(Topic ID: 287467)

Cryptocurrency, Bitcoin, and Decentralized Finance (DeFi)

By Isochronic_Frost

3 years ago


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#2301 2 years ago

Better buckle up it looks like it’s gunna be a bumpy ride tonight!

Edit: Sure would love to grab some ADA at the $1.15 +- level

#2302 2 years ago
Quoted from Concretehardt:

Better buckle up it looks like it’s gunna be a bumpy ride tonight!
Edit: Sure would love to grab some ADA at the $1.15 +- level

I would too! But I’m not too confident we’ll hit that low tonight. We’ll see where the week takes us though.

#2303 2 years ago
Quoted from Concretehardt:

Better buckle up it looks like it’s gunna be a bumpy ride tonight!
Edit: Sure would love to grab some ADA at the $1.15 +- level

Come on everyone! It’s fuuuun!

B7C8218E-1005-4582-B415-B81C20526373.gifB7C8218E-1005-4582-B415-B81C20526373.gif
#2304 2 years ago
Quoted from Concretehardt:

Better buckle up it looks like it’s gunna be a bumpy ride tonight!
Edit: Sure would love to grab some ADA at the $1.15 +- level

I was also hoping it would go lower. But I've wanted more for a while so picked some up at $1.50.
Also picked up some more BTC, ETH, DOT, and XLM.
Now just to ignore the market for a while

#2305 2 years ago
Quoted from Astropin:

I'm thinking those shorts are going to get crushed. A lot of positive Bitcoin news hitting right now.

So far These last 24 hrs sure seem to be in their favour …

#2306 2 years ago

Looks like the exchange gave it up.

The news that the FBI had recovered Bitcoin sent fear in the markets, with some believing that the service could hack the Bitcoin network. In fact, the FBI agents managed to use a block explorer to track the transactions and figure out the public address where the ransomed Bitcoin was stored. The FBI then used a warrant to claim the 63.7 BTC in that address to the exchange or custodian storing the Bitcoin.

The on-chain Bitcoin address linked to the Colonial Pipeline ransom wasn’t hacked. Once the FBI figured out the public key by analyzing on-chain data, it linked that public key to a certain custodian. The custodian for the address was asked to share the private key. As the popular crypto saying goes: “not your keys, not your Bitcoin.”

#2307 2 years ago
Quoted from Spyderturbo007:

Looks like the exchange gave it up.
The news that the FBI had recovered Bitcoin sent fear in the markets, with some believing that the service could hack the Bitcoin network. In fact, the FBI agents managed to use a block explorer to track the transactions and figure out the public address where the ransomed Bitcoin was stored. The FBI then used a warrant to claim the 63.7 BTC in that address to the exchange or custodian storing the Bitcoin.
The on-chain Bitcoin address linked to the Colonial Pipeline ransom wasn’t hacked. Once the FBI figured out the public key by analyzing on-chain data, it linked that public key to a certain custodian. The custodian for the address was asked to share the private key. As the popular crypto saying goes: “not your keys, not your Bitcoin.”

So, thru all that basically it means, that while they may not be able to track it back to an individual, they can certainly trace it, and take it if they have enough warrants and smarts. I'm assuming some of what you are saying is trying to put a positive spin on it to make this not seem bad, but this doesn't bode well for the 'anonymous can't be tracked' take that so many hype. What I am not clear on is, I assume this wallet was online for this to be able to happen? You would have thought they would have moved this to an offline wallet fast....or would it have even mattered once they put it back online to use it? Can they live monitor for active blocks like they can monitor IP's on torrents?

#2308 2 years ago
Quoted from Spyderturbo007:

Looks like the exchange gave it up.
The news that the FBI had recovered Bitcoin sent fear in the markets, with some believing that the service could hack the Bitcoin network. In fact, the FBI agents managed to use a block explorer to track the transactions and figure out the public address where the ransomed Bitcoin was stored. The FBI then used a warrant to claim the 63.7 BTC in that address to the exchange or custodian storing the Bitcoin.
The on-chain Bitcoin address linked to the Colonial Pipeline ransom wasn’t hacked. Once the FBI figured out the public key by analyzing on-chain data, it linked that public key to a certain custodian. The custodian for the address was asked to share the private key. As the popular crypto saying goes: “not your keys, not your Bitcoin.”

