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    Cryptocurrency Daily General Discussion - April 6, 2018

    April 06, 2018

    Cryptocurrency Daily General Discussion - April 6, 2018

    Daily General Discussion - April 6, 2018

    Posted: 05 Apr 2018 11:14 PM PDT

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    submitted by /u/AutoModerator
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    Verge (XVG) Mining Exploit Attack Megathread

    Posted: 05 Apr 2018 11:40 AM PDT

    To reduce the multitude of posts on this topic, this megathread will take their place and include existing information and any further updates.

    Summary

    On April 4th, suprnova mining pool operator ocminer posted this thread notifying the crypto community and verge team that the attack had happened and how it worked.

    There's currently a >51% attack going on on XVG which exploits a bug in retargeting in the XVG code.

    Usually to successfully mine XVG blocks, every "next" block must be of a different algo.. so for example scrypt,then x17, then lyra etc.

    Due to several bugs in the XVG code, you can exploit this feature by mining blocks with a spoofed timestamp. When you submit a mined block (as a malicious miner or pool) you simply set a false timestamp to this block one hour ago and XVG will then "think" the last block mined on that algo was one hour ago.. Your next block, the subsequent block will then have the correct time.. And since it's already an hour ago (at least that is what the network thinks) it will allow this block to be added to the main chain as well.

    This attack given the malicious miner almost 99% of the effective hashrate, giving them the ability to perform a 51% attack and rapidly collect block rewards from thousands of blocks. In response, some exchanges have disabled deposits and some pools have disabled Verge support as they cannot currently compete.

    The Verge development team has said they will not rollback the chain, and has pushed an attempted fix that has been controversial about whether it will work and what unintended consequences it may have. (source)

    Update: Verge's latest twitter post on the matter

    Prior popular /r/cryptocurrency posts

    Other resources

    submitted by /u/CryptoMaximalist
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    Nano can now be tipped to anyone with a Twitter account using the @NanoTipBot. See the video on this being sent in approximately 2 seconds!

    Posted: 05 Apr 2018 06:56 PM PDT

    Man lives entirely off cryptocurrency - uses it for every purchase.

    Posted: 05 Apr 2018 05:27 PM PDT

    Coinbase president AsiffHirji will be making a major announcement at 5 pm ET on CNBC's Fast Money

    Posted: 05 Apr 2018 11:16 AM PDT

    1% tax of the total trade value on each crypto to crypto transaction in Poland

    Posted: 05 Apr 2018 11:25 PM PDT

    Polish Ministry of Finance has just published guidelines for taxes on crypto, three weeks before the dealine for tax report.

    According to them crypto is treated as commodity and you are required to pay 1% of the total value of the transaction, even on crypto to crypto just like you would paid for selling or buying an used car or yacht. But wait, there is more. For each transaction you make you are obliged to fill in a special paper form and send it to tax deparment. Imagine having a bot which makes 100 trades a day with your total capital, yup you have to pay 100% tax worth of your portfolio and fill in 100 papers.

    But wait, there is more. On top of that, you have to pay your normal income tax on any gains at the end of year, 18% or 32% depending on your income.

    Viva la revolution!

    Here is an official statement, use google translate if you are interested: https://www.mf.gov.pl/pl/ministerstwo-finansow/wiadomosci/aktualnosci/ministerstwo-finansow2/-/asset_publisher/M1vU/content/skutki-podatkowe-obrotu-kryptowalutami-w-pit-vat-i-pcc?redirect=https%3A%2F%2Fwww.mf.gov.pl%2Fpl%2Fministerstwo-finansow%3Fp_p_id%3D101_INSTANCE_NsX0%26p_p_lifecycle%3D0%26p_p_state%3Dnormal%26p_p_mode%3Dview%26p_p_col_id%3D_118_INSTANCE_9Jwz__column-1%26p_p_col_count%3D1#p_p_id_101_INSTANCE_M1vU_

    submitted by /u/muchacho_pl
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    EOS, why we all should boycot it

    Posted: 05 Apr 2018 02:36 PM PDT

    Lately I've been on a crusade against EOS, as for some reason it's actually gaining value. Sadly a lot of people who invest in crypto are sheep who hardly do any research at all. My thesis is that It takes only a few shilling post read on Reddit to trigger a buy (I have done the same, which luckily worked out). Lately I've been reading a lot of shilling towards EOS. How? Do people know who are behind the company of EOS? Do people know what kind of background they have? And if you know, how can you ever endorse such a company?

    I'm of course talking about Brock Pierce. This man should be given the worst possible punishment you can imagine giving to a human being in my eyes. But you don't have to believe me, read his Wikipedia, it's directly also the reason why NOT to invest in EOS and a big reason why to BOYCOT EOS:

    https://en.m.wikipedia.org/wiki/Brock_Pierce

    For those lazy, I'm talking about this:

    Pierce retired from acting at 17 and joined as a minor partner with Marc Collins-Rector and Chad Schackley in establishing Digital Entertainment Network (DEN), which succeeded in raising $88 million in venture capital.[2] He produced its first show, a pilot for gay teenagers called Chad's World.[3] Pierce began enjoying a lavish lifestyle in Los Angeles riding the Dot-com bubble. As an 18 year old, Pierce was making $250,000 a year and held 1% of the company's shares.[4]Within three years, DEN, never having made a profit and having exhausted its venture capital, collapsed and Pierce fled the U.S. with his two co-founders when a number of former underage DEN employees made sexual misconduct allegations against them.[5][6] The three were arrested by Spanish police before being returned to the US. Though Pierce was not ultimately charged, his partner Collins-Rector was convicted on multiple counts of child enticement involving boys.

