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You don’t think that’ll get insanely complicated? How do you know which NFT has been blacklisted due to hacks, fraudulent card purchase, etc. what if it was hacked and sold before the publisher had a chance to blacklist? I mean I actually own some NFTs (which I bought purely for the irl benefits), to me the whole experience could be summed up as a database entry with a lot of extra steps that gave absolutely no benefit to anyone except hackers. The average user is more susceptible to hacks than a major publisher, like how many times has Valve had a major security breach? Compared to how often do you see stolen Steam accounts being traded? As far as responsibility goes, the sensitive part of the process is accepting cards and the PCI compliance, not the storing of the ownership of tokens. So if that publisher wants to take cards then they’ll have that liability anyways.
I think it's doable. Let's say bread costs $1. Right now for 1 USD you can buy i USDT that is also worth 1 bread. Flatcoin, instead of the guarantee of being redeemable for 1 USD would have to be redeemable for 1 bread. That is of course a major simplification, it would have to track a standard PCI basket of goods or something like that. The tricky part is who would back that and with what. Some governments are already issuing inflation-indexed bonds so I guess that's one option. Other than that, maybe commodity futures?
On direct security side, we focus on ISO27001, SOC 2, SOC 3 and PCI DSS. Outside of that there are many jurisdictions that have security requires we comply with that are for the most part just the same requirements written by different people in slightly different ways.
> Do you actually believe these transactions have high fees because of a tech problem that for some reason can only be solved with crypto? No, of course not. But at the end of the day you have fees. Regardless how negligible they are. On top of fees you have overhead expenses. I am one of those in charge of making sure the system works. And IT solutions behind every transaction are very high. Not just server / cloud solutions but people, support, software, etc. ​ Crypto is one of the solutions being experimented with. At the end of the day companies care about profit and profit. That's it. If it makes financial sense to move solution to blockchain they will push for regulations. Not in Garry Gensler way, but ISO / PCI compliance way. Most large banking systems have been experimenting with crypto, for a while now. Not is specific crypto, but blockchain tech overall. Its like any new technology. Looking how can it be used, if at all and will it bring the expenses down. Is XRP the solution? No idea. Probably not. But it does have a step in right direction - recognizes a problem and offers a possible solution. That is basically the jist of ecomomy - recognize or create a problem and offer a solution. As for banking systems in crypto - we are already very much here. Just not buying coins, but looking at tech. Who ever creates a problem and offers proper solution will make profit. I know we have a department working on development. No idea what they are actually working on, above my pay grade.
When you use your card to pay online, you have to input all the details you need to make a transaction with your card into that website in a non-encrypted format. <I originally posted a screenshot of adding a payment card to amazon but Reddit removed it> How can you deny this? I know the laws around PCI and e-commerce platforms, I work in tech. Are you saying you never use a card online, or what are you saying? You're still trusting the website to follow lawful practices if you use your card online.
Just depends how the vendor’s integration is set up. You can go with a fully white label approach where you do enter your card directly on the vendor’s site. Larger vendors tend to prefer this as it looks more professional than going through Stripe But of course those same vendors are very well aware that PCI violations are expensive and a chargeback rate of over 2% makes you a high risk merchant, so they won’t abuse that trust.
I mean, when you put your card details into a website, you have no idea what the website is doing with them. Sure it's illegal to store your details under PCI, but a frontend can be programmed however you want. If they were running a long con to collect details, they could absolutely do this. The whole 'verify transaction' technology never used to be so prevalent, but is the current way payment processors guard against this attack. With this added feature, it's much less dangerous to use your card online.
I'm fully aware of PCI compliance. US doesn't require 3d secure. The test transaction was a test as my MasterCard (my personal CC) has a similar setup requiring second authentication. But that only shows when I process online. For me, I manually entered it, and it went through. What country are you?
Jackpot Coin, Litecoin, Blackcoin, Worldcoin & Vertcoin. I had a rig full of 750ti that pulled 30w each, straight from the PCI slot on the MoBo, and I used to wait for Christian Buchner's latest cuda miner release for a hash rate boost to the moon. Man, if I knew then what I know now...
With Doge merge mining with LTC, most pools will take your Doge earnings and just add them to your LTC payouts. I perfer getting both LTC and Doge, so I use F2Pool - you can set up your preferences to get paid in both. Income is not high and I have mine set to eco mode (or whatever it is called) as there is only 1 PCI power input, which is my biggest complaint about these. I also do not mine for current profitability - I mine to support the network and for future profitability. So they pull around 600 watts total (200 each) and my hashrate is 435.00 MH/s right now. Every 4-6 days I get 0.02 LTC and 40-45 Doge.
