Cryptocurrencies Price Analysis: Bitcoin, Binance Coin ...

Bob The Magic Custodian



Summary: Everyone knows that when you give your assets to someone else, they always keep them safe. If this is true for individuals, it is certainly true for businesses.
Custodians always tell the truth and manage funds properly. They won't have any interest in taking the assets as an exchange operator would. Auditors tell the truth and can't be misled. That's because organizations that are regulated are incapable of lying and don't make mistakes.

First, some background. Here is a summary of how custodians make us more secure:

Previously, we might give Alice our crypto assets to hold. There were risks:

But "no worries", Alice has a custodian named Bob. Bob is dressed in a nice suit. He knows some politicians. And he drives a Porsche. "So you have nothing to worry about!". And look at all the benefits we get:
See - all problems are solved! All we have to worry about now is:
It's pretty simple. Before we had to trust Alice. Now we only have to trust Alice, Bob, and all the ways in which they communicate. Just think of how much more secure we are!

"On top of that", Bob assures us, "we're using a special wallet structure". Bob shows Alice a diagram. "We've broken the balance up and store it in lots of smaller wallets. That way", he assures her, "a thief can't take it all at once". And he points to a historic case where a large sum was taken "because it was stored in a single wallet... how stupid".
"Very early on, we used to have all the crypto in one wallet", he said, "and then one Christmas a hacker came and took it all. We call him the Grinch. Now we individually wrap each crypto and stick it under a binary search tree. The Grinch has never been back since."

"As well", Bob continues, "even if someone were to get in, we've got insurance. It covers all thefts and even coercion, collusion, and misplaced keys - only subject to the policy terms and conditions." And with that, he pulls out a phone-book sized contract and slams it on the desk with a thud. "Yep", he continues, "we're paying top dollar for one of the best policies in the country!"
"Can I read it?' Alice asks. "Sure," Bob says, "just as soon as our legal team is done with it. They're almost through the first chapter." He pauses, then continues. "And can you believe that sales guy Mike? He has the same year Porsche as me. I mean, what are the odds?"

"Do you use multi-sig?", Alice asks. "Absolutely!" Bob replies. "All our engineers are fully trained in multi-sig. Whenever we want to set up a new wallet, we generate 2 separate keys in an air-gapped process and store them in this proprietary system here. Look, it even requires the biometric signature from one of our team members to initiate any withdrawal." He demonstrates by pressing his thumb into the display. "We use a third-party cloud validation API to match the thumbprint and authorize each withdrawal. The keys are also backed up daily to an off-site third-party."
"Wow that's really impressive," Alice says, "but what if we need access for a withdrawal outside of office hours?" "Well that's no issue", Bob says, "just send us an email, call, or text message and we always have someone on staff to help out. Just another part of our strong commitment to all our customers!"

"What about Proof of Reserve?", Alice asks. "Of course", Bob replies, "though rather than publish any blockchain addresses or signed transaction, for privacy we just do a SHA256 refactoring of the inverse hash modulus for each UTXO nonce and combine the smart contract coefficient consensus in our hyperledger lightning node. But it's really simple to use." He pushes a button and a large green checkmark appears on a screen. "See - the algorithm ran through and reserves are proven."
"Wow", Alice says, "you really know your stuff! And that is easy to use! What about fiat balances?" "Yeah, we have an auditor too", Bob replies, "Been using him for a long time so we have quite a strong relationship going! We have special books we give him every year and he's very efficient! Checks the fiat, crypto, and everything all at once!"

"We used to have a nice offline multi-sig setup we've been using without issue for the past 5 years, but I think we'll move all our funds over to your facility," Alice says. "Awesome", Bob replies, "Thanks so much! This is perfect timing too - my Porsche got a dent on it this morning. We have the paperwork right over here." "Great!", Alice replies.
And with that, Alice gets out her pen and Bob gets the contract. "Don't worry", he says, "you can take your crypto-assets back anytime you like - just subject to our cancellation policy. Our annual management fees are also super low and we don't adjust them often".

How many holes have to exist for your funds to get stolen?
Just one.

Why are we taking a powerful offline multi-sig setup, widely used globally in hundreds of different/lacking regulatory environments with 0 breaches to date, and circumventing it by a demonstrably weak third party layer? And paying a great expense to do so?
If you go through the list of breaches in the past 2 years to highly credible organizations, you go through the list of major corporate frauds (only the ones we know about), you go through the list of all the times platforms have lost funds, you go through the list of times and ways that people have lost their crypto from identity theft, hot wallet exploits, extortion, etc... and then you go through this custodian with a fine-tooth comb and truly believe they have value to add far beyond what you could, sticking your funds in a wallet (or set of wallets) they control exclusively is the absolute worst possible way to take advantage of that security.

