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    Home Unlabelled Cryptocurrency Weekly Skeptics Discussion - May 27, 2018 | This month's Pro & Con Contest topics: Bitcoin, BitcoinCash, and Litecoin.

    Cryptocurrency Weekly Skeptics Discussion - May 27, 2018 | This month's Pro & Con Contest topics: Bitcoin, BitcoinCash, and Litecoin.

    May 28, 2018

    Cryptocurrency Weekly Skeptics Discussion - May 27, 2018 | This month's Pro & Con Contest topics: Bitcoin, BitcoinCash, and Litecoin.

    Weekly Skeptics Discussion - May 27, 2018 | This month's Pro & Con Contest topics: Bitcoin, BitcoinCash, and Litecoin.

    Posted: 27 May 2018 10:50 AM PDT

    Welcome to the Weekly Skeptics Discussion thread. The goal of this thread is to promote critical discussion by challenging conventional beliefs and bringing people out of their comfort zones. It will be posted and stickied every Sunday. Due to the 2 post sticky limit, this thread will not be permanently stickied like the Daily Discussion thread. It will often be taken down to make room for important announcements or news.

    To see the latest Daily Discussion Megathread, click here

    To see the latest Weekly Support thread, click here

    Rules:

    • All sub rules apply in this thread.

    • Discussion topics must be on topic, ie only related to critical discussion about cryptocurrency. Shilling or promotional top-level comments will be removed. For example, giving the current composition of your portfolio, asking for financial adivce, or stating you sold X coin for Y coin(shilling), will be removed.

    • Karma and age requirements are in effect here.

    Guidelines:

    • Share any uncertainties, shortcomings, concerns, etc you have about crypto related projects.

    • Refer topics such as price, gossip, events, etc to the Daily Discussion Megathread.

    • Please report promotional top-level comments or shilling.

    • Consider changing your comment sorting around to find more criticial discussion. Sorting by controversial might be a good choice.

    • Share links to any high-quality critical content posted in the past week. To help with this, try searching through the Critical Discussion search listing.

    Resources and Tools:

    • Click the RES subscribe button below if you would like to be notified when comments are posted.

    • [NEW] Consider participating in Pro&Con contests. These contests will be stickied inside the comment section of the Skeptics Discussion thread no later than mid-day every Sunday(hopefully). Since it is a pilot project, the durations could last one week to several weeks and the rules may change as the project evolves. See the contest comment for more details when it is posted.

    Thank you in advance for your participation.

    submitted by /u/CryptoCurrencyMod
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    Daily Discussion Megathread - May 28, 2018

    Posted: 27 May 2018 11:59 PM PDT

    Welcome to the Daily Discussion Megathread. Please read the disclaimer, guidelines, and rules before participating.

    To see the latest Weekly Skeptics thread, click here

    To see the latest Weekly Support thread, click here

    Disclaimer:

    Though karma rules still apply, moderation is less stringent on this thread than on the rest of the sub. Therefore, consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. 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.

    Rules:

    • All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect.

    • Discussion topics must be related to cryptocurrency.

    • Comments will be sorted by newest first.

    Guidelines:

    • Questions, debates, meta issues, etc are all welcome.

    • Breaking news should be posted separately from this thread.

    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/CryptoCurrencyMod
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    I wanted to make some artwork that featured the Ethereum logo hidden within earthly fixtures/structures. I'm really excited to share this with you all. I present, Ethereum 'Abstractions'

    Posted: 27 May 2018 05:51 PM PDT

    Verge gets 51% attacked so hard that they steal SHIELD's code and lie about it

    Posted: 27 May 2018 06:48 PM PDT

    Official launch of our new redesigned Coinance website www.coinance.app - Check it out and send us feedback!

    Posted: 28 May 2018 12:53 AM PDT

    It's not an issue with cryptocurrency; it's an issue with its community.

    Posted: 27 May 2018 09:06 PM PDT

    Something's definitely wrong in this space, but it's not a problem with Crypto. Crypto is what it is and doesn't claim to be more than than that. The problem lies with the people who are the first investors in a new technology. You, your friends. Me. But we are also the hope for something greater.

