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HOT TOPIC Bitcoin / Cryptocurrency Discussion (And Predictions)

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Timmy C

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Heres a crazy stat.
In 2018 I decided to buy $400 of VET.
That investment is now worth $10,000
If I didn't take profits it would be $30,000....donno how I feel about that...
Absolutely crazy returns for such a small investment.
 

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TinyTim

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Heres a crazy stat.
In 2018 I decided to buy $400 of VET.
That investment is now worth $10,000
If I didn't take profits it would be $30,000....donno how I feel about that...
Absolutely crazy returns for such a small investment.
It really is crazy.

My father put in around 20k near the 2018 top ($7 ven), but then doubled that investment at the very bottom. Safe to say he can retire for life.
 

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Billionaire investor Ray Dalio’s fears of governments outlawing bitcoin (BTC, -2.63%) to preserve their monopoly over currencies have come partly true in Turkey.

The currency crisis-riddled country announced a ban on cryptocurrencies as a means of payment early Friday, souring the mood in the bitcoin market. The ban is to take effect April 30.

“It is considered that their use [crypto assets] in payments may cause non-recoverable losses for the parties to the transactions due to the above-listed factors, and they include elements that may undermine the confidence in methods and instruments used currently in payments,” the Central Bank of the Republic of Turkey said in a press release titled the “Regulation on the Disuse of Crypto Assets in Payments.”

Bitcoin has come under pressure in the past few hours, falling from $63,000 to $60,700 to trade 3% lower on a 24-hour basis. The weakness is almost certainly due to Turkey’s decision as it could set a bad precedent for other crisis-riddled countries struggling to protect their currencies. Morocco has already enacted such a ban and India is expected to introduce one shortly.

Dalio warned of coming government curbs last month. “Every country treasures its monopoly on controlling the supply and demand. They don’t want other monies to be operating or competing, because things can get out of control,” the founder of Bridgewater Associates, the world’s largest hedge fund, told Yahoo Finance.

Cryptocurrency proponents have long argued that bitcoin is a better means of payment than gold or fiat currencies because its supply is cut by half every four years via a programmed code known as mining reward halving. That puts bitcoin’s monetary policy in stark contrast to inflationary policies adopted by the Federal Reserve and other central banks.

Citizens of countries facing high inflation and fiat currency crises, such as Turkey, have turned to bitcoin in the past few years, raising hopes of widespread adoption across the globe. Turkey’s inflation topped 16% last week, and its currency lira has depreciated by 10% this year, having dropped by 24% in 2020. The country sold almost 11.7 million tons of gold in February, as reported by Arab news.

Readers should note that Turkey’s latest ban does not stop Turkish citizens from trading cryptocurrencies. They can still buy bitcoin as a hedge against inflation. However, exchanges could face some complications due to the payments ban.

“Local exchanges and some global ones are using regulated payment providers like Papara and Ininal to deposit/withdraw Turkish Lira,” Onur Gözüpek, cryptocurrency consultant at crypto exchange BtcTurk Pro, told Coindesk in an email. “After April 30, these providers will not be able to send/receive payments between cryptocurrency exchanges.”

“Users will still be able to deposit/withdraw Turkish Lira through banks in Turkey. Trading will not be affected,” Gözüpek added.
 

Timmy C

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Billionaire investor Ray Dalio’s fears of governments outlawing bitcoin (BTC, -2.63%) to preserve their monopoly over currencies have come partly true in Turkey.

The currency crisis-riddled country announced a ban on cryptocurrencies as a means of payment early Friday, souring the mood in the bitcoin market. The ban is to take effect April 30.

“It is considered that their use [crypto assets] in payments may cause non-recoverable losses for the parties to the transactions due to the above-listed factors, and they include elements that may undermine the confidence in methods and instruments used currently in payments,” the Central Bank of the Republic of Turkey said in a press release titled the “Regulation on the Disuse of Crypto Assets in Payments.”

Bitcoin has come under pressure in the past few hours, falling from $63,000 to $60,700 to trade 3% lower on a 24-hour basis. The weakness is almost certainly due to Turkey’s decision as it could set a bad precedent for other crisis-riddled countries struggling to protect their currencies. Morocco has already enacted such a ban and India is expected to introduce one shortly.

