[uncensored-r/CryptoCurrency] Crypto Trading for (literal) Dummies
The following post by SirGRM is being replicated because some comments within the post(but not the post itself) have been openly removed. The original post can be found(in censored form) at this link: np.reddit.com/ CryptoCurrency/comments/7pz0hi The original post's content was as follows:
Weekly Update: 24 crypto assets live on ParJar fiat on/off ramp, FantomVision PWA, $LINK + Voyager, $GHOST for $ESH Hodlers... – 17 Apr - 23 Apr'20
Hiya folks! Hope the shelter-at-home is treating you well. As you might know that the super cyclone Amphan struck Eastern India and Bangladesh day before yesterday. As a result, I went into radio silence for two days. Now that I am back in the grid (albeit with ultra-super slow internet; this post took 4+ hours of retries just to upload pictures), let’s get rolling with the weekly update catch-up series again. Here’s your week at Parachute + partners (17 Apr - 23 Apr'20): 24 cryptocurrencies are now live on ParJar for trading with fiat in Europe, India and UK. This is massive! The new ParJar and #cryptoforeveryone masks look great Clinton! Designers in Parachute, Clinton is looking for fresh original designs for merchandise in the Parachute Shop. You can bag some cool $PAR and discount codes if your art makes it to the store. The #par4par raffle currently has a 500k $PAR prize pool. If you have 10k $PAR in your ParJar, you can claim a ticket. Get in on it! Foo hosted a Parena so that winners can get a taste of the raffle with their prize $PAR. Bose hosted a random TTR trivia this week for a 10k $PAR prize pot. Don't forget her rules: "you argue and you're wrong, you skip next question". Gamerboy's Tiproom quiz theme was a secret. Did you find out what it was? Charlotte’s Tuesday TTR trivia was fun as always. Victor hosted an animal-themed trivia for 1k $PAR in prize per question. Two-for-Tuesday continued with the ongoing series of letters. This week Gian got Parachuters to post music "featuring bands or artists whose name starts with the letters M, N, O or P". As always, super thankful for the playlist Sebastian! 136 music videos in total. Dang! Jason’s #wholesomewed prompt involved Parachuters sharing unconventional art pieces. "They can be made by you or someone else". Visit the Parachute Shop for more epic merch like these Uber cool #wholesomewed entries by (clockwise from top left) Fakhir, Erol, Pars, Georg, Eric, OilJam, Peace Love Click here to track this week’s aXpire burn transaction. CEO Gary Markham wrote about Time Recording in his latest blog post. More insights into 2gether’s study about women in crypto were released. This is part of their original study report on female crypto consumers which was first published in March. $BOMB founder Zachary Dash set the ball rolling on a proposal system for brainstorming on ideas for the project. Click here for a sample proposal. For #XIOSocial discussions, Citizens talked about what interest rate would be ideal for $XIO when the dApp launches. $LINK was added to Voyager’s platform this week. Click here for the full range of available assets. Voyager also featured in MyFirstBitcoin.info's list of "Where To Buy Bitcoin". They also launched an integration with crypto trading education platform Market Rebellion this week. Switch announced that $ESH token holders will be eligible to claim John McAfee-backed $GHOST coins on 25th May. News of Ghost’s launch was shared in bitcoin.com, Cointelegraph, CoinPedia, Crypto News Flash and CryptoNewsZ. Neva Fomo’s review of SwitchDex was released this week. The winners of the #BUIDLonFantom Developer contest were announced this week. The FantomVision block explorer was upgraded to a Progressive Web App (PWA) which can be installed on your device as an application. The team hosted a monthly AMA in their Discord. This will be happening every month from now. A new technical paper on smart was contracts was published as well. Bitcoin is a clear favourite for trading among female users Bounty0x’s fundraiser on Republic came to a close this week with funding crossing over targeted amount by nearly three times. Founder Angelo Adam also shared a sneak peek into how the Hypedia platform could look like. Uptrennd Head of Community, Luke, started an #InfectedWithGratitude giveaway that brought 2 days of wholesome joy to the community. Founder Jeff Kirdeikis sat down for an Altcoin Buzz interview to talk all things crypto. IOST joined Uptrennd this week. Coingecko joined in the fun too. Awesome! Congratulations on onboarding 30k+ new users in 2020 alone. The team also set the ball rolling for a community-powered blockchain awards. The District0x District Weekly can be read here. Meme Factory now has a fixture inside the virtual world of Cryptovoxels. Hydro made it to the semifinal round of Ground Up Ventures’ March Madness Startup Competition. Congrats! With news of Google’s smart debit card leaking out recently, the team at Hydro discussed the implications of the tech giant entering digital banking. They also wrote at length about FinTech in Brazil and strategies to bank the unbanked. The team also made a presentation at the Canada FinTech Summit this week. For the latest Sentivate development updates click here, here, here and here. SelfKey’s $KEY token was listed on Kyber Network this week. Read more details here. The team opened up an AMA questionnaire form for the community. AMA date not decided yet. They are also hiring currently. Apply if you’re up for it. SimpleSwap listed $KEY and joined SelfKey’s Crypto Exchange Marketplace. To learn more about Constellation’s ERC20 to mainnet $DAG swap, click here. COTI crew sat down for an AMA with KuCoin this week. The KuCoin staking campaign (announced last week) reached its cap within 5 minutes of opening up. If you were hoping to be a mode operator, hope you reached out to the team on time. To read the fee policy, click here. $COTI will be listed on Coinbit next week. Main registration for Staking 2.0 was started. The Hypedia mockups look great! Pynk is now SEIS/EIS approved which entitles investors in its fundraise round to tax benefits. Wibson hosted an online meetup with Crypto Resources Academy for their Spanish community. This was followed by an ETHSantiago meetup to discuss data privacy. Harmony founder Stephen Tse was part of a Miami DevCon Fintech panel to talk about DeFi and blockchain in finance. Also, congratulations on becoming the top blockchain project by GitHub activity. Stake Heist was formally opened with bounties to find bugs in the Open Staking Testnet Network and build stuff on it for some sweet $ONE. Delegators were also invited to test the staking dashboard in return for $ONE prizes. Watch more about it here. $ONE got listed on WazirX. Ankr published a comprehensive Open Staking node setup guide. Another major announcement this week was that a chunk of block rewards from staking in the phase 2 testnet will be converted to mainnet $ONE. Woohoo! Click here for an early sneak peek into the new IntelliShare website. A quick introduction of the testnet Pacific Program was also released. In his latest article, GET Protocol CEO Maarten Bloemers expanded on the significance of contactless ticketing in the post-coronavirus world. The article was an excerpt from the team’s submission to the Dutch Ministry of Public Health, Welfare and Sport to explore possible opportunities. Maarten was interviewed by HKB News of Korea where talked about all things GET. Their crowd management solution was featured on Cointelegraph as well. And with that, we have to say Bye for now. See you again with another update. Cheerio!
Malware has long been the hallmark of many online scams. But with cryptocurrency, it poses an increased threat given the nature of the currency in and of itself. Recently, a tech support site called Bleeping Computer issued a warning about cryptocurrency-targeting malware in hopes of saving customers from sending cryptocoins via transactions, reported Yahoo Finance. "This type of malware, called CryptoCurrency Clipboard Hijackers, works by monitoring the Windows clipboard for cryptocurrency addresses, and if one is detected, will swap it out with an address that they control," wrote Lawrence Abrahams, computer forensics and creator of Bleeping Computer. The malware, CryptoCurrency Clipboard Hijackers (which reportedly manages 2.3 million bitcoin addresses) switches addresses used to transfer cryptocoin with ones the malware controls - thus transferring the coins to the scammers instead. And, according to Asia Times, even MacOS malware has been connected to malware scams involving cryptocurrency investors using trusted sites like Slack and Discord chats - coined "OSX.Dummy."
2. Fake Bitcoin Exchanges - BitKRX
Surely one of the easiest ways to scam investors is to pose as an affiliate branch of a respectable and legitimate organization. Well, that's exactly what scammers in the bitcoin field are doing. South Korean scam BitKRX presented itself as a place to exchange and trade bitcoin, but was ultimately fraudulent. The fake exchange took on part of the name of the real Korean Exchange (KRX), and scammed people out of their money by posing as a respectable and legitimate cryptocurrency exchange. BitKRX claimed to be a branch of the KRX, a creation of KOSDAQ, South Korean Futures Exchange, and South Korean Stock Exchange, according to Coin Telegraph. BitKRX used this faux-affiliation to ensnare people to use their system. The scam was exposed in 2017.
3. Ponzi Scheme - MiningMax
"Ponzi bitcoin scam" has got to be the worst combination of words imaginable for financial gurus. And, the reality is just as bad. Several organizations have scammed people out of millions with Ponzi schemes using bitcoins, including South Korean website MiningMax. The site, which was not registered with the U.S. Securities and Exchange Commission, promised to provide investors with daily ROI's in exchange for an original investment and commission from getting others to invest (basically, a Ponzi scheme). Apparently, the site was asking people to invest $3,200 for daily ROI's over two years, and a $200 referral commission for every personally recruited investor, reports claim. MiningMax's domain was privately registered in mid-2016, and had a binary compensation structure. The fraudulent crypto-currency scam was reported by affiliates, resulting in 14 arrests in Korea in December of 2017. Korea has long been a leader in technological developments - bitcoin is no exception. However, after recent controversy, it seems as though this is changing. "But a lot of governments are looking at this very carefully," Yoo Byung-joon, business administration professor at Seoul National University and co-author of the 2015 research paper "Is Bitcoin a Viable E-Business?: Empirical Analysis of the Digital Currency's Speculative Nature," told South China Morning Post in January. "Some are even considering putting their currencies on the blockchain system. The biggest challenge facing bitcoin now is the potential for misuse, but that's true of any new technology."
