111–120 of 145 posts
Crypto: Going from banking the unbanked to unbanking the banked!
This isn't an issue with crypto. This is a centralized exchange that has halted deposits and withdrawals through bank transfers.
That'll be a market contraction of 1000x. The uses of crypto will then be extremely limited.
I think it's safe to say that exchanges are crypto for most people.
Earlier quoted context omitted.
Ah, it seems you're one of many who confuses "crypto" with cryptography and cryptocurrency. Cryptography is used for encrypting your files, not cryptocurrency. But it's a easy mistake to make so don't feel bad over it.
Literally the only reason ransomware is a thing is because of cryptocurrency. Every oil pipeline, school, hospital, farm, old age home that's ransomed is 100% thanks to Bitcoin and its progeny. But hey, at least it's found a use case.
> One of the first ransomware attacks ever documented was the AIDS trojan (PC Cyborg Virus) that was released via floppy disk in 1989. Victims needed to send $189 to a P.O. box in Panama to restore access to their systems, even though it was a simple virus that utilized symmetric cryptography.
[1] https://www.crowdstrike.com/cybersecurity-101/ransomware/his...
Earlier quoted context omitted.
These lessons will be quickly forgotten at the next bull run, whenever that will be.
How well do those "this boom is different!" books sell? Maybe I should start writing one now, just to have it ready....
Earlier quoted context omitted.
How can we be sure that what's in those wallets is 10% of what it should be rather than 1%? AFAIK, none of the documents from Binance are public, especially regarding their finances.
Not sure I understand. WalletA has $300m BUSD and WalletB has $420m BTC. Both wallets are 'owned' by Binance. This is lower than the $1b funding on Jan 29th, 2022, but it is still a significant amount of "real" (if you believe crypto has value) funds. This is just an insurance fund that we are talking about here. I think you're referring to the rest of Binance proof-of-reserves, which are here. Note, I fully realize…
Cryptocurrency is just an attempt by fraudsters to repeat all of the previous scams on a brand new banking system. It turns out there’s actually a reason we have so many laws.
Earlier quoted context omitted.
I don't care that the industry uses someone's tomatoes :) I merely care about the fact that the tomatoes are being called non-industrial even though they are 100% factory grown. I.e. Binance is not "crypto".
Are you going to sit here and pretend that centralized marketplaces aren't how the vast majority of people deal with crypto?
Earlier quoted context omitted.
Literally the only reason ransomware is a thing is because of cryptocurrency. Every oil pipeline, school, hospital, farm, old age home that's ransomed is 100% thanks to Bitcoin and its progeny. But hey, at least it's found a use case.
From: History of Ransomware [1] > One of the first ransomware attacks ever documented was the AIDS trojan (PC Cyborg Virus) that was released via floppy disk in 1989. Victims needed to send $189 to a P.O. box in Panama to restore access to their systems, even though it was a simple virus that utilized symmetric cryptography. [1] https://www.crowdstrike.com/cybersecurity-101/ransomware/his...
Funny how Kraken/Nexo/Coinbase etc can still manage to maintain sterling deposits and comply with the regulators. I like Binance, but they dropped the ball in the UK market.