User Panel
User Panel
User Panel
|
Posted: 11/11/2022 7:56:27 AM EDT
[#1]
Quote HistoryOriginally Posted By SERVED_USMC: If they’re not allowing people to withdraw does that mean we don’t have to pay off the balance of our BlockFi credit cards?  Quote HistoryOriginally Posted By SERVED_USMC: If they’re not allowing people to withdraw does that mean we don’t have to pay off the balance of our BlockFi credit cards? Email just received: Dear Valued Cardholder, In light of recent developments at BlockFi, we would like to provide a friendly reminder that all terms and conditions of your cardholder agreement still continue to apply. As has been the case thus far, any existing balances or future purchases will need to be paid back per the minimum payment requirements on your card or sooner if you wish to do so. Your repayment activity and account status will continue to be reported to the credit bureaus. We look forward to continuing to serve you as our customer and address any questions you may have about this notification. Please don't hesitate to contact us using the contact information provided on the back of your card. Please review the Cardholder Agreement Terms & Conditions for information about your BlockFi Rewards Visa® Signature Card. The BlockFi Rewards Visa® Signature Card is issued by Evolve Bank and Serviced by Deserve, Inc., both of which are separate business entities from BlockFi. The more things change, the more they stay the same. |
|
|
|
|
Posted: 11/11/2022 8:36:44 AM EDT
[Last Edit: Brahmzy]
[#2]
Quote HistoryOriginally Posted By goloud: Still have that defeated feeling. I’ve felt defeated ever since I got into this shit, lol. It’s been a giant poop show and still is. But, then, I knew it would be before I got into it. I knew jumping in late to the party would come with more risk and far less reward. |
|
|
|
|
Posted: 11/11/2022 8:58:33 AM EDT
[#3]
Quote HistoryOriginally Posted By Brahmzy: I’ve felt defeated ever since I got into this shit, lol. It’s been a giant poop show and still is. But, then, I knew it would be before I got into it. I knew jumping in late to the party would come with more risk and far less reward.  All kidding aside, I haven’t lost faith. There’s no way this was going to be an easy ride. But blockchain technology is the future. Stocks and the stock market will run on blockchains. Banks, healthcare, real estate, identification docs. It’s coming. It’s just a question if we can survive the trip to see it. |
|
|
|
|
Posted: 11/11/2022 10:40:08 AM EDT
[Last Edit: TW200]
[#4]
FTX international has just filed for Chapter 11 bankruptcy.
Does not include USA FTX. |
|
|
|
ARG
|
Posted: 11/11/2022 10:43:20 AM EDT
[#5]
Quote HistoryOriginally Posted By goloud: No worries. I’m no expert, but we are a bit lucky that the cbETH option exists. Three months ago ETH2 would have been stuck on CB. Still have that defeated feeling. Mine still shows as ETH2 on CB.  No option to sell, convert, or move off the exchange.Accountant |
|
|
ARG
|
Posted: 11/11/2022 10:45:07 AM EDT
[Last Edit: Accountant30339]
[#6]
Quote HistoryOriginally Posted By TW200: FTX international has just filed for Chapter 11 bankruptcy. Does not include USA FTX. CoinTelegraph says that FTX US is included. ETA: I can't find a link that works. Front page of the website. |
|
|
NE, USA
|
Posted: 11/11/2022 10:54:44 AM EDT
[#7]
Quote HistoryOriginally Posted By goloud: https://www.ar15.com/media/mediaFiles/83570/10FAE474-BDAE-47B4-98CC-94D26C1AE34C-2595955.jpg But blockchain technology is the future. . but why? your trying to fix a non existent problem with a solution that doesn't really work well and will be massively costly to implement in a correct manner that combination of factors is the proverbial square peg round hole situation, no matter how hard you push, its just not worth the effort sorry, but if you were not mentally / monetarily invested in that outcome you would see that but carry on |
|
|
WV, USA
|
Posted: 11/11/2022 11:27:21 AM EDT
[#8]
Quote HistoryOriginally Posted By tooldforthis: but why? your trying to fix a non existent problem with a solution that doesn't really work well and will be massively costly to implement in a correct manner that combination of factors is the proverbial square peg round hole situation, no matter how hard you push, its just not worth the effort sorry, but if you were not mentally / monetarily invested in that outcome you would see that but carry on Ive said it before and I'll say it again. I don't understand why so many conservatives are so god damned curmudgeonly about crypto. It's immutable, borderless, and almost entirely censor-proof. I wonder if the same people consistently shitting on it prophesied the demise of the internet when the dotcom bubble burst. |
|
|
|
Posted: 11/11/2022 11:35:34 AM EDT
[#9]
