News:

Forum Rules can be found here

Main Menu

Daily Crypto Nooooooz

Started by indiamikezulu, February 28, 2017, 12:47:57 AM

Previous topic - Next topic

indiamikezulu

'Chinese bitcoin exchange OKEx denied allegations that it was hacked and blamed recent thefts on users who did not properly secure their accounts.
As reported in regional media outlets, roughly 10 customers of OKEx and OKCoin — both owned and operated by the same company — allege that more than 600 BTC (worth close to $3 million at the time of the theft) — was stolen from their collective accounts in late August. One of those users claims to have lost more than 200 BTC . . . '

https://www.cryptocoinsnews.com/chinese-bitcoin-exchange-okex-denies-hack-blames-3-million-theft-user-behavior/



Livecoin states that they won't accept Support Tickets relating to account hacks from users who didn't have 2fa enabled.

My point here is not who is right or wrong, but the 'GRS should be a nation thing' I suggested yesterday. Just this morning, I spoke at length to one of the IndiaMikeZulu guys about how communities actually work. Helping people to adopt our crypto should be a no-brainer. But it isn't (and we talked about some communities that are in trouble because of this arrogance).

GRS's focus on developing wallets is the correct approach, and our general approach to assisting newcomers (not just-passing-through traders . . . ) should extend to helping them develop good OPSEC.

indiamikezulu

I shall dump this here, and keep checking:

'According to the Bitcoin Gold repository, the coin has been pre-mined for at least 16000 blocks which could add up to at least 200,000 Bitcoin Gold. This then could leave a dangerous amount of Bitcoin Gold in the hands of their team without holders knowing, and would allow the team to completely manipulate the market once traders start buying and selling.'

https://investfeededge.com/sentiment-bitcoin-gold-fork-falls-apart-stunning-details-revealed/

Gooxer

just woke up and reading the news....
seems the dutch association of banks had a raid here, orchestrated from brussel.
they suspect a deal blocking fintech companies requests for customer data.
guess the "old reumathic man" still doesn't know how to cope with the changing tides.
now hoping they wont regulate fintech industry (and thus also cryptocurrency) to shit
if so i will blockchain myself to the entrance of a local bank as protest  :D
but like the signal to the banking world.


https://www.reuters.com/article/us-eu-banks-antitrust/eu-investigates-possible-dutch-and-polish-blocking-of-fintech-services-idUSKBN1CE1X9

what do you guys think is the long term plan of goverments trying to cope with cryptocurrency and other new found fintech?
as of now, it is really in the hands of average joe's, wich again goes against the controlling nature of goverments, i am a bit weary and fearfull of any seemingly good intentions against the users of crypto and blockchain startups.

there has to be a political motivation and plan behind this.
and as brussels is quite right and corporate minded at the moment, i dont think it's in the interest of the average man meddling in crypto.
to much potential shifting in power, they can't have that :D any idea which way this is going?

indiamikezulu

#258
Political Guy gonna guy you a serious answer:

States always want to increase their power. But if we were only trying here to make and sell a tastier cheese sandwich, they probably wouldn't care too much. (Perhaps the Dutch Cheese Merchants Association would send black helicopers . . . )

But in this case – and we'll talk another day about the fact that The Empire is failing – we are 'disintermediating' the ability of governments, via their national currencies, to collects taxes.

Look up the phrase 'existential threat.'

And I note also here how the generally increased technical complexity of the world is being leveraged by governments to vastly increase their control of everything everywhere all the time.

But here's where the joke comes in: if The Generals at The Pentagon need to protect their computer systems, where do they find the best geeks in the world to do that?

Answer: not in the Pentagon!! Governments are always politically and intellectually behind the curve.

So: we are locked in an unholy and open-ended conflict: clumsy, corrupt, and ignorant governments will clomp about, trying to shut cryptos down – and/or 'co-opt' them – and the crypto geeks (the ones who haven't gone to work in the Pentagon . . . ) will travel fast and light, and win.

