joyfylbanana

7 ms·

1.
by joyfylbanana 4y ago
I wonder how much CFTC employees were placing those crypto futures and options before the announcement.
2.
by joyfylbanana 4y ago
The so-called DeFi is full of centralized choke points, such as stablecoins and other centrally issued securities
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by joyfylbanana 4y ago
People who can use VPN
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by joyfylbanana 4y ago
That's why it pays.
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by joyfylbanana 4y ago
From board perspective it is difficult, because it is difficult to find CEO to do the layoffs and start strategy work again. It is just easier to keep the previous CEO if he is willing to do the dirty work.
6.
by joyfylbanana 4y ago
The excessive hiring before the market downturn was also copycat behaviour, not about about having good investment ideas. Now everyone has realized that they were in a mass-psychosis, and start having mass-sensibility instead.
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by joyfylbanana 4y ago
The biggest difference is, that with financial debt you basically always have to pay it back in a way or another. With technical debt in startup context, it happens very often that you don't have to pay it back (failures). It is quite
8.
by joyfylbanana 4y ago
If you are transacting in a business environment, I think it is an added benefit if the counterparty in the transaction can't deduce information out of your transaction. Such as how much assets you have, to what other services have you
9.
by joyfylbanana 4y ago
I still use only BTC and the reason why I use it is not because it is so great technically, I just don't like fiat.
10.
by joyfylbanana 4y ago
That sentence doesn't make any sense. People can become merchants whenever they want for example at flea market, then suddenly they receiving at taler works for them?
11.
by joyfylbanana 4y ago
This project never made any sense. Move on.
12.
by joyfylbanana 4y ago
Looking at the downward trend in volumes, I suspect the profits come from the results of selling their bitcoins they have been holding in the balance sheet, the service itself is unprofitable.
13.
by joyfylbanana 4y ago
The acceptance of bitcoin payments at the grassroots level is still happening. With the Lightning Network, it's quite viable these days. I've been following https://btcmap.org/map off and on, and new merchants and
14.
by joyfylbanana 4y ago
LocalBitcoins stopped providing the "in-person" model years ago. Also it really wasn't a business for them as people don't need the escrow service for that. They became regulated, implementing all KYC and AML stuff and I
15.
by joyfylbanana 4y ago
Their volumes have been getting smaller and smaller throughout the years. Likely reason is that the service just isn't profitable any more. Their volumes are public: https://coin.dance/volume/localbitcoins These d
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by joyfylbanana 4y ago
Yeah, let's say that it is incompetent management. As an business owner, you can fix the situation either by forcing people into offices, or firing the bad managers and recruiting a competent management instead. To me the latter soluti
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by joyfylbanana 4y ago
I think the macroeconomic trend is that the work is moving slowly to poorer countries. Makes perfect sense, as in US there is a lot of money, it should mean less desire to work and more to enjoy life, meanwhile in poorer countries people ha
18.
by joyfylbanana 4y ago
Managers don't have much idea what employees are doing, them being on site gives them a feeling of things being in control. It is not that surprising, if you think about it business on all level is just a guessing game, and people try
19.
by joyfylbanana 4y ago
> I hope people in other areas of the world wise up to this and ask for 1st rate salaries and benefits LOL. That's totally out of touch. It is not about them "wising up". There are quite lots of different dynamics here at
20.
by joyfylbanana 4y ago
It is always the employees telling these stories, but how managers are supposed to know if they are really working? When they are at the office the see it with their own eyes. Common counter argument to this is that the manager sucks becaus
21.
by joyfylbanana 4y ago
I'm not a direct employer, mostly an investor and solo entrepreneur who has low likelihood of ever employing people again. Used to be a big employer until sold my company. Personally I have seen lots of different work in my previous wo
22.
by joyfylbanana 4y ago
Looking through the chat, it doesn't seem to me that CZ is suspecting SBF with just this $250k trade. To me it looks like he is suspecting that SBF is doing something shady, and the $250k trade is just a tiny example of that activity.
23.
by joyfylbanana 4y ago
Though for many normal people it was also about buying drugs online which could be seen as "get free from the government" kind of thing
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by joyfylbanana 4y ago
Depends on how they communicate with the user. If their terms say that they are allowed to convert other USD-pegged tokens to BUSD, fine.
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by joyfylbanana 4y ago
> we're all here in this space because we want decentralized censorship-proof, public recorded transactions dude what. no. the majority of people are "here" just wanting the numbers go up in the closed-source centralized d
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by joyfylbanana 4y ago
Probably not dollars, but some kind of low-risk assets like USD bonds? In that case you also can't just withdraw dollars, you have to sell the bonds - if they have to convert large amount like hundreds of millions, the spread on those
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by joyfylbanana 4y ago
Yes they do, they announced it a while back. It is certainly interesting way to handle customer assets.
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by joyfylbanana 4y ago
I think what is interesting here is that they clearly don't have 1:1 USDC reserves. And as their compliance has been questioned by many in the past might be that they might not be able to convert large amounts of BUSD to USDC, not at l
29.
by joyfylbanana 4y ago
The article doesn't claim that he is a supergenius. He might be just dumb fuck giving those interviews. But anyway his one and only objective is avoiding jail and I think that is true. He doesn't give a fuck about customers etc, h
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by joyfylbanana 4y ago
Apple should be given a medal for making it harder to trade NFT's. Those are bad for you.

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