Blockchain News and Discussion

Is there a site or app that shows relative rank of a coin over time? It'd be cool if you could just enter the symbol and see a rank chart.

cryptowat.ch

Thanks. How do you see a market cap or rank chart for specific coin? CMC has a nice comparative chart for top cryptos, but not much use for alts in general.

Also check out coin fair value.

[link to www.coinfairvalue.com (secure)]

Interesting site. Fair value higher than current price on many alts. I like the listings in order of fair value market cap, putting DGB up to rank 33, for example.

Last Edited by syncro on 02/04/2020 09:14 AM

Yeah. Fair value doesn't use data from cryptocurrency exchanges, it takes its data directly from the blockchains themselves. Daily transactions, velocity, avg tx size, discounted total supply. They calculate the price that holders of the coins are selling them for using that instead of relying on exchanges. Coinmarketcap.com has a lot of skewed data. They compare coins with different supplies, but the supply of each coin was chosen randomly at its creation so that's not a fair comparison, for example.

Most people don't know this, but exchanges don't make their trades on the chains that you're buying and selling. The only real on-chain transactions happen when you send them your coins or they send you theirs. Everything else takes place in a ledger they control and update. Which means the prices you see can easily become disconnected from their true value in the market. Fair value peers through the clouds and looks at the chains themselves to determine the price in real time.

Interesting that an exchange token like BNB has such a high FV market cap when the data is from off-exchange. ? It must have large adoption in the east.

I wonder why only 72 listings there.

BNB has a lot of investors since Binance's meteoric rise to fame in 2017. Binance is the world's biggest exchange but it basically came out of nowhere and out grew all the incumbents, so a lot of people still expect big things from them.

Looks like Ledger Nano uses the same non-secure chip as the Trezor.



I'll be replacing mine with an AsicVault II when it becomes available.

[link to asicvault.io (secure)]

Here's a link to a physical "tear down" comparison between a Trezor and an AsicVault;

[link to medium.com (secure)]

They don't, they have a different secure element.

Not sure if you are intentionally spreading BS or if you are simply misinformed... But, no, Ledger does not use the same technology as Trezor, as Ledger uses key encryption.

I was misinformed. I read this in some article but didn't check it out myself.

This link describes the Ledger Nano S security features;

[link to www.ledger.com (secure)]



I'm still going to get one of those Asic Vault wallets, though.

A difference between centralized and decentralized networks.

IOTA Shuts Down Network To Investigate Loss Of Up To $1.2 Million In Trinity Wallet Hack
[link to zycrypto.com (secure)]

"IOTA has officially announced it has temporarily shut down its network as it tries to manage an attack with severe consequences. According to IOTA, the attack seemed to directly target its Trinity wallets which were launched last year. The announcement of a shutdown, however temporary, could cause an undesired level of FUD in the IOTA community."

U.S Federal Reserve official claims crypto is a ‘giant garbage dumpster’
[link to eng.ambcrypto.com (secure)]

"Kashkari, at a recent event, made waves after he said that cryptocurrencies are 'like a giant garbage dumpster,' and that they lacked the basic characteristics of any stable currency. According to the exec,

'The reason that the dollar has value is because the US government has a legal monopoly on producing the dollar. In the virtual-currency and cryptocurrency world, there are thousands of these garbage coins out there[….]and finally, the SEC is getting involved in cracking down on this.'

And while Kashkari did agree to the fact that cryptocurrencies could be useful in the future, he argued that at present, cryptocurrency is nothing but burning garbage. He also went on to refer to them as 'noise and fraud.'"

IMO. Kashkari is partially correct.

The vast majority of current cryptos ARE a dumpster fire.

However, the big ones (BTC, ETH especially) are not, and should be HODLed.

This is basically the deathknell of that coin. 3 years, no MVP without the coordinator, the blockchain was frozen a couple weeks ago, and now user loss of funds just by opening the wallet?? IOTA is an $800 mil dollar dud.

Deflationary cryptos are not good for those who want to constantly expand the money supply for perpetual war and other rackets, and hodlers are sidestepping the devaluation theft.

Exactly, which is why (((They))) are gearing-up to impose a lot more "rules and regulations" regarding the use of crypto.

Little do (((They))) know, that decentralized exchanges are unstoppable, and will soon replace all the current centralized ones.

Then, what can (((They))) control?

Yeah I bought Cel token on Switcheo which is a dex. Hadn't done that before.

Dominance by control of issuance of currency is going to fade. I think of the quote:

"Permit me to issue and control the money of a nation, and I care not who makes its laws!"

Although the source of the quote is in question, it speaks correctly.

Celsius Joins Major Cryptocurrency Firms Using Simplex’s Fiat Onramp
[link to cointelegraph.com (secure)]

"Cryptocurrency businesses worldwide are continuing to integrate fiat onramps into their operations in an effort to make it easier for customers to jump into crypto.

United Kingdom-based cryptocurrency lending startup Celsius Network has launched in-app crypto purchases via a new partnership with Simplex, according to a Feb. 18 announcement."

Be sure to shore up multi-factor authorization. This is odd. It says it was stolen from control over his Sim but I don't see what wallet/exchange from which it was stolen. Who keeps that much money so available? No 2FA/MFA? Looks like it may have been a Blockchain wallet.