    Now let's look at this once again:

    Within three years, DEN, never having made a profit and having exhausted its venture capital

    And of course this:

    and Pierce fled the U.S. with his two co-founders when a number of former underage DEN employees made sexual misconduct allegations against them

    Now from this point, I would advice you to watch the documentary 'An open secret'. This pretty much tells the story of 'DEN'. In the end one of the child actors took his own life.

    But wait! We aren't done yet! At least not with mr. Pierce. The wiki goes on:

    In 2013, Pierce joined brothers Bart and Bradford Stephens in founding venture capital firm Blockchain Capital (BCC) which was reported to have raised $85 million in two venture funds by October 2017.[8] Described as its managing partner, Pierce announced a $50 million Initial Coin Offering (ICO) by BCC in February 2017.[9] On its launch in June 2017, the currency was named EOS and marketed through a new vehicle called Block.one

    And guess what? He actually managed to raise 50 million dollars, and EOS is now worth over a billion dollars. Not only that, they just dumped 130k ethereum a few days ago, so we KNOW they liquidated their cash, an exit scam seems so much like the logical next step. But even if EOS was legit, who in their right mind wants to support a person like Brock Pierce?

    That's why I propose we all as a community, stand strong and BOYCOT this coin. You can NOT justify investing in this coin with the knowledge I just shared. And yes I know, Mr Pierce isn't the posterboy of EOS anymore, he brought too much negative publicity after the last week show bit of James Oliver. But somehow people STILL are investing in it, so once I again, this topic has to be brought up. If a coin, that was created by a KNOWN scammer AND child molester reaches the top 10 of a certain market, what does that say about the market? It's time to dump that shit, let it burn away so we don't ever have to speak about it again.

    EDIT:

    Here is the link to the documentary 'an open secret':

    https://vimeo.com/142444429

    I know those blinded by greed and already invested in EOS will probably not even watch this (important) documentary, but those who are still in doubt, go watch it.

    submitted by /u/Redac07
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    Philip DeFranco discusses Bitcoin and cryptocurrency while on Hot Ones. Currently the #1 trending video on YouTube.

    Posted: 05 Apr 2018 07:26 PM PDT

    CNBC jumped the gun a bit

    Posted: 05 Apr 2018 02:47 PM PDT

    ICOs Are 'Absolutely Not' All Fraudulent, Says SEC Chief

    Posted: 06 Apr 2018 01:25 AM PDT

    OmiseGo, Cosmos & Ethereum: Hard Spoon & Plasma to be released in 2018. Hard Spoon Explained.

    Posted: 05 Apr 2018 03:18 PM PDT

    $1.6 billion cryptocurrency exchange Coinbase is launching a venture fund

    Posted: 05 Apr 2018 02:53 PM PDT

    DJ Khaled may have just played himself - the ICO he and Floyd Mayweather endorsed is under criminal investigation...

    Posted: 05 Apr 2018 07:01 PM PDT

    Invest in crypto while greatly reducing your risk. 5 'traditional' publicly traded companies which are investing big in blockchain.

    Posted: 05 Apr 2018 09:58 PM PDT

    SEC Chairman Says ICOs Are Not All Fraudulent

    Posted: 06 Apr 2018 02:43 AM PDT

    Hacker bitPico Attacks the Lightning Network to Make it Better

    Posted: 05 Apr 2018 02:45 PM PDT

    4 Factors Contributing to the Current Bear Market

    Posted: 05 Apr 2018 07:00 PM PDT

    Please explain a complete noob how to get coinmarketcap prices and profit loss cells in google sheets

    Posted: 05 Apr 2018 11:31 PM PDT

    I tried many times but I keep failing.. I can get the data imported from coinmarketcap api as I have seen in a few youtube videos. Then i get 1 sheet tab filled with data but I just can't seem to figure out how I can enter a coin symbol like SHIP and then instantly get the price in another cell. And then make profit and loss %. Could someone explain this from the absolute beginning to me? Would be MUCH appreciated!!

    submitted by /u/zwiggelbig
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    TRON Founder Justin Sun Graduates Hupan University, Forges Ahead

    Posted: 05 Apr 2018 08:33 PM PDT

    Japan's cryptocurrency exchanges face shortage of engineers

    Posted: 05 Apr 2018 08:07 PM PDT

    Cryptocurrency Demand is So Strong That Japan Can't Find Coders

    Posted: 06 Apr 2018 02:49 AM PDT

    Enterprises Have Concerns About Blockchain. Lamden Responds

    Posted: 05 Apr 2018 06:21 AM PDT

    Good news is while the price may be tanking, public awareness and interest has never been higher. This ad shows up in my morning paper almost daily.

    Posted: 05 Apr 2018 07:13 AM PDT

    Coinbase adding support for Bitcoin Forks!

    Posted: 05 Apr 2018 02:01 PM PDT

    Nick Szabo defined the basic concepts of blockchain 14 years before its release

    Posted: 05 Apr 2018 06:30 AM PDT

    Japan Proposes Guidelines to Legalize ICOs

    Posted: 05 Apr 2018 01:20 PM PDT
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