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LOEx Market Research Report on July 22: BTC has failed to break through $9,400 in the past three weeks

LOEx Market Research Report on July 22: BTC has failed to break through $9,400 in the past three weeks
[Today's Hot Tips]
1. [Summary of the main points of the Filecoin Miners Conference: 100,000 F rewards will be distributed to the top 20 miners]
On July 22, the Filecoin miner community teleconferencing was held at 9:00, Beijing time. The main points of the conference are summarized as follows:
  1. The hashrate in the reward test is calculated based on the original byte storage, regardless of the difference between real data and verification data.
  2. An important standard for reward test is the success rate (pass/fail rate) of real storage transactions. To obtain test rewards, in addition to meeting the ranking requirements, you must also ensure that the transaction success rate is higher than a standard (standard details to be determined).
  3. The life cycle of the sector miners must ensure that they can convert the committed space into the storage of real customer data through sector upgrades.
  4. The newly added 100,000 F rewards in the reward test will be packaged and ranked according to the whole network block, and will be distributed to the top 20 miners with reference to the reward structure of the main network.
  5. The real trading in the reward test will be completed by the official trading robot, which will be deployed in Europe.
2. [Vitalik Buterin: Even if the expansion problem is no longer so important, PoS is still very important]
On July 22, some Twitter netizens said that the Ethereum Gas fee increase has become ubiquitous. Although some developers said that the Ethereum beacon chain will be launched in November, it will take several years to completely solve the problem. Some netizens also said that the Ethereum Layer 2 expansion protocol, such as Optimistic Rollups and zk-rollup, has done a good job, and may not need ETH 2.0. In response, Vitalik Buterin responded that even though expansion is no longer so important, PoS is still very important.
3. [OMF is about to usher in the cloud mine halving]
According to news of LOEx on July 20, OMF (OrtaMineFund) official plan, OMF is about to usher in the cloud mining halving, and all OMF angel holding smart cloud mines will be halved.
[Today's market analysis]
Bitcoin (BTC)BTC rose slightly from around 9340 USDT in the early morning, rose to 9388.19 USDT and then fell slightly. At present, BTC continues to trade sideways around 9370 USDT. Mainstream currencies basically followed the trend of the market, rising slightly in the early morning and then fell slightly. BTC is currently reported at 9364.7 USDT on LOEx Global, an increase of 0.30% in 24h.
Let's take a look at the data on the LOEX main board. The mainstream currencies that have been declining before have generally seen a rise of more than 1%. 1% is insignificant, but it may be a signal for the upswing horn to sound, after all, this round is an overall rise.
Although the $9,000 support level has remained strong in the past 50 days, any slight negative indicators will attract more attention from the media and authorities. BTC has been unable to break through the $9,400 level in the past three weeks, leading some analysts to doubt the possibility of a positive breakthrough.
We must beware of the increase in the main version, so we must pay attention to its continuous volume performance. If it is an immeasurable increase, it is not necessary to chase it; if it is a continuous increase in volume, we must prepare for the second wave of market launch expectations, and be prepare to attack at any time. So we have to be patient and wait and see.
Operation suggestions:
Support level: the first support level is 9200 points, the second support level is 9300 integers;
Resistance level: the first resistance level is 9400 points, the second resistance level is 9600 points.
LOEx is registered in Seychelles. It is a global one-stop digital asset service platform with business distribution nodes in 20 regions around the world. It has been exempted from Seychelles and Singapore Monetary Authority (MAS) digital currency trading services. Provide services and secure encrypted digital currency trading environment for 2 million community members in 24 hours.
https://preview.redd.it/djguck53occ51.png?width=610&format=png&auto=webp&s=c5ad3414edbb6c1fd4e33e6d1fe6fa270d5ae267
submitted by LOEXCHANGE to u/LOEXCHANGE [link] [comments]

Weekly Update: 1 Million ParJar Tips, Fantom.finance, SelfKey Mobile Wallet, Sentivate Social... – 6 Mar - 12 Mar'20

Weekly Update: 1 Million ParJar Tips, Fantom.finance, SelfKey Mobile Wallet, Sentivate Social... – 6 Mar - 12 Mar'20
As Coronavirus (COVID-19) wreaks havoc across the world, we hope that Parachuters are safe, at home and healthy. This has been a difficult few months for everyone. But we will get over it. So let’s spread some good vibes with an update filled with awesome news from the Parachuteverse. Here’s your week at Parachute + partners (6 Mar - 12 Mar'20):

Starting off with a biggie. This week we crossed 1 million ParJar tips with a grand party in the Tiproom that left heads spinning and massive hangover. Haha! Click here for a sneak peek into the madness. Those who missed the party, woke up to 30k+ messages. And that happened within a couple of hours only. Wild! If that wasn’t enough, the TTR crew followed it up with a tiproom tipbattle with 6 teams (10 members each) fighting it out. Click here for the team lineups and rules. What ensued was a whirlwind comprising 80k+ tips. Double wild! LordHades shared the latest #FPL update according to which Novelcloud has now crossed LH to take second position. Alexis continues to be on top. If you’re already on BAGS token’s Dirty Bags platform, don’t forget to check out the Parachute posts over there. If you’re not on it yet, there’s $BAGS prizes for Parachuters who sign up. Bose’s random trivia in TTR got folks scratching their heads for answers.
A Gian food pic after ages. Though not cooked by him. Peruvian chicken. Yum!
Alejandro hosted a free-for-all CoD flash game in the Parachute War Zone followed by a battle royale. Congratulations to Clinton for being awarded the Bronze Seal of Transparency for his charity. GamrB0y’s trivia in TTR this week was based on science. Victor hosted a TTR quiz themed on MetaHumans. Charlotte’s math trivia was uber fun as always. Jobchain crew sponsored 750k $JOB as prizes for a round Robot Rise in the ParJar Gaming channel. Cap held a flash Parena this week. If you haven’t been keeping a tab on Parachute, you just missed on scoring some sweet $PAR. Like Achilleas almost did with his top prize. He won the finale but wasn't around to claim his 1st prize. So Bose snagged the winner’s spoils. But Cap being Cap made sure he didn’t miss out either. For Two-for-Tuesday this week, Gian got Parachuters to post music videos "featuring bands or songs that have a food or drink in their name". Like always, Sebastian was kind enough to compile a playlist with everyone’s posts. A flurry of beta testing activities related to Transak (fiat on/off ramp for ParJar) and swapping flung into action this week. For this week's #wholesomewed, Jason asked Parachuters "to draw a fierce non-existant creature that you would like as your champion in a parena".
What an amazing view Alexis!
In this week’s educational posts from aXpire, COO Matthew Markham wrote about the state of the legal tech market, the E-Billing industry, why legal billing software matters and artificial intelligence in law firm software. For the latest update video, click here. Still not sure what aXpire is all about? Check out their token overview and business presentation. The weekly 20k $AXPR token burn went ahead as per schedule. Insights from 2gether’s consumer report were published in a Cointelegraph article exploring women’s usage behaviour in crypto. For the full report on female users, click here. Euro deposits on the platform were briefly paused and subsequently restored because of a third party dependency. Upgrades were made to the $BTC transfer mechanism as well. But a high traffic issue led to a temporary stoppage of the crypto purchase feature. Birdchain released its 2 year roadmap. Few weeks back, we shared news of $BIRD being listed on Probit. CEO Joao Martins talked more about it in his video podcast this week. Probit also started a stake and earn event for $BIRD holders. Ethos’ parent company Voyager is now a sponsor of Scott Melker’s (The Wolf of All Streets) new podcast. For the latest Switch update, click here. Fantom announced the pre-launch of Fantom.finance which will be an end-to-end DeFi suite of products. The project has been killing it on its socials. Want to see proof? Check out the social metric graph mapped by LunarCRUSH. Michael made a weekly update video to catch up on all the latest news. Click here to read the latest technical update. Fantom also announced its involvement in Fusion Protocol’s decentralised custodian solution DCRM Alliance.
Interesting insights from 2gether’s female crypto users report
The new XIO website layout and a new set of article were released this week. Zachary did a deep dive into the new stuff with a 40 minute video. For this week’s #XIOSocial discussions, Citizens talked about underrated qualities of successful entrepreneurs and about progressive decentralisation. DigiByte joined Uptrennd this week with their own community on the platform. Uptrennd crew marked the occasion with a cool giveaway. Looking to join the team? Don’t forget to apply for the open positions. How has the platform been fairing in the last 3 months vis-à-vis other platforms? Check out the numbers. Plus, congrats on crossing 70k members. YouTuber Chico Crypto joined Uptrennd this week. District0x’s weekly update covers news such as the new District Designer, latest Dapp Digest etc. Meme Factory launched a new contest. Hydro integrated Plaid’s account verification and aggregation services to its platform this week. This was followed by additional integrations with KYC provider Onfido and financial data provider MX. Silent Notary crew has created a new fund for pursuing IDL’s listing opportunities. Looking for human connections during the Coronavirus lockdown? OST’s Pepo app now has a dedicated community channel for this. SelfKey’s Mobile Wallet was launched this week. CoinLoan joined SelfKey’s crypto lending marketplace. Moreover, crypto exchange Bitkub was added to the exchange marketplace. Plus, the team compiled a list of data breaches at Facebook.
The new Crowdstaking graphic explains how it is different from crowdfunding
Realtime market widgets and downloads page were added to the Sentivate social site this week along with a ton of other upgrades. The beta test of the platform has also been a success on Windows and Mac. The browser build is ongoing with a naming contest to begin soon. If you have been keeping your eyes open, BAGS crew have been hosting some fun quizzes in the Dirty Bags channel for $BAGS prizes. Make sure to have a look when you have a moment. Last year, around this time, Pynk won the startup pitch competition at Wolves Summit. This week, CEO Seth Ward and COO Rupert Barksfield shared 8 tips for aspirants. The community also discussed about Facebook’s Libra Alliance this week. CyberFM started a special playlist on the Spotlight Channel to celebrate Women’s History Month. Harmony showcased its transaction speed and fees compared to Ethereum through a video demo. Plus, a fast finality demonstration. Click here to read last week’s #pow thread. If you would rather watch the video update, click here. Founder Stephen Tse shared some more updates over live videos (1, 2, 3, 4). And kudos for being the most active project on GitHub last week. The crew sat down with Vite Labs for a community AMA. The roadmap towards launching Open Staking was published. It is currently in the second phase out of four phases. Testers and hackers were welcomed to participate in Stake Heist - try and break the open staking design on the Pangaea testnet for 10M $ONE tokens in prizes.
The Sentivate social site community dashboard looks fresh!
Intellishare founder Raymond Xiong will sit down for a community AMA next week. Folks who sent in questions could win 50 $INE tokens as well. GET Protocol’s GUTS Tickets featured in a list of recommended portals for safe ticket purchases by the Netherlands’ Police. As part of its ticketing transparency standards documentation series, developer Kasper Keunen wrote about nodes this week. The $COTI conversion bridge has been reopened with some limits to ensure fair chance for everyone looking to convert from mainnet to ERC20/BEP2 tokens. For the latest newsletter, click here. The new COTI explorer was released as well. Apart from simple wallet-to-wallet transactions, it also tracks merchant txns, bridge txns etc. The dev team also released a detailed article explaining its multi-currency (MultiDAG) framework. For the token deployment demo, click here.

And with that, it’s a close for this week in Parachute! See you again soon. Bye!
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Survivors of market disasters: In this disaster, some people actually made money

