All posts made by Ultrafinery in Bitcointalk.org's Wall Observer thread
1.
Post 13204947 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.37h):
Low fee transactions could take days to confirm. Zero fee xactions may never confirm.
Sounds like it will finally work like it should be.
The blockchain is too valuable a resource to be wasted by zero and ridiculously low fee txs.
And it's not only scaling but usability too. If I have a 100mb block size and it takes me a couple of hours just to sync the last day or a day to sync the last week (before I send a payment), will this be usable? Or will people say, ah yes, now you lost the ability to run bitcoin-qt, just use a thin client...
That's either stupid or dishonest. Nobody is proposing 100 MB blocks and won't unless bandwidth gets much much greater. The design is for block reward to subsidize miners until the network grows big enough to be supported on fees. How is that possible with ~ half million xactions/day?
This is supposed to be a peer to peer network for the people, not <1 million elitists, criminals and middlemen.
We have different interpretations of stupidity.
When I have a system that has a hole in it (bloat in blockchain through low or no fees, that can be abused as an attack vector and kill bitcoin usage and adoption in the long run), I will not go and make it larger so that someone else can sink my boat. *That* is stupidity.
Scaling is not an issue right now. Not the processing of transactions. If you want to make a legitimate transaction, you'll pay a normal fee and you'll be processed in one block.
If you enlarge the block before scaling becomes an issue, then you open the attack vector wide open for further abuse (because it is already abused with over half the transactions being dust and spam). This is beyond idiotic.
I believe when the time comes, and the need is real, the block size can be increased. If it doesn't, there will be just some fee competition that prevents a lot of low and very low value tx. So what? This is certainly the lesser of the two evils involved here.
TL;DR: Keep Bitcoin as a smaller & more uncertain version of fiat. Make sure it also becomes more expensive to transact with.
Put off solving Bitcoin's principal problems for later, because totally good enough for now.
This will really drive adoption.
2.
Post 13205280 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.37h):
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TL;DR: Keep Bitcoin as a smaller & more uncertain version of fiat. Make sure it also becomes more expensive to transact with.
Put off solving Bitcoin's principal problems for later, because totally good enough for now.
This will really drive adoption.
And downloading terabytes of blockchain bloat will?
If increasing the blocksize is not a solution you like, then there is no [apparent] solution. Life's like that -- some problems don't have elegant solutions.
Bitcoin is a protocol and while it is true that scaling issues exist, they are being worked on to find solutions. But nobody says we all have to use just one blockchain for storing everything, and doing so with zero cost. This is not feasible. We can transact with Dogecoins for the lulz if we want to. It's still bitcoin-based tech. You can have 100 chains, or 1000 chains. The sky is the limit.
'Bitcoin-based tech' is not bitcoin. The 'bitcoin-based tech' that solves Bitcoin's shortcomings will dominate. Good money drives out the bad.
As for cost: In Greece, in order to conduct a bank wire from one bank acc of bank A to another bank account of bank B, it goes like cost 1 euro for sender, cost 3 euro for receiver. Total 4 euros of charge even if I transfer like 10 euros. Do you think this puts people off from transacting with the banks?
Transact != wiring money from bank to bank. If you had to pay 4 euros for a candy bar (on top of the cost of the actual product), you'd have a point.
Not much call for a riskier version of SEPA.
3.
Post 13205329 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.37h):
problem: it doesn't cost "transaction fees" to use debit card or fiat paper to buy something.
So in real life you have multiple payment systems for different purposes, with multi-tiered costs, speeds etc.
In Bitcoin you want to make from microtransactions to billion $$$ transactions, in the same way, with the same speed, with the same minimal cost. Ah well, give it some time until it gets there, right now it clearly isn't capable to scale to that level. And it won't be by doubling or quadrupling, or 1000x the block size. You can't scale such a system to the degree that hierarchical systems do, but other problems plaguing hierarchical systems are dealt with. It's a balancing act.
But you do understand that the whole appeal behind Bitcoin is the fact that it could, potentially, eliminate the need for banks, payment processors, and all the associated expenses, right? That's the part that appeals to people who are not laundering money/running ransomware extortion schemes/buying drugs on DNMs.
Take that away, and what's left is ...yeah, you got it -- straight-up criminal uses.
4.
Post 13205497 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.37h):
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Bitcoin, as a protocol, can do that. But it doesn't need to be ONE chain for everything.
What does that even mean? Bitcoin as the backing in 'bitcoin gold standard'? Why not simply dispense with Bitcoin altogether, and go with a currency which works without Goldbergian kludges? Because there are Chinese chicken coops full of toasty hardware, AKA 'world's most powerful supercomputer'?
Gold was currency.
Silver was currency.
Copper was currency.
Copper? Not really. That's for zerohedgers who wana be goldbugs but ain't got the bux.
When Gustavus' daughter and heir Christina reached maturity at 18, after a brief fling with paper-based money backed by copper—which was well received initially but soon lost credibility—she began issuing copper in lumps as large as fifteen kilograms to serve as currency. Unwieldy as they were, the copper-based monetary system worked to a fashion until the world copper price slumped. Sweden's great copper no longer commanded the premium it once had on world markets, and foreign income dried up. Relative to the rest of Europe, Sweden's people once more had become poor.
5.
Post 13205705 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.37h):
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Bitcoin, as a protocol, can do that. But it doesn't need to be ONE chain for everything.
What does that even mean?
Just because one hard disk doesn't fit the world's data it doesn't mean that hard disk drive was a useless invention.
We can still use multiple hard disks, even with their finite capacity limits.
Likewise, we can use multiple blockchains to store transactions and other stuff.