Quote HistoryOriginally Posted By tooldforthis: but why? your trying to fix a non existent problem with a solution that doesn't really work well and will be massively costly to implement in a correct manner that combination of factors is the proverbial square peg round hole situation, no matter how hard you push, its just not worth the effort sorry, but if you were not mentally / monetarily invested in that outcome you would see that but carry on Why? Because we don't want central banks to control the currency supply. That is exactly the problem as their policy picks the winners and losers. Additionally, allowing them to impose CBDC empowers them to brrrrrrrr! future generations much like they're doing to us today. |
|
|
|
|
Posted: 11/11/2022 11:40:47 AM EDT
[Last Edit: woodsie]
[#10]
Quote HistoryOriginally Posted By goloud: https://www.ar15.com/media/mediaFiles/83570/10FAE474-BDAE-47B4-98CC-94D26C1AE34C-2595955.jpg All kidding aside, I haven’t lost faith. There’s no way this was going to be an easy ride. But blockchain technology is the future. Stocks and the stock market will run on blockchains. Banks, healthcare, real estate, identification docs. It’s coming. It’s just a question if we can survive the trip to see it. Quote HistoryOriginally Posted By goloud: Originally Posted By Brahmzy: I’ve felt defeated ever since I got into this shit, lol. It’s been a giant poop show and still is. But, then, I knew it would be before I got into it. I knew jumping in late to the party would come with more risk and far less reward. https://www.ar15.com/media/mediaFiles/83570/10FAE474-BDAE-47B4-98CC-94D26C1AE34C-2595955.jpg All kidding aside, I haven’t lost faith. There’s no way this was going to be an easy ride. But blockchain technology is the future. Stocks and the stock market will run on blockchains. Banks, healthcare, real estate, identification docs. It’s coming. It’s just a question if we can survive the trip to see it. It's never been an easy ride. I got involved in 2013 and watched Bitcoin melt down from $1200 to $200 when that bubble burst. 2017 was just as bad. I don't care who you are, down 80% is down 80% no matter what year we are talking about. 2022 could be an even rougher ride thanks to broader economic factors but who knows. The positive inflation data yesterday is helpful in terms of hastening a Fed pivot but it's not over til it's over. Either way, that's why you can't invest sleep money in crypto. Only money you are willing to watch ride a roller coaster. My sleep money is in stocks and bonds. |
|
|
|
|
Posted: 11/11/2022 11:41:16 AM EDT
[#11]
Quote HistoryOriginally Posted By TW200: FTX international has just filed for Chapter 11 bankruptcy. Does not include USA FTX. I'd love to better understand how those two are separated. Are FTX users in the USA not fucked? |
|
|
|
|
Posted: 11/11/2022 11:41:38 AM EDT
[#12]
Quote HistoryOriginally Posted By TW200: FTX international has just filed for Chapter 11 bankruptcy. Does not include USA FTX. Just a matter of time. |
|
|
|
ARG
|
Posted: 11/11/2022 11:48:55 AM EDT
[#13]
|
|
|
USA
|
Posted: 11/11/2022 11:51:53 AM EDT
[#14]
At this point any decentralized exchange with a cash reserve on the books *is* the play. Mutliple exchanges may go under and these leverage traders need a place to go. GMX GNS Vela/DXP etc. Are the plays.
Isolated trading platforms with deep cash reserves fill this gap. I am so glad I invested in Defi leverage dex. Go look at the number of gTrade users. It's mooning. Look at the volume on these types of exchanges GMX and GNS. Gains Statistics GMX stats This is opportunity knocking. 
|
|
|
WV, USA
|
Posted: 11/11/2022 12:02:46 PM EDT
[Last Edit: Naporter]
[#15]
Quote HistoryOriginally Posted By Knife_Sniper: At this point any decentralized exchange with a cash reserve on the books *is* the play. Mutliple exchanges may go under and these leverage traders need a place to go. GMX GNS Vela/DXP etc. Are the plays. Isolated trading platforms with deep cash reserves fill this gap. I am so glad I invested in Defi leverage dex. Go look at the number of gTrade users. It's mooning. Look at the volume on these types of exchanges GMX and GNS. Gains Statistics GMX stats This is opportunity knocking. DEX are awesome. No worries about paper trading there. Everything is executed on chain. The only big issue is whether they have an LP large enough to handle the volume, which isn't a major concern unless you're dabbling in the shittiest of the shitcoins. The lending platforms are cool too, but a ton of people use them to over-leverage themselves. Oh well, I guess. That's what automatic liquidation is for. |
|
|
|
Posted: 11/11/2022 3:22:45 PM EDT
[#16]
Quote HistoryOriginally Posted By Accountant30339: Mine still shows as ETH2 on CB. No option to sell, convert, or move off the exchange.Accountant Quote HistoryOriginally Posted By Accountant30339: Originally Posted By goloud: No worries. I’m no expert, but we are a bit lucky that the cbETH option exists. Three months ago ETH2 would have been stuck on CB. Still have that defeated feeling. Mine still shows as ETH2 on CB. No option to sell, convert, or move off the exchange.Accountant Do you have the option to wrap with CBETH? |
|
|
|
|
Posted: 11/11/2022 4:12:08 PM EDT
[Last Edit: goloud]
[#17]
Centralization is a big part of the problem. It revolves around control. Which means anything the group doesn’t like is out. And anything they like is in. Our current system allows us to be pushed around.
