Warning - Buying Bitcoin through TrustWallet - misleading ...
Warning - Buying Bitcoin through TrustWallet - misleading ...
Warren Buffett blasts bitcoin as worthless and vows he ...
Bitcoin is close to becoming worthless – MarketWatch ...
Berkshire's Charlie Munger: 'Bitcoin is worthless ...
Bitcoin is close to becoming worthless - MarketWatch
05-12 10:54 - '[quote] Thanks for actively downplaying the effect that mining these worthless scam coins is having on the environment just so you can make a quick buck scamming these idiots. / Asshole.' by /u/Flibbernachi removed from /r/Bitcoin within 179-189min
My daughter just informed me that someone told her "#Bitcoin is a worthless scheme" & that the US dollar has, quote, "one 'brick' of gold in a vault for every dollar there is."..There's so many things wrong with both of these statements that all I can do is sit here and facepalm
My daughter just informed me that someone told her "#Bitcoin is a worthless scheme" & that the US dollar has, quote, "one 'brick' of gold in a vault for every dollar there is."..There's so many things wrong with both of these statements that all I can do is sit here and facepalm
My daughter just informed me that someone told her "#Bitcoin is a worthless scheme" & that the US dollar has, quote, "one 'brick' of gold in a vault for every dollar there is."..There's so many things wrong with both of these statements that all I can do is sit here and facepalm
05-08 04:22 - '[quote] Implying that there's a 100% chance of the "worthless" chain being as worthless as you're anticipating. / Obviously if your assumption is that one chain will quickly die off then it is safe, but that's quite the assumpti...' by /u/stravant removed from /r/Bitcoin within 2-7min
I can also deal with a hard fork leaving a worthless chain that eventually will die off.
Implying that there's a 100% chance of the "worthless" chain being as worthless as you're anticipating. Obviously if your assumption is that one chain will quickly die off then it is safe, but that's quite the assumption to make. Even for Ethereum where there was pretty strong consensus, ETC is still worth about 10% of ETH, hardly worthless, and there's no guarantee things will even turn out that well. ''' Context Link Go1dfish undelete link unreddit undelete link Author: stravant
What effect would a digital dollar, Libra, or some government or fed backed crypto have on Bitcoin?
Can somewhat with more knowledge than me share insight into this? I'm assuming theres no exact science to know this, but is there knowledge out there on what would likely happen if some digital dollar, fed backed crypto, or even Facebook's Libra were to get big? Would it simply take Bitcoins market cap or would it actually be good for Bitcoin?
For Trading October 13th NASDAQ NAMES FLY NOT AS GOOD AS IT LOOKS Oh Goody, Earnings Season Today’s market was nice to see but if you don’t own the 7 or 8 big names it wasn’t anywhere near as good as it looked. The indexes closed up, but the spread was obvious with the DJIA +250.62 (.88%), NASDAQ +296.32 (2.56%), S&P 500 +57.09 (1.64%), the Russell +11.51 (.70%), and the Transports a dismal +18.49 (.16%). Volume was VERY light, and A/D was just 3:2 on both sides. DJIA was 23/7 up with AAPL the leader adding $49 DP’s, MSFT +37, CAT +25 and the biggest loser NKE -10 DP’s. My least favorite time of the quarter starts tomorrow with several of the banks leading the names to report Q2 earnings. As you all know, I try hard not to be involved in earnings plays since they are a coin-toss at best and you can have solid ideas on what will be reported, get it right, and if the “whisper number” was higher you get stuck in a down-draft of disappointment. Not for me! And the only groups showing weakness were energy and materials. Our “open forum” on Discord, which allows you to interact with subscribers and others to allow direct questions and chart opinions on just about any stock, continues to grow with more participants every day. It is informative and allows me to share insights as the market is open and moving. The link is: https://discord.gg/ATvC7YZ and I will be there and active from before the open and all day. It’s a great place to share ideas and gain some insights, and we’ve grown to almost 3000 members. I also returned to my radio show today with a great live interview with the Chief Medical Officer of JANONE (JAN) and it was a great show. This is the link to the audio recording including my discussion of the market and the very exciting story of JAN’s phenomenal NON-OPIOID Pain Med! This is the link: https://www.youtube.com/watch?v=oCFCxnijFO4 Enjoy!! Tonight’s closing comment video: https://youtu.be/3b6deMjWEvc SECTORS: There was good news for holders of the biggest names with AAPL, AMZN, GOOGL, and NVDA all moving between 4% – 7%. The biggest winner was AAPL +7.69 (6.57%). AMZN +172.35, GOOGL +57.54. Major gains for the biggest and the best. TWTR gained $2.45 (5.34%) on an upgrade by DB, TWLO $329.72 +23.48 on the news it was spending $3.2Billion on SEGMENT, and PEP $142.13 +3.69 (2.7%) on the Citi upgrade from neutral to buy. And a big name in the medical and drug business is gone... MNK closed $ .75, down from an all-time high of $133 on the filing (completely expected) of bankruptcy. I hope the RH traders don’t pile in to this worthless shell of a major company…DEAD And the big gainer of the day, over $5.00 was DDS $55.00 +12.92 (30.70%) on the news that one of Berkshire Hathaway’s advisors bought 5.9% of the stocks. And, the Disaster Du Jour of the day was Avenue Therapeutics (ATXI), with the FDA decision not to approve Tramadol, an opioid, in its present form. The stock was $5.24 -5.36 (50%) in premarket trading and then it only got worse. It finished the day $$4.53 -6.51 (59%)…OUCH..I hate when the stock looks like a 2:1 split all by itself ! New Group: AIR & CRUISE LINES were LOWER with CCL -.44, RCL -1.11, NCLH -.61, AAL -.27, DAL -11, LUV -.48, UAL -.79, HA -.44, ALK -.04, and XTN $61.68 -.15 (.25%). FOOD SUPPLY CHAIN was HIGHER with TSN +.99, BGS +.37, FLO +.27, CPB +.65, CAG +.69, MDLZ +1.49, CALM -.23, JJSF +.23, SAFM +3.94, HRL +1.14, SJM +1.24, PPC +.42, KR +.29, and PBJ $34.56 +.36 (1.05%). BIOPHARMA was HIGHER with BIIB +4.94, ABBV +.79, REGN -.52, ISRG +17.48, GILD +.67, MYL +.34, TEVA -.35, VRTX +4.65, BHC -.20, INCY +2.60, ICPT -2.76, LABU +.64 and IBB $143.92 +1.39 (.98%). CANNABIS: was HIGHER with the comment in last night’s debate that Kamala Harris that they would legalize pot. TLRY +.26, CGC +1.58, CRON +.19, GWPH +1.64, ACB .05, CURLF +.32, KERN +.30, and MJ $11.80 +.23 (1.99%). DEFENSE was HIGHER with LMT +3.10, GD +1.07, TXT +.11, NOC +1.31, BWXT +.96, TDY +2.39, RTX +.64, and ITA $164.84 +.59 (.36%). RETAIL: was MIXED with M +.02, JWN -.21, KSS -.18, DDS +12.92 (30.7%) see above, WMT +1.74, TGT +1.29, TJX -.22, RL -.25, UAA +.40, LULU +1.64, TPR +.38, CPRI +.27, and a new addition GPS -.45, and XRT $54.05 +.01 (.02%). MEGA-CAPS & FAANG were HIGHER with GOOGL +57.54, AMZN +171.85, AAPL +7.69, FB +11.60, NFLX +.36, NVDA 19.98, TSLA +8.94, BABA +7.51, BIDU +1.31, CMG -2.58, CRM +1.87, BA +.05, CAT +3.73, DIS +6.58, and XLK $123.83 +3.,65 (3.04%). PLEASE BE AWARE THAT THESE PRICES ARE LATE MARKET QUOTES AND DO NOT REPRESENT THE 4:00 CLOSES. FINANCIALS were HIGHER with GS +7.44, JPM +1.80, BAC +.19, MS +2.67, C +1.30, PNC +1.13, AIG +.51, TRV +.71, V -2.25, and XLF $25.59 +.36 (1.43%). OIL, $39.43 -1.17, Oil was near recent highs and sold off hard Friday touching $37.61 (down about 6%) before mounting a rally back to close +2.17. The stocks were LOWER with XLE $30.86 +.07 (.23%). GOLD $1,928.90 +2.70, opened HIGHER and made a slightly higher high and a higher low, closing near the highs of the day. There were several “unusual options action” looking for another 10-12% on the upside before year end. BITCOIN: closed $11630 +520. After breaking out over $10,000 we have had a “running correction” pushing prices toward $12,000, reaching a recovery high of $12220 Thursday, and after a day of rest in between, we resumed the rally touching $12,635, but have sold off back to support. We had 750 shares of GBTC and sold off 250 last week at $13.93 and still have 500 with a cost of $8.45. GBTC closed $12.67 +.90 today. Tomorrow is another day. CAM
Biblical End Time Events: The Truth Unfolded (A Super Conspiracy) Part 1
I run a web company. On our homepage we offer free quotes. On August 11, 2020, I received the following "free quote request":
Free Quote Request: This Google doc exposes how this scamdemic is part of a bigger plan to crush your business and keep it closed or semi-operational (with heavy rescritions) while big corporations remain open without consequences. This Covid lie has ruined many peoples lives and businesses and is all done on purpose to bring about the One World Order. It goes much deeper than this but the purpose of this doc is to expose the evil and wickedness that works in the background to ruin peoples lives. So feel free to share this message with friends and family. No need to reply to the email i provided above as its not registered. But this information will tell you everything you need to know. https://docs.google.com/document/d/1HOZcA9jQlS2ngj4cspGv-F4Bu-E84Rj2Vr-u__Nuw5w/edit
The following is the contents of the google doc broken up into 3 parts due to its massive length. Part 1Part 2Part 3 This is part 1/3:
Here is a quick synopsis of Bill Gates Vaccine/Microchip and the Mark of the Beast as mentioned in the bible
PROOF~THE NEW WORLD ORDER IS RISING. ACCEPT JESUS CHRIST TODAY! https://www.youtube.com/watch?v=BGHzSUEgx_E&list=PLm9W9PpTsiQp7pzG6cnmf4iByUo45suup&index A Military-Funded Biosensor Could Be the Future of Pandemic Detection https://www.defenseone.com/technology/2020/03/military-funded-biosensor-could-be-future-pandemic-detection/163497/ The final days. What REALLY happens when you take the Microchip? 2/12/2019 https://www.youtube.com/watch?v=39B4OPukuAQ&list=PLm9W9PpTsiQp7pzG6cnmf4iByUo45suup&index The Master Plan https://www.youtube.com/watch?v=1oaJpKkFTlI&list=PLm9W9PpTsiQp7pzG6cnmf4iByUo45suup&index ALERT! Pandemic is Planned! Bill Gates ID2020 Exposed! https://www.youtube.com/watch?v=-aR7cz30chE&list=PLm9W9PpTsiQp7pzG6cnmf4iByUo45suup&index This will give you the Total Understanding you need in this Hour! https://www.youtube.com/watch?v=F_UhcFqyKco&list=PLm9W9PpTsiQp7pzG6cnmf4iByUo45suup&index Microsoft submits a patent for the microchip. This is a legit patent site and a legit patent. You can't make this stuff up. WO2020060606 = World Order 2020 666 Publication Number WO/2020/060606 Publication Date 26.03.2020 Applicants MICROSOFT TECHNOLOGY LICENSING, LLC [US/US]; One Microsoft Way Redmond, Washington 98052-6399, US Microsoft patents cryptocurrency system using body data https://patentscope.wipo.int/search/en/detail.jsf?docId=WO2020060606&tab=PCTBIBLIO The connection between the vaccine, the microchip, and how they link to The Mark of the Beast Although you see information in regards to Bill Gates's vaccine as well as the microchip patent submitted by Microsoft recently, a conclusive parallel we can draw from both of these things is the microchip could very well be within the vaccine itself (within the syringe needle that is) as a single event or the vaccine and microchip will be administered in 2 different events (which i highly doubt given with what is currently going on). Either way, I ask those reading this document, to never take the vaccine/microchip whether these are administered at the same time or not, as they represent the Mark of the Beast. Essentially, the evil powers that be will push for a cashless society using this plandemic (eventually saying it's not safe to handle cash), and in doing so, if people want to continue to buy and sell, then they must take the vaccine/microchip to signify they are deemed "safe" enough to return back into society. Basically the microchip will act as your new digital wallet in which it will be used to buy and sell things. But before this happens the evil powers that be will purposely crash all currencies (to make them worthless; look at the biblical verse Ezekiel 7:19 below) so they can usher in their version of bitcoin type of cryptocurrency in conjunction with the microchip. Ezekiel 7:19 King James Version (KJV) 19 They shall cast their silver in the streets, and their gold shall be removed: their silver and their gold shall not be able to deliver them in the day of the wrath of the Lord: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity. During this time many people will be fooled into taking the Mark of the Beast because they will have trusted their governments, false teachers/prophets, and mainstream media without carefully reading what the bible has to say about the Mark of the Beast. Despite all this info, one thing is for sure, if you cannot buy or sell, or continue life normally as you used to unless you take the vaccine/microchip, then you will know this is the Mark of the Beast as mentioned in the Bible.
