You said that stablecoins are shit backed by American dollars which is also shit. Bitcoin's price is based on dollars and also backed by dollars. The market cannot exist without dollars. Does this imply that bitcoin is also backed by shit also?
You are confused about what "being backed by something" means. A stablecoin being backed by dollar means there must be a fixed amount of dollar for each unit of that stable coin. For example 1 dollar for 1 tether. Can you say that for bitcoin?!!! Bitcoin price also does not depend on the dollar and is not related to it either. It's just that as the most used shitfiat internationally, it is easier to trade against dollar as opposed to other shitfiats. Otherwise bitcoin, as a currency, has its own value and its own price against all other currencies. If one shitfiat ceases to exist, bitcoin will still exist and work fine! Not to mention that with the ongoing dedollarisation we eventually will see another centralized shitfiat replace dollar and dominate the market where everything is traded against.
P.S. It is kind of weird to talk about PayPal launching a stable coin while they launched their dollar backed stable coin in 1998 when they established PayPal You are correct it is confusing because bitcoin is not really backed by anything. The price is determined by how much supply is available on the market, how much demand there is on a certain time and what type of attitude the investors presently have on the market. However, what does the market use to price bitcoin? Where does the market base the value? On fiat. I agree that bitcoin does not depend on the dollar if there is an international market where it can be directly exchanged for commodities. However, it does not. The pricing depends on shit fiat currencies. |
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Looking at 0-4 staring right at me, my ff season might be over before Halloween! Wierd how some leagues ypu lead and others ypu can't squeeze out a single win lol. Big night for the giants they can't fall to 1-3 to start the year if they want a shot at the end. Gonna be a close game buy giants missing Andrew Thomas still which hurts since their line is probably the worst in the league.
I am 1-3 but I have the same attitude as yours hehehe. Cooper Kupp might help my team's record, however, it appears that 5 weeks with out him is too much. Much time has passed already unless some of the leaders of the league also have their own losing streaks. When your first round pick does not work out then you are in trouble, especially if the number of teams on the league is on the high side since you will be hard-pressed to find any decent replacement on the waiver wire or in free agency, in my case Ekeler’s injury threw a wrench in my plans since he is probably going to return until week 6, meaning he has been out for 4 weeks, and while a good player he is clearly not worth the first round pick I used to pick him. My 1st round pick was Tony Pollard, 2nd round pick was Derrick Henry, 3rd round was James Cook and 4th round was where it was a risk and I picked Cooper Kupp. I reckon the team is okay considering that I was the 12th picker. I reckon if Kupp returns and creates the projected given points, I might have some wins that might put me on top 6. Also, you got Cole Kmet from the waiver wire after I dropped him. I regret this heheheh. The replacement is Kyle Pitts. The Hawks have a very bad quarterback who will not pass the ball to him. |
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I am in agreement to the people who are skeptical on Michael Saylor Moon's $5 million prediction. However, do you know what might be a funny speculation? There were unconfirmed rumors that Michael Saylor Moon promised to advertise bitcoin on the Las Vegas sphere. If he does this on a bull market after another big pump to another all time high, I speculate that bitcoin might have a big dump after this, very much similar when Elon went to Saturday Night Live to advertise crypto.  |
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@Husires. However, to become a validator the node should take some tokens. This news clearly implies that Google Cloud has bought some tokens and they might be testing Polygon as a platform. This might not be something similar to Elon where he declares something and pumps the coin only to dump later very much similar to what he has done to bitcoin.
But @edmundduke has reminded the skeptical me that this news might only be similar to the partnerships that we have witnessed before hehehe. Google Cloud's participation on Polygon as a validator might only be someone in the office who is using an office computer to run a node hehehehehee.
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I am surprised that no one has pointed out the fundamental economic flaw with this concept.
If the USD is backed by nothing but faith, confidence, and (arguably) oil....and PayPal is backed by USD... Then what isn't this technically just shit backed by shit?
It's good for cryoto, if it enables people to move from PayPalUSD to cryptocurrency with no limitation. However, limitation is the biggest problem with PayPal. I doubt movement between crypto and PayPal's stablecoin will be seamless or limitless.
The main reason PayPal is doing this is for database integrity via the blockchain ledger, making all payments traceable while reducing the liability and costs involved with the amount of data they process daily. There will probably be a massive scalability boost if the blockchain they use has a reasonable TPS....
Though that's another question. If PayPal is going to make all balances backed by its stablecoin eventually, what chain will it be deployed on and can it keep up with PayPal's TPS?