    Why might you ask? Well, let's look at the truth here.

    • This whole market is basically young people trying to get rich quick.
      Why doesn't that work? Well, it's unrealistic and unachievable with out a lot of luck and it destroys the markets chance at organic growth. I here the words spouted every day around here: "I'll look to cash out at the end of the year." Or at best it might be a few years. This is a huge problem, because now the market has suddenly gone from an investment market (early adopters had nothing to believe in except an idea and a long term outlook) backed by an amazing technology to a get rich quick scheme. Once again, unhealthy and totally unrealistic and actually unsafe for new players in the game. And yes, right now this is a game.
    • This whole thing is treated like some appstore drug dealing game. Not an investment.
      This isn't buying crack and slinging it for a ten percent profit for some virtual dollars. This is real money with real implications. Right now the ones controlling the market are the big day traders doing exactly the above. Taking their ten percent and walking away. Right now with very little liquidity in the market it is easy for big players to push prices and take profits. For the lamen people in this game you have two options... play the same game, without the capital, or be PATIENT and let the market evolve and come to you.
    • Life can be measured in seconds or days, but it can also be measured in years.
      The market lead by us young people is one of impatience. Our smartphone lives have lead us into a new age. An age where nearly everything can be had, when we want it, basically instantly. And that's just life and the way things have evolved, but markets are not driven by instant success. The most profitable people in crypto (in the new world) are the ones that have been the most patient, the ones who fought through crashes in the market and continue to use a level head and see things from a perspective in years and not in days, weeks, or months. HODL isn't about holding for a year. It's about holding for years. I'm not saying don't take profits at levels you're happy with, but think of the longer term and the potential implications of crytocurrency on a global scale.
    • The bear market DOES have an end.
      Financial markets have had major turbulence over the years. The closest comparison we can make in crypto is the stock market. The stock market has also seen it's ups and downs over it's years, and just like now in crypto, doom and gloom set in, people panicked and sold and someone bought. Each and every time the people in history who bought in the bad times and into good stocks have made solid investments and sound decisions. The people who lost are the ones who saw no end in sight and wanted to take what they had left and walk away. Remember, human's have survived by fighting through tough times and we will fight through more tough times ahead, and come out the other-side with more prosperity than before. That will happen until it doesn't and then it really doesn't matter, because everyone is as poor as the next person.
    • We are the visionaries.
      As much as we young people might be short sighted in our perspectives, we are also longsighted in our passion for a better world with more opportunity for everyone. It makes me proud to see a community so dedicated to decentralisation and financial freedom. We might not be out walking the streets protesting against corruption, but we are here, investing into a technology that does the protesting for us. We are the first people in modern history to step in a new direction where value and money are controlled by the masses and not subject to the decisions made by one person, be it a president, prime minister or an oil executive. This is a new world we are forging. And new worlds are not easy to craft. It will take time and we will all be rewarded if we succeed in doing what we aim to do. Both financially and holistically. We are brave. We are putting our money where our mouth is. It sure costs a lot more to do what we're doing than it does to wave a piece of cardboard around and yell out catchy phrases. We are the ones investing in a new world, prepared to lose or win, a modern war without the blood. And I recon that's pretty neat.
    submitted by /u/HaramDingo
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    Verge developer Justin Sunerok copies a commit from another coin, claims it is his and that the other coin copied it from him. Classy!

    Posted: 27 May 2018 10:55 AM PDT

    According to Credit they’re airdropping ... PRL?! Copy/paste gone wrong.

    Posted: 27 May 2018 09:40 PM PDT

    Eos causing this dump.

    Posted: 28 May 2018 01:10 AM PDT

    State of Ethereum Classic

    Posted: 27 May 2018 06:27 PM PDT

    Exciting week ahead: TRON, PRL, NULS and EOS mainnet launches and don't forget IOTAs Qubic release at 3. of June!

