Well they announced 20 billion yesterday. Who knows when it hits.

Why does the majority of retail keep following the "crowd"? They feed you a nice narrative and it gest swallowed They are no different than the MSM.

What Wall St and your favorite influencers arent discussing - BTC holders, institutions and individuals, will be able to earn a yield on their BTC without ever giving up custody.

Lend BTC, fees in BTC, earn BTC...
And, it will all be done on Cardano.

LatinAggie1997 said:

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Why does the majority of retail keep following the "crowd"? They feed you a nice narrative and it gest swallowed They are no different than the MSM.

What Wall St and your favorite influencers arent discussing - BTC holders, institutions and individuals, will be able to earn a yield on their BTC without ever giving up custody.

Lend BTC, fees in BTC, earn BTC...
And, it will all be done on Cardano.

---

How's that work with ETFs like IBIT


BTC just crossed over to a new ATH, 124,300

BlackRock issues iBit but owns the actual BTC, and will be able to earn a yield on how ever much they are willing to lend.
Hold BTC as an idle commodity or earn a yield, holders will want to lend it out or borrow against it, and Cardano will be how.

LatinAggie1997 said:

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BlackRock issues iBit but owns the actual BTC, and will be able to earn a yield on how ever much they are willing to lend.
Hold BTC as an idle commodity or earn a yield, holders will want to lend it out or borrow against it, and Cardano will be how.

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I wonder if they'll give yield to ETF owners. If they don't, someone else will. I think they passed a rule where it can be exchanged for actual bitcoin too didn't they

LatinAggie1997 said:

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BlackRock issues iBit but owns the actual BTC, and will be able to earn a yield on how ever much they are willing to lend.
Hold BTC as an idle commodity or earn a yield, holders will want to lend it out or borrow against it, and Cardano will be how.

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So are you invested in Cardano? Not sure if it has been discussed in more detail in this thread…if so, can you point me to it versus sifting through a ton of pages? Also, is it the ADA-USD (about $0.95)?

ADA up big relative to others right now.

How?

Cardano (ADA) at $0.99ish.

I'm getting excited about it jumping above $1, but wouldn't mind another dip to buy more in a few weeks.

Did they ever ok that Cardano ETF

At 28:37 he's asked about Blockrocks filing to be able to pay yield on the ETF, and why not just do that instead of investing in ether machine

As I'm understanding this

Yukon Cornelius said:

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How?

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Watch the first 15 min of this video

So there's a Cardano layer 2 that's supposed to allow btc defi? But it's not explained on how it works.

I can't anything showing HOW it works. Midnight seems to be live? Can you share screenshots or anything of doing what it claims to be able to do?

Follow Input Output on X and perhaps Midnight, also I post random updates and information on the Cardano thread.

People should truly start paying attention because once everyone is following along like they are with Eth, the real money has already been made.

hasn't eth been at a multi year low till just recently

Yukon Cornelius said:

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So there's a Cardano layer 2 that's supposed to allow btc defi? But it's not explained on how it works.

I can't anything showing HOW it works. Midnight seems to be live? Can you share screenshots or anything of doing what it claims to be able to do?

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This is the best explanation that I've seen. I'm still trying to fully wrap my head around it. It doesn't sound like an L2, but rather native Cardano compatibility with BTC so you never have to swap tokens or deal with an unsecured bridge.

lol. Thats going to be disastrous.

Yukon Cornelius said:

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lol. Thats going to be disastrous.

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Why? Nobody else in the crypto space seems to think so.

They are wrapping btc into smart contracts. And then using a derivative of btc to do defi. (This already happens on eth). The main difference is on eth you have a central player like Coinbase holding the btc and giving you the wrapped token derivatives.

This however will seemingly be in a smart contract. One problem… btc doesn't have smart contracts. So they are trying to replace the central player like Coinbase with a repository that is operated by a smart contract. But smart contracts require timely and accurate data.

If you provide bad data to that smart contract you can steal all the btc. And it will happen. There will be situations of bad data because the data itself isn't decentralized or protected.

It's a disaster waiting to happen.

Let's see some people put their btc up like that. Either of you two ADA proponents please show yourselves doing it.


And then let's say someone is actually willing to do that. Then what? What are they doing with their btc derivative on the ada chain? There's almost no defi activity on Ada. So any fees regenerated by deploying your btc is going to be insanely insignificant.

….waiting for BMNR to announce share dilutions…. I know it's coming. Hope it's this week.

This is not accurate.
No need to wrap anuon Cardano. Cardano will be the settlement layer and smart contract capable. All transactions and fees will be in BTC, regardless of which native asset is originally used due to Babel.
On Cardano the holder never interacts with anything other than BTC, as it is all done on the back end, just like using your Chase CC in Dubai, Russia, or Germany. Dollars are taken out and converted to the native currency without the card holder ever realizing different.

Yukon Cornelius said:

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They are wrapping btc into smart contracts. And then using a derivative of btc to do defi. (This already happens on eth). The main difference is on eth you have a central player like Coinbase holding the btc and giving you the wrapped token derivatives.

This however will seemingly be in a smart contract. One problem… btc doesn't have smart contracts. So they are trying to replace the central player like Coinbase with a repository that is operated by a smart contract. But smart contracts require timely and accurate data.

