one of the few who still reads these?
I don't have to be PC so let me just say it how it is: Young naive writer https://twitter.com/AlyssaHertig gets handed narrative by the paper. Writes some stupid shit, gets paid by VC indirectly for protecting the portfolio (because IOTA is a threat to the entire portfolio). Slap a graphic on top of it. Done.
I agree that there is no "grand conspiracy" to damage the IF. It's regular business for coindesk at this point. https://www.coindesk.com/iota-2-7-billion-cryptocurrency-developers-love-hate/
Attacking IOTA on a scientific level ended with self inflicted academic fraud (allegedly), exposing bad actors and destroyed reputations, while educating the IOTA community about the protocol itself. If the media didn't spin the DCI/IOTA incident, it would have been an absolute PR bloodbath for DCI. The new angle is: hurt the IF by making it look like a toxic environment for developers.
That's why month old screenshots are being digged out. This is FUD with surgical precision because developers engaging with the IOTA protocol is one of the more underrated but really fucking important factors.
Thanks to the first steps in making the IF more transparent however, we now know over that 1300+ developers/creators are part of the Ecosystem. https://ecosystem.iota.org Yes, you should boycott Coindesk. No, it's not childish. You should generally avoid all bad press as it's a waste of time.
If the first newspaper you’ve read was on an iPad you might not know this: Serious newspapers label articles, in which the writer states his/her opinion on the topic he/she is reporting on, AS SUCH.
Those are often referred to as “Opinion Pieces” or a “Comment”. However... Most crypto news sites are simply a vehicle to push undisclosed native advertisement https://en.wikipedia.org/wiki/Native_advertising [Native advertising is a type of advertising, mostly online, that matches the form and function of the platform upon which it appears.]
... [a clear disclosure is deemed necessary when employing native marketing strategy in order to protect the consumer from being deceived]
... [According to Federal Trade Commission, means of disclosure include visual cues, labels, and other techniques.]
here is a good example of a native advertisement: https://www.coindesk.com/circle-adds-zcash-crypto-investment-app/
If a news outlet is NOT even labeling opinion pieces as such - it’s not worth your time. It will add more confusion than clarity. Because that’s what it’s designed to do.
Let's see if we can spot the difference between professional and fraud:
see how finder.com.au is very clear about everything? Opinion and disclosure? TNW not so much...
ok, let's never talk about this again! Let's finally move on.
We should stay healthy skeptics towards corporate adoption. Friendly reminder the IF exists mainly to push back on corporate agendas.
For all we know, some just do it for the extra likes on twitter because of a #IOTA hashtag. Rarely do corporate SM accounts enjoy this kind of attention.
If you think i'm being anti-corporate libtardish, consider this: Industry 4.0 needs IOTA more than IOTA needs them. https://twitter.com/Schuldensuehnestatus/989738856298659841
Not only to stay competitive but also to not get hacked and shut down by “insert country”. Bosch, Fujitsu and DXC are maybe the first to realize this. SO PLEASE stop begging on social media and tweeting at Elon Musk about IOTA. It’s not a good look.
that being said: Institutional money and regulation is the hot topic right now.
And most likely will be during 2018. BTC Futures showed a recent spike in Volume hinting at smart money flowing in: https://twitter.com/CryptoKinky/status/989569263383011328
(dont judge me for my resources i cant afford nice looking charts)
There are several news articles about WS traders moving to crypto and so on. Looks like things are starting to get rolling in the institutional world, as infrastructure is being set up.
Contrary to popular tinfoilery belief (aka. "The Cartel" Medium Article, that all of Bitcoin is 100% manipulated already based on future contracts)
, futures had relatively small volume compared to the global btc volume - most likely not important enough to justify manipulation of the entire market. https://bitcoinaverage.com/en/bitcoin-price/btc-to-usd
Even the SEC Chairman Jay Clayton stated that futures market is "quite small" in his public statement before the february hearing: https://www.cftc.gov/PressRoom/SpeechesTestimony/opagiancarlo37 It is important to put the new Bitcoin futures market in perspective. It is quite small with open interest at the CME of 6,695 bitcoin14 and at Cboe Futures Exchange (Cboe) of 5,569 bitcoin (as of Feb. 2, 2018). At a price of approximately $7,700 per Bitcoin,15 this represents a notional amount of about $94 million.
If you believe in a paradigm shift, this means we are still early.
Recent regulatory voices and twitter drama led to this piece by https://coincenter.org/entry/no-ether-is-not-a-security
Why is this important? Companies in the US most likely are patient about making an investment into any crypto token as there is regulatory uncertainty.
DXC TECHNOLOGY COMPANY, showcased a PoC with IOTA. At Q4 in december, DXC has stated
: 213 Million in Net cash provided by (used in) investing activities. https://www.sec.gov/Archives/edgadata/1688568/000168856818000007/dxc1231201710-q.htm
Just some food for thought:
If you are already spending opportunity cost on IOTA, why wouldn't you leverage that with the token. Bosch invested into the token as well, most likely because there is more regulatory certainty in germany. Fujitsu wants to roll out IOTA as an industry standard (as it seems). This is not your regular Shitcoin. There is a reason dumb money is called dumb.
Last time i check Verge had 10x the volume on binance compared to IOTA.
There are no fundamentals yet in evaluation, it’s purely speculative - but with more institutions moving into the space this might change. As such, CCs with industrial use could likely see a reevaluation. But, looking in from the outside, there seem to be some hurdles.
this twitter account is one of the more resourceful ones, he lets out some numbers to boost his SM traction (god bless him) https://twitter.com/joel_john95
as outsiders, this will be an extremely helpful resource. He tweeted out a quarterly report https://medium.com/outlier-ventures-io/state-of-blockchains-q1-2018-1efe284572c1
he writes: Over $1.8 billion has been invested into firms working with the blockchain ecosystem through corporate venture capital to date.
That’s not that much. Is it. For the entire ecosystem? Friendly reminder snapchat, after a 20% fall, is a 15 billion company. Just to get some perspective.
Especially if you consider the crypto market is still in the hands of leveraged daytraders on bitmex and whales, who got big stacks in a coin early on.
Imagine you want to invest 3M into IOTA as a CVC, you would’t spin up Binance and hit marketorder. You contact the IF and see if you can buy some, or outlier ventures might want to part with some, or even the founders i imagine hold quite a substantial amount.
I often see people asking for more exchanges - that's kinda missing the point. What you want at this point is more institutional interest. That's the kind of demand we want. Thats what you would call "organic growth" i guess.
Ripple holders, thinking a coinbase listening would make XRP go to $10, fail understand that Ripple itself holds a substantial amount of tokens where VCs can go and buy in bulk. And that’s why XRP is such a Shitcoin in the first place.
