hacker Bitcoin News

Crypto-Powered - The Most Promising Use-Cases of Decentralized Finance (DeFi)

Crypto-Powered - The Most Promising Use-Cases of Decentralized Finance (DeFi)
A whirlwind tour of Defi, paying close attention to protocols that we’re leveraging at Genesis Block.
https://reddit.com/link/hrrt21/video/cvjh5rrh12b51/player
This is the third post of Crypto-Powered — a new series that examines what it means for Genesis Block to be a digital bank that’s powered by crypto, blockchain, and decentralized protocols.
Last week we explored how building on legacy finance is a fool’s errand. The future of money belongs to those who build with crypto and blockchain at their core. We also started down the crypto rabbit hole, introducing Bitcoin, Ethereum, and DeFi (decentralized finance). That post is required reading if you hope to glean any value from the rest of this series.
97% of all activity on Ethereum in the last quarter has been DeFi-related. The total value sitting inside DeFi protocols is roughly $2B — double what it was a month ago. The explosive growth cannot be ignored. All signs suggest that Ethereum & DeFi are a Match Made in Heaven, and both on their way to finding strong product/market fit.
So in this post, we’re doing a whirlwind tour of DeFi. We look at specific examples and use-cases already in the wild and seeing strong growth. And we pay close attention to protocols that Genesis Block is integrating with. Alright, let’s dive in.

Stablecoins

Stablecoins are exactly what they sound like: cryptocurrencies that are stable. They are not meant to be volatile (like Bitcoin). These assets attempt to peg their price to some external reference (eg. USD or Gold). A non-volatile crypto asset can be incredibly useful for things like merchant payments, cross-border transfers, or storing wealth — becoming your own bank but without the stress of constant price volatility.
There are major governments and central banks that are experimenting with or soon launching their own stablecoins like China with their digital yuan and the US Federal Reserve with their digital dollar. There are also major corporations working in this area like JP Morgan with their JPM Coin, and of course Facebook with their Libra Project.
Stablecoin activity has grown 800% in the last year, with $290B of transaction volume (funds moving on-chain).
The most popular USD-pegged stablecoins include:
  1. Tether ($10B): It’s especially popular in Asia. It’s backed by USD in a bank account. But given their lack of transparency and past controversies, they generally aren’t trusted as much in the West.
  2. USDC ($1B): This is the most reputable USD-backed stablecoin, at least in the West. It was created by Coinbase & Circle, both well-regarded crypto companies. They’ve been very open and transparent with their audits and bank records.
  3. DAI ($189M): This is backed by other crypto assets — not USD in a bank account. This was arguably the first true DeFi protocol. The big benefit is that it’s more decentralized — it’s not controlled by any single organization. The downside is that the assets backing it can be volatile crypto assets (though it has mechanisms in place to mitigate that risk).
Other notable USD-backed stablecoins include PAX, TrueUSD, Binance USD, and Gemini Dollar.
tablecoins are playing an increasingly important role in the world of DeFi. In a way, they serve as common pipes & bridges between the various protocols.
https://preview.redd.it/v9ki2qro12b51.png?width=700&format=png&auto=webp&s=dbf591b122fc4b3d83b381389145b88e2505b51d

Lending & Borrowing

Three of the top five DeFi protocols relate to lending & borrowing. These popular lending protocols look very similar to traditional money markets. Users who want to earn interest/yield can deposit (lend) their funds into a pool of liquidity. Because it behaves similarly to traditional money markets, their funds are not locked, they can withdraw at any time. It’s highly liquid.
Borrowers can tap into this pool of liquidity and take out loans. Interest rates depend on the utilization rate of the pool — how much of the deposits in the pool have already been borrowed. Supply & demand. Thus, interest rates are variable and borrowers can pay their loans back at any time.
So, who decides how much a borrower can take? What’s the process like? Are there credit checks? How is credit-worthiness determined?
These protocols are decentralized, borderless, permissionless. The people participating in these markets are from all over the world. There is no simple way to verify identity or check credit history. So none of that happens.
Credit-worthiness is determined simply by how much crypto collateral the borrower puts into the protocol. For example, if a user wants to borrow $5k of USDC, then they’ll need to deposit $10k of BTC or ETH. The exact amount of collateral depends on the rules of the protocol — usually the more liquid the collateral asset, the more borrowing power the user can receive.
The most prominent lending protocols include Compound, Aave, Maker, and Atomic Loans. Recently, Compound has seen meteoric growth with the introduction of their COMP token — a token used to incentivize and reward participants of the protocol. There’s almost $1B in outstanding debt in the Compound protocol. Mainframe is also working on an exciting protocol in this area and the latest iteration of their white paper should be coming out soon.
There is very little economic risk to these protocols because all loans are overcollateralized.
I repeat, all loans are overcollateralized. If the value of the collateral depreciates significantly due to price volatility, there are sophisticated liquidation systems to ensure the loan always gets paid back.
https://preview.redd.it/rru5fykv12b51.png?width=700&format=png&auto=webp&s=620679dd84fca098a042051c7e7e1697be8dd259

