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    Cryptocurrency Daily Discussion - August 23, 2019 (GMT+0)

    August 23, 2019

    Cryptocurrency Daily Discussion - August 23, 2019 (GMT+0)

    Daily Discussion - August 23, 2019 (GMT+0)

    Posted: 22 Aug 2019 05:15 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 The prior exemption for karma and age requirements is no longer in effect.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.

    To see the latest or prior Skeptics Discussions, click here.

    To see the latest or prior Support Discussions, click here.

    submitted by /u/AutoModerator
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    A simple diagram showing how Ripple the private company has made billions of USD in last 7-8 years

    Posted: 22 Aug 2019 11:29 PM PDT

    Warning. Elaborate Scam

    Posted: 22 Aug 2019 12:09 PM PDT

    Let's start off by saying I'm an idiot. If something is too good to be true then it probably isn't true. I'm pretty embarrassed about this whole thing. Anyways I will now describe this scam so that it hopefully does not happen to any other potential idiots in the future.

    It all started with u/Montana02115, AKA Dean, reaching out to me on reddit.

    He asked me about NKN and why I thought it was a good project, even though it continued to plummet in value. I gave him an honest response and we chatted about crypto for a while. He said that I seemed like I knew a lot about crypto and that he worked with a team that would participate in private sales (first red flag). He invited me to join their team so we met up on TeamSpeak3. In the first meeting I met the team and we talked (8/20/2019). The leaders name was Laurence Purcell, from England, and there was another guy named Moshe, from Israel. There were another three of them from Israel, three from the Netherlands, and three from the United States. We talked for a bit and Laurence said "if there aren't any objections we would like to welcome you to the team to research upcoming private sales".

    The next day we met again. They sent me a SAFT for Perlin and they were going to buy tokens in the private sale that day (8/21/2019). Laurence went down the chat, from person to person, and asked how much they would like to contribute to the private sale. Moshe sent him 1100 ETH, this is the transaction: https://etherscan.io/tx/0xe1980c7a63a30cd8af8125b671a2b3a635f7f4d10036679614b665071a8f10ca .

    Everyone else sent ETH to Laurence (I believe they were all in on the scam) in vast quantities (supposedly, but I do not have the transaction ID to back that up). The total ETH in the sale was 11000.

    Finally, Laurence got to me. I was hesitant. I'm a college student so I didn't have nearly as much ETH as these guys were boasting. I decided to take the risk and send my ten ETH to Laurence for the private sale. This is the transaction: https://etherscan.io/tx/0x54f241c8b2bcbd53fe0fa2461d9a7eabd9ba0d2bb8dc87d3130f48316994b5ee .

    The next day Moshe sent me Perlin, I believe its a fake token. This is the transaction ID: https://etherscan.io/tx/0x9afdba6f45370bebc6800af7ed2b2c0b78c77bf0dca575e618728d33d368fd0c .

    This is the contract address of the Perlin token, which I believe is fake: https://etherscan.io/token/0x194c66afbe810600a33d80ae276bcd2556063b37#balances .

    At first I thought, "Oh Binance holds some, it must be legit!" But then I remembered that anyone can make a fake token and send it to Binance's wallet. I did some more digging and I found out that Perlin hasn't even had the token generation event yet.

    I brought this up to Dean (u/Montana02115) and I was immediately banned from the GroupSpeak. At this point I realized I had been scammed. I messaged Dean on reddit and I told him that I wasn't accusing them of scamming me and they let me back in the group.

    The next day they were supposedly doing the private sale for sovrin (which also hasn't had a TGE yet lol). I decided to skip this private sale to see how they reacted. Dean messaged me when I wasn't at the meeting and asked why I wasn't participating. He exclaimed how good of an opportunity it was. I gave him some bullshit excuse. The next day Dean messaged me again and said that a lot of the team wasn't around for the sovrin private sale so they were gonna hold it today (obviously bullshit, they just needed me there so that they could take me money). I got on the groupspeak today and Laurence said they had some left over sovrin from yesterday (two stories that didn;t add up) and they asked me if I wanted to buy some. I said I was low on funds and he immediately banned me again.

