The Cryptotard

Discussion of all things crypto and blockchain.
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Brick's
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Re: The Cryptotard

Postby Brick's » Mon Jun 04, 2018

Checked my Binance account earlier yesterday and the totals. Turns out I'm about .0004 of a Bitcoin (BTC)down (cumulative value of all Crypto) from my start point. BTC was also down about $175 from my initial buy. Remembering I started with just .12 BTC. Between a 1/4 and a 1/3rd is in alternative Crypto.

I'd have buy limits in for DBET and QRL but Binance isn't up to speed with them yet. Have a lowball buy limit in for QTUM. A new one that popped up on my radar is (CTM) Cybermiles. Also tracking DASH, NEM, and NEO for possible lowball buys. But, they are not inexpensive enough yet.

Speaking of Binance it seems to have the most resilience of the Crypto I'm following. Especially during down turns as it recently hit an all time high vs BTC. Seriously considering cyclical trades in and out of it, but only small positions to play with.

Came across a couple of video about using a cheap old cell phone as cold storage. Seems simple enough for someone like me but thought I'd get feedback prior. Android, No sim card, factory default settings, WiFi off, insert micro SD from Mycelium and away you go. Well, away you go is everything I know nothing about but could learn by Cryptotarding out. Worth considering or is it more complicated and unsafe than I am thinking?

Again, simpler is better to me and why I like old 1959 ford small block V8s to work on. At least you could crawl in and have space to work the wrenches.
"Those who can make you believe absurdities can make you commit atrocities" Voltaire

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Re: The Cryptotard

Postby Brick's » Sat Jun 23, 2018

So I was wondering about EOS (I have a small position) transition over to main net. As I am totally clueless about how this happens or what it entails I thought I'd look into it, and this is what I found:

A can O' worms! This might be worse than actually obtaining EOS token. Information taken from researched website.

Sooo it appears EOS isn't going live yet as enough top block producer candidates have not voted, some developers are not sure who some of the top block producer candidates are, and some are hesitating with staking their token. The EOS team states that there need to be 150 million tokes staked in order for the voting to be completed and announced as valid, but voters have only staked around 30 million tokens.

The voting is important as the chosen block producers will operate the same way the block miners do, so their job would be crucial for efficiency and effectiveness of the new EOS main net. The main problem appears to be that holders that are non-technical users or not particularly tech savvy are not sure how to vote. It appears EOS voters could only vote by directly using the command line, which is difficult for technotard or the nontech-oriented voters.

****Bingo***** This is where I am. I have no idea what or who we are voting for, or how to go about it. Glad to see I'm in the majority for once. LOL More later on this as I learn more.
"Those who can make you believe absurdities can make you commit atrocities" Voltaire

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Re: The Cryptotard

Postby SilverDoge » Mon Jul 02, 2018

Brick's wrote:So I was wondering about EOS (I have a small position) transition over to main net. As I am totally clueless about how this happens or what it entails I thought I'd look into it, and this is what I found:

A can O' worms! This might be worse than actually obtaining EOS token. Information taken from researched website.

Sooo it appears EOS isn't going live yet as enough top block producer candidates have not voted, some developers are not sure who some of the top block producer candidates are, and some are hesitating with staking their token. The EOS team states that there need to be 150 million tokes staked in order for the voting to be completed and announced as valid, but voters have only staked around 30 million tokens.

The voting is important as the chosen block producers will operate the same way the block miners do, so their job would be crucial for efficiency and effectiveness of the new EOS main net. The main problem appears to be that holders that are non-technical users or not particularly tech savvy are not sure how to vote. It appears EOS voters could only vote by directly using the command line, which is difficult for technotard or the nontech-oriented voters.

****Bingo***** This is where I am. I have no idea what or who we are voting for, or how to go about it. Glad to see I'm in the majority for once. LOL More later on this as I learn more.


EOS has been a bit of a crazy show in the last 2-4 weeks. On chain governance (similar to what Tezos is attempting) is no easy feat.

