So you may have heard the news that there's a fund called Grayscale Bitcoin Trust which holds Bitcoins and is tradeable. The idea is that it's a proxy for holding Bitcoin yourself and then having to manage risk of theft etc by yourself. However, Grayscale were denied the right to operate as an ETF by the SEC. Since there wasn't an easy mechanism to convert Grayscale units back into Bitcoin, this led to a substantial discount (25%?) developing on Grayscale relative to the value of their Bitcoin. With an ETF, this would be arbitraged away. Matt Levine talks about this in a newsletter today, it's worth a read. Now, a court has just overruled the SEC and stated that Grayscale can be turned into an ETF. This has caused a big rally in Bitcoin (~ 7%) because ANY BITCOIN NEWS IS GOOD NEWS FOR BITCOIN. It has also caused a rally of about 16% in Coinbase. However - KEY POINT OF THIS COMMENT - a moment's reflection will reveal: 1. Arbitraging the Grayscale unit price against Bitcoin to remove the discount, involves selling a LOT of Bitcoin. This is actually rather bad for the price of Bitcoin, to have a whale offloading a ton of them suddenly. 2. If Grayscale is a nicer alternative to holding actual Bitcoin, what do you need Coinbase for? Therefore I believe the rally in both Bitcoin and coinbase will reverse throughout the week.
I only read the title cuz fuck reading ur novel, but there’s a simple answer.. THATS THE WHOLE POINT OF CRYPTO lol there’s no babysitters or authority figures. We can do whatever we want. It’s not like scammers are brute forcing to steal funds. People are literally, in every sense of the word, handing their money to scammers. If u get scammed it’s ur fault and nobody else’s. If u want protection, refunds, and someone to be ur babysitter, u can just use TradFi. Banks have wonderful insurance policies
> I agree with you that trust in a private company is surely a thing that should be minimized as much as possible. But their spending is really covered in the transparency reports AND THE PUBLIC WALLETS ADDRESSES. And nothing in their behavior raised concerns. not yet :) Their transparency reports are extremely vague. Literally about a page long Have you read them? And again, you have no reason to trust them because they could keep things out of the report or straight up lie...they are a private entity. They don't even say how much is spent on salaries of Algorand Inc. employees or running the business. Or how about what happened to the money that they made on selling Algo in the first place? Where did that money go? And once again, you don't even know WHO owns Algorand Inc. Because with a private corporation whoever owns that corporation owns the assets of that corporation. So the owners are the true owners of that Algo. Who are they? If you agree that "that trust in a private company is surely a thing that should be minimized as much as possible" then this should made you very upset. Because this isn't minimizing trust. This is a HUGE amount of trust. Keep in mind that Algorand Inc has no much ALGO that they control governance. They have already swayed votes into their favor. > Yes we know where the money is because the wallet addresses are public and disclosed Oh but you are right....they literally have a whole list of addresses you can look up. It doesn't tell you anything except they control those wallets. So yeah, they still have plenty of Algorand. They can still sell that off, pay themselves huge salaries, and if Algorand goes bust Silvio will walk away a multi-millionare. What I say stands.....Algorand is centralized around Algorand Inc. A private corporation which no one knows who actually owns it. You have to trust that Algorand Inc will decentralize overtime. In a space where the ENTIRE POINT of crypto is trust-less decentralization....I literally can't understand why people would invest in something that requires TRUST.
Yup. Agreed on all counts. What people in crypto space seems to fail to grasp is the moment you introduce RWT to your game, and make that a HUGE FOCUS POINT in it, you're dooming your gamer population as degens will flock to it to try and extract as much money as possible. None of these game projects ever seem to take that into consideration...
No I dont I love video games but as I've gotten older I dont have the time to play as much. Being financially motivated to play more would help me get back into gaming. Why waste ur entire life glued to a screen and not even get something out of it other than just entertainment? Wouldn't u like to quit ur job and make money playing video games if u were good enough at a certain game? Ik I would. So what bro seems to me the concept worked pretty well in Ready Player One Haha and they beat the sweatshop labour and bot coders. Again they will have ways to stop u from doing that though. Sure Steam is great but THATS NOT THE POINT. People want to earn money playing video games without having to be some stupid fucking famous streamer 😂 or part of some MLG clan is that too much to ask for?
