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The Reddit Bake-Off, Reddit-wide tokenization, and where NANO fits in the future of digital exchange.
I first learned about Bitcoin from a person I met at an interview in late 2017. My primary interest was Bitcoin, but at the time I saw how much profit early Ethereum adopters yielded and I envied them for finding such a successful project in its early stages. My first investment in cryptocurrency was Litecoin. I was attracted to the fact that, although it was essentially the same as Bitcoin, it was faster and slightly less expensive. I dove in and I got rekt. As time went on I began to do research on different coins. I found Binance and started exploring alts. I'd look at the Binance chart, pick a coin, Google it, read their whitepaper (since I didn't understand the code, eventually I just judged a whitepaper by its aesthetic), and ultimately I would end up on their subreddit. That's how I found CryptoCurrency. At some point in my journey, a new wave of confidence entered the market. People started talking in the Daily about a new coin that appeared on some weird exchange whose named I had never heard. They said it was instant and free and that it was the absolute epitome of what Bitcoin was meant to be. Countless users suggested this coin would absorb the entire market cap of Bitcoin. Its name was strange, RaiBlocks (XRB). I had bought in around $20 at the time the price went from $0-38 in a couple of weeks. Everyone was enthusiastic about the bull run, but it was the technology and its potential for worldwide application that people were excited about most. Welp, some bad press and a couple of years later and we are now in the depths of obscurity and any mention of NANO in the Daily on CryptoCurrency, the same sub that birthed its popularity in the first place, is chastised. I sadly watched as NANO lost its clout and with it its price. Eventually, BrainBlocks died, which was my favorite project of all, and I exited completely. I even removed NANO from my watchlists because I knew if I saw it I would buy back in. NANO fell off my radar entirely for about 4 months while I dove head first into DeFi. However, last night I saw the charts looking favorable for a breakout, so I re-entered. Then today as Bitcoin pumped and every other alt dumped, NANO miraculously jumped. I figured the trading bots still oddly tie NANO to Bitcoin and after seeing NANO as the only successful coin in a sea of red, I came back. I also thought maybe the developers knew something we didn't, and the price was increasing before something big was about to happen, but that's just wishful thinking. Right now, the most exciting corner of the cryptocurrency space is far and away the fact that Reddit is now heavily involved in the future of cryptocurrency integration:
As an experiment, Reddit has begun given tokens to posters/commenters at two subreddits for upvoted content: Moons and Bricks at CryptoCurrency and FortNiteBR, respectively.
A user was even able to bridge Moons and Bricks to equivalent tokens on the xDai Network (xMOON and xBRICK), and are literally tradable. For example, I earned 425 moons last month and I bridged them to xMOON and traded them for ETH on Honeyswap. I earned ERC-20 tokens from Reddit, bridged them to another network, and sold them. This, ladies and gentlemen, is not only the beginning of the tokenization of Reddit. This is going to be the beginning of tokenization of everything. NANO is faster and feeless. An infinite number of blockchains can be created on the block lattice. A community member even generated a Moons to NANO converter, right? My question is: Is it possible for NANO to bridge ERC-20 and ERC-677 tokens from the Ethereum network to NANO sidechain equivalents. Fore example, NANOETH, NANOLINK, etc.? Why can't NANO participate in the Bake-Off and develop a protocol that bridges NANO and other tokens via sidechains? Is it possible to create a token for every single subreddit and have them run simultaneosly the NANO network? Why isn't NANO in the discussion for this and why haven't we entered the Bake-Off? Is this not the best use case for NANO and the best place to implement the protocol? To be quite honest, I am back because I think NANO will succeed in some way and I imagine the developers have a plan for marketing with the next hype wave in cryptocurrency. However, if that is not the case, then this project is missing a serious opportunity to become a part of perhaps the single most important incoming disruptor in the cryptocurrency space and economics, err, soon-to-be tokenomics of our society. People once thought this coin would absorb the entire market cap of Bitcoin, but it's been 3 years and other projects have gained traction and now the spotlight is on Ethereum. Yes, there will never be another coin as fast or as free as NANO, but there needs to actually be use for it for it to become valuable and have a place in the future. Thanks for reading! tl;dr - Reddit is tokenizing all subreddits and is actively hosting a competition in order to try to find the solution to Ethereum scaling, called the Bake-Off. I want to know if it is possible for NANO to participate in the Reddit Bake-Off and use its protocol to tokenize Reddit.
Ultimate glossary of crypto currency terms, acronyms and abbreviations
I want to share my 2017 crypto market experience for anyone who wants to read it, I was one of the greedy guys who knew nothing about trading and still made a potential ton, then lost it all due to, well... Being greedy and knowing nothing about trading.
This does not really bother me much, but I haven't been able to stop thinking about it either, what could have been, I will try to be as brief as posible: Back in 2011-2016 I was working as a software developer freelancer, back then I lived in Venezuela, and mostly used paypal to charge clients, paypal would constantly limit my account, but I would get it back after submitting documents and a bit of begging, this was the only way I could receive payments from international clients, and basically the single point of failure in the process of delivering my work and getting paid, if paypal permanently banned me I would be completely screwed. About 2015-2016 my paypal got limited permanently, no reason stated, I thought it was really unfair as I only received payments from business in countries like the US or Canada, no sketchy money entering my account, anyway, when this happened I became incredibly stressed and depressed, all I could think was I wouldn't be able to feed my family anymore, and what would I do if an emergency happened that same day or week or however long it took me to figure out how to receive payments again through another method, all I had was held in my paypal account, so I had nothing to defend myself in the meantime. Anyway, it took me about a week of constant reading to realize I could convince a few clients to buy crypto for me, I lost about 60% out of my stream of income due to clients ditching me as they didn't want the bother of purchasing crypto just to pay a freelancer they could replace for one that was easier to work with, I used localbitcoins to sell the bitcoins I got for national currency so that I could purchase what I needed, I was not really able to stock up on some bitcoin as an investment as I spent everything I earned due to sustaining my almost the entirety of my immediate family. Fast forward to 2016 or 2017, and I start to try out purchasing bits of crypto, and trying to time the market to make a little bit more, doing this somehow I managed to convert about $100, into $400-$500 in a matter of a few months. Then hits late 2017, around august I believe, when everyone was purchasing alts like crazy even if they were scams, most people were blinded by greed, me included, it was at that point that I decided to drop work for a few weeks to see if I could make some good profit out of the state of the market, and so I took those $400 or $500, and started to daily trade with it, making 20% sometimes, 30% or 50%, as well as sometimes losing everything I had done during the day, a few of the trades I remember doing was purchasing LTC, XRP, IOTA, BCH and a few more right before they 2x or 3x in price, I was doing swing trades with the entirety of my portfolio, because I realized I could earn more that way, so if I had 5k total in crypto, I would do the swing trade with the entirety of it, and either lose $1000 or make $1000 if it moved 20% in either direction, my only real strategy was to read up on most recent trading discussions on a few social media, which was no strategy at all, I was just being reckless, I remember I could only sleep 2 hours every night because I was afraid of losing everything while being asleep, I set a bunch of alerts, was stressed, didn't want to talk to relatives nor anyone because I would feel like dying when losing 10% or 20% out of my portfolio when it grew to a certain point. Anyway, at some point I got up to $20k, or $25k, then decided to put it all in XML because I had read some discussions on it, and realized people seemed to really like it, don't remember exactly what was my entry price, but when XLM almost got up to $0.70 - $1 a few days or weeks later, my portfolio was worth $130k, and it remained that way for a whole 24 hours or so, If I remember correctly My heart was racing, I thought for sure I was going to make it $1m at some point Then, of course, everything started to crash hard... just a few days later my portfolio was worth $80k, a few days more and I was at $60k, I started to panic like any regular silly greedy guy and tried to profit off some swings only to lose more than I would profit from, months of sleepless nights later, with a lot less hair in my head, I finally decided to take it all out, at which point I had about $12k worth of crypto. I used that money to get me, my wife and my mom out of the country, I was also lucky to have dual citizenship thanks to my mom having been born in another country, so I could move to a first world developed european country instead of another struggling country in south america, I was able to set up proper bank accounts so that I could find good clients and make it easier for them to pay me my dues and still use crypto for those that were willing, and of course, I took my work back as a freelancer, although by this point my previous clients had found other people to work with. In the end things turned great, I suppose, I would not have been able to save up those same $12k while working as a freelancer back in Venezuela, not even close, that whole experience got me out of that awful country and way of life, still, I can't stop thinking that if I at least had gotten out at $80k, or even $60k, I would have a down payment on a decent house, were, even 1/3 of the price of it, easily... instead, I blew through it while moving to the new country and paying a year worth of rent plus a couple of work laptops for both me and my wife. This part of my life will always be a crazy memory to keep, and share with future friends I may make, so I felt like sharing it here as I have been watching the sub for a while, though I just lurk.
People who invest in bitcoins also want to use it in their daily life. They want to know the ways by which they can easily spend their bitcoins to pay for a bill, to buy something, or use it in the hour of an emergency. If you are a resident of the United Arab Emirates and want to convert your bitcoin to its local currency and then cash it out quickly, then worry not as you can do that easily. For this, you would need a reliable exchange service that facilitates you to exchange, sell, or buy your digital currency. As of today, 1 BTC value is 41,883.35 AED. However, the rates fluctuate every day. So it is up to you to decide the day when you want to convert your bitcoins to AED. The value of bitcoins has increased drastically as compared to 2010. It is only a matter of time that it will be more valuable than now. For this reason, many people are now investing in this cryptocurrency, and many are also entering the field of bitcoin mining. Bitcoinscashout provides the currency converter calculated, which you can use to find the current value rates easily. You should always select the time when you can gain the most profit out of it. It is of utmost importance that you always select a reputable exchange website. Make sure that you don’t become the victim of their scam. That is why choosing how to withdraw money from coinbase is a wise choice as they have many customers from all over the world, and they assure safe and secure money conversion or transfer. This website is also user friendly that you can use without any problem. They provide the best rates without any hidden fees. You can easily convert your digital currency to the local currency of UAE; Dirhams or transfer it into your bank account in less time. Another advantage is that you don’t have to go through any long verification of ID. You can exchange your bitcoins anonymously. You also get the highest value and gain profit fast. They offer premier service, which guarantees customer satisfaction. Hence many people recommend using this exchange trade site. Accessible Exchange Process So, you first have to go to the exchange option and bitcoin chicago exchange . There you will see the option where you have to select the amount that you desire to exchange. Then, select the currency. Further, you would have to select the method through which you want to get paid. Enter all the details accurately and recheck the account details. Lastly, click the order now button. After a while, you will receive the exchanged amount in your bank account. You can easily cash out the money from your bank and use it as per your preference. You will be able to receive your money without paying any fees. This exchange is credible, and you can proceed with it without any doubt. You don’t have to worry about being scammed by anyone. Just provide your details accurately so that you receive it in the desired account. It is a convenient place where you can sell, buy, or exchange your cryptocurrency efficiently. It is quick, as well as highly reliable. Users can operate it with full convenience. In case you face any issue, you can contact the team and resolve all your queries. Enter your name, email address, and your message about the problem that you are facing. Their expert team will help you out in any way they can, guide you through the process, and your exchange will proceed and will be completed successfully.
The greatest wealth transfer of this century! An analysis: British-US-Chinese Empires: Gold, Silver, Bitcoin, Ethereum!
"Inflation makes you pay 50 dollars for the 20 dollar haircut you used to get for 5 dollars when you had hair!" Let's embark on a journey that made the United States the number 1 economy of the world.
1. Despite the British Empire's claim that it would for ever remain the leading empire,history can serve as a harbinger for what's to come...