Your homework: read a little on the U.S.'s failure in Viet Nam: 'asymmetrical' versus 'symmetrical' warfare. The U.S. was humiliated by forces that just weren't dumb enough to march out into the open so the U.S. could shoot at them.


indiamikezulu

'The International Monetary Fund has said the global economy's recent recovery may not last, despite a pickup in activity in all western countries except the UK.

Marking the 10th anniversary of the onset of the financial crisis, the IMF said in its World Economic Outlook (WEO) there was a risk that governments could be lulled into a false sense of security by booming markets and policymakers needed to guard against complacency.'

https://www.theguardian.com/business/2017/oct/10/global-economic-recovery-may-not-last-warns-imf-international-monetary-fund

Actually . . . there was no recovery. Debt was created willy nilly, to 'paper over the hole.'

Actually . . . the GFC is a decade old, but has barely begun.

indiamikezulu

Let's just call it 'The Big Split.' Going one way,  countries like Sweden and Vanuatu and Japan _integrating_ cryptos. Going the other way, countries like China and South Koread and Nepal and Russia _banning/constraining_ cryptos.


Ooooh -- and look: https://www.reddit.com/r/Bitcoin/comments/75tm44/just_got_a_call_from_my_bank_demanding_i_tell/

indiamikezulu

#261
'At a meeting hosted by the International Telecommunication Union this week, Yao Qian, the Director of the Digital Currency Research Institute under the People's Bank of China, reportedly boasted about the potential of a state-owned digital currency, while suggesting that there is an inherent lack of value anchoring public cryptocurrencies like bitcoin.'

https://www.coindesk.com/pboc-digital-currency-director-calls-centralized-state-cryptocurrency/

Talking about 'They have it in their blood' is anti-scientific twaddle; but poverty sharpens the wits. I lived for some time in a Chinese community (in northern Jakarta). These guys are shaaaaaaarp.

It's hard to imagine that the Chinese in China are gonna say, 'Bitcoin is rare and not controlled by Government. And I've watched the Chinese Communist Party mismanage everything into a smoking pile of rubble all my life; but I'll happily forget Bitcoin, and buy Chi-Gov-Coin instead!!'

indiamikezulu

#262
'Let's just call it 'The Big Split.' Going one way, countries like Sweden and Vanuatu and Japan _integrating_ cryptos. Going the other way, countries like China and South Koread and Nepal and Russia _banning/constraining_ cryptos.'

Reply 261 here

But of course it's not that simple . . .

Check out 'NuShares,' a pegged-crypto run by the Peercoin community -- https://coinmarketcap.com/currencies/nushares/

And there's Tether. And NZed.

The issue of 'pegged' cryptos (of various types) really interests me. I was a journalist in Indonesia in the late 90's, when the Government tried to stop the economy from collapsing by pegging the rupiah. It went horribly wrong before our eyes in a matter of only weeks.

Research the 'SDR.' And here's the tl;dr:

Quantitative Easing is a mammoth and continuing failure, and a range of increasingly desperate measures will be implemented, to try to keep the game going. The IMF's SDR will be a biggie, in league with Guvvy Inflato-Token. Biggie Corp Coin will be a player.

So, while some countries go pro-crypto, and some go anti-crypto, there will be, at right-angles to all this, the growing reality of 'free' versus tethered instruments/their exchanges/their markets.

indiamikezulu

'"Bitcoin just shows you how much demand for money laundering there is in the world. That's all it is. It's an index of money laundering." '

https://cointelegraph.com/news/blackrock-ceo-larry-fink-bitcoin-for-money-launderers-only


' . . . a 2015 report by the UK Treasury . . . put bitcoin "dead last" on a list of vectors for money-laundering, behind "every other payment method known to man".'

https://www.ft.com/content/1925f1ee-b04c-11e7-aab9-abaa44b1e130?mhq5j=e7

Is Fink ignorant? Or lying? I'm gonna guess lying.