The best way to add security for crypto-assets is to make a stronger multi-sig. With one custodian, what you are doing is giving them your cryptocurrency and hoping they're honest, competent, and flawlessly secure. It's no different than storing it on a really secure exchange. Maybe the insurance will cover you. Didn't work for Bitpay in 2015. Didn't work for Yapizon in 2017. Insurance has never paid a claim in the entire history of cryptocurrency. But maybe you'll get lucky. Maybe your exact scenario will buck the trend and be what they're willing to cover. After the large deductible and hopefully without a long and expensive court battle.

And you want to advertise this increase in risk, the lapse of judgement, an accident waiting to happen, as though it's some kind of benefit to customers ("Free institutional-grade storage for your digital assets.")? And then some people are writing to the OSC that custodians should be mandatory for all funds on every exchange platform? That this somehow will make Canadians as a whole more secure or better protected compared with standard air-gapped multi-sig? On what planet?

Most of the problems in Canada stemmed from one thing - a lack of transparency. If Canadians had known what a joke Quadriga was - it wouldn't have grown to lose $400m from hard-working Canadians from coast to coast to coast. And Gerald Cotten would be in jail, not wherever he is now (at best, rotting peacefully). EZ-BTC and mister Dave Smilie would have been a tiny little scam to his friends, not a multi-million dollar fraud. Einstein would have got their act together or been shut down BEFORE losing millions and millions more in people's funds generously donated to criminals. MapleChange wouldn't have even been a thing. And maybe we'd know a little more about CoinTradeNewNote - like how much was lost in there. Almost all of the major losses with cryptocurrency exchanges involve deception with unbacked funds.
So it's great to see transparency reports from BitBuy and ShakePay where someone independently verified the backing. The only thing we don't have is:
It's not complicated to validate cryptocurrency assets. They need to exist, they need to be spendable, and they need to cover the total balances. There are plenty of credible people and firms across the country that have the capacity to reasonably perform this validation. Having more frequent checks by different, independent, parties who publish transparent reports is far more valuable than an annual check by a single "more credible/official" party who does the exact same basic checks and may or may not publish anything. Here's an example set of requirements that could be mandated:
There are ways to structure audits such that neither crypto assets nor customer information are ever put at risk, and both can still be properly validated and publicly verifiable. There are also ways to structure audits such that they are completely reasonable for small platforms and don't inhibit innovation in any way. By making the process as reasonable as possible, we can completely eliminate any reason/excuse that an honest platform would have for not being audited. That is arguable far more important than any incremental improvement we might get from mandating "the best of the best" accountants. Right now we have nothing mandated and tons of Canadians using offshore exchanges with no oversight whatsoever.

Transparency does not prove crypto assets are safe. CoinTradeNewNote, Flexcoin ($600k), and Canadian Bitcoins ($100k) are examples where crypto-assets were breached from platforms in Canada. All of them were online wallets and used no multi-sig as far as any records show. This is consistent with what we see globally - air-gapped multi-sig wallets have an impeccable record, while other schemes tend to suffer breach after breach. We don't actually know how much CoinTrader lost because there was no visibility. Rather than publishing details of what happened, the co-founder of CoinTrader silently moved on to found another platform - the "most trusted way to buy and sell crypto" - a site that has no information whatsoever (that I could find) on the storage practices and a FAQ advising that “[t]rading cryptocurrency is completely safe” and that having your own wallet is “entirely up to you! You can certainly keep cryptocurrency, or fiat, or both, on the app.” Doesn't sound like much was learned here, which is really sad to see.
It's not that complicated or unreasonable to set up a proper hardware wallet. Multi-sig can be learned in a single course. Something the equivalent complexity of a driver's license test could prevent all the cold storage exploits we've seen to date - even globally. Platform operators have a key advantage in detecting and preventing fraud - they know their customers far better than any custodian ever would. The best job that custodians can do is to find high integrity individuals and train them to form even better wallet signatories. Rather than mandating that all platforms expose themselves to arbitrary third party risks, regulations should center around ensuring that all signatories are background-checked, properly trained, and using proper procedures. We also need to make sure that signatories are empowered with rights and responsibilities to reject and report fraud. They need to know that they can safely challenge and delay a transaction - even if it turns out they made a mistake. We need to have an environment where mistakes are brought to the surface and dealt with. Not one where firms and people feel the need to hide what happened. In addition to a knowledge-based test, an auditor can privately interview each signatory to make sure they're not in coercive situations, and we should make sure they can freely and anonymously report any issues without threat of retaliation.
A proper multi-sig has each signature held by a separate person and is governed by policies and mutual decisions instead of a hierarchy. It includes at least one redundant signature. For best results, 3of4, 3of5, 3of6, 4of5, 4of6, 4of7, 5of6, or 5of7.

