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    Cryptocurrency Daily Discussion Megathread - January 31, 2019

    January 31, 2019

    Cryptocurrency Daily Discussion Megathread - January 31, 2019

    Daily Discussion Megathread - January 31, 2019

    Posted: 30 Jan 2019 09:40 PM PST

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

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    Thank you in advance for your participation. Enjoy!

    submitted by /u/CryptoCurrencyMod
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    Nasdaq Is Now Working With 7 Cryptocurrency Exchanges

    Posted: 30 Jan 2019 06:05 PM PST

    Blockchain In Gambling And Betting: Are There Real Advantages?

    Posted: 31 Jan 2019 01:41 AM PST

    R.I.P NEM Foundation - Message to the community

    Posted: 30 Jan 2019 10:36 PM PST

    Hard Forks and Soft Forks. What are they and what’s the difference?

    Posted: 30 Jan 2019 09:12 PM PST

    Can someone help me better understand bitcoin (and all alt coins) vs the blockchain?

    Posted: 30 Jan 2019 06:27 PM PST

    Hello all, I'm trying to educate myself over bitcoin protocol and the blockchain in general. I understand the blockchain from a basic understanding and that bitcoin is produced using an algorithm on the blockchain. So are all coins on 1 blockchain just deployed in different spots? Like bitcoin has a blockchain deployed somewhere, ethereum has that same blockchain (like a copy of bitcoins just set up for ethereum) deployed somewhere else, etc etc? That blockchain is the same "backbone" everywhere but the coins produced are different? Where does scalability come in, is that built into the block chain or the coins produced? I understand PoW and PoS at a basic level as well but are those 2 different types of blockchains? Why can XRP do 1500 TPS and bitcoin cant? If there are any videos you recommend watching or articles/forums to read I'd love a link, I want to educate myself on blockchain and bitcoin protocol as best I can. Thanks!

    submitted by /u/deserteagles50
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    First time I see commercials on several national dutch channels on television

    Posted: 30 Jan 2019 11:57 PM PST

    Is you thought cryptopia was bad, try this "India's largest bank forgets to secure key server with password, millions of users bank balance and details leaked" Lol

    Posted: 30 Jan 2019 09:56 AM PST

    STOs - I gather few useful resources that simplify this new trend

    Posted: 31 Jan 2019 01:47 AM PST

    One of the main reasons I made this list is because I heard about STOs a few times already but I didn't have a clue what it is. So, I'm not saying you should invest in STOs, but if the market involved into new directions (and it seems in the last few weeks it does) it's important to know what it is.

    1-What is even STO?

    2- All you need to know about STO

    3-What is Regulation and why STO needs it

    4-ICO vs STO who wins?

    5-Security tokens in the US: regulations and exemptions under the SEC laws

    6-The future of STO's

    7-The Pros and Cons of Security Token Offerings

    TD;LR Many of the ICOs were actually STOs and even now some ICOs issues token that fit in the security category thus making them un-regulated STO, so this field still Relatively breached, not every STO is regulated and safe, a lot of them are just STOs in ICO disguise. In addition, STO stands for Star Trek Online ground and space building

    submitted by /u/yurikatt
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    NEM Foundation, on Brink of Bankruptcy, Plans Layoffs and Pivot - CoinDesk

    Posted: 30 Jan 2019 10:36 PM PST

    Saw this in the mall in Texas. First time seeing one here. Wasn’t here this Christmas

    Posted: 30 Jan 2019 05:00 PM PST

    What DApp Will Be The FIRST true king of Blockchain World Wide?

    Posted: 31 Jan 2019 03:29 AM PST

    For the past few years we have seen DApps come and go, some have had massive popularity and a lot have had zero impact on the space.What would be the most successful in terms of hype to date? I guess CryptoKitties right?What would be the longest lasting so far? Maybe Metamask, a few DEXs and platforms such as localbitcoins (although you couldn't really call that a Dapp right)Which have failed miserably? too many to mention.

    DApps have huge potential, but so far have not had life changing effects, so what type of DApp do YOU think will be the first mainstream and widely used platform world wide?

    I listed the above as examples, so feel free to correct me if needed, but I would like to hear everyone's ideas on what they think will make the biggest impact globally.

    Also which Blockchain in the next 24 months would be able to accommodate such a large scale and popular DApp? - No Shills, Just honest opinions

    submitted by /u/HannahToby
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    lol, I'm essentially making $10,000 by filing my crypto taxes.

    Posted: 30 Jan 2019 11:09 AM PST

    Before i dive into this...I need to rant for a second...

    I first learned about the tax implications that come with cryptocurrencies in the US earlier this fall (about September time frame). At the time, I was down around $32,000 total from when I first got involved in crypto about a year prior (yes I did buy the hype and I'm paying for it now).