4. Fake Bitcoin Scam - My Big Coin
A classic (but no less dubious) scam involving bitcoin and cryptocurrency is simply, well, fake currency. One such arbiter of this faux bitcoin was My Big Coin. Essentially, the site sold fake bitcoin. Plain and simple. In early 2018, My Big Coin, a cryptocurrency scam that lured investors into sinking an alleged $6 million, was sued by the U.S. Commodity Futures Trading Commission, according to a CFTC case filed in late January. The CFTC case further details that the suit was due to "commodity fraud and misappropriation related to the ongoing solicitation of customers for a virtual currency known as My Big Coin (MBC)," further charging the scam with "misappropriating over $6 million from customers by, among other things, transferring customer funds into personal bank accounts, and using those funds for personal expenses and the purchase of luxury goods." Among other things, the site fraudulently claimed that the coin was being actively traded on several platforms, and even mislead investors by claiming it was also partnered with MasterCard, according to the CFTC case. Those sued included Randall Carter, Mark Gillespie and the My Big Coin Pay, Inc.
5. ICO Scam - Bitcoin Savings and Trust and Centra Tech
Still other scammers have used ICO's - initial coin offerings - to dupe users out of their money. Along with the rise in blockchain-backed companies, fake ICOs became popular as a way to back these new companies. However, given the unregulated nature of bitcoin itself, the door has been wide open for fraud. Most ICO frauds have taken place through getting investors to invest in or through fake ICO websites using faulty wallets, or by posing as real cryptocurrency-based companies. Notably, $32 million Centra Tech garnered celebrity support (most famously from DJ Khaled), but was exposed for ICO fraud back in April of 2018, according to Fortune. The company was sued for misleading investors and lying about products, among other fraudulent activities. The famous DJ wrote his support in a caption on Instagram back in 2017. "I just received my titanium centra debit card. The Centra Card & Centra Wallet app is the ultimate winner in Cryptocurrency debit cards powered by CTR tokens!" Khaled wrote. The U.S. Securities and Exchange Commission even issued a warning in 2017 about ICO scams and faux investment opportunities, brought on by a slew of celebrities who promoted certain ICOs (like Paris Hilton and Floyd Mayweather Jr. to name a few). "Any celebrity or other individual who promotes a virtual token or coin that is a security must disclose the nature, scope, and amount of compensation received in exchange for the promotion," the SEC wrote in an Investor Alert in 2017. "A failure to disclose this information is a violation of the anti-touting provisions of the federal securities laws." Another example is Bitcoin Savings and Trust, which was fined $40.7 million in 2014 by the SEC for creating fake investments and using a Ponzi scheme to scam investors. According to Coin Telegraph, Trenton Shavers, the organization's leader, allegedly scammed investors into giving him 720,000 bitcoins promising a 7% weekly interest on investments - which he then used to pay back old investors and even fill his personal bank accounts.
6. Bitcoin Gold Scam - mybtgwallet.com
Nothing catches the eye of the naïve quite like the promise of gold - bitcoin gold, of course. That is exactly what mybtgwallet.com did to unsuspecting bitcoin investors. According to CNN, the bitcoin gold (BTG) wallet duped investors out of $3.2 million in 2017 by promising to allow them to claim their bitcoin gold. The website allegedly used links on a legitimate website (Bitcoin Gold) to get investors to share their private keys or seeds with the scam, as this old screenshot from the website shows. Before the scam was done, the website managers (slash scammers) was able to get their hands on $107,000 worth of bitcoin gold, $72,000 of litecoin, $30,000 of ethereum, and $3 million of bitcoin, according to CNN. Bitcoin Gold, the site's wallet used in the scam, began investigating shortly after, but the site remains controversial. Still, firm released a warning to bitcoin investors. "It's worth reminding everyone that it will never be truly safe to enter your private key or mnemonic phrase for a pre-existing wallet into any online website," Bitcoin Gold wrote. "When you want to sweep new coins from a pre-fork wallet address, best practice is the same as after other forks: Send your old coins to a new wallet first, before you expose the private keys of the original wallet. Following this basic rule of private key management greatly reduces your risk of theft."
7. Pump and Dump Scam
While this type of scam is certainly not relegated to just bitcoin (thank you for the education, "The Wolf of Wall Street"), a pump-and-dump scam is especially dangerous in the internet space. The basic idea is that investors hype up (or "pump up") a certain bitcoin - that is usually an alternative coin that is very cheap but high risk - via investor's websites, blogs, or even Reddit, according to The Daily Dot. Once the scammers pump up a certain bitcoin enough, skyrocketing its value, they cash out and "dump" their bitcoin onto the naïve investors who bought into the bitcoin thinking it was the next big thing. Bittrex, a popular bitcoin exchange site, released a set of guidelines to avoid bitcoin pump-and-dump scams. While "stackin' penny stocks" may sound like an appealing way to earn an extra buck (thanks to its glamorization by Jordan Belfort), messing in bitcoin scams is nothing to smirk at.
How to Avoid Bitcoin Scams
With the inevitable rise of bitcoin in current and coming years, it is becoming increasingly important to understand and be on the lookout for bitcoin scams that could cost you thousands. As more people become interested in Bitcoin, more people are also likely to try and pull off a scam. There is no one formula to avoiding being scammed, but reading up on the latest bitcoin red flags, keeping information private, and double checking sources before investing in anything are good standard procedures that may help save you from being duped. Cryptocurrency can be a confusing topic even for the experienced Bitcoin enthusiast, so the more you read up on the world of Bitcoin, the more prepared you can be. After all, knowledge is power.
I will tell you exactly what is going on here, this is critical information to understand if you are going to make money in this space. How prices work, and what moves them - and it's not money invested/withdrawn.
/edit: Hi /all. While I have your attention, I want to take 5 seconds of your time and bring some exposure to something that is threatening our existence as the human race. If you aren't interested, please skip down to the main article. I'm talking about finding a way to live sustainably on this planet, regenerative agriculture, where we get our food from, and how we can make sure that our kids and grandkids have something left once we leave. Please consider reading up on Permaculture, sustainable living, Forest gardening, Backyard Chickens, etc. Consider following what I did and do it for yourself. This all used to be a useless lawn. Bored for a night? Go watch "Sustainable" on Netflix. Look into people like Geoff Lawton, Mark Shepard, Sepp Holzer, these people are going to save us. Want to make a small change yourself? Grow a tomato plant on your balcony in a pot. Reduce transport of the tomatoes you eat, and make ~$50 per plant in saved money. Want to do something bigger? Plant a fruit tree in your backyard. Maybe two. Maybe a raspberry bush. You are now part of saving the human race. If everyone reading this planted a fruit tree, or even some wild flowers, we could save the bees. While you are at it, planting a fruit tree has been shown to be one of the best investments on the planet. There's pretty much no investment on the planet that is more financially lucrative (while still being nearly bullet-proof safe) than planting a fruit tree. You can get a tree at an end of sale auction for literally 5-10 bucks, and that tree will produce THOUSANDS of dollars of fruit for you in it's lifetime. Go spend $200 bucks at an end of season sale, plant 10-20 trees (if you have room), and that $200 will be worth tens of thousands of dollars of saved money. Do it right, set it up right and it's almost no work because you offload the work to nature - as it has done for the last few billion years. Go learn how, let me show you how. If you do it right, it's zero work after you have planted and wood-chipped, and all you do is pull dollars off a tree. Original post starts below. I apologize for the shilling of Permaculture, but I think loss of topsoil will impact us all if we don't reverse it soon. We need soil, we need bees, we need food. We need to stop buying December Bananas in Canada. We need to start supporting local permaculture sustainable farms. We need to do this or we may not make it, and our grandkids stand no chance. I also expended the "now what happens" section, to explain how these pullbacks are a good thing, make crypto more stable, and why we keep seeing larger ceilings after every pullback... this stuff is really important for you to make money on this thing, if that's your goal.... I've made a similar post in a few spots, and this is something that is absolutely critical for people to understand... what impacts price, and what is going on lately. Price has only a very minor correlation with money invested, and a major correlation with opinion. ... and Humans are an emotional bunch. So what drives price of any commodity, crypto, gold, pizzas, whatever? The money invested in it, right? Kind of, but not really. What if I told you that you could theoretically raise bitcoin from $15k to $20k by spending $1, and lower it from $25k to $1k by spending the same $1? Crazy right? AN EXAMPLE This is going to start out slow, I want to make sure I get everyone on the same page before I pick things up and lift the curtain. Stick with me here.... This is an example to help illustrate why prices aren't driven by money invested, but rather consensus and opinion. Lets imagine the following exists (we will use bitcoin as an example, but this is how everything on the planet works) Lets say Bitcoin is currently priced at $10k (the last sale). From $11k to $99k, every $1k there is someone with a sell order of 1 full bitcoin. From $9k to $1 dollar, every $1k on the way down there is someone with a buy order of 1 full bitcoin. So, right now if you wanted to buy bitcoin you have several options... meet the lowest seller's price of $11k, or, put your own buy order up, above the highest buyer's bid order (overcut them). If you decide to just place an order, the price doesn't change. If you decide the buy the $11k bitcoin, now bitcoins value is $11k, with a new lowest sell offer of $12k, and a highest buy bid of $10k. Someone else comes in an overcuts the buy bid and puts 1 BTC for sale for $11k. No trades are made until someone matches a buy/sell. Okay, that's kindergarten stuff, most people here understand that. So how much money drove the price up in this situation? $11k, and BTC price raised 11/10, 1.10, or 10% from the last sale. Now the entire marketcap of BTC raised 10% (last sale multiplied by circulating supply). So it takes $11k to drive a 10% increase, right? Not at all. Lets look at what happens when news is released. News comes out that Warren Buffet thinks bitcoin is a scam, a bubble, and he wouldn't touch it with a 10 foot pole because he only invests in things he understands and he doesn't understand crypto. People panic everywhere, and believe "this guy is smart, I'm overvaluing this thing". Suddenly people don't want to buy this scam anymore, and the buy orders for $11k, $10, and $9k are taken down. At the same time, the people wanting to sell start to panic and just want out. The guy at $32k (who just had that offer up "just incase it moons") drops down to $11k sell order. The guy at $12k, who was the lowest, now undercuts him to $10k. The other buyers see the sellers undercutting and think that if these people want out, why am I buying in. The $8k guy pulls his offer, and so do the $7k, $6k and $5k guys. The highest offer is now $4k. The sellers panic further and the $14k guy undercuts the $10k guy and puts up a $9k sell. The $15k, 17k and 11k guys all see this flurry of panic and now a storm undercutting is triggered, to $8k, $7k, and $6k. The $8k order pulls his again and goes down to $5k. The price on the buy and sell orders has moved around a ton, but no sales have actually happened yet. Technically, BTC is still "worth" $11k, and the market cap reflects that. All this horseshit has happened, and it only happened in 10 seconds, but the price hasn't moved yet. The $27k guy wakes up and checks his phone. He had a $27k offer just incase the price moved also, and he also only has a tiny infinitesimal fraction of a BTC. Well, he decides "he's out" and fills $1 worth of the part of the $4k guys buy offer. The latest price information is now updated, and BTC fell from $11k to $4k price per BTC with the movement of a single dollar. This is exaggerated example, but this is what moves price. Not money in vs money out. The ONLY THING that moves price is