At least meth is good for some things, like flying into rages and losing all your teeth. Crypto ain’t good for nothin’.
haha, Celsius bankrupcy continues to deliver!
Bankruptcy filing incudes Statements of Financial Affairs that essentially doxxes 14,000 pages of transactions with real user names!
Doesn’t everyone’s banks get taken for a $100 million now and then?
All these techs keep using the word “smart” when it seems they are anything but.
JoshL
4037
An exploit on a cross-chain bridge, BSC Token Hub, resulted in extra BNB.
I am pretty convinced that anything described as a “bridge” is going to be a security problem, and will eventually be hacked in some way.
The thing about blockchains is, all you can do is move coins back and forth between wallets on the chain. You literally can’t exchange, say, BTC for ETH, because they are on different chains. All you can do is make some agreement that says “I’ll move X BTC from my wallet to yours, and you will move Y ETH from your wallet to mine”. But there’s no way to enforce that.
That’s the problem that all these “cross-chain bridges” are trying to solve. But they will all eventually fail, because somebody has to go first, and then there’s no force that can make you sign a transaction for the other chain. And even if you did something like make both parties submit signed transactions ahead of time, there’s still a million things that can go wrong – one party could empty their wallet before the transaction can go through. The bridge can be attacked. And so on and so on. It can’t work 100% of the time.
It’s just another case where, even if you grant that the blockchain does everything it claims to do, in order to actually do anything useful, you have to do some parts of the transaction outside of the blockchain, which makes all the guarantees of the blockchain itself worthless.
rei
4038
The crypto bros are shocked that this public court document has invaded their so called privacy.
That’s pretty insightful. I am honestly surprised that BTC is still trading around $20K.
antlers
4040
I saw an explanation for the 20k floor-- essentially it is around the average price paid by current holders, so there is no incentive at that price to cash out and take your profits.
Ah, OK. That had been bothering me for months. The fact that Bitcoin has stayed basically flat all summer and fall was bizarre to me: it seemed like Bitcoin should either be increasing in USD value (because of the deflationary design of Bitcoin and inflation of the dollar) or going to zero because, you know, it’s useless imaginary nothingness.
But the idea that holders are reluctant to sell below what they bought in at makes sense. Or rather, it doesn’t make sense: it’s the sunk cost fallacy. But given our stupid monkey brains, it’s believable psychologically.
Hahaha. I didn’t even know this was a thing
Aceris
4043
My assumption is that there is a certain level of cashflow into the bitcoin system due to crime, and this plus market manipulation at the exchanges has been enough to hold the 20k floor.
Tim_N
4044
People who bought those NFTs aren’t happy (although that’s probably true of all people have bought NFTs):
Ha ha ha. It was an investment? Well all investments carry risk, so too bad, so sad you were unable to sell to a greater fool before the bottom fell out of the virtual tulip bulb market.
Scuzz
4046
So I probably have a few hundred dollars in change. I looked at the coin counter machine at the grocery store and it charges nothing if you put the money towards certain gift cards or towards, I kid you not, bitcoin or crypto.
Musk and Binance - they definitely deserve each other:
JonRowe
4048
Ah yes, Twitter definitely needs the “blockchain” for reasons.
Reddit kudos, but something something cryptocurrency blockchain!
antlers
4050
Twitter was pretty gung-ho about crypto before Elon, implementing that silly hexagonal NFT avatar thing.
UK listed bitcoin miner looks to be about to go bust:
To the moon!
