That's adorable, they think it would impact civilisation.

i stopped reading when the author used the word "grok" unironically.

People are spending real fake money to buy fake fake money from snake oil salesmen thinking their going to save the world or be rich forever. Only people who will benefit from all this are the ones who acquired the real fake money from people who wanted their fake fake money.

"... they talk about how crptocurrency will decentralize power and wealth, changing the world order."

Written by a true neckbeard.

It’s just a different level of consciousness.

So it is a cult then?

Better get a good CPA for all those back taxes.

real talk. That cat was cute as shit.

Bitcoin was a mistake

Can’t wait for the crypto collapse

i hope we'll find out soon

These guys all seem like cunts.

here is a kucoin referal link if any of you "girls" want to change this.

“When I meet people in the normal world now, I get bored,” Mr. Hummer said. “It’s just a different level of consciousness.”

This...is fucking hilarious.

Bitcoin is run by the illuminati. This article proves it. Notice how the markets are down despite thousands of new customers flocking to exchange platforms to BUY not sell.

Think about it. The ripple guy became a billionaire for a concept that has no application. Owning xrp provides no value to anyone, it’s purely speculation. One day all your ripple will be gone and your money along with it.

down the rabbit hole..

The Illuminati hole.

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Mr.Buttram sounds like a discerning character.

Gambling. A few will get rich (usually those who were rich to begin with, such as the 26-year-old who somehow had $400k to freely invest), but the vast majority will not, and many will lose everything. And yet everyone always thinks it will be different this time around.

Bitcoin "wealth".

It's funny, because this sort of article makes people want to buy bitcoins, which in turn makes those who have bitcoins richer and the new buyers more likely to take the fall when the richer people cash out.

The state shall ban this madness.

“Mr. Hummer went out to meet Joe Buttram, 27, for drinks. As a mixed martial arts fighter, Mr. Buttram said he would fight for a couple hundred bucks, sometimes a few thousand, and worked security at a start-up, but his main hobbies were reading 4chan and buying vintage pornography, passions that exposed him to cryptocurrency.

He said his holdings are into double-digit millions but wouldn’t give specifics other than to say he’d quit his job and is starting a hedge fund. “

😂 I love it

Haha, this is a great read!

“My neurons are fried from all the volatility,” Mr. Hummer said. “I don’t even care at this point. I’m numb to it. I’ll lose a million dollars in a day and I’m like, O.K.” 😂

Crypto Crackhouse, 25 year old with a $100M hedge fund lol.

What is this shit OP? Where the fuck is my drama? Even the comments have no drama.

KYS, bro.

Womyn's Empowerment =

1. Identify problem.
2. Find someone else to fix it for you (probably men).
3. Profit.

The first rule of cryptocurrency journalism is that all cryptocurrency journalism is completely bullshit. It's either written by people who have no clue what's going on, or people with an extreme stake in whatever they're secretly or not-so-secretly trying to sell you on. The former are usually informed by the latter.

The most compelling stories you can tell about bitcoin are the ones where someone made an extremely unlikely or risky bet and won big. Once people start seeing these stories they want in themselves, some people make big bets and win (and some people who made those bets lose, but that's not sexy so whatever), and the cycle continues.

The result of this intersection of new technology, social media, and irresponsible journalism makes bitcoin/cryptocurrencies look like some crazy new-age tech cabal of geeks making tons of money out of nothing. However:

Recently the founder of something called Ripple briefly became richer than Mark Zuckerberg.

This is not true.

The cryptocurrency community is centered around a tightknit group of friends — developers, libertarians, Redditors and cypherpunks — who have known each other for years through meet-ups, an endless circuit of crypto conferences and internet message boards.

I'm sure groups like this exist, but calling it/them 'the cryptocurrency community' is laughable.

some estimate that 95 percent of the wealth is held by 4 percent of the owners.

It's almost impossible to accurately estimate something like this. A lot of those coins are likely ownerless, thrown away back when they were worth basically nothing (or actually nothing).

