AMC movie ticket with dogecoin.
BITCOIN
- Thread starter Weather Man
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AMC movie ticket with dogecoin.
I don’t know what a gate Io account is.
So you can’t use USD for purchases on your gate account?
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Correct... I'll go 1 better and give you my most pessimistic take.
It has a diehard true cult like following.
And if I've learned 1 thing in life, you see a financial cult... you hold your nose and buy.
Same with Tesla and Elon.
It has a diehard true cult like following.
And if I've learned 1 thing in life, you see a financial cult... you hold your nose and buy.
Same with Tesla and Elon.
I’m not saying it’s a cult.
I’m just saying your stated usefulness is make believe.
You really like it because of the potential profit.
If it was worth one dollar you wouldn’t give two shits and I’m sure you can buy whatever it is on whatever account with USD.
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Wtf is a gate account!?
It looks like it’s just another coin exchange.
I’m asking for REAL world use.
Not to make Coins.
Not to trade coins.
Nothing to do with coins other than using it as money.
Do you understand the question?
Give me an example of something where you can’t do it with USD.
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That is a real world use example.
You need to separate from comparing to USD for anything other than current market value.
Maybe i don't understand the question. You're kind of asking how to use a blockchain for something that has nothing to do with a blockchain?
You need to separate from comparing to USD for anything other than current market value.
Maybe i don't understand the question. You're kind of asking how to use a blockchain for something that has nothing to do with a blockchain?
It is really confusing what his objective is.
A lot of people think Crypto is a fad that will die off like beanie babies (some in here have even likened the two).
Imagine being the person that scoffed at email. "Why do I need to use a computer to send a letter instantly when I can send it through the mail instead? Give me one use case where email did something that the mail system couldn't provide."
Lol
A lot of people think Crypto is a fad that will die off like beanie babies (some in here have even likened the two).
Imagine being the person that scoffed at email. "Why do I need to use a computer to send a letter instantly when I can send it through the mail instead? Give me one use case where email did something that the mail system couldn't provide."
Lol
I believe (could be wrong) the thought is to be able to buy stuff anywhere in the world with access to that exchange. For example, go to another country (or online) to buy a car. Rather than having to buy / exchange currencies, you can just pay with btc. I have heard of people being able to buy other items with btc. Your point of the benefit it has over usd is the access to worldwide purchases at your fingertips. The need for 30 or so coins? No idea.
I just assume you are a troll at this point. You don't like and will never buy it. Nothing said in this thread will change that. What is the point you are trying to make and why do you care that other people are buying something that you don't like?
Lex Friedman just did a podcast with Brian Armstrong ( CEO of coin base )
I’d venture many to check it out
I’d venture many to check it out
Crypto startup Nomad drained of almost $200M in bridge hack
Aug. 02, 2022 11:52 AM ET5 CommentsNomad, a bridge protocol used for moving cryptocurrencies across different blockchains, has lost nearly $200M from hackers in a security exploit.
The attack on Monday comes on the heels of a slew of similar high-profile events resulting in increased concerns about the evolving decentralized finance space.
"We are working around the clock to address the situation and have notified law enforcement and retained leading firms for blockchain intelligence and forensics," the startup wrote in a Twitter post Tuesday.
In the cryptoverse, a bridge ultimately connects two blockchains allowing users to send crypto from one chain to another, instead of transacting on a single blockchain, which can prove to be costly if there's a high level of activity.
In Nomad's case, its bridge service locks up tokens in a smart contract on one chain followed by a reissuance of those tokens in "wrap" form on the other chain (think of wrapped bitcoin (WBTC-USD)). The wrapped coins are backed by reserves, which are generally a common target for hackers especially if the bridges are subject to vulnerabilities.
So, what happened? Following a recent update to Nomad's smart contract, users were enabled to withdraw more assets than were put in in the bridge, Sam Sun, a research partner at crypto investment firm Paradigm, wrote in a Twitter post Monday.
