Dave86ch Posted August 23 Share Posted August 23 On 5/23/2024 at 8:36 AM, Dave86ch said: Tether is the 19th largest holder of US Treasuries, and USDT operates on the Ethereum VM. They regularly reinvest their profits in Bitcoin. The US might face some trouble if the blockchain were to disappear tomorrow. There is a game theory at play in converting the old and unreliable US debt protocol for value into a fully digital money protocol for value. It's a checkmate situation, and someone's denial does not change the facts. Separating money from the state is never thought to be an easy task; it takes time. On 5/23/2024 at 8:36 AM, Dave86ch said: Tether is the 19th largest holder of US Treasuries, and USDT operates on the Ethereum VM. They regularly reinvest their profits in Bitcoin. The US might face some trouble if the blockchain were to disappear tomorrow. There is a game theory at play in converting the old and unreliable US debt protocol for value into a fully digital money protocol for value. It's a checkmate situation, and someone's denial does not change the facts. Separating money from the state is never thought to be an easy task; it takes time. Link to comment Share on other sites More sharing options...
gfp Posted August 23 Share Posted August 23 (edited) Who needs an audit if Howard says "don't worry it's all there" and risks are well managed! Good enough for me. I mean, when has a stable coin ever f*ed up? Meanwhile, I am highly skeptical the US Government has any trouble finding buyers for their t-bills. Why are people eager to put their capital into a vehicle that buys T-bills but instead of paying the substantial interest on their USD denominated capital to them, some guy who doesn't want an audit keeps their substantial t-bill interest for himself and buys Bitcoin with it? Edited August 23 by gfp Link to comment Share on other sites More sharing options...
Dave86ch Posted August 24 Share Posted August 24 17 hours ago, gfp said: Who needs an audit if Howard says "don't worry it's all there" and risks are well managed! Good enough for me. I mean, when has a stable coin ever f*ed up? Meanwhile, I am highly skeptical the US Government has any trouble finding buyers for their t-bills. Why are people eager to put their capital into a vehicle that buys T-bills but instead of paying the substantial interest on their USD denominated capital to them, some guy who doesn't want an audit keeps their substantial t-bill interest for himself and buys Bitcoin with it? Cantor Fitzgerald is one of the 24 primary dealers authorized to trade U.S. government securities directly with the Federal Reserve Bank of New York. Link to comment Share on other sites More sharing options...
gfp Posted August 24 Share Posted August 24 5 hours ago, Dave86ch said: Cantor Fitzgerald is one of the 24 primary dealers authorized to trade U.S. government securities directly with the Federal Reserve Bank of New York. Yes I am well aware. Link to comment Share on other sites More sharing options...
SharperDingaan Posted August 24 Share Posted August 24 (edited) ETH ... The reality is that ETH is obsolete from the business POV. It is the old world give me development cash for a functional token (running on an ERC code) that does something ... vs the new world of bypass the token entirely and pay only for the demonstrated functionality as/when needed with CBDC. No developer risk, no inventory of non-liquid token with minimal cash value, don't pay if it can't do. Startup developers nightmare. ETH is obsolete processing. It is far cheaper to simply buy capacity on someone else's high capacity private ledger that includes smart contract capability; no different to the everyday make vs buy decision that all businesses do every week. However it will not takeoff until a MicroSoft offers this to the masses the same way that it offers Excel, Word, Access, etc. Not tomorrow ...but the fuse is clearly burning. Marketing wise, ETH is a failure because there is no mass product (ie: MS Office). Functionally, it's purely a startup development tool within the tech community, a step up from a Go Fund Me campaign; serves a purpose, but it's never going to be mass market. It is also questionable whether ETH or CBDC/T-Bills better diversify a crypto portfolio. Do your own back tests before forming an opinion ... Tech has little choice but to sing praises to ETH as it is a development funding tool. However, everyone else doesn't have to swallow the Kool-Aid. SD Edited August 25 by SharperDingaan Link to comment Share on other sites More sharing options...
Dave86ch Posted August 25 Share Posted August 25 17 hours ago, SharperDingaan said: ETH ... The reality is that ETH is obsolete from the business POV. It is the old world give me development cash for a functional token (running on an ERC code) that does something ... vs the new world of bypass the token entirely and pay only for the demonstrated functionality as/when needed with CBDC. No developer risk, no inventory of non-liquid token with minimal cash value, don't pay if it can't do. Startup developers nightmare. ETH is obsolete processing. It is far cheaper to simply buy capacity on someone else's high capacity private ledger that includes smart contract capability; no different to the everyday make vs buy decision that all businesses do every week. However it will not takeoff until a MicroSoft offers this to the masses the same way that it offers Excel, Word, Access, etc. Not tomorrow ...but the fuse is clearly burning. Marketing wise, ETH is a failure because there is no mass product (ie: MS Office). Functionally, it's purely a startup development tool within the tech community, a step up from a Go Fund Me campaign; serves a purpose, but it's never going to be mass market. It is also questionable whether ETH or CBDC/T-Bills better diversify a crypto portfolio. Do you own back tests before forming an opinion ... Tech has little choice but to sing praises to ETH as it is a development funding tool. However, everyone else doesn't have to swallow the Kool-Aid. SD I'm not a fan of PoS, but still, the market for stablecoins is growing fast. Link to comment Share on other sites More sharing options...
james22 Posted August 25 Share Posted August 25 Sam Bankman-Fried, a personal verdict His crime was of a piece with his character. The character wasn’t the character of a thief. It was the character of a person numb to risk. Unable to feel risk himself, he can’t really imagine other people feeling much at all about the risk he has subjected them to. It’s this absence in him that leads him, when cast in a certain light, to seem vulnerable. Easy to kidnap, easy to steal from. It’s this absence that, cast in a different light, makes him seem like a danger to society. I could be wrong: Mine is just one more theory of a case complicated enough to support many theories. And even if I’m right, it’s no excuse. In the end, some coins should never be flipped. https://archive.is/Lj2bI#selection-413.144-413.157 Link to comment Share on other sites More sharing options...
Fly Posted August 25 Share Posted August 25 13 hours ago, Dave86ch said: I'm not a fan of PoS, but still, the market for stablecoins is growing fast. Why not run stablecoins on BTC/LN or similar L2 setup? Link to comment Share on other sites More sharing options...
Dave86ch Posted August 26 Share Posted August 26 A redemption system is challenging to implement through Bitcoin's opcodes without some central authority. However, solutions like the Liquid Network offer a system based on a certain level of trust that leverages Bitcoin's proof-of-work. https://blockstream.com/liquid/ Link to comment Share on other sites More sharing options...
gfp Posted September 1 Share Posted September 1 (edited) If these NFTs don't get the last of you intellectual stragglers on board for the future I don't know what will! Now get your dough over to World Liberty Financial before its too late! https://x.com/worldlibertyfi?ref_src=twsrc^tfw|twcamp^tweetembed|twterm^1829141447087648796|twgr^b5d1068ca5352a591e14fff3944e33add3de5045|twcon^s1_&ref_url=https%3A%2F%2Fwww.bloomberg.com%2Fnews%2Farticles%2F2024-08-29%2Ftrump-says-he-ll-announce-a-plan-to-make-us-the-crypto-capital-of-the-planet "Beware of Scams" says the bio Edited September 1 by gfp Link to comment Share on other sites More sharing options...
james22 Posted September 4 Share Posted September 4 Link to comment Share on other sites More sharing options...
james22 Posted September 6 Share Posted September 6 Link to comment Share on other sites More sharing options...
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