71–80 of 255 posts
So it was their website that got hacked, not their cryptocurrency widget (or whatever the appropriate term is)? I mean, not unexpected: hit the softest part of the chain, which in this case seems to be a webserver rather than the crypto/contract. Just trying to make sure my understanding is correct.
Earlier quoted context omitted.
That only works when the money is tied to one of the core developers. Don't worry though, blockchains are immutable and safe from centralization.
Wait what? I'm not up to date on all the cryptocurrency going-ons. What's this referring to?
tl;dr dude stole coins from ethereum creators, they decided to fork it
"A software fork has been proposed, (with NO ROLLBACK; no transactions or blocks will be “reversed”) which will make any transactions that make any calls/callcodes/delegatecalls that reduce the balance of an account with code hash0x7278d050619a624f84f51987149ddb439cdaadfba5966f7cfaea7ad44340a4ba (ie. the DAO and children) lead to the transaction (not just the call, the transaction) being invalid …"
Where's the news?! Why do people continue to bang heads against the wall with this madness? Unless you're a thief, how is the craptocurrency thing better than my credit card that's insured from unauthorized use and gives me a cash back?! Yeah, you can't speculate with credit cards, and get rich quick, because $1 = $1 like forever, but isn't that what the real investment tools are for?
Just to pick up on this one small point: as I understand it, the cashback you get with a credit card is more or less taken straight from the card processing fee charged to the vendor, which of course, raises prices overall and is therefore not really cashback at all. Without the fee, you would likely have just paid a lower price in the first place. The only party benefitting from the cashback scheme is, of course, th…
But clearly people want this type of guarantee so I think the cryptopunk dream of having every human being owning a bitcoin wallet aligns poorly with what real world human beings want.
Everytime I read about long term adoption of cryptocurrency by the masses I always end up asking myself the same question: "Why would a random person for whom money is not a political statement care about any of that? What's the added value?" As far as I'm concerned I still haven't found a satisfactory answer to this question.
Where's the news?! Why do people continue to bang heads against the wall with this madness? Unless you're a thief, how is the craptocurrency thing better than my credit card that's insured from unauthorized use and gives me a cash back?! Yeah, you can't speculate with credit cards, and get rich quick, because $1 = $1 like forever, but isn't that what the real investment tools are for?
Just to pick up on this one small point: as I understand it, the cashback you get with a credit card is more or less taken straight from the card processing fee charged to the vendor, which of course, raises prices overall and is therefore not really cashback at all. Without the fee, you would likely have just paid a lower price in the first place. The only party benefitting from the cashback scheme is, of course, th…
Yes, if the recieving bank won't honour a cash-back then it will come out of card processing fees, but that's more like insurance than anything else. I wouldn't say that insurance is without worth.
Also, BitCoin has transaction fees. Except rather than being used for insurance, they provide a (very poor) profit motive for miners to continue keeping the network hashing rate high. The reason it's clearly a poor profit motive is that the popular markets around BitCoin are secondary markets (selling graphics cards rather than doing the mining yourself).
Earlier quoted context omitted.
I think GP means that if you have $100 in your bank it'll still be there tomorrow, not randomly erradicated by volatile swings in the market or stolen with no way to get it back. That said this is only true if you have faith in your government.
Right, but it can also be frozen due to the whims of the bank, garnished by the IRS, taken by wire fraud... Obviously cryptocurrencies are sharp tools, but they're stronger financial primitives than what we have. We just need to use them to rebuild the consumer-facing components.
For anyone wondering, 45k ETH is about 7.65M USD.
I wonder what happens if someone wants to liquidate this amount to USD immediately. Has ether got enough liquidity to handle it :)
When deals are large enough, sometimes they are even executed as a set of "tranches" (large set of smaller transactions over time) so the transfer isn't easily traceable and counter-parties remain largely unknown.
Where's the news?! Why do people continue to bang heads against the wall with this madness? Unless you're a thief, how is the craptocurrency thing better than my credit card that's insured from unauthorized use and gives me a cash back?! Yeah, you can't speculate with credit cards, and get rich quick, because $1 = $1 like forever, but isn't that what the real investment tools are for?
Just to pick up on this one small point: as I understand it, the cashback you get with a credit card is more or less taken straight from the card processing fee charged to the vendor, which of course, raises prices overall and is therefore not really cashback at all. Without the fee, you would likely have just paid a lower price in the first place. The only party benefitting from the cashback scheme is, of course, th…
Running a P2P-ICO over a centralised server. Good job coindash. That's exactly what you deserved.
Do other ICOs do a better job distributing instructions? EDIT: so, apart from posting the address across as many channels as possible, and telling people to cross-check, what options are there? You could announce addresses way beforehand and have them send ETH to the final address once you release it, using that as a signal.
Earlier quoted context omitted.
I think GP means that if you have $100 in your bank it'll still be there tomorrow, not randomly erradicated by volatile swings in the market or stolen with no way to get it back. That said this is only true if you have faith in your government.
Right, but it can also be frozen due to the whims of the bank, garnished by the IRS, taken by wire fraud... Obviously cryptocurrencies are sharp tools, but they're stronger financial primitives than what we have. We just need to use them to rebuild the consumer-facing components.
It is a 3000 year old problem.
Trust. In short, is big business.
Earlier quoted context omitted.
Everyone in cryptocurrency seems to have forgotten that the adage "the devil you know vs. the devil you don't" was a recommendation to prefer the former .
Everyone in Crypto Currencies are besotted by the "we are in at ground level of a tech revolution" idea... namely they think they saw the kids of the 80s/90s get easy low qualification required tech jobs and one man shops making 100s/millions/dollars. They are the modern prospectors. Free gold on unclaimed land. Like any decent business thinker you don't see the rough edges of your focus. Sometimes when you do it can…