perception. OPINION FLOW AND NOT MONEY FLOW Now the above example only happens if everyone simultaneously believe the same thing... this the asset they are holding is a steaming turd. What happens in reality is there's no black and white, it's shades of gray. It's flow in vs flow out. But again, not flow MONEY, but rather OPINIONS. If 66% of the holders of something all of a sudden unanimously decide that their asset is overvalued, then they panic sell. Even if 33% of the people decide they are going to buy up as much as these panic sellers sell, if the panic is strong enough, and they are slitting eachother's throat to sell, then the buyers just happily sit and let them do that, and time their buys in. Very little money has to actually change hands in order for this price to crash, all that matters is the FLOW OF OPINION has to be swift and violent, and in majority. The sellers will leapfrog eachother on the way down, faster than the buyers scoop up their sales, and the net result is a crashed price. Note, this happens both ways... fear, uncertainty and doubt (FUD) as well as overhyped FOMO (Fear of missing out). So now what happens? Time goes by and all holders opinions of their asset hasn't changed. They still think it's worth $11k and they got great deals scooping up what these sellers were selling. The weak hands have left the market and have been replaced with holders. Overall, now a higher percentage of holders believe in the product they are holding and are unwilling to sell for the panic prices of the last week. Panic sellers were also replaced by new money, people who have wanted in for a while and are now in on their perceived ground floor. Also, people who bought BTC at $1 ten years ago and have been looking for an exit to cash profits have now been replaced by either long term holders, or by these new people who are thrilled to have finally entered, and they are looking to hold long. So what happens on pullbacks? The number of people waiting to jump off the ship has decreased. The new ground floor is established. Are we done? Who knows, this could go on for another year, but what matters is that people who want off are getting off and people that want on are getting on. People who have panic sold and never believed in this in the firstplace... people who have wanted out for 10 years... they have been replaced by people who are now getting in on THEIR GROUND FLOOR, and are going to be holding long. The market is suddenly increasingly more stable today than it was yesterday, even though prices are down. This is a good thing. This is why crypto keeps bouncing back from pullbacks and reaches new higher ceilings and floors each time. Old money who wanted out, and new panic holders, they are gone. They are replaced with adopters, holders, believers in this technology. These people aren't selling anytime soon, because they believe that this thing is going to revolutionize the world. Every crash brings more of these people in, and removes more panic sellers out. Moving forward Now news releases start coming out about how stock ETFs are being created, NASDAQ index funds, bank support, government support. Companies are using this tech, and companies who use blockchain for transportation are putting non-blockchain companies out of business. The people on the outside looking-in feel they are missing out. They now start coming in and buying. They start overpricing eachother on their buy orders, and eventually it gets close enough to a sell order that someone decides they are just going to meet the sell price. The sale goes through. Sellers (HODLERs) see this action, and they start pulling sell orders off the table almost as fast as they fill. Sure some trades go through, and incoming money is driving the price up as market orders are filled. But what's also happening is people are seeing this flurry of volume, and sellers are pulling sell orders and placing them higher. Junk coins and pump and dump scam coins are dying by the millions. In their ashes, good solid technology projects whose coins have fundamental economic reasons for growth, these are rising. Corporate partnerships continue forming. The real world continues to create actual use cases. Companies start storing more and more corporate information on blockchain. Public companies use blockchain to store scientific research (See Canadian Research Council announcements), and blockchain acts as a Library of Alexandria. People can travel out of country without any monetary exchange, using their chosen cryptocurrency to buy the things they need abroad. The world is slowly actually USING this technology. Money is coming in, but more importantly, OPINION IS CHANGING. Literally nothing could have happened in terms of fundamentals, partnerships, etc... this can all be driven entirely emotional, so long as it's wide-spread and strong. Infact, the market could THEORETICALLY rebound in this way from $4000/BTC to $1 MILLION PER BITCOIN by the sale of ONE PENNY. $4000 sound low? Does that number make you uncomfortable? We may go that low. We may not. If we do, I'm not panicking and selling, I'm buying more. SO WHAT HAS HAPPENED IN THE LAST FEW MONTHS? and where are we going? A lot of new money has come in from Nov-Jan, and they don't really know what they are investing in. Sure some of them have done great research and are smart investors but most people aren't and isntead they are buying Symbols and Names and trading on speculation. They are treating their favorite coins like a sports team, and will follow them irrationally off a cliff. These new people came in and invested in cryptocurrency because their OPINION was heavily influenced in Nov, Dec, Jan, from media. They saw this money making machine called crypto. They were willing to pay huge, ride the wave up, keep buying, etc. They were "ground floor adopters" and were going to get rich. They outnumber the old money by A LOT. Their OPINION MATTERS. It matters the most. To keep this in perspective, they are also a VAST MINORITY of "new money" that will enter the game in the next decade. This cycle will continue over and over and over. Their opinion rose nearly unbounded and price rose accordingly. Market cap rose from 10B to 750B, and it could have been VERY LITTLE actual money that did this. How much did it need to be though? Literally ONE PENNY, theoretically. All that matters in moving price is MOMENTUM OF OPINION. I believe it has been estimated that as low as 6B USD was responsible for the bull rush. These people then started hearing "Bubble", "Scam", Fake news about governments banning. They don't understand how technology wins, always. Crypto is beyond government control. If they could have stopped Bitcoin they would have done it already. WHO IS DRIVING ALL THIS? Most investment opportunities go first to "accredited investors". You need to have multimillions in order to get in on the ground floor for most stock IPOs, and we're seeing that start to happen with coin ICOs. Bitcoin was a joke for the first few years, while lunatics picked it up. At this point, it was really too late to get in "early", and who would have wanted to anyways, it was all still a joke. So Wallstreet, banks, governments have generally watched on the sidelines as average Joes who were crazy enough to be early adopters and toss $100 on fake internet money slowly became millionaires. Not only that, but the idea of blockchain started to become understood. The power and value in it became understood. Not only as a way to track "monetary value" but for many other applications as well. Platforms were created, business uses brainstormed, products started being made. This thing started taking off, and wasn't a joke anymore. But regardless, big money wasn't in on the ground floor. They have stakeholders opinions to think of, and what do they say to investors when they lose all their money on magic internet points? But they have woken up now. This thing has "popped" many times now and keeps recovering. This thing won't die. could they have been wrong all along? If they want in, how do they get in? They are no dummies, they have been controlling the world their whole lives? Look at the media experiment that Trump is doing? He is testing just how we work... you can do literally anything and we remember it for like 30 seconds, until the next news story comes out. We change opinions very easily. We are swayed very easily. We are their puppets. Media controls the world. They know their way in. They have ONE WEAPON against cryptocurrency. YOUR OPINION OF IT. And they know it. Media. That's why FUD is so powerful and needs to be respected. It's why we need to read more than titles on news articles. We need to question what we read, whether it's good news or bad news. We need to think about "what are the motives of the person saying this to me". Does the government have a conflict of interest when they state that crypto is gambling? Do they have skin in the game? What about wall street? Does WEISS ratings possibly have incentive to come out with poor ratings? Do banks have incentive to lock accounts in order to "protect" customers from "unsafe investments" when their entire business model revolves around holding as much of your money as possible and making money off it? Do you think banks have any super secret hidden interest in preventing you from storing your money elsewhere? I'm not sure, maybe you can critically think about that. Just understand that this goes both ways. When crypto is booming and Fox news is showing people how to buy $4 ripple on prime time, you may want to start putting in some stop loss orders. When the suicide hotline is stickied at the top of /cryptocurrency and everyone is panic selling, you may want to start picking up some firesale deals. So, the question is this... Is crypto undervalued or overvalued at it's price today? Where is the price going long term? I'm not talking about it's use case, I'm talking about in the court of public opinion, where is THAT going? Because THAT is what is going to drive price in the future. Without a crystal ball, this is of course impossible to know. Do your own research and form your own opinion. It could very well be that the technology having a use-case will in and of itself drive opinion, and thus price. But make sure you understand that it's not the technology itself, it's not the value of the business itself, it's not the use case itself that will drive price, it is the publics OPINION of that thing which drives price. They are intertwined, but they are NOT the same thing. TLDR: VERY VERY little money has to move around in order to swing prices drastically, up or down. Money in and out doesn't drive price, OPINION does. How do you let the news you read impact your opinion?How are you being played (on both sides, shilling and FUD). Something is only worth what people think it's worth. Often that's based on reality, value, business, money, but often it's entirely emotional. Structure your portfolio in a balance, intelligent way, using risk methodology.. Invest money you are willing to lose. Support legitimate technology and teams who are actively driving their product to completion, coding, and marketing. Stop trying to make money overnight in pump and dump scams, or pyramid schemes. Every day, take one coin, do a deep dive on it, learn it inside and out. Look into their team and their past. Do that every day for a year, and you just learned 365 coins inside and out. Ask yourself the following key questions: Have those members consistently jumped ship on previous projects? Is that where you want to invest in? Is their team capable of executing on their vision? Are they trying to solve world hunger, and their team is a few 16 year olds in a garage? How active is their github? Are they adding chunks of code regularly, or is a ghost town? Are they marketing their product at all? Or is marketing the only thing they are doing? What are the economics of their coin itself? Is it required to be used to gain access to their technology? Are there burns? How premined is it, and what portion do the founders hold? What about their vision? Are they trying to solve a problem that needs to be solved? What are the economics of that problem and how much money does the solution potentially save clients? These are all questions you should be asking when you give your money to someone else. We're a lot more stable than we were - a correction was bound to happen. Too much early money wanted to cash in profits. These people have been replaced by new money who is holding on their own ground floor. The whole industry in general is still in very early stages. Rest assured that anyone reading this is still very much an early adopter. Just make sure you are investing in actual technology, and supporting capable teams, and not buying air. Buy the Googles and Amazons of Crypto, not the pets.com or flooz.com of cryptos. Happy investing everyone. /EDIT: some have asked to donate some crypto. Do me a favour instead, sub to my YouTube channel (link at top) watch my videos how to get started properly, and plant your own trees and establish food sovereignty for your family and your community, and help save the bees, save our topsoil, and sequester carbon to reverse global warming. My goal is to get a gardener back into every home on the planet. THAT is how we heal this world.