At the peak of its power, in 1913, "the empire on which the sun never sets", controlled 25% of the planet's land mass and about the same percentage of the world's population. Britain was both the naval an imperial power of the 19th century, and between 1812-1914, its dominance resulted in relative peace in Europe and the rest of the world. The industrial revolution transformed Britain into the workshop of the world. By the start of the 20th century things changed as both Germany and the United States started to challenge Britain's economic and influential leadership. As often happened during human history such challenging lead to war and although Britain achieved its largest territorial influence after WW1, the war had destroyed much of its economic strength, with losses in industrial and military power marking the begin of its demise. During WW2, Japan occupied Britain's colonies, and after WW2, India, Britain's most valuable and populous possession, achieved independence. Much of the British Empire's influence is now enshrined in the Commonwealth Charter, stating shared values like democracy, human rights and the rule of law. The United Kingdom's pound sterling was its world's reserve currency during its reign and by controlling the supply of money, Britain was able to influence its global power. "Permit me to issue and control the money of a nation, and I care not who makes its laws!"Mayer Amschel Rothschild
2. The US Empire repeats this blueprint by claiming the U.S. Dollar's reserve currency status as its birthright!
The Federal Reserve Act. The Panic of 1907 triggered many American's belief that The Federal Reserve Act, passed by the 63rd United States Congress and signed into law by President Woodrow Wilson on December 23, 1913, was necessary for financial and economic stability. The law created the Federal Reserve System, the central banking system of the United States. The Bretton Woods System. The FED ended immobile reserve issues and the inelastic currency problems and successfully internationalized the U.S Dollar as the global reserve currency. The usage of the prior nationally used U.S. Dollar expanded a first time when the Allies agreed to the terms of the Bretton Woods System, establishing the rules for commercial as well as financial regulations among the United States and its allies. Canada, Western Europe, Australia and Japan accepted the U.S. Dollar, which was backed by a gold exchange standard, making the U.S. Dollar "as good as gold". This was only possible because the United States controlled two thirds of the world's gold reserves. Soviet representatives, who claimed that institutions like the IMF and the International Bank for Reconstruction and Development (IBRD) were Wall Street branches, didn't participate in Bretton Woods and later proved to be right, as the United States printed too much money (not backed by its gold reserves) to wage war on Vietnam, destroying a big part of the value of the U.S. Dollars held by its allies, due to the inflation of the U.S. Dollar money supply. Yet, the initial demand for U.S. dollars created the American way of life: a consumer driven economy fueled by products made outside the U.S. in return for U.S. Dollars. As the Allied countries couldn't really buy any "Made in America"-products, due to the fact that the United States' elites rather outsourced their manufacturing, they instead invested their hard labor into U.S. Treasuries. On August 1971, President Richard Nixon announced the unilateral cancellation of the direct international convertibility of the United States dollar to gold, in a response to halt the Allied countries' continuous attempts to exchange their U.S. Dollars for Gold. By 1973, the Bretton Woods system was replaced by the current freely floating fiat currency system. The petro dollar system. The second wave of U.S. Dollar adoption was the result of the petro dollar, making the global trade of oil U.S. Dollar denominated. Every country on this planet needed and still needs oil to operate and grow its economy, creating an enormous growth in U.S. Dollar demand and like mentioned before, those dollars had to be earned. Especially China served the United States consumer model by producing almost everything Americans can buy in Wall Mart and other stores. By relying on the U.S. Dollar reserve currency status, the American elites have made the mistake of outsourcing manufacturing to China, as often predicted by Donald Trump in the 1980's. The y figured it was easier to just print wealth. The tradewar. President Donald Trump, decided it was time to bring jobs back to the U.S. and started an ongoing trade war with China, the country that supplied the U.S. consumer driven economy, and proud owner of $1.07 trillion in Treasury holdings. The trade war has negatively impacted the economies of both the United States and China and will most likely result in the decoupling of both economies. What is to come? My personal insights. I see huge problems for the U.S. and the rest of the western liberal democracies. But especially the United States, who's currency amounts to no less than 60% of all the world's reserve assets, is vulnerable if and when China who only accounts for 1 or 2 %, says it is time for change. Most likely we will experience another banking crisis, with or without Covid-19, and unfortunately a bigger one when compared to the 2008 dissaster. Did you know that the global debt tripled since then? Many economists and politicians advocate the end of the U.S. Dollar reserve currency system and predict a reset. Every financial system has a limited lifespan similar to a human live: it is created, it grows, it matures, and unfortunately, it ages, weakens and dies. It happened to the Brittish Pound Sterling, and I am afraid that the days of this financial hegemony are numbered as well. And I did write "afraid", why? History tells us that these transition periods are particularly dangerous and have often led to full-blown military conflicts if not world wars. The current wealth transfer, the result of manufacturing outsourcing to mainland China, impoverished the United States and destroyed its middle class. President Donald Trump's analysis that the U.S. needs a strong manufacturing base is correct, yet without its allies the United States will not be able to turn the tide. It took China decades to build its manufacturing base, and President Trump doesn't have the privilege of having the political luxury to design five year plans, as the United States capitalistic and political model specializes more on presidential campaigning and less on economic planning, which is exactly China's strength.
3. The Chinese 'digital' empire.
China is ideally positioned to become the new global power: it produces many of our products and dominates most supply chains. It has been hoarding gold and mines most of the Bitcoin. It might just have the right reserve assets to back its DCEP, the digital Yuan, which will be pilot tested during the 2022 Winter Olympics hosted by China. Despite the fact that the United States and other western nations might not want to adopt the Yuan or allow it to be part of the world's reserve assets, China can demand payment in Yuan for its products. It's that simple! This is why outsourcing is such as stupid economic voluntarily yet fatal policy. If you only print money and don't produce goods, how long will the world play ball? One of the results of Trump's trade war is that China and other countries such as Russia and Iran no longer want to be vulnerable to U.S. sanctions that come in the shape of being denied access to the financial system through Swift. The United States can indeed destroy a big part of Iran's economy, but Iran is now becoming a big cryptocurrency player. In other words, bullying those countries might work in the short-term, but in the long-term they will simply adopt a new standard: and I believe that the Yuan will likely play a major role in the financial system they will adopt. This trend means that the expansion of the demand in U.S. Dollars will stop and reverse, when countries no longer want to use the currency whose issuer can economically destroy them through sanctions. The alternatives for such countires are cryptocurrencies like Bitcoin, Ethereum and many others, national CBDC's (Central Bank Digital Currencies), and the adoption of the digital Yuan. This digital Yuan will be attached to the One Belt, One road initiative, finding adoption whilst developing huge infrastructure projects that will lead to a Eurasian trading zone. If the U.S. Military leaves the Middle East, as Trump brings home troops, this will create the right conditions for China to emerge as the victor.
4. Surveillance Capitalism - Insights on the DCEP (Digital Currency Electronic Payment, DC/EP):
This centralized digital financial system works on blockchain and cryptographic principles and aims to increase the circulation of the RMB, in the hope it can become a reserve currency like the U.S. Dollar.
Created and sanctioned by the Chinese Government, it is the only legal digital currency in China.
The system offers Chinese regulators better monitoring abilities and will be an efficient tool against anonymous counterfeiting, money laundering and illegal financing. At the same time it reduces costs involved in maintaining and recycling bank notes and coins.
As mentioned above, China aims to bypass Swift, which it regards to be a U.S. entity, and will be able to collect real-time data related to money creation, bookkeeping, essential information for the implementation of monetary policies.
The pilot institutions for DCEP, China Construction Bank, Agricultural Bank of China, Bank of China and Industrial and Commercial Bank of China, will serve as a production test for China's new currency system, after which the DCEP will be distributed to large fintech companies such as Tencent and Alibaba to be used in WeChat Pay and AliPay. Transfers will not go through bank accounts, but through electronic wallets.
By mandating that all merchants who accept digital payments must accept DCEP, the DECP will become the most accepted digital currency in the world.
5. Sings of hope.
If the United States adopts blockchain and issues a CBDC (Central Bank Digital Currency) backed by Bitcoin, they will have a reasonable chance to offer the western democracies a new type of dollar standard that can be an anchor versus the coming RMB. If not, I fear the worst is yet to come for the U.S. Dollar and its economy. Many smart American economists and Wall Street goeroe's have finally figured out the remarkable strength of Bitcoin, the world's first and most favorite digital form of gold. Some of the smartest investment capitalists like Ray Dalio and Warren Buffet have allocated more money into gold, a clear sign of trouble. Bitcoin might be a step too far for Warren Buffet, but rest assure that Wall Street investment management companies have figured it out by now, have you? You can expect more institutions to allocate a % of their portfolio's wealth into Bitcoin and other cryptocurrencies, as a hedge against the systemic risk in our global financial system, which will inevitable start feeling the effects of the trillions that have been printed. "Inflation makes you pay 50 dollars for the 20 dollar haircut you used to get for 5 dollars when you had hair!"
Stakenet (XSN) - A DEX with interchain capabilities (BTC-ETH), Huge Potential [Full Writeup]
Preface Full disclosure here; I am heavily invested in this. I have picked up some real gems from here and was only in the position to buy so much of this because of you guys so I thought it was time to give back. I only invest in Utility Coins. These are coins that actually DO something, and provide new/build upon the crypto infrastructure to work towards the end goal that Bitcoin itself set out to achieve(financial independence from the fiat banking system). This way, I avoid 99% of the scams in crypto that are functionless vapourware, and if you only invest in things that have strong fundamentals in the long term you are much more likely to make money. Introduction
Stakenet is a Lightning Network-ready open-source platform for decentralized applications with its native cryptocurrency – XSN. It is powered by a Proof of Stake blockchain with trustless cold staking and Masternodes. Its use case is to provide a highly secure cross-chain infrastructure for these decentralized applications, where individuals can easily operate with any blockchain simply by using Stakenet and its native currency XSN.
Ok... but what does it actually do and solve? The moonshot here is the DEX (Decentralised Exchange) that they are building. This is a lightning-network DEX with interchain capabilities. That means you could trade BTC directly for ETH; securely, instantly, cheaply and privately. Right now, most crypto is traded to and from Centralised Exchanges like Binance. To buy and sell on these exchanges, you have to send your crypto wallets on that exchange. That means the exchanges have your private keys, and they have control over your funds. When you use a centralised exchange, you are no longer in control of your assets, and depend on the trustworthiness of middlemen. We have in the past of course seen infamous exit scams by centralised exchanges like Mt. Gox. The alternative? Decentralised Exchanges. DEX's have no central authority and most importantly, your private keys(your crypto) never leavesYOUR possession and are never in anyone else's possession. So you can trade peer-to-peer without any of the drawbacks of Centralised Exchanges. The problem is that this technology has not been perfected yet, and the DEX's that we have available to us now are not providing cheap, private, quick trading on a decentralised medium because of their technological inadequacies. Take Uniswap for example. This DEX accounts for over 60% of all DEX volume and facilitates trading of ERC-20 tokens, over the Ethereum blockchain. The problem? Because of the huge amount of transaction that are occurring over the Ethereum network, this has lead to congestion(too many transaction for the network to handle at one time) so the fees have increased dramatically. Another big problem? It's only for Ethereum. You cant for example, Buy LINK with BTC. You must use ETH. The solution? Layer 2 protocols. These are layers built ON TOP of existing blockchains, that are designed to solve the transaction and scaling difficulties that crypto as a whole is facing today(and ultimately stopping mass adoption) The developers at Stakenet have seen the big picture, and have decided to implement the lightning network(a layer 2 protocol) into its DEX from the ground up. This will facilitate the functionalities of a DEX without any of the drawbacks of the CEX's and the DEX's we have today. Heres someone much more qualified than me, Andreas Antonopoulos, to explain this https://streamable.com/kzpimj 'Once we have efficient, well designed DEX's on layer 2, there wont even be any DEX's on layer 1' Progress The Stakenet team were the first to envision this grand solution and have been working on it since its conception in June 2019. They have been making steady progress ever since and right now, the DEX is in an open beta stage where rigorous testing is constant by themselves and the public. For a project of this scale, stress testing is paramount. If the product were to launch with any bugs/errors that would result in the loss of a users funds, this would obviously be very damaging to Stakenet's reputation. So I believe that the developers conservative approach is wise. As of now the only pairs tradeable on the DEX are XSN/BTC and LTC/BTC. The DEX has only just launched as a public beta and is not in its full public release stage yet. As development moves forward more lightning network and atomic swap compatible coins will be added to the DEX, and of course, the team are hard at work on Raiden Integration - this will allow ETH and tokens on the Ethereum blockchain to be traded on the DEX between separate blockchains(instantly, cheaply, privately) This is where Stakenet enters top 50 territory on CMC if successful and is the true value here. Raiden Integration is well underway is being tested in a closed public group on Linux. The full public DEX with Raiden Integration is expected to release by the end of the year. Given the state of development so far and the rate of progress, this seems realistic. Tokenomics 2.6 Metrics overview (from whitepaper)
Ticker: XSN. Currency type: Coin.
Consensus: Minting Proof of Stake, Trustless Proof of Stake.