History has demonstrated over and over again the risk of hot wallets even to highly credible organizations. Nonetheless, many platforms have hot wallets for convenience. While such losses are generally compensated by platforms without issue (for example Poloniex, Bitstamp, Bitfinex, Gatecoin, Coincheck, Bithumb, Zaif, CoinBene, Binance, Bitrue, Bitpoint, Upbit, VinDAX, and now KuCoin), the public tends to focus more on cases that didn't end well. Regardless of what systems are employed, there is always some level of risk. For that reason, most members of the public would prefer to see third party insurance.
Rather than trying to convince third party profit-seekers to provide comprehensive insurance and then relying on an expensive and slow legal system to enforce against whatever legal loopholes they manage to find each and every time something goes wrong, insurance could be run through multiple exchange operators and regulators, with the shared interest of having a reputable industry, keeping costs down, and taking care of Canadians. For example, a 4 of 7 multi-sig insurance fund held between 5 independent exchange operators and 2 regulatory bodies. All Canadian exchanges could pay premiums at a set rate based on their needed coverage, with a higher price paid for hot wallet coverage (anything not an air-gapped multi-sig cold wallet). Such a model would be much cheaper to manage, offer better coverage, and be much more reliable to payout when needed. The kind of coverage you could have under this model is unheard of. You could even create something like the CDIC to protect Canadians who get their trading accounts hacked if they can sufficiently prove the loss is legitimate. In cases of fraud, gross negligence, or insolvency, the fund can be used to pay affected users directly (utilizing the last transparent balance report in the worst case), something which private insurance would never touch. While it's recommended to have official policies for coverage, a model where members vote would fully cover edge cases. (Could be similar to the Supreme Court where justices vote based on case law.)
Such a model could fully protect all Canadians across all platforms. You can have a fiat coverage governed by legal agreements, and crypto-asset coverage governed by both multi-sig and legal agreements. It could be practical, affordable, and inclusive.

Now, we are at a crossroads. We can happily give up our freedom, our innovation, and our money. We can pay hefty expenses to auditors, lawyers, and regulators year after year (and make no mistake - this cost will grow to many millions or even billions as the industry grows - and it will be borne by all Canadians on every platform because platforms are not going to eat up these costs at a loss). We can make it nearly impossible for any new platform to enter the marketplace, forcing Canadians to use the same stagnant platforms year after year. We can centralize and consolidate the entire industry into 2 or 3 big players and have everyone else fail (possibly to heavy losses of users of those platforms). And when a flawed security model doesn't work and gets breached, we can make it even more complicated with even more people in suits making big money doing the job that blockchain was supposed to do in the first place. We can build a system which is so intertwined and dependent on big government, traditional finance, and central bankers that it's future depends entirely on that of the fiat system, of fractional banking, and of government bail-outs. If we choose this path, as history has shown us over and over again, we can not go back, save for revolution. Our children and grandchildren will still be paying the consequences of what we decided today.
Or, we can find solutions that work. We can maintain an open and innovative environment while making the adjustments we need to make to fully protect Canadian investors and cryptocurrency users, giving easy and affordable access to cryptocurrency for all Canadians on the platform of their choice, and creating an environment in which entrepreneurs and problem solvers can bring those solutions forward easily. None of the above precludes innovation in any way, or adds any unreasonable cost - and these three policies would demonstrably eliminate or resolve all 109 historic cases as studied here - that's every single case researched so far going back to 2011. It includes every loss that was studied so far not just in Canada but globally as well.
Unfortunately, finding answers is the least challenging part. Far more challenging is to get platform operators and regulators to agree on anything. My last post got no response whatsoever, and while the OSC has told me they're happy for industry feedback, I believe my opinion alone is fairly meaningless. This takes the whole community working together to solve. So please let me know your thoughts. Please take the time to upvote and share this with people. Please - let's get this solved and not leave it up to other people to do.

Facts/background/sources (skip if you like):



Thoughts?
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03-09 23:55 - 'I love it. I recommend it to everyone. / THE GOOD / * Trust wallet supports the most cryptocurrencies out of any other mobile app wallet that I've seen * Non-custodial, which means you own your cryptocurrency, no...' by /u/CrackingCryptoDotCom removed from /r/Bitcoin within 311-321min

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I love it. I recommend it to everyone.
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Author: CrackingCryptoDotCom
1: *r*st*a**et.com/collec**bles*wall*t/ 2: w****ti.live/exchang*s*
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ChainLink - Rank 97 with no competitors. Undervalued Gem?