Hey everyone! Here’s part VI of VII as we catch up with the latest - your week at Parachute + partners (7 Feb - 13 Feb'20): As we walked into the Parachute anniversary week, the PAR4PAR raffle entered stage twelve with a prize pool of more than 1M $PAR. Wow! Did you know that Shawn, Andy and Brian (Trujillo) are a day older than $PAR? Belated birthday wishes to all four! And what a birthday celebration it was! Events galore throughout the week kicked off by Cap’s email followed by Gian’s special Two-for-Tuesday with party classics and bonus tips for party GIFs. Doc Vic (Victor Anox) hosted a trivia in TTR with 1k $PAR per question in prizes. In the birthday special events, we had an anniversary special Parena with a prize pool of 106k $PAR ("Prize will be three 000's added to the amount of people that join!"). Congratulations Darren! The other Doc Vic (from Cuba) hosted an anniversary special free-for-all duel in the Parachute War Zone for a 25k $PAR prize pool. Noice! Runners posted their sprints in the Parachute Running Club for some cool $PAR. Gamers played Space Orbit for more $PAR. Alexis ran the twelfth raffle for the 1M $PAR prize pool. Congratulations to the winners. That is a boatload of $PAR! Alexis also announced a new style of raffle that will begin two weeks later. Cap extended the Two-for-Tuesday to Wednesday to get more folks posting birthday songs or just about any video of themselves like Mr. Nobody. He also shared some epic snapshots (with 500k $PAR hidden) of what’s coming up for Parachute in the coming weeks in addition to the journey so far. Yup, you heard that right – a fiat on/off ramp, a integration and a Parachute Dex (with a $PAR base pair). Jason launched a special #wholesomewed on the occasion – set up a short term goal that is achievable within six months, work towards it and win $PAR as you progress per week. The best part of the birthday celebrations were the Parachute OGs peeping in to say Hi. Thank you for making it to the party, folks! Parachute 2018 v/s Parachute 2020 Epic ParJarGaming artwork, Jordy! Don’t forget to vote for the mightiest “TTR Avenger” for a chance to win some cool $PAR. Gamer Boy hosted a trivia in TTR based on rebus puzzles for a 10k $PAR prize pool. Doc Vic held another CoD flash game in the Parachute War Zone for some cool $PAR prizes. Thanks for the $PAR shoutout, Franklin! If you haven’t yet joined ParJar Gaming, you just missed a chance to win some cool $SNTVT prizes. Thank you for the shoutout, Uptrennd! TTR crew launched a referral campaign to get to 3000 members within the week. Tons of $PAR were given away in the process. For new peeps who ask “what do I do to get tipped?”, TTR has an answer. Scenes straight out of Frozen in Georgia. Pic Credits: Chris Tropical paradise in Puerto Rico. Pic Credits: Cap Blissful sunset in Havana. Pic credit: Doc Vic (from Cuba) Thanks Jenn for being awesome: First submission to last week’s #wholesomewed prompt Jeff from Uptrennd wrote about $1UP’s recent performance plus a sneak peek into the upcoming own-a-community feature. He also interviewed Factom’s David Johnston in a freewheeling chat about crypto and finance. After last week’s District Registry launch, the registry can now accept district proposals (instead of just GitHub). The District Registry introduction post was published on Cent as well (with a hidden easter egg). Catch up on the latest District Weekly here. Hydro crew travelled to Israel to represent the project at Our Crowd Summit. Want to know how fintechs use APIs and how its benefits them? Read about it here. Hydro had an AMA on Publish0x this week which turned out to be one of the most engaging ones ever. Plus, 300k $HYDRO tokens were given away. Sweet! The Hydro Events Marketplace was released to the public for beta testing. For the latest sneak peek on Hydro Pay testing, click here. Silent Notary’s Ubikiri unveiled a feed channel for community discussions which will be their primary mode of communication from now on. Sentivate is looking for a new logo for their Wyoming company. There’s USD 100 in BTC if your entry makes it to their selections. In OST’s latest tech update report, Jason explains how OST’s layer-2 tools make it easier for devs to build on Ethereum. For Pepo updates, click here. 1MillionDevs announced a collaboration with Pepo to grow the Ethereum community through the app. As ETHDenver’s official community app, Pepo is sponsoring the UX Awards at the event. On that occasion, the team published a guide to good UX for participants. Plus, there’re also Mile High Missions to earn Pepo tokens. SelfKey’s January update report was published. The team also compiled an exhaustive list of major crypto exchange hacks. Constellation’s community-sourced mainnet wallet, Molly, was unveiled this week. Check out this tweet thread by Startdust Collective (Constellation’s education handle) to understand what Dcode accelerator program means for the project. The project also joined blockchain accelerator MouseBelt's Blockchain Education Alliance. Read more about it here. Ben Jorgensen and Benjamin Diggles sat down for an interview on the BlockHash podcast to talk all things Constellation. Cool $DAG art Crypto Oranium! Pepo Mile High Missions at ETHDenver Pynk co-founder Zack invited the community to share their learnings from Pynk. Some great insights followed. Wibson’s Director of Research Carlos Sarraute, along with other collaborators, published a paper on a scalable protocol for making ERC20 token distributions inexpensive. The team opened up a data privacy survey for Spanish speakers. A recent article on Ambito.com covering personal data protection featured Wibson as well. For the transcript of GET Protocol’s AMA with Decentralised Club, click here. The team will appear for an AMA with Crypto Gems next week. GET will be handling ticketing for singer Guus Meeuwis’ stadium shows this year. Congrats! Global Crypto Alliance’s $CALL token was listed with a $BTC pairing on ProBit Exchange (and its $USDT pairing discontinued) this week. The team hosted a fun quiz session in their Telegram channel and gave away some sweet $CALL tokens to the community. They also announced a partnership with Finexca to spread the word on the project in Africa. COTI’s revised token metrics and network growth update was published. 400M $COTI tokens are also being shipped off to a vault. Read more about it here. If you missed DoYouTip’s token swaps on ParJar and Txbit, fret not. You can still manually swap as per the instructions here. Check out Harmony’s January milestones summary in this blog post. The latest weekly highlights from the entire team can be found in this tweet thread. Matt and Cem from the engineering team explained how a sample NFT trade could look like on Harmony. The project’s latest initiative “Harmony Office Hours” aims to get community feedback on a regular basis. The first one was opened up to get inputs on staking. The $ONE token swap went live on Honest Mining. CEO Stephen Tse chatted with Block99 about the future of DeFi and about Harmony. UX mockup of planned Harmony Validator Details page aXpire crew were at the Legaltech Legalweek 2020 Conference in New York last week representing Bilr. Click here for some pictures from the event. aXpire’s sister company LSG announced a partnership with LEDES Oversight Committee which is a leading global non-profit that oversees legal data exchange standards to get Bilr into the hands of more law firms through the LEDES network. LSG also entered into a partnership with payment fintech AffiniPay to integrate its LawPay solution into Bilr. CEO Gary Markham travelled to a roundtable event hosted by Opalesque in Miami to talk on sovereignty and digital currencies. YouTuber Cedric BK will record his first video on crypto by reviewing the 2gether platform. Looking forward! In #XIOSocial discussions this week, we learnt about what XIO Citizens do IRL and discussed about an XIO-for-dummies-demo and interest vs stake fee rewards model. The XLP crossed USD 50k in locked assets this week. Noice! Also, congratulations on turning 1 year, $BOMB. Have you had a chance to check out the influencer marketing platform being built by Bounty0x? If not, click here to have a look. Founder Angelo Adam shared a company update as well. Ethos’ parent company Voyager acquired Circle’s retail investing platform Circle Invest this week. This is huge! The news was also covered on Coindesk and Yahoo Finance. This means 40k+ new users will be joining Voyager soon. Click here to read more about it and about Voyager’s 1 year journey so far (having launched exactly a year back). The latest Switch update was released. It details some of the upcoming developments such as new smart contract for SwitchDex, atomic swaps for $BTC and $BCH etc. As of this week, nearly USD 10M worth of $FTM is now staked on the mainnet yielding one of the highest staking rewards as per CryptoDiffer. $FTM can now be purchased for fiat in Europe through Bitladon. Fantom announced a partnership with Ethereum Classic to bring DeFi features into their ecosystem. $ETC will be used as a collateral to mint stablecoins modelled on $DAI using the XAR Network. The latest rundown on the Fantom wallet can be found here. Having already added support to Korean and Chinese to the various ecosystem tools, the community voted to also add Spanish another supported language. And with that, we close for this week in the Parachuteverse. See you again soon. Ciao!
Met a chinese girl on a chinese dating app. Chatted for a bit in a friendly and innocent way. She was in my city for only a day, and there was no time to meet in person. Among other innocuous things, we chatted about cryptocurrency, but I admittedly know just a tiny bit from my experience with the 2017 wild ride. We moved the conversation to wechat. She tells me about a new chinese coin (opened early this year) that is going to be backed by some major chinese banks. Listed on Dobi, but not available for trading by the general public. She says her uncle is the head of one of the banks and that the banks plan to use the coin and will buy it so that it will increase to over $2 USD (about 6x the current price). She gave me the special code to be able to purchase the coin before it is tradeable in a few months. She says any investor in the bank is given the code if they have at least $20k USD. Like a dummy, I registered on Dobi and used the code to purchase a little bit. And it has been rising steadily. In fact, it follows the typical trajectory of jumping by a few cents, then adjusting, then stabilizing, then receding just a tiny bit before jumping by a few cents again. In 2 weeks, I've made about 12%. Twice she has told me that her uncle says "the coin will increase to about X in the next day or two" and both times that happened, including today. I've purchased a small enough amount that I wouldn't shed tears if I lost it all, but now I'm seriously considering buying more that I'd definitely be upset if I lost (but wouldn't break my bank). None of our communications involve her trying to get my info or gain my attraction. She doesn't send me pics or post pics on her profile for attention. She has several pics on her profile that were taken by others, so they could have very easily been ripped off from a real girl's profile elsewhere. Nonetheless, I don't get any shady vibes from her. ********************************** Anyway, is it completely impossible that major chinese banks would be able to control a coin and boost it to the level that they want? I think it's possible. Is it completely impossible that a rich chinese girl helped me get in relatively early simply because I've been a pleasant text buddy? I think it's possible. That said, I feel there is a real likelihood that I ultimately get screwed over by this. For example, maybe the coin crashes before it becomes trade-able, which means the banks make their profit while little guys like me are left with nothing. On the other hand, making 5x what I've currently invested or even losing all of what I've currently invested have almost zero impact on my happiness and financial stability. Whereas, investing twice this amount and making 5x of that would really start to move some of my future investment plans forward.
