It appears Brian Armstrong's Coinbase might become America's only powerful bitcoin exchange if the move becomes permanent hehehe. Politics and corruption is also real in the cryptospace.  Brian Armstrong, CEO of CoinbaseA former top lawyer at Coinbase is about to take the top job at a major U.S. bank regulator, at least temporarily.
Brian Brooks, the first deputy comptroller and chief operating officer in the Office of the Comptroller of the Currency (OCC), will become acting comptroller on May 29 after his boss, Joseph Otting, steps down from the role.Read in full https://www.coindesk.com/a-former-coinbase-lawyer-is-about-to-become-acting-head-of-us-bank-regulator |
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@jossiel. It is a movie about some people who knew that there was a scam in the housing debt derivatives market. They were subprime loans labeled as stable loans. However, the market was pumping until it was unsustainable.
Similar to the coronavirus pandemic. Many people are losing jobs, economy is down, business profits down, however, stock market up? Is this sustainable?
Thank you, that's interesting. I guess we have an idea what would be consequences with all of those factors. I haven't found a copy of the movie but will look for one to watch it. It is based on a true story of real people hehehe. It shows the overconfidence of people within the banking system and their readiness to look the opposite direction of the scam to sustain an unsustainable condition. |
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Also, 70% of the total bitcoin trading in the cryptospace is made in USDT. This is an old source, however, I reckon the % might be close to similar at this moment.
@exstasie. Is this really fud,
considering that your percentage is a total nonsense and your title is also a bigger nonsense (Big Short is about the corruption of banks and how they have the economy in the palm of their hands, something that doesn't exist in bitcoin world), yes it is FUD. Coinbase (100% fiat exchange) has ~35% of total volume Bitstamp (100% fiat exchange) has ~22% of total volume Bitfinex (both fiat and tether) has ~17% of total volume -> 89.5% ($22.04 mil) in fiat and 10.5%($2.61 mil) in tether Kraken (both fiat and tether) has ~16.5% of total volume -> 99% ($60.05 mil) in fiat and 1% ($0.5 mil) in tether gemini (100% fiat exchange) has ~4.5% of total volume bit-x (100%(?) fiat exchange) has ~3.5% of total volume the rest are too small to be counted (~2% among 10+ exchanges). that means the total bitcoin trading in USDT is only 10.5%*17% + 1%*16.5% = 1.95% or merely 2%. other tether volumes you see on sites such as coinmarketcap.com is the altcoin trading volume not bitcoin. data is taken from https://data.bitcoinity.org/markets/volume/30d/USD?c=e&t=b and https://coinmarketcap.com/currencies/bitcoin/marketsThe list of bitcoinity.org is very incomplete hehehe. It does not cover all the trading volume of USDT and fiat for bitcoin. Check listed pairs in coinmarketcap.com. I reckon this tells us that USDT volume is clearly more than 2% of the total volume. https://coinmarketcap.com/currencies/bitcoin/marketsAlso, check total volume of all cryptocoins. Tether has the highest trading volume, more than bitcoin, which implies that tether has become a dominating coin in the whole of cryptospace. https://coinmarketcap.com/ |
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@exstasie. Is this really fud, however, and not a reasonable concern for the people in the cryptospace? Similar to The Big Short movie, everyone except for a few were very confident that the housing market would never collapse.
We know the ending of that movie.
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USDT was crticized in this forum because it does not have the 100% backing of real USD. According to Bitfinex, the tethers are backed 100% again. However, how are we certain? Bitfinex also has pending inquiries on the New York State attorney general's office. Whether or not USDT is fully-backed has long been a point of contention. The company has promised an audit of its stablecoin reserves (though it has not delivered one, and has since dissolved its relationship with its auditor), produced a third-party report saying it likely had more funds than outstanding tokens, and had a bank write a letter vouching for its holdings. (The latter two reports both acted as snapshots, only assuring the crypto community that on specific days, Tether’s obligations did not exceed its assets.)Source https://www.coindesk.com/tether-says-its-stablecoin-is-fully-backed-againAlso, 70% of the total bitcoin trading in the cryptospace is made in USDT. This is an old source, however, I reckon the % might be close to similar at this moment. In August, BTC trading into USDT represented 71.23% of total volume (traded into fiat or stablecoin).Source https://www.cryptocompare.com/media/35651527/cryptocompare_exchange_review_2019_08.pdfAre we sitting on a timebomb similar to the movie The Big Short? Dr. Burry, The Big Short |
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@smooth. What would be your suggestion for the leaders of the 2 platforms? My suggestion would be to ignore Steem as a failed project that is now a centralized sham of a blockchain little different from Onecoin or other such scams. If you think that Hive is sufficiently different as to escape that fate then it might have merit otherwise the same thing applies. I reckon this opens a space for another entry of a reddit type cryptospace project. It might be possible to create and develop this on Monero's sidechain, Tari? The whole /r/Monero and /r/Aeon subreddits can be moved there hehehehe. |
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@tromp. What can you say and do about this? I find it very unconvincing coming from a single person who runs shitcoin.com that spreads fear and doubt among the community while pumping and hyping the coins they like. I had to read over much of the GRIN source code due to lack of documentation. The Rust code appeared to be written by someone with very little Rust programming experience.Source https://twitter.com/abrkn/status/1262324530363629569 |
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@jossiel. It is a movie about some people who knew that there was a scam in the housing debt derivatives market. They were subprime loans labeled as stable loans. However, the market was pumping until it was unsustainable.
