Author Topic: Cryptocurrencies  (Read 158364 times)

Fat Pitch

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Re: Cryptocurrencies
« Reply #870 on: February 25, 2019, 09:42:05 AM »
Chain analysis software tracks the IP address that broadcasts the transactions and the fiat on-ramp points mostly KYCs all individuals entering the system. So yes the world does know who are behind most of these wallet addresses. Great thing is no transaction "disappears" like they do in the current banking system. Can't launder funds through BTC like you can with HSBC.

Guess what currency was used to transact for purchases
https://blockonomi.com/history-of-silk-road/

All that the world knows, is that a digital wallet has 'N' BTC in it.
The world does not know who's account that is, who paid into it, and who received any payments from it; just accounts.
ONLY two entities know the identities; the account holder, and the Oracle that issued the wallet keys. 

SD

BTC offers the most value to the criminal element? Are you ignorant of the fact that all transactions are forever logged on the public ledger for the world to see? The 21M cap is based on the client program parameters and any modification to it causes you to get forked off the global network.

Much is made of the 21M cap.
Problem is that BTC is not scarce, UNTIL that cap is eventually reached. The second problem is what does the cap include? Are the BTC in frozen wallets (lost the keys) included in that 21M?  - 'cause if they aren't, it's hard evidence that the cap can, and has been changed; upwards (ie: inflation).

The 'risk' also didn't go away, it just got swapped.
BTC offers the most value to the criminal element, and BTC security ultimately rests on their material presence. Russian and Chinese hackers are very good, but nobody hacks their patrons as it leads to a very short life ;) Hence asset class non-correlation, comes at the cost of criminal association. Not always a bad thing, if the alternative is reliance on a corrupt cental banker.

BTC is just another brand of soap; there are lots of competing brands (stores of value), and there always will be.
There will also be competing central banker token (CBDC), that is interest bearing.
5% capture of the existing gold allocation seens overly optimistic
 
SD
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rkbabang

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Re: Cryptocurrencies
« Reply #871 on: February 25, 2019, 09:59:03 AM »
Chain analysis software tracks the IP address that broadcasts the transactions and the fiat on-ramp points mostly KYCs all individuals entering the system. So yes the world does know who are behind most of these wallet addresses. Great thing is no transaction "disappears" like they do in the current banking system. Can't launder funds through BTC like you can with HSBC.

IP addresses are very easy to hide/fake.   You can't track people by IP address.

EDIT:  That is poorly worded as you can track most people by IP address.  You can't track someone who doesn't want to be tracked by IP address.
« Last Edit: February 25, 2019, 10:01:34 AM by rkbabang »

Fat Pitch

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Re: Cryptocurrencies
« Reply #872 on: February 25, 2019, 10:08:32 AM »
With all the dragnets sniffing out IP addresses and VPN backdoors... yeah you are being tracked unless you use isolated hardware with Qubes/your own operating system. The pool of candidates with that level of opsec knowledge is very small so 99% are tracked.

Chain analysis software tracks the IP address that broadcasts the transactions and the fiat on-ramp points mostly KYCs all individuals entering the system. So yes the world does know who are behind most of these wallet addresses. Great thing is no transaction "disappears" like they do in the current banking system. Can't launder funds through BTC like you can with HSBC.

IP addresses are very easy to hide/fake.   You can't track people by IP address.

EDIT:  That is poorly worded as you can track most people by IP address.  You can't track someone who doesn't want to be tracked by IP address.
Where Seeking Out Risk Adjusted Return is our Passion!


DRValue

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Re: Cryptocurrencies
« Reply #874 on: May 22, 2019, 10:56:03 AM »
Mentioning Chainlink once more as Mainnet version 1.0 goes live May 30th.

https://twitter.com/chainlink/status/1128322749137596416

This project is probably the most important in crypto.
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Fat Pitch

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Re: Cryptocurrencies
« Reply #875 on: May 22, 2019, 12:45:45 PM »
https://www.fxstreet.com/cryptocurrencies/news/ethereum-20-research-breakthroughs-already-figured-out-says-vitalik-buterin-201905221520

This is a big statement by Vitalik, creator of Ethereum. Having followed all the research development for Ethereum 2.0 the past 18 months, I feel these nerds can actually pull off creating a scalable trustless settlement layer for the entire financial system stack and anything else that requires automated escrow.
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roughlyright

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Re: Cryptocurrencies
« Reply #876 on: May 22, 2019, 04:31:22 PM »
Mentioning Chainlink once more as Mainnet version 1.0 goes live May 30th.

https://twitter.com/chainlink/status/1128322749137596416

This project is probably the most important in crypto.

I already own lot of LINK. Very high quality project. What other tokens do you like?