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61  Alternate cryptocurrencies / Altcoin Discussion / Question about smart contracts. on: July 10, 2019, 02:05:56 PM
Let’s say two people want to bet on a game. They agree about the scores, they agree about the bet amount and they lock up money.

The problem is, what becomes the trusted data source?

Is there a way to also agree upon the data source?
We both agree that google is the truth. If google says the winning score is 10..:the truth is 10.
Is it possible for two parties to agree on the source of this data?
62  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Is the Litecoin rally over for now? on: July 04, 2019, 05:01:05 PM
I bought a bunch of LTC at like $40. I’ve seen the USD VALUE go up a lot, and the Satoshi value go down from like 1.0BTC now to .6ish.

Ultimately I care more about Satoshi values.

Should I dump my LTC for BTC and continue to ride the wave up, or be patient and wait for the halvening and see if LTC continues to rally despite taking a bit of a breather.

My target LTC sell was $200. I thought we would be there by now.
for now I suggest switching your ltc to btc. this is possible to speed up your profit than you have to wait until selling ltc at the price point you want. now ltc is very difficult to experience and is still in place

BTC dominance is at 63%. I think that ship has sailed. At this point I would hold the altcoins and hope the dominance comes down.
63  Alternate cryptocurrencies / Altcoin Discussion / Re: What is the best USD stablecoin? Tether, USDC? on: June 26, 2019, 11:28:38 PM
Perhaps a split between multiple stable coins is the most prudent method
64  Alternate cryptocurrencies / Altcoin Discussion / Re: What is the best USD stablecoin? Tether, USDC? on: June 26, 2019, 11:27:59 PM
This must be the first battle of stable coins topic I've read in a long while.
I'm just curious, why would you want to store a stable coin?

To choose which one, I would avoid the shady USDT for long term storage.  

3 letter word. Starts with a T ends with an X.
65  Alternate cryptocurrencies / Altcoin Discussion / What is the best USD stablecoin? Tether, USDC? on: June 26, 2019, 06:32:19 PM
If you wanted to store USD on your cold storage for, let’s say one year, which stablecoin would yo trust the most to still be worth 1 USD in a year?
I ask because I simply don’t trust Tether. I think the day could come where it is either regulated out of existence, or it’s lack of USD reserves causes it to crash and burn.

I’m thinking USDC is the best way to go, because it is backed by a real US company (Coinbase) which has had real longevity in crypto. It can be stored on a ledger nano in my ether wallet. I just feel like it’s going to be around in a year, it’s Coinbase.

Any thoughts or advice?
66  Alternate cryptocurrencies / Speculation (Altcoins) / Is the Litecoin rally over for now? on: June 25, 2019, 05:30:51 PM
I bought a bunch of LTC at like $40. I’ve seen the USD VALUE go up a lot, and the Satoshi value go down from like 1.0BTC now to .6ish.

Ultimately I care more about Satoshi values.

Should I dump my LTC for BTC and continue to ride the wave up, or be patient and wait for the halvening and see if LTC continues to rally despite taking a bit of a breather.

My target LTC sell was $200. I thought we would be there by now.
67  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Litecoin halvening price speculation? on: June 01, 2019, 10:49:42 AM
I have a bag of LTC. I am thinking about selling BEFORE the halvening. My target is like $220.
I plan to dump to BTC. Because ultimately I want more bitcoin, and altcoins are just a way of getting there.

When would you sell LTC with regard to the August halvening?
What use price seems reasonable? I’m thinking $200 range if achieved.  
I am usually quite confused about this halving sometimes, despite the little knowledge I have about its reward, some people believed this is the time price of such coin goes up, but from your point, seems you believe the price will go down, if not, why would you be selling before halving when you are supposed continue holding till after halving when the price will skyrocket.

Well, I am not an holdler of LTC so it would not really be a bad idea to me if you sell your LTC to bitcoin because whatever action you take as regards bitcoin investment will definitely ay you more than any action you take in LTC.

