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15 November 2023 at 13 h 41 min #15760dalemurdockParticipant
<br> Binance offers an incentive to pay transaction fees in BNB by offering a 50% discount in the first year of membership, decreasing every subsequent year for five years. It’s something that is widely acceptable in exchange, you can use to go shopping in lots of places, to pay off all kinds of, to pay debts that you contract debts in in the first place. And you’re going to have some that’s only a relative few that become a widely used medium of exchange, and of course, it’s possible that among all these new alternatives, these cryptos, that none of them will ever be able to gain a status such as allows it to compete with any established national monies, because those all have a substantial head start. This is, of course, a few things coming together, but I do think that the role of intermediaries, be it in the form of an exchange or some sort of payments process, or someone like that who will bear the risk, not just of fluctuations to the dollar, but payments security, reversing transactions if they’re fraudulent or false or mistaken, will have to take place for it to be more widely adopted.
It’s a new source, a new means, relatively new means, by which people can secure and protect their liberties that without which, people would be much worse off, and I think it is important to consider that it remains relatively young, and we may see further gains in the potential of perhaps Bitcoin, but also of other cryptocurrencies click here to visit Jtswebsites for free further enhance the degree to which this technology supplies a new means for preserving civil liberties and economic freedom. There’s no guarantee, but we don’t know of any asset that is widely traded that has that degree of volatility on a sort of constant basis. But that’s a very crisis-like scenario which I don’t know how much it represents the rest of the world or it will ever. So they would handle all of that and just say we will make it so you can do this and overall the net transaction fee is still going to be lower than every other credit card processor. And this is similar because there’s not only the short-term volatility of crypto, in terms of its relationship to fiat currencies in various countries, but policy in the US and many other countries right now is such that you have to record its, it’s treated like property, and so it would be a bit like using bits of housing as a medium of payment that the tax authority will say, if in the time that you’ve held this you’ve earned some in terms of dollars, you have to declare<br>t<br> tax.
And I said yes, it’s definitely happening, again. 18:35 George Selgin: Yes, I totally agree with what Diego just said. 42:14 George Selgin: Yes, the messianic adoration is attached to the actual currency itself. 01:40 George Selgin: I don’t think very much has happened at all, actually, because it remains very popular among enthusiasts and most people who deal in Bitcoin at all, they tend to be enthusiastic, and they tend to be bullish, and they have some good reason for that, despite that crash back when. 47:35 Diego Zuluaga: In general, I think libertarians like the rules approach better because we don’t believe that people running things are all-knowing, or close to it, or that they have the adequate incentives to act in terms of the social good. It would be very hard, because you have to get consensus and if there’s one thing that seems to not exist at all in the Bitcoin community, it’s consensus, to upgrade it, to say add that, or the costs of running the ledger, because of the way that the proof of work protocol requires all this computing power, which is lots of electricity, is costly and s<br>e want to…
And as we design this regulatory scheme for Bitcoin, for virtual currencies, we want to make sure we are setting rules of the road that enable innovation to continue, that allow the sort of positives, the potential really interesting future that Bitcoin can have as a way for people especially to engage in international transactions to happen and to happen efficiently. One criticism that people used to make about Bitcoin, because it has no commodity value, is that anyone could take the Bitcoin code, replicate it, and then run a new network that was exactly the same, much more cheaply, because the tokens were newly minted, and you didn’t have to buy them on the open market, so to speak. When you open a futures trading account, you can choose to trade Perpetual Futures or Quarterly Futures, with the fees charged much lower than the industry standard at 0.075% for makers <br>0.025% for takers.
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