Cryptocurrency

[Hobosapien]

Interesting article on the BBC:

Bitcoin buster? The search for a more stable cryptocurrency

So these 'stablecoins' are going to be tethered to FIAT. Venezuela with their million% inflation or Turkey with their decimated lira are just the start of the collapse of FIAT due to unsustainable debt and money printing. How long before USD, the Euro, and the £ follows them?

The bit about tokenising assets is interesting, if the asset is rare and therefore likely to appreciate rather than depreciate over decades. Though without regulation or some third party escrow type mediator how will those buying tokenised assets avoid getting scammed when the asset is sold or 'stolen'?

[scooterscot]

Trust token and Carbon and stable coins. Carbon you can't buy yet but good to make 1000x when it comes online.

[Hobosapien]

A crypto version of carbon credits?

[scooterscot]

https://www.carbon.money

When running it'll be paired with the dollar. However, unlike Tether, it does not require dollars in a bank (Which Tether will not prove that they do).

Instead Carbon will adjust the circulating supply. So if you hold 10 tokens and there's a bear market people will start buying lots of Carbon. Carbon will automatically create more tokens to meet demand and maintain parity with the dollar. Your 10 tokens will become 100, 1000, 10 000 and so on.

I'll likely buy a bunch during the next bull run.

[AtW]

Parity with dollar promised but not backed even by fantasy unverifiable dollar reserves?

Ponzi scheme alert, rather obvious one

[AtW]

Trust token and Carbon and stable coins. Carbon you can't buy yet but good to make 1000x when it comes online.

Thanks for the advice...

[BR14]

Thanks for the advice...

i still have some magic beans, i could be persuaded to sell.
they've gone up 3000% though <the Giant insisted on a pay rise, backed by the Giant's union>.

[jamesbrown]

i still have some magic beans, i could be persuaded to sell.
they've gone up 3000% though <the Giant insisted on a pay rise, backed by the Giant's union>.

Scootie’s head swelled 3000% when it was trampled in the last bull run.

[AtW]

Oi pooper, you've missed this news bit:

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Arrested BitConnect kingpin is connected to yet another cryptocurrency scam

Nearly eight months after BitConnect pulled one of the most iconic exit scams in cryptocurrency history, the authorities across the globe are still catching up with the crooks behind the pyramid scheme.

The Indian police arrested Divyesh Darji, the alleged Asia head of BitConnect, on Saturday, local publication DNA India reports. Darji was travelling from Dubai to Delhi, when he was nabbed at the Airport by Gujarat Criminal Investigation Department (CID) officers, with the help of the immigration department.

With the last cryptocurrency exchange that still trades BitConnect now discontinuing it, and this crackdown of authorities against BitConnect architects, it does seem that BitConnect is breathing its last. But it’s not his BitConnect connection that makes Darji’s arrest interesting, it’s his connection to other suspected cryptocurrency scams in India.

https://thenextweb.com/hardfork/2018...cy-scam-india/

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TulipCoins == Scam, same as "timeshare" even though some of which could have been (and maybe is) legit.

[Hobosapien]

https://www.carbon.money

When running it'll be paired with the dollar. However, unlike Tether, it does not require dollars in a bank (Which Tether will not prove that they do).

Instead Carbon will adjust the circulating supply. So if you hold 10 tokens and there's a bear market people will start buying lots of Carbon. Carbon will automatically create more tokens to meet demand and maintain parity with the dollar. Your 10 tokens will become 100, 1000, 10 000 and so on.

I'll likely buy a bunch during the next bull run.

So as a 'stablecoin' it's not intended for speculation as relatively low volatility is the whole point, yet not immune to devaluation if pegged to the dollar that can be printed at will. So its value is short term hodling for quick and cheap transactions, fulfilling the intended use of a cryptocurrency.

Will be interesting to see if this or anything trying to do similar gets sufficient traction to make it worth using, or if bitcoin (and it's additional layers that make it more suitable for transactional use) continue to dominate the crypto space.