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Re: NEM Official Thread - Beta is here/Phase 2 Redemption begins[Updates&Discussion]
Where are you guys trying to go with this discussion?
Please tie in where this debate can lead us that would make a positive impact on NEM.
Thanks
Please tie in where this debate can lead us that would make a positive impact on NEM.
Thanks
The basic jist is about how far we want to involve NEM with centralised institutions.
The causal bandying around of inaccurate statistics unchecked certainly won't help produce anything positive!
Re: NEM Official Thread - Beta is here/Phase 2 Redemption begins[Updates&Discussion]
While you are being a sour grape it seems like most people are welcoming this Fidor development on other websites I've read. As Rockethead wrote: 2 million unhappy people want decentralized accounts while 7 billion are content with centralized accounts.
Not wanting to appear sour, but could you please explain to me how 7 billion people can be content with centralized accounts when approx 2.5 billion don't even have a bank account?
Re: NEM Official Thread - Beta is here/Phase 2 Redemption begins[Updates&Discussion]
In what context does the statement correlate to Stockholm syndrome reaction? Care to elaborate?
I was referencing the numerous calls for banker involvement in this discussion, not makoto1337's statement.
Have you ever felt that you're being held hostage by the banking system or think it possible to identify with your aggressor in an attempt to defend one's ego?
On a side note... has a vote by stake holders in relation to unclaimed stakes been discussed yet?
Re: NEM Official Thread - Beta is here/Phase 2 Redemption begins[Updates&Discussion]
I don't really understand why people want to just duplicate existing fiat systems here in the crypto world. Shouldn't we be trying to thinking of better systems that won't enslave all of humanity?
This is a classic Stockholm syndrome reaction.
So how much of NEM's soul needs to be sold for that slot in the limelight?
Re: NEM Official Thread - Beta is here/Phase 2 Redemption begins[Updates&Discussion]
It is possible. Issue IOU in the form of colored coins. That is the very basis of banking!
Point taken, but are there any colored coins in use now that can be traded for fiat?
I believe they are two different classes. One is a service provider and the other is a user. Not sure what you mean here.
Banks aren't needed to store Cypto's, surly all that's left is credit, which I'm sure can be organized privately by individuals once contracts are attached to transactions/blockchains.
Federal regulating body - They are based in Germany. So, it is Germany, I guess.
Deutsche bank: fifteen shades of fraud
On a different note:
Good read, thanks.
Re: NEM Official Thread - Beta is here/Phase 2 Redemption begins[Updates&Discussion]
Best way to answer it is for you to deposit funds into multiple exchanges and try following it on the block explorer. They use scripts to break up deposits, have their own mixers, move them into multiple cold storage wallets, et cetera - but none of this is actually mentioned on the interface at the exchange's URL.
They can also sell Bitcoin for $Fiat and other coins without necessarily proving they have those funds (beyond putting forward an address to one of their cold wallets which is no different than the local teller at your bank showing they have $100K in cash on site despite accounts numbering in the millions).
They can also sell Bitcoin for $Fiat and other coins without necessarily proving they have those funds (beyond putting forward an address to one of their cold wallets which is no different than the local teller at your bank showing they have $100K in cash on site despite accounts numbering in the millions).
This has nothing to do with what I asked and you're failing miserably at trying to distract away from being incapable of explaining your earlier statements!
What times lights out in your basement?
Re: NEM Official Thread - Beta is here/Phase 2 Redemption begins[Updates&Discussion]
FRB succeeds because these institutions accept each other's IOUs, withdrawal panics can be stopped with banking holidays, big banks will bail in each other to advert a crisis and then bail outs from the government who consider these banks too big to fail.
MtGox wasn't a bank but imagine if there were other MtGoxes and they were chummy with each other? They would had rescued MtGox and there may had been no Bitcoin bust in 2014.
MtGox wasn't a bank but imagine if there were other MtGoxes and they were chummy with each other? They would had rescued MtGox and there may had been no Bitcoin bust in 2014.
Impressive edit, my question still stands if you're able to answer it?
Re: NEM Official Thread - Beta is here/Phase 2 Redemption begins[Updates&Discussion]
fractional reserve can still happen in cryoto. It just means the exchanges don't have enough of what ever currency to cover the mass withdrawal of that currency. They may be running in the red and took some deposits to stAy open with the intention of replacing it from future profit.
This isn't the same as what most mainstream banks are presently practicing, Mt Gox being a good example of what happens when you're unable to generate your own Cypto's!
Here are some thoughts on that: http://coinbrief.net/credit-bubble-bitcoin-margin-trading/
Interesting article which emphasises the need for exchanges to maintain reserve ratios in excess of 100%, which is light years away from what Central banks allow now.
Re: NEM Official Thread - Beta is here/Phase 2 Redemption begins[Updates&Discussion]
There is already fractional reserves among the Bitcoin and alternate exchanges and they are creating immense inflation.
