Cryptocurrencies Part II - No more forks for you

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YNWA14

Onbreekbaar
Dec 29, 2010
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Yes, I mean I'm aware of why it is such an influence on the market, I just don't understand why it hasn't already been replaced with something better. Bitcoin is actually pretty awful, it's just that the market relies on it so heavily right now which is the real issue (again, gateway, highest market cap because of all the money in it, etc.). I'm not saying 'let's just get Bitcoin and all of its investors out' I'm saying the people that have their money in Bitcoin should probably be moving on to something better, even if it is a gateway.
 

phisherman

Registered User
Apr 17, 2015
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Yes, I mean I'm aware of why it is such an influence on the market, I just don't understand why it hasn't already been replaced with something better. Bitcoin is actually pretty awful, it's just that the market relies on it so heavily right now which is the real issue (again, gateway, highest market cap because of all the money in it, etc.). I'm not saying 'let's just get Bitcoin and all of its investors out' I'm saying the people that have their money in Bitcoin should probably be moving on to something better, even if it is a gateway.

Bitcoin is the oldest, most resilient decentralized cryptocurrency.

Other cryptocurrencies can claim they have faster transactions but they don't have the proven stability, security and decentralization that Bitcoin has.

Basically if Bitcoin falters right now the sentiment is that cryptocurrencies don't work.
 

Fledgemyhedge

Registered User
Apr 24, 2014
2,646
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bob
Yes, I mean I'm aware of why it is such an influence on the market, I just don't understand why it hasn't already been replaced with something better. Bitcoin is actually pretty awful, it's just that the market relies on it so heavily right now which is the real issue (again, gateway, highest market cap because of all the money in it, etc.). I'm not saying 'let's just get Bitcoin and all of its investors out' I'm saying the people that have their money in Bitcoin should probably be moving on to something better, even if it is a gateway.
Hopefully a project like Fairx actually challenges Coinbase, then we'll really start to see separation from bitcoin. I have high hopes for that exchange, its based on the stellar network but should add a gateway from USD to your favorite crypto.
 
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Gardner McKay

RIP, Jimmy.
Jun 27, 2007
25,415
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SoutheastOfDisorder
Bought some WTC when the Alibaba rumors came out early this morning. I thought I'd post this here just to show that I'm not some biased hater like some people think. The only thing I'm emotionally invested in is $$$$$$$$$$ and if the Alibaba rumors are true then that means more money for me. :laugh:

upload_2018-3-6_11-57-30.png

10697501.jpg
 
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JayToad

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Mar 5, 2018
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Hopefully a project like Fairx actually challenges Coinbase, then we'll really start to see separation from bitcoin. I have high hopes for that exchange, its based on the stellar network but should add a gateway from USD to your favorite crypto.
Have you looked into Coin Metro at all? I think they could legitimately take a big portion of market share away from both Coinbase and Binance. Their token economics model is rock solid and they're focusing on being fully regulation compliant from the beginning. The thing that has me most excited is they won't charge for cashing out, you only pay the relevant bank fees. I wouldn't be surprised to see them as a top 3 exchange in terms of volume within a year.
 

What the Faulk

You'll know when you go
May 30, 2005
42,121
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One other reason why the Valentine's Day flub being an orchestrated fake makes no sense is because it seems like Walton's PR is incompetent at every turn. This is vague, and the Alibaba tweet and the medium post have been deleted, wiping out all the gains from yesterday. Naturally this is followed by the VEN kids on Reddit doing their victory dance and jumping back on the wagon.
 

Kestrel

Registered User
Jan 30, 2005
5,814
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Did something resounding and widespread happen in the crypto world the past couple of days? My GPU miners have taken a 15% dip, and my CPU miner, which was outmining both my GPU's together, suddenly took a nearly 50% hit. I'm glad I'm just recouping some costs on my computer, otherwise that would really really hurt.
 

What the Faulk

You'll know when you go
May 30, 2005
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It really is embarrassing how many people just regurgitate the shit they read on reddit like that place is ever good for a measured take. "Sinking ship", "scam", etc. If you truly think that, well, I guess that says about all that needs to be said about whether your opinions are worth reading in the future. This is literally how fake news goes viral and becomes accepted as fact by large portions of the population.
 

