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TRON is an ambitious project dedicated to the establishment of a truly decentralized Internet and its infrastructure. The TRON Protocol, one of the largest blockchain-based operating systems in the world, offers base public blockchain support of high throughput, high scalability, and high availability for all decentralized applications in the TRON ecosystem.
Community Coin is a Proof-of-Stake cybercoin that was distributed free to ~500 people and immediately ground into top gear! Unlike a Proof-of-Work cyber, Community Coin can't be mined. It depends on the community to keep their wallets open to secure the network, and the Proof-of-Stake rewards compensate them for it. The links below will give the specs. Welcome to the Community!
Necessary Disclaimer: no rule breaking intended. No price manipulation intended. I only want to share verifiable facts/links and my analysis. If I am doing anything against the rules please let me know and I will do my best to fix it ASAP. I trade crypto, including LINK, and I am currently short on LINK. This is not financial advice; this is just for my own record and to start a discussion for anyone who might want more transparency around LINK.
I believe there is a lot of misinformation, uncertainty, and unanswered questions about the LINK token, the Chainlink ecosystem, the SmartContract parent company. I also believe that LINK's current price is unjustified based on fundamental factors like usage/business case/current customers/future potential. So I'm raising some points and asking some questions. What is this post? Why should I care? How do I use it? Read or skim it. It's about the LINK token, the Chainlink ecosystem, and the parent company SmartContract. It's about why I believe the price of the LINK token may be currently driven mostly by hype and not backed by standard market fundamentals like usage/economics. Update 9 AUG: reorganizing, rewriting this post and moving supporting data/sources into "appendix" comments below on this post. The previous versions of this post and my comments elsewhere were too emotionally charged and caused more division rather than honest, evidence-based, productive discussion and I sincerely apologize for that. I have now rewritten it and will continue to update it.
Threshold signatures, staking, on-chain SLAs: How real are these, is there a roadmap, how will this benefit users, is there any evidence of users currently *wanting* to use chainlink but needing these features and actively waiting for Chainlink to launch these? Staking: for there to be a valid incentive for users to stake LINK, it has to return around 5% annually because anything substantially under that would have users putting their money elsewhere (https://www.stakingrewards.com/cryptoassets) (not counting speculative capital gains in terms of LINK's price, but price gain per token/coin applies to all other crypto projects as well). Currently, for stakable cryptos, around 30-80% of their total supply is staked, and a good adjusted reward is on the order of 5% as well (some actually negative, some 10%+). The promise of staking incentivises people to buy and hold more LINK tokens (again, many other crypto projects have staking already live). That 5% reward will ultimately have to come from the customers who pay Chainlink oracle nodes to use their services, so it's an extra 5% fee for them. Of course, in the near future, the staking rewards *could* be subsidized by the founders' reserve wallets. Threshold signatures: addressed below in a comment. On-chain SLAs: [TODO] Here's supposedly Chainlink's agile/project planning board. (TODO: verify that it is indeed Chainlink's, and then analyse it) https://www.pivotaltracker.com/n/projects/2129823
I manually traced EVERY single inbound transaction/source of funds for the above 4 (not counting #1 as 10 LINK is negligible). 2 & 3 are 99.99%+ genesis-funded, being ACTIVELY topped up by a genesis wallet, last tx 4 days ago, 500,000 LINK. #4 has been funded 36 times over the past year and a half (that's 36 manual exports and I did them all). They all come from the 0x27158..., 0x2f0acb..., and https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x1f9e26f1c050b5c018ab0e66fcae8e4394eb0165 (another address like the 0x2f0acb that I went through and checked EVERY SINGLE inbound source of funds, and it's also >99.9% genesis-funded - one tx from Binance for 6098 LINK out of a total ~6,560,000 inbound LINK from genesis wallets), and two other addresses linked to Binance (0x1b185c8611d157a67d9a9d5261b0d2bd52c0bb78, 10,000 LINK and 0x039ac18afe298747c51c85e7c8f0d67c327f3883, 1,000,000 LINK) The 0x039ac... address funded the "Chainlink: Aggregator" address with 127,900 LINK, and the 0x1b185... with about ~9,600 LINK). So yes, it's technically possible that someone not related to Chainlink paid for the ETH / USD price feed because some funds do come from Binance. However, they only come from two distinct addresses. Surely for "240+" claimed partnerships, more than TWO would pay to use Chainlink's MOST POPULAR price feed? That is, unless they don't pay directly but to another address and then Chainlink covers this one from their own wallets. I will check if that's in line with Chainlink's whitepaper, but doesn't that throw doubt on the whole model of end-users paying to use oracles/aggregators, even if it's subsidized? I provide you this much detail not to bore you but to show you that I went through BY HAND and checked every single source (detailed sources in Appendix B) of funds for the OFFICIAL, Chainlink-listed "ETH/USD" aggregator that's supposedly sponsored by 10 DeFi partners (Synthetix, LoopSpring, OpenLaw, 1inch, ParaSwap, MCDEX, FuturesSwap, DMM, Aave, The Force Protocol). Yet where are the transactions showing that those 10 partners have EVER paid for this ETH/USD oracle? Perhaps the data is there so what am I missing? This ETH/USD aggregator has transferred out ~76,000 LINK to I guess the data providers in increments of .33 LINK. It has 21 data providers responding. I will begin investigating the data providers themselves soon. And those middle addresses like 0x1f9e26... and 0x2f0acb...? They have transferred out hundreds of thousands if not millions of LINK to exchanges. And that's just ONE price pair aggregator. Chainlink has around 40 of these (albeit this one's one of the more popular ones). SNX / ETH aggregator is funded 100% by genesis-sourced wallets, only 3 inbound transactions: https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0xe23d1142de4e83c08bb048bcab54d50907390828 Some random examples (for later, ignore these for now) *********** https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x039ac18afe298747c51c85e7c8f0d67c327f3883 bought 1,000,000 LINK from Binance in Sept 12 & 15, 2019. (one of the possible funding sources for the ETH / USD aggregator example above) This address got 500,000 LINK from 0x27158... and has distributed them into ~5-10,000 LINK wallets that haven't had any out transactions yet https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x5bcf3edc0bb7119e35f322ba40793b99d4620f1e ************** Another example with an unnamed aggregator-node-like wallet that was only spun up 5 days ago, Aug 5: https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x2cbfd29947f774b8cf338f776915e6fee052f236 It was funded 2,000 LINK SOLELY by the 0x27158... wallet and has so far paid out ~500 LINK in 0.43 LINK amounts to 9 wallets at a time. For example, this is one of the wallets it cashes out to: https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x64fe692be4b42f4ac9d4617ab824e088350c11c2#tokenAnalytics That wallet extremely consistently collects small amounts of LINK since Oct 2019. It must be a data provider because a lot of Chainlink named wallets pay it small amounts of LINK regularly. It has transferred out 20 times. The most recent transfer out: https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0xc8c30fa803833dd1fd6dbcdd91ed0b301eff87cf which then immediately transferred to the named "1inch.exchange" wallet, so I assume this was a "cash-out" transaction. It has cashed out via this address a lot. Granted, it also has transfer-out transactions that haven't (yet) ended up in an exchange wallet, eg https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x88e5353a73f38f25a9611e6083de6f361f9b537b with a current balance of 3000 LINK. This could be a user's exchange wallet, ready to be sold, or could be something else. No way for me to tell as there are no out txs from it.
LINK overall transaction, volume, and tx fees
This is to understand how much $ moves through the LINK ecosystem through: nodes, data providers, reserve wallets, wallets linked to exchanges, others. A typical aggregator node tx (payout?): https://etherscan.io/tx/0xef9e8e6dd94ebe9bbac8866f18c2ea0a07408ced1aa77fa04826043eaa55e772 This is their ETH/USD aggregator paying out 1 LINK to each of 21 addresses. Value of 21 LINK ~= $210. Total eth tx fees: .233 ETH (~$88.5, ~42% of the total tx value. If LINK was $4.2 instead of $10, the tx fees would be 100% of the value of the tx). Transactions like this happen every few minutes, and the payout amounts are most often 0.16, 0.66, 1.0, and 2.0 Link. Chainlink’s node/job listing site, https://market.link, lists 86 nodes, 195 feeds, 801 jobs, ~1,080,000 job runs (I can’t tell if this is over the past 2 months or 1.5 years). Only 20 nodes have over 1000 job runs, and 62 nodes have ZERO runs. Usual job cost is listed as 0.1 link, but the overall payout to the nodes is 10-20 times this. The nodes then cash out usually through a few jump addresses to exchanges. Some quick maths: (being generous and assuming it’s 1mil jobs every 2 months = ~6mil link/year = $60,000,000 revenue a year. This is the most generous estimate towards link’s valuation I’ve found so far. If we ignore the below examples where on multi-node payouts the tx fees are more than the node revenue itself, then it’s almost in line with an over-valued (but real) big tech company. For example, one of the latest CHF/USD job runs paid 0.1 LINK to 9 addresses (data providers?) - total $14.4 payout - and paid 0.065 ETH ($24.5) in fees. That’s a $10.1 LOSS on a $14.4 revenue: https://etherscan.io/tx/0xa6351bab810b6864bfebb0f6e1e3bde3c8856f8aac3ba769dd2e6d1a39c0d23f Linkpool’s (one of the biggest node operators) “ETH-USD CryptoCompare” job costs 0.1 link and has 33 runs in the past 24 hours (once every ~44min), total ~78,000 runs since May 30 2019 (once every ~8min). https://market.link/jobs/64bb0845-c4e1-4681-8853-0b5aa7366101/runs (PS cryptocompare has a free API that does this. Not sure why it costs $1 at current link prices to access an API once)
Top 100 wallets (0.05% of ~186,000 total) hold 83% of tokens. 8 wallets each hold over 1% of total, 58 hold over 0.1%. Of these 58, 9 are named exchange/lending pool wallets. For comparison, for Tether (TUSD), the top 100 wallets (0.006% of ~1,651,000 total) hold 35.9% of the supply. 3 addresses hold over 1% of the supply and 135 hold over 0.1%. Of these 135, at least 15 are named exchange/lending pool wallets. LINK’s market cap is $3.5B (or $10B fully diluted, if we count the foundedev-controlled tokens, which we should as there's nothing preventing them from being moved at a moment's notice). Tether’s is $6.9B. Tether has 10 times more addresses and less distribution inequality. Both LINK and Tether are ERC20 tokens, and even if we temporarily ignore any arguments related to management/roadmap/teams etc, Tether has a clear, currently functional, single use case: keep 1 USDT = $1 USD by printing/burning USDT (and yet as of April 2019, only 74% of Tether's market cap is backed by real funds - https://en.wikipedia.org/wiki/Tether_(cryptocurrency))). Given that Chainlink's market cap is now 50% bigger than Tether's, surely by now there's AT LEAST one clear, currently functional use case for LINK? What is it? Can we *see* it happening on-chain?
