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    Cryptocurrency Daily Discussion - April 15, 2020 (GMT+0)

    April 15, 2020

    Cryptocurrency Daily Discussion - April 15, 2020 (GMT+0)

    Daily Discussion - April 15, 2020 (GMT+0)

    Posted: 14 Apr 2020 05:12 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 The prior exemption for karma and age requirements is no longer in effect.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 prior Skeptics Discussions, click here.

    submitted by /u/AutoModerator
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    Central Banks Recommended to Ban Stablecoins

    Posted: 14 Apr 2020 07:15 PM PDT

    The "Busting COVID" NFT art auction is going strong! 3.65 ETH total bids received so far with 3 days left to bid.

    Posted: 15 Apr 2020 12:30 AM PDT

    Top items so far:

    #1 Captain of the Spaceship Ethereum (0.6 ETH)

    #2 Ben (0.6 ETH)

    #3 Ethereum genius (0.5 ETH)

    Runner ups:

    #4 Person eating their own dick on national TV (0.45 ETH)

    #5 Hey hey heeeeey (0.4 ETH)

    Where do the funds go?

    100% of the proceeds from this sale will be donated to COVID-related causes. The funds are split evenly between the following five Gitcoin grants:

    Giveth / Fight COVID-19

    Grassroots Economics

    Mask + Test Kit Mutual Aid Fund

    CuraDAO COVID-19 Campaign - Remote & Thriving

    Open Source Covid Ventilators + Masks

    submitted by /u/berndtzl
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    The (Biggest) Ultimate 2020 Cryptocurrency Resource List [300+ Resources!]

    Posted: 14 Apr 2020 10:51 PM PDT

    First images of China’s digital currency are emerging, including the revelation that it can also be sent offline.

    Posted: 15 Apr 2020 02:23 AM PDT

    Judge gives Craig Wright 3 days to hand over 11,000 documents

    Posted: 14 Apr 2020 08:39 AM PDT

    Andreessen Horowitz aims to raise $450m for second cryptocurrency fund

    Posted: 14 Apr 2020 11:51 PM PDT

    An anonymous Crypto Exchange I think people might like

    Posted: 15 Apr 2020 04:03 AM PDT

    Hello guys I have been following a Crypto project since December 2019. I like how it has developed and I have spoken to the team behind it. I feel it is worthy of consideration.

    I showed them the feedback from my previous post and this is what the project currently looks like.

    The name of the exchange is Crypcore and this is what they are offering:

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    • No KYC, Anonymous Crypto to Crypto Exchange.

    ​

    • Offering the first stable coin forked from Monero ( i.e. Crypcore USD).

    ​

    • Anonymity: Crypcore Exchange will be anonymous and will offer anonymous crypto to crypto trading (there won't be any Fiat, everything is purely crypto)

    ​

    • User deposits will be insured by the exchange using revenue.

    ​

    • The Insurance funds will be shared among the users if there is a hack or loss.

    ​

    • Part of the insurance funds will also be shared among users when there is a massive bear run in the crypto market ( Yet to get the specific terms from them).

    ​

    • Bot Free: There won't be bots on the Crypcore Exchange.

    Tell me what you guys think. I think they deserve more support from the crypto community.

    Disclaimer: I am part of their bounty program.

    submitted by /u/Ilovesansa
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    Huobi Global are keeping coins hostage! Limited Supply trading must end!

    Posted: 14 Apr 2020 09:30 AM PDT

    Huobi Global are keeping coins hostage! Limited Supply trading must end!

    I'm part of a cryptocurrency community that have been waiting for over 6 months for Huobi to swap their tokens to the mainnet, and others have waited years for the same thing. About a week ago, I decided to stop relying on the Foundation of the coin to try and get the swap done and handle it on my own, only to be met with total ignorance and incoherence in Huobi support.

