I'm tired of all the one sentence posts here, "DGB about to moon", "ETH on suicide watch", "What coins should I invest in?". So I would like to have an actual discussion about what coins you believe in and why. And I think we can use 4CHN to facilitate honest discussion. Face it, any FUDer, shill, or pajeet doesn't have any 4CHN or even a wallet for it(yet). Also anons can vote with their wallets, and actual good advice/discussion can be rewarded. I'm going to be giving out 5 Chancoin for each post that contains an address to do so and also: 1. Well-reasoned discussion 2. Few spelling/grammar errors(sorry pajeet!) 3. At least a paragraph I'm also going to try to make this a weekly thing. Don't get hung up on the Chancoin, that's just a way to verify posters are true anons. You don't have to believe in it or invest in it. Just get a wallet address and get free money for insightful posts. Do you hate money?
Actual post: What coins are you into Veeky Forums? My main long-term holds are:
1. Monero (XMR) - Actual use case for people who want privacy in their transactions. Steady growth, and has potential to be in the top 5 by market cap one day. Will always have volume from people "washing" their bitcoins at the very least.
2. Antshares (ANS) - Bought in at $1.40, then again at $4, so minor fluctuations around $7-$8 don't bother me. Might be the Etherium of the future, might be a meme, but either way I only see positive upside in the future of this one.
3. Numeraire (NMR) - Saw this just get added to Bittrex and Coinmarket cap and jumped on it without doing any real research when it was $19. Sold half my stack at $150, going to sit on the rest of it for at least 6 months. I feel that if these data scientists have to buy it to get into the game their playing, it has long-term growth potential. Also I saw articles for it on normie investment websites, so they're paying money for advertising.
4. Litecoin (LTC) - I have about 20 percent of my portfolio in this. I don't know what to expect form the August 1st UASF from Bitcoin, and I think this is a safe hedge of my bets. Plus it has pretty steady growth, usually recovers faster from dips than BTC/ETH too.
5. Shift (SHIFT) - Ten percent in this one. They're not even in the top 100 by market cap. Trying to make a decentralized, uncensorable internet. If they succeed, they will be in the top 20. That is a big "if", and there are more than a few coins attempting this. Still a good long-term hold, even though it is the biggest risk of all the long term stuff I have.
Some might call these shit-coins, but they're some of my bigger risk long-term holds:
1. Cofound.it (CFI) - These guys want to do a clearinghouse for ICOs. I think this is very needed in the crypto space, and as more people get burned by ICOs that dump as soon as they get to market, I think their services will become more valuable. Also if you hold like 3k (or something, don't remeber the number), you get early access to the ICOs. Either will win big, or it will crash to nothing.
2. MonaCoin (MONA) - It's availability at Japanese ATMs means it's not going away anytime soon. I bought in at $0.40, and have seen some steady growth from it.
3. Piggycoin (PIGGY) - Saw some user here say that he had some and looked into it since he wasn't shilling like a tard. It's at $0.00081417 right now, and has plenty of room to grow. I'm up 20 percent since I bought in a week or two ago. It's aimed to be a tool to teach children about crypto, so the teacher buys a few dollars worth and distributes it to the students. Students get to learn about blockchain without risking megabucks. Something I totally beleive in/support and could see it getting to $0.01-$0.05 easily. Also working on something to help this community out, basically a physical crypto piggybank with a RasPi. Still putting together the BOM, but contributing to a community is a very cool feeling.
Caleb Green
4. ChanCoin (4CHN) - I put about 5% of my portfolio in this and already doubled my money. It keeps growing slowly, and I believe in the project/devs. It's on Nova now, and as soon as we get some transaction volume, I'll finally have it in my Blockfolio. This is another one where I am doing my best to help out the community. Right now trying to convince the devs to take some of that pre-mine and make an ARG-style treasure hunt to make a few basement dwelling anons rich. Have comissioned memes, tipped a few posters too. If this succeeds, it will be $2-$20 a coin easily. That's 20X ROI for worst-case scenario. I have dumped more into projects that went nowhere and gave my money to pajeets. Even if this fails completely, I'm only out $40, and I know that money went to an user instead of someone shitting in a street.
So what do you guys think about my investments/speculation? What are you holding and why do you believe in it?
