the btc business? China can pass any law without the chinese people approval. They cant ban bitcoin but they can bitcoin mining in China if they want and if they do that how secure will the btc network be with half of its hashrate wiped off overnight? Can the btc network auto adjust quickly to any quick change in mining circumstances before any attacks to it? Whats bitcoin got to do with free internet? Bitcoin is a currency not a website where the chinese state can restrict access to sites like facebook, youtube etc. [moderator's note: consecutive posts merged] |
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Well yeah if its not fully backed then a stablecoin could drop to zero.
Most cexes have been pushing its usage so much that they'll probably cover it imo if it falls. (coinbase have been pushing usdc but I think binance would be able to cover it and return the $ equivelant). .
I'd trust dai or usdc at the moment if I had to pick. I haven't seen much that's fully insured much though atm and maybe someone ought to make one and run it like an insurance firm.
Okay then, centralised exchanges are the owners of these stablecoins, like Bitfinex owns USDT and Coinbase owns USDC? So if a stablecoin fails then the exchange that issued their stablecoin should fail and collapse too correct? I see Gemini issued their stablecoin GUSD. So are we looking at all exchanges issuing their stablecoins and the exchange could break down collapse if their stablecoin fails like a double risk right?
- Is it possible for a stablecoin to crash to 0?
Everything is possible. - Will centralised exchanges start delisting USDT in light of this news?
They will most likely do that and freeze withdrawals (and maybe trades). - What will happen to all of the USDT tokens in the millions of user wallets, become worthless?
What happens if you own something that is now worthless? - Will all decentralised projects smart contracts that used USDT in them be automatically cancelled/void?
No. But some of them may collapse. And many people will most likely get burned in the process. Quite a few DeFis (e.g lending dapps like AAVE and Compound) let you use USDT and other stablecoins as collateral for borrowing other coins/stablecoins. For beginners the word Stablecoin sound stable 'no risks'.
Stable only means its price isn't varying constantly. What happens if everyone finds out that your dollars aren't actually worth any dollar?
I'd trust dai or usdc at the moment if I had to pick.
DAI is also partially backed by USDT and multiple coins (which would most likely drop hard if Tether is confirmed a fraud). Good luck with that. At least USDC is backed by Coinbase and chances are that they (may) give you 1:1 on your USDC even if the ecossystem collapses. Isn't DAI stablecoin decentralized? Okay you say USDC is the most trustworthy? Lastly can central banks digital currencies CBDC's make stablecoins obsolete? [moderator's note: consecutive posts merged] |
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Lets say for example that the auditors/regulators has found that USDT Tether has printed tokens out of thin air that are not backed by the fiat $dollars, from there what will happen to USDT on the basis of this news?:
- Is it possible for a stablecoin to crash to 0?
- Will centralised exchanges start delisting USDT in light of this news?
- What will happen to all of the USDT tokens in the millions of user wallets, become worthless?
- Will all decentralised projects smart contracts that used USDT in them be automatically cancelled/void?
For beginners the word Stablecoin sound stable 'no risks'.
What's the best decentralized stablecoin out there where you can earn interest on or stake it?
Otherwise which centralized stablecoin is backed by FDIC or SIPC protection policies?
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Most btc mining is done in China because electricity is cheap there and all mining hardware originates from there also right?
China controls over 50% of the btc hashrate meaning they can do a 51% attack on the bitcoin network or control which btc transactions are valid according to their liking correct?
Has the chinese government or chinese central bank added bitcoins to their treasury reserves apart from the tons of gold they have been buying recently?
If the chinese govenment/central bank has bitcoins in its treasury then there is no incentive for them to raid and take control of the mining pools in china otherwise they be shooting themselves in the foot right because they be crashing the price value of their btc treasury reserves correct?
Do you think electricity will get more expensive in China and by when? Higher electricity costs should encourage mining out of China to other countries so the mining becomes more decentralized.