That's the part that I feel is fishy/odd. The "cybercriminals" were smart enough to blackmail for that much in bitcoin, but were not smart enough to put it into an unknown cold storage wallet? Come on. And the fact that so many reports stated that the FBI hacked the bitcoin wallet. That line isn't true and is just to drive fear into people. Maybe I have my tinfoil hat on too tight, but this all seems a bit off to me hahaha.

#2309 2 years ago
Quoted from sixtyfourbits:

That's the part that I feel is fishy/odd. The "cybercriminals" were smart enough to blackmail for that much in bitcoin, but were not smart enough to put it into an unknown cold storage wallet? Come on. And the fact that so many reports stated that the FBI hacked the bitcoin wallet. That line isn't true and is just to drive fear into people. Maybe I have my tinfoil hat on too tight, but this all seems a bit off to me hahaha.

You're overthinking it. It's digital, regardless how 'safe' you think digital is, there's almost always a way in. Just takes the right people, time, and money. These exchanges are making money, do you really think if pressured they aren't going to cave? Hell, people should feel really lucky those exchanges don't just take the money and run.

I personally think it was rather quick, but I highly doubt there is some conspiracy out of this to make people think it has anything to do with spreading FUD about crypto. If anything at all, possibly a ruse to get the group to speak up with 'no they didn't' to try to flush them out.

#2310 2 years ago

Haven’t hit a lower low yet for btc. So that’s okay but damn if it isn’t flirting with danger.

#2311 2 years ago
Quoted from Zablon:

You're overthinking it. It's digital, regardless how 'safe' you think digital is, there's almost always a way in. Just takes the right people, time, and money. These exchanges are making money, do you really think if pressured they aren't going to cave? Hell, people should feel really lucky those exchanges don't just take the money and run.
I personally think it was rather quick, but I highly doubt there is some conspiracy out of this to make people think it has anything to do with spreading FUD about crypto. If anything at all, possibly a ruse to get the group to speak up with 'no they didn't' to try to flush them out.

I realize that the tech is over my head, so I could easily be missing something. I just feel that right after the bitcoin was transferred to them, they could've taken 5 minutes to take it off the exchange onto a cold storage device, and they would've been home free. There is no real valid reason to have left it on the exchange. It was the exchange that gave them up, not the blockchain.
Regardless, I'm not rooting for criminal activity here, so if they were indeed legit criminals and got caught, that's awesome.

#2312 2 years ago
Quoted from sixtyfourbits:

I realize that the tech is over my head, so I could easily be missing something. I just feel that right after the bitcoin was transferred to them, they could've taken 5 minutes to take it off the exchange onto a cold storage device, and they would've been home free. There is no real valid reason to have left it on the exchange. It was the exchange that gave them up, not the blockchain.
Regardless, I'm not rooting for criminal activity here, so if they were indeed legit criminals and got caught, that's awesome.

I agree....but maybe they believed the hype just a bit too much....hard to say.

#2313 2 years ago
Quoted from Zablon:

I agree....but maybe they believed the hype just a bit too much....hard to say.

There is no way Russian hackers thought "we will just keep our stolen Bitcoin on an exchange". .. Hard to believe.

Quoted from Pdxmonkey:

Haven’t hit a lower low yet for btc. So that’s okay but damn if it isn’t flirting with danger.

Minors sold 5000 Bitcoin overnight. Probably Chinese that are being forced to move.

#2314 2 years ago

What's everyone feeling today? Buy today or wait and see what the week brings?

#2315 2 years ago
Quoted from sixtyfourbits:

What's everyone feeling today? Buy today or wait and see what the week brings?

Nobody knows.

I keep buying small chunks of BTC; some higher some lower. I'm still way down from my investment but I have been able to average the cost from 64k to 44k this way. Still far from today's 32k though.