I'd say the more fair argument would be to compare to the adoption of payment cards. For the longest time people paid in cash, checks, money orders. High value or international transactions were risky and absolutely required an intermediary. It was very slow to move money. Then in ~1950s payment cards were invented, at first were rather complicated, not commonly accepted, and saw little adoption until 1970s with ~33% market penetration/usage per capita. Then booming between 1970s in 1995 to 80%+ of businesses accepting them and people using them, and steadily increasing since. It was quicker to move money, as now it could be digitized/electronic, and utilized the internet, but an additional level of intermediaries are required(payment processors) and additional risk(cards being compromised). Now crypto comes around in 2008, and is slowly creeping up on adoption and usage. Not only is it digitized, it does not require any intermediaries, and international and large transactions can be done in seconds. Due to blockchain/public ledger, transactions can be settled much more quickly and efficiently with less overhead(accounting, recordkeeping, PCI compliance standards). We're in the 1970s in this comparison, and there is still quite a long way to go. The ability to trade securities online has only been a thing for approx 40 years as well.
There are very few certifications that have some real teeth to their audit process, ISO and many health and safety certs. Otherwise it doesn’t mean much. For example some supposed PCI compliant companies have been hacked and found to store either unencrypted or weakly encrypted credit card info.
No audit provides any guarantee of security whatsoever, almost every credit card breach has (for example) been from a PCI-DSS certified entity. All an audit shows is that appropriate processes are in place. Its possible to have great security and not be capable of passing an audit and its possible to pass an audit with questionable security practices. On balance those who get audited and pass with few non-conformities tend to take compliance more seriously - that however is not the same as security which is a binary thing i.e. everyone has it until they are compromised.
Tons of people use checks. It’s just easier sometimes, especially for local services like plumbing, fireplace repair, etc. and the cost of maintaining PCI infrastructure just isn’t worth it sometimes, even with something convenient like Square. Also, don’t forget “e-checks”
I understand perfectly, I have been in crypto since 2014, I know Monero removed ASICs. You are equating AMD/Intel to general purpose computers, this is a false equivalency. Look at your PC, how many parts are entirely irrelevant to CPU mining. Certainly all the peripherals, and therefore all the peripheral connectors. What about motherboard components, who needs m.2 or PCI. Why have DIMMs, why bother with an ATX layout, fans, just move to high density blades. At a certain point, the CPUs, start to discard instruction sets not needed for anything but RandomX, perhaps a simplified RISC style CPU. And so on.
I think the next important day is Tuesday 13 when PCI numbers are released. I think we could get a dump today or tomorrow depending how the market expects to see on that day. Personally I will just follow my DCA strategy as always.
Trading, a good way to lose your money. I use to DCA on Mondays but sometimes I move it to Wednesday depending the situation. I detected that sometimes when Fed or PCI data is going to appear it goes up and then down before the data appears.
This applies to credit & debit cards too tbh. PCI DSS uses a fair bit of encryption, and is a pretty complex security framework. You don't see people losing their minds over its complexity or resource cost though because it's developed to a point where people don't *have* to understand how it works to use it safely. Additionally, there weren't huge entities blowing millions of dollars on media campaigns against the technology. But please, don't let that ruin your pedantry
I don't know what to tell you other than to agree to disagree and that you're wrong here. Yes, mom and pop shops can have little PoS terminals that can communicate directly to the acquiring bank through use of P2PE solutions. There are also a whole slew of payment providers that may simplify things for smaller shops like that. A type of outsourcing in a way. But that doesn't change anything that I've said. The other key point here is that as a consumer, you really have no idea why type of merchant they are. Are they working with a P2PE solution and allowing a third-party to process card payments on their behalf, or are they opting to handle all card payments in-house? The PoS terminal is not always a great indicator of which type of solution the merchant is using and how/where your card data is being stored. In regards to PCI compliance, yes, in theory, any organization that stores or processes payment card data is supposed to be PCI compliant. But that is so far from reality. Less than 30% of organizations that handle payment card data are actually maintaining compliance. I have direct experience with several organizations that handle and store payment card data and are not PCI certified or compliant. That doesn't mean they're not following good security practices in general, but that the idea that all merchants or organizations that are handling PCI data are PCI compliant is false. It also doesn't mean that companies that are PCI certified are completely secure against exposure of your card data. Target, for example, was PCI certified and yet they were breached with payment card details exposed. And yes, that exposed payment card data was at risk for fraudulent transactions. Yes, ACH transactions require your institutions routing number and account number. Have you ever made an ACH payment for your utility bill, for example? You give your utility company your routing and account number and with that information they can pull money from your account automatically each month. Any time you set up an account somewhere for bank transfers requires the routing and account number. Anyone who gains access to that information can then pull funds from your account. Some institutions require the verification of a couple small deposits before allowing bank to bank transfers to take place as a safe guard, but that isn't a requirement and varies from institution to institution. That is why you also never want anyone to see a paper check to your checking account as that same information is on the front of those checks along the bottom and is extremely important that it remains confidential. You tell me to "stop lying", but this is just the truth and it comes from direct industry experience.
