Sharp bitcoin sell-off, despite recent breakthroughs in sidechains; traders flee to gold
"Bullion dealer Sharps Pixley, a subsidiary of Europe’s largest precious metal coin and bar outlet, regularly sees trades north of a million pounds, while sales of gold coins at Frankfurt-based CoinInvest jumped fivefold as the largest digital asset collapsed after surging 1,400 percent last year."
"The country’s moves come as President Xi Jinping targets financial risk in the economy following a decade of booms and busts in everything from stocks to real estate. The result: China’s once-dominant role in the world of cryptocurrencies is shrinking."
"The implications for the financial markets are huge. The great on-shoring could prompt multinationals -- which have parked much of their overseas profits in Treasuries and U.S. investment-grade corporate debt -- to lighten up on bonds and use the money to goose their stock prices."
"If the hardware is used to harm the Sia network, either by doing double spends, rejecting soft forks, mining empty blocks, we will invalidate it without hesitation... Overall though, I do not think Sia is in trouble."
"The heart of the matter is property rights. In a traditional banking system, depositors lend their money to the bank. Lending is a temporary transfer of property rights to the borrower. So the bank can do whatever it likes with the money, and the depositor has no guarantee that they will ever get their money back. The interest rate on the deposit is, in part, recompense for the risk that the depositor takes in transferring their property to the bank."
"Western investors may complain that there are some companies from which they are excluded but, for the most part, investment opportunities in the best companies are available and, in many respects, doing business in China is easier than doing business in California."
"The research on 'Non-Interactive Proofs of Proofs of Work,' or NiPoPoW, released in October, has received very little attention so far but is heralded as breaking through one of the major roadblocks that has stalled the widely anticipated sidechain technology."
"We built Radar Relay because we believe in wallet to wallet trading. In addition to supporting MetaMask, we are thrilled to now support Ledger hardware wallets. Ledger is the most secure, trusted, and widely available hardware wallet on the market."
"That database, called the Ethereum state, hold all the computations that need to be memorized by the computers supporting the platform and the ethereum blockchain itself. And with the costs (both in time and money) of storing the state increasing, fewer and fewer people are choosing to run full nodes, which many worry will centralize the network into the hands of only a few arbitrators."