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    Cryptocurrency Daily Discussion - April 27, 2019 (GMT+0)

    April 27, 2019

    Cryptocurrency Daily Discussion - April 27, 2019 (GMT+0)

    Daily Discussion - April 27, 2019 (GMT+0)

    Posted: 26 Apr 2019 05:13 PM PDT

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

    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 exercise utmost caution before acting on any trade tip mentioned here.

    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 The prior exemption for karma and age requirements is no longer in effect.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.
    submitted by /u/AutoModerator
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    ELI 5: What is to prevent Bitfinex/Tether from printing as much Tether as they want and buying as much BTC as they want with it?

    Posted: 26 Apr 2019 11:47 AM PDT

    Since the news, they've "minted" hundreds of millions of tether. Not only the 300 million Tether, but the 100 million on the Tron blockchain. Can this 400 million tether not just be used immediately by them to buy $400 million worth of BTC????

    Follow up question: What's stopping them from minting, converting directly to USDC, converting to fiat, and cashing out directly?

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

    Bitcoin and Ethereum Trading Coming to E*Trade

    Posted: 26 Apr 2019 03:23 PM PDT

    It was only a matter of time ...

    Posted: 27 Apr 2019 03:20 AM PDT

    WARNING: Substratum Silently Removes Access to Team Members on Their Website

    Posted: 26 Apr 2019 11:06 PM PDT

    Substratum has recently removed access to their team members off their website. This comes in light of the team running painfully low on money, and their CEO being absent from community engagement for some time now.

    It appears Substratum decided to silently remove access to their team off their website around March 31st to April 13, 2019. Given the nature of funds running painfully low, Substratum seems to be making preparations to shutdown.

    The strange thing about this is that the team members are still accessible via direct URL. It's almost as if they are trying to begin to shutdown but don't understand the basic technicality to operating a WordPress site even though they are trying to "decentralize the web". This is quite an intentional act however, as there's no way to unintentionally delete a menu item unless you really don't know what you are doing..

    Why would they do this? There's only a few logical explanations. They are beginning to plan to shutdown OR want to distance their association to Justin Tabb. Doing a quick google search on "Justin Tabb Substratum" would give anyone a reason to distance themselves.

    submitted by /u/krispykream2012
    [link] [comments]

    ETrade to Offer Bitcoin and Ethereum Trading With REAL COINS

    Posted: 26 Apr 2019 04:21 PM PDT

    Fusion Foundation Developer Challenge

    Posted: 27 Apr 2019 03:10 AM PDT

    Bitfinex Letter To Traders

    Posted: 26 Apr 2019 07:50 PM PDT

    Dear Bitfinex trader,

    By now, you may be aware of the events of the last 48 hours, but I want to personally give you an update on what has happened and how we are proceeding as a business.

    On Wednesday, April 24th, the New York Attorney General's office filed a petition and related documents in the NY State Supreme Court in Manhattan concerning Bitfinex and Tether. We believe the petition was based on understandings and materials received by the New York Attorney General's office both from us and from other sources. Indeed, we had, until just yesterday, been co-operating fully with the New York authorities in their inquiries into and about our business. The petition and other materials were filed without notice to us or a chance to respond to them.

    The materials, which do not constitute a civil or criminal complaint are, in our view, filled with inaccuracies and false assertions. In particular, we want to assure you that the allegation that we have "lost" $850 million is categorically false. We have been advised that these amounts – whether in whole or in substantial part – are, in fact, seized and safeguarded in several jurisdictions, including Poland, Portugal, the United Kingdom, and the United States. We are actively working to exercise our rights and remedies to cause those funds to be released. We are confident in our ability to make clear, coherent, and convincing arguments to recover those funds. And rest assured that we will vigorously challenge the false assertions made by the New York Attorney General's office in their filing.

