CRYPTO COLLECTIBLES Bitcoin Insider

Why Amaury's stunt is clever, why it's a potentially recurring problem, and what can be done about it

TLDR: this isn't an Amaury problem, it's an incentive problem. If BCH splits and the ABC token retains even some residual value, then we're likely to see future "IFP splits" in other tokens and possibly BCH again.
Here's my take on The Amaury Situation.
I think he wants to get out of dealing with BCH and leading the ABC team. I think he's over it. I think he wants to go do something different.
He could quit and walk away. But why do that, when he could create a perpetual income stream for himself as well?
"Dead" coins hold value
A lot of people here seem to think the ABC split will be worthless. I disagree. It will have significant value:
Let's assume ABC is only worth $20. Even under this assumption, Amaury stands to get $10 every ten minutes in perpetuity - for doing absolutely nothing. That's $60/hr. (x 24 hours, or $1440/day) in mail money. That's a decent wage - a perpetual income stream (annuity) - with literally no work required.
But I think $20 is super low. Tokens strangely hold value long after the token appears dead. For example LTC is still worth about $50 - and that's AFTER it's champion announced it was a dead project and all the devs left (and LTC is much less scarce than BCH). FFS even BSV is worth $150 and the entire cryptosphere agrees its a scamtoken run by a con artist.
If LTC and BSV can do it, so can ABC. I predict ABC token will hold significant value.
If the ABC token can hold $50/coin, then Amaury looks to collect $150/hr. (x24 hrs - $3600/day). If it can hold $100/coin, then Amaury gets $300/hr (x24 hrs - ie $7200/day).
But even if it drops to $10/token, he still gets $720 every day.
For doing nothing.
Why is this a problem
This is a serious problem with our incentives. If he succeeds, Amaury will have piloted a repeatable exit-scam recipe for any reference implementation.
"Tired of supporting your halfass token and ragtag devs? Here's an easy escape hatch! Just create a version that pays you a nice annuity, let the token split, and retire with your annuity."
That's the problem. Amaury doesn't have to keep the ticker. He just has to successfully split the token into two tradeable tokens, and he wins his annuity.
What can be done
I'm not sure. I want Amaury to lose here. I want him to get zero annuity. I want to send a clear signal to the next Amaury that splitting the token in order to collect your annuity is a losing strategy.
But I can't see how to accomplish this.
One way would be to attack his chain through reorgs. But there is no direct incentive for miners to do this. And I don't support the notion that "bitcoin works because miners attack chains they don't support."
Another would be to try to drive the value of his token to zero. But that's basically impossible. I think it will be very hard to drive the value of his token even to $20. And at even $20 he gets a nice little annuity. Not a get rich quick scheme by any stretch, but still, it'll pay for a nice mortgage. I know I wouldn't turn down the chance to get an extra grand per day of mail money. So even at $20/token, Amaury will have demonstrated that his easy retirement plan will work. We need $2/token if we want to declare his strategy an unqualified failure. We can't.
And the problem here is that if/when BCHN (or anyone else) becomes the reference client, then its leaders will have the exact same incentive to cause a split when they're tired of managing the project and want out.
Conclusion
Amaury has surfaced a possible gaping vulnerability in the incentive system which creates a perverse incentive to continually create "IFP" type splits. This vulnerability exists in all bitcoin-like tokens. Unless we can find a way to completely block Amaury from his expected revenue stream, he will be setting a precedence that we can expect to see repeated on other tokens and possibly even on BCH again one day.
Edit: I wanted to point out that dskloet has reminded us there is a third option, and that is that instead of allowing Amaury to split the coin, we can soft-fork ABC in such a way that ABC considers the blocks to be valid, but the IFP funds are unusable. The obvious way to do this (as dskloet pointed out) is to blacklist the IFP address. But blacklisting has its own consequences. Another way to do this might be to do something like make the coins sent to that address "unmovable" so that ABC clients will see the blocks paying to IFP and therefore valid, but he can't spend the money.
Edit: to clarify
What's the difference between blacklisting and making the coins unmovable? Isn't that exactly what blacklisting is?
Blacklisting means not accepting transactions from address X.
I propose instead sending "fake coins" to address X. Like putting slugs into a coin-op machine. The machine owner can still try to spend the slugs, but nobody will take them. But the machine owner can still spend any valid tokens spent in the machine.
submitted by jessquit to btc [link] [comments]

How to sell xBricks for money (self post for mod approval)

Preface
I've written this guide with those that are unfamiliar with crypto in mind, however it's still a lengthy process. I'm going to try to present this in a way where you don't have to learn how the underlying crypto technology works, but I will add in links to relevant concepts in case you're curious. This process was a lot more complicated before but I made a web interface to simplify it.
At the time of writing this, FortniteBR BRICKs are worth 10 cents a piece. That makes 1000 bricks worth 100 bucks. The liquidity pool is about $14,000 at the time of writing, meaning that there's room in the market for you to hypothetically get $7,000 if you had a lot of BRICKs.
If at any point throughout this process you need help, DM me!
Misc. Resources That Might Be Helpful
What you need
You will need:
Step 1: Setup
On your desktop computer, install MetaMask. This is an Ethereum Wallet which will allow you to interact with the Ethereum Network and its many sidechains. More on this later.
Follow the setup instructions in MetaMask. If you've never done this before, you'll need to create a new seed phrase. Video tutorial if you get stuck.
YOUR SEED PHRASE IS THE KEY TO YOUR WALLET. ANYONE WHO HAS ACCESS TO YOUR SEED PHRASE CAN TAKE YOUR FUNDS. IF YOU LOSE YOUR SEED PHRASE YOU HAVE NO WAY TO RECOVER YOUR FUNDS. WRITE IT DOWN AND STORE IT IN A SAFE PLACE!!! NEVER GIVE IT OUT TO ANYONE - ANYONE THAT ASKS FOR YOUR SEED PHRASE IS TRYING TO SCAM YOU! DON'T FALL FOR IT!
In the MetaMask interface, you'll see "Main Ethereum Network". This process uses two networks. One of them is the Rinkeby Testnet (where the BRICK tokens are natively) and one of them is the xDAI network which is where we will bridge the tokens to in order to exchange them for Dai, a token which is pegged to the price of the dollar.
From the dropdown, select Rinkeby Testnet. If you're in the assets tab, you should see a thing that shows your ETH balance. Below this, you should see an "add token" button. Click it. Go to "Custom Token" at the top. In "token contract address," paste in the following:
0xe0d8d7b8273de14e628d2f2a4a10f719f898450a
The other fields will autofill. Hit next. You'll now see your BRICK balance (which will be 0, you haven't transferred your bricks yet) in MetaMask if you've done everything right.
You'll need Rinkeby Ether to cover transaction fees. Since we're on a testnet, the Ether is worthless which means people hand it out for free. You can get this Ether from a variety of places:
Now it's time to get your BRICKs from your Reddit vault into your MetaMask wallet.
WARNING: ALL CRYPTO TRANSACTIONS ARE IRREVERSIBLE.
Your Ethereum address shows up under Rinkeby. It should be "0x" followed by a bunch of hex characters. Click on it to copy it to your clipboard. You now need to somehow get this to your mobile device. Email it to yourself, text it to yourself, whatever.
On your Reddit mobile app home screen, click on your profile icon and then go to vault. You'll need to set this up and claim your tokens if you haven't already. Be aware that this is also technically an Ethereum wallet. Keep your seed phrase safe.
Send however many BRICKs you want to sell to your MetaMask wallet. Check to make sure the addresses are the same, but don't worry too much about making a typo or whatever. The chances that you'd make a typo that would result in a valid Ethereum address are slim, if you get a character wrong it'll just tell you it's not a real Ethereum address and prevent you from sending.
It may show an error when you try to send. This is somewhat rare but pretty normal. They often run out of testnet Ether. Come back later and try again.
If it works properly, it'll take about a minute to go through. It may take longer than that.
Once the transaction goes through, you'll see that you have an absurd amount of BRICKs in MetaMask. No, there wasn't a glitch. The people who wrote the code for BRICKs made the decimals of precision weird for some reason. It's off by a factor of 1018. This isn't a big deal.
If you see Bricks and Ether (ETH) in your MetaMask wallet, proceed to the next step. If you're having issues, feel free to DM me.
Step 2: Getting Your BRICKs from Rinkeby to xDai
There's a LOT going on under the hood for this part (deets for those interested). Previously this required manually generating contract interactions, which is kind of a pain if you're new to Ethereum. I made a UI to make this easier (it generates the transactions for you, all you have to do is sign them with your wallet). This took way longer to do than you might guess, so feel free to help a homie out at:
0x4BCcC2569DD93C7dF43431A7b70db569dedB6187
Go to my tool. Hit connect. If you're on the Rinkeby network, it should show your balance in BRICKs. Enter the amount you want to bridge (probably all of them). If neither of us have made any mistakes, it should pop up with a request to spend your BRICKs. If there's any issue with this tool, DM me. This allows the TokenBridge contract to take your BRICKs and put them on the xDai network where you can sell them. This is the part where you'll get an error if you don't have any testnet ETH. Set the gas price to 1 (the suggested price is based on the Main Ethereum Network - it's way too high). After you approve that, it'll give you another thing to accept. This is the actual transaction where it'll bridge to xDai. Again, make sure the gas price is set to 1 and confirm the transaction.
Add xDai to MetaMask
Switch to the xDai network. We're going to add another token. Again, go to "add token" > "custom token" > "token contract address". Paste in:
0x2f9ceBf5De3bc25E0643D0E66134E5bf5c48e191
If the transactions have gone through, you should see your xBricks (the name for BRICKs that have been bridged to xDai) in MetaMask. If not, wait a bit for the transactions to go through. Sometimes there are slowdowns that cause bridging to take a while. Shouldn't take too long, though. Once that's done, you're ready for the next step.
Step 3: Trading Your xBricks for xDai
Go to Honeyswap. Hit "select a token." You'll need to paste in the xBrick address again. Here it is:
0x2f9ceBf5De3bc25E0643D0E66134E5bf5c48e191
Click xBrick.
You'll need to flipflop the trade around by hitting the arrow button. xBrick should be on top. Type in the amount of xBricks you want to sell, or hit max to sell all of them. 1 xDai = $1. You'll need to hit approve first. Set gas price to 1 again. Then you can complete the trade by hitting swap. After a bit, the xDai should show up in your wallet.
Step 4: Mainnet
Everything on Mainnet costs actual money to do. It costs about 50 cents to make a transaction and it costs about 3 bucks to use an exchange like the one we just used. If you don't have mainnet Ether, you won't be able to do anything with your mainnet Dai (what xDai is called when it's bridged back to the main Ethereum network). You may be able to find someone to lend you some ETH to make these transactions with. Whatever you do, just be aware.
If you still want to bridge your xDai into Dai, go here and make sure xDai is on the left. If it's not, go in the top right and select xDai chain. Enter the amount of xDai you want to bridge to mainnet and then hit transfer. Follow the prompts. This part may take up to an hour due to recent network congestion. After it's done, if you go back to Main Ethereum Network in MetaMask you should see your Dai.
If you have a few bucks of ETH, you can use UniSwap to convert your Dai to even more ETH. Uniswap tutorial
Things you can do with ETH
submitted by Oninteressant123 to u/Oninteressant123 [link] [comments]

Bitcoin Options = easiest $

Selling 10% OTM 6+ months Bitcoin calls against a hedged long position (it can either be a naked call or a vertical credit spread)
or
Selling a 6+ month ATM strangle while buying some BTC to keep it delta positive. I like 6+ months because you will still collect plenty of decay yield but the huge cushion of the large premiums minimizes the volatility of the trade.
Both these trades takes advantage of:
The tendency of Bitcoin to spend many months (or even years) doing nothing, unlike stocks witch can keep going up and up forever like Tesla and Amazon. Bitcoin has been between 3-12k for the past 3 years but mostly between 7-10k. This means the calls will likely expire worthless, which means tons of $ from premium.
However, unlike a stock, Bitcoin cannot go to zero, so the sold put and the underlying BTC will not incur too much of a loss if BTC was to fall.
Bitcoin has a very high IV, so this means rich, overpriced options and tons of decay $, while at the same time, very little directional movement. This is the perfect condition for selling strangles. Selling the strangle means put + call decay.
The problem is that trading bitcon options is difficult and cannot be done on platforms such as Robinhood. But if you can get it to work, it is like an ATM.
submitted by vn4dw to options [link] [comments]

Why most people think Bitcoin is a scam?

Bitcoin has been around for 11 years now, with a large ecosystem of exchanges, wallet providers, and apps behind it. There are now many governments recognizing it as legitimate, bringing a large number of investors into it. For just a short amount of time since its inception, I'd say that Bitcoin has achieved extraordinary results. While all of this sounds good, most people still seem to believe that Bitcoin is a scam or not worth their time. For instance, Warren Buffet criticizes Bitcoin telling that it'll become "worthless" over time. It's these negative comments, which make people skeptical about using Bitcoin and cryptocurrencies as serious money for day-to-day payments.
No matter how crypto enthusiasts try to convince people to believe that Bitcoin is legitimate, everything seems to be the same. I'm starting to wonder why most people have this kind of mentality towards Bitcoin? After all, the pioneer cryptocurrency is being traded at legitimate exchanges. Even some governments have been collecting taxes from Bitcoin. But that hasn't changed people's minds about it. What are your thoughts?
submitted by dojogang to CryptoOasis [link] [comments]

Selling Bitcoin Strangles and Vertical Calls

Trade:
Selling 10% OTM 6+ months Bitcoin calls against a hedged long position (it can either be a naked call or a vertical credit spread)
or
Selling a 6+ month ATM strangle while buying some BTC to keep it delta positive. I like 6+ months because you will still collect plenty of decay yield but the huge cushion of the large premiums minimizes the volatility of the trade.
Both these trades takes advantage of:
The tendency of Bitcoin to spend many months (or even years) doing nothing, unlike stocks witch can keep going up and up forever like Tesla and Amazon. Bitcoin has been between 3-12k for the past 3 years but mostly between 7-10k. This means the calls will likely expire worthless, which means tons of $ from premium.
However, unlike a stock, Bitcoin cannot go to zero, so the sold put and the underlying BTC will not incur too much of a loss if BTC was to fall. The premiums of the strangle is large enough that Bitcoin would have to fall a lot to incur large losses.
Bitcoin has a very high IV, so this means rich, overpriced options and tons of decay $, while at the same time, very little directional movement. This is the perfect condition for selling strangles. Selling the strangle means put + call decay as bitcoin bounces forever between 8k-12k . or 10k-12k. When Bitcoin get stuck in a rut, it can be months or even a year before it does anything.
The problem is that trading bitcon options is difficult and cannot be done on platforms such as Robinhood. But if you can get it to work, it is like printing money.
Deribit and TOS have bitcoin option trading.
Another nice thing about bitcoin is you can use a mix of alts to hedge the position. For example, you can short ETH as a hedge for being long BTC
submitted by vn4dw to thetagang [link] [comments]

30+ Reasons Why Cryptocurrencies Are Worthless

1)It is possible to change the code through a miner vote or a fork and change the total supply or anything. DASH did it : they reduced the total supply from 84M to 18.9M a few years ago. They could also increase it to 999 Trillions if they wanted to so that millions of DASH are mined every week.

