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Nephzinho posted:Total or recently? total. last 5 days is 550mil USDT though lol
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Jan 19, 2018 22:48
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Inept posted:Fax machines are dumb and antiquated but they're more secure than a lovely doctor's office computer and are cheap enough to run. More and more fax machines are just networked scanner/copier/printer/fax combos though, so your doctor's office fax is probably still part of some botnet and some guy in Eastern Europe has all of your health records. Yeah, that's why I think that blockchains could fit that part of Hipaa's criteria.
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Jan 19, 2018 22:48
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I understand the concept of Tether and the reasons that an exchange would print gobs of it in order to prop up the value of buttcoin traded there. What I don't get is why other exchanges are accepting these Chuck E. Cheese tokens and allowing them to be swapped for USD.
AARP LARPer fucked around with this message at 22:54 on Jan 19, 2018 |
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Jan 19, 2018 22:52
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Dadbod Apocalypse posted:I understand the concept of Tether and the reasons that an exchange would print gobs of it in order to prop up the value of buttcoin traded on it. What I don't get is why other exchanges are accepting these Chuck E. Cheese tokens and allowing them to be swapped for USD. The other exchanges just allow the true believers to trade them between themselves, and then the exchanges skim off every transaction. They aren't holding tether themselves
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Jan 19, 2018 22:55
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Dadbod Apocalypse posted:What I don't get is why other exchanges are accepting these Chuck E. Cheese tokens and allowing them to be swapped for USD. The exchanges make fees on everything (NO FEES!) and don't (supposedly) buy/sell anything directly, they just match sellers to suckers e: drat, forked the comment chain again. I need a better mining rig
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Jan 19, 2018 22:56
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QuarkJets posted:I've been using blockchains for over a decade it's called git lol
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Jan 19, 2018 22:56
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Lemming posted:The other exchanges just allow the true believers to trade them between themselves, and then the exchanges skim off every transaction. They aren't holding tether themselves Okay, got it. Makes "sense." But is there any way for some poor slob to go Buttcoin-->Tether-->USD ? In other words, how is it possible to pull $$ out of one of these Tether-backed exchanges?
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Jan 19, 2018 22:58
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turn off the TV posted:Yeah, that's why I think that blockchains could fit that part of Hipaa's criteria. Hospitals are incredibly reluctant to let any data outside of their 4 walls, encrypted or not.
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Jan 19, 2018 22:58
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Dadbod Apocalypse posted:Okay, got it. Makes "sense." Yup through a couple of the exchanges, but not all.
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Jan 19, 2018 22:58
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Dadbod Apocalypse posted:Okay, got it. Makes "sense." Try to sell tether through Craigslist and hope when you meet up you don't get stabbed
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Jan 19, 2018 23:00
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Communist Q posted:Yup through a couple of the exchanges, but not all. That's what I don't get; why are they buying Tether for USD when they're not the issuer of said Tether? I hesitate to say "It makes no sense" because lol, but they have to know it's worthless, right?
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Jan 19, 2018 23:00
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Dadbod Apocalypse posted:That's what I don't get; why are they buying Tether for USD when they're not the issuer of said Tether? I hesitate to say "It makes no sense" because lol, but they have to know it's worthless, right? so they can use the tether to buy BTC or other crypto, sometimes on other exchanges (you don't want to transfer BTC between exchanges because of fees). i think some exchanges don't allow direct USD-BTC for some reasons?
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Jan 19, 2018 23:04
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turn off the TV posted:Healthcare organizations in the United States (sometimes) use EDI formatted material that is Hipaa compliant, but a lot of documents that are supposed to be more secure are "electronically" transferred via fax machines. Actual transfers of electronic records that don't involve faxes need to be encrypted and all that garbage. Pretty much every doctor that I have ever been to or worked for needed to have poo poo faxed between offices. Yeah doctors who won't take the steps to implement edi and ftp for records will surely make the leap to block chain. Sound logic.
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Jan 19, 2018 23:04
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Quotey posted:so they can use the tether to buy BTC or other crypto, sometimes on other exchanges (you don't want to transfer BTC between exchanges because of fees). i think some exchanges don't allow direct USD-BTC for some reasons? Thanks for the explanation; I think I've got it, but now my head hurts.
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Jan 19, 2018 23:05
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If you want a more detailed explanation, check my post history in this thread, but you've got the gist of it. There's a lot sloshing around, but it's constantly changing hands.
