Cryptocurrency Daily Discussion - April 29, 2019 (GMT+0) |
- Daily Discussion - April 29, 2019 (GMT+0)
- Important Mod Team Update - The link whitelist test is now live
- Jaguar Land Rover Planning to Allow Helpful Car Drivers to Earn Cryptocurrency [IOTA]
- Official jaguar website news release for integrated crypto wallet and video of demo! Drivers earn crypto as they drive for sharing data.
- Bitfinex BTCUSD is $300 above all exchanges since news broke
- Monaco (MCO) Raised $26 Million in ICO and Promised to Deliver Crypto Visa Cards, Rebrands Itself to Crypto.com and Then Crypto.com Chain (CRO) After Failing to Deliver Cards
- I recently got an e-mail, saying my computer has been hacked and asking for BTC, they have a password that I stopped using for important things but I'm still kind of scared. Help
- I made cryptocurrency poker chips
- Tom Lee At It Again! Says All-Time Highs Are Coming..You Know What That Means? A New Bottom Is Coming!
- Remember, Tether is now backed by "assets" that they claim have market value of 1:1. No one knows what those assets are or if they are correctly valued.
- Bitcoin-related tweets are at their lowest level in 5 years
- Bitfinex Needs ‘A Few Weeks’ to Unfreeze Funds, CFO Tells Shareholder - CoinDesk
- Blockchain games evolve - Introducing 8 Circuit Studios
- How a blockchain startup with 1M users is working to break your Google habit
- The run to remove funds from Bitfinex is getting heated, BTC is currently trading at a 6 % premium!
- People losing faith in Bitfinex faster than USDt itself?
- Roger Ver Pledges $10,000 to a Charity of Adam Back's choosing If He Agrees To Debate Peter Rizun, Drama Ensues
- This sub right now
- Is Wirex for real...? I’ve had a mixed time with them over the past year, but withdrawing to their GBP wallet incurs a bit of a mad fee for only 200GBP of Fiat....
- Technical Analysis with Bitcoin
- Adoption is here!! Absolutely shocked to see a Bitcoin ATM in the mall in a small UK town (Swindon)
- Big week in crypto: TD Ameritrade allows BTC trading & eTrade adding BTC and ETH
- Russia to test crypto in 4 regions, regulatory sandboxes to be established for allowing companies to experiment with crypto without actually breaking any federal law.
- Week in Ethereum News -- April 27, 2019
- Tipping protocol for website owners?
- Does anyone have a list of countries where Bail-in legislation exists? Showing such a list to your friends could spike interest in crypto...
Daily Discussion - April 29, 2019 (GMT+0) Posted: 28 Apr 2019 05:18 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:
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Important Mod Team Update - The link whitelist test is now live Posted: 28 Apr 2019 10:30 PM PDT
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Jaguar Land Rover Planning to Allow Helpful Car Drivers to Earn Cryptocurrency [IOTA] Posted: 28 Apr 2019 04:52 PM PDT
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Posted: 28 Apr 2019 07:58 PM PDT | ||
Bitfinex BTCUSD is $300 above all exchanges since news broke Posted: 28 Apr 2019 05:11 PM PDT
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Posted: 28 Apr 2019 05:41 AM PDT The War On Shitcoins Episode 14: Crypto.com aka Monaco (MCO) & Crypto.com Chain (CRO). The war on shitcoins is a Crypto.IQ series that targets and shoots down cryptocurrencies that are not worth investing in either due to their being scams, having serious design flaws, being centralized, or in general just being worthless copies of other cryptocurrencies. There are thousands of shitcoins that are ruining the markets, and Crypto.IQ intends to expose all of them. The crypto space needs an exorcism, and we are happy to provide it. Monaco (MCO) launched during the height of the ICO boom in May 2017 and raised 71,392 Ethereum (ETH) worth $26 million at the time. Monaco (MCO) promised to deliver cryptocurrency debit cards, which is essentially a debit card connected to a cryptocurrency wallet. The Founder of Monaco, Kris Marszalek, claimed that there were members on the Monaco (MCO) advisory board from Visa and Amazon Web Services. If Monaco (MCO) delivered on its promises, it would have been a major step for global cryptocurrency adoption. Typically, cryptocurrency users have to exchange their cryptocurrency for fiat on an exchange and then wait several days for the fiat to be deposited into their bank account. Another option is using a Bitcoin (BTC) ATM which instantly converts cryptocurrency to cash, but there are high fees. Users would have to go to the bank and deposit the cash before using it on a debit card. A cryptocurrency debit card would have streamlined this process, saving users time and money. It would have also made cryptocurrency easy to use at any store. Monaco (MCO) even offered 1-5% cashback, meaning users would profit from converting their cryptocurrency into fiat versus the typical case of losing money from exchange fees. However, the Monaco (MCO) cryptocurrency debit cards turned out to be too good to be true. Apparently the Monaco (MCO) Visa card is only available in Singapore beginning November 2017. Despite this, Monaco (MCO) has been offering the Visa card to United States residents, with the enticing details that the card gives users free Netflix and Spotify, as well as discounts on AirBNB and Expedia. Further, referral codes were given out, which give users $100 of free money if and when they receive the