Crypto Currency Thread
Discussion
JustinF said:
Nice uptick today, any thoughts on why?
Maybe the start of some institutional money? I keep hearing of a big move into crypto later in the summer but quite frankly I don't know what to believe! I'm just buying the coins I really believe in and trying not to get drawn into unfounded hype (easier said than done!).Word is that was the biggest one hour volume rise in the entire history of bitcoin. Nobody knows why. I've heard "because technical". Thought for a minute & still think nobody yet knows why. Journalists will be picking from a variety of random reasons until they focus on one random reason.
Bought a little more LTC today, lowering my DCA. Most cryptos seem to have held that support level for a couple of weeks which in this industry is amazing 
I suspect the rise is the feelers of institutions going out. No doubt they will pull out and drop us back to where we were.
If that happens it will have only cost me a few dollars.
I suspect the rise is the feelers of institutions going out. No doubt they will pull out and drop us back to where we were.
If that happens it will have only cost me a few dollars.
AmosMoses said:
I suspect the rise is the feelers of institutions going out. No doubt they will pull out and drop us back to where we were.
If that happens it will have only cost me a few dollars.
If it was a huge short squeeze (seems plausible, exhaustion of sellers, many liquidations) then it won't have legs.If that happens it will have only cost me a few dollars.
Behemoth said:
Word is that was the biggest one hour volume rise in the entire history of bitcoin. Nobody knows why. I've heard "because technical". Thought for a minute & still think nobody yet knows why. Journalists will be picking from a variety of random reasons until they focus on one random reason.
Agreed. Technical shmechnical. Journalists don't have a clue. When I was in the city trading FX derivatives and some whale bought a shed load of derivative or currency, moving the market, the next day the FT would report it was due to Spanish GDP moving 0.1 or whatever. No it wasn't, some black box told our customer to buy so he bought, the market moved.FX markets are some of the deepest financial markets in the world, yet one player can move it a significant amount. It will be many orders of magnitude easier to move BTC by one 'whale' because he got stopped out or whatever reason we'll never know.
Behemoth said:
Mousem40 said:
Even the founder of Zcash (Zooko Wilcox) in an interview recently admitted the NSA could still break through their privacy.
ZCash is flawed because anonymity is optional. The default is off & some wallets don't even support anonymity (it is computationally expensive). It's thus pretty easy to trace those choosing anonymity because there's a very high likelihood of the anonymity in a transaction chain being broken. This provides the evidence needed to pick up the thread on other anonymous transactions & link them. In effect, much less than 1% of ZCash txs are actually anonymous.1) Because the percentage of shielded transactions is low, deductions about the shielded transactions can be made just by looking at the transparent transactions - rather like a Sodoku, but when the uptake of shielded transactions increases, then that should be much more difficult.
2) Institutions such as the NSA (as revelaed by Snowdon) can, when snooping on BTC transactions, also find out the users password, MAC addresses, internet addresses, network ports and time stamps. Zooko admitted the exact same could be done on Zcash shielded transactions (if your network and device is unsecure) and the only difference being that Zcash (when compared to BTC) is it avoids putting cleartext information on the blockchain. He then went on to dismiss the threat of the NSA being a problem and reiterated that the main use of Zcash is for business use etc.
Matthew Green (founding Zcash scientist and cryptographer) said Privacy is 'Totally worthless' The problem is that all the network connections need to be made secure as well.
He admitted that Zcash's biggest uses so far have been to speculate on i'ts value (no need for anonymity with those trades) and mining (for profit) again no need for anonymity when collecting block payouts.
Edited by Mousem40 on Friday 13th April 11:45
Mousem40 said:
Matthew Green (founding Zcash scientist and cryptographer) said Privacy is 'Totally worthless' The problem is that all the network connections need to be made secure as well.
Indeed. Snowden knows well that one small mistake gives the cat a clear flag to run to and I think that'll be the main weapon employed against privacy.Aside all this, three further fundamental problems:
1/ zk-SNARKS is untested
2/ Zooko is clearly the project lead & makes the whole enterprise vulnerable to attack from state actors. A truly decentralised cryptocurrency should have no leader and no single point of failure.
3/ Other approaches can usurp zcash. See MimbleWimble, Grin, bulletproofs.
Forensic data analysis will make headway & this will always be a cat & mouse exercise.
So it wasn't an exit scam, Verge partnered with Pornhub!...
Dumping already, anyone brave enough to short it?
Edit: Bit premature.... this wasn't the official partner. There's been another pump since.
The 'real' partner should be announced at 3pm, so should see the real dump then.
Dumping already, anyone brave enough to short it?
Edit: Bit premature.... this wasn't the official partner. There's been another pump since.
The 'real' partner should be announced at 3pm, so should see the real dump then.
Edited by syko89 on Tuesday 17th April 14:28
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