#2316 2 years ago

My feeling says hold on a bit longer before buying but I’ve been wrong before , sentiment seems bearish , I know I am

#2317 2 years ago

When infrastructure is getting crippled by hackers left and right, and their incentive is getting paid in crypto, what's a government to do to address the problem?

#2318 2 years ago

I say this is the end of the bull run and the bear market is now. Lower highs and lower lows. Regulatory fear, mining bans and moving averages that just keep falling.

Most analysts predict BTC testing and breaking through the $30k support and falling as low as the projected $19k floor.

Death cross imminent which according to Cointelegraph has always spelling the end of the bull market and the start of the bear market.

“ As Cointelegraph reported, traders are already on edge over a potential “death cross” involving two key moving averages that could spell further downside.

This could extend beyond the short term, Cane Island Alternative Advisors investment manager Timothy Peterson noted, thanks to BTC/USD now lingering below its 200-day moving average for almost three weeks.

“This metric has *always* marked the end of a bull run and the start of a bear market,” he added in comments on Monday.

I think we are done making money for awhile. All of my 2021 gains (that I didn’t dispose of a few weeks ago) have been wiped out. BTC Price has dropped back to where it was in December when the bull run started.

Things don’t look good at all. From what I keep reading there are no positive metrics regarding the crytpto space.

I want to be wrong but things don’t look good.

#2319 2 years ago

You selling?

#2320 2 years ago
Quoted from Spyderturbo007:

I say this is the end of the bull run and the bear market is now. Lower highs and lower lows. Regulatory fear, mining bans and moving averages that just keep falling.
Most analysts predict BTC testing and breaking through the $30k support and falling as low as the projected $19k floor.
Death cross imminent which according to Cointelegraph has always spelling the end of the bull market and the start of the bear market.
“ As Cointelegraph reported, traders are already on edge over a potential “death cross” involving two key moving averages that could spell further downside.
This could extend beyond the short term, Cane Island Alternative Advisors investment manager Timothy Peterson noted, thanks to BTC/USD now lingering below its 200-day moving average for almost three weeks.
“This metric has *always* marked the end of a bull run and the start of a bear market,” he added in comments on Monday.
I think we are done making money for awhile. All of my 2021 gains (that I didn’t dispose of a few weeks ago) have been wiped out. BTC Price has dropped back to where it was in December when the bull run started.
Things don’t look good at all. From what I keep reading there are no positive metrics regarding the crytpto space.
I want to be wrong but things don’t look good.

How convinced are you?

#2321 2 years ago
Quoted from Astropin:

How convinced are you?

My cash wager still stands.

#2322 2 years ago
Quoted from Astropin:

How convinced are you?

You mean it well but that won’t help his state of mind ..

Looking from the other side of the fence , it’s a lot of “ you’re with us , or against us “ mentality in bitcoin discussions
Everyone needs help at times , even to just say maybe its time to pull back . Instead of the continuous “hodl “ on

#2323 2 years ago

I’m seriously considering it actually and I’m one of the people that HODLed through the last crypto winter if that says anything.

Quoted from Astropin:

How convinced are you?

I can’t take a bet with an upside that’s capped for me and unlimited for you. I’m not that dumb.

#2324 2 years ago
Quoted from Spyderturbo007:

I’m seriously considering it actually and I’m one of the people that HODLed through the last crypto winter if that says anything.

I can’t take a bet with an upside that’s capped for me and unlimited for you. I’m not that dumb.

? 0.5 Bitcoin is 0.5 Bitcoin. If if you really think it's not going to 100k this year...which, even I think is getting questionable...

We stay this low much longer and I'll be cancelling that offer.

Quoted from DBLM:

My cash wager still stands.

Easier for me to deal in BTC instead of cash for something like this. It's a bet about BTC, in BTC.

