Circle, The Bitcoin Startup (founded by Jeremy Allaire) Takes $50M From Goldman Sachs and IDG
This is an automatic summary, original reduced by 62%.
Circle, the Bitcoin startup that veteran entrepreneur Jeremy Allaire started, just raised $50 million from Goldman Sachs and IDG Capital Partners. The key point about this feature is that it takes advantage of Bitcoin's promise in settling transactions and reaching consensus much more cheaply than traditional online financial transactions. Circle is betting that dollar-based transactions will also be attractive to customers who don't want to deal with Bitcoin's price swings against fiat currencies. They could be a key partner in breaking into the Chinese market, which has an entirely different set of regulations around Bitcoin. Two years ago, after Chinese Bitcoin enthusiasts started piling into the market and driving up the price of the currency, the government intervened and ruled that banks couldn't directly handle transactions. "So I think there's a need for services that will make it easier for Chinese consumers to spend globally. The Bitcoin network could be an attractive solution."
u/Luke-Jr invented SegWit's dangerous "anyone-can-spend" soft-fork kludge. Now he helped kill Bitcoin trading at Circle. He thinks Bitcoin should only hard-fork TO DEAL WITH QUANTUM COMPUTING. Luke-Jr will continue to kill Bitcoin if we continue to let him. To prosper, BITCOIN MUST IGNORE LUKE-JR.
I don't think we can survive forever without a HF. What about when/if QC [Quantum Computing] becomes a reality, for example?
~ u/Luke-Jr So... the only scenario where Luke-Jr can imagine upgrading Bitcoin is in the event of Quantum Computing?!?!? Luke-Jr has been very damaging and toxic to Bitcoin in several ways: (1) Luke-Jr's pathological, anti-science insistence on extremely tiny blocks is largely responsible for Circle shutting down Bitcoin trading today.
Circle.com CEO Jeremy Allaire: "bitcoin hasn’t evolved quickly enough to support everyday financial activities." (Circle.com ceases allowing purchase of Bitcoin)
Segwit cannot be rolled back because to non-upgraded clients, ANYONE can spend Segwit txn outputs. If Segwit is rolled back, all funds locked in Segwit outputs can be taken by anyone. As more funds gets locked up in segwit outputs, incentive for miners to collude to claim them grows.
SegWit false start attack allows a minority of miners to steal bitcoins from SegWit transactions
https://np.reddit.com/btc/comments/59vent/segwit_false_start_attack_allows_a_minority_of/ Luke-Jr may believe that he genuinely wants to help Bitcoin - but he is only hurting Bitcoin. As we all know by now, Luke-Jr suffers from numerous physiological and/or psychological pathologies. We cannot continue brush these problems under the rug as being "just his religious freedom". Luke-Jr's cognitive problems make him incapable of fulling participating in human society - or debating about capacity planning for an emerging global cryptocurrency economy. In his faith-based, anti-science brain, the only situation where he can imagine hard-forking Bitcoin is in the advent of Quantum Computing (QC) - making him largely responsible for Circle shutting down Bitcoin trading today, due to insufficient capacity on the blockchain - directly attributable to Luke-Jr's well-known efforts to artificially suppress the blocksize and prevent Bitcoin from upgrading via a simple & safe hard-fork. For all his supposed "piety", Luke-Jr is actually just a blissfully ignorant sociopath and an extremist who is incapable of dealing with life in real-world societies and economies. He has been very, very harmful to the Bitcoin community, the Bitcoin codebase, and the Bitcoin economy. Luke-Jr simply does not recognize reality. He lives in his own pathological world where he regularly spouts criminal, anti-social fantasies:
Luke-Jr is a seriously a super crazy person quotes gigathread
Luke-Jr: "The only religion people have a right to practice is Catholicism. Other religions should not exist. Nobody has any right to practice false religions. Martin Luther was a servant of Satan. He ought to have been put to death. Slavery is not immoral. Sodomy should be punishable by death."
