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Everything posted by goldbug9999

  1. But your mate, who has the inside track that even billionaire investors dont have, says its all going to be banned, so were good right ?.
  2. Right now staking is just noise, 5-10% a year vs average yearly gains of 180% (for bitcoin). When we top out in the s-curve it might become worth it though. I do wonder if someone will legally challenge the govs right to tax bitcoin gains now that it is an official foreign currency as no CGT tax on official currencies is I believe part of the UN charter (you could still be liable for income tax though for frequent trading).
  3. Lightning is pretty easy - you just scan a QR code and click "send". Having to explicitly fund a channel also limits your loss in the event you fat finger it somehow.
  4. Long term stay in eth/btc, the other are only good for short term speculation (IMO of course). Also by historical norms, such as they exist in crypto, BTC dominance is quite close to its all time low. Only BTC and eth have any true economic inertia behind them. Also BTC and eth still have massive upside potential. Punt a small amount on binance and try and short term trade some alts, you will realise its much harder than it looks to out perform BTC.
  5. Its trading volume is tiny - very sus IMO. The total supply looks like some magic made up number to me which would make its alleged "cap" also basically fiction, I mean I'm supposed to believe that something that is essential a 2017 style ICO (its not even a new chain offering new functionality) is somehow in the top 5 coins now ?. Of course crypto is full of bizarre things like BSV still being non-zero so who knows ... of course I cant argue with your gains and I'd definitely be taking some off the table if I were you (I think you said you were going to use it pay off your mortgage, probably a good plan).
  6. Its part of the smart contract logic. Bare in mind that yields are a zero sum game since more coins are printed for the yield thus if a coin has "yield" of 10% PA then that means 10% issuance/inflation thus the inflation cancels out the supposed benefit of the yield. I view Hex as extremely risky and wouldn't recommend anyone new to cypto go anywhere near it. Yes Marky has made out like a bandit but to me what he did was tantamount to going into a casino and putting a couple of hundred grand on black even numbers and got lucky, I mean this was a much wilder gamble even than speculating a bunch of top 50 lower cap alts. In terms of risk ranking I would rank approaches like this (lowest first): Bitcoin only Bitcoin plus Ethereum Bitcoin plus a selection of top 10 coins Bitcoin plus a selection of top 20 coins Selection of top 20 alts only Selection of top 50 low cap alts only All in on some some top 20 alt All in on some top 50 alt All in on Hex.
  7. OK I didnt see that, I was going by the article 7 in the legislation.
  8. OK its one thing to invest in Hex which is an ethereum smart contract but actually trust known scammer RH directly with actual money ?? - youd have to be stark raving mad.
  9. Yep, vendors do have to accept it, unless they can show they "lack access to appropriate technology" which means a smartphone, which almost everyone in El Salvador has ...
  10. Its a minor drawback when the tradeoff is near infinite scalability - way in excess of what any other crypto is capable of.
  11. https://www.coindesk.com/citigroup-is-gearing-up-to-trade-cme-bitcoin-futures-sources U.S. banking giant Citigroup (NYSE: C) is awaiting regulatory approval to begin trading bitcoin (BTC, -2.69%) futures contracts on the Chicago Mercantile Exchange (CME), according to a source within the bank who asked to remain nameless. The bank is said to be fielding a surge in client demand for cryptocurrency exposure as bitcoin again mounts a climb toward $50,000. Citi, which is still working through the necessary regulatory approvals, would join fellow megabank Goldman Sachs in offering bitcoin futures trading. A second person familiar with cryptocurrency derivatives markets said Citi is actively recruiting people to join a crypto-focused team in London, adding:
  12. https://www.forbes.com/sites/billybambrough/2021/08/23/bankers-issue-seismic-warning-bitcoin-ethereum-bnb-cardano-and-xrp-could-replace-the-dollar-in-just-five-years-as-crypto-market-price-adds-1-trillion/?sh=69bfec479ac0 "We uncovered several findings that illustrate a seismic shift in financial services resulting from the evolution of blockchain-based digital assets," consultants led by Linda Pawczuk at the accountancy company Deloitte wrote alongside a report that found 76% of finance professionals think bitcoin and crypto could serve as an alternative to or replacement for fiat currencies in the next five to 10 years.
  13. If you're talking about El Salvador then yes it is really legal tender as a vendor has to accept it if offered for payment, and government has to accept it as payment for taxes.
  14. It makes sense for a country that cant issue its own currency as unlike the $ they wont be importing US inflation.
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