Chainlink’s actual deliverable products
"What do I currently get for my money if I buy LINK 1) as an investor and 2) as a tech business/startup thinking of using oracles?” Codebase (Chainlink’s github has around 140-200,000 lines of code (not counting html/css). What else is not counted in this? Town crier? Proprietary code that we don't know about yet? How much CODING has Chainlink done other than what's on github? Current network of oracles - only ~20 active nodes - are there many more than the ones listed on market.link and reputation.link? If so, would be nice to know about these if we're allowed! Documentation - they have what seems like detailed instructions on how to launch and use oracle nodes (and much more, I haven't investigated yet) (TODO this part more - what else do they offer to me as an end consumer, and eg as a tech startup needing oracle services that I can’t code myself?)
Network utilization statistics:
Etherscan.io allows csv export of the first 5000 txs from each day. From Jul 31 to Aug 6 2020, I thus downloaded 30,000 tx from midnight every day to an average of 7:10am (so 24 hour totals are 3.34x these numbers if we assume the same network utilization throughout the day). (Summary of all LINK token activity on the ETH blockchain from 31.07 to 06.08, first 5000 txs of each day (30k total) shown Appendix A comment below this post.) If we GENEROUSLY assume that EVERY SINGLE transaction under 10.0 LINK is ACTUAL chainlink nodes doing ACTUAL work, that’s still under 0.1% of the LINK network’s total volume being used for ACTUAL ecosystem functioning. The rest is speculation, trading, node funding by foundedev wallets, or dumping to exchanges (anything I missed?) Assuming the above, the entire turnover of the actual LINK network is currently (18,422 LINK) * ($10/LINK) * (3.34 as etherscan.io’s data only gives first 5000 tx per day which averages to 7:10am) * (52 wk/year) = USD $31,995,329 turnover a year. Note: the below paragraph is old analysis using traditional stock market Price/Earnings ratios which several users have now pointed out isn't really applicable in crypto. I leave it for the record. Assuming all of that is profit (which it’s not given tx fees at the very least), LINK would need a PE ratio (Price/Earnings) of 100 times to justify its current (undiluted) valuation of $3.5 billion of 300 if you count the other 65% of tokens that haven’t been dumped by the founders/devs yet. For comparison, common PE ratios are 32 (facebook), 29 (google), 37 (uber), 20 (twitter on a good year), 10 (good hedge fund returning 10% annual).
Thoughts on DeFi & yield-farming - [TODO]
Why would exchanges who do their due diligence list LINK, let alone at a leverage? 1) that's their business, they take a cut of every transaction, overhyped or not, 2) they're not safe from listing openly bearish tokens like EIDOS (troll token that incentivized users to make FAKE transactions, response to EOS) https://www.coindesk.com/defi-yield-farming-comp-token-explained The current ANNUAL yield on liquidity/yield farming is something like 2% on STABLE tokens like USDC and TETHER which at least have most of their supply backed by real-world assets. If Chainlink LINK staking is to be successful, they'll have to achieve at LEAST that same 2% at end-state. IF LINK is in bubble territory and drops, that's a lot of years at 2% waiting to recoup losses.
SmartContract Team & Past Projects
Normally I don't like focussing on people because it leads too easily to ad-hominem attacks on personality rather than on technology/numbers as I've done above, but I came across this and didn't like what I saw. Steve Ellis, SmartContract's current CTO, co-founded and worked in "Secure Asset Exchange" from 2014 to 2016. They developed the NXT blockchain, issued 1,000,000,000 NXT tokens (remind you of anything?), NXT was listed end of 2013 and saw 3 quick 500%-1000% pumps and subsequent dumps in early in mid 2014, and then declined to . SecureAE officially shut down in Jan 2016. Then at some point a company called Jelurida acquired the rights to NXT (presumably after SecureAE?), then during the 2017 altcoin craze NXT pumped 300 times to a market cap of $1.8 BILLION and then dumped back down 100 times and now it's a dead project with a market cap of $13 million. https://www.linkedin.com/in/steveellis0606/ https://trade.secureae.com/ https://coinmarketcap.com/currencies/nxt/ https://www.jelurida.com/news/lawsuit-against-apollo-license-violations As an investor or business owner, would you invest/hire a company whose co-founders/CTO's last project was a total flop with a price history chart that's textbook pump-and-dump behaviour? (and in this case, we KNOW the end result - 99% losses for investors) If you're Google/Oracle/SWIFT/Intel, would you partner with them?
Open questions for the Chainlink community and investors:
Network activity: Are there any other currently active chainlink nodes other than those listed on market.link and reputation.link? If so, is there a list of them with usage statistics? Do they use some other token than LINK and thus making simple analytics of the LINK ERC20 token not an accurate representation of Chainlink’s actual activity? If the nodes listed on the two sites above ARE currently the main nodes, then
PR, partnership announcements: Why is the google tweet still pinned to the top of Chainlink’s twitter? Due to the frequently circulated Chainlink promotion material (https://chainlinkecosystem.com/) that lists Google as one of the key partners, this tweet being pinned is potentially misleading as there isn't anything in there to merit calling Google a "collaborator" or "partner" - just that blockchains/oracles *can* use Google's APIs (but so can most software in the world). Is there something else going on with the SmartContract-Google relationship that warrants calling Google a partner that we're simply not aware of yet?
By buying LINK, what backs YOUR money: If you have bought and currently hold LINK tokens, how comfortable are you that the future promise of your investment growing is supported on verifiable business and technological grounds versus pure, parabolic hype? If after reading this post you still are, I kindly ask you to reply and show how even one of the points I provided is either incorrect or not applicable, and I will edit my post and include your feedback in the relevant section as I have already done from other users.
What have I missed? Of course not 100% of what I've said is infallible truth. I am a real human, and I have plenty of biases and blind spots. Even if what I've provided is technically correct, there may be other much more important info that I've missed that eclipses what I've provided here. Ask yourself: if the current hype around LINK is indeed valid and points to a $100/$1000 future LINK price, then Where’s Chainlink’s missing financial/performance/usage evidence to justify LINK’s current valuation of $10+?
For your consideration, I have provided evidence with links that you can follow and verify, and draw your own conclusions. I have made my case as to why I believe the LINK token is currently priced much higher than evidence supports, and I ask you to peer-review my analysis and share your thoughts with me and with the wider LINK/crypto community. Thank you for your time, I realize this is a long post. All questions and feedback welcome, feel free to comment or PM. I won't delete/censoblock (except for personal threats, safety considerations etc). I am a real human but I am not revealing my true identity for obvious privacy/harassment reasons. (If anyone is wondering about my credentials ability to add 2+2 and work with basic spreadsheets: I have previously won a math competition in a USA state, I won an English-speaking country's physics olympiad, my university education is in mathematical physics/optimization engineering, and I worked for a few years in a global manufacturing company doing data analytics, obviously I'm not posting my CV here to verify that but I promise you it's the truth) I’m not looking to spread neither FUD, nor blind faith, nor pure hype, and I want an honest transparent objective discussion. I personally believe more that LINK is overvalued, but my beliefs have evolved and may continue to do so as I research more and understand more about Chainlink, LINK, Ethereum, DeFi, and other related topics, and as I incorporate YOUR feedback. If you think I haven't disclosed something, ask. As always, this is not financial advice and I am not liable for anything that may happen as a result of you reading this!
Update (8/3): Thanks to all the teams who submitted a proposal. We appreciate the work you put in, and we have begun reviewing the submissions. If we have follow-up questions, we will post them as comments on the submission posts. Thank you. *** Submissions will be organized in a collection alongside this post. We welcome the community to leave questions and comments on the proposals. To submit your proposal: Please make a separate post in Ethereum with your submission. Then either tag u/jarins and u/EvanVanNess in a comment (not in the post body), or send us a PM with the link to your post. Once we are notified, we will get it added to the collection. (If your post gets removed by moderator bots, do not resubmit. We will approve it when adding to the collection) While we prefer proposals to be public, if there is information you need to share privately, please send it to [[email protected]](mailto:[email protected]). *** tl;dr: Do you believe your Ethereum scaling technology can handle Reddit's scale? It's time to let the Ethereum community hear about it. Send your demo by July 31, 2020. This is your chance to earn some fame but, to be clear, there is no prize if your solution is chosen or modified to meet Reddit’s needs. Our lawyer made us write this. https://preview.redd.it/q7hhi6lzlp551.png?width=1200&format=png&auto=webp&s=cdb26cbbe59e26f4fc73da5740da1308e2a87579
In conjunction with the Ethereum Foundation, Reddit is inviting Ethereum scaling projects to show the community how your scaling solution can be used to bring Community Points to mainnet. Our goal is to find a solution that will support hundreds of thousands of Community Points users on mainnet today, and can eventually scale to all of Reddit (430 million monthly users). We’ve evaluated some of the most promising scaling solutions, and have learned a few things:
There are plenty of awesome projects that we don't know about yet. We seem to learn about a promising new scaling solution every day.
Most existing scaling solutions focus on the exchange use case, which favors optimizing for transfers. Many of these designs don't take into consideration the costs of obtaining tokens or entering the scaling system, which can be significant. Community Points distributions have cost an order of magnitude more gas than all other operations combined, primarily due to on-chain storage costs associated with onboarding new users.
It's unclear how to determine the best solution. There is a lot of code, a lot of documentation, and a lot of hype out there. But there are very few objective real-world reviews or comparisons of various products/implementations.
We need the Ethereum community's help to figure this out.
Do you have a scaling project that meets the criteria below? If so, share your demo by July 31, 2020. Please note that all demos need to simulate Community Points usage for 100,000 users. We also invite all scaling experts in the Ethereum community to comment on any demos submitted to enable a better understanding of the trade-offs and compromises between different solutions. We will review the demos and plan to share any updates by September. While we don’t expect any novel scaling projects, we hope that you, the Ethereum scaling expert, can show us how to scale Community Points. Demos should include:
A live proof of concept showing hundreds of thousands of transactions
Source code (for on & off-chain components as well tooling used for the PoC). The source code does not have to be shared publicly, but if Reddit decides to use a particular solution it will need to be shared with Reddit at some point
How it works & scales
Cost estimates (on-chain and off-chain)
How to run it
APIs (on chain & off)
Known issues or tradeoffs
Summary of cost & resource information for both on-chain & off-chain components used in the PoC, as well as cost & resource estimates for further scaling. If your PoC is not on mainnet, make note of any mainnet caveats (such as congestion issues).
Scaling. This PoC should scale to the numbers below with minimal costs (both on & off-chain). There should also be a clear path to supporting hundreds of millions of users.
Over a 5 day period, your scaling PoC should be able to handle:
100,000 point claims (minting & distributing points)
75,000 one-off points burning
Decentralization. Solutions should not depend on any single third-party provider.
We prefer solutions that do not depend on specific entities such as Reddit or another provider, and solutions with no single point of control or failure in off-chain components, but recognize there are numerous trade-offs to consider
Usability. Scaling solutions should have a simple end user experience.
