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    Cryptocurrency Daily Discussion Megathread - May 1, 2018

    May 01, 2018

    Cryptocurrency Daily Discussion Megathread - May 1, 2018

    Daily Discussion Megathread - May 1, 2018

    Posted: 30 Apr 2018 11:15 PM PDT

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    Crypto market in a nutshell

    Posted: 30 Apr 2018 02:56 PM PDT

    EOS: Don't Believe The Hype

    Posted: 01 May 2018 02:31 AM PDT

    Sharding is coming. - Vitalik Buterin

    Posted: 30 Apr 2018 11:33 AM PDT

    The Banks Are Coming! "Morgan Stanley Wants To Beat Goldman Sachs To Crypto Trading Riches"

    Posted: 30 Apr 2018 11:22 AM PDT

    Apex (CPX) partners with one of the largest government backed big data platforms in China (Shanghai Data Exchange)

    Posted: 01 May 2018 02:15 AM PDT

    An analysis on EOS decentralization

    Posted: 01 May 2018 02:08 AM PDT

    With all the excitement surrounding EOS launch in June and with all the controversy surrounding its decentralization, I wanted to share some thoughts and hopefully not get downvoted to oblivion.

     

    Ethereum for the moment is the leading platform for smart contracts, it has around 20M users, it has become widely adopted and with all this adoption people are arguing that it is too late for another smart contract platform to catch up.

     

    "Ethereum bulls commonly argue that it's too late for any other smart contract platform to catch up; that Ethereum's network effects, developer community, brand, and ecosystem integrations are so ingrained, and accelerating so quickly, that another platform cannot possibly catch up." - @kylesamani

     

    Even though Ethereum is the leading platform for smart contract, it has its limitations of scalability. EOS is a blockchain and smart contract platform with a focus on speed, scalability, and user experience. EOS uses delegated proof of stake (DPoS) and a "token ownership as bandwidth" model to achieve high throughput and zero transaction fees. So basically, Ethereum has prioritized decentralization at the expense of scalability, whereas EOS has prioritized scalability at the expense of decentralization.

     

    The decentralization maximalists do not accept EOS as decentralized platform because it is not sovereign-grade censorship resistant, sovereign grade censorship resistance means that the system must be designed to withstand direct attack from powerful, sovereign entities and governments. Not every decentralized application requires the same throughput, security guarantees, level of decentralization, programming language, expressivity, privacy, latency, or consensus structure. Different use cases have different requirements, and developers will choose to build on the platforms that most effectively support their goals. EOS recognizes that for global scale dApps, having each and every transaction validated by a large network of consumer-grade computers all over the globe is both unrealistic and unnecessary. So EOS has settled for platform-grade censorship resistance, simply means that there is no single platform operator who can censor one's use of the system.

     

    Now let me state some facts about sovereign-grade censorship resistant decentralized platforms such as Bitcoin and Ethereum. 90% of the mining power is controlled by 16 entities in Bitcoin and 11 in Ethereum. 51% of the mining power is controlled by 4 entities in Bitcoin and 3 in Ethereum. If you look at the big picture a complicated quorum system with 21 nodes is more decentralized than having these entities with a huge amount of power where one shutting down the network would be severely throttled for weeks.

     

    It all boils down to 21 Block producers vs a few Mining pools creating blocks in Ethereum & Bitcoin: In Bitcoin & Ethereum you contribute hashrate to mining pools. In EOS you vote for block producers with your coins.

     

    https://imgur.com/a/RkVC47q

    https://imgur.com/a/x8w3cbO

     

    Articles referenced(DYOR) :

     

    https://github.com/EOSIO/Documentation/blob/master/TechnicalWhitePaper.md

    https://multicoin.capital/2018/04/24/eos-analysis-and-valuation/

    https://www.forbes.com/sites/ksamani/2018/04/25/the-bull-and-bear-cases-for-eos/2/#4d43be0f276e

    https://hackernoon.com/romance-of-the-21-eos-kingdoms-459ca5bf2b9e

    submitted by /u/cryptoashe
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    COSS.IO Fiat Release

    Posted: 30 Apr 2018 11:41 PM PDT

    Just a reminder to the newcomers: coin vs. token

    Posted: 30 Apr 2018 03:43 PM PDT

    This is the true list of the top cryptocurrency coins. If a project is not on that list, then it is a token. Tokens are essentially kickstarter projects created on an existing blockchain's platform. The most common form of tokenization is the creation of an ERC-20 token on Ethereum's blockchain platform.

