/biz/ - Business & Finance

>>16142112
Do you live in Argentina?

>>16142112

This shit always gives me anxiety but for at the end of the day it's going to save a lot of people from starving to death.

On the other hand as an american i heartily kek that ppl literally have 2 be about to face armageddon before thinking about buying BTC and for me I hopped ship on USD So fuckin fast soon as i saw an alternative. ppl have to plan ahead

>>16142121
Yes and i am suprised of how fast this is happening it's been 2 weeks with capital controls and normies already are starting to become aware of crypto as a way to bypass them.

>>16142144

>>16142144
For anyone who’s read history or understands basic economics, this exponential adoption out of nowhere should be no surprise

Hyperbitcoinization can and will happen overnight

>>16142144
Wow. So are people there really buying BTC?

>>16142227
Nobody seems to openly say it , but normies on reddit are even speaking of things like dai or tether, on new sites even boomers are speaking of bitcoin and crypto as a way to bypass the capital controls.

The ammount of purchases must be massive since the average spread on exchanges or localbitcoins is 20% to the point that btc is 11k.

What does suprised me is that normies are speaking of things like dai that even myself did never researched , they may be afraid of crypto stability but they are starting to become interested in stablecoins fast.

>>16142224
yes, the same way we went from "why do you need this www thing?" in 1995 to ubiquitous internet by 2005...not ppl cant even survive without it.
same will wind up happening with crypto. the 2020 decade will go from it being an oddity to considered essential for daily living in a decade

>>16142224
>>16142144
Hyperbitcoinization??

I have some relatives in argentina and they all literally want usd to save little wealth they have because btc is:
a)to complicated
b)they are tech savvy but got burned on btc volatility
Tech savy ones talk about dai now I shit you not made me to start looking in eth more

Truth to be told my less than 20 relatives is not much of sample but makes sense

>>16142287
Yes but the restrictions on credit card usage will increase btc demand and bring an horde of normies into crypto.

This is happen faster than i expected.

>>16142287
Do you think any of them will buy BTC?

>>16142318
As i sad not really insider only few relatives from 20 of them:
100% of them want out in usd$
2-3-did btc route
same 2-3 now talk about stablecoins

>>16142315
Is all trafic trough localbtc?

>>16142250
>>16142287
>>16142112
HOLY SHIT ITS TRUE

just went on argentine subreddit and searched "bitcoin". first thing that comes up is "circumventing capital controls with bitcoin" and second most upvoted post is a reply talking about DAI. pic related

https://www.reddit.com/r/argentina/comments/doiba5/loophole_al_cepo_para_comprar_dolares/

>>16142362
The capital controls are called "cepo" here , google cepo bitcoin or cepo crypto and see the news it's fucking insane what is happening.

>>16142359
>Is all trafic trough localbtc?

Localbitcoins , cash trades are also big here , and we have a shitton of exchanges now since it seems to be the only business growing in our recession.

>TFW stablecoins are QE 5.0

>>16142388
Man I wish you best luck from the bottom of my heart with that shitshow you got down there.

>>16142388
>>16142388
fuuuk man best of luck with this. seriously this is gonna get nutsofucko fast

>>16142112
Is this an RSR thread?

>>16142250
Aproveche y saquele ventaja a ese arbitraje. Aca tambien usamos BTC bastante (Madurozuela). Yo mismo tengo dinero guardado en DAI y USDC.
No esta de mas dolares en efectivo tampoco.

>>16142464
>>16142480
Thanks friends , this is getting crazy fast.

>>16142497
Como guardas los dai y usdc en una hardware wallet , me gustaria empezar a probar stablecoins por si se va todo a la mierda.

>>16142490
It is now.
Someone tell Nevin to quit pissing about in Venezuela and get RSV rolled out in Argentina asap

Shill them linkpal.io. They can buy ETH trustlessly with it

>>16142287
Who the hell is mad enough to sell bitcoin for pesos right now in Argentina?
I would want to hold that stuff tight

>>16142112
The most people in argentina cannot pay bitcoin fees, also remember that bitcoin is fully transparent.

>>16142112
Tell your people about monero. Try out monerujo on android. Write in the argentina subreddit that the bitcoin tranparency is dangerous. And I will send you more moneroj.

Toasting in a cleverly crafted DAI spic shill bread

>>16143798
>shilling DAI
for what purpose? its a stablecoin

>>16143775
Kek who are you anon , how much Monero you have?
I know that Monero is more advanced than btc but there is no liquidity of monero in argentina.

Only btc and a litle bch is found in the local markets atm , unless monero has something like localbitcoins or bisq i find it hard that it grows in the local market for the time being.

Eventually due to it's low inflation it will but it's hard to get monero from here.

