Flipper Watchening Ethereum Flippening Happening

Can Cypherium be My Next Moon Bag After ChainLink !!!

When I first brought my Chainlink in Dec 2018, it was valued at 0.35. I brought 4000 units of Chainlink at 0.35 per coin ( Total Cost $1400). In the coming week, the price crashed to 0.20. Irrespective of taking huge losses, I still didn’t sell my Link as I had trust in the project.
I came across various twitter accounts giving negative predictions about Link and how this can again go down further but I kept HOLDing.
Now you may ask why?
To invest in a project and to understand its future value, we need to put some efforts to do a little bit of research about the project as well as the impact it can make in the future.
What Is Chainlink
ChainLink is a decentralized oracle network that provides real-world data to smart contracts on the blockchain. LINK is the digital asset token used to pay for services on the network.
In the Ethereum Scheme of Things, Chainlink is very important. With ChainLink, smart contract users can use the network’s oracles to retrieve data from off-chain application program interfaces (APIs), data pools, and other resources and integrate them into the blockchain. Basically, ChainLink takes information that is external to blockchain applications and puts it on-chain.
For many of the blockchain protocols out there, oracles like ChainLink will be necessary to access the data that these protocols need to operate. As such, ChainLink is, as it names suggest, the link that connects blockchain to existing infrastructure.
For me, I have understood that Etherum smart contracts have a huge potential, and these smart contracts needed real-time price feed data collected from sources both on and off blockchains. Chainlink was the first mover in this direction and that paid off really well.
I have recently sold the bulk of my LINK portfolio in the recent pump. This is not because I don’t see any future with LINK, But I feel i can generate more profits with new projects
I Belive in HOLDing. If I break down my portfolio, 80% of them are long HOLDs. 20% of them are for gamble the uniswap shit/farmcoin frenzy. I belive these Quick Rich projects that come out daily will continue for couple of months. After that what can survive are the projects that have solid base with future outlook.
Central Bank Digital Currency — The next big thing !!
Recently Philadelphia’s Federal Reserve bank president Patrick Harker came out with a remarkable statement that it is “inevitable” for the central banks, including the U.S. Federal Reserve, to start issuing digital currency. This is a great leap for blockchain from being labeled as a Ponzi in the past and now attaining a status of legitimacy.
As per a research report published by Bank for International Settlements (BIS), 70% of banks are engaged in or about to start CBDC work, and of these more than half are exploring both general purpose and wholesale CBDCs.
Lets first have a look into the concept of digital currency. As defined by IBM
A central bank digital currency is a digital extension of a central bank’s medium of exchangeable to permanently settle transactions between parties. The central bank is able to remove credit risk and ensure stability by guaranteeing the value of the CBDC with blockchain, exactly like paper money.
The present concept of CBDCs was directly inspired by Bitcoin, but CBDC is different from virtual currency and cryptocurrency, which are not issued by the state and lack the legal tender status declared by the government. Proposed implementations may not even use any sort of distributed ledger
In the beginning, CBDC was a slow-moving project. With the arrival of Facebook LIBRA, the development of CBDC became a high priority for Most of the nations. This is how I came across Cypherium.
Cypherium is an enterprise-ready blockchain project, which is designed to be highly scalable and robust which utilizes a hybrid design that features a joint Proof-of-Work (PoW) and HotStuff (Also adopted by Facebook’s Libra) consensus mechanism that can allegedly achieve thousands of transactions per second without sacrificing decentralization. Cypherium is designed in such a way to focuses on achieving scalability, decentralization, and commercialization viability.
If you want to have a detailed read about the project, you can read here
Can Cypherium pull a LINK performance?
For me, Yes. Why? .
I base my argument on the belief that I will be holding this project for at least a couple of months to come. These are not quick buy- sell that you can make an instant profit/loss
📷 If you want to make good profits (10–15x in NOOBS term), the best option is to have your entry in the beginning. Either you have to get the tokens in ICO or wait for the listing and time your entry (Most the quick flippers sell their token which will lead to massive price drops).
Once the dust settles, most of the projects go through an accumulation phase, and once it gains enough goodwill in the market it booms. Chainlink was trading in the range $.20 to $ .30 for a couple of months and now it’s trading at $13– $15. It took almost 2 years for LINK to reach here , Hope you got the point
📷 LINK was the first mover when it came to Oracles. Similarly, When it comes to CBDC, Cypherium has the edge. Cypherium has formed a Thinktank called Official Forum of Monetary and Financial Institutions (OMFIF) which is now leading research and development in the field of CBDC.
Most of the leading Central Banks are part of the initiative and it is expected that all these CBDC, if launched, will be running on Cypherium blockchain (High Chances). That means huge goodwill for the project, Huge upside for the CPT coins
📷 One of the greatest strengths of LINK is its partnerships. Similar to LINK Cypherium has already made Cypherium Enterprise available as Blockchain-as-a-Service for enterprise customers through the stack platforms of Google, Amazon, Microsoft, and IBM.
Cypherium is already a part of IC3 alliance in which Chainlink is also a part of. This means again more positive for the project to go up
All of these are my assumptions. This can even go wrong. But that the risk I am willing to take.I am sure this will pay off very positively for me
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MTG Remote - A Google Hangouts MTG Toolset

Hey all! It seems like there's a lots of interest in playing Magic over video chat recently due to the pandemic. I started developing this tool back in November as a way to help my friends and I play over Google Hangouts. It started out as a simple life tracker web page, but evolved into a chrome plugin with many more features. I wasn't going to announce this until it was much more full featured, but I thought people on here might find it useful now.
MTG Remote is a suite of tools that makes playing Magic: The Gathering over Google Hangouts much easier.
v0.7 (2020-04-12)
New this version: - Fixed card recognizer only working for hangout initiator - Added reset life totals buttons (20 or 40 life) - Added reset history button - Added option to have recognizer ignore cards already in history - New user interface for setting card recognizer bounds
Features include: - A multi-user life tracker with commander damage, poison and energy tracking - A shared card image lookup with history - Webcam card reconizer! Automatically detect cards and send them to the shared card display - A private card image lookup - Alternate card art version selection - Prevents mirroring of own webcam video - Turn order randomizer Each player who joins a google hangout video chat with this extension will automatically be added to the life tracker. Use the +/- buttons to increase/decrease your life total and other users in your hangout will see your updated life total on their screens. Use the card icon on the right hand side to bring up the card search. Start typing and the card names will appear in a dropdown. Select a card and it's image will be displayed to all players.
Future versions will include: - Dice roller, coin flipper - Decklist loading
Here's the site
Here's the chrome web store link
This extension is and always will be free, but if you'd like to donate to help fund server hosting costs, I've set up a Patreon and a Paypal as well as a Bitcoin wallet: bc1qent8dn3pyyzxlfz0sqpn9ttcdkn7p63zllrycy.
submitted by Sweenbot to Magicthequarantining [link] [comments]

Wealth Formula Episode 188: Ask Buck Part 2 (Transcript part 2)

