***NSFW*** Sex workers slam crypto-based ‘Uber for escorts’ over safety fears

Discussion in 'Cryptocurrencies' started by johnarb, Jul 21, 2018.

  1. johnarb

    johnarb

    *** THIS IS NOT AN ENDORSEMENT (from me) *** Interesting ICO concept. The founders are anonymous but there are hints that at least one of them is in Canada where they are launching the first city as it's in a "gray" area on legality. Not a blockchain, but more of a traditional (underground) "company" that wishes to raise funds (IPO) but cannot do so due to the (illegal in the US) nature of the business.

    They will sell company shares for cryptos and will pay dividends in cryptos. Worth mentioning that SESTA and FOSTA have eliminated most of the established industry players (i.e. Backpage, Craigslist personals, etc.). DYOR.

    https://www.rt.com/business/433479-pinkdate-uber-crypto-escorts/

    https://pinkdate.is/
     
  2. sss12

    sss12

    Point of this thread ? Is it a news item ? Do you want opinions ?
     
  3. johnarb

    johnarb

    No feedback needed. It's just a news item. I read a lot of crypto-related news (and have seen this a few months ago, along with another coin called Spankchain) but I do not post them here unless it's in mainstream publication such as CNBC or Forbes, and this was on Reuters business section, so...

    I'm no lawyer, but I believe investing in this company by a US citizen would not be legal even if it's not a US company, however, there are non-US folks that post here, so for them, they can do their own DD.

    Now, the point of the post is to highlight how different a decentralized system (cryptos) operate versus, centralized systems (everything else we have grown up with). Think about it, this project exists and is selling shares via the blockchain/cryptos and raising funds globally, but as a retail person I can't even buy a Samsung share as it doesn't have an ADR.
     
  4. sss12

    sss12

    Whatever the rest of your thread is about..who knows...but a U.S. Retail Investor can easily buy shares of Samsung (it is called buying on the local exchange, very easily done though any broker/dealer)

    Again more BTC proponents solving problems that don't exist. (And for the record, I am still long and underwater on my blockchain positions ).
     
  5. johnarb

    johnarb

    If bitcoin (or any cryptocurrency) succeeds, it will be an extremely innovative evolution in the financial systems. Blockchabin that is not decentralized is just a (very bad) database and if you don't know this, you need to study bitcoin more.
     
  6. sss12

    sss12

    Actually blockchain tech is currently being used very successfully in many sub-sectors, maybe it is you who should do a little more research. While..........
    BTC @ $ 6,250.....just sayin'
     
  7. johnarb

    johnarb

    Bitcoin is in a downtrend/bear market. I don't know where the bottom is, but I will start buying again if it goes below $2000.

    I've been in bitcoin since 2013, and was a miner. I compile bitcoin binaries from source (github repo) every time there's a new version, and I don't even wanna bore you with other coins and other stuff I've needed to setup over the years. I'm not a developer but these are what's required especially when the coin is in early stages. Look at Tezos right now, the only official wallet is Linux cli, that needs to be compiled, then setup delegate for baking (mining coins) that requires 10,000 coins per roll, all the while keeping track of updates every few days that require re-compiling the binaries from gitlab source. I think I can safely say I know more than you when it comes to cryptos.

    Now, back to blockchain. No tricks. Tell me what you see on the blockchain that cannot be entered into a spreadsheet? (below is the latest block at the time of my writing this post).

    https://www.blockchain.com/btc/bloc...56e83dbad8e659000715d67a0cf081ffec2a6ec672796

    As I said, no tricks, I'll walk you through it. Block number (think of it as a database record ID), block hash, previous block hash, individual transactions, transaction ID's (txid's), source bitcoin addresses, destination bitcoin addresses, amounts, change amounts, change addresses, arbitrary data OP_return, etc. All of these you can map on a spreadsheet with probably less than 20 columns.

    A bitcoin block is generated every 10 minutes (that's the target interval, some blocks take less than that and some much longer). Think for yourself and don't believe the bullsh*ts you read about your blockchain projects. How are they using the blockchain? They can have an Oracle database or an IBM Database system that can generate thousands of records a minute, why would they need a slow blockchain? I showed you what a blockchain is, so don't make it some kind of magical stuff.

    So, without you asking, why does bitcoin need the blockchain? immutability as secured by a hash that was produced by a miner through proof of work brute-force solution to a mathematical puzzle. This is very important in order to enforce certain "truths", such as if a bitcoin has been sent to someone, it cannot be sent to another address (double-spend) or if someone tries to generate a million bitcoins, the network of nodes will reject it per the software code/protocol.

    So, maybe you'll ask, well, maybe drug companies want immutability? Of course they do, in order to control the supply chain and authenticity and whateverz. So they need a blockchain? No, they need a database that is secure. Why not a blockchain? They can but it will be slow. They'll get immutability? Huh? who will enforce it? If the hash signatures are coming from the same entities or even outside entities, the weak link is whoever controls that system. Bottom line, they are still working with the same centralized systems that they have now and moving it to a blockchain just slows it down without gaining the trustless, censor-resistant design of the bitcoin blockchain.

    I'm sure all these things are over your head. Do me a favor and disprove what I said. At least I'll know you studied blockchain. I'll be here.
     
    Last edited: Aug 8, 2018
  8. sss12

    sss12

    WMT, PFE, IBM, UPS.....Contact them to continue your conversation, and tell them how stupid they are for utilizing blockchain.
     
  9. johnarb

    johnarb

    No, it's fine. They have to do what they have to do. I'm trying to educate you. I never said they cannot use a blockchain. Of course they can. I'm trying to inform you that that the database systems they currently have are much superior to a blockchain.

    The value they get from investors/shareholders is worth the expenses they spend to convert to a blockchain system and they fool people like you. It worked, didn't it?
     
  10. sss12

    sss12

    Really ? Your arrogance is simply amazing...how is it to be the smarter than the leadership at some of the top co in the world. LOL.
     
    #10     Aug 8, 2018