This is veering off-topic, but is anyone else finding the Bloomberg menu nearly impossible to use/borderline broken? It activates on hover, but to actually click on a story you have to get past a secondary list of categories that also acts on hover (hiding the story you intended to click on). If you move the mouse diagonally instead, chances are you'll activate a different top-level menu. I felt like I had to dodge around menu elements just to be able to click on anything.
Bitcoin Exchange Had Too Many Bitcoins
71–80 of 241 posts
Re: Bitcoin Exchange Had Too Many Bitcoins
#72It is hilarious watching people try to reinvent financial institutions without any knowledge of or respect for history.
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Re: Bitcoin Exchange Had Too Many Bitcoins
#73Earlier quoted context omitted.
Matt sums it up well in a footnote: Imagine if I announced tomorrow that I had created a new blockchain, called Bitcoin Matt, and that everyone who owned a BTC today will tomorrow own both a BTC and a BCM. Fine, great, you all own BCMs, congratulations. But also anyone short a BTC today will be short a BCM tomorrow, and will be forced to go buy in those BCM shorts. Even with no economic support for BCM -- with nobody…
I hate to be That Guy [tm] but can you please not indent quotes like that? It's a PITA to read on mobile.
Get a better phone browser?
Re: Bitcoin Exchange Had Too Many Bitcoins
#74Bit tangential, but I read an interesting theory this morning: Because there is greatly reduced liquidity of BCH (most exchanges don't support, hard/slow to deposit into exchanges that do), supply of BCH is artificially limited at the moment. Proponents of BCH can trade their BTC for BCH at a rate greater than they believe it is worth to easily pump the value and 'market cap' (most market cap stats have no measure of…
In the end, we're all pawns in the game of making the super-rich even more wealthy, aren't we? insert defeated sigh of resignation here
Pawns? More like cattle.
Re: Bitcoin Exchange Had Too Many Bitcoins
#75Earlier quoted context omitted.
I hate to be That Guy [tm] but can you please not indent quotes like that? It's a PITA to read on mobile.
Get a better phone browser?
Don't post that without an actual recommendation. Which mobile browser renders that legibly?
Otherwise it's just noise.
Re: Bitcoin Exchange Had Too Many Bitcoins
#76It is hilarious watching people try to reinvent financial institutions without any knowledge of or respect for history.
They are just exploring the solution space, with minimal baggage to hold them back. The real problem, is that people are trying to make a living off of something that is still experimental / alpha level maturity.
Seems like the people who do understand banking history are unwilling or unable to make any kind of improvements, at least in regards to the issues that digital currencies are working to address.
Re: Bitcoin Exchange Had Too Many Bitcoins
#77Earlier quoted context omitted.
Except your clone doesn't have miner support, community support, and get listed by major exchanges. I hate that people are acting like anyone can just go and make a fork for free money.
I'm not sure what you're saying here. Are you claiming that Bitcoin Cash doesn't have those things? Or are you saying that those things are important factors which differentiate Bitcoin Cash from other forks?
"Nothing stops me from just announcing that I've cloned a copy of the bitcoin blockchain for BCM"
You can't just make random forks and have them be worth something. This is the culmination of years worth of debate and has a significant community following.
Re: Bitcoin Exchange Had Too Many Bitcoins
#78Earlier quoted context omitted.
Except your clone doesn't have miner support, community support, and get listed by major exchanges. I hate that people are acting like anyone can just go and make a fork for free money.
The point is, what's the threshold for "enough support"? Already for Bitcoin Cash, different exchanges have come to different conclusions on whether it's sufficiently supported to list on their exchange.
There is no threshold, it's clearly a gradient. Some exchanges want to list it, others don't. Certain exchanges listing it gives it more value than others, and if it's impossible to trade/spend, then the coin has 0 value.
Re: Bitcoin Exchange Had Too Many Bitcoins
#79Re: Bitcoin Exchange Had Too Many Bitcoins
#80Earlier quoted context omitted.
1. Organization implements foolish policy 2. Thousands of people make trades according to foolish policy 3. Organization changes terms of foolish policy, telling nobody. 4. Organization then waits until after the fact to tell everyone that they have changed the policy, which dictate d the actions of a non trivial percentage of their customers. If you're going to try to look like a legitimate exchange, this kind of th…
If you're going to try to look like a legitimate exchange, this kind of thing looks pretty unseemly. Oh I agree! The whole thing has bitfinex looking a little foolish. It was step #1 that was the problem though. Steps 3 and 4 were them fixing it as best they could. Those parts weren't mistakes, it's just them keeping you from stealing Bitcoin Cash from their other customers.
I don't really see how it's stealing from their other customers when anyone with a nonzero BTC balance could have shorted BTC with BTC in their margin account.
Somehow I'm penalized for trying to maximize my profit based on the terms that were stated, even though that's what every single other person on the exchange is doing. Basically they chose to favor those who didn't understand the terms or what was going on in favor of those who did.