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1  Alternate cryptocurrencies / Altcoin Discussion / Re: Which Blockchain, Platform, Ecosystem will be the Most Competitive for Eth 2.0? on: October 23, 2021, 10:16:01 PM
Coming back here

- Polkadot

- Binance Chain

- Binance Smart Chain

- Algorand

- Solana

- Fantom

- Cardano

- Synthetics

- Avalanche

- Terra

- Cosmos

- Polygon


Which ones are the most decentralized that is has lots and lots of nodes on the blockchain? Binance Smart Chain has only 21 Validators/nodes which looks really centralized.
2  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: Best place to get Yield on Stable Coins and other questions? on: October 23, 2021, 01:11:38 PM
Okay I been to the FAQ and it mentions Certik's Shield Insurance called Shentu Shield here:

https://shield.certik.foundation/

Does this insurance protects me on Certik's audit approved de-fi sites?

Is shentu shield decentralized insurance  Huh


Forget it. Most of the hacks I knew about from 2020 and early 2021 when I was really following the defi space more actually had Certik audits done and proudly bore Certik certification. Certik just makes it one step safer, but apparently the guys over there aren't that great as they couldn't see the exploits like the actual hackers could.

But to answer you: shentu shield IS insurance, but you have to buy the coverage. Like any regular insurance. about 0.8% of total covered amount, every 3 weeks.

Okay lets say for example I want to insure $100 of Dai stable coins on De-Fi, the insurance will cost 80 cents that I have to buy this premium and renew the insurance policy every 3 weeks to be covered?

If shentu shield is a decentralized service then I am curious to know how do I make a insurance claim on it if a hack happens  Huh
3  Alternate cryptocurrencies / Mining (Altcoins) / Re: Easiest Altcoin to Mine advice on: October 23, 2021, 12:29:24 PM
Okay what you guys think of Helium HNT?
4  Alternate cryptocurrencies / Altcoin Discussion / Re: Which Stablecoin is the most Trustworthy? on: October 22, 2021, 11:08:55 PM
I have dived into the crypto world since 2017  and, to be honest, have not seen so many worthy projects during this time. I have seen many memecoins / DeFi / etc projects that grew by leaps and bounds but then quickly died. It seems to me that in the coming years, crypto Olympus will be occupied only by those projects that can be used on a daily basis. YAY Games is one of those for me. I think their games in our time will be as useful as possible. I hope you've heard of them? if not, then it's time to google them.

You think Yay games will be the Fortnite, Roblox, Minecraft of Crypto being popular and alive for years like games?

Lets stick to the topic and that is stable coins.



Okay I like to know more info on Algorithmic Stable Coin UST by Terra and compare it to decentralized Dai:

According to DeFi Pulse Maker for Dai is ranked number 2 on the Ethereum blockchain:

https://defipulse.com/

Ethereum is a established blockchain with lots of nodes making it decentralized.

Terra sounds good however how does the Terra blockchain compare to Ethereum blockchain? Is Terra blockchain decentralized with lots of nodes scattered around the world?

Terra is a new blockchain compared to Ethereum and hence its high risk you know what I mean. Last month the Solana blockchain went offline for hours indicating its not truly decentralized. I cant imagine Ethereum going offline for hours you know what I mean.

How many validators or nodes does the terra blockchain has? What if lenders pull their Terra Luna out of the staking pool after all luna is depleted and the demand for UST goes up?

What if demand for both LUNA and UST goes up at the same time or down at the same time then how its algorithm will work then?

Terra has a maxed fixed supply of 1 Billion.

If UST can be exported to other blockchains like Solana then lets say the Terra chain gets hacked, then will my UST still be safe on the Solana chain?


Lastly is Dai truly decentralized because I keep hearing people saying it uses some USDC to back it up? Confused how does a decentralize Dai use a centralized stable coin like USDC to back Dai up Huh How is a smart contract, de-fi protocol be compatible with a centralized asset?

[moderator's note: consecutive posts merged]
5  Alternate cryptocurrencies / Mining (Altcoins) / Re: Easiest Altcoin to Mine advice on: October 22, 2021, 11:03:51 PM
Sorry I mean cheapest to mine a altcoin that is less electricity used as possible of a altcoin in the top 100 rankings.
6  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: New to MetaMask help on: October 22, 2021, 10:49:27 PM
Not any erc20 but only the ones that support polygon chain,

If there is a risk of polygon chain being hacked I believe your tokens will be safe provided they are held in your metamask wallet,

The fees to convert back will be determined by the bridge network,

I don't know which cex support deposit of polygon chain,

Metamask is for dex not just for polygon chain since you can add different network to it,

Token conversion time depends on the network, it can be faster or a little longer.