card. Users who sign up to receive the Monaco (MCO) Visa card in the United States must submit their full identity and address information, including pictures of their passport or driver's license, only to be told at the end of the process that the card is not yet available, that it will be shipped when available. The fact that Monaco (MCO) is doing everything it can to entice users to sign up in order to get their full identification information without delivering any product looks a like a shady business practice and leaves users at risk of identity theft. Despite no time table for when the cards will become available, Monaco (MCO) continues to accept deposits of 50 MCO ($3.50) to 50,000 MCO ($3,500) to reserve premium cards that offer increasing cash back and benefits as more money is deposited. With the Visa card project failing, Monaco (MCO) decided to buy the Crypto.com domain name for $12 million, the most expensive cryptocurrency-related domain name purchase in history. Monaco then changed the name of its cryptocurrency to Crypto.com under the same symbol MCO in July 2018, while assuring users the move would not delay the rollout of the Visa cards. By November 2018, the team at Crypto.com launched a new cryptocurrency called Crypto.com Chain (CRO), which apparently is a blockchain that facilitates payments between users and merchants and accepts any cryptocurrency. This creates the confusing situation where there are two different cryptocurrencies with almost the same name, Crypto.com (MCO) and Crypto.com Chain (CRO). However, the blockchain system for Crypto.com Chain (CRO) is scheduled to launch in phase 3, and phase 1 and phase 2 involve getting merchants to accept crypto payments and onboarding customers and different crypto apps. It is unknown what phase the project is in, and it is unknown if any blockchain has actually been developed since it is not live at this time. At this point, Crypto.com Chain (CRO) is a simple ERC-20 token. Further, Crypto.com says in the whitepaper that it will manage all funds and transactions, so users of this network must trust Crypto.com, which is perhaps not the best idea following the failure of the Monaco (MCO) Visa card. In order to incentivize users to join the Crypto.com Chain (CRO) and to continue holding Crypto.com aka Monaco (MCO), an airdrop is being done where holders of Crypto.com (MCO) receive Crypto.com Chain (CRO). The major caveat is users must hold Crypto.com (MCO) from December 2018 through December 2019 in order to receive the airdrop, and the airdrop is quite slow with 60 payments over the course of 5 years. Since the Crypto.com aka Monaco (MCO) team holds about 50% of the total coin supply, the team clearly benefits from offering this incentive for users to buy and hold the coins. Despite Crypto.com (MCO) failing to deliver the Visa cards and Crypto.com Chain (CRO) not launching the promised blockchain system yet, these cryptocurrencies have market caps of $68 million and $372 million respectively. This shows how the market cap of a cryptocurrency is not a good measure of a cryptocurrency's reputation, utility, or value. In the case of Crypto.com Chain (CRO), 95 billion out of a total supply of 100 billion coins are held by the team, making it easy for the team to dump for profits at the expense of investors and traders. In December 2018, the 459-page Bitcointalk thread for Crypto.com aka Monaco (MCO) — full of customer and investor complaints — was locked. A new, self-moderated thread was simultaneously launched, and in the past 5 months, there have only been three pages of discussion. Presumably, any negative posts are being deleted. We've since learned that the Founder of Monaco, Kris Marszalek, was the CEO of Ensogo when it collapsed in June 2016. The shutdown of Ensogo was so abrupt that employees went to work and found their offices shuttered. Merchants were not paid for products they sold through Ensongo. Customers did not receive products. Investors who held Ensongo stock lost their entire investment, and Ensongo coupons instantly became worthless. Marszalek resigned from Enzongo the same day, and less than a year later, he founded Monaco (MCO). To sum up this long tale, Monaco (MCO) raised tens of millions of dollars to launch a cryptocurrency Visa card that never materialized. Vast amounts of user identification information were collected in the process — is still being collected to this day despite no time table for the launch of the Visa cards. The company rebranded itself by buying the $12 million Crypto.com website and renamed Monaco (MCO) to Crypto.com, likely due to numerous users calling Monaco (MCO) a scam. Despite not finishing the cryptocurrency Visa card project, the company launched a different cryptocurrency called Crypto.com Chain (CRO), promising to bring about global cryptocurrency adoption, but has not actually launched the promised blockchain technology behind it. The nail in the coffin is the founder of these projects, Kris Marszalek, was at the helm of Ensogo when the company collapsed and defrauded numerous users, investors, and merchants. Then Marszalek launched Monaco (MCO) less than a year later. [link] [comments] | ||
Posted: 29 Apr 2019 03:06 AM PDT It's a pretty shitty email, and they have and I received it in an e-mail I use mainly to sign up in sketchy places. The password that they used is an old one that I no longer use in my main accounts but I still wonder how they got it. Maybe a site where I registered got hacked? IDK, in the coments I'll put the mail I got. Any help will be greatly apreciated. [link] [comments] | ||