Finally if the Chinese government/central bank dont have bitcoins in their treasuries and release their digital chinese currency CBDC then from there what guarantees can be made to long term btc investors that the chinese regime wont raid btc mining pools in China or torturing/threatening mining pool owners into handing over the hashrate control to them or force mining pool owners to get together together into 1 big mining pool company owned by the chinese authorities?
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There are lot of defi platforms but almost all of them wash their hands of with 'vulnerable to smart contract hacks/risks', so there isn't really anything that is risk free.
Okay I thought De-Fi was like peer 2 peer networks or like torrents where there's no centralised point on the map to hack or target. So you saying the smart contract part of de-fi is exposed to hacks? How can a de-fi coin get hacked or targeted? Xrp Ripple for example is centralised where the SEC can easily target them like they did. Please explain. The centralized party is replaced with smart contracts in defi, and those smart contracts are codes which are not perfect, they can get hacked, wallets can get drained. Okay when do you think smart contracts will mature and be used everywhere after the coding gets better or after debugging smart contracts?
there are some exchange where you can lend your token to bitcoin, from other traders, or stake your coin, these are some of the ways to earn passive income, although it's not that big, why not try ico, and ido investments, which are currently the craze there is a risk, of course, all investment have risk, but if you want income to choose the best one, try ethereum staking for example and others.
Do you mean lent my alts for bitcoin collateral? I know the ico craze back in 2017 but whats a ido? Love to stake Eth but cant afford to buy 32 Eth which is required for staking  Okay which exchanges you speak of, do you mean decentralized exchanges?
you need to take some thing into consideration:
1 - cryptocurrencies are very volatile, just as they increase a lot in price, they can also fall a lot in price.
2 - in the particular case of altcoins that in most cases their owners are not anonymous the risk becomes very great
by this I want to tell you that it is better that you buy and hold and set a price target that you want to sell
example:
bitcoin purchases for $47,000 and decisions you will sell when the price reaches $70,000
you will have control of your investment.
Yeah crypto is volatile and obviously the next bear market cycle will come that will last a few years. For All Time High buyers that bought crypto at the top price and soon after experience a follow up crash that crashes into that new bear market cycle, these ATH buyers have 2 options: - Sell their crypto at a loss. - Or HODL their crypto and putting their crypto to work by getting Passive Income on it during the bear cycle and thus making more money at the next new bull cycle if they sell at that. So I'm hoping this thread can help crypto bag holders with their decision. However risk losing all your crypto with a counterparty is much worse than selling all your crypto at a 80% loss  Surely there must a proven reliable de-fi or a true decentralised service with no risk where bag holders can get passive income on their crypto. Theres 6000 coins in the crypto space, surely there's must be at least 1 offering such service  [moderator's note: consecutive posts merged] |
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These coins: - Stox - Guppy - Humaniq - Revolution VR - Blox - SONM - Nexus - Monetha - All sports - DigitalNote - Gulden - Quantum Resistant Ledger - Ubiq - Gamecredits - LBRY Credits Within the last few years has any of these coins been swapped to a newer chain version or have been hard forked or has been known for a scam |
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Can any publicly traded company dilute their shares?
For example if I offered a million shares on my IPO date, then a year later I can offer another million shares on top so I diluted share count to 2 million shares? What's the SEC regulations when it comes to offering shares?
With that example above if I diluted shares to 2 million then that should fundamentally crash the stock price by 50% right?
Just to confirm most companies start diluting their shares when share price are at high prices right?
Does the SEC allow shares to be diluted and also allow fractional shares at the same time?
How many shares did Amazon originally offered on its IPO date?
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There are lot of defi platforms but almost all of them wash their hands of with 'vulnerable to smart contract hacks/risks', so there isn't really anything that is risk free.
