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Old 20th September 2021, 17:14     #881
Ajax
Architeuthis
 
Yeah, instead of cat shit, should have bought radioactive cat shit.
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Old 20th September 2021, 17:34     #882
Ab
A mariachi ogre snorkel
 
Quote:
Originally Posted by Ajax
^ The short answer is that various corrupt officials and crypto bros in President Bukele's inner circle talked him into it.
Which is a real shame, because there's a lot of work being done in the broad field of "cryptocurrency for the third world" and some of that stuff would be really genuinely useful for El Salvador.
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Old 20th September 2021, 17:37     #883
Ajax
Architeuthis
 
This fuckin' guy. Trolling but, deep down, also kinda serious.

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Old 21st September 2021, 16:32     #884
Lightspeed
 
Quote:
Originally Posted by Ab
ETH and ADA seem to be having a good week.
Boing-boing!
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Old 21st September 2021, 18:57     #885
Ab
A mariachi ogre snorkel
 
Bumped back to where they were, what, 10 days ago?
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Old 22nd September 2021, 13:48     #886
Lightspeed
 
Bit further back than that now. It'll keep on bouncing, no doubt.
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Old 22nd September 2021, 14:35     #887
Ab
A mariachi ogre snorkel
 
Of the coins I watch the movements that have caught my eye in the past couple of months are:
  • the stagnation of MATIC, which I had thought would have zoomed during a period of high ETH gas fees
  • the zooming of CELO, which is a nice little under-the-radar project targeting banking in developing countries. Perfect for a situation like El Salvador.
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Old 2nd October 2021, 17:37     #888
Ab
A mariachi ogre snorkel
 
mmm, smells like innovation

https://www.cnbc.com/2021/10/01/defi...-to-users.html
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Old 8th October 2021, 02:13     #889
Ab
A mariachi ogre snorkel
 
This is interesting, in a "is blogging cool again" kinda way:

https://mirror.xyz/

Basically... blog hosting on the Ethereum blockchain. It seems to work.
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Old 10th October 2021, 17:15     #890
Lightspeed
 
What I'm really hanging out for is full transparency consumerism.

The experience I have now is if I want a product, I do a series of searches to get a sense of what availability there is, at what price range. Depending on the product I might look local first, if only for shipping costs, but in many cases cause I'd be happy to support local. I might pay marginally or even significantly more for something local, depending on the product.

What I'd like in that process is to be able to exclude products from as choices. Like, show me every product of this kind, except ones that are shipped through these channels, or produced by these suppliers, transported through these regions, etc.

Partly to exclude drop-shippers, or even genuine wholesalers who buy through a sketchy industry or logistics systems. But I think there's lots of scope to be able to more easily manage your purchasing priorities, get better consumer results.

My experience right now is there's sometimes considerable diverse purchasing options, which is great, but sometimes that's obfuscating too. You'll see the same exact product for a variety of prices, through a variety of channels, of varying degrees of legitimacy. Rarely but certainly outright scams, to merely questionable reliability, to good faith consistent service, at least up to that point.

I'm at least quite often left with a feeling of uncertainty I actually made a reasonable purchasing decision. Maybe that super cheap option was legitimate? Maybe I could have gotten it shipped in half the time? Maybe I shouldn't have chosen Amazon? Etc.

Just gotta get it all on the blockchain.
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Old 11th October 2021, 10:28     #891
Ajax
Architeuthis
 


Diehl has not considered money laundering, ransomware, and trading for illegal shit on the darkweb. Crypto: the future of crime.
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Old 11th October 2021, 10:44     #892
Ab
A mariachi ogre snorkel
 
Every time I move money between countries I thank the crypto gods for that use case.
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Old 11th October 2021, 13:27     #893
Ajax
Architeuthis
 
Quote:
Originally Posted by Ab
Every time I move money between countries I thank the crypto gods for that use case.
Which crypto(s) are you using?
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Old 11th October 2021, 19:15     #894
Ab
A mariachi ogre snorkel
 
When I do that I use Stellar Lumens (XLM).
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Old 12th October 2021, 06:23     #895
Giblets
 
Quote:
Originally Posted by Ab
Every time I move money between countries I thank the crypto gods for that use case.
How long would your money be exposed between buying and selling? are we talking seconds/minutes or hours/days?
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Old 12th October 2021, 09:14     #896
Ajax
Architeuthis
 
Stellar uses stablecoins like USDC for fiat conversion. So, you're exposed to the inherent risk in using that coin. This is why full transparency in the backing of stablecoins is important - if the coin falls over then downstream users get fucked.
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Old 12th October 2021, 11:04     #897
Ab
A mariachi ogre snorkel
 
Say someone puts $10 in my NZ bank and I want to use that money here in Australia. Previously I would have had to order a telegraphic transfer between my nz bank and my au bank, so Iíd have to call a branch in Nz and talk to a bank manager and get told that thereíll be a $100 fee for moving my $10 and it might take 5 working days.

