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Kin Community FAQ, Guidelines, & Ecosystem Directory

Kin Community FAQ, Guidelines, & Ecosystem Directory
Kin FAQ
  1. What is Kin?
  2. Where can I earn & spend Kin?
  3. Where can I buy Kin?
  4. Where can I store Kin?
  5. Why is the total supply so large?
  6. Why isn't Kin on [xyz] exchange? When will it be?
  7. Is there any update on [Y] announcement? Can you speak on [insert rumor here]? When will we be able to do [Z]?
  8. How can I contact the developers / support staff of [insert app name here]?
  9. How can I contact the Kin Foundation?
  10. How can I track transactions on the Kin blockchain?
  11. I still have ERC-20 based Kin (on the Ethereum blockchain), how can I migrate?
  12. I heard the SEC is suing Kik, is that true? What does it mean for Kin?
  13. How was Kin distributed at launch and how does it enter circulation?
  14. I want to integrate Kin into my software project. How do I get started? Where is the developer community?
  15. How can I keep up with the latest developments in Kin?
1 - What is Kin?
Kin is money for the digital world. It can be earned and spent across an entire ecosystem of applications, thanks to the blockchain. If you don’t know what that means, don’t worry; you don’t have to. Kin is designed to be accessible by a broad mainstream audience- computer science degree not required. By bringing together developers and users of all kinds to build in a shared new digital economy, we can create a more fair playing field; one in which the developers and content creators that build these virtual realities are rewarded based on their contributions, not harvested for their personal data and attention against their will. If you’d like to learn more about Kin, here are some resources to get you started:
· Kin Website: https://www.kin.org/
· Kin Whitepaper: https://www.kin.org/static/files/Kin_Whitepaper_V1_English.pdf
· The Vision for Kin: https://medium.com/kinblog/the-vision-for-kin-6ee048a3a979
· Announcement of Kin: https://www.youtube.com/watch?v=5le2n230oTk
· Introduction to Kin (by u/kyzermf): https://medium.com/hackernoon/introduction-to-kin-universal-virtual-currency-for-apps-ea6464225ffc
2 - Where can I earn & spend Kin?
Kin is going live in a growing number of apps. To see which ones, you can check out the Ecosystem Directory below, or keep up with some of these resources:
· via Kin Website: https://www.kin.org/kin-apps/
· Apps with Kin (by u/Neliss31) https://appswithkin.com/index.php
· Kin Appz (by u/hepays) https://www.kinappz.com/
3 - Where can I buy Kin?
In addition to the ecosystem of apps available to earn Kin, you can also purchase it in larger amounts. It is currently available for purchase on cryptocurrency exchanges listed here:
· CoinMarketCap Exchanges List for Kin https://coinmarketcap.com/currencies/kin/#markets
Note that these are independent organizations and therefore only they can provide guarantees on customer service and experience, please do your due diligence in navigating and utilizing these exchanges. Also note that cryptocurrencies are inherently volatile, trade at your own risk. Kin is money for the digital world, not a stablecoin.
4 - Where can I store Kin?
While using Kin inside of apps, make sure to create a backup of your wallet when possible. It is not recommended that you store large amounts of Kin in your user wallets, and instead seek out a more robust solution. There are lots of subtle differences to the kinds of wallets and how to use them, including trade-offs in security vs convenience. Make sure to do your research and be careful when handling your hard-earned Kin:
Offline (“Cold”) Storage:
· My Kin Wallet https://www.mykinwallet.org/
· Guide: Creating A Paper Wallet for Storing Your Kin Safely Offline (by u/TheRealChaseEB) https://www.reddit.com/KinFoundation/comments/bylk0creating_a_paper_wallet_for_storing_your_kin/
Hardware Wallets:
· Ledger Hardware Wallets (works with My Kin Wallet) https://www.ledger.com/
Software Wallets:
· Trust Wallet (Mobile) https://trustwallet.com/
· Atomic Wallet (Mobile & Desktop) https://atomicwallet.io/
· Guarda Wallet (Mobile & Desktop) https://guarda.co/
· Magnum Wallet (Web) https://magnumwallet.co/
5 - Why is the total supply so large?
Kin is meant to be transacted by a large number of users in manageable denominations, just like physical money.
6 - Why isn’t Kin on [xyz] exchange? When will it be?
A healthy market for developers and users is essential to all stakeholders who want to build a vibrant economy around Kin as a currency. That said, a number of blockers have prevented further listings from happening; for example we needed to first have a unified & functional product and underlying technology before pursuing secondary markets. In addition to this there has been regulatory uncertainty surrounding the listing of digital assets in the United States including Kin specifically, especially since the filing of a misleading legal complaint by the US SEC. Due to this, the Kin Foundation is pressing on in other markets on behalf of the ecosystem to try and facilitate more platforms for everyone to buy & use Kin in their different ways. We do not know when Kin will be listed on exchanges, and anyone who does cannot say due to legal and security agreements.
7 - Is there any update on [Y] announcement? Can you speak on [insert rumor here]? When will we be able to do [Z]?
While we believe in maintaining the utmost transparency wherever possible, we will typically announce things as they are ready and report on progress as it becomes pertinent, as to not create unfounded hype and adhere to internal strategies. While it might be tempting to seek constant updates, please remember that answering questions takes time, and everyone is busy working hard to actually build the things we are all excited to see. We will do our best to keep everyone updated on the things they care about. We do not comment on rumors and we may be constricted in our ability to communicate at any given moment on ongoing internal affairs that may fall within certain legal or strategic confines.
8 - How can I contact the developers / support of [insert app name here]?
Please refer to the Kin Ecosystem directory below.
9 - How can I contact the Kin Foundation?
You can email us at [[email protected]](mailto:[email protected]) , or if you’d like to DM a specific representative or discuss something in an open setting you can also reach out to us and the community here.
Here are some relevant contacts that represent Kin Foundation,Kin Tel Aviv, & Kin San Francisco in the community:
Community u/benji5656
Communications u/kevin_from_kin
Developer Experience (Kin.org, Kin SDK, and Kin Developer Program) u/therealchaseeb
Blockchain (Core infrastructure of the Kin Blockchain) u/gadi_sr
Ecosystem (High touch integrations with mature developers) u/rinatbogin
KRE (The incentive protocol that drives the growth of the ecosystem) u/oradwe
UX Research u/YonatanDub
Kin San Francisco u/matty_hibs
10 - How can I track transactions on the Kin blockchain?
Here are some resources for monitoring the blockchain:
· via Kin Website https://www.kin.org/blockchainExplorer
· Kin Explorer (by u/Chancity) https://v2.kinexplorer.com/explorer
· Kin Bubbles (by u/kidwonder) https://kin-bubbles.herokuapp.com/
· Kin Transaction Visualizer (by u/sednax) http://bitcoin.interaqt.nl/kin.html
11 - I still have ERC-20 based Kin (on the Ethereum blockchain), how can I migrate?
Follow the directions laid out here: https://www.kin.org/migration/
12 - I heard the SEC is suing Kik, is that true? What does it mean for the Kin Foundation?
It’s true. After cooperating with an investigation and multiple attempts to reach an amicable settlement, the SEC filed a disparaging and mischaracterized complaint against Kik for not registering the initial sale of Kin as a security offering. Kik is fighting back. They are in a unique position to take on this case, however, unlike the initial Wells Notice, the Kin Ecosystem Foundation is not named in the complaint.
As noted by the Blockchain Association:
When we look at the Kik investigation, we can tell from the Wells Notice that the SEC originally looked at both Kik Interactive and the Kin Foundation. However, when the complaint was issued, it only focused on the offering of Kin in the September 2017 token sale, not Kin in the ecosystem today. The fact that the SEC investigated the Kin Foundation, but decided not to pursue a complaint is good news for developers, platforms, and others in the ecosystem who use these tokens because it separates the question of the token sale from the activities in the ecosystem since then. ("What the SEC-Kik complaint didn’t cover — and why this is good news for the crypto community")
As the legal battle rages on, the foundation will help Kik to amplify their defense as they correct the record publicly; but also focus on the development of the ecosystem which will continue beyond the SEC battle regardless. Expect ongoing updates as the fight continues to unfold publicly.
**Update**: - Kik has put together DefendCrypto, a fund dedicated to legal initiatives that benefit the cryptocurrency industry, so that companies that don't have the same resources can stand up against unfair regulation in fights of their own. Visit DefendCrypto.org to learn more and join the fight to defend innovation and participation in the cryptocurrency industry in the United States.
- Kik Answers SEC Complaint: https://www.prnewswire.com/news-releases/kik-answers-sec-complaint-300897681.html?tc=portal_CAP Kik has filed and published a 130 page, paragraph-by-paragraph refutation of the SEC's allegations.
- Additional Resources: Interview w/ Eileen Lyon, General Counsel and Chief Compliance Officer at Kik https://medium.com/kinblog/kin-foundation-asks-interview-w-eileen-lyon-general-counsel-and-chief-compliance-officer-at-kik-bbcf3b7a6961
13 - How was Kin distributed at launch and how does it enter circulation?
The Kin Foundation sold 1 trillion (10% of total supply) in a token distribution event in September 2017 that was split between a pre-sale (487.80 billion sold) and a public sale (512.20 billion sold). Half of the tokens sold during the pre-sale (244 billion) are subject to a one-year lock-up period. Kik received 3 trillion tokens (30% of total supply), which vested at a rate of 300 billion tokens quarterly for 10 quarters, and the Kin Foundation received 6 trillion (60% of total supply). The Kin Foundation tokens will be distributed through the Kin Rewards Engine, which divides the allocation between network participants and marketing and operational costs for the Kin Foundation (6 trillion Kin has been split into 4.5 trillion for network participants, and 1.5 trillion for marketing and other operational costs of the Kin foundation). Kin Foundation tokens for network participants are schedule to be distributed to the network at a rate of 20% of the remaining balance per year.
To learn more about and follow along with Kin allocation, check out Kin's page below, which was published in the spirit of transparency and disclosure in collaboration with Messari:
https://messari.io/asset/kin
14 - I want to integrate Kin into my software project. How do I get started? Where is the developer community?
Check out these developer resources!
Website: https://www.kin.org/developers
Documentation: https://docs.kin.org/intro
Android Tutorial Series: https://medium.com/kinblog/kin-android-development-tutorial-part-i-introduction-to-kin-83b21834a27e
Unity Tutorial Series: https://medium.com/kinblog/building-a-kin-powered-app-with-unity-cf8deef56bdb
Developer Communities: Kin Foundation Developer Forums: https://kindevforum.kin.org/ Kin Foundation Developer Discord: https://discordapp.com/invite/JavjKSx
Implementing Kin in PHP, Ruby, Javascript, Go, and 51+ Other Languages (by u/sednax): https://medium.com/@luc.hendriks/implement-kin-in-php-javascript-ruby-go-and-51-other-programming-languages-c7ae616de700
15 - How can I keep up with the latest developments in Kin?
Sign up for the Kin Newsletter here: https://ecopartners.kin.org/newsletter_signup
This subreddit also serves as a civil space for community to share and discuss developments.
Forum Rules & Guidelines
Purpose of the Forum
The KinFoundation subreddit is the public square for discussion and collaboration across the Kin ecosystem. It is important that we embrace the potential of the forum and foster a space where developers do not censor themselves, the curious are free to ask questions without shame, and holders are willing to collaborate on initiatives and discuss ongoing developments. For that reason, we have decided to broaden the discussion while also pinpointing fair and transparent moderation guidelines that will allow for a productive and healthy environment. This subreddit exists for the purpose of maintaining insight on what’s happening with the Kin Ecosystem, acting as a social gathering for its many participants, and mobilizing the community for things like collaborative initiatives, product feedback for developers, idea-sharing, and more.
Moderation Principles
· Transparency
All moderation actions should be guided by the principles laid out in this document and in the spirit of creating a productive and healthy environment for discussion & collaboration, although it is also understood to be iterative and subject to change.
· Objectivity
All moderation actions should be guided by a rules & practices-based approach, not one of personal judgment.
· Fairness
All moderation actions should be even-handed and based on agreeable principles that enable free but also fruitful discussion.
Code of Conduct
To participate in the public square, you must adhere to certain rules of conduct, which were created with the maintenance of productivity & civility in mind. Please review & refer to the rules here before and when posting:https://www.reddit.com/KinFoundation/about/rules/
Kin Ecosystem Directory
The Kin Ecosystem is a growing collective of independent teams, all aligned through a common incentive to build a more fair digital world. These teams build the tools, the infrastructure, and the apps that drive the reach and impact of Kin. As we continue to grow as an ecosystem, we want to make sure that the directory is maintained so that it can be a tool for everyone to use and contribute to. If you don’t see your app listed or want something changed, feel free to DM me or post here and tag me so that it can be updated. Some apps may be missing due to incomplete or inaccurate available details.
Organization -- Website -- Support / Contact--
· Bettapoint Website: https://bettapoint.com/ Contact: https://bettapoint.com/contact
· Castle Rush AR Website: https://www.darkvoodoostudios.com/castlerushar.html Contact: [[email protected]](mailto:[email protected]) (email)
· Catpurse Website: https://twitter.com/CatPurse1 Contact: [[email protected]](mailto:[email protected]) (email)
· Find (Find Travelers) Website: https://www.findtravelers.com/ Contact: [[email protected]](mailto:[email protected]) (email)
· FistBump.io Website: https://virtualbotgames.wixsite.com/fistbump Contact: [[email protected]](mailto:[email protected]) (email)
· imgvue Website: https://imgvue.com/ Contact: Contact Form
· Just Joking Website: https://kinloops.com/ Contact: See Website
· Kard Website: https://kinkard.org/ Contact: [[email protected]](mailto:[email protected]) (email)
· Kik Website: https://www.kik.com Contact: https://help.kik.com/hc/en-us
· Kimeo Website:https://kimeoapp.com/ Contact:[[email protected]](mailto:[email protected]) (email)
· Kinetik Website:https://www.kinetik.app/ Contact:[[email protected]](mailto:[email protected])
· KinFit Website:https://www.mykinfit.com/ Contact:[[email protected]](mailto:[email protected]) (email)
· Kin Foundation Website: https://www.Kin.org Contact: https://www.reddit.com/Kinfoundation
· Kinguist Website: Contact: [[email protected]](mailto:[email protected]) (email)
· Kinit Website:https://www.kinitapp.com/ Contact: [[email protected]](mailto:[email protected]) (email)
· Kinny Website: https://kinny.io/ Contact: [[email protected]](mailto:[email protected]) (email)
· Love & Loud Radio Website: https://www.loveandloudmusic.com/loveandloudradio Contact: [[email protected]](mailto:[email protected])
· Madlipz Website:https://www.madlipz.com/ Contact:https://www.madlipz.com/contact
· Matchmaker Website: Contact: [[email protected]](mailto:[email protected]) (email)
· MonkingMe Website: https://www.monkingme.com/ Contact: [[email protected]](mailto:[email protected]) (email)
· Nearby Website: https://www.wnmlive.com/ Contact: https://help.wnmlive.com/hc/en-us
· Pause For Website:https://pausefor.us/ Contact: [[email protected]](mailto:[email protected]) (email)
· PeerBet Website:https://peerbet.io/ Contact: [[email protected]](mailto:[email protected]) (email)
· Perfect365 Website: https://perfect365.com/ Contact: [[email protected]](mailto:[email protected]) (email)
· Photo Mail Joy Website: Contact:[[email protected]](mailto:[email protected]) (email)
· Planets Nu Website: https://planets.nu/#/home Contact:[[email protected]](mailto:[email protected]) (email)
· pop.in Website: https://pop.in/getapp Contact: [[email protected]](mailto:[email protected]) (email)
· Rave Website: https://rave.io/ Contact: https://rave.io/contact.html
· rentmole Website: https://rentmole.com/ Contact: [[email protected]](mailto:[email protected]) (email)
· Rentomania Website: http://rentomania.online/ Contact: [[email protected]](mailto:[email protected]) (email)
· RPS (Rock Paper Scissors) Website: http://www.rps.ack.ee/ Contact: [[email protected]](mailto:[email protected]) (email)
· Simple Transfer Website: https://www.kinlabs.ca/ Contact: [[email protected]](mailto:[email protected]) (email)
· Speed Genius Website: https://kinloops.com/ Contact: See website
· Step & Spend Website: Contact: [[email protected]](mailto:[email protected]) (email)
· Subti Website: https://vblago.github.io/ Contact: [[email protected]](mailto:[email protected]) (email)
· Subway Scooter Website: https://virtualbotgames.wixsite.com/fistbump Contact: [[email protected]](mailto:[email protected]) (email)
· Swelly Website: https://www.swelly.ai/ Contact: https://www.swelly.ai/#contact
· Sxlve Website: Contact:[[email protected]](mailto:[email protected]) (email)
· Syngli Website: https://www.syngli.com/ Contact: [[email protected]](mailto:[email protected]) (email)
· Tapatalk Website: https://www.tapatalk.com/ Contact: https://www.tapatalk.com/support
· ThisThat Website: https://www.thisthatapp.com/ Contact:
· Tiny Ted Website: https://www.kinlabs.ca/ Contact: [[email protected]](mailto:[email protected]) (email)
· Tippic Website: Contact: [[email protected]](mailto:[email protected]) (email)
· Trivia Clan Website: Contact: [[email protected]](mailto:[email protected]) (email)
· Trymoi Website: Contact: [[email protected]](mailto:[email protected]) (email)
· Uwe Website: https://www.uwe.ng/ Contact: [[email protected]](mailto:[email protected]) (email)
· Vent Website: https://www.vent.co/ Contact: [[email protected]](mailto:[email protected]) (email)
· Wicrypt Website: https://wicrypt.com/ Contact: [[email protected]](mailto:[email protected]) (email)
submitted by Kevin_from_Kin to KinFoundation [link] [comments]

