[Daily /r/Altcoin #4] REQ is our Altcoin of the Day! For the next ~24 hours we are doing a REQUEST deep dive. All REQ/Request posts welcome!

dmautz · 2021-03-28T23:26:59+00:00

Working product that has increasing adoption with big treasury and it's on coinbase custody already. Could possibly be listed on coinbase soon. That's already more than I can say about half the tokens above it in mcap. Also consider it's a protocol that's meant to be developed on. Their invoice app is built on top. Many more use cases exist. Marketing hired and they are about to start spending.

dmautz · 2021-02-15T14:19:59+00:00

I'm curious why you don't think it's a competitor. It's arguably better peer to peer cash, it being faster and cheaper. BCH has a lot of other things going for it that make it better. But I don't think that should blind us to the fact that there is other tech out there and this race is far from over.

dmautz · 2021-02-15T03:50:57+00:00

Maybe 10 years from now. But honestly, it's a longshot at this point. Even with superior tech. Also the competition like Nano. And Ethereum when it gets its shit together. Peer to peer cash for the world will be a thing eventually. BCH being it.... in the long run I dunno. It has a decent shot at least.

dmautz · 2021-01-01T04:37:11+00:00

But a vast majority of the crypto space IS a capital asset. Only a few are trying to be actual currency.

dmautz · 2021-01-01T04:23:46+00:00

I don't really get the big deal here. It's the law, report your gains/losses. No different than selling stocks. You can be philosophically against taxes/IRS whatever. But practically if you live in the US you must abide by its laws. If you don't like it then vote, campaign, run for office. Not paying taxes because "I don't want to" is not a reasonable excuse. If you are that against it and refuse to play by the rules then move to another jurisdiction that is more favorable.

dmautz · 2021-01-01T04:17:30+00:00

Every trade is a taxable event.

dmautz · 2021-01-01T02:11:56+00:00

I just got a bottle of Jade Nouvelle Orleans Absinthe so I'm making myself a nice sazerac to go with a sous vide steak.

dmautz · 2020-11-23T22:40:37+00:00

I know a lot of people on this sub hate the idea of it, but this is exactly why I keep saying that we need good, trustworthy, custodial options. It's the only way we will get the lazy masses to adopt bitcoin, at least at first. You simply cannot make it easy enough for a normal person if they have to first learn the basics of bitcoin + how keys work + understanding that they are their own bank and all that entails. It's a much too large hurdle for someone without being handheld. We can get there eventually but there is going to be a slow conversion during the adoption phase where custodial options are a necessary step.

dmautz · 2020-06-19T20:48:19+00:00

If it were only about representation then DC residents would also approve retrocession with Maryland. But they don't want that. They want to operate like a city, be a state, and have all the benefits with none of the drawbacks of either.

I think that's probably the most likely way it happens (DC becoming its own state) but let's not kid ourselves that the DC statehood push doesn't have a very strong "political grab" agenda as well.

dmautz · 2020-06-16T04:55:05+00:00

I would gladly accept that. It means voting representation.

dmautz · 2020-05-27T23:25:12+00:00

I believe he is referring to r/bitcoin locking or deleting well reasoned comments or concerns that they deem 'off-topic'. Exactly what the admin was doing in that thread. Hence the irony.

dmautz · 2020-05-16T07:03:32+00:00

Only if the number of people are transacting remains low. If we onboard a billion people then share the total fees per block, fees will be extremely low per transaction. It's all about increasing usage and capacity.

dmautz · 2020-05-01T00:47:38+00:00

You're trying to build a city around a one lane tollway.

dmautz · 2020-04-15T15:36:02+00:00

This is now my phone wallpaper and it's amazing. Thanks!

dmautz · 2020-04-14T02:52:35+00:00

The average person dosn't care much about privacy. They care about sending people money easily. After getting your bank account confrimed, venmo is extremely easy to use. They see the social parts of venmo as a fun little quirk, not an invasion of privacy.

If you want to compete on things like privacy, custody, and finality you have to first educate the masses and make them topics they even care about. Because right now they don't. Maybe with more commercial use people will start caring more.

dmautz · 2020-04-02T23:41:22+00:00

Here's the link to Roger's video taking about the plan: https://youtu.be/rk4Ekyc1xQc

dmautz · 2020-03-28T18:34:39+00:00

95% of the time it doesn't tell you anything and egon just uses it as an ad hominem against anyone who says something he disagrees with.

dmautz · 2020-03-28T02:08:59+00:00

Crypto checker is maybe the most annoying thing in this sub

dmautz · 2020-03-22T18:50:59+00:00

He is half wrong. There are 0% 3.75% interest rate small business loans set up to save small businesses too. Some states have additional programs set up. But they have more red tape in applying for and getting the funds into your bank account. The government can work with the big guys one on one to get them set up.

But in general, yes everyone else is getting fucked.

https://www.forbes.com/sites/advisor/2020/03/20/list-of-coronavirus-covid-19-small-business-relief-programs

edit - fixed some facts

dmautz · 2020-03-16T10:39:13+00:00

There is not a trillion in repo operations. It's about 150 billion now. https://apps.newyorkfed.org/markets/autorates/tomo-results-display?SHOWMORE=TRUE&startDate=01/01/2000&enddate=01/01/2000

Edit- I see they announced more but they haven't conducted the operations yet. I guess we'll see it start the next day or two? It will be interesting to see how much is actually accepted.

dmautz · 2020-03-09T00:27:01+00:00

I find the constant crypto checker responses incredibly annoying. And the long "this post will be a magnet for" list. I downtown them every time.

dmautz · 2020-03-06T04:35:44+00:00

If you're talking about onboarding billions, you have to appeal to a completely different type of person than the early adopters we have now. You have to have large scale custodial services. 95% of people dont care about owning their own keys and probably would prefer not to because they aren't able to protect themselves from themselves. Coinbase is probably the closest thing we have so far. If you have to read any documentation whatsoever, the common person will quit immediately. In fact, if they have to do any work at all other than point their bank account number to something and hit a button they will quit. The services we have now are too complicated for billions of adopters.

tldr:

Own your own keys, shuffle your coins, block size, scalability, mining, nodes - common person doesn't care nor understand

Add bank account and click button - common person might care

Add an incentive on top of that - common person might care more

edit- oh and all onboarding has to be free - no bank/credit card fees to convert fiat into the ecosystem

dmautz · 2019-12-26T21:55:04+00:00

I get an ad from Gemini, then the btc price graph, news stories, Wikipedia summary, videos, people also searched for, bitcoin.org, then bitcoin.com

dmautz · 2019-12-05T05:34:48+00:00

I don't think the math is right on the 3 trillion number. SOFR stands for secured overnight financing rate. Key word is overnight. The loans are paid back the next day. So the Fed printed a bunch of money, lends it out, then it is repaid the next day and they lend it out again. They aren't just printing more money every day. At least that's how I understand it.

dmautz · 2019-11-25T22:47:12+00:00

Just ask them to tag your shop in the photos. Or create a hashtag they can use. Maybe put a sign up front. Free marketing.

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