All the #cryptocurrency discourse of late has me thinking back to the early days (9/21/11) of #OWS, when I rolled into #Zuccotti with this sign and a #Bitcoin shirt...
Flash forward 6+ years. What're the most #cooperatively designed and oriented #crypto projects right now that contribute to building a financial system that works for everyone?
Re @ParityTech's blog [1], my stance is as it is with #Bitcoin, if the /Core devs/ of the platform (geth inc.) are able to reach rough consensus (defined here: [2]) around the issue, then I support it, otherwise I do not.
@perspicacious01 Currently, #Bitcoin is rapidly heading toward #gold_rush status. Everyone floods into an area, hoping to dig up enough gold nuggets to become rich. Right now, people are flooding into #BTC, hoping to buy and hold a little #cryptocurrency long enough to sell it for enough money to become rich.
@perspicacious01 What do you mean when you say #Bitcoin is "secure"? Theft resistance? Tell that to the people whose #BTC was stolen from various #cryptocurrency exchanges. Resistance to manipulation? A few very large mining pools could very well conspire to manipulate it. Somewhere North of 50% of total mining/hashing volume, they could do whatever they wish without anyone being able to resist.
@perspicacious01 Oh, #Bitcoin _is_ volatile. Even if the general trend for the past year or so has been up, there have been some spectacular drops in that time. But if #BTC is proven to have any real value, it will have to come from being a medium for transactions, not as a playground for high-stakes gambling.
@perspicacisous01@quitter.se Oh, #Bitcoin _is_ volatile. Even if the general trend for the past year or so has been up, there have been some spectacular drops in that time. But if #BTC is proven to have any real value, it will have to come from being a medium for transactions, not as a playground for high-stakes gambling.
"Please invest responsibly — an important message from the Coinbase team"
The cryptocurrency exchange #Coinbase sent out a message to their users recently, advising people not to become too heavily invested in #BTC.
"We also wanted to remind customers of some of the risks associated with trading digital currency. Digital currencies are volatile and the prices can go up and down. Due to the rapidly changing price of digital currencies, some customers may not have sell limits that are sufficient relative to the value of total digital currency they are storing on Coinbase. Sell limits are one of the many measures Coinbase takes to protect client accounts and assets."
I guess they are worried about "irrational exhuberance" behind the current rise in the price of #Bitcoin. !cryptocurrency
Nakamoto wanted to create a system for #payments that would circumvent governments, bankers, and corporations. Instead, Bitcoin is now a get-rich-quick scheme that retains none of the exciting, anarchist features it proposed and has created a secondary #economy with financial shenanigans that mirror the ones that led to the global financial crisis."