Nah
That's a misleading stat, just like saying each member of the Walton family is worth more than the bottom 50% combined. While that statement is supposed to reflect a huge wealth inequality, what is really reflects is a basic misunderstanding of math.wheelskjm said:
Oxfam also calculated that the richest 62 people in the world had as much wealth as the poorest half of the global population
Does this knowledg disturb your belief in the existing system or make it stronger?
Who said the current market is flawless? I know manipulation exists. It always has and always will. You live in this fairly land where you think it goes away bc of cryptocurrency.wheelskjm said:ebdb_bnb said:Tell me you aren't naive enough to believe market manipulation will cease to exist. <laugh/cry> x a billionwheelskjm said:
4. If/when those coins move, and everyone will see them move, it will be a ****ing huge event in world history or at least the last decade. If you read satoshi's white paper, the whole concept is to bring truth to the markets by providing actual free markets that aren't manipulated by banks at the expense of the layman.
Tell me you aren't naive enough to think that we can't improve the system by a little bit by removing greased fingered middlemen? At least it'll be somewhat transparent.
If you think the current system is flawless, cryptocurrency serves no purpose and you should ignore these threads, and keep your head buried in more mundane tasks.
wheelskjm said:
You called me naive, I called you ignorant. You got butthurt. Carry on. Both of us probably still have lots to learn in this life.
One of them is that asking for information while insulting someone at the same time isn't a good foot to start a relationship.
Be civil, is all.
Please point to where I engaged you for information. You suggested market manipulation would no longer exist, I pointed out that you are naive to believe that. Ego? You are the only one prancing around here with an ego.wheelskjm said:
You called me naive, I called you ignorant. You got butthurt. Carry on. Both of us probably still have lots to learn in this life.
One of them is that asking for information while insulting someone at the same time isn't a good foot to start a relationship. Be civil, is all.
**** is going to get real, fast, over the next 2-5 years. Take the ego down a bit. Take the walls down a bit. Don't insult people you're trying to engage for information and learn something new.
Nobody needs your input, you added a snarky comment that said I was naive and no additional info, you sniped me. Get angry, you've been lied to about the value of money your whole life. Don't get mad at me though.
I'm not some holy guy who's going to take it on both cheeks, meekly suggesting you seek christ. This is the real world, this is extremely disruptive and you need to be strapped in and learning quickly. F your stupid feelings, feelings are for the weak. Seek knowledge, gain perspective, become wise. I'm still seeking and gaining, far from wise.
The world still needs ditchdiggers, but actually with AI and Robotics what they are that probably won't be that steady of a career choice anymore. Good luck.
Quote:
A Note on Ethereum & Coinbase Fraud
Ethereum continues to set new records in terms of price and market cap, trading at almsot $180 over the weekend. That's up from $10 in January. To put that into perspective, it's highly likely it will hit $200 by June making it a 20x return in 6 months.
VC's can raise another fund if they return even 5x on the last one. And 10x is a unicorn. But that usually takes 10 years. Doubling that performance in 1/20th of the time and you've got something special on your hands.
That is, of course, until someone goes in your bank account and steals it all.
Last week a hacker targeted me specifically. They convinced T-Mobile to change the SIM linked to my phone to a different one linked to one of their own phones. T-Mobile called me to verify. I told them absolutely not and that it was fraud. They went ahead with it anyways (I'm not making this up).
Now the hacker would get my SMS. Meanwhile my cell phone service completely shut off, which means my only phone didn't work.
Then they reset the password on Gmail. Then they reset the password on coinbase. Then they transferred all my Ethereum to Litecoin (note that this is a currency developed by an employee of Coinbase) then they transferred that Litecoin to an unknown wallet. Then they pulled another $500 from my linked Chase bank account.
I have a few screen shots of what was happening as viewed from the notifications received in my Apple Mail account. Note the Opera on Windows browser/OS combo. That's for anonymity. But also shows it's real. I don't use either, nor have touched a windows machine for well over a decade.
Note that the account my money was sent to via Litecoin is as follows:
LVY1K8aQ4KGCbDzdESU63jX5oDeT358pKM
So now we have two pieces of data, as well as tracing IP addresses and cross-referencing other attacks to triangulate the bad actors.
So where are we a week later?
Coinbase has been silent, save for one request for infromation, not giving me an answer to my queries on what they're going to do after someone drained my account. T-Mobile gave me a $100 credit, which was the "limit" of what they could do. Haaaaaaa. Gmail isn't immune either but they don't have a phone number to call so I guess they get away free and clear. Chase Bank sent me a new, more secure card and reversed the $500 Coinbase transaction, thereby affecting Coinbase's credit worthiness.
I know of another gentleman who's entire wealth was drained from Coinbase as well.
So, if you're relying on the industry standard 2-factor authentication, it won't protect you in this case. If you rely on Apple's Touch ID fingerprint, it won't protect you in this case. The vulnerability is your cell phone provider. The attacker will just keep calling T-Mobile until one of the representatives is tired and just switches the SIM, even if you have a passcode on the account.
I wonder how many lawyers out there are focused on the cryptocurrency domain? Seems like a ripe opportunity for some hungry young attorneys. We're reaching out to our friends at Fortune as well.
What should you do right now?
Go protect yourself. Call your cellular provider, make sure you have a secure pin in place, reset your security answer and tell them to double the security on your account. Patch the hole in the leaky ship first.
jh0400 said:
I do think there is something to it, but your immediate dismissal and sarcastic reply to anyone who questions anything related to blockchain isn't winning people to your side. It seems like you take all criticism of cryptocurrency as someone calling by your wife fat and your kids ugly.