What Does ChainLink Do?
In a nutshell, ChainLink aims to solve the connectivity problem, a key limiting factor for smart contract usability, and whilst it's an ERC-20 token it will not be limited to just the Ethereum blockchain.
What makes $LINK so special? Well, it's the first decentralized oracle network; allowing anyone to securely provide smart contracts with access to key external data, off-chain payments and any other API capabilities. Anyone who has a data feed, useful off-chain service such as local payments, or any other API, can now provide them directly to smart contracts in exchange for LINK tokens.
Partnerships
I will keep this brief, as you can see a full list of current and potential partnerships on https://www.reddit.com/LINKTradecomments/7mob78/list_of_chainlinks_partnershipsprojects_using/
But the main ones to look at are
The Pros
ChainLink has steadily been gaining traction ever since its downfall after the 4chan/reddit SIBOS hypetrain crash (post September). It's remained around the 90-100 rank mark and has yet to really "moon".
The Cons
So what makes ChainLink valuable?
The LINK token is used by smart contract owners to pay chainlink nodes for getting data from them and the more LINKs an oracle node has, the more reputable it is. So oracle node providers are incentivized to hold as much LINKs in their chainlink nodes to appear more reputable to the chainlink network, gaining more usage and profit
(Taken from a comment on https://www.reddit.com/CryptoCurrency/comments/7nwis4/why_i_believe_chainlink_link_is_the_most/)
Most importantly, LINK can (and will be) used for data request penalty payments to ensure that node operators provide the requested data. Penalty payments are LINK tokens that are required to be held in escrow by the smart contract. They are paid to the smart contract creator in the event any of the node operators do not meet the required data requests as stated in the smart contract. This provides an incentive for smart contract creators to trust node operators, knowing that they have a form of financial insurance (the penalty payment) in the event a node (or nodes) submit bad data.
For information that will trigger high value smart contracts, smart contract owners will want to require a proportionate amount of link to be held in escrow as penalty payments by the node operators. When link is tied up for penalty payments, it is released over the life of the contract. For example, let’s say party A wants an API snapshot sent every day for 30 days. If the penalty payment for the contract is 300 LINK (per node operator), then each node operator will have 10 LINK released to them at the end of each day – receiving the full 300 LINK at the end of the 30 days if they successfully performed the data request the smart contract asked for. Now imagine the smart contract creator wanted 10 node operators. That means 3000 LINK is taken off the market immediately, and 100 of that 3000 is released each day from the smart contract to the individual node operators (10 each per operator, assuming they provided the requested data). A cycle will be created where more and more smart contracts will make requests and node operators will be limited only by the availability of their LINK tokens to be used for penalty payments.
Add it all together and you have a singular payment method for a desired network (the most secure external data oracle), lots of supply constantly locked up to have enough link for signaling purposes (the reputation boost for a node operator), financial insurance for smart contract creators (penalty payments) for increasingly valuable triggering data in a wide variety of smart contracts, and a network poised for growth as more adapters are built and more API’s become available so that dapps can thrive on any blockchain network. Yes LINk is an ERC20 token, but it is blockchain agnostic and the adapter network can continue to grow.
LINK can also be staked!
LINK staking is another big thing that will do wonders for Chainlink's valuation. Turns out Chainlink oracles can be made into pools, similar to mining pools on bitcoin and ethereum where multiple people come and put their LINKs together to run a more secure oracle node and distribute the profits fairly between each other. This will be huge as it will effectively allow you to stake your LINK tokens and earn more of them passively without doing anything. One such pool in development is LinkPool (http://www.linkpool.io/).
Where do i buy and store LINK?
You can currently buy LINK at the following exchanges;
As an ERC-20 token, you can store LINK on your ledger or MEW wallets.
Here is a well written guide on how to purchase LINK https://www.reddit.com/LINKTradecomments/7gglfv/how_to_buy_link_chainlink_token/
Sources of Info For Own Research
P.S CEO Sergey Nazarov speaks at Bitcoin super conference next month too https://www.bitcoinsuperconference.com/speakesergey-nazarov/ as well as speaking at SXSW in march alongside Tom Gonser who is the founder and former chief strategy officer of DocuSign.
https://chainlinknodes.com/smartcontract-ceo-sergey-nazarov-speak-sxsw/
Sorry, All sounds great but i only invest based on TA
Good news, if LINK breaks 7k sats we're in for a moon too!
Edit: updated TA
https://uk.tradingview.com/x/GEBhGcKz/
Added from comments
Don't forget that AXA Insurance and Sony Corp did a test smart contract on their platform last week: https://create.smartcontract.com/#/contracts/fa4703cb68e3c152a9f47bafd57fe1fa
AXA Insurance has announced that they will be implementing blockchain: https://group.axa.com/en/newsroom/news/axa-goes-blockchain-with-fizzy
Facebook Director of Engineering joins ChainLink: https://www.financemagnates.com/cryptocurrency/news/facebook-director-engineering-joins-chainlink-advisory-board/
Zuckerberg says he will be studying crypto make Facebook better: https://www.coindesk.com/zuckerberg-to-study-cryptocurrency-in-quest-to-decentralize-facebook/
submitted by lamps92 to CryptoCurrency [link] [comments]

ATOMIC WALLET; For those looking for a safe and personal BTC wallet.