2)You can also fork bitcoin anytime , start over from 0 and claim it's the real bitcoin. (BCH , BSV , BTG , LTC , BCD etc)

3)Why would you pay $10,000 for a digital collectible unit called BTC when you can use BCH or TRX or LTC .. you name it. They work just as fine and cost less. There is no rarity like in gold.

4)Think of any amount you hold in ethereum as a gift card to use smart contracts on the ETH blockchain. Ridiculous. You’d rather hold a wal mart gift card or even simply cash.

5)Private keys may be bruteforced as we speak. Quintillions entries a second. When they’ll have enough bitcoins under control , they could move them all at once instantly.(At least 45,000 ETH have been stolen this way for now through ethereum bandit)SHA 256 is too old , bitcoin is 10 years old , it is not secure enough , quantum computing could potentially break it.

6)And that’s if people don’t find a way to create an infinite amount of coins to sell on exchanges.. it happened with monero , stellar , bitcoin , zcash , zcoin , eos , etc..

proofs :

“Bitcoin , Coindesk : “The Latest Bitcoin Bug Was So Bad, Developers Kept Its Full Details a Secret”an attacker could have actually used it to create new Bitcoin — above the 21 million hard-cap of coin creation — thereby inflating the supply and devaluing current bitcoins.”

Stellar : “Stellar Inflation: Glitch Leads to 2.25 Billion Extra XLM Printed”

Monero : “A bug in the Monero (XMR) wallet software that could enable fake deposits to exchanges has been recently brought to public attention through a Medium post”

Zcoin : Forged coins were created, but not exceeding 1% of the circulating supply. We will release further details on exact numbers when Sigma is released.

EOS : “Hackers Forge Billion EOS Coins to Steal Real Crypto From DEX “

Zcash : “Zcash Team Reveals It Fixed a Catastrophic Coin Counterfeiting Bug” etc..

7)Segwit , and especially Lightning network is a very complex technology and it will inevitably have flaws , bugs , it will be exploited and people will lose money. That alone can cause bitcoin to drop very low levels.

8)Then miners may be losing millions so they will stop mining , blocks may be so slow , almost no transaction will come though , and bitcoin may not have enough time to reach the next difficulty adjustement. This is reffered to as a death spiral. Then every crypto even those with no mining involved may crash hard.

9)Many crypto wallets are unsafe and have already caused people to lose all their investment , including the infamous “parity wallet”.

10)It is NOT trustless. you have to trust the wallet you’re using is not just generating an address controlled by the developper , you have to trust the node the wallet connects to is an honest node , you have to trust a Rogue state or organization with enough computing power will not 51% attack the network. etc..

11)Bitcoin is NOT deflationary. Bitcoins are created every blocks (roughly every 10 minutes) and you wil be dead by the time we reach the 21 million current hard cap.

12)Bitcoin price may artificially be inflated by Tether.

13)It’s an energy waste , an environmental catastrophy.

14)The only usecases are money laundering , tax evasion , gambling , buying on the dark net , evading sanctions and speculation.

15)Governments will ban it if it gets too big , and they have a big incentive to do so , not only for the obscure usecases but also because it threatens the stability of sovereign currencies. Trump could kill bitcoin with one tweet , force fiat exchanges to cease activity.

16)Most cryptos are scams , the rest are just crazy speculative casino investments.

17)It is pyramidal : early adopters intend to profit massively while last comers get crushed. That's not how money works. The overwhelming majority of crypto holders are buying it because they think they will be able to sell it to a higher price later. Money is supposed to be rather stable. That's why the best cryptocurrencies are USDT USDC etc..

18)The very few stores accepting bitcoin always have the real price in the local currency , not in bitcoin. And prices like 0.00456329 BTC are ridiculous !

19)About famous brokers listing bitcoin : they have to meet the demand in order to make money , it doesn't mean they approve it , some even short it (see interactive broker's CEO opinion on bitcoin)

20)People say cash is backed by nothing and losing value slowly , and yes it is very flawed , but there is a whole nation behind it , it's accepted everywhere , you can buy more things with it.

21)Everybody in crypto thinks that there will be a new bullrun and that then , they will sell. But because everybody thinks it will happen , it might not happen. The truth is past performance doesn’t indicate future performance and it is absolutely not guaranteed that there will ever be another bullrun. The markets are unpredictable.

22)Also BTC went from about $0.003 to the price it is today , so don’t think it’s cheap now.

23)There is no recourse if you’re scammed/hacked/made a mistake in the address etc. No chargebacks. But it might be possible to do a rollback (blockchain reorganization) to reverse some transactions. BSV did it.

24)In case of a financial crisis , the speculative assets would crash the most and bitcoin is far from being a non speculative safe heaven ; and governments might ban it to prevent fiat inflation to worsen.

25) Having to write down the private key somewhere or memorize it is a security flaw ! It’s insane to think a system like this will gain mass adoption.

26) The argument saying governments can not ban it because it is decentralized (like they banned drugs) doesn’t work for cryptos. First , drugs are much harder to find and much more expensive and unsafe because of the ban , and people are willing to take the risk because they like it. But if crypto is banned , value will drop too much , and if you can’t sell it for fiat without risking jail , goodluck to find a buyer. Fiat exchanges could close. Banks could terminate every crypto related bank account. And maybe then the mining death spiral would happen and kill all cryptos.

27) Crypto doesn’t exist. It’s like buying air. It’s just virtual collectibles generated by a code. Faguzzi, fugazzi, it’s a whazzie, it’s a whoozie.. it’s a.. fairy dust. It doesn’t exist. It’s never landed. It’s no matter, it’s not on the elemental chart. It… it’s not fucking real!

28) Most brilliant guys have come out and said Bitcoin was a scam or worthless. Including Bill Gates , Warren Buffet , The Wolf Of Wall Street…

29) Inflation is necessary for POW , BTC code will have to be changed to bypass the 21M cap or mining will die ! If BTC code is not changed to allow for miners to be paid reasonably , they will cease mining when the bitcoin block reward gets too low.Even monero understood it ,the code will have to be changed to allow for an infinite bitcoin supply (devaluating all current bitcoins) or the hash will decrease and the security of bitcoin will decrease dramatically and be 51% attacked

30) Don’t mix up blockchain and cryptos. Even blockchain is overrated. But when you hear this or that company is going blockchain , it doesn’t mean they support cryptocurrencies.

31) Craig Wright had a bitcoin mining company with Dave Kleinman (he died) and on january 1 2020 he claims he will be able to access the 1.1M BTC/BCH/BTG from the mining trust. He may or may not dump them on the market , he also said BTC had a fatal flaw and that by 2019 there will be no more BTC.

32) Hacks in cryptos are very common and usually massive. Billions of dollars in crypto have been stolen in the last 6 years. In may 2019 Binance was hacked and lost 7,000 BTC (and it’s far from being the biggest crypto hack).

33) Bitcoin was first. It's an ancient technology. Newer blockchains have privacy, smart contracts, distributed apps and more.Bitcoin is our future? Was the Model T the future of the automobile? (John Mc Afee)

34) IOTA investiguating stolen funds on mainnet. IOTA shuts down the whole network to deal with trinity wallet attack.

35) Compared to bitcoin other cryptos work just as fine and don't waste so much energy.

36 ) Everytime miners disagree on the updates it will create another version of bitcoin : problem of governance and legitimacy.

37) Cryptos are only legitimate if they act as a credit for a redeemable asset like USDT or gold backed coins.


While the native language of the writter is not english , I think you get the point and it doesn't make it any less relevant.
submitted by OverTheRedHills to u/OverTheRedHills [link] [comments]

Bitcoin Obituaries Lists Another Crypto Eulogy, 2020 BTC Deaths in the Single Digits

The infamous “Bitcoin Obituaries” has seen another addition to the long list of deaths since bitcoin’s oldest death on December 15, 2010. According to the list of articles with 382 deaths to-date, bitcoin was declared dead again on September 4, 2020.
Ever since Satoshi Nakamoto released the decentralized network, a number of people have doubted bitcoin and over the years some individuals have deemed the project “dead.”
Famous people, journalists, economists, luminaries, and many more have written long-winded essays on why the cryptocurrency is sure to fail. The website 99 Bitcoins maintains a list of “Bitcoin Obituaries” collected over the years and so far there’s been 382 deaths in total.
This past weekend the crypto economy slid in value considerably, as a number of digital currencies lost between 15-35% during the last seven days. Out of the top ten coins in terms of market capitalization, binance coin (BNB) staved off the market rout by only losing 12% and bitcoin (BTC) lost a touch over 16%.
The rest of the top ten crypto assets lost a much larger percentage, as coins like ETH and DOT lost close to 30%. Despite this, another bitcoin obituary was listed on September 4, when BTC dropped to $10,500 per coin.
The death stems from the web portal Newsbtc and it was written by Uri Shalev who titled the article: “Bitcoin is Worthless in Long-term.” Shalev says that even Warren Buffet won’t go near the crypto asset and BTC must be a bubble.
“In contrast, bitcoin or other digital currencies are very likely worthless in the long term, and those are the kind of assets that investing legend Warren Buffet won’t touch,” Shalev writes. “It’s these latter kinds of assets that have a greater chance to be in bubble territory because they don’t generate cash flow to support their valuations.”
submitted by Eugenebtc to Bitcoin [link] [comments]

Random idea: USL, but for Bitcoin addresses

This is my rough idea for a Bitcoin change that would allow for a bit more fraud protection. I might write up a BIP later if I get around to actually nailing it down.
For those unaware, the Universal Scammer List (USL) is a page dedicated to keeping track of the usernames of scammers on Reddit. Basically, if you want to conduct a transaction with someone on Reddit, you should first check if they're listed as a known scammer.
My idea is to do the same with Bitcoin addresses. A decentralised database of blacklisted addresses would be kept by anyone running a full node. Any funds in the blacklisted addresses are deemed worthless.
For example, address A gets listed for hacking into an exchange and stealing coins. Any funds held by address A would be deemed worthless. If they send 10 BTC to address B, then the network would remember that address B has 10 BTC that is worthless. If address B originally had 5 BTC and was sent 10 BTC by address A, they would have 15 BTC, but the bottom 10 BTC would be deemed worthless. If address B sends 2 BTC to address C, then C receives 2 good BTC and B is left with 3 good BTC and 10 blacklisted BTC, but if B sends another 4 BTC to address D, then D would receive 3 good BTC and 1 worthless BTC, and the network would now remember that D has 1 worthless Bitcoin. Therefore, before accepting the transaction as payment for something, they would have to check to make sure that they are not receiving worthless blacklisted coins.
Miners could also choose to selectively refuse to mine transactions involving blacklisted BTC because any miners' fees collected from such a transaction would be blacklisted as well. This could mean someone trying to send blacklisted BTC is essentially broadcasting a transaction with a 0 sat/byte fee rate, meaning their transaction would probably be stuck in the Mempool for quite a long time, if not forever if miners refuse to mine it.
Whenever someone wants an address blacklisted, they would announce it to the public via any mechanism, and anyone keeping a full node can decide whether or not to blacklist the address. Therefore, anyone who disagrees with the blacklisting is free to accept the coins at face value or mine them into a block. If you don't agree with the evidence presented, then you are free to not blacklist them. Therefore, contested coins would only be accepted as valid payment by those who think the coins should have never been blacklisted in the first place.
This system would not be meant to help every single person who gets scammed with Bitcoin, but it would discourage large scale wholesale Bitcoin fraud. It would be ridiculous to expect all full-node maintainers to become arbitrators of all disputes, and consensus would never be reached on half of the transactions being processed. Node operators would also ideally not have to remember as many transactions involving blacklisted coins because miners would refuse to mine them (transaction fees collected would be in blacklisted coins), meaning they'd be stuck in the Mempool for long periods of time, reducing the speed at which they can be moved around, if at all. So the ledger of blacklisted coins would not have to be updated extremely often. Blacklisting would only happen for really big scams involving tens or hundreds of Bitcoin, like if an exchange got hacked or something.
Scams have effectively less than an hour to be discovered. 10 minutes for the deposit into the address in question, and more, depending on how many block confirmations something must have before others will accept it for transactions sell goods for it. Therefore, if a merchant requires 3 block confirmations, then they would give 40 minutes for the address to be blacklisted. If the buyer's address is blacklisted before the transaction to the merchant gets 3 block confirmations, the merchant would realise they've been sent blacklisted coins and not ship the goods. 40 minutes isn't a lot of time, but it's better than nothing.
This has the additional effect of encouraging people to wait for more confirmations. For low-value transactions, the risk is nominal because even if you were sent worthless coins, you're probably only out the price of a coffee. But if you're selling a house, you might want to wait for even more block confirmations.
Money sent around too much could be deemed "too late to blacklist" if there is a risk that it would result in too many innocent people's Bitcoin getting blacklisted.
This system doesn't refund the Bitcoin of victims, so poor security practices would still be punished by a loss of coins, but criminals would not be rewarded for their efforts either. The lack of reward (or the risk of a lack of reward) would hopefully make people less inclined to try and pull off the type of big scams that are giving Bitcoin a bad reputation!
submitted by NateNate60 to Bitcoin [link] [comments]

Why Bitcoin is going to infinity

Since fiat currencies are not backed by anything, even gold anymore, they should all collapse eventually through hyperinflation as the temptation to devalue the currency (and associated debt obligations) through printing is just too great (see also the Cantillion Effect)
This process should be accelerated by Bitcoin as an unstoppable deflationary alternative store of value by causing speculative attacks on all fiat (I give a rough estimate of 50 years perhaps a lot sooner).
As they hyperinflate and collapse Bitcoin price in each fiat currency should approach infinity (i.e. how many Zimbabwe dollars is a bitcoin worth? Near infinite as it is no longer in circulation and only has collectible value).
Eventually all fiat currencies will have failed (including the dollar but it will probably be the last one as they will start to fail weakest first like Venezuela) and bitcoin is the only global unit of account, meaning nothing is priced in dollars or euros anymore as they no longer exist, everything is priced in bitcoin and there is no other frame of reference to price things in other than perhaps gold (but hey we're talking like 2070 at this point and who wants to pay for things with a shiny rock when we have augmented reality built into our vision or whatever cypherpunk future we are living in at the time).
As these currencies fail Bitcoin's value should increase faster and faster asymptotically approaching infinity when priced in fiat terms until people stop using the fiat currency as it is seen as worthless (a wheelbarrow of money to buy a loaf a bread, etc.) at which point there is no objective way to measure Bitcoin's value in the failed fiat and we will instead measure Bitcoin's value in it's purchasing power.
Once all fiat currencies have failed Bitcoin will be the single global unit of account then at that point the purchasing power of bitcoin would continue to grow but at a decreasing rate until it has absorbed all the store of value function for the planet and settled at a "stable" final price which would then only grow or shrink in relation to global production output. This is the latter half, flattening of the S-curve after universal adoption but we have not even hit the inflection point yet so there is many orders of magnitude of growth remaining before that point.
submitted by BitcoinFan7 to Bitcoin [link] [comments]

