Earlier quoted context omitted.
You can't pay your taxes in Bitcoin.
as you can't pay them with gold..
Gold doesn't claim to be a currency just as real as the Dollar.
Bitcoin Cash deals frozen as insider trading is probed
51–60 of 204 posts
Re: Bitcoin Cash deals frozen as insider trading is probed
#52"Brian Armstrong responded that he had repeatedly warned his staff not to disclose its launch plans to family or friends or to trade in the digital asset themselves." So the whole staff new about this move, from which it is to be expected to move the market when published? Charitably put, that's naive.
Companies release products which will change the value of their stocks all the time.. this is exactly how such events are managed. What else could be done? lock up employees at work for a week while the market adjusts?
What else could be done? lock up employees at work for a week while the market adjusts?
An email to everyone, a press release, a blog post stating this new feature will be available to everyone in x days at time T. That would be fair game.
Re: Bitcoin Cash deals frozen as insider trading is probed
#53This is the second event involving BCH which is looking very "artificial" for the lack of a better word. About a month ago, BCH started an abrupt up-climb while the prices on BTC started to fall dramatically. BTC recovered soon after by hitting all-time highs while BCH prices fell pretty hard. Now we get these talks of insider trading at Coinbase. I don't have much stake in cryptocurrencies and I actually did not mind the BCH fork, hoping that the 2 cryptos can just co-exist. But from what I'm seeing now this has nothing to do with advancing Bitcoin and is just a money grab by Roger Ver.
Re: Bitcoin Cash deals frozen as insider trading is probed
#54Earlier quoted context omitted.
> Bitcoin allows me to be my own bank. I too, like to live dangerously. I run a mail server. A web server. Damn, I was tempted to (partially) host my DNS. But running my own bank? Hell no. Those who ever had to touch things like PCI compliance or seem actual money transaction requirements will want to stay far, far away from being their own bank, so good luck there, you'll need it. > It allows me to save my money out…
Sounds like you're intentionally trying to be disagreeable. You don't like the features Bitcoin provides. That's fine, don't use it. Plenty of other people do like them. That's what gives Bitcoin its value.
I started writing a long comment about currencies, assets, rarity, and a few more things, but I realized it's pointless.
Please get some history books out and read about money. Read about ancient Rome and what problems rose when mad emperors decided to replace money with new coins out of the blue. Read about why and how the US dollar is not based on gold any more. Read about hyperinflation after WWII. Money is regulated to protect us from ourselves.
Now take a look at the war between BTC and BTH, at how the majority of miners are not willing to overcome technical issues and work together, the incredibly waste of energy and hardware, computing the nothing, and tell me: do you honestly think it's not history, repeating itself, just in another light?
Of course, there are always some who don't care, "get rich or die trying". I'm not one of these believers.
Re: Bitcoin Cash deals frozen as insider trading is probed
#55I will not hesitate to terminate the employee
Surely if there is wrongdoing it is not the work of one employee.
Re: Bitcoin Cash deals frozen as insider trading is probed
#56The initial BCH trading on GDAX was pitiful. They shut it down really quickly.
Re: Bitcoin Cash deals frozen as insider trading is probed
#57Earlier quoted context omitted.
Cryptocurrency is useful. Bitcoin allows me to be my own bank. The rules of consensus define characteristics of money I believe are important. It allows me to save my money outside of the global financial system, a system I believe is corrupt and manipulated. It allows me to program my money, something never before possible. It allows me to transact freely, with whomever I please. Money is whatever people believe it…
> Bitcoin allows me to be my own bank Sure. If you think the only function of a bank is to maintain a ledger and transfer money.
Yeah, it's yet another instance of people going "how hard can it possibly be?" and finding out the answer is "oh, pretty hard..."
Re: Bitcoin Cash deals frozen as insider trading is probed
#58Earlier quoted context omitted.
> Bitcoin allows me to be my own bank Thanks suckers for giving me your warm wallet.....time to fake a hack and shut down this sucker. > The rules of consensus define characteristics of money I believe are important My $20 request to get on the blockchain STILL isn't done after 5 weeks!!! > It allows me to save my money outside of the global financial system Oh no my Xcoin crashed 50% today!! > a system I believe is…
you funny.. hacks happen less then let's say you're mugged on the street or your bank account is emptied by carders/hackers. The rest is just not true, the fees are high now because companies are slow to adopt seqwit and lighting network is in the works. But hey the FED printed another few billions of dollars, fancy calling it quantitative easing, that devalues your money and makes assets expensive.
If I'm mugged, I'm not typically carrying my entire life savings.
If my credit card number is compromised, I report that to the bank and the money shows back up in my account in short order.
My money doesn't seem to have been significantly devalued by quantitative easing - inflation stayed at very low levels throughout the process.
Re: Bitcoin Cash deals frozen as insider trading is probed
#59But but but crytocurrency is so useful right?? 1.) It's just like dollar! Shoot, coinbase won't allow me to trade it for 3 months! Every country is banning it? It went up 20% then dropped 50% today?! 2.) It's just like Visa!! Damn it costs me $500 to send $500 3.) It's just like gold! So rare....oh wait, another crytocurrency just came out with 100M unit of supplies. 4.) It's just like the bank!! Damn another exchang…
If you take the time to learn what's trustworthy, principled, and safe...you won't have any of these issues. Except (2), but that's being worked out right now. Furthermore, it's way too early to compare crypto to established finance. Just because crypto awareness has gone mainstream, doesn't mean it's ready to compete just yet. It's still technology for early-adopters. Those who don't understand that will get screwed…
I will say that one of the early benefits to bitcoin, low/nonexistent middlemen fees, is not really a thing anymore. Every single time you move across wallets, at current prices no matter how much coin you're moving, you're out the equivalent of $20USD.
Considering that basic BTC opsec is to move your coins around regularly, this is painful unless you have insane amounts of money to throw around.
Re: Bitcoin Cash deals frozen as insider trading is probed
#60So should I sell the BCH in my wallet right now, before 9AM PST?