A billionaire was kicked out of his bank last month. What do you think they will do with someone who only has $10K? Insane inflation - if you need more money, just print some. BTC doesn’t allow that. The Fed budget is a mess. Make every agency record their spending on chain. Credit cards are decades old tech that is ripe with fraud, which increases the cost of everything. Elections should be on chain transactions viewable by all. Not the vote, but the fact that it occurred or not and by who. The list goes on and on. We can argue that those in power will still abuse a new system. There will be fraud. But the tech is objectively better. It is up to us to change the underlying issues that allow those in power to use centralization as a weapon against those without any power. Quote HistoryOriginally Posted By tooldforthis: but why? your trying to fix a non existent problem with a solution that doesn't really work well and will be massively costly to implement in a correct manner that combination of factors is the proverbial square peg round hole situation, no matter how hard you push, its just not worth the effort sorry, but if you were not mentally / monetarily invested in that outcome you would see that but carry on |
|
|
|
|
Posted: 11/11/2022 6:24:28 PM EDT
[#18]
It's been interesting following the BlockFi news from last night and today. Given 1) that today is a bank holiday, 2) the official news was released yesterday via tweet (which I didn't see) instead of a broad email, text, etc. and 3) the app otherwise worked find until around noon CT today, the amount of speculation is rampant. From what I can tell, the issue seems to be related to how integrated (or not) BlockFi is with FTX/Almeda after they received a $400mm line of credit from FTX this summer. I've seen rumors of everything from BlockFi being 100% insolvent to them being ok and just holding off until the FTX situation gets sorted out. Compound that with no official info (outside the email/press release which was 100% poorly distributed) and you can see why people are confused. I don't like SBF, but some kudos for him for his long tweet threads providing some (non-detailed) updates.
Full disclosure, I had taken the majority of my assets out of BlockFi this past summer when they killed off the interest account feature after the New jersey lawsuit and moved to a software wallet-type account. I figured at the time that the juice was no longer worth the squeeze and didn't have time to mess with moving the actual BTC/ETH to a hardware wallet, so I just took out my GUSD. Should they go belly-up, I'll be out around $6k or so, which sucks. That's like 80% of an SR25-type money. Anyone else following the BlockFi situation? |
|
|
|
|
Posted: 11/11/2022 9:01:48 PM EDT
[#19]
Quote HistoryOriginally Posted By goloud: Email just received: The more things change, the more they stay the same. Quote HistoryOriginally Posted By goloud: Originally Posted By SERVED_USMC: If they’re not allowing people to withdraw does that mean we don’t have to pay off the balance of our BlockFi credit cards? Email just received: Dear Valued Cardholder, In light of recent developments at BlockFi, we would like to provide a friendly reminder that all terms and conditions of your cardholder agreement still continue to apply. As has been the case thus far, any existing balances or future purchases will need to be paid back per the minimum payment requirements on your card or sooner if you wish to do so. Your repayment activity and account status will continue to be reported to the credit bureaus. We look forward to continuing to serve you as our customer and address any questions you may have about this notification. Please don't hesitate to contact us using the contact information provided on the back of your card. Please review the Cardholder Agreement Terms & Conditions for information about your BlockFi Rewards Visa® Signature Card. The BlockFi Rewards Visa® Signature Card is issued by Evolve Bank and Serviced by Deserve, Inc., both of which are separate business entities from BlockFi. The more things change, the more they stay the same. Just tried to use my card and it was declined. Twice. “Separate business entities” my ass. |
|
|
|
|
Posted: 11/11/2022 9:16:56 PM EDT
[#20]
Lehman / LTCM all over again lol
|
|
|
|
|
Posted: 11/11/2022 9:17:12 PM EDT
[#21]
And Bear Sterns or whatever tf that firm was called.
