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    Cryptocurrency Daily Discussion - June 11, 2019 (GMT+0)

    June 11, 2019

    Cryptocurrency Daily Discussion - June 11, 2019 (GMT+0)

    Daily Discussion - June 11, 2019 (GMT+0)

    Posted: 10 Jun 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 The prior exemption for karma and age requirements is no longer in effect.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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    Craig S. Wright has been ordered to appear in court in-person in Florida on June 18th

    Posted: 10 Jun 2019 03:18 PM PDT

    Binance, Bancor, Huobi, and more popular exchanges recently joined CoinMarketCap's Data Accountability & Transparency Alliance. After years of unverified data and issues found in CMC (Many of them were found in this sub), this alliance is a big step for a better crypto community.

    Posted: 11 Jun 2019 01:34 AM PDT

    About 75% of EOS transactions are by bots, 50% of accounts are real users

    Posted: 10 Jun 2019 05:41 PM PDT

    Litecoin hits $125 as mining hash rate reaches new all-time high

    Posted: 10 Jun 2019 05:52 AM PDT

    Most recently, Tether and Bitfinex, which owned by the same parent company, colluded to cover up an $850 million loss. Stablecoins are meant to be trustworthy, and their biggest ambassador has failed. Stablecoins have their problems, but some solutions can push the sector forward.

    Posted: 11 Jun 2019 01:04 AM PDT

    Introduction of Aigarth - Come-from-Beyond - Founder of IOTA

    Posted: 10 Jun 2019 09:57 PM PDT

    SEC Sues Kik for $100M ICO Raise — Why This Could Change Everything

    Posted: 11 Jun 2019 01:08 AM PDT

    The SEC has accused Kik of issuing its Kin cryptocurrency as a security without registering it as required under US law. It's a legal showdown that could shape future securities law for cryptocurrencies.

    https://forkast.news/2019/06/11/sec-sues-kik-for-100m-ico-raise-why-this-could-change-everything/

    submitted by /u/Robert_75
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    Just noticed that coinbase selling is now available via PayPal in Canada!

    Posted: 10 Jun 2019 03:50 PM PDT

    EOS voting structure encourages centralization

    Posted: 10 Jun 2019 11:04 PM PDT

    EU Warns Malta of the Dangers of Ignoring Money Laundering

    Posted: 10 Jun 2019 03:00 PM PDT

    LocalBitcoins Stops Operating In Iran Due To Compliance Issues

    Posted: 10 Jun 2019 11:38 PM PDT

    IOTA has one of the top market caps. Why do so few exchanges list it?

    Posted: 10 Jun 2019 04:17 AM PDT

    Genuine question which will probably get downvoted for shilling. I'm just very surprised that exchanges ignore one of the top coins. I know their team aren't that bothered about trading/traders I just thought all exchanges would want to have all the top tokens listed

    submitted by /u/roamingandy
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    O3 wallet introduces "fee-less" purchase of NEO and GAS with new Coinbase integration

    Posted: 10 Jun 2019 05:22 PM PDT

    Join Aergo's Guess & Win Infographic Draw! Only 10 spots

    Posted: 10 Jun 2019 11:19 PM PDT

    Coinbase: Earn DAI while learning about the stablecoin and how it’s generated

    Posted: 10 Jun 2019 10:52 AM PDT

    New Ponzi scheme going around

    Posted: 10 Jun 2019 03:39 PM PDT

    I won't link to the website in question, but someone I know was recently approached by some people in crypto talking about a Bitcoin Mining Wallet where you can a) get around a 40% return on your stake in a few weeks/month b) simply need to send bitcoin to an address you control (note: you don't) and can withdraw at any time. The scheme offers to give you free hashing power to start with (100 GH/s) and then an extra 100 GH/s) for each person you sign up. If people were not around during the Bitconnect days it's worth reiterating that if a scheme is asking you to deposit bitcoin, has unbelievable returns (higher than normal bitcoin mining) and has a referral scheme, it is likely to be a Ponzi scheme using new deposits to pay early users. Once they reach a certain size they will exit with all funds.

