We definitely saw more crypto transaction flows going in to these regions following the current situation. But one challenge to greater adoption is the off-ramping from crypto back to fiat currencies which is largely done online by centralized exchanges such as Coinbase and Binance.
Best case is if you keep all transactions in crypto, which can then be entirely managed P2P. Compromise case is P2P trading for fiat money, which may impact your rates but is better than nothing. Otherwise, you're at the mercy of the centralized exchanges that are in turn limited by compliance and regulatory considerations.
Unless the entire world suddenly decides to adopt crypto (unlikely), the fiat component will be a major challenge for greater usage.
> But one challenge to greater adoption is the off-ramping from crypto back to fiat currencies which is largely done online by centralized exchanges such as Coinbase and Binance.
Maybe until people stop to off-ramp, because it has been made such a pain by regulation, and just pay directly with their crypto.
So at Quidli we work on enabling orgs to internally share crypto with their members as incentives using existing workflows like via web browser and Slack - online teams and communities can use crypto as digital rewards with real value to encourage participation and engagement in their objectives, missions.
We've seen solid adoption on the Slack app and so we've now pushed to prod this v1 of a Discord app. It's not yet open-source or fully on-chain, but we make it free and it offers a friendlier onboarding experience to crypto for newbies.
Super happy to answer any questions or take feedback/comments on this from the community here. Thanks!
Same thinking. In any case, you will need a lawyer to advise and represent you, and just you. These guys sound like thugs so good thing you haven't gone into business with them.
After the 2017-18 craze, I don't know if HODLers have gained anything on stock market. It has almost followed the broad stock market movement these days.
Look at the covid crash in March, coins like BTC also dipped and peformed worse than indexes like Nasdaq while traditional currency hedge gold rose in value when both of them were crashing.
Really depends when you bought. Using today's date..
1 Yr Holders
ETH +120%
BTC +51%
SP500 +12%
2 Yr Holders
ETH +87.5%
BTC +92%
SP500 +24%
It's probably not fair to go back 5 years as ETH is up over 62,000% which make the other 2 look like a straight line & it would be past the date of your argument.
Here's a Yahoo URL that should allow you to compare different items though.
Sure, individual coins could have better movement but I would like to track it on a whole, as individual stocks also have better movement than the index. Is there a composite index for the coins at least say the Top 100?
I picked BTC as by volume and market cap, as that's the biggest out of those, about 5-6x of the second biggest in market cap. In the same URL you shared I compared Nasdaq with BTC and both seem to be correlated in the last 1 year. In the last 2 years, Nasdaq seems to have the lead for a while but the end returns seem to be the same.
Yeah the last year or so btc has become correlated with the markets, so it's no longer a haven from shocks as previously thought. Covid has changed the landscape through the summer though, and the role of bonds as a safe place to weather the storm is questionable at the moment and people are increasingly resentful with the roles and ineffectiveness of central banks, so I've been hearing way more noise about cryptocurrencies as a store of value than before.
The stock 2 flow model predicts btc to reach $1 mill in 2025. I'm curious if this becomes true.
Gold dipped slightly and rose fast, nothing compared to what happened to say BTC or the big indices. Gold dipped by 10% from its peak when lowest, BTC by 50%
If I had bought gold and btc at their covid lowest I'd be up 30% with gold, and up 160% with btc. That's some serious performance. Some stocks went up like crazy though, for comparison:
I doubt most consider gold to be a worthy long term investment for pure returns as there are products that have performed better than that.
It is extremely good as a currency hedge though. BTC was also touted on the same lines with assumptions like finite supply etc being thrown around. Sure, it bounced back when liquidity returned and now has more returns but that extreme volatility and liquidity crunch period saw BTC fizzling out while gold held up decently well.
Best case is if you keep all transactions in crypto, which can then be entirely managed P2P. Compromise case is P2P trading for fiat money, which may impact your rates but is better than nothing. Otherwise, you're at the mercy of the centralized exchanges that are in turn limited by compliance and regulatory considerations.
Unless the entire world suddenly decides to adopt crypto (unlikely), the fiat component will be a major challenge for greater usage.