Chin up boys and girls – the DApps (Decentralized Apps) are finally coming. Utility, not speculation/manipulation/shilling etc., is what, in the end, will give/justify the value of blockchains.
Of the top 100 tokens, 91 of them are on the Ethereum blockchain (ERC-20). The most valuable non-Ethereum tokens by market cap are USDT (4) and GAS (25). Eventually, ICX (6), VeChain (3) and EOS (1) and several others will be migrating to their own blockchains. Still, this leaves Ethereum with an overwhelming market dominance for tokens (aka DApps) and Ethereum has been clearly recognized as the blockchain to launch ICOs/DApps.
For the rest of March + Q2 (April - June) we are going see the biggest implementation of DApps on the Ethereum mainnet to date. Below I’ve laid out, in alphabetical order and in varying detail, what’s happening between now and the end of Q2 of this year. (I’ve also added some info, where especially relevant, of big stuff coming after Q2). I hope any biases I may have do not come through too much in the writing.
To hammer home on utility once more: One year ago today, the daily transaction count was at 57,000. Yesterday, the network confirmed over 752,000 transactions (a 13x increase) (And remember, ATH in January was 1.349 million txns!) [Source]
AirSwap is a decentralized exchange for trading Ethereum based tokens. It allows its users to trade tokens in a peer-to-peer fashion across the Ethereum blockchain. The token trader is currently live, in a limited capacity, trading AST and (W)ETH.
More token pairs will be added before the end of the Q1, as part of the upcoming release, Token Marketplace. A mobile app is also in development and will be entering beta soon.
Aragon is a project that aims to disintermediate the creation and maintenance of decentralized organizational structures by using blockchain technology. "We provide the tools for anyone to become an entrepreneur and run their own organization, to take control of their own lives." Originally slated for a February release, Aragon Core v0.5 (which is a fully functioning version of the DApp on mainnet) should be released any day now.
Augur is a fully-decentralized, open-source prediction market platform built on the Ethereum blockchain for any and all predictive markets. Augur Beta is currently live on Kovan testnet and launch is “months away.”
In order to mitigate bugs and problems, the first market on mainnet will be something along the lines of 'Will there be a critical vulnerability discovered in Augur by a certain date?” Given Augur’s development history, this could be launching a little after Q2, but the progress looks promising.
UPDATE (3/7/18): Contract audits are complete and the full audit report of augur-core will be released next week. "Some work still being down on UI, Augur Node, and additional screens." Next step is the bug bounty (first prediction market on Augur).
UPDATE (3/12/18): Core security audit report is released following a four-month long audit by Zeppelin. Augur's contracts are ready to ship and "over the coming weeks we plan to release more details around a bug bounty program and market."
BlockCAT lets anyone create, manage, and deploy smart contracts on the Ethereum blockchain with just a few clicks. No programming required. BlockCAT will be releasing their first visual smart contract on the mainnet on March 14 (the full details of exactly what this contract does, will also be released when it goes live.)
UPDATE (3/14/18): BlockCAT's first visual smart contract, Tabby Pay, has been released on mainnet. Tabby Pay is a smart contract that’s built to prevent user error - if you send Ether to the wrong wallet, you can cancel the payment and your Ether will be returned.
Digix is a DAO (Distributed Autonomous Organization) and is composed of two main parts: DGD and DGX, both of which are ERC-20 tokens.
DGD is a governance token that allows holders to vote on proposals that are submitted for the growth of the Digix ecosystem and offers rewards to holders on the basis of their successful contribution to the Digix Ecosystem.
DGX is a gold-backed token and is slated for a public market release by end of Q1 2018. DGX is backed by physical gold on a basis of 1 token to 1 gram of gold. "DGX represents value on the blockchain that can be retained over time with relatively little volatility; giving it greater utility than Ether for a wide range of use-cases. Retail, Rentals, Salaries, Commerce, Lending, Wealth Management."
Ethorse is a DApp for betting on the price of Cryptocurrencies and winning ETH from everyone who bets against you. Users bet with ETH on one of the listed coins or tokens to have the highest price gain in a fixed period. Currently live on the Kovan testnet, with mainnet launch before end of Q2.
FunFair is a decentralised gaming technology platform which uses the Ethereum blockchain, smart contracts and their own Fate (State) Channels to deliver casino solutions with games that are “fun, fast and fair.” FunFair has been on testnet for many months now and the Showcase has been live for even longer. Currently on-boarding casino operators, FunFair is on schedule to launch with its first operator in early Q2.
FundRequest is a decentralized marketplace for open source collaboration. It introduces an easy and secure way to reward bugfixes and feature builds on any project. The FundRequest platform will be going live on mainnet in Q1-Q2 and will allow users to fund and crowdfund open source issues on GitHub using the FND token. Developers can claim the FND token after they’ve successfully resolved the GitHub issue. Q2 will also bring the ability to use any ERC-20 token to fund Open Source Issues on GitHub.
Giveth is an Open-Source Platform for Building Decentralized Altruistic Communities. The first working prototype of their “Minimum Loveable Product,” the Giveth Donation Application, is live on testnet and they “expect to fully open the platform for the public in March 2018.”
Golem has branded itself as “the worldwide supercomputer.” Golem Brass beta will be releasing on the mainnet before end of Q2, allowing users to sell their computing power and earn real GNT for the first time.
iExec is a decentralized cloud computing platform that is blockchain-based. Using a decentralized cloud that connects users to one another it aims to tackle the current limitations of centralized cloud computing that are holding business and innovation back.
Launching in Q2, iExec 2.0 — Cloud Marketplace will include the full marketplace platform network, with the PoCo algorithm (Proof-of-Contribution) enabling the first decentralized cloud.
Kyber network is an on-chain protocol which allows instant exchange and conversion of digital assets and cryptocurrencies with high liquidity. Launched on mainnet in February and was at first only available to people on the ICO whitelist but has since slowly started allowing new user on the platform. Currently only has a few tokens listed but that list will continue to grow and will hopefully bring along with it a surge in daily users/volume.
MakerDao is a decentralized stable coin project that is currently live on mainnet. It is composed of two main parts: MKR and dai (both are ERC-20 tokens).
MKR is a governance token: "MKR holders are the highest authority in the Maker system - they govern the system and benefit financially when they govern it well, but they also have to foot the bill if things are mismanaged - as a group they need strong social cooperation and a vigilant attitude towards governance."
Dai is a decentralized stable coin that is price stabilized against the value of the U.S. Dollar. Dai is used in conjunction with their Oasisdex decentralized exchange, and their CDP (collaterized debt position) margin trading platform to offer "a full solution for global decentralized finance where everyone gets to benefit from the massive economies of scale that become available when global finance is done right."
Currently, dai is only collateralized by Ether but multi-collateral dai will be released in Q2. This means dai will begin to be backed by gold (through DGX) and other ERC-20 tokens. Maker is also looking into collateralizing more traditional investments, like real estate, in the future.
This project can take a little time to understand, so here's a thorough ELIM5 walkthrough.
The Melon protocol is a portal to digital asset management on the blockchain. The frontend operates on top of IPFS, while the backend leverages off a set of Ethereum smart contracts. Melonport just launched on mainnet and they currently have a bug bounty with 500 MLN in it. In a few weeks, the current version will be shut down for fixes and a new version will roll out. Melonport: "Disrupting the US$84.9 trillion asset management industry, one block at a time."
OmiseGo is the Plasma decentralized exchange, hosting an open-source digital wallet platform created by parent company, Omise, connecting mainstream payments, cross-border remittances, and much more. They just had their White Label Wallet SDK public release.
In Q2, OmiseGO will deliver the OmiseGO network and lay the foundations in preparation for Plasma. In Q2 we will see the OmiseGO Proof of Stake public blockchain release, meaning staking will be possible.
(OMG’s cash in/out interface and the Plasma mainnet launch are scheduled for the tail end of 2018/early 2019. Learn more about Plasma from the most cheerful person I know, Karl Floersch, here
Request is a decentralized network that allows anyone to request a payment for which the recipient can pay in a secure way. The first iteration of Request working with Ethereum on mainnet is still on track to launch before March 31. The code for mainnet is currently being audited and when the audits are done, a bug bounty program will follow.
A cryptoeconomic powered adult entertainment ecosystem built on the Ethereum network. Basically, a decentralized cam site (plus a lot more!) Launching on mainnet in Q2 is SpankChain Camsite v1 which will allow for ETH + ERC20 payments and public and private shows all while implementing a low 5% fee for performers (According to their whitepaper, most adult camsites take between a 30-50% cut of performer earnings on top of payment processing fees).
UPDATE (3/23/18): According to community manager Chase Cole, they are aiming to launch the camsite on April 2.
UPDATE (3/27/18): It's official - beginning April 2, the cam site beta program will give token holders and community members access to the initial closed beta shows.
0x is a protocol that facilitates trustless peer-to-peer exchange of ERC20 tokens. 0x protocol is free to use and allows anyone to create a decentralized exchange; we call these relayers. This isn’t a DApp, but allows for the creation of DApps.
A list of some of the DEXs, in varying states of development, that will be utilizing 0x:
Also, an informative article about some of the differences between the various decentralized exchange protocols here. Some general Ethereum news to be excited about:
Vitalik recently hinted, in a since deleted tweet, that the sharding testnet will be coming online in the near future (I think Q2 isn’t too early a guess).
