World's Largest Bitcoin Mine Found In Small Town Rockdale

‘Bitcoin of the Middle East’ Scam Lands Canadian Expat in Dubai Jail

‘Bitcoin of the Middle East’ Scam Lands Canadian Expat in Dubai Jail submitted by a36 to AllThingsCrypto [link] [comments]

‘Bitcoin of the Middle East’ Scam Lands Canadian Expat in Dubai Jail

‘Bitcoin of the Middle East’ Scam Lands Canadian Expat in Dubai Jail submitted by Ranzware to BitNewsLive [link] [comments]

ELI5: The idea of "Bitcoins" sounds to me like crazy Internet nonsense, and smells like a good way to get scammed out of real money and/or land in trouble with the tax man. But I don't really know why.

submitted by RonPolyp to explainlikeimfive [link] [comments]

Scammer Josh Garza's BTC.com landing page updated to say "Coming Next Week" with the ridiculous tag line "BTC.com - The Birthplace of Cryptocurrencies". I can't wait to see the newest scam that this clown comes up with. (xpost /r/bitcoin)

Scammer Josh Garza's BTC.com landing page updated to say submitted by ladrx to paycoin [link] [comments]

Scammer Josh Garza's BTC.com landing page updated to say "Coming Next Week" with the ridiculous tag line "BTC.com - The Birthplace of Cryptocurrencies". I can't wait to see the newest scam that this clown comes up with. (xpost /r/bitcoin)

submitted by ladrx to joshgarzaisafraud [link] [comments]

My Mother (56F) is involved in a Romance Scam and is in denial.

This is one of my first posts, I apologize for any formatting mistakes.

My mom is the only person in my family I have frequent contact with, as we are a pretty loose-knit family. I couldn't imagine losing her but I'm reaching my breaking point.
My mother for the past 3 years has fallen in and out of online dating, every man she has met on these dating sites have turned out to be scams, I know of at least 4 scam relationships, though I suspect she isn't telling me about a few.
Regardless I did live with her for at least two of these scams and it resulted in her losing close friendships and even jobs. She fell behind on Rent and we were forced to move into a hotel for a few months until she could get back on her feet.
Her most recent case ended up with her stranded at an airport for a day because a guy she met online failed to show up to the airport she arrived at. And at that point I thought she was well aware of her error and would never fall victim again.
Unfortunately my presumption was wrong, as she is talking to a guy she was scammed by two years ago. When I question her about it she says that "he's changed", and that "it's different" this time. This man's name is "Steven".
"Steven" is stuck in South Africa because he allegedly has a plot of land he has been trying to sell for 2 1/2 years now, and needs money to pay off some sort of tax. And for the past month my mom has basically been a money mule, receiving money from what I can assume are more victims of Steven and cashing the checks she receives, after which she converts the money into bitcoin and transfers it to Steven.
My boiling point was reached when she tried to get me to transfer bitcoin to Steven because her account was suspended. I told her that I was uncomfortable with that and didn't want to do it. She got angry with me and lectured me about how she would do anything for me and I should just do this for her. She asked me all day to do it and I refused every time, she eventually god fed up and said that she would never stick her neck out for me again.
This was two days ago. I can't even begin to figure out where to start with helping her. I've already gone through the process of disproving "Steven"s story, as he refuses to provide an address with the land he supposedly has, the only contact they've had is facetime. I don't know what else to do, she refuses to listen to anyone trying to argue against her about Steven. I've offered to take her to therapy multiple times and she has refused every time. All of the friends she had are gone at this point so I can't organize an intervention. Every time I try to talk to her about it if I even try to question or criticize her actions she claims that I'm judging and lecturing her.
I could really use some advice, I'm at the end of my rope and don't know what to do.
tl;dr My mom is stuck in a repeating romance scam cycle and refuses help from anyone.
submitted by ClubSpecialist to relationships [link] [comments]

Twitter Hack

The news is reporting it as a Bitcoin scam. It's not. It's a direct attack by a sophisticated group.
I know this for a few reasons.
1) All Bitcoin that was "stolen" is publicly registered, so none of the Bitcoin can even be used.
2) There are much better ways to scam money than hacking large accounts for a phishing scam. Namely one could post that Elon Musk has passed away (one of the accounts that was hacked), and short Tesla stock. Untrackable, unlike Bitcoin.
3) This is one is separate from the other two, but why were only leftist accounts hacked? All had two party authorization, meaning all nine or ten people's phones are hacked. Coincidence that they all so happen to be hardcore leftists... Hmmmmm
4) Also, now that those accounts were hacked, all Direct Messages from those individuals are exposed. Imagine the type of danger a country could face if all of it's leaders communications are exposed.
5) One day before the largest cyber attack in history, President Trump's passes a sweeping bill targeting China.
At this point we all have to see what is really happening. Everything that is happening this year is because Trump is attacking China. I believe even this pandemic has root in Chinese Government. What so happens to be funny is all of these people that were "hacked" have financial ties to China
Go look at the disgusting things China is doing; taking land from other countries that "belongs" to them, taking and demolishing homes from their own people, putting their own people in internment camps, and harvesting their organs to sell. That's not even to mention the flooding the government is responsible for, affecting 300,000+ people. What we are dealing with is our generations Nazi Germany.
Edit:
https://www.google.com/amp/s/www.wionews.com/world/chinas-hunger-for-others-land-knows-no-limits-its-latest-target-is-russia-310561/amp
https://www.google.com/amp/s/www.businessinsider.com/china-harvesting-organs-of-uighur-muslims-china-tribunal-tells-un-2019-9%3famp
https://www.google.com/amp/s/www.independent.co.uk/voices/china-religious-ethnic-minorities-organ-harvesting-uighur-muslims-falun-gong-brexit-a9120146.html%3famp
https://www.google.com/search?q=xinjiang+internment+camps&oq=xinjiang+internment+camps&aqs=chrome..69i57.8636j0j4&client=ms-android-tmus-us-revc&sourceid=chrome-mobile&ie=UTF-8
I mean, have you even heard of the Yulin festival, which other countries allow humans to do that without repercussion?
This is someone telling the United States that we own your booty nothing less.
submitted by SlyGuySlim to conspiracytheories [link] [comments]

The Elites Twitter Accounts were not Hacked. They sent money to there breakaway civilization.