    ​

    This scheme also talks about Proof of Stake but states it's Bitcoin Proof of Stakes, which is obviously a 'misrepresentation' of the facts..

    ​

    I haven't seen any such schemes for a while and this one seems to have surfaced in the last month or so, going by the various spammed links on Reddit and domain registered this year. Just thought I would make some people aware in case they see something similar.

    submitted by /u/theabominablewonder
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    Bitcoin Becomes “Money,” One Satoshi Now More Valuable Than Some National Currencies

    Posted: 10 Jun 2019 10:31 PM PDT

    CCN shutting down

    Posted: 10 Jun 2019 08:03 AM PDT

    Aergo Launches ERC-20 Token Swap (1 Way) for Aergo Native - Steps to convert

    Posted: 10 Jun 2019 11:15 PM PDT

    Aergo Launches ERC-20 Token Swap (1 Way) for Aergo Native - Steps to convert

    We will now begin the [optional] 1-way token swap for swapping from Aergo ERC-20 tokens to Aergo native coins. Be sure to read the following before starting your token swap.

    https://i.redd.it/v1pbpwgk4o331.png

    Today, we are happy to announce that we will begin the 1-way token swap for stakeholders to switch from Aergo ERC-20 tokens to Aergo native coins.

    A recap to understand our dual token structure:

    Aergo native coins will be used for utility on the Aergo platform: staking in block producer elections on the main network*, utilizing dApps, executing smart contracts and transactions, and so on.

    Aergo ERC-20 tokens will be purchased through exchanges. Aergo is currently available and traded on exchanges in the ERC-20 token format.

    This token swap for converting from the ERC-20 token format to the Aergo native coin will strictly be a 1-way swap. The Aergo team will offer a 2-way swap functionality at a later time.

    ​

    5 steps for performing the 1-way token swap:

    1. Install Aergo Connect, create your wallet, and get your public address
    2. Submit a signature with your Aergo mainnet public address to the Ethereum blockchain using your Ethereum account
    3. Send your Aergo ERC-20 tokens to the Aergo Organization
    4. Apply for the token swap on our website
    5. Check your Aergo native coin balance on Aergo Connect or Aergo Scan

    ​

    https://i.redd.it/xodlegfo4o331.png

    We'll go through each step in more detail below.

    \Staking for rewards will not be available yet, we will make an announcement when there is more information on this topic.*

    Step 1. Install Aergo Connect, create your wallet, and get your public address.

    Aergo Connect is a Google Chrome browser wallet extension that allows you to manage your Aergo account. You can install it by clicking here

    ​

    https://i.redd.it/udadu19z4o331.png

    Once you have installed the wallet, you will find the Aergo icon on the upper right corner of your Chrome browser screen.

    https://i.redd.it/47qwh5715o331.png

    When you click on the Aergo Connect icon, you will see the button 'Get started'.

    ​

    https://i.redd.it/d82f0gm45o331.png

    Press 'Get started', then set a password for your wallet.

    ​

    https://i.redd.it/zaz3z2r55o331.png

    After setting the password to your wallet, an option to 'Create new account'will appear.

    ​

    https://i.redd.it/txhe8ln65o331.png

    Click the 'Create new account' button to create a new account, and then you'll be presented with the option to choose which network to create your account on.

    ​

    https://i.redd.it/u4syaxb85o331.png

    Select aergo.io, which means the main network (mainnet). Then, click 'Create'.

    An account information screen will then appear.

    ​

    https://i.redd.it/lcd7dqv95o331.png

    The public address of the account created in this example is AmNbNdTAXvnMJ64v6MgYGiDd1EJbNEgKGVjKKHCoUjFZHbUQjFpS
    .

    You should make sure that in the following steps, you use the address of the wallet you created. It's advised that you make special note of the address at this time because you'll need to provide it when you apply for the token swap.

    It's also a good idea to export your private key and keep it recorded it in a safe place in case you ever encounter any problems with your browser or computer.

    Step 2. Sign your Aergo public address using your Ethereum wallet

    In the previous step, we created an Aergo mainnet public address using the Aergo Connect wallet extension.

