While it's true that most "DEX" platforms are centralized, there are few real DEX such as https://bisq.network/They support both Monero & Grin, additionally BTC/XMR pair have good volume (compared to another pair) But isn't there a whole system of centrally enforced escrow, arbitration, and so on? I always wondered how this worked in particular with fiat money transactions. Is this not true: it never has custody of your funds It does. There is a security deposit and escrow. It might be temporarily owned/held by more than one individual, with a complex way of keeping it away from any one person or company, but the money isn't just peer-to-peer. There is a central system that it has to go through and be held by. I'm also curious about the privacy implications. No AML/KYC is obviously a big feature, but are there other concerns when using their desktop application? |
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I don’t know what information Griffiths provided to North Korea? But if that information was to pose a threat to the United States, I do not think it would be available on the Internet. That's the point of contention. To hear Vitalik Buterin tell it, Griffith didn't provide any information that wasn't already publicly available. He's suggesting that the arrest was essentially for speaking at a blockchain conference. I don't think what Virgil did gave DRPK any kind of real help in doing anything bad. He *delivered a presentation based on publicly available info about open-source software*. There was no weird hackery "advanced tutoring".
And if there was any indication that it was going in that direction, I would have reacted much more strongly against it. Griffith applied for permission from the US government to travel to North Korea and attend the conference. He was explicitly denied but went anyway. My feeling is that he is being punished for defying the US government, not because of any real threat to the US. |
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I always figured Richard Heart was building up to something like this. He always seemed like a marketer intent on monetizing his position as an influencer on Crypto Twitter.
It reads like an "honest" ponzi scheme. In theory, you can make obscene profits, but there is no real basis for value and everybody is just openly waiting for greater fools to drive the market up.
All such schemes eventually collapse under their own weight. Richard Heart will profit handsomely, though, I'm sure. He's already up more than $3 million just from printing tokens out of thin air.
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Are these news from China even true? That these exchanges are closing because of an anti-crypto government? Btuex and IDAX both cited Chinese government policies as the reason. Based on the timing of these closures, I think it's also implied. If this is true why are the big exchanges in China like Huobi and OkEX are not having statements about this or at least looks to be affected on the government breathing under them. The government seems to be focused on domestic operations at the moment. Their exchange operations aren't located in China, so they may not perceive a major risk. |
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Bitstamp is doing less than 0.1% of the global volume but is holding 1.25% of the total number of bitcoins (including satoshi's) What do you mean by "including satoshi's?" It's likely that many users just leave a small amount on Coinbase, including both BTC and fiat, so they can do some trading. Coinbase isn't really a bid/ask type of exchange though, unless this number also includes Coinbase Pro, which is the real exchange.
I suspect that a huge number of people use Coinbase as wallet -- same as Mt. Gox back in the day. I assume the numbers here include Coinbase Pro since their wallets are associated. |
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As per now, there are 4894 Crypto currencies and 20790 markets on CMC. Bitcoin is on the number one. But USDT is ranking up rapidly and now it’s number 4. Any possibility to get it over Bitcoin? I would be shocked if I see.
It wouldn't surprise me. Bitcoin and altcoin prices keep dropping. Meanwhile, Tether's market cap keeps holding steady or increasing. Apparently, Chinese Tether adoption is playing a big role in that: Controversial Crypto Coin's Rise Fueled by China Trading Ban |
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In a new report predicting the decade of the 2020-2030s by Deutsche Bank Research, the bank says that the adoption of digital currencies is inevitable. Governments need to catch up or the backlash against fiat currencies will be too great to handle. This is a bit of a stretch. These are articles written by individual research analysts in Konzept, a magazine published by DB Research. Regarding "inevitable," the opening editorial offers this warning: A staggering list of incorrect ’decade-ahead’ predictions litter history. In the 1970s, some expected gold to lose all value in the era of fiat money. In the 1980s, most believed quartz watches would completely replace the mechanical sort. In the 1990s, a host of publishers rejected the Harry Potter manuscript, while in the 2000s, internet buffs said remote working would end the office.
Herein lies the trouble with most ’decade-ahead’ predictions. Either, they merely extrapolate current, well-known trends, or they are so outlandish it is impossible to see a link between now and the future.
