@exstasie. However, an overstatement or not, an immediate Tether takedown will cause a liquidity crisis. How so? Could you elaborate? The immediate liquidity crisis, as I see it, would be out of USDT and therefore into cryptocurrencies. How fast will real dollars and Tether's competitors swallow up its market share without causing a big short? I speculate not fast enough. We cannot assume that the billions in Tether will be transfered to other stablecoins or real dollars in 1 day.
Tether holders would absorb losses, whether by panic buying out of USDT or by waiting for a bankruptcy or similar action. I still maintain that whether this causes a serious crash or prolonged downtrend depends on the underlying market trend. If they take Tether down in the middle of a bubble (like 2017) it won't stop the bulls, anymore than when the Chinese exchanges were shut down. However, you do not see the other side of the argument. Tether could arguably be the one that supports or one that mostly supports the cryptospace market. Taking it down would be similar to taking away the foundation and cause it to fall. How would the Tether holders exit Tether if it was taken down by the exchanges? Also this article. Did you know that each time Tether is traded a small fee is charged, and that they can just change the fees and terms of their contract at any time??
There is no possibility for transparency because this contract has a backdoor that allows the owner to change the terms at any point:Source https://inst.medium.com/tethers-fees-4f1ce048bfbaTether in Ethereum might be easy to takedown if declared illegal and if ordered to cease operation by the government. @Fortify. Agreed. This is only the cryptospace edition hehe. Also, markets always recover. |
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@Abiky. It was never going anywhere without the support of the original developers. Ethereum Classic, similar to Bitcoin Cash and others, I have never seen a project that forked without its original developers that became successful.
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@exstasie. However, an overstatement or not, an immediate Tether takedown will cause a liquidity crisis. How fast will real dollars and Tether's competitors swallow up its market share without causing a big short? I speculate not fast enough. We cannot assume that the billions in Tether will be transfered to other stablecoins or real dollars in 1 day.
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@bryant.coleman. It is not similar to Tether. Tether allows you to hold your own coins in your own wallet with the private keys also in your control. Your coins in Paypal are 100% under their control.
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Payment company PayPal is considering options for absorbing cryptocurrency companies to expand its product line. Among them is the BitGo custodian, Bloomberg reports, citing knowledgeable sources. This is a big deal. BitGo is a giant in the institutional custody space, probably the largest after Coinbase. Some of the world's biggest exchanges are their clients. They also launched an institutional trading service earlier this year, although I'm not sure how much traction it has gained. With PayPal's existing customer and merchant base, they're already positioning themselves to be a giant in the Bitcoin exchange and payment processing industries. If they absorb BitGo on top, they could be right up there with Coinbase in terms of overall industry influence and market share, almost overnight. I don't love it, if I'm being honest. Agreed. This will begin to be more dangerous for our freedom on the internet when more people begin to depend on 3rd parties to hold and use their bitcoins. This will give them the power to terminate you from making your online payments which bitcoin was supposed to fix.Do not deposit or buy your bitcoins in Paypal. |
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Dana will certainly create a new storyboard for lightweight after Khabib's retirement. This might be Conor's chance again or it might not hehehe.  |
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However, a Tether takedown will not be some bad news that we can ignore carelessly. The whole cryptospace and most of its liquity depends on Tether. Bull markets cannot be created without it unless real dollars or another stablecoin also reaches a similar amount of liquidity.
Also, the essence of my argument is not fud. It is to warn us from making similar mistakes made by those overconfident people during the real big short.
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As an Eagles fan I'm happy they got the win but watching the game was terrible and I'm glad that I didn't place a bet on them even though they won. I think most here had a win with most taking the Giants to cover which they did. I do agree that the NFC East table looks very bad right now but it can all change as there is time for at least one or two teams to get .500 hopefully lol.
I predict the Cowboys to win the division with or without Dak Prescott. The other teams are worse in many ways hehe. The Cowboys at the very least have their offense. |
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@condoras. Are you telling everyone it is good because you like to trust Paypal in holding your coins for you?
Also, paypalcoin is not an assumption. Every bitcoin in there is only a representation that you hold bitcoin, however, it is controlled by Paypal.
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@xxjumperxx. The Giants +4.5 against the spread have won, however.
Next must win game in that division is the Cowboys versus the Washington Redskins with the Redskins giving -1. I am shaking my head. Football experts, why is this?
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Everyone might be overestimating Justin Gaethje's capabilities because of how he appeared to dismantle El Cucuy. We should remember that El Cucuy made 2 different weight cuts in 1 month for 2 different fighters. This certainly affected his body negatively.
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The Giants are leading this must win game. The NFC East winner might have the worst record in the NFL to receive a slot for the playoffs hehehe.
This is also the division where a record like the Washington Redskins still has a chance to go to the playoffs hehehehe.
