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Hide and Seek

An old friend of mine emailed this to me a while back with the subject line “Hide and Seek” and I’ve been hesitant to post it for reasons that should become obvious as you read it. That said, I feel that enough time has gone by for this to be safe so I’m going to post it here. The only edits I’ve made were swapping out names and formatting, otherwise it’s all exactly as he sent it.
T, if you’re reading this then message me. I want to know if you’re alright, and if you are I know you’ll be looking for this story to show up.
This is what the email said:
Rijento,
I’m writing this story because I feel like I need an outlet. I swear to god that you better actually check your email for once in your damn life!
Please…
As for if you actually are reading this, I want you to wait as long as your (admittedly) better judgment tells you to wait and then post this story online. I know it’s a bit vain, but I want people to know my story. Hell, it might be the last one I ever tell. Double hell, it might actually even help some poor soul out.
I’m going to disappear after sending this, hopefully the good kind of disappear and not the death kind. I know nobody but you is going to believe this story but damn if typing this out didn’t make my sorry ass feel better. You were right about that man, I’m sorry for giving you shit for writing so much…
This is the attached file. “Hide and Seek”:
Before I get in to the ‘hiding’ and ‘seeking’ I have a bit of a confession that needs to be made. I work as a transporter for a deep web black market site… I hope it doesn’t change your opinion of me too much, sorry for not telling you sooner.
I’m the guy they call when they get an order for something they can’t send through the mail. Guns and live animals are two good examples. You’d be pretty hyped to know how many rich assholes just order lions and tigers from the dark web.
For obvious reasons, I can’t go in to too much detail, I don’t want to make any dangerous enemies and even after this I still don’t want to lose my job. It’s a pretty sweet gig all things considered, all I have to do is pick up from the seller and deliver to the buyer. I can even choose what jobs I want to take, lets me cling to what little principles I still have. And I DO have principles. After a few years working for the site, my two rules were: no people and no crossing borders.
Anyways, I got into a bit of a bind with the cryptocurrency crash that happened early this year. The site mostly pays in Bitcoin and, well, I decided to let my wallet sit and grow. By the time I realized what happened, my savings were destroyed. Nobody expected it to crash that hard… And it probably wouldn’t have been as much of a problem if I hadn’t also gotten used to living a life full of the finer things. I didn’t really ‘save’ all that much to begin with either. So when my savings finally ran dry and the market was still down, I decided to… Lower my standards a bit and take a riskier, higher paying job.
Organ transport.
I haven’t done it before… I hadn’t been that broke in a long time. Organ jobs pay well too, and I figured I still wasn’t strictly breaking my ‘no people’ rule if it was just their organs. So, I hopped on the site and browsed through the pitiful number of requests in my area till I found what I was looking for. A rich buyer who: had shady connections, was in need of some organs, and lacked either the time or patience to wait for them to come legally. As far as these sort of requests went, this was pretty much the norm from what I’d heard. So I accepted the job and got an email with some additional details about the order: the customer needed two kidneys (which was what I was to transport) and a liver (which they had made a separate request for).
From what other people on the site have told me, what should have happened was the job would move to the ‘seeking seller’ section and I’d be on hold till someone… ‘_acquired_’ the kidneys.
What actually happened probably should have tipped me off to use my monthly free withdraw… I got a notification two hours later that there was a seller.
Rijento, I don’t know how much you know about medicine, but if you do know anything then you’re probably squirming in your own skin about right now. For those who may or may not be reading this that are not in the know, not only do the donor and receiver have to have compatible blood types but kidneys only last about a day outside of a warm body.
Not exactly a product you can stockpile.
I got another email, about the pickup this time, and began the internal debate between the bad feeling in my gut and my empty wallet… You can probably guess which one of them won out… Anyways, I planned my route; one hour to get to the seller and four hours to get from there to the buyer. I sent the site my plan and within minutes they approve of it and set up an actual meeting point. I sighed and grabbed my things, trying to swallow my nerves the entire hour it took me to reach the meeting point.
I sat down on a bench in a city park and waited for what seemed like ages before I felt someone staring at me. It took me a solid minute to pick out who it was even though there were only a few people around. He was sitting with his back to me at a picnic table about ten yards away from me and whenever I looked away I could feel his eyes on me. When we eventually did make eye-contact he bounced excitedly in his seat and waved me over; my heart sank as he also slid a small case into my line of sight.
I forced myself to smile, walked over, sat down, and hid my annoyance. Most of the buyers on the site were practically carbon copies of each other. Probably because you could only become a buyer if another buyer knew and endorsed you. The sellers, on the other hand, were all certifiably insane.
None of the other transporters I’d chatted with had ever met with a ‘normal’ seller. Because of this, all of them quickly learned to keep conversation to a minimum and to not under any circumstances piss any of them off. I decided to follow in their example.
The man sitting in front of me looked friendly enough, overly so if anything. He was scrawny, didn’t look like he would be strong enough to… well… kill someone and harvest their insides. He had a strange smile on his face, and even now I can’t get it out of my head. The kind of overly friendly, wide toothed smile that mothers warned their children to stay away from. It somehow managed to be both inviting and creepy at the same time.
I smiled back and spoke up, “So you’re the seller then?” I asked, and the man nodded.
He nodded and responded in a sickeningly sweet voice… He sounded like a child in a toy store, his voice strained with excitement and wonder as he droned on to his parents about what toys he wanted.
“Oh I’m so glad you found me. For a minute there I thought I’d have to call ‘olly olly oxen free.’” He said with a pleased sigh, pushing the case to my side of the table. “You know… Over the years I’ve gotten quite good at playing hide and seek. So good, in fact, that I’ve never been found. Not. Even. Once. Do you want to know my secret?” the man asked, his voice still just as unsettlingly sweet as his smile.
“Sure, what’s your secret?” I asked. I really, really didn’t want to know what the hell he was talking about; but if it kept him happy then…
He clapped rapidly and bounced in place, “Oh I’m so glad that you’re a curious one. My secret is that the seekers never know that they’re playing.”
“Makes sense…” I said, opening the case momentarily to verify. Two kidneys in pristine condition, doused with preserving fluid, wrapped in plastic. and packed in ice. “If the seeker doesn’t know they’re playing then how would they know to start looking?” I said, leaving out the fact that it would just be stalking at that point before swallowing hard when I thought about where these kidneys came from.
“You’re a smart one…” he said with a smile as I sent a message confirming the pickup. All that was left was to wait for the transaction to process. “I was worried about this last one though… she came right up to me. This. Close.” he said, leaning in till our faces almost touched.
I struggled to keep my composure, and managed to keep from jumping or pushing him away. “So what did you do?” I asked as he leaned back, my suspicions about these kidneys being all but confirmed.
“Why, nothing of course…” He said, a slightly bewildered expression on his face. He looked as though I just asked him how to breathe. I glanced down at my phone to see if the transaction had been verified yet and he snapped his fingers like he remembered something. “Oh I must apologize!” he said, making me look up, “I forgot that you don’t play much… I simply held my breath, closed my eyes, and wished that she would just… go away.”
“You’re right… You are good at hide and seek...” I said, wishing to myself that he would just go away and hearing the familiar ding of a successful transaction sound on both of our phones as if to answer my prayers. I reached out my hand as a formality and he grabbed it and shook it vigorously. I forced a smile and stood, although what he said next made my blood nearly freeze.
“You’re the first person to find me in oh so long…” He trailed off as he said it, his voice slowly shifting from that of an exited child to the cold blooded maniac that he was. “Maybe my games won’t be so one sided from now on,” He said, his voice disturbingly normal. Although, even without looking back I could tell that the same sickeningly sweet smile was glued to his face. I kept walking but waved my arm as though saying goodbye.
The worst part was that I could feel him watching me as I walked back to my car… Not just at first, like if he was watching me leave, but the entire way back, and even as I got in my car. I took a moment to look around and sighed as I saw nothing. It might not sound like much to you. I don’t know, I can still hardly describe it myself, but he had this… creepy way of getting under your skin just by talking to you.
I wrote it off as me just being paranoid, the guy harvests organs from people for a living so of course everything he says is creepy. I groaned and started my car, but it wasn’t until I hit the freeway that I was finally able to shake the feeling of his gaze. It’s not like he could’ve been following me, by then I was already paranoid enough to be checking for that, making a few detours just to be sure of it.
And because of my detours, I ended up being about an hour past the scheduled drop off with the buyer… Lost my chance at a tip for sure, guy was furious and there was nothing I could tell him to calm him down. I’m pretty sure, ‘sorry I’m late, but the seller was a total psycho and I wanted to make sure he wasn’t following me,’ wouldn’t have been a very good excuse.
Whatever, I had my money and the buyer had his organs and plenty of time for whatever operation that used them. Not much to complain about on either side, well except for the fact that I already knew I wouldn’t be sleeping that night. Especially because the feeling of being watched had returned as soon as I set foot out of my car which was, again, impossible. The site never tells the sellers anything about the buyers or transporters, so there’s no way he could have known where I was headed to and no way that he could have followed me.
I hopped back in my car and started to head for home, hoping that a few tabs of melatonin would be enough for at least a few hours of sleep. And again, I could feel eyes on me as I drove and I saw his eerie smile everywhere until I hit the highway. I felt a weight lift off of my shoulders then, although I made sure to take the most winding path home that I could afford gas for (which was quite a bit after a job like that). By the time I did get home it was starting to get dark, and I had made a few loops around my apartment just to be sure I didn’t still feel his eyes on me.
Luckily, my apartment building has a public parking garage attached to it so even if I was being followed I felt safe enough that nobody would be able to find my room. But Just to be sure, I took the stairs for the first time in months.
Have any of you ever climbed seven flights of stairs out of paranoia before Rijento? Well in case you haven’t let me tell you what it’s like. Do you remember running up the stairs from the basement after turning off the lights as a kid? That feeling of unease and terror? Well it’s like that, but you aren’t a kid anymore. It’s not the dark or what imaginary monsters could be lurking in it that frightens you anymore. Instead, you’re worried about who could be hiding in the darkness, what real monster could be following you up those stairs… I’m no slouch when it comes to exercise but it still drained everything out of me hauling my body up those stairs on my hands and feet like an animal as fast as I could.
I got inside and locked the door securely behind me, panting, covered in sweat, but I sighed in relief with the fact that I hadn’t felt anyone watching me at all during my climb. I took a moment to catch my breath, slumping down by the door and chuckling to myself while shaking my head. I couldn’t believe that I’d let that freak get so deep under my skin.
Once I had caught my breath, I stood up and made my way to my couch before flopping onto it. I wanted nothing more than to go to sleep then and there, but I had to be smart with my money this time. I immediately cashed the Bitcoin out. Better to pay myself out in small increments, but I had bills to pay and I’d already learned my lesson about leaving things in Bitcoin.
Once business was taken care of, I grabbed the remote control and flicked on the TV. The familiar faces of the local news anchors greeted me and I began drifting off to sleep while listening to the happenings of our city.
It was around seven a.m. when I was woken up by the sound of the ‘breaking news’ alert coming on.
“We are just receiving reports of a ghastly murder of one [yeah, I’m not gonna put her name or age here] year old college student living on her own. Police investigators say that several of her organs were found to be missing and that they found evidence of someone living in her home without her knowledge for quite some time before the murder…”
The reporters kept talking about how much of a tragedy the situation was… But I wasn’t listening. How could I listen…
I’ve never been less happy to be right then I was at that moment. I shuddered thinking about it. My thoughts and paranoia regarding the man I’d met the other day bubbling back up to the surface. It was then that the reality of what I’d done hit me like a freight train. By accepting that contract I doomed that girl to die… All because I needed some quick cash.
I stood up and went to the kitchen and opened my liquor cabinet. Without looking, I grabbed a bottle of something with shaking hands and fumbled with the top while trying to keep my mind clear of thoughts. Once I had the cap off I took several deep swigs from the bottle, spilling quite a bit down my chin before I set it down and gasped for air.
The burn of the alcohol in my throat gave me something to focus on while it worked its magic on the rest of my body. As my mind slowly clouded I found my way to a chair and found it easier to think about what happened without panicking.
My first thought was that I needed to do something. I knew the guy’s face, I should go to the cops! It was at this moment that the… Less impulsive side of my brain kicked in. I go to the cops and all I do is give myself a one way ticket to an early grave. My employers don’t take kindly to police interactions.
I slowly resigned myself to the fact that I was going to have to live with the consequences of this job for the rest of my life… I’m a coward, I know.
Anyways, the next few days passed by slowly. I was… Not in a good place mentally and I’m sure you remember how much alcohol my cabinets were stocked with. I blacked out more than once only to wake up gasping for breath from drinking too much. It was honestly a miracle that I didn’t kill myself through alcohol poisoning.
But I… Managed to come to terms with everything. Don’t get me wrong, I still had nightmares where I was the guy hiding in that girls closet… But I wasn’t drinking my problems away anymore, although I think that was more because of the fact that I’d run out of liquor than any meaningful character development.
It was about a week later that I was able to get my first night of actual sleep. I didn’t dream about anything either so that was a plus. I know it probably sounds bad, but I was starting to feel normal again… Like I could maybe find a way to just be myself…
Either way, even after all that I still wanted to keep my job. I just added a new rule: no organs.
From there I fell back into more or less my old routine. I went to eat out almost every day though, I thought any excuse that got me cleaned up and out of my place was worth taking…
And then, I began to feel it again. That skin-crawling sensation of eyes on me from somewhere that I felt the day I met Mr. Hide&Seek. I didn’t think much of it at first, I only felt the eyes when I was surrounded by other people so of course one or two would be looking my way right? I thought I was just guilty and paranoid.
But no matter what I did, I would always feel like I was being watched whenever other people were around. So I started driving more and more and eating out less and less. Not driving anywhere in particular, just driving… I felt safe on the open road, I couldn’t feel any eyes on me… For about a week.
It started small. A shiver down my spine here and there. A sharp sensation that made my eyes snap to one car or another. Then it came more frequently, and I began to get more and more paranoid as the feeling became stronger and stronger.
I started driving less and less, and whenever I did, I kept my eyes on the cars around me. Trying desperately to find where that feeling was coming from. To find who was watching me… Trying to catch a glimpse of his face in a passing car.
I even thought I did see him a few times… Except that was just paranoia… I hope.
Eventually, I stopped driving unless I had to. I shut myself in my apartment, only going out to get groceries and always, always making sure that I didn’t feel anyone watching me before I parked. But that feeling would always find me whenever I went out.
This went on for about a month. I started to drink again, I didn’t go out to eat or drive anymore. I paid someone to deliver my groceries to the garage of my building. All I did was eat, sleep, drink, and watch movies or play games… I’d be living the dream, if I didn’t think a serial killer was stalking me.
Part of me believed that I was just being paranoid and to be honest I desperately wanted to believe that part of me… But not enough to stake my life on it. And after another week of living like a shut-in the feeling of being watched started to re-surface.
Like before it started off small. I felt a ping of eyes on me and from then on I kept the blinds securely closed. Even then, the feeling persisted for days, gradually gathering in strength. So I emptied out all of my closets and cabinets daily… Eventually I just left all of the doors open and everything on the floor so that I could look in to any hiding spot in an instant…
But that feeling still persisted.
I stopped drinking because I was terrified of being attacked. I started sleeping less and less and when I had to sleep, I slept inside of my closet and barred the doors shut from the inside. I ate and drank only when I felt hungry and always with my back to a corner of the room or locked in my closet… But I could still feel eyes on me, feel His eyes on me the same way I had back at the park.
It was about a month later when I finally discovered my haven. The one place left that I didn’t feel watched. The stairwell of my building. I found that whenever I went down and back up the stars to get my groceries – as I’d long since stopped using the elevator – that I would have a brief respite from the feeling of being watched.
I started to spend all of my waking hours there, sat on one of the stairs without a care in the world. I only left them to eat and sleep and whenever I entered the building proper I would feel eyes on me almost immediately. But having those stairs to return to made my life almost bearable. It had been a long time since I had anywhere I felt safe, and like every place before it I kept waiting form the feeling of being watched to follow me into the stairwell…
But it never did.
For another month, I fell into a somewhat bearable rhythm. I’d wake up in my closet feeling watched, I’d eat in the corner of my kitchen feeling watched, and then I’d scurry off to the stairwell where I could blessedly feel alone – Especially near the top floors where the stairs were seldom used.
But all good things must come to an end and all that, and while I never did feel watched in the stairs, I did run out of money. Apartments and cars don’t pay for themselves after all, and while I managed a few months on the blood money from my last job it was finally time to get back to work.
In the months since I last logged on to the site, things had calmed down significantly and there were now plenty of jobs that didn’t break any of my rules… So I decided to go with a route that I’d done before a couple of times. A gun run. The seller always treated me to a drink or two at his bar and was also always well armed so I felt that it would be a nice and easy job that I could feel safe doing.
After confirming the job I closed my laptop, pulled on a fresh set of clothing, and headed out the door. I wanted to get this over and done with, and thankfully the feeling of being watched was rather light that day. I do admit, however, that I lingered in the stairwell for a bit before heading out. I wanted a bit of time alone before being out in the open for the first time in months.
Anyways, I hopped in my car after about thirty minutes of blessed stairwell time and headed to the bar. After about two hours of paranoid and twisting driving I managed to make it just on time and pulled my car into the alleyway behind the bar.
The owner greeted me with a smile as I got out of my car, “T, long time no see!” he said, his smile fading as I walked up and he got a better look at me. “Holy shit man, are you feeling okay?” he asked, genuine worry in the eyes of the large man.
“No… I’m pretty far from okay…” I said with an exhausted sigh. I could still feel the faintest hint of eyes on me even now, though I know that the owner wouldn’t let me be jumped at his bar. “It’s a long story,” I offered, realizing for the first time that it might be nice to actually tell someone what happened.
“Is that so.” he said with a hint of a smile and a shake of his head. “Well, hows about we get you a drink while the boys get ready to load up your car.” He offered in return, making me smile. “There’s always plenty of time for stories at my bar.” He said proudly.
“I’d like that…” I said with another exhausted sigh, managing to keep the smile up as he put an arm around me and lead me in the back door of the bar.
“Oh, by the way, how did you hold up during the bitcoin crash? I heard it hit a couple of transporters pretty hard.” he said, making me chuckle as we made our way through the kitchen.
“Funny you should mention that,” I said, making him raise an eyebrow, “because that’s how my long story star—” I began, only to stop short when I looked at the bar.
HE was siting there, sipping on a beer without a care in the world. He noticed me out of the corner of his eye and that same sickeningly sweet smile crept onto his face as his eyes met mine.
I froze. There was no way that this was a coincidence. There was no way that he just happened to be at this bar at this time.
I was broken from my trance by the bar owner waving his hand in front of my face and saying my name, “Hello? T, you alright?”
I quickly ducked back into the kitchen and started to hyperventilate. How did he know? How could he possibly have known that I would be here? Did he follow me?
“Did who follow you?” The owner’s voice brought me back to reality once again as I realized I’d been thinking out loud. His face was concerned, bordering on scared.
“How long has that guy been at the bar?” I asked, hoping that the owner knew who I was talking about.
“If you mean tall, thin, and creepy then about an hour… What is going on T?” He asked, as I slumped against the wall.
I started crying. I broke down and burst back into the bar only to see that Mr. Hide&Seek he was already gone. “I… I need to go. I need to get home!” I said, pushing past the owner and running to my car. He called after me, trying to get me to stay and explain what the hell was happening but I wasn’t listening. For all I know, Mr. Hide&Seek could be breaking in to my apartment already.
I drove straight home and threw open the door to my apartment. It had still been locked, but I wasn’t taking any chances. I grabbed a knife from the kitchen and checked everywhere. But he wasn’t there.
Then, my phone rang and scared the living hell out of me. I checked the number and gulped when I saw that it was blocked. I considered not answering but in the end I picked up the call.
“H-Hello?” I asked tentatively.
“T… What the hell happened at the bar?” a modulated voice rang through the speaker in my ear, making me wince. It was one of the site admins for sure.
I was silent for a moment before telling the admin everything. I couldn’t see the man, but I could feel a sudden change when I mentioned seeing Mr. Hide&Seek at the bar.
“T,” the admin began, a serious edge to his voice. “I need you to log in to the site… _Now_” he said, and something in me told me to listen. I booted up my laptop and hopped on to the site. As soon as I logged in a dialog appeared that I’d never seen before.
ADMIN would like to take control of this computer. Do you consent to this?’ With two buttons. One for yes. One for no.
I clicked yes and watched as my cursor began to move on it’s own. “Thank you T. This will only take a moment…” the admin said, a practiced calm in his voice as he downloaded several files and began to do… Something on my laptop.
A minute later a dialog box popped up that said, ‘Threat detected!’ and the admin sighed and his voice sharpened as he spoke. “T… You’ve been compromised. You’ve had a nasty piece of spyware installed on your machine, for about a month by the looks of things. It’s been recording your keystrokes and giving someone remote access to your camera…” the admin explained, making me gulp as I realized that all of my information was insecure.
“B-but, there’s no way! I haven’t download anything!” I said, making the admin mutter something as a bout of typing could be heard coming through the phone.
The admin’s voice was cold and calculated when he spoke next. “No… No you didn’t…” he said, making me gulp. “This software was installed via _USB_…” the admin said, making my heart nearly stop.
Hide&Seek had been in my home! He had been here without me noticing and put that program on my laptop. Even after all of my paranoia, he still found his way into my room without me knowing.
“I’m going to delete the program,” the admin said, and a few keystrokes later, “done… What the—”
As the admin deleted the program, thousands of windows began popping up on the screen of my laptop. All of them saying the same thing…
‘olly olly oxen free’
After that, I threw my laptop in the trash and got a new one as well as a new phone, sim card and all. I was taking no chances. I got all new accounts for everything and the admin told me he revoked Mr. Hide&Seek’s membership personally.
But I’m going to disappear all the same, I have a plane ticket to somewhere and my bags are already packed.
Don’t look for me, and if you ever start to feel like you’re being watched… It’s because you are.
submitted by rijento to DrCreepensVault [link] [comments]

