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Post by Resident Knievel on Jul 23, 2023 10:55:06 GMT
The US has caught up to the rest of the world and allows instant payments through banks as of 3 days ago. Probably the only legitimate (and very weak) argument for crypto is gone now.
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Post by lukasz on Aug 7, 2023 5:04:34 GMT
Nice. In Australia we got the payid some time ago. Which allows instant sending of less than 1k aud per day to any account just by knowing email or phone number (depending on how the owner set up payid)
It's free and super easy to use (but scamers tried to confuse people and scam)
Crypto still has advantages over border transit but it only took 24-36h last time for me to send money overseas.
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nazo
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Post by nazo on Aug 7, 2023 8:27:58 GMT
I use Wise to send money overseas and it usually arrives in less than an hour.
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Post by Jambowayoh on Aug 7, 2023 9:07:57 GMT
I use Wise to send money overseas and it usually arrives in less than an hour. Me too, usually take about 30secs. Longest I've waited is 30 minutes. I don't see any reason as to why you would use crypto.
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Post by RumMonkey on Aug 7, 2023 9:09:35 GMT
To buy weed online.
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Post by Zomoniac on Aug 10, 2023 21:36:10 GMT
Nice. In Australia we got the payid some time ago. Which allows instant sending of less than 1k aud per day to any account just by knowing email or phone number (depending on how the owner set up payid) It's free and super easy to use (but scamers tried to confuse people and scam) Crypto still has advantages over border transit but it only took 24-36h last time for me to send money overseas. We had something similar called Paym, which I think has recently been killed off. User brokenkey was part of the rollout in some way I think. Seemed to work well, not sure why it died. Can only assume it’s because the people that would use it all have Starling or Monzo accounts which have that functionality built in.
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Bongo Heracles
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Post by Bongo Heracles on Aug 10, 2023 22:24:38 GMT
Nobody used it, basically. Before it got shut down stats showed 90 something % of registered users had access to faster payments through their banking app anyway, which was also the primary reason they stopped using paym.
It was good when it came out but 9 years later it was basically irrelevant.
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Post by Resident Knievel on Aug 17, 2023 21:52:59 GMT
Bitcoin dumping 20% in the space of a few minutes
hopefully it's not a sign that financial markets are about to shit the bed
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Post by Trowel 🏴 on Aug 17, 2023 22:21:01 GMT
Bitcoin dumping 20% in the space of a few minutes hopefully it's not a sign that financial markets are about to shit the bed Seems to be tied to the WSJ reporting on SpaceX and how they've dumped all their Bitcoin over the last year or so. A clear buying signal, right?
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Post by Resident Knievel on Aug 17, 2023 22:31:36 GMT
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X201
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Post by X201 on Sept 8, 2023 14:47:52 GMT
Will probably devalue to 6 months community service before you know it. A Turkish cryptocurrency boss and his two siblings have been jailed for 11,196 years each for defrauding investors of millions of dollars. www.bbc.co.uk/news/world-europe-66752785
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cubby
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Post by cubby on Sept 8, 2023 16:40:00 GMT
Hah, jokes on them, the world ain't gonna be round that long.
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nazo
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Post by nazo on Sept 8, 2023 18:13:14 GMT
The world’s never been round, it’s all a deep-state con.
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dmukgr
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Post by dmukgr on Sept 8, 2023 19:16:27 GMT
The world’s never been round, it’s all a deep-state con. Very true. If would roll off the turtles back if it was.
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Post by Trowel 🏴 on Sept 21, 2023 10:55:15 GMT
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Post by dfunked on Sept 21, 2023 10:56:19 GMT
I don't think anybody needed a report to work that out in fairness.
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Post by Honk If You're Horny? on Sept 21, 2023 11:32:44 GMT
What is interesting is that NFT's were validated by large corporations like Adidas, Samsung, McDonalds, EBay, McDonalds. The biggest celebrities in the world and advocated by "Tech Wizards".
The reality is like crypto it had a small amount of genuine technical innovation (i.e. minted on blockchain) but much like crypto the actual product was awash with technobabble and pseudoscience, terminology that sounded complicated and legitimate when part of some long winded treatise posted to twitter or youtube but was just astrology.
They relied on the hubris of people and organisations being unable to admit they had no fucking idea what they were actually producing or buying, that they don't know the first thing about databases, digital transactions or anything else.
I fucking loathe the shit that gets pushed out about crypto. Fucking Fibonacci retracement? Get fucked.
I hate it because it's designed to make people poorer and the rich richer. The exact opposite of one of it's bullshit core tenets.