No, HDs aren't useless, and neither were floppies, and neither were punchcards/tapes. Curiously, all the world's data isn't stored on punchcards any more.
What you're suggesting is 'forget about HDs, we'll just use a whole bunch of punchcard systems.' Theoretically possible, though suboptimal. Sounds like you're simply trying to invent uses for the tokens you already own.
Copper? Not really. That's for zerohedgers who wana be goldbugs but ain't got the bux.
Historically it was. This can't be disputed really.
Gold = high denomination coins
Silver = medium
Copper = small
What I'm telling you is there were no lasting monetary systems using triple metal standard in recent history. Sure, almost everything was used as money at one time or another, but now even gold and silver are relics.
6.
Post 13205975 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.37h):
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bitcoin is digital gold of the internet and probably always will be.
...
Bitcoin is the Altair 8800 of the internet, and always will be.
Sure, clock it up, add a fancy 1200 baud modem, but you're still stuck with
7tps S-100 bus.
7.
Post 13206042 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.37h):
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bitcoin is digital gold of the internet and probably always will be.
...
Bitcoin is the Altair 8800 of the internet, and always will be.
Sure, clock it up, add a fancy 1200 baud modem, but you're still stuck with
7tps S-100 bus.
Said the central banky shill who socks for 3-5 day, $35 wire transfers. That don't make it in time to pay rental car insurance.
Oy. The goyim are restless...
8.
Post 13208211 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.37h):
And downloading terabytes of blockchain bloat will?
Bitcoin is a protocol and while it is true that scaling issues exist, they are being worked on to find solutions. But nobody says we all have to use just one blockchain for storing everything, and doing so with zero cost.
Having a second blockchain does absolutely nothing to reduce bloat. In order to use a federated blockchain in a trustless manner requires the user to download the entire bitcoin blockchain plus the entire federated blockchain. This can be no smaller than the bitcoin blockchain would be if all transactions were done in bitcoin. What's the point?
Multiple blockchains do not reduce bloat on aggregate, they multiply it. However, you only download the blockchains you want. You are not forced to use 1000 blockchains if there are 1000 altcoins. You only download and use those that you like.
So if I download blockchain A (and the Bitcoin blockchain), and you download blockchain B (and the Bitcoin blockchain), what do we do if, for some weird reason, we want to do business?
9.
Post 13208309 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.37h):
So if I download blockchain A (and the Bitcoin blockchain), and you download blockchain B (and the Bitcoin blockchain), what do we do if, for some weird reason, we want to do business?
whatever you want. either you agree to accept the others' coin, or you recur to a third party exchange. Is "do whatever the fuck you want" bad?
It's not great. Certainly doesn't make for frictionless commerce.
Pretty much the opposite of what Bitcoin (and money in general) is about.
10.
Post 13208410 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.37h):
...
So if I download blockchain A (and the Bitcoin blockchain), and you download blockchain B (and the Bitcoin blockchain), what do we do if, for some weird reason, we want to do business?
Let's say I accept DASH but you only have LTC or DOGE. At that point there are several solutions:
1) I use an exchange account for deposits of coins that I do not regularly receive, so you do nothing but send your LTC or DOGE. I then convert those to DASH which I accept and withdraw them.
2) You first convert your LTC or DOGE to DASH which I accept, in some exchange, and send them to me.
3) We use a payment processor
In short, no different from you accepting only rubles, and me having only pesos. This sounds like the worst of both worlds, no?
Also, in all the options you have offered, how does Bitcoin factor in?
(in the future)
4) We use some kind of decentralized currency exchange and this process of alternating between blockchains becomes seamless, with minimal risk compared to current exchanges.
How would that work?
11.
Post 13208533 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.37h):
on the contrary: it's a free market of monies, kinda crypto-Forex.
IMHO if BTC will be kept clean of spam/crap/b/s/sabotage/treason it will remain the king/most accepted. Alternatively a competitor with those attributes will emerge. End of story.
So if I download blockchain A (and the Bitcoin blockchain), and you download blockchain B (and the Bitcoin blockchain), what do we do if, for some weird reason, we want to do business?
whatever you want. either you agree to accept the others' coin, or you recur to a third party exchange. Is "do whatever the fuck you want" bad?
It's not great. Certainly doesn't make for frictionless commerce.
Pretty much the opposite of what Bitcoin (and money in general) is about.
I think you're missing the context. That being AlexGR's claim that altcoins are a solution to Bitcoin's blockchain bloat. My point was that they're only making Bitcoin less relevant (people use alts, so they don't use Bitcoin as much).
I'm not against alts at all.
12.
Post 13208599 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.37h):
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So you're saying... don't use bitcoin then? Great! Scale bitcoin by not using it!
Really what it sounds like. Must be missing something.
...
So if I download blockchain A (and the Bitcoin blockchain), and you download blockchain B (and the Bitcoin blockchain), what do we do if, for some weird reason, we want to do business?
Let's say I accept DASH but you only have LTC or DOGE. At that point there are several solutions:
1) I use an exchange account for deposits of coins that I do not regularly receive, so you do nothing but send your LTC or DOGE. I then convert those to DASH which I accept and withdraw them.
2) You first convert your LTC or DOGE to DASH which I accept, in some exchange, and send them to me.
3) We use a payment processor
In short, no different from you accepting only rubles, and me having only pesos. This sounds like the worst of both worlds, no?
Also,
in all the options you have offered, how does Bitcoin factor in?...
13.
Post 13209018 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.37h):
In short, no different from you accepting only rubles, and me having only pesos. This sounds like the worst of both worlds, no?
Eh, no. Because the issue is pretty much solvable.
