Sametboy2019

Hoi An

3 hours ago, yogavnture said:

it starts at 7 am when i go my meditation practice.  who the heck smokes weed at 7 am?

Maybe he smokes it for medical reasons

On 1/18/2023 at 8:47 AM, Bkk Brian said:

Wow the hate is real, Greta has done more than any of us to help change politicians and policy makers perspectives and attitude to a more sustainable future. I applaud her for that. Even though I don't always agree with some of her actions such as this one.

All for the camera's. Another pawn in the WEF group.

On 1/13/2023 at 9:51 AM, lkn said:

And how does that differ from a regular database system predating blockchain?

 

Remember, the claim was that the blockchain could improve storing of medical records, specially, it would no longer store them “in one particular hospital's database” but rather on the blockchain.

 

To which I replied that this is ridiculous, because we do not want medical records on a public blockchain, but then you say, it will be a private blockchain, so how is this different from how medical records are already stored?

 

Presumably the idea is just that hospitals share the database, but they already do that in many European countries, and have done so even before “blockchain” was invented.

It isn't. Private blockchain doesn't need crypto to run but it's just a glorified database without it albeit a much more secure and scalable one.

14 hours ago, lkn said:

A private blockchain is an oxymoron. The idea with blockchain is that anyone can participate on equal terms to validate the correctness of the information on the chain, there is a reward system to incentivize people to “do the right thing”, and no central control.

 

Once you make it private, introduce authorities, permissions, notary services, etc. then it is no longer a blockchain in any meaningful way, just a regular database and/or distributed system, which is something we have used for decades, and using them, e.g. for medical records, is not “blockchain disrupting traditional systems”.

 

I already replied to that in this comment. Short answer is treasury bills and mortgage-backed securities, if we are talking about USD.

On 12/27/2022 at 8:03 AM, lkn said:

That is absolutely ridiculous. Do you want thousands of copies of your medical records stored on the internet for anyone to read? That is blockchain!

 

And what problem does this solve? If it is that U.S. hospitals cannot exchange medical records between each other, then that is already solved in other countries, and blockchain is not really a solution, i.e. in its current form, it cannot do it, you would need to agree on a standard for medical records and then have all hospitals update their systems to conform to this standard and be able to read and write to a blockchain. If you do all this work, you might as well just create a proper system without a blockchain, so that medical records are not leaked into the public.

 

Like a gift card? All this stuff can easily be done without blockchain.

 

Edit: Also, local municipalities can’t just “print money”. Only central banks can “print money” but they take on liabilities when they do so. Most crypto proponents seems to not really understand our monetary system, which is why they think that new tokens can just be brought into the world with some value assigned to them, but unlike fiat currency, they are backed by nothing, so they should be worth nothing.

Blockchain has private and public chains.

Fiat is backed by what? It used to be Gold but Nixon removed it. Now the US dollar is under threat as it is the reserve currency backed by the petrodollar agreement that you can only buy oil with the dollar but that is now changing with the BRICS partnerships and Saudi Arabia is in talks with China about buying in Yuan.

Russia is saying it will only sell Gas in Rubles.

How do you get round this? A possibility is cbdc's of a dollar, pound,  ruble etc. Then you use a crypto currency as a bridge asset like XRP or XLM to use a the exchange mechanism.

The new guidelines are for all non-Thais and will be effective until at least January 31.

Most interesting part.....Translation: If tourist numbers decrease then we will just change the rules!

On 1/6/2023 at 6:11 PM, ozimoron said:

Who told you they were supposed to give immunity? Educate yourself before spreading misinformation.

One of the new regulations is if you have had Covid in the last 6 months you dont need to be double vaccinated, just a letter from your doctor confirming it so they are obviously confirming that infection gives you a 6 month immunity!

FYI tests have shown that some people have antibodies up to 18 months!

My favourite is the DIY checkout services that are now in places like Tops. Thais are all so eager to use them but have no idea how to!

On 12/1/2022 at 9:18 PM, placeholder said:

And if your bitcoin exchange goes bust, you can kiss your bitcoins goodbye.

If a bank in the US goes bust, your money is protected by the FDIC up to I think $500,000 for each account.

And the USA's fiat money is backed by the full faith and credit of the United States.  Fiat money is backed by ???

Anybody who keeps their crypto on an exchange almost deserves to  lose it

Because if its not legal then a 25 yr old couldnt supply weed to homeless 10 and 11 yr olds right?????

31 minutes ago, Phnom Penh Trader said:

The whole problem with Bitcoin and cryptocurrencies in general isn't the product it's the halfwit,beanbag-sleeping,commune-living,trustafarian,lefty kids running the exchanges!

All trust and credibility has now been lost because of them and it will be very difficult to regain?

That's why we will more likely see more exchanges go down.

Regulations will be made and this ecosystem will most likely be handed over to some other custodians like JP Morgan or someone of that ilk.

5 hours ago, ozimoron said:

Sorry, I couldn't agree less. It's full of vested interests and hype.

That depends on who you follow. Its like the news. 

4 hours ago, In Full Agreement said:

 

So how many coins (?) do you actually own?     The shake up with BT isn't  finished yet.

 

Dont own any Bitcoin. Its just a simple rule when buying crypto.

13 hours ago, Mac Mickmanus said:

And there are some guys that bought when the price was $60,000 and they are now thinking . Could've had , shouldnt' ve had 

Should of bought the same amount or twice as much when it went to $15,500. Get that DCA down!

15 hours ago, ozimoron said:

I don't use any social media site except Line because I don't believe social media is a good place for info.

How do you know if you dont use it? Twitter is by far the best source for crypto news. 

I'll just leave this here.