Dalio warned of coming government curbs last month. “Every country treasures its monopoly on controlling the supply and demand. They don’t want other monies to be operating or competing, because things can get out of control,” the founder of Bridgewater Associates, the world’s largest hedge fund, told Yahoo Finance.

Cryptocurrency proponents have long argued that bitcoin is a better means of payment than gold or fiat currencies because its supply is cut by half every four years via a programmed code known as mining reward halving. That puts bitcoin’s monetary policy in stark contrast to inflationary policies adopted by the Federal Reserve and other central banks.

Citizens of countries facing high inflation and fiat currency crises, such as Turkey, have turned to bitcoin in the past few years, raising hopes of widespread adoption across the globe. Turkey’s inflation topped 16% last week, and its currency lira has depreciated by 10% this year, having dropped by 24% in 2020. The country sold almost 11.7 million tons of gold in February, as reported by Arab news.

Readers should note that Turkey’s latest ban does not stop Turkish citizens from trading cryptocurrencies. They can still buy bitcoin as a hedge against inflation. However, exchanges could face some complications due to the payments ban.

“Local exchanges and some global ones are using regulated payment providers like Papara and Ininal to deposit/withdraw Turkish Lira,” Onur Gözüpek, cryptocurrency consultant at crypto exchange BtcTurk Pro, told Coindesk in an email. “After April 30, these providers will not be able to send/receive payments between cryptocurrency exchanges.”

“Users will still be able to deposit/withdraw Turkish Lira through banks in Turkey. Trading will not be affected,” Gözüpek added.
I agree with the Turkish government on this law.

You should 100% hold your bitcoin and not sell it or exchange it.

It's to valuable.

The Turkish government is like Batman in the dark night!

Not necessarily the hero we want, but the hero we need.
 

AceVentures

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Billionaire investor Ray Dalio’s fears of governments outlawing bitcoin (BTC, -2.63%) to preserve their monopoly over currencies have come partly true in Turkey.

The currency crisis-riddled country announced a ban on cryptocurrencies as a means of payment early Friday, souring the mood in the bitcoin market. The ban is to take effect April 30.

“It is considered that their use [crypto assets] in payments may cause non-recoverable losses for the parties to the transactions due to the above-listed factors, and they include elements that may undermine the confidence in methods and instruments used currently in payments,” the Central Bank of the Republic of Turkey said in a press release titled the “Regulation on the Disuse of Crypto Assets in Payments.”

Bitcoin has come under pressure in the past few hours, falling from $63,000 to $60,700 to trade 3% lower on a 24-hour basis. The weakness is almost certainly due to Turkey’s decision as it could set a bad precedent for other crisis-riddled countries struggling to protect their currencies. Morocco has already enacted such a ban and India is expected to introduce one shortly.

Dalio warned of coming government curbs last month. “Every country treasures its monopoly on controlling the supply and demand. They don’t want other monies to be operating or competing, because things can get out of control,” the founder of Bridgewater Associates, the world’s largest hedge fund, told Yahoo Finance.

Cryptocurrency proponents have long argued that bitcoin is a better means of payment than gold or fiat currencies because its supply is cut by half every four years via a programmed code known as mining reward halving. That puts bitcoin’s monetary policy in stark contrast to inflationary policies adopted by the Federal Reserve and other central banks.

Citizens of countries facing high inflation and fiat currency crises, such as Turkey, have turned to bitcoin in the past few years, raising hopes of widespread adoption across the globe. Turkey’s inflation topped 16% last week, and its currency lira has depreciated by 10% this year, having dropped by 24% in 2020. The country sold almost 11.7 million tons of gold in February, as reported by Arab news.

Readers should note that Turkey’s latest ban does not stop Turkish citizens from trading cryptocurrencies. They can still buy bitcoin as a hedge against inflation. However, exchanges could face some complications due to the payments ban.

“Local exchanges and some global ones are using regulated payment providers like Papara and Ininal to deposit/withdraw Turkish Lira,” Onur Gözüpek, cryptocurrency consultant at crypto exchange BtcTurk Pro, told Coindesk in an email. “After April 30, these providers will not be able to send/receive payments between cryptocurrency exchanges.”