Not seeing the difference. I'll quote your 'solutions,' and show that they are identical to using different fiat currencies:
1) I use an exchange account for deposits of coins that I do not regularly receive, so you do nothing but send your LTC or DOGE. I then convert those to DASH which I accept and withdraw them.
We use Forex.
2) You first convert your LTC or DOGE to DASH which I accept, in some exchange, and send them to me.
I convert my pesos to rubles, send them to you.
3) We use a payment processor
We use a payment processor.
Where's the difference?
Also, in all the options you have offered, how does Bitcoin factor in?
First, most cryptocurrencies are based on the bitcoin protocol. So bitcoin is still in use, as a protocol, even if it isn't as a currency for a particular transaction.
If I use LTC, I still use the bitcoin protocol. The elements are pretty much the same.
I see. So if no one uses the BTC bloccahin, and everyone uses LTC, we're still all using Bitcoin, correct?
Second, in some of the options, like having an exchange account, you can either use BTC, or not.
You mean I could first trade my cryptopesos into BTC, pay fee, then convert that BTC into your cryptorubles, pay fee again, and give you the cryptorubles?
Why would I do that?
For example you can accept 100 different altcoins and have it set to be converted to BTC on arrival and then make 1 fat BTC withdrawal in the end of the day (if you are a merchant). So you might have gotten paid for 300 coffees with DOGE, these money go to the payment processor or exchange, and in the end of the day you get, say, 2 BTC.
But why involve Bitcoin at all? If [crypto]rubles is your chain of choice, why not have the exchange convert all the small transactions directly into cryptorubles, and, at the end of the day, withdraw it in a single transaction?
How would that work?
Code-wise it shouldn't be that difficult. It might be a lot of work but in essence it is a decentralized asset exchange, specifically for cryptocurrencies/altcoins, merging functionalities of different wallets in order to transact in multiple blockchains.
Who is running this "decentralized exchange'? What's the incentive? How many nodes? All the nodes will need to have copies of each and every blockchain, no? You think that is a trivial coding problem?!
Your 'decentralized exchange' sounds like an uber-complex cryptocurrency in itself. Why not simplify it significantly by having it issue its own tokens?
14.
Post 13209175 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.37h):
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This type of idiocy is often repeated but absolutely misguided.
The term CASH stems from the notion that Bitcoin, like cash, is a bearer instrument, not that it should be freely spent on trinklets at no cost.
Right on!
*Reducing* the blocksize is what really needs to be done. Make garbage transactions (all transactions below 1,000 BTC) impossible, due to cost. The 'I want more shit for free' brigade will pretty much *have* to hodl then.
Scarcity maximized => price skyrockets => everybody's happy
15.
Post 13209447 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.37h):
My "no" was not in terms of dissimilarity but in terms of "the worst of both worlds". You make it sound like it's a nightmare scenario when it is not.
Either shopping at a bazaar where all the dealers use different fiat money & you have to exchange money all the time is a nightmare, or it's not. It's certainly not as frictionless as everybody using the *same* kind of money, no?
Given a choice, which would *you* choose?
I see. So if no one uses the BTC bloccahin, and everyone uses LTC, we're still all using Bitcoin, correct?
Bitcoin as a network protocol, blockchain technology etc, yes. Bitcoin as the BTC currency, BTC blockchain etc, no.
Why would anyone hold bitcoins (the tokens), if no one uses the particular instance of blockchain (the Bitcoin blockchain)?
Wouldn't LTC be the gold standard (since everyone uses it)? I feel like I've reduced the problem to 2+2, you agree that it's 2+2, but insist that it's still not 4.
But why involve Bitcoin at all? If [crypto]rubles is your chain of choice, why not have the exchange convert all the small
transactions directly into cryptorubles, and, at the end of the day, withdraw it in a single transaction?
1) Convertibility to FIAT (BTC is the gateway to fiat)
The only reason exchanges don't let you convert shitcoins directly into fiat (please, not as a grammar nazi, but as a gearhead: FIAT=acronym, Italian car manufacturer; fiat=money as we know it) is because legit exchanges don't want to bother. If an exchange can legally handle fiat, it can legally turn shitcoins directly into fiat. Without the pointless extra step of first turning them into BTC.
2) Volatility reasons. Bitcoin is much more stable as a store of value than most altcoins which have very large fluctuations.
Fiat is the least volotile, just convert straight into fiat. Hey, make it easy on yourself, use fiat throughout & avoid all this rigamarole.
Who is running this "decentralized exchange'? Wat's the incentive? How many nodes? All the nodes will need to have copies of each and every blockchain, no? You think that is a trivial coding problem?!
Your 'decentralized exchange' sounds like an uber-complex cryptocurrency in itself.
Is NXT an uber-complex cryptoccurency for developing something to that effect?
http://multigateway.org/Not too familiar with NXT, but doesn't it have its own tokens, imaginatively called NXT?
>>>billyjoeallen: the whole lock analogy is inappropriate. The bloating thieves don't get anything of value by bloating the blockchain, shit inside house stays inside. What they do is essentially piss on your stoop, thus decreasing the attractiveness of your neighborhood and, potentially, dropping property values.
16.
Post 13209631 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.37h):
>>>billyjoeallen: the whole lock analogy is inappropriate. The bloating thieves don't get anything of value by bloating the blockchain, shit inside house stays inside. What they do is essentially piss on your stoop, thus decreasing the attractiveness of your neighborhood and, potentially, dropping property values.
Timestamps aren't valuable? microtransactions aren't valuable? equities and derivatives markets with low overhead and transparency aren't valuable? Low friction trade isn't valuable?
I suggest you look up "valuable" in the dictionary.
[img
http://www.skepticink.com/incredulous/files/2013/12/im.jpg[/img]
Have the thieves stolen any timestamps from you, by bloating the blockchain? How many microtransactions did they make off with?