XSN is slightly inflationary, much like ETH as this is necessary for the economy to be adopted and work in the long term. There is however a deflationary mechanism in place - all trading fees on the DEX get converted to XSN and 10% of these fees are burned. This puts constant buying pressure on XSN and acts as a deflationary mechanism. XSN has inherent value because it makes up the infrastructure that the DEX will run off and as such Masternode operators and Stakers will see the fee's from the DEX. Conclusion We can clearly see that a layer 2 DEX is the future of crypto currency trading. It will facilitate secure, cheap, instant and private trading across all coins with lightning capabilities, thus solving the scaling and transaction issues that are holding back crypto today. I dont need to tell you the implications of this, and what it means for crypto as a whole. If Stakenet can launch a layer 2 DEX with Raiden Integration, It will become the primary DEX in terms of volume. Stakenet DEX will most likely be the first layer 2 DEX(first mover advantage) and its blockchain is the infrastructure that will host this DEX and subsequently receive it's trading fee's. It is not difficult to envision a time in the next year when Stakenet DEX is functional and hosting hundreds of millions of dollars worth of trading every single day. At $30 million market cap, I cant see any other potential investment right now with this much potential upside. This post has merely served as in introduction and a heads up for this project, there is MUCH more to cover like vortex liquidity, masternodes, TOR integration... for now, here is some additional reading. Resources
Warning, long post from my mornings contemplation. See https://twitter.com/markjeffrey/status/1300175793352445952 (Mark Jeffery 30 mins) for a video explaining DeFi. This is my attempt at explaining DeFi. I’m still learning this stuff, so any corrections are welcomed. Links are provided for information, none are recommendations, nor referral links. Do your own research (DYOR) before investing :) I’ll try not to shill YFI too much... Not all platforms use the same mechanics as I describe, but I think I’ve covered the most common ones. Stable coins Crypro currency that is intended to maintain a level value. Normally with respect to USD $. Some rely on a trusted third party who has actual USD sitting in a bank account (USDT aka Tether, USDC…), others are trustless (DAI) Maker Lock collateral into the smart contract. Then DIA can be generated, and used for other things. DAI is designed to match the USD, and is completely trustless. You must have more value staked than the DAI removed (at least 150% over collateral) or you will get liquidated. BTC on ETH Bitcoin can not be directly used on the etherium chain. So, there are a number ways to make the value availble. Most involve trusting a 3rd party and the most common is wrapped BTC wBTC. Notes WETH (Wrapped ETH) is used by some contracts to use ETH (direct use of ETH is not possible in some contracts) Unlinke WBTC, WETH is trustless as evrythign is done on the etherium blockchain (I think). Lending You deposit a valuable token onto a pool on platform, someone else borrows it. They pay interest to the pool. You get a proportion of the pools interest over time. When there is high demand for a particular token, the interest rate increases dynamically. e.g. look at the interest rate model and click on the figure for https://compound.finance/markets/USDC Borrow rates increase lineally as more of the available pool is loaned. 2% at zero and 12.5% when the pool is emptied. Earnings are lower than the borrowing rates because: There is more in the pool than borrowed. The platform takes a cut. e.g. 50% of the pool is borrowed, the borrower pays 7.25%, but the lenders only get 3.38%. 3.38/0.5 = 6.76%, so about 0.5% of the interest is being taken by compound. Different pools have different interest rate functions, DAI has an inflection point to maintain a buffer https://compound.finance/markets/DAI The interest rate increases slowly to 4% until 75% of the available pool is loaned out. Then it’s much more expensive to borrow e.g. 16% APR at 90% utilisation. When lending a single token into a single pool, you should always get the (slightly ?) more of same token back. How lending works You deposit ETH, you are given a token back as proof of participation in the pool (cETH for comound.finance). The exchange rate for cETH to ETH is NOT fixed. Rather is changes over time. As the ETH interest is paid into the pool the cETH becomes more valuable compared to the initial deposit. e.g. you deposit 10 ETH, and get 499.52 cETH. In a months time, you repay the 499.2 cETH cETH and get 10.1 ETH back. You have just gained 1%. Taxes In many jurisdictions, converting ETH to cETH would be classed as a taxable event (DYOR ! ) Lego Bricks The cETH represents your ETH, so it has value. This means it can be used for other things... Lego bricks is taken to mean that all these things fit together and you can sue them in different ways. How borrowing works You need to be over colarteralised to borrow from most platforms. So, if you deposit 10.0 ETH into a smart contract, you (currently) have $4,000 of collateral to work with. The platform may then let you borrow a % of your collateral in other tokens. So, you can borrow $2,000 of USDC, to buy more 5 ETH. Then when ETH price goes up you sell $2100 back to USDC and repay the interest. Now you have 10.x ETH. This is a form of Leverage, when the price goes up, you win. However, if the ETH price goes down, you risk being Liquidated. This means part of your collateral will be sold at the (lower) market price to repay your loan. There will likely be a penalty for you. (e.g. @ ETH = $300, 7.33 of your ETH is sold for $2,400, your USDC loan is repaid, and you keep the remaining 2.67 ETH and the 5 ETH you purchased. Shorting Deposit $8,000 collateral, Borrow 10 ETH and sell for $400 each. If the price drops to $380, buy 10.1 ETH and repay the loan and interest. You have just made $162 profit. However, if the price goes up you will still need to buy 10.1 ETH. Flash Loans A technomage creates a single transaction that borrows lots of money. Then within the same single ~13 second block uses it to do lots of complex things to hopefully make a profit. As it’s all within a single block, collateral is not required. See https://mobile.twitter.com/nanexcool/status/1297068546023993349 for a transaction that made ~46,000 USDC profit (without collateral) If this post is introducing you to the possibilities of flash loans, you are very unlikely to ever do one in the near future. I think Aave is the most common source for flash loans. Simple farming lending: Simply put you token in which ever platform offers the largest interest rate. Moving to the best option costs gas (and attention). Complex lending farming Some platforms offer tokens in return for using a platform, so simple APR comparisons aren’t sufficient. If the additional platform token has high value it can distort the market. E.g. when COMP was initially offered, it was profitable to:
Place collateral on compound.finance
Borrow BAT at 30%
Lend the BAT back to the same platform at 15%
Collect the COMP accrued due to interest paid and interest earned.
Sell the COMP on the open market.
This technique was made less favourable by compound changing the distribution model so smaller pools (like BAT) couldn’t be exploited in this way. DEX Decentralised exchanges range from ones that operate with depositing assets, trading with an order book and then withdrawing, to simple interfaces that allow you to swap tokens. of the latter, the most popular is uniswap. Liquidity provision The swap based DEX’s rely on liquidity providers (LP). Here you deposit equal values of two tokens e.g. USDC and ETH. Then any time someone wants to swap USDC for ETH on the exchange, they add USDC and remove ETH from the pool. Each time someone does a swap, they pay a fee to the liquidity pool and you get a share. Impairment loss However, if the price of one asset goes up, the pool with stabilise to have less of it. So you see an overall increase, but not as much as if you had just hold’ed. See https://twitter.com/ChainLinkGod/status/1270046868932661248 for an example. Hopefully, the fees accrued are greater than the losses. https://twitter.com/Tetranode/status/1300326676451057664/photo/1 Stable coin pairs If you restrict yourself to similar things (e.g. USD stable coins, or different versions of BTC on Ethereum), then the impairment loss is much reduced. Curve.finance focuses on such like for like pools and allows multiple tokens in a single pool. Complex farming liquidity pools Taking advantage of governance token rewards for using certain exchanges / pools. This can be done to boot strap liquidity and / or allow a decentralisation of the governance of the DEX. The tokes received have value because of expected future income, or governance rights (which may be exploited for future income) Yearn Yearn is a group of smart farmer protocols that allow pooling to reduce gas costs and benefit from smart developers / contracts. The simplest EARN take tokens / stable coins and place them in the highest yielding platform for that token. https://yearn.finance/earn The yCRV vault provides USD stable coin liquidity within curve for trading fees, but also lending fees via Yearn pools for each stable coin (oh and it gets CRV governance tokens…). Other vaults use more complex strategies. The collateral is used to generate stable coins that then generate income from interest rates, Liquidity provision fees, and accrual of governance tokens. Some governance tokens are sold, others are used to optimise the rewards from other platforms. For example, see this video on the Link Vault (Mark Jeffrey 13 mins). https://twitter.com/markjeffrey/status/1300175793352445952 I expect the ETH vault may be similar, but may include Maker to generate the stable coins (rather than borrowing on Aave). This video is a good intro on curve / yearn products (DeFIDad 31 mins) https://www.youtube.com/watch?v=yP-4pJpKbRU All of these steps can be done by yourself, however, gas costs would be significant unless you have a large amount invested. Yearn, and vaults pay fees to the YFI protocol. YFI YFI is the token for yearn. There are only 30,000 issued. So, you can not earn them, you can: 1) Stake them for governance rewards 2) place in a yYFI vauly to gain more FYI 3) Use them as long term Ventrue capital funds within a DAO (coming soon (tm) ). YFII, YVFV etc. Forks of the YFI with different tokens / fees. YAM, Sushi, YFII, etc. To be completed… Synthetix To be completed... Finally: This is not financial advice. There are multiple risks which get larger as more moving parts are added. Errors and omissions expected. Do you own research. Comments and corrections welcomed
https://preview.redd.it/al1gy9t9v9q51.png?width=424&format=png&auto=webp&s=b29a60402d30576a4fd95f592b392fae202026ca Hopefully any questions you have will be answered by the resources below, but if you have additional questions feel free to ask them in the comments. If you're quite technically-minded, the Zano whitepaper gives a thorough overview of Zano's design and its main features. So, what is Zano? In brief, Zano is a project started by the original developers of CryptoNote. Coins with market caps totalling well over a billion dollars (Monero, Haven, Loki and countless others) run upon the codebase they created. Zano is a continuation of their efforts to create the "perfect money", and brings a wealth of enhancements to their original CryptoNote code. Development happens at a lightning pace, as the Github activity shows, but Zano is still very much a work-in-progress. Let's cut right to it: Here's why you should pay attention to Zano over the next 12-18 months. Quoting from a recent update:
Anton Sokolov has recently joined the Zano team. ... For the last months Anton has been working on theoretical work dedicated to log-size ring signatures. These signatures theoretically allows for a logarithmic relationship between the number of decoys and the size/performance of transactions. This means that we can set mixins at a level from up to 1000, keeping the reasonable size and processing speed of transactions. This will take Zano’s privacy to a whole new level, and we believe this technology will turn out to be groundbreaking!
If successful, this scheme will make Zano the most private, powerful and performant CryptoNote implementation on the planet. Bar none. A quantum leap in privacy with a minimal increase in resource usage. And if there's one team capable of pulling it off, it's this one.
What else makes Zano special?
You mean aside from having "the Godfather of CryptoNote" as the project lead? ;) Actually, the calibre of the developers/researchers at Zano probably is the project's single greatest strength. Drawing on years of experience, they've made careful design choices, optimizing performance with an asynchronous core architecture, and flexibility and extensibility with a modular code structure. This means that the developers are able to build and iterate fast, refining features and adding new ones at a rate that makes bigger and better-funded teams look sluggish at best. Zano also has some unique features that set it apart from similar projects: Privacy Firstly, if you're familiar with CryptoNote you won't be surprised that Zano transactions are private. The perfect money is fungible, and therefore must be untraceable. Bitcoin, for the most part, does little to hide your transaction data from unscrupulous observers. With Zano, privacy is the default. The untraceability and unlinkability of Zano transactions come from its use of ring signatures and stealth addresses. What this means is that no outside observer is able to tell if two transactions were sent to the same address, and for each transaction there is a set of possible senders that make it impossible to determine who the real sender is. Hybrid PoW-PoS consensus mechanism Zano achieves an optimal level of security by utilizing both Proof of Work and Proof of Stake for consensus. By combining the two systems, it mitigates their individual vulnerabilities (see 51% attack and "nothing at stake" problem). For an attack on Zano to have even a remote chance of success the attacker would have to obtain not only a majority of hashing power, but also a majority of the coins involved in staking. The system and its design considerations are discussed at length in the whitepaper. Aliases Here's a stealth address: ZxDdULdxC7NRFYhCGdxkcTZoEGQoqvbZqcDHj5a7Gad8Y8wZKAGZZmVCUf9AvSPNMK68L8r8JfAfxP4z1GcFQVCS2Jb9wVzoe. I have a hard enough time remembering my phone number. Fortunately, Zano has an alias system that lets you register an address to a human-readable name. (@orsonj if you want to anonymously buy me a coffee) Multisig Multisignature (multisig) refers to requiring multiple keys to authorize a Zano transaction. It has a number of applications, such as dividing up responsibility for a single Zano wallet among multiple parties, or creating backups where loss of a single seed doesn't lead to loss of the wallet. Multisig and escrow are key components of the planned Decentralized Marketplace (see below), so consideration was given to each of them from the design stages. Thus Zano's multisig, rather than being tagged on at the wallet-level as an afterthought, is part of its its core architecture being incorporated at the protocol level. This base-layer integration means months won't be spent in the future on complicated refactoring efforts in order to integrate multisig into a codebase that wasn't designed for it. Plus, it makes it far easier for third-party developers to include multisig (implemented correctly) in any Zano wallets and applications they create in the future. (Double Deposit MAD) Escrow With Zano's escrow service you can create fully customizable p2p contracts that are designed to, once signed by participants, enforce adherence to their conditions in such a way that no trusted third-party escrow agent is required. https://preview.redd.it/jp4oghyhv9q51.png?width=1762&format=png&auto=webp&s=12a1e76f76f902ed328886283050e416db3838a5 The Particl project, aside from a couple of minor differences, uses an escrow scheme that works the same way, so I've borrowed the term they coined ("Double Deposit MAD Escrow") as I think it describes the scheme perfectly. The system requires participants to make additional deposits, which they will forfeit if there is any attempt to act in a way that breaches the terms of the contract. Full details can be found in the Escrow section of the whitepaper. The usefulness of multisig and the escrow system may not seem obvious at first, but as mentioned before they'll form the backbone of Zano's Decentralized Marketplace service (described in the next section).