BitMax.io & Lambda Joint AMA

BitMax.io & Lambda Joint AMA
George Cao :Let’s welcome lambda team . Xiaoyang and Lucy
Lambda: Hello friends from BitMax ~~ I am Lucy Wang, Co-founder and CMO of Lambda. I am very happy to e-meet with you here and thx for George's invitation. I on behalf of Lambda wish all of you a merry Christmas and prosperous new year in 2019
George Cao: Great. I am a bit surprised to see a big volume day yesterday Christmas. Seems our users didn’t take a break even on holidays :)
Lambda: I'd like to take this opportunity to introduce myself first, I have over 14 years of progressive career development with global leading enterprise software / service organizations as well as VC-backed start-up ventures, including HP, Oracle, and SAP. Before Lambda I was CMO/GM at two enterprise SaaS start ups in China backed by top VCs.
And my partner Mr. He Xiaoyang, who is the founder of Lambda, he is a well-known expert in infrastructure and open source software in China. Prior to Lambda, he was the co-founder of OneAPM, a fast-growing infrastructure software focusing on ITOM (IT operation management) in China. OneAPM is known as the “New Relic or AppDynamics of China” and the company has received strong VC backing from Matrix Partners, Chengwei Capital, and Qiming Venture. Prior to his entrepreneur experiences, Mr. HE worked at BEA as a R&D software engineer. In addition, Mr. HE is also a blogger with strong following in China and some of his articles have been published by major media such as Forbes China, 36Kr, Sina, etc.
Lambda idea was born at the end of year 2017 and the product development started from the beginning of 2018. Now let me talk about Lambda idea and what we do
Lambda, is the leading decentralized infrastructure project providing secure, reliable, and infinitely scalable decentralized storage network that enables data storage, data integrity check, security verification, and marketplace for storage-related services on the Lambda Chain Consensus Network.
In recent years, there have been frequent data leakage problems in major Internet platforms at home and abroad, and even business giants such as Facebook and Marriott have not been spared. Returning the value of data to data owners is an inevitable trend in line with human pursuit of freedom. The block-chain technology with P2P features provides an opportunity for this, and this area will be highly valued by the industry in the next few years. Lambda is the only provider of block-chain storage infrastructure projects in China. It is sometimes referred as “File-coin of China”or “File-coin 2.0”.our vision is to return the value of data to the data owner, with this vision in mind, our mission is to promote the decentralization of the Internet, with the goal of creating a storage infrastructure for the next generation of block-chain.
After the Lambda project launch in early 2018, it has received strong support by well-known strategic and financial investors including Bitmain, Viking Capital, FBG Capital, Bluehills, Zhen Fund, FunCity Capital, Ceyuan Digital Fund, BlockVC, INBlockChain, DATA Foundation, Bitcoin World, Reflextion Capital, etc. To date, Lambda has received investment funding in excess of $10M.

https://preview.redd.it/ynaos7rps2721.png?width=1267&format=png&auto=webp&s=77360b7cdf06c288e8c25675f94f5fb9d3d02137
n all the existing decentralized storage projects that are aiming to give a solution to this problem worldwide, Lambda is the first ever to announce its LPDP ( Lambda Provable Data Possession )
George Cao: I see we share several investors in common, So 2019 q1-q2 will be a big milestone for lambda
Lambda: Provable Data Possession (PDP) and Proofs of Retrievability (POR) are critical to efficient decentralized data storage and its implementation, which is the essential difference between centralized network projects and real decentralized storage. Prior to Inter-planetary
File System (IPFS), Lambda launched its minimum viable product (MVP) of core functions in the third quarter of 2018, and has been continuously upgrading and optimizing this in block-chains in a multi-role environment.
File-coin is our main competitor, here is a chart shows the progress comparison FYI

https://preview.redd.it/ewmyh9tqs2721.png?width=1267&format=png&auto=webp&s=cddc52a6d613196f6c0cbf870da42a5b82a8aaa6
For those who have interest to know more about Lambda's technical innovations, they can be find in our keep updating FAQ document posted on Medium, and I copied her FYI
1.Innovatively designed the Validator role which provides verification service for storage proof and the Validator replaces storage miner as the full-time storage proof result verifier, this greatly improves the performance of the storage and retrieval system.
2.In response to the limitations of the PDP algorithm, Lambda innovatively created a consensus network on the block-chain and used the validators role to replace the "TPA" in the PDP algorithm.
3.Innovatively modified the PDP algorithm from synchronous to asynchronous communication, which greatly reduces the communication traffic for Challenge in the system. Use of chain data as a random seed for storage miners to issue Challenge themselves addresses the randomness of TPA challenges.
4.Innovatively upgraded the PDP algorithm from periodic verification to a verification set generated by the miners to submit the verification result at one time, and fully realize the Proof-Of-Space-Time verification.
on top of all the technical, Lambda creates a consensus network where data can be stored, storage space can be rented on the basis of a marketplace built on block-chain.
In the Marketplace, the transaction process is: storage miners pledge hard disk sectors to the consensus network, and place orders and sell their own storage space in the Marketplace; storage users initiate purchase requests, complete the matching of storage requests through the Marketplace, and store data in the space of the storage miners.
Different from other block-chain applications, Lambda is a storage mining project, we have miners mine on Lambda network. Earn LAMB tokens by contributing on the network, and users who have data storing requirements pay Lamb tokens to purchase services accordingly.
The price of Lamb token not only rely on the exchanges but also supported by our miners who are doing works on the network.
There are four roles in the Lambda mining network: storage miners (providers of storage space), verification miners (ensuring the integrity and security of data and packaging transactions), retrieval miners (providing download bandwidth), and users (storage buyers). 1024 verification miners promoted from storage miners constitute the Lambda-chain consensus network. So you will see three types of miners serve our users from all over the world.
The key milestones we are looking at is the launch of test-net, where miners can start mining and earn testing Lamb tokens, the date will be around end of Jan. 2019 and main network will go live in Q2, 2019, most likely in Apr.
Regarding our partnership, In the academic field, we have established a strategic partnership with Beijing Institute of Technology (BIT), which is well known in China for its engineering and computer science research programs, to conduct research into centralized storage.
In the commercial field, Lambda has established a strategic collaboration with IOST, a well-known public blockchain project, and Perlin, a super computing platform, and started to conduct pilot projects for decentralized application (DAPP) companies such as DATA and BCV. Lambda also has close ties to many leading Internet data centers (IDCs) in China. They join the Lambda network as miners and take advantage of their surplus server capacity to engage in the Lambda network ecology.
Q: Will the rest of the code be open sourced? If so when ?
Lambda: we have released the codes of core function module, the test net codes will be released gradually in Jan. pls stay tuned with our official github
Q: What can Lamb tokens be used for?
Lambda: Lambs are tokens in the Lambda ecosystem, which are mainly used in the following scenarios:
A. Users of services in the Lambda ecosystem have to pay with Lambda tokens.
B. Providers of storage services in the system have to pledge a certain number of tokens.
C. Verification nodes in the system have to pledge a certain number of tokens.
D. Verification nodes can obtain a certain number of tokens as accounting rewards.
E. Storage nodes get a certain number of tokens based on their storage capacity and their service level agreements (SLAs).
F. Other roles in the Lambda ecosystem can also obtain a certain number of tokens based on their contributions.
Q: What more incentives does miner gets to mine or rent storage on Lambda?
Lambda: every miner stars from storage miner on Lambda network, they get paid by providing storage space, when their business getting bigger, system will select the top 1024 storage miners and promote them to validator, who will get block generation rewards from system.
Q: how are the 1024 miners selected? Doesn't this become more centralised?
Lambda: we did a survey to the Chinese miners, they mainly fall into two groups, either are waiting FileCoin to go live with purchased mining machine idle at home or they are doing hard drive or graphic cards mining, which has a high requirement to the hardware standard. To mine on Lambda, you need a mining machine ( computer ) that has big storage space ( because the bigger the higher probability you'll be promoted to be a validator ) and the connection to the internet
Q: How much is initial supply?
Lambda: Lambda did two rounds of fund raising, private investors have a lock up terms of 2+4+4 meaning the first 20% of tokens will only be released 2 months listing on exchange. so on the day one listing till 2 months there will be only around 0.5% initial circulation, and after 2 months, 5% in total. in addition to that, as we are recruiting miners to join our network, actually ppl have been in a situation where they can't wait to mine on our testnet. with the mining mechanism we have, miners need to buy Lamb token to get their mining work started, because a certain amount of pledge need to be made
Q: What partnership will lambda and bitmax have in the future?
Lambda: We value the way BitMax doing things and care about projects, we feel like we found the right exchange to be listed, in particular an initial listing. we will work with BitMax and do some joint campaigns to boost the community
George: We have great chemistry with lambda team.
Q: And are you still primary list in there, I heard the list was delay? Is it related to Huobi?
Lambda: you are right, it is related to Huobi, but one thing you can be assured of is that our initial listing on BitMax wont change, but most likely a joint listing with Huobi.
Q: what about the time of primary list?
Lambda: we will primarily list very soon, we are targeting end of this week, now we are in the middle of some technical integration with Huobi
George: We can assure everyone that our team will do our best to protect our investors and serve our listing projects. The promise does not change whether or not if we co-list with huobi.
Q: We get reward to mine ? Any incentive? For testnet
Lambda: Yes, you have two ways obtain Lamb tokens, buy from exchange and earn more from mining, but firstly you have to buy Lamb on BitMax haha. Are you asking the reward from testnet by mining on it? yes, you will get test Lamb token, and they can be redeemed to Lamb token with a ratio that will be specified shortly. on Lambda official website www.lambda.im, we have whitepaper, besides that we also have economic whitepaper to explain how the lambda economic system runs, on Dec. 28 we will launch our yellow paper where we will demonstrate the detailed technical realization and all the parameter setting for mining on Lambda
Q: What are the implications if a miners rig goes offline or they decide to stop?
Lambda: If miners rig goes off, they will not get the reward from the corresponding generated block, if they do cheating there will be punishment from the system, and if they decide to quit, the pledge will be returned
Q: Lambda planning to have own FS?
Lambda: Yes, FS and consensus network is separate. validators and marketplace are on the consensus network, while Files are in the File System.
Q: Is Lambda GDPR friendly?
Lambda: yes, we are
Q: Hi can u explain what’s the requirements of decentralized data . Do You think big companies will like to use lambda services .... or it’s for medium level enterprises as big companies will go for their in house system with their reliable nodes ...
Lambda: this is a good question, from I seeing it, ppl call out the protection of privacy, it is a trend and it takes steps. Lambda has two big groups of prospects users, one is DAPPs, another is the general industries such as big data, AI, IoT, Games, Financial, etc, as long as they need massive data storage demand, Lambda has the opportunity, data storage is expensive, especially when we are talking about big data, a lot of companies will value the cost in this area very much. currently we have lighthouse customer like DATA, BCV, VVshare, in the very near future, a game that is developed by Lambda team will also go live on Lambda network. from the BD perspective, Lambda will create a satellite network ( you can take it as channel network ) to bring us customers, we have a few reaching out to us already
Q: Why suddenly launched on Huobi
George Cao: I believe lambda team has its own consideration. Projects esp in bear market are facing pressures from different parties. Investors users exchanges. Not everything is under projects control. What we can do as an exchange is to stand by our partners and fully support them down the road
Lambda: thx for the answer
Q: I think you have made a great choice working with bitmax. Bitmax have really helped push new
coins and their site in general with good PR, marketing and reward/airdrop promotions
Lambda: strongly agree with you
Q: GDPR has taken over the EU and the UK so that is very important
Lambda: you are right, so we see to be GDPR friendly, which is one of our differentiator from FileCoin
Q: Being GDPR friendly , European market is a go for lambda
Lambda: I have this plan to develop European market by having a Raspberry program, it is still in planning.
George Cao: Let’s take a last question and move to lambda community:) And as usual we will pick 3 best questions. We will send out 1000 800 and 500 btmx. @lambda do you want to pick 3 questions ?
Q: Recent partnerships are interesting , can you tell us about coming q1 2019 both in terms of technical and marketing developments ?
Lambda: from Marketing side, we are focusing on Chinese miners community and potential European market ( like I said still in construction ) Korean market is another, and US market to go along our compliance path, Lambda has been strictly abide by the regulations. from technical side, the most important task we are targeting is the main network launch as planned
George Cao: Thanks everyone for your time. It’s a great ama as usual. We do have the best community. We will pick 3 winners and we will announce here after we finish ama in lambda community
Lambda: thank you all for your time to participate the AMA, I had a great time with you, see you friends and have a nice day.
George Cao: Hello everyone, Merry Christmas:)
Lambda: Hello Lambdos. Today we have George, the founder of BitMax to join us for the AMA. Let's give him a warm welcome to do a introduction of BitMax
George Cao: I am George Cao, founder of bitmax. I am happy to take the opportunity to talk to everyone here. Thanks to the lambda team. Let me start with a brief introduction about us.
Bitmax.io (btmx.io) is an exchange founded by a group of Wall Street veterans. Unlike most projects, we are kinda of old :) core team are in their 30ish - 50ish. The 10 founding member have combined of 150 years of Wall st experience. I have 10+ yrs of high frequency trading experience therefore I know the trading system well. That’s why our match engine can handle 400k tps per second vs huobi 1000 tps. We want to build an exchange that is transparent, robust, and efficient. While our system is the best in class, we offer the lowest trading fees. We believe the current high commission will not sustain and we will see consolidating of the exchanges with better depth and liquidity and lower commission. We are happy to partner with lambda, one of the best projects in 2018. We are committed to serve the project and the community. Alright, I am ready to take questions. Anything you can ask, as tough as you want :)
Q: Haha nice platform.
George Cao: Thanks. We are young as a platform but we are working to deliver the best
Q: I see reverse mining is new , I used many other mining exchange but all have normal mining . How does reverse mining works?
George Cao: Reverse mining is an innovative approach that helps the exchange and the project in several ways. 1) the concept of reverse mining is by providing liquidity to the exchange, you get a rebate and deduct out tokens from your account of the same valued. You can think of a otc sell our. 2) the benefit is it removes lots of sell pressure from the secondary market. And provides a strong support for the token price. 3) it introduces lots of liquidity to the exchange and benefits all traders
Q: The BTMX used in reverse mining are locked forever?
George Cao: Yes so the total number of tokens are always reducing your
Q: I've really been enjoying using the bitmax exchange so far especially with the low fees and data usage rewards. Does the exchange plan to bring in a shorting function in the near future?
George Cao: Yes we will have margin and futures trading
Q: It was supposed to December right ?
George Cao: We postponed our margin to Jan. The reason is we want to be more careful on protecting margin call protections.
Q: Margin trading and futures is important for BTMX price to drive up
George Cao: Totally agree
Q: Does BitMax have any activities on New Year's Day?
George: We do have multiple promotional events. Including but not limited to airdrops. Please visit our website and stay tuned
Q: I saw the whitepaper of bitmax, can you talk more about your dividends the formula is really hard for me ?
George Cao: Sure 80% of our commission goes to our fee pool. 1/180 of the total pool will be distributed daily. As long as you are a token holder, the current rate we pay is over 100% annually
Q: Oh I see, so the dividends will be smooth, great idea.
George Cao: Yes unlike other mining exchanges have huge volatility on div we smooth our curve
Q: I've also heard there is a mobile app in the works, is this likely to be released in the near future?
George Cao: Almost done. Beta version is in testing
Q: What about the north American, will it be available in the future?
George Cao: We more cleared our legal path for fiat trading in us. Q1 2019 we will launch in the us
Q: Great news I think this will bring a big volume.
George Cao: Yes agree. Our team is excited as well
Q: With promotional Airdrops that require a certain amount of the BTMX token to be held such as The lamb one that has taken place on the exchange this week. Are tokens that are locked for data usage or in cards taken into account when balance screenshots are taken?
George Cao: Yes we will take that into account
Q: When will be the private sale tokens be released ?
George Cao: As soon as we mined 90m we will start to release
Q: So let me get this right .. you give us FREE BTC and ltc and even Lambda EVERYDAY if we hold BTMX and agree to share our data
George Cao: Free usdt btc eth
Q: Wow. In a bear market, Free btc is the best thing ever
George Cao: We share revenue with our users, 90% is usdt. Not sure if you like it:)
Q: also consider adding coins like ADA and few from top 30. People need more coins
George Cao: We are adding stellar and zcash soon
Q: I heard they are insured Unless we give password to someone hehe
George Cao: Yes we are using custodian service
Q: George are our funds SAFU with you? Exchange insurance? I would say it is With the industry giants backing this exchange
George Cao: Sequoia matrix bitmain fbg dhvc are our equity investors
Q: What’s to stop People dumping BTMX token after free btc Or stop capital investor dumping on retailer
George Cao: They get it every day. Why would they dump? All equity investors can not sell on secondary market. They can only to reverse mining
Q: Will margin allow reverse mining instead of normal mining?
George Cao: Not initially
Q: People do irrational things when btc moves Or whales dumping, I heard there was a lock up token or something. To stop this
George Cao: We required lock our tokens to get rewards. You can request to unlock at anytime but it takes 24 hours to process
Q: Binance is developing DEX any plans for BitMax ?
George Cao: Not anytime soon we have a looong to do:)
Q: It's good you have dex in mind , with improved scalability in future maybe bitmax can build good dex
George Cao: Agree
Q: Retail investors are important , George knows it haha
George Cao: We care most of retails
Q: It would help if they also burned or locked tokens up
George Cao: Yes we permanently locked
Q: Seems you have everything thought of.. but how about moving to Malta?
George Cao: We priority US. Once us is clear pretty much everywhere is clear
Q: Doesn’t any exchange cover US right now?
George Cao: Coinbase but they have 0 international coverage and 0 client service
Q: What sort of systems are in place for abnormal/suspicious activity on the exchange?
George Cao: We prohibit self trading. For unusual trading behavior we ban the account and as for explain in the first violation. For continued violations we permanently ban the account
Q: can we get a glimpse of mobile application ?
George Cao: There is a beta version you can use but we are keep improving
Q: What are the precautions taken to prevent wash trading ?
George Cao: We have pre trade and post trade checksums. E.g we don’t just scan one account. We check or related account
Q: Will market orders and stop-loss orders be available in the future?
George Cao: Yes we are working on it
Q: what do you think of lambda project and community
George Cao: Lambda is definitely one of the best projects this year. We have been working with lambda for months and have lots of respect ion for the team. Community is also great very well organized. I didn’t talk much but I joined lambda tele group for a while. Great interaction
Q: So the trading starts at 8 pm ETC?
George Cao: It’s postponed. Please stay tuned for announcements
Lambda: We will make announcement giving out time and new date.
Q: when please? It's also more professional to be able to give dates and respect them
Lambda Cao: we are working hard and aiming the date of Dec. 29, pls stay tuned, thank you
George: Unfortunately bitmax and lambda don’t have 100% control of the date and time. Huobi is holding the ball
Lambda: The listing dates have been postponed and we don't want to give out a random date. I request you to have patience and wait for official announcement
Lambda: we will try everything to protect retails interest
Q: Can’t let houbi just arrive late to the party?
Lambda: in the long run we may need Huobi to help us better protect us all
George Cao: We trust lambda team can make the best decision for all investors
Q: Have you been busy with listing recently? Anything else?
George Cao: We have been working 24 hours a day including Chris eve :) Listing and app and margin and lots of new improvements
Q: Why would we need huobi with bitmax on our side.
George Cao: Trust me we are as upset. However as an exchange our mission is to serve projects and investors. Please join us in fully supporting any decision lambda team made. We have 100% confidence in lambda
Q: Are you familiar with the REKTbot and SYSTEM OVERLOAD problems at bitmex
George Cao: Yes but still bitmex is the best place to trade future compare with okex
Q: Slap that Hayes fool when bitmax start margin and futures..
George Cao: Haha i don’t want to declare war with them. Let’s be a bit patient :)
Q: Could bitmax handle That volume and not system overload
George Cao: We are 100% confident
George Cao: Alright i have to run for another meeting. It’s been a great ama. Thanks everyone. For any trading related questions please contact our client support. We promise to get in touch in 5 mins 7/24. Thank you all!
Lambda: thank you for participation, have a nice day!
submitted by BitMax_Support to BitMax [link] [comments]

