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    Cryptocurrency Daily Discussion - June 13, 2019 (GMT+0)

    June 13, 2019

    Cryptocurrency Daily Discussion - June 13, 2019 (GMT+0)

    Daily Discussion - June 13, 2019 (GMT+0)

    Posted: 12 Jun 2019 05:14 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 The prior exemption for karma and age requirements is no longer in effect.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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    Does anyone cringe at their texts from January 2018 ?

    Posted: 12 Jun 2019 07:57 PM PDT

    STAY AWAY from Gemini. Their fees are now a ridiculous 1.5% plus a convenience fee

    Posted: 12 Jun 2019 11:54 AM PDT

    They are trying to milk this shit hard. Most people aren't aware of these fees and so I thought I might post this. Their convenience fee is 0.5% which adds to a total of 2%.

    On the Gemini app, it's even worse. In total, the fees could be anywhere from 2-2.5% which is absolutely ludicrous compared to the rest of the competition.

    submitted by /u/eth_trader_12
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    Presenting evidence who is/isn’t Satoshi Nakamoto. Do with it what you may...

    Posted: 12 Jun 2019 07:30 PM PDT

    So, I found a gem, that clearly indicates Craig Wright is not Satoshi Nakamoto. How clearly you ask? This sort of shit can be admissible forensic evidence.

    I'll cut straight to it:

    One is an Australian, the other, David Kleiman an American. Certain words in English are written one way if you're British, Australian or Canadian, and another if you're an American.

    If you go through Satoshi's original posts in Bitcointalk.org without fail, words are spelled the American way: Minimize, Maximize, and the more dead giveaways such as "Color" amongst others.

    S (British) is replaced with Z (American) Ou (British) is replaced with O (American)

    Satoshi writes in American English. But this wasn't enough:

    off I go on Craig Wright's personal blog. In the very first post I see, the very first god damn paragraph spells realize as: "realise"

    I do more digging and it keeps coming. The man, unsurprisingly spells things the British way.

    Imagine the irony? The man — of which last name is Wright (sounds like write) — is finally caught lying by how he writes.

    Kudos to my wife, who majored in English lit and engrained in me this little nugget of knowledge.

    submitted by /u/EccentricHarbinger
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    Interesting piece of data to see the last months in long term.

    Posted: 13 Jun 2019 01:44 AM PDT

    This thread is ALL you need to know about cryptocurrency in China!

    Posted: 12 Jun 2019 07:48 PM PDT

    Hi guys, lived in China for a year before. I speak, read, and write Chinese fluently and I'm a westerner, like you guys. a ton of "crypto news sites" aren't really news sites, they're just desperately trying to get you to click on them for their profit. So this thread exists to simplify your understanding of owning crypto in China. After today, you can downvote any bull shit news articles that mention something "revolutionary" about Crypto in China, unless maybe we see it come from yahoo, CNBC, or Forbes.

    -China doesn't care if its people own crypto or not.
    -Using crypto to buy real things / services is illegal. a car wash / taxi ride / your lunch at a restaurant, doesn't matter.
    -"Sending" someone crypto is perfectly fine. It's a friend/family member's birthday. Ok. Let me send them a litecoin. just fine.
    -Purchasing crypto with Chinese Yuan is, for the most part illegal, but somehow Huobi gets around this.
    -Blockchain Technology is not cryptocurrency. If you see an article that mentions blockchain in China, it is not relevant to cryptocurrency in China in any capacity. The Chinese government views blockchain as a method to enhance security / ensure an immutable method of tracking what the people of China do, be it searches on Baidu (CN google equivalent), YouKu (CN YouTube), or just tracking shipping and supply chain management.
    -I could see the Chinese government one day opening up to crypto even if it is only a list of a few cryptocurrencies under speculative investment pretenses. It's a way to make money, but they don't want their own people to get rekt the way they did when the Chinese stock market crashed a few years ago. They opened up the stock market to plebs and a bunch of people invested in useless stocks and lost money.
    -Mining: The chinese government will allow miners to use electricity to mine as long as the miners have the proper papers in order for large scale mining. You might have heard about this school's principal who was fired for using school resources to mine Ethereum? The electricity used to mine Ether here was meant for the school and was specifically subsidized for the school, not mining Ethereum.

    If you have any questions, post them here. I may update this thread later on.

    EDIT Reason: Clarification and formatting.

    EDIT 2: Forgot to mention the state of mining in China.

    submitted by /u/sgtslaughterTV
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    Leadership in a Decentralised Business World

    Posted: 13 Jun 2019 02:53 AM PDT

    Bittrex to Expand to Euro Markets, Lowers Trading Fees for US Customers

    Posted: 12 Jun 2019 02:50 PM PDT

    How can I, a 17 year old, invest in cryptocurrency?

    Posted: 12 Jun 2019 03:48 PM PDT

    Howdy everyone! I'm a high school student who can't get any job right now (personal reasons) and I have $5 and was thinking I could probably invest in something, and the first thing that came to mind was investing in a cryptocurrency. Problem is I have no idea where to start! If anyone could point me in the right direction I'd appreciate it so much, thanks!

    ​

    -Kiwi

    ​

    Edit: Thank you for all the help! I've gotten an ark wallet going and will save up some more money before I properly invest in anything!

    submitted by /u/Kiwi_birds
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    Warning -- MetalPay is a Total and Utter Scam

    Posted: 12 Jun 2019 12:59 PM PDT

    I love crypto and I've been in the space for years so when I saw a company with FDIC-insured deposits (on cash) and an ability to earn crypto rewards for exchanging money I jumped on it. I use Venmo a lot with my parents to exchange money so I got them signed up.

