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Hot!Cryptocurrency needs to die - for the good of all.

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aka_STEVE_b
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Re: Cryptocurrency needs to die - for the good of all. 2021/06/17 11:37:51 (permalink)

World Bank slams bitcoin, declines to help El Salvador’s cryptocurrency plan

Bank faults bitcoin's “environmental and transparency shortcomings.”

https://arstechnica.com/tech-policy/2021/06/world-bank-slams-bitcoin-declines-to-help-el-salvadors-cryptocurrency-plan/
 
&

Plundering of crypto keys from ultrasecure SGX sends Intel scrambling again

Intel's speculative execution flaws go deeper and are harder to fix than we thought.

https://arstechnica.com/information-technology/2020/06/new-exploits-plunder-crypto-keys-and-more-from-intels-ultrasecure-sgx/
 
 
 On Tuesday, two separate academic teams disclosed two new and distinctive exploits that pierce Intel’s Software Guard eXtension, by far the most sensitive region of the company’s processors.

Abbreviated as SGX, the protection is designed to provide a Fort Knox of sorts for the safekeeping of encryption keys and other sensitive data even when the operating system or a virtual machine running on top is badly and maliciously compromised. SGX works by creating trusted execution environments that protect sensitive code and the data it works with from monitoring or tampering by anything else on the system.

Key to the security and authenticity assurances of SGX is its creation of what are called enclaves, or blocks of secure memory. Enclave contents are encrypted before they leave the processor and are written in RAM. They are decrypted only after they return. The job of SGX is to safeguard the enclave memory and block access to its contents by anything other than the trusted part of the CPU.

Raiding Fort Knox
FURTHER READING
Intel’s SGX blown wide open by, you guessed it, a speculative execution attack
Tuesday’s attacks aren’t the first to defeat SGX. In 2018, a different team of researchers broke into the fortified Intel region after building on an attack known as Meltdown, which, along with a similar attack known as Spectre, ushered in the flurry of processor exploits. A different team of researchers broke SGX earlier this year.
Intel mitigated the earlier SGX vulnerability by introducing microcode updates. However, these mitigations did not last, as two new attacks have sent Intel scrambling anew to devise new defenses. Intel released the new updates on Tuesday and expects them to be available to end users in the coming weeks. Depending on the computer, the fix will either be installed automatically or will require manual intervention. Users, particularly those who rely on the SGX, should check with the manufacturer of their machine and ensure that the update is installed as soon as practical.


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Re: Cryptocurrency needs to die - for the good of all. 2021/06/17 12:25:01 (permalink)
I would happily watch everyone lose their ass in it. It does have uses if implemented the way it was designed.

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Re: Cryptocurrency needs to die - for the good of all. 2021/06/17 12:57:05 (permalink)
aka_STEVE_b

World Bank slams bitcoin, declines to help El Salvador’s cryptocurrency plan

 

In other words, the "World Bank" doesn't like for you to be your own bank and have currency they can't touch or manipulate.

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Re: Cryptocurrency needs to die - for the good of all. 2021/06/17 14:24:53 (permalink)
kram36
aka_STEVE_b

World Bank slams bitcoin, declines to help El Salvador’s cryptocurrency plan

 

In other words, the "World Bank" doesn't like for you to be your own bank and have currency they can't touch or manipulate.

+1.

World Bank disapproval = you got no chance in hell hippies😁 sell your bitcoin for cash while u still can

Those who abuse power, are nothing but scumbags! The challenge of power is how to use it and not abuse it. The abuse of power that seems to create the most unhappiness is when a person uses personal power to get ahead without regards to the welfare of others, people are obsessed with it. You can take a nice person and turn them into a slob, into an insane being, craving power, destroying anything that stands in their way.
 
 
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Xavier Zepherious
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Re: Cryptocurrency needs to die - for the good of all. 2021/06/17 16:59:21 (permalink)
the US republican party accepts Bitcoin as donation


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jamey19
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Re: Cryptocurrency needs to die - for the good of all. 2021/06/17 20:35:08 (permalink)
El Salvador made Bitcoin the national currency... it's not going away any time soon.
aka_STEVE_b
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Re: Cryptocurrency needs to die - for the good of all. 2021/06/18 04:22:27 (permalink)
jamey19
El Salvador made Bitcoin the national currency... it's not going away any time soon.