If you provide bad data to that smart contract you can steal all the btc. And it will happen. There will be situations of bad data because the data itself isn't decentralized or protected.

It's a disaster waiting to happen.

Let's see some people put their btc up like that. Either of you two ADA proponents please show yourselves doing it.


And then let's say someone is actually willing to do that. Then what? What are they doing with their btc derivative on the ada chain? There's almost no defi activity on Ada. So any fees regenerated by deploying your btc is going to be insanely insignificant.

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I'm sure there will be safeguards in place to prevent errors in the smart contracts. Will there be people trying to scam with smart contracts? Yes, but scams are everywhere in the centralized financial world too. It's all very new and under development, but I'm positioning myself to take advantage when the product has matured.

If ETH relies on CEX's like Coinbase that sounds like a true disaster. There's nothing decentralized about Coinbase as a middleman. What happens if Coinbase is hacked or goes down?

"All done on the back end" is what I'm talking about. Somewhere you have to create a derivative.

"I'm sure there will be safe guards" ie "trust me bro".

I hope yalls Cardano bags kill and yall bank. Can't wait to see yalls btc being deployed on Cardano. Please share screenshots of it

Let's assume the Bitcoin isn't going to be wrapped and this isn't going to be deployed in a manner similar to what Yukon described.

(I'm not sure this is true)

Strike already facilitates transactions in manner that sounds similar to what you describe for fairly low fee. Help me understand how what you're describing is different than strikes bitcoin/payment offering?

Yukon Cornelius said:

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"I'm sure there will be safe guards" ie "trust me bro".

I hope yalls Cardano bags kill and yall bank. Can't wait to see yalls btc being deployed on Cardano. Please share screenshots of it

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You're being very hyperbolic. The fact is that it will not get adopted in the mainstream unless those safeguards are there. Cardano doesn't operate under the "trust me bro" mindset. They want everything to be trustless and truly decentralized. They're working in it methodically.

There's ALOT of nonsense being spewed on this thread right now

Thunderstruck xx said:

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Yukon Cornelius said:

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"I'm sure there will be safe guards" ie "trust me bro".

I hope yalls Cardano bags kill and yall bank. Can't wait to see yalls btc being deployed on Cardano. Please share screenshots of it

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You're being very hyperbolic. The fact is that it will not get adopted in the mainstream unless those safeguards are there. Cardano doesn't operate under the "trust me bro" mindset. They want everything to be trustless and truly decentralized. They're working in it methodically.

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Im not being hyperbolic at all. I dont think you understand how any of this works. IF your BTC is being held within a BTC address controlled by an ADA smart contract that smart contract will require accurate and timely data. IF there is any bad data or slow data the entire holdings of BTC could be drained by a bad actor. So the "security" of the contract may be in tact but if data isnt you are incredibly vulnerable. So who is supplying the data directly to the smart contract containing the BTC? How secure is it? How timely is it?

if you cannot answer those questions you are insanely foolish for risking your BTC. And I highly doubt anyone will do so. Which is why I challenge both of you ADA proponents. Let me see screenshots of yall doing DeFi with actual BTC on cardano. and Let me see the returns of said DeFi.

Fundamentally I dont think yall truly understand how all of this works. There is a reason it works a certain way on ETH and SOL and every other blockchain with smart contracts.

Babel fees on Cardano allow users to pay transaction fees using any native token on the network, rather than being limited to ADA. This feature, implemented through the concept of limited liabilities, enables more flexibility and potentially lowers transaction costs, especially for users who prefer to interact with the network using specific tokens.
Here's a more detailed explanation:
What are Babel Fees?
Babel fees, introduced to the Cardano ecosystem, offer a way for users to pay for transaction processing using any token that is natively supported on the Cardano blockchain. This contrasts with traditional blockchain systems where fees are typically paid in the network's native cryptocurrency (in Cardano's case, ADA).
How do they work?
The mechanism behind Babel fees involves a concept of "limited liabilities". Essentially, users can express a liability to pay a certain amount of a specific token as a fee, and the network will handle the matching transaction to ensure the transaction is processed.
Benefits of Babel Fees:
Increased Flexibility:
Users can choose to pay fees in tokens they already hold or prefer, rather than being forced to acquire ADA for transactions.
Potential Cost Reduction:
For users who hold tokens with lower market values than ADA, Babel fees could lead to lower overall transaction costs.
Enhanced Utility for Native Tokens:
Babel fees give more utility to native tokens on Cardano, allowing them to be used for more than just trading or holding.
Improved User Experience:
Simplifying the transaction process by removing the need to manage multiple currencies can make the network more accessible and user-friendly.
Implementation:
Babel fees are implemented by allowing users to specify which token they want to use for payment, and the network handles the conversion to ADA (if necessary) for the actual transaction processing. This often involves using a fee tank, which holds a balance of ADA and other tokens, and an oracle to determine the exchange rates between different tokens.

Thats just a processing function for fees on TXs.

Literally nothing about the concerns on how the DeFi system works in regards to holding BTC.

Best of luck to yall

You asked about the "back end" and derivatives. I explained you don't need to wrap anything like Eth due to Babel fees and this is your response.

Go back and read my post before you mentioned backend. I'm not talking about transactions. I'm talking about how do you use a bitcoin on the Cardano network.