Users shouldn't have to maintain any extra state/proofs, regularly monitor activity, keep track of extra keys, or sign anything other than their normal transactions
Transactions complete in a reasonable amount of time (seconds or minutes, not hours or days)
Free to use for end users (no gas fees, or fixed/minimal fees that Reddit can pay on their behalf)
Users should be able to view their balances & transactions via a blockchain explorer-style interface
Exiting is fast & simple
Interoperability. Compatibility with third party apps (wallets/contracts/etc) is necessary.
Scaling solutions should be extensible and allow third parties to build on top of it
APIs should be well documented and stable
Documentation should be clear and complete
Third-party permissionless integrations should be possible & straightforward
Simple is better. Learning an uncommon or proprietary language should not be necessary. Advanced knowledge of mathematics, cryptography, or L2 scaling should not be required. Compatibility with common utilities & toolchains is expected.
Bonus Points: Show us how it works. Do you have an idea for a cool new use case for Community Points? Build it!
Security. Users have full ownership & control of their points.
Balances and transactions cannot be forged, manipulated, or blocked by Reddit or anyone else
Users should own their points and be able to get on-chain ERC20 tokens without permission from anyone else
Points should be recoverable to on-chain ERC20 tokens even if all third-parties involved go offline
A public, third-party review attesting to the soundness of the design should be available
Public, third-party implementation review available or in progress
Compatibility with HSMs & hardware wallets
Minting/distributing tokens is not performed by Reddit directly 
One off point burning, as well as recurring, non-interactive point burning (for subreddit memberships ) should be possible and scalable
Fully open-source solutions are strongly preferred
 In the current implementation, Reddit provides signed data for claims, but does not submit the actual claim transaction for the user (the user does that themselves). Note that smart contracts are considered independent of Reddit provided there is a path to decentralizing control over them.  Subreddit memberships are currently implemented as a contract acting as an ERC777-style operator that can burn points on a monthly basis, but we are open to changing that implementation.
Community Points Overview
To help you get started, this is an overview of how Community Points work today and some stats on how it's used. We are open to changing most implementation details, provided the basic requirements (above) are met.
Usage stats over the past month
Number of Community Points holders: ~17,500 Number of transfers: ~20,000 (reference: reddit.dappradar.com) Number of subreddit memberships: ~800
Token supply is controlled by distribution rounds managed in the Distributions contract and triggered by Reddit. For each round (occurring ~monthly), Reddit submits a proposal for points distribution to a subreddit for approval. Once approved, Reddit issues signed claims for individual users according to the agreed upon points distribution. These claims can be redeemed on-chain. Claims are obtained from Reddit, and submitted to the Distributions contract, which validates the claim and calls the Subreddit Points contract to mint points. https://preview.redd.it/lunpaj18mp551.png?width=1120&format=png&auto=webp&s=da31db1db07cfe4f327692a7398772019b8eb7bd
I first posted my review on the cryptodotcom reddit but they censor everything they don't like, so here's my story again. For the record I did not participate in the ICO. I held MCO since the summer of 2017. This is not FUD and it is highly subjective because it is MY experience. If a mod wants to remove this, please contact me and tell me what part is against the rules so I can modify it. Crypto.com is a great app for buying crypto. But I would not trust them with all my funds after what happened on August the 3rd. Crypto.com was once called Monaco. They had an ICO for a cryptocurrency payments card. 15.7 million coins were sold and the other 15.7 million were hold by crypto.com. You could get a free card with benefits if you locked up 0, 50, 500, 5000 or 50000 MCO on the app. The higher, the better the rewards. It took a while before the first cards arrived and they kept giving wrong eta's until they stopped doing that because it always got delayed. After a while they printed 100 billion of a new coin called CRO it would be used for a whole payment network. MCO holders on the app would get airdropped 5 cro for every mco that they hold, each month for 60 months. After 7 months the airdrops stopped. Cards started shipping in the USA and the airdrops had to stop because of regulatory issues. So mco holders were pretty bumped out about that, but were happy that cards started to ship in other regions than just Singapore. Months passed, there was some advertising for MCO but not that much, finally cards started to ship in Europe and investors thought that this would be the moment for MCO to finally increase in price. But honestly most of the teams attention went to CRO and the new exchange with CRO-trading pairs. MCO holders were getting worried and during an AMA with the CEO of crypto.com Kris M. they asked if there was going to be a tokenswap for MCO with CRO. And he said there will NEVER be a token swap. So good news. There was also an MCO moon stopover on the roadmap so early investors were still hopeful. Months went by, MCO started disappearing from the major exchanges (getting locked up 6 months for the card) so things were looking up. Price also started to go slightly upwards. There was only a 15.7 million supply so after a while, the price would go up (high demand low supply - > basic economics) But after a while the price of MCO was starting to go down. MCO was flowing back on the exchanges. These were some weird events according to some early investors. They started asking questions. Is cdc (short for cryptodotcom) running on a fractional reserve? But they never got an answer. Then it happened. A maintenance for the app and exchange was announced for the 3rd of August. Nothing special, these things have to be done now and then. But a lot of early investors woke up and couldn't believe their eyes. A token swap was almost forced upon them. The MCO token would become useless and you would need CRO to stake for the card. But the problem was the terrible conversion rate. 1 MCO for 27 CRO. And a 20% bonus locked on the exchange for 6 months if you swapped before September(what now they can give free CRO after all???). (end rate 1:33) So what is so bad about this, and I've noticed that this is really hard to understand for some people is this. If you had a market share of 1% in MCO then you now had 1/6000 of that market share in CRO. How did they justify this? They based it on the dollar value of the coins at the last couple of days. Yes the last days when they let MCO die in a ditch and promoted the sh*'t out of CRO. A couple of months ago MCO/CRO would be 100. So yes this was the perfect timing for them. We don't know for sure for how long this was the plan. Did they pumped up the price of CRO and sold locked MCO cheap? There is no proof of that but it all smells fishy. The next day, 4th of August there was once again a AMA with Kris M. The CEO. (something I forgot to mention, the CRO lockup for the same card did a x100. Weird right? When user only got an x32. 500 mco card became a 50000 CRO card. If you had the card already you'd be grandfathered in) Alot of people complained but Kris said that they couldn't give out higher rates like x100 because it would cost them too much money. Yes you read that correctly they couldn't give early investors a higher rate of their 100 billion printed CRO. That would literally cost them nothing. It's only a lost future profit. Small price to pay to keep the early investors happy who made it possible for CRO to be created. So what did they do, they lowered the stake for the cards with /5. 50000 CRO became 10000 etc. Pretty smart move to keep the attention of the x33 swap rate. There's a chance that this was the plan al along. But again this is just speculation. End of story. Alot of things happened that are fishy. And I still hope that there will be a bigger reward for the early investors. But I doubt it. It's a good app for buying crypto but I would not trust them with all of your funds because they can freeze them whenever they want. Cards work fine and I'll keep using one. Customer support is a bit slow but always friendly and helpful. Some people will have the same opinion as me, and others will probably call me a whiny little b*tch. So let just skip that part. It's a review and those are subjective. And this should be allowed in the cryptospace. Have a nice day and keep flashing those beautiful cards in the real world.
Decentr ($DEC) - foundational cross-chain and cross-platform DeFi protocol
Decentr is a protocol designed to make blockchain/DLT mainstream by allowing DeFi applications built on various blockchains to “talk to each other”. Decentr is a 100% secure and decentralised Web 3.0 protocol where users can apply PDV (personal data value) to increase APR on $DEC that users loan out as part of of our DeFi dLoan features, as well as it being applied at PoS when paying for stuff online. Decentr is also building a BAT competitor browser and Chrome/Firefox extension that acts as a gateway to 100% decentralised Web 3.0
Allows DeFi Dapps to access all Decentr’s dFintech features, including dLoan, dPay. Key innovation is that the protocols is based on a user’s ability to leverage the value of their data as exchangeable “currency”.
Decentr is building foundational chain-agnostic protocols that will support “true” 100% DeFi Dapps, a 100% secure and decentralised, user-centric alt economy. DeFi dApps inter-connected by Decentr can talk to each other and share PDV (personal data value) of their users. PDV is best described as a personalized “exchange rate” (in a sense social reputation where more effort leads to more rewards and NOT more capital to more rewards. ) between currencies that users apply at point-of-sale to make the cost of goods and services cheaper online. PDV is applied to the APR users earn on $DEC (native token) that they hold that they loan out as part of the investing pool. PDV will also allow uncollateralized loans on their dLoan platform, and also on platforms like Aave and Compound.
Decentr will implement ZKsync to get super cheap and super fast transactions across the ETH network. It is also working with HoloChain and Tomochain to allow connect their DeFi ecosystem to the Ethereum DeFi ecosystem. Decentr has DEEP TIES and a PARTNERSHIP with Holochain: https://medium.com/@DecentrNet/decentr-holochain-ama-29d662caed03
Decentr is also building a browser and Chrome/Firefox extension - a gateway that “transitions” Web 2.0 into a 100% decentralised Web 3.0 via their suite of decentralised dFintech and dCommunications features. The browser adds a 100% decentralised “user layer” to current blockchain protocols so that applications built on blockchain can actually “talk to each other”. The browser uses encryption all the time and the power of blockchain to keep private keys safe. Browser will offer a more robust and innovative type of blockchain storage and caching that is much faster than VPN or TOR. It will allow surfing .onion addresses as well as the regular ones. >>BAT browser 400m marketcap, DEC marketcap 4m<<
Decentr is researching a hardware application, powered by Decentr software, that would greatly enhance current IoT networks. It’s called a “Smart Chip Node” (SCN) and will adhere to 4G LTE standards (with in-built 5G capability), which means connectivity between devices will match or exceed current speed and connectivity, dramatically improving stability and coverage of standalone devices, such as a laptop or tablet, as well as IoT devices, such as home routers and modems.
Decentr uses Coinbase API to optimise integrated implementation of the user layer and Blockchain as a Service (BaaS) to allow users to leverage cloud-based solutions to build, host and use their own blockchain apps. Tierion’s technological infrastructure, the Chainpoint Proof protocol, will come into play whenever a user adds something in Tierion’s data store. Hyperledger Fabric and R3 Corda private blockchains are used as an immutable transaction database for data transfers, including the following tech: R3 Corda, Hyperledger Fabric, Ansible, Bitbucket Pipelines, AWS, Node.JS, GoLang, Kotlin and CouchDB.
Implements a system of layered security protocols based on a radically-new software architecture that combines Elliptic Curve Cryptography (ECC)4 and Sobol sequencing with a n-dimensional chain as part of AI-enhanced, platform-wide community consensus mechanism — a mechanism that assigns mutually agreed value to data and user security protocol upgrades (further encouraging enhanced data integrity) by deploying a Delegated Proof of Stake (DPoS) protocol.
Bank of England has reached out to Decenr to discuss the potential of a UK CBDC upon hearing about the potential of their tech. Decentr is consistent with their own R&D into a "dGBP" and they requested a top-level document for review >> Decentr created this proposal: https://decentr.net/files/Decentr_Consultancy_Doc_UK_CBDC.pdf
A fee is charged for every transaction using dPay whereby an exchange takes place between money (fiat and digital) and data, and vice versa, either as part of DeFi features or via a dApp built on Decentr. They are launching pilot programmes in the following industries:
Banking/PSP Industry: On Product launch, due to Decentr’s powerful PSP connections (including the worlds #2 PSP by volume), a medium-scale pilot program will be launched, which will seed the network with 150,000 PSP customers in primarily the Spanish/LAC markets, generating revenue from day one.