Well , that seals it then - El Salvador .   the 3rd world country where 99% of it's people don't own a computer, internet  nor running water.  El Slavador, the country who's human rights index is even lower than Iraq & Palestine.
   more proof that Bitcoin has been taken over as the favored usage for illegal activities by dictators & criminals .  
  To be a legitimate currency, it would need to be backed up by legitimate world powers & banks.... therefore defeating what some people believe it's purpose is for.  ( anonymous, uncontrolled ability to make transactions without govt. oversight & fees , etc.)

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Xavier Zepherious
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Re: Cryptocurrency needs to die - for the good of all. 2021/06/18 04:50:32 (permalink)
they aren't the only ones
all of South America is considering making it legal tender - several Eu countries are looking at making it legal tender - ie they have told their central banks that the gov wants to make it legal 
 
what is needed it the US and the G8 or G10 to get off their keysters and make policy and regulate it
 
Central American Bank for Economic Integration to Help El Salvador Implement Bitcoin as Legal Tender
............................................
 
 
look i don't think its a good idea to make it legal tender - i would rather see it on the SEC as a commodity and be regulated that way...just like gold or stock or bearer bonds
then you can gag investors from doing pump and dump (like elon)
 
you can buy stuff with gold or jewels... it's called barter
how you come to what's fair between each other is up to you and the other party as what is acceptable
 
if you accept BTC then you assume the risks and Maybe ask a little more BTC than you would need to cover your costs
you could lose money or the coin could go up after you get it and before you can change it to fiat currency - that is the risk - so some times you win (and could win big) and sometimes you may lose
that is up to your businesses and what your acceptable loses or gains can be - 
post edited by Xavier Zepherious - 2021/06/18 05:08:04


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atfrico
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Re: Cryptocurrency needs to die - for the good of all. 2021/06/18 05:15:39 (permalink)
Most South Americans countries are controlled by corruption😒

Those who abuse power, are nothing but scumbags! The challenge of power is how to use it and not abuse it. The abuse of power that seems to create the most unhappiness is when a person uses personal power to get ahead without regards to the welfare of others, people are obsessed with it. You can take a nice person and turn them into a slob, into an insane being, craving power, destroying anything that stands in their way.
 
 
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Xavier Zepherious
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Re: Cryptocurrency needs to die - for the good of all. 2021/06/18 05:17:39 (permalink)
TECH

Miami’s mayor looks to woo Chinese bitcoin miners with low energy prices and clean nuclear power


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atfrico
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Re: Cryptocurrency needs to die - for the good of all. 2021/06/18 06:16:42 (permalink)
Xavier Zepherious
TECH
Miami’s mayor looks to woo Chinese bitcoin miners with low energy prices and clean nuclear power

You gave discount to outsiders and not to your citizens? Are you serious?🙄
Talk about priorities🤔

Those who abuse power, are nothing but scumbags! The challenge of power is how to use it and not abuse it. The abuse of power that seems to create the most unhappiness is when a person uses personal power to get ahead without regards to the welfare of others, people are obsessed with it. You can take a nice person and turn them into a slob, into an insane being, craving power, destroying anything that stands in their way.
 
 
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Miguell
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Re: Cryptocurrency needs to die - for the good of all. 2021/06/18 06:25:46 (permalink)
 
 
either way i don't see virtual coin dying anytime soon ..
we have BT, Chia and Etherium on the table... ( did i miss any other crypto) 
 
and are these i mentioned gonna burst the bubble soon?

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Re: Cryptocurrency needs to die - for the good of all. 2021/06/18 07:20:38 (permalink)
kram36
aka_STEVE_b

World Bank slams bitcoin, declines to help El Salvador’s cryptocurrency plan

 

In other words, the "World Bank" doesn't like for you to be your own bank and have currency they can't touch or manipulate.


That means its working! Crypto is the way.