>>16143798
it's not shilling , normies are speaking of dai since many considered to buy tether to bypass the capital controls and others started to say that dai was better.

>>16143711
Sure we can just do a 1 sat fee and it will go in an hour , btc has not bottlenecked since bch is taking users when it does since most payments go through bitpay that use both coins.

The problem is that local liquidity is always disappearing and we are now disconnected from global exchanges.

How are they talking about it?

Like in Spanish. Or boomers living in Argentina.

Serious how

>>16143893
In spanish regarding capital controls , even boomers are realizing that cryptos can bypass them.

BTC isn't usable for poorfags.

>>16143875
Try localmonero.co (not .com)
As far as I know, the highest volume pair on bisq is xmr/btc.

>>16143926
it's dead as fuck on Argentina , only btc has liquidity atm , bch is gaining too , ltc , or xmr lack liquidity here.

Maybe randomX changes that by distributing the miners globally better allowing for supply to be distributed locally everywhere.

>>16143875
>we are now disconnected from global exchanges.
Good that you will be able to mine XMR after randomX goes online in a month. No exchange needed.

>>16143960
BCH is the only one that makes sense. I couldn't imagine trying to use BTC on a dollar a day income or w/e you faggots have there. Obviously BSV would be even better, but I would imagine there is even less of a market for that there unfortunately.

>>16143960
>it's dead as fuck on Argentina
it's dead as fuck everywhere. and no one actually uses monero. its a hobby project without any actual users. maybe it will be something in the future, maybe not.

>>16143960
>>16143961
Kek with 2 seconds of difference , yes randomX may make that great.
Tough make no mistake what is happening on btc is also incredibly for a few reasons i exposed here.

>>16098620

Not only the spread makes it easier for freelancers to get their money into the country it also will destroy our central bank kek.

>>16144007
BCH usage of sha256 is incredibly stupid tough i may use it for payments if it grows more in liquidity but i am not saving money there since i am not retarded.

>>16144007
>buy $5USD of Bitcoin
>the fee is 3 months' salary

>>16144014
it will have the lowest inflation of all coins during the btc halving bullrun tough also if randomX works it's one of the coins with the most potential.

>>16144026
>BCH usage of sha256 is incredibly stupid
Why?

>>16142362
>Tether confiable
I don't have a laughing pepe enough for this.
Tether will implode the moment 3 countries go bankrupt, two of them will be spanish speaking countries. Mark my words.

Argies have no money to buy bitcoin with. Even if 90% of argie families spent 20% of their savings and income stacking btc, it wouldn't make a dent in the market.

>>16142362
too bad dai is a stablecoin and you can't speculate on it lol
pottery

>>16144014
>hobby project
How does lying on the internet feel like? Tell me.

It is the only coin with development, paid PhDs and audits.

>>16144046
it's exposed to all bitcoin asics and due to game theory most asics will go to mine btc meaning that the percentage of dominance in sha256 mining of bch or bsv will continue collapsing until eventually a 51% attack becomes very easy.

https://bitinfocharts.com/comparison/hashrate-btc-bch-bsv.html#6m

>>16144099
Hashrate can drive price absolutely.
But the other side of this is price can drive hashrate. If adoption increases raising the price miners will move over to the other chains like BCH/BSV.
It’s not a one way street.

>>16144099
If anyone wanted to 51% attack either fork they could right now. 51% attacking things is almost always a waste of time and money and margins are thin for miners. It's far more profitable to just mine whichever fork is currently most profitable to mine. Changing the mining algo would kind of defeat the point of any of the forks making the claim of being Bitcoin.

BTC is taking the turn, charts dont lie. 14k next week

>>16144151
I agree yet the reality is that the digital gold meme means lot's of btc will be parked as a storage of wealth while no one will freeze bch to save money.

So btc hashrate will continue to grow while bch and bsv hashrate keep collapsing relative to sha256 mining potential.

Maybe bch could flatline if adoption grows but until they don't leave sha256 they are exposed.

>>16144165
That's not the point , the point is that relative to all the hashrate put on sha256 coins , bch , bsv and all others keep losing percentage of that total while btc ends up gaining more and more.

Eventually 1 small mining pool would be able to attack bch or bsv.

>>16143960
>it's dead as fuck on Argentina
Be the first one to sell Moneroj on localmonero. As I said, I will pay you, if you spread the word.

>>16144099
it's already trivial for a major btc miner

>>16144099
btw profit margins on a 51 are slim to none if you try to double spend, but what if you short?

>>16144202
It's much easier to see on a log scale. Both bch and bsv are trending up. This is after they split, which before the disparity between btc and bch was smaller.