The Twitter accounts of some of the most prominent U.S. political and business leaders, from Barack Obama and Joe Biden to Jeff Bezos and Warren Buffett, were hacked Wednesday afternoon in an apparent effort to promote a Bitcoin scam. The attacks were stunning in scope and almost certainly coordinated. Others whose Twitter accounts were caught up in the security incident included Bill Gates, Elon Musk, Kanye West, Uber Technologies Inc., Apple Inc. and Michael Bloomberg, the founder and majority owner of Bloomberg News parent Bloomberg LP. The accounts sent out tweets promising to double the money of anyone sending funds via Bitcoin within 30 minutes.
So you’re telling me in a day and age where Twitter can make or break someone Anonymous Hackers Hacked Americas most powerful companies and rich people accounts and only used the “limited access” they had to scam for bitcoin? Which just so happens to be “untraceable” funds?
Ya Im not buying it. 1st of all: Its a American Presidential election year and if you hacked any Presidential accounts running for the highest office in the land you would not just use it to scam for bitcoin. A lot of people if they had access to these accounts would troll the hell out of America. My evidence for this theory is look at what happened to Trumps account. A Twitter employee who was fired before he left used his access to delete Trumps account before it was restored for like 5 minutes. He did not use it to scam for bitcoin.
One tweet can make or break the stock market. Your company or your reputation. And you use it to scam for bitcoin. Ya okay. Yet at the same time the untraceable funds that they successfully scammed out of people is going somewhere. My guess is to the Breakaway Civilization thats being built by these billionaires like Elon Musk, Bill Gates, and Warren Buffet. Musk especially has had a lot of success with his Rocket technology.
Edit: Why is this post instantly at 0 the moment I posted? I get shit for bringing politics into this sub yet I post a real conspiracy theory and instantly downvoted to 0 never to see “rising”.
submitted by Stevemagegod to conspiracy [link] [comments]

Activities Report: Decred en Español Proposal 2 from June 8th to July 8th

Activities Report: Decred en Español Proposal 2 from June 8th to July 8th
Report of Activities - Decred en Español Proposal 2
Activities Report: Decred en Español Proposal 2 from June 8th to July 8th
Events:
Videos:
Social Media Content:
News and mentions:
Business Development conversation:
  • TravelbyBit and Travala talks for corporate account and DCR integration
  • TechwithCatalina for content creations and cross marketing campaings
  • LumitHub for sponsorhips of academyc resources
  • Lvna Capital
  • Blockchain Summit Uruguay
Next steps:
  • Continue with monthly events and social media content
  • Follow up on business development conversations
  • Article on marketing challenges for Cointelegraph in Spanish
  • Articles on DEOs and remote working for Talent Republic and Cointelegraph in Spanish
  • Growing new Telegram group for developers
  • Conversations with hacking communities for online webinars
Full report https://github.com/DecredES/Monthly_reports/blob/masteReport_1.md
submitted by dcrlatam to decred [link] [comments]

Twitter Hack

The news is reporting it as a Bitcoin scam. It's not. It's a direct attack by a sophisticated group.
I know this for a few reasons.
1) All Bitcoin that was "stolen" is publicly registered, so none of the Bitcoin can even be used.
2) There are much better ways to scam money than hacking large accounts for a phishing scam. Namely one could post that Elon Musk has passed away (one of the accounts that was hacked), and short Tesla stock. Untrackable, unlike Bitcoin.
3) This is one is separate from the other two, but why were only leftist accounts hacked? All had two party authorization, meaning all nine or ten people's phones are hacked. Coincidence that they all so happen to be hardcore leftists... Hmmmmm
4) Also, now that those accounts were hacked, all Direct Messages from those individuals are exposed. Imagine the type of danger a country could face if all of it's leaders communications are exposed.
5) One day before the largest cyber attack in history, President Trump's passes a sweeping bill targeting China.
At this point we all have to see what is really happening. Everything that is happening this year is because Trump is attacking China. I believe even this pandemic has root in Chinese Government. What so happens to be funny is all of these people that were "hacked" have financial ties to China
Go look at the disgusting things China is doing; taking land from other countries that "belongs" to them, taking and demolishing homes from their own people, putting their own people in internment camps, and harvesting their organs to sell. That's not even to mention the flooding the government is responsible for, affecting 300,000+ people. What we are dealing with is our generations Nazi Germany.
https://www.google.com/amp/s/www.businessinsider.com/china-harvesting-organs-of-uighur-muslims-china-tribunal-tells-un-2019-9%3famp
https://www.google.com/amp/s/www.independent.co.uk/voices/china-religious-ethnic-minorities-organ-harvesting-uighur-muslims-falun-gong-brexit-a9120146.html%3famp
https://www.google.com/search?q=xinjiang+internment+camps&oq=xinjiang+internment+camps&aqs=chrome..69i57.8636j0j4&client=ms-android-tmus-us-revc&sourceid=chrome-mobile&ie=UTF-8
I mean, have you even heard of the Yulin festival, which other countries allow humans to do that without repercussion?
This is someone telling the United States that we own your booty nothing less.
submitted by SlyGuySlim to conspiracy_commons [link] [comments]