|
|
|
|
|
Posted: 11/11/2022 9:35:59 PM EDT
[#22]
Quote HistoryOriginally Posted By SERVED_USMC: Just tried to use my card and it was declined. Twice. “Separate business entities” my ass. “Our shits busted and we’re insolvent (probably) but pay us. Please.”  Attached File |
|
|
|
|
Posted: 11/11/2022 10:23:31 PM EDT
[#23]
Quote HistoryOriginally Posted By SERVED_USMC: Just tried to use my card and it was declined. Twice. “Separate business entities” my ass. Quote HistoryOriginally Posted By SERVED_USMC: Originally Posted By goloud: Originally Posted By SERVED_USMC: If they’re not allowing people to withdraw does that mean we don’t have to pay off the balance of our BlockFi credit cards? Email just received: Dear Valued Cardholder, In light of recent developments at BlockFi, we would like to provide a friendly reminder that all terms and conditions of your cardholder agreement still continue to apply. As has been the case thus far, any existing balances or future purchases will need to be paid back per the minimum payment requirements on your card or sooner if you wish to do so. Your repayment activity and account status will continue to be reported to the credit bureaus. We look forward to continuing to serve you as our customer and address any questions you may have about this notification. Please don't hesitate to contact us using the contact information provided on the back of your card. Please review the Cardholder Agreement Terms & Conditions for information about your BlockFi Rewards Visa® Signature Card. The BlockFi Rewards Visa® Signature Card is issued by Evolve Bank and Serviced by Deserve, Inc., both of which are separate business entities from BlockFi. The more things change, the more they stay the same. Just tried to use my card and it was declined. Twice. “Separate business entities” my ass. If I'm the CC issuer (Evolve Bank & Trust), I would have cancelled all the cards this morning, especially after probably thousands of comments/tweets that people weren't going to repay the cards if BlockFi is toast, with some suggesting to run up the balance and never pay it. |
|
|
|
|
Posted: 11/11/2022 11:00:35 PM EDT
[#24]
Quote HistoryOriginally Posted By mdavis: If I'm the CC issuer (Evolve Bank & Trust), I would have cancelled all the cards this morning, especially after probably thousands of comments/tweets that people weren't going to repay the cards if BlockFi is toast, with some suggesting to run up the balance and never pay it. It is 100% the smart move for self preservation. |
|
|
|
|
Posted: 11/12/2022 12:34:08 AM EDT
[#25]
CRO is just getting hammered. Wow.
|
|
|
|
|
Posted: 11/12/2022 12:35:36 AM EDT
[#26]
Anyone else watching FTX get liquidated in real time tonight on Twitter?
|
|
|
|
|
Posted: 11/12/2022 12:37:32 AM EDT
[#27]
Quote HistoryOriginally Posted By goloud: Centralization is a big part of the problem. It revolves around control. Which means anything the group doesn’t like is out. And anything they like is in. Our current system allows us to be pushed around. A billionaire was kicked out of his bank last month. What do you think they will do with someone who only has $10K? Insane inflation - if you need more money, just print some. BTC doesn’t allow that. The Fed budget is a mess. Make every agency record their spending on chain. Credit cards are decades old tech that is ripe with fraud, which increases the cost of everything. Elections should be on chain transactions viewable by all. Not the vote, but the fact that it occurred or not and by who. The list goes on and on. We can argue that those in power will still abuse a new system. There will be fraud. But the tech is objectively better. It is up to us to change the underlying issues that allow those in power to use centralization as a weapon against those without any power. And this is why I don't give a fuck about the 10 year Hail Mary. The system is already broken. The rest of the clowns just don't see it. What's the alternative? Where's the escape hatch? |
|
|
|
|
Posted: 11/12/2022 1:05:26 AM EDT
[#28]
Quote HistoryOriginally Posted By SERVED_USMC: It is 100% the smart move for self preservation. Do you think I’ll still get my .005 BTC reward this month?
|
|
|
|
MO, USA
|
Posted: 11/12/2022 8:08:56 AM EDT
[#29]
https://www.theblock.co/post/186289/ftx-claims-it-has-been-hacked-of-all-of-its-funds-website-and-mobile-app-compromised
FTX Telegram admin claims exchange hacked QUICK TAKE “All funds seem to be gone,” an admin originally posted on FTX’s official channel, claiming the crypto exchange had been hacked. They also said its applications are malware and its website may download Trojan viruses. |
|
|
|
Posted: 11/12/2022 8:16:54 AM EDT
[#30]
Quote HistoryOriginally Posted By Vote4Cthulhu: https://www.theblock.co/post/186289/ftx-claims-it-has-been-hacked-of-all-of-its-funds-website-and-mobile-app-compromised Username checks out. |
|
|
|
WV, USA
|
Posted: 11/12/2022 8:43:20 AM EDT
[Last Edit: Naporter]
[#31]
Fwiw, in the Star Atlas town hall yesterday, they said they had around $15M in funds at FTX that's being written off as a total loss. They were using FTX to exchange out crypto assets to fund their software devs who were paid in USD.