MAJOR Kindom Updates (iOS launch, new mini-game, all prizes up to 60% off, web based sharing links, Kin1 withdrawals, new asian partnerships and a new logo!)

It's been a busy weekend here at Kindom but we're please to bring new features and changes to our users earning experience!

iOS Launch - Alpha:

First and foremost, we're pleased to announce the launch of our Alpha testing phase for iOS.
iOS users can go over to Kindom and click on the iOS button. They'll be taken to a web based version of the app.
On the iPhone you'll notice that most offers start out as locked. At the very top of your list, you'll have an offer that pays 20 Kin to download and open an app.
The first app you download is used to identify the IEMI (hardware ID number) with your account. Make sure to download the very first app in your list, and leave it running for at least 2 minutes before closing it and returning to the browser.
Do NOT set up your account on a phone that isn't yours or it will be paired with that device and you will be unable to earn.
Our web-based iOS solution is the largest offering of earn and spend opportunities for Kin on iOS, but, it is still in Alpha. Because of this work around solution, offers may have a higher fail rate than normal. If you are facing challenges please email our support at [email protected]
Also please note, unlike on Android devices where offers are limited by device, iOS offers are limited by both device AND iOS account AND game center account. This means each offer can only be done once per person.
For example, if you attempted to complete an offer for "Clash of Clans" that said you must be a new user, this offer would not complete if you have ever installed Clash of Clans on any iOS device that you have ever used.
We'll continue to make improvements to our iOS offering as we go forward, but for now, welcome to the party iOS users :)

New Mini-Game:

We've launched a new mini-game in the app called "Lucky Spin" - each day users get one free spin of the wheel and can win:
Users can also watch video ads to earn an additional free spin of the wheel. This can be done three times per day. After that, spinning the wheel will cost 30 Kin per spin.
Each day users can check back for another free spin.
If users are highly engaged with the "Lucky Spin Wheel" and using up their video plays, we'll continue to look at adding more mini-games in the future.

Prizes Reduced by up to 60% off:

We've heard a lot of feedback from our community about the amount of time it took to earn certain prizes, so we've reduced the costs of all our prizes by as much as 60%.
Here is a full list:
Not only have we reduced the prices, but, you'll notice that higher priced items are now giving you significantly better value for Kin. The longer you save your Kin, the more you get from it!

Kin1 Withdrawals:

Due to popular user demand we've added a new prize to redeem as well - Kin1 withdrawals.
Once you've earned at least 1500 Kin, you can now select "Kin1 Withdrawals" under the prize redemption page. This is great for users who can't wait to get their hands on their Kin.
We'll send users their ERC20 Kin within 3 business days of processing (although usually within 12 hours), and best of all we'll pay the Ethereum transfer fee so that it is entirely free for users.

New Weblinks for Referrals:

Some users had already stumbled across these during our beta, but our web links are now fully working.
Now instead of telling a friend your code, you can send them to a unique web link like http://kindom.me/J6M7D and when the user signs up they will automatically be added as your referral and you'll get 5% of whatever that user earns for life.e

New Logo:

We're aware that Kindom isn't the prettiest app on the block, we'd rather move fast and get you more opportunities to earn Kin. But, bit by bit we're going to continue to polish up Kindom and keep adding new coats of paint to make it look nicer.
To kick that off, we've added our new logo and app icon to the app.
You can already see our new icon on Kindom.me and the iOS web version of the app. The Google Play version of the app with the new icon has been submitted for review and once approved will begin to propagate to the app store over the next 1-3 days - so you can expect a nice new shiny icon on your device shortly!

Other Small Fixes:

Upcoming Changes:

submitted by AdamSC1 to Kindom [link] [comments]

Decred Journal – August 2018

Note: you can read this on GitHub (link), Medium (link) or old Reddit (link) to see all the links.

Development

dcrd: Version 1.3.0 RC1 (Release Candidate 1) is out! The main features of this release are significant performance improvements, including some that benefit SPV clients. Full release notes and downloads are on GitHub.
The default minimum transaction fee rate was reduced from 0.001 to 0.0001 DCkB. Do not try to send such small fee transactions just yet, until the majority of the network upgrades.
Release process was changed to use release branches and bump version on the master branch at the beginning of a release cycle. Discussed in this chat.
The codebase is ready for the new Go 1.11 version. Migration to vgo module system is complete and the 1.4.0 release will be built using modules. The list of versioned modules and a hierarchy diagram are available here.
The testnet was reset and bumped to version 3.
Comments are welcome for the proposal to implement smart fee estimation, which is important for Lightning Network.
@matheusd recorded a code review video for new Decred developers that explains how tickets are selected for voting.
dcrwallet: Version 1.3.0 RC1 features new SPV sync mode, new ticket buyer, new APIs for Decrediton and a host of bug fixes. On the dev side, dcrwallet also migrated to the new module system.
Decrediton: Version 1.3.0 RC1 adds the new SPV sync mode that syncs roughly 5x faster. The feature is off by default while it receives more testing from experienced users. Other notable changes include a design polish and experimental Politeia integration.
Politeia: Proposal editing is being developed and has a short demo. This will allow proposal owners to edit their proposal in response to community feedback before voting begins. The challenges associated with this feature relate to updating censorship tokens and maintaining a clear history of which version comments were made on. @fernandoabolafio produced this architecture diagram which may be of interest to developers.
@degeri joined to perform security testing of Politeia and found several issues.
dcrdata: mainnet explorer upgraded to v2.1 with several new features. For users: credit/debit tx filter on address page, showing miner fees on coinbase transaction page, estimate yearly ticket rewards on main page, cool new hamburger menu and keyboard navigation. For developers: new chain parameters page, experimental Insight API support, endpoints for coin supply and block rewards, testnet3 support. Lots of minor API changes and frontend tweaks, many bug fixes and robustness improvements.
The upcoming v3.0 entered beta and is deployed on beta.dcrdata.org. Check out the new charts page. Feedback and bug reports are appreciated. Finally, the development version v3.1.0-pre is on alpha.dcrdata.org.
Android: updated to be compatible with the latest SPV code and is syncing, several performance issues are worked on. Details were posted in chat. Alpha testing has started, to participate please join #dev and ask for the APK.
iOS: backend is mostly complete, as well as the front end. Support for devices with smaller screens was improved. What works now: creating and recovering wallets, listing of transactions, receiving DCR, displaying and scanning QR codes, browsing account information, SPV connection to peers, downloading headers. Some bugs need fixing before making testable builds.
Ticket splitting: v0.6.0 beta released with improved fee calculation and multiple bug fixes.
docs: introduced new Governance section that grouped some old articles as well as the new Politeia page.
@Richard-Red created a concept repository sandbox with policy documents, to illustrate the kind of policies that could be approved and amended by Politeia proposals.
decred.org: 8 contributors added and 4 removed, including 2 advisors (discussion here).
decredmarketcap.com is a brand new website that shows the most accurate DCR market data. Clean design, mobile friendly, no javascript required.
Dev activity stats for August: 239 active PRs, 219 commits, 25k added and 11k deleted lines spread across 8 repositories. Contributions came from 2-10 developers per repository. (chart)

Network

Hashrate: went from 54 to 76 PH/s, the low was 50 and the new all-time high is 100 PH/s. BeePool share rose to ~50% while F2Pool shrank to 30%, followed by coinmine.pl at 5% and Luxor at 3%.
Staking: 30-day average ticket price is 95.6 DCR (+3.0) as of Sep 3. During the month, ticket price fluctuated between a low of 92.2 and high of 100.5 DCR. Locked DCR represented between 3.8 and 3.9 million or 46.3-46.9% of the supply.
Nodes: there are 217 public listening and 281 normal nodes per dcred.eu. Version distribution: 2% at v1.4.0(pre) (dev builds), 5% on v1.3.0 (RC1), 62% on v1.2.0 (-5%), 22% on v1.1.2 (-2%), 6% on v1.1.0 (-1%). Almost 69% of nodes are v.1.2.0 and higher and support client filters. Data snapshot of Aug 31.

