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    Cryptocurrency Daily General Discussion - January 13, 2018

    January 13, 2018

    Cryptocurrency Daily General Discussion - January 13, 2018

    Daily General Discussion - January 13, 2018

    Posted: 12 Jan 2018 10:12 PM PST

    Welcome to the Daily General Discussion thread.

    Disclaimer:

    Moderation is less stringent in this thread since it is exempted from the karma and age requirements. Therefore, consider all information posted here with a pinch of salt, and always cross check with known sources what information you find. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and excercise utmost caution before acting on any trade tip mentioned here.

    PnDs and brigades are not sanctioned by the mod team in any way as they violate rule III. If you discover this thread is being used for these activities, bring it to the mod teams's notice via the modmail.

    Guidelines:

    • Questions, debates, meta issues, etc are all welcome.
    • Breaking news should be posted separately from this thread.

    Rules:

    • All sub rules apply in this thread except for the karma and age requirements. Anyone can participate.
    • Discussion topics must be related to cryptocurrency.
    • Comments will be sorted by newest first.

    Resources and Tools:

    • To view live streaming comments for this thread, click here. Account permissions are required to post comments through Reddit-Stream.com.
    • Click the RES subscribe button below if you would like to be notified when comments are posted.
    • Consider checking out our Weekly Skeptics Thread for discussion focused solely on critical analysis. Click here and select the latest thread on the search listing.

    Thank you in advance for your participation. Enjoy!

    submitted by /u/AutoModerator
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    /r/CryptoCurrency is a Place for Quality Discussion

    Posted: 12 Jan 2018 08:50 AM PST

    Unprecedented Growth

    Cryptocurrencies have seen explosive growth over these past few months. Just 6 months ago, the total cryptocurrency market capitalization sat at $93 billion, and the number of /r/CryptoCurrency subscribers sat at 71,000. These have grown by 750% and 615% to $697 billion and 437,000, respectively. /r/CryptoCurrency has been the #1 non-default fastest-growing subreddit for most of January. It's clear the community and interest is growing, and we are excited to see the enthusiasm.

    We want to make /r/CryptoCurrency a place for quality discussion for ALL cryptocurrencies. We do not want /r/CryptoCurrency to be dominated by a single project, or to have only low-quality content.

    The moderation team has been hard at work providing important community resources and refining the subreddit rules. We would like to speak about our values, what changes we are making, and what you can do to help the mission. Frankly, we owe it to the whole ecosystem to provide a quality discussion board and resources that benefits the entire community.

    Moderating a group that is growing so quickly has its challenges. We will make some mistakes along the way, but we want to be as open as possible about our processes and work with all communities.

    Values

    /r/CryptoCurrency has the following values:

    1. Education. Many people take their first dive into cryptocurrencies on our subreddit. We need to promote high-quality resources for newcomers and long-time contributors alike. The moderators are working with several subreddit teams to create quality, factual documentation for as many cryptocurrencies as possible. If you are interested in contributing towards this project, message the moderators with what coins you are knowledgeable about and what experience you have.

    2. Constructive criticism and skepticism. We highly encourage constructive criticism and skepticism in this subreddit. We want to create a culture where people are constantly asking critical questions about different projects. No coin is perfect (despite what some people will say), so we should remain critical where improvements can be made. Posts balancing cool features with honest disadvantages are much higher-quality than those which only show one side of the story.

    3. Civil discussion. /r/CryptoCurrency is a place that is open to everyone. Posts encouraging discrimination and hate are not allowed and will result in a ban. Please report any of these posts as soon as possible so they are removed.

    4. Collaboration. It's important that this subreddit works with other cryptocurrency subreddits.

    5. Mentorship. Everyone starts off somewhere, and we should politely point these people in the right direction rather than ignore them. We should help these people learn more.

    Changes

    To better meet these values, we are making the following changes to /r/CryptoCurrency:

    1. Maintaining our current rule of a maximum of 2 memes on the frontpage. Of course, this means that most memes will be removed. We will encourage people who want a good laugh to post in /r/CryptoCurrencyMemes, in /r/CryptoHumor, and on Discord. In a month, we will assess if it's best to move all memes off this main subreddit.

    2. Stricter "low-quality" rules. Things like "why x is a top 10 coin", "why x should be worth $100", "why x will go to the moon", "why x will replace the internet", ALL CAPS, and screenshots of portfolios/CoinMarketCap will be considered low-quality and not allowed. Exceptions could be made for high-quality news sources like Bloomberg, BBC, Reuters, etc (most cryptocurrency "news" sites not included). Some low-quality posts that do not meet posting requirements will still be allowed in the daily discussion.

