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submitted by /u/Marcus_Aguiar [link] [comments] |
Saturday, 11 June 2022
If there is one thing the bitcoincash community is most concerned about, it is getting it to as many people as possible because utility is its most important value. In this article is a powerful means to build utility and promote bitcoincash
Is it only a "matter of time" before a billionaire's son/daughter is kidnapped and the ransom is to be paid in crypto? I'm sure other people have thought of this -- are there any "solutions" to this ethical dilemma? 🤔
If you remember Columbine, it created the allure of school shootings where none had prior existed. I'm sure if it happened 10 years earlier, that those following 10 years would have had a dozen or more following in its wake. I feel like the same thing could happen if you kidnap a billionaire's son or daughter -- that the first incident will usher in a new wave of it becoming a common occurrence.
Part of me feels like if the first highly-publicized crypto-ransom is "unsuccessful" (i.e. the billionaire refuses to negotiate with kidnappers) then it will have a chilling effect and somehow discourage future similar incidents. The era of "ransomware" is annoying but at least nobody dies. It's an acceptable tradeoff since the net utility of crypto outweighs the harm of cyber-criminals so long as they stick to "white collar" crimes only.
What about crypto-terrorism? Let's say you're a shady millionaire who has the financial resources to arrange the importation of 2 "dirty bombs" and you detonate one in nowhere-ville Montana and kill 300 people to prove your willingness to detonate the 2nd bomb in a populated area like NYC or LA?
A millionaire could easily 50x his net worth from $20M to $1B and to be honest, I'd even consider it if I were in that financial position. (i.e. your "party boat" goes from 35 feet to 200 feet plus unlimited cocaine and half-dressed instagram models at your disposal on epic yacht parties)
TL;DR: Is it only a "matter of time" before a billionaire's son/daughter is kidnapped and the ransom is to be paid in crypto? I'm sure other people have thought of this -- are there any "solutions" to this ethical dilemma? 🤔
[link] [comments]
source https://www.reddit.com/r/btc/comments/v9fffi/is_it_only_a_matter_of_time_before_a_billionaires/
Former Police Experts Tried to Escape With Millions of Seized Bitcoins
Pankaj Ghode and Ravindranath Patil, the alleged cyber-crime specialists, collaborated on two incidents of multimillion-dollar bitcoin Ponzi schemes in 2018.
The two specialists supported the Pune Special Investigation Team (SIT). The Pune police cyber cell has verified that about 1,300 bitcoins have gone stolen from the wallets of cyber specialists Ghode and Patil. It represents an improvement in crypto related transactions. Projects like Concordium have introduced ID recognition before crypto transactions but it remains largely un-adopted.
The offenders were apprehended by cyber police during an investigation that began in April 2021. On allegations of stealing bitcoins for financial benefit while supporting the police throughout the inquiry, the forces took several mobile phones, MacBooks, hard drives, tabs, computers, CDs, and other materials from their possession.
On Monday, the Pune Police Cyber Crime Cell issued a 4,400-page charge sheet against two cyber specialists. Patil admitted to taking 237 bitcoins, according to Deputy Commissioner of Police Bhagyashree Navtake. Ghode is accountable for about 900 bitcoins that have gone missing. Over $770,000 in 34 different cryptocurrencies was reportedly confiscated by authorities as they probed an alleged 900 bitcoin difference.
Patil and Ghode are now being held in judicial custody at Pune's Yerawada Central Jail. According to officials, Patil was an IPS officer for a few years before departing. He has been working as a cybercrime specialist since then. He supported different police departments and investigation organizations, as well as training officers on crypto-crime.
Ghode has worked as a cyber security expert and operated multiple firms, including some based abroad. The accused officers are believed to manipulate the screenshots of bitcoin recovery and submit them as proof to the police as part of their investigation report.
[link] [comments]
Is it only a "matter of time" before a billionaire's son/daughter is kidnapped and the ransom is to be paid in crypto? I'm sure other people have thought of this -- are there any "solutions" to this ethical dilemma? 🤔
If you remember Columbine, it created the allure of school shootings where none had prior existed. I'm sure if it happened 10 years earlier, that those following 10 years would have had a dozen or more following in its wake. I feel like the same thing could happen if you kidnap a billionaire's son or daughter -- that the first incident will usher in a new wave of it becoming a common occurrence.
Part of me feels like if the first highly-publicized crypto-ransom is "unsuccessful" (i.e. the billionaire refuses to negotiate with kidnappers) then it will have a chilling effect and somehow discourage future similar incidents. The era of "ransomware" is annoying but at least nobody dies. It's an acceptable tradeoff since the net utility of crypto outweighs the harm of cyber-criminals so long as they stick to "white collar" crimes only.