What is sharding? Sharding is where the entire state of the network is split into a bunch of partitions called shards that contain their own independent piece of state and transaction history. In this system, certain nodes would process transactions only for certain shards, allowing the throughput of transactions processed in total across all shards to be much higher than having a single shard do all the work as the mainchain does now. [Source]
What is Casper? Casper FFG aka Vitalik’s Casper is a hybrid POW/POS consensus mechanism. This is the version of Casper that is going to be implemented first. In a Proof of Stake system, validators stake a portion of their Ethers and start validating blocks. Meaning, when they discover a block which they think can be added to the chain, they will validate it by placing a bet on it. [Source]
(To stay up-to-date on Ethereum research development, check out Ethresear.ch)
Speakers include representatives from the Ethereum Foundation, Ledger, Metamask, Shapeshift, Oraclize, Uport, Web3Foundation, Melonport, ConsenSys, JP Morgan, Coinbase – Toshi, Parity, SpankChain, FunFair, Aragon, AirSwap, EEA, IExec, Cosmos, OmiseGO, Circle, Gnosis, among others.
UPDATE: EthCC was a resounding success! If you missed it or want to re-watch any of the talks, check out this handy thread of videos, painstakingly culled and timestamped by u/alsomahler.
The Ethereum Developer Conference (EDCON) is May 3-5 in Toronto. This will be the biggest ETH dev conference since DEVCON 3 last November. The agenda is still being worked out, but speakers include representatives from the Ethereum Foundation, Polkadot, Parity, Plasma, OmiseGO, Cosmos, Tendermint, Giveth, Maker, Gnosis, and many others.
5.6 billion requests per day for Infura.io (Decentralized web3 infrastructure)
280,000 downloads of TruffleSuit (ETH development framework) [Source]
ConsenSys has grown to over 600 employees in six major offices located around the world. I personally think ConsenSys is important (and awesome) because they are huge Ethereum evangelists and provide (in)valuable resources to help bring DApps come to life!
From their website: “The ConsenSys “hub” coordinates, incubates, accelerates and spawns “spoke” ventures through development, resource sharing, acquisitions, investments and the formation of joint ventures. These spokes benefit from foundational components built by ConsenSys that enable new services and business models to be built on the blockchain.”
Several of the projects I listed above are ConSensys formations including AirSwap and MetaMask.
Thanks for reading this far! Hopefully it wasn’t too exhausting of a read.
I am certain I have forgotten some DApps, so please feel free to comment/PM any and all suggestions/corrections to make this list more informative/inclusive/accurate and I will update it. TL;DR
A is for Attunement, an innate force of elemental magick that determines what kind of kink you’ll have in the bedroom and how you can kill a man with your bare hands. B is for Berry High, where the extracurriculars are lit but your enemies frame you for crimes you didn’t commit. Go Tigers! Hearst sux. C is for Cordonia, land of the Five Kingdoms, where polyamory is actively encouraged by the king. Long gone are the days when armies battled with dragons. Nowadays, terrorists torch orchards while duchies are handed out to random waitresses. D is for diamonds, a timeless multi-dimensional cryptocurrency that can be traded for fashionable garments, adorable animals and the simulation of being loved. E is for Evil Rich Dudes. Is your billionaire boss obsessed with crystals? Does he wear an eye patch or sport a pointy beard? Does he command a troupe of technologically enhanced super soldiers while professing his desire to save the world? Spoiler: you’re gonna fight him. F is for frrrriiiiiiiieeeeeeeeeennnnndddddssssssss? G is for grandparents. Don’t trust them. They’re either trying to kill you or force you into an arranged marriage. H is for hats. Fancy ones. Crowns, top hats, Pope hats... History says whoever has the hat has the power. I is for indescribable, the feeling you get when you realise Big Sky Country got a sequel but not A Courtesan of Rome. J is for the Jura-Vanguard civil war, a complex cosmic conflict no one can understand, let alone explain. Is this a woman a hero or a war criminal? Dunno. Let’s flip a coin. K is for kissing options, which you should take at every possible opportunity, even if working your first shift as a doctor or exploring a crime scene with a cop. Do it for the romance points! L is for Love Interest, a colloquial term used to refer to whichever bunch of pixels you find most appealing on an emotional level. Wear them in your flair. Stan them to the bitter end. Tom Sato forever. Don’t @ me. M is for Marc Antony, the lovable tyrant whose digital ghost haunts this subreddit, laughing heartily at the people who still want to have a tumble with him over two thousand years after his death. N is for nerve check, a sadistic life support system through which the fates of your friends rest on your responses to a series of seemingly arbitrary questions like, “are you okay?” and “what shall we do now?” O is for outside, which is not necessary for optimal biological functions. P is for paaartaaay. Doesn’t matter whether you’re in regency England, Lythikos or outer space, there will be a party. There is always a party. Take a time out from hunting monsters to buy a prom dress. Go out clubbing while living as an international fugitive. Drink your troubles away as the entire world burns. Q is for quantum teleportational device, otherwise known as the Beaumont Boutique. You’re on a train, there it is. You’re in Paris, there it is. It’s everywhere! The private jets are just a smokescreen. Think about it. R is for rewards. Watch this ad and we’ll give you one... or not. Try and it see. Will it work, or will it just give you an error message? Who knows. That’s all part of the fun. S is for shaky text, an early indicator that things are about to go down. If words are trembling, you’re about to get jumped or humped. Both if you’re lucky. T is for THOT, a rapidly advancing disorder caused by prolonged overexposure to the Choices fandom. Common symptoms include obsessional fixation on unobtainable sprites and a thirst that can never be quenched. U is for unlikely alliances. See that girl who’s out to ruin you? She’s gonna be your best friend. See that dude who killed your mother? You’re gonna invite him to dinner. You get a redemption arc! And you get a redemption arc! Everybody gets a redemption arc! V is for vengeance. Whether you’re here to poison the man who burned your village, hunt down the assholes who killed your parents or merely sabotage Natalie and Clint, the road to justice is a long and arduous one. W is for “Why am I like this?” The ultimate question. The answer to love, life, the universe and everything. X is for X-rated content, a.k.a. “30 diamond scenes”. The dark underbelly of Pixelberry. Have you ever wanted a threeway with vampires? Do you dream of participating in a Roman orgy? Now’s your chance. Don’t blame us. They made us this way. Y is for “You have died”, a sign that somewhere along the line, you’ve pressed the dummy-dumb-dumb option. Go back and try again, and again, and again, until you ultimately start crying, give in and look it up on the wiki. Z is for zzz... Wait, what? Where am I? Who am I? Is this real life? I don’t like it. Make it stop.
Thumbnail Thispostwillbeconstantlyupdated,you can follow its development over atGitLab.If you miss something, let me know!
IOTA in a Nutshell
IOTA is a free and scaleable transaction settlement and data transfer layer for the Internet of Things (IoT). It is based on a novel distributed ledger technology, the Tangle, which overcomes the inefficiencies of current Blockchain designs and introduces a new way of reaching consensus in a decentralized peer-to-peer system. ... and this is how it looks!
Stateless Wallet for Windows, Mac OS X & Linux. Semi-deprecated, yet secure. If you can, please use Trinity instead. Please also note that as of May 31, 2018, the old Android Wallet is deprecated and should no longer be used!
The DevIOTA ecosystem by Semko, consisting of: Field, a node graph explorer, load balancer and incentiviser. Romeo, a lightweight ledger built on top of the IOTA Tangle. Bolero, a set of tools that enable easy download/setup of IOTA IRI & Nelson P2P. Nelson, enabling automatic peer discovery for IOTA nodes. Hercules - IRI on steroids!
Exchanges Please inform yourself before you invest in any cryptocurrency! Private key / seed security is of utmost importance! Do no use an online seed generator! Do not share your seed with anybody! Do not input your seed into any websites that you don’t trust! You are your own bank, you are responsible for your tokens, and nobody can refund you if you loose your money. Like other cryptocurrency tokens, the IOTA token can be bought and traded on exchanges such as Bitfinex, OKEx, Coinone, Binance, Huobi, Ovis, Gate.io, Exrates, HitBTC, CoinFalcon, Cobinhood, BitPanda & Omoku. The denomination on exchanges is MIOTA, which is one million IOTA tokens.
Binance Launches Two Crypto Futures Platforms for User Testing
Cryptocurrency exchange Binance has launched not one, but two test platforms for its planned crypto futures products. Dubbed Futures A and Futures B, the new testnets are now open for users to play with using dummy assets, with new competitions to encourage traders to get involved. On Monday, Binance announced on its website that users will be able to vote for their favorite futures testnet, with the winning version to become the official platform. As for the competitions, Binance said it will award prizes totaling 10,000 Binance coin (BNB) – worth around $215,700 at press time – for each platform. Users who vote for the winning testnet will also be given a trading fee discount on Binance for a month. In early July, Binance founder and CEO Changpeng “CZ” Zhao revealed that crypto futures were on the way, showcasing a trading interface with features including longs and shorts on crypto assets. The exchange also launched crypto loans on Aug. 28 in a bid to attract user deposits. Initially, users will be able to lend their U.S. dollar-pegged USDT, ethereum classic (ETC) and Binance’s BNB cryptocurrency in order to earn interest, payable from Aug. 29 to Sept. 11. Annualized interest rate for the initial lending products with a 14-day fixed maturity term, has been set at 15 percent, 10 percent and seven percent, for BNB, USDT, and ETC, respectively.
With the large number of new readers coming to this sub we need to make information easy to access so those readers can make informed decisions. We all know there is an unusually large amount of Fear, Uncertainty and Doubt (FUD) surrounding EOS. Frankly, when clear evidence is provided it’s not that difficult to see EOS for the extremely valuable project it is. This post hopes to begin to put an end to all the misinformation by doing the following:
Giving a clear and concise answer to the most frequently asked questions in regards to EOS.
Giving a more in-depth answer for those who want to read more.
Allowing readers to make informed decisions by making credible information easy to access.
As EOS climbs the ranks we need to recognise there are going to be a lot of skeptical readers coming over and posting their questions. Sometimes they will be irrational, hostile and often just looking for a reaction. We should make it our responsibility to welcome everyone and refrain from responding emotionally to provocative posts, instead providing factual and rational answers. I will add to this post as and when I can, if you have any ideas or spot any mistakes let me know and I'll get them fixed ASAP. Im planning to add a bit on the team, centralisation and DPOS, governance and EOS VC shortly but please let me hear your suggestions!