“Bricks and Mortar” Supermarket/Grocery Industry: Decentr aims to ensure the long-term competitiveness of “bricks and mortar” supermarkets against online-only grocery retailers, such as Amazon, by a) building secure tech that allows supermarkets to digitise every aspect of their supply chains and operational functions, while b) allowing supermarkets to leverage this incredibly valuable data as a liquid asset class. Expected revenue by Year 5: $114Mn per year.
Online Advertising Industry: Decentr’s 100% decentralised platform credits users secure data with payable value, in the form of PDV, for engaging with ads. The Brave browser was launched in 2012 and in 8 years has reached over 12 million monthly active users, accented by as many as 4.3 million daily active users.
TOKEN $DEC AND SALE
Decentr recently complete their token sale on a purchase portal powered by Dolomite where they raised $974,000 in 10 minutes for a total sale hardcap of 1.25M. The $DEC token is actively trading on multiple exchanges including Uniswap and IDEX. Listed for free on IDEX, Hotbit, Hoo, Coinw, Tidex, BKex. Listed on CoinGecko and Coinmarketcap. Listed on Delta and Blockfolio apps. ➡️ Circulating supply: 61m $DEC. ➡️ Release schedule and token distribution LINK -> NO RELEASE UNTIL 2021.
A tradeable unit of value that is both internal and external to the Decentr platform.A unit of conversion between fiat entering and exiting the Decentr ecosystem.A way to capture the value of user data and combines the activity of every participant of the platform performing payment (dPay), or lending and borrowing (dLend), i.e a way to peg PDV to tangible/actionable value.Method of payment in the Decentr ecosystem.A method to internally underwrite the “Deconomy.
Quick Noob Guide on the basics of Investing, and the common mistakes
These are things people should know, but they never teach you in school. First off, when it comes to investing there isn't a one size fits all formula. That's because everyone has different goals. So everyone is gonna need different strategies. There's gonna be people trading for income, some investing mid to long term, others with specific retirement goals, or even more specific goals of buying a house or putting their kids through college. And that will also change how much risk you should take with your portfolio. How much crypto you want to invest. How deep you want to go into unproven alt-coins. HODLing: There is a grey area between day trading and HODLing forever. It doesn't have to be an absolute one or the other. And yea trading is definitely not for everybody, especially in crypto. There's also a few misconception I need to address about HODLing. Holding long term isn't an automatic guarantee. Nobody knows what the price will be when you have to sell when you lose your job and all you have is crypto. You're also holding on to wealth that isn't generating money, dividend, or interest, until you sell it. Time is money. This is something we tell gold investors, but it applies to crypto investors. But the hope is that you make up for it in big returns when you sell it, and there's big upside potential in the long run, so there are definitely some good reasons to HODL as part of a balanced and reasonable strategy. Buying and selling is not an all or nothing: It seems that a lot of people forget that. "Should I sell all my LINK now, or is it gonna go back up?". You can cash in some gains now, and keep a portion invested. Just like you don't have to time a dip. You can buy a little bit at a time. That's what people usually mean when they mention DCA. Same when you sell. You didn't have to sell all your LINK when it hit $9. You could have sold a small percentage, then sold some more every time it goes up by say 30%. You're gonna lose money at some point. And you'll probably be taking big risks since you're putting your money into crypto. You can't make money without risking money or spending money. But keep in mind you haven't really gained anything or lost anything, until you realize those gains/losses by selling that crypto for something else. But the crypto market is wild. So chances are you're gonna see one of your coin dip at some point. Don't make emotional decisions. Your decisions should only be made based on a pre-determined plan. For example, "if the price of Bitcoin were to dip to such or such level, this is what I would do". Don't make decisions on panic or FOMO. Leave emotions out. Just like you don't buy coins based on a glowing review on here by u/NanoForeverFastestcrypto, you do your own research from multiple unbiased sources. When it comes to investing, you are dealing with a future that nobody knows. Nobody has a crystal ball. And it's definitely a lot harder to predict all the small short term trends, and dealing with smaller windows of time, than dealing with long term general trends with much bigger windows and bigger room for error. But either way, don't presume you're sure what's gonna happen. The world of investing is filled with surprises. Part of it is because trading is done by people. And people can't help but trade with their emotions. The second you think you have the market figured out, that's when you're most likely to get burned. Instead, have an escape plan in case you're wrong. And use strategies where you don't have to rely so much on being exactly right.
The world of DeFi is exploding but is it all it’s made out to be?
DeFi (decentralised finance) is most certainly the buzz in the crypto world this minute. It’s bringing similar feelings which was the 2017/18 ICO phase, where a mammoth of new projects begun to explode onto the scene, each with their own promise of new innovation and use case. Hindsight has shown us that most of those projects have ultimately failed, or worse, were outright scams that took advantage of not so wise investors looking to make a buck. Obviously, not all projects fit that description, with many teams still around today working on and delivering their individual visions. Crypto is, after all, still a big experiment of new technology.
Enter DeFi: Serum
DeFi has exploded into the limelight over the last few months, with some tokens appreciating hundreds of percent in price. It appears to be the catalyst that has driven a huge market shift in the crypto world, and for those who’ve been around a number of years, this is a welcome change. In this piece, I’m going to examine a particular project called Serum.
Serum is the world’s first completely decentralized derivatives exchange with trustless cross-chain trading brought to you by Project Serum.
The Serum Project is aiming to create both a decentralised exchange and a cross-chain swapping mechanism. In this article, I’m going to focus solely on the cross-chain swapping aspect of Serum. Although the Serum whitepaper is quite short and lacking in detail, it is useful to derive some understanding of how the cross-chain swapping protocol should work. Throughout this review, I will use it to describe how the imagined protocol works.
Let's assume Alice wants to trade some BTC for ETH and Bob wants to trade some ETH for BTC using Serum. These two users are matched and agree on a price using an on-chain order book on the Solana blockchain (whitepaper provides no practical details on how to do this). Once these users are matched, Bob must send the ETH he wants to trade to an Ethereum smart contract, plus some amount of ETH ~200 USD worth (see section 4 below) to the smart contract as collateral. Alice will also need to send some collateral to the smart contract. Once this initial setup process is complete Alice then has to send her BTC to Bob’s BTC address and if Bob receives the BTC from Alice he can then release his ETH from the smart contract sending it to Alice’s ETH address. Upon completion of this both Alice and Bob are refunded their ETH collateral. So what happens if something goes wrong? For example, say Alice never sends BTC to Bob, after some period of time Bob can initiate a dispute. When the dispute begins both Alice and Bob present a portion of the Bitcoin blockchain information to the smart contract (see section 3). The smart contract then decides whether or not Alice did send BTC to Bob. If she hasn’t then the smart contract returns Bob's ETH and collateral to Bob and also takes Alice’s ETH collateral and gives that to Bob. The same occurs in reverse if Alice sends BTC but Bob never approves the transfer of ETH from the smart contract. This scheme seems pretty simple, there’s no oracles and no centralised parties, however, it has a number of disadvantages.
1. User-Provided Collateral Is Bad for User Experience
Each time a user conducts a swap they must reserve some percentage or fixed amount to cover the collateral for the swap. This collateral amount needs to be present to prevent griefing attacks where users initiate swaps with no intention of ever following through and sending funds to the alternate participant. However, this creates a poor user experience as both Alice and Bob need to have at least the value of the dispute fee committed to the contract in collateral before they conduct a swap. This is totally foreign from the normal exchange experience in which you only require a single coin and a single transaction to begin trading. For example, if using Serum to trade Bitcoin you would need to hold Bitcoin and ~200$ of Ethereum and also interact with the Ethereum chain before any swap occurs. This adds unnecessary complexity and confusion, especially for newcomers to the crypto space.
2. ETH Must Always Be on One Side of the Swap
Although the Serum method of cross-chain swapping could occur on any blockchain with smart contracts, the Serum whitepaper makes it clear the Serum arbitration contract is going to be deployed on the Ethereum blockchain. This means one party must always be locking the full value of the trade in ETH using an Ethereum smart contract. This makes it impossible, for example, to do a single step trade between Bitcoin and Monero since the swap would need to be from Bitcoin to ETH first and then from ETH to Monero. This is comparable to other proposed cross-chain swap systems like Thorchain and Blockswap, however since those networks use AMM’s (automated market makers)and decentralized vaults to take custody of funds, the user needs not to interact with the intermediary chain at all. Instead in Serum, the user wanting to swap Bitcoin to Monero will need to do the following steps:
Send Ethereum collateral to the Serum arbitration contract
Send Bitcoin to the user they are swapping with.
Send Ethereum back to Serum arbitration contract
Send Ethereum out of Serum arbitration contract
Receive back Ethereum collateral
It might be possible to remove or simplify step 4, depending on how the smart contract is built, however, this means a swap from BTC to Monero would require 2 Ethereum and 1 Bitcoin transaction in the best-case scenario. Compared with the experience of other cross-chain swapping mechanisms, which only require the user to send a single transaction to swap between two assets, this is very poor user experience.
3. Proving Transactions on Arbitrary Chains to a Smart Contract Is Not Trivial
Perhaps the most central part of the Serum cross-chain swapping mechanism is left completely unexplored in the Serum whitepaper with only a brief explanation given.
“[The] Smart Contract is programmed to parse whether a proposed BTC blockchain is valid; it can then check which of Alice and Bob send the longer valid blockchain, and settle in their favor”
This is not a trivial problem, and it is unclear how this actually works from the explanation given in the Serum whitepaper. What actually needs to be presented to the smart contract to prove a Bitcoin transaction? Typically when talking about SPV the smart contract would need the block headers of all previous blocks and a merkle inclusion proof. This is far too heavy to submit in a dispute. Instead, Serum could use NIPoPoW, however, these proofs only work on chains with fixed difficulty and are still probably prohibitively too large (~100KB) to be submitted as a proof to a contract. Other solutions like Flyclient are more versatile, but proof sizes are much larger and have failed to see much real-world adoption. Without explaining how they actually plan to do this validation of Bitcoin transactions, users are left in the dark about how secure their solution actually is.
4. High Dispute Fees Force Large Collateral on Small Trades
Although disputes should almost never happen because of the incentives and punishments designed into the Serum protocol, the way they are designed has negative impacts on the use of the network. Although the Serum whitepaper does not say how the dispute mechanism works, they do say that it will cost about ~100 USD in GAS to dispute a swap. Note: keep in mind that the Serum paper was published in July 2020 when the gas price was about 50 Gwei, as Ethereum use has picked up over the past month we have seen average GAS prices as high as 250 Gwei, with the average price right now about 120 Gwei. This means that at the height of GAS prices it could have cost a user ~500 USD to dispute a swap. This means for the network to ensure losing cross-chain swaps aren’t made each user must deploy at least $200 in collateral on each side. It may be possible to lower this to collateral if we assume the attacker is not financially motivated, however, there is a lower bound in which ransom attacks become possible on low-value trades. Further and perhaps more damagingly, this means in a trade of any size the user needs to have at least 300 USD in ETH laying around. 100 USD in ETH for the required collateral and 200 USD if they need to challenge the transaction. This further adds to the poor user experience when using Serum for cross-chain swapping.
