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801  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: Ethereum being added to Bitfinex on Monday on: March 14, 2016, 05:05:16 PM
Long time ago, I traded darkcoin in bitfinex, and they took it off. Let's see how much vol ether will trade there. This is a real test.


Was not Dash at or very close to its all time high when it was added to Bitfinex?

Edit: Take a look at the 3 day chart for Dash on Bitfinex to see what I mean. https://bitcoinwisdom.com/markets/bitfinex/drkbtc
802  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: March 14, 2016, 04:38:09 PM
"Gold, Bitcoin And Economic Freedom" - Monero mentioned:

http://seekingalpha.com/article/3958137-gold-bitcoin-economic-freedom

Given the topic of the article what I find interesting is the scammy business model of getting someone interested in an article and then attempting to "force" them to register midstream in order extract personal information for commercial advantage. This is accomplished by manipulating the html code and like most forms of DRM can be defeated. In this case a fast Edit > Select All does the trick after changing the page number in the url.

The attack on privacy and freedom by the business model of the publisher seems more relevant to me than the content of the article.

Edit: It is not the regulators who have to worry about Monero, it is businesses who use deceit to collect people's personal information and then traffic in it for commercial advantage that have a lot to worry about Monero, starting of course with the publisher of the said article.
803  Alternate cryptocurrencies / Altcoin Discussion / Re: All crypto with an IPO/ICO is trash - no exceptions. Just launch fairly. on: March 14, 2016, 07:44:54 AM
Thanks for that link.  I think we are really lucky these rules are in place.  They are strikingly sane for a government agency, and make sense.  I hope that if the SEC is gonna make something similar, they come out with it sooner rather than later.  Modding several cryptocurrency subreddits makes me wonder if I am considered 'held to a higher standard' than an average buyer/seller of crypto, and some statement either way would be nice: "we don't care", "we intend to regulate this at some point, but are figuring out what we want to do", or "here is what we are considering implementing".  I'm sure some devs wonder the same thing.  
  
It's to hard to remember, but back in 2011 (ish) there was a time when people didn't know if the US was gonna swoop in any day and outlaw all cryptocurrency.  The early adopters of Bitcoin didn't get rich without losing a few years off their life due to stress.

I doubt the SEC is going to give guidance here. We must keep in mind that they argued Bitcoin was effectively money in the Trendon Shavers' (pirateat40) case. I do not see how they can argue that a de-centralized (FinCEN definition) is a security. Who is the issuer of the said security? As for centralized virtual currencies I see an Administrator who is not registered as an MSB having serious problems first with FinCEN, In addition there may be problems with the SEC.  

Edit. If I feel a crypto currency is a centralized virtual currency as per FinCEN I avoid it, so I do not get to the point of evaluating if in addition there are also issues with the SEC.
804  Alternate cryptocurrencies / Altcoin Discussion / Re: All crypto with an IPO/ICO is trash - no exceptions. Just launch fairly. on: March 14, 2016, 07:13:38 AM
Those rules are hard as fuck to understand, honestly.  But one thing that jumped out at me is the definition of 'administrator'.  Is someone who premines a currency and sells it off in an ICO/IPO an administrator by those definitions?  
  


Yes, that is how I understand the guidance.

The word "pre-mined" was used in the Ripple case
Quote
3. The currency of the Ripple network, known as “XRP,” was pre-mined. In  other words, unlike some other virtual currencies, XRP was fully generated prior to its distribution. As of 2015, XRP is the second-largest  cryptocurrency by market capitalization, after Bitcoin.
https://www.fincen.gov/news_room/nr/pdf/Ripple_Facts.pdf
805  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: March 14, 2016, 06:50:24 AM
...

It isn't just the DB development in Monero, it has far more changes and as you said plenty more in the pipeline.

Bytecoin = Unknown, surreptitious team and questionable decisions. -> Easier transition to Monero with now a solid crypto team and various developers.
Ethereum = Limelight hogging faces with viral marketing backed by wealthy Bitcoiners (and allegedly financial institutions). Tough ask for FLOSS to replicate.

Time will tell. One big question I see with Ethereum given its market cap and history is FinCEN. I just cannot see this regulator ignoring Ethereum with its premine.
806  Alternate cryptocurrencies / Altcoin Discussion / Re: All crypto with an IPO/ICO is trash - no exceptions. Just launch fairly. on: March 14, 2016, 06:32:15 AM
A simple formula is to follow the FinCEN guidance. https://www.fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.html
If
1) It is a centralized virtual currency
and
2) There is no MSB registration by the "Administrator" making the currency non-compliant
then
3) Run
807  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: March 14, 2016, 06:16:49 AM
...

That is a brilliant theory @ArticMine and supporting points @smooth.

