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    Cryptocurrency Daily Discussion - May 31, 2019 (GMT+0)

    Cryptocurrency Daily Discussion - May 31, 2019 (GMT+0)


    Daily Discussion - May 31, 2019 (GMT+0)

    Posted: 30 May 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 The prior exemption for karma and age requirements is no longer in effect.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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    $9,000 Has Arrived...

    Posted: 30 May 2019 10:00 PM PDT

    I lost everything.

    Posted: 30 May 2019 06:48 PM PDT

    I lost everything.

    I messed up really badly. More so than I ever had in my life. I lost all my crypto and fiat funds, and have no one to blame but myself. Throughout the entire bear market of 2018, I've been collecting as much BTC and ETH as I could. I fully believed in the tech, as well as the opportunity for financial freedom that was presented in front of me. I used the money from part time jobs (while studying at university full time) and a large portion of my student loans to buy crypto every month. Even as the bear market diminished the value of my portfolio, I kept on buying knowing that it would potentially pay off one day. I was in my last year of university and my thinking was that crypto at the very least could help me pay off my student loans. And for the past couple of months, everything seemed to be going according to plan. Crypto was booming literally just in time for my graduation.

    That's when I discovered Bitmex.

    Within a month, my discovery of Bitmex managed to ruin my life. I started off with a small deposit of 0.01 BTC, and I managed to flip that in to 0.2 BTC within a week. I was euphoric. Then as quickly as I made it, I lost it all to one swift move by the market. So I made a new account thinking that I knew what I was doing this time around and deposited a slightly larger amount. Liquidated. I deposited again. Liquidated. It got to the point where my bank account had no money left to fund my Bitmex account and that's where I made my biggest mistake. I decided to "borrow" funds from my BTC and ETH cold storage to try to recuperate everything I've lost so far on Bitmex. And as I now know, revenge trading never works. Today marked the end of my crypto career, all my alts were liquidated when BTC broke 9k and pretty much dumped right after.

    I have now no more funds left to deposit and have lost all my crypto. Everything that I've been collecting during the bear market, just to have it taken away right before the bull market. I've lost a total of 1BTC worth of crypto, which may not seem like that much to some of you, but that was literally everything that I had. I have nothing left now. I can't find someone to hire me with my god-damn useless degree. I have no way of paying off my student loans. I feel stuck. I feel scared. I feel angry that I screwed myself this hard. I'm absolutely freaking out right now as I'm typing this and I'm having thoughts of killing myself… because I really don't think I can recover from this. I don't know what to do.

    If there's anything that anyone can take away from this, it's to not mess around with margin trading and leverage unless you really know what you're doing. It'll be the death of you. Literally.

    https://i.redd.it/xh9v7lhmcg131.png

    https://i.redd.it/k31709ulcg131.png

    https://i.redd.it/7k7bq04lcg131.png

    https://i.redd.it/0dpffljkcg131.png

    EDIT: Thank you to everyone who gave advice, shared a story, or just left a positive message. I can't reply to you all, but your support has been overwhelming and very helpful. I think after some time away, I'll manage to be okay. I just need to find some time for myself and figure things out.

    submitted by /u/nomoresaddays
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    Over $100000 locked up on Hitbtc for the past 12m. Requests for KYC keep getting more and more until you're just unable to provide what they want or they just ask for the same information that you already provided. Do not use them and pull any funds on there off while they're up.

    Posted: 31 May 2019 03:16 AM PDT

    Over $100000 locked up on Hitbtc for the past 12m. Requests for KYC keep getting more and more until you're just unable to provide what they want or they just ask for the same information that you already provided. Do not use them and pull any funds on there off while they're up.

    Yes I know most know this but this is for those that don't. There are many people like me and so far few got their money and only when they're big in the public.

    submitted by /u/NOTPR0
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    Given the current bull run which is attracting increased trading activity, Binance’s move into margin trading could be the catalyst for an unprecedented altcoin season.

    Posted: 30 May 2019 11:31 PM PDT

    Walton Team just released their "Mainnet" Go-Ethereum clone with Copyrights and Creators removed

    Posted: 30 May 2019 10:20 AM PDT

    It's no wonder that they hid the code for so long. I compared several files side by side. Walton is unequivocally a copy and paste of the Go version of Ethereum WITH THE ORIGINAL CREATORS REMOVED.