    Details:

    https://np.reddit.com/r/FusionFoundation/comments/g0otxv/huobi_refuses_to_act_copies_of_emails_between/

    They're practicing limited supply trading on the coins. This means that they close off deposits/withdraws but keep trading open. Trading then happens only on a limited supply (which they likely own 95%+ themselves) and are able to manipulate the price however they wish. Huobi are currently doing this to a handful coins, and have a history of doing it over and over again. It doesn't seem like they plan to stop.

    If you think this such practice should be illegal and that coin-owners need to always be allowed to hodl for themselves, sign the petition to show your support.

    https://www.change.org/p/ministry-of-trade-industry-huobi-s-closed-off-trading-endangers-freedom-of-ownership-it-must-stop

    https://preview.redd.it/ydqixhuq8ts41.png?width=1222&format=png&auto=webp&s=8e51167b158dc7c76e3a2f774257096e530415ae

    submitted by /u/IndividualPirate
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    Did I just get scammed?

    Posted: 14 Apr 2020 05:13 PM PDT

    Huobi Unveils On-Chain Analytics Software to Track Illegal Cryptocurrency Transactions

    Posted: 15 Apr 2020 04:33 AM PDT

    Stable coins getting banned - G20 regulation

    Posted: 15 Apr 2020 04:30 AM PDT

    Before I discuss any further I want you to remind what was discussed in December 2019 where Christine Lagarde touched the subject "stable coins". Take a look at the video
    Time stamp of the video 57:13

    https://youtu.be/ucuSp2QiK_I

    Pretty much they don't consider bitcoin as a danger but in fact they consider stable coins as a danger. She mentioned that they gonna get ahead of the curve on the stable coins and then immediately started discussing digital payments in the EU across European Banks and it is becoming a very severe situation with central banks pushing digital fiat. And that tells us that as it is the current situation with negative interest rates, central banks wants us to have an account in the bank so they can charge us negative interest rates, instantly, and force us to go and spend money, pretty much they can control our behavior with a click of a button.
    So since this press conference there was not that much of a news regarding stable coins but it came that day where they are going to pretty much ban them. They are forcing a new G20 regulation.

    Stablecoins continue to grow, we also saw some new stable coins launching in the past year. Different stable coins with different mechanics, some of them are backed by real fiat (dollars) and some of them are just an algorithm that keeps the value of the coin at $1 stable, a real example of this is Dai.

    https://cryptobriefing.com/central-banks...ablecoins/
    I came across this article this morning. Financial Stability Board that is hosted by the Bank of International Settlements and it is also in high connection to the G20 are basically saying all countries have to ban stable coins because is no way that these stable coins can comply with even portion of the rules that they are imposing.

    Quoting
    "The Financial Stability Board (FSB) outlined ten recommendations to central banks for regulating stablecoins, including outright prohibition." - I think this will be implemented real quick, I would say by the end of 2020 this might happen because it is in direct competition with digital fiat and they are not letting that to play by itself in the "free market".

    Quoting
    "The FSB is an international entity that provides suggestions on the global financial system." - In many cases the regulation is put in place not to protect the consumers that is the biggest lie in all the regulations. They pretty much are saying, regulation is here for you, the consumer, in reality the regulation is there to protect the monopolies because you have to understand when you are a new company you are a new organisation and you becoming big. Question is why do you become big? Well it's simple because you've been working hard because you invest in research and development because you served the marked very well and all this is expensive but it's well worth.

    But the thing is when you become big enough when you become global, when you become powerful you have the choice to either continue investing in creating better services, competing on the markets allowing newcomers to compete with you and just being a normal participant in the free market as everyone else OR you have the choice to invest some money in lobbies and try to lobby for a regulation, try to build up the defense around your business model so nobody can compete because nobody has the resources nor the man power nor the knowledge to be the part of your walled garden because you have built up all this regulation and as you see it is very clear that this is whats going on right now. The fact that they are protecting the consumer, this and that, but in reality they are also admitting that this is in direct competition with their own system with their own power. It is very important to note that whenever you hear these regulation you have to understand that they are selling it to you and acting like they are defending you, so you don't revolt about monopolies because it's all about you ...