I'm sure there are other projects who were using FTX for similar purposes, especially Solana based ones. Wouldn't surprise me if the heads of FTX siphon off assets then disappear. Just need to work with enough of the people who can unlock the multi-sig. |
|
|
|
Posted: 11/12/2022 8:47:07 AM EDT
[Last Edit: piperpa24]
[#32]
Quote HistoryOriginally Posted By goloud: https://www.ar15.com/media/mediaFiles/83570/10FAE474-BDAE-47B4-98CC-94D26C1AE34C-2595955.jpg All kidding aside, I haven't lost faith. There's no way this was going to be an easy ride. But blockchain technology is the future. Stocks and the stock market will run on blockchains. Banks, healthcare, real estate, identification docs. It's coming. It's just a question if we can survive the trip to see it. It will continue to be a wet dream until people reach the point of capitulation - ie when the US is like Europe and people are starving and freezing to death and decide to revolt. |
|
|
|
WV, USA
|
Posted: 11/12/2022 8:51:24 AM EDT
[#33]
Quote HistoryOriginally Posted By piperpa24: This is sort of like the "green energy" bandwagon. People still believe it is woth throwing billions of dollars into this "green energy" transition despite all the evidence up to the current time. It will continue to be a wet dream until people reach the point of capitulation - ie when the US is like Europe and people are starving and freezing to death and decide to revolt. Quote HistoryOriginally Posted By piperpa24: Originally Posted By goloud: https://www.ar15.com/media/mediaFiles/83570/10FAE474-BDAE-47B4-98CC-94D26C1AE34C-2595955.jpg All kidding aside, I haven't lost faith. There's no way this was going to be an easy ride. But blockchain technology is the future. Stocks and the stock market will run on blockchains. Banks, healthcare, real estate, identification docs. It's coming. It's just a question if we can survive the trip to see it. It will continue to be a wet dream until people reach the point of capitulation - ie when the US is like Europe and people are starving and freezing to death and decide to revolt. Nonsense. Green energy will eventually become viable, it's just nowhere near ready to supplant existing energy sources. The tech just isn't there yet. Crypto is already a superior system to the current monetary and banking systems, it just lacks widespread adoption due to a lack of understanding. Its inherent security makes it less convenient than other systems and governments don't like that they can't regulate anything "on-chain". They can only target the on/off ramps. |
|
|
|
Posted: 11/12/2022 8:53:18 AM EDT
[#34]
Quote HistoryOriginally Posted By piperpa24: This is sort of like the "green energy" bandwagon. People still believe it is woth throwing billions of dollars into this "green energy" transition despite all the evidence up to the current time. It will continue to be a wet dream until people reach the point of capitualtion - ie when the US is like Europe and people are starving and freezing to death and decide to revolt. Quote HistoryOriginally Posted By piperpa24: Originally Posted By goloud: https://www.ar15.com/media/mediaFiles/83570/10FAE474-BDAE-47B4-98CC-94D26C1AE34C-2595955.jpg All kidding aside, I haven't lost faith. There's no way this was going to be an easy ride. But blockchain technology is the future. Stocks and the stock market will run on blockchains. Banks, healthcare, real estate, identification docs. It's coming. It's just a question if we can survive the trip to see it. It will continue to be a wet dream until people reach the point of capitualtion - ie when the US is like Europe and people are starving and freezing to death and decide to revolt. I would believe that was true if crypto hadn't already survived three major crashes over the last 12 years. The idea of crypto isn't going anywhere short of a coordinated government intervention. |
|
|
|
|
Posted: 11/12/2022 8:54:20 AM EDT
[#35]
Dr. Doom chimes in. It makes sense that Binance is next to blow up. FTX’s Chief Regulatory guy was involved in an online poker company that defrauded its customers.