It absolutely is false information. It’s frustrating that you’re telling partial truths, and then you use those partial truths to spread false information. Merchants do not receive full card data except in one specific case. A device or an interface managed by a merchant acquirer is the one that receives the card data. This data is transmitted securely, and in compliance with lots and lots of regulations. Again, merchants do not have access to full card data and they don’t receive card data for payments unless they themselves are compliant with PCI and other regulations. You cannot take a single example to say that’s how the whole industry works. Especially when that one example is not most of the industry. Also, transmitted data is not at risk. This is again, false information. You don’t need to trust every merchant you interact with. This is exactly why the existing payment industry works. Yes, there is massive aftermarket for card data, but it has absolutely nothing to do with merchants that have access to card data. Stop lying. And yes, providing your full account number to anyone is a huge risk. This is extremely obvious but again, doing that has nothing to do with ACH transactions. You don’t need to provide your account number to anyone to do an ACH transaction.
It absolutely is not false informaton. While things have gotten better and in-person PoS checkouts through the use of EMV chips and tokenization, any time a card is swiped the merchant is receiving full card data and any online transactions where you enter your card information in the merchant is receiving full card data there as well. The result of this is specifically what took place with the Target breach back in 2013. I've worked with PCI compliance for many years, so I am very familiar with the types of card data being stored and how it must be stored. While certain card data is not allowed to be stored long term (like the card PIN or security code), the PAN is still allowed to be stored and the other sensitive data is still transmitted and at risk. Portraying this inherent design flaw in a way that pretends you don't need to trust every merchant you interact with with your sensitive payment data ignores one of the biggest drivers and cost of fraud today. There is a massive aftermarket for this sensitive information for a reason and this market gets this data from these data breaches where this data is stored. PCI DSS came about because of this very fact. Then there is ACH payments which are even worse from a security perspective. Providing your ACH payment information (routing and account number) allows anyone with that information to pull funds from your account. This system is used widely for recurring payments and a lot of fraud is a result of this information being compromised.
Here's their website, they can explain their features better than I can: [https://hedera.com/](https://hedera.com/) So while you are correct, databases are fast at inserting data and fetching data, what you don't get with databases is the ability to process a payment, or the distributed ledger the blockchain provides. I've worked in the web dev space for over a decade and credit card processing is a pain in the ass, especially if you want to do custom stuff and/or hold sensitive user payment data on your system you have to go through a whole PCI compliance nightmare.
This is a super weird take and it is not country specific at all - not to mention Coinbase has an international presence and international employees. Most financial companies or companies where there is sensitive access and strict controls in place (Anyone PCI or SOC compliant), regardless of the country of origin, have a policy where access is cut prior to notice of termination. It's par for the course.
It's because a PNY GeForce 9800GT 512MB DDR3 PCI, is going for 200 bucks. I bought a simliar card 14 years ago for 130 bucks. https://www.amazon.com/512MB-GeForce-9800GT-TV-out-Express/dp/B003YMFO6Q/ref=sr_1_10?crid=Y9YV8UIBDOFT&keywords=graphics+card&qid=1652295680&refinements=p_n_feature_five_browse-bin%3A2057480011&rnid=2057415011&s=pc&sprefix=graphics%2Caps%2C160&sr=1-10
That is an egregiously bad faith argument to make, frankly it's embarrassing. Compare the *per-transaction* carbon impact of the two systems, and then do the simple multiplication to scale BTC to centralized PCI systems. It is outrageously bad. You have the perfectly valid argument about how other crypto systems could achieve decentralization without all the electrical waste that comes with a PoW like BTC. That would be much more credible than "herp derp look at the global banking system" while ignoring that it handles several orders of magnitude more transactions.
I have worked as a software engineer in the digital payment space outside crypto from 2013 through 2021 and now work in crypto. I have integrated with every payment processor, many of the oldest and newest POSs, and had to handle many of the complex PCI certification requirements over and over and over. This announcement by Mallers is incredible. This is beyond huge. I cannot believe people aren't freaking out. If you connect that with the Taro announcement showing how btc is used to transfer but it settles in whatever currency you want I can't believe everyone isn't freaking. This is revolutionary
You can find a full breakdown here: https://www.merchantmaverick.com/the-complete-guide-to-credit-card-processing-rates-and-fees/ Larger companies have the ability to work directly with the processor (Visa/MC/Amex) but smaller companies need to go through gateways and other processors. Add in terminal fees, reporting fees, PCI fees and it all adds up. My $1 + 3-5% comes from the amount I currently pay for CC processing at the moment. With the amount varying based on which card it is, and the number of transactions per month. So it’s just a ball park estimate.