An extensive guide for cashing out bitcoin and cryptocurrencies into private banks

Hey guys.
Merry Xmas !
I am coming back to you with a follow up post, as I have helped many people cash out this year and I have streamlined the process. After my original post, I received many requests to be more specific and provide more details. I thought that after the amazing rally we have been attending over the last few months, and the volatility of the last few days, it would be interesting to revisit more extensively.
The attitude of banks around crypto is changing slowly, but it is still a tough stance. For the first partial cash out I operated around a year ago for a client, it took me months to find a bank. They wouldn’t want to even consider the case and we had to knock at each and every door. Despite all my contacts it was very difficult back in the days. This has changed now, and banks have started to open their doors, but there is a process, a set of best practices and codes one has to follow.
I often get requests from crypto guys who are very privacy-oriented, and it takes me months to have them understand that I am bound by Swiss law on banking secrecy, and I am their ally in this onboarding process. It’s funny how I have to convince people that banks are legit, while on the other side, banks ask me to show that crypto millionaires are legit. I have a solid background in both banking and in crypto so I manage to make the bridge, but yeah sometimes it is tough to reconcile the two worlds. I am a crypto enthusiast myself and I can say that after years of work in the banking industry I have grown disillusioned towards banks as well, like many of you. Still an account in a Private bank is convenient and powerful. So let’s get started.
There are two different aspects to your onboarding in a Swiss Private bank, compliance-wise.
*The origin of your crypto wealth
*Your background (residence, citizenship and probity)
These two aspects must be documented in-depth.
How to document your crypto wealth. Each new crypto millionaire has a different story. I may detail a few fun stories later in this post, but at the end of the day, most of crypto rich I have met can be categorized within the following profiles: the miner, the early adopter, the trader, the corporate entity, the black market, the libertarian/OTC buyer. The real question is how you prove your wealth is legit.
1. Context around the original amount/investment Generally speaking, your first crypto purchase may not be documented. But the context around this acquisition can be. I have had many cases where the original amount was bought through Mtgox, and no proof of purchase could be provided, nor could be documented any Mtgox claim. That’s perfectly fine. At some point Mtgox amounted 70% of the bitcoin transactions globally, and people who bought there and managed to withdraw and keep hold of their bitcoins do not have any Mtgox claim. This is absolutely fine. However, if you can show me the record of a wire from your bank to Tisbane (Mtgox's parent company) it's a great way to start.
Otherwise, what I am trying to document here is the following: I need context. If you made your first purchase by saving from summer jobs, show me a payroll. Even if it was USD 2k. If you acquired your first bitcoins from mining, show me the bills of your mining equipment from 2012 or if it was through a pool mine, give me your slushpool account ref for instance. If you were given bitcoin against a service you charged, show me an invoice.
2. Tracking your wealth until today and making sense of it. What I have been doing over the last few months was basically educating compliance officers. Thanks God, the blockchain is a global digital ledger! I have been telling my auditors and compliance officers they have the best tool at their disposal to lead a proper investigation. Whether you like it or not, your wealth can be tracked, from address to address. You may have thought all along this was a bad feature, but I am telling you, if you want to cash out, in the context of Private Banking onboarding, tracking your wealth through the block explorer is a boon. We can see the inflows, outflows. We can see the age behind an address. An early adopter who bought 1000 BTC in 2010, and let his bitcoin behind one address and held thus far is legit, whether or not he has a proof of purchase to show. That’s just common sense. My job is to explain that to the banks in a language they understand.
Let’s have a look at a few examples and how to document the few profiles I mentioned earlier.
The trader. I love traders. These are easy cases. I have a ton of respect for them. Being a trader myself in investment banks for a decade earlier in my career has taught me that controlling one’s emotions and having the discipline to impose oneself some proper risk management system is really really hard. Further, being able to avoid the exchange bankruptcy and hacks throughout crypto history is outstanding. It shows real survival instinct, or just plain blissed ignorance. In any cases traders at exchange are easy cases to corroborate since their whole track record is potentially available. Some traders I have met have automated their trading and have shown me more than 500k trades done over the span of 4 years. Obviously in this kind of scenario I don’t show everything to the bank to avoid information overload, and prefer to do some snacking here and there. My strategy is to show the early trades, the most profitable ones, explain the trading strategy and (partially expose) the situation as of now with id pages of the exchanges and current balance. Many traders have become insensitive to the risk of parking their crypto at exchange as they want to be able to trade or to grasp an occasion any minute, so they generally do not secure a substantial portion on the blockchain which tends to make me very nervous.
The early adopter. Provided that he has not mixed his coin, the early adopter or “hodler” is not a difficult case either. Who cares how you bought your first 10k btc if you bought them below 3$ ? Even if you do not have a purchase proof, I would generally manage to find ways. We just have to corroborate the original 30’000 USD investment in this case. I mainly focus on three things here:
*proof of early adoption I have managed to educate some banks on a few evidences specifically related to crypto markets. For instance with me, an old bitcointalk account can serve as a proof of early adoption. Even an old reddit post from a few years ago where you say how much you despise this Ripple premined scam can prove to be a treasure readily available to show you were early.
*story telling Compliance officers like to know when, why and how. They are human being looking for simple answers to simple questions and they don’t want like to be played fool. Telling the truth, even without a proof can do wonders, and even though bluffing might still work because banks don’t fully understand bitcoin yet, it is a risky strategy that is less and less likely to pay off as they are getting more sophisticated by the day.
*micro transaction from an old address you control This is the killer feature. Send a $20 worth transaction from an old address to my company wallet and to one of my partner bank’s wallet and you are all set ! This is gold and considered a very solid piece of evidence. You can also do a microtransaction to your own wallet, but banks generally prefer transfer to their own wallet. Patience with them please. they are still learning.
*signature message Why do a micro transaction when you can sign a message and avoid potentially tainting your coins ?
*ICO millionaire Some clients made their wealth participating in ETH crowdsale or IOTA ICO. They were very easy to deal with obviously and the account opening was very smooth since we could evidence the GENESIS TxHash flow.
The miner Not so easy to proof the wealth is legit in that case. Most early miners never took screenshot of the blocks on bitcoin core, nor did they note down the block number of each block they mined. Until the the Slashdot article from August 2010 anyone could mine on his laptop, let his computer run overnight and wake up to a freshly minted block containing 50 bitcoins back in the days. Not many people were structured enough to store and secure these coins, avoid malwares while syncing the blockchain continuously, let alone document the mined blocks in the process. What was 50 BTC worth really for the early miners ? dust of dollars, games and magic cards… Even miners post 2010 are generally difficult to deal with in terms of compliance onboarding. Many pool mining are long dead. Deepbit is down for instance and the founders are MIA. So my strategy to proof mining activity is as follow:
*Focusing on IT background whenever possible. An IT background does help a lot to bring some substance to the fact you had the technical ability to operate a mining rig.
*Showing mining equipment receipts. If you mined on your own you must have bought the hardware to do so. For instance mining equipment receipts from butterfly lab from 2012-2013 could help document your case. Similarly, high electricity bill from your household on a consistent basis back in the day could help. I have already unlocked a tricky case in the past with such documents when the bank was doubtful.
*Wallet.dat files with block mining transactions from 2011 thereafter This obviously is a fantastic piece of evidence for both you and me if you have an old wallet and if you control an address that received original mined blocks, (even if the wallet is now empty). I will make sure compliance officers understand what it means, and as for the early adopter, you can prove your control over these wallet through a microtransaction. With these kind of addresses, I can show on the block explorer the mined block rewards hitting at regular time interval, and I can even spot when difficulty level increased or when halvening process happened.
*Poolmining account. Here again I have educated my partner bank to understand that a slush account opened in 2013 or an OnionTip presence was enough to corroborate mining activity. The block explorer then helps me to do the bridge with your current wallet.
*Describing your set up and putting it in context In the history of mining we had CPU, GPU, FPG and ASICs mining. I will describe your technical set up and explain why and how your set up was competitive at that time.
The corporate entity Remember 2012 when we were all convinced bitcoin would take over the world, and soon everyone would pay his coffee in bitcoin? How naïve we were to think transaction fees would remain low forever. I don’t blame bitcoin cash supporters; I once shared this dream as well. Remember when we thought global adoption was right around the corner and some brick and mortar would soon accept bitcoin transaction as a common mean of payment? Well, some shop actually did accept payment and held. I had a few cases as such of shops holders, who made it to the multi million mark holding and had invoices or receipts to proof the transactions. If you are organized enough to keep a record for these trades and are willing to cooperate for the documentation, you are making your life easy. The digital advertising business is also a big market for the bitcoin industry, and affiliates partner compensated in btc are common. It is good to show an invoice, it is better to show a contract. If you do not have a contract (which is common since all advertising deals are about ticking a check box on the website to accept terms and conditions), there are ways around that. If you are in that case, pm me.
The black market Sorry guys, I can’t do much for you officially. Not that I am judging you. I am a libertarian myself. It’s just already very difficult to onboard legit btc adopters, so the black market is a market I cannot afford to consider. My company is regulated so KYC and compliance are key for me if I want to stay in business. Behind each case I push forward I am risking the credibility and reputation I have built over the years. So I am sorry guys I am not risking it to make an extra buck. Your best hope is that crypto will eventually take over the world and you won’t need to cash out anyway. Or go find a Lithuanian bank that is light on compliance and cooperative.
The OTC buyer and the libertarian. Generally a very difficult case. If you bought your stack during your journey in Japan 5 years ago to a guy you never met again; or if you accumulated on https://localbitcoins.com/ and kept no record or lost your account, it is going to be difficult. Not impossible but difficult. We will try to build a case with everything else we have, and I may be able to onboard you. However I am risking a lot here so I need to be 100% confident you are legit, before I defend you. Come & see me in Geneva, and we will talk. I will run forensic services like elliptic, chainalysis, or scorechain on an extract of your wallet. If this scan does not raise too many red flags, then maybe we can work together ! If you mixed your coins all along your crypto history, and shredded your seeds because you were paranoid, or if you made your wealth mining professionally monero over the last 3 years but never opened an account at an exchange. ¯_(ツ)_/¯ I am not a magician and don’t get me wrong, I love monero, it’s not the point.
Cashing out ICOs Private companies or foundations who have ran an ICO generally have a very hard time opening a bank account. The few banks that accept such projects would generally look at 4 criteria:
*Seriousness of the project Extensive study of the whitepaper to limit the reputation risk
*AML of the onboarding process ICOs 1.0 have no chance basically if a background check of the investors has not been conducted
*Structure of the moral entity List of signatories, certificate of incumbency, work contract, premises...
*Fiscal conformity Did the company informed the authorities and seek a fiscal ruling.
For the record, I am not into the tax avoidance business, so people come to me with a set up and I see if I can make it work within the legal framework imposed to me.
First, stop thinking Switzerland is a “offshore heaven” Swiss banks have made deals with many governments for the exchange of fiscal information. If you are a French citizen, resident in France and want to open an account in a Private Bank in Switzerland to cash out your bitcoins, you will get slaughtered (>60%). There are ways around that, and I could refer you to good tax specialists for fiscal optimization, but I cannot organize it myself. It would be illegal for me. Swiss private banks makes it easy for you to keep a good your relation with your retail bank and continue paying your bills without headaches. They are integrated to SEPA, provide ebanking and credit cards.
For information, these are the kind of set up some of my clients came up with. It’s all legal; obviously I do not onboard clients that are not tax compliant. Further disclaimer: I did not contribute myself to these set up. Do not ask me to organize it for you. I won’t.
EU tricks
Swiss lump sum taxation Foreign nationals resident in Switzerland can be taxed on a lump-sum basis if they are not gainfully employed in our country. Under the lump-sum tax regime, foreign nationals taking residence in Switzerland may choose to pay an expense-based tax instead of ordinary income and wealth tax. Attractive cantons for the lump sum taxation are Zug, Vaud, Valais, Grisons, Lucerne and Berne. To make it short, you will be paying somewhere between 200 and 400k a year and all expenses will be deductible.
