Board for Theranos was impressive too:Quote:
Originally Posted by stalefish3169
https://www.bloomberg.com/research/s...capId=20334531
Is McCaleb the guy who stole all that money on Mt Gox.
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Board for Theranos was impressive too:Quote:
Originally Posted by stalefish3169
https://www.bloomberg.com/research/s...capId=20334531
Is McCaleb the guy who stole all that money on Mt Gox.
Jed sold Mt. Gox to Mark Karpelès several years before the shit hit the fan.Quote:
Originally Posted by 4matic
No one mentioned this news from today:
The U.S. Treasury views virtual currencies such as Bitcoin as an “evolving threat” and is examining dealers to make sure they aren’t being used to finance illegal activities, the undersecretary for terrorism and financial intelligence said.
Treasury is working with the Internal Revenue Service examiners to review 100 registered digital currency providers as well as others that have not registered, Sigal Mandelker said in prepared testimony to the Senate Banking Committee on Wednesday. The department is also working with the Justice Department to pursue money laundering cases.
Steve Mnuchin is an evolving threat. We should probably just stick to paper money so nothing illegal ever happens again. Just like how the war on drugs has kept everyone from getting high.Quote:
Originally Posted by 4matic
Oh wait.
https://pics.me.me/cant-snort-coke-t...n-22897862.png
Also, that perspective makes this seem really interesting.
http://kutv.com/news/local/feds-to-a...seized-in-utah
On Thursday the U.S. Marshall’s Office is auctioning 3,813 bitcoins seized during criminal investigations, including one drug raid here in Utah.
It appears the feds want to sell the digital currency quickly as its value shot up in early December.
Recently, the cryptocurrency lost value quickly but at the time of this post, the value was still high – about $11,000 per bitcoin....
You’ve done your diligence. Good luck!
LOL because USD is not being used to fund terrorism and illegal activities.Quote:
Originally Posted by 4matic
You can't send ANY crypto in 5 seconds yet. That's the biggest issue. Transaction speed.Quote:
Originally Posted by stalefish3169
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Upcoming futures settlement dates starting 26th of Jan , 18th of Feb , 26th of Feb.....etc, lets see if we have a repeat (over 30% correction) of yesterday and the day before.
You can make an infinite amount of each "specialized" type of crytpo. Your argument fails again.Quote:
Originally Posted by stalefish3169
There is scarcity within an individual crypto, but there are an infinite amount of cryptos and they aren't hard to make.
Don't get too close to the edge of the earth or you might fall off. [emoji12]Quote:
Originally Posted by Skidog
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Just suggesting the same regulation and taxation as any other eft.Quote:
Originally Posted by ICantLogIn
Thank you. May your investments increase in value too!Quote:
Originally Posted by 4matic
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Big keyword here. . THEORETICAL.Quote:
Originally Posted by stalefish3169
Visa numbers are real and those type systems based on real currency are not theories. 3-4 transactions per second theoretically when visa does 1667? I.e. Bitcoin is slow.......way too slow.
https://mybroadband.co.za/news/banki...er-second.html
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No one is claiming that Bitcoin and Ethereum are fast right now, but there are literally hundreds of devs working on scaling solutions. Read up on the Lightning Network, Casper, and sharding.Quote:
Originally Posted by Skidog
Ripple and Stellar are currently very fast. I've sent Stellar in seconds for less than a penny.
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Bitcoin won't get fast because to be fast means creating a larger trusted system... ya know... like a bank.
Ding ding ding ding... Which prize would you like sir?Quote:
Originally Posted by Summit
Making it fast makes it just like every other currency. I know the devs talk about a better system, but guess what? It doesn't exist yet. Sooooo....vapor
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What's the predicted effect of quantum computing on the whole limited hashing thing? It seems like you could burn through the limited blocks fairly quickly unless some other form of artificial scarcity is put in.Quote:
Originally Posted by stalefish3169
I can just picture you two Luddites on the beach at Kitty Hawk laughing at the Wright Brothers.Quote:
Originally Posted by Skidog
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Not sure. But I'm glad to have a bet on Stellar and thier partnership with IBM.Quote:
Originally Posted by abraham
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NPR just did a bit this morning on how it's believed that 20% of bitcoin is lost. They had one guy on who couldn't find the computer he bought it with years ago and didn't keep his passwords. He thinks he bought it around 2009 for pennies, so at that time he just wrote it off as a loss of a few dollars...until now.
Some guy in England was trying to get permission to dig up the dump in his town in England to try to find his old laptop, same story.
How does a technology partnership make the Stellar tokens more valuable?Quote:
Originally Posted by stalefish3169
saw this one....good story..what a tard eh? They wont let him dig it up because of all the gasses from the decomposing garbage...Quote:
Originally Posted by iceman
Bitshares. lightning fast and super low fees.Quote:
Originally Posted by Skidog
I have it on good authority we will likely see quantum in the pretty near future, IBM is close and yep...it could turn the whole bitcoin thing into a juggernaut.Quote:
Originally Posted by abraham
That remark was regarding quantum computing...at which IBM is a leader.Quote:
Originally Posted by 4matic
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guess you dont read the same articles i have been reading...all come from bitcoin/blockchain supporters and yeah...they say the same thing about speed and centralization being necessary for faster transactions. But keep dreaming...im sure this is your get rich quick scheme, and this one will be "the one".Quote:
Originally Posted by stalefish3169
juggernaut... or allow several orders of magnitude of ease in mining, breaking of SHA256 or vastly outclass the processing power on the network... basically many avenues to compromiseQuote:
Originally Posted by Skidog
Quantum could potentially make all current cyrpto obsolete and insecure! You could come up with new crypto...
