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    [Daily Discussion] - Thursday, June 24, 2021 Bitcoin Markets

    June 24, 2021

    [Daily Discussion] - Thursday, June 24, 2021 Bitcoin Markets

    [Daily Discussion] - Thursday, June 24, 2021

    Posted: 23 Jun 2021 09:00 PM PDT

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    submitted by /u/AutoModerator
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    Looking for feedback - our combined orderbook site

    Posted: 24 Jun 2021 04:02 AM PDT

    A friend and I posted here a few months ago when we made a website showing live combined order books from the major crypto exchanges. After feedback from you guys we're wondering if a) this is useful and b) if there is anything else you guys would like to see?

    Our site is coinlobster.com - we've added:

    - Grouping orders by different price increments so you can easily see live buy/sell walls
    - Live liquidations and trades
    - A discord server (https://discord.com/invite/zFMVVBXegk) where you can get live notifications of large trades/large liquidations in the market
    - A defi feed showing most popular uniswap tokens bought recently
    - 24 hour funding rates/liquidations/trades (currently only for Bitmex)

    submitted by /u/hhharry
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    China's recent actions may be an even bigger threat to Bitcoin than they appear

    Posted: 24 Jun 2021 02:07 AM PDT

    If we look at Bitcoin's utility - which, in the end has to be there to justify any other form of value (just like gold) - it remains the ability to send money globally without 3rd party interference.

    If you check the Bitcoin wallet creation stats over the past months Nigeria and other developing countries dominate. Why? Because until now businesses there had to have a foreign partner in a monetarily stable jurisdiction who have dollar accounts in order to buy products (largely) from China to make their economies function.

    Now, they go to local Bureaux de Change, buy Bitcoin and pay instantly with it.

    It's been a game changer for such businesses. I contend that China sees an opportunity here: it can

    1. stop Chinese producers accepting Bitcoin (happening)
    2. tell them they must instead require payment in DCEP
    3. thereby enabling the easy payments they're getting used to and simultaneously supplanting the US$ for (effectively) yuan in these developing markets.

    If successful this would be a major blow to the US$, since these nations would no longer need US$ reserves.

    But also a massive blow to Bitcoin, which loses much of its fundamental utility in this scenario. Let's see how it plays out.

    submitted by /u/tradrich
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