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    Cryptocurrency Daily Discussion Megathread - July 4, 2018

    July 04, 2018

    Cryptocurrency Daily Discussion Megathread - July 4, 2018

    Daily Discussion Megathread - July 4, 2018

    Posted: 03 Jul 2018 11:18 PM PDT

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    submitted by /u/CryptoCurrencyMod
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    There will be an entire week of blockchain educational events in San Francisco October 5-12th

    Posted: 03 Jul 2018 11:47 PM PDT

    Monaco Announces Working VISA Cards!

    Posted: 04 Jul 2018 01:44 AM PDT

    Binance Security Update: ALL API Keys Are Reset

    Posted: 03 Jul 2018 07:35 PM PDT

    EOS caused the bear market

    Posted: 03 Jul 2018 01:32 PM PDT

    Convince me otherwise.

    EOS liquidated over 2M ether through Bitfinex over the last 6 months.

    Bitfinex has had consistently lower ETH/USD price than all other exchanges.

    Hmm is there any connection between EOS and Bitfinex?!?!

    ETH/BTC pair has been in a downtrend. EOS was probably selling ETH for BTC and then market selling BTC for more liquidity.

    Ask yourself, who has been the biggest seller in this bear market? Who markets themselves as the "Ethereum Killer" (even though their ico was on Ethereum)

    Who raised 4B in crypto and now has an empty EOS owner account?

    We all know that crypto/fiat pairs have 25x effect on the market buy or sell. Whose been cashing out that much eth?

    Is it a coincidence that now that the EOS owner address is empty the market recovers?

    Those EOS pieces of shit are all you need to look to to blame for the bear market. If you care about crypto at all you'll boycott EOS. They raised 4B dollars in Eth and they put out shit. Block.one already said they will not continue to develop eos. BPs are already forming cartels. It costs 14 dollars to create an account.

    Biggest scam and curse on crypto so far.

    submitted by /u/gfunksound
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    Funds are safe

    Posted: 03 Jul 2018 11:26 PM PDT

    In the United State, the location data market is estimated to grow from $8.2 billion in 2016 to $16.34 billion in 2021, but only 2-3 companies gonna enjoy that pie. Now a new player wanna join the party, and decentralized this industry.

    Posted: 04 Jul 2018 12:09 AM PDT

    Major Las Vegas venue adds aventus protocol

    Posted: 04 Jul 2018 03:02 AM PDT

    All trading and withdrawals on Binance frozen

    Posted: 03 Jul 2018 05:44 PM PDT

    If you open Binance right now, all trading has been suspended, and withdrawals are not occurring. The site in general is frozen. I am not completely sure if this has anything to do with what happened with syscoin and mana on binance.

    Interesting thing to note: Here is a tweet which sources to and talks about 7,000 BTC being moved out of the binance hot wallet before withdraws were suspended (could be a hack resulting in a large withdraw): https://twitter.com/CRNBTC/status/1014276328298774528

    https://www.blockchain.com/btc/address/1ACvw9bgr7iceLgqS1TSq1q1dfE3qSgvwv

    EDIT: CZ now just tweeted that it's for system maintenance. I'm personally pretty skeptical since there was no scheduling of system maintenance tweeted out or known before today, so the timing of this feels uncanny.

    EDIT: Security updates just performed: https://support.binance.com/hc/en-us/articles/360006669152

    Thoughts?

    submitted by /u/redpill_truths
    [link] [comments]

    Twitter should implement a system where replying users cannot have similar looking avatar or exact same name as the tweet's author.

    Posted: 04 Jul 2018 03:10 AM PDT

    Zero to Monero, complete deep guide for laymen and experts

    Posted: 03 Jul 2018 08:20 PM PDT

    Monaco cards are working!

    Posted: 04 Jul 2018 01:32 AM PDT

    The real reason why credit card issuers block crypto currency transactions

    Posted: 03 Jul 2018 08:22 PM PDT

    https://www.verisk.com/verisk-review/summer-2018/cryptocurrency-a-risk-too-far-for-credit-card-issuers/

    I want to clear up a common misconception in the community regarding credit card issuers blocking crypto currency transactions.

    There's a lot of stigma around that the banks are blocking crypto currency transactions on credit cards because they are scared of being replaced and are trying to control you.

    For the most part this is simply not true. Crypto currency is an extremely high risk cash equivalent transaction that has an increased likelyhood of default. For example, think about the swarms of people who bought crypto currency in December with credit cards who have lost 80% of their investment and now can't pay their loans back.

    By blocking crypto currency transactions the banks are forfeiting huge amounts of revenue that can be made from interchange (the small % fee that banks get paid per card transaction) on these transactions. It's not in their benefit to block these transactions, they are actually losing money up front by doing so.

    By blocking crypto currency transactions on credit cards the big bad banks are simply protecting themselves (and you) from a potential write off.

    This is not to say that ALL banks are acting with integrity. I have heard stories (unverified) of banks threatening to close deposit accounts etc, but this would be the exception not the norm.

    Please read the article in the link I have posted. Argus are a well known and respected analytical service and it offers some good insight into what I've just mentioned.

    Edit: copping a bit of heat as I expected so I'll put a disclaimer in here. Yes I work in finance, but I am also a crypto enthusiast and invester. I have nothing to gain from making this post, I'm simply trying to share some info that a lot of you may not have thought about. Take it as you will.

    submitted by /u/pumpedupkicks35
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    HitBTC keeping funds locked up after submission of verification documents, asking for social media accounts as proof of identity ??????

