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Ytaopal Agent Review + Guide

Hey Guys,
after I shipped my last few Hauls via Ytaopal I think I can give a honest Opinion about Ytaopal and can give you some Tips about Ytaopal
If you are using Superbuy, you should check out hyperionfr `s Guide here. Its better and bigger than mine but he only talked about Superbuy as Agent, that inspired me about doing my own little Guide for yall.

Structure

  1. Basics (brought to you by hyperionfr)
  2. How to buy from Taobao, Tmall, Yupoo and more Sources via Ytaopal
  3. Shipping and Customs (+ my Experiences)
  4. My Experiences with Ytaopal (+ compared to Superbuy)

Basics

1. What is an Agent?

tl;dr: An Agent is a commercial Service which lets you buy Items off of Chinese Websites and deliveres them to you. An Agent also sends you Pictures of your Items before shipping and is talking to the Sellers for you. These Services take a small fee for their Service but this is in the most cases absolutely worth it so you should use them.

For new users coming to this sub daily it is hard to directly understand the point of an agent. Be honest, you did not do better in your first days/weeks. So instead of redirecting them to the searchbar just explain it to them in 2 sentences.
The main website we buy our reps from is taobao.com. It is like a amazon or eBay for China - solely for China. The problem that results is that we need a connection between your country and China. You cannot buy from TaoBao directly (for most of the countries) and you probably would not understand anything. So here comes the agent in hand. You browse through your favorite TaoBao shops and find some items you want to buy. Now you do not buy it through TaoBao but through your agent (in our case Ytaopal). Ytaopal now buys this exact item and lets it deliver to their warehouse. You ask for pictures, measurements, exchanges, returns etc. When everything is fine Ytaopal will package everything and deliver it to you. They are the connection between you and TaoBao.
(the longer Text was written by hyperionfr for his Guide)

2. Which agent to use?

As suggested by the Title of the Post, Im using Ytaopal. In my time into Fashionreps I used a few Agents like Superbuy, Basetao, CSSBuy and Ytaopal. None of them is bad but there are some differences in their offerings and prices. For first-time buyers I would suggest going with Superbuy, which is a bit more expensive then the other ones but is the most professional and the most easy to use. In addition, you can find more than enough Guides for buying via Superbuy on this Subreddit.

How to buy from Taobao, Tmall, Yupoo and more Sources via Ytaopal

1. Buying things on Chinese Websites

tl;dr Taobao/Tmall Tutorial:
  1. get a Link for what you want
  2. go to Ytaopal and paste your Link into the Searchbar
  3. Select type and sizing
  4. Click the "Add to Cart" Button
  5. Go into your Cart
  6. Click the Checkout Button
  7. Pay the Items

1.1 Signing Up

Just go to the top-right corner and select "Register". Just put in your email, username and password and you should be fine.

1.2 Finding Items

You can buy Items from many different Chinese Sites. You can find the officially Supported Sites on Ytaopals Homepage, altough its not listed there, you can order from Yupoo and Wechat too.
For finding the Items you want, just take a look into the Subreddit and check out some of the Hauls other Guys did. In most cases you can find a Review of the Item and a Link to the Seller. You can also click some recommended Links on Taobao or explore some sellers on Yupoo.
A big help while checking out Items on Taobao can be u/AColdFloor `s QCSuite Addon which can be found here. It displays the QC Pictures of other Users to you right on the Taobao site. With that, you can check how the Item looks in reality and can decide better.
For Translating Chinese I found Google Translator (for Websites) and Yandex Image OCR (for Pictures) the most useful. Most of the time you can get a Sense of what the Seller is trying to tell you.