Switzerland has adopted a very friendly attitude towards crypto currency in general. There is a whole crypto valley in Zug now. 30% of ICOs are operated in Switzerland. The reason is that Switzerland has thrived for centuries on banking secrecy, and today with FATCA and exchange of fiscal info with EU, banking secrecy is dead. Regulators in Switzerland have understood that digital ledger technologies were a way to roll over this competitive advantage for the generations to come. Switzerland does not tax capital gains on crypto profits. The Finma has a very pragmatic approach. They have issued guidance- updated guidelines here. They let the business get organized and operate their analysis on a case per case basis. Only after getting a deep understanding of the market will they issue a global fintech license in 2019. This approach is much more realistic than legislations which try to regulate everything beforehand.
Italy new tax exemption. It’s a brand new fiscal exemption. Go to Aoste, get residency and you could be taxed a 100k/year for 10years. Yes, really.
Portugal What’s crazy in Europe is the lack of fiscal harmonization. Even if no one in Brussels dares admit it, every other country is doing fiscal dumping. Portugal is such a country and has proved very friendly fiscally speaking. I personally have a hard time trusting Europe. I have witnessed what happened in Greece over the last few years. Some of our ultra high net worth clients got stuck with capital controls. I mean no way you got out of crypto to have your funds confiscated at the next financial crisis! Anyway. FYI
Malta Generally speaking, if you get a residence somewhere you have to live there for a certain period of time. Being stuck in Italy is no big deal with Schengen Agreement, but in Malta it is a different story. In Malta, the ordinary residence scheme is more attractive than the HNWI residence scheme. Being an individual, you can hold a residence permit under this scheme and pay zero income tax in Malta in a completely legal way.
Monaco Not suitable for French citizens, but for other Ultra High Net worth individual, Monaco is worth considering. You need an account at a local bank as a proof of fortune, and this account generally has to be seeded with at least EUR500k. You also need a proof of residence. I do mean UHNI because if you don’t cash out minimum 30m it’s not interesting. Everything is expensive in Monaco. Real Estate is EUR 50k per square meter. A breakfast at Monte Carlo Bay hotel is 70 EUR. Monaco is sunny but sometimes it feels like a golden jail. Do you really want that for your kids?
Dubaï
  1. Set up a company in Dubaï, get your resident card.
  2. Spend one day every 6 month there
  3. ???
  4. Be tax free
US tricks Some Private banks in Geneva do have the license to manage the assets of US persons and U.S citizens. However, do not think it is a way to avoid paying taxes in the US. Opening an account at an authorized Swiss Private banks is literally the same tax-wise as opening an account at Fidelity or at Bank of America in the US. The only difference is that you will avoid all the horror stories. Horror stories are all real by the way. In Switzerland, if you build a decent case and answer all the questions and corroborate your case in depth, you will manage to convince compliance officers beforehand. When the money eventually hits your account, it is actually available and not frozen.
The IRS and FATCA require to file FBAR if an offshore account is open. However FBAR is a reporting requirement and does not have taxes related to holding an account outside the US. The taxes would be the same if the account was in the US. However penalties for non compliance with FBAR are very large. The tax liability management is actually performed through the management of the assets ( for exemple by maximizing long term capital gains and minimizing short term gains).
The case for Porto Rico. Full disclaimer here. I am not encouraging this. Have not collaborated on such tax avoidance schemes. if you are interested I strongly encourage you to seek a tax advisor and get a legal opinion. I am not responsible for anything written below. I am not going to say much because I am so afraid of uncle Sam that I prefer to humbly pass the hot potato to pwc From here all it takes is a good advisor and some creativity to be tax free on your crypto wealth if you are a US person apparently. Please, please please don’t ask me more. And read the disclaimer again.
Trust tricks Generally speaking I do not accept fringe fiscal situation because it puts me in a difficult situation to the banks I work with, and it is already difficult enough to defend a legit crypto case. Trust might be a way to optimize your fiscal situation. Belize. Bahamas. Seychelles. Panama, You name it. At the end of the day, what matters for Swiss Banks are the beneficial owner and the settlor. Get a legal opinion, get it done, and when you eventually knock at a private bank’s door, don’t say it was for fiscal avoidance you stupid ! You will get the door smashed upon you. Be smarter. It will work. My advice is just to have it done by a great tax specialist lawyer, even if it costs you some money, as the entity itself needs to be structured in a professional way. Remember that with trust you are dispossessing yourself off your wealth. Not something to be taken lightly.
“Anonymous” cash out. Right. I think I am not going into this topic, neither expose the ways to get it done. Pm me for details. I already feel a bit uncomfortable with all the info I have provided. I am just going to mention many people fear that crypto exchange might become reporting entities soon, and rightly so. This might happen anyday. You have been warned. FYI, this only works for non-US and large cash out.
The difference between traders an investors. Danmark, Holland and Germany all make a huge difference if you are a passive investor or if you are a trader. ICO is considered investing for instance and is not taxed, while trading might be considered as income and charged aggressively. I would try my best to protect you and put a focus on your investor profile whenever possible, so you don't have to pay 52% tax if you do not have to :D
Full cash out or partial cash out? People who have been sitting on crypto for long have grown an emotional and irrational link with their coins. They come to me and say, look, I have 50m in crypto but I would like to cash out 500k only. So first let me tell you that as a wealth manager my advice to you is to take some off the table. Doing a partial cash out is absolutely fine. The market is bullish. We are witnessing a redistribution of wealth at a global scale. Bitcoin is the real #occupywallstreet, and every one will discuss crypto at Xmas eve which will make the market even more supportive beginning 2018, especially with all hedge funds entering the scene. If you want to stay exposed to bitcoin and altcoins, and believe these techs will change the world, it’s just natural you want to keep some coins. In the meantime, if you have lived off pizzas over the last years, and have the means to now buy yourself an nice house and have an account at a private bank, then f***ing do it mate ! Buy physical gold with this account, buy real estate, have some cash at hands. Even though US dollar is worthless to your eyes, it’s good and convenient to have some. Also remember your wife deserves it ! And if you have no wife yet and you are socially awkward like the rest of us, then maybe cashing out partially will help your situation ;)
What the Private Banks expect. Joke aside, it is important you understand something. If you come around in Zurich to open a bank account and partially cash out, just don’t expect Private Banks will make an exception for you if you are small. You can’t ask them to facilitate your cash out, buy a 1m apartment with the proceeds of the sale, and not leave anything on your current account. It won’t work. Sadly, under 5m you are considered small in private banking. The bank is ok to let you open an account, provided that your kyc and compliance file are validated, but they will also want you to become a client and leave some money there to invest. This might me despicable, but I am just explaining you their rules. If you want to cash out, you should sell enough to be comfortable and have some left. Also expect the account opening to last at least 3-4 week if everything goes well. You can't just open an account overnight.
The cash out logistics. Cashing out 1m USD a day in bitcoin or more is not so hard.
Let me just tell you this: Even if you get a Tier 4 account with Kraken and ask Alejandro there to raise your limit over $100k per day, Even if you have a bitfinex account and you are willing to expose your wealth there, Even if you have managed to pass all the crazy due diligence at Bitstamp,
The amount should be fractioned to avoid risking your full wealth on exchange and getting slaughtered on the price by trading big quantities. Cashing out involves significant risks at all time. There is a security risk of compromising your keys, a counterparty risk, a fat finger risk. Let it be done by professionals. It is worth every single penny.
Most importantly, there is a major difference between trading on an exchange and trading OTC. Even though it’s not publicly disclosed some exchange like Kraken do have OTC desks. Trading on an exchange for a large amount will weight on the prices. Bitcoin is a thin market. In my opinion over 30% of the coins are lost in translation forever. Selling $10m on an exchange in a day can weight on the prices more than you’d think. And if you trade on a exchange, everything is shown on record, and you might wipe out the prices because on exchanges like bitstamp or kraken ultimately your counterparties are retail investors and the market depth is not huge. It is a bit better on Bitfinex. It is way better to trade OTC. Accessing the institutional OTC market is not easy, and that is also the reason why you should ask a regulated financial intermediary if we are talking about huge amounts.
Last point, always chose EUR as opposed to USD. EU correspondent banks won’t generally block institutional amounts. However we had the cases of USD funds frozen or delayed by weeks.
Most well-known OTC desks are Cumberlandmining (ask for Lucas), Genesis (ask for Martin), Bitcoin Suisse AG (ask for Niklas), circletrade, B2C2, or Altcoinomy (ask for Olivier)
Very very large whales can also set up escrow accounts for massive block trades. This world, where blocks over 30k BTC are exchanged between 2 parties would deserve a reddit thread of its own. Crazyness all around.
Your options: DIY or going through a regulated financial intermediary.
Execution trading is a job in itself. You have to be patient, be careful not to wipe out the order book and place limit orders, monitor the market intraday for spikes or opportunities. At big levels, for a large cash out that may take weeks, these kind of details will save you hundred thousands of dollars. I understand crypto holders are suspicious and may prefer to do it by themselves, but there are regulated entities who now offer the services. Besides, being a crypto millionaire is not a guarantee you will get institutional daily withdrawal limits at exchange. You might, but it will take you another round of KYC with them, and surprisingly this round might be even more aggressive that the ones at Private banks since exchange have gone under intense scrutiny by regulators lately.
The fees for cashing out through a regulated financial intermediary to help you with your cash out should be around 1-2% flat on the nominal, not more. And for this price you should get the full package: execution/monitoring of the trades AND onboarding in a private bank. If you are asked more, you are being abused.
Of course, you also have the option to do it yourself. It is a way more tedious and risky process. Compliance with the exchange, compliance with the private bank, trading BTC/fiat, monitoring the transfers…You will save some money but it will take you some time and stress. Further, if you approach a private bank directly, it will trigger a series of red flag to the banks. As I said in my previous post, they call a direct approach a “walk-in”. They will be more suspicious than if you were introduced by someone and won’t hesitate to show you high fees and load your portfolio with in-house products that earn more money to the banks than to you. Remember also most banks still do not understand crypto so you will have a lot of explanations to provide and you will have to start form scratch with them!
The paradox of crypto millionaires Most of my clients who made their wealth through crypto all took massive amount of risks to end up where they are. However, most of them want their bank account to be managed with a low volatility fixed income capital preservation risk profile. This is a paradox I have a hard time to explain and I think it is mainly due to the fact that most are distrustful towards banks and financial markets in general. Many clients who have sold their crypto also have a cash-out blues in the first few months. This is a classic situation. The emotions involved in hodling for so long, the relief that everything has eventually gone well, the life-changing dynamics, the difficulties to find a new motivation in life…All these elements may trigger a post cash-out depression. It is another paradox of the crypto rich who has every card in his hand to be happy, but often feel a bit sad and lonely. Sometimes, even though it’s not my job, I had to do some psychological support. A lot of clients have also become my friends, because we have the same age and went through the same “ordeal”. First world problem I know… Remember, cashing out is not the end. It’s actually the beginning. Don’t look back, don’t regret. Cash out partially, because it does not make sense to cash out in full, regret it and want back in. relax.
The race to cash out crypto billionaire and the concept of late exiter. The Winklevoss brothers are obviously the first of a series. There will be crypto billionaires. Many of them. At a certain level you can have a whole family office working for you to manage your assets and take care of your needs . However, let me tell you it’s is not because you made it so big that you should think you are a genius and know everything better than anyone. You should hire professionals to help you. Managing assets require some education around the investment vehicles and risk management strategies. Sorry guys but with all the respect I have for wallstreebet, AMD and YOLO stock picking, some discipline is necessary. The investors who have made money through crypto are generally early adopters. However I have started to see another profile popping up. They are not early adopters. They are late exiters. It is another way but just as efficient. Last week I met the first crypto millionaire I know who first bough bitcoin over 1000$. 55k invested at the beginning of this year. Late adopter & late exiter is a route that can lead to the million.
Last remarks. I know banks, bankers, and FIAT currencies are so last century. I know some of you despise them and would like to have them burn to the ground. With compliance officers taking over the business, I would like to start the fire myself sometimes. I hope this extensive guide has helped some of you. I am around if you need more details. I love my job despite all my frustration towards the banking industry because it makes me meet interesting people on a daily basis. I am a crypto enthusiast myself, and I do think this tech is here to stay and will change the world. Banks will have to adapt big time. Things have started to change already; they understand the threat is real. I can feel the generational gap in Geneva, with all these old bankers who don’t get what’s going on. They glaze at the bitcoin chart on CNBC in disbelief and they start to get it. This bitcoin thing is not a joke. Deep inside, as an early adopter who also intends to be a late exiter, as a libertarian myself, it makes me smile with satisfaction.
Cheers. @swisspb on telegram
submitted by Swissprivatebanker to Bitcoin [link] [comments]

