Joe wants to buy a new car. He has bitcoin, but of course, he does not want to give up his $50,000 bitcoins expecting them to be worth $100,000 next year. Spending deflationary currency comes with it's own expensive repercussions, as anyone who as ever spent cryptocurrencies can attest. So Joe pawns (gets a loan on) some bitcoins. The bitcoins are locked into a smart contract. The bank advances Joe $50,000 on two $50,000 bitcoins. Joe pays back $1000 a month worth of stablecoins, and when he pays back the $50,000 his bitcoins come back to him, probably worth $250,000 by then. If he fails to make a payment, the bank gets his coins. There is a great incentive for Joe to pay, and essentially no risk to the bank. The bank can charge some nominal interest for an easy profit that in the end costs them essentially nothing.
Expecting this to be the case is unrealistic. For one, the volatility of bitcoin makes the risk of borrowing against it extremely high. If the price falls steeply, you'll be required to put up more collateral or your coins will be liquidated. And we've all seen how frequently bitcoin undergoes steep drops. Also, to compensate the risk, the interest rate you pay is likely not going to be competitive with fiat loans. And lastly, expecting bitcoin to only go up in the long run enough to profit off borrowing against the value is a foolish expectation. There's never been an asset in the history of the world with such properties; it breaks the laws of economics. In short, this scenario acts like there's no risk, and it couldn't be further from the case. |
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meh, chainanalysis is a hot heap of garbage. Their website says : "Building Trust in Blockchain". Blockchain/Bitcoin solves the 3rd party Trust problem, ironic no? Seems like they want big gov contracts to me. They just got 100 million in financing. I dont like Binance but I like chainanalysis even less.
Just because the blockchain is public doesn't mean it's transparent. Have you ever tried to to trace bitcoin to see where it originates from? It's impossible. Chainanalysis offers services that do that, which is going to be ever more important as crypto becomes more mainstream and you have to verify that you as a business are not unwittingly abetting money laundering by dealing in crypto. If this investigation is true, I believe, Binance is already doing their job to defend themselves in case this situation goes to another level. Also, I think, most of crypto-exchanges are guilty of receiving some illegal crypto coins at one point as it is indeed hard to trace where coins are coming from, especially those that don't require KYC for certain levels. If they will investigate Binance, they should investigate all the other crypto exchanges as well. Binance may be at the hot seat as they are the number 1 exchange and earning very good amount of money. If an exchange doesn't do KYC, it ought to be shut down. If an exchange facilitates tax evasion, it ought to be shut down. I don't know if Binance is doing either, I suppose that's what the investigation is about. However where there's smoke there's usually fire. This isn't some wild fishing expedition. The investigators probably have a pretty good idea of what they're going to find, which is the genesis of the investigation. |
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Market has shake weak hands like Elon out of the system, now the market seem clean from bad energy for a healthy growth, the market was suffering from toxic energy which needs to be thrown out, soon market will gradually recover back to normalcy, even now we can already see some signs.
Lol, the price of bitcoin has nothing to do with Elon being in or out of bitcoin. The guy is the second richest person in the world; imagine thinking he has "weak hands" as if the price of bitcoin actually impacts his life at all. |
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Anyone who was traumatized by the lockdown is being overly dramatic. And if you're "traumatized" by that more than millions of people dying from the pandemic then your priorities are off. The governments should have compensated people more for being in lockdown to ease the financial burdens, but that in no way excuses the conservative opposition to the actions needed to get the virus under control and stop transmission and mutation that's going to prolong the pandemic and kill millions of more people.