So all right next question and we're already going pretty late this is a long question, okay this is a very long question or at least my answer is going to be very long because this is from Eric. He says this is a hypothetical question if you could participate actively and/or passively and only three of the following alternative investment types over the next five to seven years which ones and why. Okay so there's a long, there's a laundry list of different things here which I think it's useful to go over. These are all things I think the reason Eric has them is because they have been the subject of podcasts of mine over a period of time. Let me give you my personal opinion on each, it's not again not investor advice right this is not it advice, this is my opinion but I'm gonna go through each one that's on this laundry list and just give you a short little feedback from my opinion okay and then I'll come back and I'll give you my three favorites. So self storage units okay I like self storage. I like self storage because it's resilient to the cycles, the recessionary cycles etc and the issue like anywhere else though is you got to find the right operator. You can also you know you could probably learn to do this. I have not necessarily you know learned to do this but I think it's a good business, you know especially with the demographic changes, the boomers as they retire and they leave their you know big houses and they move somewhere warm like Florida or something like that then they got to put their stuff places and that makes it great or you can raise rents very quickly in these things. You basically nickel dime people up you know significantly every year the challenge is finding where do you invest and so I'll tell you that you know I'm not a big fan of funds. I know there are some funds out there I'm not a big fan of them because I like to know what's in the portfolio and I know for a fact that some of the funds are basically you know just a bunch of properties that no one wanted to take down an individual asset necessarily and so they all kind of got grouped together. I like self storage but the deal has to be just right. It has to be just the right location etc etc okay and by the way I think again and from an inflationary standpoint it's a great, great place to be too but you gotta find the right deal. I'm sure we'll get hopefully we'll get one this year in Investor Club. Mobile home parks. Mobile home parks now this should be a good place for hedging the economy because of low-income housing right because of the low income housing play right there's always gonna be people who need it. The problem is okay let me back up there are people who own mobile home parks who are doing really well and if you want to get it in into that I mean hey more power to you I mean there's people who are doing well and and they're making decent money but always just look it as a pure cash flow play okay and if you buy it on your own you may get who knows fifteen twenty percent cash on cash and you know you get a you're gonna know how to run these things. I don't know very much about it. I hear it's not necessarily that hard but you know I mean obviously the professional operators are probably gonna do more with it but you can still make their basically cash counts right now. Here's the problem with investing in them as a limited partner though is that most of funds I see they might be giving you nine ten percent and for me for that kind of low-income housing, I mean this is really like you know Class D stuff right, I mean this is below apartment buildings so nine ten percent is just not enough right and the reason why that you're only getting you know eight nine ten percent is because well I mean the operators are taking the other half usually. If you can learn to buy these on your own then it might be worth it but the reality is that in a fund model or a syndicated model there isn't gonna be a lot of upside there, right? I mean think about it. What do we do in the apartment space? We have the ability to raise rents quite a bit and improve these properties. You can even take a property that has you know currently has residents who are you know C plus residents and all of a sudden you know you've got some hipsters in there and also you've opened up a new completely different kind of asset right? You can do that with apartments but in mobile home parks you really can't do that, you can't do that. I mean seriously like how much can you raise the rent on a mobile home park, you know people are living in mobile home parks if they move up too much then they don't live in mobile home parks anymore so the bottom line is the appreciation on there is gonna be limited. The upside is gonna be limited and that means the annualized return will be limited okay because you're not gonna be able to rely very much on appreciation. It's going to be your cash on cash and think of it that's all. So I'm not a big fan. I'm just not a big fan because if you think about it the next thing on the list here, large multifamily 50-plus units. Well for me this is my number one asset class. I mean people gotta live somewhere and unlike mobile home parks you can get significant IRRs annualized returns by value-add through inflation and gentrification all these things that you really are limited in mobile home parks, you know you can't count on all that with mobile home parks and the reality is for investors if you look in you know Investor Club, our yields are just just as good as but the better than what you're seeing in the funds for mobile home parks and they're much higher quality assets in the right hands. In my opinion is even as a limited partner this continues to be the best place for not only capital preservation and growth capital preservation but also growth in the next five ten years. Okay so small multifamily in other words see you don't want to be a limited partner okay, you want to buy ten, 20 units etc. Well I used to do that more. I don't really do that anymore and I did really well right I mean I did really well with that kind of strategy. If you're a good operator then great go for it. The problem is that okay so say you're buying like a you know a million dollar asset you're gonna put in two hundred, two hundred fifty thousand dollars in that one asset to just buy it. The problem is that the risk profile is significant there if you don't know what you're doing right now as opposed to you know spreading your two hundred, two hundred fifty thousand over four deals in a syndicated deal and getting exposure to you know ten times more doors all of a sudden you've got two million dollars you know you've got two hundred two hundred fifty thousand dollars of equity sitting in one deal and his buck stops with you so if you are comfortable with that by all means I was comfortable with it I didn't necessarily like it and so what I would what I would say is if you're the type of person who really wants to get into the real estate game and be a landlord then go for it otherwise don't. Understand that it's very different to have a ten, twenty unit apartment building than it is a two hundred unit apartment building. One you're a landlord, the other one you're managing a small business so just be aware of that. Single-family homes is the next one on the list and I'll just tell you I just don't like them enough for our, not for our demographic, meaning like accredited investors, because you know you have the ability to do something a lot more scalable right, just through syndications and getting lots and lots of exposures. The thing I don't like about single family homes here's the deal, there's not enough scalability, there's too much Capex, okay so one roof and one furnace each unit and everyone I know who owns five or six single-family homes wishes they didn't own five or six in a single family homes they want to sell them. These get to ten and they're like this is terrible and you know I get a hundred dollars per property and then the next thing you know one month I get a five thousand dollar furnace to replace, so I'm not a big fan. So with multifamily if you're gonna do it on your own I would recommend that an award the way I think that most people who are probably not natural-born landlords should do is its consider syndications. When you get more scale and exposure to more doors, things become more stable, cash flow becomes more stable,there's less risk and in reality what we're seeing in our you know in our limited partnership opportunities is that the returns are you know better than probably most people can do on their own. The next one on the list is agriculture. Agriculture followed by CBD, specialty coffee, chocolate, well so let's start with you know some of these things because I know they've been on my podcast before, and just understand that when I have something on a podcast it does not mean I am advocating for it or saying that you should invest in it or that I even like the deal. All right so let's start with some generalities. Agriculture is fine. The stuff that I see some of the stuff that I'm seeing out there in the podcast ecosystem that you're mentioning concerns me okay and one of them is that I don't like foreign investments very much. I've had some experience with them I've realized the implications of those and I won't do them again, certainly with a smaller operator and the reason for that is that if things go wrong there you have very little recourse okay, yeah very little recourse and it's very difficult you know you have to know your operator very well. You have to trust them because if something happens overseas good luck trying to you know get any sort of retribution, ain't gonna happen right so be very careful with that, I know people get excited about it you know they go on some sort of you know they go on some sort of like investment trip and they come back and you know they're excited, they heard about something like this and it's shiny and bright and stuff like that well why what's the point, I just you know the best place to invest is right here in the US okay. The other thing is agriculture in general I would say it's fine, it's gonna be low yield and also I will say that when there's some thing like it doesn't grow three years and won't yield any cash flow for that period of time what seriously you're okay with that? Okay I'm not. And then on top of that when you sign the contract on these things look at the fine print. Look at what your exit is because you should never invest in anything unless you've thoroughly thought about how you're going to get out of it and some of these things have that problem as well. I'm not a big fan personally. Okay now CBD and I've seen that come up in the ecosystems a lot lately I again I CBD again that space is full of charlatans I would just be careful you know I see stuff people like yeah we're gonna go do this in California right well listen I live in California okay and let me tell you right now everybody I know around here knows this to be true. There is a glut of pot in California you know and apart from a selective highly skilled business people who are in the space, everyone else is gonna get killed, they just are there's this is like you know the horse has already left on this one right. People think I'm gonna do CBD in California guess what there's a few people have thought about this before you and if you're coming into this space and you have no previous experience in you know pot in CBD and all this stuff you're gonna be you're way behind. Okay and the last thing is that unless you are a major player like you got serious pockets behind you I would stay away from this because there is there is like so many laws and so many things to dodge in the space. All I can tell you is I have yet to see you know personally you know from anything that I've been you know sent that's in the US in California anything like that I would be comfortable investing in. Okay now I know there's you know startups and things like that and if you want to spend a little bit of money and those from you know people who know what they're talking about I get it but I would definitely look at that as a fairly high risk thing but for heaven's sake you know just don't listen to a Podcast or you know get an email about hey we're gonna start growing pot in California you want in just please think okay. Let's see the next one I'm going to skip oil and gas because I think I have a question coming up about oil and gas here in a moment. Cryptocurrency again listen it's an asymmetric risk type thing shouldn't be your bread and butter thing at all I mean 5-10 percent max in this bucket of asymmetric risk things that could go I mean the reason I do it is a listen, Bitcoin goes up by you know 10x which I honestly personally think it will you know in the five to 10-year horizon I want to be able to to enjoy that. Now it's not something that I would spend a lot more than that on. Personally I only put money in there that you know keeps me from you know it's the money that I would just spend on things that will you know like a fancy car something like that's what I do. Life settlements okay life settlements just as a reminder what are they? Life settlements are when you buy somebody else's life insurance policies, so maybe somebody's you know 80 years old in real bad health they would like money now they don't have any you know they're not worried about their kids don't need any money anymore so you can buy these policies from them. A lot of times that you know 50 60 cents on the dollar which is a much better deal for them than not getting any money or just you know trying to pull out cash value, it's generally going to be more than the cash value so it's an interesting play. We've talked about this before. We actually have a webinar on it at hedgetheeconomy.com if you're interested. So you're investing life settlements, you know you're basically looking and saying I'm a little worried about the economy and maybe I have a self-directed IRA or solo 401k because you know honestly the other thing is that this is not a tax sheltered type investment so you have to think about that as well, you think to yourself I want to hedge I want a small part of my portfolio something that I feel very comfortable is gonna be there. Well out of all the things that are guarantees in life, death is probably the only one that, people used to say death and taxes but you know I mean the president United States paying taxes has no guarantee in life right I mean death is the only guarantee in life so that it might be worth it, check it out for yourself, hedgetheeconomy.com. Now, notes. Notes it's sort of broad. Notes basically being liens on property for the most part, a lot of times that's what it's indicating. It really depends on the operator you know, I would you know look at it as you know if you look at AHP Servicing you know with Jorge’s company I have looked at this in terms of short-term kind of places to put money for liquidity that I can pull out you know if there's a liquid fund like AHP Servicing for example, but I like appreciation and so that's the problem right, so you might get nine, ten percent cash on cash in notes, you might do a little bit better but you know you're not getting any tax advantages. So with multifamily real estate I mean I can still get nine, ten percent cash on cash and then I get twenty percent plus I are ours typically and you know the nine, ten percent I got is tax deductible so it's really the tax equivalent of making like fifteen percent. So you know fortunately if it's me I do equity over any kind of real estate debt and mostly it's because of the tax advantages. Now if you are gonna do it again, look at your qualified money like IRAs, 401ks etc and you know look at a fund. I also think this is one of those things where you really have to look at the operator. I do like Jorge. He's one of the smartest guys I know so AHP Servicing certainly would be something to consider and I so like liquidity the component of this is a nice place to keep it for a period time. And understand it's not without risk either. This is non-performing paper, but again that's where the operator comes in and you know I think Jorge is a really smart guy so I feel fairly comfortable with that. Gold and silver well honestly I don't see the point as I've said earlier, I mean gold and silver are hedge to inflation so this real estate cash flows and frankly I don't believe in the zombie apocalypse narrative that I have heard before you know where you buy that monster box of silver coins which by the way I did because I drank the kool-aid a few years ago and you know there's this idea that you know you're the only thing that's gonna be able to buy anything is a monster box of silver that's the only thing that people are gonna accept. Well I just don't think that's gonna happen so for me why not buy real estate at least you know you know you can force appreciation etc. Now if you're super paranoid on real estate just you know limit your leverage I'm not saying don't own gold a silver I'm just saying think about it before you go and drink the kool-aid on the you know the fear-based stuff there music royalties and we did have a podcast on that honestly I just don't know much about it but you know some people seem to be doing okay with it I wouldn't make this a core holding unless you were in the business and really know what you're doing. I would put this in your high risk profile. Artwork, similar. Listen I like our work is like gold in my view and if you are an art buff and you really know what you're doing then go for it but I'm not. Some people like vintage cars like me to enjoy it and allow it to appreciate. I think art is similar to that right, so it goes into that pile that I've talked about before where it's like if you have an inch you know if you're one of those people who buys stuff you know nice stuff and you know you want nice stuff well art not fine art and vintage cars are fun but they will appreciate so I think art is similar to that. I know we podcast on fractional ownership apart you don't get the same effect because you know get to keep it in your house but you know you do get to they do keep it in a gallery so that's kind of neat however you know what I'm not a big enough art guy to do this so I'm gonna stick to bread-and-butter stuff instead like real estate, websites, online businesses, if you know what you're doing this can be very profitable. The problem is that most people don't know what they're doing and I have looked into these things a little bit on behalf of people and I've been a little suspicious at least if some of the sites they seem like Ponzi schemes to me but I don't know for sure. Okay but if you know what you're doing with this this is a great space I mean you can make a lot you can make a decent money with this. I've done that private lending well private lending you know as opposed to notes I guess you're just lending to flippers and stuff I mean I would suggest that this is not a bad thing to do if you know how to do it. I know if there's some people who do it pretty fairly prolifically in our group here's what I would suggest though if you're worried about the economy or at all and lending the home flippers is probably one of the riskiest thing you can do but how can you mitigate that risk? Well you may just loan at you know fifty percent loan to value right and in that situation if they can't pay you back at least you've got a property that you can take over at 50 percent of the cost right now. I definitely would not be you know doing super high loan-to-value type notes or private loans and then you know obviously there's some stuff like Lending Club and stuff I have not really you know looked into much, but I think some people have where you can do some of that as well but okay so that's the big list of my favorites. Large scale real estate like apartments and self storage and one that you didn't mention on here that we talked about earlier, Wealth Formula Banking. For me that stocks and bonds that's equity and basically a bond a structure for me right and that makes up 90% of my investments right there and then the rest of its you know shiny stuff, asymmetric risk stuff like Bitcoin gives me exposure to something that could explode and make me a lot of money potentially with a small investment, but if I lose it and won't go crying so you know bottom line is that I mean the the moral of this story is keep it simple. I think one of the things that I noticed that a lot of people are doing because of the podcast ecosystem and I'm somewhat to blame for this because they think you know we do put on different types of things but we've really narrowed that down a lot is that my advice would be that what I have noticed in my own investing success track record over the last 10 years is the stuff that makes money tends to be pretty boring right like real estate I mean at least I've done so many things in the last 10 years and you know the thing that keeps paying me is the stuff that's the most boring. So don't go look out look for shiny objects okay don't look for foreign investments don't look for you know crazy stuff when it comes to your bread-and-butter stuff keep it boring right I mean seriously you know you've got a if you're a limited partner you find a with an operator that keeps delivering why are you looking like for 10 different things. Okay I understand there's a need for some diversity but okay maybe two or three different things and maybe similar types of you know you find good operators you stick with them but you don't need like ten of those I mean it's silly right, just pick a few things and if there's some you know stuff like Bitcoin or something like that really interests you and that's kind of fun for you then you want to buy some you know vintage cars or something like that do that, but stay boring. There's an eloquence about boring that I have experienced in the last decade that I can just say from my experience over time it's not as boring when you get those nice payouts. So anyway we still have a bunch of questions and I've been going for almost an hour so I'm going cut it off and there will be therefore a part 3 Ask Buck. But I do want to thank you and for for having all these questions and we will have part three of Ask Buck next time. Thanks for joining Wealth Formula Podcast. This is Buck Joffrey signing off.
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My Entrepreneurial Journey from McDonald's burger flipper to Investment Adviser

I started at McDonald's when I was 17 years old in the hopes of saving up and buying a car. Sadly, this was just about my only significant financial goal for the next 10 years of my life outside of trying to save up for an ounce to save on weed money. I did what most a lot people seem to do today, live life by the minute. I watched tons of shows and put thousands of hours into video games. I worked as little as possible. I'd snicker at everyone and have my stupid little lines when people would point out my lack of career progress. "I work to live, not live to work, man!" In my entire 10 years at McDonald's, I had a surprising amount of opportunity for advancement. I met my best friend here, we started the same week and forged our friendship on the heat of the grease traps, side by side. The difference was, he actually had a little bit of ambition.
Within a year, he was technically my boss as a crew chief. Not much responsibility, not much of a pay raise either, but he proved himself. Within another year he was a shift manager. I was making $7.35 because minimum wage had just gone up. So, after 2 years, I was still only making minimum wage. He had a $2 an hour raise and was up to $9.50 or so. No big deal I told myself, it's not worth the hassle and who wants to work 40 hours a week at a bullshit job anyway?
This would continue to be a pattern. Every year or other year he would get some sort of promotion, and I would stay exactly where I was. He was an assistant manager making $36k annually, then a store manager making $50k after bonuses. He had finally made it I thought. He'd come in and everyone would try to look busy, and I'd just watch him walk back to the office while scraping the grease off the grill for the millionth time. I still continued to delude myself into thinking I was happy as I raced home as soon as possible after a 3-hour shift so I could get back to doing pretend work in my virtual escape.
We still got along great, even hung out after work sometimes still. But his next promotion brought him out of the store and we lost touch around this time. As an area supervisor his pay went up considerably, I never asked what exactly, but he had a company car, and all the benefits you can shake a stick at. Meanwhile, it'd been 8 years or so and I was barely making $8.50 an hour and working 20 hours a week still.

The Bitcoin Bubble

Then I got my first break seemingly on a whim in mid-2017. I had been following Bitcoin off and on for years and noticed somewhat early on it was taking off. I started working a few more hours just so I could buy more bitcoin. I bought a total of about $1,000 and made over 10x that. Then I invested in some smaller alt-coins at the right time and made another 10x. For the first time in my life, I experienced financial success. Video games no longer mattered; I had found a new game and it was a lot more rewarding. I spent all my free time researching investment strategies for cryptocurrency. Then it all came crashing down.
So I had made capital gains of over $100,000. Awesome right? Well, it would have been if I hadn't lost half of it thinking the market would pick back up. And you owe taxes on the full gains even if you lose half of it. You might think still have about $50k, and I would have if I hadn't spent all but about $5,000 on renting a nice house, weed, prostitutes (I'm not even proud of this, if you'd seen the quality in my area you wouldn't be either), clothes, and the beefiest home computer money could buy. I had made $100,000 in the matter of a couple of months, I went a little nuts okay? So $5,000, that's plenty to pay your taxes right? At my current financial status, I'd be homeless in 3 months because my rent was way more than I could afford.
I had some work to do. Making money on cryptocurrency investments was seemingly over, so I looked to traditional investments. I opened a Robinhood account and was doing okay. It's very different from the wild days of Bitcoin though, no 1,000% gains in a matter of weeks. I was lucky to get 5%, and my McDonald's wages were laughable as always. This just wasn't going to cut it, at this rate I'd be in jail in a couple of years for not paying taxes…
So I had a new set of skills, maybe I could take advantage of it. I was actively making money on investments and I had learned so much in the last year about investing. I was much more familiar with the jargon and I could actually hold a conversation about the subject. I knew more about investing than anyone else I knew personally, at least. Then I took these skills and did some research for jobs in my area on this job search site. I was amazed to see the kind of salary I could get with some of the skills I had been working on.

Digging My Way Out of this Hole

It took me a few weeks to put this together in my head. At first, I thought "Okay, I'll go to Community College and then transfer to the university and in a few years I can get one of these trainee positions at Wells Fargo." Then I remembered Uncle Sam was lingering overhead with the $20k that I owed him. I didn't have time to do things the right way. So I did things a different… way.
I planned it all out. I got my Master of Finance degree in about 2 weeks for $180 from this company that prints diplomas. I was actually really impressed by the quality and customization options. They pretty much put whatever you tell them you want on it, so I made sure to do some research and put something that will hold up to a little scrutiny. I really considered just making a website for a private university, so I put together a limited budget and a list of things I'd need and went to have a few web designers bid on it. I was informed by a really nice team that this wasn't really a possibility since getting a .edu site isn't going to work. I was pleasantly surprised because if the tables were turned, I can't say I wouldn't have tried to milk me for every dime I had.
I spent all my free time taking courses on Skillshare and read some highly recommended books from Charlie Munger that I found on /investing. I was absolutely determined to pass myself off as someone who had years of education and experience in the field. I even watched the movie "Catch Me If You Can".
Then I shifted my focus, I was sure I had the basic know how to pass myself off as an "expert". Now I needed to just wow them into not digging too deep. I needed to have a stellar resume, knock their socks off in the interview, and the part I hadn't figured out yet believable references. I used this site to make a really nice looking resume. I didn't hold back on my qualifications either. I was going all out and presenting myself as the perfect candidate, well deserving of the position and the salary it commands.
The professional references problem was actually the biggest wall I hit. At first, I thought I could have my friends do it, but they're all a bunch of McDonald's lifers like me and it would be immediately obvious they weren't the executives they were supposed to be. I thought about having my area supervisor friend help, but he'd only be 1 guy and we weren't as close anymore. It's actually asking a lot of people. Then I found a site that does exactly this as a service. I was skeptical at first, thinking they probably weren't native English speakers, or wouldn't sound any more professional than my friends would. So I reached out and asked if we could do a call to get a feel for them. They gave me the number, a US number I might add, and I called. A young woman picked up and answered "Office of Mr. Suchandsuch, how can I help you?" I smiled ear to ear, I knew then and there I might just be able to pull this thing off!
I finally felt confident about it all and I really needed this confidence boost, because I was about to be sitting in a room with lifelong professional investors and convince them to give me a hundred grand a year when I spent the night before cleaning puke in the bathroom at the McDonald's across town.
So to give myself the best chance, I knew I was going to have to apply to a lot of places. I submitted my resume for over 50 different positions and I got interviewed at well over half of them. I halfway expected to not get any calls at all, I thought "Surely it can't be this easy to become an executive investment consultant." So I rented a nice suit for all the days I was interviewing, I actually had a hard time keeping track of which places I had to be at and when. One day I went to 4 different interviews. I rented a nice suit and hoped no one would see me get out of my 20-year-old beater car. I interviewed at banks, investment firms in tall buildings, and even remotely for smaller angel investment groups.
Then it happened. I got my first conditional job offer. I was already thinking about how I could negotiate the salary while I was reading the offer then it hit me like a sack of bricks. "This conditional job offer is extended to Gary Newman, it's contingent upon the candidate successfully passing the background check. Background information such as criminal and driving history, plus credit reports for some jobs will help to determine if the candidate is qualified to do the work." My stomach sank, I'm going to jail, "There's no way I'm going to get a job or pay all these taxes." I told myself. My first thought was to run, the guy from Catch Me If You Can managed to stay on the run for years and years, no that's stupid. Don't fold your hand just yet. Only one so far has said anything about a background check.
So I called them and withdrew my application explaining I had taken another offer that I couldn't pass up. They understood, and I hoped they wouldn't take it any further. So for every place that said anything about a background check, I just withdrew my application and thanked them for their time. It was far from a perfect solution, but my back had been against the wall for so long now I was starting to get used to it. I wondered if all this effort was for nothing, I was so stupid for not thinking about background checks. Surely all of them would do them, right? They're cheap and it weeds out little scumballs like me.