Cool thing about open ledgers is that you can look at them. Go figure. https://arewedecentralizedyet.com/
Ripple and XLM look extremely bad with over 90% of coins held in the top 100 addresses (shitcoins confirmed). TRX and EOS don’t even have a mainnet yet to really track it - so you can imagine the numbers are likely shit too. ADA is looking way better than IOTA in terms of wealth distribution. But 60% for whales, IF and Founders is probably better than what most projects can show for.
Thing is, the small guys got in on crypto first. Not the banks, not a selected silicon valley investor boisclub either. While this is good for us, it's a nightmare for investment banks and such.
JPMorgan admitted that in their “BTC Bible” saying: Ownership is highly concentrated. The opportunity set around direct CC trading appears relatively limited for banks
(Think about that for a second.)
CVC investing into the token could be, in my speculative opinion, the most likely catalyst for the price of IOTA, as its industrial adoption can build a synergy for entire sectors. As the main argument for Bitcoin is price uncorrelation to legacy assets, IOTA might be an interesting pick for the smart money, as it could be one of the few CCs with actual fundamental impact on different industry sectors. Something Blockchain, after 10 years, has failed to do.
Let me summarize because i was a bit all over the place. Things i will look for going forward:
- Institutional infrastructure is being built as we speak as regulations get more clear
- 2018 might see the highest investments into the blockchain ecosphere
- Financial talent from legacy market is switching to crypto
- Retail investors are the early adopters, not exclusive silicon valley boiclubs
- Liquidity is really bad, its hard to buy a lot of crypto for institutions
- The real FOMO and bubble might come with the “smart” money
- IF addressing wealth distribution and being more transparent
(i do not have a finance background as you can see and i write these to offer some interesting links and resources you might find useful in your own research.)
Note: New Reddit look may not highlight links. See old look here. A copy is hosted on GitHub for better reading experience. Check it out, contains photo of the month! Also on Medium submitted by
dcrd: Significant optimization
in signature hash calculation, bloom filters support was removed
, 2x faster startup thanks to in-memory full block index
, multipeer work advancing
, stronger protection
against majority hashpower attacks. Additionally, code refactoring and cleanup, code and test infrastructure improvements.
In dcrd and dcrwallet developers have been experimenting
with new modular dependency and versioning schemes using vgo. @orthomind is seeking feedback for his work on reproducible builds
Decrediton: 1.2.1 bugfix release
, work on SPV has started
, chart additions are in progress. Further simplification of the staking process is in the pipeline (slack
Politeia: new command line tool
to interact with Politeia API, general development is ongoing. Help with testing will soon be welcome: this issue
sets out a test plan, join #politeia
to follow progress and participate in testing.
dcrdata: work ongoing on improved design
, adding more charts
and improving Insight API support.
Android: design work advancing
Decred's own DNS seeder (dcrseeder
) was released
. It is written in Go and it properly supports service bit filtering, which will allow SPV nodes to find full nodes that support compact filters.
Ticket splitting service by @matheusd entered
beta and demonstrated
an 11-way split on mainnet. Help with testing is much appreciated, please join #ticket_splitting
to participate in splits, but check this doc
to learn about the risks. Reddit discussion here
Trezor support is expected
to land in their next firmware update
Decred is now supported
by Riemann, a toolbox from James Prestwich to construct transactions for many UTXO-based chains from human-readable strings.
Atomic swap with Ethereum on testnet was demonstrated
at Blockspot Conference LATAM.
Two new faces were added
Dev activity stats for May: 238 active PRs, 195 master commits, 32,831 added and 22,280 deleted lines spread across 8 repositories. Contributions came from 4-10 developers per repository. (chart
Hashrate: rapid growth from ~4,000 TH/s at the beginning of the month to ~15,000 at the end with new all time high of 17,949. Interesting dynamic in hashrate distribution
across mining pools: coinmine.pl share went down from 55% to 25% while F2Pool up from 2% to 44%. [Note: as of June 6, the hashrate continues to rise and has already passed 22,000 TH/s]
Staking: 30-day average ticket price is 91.3 DCR (+0.8), stake participation is 46.9% (+0.8%) with 3.68 million DCR locked (+0.15). Min price was 85.56. On May 11 ticket price surged to 96.99, staying elevated for longer than usual after such a pump. Locked DCR peaked at 47.17%. jet_user on reddit suggested
that the DCR for these tickets likely came from a miner with significant hashrate.
Nodes: there are 226 public listening and 405 normal nodes per dcred.eu
. Version distribution: 45% on v1.2.0 (up from 24% last month), 39% on v1.1.2, 15% on v1.1.0 and 1% running outdaded versions.
Obelisk team posted
an update. Current hashrate estimate of DCR1 is 1200 GH/s at 500 W and may still change. The chips came back at 40% the speed of the simulated results, it is still unknown why. Batch 1 units may get delayed 1-2 weeks past June 30. See discussions on decred
and on siacoin
that 7940 DCR1 units were sold in Batches 1-5, while Lynmar13 shared
his projections of DCR1 profitability (reddit
A new Chinese miner for pre-order was noticed by our Telegram group. Woodpecker WB2 specs 1.5 TH/s at 1200 W, costs 15,000 CNY (~2,340 USD) and the initial 150 units are expected to ship on Aug 15. (pow8.com
Another new miner is iBelink DSM6T: 6 TH/s at 2100 W costing $6,300 (ibelink.co
). Shipping starts from June 5. Some concerns and links were posted in these two threads
A new mining pool is available
. It uses PPLNS model and takes 1% fee.
Another infrastructure addition is tokensmart.io
, a newly audited stake pool with 0.8% fee. There are a total of 14 stake pools
- Upbit added DCKRW and DCUSDT pairs. A user reported that DCR deposits and withdrawals are now available.
- CoinEx announced the launch of DCBTC and DCBCH pairs.
- Bleutrade added DCUSDT pair. Note their reply to our tweet. It was the first exchange to list Decred minutes after launch.
- Brazilian exchange OmniTrade added DCBRL fiat pair following a poll. Worth noting that it is one of the first to integrate Trezor sign-in.
- Bittrex added DCUSDT pair. Withdrawal fee was lowered to 0.01 DCR per user's report.
- Cryptopia enabled DCUSDT pair too.
- There are reports that DCR was added to Abucoins and Tor Exchange but we don't know much about them.
an update that allows one to trade cryptocurrencies, including
@i2Rav from i2trading
is now offering two sided OTC market liquidity on DCUSD in #trading
, payments solution for point of sale and e-commerce, integrated
Decred. (missed in April issue)
CoinPayments, a payment processor supporting Decred, developed
an integration with @Shopify
that allows connected merchants to accept cryptocurrencies in exchange for goods.