Buy on rumors, sell on News
Tends to dump around the tine of halvening
68  Bitcoin / Hardware wallets / Re: In simple terms...how does ledger transmit data securely? on: May 27, 2019, 06:54:02 PM
But what I can’t seem to understand is how the ledger transmits data to the blockchain saying “I’m sending 2 bitcoins to a public key.” Without accessing those private keys. Like it only transmits signed transaction data?? What is that.
Ok... so going back to your original post, it seems like what you're actually thinking is "how the Ledger can "sign" a transaction, without accessing the private keys?".

The short answer, is that it can't... it absolutely MUST access the private keys. However... the trick to the Ledger is that it has the "secure element". This is basically a mysterious "black box" containing all your private keys... the black box can see/access your keys... but no one else (including you) can. So, the idea is that you put in an unsigned transaction... the black box does "magic black box stuff"™ and a signed transaction comes back out.

You can't see what is in the box, you can't access what is in the box... the box will only accept an unsigned transaction[1] as input... and will only give a signed transaction (or error) as output. It has a bunch of inbuilt code and functions and magic smoke that allow it to achieve this wizardry... but due to Non-Disclosure Agreements and lot's of secrecy... the only people that actually know exactly how the internals of this black box work are the manufacturers. Wink

Hopefully that helps...


[1] - In case any pedants are here... yes, I know it will also accept "messages" for signing. Tongue

This helped TREMENDOUSLY. The only thing I don’t understand is how that magic box can’t make shit up? Like sign a transaction suggesting it has the private keys to 3 bitcoins instead of 2. That’s what I don’t get. 
69  Bitcoin / Hardware wallets / Re: In simple terms...how does ledger transmit data securely? on: May 27, 2019, 11:10:54 AM
The "data" (in this case, the details of the transaction) is secured once the transaction has been "signed". After it has been signed, any modification to the transaction details will cause signature validation to fail and the transaction will be rejected by any node you attempt to pass it to. Likewise, if the data is NOT signed, nodes will reject it as "unsigned". You can think of the "signature" as like a tamper proof seal wrapped about the transaction details. Nodes are configured to reject transactions if the seal is "damaged" or "missing".

So, what happens is that you first create an "unsigned" transaction in the software that you are using in conjunction with your ledger (ie. Ledger Live or Electrum or MEW etc)... Note that this "unsigned" transaction is built using the public keys that the Ledger device will export to the software so it can determine which UTXOs you are able to spend (ie. which public keys/addresses are "yours"). The private keys are safely stored on the Ledger device in the secure element and are never exposed.

Once you're ready to send, the "unsigned" transaction is first passed to the Ledger device for signing. This is why it is very important to double check the info that the Ledger device displays, with the info being displayed in your wallet software... if the info matches and (more importantly) is what you were actually trying to achieve (ie. send 2 bitcoins to public key X), you "confirm it" by pressing the "yes" button on the device and then the device will go ahead and sign the transaction using the appropriate private keys inside the secure element, and then it will pass the "signed" transaction back to your wallet software.

At this point, the transaction can not be modified in any way... so, you're free to broadcast this "signed" transaction to the network, safe in the knowledge that no-one can modify it because of the "tamper proof seal"

Thanks for your response. Perhaps I’m...how you say...not smart, but I still don’t get it. I sort of do...but not really.
70  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Litecoin halvening price speculation? on: May 27, 2019, 01:02:48 AM
Right now, I really confident we can break 130-150$ that's my target for right now. Litecoin can reach more than that if always on a good trend, just wait next waiting a candle from Bitcoin chat. Bitcoin can break another resistance next weeks around 8300-8500$ after that altcoin will follow bitcoin movement.
^ I will support this prediction because we're just the same on the pathway in mind or in the range from $150 to $200 price in the market. Ever since Litecoin was always swinging by the price of Bitcoin when it is having price movement and it is always on the top 10 altcoins rank in CoinsMarketCap. We are exciting for the next halving of Litecoin we don't know yet either it will grow ap or just maintaining the level of what is the price now.

