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submitted by /u/No-Comparison-9307 [link] [comments] |
Saturday, 29 April 2023
Bitcoin, Argentina, the IMF XDR & the Triffen Dilemma
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"The Triffin dilemma or Triffin paradox is the conflict of economic interests that arises between short-term domestic and long-term international objectives for countries whose currencies serve as global reserve currencies. This dilemma was identified in the 1960s by Belgian-American economist Robert Triffin, who pointed out that the country whose currency, being the global reserve currency, foreign nations wish to hold, must be willing to supply the world with an extra supply of its currency to fulfill world demand for these foreign exchange reserves, leading to a trade deficit. The use of a national currency, such as the U.S. dollar, as global reserve currency leads to tension between its national and global monetary policy. This is reflected in fundamental imbalances in the balance of payments on the current account, as some goals require an outflow of dollars from the United States, while others require an inflow. The Triffin dilemma is usually cited to articulate the problems with the role of the U.S. dollar as the reserve currency under the Bretton Woods system. John Maynard Keynes had anticipated this difficulty and had advocated the use of a global reserve currency called 'Bancor'. Currently, the IMF's SDRs are the closest thing to the proposed Bancor but they have not been adopted widely enough to replace the dollar as the global reserve currency. In the wake of the financial crisis of 2007–2008, the governor of the People's Bank of China named the reserve currency status of the US dollar as a contributing factor to global savings and investment imbalances that led to the crisis. As such, the Triffin Dilemma is related to the Global Savings Glut hypothesis because the dollar's reserve currency role exacerbates the U.S. current account deficit due to heightened demand for dollars." Source: https://en.m.wikipedia.org/wiki/Triffin_dilemma Bitcoin is a threat to the IMF's XDR: "LONDON, Feb 23 (Reuters) - The International Monetary Fund has laid out a nine-point action plan for how countries should treat crypto assets, with point number one a plea not to give cryptocurrencies such as bitcoin legal tender status." [link] [comments] |
Friday, 28 April 2023
Gary Gensler releases video on twitter warning exchanges that they will come after them for listing some cryptos which are securities. Revenge for being humiliated in front of congress?
Funding Rate Questions
If I buy Bitcoin now, with 50 times leverage, and then increase it by 5 times, how many times can I finally double it? Will the position be liquidated midway because of the funding rate?
[link] [comments]
source https://www.reddit.com/r/btc/comments/1310azs/funding_rate_questions/
Thursday, 27 April 2023
![[1999] Milton Friedman predicted BITCOIN 25 years ago](https://external-preview.redd.it/LauRpDIcRappSpSNKqTIJlkTNpJhTh3qOxi-E_LifjE.jpg?width=320&crop=smart&auto=webp&s=547c370cf40dfe99cf2894546e1fb8f320322b6d "[1999] Milton Friedman predicted BITCOIN 25 years ago")
#bitcoin makes you a saver!
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"The habit of saving is itself an education; it fosters every virtue, teaches self-denial, cultivates the sense of order, trains to forethought, and so broadens the mind." - T.T. Munger [link] [comments] |
There is nothing more powerful on earth than an idea whose time has come.
This Victor Hugo quote may be the embodiment of my feelings on bitcoin.
We live in a world where freedoms are rapidly being eroded by oligarchs/governments (hint: they are the two sides of the same coin) that seek to FARM US for our yield and attention span until we die.
Until bitcoin, and with a near perfect system of control and distraction in place, this was essentially our fate. Sure, we could have decided, as some unfortunately have needed to, to sacrifice our lives or what little remaining well-being we have to "protest" a heavily militarized and insulated opponent. But this was essentially the equivalent of using sticks and stones versus an M1 Abrams tank or Apache helicopter. It ain't gonna work folks, and you are only harming yourselves with this approach.
Bitcoin weaponizes money and the power, irony, and hubris of it couldn't more singularly delicious. It leverages the very tools meant to control us most (ie: the internet and the global financial system) against the monsters that seek to further enslave us.