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Bongo Heracles
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Post by Bongo Heracles on Sept 21, 2023 12:50:50 GMT
Its crazy to think even just a year ago companies were investing huge sums and even pivoting their companies in that direction.
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dogbot
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Post by dogbot on Sept 21, 2023 12:56:24 GMT
Pushed into the weeds by this years thing, generative text AI language regurgitators.
But it was going to save the world!
Next.
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cubby
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Post by cubby on Sept 21, 2023 12:58:11 GMT
Don't corporations just chuck their money into any new upcoming thing just in case it takes off?
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sport✅
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notice me senpai
I want to claim my tits
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Post by sport✅ on Sept 21, 2023 13:27:03 GMT
So what we're saying is, now is the time to "Buy the Dip"?
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Post by smoothpete on Oct 11, 2023 10:59:22 GMT
The SBF trial has started. No filming or recording but there are people attending / spectating then reporting what has been said. SBF seems to be absolutely fucked. Gary Wang testified already and Caroline Ellison was on yesterday and will be back on today. They are firmly pointing the finger at Sam
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Post by smoothpete on Nov 3, 2023 9:23:26 GMT
SBF guilty on all counts, in a conclusion which would come as a surprise to absolutely no-one. The sentencing won't be until like March next year but he's looking at some serious jail time
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Bongo Heracles
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Post by Bongo Heracles on Nov 3, 2023 9:27:46 GMT
4.5 hours deliberation. Presumably that included a watch of the new scorcese movie and a Frankie and Bennys after.
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Post by smoothpete on Nov 3, 2023 10:09:38 GMT
I kinda feel bad for him in a way. He's going to have an interesting time in prison.
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Bongo Heracles
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Post by Bongo Heracles on Nov 3, 2023 10:23:11 GMT
Yeah, but then you think of how many poor saps he has completely ruined and the pity goes away pretty quickly.
Just following the case and working in the finance sector the whole thing makes my head spin. Its like where I work being ran by me. Genuinely. I was constantly thinking 'yeah, thats what I would do' and I am the last person who you'd want in charge of a billion dollar money pit.
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Post by Jambowayoh on Nov 3, 2023 11:18:25 GMT
I kinda feel bad for him in a way. He's going to have an interesting time in prison. TBF, he'll probably be in a "nice" one.
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Post by jimnastics on Nov 3, 2023 12:35:17 GMT
Spoke to a friend recently who has non-life changing but still a depressing amount of crypto/money tied up in the FTX bankruptcy, he's active in various creditor committees and whatnot. The consensus now is that creditors will get 90-100% of their claims paid out at some point, though it will be at dollar value as of Nov 2022. So considering btc, eth and various others have 2x since then, anyone who held crypto on the exchange when shit hit the fan (like him) will still be 50% out of pocket assuming crypto stays at current levels or above, but fuck it, that would be a hell of a result considering how it was looking earlier this year. Large claims are now trading at 50% which suggests big money buyers are confident of close to 100% recovery, as they generally look for a 2x return. One big factor is SBF invested $500m of creditors stolen money into Anthropic, a stake which is now worth approx $2b and rising and is held by the estate. The Debtors also seem to have done a decent job of untangling a web of assets, crypto and holdings and bringing it all in, I gather right now the estate is likely solvent with regards to creditor claims, the problem at the moment is it's mostly illiquid with only a relatively small % in cash and liquid crypto, but at least it's there and will get sorted.
One interesting thing he mentioned is that there are currently 3 major bidders (to be revealed in December, I believe) to take over the FTX brand and relaunch the exchange, with creditors possibly being given equity in some form of token. This brings into play potential recovery for creditors going over 100%, as they esentially are part-owners of the exchange. Seems a hell of a stretch to me to think anyone would come back to an FTX branded exchange even under completely different management, purely because of damage to the brand. But he made 2 decent points - 1) the relaunched exchanged could be the first and only crypto exchange to have full proof of reserves and a legitimate regulated custodian and 2) you've got millions of creditors, now equity holders, who are massively incentivised to make it a success.
It's kind of fascinating to me hear from inside the bankruptcy, when the belief in the general public is that everyone lost all their money. That aint's the case.
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Post by smoothpete on Nov 3, 2023 13:50:50 GMT
Yeah they got lucky with Anthropic. But as the judge pointed out, if you steal $1B from the Federal Reserve and buy lottery tickets and win $2B, you still stole the money
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Post by jimnastics on Nov 3, 2023 15:31:51 GMT
Yeah they got lucky with Anthropic. But as the judge pointed out, if you steal $1B from the Federal Reserve and buy lottery tickets and win $2B, you still stole the money Indeed, I'm not defending SBF at all here, total fucking scumbag. But Anthropic is a massive win for creditors.
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