The blockchain is a global distributed digital ledger of every transaction
ever made using that particular cryptocurrency. Even bigger than that is
Ethereum-style blockchains which I'll get to in a second...
I'm talking about the traditional role of banks as places that store your
money for you. In this sense they are just glorified wallets.
"Money-lenders" can also act as entities that provide loans (eg.
micro-lenders in India).
The difference with Cryptocurrencies is that you can store your money in
your own wallet, along with the blockchain. Every transaction is
traceable, and there is virtually 0 chance of fraud (every person who owns
the blockchain must agree on the transaction before it's considered
valid). Your wallet is analogous to a bank account, except there are no
fees, and your identity remains private. If I want to transfer money to
you, allow I need is your wallet address. There are no intermediaries.
These days though most people use hosted wallets because it's usually not
feasible to lug a multigigabyte blockchain with you plus if you lose your
local wallet you lose everything.
Blockchains like Ethereum take things further - you can have entire
applications that run *on* the blockchain. Which means that as long as
ethereum exists, your application will exist. There is no concept of a
single-point-of-failure. If you run a chat server on Ethereum's blockchain
for example, all messages sent can be made to be part of the blockchain so
a message sent today will live "forever".
It's easy to see why many governments and finance companies are interested
in blockchain tech. It's use is not exclusive to currencies.
On Mon, May 22, 2017 at 5:55 PM, Donaldson, Alasdair <
alasdair.donaldson@xxxxxxxxxx> wrote:
The purpose behind banks isn’t to act as a wallet, it’s as a lender.
How does the blockchain take care of that side? I actually have no idea
what blockchain is all about.
*From:* cpt-fgc-bounce@xxxxxxxxxxxxx [mailto:cpt-fgc-bounce@xxxxxxxxxxxxx]
*On Behalf Of *Ilitirit Sama
*Sent:* 22 May 2017 3:04 PM
*To:* cpt-fgc@xxxxxxxxxxxxx
*Subject:* Re: Hello
Banks have no power to legislate, but you can bet your bottom cryptocoin
that they lobby government to intervene.. The invention of the blockchain
has basically guaranteed that their business model will go extinct very
soon, so they will either have to change the the way they do business, or
try to get government to force people to get in line. What happens after
that? A new cryptocoin + blockchain will emerge, obviously.
The current banking business model is obsolete. In reality there is no
need for banks (maybe they can act as glorified wallets, but that's it).
Japan has begun to accept this this, and this is part of the reason BTC has
tripled in value in 4 months. ETH has increased by nearly 20x. (GPU
mining is *still* profitable BTW - the value is in the idea that the coins
you mine now will increase in value over time). Is there need for
regulation? Probably, but not on the current scale. If I want to buy
something from anyone in the world, it's noone else's business but myself
and the other party.
In SA earning profit from crypto is no different from any other source,
unless you trade entirely in crypto ("untraceable"). As soon as it gets
converted to cash a trail will emerge. Even if you sell your entire wallet
to a buyer, SARS can track the expenditure of the buyer.
On Mon, May 22, 2017 at 8:45 AM, lindsey kiviets <lindseyak@xxxxxxxxxxx>
wrote:
Yes indeed, once you start living above the reasonability of your salary
its gg.
Banks are soon going to start legislating this bitcoin thing, its getting
out of hand.
1 coin is already over $2k, I read an article in November where the
analysts predicted it wil be over $2300 in 2018.
its 2017 is not even half way and we already in $2k. gg
------------------------------
*From:* cpt-fgc-bounce@xxxxxxxxxxxxx <cpt-fgc-bounce@xxxxxxxxxxxxx> on
behalf of Donaldson, Alasdair <alasdair.donaldson@xxxxxxxxxx>
*Sent:* 22 May 2017 06:35 AM
*To:* cpt-fgc@xxxxxxxxxxxxx
*Subject:* RE: Hello
Problem comes from when you buy stuff with money made from bitcoins. You
buy a house or a car with cash converted from bitcoins and SARS will want
to know. If you keep it to small amounts, can prob get away with a lot.
