Legacy fintech starting to make Bitcoin look good
Infrastructure failures are not unique to the cryptocurrency market, as evidenced by screwups at large entities like Fidelity and the PBoC.
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"A mailbox at the Hefei branch of the People’s Bank of China, the Chinese central bank, was hacked, and a bogus email was sent from the address, according to an official."
"At the heart of the matter: When the market is spooked and activity picks up, millions of people seek to check their balances and execute trades, creating bandwidth problems."
"The author, known only as @Bitfinexed, declines to identify himself, saying he’s worried about his safety. Since April, he’s accused Bitfinex and Tether of wrongdoing."
"Once Coinbase actually had my cash, though, the process went downhill fast."
"Yet the popularity of these vehicles might have contributed to one of the most violent moves in U.S. equities in history: one that saw the Dow Jones Industrial Average slump more than 6 percent in a span of six minutes."
"Carrey said:'Now, social media has created cyber-bridges over which those who do not have our best interest in mind can cross and we are allowing it. No wall is going to protect us from that.'"
We're short $KODK. Report available at https://t.co/iYzBSjzsqr. KODK's crypto ventures are worthless and the company is hurtling towards bankruptcy. 100% downside, HODL to zero. Conf call 10:30am (888-567-1603, reference Kerrisdale call) (1/5)— Kerrisdale Capital (@KerrisdaleCap) February 7, 2018
"While the DAO hack and Parity freeze comprise some of the more high-profile incidents, cases of lost funds among users are said to be relatively common.
A typo in a wallet address could permanently delete funds, and attacks on insecure smart contracts are fairly frequent."
"All physical systems are noisy, he argues, and qubits kept in highly sensitive 'superpositions' will inevitably be corrupted by any interaction with the outside world. Getting the noise down isn’t just a matter of engineering, he says. Doing so would violate certain fundamental theorems of computation."
Decred announces that Cointopay, a currency payment provider, has integrated Decred. Twitter
Cardano releases an interview with the founder Charles Hoskinson on Proof-of-Stake. Youtube