What happens next is bsv flipping bch. After that bch basically falls out of relevance and the hash between the two will be much more skewed for bsv. As the price ratio continues to build on bsv-btc so will the hashrate.

It's w/e though. Not what this thread is about. I hope those poorfags enjoy their fees.

>>16144236
it's even worse than that , all you need is one pised group with faketoshi to fuck everything up there.
BCH seems to be protected by the chinese pools but the problem is still there.

>>16144221
Which is why using sha256 is retarded , bch could literally move to scrypt and will dominate there due to having a lower inflation than ltc.

>>16144217
After randomX if it works i may start to mine kek leftards morons here gave electric subsidies that made electricity cheap as fuck if they do that crap again i am going all in into monero mining kek.

>>16144255
The only reason why bch and bsv had any hashrate growth is because btc miners can put their old asics to mine there after smaller nm asics make those lose money.

>What happens next is bsv flipping bch. After that bch basically falls out of relevance and the hash between the two will be much more skewed for bsv. As the price ratio continues to build on bsv-btc so will the hashrate.

In your dreams , bch is backed by bitpay and has actual usage , even more than ltc , xmr , dash or any other coin that has potential.

The 50k daily transactions on bch are real and probably half from fiat entering there , while most bsv transactions are memes like the weather app

>>16144053
It's not that they will raise the price it's that crypto may offer security to people in crisis.

>>16144329
This is what some normies were saying on reddit it's like having a foreign bank account.

You people will learn about the dangers of transparency the hard way it seems.
Imagine you are paying at a restaurant in argentina with bitcoin. After the payment, the waitress knows your balance. This is dangerous for your health.

>>16144069

MKR holders benefit, brainlet.

>>16144382

anon, there is more than just bitcoin.

>>16144273
>Which is why using sha256 is retarded
no argument there, altho bch at least has some catastrophic reorg protection from a hostile rogue miner but it's a double edged sword any disruption of the internet service (or a special ddos attack) may very well split the chain permanently.

>>16144401
from people buying dai? heh no way.

Imagine trying to flee from capital control with a transparent blockchain.

>>16142144
Any talk about RSR?

>>16144517
Not yet , neither about dash which i know shilled in memezuela for years so it's a little weird that normies all out of nothing started to speak about stablecoins.

>>16144543
Seems like an untouched market just ripe for the picking. I wonder if stable coins will be able to latch on.

>>16142112
Very interesting OP. So they are buying locally and then what? Do they know all the things you can do with Dai (such as lending)? Or do they just hold dai?

>>16144559
it is a massive market for cryptos probably the best in the world because contrary to memezuela the economy does not move because of oil so there is a massive demand for such an asset in the current conditions.

The problem is how to create local liquidiy because you can't take the income through banking so if you sell coins here making a gain you can only take your gains by buying again coins or with a plane.

So it's a weird thing , if monero randomX works the game will change tough.

>>16144574
Just hold since you can legally only buy 200 usd PER MONTH due to capital controls . normies realized they can buy btc and then stablecoins without any limit so the demand is big.

>>16144589
yeah but some of these ethereum wallets (such as argent) are making it easy to access DeFi applications. Why hold when you could lend and make 2-4% APR? So, somebody should tell them.

>>16144255
its sad and pathetic to see a bsv drone trying to chime into a conversation like this where real world use is being discussed.
go away schizo. no one in argentina is going to buy creg coin.

>>16144601
I have no fucking idea about ethereum or dai to be honest the fact that normies were speaking about it is what raised my alarm.

Where can i learn more about that?

>>16142112
>Don't cry for me Argentina...

>>16142112
RSR would really help the peeps in Argentina to store their value though, can't imagine living a life where your value drops every day

>>16144641
It's called DeFi (decentralized finance) or open finance. Here are some links:
defiprime.com
defipulse.com
makerdao.com
compound.finance
augur.com
uniswap.io

The idea is that you can use ethereum to make autonomous financial applications that are open to everybody, do only what their code says, and some other interesting things.

Some ethereum wallets make it super easy
https://invidio.us/watch?v=51KRhuB5IZg

you can skip to around 7:00 to see the lending

this wallet is really good but it's proprietary software.

>>16144651

>>16144655
You already do.

>>16144693
augur.net* not .com

>>16144693
Thank you just copied and pasted will read once i am not asleep tomorrow.

>>16142112
God fucking dammit threads like these are what has kept me holding even though I held through the $19,000 range, held when it crashed down to $3,400, and held, and still fucking holding. Only 5 BTC but still. It was a serious decision for me when I was close to $100,000 to do this.

>>16142258
If this is actually true, or, even if bitcoin moves towards the market cap of gold (less than bitcoin in almost every way) than even those with 2-4 BTC will be millionaires.