ATOMIC WALLET; For those looking for a safe and personal BTC wallet.
https://preview.redd.it/eofhn2t9ftf31.jpg?width=640&format=pjpg&auto=webp&s=86f951815d679b13622264fc2061cee67a18d7fb

Hi, everybody,

The Crypto Money market continues to surprise everyone as usual. The digital money market experienced the most extended month-long season in its history during 2018. Remember we were on a downward trend for months in the early months of 2019 and early spring. There had even been accusations of "the biggest Ponzi scheme in history, or the biggest bubble in the financial markets," for bitcoin. My friends and I have had disappointment and unease. But we all knew that blockchain technology was the latest revolution in the internet world. We have continued to believe that the digital money generated by Blockchain technology is the money of the future. Indeed, history has vindicated us. Bitcoin managed to throw itself over $ 3k in quite a short time after tumbling to 10k USD. Even the most pessimistic of us today talk that it's only a matter of time before it gets above $ 15k. But as I have written at the beginning of this article, the digital money market continues to set its laws and surprise everyone. During periods of Ascension, the BTC climbs pass to rest for a period during which the lower coins are moved, and the ascent would cover nearly all digital currencies. But this bull season shows no such process at all. The BTC acts almost alone. Some of the sub coin fall rather than rise. This has led us all to think again about investments. There are a lot of investors who are staying away from bitcoin because it's overpriced. However, if you are going to invest in digital money markets, you must also add some BTC to your portfolio.

https://youtu.be/GvPLN8pe_IY

Which BTC wallet should I use?
Especially those with the idea of investing long-term will need secure wallets to store their BTCS. Indeed, there are huge risks to the high return that your digital money provides you. In the digital world, your millions are at risk of extinction at once. In recent times, many people have lost their digital money to hackers, both through exchanges and through personal attacks. Therefore, the most crucial feature of a digital wallet should be security. So what wallet should we use?

Ledger and Trezor:

This group of wallets, which we call hardware wallets, have the most severe protection possible, especially with private keys kept away from the online environment. But if you copy the private key that you use to access any of your money in this wallet on a computer, you risk getting your private key snatched by spyware. Another shortage of Ledger wallets is accidents that can happen to you when you carry them in your pocket or purse. İn this case, you will not be able to access your digital money in the hardware.
https://preview.redd.it/qy7wd5rlftf31.jpg?width=318&format=pjpg&auto=webp&s=ef734299851f7c3005bdcc869c7ac6de78ad98a0

Stock Exchange Wallets:

Digital currency investments are the most widely used wallet type since the beginning. But it contains severe drawbacks. a. Stock exchange wallets have central administrations. All your information is under the supervision of the employees of this stock exchange. It has been proven that some team members working on meaningful exchanges have emptied accounts because of their dismissals. b. You are not given the private key of your BTC, which you hold on the transaction. This means that your BTC is entirely out of your control at the time. Unfortunately, we hear that if some exchanges close, your money may be gone. It is also complicated to process at any time. c. You have to pay severe commission fees when you want to turn your money into any digital funds or dollars you want.

WHY THE BEST BITCOIN WALLET: ATOMIC WALLET.

  1. Let's examine together why the atomic bitcoin wallet should be preferred. We can start with this. You've never used digital money, and you want to invest digital money. What do you need to do to buy Bitcoin? You need to transfer your traditional money to a stock exchange or brokerage firm and open an account there first. Then you open yourself a wallet where you can store your bitcoin 3. As a step, you have to transfer your money from the stock exchange to this wallet. However, you can only open your computer and download ATOMIC BITCOIN WALLET! a. Let's examine the Transaction Steps first bitcoin wallet link here let's Open together. b. When you set up the Atomic wallet, you will see how user-friendly instructions are. We all use internet banking. Taking bitcoin with your Atomic bitcoin wallet is also no different from any digital banking transaction. But I still give you my article link, in which I describe the experience I had when opening my bitcoin wallet. If you examine the article, you will see what you need to do at each stage. The best surprise here is your chance to get bitcoin with your debit card. You didn't read it wrong. You can buy BTC with your debit card as efficiently and securely as you can buy any currency. Thanks to the integration of your Atomic wallet with the European Union-licensed finance company Simplex, your BTCs will come to your atomic wallet. c. Atomic wallet will offer you two important security when installed. First, you will only open your wallet with a password you have specified. This means that you have control of all your digital money in atomic. Second, a 12-word verification will be offered to use if you lose your login password, your computer is corrupted, or you are unable to access your wallet due to a new digital environment. This is how you can access your wallet even if you forget your login password. d. Another excellent feature that you'll see when you examine your Atomic Bitcoin wallet is that you can get more than 300 altcoins and tokens, the most traded on the market, from your wallet. You can buy them, Swap them, or sell them and convert them to USD, and of course, keep them in your wallet safely. You can understand what that means, can't you? You also don't need a stock exchange service! You don't need to do dozens of transfer operations for an Exchange. Every transaction is solved in your wallet. e. As a fledgling BTC investor, there is a support line where you can get live help every hour for every issue. You can safely move around the Bitcoin world by joining Telegram channels, which you can access from the link below. Keep it in mind.
https://preview.redd.it/p81rv62vftf31.png?width=640&format=png&auto=webp&s=eb248c60c17a7d63f6b91c9075de8946aafef679
https://preview.redd.it/3jclq4nsftf31.png?width=1197&format=png&auto=webp&s=f895c25a3a52233392d0ac92dd3576aa3aa8cc2c

