Topic: Anyone else interested in cryptocurrency?

[selmiak]

not the press crypto needs to rise again:
https://www.technologyreview.com/s/612974/once-hailed-as-unhackable-blockchains-are-now-getting-hacked/

I like crypto, but this is alarming. When people lose interest and miners stop mining some obscure crypto currency the rest of the people that are just using, investing or holding that currency are at risk.
As the article states, you'd need $260,000 per hour to attack the bitcoin blockchain with the 51% attack (at the moment), but this was ethereum classic, that is still widely used.

Though BTC did rise from $3550 to $3900 since the 18th. But in the next 5 days is will fall again?!

[milkanannan]

Very cool article. Thanks for sharing.

It's really hard not to draw parallels to the crap early days of other internet based services. I remember in the 90s figuring out really obvious ways to hack into my friends' geocities accounts or even things like gaming early pay per click services. I appreciate your skepticism, and I'm trying not to be stupidly optimistic, but as the article reports: each hack did indeed have a fix. Maybe some of the fixes weren't pretty (i.e. forking ETH and telling everyone to be cool with it  ), but in the end the technology gets incrementally better. 51% takeovers of some of the less popular tokens are going to be extremely painful, extremely costly lessons, but the machinery of cryptocurrency will carry on in a slightly more specific form, and at some point a small handful of winning projects (or maybe just one project) will emerge.

One thing that gave me a laugh in the article is the rise of these new auditing technologies for crypto. I mean, crypto nerds used to espouse how projects like Bitcoin would pull humanity completely away from traditional banking and now you need a blockchain based auditing service. 

[milkanannan]

Here we go again, guys and girls. Almost $8900 USD about an hour ago!

[milkanannan]

To what degree do you guys think Libra has influenced this recent price surge?

[milkanannan]

Wow like $100B USD pulled out of BTC and price has dropped to $5300 per Bitcoin. Guess it is clear that the world still sees Bitcoin as speculative and not a true store of value.

[KyriakosCH]

One should be always wary of Bogdanoff 

[Jack]

Bogdanoff? Interesting.

Can you give me a quick rundown?

[KyriakosCH]

I don't know much about the real Bodganoff(s). Apparently they are twins, who had heavy plastic surgery and are very rich.
But in the meme (as in the video above) they have absolute control of bitcoin.

[milkanannan]

$17K+ now. Probably on account of the mess over US transfer of power? Perhaps we will see a huge dive in the not too distant future as things settle down.

[milkanannan]

Perhaps we will see a huge dive in the not too distant future as things settle down.

$30K+
So I was a bit wrong.
I'll let myself out.

[milkanannan]

$50K+ thanks to Elon and Bitcoin ETFs~

[Moriya_17]

If I knew that the friend I laughed at when he bought some bitcoin in 2010 was right all along... Well, he sold it earlier on, because he'd be a millionaire right now otherwise, but it still got him a nice new car, while I was left with as much as I invested in BTC back then: nothing  had I listened to him, I'd be the one investing in commercial property in Barcelona, not the one writing the market analysis for the investor...