Round up of Cryptocurrency News #3 Week 20/07 - 26/07

Pssst! Hey you. Scroll down for commentary!
Important/Notable/Highlights:
Special Mentions:
You haven't had enough news? Here is some more:
Speculation:
You made it! :)
First up, SORRY! This has been a late post, I have my reasons don't question them (if you must know I'll be posting in the discord - one time only haha). Secondly, I am sure you can agree with me when I say "Wow!" What an incredible week it has been. Last week I thought it was going to take a couple more weeks for more moving price action when it had only taken a few days which has seen Bitcoin reach and pass the $10,000 region. We have also seen the total Market cap for cryptocurrencies increase from about 280B to over 300B (308B at time of writing) within just a few days. A huge injection of liquidity, about 40B, into the market and just to name a few of the best rises in the top 20 (on Coinmarketcap.com), the price of ETH BTC ADA have given good performances/positive responses (With this I will start adding screenshots at the end of each week for timestamp purposes).
This may be a combination from Binance, Mastercard, Paypal, Grayscale investments, VISA AND the DEFI sector. Let me explain... Last week we read about Binance integrating with the company Swipe (SXP) to issue there own debit card expanding the use and reach of cryptocurrency to 31 countries within Europe. Binance's Q2 scheduled token burn of $60.5 Million, this figure correlates with its exchange, margin and futures trading platforms where approximately 20% of profits get burned to increase the price of BNB token (careful as the price has been steady after the burn).
This week we find out Mastercard's expansion into the Cryptosphere as they expand and integrate with the Wirex team to issue a Mastercard-backed Bitcoin debit card, thus further extending the reach of cryptocurrency availability internationally.
"The cryptocurrency market continues to mature and Mastercard is driving it forward, creating safe and secure experiences for consumers and businesses in today’s digital economy " "...Our work with Wirex and the wider crypto ecosystem is accelerating innovation and empowering consumers with more choice in the way they pay"
Mastercard is also reaching out to other emerging cryptocurrency firms to apply to become principal members [Partners] with Mastercard as they have relaxed their digital assets program and look to expand into the Digital Assets and Blockchain environment.
Paypals expression of interest in cryptocurrency facilitiation may bear fruits as it is said Paypal has partnered up with stablecoin operator Paxos (who is already in partnership with Revolut in the US) to facilitate trading through a cryptocurrency brokerage which will enable other firms to integrate cryptocurrency trading functionalities with them. In my opinion this looks much more promising than the Libra association they pulled out from last October as regulations.
Grayscale Investments clears regulatory hurdle as they have been given the green light for its Bitcoin Cash Trust (BCHG) and Litecoin Trust (LTCN) to be quoted in over-the-counter (OTC) markets by US Financial Industry Regulatory Authority (FINRA).
“The Trusts are open-ended trusts sponsored by Grayscale and are intended to enable exposure to the price movement of the Trusts’ underlying assets through a traditional investment vehicle, avoiding the challenges of buying, storing, and safekeeping digital Bitcoin Cash or Litecoin directly.”
More green lights for Cryptocurrency in the US as regulators allow banks to provide cryptocurrency custody services (which may go further than just custody services). A little bit strange as it seems unnecessary and undermines one of the key factors and uses of cryptocurrency which is to be in complete control of your own finances... On another outlook this may be bullish as it allows US banks to provide banking services directly to lawful cryptocurrency businesses and show support for Bitcoin.
Visa shows support stating they have a roadmap for their further expansion into the Crypto sphere. Already working with Crypto platform Coinbase and Fold they have stated they recognise the role of digital assets in the future of money. To be frank, it appears to be focused on stable coins, cost effectiveness and transaction speeds. However they are expanding their support for crypto assets.
AND MOST IMPORTANTLY, DeFI! Our very own growing section in crypto. Just like the 2017 ICO boom we are seeing exorbitant growth and FOMO into the Decentralised Finance sector (WBTC, Stablecoins, Yield farming, DEXs etc). The amount of active addresses on Ethereum has doubled but with the FOMO on their network have sky rocketed their fees! Large use-cases of stable coins such as USDT ($6B in circulation using ERC-20 standard), DAI, TUSD, and PAX. $114M Wrapped Bitcoin (WBTC) on their network acts as a fluid side chain for Bitcoin and DEX trade volume has touched $1.6B this month. With all this action happening on Ethereum I saw the 24HR volume surpass BTC briefly on Worldcoinindex.com
In other news, Bitcoin has been set as a new precedent in a US federal court in a case against Larry Dean Harmon, the operator of an underground trading platform Helix. Bitcoin has now legally been ruled as a form of money.
“After examination of the relevant statutes, case law, and other sources, the Court concludes that bitcoin is money under the MTA and that Helix, as described in the indictment, was an `unlicensed money transmitting business´ under applicable federal law.”
Quick news in China/Asia as floods threaten miners and the most dominant ASIC Bitcoin mining rig manufacturer Bitmain loses 10,000 Antminers worth millions alledgedly goes missing or "illegally transfered" with ongoing leadership dispute between cofounders.
Last but not least, Cardano (ADA) upgrade Shelley is ready to launch! Hardfork is initiated as final countdown clock is switched on. At time of writing the point of no return has been reached, stress tests done and confirmation Hardfork is coming 29/07 The Shelley Mainnet upgrade is a step toward fast, capable and decentralised crypto that can serve billions of people. With the Shelley Mainnet is ADA staking rewards and pools! Here is a chance for us Gravychainers to set up a small pool of our own. Small percentage of profits going into the development of the community, and you keep the rest!
If you read all of my ramblings thanks heaps! I appreciate it! I have added an extra piece of reading called speculation. Most you can speculate on by just reading the headline some others have more depth to them.
Another post next week for a weekly round up! Where do you think the market is going? What is in your portfolio? Let us know in the Gravychain Discord Channel
See you soon!
🍕 Bring some virtual pizza to share 🍕
Come have a chat, stimulate a discussion, ask a question or share some knowledge. We are all friendly crypto enthusiasts up for a chat, supportive and want to help each other with knowledge and investments!
Big thanks to our Telegram and My Crypto HQ for the constant news updates!
P.S.
Dr Seuss collectables on the blockchain HECK YEAH! and Bitcoin enters NASCAR, remember when Doge did this? it was like when Doge was trending on TikTok.
... Oh yeah did I also mention Steve Wozniak is suing Youtube, Google over rampant Bitcoin scams. Wait, what? Sydney based law firm JPB Liberty is suing Google, Facebook and Twitter for up to $300B. Just another day in the Cryptosphere.
submitted by IOTAbesomewhere to Gravychain [link] [comments]

The Bear Market is in full swing, but this irks me...

What frustrates me the most about all of this is that once the crypto-market has bottomed out, the parties involved will likely never acknowledge that perhaps they were delusional to begin with. They won't acknowledge that deflation isn't the answer to all economic problems or that the reason a child starves somewhere in the third world isn't because we use fiat instead of Bitcoin. They will still believe that if we had all not conspired against decentralization and blockchain, they would have shot to the moon and we'd all have free internet, lambos, and our mortgages would all cease to exist.
I see the butter blame going to a few places instead, all of which are undeserving. They are as follows:
The Conspiracy Targets: The Rothschilds, George Soros, "They", etc.
Reality: You're probably just an anti-semite who doesn't have the patience or diligence for research beyond blog blurbs and Twitter.
The Whales: JP Morgan, Goldman Sachs, Wall Street traders, etc.
Reality: These people love money. They don't care if its gold, paper or crypto. If they thought switching from dollars to Dogecoin would boost their bottom line by 1% and get them a bigger bonus, they would do it in a heartbeat.
Traditional Media: CNN, CNBC, etc.
Reality:As someone who watches the traditional news, particularly the financial news, at work on the regular, I can say that CNBC spends probably as much if not more time each day discussing cryptocurrency than they do the bond market. The global bond market is nearing 100 Trillion dollars and Crypto at its absolute peak never cleared 1 trillion and is now less than a quarter trillion. From a non-butter perspective it would seem that the media LOVES to talk crypto because its much sexier than say, municipal bond yields. It gets clicks and eyeballs and thats all the media cares about.
/buttcoin: They think we're a powerful cabal bent on lol'ing butts into oblivion
Reality: They might be onto something with this one.
submitted by wyllydtron to Buttcoin [link] [comments]

Liquid CAD: Canadian dollar payments on the Liquid Sidechain

Hello fellow Canadian bitcoiners or bitcoinca! You will find below all the information related to the launch of Liquid CAD and Bull Bitcoin's Liquid Bitcoin integration. I'll be checking comments here to answer your questions! I'm also posting some comments on my announcement tweet here: https://twitter.com/francispouliot\_/status/1245758698120605697?s=20

Making the Canadian Dollar Bleed Into Bitcoin

Building the infrastructure for the Bitcoin Standard in Canada before the collapse of fiat currencies is the critical mission objective that drives innovation at Bull Bitcoin.
We are very excited to announce an important milestone in fulfilling this duty: the public release of Liquid CAD, our newest product designed to accelerate and facilitate the adoption of Bitcoin.
Liquid CAD is a non-custodial prepaid payment system denominated in Canadian dollars. Units of Liquid CAD (L-CAD) consist of vouchers issued on the Liquid Network as confidential bearer assets that can be transacted peer-to-peer using a Liquid wallet.
Users acquire Liquid CAD by withdrawing their account balance out of Bull Bitcoin, by purchasing Liquid CAD with Bitcoin on Bull Bitcoin, by using the Liquid CAD withdrawal method on other Bitcoin liquidity providers such as Aquanow or by accepting L-CAD as method of payment.
L-CAD assets can only be redeemed for Bitcoin. They cannot be redeemed for a fiat currency payment.
Liquid CAD is a unique project rethinking the concept of fiat-pegged assets, avoiding the banking business model of “fiatcoin” (aka stablecoins) in favor of a prepaid payments model entirely centred around Bitcoin on-ramp and off-ramp. Liquid CAD is not a currency, nor is it a security: it is a prepaid card.
Importantly, the business model of Liquid CAD is not to collect interest on funds in our custody, unlike fiatcoins, but rather to drive the sales of Bitcoin from which we derive our revenue and we benefit from Liquid CAD assets being cashed out and thus removed from our balance sheet. Bull Bitcoin does not get any revenue from interest.
Every time an L-CAD token is purchased by a user, the amount of dollars deposited on Bull Bitcoin is guaranteed to one day be used by someone to purchase Bitcoin. It’s a one-way street: once a unit of fiat is tokenized as L-CAD, it’s never going back to its off-chain fiat form and will ultimately result in a buy order on a Bitcoin trading platform.
The Liquid CAD logo is a drop of blood because our objective is to accelerate “fiat bleed”, a phenomenon best described by Pierre Rochard in his magnificent essay Speculative Attack:
“Bitcoin will not be eagerly adopted by the mainstream, it will be forced upon them. Forced, as in “compelled by economic reality”. People will be forced to pay with bitcoins, not because of ‘the technology’, but because no one will accept their worthless fiat for payments. Contrary to popular belief, good money drives out bad. This “driving out” has started as a small fiat bleed. It will rapidly escalate into Class IV hemorrhaging due to speculative attacks on weak fiat currencies. The end result will be hyperbitcoinization, i.e. “your money is no good here. Bitcoins are not just good money, they are the best money. The Bitcoin network has the best monetary policy and the best brand. We should therefore expect that bitcoins will drive out bad, weak currencies. My own prediction is that slow bleed has been accelerating and is only the first step. The second step will be speculative attacks that use bitcoins as a platform. The third and final step will be hyperbitcoinization.”
Different representations of Canadian dollars compete to be used as payment methods (cash, bank balances, PayPal balances, closed-loop prepaid cards, open-loop prepaid cards, etc.) and that the winner will be the one that has the best Bitcoin saleability, i.e. which can be most easily sold for Bitcoin at a moment’s notice.
We’re very proud to provide this alternative payment method to Canadians in a time where the banking system is falling deeper into crisis, especially as the Canadian dollar is demonstrating itself to be one of the most pointless and weakest currencies that nobody really wants to hold.
Finally, we’re very happy to be partnering with Aquanow, our recommended institutional liquidity provider for high-volume BTC-CAD trading. They will accept Liquid CAD deposits and withdrawals as being interchangeable with Canadian dollars. We hope that Liquid CAD will become the standard representation of Canadian dollar value among Canadian Bitcoin users.

Liquid Bitcoin (L-BTC) integration

In addition to Liquid CAD, Bull Bitcoin is also announcing that Liquid Bitcoin (L-BTC) payments are now supported interchangeably with Bitcoin transactions for all Bull Bitcoin services. This means that our users can buy, sell and spend L-BTC instead of BTC.
Canadian Bitcoin traders can purchase L-BTC from BullBitcoin.com and fund their international trading accounts with L-BTC using ultra fast and cheap confidential transactions. They can also cash-out their Bitcoin balance as L-BTC from these platforms and sell those L-BTC for fiat on Bylls.com, avoiding risky and expensive international wire transfers to unknown and untrusted foreign banks.
The transactional benefits of L-BTC are very potent:
Disclaimer: Liquid Bitcoin (L-BTC) is not the same as Bitcoin (BTC). L-BTC Liquid Network assets are IOUs for Bitcoin held in a multisignature contract by the Liquid Network federation. The custody of the underlying Bitcoin is managed by a decentralized network of 15 members which process transactions and withdrawals from the multisignature contract according to the Liquid Federation protocol rules.

Liquid CAD detailed overview

Peer-to-peer prepaid payments by Bull Bitcoin

Liquid CAD is a non-custodial prepaid payment system denominated in Canadian dollars. Units of Liquid CAD (L-CAD) consist of vouchers issued on the Liquid Network as confidential bearer assets that can be transacted peer-to-peer using a Liquid wallet. Users acquire Liquid CAD by withdrawing their account balance out of the Bull Bitcoin, by purchasing Liquid CAD with Bitcoin on Bull Bitcoin, by using the Liquid CAD withdrawal method on other Bitcoin liquidity providers such as Aquanow or by accepting L-CAD as method of payment.