An update from VotoLegal:
michae2xl: Voto Legal: CEO Thiago Rondon of Appcívico, has already been contacted by 800 politicians and negotiations have started with four pre-candidates for the presidency (slack, source tweet)
Blockfolio rolled out Signal Beta with Decred in the list
. Users who own or watch a coin will automatically receive updates pushed by project teams. Nice to see this Journal made it to the screenshot!
Placeholder Ventures announced
that Decred is their first
public investment. Their Investment Thesis
is a clear and well researched overview of Decred. Among other great points it noted the less obvious benefit of not doing an ICO:
By choosing not to pre-sell coins to speculators, the financial rewards from Decred’s growth most favor those who work for the network.
Alex Evans, a cryptoeconomics researcher who recently joined Placeholder, posted
his 13-page Decred Network Analysis
March–April survey results (pdf
). It analyzes 166 responses and has lots of interesting data. Just an example:
"I own DECRED because I saw a YouTube video with DECRED Jesus and after seeing it I was sold."
May targeted advertising report released
. Reach @timhebel for full version.
More creative promos by @jackliv3r: Contributing
, Stake Now
, The Splitting
, Forbidden Exchange
, Atomic Swaps
Reminder: Stakey has his own Twitter account
where he tweets about his antics and pours scorn on the holders of expired tickets.
"Autonomy" coin sculpture is available
in Sao Paulo, Brazil. Jake Yocom-Piatt presented "Decentralized Central Banking". Note the mini stakey on one of the photos. (article
, photos: 1 2 album
) Wicked Crypto Meetup
in Warsaw, Poland. (video
, photos: 1 2
) Decred Polska Meetup
in Katowice, Poland. First known Decred Cake. (photos: 1 2
) Austin Hispanic Hackers Meetup
in Austin, USA. Consensus 2018
in New York, USA. See videos in the Media section. Select photos: booth
, moon boots
, giant stakey
. Many other photos and mentions were posted
on Twitter. One tweet summarized Decred pretty well:
One project that stands out at #Consensus2018 is @decredproject. Not annoying. Real tech. Humble team. #BUIDL is strong with them. (@PallerJohn) Token Summit
in New York, USA. @cburniske
from Placeholder talked "Governance and Cryptoeconomics" and spoke highly of Decred. (twitter coverage: 1 2
(from 32 min)) Campus Party
in Bahia, Brazil. João Ferreira aka @girino and Gabriel @Rhama were introducing Decred, talking about governance and teaching to perform atomic swaps. (photos
Decred was introduced
to the delegates from Shanghai's Caohejing Hi-Tech Park, organized by @ybfventures
Second Decred meetup in Hangzhou, China. (photos
) Madison Blockchain
in Madison, USA. "Lots of in-depth questions. The Q&A lasted longer than the presentation!". (photo
) Blockspot Conference Latam
in Sao Paulo, Brazil. (photos: 1
- Decred Australia Meetup in Melbourne, Australia on June 12. Organized by YBF Ventures, all backgrounds are welcome.
- Brazil: meetup in Brasilia on June 13, meetup in Belo Horizonte on June 16 and Campus Party Brasilia on June 27.
- O'Reilly Open Source Convention in Portland, USA on July 18-19. Unlike many "regular" events this one is developer focused. @raedah's team will attend.
- If you are interested in Decred event in San Francisco Bay Area please check this thread.
There is a community initiative by @vj to organize information related to events in a repository
. Jump in #event_planning
channel to contribute.
Decred scored B (top 3) in Weiss Ratings
and A- (top 8) in Darpal Rating
Chinese institute is developing
another rating system for blockchains. First round included
). Upon release
Decred ranked 26. For context, Bitcoin ranked 13.
- Team Spotlight: Decred, Pedal Steel Guitar, and Thoughts on Bitcoin From an Exodus Developer (medium.com, missed in April issue)
- Decred: A Cryptocurrency That Combines PoW, PoS (investopedia.com, translated to Spanish and Russian)
- Decred Price Booms on Consensus 2018 Publicity (cryptovest.com)
- Decred Leads By Example With Fair Governance (cryptodaily.co.uk)
- Graph showing your ticket's chance to vote on any given day (twitter)
- Decred: More Steps to Fame, as Price Shoots Above $110 (cryptovest.com)
- Sole Survivor: Decred Unaffected in Latest Market Downturn (cryptovest.com)
- Placeholder VC Puts Money on Decred to Rival Bitcoin (btcmanager.com)
- Decred Is The Most Undervalued Cryptocurrency With A 15% Dividend-Like Yield, Possibly The Next Bitcoin (seekingalpha.com)
- Decred Coin News: What makes Decred coin price to go over $100? (theoofy.com)
- Asian Cryptocurrency Trading Update: Only Decred Showing a Gain (newsbtc.com)
- Why Decred? Let the community tell you! by Noah Pierau (medium.com)
- A post by @DecredKing arguing being first in crypto is not enough (medium.com)
- Why Decred is the new Bitcoin (globalcoinreport.com)
- The Long-Term Bullish Case for Decred by Ben Davidow (medium.com)
- Hardware Companies Are Launching Dedicated ASIC Miners for Decred (btcmanager.com)
- Iterative Capital partner Chris Dannen and journalist Ben Schiller speak with Marco and Jonathan from Decred at Consensus 2018 (soundcloud)
- Decred Review: What is DCR, the Decred Community & Possible Challenges by BitBoy Crypto (youtube)
- Decred Founder: Bitcoin Paved Way, Phase 2 Will Shock You! (Marco Peereboom) by Pure Blockchain Wealth (youtube)
- Decred & Blocknet: Revolutionary governance for every community feat. JZ at Consensus 2018 (youtube)
- Decred coin - Will it be better than Bitcoin? by Bitassist (youtube)
Community stats: Twitter 39,118 (+742), Reddit 8,167 (+277), Slack 5,658 (+160). Difference is between May 5 and May 31.
Reddit highlights: transparent up/down voting
on Politeia, combining
LN and atomic swaps, minimum viable superorganism
, the controversial debate
on Decred contractor model (people wondered
about true motives behind the thread), tx size and fees discussion
, hard moderation case
of ASICs on price, another "Why Decred?" thread
with another excellent pitch by solar, fee analysis
showing how ticket price algorithm change was controversial with ~100x cut in miner profits, impact
of ticket splitting on ticket price, recommendations
on promoting Decred, security against double spends
and custom voting policies.
@R3VoLuT1OneR posted a preview of a proposal
from his company for Decred to offer scholarships for students. dcrtrader
gained a couple of new moderators, weekly automatic threads were reconfigured to monthly and empty threads were removed. Currently most trading talk happens on #trading and some leaks to decred
. A separate trading sub offers some advantages: unlimited trading talk, broad range of allowed topics, free speech and transparent moderation, in addition to standard reddit threaded discussion, permanent history and search.