ASICs

Obelisk posted 3 email updates in August. DCR1 units are reportedly shipping with 1 TH/s hashrate and will be upgraded with firmware to 1.5 TH/s. Batch 1 customers will receive compensation for missed shipment dates, but only after Batch 5 ships. Batch 2-5 customers will be receiving the updated slim design.
Innosilicon announced the new D9+ DecredMaster: 2.8 TH/s at 1,230 W priced $1,499. Specified shipping date was Aug 10-15.
FFMiner DS19 claims 3.1 TH/s for Blake256R14 at 680 W and simultaneously 1.55 TH/s for Blake2B at 410 W, the price is $1,299. Shipping Aug 20-25.
Another newly noticed miner offer is this unit that does 46 TH/s at 2,150 W at the price of $4,720. It is shipping Nov 2018 and the stats look very close to Pangolin Whatsminer DCR (which has now a page on asicminervalue).

Integrations

www.d1pool.com joined the list of stakepools for a total of 16.
Australian CoinTree added DCR trading. The platform supports fiat, there are some limitations during the upgrade to a new system but also no fees in the "Early access mode". On a related note, CoinTree is working on a feature to pay household bills with cryptocurrencies it supports.
Three new OTC desks were added to exchanges page at decred.org.
Two mobile wallets integrated Decred:
Reminder: do your best to understand the security and privacy model before using any wallet software. Points to consider: who controls the seed, does the wallet talk to the nodes directly or via middlemen, is it open source or not?

Adoption

Merchants:

Marketing

Targeted advertising report for August was posted by @timhebel. Facebook appeal is pending, some Google and Twitter campaigns were paused and some updated. Read more here.
Contribution to the @decredproject Twitter account has evolved over the past few months. A #twitter_ops channel is being used on Matrix to collaboratively draft and execute project account tweets (including retweets). Anyone with an interest in contributing to the Twitter account can ask for an invitation to the channel and can start contributing content and ideas there for evaluation by the Twitter group. As a result, no minority or unilateral veto over tweets is possible. (from GitHub)

Events

Attended:
For those willing to help with the events:
BAB: Hey all, we are gearing up for conference season. I have a list of places we hope to attend but need to know who besides @joshuam and @Haon are willing to do public speaking, willing to work booths, or help out at them? You will need to be well versed on not just what is Decred, but the history of Decred etc... DM me if you are interested. (#event_planning)
The Decred project is looking for ambassadors. If you are looking for a fun cryptocurrency to get involved in send me a DM or come talk to me on Decred slack. (@marco_peereboom, longer version here)

Media

Decred Assembly episode 21 is available. @jy-p and lead dcrwallet developer @jrick discussed SPV from Satoshi's whitepaper, how it can be improved upon and what's coming in Decred.
Decred Assembly episodes 1-21 are available in audio only format here.
New instructional articles on stakey.club: Decrediton setup, Deleting the wallet, Installing Go, Installing dcrd, dcrd as a Linux service. Available in both English and Portuguese.
Decred scored #32 in the August issue of Chinese CCID ratings. The evaluation model was explained in this interview.
Satis Group rated Decred highly in their cryptoasset valuation research report (PDF). This was featured by several large media outlets, but some did not link to or omitted Decred entirely, citing low market cap.
Featured articles:
Articles:
Videos:

Community Discussions

Community stats:
Comm systems news:
After another debate about chat systems more people began testing and using Matrix, leading to some gardening on that platform:
Highlights:
Reddit: substantive discussion about Decred cons; ecosystem fund; a thread about voter engagement, Politeia UX and trolling; idea of a social media system for Decred by @michae2xl; how profitable is the Obelisk DCR1.
Chats: cross-chain trading via LN; plans for contractor management system, lower-level decision making and contractor privacy vs transparency for stakeholders; measuring dev activity; what if the network stalls, multiple implementations of Decred for more resilience, long term vision behind those extensive tests and accurate comments in the codebase; ideas for process for policy documents, hosting them in Pi and approving with ticket voting; about SPV wallet disk size, how compact filters work; odds of a wallet fetching a wrong block in SPV; new module system in Go; security of allowing Android app backups; why PoW algo change proposal must be specified in great detail; thoughts about NIPoPoWs and SPV; prerequisites for shipping SPV by default (continued); Decred vs Dash treasury and marketing expenses, spending other people's money; why Decred should not invade a country, DAO and nation states, entangling with nation state is poor resource allocation; how winning tickets are determined and attack vectors; Politeia proposal moderation, contractor clearance, the scale of proposals and decision delegation, initial Politeia vote to approve Politeia itself; chat systems, Matrix/Slack/Discord/RocketChat/Keybase (continued); overview of Korean exchanges; no breaking changes in vgo; why project fund burn rate must keep low; asymptotic behavior of Decred and other ccs, tail emission; count of full nodes and incentives to run them; Politeia proposal translations and multilingual environment.
An unusual event was the chat about double negatives and other oddities in languages in #trading.

Markets

DCR started the month at USD 56 / BTC 0.0073 and had a two week decline. On Aug 14 the whole market took a huge drop and briefly went below USD 200 billion. Bitcoin went below USD 6,000 and top 100 cryptos lost 5-30%. The lowest point coincided with Bitcoin dominance peak at 54.5%. On that day Decred dived -17% and reached the bottom of USD 32 / BTC 0.00537. Since then it went sideways in the USD 35-45 / BTC 0.0054-0.0064 range. Around Aug 24, Huobi showed DCR trading volume above USD 5M and this coincided with a minor recovery.
@ImacallyouJawdy posted some creative analysis based on ticket data.

Relevant External

StopAndDecrypt published an extensive article "ASIC Resistance is Nothing but a Blockchain Buzzword" that is much in line with Decred's stance on ASICs.
The ongoing debates about the possible Sia fork yet again demonstrate the importance of a robust dispute resolution mechanism. Also, we are lucky to have the treasury.
Mark B Lundeberg, who found a vulnerability in atomicswap earlier, published a concept of more private peer-to-peer atomic swaps. (missed in July issue)
Medium took a cautious stance on cryptocurrencies and triggered at least one project to migrate to Ghost (that same project previously migrated away from Slack).
Regulation: Vietnam bans mining equipment imports, China halts crypto events and tightens control of crypto chat groups.
Reddit was hacked by intercepting 2FA codes sent via SMS. The announcement explains the impact. Yet another data breach suggests to think twice before sharing any data with any company and shift to more secure authentication systems.
Intel and x86 dumpsterfire keeps burning brighter. Seek more secure hardware and operating systems for your coins.
Finally, unrelated to Decred but good for a laugh: yetanotherico.com.

About This Issue

This is the 5th issue of Decred Journal. It is mirrored on GitHub, Medium and Reddit. Past issues are available here.
Most information from third parties is relayed directly from source after a minimal sanity check. The authors of Decred Journal have no ability to verify all claims. Please beware of scams and do your own research.
Feedback is appreciated: please comment on Reddit, GitHub or #writers_room on Matrix or Slack.
Contributions are welcome too. Some areas are collecting content, pre-release review or translations to other languages. Check out @Richard-Red's guide how to contribute to Decred using GitHub without writing code.
Credits (Slack names, alphabetical order): bee, Haon, jazzah, Richard-Red and thedecreddigest.
submitted by jet_user to decred [link] [comments]

Useful Beginner's Guide to Syscoin

What is Syscoin?

Some have described Syscoin (SYS) as the Shopify, Amazon and Ebay of the blockchain world. Syscoin is a revolutionary cryptocurrency that offers near zero cost financial transactions, incredible speed and provides businesses the infrastructure to trade goods, assets, digital certificates and data securely. Syscoin isn’t just about money and trading, it has the ability to attract various business types thanks to its native set of features geared towards business on the blockchain. From eBay traders and High Street shops to Medical applications, Insurance and Gaming, Syscoin’s decentralized network benefits everyone!   Syscoin is developed by Blockchain Foundry (BF). BF provides blockchain technology based services, projects and products for a wide variety of use cases with the stated aim of disrupting markets by leveraging the potential of blockchain technology. Syscoin is mainly known to be the first cryptocurrency to offer a fully decentralized marketplace based on blockchain. What is lesser known is that this is only a part of what Syscoin offers.   With the introduction of Masternodes in February or March 2018 SYS will be transformed from just a ’marketplace coin’ to a completely ‘utilitarian coin’. The Masternode infrastructure allows the addition of decentralized databases and file storage, increased transaction speed to surpass POS/Visa/Mastercard capabilities, true Turing complete smart contract capabilities for unlimited business logic, sidechains, application layers and an identity layer. This will all be accessible through an API, rather than a new language, enabling nearly any developer to create any blockchain application they can conceive. This will usher in the next generation of blockchain applications - made for new or existing businesses - by conveniently offering everything available from the blockchain space today. In simple terms think Dash + Ethereum/Lisk + Monero + Nano + Storj + Particl capabilities all in one coin!    

SYS Origin

The blockchain as conceptualized by Satoshi Nakamoto back in 2008 envisioned a peer-to-peer electronic cash network that would prevent double-spending. A year later, the blockchain became an integral part of bitcoin, serving as the latter's public ledger of transactions. Although Nakamoto's reference client mentioned a decentralized marketplace service, the subsequent implementation did not incorporate this due to a lack of resources.   Syscoin was initially described in a 2014 draft whitepaper that envisioned Decentralized Marketplace Creation, Decentralized Smart Contracts and Documents, Decentralized Certificate Issuance and Transfer, and Decentralized Data Storage and Retrieval, as among the services that it would offer upon its release.   Syscoin aimed to bring Nakamoto's vision of a decentralized marketplace back into the blockchain, among the other commercial-grade services it aims to deliver to clients. Other services that Syscoin plans to provide include secure data storage and transfer, and unique user aliases that link their owners to the services controlled by the alias.   The early Syscoin wallet was superseded by the release of Blockmarket Desktop 1.0 on September 12, 2017, marking the culmination of Syscoin's vision of a fully decentralized marketplace with a desktop GUI based on the blockchain.   The planned release of Blockmarket Web, a fully web-based version, and Blockmarket Professional in 2018 takes that vision one step further, as more advanced seller stores become a reality.    

The Team

The Team that NEVER quits! Before the launch of Syscoin (Q3 2014), there was a presale ICO by Moolah (as a partner), which turned out to be detrimental for Syscoin. The project raised around 1,000BTC for development but the Syscoin Team only managed to access 250BTC which were used for price support. Moolah (Ryan Kennedy) absconded with the bulk of the ICO funds and the Syscoin team were left with ~30million Syscoin at a price around 400 satoshi. Even after this tragic event, the devs didn’t quit and continued to work on the project without stopping. The case against Moolah is still on-going. See the article from CoinDesk here: http://www.coindesk.com/uk-court-syscoin-injunction-moolah-750-btc/.   What is this detail telling us about the dev team? While some crypto projects are just scams and bring little to no innovation, they’ve proven that they are in it for the long term - ably demonstrated by the fact that they continued to work despite their funds being stolen. And now that hard work is beginning to pay off with the entire team going full-time for the first time in January 2018 and new developers being hired following VC funding for BF.
View Team Page.    

Blockchain Foundry Products

BF Products    

What is Blockmarket Desktop?

Building on the World's First Decentralized Marketplace, Blockmarket is the newest generation of Syscoin's Desktop wallet with a complete, state-of-the-art marketplace built-in where you can securely and reliably buy and sell any items you wish. Entire stores can be created directly through the marketplace where you can sell your own products or re-sell others’ products for commission. Use of blockchain technology eliminates middlemen, credit card fees, maintenance fees, downtime and political interference. Persons are literally able to buy or sell anything to anyone, anytime, anywhere on Earth! Blockmarket Desktop was launched on September 12, 2017. Download Blockmarket Desktop 1.2    

Key Blockmarket Features

- Decentralized Marketplace

The marketplace platform provides a decentralized and high redundant channel for selling goods and services. Features include: • Price Pegging to currencies such as USD, EUR, GBP, CAD, CNY and BTC • Bitcoin and Zcash as payment options • Arbitrated Escrow • Encrypted Messaging • KYC/AML Compliance • Images • Unlimited Inventory Items  

- Name Aliases

Wallet addresses for cryptocurrencies generally consist of a unique string of between 27-34 alphanumeric characters. Such an address isn’t easy to memorize. Although the addresses can be added to an address book within the wallet, Syscoin has taken the user's convenience one step further, allowing you to create a unique Alias for your wallet address, such as a name, title, or characters specific to a username. These can be used to send SYS from home, to a mobile wallet, to work, to friends, to common suppliers or to repeat customers easily, without requiring any memorizing, writing it down, copy & pasting or emailing yourself the address.  

- Digital Certificates

Using the cryptography of the blockchain persons can issue, authorize, and exchange digital certificates of any kind. With Syscoin anyone can issue provably-unique certificates with text or ASCII content to one or multiple parties on the Syscoin blockchain. These certificates can be authenticated by anyone via Syscoin’s cryptographic proof of work. This allows for the creation and free exchange of any kind of digital asset such as ownership certificates, warranties, receipts, tickets, certifications, diplomas, software licenses and more.  

- Integrated Exchanges

Integrated Crypto exchanges - Flypme and Changelly will facilitate exchanging 30+ cryptos for SYS, directly within the Blockmarket wallet.  

- Security Audit Verified

Blockmarket was successfully and independently security audited by Digital Boundary Group and was deemed low risk. View Audit Results.    

Blockmarket Desktop – Quickstart Tutorials (16 short vids)

BM Desktop – Quickstart Tutorials    

Blockmarket Web – (The Key to Mass Adoption)

BM web will bring SYS’s existing decentralized marketplace and all its features into a web-based version, enabling ease of use with a simple email and password login (grandma friendly) without any need for downloading a wallet or waiting for sync. Blockmarket web will be launched in Q1 2018.   This launch will be accompanied by a marketing campaign roll-out that seeks to build brand recognition with audiences within the existing crypto ecosystem and more significantly with the broader, global, non-crypto audience. For this reason Ballistic Arts, a full-service marketing agency was retained by BF. BF Engages Marketing Agency    

Primary Target Market + Value Potential

The primary target market for BF’s Syscoin/Blockmarket web flagship is the retail e-commerce industry. This sets up their decentralized marketplace to rival such commercial giants as Amazon ($648B market cap), Alibaba ($453B market cap) and eBay ($43B market cap). According to eMarketer’s Worldwide Retail and Ecommerce Sales report, global retail e-commerce sales for 2017 were $2.3 Trillion. This is expected to reach an estimated $4 Trillion by 2020 reflecting the rapid growth within this sector.   To perform a very simple assessment of the Syscoin/Blockmarket web’s potential let’s assume that a 1% portion of the forecasted $4 trillion market is captured, which represents $40 billion in revenue. Assuming a sales to market cap ratio of 1:1 for simplicity, the circulating supply of 531 million SYS, with a $40 billion market cap yields a price of roughly $75 per coin. However, with masternodes that limit the circulating supply and token utility that extends beyond retail e-commerce, the SYS price could likely reach much higher. Please note that these are just very simple assumptions and projections for this exercise, however the real world driven potential that this project has is clearly evident.    