    3. Stronger tools against brigading. We will launch an active campaign to work with other subreddits to mandate non-participation (NP) links. Any posts that are linked elsewhere with the intent of starting a brigading campaign will be removed. Please contact the moderators with any evidence you have against brigading.

    4. Better bots. AutoMod is great in some ways, but it's clear that we need more. These include bots that automatically ban accounts that post referral links and hate speech.

    5. More moderators. /r/CryptoCurrency is recruiting! If you feel you have what it takes, make a thoughtful post in /r/CryptoRecruiting. We have added 10 new moderators (including me!) in the past month.

    6. A weekly skeptics thread. Here's this week's. This thread will be heavily moderated. Make sure to downvote and report shilling and low-quality posts. We want this thread to be filled with quality, thoughtful discussion.

    7. Increasing the post karma requirements. The karma requirement to make new posts will be increasing. Most shilling comes from accounts with very little karma.

    8. Banning karma begging. We do not want to see karma begging anywhere. This has been a persistent issue in the daily discussion. Instead of begging, post quality content that deserves upvotes.

    9. Sorting some threads by controversial. This is a powerful tool that helps reduce the effect of brigading. It is often preferable to having a post completely removed. We have tested this on some posts and are still assessing if it's an improvement.

    10. Megathreads. The moderation team will create more megathreads for important events to reduce clutter and organize the conversation.

    What You Can Do

    1. Think twice before posting. Are you seriously posting quality content with the best title? Does your post seriously add to discussion? Does the post meet all the subreddit rules?

    2. Use the "report" button. It's the best way we can spot any issues we miss.

    3. Follow rule X - communicate with the mod team. If you disagree with something, try contacting us first. We have resolved many issues from disgruntled redditors, and it's easiest if you start calm instead of grabbing your pitchforks.

    4. Help us write documentation! If you like a coin, why not create meaningful documentation that thousands of people will view? Quality standards apply, but we offer wide autonomy on several projects. Message the mods for more.

    That's it for now. Let's make /r/CryptoCurrency a great place for everyone.

    submitted by /u/SamsungGalaxyPlayer
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    Enjoy life... while you can!

    Posted: 12 Jan 2018 02:18 PM PST

    Dear crypto community

    I always read about people complaining they are not making gains and how shit their life is and so on.

    I want to tell you that i am hospitalized atm. Nothing serious just some safety checks because of some troubles i had with my heart.

    Anyway. I had to close my eyes many times while being here i even sang songs in my head to overhear the suffer of really ill Men/Women/Children.

    I am fucking crying while tiping this because i only can imagine what deathsick people are going through... what families are going through. If you hear a person that cries and begs to stay alive you will feel ashamed of the moments you thought your life is bad.

    Dear crypto community. I dont wish you gains and lambos and slut cocaine parties. I wish you all to stay healthy and to live life. Now!

    Dont wait. Life goes faster then you think.

    PS: Sorry for my bad English

    submitted by /u/Supertoaster9I
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    Waltonchain and the China Mobile IoT Alliance — Connecting the Dots with Crypto’s Biggest Announcement of 2018

    Posted: 12 Jan 2018 08:13 PM PST

    Russia will legalize cryptocurrency trading on approved exchanges!

    Posted: 12 Jan 2018 08:32 PM PST

    Twitch, an Amazon company, now takes btc and coinbase payments.

    Posted: 12 Jan 2018 07:58 AM PST

    VeChain's Global Rebranding Event: confirmed for 26th of Feb, 2018.

    Posted: 12 Jan 2018 08:05 PM PST

    The ID verification office at the exchanges

    Posted: 12 Jan 2018 11:07 AM PST

    WTC HUGE partnership with 100billion dollar company!

    Posted: 12 Jan 2018 09:04 PM PST

    Waltonchain announced that they will be working with China Mobile IoT Alliance on a global initiative to incorporate Waltonchain IoT in 2018!

    From the WTC official twitter: https://twitter.com/Waltonchain/status/952024577713975296 This is the largest mobile carrier in China I believe. Big news for WTC, a currency with amazing tech but who was lacking in partnerships. Was holding VEN until about 15 minutes ago when they delayed their rebranding event, but this is some long overdue news for WTC. China mobile is publicly traded worth 101.9billion USD.