Bill Gates funds the ID2020 initiative in which they (globalist elite) want to track us using digital IDs which are very very wicked and satanic. This digital ID is part of the mark of the beast system. https://id2020.org/
All of what Bill Gates is doing is trying to get us to take the Vaccine/Microchip which is the mark of the beast as mentioned in the bible. If you Go to your KJV (King James Version) bible and read Revelation 13:16-18 you will understand the meaning behind all this. Revelation 13:16-18 King James Version (KJV) 16 And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: 17 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name. 18 Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.
If you take the Mark of the Beast, this is what happens
Revelation 14:9-11 King James Version (KJV) 9 And the third angel followed them, saying with a loud voice, If any man worship the beast and his image, and receive his mark in his forehead, or in his hand, 10 The same shall drink of the wine of the wrath of God, which is poured out without mixture into the cup of his indignation; and he shall be tormented with fire and brimstone in the presence of the holy angels, and in the presence of the Lamb: 11 And the smoke of their torment ascendeth up for ever and ever: and they have no rest day nor night, who worship the beast and his image, and whosoever receiveth the mark of his name.
If you refuse the Mark of the Beast, this is what happens
Revelation 20:4 King James Version (KJV) 4 And I saw thrones, and they sat upon them, and judgment was given unto them: and I saw the souls of them that were beheaded for the witness of Jesus, and for the word of God, and which had not worshipped the beast, neither his image, neither had received his mark upon their foreheads, or in their hands; and they lived and reigned with Christ a thousand years. All of what you see, the bible foretells us of what will happen and what is to come. The wicked elite planned all of this to happen. It was all planned by design. To usher in their one world order agenda using the virus as a scapegoat, to decimate world economies where people will lose their homes, businesses, and possessions. People will be starving during these times, and there will be chaos in the streets in due time. This is so the anti christ can rush in and save the day by getting you to take this evil vaccine/microchip/mark of the beast as the bible foretells us. That is why we are called unto repentance of our sins everyday and have faith in Jesus Christ who died on the cross for our sins, was buried, and rose again on the 3rd day. In times like these, we are called to pray because there will be massive destruction from both man and God in the last days. The tribulation will last 7 years and billions of people will die from this. Not only that, but there will be 21 judgments (7 seals, 7 vials, and 7 bowls) from God throughout the 7 years with which each judgement will be worse off than the last until the 2nd coming of Christ. These judgements are meant for people who did not repent of their sins (living in a constant sinful and ungodly lifestyle), and/or reject the word of God along with not having faith in Jesus Christ as their Lord and Saviour who died on the cross for ALL our sins, was buried, and rose again on the 3rd day. Because of what is happening around us, it will continue to get worse. They do this so people will be desperate enough to stop the pain. And the elites will present the vaccine/microchip/mark of the beast as the cure for the people's pain. But those that take the mark of the beast will live during the 7 years of tribulation until the 2nd coming of Christ in which Jesus Christ will come back to earth and kill those who took the mark of the beast and cast them to hell. During the 7 year tribulation, those that took the Mark of the Beast actually suffer from the 1st bowl judgement that is poured out. Here is that verse: **Revelation 16:1-2 King James Version (KJV)**16 And I heard a great voice out of the temple saying to the seven angels, Go your ways, and pour out the vials of the wrath of God upon the earth. 2 And the first went, and poured out his vial upon the earth; and there fell a noisome and grievous sore upon the men which had the mark of the beast, and upon them which worshipped his image. When you take the mark of the beast, it changes your DNA conforming yourself with the beast, which is satan. Once you take the mark of the beast, you will be damned to hell and eventually be casted into the lake of fire as the final destination place forever and there is no coming back. This information is not to be taken lightly. If you're interested to learn more of the evil and wickedness that is planned before us, here is a 500+ youtube playlist (and growing everyday) of all things relating to the end times as the bible describes. https://www.youtube.com/playlist?list=PLm9W9PpTsiQp7pzG6cnmf4iByUo45suup I encourage you to share this information with friends and family to help them understand the times we are living in. We are called to pray everyday in order to repent (turn away) from our sins and to have faith in Jesus Christ, who died on the cross for all our sins, was buried, and rose again on the 3rd day. It's important to repent daily because we sin on a daily basis whether we commit intentional sin or not. Also, pray daily because you are never promised a tomorrow. John 3:16-21 King James Version (KJV) 16For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life. 17For God sent not his Son into the world to condemn the world; but that the world through him might be saved. 18He that believeth on him is not condemned: but he that believeth not is condemned already, because he hath not believed in the name of the only begotten Son of God. 19And this is the condemnation, that light is come into the world, and men loved darkness rather than light, because their deeds were evil. 20For every one that doeth evil hateth the light, neither cometh to the light, lest his deeds should be reproved. 21But he that doeth truth cometh to the light, that his deeds may be made manifest, that they are wrought in God. John 14:6 King James Version (KJV) 6 Jesus saith unto him, I am the way, the truth, and the life: no man cometh unto the Father, but by me. 1 Corinthians 6:9-11 King James Version (KJV) 9 Know ye not that the unrighteous shall not inherit the kingdom of God? Be not deceived: neither fornicators, nor idolaters, nor adulterers, nor effeminate, nor abusers of themselves with mankind, 10 Nor thieves, nor covetous, nor drunkards, nor revilers, nor extortioners, shall inherit the kingdom of God. 11 And such were some of you: but ye are washed, but ye are sanctified, but ye are justified in the name of the Lord Jesus, and by the Spirit of our God. Revelation 21:8 King James Version (KJV) 8 But the fearful, and unbelieving, and the abominable, and murderers, and whoremongers, and sorcerers, and idolaters, and all liars, shall have their part in the lake which burneth with fire and brimstone: which is the second death. 1 Peter 5:6-8 King James Version (KJV) 6 Humble yourselves therefore under the mighty hand of God, that he may exalt you in due time: 7 Casting all your care upon him; for he careth for you. 8 Be sober, be vigilant; because your adversary the devil, as a roaring lion, walketh about, seeking whom he may devour: Matthew 6:24 King James Version (KJV) 24 No man can serve two masters: for either he will hate the one, and love the other; or else he will hold to the one, and despise the other. Ye cannot serve God and mammon. Revelation 3:16 King James Version (KJV) 16 So then because thou art lukewarm, and neither cold nor hot, I will spue thee out of my mouth. Matthew 7:21-23 King James Version (KJV) 21 Not every one that saith unto me, Lord, Lord, shall enter into the kingdom of heaven; but he that doeth the will of my Father which is in heaven. 22 Many will say to me in that day, Lord, Lord, have we not prophesied in thy name? and in thy name have cast out devils? and in thy name done many wonderful works? 23 And then will I profess unto them, I never knew you: depart from me, ye that work iniquity.