A new payment method in Canada

Liquid CAD can be used by anyone to send and receive payments denominated in Canadian dollars. Because of the permissionless nature of the Liquid Network, Bull Bitcoin cannot prevent Liquid CAD from being traded on secondary markets. Merchants, individuals and institutions must accept that only Bull Bitcoin can guarantee redemption of the L-CAD and that this redemption will be exclusively paid out in Bitcoin. Accepting Liquid CAD as payment is, in effect, the same as accepting gift cards as payment. However, Bitcoin being the most liquid commodity on the market, it can be transformed into any other currency easily for example using services such a Bylls which allow Canadians to pay all their utility bills, send bank transfers to third parties or sell Bitcoin to their bank account.

Making Canadian dollars bleed into Bitcoin

The purpose of Liquid CAD is to facilitate the transfer fiat in the context of the purchase and sale of Bitcoin and providing innovative new services that help Bitcoin users hedge the value of Canadian dollars against Bitcoin in the context of their commercial transactions. Our goal is to create a payment method that is specifically targeting Bitcoin users that wish to liquidate Canadian dollar payments for Bitcoin. Our mission is to accelerate the phenomenon known as “fiat bleed” whereby Canadians will gradually abandon inferior money (such as the Canadian dollar) for the superior Bitcoin alternative. Every Liquid CAD issued will ultimately be exchanged into Bitcoin. We are excited for the day Liquid CAD will be made obsolete by the inevitable hyperbitcoinization of the Canadian economy.

Regulation: is Liquid CAD a stablecoin?

Liquid CAD is not a general-purpose “stablecoin”. It is a closed-loop Bitcoin prepaid card. It can exclusively be redeemed for Bitcoin on the Bull Bitcoin platform (or at affiliated merchants). Bull Bitcoin is the only counterparty, and it cannot be redeemed for a canadian dollar payment. It is substantively the same as Canadian Tire money. Unlike stablecoins, Bull Bitcoin makes money with L-CAD by driving the sales of Bitcoin on its platform, and doesn’t collect interest on the deposits of Liquid CAD users.
The purchase of Liquid CAD with Canadian dollars is regulated in the Province of Quebec as a prepaid card under the Consumer Protection Act and the Regulation respecting the application of the Consumer Protection Act Consumer Protection Act which define a prepaid card as “a certificate, card or other medium of exchange that is paid in advance and allows the consumer to acquire goods or services from one or more merchants”.
The purchase of Bitcoin using Liquid CAD is regulated in Canada by the Financial Transactions and Reports Analysis Centre of Canada under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (S.C. 2000, c. 17).

Counterparty risk

Like all other closed-loop prepaid instruments, Liquid CAD has counterparty risk. The owners are trusting that they will eventually be able to use Liquid CAD as a payment method on the Bull Bitcoin platform to fund their account and purchase Bitcoin. When a Bull Bitcoin user withdraws his Bull Bitcoin account balance as an L-CAD token, the Canadian dollars he used to fund this balance remains in our possession in the same manner as regular Bull Bitcoin vouchers. These funds are used to execute Bitcoin purchases when L-CAD owners decide to redeem their L-CAD for Bitcoin. In essence, each L-CAD is “backed” by the Canadian dollar deposit of the user that withdraws it from the platform in the first place.

Benefits of using and accepting Liquid CAD for payments

Irreversible, non-custodial and no bank required

Liquid CAD payments cannot be charged back, cancelled, delayed or frozen. There is no intermediary between the sender and the recipient. It is a bearer asset: whoever owns the keys owns the coins. It is a perfect way to accept payments or transact securely without depending on banks and payment processors. Canadians can use Liquid CAD to purchase Bitcoin and then use Bylls.com to pay billers, personal payees or simply sell Bitcoin to their bank account.

Fast transaction and cheap fees

Liquid Network transactions are sent and received instantly and require 1 minute for settlement. Transaction fees paid using Liquid Bitcoin can be as low as 300 satoshis per transaction (a few cents). In order to benefit from these cheap fees, make sure to download the latest version of the Elements software and ensure that the minimum transaction fee is set at 100 satoshis per kilobye. It only takes a few minutes to set up a free Liquid Network wallet, such a Green Wallet by blockstream.

Confidential transactions

Unlike Bitcoin, transactions between the sender and the recipient are encrypted. It is impossible for third parties observing Liquid CAD transactions on a block explorer to determine the amount of the transaction. In addition, it’s also impossible to even know you are using Liquid CAD, since the data identifying the asset itself is also encrypted!

What are the use-cases of Liquid CAD?

Buying and selling Bitcoin

The primary use-case of Liquid CAD is to make it easier to buy and sell Bitcoin on the Bull Bitcoin platform. By withdrawing their balance from Bull Bitcoin, users are reducing some (but not all) of the custody risk associated with keeping fiat currency on an exchange. For example, use Liquid CAD to create your own non-custodial dollar-cost-averaging schedule!

Onboarding new Bitcoin users

New users can be overwhelmed by the experience of dealing with banks to buy Bitcoin (and the heavier KYC process of account funding). You may be tempted to buy Bitcoin for them, but that will impose a lot of burdens on you. It’s much easier to set them up with a Green wallet, send them Liquid CAD and show them how to use Bull Bitcoin! They decide when is the right time for them to invest, with a lower KYC burden.

Hedging Bitcoin price

You may believe the price of Bitcoin will go down in the short term, but you still want to hold Bitcoin in the long term. Normally you have two options: short the Bitcoin price (very risky!) or sell your Bitcoin and receive Canadian dollars in your bank account (inconvenient!). By selling your Bitcoin for Liquid CAD, you can lock in the value of Bitcoin right now and buy them back later without needing to use your bank account or taking risks with leverage.

Accepting payments

As a merchant, you want to receive the settlement of payments in Bitcoin. But this imposes a burden on your customers, which have to deal with the Bitcoin price volatility when they are paying you. Ask your clients to pay you with Liquid CAD, and you can get the settlement with Bitcoin on your own terms.

Payroll and suppliers

What if your staff or suppliers want to get paid in Bitcoin? It can be very difficult, because this means you are effectively buying Bitcoin on their behalf. Instead, you can pay them in Liquid CAD and let them deal with the process of choosing the exchange rate and using their own wallet. Let them deal with the tax burden, exchange rates and Bitcoin wallet security.

List of Bull Bitcoin Liquid Network features

Withdraw account balance as L-CAD

This is conceptually the same as “buying” Liquid CAD with your account balance. We call it “Withdrawing L-CAD” because on the Bull Bitcoin platform, we consider L-CAD and CAD to be interchangeable and fungible.

Fund account balance with L-CAD

To redeem Liquid CAD for Bitcoin, users need to first fund their account by selecting the “Deposit L-CAD” payment method. Bull Bitcoin users must always fund their account first before buying Bitcoin, and then purchase Bitcoin with their account balances. Reminder: account balances cannot be withdraw as fiat payments, but can later be withdrawn again as L-CAD.

Sell Bitcoin for L-CAD

You can sell Bitcoin and receive Liquid CAD payments instead of a bill payment, personal payee payment or bank payment. As soon as the Bitcoin transaction is confirmed, the Liquid CAD transaction is sent to the address you provided.

Liquid Bitcoin (L-BTC) and Bitcoin interchangeability

For every service which involves a Bitcoin payment, the user can substitute traditional Bitcoin payments for Liquid Bitcoin payments. This includes:
***********************************
Original medium post: https://medium.com/@francispouliot/liquid-cad-canadian-dollar-payments-on-the-liquid-sidechain-f7e3309f8a5f
Official landing page: lcad.bullbitcoin.com
Application page: bullbitcoin.com/l-cad
submitted by FrancisPouliot to BitcoinCA [link] [comments]

This market is a cash cow.

It has been a decade since this market's inception and 3 years since I've started monitoring it closely and analyzing it. Whether you're new to crypto or a veteran that has been through multiple bubbles, chances are you don't really know what's going on. Despite surviving the worst bear market so far, we're hovering at a $300B total market cap. So how come crypto journalism is so bad it sticks out even when compared to modern journalism? The answer is that the lack of available foresight and unbiased analyses is very much on purpose.
Litecoin, Bitcoin Cash, Bitcoin SV and other clones (and almost everything else, but clones aren't as nebulous) really give you a great window on the insanity of this market. Everyone who tries to attach any kind of metrics to these projects or make realistic predictions regarding adoption and 'fair value' is prompted with a question: "Who in their right mind could think this is worth 5+ billions?" Since it's essentially impossible to reconcile market valuation and fundamentals, they assume that there's something they're not getting, that there's crucial information they lack, so they resume business as usual. There has to be a reason, right? The truth is that crypto as a whole is a rare and insanely profitable cocktail. The market is split almost perfectly in two (by perfectly, I don't mean a 50/50 split, I mean that these two sides represent almost 100% of the market):
The amount of people who perform thorough, unbiased research and invest carefully is staggeringly low, simply because there are very few individuals with the resources required to sift through the bullshit and without any intention to exploit the market. Coupled with extremely low real liquidity (arbitrage and market makers shouldn't really be considered), this results in a nonsensical market of booms & busts that benefits manipulators every time. However, none of this would be possible if it weren't for a key ingredient: Bitcoin. As long as Bitcoin and any of its clones gravitate towards the top, you can be sure that the market conditions haven't changed, because they act as indicators. Our top meme is a perfect testament to that: "HODL" is based on the bizarre and baseless assumption that the past will repeat ad vitam, and it does a great job keeping liquidity low. In short, it's a perfect gauge of the community's overall idiocy.
Mainstream media only exacerbates the issue. It's much less costly (and thus, more profitable) for it to invite supporters or critics of Bitcoin to push a certain agenda than it is to pay competent journalists or experts to provide a detailed explanation of smart contracts and the rise of a programmable economy, for example. Yet I can tell you that in most professional circles, nobody talks about Bitcoin. Manufacturers don't care about receiving payments in Bitcoin, they care about data integrity and security. Energy consortia aren't interested in having households pay their bills with Litecoin, they care about autonomous, self-balancing, self-monitoring grids that optimize electricity distribution and pricing.
There are several projects that have a much better chance to overcome the hurdles of adoption, yet it's unlikely you'll find them in the top 10 positions, because they're neither sexy nor simple. Why would manipulators waste time, money and effort inflating those projects' value, when they know full well that they'll appreciate on their own in due time? It's much easier to extract as much money as possible from morons who are willing to 'invest' in worthless junk and let the rest depreciate dramatically to secure a lower entry point. Even as the technology progresses and real innovations are made public, tribalism and hit pieces take care of the rest.
TL;DR: Current prices are not indicative of future success. If you've performed the research and come to the conclusion that an asset is undervalued, believe in yourself. This market is not your friend, it exists only to take your money.
submitted by bLbGoldeN to CryptoCurrency [link] [comments]

From the same cryptocurrency that brought you "why hasn't bitcoin reached mass adoption in Argentina?", here's the newest hit: "why hasn't bitcoin reached mass adoption in Venezuela?"

https://www.reddit.com/Bitcoin/comments/e80ss2/why_has_bitcoin_failed_to_become_the_1_currency/
the competition doesn't get any easier guys. The Bolivar is the easiest currency in the world to beat. Why hasn't Bitcoin or any other currency become #1 in Venezuela?
[...]
Great question.
[...]
That's a vicious circle that keeps the Bolivar going. A transition marketing campaign of people switching 1% of their monthly income to Bitcoin is an idea of something to do
[...]
someone or some group in the first world gives away a bunch of bitcoin but it tips the first domino.
Like if we could figure out the daily cash needs of Venezuelans to buy groceries and necessities and collectively donate that amount to a distributed army of trustworthy agents, it could theoretically be done.
And of course there's always the one guy who's just gotta be condescending.
Because most people don't trust anything they don't understand. Which in case of bitcoin is maths in the first place.
Bitcoiners are shocked, shocked, SHOCKED that even people with hyperinflating currencies are not at all interested in their internet funbucks.
Rather than taking this as a clue that bitcoin is worthless and has no future, they instead draw the conclusion that this is a problem with the Venezuelans, not bitcoin. Clearly Venezuelans are either stupid or completely uneducated about bitcoin, their savior.
At the rate that bitcoiners self-own lately, it's almost not even worth mocking them anymore. Almost.
submitted by witcoins to Buttcoin [link] [comments]