1.3 Buying Items

If you found the Items you want, click at the Searchbar at the Homepage of Ytaopal and just Copy your Link into it. If its a Link from a officially Supported Site you can just Click the Options and you see a Picture of your Pick. The Price will also be automatically filled.
If you want to order from CNFashionBuy/CNFashionPub, scroll down at the Articles Site and click the Yupoo link. After you got the Yupoo Link just do the usual Ordering Process through Yupoo (below). When using the CN Sites, set the "Price" to that listed on the Site and set "Shipping" to 0.
If you want to order from Yupoo, paste the Link into the searchbar on the Homepage and the Ytaopal Site will be Blank. Now fill out the Blank Spaces, into "Title" just copy the Name of the Yupoo Album of your desired Item. Prices should be listed somewhere on Yupoo too. Now just fill in the Size you want into the "Comments" field.
If you want to order from WeChat, write an Email towards [[email protected]](mailto:[email protected]) telling them the WeChat Name and the Items you want, try to specify what you want as specific as possible.
How to order from Taobao Imgur Tutorial
How to order from Yupoo Imgur Tutorial

1.4 Paying

Ytaopal uses a Balance System, that means you cant be overcharged and can only pay what you charged up before. All Refunds will be added to your Ytaopal Balance.
To charge up your balance just navigate to the Dashboard of your Ytaopal Account and click "recharge". For adding Money to your Account you can use Debit Cards, Bitcoin, Western Union, Bank Transfer, iDeal, Giropay, Polipayment, Trustpay, EPS, Mistercash, Mybank (France/Belgium/Italy and Luxembourg), Sofort, Safetypay and Multibanco. You can select the amount you want to charge up and the fees for it will be shown below.
If you want to pay with Paypal (which is pretty likely), just write an Email at the Support. They are gonna tell you the Paypal-adress and what you have to do. Paying with Paypal is fee-less and takes 24h at most. (the Support needs to add the Balance manually to your Account)

1.5 the Warehouse

After you ordered your Items, you can see them listed in your Warehouse after they arrive at Ytaopal. The Warehouse lists your Items and shows the Order-Number, Price and Weight.
When your Items are listed in the Warehouse, you can click on "QC Album" (on the Dashboard) or "My QC Pictures" (at the Sidebar) to see the Pictures your Agent took of your Pieces. In my opinion, those pictures are far superior to the QC Pics of Superbuy. (more to my Experiences down below)
Ytaopal Warehouse + QC Pics Imgur Album

2. Getting your Items shipped to you

tl;dr Tutorial:
  1. go to your Warehouse
  2. select the Items you want to ship
  3. click the "Add to package" Button
  4. Fill in your Adress and your favourite shipping method
  5. Pay for your Package
To get your fresh new clothes shipped to you, just go to your Warehouse and tick the Boxes besides the Items you want to ship then click "add new Package" and you will be taken towards the Checkout Screen. There you select your Shipping Adress, Shipping Service (DHL GANG GANG) and Select if you wanted to keep Boxes or throw them away. You should throw them away if you dont need them, that saves you a lot of money and can be benefical with the customs. Underneath you can input some Comments that you want to tell Ytaopal, unless like other Agents Ytaopal will not write those Comments on your Parcel.
Ytaopal shipping Screenshot Imgur

2.1 Declaration

tl;dr Tutorial:
  1. Check the total weight of your Parcel
  2. Check the Customs Regulations about Parcels for your Country
  3. Pick the Price you want to declare your Haul at
  4. Submit your Parcel
  5. Write an Email to the Support including your Parcel-Number and tell them how you want to declare your Items.
  6. Ask the Support to send you the Invoice they put on your Parcel
My Tip for you is to let the Comment Section blank and write an Email to the Support after you submitted your Parcel. When you write an Email you can tell them exactly how you want to declare it. If you dont tell them anything they will declare it at original Pricing so you should at least do it in the Comments if you dont want to write that Email. Also, if you dont tell them anything about the Items inside, they will just put the real Items on the Box (e.g. if you bought 3 Hoodies and 1 Shirt, it will just be declared at 3 Hoodies and 1 Shirt but fitting to the Price you want). If you just say they should declare it to 30$ for example they are gonna fit your Items to 30$ with free Shipping. Depending on your Country, you should probably set it to ~5$ Shipping or how you want. Remember to ask them to send you the Invoice they put on the Parcel.
You will not receive a shipping Refund with Ytaopal, but the Pricing is a good bit cheaper than Superbuys. You can calculate shipping Prices via the Calculator found on their Homepage, remember that this is only accurate with EMS as DHL goes for volumetric weight which you cannot be calculated.