What does the future hold for Zano?
The planned upgrade to Zano's privacy, mentioned at the start, is obviously one of the most exciting things the team is working on, but it's not the only thing. Zano Roadmap Decentralized Marketplace From the beginning, the Zano team's goal has been to create the perfect money. And money can't just be some vehicle for speculative investment, money must be used. To that end, the team have created a set of tools to make it as simple as possible for Zano to be integrated into eCommerce platforms. Zano's API’s and plugins are easy to use, allowing even those with very little coding experience to use them in their E-commerce-related ventures. The culmination of this effort will be a full Decentralized Anonymous Marketplace built on top of the Zano blockchain. Rather than being accessed via the wallet, it will act more as a service - Marketplace as a Service (MAAS) - for anyone who wishes to use it. The inclusion of a simple "snippet" of code into a website is all that's needed to become part a global decentralized, trustless and private E-commerce network. Atomic Swaps Just as Zano's marketplace will allow you to transact without needing to trust your counterparty, atomic swaps will let you to easily convert between Zano and other cyryptocurrencies without having to trust a third-party service such as a centralized exchange. On top of that, it will also lead to the way to Zano's inclusion in the many decentralized exchange (DEX) services that have emerged in recent years.
Where can I buy Zano?
Zano's currently listed on the following exchanges: https://coinmarketcap.com/currencies/zano/markets/ It goes without saying, neither I nor the Zano team work for any of the exchanges or can vouch for their reliability. Use at your own risk and never leave coins on a centralized exchange for longer than necessary. Your keys, your coins! If you have any old graphics cards lying around(both AMD & NVIDIA), then Zano is also mineable through its unique ProgPowZ algorithm. Here's a guide on how to get started. Once you have some Zano, you can safely store it in one of the desktop or mobile wallets (available for all major platforms).
How can I support Zano?
Zano has no marketing department, which is why this post has been written by some guy and not the "Chief Growth Engineer @ Zano Enterprises". The hard part is already done: there's a team of world class developers and researchers gathered here. But, at least at the current prices, the team's funds are enough to cover the cost of development and little more. So the job of publicizing the project falls to the community. If you have any experience in community building/growth hacking at another cryptocurrency or open source project, or if you're a Zano holder who would like to ensure the project's long-term success by helping to spread the word, then send me a pm. We need to get organized. Researchers and developers are also very welcome. Working at the cutting edge of mathematics and cryptography means Zano provides challenging and rewarding work for anyone in those fields. Please contact the project's Community Manager u/Jed_T if you're interested in joining the team. Social Links: Twitter Discord Server Telegram Group Medium blog I'll do my best to keep this post accurate and up to date. Message me please with any suggested improvements and leave any questions you have below. Welcome to the Zano community and the new decentralizedprivateeconomy!
Welcome to the 11th official ColossusXT AMA! It has been an exciting year so far as we move closer to the launch of the Colossus Grid, and it's been interesting to see how COVID19 is affecting the world and the industry. The commitment to ColossusXT has never been stronger as we navigate these uncertain times due to COVID19. I will briefly go over development and business activities and if you have any additional questions about anything mentioned please drop a question in this AMA. [DEV] As we move forward through Q3 the first thing you can expect is a mandatory wallet update in the coming weeks, this wallet update will allow you to convert your zCOLX back into COLX, along with some other notable features that we will dive into to discuss once the wallet is released. We're getting closer and closer to Armis release and the Colossus Grid release, which will prove to be an exciting time for the community to participate in testing and/or marketing activities. [BIZ] We recently submitted a Project Pitch regarding ColossusXT to the National Science Foundation and have been invited to submit a full proposal. Should our proposal be accepted by the National Science Foundation we will be awarded 256,000 dollars for additional ColossusXT development, and continue onto Phase 2 proposals which will open up additional opportunities for ColossusXT research partnerships and additional funding opportunities. https://preview.redd.it/gvypc52tjcm51.png?width=682&format=png&auto=webp&s=35af9143dea8f2294dc8c4c799810cee4add6e47 ----------------------------------------------------------------------------------------------------------------------------------------------------- This AMA will start on 10 September and end on 30 September. The team will review and answer your questions no later than 14 October. Before the AMA begins, everyone from the community can ask questions on this page and upvote/downvote according to your interest. Rules: Please do not reply to other user's questions until the team has answered. Try to be precise with your questions and be polite. Contest: One person who asks a question will be chosen to receive 100,000 ColossusXT (COLX) and a ColossusXT T-Shirt! https://preview.redd.it/cz6lixhzicm51.png?width=800&format=png&auto=webp&s=30ec43751a5556d11c5f26c3f7ab4a044494c73e Processing img imldoefxgkm51... ----------------------------------------------------------------------------------------------------------------------------------------------------- About ColossusXT (COLX): ColossusXT is an open-source, community-driven, environmentally conscious cryptocurrency, and an alternative to bitcoin that features better anonymity. It allows people to store and invest their wealth in a non-government-controlled currency and make almost instantaneous and completely anonymous transfers with close to zero fees. Colossuscoin V1 was founded as a long-standing, energy-efficient and environmentally friendly digital cryptocurrency and this concept is being continued. The question format can be seen below: ----------------------------------------------------------- Q: What is the Colossus Grid? ----------------------------------------------------------- A: ColossusXT is an anonymous blockchain through obfuscation, along with the utilization of Armis (I2P). These features will protect end-user privacy as ColossusXT evolves into the Colossus Grid. The Colossus Grid will connect devices in a peer-to-peer network enabling users and applications to rent the cycles and storage of other users’ machines. This marketplace of computing power and storage will exclusively run on COLX currency. These resources will be used to complete tasks requiring any amount of computation time and capacity, or allow end-users to store data anonymously across the COLX decentralized network. Today, such resources are supplied by entities such as centralized cloud providers which are constrained by closed networks, proprietary payment systems, and hard-coded provisioning operations. Any user ranging from a single PC owner to a large data center can share resources through Colossus Grid and get paid in COLX for their contributions. Renters of computing power or storage space, on the other hand, may do so at low prices compared to the usual market prices because they are only using resources that already exist. ----------------------------------------------------------------------------------------------------------- Q: Why does your blockchain exist and what makes it unique? ----------------------------------------------------------------------------------------------------------- A: ColossusXT exists to provide an energy-efficient method of supercomputing. ColossusXT is unique in many ways. Some coins have one layer of privacy. ColossusXT and the Colossus Grid will utilize two layers of privacy through obfuscation, and Armis (I2P) these will protect users of the Colossus Grid as they utilize grid resources. There are also Masternodes and Proof of Stake which both can contribute to reducing 51% attacks, along with instant transactions and zero-fee transactions. This protection is paramount as ColossusXT evolves into the Colossus Grid. Grid Computing will have a pivotal role throughout the world, and what this means is that users will begin to experience the Internet as a seamless computational universe. Software applications, databases, sensors, video, and audio streams-all will be reborn as services that live in cyberspace, assembling, and reassembling themselves on the fly to meet the tasks at hand. Once plugged into the grid, a desktop machine will draw computational horsepower from all the other computers on the grid. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ Important Information: Website Whitepaper Roadmap Business Plan Wiki Governance Partners GitHub What is ColossusXT? (YouTube) --------------------------------------------------------------------------------- Follow ColossusXT on: Twitter Facebook Telegram Discord Forums --------------------------------------------------------------------------------- Interested in joining the ColossusXT team? Contribute to an Idea! --------------------------------------------------------------------------------- AMA History: 2018 Q12018 Q22018 Q32018 Q4 2019 Q12019 Q22019 Q32019 Q4 2020 Q12020 Q2
Complying to a scammer, but not quite the way he wanted me to!
