Yep. Lots of options. Celsius is another option.Something like this?
Pulling up a chart of USD Coin:Here's the thing, you can put your cash into a 1:1 backed stablecoin like USDC and pull 6-10% APY. It's been that way for two years now. Low risk, decent return. It still doesn't keep pace with real inflation, but it takes the sting off.
It's a stablecoin, it's supposed to stay at $1. You're paid 6-10% APY interest on your deposit just like a bank. Celsius then uses that to lend to overcollateralized borrowers.
Pass. Making way more doing my own crypto trading, not to mention stocks, mutual funds.
OK, so it’s essentially paying a dividend. I’ll look into it.
I think the bankers have seen the writing on the wall and are trying to catch up and get ahead of the curve. Which they'll probably do, with the resources at their disposal.I have this horrible feeling about the development, and widespread usage of cryptos.
I believe the Federal Reserve, and other evil bankers are actually behind their development.
These bankers are simply waiting for the technology to mature, and for enough people to start using them, to introduce a single world wide crypto. A crypto with absolutely none of the secrecy or anomimity of bitcoin. They plan to use this one world crypto to track every purchase, tax every exchange, and control the life of every person on earth.
So yes this is like the development of the airplane. Except the person funding this development, and just waiting for a usable airplane is Adolf Hitler.
Does this occur In Coinbase, or do you need Celsius or something similar to it? For preppers keeping six months of emergency expenses liquid and stable, this seems like an ideal option
Coinbase supports centeralization, not decenteralization - remember that.that's the interesting thing about crypto that limits its uses for what i expect to be the dystopian future. while the specific identity of the owners of a bitcoin wallet might be theoretically anonymous (setting aside all the people who had to submit a photo id or some other info when creating a wallet on coinbase, et al), all the transactions themselves are public (they have to be for the ledger to work). the possibility that quantum computing, which the government is pursuing with enthusiasm, will render existing encryption insecure is very high. and also, keep in mind that even if your identity is not known, if the identity of someone you transacted with becomes known, there is the potential of being traced, think of it like a side-channel attack.
could they always have gotten this information from banks? yes. however, there's a big difference. the effort of requesting that info from private banks, and the effort/time involved fulfilling those requests, and reviewing those requests by hand, limited the size of the dragnet that could be cast. that dynamic changes somewhat with a public blockchain.
That's why I've mentioned Bitcoin's declining security budget.Something to remember with crypto....There's apx 21 million bitcoins available, and we are at about 18 million already mined. The operations are finishing. The hash rate, the "network power" is required to maintain each transaction. The power is created by the mining. Once their is nothing left to mine, why will the hash rate remain? What happens to the crypto when there is nothing left to hash?
Just for info, it’s currently estimated that it will take another 119 years to mine the remaining 10% of Bitcoin.Something to remember with crypto....There's apx 21 million bitcoins available, and we are at about 18 million already mined. The operations are finishing. The hash rate, the "network power" is required to maintain each transaction. The power is created by the mining. Once their is nothing left to mine, why will the hash rate remain? What happens to the crypto when there is nothing left to hash?
Yep, it's not a problem anytime soon, really shouldn't be a problem for another 20 years or so (being generous), around that time the community will have to make some big decisions though.Just for info, it’s currently estimated that it will take another 119 years to mine the remaining 10% of Bitcoin.
correct except that the delineation between an asset and a currency is not so clear. Bitcoin is both technically. I've been into bitcoin since it was $300/ coin, nice to see people finally starting to get it. Study monetary theory and look up "the velocity of money" as that is important when assessing the value of BTC as a currency or for that matter assessing the economic vitality of any economy in relation to its currency.I watched an episode on Tucker Carlson Today (available on Fox Nation streaming service) on crypto currencies. His guest was Michael Saylor, CEO of MicroStrategy, a software company, and an ardent supporter of Bitcoin. He personally owns over 17,000 in Bitcoin.
For the first time, I understand Bitcoin. And I also learned a lot about economics. Everything this guy said rang so true. The key takeaways for me was that Bitcoin is an asset, not a currency. It's limited supply is what makes it valuable - i.e. it can't be inflated like printing money or a company issuing more stock. But his explanation of what's going on right now in the economy was spot on, with inflation and how it's eroding the savings of anyone who has a bank account or money market or is invested in a bond fund. Real inflation is way higher than what the government is telling us, more like 30%.
I'm personally invested about 50/50 in cash (money market) and stock mutual funds. So, 50% of my money is eroding away, and I'm gambling the other 50% on companies like Apple, Facebook, Google and other tech giants that I hope will continue to make crazy gains. I have a small percentage of gold and silver, which I still think is worth having. But now, I'm going to invest in Bitcoin. I'm thinking it may become the most stable asset and appreciate in price more than anything I currently have.
The show is 80 minutes. Well worth it. If you don't subscribe to Fox Nation, you can signup for a 5-day trial and cancel later on.
Updated to add: This is now on YouTube. See post #8 below...