Key Syscoin Developments

- Z-DAG: Zero Confirmation Transactions with Double Spend Protection (WORLD’S FIRST)

View Developer’s Twitter post View Syscoin’s Twitter post  

- Masternodes

Ability for world-class transactions-per-second performance to scale-out with added nodes (theoretically 100k TPS per 1000 Masternodes, 300k TPS/3k masternodes, etc). In later releases, masternodes will also process smart contracts and facilitate sharded+encrypted offchain file-storage (with onchain anchors), among other touted functionality. They should also result in steadying the price movements - less volatility as holding will be incentivized.  

- Masternode Rewards + Min. Hardware Specs

Masternode Rewards + Min. Hardware Specs Masternode ROI Calculator  

- Smart Contracts

Scalable Ethereum Virtual Machine: Allows Turin complete smart contracts to be executed following the ethereum protocol at a much faster speed and at a fraction of the ethereum gas price.  

- Assets & Token Issuance

With its token issuance service, Syscoin allows anyone to create a custom asset token which can then be sent directly to anyone else on the network. This facilitates a variety of use cases including ICO token issuance, supply chain management, reward points, and loyalty programs.  

- Anonymous Transactions

Anonymous transactions: via mixing/shuffling at user-specified denomination. Afterwards, additional tech will be added in the near future which will further compound the degree of anonymity provided -Add ValueShuffle running on top of the masternode layer and you have the world's most advanced privacy tech in any coin. This brings true money fungibility to Syscoin and the missing link for true economic sovereignty. View Developer’s Twitter post.  

- Instant Send

Transactions can be sent and received instantly. This represents a similar sending capability as Dash, but is a step beyond- A type of backend node locking will allow an instantly received sum to be sent immediately, without delay, and without network risk of double-spend.    

Why Invest in Syscoin?

 

Merchants

Merchant Pilot Program    

Partnerships

Development Updates

White Paper

White Paper.pdf Note: It is anticipated that the whitepaper will be updated by the team in the near future due to recent developments    

Roadmap

Roadmap 2017-2018.png    

Blockchain Application Development Architecture

Blockchain Application Development Architecture.png    

Feature List 2017 & 2018

Feature List 2017 & 2018.jpg    

Where to Buy

BittrexPoloniexUpbitTux ExchangeLivecoinYobitAEXBittyliciousChangellyFlyp.me    

Wallets

• Block Market Wallet 1.2 – Windows and Mac. Download from https://syscoin.org/ • QT Wallet for Developers: Download from https://github.com/syscoin/syscoin2/releases/tag/2.1.6Coinomi – Syscoin MultiCoin Wallet (only supports send/receive)HolyTransaction – Syscoin Multicoin Web Wallet (desktop & android)    

Need Help or Want to Contribute?

If you need help for an important wallet issue or if you want to know how you can contribute in promoting Syscoin Join the Slack channel where the SYS team and community members are active, helpful and responsive.    

Credit To

Other Sources

https://syscoin.org/ https://twitter.com/syscoin https://www.blockchainfoundry.co/ https://en.wikipedia.org/wiki/Syscoin    

Last Updated

This post was last updated on Feb 10 2018.    

Disclaimer

This post was created particularly to aid those who are new to Syscoin. Please note that the content provided within this post is for information purposes only and is not to be construed as investment advice.
submitted by idbrews to SysCoin [link] [comments]

How to follow, study and keep up to date with the Ethereum project. This info or link might help with newbies or people you would like to send info to regarding what ethereum is.

Iv been asked to put together some info / links on the Ethereum Project by a few people lately that iv met or talked to and since its Sunday and i got a half day from work here it is:
I emailed them and then pasted it here so sorry if its a bit clumped together. Cant get the grasp of how reddit breaks up sentances 8-()
https://www.ethereum.org/ Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference.
These apps run on a custom built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property. This enables developers to create markets, store registries of debts or promises, move funds in accordance with instructions given long in the past (like a will or a futures contract) and many other things that have not been invented yet, all without a middle man or counterparty risk.
The project was bootstraped via an ether pre-sale during August 2014 by fans all around the world. It is developed by the Ethereum Foundation, a Swiss nonprofit, with contributions from great minds across the globe.
Ethereum Blog: https://blog.ethereum.org/
Note: This is not investment advise, This email is just to show you what Ethereum is, what these 1000's of computer scientists, developers, programmers and hackers are building. A whole new internet run from millions of peoples computers all over the world to create the "Ethereum Virtual Machine" or world computer that 7 Billion people can log onto at the same time. It is censorship resistant, encrypted and the Ethereum Blockchain can not be hacked. This is going to change the world as we know it.
There is a built in currency called "Ether" or "ETH" and can be purchased from any of many exchanges listed below.
Note 2: ETC or Ethereum Classic is a smaller blockchain project that also uses the EVM (Ethereum Virtual Machine) and id advise to stay away from that project, it has not got the 1000's of developers building it like ETH does, it apparently has one or 2 developers that went their own way, The EVM can also run private and consortium blockchains that alot of big and small companies are building on for their inhouse private operations. Like a Intranet (intranet is a private network that is contained within an enterprise)
Its very hard to understand at first what exactly blockchain is so here are some videos that i think explains it well:
BBC 2015 https://www.youtube.com/watch?v=0X33lgMbvdI
Ethereum: the World Computer https://www.youtube.com/watch?v=j23HnORQXvs
An Ethereum Interview Series // Teaser from the recent Devcon2 https://www.youtube.com/watch?v=gHseIdJ0SJU
What is Ethereum? https://www.youtube.com/watch?v=Clw-qf1sUZg&t=123s
ETHEREUM explained in 100 seconds. https://www.youtube.com/watch?v=eRDKP8nCVtU
Vitalik Buterin explains Ethereum https://www.youtube.com/watch?v=TDGq4aeevgY
DEVCON1: Understanding the Ethereum Blockchain Protocol - Vitalik Buterin
https://www.youtube.com/watch?v=gjwr-7PgpN8
2016 China Devcon2: Ethereum in 25 Minutes https://www.youtube.com/watch?v=66SaEDzlmP4&t=1s
Joseph Lubin - The Basics of Blockchain and Etherum https://www.youtube.com/watch?v=0ilYnuP1qd4&t=50s
DEVCON1: Ethereum for Dummies - Dr. Gavin Wood https://www.youtube.com/watch?v=U_LK0t_qaPo
Blockchain is Eating Wall Street | Alex Tapscott | https://www.youtube.com/watch?v=WnEYakUxsHU
How the mysterious dark net is going mainstream https://www.youtube.com/watch?v=pzN4WGPC4kc&t=378s
The four pillars of a decentralized society | Johann Gevers https://www.youtube.com/watch?v=8oeiOeDq_Nc
Gavin Wood: Why is Blockchain a game changer? https://www.youtube.com/watch?v=ygZWhQXZtl4&t=188s
Brock Pierce: Blockchain technology https://www.youtube.com/watch?v=3lMvo0PPxjQ&t=619s
2014 Keiser Report: New Crypto Phenomenon Ethereum https://www.youtube.com/watch?v=hdAnyC45ZbU (starts at about 12 mins)
Devcon2 Videos from 2016 https://www.youtube.com/channel/UCNOfzGXD_C9YMYmnefmPH0g/videos
Devcon1 and other Ethereum Videos from 2014 & 15 https://www.youtube.com/useethereumproject/videos
Soundcloud: (these are great with Arthur speaking directly to Developers that are building on Ethereum)
The Ether Review - Arthur Falls https://soundcloud.com/arthurfalls
ConsenSys Media - Arthur Falls https://soundcloud.com/consensys
Evan Van Ness sends out "The week in Ethereum" latest here: http://www.weekinethereum.com/
Id highly recommend subscribing to his news letter here http://evanvanness.us14.list-manage1.com/subscribe?u=4c6ec57a148e890524b6ac91f&id=7061f7fa65
Ethereum Rules and Getting Started Guide https://www.reddit.com/ethereum/comments/4ws9um/rethereum_rules_and_getting_started_guide/
Reddit:
https://www.reddit.com/ethereum/new/ News, development and everything apart from price. Most news about Ethereum can be found here daily
https://www.reddit.com/ethtradenew/ price and trading discussions
Ethereum News commentators i watch:
Crypt0 https://www.youtube.com/useobham001/videos
Mr Yukon C https://www.youtube.com/channel/UClfAgeZvfwC9hcJrFisW8cQ/videos
Ethereum people to follow on twitter to get linked and fed important blockchain info:
@SingularDTV @golemproject @ethcoreproject @MrYukonC @EthereumCanada @ConsenSysLLC @R3CEV @DigixGlobal @AugurProject @NickSzabo4 @ethereumJoseph @Gatecoin @aantonop @BobSummerwill @GeorgeAHallam @el33th4xor @awrelllRo @mingchan88 @peter_szilagyi @koeppelmann @LefterisJP @stephantual @wmougayar @jeffehh @TaylorGerring @avsa (there is plenty more i just don't have them on my twitter yet)
To run a node from your computer you can download the "Ethereum Wallet" here: https://github.com/ethereum/mist/releases
Instructions:
How to Install the Ethereum Wallet https://www.youtube.com/watch?v=Y3JfLgjqNU4&t=7s
How to Back up and load the Ethereum Wallet https://www.youtube.com/watch?v=CZ8ZCtbxD0M&t=2s
How To Watch Tokens and Other Smart Contracts with the Ethereum Wallet https://www.youtube.com/watch?v=V_KJ84jkPi8
Ethereum and other blockchain project prices http://coinmarketcap.com/
There are many exchanges that trade Ether around the world http://coinmarketcap.com/currencies/ethereum/#markets
Some ones i have used are: www.kraken.com Accepts Euro, Dollar, GBP etc.. by SEPA or international bank transfer and you can buy Ether
www.poloniex.com (does not accept fiat but it is the largest volume for trading crypto pairs, I have used www.bitstamp.net in the UK to buy Bitcoin and then send them to Poloniex to swap for Ether )
www.yunbi.com A very good exchange based in China and have listed a few ethereum tokens, you need to swap through CNY (Chinese Yuan) but its easy and very good support.
www.bittrex.com No Fiat but also lists some Ethereum Based tokens
www.gatecoin.com Based in Hong Kong and you can send Euro and Dollar, Also lists alot of Ethereum Based tokens, Volume is very low at the moment as they recover from a hack but they offer very good support.
The safest place to store you Ether is on a hardware wallet like this one https://www.ledgerwallet.com/products/12-ledger-nano-s.
You can also store all you Ethereum based tokens or shares on this device https://ledger.groovehq.com/knowledge_base/topics/how-to-secure-your-eth-tokens-augur-rep-dot-dot-dot-with-your-nano-s
The way "I view" the incentive to keep Ether (ETH) is the following and the reason i think it will go up in value is because of "The velocity of Ether moving through the Ethereum economy (Platform)". So the more Ether is used the higher the price will get and in a number of years will see us move down to the lower units finney, szabo, shannon, babbage, lovelace, and wei as the digital economy grows. Ether has 18 decimal places 1,000,000,000,000,000,000. Because after POS Ether total supply will be set at approx. 100 Million with a small inflation of 1 to 3% that pays the computers running it.
So ether will be more like the reserve currency and trade currency between all the other currencies, contracts and Dapps interacting in the Ethereum digital economy. But its main function is like a gas to run the network. Every transaction you have to pay a tiny amount to the network that goes to all the computers running the network. less than 1 penny.
Ethereum Based Tokens / Synthetic assets (What is a Synthetic Asset https://www.youtube.com/watch?v=St9DBpNBP1Q)
On coinmarketcap.com you can see there are 642 other Blockchain projects listed and some like Bitcoin are 8 years old. 90%+ of these projects are junk projects developed by 1 or 2 people and are just copies of Bitcoin. Some have added extra functions over Bitcoin and Bitcoin is a very secure but slow payment DAPP but cant do much else besides payments.
Ethereum was built from scratch and is built like lets say "android or a smart phone" so that DAPPS can be plugged in as you should have heard from the above videos. So there are now a good few DAPPS that are nearly completion that were built on the ethereum blockchain by different groups of developers. There are alot more but 328 are listed here: http://dapps.ethercasts.com/. So there is not just 643 blockchain projects there are over 1000 but all the ones on Ethereum can communicate or interoperate with eachother. Some notable ones you can see listed on coinmarketcap are Augur, Iconomi, DigixDAO, Golem, SingularDTV etc..... All these because they are built on the Ethereum blockchain can interact with eachother but the other 600+ blockchains can not. This is what makes Ethereum different from the rest.
As DigixDAO is the one i have studied most ill give an example of a DAPP thats built on Ethereum and why a DAPP would be usefull
In industry most work is automated, the operators no longer have to take process samples manually and send to the lab or go and top up a tank manually with certain additives, This is all done by automation, When the process is at a certain temperate, level, viscosity etc.. the instrumentation measures this and adds or pumps the necessary ingredients / additives to make sure the final product is made correctly. This automation has saved alot of costs and manual labour in industry.
What Digix / blockchain is doing is automating alot of the back office paperwork, accounting, agreements etc... Example: company that owns a gold vault (Like Silver Bullion) have employees handling paperwork / sales etc and when people sell and buy gold it changes hands or changes registered ownership and the employees have to manually do this paperwork. What Digix provides is automated software that does all this automatically in 14 seconds. For billing / storage if you have gold stored in the vault you pay about 1% a year so you know if you have $10,000 worth of gold then you need to pay about $100 a year which you pay by topping up your gold (DGX) by $100 and its taken out automatically each day by a tiny tiny amount.
The good thing is that if you have Gold Tokens as your savings instead of Fiat and you need to borrow $ short term you can borrow $ by agreeing to lock your Gold Tokens in a smart contract in the software and pay interest for that loan. If you pay back the loan over 3 months then the gold tokens are automatically returned to your address and you havent missed a gold rally or a Fiat devaluation. If you dont pay it back then the person who lent you the $ gets all your gold (or the % not paid) Again this process is automated in a smart contract and the bullion employee didnt have to settle all the paperwork, transfers of gold or get contracts and agreements signed by both parties, This is done by digital signature / agreements and saves the Vault operator alot of costs.
The vault operator can also earn a bit of the loans interest and $ can be provided by them or even 3rd parties. Using the Ethereum blockchain this can be done for lots of different industries from banking, stocks, insurance, gambling, pritty much everywhere
Other non Ethereum related Youtube people i follow, mainly Economics, Geo-politics, Gold / Silver etc.... These people give some very good info that you wont get from the big media companies or state media. Maybe this will help you understand why you should not keep 100% of your wealth in $ and maybe a few % is worth keeping in Crypto or ever Gold Physical or easier DGX (DigixDAO) or DGD.
Greg Hunter https://www.youtube.com/useusawatchdog/videos
Gerald Celente Trends in the News https://www.youtube.com/usegcelente/videos
Gregory Mannarino https://www.youtube.com/useGregVegas5909/videos
Realist News Jsnip4 https://www.youtube.com/usejsnip4/videos
SGT Report https://www.youtube.com/useSGTbull07/videos
Stefan molyneux https://www.youtube.com/usestefbot/videos
X22 Report https://www.youtube.com/useX22Report/videos
Clif High https://www.youtube.com/results?search_query=clif+high
Noem Chomsky https://www.youtube.com/results?search_query=noem+chomsky
Health
Dr John Bergman https://www.youtube.com/usejohnbchiro/videos
Nutrition Facts Org https://www.youtube.com/useNutritionFactsOrg/videos
Any questions just ask
submitted by TonyMcCarp to ethereum [link] [comments]