Hunter Jones
right now i only put money into 4chn since it's a new currency and i think that in the next few months it's value it's going to increse a lot,maybe i will be able to earn some profit for it,the problem is that if the mining isn't enough it might crash
Nolan Foster
Low-effort post, but I'll give it 4 out of 5 Chancoins, lol. Mining will always fluctuate up and down. Getting one coin a day right now might not seem like a lot, but when it's worth $20+, it will have been a good investment.
Josiah Davis
Thanks for your contribution OP, people like you make this place bearable.
I noticed you only have LTC as your only "mainstream" cryptos. Why dont you have any % of BTC or ETC part of your portfolio?
Ryder Kelly
I hope no one wastes time and reads this.
>tl;dr- Buy my shitty Veeky Forums coin because I'm bag holding
Nicholas Jones
I like the idea of NMR, but wont only the shitty number crunchers lose and need more NMR? The shitty poor ones that lose constantly will not have the money to buy more.
Blake Rodriguez
>Nobody ever mentions STRAT
Man these bags always get hard to hold
Lucas Watson
I did have some ETC, but sold at like 5 profit. Might get back in soon, but it has been stagnant for a while. BTC I'm too uncertain about what is going to happen on Aug. 1st. Stay cucked Norman. What have you done for the community lately? REEEE more loudly please. That's actually a good point, but I think they make good money and can afford to put more in. Plus I heard it gets burned if you lose the bet, so less supply = more money for mine. Also I have a sentimental attachment to it at this point. I'll hold this until it gives me callouses, lol. I have a little STRAT, bought low and it went even lower. Great, lol. Bagholder forever now
John Bailey
>What have you done for the community lately? He didn't create a fucking scamcoin spammed to no end on Veeky Forums 24/7 for one.
Ryder Nelson
Buying bitbean beas cion will be good for your porfulio soon to the moon
Jason Price
Cool story. How many other coins are pre-mined? The pre-mine is going to be given back to the community and burned for the most part.
But let's assume you're correct, and this is all a huge scam that we're buying into. What's the endgame? Devs could run off with al the money right now, but that would be maybe 15 BTC. Maybe devs' target is lamboland. So 2 lambos is $400k (used). I mean, why would you scam 4/biz/ for any less? Veeky Forums has proven they have better skills than most 3 letter agencies when it comes to tracking people down. Not the kind of people I would steal thousands from. But again, let's just assume that is the point. The 500k that was fat-fingered into a stranger's account is probably the exit money so the damn scammer devs can be all like, "Look at our wallets, we're still all in." So for that to even buy a couple lambos (I think there's just a few active devs, dunno), the coin has to get to $1 each. It's trading at around $0.12 now. That's still about 10X your initial investment even if you think this is an absolute scam. Do you hate money Veeky Forums? Are you beyond retarded?
Honestly, I don't think this is a scam. Why would the devs do anything at all if so? Why pay the listing fees for more exchanges? Why make a website?
Jayden Rodriguez
This is the first post of actual value I've seen in a while so thank you user and I'll give my two cents on reddcoin. Yeh I know its been shilled a fair amount but still I'll give actual reasons why I believe in it. (I'm mostly with ans btw but wont bother with that although I will say the 'chinese ethereum' meme holds weight when you look at other chinese businesses and how they don't follow the west).
Anyway reddcoin. Rdd is the ultimate noob coin. I like to consider it the 'gateway coin' in that basically anyone can quickly understand its use and if successful will be the first coin normies are going to use regularly. Its a decentralized(duh) coin for tipping content creators on various websites like youtube, twitch, camsites and I'm guessing will branch out to other websites. You just tip content creators you like. Its that simple. A simple currency based coin which anyone can grasp. Which is whats I'm hoping will make it valuable in the long run.
Its currently waiting on redd-id which will give users of the coin an actual username, instead of a hash which is a scary barrier for normies. Eventually people will just be able to send reddcoins to a username, send a message along etc. Redd-id itself is a browser extension but is going to move beyond this. Initial adoption is obviously key and I imagine theres going to be a lot of push on for example youtube of people tipping various content creators to eventually get them to sign up for a username and start accepting reddcoins as tipping. (gotta spend money to make money).
My only concern is the devs are really really quiet about it, the subreddit is a bit of a joke considering its touting itself as the social currency. I'm hoping this changes once redd-id drops however. I also have no idea what websites they are starting out on but am guessing that popular content creation websites.(because there needs to be a way to send reddcoins to e.g. a youtube user account thats not already signed up).
