Typing this feels like ripping open a wound that’s still bleeding. But I’m posting it because this space needs more honesty. You see the wins, the 100x calls, the yachts, but you rarely see what… https://t.co/QzjtHKjsZGpic.twitter.com/xLKOF7LlPF
Brutal. However, knowing there are people out there like this gives me hope too. There will always be opportunities for wise men as long as there are foolish gamblers out there like this. Human nature just does not change.
Maybe I am missing something. I never lived in the world of $500 million wire transfers that Eric Trump referenced, perhaps a $1 million when I was in the business was $150. I would imagine the volatility of Bitcoin would make regular transfer prohibitive.
Maybe I am missing something. I never lived in the world of $500 million wire transfers that Eric Trump referenced, perhaps a $1 million when I was in the business was $150. I would imagine the volatility of Bitcoin would make regular transfer prohibitive.
It appears that there are no limits on the bitcoin network as to size of wire transfers, it can handle any size. Remember, a wire transfer is not creating new coins, it is just moving existing ones. And that would involve recording the transfer on a digital ledger that happens automatically on "a public ledger".
That said, the instititutions on which the transfer is conducted, like a bank and/or brokerage/exchange, likely have their own limits, and they may be a factor, depending on the institution.
Like some banks have a daily limit of $1 mil/day or $10 mill/month, for example.
There is no cost to use the network to do wire transfers, though the institutions involved may have some fee - that is dependent on their unique rules.
Private digital wallets I think avoid much of the baggage involved with individual institutions.
You can see what criminals and drug dealers would love it.
OK, seems untrustworthy to me. I had a client send money to a wrong institution in the Philippines, and the money was recovered. Who do you call? Some Japanese fake name guy?
This post was edited 2 minutes after it was posted.
I can understand that, though some vehicles for using it are more trustworthy than others. Some exchanges are really top notch. You can hold some on Paypal, for example. And the CA based Coinbase is very good, too.
A personal digital wallet is prefered by many, but that comes with its own risks.
Nowadays, if it's just the investment perspective that draws somebody, they can just buy one of the crypto ETFs available on the Nasdaq stock exchange, tradable through your brokerage account, and that avoids the need to actually be in possession of actual crypto coinage. That is super simple and carries a lot of safeguards, and is now widely available. But of course, this doesn't allow for transfers of cash like Trump Jr and we were originally talking about.
I keep hearing that there’s massive excess demand for AI compute. Yes, that’s true, just like there would be massive excess demand for cars and homes if cars and homes were free. According to none other than ChatGPT, it costs OpenAI up to $60 to produce a high-quality 30 second… pic.twitter.com/I8BZlT7huf
🦔Meta is hiding $30 billion in AI infrastructure debt off its balance sheet using special purpose vehicles, echoing the financial engineering that triggered Enron's collapse and the 2008 mortgage crisis. Morgan Stanley estimates tech firms will need $800 billion from private… pic.twitter.com/9uMcW4zv36
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