tldr; Scallop, a regulated DeFi banking app, has joined the PCI Security Standards Council (PCI SSC), a global community with a goal to improve payment data security worldwide. Scallop will be joining 800 other organizations in helping secure payment data worldwide by contributing DeFi-industry insights and recommending initiatives for the council. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
I wouldn't trust an Intel CPU to run a full-node since most feature Intel's "Management Engine": * Independent x86 core * Running Modified MINIX * Built-in Java Machine * Access to CPU/GPU/USB/DDR/PCI... * Works when main CPU is powered down * Code is burned in non-preprogramable die memory [Source](https://www.blackhat.com/docs/eu-17/materials/eu-17-Goryachy-How-To-Hack-A-Turned-Off-Computer-Or-Running-Unsigned-Code-In-Intel-Management-Engine.pdf) The NSA probably has zero days for taking over the management engine remotely.
Credit cards do not offer cash back. They offer cash advances charged at exuberant fees. Crypto.com offers up to 8% cash back for their debit Visa card.. in the end, merchants would prefer to use Blockchain ledger instead of visa ledger, as it's cheaper. Any perks offered by visa can also be offered by any other alternative. There is nothing propietary Visa is doing. Visa is ALL IN, trying to keep it's current position as lead monetary tracking service. One benefit of Visa is it's insured, as long as you follow PCI compliance as a merchant you are guaranteed compensation from Visa, and not liable for fraud. As long as you have fast transaction verification, you could accept various forms of crypto over Visa. BTC 1hr verification time is not ideal for retail purchases.
First off - enter key is your friend, use it. Second. CDC VISA card offering is merely one of its products. Heavlie marketed, but still just one. They also have full exchange. Phone app with easy to use ( but high margin ) market. DeFi wallet with staking offers. NFT market 100% of crypto stored is in cold storage. And lastly: Certifications and Assessments Crypto.com is built on a solid foundation of security, privacy and compliance and is the first cryptocurrency company in the world to have ISO/IEC 27701:2019, ISO/IEC 27001:2013 and PCIDSS v3.2.1 Level 1 compliance, and independently assessed at Tier 4, the highest level for both NIST Cybersecurity and Privacy Frameworks, as well as Service Organization Control (SOC) 2 compliance. Crypto.com has also engaged globally recognised security consulting and auditing firms like Kudelski Security to stress test and audit our core Blockchain systems. ​ There certificates are NOT easy to get. You need to jump a lot of hoops to get PCI cert and ISO cert.
“Crypto.com is built on a solid foundation of security, privacy and compliance and is the first cryptocurrency company in the world to have ISO/IEC 27701:2019, CCSS Level 3, ISO27001:2013 and PCI:DSS 3.2.1, Level 1 compliance, and independently assessed at Tier 4, the highest level for both NIST Cybersecurity and Privacy Frameworks, as well as Service Organization Control (SOC) 2 compliance.”
I work in infosec management and would absolutely never give out a SOC2, Iso or PCI report to a general user because it isn't worth the risk. These types of reports detail information that would be very useful to an attacker, and if you did something that got us compromised your entire net worth would probably not be enough to even cover the forensic investigation, let alone any real damage. Now if you said you would sign an NDA AND indemnify up to $10 million worth of damages, had cyber insurance and could evidence a robust security program you might get somewhere.
> Crypto.com becomes the first crypto platform to get SOC 2 certification. > And, ISO27001, ISO27701, PCI: DSS 3.2.1 (Level 1). > It also achieved the highest ‘Adaptive’ maturity levels for the NIST Cybersecurity Framework and NIST Privacy Framework.
The only long shot I can possibly think of, is if the value of this bitcoin was in the millions and you could source an expert IC plant to even take on the work. The way flash memory works is that their are about 10x bits as their are space shown by the IC's interface. And that is because the way flash works is each bit has a max read and write, and their is a memory controller which dynamically changes up what bits are written to. PCI POI certification actually take this attack into their calculations. Technically if you could locate a company with the ability to disassemble the IC in a clean room read bits directly off the silicon you might have a 50/50 chance of recovering most of your private key. That being said, if Trezor has a complicates storage mechanism like a salt and encryption then you would somehow have to convince Trezor to work with the lab. Which they wouldn't do, because then someone else would know. So it would have to be many millions to have it pencil out and would have an extremely small chance of success
Credit card companies generally require businesses to be PCI compliant before they are allowed to handle a customer's private credit card data. What he's saying is that being compliant requires closing **all** unnecessary communication channels, including the ones Bitcoin uses. However, these days, many businesses opt to outsource their payment processing to a third party like PayPal instead of handling it themselves. You don't have to worry about being PCI complaint if you never handle a customer's card.
