Bitcoin....who's gotten into it?

[J. Barron DeJong]

I guess that regulation is coming. Tether is still somewhat opaque but they have improved their reporting, and I think they are backed by corporate bonds - are those called junk bonds? The big question was about Chinese debt, like evergrande, iirc.

USDC (Circle) is backed more securely, I think. They have quarterly accounting and they use treasuries and cash.

I'm no expert on stables, but that's what I can recall. Sorry if I got any of that wrong. It doesn't matter much to me, because I tie up my extra cash on Coinbase pro as limit orders. So it's just plain fiat while it's sitting there and not earning me any money.

Whether they’re ‘junk’ depends on quality of the corporate bonds. A ‘aaa’ rated bond should be very safe, and would certainly not be considered junk, but they’ll offer low yield.

I believe Tether has been pretty obscure regarding what ‘corporate bonds’ they’re actually holding? Speculation that it could be bonds from other crypto entities, which would certainly be risky, since a run on Tether likely coincides with a ruin on other crypto entities as well.

[shera]

sure

[dunfree]

Whether they’re ‘junk’ depends on quality of the corporate bonds. A ‘aaa’ rated bond should be very safe, and would certainly not be considered junk, but they’ll offer low yield.

I believe Tether has been pretty obscure regarding what ‘corporate bonds’ they’re actually holding? Speculation that it could be bonds from other crypto entities, which would certainly be risky, since a run on Tether likely coincides with a ruin on other crypto entities as well.

hey, they’ve given “statements of assurance” from dubious auditors they’ve got the funds, why worry?


you can make $300-400 a day walking your dog, what bubble?
https://techcrunch.com/2022/05/22/play-move-to-earn-solana-stepn-gamefi/

[frorider]

hey, they’ve given “statements of assurance” from dubious auditors they’ve got the funds, why worry?


you can make $300-400 a day walking your dog, what bubble?
https://techcrunch.com/2022/05/22/play-move-to-earn-solana-stepn-gamefi/

JFC.

Other critics question the financial sustainability of play-to-earn. Maintaining such a business model means the gameplay needs to be either so addictive that users continue to play without cashing out their coins, or that the app continues to attract new users who buy in only to replace those who cash out. Critics have even drawn parallels between play-to-earn to pyramid schemes.

[J. Barron DeJong]

https://twitter.com/raudaz_/status/1...jEu_OLzRqCVy3g

Going to go out on a limb here and assume that these aren’t ‘aaa’ rated. (Someone in the replies said Salvadorian bonds are paying 17%, and as Shera said, there’s your risk.)

[shera]

Billionaire Ray Dalio says he owns bitcoin, and its ‘greatest risk is its success’
https://www.cnbc.com/2021/05/24/bill...e-bitcoin.html

Though billionaire investor Ray Dalio, founder of the world’s largest hedge fund, Bridgewater Associates, has previously expressed concern about the future of bitcoin, he has also noted that the cryptocurrency earned his respect.

Now, he reveals, “I have some bitcoin,” Dalio told CoinDesk during its 2021 Consensus conference. The interview was recorded on May 6 and published Monday.

But Dalio maintains that the cryptocurrency still faces risk.

“Bitcoin’s greatest risk is its success,” he said.

And if it succeeds, “one of the great things, I think, as a worry is the government having the capacity to control ... bitcoin, or the digital currencies. They know where they are, and they know what’s going on,” he said.

“The more we create savings in [bitcoin], the more you might say, ‘I’d rather have bitcoin than the bond.’ Personally, I’d rather have bitcoin than a bond. And then the more that happens, then it goes into bitcoin and it doesn’t go into credit, then [governments] lose control of that.”

This isn’t the first time Dalio expressed concern about the risk of government regulation.

“I am not a bitcoin/cryptocurrency expert,” he wrote in a January post titled “What I Think of Bitcoin,” but “I suspect that Bitcoin’s biggest risk is being successful, because if it’s successful, the government will try to kill it and they have a lot of power to succeed.”

In March, Dalio warned of the possibility that the U.S. government could ban bitcoin as it did with gold during the 1930s if the cryptocurrency is seen as a competitive threat to Treasury bonds.

However, James Ledbetter, editor of fintech newsletter FIN and a CNBC contributor, previously told CNBC Make It that it’d be quite difficult for the government to effectively ban bitcoin.

Although there’s “concern or risk around regulation” of bitcoin, “I don’t think even a concerted effort among different countries and different central banks could actually shut down bitcoin,” Ledbetter said. “I don’t think that’s technologically possible. But there are ways that bitcoin could be regulated.”

Nonetheless, “the world is going to change at an incredibly fast pace,” Dalio told CoinDesk. “Whoever wins the technology race, wins it all, economically, and militarily. That’s what the next five years looks like.”

This little article is piggybacking off an interview Dalio did with CoinDesk: https://www.coindesk.com/markets/202...-some-bitcoin/

[4matic]

Safer than bonds!

[dunfree]

Ray “regulation is bad, but the PRC is the future” Dalio spins something

[4matic]

There’s some out of context too. He’s never been a bond guy and doesn’t need them.

[Vt-Freeheel]

Serious research

[up an down]

A 6 page article in the latest edition of Bloomberg Business Week about the successful ($16 million) hack against Indexed Finance. Bye bye store of value.