    Now, you need to to provide proof that you are conducting the token swap — directly from your Ethereum account. This step is a MUST.

    You must sign your Aergo mainnet public address using your Ethereum private key (in other words, from the same wallet that you will send your Aergo ERC-20 tokens from). If there is no proof through a blockchain message signed using your private key, anyone can claim tokens on the mainnet.

    We will walk you through how you can create the signature using MyEtherWallet (MEW). Go to the following page to begin creating the signature.

    ​

    https://i.redd.it/25w37jfc5o331.png

    In this example, we access our wallet using our [sample] private key. This is not the only way to unlock a wallet! MyEtherWallet supports a variety of methods (i.e., Ledger, keystore file), so use whatever method you wish.

    ​

    https://i.redd.it/68st6z7d5o331.png

    If there is no problem with the private key you've entered, you will see a screen where you can enter the text you would like to sign.

    ​

    https://i.redd.it/76anv49e5o331.png

    Enter the Aergo mainnet public address that you generated using Aergo Connect, and press the "Sign Message" button.

    ​

    https://i.redd.it/533szk4f5o331.png

    The text that follows 'sig' is the digital signature: take note of this string.

    The next thing to do is make sure it's been signed correctly. Access Etherscan (etherscan.io) through your browser. If you hover the mouse over More on the top menu, a submenu opens. Press the option Verified Signature.

    ​

    https://i.redd.it/pli9y9kg5o331.png

    On the top-right of the signature verification page, there is the button Verify New Signature. Click on it.

    ​

    https://i.redd.it/chq4qvmh5o331.png

    The page for signature verification then appears.

    ​

    https://i.redd.it/31g6i1ai5o331.png

    The first entry, Address, is where you enter the [Ethereum] address of the account you used to sign the message just now.

    The second is where you enter the signature value.

    The third column is where you enter the public address of your Aergo account created on Aergo Connect.

    The fourth is whether to leave this signature verification as a record. You can choose what you want for this option.

    ​

    https://i.redd.it/b5327l0j5o331.png

    When you press the "Verify" button, the following screen will appear.

    ​

    https://i.redd.it/9bc2066b6o331.png

    If the result is a pass and the message signature is verified: you are now ready to send your Aergo ERC-20 tokens from the wallet you created your signature from earlier, to the Aergo Organization. In the next step, we'll explain how to do this.

    Step 3. Send in your ERC-20 tokens

    The process of sending Ethereum tokens will depend on the wallet program you use and will not be discussed in detail. Wallets with ERC-20 token support makes it easier to send your tokens in.

    The address of the Aergo Organization that you must transfer your tokens to is as follows:

    0x19939C3463B3B9372607908aB6219D491c74511D

    Please confirm that there are no abnormalities in the address before sending your tokens. ALWAYS double-check the address before sending. The address provided above is the only address for you to send your tokens to. If anyone suggests otherwise, they are attempting to scam you.

    If you sent correctly, make a note of the transaction hash of the transaction between the wallet you sent your Aergo ERC-20 tokens from and the Aergo Organization's wallet address. You must provide us with that value in your token swap application.

    Step 4. Fill out the Aergo token swap application form

    Token swap applications for getting Aergo native coins are done on the swap.aergo.io website.

    ​

    https://i.redd.it/qtj8z1om5o331.png

    After transferring ERC-20 token, go to the token swap website and enter:

    • the transaction hash value corresponding to your ERC-20 tokens transfer in Step 3
    • the public address of the Aergo account you created on Aergo Connect, in Step 1;
    • the signature you created earlier in Step 2.

    Then, press the OK button to complete the application.

    ​

    https://i.redd.it/y7d19yhn5o331.png

    If you've done everything correctly, you should receive your Aergo native coins within 6 hours.

    Step 5. Check your Aergo coin balance

    You can check your Aergo native coin balance through the Aergo Connectwallet or the Aergo Scan block explorer.

    It may take some time even if the application is completed because Aergo coins are issued collectively for transactions proceeding more than 120 blocks of ether blocks.

    If you have not received your Aergo native coins after 6 hours, please contact [supports@blocko.io](mailto:supports@blocko.io).