5. Swaps Are Not Set and Forget
Instead of being able to send a transaction and receive funds on the blockchain you are swapping to, the process is highly interactive. In the case where I am swapping ETH for Bitcoin, the following occurs:
Send a transaction to the Serum arbitration contract with my collateral.
Send a transaction to the Serum arbitration contract with the funds to be traded.
Wait until the Bitcoin transaction sent to my address has an acceptable amount of confirmations (up to 60 mins, depending on network congestion).
If the Bitcoin transaction is never received then I need to wait for a timeout to occur before I can participate in the dispute process.
Send a transaction to the Serum arbitration contract unlocking my funds and sending them to the participant.
And on the Bitcoin side (assuming the seller is ready), the following must take place:
Send my Ethereum collateral to the smart contract.
Send the Bitcoin.
Wait until the Seller has accepted that Bitcoin.
If the Seller never accepts the Bitcoin I sent to him then I need to wait on line for the dispute process.
Wait to receive my ETH + Collateral back.
This presents a strange user experience where the seller or seller’s wallet must be left online during this whole process and be ready to sign a new transaction if they need to dispute transactions or unlock funds from a smart contract. This is different from the typical exchange or swapping scenario in which, once your funds are sent you can be assured you will receive the amount you expected in your swap back to you, without any of your wallets needing to remain online.
6. The Serum Token Seems to Lack a Use Case
The cross-chain swapping protocol Serum describes in its whitepaper could easily be forked and launched on the Ethereum blockchain without having any need for the Serum token. It seems that the Serum token will be used in some capacity when placing orders on the Solana based blockchain, however, the order book could just as easily be placed off with traditional rate-limiting schemes. There is some brief mention of future governance abilities for token holders, however, as a common theme in their whitepaper, details are scarce:
Serum is anticipated to include a limited governance model based on the SRM token. While most of the Serum ecosystem will be immutable, some parameters without large security risks (e.g. future fees) may be modified via a governance vote of SRM tokens.
Until satisfactory answers are given to these questions I would be looking at other projects who are attempting to build platforms for cross-chain swaps. As previously mentioned, Thorchain & Blockswap show some promise in design, whilst there are some others competing in this space too, such as Incognito and RenVM. However, this area is still extremely immature so plenty of testing and time is required before we can call any of these projects a success. If you’ve got any feedback or thoughts about Serum, cross-chain swapping or DeFi in general, please don’t be shy in leaving a comment.
How to Recover Money Lost to Online Investment and Scam
Have you lost money to binary options? You can recover money you lost to binary options. Have you lost money to forex? You can recover money lost to forex. Have you lost money to bitcoin or did you lose you bitcoin or bitcoin wallet recovery phrase? You can recover lost bitcoin, money lost to bitcoin, and bitcoin recovery phrase. Have you lost money to cryptocurrency? You can recover lost cryptocurrency and money lost to cryptocurrency. Recover money lost to online investment, online scam and more. Recover all your lost funds / money by hiring a verified recovery expert. This article examine some common ways people have been losing money, especially online and with the use of technology, and how to recover all the money lost through all these different means. Let’s dive into each of them; How to Recover Money Lost to Binary Options Binary options trading hinges on a simple question; will the underlying asset be above or below a certain price at a specified time? 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Even cryptocurrencies such as Bitcoin, Ethereum, and Litecoin are on the menu. The nature of binary options makes it easy for people to lose money trading binary options! But the good news is that you can recover money lost to binary options. How to Recover Money Lost to Forex Forex is a short form of foreign currency and exchange. Foreign exchange is the process of changing one currency into another currency for a variety of reasons. It is mostly for commercial, trade, or tourism. According to a recent triennial report from the BIS (a global bank for national central banks), the average was more than $5.1 trillion in daily forex trading volume. The foreign exchange market is where currencies are traded. Currencies are important to most people around the world, whether they realize it or not, because currencies need to be exchanged in order to conduct foreign trade and business. If you are living in the U.S. and want to buy cheese from France, either you or the company that you buy the cheese from has to pay the French for the cheese in euros (EUR). This means that the U.S. importer would have to exchange the equivalent value of U.S. dollars (USD) into euros. The same goes for traveling. A French tourist in Egypt can't pay in euros to see the pyramids because it's not the locally accepted currency. As such, the tourist has to exchange the euros for the local currency, in this case the Egyptian pound, at the current exchange rate. The fact that forex is volatile in nature makes it easy to lose money trading forex. But you can hire a verified recovery expert to get your lost funds back. How to Recover Money Lost to Bitcoin Bitcoin (₿) is a cryptocurrency was invented in 2008 by an unknown person or group of people using the name Satoshi Nakamoto and started in 2009 when its implementation was released as open-source software. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Bitcoin transactions are verified by network nodes through cryptography and are recorded in a public distributed ledger known as blockchain. Bitcoins are created as a reward for a process known as bitcoin mining. They can be exchanged for other currencies, products, and services. Research carried in Cambridge estimates that in 2017, there were between 3 to 6 million people using a cryptocurrency wallet, especially bitcoin. Due to the fact that bitcoin is not well regulated, it is easy to lose bitcoin or lose money to bitcoin. How to Recover Money Lost to Cryptocurrency A cryptocurrency is a digital or virtual currency that is usually secured by cryptography, which makes it nearly impossible to counterfeit or double-spend. Many cryptocurrencies are decentralized networks based on blockchain technology, which is a distributed ledger enforced by a disparate network of computers. A defining feature of cryptocurrencies is that they are generally not issued by any central authority, rendering them theoretically immune to government interference or manipulation. Cryptocurrencies are systems that allow for the secure payments online which are denominated in terms of virtual "tokens," which are represented by ledger entries internal to the system. "Crypto" refers to the various encryption algorithms and cryptographic techniques that safeguard these entries, such as elliptical curve encryption, public-private key pairs, and hashing functions. Central to the appeal and functionality of Bitcoin and other cryptocurrencies is blockchain technology, which is used to keep an online ledger of all the transactions that have ever been conducted, thus providing a data structure for this ledger that is quite secure and is shared and agreed upon by the entire network of individual node, or computer maintaining a copy of the ledger. Every new block generated must be verified by each node before being confirmed, making it almost impossible to forge transaction histories. How to Recover Money Lost to Online Investment Incase you have also lost money to other forms of online investment, or casino (gambling), you have nothing to worry about. You can easily get back all your lost funds by hiring one of the verified recovery experts to help you get your money back. 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A new whitepaper analysing the performance and scalability of the Streamr pub/sub messaging Network is now available. Take a look at some of the fascinating key results in this introductory blog
Streamr Network: Performance and Scalability Whitepaper
https://preview.redd.it/bstqyn43x4j51.png?width=2600&format=png&auto=webp&s=81683ca6303ab84ab898c096345464111d674ee5 The Corea milestone of the Streamr Network went live in late 2019. Since then a few people in the team have been working on an academic whitepaper to describe its design principles, position it with respect to prior art, and prove certain properties it has. The paper is now ready, and it has been submitted to the IEEE Access journal for peer review. It is also now published on the new Papers section on the project website. In this blog, I’ll introduce the paper and explain its key results. All the figures presented in this post are from the paper. The reasons for doing this research and writing this paper were simple: many prospective users of the Network, especially more serious ones such as enterprises, ask questions like ‘how does it scale?’, ‘why does it scale?’, ‘what is the latency in the network?’, and ‘how much bandwidth is consumed?’. While some answers could be provided before, the Network in its currently deployed form is still small-scale and can’t really show a track record of scalability for example, so there was clearly a need to produce some in-depth material about the structure of the Network and its performance at large, global scale. The paper answers these questions. Another reason is that decentralized peer-to-peer networks have experienced a new renaissance due to the rise in blockchain networks. Peer-to-peer pub/sub networks were a hot research topic in the early 2000s, but not many real-world implementations were ever created. Today, most blockchain networks use methods from that era under the hood to disseminate block headers, transactions, and other events important for them to function. Other megatrends like IoT and social media are also creating demand for new kinds of scalable message transport layers.
The latency vs. bandwidth tradeoff
The current Streamr Network uses regular random graphs as stream topologies. ‘Regular’ here means that nodes connect to a fixed number of other nodes that publish or subscribe to the same stream, and ‘random’ means that those nodes are selected randomly. Random connections can of course mean that absurd routes get formed occasionally, for example a data point might travel from Germany to France via the US. But random graphs have been studied extensively in the academic literature, and their properties are not nearly as bad as the above example sounds — such graphs are actually quite good! Data always takes multiple routes in the network, and only the fastest route counts. The less-than-optimal routes are there for redundancy, and redundancy is good, because it improves security and churn tolerance. There is an important parameter called node degree, which is the fixed number of nodes to which each node in a topology connects. A higher node degree means more duplication and thus more bandwidth consumption for each node, but it also means that fast routes are more likely to form. It’s a tradeoff; better latency can be traded for worse bandwidth consumption. In the following section, we’ll go deeper into analyzing this relationship.
Network diameter scales logarithmically
One useful metric to estimate the behavior of latency is the network diameter, which is the number of hops on the shortest path between the most distant pair of nodes in the network (i.e. the “longest shortest path”. The below plot shows how the network diameter behaves depending on node degree and number of nodes. Network diameter We can see that the network diameter increases logarithmically (very slowly), and a higher node degree ‘flattens the curve’. This is a property of random regular graphs, and this is very good — growing from 10,000 nodes to 100,000 nodes only increases the diameter by a few hops! To analyse the effect of the node degree further, we can plot the maximum network diameter using various node degrees: Network diameter in network of 100 000 nodes We can see that there are diminishing returns for increasing the node degree. On the other hand, the penalty (number of duplicates, i.e. bandwidth consumption), increases linearly with node degree: Number of duplicates received by the non-publisher nodes In the Streamr Network, each stream forms its own separate overlay network and can even have a custom node degree. This allows the owner of the stream to configure their preferred latency/bandwidth balance (imagine such a slider control in the Streamr Core UI). However, finding a good default value is important. From this analysis, we can conclude that:
The logarithmic behavior of network diameter leads us to hope that latency might behave logarithmically too, but since the number of hops is not the same as latency (in milliseconds), the scalability needs to be confirmed in the real world (see next section).
A node degree of 4 yields good latency/bandwidth balance, and we have selected this as the default value in the Streamr Network. This value is also used in all the real-world experiments described in the next section.
It’s worth noting that in such a network, the bandwidth requirement for publishers is determined by the node degree and not the number of subscribers. With a node degree 4 and a million subscribers, the publisher only uploads 4 copies of a data point, and the million subscribing nodes share the work of distributing the message among themselves. In contrast, a centralized data broker would need to push out a million copies.
