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1  Alternate cryptocurrencies / Announcements (Altcoins) / [ANN][ICO] CHECQIT, decentralized peer-to-peer lending platform for the unbanked on: February 01, 2018, 04:48:53 AM
‼️IMPORTANT NOTICE‼️
To comply with Canadian regulations, Checqit made a commitment to the Autorité Des Marchés Financiers (AMF), to send back and refund every deposit that occurred on our user dashboard since our official launch on Feb 1st. We committed to refund all users deposits and contributions by Feb 18th at 6:00 pm EST.
2  Economy / Exchanges / Re: Coincheck confirms hack on: January 27, 2018, 04:50:45 AM
This hackers are really hurting the crypto market. This is one of the reason why some people do not trust crypto currency. I think exchanges should really ramp up on security because if this continue more people will lose trust on crypto trading.

Definitely, its unacceptable that exchanges can afford to have loose ends on the security matter. It's not that complicated to have a secure running system, it is all about the administration team and their decisions about their exchanges, which sometimes are unfortunately the wrong decisions.

On the bright side, most exchanges have politics in place for extreme events like this or flash crashes which compensate customers. To which extent is, once again, in the hands of the exchange, but it is still a measure meant to bring back some of that lost trust. Of course, most of the exchanges won't ever have to use these compensating policies, the primary goal being security on a respectable exchange.

As an alternative, a ledger nano s is a mandatory tool for most cryptocurrency holders, permitting to store certain alt coins on top of the most popular cryptocurrencies. 


3  Economy / Exchanges / Re: Coincheck confirms hack on: January 27, 2018, 02:18:14 AM
There seem to be a greater hack than that of Mt. Gox and an estimated loss of $533million in cryptocurrency. Are we going to constantly experience theee hacks now? Details here: https://www.coindesk.com/coincheck-confirms-crypto-hack-loss-larger-than-mt-gox/

They also apparently immediatly addressed the situation on their twitter stating that they'll compensate users through undecided means yet. Most of the divulgued losses are NEM coins so far, and i've read that some ripple funds have also been moved apparently from Coincheck since the hack.

So chances are that the biggest losers from this event will be Coincheck themselves for losing trust of customers, and of course NEM prices will most likely be affected and slide a bit back down from the incredible run up that's been observed by NEM.
4  Economy / Economics / Re: Will bitcoin effect the current economy system? on: January 27, 2018, 01:41:58 AM
Since many uses bitcoin as the new cashless method. So does it will effect to each own country's economy?

It definitely will, of course cash won't be erased from out society, but a lot of fiat has been converted to cryptocurrencies so far and we can expect the tendency to at the very least remain stable. It'll ultimately be up to every country to gather income taxes from the cryptocurrency investors. It'll be up to the banks to help their clients invest in the cryptocurrency world rather than go against it, cashing in profits on the brokerage.

We're seeing index funds looking at cryptocurrencies, hedge funds also, on top of the futures of bitcoin, the cryptocurrency world ,while still in its infancy state, is definitely going to bring humanity through great changes of economics in most of the countries in the world.
5  Economy / Economics / Re: Bitcoin is useless on: January 27, 2018, 01:31:25 AM

I think calling it useless is going a bit far, since obviously the lightning network should bring a fix to some of these problems for the retailers. Of course, this'll remain unchanged on the exchanges, Andreas Antonopoulos himself has confirmed this, so the problem remains of fees or transaction times remain in some places.

We've seen bitcoin's market dominance go from the likes of 60% to 30-35% currently, wihle this is because of the other very competitive cryptocurrency projects that are out there and being pushed to crowds of cryptoenthusiasts through bounties and all sort of marketing means, adding on top of that bitcoin cash which is also being heavily promoted, another reason for bitcoin's demise is the lack of communication coming from the development team
6  Economy / Economics / Re: What's in a Satoshi? on: January 27, 2018, 01:18:42 AM
Why is 1 satoshi the smallest division of a Bitcoin, and why is it important that 1 satoshi cannot be divided any further? Could there be a viable system where 1 coin can be divided infinite times?

One Satoshi is 0.00000001 Bitcoins. I think this is just an unofficial name for the smallest unit possible in Bitcoin. As far as the reason why a Bitcoin can only be divided down to 8 decimal places, I think that’s just the way the creators set it up. I don’t know if it could be changed at this point, but if so, it would have to come from the Bitcoin Foundation to make that determination.


The true reason for the smallest increment of bitcoin being 0.00000001 is not known, it was decided that this would represent the 'cent' , its like asking why dollars are only divisible up to the second decimal, it was simply made that way.

Can it be subject to change, it'd be very surprising, considering the amounts of satoshis available to the public (21 000 000 bitcoins having 100 000 000 satoshis each ) i don't even think that they considered changing it one day due to the very high amount of satoshis available.
7  Bitcoin / Legal / Re: Why PayPal does not like BitCoin sellers? on: January 24, 2018, 11:22:37 PM


Paypal is in a partnership with Coinbase, letting their users cash out their bitcoin with Paypal. Additionally, behind the scenes, PayPal’s been showing signs of interest in virtual currencies. A recently published patent application from PayPal shows the company has explored integrating bitcoin and other virtual currencies like LiteCoin and Dogecoin into physical smartphone payments. The patent application was filed in December 2015.

The payments giant recently added Wences Casares, CEO of bitcoin wallet Xapo and a renowned bitcoin advocate, to its board of directors in January 2016.

Also, PayPal also held a hackathon in December, according to multiple sources with knowledge of the event. The purpose? To find out new ways for PayPal to use bitcoin and blockchain technology. The attendees included Snapcard, a B2B bitcoin payments company, Coinbase, and Chain. Developers tested things like cross border payments, merchant processing, and creating a digital wallet using bitcoin.

Depending on how well paypal can integrate the lightning network into its structure, Litecoin seems more viable right now but bitcoin will never be really far behind with all the development being poured into the lightning network.
8  Economy / Marketplace / Re: How can we encourage local businesses to accept BTC? on: January 24, 2018, 03:10:13 AM
I am looking to help move BTC forward into our economy more and would like to get some suggestions on how we can get more retailers to accept BTC as a payment.  The best part about accepting BTC is that they do not have any threat of charge-back from the customer.  I am just looking for some more input before I start approaching some of these local retailers.

Two words, Lightning Network. Right now it is functional and certain retailers are using it right now even though it is in beta testing phase. The hype is definitely palpable in the bitcoin world and i think that a lot of analysts and journalists were absolutely not and some still aren't taking this into consideration when evaluating bitcoin and spreading fear amongst the cryptocurrency community.

This is happening for the simple reason that they are not aware of it existing, but some are picking up on it and it'll only go forward from here, in journalism or in any analysis you certainly don't want to be the last one to news of this magnitude.

It is up to every retailer to set up their own Lightning network node, i strongly encourage you to read about the project of the lightning network and its different layers which is currently being pushed firmly into development of a new layer to make it scalable in the long term in a sort of contest throughout universities having access to the lightning network code. 

You can understand from this that the lightning network is designed specifically to address this retailer problem, the resulting consequences of installing a lightning network node in a business is of course reduced operating costs as well as faster transaction processing times.

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