Bitcoin, Cryptocurrency, and the Future of Global Finance

#2,352
#2,352
theFallGuy said:
I wish I had more funds when AVAX was $10 and LINK was at $5. I didn't get enough.
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I know the feeling, I consolidated to a handful of coins that I could cash out easily on a DEX when the centralized exchanges start their BS like coinbase just did.

I hit the Jackpot with the FLR I bought last October. It hit 550% last week and I knew it was time to let some of it go.
 
#2,353
#2,353
theFallGuy said:
that's not what I said at all. I just said there are better crypto investments with better utility than DOGE. For the record, I currently hold a bag of DOGE in my portfolio. But you do you
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You're welcome, sir.

Good luck!
 
#2,354
#2,354
reecetn said:
I know the feeling, I consolidated to a handful of coins that I could cash out easily on a DEX when the centralized exchanges start their BS like coinbase just did.

I hit the Jackpot with the FLR I bought last October. It hit 550% last week and I knew it was time to let some of it go.
Click to expand...
are you in any AI tokens like AGIX?
 
#2,357
#2,357
I’m still waiting on any reasonable explanation of why any crypto currency should appreciate in value. Maybe Bitcoin and a couple others could survive as a means of international transactions that bypass traditional financial systems, but countries depending on exploiting US consumers and using trade routes protected by the highly developed democracies really shouldn’t be biting the hand that feeds them. Maybe a CC that North Korea uses to trade with Iran is in the cards - but good luck with that.
 
#2,358
#2,358
Thunder Good-Oil said:
Unless a few of the currencies emerge with widespread acceptance and utility, the returns are no different from bidding up tulip prices. Be careful to not be the bag holder.
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I think you might misunderstood how most people are using crypto.

They cash it out...

Most hold on to a fraction, but by and large they transfer the digital currency back into their personal banks accounts. And it's just as real as a wad of money in your hand
 
#2,361
#2,361
LittleVol said:
I think you might misunderstood how most people are using crypto.

They cash it out...

Most hold on to a fraction, but by and large they transfer the digital currency back into their personal banks accounts. And it's just as real as a wad of money in your hand
Click to expand...

I understand. They’re short term trading of assets that generate zero income and have very little utility. It’s gambling, not investing. Any positive returns are offset by somebody else’s negative returns. Like meme stocks and Ponzi arrangements - those that don’t convert to established currencies early in each cycle will be the bag holders.
 
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#2,362
#2,362
Thunder Good-Oil said:
I understand. They’re short term trading of assets that generate zero income and have very little utility. It’s gambling, not investing. Any positive returns are offset by somebody else’s negative returns. Like meme stocks and Ponzi arrangements - those that don’t convert to established currencies early in each cycle will be the bag holders.
Click to expand...
Have you done any reading or podcasts on crypto? I listened to a series a couple of years ago, and I learned a lot. Some of the uses of blockchain technology are decentralized finance, smart contracts, international currency transaction, verification of luxury items, web hosting/ design, several healthcare applications (insurance verification, payment, cloud EHR storage, etc), NFT design/marketing/trade, . . .

Once I really dove in, there's some incredible stuff out there and much, much more in the works. I was an admitted skeptic, but I have warmed considerably on the futures of crypto and blockchain.
 
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#2,363
#2,363
kiddiedoc said:
Have you done any reading or podcasts on crypto? I listened to a series a couple of years ago, and I learned a lot. Some of the uses of blockchain technology are decentralized finance, smart contracts, international currency transaction, verification of luxury items, web hosting/ design, several healthcare applications (insurance verification, payment, cloud EHR storage, etc), NFT design/marketing/trade, . . .

Once I really dove in, there's some incredible stuff out there and much, much more in the works. I was an admitted skeptic, but I have warmed considerably on the futures of crypto and blockchain.
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Yep, the much antiquated financial system is as we speak going to blockchain. That is undeniable now.
 
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#2,364
#2,364
kiddiedoc said:
Have you done any reading or podcasts on crypto? I listened to a series a couple of years ago, and I learned a lot. Some of the uses of blockchain technology are decentralized finance, smart contracts, international currency transaction, verification of luxury items, web hosting/ design, several healthcare applications (insurance verification, payment, cloud EHR storage, etc), NFT design/marketing/trade, . . .