    I was blown away after I learned that because the stuff is treated as property for tax purposes, I somehow needed to report EVERY SINGLE trade that I have ever made to the government. I also needed to know the US dollar value of the cryptocurrencies that i was trading at the time of each individual trade to properly report everything. For someone like me who has done A LOT of trading, this is literally IMPOSSIBLE. Seriously there has to be a better way to tax this stuff cmon... (later on I found out that their are now sites that automate this process like cryptotrader.tax and cryptotaxhub)

    Okay initial rant over....

    So as I started to dive into it more (and after discussing things over with my Uncle who is an accountant) I found out that because it's classified as property, I can actually write off my losses in crypto on my taxes if I can sort through the giant mess. My enormous losses can then actually be used to offset other income and GAINS that I have made in other areas of my life.

    This whole process got me thinking...

    I realized that if I sold off a property that I bought about 3 years ago that has accrued in value quite a bit (it's a piece of land in Minnesota), I could use my losses from crypto to offset my huge gains from selling the property. So, I did exactly that and sold the lot at the end of November. This is where it gets awesome.

    I made about $50,000 in gain from the sale of the land. I would typically owe a tax on that entire 50k gain; however, because i offset those gains with my crypto losses (32K of loss) I only have to pay taxes on 18K of gain from the land sale!

    I essentially saved $10,000 on my tax bill by filing my crypto losses. Take that government!!

    It's the one bright spot in an otherwise terrible year for crypto... but it's pretty awesome because your crypto losses can potentially save you a good amount of money on taxes.

    ​

    submitted by /u/razor476
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    Blockchain Beer Introduced by Canadian Collaboration

    Posted: 31 Jan 2019 02:49 AM PST

    Ripple Appoints General Counsel From US Top Bank

    Posted: 31 Jan 2019 01:54 AM PST

    WBTC (Wrapped Bitcoin) Is Now Live On Ethereum

    Posted: 30 Jan 2019 05:05 PM PST

    Upfiring's Official Dapp Release goes LIVE on February 6th, 2019

    Posted: 30 Jan 2019 10:12 AM PST

    Welcome to the new IOTA Documentation Portal

    Posted: 30 Jan 2019 10:51 AM PST

    Energinet and the IOTA Foundation to Drive Internet of Things Integration in the Energy Ecosystem

    Posted: 30 Jan 2019 07:43 AM PST

    IMF Chief Praises Ripple, Says Banks Are About to Be 'Cannibalized'

    Posted: 30 Jan 2019 01:32 PM PST

    Morpheus.Network ($MRPH) Explained

    Posted: 31 Jan 2019 02:08 AM PST

    Morpheus.Network ($MRPH) Explained

    ​

    What is Morpheus.Network ($MRPH)?

    ​

    From the website:

    MORPHEUS.NETWORK WAS DESIGNED IN CONSULTATION WITH SOME OF THE WORLD'S LARGEST SHIPPING, CUSTOMS & BANKING FIRMS TO CREATE A FULL-SERVICE, GLOBAL, AUTOMATED, SUPPLY CHAIN PLATFORM WITH AN INTEGRATED CRYPTOCURRENCY PAYMENT SYSTEM UTILIZING BLOCKCHAIN TECHNOLOGY.

    ​

    Let's dive in deeper than the typical buzz-words you'd expect to see on a project's website.

    ​

    In my opinion, this middleware approach to blockchain + global trade is simple, intuitive and brilliant. Rather than focusing on developing a new technology altogether -- Morpheus.Network is able to leverage all the best blockchain protocols (Ethereum, Holochain, Chainlink, Stellar, IPFS document storage, Storj, Siacoin, BTC, Ripple, the list is literally never ending...), all of the best logistics API's (FedEx, UPS, Microsoft Azure, DHL, SAP, IBM, Oracle, etc.), IoT triggers (QR, RFID, GPS Location, temperature sensors, etc.), and anything else that might be useful in global trade.

    That essentially makes the platform future proof. New technologies and innovations just enhance the ecosystem even more, because they can simply be integrated. It also has no competitors. There isn't a single crypto project that is doing this -- providing a blockchain powered network as a middleware to link all the best supply chain technologies together. I've searched, believe me. The concept is so intuitive, and yet nobody else has been able to pull it all together, that tells me this is special.

    ​

    Also, what's special about this Platform are the partnerships and integrations with top tier payment platforms. That's essentially what brings the entire supply-chain process together, and it's something that really gives the product an edge. With the strength of the world's largest international payment platform -- SWIFT -- coupled with a groundbreaking cash management platform -- AccessPay – Morpheus.Network not only brings the payment side of the process into play, it does so in an innovative and superior way than most existing centralized solutions.

