The ASR Cryptocurrency thread

[stevenswall]

Three Men Arrested in $722 Million Cryptocurrency Fraud Scheme

www.justice.gov

If someone commits fraud selling cars, does that mean cars are bad?

Bitcoin can't be manipulated the same way the US dollar and social security can if you want to look at a crap currency and actual pyramid scheme.

 

[Pdxwayne]

If someone commits fraud selling cars, does that mean cars are bad?

Bitcoin can't be manipulated the same way the US dollar and social security can if you want to look at a crap currency and actual pyramid scheme.

Sure. Go ahead and use crypto exclusively for your day to day life.

: P

 

[GaryH]

Sure. Go ahead and use crypto exclusively for your day to day life.

: P

You already can in El Salvador, they've made it legal tender.

 

[Chromatischism]

The use cases are emerging and are very interesting.

I sent a small amount of Bitcoin to my mother and it took about 30 minutes to arrive during a time of high network traffic - still much faster than the bank.

I have sent Solana to another account of mine to earn 7.5% APY and the transfers typically take less than 1 minute at a cost of pennies, or a fraction of one.

For these reasons I see blockchain and smart contracts as disruptive technologies. Disruptive to the traditional finance sector in terms of lending, borrowing, earning yield, and peer-to-peer money transfers.

 

[julian_hughes]

The use cases are emerging and are very interesting.

I sent a small amount of Bitcoin to my mother and it took about 30 minutes to arrive during a time of high network traffic - still much faster than the bank.

I have sent Solana to another account of mine to earn 7.5% APY and the transfers typically take less than 1 minute at a cost of pennies, or a fraction of one.

For these reasons I see blockchain and smart contracts as disruptive technologies. Disruptive to the traditional finance sector in terms of lending, borrowing, earning yield, and peer-to-peer money transfers.

Using my phone or PC or tablet I can send £ sterling instantly and at no cost from my regular UK bank account to any other UK bank account. This has been the case for maybe 10 or 15 years.

 

[Chromatischism]

Using my phone or PC or tablet I can send £ sterling instantly and at no cost from my regular UK bank account to any other UK bank account. This has been the case for maybe 10 or 15 years.

Clearly we are behind the curve here in the U.S. of A

Usually funds don't clear for 1-3 days.

 

[stevenswall]

Sure. Go ahead and use crypto exclusively for your day to day life.

: P

There are payment cards that convert from whatever you want to hold to whatever currency you need to spend. I was a beta tester for one such card from Uphold. It's already a thing for those who want it.

Hopefully people start thinking of money as money, rather than just BS currency, as currency conversion and crypto conversion should and will likely become incredibly cheap, trivial, and transparent to the user.

 

[Astrozombie]

My brother wants to build a PC for Ethereum and i'm telling him not to bother.....................oh boy

 

[Chromatischism]

My brother wants to build a PC for Ethereum and i'm telling him not to bother.....................oh boy

A year ago I would have said yes. Now, with Ethereum in its last few months/year of Proof of Work, I don't know that you'll get a full return on your investment before Eth 1 mining rewards stop. At least you'll have a great gaming computer.

 

[Chromatischism]

There are payment cards that convert from whatever you want to hold to whatever currency you need to spend. I was a beta tester for one such card from Uphold. It's already a thing for those who want it.

Hopefully people start thinking of money as money, rather than just BS currency, as currency conversion and crypto conversion should and will likely become incredibly cheap, trivial, and transparent to the user.

I thought this was pretty cool: https://news.yahoo.com/voyager-digital-launches-debit-card-223346846.html

 

[mansr]

There are payment cards that convert from whatever you want to hold to whatever currency you need to spend.

I like American Express.

 

[julian_hughes]

Clearly we are behind the curve here in the U.S. of A

Usually funds don't clear for 1-3 days.

I remember being in India in the early 2000s and finding that their banking system had just started to support instant electronic transfer within India, while in UK we were still waiting. Countries with poor wired telecoms infrastructure or huge logistical challenges went all in for mobile internet as soon as they could and were well ahead of US & Europe in this kind of payment facility.

 

[stevenswall]

I like American Express.

I like endcap ribeye steaks.

 

[Chromatischism]

Bitcoin network settling an average of $95K for every $1 in fees

Bitcoin network value settlement efficiency has improved over the past six months but Ethereum’s has steadily declined.

cointelegraph.com

 

[NDRQ]

Some light at the end of the tunnel. : https://www.euronews.com/next/2021/...-5c-paris-climate-goal-say-swedish-regulators

Maybe we can buy vga's again.

 

[Chromatischism]

No one mines Bitcoin with GPUs anymore. They use ASIC machines.

 

[cookiefactory]

Most good faith crypto detractors (as opposed to bitter nocoiners) lack the background education necessary to place Bitcoin’s greatest value proposition into perspective. The Sovereign Individual should be required reading for those skeptics who want to debate the merits (or lack thereof) of crypto at a level beyond the same old banal talking points that dominate popular discourse.

 

[eddantes]

So... let me say it once again:

If y'all have found the 'fountain of youth' and are sitting pretty; why are crypto boosters so hell-bent to convince the rest of us to drink the coolaid? Why not just zip-the-lip and wink at fellow believers knowingly? Why make soo much noise about it? Why not just let the rest of us be swept into the dustbin of history, why y'all all smile and wave us off from the top of mount Ararat?

 

[mansr]

Most good faith crypto detractors (as opposed to bitter nocoiners) lack the background education necessary to place Bitcoin’s greatest value proposition into perspective.

"Your system isn't resolving enough."

 

[Blumlein 88]

Most good faith crypto detractors (as opposed to bitter nocoiners) lack the background education necessary to place Bitcoin’s greatest value proposition into perspective. The Sovereign Individual should be required reading for those skeptics who want to debate the merits (or lack thereof) of crypto at a level beyond the same old banal talking points that dominate popular discourse.

You meant this book I assume:

The Sovereign Individual: Mastering the Transition to the Information Age: James Dale Davidson, William Rees-Mogg: 8601300369709: Amazon.com: Books

The Sovereign Individual: Mastering the Transition to the Information Age [James Dale Davidson, William Rees-Mogg] on Amazon.com. *FREE* shipping on qualifying offers. The Sovereign Individual: Mastering the Transition to the Information Age

www.amazon.com