1 BTC = $8.2k, it’s up 735% this yr UPDATE 5/19: BTC @ $42k :damn:
- Thread starter JordanWearinThe45
- Start date
ReasonableMatic
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Imagine not holding any FTM and ALGO
the bossman
Superstar
First it's bitcoin has a "shaky use case". Now the goalpost has been moved to bbbbb-b-but it's not gonna be the only option.
You right breh. They don't know what they're doing. El Salvador président probably should've checked with you first
the bossman
Superstar
Now the goalpost has been moved to bbbbb-b-but it's not gonna be the only option.
You right breh. They don't know what they're doing. El Salvador président probably should've checked with you first
If stating the obvious is moving goalposts then I don't know what to tell you.
All I'm seeing are deflections when the question is raised: Why would anyone use BTC for everyday transactions when BTC is going to the moon?
Your response was basically..."Well it's better than the monetary system that they've used prior", which is true, but it also seems like that would contradict the mission of evening the playing field for the less fortunate and bankless
Vendors, service providers and whoever is collecting debt would be winning cause they're accumulating BTC from everyone.
Gonna get some more trillions of ZOOT at some point
ReasonableMatic
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nikkas still nickel and diming in pissy stairways while we comfortable putting that raw KSM on crypto blocks
KSM 1H chart
The drought
KSM 1H chart
The drought
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I'm on polycat farming FISH. I need to throw some more money into it to farm more.
I'm kicking myself after jumping late into farming CAKE when I was looking at it back in Jan when it was .70 cents.
I was too lazy and bushed it initially because there were too many steps.
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the bossman
Superstar
you loaning any KSM for these parachain auctions? I'm thinkin bout this Moonbeamnikkas still nickel and diming in pissy stairways while we comfortable putting that raw KSM on crypto blocks
KSM 1H chart
The drought
Sbp
Superstar
I netted 30K staking cakeI'm on polycat farming FISH. I need to throw some more money into to farm more.
I'm kicking myself after jumping late into farming CAKE when I was looking at it back in Jan when it was .70 cents.
I was too lazy and bushed it initially because there were too many steps.
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Now the goalpost has been moved to bbbbb-b-but it's not gonna be the only option.
that's just you NOT paying attention.
the only "now" is that you just woke up.
coin interoperability has been a major progression in crypto over the last few years.
one mechanism behind this is explained here: What Are Wrapped Tokens? | Binance Academy
You right breh. They don't know what they're doing. El Salvador président probably should've checked with you first
el salvador doesn't even have its own currency, so yeah they don't know what they are doing.
interesting move and all, but no one is taking lessons from a country that has failed to maintain its own currency.
that would be like the world taking inflation lessons from zimbabwe
or mayweather taking boxing lessons from a youtuber .
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If stating the obvious is moving goalposts then I don't know what to tell you.
All I'm seeing are deflections when the question is raised: Why would anyone use BTC for everyday transactions when BTC is going to the moon?
Your response was basically..."Well it's better than the monetary system that they've used prior", which is true, but it also seems like that would contradict the mission of evening the playing field for the less fortunate and bankless
Vendors, service providers and whoever is collecting debt would be winning cause they're accumulating BTC from everyone.
FX-101
for single transactions (NOT broader economic activity) largely speaking the exchange rate does not matter. it is the movement in the exchange rates which does.
so let's say 1 dollar == 100 yen.
if we ignore transactions costs, if I use 1 dollar to buy 100 yen and then use that 100 yen to buy one dollar, no harm no foul we are back to my initial position of having one dollar.
so now et's say 1 dollar == 100000 yen.
if I use 1 dollar to buy 100000 yen and then use that 100000 yen to buy one dollar, no harm no foul we are back to my initial position of having one dollar.
the rate is (more or less) immaterial.
it is the movement that causes the problem.
el salvador (from what I have read) will guarantee the rate at the point of a transaction, meaning that for all intents and purposes the movement will not be a factor (for the user) when transacting.
so given the way they have set it up, BTC price movements will not be a reason to transact or not to transact in BTC (charges ignored).
holding and transacting (speculation) might be but considering what that normally means for price instability and the fact there will be two legal currencies it is hard to tell what would happen. if BTC became the only legal currency you would expect prices to track it - with the inflationary, deflationary and general instability risks that that brings.
remember in south africa what happened when the currency was unstable (losing value). prices had to be reset several times a day and sometimes minute to minute
. yeah BTC is not going to move as much but you would expect prices to track somewhat.ts = 1m30s
el salvador is only 6 million people and they don't have their own currency even so the risk to the broader financial system are low.
it's somewhat of a cool isolated experiment to see if it actually works.
Secure Da Bag
Veteran
How? You have a link for that?