Bitcoin, Cryptocurrency, and the Future of Global Finance

#1,677
#1,677
Orange_Vol1321 said:
I always laughed when I heard someone say "decentralized" or "the governments can't touch crypto."

Kraken CEO.

View attachment 434705
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Anyone who says the government can't touch their crypto on an exchange is delusional.

Anyone who says they can touch someone's crypto secured by a cold storage wallet is in a straight jacket delusional.
 
#1,678
#1,678
reecetn said:
Anyone who says the government can't touch their crypto on an exchange is delusional.

Anyone who says they can touch someone's crypto secured by a cold storage wallet is in a straight jacket delusional.
Click to expand...

At some point you will need an exchange to sell them no matter where you store them.
 
#1,679
#1,679
Orange_Vol1321 said:
At some point you will need an exchange to sell them no matter where you store them.
Click to expand...

If and that is a big if that delusion of power has come to fruition, do you think cold storage keys that are connected to any asset of value would be limited to an "exchange" to realize said value?
 
#1,680
#1,680
reecetn said:
If and that is a big if that delusion of power has come to fruition, do you think cold storage keys that are connected to any asset of value would be limited to an "exchange" to realize said value?
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Right now, what asset are they commonly tied to?
 
#1,683
#1,683
Rasputin_Vol said:
So wait... their tied to NFTs?
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LOL, did we change the subject. I thought we were on the subject of cold wallets and access to said cold wallets.

those are decentralized exchanges that will connect to any wallet and allow movement of assets.
 
#1,684
#1,684
reecetn said:
LOL, did we change the subject. I thought we were on the subject of cold wallets and access to said cold wallets.

those are decentralized exchanges that will connect to any wallet and allow movement of assets.
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I guess I don't understand clearly. I was asking you what assets were these cryptos tied to? Also, if they move from one wallet to another, I guess that is ok. But at some point, when will the conversion go from cryptos into real world items like
cash?
 
#1,685
#1,685
Rasputin_Vol said:
I guess I don't understand clearly. I was asking you what assets were these cryptos tied to? Also, if they move from one wallet to another, I guess that is ok. But at some point, when will the conversion go from cryptos into real world items like
cash?
Click to expand...

those decentralized exchanges have pairs to USD or USDC.
 
#1,687
#1,687
Rasputin_Vol said:
I guess I don't understand clearly. I was asking you what assets were these cryptos tied to? Also, if they move from one wallet to another, I guess that is ok. But at some point, when will the conversion go from cryptos into real world items like
cash?
Click to expand...
Really, the bottom line is, where can I exchange my cryptocurrency for actual dollars that I can buy something with?
 
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#1,690
#1,690
85SugarVol said:
I have a Coinbase & Binance.US acct

They are both connected to US bank accts- it’s how I got $USD into the acct to transact with.

How are you doing it?
Click to expand...

OK now I understand the question. You can do it that way and send it to a cold storage wallet.

coinbase pro -> USDC -> wallet -> decentralized exchange is one example

ledger wallets and metamask is a good way to start. Metamask and uniswap is great

I use the xrp toolkit and sologenic also.

one side note:

Some ledgers have links to cards that allow you to spend USDC anywhere visa is accepted. I think ledger nano is one of them.
 
#1,691
#1,691
reecetn said:
OK now I understand the question. You can do it that way and send it to a cold storage wallet.

coinbase pro -> USDC -> wallet -> decentralized exchange is one example

ledger wallets and metamask is a good way to start. Metamask and uniswap is great

I use the xrp toolkit and sologenic also.

one side note:

Some ledgers have links to cards that allow you to spend USDC anywhere visa is accepted. I think ledger nano is one of them.
Click to expand...
And this is bulletproof? Govt can't block this?
 
#1,692
#1,692
Rasputin_Vol said:
My goodness... first off, I stated they would "all" be put to the test... I didn't say they would be debunked. And secondly, it was simply a general statement that you are taking too literally. Obviously, there are exceptions to every rule. I was generalizing and trying to make a bigger point. Could I have said "most" or "some" instead of "all"? Sure. If it will make you happy, I'll backpeddle and say that instead.
Click to expand...

Nobody said "debunked". What are you talking about? "All" being put to the test is wrong and it's not nitpicking to say that. That is the point.
 
#1,695
#1,695
Rasputin_Vol said:
And this is bulletproof? Govt can't block this?
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if all the nodes are under their jurisdiction. Most have thousands of nodes that constantly validate transactions. The only way those can be tampered with is if you can get control of all of them and update them at the same time.

Once you get past the bank->exchange->cold wallet and start using decentralized exchanges all the threats are cute babel like that of a 1 year old child trying to learn to talk.
 
#1,697
#1,697
reecetn said:
if all the nodes are under their jurisdiction. Most have thousands of nodes that constantly validate transactions. The only way those can be tampered with is if you can get control of all of them and update them at the same time.

Once you get past the bank->exchange->cold wallet and start using decentralized exchanges all the threats are cute babel like that of a 1 year old child trying to learn to talk.
Click to expand...
You’re talking about someone trying to falsify the blockchain here, right?

Theoretically infinite # of nodes - and they all have the receipts. Yes - to edit/tamper with the chain you would have to simultaneously update all the disconnected, decentralized nodes. Can’t do that today.

But by which process do you turn your XRP back into $USD?
 
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#1,698
#1,698
reecetn said:
if all the nodes are under their jurisdiction. Most have thousands of nodes that constantly validate transactions. The only way those can be tampered with is if you can get control of all of them and update them at the same time.

Once you get past the bank->exchange->cold wallet and start using decentralized exchanges all the threats are cute babel like that of a 1 year old child trying to learn to talk.
Click to expand...
But wait, bank->exchange->cold wallet->bank/ATM/Credit card
What about that last piece of the puzzle where you have to bring that out into the real world?

reecetn said:
Some ledgers have links to cards that allow you to spend USDC anywhere visa is accepted. I think ledger nano is one of them.
Click to expand...
 
#1,699
#1,699
85SugarVol said:
You’re talking about someone trying to falsify the blockchain here, right?

Theoretically infinite # of nodes - and they all have the receipts. Yes - to edit/tamper with the chain you would have to simultaneously update all the disconnected, decentralized nodes. Can’t do that today.

But by which process do you turn your XRP back into $USD?
Click to expand...

Falsify???

You connect your wallet to a DEX and swap. Below is an example of XRP/USD
Sologenic NFT Marketplace | Mint, trade & collect NFTs on the XRPL
 
#1,700
#1,700
Rasputin_Vol said:
But wait, bank->exchange->cold wallet->bank/ATM/Credit card
What about that last piece of the puzzle where you have to bring that out into the real world?
Click to expand...

yes, if you have USDC on a ledge wallet and got one of their cards you do not need a bank to spend that USDC.
 
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