the words “Poker Prodigy” puts me on tilt. fuck off.
I think Litecoin is useful but it’s a mischaracterization to say it’s superior to Bitcoin in every way, and believe that even Charlie Lee will tell you that. There are trade-offs between shorter vs longer block time. In general, as block times get shorter and shorter you are sacrificing decentralization for scalability. For Bitcoin, we have the L2 lightning network as a potential solution for scalability, which LTC also uses (because it is the test network for Bitcoin).
Russ Hamilton was the goat player because results say so!
It definitely seems like the pervasive scamminess of the crypto is a problem for pretty much every potential real world application. A trustless protocol allows you to create a system where you don’t need to trust every participant explicitly. It doesn’t allow you to create anything worthwhile in a world where you shouldn’t trust any participant, ever, because they’re all trying to rip you off. Trust is still king, even in a trustless world.
It’s looking more and more like there was indeed a bailout for Terra, but only for the fat cats.
something something “fiat cats”
maybe in Teddy KGB’s voice
I’ll work on it
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Bitcoin (BTC) has fallen 40% since April, and this is no longer due to its correlation with equity markets, Morgan Stanley (MS) said in a research report dated May 12.
“Hyped and leveraged areas of crypto, such as decentralized finance (DeFi) and crypto-backed stablecoins, are seeing mass liquidations, as it is becoming clearer that all the elevated prices were traded on speculation, with limited real user demand,” analysts led by Sheena Shah wrote.
Non-fungible tokens (NFTs) and digital land have been subject to much speculation and inflows, the report says, adding that the reason most people bought these assets was based on the expectation that another buyer would want to purchase them for a higher price in dollars.
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The rest of their argument aside, I always hate when this is used as a negative argument against an investment. It’s literally the entire idea behind investing in an asset. People buy assets with the expectation that someone else will want to buy that asset at a later date for a higher price. But this argument only gets brought up when someone wants a reason to negatively portray a particular asset.
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Just so weird this stuff keeps happening
https://twitter.com/anthony/status/1526228511018598401?s=21&t=s2N-v-VAr8ujyexQ_D1Tpg
Depending on swongs, and during swongs post counts go up, the thread is quickly approaching 10k replies. Is there anyone that would be willing to craft an OP for the next thread? I am not the right person to do it because I don’t know shit about metamasking my crypto for a pancake swap on the Coinbase FTX rabble rabble, however I think it is a great time to add some really good info to answer some commonly asked questions and point out some conversations that have already happened, hopefully in an attempt to reduce the frequency of the higher animosity discussions.
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Not true of many assets. A lot of people are perfectly happy holding bonds to maturity and receiving interest payments. Others focus on stocks that pay reliable dividends and care more about the income stream than the share price.
Nope. There’s a difference between an asset that generates an expected return based on discounted future cash flows and one that does not.
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I think he’s rather amused by the outcome, but maybe he’s legit upset.
Well, no. People buy stocks/bonds partly because they generate dividends/interest.
Buncha senior citizens in here jumping on me for not explicitly stating non-dividend/interest paying assets. Those 1-2% payments are definitely the main reason people invest in the stock market too!
I must have bought the wrong NFTs, because none of them are paying me dividends. One does let me play virtual tennis games, though, so I’ve got that going for me.
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Seems like you still don’t get it.
Please sir, explain it to me.
No, your tokens are not doing that any more than a gold coin or a baseball card is.
Well for one thing the dividends I get owning companies that make money can be reinvested and compound in a way that’s pretty damn cool after a decade or two. Or, even cooler, the companies can reinvest their profits without giving them to me (yet), allowing me to defer taxes on those earnings (which belong to me whether or not I have the cash today).