Okay how do I find out whether a erc20 token can be ported over to the polygon chain?

A bridge network is separate to polygon like a different chain?



you need  to use CEX such as OKEx (okex.com) they support withdrawals of stablecoins using PolyChain and the fees are low.
You can find trading pairs that are allowed to withdraw and you can use any other central platform.
Before doing the withdrawal order, you must add Matic balance to your address.

If there is a risk of polygon chain being hacked I believe your tokens will be safe provided they are held in your metamask wallet,
AFAIK, the last PolyNetwork hacked is something different from PloyChain. (There is a similarity in the names, one of them is a central platform and the second is a 2-Layer on ETH blockchain.



Just to clarify I require Matic in metamask wallet to deposit into it and withdraw from it?

How do I find on coinmarketcap or coingecko which trading pairs on Centralized exchanged support the polygon deposits/withdrawals?

[moderator's note: consecutive posts merged]
7  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: Best place to get Yield on Stable Coins and other questions? on: October 22, 2021, 08:39:13 PM
Coming back here, so the riskiest way to get yield is liquidity mining and yield farming correct?

When I lend my coins/tokens on a centralized service like block fi, Celsius or nexo, do these centralized services use my coins/tokens for liquidity mining or yield farming or do they simply lend out to other users/borrowers on these platforms that they have to put down collateral?

Lastly when comes to staking which is the most risky? Pure Proof of stake of Delegate Proof of Stake?

Apart from Ethereum, which other blockchain has good decentralization like ethereum at cheap fees? For example BSc Binance Smart Chain has cheap fees but not as decentralized as Ethereum.

  
8  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: Best place to get Yield on Stable Coins and other questions? on: October 22, 2021, 05:00:50 PM
I'm not sure anywhere in the defi space will offer you fixed rates on your returns but I'm not too sure how they work - some might.

Sites like https://defipulse.com might provide more information on current interest rates but you should really check the tokens and their credibility before considering investing.

I think decentralised exchanges might be safer that some centralised ones andvice versa so that'll be something you should take on a case by case basis. If you want to forget about your investment though, a dex is probably safer (but both might be at risk of exit scamming if they're not audited).

Centralised exchanges also might be quick to leave users liable too for the exchanges loss - depending on the exchange.

Which De-Fi tokens is know for good credibility?

Okay you know of any good Dex's that have been audited? These Dex's have open-source code right?

Thanks,

From the defipulse website you can see that Aave is the top defi there, perhaps you can do a little reading about it's credibility, and as for dex that has been audited, maybe you should take a look https://cryptopotato.com/only-8-of-all-examined-decentralized-exchanges-are-safe-report/ you will find your answer there.

Okay the results in the report in that link still stands this year as the report was written last year.



I have already tried, Avalance, Polygon, Binance Smart Chain, and Solana Network.
But the best for me is on Solana Network, if you try to explore the Solana network, they got very lot of options for your stable coins, but I can suggest you try Saber, add a liquidity pool and use the LP tokens in Sunny aggregator. Or try also the Orca in Solana network too.

Which you think is better out of orca and saber for Solana?

What are LP tokens in Sunny Aggregator?



So many questions, OP. And please, instead of asking here, just go to CMC or Binance and take their Defi university free course. You'll learn much more. Seriously. I'm not making fun of you, just you'll get more information and more accuracy there.

But also if you really want a good simple start, go to Pancakeswap and then get information from their FAQ. It doesn't get easier than Pancakeswap.

Okay I been to the FAQ and it mentions Certik's Shield Insurance called Shentu Shield here:

https://shield.certik.foundation/

Does this insurance protects me on Certik's audit approved de-fi sites?