Laziness Creeps Up Even the Tallest Towers

Lucky for me I was wrong. Not even half of the companies I applied for did background checks or if they did, they didn't do it very thoroughly. I was flabbergasted. So I negotiated with the 6 job offers I ended up with, out of over 50 that I applied to. I was very happy with the numbers, especially with the salary I was being offered. I negotiated up to $105,000. Not bad considering the year before I had pulled in a whopping $7,000.
I saved as much as I could and worked as hard as I could. This whole experience had taught me so much. With enough effort, it's pretty incredible the kinds of things you can pull off. I still sweat every day thinking someone is going to find out and I'm going to lose it all even though it's been over a year. I just tell myself all I can do is work hard and try to be so valuable that they won't care if they ever do find out. And who knows? Maybe this writing thing will help me write a book while I'm in prison. For now though, when the couple of closest friends who know the story of how I went from a burger flipper to an investment executive overnight ask me how Vandelay Industries is? I tell them in my best Costanza impression: "I can't complain!"
submitted by Annoyingquestion to Entrepreneur [link] [comments]

Why Kin is the Next $100 Billion Company (by Lee Lorenzen) 🚀🚀🚀

by Lee Lorenzen The man who said -in 2007- Facebook valuation should actually be $100Billion !
"I predict the market cap for all of the KIN tokens deployed during the next 5 years will exceed $100 Billion. This outcome may not have been the expected result of a "Dr. Evil-like" plan by Kik Interactive's CEO Ted Livingston but it will demonstrate to the world a genius-level method of customer acquisition and wealth-creation using a token-powered eco-system.
Before dismissing this prediction as hyperbole from a KIN fan boy or the pipe dream of a Kik founder, please read this entire post to understand why Kik is not only going to be worth that lofty valuation but it is also showing how other startups can use their same DAC -powered DAO technique to crystallize consensus, coordinate collaborations and change the world. In addition, you many want to read this supporting post on the why the author's next $100 billion prediction is credible >> https://kincoin.com/blogs/daily-kin-blog/why-the-authors-next-100-billion-prediction-is-credible
KIN will have 8 trillion of its 10 trillion tokens deployed and fully tradeable during the next 20 quarters. These 8 trillion tokens will be worth more than $100 billion and this means that Kik Interactive's market cap will also grow in value to more than $100 billion. The reason for this linkage is that Kik will benefit from the deployment of over $40 billion of KIN Rewards that will go mostly to supporting of the Kik Messenger platform and related Kik-owned services. This $40 billion represents $20 per customer that can be used to reward KIN developers who help Kik get to 2 billion users using their services (i.e., on par with Facebook's 2 billion users which they monetize at a level justifying their current market cap is $500 billion).
The following chart shows one method of achieving the $100 billion valuation based on 24% year over year growth. However, due to the special dynamics of a DAC-based token system coupled with a set of blockchain-constrained maximum allocation rules, this price may actually be achieved earlier than the 20 quarters shown below. https://kincoin.com/blogs/daily-kin-blog/why-kik-interactive-inc-is-the-next-100-billion-company
The following chart shows the KIN's price per token growth over these same 20 quarters. https://kincoin.com/blogs/daily-kin-blog/why-kik-interactive-inc-is-the-next-100-billion-company
The following chart shows the effect of the timed-release of the tokens assigned to Kik Interactive and to the Kin Rewards Engine. https://kincoin.com/blogs/daily-kin-blog/why-kik-interactive-inc-is-the-next-100-billion-company
While these are just predictions which anyone could make, the rationale for them is provided below along with the history of the author's last prediction about a company being worth $100 billion 5 years prior to their IPO.
What if the Little Red Hen could have ensured that everyone helped her?
In the classic children's book, the Little Red Hen ends up mad because she had to plant her wheat, harvest her grain, grind her flour and bake her bread all by herself and then must deal with her neighbors' requests that she share with them her loaves of bread -- even though they all refused to help her when she needed them the most.
Imagine if instead of doing all the bread making work herself, the Little Red Hen had created 100 tokens that she could pass out to her helpers with the promise that they could later exchange the 1 token that each earned for 1 loaf of bread. In this case, she would have had "paid helpers" to share the workload and thereby avoided the need to do it all herself and created a fair allocation method for the wealth that she envisioned as the entrepreneur and that she and her team created.
This is an example of how a token-based currency can be used as a startup funding source and as the payoff mechanism for virtually any Dominant Assurance Contract or DAC (see the key paper on The Private Provision of Public Goods via Dominant Assurance Contracts here: https://mason.gmu.edu/~atabarro/PrivateProvision.pdf by Alex Tabarrok from 1996 that explains in academic terms how his DAC invention works).
A DAC improves on the familiar Groupon "deal tipping" concept (i.e., a plain old Assurance Contract) because with a DAC the Groupon-like deal not only tips (i.e., creates a "winning payoff" for all members) when a threshold number of participants sign up in the required time but also provides for a smaller but still valuable “failure payoff” to each participant who merely signs up even if the minimum participation threshold isn’t reached.
This guarantee of a “failure payoff” causes more folks to take the time to sign up (even if they believe the chance of the deal tipping is a long shot) because their act of signing up is compensated by the “failure payoff.” So, all that is needed to make almost any deal tip is that the group value the “failure payoff” enough to warrant their time in applying for the “winning payoff” and that there be someone who is credible enough to back the “failure payoff.” (NOTE: Tabarrok calls this person the “Entrepreneur” but I prefer to call this person the "Sponsor" because it may be that this funding partner is distinct from the Entrepreneur who is typically more focused on delivering the "winning payoff").
A side-benefit of the DAC structure is that if the deal tips the “failure payoff” is never paid. This is important because it allows the Sponsor to be generous in the creation and size of the "failure payoff." Using our Little Red Hen (LRH) example, the Sponsor might guarantee that 1 LRH token is worth either 1 entire loaf of bread if and when all the necessary workers sign up, do their parts and the planned-for outcome is achieved or 1 cracker to be selected from the Sponsor's cracker barrel if and when the LRH eco-system fails to create enough loaves to cover the total obligation represented by the issued LRH tokens.
Like any form of money, the Bitcoin eco-system relies on the “collective acceptance” and “collective intentionality” of the participants. Thanks to Satoshi, Bitcoin has given the world a new “man on the moon” moment in that many new things now become possible because the Bitcoin global experiment has worked. Specifically, huge value can be created without the ongoing support of a competent, visible, human being actively driving the process forward (i.e., there is no CEO of Bitcoin who has to hire a team and manage a company).
To use a construction analogy, Satoshi was an architect who used his Bitcoin white paper to document his vision for a new type of skyscraper. The white paper also provided the rules for an eco-system of individuals whose collective acceptance of his vision of the completed skyscraper (and the future rents that it would generate) provided the ongoing funding mechanism necessary to reward the workers who choose to help build the skyscraper. While that may seem like an unlikely leap of faith on the workers' part, we are comforted by the fact that in the real world Bitcoin's market cap of over $87 billion has been built based on a similar belief in a shared vision by tens of thousands of individuals who chose to spend their money and time as miners to earn a future reward.
When a sufficient number of participants commit to help and/or actually help out they are given tokens that will deliver to them the “winning payoff” when the grand vision is realized. In the meantime, late arriving participants to the system are allowed to increase their number of tokens and therefore their relative stakes in the eco-system by using cash to buy tokens directly from current token holders. This provides early monetization opportunities as a type of “failure payoffs” to those who have already earned tokens but who don’t want to let their entire holdings ride until the ultimate determination of the “winning payoff” amount.
The genius of Satoshi’s model that wasn't demonstrated directly in the Bitcoin example is that the rewarded activities don’t have to be solely related to token infrastructure management (e.g., paying hardware miners for solving the math problems needed to update the blockchain). They can also be directed to reward activities that support the actual growth in the size and utility of the startup’s eco-system. The Kik.com launch of the KIN coin is a great example of this.
Total supply of Kin: 10 Trillion units
10% allocation: 1 Trillion units will be sold in the Token Distribution Event (TDE) and be used to fund Kik operations and to deploy the Kin Foundation and to execute additional features development planned for the Kin to integrate into Kik. The company will sell 1 trillion Kin tokens for $125 million through the TDE. Of that amount, $50 million has already been sold in a pre-sale, which received a 30% discount, comprising 488 billion Kin tokens (investors included Blockchain Capital, Pantera Capital, and Polychain Capital). The rest will be sold for $75 million during the TDE, comprising 512 billion Kin tokens.
30% allocation: 3 Trillion Kin will be allocated to Kik as the founding member of the Kin Foundation. In exchange, Kik will provide start-up resources, technology, and a covenant to integrate with the Kin cryptocurrency and brand. They will be unlocked and distributed to Kik at 10 percent per quarter, for 10 quarters.
60% allocation: 6 Trillion Kin will be under the purview of the Kin Foundation, locked under the Kin Rewards Engine scheme and will be used for the growth of the Kin Ecosystem and fund the operations of the foundation.
These are: – administration of the Kin token supply and Kin Rewards Engine – 57% – marketing – 1.5% – operational costs – 1.5%
The 57% allocated to the Kin Rewards Engine will be introduced into circulation as periodic rewards. Every year, 20 percent of the remaining rewards allocation will be issued as periodic incentive payments, diminishing over time as the currency gains overall value.
Kik == $100 Billion Company Prediction Given the fact that KIN is being dropped into an eco-system of hundreds of millions of Kik messenger clients, my belief is that Kik will become the next $100 billion company based on the strength of KIN and that KIN will have at least a 10x growth from their TDE price. If one doesn’t participate in the KIN TDE or buy KIN with cash shortly thereafter, the smart play is to start doing things to grow the Kik platform and earn your share of each day’s worth of KIN allocation.
Ted Livingston is the genius CEO of Kik who, along with his advisor William Mougayar, explains here how this will work:
What interests me most about this model is how the Kik Messenger app becomes the beneficiary of an army of participants in the KIN eco-system with no dilution from either the KIN token distribution event or the Kik-friendly token distribution system. This represents a very entrepreneur-friendly method (i.e., 0% dilution) of funding any startup that requires a large number of financially-motivated participants (i.e., the people we used to call employees, contractors vendors and sometimes even customers) with a cash alternative that comes from these early participants’ belief in the future value of the currency.
Something similar could have been created in a traditional Silicon Valley startup but all the employees would need to receive only options in the company (i.e., no cash salaries) and they would have to wait for their “winning payoffs” to occur via an IPO. In addition, there would need to be something like a pre-IPO, secondary-market in this startup's options that would allow the employees to cash out a little bit of their equity along the way to pay their bills. Although the SEC won’t allow such an option-only, compensation approach for US-based startups, Satoshi and Livingston have found a way around this.
Kudos to them and kudos to those of us who find a way to apply token-powered DACs to our attempts to crystallize consensus, coordinate collaborations and change the world."
ADDENDUM (by Bobikin) Kin is really impressive ! It is too bad that the team doesn't show more respect to the ICO contributors. Many of us feel that we have been misled and don't appreciate to have been considered as cash cow, then treated as flipper... Personally I really don't like how mods censore some posts, or ban some people from Telegram ! *
submitted by bobikin to KinFoundation [link] [comments]

I'm a very experienced investor. Heres what I think Xtrabytes.

Disclaimer: do your own research , I don't own XBY. At least not yet. I mean this.
Little about myself. I grew up spending alot of time with my best friend who lived close by. Literally been hanging out since we were 3.
His father worked on wall street as a treasurer. High strung guy, and very old school. Always had the wall street journal on him, and would always take us to the meadowlands racetrack . TheBigM. Horses ya know .
He taught us how to read markets and bet the races. Always stating never to make quick moves just because it looks good. He even gave us the heads up to sell all our sports cards before the market crashed. He had an insiders tip.
1 week later, the market tanked and took just about every sports card shop with it.
Okay enough of this nonsense, I'm experienced but not necessarily super successful because I never really invested in the stock market other than Microsoft in 2000, I cashed out too early. $25k for a 23year old was alot of money.
I grew up around bookies, compulsive gamblers, day traders, card sharks, real estate flippers, business owners and just plain out wackaloons . ive seen a ton of mistakes. I also got in to Crypto in March .
Ive seen so much happen since then . What im seeing now sucks. All these coins popping up everyday gaining so much and they don't even have a working beta. Some are flat out lying to us, its disgusting.
I do know one thing when I see it. Xtrabytes is a real project . You have invested in a great team. They will deliver. Again, do you own research.
Unfortunately we may or may not have much of a market in a few months due to all the saturation. However, I know the point it takes to start being oversaturated and even last month during the huge Spike, the market wasn't over-saturated. Not yet it has to reach that peak before it totally tanks so I think everybody is good for now , and I think if you are going to see massive gains when and if the msrket recovers. This project will be one of them.
In highly skeptical of projects . My only loss today is with AppCoins and Gifto. I bought in at 1.20 with APPC, and .37 with GTO.
Other investments were Ripple at .01 , .13, and .25
Smart cash at .005 <---lucky buy in time
Byte balls at $100, and Monaco at .87
An Early Bitcoiner, a customer of mine bought an apartment building in Jersey City with Bitcoins. He actually took a loss with it. His BTC was worth 700 each at the time. Lol. Hes the one who got me into this.
All I can say is, I did heavy research on this one. I'm not gonna list everything, but the point here is to give you the heads up enough so to make it interesting enough to take up your time to research this.
Every time I finish research I give him a call to ask him his opinion. He said "XBY" is a big green light . thats all I need to know.
Its time for me to go into this one. Buying in now.
Go extrabytes
submitted by JuicySpark to XtraBYtes [link] [comments]

