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Crypto Currency Trading Platforms

AIUI crypto is traded in Tether, a private digital currency or ‘stablecoin’ that usually trades one-for-one against the dollar.

Ironic that the popular investment thesis for Bitcoin revolves around being a solution to central bank currency debasement, yet Tether can seemingly create new stable coins with questionable backing to the dollar.

"a $5,000 increase in its price on 6 October 2021 was attributable to a single $1.6 billion purchase of Bitcoin with Tether. It is reasonable to assume that Tether issuance is still a significant determinant of Bitcoin price movements."

More:
https://www.economicsobservatory.co...tcoin-risen-fallen-in-the-past-day-week-month

Blockchain technology is for real; I smell a rat with crypto trading in its current form.

Yes. Bitcoin is not necessarily a scam but it's definitely very scam adjacent. It's also very popular with Tech Bro Edge Lords who like to tell you you just don't understand it which is enough to put me off.
 
Absolutely. Which is why I say that Cryptocurrency will be, ultimately, a busted flush. It is not far removed from a pyramid scheme.

Blockchain - can be useful. Killer app? Not yet - but maybe it will be just used in a load of important but smaller applications.
Killer App isn’t what you posted, decent Apps abound. The tech is solid just overshadowed by all the coin BS that gets posted/spouted,I’m not sure there will be a Killer App just a gradual adoption and replacement/improvement of current systems - faster/smarter/cheaper to use.
 
Er… have you done the maths behind the gamble? Take Bitcoin City: the bond issue is premised on BTC hitting a unit price of $1m in five years time and staying there. Bukele has been elected to run a largely bankrupt and is running out of options to get his hand on foreign currency to repay debt and pay for imports. By pushing people to use the Chivo wallets and minimising transaction costs, Salvadoreans overseas spend their forex to buy BTC to send to relatives and by going through Chivo, the gov’t holds on to the forex. I’m not saying it’s a scam, but certainly it’s an “alternative way of funding” the nation’s coffers. Something similar will happen to the City bond. Note also the interesting perk that holding $100k worth of bonds for five years grants you Salvadorean citizenship, presumably so you can move to Bitcoin City and pay only VAT.
I’m a firm believer in Central Bank management and regulation of payment systems, and of Central Bank independence. Moving to link your economy and monetary policy to a highly volatile asset that is still gaining its feet, is not a clever move; CBDCs are likely to be the future of “national currencies”. If you want a pretty decent example of one in action, have a look at the Bahamian Sand Dollar.


Simon Dixon can say it far better than me…

 
I can't see bitcoin as anything other than a criminal enterprise. It may not have started that way, but that's what it's inevitably become.
 
Simon Dixon can say it far better than me…


Nothing underlines one's economic credentials more than recording your message in a gym.

[edit]

I see that he's the CEO of an online trading platform funny that), maybe it's part of presenting oneself as a disruptor / the epitome of a modern alternative approach to business.
 
Simon Dixon can say it far better than me…


What a load of tosh! Being pushed to use Chivo, a gov’t funded and owned crypto wallet is what has happened in El Salvador (pedantic point, it’s “the Salvadorean people” not “the El Salvadorean people”) is exactly what he’s complaining about. Cash, whether dollars, euros, or colones, is the only way to pay anonymously, immediately, without censorship or oversight. Chivo, visa/Master/amex, Paypal, all track and monitor your transactions and can shut you off if they want. The same applies to CBDCs.
Note also that less than 2% of day to day transactions in El Salvador happen using Chivo, the majority are still conducted in USD. BTC is just not designed to be a fast, easy, transactional currency. It’s an asset that is being traded and speculated.
 
Believer: Cryptocurrencies will save us from the corrupt banks.
Sceptic: Looks like a Ponzi scheme to me.
Believer: Oh yeah, why are all the banks clamouring to get in on it then?
 
I can't see bitcoin as anything other than a criminal enterprise. It may not have started that way, but that's what it's inevitably become.

Criminal how? You don't believe the nonsense about it being untraceable do you? And I guess nobody ever did anything illegal with cash lol
 
What are you wanting to do Rich? Crypto.com is about as legit and noob friendly as it gets.

Seems to have endless terrible reviews on Trustpilot with people complaining they can't access their money. Same for Coinbase. I guess any business like this gets it's share of bad reviews. Are these really the least sketchy platforms? Like Richard G just looking to mess around.
 
Seems to have endless terrible reviews on Trustpilot with people complaining they can't access their money. Same for Coinbase. I guess any business like this gets it's share of bad reviews. Are these really the least sketchy platforms? Like Richard G just looking to mess around.

Crypto.com and coinbase are massive, a lot of poor reviews with anything crypto based is often down to user error or not understanding how it all works.

I've never had any problems with the big exchanges but that isn't to say some people haven't.
 
Nothing underlines one's economic credentials more than recording your message in a gym.

[edit]

I see that he's the CEO of an online trading platform funny that), maybe it's part of presenting oneself as a disruptor / the epitome of a modern alternative approach to business.

Of course, I forget anything (or one) that strays away from convention and doesn’t defer to type, of being suited and booted in an office environment, trading floor etc. must be lacking in credentials, give me strength!

I suppose you thought Steve Jobs didn’t have a clue because he took to the stage in jeans and a t-shirt

SD doesn’t hide that fact or that he came from an Investment Banking background and that he is the CEO of an online trading platform, and to his credit, in the videos I have watched of his, he doesn’t push any of this either

Simon is just one of many crypto guys that’s I subscribe to, it pays to have a balanced view…
 


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