21 hours ago, jack71 said:

But they are all sh%t coins. You cannot compare them to bitcoin at all. Ridiculous comment.  

Alert! Maxi in the building

26 minutes ago, Neeranam said:

What channel is it on+

livesoccer.tv shows what channel it is on in every country

1 hour ago, lkn said:

Mention one crypto that provides actual utility, i.e. creates actual value, solves a problem (that we actually have) faster/cheaper than existing solutions, etc.

 

Common for all of them are, that no-one can answer this. Take the video clip that was posted, interviewer asks, and the response is just that the haters spread FUD, rather than address what problems crypto actually solves.

 

I have blocked @Neeranam so I don’t know if his posts have improved, but he also just used to rant about “the haters” and tell us we were just jealous because we had missed the boat, etc.

 

A few posters did actually try to explain where value was coming from, but it was done by referring to various yield farming schemes and play to earn games, of course we now know for sure that these schemes were not sustainable, but even back then, if you had just a bit of knowledge about math and economics, it was clear that in the best case “value” was just transferred (zero-sum game), no value was being created.

 

Where value is created is in regulatory arbitrage, for example Thailand has currency controls, so it’s hard to move money out of Thailand. This can be done via crypto, and imagine I have made millions in Thailand that I need to get out of the country, but I do not have proper documents, I might be willing to pay 10% for someone to facility this, and indeed, I can do that, but those 10% (of the money I move) do not go to people who “invested” in coins years ago, it goes to those who “help me”, that is the exchanges and the miners, the exchange fee is easy to find, the transaction fee depends on the blockchain, and some also have block rewards, so basically everyone holding the token pays indirectly for my transfer (via inflation), this is something few people understand, but a transaction on e.g. the Bitcoin blockchain costs hundreds of dollars (if not more), because it is such an inefficient network, I may only pay $2 for this, the rest is paid by issuing new tokens to the miner (block reward), but that increase the total supply, which should actually devalue the token (I know Ethereum also burn coins to counter this, but it’s still an “unfair” system).

XRP. Fast 2-4 seconds. Fees are almost nothing. 

Not a retail option as this already exists. For banks to transfer the money  swift now handles.

Eliminating nostro/vostro accounts.

18 minutes ago, lkn said:

But those chains can’t do anything which can’t be done faster/cheaper by a central authority. They are “better” than the fully decentralized version, but that is only because they are partially centralized, a few of them even rely on central nodes.

No, I am talking about governance tokens or the “native token”. Every chain has its own token, you need some way to incentivize people to run the software, this is done by giving them some token, and they try to give this token value by providing “yield” when staking it, or burning tokens to decrease supply (in some misguided belief that scarcity alone gives something value).

But no-one will use it, if it is not a better system. Practically no-one currently is using it. it’s just a speculative non-productive asset, I think it was @happydreamer above who admitted that it serves no purpose what-so-ever, but they still invested because “what if…”, i.e. thinking that in the future, it will take over the world.

 

Many people mistakenly think that there is value there, and that is why they invest, and they think that because we have people like the proponents on this forum who talk like it is a revolution, not realizing just how bad crypto actually is, and also not realizing that many of the things they claim about the existing system, is just not true, i.e. it does not take five days and cost twenty dollars for me to send money abroad with the existing system. These people tend to forget they probably have a Apple or Google Pay on their phone, and they can pay with that in majority of stores in majority of countries, and the amount is instantly deducted from their account, even with a currency conversion, if required, and they think having to show a QR code, wait ~20 minutes, and pay an unknown amount of money for the transaction, which depends on the current network load, is a better system…

You are actually grouping all crypto together when they are not all the same.

I'm not here to change your mind or win anything.

I know what I hold and I appreciate all your concerns and points.

I guess as they say "The proof will be in the pudding".

Let's see how this rolls out over the next few years

57 minutes ago, lkn said:

These things have “foundations” behind them that sit on huge amounts of their own token and it’s based on consensus with whoever holding the most tokens, having the most votes, and also getting the largest share of new tokens.

 

You really think that is a better system than what we have?

Before you were only concerned with what the tech can do. 

 I'm presuming you are talking about crypto exchange tokens and all the nonsense that has gone on with FTX and others

I wouldn't personally buy any exchange tokens or leave my tokens on a exchange as I believe they will all be targeted and most will go bust, be hacked or be regulated out of existence. 

There will be a few more scandals in crypto for sure but it doesn't bother me. 

Do I think it's a better system than what we have?

It's irrelevant. You or I won't be asked!

I only know this technology will be used so I'm positioning myself accordingly.

On 11/17/2022 at 3:56 PM, lkn said:

Then please quote that answer. The question was: What can crypto/blockchain do faster/cheaper than J.P. Morgan.

 

Bitcoin does 3-4 transactions per second, and that is a technical limitation. MasterCard does around 5,000 and has never had a congestion issue, i.e. they can scale it based on demand, Bitcoin has regularly seen congestion, and in turn, high transaction fees.

 

Also, SWIFT is a messaging system, it does not move money, it ensures that banks can communicate in a secure and authenticated way. Banks are introducing delays, e.g. a bank may flag all payments above $10,000 and/or which goes to certain countries, and require manual verification of these before they are processed. They might even be required to do some of this due to regulation.

 

I think it is pointless to continue this thread if this is where you’re coming from.

Picking the slowest and most expensive blockchain v Mastercard is hardly a fair comparison!

ADA can process about 1 million transactions per second (TSP)

Cosmos (ATOM) can process 10,000 transactions per second with an average confirmation time of 2-3 Seconds

Avalanche offers a throughput of 5000 TPS with an average confirmation time of 1-2 sec

Many other also.

Im aware what swift does and the change to iso2002 incoming.