The Man Who Looked For Unicorn—A MGTOW Fable

A MGTOW Fable
Written by ThePenitentMan38
Once upon a time, high in the mountain meadows in a far away land, lived a herd of magical unicorns. They were beautiful creatures, with a glittering horn, flowing mane from the poll to the withers, and creamy white coat. Unicorns were great companions. Not only that they were beautiful, they were also affectionate and obedient. They thrived on love and could take on female human form at will. Adoring men from four corners came to court them and tried to win their love. But, as Fate would have it, a hideous succubus called Féminisme lived in the jagged volcanic mountains overlooking the meadows. She became jealous of the attention the unicorns were getting from men. She went to her lair and concocted an evil magic powder. With her outstretched claws, the succubus flung the magic powder into the four winds, and one by one, the unicorns were transformed into creatures now commonly called WOMEN.
Women held strange sway over men in this land. A short darting glance or a slight head toss would get a man hooked. A quick BJ and a little moggie and the man became a willing slave in the plantation. Women in this land were naturally born gymnasts. They swung from branches to branches, always aiming for the higher bounty, while totally oblivious of the devastation on men. Men corralled in the plantation walked on eggshells under the watchful eyes of women. The slightest infraction might land them in divorce court, followed by years of ruinous alimony and child support. There was much suffering in the land. Yet legend had it that a handful of unicorns did survive the evil magic, and suffering men everywhere were yearning for a unicorn.
A young lad of 18 saw the suffering of his elders and thought to himself: “I ain’t going to put up with this sh*t!” He tossed a couple of Gatorade and Hot Pockets in his backpack and some Bitcoins in his pouch, and off he went in search of his unicorn. For days the young lad walked and found no sign of his quarry. On the 14th day, he chanced upon a roadway inn. There he saw an old timer nursing a mug of ale at the corner table.
“Greetings, kind sir.” The young lad said respectfully. “ I am looking for a unicorn. Do you happen to know where I can find one?”
The old timer lifted his weary eyes, looked at the young lad and said, “Unicorn does not exist, son.”
“But…but, kind sir. I read about them in books of old and saw them in romantic motion pictures,” protested the young lad.
“They are lies, son. They are nothing but figments of imagination by romantic novelists and scriptwriters,” said the old timer.
The young lad became angry: “What do you know, you drunken old fool! You are old and ugly, an incel of a man. That’s why you never found a unicorn. I am young, strong, and handsome. I will find my unicorn.”
The old timer shook his head in resignation and pointed to the direction up the road. As the young lad walked up the path, he thought that the old timer might be pointing him to a wrong direction, just to be rid of him. But he was wrong, because up ahead, he saw a big sign that said “Unicorn Rescue”. In the stable, he saw a number of unicorns with their glittering horns, flowing mane, and creamy white coat. But the adoption fee was steep—3 Bitcoins per unicorn. At today’s exchange rate, he could purchase a decent automobile with them. But he thought a unicorn was worth the fee. He could see in his head years of love and enjoyment with his unicorn and he closed the deal.
As the young lad was leading his unicorn down the path, he noticed that her glittering horn was leaning to one side. Upon close inspection, he saw that the horn was nothing but a piece of plastic secured with Gorilla Glue and his unicorn was indeed a horse. The mane was fake hair extensions and the coat was covered with talcum powder to make it white. He had been scammed! The young lad was furious, not so much about the money but the cruelty those scammers inflicted onto the animal. He vowed to report them to the ASPCA. He raced up the path to give the scammers a piece of his mind. But before he could get himself half way through the door, he was bodily picked up by two beefy bouncers and thrown onto the dusty street. The scammers obviously had years of experience with naive young lads like him. The young lad picked himself up and said, “I will not let you get away with this. I will sue you in court.”
But the only court he could find in that small town was a family court. The courthouse was packed with weeping women, screaming children, and grumpy men. The court was presided by a stern-looking elderly woman judge. On her left was a sign that said : “For the best interest of children only”. On her right was sign that said: “Believe all women”. Up on the rafter was a large banner that said: “#MeToo”. The deck was indeed stacked against him.
The young lad sat on the bench for what seemed to be hours for his case to be heard. But before he could finish making his case, the judge interrupted him abruptly. She had no patience for such nonsense as unicorns. His case was thrown out of court, but not before he was levied a court cost equal to half of his possessions. Years later, he was told that no man ever made out of a family court without half of his wealth taken away, one way or another.
Defeated, the young lad continued to roam the land in search of his unicorn. He steadfastly held onto his belief that unicorns did exist. Years had gone by. One day, he chanced upon the roadway inn where he encountered the old timer years ago. As he was nursing his mug of ale at the corner table, he was startled to hear the voice of a young lad, who said, “Greetings, kind sir. I am looking for a unicorn. Do you happen to know where I can find one?” Just before he uttered the words: “Unicorn does not exist, son”, he remembered the abuse he heaped upon the old timer. At that instance, he realized that the truth of unicorns would only be revealed to men who were looking for them. He pointed to the direction up the road and the inquiring young lad happily resumed his search for his unicorn…
Bless me, Father, for I have simp'd--ThePenitentMan38
submitted by ThePenitentMan38 to MGTOW2 [link] [comments]

STATERA

STATERA
…a smart contract deflationary token within a portfolio of selective coins/token built on the Ethereum blockchain.
INTRODUCTION
BLOCKCHAIN TECHNOLOGY IS CHANGING, DEFI IS EVOLVING! Blockchain technology is changing the World forever, over the past decade, the introduction of blockchain technology to the world and especially the world finance system has proven how convenient and secured the World's finance system can be. Blockchain has proven its' worth to be an essential tool in the world finance system. Varying from a different mode of transaction to the flexible usage of it.
The Ethereum blockchain has played and still playing a significant role in Blockchain finance evolution. With over a hundred projects out there, each aiming and claiming to solve the problem of financing system in the world, Decentralized Finance DeFi has proven to play an essential role in this regard.
Deflationary Projects arise amidst the flow of developers developing ways of making a project unique and scarce through constant reduction of total supply during a transaction. Over the past few years, many projects attempted this approach, however, they failed to achieve this goal as a result of the unsustainability of the project, or the utter intent of some of the developers to scam people of their money. Nevertheless, previous deflationary cryptocurrency attempts have proven the fact that this method alone will not make a project unique or scarce. Hence, a few projects attempted to apply other interesting features to their deflationary projects, some of which are discussed briefly below.
DEFALTIONARY PROJECTS
Through a constant reduction of total supply as a result of a certain percentage of each token transaction sent to 0x address, a deflationary project aims to reduce its total supply to make it scarce, thus increasing the demand and value of the project.

BOMB
The first project to start this on-chain action was BOMB token. With every transaction on BOMB, 1% of the supply is sent to 0xaddress and lost forever, this is known as BURN. Unfortunately, this didn't work for a long time as anticipated, turns out it takes a project more than just that to make it demanding. In light of this, a few other deflationary projects decided to add extra features to its deflationary attribute.

SHUF
A good example of this is another deflationary project called Shuffle Token (SHUF) burn 1% on every transaction, and randomly send another 1% to any of the top 512 holding addresses, this second feature is known as Heap.

BSOV
The third example of a deflationary project with an extra feature is BitcoinSov (BSoV). This deflationary project also has a 1% burn, but its extra feature is mining. This is the only mineable deflationary project in existence as of today.

