Discussion in 'General Domain Discussion' started by Silentptnr, Nov 28, 2017.
PoS is the future. My favorite PoS-coin is NavCoin.
Bitcoin. Look up spoofy and Tether.
XRP, totally centralized...it's for f*cking banks man, the opposite of crypto. It hurts the ecosystem to buy into the Ripple scheme.
Plus...don't they hold alot? Could influence price at any time.
XRP has been trading down for days now, it seems we are correcting valuations here.
You can never trust big banks, especially when it comes to crypto. When it comes to market cap xrp didn’t have much more to give without surpassing bitcoin, I don’t think they are there yet. The alt coins are just a traders paradise right now, up and down.
Better to hold into one of the big 3, if you don’t like the spikes.
Thanks for reply but I still don't get it who is doing all the hash and calculation.
As I understand logical developers hold small centralized mining farm - Crypto Bank.
And select people who gamble and hold coins at PoS to give them reward.
Nothing better than existing Bank System!
Even worse bank + pyramid mining casino!
My favorite is Monero ,I think coins like this will always stay.
Competently Anonymous. Enough but not too large demand to slow down decentralized PoW network. And PoW like Monero are practically useful for trading - there is less holding and speculation also I guess.
Sorry PoS is not literally centralized but servers around world who is doing hash are owned by Devs or Partners as I understand - so anyway PoS is Centralized Crypto Bank + Pyramid Gambling Casino!
It think the future coin will be who can make hashing algorithm with short delays from one miner to another more energy efficient similar like PoS but not centralized with few server owners who you have to sponsor to help them grow pyramid by buying and gambling with your coins to get reward.
Here it is explained how for example NavCoin PoS works: https://navcoin.org/faq/
Some other PoS-coins have masternodes which makes it more centralized, not NAV though. Probably there are also other PoS-coins out there that are not using masternodes.
I just read the all thing.
But they don't explain technical function of pos, they just tell like everyone else - Just Buy My Shi*coin.
"Our network is secured by Proof Of Stake consensus, which means that you need to own coins to be able to join the network."
As I understand masternodes are dev or partner servers doing calculation so this is right it is centralized system like Bank that we already have just upgraded crypto version.
Navcoin even blame Chinese owning largest mining farms, but if China own Bitcoin WHO OWNS NAV?
"what has happened is that mining is now becoming more centralised, with only a handful of groups (mostly in China) running the majority of the Bitcoin network."
The Nav is probably OK coin to compare with other scams ,but If anyone can find PoS coin that is fully decentralized let me know please!
Just partnered with Baofeng dot com (Chinese YouTube) and Weibo that is like Chinese Twitter.
TRX is presently at 0.12
This is NOT financial advise I'm just sharing what I read.
EDIT: More info directly from source http://bfc.baofeng.com/notice_h5.html?id=8&
Yup, not sure when the next flippening (ALT/BTC) will happen. You can pretty blame Futures trading and Ver's BCASH army as they play with BTC price, shorting futures and pumping bcash. 2017 was a hella year. This sh*t is just nuts...
They DON'T HAVE A BLOCKCHAIN, or a clear mission statement. Be warned.
TRX is garbage.
$0.112548 USD (-25.55%)
It's another penny stock.
I'm certain that NAV is not a scam coin. In my opinion it is in fact a good project, with good tech and skilled developers behind it. Right now it is still undervalued, but if the NAV-team keeps the promises it made as it did before, this is one of the coins that will stay.
But everyone has to do his/her own research!
To my understanding every (staking) wallet keeps the NAV network decentralized. Here you can see who owns NAV: https://chainz.cryptoid.info/nav/#!overview
Here is some more information on (NAV) PoS: https://medium.com/@bocyaj2012/nav-coin-proof-of-stake-informational-guide-71c9c3417212
You could also join their subreddit or Discord channel to get technically more detailed answers to your questions:
Taken 30 seconds ago...
Article in WSJ reports ALL mining facilities will be closed down.
FYI: The link above does not go to an active news story.
But some key points from the WSJ article about shutting down Bitcoin miners:
"A multiagency government task force overseeing risks in Internet finance issued a notice last week ordering local authorities to “guide” the shutdown of operations that produce, or “mine,” cryptocurrencies, according to the notice and people familiar with the information.
While the notice called for an “orderly exit” without setting a deadline, far-flung areas of China where cryptocurrency mining operations have flourished are complying. A local regulatory official in the far western region Xinjiang said Wednesday that his agency received the notice and is doing “what the country wants.”