“Users will still be able to deposit/withdraw Turkish Lira through banks in Turkey. Trading will not be affected,” Gözüpek added.

FUD. Bitcoin is at a crazy ATH. It goes down 3% after making insane gains and the world loses it. In either case, Bitcoin as a narrative has already crossed the chasm from early adopter to early majority. Public companies and large institutions at play at this point - even SEC pushing for ETFs by EOY.

ETH is making an entrance with DeFi - and the crossing the early adopter to early majority chasm is getting closer and closer by the day.

CNBC did this bit on DeFi after the COIN listing and it's honestly pretty spot on - I'm impressed at how quickly the narrative is picking up, and how well CNBC managed to represent the idea to a broad audience.

View: https://twitter.com/Kr00ney/status/1382832678395809796


DeFi is growing at an exponential rate, and the potential for it is far greater than the global gold reserve. People afraid of a BTC crash should rejoice in an ETH pump - because that money is going to stablecoins to generate yield - they're not going back to traditional banking instruments. To cross the chasm, DeFi needs to solve issues around fees, limited scalability, new buzzwords that people have to learn, poor UI/UX, limited on-ramps, and a lot of DeFi looks straight up like a scam, and to be fair most things are.

But fear not - end-to-end DeFi products are being refined and becoming closer to the offerings of a centralized exchange. This means that a user can seamlessly go from their bank to DeFi in a few clicks. Companies like Dharma and Argent are solving this issue but are still hampered by ETH limitations.

DeFi will cross the chasm, not a matter of if but when - and honestly at the pace at which things are going, I would say by this summer you would see DeFi explode to something it's never done before. That's my bet, and not financial advice.

Oh did you see that Rothschild Investment Corporation just bought a shit ton of ETH?

View: https://twitter.com/MacroScope17/status/1382786555547377669


These are contrarian thoughts - and I may very well be completely wrong. But there are patterns I'm following - not based on charts - that all point to the same thing -> ETH and DeFi blossom.
 

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And I think the selloff from blue-chips overnight was people on Robinhood/CB and shit exchanges that offer only 5 coins dumping their bags to chase the DOGE run.

If anything crashes, it's pumps like DOGE and XRP that don't seem rational. Maybe DOGE lives at $1 dollar and becomes the currency of the internet and the XRP army gets to shit on every fundamental consideration possible. Or not.

But that doesn't change the fact that our global infrastructure is benefiting from Blockchain and is not stopping. It also doesn't change the fact that the largest self-regulating and self-funding global computer is rapidly attracting the brightest minds in the world to build an open-source peer-to-peer network against all odds.

Maybe it's because there is no escaping this vision that I have such strong convictions - as agent Smith would say it, it's inevitable. You can't stop the internet - you can't stop global distributed nodes from networking with each other. You can't ban that. You can only ban yourself from participating in it.
 

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What is money? What is truth? It's a shared belief.

People can have a shared belief within a system that has controls - or they can have a shared belief within a system in which some players get to give and take based on a set of rules only they come up with.

People in Venezuela were farming for gold on Runescape to make a living before ETH and DeFi were huge. People in the Philippines that make $400/mo playing Axie Infinity and can feed their families - they're getting to participate in the global economy despite what their local hoodlum politicians decide for them. Same as everywhere in the world.

You're told this current economy, this game we're all agreeing to consider truth right now, that the group that's supposed to represent the wellfair of the Economy at the WEF is talking about resetting the game because there's too much debt.

You're told by the Fed the US will be at 0% rates for the foreseeable future and that much more "QE" ie manipulating the system needs to take place in order to keep the boats floating.

You're told that the banks made a KILLING this quarter, defying all odds and expectations. And that while everybody in the world got poor and had their rights taken from them, that the same people that performed this act of treason against their people filled their own pockets.

Then you're told there's an army of the smartest people on the planet building a network for finance with the aim of rebalancing the assymetric power from these nasty players in the game, and that this network is building upon itself and compounding exponentially. There are 2300 active developers around the world building on Ethereum. These people don't have a 401k and stay at their computer 9-5 moving their mouse just to get their pay - they're redefining what it means for people to communicate with one another free from the f*ckery that is currently plaguing the game for everyone.

Then you sell your ETH to PayPal and the Rothschild and pat yourself on the back for being able to pay off your mortgage even with some extra USD left over!