RTK
The last example is Ruletka (RTK). Ruletka is an experimental ERC20 token, it was developed in the small town of Alatyr in Russia. When a transaction is made using RTK a number is chosen between 1 and 6. If 6 is chosen, the coins in the transaction will be sent to the 0x address and burned. It was developed based on the legend Russian Roulette life gambling game.
Regardless, deflationary projects are yet to receive the world's attention as most of them struggles to be sustainable.
INDEX FUND
For the past two years, Decentralized Finance or DeFi has been undergoing a series of changes and development. DeFi is aimed at providing solutions to the challenges being faced by traditional financial systems using Etherium blockchain as its primary station.
What is Index Fund?
Investopedia.com described index funds as a type of mutual fund with a portfolio constructed to match or track the components of a financial market index, providing broad market exposure with low operating expenses and low portfolio turnover.
Market Index
A hypothetical portfolio of investment holdings representing a segment of the financial market. The calculation of the index value comes from the prices of the underlying holdings. Investopedia. 2017 was a significant year for crypto, however, was succeeded by the extended bear market. The long bear market made it difficult for investors to select which market they are to invest in. since the rise of the crypto market, it has been experiencing a series of ups and downs, making it difficult, especially for retail investors to select the market they are to invest in. the idea of index market in the blockchain industry is something not usually mentioned, while most investors preferred to long or short on BTC or other Alts.
CRYPTOCURRENCY INDEX FUND
Late 2019 and early 2020, cryptocurrency index funds are becoming an item of discussion and interest in the cryptocurrency investment world. A cryptocurrency index fund prevents an investor from the stress of constant or active management of their crypto fund portfolio.
They help spread risks by diversifying an investment across a broad selection of coins, protected from the crypto market volatility. This means your fund is being handled for you, which of course necessitates a form fee. While fees vary from one index fund manager to the other, the differences in fees don't guarantee the performance of one manager over the other. Among the popular cryptocurrency index funds that are currently available on the market as of 2020 includes:

  1. Coinbase Index Fund
  2. BB Index
  3. Iconomi
  4. CBI Index 7 (CBIX7).
Note: this article does not prescribe an index fund or tokens for readers to invest in, rather make your research before investing.
INDEXED-DEFLATIONARY TOKEN
The idea behind an indexed deflationary token is to keep cutting the circulating supply on a transaction basis, coupled with an investment in diverse selective coins on the Ethereum blockchain market.
Using balancer, the idea is to have a deflationary token inside a pool with other assets for example; USDC, ENJ, LINK, KNC, etc. along with the deflationary token itself, all of which are in one pool. When the token is bought, it will automatically re-balance into other sets in the pool, increasing the trade volume and at the same time burning. A mix of index/portfolio token with a deflationary token.

STA
STATERA [STA]
Statera, in Latin, means Balance. STA is a smart contract deflationary token within a portfolio of selective coins/token built on the Ethereum blockchain. The index portfolio includes four Volatile markets and three Stable markets; ETH, MKR, SNX, LINK, DAI, SUSD, DZAR. Leaving STA with 70% volatility and 30% stability. STA is built on a smart contract, holding all the funds including STA itself.
When STA is purchased with ETH, ETH is spread into the weight in the portfolio and STA purchased gets removed from the index amount. The index suit is not fixed, i.e. the coins in the portfolio can be easily replaced should in case the market demand for a change.
The index also charges a fee. Every time a trade is executed through it (not a purchase of STA this time around, but swapping DAI for ETH for example), 1% stays behind and is shared between the portfolio. With the deflationary attribute of STA, the more trades that occur, the more valuable it becomes. The idea is that a price difference will lead to auto-balancing, which means burning. There you have it, An Index-Deflationary Token.
STATERA [STA] TOKEN INFORMATION
Total Supply: 100, 000, 000.
Burn rate: 1% on each transaction.
Blockchain: Ethereum.
Website: Coming Soon.
Community: Telegram Twitter
Contract address: Etherscan
Portfolio address: Zerion
Current exchange: 1inch Exchange
submitted by ghosthunter_01 to ethtrader [link] [comments]

Industry Insight shared by WaykiChain CEO, Gordon Gao

I think it’s the best thing that can happen to DeFi. Because all these things help expose underlying problems, such as economic bubble, indiscriminate leverage, credit crisis, which can cause people to distrust the financial system. And DeFi is the revolution against the traditional financial system, it is a complete subversion. Paul Jones thinks that the government over issued currencies, so he needs to transit his assert to Bitcoin. Crisis means opportunity. The traditional financial system has long-existing problems. Most of the assets were made by capitalists, some in reasonable ways, while the others are simply robbery. But most of the people didn’t realize it. Henry Ford says, people don’t even know how our currencies and bank system works, which is good, since if they know, there will be a revolution before the next morning. Now all kinds of black swan events can make people aware of risks, and before the final risk comes, choose a more transparent and fair way to participate in finance.

Most public chains have explored for a long time. Last year, many people said that the public chain industry was dead, but I feel that they just didn’t find the rigid demand for landing applications. Now everyone has begun to understand that DeFi is the best way out of the public chain. WaykiChain started to develop the first product of DeFi in March last year-The stablecoin and collateral loan agreement (WaykiCDP). However, it was not popularly called as DeFi at that time. Now, what we start with is to find a rigid-demanded scenario for the blockchain landing, and shorten the user’s path to enter into ecology. In this circle, most of the people are speculators and investors who hold two big needs of borrowing and making money, and DeFi is doing this business. From another perspective, the emergence of Bitcoin has created a new currency, and the role of public chains and smart contracts is to allow the currency to circulate under certain rules. Isn’t this just finance? In other words, if blockchain can’t even do finance, then it is just a scam.
The size of the DeFi industry can be roughly measured by the value of lock-up. Ethereum, as the largest DeFi platform at present, occupies most of the market share. Now the lock-up value on Ethereum is around USD 1 billion. Since last year, other public chains have started to have DeFi applications, including WaykiChain, cosmos, Polkadot, TRON, etc. The current DeFi scale on WaykiChain is not as good as Ethereum in terms of absolute volume, but in terms of the proportion of DeFi locks, WaykiChain definitely has the highest proportion so far, reaching the total of 17%. In terms of absolute volume, only niche players in the currency circle participate in DeFi, but DeFi has maintained market growth in the past two years, and the amount of lock-up positions has risen sharply, so the entire market still has a lot of room for each project party to explore.
I like this question, so I will spend more time explaining it.
I think the difference of DeFi can be shown in 3 points:

DeFi can change the role people play in the financial system. In traditional finance, as an ordinary user, your role and participation process are very limited. However, this limitation is determined by all aspects, such as the credit problem, the threshold of the number of funds, as well as the license and the threshold of power, and so on. Such limitations often make ordinary users vulnerable groups in the financial system. And under the rules of the top class, wealth will always flow to the top. For example, global currencies have been issued continuously, have we participated in the decision? No. Has it been issued to individuals? No. We can only see that the world keeps issuing money, and the money in our hands is depreciating, while there is nothing we can do. But DeFi is different. Let me give an example. WaykiChain DeFi's governance coin WGRT, the holder has both the power of governance parameters and the benefits of the interest and penalty of the entire system. This is a role you cannot play in traditional finance. In DeFi system, it is full of fairness.
DeFi can reduce financial costs. Since the beginning of the industrial era, the global financial structure has remained unchanged, relying heavily on various intermediate institutions. Central banks, investment banks, commercial banks, securities companies, etc. It can be said that any financial activity needs to have more than one intermediary profit from it. For example, in addition to the loss of the price difference of a transaction, a transaction also includes brokerage commissions, exchange transaction fees, stamp duties of regulatory authorities, etc. The price difference earned by these so-called "middlemen" makes them the richest class in the world. However, DeFi adopts an open protocol and provides low-cost financial services for everyone at low cost, which greatly reduces the cost of transactions.
DeFi can improve the efficiency of finance. Blockchain enables financial transactions to achieve transaction settlement. It has gone beyond the traditional settlement system of financial institutions. When it comes to cross-border transactions. In terms of the transfer, a cross-border transfer can sometimes take several days, but in the blockchain system or DeFi system, the actual ownership of assets has changed when the transaction occurs.
There’s one more point that I want to mention that is DeFi can derive something that traditional finance doesn’t have. For example, the constant product market maker is an innovative product in the field of DeFi. We believe that DeFi can not only improve and improve the original traditional finance but also have more innovations to be discovered. The CTO of our team wrote such a sentence in the introduction of WaykiChain code: “the only limitation of the blockchain is our imagination.”
There should still be some people who have invested in the DeFi project. This year's link, knc, and mkr are all DeFi concepts, and they all have good market performance, including WaykiChain is also a DeFi concept, and our community is not small. It's just that few people are using DeFi products. In fact, not only a few people use DeFi products, but also fewer people who put coins in wallets to play any application in addition to the use of exchanges to speculate coins in the currency circle. For example, I got data before that showed only 14,000 people on Ethereum participate in DeFi. DeFi currently lacks a popular hit, like Dapp's ethernet cat, fomo3D, which can mobilize the market's passion at once. WaykiChain will release a DeFi product called Wayki-X in the second half of this year. Concerning synthetic asset transactions, we are confident that this product will become a hot issue.

The first-level potential users of DeFi are users of public chain tokens, especially for collateral-type DeFi applications. For example, users who hold ETH are potential users of DeFi on Ethereum. Only if I look high on ETH, I will collateral ETH for various other financial activities. The same is true for WaykiChain. So if most of the non-DeFi public chains are removed, and most Bitcoin holders, this first-level potential user is still very limited. The second-level potential users are DeFi participants, such as participating in DEX transactions, or using other assets to purchase DeFi stable coins for investment and so on. The third-level potential users are some users outside the circle. They will take advantage of income opportunities, such as wealth management and other applications to come in contact with DeFi. This most extensive market has not been well developed.
Ethereum already has an integrated DeFi ecosystem, and there are plenty of branches on it, plus a lot of public chains have poured into the DeFi track this year. However, the current scale of DeFi users is still small, and many people are worried that so many public chains are pouring into the DeFi track, but the market can’t digest so many DeFi products, thus they may finally be of varying quality. Are you worried about this problem?
I am not worried. First of all, the advantage of Ethereum is not that great. The DeFi ecosystem on Ethereum can be said to be in full bloom, but it is not integrated. In addition, Ethereum now establishes DeFi in a savage way of development. I feel that it is just a child who plays on the beach and cannot build a skyscraper. The financial system needs to be framed, at least the asset standards should be unified, the pricing unit should be unified, and the liquidity measurement standards should be unified. DeFi on Ethereum does not have all these uniformities above, so many problems have arisen this year. Although the single-module product looks fine, once it comes to the “interoperability” that DeFi on Ethereum is proud of, three particularly serious security incidents occurred. Another thing is that if users want to use DeFi on Ethereum completely, they have to cross many products, and each time they exchange currency, they must bear the loss of the price difference, which will disperse the liquidity of DeFi.
WaykiChain’s thinking is different from that of Ethereum. What WaykiChain wants to do is an integrated DeFi public chain, which means that we will unify the currency, unify the standard of asset release, unify the valuation unit, and unify the liquidity. Based on those preconditions, then smart contracts use imagination to build more products, and ultimately provide users with a one-stop DeFi experience. The market covered by DeFi is huge, so we don’t worry about competition. If you introduce 1% of Bitcoin’s market value to any public chain, it is enough to support a very large DeFi project, not to mention the introduction of traditional assets in the future.
In the near term, although DeFi’s volume has developed rapidly, it is still very small. The current market value of the digital currency is about more than 270 billion US dollars, but the collateral in the DeFi agreement is only 1 billion US dollars. I think it will reach 20 billion US dollars in two years. It can be seen that the future market is still very broad. In addition to the need to compete for the Bitcoin market, mature public chains are also a development idea for DeFi empowerment of other public chains. For the ceiling of DeFi development, it is not yet seen now, but the first bottleneck that may be encountered is how to release off-chain assets to the blockchain to expand the overall DeFi market cap.
The BTC market is the most attractive part of DeFi. Let me explain a few things.

1.For BTC currency holders, these people are optimistic about BTC for a long time, but when they lack liquidity at hand, they need a loan agreement to help them get some cash. However, the centralized financial platform has various security risks, such as asset theft, asset misappropriation, or platform running. Some money holders who pay special attention to security will choose the DeFi protocol.