Once I really dove in, there's some incredible stuff out there and much, much more in the works. I was an admitted skeptic, but I have warmed considerably on the futures of crypto and blockchain.
Click to expand...
Still, what is it that creates value with currencies? Especially if you move away from Bitcoin and another couple of the highest market caps. The prices can be bid up in the meme-like frenzies, but CC’s don’t create income. I can’t go to Kroger and use it to pay for my purchase (even if I could, how does it create value?).

It seems to me like CC’s are just being bid up between individuals. Like artwork or collectibles. As long as there are willing buyers the prices can go up, but there’s nothing else to consider as income from owning the asset.

I’m not talking about blockchain. I’m talking about the thousands of currencies that get created out of thin air and then get pumped.

Ten guys walk in to a poker game with $100/each. Some will leave without all of their $100. Some will leave with more than their initial $100. But in total the players started with $1,000 and ended with $1,000. It’s just been redistributed to different wallets.
 
#2,365
#2,365
Thunder Good-Oil said:
Still, what is it that creates value with currencies? Especially if you move away from Bitcoin and another couple of the highest market caps. The prices can be bid up in the meme-like frenzies, but CC’s don’t create income. I can’t go to Kroger and use it to pay for my purchase (even if I could, how does it create value?).

It seems to me like CC’s are just being bid up between individuals. Like artwork or collectibles. As long as there are willing buyers the prices can go up, but there’s nothing else to consider as income from owning the asset.

I’m not talking about blockchain. I’m talking about the thousands of currencies that get created out of thin air and then get pumped.

Ten guys walk in to a poker game with $100/each. Some will leave without all of their $100. Some will leave with more than their initial $100. But in total the players started with $1,000 and ended with $1,000. It’s just been redistributed to different wallets.
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www.investopedia.com

Why Do Bitcoins Have Value?

Bitcoin is touted as a private, decentralized digital currency. But what gives the leading cryptocurrency value?
www.investopedia.com www.investopedia.com
 
#2,366
#2,366
It takes a little non-traditional thinking, but CCs exist in just as real a manner as gold, paper bills, and tulips. You can't separate them: the blockchain IS their existence. And it's secure, decentralized, and with verified accuracy and authenticity.
 
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#2,367
#2,367
kiddiedoc said:
www.investopedia.com

Why Do Bitcoins Have Value?

Bitcoin is touted as a private, decentralized digital currency. But what gives the leading cryptocurrency value?
www.investopedia.com www.investopedia.com
Click to expand...

Bitcoin can be used to store value, but it’s really to volatile to be a good source of capital that pays a return to lenders. But my question is how do crypto assets create value, not store it. Especially the thousands of coins being created without the established rules of money? Countries stand behind and control their currencies. Who stands behind the new coins constantly being created out of nothing?

They seem to be speculative, non-income generating assets. The earliest to sell after some appreciation are just taking value from those later to the party.
 
#2,368
#2,368
kiddiedoc said:
It takes a little non-traditional thinking, but CCs exist in just as real a manner as gold, paper bills, and tulips. You can't separate them: the blockchain IS their existence. And it's secure, decentralized, and with verified accuracy and authenticity.
Click to expand...

Gold has value as an industrial input and to create goods for consumers. It’s also finite while CCs are constantly being created. Paper bills are backed by governments. Some like dollars, pound, Euros, etc are stable and hold their value. They won’t be printed in too large of quantities else they end up being best utilized as toilet paper (see Venezuela). Tulips are the best comparison to crypto.
 
#2,369
#2,369
The CC volatility is irrelevant because the transactions will take seconds and fees will be fractions of a penny. Most people outside will have no clue what is going on because they will not be using CC's they will be assigned stable coins that have smart contracts built into them which gives the issuers full control of how they get used. Automated Market Makers will be built with CC's stored using APY as rewards building up high TVL (Total Value Locked). The TVL will go up and down which again is irrelevant because the transactions are seconds and fees are pennies.

Below is a Decentralized Application that institutions are testing. It will be used to send ISO 20022 messages with liquidity between two entities. This is a huge upgrade from the current system that takes 3 days at minimum to settle. Most banks will use this to send stable coins referenced above but any tokenized asset or CC can be bridged with it.

ISO 20022 | Financial Messaging Simulator

Process transactions between financial institutions using the global financial messaging standard
www.coreum.com www.coreum.com
 
#2,370
#2,370
reecetn said:
The CC volatility is irrelevant because the transactions will take seconds and fees will be fractions of a penny. Most people outside will have no clue what is going on because they will not be using CC's they will be assigned stable coins that have smart contracts built into them which gives the issuers full control of how they get used. Automated Market Makers will be built with CC's stored using APY as rewards building up high TVL (Total Value Locked). The TVL will go up and down which again is irrelevant because the transactions are seconds and fees are pennies.

