Bitcoin....who's gotten into it?

[ICantLogIn]

LoopX ICO disappears with $4.5 million in exit scam

Bummer

[stalefish3169]

LoopX ICO disappears with $4.5 million in exit scam

http://projectcensored.org/pentagon-...-no-dod-audit/

https://www.vanityfair.com/news/2009...family-profile

https://www.theguardian.com/business...osborne-report

Let's ban dollars! They are only used to facilitate fraud.

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[stalefish3169]

Litecoin is going nuts right now!

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[stalefish3169]

10k on deck.

Boom!

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[ICantLogIn]

This guy pumped this price action.

[ICantLogIn]

I have a buy at 9.8 ish and 8k. Once people start talking about moon/lambo whatever, I figure its oversold.


This guy https://blockchain.info/address/3Cbq...G7yT6bPbKChq64

He panic sold then got back in lower. To try and avg it out maybe? It worked out.

[stalefish3169]

LAMBO BRUHJ

Attachment 224375

In all seriouslyness, there's a lot of work to be done for BTC. Many hoomans will need to hit the green button in order to make 50k, 100k, 500k happen. It's doable, so long as institutions decide it deserves a place in the portofino.

This should help. https://medium.com/@coinbasecommerce...y-54ba64966f8d

[stalefish3169]

Also, the Huracán is dope for a grocery getter. But I am thinking I want to go with the Urus for getting up to the ski hill. Lulz

[skaredshtles]

[1000-oaks]

Anybody try a MakerDai CDP?

[ICantLogIn]

Does any company actually use the blockchain solutions in real life -

U.S. soy cargo to China traded using blockchain

You can use crypto to buy things on Overstock.

Defence multinational Lockheed Martin contracted Guardtime Federal to integrate blockchain into the company’s processes – with the aim of providing auditable reassurance to America’s federal government.

https://www.computerworlduk.com/gall...today-3656030/

[ICantLogIn]

As long as this trend holds up, we should have lambos by Spring.

Keep it going man I have buy in just a bit lower.

[stalefish3169]

>You can use crypto to buy things on Overstock.
Why would I spend my crypto if the price is going up. #HODLEFOOLS

> https://www.computerworlduk.com/gall...today-3656030/
So basically a whole lot of bullshit blockchain applications that don't yet exist in real life and could be done much cheaper, faster, more robustly and dependably with a traditional database, right?

Attachment 224565

According to this guy, even if you believe that chart ....

https://davidgerard.co.uk/blockchain...-think-you-do/

You still need a blockchain less than you think you do.

So basically never.

Remember when time shares and vacation clubs were all the rage? Today - no way. Not even going to the seminar to get my free night stay to listen to that stupid presentation. Is that the future of blockchain?

This rabbit hole is getting even more interesting ...

https://twitter.com/asglidden/status/964735088645689344

Potentially more fiat to be earned by turning over pump-n-dumpers to the CFTC. 30% bonus to tattlers!

I just finished reading "50 Foot Blockchain". Really good read. Quite entertaining - esp the stuff about Bitcoin history and all the scams/exchanges. I never knew that Ripple was founded by the same guy that sold Mt Gox in a state of disrepair before the last big crash. Crazy.

OMG - I just can't stop posting ....

https://twitter.com/ummjackson/statu...85105115455488

The guy that invented Dogecoin on a roll blowing up blockchain hype. Hilarious!

Those are some weak points. Big arguments for not using a traditional database is that it can be hacked and requires a trusted third party. Decentralized block chains are also much more difficult to censor. Those things should not be overlooked. Additionally, the traditional banking system can take days to settle international/cross-currency payments while generally charging outrageous fees. I can send Stellar Lumens to anyone anywhere in seconds for almost nothing.

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[stalefish3169]

> Big arguments for not using a traditional database is that it can be hacked and requires a trusted third party.

Having a trusted third party is a good thing. That is what makes it possible for your bank to make amends when you improperly specify the account number on a send. Blockchains can also be hacked. I guess you never heard of the Bitcoin malleability bug, or all the wallets and exchanges being hacked (almost one every day or week). In every instance where a traditional database requires a trusted third party, it can probably be shown that the user base has benefited from that feature.

Even if they can't be hacked, they can be forked and the networks can be attacked with various partitioning techniques. Cut a transatlantic cable, spam a few nodes and poof, the 51% requirement to double spend on Bitcoin can be done (it is actually even less than 50%, I think even 35% can be done in the right conditions). A state actor could do stuff like that no problemo. In fact, just using router and routing attacks, researchers have shown that Bitcoin and similar coin are vulnerable.

As for the traditional banking system, I just sent a Swift to someone for $35 charge and it took about 25 minutes (international). A lot of banks have upped their game and in the future I would expect that SWIFT and other protocols in banking to deliver near instant transfers. You don't need an eco-hog blockchain 10,000 node system like Bitcoin to make wire transfers fast.