Make no mistake, campers, The Big Government Anti-Crpto Attack has begun. And my outfit? IndiaMikeZulu? We've been expecting this all along; and as low as the attack might force prices down to, we're gonna scramble to buy every unit of GRS etc that we can.

Okay, it might not not be a big thing. Maybe I'm bein' a bit apocalyptic. But India, Russia, and China have all taken negative stances in just a matter of weeks, and that's a big chunk of the world!

indiamikezulu


indiamikezulu

#265
https://cointelegraph.com/news/bitcoin-altcoin-exchange-bittrex-eyed-with-suspicion-due-to-thousands-of-mysterious-account-closings

I am coolly checking this out. Will post updates here.

UPDATE: Obviously, we're cautious about reports about our pivotal exchange.

So, we have a positive message from 'Bittrex Bill,' saying that everything is okay, just some accounts having trouble with Verification. But . . . there is no doubt that there is concern on Planet Krypto: the original article is popping up in different places, and threads about 'account closures' are also popping up.

UPDATE: https://support.bittrex.com/hc/en-us/articles/115002187632-Statement-on-disabled-accounts

Gotta walk a line between healthy scepticism and poor OPSEC. We will continue to monitor the situation. If anyone has any relevant info, please post it here.

UPDATE: 'The real problem was not addressed, the lack of support and the verification error. For me, this statement is just a poor attempt to stop millions already going to binance.'

https://www.reddit.com/r/CryptoCurrency/comments/76zy74/bittrex_response/?utm_content=comments&utm_medium=hot&utm_source=reddit&utm_name=CryptoCurrency


I must say here that I did receive satisfactory assistance in the middle of the drama. However, it remains that Bittrex could have performed a million percent better in its handling of the processes -- certainly by paying someone to write a comprehensible set of instructions for Verifications!

indiamikezulu

Lonely Highway Delivery Guy

Our 'assisted merchant' project. LHDG accepts GRS. Those actually sit in our wallet. We trade for her.

She is presently 'all in,' with just over 6,000 GRS. If there's a spike in coming months, we'll sell the lot on her behalf, and wait to buy in again later.

This is one way of getting friends, relatives, and local merchants involved in cryptos.

jackielove4u

#267
Quote from: indiamikezulu on October 19, 2017, 12:16:06 PM
Lonely Highway Delivery Guy

Our 'assisted merchant' project. LHDG accepts GRS. Those actually sit in our wallet. We trade for her.

She is presently 'all in,' with just over 6,000 GRS. If there's a spike in coming months, we'll sell the lot on her behalf, and wait to buy in again later.

This is one way of getting friends, relatives, and local merchants involved in cryptos.

https://twitter.com/PexPeppers/status/920738235482902528

Go, pexpepper guys!! I recall they were selling for DOGE and other cryptos waaaaaay back.

indiamikezulu

' . . . one of the buzziest ICOs in the world. '

http://www.zerohedge.com/news/2017-10-19/worlds-largest-ico-imploding-after-just-3-months


But not anymore!

The reality here, readers, is complex. No one imagined in 2016 that ICOs would become a problem. But they have. Certainly they have sparked the latest attacks on crypto in general.

But it gives us the chance to market ourselves. We are The Non-ICO-Able! Neat and solid, and therefore attractive to, for example, a community that wanted to undertake a crypto-adoption project.

indiamikezulu

In the beginning, there were no centralised exchanges. Then quite suddenly they were the pivot of It All. And somehow, no one seemed to notice how horribly lopsided this made the crypto markets.

Then decentralised exchanges came along; but they gained little volume, which IMHO shows that crazy speculation – not mass adoption – remains the touchstone of crypto trading.

But The Next Big Phase – government intervention – is now clearly underway. So DEXs will become more attractive. And that will significantly change the process of price-discovery.

Think it over.

https://cointelegraph.com/news/will-decentralized-exchanges-replace-peer-to-peer-exchanges-completely