*From:* cpt-fgc-bounce@xxxxxxxxxxxxx [mailto:cpt-fgc-bounce@xxxxxxxxxxxxx]
*On Behalf Of *lindsey kiviets
*Sent:* 22 May 2017 8:26 AM
*To:* cpt-fgc@xxxxxxxxxxxxx
*Subject:* Re: Hello
lol, the SARB dgaf about any crypto's.
which leads me to believe that SARS dgaf either.
even if they did gaf, how would they be able to prove it.
------------------------------
*From:* cpt-fgc-bounce@xxxxxxxxxxxxx <cpt-fgc-bounce@xxxxxxxxxxxxx> on
behalf of Donaldson, Alasdair <alasdair.donaldson@xxxxxxxxxx>
*Sent:* 22 May 2017 06:21 AM
*To:* cpt-fgc@xxxxxxxxxxxxx
*Subject:* RE: Hello
What’s the problem with it – does SARS not worry about bitcoin income? Or
do they just trust people to report it themselves?
*From:* cpt-fgc-bounce@xxxxxxxxxxxxx [mailto:cpt-fgc-bounce@xxxxxxxxxxxxx
<cpt-fgc-bounce@xxxxxxxxxxxxx>] *On Behalf Of *lindsey kiviets
*Sent:* 22 May 2017 8:19 AM
*To:* cpt-fgc@xxxxxxxxxxxxx
*Subject:* Re: Hello
dude, I think you should write a paper on bitcoin and the south African
tax system.
I don't think ppl realize how huge it has become and what bigga problems
we could face down the line.
O_o
I think that, that should be the name of the paper.
"I don't think ppl realize how huge it has become and what bigga problems
we could face down the line."
------------------------------
*From:* cpt-fgc-bounce@xxxxxxxxxxxxx <cpt-fgc-bounce@xxxxxxxxxxxxx> on
behalf of Donaldson, Alasdair <alasdair.donaldson@xxxxxxxxxx>
*Sent:* 22 May 2017 06:13 AM
*To:* cpt-fgc@xxxxxxxxxxxxx
*Subject:* RE: Hello
https://whyevolutionistrue.wordpress.com/2017/05/19/a-
new-academic-hoax-a-bogus-paper-on-the-conceptual-penis-
gets-published-in-a-high-quality-peer-reviewed-social-science-journal/
<https://urldefense.proofpoint.com/v2/url?u=https-3A__whyevolutionistrue.wordpress.com_2017_05_19_a-2Dnew-2Dacademic-2Dhoax-2Da-2Dbogus-2Dpaper-2Don-2Dthe-2Dconceptual-2Dpenis-2Dgets-2Dpublished-2Din-2Da-2Dhigh-2Dquality-2Dpeer-2Dreviewed-2Dsocial-2Dscience-2Djournal_&d=DwMGaQ&c=0TzQCy9lgR5hSW-bDg5HA76y7nf4lvOzvVop5GM3Y80&r=3188cCLKqrRVUgvzUimFxNxHH_Hcs83no5DXOBKTq-g&m=3mT9AyVXRqP8Ec4vcTryZzYo4TAIl3D7Ta6DvXZy00c&s=MeqTEiFyV4L3gUUiIFQtvyjU4-rVt6EUQgBQoFMPsOE&e=>
A new academic hoax: a bogus paper on “the conceptual penis” gets
published in a “high quality peer-reviewed” social science journal
<https://urldefense.proofpoint.com/v2/url?u=https-3A__whyevolutionistrue.wordpress.com_2017_05_19_a-2Dnew-2Dacademic-2Dhoax-2Da-2Dbogus-2Dpaper-2Don-2Dthe-2Dconceptual-2Dpenis-2Dgets-2Dpublished-2Din-2Da-2Dhigh-2Dquality-2Dpeer-2Dreviewed-2Dsocial-2Dscience-2Djournal_&d=DwMGaQ&c=0TzQCy9lgR5hSW-bDg5HA76y7nf4lvOzvVop5GM3Y80&r=3188cCLKqrRVUgvzUimFxNxHH_Hcs83no5DXOBKTq-g&m=3mT9AyVXRqP8Ec4vcTryZzYo4TAIl3D7Ta6DvXZy00c&s=MeqTEiFyV4L3gUUiIFQtvyjU4-rVt6EUQgBQoFMPsOE&e=>
