This is my shitcoin blog. You can also find me on Twitter under the handle @allyouracid (give me a follow if you want, or don't – I don't really care). If anyone has links or any other material on recent scams, frauds or other interesting stuff in Cryptoland, send me an email at… wait, don't send me an email, I'll find the good stuff myself. You can tag me on Twitter if necessary.
2020/09/11: SushiSwap: The exit scam which didn't happen
Chef Nomi, created the Uniswap alternative Sushi Swap
at some point, he conveniently dumped all his Sushi tokens (the native token he was supposed to add value to, not leech value from) for a nice bonus of 38.000 Ether (~14.000.000 USD at this time at 370 USD per ETH)
community was outraged, rightfully so
for me, this was a clear case: exit scam. Seen quite a few throughout the years, and it's something that happens in crypto, from time to time
But what did my sore eyes see today? Chef Nomi gave it back. Yes, you read that right. I'm not sure I have seen this during my past eight years in Cryptoland. Good move.
Oh, and now that we're talking #DeFi: I have found a great explanation on how DeFi actually works. I think I finally understand it!
I genuinely believe that we've reached a point where you can randomly buy everything which hasn't pumped, yet. Buy, hodl & wait for the pump, profit.
This is similar to what we've had in 2016ish, when everything pumped randomly before everything started pumping in orderly ways (high caps -> mid caps -> low caps -> shit tier)
Memories of 2017. I still recall how there were death threats toward the Cryptopia (RIP) team, who then decided to delist this coin when it was still RaiBlocks / $XRB. Then it got listed on BitGrail and Mercatox and shit went haywire. #neverforget
Just for the record: I bought 300.000 XRB dirt cheap and sold them for dirt cheap at ±0 profit, because I wanted to "free some resources to buy something else and buy back ASAP", which I never did. 😀
Qortal is approaching block 100.000 – we're live since ~2 weeks. The daemon as well as the UI are stable as fuck, they haven't crashed a single time. Good work, developers! So far, I'm very happy with everything, and I'm collecting rewards from my former QORA balance, as well as a decent minting account.
QORT will bring its own decentralized exchange in one of the next auto updates. Looking forward to it! 🤞
Trading currently takes place OTC on the discord. Had a few trades with different guys, so far no scam at all (yay) and plenty of nice talks.
Long time no see, folks! I've found some stuff I thought was worth blogging about, so here I am.
You'd also call the shrink on someone who says things like "At Twitter, the language we have been using in our code does not reflect our values as a company or represent the people we serve. We want to change that."? I sure as hell would, but the guys over at Twitter are dead serious about this.
Shitcoins are going up, btw! Still no season, but random ass pumps scattered across the field. I'm using a "buy whatever hasn't pumped, yet, and hodl till profit" strategy, works fine.
Oh, and guess what happened a few days, ago: no, pigs still can't fly. But Qortal has finally launched! To generate coins, go to the Qortal Discord and ask someone to sponsor you a minting account. 🙂
Good morning! What a great day, Bitcoin is moving up and Tezos also still wants more. Good… let's keep it that way for another while. Dune is keeping its buy support in the 0.025 USD range, which is great. Also, starting with block 217.088 (should be a bit later, today), the monthly burning of 10% of unused wallets starts today. There are different estimates on how it will affect the total supply, but most range around the 50% mark, which would be quite huge.
But I assume that, if FOMO materializes and DUN goes up, more and more people will start claiming their DUN before the whole idle supply will be burned. So, with each passing month, the rate of burnable coins might decline if there's anything close to a network effect in Dune.
What's up today? I've decided to write a bit more about my trades. Recently, the markets are seeing increased activity; not only did Bitcoin leave its 6.000+ range and is knocking on the door to 10.000 – shitcoins are pumping left and right, too. Well, "pumping". Of course, this is nothing compared to 2016+, but even the Bitcoin 2017 blow off top has started somewhere (in 2015). So, let's be patient and ride this on its way up to new ATHs. 😎
What I'm trading, currently:
XTZ (Tezos), but not really active. Hodling my bag and waiting for a proper moment to sell. Can't really say when that will be, could be days, could be weeks or more.
DUN (Dune Network), Tezos' first fork. Been accumulating this thing in the 0.01-0.014 USD range, and boy was that exhausting (and rewarding). At times, we've had a spread of 100% and more, and two weeks ago, it was easy to play that spread if you waited a day or two for your orders to fill. But now, nobody is willing to sell any coins, FOMO is slowly kicking in, we've moved from 0.01 to 0.027 USD and I'm pretty sure it hasn't even started yet. 🚀
BTC (Bitcoin, of course): I'm about to explore the ftx.com (ref link) move contracts, because I've often been good at predicting that a move will happen, but not so much the direction of that move. Will update the results, here.
