Things are really getting bad when the crypto meltdown is driving down G wagon prices!
https://www.curbed.com/2022/11/merce...unt-sales.html
Things are really getting bad when the crypto meltdown is driving down G wagon prices!
https://www.curbed.com/2022/11/merce...unt-sales.html
Likes pretty much everything in every caliber.
This is a thread where I built a boat I designed and which I very occasionally update with accounts of using it, which is really fun as long as I'm not driving over logs and blowing up the outboard.
https://pistol-forum.com/showthread....ilding-a-skiff
I sympathize with the people who were scammed by ftx. But people aren’t going to stop buying the scam cryptos until they get burned and exposed for what they are. I say this as someone who did get burned. A mistake I made was that I viewed it as a way to make short term money. I couldn’t explain why the cryptos had value or what sets them apart from all the other forms of money or assets. Once I studied that I sold everything I had and converted to BTC only because it’s the only decentralized form of money that exists.
Likes pretty much everything in every caliber.
Snippet from WSJ article
Decentralized exchanges, by contrast, require no custody thanks to the blockchain-based innovation of the automated market maker. An exchange attracts liquidity providers, which deposit tokenized assets into a smart contract. A smart contract is a piece of code stored simultaneously on thousands of computers that use the blockchain to agree on the same result each time the code runs. Collectively, the assets in this smart contract provide an inventory for traders who swap them at prices determined by a formula also contained in the smart contract. For this service, traders pay a small fee on each trade, providing revenue to the exchange and a return to the liquidity providers.
Because smart contracts are publicly visible, the funds within them are easy to audit. Because they can’t be altered by any one person (assuming the underlying code is strong), the money is impossible for any one person to steal. Because no actor assumes custody, there’s no risk of theft by a rogue manager. This system requires us to trust bits of public code rather than potentially culpable humans
Likes pretty much everything in every caliber.
Thanks for sharing. I can’t read the entire article without a subscription but the snippet talks about “decentralized” exchanges. Exchanges are centralized (a person, group or org has control) of your funds. But the latter part is spot on.
One of the issues with these exchanges going under is you are buying crypto from them and assuming they actually have the crypto. It’s really an IOU and you’re trusting the exchange that they are good for it if you want to withdraw it. Coinbase admitted if they go bankrupt (like ftx) you’ll lose your crypto. https://fortune.com/2022/05/11/coinb...ngs-stock/amp/
Unless people store it in their own wallet they don’t really own it.
HODLing makes sense. A portion of my paycheck gets direct deposited into bitcoin, so I figure the ammo was purchased with post-drop funds.
There wasn't any particular reason that I couldn't have bought that ammo with a credit/debit card instead. My point was, there are some retailers that will take your crypto currency.
David S.