IMPORANT EVENT’S IN JAUNARY 2018

01 January 2018 SunContract (SNC) - "Real live P2P energy trading (limited)" 01 January 2018 RaiBlocks (XRB) - New exchange coming where you will be able to buy and sell XRB. 01 January 2018 Loopring (LRC) - "You will be able to see our 2018 roadmap”. 01 January 2018 Electra (ECA) - Launch of ECA on Next Exchange, on January 1st 2018.
02 January 2018 Electroneum (ETN) - "Mobile miner section of the app in the New Year"
03 January 2018 Qtum (QTUM) - Every QTUM token holder will get 1 UBTC per 100 Qtum Token
05 January 2018 Cardano (ADA) - The Roadmap will be updated.
By 07 January 2018 TRON (TRX) - "Game based on Tron network release" By 07 January 2018 XP (XP) - "Roadmap will be released in first week of 2018."
By 08 January 2018 NEM (XEM) - 4-week competition that aims to tackle real world problems unleashing all the potential of NEM Smart Asset blockchain. By 08 January 2018 Eidoo (EDO) - "Eidoo to destroy 500,000 EDO tokens" 08 January 2018 Edgeless (EDG) - "Registeration for Edgeless starts on January 8th."
09 January 2018 Power Ledger (POWR) - Power Ledger is one of 10 semi-finalists in the 2018 Extreme Tech Challenge in Las Vegas. Finalists will be announced at 9 pm PST. 09 January 2018 Triggers (TRIG) - "I will be announcing the new exchanges listing $trig" 09 January 2018 Modum (MOD) - "To kick off the new year we will be attending the Consumer Electronics Show in Las Vegas."
10 January 2018 Octanox (OTX) - "$OTX will be announcing the listing on new exchanges on 10 Jan." 10 January 2018 Qvolta (QVT) - Adding Qvolta application to Apple Store and Google Play
11 January 2018 LISTING ON DMM(new site for cryptocurrency trading) – Ripple(XRP), Ethereum(ETH), Ethereum Classic(ETC), Litecoin(LTC), NEM, Bitcoin cash(BCH), Bitcoin(BTC),
14 January 2018 Bitcoin Cash (BCH) - "Bitcoin Cash plans to update its address format on January 14, 2018."
By 15 January 2018 Substratum (SUB) - The new video from Substratum shows that they pushed the beta release to early January. By 15 January 2018 Wagerr (WGR) - Team target for mainnet and testnet. 15 January 2018 LIFE (LIFE) - LIFEtoken will be delisted from Coinexchange.io By 15 January 2018 LockChain (LOC) - Global Booking Launch with 10000+ properties.
17 January 2018 ClearPoll (POLL) - Launch Date Confirmed: Clearify will launch in full on January 17, 2018. App, website and browser plugin.
18 January 2018 Edgeless (EDG) - "New Edgeless version launch is happening in January 18th."
19 January 2018 Ethereum (ETH) - Fork height: 4936270 - Block time: Jan 19th 2018 GMT 19:00-21:00
20 January 2018 Solaris (XLR) - ZeroCoin transactions will be activated on 20th Jan 2018
23 January 2018 Power Ledger (POWR) - Dr. Jemma Green will be speaking at the World Economic Forum on behalf of GBBC. 23 January 2018 Decision Token (HST) - The Decision Token will be used by a UN-affiliated Intergovernmental Organisation at the upcoming World Economic Forum.
24 January 2018 ICON (ICX) - "ICON Mainnet will officially launch on January 24, 2018, one week before 2018 ICON Annual Summit"
25 January 2018 Bitcoin (BTC) - "The conference will involve IT developers, entrepreneurs, investors as well as specialized software and hardware manufacturers."
26 January 2018 Ripple (XRP) - Blockchain Technology Evolution in US and China. Speaker: Brad Garlinghouse
By 30 January 2018 AdEx (ADX) - Beta Release
By 31 January 2018 HempCoin (THC) - "HardFork coming January, 2018! The new $THC will be more advanced and comes with many technological upgrades!" By 31 January 2018 Siacoin (SC) - "This fix is a hardfork that activates at block 139,000" By 31 January 2018 Syscoin (SYS) - Blockmarket Web 1.0 & Desktop 1.x By 31 January 2018 EOS (EOS) - "Multithreaded Implementation new shared memory database implementation parallel transaction scheduler with multithreaded [...]" By 31 January 2018 ASH (QASH) - QASH will release the world book beta as stated on their roadmap and social platforms. By 31 January 2018 FunFair (FUN) - "In January we will be submitting to the UK Gambling Commission our application for a Remote Gambling Software License." By 31 January 2018 TRON (TRX) - Listing on a new exchange By 31 January 2018 Cappasity (CAPP) - "The Cappasity platform powered by Cappasity token will be launched on Alibaba Cloud in China already in January 2018" 31 January 2018 ICON (ICX) - "Mainnet, 2018 roadmap, and introduce a number of DApps that will run on top of the ICON network" By 31 January 2018 Binance Coin (BNB) - Each quarter Binance uses 20% of profits to buy back and burn BNB, until 100MM BNB are burned. 31 January 2018 IOTA (MIOTA) - "IOTA Foundation is giving away $1000 worth of IOTA Tokens." By 31 January 2018 Pioneer Coin (PCOIN) - "Web wallet will be available in Januray 2018" By 31 January 2018 Blocknet (BLOCK) - The beta “soft launch” of the Blocknet DX UI is to be expected in January.
submitted by mtrnovec to Crypto_Currency_News [link] [comments]

Welcome to r/GridPlus! (Introduction, Overview, Links, and Exchange Info)

Intro
GridPlus creates hardware infrastructure that enables mainstream use of digital assets and cryptocurrencies. The GridPlus Lattice1 is a tamper resistant always-on hardware wallet that is the world's first fully integrated system for securely storing and spending digital assets.
GridPlus products form a complete cryptocurrency infrastructure stack designed to support decentralized networks and allow new means of using crypto such as integration with your home energy system and other IoT devices, facilitating subscriptions and permissioned payments, scaling via off-chain hardware verified transactions using Phonon, and acting as programmable hardware security module for PoS chain validators or nodes.
GridPlus Energy
Their first major subsidiary of GridPlus is GridPlus Energy, a licensed Texas utility provider that leverages this technology to create dramatic savings on your home energy bill with a simple user experience powered by a mobile app. Texas residents in the Oncor and CenterPoint regions can sign up and start saving today at https://gridplus.io/energy.
The Lattice1 connects to GridPlus Energy customers' electricity meters and automatically searches for the best wholesale rate then directly charges the customer the best rate plus a small fixed markup which creates huge savings versus traditional fixed rate plans.
GridPlus Energy creates additional savings through using short time interval automatic crypto payments to circumvent expensive legacy payment systems. This also saves money through diminishing the cost of bad debt expenses and collections (a major expense for traditional electricity retailers) and this is passed on to customers. Customers can pay using ETH, DAI, BTC or via traditional credit card or ACH direct bank transfers.
The Lattice1: Hardware Wallet and Crypto Infrastructure Platform
The Lattice1 also provides a hardware platform for decentralized networks and applications. Eventually users will be able to connect to Lattice1 as a wifi hotspot and automatically use it to take advantage of IPFS, ENS, and TOR via any browser without using a browser extension or other software. The platform is intended to also host state channel nodes, PoS validators, and other decentralized applications that can benefit from its unmatched security.
As a hardware wallet, the Lattice1 and GridPlus SafeCards use uncompromising security to enable the safest and most flexible cryptocurrency hardware storage ever created. The system boasts features not found in current gen alternatives such as simplified account recovery via easy out of the box hardware n-of-m multisig and secure permissioned payments and subscriptions.
The hardware also facilitates many other use cases; take a look at this blog post for a look at what's on the roadmap and additional possibilities.

The Company
GridPlus was founded in 2017 by Mark DAgostino, Alex Miller, and Dr. Karl Kreder and is headquartered in Austin, Texas.
The GridPlus Energy subsidiary is the result of energy and technology research beginning in 2015 at ConsenSys including work done in conjunction with L03 on the Brooklyn Microgrid. GridPlus Energy is located in Houston, Texas.
GridPlus is the first major company to be incubated internally by ConsenSys as a main spoke and then spun out into its own venture. They are advised by Joseph Lubin, Ethereum cofounder and founder of ConsenSys.
Their products are proudly designed and engineered in Austin and assembled in the United States.

Timeline
Hardware
GridPlus is now accepting pre-orders for the Lattice1 hardware and SafeCards in the Americas, Europe, and Singapore which will begin shipping in Q3 2020.
After the Lattice1 is shipped with firmware v1, additional integrations and features will begin to roll out: accessing DeFi dapps right from the touchscreen with no need for a computer, hardware multisig, support for eth2 BLS signatures as well as other chains, etc..

EnergyGridPlus Energy is now live and serving customers in Texas - you can sign up at https://gridplus.io/energy right now.
In the first stage of the roll out, customers can opt for monthly fixed rates and pay via ETH, DAI, or traditional methods as well as redeem GRID for an additional discount.
Later in 2020, the team will begin integration with smart home devices like Nest thermostats and smart plugs for pool pumps in order to optimize home energy consumption via dispatachable loads. Additionally, the transition to Ethereum L2-based short time interval payments will begin.

The Hardware
The Lattice1 is the cornerstone of the world’s first fully integrated system for securely storing and spending digital assets. At its core, the Lattice1 is a tamper resistant hardware wallet that links to your phone, your electricity meter, and other IoT devices using connectivity via Wifi, Bluetooth, and Zigbee antennas. The LDS mesh and other tamper resistance features essentially cause the unit to self destruct upon attempts to hack or reverse engineer the hardware.
The Lattice1 can be expanded to a limitless number of accounts using cheap physically uncloneable Safe Cards which each have their own secure enclave chip and can be used for portable offline storage or hardware multisig. The Safe Cards’ physically uncloneable functions (PUFs) convert each chip’s unique electrical fingerprint into digital entropy that cannot be stolen or observed. The Lattice1 converts this entropy into a private key which cannot be hacked. Use this private key or restore another from a seed phrase to use as your digital wallet.
Lattice1 Features:
· 5” TFT Display with Multipoint Capacitive Touch Panel
· Card Slot for Safe Cards to Provide a Limitless Amount of Accounts and Options
· Lightbar Security Pattern for Notifications
· Capacitive Home Button
· Zigbee, Wifi, and BLE Antennas
· Ethernet Jack
· Internal Secure Enclave (and External via Safe Cards)
· Secure Computing Environment
· LDS Tamper Detection Mesh
· Integrated PCD Security Mesh
· Compressed Elastomer Intrusion Detection
· Logic Power Isolation
· Lithium Ion Backup Battery

Use Cases
Energy: The Lattice1 interfaces with your home's smart meter (which are already deployed across Texas) via Zigbee antenna. It looks up the best wholesale energy rates, automatically picks the best one, then directly charges you that plus a fixed markup creating huge savings for consumers. If you have a home battery or solar panels it manages these and sells to the grid at the optimal times or even earns money via automated energy arbitrage. All under the hood without having to do anything. This has the added benefit of smoothing out demand on the grid and making it more efficient. The Zigbee antenna also lets it control other home IoT devices like your Nest thermostat; automatic management of thermostats and other dispatchable loads makes your home more energy efficient and saves more money.
Mobile Payments: The Grid+Pay mobile app will feel familiar to users of the many popular crypto wallets that exist today, but delegates its security to the Lattice1. Stop tying the fate of your crypto assets to your phone and a seed phrase — easily pair the app with your Lattice1 device and start spending your crypto assets more securely. Using the Lattice1 you can authorize the mobile wallet to spend a specified amount of crypto per time period from cold storage without having to be physically in front of the Lattice1 to approve each transaction.
Retail Point of Sale: Grid+Commerce lets you easily accept digital currencies with no fees and no chargebacks. Integrate the Grid+Pay components into your site with just a few lines of code and accept physical payments using a Lattice1 device as a payment terminal. Grid+Pay provides merchants with an experience nearly identical to a traditional payment provider, but allows for direct peer-to-peer payments with their customers. Additionally, Grid+ is applying for PCI certification to allow the Lattice1 to accept traditional credit and debit card payments. Cutting out middlemen, businesses and consumers both save.
Generalized Crypto Hardware Platform: The Lattice1 SDK has been feature-locked and is functionally ready for production pending the release of the hardware itself. Multiple teams are working behind the scenes to integrate the hardware into their own platforms. You can read the documentation here and check out the source code here. It is important to note that GridPlus will be evaluating additional signature schemas for future releases. Examples may include ERC721 transfers, Lightning transactions, or Maker CDP interactions. If you are a developer utilizing a signature schema outside of ether, ERC20, and bitcoin transfers (and if you want to integrate with the Lattice1), please reach out to the team and they may add the schema to a future firmware update.

The Token
GRID can be redeemed for 500 kWh of electricity with zero markup by GridPlus Energy or at other retail energy providers who implement the technology stack. Retail customers can buy these on the secondary market to redeem them for even more savings on their electricity bills, but GRID is not required to use the service.
Additionally, customers can pay their full bill in GRID for even deeper discounts. The redemption rate is set monthly by taking the UniSwap spot price, multiplying this by 5, then setting a per GRID rates in kWh based on the prior period's average energy rate. Sounds complicated, but what it means is that no matter where the price of GRID and energy goes, customers will be able to pay their bill with GRID for a discount of as much as 80% off of wholesale rates!
GRID can now also be redeemed for a discount of up to $200 off the purchase of a Lattice1.
A fixed number of GRID have been created and when redeemed by a customer, they are taken out of circulation forever.