Jonathan Martin
pretty much this is the only coin that has active devs thats not tied to a ico and eth. so eth is shit so the coins are shit
Chase Ward
>The pre-mine is going to be given back to the community and burned for the most part. AAAAAAAAAAHAHAHAHAHAHAAHHAHAAHAHAHAHAHAHAHAHAHAHAHAAHAHAHAHAHAHAHAHAHAH
i'll fucking believe that when i see it
the fact it was done in the first place is tip top faggotry
Owen Ortiz
I don't see this shilled that much lately, more insulted for bagholding it. This was one of the coins I actually researched and thought it would have a plausible future further down the line. I've just been accumulating slowly, and with it being so low, it's been very easy.
Benjamin Ward
Verium / Vericoin
Evan Robinson
This
James Walker
The smartest post I've ever seen on biz made the point that there are major problems with current cryptocurrencies (like all of this uncertainty and disputes surrounding BTC). And the best bet is to invest in projects solving those problems, with solid dev teams and roadmaps and real tangible progress (ie, consistent github updates).
To the user who originally wrote that, thank you. There's a lot of quick money flying into BS crypto vapor these days, but if you want to be successful long-term (both in crypto or in business in general), you'll realize ultimately, people pay for solutions to their problems, whether they realize it or not.
Gavin Anderson
Redd hodler too, if Redd can capture the outsiders and introduce the masses to crypto it'll be some insane gains for sure. Guess only time will tell.
Colton Perez
65% ETH, because I think BTC will shit the bed on 1 August and ETH will be there to take the throne 7% BTC in case they get their shit in line and figure out scaling, and heal the community divide 3% XMR because it's the biggest privacy coin, and it uses ring signatures not shitty ZKSNARKS. That'll keep it near top altcoin slot, but it'll never dethrone ETH or BTC 25% MKR This one requires some explanation, I've never seen it even mentioned here and it's only on decentralised exchanges so I'll assume it's unknown. The aim is to build a stablecoin, called dai, that inflates or deflates slightly (up to market conditions) against a basket of major world currencies. Crypto without the volatility, perfect for loads of actually useful shit. The pool of MKR holders acts as lender of last resort to back the dai in the event of a market crash, and in return get fees of a few percent a year. Doesn't sound like much, but if dai takes off it could be ~ top three crypto assets. This is my long shot, my huge upside potential lamboland gamble. No 4CHN thanks, it's doomed to fail, like most use-case specific coins that offer no advantage over just using a more mainstream crypto instead (cough RDD).
Tyler Davis
stopped reading a fucking road map. IM FUCKING TIRED OF SEEING THIS FUCKING WORD.
fuck i can solve all the world problems with a fucking pen and white papper. invest in my company. but you forget theres fucking niggers on this earth and any soulation will never solve the worlds problem.
FUCKING KILL YOURSELF your killing this fucking site
i got a white paper with a raod map saying you should suck my dick who wants to invest in my company trying to get you to suck my dick
SOLVE A FUCKING PROBLEM IN THIS WORLD THEN AND ONLY THEN WILL I INVEST IN YOUR SHIT COIN
Blake Hall
why in the fuck would btc shit the bed due to a solf fork that everyone fucking wants? would it not shit the bed if it was a hard fork? please kill yor self
Noah Davis
Soft fork must have overwhelming support to go well. If the non-forked chain gets even a couple of blocks, people will panic. There's also like three different competing hardfork proposals ready to go which could shit everything up even more. This will be messy, whatever happens, and then best-case successful softfork scenario, more mess when the compromise 2MB hardfork tries to happen.
Robert Johnson
You angry, bro? Seems like you're angry. Take a few deep breaths, do some research, and stop losing your money on shitcoins.
Colton Davis
the only people that dont want a solf fork is a fucking minning pool and fuck them and from the last time i checked the miners do not control the price
Connor Ward
have not lost anything never invested into eth or a shitcoins icos. all it is is pump and dump. shit is getting old and people are seeeing it. i could name off fucking 4 coins that have road maps and there coin is on a exchange and maybe the coin is worth 3 dollars. and there is not a fucking wallet you could send your coins to. NOT A FCKING WALLET
Angel Allen
the chain does not brake in a solf fork it will be the same chain. if the miners runing the non solf fork code will not mine blocks. they are not runing the code so will not be accepted in the blockchain.