  1. In terms of DeFi projects, the market value and volume of BTC is the largest, so whoever can occupy the BTC market will become a giant.

For the DeFi market, BTC itself does not have programmability, so any other public chain needs to do a cross-chain protocol to introduce BTC, so the largest market provides the most fair competition environment. WaykiChain introduced a decentralized cross-chain mechanism in the upcoming public chain version 3.0. After going online, users can collateral BTC or ETH to generate stablecoin. At the same time, the interest paid by users, as well as the penalties that are cleared in the middle, are also to be repurchased for the destruction of WGRT.

First, the form of products will be more diversified, and many innovative products will appear.

Second, the product will be more professional and have a better experience, while providing one-stop financial services. This is the direction that WaykiChain is currently doing.

Third, the DeFi on the public chain will expand through cross-chain. For example, as mentioned earlier, the DeFi on the public chain will compete for the Bitcoin market. However, in addition to competing for the Bitcoin market, the market for more small currencies cannot be ignored. We will also try to use the WaykiChain DeFi system to empower other small currencies or public chains. So that their currency users can also enjoy the financial services brought by DeFi. This market has not yet been explored.
We want to build the world's first integrated DeFi public chain.

The development of WGRT is inseparable from the promotion and use of stablecoin WUSD. Therefore, our follow-up plan is mainly to build more products around the stable currency system to empower WUSD.

At the end of July this year and early August, we will launch a new product called WaykiX, which is a synthetic asset trading platform that can trade almost all types of assets in the world.

After that, we will also launch WUSD financial management, so that the currency holders can enjoy a fixed income. At the same time, we will also develop asset securitization business, and publish some high-quality asset targets on WaykiChain, such as Vietnam real estate, European and American government bonds, etc., while expanding the volume of DeFi assets on WaykiChain, to the community more Investment opportunities.
Yes, I will answer in terms of two levels, the first level is the ecological level, and the second level is the level of the entire coin itself.

From an ecological perspective, the quality of WGRT depends on the entire stablecoin system, and whether more people can use it. The stablecoin WUSD develops well, so the whole WGRT becomes the biggest beneficiary. In fact, the series of DeFi products we created later are all based on the stablecoin WUSD, such as the Wayki-X synthetic asset trading platform. After the Wayki-X synthetic asset trading platform is launched at the end of July and early August, the market will have a lot of demand for WICC. We will also use this platform as a fist product of this year to promote, so as to ensure the benefit of the entire WGRT. In addition, the real estate in Vietnam and the national debt in Europe are based on financial products issued by WUSD, and they will also promote the development of WGRT.

The WGRT coin will be launched on OKEx, and then some high-quality second-tier exchanges will be listed to enhance its liquidity. When the liquidity is sufficient, we will also impact other first-tier exchanges, including domestic first-tier and international first-tier exchanges.
submitted by Waykichain to WICCProject [link] [comments]

30+ Reasons Why Cryptocurrencies Are Worthless

1)It is possible to change the code through a miner vote or a fork and change the total supply or anything. DASH did it : they reduced the total supply from 84M to 18.9M a few years ago. They could also increase it to 999 Trillions if they wanted to so that millions of DASH are mined every week.

2)You can also fork bitcoin anytime , start over from 0 and claim it's the real bitcoin. (BCH , BSV , BTG , LTC , BCD etc)

3)Why would you pay $10,000 for a digital collectible unit called BTC when you can use BCH or TRX or LTC .. you name it. They work just as fine and cost less. There is no rarity like in gold.

4)Think of any amount you hold in ethereum as a gift card to use smart contracts on the ETH blockchain. Ridiculous. You’d rather hold a wal mart gift card or even simply cash.

5)Private keys may be bruteforced as we speak. Quintillions entries a second. When they’ll have enough bitcoins under control , they could move them all at once instantly.(At least 45,000 ETH have been stolen this way for now through ethereum bandit)SHA 256 is too old , bitcoin is 10 years old , it is not secure enough , quantum computing could potentially break it.

6)And that’s if people don’t find a way to create an infinite amount of coins to sell on exchanges.. it happened with monero , stellar , bitcoin , zcash , zcoin , eos , etc..

proofs :

“Bitcoin , Coindesk : “The Latest Bitcoin Bug Was So Bad, Developers Kept Its Full Details a Secret”an attacker could have actually used it to create new Bitcoin — above the 21 million hard-cap of coin creation — thereby inflating the supply and devaluing current bitcoins.”

Stellar : “Stellar Inflation: Glitch Leads to 2.25 Billion Extra XLM Printed”

Monero : “A bug in the Monero (XMR) wallet software that could enable fake deposits to exchanges has been recently brought to public attention through a Medium post”

Zcoin : Forged coins were created, but not exceeding 1% of the circulating supply. We will release further details on exact numbers when Sigma is released.

EOS : “Hackers Forge Billion EOS Coins to Steal Real Crypto From DEX “

Zcash : “Zcash Team Reveals It Fixed a Catastrophic Coin Counterfeiting Bug” etc..

7)Segwit , and especially Lightning network is a very complex technology and it will inevitably have flaws , bugs , it will be exploited and people will lose money. That alone can cause bitcoin to drop very low levels.

8)Then miners may be losing millions so they will stop mining , blocks may be so slow , almost no transaction will come though , and bitcoin may not have enough time to reach the next difficulty adjustement. This is reffered to as a death spiral. Then every crypto even those with no mining involved may crash hard.

9)Many crypto wallets are unsafe and have already caused people to lose all their investment , including the infamous “parity wallet”.

10)It is NOT trustless. you have to trust the wallet you’re using is not just generating an address controlled by the developper , you have to trust the node the wallet connects to is an honest node , you have to trust a Rogue state or organization with enough computing power will not 51% attack the network. etc..

11)Bitcoin is NOT deflationary. Bitcoins are created every blocks (roughly every 10 minutes) and you wil be dead by the time we reach the 21 million current hard cap.

12)Bitcoin price may artificially be inflated by Tether.

13)It’s an energy waste , an environmental catastrophy.

14)The only usecases are money laundering , tax evasion , gambling , buying on the dark net , evading sanctions and speculation.

