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bitcoins

mrzuzzo said:
What will happen when Tether inevitably collapses? Would that not cripple the entire crypto market?
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Why is Tether supposed to collapse? Is it the whole 'not keeping enough $ in reserve to match coin levels?
 
MikeL said:
Why is Tether supposed to collapse? Is it the whole 'not keeping enough $ in reserve to match coin levels?
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https://hindenburgresearch.com/tether/

Tether subsequently revealed that its coin was backed only by a small percentage of traditional currency, and that much of its backing consists of holdings in commercial paper issued by unnamed counterparties.

Despite multiple regulatory sanctions over its alleged lack of truthful disclosure about its reserves, and despite Tether now having a $70 billion market cap, Tether still refuses to provide transparency to the public on its holdings.

Recent reporting has indicated that Tether’s claims would make it one of the largest holders of commercial paper in the world. But major trading desks stated to the press that they had never worked with them or seen them in the market.
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I have some money in crypto but its a casino. When I see noobs throwing their hard earned money at it without a clear understanding of how shit works in the hopes of getting easy money, and old timers encouraging the noobs to "hODL"" its obvious this is a scheme I need to be part of early on.
 
panthera said:
Yeah what I meant is you will mine at a loss until they go up in price. It's all good but with the same money you can get more coin just by buying. There is really only one reason to mine yourself. Non kyc bitcoin. You pay a premium though. I would have twice the coins I mined if I had just bought.
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Unless you're an IT tech who can slave company computers to mine for you while idle, then as long as you don't get caught at it, profit. :laughing
 
Climber said:
Unless you're an IT tech who can slave company computers to mine for you while idle, then as long as you don't get caught at it, profit. :laughing
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I've got one in my buildings now. He's a good friend too...it's awkward, but needs to get handled.
 
Holeshot said:
I've got one in my buildings now. He's a good friend too...it's awkward, but needs to get handled.
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Sorry to hear that.

I'd tell him that it needs to cease immediately, you will let bygones be bygones if it doesn't happen again.
 
The Staples Center will be renamed Crypto.com in December. 700 million for 20 years. Yeah probably nothing since bitcoin is a scam. Lol. Position accordingly. Picked up another 500 fiat worth last night.
 
panthera said:
The Staples Center will be renamed Crypto.com in December. 700 million for 20 years.
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Yeah that's what I'd do with 700 million bucks. :laughing

Don't crypto exchanges have a responsibility to do something intelligent with investors' money?
 
Who are you to say how investors spend their money? To them this is a great way to gain exposure and add hundreds of thousands if not millions of people to their platform. Below is a list of the top ten investments made this year by crypto companies. Looks like UC Berkeley stadium is being renamed as well.
https://www.coindesk.com/business/2...tops-list-of-crypto-sports-sponsorship-deals/

Listen for the signal not the noise.
 
No one argues there is not currently tons of money to be made by skimming a portion of crypto trading transactions, but that doesn't necessarily correlate with crypto having or retaining value.

Don't forget that Crypto.com can write a 20 year contract, but that doesn't mean they will still be around 20 years from now, lets not forget Enron Stadium.

I still have never heard a good answer to the conundrum of how bitcoin can be both a usable currency/store of value while simultaneous going up in value rapidly (with big swings). Seems like it can either make a ton of money as an investment OR be a currency, but not both.

Currency without stable value is basically useless, and if crypto is no good as a currency, where is the value?
 
Naming rights and sponsorship failures are nothing new. Crypto's sponsorship deal reminds me a lot of the .com sponsorships before a lot of those companies went belly up or had to seriously pull back from the inflated values upon which they were so reliant. I'm sure the LA arena has many outs built into the contract.
 
bpw said:
No one argues there is not currently tons of money to be made by skimming a portion of crypto trading transactions, but that doesn't necessarily correlate with crypto having or retaining value.

Don't forget that Crypto.com can write a 20 year contract, but that doesn't mean they will still be around 20 years from now, lets not forget Enron Stadium.

I still have never heard a good answer to the conundrum of how bitcoin can be both a usable currency/store of value while simultaneous going up in value rapidly (with big swings). Seems like it can either make a ton of money as an investment OR be a currency, but not both.

Currency without stable value is basically useless, and if crypto is no good as a currency, where is the value?
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Crypto space is a total shitshow. The values make no sense at all.

Since there is very little regulation you have REALLY sketchy shit going on. Values are propped up by market makers that execute wash trading to create volume. Those same market makers also run algorithmic hedge funds. It's a total scam built by elitist cucks who are using the "Fomo" as a way to extract money from people who don't know better. If they were pulling this shit on the stock market all the "whales" would be behind bars by now.

It’s a filthy wealth transfer to a crowd of early and scummy "investors" with very little differences from traditional MLM schemes. The bitcoin elitists think that the exponential adoption of Bitcoin will install them as a superclass with ridiculous wealth and power that they gain without any accompanying value add to society.
 
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panthera said:
Taproot will activate today at block height 709,632. Less than 100 away. This week will be interesting.
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this can be huge in terms of getting closer to the transaction speeds of normal creditcard-level. Seems like a good idea.

If I understand right, it's setting up ways to process transactions quicker by bundling signatures, without having to go off-chain to do it. this means the bulk transaction can pass smoothly into the block without having to be re-validated. whereas an off-chain solution like lightning network has to be validated once bringing the bulk transactions back into the chain. Please let me know if I got that wrong.
 
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panthera said:
For those that think beanie babies is anything like bitcoin you obviously don't know about or understand the technology behind the coins. Also each coins tech can do different things. Blockchains will take over and be used in many industries.
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daaamn dude you were there at the beginning!
:hail:applause
 
Bowling4Bikes said:
If I understand right, it's setting up ways to process transactions quicker by bundling signatures, without having to go off-chain to do it. this means the bulk transaction can pass smoothly into the block without having to be re-validated. whereas an off-chain solution like lightning network has to be validated once bringing the bulk transactions back into the chain. Please let me know if I got that wrong.
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In short yes that's what taproot does. It makes bitcoin a little more anonymous by scrambling multiple signatures together making it harder to identify the inputs on the Blockchain. Also it has more tools for developers to use.
When you are on lightning you can transact instantly(settlement) and the transactions cost 1 Satoshi. You can use the funds in lightning for transactions and the funds can live indefinitely in the lightning ecosystem. Now when you want to move those funds out of lightning, that's when you record the transaction on the Blockchain. 2nd layer solution will be for daily transactions and the main chain is for storing your wealth that you create. If you are doing business and accepting bitcoin you will use lightning and when those funds grow large enough, you can move them to your "bank". Bank being your means of self storage.
 
I have a small building in downtown Redding that is within walking distance to the court house. About 800 sq feet or so with a large parking area. I will be putting in on the rental market soon and will be advertising it as accepting bitcoin as payment. If anyone is interested, we can negotiate a fixed btc price or let it fluctuate with the fiat price of bitcoin. If you think bitcoin is going down, this is a good way to short the price of btc. I will post up photos next week when its ready.
 
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