Removed comments/submissions for /u/jigaxx

Hi jigaxx, you're not shadowbanned, but 37 of your most recent 90 comments/submissions were removed. They may be removed automatically by spam filters and not necessarily by human moderators.
Comment (1pts) in CryptoCurrency, "Daily Discussion Megathread - August 10, 2018", (10 Aug 18):
Indeed, they are telling me that my eos tokens are worthless now because I didn't register my tokens on time. I was one of the really early investors on their platform. All gone just like that. What a...
Comment (1pts) in SnowDividends, "Exit scam?", (01 Aug 18):
Thanks! You're the man.
Comment (1pts) in SnowDividends, "Exit scam?", (01 Aug 18):
Yep, looks like it
Comment (1pts) in garlicoin, "Forgive me for I have killed somany garlic.", (20 Jul 18):
Hey friend, no worries. I'll give you the 761 garlic if you tell me how you're going to back them up.
Comment (1pts) in CryptoCurrency, "Daily Discussion Megathread - July 17, 2018", (18 Jul 18):
I've been sucker punched too many times by pumps like these. I'm staying skeptical for now.
Comment (1pts) in CryptoCurrency, "Daily Discussion Megathread - July 11, 2018", (11 Jul 18):
What a fucking nightmare!
Comment (1pts) in CryptoCurrency, "Daily Discussion Megathread - June 22, 2018", (23 Jun 18):
Oh yeah. Sit down and let me tell you a story about the bearwhale fight at $300
Comment (1pts) in CryptoCurrency, "Daily Discussion Megathread - June 12, 2018", (13 Jun 18):
I know, it feels like the downtrend from early 2014 but this one feels waay worse and artificial. Almost like everyone is being waterboarded.
Comment (1pts) in nanocurrency, "feels like it's the same with Nano..", (10 Apr 18):
RemindMe! 3 Years
Comment (1pts) in CryptoCurrency, "List of dividend-paying cryptos", (06 Nov 17):
COSS and Kucoin
Comment (1pts) in CryptoCurrency, "Anything similar to tether?", (16 Jul 17):
Nubits
Comment (1pts) in videos, "When a male gymnastic coach tries uneven bars.", (20 Dec 14):
10
Comment (1pts) in Bitcoin, "I love this man: If you've never heard of Bitcoin, "get...", (09 Dec 14):
Right, that enthusiasm. He even forgot to take a puff puff from his weed and the thing went out.
Comment (1pts) in explainlikeimfive, "ELI5: What is the best way/position for humans to sleep? It...", (21 Nov 14):
Lean on the wall.
Comment (1pts) in dogecoin, "The Count Down to the Biggest storm in Doge History has...", (09 Nov 14):
Battle Creek here
Comment (1pts) in Music, "What was the last actual compact disc (not download) you...", (08 Nov 14):
50 cent - Get Rich Or Die Tryin. Year: 2003.
Comment (1pts) in dogecoin, "Doges of the world! [OC!]", (11 Oct 14):
Africa?
Comment (1pts) in dogecoin, "Dear whales leaving our currency...", (08 Aug 14):
Whales? More like bottom feeders. They get higher profit margins when the prices are low but now I think they've realized the consequences of pressuring the prices towards the bottom. Miners are findi...
Comment (1pts) in dogecoin, "I guess we might see bitcoin race against dogecoin...", (25 Jul 14):
Seal of approval. It means our community is highly regarded by BTC. This imitation is flattering.
Comment (1pts) in dogecoin, "First they ignore you, then they laugh at you, then they...", (16 Jul 14):
First they ignore you, then they laugh at you, then they fight you, then you wow!
Comment (1pts) in flappycoin, "FlappyCoin Qt Wallet 2.0.0 released", (23 Mar 14):
Hello dev. Please follow the instructions from the link below to fix the "libgcc_s_dw2-1.dll" issue: http://stackoverflow.com/questions/4702732/the-program-cant-start-because-libgcc-s-dw2-1-dll-is-mis...
Comment (1pts) in flappycoin, "I will buy 1 million flaps for 300 doge.", (22 Mar 14):
1 dogecoin = about 123 satoshis
1 flappycoin = 1 satoshi (at current market price)
300 dogecoin = 300 X 123 (which comes out to about 36,900 flappycoin)
Your 300 Doge will get you 36,900 flappy. Wh...
Comment (1pts) in flappycoin, "Stop selling You %@[email protected]", (16 Mar 14):
He's talking about the dipshits selling so low and pilling a huge sell wall and crippling the coin.
Comment (1pts) in flappycoin, "Lets bring up the value of Flappycoin!!!!!!", (05 Mar 14):
Check out Flappy Party. It is a Flappy Bird gambling ring using bitcoin. If we could get them to accept Flappycoin, it will increase our transaction volume.
Comment (1pts) in dogecoin, "Want Coinkite to accept Dogecoin? First to ฿25 wins!", (14 Feb 14):
Did Bitcoin and Litecoin have to pay to be included? If the answer is no, then we shouldn't have to either.
Comment (1pts) in science, "Be Happier: Spend More Money on Others " ... Psychologists...", (06 Feb 14):
I think this phenomenon is happening on a massive scale at /dogecoin
Comment (1pts) in dogecoin, "I love you all my dear shibes <3 :)", (01 Feb 14):
Am I welcome too?
Comment (1pts) in dogecoin, "a few people asked for an sms tipbot so i made one", (27 Jan 14):
Behold, we are witnessing the birth of a killer app.
Comment (1pts) in dogecoin, "a few people asked for an sms tipbot so i made one", (27 Jan 14):
I am not sure if anyone really understands the gravity of this. This is going to be similar to how the M-Pesa system revolutionized finance in East Africa.
Comment (1pts) in dogecoin, "a few people asked for an sms tipbot so i made one", (27 Jan 14):
Tanzania (+255)
Comment (1pts) in dogecoin, "Just found our ticket to the moon", (22 Jan 14):
Yes yes yes! Shut up and take my doge.
Comment (1pts) in dogecoin, "Just wanted everyone to see this link showing our progress...", (20 Jan 14):
Just donated, hope too see them at the Olympics. It would be nice if they could somehow promote dogecoin at the olympics.
Comment (1pts) in explainlikeimfive, "ELI5: Whats the difference between () [] and {} ?", (07 Dec 13):
public class HelloReddit { public static void main(String[] args) { System.out.println("[The] Magic bean store (where my buddy Jerry used to work until he ate too much merchandise: {beans, ornamental ...
Comment (1pts) in gifs, "Downhill longboarding.", (05 Nov 13):
Claremont is another great video
Comment (1pts) in videos, ["Russell Brand Hilariously Embarrases Morning Show H
submitted by MarkdownShadowBot to CommentRemovalChecker [link] [comments]