"A routine upgrade marked the zero hash as a valid root, which had the effect of allowing messages to be spoofed on Nomad, Attackers abused this to copy/paste transactions and quickly drained the bridge in a frenzied free-for-all," Sun explained.
The Nomad hack was "one of the most chaotic hacks that Web3 has ever seen," Sun added.
Nomad did not immediately respond to a request for comment by Seeking Alpha.
Towards the end of June. Harmony blockchain disclosed $100M theft from Horizon crypto bridge.
- The US Treasury sanctioned Tornado Cash, a cryptocurrency platform used by criminals for obscuring origins of funds.
- As of Monday, all US entities or persons are barred from using Tornado Cash.
- North Korea cyber-criminals have laundered $1 billion in crypto through this platform, TRM Labs said.
Interesting!!
Crypto Mania
The world is subject to a new “Mass Madness” or madness of the crowd. The current “Mass Madness” of our world, in the 21st century, is – without a doubt – its fascination with Bitcoin and fellow “cryptocurrencies”.
It is utterly pointless to argue with those who are subject to the delusion because it is an impenetrable delusion.
A large part of our world, especially in “more developed countries”, is under the spell of this madness, due to the publicity it has received via the Internet.
Bitcoin and others are true technological wonders, there is no doubt about that. Among other things, because of their security, confidentiality, ubiquity at any time, wherever the Internet is available.
Bitcoin c.s. have caused mind-boggling phenomena never before manifested among mankind. This stems from the fact that Bitcoin c.s. is not related to anything tangible, yet it is instantly accessible in the world on the Internet. Bitcoin c.s. is psychologically related to magic, which gained a large following in bygone times.
While belief in Bitcoin is a positive hope for the safe possession of personal wealth, associated with excessive growth, belief in witchcraft supports fear and repulsion. But in essence, these are “popular delusions”.
Bitcoin raises hopes of monetary security and the desire for rapid growth in personal monetary fortune. While witchcraft inspires fear of evil spirits. Both Bitcoin and Witchcraft have no relationship to personal merit or personal failings; by which is meant that with Bitcoin you can imagine yourself rich without having done a single bit of productive work or created a productive idea. Whereas with fear of witchcraft you can harbor unfounded fears without any reality.
However what Crypto investors don’t understand; these currencies are initiated by central banks as an overflow outlet for their excess of necessary money printing, similar to the asset and real estate markets. The increase in paper value is phantom imagination.
To put Bitcoin c.s. in the context of “Popular Delusions” and “mass idiocy”, the whole madness is based on greed, or money mania. Some historical examples support this thesis. Such as; the South Sea Bubble, Tulip Mania, Soothsaying, Influence of politics and religion, Crusades, etc.
During the tulip mania in the 17th century, one bulb could buy a mansion on the Keijzergracht in Amsterdam!
In today’s 21st Century, humanity has been subjected to the greatest “Folk Madness” ever recorded in thousands of years of cultural history.
Bitcoin c.s. have placed a monetary value on the possession of electronic digits – so that possession protects the owner of a Bitcoin, or a tiny fraction of a Bitcoin, from theft.
A Bitcoin worth $50,000 is yours, yours alone, and cannot be stolen from you. And your Bitcoin could be worth a lot more in the near future. What is against that?
The big question, which is never talked about; is “What is Bitcoin worth?”
Let’s say a Bitcoin is quoted at US$50,000. A large sum.
But objectivity demands, “Define a US dollar, or any other currency that currently exists in the world.”
The correct answer is: “A US Dollar is an electronic figure, created in the USA, by an institution called the “Federal Reserve Bank of the USA.” – All other currencies are created in the same way, by Central Banks of the respective country.
All the “money” in the world today, is nothing more than electronic digits!
This looks like fraud!
The fact that millions of others do value an electronic cipher and are willing to give up Dollars – which are themselves only electronic ciphers – does not inspire one to “own” such an impertinence as a Digital Crypto currency.
What happens to the thousands of dollars that one Bitcoin is supposed to be worth the day the Federal Reserve “goes bankrupt” and ceases to exist?