    I'll post more of a technical break down for entry points for what price to buy at here : https://www.facebook.com/groups/116014865776792/

    submitted by /u/ToothFairyTea
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    Why 2018 is Ethereum´s year. It will be the unchallenged number 1 by year´s end.

    Posted: 12 Jan 2018 02:11 PM PST

    I will argue that the most exciting and relevant project in 2018 will be Ethereum. I predict that this is Ethereum´s year. There are a number of well known milestones upcoming for the protocol itself but I find the milestones in the Ethereum eco-system even more exiting and game changing. Ethereum will become the leading and eventually most talked about network outside the crypto world in 2018. It will also remain relatively unchallenged by upcoming tech like EOS, IOTA, Raiblocks because of the huge lead it has on the newer projects. This might change after 2019.

    Here is why: * In the coming weeks several major projects that have been in the works since 2015/16 will launch on the Ethereum main net. A lot of them are true game changers like Augur, Melonport and Golem. All of which have huge disruptive potential individually. Augur introduces a whole new concept, a use case that was entirely impossible until now. Melonport has the potential to disrupt the fund industry and make Fidelity as obsolete as your local travel agent.

    • Ethereum currently has 91% market share of all tokens. It might lose some ground on the token front but the vast majority of new projects will still run on Ethereum = further mainstream adoption incoming.

    • Early in the year Ethereum will continue to struggle to keep up with an increasing number of daily transactions especially as more Dapps are launching (already at 1,4 million per day - more than any other network). Major Ethereum network upgrades will remedy that. First the Constantinople Hard fork and hopefully the switch to PoS / Casper will settle TPS issues for the near future. I predict that Casper is launched ahead of schedule (this one is speculation but considering it´s running on the testnet right now I´m calling it) which would certainly be a nice surprise after having been delayed for 2 years.

    • I predict most newcomers in the second half of 2018 will learn about crypto by usind a Dapp - they will not be speculators but users. They will use Dapps and only as a second step learn about the tech that drives it. Since most of Dapps in 2018 will run on Ethereum it is likely that it will be the most talked about tech.

    • Finally, you can already see a shift in how the mainstream media is reporting on crypto. 3 months ago there was only ever a mention of bitcoin. Now all mainstream journalist are writing "what´s the next bitcoin" pieces that usually includes 5 alts - Eth always one of them. It´s easy to see how this will shift when more and more Dapps launch and people learn that most of them run on Ethereum. I predict we will see a shift in the focus of news reports on Ethereum just as we saw with Bitcoin in 2017. Why does that matter? I will drive the price up like we saw happen with BTC in 2017 and it will make Ethereum the hottest think to talk about.

    • Last but not least (again speculation coming up) I predict that the flippening will happen before the end of the year and that Ethereum will be the first project to reach a 1 trillion $ market cap and that this will happen before the end of the year. This assumes that we will not get a major black swan event of course. Given the current growth rate (which will of course not continue linearly throughout the year but using 2017 as a sample it´s still a fair prediction) it´s conservative to assume we will 10x again and end up with a $10 trillion market cap at the end of the year. With all of the points above I´d say it´s conservative as well to allocate Ethereum a 20% dominance.

    • Yes, this means a prediction of ETH price of $10.000 by years end.

    Ethereum and all the 1st gen Dapps will be THE showcase for what blockchain is, can do and how it can change the world. Blockchain 3.0 projects might challenge this status eventually but not yet. The delays in projects like Augur, Golem and IPFS have shown that it´s quite complex to build a solid and secure dapp. It´s safe to extrapolate that Blockchain 3.0 networks and their respective Dapps will face the same hurdles and not be ready to have a significant impact before 2019.

    Ok, done with my rant. Who would like to prove me wrong?

    submitted by /u/ethfiend2064
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    Kraken is offline for 42 hours now and this is what one of their engineer had to say about it

    Posted: 12 Jan 2018 05:37 PM PST

    Tweet Binance’s CEO, @cz_binance. Let him know Binance’s dynamic withdrawal fees are still absurd and need to be lowered.

    Posted: 12 Jan 2018 02:03 PM PST

    S. Korea banks to resume opening new cryptocurrency trading bank accounts at the end of January

    Posted: 13 Jan 2018 12:07 AM PST

    http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=101&oid=020&aid=0003121432 (via naver)

    http://news.donga.com/BestClick/3/all/20180113/88148510/1 (same article on the newspaper's website)

    South Korean banks stopped opening new cryptocurrency trading accounts for customers since December 28th last year.