Similar to the coronavirus pandemic. Many people are losing jobs, economy is down, business profits down, however, stock market up? Is this sustainable?
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Jonny Bones will not stop hehehe. I predict that Thiago Santos, Dominick Reyes and Israel desanya will certainly stop talking loudly about him if he wins versus the big fellow.  Jones and Ngannou have gone back-and-forth on social media since UFC Jacksonville on Wednesday night (May 13). Jones talked about a potential heavyweight run and how he’s beginning to consider it more as time passes. Ngannou questioned just how serious Jones is and the two have since expressed desire in fighting one another.Source https://www.mmanews.com/jon-jones-to-francis-ngannou-ill-expose-you/ |
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@AdamCox9. Thank you.
In any case, where is smooth? Taking everything about the coronavirus pandemic into consideration, I am very worried.
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@leea-1334. I disagree. From the beginning, I reckon that Grin's monetary policy of infinite supply has already discouraged short term speculators. The development team has made it very clear that anyone buying to get rich quick will have their coins diluted. https://github.com/mimblewimble/docs/wiki/Monetary-Policy |
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@jossiel. Grayscale's huge purchase does not automatically make that a correct decision, however. We might be in a similar situation 2 years before the 2008 financial crisis. Have you seen the movie The Big Short?
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@Darker45. However, Hal came on 2010, correct? This is 1 year after the said 50 BTC coinbase was rewarded to the miner.
I speculate that the only miners 1 month after bitcoin's creation might predominantly Satoshi with different computers.
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This article was written fairly, however, it put grin on a negative slant. I reckon it would be also fair if the writer made this quote the highlight of the whole article. Grin developers say the cryptocurrency isn’t designed to cater to short-term speculative investors.
“Cryptocurrency is mostly a speculation game,” said grin developer John Tromp. “Grin is hurt in the short term by being speculation-unfriendly.”Source https://www.coindesk.com/18-months-few-people-use-mine-buy-privacy-coin-cryptocurrency-grin |
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News update 1. On a shocking twist, Justin Sun has tweeted that he was not involved personally in this hard fork. He supports the Steem witnesses who are voting for the hard fork to seize the coins of the hostiles, however. Since the article was published, Sun tweeted, "First of all, both Steemit Inc. and I are not involved in this hard fork. However, I do have sympathy for current Steem witnesses and can see where they are coming from. The Hive witnesses took their assets away from them by force, causing huge losses to them."
"I am not involved in this decision in any way, but as a member of the Steem community, I am entitled to my own opinions. Since Hive took the assets from the Steem witnesses, vitalik & the misleading media have been 100% supportive of it," he added.Source https://decrypt.co/29416/steem-network-to-seize-5-million-from-its-own-usersNews update 2.  Justin Sun calls the cops over ‘stolen’ Steem fundsSource https://decrypt.co/29564/justin-sun-stolen-steem-funds |
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Before there's more wild speculation about where these old coins that moved came from... Let's remember that bitcoin was revealed publicly by satoshi upon release. An archive of the emails posted by satoshi can be seen here: https://satoshi.nakamotoinstitute.org/emails/cryptography/ People were in theory able to become part of the network and use bitcoin, mine and transact with equal access as satoshi himself onward from the genesis block. Especially a month in the opperation. By some of the early participants that publicly showed interest, its obvious that one of the earliest adopters of bitcoin was Hal Finney (may he rest in peace). This is all public information verified by the record of the same mailing list. While we can't be sure who had mined the block that went in the address 17XiVVooLcdCUCMf9s4t4jTExacxwFS5uh specifically, we also shouldn't assume that those coins were lost. For example, Hal had admitted storing keys for coins he had mined for his family. However, those coins were from 2009. 1 month only after creation! Also, where are the evidences that Satoshi only mined from 1 computer and if Satoshi was only 1 person? I reckon the chances that it might be Satoshi is higher than what the bitcoin news media is telling us. In any case, this is an article about Patoshi blocks and explanations on how those coins were not from Satoshi. It assumes that Satoshi was mining from only 1 computer, however. The so-called Patoshi Pattern (developed by RSK software designer Sergio Demain Lerner) gives us a rough picture of Bitcoin’s mining landscape in the early months. Basically, this pattern looks at the “nonces” (i.e., the cryptographic hash that miners guess to connect a new Bitcoin block with an old one) left by what is believed to be a single entity (some believe Satoshi).