The Dangers of the Once Saved Always Saved Doctrine
Why so many professing Christians will be left behind! The dangers of OSAS! https://www.youtube.com/watch?v=3Wb_qb1XHNQ&list=PLm9W9PpTsiQp7pzG6cnmf4iByUo45suup&index Is Once Saved Always Saved Biblical? https://www.youtube.com/watch?v=3IMIHljWBSg&list=PLm9W9PpTsiQp7pzG6cnmf4iByUo45suup&index Is Once Saved Always Saved Biblical? (Different Youtube Channel) https://www.youtube.com/watch?v=EIXYRkTe7gc&list=PLm9W9PpTsiQp7pzG6cnmf4iByUo45suup&index Once Saved Always Saved? I went to the Outer Darkness (Hell) for unfaithful christians! https://www.youtube.com/watch?v=hOHHE4r0FGw&list=PLm9W9PpTsiQp7pzG6cnmf4iByUo45suup&index Although we are called to repent of our sins and have faith in Jesus Christ who died on the cross for all of our sins, biblical scripture also tells us that we must be born again, through water baptism, in order to enter into the kingdom of God. Here are some biblical verses that expand on that: John 3:3-5 King James Version (KJV) 3 Jesus answered and said unto him, Verily, verily, I say unto thee, Except a man be born again, he cannot see the kingdom of God. 4 Nicodemus saith unto him, How can a man be born when he is old? can he enter the second time into his mother's womb, and be born? 5 Jesus answered, Verily, verily, I say unto thee, Except a man be born of water and of the Spirit, he cannot enter into the kingdom of God. Matthew 28:19-20 King James Version (KJV) 19 Go ye therefore, and teach all nations, baptizing them in the name of the Father, and of the Son, and of the Holy Ghost: 20 Teaching them to observe all things whatsoever I have commanded you: and, lo, I am with you always, even unto the end of the world. Amen. If you would like to understand what is water baptism and why Christians do it, here is a video that helps explain it better:
You made it! :) First up, SORRY! This has been a late post, I have my reasons don't question them (if you must know I'll be posting in the discord - one time only haha). Secondly, I am sure you can agree with me when I say "Wow!" What an incredible week it has been. Last week I thought it was going to take a couple more weeks for more moving price action when it had only taken a few days which has seen Bitcoin reach and pass the $10,000 region. We have also seen the total Market cap for cryptocurrencies increase from about 280B to over 300B (308B at time of writing) within just a few days. A huge injection of liquidity, about 40B, into the market and just to name a few of the best rises in the top 20 (on Coinmarketcap.com), the price of ETH BTC ADA have given good performances/positive responses (With this I will start adding screenshots at the end of each week for timestamp purposes). This may be a combination from Binance, Mastercard, Paypal, Grayscale investments, VISA AND the DEFI sector. Let me explain... Last week we read about Binance integrating with the company Swipe (SXP) to issue there own debit card expanding the use and reach of cryptocurrency to 31 countries within Europe. Binance's Q2 scheduled token burn of $60.5 Million, this figure correlates with its exchange, margin and futures trading platforms where approximately 20% of profits get burned to increase the price of BNB token (careful as the price has been steady after the burn). This week we find out Mastercard's expansion into the Cryptosphere as they expand and integrate with the Wirex team to issue a Mastercard-backed Bitcoin debit card, thus further extending the reach of cryptocurrency availability internationally. "The cryptocurrency market continues to mature and Mastercard is driving it forward, creating safe and secure experiences for consumers and businesses in today’s digital economy " "...Our work with Wirex and the wider crypto ecosystem is accelerating innovation and empowering consumers with more choice in the way they pay" Mastercard is also reaching out to other emerging cryptocurrency firms to apply to become principal members [Partners] with Mastercard as they have relaxed their digital assets program and look to expand into the Digital Assets and Blockchain environment. Paypals expression of interest in cryptocurrency facilitiation may bear fruits as it is said Paypal has partnered up with stablecoin operator Paxos (who is already in partnership with Revolut in the US) to facilitate trading through a cryptocurrency brokerage which will enable other firms to integrate cryptocurrency trading functionalities with them. In my opinion this looks much more promising than the Libra association they pulled out from last October as regulations. Grayscale Investments clears regulatory hurdle as they have been given the green light for its Bitcoin Cash Trust (BCHG) and Litecoin Trust (LTCN) to be quoted in over-the-counter (OTC) markets by US Financial Industry Regulatory Authority (FINRA). “The Trusts are open-ended trusts sponsored by Grayscale and are intended to enable exposure to the price movement of the Trusts’ underlying assets through a traditional investment vehicle, avoiding the challenges of buying, storing, and safekeeping digital Bitcoin Cash or Litecoin directly.” More green lights for Cryptocurrency in the US as regulators allow banks to provide cryptocurrency custody services (which may go further than just custody services). A little bit strange as it seems unnecessary and undermines one of the key factors and uses of cryptocurrency which is to be in complete control of your own finances... On another outlook this may be bullish as it allows US banks to provide banking services directly to lawful cryptocurrency businesses and show support for Bitcoin. Visa shows support stating they have a roadmap for their further expansion into the Crypto sphere. Already working with Crypto platform Coinbase and Fold they have stated they recognise the role of digital assets in the future of money. To be frank, it appears to be focused on stable coins, cost effectiveness and transaction speeds. However they are expanding their support for crypto assets. AND MOST IMPORTANTLY, DeFI! Our very own growing section in crypto. Just like the 2017 ICO boom we are seeing exorbitant growth and FOMO into the Decentralised Finance sector (WBTC, Stablecoins, Yield farming, DEXs etc). The amount of active addresses on Ethereum has doubled but with the FOMO on their network have sky rocketed their fees! Large use-cases of stable coins such as USDT ($6B in circulation using ERC-20 standard), DAI, TUSD, and PAX. $114M Wrapped Bitcoin (WBTC) on their network acts as a fluid side chain for Bitcoin and DEX trade volume has touched $1.6B this month. With all this action happening on Ethereum I saw the 24HR volume surpass BTC briefly on Worldcoinindex.com In other news, Bitcoin has been set as a new precedent in a US federal court in a case against Larry Dean Harmon, the operator of an underground trading platform Helix. Bitcoin has now legally been ruled as a form of money. “After examination of the relevant statutes, case law, and other sources, the Court concludes that bitcoin is money under the MTA and that Helix, as described in the indictment, was an `unlicensed money transmitting business´ under applicable federal law.” Quick news in China/Asia as floods threaten miners and the most dominant ASIC Bitcoin mining rig manufacturer Bitmain loses 10,000 Antminers worth millions alledgedly goes missing or "illegally transfered" with ongoing leadership dispute between cofounders. Last but not least, Cardano (ADA) upgrade Shelley is ready to launch! Hardfork is initiated as final countdown clock is switched on. At time of writing the point of no return has been reached, stress tests done and confirmation Hardfork is coming 29/07 The Shelley Mainnet upgrade is a step toward fast, capable and decentralised crypto that can serve billions of people. With the Shelley Mainnet is ADA staking rewards and pools! Here is a chance for us Gravychainers to set up a small pool of our own. Small percentage of profits going into the development of the community, and you keep the rest! If you read all of my ramblings thanks heaps! I appreciate it! I have added an extra piece of reading called speculation. Most you can speculate on by just reading the headline some others have more depth to them. Another post next week for a weekly round up! Where do you think the market is going? What is in your portfolio? Let us know in the Gravychain Discord Channel See you soon!
🍕 Bring some virtual pizza to share 🍕 Come have a chat, stimulate a discussion, ask a question or share some knowledge. We are all friendly crypto enthusiasts up for a chat, supportive and want to help each other with knowledge and investments! Big thanks to our Telegram and My Crypto HQ for the constant news updates!
P.S. Dr Seuss collectables on the blockchain HECK YEAH! and Bitcoin enters NASCAR, remember when Doge did this? it was like when Doge was trending on TikTok. ... Oh yeah did I also mention Steve Wozniak is suing Youtube, Google over rampant Bitcoin scams. Wait, what? Sydney based law firm JPB Liberty is suing Google, Facebook and Twitter for up to $300B. Just another day in the Cryptosphere.
This will also go for Bitcoin, probably even to a bigger extent..
This is a quote from Egon von Greyerz: "Forget about what price the metals will reach. Even in today’s money, whatever figure you think of will not be enough. And in hyperinflationary money, the price move will be exponential measured in worthless paper money. So don’t think about the value of gold and silver in dollars or euros. Just remember that gold is the only money that has survived in history. It is therefore the best form of wealth preservation and insurance against a bankrupt financial system…" You can find a lot of interesting articles he wrote. He is telling about the value of gold and the instable financial situation for more than a decade. Unfortunately he never talks about Bitcoin and I have never been able to talk about it with him. It's hard to imagine he wouldn't be listening to the Bitcoin proposition if told about it.. I think he's one of the few who is openly talking about the risks of the current financial sysyem without going to the usual conspiracy theories. His company manages the wealth of a lot high wealth individuals. I think he's definitely correct about the future, but for some reason hasn't got Bitcoin on his radar. Probably because he plays the most safe cards. But what he tells about gold will also go for Bitcoin, with the big difference that gold is the absolute safe way to play and Bitcoin being the leveraged way. More leverage means more risks compensated by higher possible gains. HODL... strong..
BTC Noob, Learning and Intrigued by News - How can BTC be seized?
I'm interested in Bitcoin and more broadly cryptocurrency being used and accepted more widely. I have some general ideas and understanding about how some aspects of crypto works, but I saw a news story and hoped this sub can help fill some knowledge gaps. In short - News report/press release in the US, talking about charges against people for laundering money through bitcoin. https://www.justice.gov/opa/ptwo-chinese-nationals-charged-laundering-over-100-million-cryptocurrency-exchange-hack I'm sorry to see another news example of "look look crypto bad because criminals use it", but obviously that is a broader issue that needs addressing. I was very interested by the following quote though: "The civil forfeiture complaint specifically names 113 virtual currency accounts and addresses that were used by the defendants and unnamed co-conspirators to launder funds. The forfeiture complaint seeks to recover the funds, a portion of which has already been seized." My question (and pardon me if it shows my lack of understanding of some cryptocurrency fundamentals) is: how can it be seized? Certainly I appreciate that governments around the world are collaborating to stop money laundering, but I don't understand how it's possible from a "technical" perspective. If money is in account A, couldn't you just move it to account B before it was seized? When the government tries to seize it from B, wouldn't you move it to C? Cat and mouse, forever, no? Also, what actually happens? Does a government say "these wallets are ours now?" or "these wallets are no longer valid"? If you had crypto in a cold wallet, could it simply be "locked" or seized and rendered worthless? Tips for further reading, input, and feedback are greatly appreciated!
On non-mining nodes: Are devs seriously worried about a 100% hashrate attack?