Is shentu shield decentralized insurance  Huh


[moderator's note: consecutive posts merged]
9  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: Best place to get Yield on Stable Coins and other questions? on: October 21, 2021, 10:13:57 PM
Bump any advice?
10  Alternate cryptocurrencies / Mining (Altcoins) / Re: Easiest Altcoin to Mine advice on: October 21, 2021, 10:04:18 PM
Go to unmineable.com this is a website with pool that brings coins like shiba inu and others to miners with ease, many other coins that aren't even pow algorithm enabled are present on this website including holo, funfair, decentraland, 1inch and many more

I don't get it, how can you mine POS coins that you mentioned?
11  Bitcoin / Bitcoin Discussion / Re: Bitcoin TapRoot Update? on: October 21, 2021, 02:41:12 PM
Yeah Smart Contracts and Lightning Network will be a game changer to Bitcoin and this can destroy Ethereum Cool except Ethereum 2.0 will be POS while bitcoin is POW.
12  Alternate cryptocurrencies / Altcoin Discussion / Re: Volatile Gwei Gas Fees help! on: October 21, 2021, 02:35:39 PM
The gas prices varies from time to time depending on the amount of transaction been processed at that particular time, I gotta admit it kinda sucks to always watch gas prices before making any transaction, the Internet money shouldn't cost more than $1 per transaction, personally have stopped using or moving eth assets since the gas fees are more expensive than a monthly paycheck over here, instead of always watching eth gas prices before making any transaction while not just move to a better blockchain where you won't have an heart attack when you wanna make a transaction,maybe bsc or near Protocol, although I would recommend Near Protocol cause the gas fees need for transaction on Near blockchain is just $0.01 and it will never go higher than that, stop getting heart attacks when you wanna make a transaction its silly.

Is Near blockchain cheaper than Polygon Blockchain?

How many validators the Near blockchain has and why would a trader use Near over Polygon?
13  Alternate cryptocurrencies / Mining (Altcoins) / Re: Easiest Altcoin to Mine advice on: October 21, 2021, 02:24:16 PM
I am looking for the easiest altcoin to mine that is in the top 100 crypto market cap rankings that requires less electricity as possible.
Mining is there for years and mineable used to be an indicator that a project can survive. It only partially true because many mineable altcoins finished their lives with deaths.

Mining itself is risky because you have to face with tripple risks:
  • Risk of investment in your mining equipments, power bills, maintenance cost.
  • Risk of unknown price changes
  • Risk of coin survival ability
There are few mineable altcoins in top 100 but they are no longer easy to mine. Others are for stake, yield, farm, etc.

My advice for you are
  • Checking with Whattomine.com.
  • Look at those coin age, should be more than 4 years.
  • Next, go back to coinmarketcap or coingecko and check further details of coins that you just filter from Whattomine.

Hello I'm looking to mine a altcoin in within the top 100 rankings that doesn't require ASIC, fast PC or any expensive hardware or if hardware is required then consumes the least electricity. Is there a altcoin for this?
14  Alternate cryptocurrencies / Mining (Altcoins) / Easiest Altcoin to Mine advice on: October 20, 2021, 11:41:56 PM
Hi,

I am looking for the easiest altcoin to mine that is in the top 100 crypto market cap rankings that requires less electricity as possible.

Any suggestions?

 
15  Alternate cryptocurrencies / Altcoin Discussion / Re: Which Stablecoin is the most Trustworthy? on: October 20, 2021, 09:00:30 PM

The other reason people hold tethers because that want stable price to avoid volatility in the crypto market. So a person will sell crypto for tethers for price stability especially before a bear market so its not just used for buying cryptos.

Is tether holding safe government bonds or high risk junk bonds?

What you wrote is obvious, but stable coins also have other very important function.
When you sell cryptocurrencies and exchange them for fiats, in many countries you are obliged to settle each such transaction with the tax office.
Stable coins, despite the fact that they are the equivalent of fiats, are still a cryptocurrency, so transactions made on them do not have to be reported. This must be reported to the tax office only when you exchange from stable coin to fiat.
This is a great help for someone who does a lot of transactions.

Centralised stable coins like tether USDT and USDC and such might be required by the upcoming SEC or FATF new crypto regulations to report all transactions to the tax office. Also KYC/AML regulations might come onto centralized stable coins too.

I heard that tether frozen somebody's usdt wallet, meaning tether is obviously centralized. If a employee in a tether office can do this then the employee can report all transactions to the tax office or face risking more fines.

If that happens then what's the advantages of holding centralized stable coins over fiat currencies then apart from higher yields?



A stable currency is a very important ingredient for the market.  In keeping with the best considerations with criteria such as reserve transparency, volatility, velocity, ownership, Tether still accounts for the absolute majority.  Also, a lot of impressions in usdc, Busd, Tusd Although I fear there will be a big change in the stable direction of the coins in the near future.

All stable coins currently have a hard lock rate.  If the case does not lock, there is a greater chance of compliance.

What is a hard lock rate?