Does it really matter? LTC will still be worthless. Will it ever find acceptance with corporates? regular public? Even the latest releases of LTC Core 0.17.1 doesnt boast of any noticeable features. So how can you guys expect it to bump?

Litecoin has network affect. Each boom and bust cycle is like game of thrones. Some coins lay bloodied and beaten to a pulp, while others remain on top. Litecoin may fall away like the hundreds of other coins that were in the top...but for now it looks like Litecoin has won this battle, and is enjoying the spoils.

For now it gets to have value. But it’s possible sometime in the future it falls into obscurity. I just think the longer it stays on top, the more it ads to its mystique and power, and it only strengthens its longevity.
71  Bitcoin / Hardware wallets / In simple terms...how does ledger transmit data securely? on: May 26, 2019, 11:33:44 AM
So, I understand that my bitcoin is stored on the blockchain, not on the ledger.
I understand that the ledger holds the private keys in its secure element that claims ownership to those coins.

But what I can’t seem to understand is how the ledger transmits data to the blockchain saying “I’m sending 2 bitcoins to a public key.” Without accessing those private keys. Like it only transmits signed transaction data?? What is that.

Sorry, I barely even know how to ask the question but I’m sure someone knows what I’m trying to ask and can explain in in a really simple way!

Thanks. I would love to understand this concept and stop thinking about it.
72  Alternate cryptocurrencies / Speculation (Altcoins) / Litecoin halvening price speculation? on: May 25, 2019, 12:46:00 AM
I have a bag of LTC. I am thinking about selling BEFORE the halvening. My target is like $220.
I plan to dump to BTC. Because ultimately I want more bitcoin, and altcoins are just a way of getting there.

When would you sell LTC with regard to the August halvening?
What use price seems reasonable? I’m thinking $200 range if achieved. 
73  Other / Beginners & Help / 24 word seed recovery question? on: May 20, 2019, 07:10:43 PM
I have a ledger nano s with 24 seed word.
I got a ledger nano x, and entered that 24 seed word.

Now all my private keys are on both ledger devices.

My question is, let’s say I generate a new Litecoin wallet on my new ledger nano x. I send 1 LTC to that device. Is the private key to that wallet also on my original nano s device?

So let’s say I get a third device and enter that 24 seed word? Is that new Litecoin wallet on there?

So confused.
74  Bitcoin / Bitcoin Discussion / Re: Bitcoin HAS intrinsic value. Easy explanation. on: May 15, 2019, 10:39:50 PM
Bitcoin is certainly more valuable than gold. It can do a lot of things gold cant do.

You tried with the brick analogy ... the only problem is that brick increasing in price would mean that:
1. Bricks become costly for  people to use.
2. Nobody would like the increase in price.
3. The number of people using and building with bricks will decrease.


Bitcoin increasing in price:

1. Bitcoin will still be affordable to anyone no matter the price.

2. Most bitcoin owners will like the price increase

3. The number of people using and building on bitcoin/crypto will increase.

You see why the brick analogy is not a perfect one?

I tried. Oh well.
75  Economy / Speculation / Re: Anyone here long enough? on: May 15, 2019, 01:51:28 PM
2014 Veteran here.

I am a HODLER for the most part. You will NEVER time things well. Good example:

I bought 5 bitcoin back in 2014 for an average price of about $800.

Than came the MT gox crash and I saw the value go from $1200 all the way down to $200. I kept buying small
Amounts. And eventually just gave up. I waited YEARS and when the price finally hit $1000 again I said HALLELUJAH! I sold 2.5 BTC for $2500. I felt so smart, I finally recouped my principal.

Than, pretty quickly Bitcoin spiked to 20K. Ouch.

So, for the most part I HODL. Because bitcoin does what bitcoin does. Every so often a sell some, but it always goes back into the market. Usually in the form of altcoins.

