Crypto 360°

Sunday, 3 October 2021

I'm a defi noob but I'm excited about smartBCH. Where do I learn the basics?

Hi everyone,

I love BCH and this community, and smartBCH is an exciting development.

But even though I keep seeing threads about new ways to interact with smartBCH, I have no idea how to get started, or how to determine who to trust.

I have common sense and I can see scamcoins and shitcoins a mile away, so I'm not asking about how to protect myself. I'm just asking how to get started with smartBCH and if someone can explain to me how services like Benswap/flexUSD and Hybrix work so that I can rest assured when I put my trust in those services.

I saw a thread a while back about how to connect Metamask to smartBCH so that I can interact with Benswap. Is that still the way to do things?

Also, can someone give a quick rundown of DeFi and how DeFi works in general, for the rest of us noobs who might be trying to dip our toes in?

Thanks for the help.

submitted by /u/KallistiOW
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source https://www.reddit.com/r/btc/comments/q03c9n/im_a_defi_noob_but_im_excited_about_smartbch/

Bitcoin has unleashed a wave of speculation and increase popularity!

Key takeaways from this Bloomberg article about crypto in El Salvador:

Chivo wallet makes it easy to switch between crypto and dollars.

Chivo can be faster than cash or credit cards.

More than 2 million people in the country of 6.5 million are users of Chivo.

Many large chains such as Starbucks, McDonald’s, supermarkets, and some smaller businesses are accepting the digital currency for purchases.

Bitcoin has unleashed a wave of speculation.

Cryptocurrency tradings are becoming much more popular in El Salvador.

Successful rollout produces tangible benefits for the impoverished Central American economy.

Remittances account for over 20% of the nation's GDP. Reduction in remittance fees is one of the main benefits.

Salvadorians utilizing Bitcoin alongside the U.S. dollar could convince other countries to give cryptocurrency a try too.

An El Salvadorian’s father’s advice: “We got used to using plastic, and now we need to start using crypto. The world has to evolve.”

There are criticisms about using crypto as noted in the article which you can read from the link below.

Bitcoin Launch Sparks Wave of Crypto Speculation in El Salvador - Bloomberg

submitted by /u/Progress_8
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What's stopping a bank to print itself out of oblivion to buy BTC?

If Argentina's currency is already worth jack shit, is it possible for them to print 1,000,000,000,000,000,000 digitally to buy BTC?

Like you're trading nothing for something.

Is it because the exchanges/otc won't accept it currently?

I think once a currency loses its trust, you can only rely on bitcoin to hold value.

USD had high trust because it was once backed by gold, but is losing trust because of printing and fractional reserve banking. Unverified amount in existence.

Once bitcoin becomes mainstream, how can China not accept BTC? Would you trust their currency over BTC?

submitted by /u/nyess
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What a legend.

I don't think I need to say anything but just read for yourself, he even deleted his account haha i dont blame him... He knew his shit and believed in it https://www.reddit.com/r/Bitcoin/comments/22qc1d/as_someone_who_has_invested_140k_into_bitcoin_i/

submitted by /u/trannygranny17
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