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 Bitcoin and other Cryptocurrencies, Comprehensive guide on first page.

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Enigmatic
post Jul 5 2017, 12:08 PM

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QUOTE(sirxl @ Jul 5 2017, 11:57 AM)
new BNM watchlist is out: 23 JUNE 2017

https://m.facebook.com/story.php?story_fbid...&id=83552599871

Financial Consumer Alert: List of unauthorised companies and websites has been updated.
The Bank has updated the Financial Consumer Alert list. The latest list consists of 320 companies. The following companies were added to the list:
1. Live coin Express
2. Coin Enterprise Ltd
3. Climate Protectors Sdn. Bhd.
4. Ecobit
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Interesting.

Addendum: Hmm. From a legislation POV, makes sense.

This post has been edited by Enigmatic: Jul 5 2017, 12:12 PM
Enigmatic
post Jul 5 2017, 12:34 PM

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QUOTE(sirxl @ Jul 5 2017, 12:18 PM)
BNM had another 3 interesting animals on the list - BitKingdom, ETHtrade and Dinar Dirham.

http://www.theedgemarkets.com/article/14-f...umer-alert-list
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Indeed...

In my opinion, as long as it's registered in Malaysia and involves issuing/trading of digital currencies, I think it is right for BNM to issue a consumer alert - since digital currencies are not regulated (hence no baseline for any form of authority over issuance of digital currencies).

PS: Eh the talk on 7th July got refreshment ah? Coming right after work so need to time whether to eat before or after.
Enigmatic
post Jul 5 2017, 01:05 PM

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QUOTE(sirxl @ Jul 5 2017, 12:42 PM)
so far there are no sponsors for refreshments,
do you want to sponsor?

Andreas is speaking for free since it's for the good of the community.
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I'm fine with sponsoring, though I don't know if my contacts can prepare anything for 200pax in a day lol. Will PM you. smile.gif
Enigmatic
post Jul 6 2017, 05:53 PM

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Any "continuous income" promises in a high volatility market is a sham. Even more so if there are no show of who are the hedge fund managers and their profiles.
Enigmatic
post Jul 6 2017, 06:04 PM

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QUOTE(wengherng @ Jul 6 2017, 05:59 PM)
Threads were removed already.
What was it about?
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Bitcoin ponzi scheme. Give them RM240 and they'll return you RM50k in 5 years. laugh.gif
Enigmatic
post Jul 7 2017, 07:58 PM

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wink.gif


user posted image

user posted image

A lot more people now btw.

This post has been edited by Enigmatic: Jul 7 2017, 08:00 PM
Enigmatic
post Jul 8 2017, 12:47 AM

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sirxl - great talk by Andreas, thanks for arranging this for the community and congrats bro. Looking forward to the next one.

How many of you guys were there whom I've missed? laugh.gif Was an awesome talk and the crowd was reflective of how fast we are catching up onto the cryptocurrency space, which is a surprisingly good number!

This post has been edited by Enigmatic: Jul 8 2017, 12:47 AM
Enigmatic
post Jul 12 2017, 07:38 PM

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QUOTE(archangel22 @ Jul 12 2017, 07:07 PM)
Simply increase blocksize will further centralize the network, setting bad precendent, and in no way represent values and principles of Bitcoin.
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How would big blocksize cause network centralisation?
Enigmatic
post Jul 12 2017, 08:27 PM

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Hmm.

QUOTE(archangel22 @ Jul 12 2017, 08:08 PM)
Big block means more bandwidth, bigger blockchain. I personally dont want bitcoin only run by corporate or data centers.
Pruning. Which was envisioned by Satoshi but never implemented by the Core team. EDIT: They did implement it, albeit differently, need to check.

2MB blocks won't have much problems propagating through the internet, especially with today's bandwidth, and provides a nice increase of at least 2x the throughput. On the other hand Segwit does physically increase the block size as well.


QUOTE(archangel22 @ Jul 12 2017, 08:08 PM)
The value proposition with Segwit&Uasf is that so anyone can run/fully validate txn with cheap PC as full node. Further decentralize the network. Like running Bitcoin on your cheap Android phone. The direction shld be in that way.
Could already be done without Segwit.


