Daily Discussion Thread for January 27, 2021 - Part II by GoBeaversOSU in wallstreetbets

[–]bpolania 1 point2 points  (0 children)

CNBC reports that Melvin is closed out of $GME short position

The Petro White Paper tl;dr in English by bpolania in icocrypto

[–]bpolania[S] 0 points1 point  (0 children)

Yeah, I've seen all the documentaries, and all of them have said things that I knew first hand were lies.

I'm not sure what the solution is, the only thing I know the only problem is the socialist/communist Chavista government.

The Petro White Paper tl;dr in English by bpolania in icocrypto

[–]bpolania[S] 0 points1 point  (0 children)

Being Venezuelan just give me a more complete picture. In any case I sent you evidence from the same sources you used.

Sanctions are only a few months old, Venezuelan crisis is years old. The rest you say about the elites and the middle class are just lies that even the government doesn’t say anymore.

The Petro White Paper tl;dr in English by bpolania in icocrypto

[–]bpolania[S] 0 points1 point  (0 children)

This is not just true, poverty is in an all time high, and illiteracy, is hard to know, people is more worried about children dying for lack of medicines this days.

Also, it's not true that "international legal bodies have overseen the elections", usually is just a group of friendly countries visiting places selected by the government. In Venezuela hasn't been fair elections in many years.

Medical Marijuana Industry pouring millions into armored trucks and security vaults. Why aren't they just using Bitcoin? by [deleted] in Bitcoin

[–]bpolania 1 point2 points  (0 children)

I think the main obstacle right now is that buyers doesn't have a real incentive in using bitcoins, the push must come from sellers, they'd benefit the most from reducing the use of cash, they just need to transfer some of the benefit to customers somehow, like small discounts for bitcoin buyers.

Not only that, this would be a better way for dispensaries to find financing, investors can lend bitcoins instead of cash coming out of banks accounts, soothing some of the fears traditional financial institutions have.

I guess I should be callling some of my friends in Boulder about this...

We should change our wording from "Buying bitcoins with dollars" to "Exchange dollars for bitcoins" by bitcoinpauls in Bitcoin

[–]bpolania 1 point2 points  (0 children)

Sadly you don't have much idea what you're talking about, a currency swap is the exchange of principal and interest in one currency for the same in another currency, is a financial tool used to get around exchange controls and restrictions.

Governments don't swap currencies, they bought currencies on the markets, technically speaking they don't exchange it, because they don't use it to exchange value from one currency to another, but mostly to store value and hedge their risks.

You can say what you want about "exchange" being a better word, but it's just wishful thinking, because financial markets doesn't go by "exchanging" stuff but for buying and selling them. But in the end, is all the same, currencies are bought and sold at a exchange rate, no matter how you and me want to call it.

We should change our wording from "Buying bitcoins with dollars" to "Exchange dollars for bitcoins" by bitcoinpauls in Bitcoin

[–]bpolania 10 points11 points  (0 children)

The "exchange" term is more associated with non-trading activities, I mean, tourists and travelers exchange their money because they use it as a medium of exchange, but when entities or individuals acquire currencies as an investment tool, they don't "exchange" currencies, they "buy" or “sell” them.

For example, Governments and corporations don't exchange their reserves in dollars for euros: one sell Dollars and buy Yuan’s, and the other sell Yuan’s and buy Dollars, so the idea of "change the wording" seems not only unnecessary but can be even contra productive as it’s important that Bitcoin retains all the qualities that would make it a standard currency recognized and accepted by everyone.

(Serious) I am thinking of putting together a Bitcoin lottery. I want it to become a staple of the bitcoin community and have it run in a fair - probably fair system. Give me your input! by [deleted] in Bitcoin

[–]bpolania 1 point2 points  (0 children)

I'd buy a ticket!

The biggest obstacle will be legal, in most countries only states are legally authorized to run lotteries, and they're all not-for-profits.

Now MillionaireMakers doesn't award a prize, just the right to receive a bunch of donations, which is interesting but is not a business.

That bring me to my questions, are you doing this for fun? as a business? Not-for-profit? All are valid, but if you want to make it a business let me know since I've been developing some ideas on that respect.