Have a look at the Litepay wallet description, looks good.
I have invested in OMG which is doing something similar but for also white brand wallet integration and plasma development for Ethereum.
To calculate the exchange rate for US Dollars, we typically pull the market depth from an exchange with adequate liquidity and reliable withdrawal capabilities in the USA and Eurozone. We factor “slippage” into our exchange rates, which means that the larger the value of the invoice, the lower the exchange rate. Slippage is usually only noticeable on very large invoices.
Sounds kind of dicey, almost like Tether for Bitcoin.
What they are implying is do not invest a lot of money into Litepay, because if you then want to get back into USD or another currency, you’re going to see a lot of “slippage”. Or, invest a lot of money into Litepay, but don’t expect to go back into a real currency with ease.
So, what is Litepay’s definition of “very large invoices”? When they don’t tell you, that’s not a good sign.
Founded in 2017.
I didn’t look into the details. How they deal with fiat switching is surely key.
Anyway looking forward to some of these wallets actually being used unlike bitcoin which is just an awful advertisement for crypto payments.
What does “peaking” assets mean? Got an example of a peaking asset?
Gold is up slightly as equities tank. If anything Bitcoin would be same class of asset as gold. No real instinct value.
Mostly true but not always Many stocks are not really “in favor” or lightly traded so they get largely ignored during big moves. Example: 乾杯🍻 stock! Haha
“peaking asset”: an asset that has gone up to a top, like a mountain peak.
So, if gold held up, that might be a good thing, because back in 2008 when equities blew up, everything blew up with them, including commodities.
What some people don’t realize is that a lot of gold huggers got sick of waiting for the next leg up after the peak in 2011 and just transferred their assets into Bitcoin. Look at what gold has done in last 3-4 years, nothing. So, there’s nothing really to be sold off in gold, relative to other asset classes that puked in the last few days.
After two months of playing crypto all I have come away with so far is a lack of sleep and weaker bank balance.
In my first week or two I was up millions of NTD. Hindsight is 20:20 but I was young and inexperienced then.
Harrumph
I suspect banks blocking credit card purchases had a big impact on crypto market. But who knows hey. So much going on now. Scary! I’ve lost a ton of NT$ (not crypto)
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Gold was $1,200 three-four years ago. It’s currently at $1,340.
Okay the other thing I have come away with is a lot more 'fuck the banks and 'fuck governments ’ attitude , I have definitely been infected with a variant of the bitcoin virus.
I do find it fascinating how easily I can transfer my digital assets through my accounts compared to banks.
There is something addictive about operating my wallets and 2FA authentication and nano ledger. I also got to compare the different currencies and took an immediate dislike to bitcoin due to tx cost and slow transfer . Neo wallets on the other hand are awesome and transfer can occur within a minute or so…No fees.
One can imagine how much fun a true DAG to DAG account is almost instantaneous and feeless. NANO.
ZZZZzzzz. compared to equities, cryptos, that’s like treading water.
Agree dat
NEO’s peak was like 196 (in USD), now 76. That’s a big bird dropping out of the sky
The Founding Fathers of the United States, Abe Lincoln, Andrew Jackson, Theodore Roosevelt, Woodrow Wilson, and FDR would all say fuck the Privatized Central Banks too.
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks…will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered…. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.” – Thomas Jefferson in the debate over the Re-charter of the Bank Bill (1809)
“I believe that banking institutions are more dangerous to our liberties than standing armies.” –Thomas Jefferson
“… The modern theory of the perpetuation of debt has drenched the earth with blood, and crushed its inhabitants under burdens ever accumulating.” -Thomas Jefferson
“History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments by controlling money and its issuance.” -James Madison
“If congress has the right under the Constitution to issue paper money, it was given them to use themselves, not to be delegated to individuals or corporations.” -Andrew Jackson
“The Government should create, issue, and circulate all the currency and credits needed to satisfy the spending power of the Government and the buying power of consumers. By the adoption of these principles, the taxpayers will be saved immense sums of interest. Money will cease to be master and become the servant of humanity.” -Abraham Lincoln
“Issue of currency should be lodged with the government and be protected from domination by Wall Street. We are opposed to…provisions [which] would place our currency and credit system in private hands.” – Theodore Roosevelt
Despite these warnings, Woodrow Wilson signed the 1913 Federal Reserve Act. A few years later he wrote: “I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men.” -Woodrow Wilson
Years later, reflecting on the major banks’ control in Washington, President Franklin Roosevelt paid this indirect praise to his distant predecessor President Andrew Jackson, who had “killed” the 2nd Bank of the US (an earlier type of the Federal Reserve System). After Jackson’s administration the bankers’ influence was gradually restored and increased, culminating in the passage of the Federal Reserve Act of 1913. Roosevelt knew this history.
The real truth of the matter is,as you and I know, that a financial
element in the large centers has owned the government ever since
the days of Andrew Jackson… -Franklin D. Roosevelt
(in a letter to Colonel House, dated November 21, 1933)
So where money going? Cryptos are down, wall street as well? Gold, maybe russian currency lol, just joking.
Be patient, allways buy low
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Logically you would think it would go somewhere,… 20 Trillion in debt and climbing…thanks to Private “Federal Reserve”. Honestly it was predictable that at some point governments and CB’s would attack this.
so, what did FDR do?
Beforehand, the Fed at least had independent districts, whereby if one district, say San Francisco, was having trouble, the other districts would help out. Each district had independent control over its interest rate, depending on that district’s current economy.
Then, World War II comes, and FDR “forces” the Fed to keep the rates artificially low, so the gov’t could sell war bonds. Ever since then, the separate Fed districts are no longer independent and just the lapdog for the politicians in the DC. So, FDR never helped the U.S. in terms of being controlled by a central bank; he worsened it.
Read the quote, It said he reflected back years later
Years later, reflecting on the major banks’ control in Washington, President Franklin Roosevelt paid this indirect praise to his distant predecessor President Andrew Jackson, who had “killed” the 2nd Bank of the US (an earlier type of the Federal Reserve System). After Jackson’s administration the bankers’ influence was gradually restored and increased, culminating in the passage of the Federal Reserve Act of 1913. Roosevelt knew this history.
that quote is 1933, before WW2 started. FDR did nothing but make the Fed be in control of Washington, D.C.'s interests.
It depends if you’re right about FDR forcing the Fed or if the Fed Forced FDR, Just as Lobbying and money can control Congress, but thats another topic. The amount of evidence is staggering even today. But I don’t care not really defending FDR, it was more about the problems inherent in Privatized Central Banking