anybody in IOTA?
up almost 100% since I posted it.
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Itās up 400% since last week when I first heard about (and read that the wallets they offer were having all kinds of technical issues, so most people were keeping their funds on some random exchange).
Super annoyed. One of the services I used and mentioned above got hacked last night. Had about $1k worth of BTC stored in their local wallets. This was one of the most popular services for newbies and smaller miners.
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Sorry to hear that. One of the cardinal rules is not to store your cryptocurrency in an online wallet or exchange.
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It wasnāt a long term solution. Itās just where I hold my earnings till I decide to get paid out. More of an annoyance than anything else because the service was so convenient and one of the best solutions out there.
Donāt know if you were just trying to be smart and rub it in but thanks for the tip.
Absolutely not trying to rub it in. I take no pleasure in anyone getting ripped off. I just wasnāt sure how crypto savvy you are.
Getting hacked is my worst fear with crypto. I am prepared to gamble with the volatility of crypto, and if I lose, thatās on me. But it would make me very angry if someone ripped me off.
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Very interesting read. Somewhat speculative, but it made me go and look at the ledger. Although the majority of transactions are relatively small, within seconds of opening it I saw a number of wallets that had sold off hundreds of bitcoin around the same time today. Market manipulation seems possible, and could easily be controlled by relatively few heavy hitters.
Tell that to the British guy who is trying to dig up a landfill to find the hard drive he threw out that had 7500 bitcoin on it.
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It is nothing like tulip bulbs. You see, when the dutch were buying tulip bulbs, and the market collapsed, they were able to plant their bulbs and grow flowers.
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And of course, it is a manipulated market. The whole point of this is to create a market by making the returns seem easy and irresistable. There are many markets all trading with huge spreads between them and once the market is established, they will arbitrage buying coins instantly on one market and selling them on the other. Eventually, the music will stop and people will wonder why the heck they thought it was a good idea to buy the currency. At least, the later speculators will be left wondering. Those who got out will be rich. Better to be lucky than right.
Well, sure, you can eat tulips and bulbs, as well, I think, depending on the varietyā¦ 
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FARMINGDALE, N.Y. (AP) ā Long Island Iced Tea Corp. is changing its name to Long Blockchain Corp., as it wants to focus more on blockchain technology.
Blockchain is a ledger sheet where cryptocurrency transactions are recorded.
The company said Thursday that it plans to ask the Nasdaq to change its trading symbol from its current āLTEA,ā but didnāt disclose what it wants the symbol changed to. It will continue to run Long Island Brand Beverages LLC, which concentrates on the ready-to-drink segment of the beverage industry.
Shares jumped more than 200 percent to $7.66 in morning trading. Over the past year, shares have traded between $1.70 and $9.49.
Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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I thought that was from the onionā¦ but nopeā¦
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$2 stock hit $15 in the premarket this morning, still around $7, up 3x.
Jumping the shark, anyone? NSFW
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Pretty good explanation on the basics of bitcoin and crypto currencies and the latest investment possibilities:
Iām reviving this topic because there have been some developments in this area and Iām now pondering anā¦ āinvestmentā. Actually I canāt figure out if itās even considered an investment and I need to hear what other people think about it. I think it actually makes sense, but I havenāt seen it mentioned in my usual feeds.
To start off, I think that investing in something like BTC is really dumb. However, I do believe in stablecoins pegged to fiat currency. The best example I found is USDC. Itās extremely stable, pegged to the USD at 1:1 (the built-in incentive to keep it stable makes sense to me), and, unlike Tether, their USD deposits are supposedly audited on a regular basis by a Top 5 accounting firm.
But the kicker (killer app?) is crypto lending. There are a bunch of them, and they basically allow you to lend or borrow various cryptoassets at fixed or variable interest rates. The lender just provides the funds and gets paid interest. The borrower must provide collateral (in the form of a cryptoasset), and can then borrow a portion (50-75% from what Iāve seen, depending on the collateral) of the value of their collateral in some other cryptoasset. For example, a borrower could provide some BTC as collateral, then borrow some ETH in the amount up to 60% of the value of the collateral. If the value of their loan starts to exceed 60% of the collateral (due to volatility or what have you), the platform will liquidate some of their collateral to repay part of the loan and bring the LTV back to 60%.
Combine stablecoin with a lending platform, and you can exchange USD for USDC, then lend out USDC at 6-8% interest rates. Transaction fees (of going from USD to USDC and back) are either $0 or negligible, and thereās no lock-in period ā lenders can pull out at any time, and borrowers can pay back whenever they want (I think interest can be paid daily, and Iām guessing itās also collected daily). This is similar to Prosper, except the loan is secured by collateral and I donāt have to look for qualified borrowers and cross my fingers that theyāll pay back, because the lending platforms do this automatically.
The first question anyone would ask is why would someone want to borrow USDC at high rates (12-15%). The only answer I could think of is that the borrowers must believe in the future of their cryptoassets, but they want or need access to money they can actually spend. They donāt want to sell their BTC, but they donāt mind paying some interest in exchange for access to cash.
Someone please tell me why I shouldnāt put all my cash into this instead of a 2.5% savings account.
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Well I donāt pretend to know all the crypto risks, but thereās always the āwe got hacked, sorry about your moneyā issue for any third party crypto exchange. For lending, thereās also collateral risk in that if something crazy happens and the whole crypto market tanks by over 60%, your collateral is gone and you could easily lose your principle when the counterparty chooses to default instead of make good one that. Yes, they could try to liquidate it fast enough to keep the LTV up, but given a crash of that size is happening, I wouldnāt trust that the exchanges would still be trading reliably or that there was enough liquidity to get out when lots of other margin calls are triggering and more crypto assets are all trying to be sold at once. Is 6% interest a fair price for that risk? Seems kinda low, but maybe thatās the market.
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