1. How do you registeclaim your EOS tokens before June 2018?
Select Metamask, MyEtherWallet, or Ethereum Wallet
Follow the guide.
Remember that the reason you need to register your Ethereum ERC-20 address is to include your EOS tokens in order for the balance of your EOS Tokens to be included in the Snapshot if a Snapshot is created, you must register your Ethereum address with an EOS public key. The EOS snapshot will take place prior to the 1 June 2018. After this point your ERC-20 EOS tokens will be frozen. And you will be issued EOS tokens on the EOS blockchain.
So PLEASE REGISTER your Ethereum address NOW, don't forget about it, or plan on doing it some time in the near future.
There are a lot of submissions about this in /eos, so rather than making a new one please reply to this thread with any questions you may have. Don't forget to join the EOS mailing list: https://eos.io/#subscribe and join the EOS community on your platform(s) of choice: Telegram, Discord and/or Facebook. And remember, if anyone instructs you to transfer ETH to an EOS contract address that doesn't match the address found on https://eos.io you are being scammed.
2. How will the token the ERC-20 EOS tokens be transferred to the native blockchain?
There isn't one! Read the long answer then read it again, registering your Ethereum wallet is mandatory!
Within 23 hours after the end of the final period on June 1, 2018 at 22:59:59 UTC, all EOS Tokens will become fixed (ie. frozen) and will become non-transferrable on the Ethereum blockchain. In order to ensure your tokens are transferred over to the native blockchain you must register your Ethereum address with an EOS public key, if you do not you will lose all your tokens! I am not going to link any tutorials as there are many that can be found by searching Google and YouTube. block.one is helping with the development of snapshot software that can be used to capture the EOS token balance and registered EOS public key of wallets on the Ethereum blockchain. It is then down to the community to create the snapshot. This snapshot can be used when generating a genesis block for a blockchain implementing eos.io software. block.one will not be launching EOS blockchains or operating any of their nodes.
Exchange Support Some exchanges have announced that they will support the token swap. Although using this method will undoubtedly be much simpler than registering the tokens yourself it also comes with its pitfalls.
It is highly likely there are going to be multiple networks running on the eos.io software that use the snapshot. It is highly unlikely that exchanges will support them all.
It is highly likely that exchanges will not support airdrops that use the snapshot.
Exchanges that have announced support for the token swap include:
EOS.IO software is aiming to provide a decentralized operating system which can support thousands of industrial scale DApps by enabling vertical and horizontal scaling.
EOS.IO is software that introduces a blockchain architecture designed to enable vertical and horizontal scaling of decentralized applications. This is achieved through an operating system-like construct upon which applications can be built. The software provides accounts, authentication, databases, asynchronous communication and the scheduling of applications across multiple CPU cores and/or clusters. The resulting technology is a blockchain architecture that has the potential to scale to millions of transactions per second, eliminates user fees and allows for quick and easy deployment of decentralized applications.
CEO Brendan Blumer - Founder of ii5 (1group) and okay.com. He has been in the blockchain industry since 2014 and started selling virtual assets at the age of 15. Brenden can be found on the Forbes Cypto Rich List. Brendan can be found on Twitter.
CTO Dan Larimer - Dan's the visionary industry leader who built BitShares, Graphene and Steemit as well as the increasingly popular Proof of Stake Governance and Decentralised Autonomous Organization Concept. He states his mission in life is “to find free market solutions to secure life, liberty, and property for all.”. Dan can also be found on the Forbes Cypto Rich List. Dan can be found on Twitter and Medium.
Partner Ian Grigg - Financial cryptographer who's been building cryptographic ledger platforms for 2+ decades. Inventor of the Ricardian Contract and Triple-Entry Accounting.
6. Which consensus mechanism does EOS use and what are Block Producers?
Delegated Proof of Stake (DPOS) with Byzantine Fault Tolerance. Block Producers (BPs) produce the blocks of the blockchain and are elected by token holders that vote for them. BPs will earn block rewards for their service, these block rewards come in the form of EOS tokens produced by token inflation.
“EOS.IO software utilizes the only known decentralized consensus algorithm proven capable of meeting the performance requirements of applications on the blockchain, Delegated Proof of Stake (DPOS). Under this algorithm, those who hold tokens on a blockchain adopting the EOS.IO software may select block producers through a continuous approval voting system. Anyone may choose to participate in block production and will be given an opportunity to produce blocks, provided they can persuade token holders to vote for them. The EOS.IO software enables blocks to be produced exactly every 0.5 second and exactly one producer is authorized to produce a block at any given point in time. If the block is not produced at the scheduled time, then the block for that time slot is skipped. When one or more blocks are skipped, there is a 0.5 or more second gap in the blockchain. Using the EOS.IO software, blocks are produced in rounds of 126 (6 blocks each, times 21 producers). At the start of each round 21 unique block producers are chosen by preference of votes cast by token holders. The selected producers are scheduled in an order agreed upon by 15 or more producers. Byzantine Fault Tolerance is added to traditional DPOS by allowing all producers to sign all blocks so long as no producer signs two blocks with the same timestamp or the same block height. Once 15 producers have signed a block the block is deemed irreversible. Any byzantine producer would have to generate cryptographic evidence of their treason by signing two blocks with the same timestamp or blockheight. Under this model a irreversible consensus should be reachable within 1 second."
7. How does the voting process work?
The voting process will begin once the Block Producer community releases a joint statement ensuring that it is safe to import private keys and vote. Broadly speaking there will be two methods of voting:
Command Line Interface (CLI) tools
EOS Canada has created eosc, a CLI tool that supports Block Producer voting. Other Block Producer candidates such as LibertyBlock are a releasing web portal that will be ready for main net launch. There will be many more options over the coming weeks, please make sure you are always using a service from a trusted entity. Remember: Do not import your private key until you have seen a joint statement released from at least five Block Producers that you trust which states when it is safe to do so. Ignoring this warning could result in tokens lost.
8. What makes EOS a good investment?
Team - EOS is spearheaded by the visionary that brought us the hugely successful Bitshares and Steem - arguably with two projects already under his belt there is no one more accomplished in the space.
Funding - EOS is one of the best funded projects in the space. The block.one team has committed $1B to investing in funds that grow the EOS echo system. EOS VC funds are managed by venture leaders distributed around the world to insure founders in all markets have the ability to work directly with local investors. Incentives such as the EOS hackathon are also in place with $1,500,000 USD in Prizes Across 4 Events.
Community Focus - The team is aware that the a projects success depends almost entirely on its adoption. For this reason there has been a huge push to develop a strong world wide community. There is already a surplus number of block producers that have registered their interest and started to ready themselves for the launch and incentives the EOS hackathon are being used to grow the community. A index of projects using EOS can be found at https://eosindex.io/posts.
Technical Advantages - See point 9!
9. What are the unique selling points of EOS?
Potential to scale to millions of transactions per second
This depends entirely on your definition of working product. If a fully featured developer release meets your definition then yes!. Otherwise the public release will be June 2018.
EOS differs from other projects in that it aims to deliver a fully featured version of the software on launch. The Dawn 3.0 RC1 feature complete pre-release became available on April 5th. This version has all the features of the final release that is due June 2018. Further development will involve preparing the final system contract which implements all of the staking, voting, and governance mechanics. The common notion that there is no viewable code published is wrong and the initial Dawn 1.0 release has been available from September 14th 2017.
11. EOS is an ERC-20 token, how can it possibly be a competitor to other platforms?
The ERC-20 token is used only for raising funds during the token distribution; all tokens will be transferred to the native blockchain once launched.
EOS team has clearly stated their reason for choosing the Ethereum network when they described the rationale behind the ICO model. Specifically, the ICO should be a fair and auditable process, with as little trust required as possible. If you believe that an ICO should be fair, auditable, and trustless, you have no choice but to use a decentralized smart contract blockchain to run the ICO, the largest, and by-far most popular of which is Ethereum. Since EOS is intended to be a major competitor for Ethereum, some have seen this as a hypocritical choice. - Stolen from trogdor on Steam (I couldn’t word it any better myself).
12. Why do the eos.io T&C’s say the ERC-20 token has no value?
The EOS T&C’s famously state:
"The EOS Tokens do not have any rights, uses, purpose, attributes, functionalities or features, express or implied, including, without limitation, any uses, purpose, attributes, functionalities or features on the EOS Platform."
This is legal wording to avoid all the legal complications in this emerging space, block.one do not want to find themselves in a lawsuit as we are seeing with an increasing amount of other ICOs. Most notably Tezos (links below).
This all comes down to legal issues. Anyone who’s been into crypto for 5 minuets knows that government bodies such as the Securities and Exchange Commission (SEC) are now paying attention to crypto in a big way. This legal wording is to avoid all the legal complications in this emerging space, block.one do not want to find themselves in a lawsuit as we are seeing with an increasing amount of other ICOs. Many token creators that launched ICOs are now in deep water for selling unregistered securities.
A filing from the Tezos lawsuit:
"In sum, Defendants capitalized on the recent enthusiasm for blockchain technology and cryptocurrencies to raise funds through the ICO, illegally sold unqualified and unregistered securities, used a Swiss-based entity in an unsuccessful attempt to evade U.S. securities laws, and are now admittedly engaged in the conversion, selling, and possible dissipation of the proceeds that they collected from the Class through their unregistered offering."
To ensure EOS tokens are not classed as a unregistered security block.one has made it clear that they are creating the EOS software only and won’t launching a public blockchain themselves. This task is left down to the community, or more precisely, the Block Producers (BPs). The following disclaimer is seen after posts from block.one:
"block.one is a software company and is producing the EOS.IO software as free, open source software. This software may enable those who deploy it to launch a blockchain or decentralized applications with the features described above. block.one will not be launching a public blockchain based on the EOS.IO software. It will be the sole responsibility of third parties and the community and those who wish to become block producers to implement the features and/or provide the services described above as they see fit. block.one does not guarantee that anyone will implement such features or provide such services or that the EOS.IO software will be adopted and deployed in any way.”
It is expected that many blockchains using eos.io software will emerge. To ensure DAPPs are created on an ecosystem that aligns with the interests of block.one a $1bn fund will be has been created to incentivise projects to use this blockchain.