I've been involved in bitcoin since 2011, and to me the story of bitcoin is a story of scammers. Before bitcoin was worth anything, people like pirateat40 and those around him found ways to make 'investing' in bitcoin look attractive by running a ponzi scheme. As bitcoin grew in value and prominence, the new scam was to create pointless bitcoin clones-- think dogecoin-- and convince people to buy them, promising the same success that bitcoin had seen previously. Now that that scam is slowly petering out (or becoming established as a legitimate way to 'daytrade crypto'), scammers are moving on to ICOs which are pretty much just a new class of ponzi penny stocks. Semi-anonymous people are trying to establish themselves on social media as cryptocurrency experts, even sometimes selling their 'advice' through patreon etc, all so that they can convince the people they're fleecing to buy or sell whatever will make the scammer the most money.

The tech behind bitcoin is incredible and revolutionary, but it's in its very early stages. And most people interested in cryptocurrencies now aren't interested in the tech, they're interested in the 'moon', 'hodl', 'parabolic', whatever meme is going around to convince people they'll get rich without even trying like the lucky early adopters.

...so the result is that all the visible people in the crypto space are basically just showing off their wealth as much as possible to attract more people to keep the bubble going. The couple paragraphs at the end about the housekeeper is heartbreaking to me. People like her are almost certainly what's behind bitcoin's recent meteoric price spike, and people like her are going to be the ones who're financially destroyed when the markets finally realize that bitcoin basically doesn't even work yet.

The best move here is to basically ignore cryptocurrencies. If you're into risky investment, buy some realizing that it's very likely to completely collapse in value in the near future. There's no point in worrying about people who're heavily incentivized to brag about how much money they made from crypto (whether or not that's actually true).

LOL.. Just wow.

I would hardly call any of these metrics “fundamentals”. They’re simply correlations in my opinion. Prices are not based on hashrate/daily transaction numbers; they’re based on people’s expectation of the future.

Doesn't this assume that the peak prices were justified?

I don't think the network activity was growing as fast as the price during that run.

In the case of Bitcoin, 26% of the network activity remains since the peak, while for Ethereum 93% remains. The proxy of value for Bitcoin is 0.26² = .07, which implies a 93% drawdown in network value is justified. In the case of Ethereum, 0.93² = 0.87, implying a 13% drawdown in network value is justified, jaw-droppingly less than the 93% drawdown we currently see.

​

ETC developers, please build some popular and market oriented dapps on Etc now. Like decentraland and CryptoKitties.

There's no substitute for applied experience. However, if I had to choose between an economist and a mathematician, I'd go with the mathematician for the sole reason that they understand the fundamentals. That doesn't mean they're inherently more valuable though. Both would eventually need to put their understanding into practice. Luckily, ETC casts a wide enough net that there's room for everyone.

By the way, for all of the lurkers, join us on Discord (link in sidebar) so you can see developements like this as it happens.

Bitcoin lost its way when every other post on reddit became about financial institutions and the greed they bring.

The irony of this is so huge it begs belief, true crypto believers would be concentrating on payment network using BTC, not this other shit.

!lntip 10

Here is the link to the original comment thread. Or you can comment here to start a discussion. Author: mccormack555

Wtf is this list? Straight shit coins holy cow

This is huge, there are thousands and thousands of people that can only use Coinbase to get crypto currency.

I am forced to buy eth and transfer it to xrp, which causes extra fees.

No other crypto currency exchange has been accepted by credit union.

Well I guess they can't ignore XRP any longer now that it's the #2 coin.

I’m not as familiar with the rest of these cryptos as OMG. Do any of them have credibility such as being more than “vaporware” . I’m glad OMG has made this cut

Stratis is old news, people lost interest in them. They havent built anything good and they've been going on for two-three years now.

​

"investors see stratis as a competitor to Ethereum"

​

XLM,ADA,EOS,NEO,TEZOS. All potential competitors to ETH.

who needs shitcoinbase

monero atomic swaps yo

https://www.reddit.com/r/KinFoundation/comments/a405hy/kin_shortlisted_for_coinbase_its_happening_folks/

Maybe bitcoin going to shit so badly, they're trying to add xrp in so that the xrp sales would help pull bitcoin out of the mess.