Latency scales logarithmically
To see if actual latency scales logarithmically in real-world conditions, we ran large numbers of nodes in 16 different Amazon AWS data centers around the world. We ran experiments with network sizes between 32 to 2048 nodes. Each node published messages to the network, and we measured how long it took for the other nodes to get the message. The experiment was repeated 10 times for each network size. The below image displays one of the key results of the paper. It shows a CDF (cumulative distribution function) of the measured latencies across all experiments. The y-axis runs from 0 to 1, i.e. 0% to 100%. CDF of message propagation delay From this graph we can easily read things like: in a 32 nodes network (blue line), 50% of message deliveries happened within 150 ms globally, and all messages were delivered in around 250 ms. In the largest network of 2048 nodes (pink line), 99% of deliveries happened within 362 ms globally. To put these results in context, PubNub, a centralized message brokering service, promises to deliver messages within 250 ms — and that’s a centralized service! Decentralization comes with unquestionable benefits (no vendor lock-in, no trust required, network effects, etc.), but if such protocols are inferior in terms of performance or cost, they won’t get adopted. It’s pretty safe to say that the Streamr Network is on par with centralized services even when it comes to latency, which is usually the Achilles’ heel of P2P networks (think of how slow blockchains are!). And the Network will only get better with time. Then we tackled the big question: does the latency behave logarithmically? Mean message propagation delay in Amazon experiments Above, the thick line is the average latency for each network size. From the graph, we can see that the latency grows logarithmically as the network size increases, which means excellent scalability. The shaded area shows the difference between the best and worst average latencies in each repeat. Here we can see the element of chance at play; due to the randomness in which nodes become neighbours, some topologies are faster than others. Given enough repeats, some near-optimal topologies can be found. The difference between average topologies and the best topologies gives us a glimpse of how much room for optimisation there is, i.e. with a smarter-than-random topology construction, how much improvement is possible (while still staying in the realm of regular graphs)? Out of the observed topologies, the difference between the average and the best observed topology is between 5–13%, so not that much. Other subclasses of graphs, such as irregular graphs, trees, and so on, can of course unlock more room for improvement, but they are different beasts and come with their own disadvantages too. It’s also worth asking: how much worse is the measured latency compared to the fastest possible latency, i.e. that of a direct connection? While having direct connections between a publisher and subscribers is definitely not scalable, secure, or often even feasible due to firewalls, NATs and such, it’s still worth asking what the latency penalty of peer-to-peer is. Relative delay penalty in Amazon experiments As you can see, this plot has the same shape as the previous one, but the y-axis is different. Here, we are showing the relative delay penalty (RDP). It’s the latency in the peer-to-peer network (shown in the previous plot), divided by the latency of a direct connection measured with the ping tool. So a direct connection equals an RDP value of 1, and the measured RDP in the peer-to-peer network is roughly between 2 and 3 in the observed topologies. It increases logarithmically with network size, just like absolute latency. Again, given that latency is the Achilles’ heel of decentralized systems, that’s not bad at all. It shows that such a network delivers acceptable performance for the vast majority of use cases, only excluding the most latency-sensitive ones, such as online gaming or arbitrage trading. For most other use cases, it doesn’t matter whether it takes 25 or 75 milliseconds to deliver a data point.
Latency is predictable
It’s useful for a messaging system to have consistent and predictable latency. Imagine for example a smart traffic system, where cars can alert each other about dangers on the road. It would be pretty bad if, even minutes after publishing it, some cars still haven’t received the warning. However, such delays easily occur in peer-to-peer networks. Everyone in the crypto space has seen first-hand how plenty of Bitcoin or Ethereum nodes lag even minutes behind the latest chain state. So we wanted to see whether it would be possible to estimate the latencies in the peer-to-peer network if the topology and the latencies between connected pairs of nodes are known. We applied Dijkstra’s algorithm to compute estimates for average latencies from the input topology data, and compared the estimates to the actual measured average latencies: Mean message propagation delay in Amazon experiments We can see that, at least in these experiments, the estimates seemed to provide a lower bound for the actual values, and the average estimation error was 3.5%. The measured value is higher than the estimated one because the estimation only considers network delays, while in reality there is also a little bit of a processing delay at each node.
The research has shown that the Streamr Network can be expected to deliver messages in roughly 150–350 milliseconds worldwide, even at a large scale with thousands of nodes subscribing to a stream. This is on par with centralized message brokers today, showing that the decentralized and peer-to-peer approach is a viable alternative for all but the most latency-sensitive applications. It’s thrilling to think that by accepting a latency only 2–3 times longer than the latency of an unscalable and insecure direct connecion, applications can interconnect over an open fabric with global scalability, no single point of failure, no vendor lock-in, and no need to trust anyone — all that becomes available out of the box. In the real-time data space, there are plenty of other aspects to explore, which we didn’t cover in this paper. For example, we did not measure throughput characteristics of network topologies. Different streams are independent, so clearly there’s scalability in the number of streams, and heavy streams can be partitioned, allowing each stream to scale too. Throughput is mainly limited, therefore, by the hardware and network connection used by the network nodes involved in a topology. Measuring the maximum throughput would basically be measuring the hardware as well as the performance of our implemented code. While interesting, this is not a high priority research target at this point in time. And thanks to the redundancy in the network, individual slow nodes do not slow down the whole topology; the data will arrive via faster nodes instead. Also out of scope for this paper is analysing the costs of running such a network, including the OPEX for publishers and node operators. This is a topic of ongoing research, which we’re currently doing as part of designing the token incentive mechanisms of the Streamr Network, due to be implemented in a later milestone. I hope that this blog has provided some insight into the fascinating results the team uncovered during this research. For a more in-depth look at the context of this work, and more detail about the research, we invite you to read the full paper. If you have an interest in network performance and scalability from a developer or enterprise perspective, we will be hosting a talk about this research in the coming weeks, so keep an eye out for more details on the Streamr social media channels. In the meantime, feedback and comments are welcome. Please add a comment to this Reddit thread or email [[email protected]](mailto:[email protected]). Originally published by. Henri atblog.streamr.networkon August 24, 2020.
PSA: How to use crypto to sell/buy PMs on r/PMsForSale
TL;DR 1: this is not an investment recommendation. This is not an endorsement of any crypto coin, token, or service. This post (which is a bit longish) describes how to use crypto as another payment mechanism. It would just add another tool to your PM trading toolbox. TL;DR 2: This is not an exhaustive review – it’s a simplified how-to. Calling me out on certain minute aspects is useless. However, if I made a mistake, or omitted something important PLEAESE correct me. TL;DR 3: I’ll describe everything in chapters, so as you go down, if you feel this is irrelevant to you, you can stop without spending too much time reading it all.
Chapter 1: Why use crypto
You control the entire transaction, end to end. You do not need a third party (Like PayPal or Google) telling you what you’re allowed to sell, and for how much. You do not need to resort to subterfuge (“use Friends & Family, and make sure to leave no notes!”).
Crypto transactions add a level of privacy (depending on how you use them).
Transactions are secure (read more about blockchain technology), and usually only involve you sharing your crypto address with your counterpart.
Transactions are irreversible – good if you’re an established seller who’s afraid of chargebacks by scammers.
Yet transactions can still be proven – they’re out there on the blockchain, available for all to see.
Most of the time, transactions are fast (depending on network traffic and amount of gas paid).
Chapter 2: Types of crypto
I’m not going to go into technicalities, and definitely not recommend anything. Let’s just split the crypto world right now into 2 types of coins: stable, and unstable.
Unstable coins (Bitcoin, Ether, Ripple etc.) can see their fiat value go up or down several times a minute. They’re volatile, and while they can be used to pay, the buyer and seller need to agree on the spot, convert fiat to the coin and start the transaction – at the end of which, the fiat value received may be higher or lower than when the transfer started. Because of that, I’ll avoid discussing them here.
Stable coins usually run on the Ethereum blockchain, and use a technology called “smart contract” to attach their value to fiat. A stable coin like USDC, DAI, USDT etc. will always be worth $1 (give or take 1% at certain times). For all intents and purposes, if I quote you a price of $250 and you send me 250 USDC – we’re done.
Chapter 3: what do I need to have to trade in stable coins?
An address – your crypto address allows you to control crypto on the blockchain. More specifically, it allows you to withdraw funds (since everyone can deposit to your address, whether you want it or not).
A crypto wallet. A wallet is NOT where you hold your coins! Your “money” is on the blockchain, assigned to your address. Your wallet allows you to mange the coins in that address. You can either use one of the free wallets out there, or have one provided to you by an exchange. I recommend MetaMask. It runs as a browser extension (Chrome, Firefox, Brave) or a mobile app. Make sure you do your due diligence before selecting a wallet, so you wont use a scammy app, that will use your pass phrase to clean up your address!
Some Ether (usually 0.05-0.1 ether is enough for several transactions) – every transfer on the blockchain has a fee, representing compensation for the computer work done to transfer funds from address to address. This fee, known as “gas” can go from fractions of a cent to several dollars – depending on the blockchain traffic at the time. You can control the amount of gas, and price of gas for your transactions, but generally speaking: the less you pay, the slower the transfer. Gas is paid in Ether only, so you need some in your wallet (see below on how to get it).
If you want to sell using crypto – you’re done!
If you want to buy using Crypto, you’ll need to convert some fiat to stable coins – see next chapter.
Chapter 4: Quickest way to get stable coins
The easiest way to start (in the US – your miles/kilometres may vary elsewhere) is to open a Coinbase account. (Disclaimer: you can choose any other exchange. I’m not compensated by Coinbase, I have no stake in Coinbase, I don’t work there, or know anyone who does. There’s a reason I mention them: they make this simple.) While Coinbase is the fastest and easiest way to go for noobs, there are some caveats:
Coinbase is a registered financial company. They require full KYC (i.e. photo of your driver’s license). Everything you do gets reported to the IRS, authorities, etc. But then, your bank does the same.
Coinbase doesn’t care where the funds come and go – unless law enforcement, IRS, SEC etc tell them to care. If you’re privacy-oriented, an exchange is not for you, go to the next chapter.
Let’s look at the steps of using Coinbase, and how much they’ll cost you:
Open Coinbase account (free)
Go through KYC needed to connect a bank account to your Coinbase account (free)
Transfer fiat to your account (free if bank transfer, otherwise credit/debit card fee applies)
Convert fiat to the stable coin USDC (FREE! Since Coinbase “owns” USDC, they don’t charge anything to convert back and forth between USD and USDC. And it’s always 1-1 conversion.)
Transfer USDC to an external wallet (yours, or a sellers) (FREE! Again, another perk – Coinbase pays your transfer gas fee).
If you’re content with using Coinbase as your wallet, you are done!
a. When you want to buy, you ask the seller for his address, and transfer USDC to him (free). b. When you want to sell, you give the user your Coinbase USDC address and he sends there (free again). c. Make sure you send the right address – there are no backsies in crypto!!!
Using your own wallet:
Install MetaMask. Follow instructions to create your address. Make sure you keep the pass phrase safe (NOT ON YOUR COMPUTER).