Investments

Buying, selling, and trading crypto assets is certainly one form of investing (though not for the faint of heart). But there are now DeFi protocols to facilitate making and managing traditional-style investments.
Through DeFi, you can invest in Gold. You can invest in stocks like Amazon and Apple. You can short Tesla. You can access the S&P 500. This is done through crypto-based synthetics — which gives users exposure to assets without needing to hold or own the underlying asset. This is all possible with protocols like UMA, Synthetix, or Market protocol.
Maybe your style of investing is more passive. With PoolTogether , you can participate in a no-loss lottery.
Maybe you’re an advanced trader and want to trade options or futures. You can do that with DeFi protocols like Convexity, Futureswap, and dYdX. Maybe you live on the wild side and trade on margin or leverage, you can do that with protocols like Fulcrum, Nuo, and DDEX. Or maybe you’re a degenerate gambler and want to bet against Trump in the upcoming election, you can do that on Augur.
And there are plenty of DeFi protocols to help with crypto investing. You could use Set Protocol if you need automated trading strategies. You could use Melonport if you’re an asset manager. You could use Balancer to automatically rebalance your portfolio.
With as little as $1, people all over the world can have access to the same investment opportunities and tools that used to be reserved for only the wealthy, or those lucky enough to be born in the right country.
You can start to imagine how services like Etrade, TD Ameritrade, Schwab, and even Robinhood could be massively disrupted by a crypto-native company that builds with these types of protocols at their foundation.
https://preview.redd.it/agco8msx12b51.png?width=700&format=png&auto=webp&s=3bbb595f9ecc84758d276dbf82bc5ddd9e329ff8

Insurance

As mentioned in our previous post, there are near-infinite applications one can build on Ethereum. As a result, sometimes the code doesn’t work as expected. Bugs get through, it breaks. We’re still early in our industry. The tools, frameworks, and best practices are all still being established. Things can go wrong.
Sometimes the application just gets in a weird or bad state where funds can’t be recovered — like with what happened with Parity where $280M got frozen (yes, I lost some money in that). Sometimes, there are hackers who discover a vulnerability in the code and maliciously steal funds — like how dForce lost $25M a few months ago, or how The DAO lost $50M a few years ago. And sometimes the system works as designed, but the economic model behind it is flawed, so a clever user takes advantage of the system— like what recently happened with Balancer where they lost $500k.
There are a lot of risks when interacting with smart contracts and decentralized applications — especially for ones that haven’t stood the test of time. This is why insurance is such an important development in DeFi.
Insurance will be an essential component in helping this technology reach the masses.
Two protocols that are leading the way on DeFi insurance are Nexus Mutual and Opyn. Though they are both still just getting started, many people are already using them. And we’re excited to start working with them at Genesis Block.
https://preview.redd.it/wf1xvq3z12b51.png?width=700&format=png&auto=webp&s=70db1e9587f57d0c470a4f9f4523c216929e1876

Exchanges & Liquidity

Decentralized Exchanges (DEX) were one of the first and most developed categories in DeFi. A DEX allows a user to easily exchange one crypto asset for another crypto asset — but without needing to sign up for an account, verify identity, etc. It’s all via decentralized protocols.
Within the first 5 months of 2020, the top 7 DEX already achieved the 2019 trading volume. That was $2.5B. DeFi is fueling a lot of this growth.
https://preview.redd.it/1dwvq4e022b51.png?width=700&format=png&auto=webp&s=97a3d756f60239cd147031eb95fc2a981db55943
There are many different flavors of DEX. Some of the early ones included 0x, IDEX, and EtherDelta — all of which had a traditional order book model where buyers are matched with sellers.
Another flavor is the pooled liquidity approach where the price is determined algorithmically based on how much liquidity there is and how much the user wants to buy. This is known as an AMM (Automated Market Maker) — Uniswap and Bancor were early leaders here. Though lately, Balancer has seen incredible growth due mostly to their strong incentives for participation — similar to Compound.
There are some DEXs that are more specialized — for example, Curve and mStable focus mostly only stablecoins. Because of the proliferation of these decentralized exchanges, there are now aggregators that combine and connect the liquidity of many sources. Those include Kyber, Totle, 1Inch, and Dex.ag.
These decentralized exchanges are becoming more and more connected to DeFi because they provide an opportunity for yield and earning interest.
Users can earn passive income by supplying liquidity to these markets. It usually comes in the form of sharing transaction fee revenue (Uniswap) or token rewards (Balancer).
https://preview.redd.it/wrug6lg222b51.png?width=700&format=png&auto=webp&s=9c47a3f2e01426ca87d84b92c1e914db39ff773f

