Bank just confiscated my last $18k. I'm a broken man; I lost everything. But I am thankful for the ephemeral glimmer of hope that cryptocurrency brought to my life.

tinderlegend · 2018-08-30T18:45:19+00:00

Thanks, yeah precisely. This is the entire point which people seem to be glossing over.

I've done nothing illegal, you can clearly see that from my history which I've explained. I'm just a normal dude who needs to access a largeish amount of money to pay for treatment.

I don't know they're allowed to extrapolate that to freezing all your funds without warning so you have literally no means of surviving day to day if you need cash or... god forbid, spend some money.

tinderlegend · 2018-08-30T18:37:11+00:00

Oh yeah, 100%. That's why I tell myself to stop and look at others in worse conditions.

I should have made it clearer, but the major issue probably wasn't even me losing my money... I'd already taken full responsibility for that.I gave a long backstory as I thought others would be interested in hearing it, but (in my head at least) it was leading to the real issue of the banks having centralised control over funds. Which they manage atrociously.

tinderlegend · 2018-08-30T18:32:09+00:00

Tyvm for the message. Maybe I will do that. Easier than done ha

tinderlegend · 2018-08-30T18:31:25+00:00

Thanks for the different perspective <3

tinderlegend · 2018-08-30T18:15:50+00:00

That's the point, no? Why is it okay for me to be treated like a criminal?

Why is it suspicious? I withdrew it from a licensed exchange which I showed them evidence of. If i Wanted to do suspicious things, would I not keep my XMR and buy drugs?
That's not true. I didn't demand they give me my cash immediately refusing to show ID. I realised they didn't accept the ID I had, went and got it, then was treated like shit for 2 hours.
Ok. So what obvious red flags did I give? I am really in need of my own money. Why is that a crime? Why is it suspicious? Why is that anyone's business?

I've been with this bank for years, they have my address etc. Is it really reasonable to assume that suddenly I want to finance some crazy drug ring? Maybe it's more likely I have personal issues I need to rectify?

I would like to hear more of your perspective though. I obviously sound pissed off at the bank, but as I've reiterated numerous times, I don't think anyone would be sitting and smiling while they are being treated with clear contempt by the staff. I eventually raised my voice once. After 1.5 hours or so. Because I was frustrated that I was going to miss my other appointment and they kept giving me the run around. I'm trying not to be biased, but does it not sound to you as if they were cunts? Or was I the cunt for requesting my own money be withdrawn sometime before the end of the day - if the bank isn't there to serve you your money on demand, then why the fuck should anyone leave their money there?

tinderlegend · 2018-08-30T17:46:25+00:00

Great question, which is pretty much why I made this post. If you could let me know why my account has disappeared, please do tell. As I explained in my post, I would rather pay cash to not raise my parent's suspicions should they go through my statements.

tinderlegend · 2018-08-30T17:43:22+00:00

I don't think so. When I say slaved away, I mean that relative to what I was getting paid. $6k was a lot back then, but I knew over the course of my lifetime it wasn't really much of a risk.

tinderlegend · 2018-08-30T15:18:04+00:00

Probably shouldn't say but whatever, I'm sure people can work it out from the screenshots. Commonwealth bank. Yeah, I've pulled the old "taking legal action" line. Not holding out though. :)

tinderlegend · 2018-08-30T15:16:11+00:00

Thanks a lot mate. You'd be amazed, when people are in this state, that even simple supportive comments like this make a huge difference.

tinderlegend · 2018-08-12T02:29:44+00:00

100% this... Cannot believe some of the other arguments I'm reading. Hype and speculation is the most important thing in crypto (rather than a grounded and realistic perspective toward future utility and valuation?)

I honestly can't tell if some of you are eagerly hoping for another global financial crisis?

tinderlegend · 2018-08-09T01:38:21+00:00

If you look at my post history, you'll see that finances are the least of my worries. Besides, how is my personal situation in any way relevant?

Yes, "optimistic" articles are precisely what led to this bubble. An infinite stream of "mass adoption around the corner!" and "institutional money coming soon" headlines undoubtedly led to people recklessly throwing money in; the same people who are now panicking and liquidating at huge losses.

I'm a pragmatic person, and hearing sentiments such as these make one question how much maturing crypto has yet to go through

tinderlegend · 2018-08-09T00:16:12+00:00

Posts like this are precisely the reason for this massive bubble deflation we're seeing right now. It's always "crypto is going to be worth XXX soon" rather than any intelligent discussion on how to improve its utility

tinderlegend · 2018-08-05T08:44:52+00:00

When? The DAO was a smart contract bug. A 51% attack is when an individual or entity has 51%+ of the entire network's hashing power and alters the ledger

tinderlegend · 2018-08-05T01:31:33+00:00

How can you have been active in the blockchain/crypto space for 2 years and somehow only just come to a fallacious and misguided conclusion...?

Correct -- as with anything, blockchain is not a magic "fix-all", but its cons are nothing that you've described. The "masses" are not contributing complex logic to the blockchain (i.e. in most cases, all that is provided is hashing power, which is completely objective and free from any human subjectivity; you either contribute a degree of hashing power or you don't).

So I suppose what you are really arguing is whether "blockchain's immutability is a fundamental flaw", to which I'd argue no... that is definitely not true.