Jose Walker
Since I see a good amount of reasonable people in this thread, I really hope that some of you will join our new discord discord.gg/GRRyWn to really discuss coins and ongoing developments - instead of just shilling around and without giving any value.
I think that if more good minds come together, we could help each other to make the right decisions.
Cameron Gutierrez
Soft forks orphan non-compliant blocks, but if there's a sizable dissenting group, they may get several blocks off in a row before the main chain catches up. If there's
Jose Thompson
Sia may become the backbone of streaming services that should improve those services (netflick etc.) if they still exist. If these services fail to adopt the new tech then they will go the way of AltaVista. The developers may have made a short-term mistake with the release of the Obelisk miner and not accepting payments in sia but I think their strategy is long term and about protecting the long-term success of the coin and their platform (best to buy in now before the storm). In the medium-term I expect value to spike with the release of Obelisk and this will secure the long-term future of sia. Bytecoin is a shitty project with a small team but their fundamental ideals are something that appeals to me. The relatively low cost of each bytecoin makes it easy to buy into and if there is something like a dotcom boom then everything will skyrocket and the returns will be exponential. Golem is another service provider I would find extremely useful because I something do 3D still and animation as a hobby and rendering time for any serious project (to make it look acceptable) is always through the roof. I have fears about coins being built on specific projects without their own blockchain (perhaps this is a legitimacy concern) but I also think that this issue will resolve itself with time (the unfamiliarity of it).
Nice work with the thread OP
Liam Howard
I was gonna comment the same thing, RDD definitely has some promise (obviously could get no traction and tank) but as cheap as it is, I think people should look into buying it. I'm sure there will be a spike when the new features come out. It has been surprisingly stable recently as well.
Michael Nguyen
>The relatively low cost of each bytecoin makes it easy to buy into There are still people who think cost per coin matters How the fuck
Isaiah Myers
Okay, you still seem angry. I don't think you took my advice.
Easton Williams
Only if there is a dotcom boom type of event where literally everything crypto will become valuable for a short-time
Grayson Gutierrez
What do based user? I want some coins to hold for five years not really into day trading. I put half of my paycheck (360) into this and save the other 360. This is a five year thing for me.
Easton Brooks
Yes but why does coin price matter then still? If for example ZCash and Bytecoin rise meteorically in market cap by the same percentage, it wont make a difference whether you have 1 ZEC at $5,000 or 50,000 BCN at $0.10
Jeremiah Price
>XBY Why? (just curious)
Gavin Moore
>Sia may become the backbone of streaming services that should improve those services (netflick etc.) if they still exist
I was at cisco live last week and sat in a short 45 min blockchain talk and this was an exact use case the speakers saw, the specific use case they saw was immediate payment to everyone involved which is not how it works today.
Nolan Young
me again, and I guess this is a point to picking the next winner. What thing has real use cases?
How do identify the next ethereum...what made ethereum so special?
Andrew Gray
Anybody in VIA? Been looking into it a little and I'm liking the potential to buy the dip here
Nathan Cox
I bought in at .006 or something like a month ago made 1k off of it. Just holding for fun now. Stratis and XBY turned my 1k investment into 3k now in a weird spot where my portfolio stagnates from 3k-4.4k
Robert Brown
Don't hodl for fun user, you could take the rest of that and have a go on another short term play instead of just letting it go stale, which is almost guaranteed to happen on XBY
Caleb King
I think XBY has potential if it isn't just a fucking meme/scam. Community is shit and xby team isn't professional at all. What is a good buy and hold right now?
Eli Thomas
What are those normie investment sites?
Dominic Brooks
ARK
see:
Blake Flores
I personally think it would be more beneficial to us all if we stopped with the fud/shill and start posting the charts with our favorite indicators and start speculating on what we thinks going to happen. Be nice if we could come together like a few other corners of the web do. Here its just "invest or be sorry" but no data to suggest they aren't just dumping on fools or they really see a potential in the coin (chart wise or dev announce wise)
Nathan Hill
>op makes reasonable post >mentions Chan coin >no-chancoiners lose their shit
Sebastian Powell
I was the same about XBY around the beginning but have since gone from 50 to 99% certain it is a scam. Volume has been steadily deteriorating slowly welding that exit shut, I don't really see the situation getting too much better unless it actually produces which I expect it never will.
