• Breaking News

    Saturday, February 1, 2020

    Home Unlabelled Cryptocurrency Monthly Skeptics Discussion - February 2020

    Cryptocurrency Monthly Skeptics Discussion - February 2020

    February 01, 2020

    Cryptocurrency Monthly Skeptics Discussion - February 2020

    Monthly Skeptics Discussion - February 2020

    Posted: 31 Jan 2020 04:12 PM PST

    Welcome to the Monthly Skeptics Discussion thread. The goal of this thread is to promote critical discussion by challenging popular or conventional beliefs.

    This thread is scheduled to be reposted on the 1st of every month. Due to the 2 post sticky limit, this thread will not be permanently stickied like the Daily Discussion thread. It will often be taken down to make room for important announcements or news.

    Rules:

    • All sub rules apply here.
    • Discussion topics must be on topic, i.e. only related to skeptical or critical discussion about cryptocurrency. Markets or financial advice discussion, will most likely be removed and is better suited for the daily thread.
    • Promotional top-level comments will be removed. For example, giving the current composition of your portfolio or stating you sold X coin for Y coin(shilling), will promptly be removed.
    • Karma and age requirements are in full effect and may be increased if necessary.

    Guidelines:

    • Share any uncertainties, shortcomings, concerns, etc you have about crypto related projects.
    • Refer topics such as price, gossip, events, etc to the Daily Discussion.
    • Please report top-level promotional comments and/or shilling.

    Resources and Tools:

    • Read through the CryptoWikis Library for material to discuss and consider contributing to it if you're interested. r/CryptoWikis is the home subreddit for the CryptoWikis project. Its goal is to give an equal voice to supporting and opposing opinions on all crypto related projects. You can also try reading through the Critical Discussion search listing.
    • Consider changing your comment sorting around to find more critical discussion. Sorting by controversial might be a good choice.

    • Click the RES subscribe button below if you would like to be notified when comments are posted.

    To see prior Daily Discussions, click here.

    -

    Thank you in advance for your participation.

    submitted by /u/AutoModerator
    [link] [comments]

    Daily Discussion - February 1, 2020 (GMT+0)

    Posted: 31 Jan 2020 04:12 PM PST

    Welcome to the Daily Discussion. Please read the disclaimer, guidelines, and rules before participating.

    Disclaimer:

    Though karma rules still apply, moderation is less stringent on this thread than on the rest of the sub. Therefore, consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here.

    Rules:

    • All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect.
    • Discussion topics must be related to cryptocurrency.
    • Comments will be sorted by newest first.

    To see prior Skeptics Discussions, click here.

    submitted by /u/AutoModerator
    [link] [comments]

    Glasgow, Scotland

    Posted: 31 Jan 2020 10:13 AM PST

    It took Kraken Security Labs just 15 minutes to hack both of @trezor’s crypto hardware wallets.

    Posted: 31 Jan 2020 06:57 AM PST

    IOV Labs and Coinsilium Announce £250K Joint Venture to Expand RSK Smart Contracts in Asia

    Posted: 31 Jan 2020 05:12 PM PST

    What ever happened to the investigation of bcash insider trading at coinbase?

    Posted: 01 Feb 2020 03:20 AM PST

    When bcash was forked, coinbase locked withdrawals and deposits while bcash was manipulated to over $9000. All other exchanges traded at a fraction of that value.

    I can't help but wonder about the hundreds of noobs that bought in at $9000 only for it to dump imminently once the exchange began operating again.

    Coinbase CEO Brian Armstrong stated he would investigate this blatant insider trading but 2 years on, I haven't seen any conclusion or legal action taken.

    submitted by /u/ArrayBoy
    [link] [comments]

    The Cantillon Effect and Wealth Inequality

    Posted: 01 Feb 2020 01:47 AM PST

    Have you heard of the Cantillon effect?

    Wealth inequality is a well documented problem in the United States, and more broadly across the world.

    This rise in wealth inequality over the past 30 years has to a significant extent been the product of monetary policy fuelling a series of asset price bubbles.

    Whenever the market booms, the share of wealth going to those at the very top increases.

    When the boom goes bust, that share drops somewhat - but then comes roaring back even higher with the next asset bubble.

    Also, those the very top are often diversified, so even if their wealth as a group technically goes down due to a stock market crash, as individuals they are generally fine and it is the middle class that bear the brunt of the damage.

    The redistributive effects of money creation were called Cantillon effects by Mark Blaug after the Franco-Irish economist Richard Cantillon who experienced the effect of inflation under the paper money system of John Law at the beginning of the 18th century.

    Cantillon explained that the first ones to receive the newly created money see their incomes rise whereas the last ones to receive the newly created money see their purchasing power decline as consumer price inflation comes about.

    In accordance with the Cantillon effect, inflation can increase inequality depending on the route it takes, but increasing inequality is not a necessary consequence of inflation. If it happened that the poorest in society were the first receivers of the newly created money, then inflation could very well be the cause of decreasing inequality since they get the money first.

    Under modern central banking however, money is created and injected into the economy through the credit route and first affects financial markets.

    Under this system, commercial banks and other financial institutions are not only the first receivers of the newly created money but are also the main producers of credit money.

    This is because banks can grant loans unbacked by base money.

    In a free-banking system, this credit creation power of banks is strictly limited by competition and the clearing process.