(To any moderator, I have anonymitised everything and made sure that it is according to rules of this subreddit,I wanna share this story so please let me know should further editing be required ! please Consider this person has likely stolen thousands and thousands of innocent people so i wanna spread awareness! So the other day (actually my birthday too :)) I found this account on IG, I saved him as Scumm in my phone but he claims to be an "Alex", hit him up if you wanna get rich it is a fiest. So i hit him up and be like: [19:00, 23/09/2020] OP: Hello sir I am Tom, I read a lot of things about Forex and crypto and your page in particular and just inherited some money from a relative , I heard so many good things I thought you might help me invest some of that money so it is not lost? Kindly [19:08, 23/09/2020] Scumm: Ok [19:08, 23/09/2020] Scumm: Welcome [19:08, 23/09/2020] Scumm: Where are you from? [19:09, 23/09/2020] OP: Germany [19:09, 23/09/2020] Scumm: Ok Tom [19:09, 23/09/2020] Scumm: We specialise on Stock And cryptocurrency trading, with the sole aim of making awesome profit from the rapid changes in price of the assets and currencies we trade. We are group of professional market analysts that studies the market picking the best assets to invest on, and as well the best cryptocurrency pairs to trade on. We have mastered risk management and as well best possible strategy to maximize our clients Profits [19:10, 23/09/2020] Scumm: With the minimum investment of 1 BTC you can make 3.8BTC in a month [19:11, 23/09/2020] Scumm: If I may ask do you have a Bitcoin Wallet address? Now you can see how this is a scam and no one should ever follow such ludicrous claims! 380% in a month, if sb knew how, they wouldnt share that ,not in this world, not in this century... So i amlike: [19:15, 23/09/2020] OP: I'd be willing to invest even 2 bitcoin but I would need your company credentials and iban to send money to [19:19, 23/09/2020] Scumm: I can only provide you a US account to make payment [19:19, 23/09/2020] Scumm: This if gonna be possible [19:19, 23/09/2020] OP: Hmm I'll see maybe that works [19:19, 23/09/2020] OP: Easiest would be IBAN [19:19, 23/09/2020] OP: Your company does not have any European bank accounts? [19:19, 23/09/2020] Scumm: IBAN [19:20, 23/09/2020] Scumm: Mate I always follow procedures so I have not accept Transfer for deposit [19:20, 23/09/2020] Scumm: But I will see to that ok You see where this is going I want some info and make him believe he or one of his mules at least gets sweet sweet cash. NOT SO FAST [20:49, 23/09/2020] Scumm: I’m waiting on my Colleague to forward details to me now [20:49, 23/09/2020] Scumm: Ok so you are not sending today? [20:49, 23/09/2020] OP: Thank u so much [20:49, 23/09/2020] OP: I can try but I have to call bank [20:49, 23/09/2020] OP: For over 1000 [20:50, 23/09/2020] Scumm: Ok ok mate [20:50, 23/09/2020] Scumm: Good [21:08, 23/09/2020] Scumm: XXXXXX XXXXXXXX XXX Bank Account number: 8XXXXX0 Sort code: XXXX IBAN: GBXXXXXXXXXXXXXXXXXX [21:08, 23/09/2020] Scumm: Are you there Mate? [22:43, 23/09/2020] OP: Yes hi thank u so much [22:43, 23/09/2020] OP: Let me chdck [22:46, 23/09/2020] Scumm: Ok mate [22:53, 23/09/2020] Scumm: Are you trying to send it now mate? Spinning it furtherly: I just tell some yada yada about how it takes time and a signature since its such a large sum! [11:46, 24/09/2020] OP: Do you have license [11:46, 24/09/2020] Scumm: 25BTC too small for even my students 😂 /\SURE buddy! */* [11:46, 24/09/2020] OP: NASAA 67? [11:47, 24/09/2020] OP: For financial advisor [11:50, 24/09/2020] OP: This [11:50, 24/09/2020] OP: Sorry was upside down [11:50, 24/09/2020] OP: ? [11:51, 24/09/2020] Scumm: I’m an independent expert trader and portfolio management in crypto market [11:52, 24/09/2020] Scumm: License only met to give out from head of Admin [11:52, 24/09/2020] OP: Ah kk [11:52, 24/09/2020] Scumm: Yes mate [11:52, 24/09/2020] OP: But normally 67 and 68 is required [11:52, 24/09/2020] OP: For normal managers? [11:53, 24/09/2020] Scumm: Yes [11:55, 24/09/2020] Scumm: have no worries mate [11:55, 24/09/2020] Scumm: 100% Now this is quite interesting NASAA 65 and 66 are licenses needed to be an account manager in the US so if he was he should know that i just made up 67 and 68! [19:20, 24/09/2020] OP: Ill makethe first payment asap, but i cant make my bank go faster sorry [19:21, 24/09/2020] OP: howeverone thing: [19:21, 24/09/2020] OP: most of the moneyigotis still in USD isit possible u said invest and send to USbank too? [19:21, 24/09/2020] OP: for 20kUSD and above [19:22, 24/09/2020] OP: its hard for me topurhcase that much bitcoin on my own right now [19:22, 24/09/2020] OP: but i see that i can trust you! [19:22, 24/09/2020] Scumm: Mate ASAP you said you make payment today and you didn’t so I don’t know if you even sure about this yet [19:23, 24/09/2020] Scumm: I don’t get you please [19:23, 24/09/2020] Scumm: You mean you want your profit sent to a US bank? [19:24, 24/09/2020] Scumm: You have no worries about that mate [19:24, 24/09/2020] OP: I am [19:24, 24/09/2020] OP: I signed the paper mate I am so happy [19:24, 24/09/2020] OP: That's all they need I told u [19:24, 24/09/2020] OP: To make payments international so large [19:24, 24/09/2020] Scumm: Yeah you said that mate [19:24, 24/09/2020] OP: I am beeing honest as well [19:24, 24/09/2020] OP: So I sent it back by post Today [19:24, 24/09/2020] Scumm: Ok mate [19:25, 24/09/2020] OP: But I am not at my banks city so post takes 1-2 days and then they can release [19:25, 24/09/2020] OP: Sorry to keep u waiting [19:25, 24/09/2020] Scumm: Ok mate [19:25, 24/09/2020] Scumm: Oh I see [19:25, 24/09/2020] OP: No what I meant: if I wanna start with more can j invest 20k USD too? I know u usually don't do and j ask very weird questions but I meant [19:25, 24/09/2020] OP: I am not always home have pc etc but I am in contact with u and my bank [19:26, 24/09/2020] OP: So is it possible? Otherwise I have to convert USD to euro or GDP [19:26, 24/09/2020] OP: 40k is sill in USD I have [19:26, 24/09/2020] OP: That would be even crazier profits 🤑🤑🤑 [19:27, 24/09/2020] Scumm: Now I’m understanding SO NOW HE IS UNDERSTANDING good good, and almost ready to screw one of his US mules too: [21:00, 24/09/2020] Scumm: Ok mate [21:04, 24/09/2020] Scumm: Can they send from US to the IBAN account? [21:05, 24/09/2020] OGOP: Hm I don't know it's a bit tricky BC I'm no us citizen [21:05, 24/09/2020] OGOP: I have one iban authorised to cash all out in euro [21:05, 24/09/2020] Scumm: Ok ok mate [21:06, 24/09/2020] OP: And US I think right now [21:06, 24/09/2020] Scumm: Ok mate please hold [21:10, 24/09/2020] OP Sure man [21:11, 24/09/2020] OP: Uff such a huge step for me [21:11, 24/09/2020] OP: I hope u do it real good 🤑🤑🤑 [21:12, 24/09/2020] OP Do you have customers in US too? [21:12, 24/09/2020] Scumm: Bank name: Teachers Federal Credit Union Bank address: XXXXXXX Account holder: XXXXXXXXXXXXXX Account Holders address: XXXXXXXXXXXXXXXXX XXXX Routing Number: XXXXXXX Account number:XXXXXXXXXX [21:12, 24/09/2020] Scumm: Sure mate //SO HE CLAIMS TO HAVE SCAMMED US CITIZENS! [21:12, 24/09/2020] OP: Nice [21:12, 24/09/2020] Scumm: Please make sure you send confirmation immediately So finally I did not send him payment proof,I sent him a spoofed link to fetch his IP with a link to "payment proof" and got his IP and location (cant showr a real link bc it has my IP in it...) And was like " oh hey how is the whether in Irele, Nigeria??" Needless to say he blocked me straight away after I called him a disgraceful sc*m but hey..... I still called the corresponding banks, the UK Fraud Action and the FBI just to make sure and shared all of the details without any editting :) Have fun "mate"! If they can freeze only 1 $ and return it to a likely victim, I am more then happy Cheers dont get scammed! TL/DR: Scammed a Nigerian scammer into sending me real accounts, names and details in UK and US (mules) to forward to the police and may or may not have donated 500 to charity.
Best places to trade your Ripple/XRP (longer read)
In the past when you heard the word ‘cryptocurrency’, the first thing that came to everyone’s minds was Bitcoin. To some, this is still the case; they believe that Bitcoin is the cryptocurrency and the vice versa to also be true. Of course, the statement is correct in one way; Bitcoin is a cryptocurrency, but cryptocurrency is not made up of only Bitcoin but a host of other currencies. One of these currencies is Ripple. When it comes to the top five cryptocurrencies with the highest capitalization, Ripple needs no introduction as it has managed to secure a position of being the third most traded cryptocurrency around the world. Perhaps this is due to the fact that Ripple is the only cryptocurrency with a backing from traditional legacy financial institutions. In addition, the coin has been integrated into the operation of thousands of small businesses around the world. At this juncture, it is only fair that you learn how to be a part of this great innovation. Thankfully, that is what this guide is all about, showing you some of the best trading platforms for Ripple. There are numerous exchanges that offer decent exchange rates and well-matched trading pairs, but I’ll only narrow down to some of our best picks to help you get started fast.
What is Ripple (XRP)?
Ripple is a cryptocurrency, a currency exchange, a real-time gross settlement payment system, and a remittance network powered by Ripple. As I mentioned before, this is the third most capitalized cryptocurrency asset after Bitcoin and Ethereum. XRP allows enterprises such as banks and other financial service providers to offer their clients a reliable option to source for liquidity for cross-border currency transactions. Ripple is a distributed, open-source platform that seeks to capitalize on the weaknesses of the conventional money payment systems such as credit and debit cards, PayPal, bank transfers, among others. According to Ripple, these payment systems expose users to a lot of transaction delays and restrict the fluidity of currencies. The platform aims at replacing traditional payment systems through offering a faster, safer, and more convenient alternative for making payments. Both the platform’s exchange and tokens are called Ripple, and their mantra states one frictionless experience to send money globally.
Where Can I Trade XRP?
Most exchanges that trade Ripple are limited to crypto-to-crypto transactions. This means that you can only trade Ripple with another cryptocurrency and not fiat currencies such as the euro or the dollar. You’ll need to acquire the currency you wish to trade with XRP on a platform that accepts fiat, and once that happens, you can proceed to trade the two currencies. There are several great platforms that offer XRP trading; below are just a few:
Buying XRP on Binance
Buying XRP on Bittrex
Just like on Binance, you’ll need to create an account on Bittrex to get started. The process is pretty much straightforward, only requiring you to sign up using your email address and password. Once you’re done signing up, click on the wallet tab. You will be taken to a page where you can view all the deposit addresses of the cryptocurrencies on the Bittrex platform. You can then choose the currency to use to purchase XRP, after which, you will be required to type in the code of the currency you will be using to purchase Ripple. If you’re using Ethereum, you can type in the search bar “ETH” and then click on the green arrow to reveal the deposit address. In case you will be sending the funds from a different exchange, you’ll need to paste the address to that platform. Next, you’ll need to send funds to your Bittrex account. Bittrex permits payments using both fiat and cryptocurrencies. So, depending on what you will be using, send money to your online wallet and proceed to trade it with Ripple.
Buying XRP on Changelly
Changelly is another Ripple exchange that requires you to use either Bitcoin or Ethereum to acquire XRP. The exchange doesn’t have an inbuilt wallet, so you’ll need to store your funds on a separate hardware or software wallet. You can pretty much use any type of wallet, but the most secure ones are the hardware ones as they store your coins in an offline cold storage area. Ripple prefers not to have many unutilized accounts being set up on its platform; this is why you’ll need to have a minimum of 20 XRP in your account for you to get started. However, if your first transaction will be more than 20 XRP, then you’re all set. Once you have a wallet ready for your Ripple, head to the Changelly site and click on “input currency”. Here, you will be able to enter the currency you wish to trade for Ripple. You can basically pick and use any coin listed on the site, but it is highly recommended that you use either Bitcoin or Ethereum due to their high liquidity. The output section will have Ripple, which is the currency you wish to receive. The next step will require you to key in your XRP address, which is your Ripple address and the destination tag, which is a description of the transaction. You can now proceed to trade your chosen coins for Ripple. The transaction shouldn’t take long, and you will be able to receive the coins in your Ripple wallet.
Cryptmixer is a platform that assists users to swap XRP with 5 other assets freely. The interface lets users convert assets directly from one’s wallet, without having to create an account or register. Besides, the service helps to compare different providers and find a suitable deal for handling Ripple transactions securely, rapidly, and at the best rate. The process of using Cryptmixer is quite simple:
Go to the main page, choose the currency you’d like to swap, and enter the amount.
Choose XRP to receive.
Review the amount to see how much you will receive. Cryptmixer will automatically find the best rates for your trade.
Then, enter the wallet address that you wish to use.
Send in the deposit to the generated wallet address and wait for the transaction to be processed.
What makes Cryptmixer a great fit is that it provides a very simple layout and quick process so it’s not chore when you trade your crypto. The support line also takes on the job of solving the cases by cooperating with users with top priority. To learn more on how to exchange XRP at the best rate check https://cryptmixer.com
Buying XRP on Coinmama
Coinmama is a cryptocurrency exchange that has been around for quite a while now. The Coinmama team has been adding more coins on their platform over time to be able to provide its users with a wider variety of trading pairs. More recently, the platform included Ripple on its platform. However, Coinmama does not allow US-based users to purchase Ripple due to some stringent laws and regulations surrounding the coin. But for non-US users, you can proceed to create your account on the platform and locate Ripple among the listed assets. Once you’ve created your account, navigate your way to the area with the list of assets. Select one of the provided packages and proceed. You’re required to have a crypto wallet prior to making any purchase on the platform, so be sure to have a valid wallet address before completing the purchase. Once that’s done, purchase your Ripple coins and they will be delivered to your wallet.
Storing Your Ripple Coins
Online storages are never safe for cryptocurrency assets. Individuals have woken up to all sort of horrific sceneries on their accounts that left them bankrupt with no one to turn to. One of the most important concepts you need to grasp about online businesses is the security of your transactions. Cryptocurrency burglars are everywhere and are getting smarter by the day; this means that traditional ways of guaranteeing the security of your online assets are no longer effective. Most exchanges have top-notch security standards, but the safety of your cryptos begins with you. A great way of ensuring that your funds are secure is by getting an offline storage device for your coins. I’ve seen great reviews on two hardware wallets that I highly recommend; these are the Ledger Nano S and Trezor wallets. After getting the wallet of your choice, keep your personal data such as passwords and secret words private; this will ensure that no one else gains access to your wallet even if you misplace it. Writing your password or PIN on open places or somewhere in your phone might not be a good idea; yes, it may be convenient for you, but it will be for the burglar too.
What method of purchasing XRP is considered to be the best?
The most secure and common way of acquiring Ripple is through buying Ethereum or Bitcoin from Coinbase or Coinmama, then transferring the same to Cryptmixer to use to exchange with Ripple. This is because Ripple is currently not available for purchase by using fiat currencies.
What is the best trading platform for Ripple?
Ripple is available on a decent number of exchanges including Binance, Coinmama, Coinbase, Bittrex, Cryptmixer, and more. However, among the stated ones, I have found Cryptmixer to be more secure and easier to use while it also offers the best trading rates and fees.