Okay I thought De-Fi was like peer 2 peer networks or like torrents where there's no centralised point on the map to hack or target. So you saying the smart contract part of de-fi is exposed to hacks? How can a de-fi coin get hacked or targeted? Xrp Ripple for example is centralised where the SEC can easily target them like they did. Please explain. |
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Okay what bout Crypto.com De-Fi wallet I see on their site, any good?
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Still don't understand how the big players getting huge amounts of bitcoins nowadays when there is suppose to be a btc supply liquidity crisis on exchanges now Okay there's brand new 900 bitcoins mined everyday so that's 6300 bitcoins available to buy per week if miners are not hodling. Yet some rich dude named Elon Musk managed to buy around 39,500 bitcoins in a day. Whos supplying the volume? Big whales who hodl btc for 10+ years who bought tens of thousands of btc for pennies back in 2010? |
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Expect more FUDS so the rich dudes can get in cheaper and hop on the btc train  I'm guessing we will get Tether FUD once BTC reaches 50k or 70k to correct it down to 40k again. |
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Soon you can pay for your new Tesla car with your Bitcoin  Imagine there's this new tech where charging electric cars and bitcoin mining can be connected somehow to make it more efficient I say May sound crazy but possible? |
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I'm just gonna say it right from that start I'm not recommending this website but it has been featured in articles in both Forbes and Reuters and the company name is BitBond which its main service is to be a lending platform for both lenders and lendee where the lender of the money will also earn a certain percentage from each transaction they do. BitBond I think has gained a lot of reputation especially since even small and medium enterprises are also using their platform to earn money or just rather skip the hassles of loaning money from traditional banks as it was originally intended to do so. And IMO not unless you have a substantial amount of capital (maybe in the hundreds of thousands) I don't think you can rely on the passive income you will be earning from these interest bearing platforms, It may depend on your risk tolerance but for people who wants to maximize their limited capital buying cryptocurrencies is the most rewarding way to go. Do you mean BlockFi? |
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Instead of Fighting, it looks like they are Teaming up  Elon Musk helped Bitcoin break that 42k resistance earlier, helped bitcoin to continue its bull run. Looks like Elon Musk is using his shareholders capital to buy Btc  So in reality it looks like Tesla Shareholders are indirectly buying Bitcoin If Elon Musk takes the Michael Saylor approach that is put his recently purchased bitcoins into the Tesla treasury then that will bring confidence to Tesla shareholders if the dollar crashes so that will only attract more Tesla investors pushing TSLA share price even more higher! So a clever move by Elon I say. |
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Okay to confirm there's no risk getting rewards through the ledger live app as I still have control over my keys? Beginner question: what is a Validator and how does a validator misbehaves and is this misbehaving a risk to my coins on my ledger hardware wallet? Great, Binance US is FDIC insured but its only insured for crypto deposits deposited into their wallets not for interest/savings rewards programs right?
This is what I've also thought of. You hold your keys and you earn from staking. You can also do your own research for other wallets that are offering the same. I think there are many of them. Okay Staking means you have control over your keys on your crypto and still get rewards like interest? Stupid question but POW coins like bitcoin cant be staked but only POS coins and which POS altcoins in the top 200 coinmarketcap ranking allow staking? Lastly can anyone stake or do you have to become a Validator first to stake? Finally does the Validator is required to put up collateral 1st?
Basically what you're looking is PoS-based cryptocurrency, currently the most popular option is ETH where you become validator (if you decide to stake 32 ETH) or use 3rd party who will stake with coin of multiple user (if you decide to stake less than 32 ETH). See https://ethereum.org/en/eth2/staking/ and https://launchpad.ethereum.org/ if you're interested. While the risk is smaller, the risk is still exist since tou need to choose other validator and trust them not to misbehave. What benefits/rewards can only a Validator get over normal staking by any crypto bag holder? When you say use 3rd party to stake then there's that counterparty risk as 3rd party will control the keys? I like to know how does a Validator misbehave, is it like committing fraud so Validator benefits more?