QUOTE(archangel22 @ Jul 12 2017, 08:08 PM)
And its not necessarily big block.
If Bitcoin started as 100MB on the genesis block then theres no problem or maybe a different problem.
My point is that the 'change' within Bitcoin. Does gold fork?
Bitcoin originally was 32MB in block size. It was scaled down to 1MB as a temporary anti-spam measure. Using gold as a benchmark also brings its fallacies along (it is hard to use gold to transact), so using that as an argument can get counterproductive.



The things Segwit deal with could be approached with simpler solutions - If a hard fork is coordinated - But I am not sure why the Core team is so against hard forks. Regardless, there are always multiple methods to solve a programming problem, and Segwit is one of them.

Good luck to whoever works on that 1.4k lines of code in the future though. tongue.gif

This post has been edited by Enigmatic: Jul 13 2017, 12:42 AM
Enigmatic
post Jul 12 2017, 10:20 PM

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QUOTE(archangel22 @ Jul 12 2017, 09:15 PM)
As far as I understand pruning is purging blockchain data. Security vs convenience.
Larger block size = larger blockchain. Pruning decreases blockchain size. Can be done with negligible impact to security as laid out by Satoshi.
One could also implement partial validating nodes as a long term goal.

QUOTE(archangel22 @ Jul 12 2017, 09:15 PM)
If I look at the same angle, then why majority of miners dont want segwit if it is indeed blocksize increase.
And by that premise, Segwit2x is not 2MB but 8MB.
I think 8MB is still very manageable - One could grab statistics of the median internet bandwidth of all miners and implement accordingly. That said I do agree a gradual increment 1 > 2 > 4 > 8MB as TPS demand increases is a better approach.


QUOTE(archangel22 @ Jul 12 2017, 09:15 PM)
Aah ya I think its ABCore for Android full node. But hey they support UASF.

Yes I agree. If a hardfork is coordinated, when it is necessary. Unfortunately, Bitmain does not want to be coordinated.

Starting to think there maybe another way. Hope to see implementation of sidechains soon.
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Well, that is the essence of decentralisation. As devs we have the responsibility to educate, encourage, and evolve - If someone believes the old chain is better, the market needs to decide that in the end. There is no real way to choose to opt out/in of soft forks without (however minor) consequences.

This post has been edited by Enigmatic: Jul 12 2017, 11:20 PM
Enigmatic
post Jul 13 2017, 08:34 AM

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QUOTE(archangel22 @ Jul 13 2017, 08:14 AM)
No. We then have different view on whats decentralization.
Its not devs responsibility only to educate, encourage, and evolve. Why shld devs bear all the burden?
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> I didn't say it was only the devs responsibility.
> Especially on the context of coding.

Core did not do enough of these three items. A solution was provided without enough educating (e.g. comparison and justification vs competing solutions). That was why it is so easy to inseminate FUD over Segwit.
Enigmatic
post Jul 22 2017, 10:20 PM

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QUOTE(jack2 @ Jul 22 2017, 08:51 PM)
Anyone here is programmer and able to write apps/program for some pricings?

We can cooperate together.

PM me if you are one of them.
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Looking for an arbitraging program? tongue.gif
Enigmatic
post Jul 23 2017, 01:12 AM

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QUOTE(jack2 @ Jul 22 2017, 10:23 PM)
Yes.. wanna join me? rclxm9.gif
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QUOTE(AllnGap @ Jul 23 2017, 12:42 AM)
luno loh
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If the exchange exposes APIs it shouldn't be too difficult to do. I don't think Luno exposes APIs though.

But don't they already have arbitraging bots on the net?

Drop me a PM with what your idea is... And I'll provide feedback and see if I could squeeze it in as a part time thing. I have a few ideas using data feeds to optimise trading pairs across different exchanges while factoring in some required variables.
Enigmatic
post Jul 25 2017, 11:32 AM

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QUOTE(axxer @ Jul 25 2017, 02:24 AM)
Has anyone seen this? Who are they? Just igniting fud?
https://www.bitcoincash.org
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Those are the guys who believes bigger blocks are the future - as it allows transactions to still be done on-chain as envisioned by Satoshi - hence asking to activate a UAHF. An altcoin at best, but does provides a choice.
Enigmatic
post Jul 25 2017, 12:50 PM

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QUOTE(blueblueoutofblue @ Jul 25 2017, 12:48 PM)
My question is
Why was Ethereum based ICO been targetted for theft ?