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atfrico
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Re: Cryptocurrency needs to die - for the good of all. 2021/06/18 07:22:06 (permalink)
Miguell
 
 
either way i don't see virtual coin dying anytime soon ..
we have BT, Chia and Etherium on the table... ( did i miss any other crypto) 
 
and are these i mentioned gonna burst the bubble soon?

It needs to die like the short release of the 3080😁

Those who abuse power, are nothing but scumbags! The challenge of power is how to use it and not abuse it. The abuse of power that seems to create the most unhappiness is when a person uses personal power to get ahead without regards to the welfare of others, people are obsessed with it. You can take a nice person and turn them into a slob, into an insane being, craving power, destroying anything that stands in their way.
 
 
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Klaus H
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Re: Cryptocurrency needs to die - for the good of all. 2021/06/18 10:27:37 (permalink)
Do legitimate banks accept crypto as a form of currency?
Xavier Zepherious
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Re: Cryptocurrency needs to die - for the good of all. 2021/06/18 16:07:56 (permalink)
Goldman Sachs(US)
  • USAA

    Based in Texas, USAA is a renowned financial service company for the US military. It is a Fortune 500 company that caters to active, honorably separated, retired, and enlisted personal of the United States military.  This bank also allows civilians to open bank accounts with them. Over the past few years, USAA has invested over 150 million in Coinbase, and this makes it easy for its customers to interact with this world’s largest cryptocurrency exchange.
     
    Royal bank of canada
    national bank of canada
    Barckleys(UK)
     
     
    -------------------------
    JP Morgan Chase is about to accept crypto 


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    Brad_Hawthorne
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    Re: Cryptocurrency needs to die - for the good of all. 2021/06/19 20:00:22 (permalink)
    Xavier Zepherious
    Goldman Sachs(US)
     
    • USAA

      Based in Texas, USAA is a renowned financial service company for the US military. It is a Fortune 500 company that caters to active, honorably separated, retired, and enlisted personal of the United States military.  This bank also allows civilians to open bank accounts with them. Over the past few years, USAA has invested over 150 million in Coinbase, and this makes it easy for its customers to interact with this world’s largest cryptocurrency exchange.
       
      Royal bank of canada
      national bank of canada
      Barckleys(UK)
       
       
      -------------------------
      JP Morgan Chase is about to accept crypto 

    Eh? For economy of scale, $150mil is beer money. 
    Red_Infern013
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    Re: Cryptocurrency needs to die - for the good of all. 2021/06/20 02:04:50 (permalink)
    Honestly anything that isn't to the liking of these 0.01% a-holes I'm fully behind.

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    Re: Cryptocurrency needs to die - for the good of all. 2021/06/20 02:31:56 (permalink)
    Cryptocurrency will be here for some time to come. Especially when there is high market value. That means GPUs will continue to be sold for that purpose. It is true that NVIDIA is trying to squash hash rates with new GPUs but that won't affect demand from cryptocurrency farms for some time yet. 

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    Re: Cryptocurrency needs to die - for the good of all. 2021/06/20 10:55:36 (permalink)
    Crypto is the reason why there is a GPU shortage, it needs to die. How many more years of shortage do we have to endure? If crypto remains, I fear that it will be permanent.
    kram36
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    Re: Cryptocurrency needs to die - for the good of all. 2021/06/20 12:26:42 (permalink)
    SensMachine
    Crypto is the reason why there is a GPU shortage, it needs to die. How many more years of shortage do we have to endure? If crypto remains, I fear that it will be permanent.


    How can 25% of GPU sales to miners cause the shortage? What about the other 75%?
     
    https://forums.evga.com/Cryptocurrency-Miners-Bought-700000-GPUs-in-Q1-2021-m3396925.aspx

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    Re: Cryptocurrency needs to die - for the good of all. 2021/06/20 20:58:48 (permalink)
    Crypto definitely needs to die, not only does it prevent us gamers from getting the GPU's we need, it's killing the planet with unnecessary energy usage. 
    Red_Infern013
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    Re: Cryptocurrency needs to die - for the good of all. 2021/06/21 01:20:36 (permalink)
    Plenty of things are killing the planet far worse than crypto mining.