Let's see how it goes. Lots of opportunities, there… I wouldn't go that far to use the s-word, yet, but we're on a good way. Markets have bleeded long enough!
I'm back in Germany. No more palm trees, no more ocean, no more oranges you can pick right from the orange trees, cold weather and: SNOW! Awesome. At least something (but I expect it to be molten before we can build a snowman).
What a weekend! I should have posted it yesterday / when it happened, but had no time. To make sure this mess is archived, I decided to post it today. Background: @PeterSchiff likely forgot the password to his Bitcoin wallet on blockchain.info and blamed, guess what, the technology.
Peter Schiff's initial tweet, complaining how crappy Bitcoin is, not acknowledging his fault of neither saving the password nor backing up the seed
The new year has started. I left Germany for a month because I couldn't take the shit there anymore and needed a break. So, here we are in the new year and what I noticed, so far:
Shitcoins are still rekt
Bitcoin is still kinda rekt
The most influential person in the world is had become even more of an idiot than he was in 2019
Oh, there's something positive. After countless (literally, countless!) delays, there is actual hope that Qortal, QORA's successor, will maybe eventually launch on 2020/02/02. It's a cool date and it would be a shame if that would be missed, again. I'm not going into the details of what's planned and what the team is working on; I'll leave that to the developers and the ANN thread on Bitcointalk. 🙂
2019/10/25 - Why is it so quiet, here?
As you might have noticed, I didn't get to post in the past week. There are a few reasons for that. First, my wife is getting a small surgery on her knee, tomorrow, which means I've had to do some preparations, take care of the kids etc. The other reason is that I'm working on a new project. I can't tell much about it, yet, but it is (of course 😀) related to cryptocurrency. I'm helping out building a platform which could become a success. Nothing huge, because it only fills a quite small niche, but nevertheless, it could work.
Also, I always enjoy wrapping my head around new things, working on new projects and building on new technology I haven't used, before. Stay tuned! (But chances are good – or bad, depending on your view – that I won't have much time for shitposting in the coming weeks)
Update 2019/11/03: I'm still coding, using every free minute. My time to take care about shitposting on Twitter is limited... for now.
Tone Vays explaining himself and his salary of 0.3 BTC per hour for telling companies why they don't need a blockchain. If he's good in expanding a simple "no" to, say, an hour, he could actually making money this way.
Anyone remembers the beef OcamlPro had with the Tezos foundation in regards to paying for their work? The next obvious result (besides the launch of Dune Network) is that tzscan won't be maintained, anymore.
Oh, and yes, Tone still doesn't know how the reply button works.
Thinking about sponsoring a ticket for someone who in return promises to boo Tone all the time he talks… 🤔
On the other hand, he's already getting so much shit from everybody, so it shouldn't even be necessary.
Not crypto related, but: the recent shooting in Germany has lead interior clown Seehofer to believe we've got to closely monitor the gamer scene. Sometimes, I wonder if there's anybody sane left, here. Who the fuck installs these clowns?
By the way, Bitcoin did a decent spike from 8.200 to currently 8.600 – here's the subsequent filing of the reason / narrative. Keep in mind, though, that Zerohedge is one of the worst news sources we have in Cryptoland. Anyway, up is up, which is good. 👍
Thanks, Bitcoin, for the altcoin dips. I just refilled my bags.
It's funny. Really no news that altcoins shit the bed whenever BTC only farts (in whatever direction). But often, you can notice that during BTC's first spike (if it goes up), gamblers sell their shitcoins like there's no tomorrow. After that first dump, you can prepare your buys, because often, they realize during BTC's second leg up that this was totally unnecessary and start buying back their shitcoins (at higher prices). This is quite easy to play in market conditions like recently.
I don't need to explain why this video / the reasoning (or what they imply) is retarded, to I? #XRPTheStandard
Post from the Deribit guys on how insurance funds work in crypto and how they differ from legacy trading. Pretty interesting read!
RE: Shitcoin season. We've had a few good arguments for a season to happen, now. But it always makes sense to see the whole picture. Would you short this?
Good morning Shitcoiners! What a wonderful day, nearly everything is green. Me gusto! 👍 Short notice: as the site is now running since more than two months (which is close to two months more than I expected it to run) and actual people are reading my typorrhea, here, I somewhat feel obliged to continue. And to not have the home page grow longer and longer, I decided to move everything that's older than two months into the archive. It's likely that nobody scrolls down that much anyway, so it should be good.
One of my favorite Twitter guys on the current Bitcoin market / price. I agree, this feels kinda similar, but (subjectively) less… "severe". Maybe it's because I'm doing this for the third time, now, and at some point, you just get used to all the shenanigans and just trust the price to go up.