Someone once said that bitcoin's only flaw is that people are stupid. This is a very real and scary observation. Those in a gilded cage often cannot see the cage at all, even as the cage becomes less gilded and more like an actual prison over time. Humanity is the frog being slowly boiled. Similarly to the character of Neo in the matrix, however, eventually the veil becomes too thin, the water too hot, or the greed of the elite too great (like committing a $6T theft via inflation during the pandemic) for the illusion to maintain itself.
More and more people are waking up to the fact that bitcoin is the very essence of freedom. Better yet, it is a mirror or lens through which we can see and begin to question all the other systems of control that somehow we have just come to accept and ignore. This process is not linear and sometimes discouraging. For instance, watching people squabble about whether they will get fiat rich in the process is absolutely %$#%$# pathetic to those with awareness of what is actually at stake.
So yeah, this post is not for you if you are hoping for more fiat, more useless stuff, or a slightly bigger cell in the prison you currently live in. Bitcoin doesn't care. Bitcoin is the giant killer.
It is an idea whose time has come.
[link] [comments]
Wednesday, 26 April 2023
Can you double spend on Mars?
Let’s say I’m at my local butcher’s place while visiting my vacation home on Mars. I buy several pounds of steak for 25 sats, the transaction is validated in about 10 minutes, and I go home and eat.
Meanwhile, my gold digging wife on Earth whom I share a wallet with runs off with her boyfriend and spends all my money on vegan insect burgers at the same time.
Since the speed of light takes more than 10 minutes to go from Earth to Mars and vice versa, would both transactions clear for the moment?
Then, when the longer chain finally reaches Mars (assuming more work is being done on Earth) would it simply replace the chain on Mars, and as I’m finishing my steak the butcher would realize he no longer has my 25 sats because my wife spent it all on the bigger chain?
Or would the transactions simply not go through until the nodes on Mars agree with the nodes on Earth?
Thank you for your intelligent responses, I’m still trying to understand the technical aspects of the blockchain and hopefully this will help others gain a better understanding as well.
[link] [comments]
Tuesday, 25 April 2023
Why do people think the Bitcoin chart repeats itself every cycle?
I get it there have been some patterns. There's the 4 year cycle and the halving - but does this just magically happen by itself?
The price goes up when more people are buying than they are selling - why would people's behaviours be aligned so tightly to the TA - don't world events and sentiment play a big part?
I still really believe in the future but I'm holding for 10+ years so it doesn't matter much to me
But can anyone enlighten me as to why people are so sure things will go the same way as they have before when things are so different now?
[link] [comments]
Btc purchase help
Hello I’m looking to purchase bitcoin or ethereum using a bank account but I don’t want to deal with id verification or the small deposit verification.
It seems like now In this day in age you can’t just enter your bank account and routing number without going through some sort of verification process. Which I totally understand but hoping someone can point me in the right direction.
I’m located in the US but understand how to use vpn’s
I know someone’s going to say it sounds like I’m up to no good and this isn’t the right place to ask but screw it hopefully someone can help me out.
[link] [comments]
source https://www.reddit.com/r/btc/comments/12xrrhp/btc_purchase_help/
Monday, 24 April 2023
Help brainstorming this CashTokens app idea?
Hey all,
I have an idea for a Cash Tokens implementation that I think could help Bitcoin Cash overall.
TLDR: A smart contract that issues NFTs based on how many BCH the person holds. Then this NFT is used as an access token to chat rooms. The value comes from an expected increase in the quality of discussions when you know someone has a financial stake.
Let's say for example NFTs are issued at "every 10" buckets so:
<1 BCH
=1 and/or < 10 BCH
=10 and/or < 100 BCH
=100 and/or < 1000 BCH
etc...
Now lets say Alice has 3 BCH. They sign and send a message to the smart contract which issues them an NFT that represents the "1-9.99999 bucket. They can use this token to join that respective chat room and all chat rooms below it so also the < 1 BCH chatroom as well.
She accumulates more BCH and now has 11 and can now resign a message and get the NFT for the 10-99.9999 channel as well as the two previous channels. THE PREVIOUS NFT IS DESTROYED.
The idea here is to promote saving BCH and also providing some exclusivity.
