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Bitcoin and other Crypto...


Spy Bee
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1 hour ago, Gnasher said:

Muskys off again..

 

 

 

 

He's going on about renewables but he was tweeting about crypto for half a year regularly, then when El Salvador do one of the biggest things that's ever happened to bitcoin and also start work on mining it with renewable energy he doesn't say anything about crypto on his page for over a week. I don't trust him at all.

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Can't believe it seems to have moved more from a fucking Elon tweet than it did when El Salvador accepted it as a currency. Saying that though there was a good bit of government bs to deal with around that time too, with Warren waffling a load of crap and a region of China banning mining.

 

Please can more countries accept bitcoin so Elon's fucking tweets don't matter as much any more.

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20 hours ago, Red Phoenix said:

Can't believe it seems to have moved more from a fucking Elon tweet than it did when El Salvador accepted it as a currency. Saying that though there was a good bit of government bs to deal with around that time too, with Warren waffling a load of crap and a region of China banning mining.

 

Please can more countries accept bitcoin so Elon's fucking tweets don't matter as much any more.

THE NEXT EL SALVADOR? Tanzania’s president, Sami Suluhu Hassan, urged the Bank of Tanzania to prepare for wider adoption of crypto, according to reports. In a speech Sunday, she said, “My call to the central bank is that you should start working on that development,” referring to crypto.

 

Get started at nexo.io

 
TheNode_061421.png

“We see [crypto] as an opportunity and we are welcoming the investment that can come from this industry.”

 

–Jehudi Castro Sierra, adviser to Colombia's president, on CoinDesk’s “First Mover.”

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3 hours ago, Jordy Brouwer said:

Whats burn/minting?

Minting is the part of mining where new coins come into existence.

‘Burning’ is the locking away of a coin or token, into an unusable account, to reduce the amount in circulation. Long term HODLing is effectively burning, depending on supply.

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On 14/06/2021 at 03:58, TheHowieLama said:

Seems legit then.

 

The whole thing is a house of cards - as soon as (read if ever) ETH Classic gets back to 65 I am out.

Yes, but no more of a house of cards than the global fiat system. As I’ve previously posted, crypto is literally saving lives in Venezuala.

 

I keep this handy, as a reminder of what can happen anytime in the world of fiat:

 

https://larouchepub.com/hzl/2007/3431house_of_cards.html

 

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Just now, Red Shift said:

Yes, but no more of a house of cards than the global fiat system.

 

Not a chance. 

 

Do you have any traditional financial instruments - bank accounts, stocks, bonds, gold, silver etc. - that you wouldn't be surprised to wake up and find out they were worthless tomorrow?

That's ridiculous.

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1 hour ago, Red Shift said:

THE NEXT EL SALVADOR? Tanzania’s president, Sami Suluhu Hassan, urged the Bank of Tanzania to prepare for wider adoption of crypto, according to reports. In a speech Sunday, she said, “My call to the central bank is that you should start working on that development,” referring to crypto.

 

Get started at nexo.io

 
TheNode_061421.png

“We see [crypto] as an opportunity and we are welcoming the investment that can come from this industry.”

 

–Jehudi Castro Sierra, adviser to Colombia's president, on CoinDesk’s “First Mover.”

 

I've been following news on it a bit recently and there's some good signs but nothing yet on the scale of a leader outright saying that they're going to vote on accepting it. Maybe things will look better soon though.

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25 minutes ago, TheHowieLama said:

Not a chance. 

 

Do you have any traditional financial instruments - bank accounts, stocks, bonds, gold, silver etc. - that you wouldn't be surprised to wake up and find out they were worthless tomorrow?

That's ridiculous.

Northern Rock says hello.

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59 minutes ago, Red Shift said:

Minting is the part of mining where new coins come into existence.

‘Burning’ is the locking away of a coin or token, into an unusable account, to reduce the amount in circulation. Long term HODLing is effectively burning, depending on supply.

Spy Bee was talking about XHV, and the question was about that. So the above isn't relevant.

 

@Jordy Brouwer With Haven, you buy the XHV "coin" on an exchange.

From there, you create a vault in Haven. This is basically your own private bank/bureau de change.

Transfer your XHV into the vault.

You can then "burn" your XHV and "mint" xUSD. xUSD is their stablecoin that's linked to the US Dollar. So 1 xUSD will always be 1 USD.

Once you have your xUSD, you can then "burn" that and "mint" xEUR, xYuan, xSterling, xGold, etc. They even have xBitcoin!

The burning and minting process can go the other way too.

Burn xUSD and mint XHV.

Transfer XHV back to the exchange and sell.

 

It's an amazing ecosystem. A few people recently have burned millions of xUSD into hundreds of xBTC, and vice versa.

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56 minutes ago, TheHowieLama said:

Not a chance. 

 

Do you have any traditional financial instruments - bank accounts, stocks, bonds, gold, silver etc. - that you wouldn't be surprised to wake up and find out they were worthless tomorrow?

That's ridiculous.

All of the above with the exception of gold & silver.

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56 minutes ago, Lario said:

Spy Bee was talking about XHV, and the question was about that. So the above isn't relevant.

 

@Jordy Brouwer With Haven, you buy the XHV "coin" on an exchange.

From there, you create a vault in Haven. This is basically your own private bank/bureau de change.

Transfer your XHV into the vault.

You can then "burn" your XHV and "mint" xUSD. xUSD is their stablecoin that's linked to the US Dollar. So 1 xUSD will always be 1 USD.

Once you have your xUSD, you can then "burn" that and "mint" xEUR, xYuan, xSterling, xGold, etc. They even have xBitcoin!

The burning and minting process can go the other way too.

Burn xUSD and mint XHV.

Transfer XHV back to the exchange and sell.

 

It's an amazing ecosystem. A few people recently have burned millions of xUSD into hundreds of xBTC, and vice versa.

When you take your XHV and place it in your vault, you are taking it out of circulation, or ‘burning’ it, so my point is not entirely irrelevant. 

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