2.2 What happens when the Customs Check my Haul

First Advice, calm down. It is very unlikely that Customs open up your Haul randomly. If you are in a Country of the European Union, Customs cannot open your Parcel without you accepting to open it if its not looking Suspicious.

If you are using DHL, just check the Tracking Site to see your Parcelstatus."Customs status updated" - Your Parcel has been announced to Customs or you need to hand-in a Proof of Worth for your Items. You can see this when clicking on the "+ Button" on the tracking Site.
" Processed for clearance at LEIPZIG - GERMANY " - The Customs started working on your Parcel, nothing bad.
" Clearance event " - Your Parcel is stuck or delayed, most of the time you are fine. If its on this Status for a longer Period of time, call DHL."Clearance processing complete at LEIPZIG - GERMANY " - Your Parcel got through Customs without Problems!
How to do the Proof of Worth:
Obviously, you dont want to pay Taxes so you need to fake the Invoice. The Invoice that Ytaopal sent you is not going to be accepted as such Invoices can easily be faked. So what do you send the Customs then?
Just go to your Paypal recent activities and pick a Payment. Click F12 and edit the Date of the Transaction (to the Date your Parcel was Packed), the Worth (to your declared Value). Just take a Screenshot of your edited Transaction and upload it to DHL4You. You may need to call them and tell them you uploaded it afterwards.
Sometimes they want the Proof of Worth for every single Item, just go to your Parcel on Ytaopal and F12 again. Change the Values of the Items to match the total worth of your Parcel and just send them this Screenshot too.

There are probably Guides for declaration for your specific Countries on the Subreddit, just search them.

3. My Experiences with Ytaopal (+ compared to Superbuy)

In my Experience, Ytaopals Customer Support is the best I ever encountered. Big thanks to Alice and Shmily for helping me out with my Questions and Orders. As you can see in the Pics, I spammed them a little bit and they were very kind and never Rude. Remember Bois, always be nice to your Agent and Sellers, they are getting your Shit for you.
The Emails I wrote to Ytaopal Imgur
Here is a quick comparison between the 2 Agentservices:
Ytaopal Superbuy
- better QC Pics - definetly worse QC pics
- more Personal, worse Website - more automated, better Website
- uses their own Mind instead of just doing what you said - does strictly what you said
- only Beijing-Time Support - 24/7 Support
- fewer Workers, slower when there are more Parcels - more Workers

As seen in the Table, Ytaopal is an Agent which requires you to Contact them a lot to manage your Shipments and Orders. That may be a bit complicated for newcommers, but gives experienced shoppers a lot more "customization".


If you got any more Questions or anything, just write a Comment or send me Message, im glad to help.
submitted by byReqz to FashionReps [link] [comments]

Which are your Top 5 favourite coins out of the Top 100? An analysis.