The key difference with any existing FLOSS fork of Ethereum is that it is going to be wildly incomplete as Ethereum itself is at a nascent stage with active development team and known public figures marketing it out in the open. The development of the platform itself is going to take at least a couple of years before it stabilizes and it isn't going to be very easy for FLOSS projects to just merge upstream code due to stability issues potentially percolating down. And then you need actual apps on top of such a platform to show real usage and meaning. In contrast Tenebrix and Bytecoin were somewhat "complete" coins (not platform) to have a community driven non-premine clone get support from the get go.

It is very disappointing to see notable Bitcoiners support the premine and we are talking some big names here. By this time everyone in the crypto world is well aware of Monero, the big pockets haven't shown that kind of equivalent interest for whatever reasons (they should have).  

The Bytecoin coders and cryptographer could have eventually decided to work with Monero given the community and development around it but we all know that is a tough ask given the animosity that happened over time. I also think they were behind the big attack back in 2014 and not BCX.

As for incompleteness Bytecoin was and is very much far from complete. For starters the lack of a database. One only has to look at the changes that have taken place in Monero and the changes that are in the pipeline and planned for Monero to see this. As to which coin is more incomplete Bytecoin or Ethereum that is a very interesting question. What can happen with an Ethereum fork is in many ways similar to what has occurred with Monero. It starts as a fork but then there is a strong divergence in the codebase as the fork completes the missing parts.
808  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: March 14, 2016, 05:06:37 AM
So here is a question: why did BCX choose to fuck with XMR?  I remember it all like it was yesterday, but I'm thinking it must have been at least a year ago.

I'm just not plugged in enough to know if he has done anything similar since, but wouldn't one think that BCX vs. ETH is a real possibility with all the dooshiness afoot?


BCX also went after LTC. https://bitcointalk.org/index.php?topic=96186.msg1060442#msg1060442. Here is some history on LTC https://bitcointalk.org/index.php?topic=47417.0 Now what do LTC and XMR have in common? They are both solid FLOSS projects with no premine. Now what else do LTC and XMR have in common? Well LTC was forked from Tenebrix and XMR was forked from Bytecoin. For that matter what do Tenebrix, Bytecoin and Ethereum have in common?. Premine. Yes I know that Bytecoin supporters claim is that it is a ninjamine rather than a premine but the evidence does indicate premine. http://https://bitcointalk.org/index.php?topic=740112.0

My theory is that if someone forks Ethereum into a clean FLOSS project with no premine there is a good chance BCX would try to go after the fork. As for BCX going after Ethereum itself it just does not fit the pattern.
809  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: March 13, 2016, 04:37:10 PM
BCT-E apparently has also been targeted. https://bitcointalk.org/index.php?topic=1396928.0
810  Alternate cryptocurrencies / Altcoin Discussion / Re: Microsoft Store to not accept bitcoin anymore on: March 13, 2016, 02:53:19 PM
Or maybe this is due to transactions taking up to a day to confirm due to the 1 MB blocksize limit in Bitcoin. How long is Microsoft supposed to wait for blockchain confirmation? Until GNU/Linux becomes the dominant OS on the desktop?  Wink

Edit: I find it hard to blame Microsoft here.
811  Alternate cryptocurrencies / Altcoin Discussion / Re: POLL - Which crypto do you feel is the biggest "scam"? - BE HONEST PLEASE on: March 10, 2016, 03:30:53 PM
Do you like what your elected officials are doing with your tax dollars.  Don't get me started.

I came here hoping that today's American youth will help me make America great again, and it seems to be working:

If you're interested in a really long-range perspective:

Back in the Great Depression, folks got into the habit of fixing their own things because money was tight. That gave birth to a huge DIY culture. But it also gave birth to a huge number of people who had essentially trained themselves into becoming good with machines. So in the 1940s [WW2], '50s and '60s, there was a huge pool of workers who were skilled labour because they had trained themselves to be so. Not just the folks who had to slog through the Great Depression, but also the kids who put together go-karts, jalopies, radios, etc. in their backyards, shop classes, rooms, etc. After that great self-education, America had a great labour force perfectly times for the post-WW2 era.

This "long tail" of self-trained skilled workers made America great again after it was humbled by the Great Depression.

So: how to make America great again now? What better long-term framework than the same one that did work to get America on top after the G.D.?

This time 'round, it's computers and tech. Today's answer to the "Go-Kart" is the Raspberry Pi. Pis are already being used for the Internet of Things.

That's the long-range way to make America great again: chivvy every kid you know to get a Raspberry Pi and knock around with it. It's the "jalopy" of today! As with the last wave of DIYing, it'll take years to see any effect on the economy. But once those years are over...