I am confused by the position of some devs. It seemed like we were in agreement post-BTC fork, that Core greatly overestimated the value of non-mining nodes. They were hostile to miners and used poor thought experiments - based on a poor understanding of economics - to justify keeping the blocks at 1mb. But now, I'm starting to see the same arguments from BCH devs. It would be great to get some clarity on this issue. I'll give an example of the discussion I've had with some devs and why, I think, their argument fails. We'll start with a quote from u/Chris_Pacia:
"For the millionth time. Miners must sell their coins into the market to profit from mining. The fact that market participants fully validate their work means that miners can't pass off invalid coins or coins created out of thin air. Economic full nodes are a vital check and balance in the bitcoin system. "
So the ostensive concern is that miners might collude to create coins out of thin air, and non-mining nodes must keep them in check by validating their work. But this argument fails and is inconsistent. It's true that miners must sell their coins into the market to profit from mining. However, that's *the reason* why they are disincentivized to "pass off invalid coins". If the majority were to collude and create new coins, they would *destroy* the value of the coins. They might end up with more coins nominally, but those coins would be *on a hacked ledger* - i.e. they would retain a fraction of their previous value, or even become worthless. To this, u/tcrypt responded, "The value would only be destroyed if there are fully-validating non-mining nodes to detect and publicize the fraud." This also simply incorrect or entirely unrealistic. It assumes that *literally 100%* of miners would be in collusion. Anything less than 100%, and honest miners would indeed detect and publicize the fraud. Imagine, say, only 30% of the hashrate is honest. They see a block mined that creates a bunch of invalid coins. Because they are the minority, they get forked off the main chain. It's *completely unrealistic* to think that they wouldn't detect and publicize this. And furthermore, *even if* we had 100% collusion, which is completely unrealistic, their argument also assumes *literally zero* non-mining nodes on the network, which is also kind of ridiculous. Every exchange is going to run a node. They make enormous revenues and will have no problem whatsoever to pay for full nodes if the software becomes expensive to run. All it takes to demonstrate that miners can't get away with arbitrary inflation is less-than-100% collusion among them, and more-than-0 non-mining nodes. I don't understand where people disagree. So far, all I've seen is responses that imply "Well, that sounds like BSV, so it must be wrong!" which is neither compelling nor reassuring.
Oil with surcharge and gasoline at a loss. Why is it good for bitcoin.
Oil with surcharge and gasoline at a loss. Why is it good for bitcoin. Quotations of supply futures for raw materials of the WTI and Urals brands fell below $0, the price of Brent barrels started to fall too. What is the reason for this, when the situation normalizes and how will it affect the prospects of digital money. On Monday, April 20, an extraordinary event happened in the oil market: May WTI delivery futures dropped to -$40. This means that the manufacturer will pay the buyer if he can pick up the raw materials and partially unload the storage. This situation happened yesterday with another variety, the Russian Urals. Its price fell to -$2. Brent also suffered, maybe not so much, but over the past day its rate has fallen by 9%, to $23.77. As a result, wholesale prices for gasoline fell sharply below cost in Russia, and oil companies were forced to sell it at a loss. Now companies are losing about 2.3 thousand rubles per ton of AI-92. This situation was caused by a decrease in demand for fuel due to a drop in car traffic. The reaction of the ruble and bitcoin The ruble also reacted to a drop in oil prices. His quotes fell to two-week lows. In the evening of April 20, the dollar exchange rate was 75.27 rubles, the euro — 81.69 rubles, according to the Moscow Exchange. According to EXANTE Managing Partner Alexei Kirienko, a reversal in commodity prices has returned anxiety to financial markets. “Once again, the sensitivity of the ruble and other financial instruments to the dynamics of markets is growing — all of them risk switching to risk-off mode. This means selling everything, including gold and bitcoin, as well as increasing traction in the dollar. It is likely that the ruble, which now looks abnormally strong with the current negative dynamics of oil, may at some point fall into decline», the expert suggested. He explained that negative oil prices are associated with an extreme manifestation of its oversupply. It is likely that the Cushing oil storage facility where the supply is going is full. Those who bought oil have no opportunity to accept it. The decrease in value provoked a surge of margin calls, and many traders received losses, the specialist added. “No one could even imagine such a picture and did not put it into their models. However, there is a positive side to bitcoin in this story: now no one can say that it is worthless, because oil, for example, is already in the red”, concluded the specialist. Bitcoin crash risks Yesterday, amid the turmoil in the oil market, Bitcoin fell in price. Its price again fell below $7,000. Now the first cryptocurrency costs $6917, over the past day it has lost 4% of its value. The coin has been trading at these levels in the past few weeks, and its volatility has fallen to a three-month low. This usually speaks in favor of the onset of strong fluctuations. On Monday, analyst Omkar Godbowl predicted that the main digital coin could soon fall in price to a key support level of $6450. Another trader, Yashu Gola, also spoke about the fast strong movements on April 20. According to him, the asset risks falling to $6,500, and then to $5,000. The opposite opinion is shared by Nikita Zuborev, senior analyst at Bestchange.ru. He believes that now the first cryptocurrency is in a range convenient for buying, and there are no serious prerequisites for a further fall: while the traditional market is experiencing turbulence, cryptocurrencies are becoming more attractive to investors. “If we compare the trend with world indices and the price of oil, we will not see any significant matches. Moreover, if there was any dependence of the cryptocurrency market on the hydrocarbon futures market, we would see a sharp rise after the rollback of WTI oil prices this morning”, Zuborev says. According to him, in a crisis, you can see the trend for the sale of assets, including cryptocurrencies, but this does not mean the connection of digital money with world indices. The situation with oil will not affect Bitcoin in any way, a much more important factor today is halving, to which only three weeks remain, the analyst added. “The halving factor may negatively affect the price of bitcoin in the next few months before the shortage in the market becomes noticeable, but this will not be directly related to the trends of the traditional market”, the specialist noted. The relationship of bitcoin, stocks and oil Analyst of IAC “Alpari” Vladislav Antonov agreed with Zuborev. He also believes that at the moment the situation with oil does not affect the cryptocurrency market. However, digital money shows a very strong connection with the S&P500 index — the correlation is 0.8, the expert noted. “Falling oil prices will negatively affect the Russian economy. Brent is now trying to find a foothold after yesterday’s WTI collapse. Sellers know that they are strong, so they will aim at 1998 levels at $9.55”, the analyst suggested. Experts believe that at the moment there is no direct connection between the fall of oil and the decline in the value of cryptocurrencies. The situation with negative prices for WTI and Urals, on the contrary, could have a positive effect on the attitude of investors towards digital money. Even if their price drops significantly due to the crisis, as was the case in March, when BTC lost 50% of its value in two days, this will not affect the fundamental characteristics of the new type of asset. So, his future will remain promising, current prices will be profitable to buy.
Firstly, don't buy drugs on reddit (or even the clearnet). Secondly, CBD buds aren't legal.
2 things to get off my chest that eat at me most days I come to clear the modque. This is not a post to try and reinstate the rules, it is just some explaining. edit 1: Apologies for getting heated in the comments of this one, this post is the outlet for the festering rage that increases every time I read about someone being scammed or claiming CBD flower is legal. I'm normally pretty chill, I promise x edit 2: Adding some Q&A from the comments into the main body. Some of them I've included because they are good points that are a good idea to add, others are to stop others asking the same question. edit 3: you guys who previously thought CBD flower was legal, and have now changed your stance and agree with what I'm saying, you guys are the real MVPs. Whether you commented or not, you're the real homies fr.
Don't buy drugs on reddit, or on the clearnet.
On average, we hear of one person on this sub being scammed by another redditor (and sometimes a clearnet site) every 2 days. I'd hazard a guess and say most people don't message us about being scammed out of embarrassment (in hindsight). That's a lot of money being wasted, money that (given our average age) we really can't afford to just piss away. You know it genuinely makes us upset when we see someone scammed for a couple hundred quid. Not because it breaks the rules, not because the sub is at risk, but because someone has lost money they worked for and they are also encouraging the scammer to keep scamming. So, this is me saying just don't fucking do it. Business conducted without connection to the sub is irrelevant to us, and this post isn't to protect the sub or us. If someone is here vending through PMs there is a 99.99% chance they are a scammer. Imagine, right, you've got 10LBs of grass in 20 different strains in 3 different forms. You clearly have money through previous sales, and you're set to vend. Do you, a, frantically PM people through reddit asking you to buy through Wickr. Or, b, setup shop on a market and continue to build rep. Also, everyone who says they have a firrrrrrrre link (flame emoji x 10) who deals through Wickr you should message they are also a scammer. You will loose your money and your dignity. They will also have your address that you will more than likely be blackmailed with shortly after (which is also a common occurrence). Every person who's been scammed messages us the same way 'I know it's stupid and I know it was obvious they are a scammer but u/WorthlessPieceOfShit scammed me and here's proof.'. Hindsight is a bitch, so get some fuckin forsight and don't be a moron. Also, clearnet websites, don't even touch 'em. Instagram is like wading through a pool of shit to find a gold plated coin. Yeah the coin is there, but it is neither worth the trouble or time. It can be alluring to those who can't be arsed with learning to use the markets because of how easy it is, and then after the fact will justify why Instagram is better than any other alternative. Not only that, think of your OPSEC for gods sake. For those of you who struggle to keep your singular brain cell company who will still go on to piss money into the wind, if you contact us with proof that you have been scammed, there is no repercussion. Don't be afraid, we will only judge you in private ;).
Reddit Plug Comment Q&A
Q)So is there no way of finding a dealer on reddit? A) Wherever you look, you will always be able to find a source. If you attend your local female only 60+ chrrurch group for long enough you will find a lovely old lady who knows a guy who knows a guy who comes through. All I'm saying is that, as an amateur, you will miss the obvious warning signs of a scammer and with no way to verify legitimacy of a reddit plug (other than PGP) you will fall victim. I say amateur, because those who know what they are doing don't buy through a damn social media platform, unless they know them personally or have an exceptional circumstance. Q)So where do I find a plug online? You all talk of doing it but don't let up. or What market? A) Right, this isn't the place for this sort of question, and truth be told there isn't a reliable single outlet for it any more. However, the one and the only search term you need is DNM. With this single acronym, you have the full capacity to go out and research every single aspect of ordering safely online. Where to go, who to buy from, how to keep yourself safe. It's all out there and very easy to do/find. Like seriously. Just do the research, learn the shit, learn how to use bitcoin and tumblers, learn how to use PGP, learn it all (like we all had to) and you'll be up and running in no time. If you can't work it out, then you really should stick to street dealers. I don't say that patronisingly, I mean that if you can't work it out from there on your own, you will end up getting scammed or getting caught.
