Tell us how are you going to kill an asset(BTC) that is now fungible across multiple blockchains? Answer: you can't.
The Cryptocurrency Trading Journal
- Thread starter Daal
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Excellent response, and I can't argue with this. But honestly, since we know the government needs to keep a tight grip on the money system used within its borders, it has get involved eventually. As much as I don't like what the FED is doing to the dollar, I'm not sure how far a country can grow with multiple competing currencies. If what the market needs most is consistency, then having multiple cryptos making a move on the only approved currency will lead to anything but consistency.
At some point I have to start wondering why is anyone even selling BTC? Why does the miner sell today if its guaranteed to be higher 6 months from now. Eventually, if nobody wants to sell, then BTC ends up being completely useless.
Easy. Any US broker of crypto gets shut down and can't do business in the US.
Sure, take your BTC and exchange for another currency in some other country, but now you're stuck trying to launder money like criminals and will lose a good percentage in order to try and get it back to the US.
Your not even on the same level of thought as my statement.
Before we even go there, think about your statement real hard. International wire fees are <100 USD. Coinbase is worth multiple billions.
Binance(non-US)/Kraken/Bitstamp/any reputable exchange etc also accepts fiat and will wire to most OECD in currency of choice. You have no argument other than "bad" crypto.
I haven't even begun to rip you a new asshole on Defi. You are in way over your head.
I think DeFi is a decent addition to a core BTC/ETH/ADA DOT portfolio. Other than that it seems a bit difficult to analyze the projects. Everything seems so great but I learned from my mistakes in 2018 that tons of projects look great, right until they drop 95%+ and never come back. So its tough, I do plan to read Mastering Ethereum (already finished Mastering Bitcoin) and do some smart contract programming to acquire the necessary technical knowledge to be able to even analyze other projects. We will see how that goes
The idea that corporates were going to buy bitcoin seemed a little far fetched, even to me. I thought it was going to be mostly hedge funds, pension funds, etc. But its happening
https://bitcointreasuries.org/
Tesla will take the popularity of that to a whole new level
Some say that central banks will start to buy it, starting by small CBs from small nations where a 200% gain can literally change the entire fiscal balance of the nation (and election outcomes). This possibility can no longer be dismissed
https://bitcointreasuries.org/
Tesla will take the popularity of that to a whole new level
Some say that central banks will start to buy it, starting by small CBs from small nations where a 200% gain can literally change the entire fiscal balance of the nation (and election outcomes). This possibility can no longer be dismissed
Thus the beauty of stablecoin AMM & Arb when providing initial Liquidity.
can you expand more on what you mean?
Curve.fi uses a basket of deposited stablecoins and algorithmically harvests yield by auto-rebalancing the liquidity pools.
Yearn built on that by giving one the option of depositing those yPool LP tokens into Yearn instead of Curve so that one could also generate earnings via fees of transactions into and out of the yearn vaults: CRV->yCRV. Yearn was harvesting the yield generated by Curve. Curve distributed the yield through a governance token. Yearn sold off these tokens to generate yield for yCRV. There is also a small performance fee.
So any deposits into the vaults are worth more when withdrawing due to the accumulation of fees.
So now one has a vault of stablecoins generating earnings via Automated Market Making via the various liquidity pools as well as any arbitrage opportunity that comes from price distortions across venues.
Yearn has built the infrastructure to develop rapidly and has done so. It’s also why it spawned so many copycats.
So with the whole food farming craze, it really focused on the idea of giving incentives in the form of a native token paid as ‘interest earned via APY’ for being willing to provide liquidity. The high APY’s are there to incentivize participation as well as offset the impermanent loss that a LP will incur being an early provider of liquidity.
It’s not bad if the liquidity pair are correlated but if one is much more volatile then one has more of the less-desirable asset when they go to withdraw from the pool.