591–600 of 790 posts
Earlier quoted context omitted.
Can you name off the top of your head 5 great inventions that weren't immediately realized?
Notably, the internet was widely thought to be a fad for the first ~20 years.
> whatever smidge of trust Turns out the "trustless" in crypto means "you can't trust anyone".
https://news.ycombinator.com/newsguidelines.html
We detached this subthread from https://news.ycombinator.com/item?id=33522825.
Some more background: the companies were engaged in fighting over regulations, and on a personal basis between the 2 CEOs. It went down to really childish levels at some point. But one thing is undeniable: SBF (FTX CEO) was trying to weaponize US regulation against his biggest rival CZ (Binance CEO). CZ retaliated by selling the FTT token, exposed the fact FTX was over-leveraged, and took over. This is, as the kids o…
> It went down to really childish levels at some point. Childish bullshit in the cryptocurrency market?!??! I am absolutely shocked and surprised, such a thing is completely unprecedented...
Binance was threatening to dump a huge amount of FTT tokens on the market. FTX has a big+vulnerable position in FTT. FTX asked Binance to sell them the tokens for a fixed price, so as not to crash the FTT token price. Binance declined - this was yesterday/today. Of course the price of FTT crashed today. And now Binance buys FTX to help them out... smells like Binance played 4D chess all along. https://decrypt.co/1136…
> Binance was threatening to dump a huge amount of FTT tokens on the market. FTX has a big+vulnerable position in FTT. FTX asked Binance to sell them the tokens for a fixed price, so as not to crash the FTT token price. Binance declined This makes absolutely no sense and is not how markets work. If FTX was actually willing to buy unlimited FTT at a given price, Binance could not have "crashed the price" by selling be…
Earlier quoted context omitted.
Can you name off the top of your head 5 great inventions that weren't immediately realized?
I’m not saying whatever that is is a great invention but Alternating current… Computers… Smartphones… The internet…
Earlier quoted context omitted.
Can you name off the top of your head 5 great inventions that weren't immediately realized?
Notably, the internet was widely thought to be a fad for the first ~20 years.
Earlier quoted context omitted.
> Binance was threatening to dump a huge amount of FTT tokens on the market. FTX has a big+vulnerable position in FTT. FTX asked Binance to sell them the tokens for a fixed price, so as not to crash the FTT token price. Binance declined This makes absolutely no sense and is not how markets work. If FTX was actually willing to buy unlimited FTT at a given price, Binance could not have "crashed the price" by selling be…
Alternatively FTX was confident they could make the purchase given time, but did not have the funds on hand.
Binance was threatening to dump a huge amount of FTT tokens on the market. FTX has a big+vulnerable position in FTT. FTX asked Binance to sell them the tokens for a fixed price, so as not to crash the FTT token price. Binance declined - this was yesterday/today. Of course the price of FTT crashed today. And now Binance buys FTX to help them out... smells like Binance played 4D chess all along. https://decrypt.co/1136…
FTX should never been in this position. They are an exchange . Nobody should be able to obliterate them by playing around with their crypto.
Earlier quoted context omitted.
Why not both? Centralized where people trust, decentralized where people don't trust. In my interpretation, the Bitcoin white paper states that BTC is an answer to _the lack of regulation_ that allowed the fat cats to abuse the money supplies. It's kind of ironic, but to see crypto as purely anarchistic is to ignore that it is essentially _democratized_ money. Both: I use exchanges as well as cold storage.
I never understood. Where's the democracy here, exactly? A regular user cannot afford to participate in the decision making of the system in any meaningful way. In fact, today, most users don't even directly use it, instead relying on processors such as Coinbase. The "not your keys, not your coins" meme exists due to this. The original paper described a democratic system where people voted with their processors, but…
Significantly less, as the central bank is usually at least accountable to the democratically elected government of the country.
Earlier quoted context omitted.
Buying MDMA safely. This isn't a joke. Drug prohibition causes harm, crypto provides a much safer way to obtain psychedelics. If all your purchases are safe for the state to be aware of, good for you.
It seems insane to me people would buy/sell drugs in a prohibition nation on a public ledger.
Meanwhile the local authorities don't know what most of those words mean.