Wow! that's alot and good
But why is justcoin down to 0
I used to trade on it before but i quit , it was pretty great exchange
can be an api problem...
it appears full operational
Topic: [DATA]Exchanges: their way of using a fractional-reserve and generate inflation - page 2. (Read 17720 times)
February 27, 2015, 04:43:01 AM
Wow! that's alot and good
But why is justcoin down to 0
I used to trade on it before but i quit , it was pretty great exchange
can be an api problem...
it appears full operational
February 26, 2015, 05:08:56 AM
Wow! that's alot and good
But why is justcoin down to 0
I used to trade on it before but i quit , it was pretty great exchange
February 26, 2015, 05:06:18 AM
You mean after 2010-07-17 right ?
Though it's really depressing
Sorry, I was wrong.
After 2011-09-13 I use bitstamp prices.
Previus prices are from mtgox.
Ohk! bitstamp is better than mtgox anyways
Oh! wait what mtgox ??
February 25, 2015, 09:20:58 PM
February 24, 2015, 03:41:08 PM
You mean after 2010-07-17 right ?
Though it's really depressing
Sorry, I was wrong.
After 2011-09-13 I use bitstamp prices.
Previus prices are from mtgox.
February 24, 2015, 09:55:28 AM
Is that of any particular exchange or overall ?
bitstamp price (before 2010-07-17 mtgox price)
You mean after 2010-07-17 right ?
Though it's really depressing
February 24, 2015, 09:10:49 AM
Is that of any particular exchange or overall ?
bitstamp price (before 2010-07-17 mtgox price)
February 24, 2015, 07:04:38 AM
Is that of any particular exchange or overall ?
February 24, 2015, 06:39:09 AM
Something happened when Mt.GOx collapsed. It seems so clear
February 24, 2015, 04:40:05 AM
February 23, 2015, 07:59:32 PM
from https://en.bitcoin.it/wiki/Genesis_block
The coinbase parameter (seen above in hex) contains, along with the normal data, the following text[1]:
The Times 03/Jan/2009 Chancellor on brink of second bailout for banks[2]
This was probably intended as proof that the block was created on or after January 3rd, 2009, as well as a comment on the instability caused by fractional-reserve banking.
not another fractional-reserve banking, thanks !
Quote
The coinbase parameter (seen above in hex) contains, along with the normal data, the following text[1]:
The Times 03/Jan/2009 Chancellor on brink of second bailout for banks[2]
This was probably intended as proof that the block was created on or after January 3rd, 2009, as well as a comment on the instability caused by fractional-reserve banking.
not another fractional-reserve banking, thanks !
February 22, 2015, 05:37:37 PM
Trying to be your own bank/custodian means you're trying to reduce the opportunities for third parties to profit from your money/stuff while it is in their systems by 1. getting rid of useless third-parties and 2. reducing delays in transaction settlement/clearing so that your money/stuff is in the third party systems a minimum of the time. Having zero delay is impossible for many kinds of transactions (or even not wanted, e.g. bitcoin mixing), but with bitcoin we can certainly do way better than the huge delays built into the fiat banking system!
great ! we need to spread this awareness
February 22, 2015, 05:38:19 AM
Here's the problem, if I operate with a bank and they close I lose my BTC. If I operate as my own bank and have a wallet on my PC and get hacked I lose my BTC. If I operate as my own bank and have a paper wallet and it get lost or stolen or destroyed I lose my BTC.
I can't win. I can't remove the risk.
I can't win. I can't remove the risk.
https://en.bitcoin.it/wiki/Securing_your_wallet
February 21, 2015, 04:29:13 PM
FYI
I learned long ago that a 'cousin' of what we're talkin' about here exists in the real-estate game;
agents collect the rent for, say, 100 units in a block. They are responsible to 'disburse' those funds to the owners of the units -- but if they patiently skwidgeewiggleificate the disbursement dates, they end up with a 'standing' quantity of money in the bursar's account. And the agency gets interest on that 'standing' amount (and the practice is illegal).
That is, it's not the agent's money; but they get to profit from it while it's in their system.
Mark
I learned long ago that a 'cousin' of what we're talkin' about here exists in the real-estate game;
agents collect the rent for, say, 100 units in a block. They are responsible to 'disburse' those funds to the owners of the units -- but if they patiently skwidgeewiggleificate the disbursement dates, they end up with a 'standing' quantity of money in the bursar's account. And the agency gets interest on that 'standing' amount (and the practice is illegal).
That is, it's not the agent's money; but they get to profit from it while it's in their system.
Mark
That is pretty messed up
It's getting hard to trust with our coins with these exchanges and seeing how they are going down one by one makes it worse
February 21, 2015, 11:03:41 AM
I learned long ago that a 'cousin' of what we're talkin' about here exists in the real-estate game;
agents collect the rent for, say, 100 units in a block. They are responsible to 'disburse' those funds to the owners of the units -- but if they patiently skwidgeewiggleificate the disbursement dates, they end up with a 'standing' quantity of money in the bursar's account. And the agency gets interest on that 'standing' amount (and the practice is illegal).
That is, it's not the agent's money; but they get to profit from it while it's in their system.
