News: SEC, Tether, Lightning Network economics, altcoin pumping, even Ripple users don’t use XRP

  • Speaking of which, even is getting a bit pointed about the speed of the Tether printing press. You know, it’s almost as if the actual ideology of Bitcoin is “number go up” and all else is secondary to this vision. My current work in progress is an article properly explaining Tethers. I’m 1500 words into a pile of paragraphs and notes. Here’s to the whole thing not collapsing before I post.
  • The Lightning Network is live on the main Bitcoin network! It has a number of minor problems, like the bug where if you restore a backup of your Bitcoin wallet, you can lose the money in your channels, and the economics is still ridiculous. But how are they dealing with the problem of making sure money can travel through the network, even though people aren’t compelled to lend to transactions wanting to pass through their channel? Centrally enforced lending!
  • BuzzFeed on altcoin pumping. They asked James Altucher about his unfortunate prediction concerning Amazon taking Bitcoin as of October 2017, even though he post-edited the blog post in question to say “February”; apparently, saying “potentially as early as” covers a headline saying “I am certain”. Sadly, the article did not ask how Altucher knew who Satoshi was. Ryan Mac, the article’s author, is not a fan of Altucher.
  • Ripple calls XRP the “global liquidity solution for payment providers and banks.” The Financial Times asked 16 banks who’ve touched Ripple’s other software if they’d used XRP. The number was, of course, zero.




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