    --

    This article was taken from here and reposted for convenience to our communities https://medium.com/aergo/how-to-swap-aergo-erc-20-tokens-to-aergo-native-coins-539c60d34953

    submitted by /u/Hitherside6d
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    Facebook to Face Another Lawsuit Over its Crypto Ads

    Posted: 11 Jun 2019 03:20 AM PDT

    What Is The Perfect Recipe For A Global Stablecoin?

    Posted: 10 Jun 2019 11:27 PM PDT

    ​

    I won't go into the pro's and con's of each stablecoin and how it works but instead list a variety of different options currently and coming onto the market. Stablecoins are certainly a very interesting concept and will no doubt be paramount to the success of cryptocurrency in the long term as most cryptocurrencies are extremely volatile and not stable enough to use as an every day currency (Well unless they only increased in value of course)

    Last I heard, there were over 30 stablecoins currently on the market and a lot more to come. I won't talk about all of them but one in each category.
    1.Fiat Backed
    USDT is a token named Tether USD (simplified as USDT) that Tether issues based on stable value currency US dollar (USD). 1 USDT equals 1 USD.

    The issue and transaction of USDT are based on Omni (former Mastercoin) protocol. It is a 2.0 currency on the basis of bitcoin. The parameters such as transaction conformation is consistent with those of bitcoin. Users can get USDT in exchanges, or by remitting dollars to the bank account provided by Tether through SWIFT, and vice versa. Furthermore, users can also exchange bitcoin for USDT in exchange.

    Tether strictly follow the fund guarantee of 1:1, which means users' bank accounts will get a dollar fund each time a USDT token is issued. Users can also inquire the fund on the platform of Tether to ensure the transparency.
    2. Commodity Backed
    DGX is am ERC-20 token backed by physical gold that has been fully audited and is stored in a vault in Singapore, known as The Safe House. DGX is fully redeemable at any point of time. The value of each token is fully dependent on the market value of gold. DGX is based on the Proof-of-Provenance algorithm where each gold bar is secured and it's ownership/custodianship status is tracked accurately on the Ethereum blockchain. DGX is scheduled to be audited each quarter (every 3 months), which is a positive indicator.

    3. Cryptocurrency backed
    MakerDAO is an ERC-20 project that has 2 separate coins: MKR & DAI. We will focus on DAI since it is a stable coin backed by other cryptocurrencies. Unlike other stable coins, Dai does not rely on a centralized entity or third party since it lives completely on the blockchain. DAI is a decentralized, cryptocurrency-backed coin with a face value that is pegged to the US dollars. DAI achieves price stability through an autonomous system of smart contracts – called Collateralized Debt Position (CDP) – that responds to varying market dynamics.

    ​

    Reserve Protocol's RSV and RSR will be a hyper-inflation-proof stablecoin designed to retain price parity with the U.S. dollar, enabling people to use it as a replacement for fiat currency. The stable coin offers all of the benefits of blockchain technology, namely cheap, instant and frictionless money transfers to anywhere in the world, with fewer intermediaries and no volatility.

    RSV will be fully backed by collateral and kept in Reserve's vault – a smart contract containing a pool of other blockchain assets used to collateralize the token.
    My question here is what type of stable coin will be the most efficient at keeping a stable price as we go through different stages of financial high's and lows with traditional fiat currencies? I have been a large fan of MakerDAO and am looking forward to seeing it continue forward although I do know there are concerns about making it hard to scale but I do think a truly decentralized stable coin is the most intriguing solution. What are your thoughts?

    submitted by /u/FleeForce
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    Energy Minister in Iran: Bitcoin Miners in the Country Will Not Be Subsidized Anymore

    Posted: 10 Jun 2019 11:09 PM PDT

    5 things you need to check before buying crypto

    Posted: 11 Jun 2019 02:34 AM PDT

    Telegram’s crypto tokens (GRAMs) are going on sale to the public for the first time – TechCrunch

    Posted: 10 Jun 2019 11:08 PM PDT

    Origin Trail (TRAC) - 2019 Project Update

    Posted: 10 Jun 2019 11:02 PM PDT
    Read more
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