Patoshi blocks have a different nonce pattern (due to an old flaw in Bitcoin’s code) than other miners’ blocks, the analysis suggests. And as Castle Island Ventures partner Nic Carter points out on Twitter, the Bitcoin that were just spent came from a different block than the ones that belong to the Patoshi Pattern.Source https://decrypt.co/29575/satoshi-nakamoto-didnt-just-move-bitcoin |
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Also, I speculate that Khabib might not fight according to his original plan on July or September. His father is in a coma.
His father opened his eyes and hopefully he will recover well. The support and prayer he from everywhere was surprising, even McGregor praised his dad and wished him recovery. His condition has worsened. It appears we might witness an angry Khabib return on September and his anger might also be used by Dana and Trump for storyboards and propaganda against China's coronavirus.I also predict Weili Zhang will be thrown to Valentina Shevchenko's den by uncle Dana hehehehe. In the latest report from media outlets, it’s been said that Abdulmanap’s condition has worsened and he is now on life support as he cannot breathe unassisted (via RT). Abdulmanap has been battling COVID-19.
“More than 20 of my close relatives have suffered (from) COVID-19 and also had to stay in intensive care. Some of them are not with us anymore,” Khabib said, as translated to MMA Junkie by two sources. “As for my father, there’s been so much support, and people kept asking about my father.Source https://www.mmanews.com/report-khabibs-father-on-life-support-after-condition-worsens/ |
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I am shaking my head. I reckon the leaders of the Steem and Hive platforms have only been successful in corrupting their own coins. @smooth. What would be your suggestion for the leaders of the 2 platforms? Steem, a popular blockchain and social blogging platform, will undergo a hard fork on Wednesday to shut down accounts that object to TRON’s leadership, seizing about $5 million in STEEM in the process.
This hard fork will arguably censor several blockchain accounts that are sympathetic to Hive—a blockchain that many users moved to after TRON‘s CEO, Justin Sun, bought-out Steem’s development company Steemit Inc in February.
Steemit, however, argues that Hive is a hostile fork and that many of its users are causing trouble. It claims that many users are sending spam transactions, posting recycled content to disrupt the rewards system, and attacking and doxxing users.Source https://cryptobriefing.com/tron-will-seize-5-million-steem-from-dissident-tokenholders/ |
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It appears the investors capitulated, lost some of their investment and begun this lawsuit to take their money back hehehehe. The skeptical me is thinking that if EOS has become bigger than Ethereum in market capitalization, the plaintiffs would be celebrating their profitable invesment instead of this lawsuit hehehe.  Dan Larimer, CTO of Block.oneCrypto Assets Opportunity Fund LLC and Johnny Hong filed a class action complaint against the company Monday in the U.S. District Court for the Southern District of New York. Along with Block.One, its CEO Brendan Blumer, CTO Daniel Larimer, cryptographer and previous Block.one partner Ian Grigg and previous adviser Brock Pierce are all listed as defendants.
The plaintiffs allege that Block.one provided investors with false and misleading information about EOS in an effort to raise billions in an allegedly unregistered securities sale. According to the complaint, Crypto Assets Opportunity Fund LLC and Hong claim to have purchased tokens on a secondary market after the sale, which, as reported at the time, brought in an estimated $4 billion.
Plaintiffs contended that Block.one drove the price of EOS by "aggressively" marketing it to U.S. investors and insisting that the EOS blockchain would outperform existing blockchains. The complaint alleges that defendants even told prospective investors that EOS stood for "Ethereum on steroids."
However, the complaint alleges that by not outperforming other blockchains, not disclosing significant internal disagreements and failing to decentralize sufficiently, Block.one misled investors.Read in full https://www.theblockcrypto.com/post/65615/class-action-lawsuit-filed-against-block-one-over-allegations-about-its-eos-initial-coin-offering |
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