I got nothing of substance I believe. One user wrote this before and I don't know what it means at all,; I block bitcoin (port 8333 and layer 7 application signatures) on the private class A network I run. (a class A is 16,777,214 unique host addresses). I have to [PCI compliance](https://www.pcisecuritystandards.org/). I bet you don't know what PCI compliance is heh? Is BTC PCI compliant for payment systems? not even close. Even if BTC core changes the port, I'll ACL it on the application signature which can't be changed. BTC is not running on our network. It's a very primitive application and absolutely easy to BOGON. I mean if an idiot like me can do that, I wonder what smart people can do.
If you mine on GPUs you can not use a Pi for control, you will need a real computer mainboard with PCI-E slots. I just mentioned it because you should be a little used to work on linux and command line when using HiveOS - even though almost everything is done over a web interface.
I target to go mainly for the 8 at max and want to get a 12 slots just to be sure and not close myself in the future, but I did see something right now, that this motherboard suppoer: \- 1 x PCI Express 3.0 x16 Slot (PCIE2: x16 mode)\* \- 12 x PCI Express 2.0 x1 Slots and I want to get 8 3060TI which has 4.0 x16, so won't it be like a major downgrade for the GPU?
SOX audits are barely going to touch the surface of security. I've done many myself, including for fortune 500 firms. I've actually considered applying to Coinbase to help them iron this stuff out honestly (know a guy there). I work in security and compliance. Typically much more in depth than Sox. SOC, PCI, HIPAA other security reviews etc. My current gig is pretty lucrative and at a huge stable company so hard to take the gamble on Coinbase. Also the business being done over the internet means next to nothing. Maturity of security is maturity of security. Most security incidents aren't discovered for many months after they occur, if at all. Especially at a immature org.
I don't have a youtube link, tbh it's not that complicated. You buy a mining frame, you put in basically any motherboard (I'm using 2 from some old gaming PC's I had in both of my rigs), get some very high end power supplies that have enough PCI-E power cables for what you need, and then slap in some graphics cards. That's the hard part really, finding the graphics cards.... I managed to get 4x 3060's at MSRP in February, mined ETH for a while, sold all my crypto during the crash in May at a profit, then mined RVN for 2 months and finally used all my crypto profits and some additional capital to expand and bought 6x 3070ti's. Realistically you're paying scalper prices, so make peace with that fact, lol. In the end, I've spent about $10,000 on mining equipment, and counting crypto I've sold and crypto I'm currently holding, have seen about 70% ROI, so I'm hoping within the next 2 months I break even, and then after that it's pure profit. Of course with ETH 2.0 coming out next year nobody knows what the future will look like,.. and maybe mining becomes unprofitable, but as long as I get my money back that leaves me with a lot of high end graphics cards that are probably still going to be valuable because of the silicon shortage, so that's a win-win. Jumping in right now with a major investment is significantly riskier. I'm not gonna say NOT to do it, but it's really hard to predict what's gonna happen in 2022 and beyond.
"About Crypto.com Founded in 2016, Crypto.com today serves over 10 million customers with the world’s fastest growing crypto app, along with the Crypto.com Visa Card — the world’s largest crypto card program — the Crypto.com Exchange and Crypto.com DeFi Wallet. Recently launched, Crypto.com NFT is the premier platform for collecting and trading NFTs, carefully curated from the worlds of art, design, entertainment and sports. Crypto.com is built on a solid foundation of security, privacy and compliance and is the first cryptocurrency company in the world to have ISO/IEC 27701:2019, CCSS Level 3, ISO27001:2013 and PCI:DSS 3.2.1, Level 1 compliance, and independently assessed at Tier 4, the highest level for both NIST Cybersecurity and Privacy Frameworks. With over 1,800 people in offices across the Americas, Europe and Asia, Crypto.com is accelerating the world’s transition to cryptocurrency."
I'm also bullish for the following reasons: - Biggest crypto burn in history, committing to more decentralisation - Crypto.org DeFi launch with CRO at 14% APY, more decentralisation - Probably the most compliance crypto platform and most secure: ISO/IEC 27001:2013 ISO/IEC 27701:2019 PCI:DSS v3.2.1, Level 1 compliance Cryptocurrency Security Standard (CCSS) - Most complete crypto cards in general, with tiers for everybody, from free up to for people with deep pockets - Never hacked (so far) - Fastest growing crypto mobile app in both Android and iOS - Domain name - Most complete and easier crypto platform out there, perfect for mass adoption - Partnership/Sponsorship with UFC, F1, Aston Martin F1 team, Italian football league, Canadian Hockey... - NFT marketplace already live and active - EVN side chain and Smart contracts to launch soon - Exchange to be available in the US Q4 this year - I just enjoy using Crypto.com metal card with 3% cash back, Netflix and Spotify reimbursed, getting 6.5% in BTC and ETH, 12% in stable coins, using Crypto.com app and Crypto.org DeFi app (there is also now the Crypto.com Exchange app) with 14% in CRO. It's just awesome to use I don't recommend it for traders though, there are cheaper exchanges. DeFi staking could be easier, I prefer the more passive approach of Tezos and others for example. It's by no mean difficult though.