Now I log into a nz crypto exchange and buy $10 of XLM and it shows up in my XLM wallet. Then I log into an au crypto exchange and I buy AUD with the XLM thatís in my XLM wallet and I transfer the AUD to my au bank and now I have it. Time elapsed, maybe 60 seconds. Maybe 2mins. Costs: letís be extravagant and say a huge 1% of the transactions at each end, soÖ 20 cents. Perhaps the difference between buy price and sell price eats another 10 cents. End result: I have $9.70 in my pocket in 60 seconds, instead of nothing at all because whoíd pay $100 and 5 days to move $10?
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Old 12th October 2021, 12:29     #898
Ajax
Architeuthis
 
^ If you're buying and selling XLM directly then you're subject to potentially severe price fluctuations. XLM has lost up to a third of its value in a couple of days during market crashes. Also, the cashing-out process at the AU end is not likely to be instantaneous unless you're using the same bank as the crypto exchange. Finally, crypto exchanges are often on thin ice with their banks and large transactions may attract a high level of scrutiny.

TBH, Paypal more or less addressed the problem over 20 years ago and because it's a centralised service it removes many of the moving parts and risks (i.e. multiple crypto exchanges and their liquidity levels). The higher fees are the price you pay for greater assurance.
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Old 12th October 2021, 13:10     #899
Ajax
Architeuthis
 
If you could exchange XLM directly for goods and services at point of sale, and it was widely accepted by merchants, and its price was extremely stable.. that would be real progress. I suspect that the central bank digital currencies of the future would eventually cockblock this by regulating non-state cryptos out of existence.
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Old 12th October 2021, 14:27     #900
Ab
A mariachi ogre snorkel
 
Quote:
Originally Posted by Ajax
^ If you're buying and selling XLM directly then you're subject to potentially severe price fluctuations. XLM has lost up to a third of its value in a couple of days during market crashes. Also, the cashing-out process at the AU end is not likely to be instantaneous unless you're using the same bank as the crypto exchange..
I take your point, but I really donít care if XLM has price fluctuations in a couple of days. If Iím moving money I only care that it doesnít change much during the 60secs or so it takes to buy then sell. If Iím moving a big amount of money and I want peace of mind Iíll use a stablecoin instead.

Of the au exchanges Iíve used the AUD transfer times range from ďby the end of the business dayĒ (eg coinspot) to ďinstantĒ (eg binance). I like instant.
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Old 12th October 2021, 14:59     #901
Ab
A mariachi ogre snorkel
 
Quote:
Originally Posted by Ajax
If you could exchange XLM directly for goods and services at point of sale, and it was widely accepted by merchants, and its price was extremely stable.. that would be real progress.
I have one of these. I don't use it very often.
https://www.coinjar.com/au/card

It's still tied to the trad banking system though.
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Old 14th October 2021, 19:49     #902
crocos
 
Rodgecoin TO THE MOON!

https://www.youtube.com/watch?v=GUs5y9leCyA
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Old 16th October 2021, 10:06     #903
Ab
A mariachi ogre snorkel
 
BTC ATH about 30mins ago.
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Old 16th October 2021, 13:50     #904
Lightspeed
 
Dat bounce just keeps getting higher and higher.
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Old 19th October 2021, 03:18     #905
Ab
A mariachi ogre snorkel
 
Quote:
Tomorrow morning, ProShares will launch a long-awaiting exchange-traded fund on the New York Stock Exchange linked to Bitcoin futures, the firm and the exchange told DealBook

https://www.nytimes.com/2021/10/18/b...proshares.html
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Old 19th October 2021, 13:31     #906
Know me.
 
I thought the finding that tether only had 25% USD cash reserves and co mingled their corporate accounts with the tether accounts would have more of and impact than it did. Total disconnect from reality....to the moon!
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Old 21st October 2021, 13:04     #907
Nich
 
https://twitter.com/trustlessstate/s...213588483?s=21

Quote:
The juxtaposition of a DAO of homies buying a rare cultural artifact from the hands of a scumbag hedgefund manager is exactly the kind of positive PR that crypto needs.
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Old 21st October 2021, 13:34     #908
Ajax
Architeuthis
 
.

Last edited by Ajax : 21st October 2021 at 13:35.
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Old 21st October 2021, 13:35     #909
Ajax
Architeuthis
 
Quote:
Originally Posted by Know me.
I thought the finding that tether only had 25% USD cash reserves and co mingled their corporate accounts with the tether accounts would have more of and impact than it did. Total disconnect from reality....to the moon!
Tether's actual cash backing is about 3%. The rest is (allegedly) tied up in Chinese commercial paper and crypto. It's a huge house of cards that will eventually come crashing down.
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Old 21st October 2021, 14:30     #910
Ab
A mariachi ogre snorkel
 
Tether is just so fucking dodgy, I feel awful every time I use it. I feel like I've had to accept counterfeit currency in order to trade with someone who won't accept anything else.
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