Forum: potential social attacks
Slack: the #governance
channel created last month has seen many intelligent conversations on topics including: finite attention of decision makers, why stakeholders can
make good decisions (opposed to a common narrative than only developers are capable of making good decisions), proposal funding and contractor pre-qualification, Cardano and Dash treasuries, quadratic voting, equality of outcome vs equality of opportunity, and much more.
One particularly important issue being discussed is the growing number of posts arguing that on-chain governance and coin voting is bad. Just a few examples from Twitter: Decred is solving an imagined problem
by @jm_buirski), we convince
ourselves that we need governance and ticket price algo vote was not controversial, on-chain governance hurts
node operators and it is too early
for it, it robs
node operators of their role, crypto risks being captured
by the wealthy, it is a huge threat
to the whole public blockchain space, coin holders should not
own the blockchain.
Some responses were posted here
on Twitter, as well as this article
by Noah Pierau.
The month of May has seen Decred earn some much deserved attention in the markets. DCR started the month around 0.009 BTC and finished around 0.0125 with interim high of 0.0165 on Bittrex. In USD terms it started around $81 and finished around $92, temporarily rising to $118. During a period in which most altcoins suffered, Decred has performed well; rising from rank #45 to #30 on Coinmarketcap.
The addition of a much awaited KRW pair on Upbit saw the price briefly double on some exchanges. This pair opens up direct DCR to fiat trading in one of the largest cryptocurrency markets in the world.
An update from @i2Rav:
We have begun trading DCR in large volume daily. The interest around DCR has really started to grow in terms of OTC quote requests. More and more customers are asking about trading it.
Like in previous month, Decred scores high by "% down from ATH" indicator being #2 on onchainfx
as of June 6.
David Vorick (@taek) published
lots of insights into the world of ASIC manufacturing (reddit
). Bitmain replied
an ASIC for Equihash (archived
), an algorithm thought
to be somewhat ASIC-resistant 2 years ago. Three pure PoW coins
this month, one attempting to be ASIC resistant. This shows the importance of Decred's PoS layer that exerts control over miners and allows Decred to welcome ASIC miners for more PoW security without sacrificing sovereignty to them.
Upbit was raided
over suspected fraud and put under investigation. Following news reported
no illicit activity was found and suggested
and raid was premature and damaged trust in local exchanges.
Circle, the new owner of Poloniex, announced
a USD-backed stablecoin and Bitmain partnership. The plan is to make USDC available as a primary market on Poloniex. More details in the FAQ
lower trading fees.
to offer USD trading pairs.
@sumiflow made good progress on correcting Decred market cap on several sites:
speaking of market cap, I got it corrected on coingecko, cryptocompare, and worldcoinindex onchainfx, livecoinwatch, and cryptoindex.co said they would update it about a month ago but haven't yet I messaged coinlib.io today but haven't got a response yet coinmarketcap refused to correct it until they can verify certain funds have moved from dev wallets which is most likely forever unknowable (slack)
About This Issue
Some source links point to Slack messages. Although Slack hides history older than ~5 days, you can read individual messages if you paste the message link into chat with yourself. Digging the full conversation is hard but possible. The history of all channels bridged to Matrix is saved in Matrix. Therefore it is possible to dig history in Matrix if you know the timestamp of the first message. Slack links encode the timestamp: https://decred.slack.com/archives/C5H9Z63AA/p1525528370000062 => 1525528370 => 2018-05-05 13:52:50.
Most information from third parties is relayed directly from source after a minimal sanity check. The authors of Decred Journal have no ability to verify all claims. Please beware of scams and do your own research.
Your feedback is precious. You can post on GitHub
, comment on Reddit or message us in #writers_room
Credits (Slack names, alphabetical order): bee, Richard-Red, snr01 and solar.
ATMChain Protocol development update submitted by
Github open source community created at: https://github.com/ATMChain
Twitter account for developers created at: https://twitter.com/ATMChainDev
ATM token smart contract source code uploaded to github Implementation requirement on multi-party value distribution discussed with DECENT
Discussion on monthly plan of ATM protocol layer development
Implementation on ATM smart contract automation test platform
Review of ATM smart contract automation test platform ATM smart contract automation test source code uploaded to github
Technical discussion with ATM Swiss community
Design of ATM micropayment solution
Design of ATM media file distribution solution
ATM monthly vesting execution and data check
Assessment and brainstorming on Raiden Network development status
Discussion on ATMChain explorer development plan
Integration of micro-Raiden to ATMChain
Technical preparation for listing ATM on exchanges
Design of ATM media file distribution solution
Study on smart contract built on plasma platform
Integration of micro-Raiden to ATMChain
Finish integration of micro-Raiden to ATMChain
Assessment on micro-Raiden test data and future limitations
Forecast on ATM evolution roadmap:
Mid-term, interoperability with service chain and token chain Long term, new media economy based on multi-chain interconnection and unified ATM cryptocurrency
Top down architecture design and key technology research of ATM long term roadmap Enterprise application development update
CunChain project team received the customer visit of D-SHORE Information technology CO.,LTD. About the demand of agricultural products traceability, CunChain team provided the technology solution based on CunChain Proof of existence platform and IOT technology.
The CunChain project team output the 《Construction scheme of rural comprehensive property rights trading platform in Shunyi District”》document.
On the basis of the CunChain PoE platform, through the smart contract, it supports the transaction into the blockchain ,traceability, non tampering, document PoE and other requirements of the land rights trading platform.
The function list of CunChain’s new iteration which is called “Gemini” is completed, as the input of the Gemini iteration ,it will support fabric block chain, support the state cipher algorithms and provide better user experience.
Complete the internal review and finalization of the document 《Construction scheme of rural comprehensive property rights trading platform in Shunyi District》.
The document will beused for the project negotiations.
Swiss Telecom medicine traceability needs and solutions discussion.The demand will be developed based on the CunChain PoE platform.The CunChain project team began to analyzhe the demand and output the scheme.
The key technical points of 《Construction scheme of rural comprehensive property rights trading platform in Shunyi District》 are detailed analysis, and we plan to develope a demo version, both as a project pre research, and easy to follow similar block chain based certificat transaction circulation project’s effect display and exchange.
October 18th 《Swiss Telecom medicine traceability scheme》’s refinement and output, Sorting out specific Use Cases,as well as the key business processes, after internal review, it will be used for the scheme communication with Swiss Telecom customes.
Begin to translate the 《Swiss Telecom medicine traceability scheme》doc to English to prepare for the visit and communication of Swiss Telecom clients.
About 《Swiss Telecom medicine traceability scheme》, we discussed the scope of the prototype, the prototype design and the project plan. We planed to develop one demo program next week for the Swiss Telecom client to visit to ensure the communication effect.