    So there's the scam. I went from thinking I had the opportunity of a lifetime, being a big shot crypto researcher to having no crypto left. lol the irony, watch out guys, these scams are elaborate.

    I have Laurence's and Moshe's phone numbers from Whatsapp and Laurence's email, will look into what I can do moving forward.

    TL;DR: Elaborate crypto scam where private sale investment team asked me to join them, took my ETH, and gave me fake tokens.

    submitted by /u/IdkWutImTalkingAbout
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    Employees connect nuclear plant to the internet so they can mine cryptocurrency

    Posted: 22 Aug 2019 04:24 PM PDT

    Cryptocurrency Exchange Introduces Block Trading for Derivatives. Deribit, an exchange for futures and options on Bitcoin and Ethereum, is partnering with Paradigm. Seeking to drive the market closer to the mainstream.

    Posted: 23 Aug 2019 01:05 AM PDT

    Band Protocol, connecting real-world data to dApps

    Posted: 23 Aug 2019 01:28 AM PDT

    Stop using number of git commits as any metric for anything, it's idiocy

    Posted: 23 Aug 2019 02:02 AM PDT

    Stop measuring git commits, it is stupid! On so many levels and from so many perspectives is number of commits a super duper terrible metrics.

    Before I argue my statement, I would like to say that of course, it looks bad with absolutely NO public activity from developers over a long period of time (6-12 months). I say 'public activity' because there can be activity, as in code being written, without it being public. More about that below.

    Some folks seem to be very keen on using the number of commits as an indicator for the success of a project. There are sites highlighting these irrelevant metrics, e.g. https://www.cryptomiso.com/

    Short about me:

    I have a masters degree in computer science and I've worked professionally as a developer for 9 years. I have developed two crypto libraries, one crypto wallet and I'm working on my second one. I will not mention which ones, primarily because it is irrelevant, secondly, I don't want this post to be downvoted for shilling any specific crypto project.

    First let's re-iterate some important concepts

    VCS (Version Control System), `git` is the most popular. `svn` is another, but older and not as used any more

    Git is a VCS protocol, nothing else. Git is not Github. Github uses git

    Github: is an American for-profit company owned by Microsoft (bought in 2018), it is one of the most popular code hosting platform using the Git protocol

    Gitlab: an alternative to Github

    Bitbucket: an alternative to Github, owned by Atlassian, who also develops Jira.

    More info about Git:

    "git commit": A commit is like a bookmark, when you read a book, you can either use a bookmark on every page, or read the whole book without any bookmarks. The commit is just saved locally only your computer until you "git PUSH", see below

    "git push": Sending your local commit or commits to any remote git repo, which is a project hosted by any code hosting platform, e.g. Github.

    "git squash": Some people like to do many commits while coding, but just prior to pushing the code, they "merge" together all commits into a single one.

    "commit --amend": Let's say I just commited a change in the README, and then I noticed that I misspelled a word, then I can fix that commit (changing it), and fixing the misspelled word, by using `git commit --amend`. Some developers do that, other just fix the misspelled word in a new commit. The difference is that `git commit --amend` results in one single commit (changed), whereas the latter results in two commits.

    Different methodology, but same code:

    How often developers commit differs A LOT, and I mean completely. Personally, I tend to code for a couple of hours, days or even weeks without making a single commit (frowned upon by some). Whereas other developers might commit any changed line of code. When the code gets pushed to the VCS remote repo (e.g. Github), it is still the exact same code. But coming from me it can be a single commit, but coming from Alice it can be 1000 commits. Same code but a difference in a number of commits by 3 orders of magnitude.

    Git squash

    In the example above, maybe Alice committed 1000 times (whereas I committed once), but Alice also likes to have one single commit per feature/bugfix/improvement she is working on, so she git squashes and merges all here 1000 commits one. So now Alice method and my method ARE EXACTLY the same, when the code is pushed to GitHub. But it is impossible for us others to know that Alice single commit, actually was 1000 commits prior to being squashed.

    Private repo's

    Even though most crypto projects are open-source, some code might not be open-sourced at first, but might be at a later point in time, so these repositories will be hidden from the public, thus there can be a lot of activity in a certain project without the public knowing about it.