Then the rest of the world that is NOT the US, that has been marginalized by their own poor leadership and historic lack of education combined with self-serving foreign policies of certain militaries, gets to use their $50 android phone to tap into a global network of education and finance. They build a new economy and participate with each other. They establish a new "shared belief" or money or whatever you want to call it. And you're left with Peter Schiff holding the USD bag claiming everything else is a scam.

I'm afraid the US misses the boat while organizations that have more consensus around long-term vision can invest in and participate in game-changing technology. China is leading the next technological revolution, and I'm worried the US wastes it's time talking about which 2563th rule they should invent to protect invisible transgenders' bathroom privileges while playing partisan games for petty 4 year terms fraught with polarizing and never-ending bullshit. Where does the innovation take place?

Maybe I'm an idealist - but I would fight for this vision of a decentralized economy because it's what the world needs right now.
 

Matt Sun

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I bought Iota at 0.18 so doing quite nice right now at 2.30 .
I haven't taken profits yet since I think it will pass its ATH .
What I have been doing is selling my inicial investment when I see a pump (like from 2 to 2.40 I sold). and buy back at a lower price just minutes or hours later (sold at 2.37, bought at 2.20, made $410 by just a few clicks). If it goes parabolic I still win cause I don't sell all my position. if it goes down I win more tokens. Though this seems too easy way to make money for me. There must be a catch agains what I'm doing... is it ? (besides a huge price drop / bear market comming etc).
 

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Want to check which chains people are actually using?


Instead of going to miners, those "fees" become cashflow for the protocol in a PoS consensus protocol. That's whats happening with ETH and why it's so exciting - the sheer number of volume required of the protocol would capture so many fees back to the stakeholders that they would even be burning some of it.

Algorithms become cashflow machines for your assets in DeFi. Where do you get the best yield? There are protocols that can algorithmically move funds from borrows to lenders across different chains, different services, optimizing for the highest APY. (there is no free money don't forget and don't get rugpulled)

For example Yearn Finance has "vaults" - this collateral in the vault is managed via different farming strategies to optimize for yield. Incentives can be added for individual strategy creators even to receive royalties - people can create and manage their own hedge funds. Risk can be associated with yield curves and insurance services provided against secured collateral.

Smart contracts + cryptocurrencies = interesting financial games.
 
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mguerra

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Smart contracts + cryptocurrencies = interesting financial games.

Amazingly interesting, I'd say.

I believe there will be PLENTY of opportunity to all of us here on this forum exploit and get rich on this next decade.

The economic freedom to live your whole life free of financial stress (wich is the reason we're ALL here) may be much closer than you think if you do the right moves.

Even for those who are 'naysayers' of crypto right now, It's really smart to dive deep into this industry, understand the technology and look for the opportunities to sell shovels on this gold rush 2.0 we are about to enter.

I'm not talking just about crypto, but blockchain as a whole (and the emerging technologies that will follow it).

C'mon, people! Right now it's easier than EVER to get rich.

The amount of money that will be changing hands and literally FLOATING on the market the next years is mindblowing...

Follow the money.

Seriously, just for being here on this forum I feel that we have an UNFAIR advantage over the general public.

The ideas and strategies discussed here, the mindsets we have (associated with having read TMF), the abundance of success stories from other fellow fastlaners and plenty of golden gems and sneak peaks into their process...

We have one of the best corners of the internet right here, guys!

There's really no excuses to not achieve your financial goals now.

The opportunities are everywhere.

All it takes is execution.

--
PS: I've come across a post on twitter these days that is PURE GOLD and explains the transition we are living right now in the world. I, personally, got LOTS of insights reading it.

Really recommended reading:

View: https://twitter.com/TheRealEstateG6/status/1376533510941507584?s=19
 

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Timmy C

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Want to check which chains people are actually using?


Instead of going to miners, those "fees" become cashflow for the protocol in a PoS consensus protocol. That's whats happening with ETH and why it's so exciting - the sheer number of volume required of the protocol would capture so many fees back to the stakeholders that they would even be burning some of it.