15)Governments will ban it if it gets too big , and they have a big incentive to do so , not only for the obscure usecases but also because it threatens the stability of sovereign currencies. Trump could kill bitcoin with one tweet , force fiat exchanges to cease activity.

16)Most cryptos are scams , the rest are just crazy speculative casino investments.

17)It is pyramidal : early adopters intend to profit massively while last comers get crushed. That's not how money works. The overwhelming majority of crypto holders are buying it because they think they will be able to sell it to a higher price later. Money is supposed to be rather stable.

18)The very few stores accepting bitcoin always have the real price in the local currency , not in bitcoin. And prices like 0.00456329 BTC are ridiculous !

19)About famous brokers listing bitcoin : they have to meet the demand in order to make money , it doesn't mean they approve it , some even short it (see interactive broker's CEO opinion on bitcoin)

20)People say cash is backed by nothing and losing value slowly , and yes it is very flawed , but there is a whole nation behind it , it's accepted everywhere , you can buy more things with it.

21)Everybody in crypto thinks that there will be a new bullrun and that then , they will sell. But because everybody thinks it will happen , it might not happen. The truth is past performance doesn’t indicate future performance and it is absolutely not guaranteed that there will ever be another bullrun. The markets are unpredictable.

22)Also BTC went from about $0.003 to the price it is today , so don’t think it’s cheap now.

23)There is no recourse if you’re scammed/hacked/made a mistake in the address etc. No chargebacks. But it might be possible to do a rollback (blockchain reorganization) to reverse some transactions. BSV did it.

24)In case of a financial crisis , the speculative assets would crash the most and bitcoin is far from being a non speculative safe heaven ; and governments might ban it to prevent fiat inflation to worsen.

25) Having to write down the private key somewhere or memorize it is a security flaw ! It’s insane to think a system like this will gain mass adoption.

26) The argument saying governments can not ban it because it is decentralized (like they banned drugs) doesn’t work for cryptos. First , drugs are much harder to find and much more expensive and unsafe because of the ban , and people are willing to take the risk because they like it. But if crypto is banned , value will drop too much , and if you can’t sell it for fiat without risking jail , goodluck to find a buyer. Fiat exchanges could close. Banks could terminate every crypto related bank account. And maybe then the mining death spiral would happen and kill all cryptos.

27) Crypto doesn’t exist. It’s like buying air. It’s just virtual collectibles generated by a code. Faguzzi, fugazzi, it’s a whazzie, it’s a whoozie.. it’s a.. fairy dust. It doesn’t exist. It’s never landed. It’s no matter, it’s not on the elemental chart. It… it’s not fucking real!

28) Most brilliant guys have come out and said Bitcoin was a scam or worthless. Including Bill Gates , Warren Buffet , The Wolf Of Wall Street…

29) Inflation is necessary for POW , BTC code will have to be changed to bypass the 21M cap or mining will die ! If BTC code is not changed to allow for miners to be paid reasonably , they will cease mining when the bitcoin block reward gets too low.Even monero understood it ,the code will have to be changed to allow for an infinite bitcoin supply (devaluating all current bitcoins) or the hash will decrease and the security of bitcoin will decrease dramatically and be 51% attacked

30) Don’t mix up blockchain and cryptos. Even blockchain is overrated. But when you hear this or that company is going blockchain , it doesn’t mean they support cryptocurrencies.

31) Craig Wright had a bitcoin mining company with Dave Kleinman (he died) and on january 1 2020 he claims he will be able to access the 1.1M BTC/BCH/BTG from the mining trust. He may or may not dump them on the market , he also said BTC had a fatal flaw and that by 2019 there will be no more BTC.

32) Hacks in cryptos are very common and usually massive. Billions of dollars in crypto have been stolen in the last 6 years. In may 2019 Binance was hacked and lost 7,000 BTC (and it’s far from being the biggest crypto hack).

33) Bitcoin was first. It's an ancient technology. Newer blockchains have privacy, smart contracts, distributed apps and more.Bitcoin is our future? Was the Model T the future of the automobile? (John Mc Afee)

34) IOTA investiguating stolen funds on mainnet. IOTA shuts down the whole network to deal with trinity wallet attack.


While the native language of the writter is not english , I think you get the point and it doesn't make it any less relevant.
submitted by OverTheRedHills to u/OverTheRedHills [link] [comments]

30+ Reasons Why Cryptocurrencies Are Worthless

1)It is possible to change the code through a miner vote or a fork and change the total supply or anything. DASH did it : they reduced the total supply from 84M to 18.9M a few years ago. They could also increase it to 999 Trillions if they wanted to so that millions of DASH are mined every week.

2)You can also fork bitcoin anytime , start over from 0 and claim it's the real bitcoin. (BCH , BSV , BTG , LTC , BCD etc)

3)Why would you pay $10,000 for a digital collectible unit called BTC when you can use BCH or TRX or LTC .. you name it. They work just as fine and cost less. There is no rarity like in gold.

4)Think of any amount you hold in ethereum as a gift card to use smart contracts on the ETH blockchain. Ridiculous. You’d rather hold a wal mart gift card or even simply cash.

5)Private keys may be bruteforced as we speak. Quintillions entries a second. When they’ll have enough bitcoins under control , they could move them all at once instantly.(At least 45,000 ETH have been stolen this way for now through ethereum bandit)SHA 256 is too old , bitcoin is 10 years old , it is not secure enough , quantum computing could potentially break it.

6)And that’s if people don’t find a way to create an infinite amount of coins to sell on exchanges.. it happened with monero , stellar , bitcoin , zcash , zcoin , eos , etc..

proofs :

“Bitcoin , Coindesk : “The Latest Bitcoin Bug Was So Bad, Developers Kept Its Full Details a Secret”an attacker could have actually used it to create new Bitcoin — above the 21 million hard-cap of coin creation — thereby inflating the supply and devaluing current bitcoins.”

Stellar : “Stellar Inflation: Glitch Leads to 2.25 Billion Extra XLM Printed”

Monero : “A bug in the Monero (XMR) wallet software that could enable fake deposits to exchanges has been recently brought to public attention through a Medium post”

Zcoin : Forged coins were created, but not exceeding 1% of the circulating supply. We will release further details on exact numbers when Sigma is released.

EOS : “Hackers Forge Billion EOS Coins to Steal Real Crypto From DEX “

Zcash : “Zcash Team Reveals It Fixed a Catastrophic Coin Counterfeiting Bug” etc..