    Under central banking however, the need for reserves is relaxed as banks can either sell financial assets to the central bank in open market operations, or the central bank can grant loans to banks at relatively low interest rates.

    In both cases, central banks remove the limits of credit expansion by determining the total reserves in the banking system. In other words, commercial banks and other financial institutions are credited with so-called base money that has not existed before.

    Thus, the economics of Cantillon effects tells us that financial institutions benefit disproportionately from money creation, since they can purchase more goods, services, and assets for still relatively low prices. This conclusion is backed by numerous empirical illustrations.

    For instance, the financial sector contributed massively to the growth of billionaire's wealth.

    One of the most visible consequences of this growth of financial markets triggered by monetary expansion is asset price inflation.

    In a completely sound money system where credit only depends on the amount of saving rather than on fiduciary credit, there is very little room for generalized and persistent asset-price inflation as the amount of funds which can be used to purchase assets is strictly limited. In other words, the phenomenon of asset-price inflation is a child of credit inflation.

    Asset price inflation predominately benefits the richest in society for several reasons.

    1. First of all, the wealthy tend to own more financial assets than the poor in proportion to income.
    2. Secondly, it is easier for the richest individuals to contract debt in order to buy shares that can be sold later at a profit. Since credit easing lowers the interest rate and therefore funding costs, the profits made by selling inflated assets bought at credit will be even greater.
    3. Finally, asset price inflation coming with the growth of financial markets will benefit those working in the financial sector. It will also benefit the CEO's of the publicly traded companies who will be paid more as the market cap of their company increases.

    Hence, the correlation between asset prices and income inequality has been, as expected, very strong.

    Despite this, many economists have failed to see asset-price inflation as a consequence of an inflated money supply.

    The conclusion is: our monetary system itself increases inequality.

    https://www.youtube.com/watch?v=rv5xl1AEeQs

    submitted by /u/financeoptimum
    [link] [comments]

    A Mere 0.08% of Crypto Transactions Are Associated with Illegal Activity, and Fiat Currency Is Used for Crime 1,000-2,500 Times More Than Crypto

    Posted: 31 Jan 2020 10:10 AM PST

    How robust is your 24 word seed backup. Is it just written on paper, in pen, in one location? Could a leak in your roof, fire or something more dramatic wipe our your entire crypto stash? Metal seed backups are great, there are an increasing number of options, but they aren't all created equal.

    Posted: 01 Feb 2020 04:13 AM PST

    Ethereum Miners are Accumulating at Unprecedented Levels - Santiment Community Insights

    Posted: 31 Jan 2020 12:01 PM PST

    Zap Launches Strike, An Instant Fiat to Lightning Payment App.

    Posted: 31 Jan 2020 03:22 PM PST

    Margaret Thatcher on the importance of decentralization of power 1986

    Posted: 31 Jan 2020 01:14 PM PST

    For 10 months I have been maintaining the Java BCH library, bitcoincashj. Here's what has changed!

    Posted: 01 Feb 2020 04:27 AM PST

    BCH miner donation plan update

    Posted: 01 Feb 2020 04:18 AM PST

    Crypto Exchange Zebpay Reopens in India Despite Banking Ban

    Posted: 31 Jan 2020 09:48 PM PST

    Top 3 DeFi ways to loan out/gain interest on your cryptos?

    Posted: 31 Jan 2020 11:28 PM PST

    Loaning crypto out and gaining interests in return is becoming more and more popular. I am new to this DeFi Topic and would like to ask what are the top 3 (interest rate, security etc.) providers/plattforms/networks for loaning out ETH? What to look out for?

    submitted by /u/gforsi
    [link] [comments]

    What are Tokensets? Automated Crypto management Strategies as an ERC20 Token - DeFi Project that helps you protect your Crypto during Bear markets and benefit during a Bull run

    Posted: 01 Feb 2020 01:47 AM PST

    Binance CEO recently suggested that Brave could mimic TikTok’s success will over 5.5 billion user hours in India alone. Internet has developed over 25 years which is now thriving on the ads and could storage model.

    Posted: 01 Feb 2020 01:40 AM PST

    Hierarchies of Money: Why You Use Bank Money But the Bank Wants Reserve Currency. Modern fiat money is not backed by a commodity, but can be created at will by governments.

    Posted: 31 Jan 2020 06:01 PM PST

    The HNSPool.com waiting list is now up. Be one of the first to mine Handshake starting February 3rd

    Posted: 01 Feb 2020 12:45 AM PST

    Lawyers Ramp Up Pressure to Exhune Quadriga CEO’s Body - CoinDesk

    Posted: 31 Jan 2020 03:54 AM PST

    Few Banks Will Touch Crypto Firms, but Silvergate Wants to Touch Bitcoin Itself

    Posted: 31 Jan 2020 08:59 AM PST

    A comparison of 8 top altcoin exchanges - which is your favourite

    Posted: 01 Feb 2020 01:34 AM PST

    (Small) List of merchants that accept Ethereum (ETH) - have you spent any Ether yet?

    Posted: 31 Jan 2020 10:49 AM PST

    Bitcoin Startup Casa Names New CEO as Node Service Goes Open-Source

    Posted: 31 Jan 2020 08:59 AM PST

    Bitcoin: Primary logarithmic regression band

    Posted: 31 Jan 2020 08:55 AM PST
    Read more
    at

    No comments:

    Post a Comment