The end of CAPITALISM - MUST READ ALL|MUST SHARE FAR AND WIDE. BE PATIENT

Hello everyone! This is my New World Model.
The model is sharing and understanding.
Bit of background:-
Throughout my life I have suffered with Mental Health problems, depression, suicidal thoughts and anxiety. I have battled out of that now and I am extremely passionate to share my story of discovery in order to help everyone else that is suffering around the world.
During this mad COVID-19 lockdown a lot of people are slipping into a very dark place. A place of poverty and desperation. And it is out of the people's control. I have had an idea to regain control.
These thoughts and ideas started coming into my head about why we are suffering and I felt I HAD to write them down. Just to clarify I have been progressively getting these thoughts as my mental health declined. Am I losing it? Or is that just poor attitude and wrongly implemented judgement that came to that conclusion?
It is a long read but please finish it and share it as quickly as possible. Thank you. Oh yeah and don't judge as these are my RAW thoughts in text form based upon what has been happening throughout history- NOT any finalized set-in-stone idea. I just want to open the discussion up. People will say it can never work. It can if we do it properly. We already know our current system is not working so what's the risk?
*DRAFT no. 1*
Indiscriminate resource sharing world-wide.
Helping others is the priority for everyone not making imaginary monetary profit.
People's individual or collective time and energy as currency. An aeroplane needs to get build. We as a species of capable animals allow the team of people to build the aeroplane for us to travel whilst supplying childcare, food and water for free of course. We the people have the ability to solve world wide problems. We just need world wide solutions in order to do so. Abolishment of these false currencies we created which encourages greed exploitation and ignorance to the famine and struggle going on worldwide. This is the first step we MUST take if we want to survive as a species in my opinion. Yes we could colonize the milky way but if we take money with us as an idea ultimately we'll destroy every planet we step foot on through industrialisation and pollution. Until the last planet wipes us out with a fancy new mars virus😂👀
Give people comfort and they will thrive. Give them money and they turn bad. Their priorities and intentions get reversed and the compassion of mankind dies as people are scared to let go of their imaginary money. The priority for everyone becomes greed. Hoarding money as a reserve so that only YOU can live comfortably. At the expense of every starving person world wide.
When a man has no food, water or shelter worries he can properly focus on what actually matters. Helping others by sharing resources with neighbour's in need or giving up your time here to build a hut for someone who is homeless and without a hut. Not because you will gain physical items as a reward but because you will get a spiritual reward. Happiness, empathy, compassion and gratitude. The real rewards in this life not some backwards idea about an imaginary piece of paper that everyone is chasing yet no one is happy to be doing so.
We didn't get so far by inventing monetary incentives for people. The incentives were already there. Love thy neighbour. That's the model that worked. The only sustainable one.
"Give us the teachings of his majesty, for we don't want no devil philosophy" - Bob Marley. in the form of offerings. What you had to offer to your neighbour and vice versa. And that's the model we need to return to -to progress positively. I think this is what most religions are about. The kind people who wrote religious texts soon realised that people will be born that will stray from the ideas of religious books and this brought much death and destruction to the innocent people. To protect the innocent - religion alone would not be enough so they decided that the only way to righteousness for the heathen was to leave this world and come back as another being in order to learn the proper way to live from the teachings of his kind father in order to lead a proper life as it was intended.
I think this may be where human sacrifice came from. The people who did not choose to follow the truth in the forms of religious text were sacrificed to the 'gods' or creators of life as the ancient societies battled to contain the human-caused destruction of the land and animals.
However in doing so we became the greedy murderous people we strived to avoid for centuries.
This is not the correct model we should have been living by. That is the model of tyranny. Forcing people to believe the light exists instead of showing them the light. Light=kindness
Forgiveness and resource sharing is the only sustainable model I can think of.
Your dog loves you because you give him what he needs to be able to live as a dog. Jesus tried to give the people what they need to thrive as men and was crucified for it.
Jesus was not reincarnated. But another man with the same ideas was born from this earth. With the same message of unity. Did Jesus come back from the dead or just the idea behind Jesus's teachings? Maybe they had a similar appearance. Maybe they even had the same name.
But they were not the same "person" as they were born of different mothers.
The idea of unity was the thing that was really resurrected, not a man.
If the true nature of this earth is such that good men are born and so are bad men then we need acknowledge it and accept it and try to show people the reasons behind WHY they should behave a certain way. Never should be for personal gain.
If there were two men born into the world and two plates of food. What right does one man have to the food? He has every right to it. But when he chooses to take the food and his companion dies of starvation. Only then will he realise just how dark and lonely the world is without using HIS OWN compassion.
I will not force you to believe and follow what I am saying. But I will leave you to figure it out for yourself. Whether that's tomorrow or in 10,000 years. Whenever we all start owning our mistakes we have been making as a species and not prosecuting for mistakes made but showing people why their wrong and letting them decide for themselves.
Whether Bob Marley died as nature intended or was killed by powerful men in order to prevent a mass awakening of spirituality is another debate.
This is what the bible was made for.
This is Jesus's message
It is only that way because we are afraid of leaving this world. Afraid of death. Death isn't the enemy. Its the reason we all are here in the first place. The whole world political system is based on fear of death. We need to rid of this to prosper as a species.s made but showing people why their wrong and letting them decide for themselves.
The big question to you is. What are YOU going to do?
World leaders have assassinated people that are a threat to their country's economy and their stash of imaginary money. This has gone on for centuries.
The above model does not pose a threat to the inferior monetary system but replaces it entirely. In return we all get happiness and gratitude. There still may be resource issues. But we will overcome them as a collective righteous world society. The old will starve to death in order for the young to grow and prosper. They should be allowed to Switzerland themselves off this planet to free up resources for their children. This should not be illegal when it is necessary. When one cant survive without stealing the resources from the younger generation. At the moment it is the other way around. The greedy old generation of yesteryear is taking from the young, and it is destroying us all.
It is only that way because we are afraid of leaving this world. Afraid of death. Death isn't the enemy. Its the reason we all are here in the first place. The whole world political system is based on fear of death. We need to rid of this to prosper as a species.
Do not post until humanity is really threatened. Otherwise the people in power will ignore. Ignorance is bliss after all.
Ignorance from spirituality is the opposite of bliss. Fear, anxiety, depression, misused aggression.
We misunderstood religion. Misunderstood religious sacrificial killings of humans and animals. Because of that there has been worldwide spread of spiritual devaluation.
They were sacrificing to protect their own children. They did not want to kill the snake. But the snake was biting the children so was killed by the villagers to protect the young. The snake still has every right to keep it's young safe. That's why he bites the human. The human has the right to keep his young safe, that's why he kills the snake, lion, man. And that is why war is happening. People's inert desire to care for their young means they are willing to die in war for their young to prosper. We shouldn't be at war with ourselves, but with nature.
When the storms come we round up and shield each other. When the hungry lion comes we acknowledge he needs to feed his family and before feeding the lion we must seek to protect human beings first. Animal sacrifice was just animal population control. As the will to live is strong for the Lion he will look to take food off the man. But he will only do that when man stops offering him the food in return for NOTHING. When this happens the lion kills out of starvation and the will to live. You see we are taking food off eachother, taking our resources off one another simply because of our will to live and to allow our young to prosper. In the process we are causing other humans to suffer.
To mitigate this as much as possible we need to suppress the idea of greed and selfishness and only act in kindness to our self and then our young. No one else. Once this is accomplished by all there will be true world peace. Warfare will cease to exist and people will be willing to share time energy and resources for the good of humankind. Not animalkind. We can make a start on animals once we have sorted ourselves out first! But we can't start at animal or we will forget ourselves. Warfare will cease to exist anymore and we will be truly free to prosper. Warfare whether nuclear or biological is used by the richest in order to hoard resources for their future young to prosper.
The common man has no need for war.
Only the wealthy.
We need to use food oil coal electricity gas whatever as currency because that is fundamentally what the citizens need. Not paper from a tree.
This is what will happen everywhere eventually. No matter how long it takes.
So from now on I pledge to do what's right by me, then my family, then my children (if i have any) and then the rest of my human brothers and sisters. Not for anyone else but because this is how i have decided to start living my life. From doing so I will prosper just like Karma said I would. You can prosper too, and so can your children and your children's children. But only when we change can we prosper onwards.
The break from the system we are currently experiencing in the form of Coronavirus COVID-19 is equal to the 40 days and 40 nights story. Jesus breaks away from the societal system and fasts or whatever. Which allows him to reconnect and rediscover what is really important to the human life. I think that's religion basically.hat is dictatorship.
That is the wrong model.
The model was designed and enforced by certain powerful groups out of fear and desperation for the people. They wanted to save the people from themselves. They just didn't see what it would evolve into. How their seemingly wise ancient sacrificial system could change the world for the worse.
Well now we do. We see the war. We see the starvation. We see the destruction caused by the failings of the system and yet here we all are with food stock in our fridge. Pretending to be blissfully ignorant while out there somewhere, someone is suffering because of the very system we are enforcing on the people of earth.
World leaders- its time to wake up and change the system.
Design your policies on the good they can do. Not the fake paper money that can be gained from the policies that you enforce. Oppression has served its purpose. We got the technology and knowledge to help everyone. Lets start doing it now. Because this type of solution is coming eventually. As it is the only sustainable one.
Obviously i don't agree with everything in religion because i think that it was added to by others and over time became the system that enslaved not served.uage in order to communicate this message. His ancestors used pictures on rocks in the form of hieroglyphs. important to the human life. I think thats religion basically.
Jesus wasn't teaching his own teachings but he was trying to get man to recognize the failings in the societal model being followed. He used the human language in order to communicate this message. His ancestors used pictures on rocks in the form of hieroglyphs. important to the human life. I think that's religion basically.
They are not Jesus's teachings but everyone's.
Obviously I don't agree with everything in religion because i think that it was added to by others and over time became the system that enslaved not served.
Just like western capitalism.
The ancient humans made the same mistake and bludgeoned eachother to death with sticks for food thinking every man would do the same.
This is what we must teach our children.
Dont be the ancient murderer. Dont let the system abolish your true values.
Dont be the ancient homonid murderer's and slave masters.
Dont be the adolf Hitlers.
Dont be the Winston churchills.
But be the marley, be the ghandi, preach your message of peace and kindness.
Because if you dont us humans will go extinct due to our own greed and the next species to evolve on this planet over the next million years will take our place. We could well be molten lava at the centre of the earth by this point. The replacement beings that have evolved for millions of years at the top of the food chain wont mind. They wont miss us.
They wont mourn us.
They wont care about us.
But they will learn from us to become the men that we should have been.
We have had chances to change already.
Maybe the virus is here to humble us enough to do so. Maybe not. Whether man created it or nature, it will humble us one by one.
The purpose of life is to pass information onto others, and we have been passing down the wrong information if we want our species to survive.
If your dog bites we teach him there is no need to bite for he has everything he needs to live right here at home. If a human "bites" we judge upon them and lock them in a jail hell as punishment. In order to create a kind compassionate human society worldwide we must stop locking people away and we must work with them to understand their problems and help them overcome. Once the oppression has been majorly negated worldwide for a few generations only then will we thrive as a species of love and peace, without mass famine, without war, without starvation, without drought.
That will be the dogs home we create for ourselves to live in peace.
When we dont have any problems we will look to create them in our own minds. If we compare with others we will feel we dont have enough. We must not compare. Instead we must voice why we require more. If there is sufficient reaources and your reasons are justifiably kind then you can have it. If not then stop asking and start pissing with the cock you got otherwise you are causing suffering world wide by taking more than is required. We must recognize this as an animalistic bodily reaction akin to jealousy. Taking due to jealousy will lead us back down that same path we've been on for all time.
No one person is oppressing another. It's the system of oppression that needs to change.
The only reason we all follow the current system is because someone else is dealing with the bigger issues caused by the system. We need to stop taking this blind-eye attitude to our system
Money should be persecuted for causing us to willingly commit crimes against humanity.
It should be destroyed or used wisely for now by different means such as bitcoin as it is a finite amount and cannot be inflated. Not the current model of greed. Inflating the currency so much that it's worthless to the small man who has pennies and is still heavily taxed by the government and therefore it encourages the small humble family man to seek more and more and more to become a rich person like his celebrity idol, friend, boss etc all the while turning a blind eye to all the suffering they're causing along the way. Be yourself not what your idols are. What I mean by that is drop all opinion that you do not hold to be true and treat people how you would treat yourself. With 100% respect, patience and understanding.
If you cannot see something from someone else's perspective then you are lying to yourself or you are closed minded and are for some reason unable to imagine being the other person and then imagining how they would feel in any given scenario and then going from there with how you choose to treat them - based upon what would help you through a big mess and see what you were doing wrong and what you could do to put it right. This is the level of respect and empathy we should take and give and show our children too.
That may help humanity out of this mess.
Does 'matter' create us or do we create matter.
Do the subatomic particles of our body make us conscious or is it our souls. If its your soul then who created your soul. If you say no one it was biology and nature then who created nature. If you say no one it just exists as a force because something big imploded then how does creation exist in the first place you say no one knows be quiet.
If you say our subatomic particles make us conscious because rocks from space imploded. Imploded from what? Why? Every event must be linked to one creator of all events ever. What is that creator of events that lead to the creation of earth's life including your own birth and even this very thought. You say no one knows be quiet.
If you say aliens from another planet introduced their intelligence genome to monkeys in order to take over the planet as their resources are slim on theirs then who created intelligence. If we became what we refer to as "aliens" and were successfully able to fully colonize mars and then our galaxy and even the whole universe as we multiply exponentially on every planet in the expanding universe we have terra formed will we eventually catch up with the expansion of time? Enabling us to travel back to the beginning of life+time's creation. Thus finding our answer to whatever created this rocky abyss we're a part of and who knows maybe we'll even find out why and whats next to discover.
Time and life are what made us. Time started for whatever reason and created the universe. The universe created life. And we are here trying to discover what created time. Maybe once we do everything will make more sense. Maybe that's black holing it straight into somewhere equally as crazy. The question is does time and life make it through the black hole to the other side of the multiverse where time begins again. If so how many of these are there until we reach the finale, if theres only one universe or we're down to the final multiverse then what? We break the multiverse by simply living in it until we destroy it and it destroys life with it. Well what happens then. Where did all the matter and life disappear to? Heaven forever to exist as pure bliss? I dont know. You could say it doesn't exist anymore and thats it. Ok but somehow there was nothing and we appeared so there must be something. The life force of all creation within us and time is the only thing that may truly exist. And when it gets bored it kicks off and kickstarts the events all over again.
Therefore if aliens visit a planet it will be to include their DNA type and irradicate the existing one. Thus introducing alien dna into the beings to make us conscious beings enjoying new forms of nature every time around. Sometimes with a horsehead sometimes with an Egyptian cat. As a sort of fungus that grows to replace us. Maybe that fungus is what we consider evil to be. Anything that changes us for the "bad" (by our life model) might be for a bigger reason. Maybe we need to find out the root cause of our existence or maybe we just need to shut up and enjoy living. But either way is terrifying for us to comprehend. But it might be undeniable truth that we cant see that is keeping us in this hell and from moving forward on this vibrant earth in the best way.
Nature is the only dictator and we are the ones who choose whether to go by natures rules or not.
The current model is one where currency is printed on paper or plastic until it causes so much destruction it has to be replaced with the same thing repackaged as a better idea aka digital currencies. This will sustain us for a while until it eventually does the same thing. The only way forward for us all to be free from suffering is to allow people to be who they are as long as they cause no harm to other humans and when they feel ready they can venture out of comfort and boredom and bring forth their ideas of contribution and improvement and start putting them into practice.
I think the slow change we're all going through will lead us there. If most of the people on earth suddenly died then people would form a group to help eachother survive. That would grow into another new society. Will they create gold coins and start exploiting people for the gold instead of allowing everyone to live happily and comfortably? Probably yes. Will they end up in the same position we are in now of division and monetary competition which causes the death of the poorest every day? Probably. Or will they decide to keep helping eachother and keep sharing and teach their children to do the same all the way up to world population. What would that sharing world look like. And can we achieve it.
Why haven't we already done this you ask? Surely if it was that obvious and feasible then everyone would be doing this already.
The answer is we were. But as we evolved and grew in population we started to change our behaviour as a species. This was due to the people being forced against their will to work for the masters. Whether that was by slavery or with monetary bribes or both.
Maybe we can undo the damage and return to our roots of kindness to all people?
We need to prohibit money as thats making our lives miserable.
Prohibit the idea of selfishness and exploitation all the way down to allowing your parent to die because theres not enough food left for the developing child nextdoor. Who knows then maybe that child will grow up and discover a way to feed his elders that for some reason the elders and top adults were unable to see.
Thats the way I look at the world. In order to correct the problems that plagued my elders. Thats what we should be using the young generation for. Not schooling them up to be able to earn money for the rich elders who do nothing but hoard it for their young all the while allowing others to suffer because of it. I believe it all started with greed and selfishness and our individual will to live. However we have developed language now. We have the advantage of being able to communicate our intentions and wants/needs to others. Why arent we using that language to negotiate our behaviour towards eachother for the benefit of all. Why are we only using our language for personal gain.
We learn to speak in school then learn to write then we learn how to use it in a negative destructive way and we all do it because we were taught by our elders to basically fight for money until you're comfortable and then forget about the rest of society. All under the guise of 'money is necessary for every one's survival and progression'. It's not necessary at all. It used to be. But we are advanced enough to do away with money and greed now. Why aren't we doing it?
Because the people at the top haven't said so... YET.
A - nothing lyrics refers to we've got nothing without helping one another.
We aint got nothing if we've got money except a bank full of exploitation greed and selfishness.
All country leaders need to agree simultaneously to abolish money and make resources free for everyone simultaneously and freeze the use of all money. Everyone still has to go to work as people need to be fed homed electricity and gas. And we need to keep these services running in the world. Money becomes useless and everyone gets everything they need to live. Eventually they should look to prosper out of comfort and bring forth their societal improvement ideas for implementation.
This means no laws. No drugs are illegal. Nothing is illegal because if it is then there will be people who will use that to exploit others = criminals. Criminals will then hoard things to exploit others as they'll convince themselves that them and their family are more worthy than others. So we only trade with perishable items so that they cannot be hoarded and siphoned from others by the greedy.
Biodegradable money? Or just actually stick to our promise of helping others THEN inventing things to improve the species.
Like wikipedia where anyone can contribute to putting factual information on there.
We need to realise that anyone can contribute to the progression model mentioned above and as long as it's followed properly we'll be on our way to world peace and happiness for all.
As long as we debate what is needed with passion for the human rights of the people we will prosper.
We need to realise our true purpose as a species and that is to protect and serve. Eachother.
We got lost somewhere along the way, but we can correct our problems. But only we can. And only when we stand up and have the guts to do so.
Unless we want to continue on fighting with eachother which is preventing us from leaving the planet to colonize. We will go extinct on this great fireball through natural weather disasters and plagues. Wiping out the human species altogether.
Unless we change our course as a collective species to allow us to get off this planet and populate another to ensure our survival.
When we do that is another question only world leaders can answer.
So i ask you, the leader of your countrymen, are you in?
If so then all the poweful leaders all the world must unite. Starting with the most powerful.
Just like what happened when the FEDERAL RESERVE BANK idea was created.
My ideas can be expanded by richer men who have the means to do so. In order for the growth of our species.
We must allow people to live in order to grow. And to live is to have the possibility to do anything without persecution and condemnation legal or otherwise. That includes killing another man and helping a woman delivering a child. That is our right its up to us to choose not to use the bad parts. Can we all learn not to?
Thats what the 10 commandments are no? We ingored that then and have been suffering ever since. Lets not ignore it this time. Lets end human suffering for all. We can only accomplish this if we all succeed in passing down the morality to our children. This is what i would teach my child and i think everyone would do the same if it meant no human suffering.
My dog doesn't need to hunt another in order to survive. I have given him everything he needs so he can live a happy and peaceful life. If he gets agitated I initiate play time and exercise.
He then comes back down to peace and relaxation. This is sport. We should all be doing sports as a form of exercise not to get a more appealing appearance but to rid ourselves of the [continued...]
submitted by HiddenHero999 to u/HiddenHero999 [link] [comments]