With this challenge in mind, for this special edition of Konzept, we asked our research analysts for original ideas with plausible links to today. It took time but this Konzept contains 24 contrarian ideas for what the coming decade may hold. We fully admit that some may not eventuate but as a society, individuals, and investors, we want to be ready for the unexpected challenges of the 2020s, not the themes of the decade just gone. Despite a lot of ifs, "The end of fiat money?" and "Cryptocurrencies: the 21st century cash" are good reads. https://www.dbresearch.com/PROD/RPS_EN-PROD/PROD0000000000503196/Imagine_2030.PDF |
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Binance DEX traders are just trading tokens issued by Binance. Binance holds all the real assets in custody. It's all a big gimmick.
I wonder why it bothers existing in the first place if it's effectively no different. Probably to pump their token. I get the feeling 'dex' will become a word almost as debased and abused as 'genius'. Binance butchered it worse than anyone else. Honestly, it was pretty deceptive. I never thought highly of CZ and this solidified that opinion. Pumping their token was definitely part of it. They also needed ways to give BNB "utility" (to argue against it being characterized as a security) so integrating it into the "DEX" was two birds with one stone. |
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Switzerland and Liechtenstein are pretty tiny countries, so I wouldn't expect too much in terms of volume. I haven't seen the CHF listed on any major exchanges though, so this could be a positive development for people living there. |
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Binance does have a 'DEX' but there are some serious doubts about it actually being decentralized or not.
I thought it had been comprehensively proven that it wasn't. I think it is in theory non custodial but it can reverse transactions and block people. Binance Chain only has a handful of validators so it's completely permissioned. It actually gets much worse than that, too. It's fully custodial. This is how it works: “All XRP issued on Binance Chain will be backed 1:1 by native XRP sitting in a publicly disclosed address that can be monitored by anyone at all times,” said Binance CEO CZ (Changpeng Zhao). Binance DEX traders are just trading tokens issued by Binance. Binance holds all the real assets in custody. It's all a big gimmick. I use a VPN for various things and it often breaks or I forget to use it. I guess if you have a VPN with a firewall that disconnects you when it disconnects you should be OK. Windscribe does this I presume others do. Yes, definitely use a VPN that can block outside client-side traffic. I use Private Internet Access. Under privacy settings, always keep the "VPN Killswitch" on. |
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If you want fast you'll need to use one of the centralized mixers or use Monero or Zcash or Grin which probably also means using a centralized exchange and paying more in fees.
You could use DEX if you want to avoid centralized exchange. All "DEX" platforms are centralized, and most -- like Binance DEX or the Bitshares-based exchanges -- are even custodial and trust-based. They aren't what they advertise at all. The "decentralized" trading refers to tokenized assets while the real assets are held in custody. What "DEX" allows you to exchange for Monero or Grin, anyway? Centralized accountless exchangers like Flyp.me still seem like the best option. |
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It doesn't matter who the president of the US is, there is no room for a competitor (Bitcoin in this case) to their own government issued currency. In that regard, I'm pretty certain that she will adopt an anti Bitcoin stance similar to Trump's. We'll see her narrative change to something like; blockchain is a great invention, Bitcoin not so much. That seems overly pessimistic. Bakkt is a business, Loeffler is a businesswoman, and Bitcoin is a speculative commodity. Hardly anyone views it as a competitor to the US dollar. I think she'll just become rather tight-lipped about Bakkt and Bitcoin in general, now that she's in the spotlight. |
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Posting bail was a good sign meaning that the judge ruled in favor of him that there was doubtful evidence to begin with. No, it's just an indication that the court doesn't consider him to be a flight risk. My understanding of the sanctions is that Griffith needed explicit approval from the Department of State to travel to North Korea and provide technical information. The US government denied him permission and explicitly warned him not to go. I'm fairly sure it's a slam dunk case for the government. |
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Here is my own opinion. Despite that the Bakkt CEO could become a U.S. Senator by next week, I would honestly believe that there are no guarantees that it would really impact the price of Bitcoin and other cryptocurrencies.
Assuming that Kelly did “walk the talk” next week, she could be an advocate of Bitcoin and crypto. However, it does not mean that her fellow senators (if she did take that senatorial seat) would definitely support. There are some who would oppose it, just like Mark Zuckerberg’s Facebook Libra coin.