Mentallity of Bitcoiners&Herd Psychology

I got sick of these people lately,its not about just bitcoin censhorship or who owns blockstream,its more about what most of holders of bitcoin thinking.They want more power,they want more money,they want to go to the moon.
This is what we call power intoxication,which we can see in any part of history with governments or organizations or anything.They attached bitcoin so much that they can't even considering any other thought without prejudice.They earned a lot,they want to earn a lot more,they dont want to work anymore.
Its their PONZI SCHEME in their heads.All that "BTC IS THE KING" bullshit reminds me what i most hate in life.I bet 90% of them knows nothing about blockchain tech or what was bitcoin in 2012,what it was supposed to be,and what its becoming now.
I am not blindly into BCH,if tomorrow miners gonna centralize this coin,i will start to puke my hatred into them too.But its sooo easy to see this forums subculture,there are people like me,who thinks about cryptocoins as a revolution,there are flippers,scalpers,any kind of people as it should be in a mix society.But i can generalize btc holders so easily(i hate generalizing)
Only option to chrush this mentality is to shatter their dreams onto their heads,if btc goes down,you will not believe how many people start to shit about it.Its the nature of herding people,they are backing btc because btc goes up,btc earned them money,once this flippening happens,kansas is going bye-bye.
Stay strong.
submitted by d4ddyc00l to btc [link] [comments]

Writing Project Charlie I

I know I’m required to write this down, otherwise I might be here forever. Let me apologize for any errors, confusion, nausea or vomiting, epileptic seizures, trouble sleeping, or any other side affects you may experience from reading this novel. If someone appears in your dreams claiming to be me, please notify the nearest member of the Mushroom Cult. An imposter armed with Twitter bots is on the loose. Be warned, he only has ill intentions.
Okay, here I go.
I was wandering through the woods when that gang of minion bears ambushed me. Honestly, if this whole thing is anyone’s fault, it’s those responsible for my false imprisonment, and that damn lawyer for drafting me into the labor force. Maybe then, we could have avoided the whole apocalyptic end-of-the-world situation.
But I’m getting ahead of myself.
There I was walking peacefully, lawfully, and responsibly through the woods. I don’t remember walking into any woods, and I know for a fact there are none in the area I live in. I just suddenly found myself strolling under the thick ceiling of these large pine trees. It was as if I had just woken up and started walking.
What I do remember is avidly enjoying myself in my new-found surroundings, the scent of pine was thick. There was a cool breeze that made the air comfortable. Sunlight could barely penetrate the trees, and a low fog added to the mystic of these woods. Pine needles crunched under every step I took.
I was drifting aimlessly through these woods observing the trees. I touch one of the trunks, and my eyes followed it to the top. The unusually wide branches made it impossible to see the top of the tree. It seemed to stretch on forever. I could barely see the sky. The voices in my head whispered, this place was extremely curious.
I moved past the tree, and stopped to observe a growth, not twenty feet from the base of tree I had touched.
I bent down. What was growing was a short mushroom, maybe three inches tall. It was bright red, with white spots dotting the top. It shined in the darkness of the woods, reflecting any sunlight that was strong enough to reach the ground.
It was beautiful. The voices in my head became exuberant; they all agree I should pick it up. As I went down to pluck it from the earth, just before I touched it, a sharp cry, in a language I could not understand, pierced the air.
I turned around. There were six bears. Well, at least I assumed they were bears. All of them were under three feet tall. If Chewbacca had married a midget, sorry, little person, these guys would be their children. As hilarious as they looked, they were all fully armed with swords, metal body-armor, and helmets. I froze, puzzled, meeting their gaze. What I assumed was the leader was one-step in front of the other bears with his paw extended pointing at me.
I wasn’t all that surprised by that sight. I’ve seen a lot, and I mean A LOT, of strange things. This event made more sense to me than what I’d had for breakfast that morning, which I hadn’t remembered eating.
Five second pasted in this standoff. Tension was building in the air. The leader never lowered his paw, and again bellowed that God-awful cry.
I made a face of disgust. This was obnoxious and annoying. It was really putting a damper on my whole nature/forest experience.
“Right back at you buddy.” I said, giving him the finger. I turned back down to pick up the mushroom, that I was sure was trying to give me all the answers to the universe. The moment its stem left the soil, all hell broke loose.
“AH! AH! AH! AH! AH!” chanted the bears.
As I turned back around, they charged me from a distance of thirty feet. Not once did their chant cease.
Before I had a chance to run, brace myself, or even pocket the magic mushroom, the gang of bears jumped on me. Knocking the mushroom and me to the ground, causing my head to bounce off of a tree root. That hurt, I’m pretty sure I was bleeding. The voices in my head were down for the count.
These toddler-sized furries were now crawling all over my body. One of these annoying little pricks was right in my face holding down my shoulders chanting, “AH! AH! AH! AH! AH!” Its breath fogged up my glasses. The whole time they were tying me up with a rope. I got really annoyed with the bear in my face, and started chanting back at him, “AH! AH! AH! AH! AH!” I yelled back at him much more forcefully. He scurried down my body away from my face.
Before I had even a minute to realize what was going on, the bears had me completely tied up. They left a loose end of rope at my feet so they could drag me.
The leader started speaking gibberish in a very authoritative tone. The persistent chanting stopped. He was now barking orders at his subordinates, who quickly jumped to action. All six bears were now dragging me over their shoulders with the leader taking the front.
Apparently, they have a chant for dragging people that is different from their attack chant.
The leader started it off, “MA! MA! MA! MA! MA!” The rest of the bears followed suit in cadence. They began to pull me.
I didn’t say a word. I didn’t want to give these heathens any satisfaction for their work. I worked my hands out of the rope enough to stick both of my middle fingers up. The bears had no reaction to my gesture.
Occasionally, I would do my best to throw off their chanting rhythm. I would yell, “MA!” at instances where it wouldn’t line up with the rest of the chant. It worked a little, a couple of those savages got thrown off and confused.
I stared up at the roof of the woods. I still couldn’t see the tops of the trees and could hardly see the color of the sky. I think it was pink.
The small, hairy militia pressed on. I lost track of time, but eventually I could see the sky, it was pink. I was out of the woods. I could no longer feel pine needles drag under my back, soft grass had taken its place. The trees had disappeared.
From the ground, I hadn’t a clue where I was, or what my surroundings consisted of, but after my imprisonment, in later events, I got a lay of the land.
I had been brought into the realm ruled by the power known as the Toilet Wizard, ruler of the bears. (It is unknown to me why the Toilet Wizard is called such a thing, or why he is the ruler of the bears. It is said he is undefeated in Wii Sports Bowling, with a record of 456-0.)
The Toilet Wizard’s domain consisted of a circular clearing, surrounded by a wall of trees. The circle had a diameter of about half a mile. In the center was a hill where a small castle, about the size of a small supermarket, sat on top. It was square, with four towers in each corner. It was made of an ancient gray stone.
I of course at the time knew none of this. I just knew six armed bears, who were now dragging me up hill, had kidnapped me, which I assumed was due to the mushroom.
Once at the top of the hill, the bears stopped their chant. They had brought me to the portcullis of the castle. Which is just the gate. It was currently raised.
The bears stood me up, and in one motion, freed me of my bondage. Before I could enjoy my freedom, four new bears appeared and worked quickly to restrain my wrists behind my back. Two bears then grabbed my arms and led me inside the castle.
We immediately took a right. The ceiling was low, and the hallway was dark. The only source of light was the small ember emitted from the torches hanging on the walls.
The walk down the hallway took forever. The castle wasn’t that big, like I said before, it was about the size of a small supermarket, but we walked straight down that hallway for six hours. I remember glancing at my watch for only a second before being restrained. It had been 4:10pm when we began the walk. By the time we approached a small wooden door at the end of the hall, and I had been tossed into their dungeon, it was 10:13pm.
I had been more or less shoved into this dark, windowless room. Like the hallway, only torches hung on the walls. I was laying on my face trying to recover from being thrown into prison. Luckily, the bears had removed my restraints before locking the door with a loud bolt.
My feet ached from the walk so I sat against the stone wall. At this point I noticed I had two dungeon mates. One was obviously a knight, dressed in full chainmail armor, and had a helmet that hid his face. I thought he looked like he could’ve had a role in Monty Python and the Quest for the Holy Grail. He sat with his back against the back wall of the room.
The other prisoner was a full-grown minotaur. He was sitting down, but he looked like he was easily seven feet tall. He only wore a clump of furs and leathers held in place by a giant metal belt around his waist. His upper body was massive, rippling with muscles, like Arnold Schwarzenegger in his prime. The horns of his bull head were sharp and curved. His snout was pierced with a gold ring. He sat adjacent to the knight, his legs criss-crossed.
“What’s up?” asked the Minotaur, his voice sounded surprisingly human. He sounded like he could have easily had said to me, “Hi, welcome to Chili’s.”
“Hey” I said with a quick wave. I cracked a smile. I was hoping my time spent in this dungeon wouldn’t lack good conversation.
“I’m Dave.” said the Minotaur, pointing to himself. “That’s Groggoniche.” He pointed at the knight.
“Russ” I said pointing at myself
Groggoniche gave a casual wave, but he didn’t say anything.
“What are you in for?” asked Dave.
“Taking a walk, picking mushrooms I guess.” I said casually. “What about you?”
“Unpaid parking tickets.” Dave looked a little embarrassed, but threw his hooves up as if to imply, “What are you gonna do?”
“Bummer, what about you man?” I motioned towards Groggoniche.
“I got stopped again last night coming home from an office party. This is my fifth DUI, I’m fairly certain they’ll bathe me in fire again.” Groggoniche said this very grimly.
“It happens to the best of us.” assured Dave.
“Where you from?” asked Groggoniche.
“Dallas” I replied.
Groggoniche laughed, “Ha ha, I’m sorry.”
I was offended, and became defensive, “Why? Where are you from?”
Groggoniche chuckled again and said smoothly, “Ha ha ha not Dallas.”
“Oh.” I said flatly.
Dave, in an effort to reignite conversation, asked, “Does anyone watch Game of Thrones?”
Before I could even comment, a whole army of bears had charged the dungeon door. They were like angry ants, moving in unison.
“Oh great.” said Groggoniche, sinking his head.
The bears swarmed us. Chanting in gibberish as usual. We were all led out of the dungeon and into the hall. It was a frenzy of fast paced chanting as we were walked down the hall. This time the trip only took around thirty seconds.
We turned left and were chaperoned into a large courtroom. The light was surprisingly bright. The carpet was gray; the whole room was furnished in a polished pine, assumedly cut from the surrounding forest. The “ceiling”, if it could even be called that, had no light fixtures, it was like staring up into space. I could see stars and constellations, and I even saw a comet whip by from the far corner of the room. The entire universe seemed over-head.
The jury box consisted of bears of all sizes. Some smaller than the ones who attacked me, and some larger than grizzly bears. They roared and hissed as the three of us made our way down the aisle.
We sat at a table before the judge. A plaque posted on the front of the judge’s bench read, “THE HONORABLE TOILET WIZARD. RULER OF WEST WUSSELLWAND. CHAMPION OF WII SPORTS BOWLING.” Sitting in the seat was a short old man in a purple bathrobe, his skin pale and worn. His hair and beard were a sharp, silver, long, and unkempt. He wore wire-framed glasses that were hidden under the shade of his tall blue wizard hat. He seemed incredibly agitated with the three of us. His icy stare seemed to cut through us as we took our seats. Tension was building, and I began to sweat.
After three minutes of the silent, agitated gaze from the Toilet Wizard, and the continuous uproar of the bear jury, our lawyer appeared.
The doors swung open dramatically, making a loud banging noise. A middle-aged man, wearing a navy-blue wetsuit, began power walking down the aisle to where the three of us sat.
“I’m so sorry your Honor” began the man, “those damned school kids held me up again.”
The Toilet Wizard let out an impatient huff. He was not at all amused with me, Dave, Groggoniche, or this estranged man who was late because he was being mugged by schoolchildren.
Our lawyer opened his palm towards the Toilet Wizard, fingers extended, “Five minutes, please! Let me council my clients.”
The Toilet Wizard motioned his hand forward, looked up annoyed, he hated being there.
The man shook each one of our hands, he seemed to be in a hurry. “How ya doing boys, I’m here to get you out of this. All you boys have to do is follow my lead; no one is going to get eaten by the Pit Lizard on my watch!”
“What?” exclaimed Dave. Panic flashed across his bull shaped face. He was trembling. Groggoniche dropped his head at this talk of the Pit Lizard.
“Hey!” yelled back our lawyer. “Don’t you worry; you’re all going to be just fine!” He pulled out three cards, and handed us each one. “I’m a professional!”
I looked at the card. It read, “Richard Waterpants, Attorney at Law. Specializing in Pit Lizard Defense.” I had no idea what a Pit Lizard was, but based on the looks of Dave and Groggoniche, I really hoped that Attorney Waterpants knew his stuff.
“Everything we need to get you out of this is in this briefcase.” Attorney Waterpants slammed a briefcase, that I had not noticed he was carrying, onto the table. “By the end of this, all four of us will be drinking Pomegranate La Croix on the beaches of the Magenta Sea.” He seemed extremely confidant, which lifted my spirits, and ended my sweat.
“Why are we all being charged together? What am I being charged for?” I demanded to know.
Our lawyer chuckled, “Yeah, right, like you don’t know. All I can say is I’m really glad I’m not you.” He slapped me on the back. “All three of you are being tried together because it’s the end of the year. The Toilet Wizard is trying to get everyone through the system. It’s either get tried together, or run out of time and face the Pit Lizard without trial.” He pointed at me authoritatively, “They’re doing you a favor pal.”
The Toilet Wizard spoke in a language I could not understand. His face red, we had obviously exceeded his patience.
“What is he saying?” I whispered to my attorney.
Waterpants’ face turned white, “You can’t understand him? Oh Christ!”
He reached into his pocket and pulled out something wrapped in cling-wrap.
He quickly unwrapped the plastic. What was inside was absolutely horrid. It appeared to be a PB and J sandwich, only it was green, dotted with mold, and it reeked of what smelled like gasoline. As I opened my mouth to ask questions, Waterpants shoved the whole thing into my mouth, and made me chew it.
I nearly puked, but I managed to swallow it. The room began to spin; the voices in my head were in a panic. I was sure I was going to fall out of my chair. I grabbed the edge of the table to keep myself grounded.
After about thirty seconds of this misery, the room began to focus. The voices silenced. I could hear the jury. They no longer spoke their gibberish language, “FEED THEM TO THE PIT LIZARD!” they cried.
The Toilet Wizard banged his gavel, “Enough of this delay! The Pit Lizard grows hungry!” The jury box cheered at this statement.
“Your Honor,” began Waterpants, “my clients are being held on charges that should be considered criminal!”
“They are criminals!” yelled the Toilet Wizard. “The knight is being charged with his fifth DUI this year!”
Groggoniche crossed his arms and shrugged.
“The Minotaur hasn’t paid a single parking ticket since 2005!” The Toilet Wizard pointed his gavel at Dave.
Dave looked embarrassed. The Toilet Wizard then turned his attention towards me.
“And you!” his angry gaze was sharp and pierced my soul, “You stand accused by the World Window of bringing eminent destruction to the entire Realm of Wussellwand!” There was an uproar from the jury following this statement. I hadn’t a clue to what I had just been accused of.
“My client is completely ignorant of this accusation!” Waterpants sprang quick to my defense. “He was found wandering in the woods, causing no harm or destruction!”
“Trespassing! He was trespassing! Not only that, but on my domain!” The Toilet Wizard was fuming. “Regardless of his current or past intentions, the World Window has spoken! To question the World Window is a crime punishable by Pit Lizard as well!” The Toilet Wizard bent down behind the bench, and emerged with a computer monitor. Silence fell within the court.
He faced the monitor towards the court, and slowly, Windows 95 began to boot up on the screen. After a long pause, that seemed to last an eternity, a desktop with a background picture of the Toilet Wizard in sunglasses on a beach appeared. There was only one icon on the screen. A word document.
The Toilet Wizard clicked on the document file. The file opened a page with a single line, typed in comic sans, number twelve font, “Russ Jackson will cause the apocalypse ;)” I was wildly confused. The jury gasped. My lawyer turned white.
“Indisputable evidence!” the Toilet Wizard swung his arm back and forth punctuating each word. “What say you?” The Toilet Wizard slammed his hands a top the bench, red with rage.
“One last piece of evidence, your Honor!” Waterpants was sweating as he faced the briefcase to open towards the Toilet Wizard. He flicked open the case. The only thing inside was a crumbled-up piece of paper with “Lol No he didn’t” written in sharpie.
There was a roar of fury from the jury; they simply could not cope with this somehow groundbreaking evidence. My lawyer smiled weakly at the Toilet Wizard.
The Toilet Wizard snarled his face in disgust. “And where did this so called ‘evidence’(He used air quotes around “evidence”) come from?”
“From the high prophet Bernicus, leader of the Mushroom Cult, reigning world champion of Rock Band.” Waterpants seemed desperate.
“Bernicus” pondered the Toilet Wizard, leaning back in his chair, “these are his words?”
“Yes!” cried Waterpants. “Upon the trespass arrival of the human” he pointed towards me, “the prophecy was declared.”
“The World Window and Bernicus conflict!” announced the Toilet Wizard, spreading his arms wide. “There is much to be considered! I must ponder this!” the Toilet Wizard closed his eyes and began to rub his temples. Silence once again fell upon the court.
After ten minutes of silence and self-reflection, the Toilet Wizard sprang to life. “Labor!” declared the Toilet Wizard. “The human, among these two other heathens, will not be fed to the Pit Lizard!” The jury let out a very disappointed cry. “Fret not!” cried the Toilet Wizard, “the human, the knight, and the minotaur, will all work within the southern BitCoin mines for the next one-hundred years! Death will not come to any of them! Hard labor will prevent them from any wrong doings!”
“Yes!” said our lawyer, putting his fist in the air in victory. As long as we weren’t fed to the Pit Lizard he considered it a win. “Pleasure serving you boys and good luck!” he shook each one of our hands again, grabbed his briefcase, and sprinted out of the courtroom, with his flippers slapping the ground.
Dave and Groggoniche look sick. They were not as thrilled by the verdict as Waterpants was. Groggoniche sank his head, Dave looked like he was going to be sick. I was sweating again.
“The chances we survive the first week of working the mines are slim, I’d feel better taking my chances with the Pit Lizard.” said Dave.
Groggoniche let out a sigh, “Man I really wish they’d just peel my skin off, like they promised to do last time.”
“Rise!” demanded the Toilet Wizard, pointing at us. We all stood to attention. A gang of bears entered the court. “Take these workers to the Southern Stop! Issue them chariots to aid in their journey!” The bears seized us, and we were taken out of the court.
Although I knew I could understand the bears, they said nothing as we walked down the dark hall into an even darker room. The room was pitch black. I had no idea how big the room actually was.
A bear flipped on a light switch, a spotlight shone in the center of the room. Three BMX bikes were sitting under the light.
“Chariots” said one of the bears pointing towards the bikes. Another bear approached us with a piece of paper in his hand. He gave it to Groggoniche.
“Map” said the bear tapping the paper in Groggoniche’s hand.
The “map” was a crudely drawn on notebook paper. There was a circle with a square in the center, which I assumed represented the Toilet Wizard’s domain. A line drawn in red marker snaked from the drawn square, to the lower right corner of the paper.
“Wait here.” said one final bear, pointing to the end of the red line, punctuated with an X. The bears then pushed us towards the bikes. Another bear hit a button on the wall that I had not previously seen, a garage door opened to the outside world.
In the distance, the trees stretched towards the sky, which was now blue. The grass was green and lush. We all mounted the bikes. I got the black one. I was thoroughly confused, but the voices in my head were calm.
“Go.” said the bears, pointing outside. Groggoniche peddled first, taking off down the hill. Dave and I were in close pursuit.
The sun was warm, and its rays highlighted the colors around us. The clouds above us rolled off into the distance. Our bikes rolled smoothly through the clearing. We neared the tree line and I watched Groggoniche disappear into the darkness of the woods. I followed closely behind along with Dave.
The darkness of the woods encompassed us. The ride became bumpy as we traversed roots and over growth. Groggoniche was gaining distance. Apparently, the knight was extremely skilled on a BMX bike. I did my best to keep up with him. Dave was struggling too. I could hear his breath become heavy as his powerful Minotaur legs peddled along.
After what felt like many hours, we reached a small clearing. Groggoniche stopped and let his bike fall to the ground. I was seconds behind him, and Dave soon followed. I was exhausted, struggling to catch my breath, sweat made my t-shirt stick to my skin, my glasses were fogging up from the heat radiating off my face.
“Where are we?” I asked. I looked around; the clearing wasn’t a perfect circle like the Toilet Wizard’s domain. It was an irregular shape. The trees made the area almost claustrophobic. The grass was just as green and as lush as the grass that grew near the castle. There was nothing here.
“Is this where the BitCoin mine is?” I asked confused, looking around.
“What? No.” said Groggoniche. “This is the bus stop that takes us there.”
“What bus stop?” I asked, I couldn’t see anything but grass and trees.
“The one right there.” Dave pointed behind me. I turned around. A red bench resting on concrete sat on the edge of the clearing, the sunlight seemed to reflect off it.
“We have to take a bus there?” I was puzzled. “What’s to stop us from taking these bikes somewhere else?” I gestured towards the bikes. They had disappeared.
“They’ve returned home.” said Groggoniche. “Besides, we’re still in the domain of the Toilet Wizard; he knows every move we make.” He pointed towards the trees. “They speak to him.” The wind blew, and the branches of each tree shook.
I shuddered at this. “What now?” I asked.
“We sit and wait.” said Dave. He and Groggoniche walked towards the red bench. I followed cautiously behind. The three of us crammed into the bench, it was a tight fit, but we were all seated. I was sandwiched in the middle.
Time slowed down. I stared up to the sky. The clouds were creeping at a slow pace above. The blue of the sky was slowly turning pink. I could see the planet Saturn become more and more visible.
The voices in my head were making inaudible whispers. I was tired from the trial and the journey. The world began to spin and I felt myself slowly drift to sleep. It felt as if a warm blanket had been wrapped around me. I was felt so serene.
As my eyelids dropped, Dave clapped in my face. “No!” he yelled at me. All sleepiness left my body. “Don’t fall asleep! You can’t live with the consequences!”
“What?” I couldn’t piece together what he was saying.
“He’s right.” said Groggoniche. I looked over at him he was leaning back, puffing on an e-cigarette through the holes on his helmet. He casually looked off in the distance.
“What flavor is that?” I pointed at his e-cig.
He turned his head towards me without saying a word and threw it over his shoulder. Before it hit the ground, it exploded with a loud crack!
“What the —” but before I could finish my sentence, our bus appeared.
submitted by Jackson12B to stories [link] [comments]

