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Primecoin

Discussion about Primecoin and its infra. Primecoin is a very innovative cryptocurrency, being the 1st non Hash-Cash PoW crypto, naturally scarce (not artificially), with very fast confirmations (1min), elastic readjusting reward & a useful mining (byproducts are primes). Primecoin is sustainable (miners are guaranteed to have revenues), and decentralized (ASIC/FPGA are not particularly advantaged). Sidechain for decentralized data applications (e.g. Storj) currently in development.
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Official PotCoin Joint - Cannabis Currency

PotCoin, designed to empower, secure and facilitate our community's daily transactions. The budding / legalized Marijuana industry is literally calling out for its own distinct crypto-currency - PotCoin effectively forms a global community with each participant undoubtedly anchored in this new economy. On every level of the industry, aficionados can count on PotCoin to stand for truth and the exponential power of very large numbers.
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r/CryptoMarkets

FOREX community for cryptocurrencies. Tags: mt gox bitcoin, long term potential, open source exchange, low inflation rate, demand and price, technical analysis, fundamentals, Bitcoin, Ethereum, Litecoin, Monero, Dash, Augur, token, volume, oscillator, RSI, stochastic, trend, sentiment, strategy, scam, coin, coinmarketcap, altcoin, Peercoin, script, blockchain, PoW, PoS, Proof of Work,
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Ultimate glossary of crypto currency terms, acronyms and abbreviations

I thought it would be really cool to have an ultimate guide for those new to crypto currencies and the terms used. I made this mostly for beginner’s and veterans alike. I’m not sure how much use you will get out of this. Stuff gets lost on Reddit quite easily so I hope this finds its way to you. Included in this list, I have included most of the terms used in crypto-communities. I have compiled this list from a multitude of sources. The list is in alphabetical order and may include some words/terms not exclusive to the crypto world but may be helpful regardless.
2FA
Two factor authentication. I highly advise that you use it.
51% Attack:
A situation where a single malicious individual or group gains control of more than half of a cryptocurrency network’s computing power. Theoretically, it could allow perpetrators to manipulate the system and spend the same coin multiple times, stop other users from completing blocks and make conflicting transactions to a chain that could harm the network.
Address (or Addy):
A unique string of numbers and letters (both upper and lower case) used to send, receive or store cryptocurrency on the network. It is also the public key in a pair of keys needed to sign a digital transaction. Addresses can be shared publicly as a text or in the form of a scannable QR code. They differ between cryptocurrencies. You can’t send Bitcoin to an Ethereum address, for example.
Altcoin (alternative coin): Any digital currency other than Bitcoin. These other currencies are alternatives to Bitcoin regarding features and functionalities (e.g. faster confirmation time, lower price, improved mining algorithm, higher total coin supply). There are hundreds of altcoins, including Ether, Ripple, Litecoin and many many others.
AIRDROP:
An event where the investors/participants are able to receive free tokens or coins into their digital wallet.
AML: Defines Anti-Money Laundering laws**.**
ARBITRAGE:
Getting risk-free profits by trading (simultaneous buying and selling of the cryptocurrency) on two different exchanges which have different prices for the same asset.
Ashdraked:
Being Ashdraked is essentially a more detailed version of being Zhoutonged. It is when you lose all of your invested capital, but you do so specifically by shorting Bitcoin. The expression “Ashdraked” comes from a story of a Romanian cryptocurrency investor who insisted upon shorting BTC, as he had done so successfully in the past. When the price of BTC rose from USD 300 to USD 500, the Romanian investor lost all of his money.
ATH (All Time High):
The highest price ever achieved by a cryptocurrency in its entire history. Alternatively, ATL is all time low
Bearish:
A tendency of prices to fall; a pessimistic expectation that the value of a coin is going to drop.
Bear trap:
A manipulation of a stock or commodity by investors.
Bitcoin:
The very first, and the highest ever valued, mass-market open source and decentralized cryptocurrency and digital payment system that runs on a worldwide peer to peer network. It operates independently of any centralized authorities
Bitconnect:
One of the biggest scams in the crypto world. it was made popular in the meme world by screaming idiot Carlos Matos, who infamously proclaimed," hey hey heeeey” and “what's a what's a what's up wasssssssssuuuuuuuuuuuuup, BitConneeeeeeeeeeeeeeeeeeeeeeeect!”. He is now in the mentally ill meme hall of fame.
Block:
A package of permanently recorded data about transactions occurring every time period (typically about 10 minutes) on the blockchain network. Once a record has been completed and verified, it goes into a blockchain and gives way to the next block. Each block also contains a complex mathematical puzzle with a unique answer, without which new blocks can’t be added to the chain.
Blockchain:
An unchangeable digital record of all transactions ever made in a particular cryptocurrency and shared across thousands of computers worldwide. It has no central authority governing it. Records, or blocks, are chained to each other using a cryptographic signature. They are stored publicly and chronologically, from the genesis block to the latest block, hence the term blockchain. Anyone can have access to the database and yet it remains incredibly difficult to hack.
Bullish:
A tendency of prices to rise; an optimistic expectation that a specific cryptocurrency will do well and its value is going to increase.
BTFD:
Buy the fucking dip. This advise was bestowed upon us by the gods themselves. It is the iron code to crypto enthusiasts.
Bull market:
A market that Cryptos are going up.
Consensus:
An agreement among blockchain participants on the validity of data. Consensus is reached when the majority of nodes on the network verify that the transaction is 100% valid.
Crypto bubble:
The instability of cryptocurrencies in terms of price value
Cryptocurrency:
A type of digital currency, secured by strong computer code (cryptography), that operates independently of any middlemen or central authoritie
Cryptography:
The art of converting sensitive data into a format unreadable for unauthorized users, which when decoded would result in a meaningful statement.
Cryptojacking:
The use of someone else’s device and profiting from its computational power to mine cryptocurrency without their knowledge and consent.
Crypto-Valhalla:
When HODLers(holders) eventually cash out they go to a place called crypto-Valhalla. The strong will be separated from the weak and the strong will then be given lambos.
DAO:
Decentralized Autonomous Organizations. It defines A blockchain technology inspired organization or corporation that exists and operates without human intervention.
Dapp (decentralized application):
An open-source application that runs and stores its data on a blockchain network (instead of a central server) to prevent a single failure point. This software is not controlled by the single body – information comes from people providing other people with data or computing power.
Decentralized:
A system with no fundamental control authority that governs the network. Instead, it is jointly managed by all users to the system.
Desktop wallet:
A wallet that stores the private keys on your computer, which allow the spending and management of your bitcoins.
DILDO:
Long red or green candles. This is a crypto signal that tells you that it is not favorable to trade at the moment. Found on candlestick charts.
Digital Signature:
An encrypted digital code attached to an electronic document to prove that the sender is who they say they are and confirm that a transaction is valid and should be accepted by the network.
Double Spending:
An attack on the blockchain where a malicious user manipulates the network by sending digital money to two different recipients at exactly the same time.
DYOR:
Means do your own research.
Encryption:
Converting data into code to protect it from unauthorized access, so that only the intended recipient(s) can decode it.
Eskrow:
the practice of having a third party act as an intermediary in a transaction. This third party holds the funds on and sends them off when the transaction is completed.
Ethereum:
Ethereum is an open source, public, blockchain-based platform that runs smart contracts and allows you to build dapps on it. Ethereum is fueled by the cryptocurrency Ether.
Exchange:
A platform (centralized or decentralized) for exchanging (trading) different forms of cryptocurrencies. These exchanges allow you to exchange cryptos for local currency. Some popular exchanges are Coinbase, Bittrex, Kraken and more.
Faucet:
A website which gives away free cryptocurrencies.
Fiat money:
Fiat currency is legal tender whose value is backed by the government that issued it, such as the US dollar or UK pound.
Fork:
A split in the blockchain, resulting in two separate branches, an original and a new alternate version of the cryptocurrency. As a single blockchain forks into two, they will both run simultaneously on different parts of the network. For example, Bitcoin Cash is a Bitcoin fork.
FOMO:
Fear of missing out.
Frictionless:
A system is frictionless when there are zero transaction costs or trading retraints.
FUD:
Fear, Uncertainty and Doubt regarding the crypto market.
Gas:
A fee paid to run transactions, dapps and smart contracts on Ethereum.
Halving:
A 50% decrease in block reward after the mining of a pre-specified number of blocks. Every 4 years, the “reward” for successfully mining a block of bitcoin is reduced by half. This is referred to as “Halving”.
Hardware wallet:
Physical wallet devices that can securely store cryptocurrency maximally. Some examples are Ledger Nano S**,** Digital Bitbox and more**.**
Hash:
The process that takes input data of varying sizes, performs an operation on it and converts it into a fixed size output. It cannot be reversed.
Hashing:
The process by which you mine bitcoin or similar cryptocurrency, by trying to solve the mathematical problem within it, using cryptographic hash functions.
HODL:
A Bitcoin enthusiast once accidentally misspelled the word HOLD and it is now part of the bitcoin legend. It can also mean hold on for dear life.
ICO (Initial Coin Offering):
A blockchain-based fundraising mechanism, or a public crowd sale of a new digital coin, used to raise capital from supporters for an early stage crypto venture. Beware of these as there have been quite a few scams in the past.
John mcAfee:
A man who will one day eat his balls on live television for falsely predicting bitcoin going to 100k. He has also become a small meme within the crypto community for his outlandish claims.
JOMO:
Joy of missing out. For those who are so depressed about missing out their sadness becomes joy.
KYC:
Know your customer(alternatively consumer).
Lambo:
This stands for Lamborghini. A small meme within the investing community where the moment someone gets rich they spend their earnings on a lambo. One day we will all have lambos in crypto-valhalla.
Ledger:
Away from Blockchain, it is a book of financial transactions and balances. In the world of crypto, the blockchain functions as a ledger. A digital currency’s ledger records all transactions which took place on a certain block chain network.
Leverage:
Trading with borrowed capital (margin) in order to increase the potential return of an investment.
Liquidity:
The availability of an asset to be bought and sold easily, without affecting its market price.
of the coins.
Margin trading:
The trading of assets or securities bought with borrowed money.
Market cap/MCAP:
A short-term for Market Capitalization. Market Capitalization refers to the market value of a particular cryptocurrency. It is computed by multiplying the Price of an individual unit of coins by the total circulating supply.
Miner:
A computer participating in any cryptocurrency network performing proof of work. This is usually done to receive block rewards.
Mining:
The act of solving a complex math equation to validate a blockchain transaction using computer processing power and specialized hardware.
Mining contract:
A method of investing in bitcoin mining hardware, allowing anyone to rent out a pre-specified amount of hashing power, for an agreed amount of time. The mining service takes care of hardware maintenance, hosting and electricity costs, making it simpler for investors.
Mining rig:
A computer specially designed for mining cryptocurrencies.
Mooning:
A situation the price of a coin rapidly increases in value. Can also be used as: “I hope bitcoin goes to the moon”
Node:
Any computing device that connects to the blockchain network.
Open source:
The practice of sharing the source code for a piece of computer software, allowing it to be distributed and altered by anyone.
OTC:
Over the counter. Trading is done directly between parties.
P2P (Peer to Peer):
A type of network connection where participants interact directly with each other rather than through a centralized third party. The system allows the exchange of resources from A to B, without having to go through a separate server.
Paper wallet:
A form of “cold storage” where the private keys are printed onto a piece of paper and stored offline. Considered as one of the safest crypto wallets, the truth is that it majors in sweeping coins from your wallets.
Pre mining:
The mining of a cryptocurrency by its developers before it is released to the public.
Proof of stake (POS):
A consensus distribution algorithm which essentially rewards you based upon the amount of the coin that you own. In other words, more investment in the coin will leads to more gain when you mine with this protocol In Proof of Stake, the resource held by the “miner” is their stake in the currency.
PROOF OF WORK (POW) :
The competition of computers competing to solve a tough crypto math problem. The first computer that does this is allowed to create new blocks and record information.” The miner is then usually rewarded via transaction fees.
Protocol:
A standardized set of rules for formatting and processing data.
Public key / private key:
A cryptographic code that allows a user to receive cryptocurrencies into an account. The public key is made available to everyone via a publicly accessible directory, and the private key remains confidential to its respective owner. Because the key pair is mathematically related, whatever is encrypted with a public key may only be decrypted by its corresponding private key.
Pump and dump:
Massive buying and selling activity of cryptocurrencies (sometimes organized and to one’s benefit) which essentially result in a phenomenon where the significant surge in the value of coin followed by a huge crash take place in a short time frame.
Recovery phrase:
A set of phrases you are given whereby you can regain or access your wallet should you lose the private key to your wallets — paper, mobile, desktop, and hardware wallet. These phrases are some random 12–24 words. A recovery Phrase can also be called as Recovery seed, Seed Key, Recovery Key, or Seed Phrase.
REKT:
Referring to the word “wrecked”. It defines a situation whereby an investor or trader who has been ruined utterly following the massive losses suffered in crypto industry.
Ripple:
An alternative payment network to Bitcoin based on similar cryptography. The ripple network uses XRP as currency and is capable of sending any asset type.
ROI:
Return on investment.
Safu:
A crypto term for safe popularized by the Bizonnaci YouTube channel after the CEO of Binance tweeted
“Funds are safe."
“the exchage I use got hacked!”“Oh no, are your funds safu?”
“My coins better be safu!”


