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    Cryptocurrency Daily General Discussion - March 6, 2018

    March 06, 2018

    Cryptocurrency Daily General Discussion - March 6, 2018

    Daily General Discussion - March 6, 2018

    Posted: 05 Mar 2018 10:12 PM PST

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    submitted by /u/AutoModerator
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    My portfolio before and after January

    Posted: 05 Mar 2018 02:53 PM PST

    The general public won’t care about crypto again until Bitcoin breaks past $20K

    Posted: 05 Mar 2018 09:52 PM PST

    NEO founder, Da Hongfei addresses FUD and false claims.

    Posted: 05 Mar 2018 11:14 PM PST

    NEO FUD - keeping the facts straight

    Posted: 05 Mar 2018 09:51 PM PST

    EDIT: as of a few hours ago, NEO's blockchain experienced another outage, this time with a 14 minute block time, followed by a 2 minute block time. Correct block time is 30 seconds. https://neotracker.io/block/hash/3322f1170b4ee77bca9ed99005d845cbf7b75aa2349b725d546b3e1919d8b7bd

    As many of you know, there's a huge amount of FUD with NEO recently. Here's what happened.

     

    The FUD started when the Store of Value blog released an article titled "NEO Is A Multi-Billion Dollar Disaster". The blog post accused NEO of having poor performance, much worse than the advertised 1000 transactions/second. The primary pieces of evidence the author gave was huge block time differences during ICOs (high traffic periods). During the RPX ICO, NEO had a 5 minute block when the typical block time is around 30s. During the Trinity ICO, NEO had a 25 minute block and a 12 minute block. The author stated that a blockchain with 1000 transactions/second shouldn't be choking with a single ICO on the platform. During the Bridge Protocol ICO, users had trouble contributing and a Bridge Protocol admin claimed that it was because "NEO is running into issues with consensus currently".

     

    The article also highlighted several developer comments on NEO's smart contract ecosystem. These developers claimed that the system was poorly coded and lacked a lot of features. For example, multi-language support is poor even though this was a widely advertised property for NEO's smart contract 2.0 system.

     

    I double checked NEO's blockchain explorers and can confirm that these unusually long blocks do exist, and they did occur during NEO ICOs. There has been no official explanation for these issues so far.

     

    It's important to note that the Store of Value blog's author is invested in Ethereum and QTUM, both competitors to NEO. The author is infamous among the NEO community for spreading FUD, primarily around NEO's centralization.

     

    A few days later, NEO has a 2 hour block without an ongoing ICO. Soon after, Bitcoin.com published an article titled "NEO Is Either a Raging Success or a Total Disaster". The article questioned NEO's technical foundations, citing the Store of Value blog and also the recent 2 hour outage.

     

    Soon after the Bitcoin.com article came out, a NEO team member gave an explanation for the 2 hour block. Apparently a single node went down causing a deadlock in the consensus process. He stated that a patch was being developed and will be deployed soon.

     

    After the Bitcoin.com article, a Bitcoin.com article and blockchain engineer, Eric Wall, authored a 16 tweet-long tweet thread calling out NEO's consensus problems. He says that single-node-failures are the most fundamental faults a fault tolerant algorithm needs to solve and the fact that NEO still has bugs causing single-node-failures is a huge red flag. He has calls out NEO's lack of smart contracts on the system (23) and how expensive it is to actually deploy one.

     

    Eric's tweet thread became viral with more than 3.9k likes and 1.7k retweets.

     

    Many prominent cryptocurrency leaders noticed, including:

     

     

    These tweets caused a huge reaction from NEO's community. Many called it FUD and a coordinated attack. NEO quickly followed up with several responses to try to remedy the situation.