I’m back up quite a bit, but not quite back to 5BTC again.

76  Bitcoin / Bitcoin Discussion / Bitcoin HAS intrinsic value. Easy explanation. on: May 15, 2019, 01:40:52 PM
I’ve been in this space since 2014, and the common criticism of Bitcoin is that unlike gold it has no intrinsic value.  I always found this hard to respond to, usually saying things like “they just don’t get it,” etc.

But it finally dawned on me. And the best analogy I can think of is as follows:

Bitcoin is like a brick.
To build a house, you need bricks, and bricks cost money.
To build/utilize the bitcoin network, you need bitcoin (or the bricks of the network).
The more scarce the bricks are, the more they cost.
The greater the network effect, the more demand there is for bricks.

Nothing demonstrated this more than Ethereum during the ICO craze.
ICOs were built on Ether. Ether was the brick.
To participate in ICOs, you needed to buy Ether.
Ether became scarce, and thus the brick became more expensive.
ICOs died, and the bricks became less valuable.

This is the best analogy I can come up with.
77  Alternate cryptocurrencies / Altcoin Discussion / NEO vs. Ontology...own one, both, or neither? on: May 01, 2019, 03:57:05 PM
In 2017 I bought 100 NEO at $20, and road it all the way up to $200.  I was obsessed with the project and thought De Hongfei was the next VItalik.  Well, than the crash came and saw my 2000% gains turn...gasp...to a loss.

So I sold my NEO, and moved on.  Having lost faith in the project.  It felt like another ME TOO Ethereum project, and I saw the likes to EOS, Stellar, Cardano, etc. pass it on by.

Recently, I bought 1000 Ontology.  I felt like that's where the new energy was with regard to the NEO community, and I still have those locked away on my ledger.  But now I'm seeing NEO 3.0 news upcoming, and with NEO at $9 I can easily get back my 100 NEO and have a stake in both NEO and ONTOLOGY.

Anyone have any opinion? I'm conflicted on the future of these projects.
78  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: I’ve been in Bitcoin for 5 years, and USDT is the greatest threat I’ve seen! on: April 27, 2019, 09:13:40 PM
Even if it doesn’t sink Bitcoin, it’s just not fair. People complain about the US govt printing money. Why should these fools just get to print money and own bitcoin?
79  Alternate cryptocurrencies / Service Discussion (Altcoins) / I’ve been in Bitcoin for 5 years, and USDT is the greatest threat I’ve seen! on: April 27, 2019, 06:33:08 PM
So, let’s say I want to buy a new car. The new car is $50,000. I could print 50,000USDT, send it to Binance and convert it to 10 BTC. Than I can send that 10BTC to a shady fiat gateway, and cash it out for $50,000 real USD...and buy a car.

Bitfinex found a loophole. They have a license to print money and we are allowing it to happen!

#DelistTether now!
80  Alternate cryptocurrencies / Speculation (Altcoins) / Re: I want to put some BTC back into altcoins...suggestions? on: March 03, 2019, 12:16:02 PM
you want coin suggestions aka shilling shitcoins but i will give you a better suggestion. you should stop being lazy and wanting to rely on luck and others and instead start learning how the altcoin market works. you are wrong about altcoins bottoming out. the altcoin market is a sea of shitcoins that get pumped and dumped and at all times there are some that have bottomed out and some others that are still dumping and some others that are getting pumped. the number of them in the last group is always smaller.
for example in the past couple of days ENJIN was one of the shitcoins that got pumped (mostly because of some arbitrary news). BNB was another that was being pumped because of Binance DEX crap.
there are lots of others that are getting pumped like this. you have to find out which one is good at that time and jump on board (both of these that i mentioned are already too late to buy)

All due respect my friend, if you check my history I’ve been on this forum since 2014. So...I think I know a thing or two. Asking for suggestions from others does not usurp my own research or judgement. It’s a supplement. Thanks for your input.
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