Sats/Satoshi:
The smallest fraction of a bitcoin is called a “satoshi” or “sat”. It represents one hundred-millionth of a bitcoin and is named after Satoshi Nakamoto.
Satoshi Nakamoto:
This was the pseudonym for the mysterious creator of Bitcoin.
Scalability:
The ability of a cryptocurrency to contain the massive use of its Blockchain.
Sharding:
A scaling solution for the Blockchain. It is generally a method that allows nodes to have partial copies of the complete blockchain in order to increase overall network performance and consensus speeds.
Shitcoin:
Coin with little potential or future prospects.
Shill:
Spreading buzz by heavily promoting a particular coin in the community to create awareness.
Short position:
Selling of a specific cryptocurrency with an expectation that it will drop in value.
Silk road:
The online marketplace where drugs and other illicit items were traded for Bitcoin. This marketplace is using accessed through “TOR”, and VPNs. In October 2013, a Silk Road was shut down in by the FBI.
Smart Contract:
Certain computational benchmarks or barriers that have to be met in turn for money or data to be deposited or even be used to verify things such as land rights.
Software Wallet:
A crypto wallet that exists purely as software files on a computer. Usually, software wallets can be generated for free from a variety of sources.
Solidity:
A contract-oriented coding language for implementing smart contracts on Ethereum. Its syntax is similar to that of JavaScript.
Stable coin:
A cryptocoin with an extremely low volatility that can be used to trade against the overall market.
Staking:
Staking is the process of actively participating in transaction validation (similar to mining) on a proof-of-stake (PoS) blockchain. On these blockchains, anyone with a minimum-required balance of a specific cryptocurrency can validate transactions and earn Staking rewards.
Surge:
When a crypto currency appreciates or goes up in price.
Tank:
The opposite of mooning. When a coin tanks it can also be described as crashing.
Tendies
For traders , the chief prize is “tendies” (chicken tenders, the treat an overgrown man-child receives for being a “Good Boy”) .
Token:
A unit of value that represents a digital asset built on a blockchain system. A token is usually considered as a “coin” of a cryptocurrency, but it really has a wider functionality.
TOR: “The Onion Router” is a free web browser designed to protect users’ anonymity and resist censorship. Tor is usually used surfing the web anonymously and access sites on the “Darkweb”.
Transaction fee:
An amount of money users are charged from their transaction when sending cryptocurrencies.
Volatility:
A measure of fluctuations in the price of a financial instrument over time. High volatility in bitcoin is seen as risky since its shifting value discourages people from spending or accepting it.
Wallet:
A file that stores all your private keys and communicates with the blockchain to perform transactions. It allows you to send and receive bitcoins securely as well as view your balance and transaction history.
Whale:
An investor that holds a tremendous amount of cryptocurrency. Their extraordinary large holdings allow them to control prices and manipulate the market.
Whitepaper:

A comprehensive report or guide made to understand an issue or help decision making. It is also seen as a technical write up that most cryptocurrencies provide to take a deep look into the structure and plan of the cryptocurrency/Blockchain project. Satoshi Nakamoto was the first to release a whitepaper on Bitcoin, titled “Bitcoin: A Peer-to-Peer Electronic Cash System” in late 2008.
And with that I finally complete my odyssey. I sincerely hope that this helped you and if you are new, I welcome you to crypto. If you read all of that I hope it increased, you in knowledge.
my final definition:
Crypto-Family:
A collection of all the HODLers and crypto fanatics. A place where all people alike unite over a love for crypto.
We are all in this together as we pioneer the new world that is crypto currency. I wish you a great day and Happy HODLing.
-u/flacciduck
feel free to comment words or terms that you feel should be included or about any errors I made.
Edit1:some fixes were made and added words.
submitted by flacciduck to CryptoCurrency [link] [comments]

New rule! Also are cryptocurrencies an investment, will there be a crash? Everything answered here!

This is going to be the only crypto post for now and an announcement:
Rule 6: Bitcoins & cryptocurrenies should be discussed in CryptoCurrency. Posts regarding this topic will be automatically removed.
If there's a stock correlated with cryptocurrencies, like coinbase going IPO, then that's fine, you might have to message the mods after posting to have it approved, no big deal.
Also if you're questioning whether something is an investment or not, just search for it on personalfinance. For general currency trading strategies, see forex .
If you're wondering if bitcoins are an investment or if there will be a crash, read on.

Are cryptocurrencies an investment?

This post is going to deal with bitcoins & cryptocurrencies as an investment... they're more speculative. All currencies are speculative mostly due to how the forex market works, but more because of exchange rates between countries keep currencies balanced (including inflation, country debt, interest rates, political & economic stability, etc), so you can only profit in price fluctuations.
Sure you could buy the currency of a depressed country, like Mexico decades ago, and then hold in the hopes it'll go up (which it did for Mexico), but that's also speculation (no one knew Mexico would pay off so much debt).
Bitcoins are also affected by other countries' currency values, but more so by the future expectation of legitimacy, world wide adoption, limited gains from mining, and eventual limit in supply. But at any given moment the United States could pay off more debt, raise interest rates to reduce inflation (or cause deflation), grow GDP, or even reduce the supply of USD all of which would increase the value of USD (keep in mind bitcoins can't do any of these things).
Far too many people are treating cryptocoins as an investment because currently (June 5th 2017) a lot of crypto investors are worth a lot of money, god bless you people, so this post will also help you determine if we're headed for a crypto crash and maybe you can keep those profits.

Should I invest in cryptocurrencies?

Understand that an investment is something you hope will go up in the future or provide income, both of which for the long term vs speculation which profits on short term inefficiencies.
Speculative securities are typically commodities, options, bonds, and currencies, but also stocks that are volatile enough to give you extreme returns or extreme loses.

Examples of investments:

Examples of speculation:

Reducing the risk of speculation

Typically for speculation you reduce risk by reducing your trade size and timeframe, but since you're trying to invest into something that is speculative, you can try:
Asset allocation, a strategy that reduces risk.. If you're 80% stocks, 15% bonds, 4% gold, and 1% bitcoins, if something were to happen to bitcoins, you still have 99% of your money.
But even very aggressive long term portfolios leave speculation out completely and just go 100% stocks because stocks benefit from growth while speculative securities like gold benefit from global turmoil in the short term. Only mid risk & mid term portfolios can take advantage of gold's speculative returns.
I also mention asset allocation because many crypto investors have been using this strategy on a portfolio of 100% crypto coins, but that doesn't help you reduce the overall risk of crypto coins, you're just reducing the risk of 1 speculative asset with another speculative asset. 100% crypto portfolio would face the same risks such as being made illegal, IRS aggressively hunting down crypto profits, a drop in correlated coin markets, or just a loss of popularity would all cause a sell off. Even the USD or Chinese currencies becoming more valuable would reduce the value of crypto coins.

Should I buy coins right now?

Cryptocoins are a better investment after a period of consolidation when volatility has stabilized:

Bitcoin 2013/2014 speculation, chart

Bitcoin 2015 consolidation, chart

Source Bitstamp exchange, while the volume is #2 to GDAX, Bitstamp is better to look at for historical price/data, more charts here.

RSI & MACD key for above charts and primer

Analyzing overbought signals

So the first chart above have RSI & MACD screaming that bitcoin is overbought and you shouldn't invest in 2013/2014.
The black squares in the 2nd chart show consolidation and reduced volatility, a "better" time to invest. If you were trading short term, it would be a whole different story, and there would be opportunities to buy & short, but since this is written for investing, the small overbought signals are ignored, so if you were to buy Bitcoin at $300 inside the first blacksquare (2nd chart) and then it suddenly drops to 25%, it's okay because the volatility is much lower compared to previous price movements (nothing compared to 80% loss in the 1st chart). Any investor would tell you a 25% drop is terrible, but bitcoins are speculative and that kind of drop is pretty damn good for this level of volatility.