I haven't decided if I wanna gamble come main net. I hold about 30k LINK and I'd love to get that number to 100k. Main net as some have stated should go a lot like other project launches where there is a HUGE pump surrounding the anticipation and then a big not as huge of a dump after launch that would allow me to sell all my LINK high and rebuy lower. But what if I gamble and lose?

It will need an audit first and that audit wont be until after the court case, so you might be in for a long wait of a few years or more.

Great news.

Please be aware that price and exchange discussions are off-topic per subreddit rules found in the sidebar:

No price or exchange discussions or memes (post them in /r/ethtrader or the #ant-trader channel in Aragon Chat instead)

Certainly, if the small cap project like Payfair.io can add Nano to their platform, the big behemoth Coinbase can figure it out!

Coinbase is owned by Digital Currency Group which also has a stake in Zcash and Ripple.

They will never allow a competing coin on their platform.

​

Remember when Coinbase had standards?

Anyone read the comments on the article? A majority of them are calling for STEEM. Thoughts?

Of course it's not. Coinbase won't be caught dead douching a DAG. It's too much for them to handle.

Maker!!!

​

YUGE!

awesome news, this will give the project even more exposure

hope if coinbase added xrp they would also have a trading comp like happening in a prem exchange right now i think that would add the hype to ppl to be more active and buy more xrp right?

We dont need them... they are dirt af!

That would be nice. I put in 1k and it’s worth $124. 😂

Golem, eos or kin my guess as next up

While a listing on Coinbase would be great, it’s very coincidental that Coinbase has listed only coins with which their series A investor, DCG, is/was invested in. Since MKR isn’t officially listed for DCG, this may be a long(er) shot than the others. Regardless, go MKR team this project isn’t reliant on Coinbase

I'm not going to address the author's arguments because he doesn't really present any argument. The whole article is just a repeated rant about how Vlad didn't cover liveliness, which makes no sense since the paper explicitly claimed the protocol wasn't complete and liveliness would be covered in a future. But I want to address the author's elitist attitude towards independent research which, IMO, is unacceptable and should be condemned.

Each of these scientific fields has rich literature, peer-review processes, and established concepts and terminology that can be used in crypto protocols. (...) The norm in the industry is for engineers to publish independent (non-peer-reviewed) whitepapers for their projects, and there are no established channels for getting feedback on the technical work.

The same scientific field that proved 1-layer neural networks are sufficient, delaying the progress of AI for years until actual engineers challenged that assumption and caused a revolution on the field with deep neural network? Most of the code behind state of art AI technology such as Alpha Zero, Deep Mind, Tensor Flow, Watson and so on isn't peer-reviewed.

The same scientific field that proved Byzantine General's problems to be impossible to solve, until an engineer came up out of nowhere and created Bitcoin? Also, is the author aware Bitcoin itself isn't a peer reviewed paper?

The same scientific field that prides itself for generating knowledge to humanity, but then locks all that knowledge behind ridiculous paywalls?

A diploma is just a piece of paper, and peer reviewing is only one form of quality control. There are brilliant minds on this field that didn't go through formal education, but still managed to learn and produce more than many PhDs around the world. Some of those minds are working on Ethereum right now and producing open-source knowledge that is, ironically, cited by some of those scientists in their peer-reviewed, paywall-locked papers. You should be very glad those people are doing what they do, as otherwise you'd not even be writing this article about crypto-currencies.

Academia is great, but it is not the only answer. People should be able to do research, whether or not they went through an academic institution. That kind of elitist philosophy isn't productive and only hurts both communities. There are scientists writing crappy papers, and non-scientists doing great discoveries, and vice-versa. There are engineers doing quality audits, and scientists doing poor peer reviews, such as this one.

