Cryptocurrency News & Discussion

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/morrisdev on 2024-01-21 19:11:15+00:00.

I have my own little business and have been dabbling in crypto for fun since it came out. Now, I've had some customers talk about using it in their database systems.

I like ETH and ADA, but I pretty much just sit on it. I figured we'd do some testing with smart contracts to shot the client as examples.

The gas price on Eth was pretty high or the speed was unacceptable. So, I don't get it? I like my portfolio getting bigger and all, but I invested in it SOLELY because I saw it as a technology that would dominate the automation of financial software. But now.... Not so much.

Ada is super fast and cheap in comparison, but I don't know haskell or Rust, but I certainly don't want to spend 200k writing a software that's going to be inefficient or even irrelevant in a matter of years.

Ugh. I'm really disappointed here.

I now know "why" gas is expensive and people have told me 100 ways to bundle, etc... And even more have tried to push me on using chains like sol and nano and xrp, and I guess I'll need to research them. The thing that is driving me crazy:

If the gas fee is so high due to the networks transaction volume, why do people "transact"?. I just sit on mine, so I never even noticed. I just see the balance go up. But, who the F actually "uses" ETH when deciding to send someone $50 or something? Why would anyone actually "use" ETH to send someone money?

I must be doing something wrong. I'm praying I'm doing something wrong, because if it's just good for holding, then the justification I used for investing in it is completely wrong.

Something.... One of these chains... Is going to become the standard when developing software. AWS S3 pretty much standardized storage for us. S3 and Azure and Google Cloud Storage are practically identical, dominating software. A million other options just died in ignominy.

So, Why do people "transact" in Eth rather than chains that are literally thousands of percent cheaper and faster? Is there a reason I'm missing?

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/DrDynamicyt on 2024-01-21 18:18:31+00:00.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/saltmurai on 2024-01-21 18:00:48+00:00.

I'm a software developer for a former blockchain company. Few weeks ago, out of nowhere my boss being super hyped about this Blast L2 things that is very trending on Twitter. At the point of speaking, it has attracted $1.1 billion TVL and has launched a test net. My boss told our team to stop working on whatever we are building and work on a new project on top of this Blast thing. But me and my coworkers can't wrap our heads around how is this thing legit and why people are putting money into something as vague as this Blast thing is. I've no experience in crypto and web3 prior so I'm posting it here to get some insights, since I'm very concerned that my team are working on what basically is a scam. Thanks in advance.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/operablesocks on 2024-01-21 17:35:13+00:00.

Basically, the German CEO, Horst Jicha, finally after 6 years, tried coming back into the US a few weeks ago through Miami, which triggered his immediate arrest, and he's now up in in a Brooklyn jail, awaiting trial. The DOJ estimates Horst and the other owners (Ralf Gold and Joao Severino) took in over $150M during their 2017 scam, and they've set up an email address specifically for those who lost money to their scam.

If you know anyone who lost money to the USI Tech/Tech Coin combo scam, have them email that specific address they mention in the above link. To avoid phone tag, have them include the following info:

Full birth name, phone, email, mailing address, and approx $ amount that was lost.

There's never any promises when it comes to claw back victim restitution cases like this. Horst and his cohorts may have lost most of it, or spent it on lifestyle. But the same New York FBI unit was able to claw back over 90% of the money that victims in the Bernie Madoff's scam had invested. Hope this info helps 100s of others. 👍

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/SatoshiFlex on 2024-01-21 17:12:37+00:00.

CruxDecussata is a privacy-focused cypherpunk project that has announced its standalone privacy Layer 1 chain, and encrypted messenger app. Here's some info to get you up to speed:

[Project & Domain Background]

CruxDecussata.com owns the unique domain ☓.com (est. 2005), which is widely recognized as the Saltire or Crux Decussata. Its punycode is xn--33h.com and is distinct from Elon Musk's x.com

☓.com was the domain for Herbert Sim's Crypto Chain University(CCU)—a space dedicated to research and collaboration among cypherpunks, among whom Satoshi Nakamoto was an eminent member.

[Dev & Launch]

CruxDecussata's anonymous founder CP33 acquired the domain URL xn--33h.com in July 2023 and stealth-launched the $X token in August 2023.