I am putting together my investment portfolio for 2018 and made a complete summary of the current Top 100. Interestingly, I noticed that all coins can be categorized into 12 markets. Which markets do you think will play the biggest role in the coming year?
Here is a complete overview of all coins in an excel sheet including name, market, TPS, risk profile, time since launch (negative numbers mean that they are launching that many months in the future) and market cap. You can also sort by all of these fields of course. Coins written in bold are the strongest contenders within their market either due to having the best technology or having a small market cap and still excellent technology and potential. https://docs.google.com/spreadsheets/d/1s8PHcNvvjuy848q18py_CGcu8elRGQAUIf86EYh4QZo/edit#gid=0
The 12 markets are
  1. Currency 13 coins
  2. Platform 25 coins
  3. Ecosystem 9 coins
  4. Privacy 10 coins
  5. Currency Exchange Tool 8 coins
  6. Gaming & Gambling 5 coins
  7. Misc 15 coins
  8. Social Network 4 coins
  9. Fee Token 3 coins
  10. Decentralized Data Storage 4 coins
  11. Cloud Computing 3 coins
  12. Stable Coin 2 coins
Before we look at the individual markets, we need to take a look of the overall market and its biggest issue scalability first:
Cryptocurrencies aim to be a decentralized currency that can be used worldwide. Its goal is to replace dollar, Euro, Yen, all FIAT currencies worldwide. The coin that will achieve that will be worth several trillion dollars.
Bitcoin can only process 7 transactions per second (TPS). In order to replace all FIAT, it would need to perform at at least VISA levels, which usually processes around 3,000 TPS, up to 25,000 TPS during peak times and a maximum of 64,000 TPS. That means that this cryptocurrency would need to be able to perform at least several thousand TPS. However, a ground breaking technology should not look at current technology to set a goal for its use, i.e. estimating the number of emails sent in 1990 based on the number of faxes sent wasn’t a good estimate.
For that reason, 10,000 TPS is the absolute baseline for a cryptocurrency that wants to replace FIAT. This brings me to IOTA, which wants to connect all 80 billion IoT devices that are expected to exist by 2025, which constantly communicate with each other, creating 80 billion or more transactions per second. This is the benchmark that cryptocurrencies should be aiming for. Currently, 8 billion devices are connected to the Internet.
With its Lightning network recently launched, Bitcoin is realistically looking at 50,000 possible soon. Other notable cryptocurrencies besides IOTA and Bitcoin are Nano with 7,000 TPS already tested, Dash with several billion TPS possible with Masternodes, Neo, LISK and RHOC with 100,000 TPS by 2020, Ripple with 50,000 TPS, Ethereum with 10,000 with Sharding.
However, it needs to be said that scalability usually goes at the cost of decentralization and security. So, it needs to be seen, which of these technologies can prove itself resilient and performant.
Without further ado, here are the coins of the first market

Market 1 - Currency:

  1. Bitcoin: 1st generation blockchain with currently bad scalability currently, though the implementation of the Lightning Network looks promising and could alleviate most scalability concerns, scalability and high energy use.
  2. Ripple: Centralized currency that might become very successful due to tight involvement with banks and cross-border payments for financial institutions; banks and companies like Western Union and Moneygram (who they are currently working with) as customers customers. However, it seems they are aiming for more decentralization now.https://ripple.com/dev-blog/decentralization-strategy-update/. Has high TPS due to Proof of Correctness algorithm.
  3. Bitcoin Cash: Bitcoin fork with the difference of having an 8 times bigger block size, making it 8 times more scalable than Bitcoin currently. Further block size increases are planned. Only significant difference is bigger block size while big blocks lead to further problems that don't seem to do well beyond a few thousand TPS. Opponents to a block size argue that increasing the block size limit is unimaginative, offers only temporary relief, and damages decentralization by increasing costs of participation. In order to preserve decentralization, system requirements to participate should be kept low. To understand this, consider an extreme example: very big blocks (1GB+) would require data center level resources to validate the blockchain. This would preclude all but the wealthiest individuals from participating.Community seems more open than Bitcoin's though.
  4. Litecoin : Little brother of Bitcoin. Bitcoin fork with different mining algorithm but not much else.Copies everything that Bitcoin does pretty much. Lack of real innovation.
  5. Dash: Dash (Digital Cash) is a fork of Bitcoin and focuses on user ease. It has very fast transactions within seconds, low fees and uses Proof of Service from Masternodes for consensus. They are currently building a system called Evolution which will allow users to send money using usernames and merchants will find it easy to integrate Dash using the API. You could say Dash is trying to be a PayPal of cryptocurrencies. Currently, cryptocurrencies must choose between decentralization, speed, scalability and can pick only 2. With Masternodes, Dash picked speed and scalability at some cost of decentralization, since with Masternodes the voting power is shifted towards Masternodes, which are run by Dash users who own the most Dash.
  6. IOTA: 3rd generation blockchain called Tangle, which has a high scalability, no fees and instant transactions. IOTA aims to be the connective layer between all 80 billion IOT devices that are expected to be connected to the Internet in 2025, possibly creating 80 billion transactions per second or 800 billion TPS, who knows. However, it needs to be seen if the Tangle can keep up with this scalability and iron out its security issues that have not yet been completely resolved.
  7. Nano: 3rd generation blockchain called Block Lattice with high scalability, no fees and instant transactions. Unlike IOTA, Nano only wants to be a payment processor and nothing else, for now at least. With Nano, every user has their own blockchain and has to perform a small amount of computing for each transaction, which makes Nano perform at 300 TPS with no problems and 7,000 TPS have also been tested successfully. Very promising 3rd gen technology and strong focus on only being the fastest currency without trying to be everything.
  8. Decred: As mining operations have grown, Bitcoin’s decision-making process has become more centralized, with the largest mining companies holding large amounts of power over the Bitcoin improvement process. Decred focuses heavily on decentralization with their PoW Pos hybrid governance system to become what Bitcoin was set out to be. They will soon implement the Lightning Network to scale up. While there do not seem to be more differences to Bitcoin besides the novel hybrid consensus algorithm, which Ethereum, Aeternity and Bitcoin Atom are also implementing, the welcoming and positive Decred community and professoinal team add another level of potential to the coin.
  9. Aeternity: We’ve seen recently, that it’s difficult to scale the execution of smart contracts on the blockchain. Crypto Kitties is a great example. Something as simple as creating and trading unique assets on Ethereum bogged the network down when transaction volume soared. Ethereum and Zilliqa address this problem with Sharding. Aeternity focuses on increasing the scalability of smart contracts and dapps by moving smart contracts off-chain. Instead of running on the blockchain, smart contracts on Aeternity run in private state channels between the parties involved in the contracts. State channels are lines of communication between parties in a smart contract. They don’t touch the blockchain unless they need to for adjudication or transfer of value. Because they’re off-chain, state channel contracts can operate much more efficiently. They don’t need to pay the network for every time they compute and can also operate with greater privacy. An important aspect of smart contract and dapp development is access to outside data sources. This could mean checking the weather in London, score of a football game, or price of gold. Oracles provide access to data hosted outside the blockchain. In many blockchain projects, oracles represent a security risk and potential point of failure, since they tend to be singular, centralized data streams. Aeternity proposes decentralizing oracles with their oracle machine. Doing so would make outside data immutable and unchangeable once it reaches Aeternity’s blockchain. Of course, the data source could still be hacked, so Aeternity implements a prediction market where users can bet on the accuracy and honesty of incoming data from various oracles.It also uses prediction markets for various voting and verification purposes within the platform. Aeternity’s network runs on on a hybrid of proof of work and proof of stake. Founded by a long-time crypto-enthusiast and early colleague of Vitalik Buterin, Yanislav Malahov. Promising concept though not product yet
  10. Bitcoin Atom: Atomic Swaps and hybrid consenus. This looks like the only Bitcoin clone that actually is looking to innovate next to Bitcoin Cash.
  11. Dogecoin: Litecoin fork, fantastic community, though lagging behind a bit in technology.
  12. Bitcoin Gold: A bit better security than bitcoin through ASIC resistant algorithm, but that's it. Not that interesting.
  13. Digibyte: Digibyte's PoS blockchain is spread over a 100,000+ servers, phones, computers, and nodes across the globe, aiming for the ultimate level of decentralization. DigiByte rebalances the load between the five mining algorithms by adjusting the difficulty of each so one algorithm doesn’t become dominant. The algorithm's asymmetric difficulty has gained notoriety and been deployed in many other blockchains.DigiByte’s adoption over the past four years has been slow. It’s still a relatively obscure currency compared its competitors. The DigiByte website offers a lot of great marketing copy and buzzwords. However, there’s not much technical information about what they have planned for the future. You could say Digibyte is like Bitcoin, but with shorter blocktimes and a multi-algorithm. However, that's not really a difference big enough to truly set themselves apart from Bitcoin, since these technologies could be implemented by any blockchain without much difficulty. Their decentralization is probably their strongest asset, however, this also change quickly if the currency takes off and big miners decide to go into Digibyte.
  14. Bitcoin Diamond Asic resistant Bitcoin and Copycat