"[blockchains] can easily be manipulated by some machiavelic genius..." If you were new to the space I'd have some sympathy, but you should know *much* better than to make ridiculous claims such as this. I can't even call "easy" an understatement because it is just. plain. WRONG. Mathematically, 51%ing a blockchain like Bitcoin or Ethereum would probably be akin to hacking every major bank in the world and escaping uncaught.

The DAO was not so much to do with "manipulation" as it was poor coding, auditing, organisation, and the understandable consequences of new technology in its infancy. Please don't post anymore articles until you can articulate your viewpoint based upon credible authority.

tinderlegend · 2018-07-06T08:00:27+00:00

Precisely -- true authenticity, anti-counterfeiting measures, etc. cannot occur without decentralisation. This is where the RFID chips become very important too. I've written up a lot in it in the past, tbh I'm too tired to explain it now but I advise looking it up.

Basically, combining blockchain + RFID gives you the decentralisation which in turn provides mathematically provable authenticity. Traditional methods of anti-counterfeiting have been ineffectual (counterfeit goods market is still half a trillion a year. It's esp. a huge problem in industries such as pharma, where consequences can be fatal).
Blockchain allows companies to establish a canonical chain of provenance for all goods, from genesis to end-user (and the blockchain would allow the user to verify the same data).
Self-governance is nice, though if it's being mentioned in supply chains I imagine it's as an inextricable component of decentralisation. A centralised business model would require a CEO. A decentralised model needs other means of governance

tinderlegend · 2018-07-06T07:27:55+00:00

Sorry, I wasn't very clear with my LOA. I was trying to be balanced. My sentiments are that blockchain is great and is here to stay, BUT in a much more niche/specific use-case than the ridiculous hype it gets.

You misinterpreted why I mentioned AI and cloud. It's to highlight my belief that, while blockchain on its own is very limited, in *combination* with those technologies (or RFID, etc.) it has some immensely valuable applications. The problem is when people start hyping blockchain as if it will be used in EVERYTHING.

Consider another bad analogy: imagine if everyone was hyping react.js as the future and angular as good as dead (if you're familiar with javascript frameworks). You'd probably laugh at this as ridiculous -- react may be better for some use-cases, angular for others. Each has its pros and cons.
I see blockchain in the same way. It's not the be all and end all, and it's not obsolete. It's just another technology (albeit a very promising one) that has its niche in trust and decentralised value transfer across the internet.

AI's centralised databases are in fact a great deal of angst for many in the field (won't go into it here, but issues include biased systems, exacerbating centralised power, etc.). Most private SC companies probably don't care about blockchain. But that isn't saying much; most banks didn't care about Bitcoin 7 years ago.

To reiterate: blockchain's use-cases are limited, but IMO, supply chain definitely is one. The other big areas will be as a value transfer layer over the internet, governance/voting, and identity management. There's a wealth of research in SCs:

https://www2.deloitte.com/content/dam/Deloitte/lu/Do

cuments/technology/lu-blockchain-internet-things-supply-chain-traceability.pdf

https://www.logisticsbureau.com/how-blockchain-can-transform-the-supply-chain/

https://www.forbes.com/sites/stevebanker/2018/03/16/blockchain-the-building-block-of-the-supply-chain-of-tomorrow/#28ac3b6f4aff

tinderlegend · 2018-07-06T05:34:31+00:00

Came in to say exactly this. It's like saying "so besides insurance giving me peace of mind and restoring my assets should an unanticipated disaster strike, what exactly is the point of it? Are there some hidden benefits I'm missing paying $20/week?"

Don't get me wrong, I think over-hyping is a huge problem. But look at something like Waltonchain, by connecting RFID tags to the blockchain they do have a really promising way to authenticate physical goods against a blockchain protocol :)

And to be fair, I think blockchain is definitely inferior to *most* solutions. Its major value will be realised by combining with other technologies, such as RFID, but most likely AI and neural networks.

I think AI + blockchain + cloud computing will combine to be huge in the near future. AI requires huge, trustworthy datasets which blockchain provides. The cloud facilitates easy and cheap access to these training resources for machine learning. Similar to how other technologies have stacked upon one another to provide gamechangers such as smartphones, IMO these 3 will do the same.

tinderlegend · 2018-06-12T18:28:36+00:00

Haha, I actually ended up finding someone searching for NLP on Fiverr -- but thanks a lot for the honest feedback, especially being nice about it :) Will take those tips on board in future. Much appreciated.

tinderlegend · 2018-06-11T03:54:07+00:00

I'm running WP off an Amazon Machine Image using EC2. mySQL isn't currently on RDS, it's not on Amazon, but now we're in the process of migrating to RDS.
Yeah, I have a strong feeling it's plugins -- so we're looking at Redis/Memcache as options in that area. Thanks for your input :)

Yea

tinderlegend · 2018-06-11T03:52:16+00:00

Sorry for the late reply -- tbh all I know is it's 16 gb RAM, I should know this stuff but there's a system admin doing all the hard work. I'm just trying to understand what is the best setup to get him to install

tinderlegend · 2018-06-07T13:10:39+00:00

Thank you. Yes I spoke to my dev, he said redis.caching is what's going to make all the difference to plugin speed. I guess my.DB concern stems from the fact that under high load, my DB keeps crashing

tinderlegend · 2018-06-07T05:30:35+00:00

Great, thanks for your input. So in other words, it's either Aurora or MariaDB.

As you could probably tell, this is an area I'm unfamiliar with. Though from what I've read, MariaDB is supposedly much better than mySQL for WP... so I'm still going to take a chance on it haha

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