Coinbase Visa same as a credit card or debit card. spend crypto or US dollars, either spend your money in cash or crypto with no transaction fees. 4% rewards are given back to you in crypto of your choice. spend anywhere use your card anywhere Visa® debit cards are accepted.
Depends if you have stables in your account. No stables to settle, then market order to convert crypto to stable, then a debit transaction
How does that work. Do you choose crypto (which crypto?) or dollars at purchase time. No fees but what about bid ask spread? When is conversion done to fiat? (time of purchase or EOD?)
How many different crypto would you have in an account? Who chooses which one you spend? My fiat debit card allows me to tap and the money is moved from my account to the merchants. The card charges the merchant a fee. What happens with a crypto card?
Shoot. I should have added Tether FUD to concerns I don't think are very legit. We have spoken about this many times - let's agree to disagree. My 2 second viewpoint is that Tether is at best shady and at worst toxic, but if it is there are many other stable coins for people to use. Investors would just move to those other stable coins if shit hits the fan with Tehter. Tether is used now heavily now bc of inertia IMO, that can chagne very fast. After all, stable coins are money market funds. Do you care which MMKT fun you use when you are in cash in your brokerage account? Of course you dont. But Ill gladly push back on "the answer is simpler - greed and FOMO". Do you really believe that is all that is going on here? Do you think the answer is this clean? Very smart people are in the space, BTC settled more $$$ than Visa network last year, and the BTC network itself went from a $0 white paper to a 800BB asset in 12 years! And oh yea, it did it with no CEO, board etc and nobody controls it or can shut it off. Do you think there is really nothing there?
actually USDT is used as a resting place in between trades from cryptos which are not a direct swap. the crypto community "which btw will be everyone, including you" is working on several projects which will facilitate direct swap from crypto asset to crypto asset without using USDT. so that explains why you see some volume in USDT it's merely a fraction of the total Crypto market cap is once again above $2 trillion
you have a wallet for spending its not taken out of your trades - think of trading the sp and they hit your account for data fees or commissions. coinbase charges no fees lol at all them days are gone with dinosaur banks.
I love this thread. Thanks for starting it "Cognitive dissonance" still trying to understand this phrase. ESL for me and when I try to convert to my native language, best I can come up with is a popular saying "Can't wake up someone who's pretending to be asleep" ------------------------------ https://www.elitetrader.com/et/threads/goldman-sachs-jpmorgan-quants-keep-leaving-for-crypto.365941/ https://www.elitetrader.com/et/thre...nd-other-large-companies.363646/#post-5509757
Well, if you understand why blockchain will (is supposed) change the world then you're halfway there with regards to understanding the narrative: In simple terms, a blockchain is a decentralized ledger where transactions are verified by a whole bunch of people. These people don't work for free, so you have to pay them. So if you want to use a specific blockchain, you need to buy its token and for each transaction you have to pay a fee in tokens to the people who verify transactions. The more people are using a specific blockchain, the more demand there is for its token. If you take Bitcoin as an example you need to purchase Bitcoin in order to use the Bitcoin blockchain to transact. You pay the miners (who verify the transaction) a fraction of your transaction as a fee. So if you want to establish a fair value, you take the production price (aka the amount of electricity it takes to mine one block x times price per kwh) and compare it to the amount of transaction fees you can generate with it times price (the cashflow you were looking for). So if you look at crypto from this angle (how much cashflow does a blockchain generate vs. how much effort/risk there is associated with it), these protocolls are actually easier to evaluate than all those bullshit US-GAAP balance sheets of equities...and the numbers are public, out there for everyone to see without any delay/gatekeepers
Much like BTC obituaries; BTC still going to zero after each obituary was disproven in fact. https://en.wikipedia.org/wiki/Cognitive_dissonance