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  #101  
Old 20.02.2021, 07:27
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Re: Mass adoption crypto

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It's actually possible to take control with <50%.
No it's not. This is a common misconception that miners are "in control". It's possible for a malicious actor with a large share of hash power reorder & censor transactions during the time they can maintain the longest & heaviest chain (only really practical with >50%, more for sustaining a meaningful amount of time, it's possible with much less (e.g. 30% but for very short periods. This is what waiting for confirmations is for). These "bad blocks" [censored blocks] can also be produced in secret and applied retroactively as a re-org (known as a block withholding attack, this is where people can get screwed with double-spends).

This can be mitigated by waiting for confirmations on incoming transactions (if there is a sustained attack wait at least as many confirmations for the attack window to be over )

This doesn't allow miners to "write what they want". Anything crazy (like printing more BTC) is them just forking into a new chain. Even then they can't just steal from addresses. IMO more power rests with the exchanges in choosing which fork to recognize than with brute mining power. The history of the UASF also interesting to try to understand the dynamics of power re: miners.
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  #102  
Old 20.02.2021, 14:21
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Re: Mass adoption crypto

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Technical aspects are interesting, but psychological ones too. This headline about a 48 million dollar Prius is interesting. The story is about someone who sold 1000 BTC some years ago to buy the car. If the guy have hodlded, these 1000 BTC are 48 million today. https://www.thedrive.com/news/39208/...millions-today
Let's not forget the first ever commercial Bitcoin transaction on 22 May, 2010: a guy called Laszlo Hanyecz paid 10,000 Bitcoins for two large Papa John's pizzas to be delivered to him. That's about $570 million today. More than half a billion dollars for two pizzas. Oops.

The British man who accepted the deal did very well. He paid $25 for the pizzas but the 10,000 Bitcoins that he received were already worth a total of about $41. He promptly sold the Bitcoins...

Then, of course, there's James Howells, the Welsh IT engineer who in 2013 literally threw away a hard drive storing his wallet containing 7,500 Bitcoins. It's OK, that's only $428 million now; less than half a billion bucks. He has tried everything to find the lost hard drive, but the landfill in which it was dumped is vast and the hard drive has been lying somewhere there for eight years now, unless it got crushed by the heavy machinery running over the dump all the time.

Last edited by Guest; 20.02.2021 at 14:43.
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  #103  
Old 09.03.2021, 10:26
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Re: Mass adoption crypto

Couple of reasons why we all possibly hate crypto-currencies

https://finance.yahoo.com/news/bitco...223544895.html
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  #104  
Old 09.03.2021, 11:28
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Re: Mass adoption crypto

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Couple of reasons why we all possibly hate crypto-currencies

https://finance.yahoo.com/news/bitco...223544895.html
You might hate crypto. I love it.

I don't know where Goldman Sachs gets their figures from, though. BTC's YTD gain in USD is 87% and for the last 12 months, some 577%. ETH is even more impressive.

Interesting to see that 40% of Goldman Sachs clients have their fingers in the BTC pie. That's a sophisticated group of investors, one that most people would regard as very smart with their money.
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  #105  
Old 09.03.2021, 11:49
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Re: Mass adoption crypto

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You might hate crypto. I love it.

I don't know where Goldman Sachs gets their figures from, though. BTC's YTD gain in USD is 87% and for the last 12 months, some 577%. ETH is even more impressive.

Interesting to see that 40% of Goldman Sachs clients have their fingers in the BTC pie. That's a sophisticated group of investors, one that most people would regard as very smart with their money.
Ethereum with its impressive run has even higher prospects in the future. Increased my positions in there last month but don’t wanna buy more of it, especially when it uncomfortably touches all time highs of $2000 per coin again. Will rather wait for another correction (if there is going to be any soon).

https://www.businessinsider.com/ethe...ip-1559-2021-3

Not so sure about XRP though as the Ripple-SEC lawsuit drags on and most probably they will settle the case some day but damage to reputation might be already done. Majority of exchanges delisted XRP and MoneyGram wound down their relationship with Ripple. Even got notification from SQ lately that they might follow the suit as well, if their trading partner Bitstamp delists XRP from its exchange in Europe, in which case it will remain laying non-tradable in the SQ’s vault.
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  #106  
Old 09.03.2021, 11:50
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Re: Mass adoption crypto

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No it's not. This is a common misconception that miners are "in control". It's possible for a malicious actor with a large share of hash power reorder & censor transactions during the time they can maintain the longest & heaviest chain (only really practical with >50%, more for sustaining a meaningful amount of time, it's possible with much less (e.g. 30% but for very short periods. This is what waiting for confirmations is for).
read the Eyal paper and later block withholding attacks. the threshold for "51%" attacks have been substantially lowered.
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  #107  
Old 14.04.2021, 16:23
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Re: Mass adoption crypto

Today is very important milestone for cryptocurrencies i.e. debut of Coinbase on IPO:

https://finance.yahoo.com/news/anyon...115731664.html

Very excited about it!
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  #108  
Old 14.04.2021, 21:38
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Re: Mass adoption crypto

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The next major news item for cryptos will be when some central bank somewhere announces that they are buying bitcoin.
Apologies for quoting myself but I think this is a nice article summarizing the significance of this event in the crypto-world, which requires citation all the same.

https://finance.yahoo.com/news/coinb...172655492.html
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  #109  
Old 16.04.2021, 16:44
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Re: Mass adoption crypto

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Apologies for quoting myself but I think this is a nice article summarizing the significance of this event in the crypto-world, which requires citation all the same.

https://finance.yahoo.com/news/coinb...172655492.html
What's the significance?