Anyone remember yesterday? Bitfinex warned that "mercenary, meritless lawyers" are preparing a lawsuit basically based on bullshit. And guess who's here, today: Roche Freedman! 💩 I have no idea why it's such a mystery to those clowns that an asset goes up when somebody buys it (a.k.a. buys Tether and then Bitcoin).
I would not bet my ass on this, but I have the feeling that this is gonna age well. Bitfinex had a lot of (legal) trouble in the past, maybe even the most out of all crypto / shitcoin exchanges. And so far, they always managed to pull themselves out of it. I'd be surprised if they screwed up just now.
Were you ever annoyed about persisting losing strains in crypto trading? Did you ever wonder how others do it? Simple: they have a proper window! 😀
Jokes aside (Coindesk already fixed it), here's the link to the original story about one of the recent scams in Cryptoland: QuadrigaCX. Props to the wi(n)dow, though – returning the assets is the boss move. I wonder if her husband has really passed away, though. There were a few conspiracy theories which, under the circumstances given, could actually make sense.
Binance referral program: valid concerns! I always suspected that the referral rich lists are just another marketing method, and that it's close to impossible to make such gains.
Pretty cool: if you want to go shopping for free and you happen to live in China, all you need is a photo of somebody and you're ready to go. Amazing tech!!1
Another reason to finally stop using this pain in the ass called BitPay. Not only that it's close to impossible to do a normal transaction to an address provided, which I enter, together with the amount – now you need to verify your email address. They'd do a better job just doing normal fiat currency services, imho.
Let's start with this, today: because I'm often annoyed by the whole "Bitcoin maximalism" thing (and because I'm convinced it's a ruse people are falling prey to), I wrote a short blog post about the topic.
My favorite quote from the article comes right from FOMOhio: "Ohio Senator Sherrod Brown, for instance, called Facebook “dangerous” and unworthy of Americans’ trust."
I have no idea how I should be saying this in a friendly way, but I'll try my best: DON'T USE THIS FUCKING PIECE OF SHIT MESSENGER!!1 It's a trojan horse / backdoor to your smartphone. WhatsApp already tracks shit which should be none of its business. So, if you haven't, already, uninstall it. NOW! 🚮
If your friends and family are the reason you don't wanna do it: educate them on privacy, tell them it's important. Try converting your friends to Signal (this one can do messaging and phone calls) or at least Telegram. It's worth it. You don't wanna be a casualty of an AI algorithm putting you in the wrong category.
Reminder: never trust a legacy broker offering you access via MetaTrader 4. MT4 allows for several ways to scam you. If you want to sign up for a broker and see he's offering MT4, only: run!
Coinbase Pro is increasing its fees. Even though they already were one of the most expensive exchanges around.
Investing firm Vanguard Group is testing blockchain for trading legacy currencies.
Really, though: don't blindly buy stuff off the market because it's green. Wait for a proper dip and then jump in, if you have to. This isn't financial advice, this is crypto degenerate talk. Just in case.
Emergency! 🚑 Beaxy CEO is missing (see below)! I wanted to make this a bullet point right below the story, but as this is a topic which concerns me a lot, I decided to put it right up here. So, here we go: I know this is all new tech, so I'll give them that. And whenever new tech was invented, lots of companies fucked up and lost customers' money. But dammit, other platforms also get their shit done (more or less). I've been asked a few times, already, if I wanna join others in creating their own exchange. And by all means, I am a tech savvy person. I'd be more competent than most of the small shitcoin exchanges going bust one after another, but for fuck's sake, this is about customers' money. We've got so many fools who think it's a good idea to sell their house and their mother to buy the latest shitcoin, and you may argue that they deserve it. But as long as there's someone better in technology / security, I don't wanna be the one responsible for their loss. And I wish those small exchanges who thought they can make a quick buck would think this way, too. Guess I'm a dreamer.
Unverified (also read the former posts of the thread): how BitMax (supposedly) fucks over the projects which allow them to make money in the first place.
When legacy retail traders can't stand crypto people doing their thing. 😂
Orange phase of the Bitcoin Stock-to-Flow ratio has started. In past cycles, this phase used to be a bit more bullish, but overall, this still checks out. 🚀
General altcoin outlook is pretty good, recently… well, on most exchanges, at least. 😀 Also, keep an eye on how altcoins perform when BTC takes a nosedive: while throughout the whole of 2018 (and parts / most of 2019), such events used to have a profound impact on altcoin prices, this effect diminishes more and more. Sometimes, it even seems that a declining Bitcoin price makes altcoins go up. #ShitcoinSeason, soon™? 🤔
"We are concerned that the primacy of the U.S. Dollar could be in long-term jeopardy from wide adoption of digital fiat currencies." – Seems somebody starts learning from us.
