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Old 08-09-2016, 09:39 PM   #18776
aggo
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Re: Bitcoins - digital currency

Quote:
Originally Posted by jij452 View Post
Wow this is a huge deal indeed. Solutions to scalability AND fungebility, although incompatible with BTC....
On the look to see when this get implemented in a new alt, I'd be extremely bullish on it !!
Btw, cool episode about it on the crypto show (although tbh I really don't like one of the hosts ;-)

Thxs for posting !
it goes really deep,


In bitcoin, there's a record that goes back years, and the blockchain in this sense can be searched going back many many years and thousands of txs. This is useful in bitcoin because anyone can independently verify and observe for example that there are exactly 21m coins in existence.

Apparently in mimblewimble, the blockchain as we know it (as in, bitcoin's blockchain) exists in a different manner. I dont even know if its right to call it a blockchain because transactions behave differently and arent added to an existing chain.

My understanding is that set of transactions in mimblewimble comprise the entire blockchain. So instead of adding to a constantly everlasting blockchain block by block, in mimblewimble each block (of transactions) comprise the entire "blockchain", and each time a new block is mined, this entire "blockchain" is completely re-written.

read this:

http://diyhpl.us/wiki/transcripts/mimblewimble-podcast/
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Old 08-11-2016, 04:24 PM   #18777
0desmu1
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Re: Bitcoins - digital currency

cool! so it's kinda like DNA, where information from the past is coded in a sense because the present strand is a result of all past transmutations, but it doesn't drag its entire history behind; it only implies it.
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Old 08-12-2016, 12:04 PM   #18778
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Re: Bitcoins - digital currency

Anyone know if there are fees when I do an ach withdrawal from GDAX? Their website implies NO. Yet coinbase charges a fee for withdrawals. So wouldn't it make sense to go coinbase>GDAX>bank?
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Old 08-23-2016, 11:17 AM   #18779
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Re: Bitcoins - digital currency

I'm curious to hear opinions about BFX coins. I held a USD balance on the BFX exchange when the hack occurred and was given a sizable amount of coins as part of the socialized losses. Most people on r/bitcoinmarkets predicted bfxcoins would trade at around 10c, but current value is triple that price.

I suppose the primary factor is whether BFX can restore confidence in the company. Does anyone know the degree to which the hack has impacted trading volume? I assume BFX restored some confidence by providing withdrawals immediately upon the the site coming back up, because it demonstrates intention of covering the losses. I've also read numerous accounts from crypto-traders who say BFX offers a much better web-based trading platform than its competitors, so much better that they traded there pre-hack despite awareness of the companies shady management. So maybe there is hope for BFX coin?
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Old 08-23-2016, 01:07 PM   #18780
andr3w321
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Re: Bitcoins - digital currency

Meh, I'm holding my BFX. I'm sure a big part of the reason I and many others are holding is because of dumb psychological reasons of being unwilling to accept the loss as I would definitely not buy the coin at it's current 43 cents price.

ibankbtc had a good post about why he sold
Quote:
I sold them because I am not sure if lawsuits are coming. There is risk in that and I am operating on less information than an insider. if so, I don't want to be apart of it. I didn't have a small amount, had 25% of money there.
You can google around for various revenue estimates, but if they don't secure an investor I think it will be long time before everyone is made whole. On the other hand it may not be too long until they start making small payments. I think we'll know a lot more in a few weeks and I'll reevaluate then when more info is available (hopefully financial statements or details on a VC rescue).
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Old 08-23-2016, 06:16 PM   #18781
aggo
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Re: Bitcoins - digital currency

I think the banktothefuture news is bearish. Anyone who was owed money from full tilt poker knows that reducing your debt vs infusing that same value in cash are two totally different scenarios. Don't conflate the two-- finex needs cash, but decreasing its debt to customers is not a direct solution to its core issue-- it is insolvent.

PGP (bfx cso) told people that there is a floor on the price of bfxcoin, meaning that finex possesses assets such that even if they were to actually go bankrupt, the actual value of the coin is not 0. Some of these assets are cash, equity in blockstream & shapeshift & other companies.

I was fortunate enough to be able to trade bfxcoin to recoup all of my losses and some. When trading started you were able to buy at 9c-25c within the first day or two because the market was really illiquid.

The full tilt poker bankruptcy taught me that it is incredibly hard to buy a business thats distressed. No matter what books you want to look at, the buyer is incurring an unbelievable amount of risk. Today, finex operates at less than 10% btc/usd trading volume and approximately 10% btc/usd margin funding volume. No one is going to hand over 70m unless the entire management walks away with 0 equity. We know what's going to happen here, its just a matter of time. When the banktothefuture news came out, I quickly sold the rest of my bfxcoin. I apparently missed out on some extra profit, but I'm very happy to walk away. There is no way that bfxcoin is worth in real terms 40c at this point, I would be a willing buyer still, but not near 40c. If they havent already found an investor, one wont be coming unless there is a black swan event that increases volatitly in bitcoin and forces people to trade/buy/sell it soon.

The reason why I think its pumping is because if you're an accredited european investor who already is a bagholder, conceivably, you would be willing to convert your debt to equity. If this is the case, an argument can be made that because you already hold debt that it would be good value to buy even more debt at 40c to increase your equity into the company.

Last edited by aggo; 08-23-2016 at 06:23 PM.
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Old Yesterday, 02:13 AM   #18782
BOOOOM!!!!
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Re: Bitcoins - digital currency

Can anyone tell me if BitPanda.com (previously, Coinimal.com) is a legit site to trade btc with? Specifically for using it to move skrill around.
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Old Today, 11:36 AM   #18783
halcyon229
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Re: Bitcoins - digital currency

Quote:
Originally Posted by BOOOOM!!!! View Post
Can anyone tell me if BitPanda.com (previously, Coinimal.com) is a legit site to trade btc with? Specifically for using it to move skrill around.
The site is legit, but the rates are worse than on other exchanges. You basically pay for the convenience of being able to use Skrill, NT and so on.
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Old Today, 04:02 PM   #18784
BOOOOM!!!!
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Re: Bitcoins - digital currency

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Originally Posted by halcyon229 View Post
The site is legit, but the rates are worse than on other exchanges. You basically pay for the convenience of being able to use Skrill, NT and so on.
I see, thank you. Yes i did notice that when they asked me about the rate they offered 8euros/1btc less than the market rate, for a cashout to skrill.
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