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November 23, 2020, 07:47:21 PM *
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1  Bitcoin / Bitcoin Discussion / Re: PayPals Bitcoin is a scam on: November 17, 2020, 06:28:59 AM
After researching it , I think the while "buy Bitcoin on PayPal" is a scam at best , and could be something more sinister at worst. Basically , you cannot withdraw the crypto , which for me means that it isn't crypto at all. But after doing research , I found that you cannot EVEN PAY another person with it - you're simply buying a token that is linked to the Bitcoin price - what is the value of this ?

I believe that this could be an attack on Bitcoin - I discuss this in detail here : https://youtu.be/bApVhoTemGw

To recap :
- You cannot withdraw your Bitcoin
- You cannot Pay anyone ( ironic ) , so it can't even go to another PayPal account
- You dont own the keys



While all these points maybe true there is no doubt that it has increased thr amount of people owning Bitcoin. Just read in another thread that it has reached 85% binance volume in a month. Let's hope they implement these features soon.
2  Bitcoin / Bitcoin Discussion / Re: PayPal Reaches 85% of Binance.US Volume on: November 17, 2020, 06:27:09 AM
PayPal Reaches 85% of Binance.US Volume in First Month

What will happen in next 3-6 months 😱



https://cryptobriefing.com/paypal-reaches-85-binance-us-volume-first-month/

Wow that's something out of the ordinary . Never expected it to reach this high volume so soon.
I wish now they develop method in which the retail buyers own the keys or atleast get covered by insurance in case of some unfortunate event.
3  Alternate cryptocurrencies / Altcoin Discussion / Re: does the stable coin require an underlying? on: November 17, 2020, 06:23:52 AM
Huh
based on my experience in economics when currencies are printed to create a stable price that ensures the underlying and also the right financial circulation
is it like that in cryptocurrency?
If the cryptocurrency uses the underlying, will the cryptocurrency be more stable than other altcoins?
in my opinion, if a cryptocurrency uses the underlying, the cryptocurrency has a fixed value based on the value of the underlying
for example if the underlying of project X uses the real underlying property and the supply keeps changing based on the underlying, will the altcoin be said to be a real asset and can it be legal?

The current crypto market and the purpose for what the stable coins are used for means that yes we do need a fixed underlying asset to make sure that the stable currency is infact stable and is not printed at will.
4  Bitcoin / Bitcoin Discussion / Re: When Bitcoin Must Be Inherited on: November 16, 2020, 08:02:10 AM
Over the past decade, the number of Bitcoin investors and other types of crypto assets has grown tremendously. Based on data by Coinmetrics, there are currently around 12 million Bitcoin millionaires in the world. However, there are those who die every year, without heirs who can access Bitcoin. The amount reaches 4 million Bitcoin (around US $ 40 billion), according to Coincover.
Meanwhile, based on the results of a survey by the Cremation Institute, of 1,150 respondents, 89 percent of them are very worried about losing their crypt assets. However, only 23 percent have a specific plan to pass it on to the closest person, for example to their husband, wife or children.
I think this is a very good idea, and I hope that someday there will be a crypto exchange and a crypto wallet that provides inherited features, so users will be safe and comfortable.
Not here to shill and I don't own it but I think Safe Haven are developing something called Inhereti which solves this very purpose.it's kind of a digital will that you pass on.
Have a look at the details on how it works though as I haven't read it in depth.
5  Alternate cryptocurrencies / Altcoin Discussion / Re: Yet another Defi platform got hacked again on: November 16, 2020, 07:53:45 AM
So lately there's one of DeFi platforms (Akropolis) that has admitted they got hacked (over 2 million in DAI) through a flash loan attack recently.

Quote
“At ~14:36 GMT we noticed a discrepancy in the APYs of our stablecoin pools and identified that ~2.0mn DAI had been drained out of the yCurve and sUSD pools,” the project reported in a statement released the evening of November 12.

[...]

The attacks seemingly come as a surprise for Akropolis, which said the pools had undergone two independent audits. “However, the attack vectors used in the exploit were not identified in either audit,” it said “The essence of the exploit in question is a combination of a re-entrancy attack with dYdX flash loan origination.”
Read the full article -> https://decrypt.co/48081/defi-platform-akropolis-admits-to-being-hacked-for-2-million

Previously there are several DeFi got the flash loan attack as well such as Harvest finance and bZx.
What's your thought about it? Does DeFi are too vulnerable to be attacked?