How to Explain the scarcity opportunity in Bitcoin: "Runescape Holiday drops"

Hi all,
A lot of people struggle to explain the scarcity element of Bitcoin and why this has value to your buddies or to the so called No (or Pre) Coiners. I think a very easy way for people to understand is by relating to an old version of the MMORPG Runescape 2007scape, the classic and 2007 editions. As many people of my generation have played this game it can be an easy bridge for the ones that still remember it to Bitcoin. Anyone that played this game will remember so called “Holiday drops” as in the first few years the game existed Jagex (owner of the game) dropped random items such as Christmas crackers, Party hats, Easter eggs, Halloween masks and Santa hats. If you are struggling to explain to No (pre) coiners why Bitcoin has value, simply ask them if they (or perhaps their kids) have played Runescape and if the answer is "Yes" ask them about the value of one of those holiday drops. They will for sure recognize it and you could tell them the scarcity of Bitcoin is very similar in real life (with its hard cap supply at 21m BTC) to that of those drops within the game.
Some background:
In Runescape you had a really simple economic system. Players could collect in game money and items by killing creatures and collecting quests, within the game people could trade with each other basically exchanging goods for coins or for other goods (like in the real world). However, within the game there was high inflation because both coins (Runescape money) and (valuable) items where randomly dropped by dying creatures, so as a result there was a constant new supply of all of those items within the game making the items and money less scarce continuously diluting their value. The longer the game existed the more the monetary system within the game evolved and the more detailed the pricing between all the various in game products became. Most of the pricing was based on how useful the product was (according to the product stats) and the rarity of the product (determined by the drop rate and how difficult it was to kill the creatures that dropped the product). The only products in the game however that were not on a regular basis dropped by creatures were those Holiday drops. These items were randomly dropped once by Jagex and as a result over the years became rare items. Despite the fact that these items were completely useless, they became the most valuable items within the game as they were the only items with no new supply and therefore the most hard asset within the game.
Anyone that ever played the old version of Runescape back in time will know what happened to the value of those holiday drops and as a result, will understand the concept of scarcity and store of value.
For example look at “partyhats” (see explanation in the below pictures), In the 10 years that I played the game (2001-2011) the value of these useless things increased from nothing to over 2 billion Runescape money, just because its scarcity (it was dropped in 2001 and never newly created thereafter), similar for the other above mentioned one time holiday drops. Actually the most valuable item became the un-popped Christmas cracker what produced the party hats. A completely useless item except as store of value, all you could do with it was keep it in the bank or trade it to someone else, you could not even wear it or show off your wealth as you could with the other items. Another similarity between those items and Bitcoin was the impact of Decay; Both for Bitcoin and these holiday drops, the total number is/was decaying over time as for Bitcoin there are people that store there private keys which might get lost and for these holiday items in Runescape people who owned them either quit or had their accounts banned over time diluting the total remaining number in existence.
I think for anyone that every played this game this can convince them of Bitcoins scarcity and very easily explain why bitcoin has a decent chance to be worth much more in the future (millions and millions of people from my generation have played this game). Bitcoin Bitcoin, is the only form of commodity/money that has a hard cap supply and therefore will become the most scarce store of value in history of humanity. As a result, there is a significant probability that Bitcoin, especially once coming closer to the maximum number of coins mined (already at 18m/21m), will show similar price movements as to how the holiday drops prices within Runescape have moved over the years.
Party hats explained:
"Partyhats are obtained by opening Christmas crackers, dropped during the 2001 Christmas event. There are six different coloured partyhats, all with the same shape and size (red, yellow, green, blue, purple, and white). When worn by a player they resemble a crown. Because they are discontinued, they are very rare, much sought after and worth billions of coins, although they don't offer any stat bonuses. These are currently the most valuable objects in RuneScape. Partyhats are used to hold large sums of cash, because the gold coin limit is 2.147B and these hats are gaining wealth over time. Due to their rarity, these items hold a much higher Street value than their value on the Grand Exchange. In Runescape Classic, the price of partyhats was drastically changed after players abused a glitch by creating many partyhats (see Partyhat duplication glitch for more info.) Due to their high price, they have become recognised as a symbol of wealth in the game by players and non-player characters alike.
Over time, the volume of partyhats has been diminishing. The much smaller number of players when partyhats were released meant that not as many were acquired when available. Also, at the time of the release, partyhats were virtually worthless, meaning many players discarded them immediately. The majority of the few players who held onto them eventually quit RuneScape or were banned, leaving the number of active players with partyhats at a very, very low number.
Surprisingly, partyhats do play a pivotal role in the RuneScape economy. Players will use these items as investments, cash placements, staked items, and collectables. They are used as cash holders for players because of the stability of the item. Majority of partyhats are traded in world 2 around the grand exchange, but collectibles players wishing to buy or sell a partyhat may either have to advertise on the RuneScape forums, leave it in the Grand Exchange, or trade at much lowehigher prices to accommodate the few players that are willing to trade partyhats."

Hope This helped some of you guys explaining Bitcoins scarcity element to your buddies.
~Benjamin
submitted by Benjania to 2007scape [link] [comments]

Building Ergo: Storage rent

We’ve designed Ergo with long-term economic sustainability in mind, and storage rent is one of the ways we’re ensuring miners stay profitable well into the future. One community member, Robert, describes this function as ‘on-chain garbage collection’ that reduces the problem of blockchain bloat – and even makes it profitable.
The 2020 block reward reduction will probably be the most important halving Bitcoin ever experiences. This is the point where the narrative of programmatic scarcity and digital gold will truly be proven, in the context of the sharpest economic downturn in living memory. In previous halvings, Bitcoin has still been in its infancy, a niche experiment. Future halvings will confirm the principle. But this one is the watershed.
Looking ahead, though, what happens in 20 or 30 years, when block rewards have fallen so far that miners have to rely on tx fees and potentially other sources of revenue? Will Bitcoin be sustainable? What will be the impact on the ecosystem?
The simple answer is that we don’t know.
Mining rewards are a key feature in maintaining the security of proof-of-work blockchains like Bitcoin and Ergo. And so, while we have deliberately kept many of Bitcoin’s tried and tested features, we have updated this one to give miners a boost when block rewards have fallen to zero.
Lost coins
Digital scarcity is an important feature of Ergo. Like Bitcoin, ERG are designed to be a finite resource and long-term store of value. We do not agree with the principle of infinite inflation.
And yet, this has to be balanced against the needs to pay miners to secure the blockchain and process transactions. Without adequate compensation for miners, there is no viable blockchain at all. Ergo approaches this by slowly recycling lost coins, in a feature we call ‘Storage rent’.
Studies suggest that as many as 4 million BTC may have been lost forever. These are coins that were mined in the early days of Bitcoin and stored on hard drives that were subsequently thrown away or destroyed because the owners forgot about them or thought they were worthless, as well as coins in addresses for which the private keys have been lost. (And, of course, there’s Satoshi’s estimated holdings of 1 million BTC, which may never move.)
Where coins have genuinely been permanently taken out of circulation in this way, it makes sense to have a mechanism to recover them and put them back into the blockchain economy. That way, we can preserve digital scarcity without unnecessarily accelerating it. In other words, by attempting to stick to the intended algorithmic supply for any given point in time.
Ergo’s halving schedule is faster than Bitcoin’s. Block rewards start at 75 ERG, and decrease steadily after the first two years. There is no ‘long tail’ of emission, and after eight years block rewards will fall to zero. After that, total supply will be fixed. The number of ERG in existence will never be more than 97,739,925.
Storage fees
From that point, however, miners will need further incentives to secure the network. Miners have ongoing costs in terms of bandwidth and storage, and in cases where coins are simply left for years, there is typically no charge for reflecting the value of securing them. The tx fee that is paid up-front in Bitcoin is the only charge ever made for storing those coins.
In Ergo, in addition to transaction fees, miners will also be able to collect storage rent fees on UTXOs that have not been moved for four years or more.
Fees will be deducted slowly, over time – the unmoved UTXOs will not simply be appropriated by miners. Anyone who wants to avoid this simply needs to move their balances once every four years, which is not an onerous requirement for helping incentivise miners and avoiding the deflationary consequences of lost coins. You can read more about how fees will be levied in this paper.
In this way, Ergo seeks to ensure a balance between maintaining digital scarcity, on the one hand, and giving miners long-term incentives to secure the blockchain, on the other – long past the point where new coins have ceased to be released.
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Do Not Sell !!

I realize people left and right are getting excited about the price going vertical and I get it, however this is not the time to sell. Even if we dip back into that 11K range or sky rocket past 20K. Let me start of by saying I have traded in the stock market for 30 years and been in crypto since bitcoin was under a $1.00. I bought a bag of weed for 136 bitcoins ...

The main reason is Fiat is worthless. America is 22 trillion in debt. Just let that sink in for a moment. 22 fucking trillion dollars. How are they going to get out of that debt which is one of 2 ways. A default on the debt or print so much money it's worthless (trust me they are going to print it into obscurity). I keep seeing posts about 2-3% inflation over the last decade and this is so wrong due to what they classify what goes into inflation. It's really 6-7% and all you have to do is check your water bill, energy bill, housing, and or groceries.

Next we have what I call the other big three of the Euro, Yaun and Yen. Japan is 13 trillion in debt and 200% over GDP with a aging population. The Yuan is the strongest of the group, however how much is tied up in failed government backed housing, subsidies, banking on and on. Also if the dollar keeps printing then the yuan is going down big time with it. Lastly is the Euro with failed countries like Greece, Italy, and Spain. Actually the shinning beacon of the Euro is Germany who might opt out completely. In the next 5-10 years we might have multiple fiat currencies fail and if they do you want to be in crypto, real estate and or precious metals.

This is another start of a Bull run.. This rally is not being done by retail and instead this is institutions coming in and millionaire/billionaire crowd with deep pockets. Over the last 2 years this has really changed from retail crowd only to everyone wants 5-10% of their portfolio into crypto to spread out. The huge buy orders are institutions and smart money allocating a small percentage of their portfolio over different investment landscapes. This money is just going to increase HEAVY over the next few months. After the bigger guys are in you will start seeing the retail people chasing again on the FOMO.

Then lets talk about the scarcity of bitcoin. There is not 17,781,000 bitcoins available. Millions have been lost due to wrong passwords, failed hard drives, darknet websites, and even mining fees that were not collected properly. Over the last 30 months when we had the rise from 600 to 20K we have only seen 6.2 million bitcoins in wallets that have been active over that time frame. The real amount of bitcoins that can be accessed I believe to be more in the lines of 10-11 million. I really would not doubt 6-7 million bitcoins are completely lost for ever. Look at the Satoshi 750K that has never moved ( I am convinced it is the deceased Hal Finney)


This rally is completely different from the ones in the past. I can't put my finger on it, but it's different. In another post people are not talking about it like 2017 ( family members / coworkers asking me questions ect) All in all why trade a scare bitcoin for some fiat that is worthless.