I wasn't aware of this, can you please explain where they get this fractionally generated Bitcoin from?
Re: NEM Official Thread - Beta is here/Phase 2 Redemption begins[Updates&Discussion]
Hi,
i dont want so start to talk again - what to do with unclaimed stakes - but what do you think about this project?
https://www.cryptocurrency-bank.com/
We could invest with that fund into the 1st cryptocurrency-bank, this could be a huge thing in future and NEM would recieve constantly dividend, with this dividend could stabilize the NEM system. The Fidor Bank is a good known Bank in Germany, couse it is a partner from the exchange bitcoin.de the majority of Bitcoin user in Germany has a Fidor account. It is a trustful bank, and Kraken as exchange is also known for the most of the community.
Nem could be a big supporter for the first cryptocurrency bank ever and the CCbank for NEM, and its a real big promotion as well.
Lets think about the potencial in the future.
i dont want so start to talk again - what to do with unclaimed stakes - but what do you think about this project?
https://www.cryptocurrency-bank.com/
We could invest with that fund into the 1st cryptocurrency-bank, this could be a huge thing in future and NEM would recieve constantly dividend, with this dividend could stabilize the NEM system. The Fidor Bank is a good known Bank in Germany, couse it is a partner from the exchange bitcoin.de the majority of Bitcoin user in Germany has a Fidor account. It is a trustful bank, and Kraken as exchange is also known for the most of the community.
Nem could be a big supporter for the first cryptocurrency bank ever and the CCbank for NEM, and its a real big promotion as well.
Lets think about the potencial in the future.
I suggested that as well
My idea was to become one of the partners and distribute the unclaimed to new customers of the first crypto oriented bank. That'd be quite awesome. Many new, real people that are obviously crypto interested. Won't get any better than that.
THIS!
That would be a Promotion for the eternity, realy guys!! this is the biggest chance for NEM, you want a movement with the wides distrubution? and well known? you wont find a better opportunity for the next 10 years.
This Bank makes history.!
Is this bank based on fractional reserve banking? If Yes, That would be problematic with the philosophy of crypto currencies and especially for NEM.
Theoretically Cypto's can't be produced from thin air like fiat currencies can, so "fractional reserve banking" isn't possible.
Aren't Cyptp-currencies supposed to be about not needing centralised banks anymore?
What could this proposed Bank do that a individual NEM client couldn't?
Here's Fidor's published strategy statement:
We are a rule-setting, agnostic service leader audited by a federal regulation providing a banking home for the providers and clients of cryptocurrency related services.
"Agnostic service leader"?
Who's "federal" regulating body?
Re: NEM Official Thread - Beta is here/Phase 2 Redemption begins[Updates&Discussion]
Followed instructions, downloaded and installed the client, created the "real account data", copied/verified but when I open a wallet using this created private key it shows a different address to the "real account data" created one!
When the NEM is sent to this "real account data" created account how do you access them?
When the NEM is sent to this "real account data" created account how do you access them?
Re: [ANN] [ASIC-RESISTANT] UltraCoin (UTC) - Ultrafast 6 second transactions!!
Did your check if CPU got loaded at all?
It was showing almost 100% load, when I checked "mininginfo" it first read 264 hashpersec, but when I checked again it was reading O hashpersec?Re: [ANN] [ASIC-RESISTANT] UltraCoin (UTC) - Ultrafast 6 second transactions!!
Hi all, tried solo mining through my wallet's console with "setgenerate true" but was showing O hashpersec!
I've now downloaded the recommended minerd software, can someone please help me set up the bat file to get running?
I using a FX-9370 cpu overclocked to 4.9 GHz!
I've now downloaded the recommended minerd software, can someone please help me set up the bat file to get running?
I using a FX-9370 cpu overclocked to 4.9 GHz!
Re: [ANN][DRK] DarkCoin | First Anonymous Coin | First X11 | First DGW | ASIC Resistant
Honestly, with the difficulty as high as it is, unless you have 100mh+, I'd join a pool.
I ran with pool for a short time, was clocking about 1.2mh, but still want to try solo with a stand alone!I downloaded the a couple from the OP, just don't have a clue how to set up miner n conf file?
Re: [ANN][DRK] DarkCoin | First Anonymous Coin | First X11 | First DGW | ASIC Resistant
I'm presently solo mining through the wallet, can someone help me set up a stand alone miner?
Darkcoin's website mining guide isn't up yet!
Darkcoin's website mining guide isn't up yet!
Re: [ANN] Denarius [DRS] |PoW SCRYPT|Post-Apocalyptic Crypto|Exchange|LAUNCHED|
This being a scrypt coin the best woukd be to mine with gpu but if you still want to mine with cpu a standalone cpu miner would give better results for sure
Only have an old ATI Radeon 4870 which I belive would be slower than my cpu?Got my first block.