Wow. Just follow the links in the main story. You can't make this shit up... literally one rabbit hole after another. And they still wonder why nobody takes us crypto folks for serious.
Hedera searching for solutions to not create a second Zcash shitcoin, chart wise. Who would have thought: 30 Dollars per coin isn't sustainable in a network which has 50.000.000.000 (yes, fifty f'in billion) coins.
Also from that article (in case anybody – like myself – didn't notice): Stellar decided to drop its inflation. Could be a good idea to support a short term pump.
No more cashing out: Zimbabwe's central bank has shut down mobile money for cash transactions.
Interesting evaluation of how Bitcoin performs in what month, from 2012 till now, so it's pretty extensive. What I found most interesting is that even in the worst bear markets, Bitcoin still had a few positive months left. 🚀 (As the user protected his tweets, here is a backup of that image… sorry for the low resolution)
From our category "The Daily Nonsense": Medium post explaining that keybase.io has a "backdoor" because it creates a Stellar address (for an airdrop, which Keybase has agreed to run for Stellar) in the Keybase wallet without the user's consent.
Jeffrey even filed a bug for this. I hope he's cool with the bugtracker using his face n sheit to advertise their platform. 😄
A few crypto exchanges sticked their heads together and came up with a great idea: they've invented a new game called "Rate My Shitcoin".
Memes never take long to arrive in cryptoland. 😂 Congrats on this. Seriously.
When a mining farm burns down and the Bitcoin network goes up in transaction fees + block times (100 minutes). #Decentralization
We've been talking about it for over a year, expectations were highest ever in regards to any project launch in crypto, and yet, the impact was "overwhelmingly underwhelming". We should have known… feeling a bit like an idiot for having said things like "I think Bakkt still has some firepower left, despite all the delays".
Facebook and WhatsApp will have to share their data with the UK police. Across nations that far away, you would assume this requires quite an effort. Guess what: all they have to do is ask. I cannot stress this enough: don't use these garbage services! Facebook is known to install malware on your device, track you across the internet and sell your data as if you were their digital whore. Whatsapp is an insecure piece of shit application, you don't want it anyway.
If you're bored, give this a listen. Pomp is running an interview with Aleksandar Svetski about Bitcoin maximalism, toxicity and other stuff you'd expect from an 100% Bitcoin guy. Depending on your overall views in relation to crypto, your bullshit meter might peak here and there, but he's a great guy who writes awesome articles on Hackernoon and runs Amber.
Mark Cuban on Bitcoin (even though the whole thing wasn't related). Last time this happened in 2017, we went from ~3k to 12k. Alright, Bitcoin. You heard him. Now do your thing! 🚀
Sorry, I don't have any Greta Thunberg memes, today. As an excuse, here's an article about someone who is clearly a bettetr Greta!
Proof that there's still people who are not able to understand Bitcoin / crypto. While comparing Bitcoin to lottery makes sense in a certain context, this one totally doesn't.
The nerve of that guy… what he's doing here is a rhethorical trick: he's giving us some (false) proof in the tweet before and bases his statement ("therefore, you're guaranteed to lose money…") on that proof. Jorge, I see what you did there!
Cool developer stuff: Differencify. Differencify is a node library which allows to compare local screenshots against current screenshots of a website, notifying you on the grade of difference.
Why I'm posting that in a crypto related context? Simple: we often have to deal with cases where someone retrospectively changes content on a website to make it appear that the content existed since forever. Think Craig Wright.
Possible use case would be to create a database with projects you want to monitor, and set up Differencify to create a snapshot in regular intervals.
If it detects a change / difference, it sends an email. Sounds cool, I might play with that once I have time.
Lightning vulnerability disclosure. Somehow incoming channels weren't always checked for genuinity, which allowed for an attacker to claim to open a channel but not pay (the full amount). Update your nodes if you haven't, already.
Roughly 17% of all Bitcoins available today are in third party custody. While it's great to see that a lot of coins are "self stored", this still needs improvement. Not your keys, not your coins! Most exchanges don't give a fuck about your lost wealth once they get hacked. They run and you have to deal with the consequences of your ignorance of leaving your coins on the exchanges.
Of course it's annoying that whenever it's about Greta Thunberg, people start arguing about the messenger instead of trying to make some sense out of the message. But you gotta admit, the memes are funny! 😂
The Bitcoin bear case (I hate to cover that here…): invert the current chart and see for yourself how "bullish" it is. The worst thing about this is: it looks totally legit.
Or does it not? Let's just open an x100 long on BitMEX with all of our money. What could potentially go wrong?
This is what happens when you play too much with crypto. Get ready for the journey of your life! /s
Bitcoin is still hovering around the 8.300 USD level. Bull case would be that we retest the 8.100±, not break it and then start cleaning up yesterday's aftermath. Hopium is stronk.