If nothing else I look forward to the gymnastics and parkour attempts they're all going to be in as they attempt to run through the PCI-DSS/PA-DSS types of obstacle courses... If I didn't hate them all so much I might have figured out how to make money from helping navigate, but instead I'm going to sit back and enjoy their struggles! I hope they lose billions.
I actually agree with most of what you said, but disagree with your first paragraph. Correct <.000001% of the population needs to know how to build a currency or how hashing works for it to function. Just look at PCI in place today. However, on the other side, a basic understanding is required especially with an incumbent offering already in place that the majority of the first world is happy with. In your amazon example, shareholders wouldn't keep purchasing shares at higher amounts than their revenue suggest the company is worth unless they can understand why the company should be evaluated at a higher amount and be able to track the progress of those industries and innovations. Amazon's differentiators here are easy to follow law of large numbers, supply chain, and technology, etc. The VAST majority of bitcoin owners don't understand anything about blockchain or how the goals of the technology. the majority are only invested because of hype surrounding the ROI over recent time and talking points used by people in support of the technology attempting to explain its growth after the fact. And this still ignores that many new adopters don't even own their coins, but instead a share corresponding to a coin and can never contribute to transactions. My original point of the thread is the lack of a basic understanding of the technology allows the public to buy in increasing the valuation of the currency in hopes of replicating the results of previous investments without actual adoption. Without true adoption, meaning transactions for goods and services, and interoperability throughout the tech world, I'm suggesting that the ROI being seen in the past ~8 years is not sustainable, and if so average ROI will drop and the majority of the population will liquidate their holdings.
Nice story, you're probably right about the mining rig being a more expensive way of accumulating crypto than just buying. But if you have cheap electricity then it's great fun. I used to mine LTC and a few other alts back around 2015, One rig had 3x radeon 7950 cards, then I had another one with a couple of random ebay cards - I had a GTX 480 in it at one point which was funny because it was so hot and loud. But back then the scrypt hashing worked better with the AMD cards. There was a 7970 in there too at one point, with another AMD card. These were just rigs built in plastic crates, with PCI spacer ribbon connectors and homemade wooden brackets to hold the cards up high for optimum airflow. And they were cool to build, and to run. But the summer of that year was pretty hot, so my room became a sauna (even with desktop fans pointed at the rigs, and the windows fully open). Eventually I mined about 10 BTC worth of alts, and decided to stop as I was spending so much on power. Sold most of the cards on ebay, kept a couple of the 7950s in crossfire for gaming on my main machine. but they got replaced with a GTX 970 (because crossfire was annoying for gaming), now I've been using a GTX 1080 Ti for the last 3 years or so. But I don't bother mining anymore, I've been making more money trading/staking/hodling because of power costs. But if you enjoy building PCs, it's a hell of a lot of fun to get into mining. I would recommend it as a hobby for sure, especially if you can get cheap power. You could even set up some sort of solar powered system which would be interesting, but again probably a more expensive method. Good luck!
I use my main PC for it but I don't really use my main PC for anything else at the moment and it has two PCI-e slots. Sadly I do pay for my electricity and I'm in the u.k so we have it pricey as. And I like the spilt I may steal it and copy it. And how do you stake coins? Sorry if that is a totally stupid question.
Are these not facts: * Number of new wallets address falling * Number of active address is now year to date bottom and falling * volumes are very low. * G7 conference bad news expected * USA PCI data was bad. bearish * Smart money left near the peak and not coming back * Institution money is not coming. only some retail action * No more stimulus checks * Covid is gone. money is again flowing to other sectors * etc. etc. Is that not enough evidence? I have given more in my posts.
Analysis is probability. Not certainty. We analyze odds. Go see my posts please. I have given detailed analysis for short term bear, long term winter, and far future analysis in my posts. I am not just talking. I have presented facts many times. Summary for you: * Number of new wallets address falling * Number of active address is now year to date bottom and falling * volumes are very low. * G7 conference bad news expected * USA PCI data was bad. bearish * Smart money left near the peak and not coming back * Institution money is not coming. only some retail action * No more stimulus checks * Covid is gone. money is again flowing to other sectors * etc. etc. Is that not enough evidence? I have given more in my posts.