     

    Erik Zhang, the lead dev for NEO, released a statement explaining the bug and gave a timeline of when the fix will be deployed: https://twitter.com/neoerikzhang/status/970696203766710272

     

    Malcolm Lerider wrote a Medium blog post giving more details about the bug: https://medium.com/@MalcolmLerider/shoutout-to-take-responsibility-5717dc72367a

     

    Fabio Canesin, founder of the City of Zion, provided a video demonstration of NEO continuing to run in a private net even with one node taken down: https://www.youtube.com/watch?v=4M1jWsD0KJQ

     

    Hopefully this clears up the whole situation and answers any questions for those that don't have the time to keep track of all the events.

    submitted by /u/bitconnectscrub
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    [CoinBase] we have made no decision to add additional assets to either GDAX or Coinbase.

    Posted: 05 Mar 2018 11:46 AM PST

    OriginTrail Infographic - Learn how the protocol works

    Posted: 06 Mar 2018 12:31 AM PST

    The community admins of Telegram got together (coordinated by @Bob_does_crypto) and have created a new Infographic to better help explain some of the potential use cases for OriginTrail. It was self funded by the admins and we thank David Hunt who was commissioned to produce the artwork, he was a pleasure to work with.

    We wanted to highlight the uniqueness of the protocol and how it connects and compliments with supply chain platforms/ blockchains.

    Please feel free to like, share, tweet, print & post this wherever you like. For any other community project suggestions please contact us on Telegram. We hope you love it as much as we do.

    Trace on Tracers

    https://i.imgur.com/wKVZ4rQ.png

    submitted by /u/lukeamac
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    IOTA confirmed transaction speed has increased dramatically! Try it out!

    Posted: 05 Mar 2018 01:19 PM PST

    If you haven't used the tangle this morning, you should! TX's are being confirmed 30secs - 1 min after being sent to tangle, huge upgrade from previous. Check it out on www.tanglemonitor.com . If you want to try it out create a seed and I'll send you some if you PM me!

    submitted by /u/Justwall
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    Odds of winning Powerball (Lottery) vs guessing one bitcoin private key

    Posted: 05 Mar 2018 12:40 PM PST

    Somewhere on earth is now making a traffic sign looking for there blockfolio to have a safe trip!

    Posted: 05 Mar 2018 05:35 PM PST

    Neblio Orion is out!

    Posted: 05 Mar 2018 08:27 PM PST

    Hey guys!

    https://orion.nebl.io/#/disclaimer

    Neblio Orion is out. For those of you who don't know, Orion is Neblio's newest web wallet that now has the ability to hold any NPT1 token(ERC20 for Neblio). You can create your own token in literally 2 clicks! Able to be programmed in 4+ languages and a POS coin, Neblio is hoping to nab businesses and stakers with their easy to use software, and extensive wallet ability. This is a huge landmark for Neblio, which honestly has more functionality/as much functionality as any other platform coin out there. Please check it out!

    Just a little more context for those who aren't incredibly knowledgeable about Neblio: it is a coin that had its ICO in August. When they released their ICO, they already had a working wallet and staking system. Within the past 7 months they have created:

    Desktop wallets for PC, Mac, and Raspberry Pi(staking available)

    Android wallet, with the IOS wallet being delayed due to Apple.(No staking)

    Neblio docker that allows huge cloud services such as AWS to run a node within minutes.

    NPT1 tokens that can be coded with metadata and programmed in 4+ languages

    AND FINALLY: A web wallet that is capable of creating a token within 2 clicks!(of course it will take longer to code functionality into it) with the wallet being able to hold and transfer any and all NPT1 tokens!

    Fans of Neblio, please let me know if I am missing anything.

    This team of 3 Developers have gone above and beyond what other teams with 30+ developers did in the same time frame. In Q2 they will be releasing the rest of their Rest APIs and begin their marketing initiative to get businesses to run on their platform.

    STAKING ECONOMICS:

    Neblio has an inflationary supply based on staking. Rewards are approximately 10% of the NEBL you hold each year. With a supply of around ~14 million coins, Neblio awards both transaction fees and newly created NEBLs to stakers.