Furthermore, if the dollar collapses, which it certainly will, all the other currencies in the world that are denominated in Bitcoin will also be worth nothing, because the dollar is the reserve currency for all the other currencies except the now gold-backed Russian Ruble and the Chinese Yuan.
One day, a book will be published on this subject; titled The Crypto Mania in analogy to the Tulip Mania!
Crypto Mania
The world is subject to a new “Mass Madness” or madness of the crowd. The current “Mass Madness” of our world, in the 21st century, is – without a doubt – its fascination with Bitcoin and fellow “cryptocurrencies”.
It is utterly pointless to argue with those who are subject to the delusion because it is an impenetrable delusion.
A large part of our world, especially in “more developed countries”, is under the spell of this madness, due to the publicity it has received via the Internet.
Bitcoin and others are true technological wonders, there is no doubt about that. Among other things, because of their security, confidentiality, ubiquity at any time, wherever the Internet is available.
Bitcoin c.s. have caused mind-boggling phenomena never before manifested among mankind. This stems from the fact that Bitcoin c.s. is not related to anything tangible, yet it is instantly accessible in the world on the Internet. Bitcoin c.s. is psychologically related to magic, which gained a large following in bygone times.
While belief in Bitcoin is a positive hope for the safe possession of personal wealth, associated with excessive growth, belief in witchcraft supports fear and repulsion. But in essence, these are “popular delusions”.
Bitcoin raises hopes of monetary security and the desire for rapid growth in personal monetary fortune. While witchcraft inspires fear of evil spirits. Both Bitcoin and Witchcraft have no relationship to personal merit or personal failings; by which is meant that with Bitcoin you can imagine yourself rich without having done a single bit of productive work or created a productive idea. Whereas with fear of witchcraft you can harbor unfounded fears without any reality.
However what Crypto investors don’t understand; these currencies are initiated by central banks as an overflow outlet for their excess of necessary money printing, similar to the asset and real estate markets. The increase in paper value is phantom imagination.
To put Bitcoin c.s. in the context of “Popular Delusions” and “mass idiocy”, the whole madness is based on greed, or money mania. Some historical examples support this thesis. Such as; the South Sea Bubble, Tulip Mania, Soothsaying, Influence of politics and religion, Crusades, etc.
During the tulip mania in the 17th century, one bulb could buy a mansion on the Keijzergracht in Amsterdam!
In today’s 21st Century, humanity has been subjected to the greatest “Folk Madness” ever recorded in thousands of years of cultural history.
Bitcoin c.s. have placed a monetary value on the possession of electronic digits – so that possession protects the owner of a Bitcoin, or a tiny fraction of a Bitcoin, from theft.
A Bitcoin worth $50,000 is yours, yours alone, and cannot be stolen from you. And your Bitcoin could be worth a lot more in the near future. What is against that?
The big question, which is never talked about; is “What is Bitcoin worth?”
Let’s say a Bitcoin is quoted at US$50,000. A large sum.
But objectivity demands, “Define a US dollar, or any other currency that currently exists in the world.”
The correct answer is: “A US Dollar is an electronic figure, created in the USA, by an institution called the “Federal Reserve Bank of the USA.” – All other currencies are created in the same way, by Central Banks of the respective country.
All the “money” in the world today, is nothing more than electronic digits!
This looks like fraud!
The fact that millions of others do value an electronic cipher and are willing to give up Dollars – which are themselves only electronic ciphers – does not inspire one to “own” such an impertinence as a Digital Crypto currency.
What happens to the thousands of dollars that one Bitcoin is supposed to be worth the day the Federal Reserve “goes bankrupt” and ceases to exist?
Furthermore, if the dollar collapses, which it certainly will, all the other currencies in the world that are denominated in Bitcoin will also be worth nothing, because the dollar is the reserve currency for all the other currencies except the now gold-backed Russian Ruble and the Chinese Yuan.
One day, a book will be published on this subject; titled The Crypto Mania in analogy to the Tulip Mania!
Crypto still climbing
Have you bet the ranch?
Something change? I’ve pulled profits several times.
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