Go through steps 1-5 to convert some fiat to USDC for free.
Buy some ether – Currently Ether spot is about $230, meaning it’ll cost you about $10-20 to get some Ether + whatever fee Coinbase has on trading.
Send the USDC to your new address.
Send the Ether to your new address.
You are now good to send and receive payments!
When you receive USDC from a buyer, you can either keep them in your wallet for further use, or send to Coinbase, convert to fiat and send to your bank account. Always remember: on Coinbase 1 USDC == $1.
Chapter 5: Doing it on your own – for advanced users only
If you don’t like sharing all your info with Coinbase, you can definitely just install your own wallet (MetaMask is still the best option, IMHO, but there are many more), and fund it personally. The biggest challenge you’ll face is: how do I convert fiat to crypto? Here are some options:
The easiest: get someone to sell you some. Someone who already went through the whole process, and will agree to give you some crypto. Once you have crypto, you can easily convert it to any other crypto, without using any exchange, using crypto swap apps.
The more expansive: use a service like Changelly (and there are others – again: I have no stake) to “buy” crypto. Take into account that they have fees. There are also services (like LocalBitcoins) that will allow you to buy directly from other people, for lower fees.
You can use a different exchange, perhaps even one in a different country. Take into account that you’ll need to get actual money there, so at one point, someone will know something about you.
As said, once you have ANY crypto in your wallet, it’s easy to convert it to stable coins, Ether, or everything else you need.
I tried covering the basics of using crypto for payment. I did my best to avoid techy aspects and jargon. Crypto is here to stay. Next (and current) generations will use it, like we’re using credit cards and PayPal. It will have no “magic” or “hoax” attached to it. It’s not “good” or “bad” – it’s just another way to convey value. I was taught all this by someone. I’m sharing this with you now, in the hope you’ll share it with other people. That’s how knowledge grows. If anyone wants any clarification, or expansion on any item, feel free to comment below, or reach out to me.
Continue the discussion below, any post from the list grabbed your attention this week, made an impression within the context of FIRE, maybe presented additional questions or an opportunity for further discussion here.
Reddit app allows sideways navigation to view across the table
🚀Launching Hummingbot connector governance: the candidates and how to vote
As described in our post last week on connector governance, we are allowing the community to vote for the next exchange connector that we merge into the Hummingbot codebase. This is the first step in our path to turn Hummingbot into a community-owned and operated open source project.
The voting process
The first votes will take place on the Hummingbot Discord server, under the read-only #governance channel. You can discuss and debate the candidates on the #governance-chat channel. In the #governance channel, you will see a poll called Hummingbot governance proposal #1. You can participate by selecting the emoji that corresponds to each candidate connector. You can vote for as many candidates as you like. The voting period lasts from today (August 24) until Sept 8 12am UTC time, when we plan to release the next version of Hummingbot. For the exchange connector with the most votes, we will work with the developer to review and support it in the subsequent Hummingbot release.
Below are the three exchange connectors that you can vote for:
About According to Beaxy, they are a leading cryptocurrency exchange that emphasizes compliance (FDIC insured USD accounts up to $250,000, FinCEN registered Money Services business), security, and support for advanced traders (API that supports FIX, websocket and REST, along with prebuilt TA). In particular, Beaxy is one of three cryptocurrency exchanges that offers 6 major global fiat currencies as a crypto-fiat trade pair, offering support for AUD, CAD, GBP, EUR, JPY, and USD fiat currencies. This allows traders to arbitrage between the various BTC-fiat currency pairs on the same exchange. Current Status https://github.com/Beaxy/hummingbot/releases/tag/v0.29.0 The Beaxy connector is being used in production right now, and behaves as expected in live trading. Users have reported success with pure market making strategies, while others test cross-exchange arbitrage. Ongoing Support Beaxy’s engineering team plans to keep the connector up to date. Their engineering and customer support teams can support users with any technical enquiries. They also provide a dedicated channel in their Discord channel specifically for bot support, and they also offer 1-to-1 video support sessions for users as well.
About Loopring is a Ethereum-based decentralized exchange protocol that differentiates from other DEXs. In February, they launched Loopring.io, the first DEX to use zkRollups Layer 2 tech to improve transaction throughout. In order to bootstrap liquidity for their new DEX, Loopring launched their own version of liquidity mining, which provides token rewards to users for running market making bots on the exchange. Current Status https://github.com/Loopring/hummingbot The Loopring connector, built by one of Loopring’s partners, is currently being used in production. Ongoing Support Loopring and their partners are already supporting users of this connector and plan to continue doing so.
About OKEx is one of the largest cryptocurrency exchanges in the world, and often ranks in the top 3 by daily volume (source: FTX volume monitor). OKEx provides both spot and futures markets and serves millions of users in over 100 countries. Current Status https://github.com/celo-org/hummingbot/pull/1 The OKEx connector, which should also be compatible with OKCoin, is being built by a developer at our partners at Celo. This allows Hummingbot users to make more effective use out of the `celo-arb’ strategy, as OKEx lists CELO and OKCoin was the first exchange to list cUSD stablecoin. The primary bulk of the work is completed, but the connector has not yet been extensively tested nor used in production. Ongoing Support Since this connector is not built by the exchange, the Hummingbot plan to provide ongoing support for this connector, regardless of the vote outcome. If OKEx wins the vote, we will fast-track the process of supporting this connector and expect it to be merged into the v0.32.0 release. Otherwise, it will be in a future release.
Bittrex Review: One of the First Crypto Exchanges Part 1
By Rinat Arslanov, CEO at Revain Despite the fact that digital asset trading is a relatively new phenomenon, among cryptocurrency exchanges Bittrex is considered a time-tested trading platform that can guarantee a high level of security and reliable service. Today, in this all-encompassing review, we will study how Bittrex Global, one of the most popular and secure crypto exchanges, operates.
Bittrex History and Founders
What Bittrex Is and How It Works
1. Bittrex History and Founders
Bittrex Global is currently the oldest holding company concerned professionally with digital assets, as well as having access to major US and European financial markets. It grew out of a small cryptocurrency exchange that started with mining bitcoins for $30 back in 2011. Now the holding, whose headquarters is located in the Principality of Liechtenstein, provides a trading infrastructure to its users, enjoying a reputation of one of the safest exchanges in the world. Bittrex Global has managed to gain such customer trust and loyalty through the continuous development and implementation of the most advanced technologies that have proven their worth by continuous and reliable operation throughout the 7 years of their existence. The company always ensures fair opportunities for investing in and trading digital assets for all clients, regardless of trading experience. https://preview.redd.it/e6xsv33codc51.jpg?width=974&format=pjpg&auto=webp&s=748c76c281116a157abb5cf03da0f4bb274170bf https://preview.redd.it/y2csce7dodc51.jpg?width=974&format=pjpg&auto=webp&s=4409bf9032e0c3d5f2ca0b2b528310af8267e8ba To this day, since January 2018, Bitcoin has not been able to rise higher than that time. https://preview.redd.it/nqcifr3hodc51.jpg?width=974&format=pjpg&auto=webp&s=dfb81067c58d42dcf423b303b2e108d04c5121c9 The future Bittrex team really wanted a way to acquire Bitcoins again. Mining was going to prove untenable, so they brainstormed and started the first crypto-based business—GiftcardBTC. At that time, Bittrex had a simple idea of earning through selling gifts and calling cards for Bitcoin. It was so easy to earn cryptocurrency and then convert it into fiat US dollars, and that endeavor made it possible to offset the costs. Then, the founders of the future cryptocurrency platform designed a Bitcoin miner that started to earn money continuously, but this was not the limit of their dreams. Less than a year later, the first cryptocurrencies—Bitcoin and its fork Litecoin—got up in price many times and then the creators of Bittrex added Litecoin to their package. Using Coinpayments.net infrastructure for processing payments, they ran into problems, since there were still practically no abilities to convert or withdraw cryptocurrencies into fiat currencies. The founders began to look for convenient automatic ways to do this but at that time exchanges could not provide such services. At that time, Bill Shihara and Richie Lai regularly traveled to Las Vegas and in late 2013, during one of such trips, they were discussing the problems they faced for many hours, trying to find a solution and considering various options. In the end, they decided to start software development in the west. Now this decision is considered the birthday of the Bittrex trading crypto platform. They decided to invite a professional from Microsoft, Rami Kawach, to discuss their idea. After some time, they had an ambitious plan to develop and launch a platform for crypto exchange in less than two months. The plan was accompanied by a gentleman's dispute among Rami, Richie, and Bill over a bottle of 25-year-old whiskey, which concerned the timing of the plan. The formed team began to work actively on a project to which they devoted all their free time and worked day and night. In mid-February 2014, they launched the Bittrex website, and on the last day of February, they made it accessible for the general public. As a result, Richie and Rami won over whiskey against Bill. https://bitcointalk.org/index.php?topic=463202.0 and started sharing on February 28 https://bitcointalk.org/index.php?topic=492758.0 https://preview.redd.it/o4aoa20rodc51.jpg?width=973&format=pjpg&auto=webp&s=0606a27b9da4bb5018e570dab91a7dac1fcb218c https://preview.redd.it/5ft1k4wsodc51.jpg?width=974&format=pjpg&auto=webp&s=21bf5285c1394534ed92379495f8fa76edcb1277 https://preview.redd.it/wy9fs3hvodc51.jpg?width=430&format=pjpg&auto=webp&s=452ab77dca6b1a0d4a9a225c4efe7d358bf24c6c It was then when a large partnership began; later, the alliance ensured the joint company’s future success. They formulated several postulates that became the cornerstone of their business:
We ourselves will never trade cryptocurrencies on our exchange. Too many shadows occurred in too many places, and we will not trade against our clients.
We will always maintain honesty on our exchange. No one gets special information. No one gets special prices. Transparency is paramount.
We will never sacrifice long-term gain for short-term gain. We have been together for a long time.
Microsoft: Software Security Engineer, Principal Development Manager
Crypto Exchange Partners
Bittrex is constantly moving forward, embedding a strategy that leads the innovative future of the crypto-financial industry. To implement its strategy, the platform interacts with the most interesting innovative crypto projects based on blockchain technology. They have developed an affiliate program that helps launch trading platforms from 13 countries around the world. Today Bittrex cooperates with the following businesses across the globe:
2. What Bittrex Is and How It Works
Bittrex is a multi-currency trading platform where you can exchange, buy, or sell cryptocurrency and fiat money. The exchange is available in all facets: you have great opportunities in making foreign exchange transactions, both with digital assets and with ordinary money. Not everyone understands what fiat currencies are, but in fact, these are the good old usual paper cash and non-cash money that are issued by the central banks of various states. Fiat money mainly differs from cryptocurrencies in that it is regulated by governments, which can influence their output and exchange rate. On the Bittrex crypto exchange, you will find more than a quarter of thousand of various types of cryptocurrencies and 364 currency pairs. A currency pair is a pair of currencies that can be exchanged one for another at a certain rate. The most common currencies can be exchanged for hundreds and thousands of other currencies, both digital and fiat. Cryptocurrencies such as Bitcoin Litecoin or Ether have the largest number of pairs available for exchange. Appearance cements the first impression, and the user interface is key in any digital. In Bittrex, the interface is intuitive even for those taking their first steps in trading. Not only does it look sleek but it’s also very easy-to-use. You only see what you need on the trading screen. Here you can see structured information about trading pairs, history of changes in exchange rates, and wallets. The website will guide you on how to make a deposit, how to work with orders, what happens to your money, and how to withdraw it. All work with such a platform begins with the opening of an exchange account. You can find everything you need to configure a wallet in Settings.