I'm not going to address the author's arguments because he doesn't really present any argument. The whole article is just a repeated rant on how Vlad didn't cover liveliness, which makes no sense since the paper explicitly claimed the protocol wasn't complete and liveliness would be covered in a future. But I want to address the author's elitist attitude towards independent research which, IMO, is unacceptable and should be condemned.

Each of these scientific fields has rich literature, peer-review processes, and established concepts and terminology that can be used in crypto protocols. (...) The norm in the industry is for engineers to publish independent (non-peer-reviewed) whitepapers for their projects, and there are no established channels for getting feedback on the technical work.

The same scientific field that proved 1-layer neural networks are sufficient, delaying the progress of AI for years until actual engineers challenged that assumption and caused a revolution on the field with deep neural network? Most of the code behind state of art AI technology such as Alpha Zero, Deep Mind, Tensor Flow, Watson and so on isn't peer-reviewed.

The same scientific field that proved Byzantine General's problems to be impossible to solve, until an engineer came up out of nowhere and created Bitcoin? Also, is the author aware Bitcoin itself isn't a peer reviewed paper?

The same scientific field that prides itself for generating knowledge to humanity, but then locks all that knowledge behind ridiculous paywalls?

A diploma is just a piece of paper, and peer reviewing is only one form of quality control. There are brilliant minds on this field that didn't go through formal education, but still managed to learn and produce more than many PhDs around the world. Some of those minds are working on Ethereum right now and producing open-source knowledge that is, ironically, cited by some of those scientists in their peer-reviewed, paywall-locked papers. You should be very glad those people are doing what they do, as otherwise you'd not even be writing this article about crypto-currencies.

Academia is great, but it is not the only answer. People should be able to do research, whether or not they went through an academic institution. That kind of elitist philosophy isn't productive and only hurts both communities. There are scientists writing crappy papers, and non-scientists doing great discoveries, and vice-versa. There are engineers doing quality audits, and scientists doing poor peer reviews, such as this one.

Vlad's responses:

https://twitter.com/VladZamfir/status/1070811508664352774

https://twitter.com/VladZamfir/status/1070811920326946818

​

i always disliked how all the so-called """researchers""" dont have PhDs and don't get peer reviewed

Interesting. So then mutexes don't work within the Casper protocol like they do in regular programming? I ask this because atomic transactions are trivial in the programing world, relatively speaking (eg, compare-and-swap). Though that may not work when attempting to scale.

Wow...a response to this would be great..

Is Vlad on Reddit?

With around 10B more they could buy out the entire supply of bitcoin

Some other coverage here:

• [Business Insider] A company trying to solve one of the biggest pain-points in crypto just raised $8 million, and it could help lure in big Wall Street funds to the burgeoning industry
• [The New York Times] Two Sigma Ventures Backs Cryptocurrency Security Startup Trustology
• [VentureBeat] Trustology raises $8 million to safeguard digital assets

This is such pure gold that I feel it should be pinned.

FUD: it’s used by neo-Nazis!

le enlightened bitcoiner: Wonderful!

FUD: uses more energy than Denmark

le enlightened bitcoiner: yeah but fuck Denmark, also more energy=betterer

Electricity usage is just a proxy for the insane inefficiency of bitcoin. How can it ever displace the banking system when its several orders of magnitude more expensive on cost. Just cause Visa charges merchants 1.5-3% of each transaction doesn’t mean that their costs are anywhere near that.

Poe's law. No way this is serious.

Lets see the math.

I feel like this author is just intentionally peddling the bullshit buttcoiners like to hear. It's just too on the noise to not be self aware.

you can tell the moral nihilism of nocoiners by how they never got fined $20k for running a fraudulent bitcoin-accepting bucket shop with fake trading, which conclusively demonstrates their fundamental

Elaine is a Stanford graduate and has written for Bloomberg magazine. You would think education would at least make you reasonable and that too an Ivy League one but you would be wrong.

This is literally the dumbest thing I have read all week and that includes several Trump tweets. So good job, Elaine, good job indeed.