    I even believe in their "meetings" they are discussing a lot how they will keep the "people working paying taxes don't ask any question", "we can do our monopoly defending through regulation because they think we are defending the people and by the way we also gonna do central banking" which is the fact that you get people with high credit scores getting cheap loans getting cheap money and we see this wealth transfer from poor to rich, the Cantillon Effect(google it to understand better what is this). This all is marketed and positioned in media as something good for all of us but in reality it is not. It's all about keeping their monopolies and their system.

    Quoting
    "The recommendations are to be presented before an audience of G20 countries, and reference major stablecoins, including USDT, USDC, TUSD, PAX, and DAI (DEFI). Given the market's heavy reliance on stablecoin, a ban could mean disaster for Bitcoin and the broader cryptocurrency market." - Let's see what kind of arguments they have, why do they want to ban stable coins and at least regulate them to death. It is not necessarily that they are going to ban but it's that the regulations are impossible so it is a ban pretty much.

    Quoting
    "The FSB's primary focus is on the potential risks that stable coins could pose to global financial stability" - This bothers me so much, apparently the financial system is so brutal it is so vulnerable that we need to have all these guys protecting it all costs and when you have some stable coin project it needs to be removed because it threatens the stability. It really brings the question how vulnerable is this whole financial system why is it so unstable? Whenever new invention you have, whenever new startup, you always have to ensure that it doesn't threaten the stability ...

    They are basically saying that because retail investors are getting in all these stable coins it means if one of these stable coins exit scams or something else happen it means that that particular retail investor that bought a stable coin will feel poor it will feel like they don't have money and they will not spend in the economy so thus the financial sta

    submitted by /u/nilesh
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    Exchanges and coin ranking sites are misleading beginners into buying worthless alts

    Posted: 15 Apr 2020 04:23 AM PDT

    I think exchanges and coin ranking sites are making a massive disservice to crypto in general, by allowing worthless altcoins to appear like a "great deal" to beginners.

    For example, I know many of my beginner friends who think coins under $5 are a great deal, because "they might go to 10k like bitcoin".

    That is obviously impossible, because most of these coins are centralized, owned 60%+ by the founders, and because these coins have 1,000,000,000+ supply. They'll never go to to $10k, let alone $100. They're actually already ridiculously overpriced, having made their creators "paper billionaires" even though their "cryptocurrency" has basically 0 users.

    Coin listing sites are also hiding the real supply by allowing unlocked coins to be "out of circulation" even though there's nothing technically or legally keeping them out of circulation. They are IN circulation by any legal or technical definition.

    Yet beginners think these altcoin founders will be soon worth "trillions of paper $", because exchanges and coin ranking sites are misleading them.

    I'd really like some journalist to actually cover this and pressure exchanges and coin listing sites in changing their shady behaviors.

    submitted by /u/cannotbecensored
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    IOST – Unchecked JavaScript Class Crashes Miners

    Posted: 15 Apr 2020 01:38 AM PDT

    What's your favorite privacy coin/project?

    Posted: 14 Apr 2020 07:39 PM PDT

    With all the talk surrounding coronavirus/privacy/tracking etc, It's got me thinking about what we can do to protect ourselves from the all-seeing eyes. What's the latest in privacy tech out there? I know Monero kind of started the whole privacy movement in crypto but are there some newcomers taking it a step further?

    Who is building the tools that are going to keep up safe as we go into a more surveillance future?

    submitted by /u/Loooong_Loooong_Man
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    A surge in fake browser extensions targets users of Ledger, Trezor, MEW, Metamask, and more

    Posted: 14 Apr 2020 03:51 PM PDT

    How Bitcoin’s Correlation with Stock Market and Gold Faces the Biggest Test of Time

    Posted: 15 Apr 2020 03:45 AM PDT

    Making Self-Custody Easy: ShapeShift Acquires ETH-based Portis

    Posted: 15 Apr 2020 03:05 AM PDT

    Would you say Crypto is a good long term investment?

