Alt-Coin Quantum Resistance Ledger (QRL)

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SilverDoge
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Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Wed Jun 14, 2017

Copied over from the Alt-coins thread (originally posted on 11JUN17:

My most recent crypto purchase: QRL

This coin was listed on Bittrex yesterday. It is there and on Liqui.io but I recommend Bittrex in general. This article is quite technical, but the coin is trying to solve the problem of Quantum computers hacking the key pairs of crypto currencies.

This article was written by Vitalik in 2013: https://bitcoinmagazine.com/articles/bi ... 375242150/

That article is very tech heavy and complex. Today over 50% of bitcoin is at risk if/when quantum computing gets to the dangerous level. QRL is the first coin trying to solve this problem explicitly, and not as a side tangent to other business.

I was originally hesitant on this coin - as there was no hype to it like you see with BAT, Bancor and all the others. It did a pre-sale, and announced an ICO with a target goal of only reaching $4 million. There was no ICO because the pre-sale raised the money in weeks, while turning down additional money from investors beyond that point. Oddly the BitcoinTalk thread is only 12 pages (it was 9 pages when I first found it and when the pre-sale was already completed). I have been on their slack channel and now feel comfortable enough with the team, how they raised the funds despite little/no marketing, and the whole picture to now invest money into this coin.

BitcoinTalk Thread here: https://bitcointalk.org/index.php?topic=1730273.0

Additionally, there is an event on June 22nd in Munich hosted by Google's Quantum AI Lab & BlueYard. The dev team at QRL got a late invite to this event. They will take 2-3 people on this trip, and likely be the only ones there talking crypto and solving the vulnerability issues in the crypto world due to quantum computing. See: https://medium.com/@BlueYard/join-us-on ... 7b5aa61cc6

I look at this coin somewhat as a hedge strategy too. Some people talk about the NSA "hacking" bitcoin or crypto and such making it all worthless. To do that, they would need quantum computing. So if there is a real risk that does exist to crypto, and the QRL team solves it, they will be THE answer (or at least the first mover) which will create huge demand. So if you are a bitcoin whale, and realize that this is one of the real risks, you might want to hedge with some QRL - at least that is my thinking.

They have launched an ERC20 compatible token which can be withdrawn from Bittrex and held on MEW. This is an interim solution until they launch their MainNet, possibly in August. After that, they will swap the ERC20 QRL tokens 1:1 with the real QRL tokens. The only purpose of the ERC20 release was so that people could trade their positions, thereby dispersing the market to make it more secure, and add extra value to investors as they ramp up to MainNet launch and finally begin advertising their product.
Last edited by SilverDoge on Wed Jun 14, 2017, edited 2 times in total.
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Wed Jun 14, 2017

If anyone remembers the "Facebook" movie called The Social Network, there were several memorable lines in it. One of them was the Zuckerberg actor stating that if Facebook is down for any amount of time, that could ruin the whole thing, especially in the early days.

Along the same lines, a similar theme could develop for crypto. Not down time or hacking - we've seen that already with the DAO and Mt Gox, etc but with a computer strong enough to crack the public-private cryptographic RSA keys. Only a quantum computer is strong enough to potentially do this, and we are years (months?) away from that depending on who you ask. If the NSA invents one it will be too late for the public to stay ahead of it. Quantum computing is the greatest risk to crypto at this point. Not hackers, not governments, stronger computers than can undermine the entire security of what makes the cryptographic hashing signatures secure.

Enter QRL. I'm not going to pretend to understand exactly how they are doing this. All I know is that if and when quantum computing is powerful enough, this coin will be the safety line for crypto. People will flock to it. It is good to have your parachute on BEFORE you need it, not as the plane is diving down.

We all know crypto is the wild unregulated west, and that is on purpose. There will be bumps and bruises along the way. But I believe a 10% hedge position in this coin is well worth the risk for anyone holding any crypto. More to come.
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby Long John » Wed Jun 14, 2017

SilverDoge wrote:We all know crypto is the wild unregulated west, and that is on purpose. There will be bumps and bruises along the way. But I believe a 10% hedge position in this coin is well worth the risk for anyone holding any crypto. More to come.

I am not sure what this means. If you have $75K worth of crypto, you should have $7.5K worth of QRL?

I am very pleased to have a small holding in QRL, acquired cheap on Travis' advice a couple days ago, and by the time you read this it may have tripled in value. But I still do not fully understand its potential. Need to carve some time out for that.