    A clear example of this would be to take this example: I have 400 NEBL that I am staking. In the next 12 months, if I am staking 24/7, I will receive approximately 40 NEBL. Those 40 NEBLs will be a combination of fees collected from the block I stake & NEBLs created to reward me to eventually meet the 10% year quota. Supply does not increase very fast because only a small % of NEBLs are created based on % staking only, not total supply.

    It is an amazing coin, and I would urge everyone to do their own research to realize what a great coin this is!

    EDIT: Also, Neblio has contacted Ledger and have provided all necessary documentation in order to be integrated into it, so stay tuned!

    submitted by /u/japt2
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    The IOTA network got upgraded!

    Posted: 06 Mar 2018 02:36 AM PST

    The IOTA network got upgraded. Confirmation times for nearly 90% of value transactions now under 2 minutes. For perspective yesterday this was 40% big performance upgrade!

    https://twitter.com/iotatokennews/status/970914596201664512?s=21

    submitted by /u/degineth
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    That's why I invest in crypto

    Posted: 05 Mar 2018 05:51 AM PST

    In my circles, almost everybody is saying that crypto world is, at best, a big bubble, and it would burst soon. At worst, it is the biggest Ponzi scheme ever created in the history of humanity. Every cryptocurrency has only one aim: To fool millions of people all over the world and take their money. I don't try to convince them, don't even start any discussions. I just smile and change the subject. Why? Because all these things look like deja vu for me.

    I am in my mid-forties and worked as a developer for several companies, including those that are well known today. I also owned some shares of blue-chip tech companies. Everyone around me, including those who claimed to be experts, told me that the Internet was just a bubble, nothing more. And then dot-com bubble burst. I made a decision to stop holding the stocks and sold them. Now it is impossible to assess how much money I would have gained in case I had not listened to those experts and continued holding the stocks... After many years I ended up in the same situation. And now, since I have become a more experienced individual, I am not going to listen to the advice of fools trying so hard to look knowledgeable. I am not going to repeat my mistakes.

    I started trading about two years ago. I bought several cryptocurrencies and kept holding them despite market fluctuations which sometimes were tough. Of course, I modified my portfolio, disposing of garbage and buying promising cryptos. All of my surroundings were desperately screaming that I would lose my money and I had to cease to play Russian roulette. Bubble, bubble. bubble... Bubble, bubble, bubble... While trying to convince me, my friends and colleagues became obsessed with this word. Mass media started spreading the rumors about regulation, institutional investors, especially greedy bankers from Wall Street who are guilty of 2008 financial crisis, threw balls to the wall so that cryptos became less popular.

    And I still continued to hold. The entire world tried to convince me to sell, and I still continued to hold. And now I can say that it was a successful strategy. I bought several major cryptos like Ether, Ripple, Iota, Litecoin and some unpopular and emerging tokens like Xaurum, Primas, and Ties. I used the experience I received during the dot-com boom, and it helped me to be patient. I cannot say that I became wealthy enough to hit the Forbes rating, but I gained pretty much money.

    While other investments are becoming less and less profitable, crypto became the only sphere where you can gain a lot of money. It is time to pre-empt our seats before others have understood where the pot of gold is hidden. Blockchain is the technology that is already revolutionizing the world. And it is just the beginning. I have no doubts that this industry will show significant growth. I have no intention to test my nerves and don't want to trade. I am going to be in it very long time. And I will be successful. No, not just me. We will be successful.

    submitted by /u/Meek_Mitchel
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    These scam accounts sure are persistent.

    Posted: 05 Mar 2018 12:56 PM PST

    Why is nobody talking about TrueUSD being listed on Bittrex? It's like USD Tether, but more legitimate. If multiple companies have different "tethers" then it reduces the impact if any one of them is found to be insolvent, solving the USD Tether problem.