As for Steller, why do I keep reading that it is centralized? Why should I use Stellar when the banks that use Ripple's systems (none) don't even use Ripple tokens? Stellar and Ripple are the same, right?

Real life uses of blockchain ... almost nil. There is rarely the absence of a trusted third party, and where there isn't, even the blockchain solutions are a shitnado of tech/conflict/forks/and hacks.

As far as I have heard, the arguments in favour of blockchain are the lamest. Not only lame, but purely based on GREED.

https://davidgerard.co.uk/blockchain...-think-you-do/

You still need a blockchain less than you think you do.

I'm not going to respond to all of your points because you're so far off base. But...

https://en.m.wikipedia.org/wiki/Well..._fraud_scandal

Trusted 3rd parties are not as trustworthy as you think.

https://bitcointechtalk.com/transact...d-b7e240236fc7

"Transaction Malleability is fixed with Segregated Witness by no longer taking into account signatures when calculating the transaction’s fingerprint."

https://www.stellar.org/how-it-works...cs/explainers/

"Like a traditional ledger, the Stellar ledger records a list of all the balances and transactions belonging to every single account on the network. A complete copy of the global Stellar ledger is hosted on each server that runs the Stellar software. Any entity can run a Stellar server.

These servers form a decentralized Stellar network, allowing the ledger to be distributed as widely as possible. The servers sync and validate the ledger by a mechanism known as consensus."



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[stalefish3169]

> Transaction Malleability is fixed with Segregated Witness by no longer taking into account signatures when calculating the transaction’s fingerprint."

That's not what I am talking about. This is what I am talking about:

https://techcrunch.com/2014/02/13/si...egedly-stolen/

Either you didn't read my link, or your reading comprehension is quite poor. But both of these scenarios being true seems plausible.





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[stalefish3169]

I was at a wedding this summer, talking to a young 20-something Business School student about Bitcoin and Ethereum. He told me he thinks they have no value as investments because they are all copyable by anyone. And he is right - they are pretty much all open source and copyable en-masse. I was surprised to see a much younger fellow (a NewSchooler if you will) chiming in with a very important critical viewpoint.

You can't fork gold. You also can't fork government issued debt. Not so with 'crypto'. Warren Buffet is right, Bitcoin is a digital chequebook and chequebooks are not worth anything. They are only good as a system of messaging. At the core, all Bitcoin is, is a block-time-stamped messaging protocol. It is a chequebook - not actual money.

Totally unrelated - except maybe for more lulz:




"The bubble bursts when debt servicing outruns income growth, every single financial bubble is actually a debt bubble that begins growing faster than available income"

If you're so full of confidence, you should probably short BTC bigly. Don't forget to report back how well you're doing in 2020.

[stalefish3169]

Are there any reputable exchanges not connected to Tether tokens than I can short on?

Why would I trust any crypto exchanges with real money? Almost all of them have had thefts and hacks and shown to be using wash trading and pumps-n-dumps.



I invest in popcorn.

Here you go, champ.

http://cfe.cboe.com/cfe-products/xbt...itcoin-futures

http://www.cmegroup.com/trading/equi...x/bitcoin.html



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[Timberridge]

"FOMO (fear of missing out) has solidly trumped WTHIT (what the hell is this??)," Elliott told clients in a January 26 letter. "When the history is written, cryptocurrencies will likely be described as one of the most brilliant scams in history."

The fund dedicated three pages to covering what it sees as issues with cryptocurrencies. The letter said:

"We all laugh at primitive tribes which used large stones (or pigs) as currency. Well, laugh as you will, but a stone or a healthy pig is something. Cryptocurrencies are nothing except the marketing power of inventors, financiers and others who love the idea of buying a black box (which is obviously empty) for the price of a Kia and dreaming that it will turn into a Mercedes. There have been times recently when this dream has materialized within hours. This is not just a bubble. It is not just a fraud. It is perhaps the outer limit, the ultimate expression, of the ability of humans to seize upon ether and hope to ride it to the stars."

-Paul Singer, Elliot Mgmt.

[stalefish3169]

"FOMO (fear of missing out) has solidly trumped WTHIT (what the hell is this??)," Elliott told clients in a January 26 letter. "When the history is written, cryptocurrencies will likely be described as one of the most brilliant scams in history."

The fund dedicated three pages to covering what it sees as issues with cryptocurrencies. The letter said:

"We all laugh at primitive tribes which used large stones (or pigs) as currency. Well, laugh as you will, but a stone or a healthy pig is something. Cryptocurrencies are nothing except the marketing power of inventors, financiers and others who love the idea of buying a black box (which is obviously empty) for the price of a Kia and dreaming that it will turn into a Mercedes. There have been times recently when this dream has materialized within hours. This is not just a bubble. It is not just a fraud. It is perhaps the outer limit, the ultimate expression, of the ability of humans to seize upon ether and hope to ride it to the stars."