    I am here to tell you that we are good actors in the digital token space, and we always act with you, the customer, as our first priority. We have always taken our legal obligations very seriously, and will continue to do so. We continue to co-operate with regulators worldwide as they seek to learn more about our business. But we will not allow that spirit of co-operation and goodwill to be used to threaten our customers.

    In the days ahead, you may have questions that arise, and we encourage you to share them with me or other members of the senior management team. We will update you as and when we can and we will address as many of your concerns and questions as we can.

    We have been humbled and encouraged by the support we have seen from our customers and wider community in the face of these allegations. We are here to assure you we're as strong as ever, we are not going anywhere, and we're unwaveringly committed to you.

    Thanks and best regards,

    Jean Louis van der Velde

    CEO

    submitted by /u/Trident1000
    [link] [comments]

    Everything you need to know about atomic swaps and how it now works on Switcheo Decentralized Exchange!

    Posted: 26 Apr 2019 10:25 PM PDT

    What are Atomic Swaps?

    An Atomic Swap is a series of blockchain transactions that allows two parties to perform trustless cross-chain trading across blockchains.

    For example, if Alice would like to trade 20 ETH in return for 1 BTC, and the counterparty, Bob, would like to receive 20 ETH in return for 1 BTC, Alice will have to choose between one of two options:

    1. Alice would have to first send Bob 20 ETH and trust that Bob will send her 1 BTC back
    2. Alice and Bob would have to trust a third-party to conduct the trade on their behalf

    With Atomic Swaps, a cross-chain trade can be completed without the need for a third-party and without any risk of loss due to the counterparty not honoring the deal. To make an Atomic Swap trade, the users would proceed as follows:

    Step 1

    Alice chooses a secret password (e.g: gtMcn7XGlIbq). She hashes the password using a one-way hash to generate the following hash: 

    0f128d401958b1b30ad0d10406f47f9489321017b4614e6cb993fc63913c5454

    Alice sends a blockchain transaction with the instructions, "Lock 20 ETH from my account for Bob, with the following password hash: 

    0f128d401958b1b30ad0d10406f47f9489321017b4614e6cb993fc63913c5454

    Step 2

    After waiting for Alice's transaction to appear on the blockchain, Bob sends a transaction using the same password hash, the instruction reads as "Lock 1 BTC from my account for Alice, with the following password hash: 

    0f128d401958b1b30ad0d10406f47f9489321017b4614e6cb993fc63913c5454

    Step 3

    Alice sees that Bob has initiated a transaction, and claims her 1 BTC, using the secret password (gtMcn7XGlIbq) known only to her. Alice claims the BTC with the blockchain transaction: "Claim 1 BTC from Bob, the secret password is (gtMcn7XGlIbq) for the password hash:

    0f128d401958b1b30ad0d10406f47f9489321017b4614e6cb993fc63913c5454

    The password is verified on the blockchain to match the password hash, and the funds are transferred to Alice.

    Step 4

    Bob sees the secret password from Alice's blockchain transaction. He can then make the claim of 20 ETH from Alice by sending a blockchain transaction with the following instructions: "Claim 20 ETH from Alice, the secret password is (gtMcn7XGlIbq) for the password hash:

    0f128d401958b1b30ad0d10406f47f9489321017b4614e6cb993fc63913c5454

    Atomic Swaps on Switcheo Exchange

    While an Atomic Swap allows for trustless cross-chain trading, in practice, it is troublesome due to both parties (the person who initiates the cross-chain trade and the counterparty) having to closely monitor the blockchain and send their transactions at the appropriate times.

    Through the combination of atomic swaps and the use of an algorithmic market maker, Switcheo is able to provide users with a seamless trading experience, by simplifying the steps to make a cross-chain trade.

    In the example that was used above, the algorithmic market maker represents Alice, and Bob represents a Switcheo User.

    If the trading pair selected is SWTH / ETH, then the user will specify how many SWTH he would like to trade, and Switcheo's algorithmic market maker will determine the how many ETH should be used to match the trade. The proposed ETH amount is then shown to the user, and the user can confirm the order if the amount is acceptable.