Just to mention it: shitcoins got rekt beyond imagination. What I find disturbing about the whole mess is that a perfectly valid target (8.000 level) in case Bitcoin breaks / broke down was reached in literally no time. This would have been fine for a third leg down, but as it is now, this looks pretty disturbing. So either we shoot back up soon or we can start writing applications for McDonalds, again.
Quote of the day by @CryptoDonAlt: "The only certainty in this market is that it always behaves in the way that puts altcoin holders in maximum pain."
Aeternity blockchain finally got a use case: it will be used to track (legal) Cannabis products in Uruguay. So, if you tout "ETH killer" to collect yuuuge money from "investors" and it doesn't work, just move on to drugs. I'm good with that, as long as it moves up and I can dump my miner's baglet.
I noticed I'm posting way too few memes. I'm gonna change that. 🤔
Just in case there's any (former) QORA bagholder: major news is in the making! Stay tuned!
Btw, I'm becoming a pro chartist, now. I just started: Bitcoin is painting an inverse cup & handle pattern. Am I doing this right?
Had a busy day yesterday, so I'll have to late file a few of yesterday's events today.
FairWin: when your favorite ETH ponzi scheme is already dead and left by its creators / exit scammers, but it is still reliable for the lion's share of ETH transaction fees paid, driving up transaction prices for everyone.
Bitcoin is relentlessly testing its support in the 9.500 area, and it even broke through for a moment. Will it hold? I really don't know… it might be a good idea to wait until we get a clean direction, even if it means missing some of the profits. I recommend not to catch the falling knife.
Ok, 9.500 is far gone by now. Bitcoin touched 8.000 (depending on where you look). Brings this tweet back into my mind.
They did it! Bakkt is live! Some people (including me, to be honest) were expecting another delay. Glad to be proven wrong on this.
Current volume is 18 BTC (right after the start), evening volume (20:00 CEST) is 62 BTC. No insane fomo, yet.
Good day for Tezos / XTZ: Binance eventually decided to list it. One of the Tezos guys said they didn't even need to pay a fee, which is a very good thing. I don't like those (mainly ETH shittoken) projects paying insane amounts for listings, which are ultimately paid by their "investors".
Prepare yourself for a great trading opportunity, tomorrow. Here's an interesting chart which more or less sums up what I'm expecting: some retards dumping Bitcoin to shit because they think they have to, whenever some major news broke and after a decent dip, clever buyers take over and add new fuel to the rally. I'm ready! 😎
Another one from the category "annoying crypto girlies". Or, as I prefer, from the category "male, old, fat basement dwellers trying out female avatars to gain more followers on Twitter".
US is planning to inject another 75 billion USD into the financial markets. And they say crypto is printing money out of thin air. Makes sense. Not.
Bitcoin hashrate continues to increase. What I find interesting is that, contrary to previous popular belief, hashrate is by no means a good indicator for the price. If it was, we'd be at some 30.000 USD per Bitcoin, right now. See the overall Bitcoin hashrate development here.
Would be interesting to use the hashrate development as some kind of fundamental analysis factor, and see if it correlates with other "fundamental" factors, such as searches for "Bitcoin", and compare it with other cryptocurrencies.
Are our private keys safe? Google claims to have reached quantum supremacy.
Today is a good day. To pimp the site a bit (and, to be honest, to satisfy my need to use emojis while typing), I added the emoji plugin to the TYPO3 extension ckeditor. Worked like a charm, until I tried actually using it. Whenever I wrote data to the MySQL database, it threw an error 🤦♂️, hinting me toward a charset error. So I checked all db settings, the tables themselves and finally managed to get it to work. Yay! 💪
Steven Nerayoff, early Ethhead, got charged with extortion. This is pretty fucked up and I hope he rots in jail. 20 years sounds fair to me.
I didn't even know that Poloniex regularly donates to @grinMW's open source development. Think of Poloniex what you want, and no question did they fuck up certain things, but giving back to the projects which allow them to make money in the first place is a good thing.
When crypto influencers don't know what to write about, anymore, they just recycle their old tweets, hoping nobody notices. 😁
Non crypto related: cop places drugs in innocent peoples' cars, which in at least one case lead to a father being separated from his children due to "possession" of methamphetamine. Wouldn't this be a great use of the death penalty?
It seems people (as well as contributors to the ecosystem) finally start realizing that a centralized blockchain with little to show but a stupidly huge ICO of 4.1 billion USD (yes, you read that right) is nothing but a failure.
What a great day. Shitcoins go straight through the roof and then, Electronic Arts pops in, telling people to "invest in Crypto". Awesome! 🚀🚀🚀
Bitwise talking about market efficiency, institutional level crypto custody and some more babble to shill their ETF to the SEC. Yo dude, markets have changed!!1
German Government takes action to block "parallel currencies", such as (and probably most importantly) Facebook's Libra. So, this is not an approach against blockchain / cryptocurrencies as a whole, but instead against private companies issuing their own currency.