    Korean Financial services commission made a decision after meeting with 6 major Korean banks on the 12th. Official said "Banks must implement real name verification system for cryptocurrency trading bank accounts by at the end of this month, then may resume opening new cryptocurrency trading bank accounts for customers "

    submitted by /u/csmonigo
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    Jim Breyer investing in Vechain is an absolutely massive signal. Here's why.

    Posted: 12 Jan 2018 04:55 PM PST

    The most optimal strategy

    Posted: 12 Jan 2018 11:36 AM PST

    The Future of Automotive Technology... IOTA, BOSCH & TESLA

    Posted: 12 Jan 2018 11:55 PM PST

    Bloom Phase 1 Is Live on Ethereum Mainnet

    Posted: 12 Jan 2018 03:03 PM PST

    DeepBrain Chain, the First Artificial Intelligence Computing Platform Driven by Blockchain | Business Wire

    Posted: 12 Jan 2018 06:38 PM PST

    PSA: DO NOT Give Your Kucoin API Private Key to Portfolio Tracking Apps (Yet)

    Posted: 12 Jan 2018 09:52 PM PST

    As of right now, the Kucoin API key allows FULL ACCESS of your account, which including 1) reading transactions, 2) TRADING (!), and 3) WITHDRAW (!!!)

    That means anyone who gets a hold of your private key can potentially STEAL ALL YOUR COINS kept on Kucoin.

    Even if the app developers are honest there's still the risk of them hacked which would result in the hackers getting hold of your API keys.

    Please upvote for visibility! And remember to be safe and smart out there guys. Happy trading.

    Reference: https://kucoinapidocs.docs.apiary.io/#introduction/api-key-permissions

    If anyone has more information on this please share!

    Edit: I confirmed this with a developer for a portfolio tracking app bituniverse

    Edit 2: For people wondering why you'd ever give private API key. If you can set the API permission to read-only then services like portfolio tracking apps can only pull and import your trade history automatically. E.g. on Binance you can configure permissions for individual API keys.

    I said don't do it Yet because Kucoin doesn't currently let you configure permissions but I assume it's a feature that they will be adding in the near future.

    Edit 3: it applies to ALL EXCHANGES not just kucoin but I'm not on that many exchanges so please be smart and check yourselves.

    Edit 4: im talking about API key on THE EXCHANGE which is completely different from your wallets secret key. API key is basically a access token needed for services like apps to retrieve information (READ) about a specific account on an EXCHANGE, or perform actions (trade or withdraw, if access given). And you only want apps to be able to read your transaction history on the exchange and not make any changes

    submitted by /u/VeryDeepLearning
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    How the hell did I miss out on buying Raiblocks 1 month ago when it was $0.30? What kind of sh*thole portfolio do I have?

    Posted: 12 Jan 2018 06:22 PM PST

    For early investors into Raiblocks, what caught your eye? The coin went up from 30 cents to $30 in one month, just before being added to Binance.

    How did I miss this investment? I just don't want to miss the next one that blows up so I'm trying to learn where I made the mistake. I have a couple of wild card coins in my portfolio, like tron. (I know this subreddit doesn't think too highly of this coin but I do like it) But I still don't know how Raiblocks went under my radar.

    Edit: I think people are downvoting me for using political humor to lighten the mood on my poor investment decision/overlook. But there is an educational takeaway here that I want to pick up on so I appreciate those commenting.

    submitted by /u/AlFrankenstien
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    (Oyster) Pearl completes re-brand & new website + hires new engineers + testnet confirmed for end of the month!

    Posted: 12 Jan 2018 09:21 AM PST

    How FunFair could become huge, bringing positive attention to cryptocurrency as a whole.

    Posted: 12 Jan 2018 02:04 PM PST

    In light of r/cryptocurrency and their new announcement on hopeful updated values, I would like to present an opportunity for discussion on a project that I think is great, here in the cryptocurrency space. I hope we can all have civil discussion and educate one another.

    Why and how FunFair can explode in growth, and bring mainstream attention to cryptocurrency.

    FunFair has been gaining more and more attention- and rightfully so. News articles, blog posts, video content, and more online discussion are coming to surface. I'd like to take the time to present to you all some reasons and explanations as to why FunFair could have fast, exponential growth due to it's potential network effect.

    First and foremost, what is FunFair? Very basically, FunFair is the "developer of the platform, protocol, technology, and games that are licensed to affiliates and white label casino operators."