See here: https://www.coindesk.com/soon-chain-governance/
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Re: The Cryptotard

Postby Brick's » Wed Feb 06, 2019

Well, who woudda thought Binance would end up in the top 10 ahead of Monero and Cardano?
"Those who can make you believe absurdities can make you commit atrocities" Voltaire

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Re: The Cryptotard

Postby Silverkid » Thu Feb 07, 2019

Brick's wrote:Well, who woudda thought Binance would end up in the top 10 ahead of Monero and Cardano?

meeeeeeeeee
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Re: The Cryptotard

Postby Brick's » Thu Feb 07, 2019

Brick's wrote:<snip> Speaking of Binance it seems to have the most resilience of the Crypto I'm following. Especially during down turns as it recently hit an all time high vs BTC. Seriously considering cyclical trades in and out of it, but only small positions to play with. <snip>


I noticed this about Binance back in June of last year. Perhaps I should have taken my own advise and watched it closer.
"Those who can make you believe absurdities can make you commit atrocities" Voltaire

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Re: The Cryptotard

Postby Bucketeer » Thu Feb 07, 2019

Brick's wrote:Have a lowball buy limit in for QTUM.


Hang in there with QTUM. I own a lot of QTUM. It's gonna be a big winner, and this is from a Bear that trashed most of the Alt-coins. China's Silk Road initiative is gonna be hugh, and QTUM will be the currency.

I'm a little under the weather. Any Super Bowl transactions will be satisfied. I'll going to ship (hopefully) tomorrow for silver and KSA guidebooks. I hate being late, and I beg your pardons. All PayPal transactions have been paid. Thanks guys!

Tom
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Re: The Cryptotard

Postby Brick's » Fri Feb 08, 2019

Thanks for the insight on QTUM. My low ball buy was filled a while back. Take care of your self 1st. No one else is more important.
"Those who can make you believe absurdities can make you commit atrocities" Voltaire

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Re: The Cryptotard

Postby Brick's » Mon Jun 24, 2019

Yea, ok. So Binance is pissing me off. Since I don't have my old cell phone any more that number can no longer be used as my SMS authenticator. I jump thru all of their hoops to get it switched and the result is this E-mail:

"Hello, your SMS Authenticator reset application is denied. The reason: Your application record has expired, please resubmit application."

It expired while they had it and were reviewing it. End result will be, switch to new authenticator when I get it and leave Binance. Will bad mouth them 'till the day I die just like I still do with Holiday Inn who F'ed up my last night of honeymoon in Newark, NJ on the return home. So If you didn't already know, Holiday Inn sucks. Never stay with them.


Got this little piece of info from First Investor regarding Facebook's Libra E-money. Thought you might like the read:

Why Facebook Recruited These Companies to Govern Libra
By Vin Narayanan, June 24, 2019

When Facebook first announced that it was creating its own cryptocurrency, called Libra, regulators and politicians promptly began to freak out. But Facebook isn't stupid. It knew that nobody would trust it to run a cryptocurrency. Consumers wouldn't use it. Regulators wouldn't approve it. And politicians would block or ban it. So Facebook decided to give up control of Libra and get by with a little help from some friends.

Facebook and 27 others are now members of the Libra Association. The Libra Association is the Geneva-based nonprofit that's tasked with governing Facebook's new cryptocurrency. Each member has one vote. So Facebook effectively controls just two votes - its own and Calibra's (the Facebook subsidiary building Libra's wallet).

The scope and breadth of the organizations Facebook recruited to govern Libra are remarkable. Here's a breakdown by sector:
Payments: Mastercard, Visa, PayPal, PayU and Stripe
Technology/marketplaces: Facebook, Calibra, Uber, Lyft, eBay, Spotify, Booking Holdings, Farfetch and Mercado Pago
Telecommunications: Vodafone and Iliad
Blockchain: Coinbase, Xapo, Anchorage and Bison Trails
Venture capital (VC) firms: Andreessen Horowitz, Union Square Ventures, Thrive Capital, Ribbit Capital and Breakthrough Initiatives
Nonprofits/academics: Kiva, Creative Destruction Lab, Women's World Banking and Mercy Corps.
The members of the Libra Association will run the nodes that validate Libra transactions. Joining the association requires a $10 million investment.

