LOL!!!
Like pets.com, only totally worthless
Binance to acquire CoinMarketCap for $400M
31–40 of 60 posts
Re: Binance to acquire CoinMarketCap for $400M
#32$400 million for a consumer-facing analytics company with some SaaS data streams. HN can hate on crypto all it wants, but that's a real startup success! Great work CMC
Re: Binance to acquire CoinMarketCap for $400M
#33Earlier quoted context omitted.
> What does bankrupcy actually mean if all of the bankrupt person's assets are in crypto and only they know the private key? The bank cannot recover these assets. There are two cases: either the person declares these assets, or the person tries to hide these assets. If these assets are declared, they must be sold to pay as much as possible of the debts, or the debts won't be forgiven. If the person tries to hide thes…
They can probably leave their home country and go to some country like Russia or China (or they could probably do the reverse and come to the US if their creditors are in China) and take their crypto with them. Even in the absolute worst case, some countries won't extradite to others. Even the UK willingly accepts money from rich Russians. A lot of properties in London were bought with dirty Russian money; Russia can…
Yes, transplanting your entire life somewhere else is definitely better than obeying the law and participating honestly in bankrupcy proceedings, which are there to provide help to people unable to service their debts by providing a reset mechanism.
It's like you think bankrupcy is worse than the alternative - your debts following you everywhere, forever, even when you're utterly insolvent.
Re: Binance to acquire CoinMarketCap for $400M
#34Earlier quoted context omitted.
I also predict some utter idiots will indeed take out low interest loans and stake them in the heavily manipulated, volatile casino that is the cryptocurrency market. Then they will find themselves with a pile of debt and no way to pay it off, just as many have before when 'investing' in hokey schemes and outright scams.
> Then they will find themselves with a pile of debt and no way to pay it off, just as many have before when 'investing' in hokey schemes and outright scams. Oh, you mean like the rest of the entire banking and financial markets that led to all of the bailouts in the first place? And enriched and further consolidated the power of the 'too big to fail' institutions that continue to be rewarded for their corruption. I'…
Quick! Look over there! It's huge distraction!
Cryptocurrency is indeed a hotbed of malfeasance and manipulation. Nothing you've said even addresses that point, let alone refutes it.
Re: Binance to acquire CoinMarketCap for $400M
#35Earlier quoted context omitted.
> Then they will find themselves with a pile of debt and no way to pay it off, just as many have before when 'investing' in hokey schemes and outright scams. Oh, you mean like the rest of the entire banking and financial markets that led to all of the bailouts in the first place? And enriched and further consolidated the power of the 'too big to fail' institutions that continue to be rewarded for their corruption. I'…
Whataboutism does not strengthen your own position. Cryptocurrencies still suck as currencies and they are always just one regulatory action away from becoming practically useless for non-criminals.
> Whataboutism does not strengthen your own position.
Granted, but what you may fail to see is that Cryptocurrency is reactionary to the blatant corruption that has been normalized, the very same beahviour that the poster decries is plaguing Cryptocurrenices without providing much of an argument.
When in reality, currencies like Bitcoin continue to follow the Network's protocol that it derives its value from and has not detracted from it, despite the continuous polemics and external threats and attacks.
Sucks in what way exactly?
Because this is always a point of contention for most of its detractors. They aggregate all Cryptocurrencies into a single group, which is absurd.
Telling me how easy it is to lose a private key, thus your ability to move your funds, may be a valid point to your argument as functional (read: entirely fool-proof) key storage is still why I think its not ready for global mainstream use, in my opinion; but telling me about how a celebrity influencer Marketed alt/ICO didn't 1000x overnight as projected and instead crashed and burned as the creators absconded with the money that you read a blurb on techcrunch's twitter account is not.
Because from where I'm standing: I continue to have access to a low cost, friction-less token on an immutable ledger operating on the World's most secure Network on my phone, that I can use anywhere with wifi, and I can pay anyone who currently accepts Bitcoin and it operates 24/7 without anyone's permission.
And I can program it to do various things on top of that should I need it to, with built in trustless systems; and is also one that I can use to divide my unit of currency to 8 decimal points and still be able to operate on said network(s).
All of which incentivizes not only fair commerce and a real usecase for triple bottom line accounting, as it spurs on renewable energy as its main source as it continues to grow but also allows for previously marginalized/undocumented people into an economic system to be on boarded; unlike the exclusionary, war and fossil fueled driven fiat based system that is used to props up the Institutions I think we all know have outlived their purpose.
Re: Binance to acquire CoinMarketCap for $400M
#36Earlier quoted context omitted.
> Then they will find themselves with a pile of debt and no way to pay it off, just as many have before when 'investing' in hokey schemes and outright scams. Oh, you mean like the rest of the entire banking and financial markets that led to all of the bailouts in the first place? And enriched and further consolidated the power of the 'too big to fail' institutions that continue to be rewarded for their corruption. I'…
Quick! Look over there! It's huge distraction! Cryptocurrency is indeed a hotbed of malfeasance and manipulation. Nothing you've said even addresses that point, let alone refutes it.
You always use that red herring tactic, rather than make a cogent argument--mainly because I don't think you have an actual argument but rather sensationalist knee-jerk reactions masquerading as one--but look below: I actually outlined how and why I think it is a system can actually combat the very pitfalls I listed with current features.
Will corrupt actors use this technology to steal/scheme, sure, of course that much is inevitable of any technology; but condemning the entire protocol and aggregating them altogether as a collective failure because of that is about as useful as saying the Internet should be seen as nothing more than a den of thieves, child pornographers and counter-fitters: when we clearly know it is much more than that.
Re: Binance to acquire CoinMarketCap for $400M
#37Nomics[0] is a viable alternative for those that are now suspect of CMC.
Re: Binance to acquire CoinMarketCap for $400M
#38Earlier quoted context omitted.
I also predict some utter idiots will indeed take out low interest loans and stake them in the heavily manipulated, volatile casino that is the cryptocurrency market. Then they will find themselves with a pile of debt and no way to pay it off, just as many have before when 'investing' in hokey schemes and outright scams.
But think about it. What does bankrupcy actually mean if all of the bankrupt person's assets are in crypto and only they know the private key? The bank/creditors cannot recover these assets. So by that definition, is the person actually bankrupt if they still control all of these crypto assets? One could argue that crypto makes reckless individuals bankruptcy-proof.
You can just bury money in your backyard and not tell your creditors if you're willing to break the law.
Re: Binance to acquire CoinMarketCap for $400M
#39Nomics[0] is a viable alternative for those that are now suspect of CMC. [0] https://nomics.com
prices are incorrect for me, says eth price is 101eur when its actually 120eur
Re: Binance to acquire CoinMarketCap for $400M
#40Earlier quoted context omitted.
Agreed. The bailout money will go straight into crypto. I predict that people are going to start taking out bank loans at 0% interest to buy crypto. Crypto assets have a very unusual attribute that they cannot always be recovered in case of bankrupcy because only the owner knows the private key to their wallet and they can claim to have 'lost their keys'. Cryptocurrencies therefore offer a decentralized mechanism to…
Ironically, if cryptocurrency succeeds, it will only help to put another nail in the marxist coffin.
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