Crypto Currency Thread

[peterperkins]

Quadriga founder death locks up $140million..

https://www.bbc.co.uk/news/world-us-canada-4712337...

All stored on one encrypted laptop apparently..
Password anyone..

Or has it all been nicked?

[98elise]

dimots said:

98elise said:

Could you point out the amazing apps in the article?

Lightning Publisher For WordPress.

Filebazaar

All the tipping apps...

What's amazing about them? Aren't they just fairly average apps that use crypto? What' problem are they solving?

We're out for family meal on Saturday and there are at least 2 ways I can easily tip the waiter (cash or on the bill), and a few more difficult P2P options (PayPal for example)

[DonkeyApple]

peterperkins said:

Quadriga founder death locks up $140million..

https://www.bbc.co.uk/news/world-us-canada-4712337...

All stored on one encrypted laptop apparently..
Password anyone..

Or has it all been nicked?

Various musings as to whether the money was ever there and that the exchange was a Ponzi to the chap doing a Reginald Perrin. Even if the money does still exist in a wallet that is controlled by the business it highlights to totally farce of amateur cowboys being in charge of people’s money and the army of idiots who empower them by throwing money away.

Googling ‘crypto scam’ throws up a deep history of such issues as it always does for any unregulated or poorly regulated financial product. All exactly the same set of pathetic stories just with different names.

[dimots]

98elise said:

What's amazing about them? Aren't they just fairly average apps that use crypto? What' problem are they solving?

We're out for family meal on Saturday and there are at least 2 ways I can easily tip the waiter (cash or on the bill), and a few more difficult P2P options (PayPal for example)

How can you tip me in return for educating you on this issue? I don't want you to know who I am, I can't meet in person, but I won't tell you without a tip. I only want 10p. Can you think of a solution?

[Condi]

dimots said:

How can you tip me in return for educating you on this issue? I don't want you to know who I am, I can't meet in person, but I won't tell you without a tip. I only want 10p. Can you think of a solution?

But for 99.99% of the population, this simply isnt an issue.

Firstly, nobody bothers with transactions that small, and secondly, why would I pay you at all when there is free information all over the internet? Finally, if I dont know who you are, why would I trust you to educate me? How do I know you know anything about what you claim to?

Its a solution looking for a problem.

[Guvernator]

Micro tipping is a real thing. Just watch any popular streaming service for games, car videos, adult cams etc which is a perfect use case for anonymous micro tipping.

Just because you can't think of them, does't mean they don't exist.

[dimots]

Condi said:

But for 99.99% of the population, this simply isnt an issue.

Firstly, nobody bothers with transactions that small, and secondly, why would I pay you at all when there is free information all over the internet? Finally, if I dont know who you are, why would I trust you to educate me? How do I know you know anything about what you claim to?

Its a solution looking for a problem.

It is. Wow haha...crazy to read something like that...when you say 'nobody bothers with transactions that small' I think "market opportunity". Your choice. Wrong.

[Condi]

dimots said:

It is. Wow haha...crazy to read something like that...when you say 'nobody bothers with transactions that small' I think "market opportunity". Your choice. Wrong.

Market opportunity?

Maybe, but I cant say I've ever felt the want to receive a 'micro-tip', nor have I ever wanted to give a 10p tip. Does that make me crazy? No.. it makes me normal.

Even a Freddo is 60p now.....

[x5x3]

DonkeyApple said:

it highlights to totally farce of amateur cowboys being in charge of people’s money and the army of idiots who empower them by throwing money away.

Googling ‘crypto scam’ throws up a deep history of such issues as it always does for any unregulated or poorly regulated financial product. All exactly the same set of pathetic stories just with different names.

like this never ever happens in "regulated" markets

[Guvernator]

Condi said:

Market opportunity?

Maybe, but I cant say I've ever felt the want to receive a 'micro-tip', nor have I ever wanted to give a 10p tip. Does that make me crazy? No.. it makes me normal.

Even a Freddo is 60p now.....

I've just given you several examples of how micro tipping could potentially be a huge thing and has several, massive, ready made markets already. Once again just because you don't know about it, doesn't mean it doesn't exist.

[dimots]

Condi said:

Market opportunity?

Maybe, but I cant say I've ever felt the want to receive a 'micro-tip', nor have I ever wanted to give a 10p tip. Does that make me crazy? No.. it makes me normal.

Even a Freddo is 60p now.....

Well the price of Freddos is a cause for concern for me also, but I don't quite get the relevance here.