Bitcoin's price volatility hits 5 month low. Since the move to 14.000 USD, we've been building a giant triangle which is about to resolve anytime soon. Consider it esotheric, but historically, triangles were what worked best to determine when Bitcoin was set for a big move (in whatever direction).
Binance makes its first investment in China in crypto media startup Mars Finance. Mars Finance is a Chinese direct competitor to CoinDesk, which isn't a CoinDesk competitor at all because Chinese and other markets are segregated.
OKex Korea delisting all its privacy coins, including Dash, Monero and Zcash. Reasoning: they violate the FATF's travel rule.
The Binance <> BitMEX fight over who created / invented / stole / whatevered whatever feature is being taken to the next level.
Meet CoinMarketCrap, a CoinMarketCap parody site which removes all the noise you get to find when visiting the original.
Nothing to see, here.
Hyperbitcoinized humanity colonizing space: a speculative series. Think about it what you want.
One of the best dick moves I've seen so far: organizer of Philadelphia's biggest blockchain conference is using a city billboard in one of the most highly-trafficked areas to... drums please: to call out Craig Wright!
#EOSPlay under attack: an attacker is congesting the network to gain advantage over others to manipulate the game.
Bitcoin could face a ban if its total value exceeds 100.000 USD, a "well known industry commentator" has warned. Let's face it: Bitcoin won't move to 100k in the blink of an eye, and I genuinely hope that this fool will be gone once we reach 100k.
For anyone interested in the Tezos Fork "Dune Network": there is a Telegram channel where you can now trade your DUN coins OTC. As always: be careful and expect scammers to pretend to be escrow, once you've posted an order.
DUN web wallet for use with Ledger. Unverified, use with caution, as always.
Russian law firm ZP Legal claims to be able to recover 2 Billion of the hacked funds of Mt.Gox. Reason (more or less): if you go to ZP Legal and file a claim, those who benefitted from the Gox hack might crap their pants and offer you compensation because they fear legal trouble. Sounds logic? Neither to me.
This video explains perfectly well how buying altcoins feels this day. Whenever you see signs of life and buy (I stopped falling for that a while ago), you get... well, see for yourself.
Many annoyed Binance users have been waiting for this to happen: Binance US is planning to go live next week™. Initially, six coins will be available for deposits: Bitcoin, Tether, Ether, Litecoin, Bcash and XRP.
Would be very interesting to track the volume of Binance US and put it into relation with their unique daily visitors, and then compare it to regular Binance. As you can imagine, Binance US will be monitored closely by authorities, so it's pretty safe to assume that there will be little Pump and Dump, compared to binance.com.
Today I learned (a bit late for an avowing Tezhead tbh) that there's an XTZ clone called "Dune Network". See their Medium pages here.
Boeing becoming part of the Hedera Hashgraph Council. Let's hope they never, ever, ever get the idea of blockchainizing their planes, because holy shit, imagine you're on a flight and all of a sudden, the plane stops working because 3 people decided to make a transaction at the same time and the network clogs.
Why we do not trust banks. Thanks @bradmillscan for sharing this interesting story. Confirmes once again how fucked up they are, and that they do not even hesitate to rip off old people who are customers for decades. Fucking pricks.
Today's most retarded question: was Jeffrey Epstein a BTC maximalist? Amazing what crypto magazines do for clicks. But the good thing is, only very few of them had anything even close to a reputation anyway, so it doesn't really matter.
…and today's best meme collection: @notsofast asking everybody to meme hard on that @zooko photo and when you think you've seen the best meme which cannot be surpassed anymore, someone posts this. :D
More ZCash jokes: "The use case is great. Providing groceries to @zooko!"
Bots becoming increasingly annoying: Twitter bots pushing / discrediting certain opinions. Would be fun to automatically analyze those bots to see where else they post and maybe find out who they belong to. Reminds me a bit on the ridiculous OKCoin localized Telegram chatrooms where bots do 24/7 bogus conversations to make those rooms appear frequented.
Proof that hashrate does not dictate price. It might correlate in some cases, and it might even be an important factor. But it's not the factor to define price. Nevertheless, we've got a new hashrate ATH on Bitcoin. I'm just not sure if I should congratulate.
Tether taking Ethereum stress testing to the next level: Yuan-pegged stablecoin on the Ether chain coming!
Prices are shitty: check. Slowed down selloffs: check. Disbelief wherever you look: check. So, either, altcoin season finally comes or we can leave them die in dignity. If there is any left.