The conservatives were also responsible for some extent, but it will be wrong to put all the blame on one section of the society. When the pandemic was first reported in China, the WHO initially claimed that human-to-human transition is not possible and there is no need to suspend air travel from China. If the air travel was suspended immediately, then in all probability the pandemic would have got contained in a matter of months. The country that got affected after China was Italy, where travelers from China were responsible for the spread of COVID 19. This is definitely false since we now know that the virus was being transmitted in other parts of the world, specifically Europe, before they even understood what it was in China. There was literally nothing that could have been done to stop the spread of the virus. We also know now that it was spreading in America long before the reported "first case." |
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People have often compared crypto to stocks since owning a coin, represents your "share" of the decentralized blockchain network. Exchanges act as brokers in a similar fashion to traditional stocks. While stocks are fiercely regulated, crypto is the "wild west". Cryptocurrencies are extremely volatile, while stocks are much more stable. Despite crypto/Blockchain tech's popularity, stocks are still preferred by mainstream investors and traders alike. Which asset types do you think are better: crypto or stocks? Is crypto getting closer to becoming regulated just like stocks? What do you think will happen if institutional investors come into play? Will stocks transition themselves to the Blockchain? Or is it still too early to tell? Your input will be greatly appreciated. Thank you.  I think stocks and crypto both have an advantage for their holders. if you buy shares we will get a very thin profit and loss rate, on the other hand crypto gives us the opportunity to get a very large profit, but we can also get a very large loss. people who want to invest in cryptocurrencies should learn about the cryptocurrencies to invest in because if we choose the wrong one, we will get a big loss. we must look for crypto currency that has the potential so that we can benefit in the future. if I am told to choose then I will choose both because they both benefit me. We'll you're right that in both bitcoin and stocks, generally the best thing you could have done is buy and hold. The more you're trading in and out of either, the more likely you are to miss the general upward trajectory of both. In short, the more you trade the less efficient you're being. |
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So Elon has clarified that Tesla hasn't sold any Bitcoin. And I don't think that Tesla has purchased any new coins either, given his earlier tweets. So there is no evidence to claim that Elon actually profited from the market manipulation of Bitcoin. This guy is making his moves in a planned manner, and right now it is impossible for the SEC to touch him. Remember that Elon is the same guy who once tweeted that Tesla shares are overpriced, and that resulted in a crash in Tesla prices.
This is the thing... in order to "punish" him for manipulating the markets you have to prove he profited off the manipulation or manipulated to benefit those close to him. It's an almost impossible standard, made even harder by the fact that he's a troll and an asshole who shoots his mouth off about all sorts of things. The morale of the story is you shouldn't be doing anything Elon says because he's a total basketcase. |
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You're trading off either way. You pay less for the Camry upfront, you pay much more over the life of the car. Tesla's have lower maintenance cost because there are no oil changes and less costs for all the "under the hood" maintenance. And the Camry may have 2x the range on one fueling, but it also has 2x-3x the cost of travel as well based on the fuel source. So you take give and you take.
You are forgetting one thing. Tesla cars are pretty much irreparable after an accident and even if it was, only the Tesla authorized repair shops are allowed to do so. The thing that Tesla doesn't tell you when buying the vehicle is that it can only be repaired by a Tesla authorized repair shop. Tesla does not sell parts to the public (ie, other non-authorized Tesla repair shops). I did not know this until I was notified by both my insurance and my mechanic. While you can get your Toyota's maintenance from any third party for cheap. It is not as practical as a gas-powered car and the range on EV's suck. Not really relevant to an assessment of operating cost since being in an accident isn't routine and part of the normal cost of owning a car. If you get in a lot of accidents, yeah, it's an obvious down side. If you get in a lot of accidents, you're also probably not the type of driver who buys anything other than total garbage cars anyway. Range is only a concern for the vast minority of drivers since the number of drivers who drive more than a couple hundred miles in a day is so small. Operating costs are superior for EVs over gas-powered cars for everyone else. |
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I think most of us would rather not have had COVID. It has been devastating for many economies and it took a bad toll on people. However it has had some side benefits (some may argue that having Trump removed for now may be one of them, LOL). I am talking about the digital revolution that was already taking place, yet still had some bumps along the road to occur, and has been forcefully implemented by many companies that required their people to keep on working. I am also talking about the immense number of new influencers and subscription services that had increased their adept several times-fold. All this would have taken ages otherwise. demand for services that can be performed remotely or provide solutions to the challenges of reduced personal interactions, such as information and communications technology (ICT), and deliveries, has increased significantly. In a span of three months, the pandemic has resulted in a 63 percent reduction in demand for hotels, while increasing demand for ICT by a comparable rate A source on the matter. Agree that the pandemic has moved the global economy forward by many years in terms of adoption of mobile technologies and especially payment systems. Electronic payments have exploded over the past year, far surpassing an already fast growth rate. |
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I don't know why everyone here gives so much importance to Warren Buffet. Across different sub-sections I have seen at least 4-5 threads which mentions him in the title. Warren Buffet was a great investor. But that was many decades ago. Right now he is a bitter old man who can't fathom the success made by cryptocurrency. Most of the economic analysts have predicted a steep rise in inflation, which corresponds to Biden's plan for an additional $6 trillion in spending ("American Families Plan"). Now we don't need Buffet to repeat those words.
Tell me you're a clown without saying you're a clown, lol. Buffet and Munger are still the greatest investors in history, and their opinions matter a great deal which is why they get so much attention. Trying to say Buffet is a bitter old man because he's not a crypto enthusiast is a hot take, and a dumb one at that. |
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meh, chainanalysis is a hot heap of garbage. Their website says : "Building Trust in Blockchain". Blockchain/Bitcoin solves the 3rd party Trust problem, ironic no? Seems like they want big gov contracts to me. They just got 100 million in financing. I dont like Binance but I like chainanalysis even less.