Chinese citizen loses $45 million worth BTC and BCH in a Sim Swap attack
[link to coinnounce.com (secure)]

"Chinese citizen Zhoujianfu posted on Reddit that he had been a victim of a sim swap attack and lost $30 million worth BCH and $15 million worth BTC. The Chinese whale sought help from BCH miners to reverse the transactions at three confirmations."

Increase in the number of sim swap attacks

"Over the last few years, there has been an increase in such attacks. Earlier, a New York teenager was accused of stealing $1 million in cryptocurrencies via sim swapping in five months. Twitter CEO Jack Dorsey, Preety Kesireddy, and many Bitcoiners have been targets of such attacks over the last few years. Bittrex is currently facing a lawsuit from one of its clients, Gregg Bennett, who claims that Bittrex did not take proper measures to prevent the sim swap attack that cost him $1 million."

SIM Swap Scams: How to Protect Yourself
[link to www.consumer.ftc.gov (secure)]

This guy's Google account was taken control of through the Sim attack, and therefore access to his Coinbase account. I wouldn't save important login info on a phone or computer. These days with the Google syncing and everything it's easy to lose track.
The Most Expensive Lesson Of My Life: Details of SIM port hack
[link to medium.com (secure)]

Last Edited by syncro on 02/22/2020 06:55 PM

Thanks to Wyoming, The US Will Soon Have a Crypto Bank
[link to cryptobriefing.com (secure)]

The US will soon get its first crypto-native bank in the state of Wyoming thanks to the special purpose depository institution law enacted by the state’s legislature.

Wyoming to Welcome the First Regulated Crypto Bank

Wall Street veteran Caitlin Long in partnership with Blockstream, announced the introduction of 'Avanti Bank and Trust.'

This venture is a new regulated bank that aims to serve as a bridge to the US dollar payments system and a custodian of digital assets for 'BIG institutional money,' according to Long. This so-called big money includes pensions, endowments, foundations, corporations, and sovereign wealth funds.

The Wyoming-native added that Avanti was born to fill a 'critical' gap that is currently missing in the American market.

'Avanti plans to break that logjam and thereby help keep the US from falling behind other countries whose regulated banks are already serving institutions in this rapidly growing market,' said Long."

Why Didn’t Bitcoin React Like a Safe Haven Asset to Coronavirus Fears?
[link to cryptobriefing.com (secure)]

The On-Again, Off-Again Safe Haven Asset?

"Price history has demonstrated that the narrative that Bitcoin is a gold-like safe haven asset lacks the nuance to be predictive. Bitcoin has responded in line with gold and other safe haven harbors to certain events, but not others.

Commentators like Greenspan have identified that Bitcoin is attractive as a hedge asset when the risk is created by governments and poor economic policies.

While the economic impact of coronavirus could be severe, it is decoupled from the direct threat of government malfeasance or incompetence."

"Bitcoin was built as a response to a $700 billion bailout.

The Fed just did that on a Sunday."

Interesting times.

New Coronavirus Stimulus Bill In Congress Creates U.S. Digital Dollar
[link to www.forbes.com (secure)]

"Updated on 3/24/20 at 11:45 AM: The final version of the economic stimulus package offered by Speaker Pelosi the House Democrats no longer includes the U.S. Digital Dollar proposal; however, the language as proposed by Chairwoman Waters of the House Financial Services Committee still contains this language."

Last Edited by syncro on 03/24/2020 09:49 PM

Celsius Network and Chainlink Form Long Term Partnership to Create Superior Financial Platform through Decentralization
[link to www.prnewswire.com (secure)]

"Chainlink was selected by Celsius Network as the core method through which Celsius will further decentralize its operations; Celsius Network was chosen to manage a portion of Chainlink's BTC and ETH funds in its unique interest-bearing wallet."

"With the shared mission of making financial services fair, rewarding, and transparent, Celsius and Chainlink aim to disrupt the current financial infrastructure by leveraging decentralized services that serve consumers' best interests. To facilitate Celsius's very important move towards decentralization, Celsius will use and support Chainlink's Price Reference Data [link to feeds.chain.link (secure)] to calculate interest payment amounts to users in a more decentralized, transparent and highly secure approach, creating a smart contract audit trail of its lending operations. This will ensure that all Celsius interest payments are now relying on the increased security of a highly decentralized network of independent, security reviewed, and Sybil resistant Chainlink nodes."

"'We are excited to work with an industry pioneer like Celsius, backed by a highly experienced technical team of successful entrepreneurs," stated Sergey Nazarov Co-founder of Chainlink. "We are very excited about working with Celsius to quickly and efficiently achieve increased decentralization in their system, which will benefit both their overall security and their users' overall interest payment returns over the long-term.'" < 50%

Last Edited by syncro on 03/31/2020 07:54 AM

While the Fed is doing quantitative easing, dumping huge unlimited amounts of currency into the system, bitcoin with the halving approaching is doing quantitative hardening, reducing the amount of bitcoin that can be mined, doing the opposite of the Fed.

Saga coin, SGA, the stablecoin of SDR, Special Drawing Rights of the IMF, is now available in the Celsius wallet and holding it there earns interest. SDR is a money reserve currency made up of a basket of national currencies, USD, Euro, Yen, Yuan, and Pound. SGA on Celsius is currently earning 7.25% - 9.9%. At sometime in the future, Bitcoin and other assets may be added into the SGA basket. SGA not yet available in USA.