Nothing goes straight up forever

and anything that comes near this vertical incline will eventually lose 80% to near 100%, always happens, it's usually preceded by emotions (price euphoria), attention, and increased volume, all classic signs that something is becoming riskier.
Other speculative securities gaining multiples and then losing 80% to near 100% of value:

Notable comments on reddit:

*This is just to get you guys looking at different subs on this topic, and yeah it's mostly anti-crypto, but don't let that discourage you.

Is Bitcoin going to crash?

Maybe, the signals are getting louder, you tell me: The only chart you wanted to see this entire time.
So based on the above chart, is bitcoin overbought? MACD levels are the same as 2013's crash, but the increased in value is around 4.3x or 2.4x (depending on which you look at), so maybe we'll see another spike before a crash, I don't know, it's up to interpretation right now. There's the emotional price levels of 3000 and 4000 that we might have no problem getting to in an overbought environment before a correction. And how big will the correction be? I think 80%, but it very well could be around 50% down to $1200, the previous level of resistance which would become support.
I put everything above in its own wiki here.
Well I hope that helps everyone. Sorry to anyone that may feel butthurt on classifying cryptocoins as speculation, I hope you understand the facts. Feel free to argue or agree with this. If I made any mistakes and you point them out, I'll correct them and give you credit for it in an update to this post and the wiki.
Also the automod will is just going to blanket remove posts (not comments) with the following keywords {crypto, bitcoin, btc, etherium, altcoin} (see update 4 below) (this will eventually get relaxed if Coinbase ever IPOs) and then it'll send the user this message:
"Sorry your post[link] was removed in stocks because of rule 6: Bitcoins & cryptocurrenies should be discussed in CryptoCurrency. You can find more information in our are-cryptocurrencies-investments wiki. If you're trying to discuss a non-OTC stock related to cryptocoins like Coinbase IPO, or this was just a mistake, message the mods and they'll approve your post, thanks."
Update: Created wiki, added relevant websites and sub reddits. Also turned on automod reply.
Update2: those relavant websites and subreddits I put into the wiki, thanks u/dross99 for recommending ethereum

Relevant websites/wikis

Relevant subreddits

  • CryptoCurrency - main sub to learn about all bit & altcoins
  • ethtrader - trading eth
  • ethereum - for more eth information
  • btc - the place to have bitcoin discussions or r/CryptoCurrency; while Bitcoin does have a lot of information on Bitcoins in general, you'll find many reddit subs completely opposed to Bitcoin for heavy censorship of discussions, especially those critical of bitcoins, so you're better off reading the sub's wikis and discussing bitcoins in btc & r/CryptoCurrency
  • personalfinance
Update3: Shoutout to the mods on CryptoCurrency
Update4: Updated auto mod keywords, it's not a blanket catch all, a little completed to understand if you don't know regex but it looks like this
"crypto ?(trading|investing)","(should(| I)|could(| I)|can(| I)|how to|is it worth) (buy|sell|mine|min)(|ing) (btc|btcs|bitcoin|ether|etherium|eth|litecoin|ripple|altcoin)" 
submitted by provoko to stocks [link] [comments]

Wafflepool and Multipool together control over 50% of the global hashrate. Shibes, this is a serious problem.

tl;dr: MFW I see a threat to Dogecoin: http://i.imgur.com/vtF2yU6.gif
As of this writing, Wafflepool (with 37.66% of the network hashrate) and Multipool (with 18.74% of the network hashrate), control 56.34% of the network hash rate.
Source: https://pools.rapidhash.net/
This is a problem
Are these pools likely to collude to 51% our beloved coin? Not likely at all.
Does every human person with access to two computers on the Internet practice perfect security when it comes to authentication and server hardening? Not likely at all.
The 51% attack is now quite possible if someone compromises just two computers: the controllers at the top of these two pool hierarchies.
+GoodShibe talked about decentralizing hashrate last week in Of Wolves and Weasels. In response, I put up a quick and admittedly quite imperfect project to help explain and combat centralization by promoting ubiquitous CPU mining on existing, unused hardware.
Dogecoin needs to be peer-to-peer, for real, to survive
The 51% Attack is not theoretical -- read up on the attack last June against Feathercoin. They were unprepared for this and I believe as a result of this event, Feathercoin is now all but dead. Today, the attacker(s) is/are still unknown and presumably at large.
I don't know how to solve this. I know there are many, many smart cryptocoin experts on this subreddit. Cheer me up so I can go back to goofing off with this play-pretend-but-really-real-mostly cryptocurrency project.
Thanks!
edit: first 26 minutes of this post, 3 uprockets, 3 downdigs. funky i guess i have to gun for the controversial tab instead of the hot tab.
edit1: first 21 hours of this post, tons of uprockets and tips. Thanks everyone! I learned a lot about hashrate and malicious intent, and I hope others did, too! And here I thought the 0 score was going to doom this post. For more like this, visit /panicdoge!
submitted by TheGoddamBatman to dogecoin [link] [comments]

MinerBox: More than just a new useful tool for cryptocoin miners

MinerBox: More than just a new useful tool for cryptocoin miners
It’s been a long time since mining has become a simple and profitable venture for many cryptocurrency investors — it’s like digging through layers of digital rock, and if all goes well, you are rewarded at the end of your toils. 💰💸
Monitoring this computationally intense process plays a huge role in making it competitive and effective. As the launch of MinerBox marches on, we’re excited to introduce you some of its major features, that will push your mining experience even further forward.
First of all, let’s unpack the word “MinerBox” and give it a brief description👇🏻
MinerBox is a tool, that is designed for cryptocoin miners to make easy control of the mining process. With MinerBox you can remotely monitor multiple mining rigs: view current state and historical data.The major advantage of the app is possibility to notify the users regarding mining speed and workers changes based on predefined alerts. Also you are able to monitor different mining pool accounts in one place.
With MinerBox, you can also check all cryptocurrency current market data, and add alerts to get notified when specific currency value changed.

https://preview.redd.it/1acrdflpywz21.png?width=800&format=png&auto=webp&s=87a88d28c39c41b4f6ebea13851ce9ad8802e967
Now, let’s move forward and shine a light on the app from different angles 📲

Accounts

You can navigate to list of configured accounts from the main menu and also add new ones 👇🏻


https://preview.redd.it/cmkvzy9tywz21.png?width=800&format=png&auto=webp&s=9f9ee2390a3cc36109583d2df385525396910be4
Each pool has specific set of provided data based on pool API`s. Here is the detailed information you can access from your account details:
  • Details — overall information regarding mining speed, workers, mined coins confirmed and unconfirmed balance, valid and invalid shares.
  • Hashrate — representation can be done as a chart for pools which are supporting such API.
  • Payouts — list of transactions with TX ID, balance of mined coin, time stamp, etc.
  • Estimation — estimate earnings based on current mining speed.
  • Alerts — list of configured alerts for mining speed and workers count.
  • Pool info — detailed pool information.

Which mining pools are currently supported?

Bitfly: Flypool Zcash (ZEC / Zcash), Ethermine (ETH / Ethereum), Ethermine ETC (ETC / Ethereum Classic)
MinigPoolHub: All pools (36 pools)
Suprnova: More than 20 pools (Bitcoin Gold, VERGE, Ravencoin, ZENCash, Lbry.io Credits, Decred, Digibyte and others)
MoneroOcean: Monero (XMR)
New pools will be added per request!

Notifications ✅

All received notifications are placed under the respective view, which itself has properly divided tabs by type of notification.


https://preview.redd.it/zphq893zywz21.png?width=800&format=png&auto=webp&s=fa76c4ad8424547de7f8851e5db8b52e217d25f8
Coin Price 💹
The view is designed for real time and historical market data representation.

https://preview.redd.it/iei6is56zwz21.png?width=800&format=png&auto=webp&s=3a68cbdeaca075dbf69ef54fd7bee5481969cc65
Download, enjoy and share your feedback with us!

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Bitfinex chapter, quick preview: an attempt to explain WTF. Doesn't include latest developments. Please nitpick.