[DISCORD CONV.] Can't help falling in love with IF

5/2
David Sønstebø - Today at 2:33 AM @Dusty Word, world leading companies on boarded weekly, cutting edge tech being released monthly, top talent hired bi-daily. IOTA is moving so fucking slow
David Sønstebø - Today at 2:39 AM I am refurbishing and renovating my whole house atm. and even just basic shit like painting a room where you know exactly the square meters, how much paint you need, you know exactly how much floor you need etc.
David Sønstebø - Today at 2:39 AM You can time it in your head, but reality will kick in and some uncertain variable will cause a delay
David Sønstebø - Today at 2:40 AM I was mounting my TV on my wall the other day and had the screws necessary, but they were 1 ( !!!! ) cm too short, which postponed it a whole day
Bambiota - Today at 5:26 AM When AMA?
leechi - Today at 5:26 AM david, can fake people stop real shit?
David Sønstebø - Today at 5:27 AM @Bambiota AMA will come in May, but there's sooo much lined up, so we want to get a few big announcements (including Ecosystem) out before, so everyone has some meat to tenderize for the Q&A @leechi Only temporary.
Apache Sidewinder 🚁 - Today at 5:26 AM David what's your favourite Guns N Roses song?
David Sønstebø - Today at 5:27 AM @Apache Sidewinder 🚁 Hmmm, good question. Probably Slash's guitar solo in Estranged
5/3
travel! - Today at 2:47 AM @David Sønstebø , is MOBI the only few « big » announcement before AMA ?
David Sønstebø - Today at 2:48 AM no....
David Sønstebø - Today at 3:19 AM With CRISPR gene-data traded securely over Tangle will become a reality
David Sønstebø - Today at 3:24 AM The thing is, once you get all of these meta-telematics data secured, you can sell them to other producers, including the gene fenotype, so they can reproduce the yield and quality The data will be very valuable
David Sønstebø - Today at 3:28 AM @yoda beautiful, agritech is high on the IOTA agenda
Hapa Haole - Today at 3:41 AM @David Sønstebø Since one of IOTA's strong points is Data integrity with sensors etc, are you guys receiving any backlash from companies that...like to lie and don't want to be invovled in that since a lot of big companies are corrupt lol?
David Sønstebø - Today at 3:42 AM @Hapa Haole Nah, I get the question though. However, this is a reality that is coming whether the entity likes it or not, by opting out you make yourself the target of suspicion
t00k - Today at 3:43 AM @David Sønstebø Okay if I PM you about a company in Sweden? Worked there before and have some connections left.. Want to set up something.. Or talk to someone else?
David Sønstebø - Today at 3:44 AM @t00k that'd be nice, we got some shit going in Sweden as you know (hint hint eKrone)
not batman - Today at 3:44 AM @David Sønstebø seriously? the swedish national crypto?
David Sønstebø - Today at 3:46 AM @not batman Actually it's good, it gives me TV and sound I can't provide any official update on eKrone yet, just that it's still ongoing
Alebu - Today at 3:54 AM David are there plans for an IF office in Switzerland?
David Sønstebø - Today at 3:54 AM @Alebu Not right now. Oliver Bussmann being president of Crypto Valley there and being part of IF is sufficient for now
matin619c - Today at 3:58 AM @David Sønstebø The United Arab Emirates (UAE) has launched a ‘UAE Blockchain Strategy 2021’, aiming to conduct 50% of government transactions at the federal level using blockchain technology by 2021. Great to see today IOTA as part of MOBI initiative announcement at Future Blockchain Summit in Dubai. Appreciate if IOTA is made available on BitOasis exchange - the only reliable exchange in Middle East for United Arab Emirates, Saudi Arabia, Kuwait, Bahrain, and Oman to enter with fiat.
David Sønstebø - Today at 4:00 AM @matin619c you got a connect? We don't tend to reach out to exchanges, we leave it up to them
Sebastian - Today at 4:03 AM @David Sønstebø How is the audit of the wallet progressing
David Sønstebø - Today at 4:03 AM @Sebastian Very well
northernwhale Sidewinder - Today at 4:27 AM @David Sønstebø David! Do you have plans to change the iota logo at all ? I'm thinking of making something that will cost a fair amount from my pocket and want it to age well. Nda response is fine too x
David Sønstebø - Today at 4:28 AM @northernwhale Sidewinder I think the IOTA logo is already timeless. I see no reason for changing it.
w4lker - Today at 4:31 AM Anyone knows who came up with the design for the iota logo?
David Sønstebø - Today at 4:43 AM @w4lker me and another designer
5/4
Bernie Sanders - Yesterday at 11:25 PM Is there any plan for a laymans write up of how Q works, I think it would help a lot. Because right now Qubic is just a list of stuff that was on the roadmap
David Sønstebø - Yesterday at 11:26 PM @Bernie Sanders Wait until the date, then all of these things will come, yes
timvanhelsdingen - Yesterday at 11:26 PM there is a lot of EUUSD stuff in teaser, seems like the “after Q you dont need to go into fiat” wasn’t a joke
Eric Hop - Today at 1:22 AM Remember Star Trek? Q was omnipotent!
Qgelfisch - Today at 1:35 AM @Come-from-Beyond why smart contracts still in progress on your twitter bio?:
Come-from-Beyond - Today at 1:36 AM That text will be changed by a qubic
Eric Hop - Today at 1:37 AM Every day is a good day when you can work at IOTA
Come-from-Beyond - Today at 1:37 AM [is today a good day?] that kind of questions will be answered by Qubic oracles [Will IOTA's smart contracts be as powerful as Ethereum's smart contracts?] no much more powerful :
Eric Hop - Today at 1:38 AM Since when are ETH contracts smart?
Eric Hop - Today at 1:41 AM Can't airdrop what has already been distributed completely Our vision for IOTA is that everything and everyone uses IOTA as preferred coin. It's silly to build on top of IOTA and not use the built-in fee-less token.
CryptoSufi - Today at 1:44 AM So computational work is valued in iota
Eric Hop - Today at 1:45 AM Everything is. Why would you want to deal with exchange rates?
Eric Hop - Today at 1:52 AM In 30 days you will be able to come up with your own use cases. Qubic will be yet another tool for the community to come up with awesome solutions like IOTA, Flash, MAM, etc.
Come-from-Beyond - Today at 2:33 AM [wee gonna be rich] i doubt, most will sell at 1/10 of the real price
Come-from-Beyond - Today at 6:46 AM [Asia waking up?] No, it's just people expecting that Asia is waking up. Wait for real Asia.
Eric Hop - Yesterday at 2:01 AM Read David's announcement text if you want food for speculation.
Eric Hop - Yesterday at 3:49 AM https://medium.com/bethereum/how-oracles-connect-smart-contracts-to-the-real-world-a56d3ed6a507 ETH based but the general sentiment is the same
MrWiggles - Yesterday at 4:50 AM I thought iota is for interoperability, not for killing other Coins
Eric Hop - Yesterday at 5:03 AM It's called collateral damage. Or desired side effects
Eric Hop - Yesterday at 5:19 AM @Mark Thanks. Like I said it was hard to contain our excitement and not fuel the hype constantly knowing that the hype did not do it justice. We haven't even begun to explore the possibilities that Qubic will open the community up to yet. There will be killer apps that no one have even thought of yet. I expect a similar organic growth like happened with the Internet and such. It's like crypto all over again. Provide people with a new toy/tool and see what they come up with. Just as long as it's not ICO- or kitten-based
Eric Hop - Yesterday at 5:36 AM I never speculate on price. The only thing that seems sure is that price will go up. Demand for iotas will start driving the price at some point.
Eric Hop - Yesterday at 5:37 AM Price is nice. But it's about the new tech and what that enables us to do for humanity. Wouldn't it be nice to decentralize the shit out of conglomerats, banks, and government?
Eric Hop - Yesterday at 5:41 AM Like I said. It was hard to balance the excitement with not wanting to fuel the hype
Eric Hop - Yesterday at 5:42 AM And actually, nothing has changed in that regard. You guys will now speculate wildly with the limited new information and already I've seen outlandishly off ideas, and some people get really close.
eremal - Yesterday at 5:47 AM Yeah pretty much, but temperature sensors over an area as big a city might be a challenge. Im thinking more of how the overlaying consensus mechanism of the Tangle is that a transaction is confirmed when all nodes on the network has verified it indirectly or directly. The verification is done by each node checking their ledger if the transaction is possible or allowed. Now imagine a set of nodes having a sensor that tells them wether info X is true or not. And then you collect all these nodes into a consensus structure. You ask these nodes if X is true by issuing a transaction, and once all these nodes has confirmed it you can be positive that it is true
Eric Hop - Yesterday at 5:49 AM See? You have been thinking about this already! You're pretty much describing Oracles (the sensors, that post real-world info) and a smart contract that integrates the data into a result.
Eric Hop - Yesterday at 6:10 AM @shieeet The fact that you have thought about this should be a hint that other people may have done it as well. Especially the people trying to make this happen. That being said, I always love this kind of input, because there is no guarantee we haven't overlooked problem areas. We're as human as anyone else and make mistakes. So by all means keep throwing stuff like this towards us and we'll incorporate it into our solutions. There are a bunch of developments underway to lower the bar for participating in the network, and to come up with great incentives to participate. The problems are very visible. The solutions will take time to test and implement. This is an organigc process that will take time. Look at what Bitcoin had to overcome and after all these years it has hardly progressed beyond a speculation vehicle. In fact it has lost terrain as a payment system due to the fees. Now everyone in that space it trying to solve that problem. We see similar things happening with IOTA. We removed certain blockchain limittions by designing a completely new system, but that one of course has its own new limitations. One that everyone is going to bump into is network bandwidth for example.
Pitbullworkout - Yesterday at 6:17 AM @Eric Hop you've said a couple of times to read between the lines in David's announcement. I'm guessing JINN and possibly a third advisor to IF from large chip manufacturer?
Eric Hop - Yesterday at 6:17 AM We cannot reveal more at the moment, or we would have. We will reveal when we are ready to. Which is planned for June. But we also wanted to give you guys at least soemthing for the time being. Hence this teaser announcement.
Eric Hop - Yesterday at 6:19 AM We know from past experience that any news in crypto is short-lived. Tomorrow could bring another FUD article. We are not focused on that. We are focusing on getting shit done. And we want the community to share our excitement.
Eric Hop - Yesterday at 6:23 AM If you know your token value will multiply due to what you're building anyway, would you be selling right now? We don't need to pump the price. Once IOTA takes off demand for tokens will skyrocket. So we focus on making sure IOTA takes off.
Eric Hop - Yesterday at 6:27 AM Here is another instance of where you could solve a perceived problem as a community member. Just start thinking out of the can't-do-timestamps box and come up with a solution that makes timestamps a reality or unnecessary.
Eric Hop - Yesterday at 6:29 AM In my experience, saying 'this can't be done' you are always right. You won't be able to do it. And then someone who does not say that line comes along and does it anyway.
ZenJourney - Yesterday at 7:46 AM As someone working in a analytics, how can I prepare best to fully utilize Q?
paul douglas - Yesterday at 7:59 AM I probably can't say about how to prepare without violating the hush policy
Eric Hop - Yesterday at 11:29 PM Here's another hint: we revealed 3 things about Qubic. You guys only discuss 2 of them.
Yellow - Yesterday at 11:29 PM I wrote a small piece about my thoughts on Qubic. Would love to get some discussion going on: https://www.reddit.com/Iota/comments/8gzk7u/qubic_potential_impact/
Eric Hop - Yesterday at 11:39 PM Seriously, by far the best write-up I've seen out there so far. No weird speculations and everything thought through brilliantly.
Eric Hop - Yesterday at 11:44 PM You've taken the few things we gave you and thought them through without going off on wild speculations and turned it into a coherent story. Very impressive. This article should be basic reading for everyone interested in Qubic.
Eric Hop - Today at 12:15 AM We've already indicated in the past that IOTA is building protocols for IoT that are supposed to become the standard. Look at IOTA itself. It's very basic. Yet the community and IF members have come up with interesting protocols on top of that to make it more interesting. MAM, Flash, cheques, aliases, etc. And now Qubic. I see the same thing happening there. Give people a new toy to play with and they will come up with things you never even envisioned.
Eric Hop - Today at 12:17 AM Of course. We make stuff for you guys to play with. It's community effort, permissionless innovation, that will create wonderful stuff. Just look at what Semko is doing with Carriota for example.
Eric Hop - Today at 12:17 AM Our task is to provide secure, working, scalable protolcols.
Eric Hop - Today at 12:18 AM That's why I always compare it to the early internet. You had TCP/IP to play with. Then someone came up with HTTP on top of that. Later someone put HTML on top of that.
Eric Hop - Today at 12:19 AM IOTA is TCP/IP. Qubic could be HTTP or even HTML. I don't kow yet.
Eric Hop - Today at 12:19 AM And just as with the internet it will be gradual and organic growth.
Eric Hop - Today at 12:24 AM I actually created the original web page for the qubic teaser. With my 6-year old web app development skills. At that time you would test against all major browsers on desktop and no one even considered mobile. So I made the mistake of using my old skills and forgot to test on mobile. Luckily Edward caught me on that. So they converted the page to a more modern version. I was blown away by how many things changed in those 6 years. The JS they used was almost unrecognizable. This is what I see happening with IOTA, with MAM, with Qubic, etc
submitted by btlkhs to Iota [link] [comments]

Why the Bitcoin Error Log Interview is Important

In a recent interview between John Carvahlo, CEO of Xotika and owner of the YouTube channel Bitcoin Error Log, and Roger Ver, millionaire Bitcoin investor and owner of the web domain bitcoin.com, tensions rise to all time highs much like the price of the coin these two individuals sponsor. In this near 45 minute interview that was cut short due to the latter “Rage-Quitting”, a lot was revealed from the core philosophies surrounding both Bitcoin and Bitcoin Cash in the 2017 market of crypto currencies.
The interview begins and ends with a discussion over the name “Bcash” which was infamously given to Bitcoin Cash by its opponents in the crypto-sphere. Bitcoin Cash was given the name Bcash by the Bitcoin community so as to not create confusion between the two coins as well as to anger the supporters of Bitcoin Cash; a tactic which appears to be quite effective as demonstrated in this interview. To be fair to Roger Ver, Carvahlo did seem a bit unprofessional by not trying to avoid calling Bitcoin Cash Bcash or by getting equally as heated as Roger Ver, but it’s a free market and there are no rules or laws that prevent him from doing as he pleases.
On one side we have Roger Ver, vehemently defending the honour of Bitcoin Cash as the truest form of the white paper created by Satoshi Nakamoto. On the other hand we have John Carvahlo who seems to use the term Bcash to delegitimize the claim that Bitcoin Cash is the true Bitcoin, to avoid confusion between the two coins for any newcomers to the crypto currency space and to annoy Roger Ver. Through out the rest of the interview, between overlapping rebuttals, some bits of information are dropped that reveal a lot about the true intention of one party in particular.
For starters Roger Ver claims that Bitcoin is a peer-to-peer electronic cash system to which Carvahlo disagrees as the presence of nodes on the network suggests otherwise. And I have to agree with John Carvahlo. Nothing on the Internet is truly peer-to-peer. The Internet itself suffers from forms of centralization between Internet Service Providers and the regional nodes they get the Internet from. The Internet in 2017 is void of any direct communication between peers; there are always middlemen in between. This brings up another topic discussed during the interview, whether or not Bitcoin as a network is truly decentralized.
For starters, Roger Ver claims that varying degrees of centralization are acceptable within the network and he expects the network to become more and more centralized as the growth of Bitcoin continues. To which I half agree. I think anarchy as governance is flawed; some political structure is necessary, such as Athenian democracy. Yes the Internet’s structure as well as that of the Bitcoin network, with the nodes and the ever-increasing difficulty of mining, can both guarantee that the Bitcoin network will never be truly decentralized and peer-to-peer. But what is worrying is what degree of centralization Roger Ver is ok with; and that is the heart of the scaling debate.
​Yes at times the Bitcoin network suffers from slow transaction times and high fees. Yes scaling is a problem with a desperate need for a solution. No, increasing the block size is not the answer.
​First, lets dissect Roger Ver’s position on bigger blocks. He claims that over the last 7 to 8 years, the Bitcoin blocks have scaled successfully and that empirically, it is a proven scaling solution that will lower transaction fees and times. The problem with that is his premise that Bitcoin has been scaling since the beginning is completely wrong and paints his cause in a preferred light. Bitcoin has not been scaling since 2009. When Bitcoin was created, within the code a block size limit was written. The block size limit has to be defined for blockchain to work because that would be a coding error. It would cause network stalls during periods of high traffic where a block could in theory never fill if enough transactions are being sent to the network at once. This is what is known as a Sybil attack. So from a certain point in time early in Bitcoin’s development, a block size limit of 1MB was coded into Bitcoin. Roger Ver claims that over the years, the block size grew from 1 KB to 2KB, so on and so forth until it reached the 1MB block size but that is wrong. The blocks always had room for 1MB but were very small due to the amount of transactions present in the mempool. That’s like saying my 100 mL cup that is half filled is actually a 50 mL cup because only half of it is being used. It’s still a 100 mL cup. And this is important because it proves that bigger blocks as a scaling solution has not been empirically tested. Which is why an “altcoin with a smaller market cap is being used to test new features”; it’s called Bitcoin Cash.
Another point that was not talked about during the interview is how bigger blocks cause greater miner centralization, the most critical flaw of the bigger blocks approach. With ASIC’s and ASIC Boost, it has become incredibly difficult for any individual to start mining Bitcoin for a profit. A large upfront investment into specialized mining hardware is required in order to generate a profit. This means that mining or the process of validating transactions is becoming more and more reserved to wealthy individuals. And this is apparently, arguably bad; at least Roger Ver seems to be ok with varying degrees of centralization. Except the whole point of crypto currencies is that no individual or no individual group should be able to control the network for their own self interest; we have fiat currency for that. So then when increasing the block size, yes more transactions are able to be processed in one block which does reduce fees and settling times except that bigger blocks are harder to mine, pushing the mining process further into centralization. It’s also a temporary solution because with the growing number of Bitcoin users, a bigger block size limit will be reached requiring another hard fork to increase the block size limit. This is like adding lanes to a highway because too many drivers are present on the road; it’s a bandaid solution that avoids the root of the problem.
This interview is important because between the well-rehearsed lines and the pressing questions, within his off-script bouts of rage, the true Roger Ver shines bright. Roger Ver talks about Bitcoin as if it’s a company. He criticizes the Core development team because since their arrival into the space, he claims that the market cap of Bitcoin has been “bleeding out” and that it’s losing its market share to altcoins, pointing to its drop in market dominance as proof. He might be right, or perhaps more and more people are looking at the wealth of early Bitcoin adopters and are trying to get rich from altcoins that could see similar growth. Or maybe it’s because altcoins aren’t direct competitors to Bitcoin and are using blockchain to solve real world problems and people are seeing their value. Regardless, he also argues that not anybody is able to contribute code to Bitcoin. And all of this is a twisted version of reality that pushes his agenda. Anybody today can write code for Bitcoin, and through community consensus can have it implemented. Roger Ver did not have the opportunity to defend his claim during the interview, but I think it’s apparent that because block size increases have been repeatedly shut down by the community, he claims that nobody outside Core can contribute code to Bitcoin. That’s just not true. Segwit, a Bitcoin feature added through node consensus, is allowing for the lightning network, a layer 2 scaling solution, to be independently developed by passionate members of the Bitcoin community. The very idea of a BIP (Bitcoin Improvement Proposal) was proposed and implemented by a community member. Roger Ver also often refers to permissions on the GitHub repository as “the keys” as if any one person can own the network like a house. This is false. The reason why the core developers code is widely accepted is because the community supports the work they’re doing. Roger Ver says it himself: he believes we need to let the market decide what coin is the true Bitcoin. Except that it already has. If people wanted bigger blocks, Bitcoin Cash would be called Bitcoin. It is also worth noting that the market has decided multiple times that it does not want to increase the block size as other Bitcoin forks that Roger Ver has supported in the past, namely Bitcoin Classic and Bitcoin Unlimited, have failed.
Roger Ver claims that people who call Bitcoin Cash, Bcash have been brainwashed by its opponents. He believes that Segwit is adopted by brainwashed individuals. As if nobody in the Bitcoin community can think for themselves; we’re all just sheep waiting for a shepherd like Roger Ver to tell us what’s right. Except that by purposefully misleading newcomers to the crypto space by calling his website that supports Bitcoin Cash, bitcoin.com, by misleading the newcomers by not clearly explaining the differences between Bitcoin Cash and Bitcoin on the wallet app his website sponsors and by also calling Bitcoin, Bitcoin Core or Bitcoin Segwit, he’t not only being a hypocrite for criticizing Carvahlo for name calling, he’s also issuing his own brand of brainwashing instead of letting new users decide for themselves which coin is the real Bitcoin. If his claims that Core and Core supporters are brainwashing people were true, Roger Ver would be just as guilty of doing this.
A final point I would like to make is how both camps view Bitcoin philosophically. The Bitcoin supporters mostly view Bitcoin as a store of value while Bitcoin Cashers view Bitcoin as a peer-to-peer digital cash. And I want to point out that Bitcoin fails tremendously in its current state at being a dollar killer, a digital cash. Bitcoin as a store of value has succeeded tremendously. People all over the world are using Bitcoin to have value traverse borders with ease, to send value to loved ones without going through Western Union or as an investment vehicle. In that sense, Bitcoin is truly like digital gold. As a currency, it has seen some success in terms of adoption. Many merchants accept Bitcoin as a form of payment. You can even buy airline tickets with Baltic Airlines via Bitcoin. But, in my opinion, neither Bitcoin nor Bitcoin Cash could today successfully replace fiat currency. If today either coin were adopted globally, both coins in their current state would face tremendous scaling issues, causing insanely high transaction fees and slow confirmation times. The lightning network is showing more promise than bigger blocks as it doesn’t push miner centralization, it actually decreases the amount of transactions on chain but it has yet to be seen if this solution will work. Without scaling as an issue, both coins also suffer from a deflationary problem, which many economists argue disqualifies most crypto currencies as a good fiat replacement. That however, is a different topic.
The scaling debate should not be a debate anymore. The community has been offered a currency with larger blocks, lower fees and faster settling times, time and time again. It had Bitcoin Classic, Bitcoin Unlimited, Bitcoin Cash and Segwit 2X to decide and the answer has been an astounding no. If users truly desired a coin that fit this description, Litecoin would lead the crypto currency market, or any other crypto currency like it. But the fact is Bitcoin in its flawed state leads the pack and nobody today uses Bitcoin as a digital cash as Satoshi Nakamoto intended. Just like nobody avoids eating shrimp and other crustaceans because the Bible said it was a great sin. I believe the topic on crypto forums should no longer be scaling as Segwit is being adopted through consensus and the Lightning Network is imminent. If it fails to scale Bitcoin, then we’ll go back to the drawing board. I think the true debate should be whether the community wants Bitcoin to truly be a replacement for fiat currencies or if it should remain a store of value like gold.
Either way, this interview gives the crypto community a glimpse at the real Roger Ver, a used-car-salesmen type who rehearses his lines and changes definitions to paint his cause in the proper light. A guy who is ok with Bitcoin becoming centralized. A guy who likes to flash his cash and likes to belittle others for making less money than him and for operating legitimate businesses within the sex industry. A guy who disagrees with the decisions the Bitcoin community has made over the years so instead of creating his own currency and leaving the Bitcoin brand alone, he constantly pushes a skewed narrative of Core and Bitcoin and how it’s flawed. How Bitcoin Cash is the true Bitcoin. He acts like a paternal figure, knowing what’s best for the community despite it’s previous choices and loses his temper when it’s evident he doesn’t have control; like an abusive lover. If his intentions were honest, why would he try to steal the Bitcoin brand? Why would he try to tarnish the name of the thing that gave him a large part of his wealth in the first place? Personally, it seems to me like he’s that kid at the playground, the one that nobody wanted to play games by his rules. Instead of finding someone else to play with, he tries to manipulate others, takes fits when he doesn’t get his way and ultimately decides for everyone that if he can’t have his way, then nobody should.
submitted by TheRebelOfBabylon to Bitcoin [link] [comments]