At launch, the dev inscribed on the Ethereum blockchain that 66.6% of sales proceeds will go to holders of the $X token. CruxDecussata’s flagship app, XMessenger, also rewards $X holders a 60% share of its generated revenue.

[XMessenger & Xchain]

XMessenger is a privacy-focused messaging platform with non-KYC login, free encrypted messaging, and untraceable ZK cross-chain transfers. Its upcoming suite of functionality includes anonymous cross-chain swaps and privacy mixer, and is facilitated and secured by CruxDecussata’s standalone Layer 1: Xchain.

Xchain secures XMessenger’s attestation layer, and employs a Byzantine Fault Tolerance consensus method (a recognised battle-tested consensus mechanism) with a GLS layer to ensure security, scalable efficiency and absolute privacy at high volumes.

XMessenger rewards token holders with a 60% share of the platform's generated revenue, and 30% of revenue from each transaction is used to buyback and burn $X tokens.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/Envarion on 2024-01-21 16:09:58+00:00.

Hi all. I'm looking to up the security of my holdings and want to do things in the best possible way. I wanna go full-paranoid mode. Here's what I have in mind:

I am looking for an (android?) device that is physically incapable of wireless comms: no BT, wifi, or celular. Or a device that can be modified to physically remove these features permanently. But it needs NFC since I want to use it to program Tangem cards.

That's it: NFC capable (to set up Tangem via side-loaded app), but otherwise fully HARDWARE air-gapped (for seed generation).

I'm not interested in any software solutions to airgap the device. (That means: no airplane mode, no custom ROMs, no router configuration to block the device-- I want it to be physically impossible for the device to ever connect anywhere)

Here are the options I've explored so far and my concerns:

Buy a small laptop and remove the wireless adapters - This will work for seed generation, but there doesn't seem to be any way to use NFC with an emulated android app. Would need a usb NFC antenna and an emulator that supports the feature and that particular hardware. If anyone knows any solutions to this I'd be very interested since this would be the easiest option for me.

Pinephone - A phone that has physical kill switches for wireless comms. Really cool idea, but I don't know that these switches don't just tell the software to turn things off. Phone doesn't support NFC natively and the idea for an attachable NFC cover won't be coming to fruition.

Buy and modify a phone that supports NFC - Preferably something with a higher level of 'repairability,' although this isn't a huge factor. And with discrete and dedicated wifi/BT, and GSM chips that I can just flick off of the board. I had an old Samsung Note 3 I tried modifying. I learned that simply removing the comms antennas does not disable any of the wireless features, it just attenuates them a bit. So then I removed the GSM chip and successfully disabled cellular, but removing the chip that handled wifi/BT (and apparently other stuff too) resulted in the device being unable to turn on. So I've been doing research trying to find a phone that can be modified in this way.

Let me know if you guys have any other ideas. Thanks

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/HarrisonGreen on 2024-01-21 15:30:13+00:00.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/Savi321 on 2024-01-21 14:25:37+00:00.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/francis105d1 on 2024-01-21 13:14:46+00:00.

The emerging landscape of decentralized finance (DeFi) introduces innovative protocols aiming to redefine stable asset tokens and interest-free loans. This article delves into a detailed comparison between Liquity, specifically Liquity V1, and a promising newcomer called mUSD. Both projects share a common goal of providing a stable asset token with an incentivized floating peg and facilitating interest-free loans through decentralized borrowing mechanisms.

The reasons why we shouldn't adopt a stablecoin for the CashToken ecosystem are beyond this article topic and we will still need to see the final product to conclude whether the Bitcoin Cash community should adopt the final product or not.

The stablecoin from CauldronSwap is inspired by Liquity V1 so the key points to observe are the following:

Collateral and Loans:

• Users in both Liquity and mUSD lock up collateral (BCH in the case of mUSD) to generate collateralized tokens.
• Liquidation can occur if the collateral value falls below a certain threshold (110% in the case of mUSD), with others having the opportunity to liquidate the contract and earn a premium.

Instantaneous Liquidation:

• Liquity-like systems, including Liquity V1, implement "instantaneous liquidation" without relying on on-chain auctions, considered more capital-efficient than systems like MakerDAO.

Stability Mechanisms:

• Liquity incorporates additional stabilization mechanisms, such as the stability pool, which is not explicitly mentioned in the mUSD discussion.