7)Segwit , and especially Lightning network is a very complex technology and it will inevitably have flaws , bugs , it will be exploited and people will lose money. That alone can cause bitcoin to drop very low levels.

8)Then miners may be losing millions so they will stop mining , blocks may be so slow , almost no transaction will come though , and bitcoin may not have enough time to reach the next difficulty adjustement. This is reffered to as a death spiral. Then every crypto even those with no mining involved may crash hard.

9)Many crypto wallets are unsafe and have already caused people to lose all their investment , including the infamous “parity wallet”.

10)It is NOT trustless. you have to trust the wallet you’re using is not just generating an address controlled by the developper , you have to trust the node the wallet connects to is an honest node , you have to trust a Rogue state or organization with enough computing power will not 51% attack the network. etc..

11)Bitcoin is NOT deflationary. Bitcoins are created every blocks (roughly every 10 minutes) and you wil be dead by the time we reach the 21 million current hard cap.

12)Bitcoin price may artificially be inflated by Tether.

13)It’s an energy waste , an environmental catastrophy.

14)The only usecases are money laundering , tax evasion , gambling , buying on the dark net , evading sanctions and speculation.

15)Governments will ban it if it gets too big , and they have a big incentive to do so , not only for the obscure usecases but also because it threatens the stability of sovereign currencies. Trump could kill bitcoin with one tweet , force fiat exchanges to cease activity.

16)Most cryptos are scams , the rest are just crazy speculative casino investments.

17)It is pyramidal : early adopters intend to profit massively while last comers get crushed. That's not how money works. The overwhelming majority of crypto holders are buying it because they think they will be able to sell it to a higher price later. Money is supposed to be rather stable. That's why the best cryptocurrencies are USDT USDC etc..

18)The very few stores accepting bitcoin always have the real price in the local currency , not in bitcoin. And prices like 0.00456329 BTC are ridiculous !

19)About famous brokers listing bitcoin : they have to meet the demand in order to make money , it doesn't mean they approve it , some even short it (see interactive broker's CEO opinion on bitcoin)

20)People say cash is backed by nothing and losing value slowly , and yes it is very flawed , but there is a whole nation behind it , it's accepted everywhere , you can buy more things with it.

21)Everybody in crypto thinks that there will be a new bullrun and that then , they will sell. But because everybody thinks it will happen , it might not happen. The truth is past performance doesn’t indicate future performance and it is absolutely not guaranteed that there will ever be another bullrun. The markets are unpredictable.

22)Also BTC went from about $0.003 to the price it is today , so don’t think it’s cheap now.

23)There is no recourse if you’re scammed/hacked/made a mistake in the address etc. No chargebacks. But it might be possible to do a rollback (blockchain reorganization) to reverse some transactions. BSV did it.

24)In case of a financial crisis , the speculative assets would crash the most and bitcoin is far from being a non speculative safe heaven ; and governments might ban it to prevent fiat inflation to worsen.

25) Having to write down the private key somewhere or memorize it is a security flaw ! It’s insane to think a system like this will gain mass adoption.

26) The argument saying governments can not ban it because it is decentralized (like they banned drugs) doesn’t work for cryptos. First , drugs are much harder to find and much more expensive and unsafe because of the ban , and people are willing to take the risk because they like it. But if crypto is banned , value will drop too much , and if you can’t sell it for fiat without risking jail , goodluck to find a buyer. Fiat exchanges could close. Banks could terminate every crypto related bank account. And maybe then the mining death spiral would happen and kill all cryptos.

27) Crypto doesn’t exist. It’s like buying air. It’s just virtual collectibles generated by a code. Faguzzi, fugazzi, it’s a whazzie, it’s a whoozie.. it’s a.. fairy dust. It doesn’t exist. It’s never landed. It’s no matter, it’s not on the elemental chart. It… it’s not fucking real!

28) Most brilliant guys have come out and said Bitcoin was a scam or worthless. Including Bill Gates , Warren Buffet , The Wolf Of Wall Street…

29) Inflation is necessary for POW , BTC code will have to be changed to bypass the 21M cap or mining will die ! If BTC code is not changed to allow for miners to be paid reasonably , they will cease mining when the bitcoin block reward gets too low.Even monero understood it ,the code will have to be changed to allow for an infinite bitcoin supply (devaluating all current bitcoins) or the hash will decrease and the security of bitcoin will decrease dramatically and be 51% attacked

30) Don’t mix up blockchain and cryptos. Even blockchain is overrated. But when you hear this or that company is going blockchain , it doesn’t mean they support cryptocurrencies.

31) Craig Wright had a bitcoin mining company with Dave Kleinman (he died) and on january 1 2020 he claims he will be able to access the 1.1M BTC/BCH/BTG from the mining trust. He may or may not dump them on the market , he also said BTC had a fatal flaw and that by 2019 there will be no more BTC.

32) Hacks in cryptos are very common and usually massive. Billions of dollars in crypto have been stolen in the last 6 years. In may 2019 Binance was hacked and lost 7,000 BTC (and it’s far from being the biggest crypto hack).

33) Bitcoin was first. It's an ancient technology. Newer blockchains have privacy, smart contracts, distributed apps and more.Bitcoin is our future? Was the Model T the future of the automobile? (John Mc Afee)

34) IOTA investiguating stolen funds on mainnet. IOTA shuts down the whole network to deal with trinity wallet attack.


While the native language of the writter is not english , I think you get the point and it doesn't make it any less relevant.
submitted by OverTheRedHills to u/OverTheRedHills [link] [comments]

Survey Responses Are IN!

I want to thank everyone who replied to our survey! Your feedback is extremely valuable!


Here are the results and how they're helping shape our direction.


What goals would you like to see us accomplish? What's most important to you in how this Quadriga situation ends?

This was an open-ended question and the answers varied widely (and there was definitely a lot of responses which mentioned multiple goals). Here's a summary:
The justice theme has been entirely overlooked by what we're doing. Discussing the idea on the Quadriga Uncovered Telegram group, it was determined that there was definite interest in a potential letter-writing initiative. One possibility would be sending letters to the RCMP to request the exhumation.


Is there any part of our initiative which confuses you?

Almost universally, there was