The hodler viewpoint


Ten point nine thousand
twelve is around the corner
to the moon, brothers!





#haiku

The science and math viewpoint


Proudhon confirming
ominous and dark from here
scientific future






#haiku

Thanks V8, I'm fine apart from the dark thoughts. Unrelated to the epidemic, but it all happened in 4 months. I had no idea how serious his situation was cause he wouldn't complain or pity himself.

Searing, cat guy here. It really depends on both breed and individual. Females are easier IME.

Misogynous thoughts
A friend of mine died today
Bitcoin, save my mind!




#haiku

A couple of sats?
Early ejaculation
Must be very quick.




#haiku

Settle down? No need.
She'll turn into old pussy
Gold digger or not.



#haiku

Whoa whoa! She's climbing the stairs two at a time.

Banks and credit card companies are doing their best against that happening.

Another Sunday
the corn is going sideways
another haiku




#haiku

I think they could make sense in some circumstances. Sending remittances via AmazonCoin or libra isn't that far from using bitcoin, conceptually. Of course the process under the hood is completely different, but it could have a similar function. Far too much stuff for central bankers to control. They would have to rely on FB or AMZN for KYC stuff (over certain limits, at least), and such big corporations have the muscle to topple the economic policies of (small?) nations. Of course they don't like the idea: it's much like bitcoin from their vantage point. No, not from yours - or mine, for that matter.

But let's assume they don't make sense in any possible way or circumstance. The would-be issuers could disagree, of course. They might have mischievous plans or whatever. So force the tokens to be tethered to a certain predetermined basket of assets or goods - specified in the white paper and hard to change. Force them to be backed by hard reserves. Force them to be redeemable on the spot, for their fair value. Make a law to specify "fair value" in such a way that the buyers of tokens have the upper hand when redeeming - no walled garden if they don't like it. Do AMZN or FB really want to risk a "token run"? Problem solved.

EDIT Trying to explain my position. I don't like the idea of bankers meeting up to "ban" anything with "token" or "digital coin" in it. The distinction between "private-sector" or "in-the-wild" cryptocurrency is too feeble and too easy to manipulate for my taste. If there are issuers, make clear laws that make them liable (and maybe harshly so: going again central banks is no small sin, after all). Once the ground rules are set and the user  is protected, let them print their tokens. They can't do any harm, but they could do a little good.

I say, let them try to own the world by conjuring up tokens, meaningless as they might be. It could simplify things for some people - the unbanked come to mind. It could simplify trading - tether, for good or bad, has been facilitating whale trades for years and might be a part in decentralized exchanges over L2 in the future.

BUT when you issue them, whatever your reason may be, be ready to pay back cash or similar "hard" assets whenever someone wants out of your Monopoly money. Or else.

Bitcoin is bitcoin. There's no "issuer", there's no backing, it is what it is. You want some? Mine it or buy it.

The EU tentative regulation that Biodom mentioned, as I understand it, is aimed at tokens issued by corporate actors (libra is explicitly mentioned, and tether would qualify as well). My previous post simply states that I personally agree that such corporate entities should be held liable, and any failure to comply with redemption requests immediately should have civil and criminal consequences.

The last thing we need is more fractional reserve scams springing up like mushrooms everywhere.

You're stuffed full of merits for a reason, dude. Have a special one. Keeping my last few for promises and nonlegendaries

+1 WOsMerit

In this context, it looks sane to me. Tolerably so, at least. You issue tokens, they must be backed by something.

Did Finney or Nakamoto ever mention such an event/situation as a market for forks? 2 sMerit to the first finder of a quote.

Congratz Cryptotourist!

Contaminating your vital fluids, are they?

Decorrelation
isn't a thing anymore
not these days at least




#haiku

For what's worth, I confirm cAPSLOCK's findings. Because science and hard data.

I share your disgust at the hopeless clown, but seeing your frequent mentions of him here I understand some peeps complaining about people in their ignore list getting quoted by other peeps they follow.