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JoelKatz

@joelkatz

511 followers 4 following 199 posts Reputation 60.3

JoelKatz
@joelkatz Jun 24, 2017, 11:55 PM UTC

XRP/Ripple Summary

Someone recently asked on reddit for a summary of the case for XRP. This was my response. ------------------ ## What is XRP? ### XRP is a crypto-currency that trades on a public ledger. The software…

13 upvotes 15 replies $23.76
JoelKatz
@joelkatz Oct 2, 2016, 5:21 PM UTC

Fractional Reserve Banking

# Is our banking system a "scam"? This post is a response both to several of Ron Paul's arguments against fractional reserve banking and a series of tweets between David Andolfatto and I. I'll take h…

35 upvotes 7 replies $11.24
JoelKatz
@joelkatz Sep 11, 2016, 10:08 PM UTC

A way to stabilize the price of Steem dollars

# The problem Currently, the price of Steem dollars is down to around $0.76, which is significantly off the $1 they're supposed to be pegged to. I think the reason for this is that it takes 7 days to…

33 upvotes 5 replies $0.38
JoelKatz
@joelkatz Sep 3, 2016, 3:52 AM UTC

Is cash incompatible with a free market?

# Is cash really consistent with a free market? Bloomberg ran an article by Narayana Kocherlakota with the headline, "Want a free market? Abolish cash". The move to eliminate cash continues. But now,…

37 upvotes 6 replies $8.10
JoelKatz
@joelkatz Aug 29, 2016, 8:24 PM UTC

Questions Bitfinex must answer

There are a lot of questions that people need answers to before they should trust Bitfinex with any of their funds. Also, read to the end to see why US customers should not attempt to sell their BFX.…

39 upvotes 4 replies $0.08
JoelKatz
@joelkatz Aug 28, 2016, 6:37 AM UTC

The war on cash continues

The Wall Street Journal ran an article, The Sinister Side of Cash, arguing that we should phase out all large bills because they're primarily used for crime. Sorry about the paywall, but it's worth r…

53 upvotes 8 replies $21.36
JoelKatz
@joelkatz Aug 19, 2016, 10:38 PM UTC

Another huge problem with Bitfinex's bail in

I just realized there's another huge problem with Bitfinex "socializing" the theft loss. # The thefts were from segregated accounts All of the funds stolen from BItfinex were in segregated accounts.…

46 upvotes 3 replies $16.33
JoelKatz
@joelkatz Aug 16, 2016, 5:42 PM UTC

Bitfinex: DO NOT DEPOSIT ANY FUNDS!

If Bitfinex is insolvent, how are they taking deposits? And how can they allow withdrawals of new deposits? # Bitfinex appears to be insolvent Bitfinex has imposed a haircut on all of their depositor…

65 upvotes 10 replies $31.01
JoelKatz
@joelkatz Aug 10, 2016, 1:21 AM UTC

Avoiding the next Bitfinex

# The problem: Bitcoins are notoriously difficult to store securely. The theft from Bitfinex shows that multisign is not a magic dust you can sprinkle over your wallet to render it immune from theft.…

34 upvotes 4 replies $0.26
JoelKatz
@joelkatz Aug 5, 2016, 11:44 PM UTC

Legal responsibility for the Bitfinex theft (aka "Bitfinexit")

So who might actually be liable for the Bitfinex theft and what hope might the victims have? # The thief Obviously, the thief or thieves are fully liable. If they are caught, they can certainly be su…

170 upvotes 41 replies $754.30