Clang! Clang! Clang! I swear on the genitals of every god, I’m moving. I’ll dig a hole in the fucking Subterrane or something. Hell, I’ll just punch whoever this is in the face, and keep punching until they’re a fine liquid. Prison would be better than anyone being able to walk up and bang on my door while I’m trying to sleep. Clang! Clang! I roll over, because my brain’s only been off for about two hours and I cannot withstand a mere taste of sweet, sweet oblivion. “Fuck off!” “Either you open this door or I do, Featherlight!” It’s Deepwell. I don’t think the Lieutenant has ever shown up here before. He’s never had a reason to. This could be bad. I shed the blankets and ooze out of bed, lumbering over to the door and shoving it open. There’s Lt. Deepwell, uniform as blue and black and pristine as ever. He looks fine, but he’s got his hands on his hips like a miffed aunt. He scrunches his orange, caterpillar-y eyebrows at me. More specifically, at my underwear, which is salmon pink with a repeating print of a teal and orange umbrella cocktail. “I didn’t think you were the type, Featherlight.” “I’m a man of fashion, Lieutenant.” “The fuck are you doing here?” “I live here.” “I somehow expected you to be gone longer than less than a day.” “Me too. Expectations are funny like that. I didn’t tell anyone I was back yet, Lieutenant. When did you bug my apartment?” “You bugged your apartment. The scrambler on your computer. It logs activity. I got to my desk this morning and saw it had your data engine coming out of standby at around one in the morning. So I drove over. I thought someone had tried to rob you or something.” “Nope. Just me. You’d better come in.” I let him in. He doesn’t look around a lot, because there isn’t really anything to see. I do see his eyes stop, very briefly, on the machinery panel leading down to my secret hidey hole. Because he’s a cop, and all cops are criminals that just happen to be part of the biggest gang in town. I sit down on my bed, and wave at the chair. He spins it around and parks, reaching into his jacket. “Can I smoke in here?” He already knows the answer, because there’s an ashtray on my desk. He’s just being polite. “Only if I can have one.” He hands me a smoke out of his shiny pack of Crystalclears. They’re wrapped in blue paper. A no-nonsense middleshelf brand. Smoked by cops, accountants, dads, and anyone for whom musical theater is a death sentence. They taste like leather and professionalism. Lightning one might cause me to spontaneously grow a mustache. We light and smoke for a second. Deepwell tries not to look at my body. It’s hard to do, considering it’s kind of horrible and taking up a good 25% of his vision at the moment. I might put something on just to spare him. “How long were you in there?” “Only a few hours.” “That’s not really long enough for… any of the shit we discussed to actually happen. Or at least I wouldn’t think it is, I don’t know fuck all from magic.” “Turns out I don’t either.” I explain what happened. I trust Deepwell. I probably shouldn’t, but I do anyway. In the middle of the explanation, the animonculus decides to crawl out from under my bed and I explain that too, to momentarily widened eyes. I show off my cool new sword, because why wouldn’t I. At the end of the story I start putting on some pants. He says, “So much for unlocking the mysteries of the universe, I guess.” I shrug. “The universe will still be there when I’m ready for it. Until then, there’s a case. Have you heard anything?” “Rediron’s still pissed. High Marshal has gotten together with a few of the other Lords to try and talk him off the warpath, but he hasn’t relented. The story’s already started leaking into some of the news feeds, which means WCBN is probably going to be given the go-ahead just to retain some semblance of credibility. I haven’t heard anything about the Prime Controller weighing in on this, but a few of the Exarchs have formally filed for inquest. The High Marshal and his band are the only ones stopping it, and that’s just for now. Without some concrete results, the order will probably come down in a few days.” “Have you found anything?” He scoffs. “Since we last talked about it? Yeah, I have. This morning I found a notice in my mail informing me that the case had been moved to the Captain’s desk. I turned all the documents over to him before I came over here. And you know what that means.” I sigh. “Yeah.” It means no more consultant’s fees, and my involvement with the case in any semi-official capacity is out the window, sight unseen. Captain Tallowmire of the Tenth has made his stance toward me and those of my ilk very apparent over the years. It’s not a collaboration anymore - it’s a competition. Deepwell continues, “So go nuts, do whatever you want. I’m just not officially allowed to clue you in anymore.” “Officially.” “That’s right. If I was to tell you that Captain Tallowmire’s initial plan of attack is to hard canvas the areas around the scenes in Ten and Thirteen first, and that you’d be better off hitting up leads a bit more esoteric or underground in nature, if you’ve got any? Well, that wouldn’t be official. So I wouldn’t tell you that kind of thing.” Deepwell doesn’t like Cpt. Tallowmire. He thinks Tallowmire is a glory-thieving bigot who’s gotten where he is by parasitizing the achievements of others. He’s also the reason Deepwell hasn’t been promoted in a while, despite his arrest record - because Deepwell is prone to using people like me as informants and outside hires. Tallowmire taking the case from him means any success is going on his reports instead of Deepwell’s, so now Deepwell has very little reason to work anywhere near as hard. The Lieutenant is just following orders now. “Well. Unofficially, I’m right there with you. I went to check out Littlerock’s place after I got back. Around 1.” “Yeah? Anything interesting?” I tell him the story. Then I start on the second part of the story, but Rocky asked me not to tell people about him, so I lead off like he’s a confidential informant. Deepwell balks immediately like he’s got a fishbone in his throat. “Woah woah woah. Back up. Confidential informant?” “Yeah. They asked me not to reveal their identity to anyone. And they informed me of things. So. They’re a confidential informant. Are you new?” “You’re not a cop, wiseass, you don’t get to have CIs.” “Well, this individual asked me not to tell anyone who they are. And they provided me with information. Sooooooooo…” He just glares at me. I snort, “What are you gonna do, Lieutenant, arrest me? It’s not even your case anymore.” “No.” He huffs a petulant puff of smoke from his nostrils. “I’m just curious. It would be obstruction, if I didn’t think you were probably the best shot at actually solving this case with minimal damage done.” “Well I appreciate that greatly, Lieutenant. But I gave them my word. You get it. From one professional to another.” I keep going until the story is over. I steer away from some of the details that might give away who or what Rocky is, but I still get some raised eyebrows. At the end of it, Deepwell nods thoughtfully. “Who else but the Brotherhood. Fucking scum. You’d better find a way to break this wide open, or I’m gonna have to make a move soon. These chipheads treat the law like it’s a fucking suggestion and I’m getting sick of it. I can’t believe they’d kill one of their own just to… I don’t know, test something out. Freaks.” “It’s not like this is a new development. They’ve taken a world war won six hundred years ago and used it as a blank check the entire time. They fucking take people, Deepwell. Hell, look at me. You think I’m some kind of accident?” “I don’t know what you are, Featherlight. You’ve never told me.” “You never asked.” “Well I think that’d be pretty fuckin’ rude, wouldn’t it? Hey, what’s the deal with all the scars and hoses and metal bits on ya? Not something you just up and ask a guy. I know you’re a slab, you’re a mage, and you do dirty jobs. For lollipops, apparently.” I wipe my face. “Suffice it to say, for now, that all this,” I wave at my entire self, “is the Brotherhood’s fault. I’ve got more cause than most to want to put them under my wheels.” “Subterrane stakeout with your new friend, then.” “Looks like it.” “Stakeouts aboveground are tough enough.” “Yeah. Related to that, I was wondering if, unofficially, you could find some way to get some… equipment, into my hands. On a borrowing basis.” He narrows his wood-colored eyes. “What kind of equipment?” “A splat tracker. With opened keys, so I can interface with the beacon.” The Lieutenant rubs his beard pensively. “Hmmm. Could be tricky. That’s specialist stuff, needs forms attached to check one out.” “Can you do it?” “Maybe. I’ll have to come up with a clever justification. No promises. I’ll look into it and let you know by tomorrow morning. You think it’ll work?” “Probably. Even if this… thing, is strong enough to rip off the flash glue, it doesn’t have skin. If it’s busy running away from us, it might not notice being shot in the back.” “If you can hit a target from that far away. We don’t have any slab-sized splat guns, either.” “I’ll make it work. If I’m lucky, I’ll be fast enough to catch the thing without it.” I sit back down on the bed and the metal kitten crawls onto my lap. Deepwell nods at it. “You think Electrofuck is going to go for that?” Shrug. “Hopefully, if I talk fast enough. If not, I doubt he’ll kill me for trying.” He shakes his head. “Well I hope you walk out of there with all your molecules still in the same places. Or most of them, at least. Maybe a couple missing here and there will teach you a lesson about borrowing money from a maniac’s loan sharks.” “Make it so people like me can find consistent, gainful employment and put Electrofuck in the Arcanix where he belongs, then maybe this kind of thing wouldn’t happen. Move heaven and earth, Deepwell. Chop chop.” “Sure. After lunch.” He stands up, then looks at my desk, pointing at something. “Is this Littlerock’s book, here?” “Yeah.” “And you said you couldn’t make north nor south?” “Yeah, but I only glanced at it.” “Mind if I borrow it? It’s not my specialty, but I know a guy in the crypto lab, and they decode dealer’s books all the time. They might be able to squeeze something out of it.” “Okay. All yours.” He pockets it. “I’ll let you know if anything comes of it.” One hand on the door, he looks back and says, “Keep an eye out for chipheads. I’ll get in touch tomorrow morning. Don’t do anything stupid between now and then.” I shrug my arms at the room he’s in. “My whole life is stupid, Deepwell.” He smiles. “Better dumb than dead.” And he’s gone. I flip my coat on and make sure I have everything. There’s not a lot to have. From my bed, the magitechnical kitten looks at me. Its eyes smolder with the light of ineffable ages, the glare of powers that my pathetic human mind has no chance of ever grasping. I stuff it in my pocket. It mews at me indignantly from somewhere around my hip. Yeah, you and me both, pal. Time to face the music. Or, more accurately, time to face the murderous electricity wizard and trade him a millennia-old magical robot kitten for my life. Y’know, just another morning for Baulric Featherlight. [you can find the first chapterback here. the rest of the chapters you can find under my reddit profile or down there in the comments, gathered by the helpful robot. and if you think my work is worth paying for,why not flip me some spare change? freelance writing is tough, but i can keep going with help from readers like you. i'd really appreciate it ♥] [by the way, i've started the process ofmoving this project to Royal Road. if any of you folks are also Royal Road-ers, comments, reviews, and follows would really help me out ♥] [and thanks for reading. ♥]
With Bitcoin Suddenly Surging, Canaan Stock Is Also Going Up Today
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