How many equities and derivatives markets with low overhead and transparency?
If not obvious, no, no they did not. They may have made it difficult for others to use your bloated blockchain, but have made off with none of your goodies.
If I burn down your house, sure, you have to rebuild it/buy a new one, just as if I have stolen it. But I didn't steal it. See what I'm saying?
>>>brg444
I think he meant "makes small transactions impractical." Imagine if every fiat transaction cost you a dollar to make. Sure, you still have pennies and dimes and stuff, but your prices can't go down to a penny anymore, thus "less divisible for practical purposes."
17.
Post 13209764 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.37h):
>>>brg444
I think he meant "makes small transactions impractical." Imagine if every fiat transaction cost you a dollar to make. Sure, you still have pennies and dimes and stuff, but your prices can't go down to a penny anymore, thus "less divisible for practical purposes."
Except with Bitcoin there are alternatives. If you wanna send pennies around why not use Changetip? Do you really need 700,000,000 GH/s of security for your latte purchase?
Hell no I don't need 700,000,000 GH/s of 'security' for my latte purchase. That's like having a billion dollar lock on my front door and a screen door out back - *getting the hashrate up that high does nothing for security, especially since 95% of it is in the hands of 9 people.*
Bonus: those 9 people are friends.
Get it?
And who sells latte for Changetip? Inquiring minds want to know!
...
People who buy blockspace can do whatever the hell they want with it. It's theirs.
Who dat? Who be buyin' blockspace?
18.
Post 13214938 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.37h):
Why in the world would you sell your bitcoins during a bull run?
Because you've ended up with over 90% of your net worth as bitcoin and you ought to diversify?
Stick your money into property (real estate) & bitcoin. Why the hell would anybody leave significant savings in fiat banks. The interest rates are criminal.
The only people who keep all their wealth in the bank are the same people who, alternatively, keep all their money in their pocket -- the poor people.
Money wasn't made to be hoarded, it's meant to be used.
19.
Post 13215829 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.37h):
I have an immensely important question I want to ask since I was just told something, why does the price move the way it does?it goes up by 10-20$s then completely stops. And how much does it take to make it to 10$s plus?
Because that's how natural, organic growth works. Natural, organic growth is pretty much defined by explosive price/volume spikes apropos of nothing, with microsecond coordination across all major exchanges. Think shitty, ringy square wave on a scope with a bad ground lead. Anything else is price manipulation.
20.
Post 14733189 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.49h):
How low do you guys think we will go?
Buying opportunity?
Why even ask?
21.
Post 14751831 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
In other news ...
We can now join the 21inc revolution without buying their $400 Pitato!
21 Inc Unveils Plan to Make Every Computer a Bitcoin ComputerJacob Donnelly | Published on May 3, 2016 at 23:41 BST
News
Balaji Srinivasan, co-founder and CEO of 21 Inc, announced the launch of the 21 software package at the Consensus 2016 blockchain conference, allowing anyone with a computer to receive bitcoin.
Freely available, the software allows any connected device to join the 21 network, enabling connectivity with the 21 Marketplace and providing capabilities that were previously only available to owners of the 21 Bitcoin Computer.
Srinivasan told the audience:
"What we think is that there is going to be a third Web, the Machine Web, where the links are actually payments between machines."
Third World [Wide] Web.
Exciting!
22.
Post 14752146 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
now that i dont have to pay 500$ for a 21 machine, its worth looking into.
i believe they make micropayments cheap like dirt somehow.
there software package probably makes handling bitcoin wallets in code simpler, included wallet.h and start making calls like GetNewAddres, SendBTC(int ubtc)
definitely worth a look.
I'm looking, but finding very little info. This is how far I got:
Clicked on "Learn Moar," got this:
The only thing which would make this more attractive to me would be something like "please enter your CC and SS# to proceed."
23.
Post 14752237 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
now that i dont have to pay 500$ for a 21 machine, its worth looking into.
i believe they make micropayments cheap like dirt somehow.
there software package probably makes handling bitcoin wallets in code simpler, included wallet.h and start making calls like GetNewAddres, SendBTC(int ubtc)
definitely worth a look.
I'm looking, but finding very little info. This is how far I got:
Clicked on "Learn Moar," got this:
The only thing which would make this more attractive to me would be something like "please enter your CC and SS# to proceed."
How do they profit themselves? Is it sustainable for them?
By [possibly] not going to jail (for making millions in VC $ vanish)?
idk, if i understand correctly, their software hooks you into their network, sort of like hooking into Google Ads to sell ads on your blog.
24.
Post 14752320 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
That's the wading pool, 21inc are on (off?) the deep end -- Total Equity Funding: $121.05M in 2 Rounds from 10 Investors
25.
Post 14752550 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
^No, not a penny of that $121.05M was invested in bitcoin. The $121.05M was invested in (this is difficult to verify, so just an educated guess) hookers & blow.
26.
Post 14752796 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
So they didn't even buy bitcoins with that money. Just used bitcoin sticker to get the money.
No, didn't buy bitcoins bcz no bus that short has yet been invented.
If retards managed to turn just 10% of that $121.05M into actual folding money, without running afoul of arbitrary bullshit laws created by government shills to shackle the invisible hand and add needless friction to the otherwise frictionless free market price discovery, that's 12 frikin' million dollars worth of freedom.
$12M US is much, but retards likely made much more. Much we can learn from retards.
27.
Post 14760790 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
As we flatline for a little while and the blocksize "debate" has abated I guess we are lucky to have something else to talk about
At least a technically clueless person like me might actually learn something.
