Crypto (Bitcoin, Ethereum, etc.)

[spurraider21]

I didn't say it was the future. Pretty sure JK said blockchain technology itself was the future

blockchain technology having applications =/= crypto becoming an actually useful currency, though. thats where i see this disconnect. why should i want to buy dogecoin just because i think blockchain tech is potentially useful? why cant we just look at crypto and say "hey ive made money off trading them, and thats really cool?" why do we have to convince ourselves that they are going to serve some greater purpose?

if i thought back in 1996 that electric cars were going to be the future, thats great. doesnt mean i'm going to order 10,000 EV1's from chevy and call it a currency

[baseline bum]

block chains are incredibly easy to trace and verify transactions. it is way easier to trace money on the blockchain than actual cash. the whole "its used to evade taxes or buy illegal stuff" schtick has been debunked many times


everyday crpyto becomes more mainstream. big CC companies, vendors, venues, etc, all kinds of companies are beginning to adopt it. if you think its just going to crash and vanish then you're welcome to, but imho this is just the beginning. the anti crypto crowd has been saying the same since 2010 and 12 years later its still growing

Then why isn't it used as a currency if it's so mainstream? It's treated much more like tulip bulbs than it is currency.

[Trill Clinton]

DeFi banking>>>>traditional banking

Earning 12% interest on my savings vs letting it sit in a bank and only getting back .12% APY is a no brainer for me. Stocks and crypto is my savings account now.

[spurraider21]

DeFi banking>>>>traditional banking

Earning 12% interest on my savings vs letting it sit in a bank and only getting back .12% APY is a no brainer for me. Stocks and crypto is my savings account now.

isnt the 12% interest contingent on the price of your security going up?

[SpursforSix]

you think banks, medicine, and energy were solutions that didnt solve problems? i disagree tbh.

the only problem that crypto has actually addressed is people trying to hide their money or evade taxes or something. otherwise its just a security that people trade on to make money (which is fine, and more power to anyone that makes money off of them). but then it should be regulated as such.

Strongly disagree. Big Pharma is constantly using the unintended beneficial side effects from trials of drugs to push new products. And the financial industry creates layers and layers of derivatives as ways to "hedge" your investments. Even though those products are risky as but most people have no real understanding of the product itself.

I mean...you can follow it all the way to tech companies that leak their technology in tiers so that you're always wanting to buy the newest thing. Oh hey...we've got a better camera than you had before. Here's a commercial with some new that you don't need but you'll buy a new phone anyway.

A big part of the system is built on finding ideas first and then creating a market for them.

[SpursforSix]

DeFi banking>>>>traditional banking

Earning 12% interest on my savings vs letting it sit in a bank and only getting back .12% APY is a no brainer for me. Stocks and crypto is my savings account now.

If you're only getting 12% and holding crypto and stocks, then you've probably missed something. Unless you can say that a large part of that is based on fiixed income. Which is hard to imagine getting 12% on without risk.

[spurraider21]

Strongly disagree. Big Pharma is constantly using the unintended beneficial side effects from trials of drugs to push new products. And the financial industry creates layers and layers of derivatives as ways to "hedge" your investments. Even though those products are risky as but most people have no real understanding of the product itself.

I mean...you can follow it all the way to tech companies that leak their technology in tiers so that you're always wanting to buy the newest thing. Oh hey...we've got a better camera than you had before. Here's a commercial with some new that you don't need but you'll buy a new phone anyway.

A big part of the system is built on finding ideas first and then creating a market for them.

oh. i'm not saying i love every aspect of the financial sector and big pharma's practices. but the ins utions themselves are inherently useful. a world without pharmaceuticals would be dog

[SpursforSix]

oh. i'm not saying i love every aspect of the financial sector and big pharma's practices. but the ins utions themselves are inherently useful. a world without pharmaceuticals would be dog

well yeah...you get some good with the bad. Just pointing out that corps creating demand is often the first step. Not organic consumer demand.