This can't be real

private energy consumption is a private matter and should be off-limits to public scrutiny

That could be true, if it didn't impact our collective air, water, and the ability of life to survive on earth.

I can't even tell what is or isn't supposed to be satire anymore.

Nocoiners don’t believe in private property.

Don't like cryptocurrency? You hate private property! Don't you follow the impeccable logic here?

electricity usage is an unassailable Bad.

We were never talking about usage though. We have always been talking about flat out right wasting it. There is a big difference. I've never heard a nocoiner complain that people are using electricity to meet their needs, or accomplish what they set out to do.

​

Furthermore how many examples does someone need of bitcoin miners stealing electricity, or finding shady ways to not pay the bills. Even worse, the miners are flat out right a function of the state itself as it is in the majority of cases. There is no argument for private property in a single one of these cases. Just asshole thieves who think they've given themselves the moral high ground because they fancy themselves as "ancaps".

​

This whole argument is bad, and its sad that this is what the majority of self proclaimed cryptocurrency "ancaps" think.

Externalities? What are those?

When i see technical analysis of crypto I just laugh. Even technical analysis of equities doesn’t usually work very well as something like 85% money managers fail to beat the S&P.

When it’s crypto-based, it’s even more funny because it’s like fortune-telling the price and color of turds when in the end they all approach zero. Then these crypto traders begin to throw around buzz words (eg triangle, moving average) they hear from stock day traders they envy.

chart. isn't. log.

​

"F" see me after class.

kinda like how Motel 6’s slogan is “We’ll leave the light on for you” -- No one ever says “That’s so wasteful!” We think, oh good, how convenient.

Bitcoin 6: We'll leave the country on for you!

Nocoiners don’t believe in private property.

Property is theft. Pierre-Joseph Proudhon was the original nocoiner.

FUD: Bitcoin’s price is entirely driven by speculation!

₿: Ah, what is speculation but hope? And how can anyone deny the value of hope??

Bitcoin's value is backed by DREAMS AND STARLIGHT!!!

This line of thought equally justifies blowing all of your money on lottery tickets or penny stocks. If anyone tries to tell you how thoroughly unwise that is, just ask them why they hate hope so much.

Google the author, Elaine Ou. She holds the dubious honor of being sanctioned by the SEC for operating an illegal exchange called the Sandhill Exchange a few years ago. She paid a huge fine and I believe she is legally prohibited from working in finance for some years as a result. Her IQ is probably 220 but she has the common sense of an armchair. She’s quite a character. She could really be Satoshi.

It sounds so fucking on the nose, but then it's Elaine "I've only built a Bitcoin bucket shop and populated it with fake trading bots, why would SEC fine me?" Ou, so it might be serious.

As an aside, you can click the "(elaine.ou)" after the title to see what else was submitted on Reddit from same domain, like:

"What if baby product companies created pronatalist advertising to ensure a stream of future customers?" wonders Elaine Ou. (elaineou.com)

submitted 2 months ago by DaphneDK42

to r/Natalism

If it's a joke, it's a long running one.

Edit: After a closer look I feel like it could be a long running joke, in which case that's some damn great satire.

Bitcoin uses more electricity than all of Denmark! ₿: Good! I sleep better at night knowing that my money is protected by obscene amounts of computational power.

Do you have a moment to talk about my brillliant Dyson Sphere ICO sir?

In all honesty this piece is perfect. I am in awe. You don't even have to engage in lengthy explanations why crypto fans are crazy to convince people anymore, you can just post this link and most reasonable people will be stunned by its stupendous insanity.

“Let’s abolish the CIA!”

You mean the government agency keeping tabs on where your pedobucks are going?

This is great if you want to come across as completely autistic!

FUD: Bitcoin is being used by neo-Nazis!

₿: Wonderful!

AHAHAHAHAH

> " In a world where War is Peace, Freedom is Slavery, and Theft is Good, any attempt at rational debate is an exercise in futility. "

Then to proceeds to proclaim the goodness of theft...