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    Cryptocurrency Daily General Discussion - November 27, 2017

    November 27, 2017

    Cryptocurrency Daily General Discussion - November 27, 2017

    Daily General Discussion - November 27, 2017

    Posted: 26 Nov 2017 10:05 PM PST

    Welcome to the Daily General Discussion thread!

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    submitted by /u/AutoModerator
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    Bitcoin Gold sitting at #5 market cap is a disgrace to the legitimacy and evaluation of cryptocurrencies

    Posted: 26 Nov 2017 08:34 PM PST

    Quality projects, with real research, real hard working teams and a vision (won't shill specific ones here) are evaluated well below this brain fart with developers that premine, cannot even communicate a correct fork date, screw up the actual fork and then get their official GitHub client hacked within the first days.

    Disgusting. Dump it while you can.

    submitted by /u/A1mSC
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    A trading cheat sheet of all the things I've found very useful thus far. Let me know of any other ideas / sites / apps / books to put on for you guys. I'm especially interested in new books to add and read myself

    Posted: 26 Nov 2017 08:07 PM PST

    Coinbase is trending in the App Store

    Posted: 26 Nov 2017 04:02 PM PST

    Crypto guy buys his first stock…

    Posted: 26 Nov 2017 05:34 PM PST

    It took 8 years for the cryptocurrency market cap to reach $200B. It only took 24 days to get from there to $300B.

    Posted: 26 Nov 2017 05:35 PM PST

    This is gentleman.

    submitted by /u/Fly115
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    CoinOne (leading Korean exchange) will start listing IOTA tomorrow!

    Posted: 27 Nov 2017 02:42 AM PST

    IOTA LISTED ON 2nd Biggest Korean Exchange COINONE!

    Posted: 27 Nov 2017 02:58 AM PST

    Lite Coin breaking out

    Posted: 26 Nov 2017 06:31 PM PST

    Big sellers taking limit orders off of the books. Overall strong market forces in crypto. Listed on coinbase which is trending on apple app store. Plebs don't understand crypto and feel more comfortable buying something that is only $80. TA shows bullish flag forming. All this leads me to believe we see $100 soon.

    submitted by /u/Jandro93
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    Cryptocurrency Market Cap surpassed $300,000,000

    Posted: 26 Nov 2017 06:06 PM PST

    The problem with NEO... or how to shutdown NEO for $11,000

    Posted: 26 Nov 2017 05:44 PM PST

    Right now in NEO it costs 490 GAS to deploy a contract. This is about $11,000 right now. This barrier to entry is probably why this attack has not been done yet... but the details of it are obvious just from the whitepaper. It's a core protocol flaw.

    All you do is write a smart contract that does a lot of useless computation and then returns successfully (if it errors then the blockchain consumes your GAS. this is why existing contracts won't work) when it hits about 9.9 GAS consumed. Deploy it and pay the 490 GAS fee... and you now have a contract that anyone can abuse to denial of service attack the network. How?

    NEO's blockchain gives the first 10 GAS free with no minimum amount of GAS to be spent. This is cool because it allows for users to use smart contracts with 0 fees... but as we can see here it also allows for spammers to use the smart contracts with no fees. You could also use this method to store up to 9Kb of data per transaction. Transactions are completely free to create and only require that you hold at least 1 NEO.

    I expect if you were to do this the attack might last a day or two but then the NEO council would censor your contract making it useless and all transactions to it would fail to confirm. They have this ability because they operate all nodes on the network currently. They lose this ability if they later let the community run validating or book keeping nodes.

    They could also fork to fix the problem permanently.. but this has problems too. Forking to take away the initial free gas would fix this for good. But with how expensive GAS is, this would make most contracts useless since the bare minimum execution seems to be about 0.3 GAS which is currently $7... and this is just the amount of gas needed for a contract to check a field and then exit with no serious computation happening.

    There is also the mitigation that all transactions cost a fee for "priority". This would break everything though because every wallet and API assumes no fee is needed for prioritization. So how will they fix this if someone attacks it today?

    submitted by /u/cryptosirenxx
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    Blockfolio down?

    Posted: 26 Nov 2017 08:47 PM PST

    Ethereum just briefly traded over $500 on the korean exchanges, Bitcoin is at $9950 as we speak, and Litecoin is trading at $94.

    Posted: 26 Nov 2017 08:55 PM PST

    Odds are if the koreans sustain these prices the US exchanges will play catch up.

    submitted by /u/Jandro93
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    Spectiv to be featured on Fox Business’ Innovations in Q1 2018 aired to over 100MM viewers

    Posted: 26 Nov 2017 05:21 PM PST

    Modum progress update by CEO starting November 30th

    Posted: 26 Nov 2017 08:41 PM PST

    Why I'm excited about the Request Network as an Ecommerce retailer and customer (x-post r/requestnetwork)

    Posted: 26 Nov 2017 03:48 PM PST

    I'm going to try and describe simply one use case for the Request Network as I've tried to understand it, so please correct me if I'm wrong with any assumptions here. This is something that is close to being on testnet for ETH but I'm going slightly further in the future.

    So let's start with the checkout. There's a pay with Request button next to the pay with PayPal button.

