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Re:Email exchange between MIT Media Lab and the IOTA Foundat... by emmelaich on Sunday February 25, 2018 @01:28AM (#16457473)
> You're gonna have a bad time."

A major wake-up call for me in the crypto currency world was Gavin Andresen's ludicrous "validation" of Colin Wright as Satoshi.

When a so-called leader clearly does not even understand the basics you realise it's 98% shit. Sturgeon's law applies again. But I keep on forgetting that.

Re:Email exchange between MIT Media Lab and the IOTA Foundat... by loxias on Sunday February 25, 2018 @01:43AM (#16457526)
The crypto world has certainly inspired me to pursue whole new fields of research. Not in cryptocurrencies, because while the idea of a distributed ledger I think is solid and here to stay, but because at least 90% of these "currencies" must have their value drop to zero given a long enough time frame -- there's simply no reason for the market to support anything else.

No, for the past half a year or so I've been trying to learn all I can about market microstructure, quantitative finance, anything that makes money off of high variance.

Because if there's one thing I will bet on, it's that there's a ton of risk and volatility here in these hills, and there's probably money to be made somehow while it all crashes and burns.

Re:Email exchange between MIT Media Lab and the IOTA Foundat... by charleslmunger on Sunday February 25, 2018 @02:29AM (#16457690)
This is an extremely dangerous way to think - it preys on the natural irrationality of the human mind. Someone is out there laying bait of all kinds. Iota is bait for people who think they barely missed out on bitcoin, but this new thing with buzzword salad as it's description and a lead developer that has clearly lost touch with reality will make then rich.

Then there's the second level bait - since there are all these suckers out there, surely money can be made by predicting them!

And then it's turtles all the way down. You won't know if you're a sucker or at the very top level until it all comes crashing down.

Re:Email exchange between MIT Media Lab and the IOTA Foundat... by zby on Sunday February 25, 2018 @02:32AM (#16457697)
Why do you think it was ludicurous? Admittedly I don't remember any detailed account of these events - but as I understand it Wright demonstrated that he can construct a message with Satoshi private keys. Most probably he used some trick there, a rigged laptop or maybe even rigged internet connection. But it was quite reasonable proof for me - I would not expect someone to do tricks on me when he could not demonstrate the same thing publicly - because what would be the goal of that? And if you are so sure that you could not be tricked - then good luck.
Re:Email exchange between MIT Media Lab and the IOTA Foundat... by emmelaich on Sunday February 25, 2018 @02:59AM (#16457779)
Quote from http://www.bbc.com/news/technology-36202904

> But critics called Dr Wright's claim into doubt when it emerged that part of the evidence the entrepreneur presented in public could have been generated using a string of digits linked to a seven-year-old transaction made by Satoshi, accessible via a search engine.

"It was a mistake to agree to publish my post before I saw his - I assumed his post would simply be a signed message anybody could easily verify," Mr Andresen told security researcher Dan Kaminsky when he challenged the scientist over the matter.

Also

https://www.wired.com/2016/05/craig-wright-privately-proved-...

Re:Email exchange between MIT Media Lab and the IOTA Foundat... by hatsunearu on Sunday February 25, 2018 @01:48AM (#16457548)
>Gavin Andresen's ludicrous "validation" of Colin Wright as Satoshi

I'm out of the loop; do you have any good summaries of this incident?

Re:Email exchange between MIT Media Lab and the IOTA Foundat... by emmelaich on Sunday February 25, 2018 @03:00AM (#16457781)
See above