[spurraider21]

well yeah...you get some good with the bad. Just pointing out that corps creating demand is often the first step. Not organic consumer demand.

i think the demand for medications was already there tbh

[SpursforSix]

i think the demand for medications was already there tbh

Or course. And we need plenty of meds. But a good number of these were ineffective for their initial target and then re-purposed for a different malady that didn't necessarily merit a pharmaceutical treatment.

I'm surprised that you don't believe that Big Corp doesn't often create and drive demand.

[spurraider21]

Or course. And we need plenty of meds. But a good number of these were ineffective for their initial target and then re-purposed for a different malady that didn't necessarily merit a pharmaceutical treatment.

I'm surprised that you don't believe that Big Corp doesn't often create and drive demand.

depending on the product, sure. the opioid crisis didnt happen organically. nor did sugar addiction, nicotine addiction, etc

just not throwing the baby out with the bathwater

[SpursforSix]

depending on the product, sure. the opioid crisis didnt happen organically. nor did sugar addiction, nicotine addiction, etc

just not throwing the baby out with the bathwater

Sure...but you just named three of the biggest money makers for said industries.
My point being that when (or if) the financial group gets on board, they'll be pushing crypto. And they'll convince a lot of doubters that it's what they need to be invested in.

[Trill Clinton]

isnt the 12% interest contingent on the price of your security going up?

Not if you stake a stable coin like $USDC pegged to the dollar

[Trill Clinton]

If you're only getting 12% and holding crypto and stocks, then you've probably missed something. Unless you can say that a large part of that is based on fiixed income. Which is hard to imagine getting 12% on without risk.

I get 12% holding $USDC on crypto.com and get my rewards paid weekly.

[SpursforSix]

I get 12% holding $USDC on crypto.com and get my rewards paid weekly.

You're getting a 12% annual payout on that?

[spurraider21]

I get 12% holding $USDC on crypto.com and get my rewards paid weekly.

thats pretty nuts that they're handing out 12% annual on USDC tbh... even getting 8% without locking it in for month+

[Trill Clinton]

You're getting a 12% annual payout on that?

Yes

[Trill Clinton]

thats pretty nuts that they're handing out 12% annual on USDC tbh... even getting 8% without locking it in for month+

Yup easy money

[spurraider21]

Yup easy money

how much are they taking in in fees to justify that, though? not necessarily from you, but generally. i remember back when Ally was offering 2% on basic savings it was a huge deal (they're much lower than that now)

[Trill Clinton]

how much are they taking in in fees to justify that, though? not necessarily from you, but generally. i remember back when Ally was offering 2% on basic savings it was a huge deal (they're much lower than that now)

They make a killing on fees from transactions(deposits and withdrawals) but no annual fee for staking or holding their card. I paid ~$11.50 to buy $400 worth of CRO. I'm sure they have 100's of thousands transactions a day. Plus they lend your $USDC or any other crypto you decide to stake for interest out to borrowers who return it at a higher interest rate.

[spurraider21]

They make a killing on fees from transactions(deposits and withdrawals) but no annual fee for staking or holding their card. I paid ~$11.50 to buy $400 worth of CRO. I'm sure they have 100's of thousands transactions a day. Plus they lend your $USDC or any other crypto you decide to stake for interest out to borrowers who return it at a higher interest rate.

dont you need to be holding at least $4,000 worth of CRO to get that 12%?

[SpursforSix]

Yes

Is that a special rate for black people?

[Leetonidas]

Then why isn't it used as a currency if it's so mainstream? It's treated much more like tulip bulbs than it is currency.

El Salvadors legal tender is BTC. The city of Miami is about to start giving its residents a BTC yield based on their own crypto dividends. Visa now accepts ETH payments. It is becoming mainstream. Not all crypto projects are useful but BTC and ETH by far are the two leading the pack. BTC has proven itself as a store of value and ETH is the biggest blockchain with the most developers and dapps and is only upgrading its network. It's not just about printing coins and pretending they have value. Tbh that is fiat money which is the real coin.

[spurraider21]

how's it working out for el salvador?

[playblair]

none of you will ever cash out & none of you will ever make life changing money but got ahead & brag about the measly $700 youve made after investing $500