But wait, I thought the government didn’t like Apple’s gatekeeping with the App Store. Guess it’s a case of “d**med if they do, d**med if they don’t.”
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Apple's App Store Comes Under the Spotlight for How It Handles Fake Crypto Apps
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But I thought Apple only allowed apps to be downloaded from the AppStore because it’s safe......
These crypto wallets even worse outside the store. Especially these browser plugins and sites that say ‘connect wallet’ and you connect and all your keys and magic money are gone.
In the store there is the problem that these type of businesses are uninsured and unregulated. You store assets and private details with them and they are free to close and run off.
Uninsured and unregulated finance apps should not be in a regulated and moderated store at all.
But but “Apple App Store bad! Serves no purpose other than greed!”. Huh, seems like there is a benefit after all for Apple to have a curated App Store that it vets.
Wow! A lot of crypto hate here.
Crypto apps are some of my most-frequently used apps! I have a whole folder just for them on my iPhone. Lots of CeFi, exchanges, index trackers, and payment apps. Both my bank app and broker app even allow crypto purchases.
To an end-user, many cryptocurrencies can work like investments or stocks. Yes, many can be highly volatile, but you can't dismiss them ALL because some are bad. There are services that hold crypto as collateral for loans, or will lend your crypto out to other people and in turn pay you (like some brokers lending stocks). Some companies offer trading bots or arbitrage trading services to generate revenue. If you've maxed out some more traditional portfolios, why not add some crypto? Even JPMorgan has suggested investors should look at adding some Bitcoin to diverse their portfolios.
The crypto has the value it has because that is the value the market has given it (just like many other things). And because it's so desired, that creates new markets and jobs and even its own economy. You can think of it as a fad like Tulips or Beanie Babies, but that doesn't make it any less valid.
Regulating it and moving more of it to proof-of-stake would help take care of some of the fears and volatility, and greatly reduce its energy impact.
As for its "crash", BTC is up 637% and ETH is up 586% over the past 5 years.
Crypto apps are some of my most-frequently used apps! I have a whole folder just for them on my iPhone. Lots of CeFi, exchanges, index trackers, and payment apps. Both my bank app and broker app even allow crypto purchases.
To an end-user, many cryptocurrencies can work like investments or stocks. Yes, many can be highly volatile, but you can't dismiss them ALL because some are bad. There are services that hold crypto as collateral for loans, or will lend your crypto out to other people and in turn pay you (like some brokers lending stocks). Some companies offer trading bots or arbitrage trading services to generate revenue. If you've maxed out some more traditional portfolios, why not add some crypto? Even JPMorgan has suggested investors should look at adding some Bitcoin to diverse their portfolios.
The crypto has the value it has because that is the value the market has given it (just like many other things). And because it's so desired, that creates new markets and jobs and even its own economy. You can think of it as a fad like Tulips or Beanie Babies, but that doesn't make it any less valid.
Regulating it and moving more of it to proof-of-stake would help take care of some of the fears and volatility, and greatly reduce its energy impact.
As for its "crash", BTC is up 637% and ETH is up 586% over the past 5 years.
Absolutely agree there are a lot of risks as it is an emerging market. You seem to be referencing developed nations, but I think it's important to consider a developing nation with a much less stable currency than the dollar or Euro. Instead of immediately running to the store to convert their devalued currency to food after payday so as not to lose purchasing power, they can convert it to USDC or something similar and at least retain the value relative to the US Dollar.
As for being your own bank - I don't think cryptocurrencies are going away but for those who do not want the associated risk there will be CBDCs.
So much of crypto is a total scam. It would probably be better to bad the whole category of apps.
The person literally said crypto anything is a scam. Seems like a pretty naive statement.
As for distributed ledger, I think your spreadsheet comparison is more akin to traditional banking. Reaching consensus with no central authority is actually a pretty big deal.
The only useful function of cryptocurrencies is time stamping documents. The cool thing about that is, it's free. You put a hash of a signed copy of a document on the blockchain and then you can prove, you had a copy of that document at the time you put it up. You don't need to own any currency to do it and it is a free service. Other than that, Blockchain money is scam all the way down.