#2325 2 years ago
Quoted from Spyderturbo007:

I say this is the end of the bull run and the bear market is now. Lower highs and lower lows. Regulatory fear, mining bans and moving averages that just keep falling.
Most analysts predict BTC testing and breaking through the $30k support and falling as low as the projected $19k floor.
Death cross imminent which according to Cointelegraph has always spelling the end of the bull market and the start of the bear market.
“ As Cointelegraph reported, traders are already on edge over a potential “death cross” involving two key moving averages that could spell further downside.
This could extend beyond the short term, Cane Island Alternative Advisors investment manager Timothy Peterson noted, thanks to BTC/USD now lingering below its 200-day moving average for almost three weeks.
“This metric has *always* marked the end of a bull run and the start of a bear market,” he added in comments on Monday.
I think we are done making money for awhile. All of my 2021 gains (that I didn’t dispose of a few weeks ago) have been wiped out. BTC Price has dropped back to where it was in December when the bull run started.
Things don’t look good at all. From what I keep reading there are no positive metrics regarding the crytpto space.
I want to be wrong but things don’t look good.

would love for it to hit $19k so I can load up
bought some more today at $31ish

not concerned about short term value at all, get back to me in 5 years

#2326 2 years ago
Quoted from Astropin:

? 0.5 Bitcoin is 0.5 Bitcoin. If if you really think it's not going to 100k this year...which, even I think is getting questionable...
We stay this low much longer and I'll be cancelling that offer.

Easier for me to deal in BTC instead of cash for something like this. It's a bet about BTC, in BTC.

Both Spyder and I have been saying the way that you have the bet structured is a sucker bet. Why would I want to get paid in BTC if it is on the way down? For me to profit the most, it has to lose its intrinsic value. This puts a limit on what I can win. But theoretically, there is no upper limit to what you could win.

Kudos to you for coming up with a slick bet or stealing it from somebody but this is ridiculous. But if you ever want to convert to old boring fiat we can talk.

#2327 2 years ago
Quoted from BMore-Pinball:

not concerned about short term value at all, get back to me in 5 years

always the best way to invest imho, regardless of asset

#2328 2 years ago
Quoted from DBLM:

Both Spyder and I have been saying the way that you have the bet structured is a sucker bet. Why would I want to get paid in BTC if it is on the way down? For me to profit the most, it has to lose its intrinsic value. This puts a limit on what I can win. But theoretically, there is no upper limit to what you could win.
Kudos to you for coming up with a slick bet or stealing it from somebody but this is ridiculous. But if you ever want to convert to old boring fiat we can talk.

Okay, how about a fiat valued bet...made in BTC? For example; our bet is for $2500 US. Same parameters I set up originally except in this case its a flat USD value paid in BTC on Jan 1st 2022?

#2329 2 years ago

If I was to sell now, it would be with the idea that I will be using it all to buy back in again in a few months at a much lower price. So its not so much whether that money will be in crypto, its more so do I want to bet on the market dropping so I can increase the amount of Ada I'm holding without spending more money. I'm not sure that's a bet I want to make yet. I'm not really confident in the market going either way, so I may just sit back and hold and stake and hope for the best.

#2330 2 years ago
Quoted from Astropin:

Okay, how about a fiat valued bet...made in BTC? For example; our bet is for $2500 US. Same parameters I set up originally except in this case its a flat USD value paid in BTC on Jan 1st 2022?

No no no! My winning potential is minuscule while you potentially have unlimited upside. That is the point that you are ignoring.

How about this: 5K paid however the winner likes that BTC is 100K on 12/31? It is purely binary. If on that date it is 100K, you get 5K payable however you like. If it is not 100K, I get paid however I like.

#2331 2 years ago

https://finance.yahoo.com/news/kevin-o-leary-explains-why-bitcoin-will-beat-stocks-now-175634166.html

Not the biggest fan of his but I do agree with a lot of his points.

#2332 2 years ago
Quoted from DBLM:

No no no! My winning potential is minuscule while you potentially have unlimited upside. That is the point that you are ignoring.
How about this: 5K paid however the winner likes that BTC is 100K on 12/31? It is purely binary. If on that date it is 100K, you get 5K payable however you like. If it is not 100K, I get paid however I like.

It think you are confused by my offer. The payout is valued at $2500 USD REGARDLESS of BTC's value on Jan 1st. What I'm not going to do is specify the exact date BTC has to be valued at 100k. My upside is the same as yours...$2500 USD...just paid out in BTC. The entire point of my bet is that BTC will hit 100k at some point in 2021. If you truly think it won't, then you should take the bet.