What about crypto-terrorism? Let's say you're a shady millionaire who has the financial resources to arrange the importation of 2 "dirty bombs" and you detonate one in nowhere-ville Montana and kill 300 people to prove your willingness to detonate the 2nd bomb in a populated area like NYC or LA?
A millionaire could easily 50x his net worth from $20M to $1B and to be honest, I'd even consider it if I were in that financial position. (i.e. your "party boat" goes from 35 feet to 200 feet plus unlimited cocaine and half-dressed instagram models at your disposal on epic yacht parties)
TL;DR: Is it only a "matter of time" before a billionaire's son/daughter is kidnapped and the ransom is to be paid in crypto? I'm sure other people have thought of this -- are there any "solutions" to this ethical dilemma? 🤔
[link] [comments]
source https://www.reddit.com/r/btc/comments/v9e9im/is_it_only_a_matter_of_time_before_a_billionaires/
Friday, 10 June 2022
PayPal to Allow Users to Transfer Crypto Externally as It Expands Its Crypto Offering
One of the world’s leading payment powerhouses, PayPal, recently announced that it would allow users to transfer crypto from their PayPal accounts to external wallets or exchanges. The company’s new offering, Crypto Push, is a response to increasing customer demand for cryptocurrency transfers.
In a press release, Jose Fernandez da Ponte, the SVP and general manager of blockchain, crypto, and digital currencies at PayPal, said,
“We are thrilled to announce that starting today, PayPal supports the native transfer of cryptocurrencies between PayPal and other wallets and exchanges. Users have consistently ranked this feature as ...
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Bitcoin Balances on exchanges is dropping more over time
https://www.coinglass.com/Balance
i love seeing the move to take it off exchanges
[link] [comments]
The game is always the same: wait for winterbottom, don’t panic and buy more before cryptosummer comes.
i’m in this Bitcoin game since 2017 and made bad mistakes on this run like many others. Read many posts about strategies but the only one that helped me really were the advice to hold, no matter what. Today the adoption is much more advanced and so the actual lowest price is much higher since then. Holding worked out in this years. Forget the noise between. Now in this winter the big players watch calm for the cheapest price available and rebuy back in big and fast if they have the feeling the very bottom is in and then soon the fomo will ride it up again to new higher highs. Adoption will continue to grow with new generations. You only will survive this game with discipline and focus on getting more BTC. If you manage to get 1 BTC you are one of max 21 Millions in the world! No one will ever change this maximum. If you sell (in panic) you lose on the long run. If you try to time the market you will lose too. Holding is sometimes painful but easy to handle. only a few ppl have the luck to buy at the right time. Don’t watch the short run. It should be your only way and it will reward you in the future. No financial advice but my very true feeling.
[link] [comments]
Thursday, 9 June 2022
Stepn, A ‘Move-To-Earn’ Application Suffers Cyber Attack After Upgrade
Stepn, a “move-to-earn” application hosted on the Solana blockchain, suffered multiple distributed denial of service (DDOS) attacks after the cryptocurrency outfit updated its system. Stepn, known for giving users cryptocurrency rewards for walking or jogging, recommended that its users “get some rest” while it worked to secure its servers and recover from the various attacks.
The outage now experienced by Stepn holders follows an “anti-cheating” upgrade made on the network on June 3. This upgrade aimed to eliminate bots from the platform and prevent rewards from being obtained through the use of fraudulent motion data. Before ...
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Bitcoin Cash is a cryptocurrency despised by many.
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Every time I get some satoshis in my wallet, I think it is incredible, but unfortunately, not everyone can do that. Many users worldwide are forced to use third parties to receive or send funds. Bitcoin was supposed to defeat the central banks. Instead, it is becoming one itself. And they are copying even the same tactic that central banks and governments have used to mislead the population. Do you think Litecoin holders would want to hear of a Bitcoin that is not Core, which is being recognized as the real Bitcoin and puts Litecoin on the list of redundant coins? Do you think Ethereum holders would like to hear that a real Bitcoin works and can do everything ETH does and is much cheaper without waiting years for the supposed Ethereum 2.0m years to wait? Bitcoin Cash is not supported by many because it makes their projects redundant or, I would say, repetitive and useless. Read the full article if you wish by following my Twitter link. It is a ReadCash article. https://twitter.com/francis105d1/status/1534627097729241088 [link] [comments] |
source https://www.reddit.com/r/btc/comments/v7yogx/bitcoin_cash_is_a_cryptocurrency_despised_by_many/
Is there a DEX where you can swap between BCH, BSV, and XEC?