[1] The USD is backed by the credit of the American government and America's military as what was shown when Saddam Hussien declared that Iraq will begin using the Euro for oil trades. They were invaded only 1 month after this declaration. [2] Also, many people in the bitcoin community say that the dollar is shit, however, in what currency do we price bitcoin? What are the proposals and how to price bitcoin away from shit?[3] You also mention that Paypal's stablecoin will be good for the cryptospace if it can be moved in the cryptospace without limtation? According to your words, it is shit. Why would you want more shit in the cryptospace? Credit is shit. Military is where all the money went, and why the gold standard was eventually abolished. The invasion of Saddam Hussein is only one of many war crimes that the US have committed with the power they have amassed via the fiat money scam. What better opponent to give Bitcoin than the once unopposed, all powerful reserve currency of the world? As Bitcoin has grown, USD has lost its power. As BTC continues to grow, USD will continue to lose its power. That is what the price truly reflects. When you convert or redeem PaypalUSD you are able to convert shit to Bitcoin. Just like you can convert USD to BTC. If it's possible, it's another funnel of demand for Bitcoin. You said that stablecoins are shit backed by American dollars which is also shit. Bitcoin's price is based on dollars and also backed by dollars. The market cannot exist without dollars. Does this imply that bitcoin is also backed by shit also? You also said that you wish to witness Paypal's stablecoin would make it easier for inflows into bitcoin. This clearly implies a possbility of a pump that might become a bubble if this occurs. However, what would happen if people want to dump their bitcoin because they want dollars? I will not be a hypocrite and tell everyone that I do not want to witness a big pump on bitcoin, however, mixing idealism with our speculative investments and having a position that say we are better, the other coins have no right to continue might not be a very good position to have. However, I agree on the argument on stablecoins. I have always speculated that they might have fractionalized already. If the speculation is correct then stablecoins are fractionalized currencies backed by fractionalized currencies hehehehe. |
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@zasad@. Yes but that will be for another case. The case the community has been concerned about is whether their tokens are illegal securities which as ruled by a judge, which they by themselves are not really securities. However, they cannot do an act that makes the arguable to be securities like selling them to whales and institutional investors through presales and ICOs. This I speculate might make many projects' token issuance and markets creation more fair and more accessible for small minnows hehehe.
Are they illegal securities? Who cares at this point. Instead of wasting time in court about things like Ripple, why not go after the hundreds of shitcoins created on a regular basis that are clearly intended for pump and dump purposes, and miserably fail the Howey test? It shows that SEC's priorities are all whack and the consumer is not the person they actually intend on protecting primarily. Many people and developers care. The bitcoin community is not the only community in the cryptospace.There are more communities that want to develop their own projects. The cryptospace is not only about bitcoin. Also, have you been following the recent news developments? Ripple has won their case and has created a precedent. A judge has already ruled that the tokens by themselves are not securities which will make it more difficult to go affer the thousands of small projects. Uncle Gary has lost and we in the cryptospace community have won!  |
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Looking at 0-4 staring right at me, my ff season might be over before Halloween! Wierd how some leagues ypu lead and others ypu can't squeeze out a single win lol. Big night for the giants they can't fall to 1-3 to start the year if they want a shot at the end. Gonna be a close game buy giants missing Andrew Thomas still which hurts since their line is probably the worst in the league.
I am 1-3 but I have the same attitude as yours hehehe. Cooper Kupp might help my team's record, however, it appears that 5 weeks with out him is too much. Much time has passed already unless some of the leaders of the league also have their own losing streaks. |
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Assuming Oliveira loses, there isn't too many options for his next fight. He could fight either Poirier, Gamrot, or Tsarukyan (if he beats Dariush). He already fought Poirier and Gamrot won against Tsarukyan, so Gamrot is probably the most likely one to get that fight. He knows this, that's why he called out Oliveira after defeating Fiziev.
Of course there's also Chandler, but he'll be patiently waiting for McGregor and he also already got defeated by Oliveira, and UFC can't keep re-running the same fights over and over again, they need to let some fresh blood in the top 5.
