I am an engineer and none of those who build and run blockchain is engineer and none of them is as knowledgeable as me.
You are completely wrong. I have automatic payments and did by accident make one payment manually again (so for the second time). I went in my bank app and asked the double payment back. It was automatically reversed and send back to my account immediatelly. No court, no police, no assets frozen, no escrow accounts, nothing at all. All payments done in the past three weeks can be reversed like that without any interference of a third party. With crypto's on the other hand there seems to be problems. Apple founder Wozniak sold crypto's an got paid with a stolen creditcard. Crypto's gone and money gone. Going to Court, freeze assets, set up some sort of escrow with or without any rules, all this will not work with crypto's. He just lost it and that's all. No way to ever recover it. With fiat currencies you know at least who got the money. https://www.finder.com.au/how-steve-wozniack-had-his-bitcoin-stolen On top of that there are many other problems with crypto's that I never experienced with fiat currencies (not even mentioning the huge losses you can have when they crash) : https://marketrealist.com/p/sold-crypto-on-robinhood-wheres-money/ https://www.moneybackhero.com/cryptoscam/ https://support.blockchain.com/hc/en-us/articles/360048200392-Why-can-t-I-withdraw-my-crypto- I also never have to do a test payment to see what will happen with my money. LOL.
There is no "Blockchain", there are however many competing blockchains. There is BTC, a blockchain that is the dominant one with features and benefits that has not been actualized by any other. Many do not recognize it's value proposition. The current market has discounted it. We've witnessed a hyperinflation event with UST/LUNA and the possible emergence of a contagion that has taken down a big player and the possibility of others.
While I disagree with your base assumptions, you put forth a rational perspective. As a bearer asset on a P2P network; the amount of infrastructure that has been built, the degree of network propagation, the growth of regulated and in-compliance international exchanges would refute the assertion that there is no guarantee of convertibility. El Salvador as the first sovereign nation state does guarantee convertibility to fiat. There is development in the domain of DeFi "synthetics" which will do what you describe with convertibility to SPY and other more traditional asset classes. As for your list; 1) False Narrative https://blog.chainalysis.com/reports/2022-crypto-crime-report-introduction/ 2) Yes and alternatively, a vehicle for wealth growth/transfer. 3) It's always been recognized by early adopters as pseudo-anonymous, with proper opsec, privacy can be better than cash. 4) Sure a self-defeating self-limiting non-sensical action by a bad actor - thus the power of decentralization and why hosting a node is vitally important. 5) Depends. https://www.nasdaq.com/articles/research:-bitcoin-consumes-less-than-half-the-energy-of-the-banking-or-gold-industries https://digiconomist.net/bitcoin-energy-consumption What is AGW? btw, since you are an engineer, you might appreciate the engineering behind the largest btc mining facility in the US. start at 2:24
I'm not sure why you needed to transfers coins to begin with, instead of just selling what you had, then rebuying the same amount back in the new account, a much cleaner fix. Other than the transaction fees, it would have no affect on you account's value, so why do things the hard way? Trying to save on fees is not always the smartest approach, if you're trying to be professional about this, as it seems you found out the hard way. Next time, just liquidate, work with cash, and you won't have these issues by overcomplicating things. Good luck. Happy trades!
Something does not seem right here with your transfer. When you are transferring crypto, in this instance from KuCoin to Coinbase, KuCoin would have asked you to enter the address of the recipient, in this case Coinbase (this address you would have copied from the Coinbase wallet and pasted into the KuCoin wallet). So, basically, Coinbase would have displayed to you to copy and paste, a correct address to send your USDT to, and if KuCoin does not support this address, it would have thrown up a warning stating incorrect or unsupported network after you entered/pasted the address into KuCoin. So, I am not sure exactly what you have done here!
WOW, This thread really strayed from the issue. I too lost money from a transfer from Binance to coinbase. The only respite is that Coinbase will add support for Binance smart chain.BSC. otherwise my money is gone. I spoke with the regulator here in Ireland and as Coinbase is not governed or has a license in Europe yet, there is nothing they can do. I am also part of a small group on a discord where the total amount of lost funds from the BSC to Coinbase transfers totals $2.5million at this time. So yeah, this is a real issue. I dont really have time for those who want to harp on about it being such a stupid thing for people to do. Its all too easy to poke fun at others mistakes rather than be helpful opr offer any value of insight. The retail trading world is full of that. The professional trading world has very little of that. SO, unfortunately the only thing to do is to wait for there to be a lot more integration in the general space and cross brokerages. This ios when BEP integration will be added to Coinbase. Hope this helps.
Overall Security Rating : D- Since day 1, its overall poor security has been known to everyone. Hackers are being rewarded for their hard work and exploiting the loopholes.
For what it's worth, I remember a couple years ago or so, Binance put up a notice that it was working on a way to improve recovery of LOST coins due to user error in sending across different networks. Though I don't recall any estimated timeframe.