Just because the blockchain is public doesn't mean it's transparent. Have you ever tried to to trace bitcoin to see where it originates from? It's impossible. Chainanalysis offers services that do that, which is going to be ever more important as crypto becomes more mainstream and you have to verify that you as a business are not unwittingly abetting money laundering by dealing in crypto. |
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I can only infer the reason why Bitcoin's investment is preferred than oil, because Bitcoin is commonly used by everyone so anyone can invest in it, in other words people who can use their Internet can easily get involved in investing in Bitcoin. While oil investments can only be felt by businessmen and everyone can not easily invest in it.
Literally anyone can invest in oil directly by buying oil contracts. It's not any more difficult than buying bitcoin, you just need a brokerage account. You can also invest in oil indirectly by buying stock in any company that produces oil. And far more people use oil products than bitcoin, it's not even close. |
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I'm truly happy for these people, they were brave and weren't greedy, and for that, they got the reward.
I actually view it exactly the opposite. They weren't brave, they were stupid; and they were greedy. That's why you put money on a shit coin worth a fraction of a penny, in hopes of a pump that makes you a ton of money. They were just incredibly lucky it happened. Doesn't make the initial gamble not stupid. |
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There are so many people getting rich right now that it's almost unbelievable--just think about anyone who had 1 million doge from when it was worth a fraction of a penny. They now have more than most people have in their retirement accounts after working all of their lives. Crazy. You’d have to have invested, at minimum, hundreds of thousands of dollars in order to have made enough to retire peacefully, and I doubt it’s all that many people in that boat.
Nowadays, I kind of wonder about that. See my example of the doge-illionaires above, and think about all these professional Youtubers making big bucks for making videos. There's so much money floating around right now that there likely are a lot of young people with enough money to retire immediately if they wanted to. I read that doge is incredibly concentrated in a relatively small number of addresses, so I don't know how many people exactly are "getting rich" off doge, but I wouldn't put the number very high. I also doubt anyone shilling crypto on youtube makes very much money. You need to consistently get millions of views to make a good income. Also, none of them really say anything insightful. |
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What doesn't kill you makes you stronger. Bitcoin is in such a strong position now, thanks to its strong resistance when powerful people tried to destroy it. Elon Musk is not the first billionaire who tried to destroy Bitcoin and he will not be the last one. But the earlier ones realized that it is impossible to destroy Bitcoin, since it doesn't exist in the physical form. The decentralized nature of Bitcoin means that you can't destroy Bitcoin by taking down a central server or organization. And now Elon Musk will be taught a lesson which he will never forget in his life.
Why would you think Musk is trying to destroy bitcoin? Because he said something that you didn't like, so you ascribed all your emotionality onto it? Tesla won't accept bitcoin, so clearly this is evidence that Musk is trying to destroy it! And yeah, the second richest man on the planet is sure about to learn a lesson for not praising bitcoin to the moon, lol. |
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So $33,690 for an EV, with a range of 424 km? Looks like a very attractive option.
Not really. Charging at Superchargers – Charging at a Tesla Supercharger while on the road usually takes anywhere from 30 minutes to an hour, or sometimes a little more depending on the charger and the vehicle. https://www.autopilotreview.com/how-long-charge-a-tesla/How long do you need to refuel your gas car? 5 minutes? Texas doesn’t receive snow very often, but when it does, it apparently skyrockets the price of electricity.
On Tuesday, Oilprice.com reported that Texas’ current weather disaster, and subsequent electricity shortage, has electric vehicle (EV) charging prices surging, with the cost of charging a Tesla equating to about $900 (USD). The same charge in Texas at any non-emergency time would normally only cost about $18 (USD) using either a Level 1 or Level 2 charger at home.
It Costs $900 to Charge a Tesla During Texas’ Snowstorm Electricity ShortageOn the other hand, you can get a brand new gasoline-only Toyota Camry for $25k. https://www.ebay.com/itm/174760835403?hash=item28b08eb94b:g:JP4AAOSwl6lglUvvNo bullshit, no batteries, cheap, new, built like a tank. Impossible to beat a Toyota. What's the range of a Camry btw? I bet it is at least twice of a Model3. You're trading off either way. You pay less for the Camry upfront, you pay much more over the life of the car. Tesla's have lower maintenance cost because there are no oil changes and less costs for all the "under the hood" maintenance. And the Camry may have 2x the range on one fueling, but it also has 2x-3x the cost of travel as well based on the fuel source. So you take give and you take. |
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China is releasing a digital Yuan (there's already a pilot program running in the country) and you're right, they are able to monitor the flow of money in real time. They know exactly how much money you have, where you spend it, and most alarmingly, they can assign the money to expire if not spent by a certain date which forces stimulus spending by the population without cost to the government of handing out money and hoping people spend it. Digital currencies are going to be a very bad development, and yet they seem inevitable.