YNWA14

Onbreekbaar
Dec 29, 2010
34,543
2,560


For those that haven't seen this yet. I'm not sure it'd affect anyone in this thread but it could partially explain why alts have been taking a hit.
 

The Crypto Guy

Registered User
Jun 26, 2017
26,050
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:facepalm: Great job Binance. The only trusted exchange is Gemini. I take my crap off every other exchange the second I can. How people leave thousands and thousands of dollars on them is beyond me.
 

What the Faulk

You'll know when you go
May 30, 2005
42,121
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North Carolina
Here is Binance's post on their sub

We are investigating reports of some users having issues with their funds. Our team is aware and investigating the issue as we speak.
As of this moment, the only confirmed victims have registered API keys (to use with trading bots or otherwise). There is no evidence of the Binance platform being compromised.
Please remain patient and we will provide an update as quickly as possible.
Edit: Withdrawals are temporarily disabled at this time.

Emphasis mine. It really would be cool if people did not post every out of context bit of information they stumble across.
 

void

Registered User
Jan 5, 2006
27,459
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It really is embarrassing how many people just regurgitate the **** they read on reddit like that place is ever good for a measured take. "Sinking ship", "scam", etc. If you truly think that, well, I guess that says about all that needs to be said about whether your opinions are worth reading in the future. This is literally how fake news goes viral and becomes accepted as fact by large portions of the population.

Are you serious right now? They deleted their tweet regarding the partnership and then posted total gibberish as a follow up. That's two huge mishaps in less than a week and you're still finding ways to either defend them or attack people who have every right to be concerned.
 
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What the Faulk

You'll know when you go
May 30, 2005
42,121
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North Carolina
Are you serious right now? They deleted their tweet regarding the partnership and then posted total gibberish as a follow up. That's two huge mishaps in less than a week and you're still finding ways to either defend them or attack people who have every right to be concerned.

And their medium post (stating that there is a signed agreement) is still up. The deleted tweet is dumb and the follow up is vague, but the conclusions being drawn are so far out of proportion that it's silly that so many people believe them without a second thought. I'm not attacking people who are concerned. It's fine to be concerned. "Sinking ship" and "scam" etc. way past concerned and into pure stupidity.
 

phisherman

Registered User
Apr 17, 2015
3,322
1,039
I hope no one was affected by this Binance incident.

Since they're blaming it on APIs I don't know if they will compensate anyone that lost their coins. Not that they're obligated anyways.

But this is a huge dent on Binance.
 

void

Registered User
Jan 5, 2006
27,459
1,685
And their medium post (stating that there is a signed agreement) is still up. The deleted tweet is dumb and the follow up is vague, but the conclusions being drawn are so far out of proportion that it's silly that so many people believe them without a second thought. I'm not attacking people who are concerned. It's fine to be concerned. "Sinking ship" and "scam" etc. way past concerned and into pure stupidity.

No, I think the conclusions being drawn are very fair for now. If you can still trust them this after this then good on you, I guess.
 

void

Registered User
Jan 5, 2006
27,459
1,685
:facepalm: Great job Binance. The only trusted exchange is Gemini. I take my crap off every other exchange the second I can. How people leave thousands and thousands of dollars on them is beyond me.

Nah, Binance is still good. There's always a risk when using APIs since you're basically giving up control of your account to a third-party software. It sucks for those affected but you have to be prepared for that when taking such risks.
 

The Crypto Guy

Registered User
Jun 26, 2017
26,050
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Nah, Binance is still good. There's always a risk when using APIs since you're basically giving up control of your account to a third-party software. It sucks for those affected but you have to be prepared for that when taking such risks.

I'm not too familiar with API's so I jumped to conclusions with Binance, but why in the heck would ANYONE trust a 3rd party software with so much money?
 

YNWA14

Onbreekbaar
Dec 29, 2010
34,543
2,560
Yeah this isn't Binance's fault at all. It's about people that gave away their API keys to outside sources. Unfortunately it affects all of us because of the selling/FUD. Binance is addressing it very quickly and staying in contact with the community. Can't do much about herd mentality though.
 
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