Lets say for example that the auditors/regulators has found that USDT Tether has printed tokens out of thin air that are not backed by the fiat $dollars, from there what will happen to USDT on the basis of this news?:
- Is it possible for a stablecoin to crash to 0?
I think anything can happen


- Will centralised exchanges start delisting USDT in light of this news?

This is very unlikely because USDT is one of the popular coins used and traded by many people, they benefit from major withdrawals so I think this is not. And I think stable coin is one of the important coins to trade in the market. Can't cancel if canceled, it's hard for us to have better similar options.

I agree centralized exchanges make a lot money in stable coin trading pair fees so if centralized exchange is pressured to delist a centralized stable coin or stable coin crashes to 0 then that cex will lose money and go bankrupt and all the trading volume they had will go onto decentralized exchanges.



I don't know about trustworthy because one of the biggest stablecoins we have in the industry is tether and it has a sketchy past which which might drag it into the not trust worthy coins but it still remains to be the biggest and most probably the most popular unless you decide to use tether based on other blockchains like the tron chain. And unfortunately am not so much of a stablecoin person so I have stuck to tether the original  stablecoin.

Using tether USDT on Tron is much cheaper fees but what do you mean when you say unless you decide to use tether on tron blockchain?

[moderator's note: consecutive posts merged]
16  Alternate cryptocurrencies / Altcoin Discussion / Re: Volatile Gwei Gas Fees help! on: October 20, 2021, 02:41:35 PM
....
So I have to pay the gas fees again to re-do for failed transactions?
That would mean you have to send a different transaction with a new tx hash so YES you would need to pay a new tx fee for that.

It's one of the headaches of on-chain transactions over Ethereum and even in BSC.

But BSC is much cheaper and less congested right?

I don't understand how the sender is liable to the miners for failed transactions when the sender wallet allows different fee set speed send services, like slow, medium or fast. If sender is liable for failed transaction fees according to the eth blockchain rules then sender should definitely not be liable for failed transactions sent on normal default or fast fees because how is it the sender's fault  Huh
I wouldn't say BSC is less congested since there are also days when daily transactions surpasses Ethereum.

Yes the fees are cheaper there since they have more control on the gas price with only 21 validating nodes. The validators changes from time to time but the total number doesn't.

It's not the responsibility of the Ethereun miners how much fees you used to send. They also do not set the gas price. You should probably remove from your head the centralized finanvial system where fees are fixed for a while and refunds can be done.

Dayum, just 21 nodes? How is this decentralized?

How many nodes does Polygon & Tron have?



Its like every 10 secs the fees are so volatile according to:

https://ethgasstation.info/index.php?curr=gbp

I sent coins to exchange at 'standard less than 5 mins' fee at 105 Gwei which was recommended at the time on the site above. After like 20 secs later I refreshed that site and now the same fee has gone up to 132 gwei  Shocked

Now I see on the Etherscan global transaction explorer that it will take 11hrs still Pending status for confirmation wth  Angry

When I choose gwei when sending, ok after that I take a few mins to double check deposit address to make sure you know what I mean before I click on the final submit send coins button. During those few mins the gwei fee can change right meaning the recommended fee shown at the site above can now be outdated and too slow now correct if gwei fees gone up during that time meaning instead of 5mins I gotta wait 11hrs now?


Ive been using gasnow.org when checking out gas fees and have integrated some browser extension which is helpful for me to check out if its worth to make out some erc20 transactions or not basing on the gas fees.

I have checked out gasnow and it now turns to https://bitcoin.org/en/ or redirecting which i dont know on what happened but you could also check out on https://etherchain.org/tools/gasnow

which it is just really normal to have those volatile Gwei counts from seconds to seconds which i consider to be typical or default.

Yeah that gasnow site has been shut down. That was the best most accurate site for checking gas fees?



Its like every 10 secs the fees are so volatile according to:

https://ethgasstation.info/index.php?curr=gbp

I sent coins to exchange at 'standard less than 5 mins' fee at 105 Gwei which was recommended at the time on the site above. After like 20 secs later I refreshed that site and now the same fee has gone up to 132 gwei  Shocked


Yeah this really sucks and it happened to me too both on the ethereum chain and on the bitcoin chain. As far as i know you can speed up your transaction, if you have sent it with metamask. Then your transaction will be rebroadcasted again with a higher gas fee. This is not ideal as you have to spend the gas fee twice and there is no guarantee for success but it might be worth a try if that transaction is time critical. There is also a way to remove your transaction from the blockchain, but that is more complicated and you definitely need to follow the guides there step by step.

