Before Crypto currency can own the future, it’s going to have make friends with stable technology. Yep, I said it. Sure, it’s cool and all that the crypto industry has created over $60 billion in new wealth, out of NOTHING, but if you can’t access it half the time, what’s the use?
I do realize that half of the problem is that Crypto world has been, up until this time, the domain of more technically adapt personages than myself, who eat code for breakfast and don’t give a binary rat’s ass about “user interfaces” and creating an “intuitive user experience”. I get that, but when it’s more difficult to exchange coins, than it apparently is to onboard a United States President.
(just kidding, that particular protocol is apparently non-existent) it’s a bit ridiculous.
If we want the world to come and join us, taking the balance of power away from institutions like the Federal Reserve bank, we’ve got a very narrow window of time. Right now, when so many made millions off of Bitcoin is a unique opportunity, but there are issues.
Let’s start with access. How hard is it to keep a wallet accessible, or fix it when it goes down? “Monetary challenges” what does that mean, Poloniex, are you reinvesting my coins, taking the profits and leaving me out of it? Huh? And in a world where instant gratification is the goal, we’ve got to do better than a 48 hour turnaround on these completely useless support replies that remind us of the clearly stated information, the wallet is “temporarily unavailable” yeah, I get that.
But for how long?
Then there’s the panic factor. A couple of weeks ago, an exchange goes down and causes a mass sell off of bitcoin, plunging the price. Was this intentional? Or just a glitch? Either way, if this had happened after a worldwide acceptance of bitcoin, it could have sparked a war! Seriously, poloniex, Coinbase, you guys get it together!
I know, it’s easy for me to say, after all, I need special software to help me post to steemit, my tech is so weak, but look, if gargantuan corporations filled with greedy idiots like Bank of America, can keep their ATM network running 99% of the time, can’t we do at least as well? Seriously!
Then, there’s the freaking lag. I get it, we have to get each transaction verified, but seriously, up to a day? We need more Oompa Loompas in there getting this stuff done, right away! Come on, Wonka, what’s the hold up? Send another boatload on over, let’s get this thing rolling.
Scaling up to a global financial system at this stage would be a disaster. But, what is the solution, seriously? From the Wall Street journal experts perspective, it’s about lack of regulation. Seriously? Were you here for the housing bubble? Yeah, how’d that go?
Right.
In my mind the worst thing that could possibly happen to crypto would be centralized banks getting their fat tentacles around any part of it and squeezing the life out of it. They’ll kill it, if they can, because they can’t join in, it’s decentralized y’all, and that doesn’t fit into World Domination Protocols!
And this is why it’s seriously critical we get our crap together and soon. If we don’t get enough users on board before the IRS takes over, it will be too late. Once it’s wide spread enough to be supporting millions of house payments and funding college educations, we have some leverage, but right now, in its infancy, letting them in would be a huge mistake, but we have to be careful!
Here’s how it happens: first, a new financial instrument or platform finds success. Then it gains acceptance. Then the sh*t hits the fan when the tech breaks down, or someone gets robbed, or any number of other things keep people from the “money” they were making fun of last night at dinner, but now can’t live without and all hell breaks loose.
They go to the press, with their “story” then someone says, “We should do something!” and someone at NSA headquarters says, “What’s that Lassie? Timmy’s down the well?” er uh, “Bitcoin did what?” then they pick up the phone and get the chairman of the fed on the line, and he calls congress and before you know it, we need a license to carry a “bitcoin wallet” which isn’t even a physical thing, but these idiots are too stupid to even figure that out!
So, Poloniex, for the love of Oompa Loompas! Get the steem wallets fixed, please? Before someone has a conniption that makes it into the news and we’re all forced to ask permission before cashing out our next payout!
I have honestly been defending Coinbase for the last few days on here to posts just like this. You are here to trash talk and place blame to where they have no education on the subject. Then you come along and make so much dam sense that I about choked on my Pabst Blue Ribbon. Seriously! Gets your s*** together financial institutions of crypto. Don't do shaddy s. Just make your site run and do it within legal parameters and we will all profit massively. Not only will we profit but we might actually disrupt the current oligarchy that runs the lovely world. By the way, F off for being right @markrmorrisjr! I mean that in the nicest steemit way🤗
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LOL, thanks, I hate that I'm right.
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It's like, why can't I be right every time!
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HA! Well, only if I could right in foresight, so that I never put my dang coins into an exchange with the wallet temp disabled!
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Yeah, I am a little worried about how it is all going to go down the day I want to cash out. Maybe it will be better to just wait however many years necessary to just pay for everything in Steem and SBD.
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if we end up having to convert our cryptocurrency to fiat to pay the bills or to buy mai tais, we are still losing (especially long term). we must accept and pay with cryptos so that people don't have to "cash out". it helps if we all stop looking at cryptos as a get rich scheme/temporary investment vehicle instead of a replacement for the banksters' usury pyramid.
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LOL, well that's one way to go, but that day may never come. We shall see.
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It's a race to go mainstream and outrun regulation, just like it was with the internet.
This gets me excited about Steemit. It's the only thing in crypto that is reasonably consumer friendly and growing fast.
Once users have some coin in their wallet, and hold their own keys, they're not going to give them up without a fight.
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Let's hope! That or let me cash out a couple mil, before it goes up in flames! LOL
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thats rigght! and we ARE the ONLY user frendly crypto that inly needs a USERNAME to sen and recieve money! NO other blockchain as that not bitcoin not ethereum!