We start the Medicine traceability Demo project.
For the Medicine traceability Demo project, we finished the development of Scan Code and the UI design of PC client and Mobile.
For the Medicine traceability Demo project, we finish the code of PC client、 mobile、backend、blockchain。
For the Medicine traceability Demo project, we started to do the integrated test.
1.The function list and project plan of the CunChain’s new iteration “Gemini” are finished, we will start it on November 1st.
2.For the Medicine traceability Demo project, we continued to do the integrated test and bug fix.
We finished the integrated test and bug fix of the Medicine traceability Demo project.The demo functions are complete and available which can demonstrathe scan code of the medicine’s delivery, storage, sale,traceability record information into the block chain,mobile phone scnanning code tracing source, tracing medicine circulation records, etc.. ATMChain Global operation update
The ATMChain Foundation has been involved in a large number of activities and project resources docking in the past October.
First two weeks(Oct.1-Oct.13)
This month with the international community of Norway, Japan, Malaysia, Britain and other countries of the community leaders from time to time to determine the possible docking in November summit. It is now clear that in mid-November we will attend the Norwegian Innovation Week Summit and the UK Local Leaders Summit. Specific schedule negotiations, please keep an eye on ATMChain official website and various international community social tools.
Middle of Month(Oct.14-20) The ATMChain Foundation has been involved in a large number of activities and project resources docking in the past October.
we are pleased to announce that this month, the ATMChain community was invited to the China-France Electric Merchants Summit, at the summit ATMChain chairman Usama conducted a speech on the theme of ATMChain. Usama also improved understanding of ATMChain in the French community and docked the electricity industry application of the relevant resources landing.
Rest of Month(Oct.21-31) Swiss Telecom, a key partner in the Swiss community, ATMChain has done a lot of programs and technical docking which provided a solid foundation for both of us following collaboration. We believe that we could trigger more sparks next month.
Technical strategy partner Decent also done a lot of docking work this month, especially in the introduction of the latest public chain version of ATMChain consider the cooperation of the docking program. We are looking forward to this matter at the next Decent meeting.
Finally, thanks to all the support of ATMChain enthusiasts around the world, you are our biggest driving force. ATMChain The Exchange update
With the help of the European community, the Nordic community, the Asian community and the Korean community and the relevant person in charge, the number of ATMs currently listing is now more than ten which surpassed our expectations this month. The following is the specific situation of the ATM list exchange.
1.RFinex (community partner exchange) RFinex is the digital currency exchange that our partner RFintech introduced. We are very pleased in the ATMChain which has its own strength to build our ATMChain ecology with our partners .Indispensable part of the exchange. According to the ecological panorama of the intellectual chain, we can see that the economic model put forward by the exchange in the intellectual chain plays a vital role, Thanks to our Swiss partner RFintech for providing such an important build, thank them.
2.HitBTC (the top 6 in the global exchange)
We are delighted that HitBTC, as one of our very important partner which has a full range of cooperation as the Nordic First Digital Currency Exchange, both in terms of transaction support, currency issuance, information sharing and community building. Thanks to the world's leading exchange HitBTC as our trading partners to join the intellectual chain chain ecology, but also thanks to the Christian chain of the Nordic community to make contributions.
3.EYA LABS (Community Partner Exchange) EYA LABS as a well-known Korean digital exchange was promoted by our South Korean community leaders Mr. Cui who have the Korean community fans . Cui also push the collaborate with EYA LABS of South Korea's well-known digital currency exchange further.
There is no rose-like gorgeous modifier but honest and frank and constantly enrich and develop, and now the most perfect posture in Korea to gorgeous flags.
EYA LABS In the Korean community's ATMChain would make a great contribution in three years. Thanks to the fan of ATMChain Korean community communities.
4.LiveCoin (the top 30 of the global exchange)
Livecoin is a modern encrypted currency trading platform that provides you with a comfortable, practical and profitable encrypted currency trading platform. The exchange is the ATMChain European communities via the introduction, after a brief communication, in understanding the strong global ATMChain ,LiveCoin decided to the fastest on listing ATM. For the ATMChain Eastern European community, the Russian community enthusiasts , Livecoin provided a convenient and convenient trading channel and also could create the core of the global economic environment to lay a solid foundation. Thank you for the ATMChain Eastern European communities for bring well-known channels, thank you.
- Yobit (the top 20 of the global exchange)
Yobit as a well-known platform to exchange encrypted currency platform, Yobit.net in the market play a role in the collection of market participants. Its as the world's top 20 heat to Russia, India, French ATMChain community enthusiasts to make a positive recommendation. The ATMChain responded positively to the community's voice, and finally succeeded in communicating and listing on Yobit. Thanks to the ATMChain European and South Asian communities for your good advice and suggestions.
6.Etherdelta (the top 30 of the global exchange)
As the well-known to the Center Square to the central exchange, whether it is Twitter or facebook have a lot of ATMChain community enthusiasts to do a positive recommendation. The ATMChain Foundation has responded to these voices with the fastest speed to list ATM. At the same time, the Etherdelta exchange is also popular with community enthusiasts, so far contributed a lot of trading volume. thank you.
7.RBEX (Community Partner Exchange)
Recol Bitcoin Exchange, as part of the R fintech Group, its OTC trading offers more trading options. Thanks the RFintech Group again for providing projects and technical.
8.Mercatox(the top 80 in the global exchange)
Our partner mercatox would like to present universal market platform mercatox.com. It is a unique creation in the world of digital money, based on multi-language platform. It combines automated trading, payment service, Peer-to-Peer sharing based on "smart contracts" and many other features. We are planning to provide not just a service with different abilities, but create a new financial market in the digital world.We are happy to collaborate with Mercatox for ATM/ETH, ATM/BTC trade.
9.DECENTREX(the top 100 in the global exchange)
Decentralized exchange for Tokens and Ethereum cryptocurrency. Open source, based on public Ethereum smart contract, with no registration, no limits and no barriers. Decentralized P2P blockchain trading right in your browser, on any OS and device. ATMChain is happy to collaborate with DWCENTREX for listing ATM.
10.Openledger (the top 100 in the global exchange)
Thanks to Belarusian community enthusiast Yukhniuk who helped us contact Openledger.info and was very active in promoting the process of our ATM listing. Thanks for her free time on weekends.We believe that Openledger will be able to help the Eastern European community and even the world of intellectual media chain ATM enthusiasts. Thanks to Yukhniuk.
11.C-CEX (the top 60 in the global exchange) C-CEX exchange has an active community who share tips and information in our chat box. After ATMChain enthusiasts recommended , we had contacted C-CEX with their help and reached a consensus on listing ATM. After the end of the coin listing queue ,will be list ATM. Hope that C-CEX can bring more supporters and strength to our global ecological construction.