In other news: I know of a bridge for sale that is a good deal as it has stood the test of time
If it's a one-way, one-lane bridge, I'm all in!
28.
Post 14761139 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
It's a brand new domain which could belong to anyone?
29.
Post 14761321 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
It's a brand new domain which could belong to anyone?
He made his announcement from that site.
You sure it was *HE* who made the announcement from that site? Bitcoin is a world of intrigue and subterfuge...
http://drcraigwright.com/ 
30.
Post 14762576 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
Shameful, Gentlemen. This will surely come back to haunt us.
31.
Post 14762755 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
I panic dumped right at the bottom, then had to buy back after it became clear it was all bull. I'd never have panic dumped if it wasn't for all the Satoshi lies.
By "panic dumped," you mean sold for (at most) $12 lower than current spot? Well, you know what they say about weak hands...
32.
Post 14770183 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
Is it one of those who moves 1st moments?
It's one of those "everyone got bored and went home" moments.
33.
Post 14770708 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
buy Buy BUY!!!!!!!!
452! Bitcooin, you bangin'!
34.
Post 14770947 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
35.
Post 14783380 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
The volume, gentlemen! It is increasingly
unvolumous not volumenous involuminous berry berry bad.
*Horrible thought: Strawberry Shortcake "berry talk," was the entire thing just mangling "very" into "berry"? Did she try it on any other words, like "berryly legal"? Because if just very->berry? lame! Now you take smurfirization...
36.
Post 14784342 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
^^Buttberry
37.
Post 14784456 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
^^
Dingleberry!.
38.
Post 14784584 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
Dunno, how 'bout joo?
39.
Post 14788809 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
Old man lyin' by the side of the road
Where the lorries rollin' by
Blue moon sinkin' from the weight of the load
And the buildings scrape the sky
Cold wind rippin' on the valley at dawn
And the morning paper flies
Dead man lyin' by the side of the road
With the daylight in his eyes
Don't let it bring you down
It's only castle's burning
Find someone who's turning
And you will come around
Will 450 hodl?
40.
Post 14789628 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
Old man lyin' by the side of the road
Where the lorries rollin' by
Blue moon sinkin' from the weight of the load
And the buildings scrape the sky
Cold wind rippin' on the valley at dawn
And the morning paper flies
Dead man lyin' by the side of the road
With the daylight in his eyes
Don't let it bring you down
It's only castle's burning
Find someone who's turning
And you will come around
Will 450 hodl?
The partial lyrics you give are slightly off but anyway, thank you. Who cares about 450.
https://www.youtube.com/watch?v=F7letrMf_nEGah! Serves me right for ctrl-c/ctrl-v, I usually proof. Thanks, Google
P.S. WTF is Annie Lennox?!
41.
Post 14789679 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
Will 450 hodl?
Yes.
http://thehalvening.com/
Because we have already build the rocket ... and the launcher, too.
Need fuel, now.
To infinity, and beyond!
42.
Post 14789956 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
43.
Post 14791395 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
here we go about to pop over 460 again.
market is bullish as fuck, and with good reason
we must be bold, target 3200$! not because it is easy but because it is hard.
44.
Post 14792486 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
45.
Post 14797561 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
461!
This is the big one!
I'm coming to join you, Elizabeth!
46.
Post 14801262 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
From Peter Todd's chinese AMA,
https://www.bikeji.com/t/3831
So no segwit until HF code is released (Blockstream considers "released" a pull req, apparently). Wake me up in 14 months grentlement.
47.
Post 14806696 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
It's gonna be ok...
48.
Post 14807025 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
Oh no DOOOM!!
Did you hear about that segwit thing that was promised this month is getting put off until 2017, is that why the price is tanking?
49.
Post 14807104 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
What do moths have to do with it?
Ah, if I was a lesser man, I'd point out that you got nothing &, powering through hot tears of rage, defeat and devastation, are now making lame typo jokes.
But I won't. Because that sort of thing is beneath me. I don't kick people right after they got run over by a bus.
50.
Post 14807572 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
us army?
That's who I work with.
>Libertarian
>working for jackbooted thugs. Literally.
How do you sleep at night?
51.
Post 14807725 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
us army?
That's who I work with.
>Libertarian
>working for jackbooted thugs. Literally.
How do you sleep at night?
On piles of government money.
Not really (I convert it all to bitcoins), I encourage everyone to take as much money out of the hands of the state as possible.
I'm still waiting for the American voter to get smart and make my job go away. I have little confidence that that will ever happen.
Lol, I guess Waffen-SS weren't really mercenary traitors but partisans, their plot was to impoverish Hitler by taking "as much money out of the hands of the state as possible."
52.
Post 14807908 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
us army?
That's who I work with.
>Libertarian
>working for jackbooted thugs. Literally.
How do you sleep at night?
On piles of government money.
Not really (I convert it all to bitcoins), I encourage everyone to take as much money out of the hands of the state as possible.
I'm still waiting for the American voter to get smart and make my job go away. I have little confidence that that will ever happen.
Lol, I guess Waffen-SS weren't really mercenary traitors but partizans, their plot was to impoverish Hitler by taking "as much money out of the hands of the state as possible."
I love knowing that the idea of more money going to the government means that this libertarian gets more money makes liberals(communists) and neocons heads explode.
There is no chance my job will go away with the people you keep electing. And I will be able to buy more bitcoins and spend it on libertarian projects.
So slaving for the jackbooted thugs is a Libertarian thing? I guess the entire US military-industrial complex is 100% Libertarian, all doing exactly what you're doing -- impoverishing Uncle Sam by doing his bidding & getting paid in his scrip toilet paper.
How's it going thus far, US military machine bankrupt yet?
We've always been at war with Eastasia
53.