Summarize:

You might be a fledgling bitcoin investor, or you might want to own a bitcoin wallet as an experienced cryptocurrency trader. It's hard to find a more functional, more user-friendly, and safer wallet than the atomic Bitcoin wallet. I'm not the only one relying on Atomic wallet's abilities. Binance, one of the largest exchanges on the market, also proposes Atomic wallet. Awc is one of the first projects listed by the BinanceDex Stock Exchange. And it is a digital value that has managed to attract attention even during that period of downfall that we experienced in the last months of 2018 and early 2019. Keeping AWC as the owner of Atomic BTC wallet will give you a discount on wallet transactions. I wish you all plenty of lucrative days. Remember to review the links below. By: N.ipek Celik Bitcoin Talk ID: naz14 https://bitcointalk.org/index.php?action=profile;u=2221283 Atomic ETH: 0xAf97EF26616F6ADcD6D66AC05a0360E7f6E48Add
https://preview.redd.it/95klcewpftf31.png?width=640&format=png&auto=webp&s=5c6173ceef9d9278cddfcba83aa1ecc758ee31bd

Useful Links:

Atomic Wallet: https://atomicwallet.io Buy Bitcoin - https://atomicwallet.io/buy-bitcoin Buy Bitcoin Cash - https://atomicwallet.io/buy-bitcoin-cash Telegram Official: https://t.me/atomicwalletchat Telegram Turkish: https://t.me/atomicwallettr
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Understanding the Impact of Cryptocurrency Exchanges on the Market & Modern-Day Economy

Understanding the Impact of Cryptocurrency Exchanges on the Market & Modern-Day Economy


The year 2018 and part of 2019, saw the fall of several ‘revolutionary’ crypto projects which eventually led to the delisting of tokens from the cryptocurrency exchanges. The primary reasons given for this included lack of liquidity, usage issues, as well as lack of regulatory abidance by the delisted tokens. On October 2, 2019, Financemagnates released a thorough analysis of the causes and consequences of the situation. This article is all about our take on the published report.
In 2017, the bullish market induced tens of thousands of new investors into the crypto market who were attracted by the lucrative high return of initial coin offerings. Though, with the market downfall, the focus turned to the blockchain technology. This unfavorable situation gave a golden opportunity to the crypto exchanges to yield an amount as high as $15 million dollars from crypto and blockchain projects for listing their tokens and allowing the investors to trade their currencies. These payments of the whopping amount to the exchanges are a basic element for the development of a project, as it leads to the exchange of the token in periods succeeding to the fundraising.
However, with the advent of 2018, the declining prices, plummeting interest rates, and diminishing trade volumes buried all the revolutionary projects into the debris. The present volumes, as per the CoinMarketCap reveals that out of the suite of more than 2900 registered assets, there are nearly sixty cryptocurrencies that generate a volume of more than $10 million dollars in a day. Owing to such complex situations, cryptocurrency exchanges gave a nod to delist the trading pairs that didn’t have substantial liquidity. Recently, Binance broadcasted that with an aim to improve liquidity and user trading experience, it would delist thirty trading pairs soon.
Liquidity threat is not the only reason for the exchanges to drop the assets as sometimes some decisions are not taken considering only professional parlance.
The Bitcoin Gold development team was revealed to receive real threats from Bittrex to stay listed. BTG development team published that Bittrex conveyed to them that they made this decision because the BTG team would not pay 12,372 BTG to Bittrex in lieu of the loss they accrued after the double-spend attack on May 19.
Such a case was also reported by UnikoinGold which was threatened to be delisted in absence of artificial manipulation of the trading volume.

Effects of Regulatory Pressure

Stringent regulatory policies and government control in countries around the world serve as crucial reasons for the crypto exchanges to delist a currency. The U.S. has strengthened the control of digital assets through its policies in the year 2019. Poloniex declared to halt the trading of nine altcoins in the U.S market space from May 29, 2019.
The Asian regulators laid focus primarily on privacy tokens like Dash and Monero. With the intergovernmental organization, Financial Action Task Force, strengthening the regulatory terms, crypto exchanges, OKEx and Upbit has announced the delisting of the main privacy coins from their platform to abide by the FATF guidelines.
Amid these hot-shot cases of delisting of cryptocurrencies from the exchanges, the most talked about and hyped delisting case of the year is about Bitcoin SV. Binance was the first exchange to delist the coin. The exchange stated that the reason behind the decision is based on the periodic reviews of the listed tokens concerning commitment towards project, communication, quality level, and revert to requests. However, the rumors suggest that the real reason was more personal than merely professional.
In April 2019, Craig Wright sued individuals who refused to accept him to be Satoshi Nakamoto, the founder of Bitcoin. Binance’s CEO, Changpeng Zhao didn’t go on with the accusations without showing a strong reaction. His step was followed by numerous exchanges that delisted Bitcoin SV leading to a 6% loss for the coin in a few minutes after the release of the news.