    That last part is what makes it fraudulent as hell. If there was any question whether they are disingenuous before, this should cement their place in the fraudsters hall of fame.

    Example:

    Original Ethereum:

    https://github.com/ethereum/go-ethereum/blob/master/p2p/rlpx.go

    Walton Copy with reference to Ethereum removed:

    https://github.com/WaltonChain/WaltonChain_Gwtc_Src/blob/master/p2p/rlpx.go

    The specific ways in which they renamed everything(and removed copyrights) offers no technical advantages or return. It is clearly an attempt to make it look less like a copy/clone and violates the open source licenses under which Go-Ethereum was originally released. This is amateurish, misleading and amounts to nothing less than plagiarism.

    submitted by /u/hashparty
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    Waltonchain adds GNU General Public License details to code - BUT does the code contain this?

    Posted: 31 May 2019 03:42 AM PDT

    Waltonchain adds GNU General Public License details to code - BUT does the code contain this?

    Dear Crypto community,

    Yesterday we saw Waltonchain release their Open Source code which resulted in huge criticism regarding the oversight of removing the original copyright to the original codebase, Ethereum Go, on which it is based.

    Following this, the team have now updated the code to show the original copyright:

    Image from Github

    Source: https://github.com/WaltonChain/WaltonChain_Gwtc_Src/blob/master/p2p/rlpx.go?utm_source=share&utm_medium=ios_app

    Github: https://github.com/WaltonChain?tab=repositories

    I'd like to say thank you to the community for having such strong opinion on this matter, and for all the subreddit admins that assisted in creating clarity toward this. As a global community we should hold every blockchain up to the same standards, and I am grateful that this was shown in regard to the GNU General Public License.

    Now that the issue is resolved, and since Waltonchain is currently a hot topic, I implore all the coders and devs out there to delve deep into the code to see exactly what Waltonchain have released. Not just the modification to the eth codebase, but the additional code. What does the code allow?

    What we've been told as a community is that the Waltonchain source code has changes that allows for:

    • Security - DASH X11 - Most cryptographic algorithms used in cryptocurrencies use only one hash function for calculation. There are 11 of them in X11, which provides a higher degree of protection against hackers and scams. Waltonchain has customised the DASH X11 hashing algorithm to fit their purpose.
    • More secure than Bitcoin. The Bitcoin algorithm is SHA-256 is based on a previous secure hash algorithm family of standards, namely SHA-2, the hash functions within the X11 algorithm all successfully made it into the second-round in search for a new, more secure standard — SHA-3. Keccak, the function which won the competition and is therefore the new standard on which SHA-3 is based on, can at the very least be considered more secure that SHA-256.
    • Efficiency — Waltonchain have produced ASICs with the equivalent hashing power of 200GPUs (32–40kW) whilst using only 135W, thus helping the parent chain become decentralised
    • PoS aspect works in tandem with PoW, in that it adds a reduced difficulty based on number of coins held and time between blocks. Effectively the longer coins are held and the longer the time between blocks, the lower the difficulty for mining blocks. This again enhances the power efficiency of the network in its entirety.
    • Fast cross-chain searching via Proof of Labour —PoL enables hash values or indices from sub-chains (child chains) to be synced with the parent chain in a 'cross chain index mechanism' to enable fast searches for data via the parent chain.
    • Scalibility — Unlimited scalibility due to child chains; each CC is an independent blockchain (or DAG) using its own consensus mechanism (PoS, PoA, PoW, PoeT, etc) and can store data within itself. The parent chain by nature therefore cannot become bloated.
    • Atomic Swaps — PoL by nature ensures a record of every inter-chain transaction is held, and allows the function of atomic swaps between currencies.

    Also to note is that the code has been audited by Knownsec, the same company that audited projects like HPB and NANO.

    Lets have an open dialogue and talk about these features of the code - but firstly, do they exist? Hopefully people will approach this with the same enthusiasm as they did yesterday.