The Bottom Line
As we conclude, you now have some of the best choices when it comes to the exchange to acquire Ripple coins. After buying your XRP coins, store them offline on a secure device due to the risk of being faced by threats such as hacking or system failures. If you’re serious about making cryptocurrency your investment vehicle in the long run, consider investing in a more lasting security solution such as a hardware storage device. You may not get them for a few pennies, but trust me when I say they are worth every last dime you spend on them.
Why we need to think more carefully about what money is and how it works
Most of us have overlooked a fundamental problem that is currently causing an insurmountable obstacle to building a fairer and more sustainable world. We are very familiar with the thing in question, but its problematic nature has been hidden from us by a powerful illusion. We think the problem is capitalism, but capitalism is just the logical outcome of aggregate human decisions about how to manage money. The fundamental problem is money itself, or more specifically general purpose money and the international free market which allows you to sell a chunk of rainforest and use the money to buy a soft drink factory. (You can use the same sort of money to sell anything and buy anything, anywhere in the world, and until recently there was no alternative at all. Bitcoin is now an alternative, but is not quite what we are looking for.) The illusion is that because market prices are free, and nobody is forced into a transaction, those prices must be fair – that the exchange is equitable. The truth is that the way the general money globalised free market system works means that even though the prices are freely determined, there is still an unequal flow of natural resources from poor parts of the world to rich parts. This means the poor parts will always remain poor, and resources will continue to accumulate in the large, unsustainable cities in rich countries. In other words, unless we re-invent money, we cannot overturn capitalism, and that means we can't build a sustainable civilisation. Why does this matter? What use is it realising that general purpose money is at the root of our problems when we know that the rich and powerful people who run this world will do everything in their power to prevent the existing world system being reformed? They aren't just going to agree to get rid of general purpose money and economic globalisation. It's like asking them to stop pursuing growth: they can't even imagine how to do it, and don't want to. So how does this offer us a way forwards? Answer: because the two things in question – our monetary system and globalisation – look like being among the first casualties of collapse. Globalisation is already going into reverse (see brexit, Trump's protectionism) and our fiat money system is heading towards a debt/inflation implosion. It looks highly likely that the scenario going forwards will be of increasing monetary and economic chaos. Fiat money systems have collapsed many times before, but never a global system of fiat currencies floating against each other. But regardless of how may fiat currencies collapse, or how high the price of gold goes in dollars, it is not clear what the system would be replaced with. Can we just go back to the gold standard? It is possible, but people will be desperately looking for other solutions, and the people in power might also be getting desperate. So what could replace it? What is needed is a new sort of complementary money system which both (a) addresses the immediate economic problems of people suffering from symptoms of economic and general collapse and (b) provides a long-term framework around which a new sort of economy can emerge – an economy which is adapted to deglobalisation and degrowth. I have been searching for answers to this question for some time, and have now found what I was looking for. It is explained in this recently published academic book, and this paper by the same professor of economic anthropology (Alf Hornborg). The answer is the creation of a new sort of money, but it is critically important exactly how this is done. Local currencies like the Bristol Pound do not challenge globalisation. What we need is a new sort of national currency. This currency would be issued as a UBI, but only usable to buy products and services originating within an adjustable radius. This would enable a new economy to emerge. It actually resists globalisation and promotes the growth of a new sort of economy where sustainability is built on local resources and local economic activity. It would also reverse the trend of population moving from poor rural areas and towns, to cities. It would revitalise the “left behind” parts of the western world, and put the brakes on the relentless flow of natural resources and “embodied cheap labour” from the poor parts of the world to the rich parts. It would set the whole system moving towards a more sustainable and fairer state. This may sound unrealistic, but please give it a chance. I believe it offers a way forwards that can (a) unite disparate factions trying to provoke systemic change, including eco-marxists, greens, posthumanists and anti-globalist supporters of “populist nationalism”. The only people who really stand to lose are the supporters of global big business and the 1%. (b) offers a realistic alternative to a money system heading towards collapse, and to which currently no other realistic alternative is being proposed. In other words, this offers a realistic way forwards not just right now but through much of the early stages of collapse. It is likely to become both politically and economically viable within the forseeable future. It does, though, require some elements of the left to abandon its globalist ideals. It will have to embrace a new sort of nationalism. And it will require various groups who are doing very well out of the current economic system to realise that it is doomed. Here is an FAQ (from the paper).
What is a complementary currency? It is a form of money that can be used alongside regular money. What is the fundamental goal of this proposal? The two most fundamental goals motivating this proposal are to insulate local human subsistence and livelihood from the vicissitudes of national and international economic cycles and financial speculation, and to provide tangible and attractive incentives for people to live and consume more sustainably. It also seeks to provide authorities with a means to employ social security expenditures to channel consumption in sustainable directions and encourage economic diversity and community resilience at the local level. Why should the state administrate the reform? The nation is currently the most encompassing political entity capable of administrating an economic reform of this nature. Ideally it is also subservient to the democratic decisions of its population. The current proposal is envisaged as an option for European nations, but would seem equally advantageous for countries anywhere. If successfully implemented within a particular nation or set of nations, the system can be expected to be emulated by others. Whereas earlier experiments with alternative currencies have generally been local, bottom-up initiatives, a state-supported program offers advantages for long-term success. Rather than an informal, marginal movement connected to particular identities and transient social networks, persisting only as long as the enthusiasm of its founders, the complementary currency advocated here is formalized, efficacious, and lastingly fundamental to everyone's economy. How is local use defined and monitored? The complementary currency (CC) can only be used to purchase goods and services that are produced within a given geographical radius of the point of purchase. This radius can be defined in terms of kilometers of transport, and it can vary between different nations and regions depending on circumstances. A fairly simple way of distinguishing local from non-local commodities would be to label them according to transport distance, much as is currently done regarding, for instance, organic production methods or "fair trade." Such transport certification would of course imply different labelling in different locales. How is the complementary currency distributed? A practical way of organizing distribution would be to provide each citizen with a plastic card which is electronically charged each month with the sum of CC allotted to him or her. Who are included in the category of citizens? A monthly CC is provided to all inhabitants of a nation who have received official residence permits. What does basic income mean? Basic income is distributed without any requirements or duties to be fulfilled by the recipients. The sum of CC paid to an individual each month can be determined in relation to the currency's purchasing power and to the individual's age. The guiding principle should be that the sum provided to each adult should be sufficient to enable basic existence, and that the sum provided for each child should correspond to the additional household expenses it represents. Why would people want to use their CC rather than regular money? As the sum of CC provided each month would correspond to purchases representing a claim on his or her regular budget, the basic income would liberate a part of each person's regular income and thus amount to substantial purchasing power, albeit restricted only to local purchases. The basic income in CC would reduce a person's dependence on wage labor and the risks currently associated with unemployment. It would encourage social cooperation and a vitalization of community. Why would businesses want to accept payment in CC? Business entrepreneurs can be expected to respond rapidly to the radically expanded demand for local products and services, which would provide opportunities for a diverse range of local niche markets. Whether they receive all or only a part of their income in the form of CC, they can choose to use some of it to purchase tax-free local labor or other inputs, and to request to have some of it converted by the authorities to regular currency (see next point). How is conversion of CC into regular currency organized? Entrepreneurs would be granted the right to convert some of their CC into regular currency at exchange rates set by the authorities.The exchange rate between the two currencies can be calibrated so as to compensate the authorities for loss of tax revenue and to balance the in- and outflows of CC to the state. The rate would thus amount to a tool for determining the extent to which the CC is recirculated in the local economy, or returned to the state. This is important in order to avoid inflation in the CC sector. Would there be interest on sums of CC owned or loaned? There would be no interest accruing on a sum of CC, whether a surplus accumulating in an account or a loan extended. How would saving and loaning of CC be organized? The formal granting of credit in CC would be managed by state authorities and follow the principle of full reserve banking, so that quantities of CC loaned would never exceed the quantities saved by the population as a whole. Would the circulation of CC be subjected to taxation? No. Why would authorities want to encourage tax-free local economies? Given the beneficial social and ecological consequences of this reform, it is assumed that nation states will represent the general interests of their electorates and thus promote it. Particularly in a situation with rising fiscal deficits, unemployment, health care, and social security expenditures, the proposed reform would alleviate financial pressure on governments. It would also reduce the rising costs of transport infrastructure, environmental protection, carbon offsetting, and climate change adaptation. In short, the rising costs and diminishing returns on current strategies for economic growth can be expected to encourage politicians to consider proposals such as this, as a means of avoiding escalating debt or even bankruptcy. How would the state's expenditures in CC be financed? As suggested above, much of these expenditures would be balanced by the reduced costs for social security, health care, transport infrastructure, environmental protection, carbon offsetting, and climate change adaptation. As these savings may take time to materialize, however, states can choose to make a proportion of their social security payments (pensions, unemployment insurance, family allowance, etc.) in the form of CC. As between a third and half of some nations' annual budgets are committed to social security, this represents a significant option for financing the reform, requiring no corresponding tax levies. What are the differences between this CC and the many experiments with local currencies? This proposal should not be confused with the notion, or with the practical operation, of local currencies, as it does not imply different currencies in different locales but one national,complementary currency for local use. Nor is it locally initiated and promoted in opposition to theregular currency, but centrally endorsed and administrated as an accepted complement to it. Most importantly, the alternative currency can only be used to purchase products and services originating from within a given geographical range, a restriction which is not implemented in experiments with Local Exchange Trading Systems (LETS). Finally, the CC is provided as a basic income to all residents of a nation, rather than only earned in proportion to the extent to which a person has made him- or herself useful in the local economy. What would the ecological benefits be? The reform would radically reduce the demand for long-distance transport, the production of greenhouse gas emissions, consumption of energy and materials, and losses of foodstuffs through overproduction, storage, and transport. It would increase recycling of nutrients and packaging materials, which means decreasing leakage of nutrients and less garbage. It would reduce agricultural intensification, increase biodiversity, and decrease ecological degradation and vulnerability. What would the societal benefits be? The reform would increase local cooperation, decrease social marginalization and addiction problems, provide more physical exercise, improve psycho-social and physical health, and increase food security and general community resilience. It would decrease the number of traffic accidents, provide fresher and healthier food with less preservatives, and improved contact between producers and consumers. What would the long-term consequences be for the economy? The reform would no doubt generate radical transformations of the economy, as is precisely the intention. There would be a significant shift of dominance from transnational corporations founded on financial speculation and trade in industrially produced foodstuffs, fuels, and other internationally transported goods to locally diverse producers and services geared to sustainable livelihoods. This would be a democratic consequence of consumer power, rather than of legislation. Through a relatively simple transformation of the conditions for market rationality, governments can encourage new and more sustainable patterns of consumer behavior. In contrast to much of the drastic and often traumatic economic change of the past two centuries, these changes would be democratic and sustainable and would improve local and national resilience. Why should society want to encourage people to refrain from formal employment? It is increasingly recognized that full or high employment cannot be a goal in itself, particularly if it implies escalating environmental degradation and energy and material throughput. Well-founded calls are thus currently made for degrowth, i.e. a reduction in the rate of production of goods and services that are conventionally quantified by economists as constitutive of GDP. Whether formal unemployment is the result of financial decline, technological development, or intentional policy for sustainability, no modern nation can be expected to leave its citizens economically unsupported. To subsist on basic income is undoubtedly more edifying than receiving unemployment insurance; the CC system encourages useful community cooperation and creative activities rather than destructive behavior that may damage a person's health. Why should people receive an income without working? As observed above, modern nations will provide for their citizens whether they are formally employed or not. The incentive to find employment should ideally not be propelled only by economic imperatives, but more by the desire to maintain a given identity and to contribute creatively to society. Personal liberty would be enhanced by a reform which makes it possible for people to choose to spend (some of) their time on creative activities that are not remunerated on the formal market, and to accept the tradeoff implied by a somewhat lower economic standard. People can also be expected to devote a greater proportion of their time to community cooperation, earning additional CC, which means that they will contribute more to society – and experience less marginalization – than the currently unemployed. Would savings in CC be inheritable? No. How would transport distances of products and services be controlled? It is reasonable to expect the authorities to establish a special agency for monitoring and controlling transport distances. It seems unlikely that entrepreneurs would attempt to cheat the system by presenting distantly produced goods as locally produced, as we can expect income in regular currency generally to be preferable to income in CC. Such attempts would also entail transport costs which should make the cargo less competitive in relation to genuinely local produce, suggesting that the logic of local market mechanisms would by and large obviate the problem. How would differences in local conditions (such as climate, soils, and urbanism) be dealt with?It is unavoidable that there would be significant variation between different locales in terms of the conditions for producing different kinds of goods. This means that relative local prices in CC for agiven product can be expected to vary from place to place. This may in turn mean that consumption patterns will vary somewhat between locales, which is predictable and not necessarily a problem. Generally speaking, a localization of resource flows can be expected to result in a more diverse pattern of calibration to local resource endowments, as in premodern contexts. The proposed system allows for considerable flexibility in terms of the geographical definition of what is categorized as local, depending on such conditions. In a fertile agricultural region, the radius for local produce may be defined, for instance, as 20 km, whereas in a less fertile or urban area, it may be 50 km. People living in urban centers are faced with a particular challenge. The reform would encourage an increased production of foodstuffs within and in the vicinity of urban areas, which in the long run may also affect urban planning. People might also choose to move to the countryside, where the range of subsistence goods that can be purchased with CC will tend to be greater. In the long run, the reform can be expected to encourage a better fit between the distribution of resources (such as agricultural land) and demography. This is fully in line with the intention of reducing long-distance transports of necessities. What would the consequences be if people converted resources from one currency sphere into products or services sold in another? It seems unfeasible to monitor and regulate the use of distant imports (such as machinery and fuels) in producing produce for local markets, but as production for local markets is remunerated in CC, this should constitute a disincentive to invest regular money in such production processes. Production for local consumption can thus be expected to rely mostly – and increasingly – on local labor and other resource inputs.