If a BCH supporter wanted to talk to 'newbies' they can open up the < 1 BCH chatroom. If they wanted to talk to more 'experienced / financially motivated people' they could post in the 100-999.9999 channel and etc.
The idea here is also an easy proof of use case for CashTokens / Access Tokens / NFTs on BCH.
It would provide for people with similar financial stakes to discuss BCH. I think it might give a reason for whales to join the discussion. If I was one of the few people with > 100,000 BCH, pseudonymously having a way to talk to the other > 100,000 BCH holders would be new.
The smaller details I don't have figured out and am looking for input. For example, I don't know the technicals... if Alice has 3 BCH in 1 UTXO and puts 8 more BCH in another UTXO, could she still sign a message proving she has 3+8 = 11 or does she need to send all 11 BCH to one UTXO? This matters because it would be annoying for people to have to consolidate their UTXOs and I believe that might be a security concern to some people. On the otherhand I hear sometimes people saying consolidating UTXOs is good...
What chat application (discord, telegram, slack) would be best for this application?
I dont think this would be a money generating application. Maybe charge a few pennies or a % when the NFT is created but someone else could just copy the idea and offer it for free. I think this works best as a free application because value would be given to the entire BCH ecosystem.
How hard would this be to implement?
Would you use it if it existed?
Think gamification of savings on BCH.
[link] [comments]
source https://www.reddit.com/r/btc/comments/12woxhx/help_brainstorming_this_cashtokens_app_idea/
Parmanode 2.2.0 - Easy AF Bitcoin node / Electrum Server setup wizard for desktop computers.
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I wrote this program for those not super skilled with computers. Free Open Source Software You can run, Mac or Linux or Pi4, Bitcoin Core and Electrum Server (Fulcrum), with an external or internal drive, with an automated setup wizard, and menu options to use and configure, including some educational material. More programs and educational material will be added with further development. Enjoy. [link] [comments] |
Weekly Report: Top Ecosystems ranked by GitHub commits
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📊 Weekly Report: Top Ecosystems ranked by GitHub commits: 1️⃣ Ethereum: 15071 commits 2️⃣ Polkadot: 11793 commits 3️⃣ Solana: 4821 commits 4️⃣ Cosmos: 4152 commits 5️⃣ Bitcoin : 2777 commits Source: https://cryptometheus.com/ [link] [comments] |
source https://www.reddit.com/r/btc/comments/12wmw8r/weekly_report_top_ecosystems_ranked_by_github/
A dormant wallet from 2012 has woken up and moved 279 BTC.
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A dormant wallet from 2012 has woken up and moved 279 BTC. According to on-chain data, the Satoshi era wallet holds 1,128 Bitcoin worth $31.5 million. The wallet last transacted when Bitcoin prices ranged in the $12 to $95 zone. [link] [comments] |
Sunday, 23 April 2023
BCH or LTC. Who will give better ROI?
Guys I know, that BTC is already too big, with huge mcap. So I was thinking between LTC and BCH to invest longterm.
I heard LTC has huge use case in the dark-market and BCH has bigger community. Not sure which one of those is better in terms of long term ROI.
Any thoughts are welcome.
[link] [comments]
source https://www.reddit.com/r/btc/comments/12vg65g/bch_or_ltc_who_will_give_better_roi/
Bitcoin versus Index Funds; Austrian vs. Keynesian economics; DOUBLETHINK?
Is investing (for decades) in index funds AND saving in Bitcoin at the SAME time an example of cognitive dissonance?
Is this ethical? Do I have a split personality? Is this doublethink? Or is this simply pragmatic, betting on red AND black?
The two exist in completely different economic realities. I believe in the soul of Bitcoin, so I save in Bitcoin. But I also buy into investing with index funds, because I believe in the soul of FI/RE (financial independence/ retire early)…. And well, index funds are the conventional wisdom with historical momentum. (And there is a 401k match, etc…)
One depends on a central bank; the other abolishes it. One relies on the US economy; the other has no borders. One has a counterparty; the other does not. One is non-custodial; the other is a bearer instrument. They are nothing alike !
[link] [comments]
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