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    Cryptocurrency Daily General Discussion - December 16, 2017

    December 16, 2017

    Cryptocurrency Daily General Discussion - December 16, 2017

    Daily General Discussion - December 16, 2017

    Posted: 15 Dec 2017 10:05 PM PST

    Welcome to the Daily General Discussion thread!

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    Crypto Broker

    Posted: 15 Dec 2017 12:40 PM PST

    If you're brand new to crypto, here's the meanings of some common words.

    Posted: 15 Dec 2017 03:37 PM PST

    Pretty much sums up my view

    Posted: 15 Dec 2017 06:37 PM PST

    I was the guy who bought 1 ripple last night

    Posted: 15 Dec 2017 02:18 PM PST

    Have you heard about our Lord and Savior, Satoshi Nakamoto?

    Posted: 15 Dec 2017 10:11 PM PST

    RaiBlocks Review - Instant, Free Transactions

    Posted: 15 Dec 2017 09:49 PM PST

    If you invested $100 each on the top ten coins on CMC on 1/1/2017, today you would have $43,700. Your best investment would be Ripple, landing you over $11,500 today.

    Posted: 15 Dec 2017 02:33 PM PST

    Exciting QASH update.

    Posted: 16 Dec 2017 02:08 AM PST

    For the people who do not know what QASH is, I suggest to read this post:

     

    https://www.reddit.com/r/CryptoCurrency/comments/7gqj7b/a_summary_of_qash_and_why_i_believe_it_will_serve/

     

    Mike Kayamori (CEO of QUOINE):

     

    Dear QUOINE Telegram Users

     

    Good Saturday afternoon.

     

    I couldn't keep my weekly friday update but please kindly find my quick summary for this past week.

     

    First from the market perspective, the price of BTC, ETH and altcoins continue to be volatile. With CBOE Bitcoin Futures listed on 10th Dec and with the upcoming CME Bitcoin futures listing on 18th Dec, we believe the market will continue to be sensitive. During these times, we urge our users to trade with caution.

     

    On our side, we continue to improve the performance of our platform. I believe we no longer have serious issues but this is still a quick fix. By the end of the year, we hope to migrate to a new matching engine and revamp our platform. We appreciate your patience and support during this time.

     

    From the customer champion (support) team, we are working around the clock as well as aggressively hiring. We are also looking at outsourcing partners to cope with the demand. We hope to have our outsourcing partner up and running by the end of Jan. We are also looking into processing withdrawals twice a day but will need to revisit our internal processes to make this happen. We will let you know more in the future.

     

    On the QUOINEX partnership side, we are discussing with several key white label opportunities which we hope to sign an agreement with one key partner soon. This will be our first white label partnership outside of Japan and will allow us to scale globally. This is also part of our global liquidity partnership and will also be our first partnership to allow QASH holders to pay for the services in QASH token. Exciting times.

     

    On the ICO front, the Japan FSA has made it clear that ICOs in Japan will now need to go through registered/licensed exchanges such as QUOINEX. This is a blessing and curse. This solidifies QRYPTOS/QUOINEX to become the leading ICO platform (in Japan and global) but will also put a lot of responsibility on our shoulders as we will now be responsible for the conduct of token.

    submitted by /u/swoopingmax
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    r/Bitcoin banned me for posting the article I wrote for Psychology Today on the FOMO-FUD Cycle (and IOTA) despite the fact that it had already received 200 upvotes. Here are my thoughts.

    Posted: 15 Dec 2017 01:30 PM PST

    I felt compelled to make this post because the action taken by at least one moderator of r/Bitcoin demonstrates some of the problematic behavior described in my article. Here's the gist of what happened.

    I'm a neuroscientist and journalist (www.bobbyazarian.com). Yesterday Psychology Today published my article, "How Fear Is Being Used to Manipulate Cryptocurrency Markets," which received 100k views in 24 hours thanks to the crypto-community sharing it widely (my editor informed me that this was all organic growth, as they had not shared it on social media yet).

    https://www.psychologytoday.com/blog/mind-in-the-machine/201712/how-fear-is-being-used-manipulate-cryptocurrency-markets

    At 2500 words in length, it is heavily researched, transparent, and vetted by the Psychology Today editorial team.

    In it I discuss what I refer to as the "FOMO-FUD cycle," which is probably a self-explanatory term to anyone reading this here. In the article, I use IOTA as a recent and prototypical example of how the cycle can artificially drive up and drive down prices so that some can profit at the expense of other investors. In it, I also try to get to the truth regarding the whole IOTA ordeal, as misinformation both hyping it up and spreading FUD had made it almost impossible for the average investor to cut through all the B.S. I feel that I can confidently say I was careful to present both sides of the story, going as far as to link the prime articles and tweets that were critical of IOTA. While writing it, I took special caution to be as objective as possible, as I knew there was little room for error when rebuking other journalists for inaccurate reporting.

    Yesterday someone shared the article on this subreddit where it received over 2k upvotes. Shortly after that post, I decided to share it myself on r/Bitcoin since it contained information that would be valuable to any cryptocurrency investor, including Bitcoin holders. If you read the article you will see that it is ultimately about what the crypto community—as well as the journalists covering it—can do to help the crypto-space and blockchain movement flourish.

    When I went to sleep it had well over 100 upvotes and was steadily climbing up the ranks.

    When I woke up, it was missing from the "top" page on r/Bitcoin, despite having 200 upvotes, and I found this message in my inbox.

