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Messages - Peter90

Pages: [1] 2 3 ... 53
1
Everybody wants to pay taxes.

Sure, I can't wait
Here in the neighbourhood every year when we finally can wire transfer the money to the tax agency people are so happy they make a huge party

2
Economics , Sociology & Politics / Re: Why do we pay taxes?
« on: May 04, 2024, 07:01:22 PM »
The US government borrows money by selling US Treasuries (federal debt).
The US government prints money.

Question:
Why does the US government need to borrow money if they print it?





12 millions klicks only from this account.
Many more considering re-tweeting.

Unbelievable







Got gold?  :D

3

Maybe they are aware of the correlation between BTC and Nasdaq,
and fear a Nasdaq crash
If you have more data about the correlation between BTC and US stocks, please provide it. Many say there is a correlation, but I do not see it.


You must admit, BTC's moves correlate with Nasdaq's moves
When one goes up the other goes up
one goes down the other goes down.
BTC is no hedge vs Nasdaq crash






... and now, comparing logarithmic BTC and Nasdaq charts, apparently it looks like this ...




4
Stable Coins Forum / Re: FDUSD volatily
« on: May 04, 2024, 01:23:29 PM »

Both US Treasury and fixed deposits are debt:
US Treasuries is debt of the US gov, Fixed deposits is debt of banks.

None of them is cash.
There is no cash backing FDUSD.
I used to think that what we could call cash is that it is short-term and highly liquid, and therefore commercial papers and treasury bills are considered cash.

I knew HB  :D
and of course you are right, according to accounting books rules, short-term + liquid = "cash"


On the other hand:
cash doesn't bear a yield because cash is risk-free.
So where there is yield, that's not cash.

Debt bears yield because of the counterparty risk.
Debt is different from cash.
If you lend 100 yuan to Peter with the agreement that he pays you 5%/year interest and you can ask them back anytime, are those 100 yuan cash to you?
I don't think so  :D


It's a definition issue, we are both right.



My point is this: many people believe that these $-backed stablecoins are: 1 coin --> 1$ in the bank
So when you say FD$ is backed by cash, many will understand: buy 1 FDUSD = buy 1$
Imo people should know that when they buy FDUSD they are buying US federal debt + US banks debt

5
if we are in this kind of situation where the electricity is still on like its normal situation still and internet is accessible, wouldn't it make sense for the warlords to accept BTC and other crypto?

How many businesses accept BTC in your city?
Where I live, basically none.
Zero.

I opened a thread about this fact
What Happened To Bitcoin?
BTC as a currency has been a complete failure.


So why should people during a civil war accept a currency they can't use in order to buy goods and services?
During a war you aren't interested in increasing your wealth. When food and shelter can anytime become a problem you are not interested in making money.
When your life is at stake you don't care about investing strategies.


There are many warlike situations going on in the world: clashes between ethnic groups... between religious or political factions... civil unrests... state vs. criminals (e.g. narcos)...
Wouldn't it make sense for the warlords to accept BTC and other crypto?
No because in those situations you need a currency which everybody accepts.
This applies to warlords too.
That's why the current usage of BTC and cryptos in those situations is basically zero.

6
Bitcoin Forum / Re: Bitcoin Spot ETF Tracker
« on: May 03, 2024, 09:39:09 PM »
Bitcoin ETFs Suffer Worst Day Ever





This means the total net inflow since inception has fallen to USD11.2bn.




zerohedge.com

7
Economics , Sociology & Politics / Re: Why do we pay taxes?
« on: May 03, 2024, 09:29:29 PM »
At first taxation system was introduced with the purpose of doing good for the people who are poorer by collecting the money from the people who have money that can't be spent in their entire life time.

At first taxation system was introduced within the Gold Standard, when governments couldn't produce money at will.
Today governments produce money at will so there is no point for taxation.
President Nayib is right.




Taxation is the same as gov selling bonds to the people in order to borrow money:
Why does the government need to borrow money from the people if they (gov) can create it (money) themselves?


They asked this question to the Chairman of the Council of Economic Advisors of the President of the USA.
He couldn't answer.
The video is going viral on X, and is so embarrassing ...




8
USDT Forum / Re: USDT is The Most Stable Coin?
« on: May 01, 2024, 01:10:47 PM »
USDT Tether is estimated to generate $6.2 billion in net income in 2023.

Impressive

How do they generate that income?
What are their sources of revenue?

Transaction fees?
No because AFAIK they don't manage their own network.

So how do they make money?

9



Tether CEO giving up on reaching regulated status?
Next time a forum user asks where to put safely her savings, please don't mention USDT.
USDT is good for traders, not for savers

10
Gold in USD (yellow)
Gold in fiat currencies basket (blue)





That's why they call it Store of Value

11
Bitcoin Forum / Re: What Happened To Bitcoin?
« on: May 01, 2024, 12:28:18 AM »
What a coincidence



12
I can understand the motives for staking when the market is falling or there are no indicators that Bitcoin may increase, but I see an increasing interest in staking stablecoin, as with a quick search on social media or asking some of my trader friends, I was surprised that some of them are staking large amounts while the market is rising and can earns more by buying Bitcoin.

Maybe they are aware of the correlation between BTC and Nasdaq,
and fear a Nasdaq crash






13
Stable Coins Forum / Re: FDUSD volatily
« on: April 29, 2024, 11:10:50 AM »
without focusing on assets that may increase in value but are difficult to liquidize

Hi HB

This has nothing to do with liquidity.
Assets that can increase in value are also assets that can decrease in value.
They are not-stable assets.
Backing a currency whose value should be stable (stable-coin) with assets whose value is not stable doesn't make sense.




what caught my attention is that their assets are distributed between cash and US Treasury bonds, without focusing on assets that may increase in value but are difficult to liquidize, such as debts and real estate.

Both US Treasury and fixed deposits are debt:
US Treasuries is debt of the US gov, Fixed deposits is debt of banks.

None of them is cash.
There is no cash backing FDUSD.

14
But I disagree and said stablecoins, doesn't mean any that exists now, he could make USDX and just put that out, which could actually get a huge attention too. I believe something more stable is important for a company that size.

"Stablecoins are demonstrating their prowess as payment tools."
Marcel Kasumovich, Deputy CIO of Coinbase Asset Management
zerohedge.com

There is a reason why Stripe and PayPal (both represent 62% share of online payment software processing...) are integrating stablecoins instead of other cryptos into their platform.

It will be a stablecoin

15
Stable Coins Forum / Re: The 6 Types of Stablecoins (Poll)
« on: April 29, 2024, 09:57:04 AM »
Stablecoin Volumes Are Tracking A Record $15 Trillion On Ethereum Alone

Stablecoins are demonstrating their prowess as payment tools.
Transaction volumes are tracking new highs this month, running at ~$15 trillion annualized on Ethereum alone.
The efficiency gain is clear – instant and final settlements mean that your late-night coffee and donut purchases bypass the need for credit intermediaries.

zerohedge.com





Stablecoins' volume is increasing not because people invest in them but because they get adopted as the most efficient means of payment

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