What do you think about this one guys? Thanks!
Some of the profiles I'm seeing about her don't even mention Bakkt. She's being painted as a red-blooded conservative. This is what she recently said: "I haven’t spent my life trying to get to Washington. But here’s what folks are going to find out about me: I’m a lifelong conservative. Pro-Second Amendment. Pro-military. Pro-wall. And pro-Trump," she said. She doesn't sound particularly focused on Bitcoin, does she? She's also in a politically tenuous situation since the the Trump camp strongly pushed for the governor to appoint someone else. She doesn't have much room to advocate for anything outside the core party line right now. |
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@CarltonBanks
IIRC, Bitfinex once said that they plan to issue USDT on LN. My question is, how realistic is that? Can tokens be issued on LN and operate similar to how they do on Ethereum?
Sure, but it's not "The" Lightning network in this case. I think Tether (USDT for anyone who doesn't know) is moving or already moved over to become an Ethereum-based token. That means it'll be using the Ethereum payment channel tech, which is necessarily rather different in the way it's put together. And I have no idea how ready that tech is, anyone into Ethereum know? They use both Ethereum and Bitcoin. In fact, they also issue USDT on Tron (TRX) now. With Bitcoin, they use the Omni Protocol to anchor transactions to the blockchain -- not sure that would work with Lightning. Ethereum's version of Lightning is state channels on the Raiden Network. It's in alpha. I'm having trouble finding much information on network statistics but I believe this is the contract: https://etherscan.io/token/0x255aa6df07540cb5d3d297f0d0d4d84cb52bc8e6 |
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Well they have to break up Bitcoin's 256-bit ECDSA before Bitcoin developers mitigate the risk and upgrade it to make quantum resistant. It would be foolish to wait until ECDSA is actually broken. Due to current practices like key reuse and xpub usage, quantum computers breaking ECDSA would leave at least 5 million bitcoins on the table, ready to be stolen. As Pieter Wuille points out -- correctly, I believe -- Bitcoin would have no value at that point. Quantum resistance needs to be implemented long before the threat is real. The problem is that all known post-quantum signature schemes will massively bloat the blockchain, so timing these changes won't be easy. |
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Law enforcement officials busted multiple money laundering schemes this year involving Bitcoin ATMs, like this one: Bitcoin ATMs Show Gap in EU’s Money Laundering Rules, Police SaySpanish police announced in May that they had taken down a laundering operation that used Bitcoin ATMs. They arrested eight Spaniards and Latin Americans who allegedly used nine companies to transfer more than 9 million euros ($10 million) for drug traffickers in Colombia and other countries. The authorities say the cash machines were crucial. There have been lots of arrests over the years associated with laundering money from darknet markets. The standard police sting goes like this: One party charges a high premium and doesn't do AML/KYC, the other party (undercover police) states that the funds are illicit proceeds. Once the transaction is completed, the first party is proven guilty of operating an unlicensed MSB, failure to implement AML procedure, and possibly conspiracy to launder money. |
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Regarding "like-kind", this applied to real estate and some other narrow areas. It never applied to crypto. I generally agree since that's the position most tax experts have taken. However, some -- like this tax lawyer -- believe the question is debatable regarding pre-2018 altcoin exchanges. He seems to think that section 1031 could apply under some circumstances. It's true the 2018 tax code limited like-kind exchanges to real estate, but the IRS hasn't officially closed the book on prior years. Like you said, it's all speculation until the IRS and the courts establish case law. |
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The first major exchange to implement Lightning -- what a marketing opportunity. Bitfinex has a real way of appealing to Bitcoin maximalists. They'll also be offering their node for others to connect to. It'll be very interesting to see if this moves things forward in a significant manner.
I've always thought exchanges acting as hubs could be a big boon for LN adoption, since so many people are constantly transacting with them. I'm interested to see where this goes. |
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I'm surprised this hasn't been picked up on more. Virwox is one of the oldest BTC related services still going. I know they lost Paypal for crypto quite some time ago but have no idea how they managed to keep Paypal on board for so long for anything they did. Looks to me like every aspect of their business went against their terms. Maybe. I always thought in-game currencies were an interesting loophole. I tried to find a prohibition against dealing with them in Paypal's terms and came up empty handed. |
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