TheBlock in trouble because of a lack of security: hobby researcher has found their Jenkins installation, claiming to have seen sensitive information, such as API keys, as well as them pulling sensitive information from GitHub repositories. While the former is a bad thing which should not happen at all (a simple iptables rule to only give the webserver access to Jenkins, plus Basic Auth for additional security would have solved this pretty well), I could not find any proof for the latter.
Udi on Libra: "If you honestly believe FB chose its own currency over BTC because of scaling issues, you are, for a lack of a better word, an idiot". He's right. Companies "doing blockchain" rarely use good, established chains to back their venture because it gives them less control and less chances for profit.
Bitcoin: the result of 40 years of research, development and demand.
Amaury threatening to stop developing if they raise the Bcash block size limit to 32mb
Here's his response. While he went into great efforts to trash talk a project which clearly deserves getting trash talked, he backpedaled, saying that he didn't mock Zombie Coin, but the SEC, instead.
Speaking of backpedaling: Adam Back's (@adam3us) opinion why the market cap matters… and why it doesn't.
Faces of rekt, or: why you should always conduct your own research and not listen to clowns on Twitter when it comes to what shitcoins you should buy. Most have a what I call "bag bias", meaning as soon as they own a disproportionally large bag of <insert random shitcoin>, they lose their objectivity and become unable to accept facts. This leads them to shill you their bags even when it's totally inappropriate to do so because you should have long sodl. So, to protect yourself, it's always best to just assume that anybody publically shilling you shitcoins has a bag bias. Just ignore it.
And from that very thread: some clown thinking the Buffet lunch with TRON's Justin Sun will result in a TRON ETF. Are people really that retarded? Please don't answer, I don't wanna hear it.
Calvin Ayre still not giving up. He finds it "moronic for Craig trolls to be happy for him to lose Kleiman case as this is bad for BTC and would prove #CraigIsSatoshi". Calvin, Bitcoin is already way beyond that. It's not 2012, anymore.
Here's the article Calvin linked in his tweet. Prepare for more denial, and a ridiculous attempt to put the Kleiman case into a totally wrong light. What a waste of database space. Don't read it.
This is what happens when you just hodl on to your fiat bags and hedge in no way: you will lose all your money. Comparison: this is what happens when you buy Bitcoin. In a fraction of that time.
The DOGE chart looks fantastic. Many altcoin charts look like this. And if you're annoyed by how bad your shitcoin bags perform, you might wanna check the charts and zoom out a bit. Don't sell your bags now.
Changpeng Zhao "spot on", again. Yes, for sure that guy is only trashtalking this new shitcoin IEO because he doesn't want others to lower his winning ratio. <surething.gif>
Today, a 94.500 BTC transaction (~1.000.000.000 USD) occurred on the Bitcoin blockchain. Nick Szabo on transaction reversing, network security and how the security here depends more on trust than the protocol itself.
After the BitMEX / Binance copying issue, I've had an interesting conversation about how BitMEX evolved, how they took one u turn after another, just to prevent bankruptcy. Thanks @BTCVIX for the link to his article on that!
Why increasing the gas limit on Ethereum is not that good of an idea.
Since half a year now, Bitcoin's dominance in the whole crypto market cap is rising and rising, which makes trading altcoins an absolut pain in the ass. At some point, only the testiest masochists will remain, until they get washed out, too. I'm starting to develop doubts on whether we will ever see a proper altcoin season, again. I'm still not completely ruling out the possibility that it might be a good idea to counter trade myself on that.
ZEC – glad I never touched that piece of shit coin. The only time it was interesting to trade was at the very, very beginning, when Polo listed it and it had no supply whatsoever. They paid like 4 figures for one whole ZEC, and after that, it dumped ever since.
Friendly reminder to not give sensitive information like your real phone number (which can be used for SIM port attacks) to Facebook. Or even better: don't use Facebook at all.
Delusion is not a virtue: some clown claiming that Bitcoin would now be at 30% of its current price if the ICO craze of 2017, mostly happening on the Ethereum platform, drew all the attention to crypto, which in turn also gave Bitcoin a small piece of the cake.
Should anyone EVER come up with the lie that Chinese recklessly copy stuff from others, I'll... what did you say? Binance copied the futures markets docs from BitMEX? CZ says, though, that this is still a leftover from when they acquired the exchange. True or not, I laughed.
Not really crypto related, but: if you think you salary is good, have a look what NYC mayor Bill De Blasio makes. 3.028 USD per month. Oh, wait, they get paid weekly in the US, right? Wait, it's not his weekly salary? He makes that much in a day? Not per day, PER HOUR?? Ok, I'm quitting my job, now.
