Do you subscribe to the view that BTC is an insurance product in the event of fiat failing? -Greg Foss

I think Greg Foss describes Bitcoin in a compelling way as an insurance to protect against fiat's failure. It is available as a safety net in the event of fiat values collapsing. When viewed this way, there aren't as many alternatives I can think of that would offer the same potential as BTC to hedge against a global fiat erosion. All existing hedges are still part of the traditional system.

This is a more neutral way of viewing BTC and less of a hyper maxi view that it's competing with money. It's simply a possible backup if one ever becomes necessary. As a society, safety nets and urgent alternatives seem warranted in such a volatile macro economy.

Greg works as a credit risk manager and has attempted to provide a valuation to Bitcoin in the context of fiat insurance. With his current risk score and assigned values, he estimates Bitcoin is currently worth $400,000 a coin as a hedge against fiat's global risk.

I can see this being a rationale value proposition. In terms of risk management, it offers something without counterparty risk. Unlike all other traditional fiat hedges.

This could easily be one of the best thing to happen in years

https://www.reddit.com/gallery/11pip6q

This is exactly why BTC was created 15 years ago

It is no coincidence bitcoin was created right after all the “to big to fail” banks all went down over a decade ago.

There is no trust left in tradition finance and governments who are the most irresponsible money managers in existence.

When you loan out money you don’t have that’s as bad as the average person putting everything on credit bc they can’t afford it. Without collateral and backing of assets everyone who holds money in a bank just has IOUs from that bank.

With defi you control your assets, you own the actual keys, there is no one entity that can fail and make you go bankrupt.

30+ trillion is debt is all that needs to be said. How can you trust a financial system built on IOUs with no responsibility? We need bitcoin and hopefully events such as SVB open more peoples eyes to it

#REAPER NEWS

https://i.redd.it/my0cr52uxcna1.jpg

This could easily be one of the best thing to happen in years

https://www.reddit.com/gallery/11paj2r

Cardano Daily Discussion - March 12, 2023

Hello everyone,

Welcome to the Cardano Daily Discussion!

The standard sub rules apply here (see sidebar), with the exception that price discussion is allowed in this thread, though we encourage you to try not to make this the focus and talk about the project itself. Please ask questions, help others and be civil - be sure to get involved in Project Catalyst too!

If you're new, please make sure you're read through the newbies guide and share it with others (use the ?newbies comment command to reference it).

​

⚠️ Scam Warning ⚠️

Please read the Cybersecurity guidelines for Cardano Users.

There are ongoing giveaway scams on youtube and many scammers lurking in Cardano's social channels impersonating ambassadors/moderators/official staff contacting users via direct messages.

For example, searching 'cardano' on youtube and sorting by most recent upload date shows several giveaway scams running (all videos in screenshot are scams):

​

Ongoing 'giveaway' scams on Youtube

The youtube scams are automated; use stolen footage usually of Charles Hoskinson and are restreamed so to appear to be 'live'; appear to have many watchers (which are bots); use bought hacked channels and are edited to appear like official channels.

See this post for more examples of what they look like

Do not be fooled!

​

To be clear:

• ⚠️ There is no such thing as a Cardano giveaway
• ⚠️ Never share your seed phrase with ANYONE
• ⚠️ Never send ADA to someone promising to send you more ADA back
• ⚠️ You will never be contacted by ambassadors/moderators/staff

Please report scams on the Cardano Fraud Detection Bureau.

⚠️ Scam Warning ⚠️

​

​

​

https://preview.redd.it/60ofludzpq8a1.png?width=284&format=png&auto=webp&v=enabled&s=7d58fc8aaa2eb5f125624608b97bdd7b943a1111

Midnight Subreddit

In anticipation of Input Output's new data protection blockchain 'Midnight', I've managed to acquire r/Midnight through some negotiation and repurpose it for the Cardano Community (the sub was created for a card game back in 2011 but was mostly unused).

I decided to do this as I thought the project will eventually need a home on reddit and best to setup now before any scammers do. Obviously there's not much to post about on there right now as it's early days as the project is yet to be released, but if you'd like to be kept up to date on the project please feel free to join the new subreddit if the project interests you and I'll be sure to post updates as and when they become available.

Right now the sub is mostly a carbon copy of r/cardano, I've copied most of the automod and rules over, so certain aspects may seem a little incongruent atm, but I'll tailor and tweak the sub as we go. Feel free to send me or post any input if you want stuff to change.

Cheers all

This could easily be one of the best thing to happen in years

https://www.reddit.com/gallery/11oxiq0