There is no need to repeat the tragic market. Various historical figures are present, and they all reveal a signal: this disaster is like an earthquake with no warning signs. The victims are everywhere, and the survival is a fluke.
But in this disaster, there are still people who make money.
If you still have the impression, on August 23 of last year, there was a problem with Amazon AWS 'server in Japan, which caused the products using the region's services to be affected to varying degrees, including the cryptocurrency trading platform. After discovering a problem with Binance using AWS, the user's deposit and withdrawal were suspended, but the trading platform using the Binance Quotation API failed to take timely measures, resulting in loopholes in market makers' strategies.
That day, while Bitcoin was still steadily maintained at 10,000 USD, some users bought Bitcoin at a unit price of 0.32 USD, and when there was almost no fluctuation in the market, they used the mistake of the server to add western food for the night. A bottle of champagne.
In this disaster after 5 months, some people still use the environment to find a way to survive.
Ethereum 0 dollar purchase?
A $ 0 purchase of Ethereum happened on March 13. The market plummeted, many mortgagors' positions were exploded, and ETH fell from $ 180 to less than $ 100 without resistance. The decentralized Defi market that depends on the value of ETH is naturally not immune, such as the MakerDAO platform. MakerDAO's borrowing logic is that users over-collateralize ETH to lend USD stablecoin DAI, but when the value of ETH fell rapidly, a large number of loans fell below the threshold and the system had to be liquidated. In other words, the user's loan was not repaid. Mortgage of ETH is also not available.
So MakerDAO has a bad debt, the amount exceeds USD 4 million. In order to repay this bad debt, MakerDAO chooses to auction the collateral, that is, ETH, BAT, etc., and uses the stable currency DAI to bid. They need to use the auction proceeds to obtain repay loan.
Under normal circumstances, such auctions are not too accidental. The feeding system reports the current price of ETH, and the bidders will probably trade at a price slightly lower than the market price.
However, the background of this auction is the market's plunge. The transaction caused investors to intensive operations, which blocked the Ethereum network. It takes far more than usual gas fees to allow the miners to confirm the transfer as soon as possible.
According to the browser, on the morning of the 13th, if only 44 gwei is used, the transfer confirmation time on the Ethereum network will take 72958 seconds, which is 20 hours.
The MakerDAO debt auction on the Ethereum network has also been affected. The blockage of the network has prevented bidders with low gas costs from bidding in time, which caused participants to bid 0 DAI / ETH to drop the hammer.
It can also be seen from the transaction records that the auction of 0 DAI was indeed successful. These lucky bidders only paid a transfer fee of US $ 1 and transferred 0 amount to obtain an ETH worth US $ 122 at the time.
These people are undoubtedly fortunate. The external environment helped them to become the only game participants. The exchange of $ 1 for $ 120 and a profit of 11900% was much higher than the odds of players who risked bottom-swinging in fluctuations.
However, from another perspective, MakerDAO's auction is to use the DAI obtained from the auction to pay off debts. However, due to network congestion, this situation has caused several free gifts, and MakerDAO's debt repayment is even worse.
Pick up goods by luck
If it is said that MakerDAO launches the auction, it is a helpless action of the team under extreme conditions. Bidders still need a bit of technical barriers to participate, but there is nothing to worry about, and there is almost no difficulty and cost.
On the evening of March 12, investors discovered that the LINK / USDT trading pair of the Binance trading platform experienced a short-term flash collapse and once fell to the bottom 0.0001 USD. What's going on?
Twitter netizens then asked Zhao Changpeng about the matter, and the latter's response was a shock. It turned out that someone had already launched the LINK trading pair as early as Binance, that is, on January 16 last year, a low was hung within 8 seconds after the real-time trading was opened. Price list, but it has not been closed because no fool will sell it at this price.
Unexpectedly, more than a year later, this pending order was sold "strangely". "At that time we had no price range restrictions. We will not cancel user orders." Zhao Changpeng said that the platform will not deny this order because the operation is completely reasonable.
It will not be rolled back for various reasons. In other words, even if LINK has experienced a large decline recently, at the current price of 2.3 US dollars, the profit of this transaction will exceed 2 million US dollars. US dollars, then he instantly won nearly 5 million US dollars.
The cost of 100 dollars, the income of 2.4 million dollars, a real profit.
In fact, similar examples of this kind of luck are not rare in the crypto industry. Except for Binance and the previous examples, BitMex and OKEx have also experienced similar situations, and more than once.
For example, on December 6, 2017, Binance's XRP / BTC trading pair experienced a breakdown of the list. In a very short period of time, the XRP price was oversold to 0.0000002 BTC, which is basically negligible. On January 29, 2018, the price of the ADA contract on BitMEX also fell to 0.00000005 US dollars, which was also nearly 0; another trading platform, OKEx, also saw a large amount of 0.002 USD on January 14, 2018. Case, according to the official statement at that time, "a certain trader" quickly sold a large amount of ETH through market orders within 12 minutes. Interestingly, at the time, some people analyzed that "a certain trader" was actually an official market-making robot, and "a large amount" of 100 million Ethereum was eventually sold for 20 dollars.
However, for ordinary people, if you want to encounter this kind of opportunity for leak detection, unless you are bored and place an order in advance, such a price is fleeting, and you ca n’t seize the opportunity simply by hand speed. In fact, at present, many trading platforms have actually adopted corresponding price amplitude filters, which specify the maximum / minimum price range of pending order prices. Oolong trading is very rare. Even if luck hits and catches up, it is very likely that the platform will intervene and the transaction will be rolled back. This situation has not happened before.
Only this time, the trader who had placed an order on Binance for more than a year, even if he successfully leaked and successfully withdrew the coin, it can only be said that he hit the Grand Canal.
Safe moving of bricks
Buying a certain kind of token on a crypto trading platform, and then selling the token to another trading platform, earning the price difference is a moving brick in the crypto circle. Moving bricks has been an arbitrage behavior since the birth of the transaction. It belongs to a very old business. Arthur, the founder of BitMex, who now operates a trading platform, and Xu Mingxing of OKEx, were once members of the army of moving bricks. . This kind of brick moving was the most prosperous at the end of 2017. At that time, trading platforms such as Bithumb in South Korea also called the "Kimchi premium" due to the price difference between other platforms. Moving bricks is a kind of risk-free arbitrage. Players use energy to gain profits, although the single profit is not much. However, with the maturity of trading robots and quantitative trading teams, the spread of tokens between multiple regions or platforms is often wiped out in a matter of seconds. Therefore, the profit margin of manually moving bricks is now very small.
Of course, it is not to say that there is no opportunity. Such an opportunity to make money is indeed hidden under the volatile market.
"Buy at a low price and sell at a high price, this is simply the most secure way to make money in a plunging market!" Investors are excited about cryptography. Starting at 6:30 pm on March 12, cryptocurrencies have experienced sharp fluctuations, while Binance and Huobi When the bitcoin spread between the three trading platforms and OKEx was the largest, it even reached more than 700 US dollars. The discerning player quickly discovered the opportunity, "For half an hour, I made more than 10,000 with a principal of 20,000 yuan. Such an opportunity is usually not available."
Buy and sell orders executed by the above investors at almost the same time, with a spread of nearly $ 450
When it comes to moving bricks, time is money. It is definitely too late to shuttle between multiple trading platforms. Many investors have now transferred the "battlefield" to the platform that focuses on aggregated trading. "The aggregated trading platform integrates the depth of multiple platforms. As long as there is a price difference between supported platforms, users only use One account can be bought and sold on multiple platforms, and it can be operated in a few seconds. "Wu Ling, who seized the opportunity from the extreme market in these two days, made nearly 50,000 by moving bricks in just a few hours. Yuan, the principal is no more than tens of thousands of yuan.
It is understood that there are already multiple platforms targeting the aggregate trading business on the market, and the opportunity to move bricks does not often appear, unless similar to the extreme market appearing in the past few days, or some unique tokens, there may be soaring and plunging. Opportunities, as a whole, are not met a few times a year, and they are fleeting.
However, whether it is MakerDAO auctions, ultra-low-priced pending order transactions, or arbitrage moving bricks under the new situation, these opportunities to make money are actually small probability and cannot be used as conventional investment methods.
These seemingly easy profits are in the end a few people. Many people are trapped in extreme quotes in stuns. Most investors have no assets left on the trading platform overnight.
Maybe this also makes many investors lose confidence in the industry, but in fact, in the face of such a market, after finishing our mood, we are more learning from changes.
Learn the reasons for this disaster, learn the logic of the main control panel, learn what signals were ignored before the disaster, and prepare for the next time. At the same time, we can also see the development of the industry. For example, when all centralized trading platforms are down, DEX can still be implemented despite various problems.
I hope that everyone still has confidence in the blockchain and cryptocurrency industries. Finally, I would like to remind everyone that the recent market changes are unpredictable. Please pay attention to risks and exercise caution.
submitted by FmzQuant to u/FmzQuant [link] [comments]

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Proposed method to email crypto-coins directly.

Below are some ideas I have been working on to allow direct off-blockchain transfer of Bitcoin Private Keys while preventing Double-Spend and Counterfeiting . There is a reference to tamper-proof Physical Bitcoin as DA BOMB- Directly Available Bitcoin On Metal Banknotes. These Physical Bitcoins and their digitally encrypted representations are the basis for off-blockchain exchange of value. Off-Blockchain exchanges are completely private and as fast as sending an email.

FAST BITCOIN

Daily settlement between corporations, instant settlement on trading or funded shopping channels, physical bitcoin possession for investors .
Each platform which offers FAST BITCOIN will purchase a large amount of DA BOMB to power their digital envelope re-sale network. All networks will be compatible and fungible assets composed of.
When a customer places an order for DA BOMB I load a certain amount of BTC in various denominations onto a selection of bitcoin wallets, which are then manufactured as physical bitcoin.
This amount of BTC is the amount this customer can spend on the FAST BITCOIN network.
The Bitcoin the customer spends never moves on the BTC Blockchain.
The envelope containing the customer’s BTC is credited or debited a certain combination of addresses that contain a known amount of BTC, adding up to the exact amount of the transaction.
Transactions can only be made in ROUND NUMBERS of a certain resolution, such as 0.0001 BTC , and the resolution will be finer at a later date to account for the rise of value of BTC in the future.
The contents of a customer’s envelope will be maintained to allow for making change and to account for his spending or funding of his account.
The main issuer of FAST BITCOIN will be Satoshi Bitcoin Incorporated, with other platforms buying enough DA BOMB to issue their own FAST BITCOIN on their own shopping platforms.
Customers can always write to the platform and request that their remaining envelope balance be mailed to their physical address.
The envelope contents are tracked on a separate blockchain, the FAST BITCOIN blockchain.
Customers can use their physical bitcoin like paper money, or break the hologram seal and view the private key to use as regular bitcoin on the bitcoin blockchain.
Only TRUSTED NODES are on the FAST BITCOIN Blockchain. The Network is composed of the corporate members who offer FAST BITCOIN shopping at their websites, and join by invitation only. Large networks can fuel their own branded shopping tokens with FAST BITCOIN after paying a co-branding fee, or simply use FAST BITCOIN without re-branding to their own token name.
Software can equate all prices at a website to the token value of choice on the platform, so that the shopper may make purchases via FAST BITCOIN while referring to prices in stable fiat equivalent tokens, or re-branded token values.
The customer’s purchasing power varies with the price of Bitcoin, but the visible prices remain stable.
The customer may buy a StableCoin (not Tethers) to fund all or part of their account, or switch from BTC to StableCoin at will; or let the system do this for him. BTC going up, funding remains in BTC, BTC going down, Funding switches too StableCoin.
A purely electronic version of FAST BITCOIN will rely on a hardware device to store the private keys offline and always in encrypted form when connected to the internet.
There is object “A” : the FAST BITCOIN Wallet
There is object “B” : the individual private keys
The system works with a combination of Master System Key Encryption and Asymmetrical Key Encryption.
The Hardware device is called a SPLIT WALLET. It is a combination of a HOT WALLET and a COLD WALLET. The two halves of the split wallet can only communicate with each other when the device is unplugged from the device being used to access the Internet.
The Master System Key resides on the Cold Wallet and can’t be viewed without destroying the function of the Hardware Wallet.
To send bitcoin to a person on the network, the hardware wallet takes the addresses needed to add up to the desired amount and encrypts them with the PUBLIC KEY of the receiving device.
The BITCOIN CASH BLOCKCHAIN is used as a KEY SERVER to store the PUBLIC KEY of every device manufactured, linked to its registration number and owner identity. The OWNER IDENTITY is an EMAIL ADDRESS which is [[email protected]_BITCOIN.COM](mailto:[email protected]_bitcoin.com) .
The addresses are encrypted by the SYSTEM MASTER KEY , then by the RECIPIENT PUBLIC KEY and emailed to the above email address.
The whole network is sustained by a peer-to-peer email remailer network. Software on the machine used by the hardware device to connect to the INTERNET is designed to run a peer-to-peer email remailer node.
As well as sending the recipient an email via the re-mailer network, an entry is made on the BITCOIN CASH BLOCKCHAIN containing the double encrypted bitcoin private keys, recipient email address, and transaction identifier . This also contains the device registration number as part of the owner email address.
Thus even if the domain is blocked from sending email the information needed to use the bitcoin is available from the data stored on the BITCOIN CASH BLOCKCHAIN.
The value of Bitcoin Cash does not impact the cost of sending bitcoin, since the transaction sizes to record data on its blockchain are very small.

When FAST BITCOIN is sent to a recipient, he must plug his hardware device into a laptop, phone, or other internet device to download the keys to the device. At this time while the hardware device is still connected to the internet the just received FAST BITCOIN will not yet be available to spend. It will show on the device as STILL ENCRYPTED. The user unplugs the device from the internet and then transfers the amount from the COLD SIDE to the HOT SIDE of his wallet while offline. If he wishes he may leave this amount on the COLD SIDE or transfer up to the entire contents of the SPLIT WALLET to the HOT SIDE to enable immediate spending as soon as connected to the internet.
The COLD SIDE contains the SYSTEM MASTER KEY and decrypts the PRIVATE BITCOIN KEYS in order to enable spending.
The hardware device checks the bitcoin blockchain to verify the amount of bitcoin held by each bitcoin private key, and also checks that the private keys it contains map properly to the public bitcoin keys used to view the balance on the device when it is connected to the internet.

DA Bomb

Directly Available Bitcoin On Metal Banknote (Da Bomb)
Bitcoin Metal Wallet Cold Storage on BTC Blockchain. A Crypto-Currency version of money, which may be exchanged for fiat currency.
Other major cryptos such as Ethereum , LiteCoin, and Bitcoin Cash may be substituted for bitcoin without affecting the usefulness of this offering. These versions will come out later, using the same physical format. (hopefully patented)
The design of the card should be modified enough from any existing patents to be patentable itself. The manufacturing, loading and documenting of the card should be done by proprietary and open-source software. This process should be patented as well or be part of the same patent.
These are physical BTC coins, in the form of a metal card the size and shape of a credit card. The Bitcoin Wallet is composed of two sets of engraved alpha-numeric and QR codes highlighted by black ink. One set is public and is on the outside of the card. A pull-tab almost exactly like the kind on a soup can is removed from the front of the card to reveal the inner contents . This is the engraving of the private key which is required to spend the BTC. Viewing it or detecting the exact nature of this code is equivalent to ownership of the associated BTC.
The public key on the outside of the card is used to deposit to or send to the card. In normal operations the card would come loaded with a certain amount of BTC.
The cards will be protected by security features and the quality control process during their manufacture.
The cards will be dipped in a coating of compounds to indicate a unique identity for each card, with short lengths of coloured fibres and paint floating on the surface of the clear lacquer compound and creating a unique visual identity. Each card is photographed and the image file uploaded to a database with the blockchain address and item id from manufacture all associated together.
A label is created and affixed to the outside of the card. On it are the blockchain address, photo of the untampered card, and amount of BTC deposited to card.
The private keys are not retained in file form at the manufacturer’s facility, or recorded in any way.
Before the key is deleted from memory and fully erased from all data storage devices, the photo of the engraving of it is compared to the key via character recognition software. When photo verifies as true then key is deleted from memory. Now the card is tracked by my own “in-house” item id, linked in the database to the blockchain address which displays the public key, and the photo file of the card. The card is photographed twice, the photo of the private key is deleted just after verifying the engraving matches the private key. The photo of the exterior of the card showing the paint lines and fibre positions on the card is kept on file. The offline computer takes the photo of the private key, the online computer takes the photo of the card after dipping.
The card is meant to circumvent the horribly high fees associated with using BTC as a payment method. Possession of the card is deemed to be legally equivalent to the ability to spend the associated BTC available via the private key. The nature of the tamper proof and hack proof aspects of the card manufacture lends credence to the continued value of the card as it is passed through consecutive transactions. The fees which would have been normally paid to enable these transactions on the Blockchain, will now have been saved by the people utilizing the physical Bitcoin cards. The Bitcoin transactions on the Blockchain are enabled by paying fees to “bitcoin miners”, who use large amounts of energy and computing power to solve complicated mathematical problems in order to process transactions and also to earn newly created bitcoins, of which there will only ever be 21,000,000. The fees for bitcoin transactions have become so high that paying for an item with bitcoin wouldn’t make sense for anything under $280 or so; and you had better be rich enough not to care about the $30 to $75 fee to buy just about any size purchase.
Instead of this, cold wallets containing small denominations of BTC can be exchanged via strong encryption and sending password and wallet via different delivery modes; or by physical bitcoin wallets.
At any time one may pull the tab on the metal card and reveal the private key, in order to obtain control of the BTC for use in a different cold wallet, or an online wallet. You will now have to pay transaction fees as per your new wallet details.
There is an instant financial advantage as soon as a group of people trust the value of physical bitcoin in transactions. All the miner fees for each transaction done with physical bitcoin are saved by the group. These transactions are valued in BTC, worth real dollars if exchanged for dollars; but with the dollar value always changing.
Volatility is a fact of life with Bitcoin (BTC), but the market has always trended upwards if you wait long enough. And the value has often nose-dived as well, in an unpredictable manner. A lot of people are holding (or “hodling”) BTC as a very risky and speculative investment, hoping the price will go up.
There is a great demand for bitcoin and that demand is going to increase in the near future.
How will I pay to load the BTC on to the cards? The cards will be loaded on an “on-demand” order process. The cards can be made up to a certain stage, where they have been dipped in tamper-proofing but not yet labeled. Up to this point they can be any denomination (amount) of BTC. When the payment for the order is taken at the online website then the card is loaded, labeled and shipped to the customer.
Besides the metal coin wallets denominated in various amounts of BTC; there will be “piggy-bank” versions of the card available. The BTC is loaded onto the card via the visible wallet public key engraved on the front of the card. The card owner can be paid debts owed to him via the public key. The card owner can send any amount of BTC to this receive address and it will become associated via the blockchain with the private key hidden inside the card. To spend the BTC loaded onto the card he will have to view the private key and send it to the hot wallet he uses online. Technical advice about fees, security, hacking and safety will be available at the company website, as well as many other helpful resources.
The denominated versions of the card are identical to the piggy-bank versions except for the label. The label covers the “receive” address on the denominated versions, as no further deposits to the blockchain are needed. The label on the piggy-bank version doesn’t cover the public key address, has a photo of the card and the manufacturer’s ID number. It also has a link to the Blockchain.info webpage associated with the public key address. Anyone with this address can see how much BTC is associated with the Public Key shown here.
Thus the intact tamper-proof BTC Card can be used with confidence, as the public key can be viewed on the Blockchain by anyone. As long as the amount on the card label matches the amount shown on the Blockchain.info webpage then the card’s private key can be trusted. This renders the card a form of “trust-less” currency equivalent to legal tender in value and usefulness .
The card format and manufacturing process is tested to obtain a hack proof product. The private key is not detectable by examination or any technical means without opening the pull-tab. This is essential to prevent theft and fraud. The card can not be opened, viewed , and sealed again.
A card without a label would be suspect, a card which had been opened and re-sealed obvious. Checking the blockchain address reveals the status of the BTC in question in any event.
The manufacturing process is outlined below:

The engraving is deep enough to be permanent but still not detected while wallet card is in closed position. The alpha-numeric and QR code versions of the keys are engraved and inked.
After the engraving, the private key is deleted from memory of the engraving controlling computer. This computer is never connected to the internet. Only verified software is used on this computer.
A separate computer controls the camera, label maker, and database connection to the internet.

The same file is used to generate the labels.
Addresses are checked for BTC before coin Cards are offered for sale. A second stamp is placed on label when transaction confirms.
Coin is offered for sale at Amazon.com if allowed.
Coins can be exchanged as if fiat currency, with full confidence in BTC amount displayed on seal.
Sale price on Amazon will reflect BTC amount cost when loaded- possibly a great deal if BTC has gone up since loading, or actual cost of production plus 2%, plus miner fee and distribution fee.
Savings could be significant if BTC surges in value after coins are minted. coins are bought at time of minting by purchases of BTC at market price.
“Would you like to buy some free money?”
Demand for product is assured, as the value once for sale at Amazon increases over time. You will not be able to find cheaper bitcoin anywhere, sometimes. A small portion of my stock at Amazon will remain on sale at a very low price when the Bitcoin price rises. I plan on adjusting the price of my stock to reflect the current price of Bitcoin at the time; but not all of it, and not immediately. Every time the price of BTC increases by 10%, I will reset the price of my cards to initial values.
The initial values are the current price of BTC plus 2% , miner fees and distribution costs. As the market price increases after loading the cards, they are more and more of a deal for the customer.
This forms the basis of a great promotional value to sell the metal card coin wallets.
The profit.
Profit is calculated to be 2% of the BTC value when minted. Values from 0.001 BTC to 1 BTC are minted. This generates from $0.18 Cad to $180 CAD per card depending on value. I will focus on minting in the 0.01 to 0.11 BTC range, with profits of $1.80 to $19.80 a card.
customer pays: Cost of BTC when minted
miner fees, distribution fees, 2% over cost fee, Cost of manufacture. I estimate all costs not BTC or profit to be about $11 Cad per card.
Price of card is: BTC cost + 2% + $11.00 .
After purchase the card can be traded for cash, items or value of services. Miner fees are saved by every person after the initial purchaser of the card.
I want to mint around 1000 cards a day. This averages out to $18,000 profit per day.
The plan is to produce only lower value coin wallets until cash reserves are big enough to pay for larger denominations.
Customers can order from the lower denominations in stock or special order cards of any amount that they pay for at the time, shipped after production on demand.
This involves simply loading the customer’s purchase of BTC onto the card address and attaching the label.
As the price of BTC rises then stock available and loaded previously will be a special discount offer until the price resets after a ten percent increase in the BTC market value.
When selling the BTC coin metal cards at Amazon.com :

Card is dipped in clear sealer with paint filaments floating in dip tank. Also small lengths of coloured fibre are floating in the resin coating. The unique pattern formed is photographed and printed on label stored in database with item number. Private key is not stored.
Sell in vending machines in Japan, Airports,New York Subway System, Pizza Hut, etc.
On the Directly Available Bitcoin On Metal Banknote (Da Bomb), the blockchain webpage address of the public key is displayed. To check that BTC are in the account, just go to that page. Unless tampered with, BTC amount will match that shown on label.
Full label is artwork, denomination in BTC, photo and blockchain.info webpage address associated with public key.
This idea is patentable due to the unique packaging of the cold bitcoin wallet in a pull-tab metal card. In this writing read “coin” as “card” as well. The card is evolved out of a sardine can with a pull tab lid closure, with very short sides and pressed flat all around the edge.
The goal is to have a design where the pull tab can easily be removed by an adult. It should be hard for a child to open without being shown how. The card should be only slightly thicker than a regular credit card, and not open while in a leather wallet’s card holder.The pull tab should not open accidentally while being carried in a wallet. The pull tab will be manufactured so that it must be rotated by 180 degrees before opening. A small screwdriver, nail file or fingernail must be placed into a small slot to twist the pull tab into the correct position to open, before this it is restrained by a shallow metal lip on the top of the card.
Research and development are required for this idea to be a success. The manufacturing process, security features and bitcoin loading and labeling must all be tested and verified as hack and tamper-proof. The customer must never receive a hacked or empty or unloaded card after purchase and delivery.
Attempts at fraud by the customer will be obvious. Only Intact cards will be accepted for refund. Product must always ship in perfect condition, as customer can only return intact card for full refund, no opened, missing or tampered with cards will be credited to customer for refund, and this will be part of the agreement with the customer at time of purchase. Before refund the balance of the card must match the denomination on the label.
Notes on manufacturing process:



In the above I refer to not recording the private keys and deleting the server records as soon as the cards have been manufactured and checked for accuracy. please note that the recording of the private key for a certain amount of DA BOMB is required to power the FAST BITCOIN encrypted private key network.

thank-you
submitted by bubbleHead3 to emailcoin [link] [comments]

High Risk: changelly steals my 3.3BTC ($30k USD)

I wish to start this by saying, that I am seriously sorry for anyone
here in this sub reddit that got tricked into the same trap.
Before that, I would have never thought that an "automated" exchange trade could fail so bad
that it would even influence my own health.
For me it is like destroying all my future plans and dreams at the same time since I will never be able to
make this amount of btc back.
Like most of us here I have started using changelly this year because of the low fees and high limits.
What I did not know at this time, was that they have been keeping an close on all my transactions from the beginning this year.
I have been testing and experiencing various services, but changelly is the only one who
is not near what they appear to be. On their website they claim to be this automatic, fast, reliable and instant
robotic exchange, but in reality they are sitting right in front of it, selecting their next victims.
At the day I got scammed by them, they have first let me exchange 0.4 bitcoin to monero, a few moments later 1 bitcoin to monero and finally a few minutes later at my 3.3 bitcoin to monero exchange on 28th of march they have decided to keep my money since then.
Tomorrow I will complete 30 sleepless nights.
http://prntscr.com/jawqnw
(their website messed up the transaction history order)
These guys does not warn you or anything, you cannot simple decided to stop using their service before or after they claim your coins.
You can also not get a refund like on any other exchange. After they have decided to steal your coins into their profits, you will face impossible questions and delays. You have to imagine, after using the same wallet since last year and many of the coins already went through their exchange service, they still force you to proof that you are the "real" owner of it.
My own mistake was that I trusted them by exchanging 3.3 btc that they are stealing without a doubt.
I send it for exchanging and not for them to hold it. they are holding them as hostage against my will.
Without a warning about KYC or similar on higher amount they do not process you transaction
and force you todo an impossible KYC, which makes you feel like a real criminal.
I would like to mention that I have sent them my selfie holding my id with an reasonable explanation of the initial source.
But still all they did after they stopped responding is that they kept asking for another impossible thing or two and another selfie and continue treating me like an terrorist.
Let me tell you that Im still 18 and I wished never to have shared my face in combination
with my btc holdings. In this case you cant even complain in the future since this company, changelly, have no address or number.
One thing in this process which makes changelly a 100% NO GO for anyone should be the fact that
compared to other exchanger like shapeshift they do not return your money.
Yes, exactly after several attempts trying to get them to return it to the initial wallet,
they "hold" your crypto, which is another way of claiming them.
We all know, if you hold your crypto, you own your crypto.
"No deposit storage and instant money exchange." is what they claim in their FAQ but it is a complete lie as you know now.
Why not simple return the funds and close the accounts like any other normal service?
Why should I start revealing my family member which have gifted me 4k$ usd worth in btc back in 2015??
Stop this madness and give people the choice to quit your service!!
I am talking about no fiat involved, only crypto to crypto, gifted bitcoin back from 2015.
If this is not a trick to steal my btc what is this then? a fine robbery in front of my face!
4 total weeks of asking them to send it back should tell you their real intentions with their service.
this will not be one these reddit posts where you will see me saying "oh nice thanks they sent it back", you will all see....
I highly recommend everyone to stop using changelly now or in future, if you plan to keep your coins.
There are several working alternatives, that does not collect your private informations or steal any your hard earned coins.
Please do not forget that they have zero risk exposure and are only doing this to gain more profits for themselves.
thank you changelly for making my life worse.
submitted by dinamonokokoko to Changelly [link] [comments]

USI Tech

I wrote this to a friend who attempted to recruit me into USI Tech.
heres my opinion
USI Tech has a lot of similarities with very problematic business models.
its ownership has problematic connections; it operates a multilevel marketing model that relies on the recruitment of new investors; i havent seen convincing proof that their software truly works the way they say it works.
ive found a lot of cloak and dagger having done a couple weeks of research on the company and my conclusion is that
for me personally there are too may red flags to invest. ive consumed a lot of material on the subject of their legitimacy from both sides of the argument. this is a complex question and it has a complex answer.
the objective truth of whether or not the company is a scam will be regarded as a matter of opinion until history reveals itself; as of right now you believe they are an honest enterprise, and i disagree. that is totally fine, we are both friends and we respect eachothers opinions and we want the best for one another; either of us could be wrong and it won't affect our friendship.
for me, the decision to forego the investment came from these red flags:
1.) Who. its hard to get an official document of exactly who owns the company however these are a few names that come up as people who have either seemed to own it or have at one point promoted it, all of which cast shade over themselves: Mike Kiefer, Ralf Gold, Joao Severino, Charles Scoville.
USI Tech is registered in Dubai and while that is not problematic on its own, there are devastating amounts of internet ponzis registered or operating out of Dubai, specifically foreign exchange trading scams.
2.) How. multilevel marketing. i despise MLM, i believe it is a predatory recruitment method that exploits people's hope and greed. while pyramid schemes can make money, very very very very very often the actual money making mechanism is the recruitment of new members and their subsequent purchase investments. even with a really shitty product you can make this go far so long as the hype is strong enough to feed recruitment.
my family was ruined when i was ten after my parents claimed bankrupcy over a zealous series of investments in Melaluca, an organic lotions MLM. this will always affect my bias.
3.) What. USI Tech's bitcoin product, what is it? do they offer a crypto trading software that works like their forex robot? as far as i can tell, there is no direct evidence of the actual trades that their software allegedyly engages in. my bottom line is here i can't come up with any evidence of a tangible product that truly does what they say it does which is problematic because they are offering a ROI which is apparently based on this robot's performance. moreover, if USI Tech is attempting some clever loophole trickery to avoid having registered with the SEC for selling securities, i have no idea what it is and that is alarming.
finally, 4.) Why. ponzi. if you do not know how a ponzi scheme works on a technical level, learn it, it is very simple. a multilevel marketing company out of Dubai that offers a cloaked software product raises supreme concern for me. their shelflife looks to have been extended by having added an anonymous and unregulated currency into the mix.
i don't doubt that at some level they are trying to make honest money, maybe that is what their mining operation is about. if they start offering cloud mining, that will be another red flag.
money can be made in a ponzi, i just believe its dishonest money. the operative is to discontinue reinvestment at a safe time. i cant put my btc in it because i believe it will contribute to the propagation of the business, which i believe to be malevolent.
__
for me, the magic is in bitcoin. not a robot that trades bitcoin. not a robot that trades in fiat markets.
i dont even speculate in arbitrage because the magic isnt even in the investment opportunity.
if what they say is true, and there is a robot that can consistently pull value out of crypto markets, then that is an innovative and lucrative achievement, but i don't buy it. if they use a robot to pull value out of forex, then my investment is directly participating in that system of currency that i don't trust.
you're a good dude, and obviously i have no hard feelings about your involvement, you will make money in it even which is great. like i said you can still make money in it and of course its tempting to invest so i might even buy a pack depending on how greedy i get, but my opinion isn't likely to change about the nature of USI Tech until i learn more.
submitted by beartowitness to Scams [link] [comments]

HARMONY

Harmony​ builds an open marketplace at Google-scale for the decentralized economy. This project ​aims to provide a consensus protocol over the open Internet​ at 10 million transactions per second with 100-millisecond latency and at most 0.1% fee.
Harmony’s goal is to be 1,000+ times faster and cheaper than Bitcoin and Ethereum. They are rebuilding the decentralized economy with 10x innovations in all components: transport network​ (Google’s UDP, Bloom tables, 5G mobile), consensus protocol​ (Byzantine committees, acyclic graphs, monopolist fees), and system tooling​ (unikernels, multi-core in Rust, zero-copy streaming).
As the infrastructure for the world’s data firehose​, their bandwidth must scale to 10M tx/sec to support data from supply chain IoT devices or energy grids. Yet, all of the above must settle agreements within 100 milliseconds to support instant reactions​ for autonomous robots or on-chain quotes in exchanges.
They employ technical innovations that are already proven in research and implementation. For example, Google’s UDP​ currently powers 35% of its traffic (or 7% of the Internet) with 50% latency improvement, OmniLedger Byzantine protocol​ benchmarks to 13,000 tx/sec and 1.5 sec latency with 1,800 hosts, while unikernels in Rust​ archives 10M concurrent connections on a standard 96-core machine on Amazon Cloud.