I thought it was impossible to remove recorded entries from a decentralized public blockchain with lots of nodes. So what do you mean there's a way to remove a transaction from a blockchain  Huh

[moderator's note: consecutive posts merged]
17  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: Best place to get Yield on Stable Coins and other questions? on: October 20, 2021, 02:33:02 PM
I'm not sure anywhere in the defi space will offer you fixed rates on your returns but I'm not too sure how they work - some might.

Sites like https://defipulse.com might provide more information on current interest rates but you should really check the tokens and their credibility before considering investing.

I think decentralised exchanges might be safer that some centralised ones andvice versa so that'll be something you should take on a case by case basis. If you want to forget about your investment though, a dex is probably safer (but both might be at risk of exit scamming if they're not audited).

Centralised exchanges also might be quick to leave users liable too for the exchanges loss - depending on the exchange.

Which De-Fi tokens is know for good credibility?

Okay you know of any good Dex's that have been audited? These Dex's have open-source code right?

Thanks,
18  Alternate cryptocurrencies / Altcoin Discussion / Re: Which Stablecoin is the most Trustworthy? on: October 20, 2021, 02:16:39 PM
https://www.bloomberg.com/news/articles/2021-10-15/tether-bitfinex-to-pay-fines-totaling-42-5-million-cftc-says

All those posts in this thread that favoured USDT tether, what is your stance on tether now?

Can tether print $41 million out of thin air to pay the fine?
There isn't any serious allegation that tether ever printed money out of thin air. The reason why tether had to pay the fine was that instead of keeping money it received from people buying tethers in a bank account, tether used the money it received from the sale of tethers to purchase things such as treasury bills and other safe bonds.

When someone buys tethers from tether, they generally do not intend to simply hold tethers, it is more likely for them to have the intention of using those tethers to purchase bitcoin or other cryptos. So I would expect the price of bitcoin to go up when tether issues large amounts of tethers. This is not unlike how I would anticipate the price of bitcoin to go up when people deposit large amounts of cash into their coinbase accounts, except amounts being deposited into coinbase accounts are not public, while the sale of tethers is public.

The other reason people hold tethers because that want stable price to avoid volatility in the crypto market. So a person will sell crypto for tethers for price stability especially before a bear market so its not just used for buying cryptos.

Is tether holding safe government bonds or high risk junk bonds?
19  Alternate cryptocurrencies / Service Discussion (Altcoins) / Best place to get Yield on Stable Coins and other questions? on: October 19, 2021, 11:16:33 PM
Hi,

Stable coins such as USDC, Dai, GUSD and UST.

I'm looking for APY instead of APR cause interest does not get compounded in APR.

I prefer fixed rate over variable rate.

I prefer flexibility on my stable coins instead of locking them in a set time period.

I like to get the highest Yield and pay the less fees as possible.

If I use a centralized service like block-fi then will block-fi lend my deposit/balance out and if the borrower of my deposit/balancer defaults then will I lose all my money and block-fi will be liable for this loss?

For decentralized services, does this mean I have control of my private keys over my stable coins when lending them out? Also which Protocol in De-Fi is the most Audited and least risky? Are all De-Fi protocols have open-source code?

What is 'Loss of Principal' and 'Rug Pull' means?

If I lend GUSD on its own official Gemini Earn website then is my GUSD protected from any counterparty risks and borrowers defaults?

So in summary for centralized services there's counterparty risks and for decentralized services there's de-fi protocol risk correct? After weighing both which one you recommend I choose?

From all these questions answered what's the best centralized and decentralized sites out there?



20  Alternate cryptocurrencies / Altcoin Discussion / Re: Which Stablecoin is the most Trustworthy? on: October 19, 2021, 09:53:38 PM
According to this link Tether has been fined $41million last week for lying Shocked :

https://www.bloomberg.com/news/articles/2021-10-15/tether-bitfinex-to-pay-fines-totaling-42-5-million-cftc-says

All those posts in this thread that favoured USDT tether, what is your stance on tether now?

Can tether print $41 million out of thin air to pay the fine?

We understand the courts and judges in the legal system are greedy and just want more money via from fines and don't give a f*** about the overall stability of the crypto market Roll Eyes That's the SEC and FATF job to take care of the crypto market.

Paying this fine ends the tether FUD? or the SEC or FATF can open up their own case against tether in the future?
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