    For reference:

    Block explorer: www.Waltonchain.pro (all wallets, mining wallet, documentation etc is available via that link)

    submitted by /u/Yayowam
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    Lord of the Bitcoins

    Posted: 31 May 2019 03:31 AM PDT

    Samsung enters the Cryptocurrency market with Smart Pay

    Posted: 30 May 2019 04:52 AM PDT

    Bitcoin mining difficulty just hit an all-time high

    Posted: 30 May 2019 05:40 PM PDT

    Fiat is what needs better regulation, the scale of these crimes and scams is way bigger than Crypto. After all, Crypto regulates itself on a pass/fail basis.

    Posted: 30 May 2019 08:28 PM PDT

    Is EOS a Scam? What if crypto fraud is just getting started?

    Posted: 31 May 2019 03:08 AM PDT

    $32 million worth of Longs and Shorts got liquidated at BitMEX

    Posted: 30 May 2019 09:38 AM PDT

    Manipulation is NOT always to blame for swings. Sometimes it's simply lack of liquidity.

    Posted: 30 May 2019 08:27 PM PDT

    Price manipulation happens. It happens a lot in alt coins for pump and dumps. I take issue with people calling every big move "manipulation". Sometimes it is just a large buyer/seller making a transaction on an exchange.

    I would like to think that most whales are smart and use OTC for their translations, but if that's not the case and one was to sell on Coinbase a couple thousand btc would "crash" the market. We have such little liquidity right now it's possible a a few million dollars can move the entire market 5+%.

    submitted by /u/pntbll1313
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    What this subreddit has become lately

    Posted: 30 May 2019 09:48 PM PDT

    LTO Network x Binance Chain. Binance DEX listing proposal started

    Posted: 31 May 2019 01:03 AM PDT

    IOTA's 'Coordicide' whitepaper is accused of plagiarizing NKN's 2018 technical paper (IOTA responds in the comments)

    Posted: 31 May 2019 04:39 AM PDT

    Stock Market Vet and Founder Of Morgan Creek Stands Firm In His Belief That "Bitcoin Is A Better Investment" Than Stocks...

    Posted: 30 May 2019 11:44 PM PDT

    Meetup IOTA & BOSCH in Chicago - Economy Of Things

    Posted: 30 May 2019 08:27 AM PDT

    A Telegram-based Crypto Wallet App Allows Fiat Purchases

    Posted: 31 May 2019 03:53 AM PDT

    Ivan on Tech - Programming MetaHash (MHC) + Interview with Gleb Nikitin

    Posted: 31 May 2019 05:00 AM PDT

    Chainlink: Creating Connected Consensus. Main Net launch

    Posted: 30 May 2019 12:08 PM PDT

    This is what the anatomy of a South Korean sh*tcoin looks like

    Posted: 30 May 2019 11:56 PM PDT

    This is what the anatomy of a South Korean sh*tcoin looks like

    source article

    BOScoin was the first ICO in South Korea and it raised around 6000BTC. Looks like the director and president of the foundation meant to fund and lead the development of the project were opening their own little pet businesses to siphon money out of the foundation.

    Now they are basically cutting out all the dissenters in the community and the foundation itself by starting a whole new project with the foundation's money and airdropping a new ERC-20 (which "won't be used for pump and dump").

    So now one sh*tcoin has given birth to another one. 2 for 1.

    What a sh*tshow.....

    https://i.redd.it/24lodb2evh131.png

    submitted by /u/CoKBrian
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    Most blockchain friendly countries?

    Posted: 30 May 2019 09:47 PM PDT

    I am curious as to which countries are most friendly when it comes to blockchain business.

    If you were to start a company in this industry, where would you look? I'd appreciate suggestions outside of Malta/other "questionable" jurisdictions. I reckon that the USA is off the table due to the SEC but maybe I'm wrong.

    Thanks in advance.

    submitted by /u/Kvisthor
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    Crypto Giant Coinbase Hints at First-Ever U.S. Margin Trading

    Posted: 30 May 2019 02:11 PM PDT

    Bitcoin mining hash rate approaches old highs

    Posted: 30 May 2019 05:29 AM PDT

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