Currently trying to do a non-shit cover for the book, which is actually a huge amount of work given I have no artistic talent whatsoever (though I'm OK at graphic design).
So instead of doing that, here's what I have so far on a current rich seam of comedy gold!
Please look over this and flag any inaccuracies or unclear bits. What they did is convoluted and confusing, and a good example of why bankruptcy laws exist, so we need to maximise clarity.
The latest developments are not included, except the redemption. But OH BOY WILL SAID DETAILS BE FUN!
Bitfinex: software competence turns out not to be optional
If you’re not interested in mining or selling something to get bitcoins, exchanges unfortunately haven’t improved much since Mt. Gox.
Bitfinex is one of the closer things Bitcoin has, or had, to a reputable exchange. Advocates liked and trusted it and enjoyed using it – it has margin trading and other fancy features – and recommended it to others.
Its software turned out to be made entirely of copy-and-pasted cheese and string that nobody at all knew how to fix. This is quite typical of Bitcoin-related code and systems, as if financial software and systems had never happened.
Bitfinex was based on the codebase from defunct exchange Bitcoinica, which was founded by sixteen-year-old Bitcointalk user “Zhoutong” and shut down after being hacked in 2012. One of Bitfinex's early developers described what the system was like when he had been working on it:[1]
It has proved impossible to cleanly modularize and upgrade zhoutong’s spaghetti code. (Or if it is possible, Bitfinex technical team doesn’t know how to proceed.) In the current system, everything is entangled. There is no clean separation of concerns. They inherited this steaming shitpile of a codebase and they're stuck with it.
Their legacy data model, as implemented in their current system is insane. The system was designed by a 16 year old FFS! Everything is ad hoc, there is no specification, there was zero documentation, there is minimal accounting for edge cases, exception handling was tacked on as an afterthought. There was no thinking things through. Everything is ad-hoc! Therefore it kinda works except when it doesn’t!
A Bitfinex representative responded stating that “a grand total of 0 lines from Bitcoinica's code exist on Bitfinex” (the site moved at least partially to the AlphaPoint platform in 2015), but the poster asked him to explain, if Bitfinex had an all-new codebase, how they had accurately reproduced bugs that dated back to Bitcoinica.
The software problems were glossed over for years, because day traders are otherwise known as compulsive gamblers, and cryptocurrency day traders are the worst. I don’t often use the word “degenerate,” but if I did, they’re who I’d apply it to: reduced to a lizard brain, typing and clicking obsessively and watching for a number to change and provide a hit to the pleasure centre, all other mental and bodily functions atrophied. They make foreign exchange day traders look sober, considered and balanced.
On 12 August 2016, nearly 120,000 BTC (then around US$60 million) was stolen from Bitfinex customer accounts. The accounts were secured with multiple signatures, including from third party agency Bitgo, but the hacker seemed to know Bitfinex’s systems and even overrode Bitfinex’s transaction limits. On many accounts, two of the three signatures were Bitfinex, and Bitgo routinely allowed all requests from Bitfinex because there were so many.
Usually a theft of this magnitude heralds an exchange disappearing or shutting up shop with apologies, or the regulators noticing their existence and swooping in. In this case, as the supplier of gambling trading facilities not available elsewhere, Bitfinex felt there was sufficient demand for their services that a drastic action would be considered acceptable to their users. To wit: a 36% “haircut” for all customers. Depositors who had been hacked would be compensated with money from depositors who hadn’t.
You might think that compensating your customers using money from other customers, while the managers or owners don’t take a hit in any way, would be grossly illegal in any reasonable financial system. Particularly as bankruptcies usually go creditors, then depositors, and equity holders last. But welcome to Bitcoin.
Why on earth did the users put up with this? Secondly, because this was claimed to be the haircut they’d take if Bitfinex were to liquidate. (No, Bitfinex didn't show their working.) But firstly, because they were obsessive gamblers, desperate for more access to their strip mall casino. Bitfinex promptly went back up to No. 1 on the Bitcoin exchange volume charts, because Bitcoiners never learn.
Bitfinex didn’t want its users to feel they’d been left high and dry. So it offered them Bitfinex tokens (BFX) for their losses, saying (though not guaranteeing) that they’d totally come through at some later date on these IOUs and reimburse the holders with their face value:[2]
The token is a notional credit, is dependent on the Bitfinex Group’s recovery of Losses, and is subordinated to any claims against the Bitfinex Group not related to the Losses.
Meanwhile, you could trade these tokens – trading away your right to reimbursement if the stolen coins were recovered – and use them as collateral for financed trades! Only on Bitfinex, of course:
The token and your rights pursuant thereto may not be assigned except with notice to, and the prior consent of, the Bitfinex Group, on terms to be determined by the Bitfinex Group.
You might think this would constitute offering an unregistered security, but welcome to Bitcoin. The price for BFX dropped below its $1 face value even before release, opening at $0.80 and ending the day at $0.32.
Bitfinex redeemed about 1% of the BFX in early September. As it happened, they had enabled margin trading on BFX one day before, and the price went up from $0.40 to $0.56 just before the announcement. Speculation was that they had paid for the 1% redemption using insider margin trading on the BFX itself, thus looking good for free,[3] but I’m sure it was all just pure coincidence.
Bitfinex was getting their customers coming and going, and keeping them coming and going. Around the time of the 1% redemption, 30% of trading on Bitfinex was BFX, which they collected trading fees on. Furthermore, the BFX tokens kept their customers on Bitfinex in the hope of a payout, rather than just cashing out and never coming back.
In October, they came up with another layer on the scheme: the Recovery Right Token (RRT), for everyone who had converted their BFX for further gambling. Should any of the stolen coins ever be recovered, Bitfinex would first pay back the BFX holders who had not converted their BFX to something else, then pay back RRT holders with the remainder. That’s a made-up token on a made-up token on money they would normally have had to pay back.
Convoluted arrangements like this are part of why bankruptcy laws, let alone financial trading regulations, exist: so that creditors and depositors get paid first and fairly in a clear and open manner, rather than having what they are owed obscured in fast-talking flimflam.
In the meantime, Bitfinex set a financial and security audit in motion. Not by any such tawdry profession as actual accountants; they used “Ledger Labs Inc., a top blockchain forensics and technology firm,” which happens to be run by Vitalik Buterin, creator of altcoin Ethereum (of which more later).[4]
They also posted an open letter to the hacker, seeking “a mutually agreeable arrangement in exchange for an enormous bug bounty”, i.e., if only they would explain how they’d hacked Bitfinex: “Our interest here is not to accuse, blame or make demands, but rather to discuss an arrangement that we think you will find interesting.”[5]
It was entirely unclear to any observer what possible arrangement would be more interesting to the thief than “I have all your bitcoins now.” The stolen bitcoins are slowly being sold off through other exchanges.[6] This is very like a bank accepting dye-marked notes known to have been stolen from another bank and deciding they don’t care. At least Bitfinex will never have to cash in those RRTs.
In April 2017, Bitfinex announced they would finally redeem 100% of the BFX tokens for their $1.00 face value![7] This involves paying back the dollar value of the stolen bitcoins at the time of the theft – i.e., about half what it was by April. They also shut down all margin positions on BFX, putting users with insufficient collateral into debt to them (on a margin position on their own debt).
The founder of Bitfinex, Raphael Nicolle, has never seemed to appreciate the problem financial regulators tend to have with schemes that pay early investors using money from later investors. He enthusiastically backed the Pirateat40 Ponzi – though at least he later apologised for that one[8] – and came up with a high-yield scheme of his own:
So I'm thinking of the following plan: when I need more coins than I have to fill an order, I will ask everyone that previously “registered” with me to lend me some btc. After 7 days, I will return all of it, principal + 2% interests. For you to be contacted, you would have to post here or in PM to say you might lend me bitcoins, and approx. how many you'd be willing to lend me.[9]
Nicolle has not been seen online since the 120,000 BTC hack.[10]
The Bitfinex hack does answer one common question about Bitcoin:
“If you're so down on Bitcoin, why don't you short it?”
“Well ...”
1 elux. Comment on “[Daily Discussion] Sunday, October 04, 2015”. Reddit /bitcoinmarkets, 4 October 2015.
2 Bitfinex. “BFX Token Terms”. August 2016.
3 e.g., 7a11l409b1d3c65. "Buttfinex pays back 1% of their debt - Butters cheer, not realizing that they have been scammed again". Reddit /buttcoin, September 2016.
4 Zane Tackett. “Bitfinex: Update Regarding Security Audit, Financial Audit, And More”. Reddit /bitcoinmarkets, 17 August 2016.
5 Giancarlo Devasini. “Message to the individual responsible for the Bitfinex security incident of August 2, 2016”. Bitfinex blog, 21 October 2016.
6 Andrew Quentson. “Bitfinex’s Hacked Bitcoins Are on the Move; 5% Recovery Bounty Offered”. CryptoCoinsNews, 27 January 2017.
7 “100% Redemption of Outstanding BFX Tokens”. Bitfinex, 3 April 2017.
8 unclescrooge. “[shame thread]The sorry and thank you Pirateat40 thread”. Bitcointalk.org Bitcoin Forum > Economy > Marketplace > Lending > Long-term offers, 17 August 2012.
9 unclescrooge. "Unclescrooge 1-week deposit program at 2%/week". Bitcointalk.org Bitcoin Forum > Economy > Marketplace > Lending > Long-term offers, 13 September 2012.
10 Andrew Quentson. “Bitfinex’s Founder Seemingly Tried to Start a Ponzi Scheme”. Cryptocoins News, 8 June 2016. hai
submitted by dgerard to Buttcoin [link] [comments]

Restructuring my portfolio and looking for advice

A bit of introduction on myself before asking my question: As a freelancer, I have been writing/translating articles since August and finally had the chance to invest some in cryptocoins in October. I have been doing just average so far, not so good, not so bad. My portfolio came down from 13k to 5k, which I do not mind that much. Though lately I have noticed that my overall approach is not exactly optimal: When Bitcoin goes relatively sideways (between 8k and 12k as in lately), I do not take any action, thus keep losing money. This does not bother me much as well, there are other things I have to attend to and cannot spend much time watching charts.
But here is the thing: What's my goal here? I don't mean the amount I would make before exiting the market. Rather I mean that how I do increase the value of my portfolio in BTC. I gave it some thought and this structure is what I have in my mind at last.
Dividing my portfolio into three levels or tiers: 1) Hedge: Some established top 10 coins with good fundamentals such as Neo and ETH. I think Neo will have a great year and even if ETH does relatively bad, I can use it for ICOs. The main goal of my portfolio is to increase the amount of coins in this tier and I won't sell any coin in this tier unless I have good reason to do so (overbought, BTC bear run etc.). 2) Passive income: Mostly staking coins such as Ark, but I will put some GVT down as well (given that the beta shall be released in April). For I don't have much BTC in total, these will not produce great interests most probably, so it is better if their market cap is relatively low (not that low I know) and they can grow BTC-wise. When I see the opportunity, I will turn these incomes to tier-1 coins. 3) Low cap: Mostly low cap coins that I have trust in. This is where I "actively" get my BTC. Never hesitate to sell some when an opportunity occur. Returns goes to tier-1 and tier-2 coins.
I have not decided yet whether this is the right way to go for me. What do you guys do in your own cases? Do you have any advices or criticisms? Let me know. Peace.
submitted by ngecoin to CryptoCurrency [link] [comments]

The intelligent investors guide to cryptocurrency: Part 3a - The value proposition