    Posted: 27 May 2018 10:28 PM PDT

    Frank Abognale (FBI): "[Blockchain] is an incredible technology and will eventually be adopted by all banks, governments, and corportations"

    Posted: 27 May 2018 03:23 PM PDT

    Using my crypto to pay for education/online courses could be great, especially in a bearish market that all that I do is F5 CMC. a Blockchain company is making it easier to get educated online.

    Posted: 27 May 2018 11:44 PM PDT

    I heard memes are back, here is one to cheer you up. Try to stay happy and remember, these days will past.

    Posted: 27 May 2018 05:18 PM PDT

    Let's face it, People are not always choosing their crypto investments wisely. Capitalise goal is to create a free tool that may help traders to make the right decisions about the market and optimize their Strategic trading plan.

    Posted: 27 May 2018 11:52 PM PDT

    Is most volume on exchanges fake? Probably.

    Posted: 27 May 2018 09:17 AM PDT

    Two months ago, Sylvain Ribes wrote a rather interesting article, and presented the results of his research on fake volumes on exchanges: https://medium.com/@sylvainartplayribes/chasing-fake-volume-a-crypto-plague-ea1a3c1e0b5e His finding was rather disturbing. "By my reckoning, over $3 billion dollars of daily volume is nonexistent. Possibly more," he wrote.

    The charts in the article are quite alarming, and makes one wonder the true magnitude of fabricated volume on all exchanges. Is it half of all volume? Is it 70 percent? Or is it even more?

    I will not answer this question, but instead take you somewhere to see fake volume with your own eyes: TopBTC, an exchange that lists "specialty coins." Examine trades on any pair on that exchange, and you will notice fake transactions quite quickly.

    Take the ETH-OMG pair... At the time of writing, the highest bid was at 0.01685, and the lowest ask at 0.02050: http://topbtc.com/home/Market/index/market/ETH/coin/OMG.html This is a somewhat large margin, as is common in smaller exchanges, but what is interesting is that some random trade takes place on this pair (as well as most, if not all other pairs) every three minutes in average.

    Here is how it goes: the bot will enter, say an ask of .01809, and then it will go ahead and "buy" it in less than two or three seconds. None of the actual users will get a chance to complete the transaction that quickly, so the trade will conclude as intended, and the volume will increase. About three minutes later, a similar bid or ask will be placed, and will again be fulfilled almost instantly. The highest bid and the lowest ask amounts will often stay there for hours, as there are few people participating in that market, but exchange bots will be inflating the volume with fake transactions every three minutes in average.

    Sometimes things get even more interesting... As I happened to notice a moment ago by random chance, asks and bids are randomly being placed and removed on the ETH-KWH pair on the same exchange every single second. It turns out that it was a code glitch! Someone entered an order and closed the gap between the lowest ask (0.00003900) and the highest bid (0.00003899). Not finding any room to place a fake order, the bot started to place them in other places, and still fulfilled them! If you read this within the hour of publication, you can view the list of past trades indicating figures that are OUTSIDE of the highest bid-lowest ask margin: http://topbtc.com/home/market/index/market/ETH/coin/KWH.html I suggest you take a screen snapshot!

    This is serious, and this is something for all cryptocurrency investors to think about. The volume of a coin is the primary indicator of its popularity, yet exchanges ruin this measure for everyone, and lead them to make investment decisions on false information. BEZOP, for example, celebrated achieving one million dollars of daily volume with a tweet five hours ago: https://twitter.com/BezopNetwork/status/1000703020303298562 Guess what exchange it is on!

    submitted by /u/HotDouble
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    VeChain Partners With Lingang International Manufacturing Exhibition Trading Center

    Posted: 27 May 2018 08:45 AM PDT

    NASDAQ looking at these three coins

    Posted: 27 May 2018 11:45 PM PDT

    South Korea to ease trading regulations

    Posted: 27 May 2018 10:01 PM PDT

    I think, for all the confused newbies, this deserves its own post

    Posted: 27 May 2018 08:48 AM PDT

    https://twitter.com/lopp/status/1000745224698810368

    Edit---> For even more clarity:

    • BTC=Bitcoin
    • BCH=Bcash (Altcoin named "Bitcoin" Cash but it's NOT Bitcoin)
    submitted by /u/Jumpingcords
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    Pundi X $NPXS community helps win Bit Z listing vote

    Posted: 27 May 2018 08:54 PM PDT

    German Stock Exchange Wants to Launch Bitcoin Products

    Posted: 28 May 2018 02:28 AM PDT

    CPChain released Community Update 4.0: new partnerships, exchanges and developments

    Posted: 27 May 2018 11:26 PM PDT

    Why Crypto Market continues Crashing? What to Expect next?

    Posted: 27 May 2018 11:32 AM PDT

    US Giant Transport Joins the Blockchain in Transport Alliance

    Posted: 27 May 2018 08:32 PM PDT

    So, Cryptopia litterally just threw out all these coins without any warning?!

    Posted: 27 May 2018 11:25 PM PDT

    So I received the following mail, and it scares me no one else yet on this subreddit has noticed this before:

    "Dear Cryptopians,

    You are receiving this automated email because we have identified that you have a balance or deposit address for one or more of the following coins.

    Cryptopia is registered as a Financial Service Provider in New Zealand. This registration only allows us to list coins that are not 'Financial Products' on our exchange. The concept of a "Financial Product" under New Zealand law is similar (but not identical) to that of a 'Security' under US law (and equivalent definitions in other jurisdictions).

    We continually review and update our operations to ensure we remain compliant with our legal obligations. Cryptopia is committed to ensuring we are compliant so we can remain a responsible company both under New Zealand law and in order to meet our own ethical standards.

    As a part of ensuring that we remain compliant, and on the basis that we are not permitted to list financial products, we must delist all coins that are, or are likely to be, financial products according to New Zealand law.

    The coins set out below have all been put into delisting:

    Aureus (AURS)

    Bitradio (BRO)

    ChronosCoin (CRX)

    DCORP (DRP)

    DDF (DDF)

    DecentBet (DBET)

    LFTCCoin (LFTC) *

    ProudMoney (PROUD)

    OX Fina (OX)

    21Million (21M)

    BitcoinDark (BTCD)

    BlockOptions (BOP)

    Bonpay (BON)

    NeuroDAO (NDAO)

    CrowdCoin (CRC)

    DigiPulse (DGPT)

    DRP Utility (DRPU)

    EncryptoTel (ETT)

    Futereum X (FUTX)

    HomeblockCoin (HBC)

    InterstellarHoldings (HOLD)

    Lithiumcoin (LIT)

    MatrixCoin (MATRX)

    PlexCoin (PLX)

    TenX (PAY)

    *These coins currently have 0 connections, and there is likely to be issues withdrawing funds. This is beyond the control of Cryptopia, and needs to be followed up with the coin developers.

    We wish to notify our users of the following process:

    As of today (28/05/2018) the markets for trading these coins on Cryptopia are closed.

    To ensure your holdings are off the exchange before the coins are removed, please close any open orders and withdraw your coins from the exchange immediately.

    These coins will be fully delisted and removed from the Cryptopia site one month from today (last day on the exchange being 28/06/2018).

    Whilst this may cause some inconvenience, these coins are being delisted to ensure we remain compliant under New Zealand law.

    It is possible we may delist further coins that we consider may be financial products in future.

    Kind regards The Cryptopia Team"

    is this a scam, or is this for real?

    

    submitted by /u/Opblaasgeit
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    I used to beat myself for the fact I sold early, now I've come to term with it

    Posted: 27 May 2018 07:07 PM PDT

    when you're a high school or college student, sometimes that 50$ or 100$ could be a life changer, something that will pick you from poverty again, or save for a couple of weeks.

    so I think blaming myself for selling my bitcoins because I was unsure, broke and hungry doesn't seem right.

    I kept blaming myself for the fact that if I held to them for more 4 or 5 years, I could be in a much better situation.

    but not everyone has extra cash laying around not being used to take such investments

    submitted by /u/assassinateur
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