Post 14807992 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
So slaving for the jackbooted thugs is a Libertarian thing? I guess the entire US military-industrial complex is 100% Libertarian, all doing exactly what you're doing -- impoverishing Uncle Sam by getting paid in his scrip toilet paper.
How's it going thus far, US military machine bankrupt yet?
Keep voting for the status quo and the military machine will keep on as it always has. I've met plenty of libertarians in my line of work.
You may also enjoy the fact that by living overseas I pay no income taxes.
At least I'm not funding ISIS with my tax dollars.
Lol, YOU are the military machine, Elwar. Just like SS troopers were a part of Wehrmacht.
Surprise!
54.
Post 14808076 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
So slaving for the jackbooted thugs is a Libertarian thing? I guess the entire US military-industrial complex is 100% Libertarian, all doing exactly what you're doing -- impoverishing Uncle Sam by getting paid in his scrip toilet paper.
How's it going thus far, US military machine bankrupt yet?
Keep voting for the status quo and the military machine will keep on as it always has. I've met plenty of libertarians in my line of work.
You may also enjoy the fact that by living overseas I pay no income taxes.
At least I'm not funding ISIS with my tax dollars.
Lol, YOU are the military machine, Elwar. Just like SS troopers were a part of Wehrmacht.
Surprise!
It's a big machine. Over $600 billion wasted every year on making the American public feel "safe". And the American voter just loves giving me money so they can feel safe.
Yeah, it's a big machine, and you're an important part of it. Thanks for donning jackboots & making it a little bigger, you rebel you
P.S. Are you the dentist in this picture, or just the guy shining his jackboots?
55.
Post 14808229 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
So slaving for the jackbooted thugs is a Libertarian thing? I guess the entire US military-industrial complex is 100% Libertarian, all doing exactly what you're doing -- impoverishing Uncle Sam by getting paid in his scrip toilet paper.
How's it going thus far, US military machine bankrupt yet?
Keep voting for the status quo and the military machine will keep on as it always has. I've met plenty of libertarians in my line of work.
You may also enjoy the fact that by living overseas I pay no income taxes.
At least I'm not funding ISIS with my tax dollars.
Lol, YOU are the military machine, Elwar. Just like SS troopers were a part of Wehrmacht.
Surprise!
It's a big machine. Over $600 billion wasted every year on making the American public feel "safe". And the American voter just loves giving me money so they can feel safe.
Yeah, it's a big machine, and you're a part of it. Thanks for donning jackboots & making it a little bigger, you rebel you
In absolutely zero ways do I make it bigger. That's $600 billion that the government spends each year. I could be taking a slice or anyone else could be taking that slice. Whether it is any bigger or smaller is completely decided by Congress, which is put in place by the voters. I never vote for anyone that will give more money toward the machine.
You are more complicit than I am in making it bigger. By voting for those idiots and by funding them.
You know, they used similar arguments at the Nuremberg Trials. "The Wehrmacht is so big, I was just a tiny part of it. If I didn't gas and BBQ joos and homos, someone else would have taken my place. I didn't even vote for Hitler! He just paid my salary, and I did his bidding, all the time hoping that he'd go broke."
56.
Post 14808470 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
You know, they used similar arguments at the Nuremberg Trials. "The Wehrmacht is so big, I was just a tiny part of it. If I didn't gas and BBQ joos and homos, someone else would have taken my place. I didn't even vote for Hitler! He just paid my salary, and I did his bidding, all the time hoping that he'd go broke."
Shitty example. The only way to win any war is genocide. That's why Caesar holocosted the Gauls. What good does getting rid of 1% or less of a population do? Then you just have to fight them again over and over every year. Unless one side is either completely eradicated or takes big enough losses where they would never think about even attempting to fight again, there is no reason to go to war in the first place.
Did I say that total warfare is not the best way to wage war? No. Merely told Elwar that he's a mercenary jackbooted thug. And that he should probably stop lying to himself by pretending that he ain't.
Simple
...
In absolutely zero ways do I make it bigger. That's $600 billion that the government spends each year. I could be taking a slice or anyone else could be taking that slice. Whether it is any bigger or smaller is completely decided by Congress, which is put in place by the voters. I never vote for anyone that will give more money toward the machine.
You are more complicit than I am in making it bigger. By voting for those idiots and by funding them.
You know, they used similar arguments at the Nuremberg Trials. "The Wehrmacht is so big, I was just a tiny part of it. If I didn't gas and BBQ joos and homos, someone else would have taken my place. I didn't even vote for Hitler! He just paid my salary, and I did his bidding, all the time hoping that he'd go broke."
Says the person who would have voted for Hitler and sent him money for his war.
I have no idea if I would have or not. I can tell you one thing with certainty tho: If I worked for him, on the front lines or as a clerk, I wouldn't lie to myself about what I was doing.
Not like you
57.
Post 14809049 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
Every paycheck is converted 100% to bitcoins. All of my money is in bitcoins. Putting my house on the market next month...I am trying to figure out how to get my money out of dollars after the sale as fast as possible.
how do you buy gas and food??
you live with perpaid gift cards and such?
that must be a hell of a hassle...
I get paid in dollars which I convert to bitcoins. I live in Europe (where the dollar is useless) so I sell bitcoins for euros (at a profit) which I use for gas and food. If I lived in the US I'd spend my bitcoins at Whole Foods and get my gas at Shell stations.
Everything else I can buy online (usually cheaper than the local economy) with bitcoins.
For my rent I use bitwa.la which lets me send a SEPA transfer to my landlord.
Yup. Hella easier than my D/CC.
@r0ach: you know what's even harder to use as money than gold and BTC?
BTCeanies!
...well, not really. Disregard.
58.