CBD Buds Are Illegal
Update: in another one of the usual shite and misleading responses to a petition our favourite home office shed some light on CBD products, too, and it's even more stupid than we thought:
In relation to industrial hemp, the Government has no intention of amending this policy. The Government operates a robust and risk-based licensing system to enable the cultivation of low THC cannabis (industrial hemp) from the non-controlled parts of the cannabis plant (i.e. seeds and fibre/mature stalk). Our policy enables the production of hemp fibre for industrial purposes or the obtaining of seeds which are then pressed for their oil. The cultivation of cannabis plants must be from approved seed types with a THC content not exceeding 0.2%. The ‘0.2%’ reference is used solely to identify varieties which may potentially be cultivated, within the scope of this policy. The current policy is in place to prevent misuse and diversion of the controlled parts of the cannabis plant, and currently, there is a large number of companies successfully operating under this industrial hemp policy. Home Office
To be honest this contradicts some of the laws quoted below, so it should be taken with a teaspoon of salt, but even so. End of update No, it isn't a grey area. NO, CLEAR don't always get it right. Yes, you can get nicked for it. Yes, it is illegal. Here is a link to the law in question. There are no 2 ways about it, CBD buds are not legal. Here is another supporting sheet, and whilst it is produced by the government, it doesn't serve as a legal document, moreso advice, so take that with a pinch of salt.
Home Office policy provides that licences may be issued for the cultivation of cannabis plants with a low tetrahydrocannabinol (THC) content for the production of hemp fibre for industrial purposes or the obtaining of seeds which are then pressed for their oil. For both of these uses, licences are granted to enable the use of non-controlled parts of the plant (i.e. seeds and fibre/ mature stalk only). This policy is only applicable where non-controlled parts of the plant are used. There needs to be a defined commercial end use and the Home Office only issues licences for cultivation of plants from approved seed types with a THC content not exceeding 0.2%. The ‘0.2%’ reference is used solely to identify varieties which may potentially be cultivated, within the scope of this policy, and to differentiate between the fee level is applicable under the Misuse of Drugs (Fees) Regulations 2010. The Hemp (Third Country Imports) Regulations 2002 also require, except in specified circumstances, that hemp from ‘third countries’ be imported under a licence an
Oil, tea, handbags and shampoo can be made from industrial hemp, and the plant that they were made from may contain low levels of THC and contain CBD as long as they are produced by licensed peoples. Flower, however, is not legal under any circumstance. Theoretically, completely THC and THC-V free flower would be un controlled (legal). But that is impossible by current standards, and doesn't exist (yet). Every CBD heavy plant has atleast trace THC(-V). The bulshit 0.2% rule that ill-informed people and love toting is nothing more than the number that allows a company to grow that plant under license, and for that plant to be grown for industrial use. Nothing else. Feel free to also brows 2001s misuse of drugs act in which you find nothing contradictory of the above. So please, for the love of god, stop hounding us and eachother over whether it is legal and why you think it is. If you can provide me with proof of the contrary, I'd love to see it, and would happily change my stance.
CBD Flower Isn't Legal Comment Q&A
Q)What do you make of this? Specifically "The law states products ‘derived from’ industrial hemp can be exempt from the MODA if they have been ‘processed’ and contain less than 1mg of THC or CBN." I always thought that was the loophole or grey area, that it is considered a processed hemp product by way of drying, curing and trimming, but I've not spent all that long looking into it and I'm not at all qualified to comment, I'm certainly not a legal professional. A) Interesting point, and an article I hadn’t seen before. Here is the government fact sheet they are referring to, in which it states: 'An “exempt product” means a preparation or other product consisting of one or more component parts, any of which contains a controlled drug, where— a) the preparation or other product is not designed for administration of the controlled drug to a human being or animal; b) the controlled drug in any component part is packaged in such a form, or in combination with other active or inert substances in such a manner, that it cannot be recovered by readily applicable means or in a yield which constitutes a risk to health c) no one component part of the product or preparation contains more than one milligram of the controlled drug or one microgram in the case of lysergide or any other N-alkyl derivative of lysergamide.' Do you mean to tell me that they prepare the CBD buds half a gram at a time? Not a chance. So that breaks rule b. So CBD if prepared in a quantity above half a gram (at any point if it was in contact with more than half a gram) , even if it is broken down into grams to sell). There will not be a single place that picks half a gram at a time, prepares it and then packages it in half gram quantities only. Thus, still illegal. And the products are advertised and meant for human consumption. So, still controlled under the laws i originally stated. Q)But it's legal under EU law, which we abide by, so that's where the grey area is isn't it? A) CBD flower isn't legal according to the EMCDDA, in fact they don't even distinguish it from high THC weed as far as legality. The only time Cannabis is Legal under EU law is if prescribed medically, be it THC or CBD strong. Even further, they only allow four brands of either to be prescribed: sativex, marinol, cesamet and bedrocan two of which are fuckin synthetic. Are you saying that the legality of regular weed is a grey area because is can be prescribed medically by the EU? No. Are you saying that because the EU allow it to be medically prescribed you can appeal in court? I should hope not. Further than that, the EMCDDA just set out the guidelines, i.e. if the country sees fit they can decide their own drug laws (such as in the case of CBD flower being legal in France and Italy, yet illegal in the UK). Source 1 , Source 2 straight from the horses mouth. Q)But it's sold in headshops, so it isn't your fault if you get caught is it? A) This just isn't true, I don't know how else to put it. Less you show me the 'if I didn't know it was illegal, it's not illegal law lol'. Just as a side note, why do you think Holland and Barret don't sell the flower, and only sell the oil eh? Cmon now use your noggin. Quite a few CBD shops have been raided too, so the fact that they exist isn't testament to legality in any way. If you're local corner shop sold ketamine in its sherbert packets, and you knew what you were buying, and it says ketamine on the reciept, you're still getting nicked for having ket on you regardless of whether you can produce a reciept to say you bought it at a shop. Just because the shop gets nicked, doesn't mean you don't.
Sorry For The Rant
Now that these two things are very clear, I can stop getting twisted over people getting scammed and just laugh as the information is here and clear, and I can link this post whenever CBD is being debated. The majority of you guys are sound, like really sound, and I know most of us would kick it if we met, so don't take it personally. Those who this is aimed at will know lol.
Rebalancing Crypto Portfolio: What is BAT, Brave, PAY & TenX?
Yeah, it’s another one of “those”. But honestly, after being in the game for long enough, you end up developing an eye for the good coins. Not the “good” ones, the GOOD ones. Believe it or not, research and common sense is the name of the game!
A little bit more about me: I come from a business & logistics management background. I started investing in cryptocurrencies and trading a little more than six months ago. As a person, I am very detail oriented and I’ve been researching all kinds of cryptos, for hours a day, for the past six months. The more I researched, the more I learned, the more I became hungry for knowledge, and therefore the more i researched. From trading to cryptocurrency basics, their economics, their political implications, the technology revolution they represent, the human psychology aspect as well as emotional trading behaviours (FOMO, FODO, etc.), all of it!
I’ve purchased Ethereum at 150$ (when I first started in crypto). Then NEO back when it was still AntShares and trading under 3$. Gas (Antcoin back then) at 30c, OMG when it was sub-1$, and ETP at exactly a dollar (selling it later at 5$). This was all before I even knew how to do a basic margin trade & was still in the process of learning about crypto (and while tether still had a “reasonable” market cap! LOL)
My approach is pretty simple when it comes to crypto. I split coins into seven main categories:
-Store of Value (BTC) -Payment (DASH, BCH, LTC) -Pure Anonymity and/or Evil Stuff (XMR) -Platform/platform’ish (ETH, NEO, LISK, CARDANO, ETP, Iota, Factom and the likes) -Shitcoins (99% of ERC20 tokens) -Absolute Shitcoins (Boolberry, Embercoin et al.) -Fee Split / Dividend Coins
That last category is my favorite. While I do strongly believe in diversification (10% store of value, 10% payment, 5% anonymity, 25% platform in my case), I always have a “lean” towards coins that make business sense. Coins that derive their value directly from the amount of usage the platform gets (Factom, for example). Coins such as NEO, BNB, Kucoin, Coss, ICN, TenX and the likes, basically coins that either have a direct “dividend-paying” property (NEO generating gas, Kucoin/Coss awarding holders with a % of the exchange’s trading fees) or an indirect “dividend paying” property such as BNB, ICN, TenX using quarterly profits to buy back their own coins and burn them, thus raising the value of the rest of the coins in circulation over time.
Now let’s look at market caps of these direct and indirect “dividend” coins.
Neo: 2.3B TenX: 246M Binance: 200M Iconomi: 155M Kucoin: 44M (68M at ath, not too long ago) Coss: 5M
You see that odd one there with only 5M market cap? Yeah. That’s the great buy right now. That’s the x10, x20 or even x30 that most people haven’t realized yet. That’s also the “dividend coin” you can scoop a ton of while it’s on the cheap, and make massive recurring revenue from as the exchange solidifies and evolves.
What is COSS? COSS stands for Crypto One Stop Solution. They’re a Singapore based cryptocurrency exchange with an amazing team that’s currently expanding. They aim at becoming the “One Stop” solution for crypto, meaning A) an exchange, B) a payment gateway for merchants to accept crypto payments, and probably sometime in the future C) crypto debit/credit cards. They offer their own coin (COSS coin), and holders of this coin receive 50% of the trading fees generated by the exchange (more on this later).
Now, what a lot of people still don’t realize in crypto, you don’t invest in the bigger market cap coins expecting to make a killing (“the moonshot”). Sure, they’ll bring you nice long term growth as the whole market matures, and that’s where you want to diversify and solidify your portfolio, solid coins with a purpose. But what if you want more thrill? An actual opportunity to “moon”? You find a project that makes business sense, that has at least a working product, and a good team. Buying NEO at 2.5B market cap? You missed the boat, it was a dollar a few months ago and already went x60 (“mooned”), and now stabilized at roughly x38. OMG had it’s x10-15 already. BNB as well. Their market caps are big, and a lot of buying needs to happen to even double in price.
Antshares (NEO) back then was a steal at 1, 2 and 3$. It was a huge risk, with huge rewards. They didn’t even have a product other than their blockchain. No dApp running or even being built on it, no english resources to even figure out how to code on it and deploy a smart contract, no marketing, hell we didn’t even know if Da Hongfei was still alive. All it was is a Chinese based smart contract platform, with an innovative dBFT concensus algorithm. It was a 100M market cap coin that early adopters believed in, and essentially invested in when it was not much more than a website and a blockchain. Look where it’s at now, with more than a dozen dApps being built on it, a solid team of roughly 10 devs, with the NEO council also funding City of Zion (team of 20+ NEO devs). NEO has grown into an incredible community, and is now launching coding dApp contests left and right, with the latest one in partnership with Microsoft china & offering half a million dollar’s worth in prizes.