Upvote if you agree


If you don't believe me check out other posts
https://www.reddit.com/Bitcoin/comments/6zshlu/time_to_buy/
Dip in late July 2016 post is on Bitcointalk
Dip from 1150 to 775 in January off the China bans bitcoin https://www.reddit.com/Bitcoin/comments/5ncue0/perfect_time_to_buy_bitcoin/
Dip from 1300 to 950 off the ETF https://www.reddit.com/Bitcoin/comments/5ycmci/about_time_to_buy_more/
Dip 2100 to 1700 https://www.reddit.com/Bitcoin/comments/6avtaq/sell_at_all_costs/
Dip from 2900 to 1800 https://www.reddit.com/Bitcoin/comments/6dj5kf/for_all_the_people_getting_burned_right_now_let/
Dip from 4400 to 3600 https://www.reddit.com/Bitcoin/comments/6v8z7q/sell_now_the_end_is_nea
submitted by ridenourt to Bitcoin [link] [comments]

Building Ergo: Storage rent

We’ve designed Ergo with long-term economic sustainability in mind, and storage rent is one of the ways we’re ensuring miners stay profitable well into the future. One community member, Robert, describes this function as ‘on-chain garbage collection’ that reduces the problem of blockchain bloat – and even makes it profitable.
The 2020 block reward reduction will probably be the most important halving Bitcoin ever experiences. This is the point where the narrative of programmatic scarcity and digital gold will truly be proven, in the context of the sharpest economic downturn in living memory. In previous halvings, Bitcoin has still been in its infancy, a niche experiment. Future halvings will confirm the principle. But this one is the watershed.
Looking ahead, though, what happens in 20 or 30 years, when block rewards have fallen so far that miners have to rely on tx fees and potentially other sources of revenue? Will Bitcoin be sustainable? What will be the impact on the ecosystem?
The simple answer is that we don’t know.
Mining rewards are a key feature in maintaining the security of proof-of-work blockchains like Bitcoin and Ergo. And so, while we have deliberately kept many of Bitcoin’s tried and tested features, we have updated this one to give miners a boost when block rewards have fallen to zero.

Lost coins

Digital scarcity is an important feature of Ergo. Like Bitcoin, ERG are designed to be a finite resource and long-term store of value. We do not agree with the principle of infinite inflation.
And yet, this has to be balanced against the needs to pay miners to secure the blockchain and process transactions. Without adequate compensation for miners, there is no viable blockchain at all. Ergo approaches this by slowly recycling lost coins, in a feature we call ‘Storage rent’.
Studies suggest that as many as 4 million BTC may have been lost forever. These are coins that were mined in the early days of Bitcoin and stored on hard drives that were subsequently thrown away or destroyed because the owners forgot about them or thought they were worthless, as well as coins in addresses for which the private keys have been lost. (And, of course, there’s Satoshi’s estimated holdings of 1 million BTC, which may never move.)
Where coins have genuinely been permanently taken out of circulation in this way, it makes sense to have a mechanism to recover them and put them back into the blockchain economy. That way, we can preserve digital scarcity without unnecessarily accelerating it. In other words, by attempting to stick to the intended algorithmic supply for any given point in time.
Ergo’s halving schedule is faster than Bitcoin’s. Block rewards start at 75 ERG, and decrease steadily after the first two years. There is no ‘long tail’ of emission, and after eight years block rewards will fall to zero. After that, total supply will be fixed. The number of ERG in existence will never be more than 97,739,925.

Storage fees

From that point, however, miners will need further incentives to secure the network. Miners have ongoing costs in terms of bandwidth and storage, and in cases where coins are simply left for years, there is typically no charge for reflecting the value of securing them. The tx fee that is paid up-front in Bitcoin is the only charge ever made for storing those coins.
In Ergo, in addition to transaction fees, miners will also be able to collect storage rent fees on UTXOs that have not been moved for four years or more.
Fees will be deducted slowly, over time – the unmoved UTXOs will not simply be appropriated by miners. Anyone who wants to avoid this simply needs to move their balances once every four years, which is not an onerous requirement for helping incentivise miners and avoiding the deflationary consequences of lost coins. You can read more about how fees will be levied in this paper.
In this way, Ergo seeks to ensure a balance between maintaining digital scarcity, on the one hand, and giving miners long-term incentives to secure the blockchain, on the other – long past the point where new coins have ceased to be released.
submitted by eleanorcwhite to btc [link] [comments]

Building Ergo: Storage rent

We’ve designed Ergo with long-term economic sustainability in mind, and storage rent is one of the ways we’re ensuring miners stay profitable well into the future. One community member, Robert, describes this function as ‘on-chain garbage collection’ that reduces the problem of blockchain bloat – and even makes it profitable.
The 2020 block reward reduction will probably be the most important halving Bitcoin ever experiences. This is the point where the narrative of programmatic scarcity and digital gold will truly be proven, in the context of the sharpest economic downturn in living memory. In previous halvings, Bitcoin has still been in its infancy, a niche experiment. Future halvings will confirm the principle. But this one is the watershed.
Looking ahead, though, what happens in 20 or 30 years, when block rewards have fallen so far that miners have to rely on tx fees and potentially other sources of revenue? Will Bitcoin be sustainable? What will be the impact on the ecosystem?
The simple answer is that we don’t know.
Mining rewards are a key feature in maintaining the security of proof-of-work blockchains like Bitcoin and Ergo. And so, while we have deliberately kept many of Bitcoin’s tried and tested features, we have updated this one to give miners a boost when block rewards have fallen to zero.
Lost coins
Digital scarcity is an important feature of Ergo. Like Bitcoin, ERG are designed to be a finite resource and long-term store of value. We do not agree with the principle of infinite inflation.
And yet, this has to be balanced against the needs to pay miners to secure the blockchain and process transactions. Without adequate compensation for miners, there is no viable blockchain at all. Ergo approaches this by slowly recycling lost coins, in a feature we call ‘Storage rent’.
Studies suggest that as many as 4 million BTC may have been lost forever. These are coins that were mined in the early days of Bitcoin and stored on hard drives that were subsequently thrown away or destroyed because the owners forgot about them or thought they were worthless, as well as coins in addresses for which the private keys have been lost. (And, of course, there’s Satoshi’s estimated holdings of 1 million BTC, which may never move.)
Where coins have genuinely been permanently taken out of circulation in this way, it makes sense to have a mechanism to recover them and put them back into the blockchain economy. That way, we can preserve digital scarcity without unnecessarily accelerating it. In other words, by attempting to stick to the intended algorithmic supply for any given point in time.
Ergo’s halving schedule is faster than Bitcoin’s. Block rewards start at 75 ERG, and decrease steadily after the first two years. There is no ‘long tail’ of emission, and after eight years block rewards will fall to zero. After that, total supply will be fixed. The number of ERG in existence will never be more than 97,739,925.
Storage fees
From that point, however, miners will need further incentives to secure the network. Miners have ongoing costs in terms of bandwidth and storage, and in cases where coins are simply left for years, there is typically no charge for reflecting the value of securing them. The tx fee that is paid up-front in Bitcoin is the only charge ever made for storing those coins.
In Ergo, in addition to transaction fees, miners will also be able to collect storage rent fees on UTXOs that have not been moved for four years or more.
Fees will be deducted slowly, over time – the unmoved UTXOs will not simply be appropriated by miners. Anyone who wants to avoid this simply needs to move their balances once every four years, which is not an onerous requirement for helping incentivise miners and avoiding the deflationary consequences of lost coins. You can read more about how fees will be levied in this paper.
In this way, Ergo seeks to ensure a balance between maintaining digital scarcity, on the one hand, and giving miners long-term incentives to secure the blockchain, on the other – long past the point where new coins have ceased to be released.
submitted by Guilty_Pea to CryptoMarkets [link] [comments]

The LIES of Chris Rabalais and AllSportsMarket

https://i.imgur.com/oucavJo.jpg
A) This is a work in progress. (trying to make this neater and add things that people post) These things have been collected from forums / posts in various places (official forums, reddit groups etc)..and are here to be sifted through and examined to see which are true and which are not. Anyone is welcome to comment both agreement or disagreement.
B) ANY CORRECTIONS please send a message and reference the lie number *** I want to remove false info ASAP*** Or make a post in this thread. If there is anything in this list that shouldn't be here, it will be removed.
C) If you'd like me to add a lie, PLEASE make a post in this thread! Include something like ADD THIS LIE and make a short description
d) ASM /Allsportsmarket / the company means any or all of the proxies and identities of CWH , NSEI, Sportshares.net etc
------------------------------------
A while back, Chris claimed people on reddit were "lying" and that he would respond "point by point" to any "lies" told by redditors. I have begun to compile a list of all of Chris' lies from various sources.

To Chris Rabalais / Allsportsmarket.com : You are more than welcome to respond "point by point". Please include a lie number...and respond and explain how it isn't a lie....