Post 14810556 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
any min now we'll be back above 460
Sergei sez:
Choo Choo, Mother Fucker
59.
Post 14812421 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
By the way bother, you shocked me when I saw you believeing in $25K - $250K within 5-10 years as I don't know if you re-call or not when we were talking on PM, you had nearlly 0.x% chance that we will reach those values within the given timeframe.
Don't get me wrong, you are a buddy and brother of mine, I just see and understand you are a bull and not a permabull like the minority rest of us.
I would like to know what caused to elevate your bullishness to that level, I'm extremely happy btw to see you crazy like us
I understand what you are saying when you assert that it appears that I may have become more bullish in the past several months; however, really, in spite of the apparent inconsistencies, I don't believe that I have become more bullish than previously without some kind of actual reason based on actual market performance (at least, not in any significant or apparently contradictory way).
More or less, I think about it like this. There is almost no way that the performance of bitcoin is completely mathematical (sure there is quite a bit of math involved in terms of network effects and reliability of the infrastructure etc) because it largely involves the behaviors (actions and reactions) of human beings. So even though some things in bitcoin can be determined by math, we cannot really know how the behavior of human beings is going to play out and affect bitcoin in both positive and negative ways.
Look, we PM'd each other in September 2015, a week or two before bitcoin prices took off into a 2x bull run, in which none of us could have really anticipated, and also after nearly 2 years of downward price manipulation. Those factors, and the place that we are at the moment, affect viewpoint - short term and long term and the various measures that may need to be taken in order to protect one's position (and investment).
There have been a lot of decent developments since September 2015, and also some real significant tests of the downside of bitcoin's price under those recent scenarios.
Actually, when I PM'd you in September 2015, I gave you very specific probability ranges for various prices in the 5 year projection and the 10 year projection, and in my most recent post, I asserted "decent and reasonable possibilities of $25k to $250k". Anyhow, I believe the outline of my September 2015 predictions and viewpoints can serve as a very decent thought experiment, and yeah, surely I would not mind filling those in again with actual guestimates of my feelings and viewpoint as of today. If you want a follow-up post, then I will do it.. I think that it is a very good topic for this thread and for others to chime in if they want.
Thank at first my friend for getting my point the correct way and understood that I care for our friendship
Second, I would like to see a follow-up post please comparing your Sept. 2015 predictions and possibilities with the $25K-$250K and the reasons you believe in for the $25K-$250K ones as well.
I know this will take time and effort from you, thanks in advance and really so much appreciated, but as I always said, I always learn from you guys, especially from my dear friends, like you
Thank you for this discussion point.
I believe it is a good thought exercise to consider our own views of the future and price possibilities (in our own thinking), and surely such an exercise can be specific and at the same time demonstrate how our subjective feelings can materialize into somewhat evolving views of probabilities.
Here’s the substance of what I predicted to you via PM in late September 2015.
Probably, the below is a decent snapshot of my opinion... [regarding] 10 years and $100K
5 years:
less than $200 < 5 % chance
$200 to $300 about 5-10% chance
$300 to $500 30-40% chance
$500 to $1000 30-40% chance
$1000 to $5000 12-18% chance
$5000+ about 5% chance
10 years:
less than $200 < 2 % chance
$200 to $300 about 2-5% chance
$300 to $500 10-20% chance
$500 to $1000 20-25% chance
$1000 to $5000 15-20% chance
$5000 to $20,000 < 5% chance
$20,000 to $50,000 < 3% chance
$50,000 to $100,000 < 2% chance
Here’s my current speculation, and I feel that my numbers have not changed too much. Of course, I am no expert, and I am kind of guessing off the seat of my pants and based on the totality of my current information and impression of circumstances regarding how the space has been developing:
5 years:
less than $200 < 2 % chance
$200 to $300 about 2-5% chance
$300 to $500 5-25% chance
$500 to $1000 25-40% chance
$1000 to $5000 8-30% chance
$5000+ about 8% chance
10 years:
less than $200 < 1.5 % chance
$200 to $300 about 1.5-3.5% chance
$300 to $500 3.5-15% chance
$500 to $1000 15-22% chance
$1000 to $5000 20-40% chance
$5000 to $20,000 5-15% chance
$20,000 to $50,000 3-10% chance
$50,000 to $100,000 < 3% chance
I would be interested to see how others plug in these kinds of predictions.
Jammin'.
60.
Post 14817729 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
"I'm just ensuring that Gavin's destruction is utter and final. It's strictly business.
We want to see this symbol to die a violent death." --Amir Taaki
https://np.reddit.com/r/btc/comments/4irgw9/two_posts_by_amir_taaki_on_the_unsystem_mailing/
61.
Post 14818761 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
Honestly Amir looks to be at the brink of going full ISIS anytime soon.
By him calling ISIS a cancer?
Must agree, looks mighty badass with that 3D-printed reciever and mag. What's that rifle hanging behind his back, he gona go Rambo on statist jackboots? Hey, is that a 3D-printed handgun sticking out of his hoodie pocket?
To be that cool
What will weak bankster stooges, better known as gubermint jooz, ever do?
62.
Post 14818923 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
Context matters, and Amir's language is making it easy for others to re-contextualize his statements.
Yeah, they did that Hitler too. Turns out all the slanderous lying rhetoric was based on a simple misunderstanding, "Jews" and "juice" being homophones.
63.
Post 14827162 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
Growth with bitpay payments = growth in BTC->USD conversion.
This. But it does show more people actually spending bitcoins.
Yup. On USD.
BTW, no answered me when I asked about something like this happening on OB:
Because no good answer, apparently
64.
Post 14827280 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
Growth with bitpay payments = growth in BTC->USD conversion.