Borrowing and Redemption Fees:

• Both Liquity and mUSD impose one-time borrowing and redemption fees, algorithmically adjusting based on factors like the last redemption time in Liquity.

Under-Collateralization Risk:

• An unaddressed issue for mUSD is the risk of under-collateralization in the event of a more than 10% price crash between Oracle messages.

Weight and UpdateSequence:

• mUSD considers implementing a weight mechanism in the commitment of the loan contract, adjusting based on redemptions and "updateSequence" calls.

NFT and Loan Ownership:

• Discussion surrounds the possibility of making the NFT representing the loan transferrable, potentially enabling traceability in specialized contracts.

Market-based vs Algorithmic Corrections:

• Consideration of whether corrections for supply/demand should be fully market-based or algorithmic.

Global Controlling Variables:

• Discussion about whether controlling variables in the UTXO model should be simply single-threaded or require joint execution. Also, considerations regarding tracking an asset as closely as possible to reflect natural demand in the community.

Minimum Viable Product vs Innovation:

• Reflection on the strategic choice between creating a minimum viable product, closely emulating an existing model or striving to pioneer the best possible solution.

Conclusion:

While mUSD draws inspiration from Liquity, this comparison highlights nuanced differences in their proposed implementations. As the projects evolve, further insights may emerge, shaping the trajectory of decentralized stable asset protocols. For specific inquiries or deeper exploration, feel free to inquire about this project and I would even add to follow the developers for future updates.

Find the original post at:

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/flowers_at_dusk on 2024-01-21 13:10:29+00:00.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/Blocks_and_Chains on 2024-01-21 12:59:06+00:00.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/Volgrand on 2024-01-21 11:54:15+00:00.

Hey there.

I have notice that during this bull run, the conversations about crypto have changed a lot.

For once, I have noticed an increase in scam emails and the sorts: "KYC for your wallet", "update your credentials on finance", "your funds are at risk"... I feel like the way they are trying to scam people has become a lot more obvious and spread than before.

On the other hand, I'm seeing a lot more of crypto users that are saying truths I myself said many times and got criticized for it: that most cryptos are a sum zero equation, that many alt coins are rug pull schemes or pyramid schemes, and a long etc.

I just find it quite interesting and wonder if the crypto investment is now moving to a new direction

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/FitScore3115 on 2024-01-21 11:18:49+00:00.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/bIackrain on 2024-01-21 10:10:41+00:00.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/kirtash93 on 2024-01-21 10:01:11+00:00.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/GoodNature33 on 2024-01-21 09:18:44+00:00.

Polygon (actually an own PoS chain), Arbitrum and Optimism were the first "L2s", then Coinbase's BASE, now Metamask also get its L2 called Linea, then there's Scroll and zkSync. Manta has its new released L2.

This list seems not to end, there will be more and more L2s coming.

It feels like 2024 hype is all about new L2s.

But does the market get oversaturated soon? Will there be a L2 to rule them all or will most L2s co-exist parallel with each other?

The bridging from ETH to a L2 is a hassle already, it will be a greater hassle if people own ETH on a dozen of L2s.

Just my opinion, but I think that just two or three L2s will make it longterm depending on scalability, transaction costs, security and most importantly: adoption!

At the moment, I cannot see which L2 is better than the other.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/travelerlifts07 on 2024-01-21 06:04:05+00:00.

Please find below a link to the following document related to the bankruptcy proceedings of PGX Holdings, Inc., et al., Case No. 23-10718 (United States Bankruptcy Court, District of Delaware): • Notice of Hearing to Consider (I) the Adequacy of the Disclosure Statement and (I) Confirmation of the First Amended Joint Chapter 11 Plan Filed by the Debtors [Docket No. 483] For more information, contact [email protected] or call (888) 249-2721 (U.S./Canada) or (310) 751-2604 (International). Please visit the case website at or for copies of all court filings and other documents related to the Chapter 11 process. Do not reply to this e-mail, as it was delivered from an unmonitored e-mail account.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/travelerlifts07 on 2024-01-21 06:03:06+00:00.

