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It probably was an inside job to some extent. Some menial but smart guy was not really paid enough and said screw it, it worth the risk and gave himself a $5 Mill pay day.
It looks like they are going to have to multi sig everything.
Another thing I do when sending is to send a very small test amount to an address first just to see if it gets there. Once I see that hit, then I am pretty sure everything is ok and send the larger amount. Sure there is an overhead but hey you pay to minimize risk.
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this conversation happened post gox.
Nxt is probably the best *decentralized* exchange atm.
However the problem is real decentralization comes when the bank does not know you are puting money in or out of the decentralized exchange.
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How does the dynamic on bitcointalk change when the bitcoin experiment fails and it falls to the $1-$5 range? The legendary early adopters will no longer hold power and the forum at whole will become a better distributed/ fairer environment. Since most people came into bitcoin to increase their FIAT holdings, they have totally missed the point and too much emphasis is on price rather than technology. Looking over the forum, people are foaming at the mouths like rabid dogs, hoping (like a religious sect) for the price to rise. They have indirectly become slaves to the very system that satoshi was looking to fix.
As soon as bitcoin fails, we can live in harmony. All you should care about is 1 BTC = 1 BTC.
a doge person escaped to BTC talk? |
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Fractional reserve banking is ok per se as it provided a way to use capital and production, as long as your allowed to do it as well, eg be a bank. Otherwise banks tend to abuse position, which has happened. Banks/Govs have abused their monopoly position. This is where BTC comes in.
Banks nor gov's can buy out BTC. All they can do is increase the price to. That is one of the issues they face its t he first thing they can't buy it out. This is a new concept for them.
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I have never sold BTC back for FIAT. Nor do I intend to.
I have made some purchases in BTC.
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The retail adoption is for the most part insta convert to BTC. Miners have to pay operating costs so are forced to sell.
Every second we see BTC being swaped for FIAT in considerable volume.
this has to be a constant head wind on BTC. Eventually the holders and buyers will see supply dwindle then the use case for BTC versus other currencies will drive BTC price.
A big use case is BTC can't be Quantitatively eased, and it represents the best competition we have versus the banks.
I think mining will eventually give way to a non mining solution such as POS.
However these are still early days. Morso than the intertubes as BTC is much harder than the internet to get your head around.
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Knowing the U.S. and the history of inflationary monetary systems we'll all be trillionaires in no time
This + 1000 and for any central bank. $1 million is pretty low ball as 1 mill is not that much any more. Looking at some stats lately house have gone up between 5 or 10 x wages in the last 30 years. Where has this money come from? Printing with banks giving money to themselves and friends. "A" Beauty of BTC is you can't really short or inflate it. |
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You should always have private keys exported before using any wallet or address
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As said above the issue who is going to wear the risk of shorting BTC.
...no one.
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I dont see why NEM stake won't got to at least 100K NXT
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until BTC button is on the donate page it does not count.
How one earth they don't do this is beyond me. It goes agaisnt the ethos of everything they should stand for, plus they are just being dicks about it, which is far worse
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I was on the internet in 1993? on a sun spark using mosaic....it was basically as good as anything today. It was pretty awesome.
Before that in the 80's is was bboards and FTP
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I am so glad I took dev to task an secured a proper escrow option for this!.
Bacon = saved.
pats self on back.
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There was a time when I thought bitcoin would fail. Then a friend pointed out to me how many people have invested so much money in the ecosystem. They won't let it fail.
There's a whole industry out there. There a miners, there are mining device manufacturers, chip and board creators, there are exchanges, wallet creators, physical coin makers, loan services, advisors, software developers, pools, and this is only touching the tip of the iceberg.
Put it this way - gold will fail before bitcoin. Fiat will long fail before bitcoin.
This industry had plenty of money invested and literally worked themselves out of a job because they did not consider the external costs of their actions. This is going to be the same as BTCitcoin the industry will mine itself to death and fail. But I think just like the 16th century energy market that people will never look back and this will lead to a currency/internet/blockchain revolution. But I do not think that Bitcoin will be the end all be all. To be honest I don't think it has much life left. I am just hoping it can last long enough to expand crypto adoption. I am selling out and moving on to NODE since I think the better network topology of PoA is more sustainable but who knows something better may come along or NODE may fold up due to marketing or development shortcomings. I don't see this as a failure for Bitcoin it had it's role to play but I think that time has come and is going. A nostalgic part of me hopes I am wrong but the economics and history say otherwise. Time will tell. bitcoin will fork before it fails, but in doing so may hand it crown to a contender. |
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its been "soon" and 2 weeks from now for ever.
They should be able to articulate what the issue is by now.
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Correct me, if I'm wrong:
Ripple was developped and held (50%) by a company, wasn't it?
In this case I absolutely prefer bitcoin.
Are there some control mechanism to prevent price manipulation by their own company?
You're talking about the currency inside the Ripple payment system, often called XRP. That's really not intended to be used as a means of exchange or a store of value (at least in the near term), so it's not really fair to compare it to Bitcoin (which is). thats kinda semantic. the real issue is its not free to opt in only if you get on the UNL can you play and Ripple controls the UNL list. |
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1 sat = 1 cent would be about right, 21T.
10 sat = 1c = 100K a btc, 2.1T kinda low ball really, I mean one private company alone is worth 10T and apple is 0.5T.
BTC blows apple, facebook, microsoft and 50 % of the banking sector out of the water.
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eh it has to go over $700 before I see a reversal
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I received a fake email with a so claimed receipt that had a file name with a number and .jar attached
It claimed to be from BTC guild.
Needless to say I did not download it.
Just to warn people.
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So this should be a registered religion by now yes?
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