We talk in probability. Not certainty. We analyze odds. Go see my posts please. I have given detailed analysis for short term bear, long term winter, and far future analysis in my posts. I am not just talking. I have presented facts many times. Summary for you: * No of new wallets address falling * No of active address is now year to date bottom and falling * volumes are very low. * G7 conference bad news expected * USA PCI data was bad. bearish * Smart money left near the peak and not coming back * Institution money is not coming. only some retail action * No more stimulus checks * Covid is gone. money is again flowing to other sectors * etc. etc. Is that not enough evidence? I have given more in my posts.
Data is bleak. * No of new wallets address falling * No of active address is now year to date bottom and falling * volumes are very low. * G7 conference bad news expected * USA PCI data was bad. bearish * Smart money left near the peak and not coming back * Institution money is not coming. only some retail action * No more stimulus checks * Covid is gone. money is again flowing to other sectors * etc. etc. Is that not data?
Because Bitcoin is very bearish. If it goes down, alts have no chance. * No of new wallets address falling * No of active address is now year to date bottom and falling * volumes are very low. * G7 conference bad news expected * USA PCI data was bad. bearish * Smart money left near the peak and not coming back * Institution money is not coming. only some retail action * No more stimulus checks * Covid is gone. money is again flowing to other sectors * etc. etc. So all the above suggest a long crypto winter has started. You can be a bag holder for a long time. too risky.
A Sabrent Rocket 2TB PCI-E 3.0 NVME has a TBW of 3115. A 2TB NVME, on the more generous side, can plot 3TB a day, which equates to 7.17TB of writes. That means it would take 1 year 3 months to reach the TBW on that drive, assuming you can continue to buy hard drives at that rate. It is by no means as green as they're making out. However, media and reddit in general has massively exaggerated the consumption of drives by Chia.
Interesting, PCI compliance isnt a normal thing to be on the know about. Which Processor Handler do you work for?? I'm a Data Analyst/Developer Admin that manages a Gateway for a major Networking transaction firm. We are PCI compliance as well. I like coming across another person in the industry. Of course I'm assuming all this, you may just be a PCI compliance educated person, lol.
LOL. This is PCI (Payment Card Industry) violation. Whatever your local laws are, if your bank accepts Visa, they violated regulatory compliance agreements. You can sue them. Also, if you live in the US, EU, or Canada, what the school did is illegal.
>CPI is misleading though. The real inflation rate right now is pretty high. Equities just absorbed most of it but we may see regular goods go up later. Isn't this exactly the response I predicted in the post you're replying to? Suggest a superior measure of inflation than CPI. There are plenty of alternatives. PCI, PPI, HCPI. Just saying "equities" is not a measure of inflation, especially since the majority of spending in the economy isn't people buying equities. >Why do you think all these large companies and banks are converting their cash to BTC as an inflation hedge? No one uses a highly volatile speculative asset that frequently drops 20-40% for no apparent reason as a "hedge". The last time the market tanked BTC also tanked. That's the opposite of how a hedge is supposed to work, and opposite to all the predictions about how bitcoin was a "safe haven". It's exactly how you'd expect a volatile speculative asset to behave though. No one describes hedges -which are intended to minimize risk of losses- with "don't invest more than you can afford to lose". No one HODLs hedge TO DA MOOON. This is just co-opting existing financial terminology like "store of value" and applying it to crypto to make it seem more than it is.
Hah yeah, I think it was the voodoo Banshee that I got, if I remember the Voodoo 2 was available but I needed the one with an AGP interface rather than PCI. Because the agp cards were faster back then if I remember, and my mobo happened to have an agp slot. God, when I saw that texture rendering for the first time, where there would normally be a pixellated texture, the card rendered them at a higher resolution so everything looked incredible. Those were the days man...
Because you dont just issue a card. You need to interact with PCI which is highly regulated else you cant transact on the network unless we transact how it was always intended: crypto to crypto. We already have that but merchand adoption seems to lack a little....
I used to manage the IT and POS equipment in a fleet of mall-based retail stores in the US. The payment processor was Chase Bank and we were supplied with their payment terminals (this was handy from a skimming scam standpoint, as the store would receive the device direct from Chase with tamper stickers and the like). The POS was configured to talk with the payment terminal and would really only send the sale total to the device. Due to payment card industry (PCI) standards, cards were ONLY processed on the supplied terminal which encrypted and sent the data to Chase's infrastructure to process (no card data allowed to be stored on either the terminal or the POS). The terminal would then receive a response (approve or reject) and the POS would print out the receipt (or not if the transaction didn't go through). I think initially, crypto would have to be made an option at a major processor like Chase in order to get retail stores to start adopting. It would be a really hard sell to convince a national chain to carry a separate payment terminal in all of their stores just for crypto. The sheer amount of logistics and costs that goes into adding just 1 additional device to a store POS configuration is a deal breaker unless it will improve efficiency or reduce costs.