THE TEAM:

Stephen Tse – a researcher at Microsoft Research, a senior infrastructure engineer at Google, and a principal engineer on search ranking at Apple. He founded the mobile search Spotsetter with institutional venture capital; Apple later acquired the startup.
Nicolas Burtey – founded a VR video startup in 2012 that grew to 40 people and raised $10m​. Nicolas has a bachelor degree in mathematics and computer science, and a master degree in computational photography.
Alok Kothari – has worked on deep learning models for natural language understanding at Apple Siri. He has conducted research in word sense disambiguation, machine translation, and social media retrieval. Alok has published at top conference venues including SIGIR, ICWSM and EMNLP.
Rongjian Lan – a search infrastructure engineer for Play Store at Google. Rongjian is the co-chair of ABC Blockchain Foundation with 100+ engineers from Google, Facebook, Linkedin as members.
Hakwan Lau – a full professor at University of California, Los Angeles. He specializes in neuroscience and machine learning. Hakwan studied at Oxford on the prestigious Rhodes Scholarship​, was an associate professor at Columbia University, and published 90+ papers in peer-reviewed journals.
Trausti Kristjansson (Part time) – has worked at the industry’s most respected research labs (Microsoft Research, IBM Research, Google Research), founded full-stack startups and led PhD engineers at the top of their field as an engineering Director.
Georgios Fainekos (Academic Consult) – is a tenured professor at Arizona State University. He specializes in formal methods of cyber-physical systems, swarm robotics​, and machine learning for real-time planning. Georgios did his doctoral studies at the General Robotics, Automation, Sensing & Perception Labs (GRASP Labs) of the University of Pennsylvania.
Bruce Huang (Part time) – was an engineer lead at Microsoft for 7 years, a director at Alibaba Cloud and at Credit Ease. Later, he was the CEO of Madailicai, a top peer lending company in China. Bruce is a certified snowboard instructor. He obtained his master’s degree in computer science at the Simon Fraser University.
Zi Wang – worked at Google from 2006-2015 on Chrome, Google [X], Android and Nexus. He was the first Global Creative Director​ for the Google hardware division and co-founded a Google research lab with a $20M budget.
Isaac Zhang – started designing civil engineering systems at age 11. He cofounded a smart city and indoor mapping startup, Locision, that raised $20M.
Aaron Li – started programming since the age of 7 and started mining Bitcoin since 2011. He won the prestigious ACM SIGKDD best paper​ award on language topic modeling while completing his master’s degree at the Carnegie Mellon University.
Navneet Singh – led mobile engineering at Google for 6 years. He has also been the Senior Vice President at the largest payment processor​ WorldPay and the Head of Data Science at the mobile payment provider Ezetap.
Michael Young – co-founded and led 3 venture-backed companies to acquisitions, including one to a key supplier of Apple. Bringing expertise in computer vision, he has closed deals with Fortune 500 companies, the US Department of Defense, and strategic partners across China and Japan.
Kushagra Shrivastava – runs the Xoogler investment syndicate. He worked at Google from 2006-2014, leading marketing and strategy for Google Play and Android Apps. Graduated from the INSEAD Executive Program for marketing, Kushagra was the chief executive for products at an advertising startup acquired by Pinterest.
https://harmony.one/ #harmonyprotocol #deepsharding #blockchain #BUIDL #BTC #ETH
submitted by leorobcobo1972 to ICOAnalysis [link] [comments]

Blockchain Rising — Adoption, Legislation, and Regulation

Blockchain Rising — Adoption, Legislation, and Regulation

Blockchain Rising — Adoption, Legislation, and Regulation



Can you believe it? Last month, we celebrated the 10th anniversary of the Bitcoin whitepaper. Who could have imagined one decade ago that Satoshi Nakamoto’s peer-to-peer digital cash system would have such a tremendous impact? It took a true visionary to see the future potential of Bitcoin way back in 2008. Fed up with corrupt, centralized banks that caused the 2007 market crash, Satoshi created Bitcoin as an alternative economic system. Bitcoin’s road to mainstream adoption has been long albeit steady. Let’s take a look at the adoption and regulation of Bitcoin to get a better idea of where it will go in the future.
Technology Adoption Phases
Adoption of new innovative technology will go through different phases. According to Everett Rodgers, the author and inventor of the Diffusion of Innovation theory, there are five types of adopters — innovators, early adopters, early majority, late majority, and laggards.
Diffusion of Innovation model by Everett Rodgers
Theories regarding which stage of adoption blockchain technology has now reached vary, as industry professionals have different ideas on whether we are in the early adoption or early majority phase. The fact is that after its initiation in 2008, startups, established companies, and governmental entities have slowly begun researching and testing blockchain technology. According to an article in Forbes, over 50 big corporations are currently exploring the innovative technology as a solution for their business model. The blockchain market grew from having a total market capitalization of $16 billion US dollars at the end of 2016 to a total market capitalization of $212 billion US dollar at the time of writing.
So in essence, the industry’s value has increased exponentially while the global adoption has not yet hit the mainstream. However, it is growing at a slow but steady pace. This past year we keep hearing more and more stories about blockchain adoption by governments, startups and established corporations. The category suited for this phase fits the early adopter phase in my opinion.
https://preview.redd.it/m9w2e36bfq021.png?width=960&format=png&auto=webp&s=af15cfcfe021dd94919c2379906a7ca55992c35a
Blockchain Regulation
While worldwide blockchain regulations are becoming more and more common, there is no global standard for how blockchain is being regulated. While some governments are becoming more receptive to blockchain implementations, others are in favor of slowing down or bluntly restricting the implementation of blockchain technology.
One of the countries that is highly conscious of blockchain regulation is the United States. Operation crypto sweep was launched by the NASAA (North American Securities Administrators Association) to find and prosecute fraudulent ICO projects. The result was no less than 35 pending or completed enforcement action. In addition, the Securities and Exchange Commission (SEC) has filed various legal actions against companies that do not comply with their regulations. The SEC has even gone as far as to fabricate a scam ICO called Howey Coins full of red flags in order to warn people about malicious practices and businesses extorting money from individual investors. It was their way of showing people that if something seems too good to be true it usually is.
Cryptocurrency and blockchain projects doing business in the US need to be very careful about being classified as a security — even if their project claims to issue “utility” tokens. The distinction between a security token and a utility token is unclear leading some companies to operate as if they are issuing securities but then meeting all of the qualifications of an exemption such as Regulation S, a safe harbor from registration requirements. When it comes to the SEC, it is definitely better to be safe than sorry!
Moreover, various lawsuits have taken place already in which blockchain companies faced legal action for non-compliance with local regulations. The cryptocurrency Ripple has been in an ongoing securities lawsuit against the state of California. Tezos also followed a year-long legal battle with the state of California before they could officially launch their project after raising $230 million dollars in an ICO.
Just last year, China announced a total ban on cryptocurrency, resulting in Chinese-based blockchain companies needing to shift or shut down their operations and find other more blockchain friendly jurisdictions. After China, the Republic of Korea banned initial coin offerings (ICOs). As a frontrunner in adopting innovative technologies, Korea is focused on drafting official rulesand industry standards for professionals in the blockchain industry.
Singapore has always been supportive of blockchain technology and is open to companies adopting it. In November 2017, the Monetary Authority of Singapore (MAS) issued a Guide to Digital Token Offerings. The guide offers information for financial institutions on the obligation to obtain a license when offering digital assets to the public.
The European Union is also pretty blockchain-friendly. Switzerland has always been pro-blockchain and its city Zug has been deemed crypto-valley as many blockchain companies are based there (e.g. the Ethereum Foundation, Cardano).
Last month, Kambria COO, Tra Vu, joined Tom Trowbridge, President of Hedera Hashgraph, and Nick Chong, Head of North America at Quoine Exchange, at IF Conference in New York City to discuss blockchain regulation. Quoine is the first global exchange to be regulated by the Japanese government. After the Mt. Gox collapse, the Japanese government decided to regulate Bitcoin and to establish it as an official method of payment. Exchanges have to be regulated to operate in Japan similar to banks and are required to take certain measures to ensure security and storage of cryptocurrency. As a result of regulation, Japan is a leader with respect to crypto regulation and the awareness of Bitcoin in Japan is very high.
But the country that currently ranks number 1 as the most blockchain and cryptocurrency friendly jurisdiction is…Malta! Some refer to it as “the blockchain island.” On July 4, 2018, the Maltese government approved 3 different laws that act as a framework for blockchain, cryptocurrency and distributed ledger technology (DLT). Besides blockchain technology, Malta is also a fan of innovations in the robotics and AI industry. They recently initiated an AI task force that will build a roadmap that leads towards granting citizenships for AI. Last year, Saudi Arabia was the first country to officially recognize a robot as a legal citizen within their jurisdiction. The honor goes to Hanson Robotics Humanoid robot, Sophia!
Blockchain Roadblocks
In spite of global progress, blockchain has some roadblocks ahead in pursuing mainstream adoption. The primary issues that slowed adoption last year are referred to as the blockchain trilemma — scalability, security, and efficiency. This came to light last year when interest in cryptocurrency and Cryptokittes piqued. Fortunately, solutions that speed up the network, like Lighting Network for Bitcoin and Plasma and Sharding for Ethereum are now being developed.
Another issue is the fact that blockchain needs to have easy access for every member of our society. New users might get overwhelmed with the extent of cryptographic knowledge that is required to safely make a transaction on a blockchain network. Rookie mistakes include sending someone your private key instead of your public key, depositing a coin into a different coin’s account (BTC vs. BSH), and not doing your own research (DYOR).
There is also the threat of quantum computing. This threat will probably take a while before it will become serious, but it is something to consider in order to move forward with blockchain technology. Various developers are working on creating a quantum resistant ledger. When the time comes, and the quantum computing threat needs to be addressed, a hard fork can be initiated to change to a different quantum resistant ledger.
Blockchain regulation and laws that apply to startups in the blockchain industry and established companies utilizing the technology are essential to mature the market. Regulation will also discourage malicious entities from entering the market. A market with fully-compliant organizations is very healthy to keep the industry moving forward.
Future Blockchain Evolution
When it comes to achieving mainstream adoption, the biggest roadblocks the blockchain industry is facing are solving the scalability, security and efficiency issues and creating blockchain-based payment solutions that are easily accessible to all members of our society. Blockchain technology, with the addition of smart contracts, can have a revolutionary impact on industries like fintech, health, robotics, and AI. Financial products like mortgages and insurance policies are just two of the highly suitable products that can be initiated with blockchain and smart contracts.
Open innovation protocols, like Kambria Network, where community members come together, share resources and work on developing, manufacturing, selling and buying innovative tech products and services are the future and I don’t think anything can stop it. It is just a matter of time before the world practically runs itself through the implementation of blockchain technology.
The Kambria Team
Website: https://kambria.io/
Whitepaper: http://bit.ly/2JbuET7
Telegram (ENG): https://t.me/kambriaofficial
Telegram (KOR): https://t.me/KambriaKorea
Telegram (VIE): https://t.me/KambriaVietnam
Telegram (CHN): https://t.me/KambriaChina
Twitter: https://twitter.com/KambriaNetwork
Facebook Page: https://facebook.com/KambriaNetwork
Facebook Group: https://www.facebook.com/groups/kambria/
Reddit: https://www.reddit.com/KambriaOfficial/
Medium (ENG): https://medium.com/kambria-network
Medium (CHN): https://Medium.com/kambriachina
Steemit: https://steemit.com/@kambrianetwork
Weibo (CHN): https://www.weibo.com/kambriachina
Email: [email protected]
Kat is sold to be used on the Kambria platform.
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An in-depth look at actions to take with heavy losses on the cryptomarket

CryptoRobotics Chief Advisor Ivan Schcherbakov expert opinion

CryptoRobotics Chief Advisor and a member of the Eurasian SMB Assembly in Blockchain technologies has answered to five top issues cryptotraders face today.
Is it still worth it to invest in crypto?
There is no sense to get in crypto if trader wants to take profit within 2 or 3 months. In this case there is a big chance to lose a part of the deposit because such market fall trend is likely to persist.
If it is a long-term investment, go and get it. All prices under $10 000 are worth buying for BTC.
Anyway you should be aware of all the risks on the market. Do not invest with credit money. Cryptocurrency market is very risky. Nevertheless, the more risks the investor takes the more potential profits he makes.
What coins are worth investing?
Apart from bitcoin EOS and Ethereum are worth investing.Those two giants will rule the big smart-contracts market, all types of tokens and digital derivative creation.
Next year cryptoinvestors are more likely to kick themselves when looking at summer 2018 charts. Now EOS is for $5 and ETH price is under $320.
Looking at the whole crypto economy, EOS and Ethereum are less risky compared to other altcoins.That’s because there are big EOS and Ethereum ecosystems and active community with hundred thousands of users.
The altcoin price is pretty cheap. There are also slightly more than a dozen of different altcoins (NEO, Tezos и 0x, etc.) in my portfolio. Entering these assets is pretty reasonable.
**What is happening on cryptomarket now? **
A great majority of cryptocurrency markets have lost considerable value over the past few days. The overall cryptocurrency capitalization as a whole has dropped to $210B. US Securities and Exchange Commission (SEC) has postponed the official launch of the ETF-bitcoin. It has influenced the drop as well.
The market fall is more like a manipulation, because SEC has postponed the adoption for ETF several times for the last few years.
Forecasts from the experts
There are some experts who believe in the capitalization increase up to a trillion of dollars by the New Year. If it is true we will see new 10x and 100x gains.
At the same time the TA of many experienced specialists shows that bitcoin may drop down to $3 900. But in my opinion the probability of such a scenario is small.
What to do?
Many coins are at their 2018 minimums now. I would buy as much as possible and wouldn’t sell tokens of different projects got in ICO or on exchanges.
I recommend all cryptoinvestors to be persistent, control their fear at this stage and remember their initial goals they enter the market. No clear strategy — many losses.
https://preview.redd.it/ctadgtqzdng11.jpg?width=1280&format=pjpg&auto=webp&s=5c0ebb85ff0b0c8e838c2a9d23b0c0410b3438fc
submitted by Cryptorobotics to u/Cryptorobotics [link] [comments]