-Paul Singer, Elliot Mgmt.

Let me be the first to say, "Fuck that guy!" Singer is just one more asshole that needs a fat slice of humble pie.

https://www.motherjones.com/politics...an-fundraiser/

Fortune described him as “a passionate defender of the 1%.”

Singer also secretly funneled $175,000 into a California ballot measure to allocate the state’s electoral votes on a proportional basis—a strategic ploy designed to move some of the blue state’s votes to the GOP.

Recently, Singer has given sizable sums to the billionaire Koch brothers’ dark-money projects as well as to the Club for Growth, an anti-tax group that has helped tea partiers oust several mainstream Republicans.

In 2010, Elliott executives ponied up nearly $200,000 for two campaign committees that helped Garrett and also boosted his stature with fellow Republicans; a large chunk of one of the committees’ funds went to assist other members. Singer and other Elliott execs have also opened their wallets wide for Cantor, who has led efforts to protect a massive tax break, known as carried interest, that allows hedge funders to pay very low capital-gains rates on their income.

But in what is perhaps its highest-stakes battle, Elliott has spent more than a decade waging an aggressive legal campaign to force Argentina to pay down nearly $1.3 billion in sovereign debt accrued in the wake of its 2001 financial meltdown. (Elliott would get about $300 million for bonds that Argentina claims it picked up for $48 million.) Most American banks and other creditors have long since accepted the country’s offers to pay off its debts at about 30 percent of their original value. But an Elliott subsidiary has won several federal rulings that have increased the pressure on Buenos Aires.

[skaredshtles]

Let me be the first to say, "Fuck that guy!" Singer is just one more asshole that needs a fat slice of humble pie.

https://www.motherjones.com/politics...an-fundraiser/

Fortune described him as “a passionate defender of the 1%.”

Just because he's a rich asshole doesn't mean he's incorrect regarding the retardation of the current crop of digital "currency"...

[splat]

Let me be the first to say, "Fuck that guy!" Singer is just one more asshole that needs a fat slice of humble pie.

https://www.motherjones.com/politics...an-fundraiser/

Fortune described him as “a passionate defender of the 1%.”

Singer also secretly funneled $175,000 into a California ballot measure to allocate the state’s electoral votes on a proportional basis—a strategic ploy designed to move some of the blue state’s votes to the GOP.

Recently, Singer has given sizable sums to the billionaire Koch brothers’ dark-money projects as well as to the Club for Growth, an anti-tax group that has helped tea partiers oust several mainstream Republicans.

In 2010, Elliott executives ponied up nearly $200,000 for two campaign committees that helped Garrett and also boosted his stature with fellow Republicans; a large chunk of one of the committees’ funds went to assist other members. Singer and other Elliott execs have also opened their wallets wide for Cantor, who has led efforts to protect a massive tax break, known as carried interest, that allows hedge funders to pay very low capital-gains rates on their income.

But in what is perhaps its highest-stakes battle, Elliott has spent more than a decade waging an aggressive legal campaign to force Argentina to pay down nearly $1.3 billion in sovereign debt accrued in the wake of its 2001 financial meltdown. (Elliott would get about $300 million for bonds that Argentina claims it picked up for $48 million.) Most American banks and other creditors have long since accepted the country’s offers to pay off its debts at about 30 percent of their original value. But an Elliott subsidiary has won several federal rulings that have increased the pressure on Buenos Aires.

He actually had the Argentine Navy's national training ship, the Libertad, seized over that debt.

https://www.forbes.com/sites/afontev.../#32153cdb25aa

[splat]

You still hodling that $6.4K buy, DroBro?

[splat]

I'm quite surprised at the rebound btc made. Hoping it drops (again) so I can buy in before the stock market takes a shit (again).

[stalefish3169]

"here comes the RED again, falling on my head like a tragedy, tearing me apart like a new emotion" ...

BTC is up over 200% in the last 200 days. Keep trying.

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[summit]

You can't fork gold. You also can't fork government issued debt. Not so with 'crypto'. Warren Buffet is right, Bitcoin is a digital chequebook and chequebooks are not worth anything. They are only good as a system of messaging. At the core, all Bitcoin is, is a block-time-stamped messaging protocol. It is a chequebook - not actual money.

Totally unrelated - except maybe for more lulz:

It is more complex than that.

It is different than a secure digital checkbook because the bank made only so many (reusable) cheques and buried them all about... and the value of each cheque is determined by speculators.

Now the problem is that any other bank can make any number of competing finite hidden cheques... and the exchange rates between banks is incredibly volatile