I am seeing Charles Oliveira being defeated again in this fight with Islam Makhachev, for me the level of wrestling for Islam Makhachev is that huge for Charles Oliveira to understand but I could also be wrong here as it was a dominant fight that he showcased against Beneil Dariush, but for me If Charles Oliveira got an upgrade with his initial striking, power, and ground game for sure Islam Makhachev will be on a different level as well, but for sure I am still be going with the Dagestan Fighter Islam Makhachev for sure, Finally we have the UFC back next weekend ladies and gents...  The main event is intruiging as before seeing Dawson win vs Ismagulov, I'd say Bobby Green gets the W. But after Ismagulov, a couple of questions... Did Dawson really improve a whole bunch after leaving James Krause or was Ismagulov just declining as a fighter..? :/ I guess we'll see it next weekend. Lol. I'm also looking at a couple of underdogs. Will watch some of their past matches in MMACore and see how I feel about it after. Could be value. For me, the Main Event is really juicy but for sure but I enjoy the events that don't have any juicy line-ups as long as there are Fighting Kittens on that card I am pretty much excited about the weight-ins and the whole fight for certain fighting kittens and in this event, Karolina Kowalkiewicz and Diana Belbiţă in the preliminary Card is what I think the jam pack card for a kitten fight, expecting a great card for sure,   Where is @pawell77? He might be angry and tell you to change your ways if you post these images of our sexy fighting kittens heheehehe. It also appears the you have forgotten Montana dela Rosa who will be fighting a woman with a big forehead. I speculate that she is very much being underestimated for this fight.   |
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Bitcointalk Username: bbc.reporter
Bitcoin address: bc1q2cxuaksp48qmdpm6r6k596yd2vvxnp9z9wunre
Merit earned in 120: 86
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@zasad@. Yes but that will be for another case. The case the community has been concerned about is whether their tokens are illegal securities which as ruled by a judge, which they by themselves are not really securities. However, they cannot do an act that makes the arguable to be securities like selling them to whales and institutional investors through presales and ICOs. This I speculate might make many projects' token issuance and markets creation more fair and more accessible for small minnows hehehe.
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will this have a good impact on matic prices? or is it just good news without a big impact? i hope matic can return to the price of $1 because i still have some matic that i bought and haven't had time to sell for now.
No it will not, I reckon. We are presently in a bear market and bear markets imply that not much inflows will go to the coins in the cryptospace. There might be some, however, it will be not enough to pump in much of these coins to an all time high. However, every investor should know the most recent developments and the lastest news to know where to invest their money when the cryptospace market becomes more bullish. There are many good developments on protocols in DeFi and NFTs. |
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There are rumors on social media that CZ's marketmaker Sigmachain had a shorfall. No one knows how much it has lost or how long this has been happening. However, what was reported in mainstream news media on June was Sigmachain was accused of receiving customer funds illegaly from Binance. I reckon of this rumor is true and if the deficit is big enough to bring Binance to insolvency, we might be witnessing something similar to FTX-Alameda case.  Two offshore trading firms controlled by Binance founder and CEO Changpeng Zhao lie at the centre of the Securities and Exchange Commission (SEC) lawsuit launched against the world's largest crypto exchange, which highlights concerns over client funds.
Swiss-registered Sigma Chain received customer funds from Binance, the U.S. regulator said in its complaint on Monday, and then engaged in "manipulative trading" to artificially inflate the exchange's trading volumes.Source https://www.reuters.com/markets/us/zhao-controlled-binance-trading-firms-heart-sec-lawsuit-2023-06-06/ |
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@BitcoinsGreat. Also, if you want to deposit large amount of funds that you certainly do not want to lose, it might be good for you to do your KYC in advance and know if the exchange will accept your identification cards and other documents.
I would also suggest futures exchanges on DeFi for small minnows. I never trusted exchanges similar to MEXC or Tradeogre hehe.
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I am surprised that no one has pointed out the fundamental economic flaw with this concept.
If the USD is backed by nothing but faith, confidence, and (arguably) oil....and PayPal is backed by USD... Then what isn't this technically just shit backed by shit?
It's good for cryoto, if it enables people to move from PayPalUSD to cryptocurrency with no limitation. However, limitation is the biggest problem with PayPal. I doubt movement between crypto and PayPal's stablecoin will be seamless or limitless.
The main reason PayPal is doing this is for database integrity via the blockchain ledger, making all payments traceable while reducing the liability and costs involved with the amount of data they process daily. There will probably be a massive scalability boost if the blockchain they use has a reasonable TPS....
Though that's another question. If PayPal is going to make all balances backed by its stablecoin eventually, what chain will it be deployed on and can it keep up with PayPal's TPS?