Mtgox lost funds refund of 10,000 BTC @ 30k price, and returned to their victims. Huge selling pressure to 20k, after the news is released, the ignorant people will FUD because they doesn't even know how to calculate the marketcap, and so the newspaper and media will spread the FUD making the investors flee away, therefore the altcoin market will collapse and we will see new lows, then THIS IS THE BEST POINT TO BUY ALK WHAT YOU'VE GOT and start a bull market.
Nuclear weapons have had ranges that can reach literally the entire globe for decades now, back during the Cuban missile crisis it was a problem because both sides had far more accurate intermediate range missile systems which is no longer the case, secondly as someone else pointed out the baltics are far closer, thirdly russia invaded ukriane back in 2014 which predates nato support and would also guarantee that ukraine can't join nato (which funnily enough will likely be fast tracked after), fourthly why does Russia fear of being invaded and encircled count as a good reason to invade another country but ukraine litteraly being invaded by Russia in 2014 is not a good enough reason for them to be allowed to seek out foreign guarantees of their independence, why do all the Russia supporters place Russias right to not feel threatened above literally any other nation. Lastly I'm not sure why I'm even having this debate because it's over who's side is worse when one side has LITERALLY INVADED AND OCCUPIED INTERNATIONALLY RECOGNISED BORDERS TWICE AT THIS POINT HOW MANY TIMES DO THEY HAVE TO INVADE UKRAINE BEFORE YOU PEOPLE START TO SEE THAT MAYBE THEY ARE JUST IN IT TO GAIN LAND, like seriously from all the shit we can see its so blatantly obvious that A) they wanted sevastapol as a black sea port and B) they later wanted a land bridge to said port, this isn't even up for debate just look at the map of occupied territories for God sake.
How things work: 1. A new market space appears. 2. For a certain time, that space is given the opportunity to self-regulate. 3. That space never self-regulates, and degenerates into a hive of scum and villany. 4. The SEC (or other government institution) comes in with the big guns, and forces regulation. Every single time, this is how things go down, and it was entirely predictable. The crypto space has been rife with scams, rug pulls, Ponzi schemes, shitcoins, NFTs, constantly moving the goalposts between currency and security, trying to skirt the edges. It was only a matter of time before the regulation hammer came down with vengeance. Also: > No one wanted lack of regulation **FOR YEARS THIS WAS THE MAIN SELLING POINT OF CRYPTOS.** You can't just change the narrative now. C'mon man. Decentralize, no regulation, free market space! I 'member. Do you 'member?
What is the point of your argument? You are basically saying smart contracts are not trustworthy enough. Then defi, Ethereum, arbitrum and anything but bitcoin are pointless then. Why would anyone trust a foundation over a smart contract? Why wouldn't you trust crypto software engineers to write a smart contract? Do you know what a smart contract is? (While you are calling people bozos). "You have too much faith in technology" what kind of comment is this? THAT IS THE POINT OF CRYPTO. What are you even doing in this space?
> even though you were just using them to support my argument. So what do I gain from reading them, when you don't even know what you're using them to refute? You're editing as I'm replying, so I'll address this edit separately. I don't think the IPO documents support your point, assuming that your point was that they were an admission of a crime that warranted prosecution upon filing. For starters, the SEC, or any regulatory or prosecutorial body for that matter, doesn't move that quickly. They take time to find evidence, research, etc. before filing a case. But setting that aside, the IPO documents convey the RISK of enforcement action. They don't say "Hey, we're doing something illegal over here!" They say "We're dealing in an area that hasn't been well founded in terms of what is a security and what is not. We employ our own process of trying to figure that out, and we think we're doing a pretty good job. However, with that being said, we understand that our process is not the same as the legal entities that make these decisions, and we may get some of these wrong. We have no intention of registering with the SEC as an exchange for securities or as a broker dealer, so if we *do* get some of these classifications wrong, we may be looking at enforcement actions and fines. These could be big fines, they may really affect our business in a bad way, and they are a big risk for you, as an investor. So be warned that this is a risk we're taking before you invest in our company. We acknowledge the risk, we know if could be a really big deal, and so should you." MY POINT is that you can't include a disclosure like that in the document and then say later "WELL YOU SIGNED OFF ON OUR BUSINESS PLAN, WHAT THE HELL?!" Your business plan expressly ackowledged the risk- now the risk is coming to bear, don't act all butthurt and surprised.
