{"id":3243,"date":"2017-12-18T22:34:21","date_gmt":"2017-12-18T22:34:21","guid":{"rendered":"https:\/\/davidgerard.co.uk\/blockchain\/?p=3243"},"modified":"2018-01-10T12:42:48","modified_gmt":"2018-01-10T12:42:48","slug":"news-illiquidity-cftc-on-the-bitcoin-market-parity-rescue-rejected-pr-academic-coi-more-stupid-bitcoin-forks","status":"publish","type":"post","link":"https:\/\/davidgerard.co.uk\/blockchain\/2017\/12\/18\/news-illiquidity-cftc-on-the-bitcoin-market-parity-rescue-rejected-pr-academic-coi-more-stupid-bitcoin-forks\/","title":{"rendered":"News: Illiquidity, CFTC on the Bitcoin market, Parity rescue rejected, PR, academic COI, more stupid Bitcoin forks"},"content":{"rendered":"<p><a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2017\/11\/02\/book-news-stock-up-on-50-foot-blockchains-for-christmas-with-affiliate-links\/attack-of-the-50-foot-blockchain-christmas-edition\/\" rel=\"attachment wp-att-1825\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-1825\" src=\"https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2017\/11\/attack-of-the-50-foot-blockchain-christmas-edition-240x300.jpg\" alt=\"\" width=\"240\" height=\"300\" srcset=\"https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2017\/11\/attack-of-the-50-foot-blockchain-christmas-edition-240x300.jpg 240w, https:\/\/davidgerard.co.uk\/blockchain\/wp-content\/uploads\/2017\/11\/attack-of-the-50-foot-blockchain-christmas-edition.jpg 600w\" sizes=\"auto, (max-width: 240px) 100vw, 240px\" \/><\/a><\/p>\n<ul>\n<li>Important stuff first: you can still get <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/book\/\"><em>Attack of the 50 Foot Blockchain<\/em><\/a> to that relative who desperately needs vaccination against bitcoins for Christmas! <a href=\"http:\/\/amzn.to\/2B9YLtA\">UK<\/a>, <a href=\"http:\/\/amzn.to\/2CZAvr9\">US<\/a>. Save them while you can! And make sure you have a copy to defend yourself with over Christmas dinner. Show everyone <a href=\"https:\/\/twitter.com\/davidgerard\/status\/938869119914520577\">Mr. Bitcoin<\/a> on page 77, that should do the trick.<\/li>\n<\/ul>\n<ul>\n<li><a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2017\/12\/17\/why-you-cant-cash-out-pt-1-why-bitcoins-price-is-largely-fictional\/\">Yesterday&#8217;s post<\/a> went viral and, at 35,000 hits so far, is the second most popular thing I have ever written anywhere. (First is a lament on <a href=\"https:\/\/rocknerd.co.uk\/2013\/09\/13\/culture-is-not-about-aesthetics-punk-rock-is-now-enforced-by-law\/\">the plight of the musician in the modern era<\/a>, now-third is <a href=\"https:\/\/rocknerd.co.uk\/2017\/02\/05\/whatever-happened-to-winamp-which-you-can-still-download-by-the-way\/\">a history of Winamp<\/a>.) So I guess the next few parts better deliver!<\/li>\n<\/ul>\n<ul>\n<li>Per my headline yesterday: <a href=\"http:\/\/uk.businessinsider.com\/bitcoin-is-illiquid-transaction-times-2017-12\">Why you won&#8217;t be able to cash out your paper winnings when the bubble bursts<\/a>. Please, at least cash out what you spent, or you&#8217;ll end up where I&#8217;ve realised more actual money from Bitcoin than you, without touching one.<\/li>\n<\/ul>\n<ul>\n<li>That <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2017\/12\/17\/why-you-cant-cash-out-pt-1-why-bitcoins-price-is-largely-fictional\/\">list of market shenanigans<\/a> in my post of yesterday is pretty much a shorter version of the one the CFTC put into its proposal concerning <a href=\"http:\/\/www.cftc.gov\/idc\/groups\/public\/@newsroom\/documents\/file\/federalregister121517.pdf\">Retail Commodity Transactions Involving Virtual Currency<\/a> (PDF), which I&#8217;ve just added to that post:<\/li>\n<\/ul>\n<blockquote><p>Beyond their practical and speculative functions, the emergence of these nascent markets has also been negatively marked by a variety of retail customer harm that warrants the Commission\u2019s attention, including, among other things, flash crashes and other market disruptions,<sup>52<\/sup> delayed settlements,<sup>53<\/sup> alleged spoofing,<sup>54<\/sup> hacks,<sup>55<\/sup> alleged internal theft,<sup>56<\/sup> alleged manipulation,<sup>57<\/sup> smart contract coding vulnerabilities,<sup>58<\/sup> bucket shop arrangements and other conflicts of interest.