I think if users could easily swap these tokens for each other, two of them would quickly go to zero. I would happily contribute to a flipstarter to fund this.
Shouldn’t it be relatively simple, since they’re all forks of each other?
[link] [comments]
source https://www.reddit.com/r/btc/comments/v7vxeb/is_there_a_dex_where_you_can_swap_between_bch_bsv/
Wednesday, 8 June 2022
16TB SSD for under $30 on eBay, can store over 9 years of 32MB blocks, which may be its lifespan. I've ordered it, as well as a USB 3.1 adapter for $9 (5Gbps PCI-E, for PC mobo). (NB: I won't know if it's good until I get it...)
Tuesday, 7 June 2022
New York AG Warns About Crypto Investments as Mining Moratorium May Come to New York
Letitia James, the New York Attorney General, has made several statements towards cryptocurrency investment on Friday, June 3. The AG released a statement commenting on the volatility of crypto assets and warned investors of the high-risk nature of investing in crypto, as seen in the crash of the UST stablecoin in May. James also highlighted that billions have been lost in crypto in 2022.
New York is also focusing on banning proof-of-work crypto mining. The ban of cryptocurrency mining in one of the largest states in the United States could see many currencies crash even further. ...
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Venture Capitalist Tim Draper Explains Why Bitcoin Will Soar Past His $250K Estimate. Could Bitcoin Actually be Worth Half a Million In Coming Years?
Tim Draper, a venture capitalist, has reiterated his $250K bitcoin price prediction. Draper was asked if he still believes the price of bitcoin will hit $250K this year in a recent interview with Scott Melker, dubbed the Wolf of Wall Street. He responded, "
Yes, by the end of this year or the beginning of next.
Draper went on to explain why he thinks BTC would outperform his projection. "One thing that will almost certainly happen — and I don't know when — is that women will begin to use bitcoin," he said.
Previously, only one out of every 14 bitcoin holders was a woman, according to the venture capitalist. "It's around one in six right now, and I think it'll even out soon," he said. According to a March survey by crypto financial services provider Blockfi, roughly one-third of American women expect to buy cryptocurrencies in 2022. Furthermore, 60% of those surveyed said they want to do so within the next three months.
"Women control around 80% of retail spending, and merchants haven't yet discovered that they can save 2%, and they normally run on razor-thin margins, so that might be like doubling their earnings," Draper explained. They can save 2% simply by accepting bitcoin instead of a credit card issued by a bank. And that has the potential to affect everything."
News Source: https://news.bitcoin.com/venture-capitalist-tim-draper-explains-why-bitcoin-will-soar-past-his-250k-estimate/
In my opinion Bitcoin has over the years proven to be a great store of value increasing exponentially in value since creation. I think it is quite possible for Bitcoin to reach $250,000 has the cryptocurrency increases in adoption so should it's value rise and eventually staize
Bitcoin paved the way for a thriving crypto ecosystem which embodied by the growth and success of crypto exchange platforms such as Binance and kraken, Uniswalp and growing popularity of crypto commerce platforms such as Exeno that facilitates the use of crypto to purchase goods without needing to first convert funds to fiat. Thus creating a some what self sustainable market itself ( Bitcoin) and it's alternatives.
Counties El Salvador and Central African republic adopting Bitcoin as legal tender also with the increased use of crypto for humanitarian causes such as what happened in Nigerian where youths all over the country raised funds by donating Bitcoin to protest against police brutality and the #CryptoForPeace is an initiative of BIC with the global goal of positioning cryptocurrency as a peace-oriented one, promoting and facilitating crypto-related donations to support individuals all over the world that may have lost their homes due to conflicts, wars, or intergovernmental disagreements. Bitcoin is only going to be an essential part of our future has it giving a means of survival to the oppressed and disadvantaged which makes it an invaluable tool in the fight against financial oppression. Growth in Bitcoin use only increases it's capability to surpass valuation at a quarter of a million Dollars.
[link] [comments]
source https://www.reddit.com/r/btc/comments/v6aa5s/venture_capitalist_tim_draper_explains_why/
Monday, 6 June 2022
Is this a good time to buy?
Looking back last 5 year chart and sub $200 seems good? Or you guys think we going lower?
[link] [comments]
source https://www.reddit.com/r/btc/comments/v5le6n/is_this_a_good_time_to_buy/
List of big things to forward to before the next bitcoin halving. You must accumulate now.