Okay, so now that people have heard the same viewpoint Ledger PR has put out but from a youtube hacker, it’s more acceptable now? His explanation doesn’t change any of the potential attack vectors and concerns people have brought up the past couple days… On top of that, it doesn’t change the fact that Ledger lied about the capability of the wallet to send your key over the Internet. I think most people understood the benefit, but the reason the majority bought Ledgers was for SELF custody. We wanted to be responsible for our keys, not someone else. That’s the WHOLE POINT of this device. Ledger recover is really only slightly more secure than leaving your coins on a popular exchange. Imo if you’re a noob that wants a company to hold your password in case you forget, just stick with Coinbase/Binance.
Incorrect. The hardware wallet receives a message that it signs with it's cryptographic key, which itself should never be available to the client. The key must be completely unavailable to it's host computer, otherwise it's not any better than a hot wallet on a PC. I repeat: The ENTIRE FUCKING POINT of hardware wallets is to PROTECT THE FUCKING KEY.
>Like this for example, total nonsense as the Texas energy grid DOES NOT run on 100% renewable energy, the numbers are literally in the article and they don't even try to dispute them or even provide any sources of numbers Huh? No one is claiming Texas energy grid runs on 100% renewable energy. You are confusing energy consumers for energy producers. They're not the same thing. Maybe read your own quote again? Bitcoin mining does not produce CO2 emissions. This is a fact. It's a data center just like Google or Facebook. >This is completely irrelevant as that doesn't decrease the amount of energy and the amount of fossil fuels that got factually burned. How much energy is used is irrelevant. Miners are consumers just like anyone else purchasing electricity on the open market. The fact that they can buy wholesale helps develop renewables. >Then the twitter thread lies about what "decreasing wholesale market prices" refers to. It refers to comparing the same energy consumption with peak reduction to without. It does not at all claim that if those operations wouldn't exist prices would be higher, quite the opposite. That is extremely dishonest. Prices go UP from increased demand, not down. Increased demand causes supply to go up. Jeezus you need to review economics again. >NOT A SINGLE POINT challenges the numbers used in terms of fossil fuels burned, energy used or any other numbers. All it does is make some extremely irrelevant rephrasing points by shifting the goalposts of comparison. Multiple points were challenged and debunked. I presented multiple sources of info to you and you failed to counter any of them.
Ahahahahhaa, what you posted is an insane joke. Just look at your links and read how much they cope. >To be clear, our Bitcoin mining operations do not generate any greenhouse gas emissions, similar to any other data center for Facebook, Amazon or Google – yet we have been singled out. Our data center uses electricity from the Texas grid, which is the cleanest and most renewable energy-sourced grid in the United States. Like this for example, total nonsense as the Texas energy grid DOES NOT run on 100% renewable energy, the numbers are literally in the article and they don't even try to dispute them or even provide any sources of numbers. And a whole bunch of distraction. > Unlike other industries, we can shut down at a moment’s notice, making power available to other users and critical infrastructure during extreme weather events This has nothing to do with how much energy they used. >We are especially proud to be the largest employer in Milam County, Texas, and that our dynamic and talented workforce is spurring economic activity that is strengthening the local economy. This has nothing to do with how much energy they used. So basically one obvious lie with no sources to back it up and 2 PR statements to distract. And your "debunking thread" makes the same bullshit arguments. >because they provide energy grids with flexible loads that can be instantly turned off when demand increases so power can be quickly redirected to people who need it. This is completely irrelevant as that doesn't decrease the amount of energy and the amount of fossil fuels that got factually burned. Then the twitter thread lies about what "decreasing wholesale market prices" refers to. It refers to comparing the same energy consumption with peak reduction to without. It does not at all claim that if those operations wouldn't exist prices would be higher, quite the opposite. That is extremely dishonest. Prices go UP from increased demand, not down. NOT A SINGLE POINT challenges the numbers used in terms of fossil fuels burned, energy used or any other numbers. All it does is make some extremely irrelevant rephrasing points by shifting the goalposts of comparison. Debunking means you show that factual claims are wrong. But they don't do that, they agree with all the facts but complain about the phrasing and "how the author makes it sound". None of the facts or numbers are disputed. This is not what debunking means and you clearly did not critically think about this. You're listening to bagholders desperately trying to misinform you.
its not perfect but like, thats the whole point yno. yeah bad stuff happens, do not interact with it without knowing the risks. people want it to be homogenized to protect peoples feelings and wallets but it diminishes the entire POINT of crypto dumbing it down to a literal stock with a bit more fluctuation.