#2333 2 years ago
Quoted from DBLM:

No no no! My winning potential is minuscule while you potentially have unlimited upside. That is the point that you are ignoring. How about this: 5K paid however the winner likes that BTC is 100K on 12/31? It is purely binary. If on that date it is 100K, you get 5K payable however you like. If it is not 100K, I get paid however I like.

His original bet seemed pretty one-sided. But the revised offer seems legit to me -- he's offering a straight $2500 USD bet that Bitcoin hits $100k at some point before 1/1/22. He wants the payout to be in Bitcoin, but it will still be $2500 USD worth of Bitcoin at an agreed-upon exchange rate at the time of payment. So if you win, you get $2500 USD worth of Bitcoin (which you can just exchange to USD if you don't want the Bitcoin). If you lose but don't have the Bitcoin, you can just buy $2500 USD worth and transfer it to him then. Either way, winner gets $2500 USD, loser loses $2500 USD.

It sounds like you also want a much more specific bet than he's interested in (guess the USD value of Bitcoin on a specific date, vs. guess whether it will hit a certain USD value any time in the next six months). But it doesn't seem like either of those bets is inherently biased toward one party the way the original deal was, they're just very different bets.

#2334 2 years ago
Quoted from Astropin:

It think you are confused by my offer. The payout is valued at $2500 USD REGARDLESS of BTC's value on Jan 1st. What I'm not going to do is specify the exact date BTC has to be valued at 100k. My upside is the same as yours...$2500 USD...just paid out in BTC. The entire point of my bet is that BTC will hit 100k at some point in 2021. If you truly think it won't, then you should take the bet.

Oh, I was not confused at all. I was recasting the bet as I saw fit based upon your ridiculous first bet.

Here is my counteroffer: 5K USD bet paid in whatever manner the winner specifies that BTC will not pass and stay above 100K USD for 72 consecutive hours prior to 11:59 and 59 seconds December 31st, 2021 EST. Loser of the bet has to do whatever payment conversions that the winner asks for. This bet prevents flukes and proves out the staying power of BTC.

#2335 2 years ago
Quoted from DBLM:

Oh, I was not confused at all. I was recasting the bet as I saw fit based upon your ridiculous first bet.
Here is my counteroffer: 5K USD bet paid in whatever manner the winner specifies that BTC will not pass and stay above 100K USD for 72 consecutive hours prior to 11:59 and 59 seconds December 31st, 2021 EST. Loser of the bet has to do whatever payment conversions that the winner asks for. This bet prevents flukes and proves out the staying power of BTC.

You're also going to want to specify an exchange or oracle for pricing data.

#2336 2 years ago
Quoted from Spyderturbo007:

You're also going to want to specify an exchange or oracle for pricing data.

That is a good point. I will defer to Astropin on that. I have looked at online escrow services like escrow.com so we would put our assets in those at the beginning of the bet. Since none of us know each other that would make the most sense. Since I am insisting on the escrow, I will even pay the escrow fee, which appears to be $173 for the 10K of assets.

#2337 2 years ago
Quoted from DBLM:

That is a good point. I will defer to Astropin on that. I have looked at online escrow services like escrow.com so we would put our assets in those at the beginning of the bet. Since none of us know each other that would make the most sense. Since I am insisting on the escrow, I will even pay the escrow fee, which appears to be $173 for the 10K of assets.

I appreciate your efforts but the parameters just keep building up...72 consecutive hours....escrow (I actually have no issue with the escrow, but do they safely hold crypto assets?) I want to bet and deal in BTC. We can deal with USD values but I want to transact in Bitcoin. I wanted to keep it simple...Will BTC hit 100k or not? The 72 hours could be a tuff nut because we all know BTC is volatile and I expect the 100k barrier to be extremely volatile...that's definitely a psychological barrier, and we've seen what those barriers have done in the past. A lot of "profit taking" will happen right at that level. I thought my last offer was a fair one....dealing in a fixed USD value for the actual payout. But if we can't get there, that's fine with me also. It be fun to see what happens regardless.