“A lot of token distributions only allow a small amount of people to participate. The EOS Token distribution structure was created to provide a sufficient period of time for people to participate if they so choose, as well as give people the opportunity to see the development of the EOS.IO Software prior to making a decision to purchase EOS Tokens.”
It is also worth noting that block.one had no knowledge how much the the token distribution would raise as it is determined by the free market and the length of the token distribution is coded into the Ethereum smart contract, which cannot be changed.
14. Where is the money going from the token distribution?
Funding for the project was raised before EOS was announced, the additional money raised from the token distribution is largely going to fund projects on EOS.
A large portion of the money raised is getting put back into the community to incentivise projects using eos.io software. block.one raised all the money they needed to develop the software before the ERC-20 tokens went on sale. There are some conspiracies that block.one are pumping the price of EOS using the funds raised. The good thing about blockchain is you can trace all the transactions, which show nothing of the sort. Not only this but the EOS team are going to have an independent audit after the funding is complete for piece of mind.
From eos.io FAQ:
“block.one intends to engage an independent third party auditor who will release an independent audit report providing further assurances that block.one has not purchased EOS Tokens during the EOS Token distribution period or traded EOS Tokens (including using proceeds from the EOS Token distribution for these purposes). This report will be made available to the public on the eos.io website.”
A more complete list of EOS projects can be found at eosindex.io.
16. Dan left his previous projects, will he leave EOS?
When EOS has been created Dan will move onto creating projects for EOS with block.one.
When a blockchain project has gained momentum and a strong community has formed the project takes on a life of its own and the communities often have ideas that differ from the creators. As we have seen with the Bitcoin and Ethereum hark forks you cant pivot a community too much in a different direction, especially if its changing the fundamentals of the blockchain. Instead of acting like a tyrant Dan has let the communities do what they want and gone a different way. Both the Bitshares and Steem were left in a great position and with Dans help turned out to be two of the most successful blockchain projects to date. Some would argue the most successful projects that are actually useable and have a real use case. What Dan does best is build the architecture and show whats possible. Anyone can then go on to do the upgrades. He is creating EOS to build his future projects upon it. He has stated he loves working at block.one with Brendan and the team and there is far too much momentum behind EOS for him to possibly leave.
No one could have better knowledge on this subject than our Block Producer candidates, I have chosen to look to EOS New York for this answer:
"DDoS'ing a block producing is not as simple as knowing their IP address and hitting "go". We have distributed systems engineers in each of our candidate groups that have worked to defend DDoS systems in their careers. Infrastructure can be built in a way to minimize the exposure of the Block Producing node itself and to prevent a DDoS attack. We haven't published our full architecture yet but let's take a look at fellow candidate EOSphere to see what we mean. As for the launch of the network, we are assuming there will be attacks on the network as we launch. It is being built into the network launch plans. I will reach out to our engineers to get a more detailed answer for you. What also must be considered is that there will be 121 total producing and non-producing nodes on the network. To DDoS all 121 which are located all around the world with different security configurations at the exact same time would be a monumental achievement."
18. If block producers can alter code how do we know they will not do so maliciously?
Block producers are voted in by stake holders.
Changes to the protocol, constitution or other updates are proposed to the community by block producers.
Changes takes 2 to 3 months due to the fact block producers must maintain 15/21 approval for a set amount of time while for changes to be processed.
To ensure bad actors can be identified and expelled the block.one backed community will not back an open-entry system built around anonymous participation.
For this question we must understand the following.
Governance and why it is used.
The process of upgrading the protocol, constitution & other updates.
Dan’s view on open-entry systems built around anonymous participation.
Governance Cryptography can only be used to prove logical consistency. It cannot be used to make subjective judgment calls, determine right or wrong, or even identify truth or falsehood (outside of consistency). We need humans to perform these tasks and therefore we need governance! Governance is the process by which people in a community:
Reach consensus on subjective matters of collective action that cannot be captured entirely by software algorithms;
Carry out the decisions they reach; and
Alter the governance rules themselves via Constitutional amendments.
Embedded into the EOS.IO software is the election of block producers. Before any change can be made to the blockchain these block producers must approve it. If the block producers refuse to make changes desired by the token holders then they can be voted out. If the block producers make changes without permission of the token holders then all other non-producing full-node validators (exchanges, etc) will reject the change.
Upgrade process The EOS.IO software defines the following process by which the protocol, as defined by the canonical source code and its constitution, can be updated:
Block producers propose a change to the constitution and obtains 15/21 approval.
Block producers maintain 15/21 approval of the new constitution for 30 consecutive days.
All users are required to indicate acceptance of the new constitution as a condition of future transactions being processed.
Block producers adopt changes to the source code to reflect the change in the constitution and propose it to the blockchain using the hash of the new constitution.
Block producers maintain 15/21 approval of the new code for 30 consecutive days.
Changes to the code take effect 7 days later, giving all non-producing full nodes 1 week to upgrade after ratification of the source code.
All nodes that do not upgrade to the new code shut down automatically.
By default, configuration of the EOS.IO software, the process of updating the blockchain to add new features takes 2 to 3 months, while updates to fix non-critical bugs that do not require changes to the constitution can take 1 to 2 months.
Open-entry systems built around anonymous participation To ensure bad actors can be identified and expelled the block.one backed community will not back an open-entry system built around anonymous participation. Dan's quote:
"The only way to maintain the integrity of a community is for the community to have control over its own composition. This means that open-entry systems built around anonymous participation will have no means expelling bad actors and will eventually succumb to profit-driven corruption. You cannot use stake as a proxy for goodness whether that stake is held in a bond or a shareholder’s vote. Goodness is subjective and it is up to each community to define what values they hold as good and to actively expel people they hold has bad. The community I want to participate in will expel the rent-seeking vote-buyers and reward those who use their elected broadcasting power for the benefit of all community members rather than special interest groups (such as vote-buyers). I have faith that such a community will be far more competitive in a market competition for mindshare than one that elects vote buyers."
19. What is the most secure way to generate EOS key pairs?
Block producer candidates EOS Cafe and EOS New York have come forward to help the community with this topic. The block producer candidate eosnewyork has kindly posted a tutorial on steemit detailing the steps that need to be taken to generate key pairs using the official code on the EOS.IO Github. The block producer candidate eoscafe has gone a step further and released an Offline EOS Key Generator application complete with GUI for Windows, Linux & Mac. Not only can this application generate key pairs but it can also validate key pairs and resolve public keys from private keys. This application has also been vouched for by EOS New York
Kickstarter Roundup: Sep 9, 2018 | 29 Ending Soon (including: Unstable Unicorns: Control & Chaos) & 37 New This Week (including: Horizon Zero Dawn)
What this is:
This is a weekly, curated listing of Kickstarter tabletop games projects that are either:
newly posted in the past 7 days, or
ending in the next 7 days (starting tomorrow) and have at least a fighting chance of being funded. All board game projects meeting those criteria will automatically be included, no need to ask. (But the occasional non-board game project may also sneak in!) Expect new lists each Sunday sometime between 12:00am and 12:00pm PST.
TROIKA! RPG: Numinous Edition TROIKA! is a complete science-fantasy RPG full of critically acclaimed writing, inbuilt wonder and room for players and GMs to go wild. (Has currently earned £12,517 of £5,000)
NEXUS: Tabletop Arena Combat Nostalgic, miniature-based, arena combat where the arena is trying to kill everyone involved! It's a chaotic dice fueled bloodbath! (Has currently earned $45,706 of $100,000)
A strategic party game for the deranged. Designed for 4-10 players 13 yrs or older. Players perform challenges to earn Badonka Dollars. The most money after 60-90 mins wins! (Has currently earned $11,453 of $10,000)
Heroes vs Warlords Heroes vs Warlords is a fantasy strategy game for 2 or 3 players that simulates the struggle between Amazons, Barbarians and Knights. (Has currently earned €8,615 of €20,000)
Horizon Zero Dawn™ - The Board Game Hunt in a distant future where machines roam wild and mankind is no longer the dominant species. In partnership with SIEE and Guerrilla (Has currently earned £719,243 of £155,000)
Kneecapped A card game simulating being in a horror film. (Has currently earned $356 of $10,000)
Machina Arcana ~ From Beyond Travel the unknown, face the horrors, and survive the story. An immersive and dark experience awaits you and your group of explorers. (Has currently earned $94,102 of $30,000)
Magnets: The Game A tabletop dexterity game, with Magnets! "It's the Marbles of the 21st Century" (Has currently earned $2,260 of $14,000)
Looking for more comprehensive Kickstarter gaming information? Check out the meta listings on BGG, explore Kicktraq's data-driven views, or, of course, Kickstater's Tabletop Category. ## Footnotes - #hmm means that something about the project seems a little off. Buyer beware kinda thing. - #lolwut is reserved for projects that seem like trainwrecks. Check 'em out for amusement. - #take tags are for projects that have been restarted for some reason, with the number indicating what iteration we're currently on. - Did I miss something? Particularly something new in the last 7 days or ending in the next 7 days? Let me know in the comments and I'll add it in. Tip Jar - Keep me in Kickstarter money.
The Ultimate Beginner’s Guide to Cryptocurrency Trading In this guide, I will provide readers with the basic tools necessary in order to get started on their journey in cryptocurrency trading. Depending on the reception this guide gets, it is my intention to release more guides, with more advanced techniques. Currency Trading For Dummies Cheat Sheet. By Kathleen Brooks, Brian Dolan . Foreign exchange (or forex) markets are one of the fastest and most volatile financial markets to trade. Money can be made or lost in a matter of seconds; at the same time, currencies can display significant trends lasting several days, weeks, even years. Most Cryptocurrency Investing For Dummies Cheat Sheet; Cheat Sheet. Investing and trading cryptocurrencies can be different than investing in other assets, but there are some similarities as well. Here are the most important things you must have before jumping into the cryptocurrency investing space: Trading Speculate in cryptocurrency for dummies Speculation in cryptocurrencies At a time when the traditional markets and safe havens seem to offer us little return, it is no more than normal for investors to look for other places. Many people who have considerable assets imagine that this capacity must be able to achieve lasting growth.… Traders can only make reasonable trading decisions based on chart signals rather than on plain intuition or based on nothing, as it is the case in gambling. A useful cryptocurrency trading guide for beginners should give it’s readers a range of tools they can use to find trading signals, everything pictorially and simply explained.
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