whyevolutionistrue.wordpress.com
<https://urldefense.proofpoint.com/v2/url?u=http-3A__whyevolutionistrue.wordpress.com&d=DwMFaQ&c=0TzQCy9lgR5hSW-bDg5HA76y7nf4lvOzvVop5GM3Y80&r=3188cCLKqrRVUgvzUimFxNxHH_Hcs83no5DXOBKTq-g&m=MFWMrcq1wsQq8fhOJcbV6NLdd6yLOHLqdl1Hd5K0zFU&s=V1vRQdlURR5mykfCivNXA0tsl7PsbyrFQx_JMKdd8PU&e=>
It’s been 21 years since physicist Alan Sokal submitted a bogus paper to a
special “Science Wars” issue of the cultural studies journal Social
Text. His paper, “Transgressin…
*From:* cpt-fgc-bounce@xxxxxxxxxxxxx [mailto:cpt-fgc-bounce@xxxxxxxxxxxxx
<cpt-fgc-bounce@xxxxxxxxxxxxx>] *On Behalf Of *lindsey kiviets
*Sent:* 22 May 2017 8:10 AM
*To:* cpt-fgc@xxxxxxxxxxxxx
*Subject:* Re: Hello
hmm, let me try that tonyt.
I hope we on the same as the ps4 version.
------------------------------
*From:* cpt-fgc-bounce@xxxxxxxxxxxxx <cpt-fgc-bounce@xxxxxxxxxxxxx> on
behalf of Nicholas Robertson-Muir <nicmuir@xxxxxxxxx>
*Sent:* 22 May 2017 06:04 AM
*To:* cpt-fgc@xxxxxxxxxxxxx
*Subject:* Re: Hello
The qcf+C isn't immediate. There's a slight delay.
On 22 May 2017 08:01, "lindsey kiviets" <lindseyak@xxxxxxxxxxx> wrote:
K' in corner
CD (wallsplat) qcf+C (hits meaty) st D, BC, CD, qcf+C, st D.....
My problem is CD (wallsplat) qcf+C completely wiffs now.
------------------------------
*From:* cpt-fgc-bounce@xxxxxxxxxxxxx <cpt-fgc-bounce@xxxxxxxxxxxxx> on
behalf of Nicholas Robertson-Muir <nicmuir@xxxxxxxxx>
*Sent:* 22 May 2017 05:57 AM
*To:* cpt-fgc@xxxxxxxxxxxxx
*Subject:* Re: Hello
Wat combi you trying?
On 22 May 2017 07:15, "lindsey kiviets" <lindseyak@xxxxxxxxxxx> wrote:
all I wana know is what is this steam version we playing on?
is the latest on ps4 2.01? coz this fkn steam version is totally fkd up.
wallsplat combos don't work anymore wtf?
------------------------------
*From:* cpt-fgc-bounce@xxxxxxxxxxxxx <cpt-fgc-bounce@xxxxxxxxxxxxx> on
behalf of Nicholas Robertson-Muir <nicmuir@xxxxxxxxx>
*Sent:* 21 May 2017 09:11 PM
*To:* cpt-fgc@xxxxxxxxxxxxx
*Subject:* Re: Hello
Git gud
On 21 May 2017 18:47, "Ryan Williams" <ryan820509@xxxxxxxxx> wrote:
Man, it's great to finally be able to lab it up in KOF14 :) I'm adding
Kukri and Ryo to the mix. Would like to play Meitenkun, Luong and Whip as
well at some point.
On Fri, May 19, 2017 at 6:36 PM, Manase Zote <bmlzote@xxxxxxxxx> wrote:
Nice!
I guess you are getting it LB?
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