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    Cryptocurrency Daily Discussion Megathread - January 3, 2019

    January 03, 2019

    Cryptocurrency Daily Discussion Megathread - January 3, 2019

    Daily Discussion Megathread - January 3, 2019

    Posted: 02 Jan 2019 09:45 PM PST

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

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    submitted by /u/CryptoCurrencyMod
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    Jordan B. Peterson uploads entire video library to BitTube after his daughter gets striked on Youtube

    Posted: 02 Jan 2019 11:46 AM PST

    Ethereum Plans to Cut Its Absurd Energy Consumption by 99 Percent

    Posted: 02 Jan 2019 05:58 PM PST

    No Such Thing As A Crypto Expert

    Posted: 02 Jan 2019 08:58 PM PST

    Warning: Bitcoin Cash ABC is now completely centralised with one pool BTC.top mining 50% of all blocks

    Posted: 03 Jan 2019 12:58 AM PST

    JM Bullion accepts Bitcoin for precious metals. Just a heads up.

    Posted: 02 Jan 2019 11:48 AM PST

    BCH outed as scam in the Canadian Parliament [Audio]

    Posted: 02 Jan 2019 11:51 PM PST

    Withdrew all my tokens/coins from exchanges and realized the biggest problem for mass adoption

    Posted: 02 Jan 2019 01:28 PM PST

    Today, to honor proof of keys, I finally did to my shitcoins what I did to my BTC, ETH and LTC when I got my Ledger Nano S. I withdrew all of them from the exchanges. And this made me once again realize what is the biggest problem for cryptocurrencies at the moment, if you consider mass adoption.

    And please: Think of masses, not us the crypto early adopters when you read on. I know we can handle the issues, but broaden your view to masses now:

    The biggest problem is that even storing and transferring your crypto is unnerving. And by unnerving I mean that when you transfer crypto you always have the feeling in the back of your head that "is this address really correct?". And the higher the amount and value is, the more you check. And you might be checking the addresses many times. And on top of that you might be still sending a smaller amount first. I have gotten used to it with Bitcoin, but with new systems that I had to install on my computer to store shitcoins on either on my ledger or on my computer I did this. Make sure the addresses are correct a few times and then send first small amount. When that arrived, then I moved the rest. I have not yet found a system, exchange or wallet that makes this feeling vanish. I find this one of the biggest obstacles that you can send your coins/tokens to an non-existing address or to wrong address and never see your funds again. And the problem is huge if you think mass adoption.

    Think of it this way: How many times have you given tech support on the simplest things to your parents? Your grandparents? While giving this support, how many times even simplest things like "send me the picture in a message" have resulted in a question "I don't know how"? How many times you have been changing settings on someone's phone because "I don't know what I did, but it <insert problem here>"

    Then think about crypto. How do you think your parents would react to a warning: "Make sure you send your funds to a correct address, which is 25 or so random characters long or your funds are never to be seen again." I would like to see the face of a such parent when they realize that if they give a wrong address or miss click saved address and sends the rent money there, the money is gone.

    This really needs to change.

    The second issue is closely related to the first and it is usability. You should be able to, if you wanted, to eg. link your BTC address to your name, social security number, address etc. And the network should be able to reject the transaction if these information was not correct if required by the address owner.

    Imagine if the network would be able to return the transaction to you if the identification failed. Think how much more confident you would be that if you would send BTC to eg. exchange address and you could give additional info for the transaction (eg. Exchange name, your account name, single use password) in addition to the BTC address and the amount. And if any of those information would be incorrect, you would fail the transaction.

    Even it is admirable to have an seemingly anonymous (BTC can be traced as we have seen) system, it really makes the usage many times harder.

    And all of this should be as simple as the phone software that I now have on my phone that let's me send euros to my friends with just their phone number.

    If we want mass adoption, we should tend to these issues too, not just new technologies, network speed or capacity.

    ​

    submitted by /u/Porriz
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    A digital exchange opening next week will enable investors to trade in companies including Apple Inc., Facebook Inc and Tesla Inc. outside of the U.S. even when the stock markets are closed.

    Posted: 03 Jan 2019 02:02 AM PST

    Unlike ICOs, which issue Utility Tokens to the customer, STOs provide what is called a Security Token. Here are the law and KYC surrounding STOs.

    Posted: 03 Jan 2019 01:19 AM PST

    2018 has been a tough year while most of the major cryptocurrencies swam in a sea of red, However, blockchain development keeps evolving. According to OpenSea, every day there are 3 new companies launching on ERC-721 with new products.

    Posted: 03 Jan 2019 02:36 AM PST

    Companies began to charge ridiculously high prices for market data API, challenging new unfunded projects to scale. Market price data should be for free and open to anyone. As an answer, CoinPaprika released their new API, offering more than 25 million calls per month at no cost.

    Posted: 03 Jan 2019 02:10 AM PST

    Enterprises Which Are implementing Blockchain Technology - Who will be the biggest? My bet is Samsung.

