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Old 04-09-2019, 02:18 PM   #501
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at least all of that "lost" bitcoin is up 25% past couple of days.
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Old 04-09-2019, 02:21 PM   #502
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I never thought I would say it, but we should be more like China.


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China's state planner wants to eliminate bitcoin mining in the country, according to a draft list of industrial activities the agency is seeking to stop in a sign of growing government pressure on the cryptocurrency sector. From a report: China is the world's largest market for computer hardware designed to mine bitcoin and other cryptocurrencies, even though such activities previously fell under a regulatory grey area. The National Development and Reform Commission (NDRC) said on Monday it was seeking public opinions on a revised list of industries it wants to encourage, restrict or eliminate. The list was first published in 2011. The draft for a revised list added cryptocurrency mining, including that of bitcoin, to more than 450 activities the NDRC said should be phased out as they did not adhere to relevant laws and regulations, were unsafe, wasted resources or polluted the environment. It did not stipulate a target date or plan for how to eliminate bitcoin mining, meaning that such activities should be phased out immediately, the document said. The public has until May 7 to comment on the draft.
https://slashdot.org/story/19/04/09/...bitcoin-mining
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Old 04-11-2019, 11:39 AM   #503
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^^ Fuzz. You are a true crypto communist. In every sense of the word.
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Old 04-25-2019, 08:44 PM   #504
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http://fortune.com/2019/04/25/bitfinex-tether-bitcoin/

The cryptocurrency markets buckled on Thursday evening after New York’s attorney general accused the owners of a prominent exchange, Bitfinex, of using illicit transactions to mask $850 million in missing funds.

According to a 23-page legal filing, Bitfinex raided the reserves of a so-called stablecoin called Tether—a digital currency purportedly backed one-to-one by U.S. dollars—in order to pay out customers demanding withdrawals from the exchange.

The news caused Bitcoin to fall nearly 6% to around $5,100, and raise questions about the viability of Tether, which many investors use as a surrogate for dollars to move in and out of different cryptocurrencies.

The attorney general’s filing says the funds raided from Tether amount to $850 million. According to Chad Cascarilla, who is head of a company called Paxos that makes a rival stablecoin, that figure would account for at least 27% in Tether’s dollar reserves.

The filing also reproduces messages written by a Bitfinex executive last August, which plead for capital from a Panamanian payment processor to which it had transferred funds.

“The situation looks bad. We have more than 500 withdrawals pending and they keep coming in … [T]oo much money is parked with you and we are currently walking on a very thin crust of ice,” reads a message from a Bitfinex executive who used the name “Merlin.”

Merlin also warns his contact, “Oz,” that the situation posed a grave threat to the larger crypto industry and that Bitcoin “could tank” to below $1,000 if they didn’t act quickly.

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Old 04-25-2019, 08:52 PM   #505
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The libertarian wet dream has gone pretty much exactly how everyone who realizes libertarianism is really God damn stupid said it would go.
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Old 04-26-2019, 10:09 AM   #506
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The libertarian wet dream has gone pretty much exactly how everyone who realizes libertarianism is really God damn stupid said it would go.

Because the traditional regulated banking system has never experienced fraud and the ripping off of normal people
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Old 04-26-2019, 11:17 AM   #507
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Because the traditional regulated banking system has never experienced fraud and the ripping off of normal people
When this happens, is it usually a result of too few regulations or too many regulations?
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Old 04-26-2019, 04:44 PM   #508
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That's really the problem. People need to stop treating crypto exchanges like banks or investment accounts. There's only two types of exchanges: Shady ones that have been caught, and shady ones that haven't. All anyone should be doing with them is getting whatever amount they want to convert to or from real money in, and then only for as long as it takes to complete the transaction.
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Old 05-03-2019, 02:04 PM   #509
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Facebook proposes the cryptocurrency you didn't ask for and don't want:

https://arstechnica.com/tech-policy/...ryptocurrency/
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Old 05-11-2019, 12:29 AM   #510
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Originally Posted by Resolute 14 View Post
Facebook proposes the cryptocurrency you didn't ask for and don't want:

https://arstechnica.com/tech-policy/...ryptocurrency/
But will probably find you have to use whether you like it or not
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Old 05-17-2019, 11:38 AM   #511
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Prices spiked to $8,000 earlier this week. Down $1,000 today though, not sure why it was up or down though.
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Old 05-17-2019, 01:48 PM   #512
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Prices spiked to $8,000 earlier this week. Down $1,000 today though, not sure why it was up or down though.
There's a bitcoin crypto conference on (or was) apparently the price always spikes during it, read an article on it in my news feed
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Old 05-17-2019, 10:21 PM   #513
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Prices spiked to $8,000 earlier this week. Down $1,000 today though, not sure why it was up or down though.
US prices

was past 11k Canadian and sits right around 10k at the moment
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Old 06-18-2019, 09:39 AM   #514
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It was only a matter of time before someone established like Facebook entered this space.
I wouldn't be surprised if Amazon or Apple are working on it too.

Hopefully this will finally put an end to crypto fanboys saying "what, you don't believe in block chain technology?" everytime you say you're not invested in blockchain startups by unknown and unregulated companies.

The technology was always going to be adapted in a more established and regulated capacity before going mainstream and this is likely the first big step in that.
It's also likely the beginning of the end for most current crypto currencies.
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Old 06-18-2019, 09:50 AM   #515
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I was a little worried it was actually run by Facebook, but it is not:


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A note on Facebook, Inc.'s role — Facebook teams played a key role in the creation of the Libra Association and the Libra Blockchain, working with the other Founding Members. While final decision-making authority rests with the association, Facebook is expected to maintain a leadership role through 2019. Facebook created Calibra, a regulated subsidiary, to ensure appropriate separation between social and financial data and to build and operate services on its behalf on top of the Libra network. Once the Libra network launches, Facebook, and its affiliates, will have the same commitments, privileges, and financial obligations as any other Founding Member. As one member among many, Facebook's role in governance of the association will be equal to that of its peers.
https://libra.org/en-US/association-...ples/#overview


But they will be pushing it hard.


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backed by more than two dozen companies ranging from Visa and Mastercard to Lyft and Spotify. Apple, Google, Amazon and Microsoft have not yet signed up. Banks decided not to join the starting roster because of uncertainties about regulation and concerns over logistical issues that could hamper take-up
https://tech.slashdot.org/story/19/0...tm_medium=feed


Interesting Visa and MC are in on it. I'm not sure Bitcoin stands much chance against these juggernauts of finance.
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Old 06-18-2019, 10:38 PM   #516
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Is having the credit card companies also own an instrument to influence monetary policy a good idea?

If this takes off it has massive global economic collapse written all over it.
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Old 06-19-2019, 10:15 AM   #517
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Bitcoin uses as much power as Vegas:


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The conclusion of the study: The Bitcoin system has a carbon footprint of between 22 and 22.9 megatons per year. That is comparable to the footprint of such cities as Hamburg, Vienna or Las Vegas.
https://www.eurekalert.org/pub_relea...-bcc061319.php


I wonder if Libra coin is going to use a similar system. I can't imagine it makes sense to.
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Old 06-19-2019, 10:54 AM   #518
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Is having the credit card companies also own an instrument to influence monetary policy a good idea?



If this takes off it has massive global economic collapse written all over it.
Not to worry. Libertarians have assured me that markets will regulate themselves if left undisturbed.
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Old 06-20-2019, 08:54 AM   #519
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Quadriga fiasco continues: https://beincrypto.com/latest-report...of-wrongdoing/

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In a recently released report, Ernst & Young posit that the funds the company held on behalf of its users were being used for a variety of purposes that were not just limited to the exchange operations. Cotton is suspected of transferring 9,450 BTC, 387,738 ETH and 239,020 LTC out of Quadriga — some of which was reportedly used to engage in margin trading on other exchange platforms.
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Though it remains unclear whether this was an elaborate exit scam in mid-action or a long-running Ponzi-scheme ultimately exposed by an untimely death, one thing remains certain — tens of millions of dollars are missing.
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Old 06-24-2019, 04:42 PM   #520
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Why isn't anyone bragging about how bad BTC is doing lately?
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