Algorithms become cashflow machines for your assets in DeFi. Where do you get the best yield? There are protocols that can algorithmically move funds from borrows to lenders across different chains, different services, optimizing for the highest APY. (there is no free money don't forget and don't get rugpulled)

For example Yearn Finance has "vaults" - this collateral in the vault is managed via different farming strategies to optimize for yield. Incentives can be added for individual strategy creators even to receive royalties - people can create and manage their own hedge funds. Risk can be associated with yield curves and insurance services provided against secured collateral.

Smart contracts + cryptocurrencies = interesting financial games.
Everyone is building and using ETH.
There is no ETH killer.
Fees = Usage.
FEW.
 

Entire

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How are you getting your coins?
are you buying them?
Because if so, you're missing the point.

A few years ago, I put money into something called ''Bananacoin''
I redeemed them and was shipped a crate full of bananas. Essentially the price of bananas was tied to the coin.

Banana coin isn't tradeable on any exchange. I can't swap out a crate of bananas for a single Eth. In fact, the entire exchange was done by giving out my routing and account number, then supplying an address to send me coins. Scary, to say the least, I used a new account to make the trade.

But what if it was? What if I could pay for the train, buy tickets, purchase a car with a virtual token that's swappable for the current value of bananas? Sure, that's a fantasy akin to craziness, but that's exactly where we are today.

The value of money isn't tied to the state fiat of the coin.
With banana coin I could move to a developing country and bring bananas of a lifetime. I could move to the tropical rainforests of Africa and be the banana king. I could live in a shack and survive on bananas until I died of radiation poisoning.

But at no point during my (short) lifetime would I need to interact with a banking system again. I could go so far off-grid I'd only show up to the systems that track people in the pretense of off-grid living.
None of this happened. I traded in my coins for bananas and received far more nanners than I knew what to do with. I made banana bread. I gave away bananas and told people I'd bought them with an online token.

I invested again in titcoin. no that's not a typo.
I thought it was a clever idea to pay sex workers, who frequently can't get paid. It went tits up. I lost everything put into it, which wasn't much. I decided never to go balls deep in a coin again.

The same thing could have happened. In a near-distant future titcoincould have been accepted as a fiat currency. Lord knows Mark Zuckerberg is trying to do this himself, desperately attempting to create a fiat currency for the world to use. After all, anyone who figures it out is an instant millionaire.

Let's go back to what I said before
how are you getting this coin>?
Because if you are buying it, you're missing the point.

If you are trading pounds for some new or old coin online, you are playing tamogatci with existing currency.

The real power of crypto is its anonymity.
When you mine a coin (haha good luck!) you own an untraceable asset.
If I mine my own BTC I can buy a phone registered to someone else. I can buy a home, rent a plane, and I can do it in seconds. I don't have to wait for contracts, papers, lawyers, or ANY other red tape. Not that I need to do any of the above, but the possibility is there.

That power causes animosity.
With good reason, governments don't want invisible citizens.
and there are protections in place to ensure that the moment you trade crypto outside it's own circulation and exchange it for dollars, pounds or your state currency that it's tracked to the teeth.

Try it yourself. Register for a new exchange —driver's license, a photo of your face, heck maybe some fingerprints. Go to a bitcoin ATM and read the notice on the machine. Pay attention to the person who's slowly eaten the same sandwich for the past year in the same chair, a plainclothesman. Look up. Yeah, that's a facial recognition camera that costs as much as your car.

Crypto on an exchange is a farce.
Speculation on day-to-month prices, people using money to buy coins with the intent of ''mooning'' them, it's a farce.
Sure, you can make or lose money betting on how a coin raises or loses in value. But that isn't the real power. It never was.
 

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I read the long post @Entire and I still don't get "the point" you are trying to make.
 

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My strategy is to buy XRP before the Ripple vs. SEC case settles. Assuming Ripple comes out on top, XRP will be rocket fuel. It's targeted as a de facto universal international currency that can be used in forex transactions. An XRP transaction on the RTXP takes 4 seconds, compared to bitcoins 10 minutes. That speed is ultimately what makes it enticing as a trading vehicle.

Citi bank, among others, have already been testing it as a means to optimize international transactions.

 

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Holy cow.

I'm surprised by how high-quality the guides and resources on learning about blockchain development are.