*Introductions: I'm joskye. A cryptocurrency investor and SDC holder. *
...
Hi again. This is the third part in our ongoing series on how to trade better and determine intelligent investments in cryptocurrency for the future.
In part 3 I will now discuss Cryptocurrency valuations, price metrics and identifying coins of value, worth holding.
...
What makes a coin worth holding: The value proposition
What makes anything worth holding? How much of themselves is a person willing to put into it - that's how much.
Cryptocurrency is largely driven by faith. It is a speculative enterprise i.e. people mostly put money into cryptocurrencies believing they will go up in value in the future; their plan to sell at a higher price when it does.
Currently most cryptocurrencies serve no function than being currencies in themselves. Unfortunately these currencies are largely not recognised by governments, most institutional investors or companies are legitimate stores of value or legitimate currencies of transaction. As such legislation and rules around the world regarding them vary considerably and are often absent.
There are very few cryptocurrencies that have legitimised backing, are insured or supported by enterprises that are insured for their loss and essentially there is little to protect you if you lose money through them.
So why do people bother putting money into cryptocurrencies it in the first place?
If the present and future value of a cryptocurrency is driven purely by speculation then you are essentially gambling by putting your money to buy that coin and joining the pool of other gamblers who are doing so. You are essentially joining a ponzi scheme and waiting game hoping you've gotten in early enough and convinced enough people to buy more of the asset you hold at slightly higher prices until a price is reached that you can cash out at (or until that thing becomes so big that everyone starts using it as their store of value).
This type of dynamic essentially underpins the mentality of most investments and trades i.e. buy low and sell high. I'd like to add buy early for investors since buying during a low in an already established asset may be setting yourself up for being forced to sell at a lower low later (especially if you don't understand the fundamentals of that asset).
If however the present or future value of a cryptocurrency is driven by some service other than speculation which can attract and drive fiat currency into it's ecosystem then it is potentially valuable.
I.e. will people actually use their USD/Yuan/Euro/GBP/Yen/INR etc to actually purchase the coin in question to do something useful with it (other than gamble on it's future price).
There are some cryptocurrencies which satisfy this criteria:
...
Bitcoin
It is not a currency, it is a remittance system and store of value. It has a reputation increasingly to being seen as a digital version of gold.
Bitcoin has the cultural and historical advantage of being the first cryptocurrency. It is also still the largest cryptocurrency by a long way with the largest marketcap i.e. price per bitcoin [$952 as of writing] x the number of bitcoin in circulation [16,074,687] which is $15.3 billion. Compare to it's next biggest competitor Ethereum which has a marketcap of $700 million (i.e. only 4.57% of Bitcoin's).
Bitcoin's value proposition is that it is a store of value. It may not be able to sustain this without significant upgrades to it's underlying software.
...
Monero (XMR)
Bitcoin does not have anonymity inherently built into it's software. Therefore if you buy and sell Bitcoin especially on cryptocurrency exchanges (where user registration is required), it is possible to trace whom Bitcoin is being transferred from and to.
For this reason I see Monero as Bitcoin + anonymity. I.e. it's value proposition is as store of hidden wealth. I also believe it does not have the issues that bitcoin does namely, same level of mainstream recognition, spotlight of regulatory awareness and developers do seem to be more focused on achieving better scalability and transaction times (it already does 10-20 minute verification time vs bitcoins 1 hour) which gives it better potential as a currency presently compared to Bitcoin.
-This sort of market cap dwarfs gold. However this type of up-scaled usability will not occur until the transaction verification times are much faster (nanoseconds) and the protocol is enhanced to cope with much larger transactions volumes and frequency at that speed; We are a long way off that.
I do believe fiat stored in Bitcoin will gradually transfer into Monero boosting it's value. I am not sure Monero though can presently bring fresh fiat currency (USD, Yuan etc) into it's ecosystem beyond outsider speculation in future price.
It is not unique in it's function or potential value proposition. My warning about holding Monerofor the long term is that it has competition for it's function not just from Bitcoin itself but from other anonymous coins such as Zcash, DASH (which provides instantaneous settlement) and SDC. Perhaps more importantly, Ethereum (ETH) is now planning to implement optional anonymity (via zSNARKs) in it's transaction network; if it does when combined with Ethereum's own functionality and well defined development roadmap (that will likely several second verification times in late 2017) would render XMR potentially redundant.
...
Ethereum (ETH)
The value proposition for Ethereum is that it allows for complex, trustless settlement systems to be built on it. This is a huge deal because the scope of applications is wide and although the technology needs to mature (to support greater transaction volume, frequency and more secure functionality) the sheer amount of fiat such a platform could attract through conversion of traditional centralised settlement and contract services to more secure decentralised platforms is very huge.
...
Shadowcash (SDC)
The value proposition is a double escrow, fully anonymous, decentralised privacy platform which incorporates private chat, private marketplace and secure, trustless private settlement system into one platform that is fully integrated into it's own blockchain.
Shadowcash already has multiple features that make it an excellent store of value: Low coin supply, potential for great demand, near instantaneous transaction verification times, ability to earn interest for simply holding it.
Shadowcash is incredibly easy to use and is heavily focused on usability. This is absolutely essential to it's end users: customers who seek convenient easy and speedy secure anonymous transaction. This will be a dream come true for traditional users of darknet markets.
To explain why lets elaborate on traditional darknet markets where in order to transact anonymously you have to:
1. Download the TOR browser. 2. Learn how to use it. 3. Buy XMR or Bitcoin. 4. Learn how to transact with these coins *safely* (yes this is still an issue with XMR in spite of it's built in privacy). 5. Learn how to and where to find reliable secure darknet markets. 6. Create accounts on these markets to access them *and* 7. Have faith that the websites and the highly centralised (and thus much more vulnerable) servers hosting those markets you use will not get shut down, not disappear with your money and not betray your transaction details and potentially identities to the authorities should they be infiltrated by them. 
Whereas with Shadowcash's market place this process will become:
1. Download the Shadowcash Umbra client (https://shadowproject.io/en/gettingstarted) 2. Buy some SDC on an exchange and transfer it to your Umbra client. 3. Browse the Shadowcash marketplace and transact securely, safely and anonymously. 
In summary I think Shadowcash can be a very useful application as a privacy platform for private communications and transactions.
...
ICONOMI (ICN)
Those two points constitute it's value proposition. By nature of the way it works it has an easily identifiable P/E ratio based on the amount used to create the fund ($10.5 million) against the current value of that fund based on it's
...
Summary lessons
The first rule in investing or trading in a given cryptocoin is deciding if it has a value proposition:
1. *Can it draw fiat currency (USD, Euro, Yuan etc) in such a way as to give it a valuation that is fully independent of pure speculation?* 2. *Is it unique?* 3. *Is it rare?* A limited supply with a low or negative inflation rate will lead to increasing price as demand goes up. 4. Are there significant risks associated with the value proposition? 
In the next article I will cover lesson 3b: Price metrics and valuations. It will be much shorter I promise but equally informative and we will cover topics such as price determination, impact of speculation, price manipulation, whales and their impact and the impact of bitcoin on the entire cryptocurrency ecosystem.
Finally just to really hammer it home; why am I posting this on the Shadowcash subreddit?
It is because Shadowcash is the best cryptocurrency investment of 2016 and I believe it will be again by March 2017.
...
References:
1. Crypto-Currency Market Capitalizations, https://coinmarketcap.com/, Last Checked 30/01/2017 2. What is the value of all the Gold in the world? http://onlygold.com/Info/All-The-Gold-In-The-World.asp, Last Checked 30/01/2017. 3. ICONOMI Cryptocurrencies Index (ICNX) 21 December 2016 Rebalancing, https://medium.com/iconominet/iconomi-cryptocurrencies-index-icnx-21-december-2016-rebalancing-transformation-into-iconomi-8e31e48493ab#.sptgljv1c 4. ICNx trend chart, https://medium.com/iconominet/iconomi-cryptocurrencies-index-icnx-30-november-2016-monthly-rebalancing-update-3402866243d9#.kw7g4fqcd, Last updated 30th Nov 2017 5. Shadowcash (SDC) - The billion dollar baby!, https://medium.com/@paradox_/shadowcash-sdc-the-billion-dollar-baby-6b86f0660739#.ypz9yme5a, Last updated 16 August 2016. 
...
Disclaimer: I am not responsible for your financial decisions, nor am I advising you take a particular financial position. Rather I am sharing my experiences and hoping you form your own opinions and insights from them. Full disclosure: I have long positions in Ethereum (ETH), Shadowcash (SDC), ICONOMI (ICN), Augur (REP) and Digix (DGD).
submitted by joskye to Shadowcash [link] [comments]

BLOC added to DeltaDirect

Delta is the ultimate Bitcoin & cryptocurrency portfolio tracker app. Keep track of all cryptocoins, including Bitcoin, Ethereum, Litecoin and over 3000 altcoins. Use the free app to get the latest coin prices and market charts in your local currency and get alerts to make sure you don’t miss out on your next crypto investment.

https://preview.redd.it/501x652jmrf21.png?width=1184&format=png&auto=webp&s=76a5e8ce50b7a33b2a77b3fd06cf5d710befe76a
BLOC has been integrated with DeltaDirect so you can know browse and get the latest news and informations directly from the Delta App by looking at the BLOC.MONEY ticker.

https://preview.redd.it/odkqtv6hmrf21.png?width=1242&format=png&auto=webp&s=01c48c5b1c3f16e405710db440e942ba7590283e

submitted by furiousteam to BLOC_MONEY [link] [comments]

In Monero (XMR) You Trust: Everything You Need To Know (XMR's Skyrocketing Future)

Many people have been wondering about the sudden surge price for Monero (XMR). I will break it down so you understand the future that awaits Monero. For many of you that are starting to find out about Monero, it has been around since April 2014. We all know something, success of a group or organization never occurs over a course of a day or two. It actually takes years of development, adaptability, courage and trust (DACT). Notice I didn’t put “publicity”. There is a reason for that, and that reason is called being desperate. When a cryptocurrency is developed and becomes transferable in the blockchain then it was made for a purpose. A purpose that many people would like to use it for. If you’re constantly shoving the website for the cryptocoin in users faces; that just means that the adaptation is simply not there. Monero for the longest time never had a purpose. That’s why many users never heard about Monero in the last two years until recently. Development, adaptability, courage and trust (DACT) has taken place.
Monero contributors have never stopped developing in the first place. They’ve always had a very strong group of individuals that strive to improve Monero every day. Yes, many of you complain about the GUI (Graphic User Interface) and the recent testing for ways to convert fiat to xmr. Although, you’re all missing the big point. Those are components that a cryptocurrency would have by now, correct? Yet, Monero is the third most popular cryptocurrency. With the healthy value Monero currently holds, and the direct conversion already happening through Monero Direct and the official direct conversion Paybee around the corner. You know the price of XMR will soon skyrocket.
Many have complained about the consumers having a hard time purchasing Monero directly just like bitcoin. Adaptability is on its way. Many companies such as Jaxx, Coinomi, and OpenBazaar have been working extra hard to integrate Monero to there applications. Why is it taking so long? Well this puts an end to all your privacy theories. It’s taking longer than expected because Monero (XMR) is actually the only cryptocurrency that is actually private. I’m talking on consumer perspective, a technical perspective, and any other perspective you can think of. The reason Jaxx has taken a long time to integrate Monero since it was announce; is because Monero is developed different then any other cryptocurrency. Here is was Jaxx founder said about Monero “Because of its uniqueness, its like solving a puzzle for the first time, or building something complex without instructions. Then taking something extremely different from anything we've done before and making it work seamlessly with our current code and infrastructure.” That just comes to tell you that Monero developers have put lots of work into XMR and Jaxx has a great team of developers trying their best to put this state of the art technology in the hands of everyone. That also tells you that every cryptocurrency that currently labels themselves as “private”, just take a look at their code. Is it developed from scratch like Monero? Or is an altered bitcoin?
Courage is extremely important in the cryptocurrency industry. Many developers have plans to build a cryptocoin and launch the chart to the moon. They start to realize that it takes years of effort and constant flow of high volumes every day to slowly pull out your profits without hurting the value of there cryptocurrency. True courage is a lead developer or contributor that holds there cryptcoins till they finally give there consumers exactly what they wanted. By then, you’re volumes will be so high that it would be almost impossible to dump the market. Monero has shown dedication to there project and have confidence in the boost of value and the future of Monero.
For anything to succeed, the first thing needed is trust. What makes Monero very special, is that it gained the trust of two consumer markets. First, it has shown the trust in a everyday consumer that invests and trades Monero. Secondly, it has gained the trust of the largest darknet marketplace for being the only cryptocurrency that is anonymous. This explains also the sudden spike; since the IRS started to work with Coinbase and many users have made lot’s of money through bitcoin and will now become transparent to taxations. Expect large volumes to be converted from Bitcoin to Monero for these reasons. These trust factors just keep growing. You never know what the future has in store for Monero. In a few weeks direct fiat to XMR will be available and ecommerce stores will start accepting XMR; and possibly backpages might even ditch bitcoin for its lack of privacy and choose Monero. Many speculations, but only positive gains is coming for Monero. It’s not private because someone is hiding something. It’s private because it’s your currency. People’s currency. The only way to keep it yours is by keeping the watch dogs off of your money. Bitcoin has proven the value of peoples currency. It’s about to have new and improved one; that still respects Bitcoin and respects the people. Monero (XMR).
submitted by cryptonaire- to Monero [link] [comments]

The intelligent investors guide to cryptocurrency: Part 3a - The value proposition

Introductions: I'm joskye. A cryptocurrency investor and holder.
...
 