    ​

    The flexibility, scalability and ease of use cannot be understated -- especially as Dan (CEO) and Karl (Global Head of Business) are out selling the platform to CEOs. Top executives don't care how it works, it just needs to work – and then they'll let their imaginations run wild with how much money it can save them by automating everything. Everyone knows how to drag and drop -- and this kind of plug and play blockchain automation is what this industry currently lacks.

    ​

    Speaking of "how it works," this is where you're probably asking yourself, okay they have an incredible product - why does it need a token, and how will the token be used? What is going to make this MRPH token have value beyond speculation? Here is the current token utility as we know it. Keep in mind, the full tokenomics are currently being developed and approved by the legal team. They will be published before the platform launch (by the end of Q1 2019):

    ​

    • The platform charges a flat 1% transaction fee. This 1% fee must be paid in MRPH.
    • The MRPH token is specifically designed to map out the details of any smart contract executed within the platform. To put it simply – MRPH must be transacted on the blockchain to record the history of every single supply chain event (each payment, QR/RFID scan, shipment, delivery, etc).

    ​

    Clearly, the MRPH token has intrinsic utility within the network. There isn't a single event on the Platform that doesn't cost MRPH. The next question is – how does Morpheus.Network expect users to buy these tokens, store them safely, and do so without dealing with the current crypto regulatory nightmare? To put it simply – they don't:

    ​

    • Users of the platform do not need to hold MRPH or purchase them off an exchange. All fiat to MRPH conversions, and MRPH transactions, happen autonomously on the backend. So if a company does not want to be paid in crypto, they can choose to be paid in any fiat currency they want. The platform will automatically convert 1% of the fiat currency to MRPH the backend.
    • All payment amounts are pegged to the EURO, so that while a payment is in escrow (waiting for goods to be delivered), the volatility of MRPH does not affect the customer whatsoever. Let's say between ordering the goods and receiving them, MRPH increases 10% -- the cost for the seller is not affected. It simply means less MRPH will need to be bought on the backend.

    ​

    The MRPH token has undeniable intrinsic demand within the platform, customers don't even need to think about MRPH because it's used 100% on the backend of the platform, and the price volatility of MRPH is a non-factor. What's the catch you ask? We still don't know:

    ​

    • Where the tokens bought on the backend will come from. Speculation from me: it would make sense for them to be purchased from a decentralized exchange. In fact, they have a liquidity exchange within their website: exchange.morpheus.network
    • What happens to the MRPH tokens after they are bought and transacted for the 1% fee and to map out the supply chain. Speculation from me: Dan has teased some "token holding incentives" when asked about masternodes in one of the AMA's. I believe there will be masternodes announced, and they will be entitled to a % of the transaction fee. Also, they could implement a token locking mechanism that will reduce circulating supply over time.

    ​

    To sum this post up – there isn't a single supply chain scenario this platform can't handle, in theory. Obviously, things need to be developed for each use case – but the potential number of integrations is nearly unlimited. The native token MRPH is the backbone of the network and is going to be transacted in every single event that happens on the platform, sometimes, in more ways than one. Upcoming tokenomics and token holding incentives – including masternodes (potentially).

    ​

    One thing I've left out that I want to touch on – the team is truly high caliber. Former CEO of DHL, Roger Crook, is Team Lead for Global Logistics; inventor of privacy Bulletproofs – Jonathan Bootle – is an advisor, and R3 Blockchain Solutions Architect, Daniel Eidan, oversees Software Solutions (Note the recent collaboration between SWIFT and R3). Check out https://morpheus.network/team/ to see the full power squad.

    ​

    Therefore, I truly think that as people fully understand the platform, it's accomplishments and the limitless potential – they will see that Morpheus.Network is the future of global trade.

    ​

    submitted by /u/decadura
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    While much of the crypto world is breathlessly watching for any sign of price change in their favorite projects, some of the greatest minds in the industry are building systems that will allow for mainstream business adoption

    Posted: 31 Jan 2019 12:43 AM PST

    Anyone else find all these recent posts about the immense benefits of reporting your crypto taxes to be suspicious?

    Posted: 31 Jan 2019 02:40 AM PST

    'Reporting my crypto taxes has been such an improvement in my life!'
    'I even made more money by reporting my crypto taxes!'
    'Since I have been reporting my crypto taxes women just can't get enough of me!'
    'Try it out too, it is easy! Report your crypto taxes today!

    * not sponsored by the government

    submitted by /u/mahi2mahi
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    Insights from the Security Tokens Realised event in London

    Posted: 31 Jan 2019 02:39 AM PST

    OmiseGO eWallet Suite Demo

    Posted: 31 Jan 2019 02:17 AM PST
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