vocatus_gate

>Is there a Coinbase imposed limit to how many Bitcoins I can send to another wallet?

"Sending to another wallet" IS a withdrawal.

Yes, Coinbase limits BTC withdrawals based on current USD value. A lot of traders lost money because they couldn't get their funds out in time. Coinbase will likely get sued and it'll cost them.

You're more or less correct. Coinbase is sitting on the keys to customer wallets/funds. When the fork happened, those keys work both on the original Bitcoin network and the new "Bitcoin Cash" network. Which, apparently turned out to have substantial value (currently trading ~$650).

Coinbase made a colossal mistake in outright ignoring BCC and will likely get sued (and lose) because of it. If I had 10 BTC on CB and missed out on the opportunity to trade or sell $6,500 worth of free BCC I just got, I'd be mad too.

They need to act quickly before it goes to court. Someone else commented that they don't even need to support trading BCC, all they have to do is provide a way for customers to withdraw their BCC, and they're in the clear.

I think an argument against that is that 10 days is a pretty short deadline to act to prevent a potentially large financial loss. Especially if you were on vacation, not following the news about bitcoin, etc.

Coinbase doesn't have to support trading BCC, they can simply provide a withdrawal function so people can claim their BCC and move on with their lives. Their decision to ignore it entirely is going to get them sued and it's going to cost them.

Nobody thought MySpace or GeoCities were going anywhere either...

I was honestly pretty skeptical about it for a while too, and only recently came around after finally sitting down and doing some reading on it. Currently Monero is the only coin I'd trust for any sort of transaction requiring privacy.

I think you might be mistaken. Zcash is definitely NOT private for the majority of transactions. You have to opt-in to obfuscated transactions and so few of them are private that the ones that are really stand out.

Monero enforces privacy on all transactions by default. Back in the day you could send non-private transactions but during one of the previous hard-forks they removed that ability.

Can't remember how I stumbled across this article, but I thought it was a good summary of Bitcoin works in spite of some glaring flaws.

https://www.gwern.net/Bitcoin%20is%20Worse%20is%20Better

That's why I've never understood all this talk about "private blockchains." Why? What's the point? We already have distributed database systems that are light years faster than blockchains. The ONLY benefits of a blockchain-based approach are censorship resistance and not having to trust the actors in the system. If you don't need either of those two benefits, then there are far better existing solutions for record keeping.

YOLO, in the common vernacular.

Yeah that autostart video was incredibly annoying.

This paper explains in some basic detail why CoinJoin is a half-solution vs. Ring sigs + RingCT

http://weuse.cash/2016/06/09/btc-xmr-zcash/

For me it's now Monero or nothing.

*fistbump

Concurred. I hope they increase the default mandatory mixin level.

My holdings are much higher than that so it's a drop in the bucket either way at this point.

I don't even know what krokodili IS so I'll take your word for it, ha ha

If penny stocks are the cocaine of the finance world, bitcoin and related cryptocurrencies are like freebasing crack.

Same here, I saved mine to show to my kids some day. "Hey look kids, your dad was summoned to a Japanese district court over the loss of 0.0001 bitcoin!"

Unfortunately Monero is the only one doing it right: all transactions are enforced private by default. Dash and zcash offer confidential transactions as an opt-in feature, but so few people use them that it draws additional scrutiny when they do.

At this point in time it's "Solo Monero" for privacy.

He's not wrong, Monero is the only crypto (currently) enforcing fully private transactions by default. In a reddit thread about the AB bust someone pointed out that they weren't able to determine the amount of Monero he had, vs. listing exact amounts of his Eth, zcash, etc.

edit for clarification: I wasn't saying he wouldn't have been caught, only that Monero offers additional benefits beyond some of the other coins and help conceal transaction history.

A fool and his money are soon parted.

How??? I've never understood how people can have that many tabs open and it be useful at all. At that point the information overload is too much. I have at most 10 open, and close them as I'm done with them. Helps reduce cognitive load.

What you said is essentially meaningless though. "I don't like a blockchain-based currency because the record of transactions is permanent." Well...yeah, that's the whole point of blockchains. The strength in Monero's case is that everything is so obfuscated (and amounts + addresses are encrypted) that it's the best option out there. It doesn't have to be perfect, it just has to be better than its competitors.

e.g. Facebook isn't perfect, but it sure obliterated MySpace.

FYI the term is "brass tacks" not "brass tax"

Monero is the ONLY cryptocurrency where full privacy is enforced by default. No mixers, no opt-in mode, no super-nodes, no tumblers, it's all obfuscated by default. I'm very bullish on Monero long-term.

Maybe in normal markets. In the cracked out world of cryptocurrency it's just another day of trading.

There are a multitude of websites. One of the most well-known and reputable US-based sites is coinbase.com

Friend of mine is a model in NYC. She PM'd me last week asking about putting money into Ethereum. Now she's not stupid by any means, but she's pretty far from the demographic typically associated with cryptocurrencies. Was kind of eye-opening to me about how far the hype is reaching right now.

Network Engineer and GSAR (glacier search and rescue). I did an AMA down there that hit the front page of Reddit if you're interested in learning more about it:

https://www.reddit.com/r/IAmA/comments/5656e1/iama_i_dont_ha...