Hi again. This is the third part in our ongoing series on how to trade better and determine intelligent investments in cryptocurrency for the future.
 
 
In part 3 I will now discuss Cryptocurrency valuations, price metrics and identifying coins of value, worth holding:
 
...
 
What makes a coin worth holding: The value proposition
 
What makes anything worth holding? How much of themselves is a person willing to put into it - that's how much.
Cryptocurrency is largely driven by faith. It is a speculative enterprise i.e. people mostly put money into cryptocurrencies believing they will go up in value in the future; their plan to sell at a higher price when it does.
Currently most cryptocurrencies serve no function than being currencies in themselves. Unfortunately these currencies are largely not recognised by governments, most institutional investors or companies are legitimate stores of value or legitimate currencies of transaction. As such legislation and rules around the world regarding them vary considerably and are often absent.
There are very few cryptocurrencies that have legitimised backing, are insured or supported by enterprises that are insured for their loss and essentially there is little to protect you if you lose money through them.
 
So why do people bother putting money into cryptocurrencies it in the first place?
 
 
If the present and future value of a cryptocurrency is driven purely by speculation then you are essentially gambling by putting your money to buy that coin and joining the pool of other gamblers who are doing so. You are essentially joining a ponzi scheme and waiting game hoping you've gotten in early enough and convinced enough people to buy more of the asset you hold at slightly higher prices until a price is reached that you can cash out at (or until that thing becomes so big that everyone starts using it as their store of value).
 
This type of dynamic essentially underpins the mentality of most investments and trades i.e. buy low and sell high. I'd like to add buy early for investors since buying during a low in an already established asset may be setting yourself up for being forced to sell at a lower low later (especially if you don't understand the fundamentals of that asset).
 
If however the present or future value of a cryptocurrency is driven by some service other than speculation which can attract and drive fiat currency into it's ecosystem then it is potentially valuable.
 
I.e. will people actually use their USD/Yuan/Euro/GBP/Yen/INR etc to actually purchase the coin in question to do something useful with it (other than gamble on it's future price).
 
There are some cryptocurrencies which satisfy this criteria:
 
...
 
Bitcoin
It is not a currency, it is a remittance system and store of value. It has a reputation increasingly to being seen as a digital version of gold.
 
 
 
 
 
Bitcoin has the cultural and historical advantage of being the first cryptocurrency. It is also still the largest cryptocurrency by a long way with the largest marketcap i.e. price per bitcoin [$952 as of writing] x the number of bitcoin in circulation [16,074,687] which is $15.3 billion. Compare to it's next biggest competitor Ethereum which has a marketcap of $700 million (i.e. only 4.57% of Bitcoin's).
 
 
 
 
Bitcoin's value proposition is that it is a store of value. It may not be able to sustain this without significant upgrades to it's underlying software.
 
...
 
Monero (XMR)
Bitcoin does not have anonymity inherently built into it's software. Therefore if you buy and sell Bitcoin especially on cryptocurrency exchanges (where user registration is required), it is possible to trace whom Bitcoin is being transferred from and to.
 
 
For this reason I see Monero as Bitcoin + anonymity. I.e. it's value proposition is as store of hidden wealth. I also believe it does not have the issues that bitcoin does namely, same level of mainstream recognition, spotlight of regulatory awareness and developers do seem to be more focused on achieving better scalability and transaction times (it already does 10-20 minute verification time vs bitcoins 1 hour) which gives it better potential as a currency presently compared to Bitcoin.
 
 
I do believe fiat stored in Bitcoin will gradually transfer into Monero boosting it's value. I am not sure Monero though can presently bring fresh fiat currency (USD, Yuan etc) into it's ecosystem beyond outsider speculation in future price.
 
 
It is not unique in it's function or potential value proposition. My warning about holding Monero for the long term is that it has competition for it's function not just from Bitcoin itself but from other anonymous coins such as Zcash, DASH (which provides instantaneous settlement) and SDC. Perhaps more importantly, Ethereum (ETH) is now planning to implement optional anonymity (via zSNARKs) in it's transaction network; if it does when combined with Ethereum's own functionality and well defined development roadmap (that will likely several second verification times in late 2017) would render XMR potentially redundant.
 
...
Ethereum (ETH)
The first cryptocurrency which was built with the specific intent of incorporating 'smart contracts' into it's platform.
 
 
The value proposition for Ethereum is that it allows for complex, trustless settlement systems to be built on it. This is a huge deal because the scope of applications is wide and although the technology needs to mature (to support greater transaction volume, frequency and more secure functionality) the sheer amount of fiat such a platform could attract through conversion of traditional centralised settlement and contract services to more secure decentralised platforms is very huge.
 
 
...
 
PARTICL (PART) (formerly Shadowcash SDC)
The value proposition is a double escrow, fully anonymous, decentralised privacy platform which incorporates private chat, private marketplace and secure, trustless private settlement system into one platform that is fully integrated into it's own blockchain.
 
 
Particl has multiple features that make it an excellent store of value: Low coin supply, potential for great demand, near instantaneous transaction verification times, ability to earn interest for simply holding it.
 
Particl is incredibly easy to use and is heavily focused on usability. This is absolutely essential to it's end users: customers who seek convenient easy and speedy secure anonymous transaction. This will be a dream come true for traditional users of darknet markets.
 
To explain why lets elaborate on traditional darknet markets where in order to transact anonymously you have to:
1. Download the TOR browser. 2. Learn how to use it. 3. Buy XMR or Bitcoin. 4. Learn how to transact with these coins *safely* (yes this is still an issue with XMR in spite of it's built in privacy). 5. Learn how to and where to find reliable secure darknet markets. 6. Create accounts on these markets to access them *and* 7. Have faith that the websites and the highly centralised (and thus much more vulnerable) servers hosting those markets you use will not get shut down, not disappear with your money and not betray your transaction details and potentially identities to the authorities should they be infiltrated by them. 
Whereas with Particl's market place this process will become:
1. Download the Particl client. 2. Buy some PART on an exchange and transfer it to your Umbra client. 3. Browse the Particl marketplace and transact securely, safely and anonymously. 
 
 
In summary I think Particl can be a very useful application as a privacy platform for private communications and transactions.
 
...
 
ICONOMI (ICN)
Those two points constitute it's value proposition. By nature of the way it works it has an easily identifiable P/E ratio based on the amount used to create the fund ($10.5 million) against the current value of that fund based on it's
 
...
 
Summary lessons
 
The first rule in investing or trading in a given cryptocoin is deciding if it has a value proposition:
 
1. *Can it draw fiat currency (USD, Euro, Yuan etc) in such a way as to give it a valuation that is fully independent of pure speculation?* 2. *Is it unique?* 3. *Is it rare?* A limited supply with a low or negative inflation rate will lead to increasing price as demand goes up. 4. Are there significant risks associated with the value proposition? 
 
 
In the next article I will cover lesson 3b: Price metrics and valuations. It will be much shorter I promise but equally informative and we will cover topics such as price determination, impact of speculation, price manipulation, whales and their impact and the impact of bitcoin on the entire cryptocurrency ecosystem!
...
 
References:
1. Crypto-Currency Market Capitalizations, https://coinmarketcap.com/, Last Checked 30/01/2017 2. What is the value of all the Gold in the world? http://onlygold.com/Info/All-The-Gold-In-The-World.asp, Last Checked 30/01/2017. 3. ICONOMI Cryptocurrencies Index (ICNX) 21 December 2016 Rebalancing, https://medium.com/iconominet/iconomi-cryptocurrencies-index-icnx-21-december-2016-rebalancing-transformation-into-iconomi-8e31e48493ab#.sptgljv1c 4. ICNx trend chart, https://medium.com/iconominet/iconomi-cryptocurrencies-index-icnx-30-november-2016-monthly-rebalancing-update-3402866243d9#.kw7g4fqcd, Last updated 30th Nov 2017 5. Shadowcash (SDC) - The billion dollar baby!, https://medium.com/@paradox_/shadowcash-sdc-the-billion-dollar-baby-6b86f0660739#.ypz9yme5a, Last updated 16 August 2016. 
...
 
Further articles in this series:
 
"The intelligent investors guide to cryptocurrency"
 
Part 0 -
Part 1 -
Part 2 -
Part 3a -
Part 3b -
Part 4 -
Part 5 -
Part 6 -
Part 7a -
 
"The intelligent investors guide to Particl -"
 
 
Full disclosure/Disclaimer: At time of original writing I had long positions in Ethereum (ETH), Shadowcash (SDC), Iconomi (ICN), Augur (REP) and Digix (DGD). All the opinions expressed are my own. I cannot guarantee gains; losses are sustainable; do your own financial research and make your decisions responsibly. All prices and values given are as of time of first writing (Midday 30th-Dec-2016).
 
Second disclaimer: Please do not buy Shadowcash (SDC), the project has been abandoned by it's developers who have moved on to the Particl Project (PART) (www.particl.io). The PARTICL crowd fund and SDC 1:1 token swap completed April 15th. You can still exchange SDC for PART but only if it was acquired prior to 15th April 2017 see: https://particl.news/a-community-driven-initiative-e26724100c3a for more information.
 