...everyone will see that America made great again by America getting back to its DIY roots. Smiley

This makes an excellent case as to why DRM (Digital Rights Management) is pure evil. The reality today is that the United States has been pushing worldwide at the behest of organizations such as the MPAA, RIAA and (big content publishers etc.)  anti-circumvention laws that would make everything described above illegal and subject to civil and criminal penalties. Given that the United States is the country that is pushing for a world where tinkering with anything will be a criminal offense, it is very unlikely that America would become great again and another country or countries will take its place.  
812  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: March 10, 2016, 06:17:23 AM


Speculation: Monero will replace Bitcoin long before anyone can replace the priceless comic antics of the DashHoles.

Or Monero becomes the most liquid market for Dash. That could happen.
813  Alternate cryptocurrencies / Altcoin Discussion / Re: The altcoin topic everyone wants to sweep under the rug on: March 08, 2016, 10:36:56 PM
It comes down to the question of whether a crypto currency is a security. For decentralized virtual currency (FinCEN definition) I argue the answer is  no, since by its very nature a security requires an issuer (the person who is required by law to register or cause registration to occur). For centralized virtual currencies this is where it gets interesting. In this case there is an issuer; however that does not mean there is a security. Take Ethereum for example. In this case there is a very good case that unregistered securities were issued in the IPO / ICO. The more interesting question is was the security the Ether itself or the promise to deliver the Ether at a future date before it was created?  I say the latter.

When it come to fitting certain members of this forum for an orange jumpsuit in the United States, my bet is on FinCEN over the SEC. FinCEN needs to prove in court is that the virtual currency is centralized , the SEC in addition to proving in court the virtual currency is centralized also has to prove in court that it is a security.,

Edit: I believe it is only a matter of time before FinCEN makes a move on Ethereum.
814  Alternate cryptocurrencies / Altcoin Discussion / Re: POLL - Which crypto gets the most "SCAM!" accusations? - BE HONEST PLEASE on: March 08, 2016, 09:59:07 PM
...

It is hilarious that Monero supporters hate Dash so much, they waste their vote on Dash and allow Ethereum to be less scammy than Monero in the poll. Emotions run hotter than strategic logic.

It is also a question of familiarity. Many people would not vote for example for Factum simply because they haven't spent the time to analyze it. All I know about it is that it is highly centralized. that is enough for one to eliminate it as a possible investment. It also means I would not spend any further time investigating it. My approach to Ethereum was similar. After I saw the pictures of spinning diamonds in their lavish marketing campaign that was enough for me to say no. So why spend the effort to investigate it in detail?

I would say many Moenro supporters would list Bytecoin at the top of the scam list on the basis of an 82% premine disguised as an 82% ninjamine. Dash has attracted a lot of attention among Monero supporters because at one point it was seen as direct competitor to Monero, so one spends the time on the competition. I must say that by any objective measure of scamminess Dash does not come close to been first on the list.
815  Alternate cryptocurrencies / Altcoin Discussion / Re: POLL - Which crypto gets the most "SCAM!" accusations? - BE HONEST PLEASE on: March 08, 2016, 09:36:38 PM
Now, if we were voting on biggest scam, the poll would be correct with dash in the lead.

Biggest would be Ethereum. Dash is a minnow compared to the ETH.

I agree and have voted accordingly.
816  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: March 07, 2016, 05:48:33 PM
I suppose someone probably already posted this chart. I had never looked at the long-term Monero chart before:

https://www.tradingview.com/chart/XMRBTC/3QZ1D3nD-The-Monero-Bear-Market-Is-Over/

That is impressive. Monero has broken out of the down wedge, which is very technically bullish. But that doesn't mean it can't fall back first to the historic support at 0.0017 BTC. And if BTC falls to < $150 as I expect, then that could mean Monero declining significantly and still be in the bullish formation as Bitcoin makes its final bottom and we start a new bull market in crypto (I subscribe to the theory that BTC is still declining from 2013).

I do agree with the theory of a long term bear market in Bitcoin. I see this because of the following:
1) There is a widening chasm between the promise of Bitcoin,  a digital and fungible currency that can be used by anyone in the world to pay anyone in the world without the need of an intermediary and the reality a digital non fungible currency that can in practice only be used as a settlement layer between the intermediaries Bitcoin was supposed to replace under the promise.
2) The macro economic factors identified by Dent and Armstrong, namely a 30s type deflationary depression. What Dent got wrong is he failed to take into account the impact of the massive quantitative easing or money printing by the central banks since 2008. This would make a strong fiat currency such as USD attractive.

In the scenario above one would expect an overall bear market in crypto currency; however just as was the case during the 1930s with stocks there will be exceptions that buck the overall trend. Identifying the latter is where the real long term opportunities lie. Monero could very easily buck the trend since objectively it is very well placed to become the promise of Bitcoin. What this would point to for Monero is very strong long term prospects combined with extremely high short to medium term volatility and risk. My personal position is almost exclusively a combination of CAD and XMR with no debt. A convertible fiat other than USD can make sense where a person's expenses are denominated in that currency.