    Company: https://funfair.io

    Want a quick video explanation on what FunFair aims to accomplish? Watch: https://www.youtube.com/watch?v=Gb3RrTy40yI

    Want an in-depth written analysis? Check out this stickied post in the FunFair subreddit: https://www.reddit.com/r/FunfairTech/comments/7o1ntp/funfair_a_game_changer_for_2018_an_indepth/

    Moving forward.

    FunFair has great potential in creating a network effect within and around it's own economic system. FunFair will be managing the business to business marketing (B2B) and allowing their affiliates (the separate casino operators) to handle most of the business to consumer marketing (B2C).

    This means that if operators choose to utilize and adopt FunFair's technology and platform, more marketing initiatives and advertising for FunFair-powered casinos will happen, thus bringing attention to FunFair and the services that they provide (provably fair, server-less, fast, fun online casino gameplay powered by blockchain technology.)

    "A network effect (also called network externality or demand-side economies of scale) is the positive effect described in economics and business that an additional user of a good or service has on the value of that product to others. When a network effect is present, the value of a product or service increases according to the number of others using it."

    https://en.wikipedia.org/wiki/Network_effect

    Increased amounts of operators using FunFair's platform and technology to power their very own casinos will increase the value of the service and token. Increased amounts of people using and playing the games in these casinos will promote growth within gaming communities worldwide.

    Initially, FunFair is planning to capture the gaming market of those interested and involved in cryptocurrency, as they are the low-hanging fruit of an enormous market. Since they are bringing blockchain technology to the gaming market, it only makes sense to begin with this- the first stepping stone of many.

    The team has been open about targeting small to medium sized casino operators to begin with. There are a lot. When the technology has been implemented with these several operators successfully, you can imagine that FunFair will have a solid "portfolio" of successful operations with these specific companies and operators. They can then begin to present this track record to larger casino operators worldwide, potentially securing positions and partnerships with them.

    FunFair is attending ICE, a large international gaming event that was attended by over 30,000 people last year- 8,500+ of which were gaming operators. They are launching their product here publicly. The event takes place in February, on the 6th to 8th. Remember that FunFair is focused on marketing B2B.. and understand they will be doing this professionally, and in an exemplary fashion.

    "ICE Totally Gaming is the only B2B gaming event that truly brings together the international online and offline gaming sectors."

    https://www.icetotallygaming.com/exhibitors/funfair-casino

    The CEO, Jez San, has been vocal about growth potential, and enjoys touching on ideas that are bounced back and forth in our communities.

    Some examples include (and are not limited to):

    • More unique games and game variants .
    • A developer platform (release of API) allowing ongoing production of new games by third parties.
    • An 84,000+ ETH reserve that can be used to fund innovative, ambitious ideas
    • A fiat > FUN purchase/processing system for easier token access in casinos

    I wrote this as a potential discussion guide, alongside the information. I am not going to list every single thing FunFair is up to, as I hope that you all can do research for yourselves and decide whether or not you'd like to invest in FunFair.

    I personally believe that if (when) FunFair succeeds, there will be a lot of positivity regarding not only the project, but cryptocurrency as a whole, because a successful product launch in the cryptocurrency space has not necessarily been done yet. Since gambling is something that a lot of people worldwide enjoy, it is easy to visualize widespread, commercial success for FunFair.

    TL;DR - sleeping giant :)

    submitted by /u/usuallyrealistic
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    Ok guys, these sell walls are getting ridiculous now.

    Posted: 12 Jan 2018 05:36 PM PST

    Today's FOMO News: COSS one day away from releasing UI

    Posted: 13 Jan 2018 02:17 AM PST

    Rune Evenson (CEO of COSS):"After the release of the first "sneak peek" many requested more room for the trading view. Because of that we have changed the UI a bit. We are in the final round of testing and bug fixing. It will be busy hours until the release!"

    Look&Feel of UI here: https://ibb.co/cMnPsR

    submitted by /u/AzakeB
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    So is Stellar like a decentralized version of Ripple?

    Posted: 12 Jan 2018 09:57 PM PST

    I was looking at the Stellar project and it seems very similar to Ripple except for the following:
    - Stellar is decentralized
    - Open source
    - Non profit (Ripple being for profit)

    Apparently one of the original founders of Ripple was fired and started Stellar as a result and now receives a percentage of Ripple earnings which helps fund Stellar.

    What are your opinions on Stellar?

    submitted by /u/Top_Falcon
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    I’ve been having some success predicting short term alt-coin price increases on Binance using machine learning, I made a Twitter bot to share them. Suggestions/questions welcome! Disclaimer: I make small trades on some predictions

    Posted: 12 Jan 2018 09:46 PM PST
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