Below is a Decentralized Application that institutions are testing. It will be used to send ISO 20022 messages with liquidity between two entities. This is a huge upgrade from the current system that takes 3 days at minimum to settle. Most banks will use this to send stable coins referenced above but any tokenized asset or CC can be bridged with it.

ISO 20022 | Financial Messaging Simulator

Process transactions between financial institutions using the global financial messaging standard
www.coreum.com www.coreum.com
Click to expand...

Volatility is relevant for speculation. It also makes CCs less suitable as a place to store wealth and to be functional forms of borrowable money. Country currencies are lent out as capital. Those loans generate income for the owners of the capital. With a volatile principal the functionality as lendable money is greatly diminished.
 
#2,371
#2,371
Thunder Good-Oil said:
Volatility is relevant for speculation. It also makes CCs less suitable as a place to store wealth and to be functional forms of borrowable money. Country currencies are lent out as capital. Those loans generate income for the owners of the capital. With a volatile principal the functionality as lendable money is greatly diminished.
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Again Stable Coins will be bridged in seconds with fees in the pennies. The TVL is king.

To go a little deeper the arbitrage will be harvested in what is called a "continuous auction mechanism" made possible only because of the speed and cheap transactions of the XRPL. This will also be another huge incentive for liquidity providers. Having said that the stability would make the TVL pools less attractive.
 
#2,372
#2,372
reecetn said:
Again Stable Coins will be bridged in seconds with fees in the pennies. The TVL is king.

To go a little deeper the arbitrage will be harvested in what is called a "continuous auction mechanism" made possible only because of the speed and cheap transactions of the XRPL. This will also be another huge incentive for liquidity providers. Having said that the stability would make the TVL pools less attractive.
Click to expand...

Who regulates and manages the stable coins, how was their value created and by whom? How many of the thousands of CC coins fit the stable narrative?

Bitcoin alone has a market cap of over a trillion. The entire S&P 500 has a market cap of about $40 trillion supported by businesses that have been creating value for shareholders by producing goods and services for decades and centuries.

CCs are speculative assets. A few could have value if coupled with a regulatory structure to protect individuals. Those that aren’t finite are garbage. Those that create functionality need to not have their biggest advantages hiding money from governments and LEO agencies or to facilitate trade between rogue nations.
 
#2,373
#2,373
Thunder Good-Oil said:
Who regulates and manages the stable coins, how was their value created and by whom? How many of the thousands of CC coins fit the stable narrative?

Bitcoin alone has a market cap of over a trillion. The entire S&P 500 has a market cap of about $40 trillion supported by businesses that have been creating value for shareholders by producing goods and services for decades and centuries.

CCs are speculative assets. A few could have value if coupled with a regulatory structure to protect individuals. Those that aren’t finite are garbage. Those that create functionality need to not have their biggest advantages hiding money from governments and LEO agencies or to facilitate trade between rogue nations.
Click to expand...
I am sorry I thought everyone knew.

 
#2,374
#2,374
kiddiedoc said:
Have you done any reading or podcasts on crypto? I listened to a series a couple of years ago, and I learned a lot. Some of the uses of blockchain technology are decentralized finance, smart contracts, international currency transaction, verification of luxury items, web hosting/ design, several healthcare applications (insurance verification, payment, cloud EHR storage, etc), NFT design/marketing/trade, . . .

Once I really dove in, there's some incredible stuff out there and much, much more in the works. I was an admitted skeptic, but I have warmed considerably on the futures of crypto and blockchain.
Click to expand...
It's tech that isn't going anywhere but tradfi people would rather fade it than do any research. Meanwhile Blackrock is spending billions buying up Bitcoin because they know. Swim with the whales.
 
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#2,375
#2,375
Thunder Good-Oil said:
Gold has value as an industrial input and to create goods for consumers. It’s also finite while CCs are constantly being created. Paper bills are backed by governments. Some like dollars, pound, Euros, etc are stable and hold their value. They won’t be printed in too large of quantities else they end up being best utilized as toilet paper (see Venezuela). Tulips are the best comparison to crypto.
Click to expand...
Bro did you just say dollar bills won't be printed to Zero? You must not live in America because it's literally happening in real time
 
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