Earning Passive Income with Crypto Staking (Legit!)
Okay. So, whether you are new or have been with the bitcoin community for a while, you might not have heard of cryptocurrency staking. Madali lang sya, promise. I will share my experience at the end of this post, pero ano nga ba ang Staking? [SKIP THIS PORTION AND GO TO "HOW TO?" IF YOU DON'T WANT TO BE BORED WITH HISTORY] Compared to bitcoin mining, na sobrang hirap na kasi kailangan mo ng magandang CPU/GPU para lang magka-pera ka. Hindi na sya profittable, kasi malakas sya sa kuryente at bibili ka pa ng mga hardware. Mas eco-friendly ang Crypto Staking. Para syang investment, actually. Hahawak ka lang ng pera sa wallet mo. Mas malaki ang laman ng wallet mo, mas malaki din kita mo. Simple, right? Bakit? Let me introduce you to altcoins. Ang altcoins ay mga cryptocurrency na hindi bitcoin. Example ng mga altcoins ay Ethereum, Litecoin, Dogecoin, and marami pa sila. May mga altcoins na Proof-of-Work (POW). Meaning, kailangan mo talaga ng magandang hardware para maka-mine ka ng bagong coins. On the other hand, may mga Proof-of-Stake (POS) naman na altcoins. Sa mga POS na altcoins, hindi mo kailangan ng napakagandang gaming computer katulad ni Alodia. Ang need mo lang is magkalaman ang wallet mo, at gamit ang balance sa waller, is magva-validate ng mga bagong altcoins. Hindi na ako mag-eexplain pa dahil baka ma bored kayo, so check nyo nalang tong article na to para mas maintindihan nyo: https://www.investopedia.com/terms/p/proof-stake-pos.asp#:~:text=Proof%20of%20Stake%20(PoS)%20concept,power%20he%20or%20she%20has%20concept,power%20he%20or%20she%20has). --------------------------------------------- How to? So paano nga tayo kikita ng passive income dito? Para syang interest - gagamitin ang balance nyo para makagawa ng bagong altcoins. In exchange, may makukuha ka rin sa mga bagong na-validate. Para sayng interest sya bankgo, mas malaki hawak mo, mas malaki din kita mong interest. I won't beat around the bush any longer. Here's how you can start: Ref|Non-Ref Use either of the link above to register to Coinstake.in. Bale, ibibgay nating ang "staking rights" sa kanila. Sila na ang bahala mag-handle ng mga complicated na bahay. Ang gagawin lang natin, is magkaroon lang kayo ng balance sa wallet, and wait. OPTIONAL po ang pag deposit ng pera, OPTIONAL din ang pag-refer. Makaka income pa rin kayo kahit wala kayong ilabas sa bulsa nyo. But of course, more the merrier, which I will share later.
Register using the link above. You can use my referral link, or you can just register normally.
Pag naka-register kana at naka-login na, punta kayo ng faucets. Makakakuha kayo ng libreng altcoins every 60 minutes.
Wait and relax. Every couple hours, is magkaka "stake" or magkakakita si Coinstake. Then, magdi-distribute lang sila ng kita sa mga may balance sa particulat altcoin na yun sa website.
Madali lang, diba? So ngayon, etong altcoins na nakukuha nyo is pwede nyong i-exchange sa mga trading websites para magka BTC kayo. Then, i-withdraw nyo lang sa Coins.ph nyo na account. --------------------------------------------- Personal experience Hindi ko na-discover to actually. May nag-suggest lang sa akin sa Coinpot na subreddit. For the first few days, nagtsaga lang ako sa faucets ng Coinstake. Then, I also spent time on other faucet sites and app. Nag-farm ako ng Dogecoins. Nung naka-ipon na, nag-transfer ako sa Bololex.com. 2 Altcoins ang available sa Bololex - Tokemon (TKM) and Ratcoins (RAT). So, inexchange ko lahat ng Dogecoins ko evenly to Tokemon and Ratcoinsm then inkagay ko sa Coinstake. Siguro nakabili ako ng mga 600,000 na Tokemon, and mga 1,000,000 ng Ratcoin. Ayun, so naghintay lang ako ng 2 days, habang nagcocollect ako sa faucet. Ang TKM ko ay naging 640,000 and RAT ko naman is naging 1,070,000! Not bad for not doing anything. Sit back and relax ako, and may kita ako. Wow! So now I invested P400 lang, and just after 4 days I manage to get approximately 0.00121647 BTC (Sa coinstake kasi, on the upper right corner, it shows an estimates value in BTC). In today value, 784.89 pesos po sya. Screenshot Proof:
FYI, nag start pala ako mid-day ng October 12. So medyo bago rin ako, but I can personally attest na maganda tong website na to. --------------------------------------------- Recommendations on how to cash out Sobrang laki ng transaction fee pag nag cashout ka using BTC. Kung magca-cashout kayo, here's what I recommend.
Convert nyo lahat ng Altcoins nyo into other altcoins. I recommend any of the following: Litecoin, Dogecoin, Bitcoin Cash, Ethereum.
Pagkalagay nyo sa Faucetpay, i-convert nto lahat to just one currency. I recommend namam yung mga sinusupport ni coins ph, which is Litecoin (LTC) or Bitcoin Cash (BCH).
Pag na-credit na coinsph account mo, convert nyo na sa Pesos and kayo na bahala kung paano mag withdraw. :)
--------------------------------------------- Recommended Altcoins Here's what I'm staking right now, since this is what I started with. Tokemon (TKM) / Ratcoin (RAT) Exchange website: https://bololex.com/ I highly recommend Bololex. May games din sila na you can earn what you call BOLO tokens. Pwede mong i-convert yung BOLO sa TKM, which is pang-dagdag din sa balance mo. Minimum bonus TKM you can earn using every few hours is 5000 TKM, which is not bad. Willowcoin (WLLO) / Big Data Cash (BDCASH) / The Big Coin (BIG) / BeanCash (BITB) Exchange website: https://www.unnamed.exchange/ Infinite Ricks (RICK) Exchange website: https://www.altilly.com/ --------------------------------------------- Alam kong mahaba, pero salamat sa pagbabasa :) If you enjoyed staking, you can also consider these 2 websites. Wala nga lang faucets to, so either magdedeposit kayo, or magfafarm kayo ng faucet sa ibang lugar, then transfer nyo dito. Ref|Non-Ref - Stakecube.net Ref|Non-Ref - Stackofstake.com (Yung ipon kong extra na Willowcoin sa Stakecoin may nilalagay din ako dito)
From 10000 to 10 Million: Coin Circle KOL Happy Shares the Road of Gold Mining in China
On July 27,2020, Bitcoin soared from US $9900 to US $11400, a 15% increase in a single day, opening the first round of global cryptocurrency market outbreak after the epidemic.Since then, different currencies have been soaring in turn every day.A few days ago, I attended a private gathering of cryptocurrency circle in Silicon Valley, and got to know a veteran of currency circle named XX.XX is a China expert and an early investor of TRX, OMG and EOS. It started from $10000 and now has a value of more than $10 million. It is called China bitbutcher in a small circle.The author and XX talked about a lot of dry goods, now sorted out to share with you, interested can add my telegraph group（https://0.plus/bpopaha）Discuss it together.The following is the account in XX’s own words. Firstly, you need to understand the market. Some people call me China Bitbutcher. In fact, there are many people who make more money than me in the Chinese market. Although the projects invested are different, they all have one thing in common, that is, they all have a better understanding of the Chinese market. At least you have to install a Wechat. You see, I have added many groups of Chinese investors to collect information and study their investment characteristics. For example, this expression pack is very representative. https://preview.redd.it/uk2kzcpt4ft51.png?width=554&format=png&auto=webp&s=c17307c5890e6ef072447a779c5e9b9e06b45173 "show-hand" here is the transliteration of show hand, which means that you can bet all your cash on a single coin. If you only bet on one coin, you will have either heaven or hell.Whenever a KOL starts to shout for orders, the retail investors in the community will rush to get into the gold and shout the slogan of "show-hand". The lucky ones who get into the gold earlier will get several times or even dozens of times (or higher) return on investment. Similar to the "Beat Generation" born after World War II in the United States, today's young people in China are called "post-90s" and "post-00s". Although they don't have to worry about food and drink, their limited income is far behind the increase in urban house prices and living costs. Houses and cars are the necessary conditions for young Chinese men to marry their wives.As a result, these young people tend to be very aggressive in investment, and there are many people eager to make tens of thousands of dollars with thousands of dollars.At present, there are millions of investors in China's currency circle, which is equivalent to the total population of some small European countries. Behind this, there are tens of millions of stock investors who will turn to coin circle people at any time. Since the popularity of ICO in 2017, China has produced dozens of hundreds or even thousands of times projects such as Neo, TRX, ONT, etc., and tens of billions of dollars of funds have been taken out and deposited from the pockets of investors in the currency circle. At the same time, there are also a large number of gold miners (most of them are foreigners) who have absorbed a lot of money from China through ICO and obtained wealth freedom. Among them, EOS is a typical example. The financing time is as long as one year, and the financing scale is more than 2 billion US dollars, of which a large part is paid by Chinese young people. There is also a well-known KOL in China, who has been crazy about EOS, even calling out the slogan of "three waves of fighting to 1000 yuan (Note: 1000 yuan is equivalent to 143 US dollars, currently EOS is worth 3 dollars). However, such a crazy KOL still has the support of hundreds of thousands of fans. Fortunately, with so many fanatics, the EOS I held in the early stage could be safely and gradually shipped, with a comprehensive yield of 553%. It's not too much to say that it's collecting money on the ground. So if you take the same money and gamble with the gentlemen on Wall Street, you'd better take the same money to China’s currency circle market. By the way, there was also a big man in the currency circle in China who said that these retail investors were "idiot", "stupid people, lots of money, come quickly". I didn't believe it. However, at the end of 2017, I heard from my Chinese friends that I invested in a project called TRX. I only invested $5000, and finally I withdrew 100 times. 5000 US dollars turned into 500000 US dollars. Since then, I have fallen in love with this magic market. Secondly, we should see the situation clearly. A leader of China's democratic revolution once said a sentence that I like very much, which is called "the general trend of the world, the one who goes along will prosper, and the one who goes against will die." So before you pay, ask yourself a question: do you think the bull market has opened? Or is the bull market in the middle? This needs your own judgment, conform to the general trend to make money. In my opinion, at the present stage, two thirds of 2020 has passed. In the past eight months, the global epidemic broke out, the economy went down, the US stock market failed, the Olympic Games were postponed, and Bitcoin plummeted to 3800usdt.Under this undercurrent, hot money is irresistible, especially the savings of Chinese currency circle investors in the long bear market, which urgently needs an investment export. On the surface, this bull market is led by Ethereum, but in fact it is the result of a combination of multiple factors. One of the key points is to invest in customers' wallets. With Bitcoin starting on July 21, the current high level of 12000 or so, most of the mainstream currencies in the market have completed the round of rise. Meanwhile, the defi plate is extremely hot, and the future market will continue to be bullish. Judging the situation is the basic logic of our investment. If this does not hold up, there is no need to look down. Thirdly, choose potential currencies. If you also agree that the bull market will continue, then you should take advantage of this wave of heat, ambush some hot currencies in advance, and then wait for the market makers to stir up the market and plate, attract a large number of retail investors to follow suit, so as to easily make money in the market. At present, it is obvious that the market has entered the second typical stage: bitcoin trading horizontally and counterfeit currency rising in turn. Almost every day comes the news that the counterfeit currency of XX is about to soar, and then investors who build their positions ahead of time are beaming with joy to show their income map in the major communities. Please note that! At this time, most of the unqualified investors are following the trend and buying without their own opinions. It is true that some people have made a lot of money, but the risks have multiplied. Because while they are making money, they are also carrying sedan chairs for the makers. But a small number of "smart people" don't think so. They firmly believe that the safest way is to make money within their scope. One of the important ideas is to explore the underrated high-quality projects that have not yet started to rise in the bull market, complete the warehouse building at the low level, and get the early hundred times chips. Fourth, how to find a hundred times currency. As we all know, 100 times coin has the following characteristics: it has a perfect business model and pass card model, has its own application and ecology, and has a group of loyal users and community consensus. This is the fundamental reason why I found TRX, OMG, ONT and other currencies. There is an outstanding businessman named Jack Ma in China. He put forward a concept called "small is beautiful", which means that the best investment target is a project with small scale and high marginal profit. Just in the past two days, I downloaded an investment advisory app called coin bubble through China's wechat group, and also sent a token. I think it is small and beautiful according to my own definition. https://preview.redd.it/qtl5bjku4ft51.png?width=415&format=png&auto=webp&s=6a04ceee255b4b76559e8c51407b49475969aba7 According to the official introduction, the coin bubble is a mobile terminal entrance for digital financial investors. It is committed to creating a rich, interesting and practical digital financial