May get a bump from the new website so could go for a sell the news play based on last time, although this time the situation is different so may never get the pre site pump. The level 2 static registrations will almost certainly go ahead and should froth up newcoiners / pnd crews at least a little for a spell. New code of course is 'coming' but as it stands the coin is still a low quality bitcoin clone.
Todays pump was one of the lieutenants buying up more, not sure what he meant by this but he has massive bags that without a significant increase in trading he will never be able to unload, possibly trying to generate some interest with a big 24hr change. Can consider he might have good news insider info but I'm cautious on it, if XBY had anything up its sleeve it would more likely be being shilled hard.
Overall I think 'at any profit' is a good time to sell this. As for what to buy with the proceeds, based on your blockfolio you could consider something else risky in the small caps that has a little more going for it
Grayson Price
Yea XBY had promise when the pump to 3 cents or whatever it was then it all went to shit when the static nodes had to give away 60% of their income or whatever the number is. Also the new static nodes or whatever sound like a fucking joke for the creators to make more money. I feel like my blockfolio is very high risk but not meme core almost though.
Whats your thoughts on ANTS? Do you think it is a good long term hold?
Caleb Gray
most of my portfolio is stuck in bnt... I bought into the hype but im trying to move into Veeky Forums because I believe it can moon due to popularity
Aaron Allen
the L2 statics make little sense outside of a tactic to convert bags to locked up coins. It's not that there's no reason to do more statics at some point, but doing them so immediately and especially the way they are doing them only really works with a short term outlook
Easton Adams
Oh yeah antshares, there may be something to the chink ETH angle but I havn't got them solved on this one just yet... Hedging chinese ETH money is all I would take it for right now, there may be an argument that if ETH dooms itself via ICO madness ANS could pickup the slack
Elijah Stewart
I'm hedging my bets on multiples and not individual coin value + it lets me buy in at a cheaper rate. When it moons even to 1USD or higher it will be magnificent.
Chase Foster
This
Dylan Murphy
Ethereum is a platform for further development that requires the use of their token + hype surrounding a "working" product in a sea of alpha builds. I don't think it will last unless it scales. Steemit is another awesome application of blockchain tech that could revolutionise social media.
Oliver Cruz
you should flush yourself down the toilet, dumb dumb.
Christian Hall
What are your holdings look like? Pic of blockfolio if you mind?
Camden Howard
feeder crickets and ranch dressing, mostly.
Kevin Edwards
5 4CHN to you based user. I have some Sia, but not a big bag. Golem is one of the ones I have a bit of, but still trying to accumulate on the dips. Bytecoin I think has been proven to be a scam, but not everyone knows that and there's still money to be made on it's fluctuations. Link: bitcointalk.org/index.php?topic=740112.0 Agree with nubs not realizing that 4000 of a shitcoin giving 1% gains isn't as good as 0.25 ETH going up 30 percent. Not a bad Blockfolio tbqh famalam. Could use some Monero. ETH was special because of Smart Contracts. I remember reading the whitepaper when it was $2 a coin and knew it was going to be big. Wasn't invested in crypto at the time though, just was doing initial research. Now we gotta keep a lookout for the 3.0 version of crypto. It's not going to pass us by this time. Too many eyes on the market. This article specifically: econotimes.com/Hedge-Fund-Numerai-issues-1000000-Numeraire-crypto-tokens-to-12000-data-scientists-559889 I saw a few more, but can't source them now that you called me on it. Would be nice. Everyone likes to be all like "muh game theory". Specifically the Prisoner's dilemma. However, there's actually a way both can win, and that's by trusting each other and being trustworthy themselves. Pretty funny really. Gains are gains, doesn't matter to me if the coin is a meme. Here's 5 Chancoins to start you out. I also have a small bag of Bancor that I bought at $4. Thought it couldn't go any lower because of the buyback smart contract... But that was pegged to the price of ETH, which tanked like fuck... Still down 25%
Kayden Sanders
Dropping 5 more for continuing discussion, also I'm on steemit just for fun
Gabriel Carter
Thanks user I received your first 5 but the next 5 are coming up on the wallet as "unconfirmed" but the UI is kinda buggy on my system
Aiden Brown
>2700659 Nevermind it jut went through :) Cheers let's make this thread a regular thing
Luis Taylor
70% BTC and ETH right now, slightly ETH heavy. 30% completely out of balance shitcoins, those are due for a shave to get some more weight back onto BTC. I didn't make it before the downturn so hoping there's still an alt boost to come, of all those EDG is probably the one that's done best the past week or two. Prior to that XSPEC was growing quietly but if the bulls leave I'm not so sure if it can moon.