The above ten exchange that the Foundation had now cooperated and list ATM. After communicating with the above exchange partners, we decided to open a lot of transactions that had already been supported on Sunday. Before that the Foundation will launch a staff to test the tokens trading for ensuring that ATMChain community enthusiasts in a safe and fast trading environment for ATM transactions. In addition, ATMChain will continue to follow the recommendations and recommendations of community enthusiasts, in November and December to seek the world's relatively well-known exchanges to continue list on ATM. Ultimately, further improve the mobility of the entire ATMChain ecology. ATMChain 58wallet development update
For the 1.0.0 version, we fixed some bugs, UI adjustment, optimize the user experience.
The technical details of the Bitcoin system are analyzed
Sort out the micro-service architecture, clear the service function boundaries.
Release 1.1.0 version, add English language support, and fix some BUG.
The technical details of Zcash and other systems are analyzed.
Design the new architecture solution for the solution
Study the issue of bitcoin hard fork, identify the risk range.
Finishing BTC wallet flow chart, timing diagram.
The next stage of demand feasibility analysis.
New version of mobile infrastructure discussion.
Bitcoin wallet technology program confirmation.
We improved our system to analysis the transaction called from a contract. And we can discover new assets automatically now.
determine mobile-side infrastructure solution, write documents.
Fit the new UI style.
Message push technical program confirmation Litecoin, Ripple, Monero and other currency technology research
BTC wallet creation, import, export and other functions
Tokens automatic discovery APIs.
Mobile-side integrated message push function.
Zcash, Litecoin and other currency technology research
BTC wallet transfer, transaction history and other functions.
The back-end system extracts a unified business model for different tokens systems and uses this to extend more tokens. ATMChain Application development update
ATMChain POC practice summarization and development discussion.
ATMChain POC practice report.
ATMChain POC performance improvement discussion.
ATMChain POC practice product data analyze.
ATMChain area hotspot framework discussion.
Discussion with DECENT team.
ATMChain VOD solution drafting and oversea product discussion.
ATMChain performance improvement discussion.
ATMChain separated chain and business solution discussion.
Business solution with Zhongke discussion.
ATMChain performance improvement.
ATMChain Japan community communication.
ATMChain performance improvement.
ATMChain Ad solution draft.
ATMChain performance improvement and multi-language solution
ATMChain Ad solution draft and English translation.
ATMChain performance improvement and multi-language solution.
ATMChain Ad solution internal discussion.
ATMChain Japan Community communication.
Swisscom cooperation info discussion.
ATMChain performance improvement and multi-language solution
Swisscom Itinerary discussion.
ATMChain Japan Community solution discussion.
Telecom solution designation.
ATMChain performance improvement and multi-language Solution.
ATMChain Japan Community solution discussion.
Telecom solution designation.
ATMChain performance improvement and multi-language Solution.
ATMChain domestic ad union proposal discussion.
Performance & architecture improvement.
Siwsscom visit material preparation.
Telecom solution designation.
Telecom solution designation.
Business practice research.
Telecom solution designation.
Business practice research.
Blockchain camp in Tokyo discussion.
Business practice research.
Blockchain camp in Tokyo apply discussion.
Blockchain camp in Tokyo document preparation.
Kickoff meeting with Zhongke Solution.
Technical discussion with Zhongke.
patrick dugan: Interview with Jamie Redman at Bitcoin.com thomas hartman: nice interview. from the transcript: “Personal speculation convinces me that If we have 100 million decentralized dollars backed by OMNIs, then the price of OMNI could be around 100M/580k= $172.41,” thomas hartman: seems moon juicy to me though… thomas hartman: these are claims are dollars, not the dollars themselves. thomas hartman: there’s still counterparty risk (if debt tokens) or system risk (if decentralized hedged) thomas hartman: I can’t see how there could be 1 to 1 parity. thomas hartman: also this would be competing with systems built on open assets and others. thomas hartman: anyway… the thought running through my head these days is… tokenize everything. thomas hartman: transparent books, the less in a database the better. thomas hartman: counterparts keep you honest. thomas hartman: keep trust low. thomas hartman: that’s what will drive valuations. patrick dugan: what's really interesting is when you make tokens basically logic switches of some kind in a dApp structure with smart contracts thomas hartman: yeah I agree with that patrick dugan: we'll be publishing cool charts soon thomas hartman: related.. I’m unclear on kyc/aml for tether. thomas hartman: I understand you need to pass kyc/aml when cashing out of tether system. thomas hartman: so… what if user a buys some tether after passing kyc/aml. thomas hartman: he tumbles the tethers. sells for btc on polonium to user b. thomas hartman: user b now wants to cash out tethers for real use. he passes aml/kyc as far as identity check. thomas hartman: but anyone can see the tethers have been tumbled and the link is broken. thomas hartman: so this could be part of some money laundering operation. thomas hartman: would tether cash user b out? thomas hartman: seems to me like these tethers would be significantly less liquid than untumbled tethers, and therefore less valuable. thomas hartman: i.e. maybe you get used in the end but there’s a long/annoying wait period while you get probed. thomas hartman: or maybe you’re targeted for a criminal investigation. thomas hartman: academic while tether volumes are low but as the system ramps up in volume, this will happen at some point. thomas hartman: answers from team tether would be nice. thomas hartman: the key intuition is that anything that’s a token can be tumbled. thomas hartman: well, if the anonymity set is large enough. thomas hartman: so… if we’re going to tokenize everything............ thomas hartman: when does the aml/kyc ban hammer slam down? thomas hartman: if you think it’s going to slam down soon, you should probably buy ripple thomas hartman: not soon, or maybe never, bet on strong mixable tokens like omni / open assets patrick dugan: I spoke with the CEO of Bitfinex about letting people buy BTC without a verified account patrick dugan: just deposting it, trading it, withdrawing it patrick dugan: for banks and Tether they have a verified req. patrick dugan: I think from a regulator's point-of-view patrick dugan: there is a boon to all this patrick dugan: because Tumbling is predicated on the liquidity of the tumble pool patrick dugan: so you can build evidence against those guys patrick dugan: charge them all with money laundering, but later thomas hartman: that’s interesting. patrick dugan: and non-tumbled blockchain is pretty great for investigators patrick dugan: just run a regression and collate that with whatever else you have, you just need to pint an eye and a nose to pin the tail on the donkey thomas hartman: essentially this means there is arms race / cat and mouse analogous with $10k use limits currently in place for cash. patrick dugan: so they get the eye from the exchanges which would be otherwise block boxes thomas hartman: you’ll be able to tumble, but only small amounts. patrick dugan: yeah I'm not really worried about it thomas hartman: you can tumble large amounts by batching small amounts under sock puppet’s identities patrick dugan: I had my coming to ceasar moment recently thomas hartman: sometimes regulators will look the other way thomas hartman: and sometimes they will