Cryptocurrencies Part II - No more forks for you

[The Crypto Guy]

Why bitcoin could rally more than 70% in the coming week, Fundstrat’s Lee says

Fingers crossed, everything would go up. Seems too good to be true though

 

[waffledave]

A lot of people agree that they will face problems down the line and fees build and confirmations get longer and longer. He pretty much nailed it when he said bitcoin will be the myspace...eventually people will move on from it to something better.

Wasn't the BTC-Myspace comparison made on this Sunday's episode of Silicon Valley?

 

[The Crypto Guy]

Wasn't the BTC-Myspace comparison made on this Sunday's episode of Silicon Valley?

Haven't watched this weeks ep yet, but I know they have been mentioning blockchains/bitcoin this season which is pretty cool.

 

[YNWA14]

Unless im reading it wrong, he predicts this overload that will cripple bitcoin would happen 2 years ago

Yeah I mean, the timeline itself isn't necessarily what I was referring to. More to the general idea of the article.

A lot of people agree that they will face problems down the line and fees build and confirmations get longer and longer. He pretty much nailed it when he said bitcoin will be the myspace...eventually people will move on from it to something better.

It already happened in December/January during the first huge boom. Bitcoin's dominance of the market has been decreasing IIRC and yes, I agree that people will move on from it sooner than later.

 

[The Crypto Guy]

Whales out in full force

 

[Gardner McKay]

Whales out in full force

Negative. UpBit was raided by South Korean officials.

 

[The Crypto Guy]

Negative. UpBit was raided by South Korean officials.

Upbit is such a tiny exchange, shouldnt have effected anything but people loveeee to panic sell.

Big whale Mt Gox moved 8200 bitcoin yesterday, i’d say that was more the reason of the price drop, they were a huge reason of the price drop during the beginning of the year . Everytime they do something the price goes down

 

[Gardner McKay]

Upbit is such a tiny exchange, shouldnt have effected anything but people loveeee to panic sell.

Big whale Mt Gox moved 8200 bitcoin yesterday, i’d say that was more the reason of the price drop, they were a huge reason of the price drop during the beginning of the year . Everytime they do something the price goes down

I'm not sure what you are looking at. UpBit is one of the top 5 exchanges in the WORLD for volume. It is an absolutely HUGE deal.

 

[The Crypto Guy]

I'm not sure what you are looking at. UpBit is one of the top 5 exchanges in the WORLD for volume. It is an absolutely HUGE deal.

You're right, they are big in Korea. Regardless nobody seems to be talking about it much so it doesn't appear to be a big deal.

 

[Gardner McKay]

You're right, they are big in Korea. Regardless nobody seems to be talking about it much so it doesn't appear to be a big deal.

Its been everywhere!

Cryptocurrency Exchange Upbit Raided by Korean Authorities
Korea's Biggest Crypto Exchange Raided Over Suspected Fraud - CoinDesk
Bitcoin drops to 3-week low, other cryptos plunge after prosecutors raid largest Korean exchange
UpBit Raided by Local Police for Fraud | Crypto Market Drops

South Korea's largest crypto exchange raided by prosecutors

 

[ScottishCanuck]

That's the nice bit of positive momentum over then. Below 400m again.

 

[The Crypto Guy]

This week should be the big week with Consensus 2018 starting tomorrow!

Prices already starting to go up again as the hype begins!

 

[void]

Hope you guys sold your OCN before the big dump today

 

[Gardner McKay]

Hope you guys sold your OCN before the big dump today

It was impossible to time that unfortunately. The airdrop was NOT what people were expecting and its also further away than most expected.

Not sure if you all are listening to the consensus stream. Its pretty good stuff. Some bigwigs that were just speaking were talking about how they see crypto being a game changer for supply chain.

 

[Gardner McKay]

What is interesting is that the current speaker sees Crypto running parallel to traditional currency but not completely replacing it. He sees it as a game changer to help prevent/safeguard from hyper-inflation like we are currently seeing in Venezuela.

 

[Gardner McKay]

Consensus 2018 - Live Stream - CoinDesk

Here is the link if you want to listen. If you're even remotely interested in the sector, how it relates to traditional money exchange as well as its potential impact on economics, I would definitely listen.

 

[YNWA14]

Not related to that but apparently Mitsubishi Financial Group and Standard Chartered are going to start testing using Ripple and I believe XRP in May. Pretty huge news, that. Especially since all the tests so far by other large entities have gone really well, SBI opening its XRP/Crypto exchange in the summer, etc. Then there's their attempt to break into the derivatives market as well as adding smart contracts to their ecosystem via CODIUS.

When Ripple starts breaking through again I think it's going to be in a very big way.

 

[Gardner McKay]

Forgot to post this last week. NVO is still chugging along. There is an issue with counterparty and CMC not recognizing the tokens for some reason. Shouldn't be an issue for too much longer.