    Posted: 14 Apr 2020 09:24 AM PDT

    Background: I invested back during the big surge when bitcoin was going super crazy. It fell and I lost a bunch of money, so I thought that I would treat it as a long term investment. 2 years pass and the amount I have has remained mostly constant as I'm not a day trader but waiting for it to increase over time. Whereas I have some stocks that while hit by COVID do actually increase in value over time. This is not meant to be inflammatory, I'm not going to get rid of my crypto. But to me, it seems more like a lottery where maybe they skyrocket again and I cash in but mostly they just fluctuate but stay on average at the same price over the long term.

    submitted by /u/Presidentofsleep
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    Couple questions about arbitrage trading

    Posted: 15 Apr 2020 02:03 AM PDT

    Hey guys, I just discovered arbitrage trading not so long ago. I did my first trade today with ETH/USDT. It was 159.9 on kraken and 159.2 on Binance. With a quick trade of 50ETH I made $28.

    ​

    My questions is:

    ​

    1. Is this only a one time luck, and people usually stay away from this since in the long run it's a loss due to the time it goes from one exchange to another?
    2. Theoretically, if I would to do this 20-30 times a day, would either of the exchanges freeze my account due to violating the terms of use?

    ​

    I know I probably won't be profiling of this, just wanted to try this and had some unanswered questions.

    submitted by /u/IIchristopherII
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    Idena (Idena.io) Proof-of-Person Blockchain allowing Equitable and Democratic Access to Masses; A very Feasible alternative to PoW and PoS Capitalistic Mechanisms

    Posted: 14 Apr 2020 04:27 PM PDT

    Idena formalizes humans on the blockchain through a novel consensus mechanism employing global synchronous Turing tests called Flips. The synchronous nature of the network validations embodying solving AI-hard Flips allows formalization of humans in a way which provably proves absolute humanness and semi-absolute uniqueness of network participants without requiring any KYC or PII information.

    The system works through extending a limited number of 'invites' in each epoch, which is limited at the protocol level, in order to mitigate an aggressive growth of the network and to avoid the possibility of Sybil attacks. The network has epochs and these epochs progress through systemic synchronous network validations.

    If looked deep down enough, this could open up a range of decentralized possibilities which were not feasible before. Imagine decentralized human-centric equitable voting, governance, and quadratic tooling, Universal Basic Income, on-chain advertising, sign-ups, human oracles, light-weight smart contract logic, and above all an ability to participate and be part of the network by every Alice and Bob.

    The network is still in the experimental stage and the N (Validated Identities) has been healthily growing at around 20%+ every epoch. The higher the N becomes the longer the epoch times would continue to grow until a maximum cap of around 91 days. (This may change to 30 days upon the consensus of the community in the future). The last Epoch #42 resulted in 1690 validated identities and around 90% of them on average keep mining throughout the epoch.

    The coinnomics of Idena (DNA) is such that each day 51840 new DNAs are emitted by the protocol; 50% of that (25920 DNA) is reserved as a daily cap for the online mining nodes, the rest are accumulated daily for the the validation rewards which include validation, Flip and invitation rewards. That is the more mining and validated nodes there are the lesser each node gets. Mining does not involve expensive ASICs or GPUs (as in in PoW) or heavy financial stakes (as in PoS), but just an average laptop or PC and a reasonably fair broadband connection.

    This, I believe, could morph into something really needed in the cryptosphere. Please do check out their homepage idena.io to investigate and learn more.

    submitted by /u/theglock
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    Monero Mining: What Makes RandomX so Special

    Posted: 15 Apr 2020 12:51 AM PDT

    Cryptocurrency Taxes 2020 Explained (Featuring TaxBit CEO Austin Woodward)

    Posted: 15 Apr 2020 12:47 AM PDT

    Binance will Support ARK Staking

    Posted: 14 Apr 2020 06:20 AM PDT

    The Second Stratis Hackathon is now Live on Devpost! ($4,000 in Prizes)

    Posted: 15 Apr 2020 02:13 AM PDT
    Read more
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