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How does blockchain help us with infrastructure repairs?
Several ways. Programable money is much easier to track for fraud or mismanagement so we don't have an issue like the Big Dig in Boston. If millions are flowing into the Mayors brother in laws company, it will be much easier to see and track.
We now have bitcoin backed loans, so much for being worthless.
Quote:
Post Oak Motor Cars (POMC) and crypto custody firm NYDIG recently announced a partnership that enables the Houston-based auto dealer to sell vehicles through Bitcoin-backed loans.
That's nothing new, there has been BTC backed loans for awhile a different rates. What will change the finance industry eventually is the DEFI projects. That's what the SEC is investigating right now because the entire banking industry is lobbying hard to prevent it from taking over.
In the future if DEFI doesn't get stopped then it disrupt the subprime to traditional loan offered by the banks that charges outrageous fees.
Think of most loans are backed by 25% with origination fees that makes zero sense. If you have bitcoin you can use that as a collateral towards a loan and pay no taxes on the use of the money rather than sell your bitcoin and pay taxes on the conversion.
Think of most loans are backed by 25% with origination fees that makes zero sense. If you have bitcoin you can use that as a collateral towards a loan and pay no taxes on the use of the money rather than sell your bitcoin and pay taxes on the conversion.
Yeah but BTC loans won't really take off until investors know what the bear market bottom is. Then the collateralized loan performance forecasting will be more reliable and accurate. They are just flying blind right now and that's probably a big part of what Gary doesn't like.
Aaron Rodgers, quarterback for the Green Bay Packers football team, has said he will be taking part of his National Football League salary in Bitcoin.
Quote:
Rodgers joins other professional sports players embracing crypto as the space becomes seemingly more mainstream. Last week, Tampa Bay Buccaneers quarterback Tom Brady said he would be compensating the fan who held his 600th career touchdown football with 1 BTC along with some signed sports memorabilia.
People especially old people don't understand that crypto has become the new framework for the future economy.
Bitcoin will replace gold and dollar. In the future companies especially big tech will invest 10% of their assets to crypto for conversion. Every global company is losing money due to foreign exchange trading everyday. With bitcoin it is far more valuable than any fiat currency.
When a company hordes cash they have to do something with it before it loses out to inflation, taxes, and foreign exchange conversions. Having bitcoin solves this problem.
Ethereum is the new digital gas, in the future everyone will need ETH to pay for gas they need to buy digital goods. It's the fee necessary for converting one crypto currency to another. When you need to take out a small loan you need ETH to pay for the defi fees of matching a decentralized borrow system.
One day, crypto especially BTC will replace gold as the world reserve and by that time the price of BTC will be $150-200k because big companies especially tech is quickly adopting BTC in the single digit % as cash.
If Apple has $200 billion in cash each quarter, they can easily spend $500 mil in bitcoin and it will appreciate as much as 4 milion iphones they sell in just 1/2 year.
Gee, the anti-BTC crowd is getting smaller everyday.
Because BTC is considered a security and IRS can't collect taxes on it directly until you sell back. And the worst thing having dollar is when the IRS wants to levy taxes on you they can easily garnish it from your bank acct. If they IRS wants to go after you for any owed taxes without any due process they can take it directly from your bank acct or stock accts. They can't touch your crypto accts. Of course the lawmakers wants to tax people as much as possible they want to limit crypto but it's too late. With $2.1 trillion already in crypto it's gonna catch up to gold eventually.
Yeah but BTC loans won't really take off until investors know what the bear market bottom is. Then the collateralized loan performance forecasting will be more reliable and accurate. They are just flying blind right now and that's probably a big part of what Gary doesn't like.
Ive been doing BTC loans since 2018.
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