You can’t make this stuff up. FTX was injecting tons of money into other companies that were ponzi schemes in their own right. Why would he do that? https://markets.businessinsider.com/news/currencies/crypto-ftx-binance-roubini-doom-bailout-ponzi-scheme-2022-11 |
|
|
|
WV, USA
|
Posted: 11/12/2022 8:57:23 AM EDT
[#36]
Quote HistoryOriginally Posted By Rugreedy: Dr. Doom chimes in. It makes sense that Binance is next to blow up. FTX’s Chief Regulatory guy was involved in an online poker company that defrauded its customers. You can’t make this stuff up. FTX was injecting tons of money into other companies that were ponzi schemes in their own right. Why would he do that? https://markets.businessinsider.com/news/currencies/crypto-ftx-binance-roubini-doom-bailout-ponzi-scheme-2022-11 Easy. They were recklessly chasing high returns using other peoples money. There are tons of people on crypto who chase dizzyingly high return rates irrespective of the risk involved in those investing strategies. It's why we see shit like 100x leveraged assets and lending platforms that are made specifically so people can roll those borrowed funds into LPs. |
|
|
|
Posted: 11/12/2022 9:01:05 AM EDT
[#37]
Quote HistoryOriginally Posted By Naporter: Nonsense. Green energy will eventually become viable, it's just nowhere near ready to supplant existing energy sources. The tech just isn't there yet. Crypto is already a superior system to the current monetary and banking systems, it just lacks widespread adoption due to a lack of understanding. Its inherent security makes it less convenient than other systems and governments don't like that they can't regulate anything "on-chain". They can only target the on/off ramps. Put some solar panels on yours house, or have a windmill in West Tx or Oklahoma to pump water that's great and stuiff like that will continue to be viable for those situations and where people believe that it is worth it to put the investment and are therefore willing to fund the infrastructure of it. But to print money to throw billions into something in the hopes that you will never generate another ounce of carbon is a sign that you are mentally ill - and Darwin will eventually resolve things. |
|
|
|
WV, USA
|
Posted: 11/12/2022 9:06:40 AM EDT
[#38]
Quote HistoryOriginally Posted By piperpa24: Oh, Green energy is certainly viable - but not in the way potato head and the leftists like AOC think it will be. It will never be more than an certain percentage of the overage enrgy picture because it is not a reliable form of energy that you could base a serious business on, much less an entire economy or country. Put some solar panels on yours house, or have a windmill in West Tx or Oklahoma to pump water that's great and stuiff like that will continue to be viable for those situations and where people believe that it is worth it to put the investment and are therefore willing to fund the infrastructure of it. But to print money to throw billions into something in the hopes that you will never generate another ounce of carbon is a sign that you are mentally ill - and Darwin will eventually resolve things. Quote HistoryOriginally Posted By piperpa24: Originally Posted By Naporter: Nonsense. Green energy will eventually become viable, it's just nowhere near ready to supplant existing energy sources. The tech just isn't there yet. Crypto is already a superior system to the current monetary and banking systems, it just lacks widespread adoption due to a lack of understanding. Its inherent security makes it less convenient than other systems and governments don't like that they can't regulate anything "on-chain". They can only target the on/off ramps. Put some solar panels on yours house, or have a windmill in West Tx or Oklahoma to pump water that's great and stuiff like that will continue to be viable for those situations and where people believe that it is worth it to put the investment and are therefore willing to fund the infrastructure of it. But to print money to throw billions into something in the hopes that you will never generate another ounce of carbon is a sign that you are mentally ill - and Darwin will eventually resolve things. It'll get there eventually though. Carbon-free energy is indeed the future, likely in the form of nuclear. Crypto is different though. The tech is already viable, it just needs wider adoption, and unlike green energy, it doesn't need billions in investment. A great many of its advances have been made in the open-source space. |
|
|
USA
|
Posted: 11/12/2022 9:08:35 AM EDT
[#39]
When is Coinbase going down?
