Re:Bitcoin exchange Youbit shuts after second hack attack
by lucozade on Tuesday December 19, 2017 @12:28PM
(#15961887)
> Banks can accept risks to liquidity pretty readily
Depends on the size of the liquidity crunch. It's not exactly unknown to bring a financial institution to its knees for lack of liquidity.
> cryptocurrencies are hyper-liquid
How so?
> unrecoverable short of a hard fork
Which is the usual way of dealing with this. I can't think of any cryptocurrencies that are decentralised enough that a small quorum of people can't effect a substantial change.
> exchanges need to have measures in place which would be unheard-of at most other firms
What are they doing that's more than financial institutions? Startups selling coffee or whatever, sure.
Depends on the size of the liquidity crunch. It's not exactly unknown to bring a financial institution to its knees for lack of liquidity.
> cryptocurrencies are hyper-liquid
How so?
> unrecoverable short of a hard fork
Which is the usual way of dealing with this. I can't think of any cryptocurrencies that are decentralised enough that a small quorum of people can't effect a substantial change.
> exchanges need to have measures in place which would be unheard-of at most other firms
What are they doing that's more than financial institutions? Startups selling coffee or whatever, sure.