NEO holders get rewarded with GAS on a daily basis. When NEO gets further adoption, all fees such as registering an asset, deploying a contract, changing an asset, etc. will be redistributed to NEO holders as well on a pro rated basis. Only transaction fees are not, as those will go out to MasterNodes. If you got yourself a thousand NEO’s back when they were a dollar or two a piece, you’re now generating 7 gas per month. That’s roughly 161$ USD per month, on a recurring basis, at current gas prices, out of a 1000$ investment. That’s a whopping 16.1% PER MONTH on original investment, and not even counting the fact that you pretty much made 37000$ profit on the NEO’s themselves. Today? Well, you gotta dish out 38000$ to buy a thousand neos and make 161$ per month, basically bringing you 0.4% per month on original investment.
Same with bitcoin. Early adopters that got it at pennies. It just hit $10K USD a piece. For every 30 cent spent purchasing bitcoin in 2009, you’d have $10K USD in the bank account. Invested 3$? 100K. Invested 30$? 1M.
Ethereum? From a dollar to half a grand now.
Moral of the story? Early adoption pays off. History repeats itself, and it will continue to do so. Bitcoin was digital money for nerds, ethereum was a cool project that nobody really gave a crap about until they got EEA which showed credibility (early adopters of eth had a great vision, I’ll give them that!). Neo was chinese vaporware. What do they all have in common? Their.Early. Adopters. Made. A. Killing.
Look where they stand now. Look where a lot of coins stand now. Even a lot of ERC20 tokens that don’t even really have a reason to exist have market caps over 100M. And for what? They don’t reward you with anything other than price increasing because more people buy (greater fool theory)? They don’t reward you with dividends from the project/platform itself? Their value isn’t derived directly from the amount of usage it gets (a la Factom, PaulSnow you genius.)? They still don’t even have a minimum viable product to show? When you ask yourself why does it need a coin, and the answer is either “uhh…” or “oh it grants you voting rights” (that nobody gives a crap about, let’s be honest), you should reconsider your investment strategy. Cause I can tell you a lot of people don’t know what the hell they’re doing, and they’d be better off diversifying in the top 5 or 10 coins and holding than investing in the shitcoinfest that crypto has become.
And that’s why COSS is a pretty buy right now. You’re investing in a platform that’s already up and running, not a whitepaper or vaporware. Hell even Eth and Neo were riskier investments for early adopters. Let’s go over the cons first:
It’s ugly. The UI sucks. It doesn’t have API’s yet, meaning there’s no bots to create liquidity, and therefore low volume. It’s been fudded to death by KuCoin shills (and their referral links you’ve seen everywhere a month ago). Charts are horrible
That’s about it. Whenever you read up about coss, those are the cons you’ll find. But what about the pros? Well, all of this is in the process of being fixed, as we speak.
Singapore has lax laws about cryptocurrencies and issued a statement it does not feel the need to regulate them. It’s securing exclusive ICO’s already despite being a tiny exchange, and has mentioned being able to secure from 4 to 6 per month. The team listens to the community’s feedback and takes it seriously. This is Gold. One of the first things they were criticized about was trying to do too many things at once (an exchange, a payment gateway, a full one-stop solution for crypto, etc.) and they’ve taken the community’s advice and decided to focus solely on the exchange for now and build it properly, before branching out to the rest. “Better excel at one thing and build from there, than be mediocre at multiple things at once” Also following community feedback, they are implementing trading promotions “a la Binance”. Part of the total supply of COSS tokens will be donated to charities (the community votes to who they go). First of all, that’s just plain nice. Secondly, I find it pretty damn cool that we donate this for good causes, and they basically keep “generating” income from it. It’s basically like a “perpetual donation” on behalf of COSS and all of its users, and definitely will make a lot of people feel good about using the exchange. Thirdly, this pretty much guarantees millions of COSS tokens are going to be in perpetual “HODL” mode, essentially taking them off the market. They will be implementing a FIAT gateway sooner than later. We all know FIAT gateways are game changers. They are constantly hiring. The team growing is definitely a good sign. They are revamping the overall UI and charts, once again following the community’s advice, and the proposed new look is fantastic! Check it out here, as well as other great announcements: https://medium.com/@runeevensen/coss-io-7379b7628d93EDIT: It has been brought to my attention that there is a UI upgrade scheduled for tomorrow (Dec. 3rd), although it isn't clear if it's a minor one or the actual major overhaul, might wanna keep an eye out on that! They are upgrading the matching engine and releasing API’s soon to allow bots to create liquidity and significantly raise the trading volume. Unlike KuCoin, the revenue split (COSS token holders) will always receive 50% of the fees, whereas kucoin will start decreasing it in 4-6months and it will bottom out at 10-15% The revenue split from trading fees is controlled by a DAO, meaning the COSS team cannot arbitrarily decide to change it later down the line, unlike KuCoin where the control over the fee split is centralized and they decrease it as they please. The DAO model also avoids it being labeled a security. First of all, those aren’t really “dividends” as dividends would require them to calculate income minus expenses to determine profit, and then distribute this profit to shareholders, and obviously that’s a legal nightmare. With the DAO model, you don’t get a percentage of the “profits”, you get a revenue split from the exchange fees, and it’s done by clicking a “distribute” button which makes a call to the smart contract and distributes your coins. COSS itself is not giving you anything COSS is still in Beta. It has a tiny market cap. Now’s the time to pick it up, not when it’s out of beta and has become successful, or you’ll be in another Antshares/NEO situation. A ridiculously small move from 5M to 50M in Mcap and that’s x10, a move from 5M to 150M (still under binance levels) and that’s x30. In the long run, COSS aims to be more than just an exchange. Holders of the token, who currently get 50% of the exchange’s trading fees, will also get 50% of other fees charged from coss. This includes their eventual payment gateway. Merchants around the world wishing to accept crypto payments will be able to use COSS’s gateway and COSS will charge a 0.75% fee per transaction. We, as COSS holders, also get 50% of that. You believe crypto is the future and going mainstream? Well your COSS will entitle you to the revenue generated by tens of thousands, if not hundreds of thousands of businesses accepting crypto payments via COSS Point-Of-Sale. COSS also mentioned that all other COSS “fee generating” products to come will all be subject to the same DAO/50% split. Logically, If they have 1) The trading platform, and 2) the payment gateway, then the third step is solving the problem of spending the crypto in places that don’t accept direct crypto payment, AKA a crypto credit/debit card. Well, guess what? Users of such cards will be charged a small fee as well when their crypto is being converted to fiat in real time for payment at a gas station. We as COSS holders are, again, getting 50% of that fee. As you can see, this is a coin that makes business sense to invest in. Unless you really, reaaaaaally care about a coin being the “Future of decentralized prediction markets” or “the future of decentralized dating” or the “decentralized gambling coin” and whatnot. Smart money is smart. It's only a matter of time before savvy investors discover this coin.
ALTHOUGH, keep in mind, the calculations above take into consideration an average trading fee of 0.2% and while this fee is accurate right now, it will most likely average 0.1% once API’s are released and liquidity/market maker bots start operating on the platform. Also, the calculations above do NOT take into consideration that in 4 years from now, there will be 200M (hard cap) COSS tokens on the market. HOWEVER, these calculations also do not take into consideration that by then, COSS will have a fully up and running payment gateway, crypto credit cards, and other revenue-generating products such as a crowdfunding platform, smart contract deployment platform, etc. that are also generating revenue for COSS holders.
All in all, if all goes as planned, the payment gateway/cards/other products will negate the additional COSS tokens released in the market as well as the average trading fee of 0.1%, and therefore the numbers presented in the excel docs will remain sensibly the same. Also, if crypto really takes off in the mainstream, then the revenue split to coss holders from the payment gateway & credit card spending could very well double, triple or quadruple all the numbers you’re seeing in these excel sheets, and that’s on the low end. Remember, the exchange only charges 0.2% (0.1% average once we have bots) out of which we get half, but the payment gateway on the other hand charges a flat 0.75% (7.5x the what the exchange’s fee), out of which COSS holders get half. This could be a massive revenue driver, easily surpassing the exchange itself, and honestly if at that point in time this coin is NOT valued at 3B+ (I mean, even ethereum classic is over that right now..), then I’ll just give up on the whole notion of logical thinking.
Quick example, assuming in 4 years 50M in gateway processing daily (18B yearly), 0.375% of that would be 187.5K USD daily for COSS holders. With 200M Coss tokens total supply, if you hold 10K coss you’d generate 9.375$ per day (65$ per week, 282$/mo.), and that’s purely from the gateway (totally excluding the exchange revenue, crowdfunding revenue, credit card revenue, etc.).
If you have 100K coss you’d generate 93.7$/day, 650$/week, 2820$/mo, again purely from the gateway.
If you’d rather assume more conservative figures (let’s say 25M in daily gateway processing on COSS, all around the globe, or 9B yearly), then simply divide these figures by half. If you wanna go balls to the walls, double them (100M daily, 36B yearly). Play around, have fun with the numbers! To keep things in perspective, square has processed 50B’s worth of transactions in 2016. Therefore I believe using 9B, 18B and 36B for our calculations isn’t too far fetched, and actually pretty reasonable.
Anyway, to sum this up, no matter how you look at it, COSS is an extremely promising project with huge potential, and actually has working math (and a working beta!) behind it. It’s only a matter of a month or two before they’re out of their Beta, have upgrades to their UI and engine, and start really growing from there. The team listens to the community, which is super important, and they’re working on a multitude of revenue streams, out of which not only them, but all coss holders will benefit from, fifty fifty.
Their crowdfunding platform will be a competitor to indiegogo, gofundme, kickstarter, and they’ll have a small percentage fee (50% of which goes to COSS holders). The crypto Point-Of-Sale will be a competitor to Square and the likes (50% revenue to COSS holders). The crypto credit card (also 50% revenue to COSS holders). It is truely an admirable project. Shovel manufacturers made a killing during the gold rush, and COSS is positioning itself as the shovel manufacturer in the crypto adoption gold rush. This is a coin that makes sense to invest in, it is ultra tangible, and will give greater returns than any type of “decentralized [insert function here]” type coins.