Is It Censorship Or A Warning?

Delisting of cryptocurrencies gave rise to a conflicting situation in the digital currency space as some people fear that, this delisting leads to censorship by a cartel of exchanges while some argue that BSV delisting brings negative returns for the customers of the exchange. In counter, exchanges reveal that such drastic steps are taken in accordance with the regular controls they employ on the tokens listed so that the customers can enjoy the best trading experience.
The claims of censorship can hold a stand only if these exchanges were public which is not the case as they are private and have full right to set barriers as per their wish. The exchanges are free to list or delist any asset as per their choice, though, there is always a centralized power controlling these exchanges.
It is crucial for the entities to work out on cryptocurrencies that are not solely dependent on the exchange platform as this will lead to the failure of the project in the long run.
submitted by GTE_IO to u/GTE_IO [link] [comments]

The history, downfall and future of ICOs. Episode 1

The past 12 months have been gruesome for 99% of all crypto investors; however, the other 1% made a killing. Bitcoin drop by 86%, Ethereum saw double digest, and let’s not even get started on the ICO industry. In 2017 all the telegram heroes screamed F the Banks, but I would argue that the current state of the crypto ecosystem is worse than the banking sector.
Only a handful of useful Blockchains emerged, with Steem being the only mainstream adopted altcoin, Binance one of the only successful ICOs and 0 real dapps, that are not fed by human’s biggest drive: Greed.
Since 2016, over 26 Billion USD has been invested in cryptocurrency related startups. Where are the results more importantly, where the hell is the money?
Why has there been no progress? Why don’t we have a proper user-friendly wallet? Why are all ICOs so useless?
I believe the answer to that question can be found in a fundamental problem with the system, one that is slowly disappearing with every percent that Bitcoin loses of its total market valuation...

Full article in: https://icodog.io/crypto-stories/the-history-downfall-and-future-of-icos-episode-1/

By Chris from icodog.io
submitted by EnriqueZGZ to ico [link] [comments]

The history, downfall and future of ICOs. Episode 1

The past 12 months have been gruesome for 99% of all crypto investors; however, the other 1% made a killing.Bitcoin drop by 86%, Ethereum saw double digest, and let’s not even get started on the ICO industry. In 2017 all the telegram heroes screamed F the Banks, but I would argue that the current state of the crypto ecosystem is worse than the banking sector.
Only a handful of useful Blockchains emerged, with Steem being the only mainstream adopted altcoin, Binance one of the only successful ICOs and 0 real dapps, that are not fed by human’s biggest drive: Greed.
Since 2016, over 26 Billion USD has been invested in cryptocurrency related startups. Where are the results more importantly, where the hell is the money?
Why has there been no progress? Why don’t we have a proper user-friendly wallet? Why are all ICOs so useless?
I believe the answer to that question can be found in a fundamental problem with the system, one that is slowly disappearing with every percent that Bitcoin loses of its total market valuation...
Full article in: https://icodog.io/crypto-stories/the-history-downfall-and-future-of-icos-episode-1/
By Chris from icodog.io
submitted by EnriqueZGZ to ico [link] [comments]

[uncensored-r/CryptoCurrency] ChainLink - Rank 97 with no competitors. Undervalued Gem?

