{"id":2971,"date":"2017-12-09T23:33:11","date_gmt":"2017-12-09T23:33:11","guid":{"rendered":"https:\/\/davidgerard.co.uk\/blockchain\/?p=2971"},"modified":"2017-12-11T09:59:35","modified_gmt":"2017-12-11T09:59:35","slug":"news-coinbase-bittrex-breach-nicehash-zero-hedge-cebma-interview-with-me-not-a-ponzi-lightning-network","status":"publish","type":"post","link":"https:\/\/davidgerard.co.uk\/blockchain\/2017\/12\/09\/news-coinbase-bittrex-breach-nicehash-zero-hedge-cebma-interview-with-me-not-a-ponzi-lightning-network\/","title":{"rendered":"News: Coinbase, Bittrex breach, NiceHash, Zero Hedge, CEBMa interview with me, not a Ponzi, Lightning Network"},"content":{"rendered":"<p>Home life has been hectic over the past week and coming week \u2014 let alone the Bitcoin price insanity \u2014 but in the meantime, <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2017\/12\/08\/all-cats-are-from-porlock\/\">cats<\/a> notwithstanding &#8230;<\/p>\n<ul>\n<li>CoinBase are adding users at a frenetic rate, and just emailed all their users breaking the news to them that in the event of a crash, there&#8217;s <a href=\"https:\/\/blog.coinbase.com\/please-invest-responsibly-an-important-message-from-the-coinbase-team-bf7f13a4b0b1\"><em>no way<\/em> they&#8217;ll be able to cash out in time<\/a>. <strong>Update: <\/strong>Coinbase&#8217;s blog is showing an expired SSL cert, Firefox refuses to go to it. &#8220;blog.coinbase.com uses an invalid security certificate. The certificate expired on 9 December 2017, 23:59. The current time is 10 December 2017, 00:25. Error code: SEC_ERROR_EXPIRED_CERTIFICATE&#8221; The post is <a href=\"https:\/\/web.archive.org\/web\/20171208081622\/https:\/\/blog.coinbase.com\/please-invest-responsibly-an-important-message-from-the-coinbase-team-bf7f13a4b0b1?gi=57bbfc683234\">archived here<\/a>. <strong>Update 2:<\/strong> it&#8217;s working again.<\/li>\n<\/ul>\n<p>https:\/\/twitter.com\/adrjeffries\/status\/938824429299257351<\/p>\n<ul>\n<li>Still, they&#8217;re doing a bit better than Bittrex, who have been <a href=\"https:\/\/cointelegraph.com\/news\/bittrex-leaks-user-passports-in-support-emails-says-russian-telegram-channel\">leaking customers&#8217; KYC information<\/a>, like passport scans, in emails to <em>other<\/em> customers.<\/li>\n<\/ul>\n<ul>\n<li>NiceHash claims they&#8217;re <a href=\"https:\/\/www.reddit.com\/r\/NiceHashHack\/\">coming back<\/a> from the <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2017\/12\/06\/news-nicehash-hack-bitfinex-makes-the-news-steam-drops-bitcoin-sec-vs-ico-venezuela-book-news-i-have-to-mention-cryptokitties\/\">hack<\/a>, though the home miners are treating them like they&#8217;re already dead. Here are <a href=\"https:\/\/www.reddit.com\/r\/NiceHash\/comments\/7ilq73\/exclusive_interview_with_matjaz_skorjanc_from\/\">local<\/a> and <a href=\"https:\/\/www.reddit.com\/r\/NiceHash\/comments\/7im8lu\/interview_with_matjaz_skorjanc_the_cto_of_nicehash\/\">Reddit<\/a> interviews with founder Matjaz Skorjanc. They&#8217;ve also asked for help on Reddit <a href=\"https:\/\/www.reddit.com\/r\/NiceHashHack\/\">\/r\/NiceHashHack<\/a> analysing the hack and any movements of the bitcoins in question.<\/li>\n<\/ul>\n<ul>\n<li>That time when you <a href=\"https:\/\/twitter.com\/davidgerard\/status\/938428853726433280\">tweeted something<\/a> and Zero Hedge <a href=\"http:\/\/www.zerohedge.com\/news\/2017-12-06\/largest-crypto-mining-exchange-confirms-it-was-hacked-over-50-million-bitcoin-stolen\">based their NiceHash story on it<\/a>. Next up: <a href=\"https:\/\/rationalwiki.org\/wiki\/NaturalNews\">NaturalNews<\/a>, probably. (I wrote the line in <a href=\"https:\/\/rationalwiki.org\/wiki\/Zero_Hedge\">the RationalWiki article<\/a> about ZH predicting <a href=\"https:\/\/rationalwiki.org\/w\/index.php?title=Zero_Hedge&amp;diff=1281181&amp;oldid=1281180\">200 of the last 2 recessions<\/a>.)<\/li>\n<\/ul>\n<ul>\n<li>The Center for Evidence-Based Management&#8217;s interviews with blockchain people have <a href=\"https:\/\/www.cebma.org\/newsletter\/newsletter-summer-2017\/evidence-based-innovation\/\">just been published<\/a>, including one with me about the <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/book\/\">book<\/a>. Includes my six questions you can use on any Blockchain<sup>TM<\/sup> salesman! Interviews by Martin Walker, who also wrote <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2017\/11\/01\/news-securing-plutonium-unsecuring-trezor-twitter-nhs-wannacry-lse-review-of-the-book\/\">a nice review of the book<\/a> for the LSE blog.