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The Cryptocurrency Industry Is 'On the Brink of an Implosion', Research Says

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Re: The Cryptocurrency Industry Is 'On the Brink of an Implosion', Research Says

#161
post #22

Earlier quoted context omitted.

By "second layer" do you mean lightning? Is that project off the ground yet? It's been a while since I paid attention.

It's very close, the only thing left to do is solve the Travelling Salesman problem in polynomial time.

Travelling salesman is about finding the shortest/cheapest path that visits all nodes. I don't see why you'd want to involve all nodes for a payment route.

If you meant "shortest path problem" instead, then it seems that route planners for road networks have already solved it reasonably well.

I suspect the challenges for lightning have more to do with keeping the map up to date.

Re: The Cryptocurrency Industry Is 'On the Brink of an Implosion', Research Says

#162
post #150

Earlier quoted context omitted.

All of those items can be done pretty trivially without cryptocurrency (with the sort-of exception of Venezuela, but taking money out of the country is not a legal usage in either case).

Except credit card companies don't want to touch porn sites (they have to pay a huge markup and go through other middlemen) or pot companies (who accept cash but it's not digital). PayPal froze the donations to wikileaks. That's not possible if you donate using Bitcoin. The corrupt government in Venezuela may deem it illegal but it's not immoral to want to flee the country with your wealth. This is much easier with B…

That's quite a few moved goalposts.

Re: The Cryptocurrency Industry Is 'On the Brink of an Implosion', Research Says

#163

Earlier quoted context omitted.

Do you know if any tethers have ever been destroyed? I have not seen it confirmed that this has occurred and if people were withdrawing to the dollar via USDT I would expect there to have been destructions.

To the best of my knowledge, exchanges do not allow redeeming USDT for USD.

Kraken allows selling USDT for USD. The current price is $0.94 USD.[1]

[1] https://cryptocoincharts.info/pair/usdt/usd/kraken/today

Re: The Cryptocurrency Industry Is 'On the Brink of an Implosion', Research Says

#164
post #114

Earlier quoted context omitted.

> The token itself is used to facilitate trading and many investors 'park' their gains in USDT while waiting for the market to reach a certain point or just in between trades, but that means that the token's FX value is set by the open market itself so if there are more buy orders than available USDT the price goes up and if there are more sell orders than demand the price goes down. If the USDT to USD ratio fluctuat…

In theory you could just redeem your money from the Tether issuer, if it's actually backed by USD and they deign to let you redeem them.

In theory, cows are spherical. In practice, you can't actually do this.

Re: The Cryptocurrency Industry Is 'On the Brink of an Implosion', Research Says

#165
It's interesting that an article like this pops up now. From a technical analysis perspective the entire crypto market had been exhibiting classical accumulation properties for two months now.

Before critics show up - technical analysis is not meant to predict the future, but rather to pick the more probable outcome.

Re: The Cryptocurrency Industry Is 'On the Brink of an Implosion', Research Says

#166
post #4

Those red lines on the graph are just awful: arbitrarily drawn to make things look worse. Fit an actual model and drawn on prediction intervals next time. I have never owned crypto currency, I'm just easily triggered by bad graphs.

Welcome to crypto, land of the arbitrary graph. pro tip: never read twitter streams from "crypto trader" your IQ will drop like that \

Re: The Cryptocurrency Industry Is 'On the Brink of an Implosion', Research Says

#167

Earlier quoted context omitted.

To the best of my knowledge, exchanges do not allow redeeming USDT for USD.

Kraken allows selling USDT for USD. The current price is $0.94 USD.[1] [1] https://cryptocoincharts.info/pair/usdt/usd/kraken/today

Redemption != Sell

Redemption implies a non-market transaction to turn in an asset for a guaranteed face value. For example, you redeem bonds (and bond coupons) for the face amount with the original issuer, once the bond or coupon has matured

Re: The Cryptocurrency Industry Is 'On the Brink of an Implosion', Research Says

#168
post #153

Earlier quoted context omitted.

Thanks for mentioning DAI. I mentioned DAI today in comment and essentially got banned for doing it. In comment I provided link to interview with Olaf on blog.ycombinator.com where MakerDAO was mentioned. So I got banned as spammer in HN for providing link to blog on YC. It tells a lot about the level of average HN reader.

You got flagged, not banned. But if you keep rambling about readers' intelligence, it might yet happen.

[flagged]

Re: The Cryptocurrency Industry Is 'On the Brink of an Implosion', Research Says

#169
post #150

Earlier quoted context omitted.

Except credit card companies don't want to touch porn sites (they have to pay a huge markup and go through other middlemen) or pot companies (who accept cash but it's not digital). PayPal froze the donations to wikileaks. That's not possible if you donate using Bitcoin. The corrupt government in Venezuela may deem it illegal but it's not immoral to want to flee the country with your wealth. This is much easier with B…

That's quite a few moved goalposts.

Granted the Venezuela example was a bad example of a legal use. Everything else stands though.
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