>You can't even begin to imagine a real currency collapse. The truth is that your scenario is a made up fairy tale in your own mind because your a miserable person who wants others to suffer like you How the fuck would you know? you know nothing about me. I have family in Lebanon and in Russia so, yeah I'm quite familiar with both fiat collapse and with war. "Bitcoin would not be worth Jack shit if the US dollar collapsed. That's a stone cold hard fact!" How do you determine that?! The whole POINT of Bitcoin is it is a hedge against the USD, broken fiat system. When the USD collapses (not if, WHEN) only hard assets will have any value. Because of it's unique properties - Bitcoin especially will have tremendous value - that is my expectation and my bet. You don't agree? Cool - you do you bro. But I don't claim my bets as a "stone cold hard fact" because I'm fucking HONEST that I don't know the future. It is hilarious and you expose yourself and your immaturity by claiming it to be a "stone cold hard fact" that YOU somehow DO know the future and Bitcoin won't have any value! You're clearly addicted to your high time-preference, fiat-based toxic lifestyle. I get it - 'most people are not ready to be unplugged from the system. And many of them (like you apparently) are so inured, so hopelessly dependent on the system, that they will fight to protect it.' Look, you don't like Bitcoin? You think it's going to boil the oceans or whatever doomsday fantasy you masturbate to? You think it doesn't fix anything? Good for you - go back over to your pathetic little /buttcoin sub and cope and seethe over there. And leave the rest of us the fuck alone as we continue to make the wise decision to store our wealth in the hardest money ever invented, that can NEVER be corrupted or controlled by any government or central authority, that is secured by a wall of encrypted energy, that is 100% neutral, that can move literally billions of USD (as a courtesy to you, I'm "pricing" it in USD - something your feeble fiat-brain can understand) worth of value anywhere on the planet at the speed of light and at minimal cost.
Every time I see Schiff mentioned on here I feel obligated to post as someone who also buys gold and silver, so let me remind you of this... People here keep forgetting Schiff's first comments (that I could find on the Internet) on Bitcoin were when it was under $1k, even. Here's an actual quote: > "To me, it looks like a modern-day Tulipmania... I don’t see bitcoins as an alternative to gold. If anything, [the creators of bitcoin are] modern-day alchemists, but you can’t make gold digitally. It’s no better than a fiat currency." -- Peter Schiff, Squawk Box, November 12, 2013. Bitcoin's price was ~$375. He went on to talk about how it was a "bubble". It certainly was bubbling in November of 2013, but after it popped below $1k it fell slowly to $160 by mid-January 2015. It's important to note that if you would have purchased Bitcoin AT ANY POINT during this 2013-2014 bubble popping, you would still be up at least 20X on your investment today. Bitcoin then went on a huge three year accumulation before having another bubble pop in 2017. It never dropped back down to $375 again, let alone below $1k. Bitcoin is anti-fragile. It's unique. I don't know how someone like Schiff, that has followed Bitcoin for SO LONG that he's watched it survive not just one but two bubbles would honestly think that it won't survive a third bubble. Technically you could argue that this is the fourth bubble or super-cycle. But in any event, there is absolutely no explanation as to why Peter Schiff still irrationally calls Bitcoin dead or dying unless he's being intellectually dishonest. In the entire 13 years of BTC's existence, Gold really only beats Bitcoin only if you were unfortunate enough to have bought Bitcoin during the last bubble. And it's been that way for only a few years in the entirety of the 13 years of Bitcoin's existence. It always recovers and hits new highs and it has its scarcity to thank for that. It may take time for even the Gold bugs to get it, but Bitcoin is far more scarce than Gold. Based on asteroids like 16 Psyche or 101955 Bennu (both rumored to have metals and possibly even rare metals) and the future for my commodities holdings seem perilous in comparison, honestly. How anyone can honestly think Bitcoin isn't going to eventually recover when it's an algorithmically-scarce resource by design is beyond me. They either don't understand economics or they're willfully ignorant or pretending as if they are ignorant.