    What does it mean to select the option, "Skip Waiting"?

    When an order is submitted, Switcheo Exchange will send the first Atomic Swap transaction (see step 1 above) to promise funds to the user. While this transaction is immediately sent, it takes some time for it to appear on blockchain explorers.

    By choosing to Skip Waiting, the user trusts that Switcheo has confirmed that this transaction was sent, and proceeds to send their Atomic Swap transaction (see step 2 above).

    Algorithmic Market Maker Pricing Calculations

    To decide on how much ETH should be asked for or given for an amount of SWTH, Switcheo uses the Constant Product market making formula:

    SWTH_To_Give = SWTH_Balance - (SWTH_Balance * ETH_Balance) / (ETH_Balance + ETH_Received)

    For example, if the algorithmic market maker has 100 ETH and 3.6 million SWTH, and if a user wants to buy SWTH using 1 ETH:

    SWTH_To_Give = 3.6 million - 360 million / (100 + 1) = 35643.56436 SWTH

    As the algorithmic market maker allocates more SWTH to users, the formula will result in less SWTH being given for a similar amount of ETH, resulting in the price of SWTH rising against ETH. On the other hand, if the algorithmic market maker gives more ETH to users, then the price of ETH will increase against SWTH. This provides fair pricing for users by allowing the price to be determined by the relative market demand of each asset.

    ​

    For more info please visit https://medium.com/switcheo & https://switcheo.network/

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

    Quant Overledger + Hyperledger Quilt~!

    Posted: 27 Apr 2019 12:27 AM PDT

    Major exchange eTrade reportedly integrating Bitcoin and Ethereum for 5M users

    Posted: 26 Apr 2019 03:14 PM PDT

    An open letter to Bitfinex traders

    Posted: 26 Apr 2019 11:52 PM PDT

    Over 100K Brave Browser Publishers ������

    Posted: 26 Apr 2019 10:08 AM PDT

    Bitfinex claims that 800+ million is “seized and safeguarded” in Poland, United States, and the United Kingdom in new Email

    Posted: 26 Apr 2019 04:53 PM PDT

    "Dear Bitfinex trader,

    By now, you may be aware of the events of the last 48 hours, but I want to personally give you an update on what has happened and how we are proceeding as a business.

    On Wednesday, April 24th, the New York Attorney General's office filed a petition and related documents in the NY State Supreme Court in Manhattan concerning Bitfinex and Tether. We believe the petition was based on understandings and materials received by the New York Attorney General's office both from us and from other sources. Indeed, we had, until just yesterday, been co-operating fully with the New York authorities in their inquiries into and about our business. The petition and other materials were filed without notice to us or a chance to respond to them.

    The materials, which do not constitute a civil or criminal complaint are, in our view, filled with inaccuracies and false assertions. In particular, we want to assure you that the allegation that we have "lost" $850 million is categorically false. We have been advised that these amounts – whether in whole or in substantial part – are, in fact, seized and safeguarded in several jurisdictions, including Poland, Portugal, the United Kingdom, and the United States. We are actively working to exercise our rights and remedies to cause those funds to be released. We are confident in our ability to make clear, coherent, and convincing arguments to recover those funds. And rest assured that we will vigorously challenge the false assertions made by the New York Attorney General's office in their filing.

    I am here to tell you that we are good actors in the digital token space, and we always act with you, the customer, as our first priority. We have always taken our legal obligations very seriously, and will continue to do so. We continue to co-operate with regulators worldwide as they seek to learn more about our business. But we will not allow that spirit of co-operation and goodwill to be used to threaten our customers.

    In the days ahead, you may have questions that arise, and we encourage you to share them with me or other members of the senior management team. We will update you as and when we can and we will address as many of your concerns and questions as we can.

    We have been humbled and encouraged by the support we have seen from our customers and wider community in the face of these allegations. We are here to assure you we're as strong as ever, we are not going anywhere, and we're unwaveringly committed to you.

