Here is the post for the Daily Leo Talk. In preparation for the upcoming Microblogging features, this is a good place to start conversations, posts charts, memes, trades, or anything else that comes to mind.
Let us boost our overall numbers by posting lots of comments throughout the day. Spread the word to get others involved.
It is a great way to stimulate engagement.
We can think of this as a Reddit type engagement thread. We are not dealing with long form content so topics of discussion can start off with a top line comment. We can fill in from there.
We are open 24/7/365.
Stay Informed About LEO!
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Posted Using LeoFinance Beta
The first Polycub emission rate has declined for the first time.
We are now down to 4 POLYCUB per block, from the 5 before.
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I watched your video with Khal last night. Is there any way of us knowing how much is in the PoL? Or will that stay behind the scenes? Will we ever see how much it is generating hourly? daily? whatever?
Also, could you ask Khal to address why anyone would want to buy this a year from now? Do we have any clue as to what the APYs on the farms and kingdoms will look like?
Listening to you guys talk, I'm sold on the viability of the xPolyCUB and the price support. I would just like the previous questions addressed before I make a decision on whether to start adding while it's down.
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Pretty much where I'm at too.
@taskmaster4450le, I'd second the call to make the answers to these questions more clear.
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Hi everyone, any thoughts on Thorchain adding synthetic assets this week? or more broadly any thoughts on Thorchain?
Thorchain did say that synthetics cannot be more than 1/3 of the pool, that is the max. I think I will just stick with the native assets myself but I will continue to research the possible benefits.
I checked out the different options for connecting to Thorchain and it is by far the most I have ever seen. It looks like they can even generate a password-encrypted multi-coin wallet for you with a few clicks if you dont want to use a browser wallet (as not all of the options are from trustworthy sources, some are closed source, or corporate-owned). Also looks to support Ledger hardware wallets, hopefully it can implement Coldcard wallet somehow in the future, not sure if this is possible but would be awesome.
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I havent looked into it but I think synthetic assets are an amazing idea. It will really lead to the day when we see decentralization take over. The question is how decentralized is it.
These are certainly securities by the legal definition. However, if out of the reach of the regulators, then it is good to go. I just dont know enough about Thorchain to comment on that. I hope it is decentralized to the point where it can be out of the scope of regulation.
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Yes the beauty of the Thorchain is that both native assets and synthetics of the same coins are all available on the same platform.
Regarding regulation and staying out of reach, the Thorchain team has taken great effort to stay anonymous from what I can tell, which is important, as once the devs are doxxed it creates a critical point of failure since the regulators can go after them. They do want to turn over control of the project to the community and burn the admin keys eventually, but I do not know the timeline for that.
I am using ThorChain as of this week and it is fantastic! But I do have 2 concerns: The bond needed to run a node is way too high, it is millions of dollars at current prices, which limits decentralization greatly. And the other worry is that in late 2023 they plan to have some kind of debit card deal, seems like a bad idea to me, and could easily reveal their identities if they are not careful. Haven Protocol plans to do this eventually too, and I feel the same way about them as a privacy coin ecosystem. Most of the appeal of these projects is the anonymity and freedom, seems like that only puts those things at risk.
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So exciting to see THORChain going from strength to strength behind the scenes.
Probably the most strategically important project, not only in crypto, but all of finance.
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The DXY is pushing 100.
We are seeing the liquidity crisis in the USD beginning to emerge.
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I have been out of the loop in regards to the traditional financial markets but just started reading about some of the troubles they are having. I heard about the nickel price surge on a major metals exchange where it got so out of hand they halted trading and actually shit down the exchange for a few days! Crazy.
About the USD liquidity crisis you mentioned, what kind of effects do you think that will have? Most of my knowledge is in crypto markets, I am not particularly well versed on macro economics and the effects the money supply has. Well, other than the obvious like trillions of dollars being printed not being good, ha ha.
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This is a misnomer. Trillions of dollars was not printed. Few understand what the Fed does and how money is created.
USD (the money supply) expands when lending takes place. It is the commercial banks that create the USD, not the Fed. Their QE to infinity programs only print up bank instruments that go on the balance sheet of depositing banks. This is non legal tender and is housed at the Fed. Hence the banks can use it at all other than to keep it there and earn interest.
That is why there is a USD shortage (liquidity crisis). Banks havent been lending to keep pace.
As for the impact, it makes anyone with USD denominated debt (most of the world) have to pay more. So countries will have to sell their treasuries (an asset) to get USD. Also, companies will have to use more of their native currency to get the USD to make the payments. This affects the developing countries first but then spreads.
Also, this tends to make all commodities more expensive, in the native currencies, since they are all prices in USD (as if the supply chain issues werent doing enough of a number on that).
Finally, it makes exports to the US more attractive but hurts all imports. While this is good (the exports) if the economy is slowing, that makes the counter balance not enough to make up for the increase in imports.
Of course, the liquidity issue is one of the reasons for the slowing of global growth. Without enough money, economies cannot expand.
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Thank you for the detailed explanation. Yes getting a loan in USD abroad seems like a bad idea if you are living somewhere that loses vs the USD! Same reason why you dont wanna owe in BTC!
Well, more broadly, I have often thought about banks creating inflation more broadly, as when you bring the bank a physical dollar and deposit it, the physical dollar is in one of their vaults, and it then a 2nd credited to your account as a digital dollar, AND they lend out a large fraction of the same dollar, if my understanding is correct. But I do not have a detailed understanding of the banking system or the Fed.
But are you basically saying that the strengthening of the dollar causes more of other foreign currency to be tied up due to the need of saving a higher % of income to repay debts, and that is what is causing problems, or am I misunderstanding?
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REMINDER!!!
Grab all those #CANDIEs while they still last.
Fill those jars and enjoy the sweetness in your life.
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Definitely nothing a good as picking up those free candies on daily basis
I just got my first Listnerds shaky shaky.
Was worth 5 LISTNERDS tokens.
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Legendary ✌️ I am yet to see a shaky shaky on my Listerneds. Which color you got?
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How long have we talked about Reed's Law. While Raoul Pal kept harping upon Metcalfe's Law, which dealt with landline communication systems, I was harping upon Reed.
Pal finally mentioned it in a video. Took him long enough to clue in.
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