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Jan 19, 2018 23:08
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Nill posted:Does anyone still own Flooz? Relaunch that poo poo as an alt-coin and hype it up as the Trusted, Original Digital Currency while leaning hard into Web 1.0 nostalgia. Wikipedia posted:In 2001, Flooz.com was notified by the Federal Bureau of Investigation that a Russian organized crime syndicate was using Flooz and stolen credit card numbers as part of a money-laundering scheme, in which stolen credit cards were used to purchase currency and then redeemed.[2] Levitan has stated that fraudulent purchases accounted for 19% of consumer credit card transactions by mid-2001.[3] Lol history loving repeats itself so much
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Jan 19, 2018 23:11
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dick wizard posted:Yeah doctors who won't take the steps to implement edi and ftp for records will surely make the leap to block chain. Sound logic. Andy Dufresne posted:Hospitals are incredibly reluctant to let any data outside of their 4 walls, encrypted or not. I'm not sure what you think EDI is, but EDI in terms of Hipaa is standardized documents with faxing being the electronic transfer component, because when you send a fax you are sending one copy of the EDI compliant form to the destination. Emailing an actual file with the document would potentially allow it to be duplicated, which is illegal, because you're just downloading a copy of the file from an email that potentially anyone can read. This is why I think that blockchains would work, because (I guess?) the data could be encrypted and could be sent to healthcare providers as one time transactions. This paper written by people without brain damage probably does a much better job of describing why it'd be a passable solution (although I agree that getting anything standardized would be hard since part of that in the ACA was killed by the GOP) http://mcdonnell.mit.edu/blockchain_ehr.pdf
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Jan 19, 2018 23:39
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Devian666 posted:US dollar went off the gold standard in 1971 so the exchange rates floated at market rates. There was the oil crisis in 1973 and 1979 but then a lot of oil production came online (oil is priced in USD). Then Milton Friedman's concepts started coming into effect which was the start of neoliberalism and modern monetary theory. Fiat...good?
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Jan 20, 2018 00:04
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let it mellow posted:maybe that was before they printed 100 mil, the day bitcoin discovers fractional reserve scamming lmao
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Jan 20, 2018 00:13
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turn off the TV posted:I'm not sure what you think EDI is, but EDI in terms of Hipaa is standardized documents with faxing being the electronic transfer component, because when you send a fax you are sending one copy of the EDI compliant form to the destination. Emailing an actual file with the document would potentially allow it to be duplicated, which is illegal, because you're just downloading a copy of the file from an email that potentially anyone can read. This is why I think that blockchains would work, because (I guess?) the data could be encrypted and could be sent to healthcare providers as one time transactions. So they're trying to come up with a way to basically track the latest complete state of a patient's record so they can produce an EMR on the fly. The thing is there's a lot of healthcare software that already does this and it's not clear what benefit the blockchain would offer other than being able to track the history of changes (which existing applications already do). There are customer portals where patients can download the latest state of their EMR or have it emailed and/or faxed to other providers in a HIPAA compliant way today.
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Jan 20, 2018 00:16
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turn off the TV posted:I'm not sure what you think EDI is, but EDI in terms of Hipaa is standardized documents with faxing being the electronic transfer component, because when you send a fax you are sending one copy of the EDI compliant form to the destination. Emailing an actual file with the document would potentially allow it to be duplicated, which is illegal, because you're just downloading a copy of the file from an email that potentially anyone can read. This is why I think that blockchains would work, because (I guess?) the data could be encrypted and could be sent to healthcare providers as one time transactions.
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Jan 20, 2018 00:17
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Volume average at 150, then this happens soon after 100M tether printed this morning 3K buy volume in less than 5 minutes.
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Jan 20, 2018 00:18
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Just gonna hide some CP on your blockchain and watch you distribute it through your healthcare system.
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Jan 20, 2018 00:19
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Alpha Mayo posted:Volume average at 150, then this happens soon after 100M tether printed this morning I don't know a whole lot about trading, but this seems... odd.
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Jan 20, 2018 01:59
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Because it is odd. Someone bought a shitload all at once, likely clearing out all the sell orders below a certain price. Likely with a giant wad of 100M IOUbux.
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Jan 20, 2018 02:18
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Alpha Mayo posted:Volume average at 150, then this happens soon after 100M tether printed this morning No y axis?
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Jan 20, 2018 02:25
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Turmoil posted:I'm ready. I’ll give you a rough Peggle Night 😈
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Jan 20, 2018 02:27
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How long until people go to make tether withdraws and they can't be covered and the whole thing collapses? I imagine the saga is drawing to a close and Bitfinex or whoever runs tether is just propping up the price to sell out before disappearing. I assume there will be a mad rush to convert USDT to actual dollars soon if it isn't underway already.
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Jan 20, 2018 02:28
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onesixtwo posted:I don't know a whole lot about trading, but this seems... odd. It means someone cleared out the order book. It was at 10900, then they cleared it out to 11600. If you are wanting to $30+ million shares (or "coins"), it makes more sense to spread that out over time, since doing it in one big chunk is the most expensive way to do it. Virtue posted:No y axis?