I get that but why would that partnership make the stellar coin offering more valuable? Do tokens act like an equity investment in the underlying business?Quote:
Originally Posted by stalefish3169
If IBM buys Stellar do the tokens get acquired in the deal?
I don't think I've been overly critical of some centralization. It's naive to claim there won't be a decent amount of it. We have strong governments.Quote:
Originally Posted by Skidog
I don't view this as a get rich quick scheme. I'm a programmer myself and I largely believe in the tech. I don't day trade. This is a multi-year thing for me at least.
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I am in tech as well, systems side, and I firmly believe that blockchain tech is awesome, I just dont believe in the "coin" as a currency. So we sorta agree....I am surely not alone in my beliefs.Quote:
Originally Posted by stalefish3169
Exactly...Quote:
Originally Posted by Skidog
BTC is secure because it is too much work, which is why insecurity involves indirect attacks (exchanges etc).
Expecting BTC to hold value and be secure longterm is lunacy.
Anyone using DES 56bit encryption these days? Of course not! I remember running distributed.net for a while in the late 90s before switching over to SETI@home
As a store of value or means of transaction, cyrpto is pretty useless. Therefore, it is not a currency!
Blockchain technology, however, is of great use.
I think some of the core of the technology and concept will be the future of transactions, assets, and even currencies. But like Napster I think the current business model as it were is for shit.
It’s currently a criminal , despot, speculator, and tax evaders paradise. Unless the capability to support tax reporting can be incorporated then I just can’t see how the US Govt can possibly let it continue as is. And if they do that, is there a value as wildly high as is currently prices, or does that basically undermine the main value.
Right now some guy who bought at $100 BTC is supposed to report the profit if he sells at $14k, but why would he since it’s all anonymous. At best it distorts the broader asset markets as people price in no need to pay taxes, at worst it’s a haven for the K Jung Un Putin’s and mafiosos if the world.
Why in the world wouldn’t regulatory bodies shut it down or demand auditing for tax reporting. Fuck they can look into Swiss bank accounts now, why would they let this slide?
As far as being a currency, thats total BS. Shit can’t be priced in BTC or Ether it any of that shit because of the wild price swings. It’s a libertarian moronity to think that only devaluation of a currency is a problem. STABILITY makes the best currency.
Again, some future implementation, yes.
How about one where the price as it were is tied to a basket of currencies and assets. USD, GBP, Gold, DOW, Oil, etc such that wild price swings in one or a few doesn’t overly inflate or deflate the currency. STABILITY. Then if you can deliver fast transactions at low cost, provide sufficient regulatory insight to the block data, etc. the. It had legs. But frankly that just sounds to me a lot like a bank with a diversified asset allocation.
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@kinnlklnnick
No no! You see! Any crypto is supply limited! The value can only go UP! (and down and up and down and up and down and up and down and up and down and up and down and up and down and up and down and up and down and up)
Until the bubble pops due to proliferation of competing cryptos... or the crypto compromised by computing advances, whichever comes first...
And yes it is a libertarian flight of fancy.... but remember a hard core libertarian views taxation as a violent act of theft and the mafia only exists because of government interference in the free market.
Like this?Quote:
Originally Posted by Kinnikinnick
Quote:
federal court judge ordered San Francisco-based Coinbase to comply with a summons that requires it to identify 14,355 accounts, which have accounted for nearly 9 million transactions.
The order, which covers transactions between 2013 and 2015, comes after a prolonged court fight that began when the IRS demanded that Coinbase provide detailed personal information for more than a million customer accounts.
The IRS subsequently limited its demand to ask only for accounts that conducted bitcoin transactions—either exchanging bitcoin for dollars, or sending or receiving coins from another bitcoin user—worth $20,000 or more.
Another brilliant analogy. Whenever someone points out obvious flaws in your dream, you counter with a pithy and extremely flawed analogy of some sort. Whatever. I guess history just isn't your strong suit. No one is saying the tech isn't valid. We're saying that long term investing in today's cryptos is like filling up hangars full of early model biplanes in the expectation that they will appreciate indefinitely. Meanwhile, you should really be trying to figure out who is going to be the next Boeing or American Airlines.Quote:
Originally Posted by stalefish3169
Is any new technology a means to an end or an end in itself? The real world naturally tends to organize itself around providing services or the production of goods.
Yeah, although that’s just a us exchange. What about the guy who bought direct off his own server and now has a billion worth. When he sells he owes a couple hundred million.Quote:
Originally Posted by ICantLogIn
No way to track that down
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Bitcoin being the new Napster is the most spot on analogy I have heard to date. Interesting technology, gonna shake up a few things in some large industries, a real "fuck the man" ideology that people want to get behind, but ultimately nothing sustainable.
Coinbase IRS is old news. Big news would be required accounting for every account like any other broker dealer.
EXACTLY. All these coin wallets are going to have reporting requirements to the IRS just like bank accounts and brokerage accounts. It will chase the action off-shore just like real banks in the 70s-90s but like those there will be very few places that you'll be able to hid without major country-specific risk (basically a new FATCA). Just like Switzerland and Panama the US can wave a big stick to make countries comply and give people up.Quote:
Originally Posted by 4matic