Log of AMA with particl

boldninja
Let's all give a warm welcome to Particl.io team members - @umbrah, @dasource, @litebit, @rynomster, @imyb, @ludx, @synergy - you can start asking them questions. You know the drill - wait till they respond (not more than 3 questions of backlog) so they can catch up. (edited)
umbrah Thanks @boldninja , we're ready to answer questions anytime :slightly_smiling_face:
rynomster thanks @boldninja, thanks Ark for having us
macdac Hey guys, so Ill be the first to ask, where are we as far as the mainnet release?
litebit macdac: we are waiting for Particl foundation to be approved. Paperwork is in Swiss regulator's hands and we're waiting for them to approve so they can oversee us create PART tokens and distribute PART tokens
jeffjam Since Micah seems not to be present, is he still part of the team?
litebit jeffjam: micah is still a member of the team as an advisor. he has and will continue to contribute to the Particl project. On top of that, his fiance just said yes, so he's pretty busy :slightly_smiling_face:
litebit is it ok to answer in threads @boldninja or do we usually just do a long string?
tranzer welcome Particl - just learning about you guys looks promising and interesting concept. Can I ask how much did you guys raise and currentl holdings you have (mainly asking if you have enough for years to come) ?
litebit @macdac we are waiting for Particl foundation to be approved. Paperwork is in Swiss regulator's hands and we're waiting for them to approve so they can oversee us create PART tokens and distribute PART tokens
umbrah @jeffjam micah is still a member of the team as an advisor. he has and will continue to contribute to the Particl project. On top of that, his fiance just said yes, so he's pretty busy :slightly_smiling_face:
macdac @litebit, did they say anything as far as when they will approve like an approximate date or just when they get to it?
litebit macdac: once foundation is formed we'll use a couple days to do final prep for mainnet setup and then release the clients, source and tokens
litebit @macdac once foundation is formed we'll use a couple days to do final prep for mainnet setup and then release the clients, source and tokens
ryano What is particl
litebit ryano: to put it simply, Particl will be an anonymous, crypto-agnostic marketplace. this will be a self-governed decentralized system
commodore64 Hey Particl team, can you comment on whether or not the fact that it's taking the Swiss Regulator so long to approve has anything to do with any problems that have surfaced, and if so, what those problems are, or is it typical for it to take this long?
litebit commodore64: I know Zug is getting bombarded with cryptocurrency startups.
zedsix Hi there team at Particl, will the GUI be released alongside mainnet?
litebit zedsix: we have started testing the GUI internally. There will be a testnet with the GUI prior to mainnet
macdac @litebit, and you guys are 100% sure they will approve and is just a matter or time??
umbrah @ryano to put it simply, Particl will be an anonymous, crypto-agnostic marketplace. this will be a self-governed decentralized system
tranzer Who do you see as your biggest competitior in blockchain and in traditional sense of the way atm?
mgaruccio So if it's crypto agnostic where does the value of PART come from?
litebit mgaruccio: what's good about particl is that buyers can pay in whatever coin they want, provided it's available in shapeshift. it will automatically be converted to particl. it will be the receiver's choice to sell, hold or stake particl
mr_robot @rynomster When can we expect a working beta of the marketplace? Is the team focused on developing a mobile app version that can do staking on a mobile platform as well?
rynomster @zedsix, we have started testing the GUI internally. There will be a testnet with the GUI prior to mainnet
jarunik Why should i use it and how will you ensure a vivid marketplace?
macdac Are you guys sure of the Swiss foundation approval, that they will approve?
umbrah @mgaruccio what's good about particl is that buyers can pay in whatever coin they want, provided it's available in shapeshift. it will automatically be converted to particl. it will be the receiver's choice to sell, hold or stake particl
litebit @commodore64 I know Zug is getting bombarded with cryptocurrency startups.
zedsix Long time supporter for Shadowcash/Particl since the early days. The biggest gripe I have with the transparency and delays between the team and the community/supporters/investors. This has stemmed from the Shadowcash days - do you have any plans to change the way you address any delays? NB. Nothing against your team, I love the work produced - as a long term supporter I would like to see a company take a more proactive approach to issues that have stemmed in the past and not release hype/release dates until 100% certain.
rynomster @mr_robot, In terms of our timeline, we anticpate the beta to be out mid October, that's without the reputation system.
michaelthecryptoguy Can you explain your exchange mechanism somewhat? What exactly takes place in the background? Explain the client server side of that token being exchanged to the customer receiving that different coin :coinspin:
sacode Any plans to integrate fiat gateway? I don´t see how particl can go mainstream without this feature!
b.b.2k17 will Particl team implant feature similiar to delegatation (dPoS) in order for small staker to vote on propsoal without setting a node?
umbrah @zedsix as you can probably see on twitter, blogs, 3rd party media etc, we are actively informing the community about the status of particl. good or bad. you can see this on particl.news
litebit @macdac our legal counsel is Swiss based and have been through this process before so we're trusting they have all the right docs to get the job done. We were only told it takes 2 weeks to receive the answer once they have paperwork
rynomster @mr_robot, we intend to have the reputation system in place towards the end of October, at the same time we will have the protocols and codebase audited
umbrah @sacode
commodore64 @rynomster Hi there, long-term supporter. I bought SDC back in February of 2015 and have been following the project closely the whole time. One thing I have a problem with is that you have announced the marketplace launch a number of times. For the first half of 2015 you continually said that it would be ready by the end of the year, then the same message was communicated in 2016. The constant missed deadlines have caused me concern, and now I'm still not sure what to believe about the market launch.
So why now should we believe in the October date?
umbrah @sacode yes there is a plan. there are ideas but not limited to coordinating with companies like changelly, so buyers can use credit cards. but priority is still the marketplace
zedsix ^ That's currently how I feel, everytime we receive a release date it never happens - it gets concerning when a company keeps doing this and doesn't learn from the previous time it occurs that you shouldn't release a release date if you're not 100% certain that you'll meet the timeline, @umbrah - the announcements posted on social media primarily are related to delays. I won't go into detail - we'll leave it there. (edited)
rynomster @commodore64, back then we barely had a functioning team. In 2015 the SDC team pretty much fell apart. Funding dried up and there was no real teamwork.. People work working on what they wanted to work on, and there were constantly issues arising that would take priority over the MP. Particl has a team now, as well as funding, a project manager, and we are busy growing. (edited)
sacode How will you approach sellers to use particl market?
tranzer Posting questions again : Can I ask how much did you guys raise and currentl holdings you have (mainly asking if you have enough for years to come) ? Who do you see as your biggest competitior in blockchain and in traditional sense of the way atm?
macdac Will you guys release with ringCT due October?
rynomster @macdac, ringCT is currently in testnet 3
b.b.2k17 I quite like the delegate feature in ARK. Will Particl team implant feature similiar to delegatation (dPoS) in order for small staker to vote for their delegate on propsoal without setting a node?
umbrah @sacode there are a lot of upsides for sellers to use particl market. less paper works, tax breaks (depending on location), more security for seller, not to mention cheaper. we will approach them on more than 1 way. 1 st priority however will be existing crypto sellers
commodore64 @rynomster thank you.
throwplastic @umbrah what do you mean with "existing crypto sellers" as your 1st priority?
umbrah @b.b.2k17 currently there is no plan on changing the PoS structure. I agree dPoS has their upsides, but for the product that particl is setting up, PoS is the perfect choice currenctly
synergy @commodore64 there have been governance issues that have arisen that have delayed the project but now there is a dedicated team of 15 people of which 10 are working full time
commodore64 Another question for the particl team: Will the marketplace allow the ability to create a private market that would require either registration or invitation?
mr_robot Was this answered? I'm also curious on the details of how this works michaelthecryptoguy Can you explain your exchange mechanism somewhat? What exactly takes place in the background? Explain the client server side of that token being exchanged to the customer receiving that different coin :coinspin: Posted in #trading_altcoinsToday at 6:09 PM
macdac What will be the main differences between the Part wallet and the old Umbra?
umbrah @throwplastic sorry, let me clarify. currently, there are a lot of existing sellers who are also sellers on amazon/ebay etc, also people capitalizing on selling crypto merchandize, these will be our initial users and we'll work on that growth
b.b.2k17 (dont forget slack has reply to thread feature, easier to follow the questions and answer)
rynomster @macdac, Particl is being built on the bitcoin core 0.14 codebase. We are building the GUI from the ground up, using Angular (2), and electron. Umbra used QtWebkit, and native html5 + jquery. The UI is new, as well as a way healthier backend inherited from bitcoin core
macdac Is Crz here with a different username? if not can you guys tell us how the GUI of Part is going? What is he working on now?
b.b.2k17 macdac: here is a link to their GitHub, you can see the progress: https://github.com/particl/partgui
sherp Also curious about this tranzer Posting questions again : Can I ask how much did you guys raise and currentl holdings you have (mainly asking if you have enough for years to come) ? Who do you see as your biggest competitior in blockchain and in traditional sense of the way atm? Posted in #trading_altcoinsToday at 6:15 PM
litebit Particl in it's current state is a privacy platform, so we would be in competition with privacy coins. We are testing Confidential Transactions and RingCT on our TESTNET3 atm. Monero is the only other currency using RingCT and only a view others are using CT. Particl is the first to use this tech on Bitcoin codebase. We also have a decentralized voting mechanism so projects like Decred who are excelling at governance are projects we would also be similar too.
Once our market is out we'd have competition from other decentralized marketplaces like bitbay, OpenBazaar, Syscoin's blockmarket and a couple ethereum projects in early phases of development. We'd also be competing against ecommerce sites on clearnet that are strictly centralized models.
The cool thing with the market is it'll be crypto-agnostic so no crypto would be competition. OB also will offer a crypto-agnostic market and I don't recall if Syscoin's does at this time. tranzer Who do you see as your biggest competitior in blockchain and in traditional sense of the way atm? Posted in #trading_altcoinsToday at 6:06 PM
umbrah @mr_robot what we want for particl marketplace to be is a seamless system where buyer doesn't even know he's buying particl to transact. this will be beneficial to normal users who are not familiar with crypto
b.b.2k17 macdac: here is a link to their GitHub, you can see the progress: https://github.com/particl/partgui GitHub particl/partgui partgui - Particl Angular GUI - The source for the Particl GUI.
rynomster @macdac, crz is working on the GUI wireframes still, as well as the new website design. He will be helping out with the GUI as soon as he is finished with his current tasks, to give it some polish (edited)
throwplastic @umbrah thanks for clarifying, that makes sense. Will there be any mechanisms in place to ensure that no illegal products are sold?
umbrah @tranzer currently there is openbazaar (OB), but we believe we will have more features like anonymity, staking and others.
trixter- Particl team: Will their be a 3rd party Audit for RingCT feature before forking it, and do you have an idea how much time this audit could take?
zedsix When's Particl expected to reach exchanges?
michaelthecryptoguy Can you explain your exchange mechanism somewhat? What exactly takes place in the background? Explain the client server side of that token being exchanged to the customer receiving that different coin :coinspin: Does this take place with shapeshift?
macdac Cool, thanks for all the answers guys, Do you guys have an idea of when the new website will be released? which Domain will it be Particle.io still or what?
sacode In June 1st - blog update - you told us there was 3 new faces who joined to the team. Can you reveal who they are? What's their background?
umbrah @throwplastic yes, we will put in a governance model where stakers can vote whether they are ok with putting a product in. as there are grey areas for products, this will be based on votes
litebit The main difference is codebase. Umbra was built on bitcoin .08. Particl is built on bitcoin .14. So we'll have native segwit, malleability fixes, increased security, bip65, lightning network readiness.
The privacy is increased as well. Umbra used ring-sigs and Particl is using Confidential Transactions and is testing RingCT. macdac What will be the main differences between the Part wallet and the old Umbra? Posted in #trading_altcoinsToday at 6:18 PM
@umbrah can speak to this, we're catching up sorry :slightly_smiling_face: sherp Also curious about this Posted in #trading_altcoinsToday at 6:21 PM
mr_robot How does the governance feature work and what's stopping people from making multiple accounts to collude on voting? Is it based on the reputation or staking? (edited)
umbrah @tranzer the team has raised 591 btc and roughly 250k particl. this will last the team for an expected 9 months, which is more than what we need to come up with a working marketplace. there will be a 2nd crowdfunding early next year and we will be expecting particl to be self funding after that.
jeffjam Will mainet be released with implemented ringct?
litebit Yes, definitely. It was one of our funding milestones and it'll be around 3 months to audit and correct major bugs. TESTNET3 currently has RingCT on it but we'll probably remove it for TESTNET4 because it's so raw and we're focusing on mainnet. trixter- Particl team: Will their be a 3rd party Audit for RingCT feature before forking it, and do you have an idea how much time this audit could take? Posted in #trading_altcoinsToday at 6:22 PM
trixter- @litebit thanks
michaelthecryptoguy It seems the business side of particl (picking up more clients, instead of customers to use the service) is moving faster then the developers. Any explanation on this?
litebit michaelthecryptoguy: our dev team is working full steam ahead and making sure we are testing properly. We are in the final stages of the GUI development. The Blockchain and daemon are working and in public testing.
litebit by saying clients, do you mean contributors? if so, this is exactly what we expect, as this indicates speculations. same with other successful projects
umbrah @michaelthecryptoguy by saying clients, do you mean contributors? if so, this is exactly what we expect, as this indicates speculations. same with other successful projects
zedsix When's Particl expected to reach exchanges?
litebit zedsix: we are in ongoing conversations with majority of the exchanges, in an ideal scenario we would be listed on launch date, this is a work in progress and has been given priority by team
rynomster @michaelthecryptoguy, our dev team is working full steam ahead and making sure we are testing properly. We are in the final stages of the GUI development. The Blockchain and daemon are working and in public testing.
macdac Are you guys concerned of the competition? like Bitbay and others that have or plan to release a market
litebit macdac: there have been markets around for a while. We are focusing on anonymity and decentralised governance.
imyb @zedsix we are in ongoing conversations with majority of the exchanges, in an ideal scenario we would be listed on launch date, this is a work in progress and has been given priority by team
umbrah @zedsix we are waiting for foundation to be finalized first before we can release the mainnet, then exchange. same as other coins, it has to be the exchange's discretion when to add a coin, but we have already communicated with numerous exchanges to list this, and we are seeing positive replies
sdcpod How far are you with the Gui ? Will it be in Testnet 4 and if yes when is testnet 4 ?
zedsix Thanks @umbrah / @imyb
umbrah :slightly_smiling_face:
sacode There will be a marketplace app on app store or google play? If so, when?
rynomster @macdac, there have been markets around for a while. We are focusing on anonymity and decentralised governance.
molefish Will there be a way to run the wallet at launch on Mac OS X?
litebit Original mainnet (this first one) won't have ringct. We'll need to audit the code first jeffjam so it'll be on testnet for a while before going live. we haven't contracted any party yet to do this. I'd imagine a 3 month window to audit is to be expected jeffjam Will mainet be released with implemented ringct? Posted in #trading_altcoinsToday at 6:25 PM
michaelthecryptoguy So do you blame the advertising side of particl, for these announcements, or does the finger point mostly toward the developers for not meeting there timeline?
litebit Any mobile version of the marketplace will come after the second funding round. This first seed round is to get the MVP to market. Greater enhancements will come with additional funding and larger focused teams. sacode There will be a marketplace app on app store or google play? If so, when? Posted in #trading_altcoinsToday at 6:32 PM
Yes. molefish Will there be a way to run the wallet at launch on Mac OS X? Posted in #trading_altcoinsToday at 6:32 PM
rynomster @sdcpod, right now we are working towards getting the GUI ready for public testing. Based on our estimates we will have some GUI elements ready for testing next week.
michaelthecryptoguy What is causing the team to not work insync (as one) What improvements or changes have been made in this area?
throwplastic Will there be a browser-based market or do users always have to use a dedicated particl software to make purchases?
dasource throwplastic: Particl wallet will work both in browser and as an application .. to ensure privacy you require your own particld daemon running within the same network. Whilst it is possible for it to work with external/shared daemons that is not part of the current scope to effects it has on ones privacy
sdcpod What you mean with "some elements" you mean the gui like back in sdc but like say without widgets ?
rynomster @sdcpod, there will be basic functionality, but it won't be complete as its still in development.
michaelthecryptoguy Who do you see as your main customer base? Average people that use or work with Crypto Currencies?
litebit @michaelthecryptoguy i think it's a product of the fast paced crypto ecosystem. when people's money is on the line, deadlines and firm dates are expected and we want to be as transparent as possible so we try to accomadate, but roadbumps happen and deadlines sometimes get pushed
trixter- Particl Team: Will TOR, I2P be integrated in the wallet on release?
dasource trixter-: TOR - yes I2P - no
mike where can we buy Particl now?
umbrah @michaelthecryptoguy there certainly are challenges we are expecting like any other team/company, but we believe we are working better than an average team. now that the team is well funded, we can expect fster project and more deadlines to be met. as a matter of fact, the team has already contributed more thatn 100k lines on github
commodore64 I'll ask this question again: will users be able to create a 'private market' or is everything 100% public?
dasource commodore64: Yes there will be support for Private Markets
commodore64 @dasource thanks! Has this feature been fully fleshed-out in terms of development? Like will there be an integrated invitation system or ability to create user credential authentication information? And also, will the private market be subject to its own separate governance?
dasource conceptually it is not much different to the public market other than the key to access the private channel is a secret and shared by the creator with those he wishes to invite .. there will be no governance on the private market as its impossible to govern something you cannot access
imyb @mike you will need to wait until PART hits the exchanges
litebit To start it'll be trend setters so crypto users. Big picture we'll be reaching out to vendors, sellers and buyers in countries that don't have access to the ease of amazon or ebay due to political positioning and restrictions on where they live. That's the big goal of the market michaelthecryptoguy Who do you see as your main customer base? Average people that use or work with Crypto Currencies? Posted in #trading_altcoinsToday at 6:36 PM
umbrah @commodore64 particl platform itself is a private marketplace. no one will be able to know what anyone buys/sells, thanks to the CT, RingCT features and encrypted msgs
mike does Particl have a wallet available for OTC exchanges?
macdac Will you guys make a video showcasing the wallet GUI soon?
litebit The wallet will be on testnet soon so people can be hands on with it :slightly_smiling_face: much better than video macdac Will you guys make a video showcasing the wallet GUI soon? Posted in #trading_altcoinsToday at 6:40 PM
commodore64 @umbrah so the answer is no? People won't be able to create sub-markets within the main marketplace?
sacode May i set my favorite currency and language to navigate on marketplace?
umbrah @mike particl will have a very user-friendly wallet :slightly_smiling_face:
commodore64 like with authentication restriction
litebit CHANNEL: is this method of question answering helping or hurting? it seems a mess and hard to keep up. we want to make sure everyone is being heard. Could we answer using threads instead?
umbrah @commodore64 that is a feature-based question. i'll ask one of my colleagues to answer that
mr_robot Threads would make more sense it seems
umbrah @commodore64 dasourced has answered your question in threads. and the answer is yes :slightly_smiling_face:
rynomster Our new members are: Imran, our Commercial and Partner Strategy Pierre-Alexis Ciavaldini, Talented developer * experienced in C, AngularJS, Web development Jason Eybers, Junior developer * he is still studying, but he is adding valuable things like unit tests, linting, and little things that the seniors aren't currently focused on. sacode In June 1st - blog update - you told us there was 3 new faces who joined to the team. Can you reveal who they are? What's their background? Posted in #trading_altcoinsToday at 6:23 PM
michaelthecryptoguy How do you overcome a vendor that is brand new to Crypto Currencies, that can't pay for his supplies or merchandise in crypto? Will you be working directly with any banks? (edited)
umbrah michaelthecryptoguy: working with banks would not be a good strategy. as of the moment, we will make particl marketplace to be a decentralized marketplace free from paperwork etc.
imyb michaelthecryptoguy: we are in discussions with partners who should be able to provide us with the facility to entertain these types of transactions
sacode The fact that you guys met in Hong Kong in the past, has something to do with the possibility of establishing contacts in the Chinese market? (edited)
umbrah sacode: yes :slightly_smiling_face:
litebit sacode: Establishing a prescence in China is a major reason for this Particl pivot
mr_robot Private sub markets... What would prevent that developing into unfavorable things that would bypass the community governance voting?
dasource mr_robot: Private markets are precisely that, no governance.
throwplastic But there is a way of voting certain products out by stakers from what I've gathered?
litebit Private markets are just that private, who is in there, what is happening, what is selling is all private. the network is unable to tell what is going on. similar to how signal or whatsapp encrypts on client side
commodore64 @litebit @dasource what if someone gains access to a private market and it's determined that there are undesirable products being sold in there and they take some screenshots and post it up online like in reddit or bitcoin talk or something? Is there a governance model overseeing the private markets at all?
dasource There will be no governance on private markets .. it is impossible todo.
commodore64 @dasource @rynmos
commodore64 @dasource @rynomster rynomster indicated in the main thread here that 'the network will only be supported while it is being run cleanly'. is this concern not relevant within private markets?
litebit the only way to "gain access" is for 1 or both parties to "give access" by posting these images themselves. otherwise everything is encrypted with industry standard cryptography
commodore64 like why is it relevant within the main marketplace but not within private markets? particularly if it becomes publicly known through screenshots on public channels? Like I get into a private market and take some screenshots and put them on reddit, is that not concern about the market being run cleanly?
dasource this has already been answered in another question ... you cannot govern something you cannot access .. the whole point of a private market place is that it is private by the creator and shared with those he wishes to only.. I am not sure what is the misunderstanding here? (edited)
mr_robot I think the concern is that any private market would bypass the community governance and therefor allow any kinds of black market items that could be used to hurt particl's reputation for larger more legitimate things. Ie larger sellers on Amazon wouldn't want to have anything to do with a marketplace that had screenshots of nefarious things being sold... (edited)
dasource I see your point and understand it however let me give you another example ... If you and I use Signal and we decide to trade Cuban Cigars ... you post that on the internet. Should Signal be held liable because they provided a secure means for you to communicate and trade? Particls Private Markets are no different, we are providing a means for people to trade in 100% privacy (anything from cigars to private paintings etc) .. in that environment you cannot govern because it is encrypted for everyone else. Is it possible people may use this for nefarious items? Yes... but it is also possible for that to happen on Signal or any other good encrypted chat platform. Should we stop developing for the good because a few bad actors might use it?
2cuse What about the case where people just don't vote?
umbrah 2cuse: if people do not want to vote, we cannot force them to. this however, remains a feature in the particl
b.b.2k17 this is why i would love to see dPoS
2cuse Seems like you'd have to spend allot of time voting to stop bad stuff that may pop up
throwplastic Is there a legal risk of staking if illegal products are traded on the platform?
umbrah throwplastic: the reason why we are taking a lot of time with foundation is because we want to make sure there are no loopholes in terms of legality. i'm confident that we have this covered
throwplastic Good to know, thanks!
rynomster @2cuse, the required threshold will be set quite low at first, as failed governance will be very fatal for Particl. The network will only be supported while it is being run cleanly
2cuse Hmmm ok that sounds ominous
michaelthecryptoguy Is their a current partner that can re-distribute particl or another coin, back into my choice of monetary unit? (usd, eur, rupee, peso, etc) (edited)
imyb michaelthecryptoguy: yes
mr_robot Can you explain how the governance will work and what will prevent people from gaming the system with multiple accounts?
umbrah mr_robot: the governance will be based on a staking vote (not yet final) we will ensure that there are no duplications
litebit mr_robot: for the market we're still researching and developing models of governance. a seller will need to pay a fee to list which can become expensive if gaming a system. voting will be an incentive for the network so it would become expensive to gain a majority % to manipulate voting
2cuse I could see spammers testing the governance then worth illicit goods
litebit 2cuse: of course. there is no centralized control so the network affect will be in effect :slightly_smiling_face:
macdac Will the people who were gracious enough to donate 25% or more from their bonus receive any incentive outside of just having username be mentioned?
dasource macdac: How does early access to Market sound? Open to ideas
macdac That sounds good
macdac I donated a good amount of coins
umbrah we are actively thinking of ways to reward donators. if you can think of a reasonable reward let us know :slightly_smiling_face:
dasource Thank you .. I am sure the 100s of people who genuinely missed out on the conversion will be grateful
macdac Youre welcome, ive been supporting this project since day one
macdac Early access would be nice ill think of something else and let you know
macdac Hope you guys look at the number of coins donated too when considering because I know that many people had multiple accounts and could have chosen to donate from only 1 but not the rest, I only have one Particl.io accoutn
michaelthecryptoguy Would you be willing to introduce that partner to the :ark: team? (edited)
umbrah michaelthecryptoguy: i don't see any reason not to :slightly_smiling_face:
michaelthecryptoguy :partywizard::slightly_smiling_face::sun: (edited)
michaelthecryptoguy @mike This might be something you would be interested in pursuing.
mike thanks for bringing up.
mr_robot I understand that details of particl being on what exchanges at what time is not currently possible due to the unforseen events of the delays of the terms of service. But is there still open communication with the exchanges and are they responding positively to the idea of listing particl when it's released?
umbrah mr_robot: a lot of exchanges are responding positively. we are actually expecting to be listed a few days after mainnet release, but could not confirm any of exchanges of course
commodore64 litebit, commodore64, and mr_robot @litebit @dasource what if someone gains access to a private market and it's determined that there are undesirable products being sold in there and they take some screenshots and post it up online like in reddit or bitcoin talk or something? Is there a governance model overseeing the private markets at all?
trixter- Particl Team: How much % of wallets are created and how much has been donated to this day?
dasource trixter-: 83% are ready for genesis with 125k Donated
trixter- 125k does that include the teams donation of 40k or without?
dasource that is without .. and the team will match upto 40k based on 5:1 formula ... so 125+25k=150k ... well short of the 250k we are aiming for
trixter- nice Im rooting for the project to achieve this goal. This is a uniqum in crypto that people give away money to help out other people. I hope you guys will provide an address for people to donate their staking rewards to so we can achieve this goal
sdcpod Yea staking to address function would be nice but @dasource said wont be possible im near future due another feature in the pipeline ?
umbrah we will do what we can to stake, but the priority will stil be focused on producing a marketplace
dasource I said "it was unlikely" ... however we wont know until we get down to the nitty gritty on it ... best way to donate to the cause is the increase your donation % before the genesis block
trixter- im alreaddy on 100%
sacode About marketing? Are you doing it all by yourselves or are you going to work with a specialized company?
umbrah sacode: we have a few partners in terms of Pmarketing
umbrah you might have seen taizen and leon fu videos, we have hired PR firms as well
sacode Yep i saw leon fu videos
umbrah :+1::slightly_smiling_face:
litebit we have been ramping up and beginning contracts with professionals beginning in June. in prep for mainnet and PART tokens being live in the wild
sacode So I presume we will start seeing some marketing very soon
sacode :slightly_smiling_face:
sacode This PR firms have any kind experience in crypto world?
submitted by Jarunik to ArkEcosystem [link] [comments]

