1 BTC = $8.2k, it’s up 735% this yr UPDATE 5/19: BTC @ $42k :damn:

[NotaPAWG]

how can they back a fixed amount with a variable amount?

Idc.

but anyways the China fud is a geopolitical chess move to throw the US off to throw the Us off as a super power and dominant influence. China created these headlines itself to make the US and others believe they aren’t taking in serious. Meanwhile what’s actually happening is it’s one of China’s keys focuses in their plans for the next 5 years.

 

[NotaPAWG]

Oh and watch this video

basically the gap between The average persons being able to buy and the rich is closing. The scarcity and price has the rich going directly to the miners instead of exchanges and eventually it’ll be hard to buy it.

most of it will be moved off the exchanges and just be in dark pools. buyers are going straight to the miners and signing exclusivity agreements for years.

 

[null]

Oh and watch this video

basically the gap between The average persons being able to buy and the rich is closing. The scarcity and price has the rich going directly to the miners instead of exchanges and eventually it’ll be hard to buy it.

most of it will be moved off the exchanges and just be in dark pools. buyers are going straight to the miners and signing exclusivity agreements for years.

miners only have "special" control of newly minted BTC right? so even if they get 100% of that (going forward) they just corner 21 mil - ~18,713,700 circulating supply.

and china won't get 100% and 2.3million is not that big of a deal IMO.

I will watch the video if I have time.

 

[jerniebert]

I love these shakedowns. Gets rid of all the experts who joined recently and thought they were going to turn into millionaires off a $100 investment.

 

[ORDER_66]

WTF is Clucoin???

 

[mannyrs13]

I love these shakedowns. Gets rid of all the experts who joined recently and thought they were going to turn into millionaires off a $100 investment.

This just a speed bump in the road.

That $100 gonna turn into a million soon enough.

 

[Rosecrans]

So what is the panic point for btc

 

[GoldenGlove]

Telcoin’s GitHub code showed that an eFiat reference (ex: eUSD, eGBP, eAUD) would be used as part of the stablecoin reference. The premise is as follows:

A user loads fiat onto the app from a credit card or bank account; this gets converted into a $TEL created stablecoin (ex: eUSD, eGBP, eAUD) showing up as a fiat balance on the user’s Telcoin wallet.

When the user sends the funds, the current fiat value of $TEL is referenced from the “coinbase” text string in the code, and then that amount of $TEL is bought for the user.

Remember a stablecoin has to be backed by a reserve fiat, and it is referenced on page 4 of the bill: “Stablecoin means a cryptocurrency designed to have a stable value that is backed by a reserve asset.” The only way this can be done is through a designated financial institution such as partnered banks.

Telcoin has really set itself up to become a robust exchange like Coinbase. For a long time, the focus was on obtaining every regulatory document necessary to proceed, and without the latter, Paul would not be able to appear before government entities, and establish partnerships with traditional institutions like banks and telecoms. If I had to guess, I’d expect them to reveal the bank partnership(s) once the bill has been fully approved, and before the launch of V3.

 

[null]

it's a good idea but you have to lock the rate in (which creates problems for distributed /concurrent processing ). even if you did it on a bid/offer basis you need slippage (and tx's can fail) like on those distEx.

basically what it means is that the receiver is not going to get what you sent. not exactly.

it could go up or it could go down.

 

[#1 pick]

fukkkkk

I'll invest in Bunny as soon as they fix their security measures. This used to happen to Binance early on. Hackers do this shyt for criminals orgs

 

[null]

Brehs about to ride that SHIB price all the way back down. I tried to tell them to sell a percentage, take some profit, set a price to buy back in. Coin is cheap as shyt anyway, you can always buy back in, but they wanted to hodl . Too afraid of missing a spike. One thing I've learned is shyt normally always retraces when there is a big spike, and when you don't think there is going to be a dip, there will be a dip.

 

[GoldenGlove]

it's a good idea but you have to lock the rate in (which creates problems for distributed /concurrent processing ). even if you did it on a bid/offer basis you need slippage (and tx's can fail) like on those distEx.

basically what it means is that the receiver is not going to get what you sent. not exactly.

it could go up or it could go down.

• a trust style wallet that accepts any crypto coins
  
  
• the ability to remit the coins or fiat to anyone (first converting to TEL)
  
  
• any remittance transfers of coins or fiat will then get converted into TEL, it will then use the Matic network (cheap gas and fast, less than 2secs) to make the transaction and then get converted back again to local fiat or the original coin
  
  
• the user also then has the option to earn interest on their wallet coins by staking them as a liquidity provider to sushi swap (see GitHub code)
  
  
• the app works as an exchange to swap any coins to/from TEL. So the app is a DEX.
  
  
• then there’s the best bit, the stablecoin part, fiat gets converted into a TEL crested stablecoin when fiat is loaded onto the app, such as eUSD or eGBP or eAUD then when these stablecoins get converted into TEL the stablecoin are burnt. The TEL is then remitted to the receiver, it stays as TEL until the receiver decides to cash out at which point the TEL is converted back to a stablecoin such as eSGD or eEUR and converted into fiat again by the receiver and then the stablecoin are burnt. The reason it goes through the stablecoin is to then make the TEL price fluctuations irrelevant for the sender and receiver. Meaning, the same amount that is sent is received even if TEL price moons or crashes in between cashing in and out. However, the clever bit is.. TEL is only a stablecoin during remittance, all other times it’s a fluctuating coin as it is today so the price can rise and fall but remittances aren’t affected.

I think they're waiting for Version 3 of their app to really start pushing/marketing this hard. It'll be essentially another DEX and TEL holders will be able to stake within the wallet, the last bullet point speaks to your concerns and questions about the fluctuation in price from when someone sends funds to when someone else receives them.

The more I dig into this, the more bullish I'm becoming.

 

[null]

I think they're waiting for Version 3 of their app to really start pushing/marketing this hard. It'll be essentially another DEX and TEL holders will be able to stake within the wallet, the last bullet point speaks to your concerns and questions about the fluctuation in price from when someone sends funds to when someone else receives them.

The more I dig into this, the more bullish I'm becoming.

Ok thanks. That's a good idea.

I was thinking in the past that one possible way around fluctuations is to store and redeem certificates of external currency rather than fungible internal system currency.

One short-coming in doing it this way (which is more significant for a ccy like BTC) is that an external currency has to exist (to be pegged to) and for the case of foreign transfer probably many.

BTC wants to supplant ccy so "certificates" denominated in another ccy (you want to supplant) don't make as much sense. For TEL is in not an issue.

It's an interesting solution to a common problem. I'm going to look into it a bit more when I have time.

I would buy into TEL but I don't have accounts on any of its exchanges. I had some a while ago but sold it.

Thanks

 

[Tres Leches]

pumpin right now hope this was just a correction

 

[mannyrs13]

pumpin right now hope this was just a correction

Hopefully Europe buying up the dip and we get back to normal by Friday afternoon. Everyone just gotta hold on and it'll be ok. Some coins will recover quicker than others but eventually all our coins gonna make us proud.