Their winding down is the latest blow for bitcoin and other cryptocurrencies in what was a promising market but where the government is concerned about money laundering and risks in the financial system. China accounted for nearly 80% of computer power devoted to global bitcoin mining over the past 30 days, a rough approximation of its share of new units created in the same period, according to calculations based on data from ChainalysisInc., a New York-based research firm."
I believe there are already other nations stepping up hoping to cash in on the Bitcoin mining craze. So, if the Chinese exit is "orderly" - I don't think this will be a big factor.
As far as the South Koreans banning all crypto currency - from what I understand this was mis-reported...
"Don't panic just yet, South Korean regulators are putting a stop to the rumours that the government is banning all crypto transactions.
The confusion came after local publications quoted a government official saying they are "considering" a ban in the country as a way to cool down the digital currency craze. The announcement follows Prime Minister Lee Nak-yeon's harsh warning that cryptocurrencies might "corrupt the nation's youth." Last month he urged regulators to create a task force alluding to crypto as a gateway to pyramid schemes and speculative investment if left unchecked.
Korea's top financial watchdog, the FSC (Financial Services Commission) Chairman Choi Jong-ku noted that the ministries are in discussion over the extent of trade regulation. As of now, several government groups involved in the virtual currency task force are of divided opinion on the matter-- some in fear of stifling crypto and fintech innovation. But Choi confirmed that any decision to prohibit transactions must have legal basis. "
So I believe SK is just looking to target "illegitimate" entities in the crypto space - but it is all speculation right now...
Regardless, this news definitely has the market shaken...
I think there are a lot more bumps in the road to come, but I don't see any roadblocks yet. I believe the market should recover shortly and continue on it's former path... But I am not an investor and not giving advice... Mainly just watching on the sidelines, while HODLing a small diversified crypto investment.
I admit TRX is looking fishy... I believe it is supposedly a single developer who is ripping code from the other cyptocurrency projects? I was looking at it at one time, but decided to stay clear.
I know others will disagree - but I have high hopes for XRP. Most people complain it is a "bank" "corporate" or "government" crypto - but I think this will be to their advantage. A lot of crypto traders want to bring down fiats and governments - so they inherently hate it. I personally believe fiat and government isn't going anywhere - so it seems like a good bet to put a little in XRP as it has a very good chance of being on the right side of regulations and mass adoptance by business and governments.
But we are all really guessing here. This is a new world, and no one knows what is truly to come.
Miners are looking at Quebec I read yesterday.
I saw that and that a couple of other countries/territories with cheap and abundant electricity are looking to do the same.
I don't think the Chinese "mining crackdown" will effect the bitcoin network unless they were just to "turn off the switch" all at once. (which I dont think they will do)
People/Companies will have no problem finding a new home for their operation.
Anyone notice this 1 day old coin?
Interesting spike. Don't see anything reals special about this token though, but haven't looked very thoroughly yet.
Here is another token I like:
Sportyfi - I like the name and the concept behind it. They are now building a platform and it is supposed to be online in Q1/2018. If they keep that goal and the platform works, this has great potential to be a big thing.
In short, their purpose is to make a platform where people can invest in upcoming athletes and teams. Nice idea. The sport sector needs some re-working anyway.
Verge (XVG), formerly DogeCoin Dark, looks interesting.
Nothing good to say about xvg. John Mcafee’s yapping is the only thing that coin has going for it, Dont be fooled by its recent pump. I waited for their Wraith Protocal to be released 4 seperate times in the past 6 months, watched the lead developers point blame like “He did it! No it wasnt me, HE did it!” over a reddit thread.
Dogecoin is going to have a great year 2018 however.
As for BTC being a safe investment in 10 years, i’d say thats hard to say with how crazy these past few years have been. I’ve been in crypto for a good while now and this is still relatively new, new laws and restrictions are constantly coming out in every country. Hard to say at the moment but while altcoins can get you MASSIVE gains with little money, Bitcoin is the safest coin investment.
i posted this on another thread.. but this is probably better place
did you guys read the article where someone did experiment to buy 10$ each of top 100 coins on jan1 2017.. and left them roll untouched for 12 months? the results were mind blowing
its pretty clear this profit won't repeat in 2018 for doing same thing
worst case you loose 1k... which of course has like .0000000001% chance of happening. best case.. well.. thats anyone guess
thing is.. could be hard to put togethjer 100 coins from the various places.. but doable I guess.
thoughts on this? I mean the roi on that experiment was just astronomical.
Garbage at about .06 now.
Separate names with a comma.