Like the faith-based viewpoints of many harmful US politicians, the faith-based viewpoints of Luke-Jr are delusional, anti-scientific and dangerous to our society and to our economy. And we are getting yet another very concrete example of this today - where Luke-Jr is largely to blame for causing a major US Bitcoin trading company, Circle, to shut down Bitcoin trading. Luke is blind to reality Like any faith-based sociopath, Luke-Jr lacks the mental and emotional faculties to see any of the damage which he is causing. This is why he keeps on piously mouthing his toxic, blissful ignorance - because he puts his "faith" over science, and fantasy over facts - and himself over the community. Luke-Jr is also responsible for doing SegWit as a shitty, sucky spaghetti-code soft fork
SegWit-as-a-spaghetti-code-soft-fork gives us almost no immediate increased capacity,
Luke's "contributions" to Bitcoin have needlessly complicated Bitcoin's codebase - preventing Bitcoin's growth, driving away users and businesses, and dividing the community.
jimmydorry about luke-jr : 'His best work was probably in figuring out how to soft-fork SegWit, and I'm sure that I am forgetting a whole heap of other things he did that were important.'
https://np.reddit.com/btc/comments/49tvwv/jimmydorry_about_lukejr_his_best_work_was/ Why do people continue to listen to this toxic sociopath Luke-Jr? Why are people letting this toxic sociopath Luke-Jr do capacity planning and upgrade planning for the world's most important cryptocurrency, Bitcoin? Maybe people contiunue to pay attention to him because he was an early adopter of Bitcoin. And Blockstream likes him, because he functions as "useful idiot" and attack dog for them: his irrational opposition to hard forks helps keep Blockstream in power. But, in reality, Luke-Jr has proven again and again that he is merely an extremist and a sociopath. He may help Blockstream - but he hurts Bitcoin. It is time for the Bitcoin community to recognize that Luke-Jr is dangerous and damaging to Bitcoin. In a universe without Luke-Jr's toxic influence...
Circle would probably still be trading Bitcoin,
Bitcoin would probably have hard-forked to 4 MB blocks by now,
Think about that better world we could be in right now - if we hadn't let our community be damaged by the dangerous and pathological lies and insanity coming from the toxic extremist sociopath Luke-Jr. Bitcoin will not be able to survive and prosper if we continue to allow the toxic extremist sociopath Luke-Jr to poison our codebase, our community, and our economy.
View Jeremy Allaire’s profile on LinkedIn, the world's largest professional community. Jeremy has 5 jobs listed on their profile. See the complete profile on LinkedIn and discover Jeremy’s ... Jeremy Allaire, der die Bitcoin Zahlungen Firma Circle gegründet, die $ 9m in Venture Capital Finanzierung erhöht und wird in der Folge in diesem Jahr zu starten, ist einer der Leute streiten dass Bitcoiners mit Regierungen arbeiten sollten, um Vorschriften für Bitcoin zu ermitteln. "Wenn Ihre Ziele eine Art Schattenfinanzsystem schaffen, das in Offshore-Jurisdiktionen läuft und für ... News › Bitcoin › China › People Bitcoin’s correlation with China according to Circle’s CEO Jeremy Allaire . The co-founder and CEO of Circle Jeremy Allaire affirmed that there is a “macro-correlation” between Bitcoin’s price movement and the current trade war between China and the United States that could lead to wider adoption in the Asian nation, according to a recent ... Jeremy Allaire wurde in der Montessori-Tradition erzogen, die ihn von jungen Jahren an unabhängig und verantwortlich machte. 1993 erhielt er ein Doppelstudium in Politikwissenschaft und Philosophie am Macalester Colledge. Während seines Studiums lernte Allaire das Internet kennen und begann mit seinen Experimenten. In dieser Zeit erstellten er und sein Freund die Nachrichtenaggregator ... Circle's Jeremy Allaire predicts a rise in demand for non-sovereign currencies like bitcoin.
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