|
|
|
|
Posted: 11/12/2022 9:19:13 AM EDT
[Last Edit: Brahmzy]
[#40]
Quote HistoryOriginally Posted By dog-meat: When is Coinbase going down? It’s not. Quit yer shit. |
|
|
|
|
Posted: 11/12/2022 9:21:08 AM EDT
[#41]
Quote HistoryOriginally Posted By Naporter: It'll get there eventually though. Carbon-free energy is indeed the future, likely in the form of nuclear. Crypto is different though. The tech is already viable, it just needs wider adoption, and unlike green energy, it doesn't need billions in investment. A great many of its advances have been made in the open-source space. Crypto could not exist without energy - lots of it - and all over the world. You could argue that regular banking today needs computers to do pretty much everything, and that is a fact, but you can still pay cash or coin for most/many things if you needed to but you could never use crypto for anything without reliable power. |
|
|
|
WV, USA
|
Posted: 11/12/2022 9:22:20 AM EDT
[#42]
Quote HistoryOriginally Posted By Brahmzy: It’s not. Quote HistoryOriginally Posted By Brahmzy: Originally Posted By dog-meat: When is Coinbase going down? It’s not. Yeah, of all the exchanges, I'd expect them to weather this pretty well. They don't offer crazy high APY on assets like others, implying that they're not gambling with your assets on the backend. That, and their USDC is backed by cash, so liquidity shouldn't be an issue. Behold, the perils of fractional reserve banking. Coming soon to a bank near you if current monetary policy isn't fixed. |
|
|
|
Posted: 11/12/2022 9:24:45 AM EDT
[#43]
Quote HistoryOriginally Posted By Naporter: Yeah, of all the exchanges, I'd expect them to weather this pretty well. They don't offer crazy high APY on assets like others, implying that they're not gambling with your assets on the backend. That, and their USDC is backed by cash, so liquidity shouldn't be an issue. Behold, the perils of fractional reserve banking. Coming soon to a bank near you if current monetary policy isn't fixed. Quote HistoryOriginally Posted By Naporter: Originally Posted By Brahmzy: Originally Posted By dog-meat: When is Coinbase going down? It’s not. Yeah, of all the exchanges, I'd expect them to weather this pretty well. They don't offer crazy high APY on assets like others, implying that they're not gambling with your assets on the backend. That, and their USDC is backed by cash, so liquidity shouldn't be an issue. Behold, the perils of fractional reserve banking. Coming soon to a bank near you if current monetary policy isn't fixed. It'd be wholesome if an exchange started that was merely satisfied to run their business on revenues generated from trading fees. |
|
|
|
WV, USA
|
Posted: 11/12/2022 9:26:18 AM EDT
[#44]
Quote HistoryOriginally Posted By piperpa24: I agree that nuclear is is a much more viable form of low carbon energy, though not carbon free by any means. Crypto could not exist without energy - lots of it - and all over the world. You could argue that regular banking today needs computers to do pretty much everything, and that is a fact, but you can still pay cash or coin for most/many things if you needed to but you could never use crypto for anything without reliable power. Quote HistoryOriginally Posted By piperpa24: Originally Posted By Naporter: It'll get there eventually though. Carbon-free energy is indeed the future, likely in the form of nuclear. Crypto is different though. The tech is already viable, it just needs wider adoption, and unlike green energy, it doesn't need billions in investment. A great many of its advances have been made in the open-source space. Crypto could not exist without energy - lots of it - and all over the world. You could argue that regular banking today needs computers to do pretty much everything, and that is a fact, but you can still pay cash or coin for most/many things if you needed to but you could never use crypto for anything without reliable power. PoW requires tons of power. PoS uses far less, likely less than the current banking system, and with far greater security. |
|
|
|
Posted: 11/12/2022 9:30:39 AM EDT
[#45]
Quote HistoryOriginally Posted By piperpa24: Oh, Green energy is certainly viable - but not in the way potato head and the leftists like AOC think it will be. It will never be more than an certain percentage of the overage enrgy picture because it is not a reliable form of energy that you could base a serious business on, much less an entire economy or country. Put some solar panels on yours house, or have a windmill in West Tx or Oklahoma to pump water that's great and stuiff like that will continue to be viable for those situations and where people believe that it is worth it to put the investment and are therefore willing to fund the infrastructure of it. But to print money to throw billions into something in the hopes that you will never generate another ounce of carbon is a sign that you are mentally ill - and Darwin will eventually resolve things. More examples of centralization failures. Millions of people relying on a handful of big companies to provide them with power. Each household should have the ability to produce and store all the power they need. The transition from individual farmers and ranchers bringing crops/animals to market to Big Ag centralization has killed rural America. Big cities win and the small farmers lose. We are leaving the Information Age and have a choice between the new world order or the era of decentralization and independence. With finance at the forefront. |
|
|
|
|
Posted: 11/12/2022 9:35:34 AM EDT
[#46]
|
|
|
|
|
Posted: 11/12/2022 9:38:15 AM EDT
[#47]