Payments

As it relates to making payments, much of the world is still stuck on plastic cards. We’re grateful to partner with Visa and launch the Genesis Block debit card… but we still don’t believe that's the future of payments. We see that as an important bridge between the past (legacy finance) and the future (crypto).
Our first post in this series shared more on why legacy finance is broken. We talked about the countless unnecessary middle-men on every card swipe (merchant, acquiring bank, processor, card network, issuing bank). We talked about the slow settlement times.
The future of payments will be much better. Yes, it’ll be from a mobile phone and the user experience will be similar to ApplePay (NFC) or WePay (QR Code).
But more importantly, the underlying assets being moved/exchanged will all be crypto — digital, permissionless, and open source.
Someone making a payment at the grocery store check-out line will be able to open up Genesis Block, use contactless tech or scan a QR code, and instantly pay for their goods. All using crypto. Likely a stablecoin. Settlement will be instant. All the middlemen getting their pound of flesh will be disintermediated. The merchant can make more and the user can spend less. Blockchain FTW!
Now let’s talk about a few projects working in this area. The xDai Burner Wallet experience was incredible at the ETHDenver event a few years ago, but that speed came at the expense of full decentralization (can it be censored or shut down?). Of course, Facebook’s Libra wants to become the new standard for global payments, but many are afraid to give Facebook that much control (newsflash: it isn’t very decentralized).
Bitcoin is decentralized… but it’s slow and volatile. There are strong projects like Lightning Network (Zap example) that are still trying to make it happen. Projects like Connext and OmiseGo are trying to help bring payments to Ethereum. The Flexa project is leveraging the gift card rails, which is a nice hack to leverage existing pipes. And if ETH 2.0 is as fast as they say it will be, then the future of payments could just be a stablecoin like DAI (a token on Ethereum).
In a way, being able to spend crypto on daily expenses is the holy grail of use-cases. It’s still early. It hasn’t yet been solved. But once we achieve this, then we can ultimately and finally say goodbye to the legacy banking & finance world. Employees can be paid in crypto. Employees can spend in crypto. It changes everything.
Legacy finance is hanging on by a thread, and it’s this use-case that they are still clinging to. Once solved, DeFi domination will be complete.
https://preview.redd.it/svft1ce422b51.png?width=700&format=png&auto=webp&s=9a6afc9e9339a3fec29ee2ae743c07c3042ea4ce

Impact on Genesis Block

At Genesis Block, we’re excited to leverage these protocols and take this incredible technology to the world. Many of these protocols are already deeply integrated with our product. In fact, many are essential. The masses won’t know (or care about) what Tether, USDC, or DAI is. They think in dollars, euros, pounds and pesos. So while the user sees their local currency in the app, the underlying technology is all leveraging stablecoins. It’s all on “crypto rails.”
https://preview.redd.it/jajzttr622b51.png?width=700&format=png&auto=webp&s=fcf55cea1216a1d2fcc3bf327858b009965f9bf8
When users deposit assets into their Genesis Block account, they expect to earn interest. They expect that money to grow. We leverage many of these low-risk lending/exchange DeFi protocols. We lend into decentralized money markets like Compound — where all loans are overcollateralized. Or we supply liquidity to AMM exchanges like Balancer. This allows us to earn interest and generate yield for our depositors. We’re the experts so our users don’t need to be.
We haven’t yet integrated with any of the insurance or investment protocols — but we certainly plan on it. Our infrastructure is built with blockchain technology at the heart and our system is extensible — we’re ready to add assets and protocols when we feel they are ready, safe, secure, and stable. Many of these protocols are still in the experimental phase. It’s still early.
At Genesis Block we’re excited to continue to be at the frontlines of this incredible, innovative, technological revolution called DeFi.
---
None of these powerful DeFi protocols will be replacing Robinhood, SoFi, or Venmo anytime soon. They never will. They aren’t meant to! We’ve discussed this before, these are low-level protocols that need killer applications, like Genesis Block.
So now that we’ve gone a little deeper down the rabbit hole and we’ve done this whirlwind tour of DeFi, the natural next question is: why?
Why does any of it matter?
Most of these financial services that DeFi offers already exist in the real world. So why does it need to be on a blockchain? Why does it need to be decentralized? What new value is unlocked? Next post, we answer these important questions.
To look at more projects in DeFi, check out DeFi Prime, DeFi Pulse, or Consensys.
------
Other Ways to Consume Today's Episode:
Follow our social channels:https://genesisblock.com/follow/
Download the app. We're a digital bank that's powered by crypto:https://genesisblock.com/download
submitted by mickhagen to genesisblockhq [link] [comments]

Subreddit Stats: CryptoCurrency top posts from 2017-12-30 to 2018-12-28 15:19 PDT

Period: 362.99 days
Submissions Comments
Total 999 261301
Rate (per day) 2.75 714.82
Unique Redditors 802 50220
Combined Score 2218137 2947862