There's an old article here https://cyber.stanford.edu/privacymicropayments

The opportunities for tipping are enormous. Tipping apps and browser extensions make it possible to send amounts as small as a fraction of a penny or as large as...well...as large as you like...just by typing 'tip xxx'.

[DonkeyApple]

x5x3 said:

DonkeyApple said:

it highlights to totally farce of amateur cowboys being in charge of people’s money and the army of idiots who empower them by throwing money away.

Googling ‘crypto scam’ throws up a deep history of such issues as it always does for any unregulated or poorly regulated financial product. All exactly the same set of pathetic stories just with different names.

like this never ever happens in "regulated" markets

Exactly, hence why I mentioned poor regulation. Regulation exists precisely because it is human nature to steal and scam and for fools to willingly throw money away. Regulation is an essential necessity and that is why regulated money and activity has a cost that precludes micro payments. It is categorically not due to technology barriers. And beyond a very low wealth level consumers demand and expect regulatory protections.

Only people who don’t actually understand what money is, it’s history or how it functions desire zero regulation or anonymity. Apart from the new breed of Freemen of the Land who are as idiotic as the last lot in their extremist beliefs.

[x5x3]

DonkeyApple said:

x5x3 said:

DonkeyApple said:

it highlights to totally farce of amateur cowboys being in charge of people’s money and the army of idiots who empower them by throwing money away.

Googling ‘crypto scam’ throws up a deep history of such issues as it always does for any unregulated or poorly regulated financial product. All exactly the same set of pathetic stories just with different names.

like this never ever happens in "regulated" markets

Exactly, hence why I mentioned poor regulation. Regulation exists precisely because it is human nature to steal and scam and for fools to willingly throw money away. Regulation is an essential necessity and that is why regulated money and activity has a cost that precludes micro payments. It is categorically not due to technology barriers. And beyond a very low wealth level consumers demand and expect regulatory protections.

Only people who don’t actually understand what money is, it’s history or how it functions desire zero regulation or anonymity. Apart from the new breed of Freemen of the Land who are as idiotic as the last lot in their extremist beliefs.

You seem to be ignoring the fact that people still get scammed in regulated markets - I've lost far more money to regulated scams like Lehman Brothers than crypto.

[DonkeyApple]

How have I ignored that when I’ve mentioned it quite clearly!!?

[dimots]

DonkeyApple said:

Exactly, hence why I mentioned poor regulation. Regulation exists precisely because it is human nature to steal and scam and for fools to willingly throw money away. Regulation is an essential necessity and that is why regulated money and activity has a cost that precludes micro payments. It is categorically not due to technology barriers. And beyond a very low wealth level consumers demand and expect regulatory protections.

Only people who don’t actually understand what money is, it’s history or how it functions desire zero regulation or anonymity. Apart from the new breed of Freemen of the Land who are as idiotic as the last lot in their extremist beliefs.

Regulation in itself is not necessary. It's mostly stupid and it's fking everything up. Suggesting that 'poor regulation' is bad and 'good regulation' is good doesn't make sense either.

Transparency and accountability is necessary. I feel that maybe, if it existed, some kind of permanent ledger of every transaction that tracks the funds but not the individual would help in that respect.

[alistair1234]

Interesting

[98elise]

dimots said:

98elise said:

What's amazing about them? Aren't they just fairly average apps that use crypto? What' problem are they solving?

We're out for family meal on Saturday and there are at least 2 ways I can easily tip the waiter (cash or on the bill), and a few more difficult P2P options (PayPal for example)

How can you tip me in return for educating you on this issue? I don't want you to know who I am, I can't meet in person, but I won't tell you without a tip. I only want 10p. Can you think of a solution?

That's a very unusual use case and not one I think I will ever need, so its a solution looking looking for a problem. Imagine pitching it to Dragons Den. How many would think it amazing?

[Guvernator]

98elise said:

That's a very unusual use case and not one I think I will ever need, so its a solution looking looking for a problem. Imagine pitching it to Dragons Den. How many would think it amazing?

Despite the fact that several people including myself have already highlighted some very good use cases for micro-tipping. It seems the "crypto believers" aren't the only one's with strong beliefs, the cult of the non-believer is just as strong.

[kev1974]

alistair1234 said:

Interesting

The guy that "died" in India, apparently with everything of importance on the one laptop. Is there actually a body? Has anyone official (i.e. not his wife or colleagues) confirmed they've seen it and identified it as him?

[g4ry13]

Apparently death certificates in India aren't very expensive to buy. Certainly not very much for someone sitting on $100+ million.