Jan 3rd, 2009, a fake internet currency called “bitcoin” was released along with the following statement in Block 0: ”The Times 03/Jan/2009 Chancellor on brink of second bailout for banks” https://blockchair.com/bitcoin/block/0 LITERALLY THE POINT OF BITCOIN’S EXISTENCE IS BANK FAILURES.
It's such obvious sarcasm, but some people just bother the read beyong the first few words. THE POINT I MADE IS THAT BITCOIN IS THE ONLY THING THAT WORKS IN 2/3-WORLD COUNTRIES. Guess I have to spell it out so even the dumbest among you understand next time.
I don't know why you're saying I missed the point, you clearly fail to grasp the concept you were posed with. > Will people stop purchasing their iphones, night out at restaurants, stop buying cars, stop buying nice clothes, and reduce spending and only buy the cheapest stuff possible, even if they had the money? Just because the currency was appreciative? Yes, they would buy less of all of these things, absolutely. Because toilet paper currency which is highly capable in facilitating transactions is no barrier to transaction or purchase decisions. > People might have a little more savings, but the spending habits wouldn't change much. Money is money. And people's greed, people's needs, people's consumerism isn't gonna change that much. "Savings" - AKA, money neither spent nor invested. AKA, less spending and investing. > And here's why it wouldn't make much of a difference: currently people are already using CDs, ETFs, stocks, and investment to escape the inflationary effect of fiat. Correct, WHICH IS THE POINT THAT YOU ARE CONSISTENTLY AND INTENTIONALLY AVOIDING. CDs, ETFs, stocks, and investments are economically optimal alternatives to holding currency. Holding currency should never be the goal, it has zero economic productivity or utility when hoarded. You want to incentivize people to spend or invest, not hoard. > So that incentive already exists. It exists today because you are disincentivized from hoarding currency, an appreciating currency would remove or reduce that incentive. Which is again, the point. > If they used Bitcoin instead, the only difference is they could park some of their investment money instead of having to move it. No, because bitcoin has zero economic productivity or utility when held / hoarded. People would be incentivized to park their money in something that is economically destructive instead of economically productive / optimal. THAT is the difference. THAT is why an appreciating currency is bad. > So it's already the same dynamic, with really a difference of moving or not having to move money. But the incentice, behavior, consumerism, etc... all remains the same. No, it's an entirely different dynamic, as I've explained. THEN, you need to make sure you add the business lens. Where business spending and investment is also a critical part of the economy, and an appreciating currency disincentivizes both spending and investment for businesses.
When I specifically respond to EVERY SINGLE POINT, I expect nothing less than a discussion on those points. Joining a conversation of others spouting "I WANT MORE INFO WAHH" is useless. At least join the discussion by bringing your own thoughts on what I just wrote, and then use that to incite more discussion...simply ignoring my entire post because you are too ignorant to understand it won't get you anywhere. If you are confused, try to specifically quote & respond to what you are confused about....
But THAT IS THE ENTIRE POINT. CBDCs will be replacing banks... The layered Bitcoin ecosystem has the ability to replace both banks and CBDCs, doing a better job than either or both of them combined. What more would you like to discuss?
I believe it was destroyed when $doge hit its ATL or that area and then $shib followed but people believe still that they will Boom. And THEY HAVE MERIT if they BURN ENOUGH then it is possible but they need to burn A TOKENS. SO THE DEVS WONT BURN THEM ALL. Not at the current PRICE. They are a MEME COINS WORTHLESS ONLY TO THE OWNER AND THE POPULS THAT USE THEM OR ACCEPT AS PAYMENT ETC WHATS THEIR POINT OTHER THAN THE LUVKY FACT THEY MADE THE MOST GAINS ON THE MARKET EVER TO HAVE BEEN KNOWN. Seriously what’s their point?
>Crypto as a currency is the MAIN POINT! Bitcoin started out as trustless decentralized peer-to-peer cash. But the tech has evolved far away from this original purpose. Cryptocurrency is a bit of a misnomer now, especially as it applies to Ethereum. Success to me looks like, for example, large TVL on L2s on DeFi on Ethereum. That's one (but significant) measure. But there are many others.
Explain to me what success looks like if the single use case cure fly employed by the masses is as a get rich quick scheme? Crypto as a currency is the MAIN POINT! There is no value in decentralization if the thing that’s decentralized isn’t a currency.