Wow. Its really weird that projects are not realizing how dangerous flash loans are after what happened to harvest Finance which got attached similar way . Scares people away from yield farming.
6  Alternate cryptocurrencies / Altcoin Discussion / Re: Lebanon to launch digital currency in face of economic and financial turmoil on: November 16, 2020, 07:46:17 AM
Lebanon’s central bank plans to launch a new digital currency in 2021 as part of a broader effort to combat a parallel economic and financial crisis that has engulfed the country.  READ THE COMPLETE DETAILS HERE: https://worldpublicityblog.com/index.php/2020/11/14/lebanon-to-launch-digital-currency-in-face-of-economic-and-financial-turmoil/
I think it doesnt make any difference to whether the money is digital or physical paper as long as it's controlled by the central bank of a country. They are both Fiat and centralised .
7  Alternate cryptocurrencies / Altcoin Discussion / Re: Stay away from Vindax on: November 13, 2020, 08:30:12 AM
I always tell my friends that i never transfer money on exchanges: Vindax, p2pb2b, coinsbit, LA and i think everyone understands 'why ?'. On exchanges that are all bots, i don't need to explain because it's been discussed too much. These exchanges usually offer a much higher fee than exchanges top. Moreover, i also see that Vindax is not clear so people should not trade or deposit money there.
Too many exchanges have been plagued by bots. Some are deployed by the traders and some exchanges Nate famous for wash trading to build up the volumes. Stay away from.these exchanges .
8  Alternate cryptocurrencies / Altcoin Discussion / Re: bitcoin continues the positive trend today, is the altcoin market in trouble? on: November 13, 2020, 08:24:15 AM
Lets hope alts are warming up in the back ground ready to pop as well,  yeah, btc have been on the up trend for the past 1 week now, the good thing about it is it look like a smooth ride to the top, 16k+ and keeps going, i think investors have shift from defi to btc or perhaps institutional investors are pumping money since the announcement of PayPal supporting btc,
but i do think soon enough alts will follow but nobody knows when exactly that will happen.

Even I hope this is the case as well. I believe that after Bitcoin pump consolidates and the price stabilises then the altcoins will continue their bull run. I wish we see 2021 like what we had in 2017.
9  Alternate cryptocurrencies / Altcoin Discussion / Re: UPS AND DOWNS IN BOUNTY ACTIVITIES on: November 13, 2020, 08:22:12 AM
are you sure there are already so many campaigns that worth some time to be spend there?
for what I can see mostly are just a waste of time around 1 every 10 give some tokens, with a very low value (less than 10USD).
or more over it's just a scam bounty or a scam project.
probably newbie will never enter into this world with free distribution of "valuable" token. it's just the evolution of an entire industry.
I will not surprised if new way of rewarding will be proposed in the upcoming years (something more similar to DeFi then ICO itself...)

I am very choosy in picking up.the bounty campaigns that I participate in .I only chose which rewards well and has a good chance of success but after the ico they sometimes decide to postpone the distribution . This infuriates me .

I am still waiting for one of the project , they have muted the group for a long time time and it's been more than 2 weeks now .
10  Alternate cryptocurrencies / Altcoin Discussion / Re: We need more decentralized stablecoins on: November 12, 2020, 06:13:24 AM
Stablecoins should all be decentralized. If they are not decentralized, they better not exist at all. They are just posing unnecessary risks to their users who are mostly clueless of how they work.

If possible, these stablecoins should not even exist at all. They're fiat after all. They do not belong to the world of cryptocurrencies.

I understand the logic in asking for decentalised stable coins as it decrease the risk involved but it also raises the question about who is responsible and governing the decentralized stable coins. For this decentralized governance should be established to managed them in the first place.
11  Alternate cryptocurrencies / Altcoin Discussion / Re: Can Crypto be more valuable than gold? on: November 12, 2020, 06:11:25 AM
I have thought that one key advantage crypto (bitcoin, litecoin, Dash, monero etc.) has over gold is that its supply level is fixed and transparent, but can this or features make crypto more valuable than gold?

I don't think this is something that's gonna happen anytime soon.unless each and every government decides to use digital currency and you decide to call it crypto .
Gold has been there practically since the start of civilization and crypto is 12 years old so it's not a fair comparison.
12  Alternate cryptocurrencies / Altcoin Discussion / Re: Ethereum lol on: November 12, 2020, 06:09:03 AM
Comedy news.

Is this a chainsplit or is this nothing but one of the blockexplorers' nodes went down because they depend on a datacenter similar to Infura to run their nodes?



There was a possible ETH chain split at block 11234873. Etherscan and Blockchair are showing two different chains and data after this block. We’re resolving now but have temporarily closed withdrawals. Funds are #SAFU.

Source https://twitter.com/cz_binance/status/1326456255515250693

I saw that some of the services of infura were affected and I thought it was more of a technical hitch on infura side but never expected a possible split chain , whatever that maybe . Can someone explain me  on what event it may have .
13  Bitcoin / Bitcoin Discussion / Re: Halloween inspired poll –would your Bitcoins get passed on if you suddenly died? on: November 08, 2020, 01:55:10 PM
In my case, I think there is 30-40% certainty that my heirs can access my bitcoi wallets.
This should be with the help of my girlfriend as she know some of my passwords that I am using.
I still not telling her my wallets' keys and seeds, but I know she can use the information I gave her to access my wallets, through that she can help my other heirs to access and get control to my bitcoin wallet.
Not just wallet but also other sites that money is involved.

However, I don't have huge amount of money but it will really be good if they can access the funds that I left due to sudden death.

