puranjay

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241.
by puranjay 5y ago
The sad part is that no one seems to care. Rather, they will be cheered on by their supporters.
242.
by puranjay 5y ago
I make it a point to support small businesses that are creating interesting products, even if I learned about them from ads.
243.
by puranjay 5y ago
Seems so absurd to me that we already have the solution to our energy problems - nuclear. But for some reason we just don’t want to use it.
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by puranjay 5y ago
You do have a point there. Crypto does have a massive fraud problem. And I'll admit that so far, it's been a net negative for society. I'm hoping this will change as the ecosystem matures.
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by puranjay 5y ago
Complex onboarding is still better than not having access to the markets at all. I don't really understand the resistance about this - an imperfect process is always better than no process. Could things be improved? 100% yes. But that
246.
by puranjay 5y ago
You're seeing this from a western, first world perspective. If you're in a third world country, you likely don't have access to robust, transparent local stock markets. Whatever exchanges might exist tend to be rife with scam
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by puranjay 5y ago
But then the amount would be 1/1000 and it wouldn’t be financially lucrative enough
248.
by puranjay 5y ago
The core problem is that no mature economy will have any need to accept BTC payments. Their native currency will likely be stable and they'll also have infrastructure to support fast, cheap payments via legacy means. There is really no
249.
by puranjay 5y ago
he just has to tweet something remotely bearish and the market craters The last time he cracked a joke about BTC maxis and sure enough, the market dumped. When he talked about BTC's eco impact, it dumped hard as well. You can trace the
250.
by puranjay 5y ago
My thesis for longing/shorting BTC at this point is purely Elon Musk's tweets
251.
by puranjay 5y ago
Here in India, I can make transfers via UPI for free. For larger amounts, I can use IMPS which costs INR 5 ($0.067). Both are instant and have highly usable apps from trustworthy providers.
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by puranjay 5y ago
you still need a way to turn that BTC into cash you can use daily, and that requires an on/off ramp. For any large amount, P2P is out of the question. You will need to go through an exchange which will have to comply with the local law
253.
by puranjay 5y ago
International transfers are a mess but domestic transfers in my country are open 24x7 and are instant with minimal or even no fees. Payments is a solved problem technologically. It's only American banks that refuse to get with the time
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by puranjay 5y ago
Most people don't know this but Tether and Bitfinex have the same parent company, iFinex. Bitfinex is easily the largest manipulator of BTC price and their wallet holds nearly 1% of the BTC supply. Together, they practically control th
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by puranjay 5y ago
This is the "return to normal" pump before the crash.
256.
by puranjay 5y ago
If anyone is looking to short BTC and doesn't trust any CEX, I recommend Dydx.exchange, which is completely decentralized.
257.
by puranjay 5y ago
Its the end of the bull run and $250k rugs/exploits are about as common as rainy days in London.
258.
by puranjay 5y ago
I lost money in this. AMA I guess?
259.
by puranjay 5y ago
You’re essentially buying a token that’s pegged to the price of a stock. You don’t have the same benefits as the actual stockholder, but you do get exposure to the price appreciation. I get it that its not the same thing, but if your intent
260.
by puranjay 5y ago
The utility, to me, seems to be creating a global financial market that is truly trustless and permissionless, aka no gatekeepers. Right now, if I want to buy American stocks, I have to go through the handful of brokers licensed to sell for
261.
by puranjay 5y ago
Create a Metamask account and send your crypto to your address. Works with all ERC-20 tokens
262.
by puranjay 5y ago
Its become a whole lot more complicated with DeFi. You might have made your profits from yield farming, lending, airdrops, etc. Its not simply a matter of “bought low, sold high”.
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by puranjay 5y ago
Yeah, on-off ramps might be hard in India very soon. The RBI has no fondness for crypto. Don’t think a ban is coming but I do think we will have to rely on P2P to on/off ramp - not a great solution when large sums of money are involved
264.
by puranjay 5y ago
Important question - I hope OP can answer. Too many people I know haven’t instructed their dependents how to access their crypto.
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by puranjay 5y ago
These memecoins don’t even pretend to care about lending and staking and farming. Its literally about just buying the coin and hoping someone pumps it. The most traded coins right now according to CoinGecko are almost entirely memecoins wit
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by puranjay 5y ago
I once tracked newly listed pancakeswap pairs. Literally 98% of then rugged within 2-3 hours of launch.
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by puranjay 5y ago
I’ve been an ardent defender of crypto as my comment history would indicate. But man the past few months, the doge coin mania has birthed an astonishing amount of scams, rugpulls and zero-utility coins. I really can’t defend crypto at this
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by puranjay 5y ago
I think the ETH network and the idea of smart contracts is extremely potent, but its primarily being utilized to furnish scams at the moment. The crypto bull market brings out all sorts of scam artists and actively stifles innovation. Crypt
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by puranjay 5y ago
BSC’s only success was in enabling newer and higher tiers of scams Its not called Binance Scam Chain for nothing
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by puranjay 5y ago
Right now, if I want to invest in US stocks, I have to go through a handful of local brokers. They want a minimum of 10k inr in the trading account. I have to clear kyc and get my account approved. Once approved, they can shut down the acco

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