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    Re: Cryptocurrency needs to die - for the good of all. 2021/06/21 08:45:55 (permalink)
    Blitzzwar
    Crypto definitely needs to die, not only does it prevent us gamers from getting the GPU's we need, it's killing the planet with unnecessary energy usage. 


    How can 25% of GPU sales to miners cause the shortage? What about the other 75%?
     
    https://forums.evga.com/C...-Q1-2021-m3396925.aspx
     
    Crypto mining is not killing the planet.

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    Re: Cryptocurrency needs to die - for the good of all. 2021/06/21 09:22:23 (permalink)
    Red_Infern013
    Plenty of things are killing the planet far worse than crypto mining.


    If everyone takes that stance with everything that is causing harm to the environment, we'll never make forward progress. It all adds up and crypto is an unnecessary evil. 
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    Re: Cryptocurrency needs to die - for the good of all. 2021/06/22 14:16:15 (permalink)
    trust me even if it happen shortages and scalpers would still be happening, too much request, it will take years
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    Re: Cryptocurrency needs to die - for the good of all. 2021/06/29 20:37:36 (permalink)
    I have always seen Cryptocurency as an odd venture considering how even more fragile it's basis is. It's purely on the idea of value compared to the US Dollar which at least took a while to become floating after it's inception as a gold based currency. I mean if there was a large enough part of the public which suddenly saw cryptocurrency as an absolutely worthless thing, then that's it! It's just zero, nil, zilch for the miners and investors if such a thing was to happen.

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    Re: Cryptocurrency needs to die - for the good of all. 2021/06/29 21:20:40 (permalink)
    kram36
    SensMachine
    Crypto is the reason why there is a GPU shortage, it needs to die. How many more years of shortage do we have to endure? If crypto remains, I fear that it will be permanent.


    How can 25% of GPU sales to miners cause the shortage? What about the other 75%?
     
    https://forums.evga.com/Cryptocurrency-Miners-Bought-700000-GPUs-in-Q1-2021-m3396925.aspx


     
    Easy.  Let's say through all the market research, GPU manufacturers expect 75,000 gamers to purchase graphics cards.  And so the entire supply chain is set up to support 75,000 graphics cards.  But then a black swan event occurs and suddenly 25,000 miners want a graphics card.  Now the total demand is 100,000 where supply is 75,000 units.  That is a shortage.
     
    My next argument is the fact that GPU prices across the board have gone down with a decrease in crypto price.  Just look at camelcamelcamel and it is the same story for a lot of cards.  Has supply gone up enough to justify the price slump?  Or has the fact that crypto has lost half its value caused the price slump?
     
    kram36
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    Re: Cryptocurrency needs to die - for the good of all. 2021/06/30 05:49:30 (permalink)
    danlw
    kram36
    SensMachine
    Crypto is the reason why there is a GPU shortage, it needs to die. How many more years of shortage do we have to endure? If crypto remains, I fear that it will be permanent.


    How can 25% of GPU sales to miners cause the shortage? What about the other 75%?
     
    https://forums.evga.com/Cryptocurrency-Miners-Bought-700000-GPUs-in-Q1-2021-m3396925.aspx


     
    Easy.  Let's say through all the market research, GPU manufacturers expect 75,000 gamers to purchase graphics cards.  And so the entire supply chain is set up to support 75,000 graphics cards.  But then a black swan event occurs and suddenly 25,000 miners want a graphics card.  Now the total demand is 100,000 where supply is 75,000 units.  That is a shortage.
     
    My next argument is the fact that GPU prices across the board have gone down with a decrease in crypto price.  Just look at camelcamelcamel and it is the same story for a lot of cards.  Has supply gone up enough to justify the price slump?  Or has the fact that crypto has lost half its value caused the price slump?
     


    Don't know how to do math, do you?

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    Blitzzwar
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    Re: Cryptocurrency needs to die - for the good of all. 2021/06/30 07:09:50 (permalink)
    The only people in here arguing for crypto are the miners themselves. 
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