Additional Resources
Coverage & Interviews
Where Can I Buy GRID?
Direct:
DEX Aggregators:
submitted by MidnightOnMars to GridPlus [link] [comments]

For Public Record-My Legal Notice Letter to Mintpal Ltd and Moopay Ltd

To,
Chelsea Hopkins, Director of Mintpal Ltd, a UK Registered Business - Company Number 09009856 of Kemp House City Road, London, EC1V 2NX
My name is ■■■■■■■■■, And I am writing this letter to inform you that I am going to be taking legal action against Mintpal Ltd unless immediate action is taken to rectify and recover the losses I have sustained and endured due to technical issues and incompetence by the staff of Mintpal Ltd and its respective owners and staff.
My account login is ■■■■■■■■■■■■■■■■■■■■■■■■■■
My account (■■■■■■■■■■■■■■■■■■■■■■■■■■) has been in an ‘Administrative Lockdown’ period since July 9th 2014 - which at the time of writing this letter, has now been for over three months. The initial reason for the lockdown was due to a hacking attempt made on my account.
Since then, there has since been an apologetic silence for the fact that I have been unable to access my portfolio after repeated attempts at contacting Mintpal Ltd staff and customer service representatives through all available channels - this includes Email, Support Tickets via Email, Reddit, Twitter, IRC (Freenode). I would also like to add that at this current time (Thursday 9th October 2014) that the current Mintpal.com support page is a 404 page (page not found) which is further testament to the fact that these issues are not being handled with any diligence or care.
I have now suffered huge losses as a direct consequence of not only poor customer service, but also subsequent technical blunders which have resulted in hundreds, if not thousands of other Mintpal users accounts being lost or affected by similar issues.
At the time that the administrative lockdown was applied to my account, my balances were as followed
Blackcoin - 200,000
Vericoin - 147,000
Fluttercoin - 2,400,000
On the date of the 9th of July the total value of my portfolio exceeded 100 BitCoins - which on the 9th of July 2014 was valued at $620 USD totalling a value of my portfolio in excess of $62,000 USD.
At todays values, by my estimates my portfolio is worth less than 20 BTC which on todays market (9th October 2014) is currently only worth $7,480 - a $54,520 loss due to the neglect of Mintpal Ltd and its owners and staff.
The administrative lockdown period and the lack of customer service has now completely diminished the value of my portfolio. All of the time that I have expended in generating monies through crypto currency whether it be via investment in to hardware of investment through my own personal time has also been completely destroyed by Mintpal Ltd’s incompetence and poor management.
What is absolutely clear is that Mintpal Ltd and their respective staff had no protocol in place for when an account goes in to Administrative Lockdown. There is no documentation or FAQ or any information carried on the website which will provide an explanation in the event of Administrative Lockdown being provided to an account.
I attempted to speak to “Mintpal-Jay” who provided no assistance and subsequently I spoke with “Jason” who simply told me that my account was “A strange case”.
Due to these errors and the time following on from when my account was placed in to Administrative Lock down, I had been unable to retake control to trade, sell or buy other coins or even cover my losses in any way.
Whilst I am aware that Mintpal had changed ownership in the recent months, the new owner, Alex Green (“Moolah”), Director of Moopay Ltd - Company Number 08920347 of 1st Floor, 2 Woodberry Grove, Finchley, London N12 0DR has not gone to any effort to rectify this and nor has Chelsea.
I have made a number of attempts to contact the site administrators, staff and even Alex Green and Chelsea Hopkins directly in order to have this issue resolved after the acquisition of Mintpal Ltd was made.
There exists no public record of the contract which was agreed upon by both parties or anything which alludes to members and assets and outstanding technical issues. This has left myself and a number of other users of Mintpal.com in the lurch and severely out of pocket.
I had then spoken to “jrwr” who was appointed to handle any and all issues relating to wallet daemons and issues as he was the only person I have been able to speak to. I asked him whether there are any obvious accounts which have been flagged up to still be dealt with and he told me that he had no idea.
With each day that goes by that I am unable to access my account, I am sustaining huge financial losses.
I can provide full logs which will detail my attempts at contacting both Jason and Mintpal-Jay in order to recover my account - no reply was made and it is clear from everything described above that the onus to resolve this matter is on the service provider, Mintpal Ltd.
It is clear that no one is aware of any issues and that no one is prepared to take responsibility.
I am giving you a 14 day period to write back to me in full via International Post before I escalate this issue further and instruct a solicitor to act on my behalf to recover the funds with additional interest owed due to my inability to access my own funds.
I will also be proactively working with anyone else who has experienced similar issues to myself including being locked out of their accounts as well as other users who have had their accounts lost due to further recent technical incidents within the last month.
I await your reply and will be publishing a public copy of this to enable any other users who have been affected a way of getting justice to this tragic set of circumstances which has had a huge negative impact upon my financial health which has subsequently led me to feel anxious and paranoid that my money will be gone forever.
All correspondence from herein must be written via post.
Sincerely.
■■■■■■■■■
Update 1: I have emailed moolah as requested - my email to him reads as follows:
Click Here
Update 2: I have received an email reply:
Click Here
Update 3: My reply to his email:
Click Here
Update 4: Moolah has replied:
Click Here
Update 5: Another reply to Moolah:
Click Here
I moved everything to Imgur so the post is less clogged
Update 6:
Moolah,
You are now at liberty to provide full disclosure in the interest in resolving this matter with me. You have stated that you are also happy to deal with this openly in the public domain and therefore I request the proof of existence of things which you have said yourself that you have done since having received my initial communication via Reddit.
  1. Please provide full transcripts of your conversations that were had with the previous owners in response to my account issue as stated in your reply which can be found in 'Update 4' above.
  2. Substantiate that any "list" WAS passed to you by previous management for full disclosure in the interest of community wide transparency if one did indeed exist.
I await this information.
Update 7: In response to Moolah's posts below,
Click Here
and Here
submitted by weredo911 to dogecoin [link] [comments]

