I thought text spinning made you automatic toast? Am pretty sure I've seen it highlighted elsewhere and the consensus was that it's not only plagarism, it's sneaky plagarism.

It must be just as time consuming as writing your own drivel so it's never been something I've understood why people indulge in.

Kinda cool. This is the experimentation that banks should be getting up to. Harmless, open minded and exploring potential.

Since NEM is transitioning to a new chain soon I'd wonder about the digital part's long term lifespan. They're saying they'll maintain the old one but it depends on people running nodes and there aren't all that many of them before it's superseded despite being heavily subsidised.

Uh, really?

The average altcoin requires you to trust the developer not to dump and carry on developing, trust the handful of miners not to rape it, and you, and the handful of piece of shit exchanges it's on not to bone you up the bottom.

Altcoins are basically not everything Bitcoin is. Their main problem is the thing you mention - far too much trust required and the people involved in this space usually are not.

You've just listed some horrific risks.

There is absolutely no way I would ever store a large amount of money in a stablecoin for any period of time. You are entirely dependent on the competence and good will of the one single operation running it.

If they go, so does your money. No one else is going to bail you out. You do not have dollars with them. You have a piece of code that represents an agreement regarding the dollar they may well lose.

These companies are also incredibly paranoid about preserving their position so will be desperate to please any authorities that hassle them.

There are enough exchanges with real dollars. Use those instead. For the sake of a small trading and transfer fee you might be saving the entirety of your funds.

Looks entirely like an exchange side balls up to me. Usually it's exchange funds that go walkies so this is a bit different in that it hijacked customer accounts. I'd fully expect to be made whole by them in those circumstances.

Interesting.

What these companies may not have contended with is Bitcoin payments stopping to the posters there. I've noticed many people not treating Bitcoin earnings as 'real' in any way and they seem weirdly happy to throw it away.

Maybe they'll all turn into Talk token casinos, not that you'll probably ever be able to withdraw it from Yobit.

Not even that. He might attract weirdos who otherwise might not have voted. Other than that I expect his grandma will dutifully tick the box and that's about it.

I wonder how much money he's planning to burn on this.

Got a link to that event?

I'd be amazed if any exchange recompensed a user's incompetence.

If somehow a hacker managed to get into Binance's own systems and phished their users via legit channels that's another thing and that's ultimately on them for letting it happen.

Plenty of SEC talk in there.

The thing I've always wondered about Coinbase is that it plans to grow ever more legit at the same time as growing the number of risible shitcoins on its platform.

No doubt that's where plenty of money is but it seems hard to reconcile a sheen of old school establishment when you're touting crap that could fork or drop dead any second. If I were the gatekeeper to this I'd have cause to wonder.

Bit of both for me.

The bigger and more public Coinbase and similar become the more remote the idea of hassling Bitcoin is in the countries it operates in.

It also becomes more of a one stop shop for surveillance and seizure. With the custody stuff too Coinbase could well end up with over 10% of all Bitcoin under its control. That's a big old point of centralisation.

We need to see a truly free market before we can make a judgement about it as there's never been one and probably never will be.

I expect the US regards itself as a free market but when you take an actual look it's extremely socialistic, but that socialism is reserved for dealings between the government and the corporations, not the people or entities they sell to.

That's the answer that still applies.

There may be little to no uptake for contract stuff and it's a whole lot of work that may suck up a vast amount of time and energy with no guaranteed end goal. There's enough work to do refining Bitcoin itself.

If I were on the team I'd push for it to be someone else's problem, not ours.

Daffy. Hardly anyone knows who he is. Once they do start looking into him they'll find enough unappetising details to not want to look any further.

And why do so many people of this ilk go straight to the top job with zero track record in any form of public service? We have Donnny to look to to see how well that works out.

So far it's acting pretty much the same as the previous halving - pointless hype and then back to no man's land. We need to wait until early next year to know if it'll look properly similar. I expected nothing different to what we've had apart from the brief bonkers plunge.

I seem to recall Tether cancelling hacked balances but other than that it would be interesting to see how they handled such a thing.

The main difference between Tether and everything else is them effectively giving up the dollar redemption. You have to find a third party mug to do it.

All they're doing in the main is operating a standard ERC20 token. Not having to deal with banking for regular dweebs, other than their own druggy banking to initially fund it and the tiny inner circle who they presumably do allow to cash out, is going to massively reduce their twitchiness.

I'll guess the standard stablecoins regard themselves as extensions of the dollar with all the terror that entails. Tether are probably the opposite.

Bitcoin is freedom, independence from control and 100% transparent and predictable. That is universally appealing to most people regardless of who or what they are.

Libertarians are free to latch on to that just as much as any other political persuasion. It's open to all.

I remember Roger Ver, pre meltdown, talking about the reception of his ideas as he went around the world in his early evangelising. The one and only place where its ideas weren't universally approved of after his elevator pitch was Japan where most people who pondered it declared it scary.

It doesn't need that and in many places it already is a legal payment method. The places where it is explicitly illegal are much smaller in number.

Its moment will happen when using it is a no brainer. Right now it's still the throwing shit at the wall phase to see what sticks. No one knows what it's going to become yet. It might never be any type of currency and largely be a savings vehicle. We'll have to see.


That's my take too. Too many people here REALLY want everyone to get excited just like they are. But they're not and won't be for quite some time. Let's make sure it's still here when they do.

Never heard of that before.

At the very least report the theft to your local pigs.

As for Coinbase, no way would you be covered. Security at your end is your responsibility, not theirs. If they covered everyone's personal balls ups they'd be bankrupt with the hour.

Bitcoin is what its users choose it to be.

The majority of people don't care about its principles or don't understand them. Luckily there are enough people who keep those qualities alive because one day they might be vital.

People usually attempt to bend something new to fit in with what they're comfortable with already. It takes quite some time to get beyond that and let the underlying innovations flourish.

It's far too early to decide whether it's compromised or on its way. These have all been phases we're passing through.

It has cut down on the spam posted by people in low grade sig campaigns simply because many of them can't gain the rank to get on them.

But members often keep plugging away with crappy posts for years somehow believing their genius will be recognised without addressing why they're not progressing.

No one needs to be a genius or scholar to gain merit, they just have be a little thoughtful about their approach here. What's clear is that most are spray and pray and are too stupid or idle to get beyond that.