    Some companies do not need to crowdfund, and simply use tokenization as a component of their project's ecosystem (eg, Binance Coin). Generally, however, tokenization is a strategy that is used by startup companies as a form of crowdfunding. Many of these startups are aiming to develop their own blockchain platforms and, as such, are using tokenization to raise money in order to hire developers to help them create this technology with them, or for them. In the latter situation, tokenization is used to crowdfund so that the founders can acquire the resources necessary to help them deliver on the promises that they made in their whitepapers.

    On the other hand, if you invest in a coin, either you are investing in a project that copy and pasted another coin's code and developed a "new" blockchain that is nearly identical to an existing coin's blockchain (eg, Litecoin is essentially identical to Bitcoin), or you are investing in a project that is building a novel blockchain platform from the ground up, but had the coding skills and resources to do it without having to crowdfund using tokenization (eg, Bitcoin, Ethereum, Ripple, Cardano, Stellar, Litecoin, IOTA, NEO, Monero).

    You probably realize by now that, on this subreddit, you see a lot more "announcements", "updates" and "news" about tokens. The reason being that tokens need to market in order to achieve their goal (raising money).

    If you invest in a coin, you are investing in an existing platform with a working product. The existence of the coin itself is a testament to their novel (or copied) blockchain being functional. The product may be incomplete, and the team may be working on adding more functions to their platform as their roadmap comes to fruition, but the fact that they have a coin that does not require another project's technology to function means that they do indeed have their own working blockchain platform.

    If you invest in a token, you are investing in the promises stated in its whitepaper. Although they may announce that their TestNet/MainNet will launch on a particular date, there is no guarantee that it will actually work. As long as a project is tokenized, the team is not using their own technology.

    submitted by /u/abl8ed
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    Hong Kong Report Suggests Cryptocurrency Is Largely Left Out Of City’s Organized Crime

    Posted: 30 Apr 2018 11:06 PM PDT

    Argentina installing 4K crypto atm’s

    Posted: 01 May 2018 12:15 AM PDT

    Dear Mr. Buffet

    Posted: 30 Apr 2018 06:38 PM PDT

    Dear Mr. Buffet,

    I hope this message finds you well.

    If there's one thing corporate america is unsure of, it's what to do with millennials, the largest generation in the US labor force. Perhaps, the world labor force?

    While your date of birth was in 1930, Millennials are turning 30 and rising up as the next generation of leaders for the next 30 years.

    Cryptocurrency is speculative, but for how long? And is it less speculative now than it was in 2014? Speculation is defined as theory without firm evidence. Knowing this, I'm left to assume a lot of investments are speculative. A consumer or business loan at a bank might be speculative. The bank determines one's ability to repay monthly debt based on current circumstances. What happens if one loses their job? Goes out of business? The market crashes? A loan might then be a speculative investment to the person receiving the money. Perhaps, a bank has strong strategies in place to cover themselves in the event of default. Perhaps, they even budget each year for losses. But I wonder more about the person who applied for the loan? Was this a speculative investment on their end? And if so, should they not apply for a loan?

    To some, Bitcoin is a get rich fast. I've seen this mentality crash and burn.

    For others, including major institutions, Bitcoin is the future. And there is still plenty of room to grow while a lot of information is yet to be learned. Some have lost money, yet Bitcoin is still here. We have new investors and existing investors adding to their portfolio. We have people who have even taken losses, back. And we have the ones who have held through the volatility. If these ones held longer than 9 months to date on one of the top 100 crypto currencies, they should be in profit.

    One basic piece of consideration while speculating on this digital currency is that it's not backed by the federal government. My understanding is the US dollar is backed by a federal note. So, then comes trust or "good faith."

    Why should Millennials trust the government acting in good faith? Snowden shared infamously and famously with the public that our data is not private. The SEC has been breached with our information, a credit reporting agency was hacked with our information we provided to the banks. Wells Fargo and more like them generated revenue at the expense of the consumer's best interest. The banks put us in a recession in 2008. Bitcoin was created shortly after this crash. Trust is defined as the firm belief of the strength or reliability in something or someone.