Top Submitters' Top Submissions

  1. 67661 points, 12 submissions: DestroyerOfShitcoins
    1. CryptoNick is deleting all of his BitConnect videos, and so are his buddies. Please never forget what he and his cohorts did to so many people, and how much money those people lost in the process thanks to CryptoNick, Trevon James, and Craig Grant! (26500 points, 3087 comments)
    2. Listen up folks, if you "did", or still do promote cryptocurrency related scams, you will be called out on it via this sub-Reddit. We don't care about you, or your ill-gotten gains, we care about the general well-being of our community first and foremost. (17879 points, 1294 comments)
    3. Trevon James has over $1,000,000 in his Steem wallet, so I am posting this image as evidence as a record for the internet to remember forever, just in case he tries to tell the courts he lost all his money in BitConnect too like Craig Grant is claiming. (9278 points, 777 comments)
    4. So no one else finds it a bit odd that Verge is actually going up in price in a bear market, after a hack attack, after being outed for paying McAfee to promote it, and after the 1 developer begged for money from his own community to allegedly help pay his taxes? (2550 points, 875 comments)
    5. Not 2 days after the fall of BitConnect, and Trevon James is already promoting his next Ponzi scheme affiliate program in his latest video called Davor... the nerve of this guy! (2229 points, 416 comments)
    6. Cryptonick is selling a cryptocurrency course for $497, and yet he doesn't even know the difference between a public key and a private key... welcome to crypto folks! (1805 points, 239 comments)
    7. You guys have to stop expecting any of these business men of old to champion "decentralized" cryptocurrencies... it's just not going to happen. (1796 points, 453 comments)
    8. The bulls are back baby, and Ethereum is taking over the pairing business on exchanges... it's about time! (1649 points, 740 comments)
    9. Trevon James, legendary BitConnect scammer gets caught trying to cheat on Steemit, by up-voting shit on a fake account to make money... has this guy ever done anything honest in his entire life? (1371 points, 192 comments)
    10. CryptoNick's latest video "Like and Dislike" ratio means that his BitConnect scam has not gone unnoticed, and I'd like to thank all of you for helping us expose him for the scammer that he truly is... drops the mic. (940 points, 158 comments)
  2. 53866 points, 1 submission: jake15151
    1. I still have not received my $27000 wire reversal from GDAX and it's been almost 40 days. (53866 points, 2895 comments)
  3. 53525 points, 19 submissions: coinmoon_com
    1. Nasdaq is open to becoming cryptocurrency exchange, CEO says (17168 points, 844 comments)
    2. Facebook bans crypto advertising. Then says it’s working on its own crypto coin. Hypocrites! (6045 points, 343 comments)
    3. JUSTICE: Bitconnect Leader Arrested (4275 points, 321 comments)
    4. Apparently there is no SEC hearing on Ethereum today and it is all just orchestrated FUD. (2858 points, 440 comments)
    5. Nasdaq May Launch Bitcoin Trading in October 2018 (2650 points, 184 comments)
    6. UPbit audit confirms South Korea’s biggest Cryptocurrency Exchange was not at fault. It was all just FUD! (2322 points, 113 comments)
    7. LET THIS SINK IN: "Bitcoin has the potential to become the first worldwide currency and we're trying to make that happen" - NYSE Owner (2231 points, 597 comments)
    8. Coinbase Survey Shows 18% of all US Students Now Own Cryptocurrency (1790 points, 338 comments)
    9. Beyond Huge! With $10.7 trillion worth of assets under custody and administration, Northern Trust opens doors to Cryptocurrency hedge funds (1774 points, 145 comments)
    10. CNN Video: "People around the world are starting to trust Bitcoin more than the Central Banks". Damn Right! (1679 points, 456 comments)
  4. 43808 points, 4 submissions: A_Internet_Stranger
    1. +1(800)273-8255 - U.S. National Suicide Hotline (38893 points, 3161 comments)
    2. Binance to grant 70% reduction in fees until 2/24/18 (2240 points, 412 comments)
    3. Rai.Exchange/Nanex has finally launched (1892 points, 236 comments)
    4. Nano / XRB Creator Colin LeMahieu Interview (783 points, 81 comments)
  5. 32059 points, 7 submissions: arsonbunny
    1. Why we won't have a long term bear market, and how to systematically pick your future investments in crypto (14594 points, 927 comments)
    2. Want to start fresh after the crypto crash? Here is a comprehensive guide on how to invest and prosper over the long term. (6080 points, 654 comments)
    3. This sub is a mess and needs to get out of the anger stage: How to move forward from the crash if you're a bagholder (3363 points, 404 comments)
    4. Understanding Tether: Why it accounts for a substantial part of the crypto market cap and why its the #1 outstanding issue in crypto markets today (2701 points, 719 comments)
    5. How and why exchanges are manipulating the price in order to capitalize on the new market dynamics (2366 points, 512 comments)
    6. I built these 3 fundamental valuation models for Bitcoin in Excel. Details in the comment. (1517 points, 111 comments)
    7. Understanding Bitcoin Futures: How they work and why they are NOT going to crash the crypto market (1438 points, 123 comments)
  6. 20144 points, 1 submission: Suuperdad
    1. I will tell you exactly what is going on here, this is critical information to understand if you are going to make money in this space. How prices work, and what moves them - and it's not money invested/withdrawn. (20144 points, 1459 comments)
  7. 19959 points, 1 submission: Gabriel-Lewis
    1. Robinhood is launching a Crypto Trading app to compete with Coinbase (19959 points, 3960 comments)
  8. 19623 points, 1 submission: sash187
    1. Checkmate, Bill. (19623 points, 1108 comments)
  9. 18475 points, 1 submission: x2P
    1. Delta's app store description seems appropriate today. (18475 points, 321 comments)
  10. 18254 points, 9 submissions: lamb0x
    1. This is the SEC Commissioner who wants the ETF approved. She has only 1700 followers. Lets show her some love from the Crypto Community. (7312 points, 307 comments)
    2. Bitcoin Annual Transaction volume reaches $1.3 Trillion and surpasses PayPal (2018 points, 262 comments)
    3. WE HAVE SUFFERED A PRIVATE AFFAIR. Block producer paid $100k a day, but allows a double spend because "he had something else to do" (1922 points, 672 comments)
    4. Ethereum is the 5th fastest growing open source project in all of Github (1658 points, 183 comments)
    5. Vitalik laying more sick burns: "If I see indisputable evidence that CSW is Satoshi, it would change my opinion of Satoshi more than it would change my opinion of CSW." (1350 points, 271 comments)
    6. Hackers exploit EOS dApps to steal over $600K. EOS is burning, several dApps hacked recently 🔥🔥🔥 (1230 points, 450 comments)
    7. Just 10 address hold nearly 50% of EOS tokens. "Year long ICO was to distribute fairly" - debunked. (973 points, 260 comments)
    8. RIP EOS - John Oliver dissects this scam which has raised over 1.5 Bn USD already and is still raising funds in a "year long ICO".... (912 points, 474 comments)
    9. This guy has been predicting it right all this while, right upto the exact day! (879 points, 142 comments)