#2338 2 years ago
Quoted from Astropin:

I appreciate your efforts but the parameters just keep building up...72 consecutive hours....escrow (I actually have no issue with the escrow, but do they safely hold crypto assets?) I want to bet and deal in BTC. We can deal with USD values but I want to transact in Bitcoin. I wanted to keep it simple...Will BTC hit 100k or not? The 72 hours could be a tuff nut because we all know BTC is volatile and I expect the 100k barrier to be extremely volatile...that's definitely a psychological barrier, and we've seen what those barriers have done in the past. A lot of "profit taking" will happen right at that level. I thought my last offer was a fair one....dealing in a fixed USD value for the actual payout. But if we can't get there, that's fine with me also. It be fun to see what happens regardless.

We just can’t get there from here. Like you said, we will have to see what happens.

#2339 2 years ago
Quoted from sixtyfourbits:

If I was to sell now, it would be with the idea that I will be using it all to buy back in again in a few months at a much lower price. So its not so much whether that money will be in crypto, its more so do I want to bet on the market dropping so I can increase the amount of Ada I'm holding without spending more money. I'm not sure that's a bet I want to make yet. I'm not really confident in the market going either way, so I may just sit back and hold and stake and hope for the best.

So... I am on the ADA train, but saw the recent news regarding the recent raised funding from Solana. Given Solana is being coined as "Ethereum Killer" I wonder how they might perform in the space with ADA. I have not done my research yet on Solana, but seems promising from some.

What is your take? I'm just waiting for a little more dip to continue to lower my cost average on ADA. To me that seems to be what will happen in the market.

#2340 2 years ago
Quoted from zermeno68:

So... I am on the ADA train, but saw the recent news regarding the recent raised funding from Solana. Given Solana is being coined as "Ethereum Killer" I wonder how they might perform in the space with ADA. I have not done my research yet on Solana, but seems promising from some.
What is your take? I'm just waiting for a little more dip to continue to lower my cost average on ADA. To me that seems to be what will happen in the market.

I’ll be honest, I know of solana, but haven’t dived too deep. It shares a lot in common with Ada, so from what I’ve seen, I like.
I’m not a big fan of coins that label themselves ethereum killers, which might sound odd coming from an Ada fan lol. Though to be fair I believe others gave cardano that moniker, not cardano itself. I feel the future is big enough for a few of these blockchain to coexist together, definitely including ethereum. It’s not going to be only one wins and exists. Ethereum is not going anywhere, it has the first mover advantage and is a juggernaut. But others will coexist with it, and some (like Ada in my opinion) will take a decent share of the market.
What I like about cardano (besides the staking) is that they are rolling the erc20 converter out with their smart contracts. I feel that if any blockchains are going to have a chance at stealing business partners away from ethereum, they need to be able to make the transition as effortless and easy as possible. Maybe solana is working on something similar though.
Another reason I haven’t boughten into solana is simply it’s not in the exchange I use. Might seem silly, but I haven’t found a crypto I like enough that’s not on the exchange I buy from that’s made me sign up for a second exchange. I really wouldn’t mind some agi, but I’ll wait for the a month or two until it’s on the cardano blockchain and is agix, and hopefully buy some then.

#2341 2 years ago

Into law in El Salvador.
Passed 62-0
5D5ACDCB-5D0F-4C3B-8AB0-2AC5761C9BBA (resized).png5D5ACDCB-5D0F-4C3B-8AB0-2AC5761C9BBA (resized).png

#2342 2 years ago

I was listening to the President of El Salvador speak live on Twitter in a Bitcoin group as this was going to a vote. He was chatting away for 40 minutes and being asked a million questions. It was kind of surreal. Chat group stareded out with a few hundred Bitcoiners, and by the time the President was talking there were over 22 thousand people in the group.

#2343 2 years ago
Quoted from Astropin:

I was listening to the President of El Salvador speak live on Twitter in a Bitcoin group as this was going to a vote. He was chatting away for 40 minutes and being asked a million questions. It was kind of surreal. Chat group stareded out with a few hundred Bitcoiners, and by the time the President was talking there were over 22 thousand people in the group.

