I wonder what the average worldwide net worth is. That 0.0027 could be a relative lot for someone someday. |
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In Episode 392 of the Bitcoin Audible (rebranded from cryptoconomy), Guy Swann read Dominik Stroukal's critique of the stock to flow model, and really it seemed that Stroukal had made a really strong, persuasive argument critiquing the stock to flow model in terms of asserting that in economics, any model should account for both supply and demand, and proclaiming that the stock to flow model is pure speculation and wishful thinking because it ONLY focuses on supply. More or less Guy Swann's rebuttal tears Stroukal a new asshole... hahahahaaha... What I am suggesting is that it is a good podcast, with both a good read of a provocative article and a great rebuttal, too. Here it is: Bitcoin Audible (previously the cryptoconomy): Read_392 - Economics of the Bitcoin Halving [Dominik Stroukal]Thanks for sharing! Listening now. |
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I thought printed tether was dollars added?
I haven't looked at it in awhile but my understanding is that there is some debate about that. This is from a quick google, I don't know how trustworthy or current this info is but something to digest... https://beincrypto.com/tether-co-founder-it-doesnt-really-matter-if-usdt-backed-by-equal-amount-of-dollars/ William Quigley, both the CEO of WAX and the Co-founder of Tether, believes that having the exact amount of USD reserves to back USDT is not that important. In fact, what is important is that investors believe it is worth $1.
https://breakermag.com/tether-now-admits-its-not-fully-backed-by-dollars/Tether’s website has publicly stated for years that “every tether is always backed 1-to-1, by traditional currency held in our reserves. So 1 USDT is always equivalent to 1 USD.” That claim has been replaced by the following word salad:
“Every Tether is always 100% backed by our reserves, which include traditional currency and cash equivalents and, from time to time, may include other assets and receivables from loans made by Tether to third parties, which may include affiliated entities (collectively, “reserves”). Every tether is also 1-to-1 pegged to the dollar, so 1 USD₮ is always valued by Tether at 1 USD.”
https://coinnounce.com/is-tether-usdt-really-backed-by-us-dollars-whats-the-proof/The Tether Blockchain platform was actually initiated by the same person who is the man behind the cryptocurrency exchange, Bitfinex. However, high amounts of speculations as well as accusations hover around Tether, as it is speculated to be a scam. To be very specific, not a single authority has confirmed that the cryptocurrency blockchain platform is really backed by an equivalent amount of Fiat currency is deposited in the Bank.
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Some of us, surely need to work on our brains, first. Many of us have problems, but just think about how fortunate any of us are going to be, if we can figure out better ways to work with what we got and to build upon what we have, rather than fighting reality.
Thought you were talking about Craig Wright or John McAfee for a second. |
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All the states got extra snoopy when we were locked in, started using zoom and generally mucking about more on home pc's and mobiles. Most of the geeks are at home not on site. Expect a big nation-state cyberattack in the next few months. If only to keep the theme of "wtf 2020?" going. Would be sad if the pos terminals in supermarkets failed for a few days. Or large swathes of the West lost power for a while.
Surely a large meteorite strike, Yellowstone eruption event, ozone layer hole and New Coke are all on the menu for the second half of 2020? In terms of actual likely upcoming issues, hurricane season is about to start. A major hurricane in the middle of a pandemic lockdown would be.. um.. interesting. https://weather.com/storms/hurricane/news/2020-04-01-2020-atlantic-hurricane-season-april-outlookThe 2020 Atlantic hurricane season is predicted to be more active than usual, according to an outlook released Thursday by the Colorado State University Tropical Meteorology Project.
The group led by Dr. Phil Klotzbach calls for 16 named storms, eight hurricanes and four major hurricanes. A major hurricane is one that is Category 3 or higher (115-plus-mph winds) on the Saffir-Simpson Hurricane Wind Scale.
This forecast is above the 30-year average (1981 to 2010) of 12 named storms, six hurricanes and three major hurricanes.
Can't wait for those airdropped paper towels. |
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had occasion to re-set up a node, first time I have looked at bitcoin-qt in a while
it is just soooo bad, laggy, doesn't tell you what it is doing, still no option to go in and change your data directory if you lapse and click through that ONE chance at first run
I really can't believe it is still like this. It really does not inspire confidence. It is horrible.
We aren't getting any mass adoption if we can't even write a decent GUI for it...ffs...
Not sure the average person would ever have a need to set up a node. I mean I don't need to know detailed intra-bank lending regulations to have a consumer checking account. But I hear ya, the user facing tools generally suck balls, some devs are going to make bank in turning the space more user friendly. |
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Impossible to time the market for a single or dual buy. If you want to accumulate Eth then buy it with dollar cost averaging (DCA). Don't blow your stack all at once. Ride the averages, don't gamble on the low or high. You want the trend to help you build your wealth, you don't need the jackpot.
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The next 4 years are critical.
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My pleasure to witness the 2nd halving of my life.
Congrats on starting your investment strategy at such an early age. |
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Oh damn, looked away from the halvening website to check WO just for a second and missed the rocket.
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That thread is epic. Very first post asks what they will do when BTC hits $10k. |
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What's that havling everyone is talking about?
Funny thing is my friend who thought I was nuts for buying Bitcoin in 2012 is now texting me about the halving and where I buy Bitcoin... What. Does he want to start buying now for the first time or something? Yes he just started buying on coinbase! 8 years later... lol Better late than never. I had a boss back in 2013 IIRC tell me about it and at the time I didn't really get the utility, seemed like role playing money. I got in mid 2017 after spending a couple months finally taking the time to learn about it. I'd love to have the triple digits some of you early guys have but frankly I'm just jazzed to be in at all with my small accumulation. That I lost on a boating trip. |
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...
In my wee years of living, I have witnessed a fuckload of bailouts to portions of society that do not deserve it...
People need to stop calling it "Bailouts" and "stimulus" and all the other bullshit jargon and call it what it is, Welfare. or... "theft" Socialism, state directed economy. Corporate welfare... privatizing profits, socializing losses. |
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Haha, love it. "Do the right thing you peckerheads!" |
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How many of those 40% are actually interested in working day and night, not spending all of it, and taking risk? Not saying luck and inheritance does not play a role but some people are trying very hard to not get rich. And then complain about it. Not being able to afford education is no excuse anymore, wikipedia+youtube can teach you more than the average university or book.  |
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You could say "hey gang, this virus is bad...we should all socially distance" and we'd be like..."that sounds reasonable, we can do that temporarily then get back on with things as they were before". The crisis would pass, things would go back to normal.
This assertion flies in the face of basic human nature as well as history, some of it very recent history, and smacks of magical wishful thinking. Still want one of those seasteads though. |
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The health of a health system is easy established when everone is fighting the same disease at the same time. Take care of yourself depenting on others is fatal. Lots of other counties with no lookdown or Covid sickness at all. (mainly island nations) San Marino, no deaths in last 2 weeks (since 26 April), or the messenger died. USA, ⅓ of total deaths in New York alone and 45% of all US deaths in New York + New Jersey Fauci, CDC Director, and FDA Director now Covid sick.  I'd guess that world average number of 36 deaths per million is garbage. There's no way that reporting is consistent or honest among all those varying governments. Little difference than throwing up a bunch of random numbers.  |
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Tried to buy some, coinbase says bitcoin not supported, lol. More shenanigans. Off to another exchange.
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wtf is this?
It's Peter Schiff, he just learned javascript and wrote a bot. |
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