Addendum: Article updated 23-11-2017 to edit references to SDC (changed to Particl where relevant to reflect updated status) and clean up formatting.
submitted by joskye to Particl [link] [comments]

History Lesson for new VIA Viacoin Investors

Viacoin is an open source cryptocurrency project, based on the Bitcoin blockchain. Publicly introduced on the crypto market in mid 2014, Viacoin integrates decentralized asset transaction on the blockchain, reaching speeds that have never seen before on cryptocurrencies. This Scrypt based, Proof of Work coin was created to try contrast Bitcoin’s structural problems, mainly the congested blockchain delays that inhibit microtransaction as this currency transitions from digital money to a gold-like, mean of solid value storage. Bitcoin Core developers Peter Todd and Btc have been working on this currency and ameliorated it until they was able to reach a lightning fast speed of 24 second per block. These incredible speeds are just one of the features that come with the implementation of Lightning Network, and and make Bitcoin slow transactions a thing of the past. To achieve such a dramatic improvement in performance, the developers modified Viacoin so that its OP_RETURN has been extended to 80 bytes, reducing tx and bloat sizes, overcoming multi signature hacks; the integration of ECDSA optimized C library allowed this coin to reach significant speedup for raw signature validation, making it perform up to 5 times better. This will mean easy adoption by merchants and vendors, which won’t have to worry anymore with long times between the payment and its approval. Todd role as Chief Scientist and Advisor has been proven the right choice for this coin, thanks to his focus on Tree Chains, a ground breaking feature that will fix the main problems revolving around Bitcoin, such as scalability issues and the troubles for the Viacoin miners to keep a reputation on the blockchain in a decentralized mining environment. Thanks to Todd’s expertise in sidechains, the future of this crypto currency will see the implementation of an alternative blockchain that is not linear. According to the developer, the chains are too unregulated when it comes to trying to establish a strong connection between the operations happening on one chain and what happens elsewhere. Merged mining, scalability and safety are at risk and tackling these problems is mandatory in order to create a new, disruptive crypto technology. Tree Chains are going to be the basis for a broader use and a series of protocols that are going to allow users and developers to use Viacoin’s blockchain not just to mine and store coins, but just like other new crypto currencies to allow the creation of secure, decentralized consensus systems living on the blockchain The commander role on this BIP9 compatible coin’s development team has now been taken by a programmer from the Netherlands called Romano, which has a great fan base in the cryptocurrency community thanks to his progressive views on the future of the world of cryptos. He’s in strong favor of SegWit, and considers soft forks on the chain not to be a problem but an opportunity: according to him it will provide an easy method to enable scripting upgrades and the implementation of other features that the market has been looking for, such as peer to peer layers for compact block relay. Segregation Witness allows increased capacity, ends transactions malleability, makes scripting upgradeable, and reduces UTXO set. Because of these reasons, Viacoin Core 0.13 is already SegWit ready and is awaiting for signaling.
Together with implementation of SegWit, Romano has recently been working on finalizing the implementation of merged mining, something that has never been done with altcoins. Merged mining allows users to mine more than one block chain at the same time, this means that every hash the miner does contributes to the total hash rate of all currencies, and as a result they are all more secure. This release pre-announcement resulted in a market spike, showing how interested the market is in the inclusion of these features in the coin core and blockchain. The developer has been introducing several of these features, ranging from a Hierarchical Deterministic key (HD key) generation that allows all Viacoin users to backup their wallets, to a compact block relay, which decreases block propagation times on the peer to peer network; this creates a healthier network and a better baseline relay security margin. Viacoin’s support for relative locktime allows users and miners to time-lock a transaction, this means that a new transaction will be prevented until a relative time change is achieved with a new OP code, OP_CHECKSEQUENCEVERITY, which allows the execution of a script based on the age of the amount that is being spent. Support for Child-Pays-For-Parent procedures in Viacoin has been successfully enabled, CPFP will alleviate the problem of transactions that stuck for a long period in the unconfirmed limbo, either because of network bottlenecks or lack of funds to pay the fee. Thanks to this method, an algorithm will selects transactions based on federate inclusive unconfirmed ancestor transaction; this means that a low fee transaction will be more likely to get picked up by miners if another transaction with an higher fee that speeds its output gets relayed. Several optimizations have been implemented in the blockchain to allow its scaling to proceed freely, ranging from pruning of the chain itsel to save disk space, to optimizing memory use thanks to mempool transaction filtering. UTXO cache has also been optimization, further allowing for significant faster transaction times. Anonymity of transaction has been ameliorated, thanks to increased TOR support by the development team. This feature will help keep this crypto currency secure and the identity of who works on it safe; this has been proven essential, especially considering how Viacoin’s future is right now focused on segwit and lightning network . Onion technology used in TOR has also been included in the routing of transactions, rapid payments and instant transaction on bi directional payment channels in total anonymity. Payments Viacoin’s anonymity is one of the main items of this year’s roadmap, and by the end of 2017 we’ll be able to see Viacoin’s latest secure payment technology, called Styx, implemented on its blockchain. This unlinkable anonymous atomic payment hub combines off-the-blockchain cryptographic computations, thanks to Viacoin’s scriptin functionalities, and makes use of security RSA assumptions, ROM and Elliptic Curve digital signature Algorithm; this will allow participants to make fast, anonymous transfer funds with zero knowledge contingent payment proof. Wallets already offer strong privacy, thanks to transactions being broadcasted once only; this increases anonymity, since it can’t be used to link IPs and TXs. In the future of this coin we’ll also see hardware wallets support reaching 100%, with Trezor and Nano ledger support. These small, key-chain devices connect to the user’s computer to store their private keys and sign transactions in a safe environment. Including Viacoin in these wallets is a smart move, because they are targeted towards people that are outside of hardcore cryptocurrency users circle and guarantees exposure to this currency. The more casual users hear of this coin, the faster they’re going to adopt it, being sure of it’s safety and reliability. In last October, Viacoin price has seen a strong decline, probably linked to one big online retailer building a decentralized crypto stock exchange based on the Counterparty protocol. As usual with crypto currencties, it’s easy to misunderstand the market fluctuations and assume that a temporary underperforming coin is a sign of lack of strength. The change in the development team certainly helped with Viacoin losing value, but by watching the coin graphs it’s easy to see how this momentary change in price is turning out to be just one of those gentle chart dips that precede a sky rocketing surge in price. Romano is working hard on features and focusing on their implementation, keeping his head low rather than pushing on strong marketing like other alt coins are doing. All this investment on ground breaking properties, most of which are unique to this coin, means that Viacoin is one of those well kept secret in the market. Minimal order books and lack of large investors offering liquidity also help keep this coin in a low-key position, something that is changing as support for larger books is growing. As soon as the market notices this coin and investments go up, we are going to see a rapid surge in the market price, around the 10000 mark by the beginning of January 2018 or late February. Instead of focusing on a public ICO like every altcoin, which means a sudden spike in price followed by inclusion on new exchanges that will dry up volume, this crypto coin is growing slowly under the radar while it’s being well tested and boxes on the roadmap get checked off, one after the other. Romano is constantly working on it and the community around this coin knows, such a strong pack of followers is a feature that no other alt currency has and it’s what will bring it back to the top of the coin market in the near future. His attitude towards miners that are opposed to SegWit is another strong feature to add to Viacoin, especially because of what he thinks of F2Pool and Bitmain’s politics towards soft forks. The Chinese mining groups seem scared that once alternative crypto coins switch to it they’re going to lose leveraging power for what concerns Bitcoin’s future and won’t be able to speculate on the mining and trading market as much as they have been doing in the past, especially for what concerns the marketing market.
It’s refreshing to see such dedication and releases being pushed at a constant manner, the only way to have structural changes in how crypto currencies work can only happen when the accent is put on development and not on just trying to convince the market. This strategy is less flashy and makes sure the road is ready for the inevitable increase in the userbase. It’s always difficult to forecast the future, especially when it concerns alternative coins when Bitcoin is raising so fast. A long term strategy suggestion would be to get around 1BTC worth of this cryptocoin as soon as possible and just hold on it: thanks to the features that are being rolled in as within 6 months there is going to be an easy gain to be made in the order of 5 to 10 times the initial investment. Using the recent market dip will make sure that the returns are maximized. What makes Viacoin an excellent opportunity right now is that the price is low and designed to rise fast, as its Lightning Network features become more mainstream. Lightning Network is secure, instant payment that aren’t going to be held back by confirmation bottlenecks, a blockchain capable to scale to the billions of transactions mark, extremely low fees that do not inhibit micropayments and cross-chain atomic swap that allow transaction across blockchain without the need of a third party custodians. These features mean that the future of this coin is going to be bright, and the the dip in price that started just a while ago is going to end soon as the market prepares for the first of August, when when the SegWit drama will affect all crypto markets. The overall trend of viacoin is bullish with a constant uptrend more media attention is expected , when news about the soft fork will spread beyond the inner circle of crypto aficionados and leak in the mainstream finance news networks. Solid coins like Viacoin, with a clear policy towards SegWit, will offer the guarantees that the market will be looking for in times of doubt. INVESTMENT REVIEW Investment Rating :- A+
https://medium.com/@VerthagOG/viacoin-investment-review-ca0982e979bd
submitted by alex61688 to viacoin [link] [comments]

Which crypto do you think will "moon" next?

I've never been into bitcoin or any other crypto in the past.
I've heard about it for years, how some people had bitcoins many years ago and suddenly found themselves rich, but I thought that ship had already sailed and I was late to the party.
Then mid-February, I heard about the Winklevoss bitcoin ETF. Billions if not trillions of Wall Street money was supposed to pour into bitcoin if it was approved, and bitcoin's market cap skyrocketing was supposed to boost it from 900 to 2500-3000, even supposedly up to 10,000.
Some backstory: I have a windfall. But it is only 10 years of annual expenses worth, not enough to retire on.
But I thought this was a golden opportunity. I threw in around a hundred thousand dollars into bitcoin, hoping that the ETF would get approved and it would push me into financial independence (FIRE status with 4% SWR), and I could retire.
During that time, I also read about Ethereum. It sounded promising... "programmable bitcoin", and Microsoft and some other big names were forming an alliance based on it. I thought it definitely had potential.
But I saw the price ($13) and looked at the charts, it seemed to have been at that price point for quite a long time, seems there was no need to rush. I'll join that party AFTER the ETF decision comes out. It couldn't change a lot within a week or two, right?
And March 11 came around, and the ETF was rejected. Annoying, but I was surprised how bitcoin's price didn't tank straight down to 800 like some were predicting. It actually kept rising. And I was being indoctrinated to the "HODL" mentality of /bitcoin, so I HODL'd.
Then I remembered about ETH, a few days later. Why not check on it, how is the price doing?
And... WTF! It had ballooned to 28. I could have more than DOUBLED my money D:
But I thought, this is TOO FAST, this has got to be a bubble... it's gotta pop soon, and waited.
And it rose straight to 45! More that TRIPLED! If I had invested in ETH instead a few weeks ago, I'd be RETIRED now! It seriously hurts.
And I jumped in ETH at 45... and now it's barely moving, looks like it's even dipping....
So now I'm looking at other crypto, what do you think has the potential to moon like ETH did recently?
Monero? Dash?
I was even looking at Golem... it seemed really cheap, but then 820 million in circulation? o_O And apparently, anyone can create these "Ethereum-based tokens"?
Learning a lot of cryptocoins is hard, I can only take in so much information... so I'd like to know, what coins do you think have REAL potential?
submitted by bit_LOL to CryptoCurrency [link] [comments]

Rumors Of The Demise Of The Blockchain Industry Have Been Greatly Exaggerated

Authored by Omid Malekan via Medium.com,
The sharp decline in the price of cryptocoins has spurred an outpouring of commentary from columnists and academics who - suspicious of the asset class all along - now feel vindicated. But their focus on falling prices this year is just as foolhardy as the evangelists focus on gains last year, and somewhat misses the point. The biggest blockchain headline of 2018 isn’t that prices have crashed, but that adoption has accelerated throughout the decline.