Atox builds a new ecosystem with a win-win thinking and returns to the initial wish of blockchain’s value


2019 is the year of return of blockchain’s value. Atox replaces the "family" thinking of "cutting leek" with "co-construction and sharing", practices the original aim of the blockchain, and achieves a win-win new ecosystem and becomes an industry leader.
1.AtoX builds ecosystem with win-win thinking and becomes the leader of new mode of ecological construction
Ecological construction is an indispensable part of the blockchain project. Bitcoin, Ethereum, Ripple, EOS and other relatively leading blockchain projects, each has a strong ecosystem. However, most of the past projects used the idea of “cutting leeks” to engage in ecosystem, and the great technological invention of ICO was reduced from a credit machine into a fraud tool. As a result, the market ruthlessly fell, the lesson was very painful, and the blockchain revolution was almost ruined.
AtoX follows the spirit of mutual benefit of co-governance and sharing, and regards ecological construction as the strategic fulcrum of the blockchain project, making full use of its advantages, such as core technology, business model, model of token economy , ecological construction, team strength, capital and resource capabilities. To create a fast profitable, sustainable development, social contribution to achieve a unified blockchain project. The head effect has emerged and it has become a leader.
AtoX is the core value of the AtoX project culture by taking the ecosystem as the family and taking the eco-builders as family members. AtoX practices the eradication of ICO’s cutting leek, returning to the value source of the blockchain, allowing the ecosystem to grow together with the project, to get rich together, and to create a new ecological construction model.
Two new slogans from AtoX: not to be a leek but a community member, do not privately mining a mine but as a node. In the world of AtoX, the relation of production is new, and we work for ourselves. The core development teams, foundations, all-nodes, investors, commune members, and users will all participate on an equal footing. Everyone work together, actively contribute, jointly create the ecosystem, and share the ecological results. The AtoX ecosystem has its own token AXC to motivate all parties. The ecological profit comes from the return of the AtoX project to economic and social transformation services. Due to the huge energy of AtoX, the potential is unlimited.
2.AtoX has the strength to become the leader of win-win new ecological model
(1) Ai enhanced cross-chain technology
AtoX's Ai enhances cross-chain, technically overcomes the triangular contradiction of decentralization, security and commerciality, and is a leading technical architecture. Currently, the AtoX ecosystem includes its own publci blockchain, its own wallet and exchange (its app is AtoXSwap) and its own token (AtoXCoin, abbreviated AXC).
AtoX's Ai enhanced cross-chain architecture, which is very scalable and can do a lot of things. The lightning network achieves high-speed TPS, and the decentralization and security can be handed over to AI, which is the underlying public blockchain. In the new financial business model, such as payment, there are more places to use big data and Ai. Combine with business and users, and then gradually upgrade and improve after the business has been done.
(2) New financial business model
AtoX has pioneered the lightning network and payment settlement that is not affected by the bear market. It has built a channel to support dual-token UT/ST and to provide funds for entities to become the leading new financial platform to support blockchain reform.
(3) Sustainable Token Economy Model
AtoX wallets support cross-chain, also support multiple coins, and match sellers and buyers. AXC can be used as an intermediary to mine, and the price of AXC can be supported for a long time. Super nodes, alternate nodes, lightning nodes, each node generates new blocks, they can receive different rewards.
(4) International team
The AtoX project team is headquartered in Switzerland, with a core technical team based in Silicon Valley, USA, and there are also offices in Italy, Germany, Australia and other countries.
Strict compliance with Swiss rules is a guarantee for the interests of all parties involved in the project.
  1. Lightning network and payment settlement are not affected by fluctuations in coin prices, and they stand out and develop rapidly.
The AtoX project started with lightning network and payment settlement, and grasped the pulse of market development. It is a touch of color in the bear market.
2019 will be a year of rapid development of the lightning network. Lightning Network is a bitcoin-based micropayment network. The cryptocurrency can be effectively transferred across borders, and you can quickly move funds to where it is needed, do not involve geopolitics, without embargoes, sanctions or controlling traditional currencies.
In the long run, cryptocurrencies can do what current payment systems, such as Visa, can't do, that is, complete cross-border settlements in milliseconds and complete payments at very low commissions. The amount of payment can be not only less than 1 US dollar, but less than 1 cent, and the transfer time is less than one millisecond. With such cross-border settlement, a real innovative applications will emerge.
Payment settlement will be a booming market. It is used to the payment and settlement of cryptocurrency and is not affected by currency fluctuations. Because when the value of cryptocurrency is low, it is not really affected by price fluctuations. For example, in the context of bear market in 2018, this market is also developing. If the system grows in flow and popularity, the volatility will naturally become smaller. The more people use it, the more they use it in their daily lives, the less volatility they have, because speculation is not the main driver. .
  1. Who actively participate in AtoX will eventually become a rich harvester
From the whole market, the fall in 2018 is only the market, and the blockchain is still growing rapidly. For example, the number of wallet users in the Bitcoin blockchain has increased by 10 million from the beginning of 2017 to more than 31.9 million. China's blockchain-related enterprises, According to the data of the State Administration for Industry and Commerce, there were 19,000 companies by the end of 2018, 5,000 at the end of last year, and nearly 15,000 registered in 2018.
In 2019, we believe that it is the year of making order out of confusion, value return, and not forgetting the original ideals and aspirations. The value of the blockchain’s credit mechanism, incentive mechanism, and organizational mechanism will once again become dominant. The top ten killer applications, such as new finance, digital asset trading, digital legal affairs, blockchain merchants, product traceability, distributed ledger, sharing economy, relief, new wisdom city, supervision sandbox and others will be born, leading the industry back to the bull market.
How do participants participate? If you have the technology to participate in the development, if you have the funds to invest, if you have the computing power to be a node, you don't have anything, as long as you have passion, you can be a member of the ecological construction community.
AtoX is an ideal project to participate in. The standard is very simple. First, the project is promising, and second, the team is reliable.
We are believers, we believe that the logic of the blockchain transforming the world is right; we are devotees, we actively participate in project investment, business, activities; of course, we are qualified to become a harvester, and we can certainly become a harvester!
Choose the AtoX project to let you break out in 2019. Participation link:
submitted by tongzhengshijie1 to u/tongzhengshijie1 [link] [comments]

AtoX: Leading the new height of public blockchain’s development


What is the public blockchain?
It is easy to understand that the public blockchain is a completely open data management and operation system based on the consensus of non-specific participants.
Of course, there are not a few project parties that focus on the private blockchain and the consortium blockchain. Compared with the public blockchain, the private blockchain and the consortium blockchain are not fully open. The private blockchain, its read permission can be selectively opened to the public on demand, and the consortium blockchain needs to be authorized to log in and log out the network.
From the perspective of this feature, the public blockchain has the advantage of decentralization. In general, the higher the degree of decentralization, the higher the level of trust and security, the lower the transaction efficiency. In other words, the public blockchain is one of the most in line with the ecological development needs of the blockchain.
From the perspective of the current well-developed public blockchain projects, most of the functions are digital currency transfer, storage, trading, sharing, etc. Only a few public blockchain projects have the development and privacy protection features of smart contracts.
This phenomenon also fully shows that the development of the public blockchain is on the right track and is gradually expanding other technological upgrades. For example, smart contracts, privacy protection, etc., these are the problems that need to be resolved in the later development of the public blockchain.
The two most common public blockchain projects, one is Bitcoin, which is also the earliest public blockchain, from 2008 to 2018, developed for nearly a decade. Another is Ethereum, which is based on smart contracts, making many projects to launch coin on its platform and quickly becoming the largest “app store” in the blockchain world.
The ten-year development of Bitcoin has not been smooth sailing, and it has been conducting dark trading since the beginning. Even the mysterious creator, Nakamoto, has said: "Its technology is not perfect enough, it shouldn't appear prematurely." Therefore, during this decade, there have been various discussions and solutions on transaction speed, cost, storage and so on, and people have always been exploring its application value.
The other project, Ethereum, grew up in the myth of getting rich under public opinion. Take the game field as a example, from the pet game to the Fomo3D game, it just grabs the limelight for a period of time, and will soon fade out of people's sight. Even though more and more projects can be issued on Ethereum through smart contracts, the killer application does not appear.
Judging from the common two public blockchain projects, it has not yet reached a stage of full maturity.
Recently, the emergence of the AtoX project based on blockchain 4.0 technology has pushed the development of the public blockchain to a new level. AtoX attracts the attention of the industry with its three technical advantages: the technology of atomic cross exchange, which can realize the security protocol of value exchange between different blockchains; Lightning network technology can realize unlimited high-speed transactions on a blockchain; The technology of storage before consensus, the transaction of the database table can be pre-executed in the database and then sent to the blockchain network for consensus.
In addition, the project team established a AtoX Swap cross-chain wallet and decentralized exchange on the AtoX public blockchain system, and cooperated with Alibaba, Amazon, MasterCard and other commercial top enterprises to build Swap daily payment system to achieve more landing application.
submitted by tongzhengshijie1 to u/tongzhengshijie1 [link] [comments]