Quote HistoryOriginally Posted By piperpa24: I agree that nuclear is is a much more viable form of low carbon energy, though not carbon free by any means. Crypto could not exist without energy - lots of it - and all over the world. You could argue that regular banking today needs computers to do pretty much everything, and that is a fact, but you can still pay cash or coin for most/many things if you needed to but you could never use crypto for anything without reliable power. What is the cost for power, water, raw materials, transportation, storage, security, and transfer of physical assets like paper money or metals? And all the supporting industries that center around physical assets. Then all the electronic systems on top of it all? And don’t forget, the powers that be can render your money worthless by just making more. |
|
|
|
|
Posted: 11/12/2022 9:39:48 AM EDT
[#48]
Quote HistoryOriginally Posted By Naporter: Yeah, of all the exchanges, I'd expect them to weather this pretty well. They don't offer crazy high APY on assets like others, implying that they're not gambling with your assets on the backend. That, and their USDC is backed by cash, so liquidity shouldn't be an issue. Behold, the perils of fractional reserve banking. Coming soon to a bank near you if current monetary policy isn't fixed. Yeah, the way they treat their customers will eventually be their downfall. Someone will supplant them. I've been locked out of my account for almost a year now with zero explanation as to why from their "customer service". Apparently a very common issue. Luckily I was able to get all my funds off. In other news, gemini works very well. I've got buys from $14.5k-$8.5k standing by. Bring on the pain! |
|
|
|
|
Posted: 11/12/2022 9:42:16 AM EDT
[Last Edit: goloud]
[#49]
Quote HistoryOriginally Posted By dog-meat: When is Coinbase going down? Quote HistoryOriginally Posted By dog-meat: When is Coinbase going down? A more transparent and secure crypto exchange Hi Pete, With the recent liquidity issues in the crypto markets this week, we want to reiterate how Coinbase’s business is different and ultimately better protects your account & digital assets. For the last 10 years, we have built Coinbase in a way that allows us to be transparent about our track record and balance sheet strength, and effectively and prudently manage risk for our 108+ million customers and ourselves. See below for more information about how we keep your funds safe: Healthy Financials Our public, audited financials confirm our financial strength and ample liquidity — we largely hold our assets in USD. We ended Q3 with $5.6 billion in total available USD resources, including $5 billion in cash and cash equivalents. We hold your Assets 1:1 Coinbase holds customer assets 1:1, and we won't lend those assets without your consent. This means funds are available to our customers at any time. Transparent We are the largest publicly traded crypto exchange in the world, and we've been around for a long time, serving customers for over 10 years. Our financial statements are public and released quarterly. U.S. Based Coinbase is based and incorporated in the U.S. We are seeking to work within the U.S. system, because we believe that transparency and trust are essential. Your Funds, Your Choice Coinbase doesn't use, or lend, your assets without your permission. Also, we offer one of the most secure and multifaceted risk management programs designed to protect our customers' assets. This blog post details our prudent approach to risk management and how we keep our customers safe. Industry-Leading Security The technology that powers our platform was developed with industry-leading security and encryption at its core. Our security team is constantly working to make sure you and your assets are protected from emerging threats. Learn more. |
|
|
|
|
Posted: 11/12/2022 9:43:54 AM EDT
[#50]
Quote HistoryOriginally Posted By goloud: What is the cost for power, water, raw materials, transportation, storage, security, and transfer of physical assets like paper money or metals? And all the supporting industries that center around physical assets. Then all the electronic systems on top of it all? And don't forget, the powers that be can render your money worthless by just making more. Quote HistoryOriginally Posted By goloud: What is the cost for power, water, raw materials, transportation, storage, security, and transfer of physical assets like paper money or metals? And all the supporting industries that center around physical assets. Then all the electronic systems on top of it all? And don't forget, the powers that be can render your money worthless by just making more. Good point - and we can make a teeny modification to your statement to illustrate that nothing is really carbon free is it? What is the cost for power, water, raw materials, transportation, storage, security, and transfer of physical assets like lithium batteries and solar panels? And all the supporting industries that center around those assets. Then all the electronic systems on top of it all? |
|
|
|
Win a FREE Membership!
Sign up for the ARFCOM weekly newsletter and be entered to win a free ARFCOM membership. One new winner* is announced every week!
You will receive an email every Friday morning featuring the latest chatter from the hottest topics, breaking news surrounding legislation, as well as exclusive deals only available to ARFCOM email subscribers.
AR15.COM is the world's largest firearm community and is a gathering place for firearm enthusiasts of all types.
From hunters and military members, to competition shooters and general firearm enthusiasts, we welcome anyone who values and respects the way of the firearm.
Subscribe to our monthly Newsletter to receive firearm news, product discounts from your favorite Industry Partners, and more.
Copyright © 1996-2024 AR15.COM LLC. All Rights Reserved.
Any use of this content without express written consent is prohibited.
AR15.Com reserves the right to overwrite or replace any affiliate, commercial, or monetizable links, posted by users, with our own.