I'm the worlds first "decentralized economist" I've never had a losing Crypto trade - details inside AMA

Here is a Chart on that : http://www.silverdoctors.com/wp-content/uploads/2013/11/Bitcoin-gold.png
For people Questioning the "never had a losing trade":
I'm buying Quark - some Myriad, some Caps and a few others right now. feel free to judge me on that in the future.
When people announce that this or that "crypto is going to explode" don't you stop to think (wait that guy just brought a whole bunch of that) ; Then look at its fundamentals, things like; "is it essentially a ponzi scheme?"
Why i think Bitcoin will move into a Terminal collapse:
http://kolinevans.wordpress.com/2014/07/25/why-the-bitcoin-price-really-needs-bad-news/
^ Talks about how difficulty (and thus issuance & price) can be monopolized.
http://kolinevans.wordpress.com/2014/08/22/what-would-a-crypto-currency-collapse-look-like/
^ explained the collapse here.
I'm invested in a basket of Crypto not just Quark, I have no bias toward Quark I'm actually agnostic if it wasn't as good as i believe fundamentally i would sell more at a profit.
i also have a wager V Bitcoin that no one has taken me up on:
http://www.reddit.com/QuarkCoin/comments/2dztfv/crypto_currency_wager_cny_6_months_bitcoin_v/
also i will add - Quark is one of the "Most Trolled" crypto that ever existed, this is because banking institutions:
  • Fear real alternatives and
  • Support broken ones.
That's the main reason you will see Bitcoin on "TV"
And why this will be extensively Robot Down voted. ( a key flaw in Reddit by the way.) (not that i care)
AMA !
: D
Update - Thanks for the huge response guys - this one single Reddit post seems to have wrecked all the work that our beloved useless and obviously retarded "Trolls" put into making forums and building Reddit's etc, thinking they can control the flow of information of a decentralized autonomous organization. (DAC)
a big fuck you has to go out to all your efforts, enjoy your life as a useless vacuous piece of shit, with no moral compass but also too cowardly or weak to actually man up and do something for anyone in humanity.
: D
submitted by _k_digi to Buttcoin [link] [comments]