investment consultant ecosystem, helping new users of the digital financial investment circle to quickly integrate into the circle and culture, improve their investment skills and obtain better investment returns. The goal of currency bubble is to become the first stop for traditional financial investors to enter the digital financial world and the first entrance for incremental users and incremental funds. The concept is quite grand, but in a word, the team has made a consultant app for coin circle investment and built an active community of crypto asset enthusiasts. Through the mode of knowledge payment or commission, KOL at the head of the coin circle helps their fans to purchase crypto assets and derivatives with zero threshold, and obtain commission income from it. https://preview.redd.it/t84a637v4ft51.png?width=831&format=png&auto=webp&s=c9ada4fc9331ddcf7c199fe6c65afce16efb0361 Different from some projects on the market that often claim to be hundreds of thousands of users and start to issue money in the air stage, the money bubble has been done as a traditional Internet project from the beginning. The team itself is not short of money, and has not raised a lot of money in the initial stage. Instead, it only focuses on the perspective of resource exchange from the perspective of Genesis fund, alpha-coin fund and Continue Capital and other cryptocurrency capital parties symbolically took some start-up funds in order to better utilize the latter's extensive network resources in the currency circle. According to a friend who has a good relationship with the core team, the management of the currency bubble is extremely low-key, and rarely appears in front of the currency circle media. The team has always believed in the principle of product first, and has little interest in marketing. Just as soon as the app 1.0 version was launched, it caused a widespread sensation in the currency circle, and even was immediately plagiarized at pixel level by another well-known giant app two weeks later. But the team just said in the internal meeting, copy it, see whether you copy fast or we innovate fast. As a result, when app2.0 was released, the coin recommendation function was once again popular, absorbing countless powder, and it was still copied by several friends. However, this kind of plagiarism can not last for a long time, because the money bubble depends not only on the function innovation, but also on the community reputation. The Internet has such Matthew effect, and the head app is always strong. At present, the coin bubble has initially established a product matrix of currency recommendation, spot strategy, contract strategy and communication community. Investors, KOL, exchanges and project parties in the currency circle can take what they need and get the resources they want. At present, money bubble has been the first place in the investment advisory track by relying on natural flow and word-of-mouth propaganda. Many of the original friends who only relied on plagiarism have disappeared. At present, there are about 3000 KOLs with different levels in the currency bubble, which continuously release spot currency, contract strategy and potential currency on app. Online, hundreds of thousands of users can easily find KOL with high success rate and stable yield through the currency bubble platform to carry out documentary operation to obtain profits. Offline, the coin bubble has dozens of official wechat groups and hundreds of alliance groups, radiating millions of users in the currency circle. Currency bubble has become the first professional community in China's domestic currency circle. https://preview.redd.it/kd9zw40w4ft51.png?width=165&format=png&auto=webp&s=bf347befb1633b9475afcd0cba5d71fdfcd9c252 Currency recommendation plate spot plate contract plate https://preview.redd.it/gcj6ztuw4ft51.png?width=183&format=png&auto=webp&s=52e670711d2256131cd630e5e6e3c360205aabd8 Money bubble online community currency bubble wechat community In order to better integrate and match the resources in the ecosystem, coin bubble launched token BPOP with the same name in a low-key manner in 19 years, but it has not been vigorously promoted. This is also in line with the team's low-key temperament of not lacking money, not promoting and only making products with heart. According to internal information, BPOP token will be used for the following purposes: First, you can use BPOP to subscribe to KOL's trading strategy. Previously, in order to comply in China, BPOP has been using French currency to settle Commission. However, the team may have considered the subsequent global promotion, and it is time to introduce ecological token for internal settlement. The good news is that the English version of coin bubble was launched in early September, which will better serve the global English speaking users in North America and Europe. At the same time, the project side also said that it would launch multi language versions such as Japanese version, Korean version and Latin version as soon as possible, so as to provide accurate investment advisory services for users in more regions of the world. Secondly, BPOP can be used to offset the service charge of the platform.This seems to be consistent with the strategy of the traditional exchange and the traditional investment consulting company, but in fact, the Commission is charged only when the strategy is profitable. This is totally different from the traditional one. It is a killing strategy created from the perspective of investors in the currency circle. As we know, the vast majority of the profits of exchanges and consulting companies come from the handling fees for ensuring the collection of goods during drought and flood, especially for futures contracts, which are extremely high. This small fee hides the ambition of the currency bubble to subvert the status quo of the industry. Now there is a popular word called dimension reduction strike. It is the Internet that kills physical stores, and takeaway is used to kill instant noodles. Is it possible that the person who kills the exchange is such a latecomer? Thirdly, BPOP can be used for position dividend. As mentioned above, the money bubble is set up according to the traditional Internet companies, and has its own stable source of income. Besides the platform Commission, a large part of it comes from the realization of traffic, that is, advertising revenue. Money bubble has served many star customers, such as OKEX, Bybit, MXC, famous project parties such as STPT, AKRO, DOS, ARPA, etc., and has reached hundreds of customers. Relying on its own flow advantages, the coin bubble provides accurate diversion and product promotion services for customers, matches high-quality investors in the currency circle for high-quality project parties and exchanges, and achieves a win-win situation. The subsequent position is equivalent to holding currency bubble stock, which will continue to enjoy the income and dividend of currency bubble. According to informed sources, BPOP will develop new products in combination with the current defi hot spots, and BPOP will also be the only value medium in the product ecology of defi, which means that the higher the demand for products, the stronger the price support of BPOP. - BPSwap BPSwap is an asset exchange platform, which can be used for token exchange of any public chain agreement. In the initial stage of the product, BPOP will be used as the main exchange target, i.e. eth / BPOP, TRX / BPOP and other transaction pairs. In the later stage, transactions between different currencies and flash exchange functions will be gradually opened; When a general investor subscribes to KOL's portfolio with BPOP, he / she can use BPSwap for trading exchange, and can also obtain income by providing transaction liquidity, which can not only quickly buy "wealth password" but also obtain additional income by using "wealth password"; The main functions of BPSwap are as follows: 1）Provide various platform data. Such as liquidity pool data, convertible currency pairs, exchange currency pair liquidity and transaction volume data; Exchange mechanism of transaction currency. In the initial stage, erc-20 or trc-20 will be opened to exchange currency pairs for BPOP transactions. Any user can view KOL recommended currency on BPOP platform and conduct transaction exchange directly; 2）Liquidity pool reward and new liquidity token. Any user can provide liquidity for different trading currency pairs, increase or remove assets in the liquidity pool. At the same time, the platform will issue a new liquidity token bpop-lp to reward users who provide liquidity for trading currency pairs. Bpop-lp can be exchanged with BPOP / USDT / eth; 3）Flash cash function. Quick exchange of small assets. In a word, BPSwap can make the users of currency bubble realize all kinds of "one-step" needs, from buying currency, to checking and recommending currency, to asset transaction and exchange, etc., so as to realize the closed-loop use of digital currency. As the only value medium of BPSwap, BPOP will be used by more and more users with the maturity of products, and the price will rise. Finally, BPOP will also realize the interesting functions of internal users such as reward and props purchase, which may be related to the next blockbuster version. I don't know the details, so I won't make a wild guess. The above is basically from the product, operation and technical aspects of the project analysis, but these alone are not enough, when we choose the investment target, we also need to carefully analyze the token situation, in order to draw a more accurate conclusion.These analyses are boring, but they are often critical. The reason is exactly the same when we analyze other currencies according to the method I said. The reason why bitcoin has become the favorite of investors is that it can not be issued more shares and has the characteristics of unlimited deflation. Although BPOP cannot be dug out, its deflation is more fierce and fierce. I can easily find out that the current circulation of BPOP is extremely limited after a large number of lock ups and multiple destruction of BPOP by combining the announcement issued by the currency bubble and the data on the chain. The currency distribution of BPOP is shown in the figure. The orange part is the market circulation volume, accounting for 10%.The other blue parts are those in lock / destroyed / to be destroyed. Currency bubble contract address: 0x0452aed878805514e28fb5bd0b56bef92176e32a As can be seen from the figure, the total amount of BPOP is 1 billion. Among them, the foundation has actively destroyed 500 million, ecological destruction has reached 100 million, team lock up 200 million, private placement has not been issued and destroyed by 42.4 million. The remaining cornerstone investment is 100 million and the market is 57.6 million. At present, there is only 157.6 million circulation in the market. According to the official announcement, the government has been using the business profits to buy back from the secondary market. At present, the government has successively bought back about 60 million, and the real circulation in the market is only about 97 million tokens. In addition, the project side's goal is to continue to buy back to 147.6 million and then destroy all the tokens, and all the tokens will be deflated to 10 million. According to the current real circulation of 97 million, the current CBX.ONE Its latest trading price is 0.005usdt, and its circulation market value is about 485000u. Compared with its current user volume and business volume, it is in a seriously underestimated state, and there is a huge space for imagination in the future. At present, the price is at a historical low price, which conforms to all my definitions of small and beautiful. To sum up, BPOP meets all the characteristics of this bull market - The business model, application and ecology are complete, and a large number of landing products are used by users; - The market value of project token is small, but the project investment institutions are strong; - The project team has deep experience in the blockchain industry and is keen on doing practical things. - The direction of the project is in line with the hot spots of the current bull market. There is a well-known saying in China's retail circle, "hold on, the team is working." On the one hand, it means that the team only focuses on the products and does not care about the price performance of the secondary market; on the other hand, it means that the project team is really pushing the whole product forward and the price has strong support. However, as long as there are specific landing products and a large number of users use them, the currency price will naturally attract other hot money to come in and raise the price. After all, the secondary market is just a capital game, and the coin bubble project meets this condition. The products are developed in an orderly way, and the market value is still so small. It is very easy for BPOP to rise several times or dozens of times in this bull market. At present, BPOP passes can be found in the decentralized exchange uniswap (search BPOP or contract address: 0x0452aed878805514e28fb5bd0b56bef92176e32a) and the centralized exchange Dubai compliance exchange cbx.com Trading. Those who are interested can learn about it by themselves. Of course, before buying, you can also go to its official website（http://www.bpop.io）Download the app to experience it. By the way, I tried to recharge 1000 usdt, and now I have made more than 300 usdt. Of course, some secondary pages still have a lot of Chinese, which is a little difficult to watch. It is said that an optimized version of the English version will be released soon, and everyone can experience it at that time. Finally, I would like to remind you that although the money in China's currency circle is relatively easy to earn, it is also a high-risk investment variety. Before you enter this market, please be sure to follow the above-mentioned method to deeply understand the Chinese market and analyze the currency you like in detail. If you have any questions, please feel free to communicate with me.
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