Top Commenters

  1. arsonbunny (16898 points, 134 comments)
  2. el-cuko (10955 points, 27 comments)
  3. dankmeter (6805 points, 26 comments)
  4. ph1sh55 (6226 points, 10 comments)
  5. BlakeRidley (6003 points, 11 comments)
  6. Raymikqwer (5316 points, 102 comments)
  7. hanzyfranzy (5284 points, 6 comments)
  8. DestroyerOfShitcoins (5236 points, 780 comments)
  9. Bungwads (5079 points, 1 comment)
  10. JohnDalysJohn (4764 points, 2 comments)

Top Submissions

  1. I still have not received my $27000 wire reversal from GDAX and it's been almost 40 days. by jake15151 (53866 points, 2895 comments)
  2. +1(800)273-8255 - U.S. National Suicide Hotline by A_Internet_Stranger (38893 points, 3161 comments)
  3. CryptoNick is deleting all of his BitConnect videos, and so are his buddies. Please never forget what he and his cohorts did to so many people, and how much money those people lost in the process thanks to CryptoNick, Trevon James, and Craig Grant! by DestroyerOfShitcoins (26500 points, 3087 comments)
  4. I will tell you exactly what is going on here, this is critical information to understand if you are going to make money in this space. How prices work, and what moves them - and it's not money invested/withdrawn. by Suuperdad (20144 points, 1459 comments)
  5. Robinhood is launching a Crypto Trading app to compete with Coinbase by Gabriel-Lewis (19959 points, 3960 comments)
  6. Checkmate, Bill. by sash187 (19623 points, 1108 comments)
  7. Delta's app store description seems appropriate today. by x2P (18475 points, 321 comments)
  8. Listen up folks, if you "did", or still do promote cryptocurrency related scams, you will be called out on it via this sub-Reddit. We don't care about you, or your ill-gotten gains, we care about the general well-being of our community first and foremost. by DestroyerOfShitcoins (17879 points, 1294 comments)
  9. Nasdaq is open to becoming cryptocurrency exchange, CEO says by coinmoon_com (17168 points, 844 comments)
  10. Why we won't have a long term bear market, and how to systematically pick your future investments in crypto by arsonbunny (14594 points, 927 comments)

Top Comments

  1. 10207 points: el-cuko's comment in +1(800)273-8255 - U.S. National Suicide Hotline
  2. 6165 points: ph1sh55's comment in +1(800)273-8255 - U.S. National Suicide Hotline
  3. 5795 points: BlakeRidley's comment in I still have not received my $27000 wire reversal from GDAX and it's been almost 40 days.
  4. 5079 points: Bungwads's comment in Checkmate, Bill.
  5. 4781 points: hanzyfranzy's comment in Bitcoin breaches $4000 in 15 minutes. What is happening 😳
  6. 4368 points: andyalxatydotcom's comment in Trevon James has over $1,000,000 in his Steem wallet, so I am posting this image as evidence as a record for the internet to remember forever, just in case he tries to tell the courts he lost all his money in BitConnect too like Craig Grant is claiming.
  7. 4287 points: mikelo22's comment in +1(800)273-8255 - U.S. National Suicide Hotline
  8. 4034 points: FSev's comment in +1(800)273-8255 - U.S. National Suicide Hotline
  9. 3700 points: arsonbunny's comment in Bittrex holding my about $100.000 hostage with no response to support ticket/email for almost three months
  10. 3628 points: eNte19's comment in Enjoy the massacre. It could be a once in life opportunity.
Generated with BBoe's Subreddit Stats (Donate)
submitted by subreddit_stats to subreddit_stats [link] [comments]

Subreddit Stats: Cryptocurrency top posts from 2018-01-03 to 2019-01-02 14:46 PDT

Period: 364.28 days
Submissions Comments
Total 998 260939
Rate (per day) 2.74 712.43
Unique Redditors 801 50016
Combined Score 2194368 2923866