Just wait untill you can run turing complete operations using steem blockchain with EOS and we could becme an etheereum killer too haha why not
nah we will work with etherum, jst lik eos, well u could run etheum on eos or eos on ethereum
well yes we wont gve up wthout a fight
and yes a RACE to go maintream and outrun regulations since SO many peopel will have steemit accouts theyll NEVER be able to audit them all Just like poloniex ALSO if poloniex had to startregulating or annoounced that they would haveto start taing profits out of accounts or reporting profits for illegal "capital gains tax" which NEVER appkied to bitcoin or crypto, then peopel will just withdraw everthing fro their poloniex accounts!
hahha yes the governent will NEVE lear that they lost!
Any exchange that begins to do AYTHNG sketchy will simply fail and noone will use them!
I think the givernment nows his and just wants to scare people int paying taxes, or SOME people in the government know this
there wilbe no compromose , an we will prevail
theres too many of us for the IRS to go after and we al haveenough money too leave the country if we had to hahahaha we have eough to buy ur wn private island atthis point!
we need a steemit yacht , cant waiit for u to have hundreds of millions in steem and u can actualy buy one no probem to hold te next steemit meetup lOL
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Wonderful rant!
I figure, with every freak out sell off it just gives me more time to stock pile coins at better prices.
This is just like the early internet. Always crashing. Dial up access... it will get fixed. Just load up now while access is "scary" for he masses.
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Yeah, yeah, but come on!!! Hard to load up on anything when you can't access your funds for two damn days straight!
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I can't wait till I'm cashIng out millions and having to hire an accountant. Nice post! 👏👏🤞💪🚀🚀🚀🚀🚀🚀
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not there yet, and they keep throwing up roadblocks to slow me down! LOL
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You are correct @markrmorrisjr about issue of poloniex, some people are know are complaining, suggest that Bittrex is better. I like your HFORK post a lot and mentioned you on my latest post on my blog. Jope you check it out. Thanks for sharing this post.
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Thanks for the mention, and I'm moving over to Bittrex for a while. Poloniex was my first exchange of any kind. I never had a real issue, other than some minor lags, until now.
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Thanks for the informative post. I've been hearing complaints on Poloniex. What's a great alternative to it? Havent done my first withdrawal yet.
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bittrex is not super intuitve at first but seems to be built/run by competent individuals and works well once you figure out how to do everything. i've never tested their tech support (that i remember) so i can't comment on that. it's still best not to leave your crypto on any exchange long term. also, check instructions for any currency you're trying to withdrawl/deposit so that you don't lose your money as many have caveats/idiosyncrasies.
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Well, I just used the bittrex account I set up last summer for the first time. That wasn't horrible.
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Neat post dude :) I also upvoted and followed.
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Thanks!
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Like other technologies, the easiest, and most "user friendly" platforms will get the lion's share of business in time... It's still early in this game...
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Down with the Fed, the banksters and let crypto reign free
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Wouldn't that be swell, but it ain't gonna happen forever, too successful.
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Of course they are gonna either shut it down, or they are going to buy up everything in existence through "open market operations"
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news flash, the biggest bitcoin wallet in existence, lies in FBI hands after the Silk Road take down. Why do you think they busted him?
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Well they can just buy up the rest then haha.
Didn't think about this, they can crash it whenever they want the cocksuckers
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well blockchains are notoriously hard to crash and very resilient, let em try
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What about mass market sell off to destroy all confidence in the market??
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not working too well is it? We're still here!
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great job keep up the good work
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Ugggh! Thanks! 5 days and counting and not one share of my steem has appeared as of yet.
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i'm gonna resteem some of your work
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Thanks! I appreciate the support. Glad you like it.
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Very good read and understandable, well done. At the rate I'm earning I really won't have to care until 2025. I'm 77 now but I'm going to try and remember. Thanks.
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Cool! Glad to see some seniors getting on board! That's awesome!
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Im pretty sure it had something to do with thew hardfork. Although I have seen other wallets on poloniex down for maintenance, they usually fix it within a couple days.
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Well ,I heard it went day before the hard fork I didn't know that and threw my power down into the furnace!
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I enjoyed reading that. The war will come. It's inevitable. They will try to squeeze and regulate the fuck out of us, mark my words.
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they always do. It's not their fault, it's all they know how to do. We'll never see the ones that do understand it, they stay in the shadows.
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Powerful words there, friend!
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So stop using centralized exchanges, especially Polo who just cant cope, simple. I realize STEEM doesnt have many options yet but that is the way to go.
OK fully decentralized exchanges are for super duper technical types and thats not feasible, but Lykke is a mobile app, whats not to like? Get STEEM in there and all your unicorn wishes will be granted...
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I'll take a look. Can it be used in the US? There are several that cannot.
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Not yet, Lykke are getting registered now, Im not sure which states are first. They are going to be much more than a crypto exchange too, all kinds of assets.
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Yeah, that's what I found with several things. Our centralized bank is a bunch of control freak authoritarian economic fascists.
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I totally agree that Coinbase and Poloniex need to seriously upgrade their services. These platforms are the first things newcomers to the crypto world experience. If their first experience is Coinbase going down or Poloniex freezing their funds, they are going to run as far away from crypto as possible!
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Yep, at a time when it's crucial we get more users!
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For the love of Oompa Loompas, don´t let banks and groups of power get too close to crypto currencies. Let´s keep it decentralized! Great read @markmorrisjr
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Well, we can hope
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I just did a search on bank glitches for 2017. IS our money safe at the bank?
https://steemit.com/money/@idealsceneprod/is-your-money-safe-at-the-bank
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