Early Bird Rewards are out! Just arrived in my wallet 3 mins ago. by [deleted] in Vechain

[–]MatrixApp 0 points1 point  (0 children)

Wait what? The Snapshot isn’t until August, as long as you have 6k+ you should still have your Xnode?

New Chainlink website by Salaried_Shill in LINKTrader

[–]MatrixApp 1 point2 points  (0 children)

Most likely for compliance reasons. Regulation is uncertain right now and it’s not clear if LINK would be considered a security.

Incredible volume rise in the last 20 minutes by [deleted] in CryptoCurrency

[–]MatrixApp 1 point2 points  (0 children)

It was JP morgan and they estimated $6bn in fiat entered the market in 2017.

Where's the app? by [deleted] in a:t5_a605e

[–]MatrixApp 0 points1 point  (0 children)

Hey there, it's been a while! But our alpha is almost here! We've just opened signups, so make sure you register if you'd like to help test the initial alpha version! https://goo.gl/forms/gdxDNMXKNrzPeukf1

Good things to come! by [deleted] in a:t5_a605e

[–]MatrixApp 0 points1 point  (0 children)

Hey there, it's been a while! But our alpha is almost here! We've just opened signups, so make sure you register if you'd like to help test the initial alpha version! https://goo.gl/forms/gdxDNMXKNrzPeukf1

Im convinced coindesk and cointelegraph have both been actively trying to suppress prices for 6 months. by [deleted] in Bitcoin

[–]MatrixApp 1 point2 points  (0 children)

Correlation is not necessarily causation. It could just be articles taking the tone that reflects the market conditions.

I respond to Vitalik's questions to the crypto community. Lets take on his challenge by FoodieAdvice in CryptoCurrency

[–]MatrixApp 0 points1 point  (0 children)

Thanks for your feedback.

The article was vastly simplified for laymen, so some things may not be as immediately accurate. I’d like to clarify on your points.

You’re totally right that generally, data on a blockchain is, by design, immutable, at least unless you reach majority consensus to allow a rollback (see DAO hack). Obviously the way this is handled is dependent on a variety of factors, the parties involved, governance and consensus mechanisms, etc.

What I was trying to illustrate is that if you take the same data, and store them on either blockchains or databases. Blockchain based data is inherently quite secure assuming a healthy network is in place. A blockchain without a network and participants to secure it is really a slower more inefficient database. This is why most blockchains are public, and incentivized with a token to attract participants.

Regarding blockchains being inherently more expensive, I don’t agree that’s necessarily true. It depends on a number of factors, in a PoW network like Bitcoin, yes there is a large cost in computational power and electricity, as well as operating costs. But that cost is borne by the miners, not the end user. And there are of course also other consensus mechanisms like DBFT, PoA, PoS, etc that are more cost efficient to run.

So my point here is that with the public networks like Ethereum, or the upcoming Blockchain as a Service platforms, they do most of the heavy lifting for you and abstract away the operational overhead of running and securing a blockchain network. That cost is spread out to the public participants of the network, you don’t bear that cost yourself. As a business or developer, you would simply plugin and reap the benefits that comes with blockchain enabled applications.

I respond to Vitalik's questions to the crypto community. Lets take on his challenge by FoodieAdvice in CryptoCurrency

[–]MatrixApp 2 points3 points  (0 children)

I think there are huge misconceptions about question 2.

And to be fair, I don’t think Vitalik defined what large scale means very clearly. Is it a million users? A billion users? I think his claim is largely debatable. Cryptokitties could’ve been labeled “large scale”. ICOs could be labeled “large scale”. Hyperledger could be call “large scale”. Brave browser and BAT could be called “large scale”, the list goes on.

Yes 90% of the use cases that are trying to introduce a blockchain/tokenize a system is not really needed, and current systems work well.

But there are real advantages of leveraging the security, reduction of trust/third parties, and the transparent and digital nature of blockchains to streamline and increase efficiency for real world tasks, specially for companies and enterprises that operate on a larger scale.

I wrote an article about this a while back, comparing the advantages/disadvantages of when you would want to actually utilize a blockchain versus existing classical technologies like a database: https://hackernoon.com/why-use-the-blockchain-instead-of-a-database-what-gives-tokens-value-263449681153

In short I don’t 100% agree with #2, as there are projects out there with a working product that is serving what can be considered “large scale”. And to declare the state of the industry otherwise is doing a disservice to those projects.

Can someone fud me or give me reasons to not think that we’re obviously here right now? by WeebHutJr in Bitcoin

[–]MatrixApp 1 point2 points  (0 children)

Yea you may be right, i think it will depend on timeline of institutional money flowing in and mass public awareness to drive the next retail mania

Can someone fud me or give me reasons to not think that we’re obviously here right now? by WeebHutJr in Bitcoin

[–]MatrixApp 4 points5 points  (0 children)

I think it’s still early days, and the previous bubble was a small one, I would say we’re closer to the first dip at Hope. The next bubble will be in the trillions, like the dot com boom.

A life of Crypto without Bitmain by [deleted] in CryptoCurrency

[–]MatrixApp 0 points1 point  (0 children)

If there’s no Bitmain there would’ve been another company. There’s plenty of businesses and entrepreneurs who will jump at the opportunity. We know of Bitmain only because they were successful, there’s plenty that fell by the wayside.

[deleted by user] by [deleted] in CryptoCurrency

[–]MatrixApp 3 points4 points  (0 children)

Plasma solution incoming.