Trading Cryptocurrency Markets

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Major Exchanges
In finance, an exchange is a forum or platform for trading commodities, derivatives, securities or other financial instruments. The principle concern of an exchange is to allow trading between parties to take place in a fair and legally compliant manner, as well as to ensure that pricing information for any instrument traded on the exchange is reliable and coherently delivered to exchange participants. In the cryptocurrency space exchanges are online platforms that allow users to trade cryptocurrencies or digital currencies for fiat money or other cryptocurrencies. They can be centralized exchanges such a Binance, or decentralized exchanges such as IDEX. Most cryptocurrency exchanges allow users to trade different crypto assets with BTC or ETH after having already exchanged fiat currency for one of those cryptocurrencies. Coinbase and Kraken are the main avenue for fiat money to enter into the cryptocurrency ecosystem.
Function and History
Crypto exchanges can be market-makers that take bid/ask spreads as a commission on the transaction for facilitating the trade, or more often charge a small percentage fee for operating the forum in which the trade was made. Most crypto exchanges operate outside of Western countries, enabling them to avoid stringent financial regulations and the potential for costly and lengthy legal proceedings. These entities will often maintain bank accounts in multiple jurisdictions, allowing the exchange to accept fiat currency and process transactions from customers all over the globe.
The concept of a digital asset exchange has been around since the late 2000s and the following initial attempts at running digital asset exchanges foreshadows the trouble involved in attempting to disrupt the operation of the fiat currency baking system. The trading of digital or electronic assets predate Bitcoin’s creation by several years, with the first electronic trading entities running afoul of the Australian Securities and Investments Commission (ASIC) in late 2004. Companies such as Goldex, SydneyGoldSales, and Ozzigold, shut down voluntarily after ASIC found that they were operating without an Australian Financial Services License. E-Gold, which exchanged fiat USD for grams of precious metals in digital form, was possibly the first digital currency exchange as we know it, allowing users to make instant transfers to the accounts of other E-Gold members. At its peak in 2006 E-Gold processed $2 billion worth of transactions and boasted a user base of over 5 million people.
Popular Exchanges
Here we will give a brief overview of the features and operational history of the more popular and higher volume exchanges because these are the platforms to which newer traders will be exposed. These exchanges are recommended to use because they are the industry standard and they inspire the most confidence.
Bitfinex
Owned and operated by iFinex Inc, the cryptocurrency trading platform Bitfinex was the largest Bitcoin exchange on the planet until late 2017. Headquartered in Hong Kong and based in the US Virgin Island, Bitfinex was one of the first exchanges to offer leveraged trading (“Margin trading allows a trader to open a position with leverage. For example — we opened a margin position with 2X leverage. Our base assets had increased by 10%. Our position yielded 20% because of the 2X leverage. Standard trades are traded with leverage of 1:1”) and also pioneered the use of the somewhat controversial, so-called “stable coin” Tether (USDT).
Binance
Binance is an international multi-language cryptocurrency exchange that rose from the mid-rank of cryptocurrency exchanges to become the market dominating behemoth we see today. At the height of the late 2017/early 2018 bull run, Binance was adding around 2 million new users per week! The exchange had to temporarily disallow new registrations because its servers simply could not keep up with that volume of business. After the temporary ban on new users was lifted the exchange added 240,000 new accounts within two hours.
Have you ever thought whats the role of the cypto exchanges? The answer is simple! There are several different types of exchanges that cater to different needs within the ecosystem, but their functions can be described by one or more of the following: To allow users to convert fiat currency into cryptocurrency. To trade BTC or ETH for alt coins. To facilitate the setting of prices for all crypto assets through an auction market mechanism. Simply put, you can either mine cryptocurrencies or purchase them, and seeing as the mining process requires the purchase of expensive mining equipment, Cryptocurrency exchanges can be loosely grouped into one of the 3 following exchange types, each with a slightly different role or combination of roles.
Have you ever thought about what are the types of Crypto exchanges?
  1. Traditional Cryptocurrency Exchange: These are the type that most closely mimic traditional stock exchanges where buyers and sellers trade at the current market price of whichever asset they want, with the exchange acting as the intermediary and charging a small fee for facilitating the trade. Kraken and GDAX are examples of this kind of cryptocurrency exchange. Fully peer-to-peer exchanges that operate without a middleman include EtherDelta, and IDEX, which are also examples of decentralized exchanges.
  2. Cryptocurrency Brokers: These are website or app based exchanges that act like a Travelex or other bureau-de-change. They allow customers to buy or sell crypto assets at a price set by the broker (usually market price plus a small premium). Coinbase is an example of this kind of exchange.
  3. Direct Trading Platform: These platforms offer direct peer-to-peer trading between buyers and sellers, but don’t use an exchange platform in doing so. These types of exchanges do not use a set market rate; rather, sellers set their own rates. This is a highly risky form of trading, from which new users should shy away.
To understand how an exchange functions we need only look as far as a traditional stock exchange. Most all the features of a cryptocurrency exchange are analogous to features of trading on a traditional stock exchange. In the simplest terms, the exchanges fulfil their role as the main marketplace for crypto assets of all kinds by catering to buyers or sellers. These are some definitions for the basic functions and features to know: Market Orders: Orders that are executed instantly at the current market price. Limit Order: This is an order that will only be executed if and when the price has risen to or dropped to that price specified by the trader and is also within the specified period of time. Transaction fees: Exchanges will charge transactions fees, usually levied on both the buyer and the seller, but sometimes only the seller is charged a fee. Fees vary on different exchanges though the norm is usually below 0.75%. Transfer charges: The exchange is in effect acting as a sort of escrow agent, to ensure there is no foul play, so it might also charge a small fee when you want to withdraw cryptocurrency to your own wallet.
Regulatory Environment and Evolution
Cryptocurrency has come a long way since the closing down of the Silk Road darknet market. The idea of crypto currency being primarily for criminals, has largely been seen as totally inaccurate and outdated. In this section we focus on the developing regulations surrounding the cryptocurrency asset class by region, and we also look at what the future may hold.
The United States of America
A coherent uniform approach at Federal or State level has yet to be implemented in the United States. The Financial Crimes Enforcement Network published guidelines as early as 2013 suggesting that BTC and other cryptos may fall under the label of “money transmitters” and thus would be required to take part in the same Anti-money Laundering (AML) and Know your Client (KYC) procedures as other money service businesses. At the state level, Texas applies its existing finance laws. And New York has instituted an entirely new licensing system.
The European Union
The EU’s approach to cryptocurrency has generally been far more accommodating overall than the United States, partly due to the adaptable nature of pre-existing laws governing electronic money that predated the creation of Bitcoin. As with the USA, the EU’s main fear is money laundering and criminality. The European Central Bank (ECB) categorized BTC as a “convertible decentralized currency” and advised all central banks in the EU to refrain from trading any cryptocurrencies until the proper regulatory framework was put in place. A task force was then set up by the European Parliament in order to prevent and investigate any potential money laundering that was making use of the new technology.
Likely future regulations for cryptocurrency traders within the European Union and North America will probably consist of the following proposals: The initiation of full KYC procedures so that users cannot remain fully anonymous, in order to prevent tax evasion and curtail money laundering. Caps on payments that can be made in cryptocurrency, similar to caps on traditional cash transactions. A set of rules governing tax obligations regarding cryptocurrencies Regulation by the ECB of any companies that offer exchanges between cryptocurrencies and fiat currencies It is less likely for other countries to follow the Chinese approach and completely ban certain aspects of cryptocurrency trading. It is widely considered more progressive and wiser to allow the technology to grow within a balanced accommodative regulatory framework that takes all interests and factors into consideration. It is probable that the most severe form of regulation will be the formation of new governmental bodies specifically to form laws and exercise regulatory control over the cryptocurrency space. But perhaps that is easier said than done. It may, in certain cases, be incredibly difficult to implement particular regulations due to the anonymous and decentralized nature of crypto.
Behavior of Cryptocurrency Investors by Demographic
Due to the fact that cryptocurrency has its roots firmly planted in the cryptography community, the vast majority of early adopters are representative of that group. In this section we cover the basic structure of the cryptocurrency market cycle and the makeup of the community at large, as well as the reasons behind different trading decisions.
The Cryptocurrency Market Cycle
Bitcoin leads the bull rally. FOMO (Fear of missing out) occurs, the price surge is a constant topic of mainstream news, business programs cover the story, and social media is abuzz with cryptocurrency chatter. Bitcoin reaches new All Timehigh (ATH) Market euphoria is fueled with even more hype and the cycle is in full force. There is a constant stream of news articles and commentary on the meteoric, seemingly unstoppable rise of Bitcoin. Bitcoin’s price “stabilizes”, In the 2017 bull run this was at or around $14,000. A number of solid, large market cap altcoins rise along with Bitcoin; ETH & LTC leading the altcoins at this time. FOMO comes into play, as the new ATH in market cap is reached by pumping of a huge number of alt coins.
Top altcoins “somewhat” stabilize, after reaching new all-time highs. The frenzy continues with crypto success stories, notable figures and famous people in the news. A majority of lesser known cryptocurrencies follow along on the upward momentum. Newcomers are drawn deeper into crypto and sign up for exchanges other than the main entry points like Coinbase and Kraken. In 2017 this saw Binance inundated with new registrations. Some of the cheapest coins are subject to massive pumping, such as Tron TRX which saw a rise in market cap from $150 million at the start of December 2017 to a peak of $16 billion! At this stage, even dead coins or known scams will get pumped. The price of the majority of cryptocurrencies stabilize, and some begin to retract. When the hype is subsiding after a huge crypto bull run, it is a massive sell signal. Traditional investors will begin to give interviews about how people need to be careful putting money into such a highly volatile asset class. Massive violent correction begins and the market starts to collapse. BTC begins to fall consistently on a daily basis, wiping out the insane gains of many medium to small cap cryptos with it. Panic selling sweeps through the market. Depression sets in, both in the markets, and in the minds of individual investors who failed to take profits, or heed the signs of imminent collapse. The price stagnation can last for months, or even years.
The Influence of Age upon Trading
Did you know? Cryptocurrencies have been called “stocks for millennials” According to a survey conducted by the Global Blockchain Business Council, only 5% of the American public own any bitcoin, but of those that do, an overwhelming majority of 71% are men, 58% of them are between the ages of 18 and 35, and over half of them are minorities. The same survey gauged public attitude toward the high risk/high return nature of cryptocurrency, in comparison to more secure guaranteed small percentage gains offered by government bonds or stocks, and found that 30% would rather invest $1,000 in crypto. Over 42% of millennials were aware of cryptocurrencies as opposed to only 15% of those ages 65 and over. In George M. Korniotis and Alok Kumar’s study into the effects of aging on portfolio management and the quality of decisions made by older investors, they found “that older and experienced investors are more likely to follow “rules of thumb” that reflect greater investment knowledge. However, older investors are less effective in applying their investment knowledge and exhibit worse investment skill, especially if they are less educated and earn lower income.”
Geographic Influence upon Trading
One of the main drivers of the apparent seasonal ebb and flow of cryptocurrency prices is the tax situation in the various territories that have the highest concentrations of cryptocurrency holders. Every year we see an overall market pull back beginning in mid to late January, with a recovery beginning usually after April. This is because “Tax Season” is roughly the same across Europe and the United States, with the deadline for Income tax returns being April 15th in the United States, and the tax year officially ending the UK on the 6th of April. All capital gains must be declared before the window closes or an American trader will face the powerful and long arm of the IRS with the consequent legal proceedings and possible jail time. Capital gains taxes around the world vary from jurisdiction to jurisdiction but there are often incentives for cryptocurrency holders to refrain from trading for over a year to qualify their profits as long term gain when they finally sell. In the US and Australia, for example, capital gains are reduced if you bought cryptocurrency for investment purposes and held it for over a year. In Germany if crypto assets are held for over a year then the gains derived from their sale are not taxed. Advantages like this apply to individual tax returns, on a case by case basis, and it is up to the investor to keep up to date with the tax codes of the territory in which they reside.
2013 Bull run vs 2017 Bull run price Analysis
In late 2016 cryptocurrency traders were faced with the task of distinguishing between the beginnings of a genuine bull run and what might colorfully be called a “dead cat bounce” (in traditional market terminology). Stagnation had gripped the market since the pull-back of early 2014. The meteoric rise of Bitcoin’s price in 2013 peaked with a price of $1,100 in November 2013, after a year of fantastic news on the adoption front with both Microsoft and PayPal offering BTC payment options. It is easy to look at a line going up on a chart and speak after the fact, but at the time, it is exceeding difficult to say whether the cat is actually climbing up the wall, or just bouncing off the ground. Here, we will discuss the factors that gave savvy investors clues as to why the 2017 bull run was going to outstrip the 2013 rally. Hopefully this will help give insight into how to differentiate between the signs of a small price increase and the start of a full scale bull run. Most importantly, Volume was far higher in 2017. As we can see in the graphic below, the 2017 volume far exceeds the volume of BTC trading during the 2013 price increase. The stranglehold MtGox held on trading made a huge bull run very difficult and unlikely.
Fraud & Immoral Activity in the Private Market
Ponzi Schemes Cryptocurrency Ponzi schemes will be covered in greater detail in Lesson 7, but we need to get a quick overview of the main features of Ponzi schemes and how to spot them at this point in our discussion. Here are some key indicators of a Ponzi scheme, both in cryptocurrencies and traditional investments: A guaranteed promise of high returns with little risk. Consistentflow of returns regardless of market conditions. Investments that have not been registered with the Securities and Exchange Commission (SEC). Investment strategies that are a secret, or described as too complex. Clients not allowed to view official paperwork for their investment. Clients have difficulties trying to get their money back. The initial members of the scheme, most likely unbeknownst to the later investors, are paid their “dividends” or “profits” with new investor cash. The most famous modern-day example of a Ponzi scheme in the traditional world, is Bernie Madoff’s $100 billion fraudulent enterprise, officially titled Bernard L. Madoff Investment Securities LLC. And in the crypto world, BitConnect is the most infamous case of an entirely fraudulent project which boasted a market cap of $2 billion at its peak.
What are the Exchange Hacks?
The history of cryptocurrency is littered with examples of hacked exchanges, some of them so severe that the operation had to be wound up forever. As we have already discussed, incredibly tech savvy and intelligent computer hackers led by Alexander Vinnik stole 850000 BTC from the MtGox exchange over a period from 2012–2014 resulting in the collapse of the exchange and a near-crippling hammer blow to the emerging asset class that is still being felt to this day. The BitGrail exchange suffered a similar style of attack in late 2017 and early 2018, in which Nano (XRB) was stolen that was at one point was worth almost $195 million. Even Bitfinex, one of the most famous and prestigious exchanges, has suffered a hack in 2016 where $72 million worth of BTC was stolen directly from customer accounts.
Hardware Wallet Scam Case Study
In late 2017, an unfortunate character on Reddit, going by the name of “moody rocket” relayed his story of an intricate scam in which his newly acquired hardware wallet was compromised, and his $34,000 life savings were stolen. He bought a second hand Nano ledger into which the scammers own recover seed had already been inserted. He began using the ledger without knowing that the default seed being used was not a randomly assigned seed. After a few weeks the scammer struck, and withdrew all the poor HODLer’s XRP, Dash and Litecoin into their own wallet (likely through a few intermediary wallets to lessen the very slim chances of being identified).
Hardware Wallet Scam Case Study Social Media Fraud
Many gullible and hapless twitter users have fallen victim to the recent phenomenon of scammers using a combination of convincing fake celebrity twitter profiles and numerous amounts of bots to swindle them of ETH or BTC. The scammers would set up a profile with a near identical handle to a famous figure in the tech sphere, such as Vitalik Buterin or Elon Musk. And then in the tweet, immediately following a genuine message, follow up with a variation of “Bonus give away for the next 100 lucky people, send me 0.1 ETH and I will send you 1 ETH back”, followed by the scammers ether wallet address. The next 20 or so responses will be so-called sockpuppet bots, thanking the fake account for their generosity. Thus, the pot is baited and the scammers can expect to receive potentially hundreds of donations of 0.1 Ether into their wallet. Many twitter users with a large follower base such as Vitalik Buterin have taken to adding “Not giving away ETH” to their username to save careless users from being scammed.
Market Manipulation
It also must be recognized that market manipulation is taking place in cryptocurrency. For those with the financial means i.e. whales, there are many ways in which to control the market in a totally immoral and underhanded way for your own profit. It is especially easy to manipulate cryptos that have a very low trading volume. The manipulator places large buy orders or sell walls to discourage price action in one way or the other. Insider trading is also a significant problem in cryptocurrency, as we saw with the example of blatant insider trading when Bitcoin Cash was listed on Coinbase.
Examples of ICO Fraudulent Company Behavior
In the past 2 years an astronomical amount of money has been lost in fraudulent Initial Coin Offerings. The utmost care and attention must be employed before you invest. We will cover this area in greater detail with a whole lesson devoted to the topic. However, at this point, it is useful to look at the main instances of ICO fraud. Among recent instances of fraudulent ICOs resulting in exit scams, 2 of the most infamous are the Benebit and PlexCoin ICOs which raised $4 million for the former and $15 million for the latter. Perhaps the most brazen and damaging ICO scam of all time was the Vietnamese Pincoin ICO operation, where $660million was raised from 32,000 investors before the scammer disappeared with the funds. In case of smaller ICO “exit scamming” there is usually zero chance of the scammers being found. Investors must just take the hit. We will cover these as well as others in Lesson 7 “Scam Projects”.
Signposts of Fraudulent Actors
The following factors are considered red flags when investigating a certain project or ICO, and all of them should be considered when deciding whether or not you want to invest. Whitepaper is a buzzword Salad: If the whitepaper is nothing more than a collection of buzzwords with little clarity of purpose and not much discussion of the tech involved, it is overwhelmingly likely you are reading a scam whitepaper.
Signposts of Fraudulent Actors §2
No Code Repository: With the vast majority of cryptocurrency projects employing open source code, your due diligence investigation should start at GitHub or Sourceforge. If the project has no entries, or nothing but cloned code, you should avoid it at all costs. Anonymous Team: If the team members are hard to find, or if you see they are exaggerating or lying about their experience, you should steer clear. And do not forget, in addition to taking proper precautions when investing in ICOs, you must always make sure that you are visiting authentic web pages, especially for web wallets. If, for example, you are on a spoof MyEtherWallet web page you could divulge your private key without realizing it and have your entire portfolio of Ether and ERC-20 tokens cleaned out.
Methods to Avoid falling Victim
Avoiding scammers and the traps they set for you is all about asking yourself the right questions, starting with: Is there a need for a Blockchain solution for the particular problem that a particular ICO is attempting to solve? The existing solution may be less costly, less time consuming, and more effective than the proposals of a team attempting to fill up their soft cap in an ICO. The following quote from Mihai Ivascu, the CEO of Modex, should be kept in mind every time you are grading an ICO’s chances of success: “I’m pretty sure that 95% of ICOswill not last, and many will go bankrupt. ….. not everything needs to be decentralized and put on an open source ledger.”
Methods to Avoid falling Victim §2 Do I Trust These People with My Money, or Not?
If you continue to feel uneasy about investing in the project, more due diligence is needed. The developers must be qualified and competent enough to complete the objectives that they have set out in the whitepaper.
Is this too good to be true?
All victims of the well-known social media scams using fake profiles of Vitalik Buterin, or Bitconnect investors for that matter, should have asked themselves this simple question, and their investment would have been saved. In the case of Bitconnect, huge guaranteed gains proportional to the amount of people you can get to sign up was a blatant pyramid scheme, obviously too good to be true. The same goes for Fake Vitalik’s offer of 1 ether in exchange for 0.1 ETH.
Selling Cryptocurrencies, Several reasons for selling with the appropriate actions to take:
If you are selling to buy into an ICO, or maybe believe Ether is a safer currency to hold for a certain period of time, it is likely you will want to make use of the Ether pair and receive Ether in return. Obviously if the ICO is on the NEO or WANchain blockchain for example, you will use the appropriate pair. -Trading to buy into another promising project that is listing on the exchange on which you are selling (or you think the exchange will experience a large amount of volume and become a larger exchange), you may want to trade your cryptocurrency for that exchange token. -If you believe that BTC stands a good chance of experiencing a bull run then using the BTC trading pair is the suitable choice. -If you believe that the market is about to experience a correction but you do not want to take your gains out of the market yet, selling for Tether or “tethering up” is the best play. This allows you to keep your locked-in profits on the exchange, unaffected by the price movements in the cryptocurrency markets,so that you can buy back in at the most profitable moment. -If you wish to “cash out” i.e. sell your cryptocurrency for fiat currency and have those funds in your bank account, the best pair to use is ETH or BTC because you will likely have to transfer to an exchange like Kraken or Coinbase to convert them into fiat. If the exchange offers Litecoin or Bitcoin Cash pairs it could be a good idea to use these for their fast transaction time and low fees.
Selling Cryptocurrencies
Knowing when and how to sell, as well as strategies to inflate the value of your trade before sale, are important skills as a trader of any product or financial instrument. If you are satisfied that the sale itself of the particular amount of a token or coin you are trading away is the right one, then you must decide at what price you are going to sell. Exchanges exercise their own discretion as to which trading “pairs” they will offer, but the most common ones are BTC, ETH, BNB for Binance, BIX for Bibox etc., and sometimes Tether (USDT) or NEO. As a trader, you decide which particular cryptocurrency to exchange depending on your reason for making that specific trade at that time.
Methods of Sale
Market sell/Limit sell on exchange: A limit sell is an order placed on an exchange to sell as soon as (also specifically only if and when) the price you specified has been hit within the time limit you select. A market order executes the sale immediately at the best possible price offered by the market at that exact time. OTC (or Over the Counter) selling refers to sale of securities or cryptocurrencies in any method without using an exchange to intermediate the trade and set the price. The most common way of conducting sales in this manner is through LocalBitcoins.com. This method of cryptocurrency selling is far riskier than using an exchange, for obvious reasons.
The influence and value of your Trade
There are a number of strategies you can use to appreciate the value of your trade and thus increase the Bitcoin or Ether value of your portfolio. It is important to disassociate yourself from the dollar value of your portfolio early on in your cryptocurrency trading career simply because the crypto market is so volatile you will end up pulling your hair out in frustration following the real dollar money value of your holdings. Once your funds have been converted into BTC and ETH they are completely in the crypto sphere. (Some crypto investors find it more appropriate to monitor the value of their portfolio in satoshi or gwei.) Certainly not limited to, but especially good for beginners, the most reliable way to increase your trading profits, and thus the overall value and health of your portfolio, is to buy into promising projects, hold them for 6 months to a year, and then reevaluate. This is called Long term holding and is the tactic that served Bitcoin HODLers quite well, from 2013 to the present day. Obviously, if something comes to light about the project that indicates a lengthy set back is likely, it is often better to cut your losses and sell. You are better off starting over and researching other projects. Also, you should set initial Price Points at which you first take out your original investment, and then later, at which you take out all your profits and exit the project. That should be after you believe the potential for growth has been exhausted for that particular project.
Another method of increasing the value of your trades is ICO flipping. This is the exact opposite of long term holding. This is a technique in which you aim for fast profits taking advantage of initial enthusiasm in the market that may double or triple the value of ICO projects when they first come to market. This method requires some experience using smaller exchanges like IDEX, on which project tokens can be bought and sold before listing on mainstream exchanges. “Tethering up” means to exchange tokens or coins for the USDT stable coin, the value of which is tethered to the US Dollar. If you learn, or know how to use, technical analysis, it is possible to predict when a market retreatment is likely by looking at the price movements of BTC. If you decide a market pull back is likely, you can tether up and maintain the dollar value of your portfolio in tether while other tokens and coins decrease in value. The you wait for an opportune moment to reenter the market.
Market Behavior in Different Time Periods
The main descriptors used for overall market sentiment are “Bull Market” and “Bear Market”. The former describes a market where people are buying on optimism. The latter describes a market where people are selling on pessimism. Fun (or maybe not) fact: The California grizzly bear was brought to extinction by the love of bear baiting as a sport in the mid 1800s. Bears were highly sought after for their intrinsic fighting qualities, and were forced into fighting bulls as Sunday morning entertainment for Californians. What has this got to do with trading and financial markets? The downward swipe of the bear’s paws gives a “Bear market” its name and the upward thrust of a Bull’s horns give the “Bull Market” its name. Most unfortunately for traders, the bear won over 80% of the bouts. During a Bull market, optimism can sometimes grow to be seemingly boundless, volume is rising, and prices are ascending. It can be a good idea to sell or rebalance your portfolio at such a time, especially if you have a particularly large position in one holding or another. This is especially applicable if you need to sell a large amount of a relatively low-volume holding, because you can then do so without dragging the price down by the large size of your own sell order.
Learn more on common behavioral patterns observed so far in the cryptocurrency space for different coins and ICO tokens.
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