For now I'm watching the market and reevaluating everything, I've got enough cushion almost everywhere to withstand a bit more of this but unless there's re ignition I'll have to call ogre on the short term shitcoins, take cover and try to work out what to do next.
Ayden Ward
i hope not, peasant. if i could send you dog shit, i would.
Lucas Green
MNE PIVX BAY
Eli Flores
Did you mean >Dogecoin?
Jace Green
Anyone know a decent online Monero wallet?
Carson Taylor
For any long term hodlers of GNT & related, LBRY, IOTA, and SC/MAID & related:
Where is the value coming from for these other than pure speculation? Can you clarify some of my questions or correct my misunderstandings
GNT & related distributed processing - I can't convince myself that GNT will be worth shit outside of academia. It's a great idea (much like the rest of the ones I'm listing) but the costs of GNT seem to far outweigh the benefits. LBRY - is the internet or media going to shit itself so hard that people need to use LBRY? I don't see it making money. IOTA - how will this ever become a trusted system outside of countries that have more cameras than people? The technology seems great - the idea too, but I don't see this getting adopted ever. SC/MAID & related distributed storage - will this ever beat google & dropbox? what are you hoping for here?
Daniel King
Currently holding AGRS and CFI.
Luis Butler
Large holdings in Aragon. The idea (run an organization, trade stocks in companies, have arbitration cases, arbitrate cases for money and reputation) using a cryptoasset seems like it has a lot of potential. Long term hodl.
Dylan Bennett
I like the idea too, but this "every ethereum dev is a millionaire" with the developers on Medium give me the vibe they're just standard silicon valley second gen scam artists.
Jordan Fisher
Absolute price is irrelevant. $1 is an arbitrary price point that could be nothing for some coins or unattainable moonland for others. How cheap a coin is depends solely on market cap, not price per coin. If it makes you feel better, start mentally accounting in millibitcoin or finney (milliether) or whichever subdivision of the coin takes you below your $1 mental value sticking point.
Christopher Baker
I'll argue on behalf of IOTA, having read the whitepaper thoroughly and having invested a significant portion of my capital in it.
Why exactly do you not see it get adopted? It seems to solve a lot of problems that are in the future, namely: >transaction speed BTC and ETH transaction speed will get slower with more users, IOTA transaction speed gets faster with more users >transaction fees BTC and ETH transaction fees get higher with more work, IOTA transaction fees don't exist.
both of the above enable micro transactions now and in the future, both will become more and more important with the rise of the IoT.
>quantum computing BTC and ETH both use ECC. The NSA has deprecated ECC recently over concerns with quantum computing. ECC is not quantum safe. Neither is RSA ofcourse, but relatively ECC is about 4 times less secure. IOTA solves this security issue by simplifying hashing problems, and putting a cap on the maximum amount of work in a PoW value assigned to a transaction, meaning even if one were to posess an enormous amount of computing power, the relative gains would be minimal.
In short the security of every single transaction is the responsibility of the entire network, and it is the assumption that the computing power of "honest" nodes will always outweigh that of a malicious entity. This assumption leads us to the only downside of IOTA i've found. IOTA will be very non-secure in its early years and will require constant monitoring untill the tangle is big enough to support itself. In other words, the success of IOTA fully relies upon massive adoption.
Brandon Morales
Some counterpoints: >transaction fees IOTA has transaction fees, just not monetary ones. It's the proof of work you must do to publish a transaction. It's generally better to pay some trivial amount instead of doing proof-of-work yourself, particularly if you're on a phone or IoT device (as is their supposed main use case) >quantum safe IOTA uses winternitz signitures, which while quantum-safe, are less efficient than ECDSA, and relatively untested. There is more chance of some unseen weakness in a new algorithm, whereas ECDSA has been used for about a decade now. One more thing, IOTA cannot scale beyond the bandwidth capabilities of a single node; every node must see every transaction to check for double spends when they build on the DAG. Again, problematic for their supposed use case of IoT and embedded applications.
Angel Harris
Oh and here's my wallet address i guess. I never bothered with chancoin before so this is as good a place as any to start.