I'm still kinda uncertain if all this "McAfee receiving x million for stupid task y" stuff is just marketing or if that guy really receives 4.5 million USD for writing a shitcoin whitepaper. Guess for what: a project which claims to "investigate zombies". Yes, you heard that right. Remember that one ICO where they used the picture of a convicted rapist as a "team member"? This is how scammers make fun of their victims. They mock them by implying they're so stupid, they won't even notice that one of the fake team members has an avatar of a convicted criminal. Because they don't check, they're driven by their own greed. While this is absolutely true, this is what this whole zombie coin thing reminds me of.
"Apparently, the South China Zombie Research Center is developing a token that will be accepted by humans and zombies. In case of an attack, a person could give a zombie tokens to save their life." – this shit can't be serious. I'm dead (as zombie) sure that this is a joke. Nobody can be that retarded.
Note: if McAfee wasn't involved in this, this sounds stupid enough to actually pump. But he owns – allegedly – 20% of the supply. And McAfee is bad kharma for shitcoins, so I can only advice to stay away.
CME group is sharing details on Bitcoin options that could signal an 'imminent' product launch. I'm not really a big fan of options trading, but whatever is good for Bitcoin…
German markets and capitalism focused party FDP goes shitcoin: cryptocurrency "Arbil" should reward those who save CO2 by putting it in a digital, tokenized cycle.
Electric Coin Company decided to not hand the ZCash trademark over to the ZCash foundation, allowing them to fork the chain and preserve the ZCash name in case they are not given the new founders' rewards.
Calvin Ayre: Kleiman case "can not do anything but educate on why #BSV is #Bitcoin". Guess you can sugarcoat anything if you try hard enough.
Another trading bedrock has gone full Bitcoin maximalism. This is a good example on how group dynamics work. Those people were often already pretty Bitcoin-vocal in the past, but recent events seem to have converted them into annoying spammers. #stackingsats
Finex derivatives exchange trying to gain trust by its users by doing casual 13% dumps for no reason. Did this really happen or is this an error in the chart? This thing prevails even after a Ctrl+F5, so I assume it's legit.
WoW video game designer Mark Kern on how he was told why WoW would fail against Everquest, like Facebook, Amazon and… Bitcoin would fail.
Oh, I totally forgot to link this yesterday: Binance acquires crypto derivatives exchange to offer options, futures and perpetual contracts. Definitely worth a mention, though I still prefer trading derivatives on BitFinex.
Good post on how the altcoin markets have changed in the past years, what causes them to dump and how they could gain more or at least retain their value: The Economics of An Altcoin.
Guys, this is awesome: 68 fucking million USD of Bitcoin shorts got rekt on BitMEX, today! Good job!
And now something supid. Pardon, beyond stupid: Human-Trafficking Expert Urges US Congress to Regulate Crypto Miners. Now guess why: to prevent human trafficking. Yes, you read that right. Bitcoin, the root of all that's evil, is the epicenter of human trafficking. It's also the cause of the hole in the ozone layer, the cause of Backstreet Boys and the cause of 'moar babies are dying!!1'. And whatever comes to your mind.
PlanB and some thoughts about the Stock-to-Flow model. In my opinion, this guy is definitely worth a follow (alongside with guys like Willy Woo). He's mainly posting about Stock-to-Flow, no troll chart bullshit, just observations which are – so far – pretty much spot on.
Short question: does anybody still give a shit about pop stars, actors and boxing champions releasing their own shitcoins? Wasn't that fancy years ago?
Weather going mad? No problem, let's just go to another planet, get fucktons of ice and dump it into the oceans. Problem solved.
Another day, another AMA by... guess who: Binance. Sometimes when people hold a talk, they close it with an AMA. Wouldn't it be funny if Binance finished its AMA with an AMA? This way, they could do even moar AMAs!!1
Another gem: HODLing is crap, (only) utility creates value. So, 10 years of blockchain experience just wiped away in a tweet. It's all wrong, utility is the only thing responsible for price increase but the markets don't know that, yet. Ok. His rant goes against this article, btw.
How could I miss that? Thanks, Emin, for bringing that up again, today. This is hilarious!
More degeneracy for BitFinex traders: BitFinex has launched its derivative platform! Meaning there's no need to throw your money at Arthur, anymore, because now, you can also gamble at 100x leverage on BitFinex. Isn't that cool?
Vitalik Buterin proposes to increase the gas limit to (partly) solve the problem with the Ethereum chain being close to full.
Someone went absolutely batshit fucking crazy on the BitMEX ETHUSD contracts. 3.250.374 contracts filled at 1.2 slippage, ~570 BTC. Only in crypto. Makes me wonder, again: where are the bears? Where's the break down to 8.000?
First deepfake scam (I've heard of): Fraudsters deepfake the voice of CEO to trick manager into transferring 243.000 USD. Fascinating world we live in. And frightening at the same time.
Ripple still has no plans on stopping to ever dump the XRP market – though it intends to slow down a bit.