<\/li>\n<\/ul>\n<ul>\n<li>Preston Byrne on why Bitcoin isn&#8217;t a Ponzi scheme. <a href=\"https:\/\/prestonbyrne.com\/2017\/12\/08\/bitcoin_ponzi\/\">It&#8217;s a &#8220;Nakamoto scheme&#8221;<\/a> \u2014 no central controller, but it works very similarly. Phrase coined by <a href=\"https:\/\/twitter.com\/DontPanicBurns\/status\/939287907524927494\">@DontPanicBurns<\/a>.<\/li>\n<\/ul>\n<ul>\n<li>The Lightning Network is <a href=\"https:\/\/np.reddit.com\/r\/Bitcoin\/comments\/7ilclh\/lightning_network_passes_bitcoin_mainnet_testing\/\">imminent!<\/a> Probably! They still don&#8217;t seem to have routing beyond what <a href=\"https:\/\/en.wikipedia.org\/wiki\/UUCP#Mail_routing\">UUCP email<\/a> had in the 1980s\u00a0\u2014 where you had to work out the entire path from your computer to the other person&#8217;s computer, with the aid of network maps. It wasn&#8217;t really very reliable. (As far as I know, the general problem of routing from point A to point B in a gossip network is unsolved. I would love to be corrected if this isn&#8217;t the case.) Some LN proponents also seem to think they can keep a gossip network from naturally forming a more efficient hubs-and-spokes configuration by wanting it not to, which is as much wishful thinking as hoping mining wouldn&#8217;t recentralise.<\/li>\n<\/ul>\n<ul>\n<li>In <a href=\"https:\/\/youtu.be\/DHc81OL_hk4?t=21136\" target=\"_blank\" rel=\"nofollow noopener\">this video<\/a>, Adam Back is asked at the <a href=\"https:\/\/bh2017.hodlhodl.com\/\">Baltic Honeybadger 2017<\/a> conference how merchants in Arnhem can use Bitcoin when fees and delays for on-chain transactions are through the roof. His answer &mdash; admitting that Lightning isn&#8217;t wallet-ready &mdash; is: keep a tab off chain or something, and reconcile to the blockchain later. &#8220;Maybe the shops in the local area could make a shared tab.&#8221; So it&#8217;s official: the best way to use Bitcoin as a merchant is not to use Bitcoin. I can get behind that.<\/li>\n<\/ul>\n<ul>\n<li>This is a $100% accurate <a href=\"https:\/\/www.youtube.com\/watch?v=HSfeCOiRfgA\">video explanation of Bitcoin<\/a>. It&#8217;s also short. You should watch it.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<div class=\"jetpack-video-wrapper\"><span class=\"embed-youtube\" style=\"text-align:center; display: block;\"><iframe loading=\"lazy\" class=\"youtube-player\" width=\"735\" height=\"414\" src=\"https:\/\/www.youtube.com\/embed\/HSfeCOiRfgA?version=3&#038;rel=1&#038;showsearch=0&#038;showinfo=1&#038;iv_load_policy=1&#038;fs=1&#038;hl=en-GB&#038;autohide=2&#038;wmode=transparent\" allowfullscreen=\"true\" style=\"border:0;\" sandbox=\"allow-scripts allow-same-origin allow-popups allow-presentation allow-popups-to-escape-sandbox\"><\/iframe><\/span><\/div>\n<p>&nbsp;<\/p>\n<p>https:\/\/twitter.com\/aedison\/status\/939364568811307008<\/p>\n<p>https:\/\/twitter.com\/aedison\/status\/939365062992711682<\/p>\n<p>https:\/\/twitter.com\/aedison\/status\/939365727752085504<\/p>\n<p>https:\/\/twitter.com\/aedison\/status\/939487996092600320<\/p>\n<p>&nbsp;<\/p>\n<br><br><div align=\"center\"><p><a href=\"https:\/\/www.patreon.com\/bePatron?u=8420236\"><img src=\"https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2021\/10\/become_a_patron_button.svg\" alt=\"Become a Patron!\" title=\"Become a Patron!\" width=217 height=51><\/a><br><p style=\"align:center;\" class=\"patreon-badge\"><i>Your subscriptions keep this site going. <a href=\"https:\/\/www.patreon.com\/bePatron?u=8420236\">Sign up today!<\/a><\/i><\/p><\/div>","protected":false},"excerpt":{"rendered":"<p>Sure has been a busy couple of days, and I don&#8217;t just mean the Bitcoin price peak.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[168,300,288,301,233,6,206,40,256,36,299],"class_list":["post-2971","post","type-post","status-publish","format-standard","hentry","category-uncategorised","tag-bittrex","tag-cebma","tag-coinbase","tag-jacksfilms","tag-lightning-network","tag-links","tag-martin-walker","tag-nicehash","tag-patreon","tag-preston-byrne","tag-zero-hedge"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/2971","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/comments?post=2971"}],"version-history":[{"count":23,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/2971\/revisions"}],"predecessor-version":[{"id":2997,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/2971\/revisions\/2997"}],"wp:attachment":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/media?parent=2971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/categories?post=2971"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/tags?post=2971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}