Here's how the association views its mission:

The association's role is to coordinate among the validator nodes the efforts to develop and secure the network and to promote their joint vision of financial inclusion. The two main areas of coordination and governance are 1) technical: drive toward alignment among the validator nodes and open-source community around the network's technical roadmap; and 2) financial: manage the reserve and allocate funds to social-impact causes.

In these early years of the Libra network, there are additional roles that need to be performed by the association: the recruiting of Founding Members to serve as validator nodes; the raising of funds from the members as well as other investors through the sale of Libra Investment Tokens (a token that grants rights to a share of the future interest accumulated in the Libra Reserve); the design and implementation of incentive programs, including the distribution of such incentives to Founding Members; and the distribution of dividends to Libra Investment Token investors. As the Libra network grows and matures into a fully permissionless blockchain in which anyone can serve as a node, these roles may no longer be required.
More simply put, the association is in charge of securely validating transactions and operating Libra's reserve, which ensures every Libra is fully backed by a basket of bank deposits and short-term government securities tied to currencies like the dollar, pound, euro, Swiss franc and yen. That's what keeps Libra's value stable.

Calibra will be tasked with some of the heavier lifting in terms of driving adoption. It will integrate its Libra wallet with Facebook (2.38 billion monthly active users, or MAUs), WhatsApp (1.5 billion MAUs) and Messenger (1.3 billion MAUs), giving Libra a massive reach. Calibra will also likely work to integrate its wallet with other user bases and merchants.

But it's the presence of Mastercard, Visa, PayPal, Stripe, Uber, Lyft, eBay, Spotify and the VC firms that really give Libra juice.

The payment companies are worried about crypto disrupting their business. So they want to control the disruption - or even disrupt themselves - before their business disappears.

The automotive industry is doing this right now. Between Uber, Lyft, autonomous vehicles, car subscription services and demographic-based behavioral changes, the car industry is looking at a future where fewer and fewer people are buying and driving their own cars. So how are they adapting? By leaning into the change and trying to own the autonomous car space.

Microsoft did the same thing when the web browser first came out in the 1990s. In an effort to protect its Windows business, it leaned into the internet and released its own web browser.

The payment companies also want access to the 1.7 million unbanked people throughout the world. If they can capture a piece of that market and bring it into the digital economy, it's a big win for them.

Meanwhile Uber, Lyft, eBay and Spotify are all international businesses that are looking for simpler and cheaper ways to conduct digital transactions both within a single market and across borders.

In fact, the best lens to view Libra through might be as a global mobile currency that requires exchanges, payment providers, merchants and consumers to be on similar pages.

In order to succeed, Facebook can't control it all. In fact, it can't even manage it all. It can will it into existence. It can give it a platform to launch on. But in order to truly succeed, it needs partners. It needs help.

Kathryn Haun, general partner at Andreessen Horowitz, said all Libra Association members will have a say in determining the direction of the digital currency.

"One of the key factors in our decision to join was that we would in fact have - and all members would have - an equal vote," Haun said.

So don't pay attention to the phony political outrage over Facebook's Libra launch. It's okay to be skeptical of Facebook's ability to develop and deliver the goods. (Remember Facebook credits?) It's okay to worry about privacy issues concerning Libra. And it's okay to be wary of Facebook offering banking services in the future. That's fair and legitimate. But Facebook is not taking over the world or replacing fiat money with Libra.

By ceding control of Libra to its partners, Facebook recruited the companies needed to make Libra a reality. And it made the whole enterprise about increasing access to the digital economy and creating a better digital economy experience for the world - especially the world's unbanked. That's a worthy and ambitious business goal. And a very smart play.
"Those who can make you believe absurdities can make you commit atrocities" Voltaire


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