Devil's Advocate: How Does Bitcoin Become The 'Worst' Invention Ever

This is not a troll post. Please put on your devil's advocate and futurology caps on. Are they snug? There that's better...
All we mostly hear anywhere from anyone who knows anything about Bitcoin is the how life-changing for the better things will become. Let's brainstorm some ways Bitcoin the protocol and/or currency will expectedly or unexpectedly change things for the 'worse'. Obviously this is subjective based on the viewpoint i.e. individual vs. corporation. How does the Bitcoin utopia become the Bitcoin dystopia?
Basically my thesis is:
Will the ability to monetize anything, monetize everything?
One immediate parallel comes to mind. The recent FCC debate that would allow ISP's to create fast or slow lanes for internet traffic. Let's consider the idea of traffic, or perhaps a queue (for the british audience especially) on a broader scale.
For these examples let's assume the following:
  1. Employers pay everyone in bitcoin or fiat but you opt for bitcoin because your paycheck is actually bigger due to reduced costs. You'll also need the btc to help pay for all the new costs of things.
  2. Everyone owns a mobile internet device of some sort.
  3. Banks and credit cards no longer exist in a traditional sense because they are outcompeted by Bitcoin and are no longer practical.
  4. Wireless internet is available to everyone, anywhere, for free (at least speeds necessary to communicate with the Bitcoin network).
  5. Everyone has a license with a QR code/generator which you use to pay for everything anywhere.
  6. There are high speed cameras or NFC devices that are able to read QR codes and 'charge' you for things on-the-go style.
The year is 2100. You're about to leave your apartment for some groceries in your electric Google automated car or EGAC. Gasoline-powered autos no longer exist. Roads are 99% accident free. Toll attendants and toll roads no longer exist. Instead you are charged per kilometer (everyone has switched to metric now, finally), by weight, for each car. On every road you drive. Everywhere. Highways become 'expensive'. Carpool lanes are abolished. There is now an extra lane on each highway that charges a fluctuating premium based on capacity of traffic at any given time.
Your trip to the grocery store, BitGroc, 5 kilometers away from your house costs you about X because you paid for the electricity of your EGAC and road upkeep for the road you drove on while traveling to the store. The parking lot is packed but luckily you're a member of the rewards program at BitGroc so you have the opportunity of paying to park on the 2nd basement floor, otherwise you would have to walk from the parking lot. 'Valet' parking at BitGroc is astronomically expensive because of EGAC and if it was cheap then everyone would be doing it which would take entirely too long.
You get your list out and walk threw the automated doors, paying only X instead of Y, again because you have a membership to BitGroc. Prices at BitGroc are 'great' though, especially if you want to purchase the near expiration date perishables like milk or eggs. Prices of everything in the store are completely variable based on their expiration and supply which continually updates based on checkout information and availability on the shelf. Remember Black Friday?? Man that was nothing compared to BitGroc sometimes. You notice something frantic happening near the egg fridge as people try to grab some 'cheap' eggs. You wanted eggs on this trip too but some kid on the first day of his job dropped a whole batch on the ground, so eggs become Z btc, totally not worth it this trip!
You get the ten items on your list because spending anymore time in the store would cost 'store time' which is added on to the end of each bill, per person. This helps pay for the lights, janitors, and all those eggs that knucklehead kid dropped on the ground. You opt for robot/self-checkout because of the few cashiers who still exist, you are charged much more to help pay their salary. Unfortunately, you forget your disposable bags this time so you have to pay for each bag.
You end up leaving with a few generic brand items that expire in less than a week. You've paid for travel, to and from the store, parking, time in the store, grocery bags, and a membership renewal.
Obviously there are some flaws in this scenarios, just trying to think big. Admittedly, these examples aren't even 'that bad'. I'd like to hear some examples using the public ledger i.e. mortgages , trusts, or wills. I will be editing the posts as more ideas or concepts are suggested.
submitted by DrWD to BitcoinThoughts [link] [comments]

Enter the 'petro': Venezuela to launch oil-backed cryptocurrency

This is the best tl;dr I could make, original reduced by 64%. (I'm a bot)
CARACAS - Venezuelan President Nicolas Maduro looked to the world of digital currency to circumvent U.S.-led financial sanctions, announcing on Sunday the launch of the "Petro" backed by oil reserves to shore up a collapsed economy.
The leftist leader offered few specifics about the currency launch or how the struggling OPEC member would pull off such a feat, but he declared to cheers that "The 21st century has arrived!".
"Venezuela will create a cryptocurrency," backed by oil, gas, gold and diamond reserves, Maduro said in his regular Sunday televised broadcast, a five-hour showcase of Christmas songs and dancing.
Maduro's pivot away from the U.S. dollar comes after the recent spectacular rise of bitcoin BTC=BTSP, which has been fueled by signs that the digital currency is slowly gaining traction in the mainstream investment world.
Ironically, Venezuela's currency controls in recent years have spurred a bitcoin fad among tech-savvy Venezuelans looking to bypass controls to obtain dollars or make internet purchases.
Economists and opposition leaders say Maduro, a former bus driver and union leader, has recklessly refused to overhaul Venezuela's controls and stem the economic meltdown.
Summary Source | FAQ | Feedback | Top keywords: Maduro#1 currency#2 Venezuela#3 Opposition#4 leader#5
Post found in /geopolitics, /worldnews, /Bitcoin, /btc, /TheCryptoBubble, /MrRobot, /wallstreetbets, /BitcoinAll and /CryptoCurrency.
NOTICE: This thread is for discussing the submission topic. Please do not discuss the concept of the autotldr bot here.
submitted by autotldr to autotldr [link] [comments]

We would like to use the /r/Bitcoin ad fund to sponsor our robotics team for a competition in Japan

Hi! So in our search looking for a sponsor and spamming every possible corner of the internet with our cause we stumbled upon this.
How can we use that? Well, We are a team of young robotics engineers from The Netherlands who have a competition coming up in Nagoya, Japan this summer (July 27th). It's called the RoboCup 2017. Here is a fun little promo they made for it. However we can neither afford to travel nor any kind of accommodation. That's why we need a sponsor. We tried making a gofundme page, but we severly lack skills regarding social media to get any sort of attention to that. However since we put so much effort into filling it with every single detail about us, the page serves as an excellent source of information if you happen to be curious.
About the sponsorship, in short, we're looking for up to 15 BTC. We know this is probably an unreachable goal, but we could honestly work with way less considering that number covers all the needs of our entire team. Minimally we'd need to cover the transportation and accomodation of our core members. Probably starting around 3 or 4 BTC. Probably even less depending on what we get offered, because let's face it, we're getting desperate. In return we're thinking about some logo on our t-shirts and robots, but we're open to ideas.
So what do you guys think? Is this worth a mail to the mod team? Thanks!
submitted by teamroboticus to Bitcoin [link] [comments]

