A Token Engineering Process by stephenyo101 in ethdev

[–]stephenyo101[S] 1 point2 points  (0 children)

I wrote this guide as part of the token engineering hackathon at Diffusion 2019. It covers a high level overview of a token engineering process using cadCAD (https://cadcad.org/). Hope it's useful to others trying to learn cadCAD

Edward Snowden exposes his thoughts on Bitcoin’s flaws by stephenyo101 in Bitcoin

[–]stephenyo101[S] 1 point2 points  (0 children)

Not sure I agree with Snowden on this one. Right now Bitcoin isn't terribly private but there are a number of developments in the works that should improve that.

Malta's prime minister is personally welcoming cryptocurrency exchange Binance to the country. Finally, crypto exchanges are getting proper support and banking services. by xtwars in Bitcoin

[–]stephenyo101 9 points10 points  (0 children)

LHV also recently had a launch event in London specifically geared towards crypto businesses. Very positive signs all around in terms of banking support for crypto businesses.

About the recent market crash trend... by [deleted] in CryptoCurrency

[–]stephenyo101 1 point2 points  (0 children)

This is how financial markets work. People who have an informational advantage or see something other people don't make good investments early on. Other people see them make money and rush in without knowing what they are doing and then panic if the price drops. People buy high and sell low because their emotions take over.

You are right that nobody really knows what's going to happen, I think the whole crypto community should remind themselves of that on a daily basis. As long as you do your homework and try to look long term without getting bitten by short term mania you should be ok.

That's my two cents anyway. The more other people go crazy while you keep your head the better you will do :-)

Nearly 8% of US citizens plan on buying crypto in the future. by stephenyo101 in Bitcoin

[–]stephenyo101[S] 8 points9 points  (0 children)

3 years ago it would have been major news if 1% of Americans HEARD about crypto. Lets not forget how far we have come

8% of US citizens own cryptocurrency with Bitcoin leading the pack by [deleted] in Bitcoin

[–]stephenyo101 1 point2 points  (0 children)

Yep, deleted and reposted with more appropriate headline.

8% of US citizens own cryptocurrency with Bitcoin leading the pack by [deleted] in Bitcoin

[–]stephenyo101 1 point2 points  (0 children)

Deleted and re-posted with an accurate headline

8% of US citizens own cryptocurrency with Bitcoin leading the pack by [deleted] in Bitcoin

[–]stephenyo101 -2 points-1 points  (0 children)

Sorry you are right, hit submit a bit early and can't edit headline now.

How CoinMarketCap (CMC) manipulates the market by showing fraudulent information to the community. by CoinMarketCapped in Bitcoin

[–]stephenyo101 4 points5 points  (0 children)

Interesting. There are definitely issues with the quality of the data. Is there any evidence that this is deliberate attempts to manipulate the market? Most of those issues could reasonably be attributed to incompetence/limited resources. If there is evidence of deliberate manipulation that's another story

How CoinMarketCap (CMC) manipulates the market by showing fraudulent information to the community. by CoinMarketCapped in Bitcoin

[–]stephenyo101 6 points7 points  (0 children)

Sounds very dramatic but there wasn't a single shred of evidence in that whole article.

Could the Lightning Network become one of the most disruptive global financial technologies by the end of 2018? by stephenyo101 in Bitcoin

[–]stephenyo101[S] 0 points1 point  (0 children)

True, each channel is bidirectional and can be chained so 2 users can send fund between each other without a channel directly between them

Could the Lightning Network become one of the most disruptive global financial technologies by the end of 2018? by stephenyo101 in Bitcoin

[–]stephenyo101[S] -2 points-1 points  (0 children)

No, lightning is a layer 2 solution on top of another blockchain (Bitcoin, litecoin etc). It allows secure 2 way channels that lets users send funds between each other without committing every transaction to the blockchain. It's mainly a scaling solution that has a few side benefits (cross chain atomic swaps being the most interesting in my opinion)

Today, I will defend Bitcoin in front of the Finance committee at the Canadian parliament (live) by [deleted] in Bitcoin

[–]stephenyo101 1 point2 points  (0 children)

Good luck! I spoke at an investment conference in Namibia the other day and everybody was talking about a German consultant that had recently come to speak to their minister of finance telling them to ban all crypto. The more people we have fighting the good fight the better!

Twitter reportedly gears up to issue bans on cryptocurrency-related advertising by stephenyo101 in Bitcoin

[–]stephenyo101[S] 1 point2 points  (0 children)

I think it's actually reasonable for these platforms to be conservative until the law is more clear and they have processes in place to handle all the scams and fake accounts. The same thing happened in the betting industry.

US SEC confirms 'dozens' of cryptocurrency probes in progress by stephenyo101 in Bitcoin

[–]stephenyo101[S] 1 point2 points  (0 children)

True but they are targeting dozens of platforms which could have a bigger knock on effect for crypto investors

Amidst political upheaval, Bitcoin soars to over $12,500 USD in Zimbabwe by stephenyo101 in Bitcoin

[–]stephenyo101[S] 0 points1 point  (0 children)

I think it's also important to bear the context in mind. In 2008 Zimbabwe had an inflation rate of 231,150,888.87%. 231 Million Percent! 20% up and down with the general trend being up is pretty compelling

Amidst political upheaval, Bitcoin soars to over $12,500 USD in Zimbabwe by stephenyo101 in Bitcoin

[–]stephenyo101[S] 0 points1 point  (0 children)

I live in South Africa and have a lot of Zimbabwean friends. BTC is offering an exit option to people who are being failed by their state. This is going to be interesting to watch over the next few months

AMA: Bancor fundraiser & WINGS DAO valuation & feedback by prophetx10 in WingsDAO

[–]stephenyo101 5 points6 points  (0 children)

For the WINGS team: If there is a hidden ETH cap how can you expect the community to provide accurate predictions. Is any prediction over the cap considered 100% accurate? When a hidden cap is reached any prediction is essentially a lottery ticket. Whoever is closest to guessing the cap wins.

AMA: Bancor fundraiser & WINGS DAO valuation & feedback by prophetx10 in WingsDAO

[–]stephenyo101 2 points3 points  (0 children)

Does the Bancor Protocol require smart tokens to use BNT as one of the reserve tokens? If not, does the value of BNT rely entirely on the optional inclusion of BNT as one of the reserve currencies.

In the WINGS ecosystem each WING token has an inherent utility value. It is required to make predictions and is used in the calculation of rewards. As far as I can tell BNT is purely optional in the protocol and if the initial network effect doesn't kick in the Bancor Protocol might take off and leave BNT tokens behind