[Daily BAT Discussion] Putting Back the Table - July 11, 2018

July 11, 2018
Hey BAT table-flippers! Welcome to the Daily BAT Discussion!
Yesterday's Market Movements - Slightly Up
Yesterday was a negative day for the market, but a positive one for BAT. Bitcoin had a big $400 fall down to $6300s after failing to break out of its 2-month descending channel. Ethereum also took a hit, once again touching $430 twice within a couple weeks. BAT, however, gained on Bitcoin, moving from 3800s to 4000 satoshis by this morning ($0.26). While the rest of the market fell, we had a pleasantly green day actually gaining on the dollar. Note that most of this upward movement was induced on low volume, with a 24h volume of only 125 BTC on Binance. Again, buys seem to be coming in spurts, but such an increase in satoshi ratio at these levels suggests that sell pressure has massively decreased in the past few weeks.
Also, there's a local BAT meetup in San Francisco this Thursday (July 12, 2018)! Have a great Wednesday guys!
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submitted by dragespir to BATProject [link] [comments]

How the VC cartel is Destroying ICOs (Ep. 4)

How the VC cartel is Destroying ICOs (Ep. 4)
Finally got to finishing part 4 of the Vagina Club Blog. This one is nice and juicy with lots of name calling, screenshots and all the things people love in crypto. Lets get into it! In this episode, we will highlight some of the scummiest VCs in Crypto and break down their bad behavior. If you haven’t read the previous episodesmake sure you check those out as well, preferably before reading this one.
From 0 to Gold to Shit and all in 2 years
FBG the Fintech Blockchain Group and quickly became one of the most controversial crypto management funds of Asia. FBG’s fame stems from turning $20 million into $200 million in less than a year. It was founded in early 2017 by FBG founder Shuoji Zhou, 36. Shuoji is a special guy, he studied applied math at the University of Electronic Science & Technology but never cared a lot for maths. In an interview with Forbes he said, “Friendship, I think, is the most important thing in college. I forgot all the things I studied,”.
Pretty big statement especially since cryptography is a sub study of mathematics
Shuoij started making his fortune with arbitrage trading in the early days of crypto. One of Zhou’s tricks was to make use of the inefficiencies and problems in the cryptocurrency ecosystem. He could often buy bitcoin on one exchange at $300 and sell it on another at, say, $301.50, pocketing a riskless $1.50 per coin. As time went on Shuoji perfected his skills to abuse the system and leech off the inherent problems of this nascent market. In early 2017 before the start of the ICO frenzy, Zhou and a few of his Chinese buddies from university joined together and raised around $20 million USD. They started to invest in promising projects like OmiseGo, Tron and MakerDao.
Lets take a deeper look at their investment portfolio.
https://analytics.hypernum.com/fund/fbg.capital You can find the entire list of their investments in the link above. The average total return on Investment on all projects currently is around -63% at time of publishing this blog, however, FBG has 80% of investment projects – below the ICO price in dollars, the average is much higher thanks to Zilllqa.
FBG Capital Investment Strategies
In part 2 of this series, we explained what the goals are for a traditional Venture capital firm. At the end of 2017 and early 2018 investing in ICOs was not about finding good projects, it was about getting into them and generating the hype around them. Name of the game, find a good project with the help of engineers and specialists to examine the technology look at good teams and then hyping the shit out of them. Most crypto funds did not care about long-term visions of a project because they can make quick easy money dumping and clueless retail investors. This is one of the main problems in crypto hyper liquidity.
One could almost compare it with the boy band boom of the 90s. Find pretty boys, that can sing (at least dont sound horrible). Now generate crazy hype and cash out.
In part 2 of this series, we explained the importance of price in ICO Investing. Receiving discounts and getting into hot projects was the difficult part. FBG became exceedingly good at getting into projects and also with massive discounts. They talk about valuation added services that they can provide and a bunch of other lies that usually later fall flat out. We will put the FBG Logo on your Website, is what FBG Capital told Constellation Labs when they first approached them. Labs, at the time a highly rated project fell for their deceptions and gave in to the insane demands that FBG asked for. FBG demanded 98% discount.
At this point it be probably better to just give away the tokens for free
They provide exchange “intros.” Totally unneeded in late 2018. The industry is small. I can walk up to CZ at a conference and pitch my project.” If you have a halfway decent token and volume, all the tier2 exchanges will list you for next to nothing and there are 100 ways to start the application for tier1 exchanges who will judge you according to their own criteria.
  1. A three letter China Fund got a great reputation as the fund to follow in ICO 1.0 because they weren’t just investing — they were actually making sure that projects did well, by doing themarketing in-house and managing the Asia retail hype. So for a time it was a good party if you heard they were on a project. This was fun while it lasted and eventually fell apart and their reputation petered out.
  2. FBG offers the FBG One market Making Digital. As FBG is a big trader and runs a lot of volume on some of the main exchanges in crypto they offer their services for market making. The idea is simple, you tell a project you will secure a stable secondary market by providing millions in trading volume via their market makers and in return, you need to get 100% unlocked tokens with a very high discount. They will then use those tokens lock them up in the algorithmic trading bots and provide fake volume, buy and sell orders on the exchanges.
  3. Having such terms makes it easy to make quick money by simply dumping all those tokens on other retail investors or other funds. A perfect example of this behavior was the Uchain ICO. Currently sitting at almost 100% loss UChain was once a very hyped project with lots of potential great team and advisers. Now it’s a completely REKT ICO. UChain was told that FBG will provide maker making and professional exchange listing on one of the top exchanges in the world. The listing was a complete mess and ended up on Hotbit and and Bilaxy. The market making never started. Instead, FBG made quick returns and moved on to the next projects.
CEO Shuoji Mid this year Forbes published an article on FBG capital, in which they highlight all the aspects of “Asias Hottest Crypto Fund”. Once Shuoji Zho saw the headling he quickly shared this article with all his friends and community groups on social media without even reading it. The article highlights FBGs dubious strategies and also highlights several negative aspects like: Why did FBG buy into Tron? “We thought he was a very good marketer,” says FBG partner Richard Liu of Tron CEO Justin Sun. Sun’s 450,000-follower Twitter feed is filled with promotional messages, like a recent tweet featuring Tron’s logo on Times Square’s Nasdaq Jumbotron with the caption “#TRON hits #NASDAQ once again! We’re going to change blockchain, the internet, and the world! We’re going full speed. Don’t get left behind.” Sun has hyped Tron to a $18.9 billion peak market value, despite no meaningful revenues. (FBG claims it has given back its Tron investment.) FBG also has a reputation for getting in and out of investments quickly. “They’re flippers,” says Yubo Ruan, founder of Palo Alto-based 8 Decimal Capital, a rival crypto hedge fund. “Their reputation is pump and dump.” All in all, the article shines a very negative light on the team. Sharing this piece among other funds and ICOs was one of many problems FBG ran into in the past few months.
Reselling allocations breaking contracts
FBG obtained a reputation of getting discounts and selling them at a premium at higher rates to other funds, VCs and Pools. This behavior became very popular in 2018. Get allocations to sell them for more than what you had to pay, make quick risk free money. Sounds too good to be true? Thats because it is. A SAFT (Simple agreement on future Tokens) is a big pile of shit in terms of legal standpoint they barely have anything written in there, but one thing that they do clarify is that buying tokens for the explicit reason to sell them again to 3rd parties can lead to termination of the contract.  Aergo proudly presents the FBG Capital logo on their homepage. However just this month they were rumored to be complianing about FBG Capital to be selling their allocation on the OTC market.
We know because we were offered a FBG Allocation from 3 different sources. A week later aergo announced to the public that they will increase the amount of locked tokens.
We know most broker dealers in the space and often FBG Captial are the ones that are selling their tokens. The main problem with this system, is that these VCs have direct contact with the team and are selling their allocation to the public as soon as bad news comes in. Essentially its insider trading on the OTC markets. It also causes a dilution of interest as the secondary markets buy the tokens over the counter, leaving the exchanges dry and open to easy price manipulation.
General cluelessness of Token economics and decentralized systems
We talked to several ICOs that were in contact with FBG Capital and other Venture Capitals in general. FBG Capital uses external academics, scientists and engineers to evaluate the technology of their projects if there the project even have anything to evaluate. In direct conversation, most of the teams of such funds show little to no understanding of token economics, decentralized systems, and distributed ledger technologies. To provide long term value, VCs need to have anything of value that they can offer. This is hard work, building new valuation models for cryptocurrencies and building real value is much harder than deceiving and using dubious tactics to generate revenue. In fact, over 50% of their income comes from marginal and day trading.
Frankly there was no financial incentive to have any such understanding in the first place. It was extremely easy to make money by hustling. Hustling is their only ability.