This. But it does show more people actually spending bitcoins.
Yup. On USD.
BTW, no answered me when I asked about something like this happening on OB:
Because no good answer, apparently
What was the rating on the moderator?
"Rating on the moderator"? Those are rated too? By whom, himself and 20 other accounts he created?
I dunno, check here:
https://www.reddit.com/r/OpenBazaar/comments/4iqb97/both_vendor_and_moderator_are_unresponsive_what/
65.
Post 14827602 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
Growth in Jewish banking = growth in nationalism in the US, France, and other parts of Europe to get rid of them until they get put in front of firing squads for financial terrorism:
You forgot western imperialism, illuminati and the reptilian aliens... their lifeforce is also drained from your bitcoins getting cheaper. Tough luck.
Yes, the standard Zionist tactic. When people mention the #1 financial terrorists on earth like Soros and Bernanke are all Jewish, bring up some nonsense about "reptiles". Sorry, that doesn't work. Nationalism is on the rise in the US and all of Europe. They will all be in front of firing squads soon. You can't propagandize your way out of it with the media.
66.
Post 14827954 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
67.
Post 14828054 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
Why is ETH moving up so damn much?
Like all alt premines , when almost all of the tokens are controlled by the original investors < ... >
Speaking of original investors, you suppose we'll have to hardfork bitcoin to take away satoshi's booty, or maybe we can just sneak it into a softfork/core 0.12.2?
@podyx: Not sure, you'll have to talk to cockroach, it's his brainchild.
68.
Post 14828254 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
Why is ETH moving up so damn much?
Probably because they have to raise it in order to drop the hammer and exit. What kind of complete idiot would be holding Eth this close to BTC halving?
69.
Post 14828584 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
No, the early coins (not just Satoshis - all of the coins) use an obsolete scheme that hasn't been used in years. Essentially they don't have addresses, like now, but naked/exposed public keys.
Quantum computers can reverse a public key as long as they know it. Our modern addresses use hashes so you first have to reverse the hash, find the pubkey and then break the pubkey/privkey to access the funds. This is way more quantum-proof, as long as you don't reuse addresses (and thus expose your pubkey for long periods of time).
In the old days, we used to expose our private keys to everyone, often to underage minors (miners?).
Now we keep our public keys private. I like that.
70.
Post 14830535 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
...
The writer of that quote understood that notion. He understood that a fundamentally different process must occur than the one we use today to make the next evolutionary leap in processing.
I would argue that since the 'core' of the machine ...
https://youtu.be/X0WnddW5gZI
71.
Post 14832788 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
browsing rocket gifs on google..
Would this do?
(it might need a little TLC, maybe a new set of plugs and an oil change, but it's in pretty good shape)
72.
Post 14838975 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
Dig the massive buy wall on bfx
Down we go.
73.
Post 14839706 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
Oh, is Lambchop back shilling for the bankers again? Ovey, invest in mortgage backed securities!
Unpleasant insectoid goy:
Don't envy us, we're totally poor and stupid, just like you
IsraelitesAh get up in the morning, slaving for bread, Sir
So that every mouth can be fed
Poor me, Israelite
Get up in the morning, slaving for bread, Sir
So that every mouth can be fed
Poor me, the Israelite
My wife and my kids, they pack up and a'leave me
Darling she said, "I was yours to be seen"
Poor me, the Israelite
Shirts them's a'tear up, trousers are gone
I don't want to end up like Bonnie and Clyde
Poor me, the Israelite
After a storm there must be a calm
You catch me in your farm
You sound your alarm
Poor a poor a poor me, the Israelite
Ah said I get up in the morning, slaving for bread, Sir
So that every mouth can be fed
Poor me, Israelite
I said my wife and my kids, they are packed up and leave me
Darling, she said, I was yours to be seen
Poor me, Israelite
Look at me shirts them's a tear up
I don't wanna end up like Bonnie and Clyde
A poor a poor me, Israelite
After a storm there must be a calm
You catch me in the farm
You sound your alarm
Poor me, Israelite
A poor a poor a poor me, Israelite
A poor, a poor, a poor, a-poor me Israelites
I'm'a wondering a'working so hard
A poor, a poor. me Israelite
I look a'down and out, Sir
A poor...
74.
Post 14841074 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
Unpleasant insectoid goy:
I see you are rubbing your little rat claws together, dreaming of the clanging of shekels from halving profits.
It is said that Beelzebub is preceded by swarms of flies. I'm followed by a roach. A single frickin' cockroach. One.
Fuck my life.
75.
Post 14857402 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
~sniff sniff~ Anyone else smell gas?
76.
Post 14857505 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
gas ?
Youngsters...
77.
Post 14858009 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
"We have previously communicated the fact that most clients’ crypto-asset funds are stored in multi-signature cold wallets. However, the malicious external party involved in this breach, managed to alter our system so that ETH and BTC deposit transfers by-passed the multi-sig cold storage and went directly to the hot wallet during the breach period. This means that losses of ETH funds exceed the 5% limit that we imposed on our hot wallets.
Loss of Funds
In total, the hot wallet breach resulted in the loss of ETH 185,000 and BTC 250, which is equivalent to USD 2 million. This represents 15% of total crypto-asset deposits held by Gatecoin." --
https://gatecoin.com/
78.
Post 14858366 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
^^ I especially love "However, the malicious external party involved in this breach,
managed to alter our system so that ETH and BTC deposit transfers by-passed the multi-sig cold storage and went directly to the hot wallet"
Sounds legit
79.
Post 14865871 (copy this link) (by Ultrafinery) (scraped on 2020-04-04_Sat_14.50h):
The thrill is gone, baby
The thrill is gone away...