Levi Torres
My PoS PC crashed so i have to type this again
>transaction fees The proof of work required is tiny compared to BTC for example. I don't think this will be a problem. I imagine on small devices like smartlocks this will turn into a small wait, i can't imagine modern phones will have any difficulty. In the end, it still comes down to i send you 1 IOTA, you receive 1 IOTA, and exactly 1 IOTA dissapeared from my wallet.
If you don't agree, please be more specific. I don't exactly understand your issue here i think. Nothing is free, you pay either by computing or by paying someone to compute for you. I don't see any way around this.
>quantum safe Maybe this is because i'm a mathematician, but again i don't exactly see the issue. Yes W-OTS might be less efficient than ECDSA. That is the price we pay for quantum safety. I'll emphesize that the NSA had been using ECC for, as you said, decades, but recently stopped using elliptic curves because of quantum security concerns.
> every node must see every transaction I don't think this is true. A quote from the whitepaper:
"It is important to observe that, in general, we have an asynchronous network, so that nodes do not necessarily see the same set of transactions"
I was under the impression that each node only sees a snapshot of the tangle. Can you elaborate?
Luis Torres
>transaction fees I was under the impression that the PoW was hard, I've seen reports online of it taking a while even on a laptop; that seems unreasonably burdensome for some tiny embedded device >quantum safety I guess it's just a tradeoff that has to be made, but until and unless reasonably powerful quantum computers come about, you don't see any benefit >asynchronous network I interpreted to mean that not every pending or insufficiently confirmed transaction would be known be every node, which seems necessary for the kinds of transaction rates and latencies they talk about. But I assumed that meant that they would still rapidly get the same historical picture of the transactions, since things like the MCMC tip selection algorithm involve walking all over the DAG. In order to build on two transactions you have to check all their history for conflicting transactions, and assuming there's no fork in the tangle that history will rapidly grow to the full width of the tangle. From the whitepaper: >in case there are conflicting transactions, they need to decide which transactions will become orphaned To be aware of conflicting transactions and orphan them, you need to see the transactions they conflict with.
Liam Davis
Etheroll dice. Passive income in ETH. That is all
Hudson Collins
im into chancoin because i have no idea what im doing and wanted to get in on at least one coin at the ground floor
now i need to figure out how the fuck to mine lol
Brandon Watson
ah, yeah the tangle network and its transaction speed & price are the part I like the most about IOTA. I didn't like that the team was selling it as an "uber for things." I just don't see the technology being best applied to leasing things with R/NFIDs. There's some practicality/legality issues - theft and damages come to mind. That said, I think the scalability of tangle should/will compete with FCT, and If i'm not retarded, tangle seemed like it would be great for collecting data for something like healthcare/insurance. Maybe I didn't understand tangle and blockchain exactly right, but the seeming lack of practical and profitable uses makes me weary of investing.
Jaxson Sanders
>PoW I can't imagine the PoW be hard, as IOTA was made specifically with very small devices in mind. This destroys the whole purpose.
>asynchronous network The MCMC tip selection algorithm does not require walking all over the DAG. The MCMC algorithm starts with randomly selecting a site on the DAG with a weight in some integer interval. It's not necessary to go all the way back to the genesis block. It's enough to start at a block some transactions ago.
from the whitepaper: "The main rule that the nodes use for deciding between two conflicting transactions is the following: a node runs the tip selectionalgorithm5(cf. Section 4.1) many times, and see which transaction of the two is more likely to be (indirectly) approved by the selected tip. For example, if, after 100 runs of the tip selection algorithm, a transaction was selected 97 times, we say that it is confirmed with 97% confidence."
Which means in the case that two conflicting transactions are found by a node, it does not need to see the whole tangle to decide which of the sites to orphan.
Evan Campbell
Update: I have downloaded multiminer and put in the details for a chancoin pool and when i start it it crashes with an error
It seems to be trying to use BFGMiner to mine but as far as I can tell BFGMiner isnt suitable for mining scyrpt altcoins.
Any help?
Logan Flores
But you still need to see both transactions to use MCMC to choose which is valid. If the majority of nodes only see one or the other, both will keep getting built on and the tangle will fork unnoticed. Everyone, or at least a majority, needs to check for conflicting transactions or they'll just keep happily building on both forever. To prevent this, when you pick two transactions to approve with your own, you need to check they don't conflict, and don't approve conflicts. Whitepaper, page two: >It is assumed that the nodes check if the approved transactions are not conflicting and do not approve (directly or indirectly) conflicting transactions But each indirectly approves almost the entire DAG, since each approves two and exponential growth ~doubles the number of ancestors at each step until we saturate the width of the DAG. So to check for conflicting transactions in two transactions history requires looking over the whole history of the DAG, at least until the transactions histories merge (pass through exactly the same set of ancester transactions).
