0wing

10 ms·

31.
by 0wing 9y ago
Tether is looking a lot like Liberty Reserve, and that ended in seizure of assets. https://en.wikipedia.org/wiki/Liberty_Reserve#2013_seizure
32.
by 0wing 9y ago
If Tether is a "scam" backed by nothing, why would other Cryptocurrencies be more valid? It's just software.
33.
by 0wing 9y ago
The SEC has a dedicated "Cyber" unit which targets Cryptocurrencies https://www.sec.gov/news/press-release/2017-176
34.
by 0wing 9y ago
You're assuming the severity of this news would not cause Tether to devalue while BTC holders exit into real USD or fiat instead of Tether.
35.
by 0wing 9y ago
Also consider nearly all of Bitcoin and other cryptocurrencies are "premined" in the sense that only a few early adopters control more then half the supply due to how the work readjustment algorithms are skewed to generate all the
36.
by 0wing 9y ago
Which account holders? No one has provided proof of withdraw from Bitfinex USD or Tether since they've gotten kicked out of their banks. Recent wires from Bitfinex have been associated with a rural bank in Poland which is normally only
37.
by 0wing 9y ago
Proof of Stake algorithms so far amount to various rationalizations on giving the wealthiest users more wealth. To explain further, PoS blockrewards are settled as lotteries to stakeholders with each staked coin being granted a lottery tick
38.
by 0wing 9y ago
1. The attack the MIT team developed on IOTA was a way to efficiently brute force wallet key combos to forge transactions of funds. 2. Every other cryptocurrency has implemented the seed generator as it's the most basic and fundamental
39.
by 0wing 9y ago
1. The vulnrability existed in their active codebase and network - only AFTER the research team contacted IOTA with the working exploit did they shut the entire (centralized) network down to patch the code. “In 2017, leaving your cryp
40.
by 0wing 9y ago
Ok that's a fair point.
41.
Why I find IOTA alarming(medium.com)
145 points by 0wing 9y ago|124 comments
42.
by 0wing 9y ago
IOTA designers decided to leave out the seed generation function of their software, which predictably let 3rd parties like the one in the article create a malicious seed to exploit the platform. Every other cryptocurrency software can facil
43.
by 0wing 9y ago
If you read the article you would see it's about IOTA. More importantly, IOTA never implemented seed generation into their native client software. With this being THE central function to their entire platform, one has to question the p
44.
by 0wing 9y ago
There's something very poetic about this, as the similarities of diamond cartels [1] and cryptocurrencies [2] effectively granting a small amount of people the control the majority of supplies of artificially constrained assets both of
45.
by 0wing 9y ago
IOTA has been notoriously famous for rolling their own flawed hash function which allowed researches to develop a working PoC for hash collision attacks. https://medium.com/@neha/cryptographic-vulnerabilities-in-io...
46.
by 0wing 9y ago
Except you can't get usable fiat out? There needs to be an endpoint distributor of physical cash, SWIFT, or wire transfers of real fiat and those end points are subject to regulation just like localbitcoins or ATM machines are subject
47.
by 0wing 9y ago
Isn't that just what Kraken or Coinbase already does? Someone needs to be the operator of exchange between fiat and crypto, at which point they and you will be subject to tax and regulation. Anyone who operates an exchange is subject t
48.
by 0wing 9y ago
The difference is crypto is a chance to get in at the top for once. Not if you buy other cryptocoins like Bitcoin or Ethereum that someone else created for nothing to sell to bagholders. All you're doing there is becoming a
49.
by 0wing 9y ago
These are common misconceptions from speculators. 1. Crypto-assets like Bitcoin/Ethereum/Steller/Ripple, etc, are created simply by typing some numbers into a piece of software. There's no underlying value, it's a n
50.
by 0wing 9y ago
One person can control many addresses. If the supply is produced in a limited time frame, then the limited amount of people who had accesses to production will control the supply.
51.
by 0wing 9y ago
That doesn't mean anything. Bitcoin network bandwidth remains the same, and energy usage has continued to increase in a race to the bottom in terms of work and waste for bitcoin mining - this is by design of how Satoshi's difficu
52.
by 0wing 9y ago
Why not target oil/coal/all energy sources to remove the obvious bias?
53.
by 0wing 9y ago
The first result of a search reveals a bot to automate Raiblock captcha style PoW. https://www.youtube.com/watch?v=3YR8eebMTF0 8,254 views It sounds like Raiblock production/minting/distribution is finalized? How
54.
by 0wing 9y ago
Best estimates are that there are about one million holders of Bitcoin; 47 individuals hold about 30 percent, another 900 hold a further 20 percent, the next 10,000 about 25% and another million about 20%, with 5% being lo
55.
by 0wing 9y ago
There's no "investing" in crypto-assets. Investing means you would make money from the activity of an underlying enterprise, but with cryptocoin software you're simply buying a number in a database that someone else alre
56.
by 0wing 9y ago
If you confuse cryptocoins with stocks and shares in Companies with real world assets and obligations like Apple you're in for a dear surprise. Cryptocoins are reproducible software databases. Production and minting of the supply is tr
57.
The Fat Controller of the Lightning Network(coppolacomment.com)
4 points by 0wing 9y ago|0 comments
58.
by 0wing 9y ago
Your posts contribute nothing. Shortest path requires publishing all nodes and connections. What if nodes go offline? How fast will the LN algorithm reroute? Does this mean everyone must connect to the Winkevoss/Bitmain/WellsFargo
59.
Animal spirits (Behavioral economics, Keynes)(en.wikipedia.org)
1 points by 0wing 9y ago|0 comments
60.
by 0wing 9y ago
??? The routing problem of internet nodes: the internet is not a physical space so tell me how do you measure distance between nodes? To which you have no answer. As stated in the OP: LN can't solve the TSP without either

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