About 1,500 ppl on Clubhouse listened too. What a milestone for crypto, should be a wake up call to the FED but they likely couldn’t hear it over the BRRR…
Interesting times for sure, China is going to start pushing their digital currency not only in China but in Africa too. US digital currency isn’t ready and even if it was who would be excited about it?
The irony of it being El Salvador first isn’t lost either, how many more countries adapt this year? Paraguay, Panama, Mexico and Brazil seem likely, the biggest barriers will be getting everyone a smart phone education and setting up lightning nodes.

#2344 2 years ago
Quoted from Astropin:

I'm willing to bet the bull market is not over...any takers?
The bet would be made in BTC.
I'll bet we still hit at least 100k...this year.
Bet size 0.1 BTC. (Just for total clarity .1 BTC would be = to $10,000 usd if it is at 100k).
Actual bet payout would be made on January 1st 2022.
That means if the price on that date is 200k, the payout would be = to 20k. If the price is 55k then the payout (assuming Bitcoin hit 100k earlier in the year) would be = to 5.5k.
If it never hits 100k you win, and I pay you 0.1 BTC on January 1st.

So how would you like to do this? In a escrow account? I say we have a third party each hold our .1 and then pay out the .2 to winner?

#2345 2 years ago

Is escrow really needed? Can't one just keep his word?

#2346 2 years ago
Quoted from Pdxmonkey:

The irony of it being El Salvador first isn’t lost either, how many more countries adapt this year? Paraguay, Panama, Mexico and Brazil seem likely, the biggest barriers will be getting everyone a smart phone education and setting up lightning nodes.

I found it interesting from the article you posted earlier, that 1/4 of El Salvador's population lives in the United States which means they will be buying Bitcoin here in the US also. And I agree with your ripple effect theory to other countries.

""The U.S. dollar is El Salvador's official currency. About one quarter of El Salvador's citizens live in the United States and last year, despite the pandemic, they sent home more than $6 billion in remittances"".

#2347 2 years ago
Quoted from Mr68:

I found it interesting from the article you posted earlier, that 1/4 of El Salvador's population lives in the United States which means they will be buying Bitcoin here in the US also. And I agree with your ripple effect theory to other countries.
""The U.S. dollar is El Salvador's official currency. About one quarter of El Salvador's citizens live in the United States and last year, despite the pandemic, they sent home more than $6 billion in remittances"".

Well, now Bitcoin and the US dollar are El Salvador's official currencies. Once this new law takes effect, if you walk into a McDonald's in El Salvador and want to buy a small fries with Bitcoin...they must accept that payment.

#2348 2 years ago
Quoted from Astropin:

Well, now Bitcoin and the US dollar are El Salvador's official currencies. Once this new law takes effect, if you walk into a McDonald's in El Salvador and want to buy a small fries with Bitcoin...they must accept that payment.

What's even funnier, is if you want to buy a Tesla with Bitcoin in El Salvador, they must accept.

#2349 2 years ago
Quoted from Astropin:

Well, now Bitcoin and the US dollar are El Salvador's official currencies. Once this new law takes effect, if you walk into a McDonald's in El Salvador and want to buy a small fries with Bitcoin...they must accept that payment.

I think I'll order it with DoorDash instead.

#2350 2 years ago
Quoted from JohnTTwo:

So how would you like to do this? In a escrow account? I say we have a third party each hold our .1 and then pay out the .2 to winner?

Here's an option: Bitrated

Bitrated isn’t an escrow service, it’s a multisig wallet which means it requires a certain amount of signatures in order to transfer funds from it. For example, the wallet can be shared by 3 people and when any 2 out of the 3 decide to send the money, the order is executed. Bitrated is basically a platform which introduces buyers and sellers with arbitrators. It then creates a multisig wallet shared by all three parties, that requires only two signatures to release the funds. If both the seller and buyer agree that the transaction is complete, the arbitrator isn’t needed. If the seller or the buyer believes a dispute resolution needs to be made, then the arbitrator’s job is to decide where to send the money.

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