Mark
agents collect the rent for, say, 100 units in a block. They are responsible to 'disburse' those funds to the owners of the units -- but if they patiently skwidgeewiggleificate the disbursement dates, they end up with a 'standing' quantity of money in the bursar's account. And the agency gets interest on that 'standing' amount (and the practice is illegal).
That is, it's not the agent's money; but they get to profit from it while it's in their system.
Mark
As I understand it, that is exactly what happens everytime people transact. Anything (fiat, bitcoin, even hardware, anything deemed of value) paid to a third party (a bank, an exchange, an internet hardware reseller, etc.) is a zero-interest loan you make until you receive your stuff (bank account interest, bought hardware, etc.). Everytime you pay someone, you're giving them the opportunity to spend your money before they give you your stuff, and so introduce liquidity/solvency risks best illustrated by ponzi scheme failures. That is credit creation, and it is enabled just by the consumer spending money and waiting for his stuff. That's why being your own bank/custodian (= being in possession of your money/stuff) a maximum of the time is the antidote -- avoiding third parties by using decentralized exchanges as much as possible implies being your own bank/custodian. But, as already said, that also automatically transfers more responsibility directly on consumers.
Trying to be your own bank/custodian means you're trying to reduce the opportunities for third parties to profit from your money/stuff while it is in their systems by 1. getting rid of useless third-parties and 2. reducing delays in transaction settlement/clearing so that your money/stuff is in the third party systems a minimum of the time. Having zero delay is impossible for many kinds of transactions (or even not wanted, e.g. bitcoin mixing), but with bitcoin we can certainly do way better than the huge delays built into the fiat banking system!
February 21, 2015, 07:12:36 AM
FYI
I learned long ago that a 'cousin' of what we're talkin' about here exists in the real-estate game;
agents collect the rent for, say, 100 units in a block. They are responsible to 'disburse' those funds to the owners of the units -- but if they patiently skwidgeewiggleificate the disbursement dates, they end up with a 'standing' quantity of money in the bursar's account. And the agency gets interest on that 'standing' amount (and the practice is illegal).
That is, it's not the agent's money; but they get to profit from it while it's in their system.
Mark
I learned long ago that a 'cousin' of what we're talkin' about here exists in the real-estate game;
agents collect the rent for, say, 100 units in a block. They are responsible to 'disburse' those funds to the owners of the units -- but if they patiently skwidgeewiggleificate the disbursement dates, they end up with a 'standing' quantity of money in the bursar's account. And the agency gets interest on that 'standing' amount (and the practice is illegal).
That is, it's not the agent's money; but they get to profit from it while it's in their system.
Mark
I know that as well.
And yes, again, this is what is probably happening with BTC exchanges.
And this is really sad because this means that if we don't go against this practice the whole ecosystem might have huge troubles.
Thanks for sharing your cousin's info
February 20, 2015, 10:27:26 PM
FYI
I learned long ago that a 'cousin' of what we're talkin' about here exists in the real-estate game;
agents collect the rent for, say, 100 units in a block. They are responsible to 'disburse' those funds to the owners of the units -- but if they patiently skwidgeewiggleificate the disbursement dates, they end up with a 'standing' quantity of money in the bursar's account. And the agency gets interest on that 'standing' amount (and the practice is illegal).
That is, it's not the agent's money; but they get to profit from it while it's in their system.
Mark
I learned long ago that a 'cousin' of what we're talkin' about here exists in the real-estate game;
agents collect the rent for, say, 100 units in a block. They are responsible to 'disburse' those funds to the owners of the units -- but if they patiently skwidgeewiggleificate the disbursement dates, they end up with a 'standing' quantity of money in the bursar's account. And the agency gets interest on that 'standing' amount (and the practice is illegal).
That is, it's not the agent's money; but they get to profit from it while it's in their system.
Mark
February 20, 2015, 12:42:14 PM
Here's the problem, if I operate with a bank and they close I lose my BTC. If I operate as my own bank and have a wallet on my PC and get hacked I lose my BTC. If I operate as my own bank and have a paper wallet and it get lost or stolen or destroyed I lose my BTC.
I can't win. I can't remove the risk.
I can't win. I can't remove the risk.
you can not completely remove the risk, but you can reduce it a lot.
And learn how to do is educational, nobody will ever take your risk for free!
This thing for me goes beyond BTC.
We do what we can to reduce risks and if something wrong happens, fine...
February 20, 2015, 09:29:40 AM
Here's the problem, if I operate with a bank and they close I lose my BTC. If I operate as my own bank and have a wallet on my PC and get hacked I lose my BTC. If I operate as my own bank and have a paper wallet and it get lost or stolen or destroyed I lose my BTC.
I can't win. I can't remove the risk.
I can't win. I can't remove the risk.
you can not completely remove the risk, but you can reduce it a lot.
And learn how to do is educational, nobody will ever take your risk for free!
February 19, 2015, 07:34:50 PM
Here's the problem, if I operate with a bank and they close I lose my BTC. If I operate as my own bank and have a wallet on my PC and get hacked I lose my BTC. If I operate as my own bank and have a paper wallet and it get lost or stolen or destroyed I lose my BTC.
I can't win. I can't remove the risk.
I can't win. I can't remove the risk.
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