[Table] IAmA: I'm the CEO of an online underground black market, AMA

Verified? (This bot cannot verify AMAs just yet)
Date: 2013-06-08
Link to submission (Has self-text)
Questions Answers
Aren't you worried about bringing more attention to your site by doing something like an AMA rather then just relying on word of mouth? By doing something like this don't you run the risk of law enforcement agencies paying more attention to the fact that you exist? We want to bring attention to the site and bring our vendors more buyers. Law enforcement is going to be aware of us (and probably already is) regardless of the way we choose to put our product out there.
What made you decide to go into the business of running such a site? Just the money? Or other reasons? It was the appeal of providing a service that we believe in and a business decision. Prohibition is a backwards process.
We have taken technical measures to prevent and offset these risks if they arise. As for our identities being revealed, if a competitor is able to do it then law enforcement would be able to do it. That would be of a larger concern to us. We take many measures to protect our identity.
There are many legal items for sale as well, but the bulk of our items are drug related. We have no preference over what gets sold (assuming it does not break our restricted items rules).
We are indeed. We're looking for a web marketeSEO willing to be paid in Bitcoin.
Im curious as somewhat of amateur SEO marketer, how does one market a Tor Site? Surely it can't be done in regular ways such as adwords, keyword optimization, etc, etc. It is true that we can't use regular methods however we are after a person who can make YouTube how-to videos, create forum posts in various communities to increase the exposure to our site.
I've done some marketing and SEO, so just drop me a PM if you still need somebody. Thanks for your interest plerer, please PM us with your experience.
So how many inboxes have you gotten from people asking for jobs? If you aren't sick of them already, I'm interested in at least more information. I'll send a message should you reply to this. We've received about 20, but we're still looking.
Are you looking for resumes, cv's? how are you choosing a candidate? Based off previous work, and whatever data the applicant is comfortable providing.
What are your restricted items? And why don't you allow people to sell them? Restricted items include anything related to paedophilia, poisons, loans, investment opportunities, assassination services or anything which can inflict harm on another person. If you infringe on these rules we will terminate your account instantly.
Trading any digital currencies (for example Bitcoins, Litecoins, Ukash, Moneypak, Western Union, Moneygram, etc) is forbidden and will result in the items being removed and a warning or ban being issued to the vendor. This is to prevent scams.
The trading of counterfeit money is forbidden, and will result in a warning or ban being issued.
We also do not allow listings for 0.01 in the money section. Your items must have a full cost associated to them to prevent people processing transactions outside of the escrow system.
We allow the purchase of physical fiat for Bitcoins and/or Litecoins (has to be legitimate currency; not counterfeit). This is the only exception to the currency rule. We do not, however, allow the reverse of these transactions i.e. customers mailing vendors real currency as this is outside the escrow system.
As an example, if you were a vendor and you wanted to buy $1000 worth of Bitcoins/Litecoins you could do so by making a listing for $1000 labelled "Buying $1000 worth of Bitcoins/Litecoins", and then mail the real currency to the purchaser of your listing in exchange for their Bitcoins/Litecoins that are currently travelling through the escrow system.
Why are investment opportunities banned? Because they're commonly used as scam tactics.
What about fake Ids? Can you guys make/sell those? Our vendors sell a lot of those.
Why is counterfeit money banned? Part of the "harm to others" rule? It's frequently used in scams. When we allowed it, 100% of the counterfeit money sales were scams. It's also hurting local businesses etc.
Would you mind posting a link to the be-all, end-all, one stop tutorial installation page to safely and securely start using TOR, Bitcoin and Atlantis? 1) Download and install the Tor browser bundle - Link to www.torproject.org 2) Download and install the Bitcoin client - Link to bitcoin.org 3) You'll need to obtain some Bitcoins. The most popular exchange is MtGox (www.mtgox.com). They offer a few ways in which you can convert your local currency to Bitcoins. 4) Using the Tor browser, visit Atlantis (URL can be found at /Atlantis) 6) Click on the deposit BTC link under account settings and transfer your Bitcoins to that address. You'll need to wait for 1-2 hours before the transfer propagates across the network. 7) You can then shop for any items you would like whilst being confident on security and privacy.
Someone help me with step 3? Its just telling me I cant open the program. That step is optional, you don't HAVE to use PGP. Especially if you just plan on having a browse.
Just commenting to find this later. )
Can you send me some drugs? Edit: Not a cop. Our vendors can.
How do you rate yourself compared to the road? We've had no downtime.
Our site is much more responsive.
We have cheaper commission rates allowing sellers to make more profit on their sales and buyers to buy them for cheaper.
We have automated PGP encryption of messages for the members who refuse to send their messages using PGP. We have an advancement fan management system, allowing sellers to reach out to all of their customers.
We have a more 'modern' user interface.
We have buyer feedback (none of the other marketplaces have this functionality).
We have an anonymous feedback system that allows you to determine is feedback is fake, but at the same time does not reveal anything about your buying patterns.
We support Litecoin as well as Bitcoin (the first market to support multiple currencies).
We listen to our user feedback, we have a rapid development cycle and new features are constantly being improved upon and added.
I'd like to personally thank you guys for everything you do to make online drug purchasing a safer and better experience. +altcointip 1 ltc. That's very kind of you, thank you! :-)
We've had no downtime. What do you say to all of the rumors that you were funding the DDoS aimed at the Road when your site first came online to pull traffic? We released an official statement regarding those accusations, it can be found on our forum. In short: We had nothing to do with it. It was speculative rumor.
What are you doing to cut down on scams and discrimination against new buyers? If your rules are that vendors are not supposed to deal outside of escrow, what are you doing about those vendors who require it in their policies? > "Yes we have caught scammers, but we've banned them swiftly. We pushed out new changes earlier that helps reduce the number of scams, all feedback contains the amount of the purchase, preventing users from leaving fake feedback on $0.01 listings. It also contains an 'anonymous' user ID so sellers/buyers can confirm whether the user leaving feedback has left feedback before. This helps catch scammers leaving fake feedback. The ID is unique to the sellebuyer combination, so it cannot be traced across transactions to determine a buyers buying patterns."
Further to the above we've made it easy to report suspicious vendors, there's a button directly on their profile that will notify support.
In regard to the vendors that require it in their policies, they will be warned or banned if they request FE without meeting our FE requirements (a minimum of 30 5/5 transactions). This system has already saved countless people from scammers.
New buyers are encouraged to purchase small orders first to build their reputation and feedback and find vendors who are pleasant to deal with. I haven't seen a problem of buyer discrimination yet (apart from on scammer profiles saying 'you must FE because you have no feedback').
If I am not mistaken, the Black Market Reloaded also has buyer feedback. Not that I would know, as I never go to such sites... I'm not sure, but I've heard its a haven for scammers, and they have no escrow process.
How about weighting reviews based on the amount of funds transferred? E.g., a $10 transaction review is worth 10x the review of a $1 transaction. This is a good idea, however this would impact the freshness of the feedback if we sort it by the value.
Aren't you worried the authorities are tracking this ama? They probably are. We aren't worried.
Why did you decided to accept Litecoin first? Also do you think Litecoin price will go up because of your site? Also how long did it take to prepare and set everything up? We wanted to promote Litecoin because it has a few awesome improvements over Bitcoin, so we started with Litecoin. I think a lot of the value has come from Atlantis already, and more will come from Atlantis with our growth. It's taken a year to get the site where it is at the moment with a few developers working on it mostly full time.
I've checked out atlantis, purely out of curiosity. I don't do drugs at all, but it seems that the prices are higher than street prices. Why do people prefer to buy on Atlantis? Is it due to knowing they're getting good quality? It seems riskier than buying drugs on the street. Greater quality, ease of access, safer than dealing with unknowns on the streets. A lot of people don't have access to a friendly in-person dealer.
The prices vary, some are actually cheaper then what you can find on the street.
Some of the main reasons why people choose to purchase off Atlantis include;
1) Quality of the merchandise. Because of the sites feedback and reputation system, you can be certain that you will be receiving an unadulterated item.
2) Order in the comfort of your own home and have the parcel delivered to you (with tracking).
3) Thousands of items to choose from. Sometimes a local dealer will not have a product you are after.
4) Deal with currencies which can be used to purchase items without the reliance of fiat.
5) Encrypted correspondence, more secure then messaging/calling your local dealer.
So how is it possible to get delivery anonymously? i mean, at some point don't you have to give your name and address to the seller? And if they are ever busted and you are in their database as a customer; aren't you kinda...you know...fucked? Thanks for the AMA by the way. Some purchasers use fake names to hide their identity, others don't. We have a strict rule where vendors must remove all information about their clients once the parcel has been shipped (e.g from their computer). Also, once the order has been shipped, the address is automatically purged from our database.
How do you enforce a rule like that? what's to stop a vendor from simply writing an address down on a sticky note? Unfortunately we can't enforce it, we can only advise them to do it. Our system also permanently deletes this information after first viewing.
So...you're an online drug dealer? How is this legal or how are you skirting laws to keep yourself from prosecution? I don't know of any countries/territories where selling Heroin would be legal. We're not a dealer, we provide the platform for dealers to sell their products in a secure environment. The Tor network hides our service from government officials. You can have a look into "Tor hidden services" if you're interested.
How do you usually guarantee the safety of your "company' and the buyer? We use a Tor hidden service to hide our service from the prying eyes of government officials: Link to www.torproject.org
Do you ever deliver in bulk? This allows our servers IP address and location to remain hidden.
Are there any suppliers that you deal where they are a legal company on the surface? Users must access our site using the Tor hidden browser, protecting their identity: Link to www.torproject.org
What are your personal political views? What about certain topics like child pornography, necrophilia or any other cultural taboos that are usually at the expense of another unwilling person? We don't deliver anything, but our sellers commonly deliver in bulk. We facilitate the platform, the sellers are from the general public.
What are your top non-drug related products? See above.
Is your company white collarish or do you have people who work with you that use violence and intimidation? We do not allow listings such as child pornography and necrophilia. We do take a moral stance, there's a large difference between child pornography and drugs.
Is government bribery common with your company? Probably porn.
We don't use violence or intimidation, nor do we have any need to. We're an online platform. The idea is to move away from the violent streets.
No, that doesn't happen (or hasn't happened yet).
Oh I see so basically your site is like the middle man am I correct? Alright that does make a lot of my questions moot. That's correct.
Have you had any scares before? None.
How illegal is Atlantis? I mean, not for the vendors/buyers, but how illegal is it as the CEO of the website? (Basically, how much trouble would YOU get into, if shit hit the fan?) Google "farmers market bust" for an example.
What did those men do wrong, and do you think you've solved to that issue? A lot of silly mistakes and using very traceable means of trade.
A screenshot of a website doesn't really prove anything. Do you have any proof that you are the CEO of this company? I've added a link to the AMA on the footer of the website.
Without going into any personal details (obviously) what brought you to this biz? I.e. formal versus informal education... comp sci vs. Mba-type edu... or whatever ur able to say. Can't go into education specifics sorry.
Also, as someone who is intrigued and has made half-assed attempts to get a bit/litecoin account setup and given up after hitting various obstacles, am I right to assess your biggest barrier to growth are the hurdles customers need to jump through to make transactions? Or am I just a stupid brain? If you'd like any assistance getting set up let us know, we can point you in the right direction. The seeming complexity of cryptocurrency is definitely a barrier to growth. It's all relatively simple once you get your head around it though. Bitcoins/Litecoins are far easier to obtain in certain countries than others.
Do you keep lawyers on retainer? We have a few lawyers using our platform to offer legal advice for a fee.
Hi. I have never posted/commented on reddit before, after about 5 years of being a lurker. This is too cool an opportunity not to. It's progressed to a full time job for us at this point. There isn't a day we aren't working on Atlantis.
How many hours a week on average do you work? What do you do outside of work for fun? What kind of music do you listen to? I'd love to answer those questions but they're a bit revealing sorry.
What is the biggest security threat you have had? We did a lot of planning in relation to this and haven't had any security issues so far. Our biggest concern would be if a security flaw was discovered in the technology we rely on (e.g flaw in the onion routing protocol or the Bitcoin protocol).
I've heard these sites are much more common than people realize. How much traffic do you guys get? We're one of the largest markets, and the most refined. We get thousands of visitors and hundreds of orders are processed through Atlantis a day.
How come you can post this here and not be instantly arrested? Link to www.torproject.org
Link to en.wikipedia.org
What does one sell on a black market that falls under the "Home & Garden" section...? Ikea lamps...
And nutrient dense soil, growing equipment, CFL's, HPS lamps, etc.
Why do buy / sell these types of items on the black market rather than any major online retailer? Since we use cryptocurrencies its a good way for people to use them to buy other items. Think of it like eBay but with a twist.
Are you worried that your usage of Tor contributes to undermining its image as a legitimate utility for online anonymity, in the same way that Bittorrent is often immediately associated with piracy? We hope that our usage does not tarnish its perception of being a legitimate tool. The core of our operation is to give people access to a 'true free market' whilst still protecting our users and ourselves. However just like a knife - it can be used for good and for bad.
We can only hope that the media and government doesn't portray Tor as a tool used by 'terrorists and criminals'.
Have you caught any scammers yet? Yes we have caught scammers, but we've banned them swiftly. We pushed out new changes earlier that helps reduce the number of scams, all feedback contains the amount of the purchase, preventing users from leaving fake feedback on $0.01 listings. It also contains an 'anonymous' user ID so sellers/buyers can confirm whether the user leaving feedback has left feedback before. This helps catch scammers leaving fake feedback. The ID is unique to the sellebuyer combination, so it cannot be traced across transactions to determine a buyers buying patterns.
Whilst you have swiftly banned sellers, can't they just make a new account? With the nature of TOR you couldn't ban their IP could you? That is correct, we cannot ban them by IP (there is no distinction on the Tor network). They would need to pay a new vendor account fee every time they create a new vendor account.
What are you doing to cut down on scams and discrimination against new buyers? We have implemented a few metrics in the feedback system, these include;
1) Buyer and seller feedback, rated in quality (out of 5).
2) Total purchases made.
3) Account age.
4) Item price in feedback history.
5) User hash which allows people to identify if the buyer is unique or the same person leaving fake feedback whilst still keeping their username anonymous.
We are currently working on two new metrics, these include;
1) Was the parcel received.
2) The users historic purchase total.
Unfortunately new buyers will always be a risk for vendors however with parcel tracking and the escrow system, these risks can be mitigated.
What's the best selling item? The most popular item is Cannabis.
What non-legal things other than drugs are done through your site specifically what's the most common things non-drug? Popular non-legal items other then typical illicit drugs include money handling services, identity services (generating passports) and cybercrime (malware).
The most common popular legal items include books, digital goods, legal money services and erotica.
So the site says I can get a FREE half gram of hash... do they actually send you that? Yes, vendors commonly offer free incentives to gather good reputation at the beginning of their seller career.
How did you get your first customers ? How did you advertise the site like this in the first place and create the initial market base? We posted an announcement in two cryptocurrency community forums and the news spread quite quickly.
We also offered incentives for vendors at other market places to sign up and take advantage of trading with no commission fees.
Where does your revenue come from, if you have no commission fees? Is it purely from cost associated with becoming a vendor? When we were running the 3 month commission free special, our income solely came from the vendor registration fee.
Our current commission structure can be seen below;
Value less than or equal to $50 6% Value less than or equal to $150 5.5% Value less than or equal to $300 5% Value less than or equal to $500 2% Value less than or equal to $1000 1.5% Value greater than $1000 1%
Do you have a retirement plan? Like quit and let someone else take over in a year? Everyone does gets busted in the end. Hell even anonymous. Usually via neverending greed or pride. We don't plan on retiring anytime soon, we've only just begun :)
How much do you make ?(give us a range ?) Is the money vs risk worth it ? Unfortunately we can't give you specifics on how much we earn however all of our profits have been used to enhance our platform. We take more pride in forming a true free market place rather than the dollars earned.
That's actually pretty cool, thanks. Oh also what made you want to get into this buisness? We love cryptocurrency, libertarianism, technology and saw an opportunity to make a free market place when SR was experiencing frequent down time.
Are you a regular customer at Atlantis yourself and what do/did you buy? We do everything on Atlantis except for buying products on it ;)
What is the craziest item you have ever sold? The top two items would be used sex toys/underwear (female vendor) and fig tree cuttings.
Fig tree cuttings? Can't someone just buy that on Ebay? O.o The ones from Atlantis are prettier.
How pure is the coke? It depends on the vendor. They advertise the purity on their product, the majority of it seems to be in the 85% range.
Why would the purity matter, and wouldn't someone prefer 100% pure over something that was cut with other items? Purity matters because you require less of the drug to get the same effect. Other than that it's mostly irrelevant. Yes, you would prefer 100% purity. 85% purity is very high compared to most street cocaine. On average, street cocaine is around 50% purity.
What exactly is usually put in cocaine other than coke to dilute the purity? Benzocaine, Caffeine, Phenacetin and sugars are the most common impurities.
Doesn't "CEO" relate to corporate organizational stucture? Why is a black market operating as a legal company would? We're still an organization and an organization requires leadership.
What's up with al the cats??? Incognito mode.
How much does your physical location matter to run a business like yours? Would it be any easieharder if you were in say, Somalia or on a ship in the ocean in International waters? We have team members in various different countries. I would say physical location is relatively irrelevant. We can access our systems from anywhere, and our location and the server location is protected by the Tor hidden service network.
Is there anything that you will not sell on your website? Restricted items.
Restricted items include anything related to paedophilia, poisons, loans, investment opportunities, assassination services or anything which can inflict harm on another person. If you infringe on these rules we will terminate your account instantly.
Trading any digital currencies (for example Bitcoins, Litecoins, Ukash, Moneypak, Western Union, Moneygram, etc) is forbidden and will result in the items being removed and a warning or ban being issued to the vendor. This is to prevent scams. (See exceptions below for exceptions to this rule).
The trading of counterfeit money is forbidden, and will result in a warning or ban being issued.
We also do not allow listings for 0.01 in the money section. Your items must have a full cost associated to them to prevent people processing transactions outside of the escrow system.
We allow the purchase of physical fiat for Bitcoins and/or Litecoins (has to be legitimate currency; not counterfeit). This is the only exception to the currency rule. We do not, however, allow the reverse of these transactions i.e. customers mailing vendors real currency as this is outside the escrow system.
As an example, if you were a vendor and you wanted to buy $1000 worth of Bitcoins/Litecoins you could do so by making a listing for $1000 labelled "Buying $1000 worth of Bitcoins/Litecoins", and then mail the real currency to the purchaser of your listing in exchange for their Bitcoins/Litecoins that are currently travelling through the escrow system.
Regarding the IT infrastructure, Do you own the servers that host the website? How are the servers connected to the internet? Is it a corporate leased line or just some dodgy hacked cable modem :) Without going to depth, we use dedicated servers provided by a hosting company. All servers are equipped with a 100Mbit WAN link.
I'm probably misunderstanding Tor a bit here then, but how come the hosting company doesn't get into hot water and told to stop hosting Atlantis? Tor traffic looks similar to SSL and our hosting provider doesn't snoop on our servers :-)
Do you pay for that in bitcoins? Is the server encrypted such that someone with physical access couldn't discover its contents, should they choose to? We pay for the servers via anonymous methods and the disks are encrypted. However when running certain applications, the vulnerable point would be RAM.
I'm not sure if the second is possible whilst also offering an internet service, you must have unencrypted stuff in RAM? We also monitor the data center for unauthorized access.
. To me hosting seems to be the weakest link in your personal security (I'm sure users are fine with your encrypted messages). Have you considered distributed hosting on other darknets like freenet? For all the services we offer, we have redundant servers ready to fail over to.
I hope i'm not late to the party, but do you have any thoughts/reactions towards the current chatter regarding PRISM and the NSA? Maybe you can talk about some precautions you took or are taking as a result? Never too late. It's quite scary actually. Tor, SSL, PGP, OTR, all of these technologies are your friends.
Although I will say this is nothing new, the NSA has been doing this for years now. I guess it's finally caught up to them.
We haven't started taking any new precautions as a result, we were already using them.
Would you say that those tools are your friends even if you're not interested in anything too illegal? Props for your efforts though, must be interesting to run that kind of company :) Definitely, with PRISM making headlines this week its always good to protect your privacy.
What is the airspeed velocity of an unladen swallow? I believe it's 11 meters per second.
Had anyone ever been caught in sting operation? We haven't had any incidents reported to us yet (most vendors are very careful and security conscious) however we have read a case in the past where a vendor was caught on a different market place. The market place wasn't to blame, it was just that the vendor wasn't careful with his operation and thus got discovered.
Whats a "virtual credit card"? Prepaid virtual credit cards aren't issued by a bank, have no contract, usually have a set amount and can be used online.
Can't access your site (yet) but do you have vendors in Australia? We have a few Australian vendors, yes.
You're probably not still around, but is it even possible to order items on your site from Japan? I have not even looked at Atlantis or SR because I don't think it's even possible. To my knowledge yes. But don't quote me on that. I think I remember seeing a few Japanese located vendors.
How does a typical black market starts up? For us, we love cryptocurrency, libertarianism, technology and saw an opportunity to make a free market place when SR was experiencing frequent down time.
When deciding for your brand or website name. What other names did you consider besides Atlantis? I like the name it has now just curious to know of the brainstorming behind the site. Also I love your website! Thank you! I can't actually remember any of the other names we considered, probably because they were all bad. Atlantis stuck from the beginning!
And you're welcome, thanks for using it.
Last updated: 2013-06-12 05:44 UTC
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