    Personal repo's

    Even though most companies/projects have all their repositories under the same organization in the VCS code hosting platform, some repo's relevant to the project might not be. E.g. if you look at Bitcoin's page on Github, you will find 4 repositories: https://github.com/bitcoin but some of its core developers might write experimental code in separate personal repo's (that might be private). Or repos not yet pushed, i.e. code sitting locally on her computer.

    Forks

    When Alice codes in a distributed project with many contributors it might be most suitable for her to not be using the projects repo directly, but rather a personal version of the whole code project, known as a fork (please not that this has nothing to do with 'forks of a DLT (e.g. blockchain)', as in spawning a new version of said crypto project, e.g. Litecoin and Bitcoin Cash being forks of Bitcoin, I'm talking about 'git fork' here). So Alice codes away in any branch, any number of commits, or a single one, in her own personal (git) fork of e.g. Bitcoin, her own repo. Then after some time (hours, days, weeks, months), she creates a Pull Request to the 'upstream repo' (original/source repo), and if other developers are happy with her work, it gets merged. So there might be activity, many of few commits, in another git repo, being a fork of the original one. The bitcoin C github repo currently has 23,958 git forks: https://github.com/bitcoin/bitcoin/network/members that's actually so many that Github displays this message "Woah, this network is huge! We're showing only some of this network's repositories". So in order for you to KNOW that there is NO activity for any developers, you would actually need to go through ALL forks (in this case ~24 thousand) of a repo to see that there have been no commits done recently. But as stated above, not even that is enough (the commits might not have been pushed yet, right?)

    Irrelevant "wash" commits

    I just coined the term "wash commits", so don't google it (you will only get images of jeans...LOL). Just like there are wash trades, faking volume, any developer can either manually or using some trivial script, at a regular interval just add some character, e.g. a space, in any file of a project, git commit and push that change, and then perform another git commit removing said newly appended character. Then it will look like the project has activity. Hell, you can even do this in 10,000 commits daily, "Wow man! Look at all that activity! This crypto project is the best!" - well, no.

    No squash and no amend

    Two developers, Alice and Bob, neither uses `git squash`, but Alice uses `git commit --amend` to fix typos an other smaller changes, but Bob does not. Since neither uses `git squash`, over a long period of time this might result in a huge difference in the number of commits.

    Rebase vs Merge

    When Alice and Bob, working in the same repo, wants to merge together their different features they have been working on, they can do so by using two different methods, either `git merge` or `git rebase`, they former results in one extra commit, a commit of the merge event itself, whereas the latter does not result in any extra commit. These are different styles of working and often debated which is to prefer. Over a long period of time this might result in a huge difference in the number of commits.

    More LoC, worse

    LoC = Lines of Code. The more lines of code, the worse, okay. Many LoC is NOT at all, in any way, a good thing. The theoretically (however, of course, impossible) best code base, is the code base with 0 lines of code. It is trivial to maintain, you just have to do... nothing. It contains NO bugs. Code is in its natural state buggy. So many commits ADDING new code are not always good. Better with commits removing code, given the same functionality.

    "But but but... how can I easily determine which crypto project is best by looking at Gitlab/Bitbucket/Github?"

    Well you can't, that is my point. But if you want some tips of what to look for, using these metrics are actually relevant:

    1. Number of contributors
    2. Number of forks
    3. Number of stars
    4. Number of pull requests (PR for short, called "Merge Request" in Gitlab), and how many of them are open? How fast does a PR get merged?
    5. Last commit date: WARNING for false positives! Remember "wash commits" (mentioned above), if the last commit date is recent, it does NOT necessarilty mean that the project is active, have a look at the commit. Does it look trivial or not? A trivial commit is e.g. a commit adding a newline/space in the README.
    submitted by /u/Sajjon
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    Bitcoin Price ‘Will Never Hit $50K’ Gold Bug Peter Schiff Tells Tom Lee

    Posted: 22 Aug 2019 04:41 AM PDT

    Three drug lords have their Bitcoin and Litecoin addresses blacklisted by US Treasury

    Posted: 22 Aug 2019 11:22 PM PDT

    Billionaire VC Tim Draper: "Bitcoin Will Affect Industries 10 To 100 Times Bigger Than Internet Had"