What now?
Funds are dried up, they pushed all their remaining liquid assets into various Shitcoin project early and mid this year. With no retail to dump on it on or founding teams who were in it for the pump and not the long term technology. These investments never went liquid, most of them destroyed the market and got REKT anyway. We heard from various sources that many of the biggest Crypto Funds are struggling to survive. Many are faced with the problem that the ICO Teams do not want to list on exchanges, but the funds desperately need the liquidity to pay their employees. The result is an over flooded OTC market with ICO tokens selling at seed prices.
Looking hashgraph 100% unlocked for 3.5 cents, or Oasis Labs for seed price? Its all popping up in the OTC telegram channels.
Others like Multicoin Capita land Polychain Capital, some of the best funds in the world have also reported losses. Galaxy Digital LP, a fund owned by Mike Novogratz has reported losses of over $175 million. Also, a total of nine funds including Alpha Protocol and Crowd Crypto Fund have decided to close down. Kyle Samani, the Cofounder of Multicoin Capital, says that new capital has slowed for even high profile funds theirs. Right now, the market has no compass. Things that worked in the past are not working — the reason being is that they worked not because of the genius of the strategy, but because retail investors had FOMO’ed in and were taking the dump. Smart forward-looking players will recognize this.
You can fool some people sometimes, but you can’t fool all the people all the time
Strategies that the Asian VC cartel and Chinese ICOs used to generate Fomo among Western retailers: Top Ranking on So-and-So’s Spreadsheet 5 China funds’ logos on the website Random PHD with 8 years of blockchain experience on the team They have signed a partnership agreement with (reality is they usually have a buddy that owns a local franchise) They have a 50-million user base from another company they are bringing over to use their payment token. (Stuff like this is usually debunked with any amount of real diligence — except if you are MachineZone and doing your own Reverse ICO.) And recently they started a new tactic, opening on secondary exchanges with 0.5% circulating supply and then going on top exchanges. Just to then generate last bit of fomo to dump on. This behavior is really disgusting.

We are at a point where everybody understands that things can’t go on like this. Most people are screaming for regulations and are hailing the STO, without having any understanding of securities laws and their implementations. A few other people believe that common sense is the way to go. Self-regulations and more responsibility. The ICO Venture Cartel as we know it is running out of fuel. Their deceiving tactics are not fooling anybody anymore. If you want to know who is going to win look to the project that regular people are talking about. The ones that people can maybe invest 1 ETH into a project are worth getting excited about. The ones that show us cases that bridge over to the “real world” outside of blockchain. Those that show understanding for token economics and decentralized networks. CEO’s that talk about the inherent problems with centralized solutions in every industry in the world. People that are actually passionate about decentralized ledger technologies and spend day and night working to make this our future. In the last episode of this series we’ll highlight all the aspects investors should watch out for, to avoid getting dumped on by Crypto funds and what ICOs should watch out for when approved by such 3 letter Asian Crypto funds. Please share this and other related articles to ICO communities to help us finally get rid of the players that are parasitically leaching off the system and adding no value at all. If you liked this article please make sure to check out the episodes 1 – 4 here.
Want to know more about it, join us on our Discord and Telegram channels and get into the discussion, or join our 8000 member community on our ICO DOG Investment Platform: https://icodog.io/crypto-stories/how-the-vc-cartel-is-destroying-icos-ep-4/
submitted by icocatapult to ico [link] [comments]

But wat about the price tho?! PLS STOP?

While the price talk is total rabies, and I can't wait for us to move on to more exciting features when released, do indulge me this one time.
Discredit me for being relatively new to crypto (5 months), but I'd take my chances than to sell away my ICO-priced coins for 2x-4x on a project like Request.
My entry into Antshares/NEO was $7 (peaked $50), OMG when it was $3 (peaked $13). But ask anybody who held their $0.20 OMG or $0.15 NEO, they'll laugh it off saying, "You late AF, bruh".
Request was one of the few ICOs that stood out to me, after going through at least a hundred different ICO projects that was a process that had me rolling my eyes, going "wtf?", because they were gunna implement monthly lotteries, or had some weird target market in some obsecure part of the world or was yet another self proclaimed decentralized P2P-Bitcoin-Monero-Litecoin clone.
And while it's waaaaaaaaaay too early to deem Request as 'Unicorn' tier or even top 20 at this point, consider this, projects with proper direction, backing and structure (whitepaper wise) and a viable target market for their future product, are really hard to come by.
So flippers, do as you always have, the whales will thank you, investors who were quietly hoping for a day 4 firesale will have their wishes granted. People who weren't whitelisted will get their opportunity. and you'll get your profit. Everybody's happy, what's not to like?
Git ready and welcome the resident FUDsters, (if the coin was truly dead, there'd be no reason for them to post if you ask me.) A brand new cycle of getting rid of the impatient Moon-worshipping lambokids who threw in grammy's $100 in birthday money has just begun.
submitted by DonthateonMo to RequestNetwork [link] [comments]

My thoughts on this past episode

Alright, so last episode gave us a lot to dissect. A very fast episode filled with imminent threats and distractions and overall chaos. You have the two major characters in the episode being Elliot and Angela and they are struggling to finish their tasks in the midst of chaos.
The major thing I love about Mr. ROBOT is the concept of us as an "imaginary friend" to Elliot that helps him cope. We as viewers (when we are in Elliot's scenes specifically), are given traps that distract us and switch our focus and see from Elliot's perspective. I believe this is because we aren't some split personality like MR, who can supplement Elliot or give him focus like Elliot may want us to be. We were creating for Elliot and by Elliot and are limited by his way of seeing the world (we see from his eyes).
A few times as the viewer we get hectic episodes like this and we find out that while we were distracted dealing with Elliot's dilemmas, we fail to see the bigger picture. An example could be like Shayla's demise. This episode to me is a giant distraction for Elliot's "imaginary friend" and him to make us not see what the Dark Army is really after.
I believe the real important events taking place are outside of eCorp and by Whiterose with the UN vote.
Whiterose is currently pushing for China to annex the Congo, which is rich in resources. So why did the attack take place on this day? Whiterose doesn't seem too interested in Elliot as a threat but more so has a need for him as ally as we've seen. So why is Elliot still alive now that his purpose (what Angela just completed for him) is over to the Dark Army?
I believe that the eCorp explosion right after the riots outside will further ruin the currency. The US will agree to fully use eCoin to which the Chinese are combating with their backing of Bitcoin. Whiterose will attempt to win the currency war and force the US into using Bitcoin for trade and from there China will be the most powerful nation in the world. From here my only guess is that Whiterose foresees resource rich areas as more important than currency and so there may be manipulation with a "world currency" at that point.
Elliot and Angela, along with Dom, serve as the last hope in the coming episodes until Angela drops out of the equation.
Elliot was supposed to code the information he received from Angela (as MR) and be killed and he would have just been seen as a convicted criminal hacker if investigated. But Angela robbed the Dark Army of the chance to kill MElliot and that clearly upset Irving but he played it calm. Then, Angela, after finishing her role, was supposed to off herself as part of her Dark Army obligation and just be seen as a death in the riot. But since Angela was seen doing the hack, the eyewitness was capable of IDing Angela and this would highlight her to her Boss who works with Whiterose, or even the media of it got that bad.
Elliot's survival is the one big variable here to Whiterose. He was supposed to be dead and they are probably looking for him under the assumption he is MR and not expecting to be killed by the Dark Army.
I assume at this point, Elliot will explain to Angela that the Dark Army plans to kill all those people. Angela will reveal a bit about what Whiterose showed her (but probably not much). Elliot will interrogate Angela further and learn what she had just hacked and piece together a makeshift half-solution.
I picture Stage 2 succeeding and all those people still dying. Angela being alive to witness it and having a much anticipated final break down. She will reflect on how she has become evil from her moral standpoint, and off herself. The Feds will come for Elliot with full force as they don't believe in Whiterose and will assume Elliot (having just worked at eCorp and mysteriously being fired right before the explosion, along with how he used to work for the eCorp's cyber security firm) is directly under Tyrell and can lead them to him so they can restore ordecalm the public.
With Elliot on the run, without any of his support systems besides his psychiatrist (and Flipper), he will seek her out possibly. If she finds Elliot responsible for the eCorp attack or explosions, she will react very negatively to him and he will be left without any support system. Being completely alone like this will be enough stress to trigger MR to reappear to him while he is awake. This will give us the viewing experience of 24/7 Elliot and MR together where both are in every scene together and working against each other but ultimately wanting to survive. At this point MR has succeeded by having the records destroyed after Stage 2 and will share the same goal of evading the Feds and the Dark Army...however, his approach to this will probably be far more dark/evil.
At this point something will bring Dom to Elliot. She will be on her own mission to find a Dark Army link and find Whiterose. Elliot happens to have been imprisoned and know Leon (maybe enough to get him to turn). Elliot will use the Feds to track Shayla's killer from s1 and use him somehow to start building a case with the arrested hackers involved etc. This will allow him to work with the Dom in order to acquire immunity (Him, being alone with no care for other people anymore just wanting to stay alive, will give him the incentive to go the Feds route/snitch).
Well that's all I got after the last episode. But I still got no real idea what Whiterose is fully planning, what will happen with Tyrell or Darlene, or how Dom and Elliot will eventually meet (with a mutual need for each other or with Dom placing the cuffs and having no need for Elliot after).
submitted by Insanewiggle to MrRobot [link] [comments]

WIZ Token Exchange Listing Announcement: BTC-Alpha

WIZ Token Exchange Listing Announcement: BTC-Alpha
Some weeks ago we have announced the start of the WizExchange (by the end of July) and the Whitelist for the WizBeta! Now we would like to brag about that the WIZ token is now listed on BTC-Alpha Exchange! That makes you one step closer to trading WIZ! However, before you start, read this article and see how.
A little bit about btc-alpha.com
BTC-Alpha is a cryptocurrency exchange situated in the United Kingdom. Unfortunately, US-investors may not trade on BTC-Alpha’s exchange. So, if you are a US-investor and want to trade on BTC-Alpha, you will need to reconsider your choice of trading venue.
As you already know, there is a number of top crypto exchanges that do not charge different fees over the exchange. Here, BTC-Alpha offers a different fees starting with 0.10% to 0.20% regardless of your action. This is quite good because is slightly below the industry average which is usually around 0.25%. BTC-Alpha charges a withdrawal fee of 0.001 BTC when you withdraw BTC. The maker and taker fees are priced the same and range from 0.20% for a 30 day trading volume of less than 100 BTC to 0.10% for a 30 day trading volume of 5000 BTC or more. As for deposit and withdrawal fees all crypto deposits are free of charge, and crypto withdrawals vary between cryptos but are in line with industry standards. On the other hand, fiat currency deposits are 6% for deposits via Perfect Money and AdvCash. This is extremely high and very disappointing considering the other fees are relatively low. Fiat currency withdrawal fees are 5.5% for Perfect Money and 3.5% for AdvCash.
BTC-Alpha is a cryptocurrency exchange which allows both crypto-to-crypto and fiat-to-crypto trading USD supported using an advanced web-based platform. It also offers a coin listing service, which is very useful. Like most crypto-exchanges, BTC-Alpha has a two-step verification system (2FA), despite the fact that completely anonymous trading is not allowed.
BTC-Alpha offers trading in Litecoin, Ethereum, Ethereum Classic, Monero, Zcash, PRISM, and now WIZ. Currently, there are lots of pairs available on its platform, the most popular are BTC/USD and ETH/USD judging by their trading volumes. In fact, this exchange supports only one long-established currency, but it is the most popular one — US dollar. So, as we already said before, on BTC-Alpha you can buy some coins with your dollars, or cash out your Bitcoins.
BTC-Alpha commissions:
There are two options available — “Gradation of Commission for trading” and “Commission for Deposit and withdrawal”. In the first one you can comprehend at what volumes of trading within 30 calendar days you will be available discounts from 0.2% to 0.1%. It can significantly reduce the cost of activity if you operate in large amounts. The second column is a little more informative, it contains all the trading pairs, and for each specified amount, the Commission that will be retained by the exchange for the input or output of this coin.
In order to make a secure registration BTC-Alpha will offer you to write a password consisting of 8 or more latin characters which will be numbers and letters, capital and capital. You need to write down somewhere all the data that you leave on the BTC-Alpha cryptocurrency exchange just for any case. As well as for better security, you can save a list of settings on a remote data store, or on a flash card, with access only to you.
The WIZ token within the BTC-Alpha Exchange
After completing the token sale and raising the equivalent of 7,234,387 USD, the total token supply is 11,169,314 WIZ. This accomplishment is a huge success for our team! We would like to thank all of you for your support and appreciation. We couldn’t have done it without you — our community, the early-adopters, believers and evangelists!
The listing of the WIZ token on btc-alpha.com is a vital step for making CrowdWiz one of the leading crypto projects around! We believe it is important to bring rigor and easily accessible information for the early-adopters and the new users looking to use blockchain technology and especially the ones who have chosen CrowdWiz! As we know BTC-Alpha provides guides of varying depth, from an in depth look at the maths of elliptic curve cryptography to how hashing actually work or to a simple look at what is money. So it suits each customer, from beginners to hodlers, flippers and investors. BTC-Alpha offers its services using its sophisticated browser-based trading platform equipped with technical indicators, charting options and add-ons, provided by TradingView. There is a neat order book, Trade history window, Chatbox, as well as the latest tweets of the company.
As we said above BTC-Alpha offers trading in proper number of digital cryptocurrencies and also supports USD fiat currency, which is great. So, go there, prepare your wallets regardless of what you own and start trading WIZ. Here are direct links to WIZ/BTC and WIZ/USD — so go and get it.
submitted by paulbor04 to Crowdwiz_io [link] [comments]

What is exactly going on with Bitcoin cash?