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Everyone might be thinking that @notblox1's paypalcoin reply was a joke, however, it is really not. Paypal is similar to a one way sidechain. Every bitcoin you deposit to Paypal becomes a paypalcoin.
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To spread awareness and inform the ill-informed people lately like me on Grin development and news updates. The hoarding of bitcoin by institutional investors might be the perfect occassion for everyone to learn why fungibility and Grin's monetary policy might be the solution to mainstream adoption for decentralized peer to peer payments. tl;dr
Node has been patched to 4.1.1.
@lehnberg funding request approved.
Two wallet RFCs by @tromp
Grin v4.1.1 has been released, fixing a small bug.
Dev
There are 92 open issues in /grin, and 48 open issues in /grin-wallet.
Merged PRs: 8 in /grin | 2 in /grin-wallet | 4 unique contributors
Weekly update from @jaspervdm.
Call for ideas on how to improve the naming of transaction rounds.
New RFC proposals by @tromp:
Early payment proofs, generating and validating payment proofs for all transactions, including a timestamp and memo field;
Safe cancel, allowing for safe cancellation of pending transactions, preventing future so-called play attacks.
The next bi-weekly development meeting is scheduled for Tue Oct 13 @ 15:00 UTC in grincoin#general on Keybase. You can add topics to the agenda.
Governance
Simplify governance proposal will be merged on Oct 13 unless there are significant objections.
Last governance meeting approved @lehnberg funding request, tabled @WarmBeer QA funding request, discussed deprecating http(s), state of floonet, and did some RFC reviews.
The next bi-weekly governance meeting is scheduled for Tue Oct 20 @ 15:00 UTC in grincoin#general on Keybase. You can add topics to the agenda.
RFCs
Draft
Parallel IBD p2p messages [node-dev]
Wallet rules for (re)play protection [wallet-dev]
Eliminating finalize step [wallet-dev]
Parallel IBD [node-dev]
NEW! Early payment proofs [wallet-dev]
NEW! Safe cancel [wallet-dev]
Open
Change Difficulty Adjustment Algorithm [node-dev]
QA Team [core]
Deprecate HTTP(S) Transactions [wallet-dev]
Final Comment Period
fix-fees [node-dev], with disposition to merge by October 22 (extended).
simplify-governance [core], with disposition to merge by October 13.Source https://grinnews.substack.com/p/118-grin-411-released |
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@tromp. I am very much ill-informed and have not followed Grin and Aeon much closely after the quarantines began. I was also only asking about this announcement. Possible approaches
(come with your suggestions and I’ll update)
Return the funds to the anonymous donor
Burn the funds
Split funds to core team members and break up the band
Split funds between implementations
Open application process:
For funds with the purpose of having spent all of it before a certain point in time; or
For new “teams” to be formed, i.e. groups or individuals, each get an equal chunk of the funds and have to work in the best interest of Grin according to their best abilities.
Temp core teams, existing core team keeps the mu-sig keys but are not the core team any more. We have temporary core teams (say a new team every 6 or 12 months), that people somehow appoint, and they get a pre-determined amount to spend according to their best discretion, perhaps via filing a budget for it.https://forum.grin.mw/t/dismantling-the-core-team-and-governance-structure/7801I have not read the whole thread yet, but what is happening? |
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I would argue that if BTCe was really relevant in the cryptospace during that time, why was the bull market pump of 2017 not affected by BTCe's takedown?
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Having price exposure on bitcoin and not have the ability to use this will fuel it more to become only another speculative investment.
However, Paypal did mention that they will allow their users to spend their coins on where Paypal is accepted on 2021.
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I disagree. There are many people in the cryptospace that do not want or need anonymity and privacy. Mixers are a needed solution for some bitcoin holders, however, they should know that it is not perfect.
every human being both needs and wants privacy. anyone who claims they don't need it don't understand what privacy means until theirs is invaded then start their moaning about how the invaders wronged them! I agree from that perspective, however, I was telling the one who replied that many people presently do not need it or do not care to need it because most of them only use bitcoin as a speculative investment. It will come back to them and might cause them problems, however. |
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At the end of the day, the price shows the trend of Grin.
What was it, $25 or so, and now $0.30c
I wont take into account the ATH of over $250.
Lets be fair and say $25. Its also fair to say that to see $25 again is not going to happen.
Then use it rather than hodling. Grin is supposed to be like cash. Agreed! However, use it where? No one accepts it. There is not a gambling site, a store or an individual that likes to have it. We cannot scorn and tell people to use it. In any case, I am not updated on the news on Grin. Grin core developers disbanding? I thought Grin would have improved anonymity and privacy by this time. |
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@DrG. Also, the real issue of China as the source of the coronavirus are not being printed by the news anymore. I also have never heard of a Democrat that demanded an international investigation on China for the possibilty of causing this global pandemic.
China and Chinese companies will certainly be very happy on a Biden victory hehe.
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