This from one week ago from the lead developer, Imed:


Since the last update 1.1.0 the team is focusing on the release of 1.2 and bug fixes for 1.1.x, talking about the last one, another update will be pushed mostly focusing on the cluster connections and management.
For the V1.2.0, a lot of new features will be implemented, either on the Code side or in the Design side, let me give you some of them :
New design inclusion.
Implementation of Firebase.
New Feature : Sign message, for all the cryptos.
New Feature : Disable intro video.
New Feature : Set amount of threads.
New Feature : Set GAP size.
New Feature : Set API refresh rate.
New Feature : Disable/Enable Coins.
New Feature : Import/Sweep ability.
New Feature : Recovery from Mnemonic.
New Feature : Multiple accounts for the same wallet.
OPTIMIZATION : Addresses, sort the addresses as receiving addresses, change addresses, imported addresses.
OPTIMIZATION : Transactions, sort the transactions by transaction type, send receive, by crypto, by date, by value.
OPTIMIZATION : Addresses, enable Gap management
OPTIMIZATION : Addresses, add different addresses type, BC addresses for bitcoin, secret based addresses for XRP
Enhancement : In-wallet separation of concerns using a storage layer between front and back.
DATA MODELS ENHACEMENT : Rework the global object and reduce duplicated datas.
Write unit tests, integration tests, and general test modules.
Critical Feature : add "Send Max" button.
Critical Feature : UX improvement, need to catch "enter key" in login screen.
The V1.2 is supposed to be a mature release, and will be used as core base for the inclusion of the other features of the whole project, which why it is the priority.
As of now, the due date for 1.2 is set for june-jully, it will still depend on other factors and may need more time then originally planned.
Actually the team is working on the inclusion of the new design and separation of concerns, it already started and will take some time, we are also working on enabling multiple users per wallet by changing the structure of the global data storage objects and interfaces.
The V1.2 will be compatible with V1.1, but as always we advise to backup the wallet. Once v1.2 is out, the backup formats will be frozen as there will be more informations into the backup file, and depending of the state of v1.2 and if we have enough time, we may also add a custom backup feature where you will be able to decide wether to backup some elements beside of the mandatory ones, and preferably creating backups compatible with other wallets.
Regarding Veserus, we have crypto to crypto trading, we will have crypto to fiat liater, still need the platform's policy, term of use ... They SHOULD be ready for about two weeks, which when we are supposed to release Veserus.
Please guys understand that nothing is easy to do, and nothing comes in time, there are always things that happen in the middle and bother you, we always provide dates, and really do our best to meet the engagements, but it is really hard. Anyways, there are more surprises coming, and the wallet will be a nexus point in the middle of these.
Something else, we are expecting the mobile wallet with v1.3, as of now, v1.3 will be less consistent compared to 1.2, and focused on new features and mobile version.

 

[YNWA14]

Turns out that UpBit thing was a misunderstanding and there was no fraud committed. Another 'mistake' leading to unnecessary FUD.

 

[Gardner McKay]

Turns out that UpBit thing was a misunderstanding and there was no fraud committed. Another 'mistake' leading to unnecessary FUD.

That is good to hear.

Seems as if consensus has been a bust this year - at least in terms of a market upswing.

 

[The Crypto Guy]

Turns out that UpBit thing was a misunderstanding and there was no fraud committed. Another 'mistake' leading to unnecessary FUD.

Yawn, what else is new. More unwarranted FUD. Every week there is some fake news article out to try and keep crypto down. Won't last forever though. At this point the real morons are the ones who keep selling every time they read something..

 

[The Crypto Guy]

That is good to hear.

Seems as if consensus has been a bust this year - at least in terms of a market upswing.

Yup. Whatever we think is going to happen with the market, the opposite happens

It's pretty mind blowing too with all the good info coming out from the event.

Even with big news like this Amazon is moving into blockchain with a new partnership

 

[The Crypto Guy]

China Ranks Ethereum as the World’s Best Blockchain Network, Bitcoin at No. 13

Earlier this month, South China Morning Post, a major publication based in Hong Kong, reported that China’s public blockchain rankings were developed by China Center for Information Industry Development (CIID), an institute that works closely with the government to advise on policymaking in technology.

The high ranking of Ethereum and smart contract blockchain networks could influence the government to potentially allow some blockchain networks to operate in China.

 

[What the Faulk]

This bear turn is frustrating after it looked like we were going to break 10k again. Something I've noticed over the last month or so (or more), though, is that Coss seems to do the opposite of everything else. It's still on an overall decline since nobody is really using it, but whenever we have green days, it's in the red. Whenever we have red days (like today), it's in the green. Wonder if that's a potential profit mining situation.

 

[ScottishCanuck]

Everything sucks at the moment. There's no confidence in the market.