Bitcoin is just doing is thing and letting space for the alt coin, but what is Bitcoin cash doing? I know it's kind of a centralized shit coin, but for what i remember everytime bitcoin stuggled Roger ver tried some bullshit flippering that didn't worked, is he tired or Bitcoin cash is just slowly dying?
submitted by BlackienBad to CryptoCurrency [link] [comments]

Suspicious of your random number generator?

The whole randomness thing worries me. I don't trust Microsoft or Apple not to have some NSA-sponsored backdoor in their random number generators, I'm not mathematically adept enough to understand the source to the generator in Linux, plus I didn't compile my own operating system so the binaries could be compromised anyway. I'm also far more suspicious of hashing algorithms than any sane person should be.
In the past I've made a bitcoin key by shuffling cards and it was not fun, flipping a coin or rolling die seem similarly long-winded. So I decided to make an automatic coin-flipper that can be verified by a code slinger with very little mathematics knowledge. It's the standard one everyone knows how to make, you just stick the radioactive bit of a smoke alarm to a webcam and extract randomness from the universe herself via radioactive decay. They're dead easy to make and apparently not that cancerous (I wrapped mine in foil just in case).
Next up I use Video for Linux to record a video of the random white flashes and pipe that into a script which outputs the frame number, position and brightness of each flash. You can verify this CSV file against the video however you like. The code is really easy to read because its written in Python, the important bit is only a few lines long.
Next I pipe that into another script which takes a column of the data and compares each number to the average for that column. If it's above average then it's a 1 and otherwise it's a 0.
The question is, can I trust this thing? Can any of you good looking, charismatic, natural born winners offer some tips? Make one yourself, fork my code, critique my assumptions, lambaste my programming style and ultimately give me some confidence, please!
submitted by binlargin to Bitcoin [link] [comments]

[uncensored-r/BitcoinMarkets] PSA: "Technical Analysis" is a made-up term to hide the fact that calling it what it actually is,...

The following post by BEAST_CHEWER is being replicated because some comments within the post(but not the post itself) have been silently removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ BitcoinMarkets/comments/7vnm87
The original post's content was as follows:
Remember this next time you see a chart with silly arbitrary lines and shapes drawn all over it. And when people tout their successes with it, remember that by definition, someone predicting something will go up or down will be right half the time, and that if you give a everyone in a football stadium a coin to flip eight times, around 250 of them will flip heads every time and all be convinced they are the most skilled coin flippers in the stadium.
If you need actual researched proof that chart reading is ultimately fruitless, there are numerous well-regarded books on the matter, of which "A Random Walk Down Wall Street" is my personal favorite.
Happy trading!
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

05-22 23:03 - 'To the TA folsk...' (self.Bitcoin) by /u/fragglerock11 removed from /r/Bitcoin within 89-99min

When are you guys going to realize that the price of bitcoin is dependent on two things. Which side the coin lands on, and where the darts land on the board. Because this is how bitcoins price is determined....
Somewhere there exists a room, and in this room, there are men. Every day, these men have two important objectives. First, they gather round a table in a circle, and on this table is a box. From this box, a coin is produced. On one side, there is a green vertical bar. On the other side is a red one. Next, the spinner from the game twister is pulled from the box. It is placed on the table, and given a spin by the previous days coin flipper. The person who it is pointing towards when it comes to a rest, is the days Market Maker. This person is handed the coin, and flips it high into the air. The previous result of the coin flip is irrelevant. What has happened the day before belongs to yesterday. What happens today, belongs to the coin. Ah, it has landed on Red Bar. One of the men from the circle exclaims, " So it has been decided, today the market will go down!" "huzzah!" say the rest.
Then, a a dart is pulled from the box. The one who flipped the coin is handed the dart. He then walks to a line that is drawn twenty meters from a board with hundreds of numbers on it ranging from 0 all the way to 2000. The majority of the numbers represented fall between 0-500. With a couple spots on the board reserved for values between 501-2000. There is one spot in the middle which says "wild". This leaves the decision up to the days tosser.
He lets the dart fly. "Thud". Cheers erupt from the others, as one man announces "It is settled. Today, bitcoin will drop by $350".
The group of men then goes to a computer, clicks a red button on the screen that says down, enters 350 into another box, and then pushes a button that says "Delayed bot activation +1 Hr". Then, they exit the room, walk down a long tunnel, and up a set of stairs, and out a set of storm doors, emerging into the bright morning sun. Beneath their feet, is sand. Nearby waves crash upon a pristine shoreline, completely untouched by footprints. Two of the men push one another as they race to the waters edge, laughing every step of the way.
At the same time, thousands of men across the world sit in front of their computers, drawing lines, circles, triangles.... making calculations...applying formulas...intersecting arrows and blobs.. and any number of other methods to try to predict something. Something that was already decided an hour ago on a small, undisclosed island in the southeast pacific.
To the TA folsk...
Go1dfish undelete link
unreddit undelete link
Author: fragglerock11
submitted by removalbot to removalbot [link] [comments]

Quarkchain: Overview and ICO

Quarkchain consists of a team of experts regarding the topic of high throughput systems. Before entering the blockchain space they were building large-scale systems that are able to handle TPS numbers in the billions (Former Googler, Facebook & more). Their mission is to bring this kind of scalability now to the blockchain to solve the big issue of low transaction throughput which leads this revolutionary space currently to stagnation.
The high-throughput blockchain they are building is called Quarkchain and will be capable of 100.000+ TPS and in the future will even be able to operate with 1.000.000+ TPS. One aspect of solving the issue of the scalability consists of the combination of the blockchain and DAG technology. While there are many discussion about whether DAG or blockchain technology will succeed in the end, the Quarkchain team uses the advantages of both technologies to tackle the scalability and security issues which we have to date.
The Quarkchain reaches high security through improved Proof-of-Work. Proof-of-Work is proven to be secure as Bitcoin is using this kind of consensus algorithm since the genesis-block and has never been hacked. However, 50% of the hash power will always be owned by the rootchain to de-risk the possibility of a double spending attack. Still 45% of the total supply of the coins will be available for miners. Additionally small nodes will have the possibility to cluster to one super-full node. This ensures high TPS at low cost for individual contributors, while keeping the network as decentralized as possible.
While most blockchain project look for a second layer project to solve their scaling issues Quarkchain integrated this already in their project through the reshardable two-layered blockchain, which consists of the first layer of shards and a rootchain as the second layer, which interacts with the first layer to confirm the blocks.
The Hash power is additionally evenly distributed among all the shards to ensure the increasing of TPS with the increasing number of shards.The Quarkchain will use sharding while keeping the security and decentralization as high as possible through the root-chain and Proof-of-Work participants.
Due to the possibility of fast cross-shard transactions, Quarkchain can offer simple account management with one smart wallet for all the shards. The dApps which are currently running on Ethereum will also have the possibility to be deployed onto the Quarkchain due to the use of the EVM (Ethereum virtual machine) for smart contracts. Through the smart wallet those dApps will experience fast and easy adoption, which encourages dApps to deploy their product on the Quarkchain. Additionally Quarkchain will support mobile dApps (Dapps2go), which will also add adoption.
Even though the Quarkchain can theoretically reach 1mln + TPS, there is still the possibility for on- and off-chain transactions to include external data which is not available on the blockchain.
The Quarkchain is especially build for dApps which require high transaction rates, which could be for example dApps in the area of: advertisement, IoT, AI and big data. Essentially those dApps which will likely revolutionize our life in the upcoming years, besides blockchain of course! Quarkchain has the potential to build the base and be the base of the next revolution.
This should underline just a „Quark“ of the potential of this project!
In the ICO the Quarkchain team is raising 20.000.000 USD in form of Ethereum, while tokens worth 16.000.000 USD were already sold in the privat sales.The total number of tokens ever created will be QCK and 20% of this amount is sold during the token sale.
The QKC token will have 3 main roles:
  1. Value carrier2. Transaction currency3. Contribution reward
The whitelist is still open until the 21.05. (https://steemit.com/quarkchain/@quarkchain/quarkchain-whitelisting-kyc-process)
The Quarkchain team has a special lottery process to ensure a fair ICO with without gas wars. The lottery consists of 2 stages:
  1. Every interested person has to submit a KYC form to be eligible to participate in the lottery
  2. Persons who submitted KYC successfully have the chance to get a score from 0-100 based on 3 aspects, while only participants with a score of 60+ will be able to actually be part of the lottery.
Those 3 aspects consist of:
  1. The date of entering one of the TG channels (0 points if you joined after the 4th of May (30 points max.)
  2. A quiz which will test the knowledge about the project (50 points max.)
  3. Your contribution to the project (20 points max.)
A higher score means higher chances of being whitelisted, but still a higher score does not ensure you a place on the whitelist.
This process has advantages for both sides, investors and the Quarkchain team. First of all as mentioned there will not be a gas war, as the cap for each investor will be predetermined. This also ensures that you will not have to stress out during the ICO as you can submit your own cap in a given timeframe
Secondly the team can invite people who are interested and are (early) supporters of their project into the ICO. The risk of attracting „Flippers“ is lowered, because as soon as people invest their time in a project, they usually feel more connected to the project and tend to hold their tokens.As interest in ICOs rises more and more those types of whitelist processes are the best solution, a mixture of PoC (Proof-of-Care) and lottery systems. Contributions to the project either supply the team with new ideas, recommendations or with content marketing for the project itself, while investors are getting a fair treatment and get the chance to connect to the project.
Contact & more:
Homepage: https://www.quarkchain.io
Twitter: https://twitter.com/Quark_Chain
Facebook: https://www.facebook.com/quarkchain.io
Medium: https://medium.com/@quarkchainquark
Telegram: https://t.me/quarkchainio
Github: https://github.com/QuarkChain
ICO drops interview: https://www.youtube.com/watch?v=YpdjaRAFDdg
Whitepaper: https://www.quarkchain.io/QUARK%20CHAIN%20Public%20Version%200.3.2.pdf
submitted by Max_Wing to u/Max_Wing [link] [comments]

Satoshi count.

Unless there really will be a flippering I can’t see how any alt coin will ever regain its Satoshi count. I’m a very modest investor that started with 11% of a bitcoin a couple of months ago. I have grown my $$ value by almost 100% by trading alts but my Satoshi count has reduced by 50%. Basically I would have doubled again if I had sat on my arse and done nothing. Will alts ever get to there Satoshi numbers as they were in October ?
submitted by Stuward75 to Bitcoincash [link] [comments]

