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Red Shift

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About Red Shift

  • Rank
    Advanced Member
  • Birthday 06/03/1958

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  • Gender
    Male
  • Location
    :- Distant Voyager
  • Interests
    The Creative Spark

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  1. Red Shift

    Bitcoin and other Crypto...

    Yes that’s an interesting lag (Haven Vault Value) and market price @Spy Bee
  2. Red Shift

    Bitcoin and other Crypto...

    Stablecoins are a safe harbour right now. I’m only holding WXT and I bought a bit of XHV to test the Haven ecosystem
  3. Red Shift

    Bitcoin and other Crypto...

    Ethereum or Cardano? You be the judge.
  4. Red Shift

    Bitcoin and other Crypto...

    Pensions in Crypto? What is it about the Swedish psyche that makes them socially progressive? https://community.wirexapp.com/t/could-we-start-tapping-into-cryptocurrency-for-pensions/22384
  5. Red Shift

    Bitcoin and other Crypto...

    The Ethereum ‘London’ upgrade - facts and myths https://www.coindesk.com/4-myths-about-ethereum-eip-1559
  6. Red Shift

    Bitcoin and other Crypto...

    Wirex is purpose ready for El Salvador. The conversion is ‘behind the scenes’ and seemless.
  7. Red Shift

    Bitcoin and other Crypto...

    The media is reporting ‘the world’s first crypto bank run’ with regards to IRON FINANCE. Let’s be clear - it wasn’t. https://www.coindesk.com/paying-iron-price-fractional-reserve-banking?utm_source=Sailthru&utm_medium=email&utm_campaign=NODE JUNE 18 2021&utm_content=B&utm_term=The Node
  8. Red Shift

    Bitcoin and other Crypto...

    This Wednesday, the congress of El Salvador, country with a population of 6.5 million people, approved 2 the Bitcoin Law 2 that ‘regulates Bitcoin as unrestricted legal tender’. More specifically, ‘Prices may be expressed in bitcoin’, ‘tax contributions can be paid in bitcoin’, and ‘every economic agent must accept bitcoin as payment’. The decree is expected to take place less than 90 days from now. The country reportedly partnered with a Chicago-based project called Strike 1. For the past year, the concept of a Bitcoin economy has been tested by Strike at El Zonte, an El Salvadorian village where a few thousand locals can use an application called Bitcoin Beach 4 for their daily expenses. It would be difficult to imagine that a highly volatile cryptocurrency can be used in our everyday life. But the benefits of a fully decentralised currency far outweigh this drawback. The Bitcoin Beach project is a showcase for adoption, for banking the unbanked, favouring capital inflow from the estimated 1.3% of the world’s population that owns Bitcoin, guaranteeing that the Bitcoins sent for aid actually land into the wallets of those in need, to the last penny. 600 bitcoin users would purchase anything from ‘bags of tortillas to haircuts’. But why not use stablecoins instead? Stablecoins are directly or indirectly centralised, whether they are backed by traditional assets or simply pegged to a traditional currency. Consensus is always more easily achieved through decentralisation. Confidence in a monetary system is more easily gained if there is no single point of failure, and in the case of El Salvador, the potential single point of failure could be the Fed, or the IMF. In response 2 to El Salvador’s Bitcoin adoption, the IMF’s spokesman Gerry Rice mentioned that the ‘adoption of bitcoin as legal tender raises a number of macroeconomic, financial and legal issues that require very careful analysis. [The IMF is] following developments closely and will continue [its] consultations with the authorities’. https://community.wirexapp.com/t/crypto-corner-summary-of-the-week-07-06-2021/23009
  9. Red Shift

    Bitcoin and other Crypto...

    Getting your ‘winnings’ back to traditional pounds dollars and euros in your bank account from an exchange can be troublesome - sometimes slow, and sometimes expensive. You’re relying on trust. This eliminates the middleman.
  10. Red Shift

    Bitcoin and other Crypto...

    https://havencard.io/how-it-works/
  11. Red Shift

    Bitcoin and other Crypto...

    It does look pretty impressive, but I’d want the debit card to be working seamlessly in the real world to be happy. Probably a good time to be setting things up and slowly shifting assets over.
  12. Red Shift

    Bitcoin and other Crypto...

    Not concerned in the slightest with Tether. It’s early days for stable coins and Tether is just one. With DeFi ecosystems complete with their own stable coins (eg Haven) and a crypto community just too aware and focused on the major reformation of global banking, Tether is a side issue of little significance. The finger being pointed at Tether (not by you Red Phoenix) Is just another panic attack on crypto from a cartel losing its power. it does once again raise the issue of stable coins being linked to inflationary fiat currencies. Short term fine, but long term can’t and won’t happen. Personally, as I’ve stated elsewhere, I’d like to see currency backed by 100% renewable electricity production (eg 1c = 1 KW Hr) to realise R. Buckminister Fuller’s dream of a stable global currency on a single interconnected electricity network for Spaceship Earth. (See his final work ‘Critical Path’ 1987) Elon Musk might be upsetting the apple cart but he’s not stupid and knows full well that linking crypto to green energy is an important development for the future.
  13. Red Shift

    Bitcoin and other Crypto...

    As far as I’m aware, ETH is a ‘hard fork’ of ETH Classic, Classic being the original. Like yourself, I understand little of these things. I was hoping your insight expand my knowledge might.
  14. Red Shift

    Greatest 00's Film - Nominations

    Thought Star Wars: Firewalk With Me was one of Kenny Lynch’s best, myself.
  15. Red Shift

    Bitcoin and other Crypto...

    Just out of interest, why your preference for ETH Classic over ETH
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