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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Wed Jun 14, 2017

Long John wrote:
SilverDoge wrote:We all know crypto is the wild unregulated west, and that is on purpose. There will be bumps and bruises along the way. But I believe a 10% hedge position in this coin is well worth the risk for anyone holding any crypto. More to come.

I am not sure what this means. If you have $75K worth of crypto, you should have $7.5K worth of QRL?

I am very pleased to have a small holding in QRL, acquired cheap on Travis' advice a couple days ago, and by the time you read this it may have tripled in value. But I still do not fully understand its potential. Need to carve some time out for that.


Start with the first link in the very first post above.

Then read this: https://medium.com/the-quantum-resistan ... 6336a02b03

Then this: https://medium.com/the-quantum-resistan ... eed7bdbf65

Then this: https://medium.com/the-quantum-resistan ... d99dfa03be
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverGOP » Wed Jun 14, 2017

No Such Agency's unleashing of a quantum computing platform will only become known after word gets out that some of the bad guys' crypto accounts are getting cleaned out. It would be folly for the Agency to make such a platform known to the public before it was tested and used successfully.

And that's just NSA...

How long did it take bitcoin to develop their blockchain? and how long would it take to upgrade it to be proof against a quantum attack?

The reasons for the bank runs in the Depression was that the depositors were not assured of the security of their deposits, or the access to them. The individuals running the several cryptos would do well to note this.

And before I get called out by individuals for not knowing what I'm talking about, please PUBLICLY show me where any of the above statements are in error, and how any of my questions are not germane?
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby Long John » Wed Jun 14, 2017

Thanks for the links, Travis. The 24-hour chart shows that yesterday afternoon it was possible to buy at 30.5K. I wish I'd been on the ball then, though that might have been a small amount. Price is currently 51K and so far today QRL seems to have resisted the drag from BTC. Now I have a buy set at 36K, in case of a sell-off, but I bet it doesn't hit.

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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Wed Jun 14, 2017

SilverGOP wrote:No Such Agency's unleashing of a quantum computing platform will only become known after word gets out that some of the bad guys' crypto accounts are getting cleaned out. It would be folly for the Agency to make such a platform known to the public before it was tested and used successfully.

And that's just NSA...

How long did it take bitcoin to develop their blockchain? and how long would it take to upgrade it to be proof against a quantum attack?

The reasons for the bank runs in the Depression was that the depositors were not assured of the security of their deposits, or the access to them. The individuals running the several cryptos would do well to note this.

And before I get called out by individuals for not knowing what I'm talking about, please PUBLICLY show me where any of the above statements are in error, and how any of my questions are not germane?


SSGOP is perfectly making my case for this coin. QRL will be resistant to the quantum computing vulnerabilities. If you delve truly deep into the cryptography you will understand that a bitcoin public address key that isn't publicized and that has never SENT coins is still secure from a quantum attack. But if you've ever sent coins from a public key address, then your private key will be at risk once quantum computers are fully functional (assuming they are trying to crack it). So over 50% of bitcoin wallets are at risk - but not all.

So when people start losing coin to the known or unknown quantum computers they will immediately flock to the QRL which is Quantum Proof (QP). Then other coins will begin attempting to update their code to become QP as well, but losses will happen if they don't pre-plan. We don't know if this is 2 years off or 10, but QRL is the insurance policy for any crypto holders. Quantum computing won't ruin crypto, it will be another speed bump along the way. But why not pre-plan and own QRL in the meantime?

Long John wrote:
SilverDoge wrote:We all know crypto is the wild unregulated west, and that is on purpose. There will be bumps and bruises along the way. But I believe a 10% hedge position in this coin is well worth the risk for anyone holding any crypto. More to come.

I am not sure what this means. If you have $75K worth of crypto, you should have $7.5K worth of QRL?

I am very pleased to have a small holding in QRL, acquired cheap on Travis' advice a couple days ago, and by the time you read this it may have tripled in value. But I still do not fully understand its potential. Need to carve some time out for that.


So if you read the above, then this makes the case for a 10% (or more) position in QRL. There is currently one YouTube video that I found on QRL and it isn't even good. The only marketing that has happened is in the ANN thread, slack channel, and word of mouth. I can't say any coin is a guaranteed winner, but if I had to pick just one to own right now - this would be it.
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby Long John » Wed Jun 14, 2017

Invested .103 BTC, worth .444 BTC a few days later. The question is, sell 1/4 so the other 3/4 will be free no matter what happens? Many people feel it's a no-brainer, from comments I have read, but two things make me hesitate: 1) I don't have very many! and 2) What really matters is the health of my overall position rather than individual pieces of it. QRL is making up for a lot of market drop today, including Bitcoin.