[JimmyCarter]

JFC

https://techcrunch.com/2022/05/24/fl...ing-from-a16z/

When you’re already a failure and a fraud, the next logical step is to start a crypto firm.

[dunfree]

A16z just raised $4.5 billion, what’s the downside?

[Vt-Freeheel]

JFC

https://techcrunch.com/2022/05/24/fl...ing-from-a16z/

When you’re already a failure and a fraud, the next logical step is to start a crypto firm.

Carbon credits are the biggest scam ever created. I have zero [0] respect for any person or company involved in this bullshit. FFS [For Fucks Sake] if you drive your car or run your business using petroleum products you are producing greenhouse gases and can't buy your way out of it. [period]

[LeeLau]

Carbon credits are the biggest scam ever created. I have zero [0] respect for any person or company involved in this bullshit. FFS [For Fucks Sake] if you drive your car or run your business using petroleum products you are producing greenhouse gases and can't buy your way out of it. [period]

Why are they a scam? Do you have expertise in the field?

EDIT - not trying to ambush you. Genuinely curious if you have direct experience

[simple]

Likely they mean carbon offsets are a "scam" like wetland banks are scheme to offset negative impacts in one area and transfer the credit to another party that assumes the liability.

The challenge is the quantification of the losses and gains are subject to lots of criticism. Especially how the quantification does not include the factor of time. The effort of nature to work without the anthropogenic process ruining it is difficult to put a monetary value on.

Anyway ....

[Vt-Freeheel]

Why are they a scam? Do you have expertise in the field?

EDIT - not trying to ambush you. Genuinely curious if you have direct experience

The carton credit business is built on polluters buying themselves green. How is right to wash your dirty business by buying "green credits" from, for example, someone in the Northeast Kingdom of VT that owns 2000 acres of forestland?
Carbon surveyors walk properties to inventory tree size/species makeup to determine how much carbon is sequestered therefore giving owners an amount of "credit" to sell to polluters.
None of this eliminates any carbon entering the atmosphere.[period] What it does is lines the pockets of brokers who came up with this "product". Landowners get money for nothing other than what their asset already produces. But the planet is defiantly getting scammed.
There might be some land that is saved from development, but the reality is most of this land isn't at risk of being cut to provide housing to families looking for a home.
Tying it to some crypto is just icing on the cake.

[up an down]

The carton credit business is built on polluters buying themselves green. How is right to wash your dirty business by buying "green credits" from, for example, someone in the Northeast Kingdom of VT that owns 2000 acres of forestland?
Carbon surveyors walk properties to inventory tree size/species makeup to determine how much carbon is sequestered therefore giving owners an amount of "credit" to sell to polluters.
None of this eliminates any carbon entering the atmosphere.[period] What it does is lines the pockets of brokers who came up with this "product". Landowners get money for nothing other than what their asset already produces. But the planet is defiantly getting scammed.
There might be some land that is saved from development, but the reality is most of this land isn't at risk of being cut to provide housing to families looking for a home.
Tying it to some crypto is just icing on the cake.

I agree based on my personal experience with a carbon credit program when I was a farmer , Northern Illinois, corn and soybean crops... The program I was asked to participate in was just a way for middlemen to make $ and the auditing process to validate the process was extremely lax... Totally useless to decrease greenhouse gases.

[bennymac]

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[NakedShorts]

Job Well Done here team Tram Dock Financial! Excellent descriptions of the Carbon game.

[MakersTeleMark]

The only thing I know about carbon is traders hitting the bong.

[neckdeep]

Carbon trading distills the American mindset to its essence: what ever the problem, no matter how large or how deadly serious, we can just buy our way out of it. We never need to sacrifice consumption. Nothing really changes on that front. We'll save the planet when everyone in the world has a Tesla and a nice house with a garage to charge it in.

It's a natural fit for crypto. Feel good bullshit spun up into gold. My only question is what took these parasites so long to think of this one...oh, right...up until a short while ago, people were flinging huge sums at incredibly lame pictures of apes so there was no need to pretend crypto is remotely connected to something that actually matters. Next, curated digital goods responsibly sourced from artisanal windmills maintained by happy indigenous people in accordance with their ancient cultural traditions.

In other words, its hard to market crypto with base appeals to greed when the space has been getting nuked for months on end. Enter the Neumanns, the notorious power couple whose one verifiable skill was convincing gullible investors that they had reinvented the real estate leasing industry when, in fact, they had done nothing of the sort. Another perfect fit.

[Vt-Freeheel]

Carbon trading distills the American mindset to its essence: what ever the problem, no matter how large or how deadly serious, we can just buy our way out of it. We never need to sacrifice consumption. Nothing really changes on that front. We'll save the planet when everyone in the world has a Tesla and a nice house with a garage to charge it in.

Isn't that what the Byrdes' are trying to do?

[byates1]

Keep in mind any global reserve asset is tied to proof of work.

Gold silver oil BTC. All derive value from work/scarcity.

BTC is far different from exotic far flung crypto projects and digital pictures

Also keep in mind that printing 5T, increasing the M2 by 40% is the greatest ponzi of all, and is responsible for the pain we are starting to feel.

[dunfree]

keep in mind that printing 5T, increasing the M2 by 40% is the greatest ponzi of all, and is responsible for the pain we are starting to feel.

crypto pumper, pumping trash, who’s seen the inflation of a trillion dollar utterly worthless market blames other things because he’s a moron