    Posted: 22 Aug 2019 07:35 AM PDT

    Star Trek branded digital collectibles to begin being auctioned on Ethereum on August 29th

    Posted: 23 Aug 2019 03:43 AM PDT

    Coinbase Now Allows You to Access Dapps on Desktop Browsers - CoinDesk

    Posted: 22 Aug 2019 07:13 PM PDT

    Ball Marker at my Local Golf Course

    Posted: 22 Aug 2019 04:10 PM PDT

    Booking.com CEO: Cryptocurrencies Would Be Massively Adopted

    Posted: 23 Aug 2019 02:36 AM PDT

    Weiss crypto rating agency says Cardano is 'better' than Bitcoin. Silly?

    Posted: 22 Aug 2019 06:19 PM PDT

    Facebook Libra Backers Consider Quitting due to Regulatory Pressures

    Posted: 23 Aug 2019 03:19 AM PDT

    New CryptoCrossword Puzzle Released

    Posted: 22 Aug 2019 08:28 PM PDT

    I made this for a class about web development. Its a crossword puzzle, the first person to solve it wins all the $ in the wallet its connected to.

    www.cryptocrosswords.com

    Prize is worth a modest $5.70 right now but thought you guys might be interested.

    Good luck solving! Last time someone solved it in about 35 minutes, not sure how long it will take this time.

    submitted by /u/jasfad
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    Most Read News Site In Australia Just Said Gold & Bitcoin Are A Good Hedge!

    Posted: 22 Aug 2019 03:56 PM PDT

    Anyone want to donate to the charities Amazon Watch or to the Rain forest Foundation US, to help with the preservation of the Amazon Rain forest?

    Posted: 22 Aug 2019 11:11 AM PDT

    They accept crypto. I am going to donate, but tbh it feels tiny like a drop in the ocean. Anyone else want to join me to really make it count? I leave you guys the websites so you do your research to really make it count;

    https://rainforestfoundation.org

    https://amazonwatch.org/donate

    submitted by /u/DONT_CALL_ME_NEGRO
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    Beware of Crypto-Bridge exchange

    Posted: 22 Aug 2019 11:23 PM PDT

    They are very weak technically and also have big delays in fixing their problems (refunding users that did buy non-existing tokens). Their so called "DEX" is a proxy DEX, meaning you don't really trade the token you deposit, but a substitute proxy-token. The thing is they do not check for the proxy token to match the orig blockchain token numbers/amounts, which caused some users buy non-existing coins. Problem with that exchange last for 6 months already and they even didn't plan the action to refund users ASAP.

    submitted by /u/passcombo_com
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    PundiX's Crypto Cash Registers Will Be Installed in 49 Retail Stores Across Venezuela - CoinDesk

    Posted: 22 Aug 2019 01:17 PM PDT

    Kishore M : My Mission is to accelerate the world's transiton to adoption of Blockchain and Crypto's

    Posted: 23 Aug 2019 03:29 AM PDT

    Which exchanges do you recommend after the Binance AWS issue, which also affected KuCoin, Bitmax, etc.

    Posted: 23 Aug 2019 03:24 AM PDT

    Which exchanges do you recommend after the Binance AWS issue, which also affected KuCoin, Bitmax, etc.

    The binance exchange's AWS issue results in the error in deposit and withdrawal. What is worse is that Bitmax's orderbook is broken, and there was a deep dip and people could buy the $8000 bitcoin cause the market makers failed to provide the liquidity caused by the API bug of Binance. Bitmax's also planning to roll back the data, and stopped users from trading nor withdrawing, which I think also sucks.

    https://i.redd.it/l72xyishc6i31.png

    Is there any better exchange to choose where the liquidity is good, safe, and stable? I'm planning to deposit a part of my assets out of binance.

    submitted by /u/JeremyPeng
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    The Actual Level of Bitcoin Dominance Will Shock You

    Posted: 22 Aug 2019 03:46 PM PDT

    Real World Adoption of Blockchain.

    Posted: 22 Aug 2019 04:25 PM PDT

    Patrick Byrne - resigns, deepstate, men in black, tzero. Oh my!

    Posted: 22 Aug 2019 07:00 PM PDT
    Read more
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