It’s hard for me to understand that people still think they have to invest their Bitcoin to make some profit, and at the same time they can make the same just by holding coins in their non-custodial wallets. Just a few months ago the price of 1 BTC was around $10 000 (now it is almost 4 times more), and a little less than a year ago the price dropped below $5000 which is almost 8 times less than now. Isn't that more than a great passive income without the risk of someone else owning your private keys?
For example I see ads everywhere like deposit your Bitcoins into so called platforms and earn up to 10% interest. For example if someone has 10 bitcoins worth $400k now and deposited their bitcoins into this service for $40k a year on interest return. Sounds great however what if the platform gets hacked or platform freeze your account or platform goes bankrupt or whatever counterparty risk it is, the depositor will lose their 10 bitcoins correct?
It's a risk you have to take if you want to invest that way - haven't you learned anything from the Mt.Gox example? Specifically as far as your example is concerned, do you think at this point that it would be wise to risk 10 BTC worth around $400 000 to earn only $40 000 after a year - and at the same time those 10 BTC can very easily increase their value by at least 100%? Yes I totally agree! The Risk to Reward Ratio that is for example $40,000 annual yield return for $400,000 deposit is too high risk unless of course its covered by Government FDIC or SPIC right?
You can do staking if you want, as long the coin or token is legit and not some kind of hype projects that would rug pull later on. Some tokens that are worth staking are ETH (if you can provide 32 ETH for launching the 2.0), NWC, IRIS, CORX, etc. You might not want to end up in those “guaranteed profits” opportunity like “Turning your 1 ETH into 30 ETH in 30 days” or so.
But the safest way is to buy and HODL until you are satisfied with the profits on whatever cryptocurrency you are holding.
Why with all this De-Fi hype we going through now (Decentralised Finance)? I thought Decentralised Finance is suppose to eliminate these such risks mentioned on this thread because its decentralised right? Is there no De-Fi projects or Dapps out right now or will be released soon that offer such services at no risk? Otherwise what's up with all this De-Fi hype [moderator's note: consecutive posts merged] |
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Like for example earn interest on my crypto or loan it out or what other ways are there that I don't know yet? These services above that I mentioned, is there a decentralised service, where I still control the keys and also there is no 3rd party/middle man/counterparty risk? For example I see ads everywhere like deposit your Bitcoins into so called platforms and earn up to 10% interest. For example if someone has 10 bitcoins worth $400k now and deposited their bitcoins into this service for $40k a year on interest return. Sounds great however what if the platform gets hacked or platform freeze your account or platform goes bankrupt or whatever counterparty risk it is, the depositor will lose their 10 bitcoins correct? What's the best decentralised services out there? Lastly can a hardware wallet like ledger nano offer such services through their ledger live app and you still have control of your keys on your crypto right? Otherwise who's crazy enough to take huge risks to sign up for these such services? If there's no decentralised service exists yet, when will we get such decentralised services? Finally in the meantime if there's no option except for centralized services then which one is the best on the market now and also are they covered by FDIC or SPIC programs? |
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Okay I can compare and see the overall total Crypto Market Cap between the last one and this current one. The last one the total crypto market cap including alts, did not make a higher high from its ATH peak back in Jan 2018. Now I see we are making a higher high and making new ATH's now in total market cap including alts. Questions are: - These new ATH's crypto market cap we having now is caused by Alts or Bitcoin? - If the Alts are having their bull cycle now then at the same time can btc break its 42k ATH resistance? - If btc cant break its 42k resistance in this current alt bull cycle then will the money flow back into btc when alt bull cycle is finished? - What if btc gets rejected at 42k resistance while alts are having their bull cycle, will this turn alts from bullish into bearish?
Okay now were not far off 42k resistance. If it breaks that then that confirms we are in early stages of a bull market.
Okay Early Stages Bull Market confirmed if it is not a Fakeout [moderator's note: consecutive posts merged] |
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