Jommi

this isn't the case in northern Europe at all.

First of all you get around 1kish a month no questions asked, more if you have bills etc. you can prove you need to pay

and if you opted into "unemployment insurance" while employed, you'd be getting 60-80% of your salary for the next 12 months

this insurance costs around 100e a year to opt into

You can look into the health benefits of annual checkups, there's a bunch of research showing that it's pretty much useless before say 50-60yo

you should always assume this, otherwise you just sign yourself up to play a losing game for the rest of your life

FYI the above is american-focused healthcare language. There are no annual checkups in most other countries outside of certain age or risk groups.

You might however get a health checkup from occupational healthcare sometimes!

Just putting this a note here for non-american readers so they don't get confused.

>Our role models aren't supposed to be relatable, they're supposed to be better than us.

What in the bizarro world?? Go read some research regarding role models and see just how wrong you are. The whole point in effectiveness of role models IS relatability. https://scholar.google.com/scholar?hl=en&as_sdt=0%2C5&q=role...

"Index funds are a sure way to get stock-like returns with low volatility!"

When cost of credit < index fund return, it just makes sense to borrow and invest in those until the gap is smaller

What makes you think you own money on your bank account?

-Probability of Tether ever collapsing is incredibly low-

Tether has nearly $50b of cash or cash equivalents.

Tether charges 0.1% on redemptions, and min size is 100k.

It would take $50b + $50M in redemptions before we find out if this "hole" exists or not.

-Commercial Paper backing Tether-

https://tether.to/en/transparency/#reports Currently Tether states their commercial paper exposure to be 0.07% That doesnt seem to be any significant amount.

Now you can complain that there has not been an audit. That's fair. There could be a hole. But most of the stuff you are saying makes no sense, and if there is a hole we will probably never know.

this should be enough to discount nearly all of this FUD - a bunch of errors in the OP...

rereead the article

its 40% of Tether issued on Tron

and you have to understand that Alameda was one of the licensced brokers of USDT. Institutions could mint USDT from Tether via Alameda by using dollars. This is not a loan. Its a 1:1 conversion.

in which part of this discussion has anyone talked about something decentralized? This is about two centralized exchanges that hold custody of users cryptoassets

you're confusing web3 with crypto here. This is a very common mistake.

There is no centralized "owner". You can become part of the network just like anyone else. No single party can do anything you describe.

You also seem to being centralized exchanges to the discussion - they have no relevance here. Trading can be done in a decentralized fashion as well.

you can trade crypto you own, all the while keeping ownership of that crypto

look into decentralized finance and you will be amazed

I know your situation.

Read "Non Violent Communication" it will help utilize logic to change how you talk to a more empathetic way.

And don't just read it - keep t he book by your side always.

Even IRL, trading platforms usually offer no guarantee of any kind of reversibility outside of specific agreements.

You should look into how DEXes and AMM architecture works, it will blow your mind

Classic mistake of conflating marketing with advertising

the first sentence is a terrible take unfortunately, prius one of the most popular taxi and ridehailing cars ever, it's sully arund >50% of car supply in most western cities.

As usual, you are conflsting your singular consumer experience of Uber with the global business giant Uber.

token farming from tokens that are given as incentives for using different dApps. These incentive tokens have value because of the speculative nature of the human brain.

You're spreading misinformation here. Decentrlization is not binary, it's scalar.

Terra paused IBC bridging capabilities. This action has specific validators needed to execute it.

It also did not stop you from trading UST away, on the terra Blockchain itself.

cross border multi currency accounts and transfers

A country that _Doesnt_ want to more capital flowing into their companies? Sounds pretty weird no?

this works for c2c transfers but not for businesses, business payments, trading, lending other derivative products etc.

What if we put data servers in space?

Okay I think I see what you're saying better now - you're talking about the long term if such thing happens while I was purely thinking "in the moment".

Sorry for the tone, internet discussion can sometimes spin off quite fast just because its a pseudonymous environment. Have a great day!

Not sure where the idea that "hubris" is what causes these bugs that result in loss of funds. Sounds like a very subjective take.

Yes, it's costly to build an anti-fragile system. This is not a surprise to anyone.

Our current monetary system is not anti-fragile. We saw it in 2008. Because of these regulation safeguards you mention, moral hazard appeared and true safety has never been achieved.

Now to be clear, I am not saying this is the only way to build a monetary system. It's just one way.

>often the money is gone to North Korea. another flavored, subjective take. You link to one such case.

You are using multiple logical fallacies in your comment, I would re-evaluate what you actually want to discuss/learn and then respond accordingly. Currently it just seems like you are angry at something.

Could be. Although USDC to JEUR is using chainlink feeds (which is aggregated data), but they do advertise 0 slippage.

: D

Being an economist does not mean you automatically know how Circle (a payments company based in the US) issues the ERC-20 token that is called "USDC", or how the redemptions for that work.

You can read about it here: https://www.circle.com/en/usdc and here https://www.centre.io/usdc

You can see centralized and decentralized exchanges with USDC liquidity here: https://www.coingecko.com/en/coins/usd-coin#markets

I don't think you understand how USDC's redempetion works. It's not a website accessible by anyone open for redemptions 24/7. Read on that first before discussing this topic please.

You have it slightly wrong - I guess that's why you think it's a ponzi.

In Churning you're not paying anyone or forcing any to open up bank accounts to get the sign up bonus.

You're signing up to bank accounts and credits cards yourself, getting the bonus, and then leaving the service onto the next one. --- In Crypto, you "sign up to the service" which can mean a whole variety of things. For example for an AMM it could mean providing liquidity on the USDC - USDT pair. As a marketing incentive, you start getting a "bonus" that is in the project's own token.

Every time you earn some of that token, you take it and sell it on the open market for more USD. There are actually even "auto-compounders" that do this for you.

This is yield farming.

-- The point here is that in both cases you take something that is meant to be a marketing incentive, and make it into cashflow for yourself.