bitcoinbutter

5 ms·

1.
by bitcoinbutter 6y ago
What is the purpose of acquiring wealth perpetually until death? The implication by the author is that non-essential purchases are a complete waste of money. Going out for a nice meal with friends is an experience. Experiences are valuable.
2.
by bitcoinbutter 6y ago
You're guilty until proven innocent on nearly every regulated financial service platform. Prepare to explain with evidence how you got the money, why it's being sent, and who it's being sent to, at a moment's notice. Oth
3.
by bitcoinbutter 6y ago
You can try to write all the laws you want, eventually it boils down to manually reviewing a ton of transactions and everyone loses. The bank needs to pay for growing compliance departments, customers are scrutinized on a growing number of
4.
by bitcoinbutter 6y ago
What you don't see in this article is that HSBC has tons of false positives and the scrutinization of transactions slows everyone down. The more strict they need to be with money flow, the more regular people suffer from crippling KYC
5.
by bitcoinbutter 6y ago
The Federal Reserve seems primarily focused on keeping asset prices high. Their policies seem to react directly to downward pressure in the equity markets. When you consider that the appreciation of these markets only serves to widen the we
6.
by bitcoinbutter 6y ago
It's crazy to me that if I want to buy Ray Ban sunglasses off Amazon, I am routed by default to random third party sellers. I have purchased these once before and I'm almost positive that I received a fake product. How can I know
7.
by bitcoinbutter 6y ago
They'll need to survive for 10 years losing billions annually if that is their goal. And it will take them years to scale up automated rides/food delivery even after it becomes available.
8.
by bitcoinbutter 6y ago
Bitcoin has really settled down in terms of price swings over the last year. It did have a major covid crash, but aside from that it's been very stable for the past year. Keep in mind that the price moves also attract attention, and ac
9.
by bitcoinbutter 6y ago
The market seems to be pricing in the best case scenario here. They're saying that almost everything is back to normal by Q3. This would be 4 really bad months (March-June) total. The reality is that the future is very uncertain at thi
10.
by bitcoinbutter 6y ago
The stimulus packages seem more focused on ensuring that asset prices remain inflated. The idea that the average person will see any major impact from the S&P500 dropping to 2000 points is laughable. How many people do you know that tru
11.
by bitcoinbutter 6y ago
I mean, if there is proper 2 factor authentication set up, it would be much more difficult for this scam to work. Most banks in Asia issue you a physical security token, which if you lost you'd need to get it replaced in person.
12.
by bitcoinbutter 7y ago
Well the solution is to have some sort of emergency fund which activates in black swan events to rebalance the portfolio. It's just something to factor in. Adds some costs to operations but only fractions of a percent.
13.
by bitcoinbutter 7y ago
Yes, the people arguing that blockchain has it figured out for regular transactions are fools. Blockchain has a long way to go and many serious challenges to overcome before it can compete with payment networks like Visa. It does a disservi
14.
by bitcoinbutter 7y ago
Big amounts, like 25M+ are usually done OTC. Several big companies in the space offer this service and are able to link you with one or multiple buyers to offload 9 digits. You can easily offload 10M USD worth over 10-20 minutes without hav
15.
by bitcoinbutter 7y ago
This is such an important concept for negotiations of all sorts. If you are negotiating the hard way, then people are going to be put off from interacting with you in the future. There is a social element to all relationships, and the Trump
16.
by bitcoinbutter 7y ago
The investigation is on Iranian soil. There is no access to the FAA or similar agencies. Iran would have every reason to want to cover up an erroneous missile launch. In Ukraine, there was a cooperative effort to investigate the crash, and
17.
by bitcoinbutter 7y ago
It wouldn't take very long for the relevant parties to know whether they accidentally shot a missile at a 737. For a mechanical issue, there would be much more uncertainty (although it's possible the pilot reported the issue to AT
18.
by bitcoinbutter 7y ago
And on top of that, one might argue that humanity is highly self-interested by nature, and people with the greatest self-interest will be much more likely to obtain power.
19.
by bitcoinbutter 7y ago
Credit card companies also make a huge amount of revenue from merchant fees. Every transaction carries a fixed and percentage-based fee. Often something like $0.29 + 2.5%. Payment companies like Alipay have much lower fees to the merchant,
20.
by bitcoinbutter 7y ago
The problem is, it also includes anyone who has ever logged into a US VPN. There is no doubt that this will catch some Americans who are abroad, but if you are getting 3-4 non-US clicks to get 1 American abroad click, you are effectively pa
21.
by bitcoinbutter 7y ago
Crypto is cash 2.0. It has many flaws, but it also does certain things cash can not. Some examples are high value transfers, long distance transfers, and easy accessibility across borders. You can go ahead and tell me this is only useful fo
22.
by bitcoinbutter 7y ago
Yes, one big issue is that payment processors are incredibly centralized and massive. These two combined means that they are incentivized to de-risk their platforms and stop serving customers they determine to be "high risk". &quo
23.
by bitcoinbutter 7y ago
Ethereum's smart contracts are obviously more developer friendly and easier to implement. Ethereum smart contracts are the go-to for dapps, despite having a significantly smaller userbase and market cap than bitcoin. To say Bitcoin sma
24.
by bitcoinbutter 7y ago
You're looking at humanity through the lens of an individual. The reality is that the threats to people in extreme poverty are not going to threaten humanity as a whole. I am defining humanity as the progression and prosperity of the h
25.
by bitcoinbutter 7y ago
You could argue that SoftBank alone has greatly impacted #2. Before they came around these types of investments were quite rare.
26.
by bitcoinbutter 7y ago
Disaster is certainly hyperbole. It would imply their business is in jeopardy or something. All this means is a lower P/E ratio in the future. Apple has an absurd amount of cash on hand, and are still earning huge profit.
27.
by bitcoinbutter 7y ago
It's unfortunate the way that sexual relationships are intertwined with finances. Gone are the days where women have little/no earning opportunities. People should be allowed to keep finances separated unless explicitly deciding o
28.
by bitcoinbutter 7y ago
The other thing is that "winnings" feel like a different type of money. If I win at the casino, I cannot wait to spend that new money. Whether it's buying my friends drinks or buying some item that I wouldn't buy with re
29.
by bitcoinbutter 7y ago
Interac "works" but has many pitfalls. Some examples: - Inability to issue refunds - Lack of 2 factor authentication - Non-unique payment addresses (receiving emails are not bound to one account or even one person)
30.
by bitcoinbutter 7y ago
That's not arbitrage though. Kraken has a market rate. The only way to arbitrage the USDT / USD rate is if you have a reliable place to sell USDT at 1:1.

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