I made cryptocurrency poker chips Posted: 28 Apr 2019 02:43 PM PDT
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Posted: 28 Apr 2019 01:22 PM PDT
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Posted: 28 Apr 2019 04:42 PM PDT Tether lately claims USDt is backed by fiat and various other assets. They also claim 1:1 backing. Generally, "reserves" should be in cash or cash equivalents of high liquidity (treasuries, etc), or assets marked to market. If they aren't in such form, there is no way to know if they are fairly valued on Tether balance sheet. Tether is owned by the same people as Bitfinex, thus there is no incentive to fairly value the debt. It's entirely possible that Bitfinex has no intention of repaying Tether, but Tether claims they will simply so they can say it's 1:1. Again, same owners, so they don't care. It's irrelevant to them. We already know Tether has backed $850M of USDt with an $850M loan to Bitfinex. That note likely does not have face value or a premium, thus that note alone means Tether is under-reserved. If the debt had face value, Tether likely would have tried to sell it and immediately recoup reserves. In reality, it's probably very risky debt that shouldn't have face value. Tether became Bitfinex's lender of last resort because they couldn't sell debt to anyone else. So that brings me back to the topic of the post. Tether assets are clearly no longer cash and may even include debt that has far less value than they claim. USDt could be backed by pure junk that Tether has just decided to mark as high quality rather than anything close to fair value. For all we know, Tether is owed $1B by the owners personally and they have no intention of paying it back, ever. This is why you'll never get an audit. It's likely way under-reserved with junk nowadays. Remember when MBS in 2008/2009 were backed by junk that was incorrectly rated/valued? Tether is the one who gets to rate/value their own junk. [link] [comments] | ||
Bitcoin-related tweets are at their lowest level in 5 years Posted: 28 Apr 2019 04:47 PM PDT
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Bitfinex Needs ‘A Few Weeks’ to Unfreeze Funds, CFO Tells Shareholder - CoinDesk Posted: 28 Apr 2019 02:05 PM PDT
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Blockchain games evolve - Introducing 8 Circuit Studios Posted: 28 Apr 2019 10:03 PM PDT
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How a blockchain startup with 1M users is working to break your Google habit Posted: 29 Apr 2019 02:40 AM PDT
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The run to remove funds from Bitfinex is getting heated, BTC is currently trading at a 6 % premium! Posted: 28 Apr 2019 07:41 AM PDT | ||
People losing faith in Bitfinex faster than USDt itself? Posted: 28 Apr 2019 09:45 AM PDT USDT/USD: 1.0349 on Bitfinex In what realm of craziness would people value USDt at a 3.5% premium to USD knowing that USDt is already lacking reserves? USDt trading at such a premium to USD on Bitfinex implies that people think there is considerable risk that Bitfinex is approaching insolvency. You'd have to be crazy to be holding any USDt or anything on Bitfinex. Anyone with half a brain should move into some sort of crypto and try to get off Bitfinex asap. Both USDt and Bitfinex as flashing huge alarms. [link] [comments] | ||
Posted: 28 Apr 2019 02:30 PM PDT
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Posted: 28 Apr 2019 08:55 AM PDT
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Posted: 29 Apr 2019 03:27 AM PDT
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Technical Analysis with Bitcoin Posted: 28 Apr 2019 11:07 AM PDT
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Adoption is here!! Absolutely shocked to see a Bitcoin ATM in the mall in a small UK town (Swindon) Posted: 28 Apr 2019 12:38 PM PDT
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Big week in crypto: TD Ameritrade allows BTC trading & eTrade adding BTC and ETH Posted: 28 Apr 2019 02:55 PM PDT
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Posted: 28 Apr 2019 07:49 PM PDT | ||
Week in Ethereum News -- April 27, 2019 Posted: 28 Apr 2019 09:20 AM PDT | ||
Tipping protocol for website owners? Posted: 29 Apr 2019 12:47 AM PDT I'm a little annoyed that Brave browser takes 5% of tips made to content creators. I don't know if Uphold then take another fee when a withdrawal is made but it wouldn't surprise me. This isn't the peer-to-peer economy that we got into crypto for. Has anyone proposed the development of a protocol (and browser plugin) by which website owners can specify crypto addresses for receiving tips? Perhaps a tips.txt file in the site root, similar to the way website owners use robots.txt or sitemap.xml? [link] [comments] | ||
Posted: 28 Apr 2019 08:48 PM PDT Hi guys, obligatory, "I just google searched this and didn't find any such list." The most relevant news article I could find was the EU prompting 11 of their countries to adopt bail-in legislation. What is a bail-in? The idea of negative interest rates already does not sit well with just about anyone. Bail-in's, I think we can agree, are borderline catastrophic. [link] [comments] |
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