---

Lies of Chris Rabalais

1)This is and was an investment
He has always claimed this was an investment, and still does. He claims you will get a return...yet from the other side of his mouth, he makes sure to mention that this is a "donation." Not one of us would have donated to him without the chance of a return / profit. None of us. This was a donation....to Chris Rabalais...NOT an investment. Still to this day when askign for money he makes suree to put in DONATION but then out of the other side of his mouth he claims you will get a return..or profit..and says you are an investor / insider etc.....This is NOT an investment. This is a DONATION to a very inefficient "charity" claiming you will someday see a "return" on it.
2) Investors into ASM would get a return on their investment -- profit from it
He is still promising people a return...many people show a 'profit' on their account statement but are unable to cash out. Unable to withdraw etc...Chances are, If you have made a "profit" from this on paper, you cannot withdraw it.
3) He was in the process of registering the company shares with the SEC
The SEC has stated point blank he has taken NO STEPS to register the company shares. It is in the complaint.
4) The company shares were ABOUT to be registered, and once they did...they would have even more value and we would miss out unless we bought in
Not only did he say it was in process, he claimed many times they were very close to getting the shares registered and when they did, they would have more value..and investors would be sorry if we didn't jump in on this "rocketship".
5) Chris knows how to get the shares registered with the SEC or has any clue what he is doing in terms of registering the shares
According to the SEC , Chris Rabalais has no idea HOW to even get the shares registered...and that is in their complaint as well. Meanwhile for years Chris was claiming he knew what do do to get the shares registered.
6) "This may be the last chance to jump on this great opportunity"
How many times have we all heard this lie? This or that program is ending....you'll never get another chance at giving money to Chris Rabalais again...but then shockingly...there's another even better offer in a couple days/weeks...
7) If you don't give X amount of money right now , the lights might suddenly go out on ASM..and you'll lose your "investment"
Another lie they tell is that if you don't give money, they will go out of business and you will "lose your investment". Bullcrap , they're not shutting off their free money machine....until someone MAKES them. Oh and you have no investment. Two lies for the price of one.
8) This is not a ponzi scheme
Chris has addressed the ponzi issue only VERY briefly over the years. He recently claimed it isn't a ponzi because the "last guy in can still make money" but that would require MONEY coming in from others...so he gets around the truth by omitting that its not the "guy" its the "last money in " which is nearly the same thing... the people who put their money in last will lose....that is a ponzi. The Judge in the Seth Leon case said so...and I hope another judge says so soon. (See here: https://www.reddit.com/ASMEunfiltered/comments/e61nya/summary_of_the_seth_leon_case_with_update/ )
9) The sports shares have value
Chris claims they have value because they area "claim on future dividends" which is a lie. That is not any definition of real or intrinsic value...and even if it was (it isn't, IMO) the claim on future dividends is a LIE because every penny of that future dividend money relies on new money coming into the market...which is a ponzi...which is valueless
10) You would be able to cash out (sell your holdings, pay off your bonus margin and keep your profits)
He changed the rules when the market started imploding. For years he promised investors they could sell their shares, pay off our margin and take our profits. No one would've bought in if they thought they could never do this. Even after he froze people's ability to cash out...he kept claiming that we would be able to soon...and urged people to buy more margin because all of the profits would be able to be kept.
11) Chris would stop selling margin
Recently, there was a conference call where key members of the team called for an end to the margin offers..NOT because they were a scam (they are) but because it was no longer possible to ignore the implosion of the pilot market and the collapse was being blamed on margin....Chris agreed to end margin and made announcements to this end. In a short time, he realized that promising people money on margin profit was his only revenue...so he HAD to start selling margin again...He knows it is worthless, promised to stop selling it....and lied.
12) Different celebrities, politicians, business people were about to come on board and help us
XFL (paul has contacts with them!!), PHIL COLLINS' WIFE!, Mark Cuban, Jon Bon FUCKING Jovi, Roger Goddell, Snoop Dogg, Brian Austin Green, Trump (speaker at zero club), Labron James, meetings with MLB people, Jack MA / Alibaba.......god knows how many other names this guy drops as potential people who are going to help or who we are 'reaching out' to in order to get them to help us. (help me add to this list)
13) ASM would have a "liquidity event" and be able to make money off of our company shares
There was going to be some liquidity event where we could sell our company shares to other investors...of course it never happened.
14) The new york times ad was going to be about ASM or helping our investment
There was NO MENTION of ASM or AllSportsMarket in the new york times ad and it didn't do a single thing to help ASM become a legitimate company. The only thing it did (from memory) was bash gambling.
15) The trips to Israel, funded by the investors, were something worthy of doing with the money...
Chris bragged and posted pictures of his trips to Israel...but what did they have to do with ASM? How was spending "donations" (investments) for him to go to Israel supposed to help the company? Clearly this was a waste.
16) the Hero club events he goes to (more travel) help ASM in any way whatsoever
I have never seen any evidence that spending who knows how much of the investors' money has been wasted on this,yet chris continues to act as if his membership in the Hero Club is a wise way to spend money...I have seen no evidence that the Hero club has done anything bust waste money.
17) donating to ASM is helping anyone or doing anything other than putting money in HIS pocket...
Quite simply, Chris "donates" 10% of the money given him, if we are to believe that. So He has given (according to him) 150k+ to a hunger charity. They have (according to Chris) matched this 7x, so the 150k donation has turned into a millionish dollars worth of charity. Sounds good right? Well in doing so, Chris has just wasted 90% of the money. Instead of 150k, had we all simply given our 1.5 million to this same charity....and they matched it 7x...we would have turned our money into 10+ million dollars for charity. So essentially, even by Chris' own numbers...we have wasted 9 million dollars of potential charity....by paying Chris's rent..cars etc.. all so that he can take 90% and give 10% to charity....to me, this is wasteful and we would be better donationg directly to the 7x charity the entire 100% rather than wasting the 90%.
18) The ASM 'real market' was a real money market
Chris started the real market to fool us into thinking it was actual money. He later then changed the name to "pilot market" after taking people's REAL money..so he could have the excuse "HEY this is a PILOT market!!!" when you cant withdraw...otherwise why call this a "real" market then suddenly change the name to "pilot"?
19) the ASM pilot market was going to transition with your holdings to a 'regulated' or 'exempt market' and you would be able to keep your profit from the pilot market
So it has been promised to us that the pilot (which was the real market) market will transition to another market..where.....where you'll STILL be able to keep your profits...so..guys..KEEP BUYING BONUS MARGIN lol....
20) If there is a good enough plan, Chris will happily step down in January 2020 and let someone else change the direction of the "company"
Chris claims "give him till December" and if no one is happy he will step aside if that's what everyone wants...IF there is a plan he likes..LOL..we will see...but I am guessing he will not.
21) The pilot market is working
He has claimed the pilot market is working and proves that ASM is functional...yet the market has collapsed and he has frozen everyone's accounts from withdrawing..or paying off margin..etc...but the real/pilot market has been a disaster. Here is him contradicting himself and admitting that the pilot market does NOT work : https://vocaroo.com/bsbcnHWDF8z . This is an admission thatthe pilot market as it is now is busted and will never work without being completely re-designed (revenue sharing etc). The worst part of this is he KNOWS the pilot market is not working yet he is still selling margin to buy stocks on this market.....that to me is criminal. How can he do this?
22) The learning market is working and proves that the math and numbers are correct and functional
Claims have been made the learning market is working..LOL...anyone who has touched the learning market knows it is completely dysfunctional...and not any kind of advertisement or positive experience...
23) Bonus margin has some sort of value other than to put money in his pocket
He claims bonus margin has value. It doesn't. Its worthless. If he tries to deny this..ask him why he is selling it if it has no value? Ask him how he plans on turning something with 0 value into something with value. This is the core of his scam right now..selling WORTHLESS bonus margin with no value for real money...which he donates 10% of and the rest goes to expenses...and his salary & rent etc...
24) Chris "had alper" double check the math in 2009 , and the market math is fine..
Oh god...so in one of the videos, Chris claims he had Alper check the math in 2009 and alper told him the numbers work. This is such utter horseshit, and mainly designed to deflect responsibility for the failure of the market..so he can blame it on Alper. Chris knows the math doesn't work. Alper knows the math doesn't work..and Alper & Chris know that margin is worthless...and they know the market is a failure...they have to know this...
25) special clubs like "ASM Black", "Insider programs", "Advisory Councils" etc etc are anything other than him trying to get even more money out of your pocket
All of these programs are just designed to get you to give them more money..there is no real benefit to being a member in them. The insider program just basically stopped people from being able to withdraw sooner....who knows what ASM black was..and this advisory council...what was that? Give Chris 100$ to listen to more youtube rants? Ok...whatever new club or council they will come up with next is a bunch of crap designed to make you feel special as you give them your hard earned money.
26) The NDA he sent via email before spamming you with more ads is legally binding
We all know the NDA he sent via e-mail was worthless..it was hilarious.....and unenforceable....
27) They would provide investors with financial documents / audit / detailed information at the end of October 2019
Yeah so will we ever get to see the "audit" ? Doubt it...they are not transparent with any pertinent info. Who is paid what? Who holds what shares? What shares have been granted to who? What money was paid by NSEI to who , and for what? "Seal of transparency" my ass.
28) The SEC filing suit against him could be viewed as a positive in some ways
I forget how he worded it but he basically claimed the SEC suit was some sort of opportunity for something positive for him. The one positive thing I can think of is it stopped him from getting more money from suckers...
29) He didn't "really" lose the case against Seth Leon
He made all kinds of excuses and claims the only reason he lost against Seth Leon is because Seth Leon sent the papers to an old address....LOL (see here: https://www.reddit.com/ASMEunfiltered/comments/e61nya/summary_of_the_seth_leon_case_with_update/ ) Make NO mistake..Chris LOST the case. The court found "AMPLE EVIDENCE" of fraud by Chris Rabalais.
30) It was Trump's fault (Govt shutdown) that he didn't get paperwork done with the SEC
LOL...I hope this is what he tells the Judge
31) It was Jason's fault that "a letter" wasn't sent to the SEC regarding the NRHL
Blame it on a guy who doesn't work for the company any more...
32) It is alper's fault the math/numbers don't work because Chris asked alper to "check the numbers" in 2009
Blame this on Alper.....when he has known for YEARS the numbers do not work
33) there were "saboteurs" who tried to wreck the "deal" with NRHL, who came from reddit..*but luckily they saved the deal!
Remember the saboteurs? remember how they "saved" the deal with the NRHL? Remember how the NRHL was going to be huge for ASM? Yeah none of these things were true....MAYBE a guy (gregson?) tried to contact the NRHL to find out if they were even real.. but NO ONE thought the NRHL was going to be a good thing..and NO ONE wanted to transition their money to a market led by roller derby..because it was and is a stupid idea.
34) There were lawyers (zero club? friends?) who were going to help with the SEC defense for free
Chris had an army of lawyers, some of the best in the country and who had never lost...but yet he had to beg the court for a free lawyer because he can't get a lawyer to represent him...LOL
35) "secured by blockchain" - Chris claims this tech is in use now but what is it exactly other than bullshit?
On one of his latest videos he claims the blockchain technology is protecting the ASM market right now...BS. There is no technology that I have seen. There hasn't been anything said about what this even is or does. Ace hasn't even been heard from since around August has he? They can't even get an android app...the blockchain bullshit is just more jargon and buzzwords...trying to get you to give them money...there is nothing behind this "secured by blockchain" trademark...other than words...otherwise why not explain exactly what it is, and how it works ..etc...
36) Chris is going to counter sue the SEC and prove that he is a legitimate business
LOL.. with his free lawyer?
37) All cryptocurrencies are a SCAM
Notice he screams and cries FRAUD at many things, but he is a fraud himself. Typical tactic...accuse others of what you are doing. Also, there is some real value in some cryptos, like bitcoin...unlike a sports share on ASM. Its called 'proof of work' ...that has real value that can even be measured..by electricity use, processing power etc...I am not arguing it has a lot of value, or even that it is as valuable as the price....but it is above zero, unlike a share in a sports team on ASM. I'm also not an expert nor to I condone investing in crypto...
38) Gambling is more of a problem than ASM / NSEI
Again, he screams and cries about how dirty Gambling is...but at least legal gambling is regulated, and you have a chance to win. Unlike ASM...
39) They were working on an Android app , and needed donations for it
One of the reasons I donated early on was because of seeing the IOS app, and the promises of making an android app.In fairness this might not have been a lie....but if theyre not going to make an android app , then say so.
41) They lied by omission and did not tell investors about the SEC suit until August 2019
So someone else came and announced the SEC lawsuit on the reddit forum in August 2019. There is some strong evidence that Chris knew about this in April 2019 or even earlier like maybe Oct 2018...and if he knew about it before it was announced , then he witheld this information from all of us..
42) The NFL / MLS "Deals"
We very nearly had a deal with the NFL and MLS...or have / had a chance to make deals with them...its all bullshit. The guy cant even make a deal with roller derby leagues...and we are expected to believe he is making deals with major leagues?
43) Wefunder / Crowd Funding
We started the process to sell shares through we-funder....but they turned us down. Guess what Chris "forgot" to tell us all? THE REASON they turned us down...because ASM / CWH doesn't pass the "smell test"? What was the reason? It seems like maybe the reason was the UNREGISTERED SECURITIES? I mean there had to be a reason..what was it?
44) Share Buyback
They were going to buy back company shares from investors....and at times stated the shares were so valuable they would gladly buy them back for X amount because they were sure to go up in price...but when push comes to shove they NEVER will buy this worthless junk back......even for 1 penny. A lot of the 'tyes men' have stated they would also buy shares back from unhappy investors but of course they never do this in reality.
45) Telling the truth, even if it is harmful to Chris / ASM is some type of Slander or Libel
Chris would like you to think that calling him out on fraud and lies is some type of "libel" or "slander" but as anyone knows...telling the truth is not slander or libel. He is trying to scare people from telling the truth. Blowing the whistle on his fraud is NOT slander or libel. Period. He is the CEO of a company that he sold shares of stock in, fraudulently. He must and will be held accountable.
46) The market cap number is a legitimate indicator of the validity of ASM
Chris love to throw around market capitalization numbers (4 Billion LOL) as if they mean anything at all or indicate that this market is healthy. They include the learning market (fake money) and the margin (also fake money). If you subtract the learning market, the bonus margin, and the money "used" by chris for data, rent, cars etc...you have pretty much zero market cap in reality.
47) ASM has a way of checking if an investor is accredited: See here: https://www.reddit.com/ASMEunfiltered/comments/eacs69/new_lies_regarding_searching_for_for_accredited/ . In my understanding , one of the ways (in some cases) un-registered securities can be sold is if it is to an "accredited" investor. The SEC has said Chris has no means of checking this. I would personally believe the SEC at this point....and I will count this as a lie until it is proven that Chris / ASM actually does have a way of legitimately checking accreditation.
48) The reason Chris withheld the fact the SEC was investigating him and suing him was because the SEC told him he couldnt tell us.
BULLSHIT. In the audio Chris makes absurd claims that he couldnt tell "investors" of his problems with the SEC because they told him not to talk about it. Yet meanwhile he kept taking money from investors as if everything was fine..KNOWING that trouble was brewing and KNOWING that the shit was going to hit the fan. Show me a letter by the SEC that says he can't warn his investors of an impending action by them SHOW IT TO US. If you show this to us, I'll remove this lie. It doesnt make any sense because the SEC exists to protect us from predators like Chris , so why would they tell him he cannot warn us of problems with the SEC????? MAKES ZERO SENSE. Does not pass the smell test. This is a lie by omission..taking our money , pretending things are fine....but KNOWING problems are coming. The bottom line: Chris didnt say SHIT about this anywhere that I know of until AFTER it was posted publicly that the lawsuit was filed...I heard about this online before it was ever mentioned by chris in any conference call or statement by him.
49) Not sure if this is technically a "lie" or not but the guy / ASM has at least 10 twitter accounts...here are a few of them: 1) https://twitter.com/AllSportsMarket 2) https://twitter.com/rabalais_cva 3) https://twitter.com/asmclients 4) https://twitter.com/thesportsvote 5) https://twitter.com/SportsFolios 6) https://twitter.com/MySportsWiki 7) https://twitter.com/chrisrabalais 8) https://twitter.com/NuSportsEconomy 9) https://twitter.com/ASMFreeApp 10) https://twitter.com/ASM_Advisor (not 100% on this one but it looks fake) ..etc..... It looks as if this one: https://twitter.com/ASMFreeApp has a bunch of bots or paid 'farm' followers. So, while not a 'lie' exactly...very odd and shady behavior.
50) In the "Investors Q& A" found here: https://tinyurl.com/spbznmf They failed to disclose the Seth Leon case, the failed attempt at bankruptcy discharge of the fraud debt, and failed to disclose the debt owed to Seth Leon. So they lied in the sections about Legal Problems and they Lied in the sections about Debt. This is in a Q&A involving potential ionvestors so they are lying to potential investors about the risks.

51) Chris will "fact check" and respond to every accusation made against him and prove that these things are lies told by "known liars"
https://i.imgur.com/HaGfekN.jpg
So a couple of weeks ago, Chris said he would fact check all of the "lies" told about him...so I thought I would do him a big favor and make a huge list. His claim was that everyone saying all of these things are "known liars" and none of these things is true. He says they are all bogus "claims" made by "liars." He said he would refute these"claims." Well guess what asshole? Every songle person reading this is probably a victim of yours, and they KNOW all of these things aren't "claims" ... they are facts. I have done my best here to stick to things that are universal..that we have all witnessed as investors.
Now (shockingly) chris refuses to "fact check" any of these "lies." He says he will respond only if you sign your name and send him a private e-mail or make a post on his censored and controlled website where he has to approve any post before it is seen by the public... So I will add this as yet another lie. He will never refute SHIT. He is a thief and a liar. and a con man....and CAN"T refute anything said above. Period. More than likely if anyone posted this list on his forums, he would NEVER allow it to stand....so how is anyone supposed to get this list "fact checked"? The only Known liar here..well..I think we all know who that is...
You would think he might want to address these things publicly instead of making people ask via e-mail and leaving a cloud of suspicion for potential investors to see..and maybe he would rather answer one time,rather than a bunch of separate e-mails......but I guess when there are literally no answers to any of these things, the only solution is to try and hide it more...
submitted by 707NorCaL707 to ASMEunfiltered [link] [comments]

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Crypto Collectibles Are Worthless Without a Website. March 23, 2018. 1120. Share. Facebook. Twitter. ReddIt. Telegram. Pinterest. WhatsApp . Advertisment. Crypto collectibles are big business right now. Crypto Kitties just raised $12.5 million in venture capital, and lookalike sites are springing up everywhere trying to cash in on the craze for non-fungible digital assets. For all their ... Crypto collectibles recently appeared and are making noise in cryptocurrency world. This happened after CryptoKitties raised a whopping $12.5 million in capital. They have a decentralized system, and if they keep doing this, these digital assets will remain worthless. The recent collapse of Crypto Celebs is a living proof of this. Crypto collectibles are big business right now. Crypto Kitties just raised $12.5 million in venture capital, and lookalike sites are springing up everywhere trying to cash in on the craze for non-fungible digital assets. For all their innovation, these ‘decentralized’ projects have an achilles heel: without a website, the digital assets are worthless, as the collapse of Crypto Celebs and ... You are here: Home / Crypto Blog / Bitcoin / Crypto Collectibles Are Worthless Without a Website. Crypto Collectibles Are Worthless Without a Website March 23, 2018 / in Bitcoin / by Bitcoinist. Crypto collectibles are big business right now. Crypto Kitties just raised $12.5 million in venture capital, and lookalike sites are springing up everywhere trying to cash in on the craze for non ... BITCOIN CANNABIS CRYPTOCURRENCY ETFS EARNINGS FIXED INCOME. FUNDS. FUTURES OPTIONS. RATINGS. REITS. STOCKS. 15 Collectibles That Are Completely Worthless (Such as Your McDonald's Toys) These are ...

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Redeeming a Satori Coin

Each Casascius Bitcoin is a collectible coin backed by real Bitcoins embedded inside. Each piece has its own Bitcoin address and a redeemable "private key" on the inside, underneath the hologram. since Bitcoin is worth more than gold currently , it wouldn't take you a full bitcoin to purchase a full ounce of pure gold. - So think about that! it could be a great play now, and in the coming ... This is my video of how to use a basic Bitcoin ATM. For any worthless paper you have laying around to make some REAL value out of it follow this. As well as a quick market recap for the day ... Cryptocurrency 24 hours 24/7 news #news #Cryptocurrency #Bitcoin #cinadean #invest #247Crypto follow me on Instagram! @cinadean1 Like and Follow our facebook... Bitcoin Not Quite Worthless, Potentially Profitable Currencies / Bitcoin Apr 06, 2018 - 04:00 PM GMT By: Mike. McAra Is Bitcoin worthless? Depreciation brings such questions as it has in the past ...

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