    I click on the pay with Request button and a new window opens asking me which currency I would like to pay with. I can choose fiat currency right from my account or any cryptocurrency I have. I can even choose to spend my extra air miles I don't need because they've been tokenised.

    I choose ETH and since I have a Request account set up I sign my details and the request is paid. The retailer however doesn't want ETH, they want to be paid in DOGE.

    So the ETH that I spent goes to the Kyber Network and is exchanged at the going rate for DOGE and sent to the retailer for his payment. A small fraction of the ETH however converts to REQ and that REQ is burned to fuel the transaction. All done wth neither the buyer or seller touching REQ tokens at all. I can easily make a claim to get my money back if my item arrives damaged as it's held in escrow until the item arrives with me.

    So I paid for my item in my currency of choice, the retailer receives his currency of choice. A tiny fee for this transaction has been paid, which has profited a REQ holder and at the same time contributed to the rising price of REQ as it has increased scarcity by burning. But, the transaction fee never rises as its adjusted to the value and amount of REQ circulating.

    So why did I pay with Request and not PayPal? Well obviously I wanted to pay in ETH or any other crypto. I also prefer paying with Request because the money goes right from my account across a trustless network, that means none of my details are held in centralised systems and I have my bank details on the Request network too, where they are safer. The fee is also a fraction of PayPal's which is great for the buyer and amazing for the retailer.

    There are limitless other use cases for the Request network, this is just a small one but if it becomes Ecommerce standard or even 1% of PayPal currently then it will absolutely huge.

    I'm not that technical of a person and only scratched the surface of this process and it's advantages. So please do correct me or add anything I've missed out!

    submitted by /u/flinch85
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    Today at 14:00 New York time (20:00 CET), NEO will present the next step in masterplan for a Smart Economy: Ontology. 5 promising projects will be further unveiled.

    Posted: 27 Nov 2017 02:46 AM PST

    Agenda

    • 13:30 – 14:00 Arrival and registration

    • 14:00 – 14:30 Hongfei Da, CEO of Onchain & Blockchain Community Leader - Welcome speech

    • 14:30 – 15:00 Jun Li, Chief Architect of Onchain - A New Generation of Distributed Trust Networks

    • 15:00 – 15:30 (to be confirmed)

    • 15:30 – 16:00 Coffee break

    • 16:00 – 16:10 Alphacat sharing presentation

    • 16:10 – 16:20 The Key sharing presentation

    • 16:20 – 16:30 Q Link sharing presentation

    • 16:30 – 16:40 Deep Brain sharing presentation

    • 16:40 – 16:50 PeerAltas sharing presentation

    • 16:50 – 17:30 Networking

    Here is a Medium post by Malcolm Lerider who is - apart from hyping announcements of announcements for no reason - better at explaining how conventional businesses will use NEO's and Onchain's Ontology project: https://medium.com/@MalcolmLerider/smart-economy-ecosystem-explained-460acf4280a8.

    I am very curious about all five of them and happy to a top 10 Coinmarketcap project that has vision, ambition and is not hyped to the moon.

    What do you think of this project? Hype? Imminent disappointment? A good place to store your crazy BTC gains? Let's discuss and not hype this to the moon, it will not go there before 2018. Cheers.

    submitted by /u/rookert42
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    NEO dApps competition winners!

    Posted: 26 Nov 2017 02:27 PM PST

    Monero Is What People THOUGHT Bitcoin was

    Posted: 26 Nov 2017 07:33 PM PST

    Monero is truly anonymous, de-centralized internet money; what most people thought of, (and some still do), when they think about Bitcoin. Yet it's still laying low in 8th place.

    If you ask 100 people on the street what bitcoin is, 75 will say, "yes", and 20 of those 75 will actually know some details about it. Do the same experiement with Monero and you'll get 0 or 1 "yes". Monero is superior to bitcoin in terms of the value it offers, (true financial privacy), yet no one even knows about it yet... I could be nuts, but I honeslty see Monero becoming bigger than Bitcoin in terms of market cap & user-base soon once multi-sig comes out, big exchanges adopt it and people start hearing about it more.

    Am I just not seeing something? Boggles my mind how XMR is still so unknown in the scheme of things.

    submitted by /u/Bitcoinfriend
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    Paid for by Bitcoin? Allegations Swirl Around Catalonia Referendum

    Posted: 27 Nov 2017 01:07 AM PST

    In-depth analysis on LoMoCoin (LMC)

    Posted: 27 Nov 2017 02:30 AM PST

    So... what just happened that bitcoin just dropped and almost all of the alts?

    Posted: 27 Nov 2017 01:37 AM PST

    Some bad news or just cashing out?

    submitted by /u/bonezone2020
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    LITECOIN

    Posted: 26 Nov 2017 08:01 PM PST

    I can't find my previous post but I called this out months ago! Nice job LTC and also to the dedicated developers! You guys are appreciated tremendously.

    submitted by /u/Domie109
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    IOTA Gets interviewed by the No.1 Tech Media #數位時代 in Taiwan.

    Posted: 27 Nov 2017 03:00 AM PST

    Is Ark going to see strong gains in the near future?

    Posted: 26 Nov 2017 03:57 PM PST
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