I don't really see hacking done with BTC ?
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Because with more real life use cases, there will be more externalities leading to more vulnerabilities.

Just like how Veritaseum does not use SSL for their website: http://veritas.veritaseum.com/

Enigmatic
post Jul 25 2017, 01:03 PM

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QUOTE(blueblueoutofblue @ Jul 25 2017, 12:57 PM)
Then why was the developer didn't try to prepare for this ? And try to prevent it ...?
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Maybe Veritaseum faced a really sophisticated attack that their devs did not anticipate. Or maybe it's an oversight.

Until more information about the hack is made public nobody can tell. But from the way the hack is being announced (no specifics, so likely an internal attack) and the construct of their website, it would appear they'd require a bump up in their technical expertise.
Enigmatic
post Jul 25 2017, 01:18 PM

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QUOTE(blueblueoutofblue @ Jul 25 2017, 01:06 PM)
I thought Developers will always check their code properly to prevent hacking ...

If it's really been internally hack then something wrong with this team already lo...
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QUOTE(Gss2k @ Jul 25 2017, 01:09 PM)
early in the year you see everyone in bitcointalk demand multiple escrows for ico and significant bonuses for investing early. if u raise $2/3 mil u champion already. thanks to erc20 tokens, now the tables have turn, everybody is joining in so the dev dont listen anymore, they do their own security and come up with creative to make sure the price after release gain as little as possible. that way they know they milk the investors to the max.  rclxms.gif
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That is why it is important to do your own due diligence on the team you are investing in, notice red flags, etc.
Enigmatic
post Jul 25 2017, 02:11 PM

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QUOTE(archangel22 @ Jul 25 2017, 02:06 PM)
You can never be sure how good is a due diligence unless youre the founder who hold the funds private key.
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Does not mean due diligence is not needed. And hence - Only invest what you are willing to lose, etc etc.

The website is a clear indicator too. I used that as a reason to not enter Veritaseum.

Enigmatic
post Jul 26 2017, 12:55 PM

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QUOTE(archangel22 @ Jul 26 2017, 09:44 AM)
(A not-really)Breaking News!

https://twitter.com/SEC_News/status/889946003725537287
[attachmentid=8990506]
[attachmentid=8990538]

https://www.sec.gov/news/press-release/2017-131

Don't worry. This is not related to Bitcoin.
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QUOTE
The SEC's Office of Investor Education and Advocacy today issued an investor bulletin educating investors about ICOs. As discussed in the Report, virtual coins or tokens may be securities and subject to the federal securities laws.


It does involve Bitcoin as Bitcoin is listed as a virtual coin in an SEC report during 2014.

From a regulatory perspective this would offer protection to consumers, which is a good thing for investors from the US. Also that now ICOs can be extended to US citizens instead of the current practice otherwise.




Look here for their 2014 perspective when they pretty much implied "we are not going to touch this".

https://www.sec.gov/oiea/investor-alerts-bu...ia_bitcoin.html

QUOTE
Investments involving Bitcoin present unique risks.
Consider these risks when evaluating investments involving Bitcoin:

Not insured.
While securities accounts at U.S. brokerage firms are often insured by the Securities Investor Protection Corporation (SIPC) and bank accounts at U.S. banks are often insured by the Federal Deposit Insurance Corporation (FDIC), bitcoins held in a digital wallet or Bitcoin exchange currently do not have similar protections.
History of volatility. The exchange rate of Bitcoin historically has been very volatile and the exchange rate of Bitcoin could drastically decline. For example, the exchange rate of Bitcoin has dropped more than 50% in a single day. Bitcoin-related investments may be affected by such volatility.
Government regulation. Bitcoins are not legal tender. Federal, state or foreign governments may restrict the use and exchange of Bitcoin.
Security concerns. Bitcoin exchanges may stop operating or permanently shut down due to fraud, technical glitches, hackers or malware. Bitcoins also may be stolen by hackers.
New and developing. As a recent invention, Bitcoin does not have an established track record of credibility and trust. Bitcoin and other virtual currencies are evolving.


That is why having governments recognising "hey, this piece of technology enables something of a new paradigm, but also provides a risk to our people, so we should keep an eye out" is not necessarily a bad thing, especially for adoption.

This post has been edited by Enigmatic: Jul 31 2017, 05:13 PM
Enigmatic
post Jul 26 2017, 02:48 PM

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