Stocks have probably been traded on NYSE for many decades before NYSE's IPO, possibly centuries. What does providing a platform to trade on have to do with being a public company?
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  #110  
Old 16.04.2021, 16:52
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Re: Mass adoption crypto

Now it's even gone to the dogs.
https://dogecoin.com/
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  #111  
Old 16.04.2021, 16:54
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Re: Mass adoption crypto

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What's the significance?

Stocks have probably been traded on NYSE for many decades before NYSE's IPO, possibly centuries. What does providing a platform to trade on have to do with being a public company?
It’s all about opening avenue to overall cryptos adoption not about the COIN stock itself, which in my opinion is overvalued and one doesn’t need to go IPO to be able to trade the crypto currencies. This event itself shows that the crypto’s are here to stay and ain’t going anywhere anytime soon.
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  #112  
Old 16.04.2021, 17:07
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Re: Mass adoption crypto

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Itís all about opening avenue to overall cryptos adoption not about the COIN stock itself, which in my opinion is overvalued and one doesnít need to go IPO to be able to trade the crypto currencies. This event itself shows that the cryptoís are here to stay and ainít going anywhere anytime soon.
Except to help speed up the end of the world.
https://earth.org/are-cryptocurrenci...e-environment/
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  #113  
Old 16.04.2021, 17:12
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Re: Mass adoption crypto

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Except to help speed up the end of the world.
https://earth.org/are-cryptocurrenci...e-environment/
Itís interesting how the media associate everything with Bitcoin only, which is indeed environmentally unfriendly. What about other useful coins that do not consume so much power. e.g. Ethereum that utilizes gas fees.
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  #114  
Old 16.04.2021, 17:13
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Re: Mass adoption crypto

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Now it's even gone to the dogs.
https://dogecoin.com/
Thatís the one making headlines today:

https://finance.yahoo.com/news/crypt...101019414.html
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  #115  
Old 17.04.2021, 15:01
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Re: Mass adoption crypto

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Itís interesting how the media associate everything with Bitcoin only, which is indeed environmentally unfriendly. What about other useful coins that do not consume so much power. e.g. Ethereum that utilizes gas fees.
Ethereum is still proof of work (gas fees are a separate thing to that), and consumes about a quarter of the power that the Bitcoin network does (a quick back-of-a-fag-packet calculation puts Ethereum mining consumption at something like 6GW). The power consumption scales with price, so is rising at the moment (although this is tempered by the lack of suitable graphics cards, which is what makes it so profitable to mine currently if you have such cards).

Unlike Bitcoin, Ethereum does have a solid plan in place to migrate to proof of stake (Ethereum 2.0, where power consumption will plummet to insignificant amounts). It's currently working well in test, but won't go live until 2022 at the earliest.
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  #116  
Old 17.04.2021, 15:50
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Re: Mass adoption crypto

Elon Musk has made tens of thousands of teenagers from TikTok rich with his tweets over DOGE coin, it's quite funny to witness.

In addition, all the other clones on ETH network, like LEASH, AKITA, POODL etc have also been growing, some around 6000% over the past week.

People who invested just 1500 in January have now bags worth around 400K on those dog-related memetokens.
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  #117  
Old 18.04.2021, 12:46
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Re: Mass adoption crypto

Crypto is taking a hammering today.

Such volatility..

I hope folks invest only what they will not be upset about if they lost 100%.
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  #118  
Old 18.04.2021, 13:19
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Re: Mass adoption crypto

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Crypto is taking a hammering today.

Such volatility..

I hope folks invest only what they will not be upset about if they lost 100%.
The most needed correction couldn’t come in the greater time
Opportunity to reload.
https://cryptonews.com/news/almost-u...-cryp-9959.htm

I would say, if you believe in keeping something that has a potential to grow then HODL it, otherwise sell it but not on the dip (substantial mistake).

Last edited by jacek; 18.04.2021 at 14:08.
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  #119  
Old 18.04.2021, 13:51
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Re: Mass adoption crypto

is this the dip? that's the question.

If yes, we should HOLD and not be worried.

Last edited by cserdar; 18.04.2021 at 15:46.
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  #120  
Old 27.04.2021, 22:16
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Re: Mass adoption crypto

https://www.reddit.com/r/AltStreetBe...eb2x&context=3

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