Among the entrepreneurs and developers building out the technology, there is a growing sense of satisfaction that an industry primarily known for its hypothetical promise is finally starting to deliver. If you can manage to look past sensational stories of “who lost how much in Bitcoin,” what you’ll find are far more interesting stories on adoption and implementation. Whereas 2017 was the year of whether, 2018 is going out as the year of when _and _how.This is an important shift, despite ongoing challenges. Blockchain is a foundational technology, so adoption isn’t just about new systems, but a re-architecting of how business is done. That’s no small task, as we were reminded recently when the parent of the New York Stock Exchange announced a delay in the launch of its physical-backed Bitcoin futures. Tempting as it might be to interpret that news as yet another setback in the midst of a bear market, it’s a startling reminder of how far things have come. Not that long ago, the idea of one of the worlds biggest financial companies adopting Bitcoin felt like a pipe dream. Today, we lament a short delay.
Once rolled out, those futures will be an important bridge between legacy financial markets and natively digital ones. This sort of infrastructure is vital to making good on the industry’s loftier promises, and encouragingly, where progress seems to have accelerated, as told by the people who would know. Konstantin Richter, the CEO of Blockdaemon, a leading blockchain infrastructure company, recently told me:
“We are seeing a strong increase in individual nodes getting deployed. Enterprise demand has increased also.”
That simple statement says a lot, because nodes to a blockchain are like servers to a network. That people and companies are deploying them could only mean they plan on using the technology.
Progress is accelerating on the “re-architecting how business is done” front too. According to Christiana Cacciapuoti, the executive director of Adledger, a non-profit building new standards for blockchain-based online advertising, the consortium now counts all of the big four ad agencies as members, something that wouldn’t have happened if there was no there there.
The same could be said of names like Walmart and Fidelity, both of which announced major blockchain-based initiatives this past summer. Many more seem to be watching, as expressed by Mike Dudas, founder of The Block, a leading blockchain news and intelligence service. When I asked him whether interest had declined with price, he said “despite the decline, corporate interest is accelerating, and we’ve seen significant professional uptake in our coverage.”
Perhaps the strongest vote of confidence came from Clarissa Horowitz, VP of Marketing at Bitgo, a leading cryptocoin custody tech and service provider. Bitgo announced a new qualified custodian service aimed at institutions just a few months ago, just as the price decline accelerated. Custody being a service only needed by those who deal with the actual coins, I wondered if demand had been tepid. Her response? “Interest has been off the charts.”
From my own vantage point, demand for my education service and sales of my book are as strong as ever. The critics hear all of this, but still obsess over falling prices. To be fair, so do some industry insiders. But if there’s one lesson everyone watching crypto markets should heed from traditional ones, it’s that price seldom matters as much as most people think.
Just in the past two months, shares of graphic hardware maker Nvidia have lost half of their value. Tellingly, no one is interpreting this to mean the end of the industry. Semiconductor stocks have always been volatile, and a volatile asset making big moves is not that revealing. Naysayers have tried to pin the collapse on falling demand from crypto miners, but that doesn’t explain why the stock surged 50% earlier this as the price of Bitcoin got cut in half.
So why did the stock collapse? For a myriad of complicated reasons, including the broader correction in tech stocks. That correction, by the way, has knocked a trillion dollars off the market cap of just five tech companies, more than the losses in all cryptocoins combined. But nobody is interpreting it to mean the end of smartphones or social media. Wild price swings are often more about marginal changes in sentiment than actual changes in output, a fact perhaps even more true for commodities.
The recent decline in oil prices for example, has little to do with supply and demand, as neither has changed much as prices have fallen. Drawing major conclusions from short-term price swings is tempting, but can be a trap. Ten years ago, a far bigger collapse in oil lead many to predict the end of the US shale boom. History proved them wrong, as American oil output today is triple what it was back then, with most of the gains having occurred in the teeth of the bear market. The decline in prices only drove drillers to become even more efficient at fracking. A decade later, that new way of drilling has really taken over, for the simple reason that it’s a better way of doing things.
Blockchain technology is also a better way of doing things. It’s core tenets of transparency, democracy and cooperation are universally considered desirable in almost any other context. So why do so many remain skeptical? One answer is jealousy from those who missed out on the boom, but there’s more to it. The bigger issue — haunting enthusiasts and skeptics alike — is the truly transformative nature of this technology.
If optimists such as myself are proven right, then we are about to undergo a major re-architecting of many aspects of society, toppling incumbent leaders and anointing new ones. Entrepreneurs worship the mighty god of disruption, but in its path lies the pain of the disrupted.
Just recently, the CEO of the celebrated startup Transferwise declared that his company saw no implementation of blockchain tech that made its online payment service faster or cheaper. His comments made the rounds given the backdrop of falling coin prices, but I took them to be rather bullish. If my overall thesis pans out, then the Transferwises of the world will never find a good use for blockchain, because the technology eliminates the need for them altogether. People can already exchange and send digital dollars all over the world using decentralized blockchain rails, for a fraction of even what Transferwise charges. The only drawback is that the front-end and user experience is not nearly as polished as those offered by a centralized payment service.
That problem will eventually be solved, because a shared global ledger is a better way of handling payments than the fragmented and siloed solutions of today, in the same way that a shared spreadsheet in the cloud is a better way of cooperating with colleagues than passing around a notebook. So to all those who continue to obsess about prices, I offer a simple reminder that what matters most are the opportunities that lie ahead, not the price declines that lay behind. This was true in the energy sector a decade ago, and even more true in the tech sector two decades ago.
Back then, during the aftermath of the dot com bust, the shares of a little online bookseller traded at a mere $6, having lost 95% of their value. Critics took the magnitude of that decline — even greater than the current crypto one — to mean that the promise of eommerce had been exaggerated. But Jeff Bezos and his team still believed that online shopping was a better way of doing things, so despite the raging bear market, they proceeded to significantly expand Amazon’s offering. History, and a subsequent 30,000% appreciation in the stock, proved them right. Sometimes, the biggest takeaway from a major price decline is the emergence of a great opportunity.
submitted by rotoreuters to zerohedge [link] [comments]

∆ Delta - The best Bitcoin, ICO & cryptocurrency portfolio tracker

∆ Delta - The best Bitcoin, ICO & cryptocurrency portfolio tracker
Delta is the ultimate Bitcoin & Cryptocurrency portfolio tracker app. Keep track of all cryptocoins, including Bitcoin, Ethereum, Litecoin and over 2000 Altcoins. Use the free app to get the latest coin prices and market charts in your local currency and get alerts to make success..
https://preview.redd.it/ttdfc02wp8j11.png?width=359&format=png&auto=webp&s=8b1190f7bb6024eae829ffa0ec21d74b97400a43
submitted by civilphotography to LABHCOIN [link] [comments]

On the flip side.... when it does collapse people will be saying the same thing

While I hope, based mostly on history, that this is just history repeating itself. The main difference between now and years gone by, is that in years gone by the coin market was not filled up with over hyped shit/scam coins that became over valued solely due to 1) Marketing and 2) People’s hearing about bitcoin and desperately trying to find the next bitcoin.
Previously I would discribe coins as techies who identified a problem and tried to solve it by developing a crypto, or forking one and adding/improving on it.
Nowadays it seems that the majority of new coins are launched by entrepreneurs, who hire a strong marketing and pr team first , with the role of dev team being given lease importance. Think about this the head of the new crypto now rarely has any clue about technology, isn’t a dev, and his focus is 99% of the time not solving a technical problem.
The problem he/she is trying to solve now is actually “how do I increase my bank account” there are opportunisties in this for people not associated with the coin. Example if you bought a million Tron at 0.002 and sold at 0.30 you’d have made a nice bit of money. But beyond getting in early and getting out at its earliest ATH, most of these coins are not worth holding. So basically it’s a whales market for most of these coins, if you want to make money from them. That’s not to shit on all none technie cryptocoin leaders. As all it takes is for one entrepreneur in the Steve Jobs mould who has an idea and vision and the ability to get the right people for each role and you have the potential for a crypto that takes off big time.
So sooner or later most ( maybe even all if old school people are right) of the coins will collapse and be worth zero. When that scenario occurs people will still be saying the same things “Buy at discounts” “getting rid of weak hands” “enjoying the crypto sales” “nothing that hasn’t happened before” “Look at the charts from 17, 16, 15, 14, 13, etc, this always happens wait until the end of the year”
I’m an optimist and hope for the best, but I know that the time will come when the previous yearly increases will come to a sudden stop. Instead of looking at the past to judge the present and predict the futute we should spend more time analysing what’s different between now and years gone by in the crypto world. By this i mean everything from coins, type of coin, technology changes, etc
Just food for thought in light of what appears to blind optimism by some which may influence others.
submitted by Tw4me to CryptoCurrency [link] [comments]

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Theres only one Crypto Currency Chart to worry about right now and its the Bitcoin Chart! With the massive sell off recently, Alt coins across the board are looking to BTCUSD for the signal of a ... #Bitcoin #BTC #litecoin #cryptocurrency #LTC #ETH #XRP litecoin, bitcoin, litecoin price prediction, bitcoin price prediction, ltc, btc, litecoin news, bitcoin news, hyperwave, trading bitcoin ... $11,700 AND THEN NEW ALL TIME HIGH FOR BITCOIN?!! 🚀🚀 Crypto TA Today & BTC Cryptocurrency Price News - Duration: 19:07. Crypto Kirby Trading 16,971 views 19:07 #Bitcoin #BTC #litecoin #cryptocurrency #LTC #ETH #XRP litecoin, bitcoin, litecoin price prediction, bitcoin price prediction, ltc, btc, litecoin news, bitcoin news, hyperwave, trading bitcoin ... Visit our website: https://altcoinbuzz.io Bitcoin tried to make a small rally today. Does that change the price prediction in the short term? How do you even...

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