361–370 of 540 posts
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>In a sense, the market is going to take that as kind of bullish. The Levenshtein distance from bullish to bullshit is only 3.
And the distance between love and glove is only 1.. who cares ?
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Change to Bitcoin Core; hard fork; majority of miners and nodes move to new fork. The only reason we're not calling "Bitcoin Cash" by the name "Bitcoin" is that the last part didn't happen, right?
Consensus. Why would the majority people adopt broken bitcoin?
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Luna crashed because people lost trust in it. The only reason people have trust in BTC is because other people have trust in it. If that ever changed, there is no actual use for a BTC, and they are thus intrinsically worthless. Fiat currency has the backing of a government. The government demands certain payments of this currency in order to own land, and also for some extra rights like mineral extraction, fishing li…
Bitcoin also has the backing of a government - El Salvador. I would rather argue though that even government backed currencies are fully dependant on trust, not government usage of it. Just check out any government currency hyperinflation event.
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>Also, “In a sense, the market is going to take that as kind of bullish.” - a.k.a. the standard 'this is good for bitcoin' quote, applicable whatever the news is! Good observation. I may not be Warren Buffet, but it angers me greatly to see this kind of moronic chatter masquerading as informed opinion on finance or market dynamics.
Sure, it’s a commodity and trades like a commodity. Anything that stops a supply from overwhelming demand results in an increase in price. Commodities traders accept the seasonality of their assets, and arent perma-bulls, with the exception of metals traders. Bitcoin inherits a mixture of stock traders and metals traders sentiment, where perma-bulls mentality of “number go up forever” is present but less warranted. T…
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Next you will be suggesting that Tether crashing will be good for bitcoin...
It will be, on a long enough time scale. I have USD sitting in an account waiting for that to happen, in fact.
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> Is there any proof at all that they traded it to a counterparty who actually attempted to prop up UST and didn't just run off with them? This brings up an exceedingly funny point: blockchains excel at making every transaction public (a property that nearly nobody actually wants) and simultaneously offering complete privacy to institutional actors. In other words: privacy for me, but not for thee.
Reminds me of the Peruvian general Óscar Benavides: “For my friends, everything; for my enemies, the law.” The whales got a bailout, while retail got market forces.
"Al amigo, todo; al enemigo, ni justicia."
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Just as a reminder about how Mt Gox played out - it looks like all the people who lost money on it will receive 1:1 fiat-denominated compensation for their losses, Mark Karpeles won't serve a day in prison, and is likely to walk away with ~3 billion worth of BTC[1]. Who'd have thought that failing to operate a bitcoin exchange is a thousand times more lucrative than actually operating one! [1] If Mark owed you a bitc…
This information is out of date. The creditors took over the distribution process and are going to distribute the remaining bitcoin pro rata to creditors. Mark Karpales served about 2 years in prison.
I do not think ha actually did serve any time. "he was sentenced to 30 months in prison, suspended for four years, meaning he will serve no time unless he commits additional offenses over the next four years." according to https://en.wikipedia.org/wiki/Mark_Karpel%C3%A8s .
What's everyone's thoughts on Gemini dollar? Gemini claims [1] that GUSD is FDIC insured up to $250K and audited [2] by a third party called BMP [3]. I also remember reading that Gemini is used by a number of IRA custodians, so I'd assume that they're pretty heavily regulated. [1] https://www.gemini.com/dollar [2] https://assets.ctfassets.net/jg6lo9a2ukvr/VOtyB4tBb0G4FVt6Eq... [3] https://www.bpm.com/
From [1]: > GUSD is an Ethereum ERC-20 token Last time I checked (EVERY time I checked), Ethereum was still based on proof of waste. My thoughts are the same as they've been for many years straight, on everything crypto-"currency": it's a massive scam at best; more realistically, along with everything else in the proof of waste category, somewhere on the top 10 list of things most harmful to all life on Earth. I don'…