- Bi-partisan crypto bill by the GOP's Cynthia Lummis and the Democrat's Kristen Gillinbrand (this is a person who voted against bailing out Wall Street & banks circa 2008). This bill should be out this month, but probably won't get a vote until the 118th congress begins next year
- Taproot Support. Praise the lord, because we already have 75%+ nodes supporting it, and Taproot addresses, signatures, and scripting are necessary to unleash the security and innovation we need to begin onboarding institutions, governments, and individuals
- TARO (taproot asset representation overlay). This means stablecoins, products, services, NFT collectibles, tokenized securities, and anything else that you can assign value. It's difficult to stress the absurd liquidity and power this can bring the Bitcoin Network. All of this stuff will ultimately get settled in bitcoin. Why? Because bitcoin is a payment network that only bitcoin travels on. Meaning anything built on or traveling above bitcoin's base layer gets settled in BTC. This is how we "bitcoinize the dollar" flipping the dynamic we're so accustomed to on exchanges, where bitcoin is settled in US dollars. This will fire a major shot across the bow spurning a circular economy war. TARO is also cool because the upgrade to wallets is so minimal. This isn't good news for exchanges
- The Merge. This will set that protocol rapidly on its path towards centralization and self-immolation. Liquid staking derivative platforms will within 1 year acquire the network effects and stakes necessary to capture over 50% of the network and control it forever unless hard-forked, creating several problems itself because of L2, bridges, and sidechains obviously. If it's not a single platform acquiring the network, it will be two of them colluding. The decentralized autonomous organizations that run these platforms are made of TradFi and erstwhile hegemons. Expect them to utilize carry trades (low interest cash borrowing), use it to buy the crypto, stake it, and use their staking derivatives to short the crypto, creating near delta-neutral positioning. Remember, if you're not staking, you're being diluted by whatever the staking APY is. I suspect this inflation will match the USD's traditionally (4% or so). Just another reason why fixed monetary policy (bitcoin) and PoW are important
- SEC regulation: this means securities designations for much of the space which will damage centralized exchanges as much as VC's and (expletive)coins themselves. This is the s-curve adoption shakeout we bitcoiners have been warning about. It will help end the above system we talked about even faster
- Full-blown LiFi (Lightning Finance). If I can send you bitcoin and you get stablecoins on the other end; or you send someone stablecoins and they get milk, then you can see how most people using the Bitcoin Network won't know they're using the network. They won't see or understand what's happening in the background anymore than they do Visa when buying a concert ticket, or HTTP when clicking through a website. You don't have to price things at the store in sats people. It doesn't matter what they're priced in. I can see several payment processors bypassing traditional discrete payment networks (like Visa or PayPal) and leveraging the LN. I expect banks, the traditional payment networks themselves, and even governments to use it. One major chartered bank is already in talks to issue fiat (not stablecoins, but digital fiat) on the LN. It's pretty cool to know the LN will connect everybody in the world, and to get started all that's needed is downloading a free wallet
- Hyperinflation. It's unavoidable. We're at the end of the debt cycle. The USD is trapped. You can't raise interest rates enough because the debt is too high (over $30T) making the interest paid too high. Foreign demand for Treasuries peaked years ago. Supply chains are broken, many for the rest of this decade. Energy inputs can't be reigned in, not just because of sanctions which cause an immediate impact, but because even when those are gone, the chronic underinvestment in exploration/extraction will take years to fix with proper investment (even if we made a sweetheart deal with Venezuela). And lastly, inflation is high everywhere you look. This is what Robert Triffin predicted back in the 1960s for an inflationary world reserve currency--an eventual doom vortex when the currency got trapped between low rates, inflation, debt, and falling foreign demand. Several countries have currencies which are more volatile than BTC is (Turkey, Iran, Argentina, Cuba, much of Africa, etcetera). Is Japan next? What I know is it's climbing the ladder, and when BTC is more stable than major currency pairs are, with longterm bias to the upside, we'll see a credit market rapidly develop around bitcoin collateral globally. Point is, the capital flight release valve in a hyper event is pretty obvious: Bitcoin. The USD isn't going away just yet, but stopping inflation doesn't mean prices go down, it simply means prices stop going up. Thankfully BTC will be there to do whatever you need it to do: issue new assets, collateralize, lend, borrow, save, send, or spend. The new global reserve asset
∞/21M
Conclusion: HODL. BUY. REPEAT.
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Sunday, 5 June 2022
If tether collapses how will it effect bch?
Tether gets printed to buy a lot of btc I get that. I know btc is tied to a lot of swaps in the crypto market altcoins so if btc falls everything falls. But is there a lot of tether tied to bch?
[link] [comments]
source https://www.reddit.com/r/btc/comments/v4vjll/if_tether_collapses_how_will_it_effect_bch/
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