The following post by lamps92 is being replicated because some comments within the post(but not the post itself) have been openly removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ CryptoCurrency/comments/7oqv4x
The original post's content was as follows:
What Does ChainLink Do?
In a nutshell, ChainLink aims to solve the connectivity problem, a key limiting factor for smart contract usability, and whilst it's an ERC-20 token it will not be limited to just the Ethereum blockchain.
What makes $LINK so special? Well, it's the first decentralized oracle network; allowing anyone to securely provide smart contracts with access to key external data, off-chain payments and any other API capabilities. Anyone who has a data feed, useful off-chain service such as local payments, or any other API, can now provide them directly to smart contracts in exchange for LINK tokens.
Partnerships
I will keep this brief, as you can see a full list of current and potential partnerships on https://www.reddit.com/LINKTradecomments/7mob78/list_of_chainlinks_partnershipsprojects_using/
But the main ones to look at are
  • Zeppelin OS
  • Town Crier
  • Request Network
  • SWIFT (we know SmartContract, the company behind ChainLink, are working with SWIFT on improving the efficiency of their bond payments, but nothing official regarding LINK & SWIFT yet).
The Pros
ChainLink has steadily been gaining traction ever since its downfall after the 4chan/reddit SIBOS hypetrain crash (post September). It's remained around the 90-100 rank mark and has yet to really "moon".
  • One of the strongest and most technical whitepapers out in the space atm (https://link.smartcontract.com/whitepaper)
  • Team has been working on this for 3 years and initial testnet is due to be released in Q1
  • Zero competition and first mover advantage even if there was (other oracles are currently centralized)
  • Etherscan shows that soon 95% of all available circulating LINK will be consolidated into less than 15,000 wallets and that continues to shrink as more people try to chase pumps, they're being shaken into stronger hands. As soon as Sergey's saved up LINK is finally handed over to institutions we'll see the price jump by increments of dollars and it'll be way too for most people by then (https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca)
  • Team is actively hiring more developers and a head of marketing
  • Only on one major exchange, so price likely to increase when listed on further exchanges
The Cons
  • Team is focused on development rather than shilling (take TRON for example) so lack of news/tweets to get normies on board (can be taken as a pro as you're still considered early)
  • The 4chan meme token
  • GitHub is private whilst the team work on moving from RoR to GO for Q1 Intitial Testnet release.
  • Not all team members listed on the website
So what makes ChainLink valuable?
(Taken from a comment on https://www.reddit.com/CryptoCurrency/comments/7nwis4/why_i_believe_chainlink_link_is_the_most/)
Most importantly, LINK can (and will be) used for data request penalty payments to ensure that node operators provide the requested data. Penalty payments are LINK tokens that are required to be held in escrow by the smart contract. They are paid to the smart contract creator in the event any of the node operators do not meet the required data requests as stated in the smart contract. This provides an incentive for smart contract creators to trust node operators, knowing that they have a form of financial insurance (the penalty payment) in the event a node (or nodes) submit bad data.
For information that will trigger high value smart contracts, smart contract owners will want to require a proportionate amount of link to be held in escrow as penalty payments by the node operators. When link is tied up for penalty payments, it is released over the life of the contract. For example, let’s say party A wants an API snapshot sent every day for 30 days. If the penalty payment for the contract is 300 LINK (per node operator), then each node operator will have 10 LINK released to them at the end of each day – receiving the full 300 LINK at the end of the 30 days if they successfully performed the data request the smart contract asked for. Now imagine the smart contract creator wanted 10 node operators. That means 3000 LINK is taken off the market immediately, and 100 of that 3000 is released each day from the smart contract to the individual node operators (10 each per operator, assuming they provided the requested data). A cycle will be created where more and more smart contracts will make requests and node operators will be limited only by the availability of their LINK tokens to be used for penalty payments.
Add it all together and you have a singular payment method for a desired network (the most secure external data oracle), lots of supply constantly locked up to have enough link for signaling purposes (the reputation boost for a node operator), financial insurance for smart contract creators (penalty payments) for increasingly valuable triggering data in a wide variety of smart contracts, and a network poised for growth as more adapters are built and more API’s become available so that dapps can thrive on any blockchain network. Yes LINk is an ERC20 token, but it is blockchain agnostic and the adapter network can continue to grow.
LINK can also be staked!
LINK staking is another big thing that will do wonders for Chainlink's valuation. Turns out Chainlink oracles can be made into pools, similar to mining pools on bitcoin and ethereum where multiple people come and put their LINKs together to run a more secure oracle node and distribute the profits fairly between each other. This will be huge as it will effectively allow you to stake your LINK tokens and earn more of them passively without doing anything. One such pool in development is LinkPool (http://www.linkpool.io/).
Where do i buy and store LINK?
You can currently buy LINK at the following exchanges;
  • Binance
  • Coss
  • EtherDelta
  • IDEX
  • GATE
  • Okex
As an ERC-20 token, you can store LINK on your ledger or MEW wallets.
Here is a well written guide on how to purchase LINK https://www.reddit.com/LINKTradecomments/7gglfv/how_to_buy_link_chainlink_token/
Sources of Info For Own Research
P.S CEO Sergey Nazarov speaks at Bitcoin super conference next month too https://www.bitcoinsuperconference.com/speakesergey-nazarov/ as well as speaking at SXSW in march alongside Tom Gonser who is the founder and former chief strategy officer of DocuSign.
https://chainlinknodes.com/smartcontract-ceo-sergey-nazarov-speak-sxsw/
Sorry, All sounds great but i only invest based on TA
Good news, if LINK breaks 7k sats we're in for a moon too!
Edit: updated TA
https://uk.tradingview.com/x/GEBhGcKz/
Added from comments
Don't forget that AXA Insurance and Sony Corp did a test smart contract on their platform last week: https://create.smartcontract.com/#/contracts/fa4703cb68e3c152a9f47bafd57fe1fa
AXA Insurance has announced that they will be implementing blockchain: https://group.axa.com/en/newsroom/news/axa-goes-blockchain-with-fizzy
Facebook Director of Engineering joins ChainLink: https://www.financemagnates.com/cryptocurrency/news/facebook-director-engineering-joins-chainlink-advisory-board/
Zuckerberg says he will be studying crypto make Facebook better: https://www.coindesk.com/zuckerberg-to-study-cryptocurrency-in-quest-to-decentralize-facebook/
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

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