Top Submitters' Top Submissions

  1. 67673 points, 12 submissions: DestroyerOfShitcoins
    1. CryptoNick is deleting all of his BitConnect videos, and so are his buddies. Please never forget what he and his cohorts did to so many people, and how much money those people lost in the process thanks to CryptoNick, Trevon James, and Craig Grant! (26506 points, 3085 comments)
    2. Listen up folks, if you "did", or still do promote cryptocurrency related scams, you will be called out on it via this sub-Reddit. We don't care about you, or your ill-gotten gains, we care about the general well-being of our community first and foremost. (17883 points, 1292 comments)
    3. Trevon James has over $1,000,000 in his Steem wallet, so I am posting this image as evidence as a record for the internet to remember forever, just in case he tries to tell the courts he lost all his money in BitConnect too like Craig Grant is claiming. (9278 points, 777 comments)
    4. So no one else finds it a bit odd that Verge is actually going up in price in a bear market, after a hack attack, after being outed for paying McAfee to promote it, and after the 1 developer begged for money from his own community to allegedly help pay his taxes? (2548 points, 875 comments)
    5. Not 2 days after the fall of BitConnect, and Trevon James is already promoting his next Ponzi scheme affiliate program in his latest video called Davor... the nerve of this guy! (2231 points, 416 comments)
    6. Cryptonick is selling a cryptocurrency course for $497, and yet he doesn't even know the difference between a public key and a private key... welcome to crypto folks! (1805 points, 239 comments)
    7. You guys have to stop expecting any of these business men of old to champion "decentralized" cryptocurrencies... it's just not going to happen. (1799 points, 453 comments)
    8. The bulls are back baby, and Ethereum is taking over the pairing business on exchanges... it's about time! (1646 points, 740 comments)
    9. Trevon James, legendary BitConnect scammer gets caught trying to cheat on Steemit, by up-voting shit on a fake account to make money... has this guy ever done anything honest in his entire life? (1375 points, 192 comments)
    10. CryptoNick's latest video "Like and Dislike" ratio means that his BitConnect scam has not gone unnoticed, and I'd like to thank all of you for helping us expose him for the scammer that he truly is... drops the mic. (936 points, 158 comments)
  2. 53857 points, 1 submission: jake15151
    1. I still have not received my $27000 wire reversal from GDAX and it's been almost 40 days. (53857 points, 2895 comments)
  3. 53505 points, 19 submissions: coinmoon_com
    1. Nasdaq is open to becoming cryptocurrency exchange, CEO says (17168 points, 844 comments)
    2. Facebook bans crypto advertising. Then says it’s working on its own crypto coin. Hypocrites! (6037 points, 343 comments)
    3. JUSTICE: Bitconnect Leader Arrested (4276 points, 321 comments)
    4. Apparently there is no SEC hearing on Ethereum today and it is all just orchestrated FUD. (2859 points, 440 comments)
    5. Nasdaq May Launch Bitcoin Trading in October 2018 (2643 points, 184 comments)
    6. UPbit audit confirms South Korea’s biggest Cryptocurrency Exchange was not at fault. It was all just FUD! (2324 points, 113 comments)
    7. LET THIS SINK IN: "Bitcoin has the potential to become the first worldwide currency and we're trying to make that happen" - NYSE Owner (2229 points, 597 comments)
    8. Coinbase Survey Shows 18% of all US Students Now Own Cryptocurrency (1794 points, 338 comments)
    9. Beyond Huge! With $10.7 trillion worth of assets under custody and administration, Northern Trust opens doors to Cryptocurrency hedge funds (1769 points, 145 comments)
    10. CNN Video: "People around the world are starting to trust Bitcoin more than the Central Banks". Damn Right! (1678 points, 456 comments)
  4. 43789 points, 4 submissions: A_Internet_Stranger
    1. +1(800)273-8255 - U.S. National Suicide Hotline (38879 points, 3160 comments)
    2. Binance to grant 70% reduction in fees until 2/24/18 (2242 points, 412 comments)
    3. Rai.Exchange/Nanex has finally launched (1895 points, 236 comments)
    4. Nano / XRB Creator Colin LeMahieu Interview (773 points, 81 comments)
  5. 30534 points, 6 submissions: arsonbunny
    1. Why we won't have a long term bear market, and how to systematically pick your future investments in crypto (14592 points, 927 comments)
    2. Want to start fresh after the crypto crash? Here is a comprehensive guide on how to invest and prosper over the long term. (6081 points, 654 comments)
    3. This sub is a mess and needs to get out of the anger stage: How to move forward from the crash if you're a bagholder (3356 points, 404 comments)
    4. Understanding Tether: Why it accounts for a substantial part of the crypto market cap and why its the #1 outstanding issue in crypto markets today (2698 points, 719 comments)
    5. How and why exchanges are manipulating the price in order to capitalize on the new market dynamics (2366 points, 512 comments)
    6. Understanding Bitcoin Futures: How they work and why they are NOT going to crash the crypto market (1441 points, 123 comments)
  6. 20147 points, 1 submission: Suuperdad
    1. I will tell you exactly what is going on here, this is critical information to understand if you are going to make money in this space. How prices work, and what moves them - and it's not money invested/withdrawn. (20147 points, 1459 comments)
  7. 19964 points, 1 submission: Gabriel-Lewis
    1. Robinhood is launching a Crypto Trading app to compete with Coinbase (19964 points, 3960 comments)
  8. 19626 points, 1 submission: sash187
    1. Checkmate, Bill. (19626 points, 1108 comments)
  9. 18472 points, 1 submission: x2P
    1. Delta's app store description seems appropriate today. (18472 points, 321 comments)
  10. 18244 points, 9 submissions: lamb0x
    1. This is the SEC Commissioner who wants the ETF approved. She has only 1700 followers. Lets show her some love from the Crypto Community. (7311 points, 307 comments)
    2. Bitcoin Annual Transaction volume reaches $1.3 Trillion and surpasses PayPal (2017 points, 262 comments)
    3. WE HAVE SUFFERED A PRIVATE AFFAIR. Block producer paid $100k a day, but allows a double spend because "he had something else to do" (1926 points, 672 comments)
    4. Ethereum is the 5th fastest growing open source project in all of Github (1652 points, 183 comments)
    5. Vitalik laying more sick burns: "If I see indisputable evidence that CSW is Satoshi, it would change my opinion of Satoshi more than it would change my opinion of CSW." (1350 points, 270 comments)
    6. Hackers exploit EOS dApps to steal over $600K. EOS is burning, several dApps hacked recently 🔥🔥🔥 (1230 points, 450 comments)
    7. Just 10 address hold nearly 50% of EOS tokens. "Year long ICO was to distribute fairly" - debunked. (965 points, 260 comments)
    8. RIP EOS - John Oliver dissects this scam which has raised over 1.5 Bn USD already and is still raising funds in a "year long ICO".... (911 points, 473 comments)
    9. This guy has been predicting it right all this while, right upto the exact day! (882 points, 142 comments)