Market 2 - Platform

Most of the cryptos here have smart contracts and allow dapps (Decentralized apps) to be build on their platform and to use their token as an exchange of value between dapp services.
  1. Ethereum: 2nd generation blockchain that allows the use of smart contracts. Bad scalability currently, though this concern could be alleviated by the soon to be implemented Lightning Network aka Plasma and its Sharding concept.
  2. EOS: Promising technology that wants to be able do everything, from smart contracts like Ethereum, scalability similar to Nano with 1000 tx/second + near instant transactions and zero fees, to also wanting to be a platform for dapps. However, EOS doesn't have a product yet and everything is just promises still. Highly overvalued right now. However, there are lots of red flags, have dumped $500 million Ether over the last 2 months and possibly bought back EOS to increase the size of their ICO, which has been going on for over a year and has raised several billion dollars. All in all, their market cap is way too high for that and not even having a product.
  3. Cardano: Similar to Ethereum/EOS, however, only promises made with no delivery yet, highly overrated right now. Interesting concept though. Market cap way too high for not even having a product. Somewhat promising technology.
  4. VeChain: Singapore-based project that’s building a business enterprise platform and inventory tracking system. Examples are verifying genuine luxury goods and food supply chains. Has one of the strongest communities in the crypto world. Most hyped token of all, with merit though.
  5. Neo: Neo is a platform, similar to Eth, but more extensive, allowing dapps and smart contracts, but with a different smart contract gas system, consensus mechanism (PoS vs. dBfT), governance model, fixed vs unfixed supply, expensive contracts vs nearly free contracts, different ideologies for real world adoption. There are currently only 9 nodes, each of which are being run by a company/entity hand selected by the NEO council (most of which are located in china) and are under contract. This means that although the locations of the nodes may differ, ultimately the neo council can bring them down due to their legal contracts. In fact this has been done in the past when the neo council was moving 50 million neo that had been locked up. Also dbft (or neo's implmentation of it) has failed underload causing network outages during major icos. The first step in decentralization is that the NEO Counsel will select trusted nodes (Universities, business partners, etc.) and slowly become less centralized that way. The final step in decentralization will be allowing NEO holders to vote for new nodes, similar to a DPoS system (ARK/EOS/LISK). NEO has a regulation/government friendly ideology. Finally they are trying to work undewith the Chinese government in regards to regulations. If for some reason they wanted it shut down, they could just shut it down.
  6. Stellar: PoS system, similar goals as Ripple, but more of a platform than only a currency. 80% of Stellar are owned by Stellar.org still, making the currency centralized.
  7. Ethereum classic: Original Ethereum that decided not to fork after a hack. The Ethereum that we know is its fork. Uninteresing, because it has a lot of less resources than Ethereum now and a lot less community support.
  8. Ziliqa: Zilliqa is building a new way of sharding. 2400 tpx already tested, 10,000 tps soon possible by being linearly scalable with the number of nodes. That means, the more nodes, the faster the network gets. They are looking at implementing privacy as well.
  9. QTUM: Enables Smart contracts on the Bitcoin blockchain. Useful.
  10. Icon: Korean ethereum. Decentralized application platform that's building communities in partnership with banks, insurance providers, hospitals, and universities. Focused on ID verification and payments. No big differentiators to the other 20 Ethereums, except that is has a product. That is a plus. Maybe cheap alternative to Ethereum.
  11. LISK: Lisk's difference to other BaaS is that side chains are independent to the main chain and have to have their own nodes. Similar to neo whole allows dapps to deploy their blockchain to. However, Lisk is currently somewhat centralized with a small group of members owning more than 50% of the delegated positions. Lisk plans to change the consensus algorithm for that reason in the near future.