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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Thu Jun 15, 2017

Long John wrote:Invested .103 BTC, worth .444 BTC a few days later. The question is, sell 1/4 so the other 3/4 will be free no matter what happens? Many people feel it's a no-brainer, from comments I have read, but two things make me hesitate: 1) I don't have very many! and 2) What really matters is the health of my overall position rather than individual pieces of it. QRL is making up for a lot of market drop today, including Bitcoin.


There are several schools of thought on this. Quite frankly, I do like the "sell your initial investment, and let the profits ride strategy" - especially in Las Vegas if you're up! The problem here though is QRL is a hedge strategy.

Personally, I'm not selling a dime until after MainNet launch - I don't care what the price does until then. That will likely occur in September. If this was just a flier, I would execute the "sell initial investment" strategy that you mention, but I would not blame anyone for wanting to lock in some profit (to bitcoin? or tether? or USD?) and ride the gains.
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Thu Jun 15, 2017

So apparently while I was sleeping, QRL overtook PIVX in overall market capitalization :shifty:

Not sure how I feel about that yet. Bittersweet?
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby Long John » Thu Jun 15, 2017

SilverDoge wrote:So apparently while I was sleeping, QRL overtook PIVX in overall market capitalization :shifty:

Not sure how I feel about that yet. Bittersweet?

Honestly I don't think about PIVX much any more. With my holdings (and attention) so diversified now, I don't even buy PIVX on the dip and sell on the spike any more. It's all in the Master Nodes and it either blossoms in time, or it doesn't and I will sell with a twinge of regret and move on.

Meanwhile, the market has caught up to QRL and put a damper on its steady climb, though it puts the rest of the market to shame on the 24-hour chart. It got as high 98.4K and is down to 77K as I write this. Still up nearly 4X from when I bought in. Wish I'd bought more, but I was distracted by a squirrel or something ¯\_(ツ)_/¯ and only took a small flier. I don't think it's going to drop as far as my buy order.

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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Thu Jun 15, 2017

Quantum computing explained as simply as possible:

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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby Long John » Thu Jun 15, 2017

The narrator concludes: "Right now we have no idea if quantum physics will be just a very specialized tool, or a big revolution for humanity."

Even as a specialized tool in various fields, quantum computers would seem to be a game-changer in those fields.

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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby Marchas45 » Thu Jun 15, 2017

Bloody hell this old farts head is spinning but at least I know what your talking about now. :lol:
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby BarsandStars » Thu Jun 15, 2017

Marchas45 wrote:Bloody hell this old farts head is spinning but at least I know what your talking about now. :lol:


Every time I try to follow one of these cypto threads, a new one pops up and makes my head spin.
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby Long John » Thu Jun 15, 2017

Marchas45 wrote:Bloody hell this old farts head is spinning but at least I know what your talking about now. :lol:

And that was the SIMPLE explanation! :lol:

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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby Long John » Thu Jun 15, 2017

QRL is now the #2 currency on Bittrex in volume. It suffered in the marketwide slide this morning, but not as bad as most, and is now back in the 70s.

Edit: OUCH!

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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby Long John » Thu Jun 15, 2017

One thing today's trampoline ride did was allow me to almost double my QRL holding, as it briefly dropped under 50k. I had buy orders at 54k and 60, did not expect either of them to hit, but both did. Then back up into the 70s, where I assume a lot of swing types who bought the dip then sold off, and now it's in the mid 60s. Enough of this bouncing on a trampoline and get back to a steady march up the slope.
Last edited by Long John on Fri Jun 16, 2017, edited 1 time in total.

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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby Fabio » Thu Jun 15, 2017

I put in a bunch of low ball buy orders, don't know if they filled, will have to check tomorrow. I'm hoping at least some of them filled.
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby silverbender » Fri Jun 16, 2017

Long John wrote:One thing today's trampoline ride did was allow me to almost double my QRL holding, as it briefly dropped under 50k. I had buy orders at 54k and 60, did not expect either of them to hit, but both did. Then back up into the 70s, where I assume a lot of swing types who bought the dip then sold off, and now it's in the mid 60s. Enough of this bouncing on a trampoline and get back to a steady march up the slope.

Still #2 in volume on Bittrex, the only significant exchange to carry it so far.
I tried to transfer btc from Kraken but I forgot I had an open btc sell order that was locking the funds from transferring.Just figured it out but missed that sweet dip you caught.
Waiting on another but I think the one last night was part of the btc drop.
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