AtoX: Leading the new height of public blockchain’s development

What is the public blockchain? It is easy to understand that the public blockchain is a completely open data management and operation system based on the consensus of non-specific participants. Of course, there are not a few project parties that focus on the private blockchain and the consortium blockchain. Compared with the public blockchain, the private blockchain and the consortium blockchain are not fully open. The private blockchain, its read permission can be selectively opened to the public on demand, and the consortium blockchain needs to be authorized to log in and log out the network. From the perspective of this feature, the public blockchain has the advantage of decentralization. In general, the higher the degree of decentralization, the higher the level of trust and security, the lower the transaction efficiency. In other words, the public blockchain is one of the most in line with the ecological development needs of the blockchain. From the perspective of the current well-developed public blockchain projects, most of the functions are digital currency transfer, storage, trading, sharing, etc. Only a few public blockchain projects have the development and privacy protection features of smart contracts. This phenomenon also fully shows that the development of the public blockchain is on the right track and is gradually expanding other technological upgrades. For example, smart contracts, privacy protection, etc., these are the problems that need to be resolved in the later development of the public blockchain.
The two most common public blockchain projects, one is Bitcoin, which is also the earliest public blockchain, from 2008 to 2018, developed for nearly a decade. Another is Ethereum, which is based on smart contracts, making many projects to launch coin on its platform and quickly becoming the largest “app store” in the blockchain world. The ten-year development of Bitcoin has not been smooth sailing, and it has been conducting dark trading since the beginning. Even the mysterious creator, Nakamoto, has said: "Its technology is not perfect enough, it shouldn't appear prematurely." Therefore, during this decade, there have been various discussions and solutions on transaction speed, cost, storage and so on, and people have always been exploring its application value. The other project, Ethereum, grew up in the myth of getting rich under public opinion. Take the game field as a example, from the pet game to the Fomo3D game, it just grabs the limelight for a period of time, and will soon fade out of people's sight. Even though more and more projects can be issued on Ethereum through smart contracts, the killer application does not appear. Judging from the common two public blockchain projects, it has not yet reached a stage of full maturity. Recently, the emergence of the AtoX project based on blockchain 4.0 technology has pushed the development of the public blockchain to a new level. AtoX attracts the attention of the industry with its three technical advantages: the technology of atomic cross exchange, which can realize the security protocol of value exchange between different blockchains; Lightning network technology can realize unlimited high-speed transactions on a blockchain; The technology of storage before consensus, the transaction of the database table can be pre-executed in the database and then sent to the blockchain network for consensus.
In addition, the project team established a AtoX Swap cross-chain wallet and decentralized exchange on the AtoX public blockchain system, and cooperated with Alibaba, Amazon, MasterCard and other commercial top enterprises to build Swap daily payment system to achieve more landing application. www.atox.io
submitted by TONGZHENGSHIJIE to u/TONGZHENGSHIJIE [link] [comments]

Atox builds a new ecosystem with a win-win thinking and returns to the initial wish of blockchain’s value


2019 is the year of return of blockchain’s value. Atox replaces the "family" thinking of "cutting leek" with "co-construction and sharing", practices the original aim of the blockchain, and achieves a win-win new ecosystem and becomes an industry leader.
1.AtoX builds ecosystem with win-win thinking and becomes the leader of new mode of ecological construction
Ecological construction is an indispensable part of the blockchain project. Bitcoin, Ethereum, Ripple, EOS and other relatively leading blockchain projects, each has a strong ecosystem. However, most of the past projects used the idea of “cutting leeks” to engage in ecosystem, and the great technological invention of ICO was reduced from a credit machine into a fraud tool. As a result, the market ruthlessly fell, the lesson was very painful, and the blockchain revolution was almost ruined.
AtoX follows the spirit of mutual benefit of co-governance and sharing, and regards ecological construction as the strategic fulcrum of the blockchain project, making full use of its advantages, such as core technology, business model, model of token economy , ecological construction, team strength, capital and resource capabilities. To create a fast profitable, sustainable development, social contribution to achieve a unified blockchain project. The head effect has emerged and it has become a leader.
AtoX is the core value of the AtoX project culture by taking the ecosystem as the family and taking the eco-builders as family members. AtoX practices the eradication of ICO’s cutting leek, returning to the value source of the blockchain, allowing the ecosystem to grow together with the project, to get rich together, and to create a new ecological construction model.
Two new slogans from AtoX: not to be a leek but a community member, do not privately mining a mine but as a node. In the world of AtoX, the relation of production is new, and we work for ourselves. The core development teams, foundations, all-nodes, investors, commune members, and users will all participate on an equal footing. Everyone work together, actively contribute, jointly create the ecosystem, and share the ecological results. The AtoX ecosystem has its own token AXC to motivate all parties. The ecological profit comes from the return of the AtoX project to economic and social transformation services. Due to the huge energy of AtoX, the potential is unlimited.
2.AtoX has the strength to become the leader of win-win new ecological model
(1) Ai enhanced cross-chain technology
AtoX's Ai enhances cross-chain, technically overcomes the triangular contradiction of decentralization, security and commerciality, and is a leading technical architecture. Currently, the AtoX ecosystem includes its own publci blockchain, its own wallet and exchange (its app is AtoXSwap) and its own token (AtoXCoin, abbreviated AXC).
AtoX's Ai enhanced cross-chain architecture, which is very scalable and can do a lot of things. The lightning network achieves high-speed TPS, and the decentralization and security can be handed over to AI, which is the underlying public blockchain. In the new financial business model, such as payment, there are more places to use big data and Ai. Combine with business and users, and then gradually upgrade and improve after the business has been done.
(2) New financial business model
AtoX has pioneered the lightning network and payment settlement that is not affected by the bear market. It has built a channel to support dual-token UT/ST and to provide funds for entities to become the leading new financial platform to support blockchain reform.
(3) Sustainable Token Economy Model
AtoX wallets support cross-chain, also support multiple coins, and match sellers and buyers. AXC can be used as an intermediary to mine, and the price of AXC can be supported for a long time. Super nodes, alternate nodes, lightning nodes, each node generates new blocks, they can receive different rewards.
(4) International team
The AtoX project team is headquartered in Switzerland, with a core technical team based in Silicon Valley, USA, and there are also offices in Italy, Germany, Australia and other countries.
Strict compliance with Swiss rules is a guarantee for the interests of all parties involved in the project.
  1. Lightning network and payment settlement are not affected by fluctuations in coin prices, and they stand out and develop rapidly.
The AtoX project started with lightning network and payment settlement, and grasped the pulse of market development. It is a touch of color in the bear market.
2019 will be a year of rapid development of the lightning network. Lightning Network is a bitcoin-based micropayment network. The cryptocurrency can be effectively transferred across borders, and you can quickly move funds to where it is needed, do not involve geopolitics, without embargoes, sanctions or controlling traditional currencies.
In the long run, cryptocurrencies can do what current payment systems, such as Visa, can't do, that is, complete cross-border settlements in milliseconds and complete payments at very low commissions. The amount of payment can be not only less than 1 US dollar, but less than 1 cent, and the transfer time is less than one millisecond. With such cross-border settlement, a real innovative applications will emerge.
Payment settlement will be a booming market. It is used to the payment and settlement of cryptocurrency and is not affected by currency fluctuations. Because when the value of cryptocurrency is low, it is not really affected by price fluctuations. For example, in the context of bear market in 2018, this market is also developing. If the system grows in flow and popularity, the volatility will naturally become smaller. The more people use it, the more they use it in their daily lives, the less volatility they have, because speculation is not the main driver. .
  1. Who actively participate in AtoX will eventually become a rich harvester
From the whole market, the fall in 2018 is only the market, and the blockchain is still growing rapidly. For example, the number of wallet users in the Bitcoin blockchain has increased by 10 million from the beginning of 2017 to more than 31.9 million. China's blockchain-related enterprises, According to the data of the State Administration for Industry and Commerce, there were 19,000 companies by the end of 2018, 5,000 at the end of last year, and nearly 15,000 registered in 2018.
In 2019, we believe that it is the year of making order out of confusion, value return, and not forgetting the original ideals and aspirations. The value of the blockchain’s credit mechanism, incentive mechanism, and organizational mechanism will once again become dominant. The top ten killer applications, such as new finance, digital asset trading, digital legal affairs, blockchain merchants, product traceability, distributed ledger, sharing economy, relief, new wisdom city, supervision sandbox and others will be born, leading the industry back to the bull market.
How do participants participate? If you have the technology to participate in the development, if you have the funds to invest, if you have the computing power to be a node, you don't have anything, as long as you have passion, you can be a member of the ecological construction community.
AtoX is an ideal project to participate in. The standard is very simple. First, the project is promising, and second, the team is reliable.
We are believers, we believe that the logic of the blockchain transforming the world is right; we are devotees, we actively participate in project investment, business, activities; of course, we are qualified to become a harvester, and we can certainly become a harvester!
submitted by TONGZHENGSHIJIE to u/TONGZHENGSHIJIE [link] [comments]

Atox builds a new ecosystem with a win-win thinking and returns to the initial wish of blockchain’s value

Atox builds a new ecosystem with a win-win thinking and returns to the initial wish of blockchain’s value
2019 is the year of return of blockchain’s value. Atox replaces the "family" thinking of "cutting leek" with "co-construction and sharing", practices the original aim of the blockchain, and achieves a win-win new ecosystem and becomes an industry leader.
1.AtoX builds ecosystem with win-win thinking and becomes the leader of new mode of ecological construction
Ecological construction is an indispensable part of the blockchain project. Bitcoin, Ethereum, Ripple, EOS and other relatively leading blockchain projects, each has a strong ecosystem. However, most of the past projects used the idea of “cutting leeks” to engage in ecosystem, and the great technological invention of ICO was reduced from a credit machine into a fraud tool. As a result, the market ruthlessly fell, the lesson was very painful, and the blockchain revolution was almost ruined.
AtoX follows the spirit of mutual benefit of co-governance and sharing, and regards ecological construction as the strategic fulcrum of the blockchain project, making full use of its advantages, such as core technology, business model, model of token economy , ecological construction, team strength, capital and resource capabilities. To create a fast profitable, sustainable development, social contribution to achieve a unified blockchain project. The head effect has emerged and it has become a leader.
AtoX is the core value of the AtoX project culture by taking the ecosystem as the family and taking the eco-builders as family members. AtoX practices the eradication of ICO’s cutting leek, returning to the value source of the blockchain, allowing the ecosystem to grow together with the project, to get rich together, and to create a new ecological construction model.
Two new slogans from AtoX: not to be a leek but a community member, do not privately mining a mine but as a node. In the world of AtoX, the relation of production is new, and we work for ourselves. The core development teams, foundations, all-nodes, investors, commune members, and users will all participate on an equal footing. Everyone work together, actively contribute, jointly create the ecosystem, and share the ecological results. The AtoX ecosystem has its own token AXC to motivate all parties. The ecological profit comes from the return of the AtoX project to economic and social transformation services. Due to the huge energy of AtoX, the potential is unlimited.
2.AtoX has the strength to become the leader of win-win new ecological model
(1) Ai enhanced cross-chain technology
AtoX's Ai enhances cross-chain, technically overcomes the triangular contradiction of decentralization, security and commerciality, and is a leading technical architecture. Currently, the AtoX ecosystem includes its own publci blockchain, its own wallet and exchange (its app is AtoXSwap) and its own token (AtoXCoin, abbreviated AXC).
AtoX's Ai enhanced cross-chain architecture, which is very scalable and can do a lot of things. The lightning network achieves high-speed TPS, and the decentralization and security can be handed over to AI, which is the underlying public blockchain. In the new financial business model, such as payment, there are more places to use big data and Ai. Combine with business and users, and then gradually upgrade and improve after the business has been done.
(2) New financial business model
AtoX has pioneered the lightning network and payment settlement that is not affected by the bear market. It has built a channel to support dual-token UT/ST and to provide funds for entities to become the leading new financial platform to support blockchain reform.
(3) Sustainable Token Economy Model
AtoX wallets support cross-chain, also support multiple coins, and match sellers and buyers. AXC can be used as an intermediary to mine, and the price of AXC can be supported for a long time. Super nodes, alternate nodes, lightning nodes, each node generates new blocks, they can receive different rewards.
(4) International team
The AtoX project team is headquartered in Switzerland, with a core technical team based in Silicon Valley, USA, and there are also offices in Italy, Germany, Australia and other countries.
Strict compliance with Swiss rules is a guarantee for the interests of all parties involved in the project.
  1. Lightning network and payment settlement are not affected by fluctuations in coin prices, and they stand out and develop rapidly.
The AtoX project started with lightning network and payment settlement, and grasped the pulse of market development. It is a touch of color in the bear market.
2019 will be a year of rapid development of the lightning network. Lightning Network is a bitcoin-based micropayment network. The cryptocurrency can be effectively transferred across borders, and you can quickly move funds to where it is needed, do not involve geopolitics, without embargoes, sanctions or controlling traditional currencies.
In the long run, cryptocurrencies can do what current payment systems, such as Visa, can't do, that is, complete cross-border settlements in milliseconds and complete payments at very low commissions. The amount of payment can be not only less than 1 US dollar, but less than 1 cent, and the transfer time is less than one millisecond. With such cross-border settlement, a real innovative applications will emerge.
Payment settlement will be a booming market. It is used to the payment and settlement of cryptocurrency and is not affected by currency fluctuations. Because when the value of cryptocurrency is low, it is not really affected by price fluctuations. For example, in the context of bear market in 2018, this market is also developing. If the system grows in flow and popularity, the volatility will naturally become smaller. The more people use it, the more they use it in their daily lives, the less volatility they have, because speculation is not the main driver. .
  1. Who actively participate in AtoX will eventually become a rich harvester
From the whole market, the fall in 2018 is only the market, and the blockchain is still growing rapidly. For example, the number of wallet users in the Bitcoin blockchain has increased by 10 million from the beginning of 2017 to more than 31.9 million. China's blockchain-related enterprises, According to the data of the State Administration for Industry and Commerce, there were 19,000 companies by the end of 2018, 5,000 at the end of last year, and nearly 15,000 registered in 2018.
In 2019, we believe that it is the year of making order out of confusion, value return, and not forgetting the original ideals and aspirations. The value of the blockchain’s credit mechanism, incentive mechanism, and organizational mechanism will once again become dominant. The top ten killer applications, such as new finance, digital asset trading, digital legal affairs, blockchain merchants, product traceability, distributed ledger, sharing economy, relief, new wisdom city, supervision sandbox and others will be born, leading the industry back to the bull market.
How do participants participate? If you have the technology to participate in the development, if you have the funds to invest, if you have the computing power to be a node, you don't have anything, as long as you have passion, you can be a member of the ecological construction community.
AtoX is an ideal project to participate in. The standard is very simple. First, the project is promising, and second, the team is reliable.
We are believers, we believe that the logic of the blockchain transforming the world is right; we are devotees, we actively participate in project investment, business, activities; of course, we are qualified to become a harvester, and we can certainly become a harvester!
submitted by gswt to u/gswt [link] [comments]

"Code is Law": Comedy Gold Survey on Ethereum

Survey ID: 00001 Coin: Ethereum Client: Tyler Durden

Executive summary:

Ethereum is almost certainly the number 2 coin in comedy gold. It will likely surpass Bitcoin in comedy gold long before it passes it in market cap. Thanks in large part to a spam-based marketing campaign on Reddit, it also has a dedicated base of critics.
After its IPO, it was known as “Inthereum” for a while, infinitely powerful of course, as vaporware can do anything. It had a major version release, then another. Finally, a major smart contract, in terms of valuation, came along: The DAO. Not to be confused with other DAOs, before and after. The DAO was the biggest. It was going to be the best; it already was the best! Euphoria was off the charts.
Until just a few months in, a bug was found. And the killer app became the flash point. What could they do? Well, hard fork and give the money back, of course! And so they did.
“Code is Law”; but this is actually good for Ethereum because “[a]lthough some do question the analogy ‘code is law’. I do not. We just found out that we have a supreme court, the community!” [1]
After the D'OH, Ethereum struggles to top its ATH comedy gold, but there is still a bright future for popcorn and comedy gold from Ethereum.

