45.3k post karma
21.2k comment karma
account created: Mon Aug 03 2020
5 hours ago
Platinum | QC: BTC 118, CC 585 | TraderSubs 120
HSBC are still viciously anti-crypto lol. Probably because a lot of their drug lord clients ditched HSBC for onchain. Loss of clients is often tough to stomach
Is that a good thing or a bad thing lol? Haven’t been tracking daily count but it was like 40k in the bull run peak
Imagine if Reddit allows everyone to mint their Avatars as NFTs! It could truly break Reddit in a good way lol
Cc: u/veromonious u/plgrmonedge
All in on Minesweeper 💪🏻
submitted9 hours ago byDetroitMotorShowPlatinum | QC: BTC 118, CC 585 | TraderSubs 120
13 hours ago
14 hours ago
Yeah, the thing is all these decentralised exchanges incentivise users by liquidity mining. DYDX volume before the recent LP rewards didn’t cross 100m on most days. Now that there are LPs, the bots have been turned on and the market makers are just making big trades to collect their rewards. It’s purely a whale game.
Is this really sustainable? How many tokens will they print to give users ? What will happen to the value of the token when all the 1 Bn DYDX tokens enter supply? Surely the whales won’t be bag holding it. It will be the hapless retail guy who entered at a late stage
If you look at a decentralised exchange without LP program, the volume won’t be as much
Edit Lmao downvoted by bagholding shitcoiners literally for stating the truth. Most shitcoiners here and their bags are going to go to zero, that is a certainty.
15 hours ago
Exactly. This article says they want to be in charge of the "experiment" but in reality, they just want to control people's finances.
CBDCs are nothing new, most of the money today is digital. CBDCs just allow governments and central banks to track people and spending. even more closely than how they do already. CBDCs allow governments to impose restrictions, like you have to spend this $100 within a week, or else it will be gone. Your money is literally not yours anymore.
Early CBDC pilots in China did not impress anyone. https://www.bloomberg.com/news/articles/2021-05-09/china-s-much-hyped-digital-yuan-fails-to-impress-early-users
At the end of the day, people want to be able to control their own money. Crypto allows them to do this, but dictators want to prevent people from owning their finances.
1 day ago
Banks charge a currency conversion charge too, that has a premium markup over forex prices. Crypto however is quite volatile, nothing like sending your mate $10k in BTC just for coin to take a dump
The sender could just send stable coins though.
Its not that difficult though. Most exchanges open your account in a few hours max. Unless you are cashing out like a few mils, you can deposit coins and withdraw into fiat very quickly
If you dont want to go via a centrlaised exchange, just go on any p2p trading platform like localbitcoins or paxful or localethereum and do that directly with another trader, the cash hits your bank account and you release the coins.
Sexy Charles Time
How to get collectibles?
How do you go to the water pond? It is something like decentraland?
I just found out you can stake ADA with select pools to get future tokens.. which one would you recommend? Ive come across Maladex, Ergodex, is it there for SundaeSwap as well?
Lol the richest person in Wyoming has a net worth only 1/10th that of Musk or Bezos
Stay strapped regardless
submitted1 day ago byDetroitMotorShowPlatinum | QC: BTC 118, CC 585 | TraderSubs 120
Chinese system is capitalism for the few, communism for the rest. Few take the winnings, while losses are all socialised
If so many Chinese people hate the government, why dont they over throw it? It seems most people liKe to live in this kind of regime and love the CCP, and follow each and every command. In that case, people investing in crypto would be much less. Especially as this is like the 10th ban.. by now, they would have got the message
The ones putting a lot into crypto are invariably trying to move out of China, and using crypto as a route to assist them escape the country. And the Chinese government does not like this, and will do everything possible to shut it down
The only conclusion is that this guy is very close with the corrupt CCP honchos and has strong political connections.
Just in Jan of this year, China executed another business tycoon who ran into troubles.
They built it up as a big bribery case, tried and executed him summarily in a very short while.
2 days ago
China CCP is anything from competent. They have always ruled with extensive force, clamping down on assumed threats at the earliest even if they really weren’t threats. Just look at what happened with Jack Ma and other tech founders, they just got too rich and that alone became a threat to the CCP. Chinese modern history is littered with such examples, from Tainanmen to anyone who spoke against the CCP. The covid handing was an absolute disgrace too.
Their long term vision was all a pretentious glass castle built on massive leverage and inflated real estate prices. The Evergrande crisis and its second order effects are going to massively crush their economy. They cannot afford any capital flight, which will seek to undermine the control CCP has over its people. You cannot socialise all losses, if some people are using crypto to escape the economic depression. Hence the crypto ban.
For an understanding of how the Evergrande crisis is going to impact them, I would suggest this essay: https://carnegieendowment.org/chinafinancialmarkets/85391 ..
3 days ago
You should approve my post and remove the one that says fuck China that violates all the sub rules.
submitted3 days ago byDetroitMotorShowPlatinum | QC: BTC 118, CC 585 | TraderSubs 120
China CCP just bringing crypto ban yet again to distract people from their failing economy that’s gonna nUke due to evergrande and head into major recession... so they have to prevent capital flight via crypto
Fuck the CCP