rawtxapp

60 ms·

601.
by rawtxapp 6y ago
Unless it's overcollateralized similar to what maker does with DAI. And if there was a bank run, that would a bank run by people trying to exit tether, so you'd expect to see a temporary increase in BTC price.
602.
by rawtxapp 6y ago
They don't invest in tether, it's just a means of moving money between exchanges like you say or temporary hold between trades.
603.
by rawtxapp 6y ago
I believe it's an open secret that tether is not backed by $ 1 to 1. If I remember correctly, they admitted that somewhere around 80% was backed by cash and the rest in collateral. Not sure how much you can trust what they say anyways.
604.
by rawtxapp 6y ago
Lightning network is currently functional if you plan on making lots of transactions, you pay the fee once and use it as much as you want.
605.
by rawtxapp 6y ago
Lots of early holders have either sold at local maximums or lost their keys all together. It's estimated that 3-4M BTCs are permanently lost. There's certainly some concentration, but I'm willing to bet it's much less th
606.
by rawtxapp 6y ago
I believe it's still selling a major discount from it's true value, so you definitely didn't miss out. It makes sense to put a small % of your portfolio in as part of risky bets you should consider taking.
607.
by rawtxapp 6y ago
The fact that it can't be banned is one of the main selling points.
608.
by rawtxapp 6y ago
Nope, you're still benefiting from the base layer's security while being able to transact much faster and cheaper on layer 2.
609.
by rawtxapp 6y ago
Likely trust, security and network effects.
610.
by rawtxapp 6y ago
It would be extremely costly and if you were to already invest all that money, your incentive is to make money from it, not cause a very short term disruption.
611.
by rawtxapp 6y ago
It has been climbing pretty nicely: assetdash.com.
612.
by rawtxapp 6y ago
As long as there's no bugs in the smart contract, I don't plan on ever paying down that debt, since I expect the value of BTC to rise much faster than the value of my debt. My liquidation price is very low and if it were to reach
613.
by rawtxapp 6y ago
This is very similar to what I'm currently doing, just borrowing against my Bitcoin holdings using MakerDAO, I have good liquidity on a day to day basis and my Bitcoin is still appreciating.
614.
by rawtxapp 6y ago
You seem dead set on thinking Bitcoin is trash, can you say more about why you think no useful innovation is happening here? I'm legit curious as to how much have you researched bitcoin? How familiar are you with things like defi?
615.
by rawtxapp 6y ago
The beauty of decentralization is that they can't stop it. Sure, a country can ban it and the price might drop temporarily, but a) that would just create a black market for it, b) they would be left behind while other countries that em
616.
by rawtxapp 6y ago
1) TPS isn't the only thing that matters, 2) TPS on L2 such as lightning is both extremely fast and very cheap. Ethereum is also going to have an L2 because it makes a lot of sense.
617.
by rawtxapp 6y ago
That is not true, when you have billions of dollars at stake you need to be a lot more careful with the changes you're going to implement, otherwise, it would jeopardize the whole network. There are many upgrades that have and are happ
618.
by rawtxapp 6y ago
@sideburns, Visa is not worried because they are going to start offering crypto payments.
619.
by rawtxapp 6y ago
1) I can use it to transfer monetary value, which is good enough for me, 2) the market puts it's current value at 45k$, 3) doesn't change the fact that central planning has created a very fragile economy.
620.
by rawtxapp 6y ago
Old entrants that may have bought it because they believed in it pushing it to mainstream. How do you feel about the government that's about to print 1.9 trillion dollars, therefore devaluing your money?
621.
by rawtxapp 6y ago
The value they created is a currency that's not controlled by a select few people.
622.
by rawtxapp 6y ago
100% agree, there should be a carbon tax on everything that pollutes the environment.
623.
by rawtxapp 6y ago
Well if the price increased at 1$, and you didn't sell any, you risked it going back to 0$. From that perspective, there's a risk holding on to it.
624.
by rawtxapp 6y ago
It was considered worthless at the time so many weren't careful with it. People are going to be a lot more careful when their coins are priced at 44k+.
625.
by rawtxapp 6y ago
A lot of the early adopters have either permanently lost their coins or sold it local maximums, very few people would have hold on to it that long. And you can argue that if they had that kind of strong belief, they should receive some rewa
626.
by rawtxapp 6y ago
As long as it stops a few people in the world controlling the money supply, that's a big win from my perspective.
627.
by rawtxapp 6y ago
Unfortunately, when you sell or use Bitcoin to buy anything, you trigger capital gains tax on it.
628.
by rawtxapp 6y ago
That's been the case for a very long time, example: https://news.ycombinator.com/item?id=20385116 is flagged. I might be wrong, but I think it comes down to a lot of tech people on here being aware of Bitcoin early on,
629.
by rawtxapp 6y ago
I'm one of these holders who hold to avoid cash depreciation, I don't plan on ever selling a single satoshi. Now you might ask, what's the point then, are you not gonna spend it at all? With many new defi projects, I can unlo
630.
by rawtxapp 6y ago
@s1artibartfast, then it comes down to, who decides what's considered useful? In many ways, the market does, right? If it was useless trash, it wouldn't have any value, but that's clearly not the case.

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