ALT Coin discussion

Discussion in 'Blockchain & Cryptocurrency Mining' started by Gunna, Oct 10, 2017.

  1. douver

    douver Member

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    Well some good news for altcoins today. EOS got a 24million fine from the SEC for selling a security. Why good? From a 4.1billion dollar ICO, it's pittance and it shows other rich coins who can afford good lawyers can effectively pay their way out of a being a security. Examples of other coins in this position that have rich owners and likely a security are XRP/BNB. https://www.sec.gov/news/press-release/2019-202

    Interestingly enough a few exchanges got together to make their own rating system yesterday on the risk that a coin could be a security. Only a few coins on there. https://www.cryptoratingcouncil.com/asset-ratings

    [​IMG]

    Anyhow I've been stocking up on some ETH lately to add to my XTZ and ZEC. BTC pump seems to be somewhat over?
     
  2. whatdoesthisdo

    whatdoesthisdo Member

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    I was 99% sure the sec had already publicly mention that eth and btc aren’t considered securities.
     
  3. dirkmirk

    dirkmirk Member

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    https://www.afr.com/chanticleer/perth-mint-goes-crypto-20191010-p52zjg

    My idea of a stablecoin...

    Great news I think alot of traders would prefer to cash into a physical metal token over Libra or USDT let alone USD, being backed by the Western Australian government is also a good sign, not really one for the crypto purist as their backed by nothing but could appeal to people who want to own gold or silver without the hassle of storing it, relies on a trusted 3rd party but with any crypto token the big names you trust on them to do the right thing by you, the whole "untrusted 3rd party" in crypto is such a nonsense topic, you want your investment to increase in value and see what happens when if you get F##ked over by the likes by Rodger Ver or Tommy Lee people hate to admit but they trust these guys to grow their asset.

    Any crypto token exchanging hands is essentially a trustless system but the human element can't be ignored, the developers, marketers and the general populace or government.

    YES I laugh at the people who push the virtues of a trustless system, way too simplistic to view at that angle.
     
  4. koss

    koss Member

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    That's correct, BTC never had an initial coin offering, and ETH got a "free pass" because the SEC wasn't watching back then when it was launched, and by the time the SEC was interested in crypto, ETH was well decentralized.


    BTW.

    https://www.perthmint.com/media-infinigold-pmgt.aspx
    This is a government sponsored project!
     
    Last edited: Oct 15, 2019
  5. Bourke

    Bourke Member

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    Dear Cryptopia Stakeholder,

    You are being emailed as part of the Liquidation of Cryptopia Limited.

    The liquidators have applied to the High Court of New Zealand for directions regarding the legal status of customer holdings and the ability to hold Cryptocurrency on trust. The Liquidators have asked the Court to appoint two Queen’s Counsel for these proceedings.

    The Court has approved the Queen’s Counsel appointment and service of this order must be effected by the liquidators sending an email with a link to these proceedings for all potential trust beneficiaries and creditors that Cryptopia held email addresses for.

    The Court orders and an update from the liquidators can be found at the link below:

    CRYPTO looking like a bright future.....atleast ppl get some money back unlike "we had a database issue" and your account is empty.
     
    koss likes this.
  6. Ronald Reagan

    Ronald Reagan Member

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    By order of the Queen!!
     
  7. koss

    koss Member

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    Alex from Nuggets News interviewing Erik Voorhees the CEO of Shapeshift talking about the crypto market in general, he is very bullish because the fiat currencies are destroying themselves.
     
  8. OP
    OP
    Gunna

    Gunna Member

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    https://www.powerledger.io/article/...t-of-virtual-power-plants-in-south-australia/

     
  9. whatdoesthisdo

    whatdoesthisdo Member

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  10. koss

    koss Member

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    That's an interesting single point of failure.
    I tend to use 3rd. party multi-currency wallets eg. Trezor.
    Back in the old days I would use a wallet for each coin, but there are so many now, it's rare to grab an official wallet. I think cardano was the last official wallet I used.
     
  11. whatdoesthisdo

    whatdoesthisdo Member

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    For all you ADA hodlers out there, don't forget that snapshot is getting taken tomorrow and you need your coins in a daedalus or yoroi wallet
     
  12. douver

    douver Member

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    Tezos / XTZ is pumping like it's 2016/2017 and is into the top 10 now. Tezos is about double up this year on BTC and very close to an ATH (CMC has a fair bit of data which is just futures/IOU's before proper liquidity). Most exchanges are offering interest payments just for holding Tezos on their exchange now, and there seems to be a bit of a competition between them for customers. You can also hold your coins in your own secure wallet and delegate them to someone else that runs the node for interest too. I think this sharing inflation between holders rather than miners is the big selling point of Tezos currently.

    Even ZEC seems to potentially be forming a bottom and is up 20% on BTC.

    Could it possibly be the much prophesied altseason coming? Or is it just a mirage.....
     
  13. Bourke

    Bourke Member

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    https://www.forbes.com/sites/billyb...aited-bitcoin-rival-almost-here/#49d4bdfb6871

    LINK IS TO RUSSIAN RT NEWS(WARNING)
    https://www.rt.com/trends/cryptocurrency-cryptographic-exchange-bitcoin/

    Came across RT business news, they had a whole segment on Crypto news.
    News to me was China Government launching a Crypto-linked to RNB currency in a few months, as a way to monitor and ^cough^ manipulate inflation and currency devaluations.
    Watching the RT show, pretty shocking at how they were pumping Crypto like a FOX news report.
    "Look at Zimbabwe, and look at Venezuela and other South American countries, they're governments destroyed the currency, that's why a decentralized currency would work so well, for the people."
    Sure it's RT propaganda, but it's advertising for Crypto....i.e suckers dumping fiat into it, hoping to get rich.
     
  14. koss

    koss Member

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    The Chinese RNB is not a crypto currency, it's just a digital currency. You wont see a government or a bank using crypto, it will be a digital token that they can issue as many as the like. The only thing important to these people is the ability to conjure as much money as they can get away with out of thin air, no energy cost.

    ATM the only coins with any intrinsic value are mined with PoW because you can work out the energy that went into producing the coin from the difficulty, hashrate at the time etc. that are recorded on the block chain.
     
  15. shredder

    shredder Member

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    Burning energy for the sake of it is not intrinsic value.

    You can't extract the energy back out of the crypto coin.

    A lot of people are seriously deluded about this stuff, brainwashed with twisted logic which they then worship as gospel (ironically while whinging on about the general population doing the same thing with banking, etc).

    The sole driver of crypto in 2019 is former bankers like Arthur Hayes bluntly taking everyone's dumb money.
     
    Last edited: Dec 15, 2019
  16. dirkmirk

    dirkmirk Member

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    Wouldn't you say Bitcoin and XRP tokens have the same intrinsic value? XRP used zero mining yet the token is essentially the same sh!t.
     
  17. douver

    douver Member

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    I'd say most of a coins intrinsic value is from its mindshare and trust from its users and in the public. So bitcoin slays all other coins in this respect. BTC has most users and most people at least know of bitcoin, but a lot fewer people would be able to name any alt coins. Let alone a specific one like XRP.

    Same concept as why Facebook is worth a rediculous amount of money. But an almost identical website with hardly any users that barely anyone knows about is almost worthless.
     
  18. koss

    koss Member

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    All those examples are more like extrinsic values not intrinsic values.
     
  19. OP
    OP
    Gunna

    Gunna Member

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  20. OP
    OP
    Gunna

    Gunna Member

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