Especially if you're learning about ETH development. For something that seems so mysterious and difficult, I think it's much easier to learn and get a good grasp of blockchain development than main-stream web/software development. The resources are just that much better!

As a developer, you can tell how well a project/API/software is based on a few things such as their documentation and their code. And by just looking at the open source ETH projects, It's obvious how much ETH developers care about their documentation & code.
 

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Timmy C

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We need a counter trade indicator made with AI-based on peter Schiff's tweets regarding Bitcoin.

Words such as:

Bitcoin+ bear market
Bitcoin +dead

Should be instant buy orders that are placed.
 

404profound

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Holy cow.

I'm surprised by how high-quality the guides and resources on learning about blockchain development are.

Especially if you're learning about ETH development. For something that seems so mysterious and difficult, I think it's much easier to learn and get a good grasp of blockchain development than main-stream web/software development. The resources are just that much better!

As a developer, you can tell how well a project/API/software is based on a few things such as their documentation and their code. And by just looking at the open source ETH projects, It's obvious how much ETH developers care about their documentation & code.
most of the open source blockchain resources abstract away the nasty parts you'd have to deal with in a production application (e.g., network design, consensus), but they are definitely good starting points.
 

AceVentures

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I wanted to share something with the fam - something I think is very important to consider from a macro perspective. Especially on a red day like this that makes most want to fork their eyes out than to look at their portfolio.

Read this article in it's entirety - please do if you care about DeFi or are interested at all in the direction blockchain technology is going. It will surely give you much needed perspective to appreciate how early you still are.

Most won't read anyway so I'll highlight the premise to give you more incentive:
  • Without first understanding “why” digital assets can inflict fatal body blows on our current analogue financial system, you would never have the conviction to ride an asset down 90% in the bear market, to up 10x in the bull market
  • If you bought Bitcoin at the 2017 high of $20,000, by late 2018 you were down close to 90%.But if you held on until today, that investment is up 3x, which still beats the percentage growth of the Fed’s balance sheet
  • A peer-to-peer system that moves information from point to point without a centralised, trusted gate keeper is the goal of the whole decentralised finance movement
  • If we imagine a future where some decentralised digital coin, token, or cryptocurrency can replace a portion of the need for blind trust in a centralised trust cartel, how much upside is there left in the market right now?
When you start considering what the world is currently paying for banking and auditing services (Savings accounts, Checking accounts, loans, trust services, bookkeeping and other accounting services, etc.) you can better appreciate the threats and opportunities to ETH.

In 2020 the combined "tax" paid to these institutions was $2.68 trillion. To put that in context, that is between 2% to 3% of world GDP. That is our collective banking tax. Looking at the top accounting firms, In 2020 we paid a "tax" of $87.09 billion to these bean counters.
Any ability to reduce this tax while allowing more people and firms access to sound financial services is a net benefit to humanity

A portion of all fees spent using the trust rent-seeking gatekeepers of the traditional financial economy could in the future accrue to these decentralized networks.

If you take the median price/revenue of ETH over the past year as an approximation of forward looking price/revenue, you can begin to estimate potential ETH price based on a percentage capture of the global banking and auditing revenues.

Even if DeFi manages to capture 0.10% of the yearly revenue generated by these banks and accounting firms - you're looking at a 2x ETH price from today (again assuming median price/revenue for ETH)

If this doesn't make you bullish - maybe reading up on EIP1559 and PoS may. In any case, I wish everyone the best of luck. Oh and don't use leverage or you'll get f*cking rekt like most people did last night.

1618752292548.png
 

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Waiting for the US gov to start banning / regulating this shit, then I'll get my potato chips ready.
 

Mike Partee

(Formerly UnrealCreative)
Read Millionaire Fastlane
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Sep 20, 2016
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San Juan
Anyone part of Small Cap / Pre-ICO group discussions?

I'm looking more for DAPP projects with an emphasis of solving problems utilizing the underlying tech. Med / Long term plays...

— Don't care much for payments/currency/lending crypto projects as it's full of noise.
— Buying into underlying protocols are too technical for me to understand.
(Although to be fair, I hold a basket of coins in both categories)

Examples like Audius. Also (although these aren't small cap anymore), things like Filecoin or Helium. Projects where decentralized governance and/or processing power is favorable to centralization.

Thanks in Advance!!!
 

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