Christopher Flores
If you like the tangle network, check out Byteball
David Bell
Decred. It was made by respected bitcoin devs and solves the specific problem of governance that is currently plaguing bitcoin. It will probably be one of the first coins to get LN running and has plans for anonymous transactions in the future. Decred is a nice coin and you should own some
William Long
wtf, didn't read.
ETH, DCR and SIA. SIA will be a new Amazon, DCR is just will moon and ETH is because Vitalik Bogdanoff.
Brody Clark
Not really. If two transactions are part of the tangle, that means that a check was already done to see if there were no conflicts. We only need to check if the two transactions we approve are not conflicting somewhere down the line. We either find a conflict somewhere down the line pretty soon, or we arrive at a point where all transactions are approved by both.
See the picture attached. In green are previously approved transactions. Yellow is our new transaction. We only need to walk down the DAG and check the transactions circled with blue. The other two transactions have already been approved by both of these transactions, meaning there can be no conflict. There is no need to walk through the entire tangle as transactions get confirmed more and more the deeper they are in the tangle.
The forking of the tangle is a legit issue and is handled in chapter 4 of the whitepaper. A rule is in place that makes it infeasible to maintain a split tangle. The tangle reunites, notices the conflicting transactions and orphans one.
Justin King
I realise now i was a little careless
What i meant to say was the yellow transaction will try and verify the two transactions indicated with a yellow arrow going to them. These transactions are already part of the tangle, so have already verified some transactions themselves. We only need to check if there is no conflict in these two transactions, and all transactions that are not verified by both.
As you can imagine the set of transactions that is not verified by both will not span very far into the past.
Jacob Martinez
I'm totally new to this game; how do I actually buy certain coins? (I'm seated in Europe)
Jaxon Thomas
>lack of practical and profitable uses what do you mean? Do you mean currently implemented? IOTA relies on widespread implementation, which is a big weakness imo, especially for a starting company. The potential uses look very promising to me tho
Lincoln Peterson
use coinbase or kraken to send fiat. if using coinbase send your fiat to gdax. if the coin you want isnt on a big exchange then buy btc and send it to the given exchange. welcome to Veeky Forums enjoy your stay!
inb4 you get addicted to trading, lose all your money and start sucking dick for dogecoin
Juan Cook
>Digibyte The majority of my portfolio. Bought in at 600 so still holding and hoping for the best. It's the fastest coin I've ever seen and gamers are a huge untapped market that I think has a lot of potential. Will probably sell some once it makes it past 1000 and hold the rest. >Edgeless Second biggest coin, made 100% gains in the last month and the casino is coming soon. Gonna sell for my initial investment at the top of the release pump and then hold the rest for a while and see where it goes >Minereum Hidden coin that has been slowly accumulating over the past month. Waiting for it to finally hit the big exchanges for a big pump which I will then use to fund my daytrading
Zachary Bailey
This is sort of what I was saying with looking back until the transaction histories merge, and the problem is this requires you to know and check every transaction across the width of the DAG at the "common ancestor point", and two narrowing cones of transactions with the originals at the tips (not really apparent in your diagram, but larger in wider tangles). Since adding your own transaction requires knowing the whole past width of the tangle, and you don't know in advance when you want to send a transaction, you always have to keep track of all the transactions in case they later form part of the ancestors of a transaction you need to verify. You don't need to store this after some secure time, but you do need the bandwidth to see and verify it at first.
Isaiah Ramirez
I think what you mean is that you always need a snapshot available that is deep enough to go back from any tip until we reach a level of complete concensus. I think this is correct, and i don't think the required snapshot is very large. Do you think this will be a problem?
Jackson Hill
> 5. Shift (SHIFT) - Ten percent in this one. Not saying anything about the tech, but the devs tried to make new coins for gains. Not really a good investment.
Leo Kelly
Over 5k CFI hodler here. Waiting for the dashboard for wallet confirmation for upcoming ICOs (X8 et al). But why does the price keep dropping though?
Ethan Hill
Are you Santiment Community or CFI PP for Santiment ICO?
Henry Flores
This is equivalent to seeing every transaction, and the bandwidth cost that entails.