On a personal note: Honestly, I believe this is the proper way to ICO, by NOT giving people worthless tokens that only go up in value due to speculation (looking at you, 99% of ERC20 tokens). Let investors guide you, let them reap 50% of the rewards as THEY are the ones funding you. This’ll keep the investors interested in the project, and every single one of them will have a direct incentive to vouch for your product. It’s only right for the investors to get rewarded with something tangible, I’d take that any day over a speculative shitcoin who’s only purpose was to put money in the project’s founders pockets
Quoted directly from said link:“For those that are most interested in discussions regarding the trading price of COSS. Please have in mind that when we entered our token sale, our clear sales message was a 3–5 year road-map, and not a 3–5 months pump and dump. We are a small team, doing our utmost to deliver and all we ask is for you to continue to give us feedback and also for you to give us some time to deliver. *That being said. We still aim to be out of BETA as soon as possible with a new engine for the exchange in Q1 2018. New UI should be in place well before that.** Once we feel we have this in place we will roll out massive marketing campaigns to attract users and increased volume. So although we have a 3–5 year road-map ahead, you should expect to see 2018 being “our year”. The 3–5 year plan is more on the complete roadmap when we proudly can call ourselves a one-stop solution. For now it is all about the exchange, and there we will see rapid changes over the coming weeks/months.”*
All in all, i’d like to thank the COSS team for actually caring about their investors, keeping them in the loop, listening to their feedback and giving them a unique and tangible opportunity. I’d also like to thank all the other COSS investors, who see a huge potential in this project and support the team, and lastly, all of you crypto-heads for reading through!
Happy hodling, and hopefully see you all at 500M+ market cap by late 2018 :)
-Some random guy on Reddit.
PS: Not investment advice. Always do your due diligence. Also, if you’d like, you can join the discussion at /cossIO
Friendly reminder: ETH is the quickest way to get your funds on the COSS exchange, and COSS/ETH pair has 4x the volume of the COSS/BTC pair.
NEO's SITUATION EXPLANATION FOR NEW INVESTORS. READ AND DON'T ASK THE SAME QUESTIONS OVER AGAIN.
I created this post as I cannot answer everybody via private message. The whole stir that you can observe for the last 24 hours was caused by misinformation of RedPulse Token being banned in China. Nothing could be further from the truth, as no government intervention was carried out. It was the developers who decided to secure themselves and the business long-term, as the new regulations won't be ready before 10th of September. Transparency, legal cooperation, government certificates and permits are at the core of the Smart Economy. It must be this way if you want to see the mass adoption of smart contracts in any country. Let me quote the Red Pulse's white paper and Da Hongfei's words: "Developers of Bitcoin and Ethereum have highlighted anonymity as one of their platforms’ main features. However, this comes with an inherent disadvantage, which is the integrity of transactions. NEO addresses this by adding digital identity to its capabilities. With its origins in China, observers believe that this particular feature is beneficial in wider adoption of the technology in the country. Moreover, NEO is said to have the support of regulatory agencies and the business community in general. Beyond China, the main potential is in how NEO can better integrate with real-world applications, particularly those that require confirmation of identity, such as smart contracts. “NEO aims to integrate itself better with the real economy. Only with the introduction of digital identity can we map offchain assets in a complaint manner" "Cryptocurrencies have been viewed as operating in a regulatory grey area in China. Recent developments are promising however. The People’s Bank of China (PBoC), China’s central bank as well as financial regulator, has been actively engaged in the blockchain and cryptocurrency space since 2014. PBoC also launched its own fintech committee in May 2017 to study the impact of cryptocurrency on monetary policies, financial stability, settlement and clearing, among others. In July 2017, a consortium of six Chinese blockchain institutes jointly released a document titled “Guiyang Initial Coin Offering (ICO) Consensus” in Guiyang city . The document outlines a plan to self-regulate initial coin offerings in China and prevent the outbreak of systemic financial risks. The proposal includes a pre-approval system for ICO applicants, clear investor requirements, and marketing and publicity rules. Red Pulse intends to comply with these directives, as appropriate and within our capabilities." Summing up. The whole situation is used to shake off the weak hands and stocking up cheap coins before the First ICO is released. All people that invested in Antshares definitely realized the goverment cooperation, they understood Chinese market potential and difficulties. Furthermore, that was the main reason they invested. You already have the pioneering smart contract network- Ethereum. What differentiates ether from neo and onchain is the business plan to implement it in the real world economies. While ethereum foundation ran away from responsibility to Switzerland, the guys on NEO and Onchain are legally operating at the biggest, fastest growing, and over-regulated market in the world. Kudos to them. Everone who knows at least a bit about China would understand that the Ethereum Foundation, having hundreds of ICOs (Dog Coins, Useless Ethereum Coin and dozens of other ponzi schemes) that are totally unregulated, does not stand a chance on Chinese market. Last, but not least. I do not advise anyone to invest in anything, just wanted to clarify some things so you can see the whole picture. Please remember that buying technological coins like NEO, you invest in technology. But the best technology can be worthless without mass market adoption. And this means fulfilling the plethora of legal restrictions, regulations and certificates. Looking at the ICOs history on ether smart contract network, or bitprotocol scam copies, one may be thankful for Onchain and NEO devs. Finally, we have the right, humble, hard working people at the right place, who understand the current limitations of blockchain. Disclaimer: I'm an early investor in NEO network, so the opinion might be biased. If you disagree with my logic, do not invest your money. Especially more than you are ready to lose. People ask me in private messages who I am and what I do for a living and if I have experience with crypto. Well, I'm unemployed, no-experience teenager wanting to pump the coin. No, wait. I'm a billionaire in store of value in BTC who invested in 2011 and just getting bored during summer in Taipei to give some advise out of good heart I have. Oh wait, I'm a... I think since you cannot verify anything about people writing on reddit under their nicks, use your own logic. Critical thinking and cold analysis never hurts. Especially in the era of investors looking for information from YouTube gurus, who started investing on the market 6 months ago, and posting moon prices on their videos. Be smarter. Best Regards.
Incredible lies about Dash PrivateSend | A Refutation
Users u/TrustlessMoney & u/laminatedjesus had a comment exchange you can see here (abbreviated version due to length, check the full version if you're so inclined) To make it short: From my perspective u/laminatedjesus lost the argument evidenced by him running to Monero reposting the last comment from u/TrustlessMoney hoping to get some ammo to fire back. This is the resulting thread I am going to reply to this comment in particluar and will debunk it almost word for word (backup copy here). When I read it the first time it felt like the amount of falsehoods in it exceeded the amount of words used. That's why I decided to dedicate a thread to it. Please note that I have posted a large collection of refutations, corrections and debunkings from other authors and myself in the local wiki so if you're confronted with other lies, chances are good you'll find something useful in there, as trolls aren't very creative and regurgitate long debunked nonsense 99% of the time. Alright, enough of that, let's get to the meat of it: I am assuming you have read the full comment or have it in front of you.
Dash private send is basically a stupid mixing service
but as soon as you spend them you need to redo the whole thing again (to unlink your coins again)
100% false and embarrassingly so due to fundamental ignorance on how PrivateSend works. You don't need to "redo the whole thing again". After mixing you have another balance known as the PrivateSend balance in your wallet. You can spend from that until it's depleted. Theoretically you could mix your entire Dash wealth (which you'd do only once) and spend it over the course of your life without having to mix ever again.
You need to trust a handful of masternodes and their providers
Again false. Double-false even:
4700 is not "a handful" of Masternodes. Moreover it's more than 3 times the nodes Monero has, so trying to belittle one of the strongest full node infrastructures in the entire crypto-space is quite pathetic.
Not nearly as cumbersome as Monero's privacy with oversized transactions, complete unscalability, lack of solid infrastructure and a blockchain so big that nobody wants to run a sync for a full node, so the majority of users are forced to use a centralized web-wallet service where the admin, fluffypony, can see everyone's transactions. How's that for cumbersome? More like downright dangerous if you ask me. Contrast that to: Mix once in your own ultra-fast syncing wallet, spend & confirm instantly. So "cumbersome"!
As there are not enough people using the feature to mix with you
There haven't been liquidity providers in Dash for at least a year, probably much longer.
that you need to trust as well.
100% false and again ignorance on how PrivateSend works. A mixing party has zero insight on who they are mixing with/who the other parties are and even if they did: all information would be worthless with the next round of mixing, since they have no control over who they mix with. The network decides that randomly and unpredictably thanks to the entropy Proof of Work is providing us. But again: There are no liquidity providers anymore as independent mixing has been working well enough for quite a while now.
Unless you keep your wallets separate (exactly as with Bitcoin) anyone receiving funds from you can find out how much you own.
This is so false it makes your head spin. The PrivateSend balance in your wallet consists of hundreds, sometimes thousands of mixed inputs sitting each on newly generated addresses split into PrivateSend denominations that are indistinguishable from any other person's cloud of denominations. If you send someone a certain amount from your balance the wallet takes the appropriate denominations and "stitches together" the amount you wanna send. The recipient receives a load of identical inputs with no earthly way of knowing which wallet these coins originated from. You don't have to keep anything separate as your wallet does that for you anyway. Why wouldn't it?! Btw: PrivateSend is going to be supported by Dash mobile wallets as well.
Without even diving in the technicalities
I guess you should have. I did (a little) and I have shown that Monero cannot scale and is deeply vulnerable in its privacy scheme. The fact that a fork of the project is enough to have users expose themselves should make any privacy minded person shudder.
anyone just using it once and being private from the get go
By "get go" you mean after waiting a week or two until the local client synced by downloading the oversized blockchain from 1500 Raspberry Pis or the moment you've created an account at MyMonero.com where at least one person knows your account balance and your tx history?
Still syncing, please stand by...
without standing out
Until the entire blockchain is exposed by cracking its single layer of encryption.
will immediately grasp what fungibility means and will have a hard time going back to any weak Bitcoin+whatever_crap_layer like Dash is.
EDIT: if confused with what a quote is, or how it works, or what it means, refer to the time I shared this quote here, since it was understood perfectly then ~~~~~~
As a thought experiment, imagine there was a base metal as scarce as gold but with the following properties: - boring grey in colour - not a good conductor of electricity - not particularly strong, but not ductile or easily malleable either - not useful for any practical or ornamental purpose and one special, magical property: - can be transported over a communications channel If you redact "over a communications channel" you end up with depleted uranium...
In the early days, Bitcoin was a radical new experiment in money. It was global, anonymous, and with its goal to dethrone fiat currency and central banker hegemony, it was utterly audacious. From day one, Bitcoin was directly at odds with the agenda of central bankers, who wanted total control over the money supply, and an end to all cash. Bitcoin was the epitome of audacity. Then, dark markets made Bitcoin sinister. Governments scrambled to put a lid on illicit commerce and capital flight denominated in bitcoin. Bitcoin became notorious for thumbing its nose at the authorities in increasingly amusing ways. In sum, Bitcoin's audacity and notoriety launched it from a worthless toy to stardom. Today, we must set out to do the same for Decred. Recall it was the world's most disenfranchised persons who quote "invested" in Bitcoin first; of course back then, it wasn't really investing so much as it was financial martyrdom. VCs weren't even an afterthought. When thinking about audacity and notoriety, we must ask who/what/when/where/why.