Whatever amount you have small or large it better to give someone you completely trust the full access to the wallet . If not your girlfriend now give it to your parents or siblings and later change it when you think you wanna share it someone else.
14  Economy / Speculation / Re: BTC Targets for 2020 on: November 08, 2020, 01:52:49 PM
Well we have seen Bitcoin nearly touch $16k last night, with that in mind what do you think is in stock for Bitcoin for the remainder of 2020? Do you think we will see it break past $20k?
Honestly I would be really happy if we consolidate at 16k and close out this year around that price .
We are I would say Midway across the bull run and closing this year on a high would further consolidate the run we will have next year.
15  Bitcoin / Bitcoin Discussion / Re: Big BTC transfer (69,369 BTC) from unknown wallet to unknown on: November 06, 2020, 05:39:26 AM
🚨🚨 69,369 BTC ($955,011,600) transfered from Unknown to Unknown
a minute ago (Via Whales Alert)



I think, this Big BTC transfer is connected with this article. Have a look at this....

"The U.S. Justice Department has seized and is now seeking the forfeiture of thousands of bitcoins tied to the now-defunct Silk Road dark web market, with the holdings valued in excess of $1 billion."

U.S. officials seize 'more than $1 billion in bitcoin' tied to Silk Road: https://www.theblockcrypto.com/linked/83695/us-seizure-silk-road-bitcoins-report

That's what I read across the internet as well. That's a very huge amount of Bitcoin and it's interesting to see what the Fed will.do with it.
By the way only someone in the Fed will do a test transaction with 1 Btc to verify if they are sending to the right address.
16  Bitcoin / Bitcoin Discussion / Re: Has it occurred? Or still in progress on: November 06, 2020, 05:36:30 AM
On the eve of Halloween 31 October 2008 satoshi wrote
"I have been working on a electronic cash system that's fully peer- to -peer ,with no trusted third party."
Can we say that his work has been done or is still a work in progress .
" What has been the development of Bitcoin and improvement since that statement was made till now?
And will Bitcoin (satoshi dream or goal ) be fully accepted in the world as a means of payment?.

If is fair to say that the world has come very far in terms of adopting decentalised currency in the last 12 years but we haven't yet reached the point that Satoshi would have dreamed of. We are still slowly seeing adoption by larger institution and other common people and more and more new companies trying to adopt the decentalised way.
17  Alternate cryptocurrencies / Altcoin Discussion / Re: I guess bounty hunters really kill projects on: November 06, 2020, 05:33:25 AM
If you say that the bounty hunter causes dump, it means that you are not familiar with crypto, I mean you should first look at the volume on the exchange, because if the project has a large volume there will be no dump. so it all depends on market demand and project quality
Absolutely couldn't have put it any better. The only projects which are concerned about price dumping due to hunters are the ones which failed to raise enough money through sales and those which don't have enough liquidity or buyers .
18  Alternate cryptocurrencies / Altcoin Discussion / Re: Beware; Do not Fall for Phishing Sites, Do Not Be a Victim of Scams on: November 05, 2020, 07:52:50 AM
Google is the first line of defense and I feel like they are not doing it proper enough which is the biggest problem. There is still a lot of ads on google for many different websites that has a phishing link instead of the real one, and I agree that when you report that to google they do take it down but between that ad being up until you report and gets taken down, whoever that scammer could have convinced was convinced and this is why I think it shouldn't be accepted to begin with.

I know google makes deals in billions of dollars every year so it is hard to follow every single website and link that they get ads from, but that doesn't change the fact that it shouldn't be checked before accepted, phishing is something serious and millions are lost to it every year, google should be held more responsible for it.

Scammers are too clever these days and even use the Google ads program to advertise potaainga sites above real sites.
Always double check and if possible.bokkmark the sites once
You verify that they are the real ones.
19  Alternate cryptocurrencies / Altcoin Discussion / Re: Deflationary Tokens on: November 05, 2020, 07:49:12 AM
Please kindly share the name of the token, many deflationary tokens I knew are almost dead now due to lack of use case, investors are now smarter to avoid projects that have no real life use cases because in a very short time they will become worthless

A great example is $BNB, a solid project with a great number of supporters. Investing in deflationary tokens can benefit long term investors. Given that all fundamentals in the company's business remains constant, the token price will go up overtime due to regular token burns. Not looking at much the volatility, and looking at the historical data, $BNB has reached all time highs after every token burn.

I feel that binance is one of the few exceptions of the deflationary token system working rather than the norm here . Too many projects are trying to lure in ok investors with the deflationary token mechanics without any base fundamentals.
Burning a token without any fundamentals is burning something which never existed.
20  Alternate cryptocurrencies / Altcoin Discussion / Re: ICO, IEO, IDO, STO which best? on: November 05, 2020, 07:46:13 AM
IEO is the best, this fundraising strategy will last longer than ICO because people/investors are able to put their trusts on top exchanges, since 2018 every IEO projects hosted on binance exchange are all profitable for investors, the fear of scammers is what ruin ICO

While true that the IEO brings a sense of trust to the participants as.the exchanges are expected to do some of validation to make sure that the project is not a scam , it prevents many years from participating in the IEO due to lottery system and need to register and Kyc. I prefer ICO for this reason although I accept the Ico May not be safe for novice.
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