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Jan 20, 2018 02:33
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Marketing New Brain posted:How long until people go to make tether withdraws and they can't be covered and the whole thing collapses? I imagine the saga is drawing to a close and Bitfinex or whoever runs tether is just propping up the price to sell out before disappearing. I assume there will be a mad rush to convert USDT to actual dollars soon if it isn't underway already. I was shocked to see that the tether reddit is people actively trashing tether, so probably soon https://www.reddit.com/r/Tether/
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Jan 20, 2018 02:34
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So someone tried to explain the legitimacy of tether to me like this: Tether issuance increases during sell offs because exchanges/whales are using it to arbitrage during limited liquidity events when large price discrepancies appear on different exchanges. USDT is being bought by exchanges/whales to operate the arbitrage. 1) Whale buy 9000 USDT for USD 1) Someone sells 1 BTC for 9000 USDT on Bitfinex to whale 2) Whale takes the BTC and sells it on GDAX for 9500 USD 3) Whale pockets the 500 USD profit There's a hole here in this narrative, but its not immediately apparent to me. EDIT: also important in this - USDT buyers want to hide their business and don’t want to be KYCed, exchanges are avoiding regulations, so that is why they deal in USDT. hostile apostle fucked around with this message at 02:58 on Jan 20, 2018 |
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Jan 20, 2018 02:40
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Andy Dufresne posted:So they're trying to come up with a way to basically track the latest complete state of a patient's record so they can produce an EMR on the fly. The thing is there's a lot of healthcare software that already does this and it's not clear what benefit the blockchain would offer other than being able to track the history of changes (which existing applications already do). There are customer portals where patients can download the latest state of their EMR or have it emailed and/or faxed to other providers in a HIPAA compliant way today. Emailing stuff in a Hipaa compliant way costs a decent amount of cash (afaik) and isn't readily available, and faxing is a gigantic waste of time and resources. I don't know if a blockchain would be an actual solution, but it's a thing that could potentially work and provide real value, which is more than I could have ever asked for out of something so closely tied to bitcoins. zedprime posted:Speaking of standardizing being a bitch, system inplementers aren't even the safe investment because they are a little block chain gun shy for all their bravado until they can strongarm standards because the number one benefit of current schemes is they are simple and common. An EDI is just a read once email but it's got common bits to healthcare, finance, supply chain etc. And block chain is going to need the same commonality because the distributed version is poo poo so everyone's going to have their own local one and it needs to talk to everything just as easy as an EDI does now or else you just have a database that is fancy for no real reason because it's still talking to the world through an OCR on a fax machine. IIRC standardization and implementing universal systems was part of the pitch for the ACA that got cut because some Oklahoma senator didn't want to have to use a different form in his dentist office.
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Jan 20, 2018 02:42
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and I wonder what the purchasing power of a bitcoin is.....
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Jan 20, 2018 02:46
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If tether keeps printing at the rate they are, the ultimate collapse is going to come a lot faster than I would have expected.
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Jan 20, 2018 02:47
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QuarkJets posted:Cryptocurrencies are so lovely but hype-driven that IBM looked at them and said "we can definitely do better than this poo poo", produced a distributed database, and named it Blockchain to cash in on the hype. Then they published an article on their website on why bitcoin is garbage but their proprietary Blockchain solution is tight (because a distributed database that doesn't have to be trustless can be really fast, efficient, and scales easily). and of course the 0 to date production systems Dadbod Apocalypse posted:I understand the concept of Tether and the reasons that an exchange would print gobs of it in order to prop up the value of buttcoin traded there. What I don't get is why other exchanges are accepting these Chuck E. Cheese tokens and allowing them to be swapped for USD. i am frankly loving baffled that the markets, even the crypto markets, are treating this piece of poo poo as being worth an actual dollar i have to write this up this weekend, i say "have to" because i literally have MY WIFE nagging me to write it up before it explodes
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Jan 20, 2018 02:48
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The best thing in the world would be for it to blow up shortly after your paper/book is published and you personally get blamed for the entire crypto crash
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Jan 20, 2018 02:50
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Also dibs on your boom box after you get murdered
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Jan 20, 2018 02:51
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divabot posted:i am frankly loving baffled that the markets, even the crypto markets, are treating this piece of poo poo as being worth an actual dollar Lol why is this past the limit of what will flummox you
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Jan 20, 2018 02:58
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I'm still trying to wrap my head around Tether. Could someone dumb it down to the level that say a true believer could understand? Best I can come up with it is Paypal for crypto.
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Jan 20, 2018 02:58
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100M USDT just printed again https://twitter.com/tetherprinter/status/954533642038009856
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Jan 20, 2018 02:59
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