    Thanks and best regards, Jean Louis van der Velde CEO"

    submitted by /u/eth_trader_12
    [link] [comments]

    Fake News Alert: North Korea Funding Development Of Weapons Of Mass Destruction With Cryptocurrency, Claims UK Institute...

    Posted: 27 Apr 2019 03:00 AM PDT

    Everything You Need To Know About Tokenization Platforms

    Posted: 27 Apr 2019 02:54 AM PDT

    Australian media recently confirmed that the country’s fast food chain, Kebabs Origin is now accepting crypto payments for kebabs and other items in its menu.

    Posted: 26 Apr 2019 10:51 PM PDT

    Nano Network-Block Visualization

    Posted: 26 Apr 2019 05:16 PM PDT

    A d3js force directed graph implementation of the nanocurrency network.

    https://nano-faucet.org/visualizer/

    Each block is displayed in real-time as it is confirmed on the network using the nano node callback feature. There are default colors, but most everything is configurable to where you can change colors, highlight an account chain and select how many blocks you want to limit the visualization too. You can also click on a block/circle to open the block details on nanocrawler or double click the account text field will open the account on nanocrawler after you have selected an account to highlight. You can also enable full screen mode with the icon in the top right.

    I hope you give it a try and enjoy it. Let me know what you think in the comments, or if you have suggestions or need to report a bug.

    Below are a few examples of scenarios I have seen.

    • Single Account Receiving

    Single Account Receiving

    • Single Account Sending

    Single Account Sending

    • Single Account Sending and Multiple Accounts Receiving

    Single Account Sending and Multiple Accounts Receiving

    • Two Accounts sending back and forth multiple times

    Two Accounts Sending back and forth

    • One Account Sending and One Receiving

    One Account Sending and One Receiving

    • Binance Account Highlighted

    Binance Highlighted

    • Dark Mode

    Dark Mode

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

    "Crypto influencers are only there to take your money." - BlockHaven

    Posted: 26 Apr 2019 05:53 AM PDT

    Hello, if anyone over the age of 18 with current or past experience investing into cryptocurrencies could answer my survey for my University dissertation that would be greatly appreciated.

    Posted: 26 Apr 2019 05:49 AM PDT

    The gloves are off

    Posted: 26 Apr 2019 12:33 PM PDT

    CZ admitted to NEVER having seen Tether’s financial statements before paying Tether for it to be listed on Binance. Starts at 9:00

    Posted: 26 Apr 2019 05:09 PM PDT

    Anyone notice the $100 million Tether print on TRON?

    Posted: 26 Apr 2019 06:30 AM PDT

    https://wallet.tether.to/transparency

    ​

    As you can see, there's just under $100 million Tether now on the Tron blockchain. Oh and I'm pretty sure there were a bunch of Tether recently printed on the Ethereum blockchain in the last few days. Don't remember seeing those numbers so high.

    ​

    The Tether printing machine is in full force across three different blockchains. Combined with the exodus of funds from Bitfinex, this is going to get ugly really fast.

    ​

    Everyone suspected that there were problems with Tether, but have continually ignored it. Same thing happened with Gox. Everyone knew, but hell didn't break loose until it was official.

    ​

    Tether is so ingrained into the crypto ecosystem, do we have any idea of the ramifications?

    ​

    UPDATE

    Since I posted this a little over 2 hours ago, Tether has printed another $100 million on the Ethereum blockchain and about $7 million on Tron.

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

    Prepare for a modern day bank run: 17 200 BTC was just moved from Bitfinex's coldwallet!

    Posted: 26 Apr 2019 10:54 AM PDT

    Skycoin’s CX Labs: A Blockchain Programming Language to End all Others!

    Posted: 27 Apr 2019 04:22 AM PDT

    Bitfinex Withdraws $89 Million From Cold Wallet as Users Signal Exodus Over Legal Debacle

    Posted: 26 Apr 2019 06:40 AM PDT
    Read more
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