The FDIC is setting guidelines for tokenized deposit insurance. This is similar to what happened in the early 2000’s in the banking industry with the rise of the internet.
TLDR: Financial technology becomes widely trusted only after regulators define safety rules.
@RichardHeartWin Put 1 million USD worth of $PLS into a pot. Then do a sacrifice that people put X amount of coins have them sign something that says they understand what they’re doing with a separate wallet address. Than a great anonymous donor will then airdrop a certain crypto of his choice.
This just went live on https://t.co/LAp2nBG1zT.
0xAFa2A89CB43619677d9C72E81f6d4c8a730a1022
You are sacrificing your coins to make a political statement. You believe in capitalism, the removal of middlemen and replacing trust with proof. You are sacrificing your coins to prove you are serious about this belief. You have no expectation of profit from the work of others. You understand what you sacrifice can be sold and you will receive no benefit from it.
Bitcoin, Ethereum, USDT, Solana, XRP, BNB, TRX, DOGE, ADA, Hyperliquid, LINK, BCH, XLM /Stellar, LTC, DASH, XMR, AVAX, Zcash and many other coins from many other networks are accepted. You can't game the system with illiquid coins.
No sacrifices will be credited from the PulseChain network for anything. No PLS, PLSX, INC, HEX, eHEX will be credited from any network. A whole lot of people are going to post angrily that what they wanted to sacrifice, they're not allowed to. It's ok. The rate increases quickly and the sacrifice is over quickly. This maximizes fairness across all networks.
The max bonus is 3x. There's a leaderboard. Rate increases start in about 21 days. What might be airdropped for free to those addresses noticed proving their belief in this political statement?
What other tokens should be added and what networks?
Thought experiment. Someone tries to sell you something that trades at $1 for $1. But he wants to sell 10,000,000 of them. Ok, well, you'd want a good deal if you were to buy 10 million of something instead of 1 I'd bet. Then you check the market, You see that if you had to resell the thing, you'd only get $2,400,000 for the 10,000,000 of the thing.
In that case, it seems like it'd be fair to pay about $2.5M for the 10,000,000 things and not $10,000,000. Why would you pay someone more for something they'd sell to you for less?
How do you value something people want to sell you more of than you want, and you can't possibly sell as much as they want to sell you?