81–90 of 102 posts
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BTC is currently $11.5k USD, market cap $200 billion+. This is a valuable asset.
Yeah but like, what's it valuable for ? It seems like commodity trading, except the commodity that is being traded is who gets stuck holding the bag when it all collapses. There's no real value there.
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BTC is currently $11.5k USD, market cap $200 billion+. This is a valuable asset.
Many things appear to be a valuable asset, right up until the moment they aren't. In mid-2000, Enron stock was a 'valuable asset.'
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Yeah, it was previously a Magic The Gathering exchange, and then converted to a Bitcoin exchange. They learned the hard way you need a higher standard of engineering for a financial exchange.
Wasn’t it an inside job? Or Arles the heavily speculated?
This has been going on for quite some time, and I would be embarrassed if I were a part of Twitter's engineering team. From a technical standpoint these types of scam tweets should be easily identified as spam and the fact that they aren't is damning.
It's not just Twitter. Fake SpaceX "live" streams with a couple thousand viewers regularly pop-up in my YouTube recommendations. They're peddling the same kind of crypto scams.
It’s even more maddening that there is no way to report that a YouTube channel has been compromised, there are only report options for inappropriate content of various sorts.
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It's money not controlled by any single government or entity. It can be exchanged almost as easily as cash. If you don't see the use in that, then good for you, your needs must be met by the existing financial services. Personally, I used it to buy electronics in Japan, worked well. Also used it to sell my VR headset in person, because Paypal and our banks didn't allow the transfer. I use it to tip and donate to vari…
I've bought things with BTC (I believe I am rare insofar as I have never bought BTC but have spent them...) and having frequently used cash, I can assure you that spending BTC is not even remotely as easy as spending cash.
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Many things appear to be a valuable asset, right up until the moment they aren't. In mid-2000, Enron stock was a 'valuable asset.'
That said a lot of people have grown old waiting for the Bitcoin bubble to burst.
So cryptocurrency is dead, right? After some brief interest around the middle 2010s, where some vendors actually did accept it, they seem to have all revoked their support for it. All that it seems to be used for now is scams, ransomware, and pump-and-dump schemes.
> cryptocurrency is dead, right? No, not quite. Total new investment into the space is falling. But it’s nowhere close to zero. It will probably never totally die. Instead, like baseball cards or beanie babies, it will atrophy into obscurity. There are enough people who have sunk enough into the project—financially, reputationally—that, barring a depression, it will continue to have backers for at least another few d…
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Except no, the exact reason I do/did these things with crypto is that I couldn't as easily do it with the existing infrastructure. Buying at a Bitpay PoS in Japan is just scanning a QR code, instant confirmation (Wechat easy but even foreigners can use it). A P2P sale for a non-insignificant amount of money (~$1.5k): rejected by Paypal, inter-bank transfer would take days to go through. BTC was 5 minutes to wait for…
> inter-bank transfer would take days to go through In the UK bank transfers are practically instantaneous. It's nuts that the US is so far behind on this.
I observed something similar that began earlier this year. I wrote about it on the Tenable blog. They impersonate many of the people following Trump and engaging with his tweets, irrespective of party affiliation. https://www.tenable.com/blog/cryptocurrency-scams-fake-givea...
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I was a Bitcoin skeptic for years so I understand this point of view. This point of view makes sense if you assume that the financial system works properly which is what the vast majority of people still assume. The vast majority of people are wrong. The financial system doesn't work; it's easy to exploit. It's no coincidence that many cryptocurrency enthusiasts are hackers; they found vulnerabilities in the system a…
You seem to be confusing two things - system working and system being un-exploitable. Example - it's pretty easy to shoplift in any of the retail shops. In fact, shoplifting happens all the time. Still, nobody would claim retail model doesn't work because people would just come and shoplift everything and nobody would pay and the retailer would go bust. What actually happens is that vast majority of people do not sho…
Also, politicians never answer my emails and I did try. I must be living on a different planet.