161–170 of 174 posts
>"However, the hacker was only able to siphon off $25 million; the rest was locked into the protocol after system admins got alerted." "Only" ?!!! Poor thing.
Yeah $25m is only little but could still be useful
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If your definition excludes Ethereum your understanding of the term so differs from everyone else's that we aren't talking about the same thing
Ethereum is a great utility token. Smart contracts absolutely have utility in the digital economy. It's just not a cryptocurrency, is all. It had a massive premine, there's no supply cap, it's subject to OFAC censorship, and has effectively demonstrated that just ~4.8% of the total ETH supply can vote to cause rollout and widespread adoption of a fork that reverses transactions. We need different words for these fund…
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It's a calculated risk. They know the VIN number and I assume made a copy of your photo ID.
If you get scammed, it requires you to sue, many EU countries have very long waiting times for those, so you'll be carless and money less for a long time. Cash or crypto solves this elegantly.
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If you get scammed, it requires you to sue, many EU countries have very long waiting times for those, so you'll be carless and money less for a long time. Cash or crypto solves this elegantly.
How does crypto solve this? You still have to send the funds and hope they give you the car - it's exactly the same as a bank transfer.
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At a traditional bank you have your national deposit insurance scheme; you get that in return for converting your "assets" to the said nations issued currency but accept the authorities control of the money supply and your funds. With decentralised money, you get the safety of a globally distributed attestation backed by cryptography without a single authority controlling the supply of money or your funds. There is n…
I mean you're just making bare assertions, of course there are halfway options. Different components of the account or relationship can have different parameters. Most crypto products are not the equivalent of depositor accounts anyway, they wouldn't be insured necessarily at a traditional bank either.
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If your employer does direct deposit of USD into your USD bank account, you don't need stable coins. This is not the case for most people outside of the U.S.
I am outside the US. Many of my assets are in USD and USD-denominated securities. I've never touched a stablecoin. Waiting to hear what "most people outside the US" are supposed to need those stablecoins for.
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Nope, that is the foundation of bad stablecoin. Trustless decentralized stablecoin like DAI exist. People just largely don't do their homework and prefer scams that lure them in with promises of 'yield'
DAI and SKY are backed in large part by USDC, so they are not truly decentralized. It is possible in theory, but nobody has successfully done it so far.
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I mean you're just making bare assertions, of course there are halfway options. Different components of the account or relationship can have different parameters. Most crypto products are not the equivalent of depositor accounts anyway, they wouldn't be insured necessarily at a traditional bank either.
Most "crypto" products aren't even crypto but custody accounts. But that doesn't change the fact that blockchains that can be controlled by specific entities unanimously are a joke of a crypto.
And what happened next? He mixed those coins? Transformed them into monero?
first step is to turn them into real crypo like ETH (so its unfreezable) then probably mix them via different methods then sell them via OTC-style swap platforms like fixedfloat / changelly etc
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Most people don't realize they're inside a plexiglass shielded financial jail until they try to do something like wiring money for some legal activity in someplace spicy or on the FATF grey list. If you fall into the middle bands of uses, or in the upper class that can just bend or make the rules, then the financial system is well oiled and it looks like the people questioning it are just cranks. It's true that a lot…
This comment isn't really beating the rap that the primary purpose of stablecoins is to facilitate crime.