    Posted: 05 Mar 2018 07:16 PM PST

    Am I missing something, or is this essentially problem solved? Now USD Tether has a major competitor, the first of many probably, and if adoption grows then you won't have that single point of failure everyone is worried about.

    submitted by /u/MaxMusa
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    Crypto Currencies that pay dividends - Ark has best returns, make money just for holding, good thing to do in bear markets

    Posted: 05 Mar 2018 03:53 PM PST

    China Proposes National Cryptocurrency Trading Platform

    Posted: 06 Mar 2018 12:15 AM PST

    MoneroV: Why the Monero Hard Fork is Most Likely a Scam

    Posted: 05 Mar 2018 11:10 AM PST

    WHEN researching a new Crypto, nothing turns me off more. English speaking or not, if you're looking to raise millions in capital, at least hire someone to SPELL CHECK THE MENU ON YOUR WEBSITE! I was gonna invest until I saw this. Lol

    Posted: 05 Mar 2018 05:35 PM PST

    APEX Blockchain Announcement!

    Posted: 06 Mar 2018 12:30 AM PST

    Circle Invest app has Beta released, and allows instant, zero fee crypto purchases from iPhone

    Posted: 05 Mar 2018 04:46 PM PST

    Selfkey Feb Progress: Solid Partnerships

    Posted: 06 Mar 2018 02:34 AM PST

    Scam sites are buying ad space to get to the top of the search feed. Clicking it takes you straight to a copy-cat of the Cryptopia login screen, and you can easily lose your information to thieves if you aren't paying attention.

    Posted: 06 Mar 2018 12:54 AM PST

    The TrueUSD meeting at Bittrex in a nutshell

    Posted: 05 Mar 2018 11:56 PM PST

    My prediction why a bull run is near? The whales want it to happen and history agrees!

    Posted: 05 Mar 2018 08:56 AM PST

    Hey everyone! So, I made a post earlier that got a lot of traction. Some good, some negatives comments were made (you guys did not have mercy.) That's fine I expected it to be controversial. However, one thing everyone seemed to agree on is I can't predict the future for certain. This is true, but I can give my opinion and some thoughts on why I think it will happen.

    So, last year around the end of march till early june we saw the first extreme "Alt season". The total marketcap at first didn't change, but bitcoin dominance started bleeding into other coins which gave them a huge run. Soon afterwards, a lot of new money was coming in causing the total marketcap to double. People have posted the charts of crypto taking a nosedive every new year. You can't predict the future with history for certain, but it's a good indicator. And crypto thus far has proven to be repetitive, so if history repeats it will begin around end of march with some coins leading the charge.

    Also, why else do I think a bull run is near? The whales want it to happen. The other day some of the largest bag holders of bitcoin market bought hundreds of millions dollars worth all at the same time. The top guy alone bought over 16,000 bitcoins at once. They did this because we were close to falling out of the bullish patterns. Bitcoin still doesn't have as much money into it as people think. A couple hundred million can still manipulate the entire market. Also, since bitcoin isn't as anonymous as Mr. Gates proclaimed we have proof of this happening (little shade😉) Just look at the wallets size and the time they all bought. Whale manipulation

    Btw open link to see the wallets its the second pic

    In conclusion, I'm not saying its 100% certain. But I personally would put my bets on it happening sooner rather than later. Also, just as a reminder if history does repeat itself. Bitcoin will have a run first taking marketshare from all the alt coins causing them to bleed. Then bitcoin dominance cools down and goes back into alts and makes them go up higher then before. So, be careful don't be too overexposed into alts. Hedge with fiat or btc, ect.

    Also, bear in mind that crypto likes to trinkle down from the top. So, if alt season does start expect it to play out something like this. First, you will see high marketaps like ripple, nano, xmr, ect, will have runs first. Then midcaps will follow suite such as req, nebl, ect. In the tail end of the run you will see some smalls caps making some insane runs. For example, last bull run started around November but nano had its insane run a week before the end in beginning of January. Again these are just my observations, goodluck 😊

    submitted by /u/Crerilian
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    Bittrex Adding TrueUSD

    Posted: 05 Mar 2018 04:42 PM PST
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