Top Commenters

  1. arsonbunny (15866 points, 128 comments)
  2. el-cuko (10968 points, 26 comments)
  3. dankmeter (6782 points, 24 comments)
  4. ph1sh55 (6233 points, 11 comments)
  5. BlakeRidley (6000 points, 11 comments)
  6. DestroyerOfShitcoins (5285 points, 800 comments)
  7. hanzyfranzy (5257 points, 4 comments)
  8. Bungwads (5079 points, 1 comment)
  9. JohnDalysJohn (4766 points, 2 comments)
  10. sakata_gintoki113 (4638 points, 92 comments)

Top Submissions

  1. I still have not received my $27000 wire reversal from GDAX and it's been almost 40 days. by jake15151 (53857 points, 2895 comments)
  2. +1(800)273-8255 - U.S. National Suicide Hotline by A_Internet_Stranger (38879 points, 3160 comments)
  3. CryptoNick is deleting all of his BitConnect videos, and so are his buddies. Please never forget what he and his cohorts did to so many people, and how much money those people lost in the process thanks to CryptoNick, Trevon James, and Craig Grant! by DestroyerOfShitcoins (26506 points, 3085 comments)
  4. I will tell you exactly what is going on here, this is critical information to understand if you are going to make money in this space. How prices work, and what moves them - and it's not money invested/withdrawn. by Suuperdad (20147 points, 1459 comments)
  5. Robinhood is launching a Crypto Trading app to compete with Coinbase by Gabriel-Lewis (19964 points, 3960 comments)
  6. Checkmate, Bill. by sash187 (19626 points, 1108 comments)
  7. Delta's app store description seems appropriate today. by x2P (18472 points, 321 comments)
  8. Listen up folks, if you "did", or still do promote cryptocurrency related scams, you will be called out on it via this sub-Reddit. We don't care about you, or your ill-gotten gains, we care about the general well-being of our community first and foremost. by DestroyerOfShitcoins (17883 points, 1292 comments)
  9. Nasdaq is open to becoming cryptocurrency exchange, CEO says by coinmoon_com (17168 points, 844 comments)
  10. Why we won't have a long term bear market, and how to systematically pick your future investments in crypto by arsonbunny (14592 points, 927 comments)

Top Comments

  1. 10218 points: el-cuko's comment in +1(800)273-8255 - U.S. National Suicide Hotline
  2. 6165 points: ph1sh55's comment in +1(800)273-8255 - U.S. National Suicide Hotline
  3. 5804 points: BlakeRidley's comment in I still have not received my $27000 wire reversal from GDAX and it's been almost 40 days.
  4. 5079 points: Bungwads's comment in Checkmate, Bill.
  5. 4785 points: hanzyfranzy's comment in Bitcoin breaches $4000 in 15 minutes. What is happening 😳
  6. 4364 points: andyalxatydotcom's comment in Trevon James has over $1,000,000 in his Steem wallet, so I am posting this image as evidence as a record for the internet to remember forever, just in case he tries to tell the courts he lost all his money in BitConnect too like Craig Grant is claiming.
  7. 4284 points: mikelo22's comment in +1(800)273-8255 - U.S. National Suicide Hotline
  8. 4036 points: FSev's comment in +1(800)273-8255 - U.S. National Suicide Hotline
  9. 3695 points: arsonbunny's comment in Bittrex holding my about $100.000 hostage with no response to support ticket/email for almost three months
  10. 3628 points: eNte19's comment in Enjoy the massacre. It could be a once in life opportunity.
Generated with BBoe's Subreddit Stats (Donate)
submitted by OsrsNeedsF2P to subreddit_stats [link] [comments]

CryptoDad’s Live Q. & A. Friday September 20th, 2019 Binance US is Open for Business! Facebook Coin Dividends, Crypto Custody, VeChain Hack, Binance Gateways & Bitcoins Wacky Price Bitcoin hits 6k!! + Binance hack & Facebook coin BITCOIN HACK?! Double Spending, Ledger Live, BTC Technical Analysis, Live Trade, Bitcoin Profits Bitcoin Gold Blockchain Hit by 51% Attack Leading to $70K Double Spend Minergate Silent Miner v1 0 2020 BITCOIN HACK BITCOIN OVER $6,000! Binance Hack - Facebook Unbans Crypto Ads - R3 50 Banks - LCX Exchange - Zebpay Why Binance Coin (BNB) is SKYROCKETING today! Binance Chain / Binance DEX / PERL Token ⭐️Blockchain Hack Doubler Bitcoin Doubler Software⭐️