817  Alternate cryptocurrencies / Altcoin Discussion / Re: I just mortgaged my house to buy ethereum on: March 07, 2016, 07:33:22 AM
Hi guys,

I'm a father of 1 with another 1 on its way Smiley
I've been watching some of Vitalik's videos. He is just amazing. I have a really good feeling about Ethereum. I just mortgaged my house to buy a lot of the Ethereum gas. I showed my wife the video's and she says that if I can understand it then it's probably a good idea. While I'm a little nervous about losing everything, I needed to find someway to pay for my children's future. How high do you guys think Ethereum will go? I'm not crazy am I?

Cheers, Bean

This kind of post I take as an indicator of an upcoming crash in Ethereum. It reminds me of stories about shoeshine boys speculating on stocks just before the 1929 crash. It also leads to an idea involving crypto currency and real estate. 1) Buy a crypto currency with strong long term fundamentals. 2) Hold until the market recognizes the fundamentals. 3) Sell a small portion once the market has recognized the fundamentals. 4) Use the proceeds to purchase real estate for cash (no mortgage), by making low ball offers on properties in foreclosure or about to go into foreclosure.

818  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: March 07, 2016, 06:24:36 AM
...
I'm not so sure about that hypothesis.  Ethereum came after touring complete open source that could be added on to any crypto.  Apple has been monetized far more than any other Unix / Linux based system.  Red hat has done well vs open sourced Linux for servers.  Windows vs Ubuntu.

If anything I would say the organization creates a decision  making process that seems to outthrive  open source.  

The evidence is otherwise. Ethereum to put it mildly is a sitting duck for FinCEN. Search for "FinCEN Ripple". Apple is fast loosing market share to the Free Libre Open Source Software (FLOSS) Android, apart from the fact that both Mac OS X and iOS contain large amounts of FLOSS. RedHat is as FLOSS as many GNU/LInux distros including Ubuntu, Mint, CentOS etc. Microsoft has lost or is loosing virtually every market from Supercomputers to Mobile to FLOSS. Even on the desktop it is slowly loosing ground. What many forget about FLOSS, is that FLOSS is a multi billion dollar business.

Edit: Proprietary Unix has basically lost the server market to GNU/Linux (including RedHat) over a decade ago.
819  Alternate cryptocurrencies / Altcoin Discussion / Re: Microcash 2016 - The Return of Realsolid? on: March 07, 2016, 05:46:25 AM
Anyone remember Solidcoin, Coinhunter or Realsolid of mcxNOW fame?


Five years ago he collected a bunch of BTC from donors to finish a much hyped alt coin called Microcash.

Long story made short, after collecting several thousand BTC from donors (approximately $10/BTC at the time) he disappeared.

A few months later he resurfaced claiming he was hacked but nonetheless launched mcxNOW days later.

We all know how mcxNOW ended.


Now it appears he may be back.

The user Pineapple tells us that Realsolid is launching Microcash here

According to the Global Mod Hilariousandco Realsolid is not banned in this forum so I am curious as to why he wouldn't announce it himself.


Finally does anyone think this newest venture by Realsolid is legit?


~BCX~









Yes, I remember SolidCoin literally the original scamcoin. It is the one case I know of where someone actually pirated software under the MIT license. https://opensource.org/licenses/MIT, and was subject of a legitimate DMCA takedown notice. Pirating software under the MIT license can be done but it takes a real effort as a scammer. The other case I know, involving pirated FLOSS and DMCA takedowns, was the MPAA pirating a version of Ubuntu, about 9 years ago, and also being the subject of a DMCA takedown notice; however in that case it was GPL code that was the subject of the DMCA takedown.

Edit: At one point I looked into selling SolidCoin short, and there is an old post in BCT where I inquired about the possibility.
820  Alternate cryptocurrencies / Speculation (Altcoins) / Re: [XMR] Monero Speculation on: March 07, 2016, 03:44:06 AM
...

And Monero could hypothetically implement zk-snarks offering both alternatives. Open source projects tend to eat other projects that have flaws (the premine tax). Then again, Zcash seems to have locked in the experts on this tech.

This is a very interesting idea that is worthy of further research.

Edit 1: Multi signature transactions and sidechains are already identified in the Monero Design and Development goals http://https://getmonero.org/design-goals/

Edit 2: If this were to be implemented in Monero it would be in addition to and not in lieu of RingCT since RingCT will be mandatory for Monero transactions. The base coin, Monero, would be using RingCT.

Edit 3: By the way this concept has already been proposed by Shen Noether (with zk-snarks implemented on top of RingCT) and I have had some prior discussion on the subject with him. It should be considered at this point the subject of research, in particular with respect to my edit 2 point above, namely implementing zk-snarks on top of RingCT. RingCT is a must here since it would be needed for multi signature transactions in Monero.
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