    It was working great until I tried to withdraw my money. I was able to withdraw a small amount successfully, but I cannot withdraw most of my funds. It's been over a month now and my family has over $1,000 stuck on Metal Pay. Understandably my parents don't want to sync their banking information since I can't withdraw any of my money. It's just a nightmare and their support team is a total joke. They won't respond for days and say they're having "technical issues".

    I don't know if this is intentional fraud or just a company run by absolute idiots, but it's simply unacceptable to not respond and withhold a 4-figure sum from someone for a month. I run a company myself and would process a refund of $5 if it was brought to my attention. Stay away from this app and the hassle.

    submitted by /u/FollowMe22
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    Square Hires Ex-Google Director as First Member of New Crypto Team - CoinDesk

    Posted: 12 Jun 2019 04:49 PM PDT

    Switcheo Adds PAX/DAI and USDC/DAI Stablecoin Markets

    Posted: 13 Jun 2019 02:25 AM PDT

    What is Binance's/Kraken's/Bitfinex's response to FATF ruling requiring ID on anyone sending $1,000+?

    Posted: 12 Jun 2019 11:20 AM PDT

    Who Are Cryptocurrency Users? How Do They Use Crypto? Join Research!

    Posted: 13 Jun 2019 01:51 AM PDT

    Over 90% of cryptocurrency users believe that crypto payments are safe and they will become more and more popular.

    ​

    BitBay and BitBay Pay surveyed 2,582 Polish cryptocurrency users on how do they use crypto. Below you can find a link to check the results.

    https://medium.com/bitbay-pay-blog/who-are-cryptocurrency-users-how-do-they-use-crypto-6609736651fb

    ​

    Now it's time for getting a broader perspective. Help us to create a profile of a cryptocurrency user.

    Join our research!

    submitted by /u/bitbay
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    Charlie Lee: I Won't Buy Back My Litecoin 'At All'

    Posted: 12 Jun 2019 08:29 PM PDT

    NavCoin cold staking platform “NavPool” officially launches

    Posted: 12 Jun 2019 06:43 PM PDT

    Crypto Loans Reach More Than $110 Million with $88 Million Outstanding

    Posted: 12 Jun 2019 08:10 AM PDT

    Global Economy Is Hanging by a Thread, Claims Latest World Bank Report

    Posted: 12 Jun 2019 04:59 PM PDT

    How does Tether go into the economy?

    Posted: 12 Jun 2019 02:37 PM PDT

    When they mint new Tether how does it enter the crypto economy? Do they send it to an exchange and create their own orders? For example, the $150 million new Tether minted recently, would they for example put up buy orders for other coins? If anyone can link me to an article to explain how it goes from their treasury accounts to an individuals would be great.

    submitted by /u/Illuminaughtie
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    Coinbase Expands Cryptocurrency Visa Debit Cards Across Europe

    Posted: 12 Jun 2019 03:25 PM PDT

    Radix DLT - 10 years of Bitcoin history, replayed in under 30 minutes

    Posted: 12 Jun 2019 07:14 AM PDT

    Radix DLT - 10 years of Bitcoin history, replayed in under 30 minutes

    Today we replayed the entire 10 years of Bitcoin's transaction history on the Radix ledger, with full transaction and signature validation, on a network of over 1,000 Nodes distributed evenly throughout the world.

    For the first time since the creation of public, trustless networks, we have demonstrated a technology that can truly support even the world's most demanding transactional applications.

    ​

    https://i.redd.it/0x4hst5tnx331.png

    The Result?

    The Radix ledger peaked at over 1 million transactions per second, a record for decentralized ledgers. It is even faster than other centralized and established payment processors like Alipay, WeChat and PayPal to name a few. The whole dataset was processed in under 30 minutes.

    We were able to achieve this due to Radix's unique design. Instead of using Blockchains or DAGs, we started from scratch, building a new database and consensus mechanism called Tempo that can scale to support 7.5 billion people and 500 billion devices, simultaneously.

    After 7 years of research and development, many dead ends and sleepless nights, today represents a significant milestone in the Radix journey. We can proudly say we've built a full state-sharded decentralized ledger that is massively scalable without compromising on security.

    To validate our engineering we have decided to run a series of public network throughput tests in an open, transparent manner, that anyone can verify and see happen live.

    We decided to use Bitcoin as our data source because it has processed a large number of transactions over the last decade (over 400 million transactions and 460 million addresses) and is an open, fair and transparent data set.

    As a comparison, you could run applications like VISA, PayPal, WhatsApp, WeChat and more, simultaneously on the Radix ledger, without breaking a sweat.

    The first public test happened today 14.30 London time.

    The time and date of our next live test can be seen on our explorer. Make sure you also have your bitcoin addresses ready, as when the test is running you will be able to add in your address and see your transaction history replayed in real time.

    These tests will run approximately every week from now! Feel free to join our newsletter and get notified.

    Interested in how we did it?The following technical blog posts explain our methodology and the step-by-step chronology of how we achieved this throughput.

    Lastly, if you have any questions, or just want to follow us as we go towards the mainnet, feel free to follow us on socials or join our telegram/discord groups.

    submitted by /u/Witos89
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    Smartlands launches first tokenised STO in the UK!

    Posted: 13 Jun 2019 01:29 AM PDT

    Created a gif about the potential banning of Bitcoin mining to protect China's yuan from my animated Bitcoin video

    Posted: 12 Jun 2019 09:10 PM PDT

    Cryptocurrency Taxation Australia - 2019 Crypto Tax Tips

    Posted: 13 Jun 2019 12:26 AM PDT
    Read more
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