Who are the most disenfranchised members of society?
What will get you banned on Twitter? What is too taboo to even discuss publicly, yet is top of mind for tens of millions of people?
When will the tipping point be reached?
Where in the world is this issue most publicly visible in terms of media leverage?
Why is this issue important?
Audacity and notoriety was Bitcoin's foot in the door, as it must be for us at Decred. In cryptocurrency, this is what it means to "pay the cost to be the boss".
Core/Blockstream are now in the Kübler-Ross "Bargaining" phase - talking about "compromise". Sorry, but markets don't do "compromise". Markets do COMPETITION. Markets do winner-takes-all. The whitepaper doesn't talk about "compromise" - it says that 51% of the hashpower determines WHAT IS BITCOIN.
They've finally entered the Kübler-Ross "bargaining" phase - now they're begging for some kind of "compromise". But actually, markets aren't about compromise. Markets are about competition. Markets are about winner-takes-all. And the Bitcoin whitepaper never mentions anything about "compromise". It simply says that 51% of the hashpower determines what is Bitcoin. And as we know - the best coin will win. Which will probably be Bitcoin Unlimited with its market-based blocksizes - and not SegWit with its 1.7MB centrally planned blocksize based on a dangerous anyone-can-spend spaghetti-code soft-fork. Let's review how this played out:
Core/Blockstream accepted $76 million in "fantasy fiat" from the "legacy ledger" of central bankers via their buddies at AXA.
And Core/Blockstream accepted censorship on the sad subreddit of r\bitcoin.
And lo and behold, Core/Blockstream's reliance on fiat funding and central planning and censorship has culminated in this pathetic piece of shit called SegWit, with the following worthless "features" that nobody even wants:
Yet-another centrally-planned 1.7MB maybe-someday blocksize - combined with some random arbitrary 1-to-4 "discount" that nobody asked for,
Fixes for low-priority non-problems like malleability and quadratic hashing,
By listening to real people in the actual market, and by following Satoshi's principles as stated in the whitepaper, Bitcoin Unlimited has been able to (surprise! surprise!) offer what real people in the actual market actually want - which is currently:
FlexTrans is much better than SegWit Also, these independent, non-fiat-financed devs developed Flexible Transactions, which is way better than SegWit. Flexible Transactions can easily fix malleability and quadratic hashing - while also introducing a simple, easy-to-use, future-proof tag-based format similar to JSON or HTML permitting future upgrades without the need for a hard fork. So Flexible Transactions provides the same things as SegWit - without the dangerous mess of SegWit's "anyone-can-spend" soft-fork hack - which Core/Blockstream tried to force on everyone - because they want to take away our right to vote via a hard fork - because they know that if we actually had a hard fork a/k/a full node referendum, everyone would vote against Core/Blockstream. The market wants to decide the blocksize So more and more of the smart, non-Blockstream-aligned miners, starting with ViaBTC and now including many others, have been adopting Bitcoin Unlimited - because they understand that:
Market-based blocksizes are the right, consensus-based mechanism to provide simple and safe on-chain scaling to solve the urgent problems of transaction delays and network congestion - now and in the future
Every increase in the blocksize roughly corresponds to the same increase squared in terms of price
ie 2x bigger blocks will lead to 4x higher price, 3x bigger blocks will correspond with 9x higher price, etc. - which means that bigger blocks will make everyone happy: more profits for miners, and no more high fees or transaction delays for users.
Now Core/Blockstream are starting to bitch and moan and beg about "compromise" And actually, we couldn't answer "Sorry it's too late for compromise" even if we wanted to. Because markets and economics and cryptocurrencies aren't about compromises. Markets are about competition - they're about winner-takes-all. Nakamoto Consensus is about 51% of the hashpower decides what the rules are. Imagine if Yahoo Email were to suddenly start begging with Google Mail for "compromise". What would that even mean in the first place?? Yahoo wrote crappy email code - based on their crappy corporate culture - so the market abandoned their crappy (and buggy and insecure) email service. Core/Blockstream is similar in some ways to Yahoo. They wrote crappy code - because they have a crappy "corporate culture" - because they accept millions of dollars in fiat from central bankers at places like AXA - and because they accept censorship on shit-forums like r\bitcoin - which is why they have no clue about the real needs of real people in the real market in the real world. Censorship and fiat made Core/Blockstream fragile and out-of-touch Core/Blockstream devs enjoy the "luxury" of being able to put their head in the sand and hide from the reality of the "shreaking" masses of actual people actually trying to use Bitcoin, because:
They get millions of dollars in fiat shoveled to them by central bankers,
They conduct their "debates" in the fantasy-land of the shit-forum r\bitcoin where all the important comments get deleted and all the intelligent posters got banned long ago - including quotes from Satoshi.
And then (surprise! surprise!) the following happened:
At any moment now, at the Schelling point of our own choosing, more hashpower can also "dump Core" and start using Bitcoin Unlimited - which is why everyone involved with Core/Blockstream is now shitting in their pants.
But in a decentralized, permissionless, open-source system like Bitcoin, there is not a single thing that CEO Adam Back u/adam3us and CTO Greg Maxwell u/nullc at their shitty little AXA-funded startup Blockstream or u/theymos and u/bashco on their shitty little censored forum r\bitcoin can do to stop Bitcoin Unlimited from taking over the network - because in open-source and in economics and in markets, the best code and the best cryptocurrency wins. Everyone (except Core/Blockstream) predicted this would happen So now - predictably - the Core/Blockstream devs and their low-information supporters are all running around saying "Nobody could have predicted this!" But actually everyone has been shouting at the top of their lungs predicting this for years - including the most important old-time Bitcoin devs supporting on-chain scaling like Mike Hearn, Gavin Andresen and Jeff Garzik who were all "censored, hounded, DDoS'd, attacked, slandered & removed" - plus new-time devs like Peter Rizun u/Peter__R who provided major scaling innovations like XThin - by the vicious drooling toxic authoritarian goons involved with Core/Blockstream. Everyone has been predicting the current delays and congestion and high fees for years, out here in the reality of the marketplace, in the reality of the uncensored forums - away from Core/Blockstream's centralized back-room closed-door fiat-funded censorship-supported PowerPoint presentations in Hong Kong and Silicon Valley, away from years and years of Core/Blockstream's all-talk-no-action scaling stalling conferences. The Honey Badger of Bitcoin doesn't give a fuck about "compromise" and "censorship" and "central planning". The Honey Badger of Bitcoin doesn't give a fuck about yet-another centrally planned blocksize (Now with 1.7MB! SegWit is scaling!TM) which some economically ignorant fiat-funded dev team happened to pull out of their ass and bundle into a radical and irresponsible spaghetti-code SegWit soft-fork. Markets aren't about "compromise". Markets are about competition. As u/ForkiusMaximusrecently pointed out: The market couldn't even give a fuck if it wanted to - because markets and cryptocurrencies are not about the politics of "compromise" - they're about the economics of competition. Markets are about decentralization, and they're about Nakamoto Consensus, where 51% of the hashpower decides the rules and everyone else either gets on the bandwagon or withers away watching their hashpower and coin price sink into oblivion. So, anyone who even brings up the topic of "compromise" is simply showing that they have a fundamental misunderstanding of how markets work, and how Nakamoto Consensus works. This actually isn't very surprising. Blockstream CEO Adam Back u/adam3us and Blockstream CTO Greg Maxwell u/nullc and all the rest of the so-called "Core devs" and all their low-information hangers-on like the economic idiot Blockstream founder Mark Friedenbach u/maaku7 have never really understood Bitcoin or markets. And that's fine and normal. Plenty of individuals don't understand markets very well. But such people simply lose their own money - and they generally don't get put in charge of losing $20 billion of other people's money. Markets don't need managers or central planners. Markets run very well on their own - and they don't like central planning or censorship. Now Core/Blockstream has finally entered the Kübler-Ross "bargaining" phase So now some people at Core/Blockstream and some of their low-information supporters have have started bitching and moaning and whining about "compromise", as they sink into the Kübler-Ross "bargaining" phase - while their plans are all in shambles, and they've failed in their attempts to hijack our network and our currency. Meanwhile, the Honey Badger of Bitcoin doesn't give a fuck about a bunch of central planners and censors whining about "compromise". Bitcoin Unlimited just keeps stealing more and more hashpower away from Core - until the day comes when we decide to fork their ass into the garbage heap of shitty, failed alt-coins. Fuck Blockstream/Core and the central bankers and censors they rode in on We told them for years that they were only shooting themselves in the foot with their closed-door back-room fiat-financed wheeling and dealing and their massive censorship. We told them they were only giving themselves enough rope to hang themselves with. Now that it's actually happening, we couldn't say "it's too late for compromise" even if we wanted to - because there is no such thing as "compromise" in markets or cryptocurrencies. Markets are all about competition And Bitcoin is all about 51% of the hashpower.
Bitcoin Core decided to bet on hard-coded centrally planned 1.7MB blocksize based on a a shitty spaghetti-code soft-fork. That's their choice. They made their bed now let them lie in it.
Meanwhile, Bitcoin Unlimited decided to bet on market-based blocksizes. And that's the market's choice. Bitcoin Unlimited listened to the market - and (suprise! surprise!) that's why more and more hashpower is now mining Bitcoin Unlimited blocks.
Bitcoin USD price, real-time (live) charts, bitcoin news and videos. Learn about BTC value, bitcoin cryptocurrency, crypto trading, and more. Bitcoin is now entering a death spiral, writes Atuyla Sarin. Bears reign as 86% of September’s $284M CME Bitcoin options are worthless As of now, the $622 million total open interest for BTC futures expiry on Friday seems quite relevant. Berkshire Hathaway Vice Chairman Charlie Munger went after bitcoin again on Monday, doubling down on remarks he made about the digital currency over the weekend. "Bitcoin is worthless, artificial ... In a MarketWatch column I wrote last April, I explained what it would take for bitcoin to become worthless. Bitcoin is getting close to that point. As I argued, once Bitcoin’s price falls below its cost of mining, the incentive to mine will deteriorate, thrusting bitcoin into a death spiral. That is, without the mining activities supporting the ledger that maintains the records of who owns ...