That is terrible, I was unaware they had added the ability to make money expire after some time, I have read about that capability for some time and how governments wanted to add it somehow to their money and it seems this is becoming a reality, however while they are stealing away the possibility of saving with their digital currencies it is as f they do not realize such a characteristic is going to kill that currency, after all while inflation is simply the increase in the money supply inflation is not really felt until the money velocity increases up to a certain point and a feature that forces you to spend your money will do exactly that. It's one of the biggest draws of a digital currency for governments that want to mandate stimulus. Whereas now the government doles out money to everyone and if you just save it it helps the economy in no way, with a digital currency you could tag dollars with an expiration period and ostensibly certain spending parameters so that the stimulus payments can only be spent on certain items (no booze, no lottery tickets, etc.). |
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Anyway, Biden's plan supposedly only affects the top 1% or big corporations, right? No chance they will risk fines/jail time by using crypto.
The 1% that we are talking about are notorious for escaping punishment and having their sentences lenient. I have no hope that Biden's government is going to be any different to the previous administration, most of the high ranking in the administration are in the 1% and also the 1% has a big contributor to the administration in terms of lobbying. In the case of audits, it's time-consuming and expensive to go after people who are rich because they have access to legal counsel that can really slow down the process and drag it out. The IRS goes after low hanging fruit because it's easier and more cost-efficient given their limited man power. That's where boosting IRS resources is really going to pay off in the long run as it will allow the IRS to go after the richer people who are shafting the government much more in unpaid taxes. |
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Is it fair to say: there is a demographic in the world that hates new inventions.
They hate new inventions like electric cars and space x rockets. They also hate new inventions like bitcoin.
This demographic hates tesla stock. They tried for years to kill tesla stock through short selling.
That’s actually not fair to say, it’s actually a pretty stupid generalization. Nobody “hates new inventions” and inventing new things has nothing to do with why people hate Tesla. Some people hate Tesla stock because the valuation is overblown and the company will never justify that valuation. Some people hate Tesla as a company because Musk is a narcissistic asshole. Equating these reasons with hating Tesla because they invent new things is a pretty dumb take on it. |
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Why people still buy stocks?
If with crypto much bigger profits *
3% daily gain is nothing If you can get 100% profit with Good coins pump.
How the Hell people Even get rich with stocks with so small profits?
Classic example of someone who doesn’t understand how stocks work or frankly investing at large. Stocks represent a legal share of the ownership of a business. That’s why they have value, you’re literally an owner of the profits the company produces. Crypto is just driven by a bunch of people who are speculating that the price of crypto will go up. There’s no real reason in goes up other than mass agreement, and because that’s arbitrary there’s also no reason it can’t go down for the same reason. Expecting to make profit trading crypto in pumps is nothing more than buying a lottery ticket, and that’s the opposite of investing. |
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Bitcoin maximalists are the definition of cringe. Did you know bitcoin was invented to save mankind from political oppression, censorship, poverty, and dozens of other threats? At least, that's what they'd have you believe even though literally none of that is true. The retcon of bitcoin's origin story is too much.
You are not making any progress with a statement like that, you are not helping anyone neither and at least bitcoin maximalists are providing their opinion. If you are trying to say that it's not helping human rights around the world, you might as well just state why you think that it's wrong and why you think that it's not protecting human rights, that way it will be a discussion and people can respond to your response and so forth and it will go on like that. However when you just go "lol, these idiots" and nothing more, you are not providing anything to discussion. I am full on support of bitcoin and a total maximalist and I believe human rights are not something you have to take as a whole, we are talking about certain parts of human rights, and bitcoin did improved on some failures of fiat currency and made it decentralized so I would say it did protect certain parts of human rights if you ask me. Maybe what OP is trying to point out is that sometimes some people in the bitcoin community are exaggerating bitcoin's capability as a cryptocurrency to the point that they look like they are trying to say that bitcoin is the solution to every problem when it isn't really the truth. Isn't @jaysabi also stating his/her opinion about these people? Yes, this is exactly what I was saying. Bitcoin was not invented to protect human rights or achieve any other noble goal people assign to it. It was just an experiment in immutable digital currency that has arguably become far larger than anyone in the early days ever though it would, or those early pioneers would have held their stacks of bitcoin. The maximalists trying to paint it as the savior of humanity are ridiculous. |
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