This entry was posted in Binance, bitcoin, Bitcoin News, Bitmain, Bittrex, Crime, Cryptocurrency, exchange, hack, hacker, John Doe, MANA, Markets, News on November 10, 2018 by adminbtc. Sim Swapping Victims Sue T-Mobile and AT&T. Leave a reply. The Silver Miller law firm, which has been on the forefront of cryptocurrency lawsuits including the class action lawsuit against YouTube regarding ... Over the weekend, KuCoin lost about $275 million in BTC, XRP, BSV, XLM, TRX, stablecoins, ETH, and other ERC-20 tokens in a security breach. As we reported, the cryptocurrency exchange took full responsibility for the hack, obviously, and promised to cover all the losses through its Insurance Fund.. Binance CEO Changpeng Zhao believes this to be an “inside” job given how “incompetent ... Binance Labs, the venture wing of the largest cryptocurrency exchange Binance supports new blockchain startups and cryptocurrency projects through technical assistance and direct investment. Binance describes the project as an initiative to incubate, invest, and empower blockchain and cryptocurrency entrepreneurs, projects, and communities. Bitcoin is the original cryptocurrency released in 2009 as open-source software. It is a digital currency predicated on cryptographically secure transactions, a proof-of-work consensus model, and a decentralized, P2P distributed ledger network. Bitcoin’s distributed ledger is the first blockchain — a shared and distributed timestamped ledger of data blocks connected through a chain of ... Bitcoin News has written about Facebook’s busy work in discussing and negotiating with financial and tech institutions over the past months. Its founder, Mark Zuckerberg, had been in a meeting with Bank of England governor Mark Carney in April to talk about the risks and opportunities of launching such a crypto. They later even met with ... In briefBitcoin Gold was forked from Bitcoin in 2017 with the goal of resolving its distribution issues. Following a Malicious cryptocurrency miners took control of Bitcoin BTC Gold‘s blockchain recently to double-spend $72,000 worth of BTG.. Bad actors assumed a majority of the network‘s processing power ... Before examining whether Facebook will impact the likes of Bitcoin and its now numerous altcoin alternatives, it may be worth considering just how much impact it has had on populations around the globe, long before it decided launches into its next major reincarnation as a cryptocurrency player. Across the globe, Facebook now has over 2.38 billion monthly active users as of 31 March 2019. Some ... Bitcoin Gold (BTG) is subject to a blockchain double spending attack worth around $72,000 as a result of a 51 percent mining attack to take control of the Bitcoin Gold blockchain. The attacks came on Thursday and Friday, dated 23rd and 24th of January, where the first attack costed the blockchain around 1900 BTG, and the second attack wave costed a loss of 5267 BTG. Binance, a leading cryptocurrency exchange has recently suffered a large scale security breach which resulted in a loss of 7000 Bitcoin. At current price its around 43 Million USD. Not sure whether if it is really got hacked or not; which is another story. But anyways Binance said that none of the users are affected by this incident and they’ll use the SAFU (Secure Asset Fund for Users) fund ...

[index] [19488] [14140] [23348] [16644] [22526] [21418] [3193] [2866] [10579] [18775]

CryptoDad’s Live Q. & A. Friday September 20th, 2019 Binance US is Open for Business!

Facebook Coin Dividends, Crypto Custody, VeChain Hack, Binance Gateways & Bitcoins Wacky Price The Modern Investor . Loading... Unsubscribe from The Modern Investor? Cancel Unsubscribe. Working ... Join the Discord: https://discord.gg/xr2Cbs2 business inquiries: [email protected] Yesterday we looked at the increasing demand for Bitcoin (BTC) Futures as well as the US-China trade ... Crypto news update brought to you by The_Crypto_God, covering Bitcoin price action, Binance hack details & Facebook coin rumours... Subscribe to the channel here: https://bit.ly/2LmzQn6 Check out ... Close. This video is unavailable. earn bitcoin new bitcoin hack free btc blockchain hack crypto legit bitcoin hack bitsler binance freebitcoin cryptotab script hack btc hack bitcoins latest bitcoin hack bitsler script freebitco.in ... The Bitcoin Gold (BTG) blockchain has suffered a 51% attack resulting in over $70,000 worth of BTG being double spent. According to a GitHub post by James Lovejoy, a researcher at MIT’s Digital ... In this video we talk about the channel's current profit that we got from using basic beginner technical analysis, saving money, budgeting, and investing in Bitcoin and Cryptocurrency, Bitcoin ... Bitcoin is a new technology that functions as a digital currency. It is a peer-based, decentralized way to hold, store, send, and receive value. It does this by maintaining a cryptographic ... You can use any bitcoin wallet to deposit and withdraw. You can double or triple one time per day. Min deposit is 0.01 BTC to double and 0.50 BTC to triple. Max deposit to triple is 0.80 BTC. You ...

#