The USD is backed by the credit of the American government and America's military as what was shown when Saddam Hussien declared that Iraq will begin using the Euro for oil trades. They were invaded only 1 month after this declaration. Also, many people in the bitcoin community say that the dollar is shit, however, in what currency do we price bitcoin? What are the proposals and how to price bitcoin away from shit?You also mention that Paypal's stablecoin will be good for the cryptospace if it can be moved in the cryptospace without limtation? According to your words, it is shit. Why would you want more shit in the cryptospace? |
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This will certainly be the last news update in this thread. It is over for uncle Gary vs. Ripple. A federal judge has rejected the SEC's motion to appeal a court decision and what might be the most important case that has set a precedent for many altcoin projects in the cryptospace. They have Brad Garlichouse and Ripple's millions in legal fees to thank.  A federal judge has rejected the U.S. Securities and Exchange Commission’s bid to appeal its ground-shaking loss against Ripple, the crypto company associated with the XRP token.Source https://www.coindesk.com/policy/2023/10/03/secs-motion-to-appeal-loss-in-ripple-case-is-denied/ |
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@edmundduke. Agreed, Google might not presently develop something on Polygon, however, having an interest to run a validator is not something similar to those fake partherships from 2017. Those announcements from Omisego or Vechain were only marketing tactics to pump their tokens. This news from Polygon was only about their development team expressing welcome to Google Cloud. There is no hype in this.
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@chaser15. I am quite certain there are no insiders who know who will win this early in the Oscars race hehehe. Also, there are no judges in the Oscar awards. The nominees and the winners are voted by the members of the Academy of arts and motion pictures sciences which has more than 10,000 members including actors, actresses, directors, producers, screenwriters, cameramen, designers and other ordinary people who work in the movie industry. There might be some bribery and politics, however hehehehe. However, knowing who the winners will be? This is very difficult. Some insiders might have information only after nominations voting on January which might also go to the oddsmakers.
@edmundduke. On Oppenheimer, it might not win. The Oscars voters have voted on emotional and inspirational movies for best picture on 2022 and 2023 with Coda and Everything Everywhere. They might do this again hehe.
On Barbie, agreed, it might be nominated for best costume and production design hehe. I have not seen the movie.
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Can I ask why the locking feature was implemented?
Just tested the site today with high rolling and it looks like it's forcing you to wager your own deposit - why not do what Stake is doing, you can deposit and must wager at least once (not twice, even if the odds don't matter)... or maybe it's only once but sports wagering doesn't count and then it needs to be fixed?
To be honest, their wagering requirement (I think 400x) is just incredible high and it doesn’t make sense. I know we debated about this in the past but I can’t be convinced that the requirements need to be that high, this is something they should revisit and modified in my eyes. @efialtis, great to hear everything was processed quickly! I can only speculate and I reckon that the team's reason might be because they are presently trying to gather a loyal group of users who who are longterm bettors for BC.game. They might also want more users who will be leaving their funds on the site than the players who immediately withdraw after playing. I reckon similar to a banks, this might be easier and helpful for the site's internal cashflow. Well, there is never a time it's even recommended or advised that gamblers should leave funds in their gambling accounts on the casino, no matter how good and reputable the casino is, it is important to always know that anything can happen which can lead to unexpected loss of funds.. And besides, a company, whether it be a gambling casino or exchange or whatever, should never depend on users deposits, as a means for them to be liquid, so as to be able to pay settle withdrawals peacefully, else, such platform could be running a ponzi scheme. Agreed and read the reply, I never made any recommendations that anyone should leave their funds in their accounts in any type of casino or sportsbook. I was only speculating on what BC.game's strategy is for growth of loyal players in the casino. |
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There is one less exchange without KYC. Who is next?
Why are those exchanges rushing to impose KYC so quickly? We have an average of a large/medium platform every month or a two. I have not read any new legal amendments in Europe, USA, or even the Seychelles and the Cayman Islands, from which licenses are issued for some of these exchanges. Clearly this is for the purpose of compliance. Exchanges do not want a compliance nightmare that might come to them later if they do not start imposing KYC on their users today. Also, I agree with Ratimov. This is a pity hehe. Bitget is similar to Kucoin during 2019-2020, always one of the first to list cryptocoin gems in their futures market. It appears that for people who do not want to show their ID, they will only have onchain trading without leverage through DeFi. |
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I wonder if this will turn into another cycle of "partnered with" situation where others might try and get on the bandwagon aswell. Just like back in the day when someone was using AWS they described it as being partnered with Amazon lol
Its cool that Polygon is being noticed ofc, its a decent chain but suffers from same issues as all Eth based tokens
I reckon this is not something similar to the partnerships of 2017 hehehee. I also remember the project Omisego's announcement telling everyone that they have partnered with McDonalds. However, the truth was their team was only buying hamburgers to feed their team members and staff hehehehe.  In any case, on Polygon and Google, there are no partnerships. Anyone can run a validator if people want and it appears that Google Cloud just wanted to run a Polygon validator. Will Google Cloud develop something on Polygon is uncertain. |
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