<sup>59<\/sup> These types of activities perpetrated by bad actors can inhibit market-enhancing innovation, undermine market integrity, and stunt further market development.<\/p><\/blockquote>\n<ul>\n<li>Parity asked for a rescue plan after its <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2017\/11\/08\/the-ethereum-parity-wallet-disaster-play-by-play\/\">August wallet disaster<\/a> that left hundreds of millions of dollars in ether completely inaccessible. The Ethereum community says: <a href=\"https:\/\/www.financemagnates.com\/cryptocurrency\/news\/parity-back-drawing-board-community-rejects-rescue-plan\/\">&#8220;yeah, no.&#8221;<\/a><\/li>\n<\/ul>\n<ul>\n<li>Quinn DuPont: <a href=\"https:\/\/www.facebook.com\/notes\/cryptocurrencies-and-blockchains-book\/owning-bitcoin-is-ethically-wrong-for-academics\/1938906386436109\/\">Why owning bitcoin is an unethical conflict of interest for academics who talk about it<\/a>. Much as with journalists.<\/li>\n<\/ul>\n<ul>\n<li><a href=\"https:\/\/thenextweb.com\/contributors\/2017\/12\/18\/bitcoin-cryptocurrencies-next-public-relations-landmine\/\">Why Bitcoin And Cryptocurrencies Are The Next Public Relations Landmine<\/a>. PR people, when we ask you an even slightly difficult question, you having to go back to your client and us having to wait forever <em>does not help your cause<\/em>. Please help us help you, and know in detail about what on earth you&#8217;re pitching.<\/li>\n<\/ul>\n<ul>\n<li>Yet more <a href=\"https:\/\/coincentral.com\/the-upcoming-bitcoin-hard-forks-what-you-need-to-know\/\">Stupid Bitcoin Forks<\/a>, to go with <a href=\"https:\/\/davidgerard.co.uk\/blockchain\/2017\/11\/20\/there-can-only-ever-be-21-million-forks-of-bitcoin-a-survey-so-far\/\">the others we&#8217;ve had so far<\/a>. Some of these even have code and not just a website!<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"und\" dir=\"ltr\">lol <a href=\"https:\/\/t.co\/lvKrV1AeX3\">pic.twitter.com\/lvKrV1AeX3<\/a><\/p>\n<p>&mdash; irish-american spaghetti factory (@KrangTNelson) <a href=\"https:\/\/twitter.com\/KrangTNelson\/status\/942799745768189952?ref_src=twsrc%5Etfw\">December 18, 2017<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>https:\/\/twitter.com\/Bitfinexed\/status\/942295016604667906<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">&quot;No one complains about the environmental impact of goldmining&quot; is such a fractally stupid defense of bitcoin that I&#39;m genuinely impressed<\/p>\n<p>&mdash; Rough Beast Stan Account (@SamFateKeeper) <a href=\"https:\/\/twitter.com\/SamFateKeeper\/status\/942156464218628096?ref_src=twsrc%5Etfw\">December 16, 2017<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\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\/v6A5a-yN6QY?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 style=\"text-align: center;\"><a href=\"https:\/\/web.archive.org\/web\/20130427052442\/http:\/\/www.cyberbeans.org\/\">CyberBeans.org, 2013<\/a><\/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>The most important news, of course, is that you still have time to get that relative who&#8217;s telling you about Bitcoin that paperback of <i>Attack Of The 50 Foot Blockchain<\/i> for Christmas!<\/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":[12,167,6,229,182],"class_list":["post-3243","post","type-post","status-publish","format-standard","hentry","category-uncategorised","tag-attack-of-the-50-foot-blockchain","tag-cftc","tag-links","tag-parity","tag-quinn-dupont"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/3243","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=3243"}],"version-history":[{"count":19,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/3243\/revisions"}],"predecessor-version":[{"id":4015,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/posts\/3243\/revisions\/4015"}],"wp:attachment":[{"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/media?parent=3243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/categories?post=3243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/davidgerard.co.uk\/blockchain\/wp-json\/wp\/v2\/tags?post=3243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}