    My generation is tired of deceit from the corporate world and we do not want to put our financial freedom in the hands of this 'speculation' any longer.

    A lot of money is made through transferring money in a banks system, yet we now have the technology to minimize multiple hands at play, to control our own money. To be able to accept multiple payments as a business owner without paying the payment card industry 3% each time for the processing, Sure, this might hurt merchant companies, payroll companies, western union, bank fees, treasury management, but Millennials are less concerned about keeping these businesses in business. They are concerned about transparency, keeping data secure, and efficiency.

    The economy is going to have to adapt to the next generation of innovation and find a way to work with it not against it. If Bitcoin doesn't work better than our current way of doing things, something else will. At any rate, the consensus of Millennials, the next leaders of Millennials will have this say.

    My observation is that Millennials, above all, want their freedom. They are less concerned about hoarding money and more concerned about making a life. They are a defiant generation that's not afraid of breaking rules. Not afraid of expressing opinions. They are tired of politics and tired of making money for corporations at the expense of ones personal well being. They are determined to live a life of authenticity. They are determined to not work harder than required.

    Bitcoin can't be stopped. We know this. Whether it's a good investment or not depends on the Millennials, the next generation.

    Your legacy will live on as one of the most brilliant and well respected. Much of your investment strategy seems timeless; namely to know as much as possible about what you are investing in. Bitcoin aside, you've taught me a lot and I'm sincerely grateful.

    submitted by /u/Kayjay4
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    Hong Kong Authorities Sees No Danger in Cryptocurrency

    Posted: 30 Apr 2018 11:27 PM PDT

    ARK Ecosystem Announced ARK Core V2 Update

    Posted: 30 Apr 2018 01:09 PM PDT

    Morgan Stanley Is Racing Wall Street to Be First Into Crypto

    Posted: 30 Apr 2018 03:34 PM PDT

    UNICEF Is Mining Digital Currency As a Donation For Children

    Posted: 30 Apr 2018 07:46 PM PDT

    Nebulas coin swap announced - NAS ERC 20 tokens can be converted to native NAS mainnet coins

    Posted: 01 May 2018 02:02 AM PDT

    Holochain up 600% in 3 days. No#1 volume on IDEX. Holo doing a Raiblocks run?

    Posted: 01 May 2018 03:13 AM PDT

    Last week I found an absolute gem and told fellow redditors about the HoloChain ICO. I did this because I was excited about what I discovered! These guys already have a WORKING alpha that makes most blockchain projects obsolete! In trial tests it performed 10,000x more efficient than Ethereum! As expected, I was labelled a shill and most people probably ignored it, but for those who thought the project was great and invested, we are riding on 600% gains right now! IDEX has crashed multiple times as traders are throwing 200-300 gwei just to buy the token. The massive demand means we are likely to see HOT being listed on a major exchange in the near future. We may also be witnessing another Raiblocks run since the market cap of this project is still quiet low (under $200mill, when compared to Hashgraph, IOTA, NANO, etc).

    My original threads: https://www.reddit.com/r/CryptoCurrency/comments/8do28q/found_a_hidden_gem_holochain_this_is_my_next_ico/dxpit8j/ https://www.reddit.com/r/CryptoCurrency/comments/8fjifn/holochain_ico_just_finished_two_eth_genesis/

    submitted by /u/dbaker102194
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    Cryptodad will be retiring in 2019 :(

    Posted: 30 Apr 2018 02:09 PM PDT

    Liquidated 100% earlier this year. Taking delivery of this beauty next weekend! Bought the dip couple weeks ago at the exact same % minus etn. Time to let it ride ���� ��

    Posted: 30 Apr 2018 11:55 AM PDT

    Mastercard has filed for a patent to improve blockchain transaction speeds

    Posted: 30 Apr 2018 11:17 PM PDT

    The Enterprise Ethereum Alliance Will Release Blockchain Standards For Businesses in 2018

    Posted: 30 Apr 2018 04:02 PM PDT

    Japanese banking giant SBI will be a launching a massive Crypto Exchange this summer!

    Posted: 01 May 2018 03:16 AM PDT

    Mass adoption is coming: use cryptocurrency to pay for services and small jobs on Crypico

    Posted: 30 Apr 2018 04:51 AM PDT
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