In a free market, a big corporation or someone rich couldn’t influence the government anymore than the poorest person, THATS THE POINT, the government defends everyone’s individual rights regardless which is what makes it a free market. So no, a corporation couldn’t have that kind of power in a free market, all they have is the power to offer products or services and that’s it by design, otherwise it wouldn’t be a free market.
You can’t “accept my branch” without the git server running. What are you even talking about. You can do so locally but then need to push that again and need the authority to do so. You simply downloading a client does not enable you to do so. It also does not affect my branch locally. Show me a single git repository that runs without a git server. That simply doesn’t work. If the server does not grant your local branch push, you can merge and rebase and cherrypick and delete all you want, this will not matter for the repository and for any other client of that repository. There is a CENTRAL POINT which determines whether your local changes are legal for the rest. Even if there are multiple servers, they determine this. Not you. SSH is also not “decentralised”, it’s a shell access that is tunnelled through a SSL encryption. What would a “decentralised shell access” even mean in that context. Is every network application decentralised for you? The big, big difference is that in a centralised application structure you have server-client relationships. In a decentralised application structure you have only client-client relationships. Torrents are decentralised. An FTP is centralised, even if there are multiple servers joint in a net. A SFTP is also centralised as you (at least that…) correctly stated that authentication and encryption does not impact that. My god. This space is doomed.
Money was SPENT (churn) and ASSETS exchanged hands - the entire POINT of an ECONOMY. It turns out that you can't just sit on your ass and become insanely wealthy for simply HODLING the currency!! Are you telling me it would be better for that $100K cash to appreciate in price while the price of your house decreases (which is in turn compounded by depreciation)? You seem to continually forget that money IS NOT MAGIC. It is simply the MEDIUM we use to exchange goods and services. As such, if the general prices of assets goes up and the general buying power of the currency goes down - this is what we call inflation. If the general prices of assets goes down and the general buying power of the currency goes up - this is what we call deflation. Now, if the currency is what we use to EXCHANGE goods and services, explain to me why the prices of goods and services going DOWN would help people. Hint: it doesn't, see the magical period of history known as "The Great Depression."
If anything, he did us all a favor to get people to get their coins OFF of CEXs. The whole POINT of crypto is true ownership and self-custody. Without those features, we might as well just embrace the existing banking system that lead to the 2008 financial crisis.
😂 been in crypto since 2012 this is a lie, why they have to convince us they have it? Coinbase have done a lot of shady things in the past, they can’t be trusted. THE WHOLE POINT OF CRYPTO IS TO HOLD IT IN YOUR POSSESSION. And they are playing a derivative game with crypto, how can all the coins be locked up and everyone still have them??
> **AT THIS POINT, IT BEGS TO MENTION. DON’T GIVE YOUR SEED PHRASE TO ANYONE. KEEP IT OFFLINE.** I'd like to add to this, don't give your seed phrase to anyone, keep it offline, and don't store it DIGITALLY in any form. Don't take photos of it. Don't get it out in front of a webcam without sticking gum over the cam first. Don't write it down in the notes app on your phone. Your seed phrase should go from pen to paper, then to a safe place, and NO WHERE ELSE EVER. Many think it is fine to take a photo of it but sometimes your phone and computer are backing up files or sending stuff to cloud storage without you even being aware of it. As our devices get more complicated and more connected, the room for error and accidents multiplies. Your seed phrase should be written in ink or stamped onto metal, it shouldn't be anywhere near a phone or a computer ever.
> AT THIS POINT, IT BEGS TO MENTION. DON’T GIVE YOUR SEED PHRASE TO ANYONE. KEEP IT OFFLINE. I'd like to add to this, don't give your seed phrase to anyone, keep it offline, and don't store it DIGITALLY in any form. Don't take photos of it. Don't get it out in front of a webcam without sticking gum over the cam first. Don't write it down in the notes app on your phone. Your seed phrase should go from pen to paper, then to a safe place, and NO WHERE ELSE EVER.
Sam is a prominent member of "the club". The club plays both sides of the political spectrum, but mostly supports the left. The MSM is also almost exclusively club affiliated. Members of the club try to protect each other. I doubt they are being paid AT THIS POINT IN TIME, because if proof of that leaked it would be very devastating to the MSM's already tattered reputations and they aren't stupid enough to risk that. I think they are just protecting this prominent club member, and in doing so, protecting themselves.