5 Largest Veins of Comedy Gold

Here are the largest comedy gold veins in Ethereum in potential reserves in our estimation in approximately descending order:
  • Cultlike euphoria - Now, this can certainly be said to be common to almost all cryptocurrencies. But Ethereum seems special here, even more than Bitcoin's community. There is a real belief here that this coin is going to change the world. This helps play into a "this is very good for Ethereum" mindset, wherein even the D'OH fork was a great success!
There is no greater terror than a fiend on ether.
  • Vitalik Buterin - The best name in cryptocurrency! Young genius central to Ethereum and almost universally seen as the most important leader in the project. In our view, his endorsement and leadership during the D'OH fork led to that route being taken. That is, we believe if he had opposed it from the start, he may have been able to prevent it or at least have led to what is now called ETC being the dominant of the two.
And so in our view, Mr. Buterin runs a billion dollar cryptocurrency right now. He and his team seem to have done reasonably well so far; it seems likely they'll continue to thrive. To the best of my knowledge, confirmed on /ethereum, there hasn't been a drug market implemented in Ethereum or trading with ETH so far. But while it seems like a terrible idea, because of the lack of privacy and proven mutability of contracts, it seems like eventually there's going to be a major drug market accepting ETH just because it has such a high value. And, they point out, monero and zcoin’s core privacy feature will apparently be available on ETH after this next fork, so look forward to anonymous ETH fueling drug markets!
And then the interesting question will be raised of how Chief Justice Buterin will rule on the case, whether it is worthy of an intervention or not. If not a drug market, then another buggy and hacked contract. Or a hacked exchange, and the question of whether to make it or its users whole, or "let the hacker win".
  • DAOs - From the beginning, it was proposed that Ethereum itself and its reserve fund would be turned into a DAO. How exactly this was going to happen would be figured out later of course. There was an initial estimate of 2016 for the transition.
Of course, in 2016, The DAO and the D'OH happened. I'm not aware of a current further push to put all of ETH's future funding into a DAO. But I'm sure the topic will resurface. And it will be hilarious on so many levels. The DAO actually collapsed too soon for peak comedy gold extraction. It had been predicted that there would be no consensus on any proposals and that nothing would be funded, and that there would be gold from that. But it was just a few months in when the bug was found. And while the D'OH fork was certainly a rich vein of comedy gold, it wasn't as rich as what the DAO could have been if it had floundered around for a year or so before the hack.
Surprisingly, there's actually a running, apparently working DAO on ETH that was started even before The DAO: digixDAO. If it keeps on running, it will continue to be hilarious as other DAOs fail to learn from it. If it fails, there's all the more hilarity for Ethereum, making it the platform where anything complicated enough to look like an original use case will break. The very existence of digix is proof-of-comedy-gold.
  • Immutability - The whole central notion of immutability is going to be a recurring question for Ethereum after the D'OH. While there was a lot of sentiment of "just this once and never again" at the time, there will someday be another major issue, and the precedent will mean that at least a major debate among the community will be had. Ethereum is "mostly immutable". Bitcoin is far better protected here, because while it's true they've hard forked to fix a bug before, that was years ago and the community is far more fractured now. Ethereum has a demonstrated capacity to do both routine and controversial hard forks. This strength is also a challenge, as it will invite constant legal and ethical questions about when it's appropriate to modify the chain itself with a fork: that is, rolling back some or all transactions after major bugs, thefts, frauds, and so forth.
  • Concentration of funds - This one I'm just guessing at. Although rich lists do exist, obviously one entity like an exchange could pool funds in an address without one person owning that much, or one person could splits their coins among many accounts. But it gives a rough guide. In Bitcoin, the top 113 addresses, having more than 10,000 BTC, in total are 17.46% of the current supply [ 2 ]. And in Ethereum, it's true that the top two accounts are marked as exchange accounts [ 3 ]. Still, having lots of funds concentrated in a single exchange wallet seems to still have some potential for comedy gold. In Ethereum, the top 50 addresses have more than double the proportion of the top 113 in Bitcoin, a bit over 40% of the current supply. My guess would be there are still a lot of people who invested heavily in the initial ICO who have held onto a significant portion of their initial ETH. While some of these top addresses are exchanges, I think there are probably many individuals represented in here as well, and every one of them is a multimillionaire from this account alone.
Of course, so far, because ETH is still smaller than BTC in overall market cap, these top addresses aren't as huge as the top addresses in Bitcoin in current market value. But if ETH were to overtake BTC's current position with a relatively unchanged distribution, there would be some real comedy gold coming off this factor. Cribs could have a spin-off Ethereum series.
This concentration was a part of making The D'OH what it was in my view as well: in Bitcoin, there would never have been so much of the coin tied up in one particular venture, at least not now. But in Ethereum, this concentration and groupthink can combine to hilarious effect.

A Brief History of Comedy Gold in Ethereum:

“Laws, like sausages, cease to inspire respect in proportion as we know how they are made” - John Godfrey Saxe
In the beginning, there was an offering. The greatest coin the world had ever seen; step right up and buy it! There was even code; this is no vaporware! Sure, there was more work to be done, but the ICO would fund that work, the founders would get a little, and create a reserve for the future and the rest would be mineable.
There was also some of the most vociferous objections on BCT, declaring that the stake allocated to the founders was too large, pointing to other coins which had done smaller or done without. Arguing against the reserve; arguing against having a presale at all. Some people, of course, completely failing to read the documentation accurately to see what was even being proposed. And an almost complete radio silence from this large team working around the clock on Ethereum.
It took some months from when the initial ANN was made until the sale actually started, but by the time they had their sale, they had perhaps the best documentation at launch to-date. Of course, there were some areas which seemed to lack some detail, like the budgeting, but never mind that, it was finally launching!
Launching the sale, at least. In July and August of 2014, Ether was first sold. It was described as “fuel” for the virtual machine they were going to build [ 4 ].
And then, a year later, Ethereum was released live. By July 2016, it had already had its first major crisis after The DAO was hacked and the D’OH fork introduced in response.
But the fact that Ethereum was ever released, and that it was released so quickly, is truly incredible. There was more than one person who thought that the stated goals of Ethereum were not possible. And, of course, many initial goals and deadlines didn’t happen. But unlike the railbirds on BCT were convinced, the team did not fail nor did it run off with the money. They were given a blank check, and they actually delivered a working product which has been successful so far financially.
Of course, having its flagship smart contract go belly-up quite so quickly after having finally gotten a “killer app” seems rather unfortunate. The oracle problem (the question of how to reliably relate smart contracts to the outside world) seems unresolved, but partial solutions are inevitable and can only serve to make increasingly complex and thus popcorn-loaded contracts possible.
Right now, all seems relatively quiet. But rest assured, there remains plenty of euphoria and gas to drive many more cycles of comedy gold production. Ether huffers need something to throw their ETH at. The more complicated; the better! Given some of the creations that have been made in NXT, for instance, a few more years of creativity on ETH should yield some very complicated and pop-corn rich smart contracts.

Researcher’s Narrative:

I was relaxing in my office, waiting for business. It was a dingy little one-room affair, but it would serve for now. Particularly with no clients. I had poured myself a double shot, and was about to enjoy it, when suddenly the door opened.
A man walked in, familiar somehow although I couldn't place him. I reached out my hand instinctively, and instead of shaking it, he handed me a dollar.
"Hello?"
He pointed at the sign in the window, advertising a promotional one dollar gold survey for the first client. Always astute, I quickly surmised he wished to hire me.
"Of course, sir! What coin would you like?"
"Ethereum."
"Certainly! And may I have your name for the log?"
"Tyler Durdan."
And with that, my newest client left. I downed my double and poured a generous triple to follow it. This was going to be a long day.
Ethereum was the ultimate prize in my line of work. The coin which proved the adage that truth is stranger than fiction; which had proved itself a lucrative source of comedy gold.
And who am I? Guy Noir, private comedy gold surveyor. I've seen things you people wouldn't believe. Premined scamcoins crashing on noname exchanges. I watched popcorn glitter in the dark on forgotten the BCT threads. Popcorn junkies strung out on a high, and I've delivered them more comedy gold, popcorn, salt and butter. There is never enough.
A dark night in a world that never sleeps and knows how to keep its secrets...But on the 12th Floor of the Acme Building, one man is still trying to find the answers to life's persistent questions: Guy Noir, private comedy gold surveyor.
Thank you, Narrator. Now, as I was saying, Ethereum is overloaded with gold. But the core is pretty straightforward:
Ethereum promised "smart contracts". Immutable. Turing-complete. This was what Bitcoin lacked. The bee's knees. Crypto 2.0. What could go wrong?
We'll skip over the "Inthereum" period. Perhaps the vaporware criticism was never fair: from their version, they had Proof-of-Concept code; they went through some iterations and eventually got to release.
Let's note clearly that there was plenty of time to determine some sort of official policy for what to do about a buggy or improperly written contract losing money. In Bitcoin, every hack has been a SFYL event, although it’s true that a bug in the coin itself was hard forked away before. Mt. Gox tried to blame malleability, but there was never a fork to try to recover funds. In Ethereum, immutability was often talked about. So far as I saw in skimming, “what if” scenarios to undo bugs wasn’t brought up front-and-center. Nor was immutability being debated that I saw.
So Ethereum releases. A major contract is launched, The DAO, which gets an astonishing portion of ETH invested. The world's largest crowd sale as they ultimately called it. All the major players in ETH buy into it, including Vitalik Buterin, the creator of Ethereum and the best name in cryptocurrency.
Just as they're starting to get into the comedy gold that The DAO doesn't really have a purpose, a bug is discovered. And just as its leader is assuring everyone that no funds are at risk, the funds start being drained out of the contract by an unknown party.
And suddenly immutable means "immutable unless we screw up on the biggest contract which everyone important has invested in heavily". Ethereum ultimately hard-forks to return investor funds and basically unwind The DAO. After claiming that the bug was in the contract, the coin itself is hard forked to fix the issue. And the first Ethereum clone results, one which simply does not follow the new hard fork.
So the natural question is: when can a contract be changed? In the first page of the Ethereum launch, this question was implied by asking about what would happen if there were an assassination market hosted by a smart contract on Ethereum. Of course, in reality, Ethereum is not really functional enough at present to enforce such a contract, but the question remains in case Ethereum were to actually attain a functioning smart contract platform.
Attempted reference to Tears in rain monologue, credit to Rutger Hauer
Guy Noir and narrator text lovingly stolen from Prairie Home Companion's Guy Noir, by Garrison B. Keillor.

Researcher’s Rant

Filed for psych eval
Twenty pages into the BCT ANN, I believe I have contracted cancer, again. I’m reminded of why I don’t generally go on BCT. As bad as altcoin forums tend to be for their circlejerking, it’s almost better than the, well, there’s really no way to put it other than FUD that inevitably appears in response to anything. Of course, it’s not paid shilling so much as it is willful and vocal ignorance. For all the critiques in that thread, most of them are utter nonsense and simply are misreading the initial information. On the other hand, it’s January 27th in the thread by now, with February 1st and the pre-sale start, and they don’t have their “prospectus” up yet. I also haven’t seen the change in mining rate yet.
Side note: eMunie; wtf? I guess I missed something? Either it’s gone through a namechange or it’s dead, because a quick coinmarketcap search didn’t find anything. A comedy gold mining project for another day.
Great; spoiler alert: fundraiser delayed apparently, so even more cancer to read through in that thread on the way to getting to a prospectus!
The first 44 pages of the thread was summarized thus: “I want to believe. Why are you not speaking to us? Throw me a bone. Just tell me what I want to hear, and I'll gladly throw my money in.” [ 5 ] Would that I had only had to read that quote rather than all 44 pages, and facing many more.
Pages and comments dragged on as I waded through the low-grade popcorn. When would this prospectus be released, so my torment would end? Oh god: a side-thread shows that by the time they get to April, there’s still no prospectus or presale date or estimate of when there may be a date [ 6 ]. It’s time to give up on reading through the cancerous mainthread on BCT and start jumping ahead pages to find the pre-sale and prospectus.
Okay, finally, in July, they release documents and start the sale [ 7 ]. Good enough.
I have mountains of links on my desk. Comedy gold is overflowing, but this is a survey expedition, not a mining operation. But by the time it’s surveyed, there’s always so much gold lined up to mine it gets hard to leave it behind and leave with the samples.
It’s time to hammer out some copy and close this file.
Folks, we hope you’ve enjoyed this descent into madness and comedy gold brought to you by the Comedy Gold Survey Company and our patron Tyler Durden. Do you need more comedy gold in your life? Of course you do! So please donate today; every $1 helps! I’ve added a new special: $5 lets you choose the next coin to be surveyed!
Thanks again to Tyler Durden, and I will now be re-watching Fight Club and questioning my sanity. Cheers y’all!
Resources:
Edit: 3/26/2020: Removed a link to a comment per request from the user.
Footnotes and other links:
submitted by coinaday to Buttcoin [link] [comments]

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