I'm sure sideloading with make all this much better.
And the truck tons of energy being wasted from crypto-mining.
As if. The least scammy platforms to find apps for are those without requiring an app "store", such as macOS and the non-store that is the wide open internet. I have long given up on bothering with trying to sludge my way through the misleading trash on the Apple iPhone App Store. What the EU wants to do is open up iOS so that we can simply find apps on the internet without having to deal with being funnelled into this locked-down, culture-censored, Apple-taxed, scam-fest of the chaperoned Apple iPhone App Store. I can't wait.
And guess what, if the EU succeeds, you will still be able to stick with exclusively downloading apps from the Apple App Store, whilst the rest of us, finally, freely sideload to our heart's content. No harm done to you, all your favourite subs and scams will still be available in your privacy and security perfected Apple store.
Yeah, and if you do "do your own banking", you are at risk of either losing your keys, or being hacked, and losing the lot. I have a friend who lost $150k in this way. Gone, puff, no recourse for recovery.
The crypto-religious rave about the banks taking their cut, somehow oblivious to the even bigger cut the exchanges take when transferring to and from real currencies, than banks take from using credit cards.
They also rave about crypto replacing real money. However, the horrendous fluctuations make it useless as a currency. Oh, yeah, what about the tethered crypto, like, um, the one that recently became worthless because the inventors/owners/whatever-you-call-them went and invested it all in other crypto and then disappeared, oops.
Crypto has been all the rage because of the insane exponential growth it's had over the years, creating lucky millionaires. However, such exponential growth requires exponential new money being injected into it, which has an obvious ceiling (once every single drop of wealth in the world has been put into it, there is no further to go), and bitcoin now has such a high market cap that the pattern of repetitive exponential spikes has come to an end. The 2021 spike didn't spike, it double camel humped, and it's never done this before. Basically, the exponential growth has already reached its final end, or is very near to it. At best, it might have a couple more sputtering attempts with variable success, but the gravy train of exponentially higher highs has ended. The big question will be, once people realise this, will there be a massive run on the currency as everyone tries to collect their gains (or for most, it will be minimise their losses). Essentially, the entirety of crypto is backed by thin air, as you say, a casino ponzi.
Seems like not a long window for Apple to reply. Wonder what Apple will say.
Something like over 85% of that stuff belongs to a very few people who literally rig and control this “market” with fraud and manipulation with fraud stable coins. It’s unregulated, cross borders and runs 24/7. There’s no way it can ever get truly regulated or be without manipulations. It makes the 1930s stock markets look clean.
These numbers ‘1010000200220%’ up this year means nothing if only a small percentage rig the system and every 1-2 years they crash it and steal everyone’s money.
Time stamping documents with a merkel tree and hashes can be done anyway without this pump and dump thieves and their ponzi coins. Block chain and merkel trees were invented between 1970s to 1990s for that very purpose.
These ponzi coin people took everything that universities and government agencies created that was funded with tax payers money. They took the public funded research just to make oligarchs and VCs wealthier.
You don’t need a blockchain for that. You’re describing a digital signature. The tricky part is trust/identity — you can either use a CA (which costs money, ties it to your government ID, or similar) or some kind of Web of Trust, which a block chain is a needlessly inefficient form of.
Blockchains are theoretically interesting data structures but in practice pointless.
I believe the wages in Brazil are actually in US dollars and on a payday people are getting paid at whatever the exchange rate is on that day.
They are nothing more than sub-par, lower-hungry append-only databases that can do literally nothing existing tech cannot already do - other than facilitating scams and money laundering.
Ahhh, so your investment is the hype around it, driving the "value" of that investment. You literally have a vested interest in trying to keep the hype going to protect your "investment" in valueless garbage - at least until you can off it on some other sucker. I think the word for that is: shill.
There is literally nothing supporting the "value" but hypemen and shills.
As for developing countries: there are other ways to stabilize their economies without drawing more power than small nations on an even more laughable endeavor than "meme stocks" (seriously, those * are keeping GME afloat, financing its NFT store garbage, harming workers, etc - 🪛 them).