make an example out of you thomas hartman: exactly as now. thomas hartman: I guess that’s how it thomas hartman: it’s going to play out. patrick dugan: All I care about is that we're doing things by the book and so too the organizations we endow, though there is a reg. arb at work there in that we typically endow in jurisdictions that are way more chaotic than the US. thomas hartman: there’s some gray area allowed in the fiat system, because otherwise the peasants revolt if you don’t allow them some degree of privacy thomas hartman: the exact boundaries of the gray area are gray, because that gives you maximum flexibility in terms of who you lock up, how you play favorites, etc. patrick dugan: the interesting thing about publishing an algorithm for free and letting anyone combine collateral like BTC with trading some hedge to issue pegged currency, is that it's a true bearer asset, and essentially everone can do it patrick dugan: so the threshold of revolt you mention patrick dugan: well that's a dialectic for all System D economic growth that governments want to tax to some degree patrick dugan: will blockchain-ization of that shadow economy make it easier or harder for regulators patrick dugan: on decentralized chains maybe harder patrick dugan: on Ripple/Hyperledger-esque systems patrick dugan: easier! patrick dugan: much much easier patrick dugan: it would completely transform the situation in Greece of Argentina patrick dugan: assuming the gov cut rates to a lower level and taxed everyone affordabblly patrick dugan: which is perhaps more credit than I'm willing to give them patrick dugan: but the decentralized economic history is stil history that anyone can analyze patrick dugan: that's why Ecuador is smart patrick dugan: they got ahead of the curve thomas hartman: you won’t be able to get amld/kycd account with tether if you’re in a proscribed country like argentina or greece. but I guess you’ll always be able to get in and out with bitcoin. thomas hartman: the end effect is that tether on poloniex should be worth slightly less than a dollar thomas hartman: but hopefully not too much less patrick dugan: well anyone with verified accounts can arb it patrick dugan: so the discount should be that profit margin patrick dugan: as competitive as it may get thomas hartman: that makes sense patrick dugan: what I've learned doing arb in this space for a while, competitive as it may get may take a long time to get competitive thomas hartman: of course, as soon as there are headlines of drug money or whatever on tether, the discount will increase patrick dugan: but that's part of what I'm doing with this role I play, growing capital by providing liquidity thomas hartman: because now you’re looking at the counterparty risk of the tethers being non-exchangeable while interpol does its thing patrick dugan: I think people will do drug deals - or whatever - with p2p escrow that bonds the payment pending the competion of the deal, and they'll prefer USD with a yield that is also p2p generated and redeemed patrick dugan: but ultimately the only way you institute a criminal penalty for people who publish software is to revoke the 1st amendment patrick dugan: so law enforcement will simply have to adapt to hiring guys who can crunch the data and do investigations aided by that thomas hartman: somebody will tumble + attempt redeem on tether, just to mess with the system patrick dugan: it's called work and it's what they're paid for patrick dugan: likewise mil.gov like NSA will have to adopt better encrypted infrastructure to avoid getting zapped by the Chinese thomas hartman: its not the people who publish the software (they can be anonymous), it’s inconveniencing the actual tether holders when they try to cash in patrick dugan: thing is Bitfinex and Tether are not part of the US SAR system as much patrick dugan: they are in the Eurodollar system already thomas hartman: there’s aml there too, and interpol and and and patrick dugan: so their regulator is the HK monetary authority or the Taiwanese superintendand of banks, and their regulators have not explicated that those who deposit/withdrawal crypto-assets to trade must be verified thomas hartman: but do you expect this situation to continue indefinitely? thomas hartman: especially given the certainty of this avenue for capital flight? patrick dugan: now what you're actually talking about would be like a court precedent to try someone who traded Tether and deposited it as an accomplice to money laundering thomas hartman: it’s just a temporary artifact probably patrick dugan: but in order to set a precedent there would have to be proof of mens rea thomas hartman: yes to your last comment (court precedent) patrick dugan: which is balatantly untenable considering the purely p2p nature of usage in a blind, fungible fashion patrick dugan: if that were possible, people who have handled cash or bitcoins could all be tried for money laundering thomas hartman: well it’s new territory here, but I wouldn’t expect territorial governments to essentially open the floodgates on money laundering / capital flight in fiat currency thomas hartman: just because of some wording on previous precedents thomas hartman: they will at least attempt to lock it down patrick dugan: I mean you're talking about the 1st amendment and the 4th thomas hartman: along the lines I described earlier (fuzzy limits with fuzzy boundaries) patrick dugan: I am not pro-money laundering patrick dugan: I am not Cody Wilson though I enjoy his videos thomas hartman: neither am I, I’m just trying to predict the future thomas hartman: in terms of how this will play out patrick dugan: a Dex is not, like what Wilson said of dark wallet "basically money laundering software" patrick dugan: the chain of addresses is still quite intact thomas hartman: but the tokens themselves can be mixed patrick dugan: I think you're overestimating how effective these tools are for enabling individual actors who are evidentiarily guilty of other crimes to get away with money laundering thomas hartman: at low cost of both time, money and effort (somewhat unlike current laundering techniques) patrick dugan: Dark Wallet sets a precedent where the publishers have free speech rights but arguably the users are accomplices in ML thomas hartman: yes, but bitcoin is infinitely fungible patrick dugan: but having a chain of addresses, and any address in the chain has meta-data associated, you can build a case super easily thomas hartman: with tether, you get stuck holding the hot potato when you try to convert to real dollars patrick dugan: it really helps LE in a lot of ways patrick dugan: tax evasion is the hariest because tax events need context, which is more meta-data than the KYC usually permits thomas hartman: so LE doesn’t have to attack the system, they can just put pressure on the central account keeper patrick dugan: well Dark Wallet being p2p is a precedent that really thumbs the nose patrick dugan: because your central account keeper is every user patrick dugan: so what do you track down IPs and subpeana everyone who downloaded dark wallet thomas hartman: but not the case in tether and similar systems patrick dugan: yeah Bitfinex would not have put their foot on the train tracks if it were otherwise thomas hartman: LE can go to tether and say “these are blacklisted tokens. don’t let users cash out to real dollars until you’ve cleared it with us" patrick dugan: no because they don't have jurisdiction thomas hartman: and I guess they probably will thomas hartman: someone has jurisdiction patrick dugan: they can however charge people with crimes, investigate, and prosecute thomas hartman: there are treaties patrick dugan: HK/Taiwan thomas hartman: there may be a window of confusion, but eventually enforcement will be automatic and global patrick dugan: right let's download those and figure out how, if we were lawyers on such a case, we might defend our client thomas hartman: we’re talking about national sovereignty at stake patrick dugan: anyway Bitfinex will certain disclose all info on Verified users that way patrick dugan: will it eventually? patrick dugan: I've been looking at the TPP thomas hartman: that’s my prediction patrick dugan: it's a NWO-style dealio patrick dugan: there is an agency in Chile that pays people to eat at restaurants and record for any unliscenced music plays patrick dugan: seriously thomas hartman: the ability to track money flows is a tremendous power, that world governments will not give up on lightly patrick dugan: that could apply to subjagating food supply if Monsanto sues a guy for an errant wind-blown grain and the courts ruling in the guy's favor makes the country liable for payments under TPP thomas hartman: essentially they already have for pure crypto, but when it comes to tokens on fiat money, they will up their game patrick dugan: they actually don't' quite have it now patrick dugan: tracking SWIFT through offshore banking centers is possible, but it's a job thomas hartman: sure, it falls into that gray area I was talking about patrick dugan: I just think you're assuming that unilateral authority applies more to various parties, whereas the reality is they hire guys at 150k to sit down and do the hard work thomas hartman: but boundaries are going to shift radically if governments don’t take steps thomas hartman: so my prediction is they will take steps, to preserve not exactly status quo, but not total revolution either patrick dugan: the smartest thing for TBTB to do is adopt Blythe's thing or Eris' thing or Ripple and save money, invite people to use the digital ledger for tax transacitons as well maybe with a credit or a lower rate, and get a bunch of IDs and economic volume in their ledgers thomas hartman: with laundering shifted to block chains the work will be harder in some ways, easier in others patrick dugan: I actually take the possibility of criminals getting away with ransoms and hostage kidnappings seriously patrick dugan: I have thought deeply about this thomas hartman: me too patrick dugan: because I have kids and can entertain paranoia patrick dugan: so ultimately in a place like Argentina, you could sell cold wallets with 10 BTC each to a guy for $1750 each maybe patrick dugan: at present rates patrick dugan: but can you sell 100 of those wallets? maybe the guy will work with you to make it happen patrick dugan: can you sell 100 a month, I don't know if that economy in Argentina is quite big enough patrick dugan: it comes down to the scale of liquidity in the rogue pool thomas hartman: I don’t follow you now patrick dugan: you can properly launder BTC for cash by finding a cash dealer thomas hartman: seems like you’d collect ransom via bitcoin, buy tether to control the exchange risk if you’re worried about that patrick dugan: but people are still laundering money predominantly (like 99.999%) in older methods because those are liquid thomas hartman: and go tether -> bitcoin -> tumbler -> exchange with fake user id -> usd thomas hartman: to spend it in fiat if that’s what you want patrick dugan: haha ransomer doesn't want to be long BTC patrick dugan: too risky thomas hartman: he doesn’t have to be, he can buy tether on poloniex thomas hartman: without passing aml. right? patrick dugan: no Tether now requires KYC for all users thomas hartman: ok, that makes things slightly harder. patrick dugan: though they treat Tether equally to any other coin on there patrick dugan: right so the whiz kid at FinCEN who graphs nodal density in BTC aaddresses is already tracking tumbler pools thomas hartman: got it, tether is functionally traceable like other coins, but requires aml/kyc unlike other coins thomas hartman: on every exchange that allows it patrick dugan: they can model where things go dark and what is coming back to the light from those pools patrick dugan: probably you can untangle BTC blockchain tumbling with the right algo thomas hartman: you could still buy tether via localbitcoin / wot though thomas hartman: “dark tether" patrick dugan: you need the same KYC to do 2k daily withdrawals in Tether as in Moneero or LTC or ETH ect. thomas hartman: no, you can’t untangle tumbling if done right thomas hartman: it currently isn’t done right for the most part, but again that’s just temporary patrick dugan: and p2p local bitcoins will be a thing patrick dugan: I think the only serious thorn in the side of monetary authorities is cash trading for crypto patrick dugan: done p2p, efficiently thomas hartman: currently yes, but that’ll change eventually patrick dugan: like here in Chile they have the Caja Vecina patrick dugan: corner store, bring them some cash, they deposit to your account associated with your ID number at the state bank patrick dugan: if that business model can percolate patrick dugan: and in which countries patrick dugan: like in Chile that's an ID'd, state controlled deal patrick dugan: has similar reach thomas hartman: hmmm interesting patrick dugan: Bolivia is doing a really good job with that as well patrick dugan: met their Payments Director at the cb in Miami the other week thomas hartman: cb? patrick dugan: but in Argentina perhaps patrick dugan: central bank patrick dugan: or throughout Africa patrick dugan: or in rural India patrick dugan: we could see cash/crypto trade that is unlicensed patrick dugan: we could see cash/crypto trade that is licensed patrick dugan: saw a guy on local bitcoins paying a premium for your BTC via cash deposit patrick dugan: but, he's in NYC, so he claims to have BitLicense patrick dugan: which means notes, notes patrick dugan: so you see the problem continues to migrate down the line from the platforms to the individual users, and the inherent degree that the platform, more true of distributed ledgers, automatically informs on bad actors patrick dugan: not without paying people well to do some challenging work, but it's all tractable math and computer science patrick dugan: oh also ring signatures may be the exception to that thomas hartman: well, except the tumbling / ring signatures as you say thomas hartman: it will definitely be possible to break the link thomas hartman: and leave only timing attacks on the anonymity set patrick dugan: an rs blockchain like Moneero, with smart contracts and the growth potential that I am trying to galvanize on Bitcoin, so trillions in System D liquidity in this shadow chain, that could really be a threat to KYC status quo thomas hartman: only a matter of time thomas hartman: confidential transactions on a future bitcoin gives you essentially the same deal thomas hartman: best to treat all these anonymity techs as esentially already done deals when you’re trying to predict the future, imho patrick dugan: yeah but 100,000,000 system d merchants don't think the same way as the 89,000 Poloniex account holders thomas hartman: doesn’t really matter which token they happen in, or all of them, since tokens are interchangeable via exchanges patrick dugan: I wouldn't consider anything a done deal patrick dugan: because user acq. is hard for a social game patrick dugan: it's really hard for money apps patrick dugan: because people need to not just trust it but be comfortable with it patrick dugan: I was just barely comfortable rigging the Geth CLI to fire off some Ether patrick dugan: and I work in this biz patrick dugan: so scale that on down thomas hartman: it’s not a done deal of course, but when you’re doing psychohistory you need to make simplifying assumptions… identify the critical juncture points patrick dugan: if anything I should be more conservative about estimates of adoption thomas hartman: yes I think you should be thomas hartman: aim for traction on small scales in identifiable markets thomas hartman: rather than boiling the ocean thomas hartman: but I think overall you’re doing a great job thomas hartman: tether is a real thing. it’s being used. just figure out what works, and keep growing that. patrick dugan: thank you for your kind words
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