Log of AMA with CIVIC by Vinny Lingham

boldninja All welcome @vinnylingham from Civic.com (edited)
darius hiyo
rhmral Hi Vinny!
vinnylingham Hi guys.
numba1enigma Vinny is civic open source
moonyrooney hi
alirz Vinny thank you so much for coming. I am very interested in your coin and thank you for supporting the community. Factom coin has dod contracts already. How does Civic plan on getting these important contracts and are any already in discussion? Do we plan on having some strong names up front?
ichowa Hey
sidzero Hi @vinnylingham
vinnylingham How do I handle this
Too many questions :-)
techbytes Hi and welcome to the ARK.
alirz Take them as they come :slightly_smiling_face:
vinnylingham I'll type * - which means stop.
boldninja Take them 1 by 1 and I would ask everyone to wait till Vinny catches up
vinnylingham And then let me respond.
Thanks. I'll take those first 3
bootstrap Hi Vinny
michaelthecryptoguy Hello :wave: @vinnylingham
bootstrap Thank you for hosting this, hope you get some good questions from the community.
mike Hi vinny, good to see you, thanks for stopping by.
vinnylingham re: BIP148 - we will make a decision closer to the time, but we are aware of the options.
It's a bigger issue for Bitcoin than for Civic, tbh.
Civic is not yet open source - eventually one day, it will be. Open sourcing security software in the early days is very risky
satoshi75 good day, ladies and gentlemen
dr10 Hey
satoshi75 this is confusing, none of the usual lurkers I've grown to love during the last week
oh you :heart:
vinnylingham Not familiar with Factom's dod contracts - so I can't answer that question
mward @dr10 go dude! ask them questions
vinnylingham ok - more questions
varvitsiotis When will instructions be sent for pre-sale
bootstrap Is there an economics model that insure's Civic tokens will increase in value?
satoshi75 real vinny lingham? oh you got some ama going on here or so?
alirz How does the token gain value over time? Is there economic policy?
vinnylingham Pre-sale instructions going out today
numba1enigma Vinny what kind of moat will civic have to compete with giants like ibm
vinnylingham Civic is selling a token. We don't speculate on future value of that token.
alirz Thank you. As opposed to asking about DoD contracts, what big names already support this or are you having big names in the works already? How will we increase adoptation.
dr10 What ia civic about - explained in words for someons who bought bitcoin a week ago?
vinnylingham Yes - I'm real and this is an AMA :-)
varvitsiotis What exchanges will list CVC post presale and crowdsale
gandalfthegrey @vinnylingham thanks so much for joining and chatting. Can you speak about token settlement is there is no smart contract? It appears based on the Civic Telegram chat that tokens and funds will be manually settled a week or two after the crowdsale is over. If this is the case is there timing risk of carrying the cost of BTC / ETH fluctuations in the interim? Same also for the presale - will those investors who commit early be forced to take the carrying cost risk of BTC / ETH fluctuations?
vinnylingham Network effect businesses have built in moats - re: Metcalfe's law
tranzer Since you are selling 33% of total tokens to ICO participants, what kind of hard cap do you plan on putting there? What if everything solds out in pre-sale?
numba1enigma Vinny how will you approach network building
vinnylingham We are not announcing any names of partners other that initial launch partners (Jaxx, Bitgo, TokenMarket & BnkToTheFuture)
lav @vinnylingham type @personsname so we know who you are responding to
tintumon How much money are you expecting from the presale? Is it possible that the funding will be over in presale itself?
vinnylingham After the crowdsale, we will announce more names
bootstrap @vinnylingham while I understand non-disclosure, can you confirm the existence of other partners?
alirz Can you share the strategy for going after big verifiers and service providers? For example, are we putting aside a certain % of the sale for marketing purposes like MobileGo has?
michaelthecryptoguy What safety measures can civic offer with electronic records, that another entity cannot?
vinnylingham @dr10 Civic is using tokens with a smart contracting system to ensure private consumer data is exchanged between 3rd parties in a secure manner and that identity information is verified once and re-used multiple times reducing costs and friction to transacting
michaelthecryptoguy so its not the security that civic is mainly about, its the re-use or re-validate? (edited)
numba1enigma what platforms will civic use for the smart contrating system
vinnylingham @gandalfthegrey We are releasing terms today. Token prices are fixed on the day of contracting in the pre-sale, when the contract is signed. Settlement occurs afterwards at that fixed price. Crowdsale price will be fixed on the morning of 21 June when it goes live.
bootstrap @vinnylingham Why was the decision made to use RSK instead of a more mature smart contract platform?
dr10 Like what kind of private data? Can you give me a scenario where i would need/use civic and what kind of data is exchanged? (edited)
bootstrap How would a pivot to ETH affect token holders.
vinnylingham *stop - catching up.
dr10 When rsk is on LTC as charlie lee mentioned it on twitter - will be civic on ltc too?
vinnylingham some questions I cannot answer for reasons of legal consideration in that they are complex and without an understanding of the legal framework within which we operate, context will be lost. I will ignore ones that I cannot answer, please do not take offense or assume i have missed the question.
alirz If possible just let us know you will have to ignore that one, if it's OK i have a few more since I went through the white paper
vinnylingham @tranzer read my latest blog post : www.vinnylingham.com - it has the answer to your questions around the cap etc
vinnylingham @tintumon same applied to you - please review my latest blog post
@bootstrap yes, we have other partnerships in the works
satoshi75 Anyone can answer me, since I am late and this is probably a stupid question - Is there some kind of cooperation or at least symbiosis between Ark and Civic? Do both benefit from each other more than they do with a random altcoin/token? because if so, I could be more likely to look into becoming a part of Civic.
vinnylingham @alirz we will be using the 330m tokens for network incentives to drive adoption and bring partners on board.
@michaelthecryptoguy Civic does store any data. The user's data is all stored locally on their apps. If we get hacked, there is no PII
varvitsiotis Time frame when CVC will be listed and be able to be purchased on exchanges, thought I read August
alirz ty
cannabanana @satoshi75 no connection currently, just hosting the AMA for the benefit of our community
vinnylingham @numba1enigma We will be using RSK
vinnylingham @bootstrap RSK was used because our entire platform has been built on bitcoin and bridging to Ethereum is an extra step that may not be necessary with RSK
cr @vinnylingham I understand presale is for people willing to invest $50K+. For public who wants to participate in the general sale on the 21st whats the best way to ensure window doesn't close on them too rapidly? Said differently, what's the best way to ensure bids are received before book is filled? Will you be issuing directions? Will any wallets be accepted (say coinbase vs hardware wallet)?
numba1enigma @vinnylingham how does one do presale
vinnylingham @satoshi75 no relationship with Ark at present although they may purchase coins in our token sale
jac067 What are your thoughts on Estonia's digital identification program that has been fostered over the course of the past few years? Could Civic have government applications some time in the future?
vinnylingham I cannot discuss anything relating to crypto exchanges in this AMA. The Civic token is not a cryptocurrency - it's a token built on top of the Bitcoin blockchain with smart contracting capability, that being it's primary purpose and utility.
michaelthecryptoguy For example. If using civic. I would walk into a bank associated with civic to open a new account. Would I then send a token across the network to be added to the block-chain, to be verified with that bank?
vinnylingham @jac067 yes - hence the name Civic - we want to be the global decentralized store for self sovereign identity information
If you haven't already, I highly advice everyone to read this post for more info: https://vinnylingham.com/the-vanity-headline-is-not-the-goal-introducing-the-civic-token-sale-3675b883fb05 (edited)
bootstrap How do you plan to address issues of regulatory compliance (HIPPA, SOX, PCI, etc...) when there is no formal advice on blockchain practices?
vinnylingham Our goal is to ensure that Civic tokens are widely distributed
Not sold out in 30 second
alirz At a certain point the end user get's a incentive for giving their private data for use in civic, and verifiers get incentive for selling a 'validation request' for tokens for the hard work they did in already verifying that user. How does this token get used though for something tangible?
tranzer @vinnylingham will tokens be immediately available after ICO (if it sells out quickly) ?
vinnylingham Users never spend tokens on identification - it's always free for them
mike does Civic have/will have recognition in any jurisdictions as legal ID/documentaion?
dr10 Can you give me a scenario where i would need/use civic and what kind of data is exchanged?
vinnylingham Tokens will be issued around mid to end of July only. We will be doing extensive integration testing with partners like Jaxx to ensure that everything works 100% before releasing them
@dr10 not having to ever fill in a bank account application form again :-)
@mike hopefully :-)
whyfhy @vinnylingham do you own any ark?
1 reply Today at 8:55 PM View thread
vinnylingham @alirz the tokens utility is smart contracting and settlement
tranzer @vinnylingham can you participate in presale with bitcoins as well or only ethereum tokens?
numba1enigma nevada and a few other states recognize documents produces from blockain as legal for legal proceddings
mike look forward to never having to fill out such applications...
dr10 Well... If i have only bitcoin... And use it as a Payment. And dont use banks anymore. Why civic?
dr10 I dont get it xD
vinnylingham @dr10 try crossing the boarder without a passport
bootstrap You might still want to buy a house, purchase a vehicle, get a credit card, etc..
dr10 In the eu? Np.. (edited)
alirz Thank you Vinny, I as a end user to lets Civic be the hub for my data verification get incentives or a reward for using it per transaction. I guess my question is, how can I use that incentive reward; whether it's a token or not? Is the idea that I can sell the token at a later date and do something with that? I'm not sure what use a token incentive has for me as a end user if I use civic
whyfhy @mike any new updates coming our way?
michaelthecryptoguy Can you tell me the difference in applying for a bank account----to what you see in your vision-----or future? (edited)
vinnylingham @alirz Civic sells products like ID theft protection and we have others in the works. You will be able to spend the tokens with us.
@michaelthecryptoguy scan a QR code, bank requests all your personal information on your phone, you hit ok and account created in 30 seconds. No more docs needed.
alirz thank you.
jac067 Is civic meant to be a replacement for government issued ID or a supplement?
whyfhy ANYWAYS
sup guys holding strong?
michaelthecryptoguy this isn't about ark atm @whyfhy
gandalfthegrey @vinnylingham if the tokens are released in mid to end of july, would it be safe to say that exchanges won't carry them until that date at the earliest? So there's no liquidity for several weeks at best? I understand the desire to mitigate against flippers, but removing liquidity in this market is a real concern, are you doing anything to mitigate against that?
whyfhy apparently not . but not everyones interested. im on the sidelines
vinnylingham @jac067 no, but eventually it should have the same legal status/framework
@gandalfthegrey see previous comment re: limitations on what I can discuss
dr10 What is the advantage of civic instead of just doing it the old way? Why wouldnt the government not want access to all these Informations
lav Can Civic functionally act in a pseudo-anonymous way? For example I sign up for a website and it verifies that I'm a legit person but doesn't reveal who I am.
michaelthecryptoguy How long do you see this road going forward until a qr code is actually implemented and actually able to use?
cr @vinnylingham Civic token sale is to grow early adopter network and create a user base of Civic advocates. What's your estimate on potential timing for a significant percentage (call it 1+%) of general population penetration/adoption.
vinnylingham @dr10 hang on a minute, I need to find my walkman, the music companies don't offer music for my iPod
@iav that's exactly how it works. You have private login features- no info, just a token. Site doesn't know anything about you but can keep a history for you.
dr10 Dunno
vinnylingham @michaelthecryptoguy download the civic app today and try it on tokenmarket.net or bnktothefuture.com
varvitsiotis When will it be available for Android
dr10 Speaking about identity here and legal data. Goverments dont like anonimity. dont know why banks etc should be allowed to work with btc/civic. Thats what i dont understand really. Why should it go mainstream?
vinnylingham Android coming next week
Before crowdsale
@dr10 I could argue the same about Bitcoin...and yet...there it is
michaelthecryptoguy Will identity verification be manually verified by person, or a computer?
numba1enigma is ability to buy in presale still available
dr10 Sure, but its disconnected from banks and passport stuff.
lav how much time will we have to organize funds for the presale once the go ahead has been given. BTC transactions take some time
vinnylingham @michaelthecryptoguy automated as much as is practically possible, for purposes of scale
michaelthecryptoguy What I meant was, where I can walk into a local bank and apply for an account? michaelthecryptoguy How long do you see this road going forward until a qr code is actually implemented and actually able to use? Posted in #trading_altcoinsToday at 9:00 PM
vinnylingham @michaelthecryptoguy it's ready for them...let's see who moves first.
Pre-sale is $50k+ - contracts go out Friday. You will have a couple of days to settle in BTC or ETH. Email [email protected] for more info.
mike is there a link for the pre-sale?
vinnylingham Tokensale.civic.com is the site
numba1enigma thanks
varvitsiotis If someone was to invest 50k in presale are they guaranteed a opportunity in the presale or will they get bumped by a bigger investor
tranzer @vinnylingham are there any high-profile companies / organizations / governemnts already interested in Civic?
michaelthecryptoguy Do you see any roadblock with legal framework. Being as of now block-chain is only accepted or has no legal manner in I believe 3-8 states? (edited)
lav If you haev already contacted Marina T and she has replied is that an indication that the contract for the amount you wanted to buy is locked in? (edited)
michaelthecryptoguy Can you discuss some major attributes to civic, that may have not been mentioned?
vinnylingham @michaelthecryptoguy not sure exactly what you mean?
@varvitsiotis once you get a contract and allocation, you are guaranteed, until then it's just an expression of interest
gandalfthegrey @vinnylingham besides user and partner acquisition pools, how will you look to capitalize on the ICO to drive adoption and real fundamental use cases for Civic?
vinnylingham @tranzer yes, but I can't give more details just yet
@michaelthecryptoguy many, but network effects generally force those rules to change. Ask Uber.
gandalfthegrey @vinnylingham Who do you view as your competition? is it OAuth, Gem, Netki,etc and why?
michaelthecryptoguy On the first question. For example some banks do not allow any transactions with an online exchange dealing with bitcoin. Wouldn't block-chain have to be legal across the board completely for any bank to accept and work with blockchain?
And not allow this state or that state?
vinnylingham @gandalfthegrey no one we know of it building an identity network, hence we don't see any competition currently...maybe change quickly though
gandalfthegrey @vinnylingham Sorry for the question blitz, but have another one: How do you get these banks and other FIs comfortable with not storing any information for their own KYC / AML purposes. It seems like it may take several years for them to even be comfortable with that idea. Do you have any feedback or proof points with those players?
mofo How I could make money with investing into Civic?
viajero I understand the token is meant to incentivize early adopters to help build a network effect. is that correct? if yes, how is civic planning to create appreciating token value?
numba1enigma http://www.coindesk.com/blockchain-consortium-draws-enterprise-giants-to-revolutionize-digital-identity/
michaelthecryptoguy Is the civic blockchain data stored peer to peer?
numba1enigma vinny civic was mentioned here
vinnylingham @michaelthecryptoguy this is different (and depends on jurisdiction), we are already piloting with banks and because Bitcoin is not being used as money, it's ok.
new messages @gandalfthegrey they may retrieve and store the information, but it would come from the user and would be reusable and cheaper than current solutions
@mofo we are selling a network access and smart contracting token, to be clear but you are not investing in Civic.
tranzer @vinnylingham who is the brains behind Civic idea? Was it you or a few people came together?
vinnylingham @tanzer me and my co-founder, Jonathan Smith
@michaelthecryptoguy the user data is peer to peer, the hashes are stored on the Bitcoin blockchain
jac067 What will make big corporations such as banks, health care providers, etc. prefer the civic system of identification over that of a drivers license and social security card for example?
vinnylingham @viajero we are working on common standard as part of Microsoft led DIF. We are very consumer focused though (edited)
tranzer @vinnylingham maybe a bit off-topic, but did you anytime in Shark Tank when listening to ideas came to some of the new ideas that you put in action and were inspired by people on Shark Tank?
viajero how is civic related to what Daniel B. (@csuwildcat) Head of Decentralized Identity @ Microsoft is building (http://www.backalleycoder.com/2016/07/12/scaling-decentralized-apps-services-via-blockchain-based-identity-indirection/) vinnylingham @gandalfthegrey no one we know of it building an identity network, hence we don't see any competition currently...maybe change quickly though Posted in #trading_altcoinsToday at 9:14 PM
zillion @vinnylingham Why you're using Bitcoin blockchain not ARK?
michaelthecryptoguy Is there say any insurance that civic will offer when I am a customer of civic and my information is stolen. Example, I have a credit card that is stolen. I can report, and possibly have the funds stolen, returned? (edited)
tranzer Actully that is a good question zillion since you can store data in vendor field and Ark is fast as fuck
vinnylingham @tranzer yeah - I did the augmentors deal, which resulted in Databits
@michaelthecryptoguy that part of our identity theft packages - fund replacement is coming
varvitsiotis CVC tokens are ERC20 and can be stored in cold storage, i.e. ledger nano s?
vinnylingham re: Ark - Bitcoin was there first :-)
Yes, ERC20 for now - will switch to RSK once that is ready
zillion I see
michaelthecryptoguy Are you able to tell me if any funds from the ICO will be used to fund that area?
techbytes that's what blockbuster says to Netflix...
varvitsiotis Can RSK coin be held on Ledger wallet?
vinnylingham Hey guys - I need to jump into my next meeting now. Sorry, time's up! Been fun
michaelthecryptoguy Since my information is stored on an application. Any data breach is automatically puts me a faught? Correct? (edited)
jakethepanda Thanks for joining @vinnylingham
dr10 Thanks for being here
vinnylingham Take care and chat soon
mward Thanks, bye!
varvitsiotis Thanks Vinny
michaelthecryptoguy Alright. Thank You for your Time!!
dr10 Bye
boldninja Thank you Vinny for taking the time to do this AMA - good luck with Civic and I hope Ark and Civic can collaborate in the future
gandalfthegrey @vinnylingham Will you be reachable for more questions on Civic's Telegram? Could definitely use more answers there. Thanks a bunch for your time!
reeeeeeeeeeee Bye vinmy
viajero I understand the token is meant to incentivize early adopters to help build a network effect. is that correct? if yes, how is civic planning to create appreciating token value?
vinnylingham Yes - please ask in the telegram channel. Gtg!
submitted by Jarunik to ArkEcosystem [link] [comments]

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