    "You have been temporarily banned from participating in r/Bitcoin. This ban will last for 30 days. You can still view and subscribe to r/Bitcoin, but you won't be able to post or comment. Note from the moderators: altcoin spam"

    My question is, how can you call something spam that has received thousands of upvotes from the broader crypto-community, and two hundred from your own members? The article is also clearly not only for people interested in IOTA—that coin was just chosen as an example of a problem that has affected every coin at one time or another, especially Bitcoin, as statements from people like Jamie Dimon calling it a "fraud" are is FUD-filled as it gets.

    Obviously, the removal of the post and the ban were not warranted, but why did it happen? No one else had shared it on that page and I only posted it once. With over 2k post karma, there was no reason to suspect me as a spammer. I have replied to the mod team but have yet to receive a response.

    What was the motivation of the moderator who decided to take this action? Was he/she trying to suppress information that they saw as helping a currency that could pose a threat to Bitcoin? Did it strike a nerve because they were one of the FOMO- or FUD-spreaders the article referred to? What excuse will they come up with?

    I'm also posting this because I don't know how often this kind of thing happens (not just on that subreddit, but others as well), and from things I've read here and there, it might be a real issue.

    Bottom-line: There's no need for infighting amongst the cryptocurrency community. Bitcoin's success helps Ethereum, Litecoin, IOTA, etc., and those coins' success in turn helps Bitcoin. The blockchain/cryptocurrency movement—which is nothing short of a revolution—is strongest when it is united instead of when sub-communities use sketchy cyber-tactics to hurt those coins/communities they see as competitors or threats.

    The world is about to shine a spotlight on cryptocurrency. If we want to see mass adoption we should make sure it is looking its best.

    submitted by /u/weirdpsyence
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    Official from Colin LeMahieu, the lead developer of RaiBlocks.

    Posted: 15 Dec 2017 06:07 PM PST

    What Is Stellar Lumens: A Beginner's Guide

    Posted: 15 Dec 2017 08:20 PM PST

    Incredible advice from Warren Buffet you can apply directly to cryptocurrency.

    Posted: 15 Dec 2017 11:13 AM PST

    I've decided to invest 25% of my portfolio into XRB. I'm feeling a bit nervous. Details inside.

    Posted: 15 Dec 2017 10:35 PM PST

    I've been trading cryptocurrencies for a while now and have always played things quite conservatively. Growing my money at a slow and steady pace. Nothing wrong with that.

    Back in...(October?) I was going to invest 25% of my portfolio in IOTA because I was sure it would blow up. For some reason, I got lazy and didn't realize how easy it was to sign up for Binance. I never bought IOTA at 40 cents like I had originally planned, and I watched with disdain as it skyrocketed without me.

    I've also been following XRB, but have hesitated to invest due to the not-so-great website, the wonky exchanges, and the seemingly-too-good-to-be-true technology.

    Finally I decided to sign up for BitGrail a couple weeks ago and invested 2% of my portfolio in XRB @ 60 cents.

    Now I'm about to put a full 25% in there.

    I've never invested so much in a low market cap altcoin before, and I'm quite nervous. Does this seem like a reasonable idea? Or am I being totally foolish here?

    submitted by /u/charmander12345678
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    The immediate downvoting and "FUD-shaming" of any criticism, of any cryptocurrency, is killing this subreddit

    Posted: 16 Dec 2017 12:36 AM PST

    It doesn't matter how legitimate or well-researched your criticism is, if you post anything negative, about any cryptocurrency, on this subreddit, you're immediately downvoted. The front page has become nothing but cheerful headlines, rather than informative discussions.

     

    If you post anything critical about any cryptocurrency, your motivations are constantly and immediately called into question. It's assumed that your criticism of a technological aspect of a cryptocurrency is motivated by you wanting to drive down that cryptocurrency's price, so you can either buy it for yourself at a low price or drive more people to your favorite cryptocurrency of choice, bringing up its price.

     

    Why is it so difficult to believe that you might want to actually discuss the pros and cons of a cryptocurrency because you're genuinely interested in them? People debate Star Wars vs Star Trek, iOS vs Android, Xbox vs Playstation because of their genuine interest, so why should cryptocurrencies be any different?

     

    I'm also tired of "that's FUD!!" being thrown around as if it's an argument in itself. So what if a comment causes "Fear, Uncertainty, and Doubt"? Some criticisms should cause those things. That doesn't make them any less valid.

     

    Anyway, I'm hoping the community could be a little more open to genuine discussion of both pros and cons, rather than just an echo chamber of positivity.

    submitted by /u/ifisch
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    Google Searches for Bitcoin Bigger than Kim Kardashian, Beyonce & Taylor Swift Combined

    Posted: 15 Dec 2017 07:47 PM PST

    The demand for XRB is there...When is a real exchange going to pick this up?

    Posted: 15 Dec 2017 11:26 AM PST

    An Anonymous Early Adopter Is Donating 5,057 BTC ($86M) to Charity

    Posted: 15 Dec 2017 03:56 AM PST

    One in Three Millennials Will Own Cryptocurrency by the End of 2018

    Posted: 15 Dec 2017 12:07 PM PST

    How The Banks Bought Bitcoin - The Lightning Network AKA Sidechain Business Shilling Scheme

    Posted: 15 Dec 2017 10:15 PM PST

    Adoption of Bitcoin Picking Up Speed in Venezuela, Called “Lifesaving” Currency

    Posted: 15 Dec 2017 07:15 PM PST

    Is NEO a sleeping giant?

    Posted: 15 Dec 2017 01:45 PM PST

    NEO Receives Its First ICO Template

    Posted: 15 Dec 2017 11:05 AM PST

    I've built this simple and open crypto Airbnb and after two months of hustling I found 500 hosts that accept Bitcoin, Ether and Litecoin - no ICO required, thank you community!

    Posted: 15 Dec 2017 01:24 PM PST
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