    Posted: 03 Jan 2019 01:26 AM PST

    dash scam continues with mostly fake volume on exchanges

    Posted: 02 Jan 2019 02:34 PM PST

    in this post, we see how the dash scam evolves with most of the exchange volume being blatantly wash traded and fake.

    this is the cmc market tab for dash: https://coinmarketcap.com/currencies/dash/#markets

    excluding the pairs which even cmc identifies as scam/wash-traded (the ones which have *), the rest of them are all exchanges that are unheard of.

    Exrates $15m
    ZB.COM $9.5m
    LBANKDASH/USDT $9.11m
    P2PB2BDASH/ETH $4.9m
    BitForex $3.9m
    YoBit $3.6m

    now there was a study done recently by the blockchain transparency institute:

    original study : https://www.blockchaintransparency.org/exchangerankings/

    report: https://www.crowdfundinsider.com/2018/11/141074-report-wash-trading-lack-of-transparency-is-a-pressing-problem-for-crypto-exchanges-bogus-volume-is-rampant/

    table: https://dove-alpaca-w28n.squarespace.com/trading-advisory-list

    just go through the study and the lists, and you will find that each of the top exchanges where dash has volume is specifically called out for wash trading and fudging volume stats.

    The largest offenders in the top 10 include ZB exchange which appears to be wash trading their volume to over 390x as well as Lbank to over a whopping 4400x.

    ZB.com is accused of showing 390x fake volume;
    Lbank accused of showin 4400x fake volume.
    Exrates is accused of having 96% fake volume (see "report" linked above)

    you can also just google most of those exchange names to see what kind of scams they are.

    considering on chain transactions, dash is among the least used blockchains, even though it has been around for years now from 2014 when it was instamined, and the scam has been ongoing since then.

    dash has a ponzi like structure where 10% of the block rewards go back to the developers, who then use that to pay for these shady exchange scam volume, to create an illusion of legitimacy, which in turns brings in new users who by seeing the volume think it is legit.

    always check actual blockchain usage, not exchange volume stats that are highly manipulated in this market.

    https://bitinfocharts.com/comparison/dash-transactions.html

    onchain, dash has fewer than 7500 transactions on an average. that puts it below bch, below litecoin, below dogecoin and ethereum classic in terms of actual usage. you can compare actual usage on blocktivity

    evidently, it is hardly adopted anywhere with such abysmal usage.

    yet dash pretends to have massive exchange volume, most of which is fake.

    its proving to be a rewarding tactic for scam coin promoters to fudge exchange volume so that people who are not aware of these things end up buying these worthless scam coins.

    some of the clues in spotting such scams include large volume on exchanges that does not add up with actual usage of the blockchain, huge percentage of mining rewards going back to the founders (the blockchain ponzi scheme).

    unless the market purges itself of such scams, its hard to gain any kind of legitimacy as an asset class.

    submitted by /u/amorazputin
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    Hacker Group Steals Documents Relating to 9/11, Demands Ransom in Bitcoin

    Posted: 02 Jan 2019 09:35 AM PST

    French Crypto Startup Disappears after Failed ICO, Leaves Unanswered Questions

    Posted: 03 Jan 2019 03:51 AM PST

    Will 2019 be the year of STOs?

    Posted: 03 Jan 2019 12:23 AM PST

    DX Exchange launching next week will be tokenising US equities like Tesla, Facebook and Apple.

    Posted: 03 Jan 2019 03:04 AM PST

    When this post is three hours old, Mimblewimble will go live after 2.5 years of waiting

    Posted: 03 Jan 2019 02:54 AM PST

    This is dope. An mysterious Satoshi-like figure dropped the whitepaper in Aug 2016, and we've been waiting for an actual coin this long. The proposal has had tons of due diligence

    You can watch the genesis block being mined at https://t4.explorer.beam.mw/blocks . Rules are that you do a shot at the genesis block, then every time a block ends in 23, 42, or 47

    submitted by /u/Scandalknivery
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    ��Happy 10th birthday bitcoin!��

    Posted: 02 Jan 2019 04:00 PM PST

    Winners of the Perfect Brainstorm Contest by IOTA

    Posted: 02 Jan 2019 07:56 AM PST

    How useful will Blockchain Analytics be in 2019 and beyond?

    Posted: 02 Jan 2019 10:22 PM PST

    We all knew that the Blockchain has been fairy transparent in the past with authorities and analytics companies being able to track origins and destinations of transactions fairly well.

    As the Tech is advancing, so is the privacy, with tools such as Coin Mixing / Tumblers becoming more readily available and DEXs starting to incorporate privacy layers such as zk-snarks starting to enter the space.

    I am sure we are going to see more technologies that will keep trading activity private, so how useful / accurate will Blockchain analytic platforms become? and with increased privacy, will this have a negative effect on the authorities and it's adoption?

    submitted by /u/mystrobelights
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    Community Creative Showcase Thread - This man uses coloured rice to draw out the logo of a Crypto project. What creative content / Art have you seen people do in the name of blockchain?

    Posted: 02 Jan 2019 09:16 PM PST

    .@novogratz is putting more of his money where his mouth is when it comes to cryptocurrencies

    Posted: 02 Jan 2019 09:51 AM PST

    Novogratz Buys Another 2.7% of His Galaxy Digital Crypto Fund for $5 Million - CoinDesk

    Posted: 02 Jan 2019 12:10 PM PST
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