While I do feel sorry for anyone who has lost money, and I completely agree any CEX who does what FTX has just done is completely criminal and should be dealt with as such. But at the end of the day, much of the responsibility absolutely does lay with people keeping their decentralised cryptocurrency on a centralised exchange. I am so FUCKING TIRED of people forming little armies around these centralised companies because they're earning 5% interest on their latest ponzi scheme. THE WHOLE POINT of a cryptocurrency is that it should be decentralised. No single entity should be able to take your coins away from you, censor you and so on. What is the point in investing in a decentralised cryptocurrency if the whole time you intend on just leaving your coins with a centralised company? Cryptocurrency was created for this exact reason - stop being dumb. It takes a minute to setup a personal wallet, you don't need any fancy hardware wallet, and suddenly your crypto is safe and nobody can take it away from you. There are so many great projects out there with incredibly blockchain technology and you're completely negating all of that by just chucking your coins at one company. Again, I'm not defending FTX. Fuck FTX for what they've done and the pain they've caused to people. But, this is avoidable, people keep explaining how easy it is to avoid it, and yet so many people keep ignoring said advice and complaining when something like this happens. It's not like this sort of occurrence is rare in the crypto space - people definitely do know what they should do. If you choose not to, that's on **you**.
The energy is nothing compared to traditional finance. When you shut that shit down, I’ll take your hand-wringing about energy seriously. The energy pays for actual value. The rest of this shit is just PayPal with extra steps and less convenience. The ENTIRE FUCKING POINT of crypto is providing an asset with a fixed supply beyond the purview of bankers and governments, who have demonstrated they do not have the people’s interests at heart, repeatedly, during the totality of their existence, over and over. https://i.imgur.com/N37B1A6.jpg
I don't get the hate on exchanges. They are the ONLY reason we are still here, they bring crypto to the people and serve as a means to flow money from one place to another (legal or illegal is not my problem). Yes, the rotten apples have to go. If you believe those high return on staking and lose al your money months later, that's on you. You got baited and fell for it. But actual good exchanges, should 100% stay and be supported by everyone, that means even people using other exchanges should support collegues because THERE IS NO POINT hating them. Whats the point of losing money with FTX, and now start bashing on Binance/Coinsbase/Cro? You're only gonna hurt your own bag.
>My emphasis... to highlight you just made MY POINT. So stop with the irrelevant stuff and focus on the key - Memory can be compromised. Easily at that. The context was key/seed management for travel to cross a border. Is memorizing not a possible solution to that for some? Yes it is. Nobody is suggesting that it's the only form of key/seed management in the context of his question. >There's other ways to do that. Just here ITT someone suggested writing it in the Bible. Now THAT is a way to go around it as unsuspecting as it gets. But it's still a possible solution to just memorize it. I know because I've crossed a border where that was the only solution I trusted given that situation. Are there other solutions, better solutions? Yep. >Yes you would. Always possible, but I highly doubt it :) If you don't get this by now, there is no hope. At least you are smart enough to know what bitcoin is, and I suppose that's better than most people.
You write a fuck ton of nonsense and then: >Now, do I have those seeds backed up elsewhere? Yes, of course, **because yes the brain/memory can be compromised**. My emphasis... to highlight you just made MY POINT. So stop with the irrelevant stuff and focus on the key - Memory can be compromised. Easily at that. > >So, sometimes it makes sense to rely on good ol memory to bypass security at borders. There's other ways to do that. Just here ITT someone suggested writing it in the Bible. Now THAT is a way to go around it as unsuspecting as it gets. > Would one solely want to rely on memory, no, End if story. No ifs, no buts. >Also, I started buying in early 2012 and never lost a coin.. no i wouldn't be better off buying at your average price. Yes you would.