On August 14, 2023 (the "Petition Date"), Prime Core Technologies Inc. and three affiliated debtors (collectively, the "Petition Date") filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code. The Debtors' bankruptcy cases are jointly administered under Case No. 23-11161 and are pending before the Honorable Judge J. Kate Stickles in the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court"). Below please find a hyperlink to an important document recently filed in the bankruptcy proceedings of Prime Core Technologies Inc., et al, Case No. 23-11161: Docket No. Date Filed 46 08/28/2023 Document Name Notice of Meeting of Creditors/Commencement of Case // Notice of Chapter 11 Bankruptcy Case Filed by Prime Core Technologies Inc.. 341(a) meeting to be held on 9/25/2023 at 02:00 PM (check with U.S. Trustee for ocation). Objection 523 due by 11/24/2023. (Kandestin, Maris). For additional case-related information, please visit . Regards, Stretto

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/Mdpablo on 2024-01-21 05:58:30+00:00.

In other phrasing; what’s your starting point for crypto info? Firstly: The obvious answer would be this subreddit. however fun it may be to linger around, this ends up being a place for shilling and echo chambers: Lots of very vocal people talking about a handful of coins would make one believe that a coin got lots of traction and legitimacy. I got cought up in it last bullrun but learned the hard way that this is not at all a representation for the market as a whole. Last run the best strategy would have been to do pretty much the exact opposite as the recommendations here. Usually the train has left the station already when a coin gets hot over here.

A second obvious reply would be “DYOR and read the whitepapers etc.”. However in my opinion that’s a second step after getting directed to a certain coin from another source. There is just to much going on that it’s like finding water in a desert if there is no lead.

A third would be the known crypto YouTube channels. Many are however getting pretty close to pyramid schemes. The big ones have enough reach to launch a certain coin themselves. They obviously make bank and you could as well if lucky but it feels like gambling to me.

So where do you start? Who do you “trust” for legit info?

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/NJBridgewater on 2024-01-20 10:10:45+00:00.

My latest post:

An analysis of how Bitcoin citadels would exist in a theoretical post-apocalyptic zombie landscape. A thought experiment, if you will. Bitcoin citadels would allow free trade across distances and collaboration among disparate communities of 150 members or more. I suggest that Bitcoin is sufficiently anti-fragile to survive any such cataclysmic future.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/barthib on 2024-01-19 17:00:09+00:00.

1. Everyone has always considered gold as a reasonable and valuable way to hold value. The reputation of Bitcoin is the complete opposite. So I don't expect to see with BTC what we saw with gold ETFs.
2. It is complicated to buy certified gold and store it. With Bitcoin, everybody could already buy and hold with an online exchange. Front runners are now taking their juicy profits.
3. There existed already BTC ETFs in Europe and in Canada and American individuals and funds could already buy ETFs (those abroad or the existing Futures ETFs) in order not to miss the bull run. These front runners are now taking their juicy profits.
4. Americans ETFs are all what Bitcoin enthusiasts have dreamed of for a decade. There is no bigger news to reasonably hope for after that (all attempts to make it a national currency failed). The ETF is the end of the adventure.

Positive view point: meanwhile, Ethereum builds the Web 3.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/f00dl3 on 2024-01-19 14:54:56+00:00.

Not sure about Etereum ETFs to short. If anyone knows any let me know.

BITO is the only one I know that is predictable. You can short XBTF on Fidelity as well but the movements are really strange. GBTC does not let you short, and so far none of the new spot ETFs allow trading on margin that I know of.

Didn't know if anyone else knew good ETFs to short for crypto in general.

BITO has been my go-to but yesterday and the day before there were no shares available to short. Today it looks like over 1 million shares have been released for shorting - but in the future would be nice to have a backup plan for these huge chart rejection points i.e. 48k for the king, 2.5k for Ether... etc.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/FitScore3115 on 2024-01-19 14:45:51+00:00.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/TheVasa999 on 2024-01-19 13:13:44+00:00.

Lately, I've been researching crypto airdrops, and found it quite interesting but I am very skeptical (giving out money for free is always suspicious).

Can it be profitable? Or do you spend more on swap fees, and have to have huge amounts of money to break even?

When researching, I have mostly found very varied responses where someone could get thousands in drops, while others got cents. And it also apparently takes a lot of time.

I am not asking for specific projects. I would like to hear your experiences with them. Thanks.

This is an automated archive.

The original was posted on /r/cryptocurrency by /u/cointelegraph1 on 2024-01-19 12:24:06+00:00.