Google Translate from Korean to English: Interview with Kim Young-il, Team Leader Danal Fintech UnionPay and mobile prepaid card launched...Bitcoin payment support from April “Considering support for stable coins linked to KRW following iKON” 210769 Article 1st image View larger image Danal Fintech, which supports simple payment of Bitcoin (BTC) for the first time in Korea through'Paycoin', a virtual asset payment platform, will support iKON (ICX) as a payment method within this year. It also plans to support various types of stable coins, including KRW-linked stable coins, as a payment method. The goal is to drastically lower the threshold of simple payment for virtual assets through this. Danal Fintech team leader Kim Young-il (pictured) met with D'Street on the 25th of last month and said, “I plan to add ICX as a Paycoin payment method within this year. In addition, we are considering adding a stable coin linked to KRW as a payment method,” he said. “We will provide a virtual asset service that can be easily accessed even by users who are not interested in virtual assets.” “Expanding the use of Paycoin through collaboration with UnionPay” Paycoin provides simple payment services such as Kakao Pay and Naver Pay, which are commonly known as blockchain-based payment platforms. The difference from existing simple payment services is that payment is possible with virtual assets such as Bitcoin. Paycoin was particularly noticed last month by revealing that it supports bitcoin simple payment through more than 60,000 Paycoin affiliates in Korea from April. Regarding the recent attention, “Bitcoin has also attracted attention as an asset as the interest in digital assets has grown recently. It seems to have attracted great attention. As indicated in the white paper, our initial goal is to support simple payment through various virtual assets, and we will continue to think about that direction in the future.” 2nd image of article 210769 View larger image After adding Bitcoin as a target for simple payment, it is focusing on securing users, the core of the simple payment business. It has expanded the use of Paycoin to the public range. On the 24th of last month, Danal launched the'Danal-UnionPay Mobile Prepaid Card' in partnership with UnionPay International. Any Korean can obtain and use the card from the Danal UnionPay prepaid card website and Paycoin app. Specifically, users can convert bitcoins, etc. owned by users from the Paycoin app to Paycoin (PCI), a virtual asset of the same name, and use them after charging in KRW. PCI is a virtual asset that can be used within the Paycoin platform. "The recharging method of the prepaid card released with UnionPay is PCI," said the team leader. He said, "Currently, we support payments centered on offline merchants, but in the future, we plan to support overseas merchants such as Amazon Shopping and iHerb, which are UnionPay online merchants." In addition, it plans to support virtual asset financial services and commerce (stores). All of these services will be provided within the Paycoin app, and through this, the plan is to increase the time spent in the user app. “We plan to support decentralized finance (DeFi, hereinafter DeFi) such as bitcoin deposit service within the Paycoin app.” I will.” It is explained that it is part of this plan that it signed an MOU with virtual asset finance company Delrio in July of last year. Continue collaboration with iKON… Bitcoin Daum supports ICX Collaboration with iKON team is also active. It started with the investment of Danal Holdings, a subsidiary of Danal. Danal Holdings made a strategic investment in ICONLOOP, a blockchain company in July last year. Based on this, Danal Fintech signed an MOU for joint development of a virtual asset-based financial service with “Belrick,” an icon-based financial platform, and is also participating in Pyrep, which represents the entire network of icons. “We are looking for a collaboration point where both companies can exhibit synergy as well as simply participating in the ICON ecosystem. Both companies agree on the vision that all assets will be tokenized in the future. We are also working on the direction of how to support payments with us.” After supporting the easy payment of bitcoin in the Paycoin app, ICX, iKON's cryptocurrency, will be added as a payment method. "We plan to support ICX after Bitcoin," said Kim, and said, "We will add various kinds of stable coins including KRW-based stable coins in the future." He added, “In the first half of this year, we will focus on supporting various virtual assets as payment methods with the launch of UnionPay prepaid cards.” 210769 Article 3rd image View larger image [Photo=Paycoin (PCI) real-time monitoring screen installed in Danal Fintech office in Bundang (provided by reporter Jiyoung Ji)] The virtual asset PCI used in the Paycoin app rose 2000% on the 18th of last month and traded for 5,000 won per piece. At 1 pm on the 4th, the PCI of Upbit, a domestic cryptocurrency exchange, is trading at 1465 won, down 4.55% from the previous day. Regarding the soaring PCI prices, Kim said, “There is no such thing as the spike in prices recorded last month that affected the progress of the business. He said he was doing the same business as he was doing,” he said. “Because we are receiving high interest as much as the price increase, it is also a stimulus to work harder.” “If you look at the recent App Store rankings, Upbit, K-Bank, and Paycoin ranked 1st, 2nd and 3rd side by side. This suggests that even those who were not interested in virtual assets have become interested in the recent market conditions.” He emphasized that Danalfintech's identity is to create a virtual asset service that they can use easily and safely.