THE GREATNESS HERE IS THAT YOU HAVE MADE A POINT TO THE WWW AT LARGE.... YOU ARE A CROOK. WELL NOT PROFESSIONALLY. YOU AINT SCARED TO BE A THEIF , UNTIL YOUR GREEDY SELF GETS GOT. That is the basic must have for this to work.. the mark will take the bait, because the con man found a greedy hog. (Pigs get fat, Hogs get slaughtered) I would think that even a terrible theif learns from others mistakes. You think that you have the street smarts to bust up the game and take the con man's stolen loot. Becoming the only bank customer to deposit a boggus payroll check, have it clear, and the FDIC is going to reward you with the balance. Now you are free to smirk when you think of how a poor Nigerian prince is sorry he attempted to bamboozle this Karen. Just don't try to fuck over people on the web. You are going to be outplayed. Good News, I have had two Nigerian Prince have checks written to Marty Mcfly. Back in good old 2021 Marty.
We do see the transaction is still processing and our team is doing our best to make sure this issue doesn't persist in the future. All transactions with Coinsource are guaranteed and we assure you that you will receive your funds. We appreciate your patience and apologize for the inconvenience. ​ ​ quick update from support, 1 week later same delay WHATS THE POINT of using THE btc machine if its not INSTANT? WE PAID CASH WE WANT BTC NOW not a year LATER!!!!
I just can't wrap my head around how nonsensical a _centralized_ cryptocurrency is. Decentralization is THE WHOLE POINT of crypto, if your source of truth is a single entity then why do you even need a cryptographic consensus mechanism. They could be selling you rows into an SQL database and you'd be none the wiser.
You said it yourself: Energy prices will skyrocket, people will pull money from investments to Live. Interest rate hikes are going to catch many off guard. We could go on, I don't care to, this conversation isn't how I want to spend my time. BUT MY POINT: Paying attention can give you some direction instead of " know one knows shit about fuck" that's what I meant and that's My statement. Since you're changing this conversation into what I think is going to happen: There's a lot further lower we can go, I don't think the economy has hit "Oh Shit capitulation" yet.
Might as well just use a thumb drive with Linux OS & paper wallet generating software on it, attached to a device that's not connected to the internet.... ZERO POINT in buying a hardware wallet if you don't intend to spend for 20 years. Using a closed source hardware wallet is less secure than an open source paper wallet method that I'm advocating. A closed source hardware wallet could be generating pre-configured addresses to which the developers already know the private keys. Just sayin'...
Until enough millennials are in office to legally enforce it through monopoly laws. You can pay an individual plumber now.. anyone that can type "crypto wallet" into google can accept crypto as easily as Venmo/Cash App. Then convert it to USD or Cocaine. You just aren't going to see companies that provide POINT OF SALE software to large corporations(Buying Gas, groceries, fast food, retail) Through Visa/MC adding a BTC payment option, Most mom and pop shops end up using the same third party shops.
The entire point of the Cosmos Network and ATOM is that ATOM should not be the base layer. The cosmos network is about decentralization and giving out the tech so that people can make their own sovereign chains that can communicate with each other. The Cosmos network is supposed to exist without ATOM because if it didn't, ATOM would be a CENTRAL POINT OF FAILURE. That wouldn't be very decentralized would it ?
You are not getting my point. I never intended to draw a full picture. I just wanted to wish everyone a good day with one piece of positive news. That does not make me oblivious to the risks. In fact I share a pessimistic outlook for the next months. IT JUST WAS NOT THE POINT OF THIS POST. It's like this: Me: I'm happy the sun is shining. You: Not necessarily, it warms the planet.
You're attempting to deflect without answering the point I made. This isn't my first rodeo, so I'll remind you of the point that you're attempting to avoid: **"Nano only works when you POINT at your Representative Your payments work even if your Representative goes entirely offline for a year. The loss is only that your balance's vote is not counted in block confirmations."**
>Nano only works when you POINT at your Representative You demonstrate your utter lack of knowledge about the thing you're attempting to attack. Your payments work even if your Representative goes entirely offline for a year. The loss is only that your balance's vote is not counted in block confirmations. Time will tell, but I'll hedge my money on most Bitcoiners having a total lack of knowledge of how Nano security operates.
Yada yada... Nano isn't TRUATLESS. It had only the efficiency of Lightning, but mine of the security it adopts from the main chain (BTC). BTC works without anyone in the middle knowing one another. Nano only works when you POINT at your Representative, which most people are too apathetic to even know about, change in the first place. Only time will tell, but I'll hedge my money with the coin built from First Principles. Everything that splinters off of Bitcoin has chosen the wrong path, against social consensus. Infinite money glitch those splinters are... Backed by nothing physical. Bitcoin is forever.