    Posted: 03 Jul 2018 12:34 PM PDT

    I have already provided HitBTC with their first request, which was a photo of myself and passport in front of an email from their security team. That was not good enough, so then they asked for a passport photo and proof of residency and EVEN MY BANK STATEMENT. I provided them with these docs to no avail. Now they request i prove the banca i bought was done under proper kyc/aml guidelines. No other exchange has asked for this, or asked for social media accounts or to loging without using a VPN. I provided them with screenshots from coinbase with tx ids to prove that i purchased btc woth fiat through my bank account legally. This STILL WAS NOT ENOUGH. They responded back with the same email asking i prove the banca i bought was legit. Problem is i have made thousands of trades since i bought those btc and to follow the trail would be nearly impossible.

    "Thank you for provided information.

    In accordance with the requirements of current anti-money laundering; proceeds of crime and counter terrorism financing legislation, we are required to establish and record evidence of the identity and source of funds for our clients.

    Therefore we kindly ask you to provide us with the origin of the following transactions:

    AmountCurrencyHash10004035banca0x441d8636a4a509f3c7847c421d075eb4283ff98d49a7cb20a6e8037e6c73083f10000000banca0x5c7fac8227b3eaf2dc5f5ae53ed5a0f44d6f92187a5be13bacf89b30a394cd505000000banca0x9b67615f660a3b6fe70dad781882435a044789e8bf437adf07c001bb56f5c47c For your convenience, the origin of funds report may be presented in a free form as a chain of events in chronological order, every step validated with blockchain explorer data, screenshots, and data used on other crypto infrastructure services, so that we would be able to contact them for verification, if needed.

    In addition, kindly update us with the data regarding your social networks presence, i.e. the links to your profile in major social networks.

    In order to speed up the ongoing identification process, we also kindly ask you to sign in to your HitBTC account with any network data disguising tools (VPN, proxy) deactivated.

    Regards, HitBTC Team​"

    Hitbtc, i have provided you with the necessary documents required to prove my identity. You have my funds hostage at this point and are extorting me for information in order to get access back. No other exchange asks for what you are asking for, you are alone in your extortion methods. I kindly ask you release my funds as the docs i have provided are more than sufficient enough to prove who I am.

    Ticket #306087

    submitted by /u/Allomancer_Jak
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    Sacramento Kings are mining cryptocurrency in their arena

    Posted: 03 Jul 2018 06:46 PM PDT

    1 Syscoin sold for 96BTC, SYS now investigating if there is a possible issue with their blockchain (note: no confirmed issues)

    Posted: 03 Jul 2018 02:21 PM PDT

    Binance's CZ AI goes to the core of the problem and ELIMINATES all misunderstanding. #SAFU

    Posted: 04 Jul 2018 03:30 AM PDT

    NEO to be Divisible as it Leads Market Rebound

    Posted: 03 Jul 2018 07:03 PM PDT

    Ethereum reaches its maximum valuation in 2 weeks before slide in price

    Posted: 03 Jul 2018 11:03 PM PDT

    We need more information on what happened on Binance

    Posted: 04 Jul 2018 03:29 AM PDT

    Binance incident recap causes more questions than answers in my opinion.

    First they claim they suspended trading in a timely manner. What? It was hours after whatever happened, happened.

    Also they claim it was trades from the API system. Ok could be. But strangely, unlike last time we have seen no one claim their accounts were emptied. So the API argument is either false or it was a small number of accounts that were compromised since no one went public with it.

    Since it was a small amount of accounts, jeez the hackers won the lottery. The initial buy order on SYS was for close to 17 thousand Bitcoins! They hacked the right people for sure.

    Also, these people already had BTC in their wallets, since also unlike last time we did not see across the board dumps (hackers selling alts for BTC then buying VIA to move funds to their account).

    All of this together make me skeptical about the compromised API explanation from Binance.

    Now, also this time we have what looks like around 7k BTCs being moved from Binance to a single account across 7 transfers that happened between 15 and 45 minutes after the SYS spike.

    https://www.blockchain.com/en/btc/address/1ACvw9bgr7iceLgqS1TSq1q1dfE3qSgvwv

    Interesting to note that unlike last time Binance does not claim that the hackers failed to get away with any money.

    Now, the most weird part to me is the "SAFU fund".

    Binance leaves it implicit that the hackers were able to steal some funds, while making it explicit it was the users fault. And yet the announce that they are gonna "give away" 10% of their revenue to pay back users in case of future events.

    For all the love CZ gets, he does not look like the kind of person to throw away 10% of his company REVENUE (not profit) because it's user base might be unable to keep their API keys safe in the future.

    Like I said, I don't know what happened but the incident recap made little to make me easy. If anything it created more questions than answers

    EDIT: correcting missing word

    submitted by /u/slevemcdiachel
    [link] [comments]

    OmiseGo managing director talking at TechCrunch 2018 Ethereum Meetup alongside CEO of Binance and CTO of Coinbase

    Posted: 04 Jul 2018 02:49 AM PDT

    Elastos Review and Key Takeaways From A Conversation with Elastos Chairman Rong Chen — Steemit

    Posted: 03 Jul 2018 10:39 PM PDT

    CNBC’s Brian Kelly Says Bullish News May Signal Bitcoin Price Rise

    Posted: 03 Jul 2018 04:17 PM PDT

    Cryptocurrency Exchange Theft on the Rise in 2018

    Posted: 04 Jul 2018 02:47 AM PDT

    Syscoin asks exchanges to halt trading due to possible issue with the blockchain

    Posted: 03 Jul 2018 02:39 PM PDT
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