  12. Rchain: Similar to Ethereum with smart contract, though much more scalable at an expected 40,000 TPS and possible 100,000 TPS. Not launched yet. No product launched yet, though promising technology. Not overvalued, probably at the right price right now.
  13. ARDR: Similar to Lisk. Ardor is a public blockchain platform that will allow people to utilize the blockchain technology of Nxt through the use of child chains. A child chain, which is a ‘light’ blockchain that can be customized to a certain extent, is designed to allow easy self-deploy for your own blockchain. Nxt claims that users will "not need to worry" about security, as that part is now handled by the main chain (Ardor). This is the chief innovation of Ardor. Ardor was evolved from NXT by the same company. NEM started as a NXT clone.
  14. Ontology: Similar to Neo. Interesting coin
  15. Bytom: Bytom is an interactive protocol of multiple byte assets. Heterogeneous byte-assets (indigenous digital currency, digital assets) that operate in different forms on the Bytom Blockchain and atomic assets (warrants, securities, dividends, bonds, intelligence information, forecasting information and other information that exist in the physical world) can be registered, exchanged, gambled and engaged in other more complicated and contract-based interoperations via Bytom.
  16. Nxt: Similar to Lisk
  17. Stratis: Different to LISK, Stratis will allow businesses and organizations to create their own blockchain according to their own needs, but secured on the parent Stratis chain. Stratis’s simple interface will allow organizations to quickly and easily deploy and/or test blockchain functionality of the Ethereum, BitShares, BitCoin, Lisk and Stratis environements.
  18. Status: Status provides access to all of Ethereum’s decentralized applications (dapps) through an app on your smartphone. It opens the door to mass adoption of Ethereum dapps by targeting the fastest growing computer segment in the world – smartphone users.16. Ark: Fork of Lisk that focuses on a smaller feature set. Ark wallets can only vote for one delegate at a time which forces delegates to compete against each other and makes cartel formations incredibly hard, if not impossible.
  19. Neblio: Similar to Neo, but 30x smaller market cap.
  20. NEM: Is similar to Neo No marketing team, very high market cap for little clarilty what they do.
  21. Bancor: Bancor is a Decentralized Liquidity Network that allows you to hold any Ethereum token and convert it to any other token in the network, with no counter party, at an automatically calculated price, using a simple web wallet.
  22. Dragonchain: The Purpose of DragonChain is to help companies quickly and easily incorporate blockchain into their business applications. Many companies might be interested in making this transition because of the benefits associated with serving clients over a blockchain – increased efficiency and security for transactions, a reduction of costs from eliminating potential fraud and scams, etc.
  23. Skycoin: Transactions with zero fees that take apparently two seconds, unlimited transaction rate, no need for miners and block rewards, low power usage, all of the usual cryptocurrency technical vulnerabilities fixed, a consensus mechanism superior to anything that exists, resistant to all conceivable threats (government censorship, community infighting, cybenucleaconventional warfare, etc). Skycoin has their own consensus algorithm known as Obelisk written and published academically by an early developer of Ethereum. Obelisk is a non-energy intensive consensus algorithm based on a concept called ‘web of trust dynamics’ which is completely different to PoW, PoS, and their derivatives. Skywire, the flagship application of Skycoin, has the ambitious goal of decentralizing the internet at the hardware level and is about to begin the testnet in April. However, this is just one of the many facets of the Skycoin ecosystem. Skywire will not only provide decentralized bandwidth but also storage and computation, completing the holy trinity of commodities essential for the new internet. Skycion a smear campaign launched against it, though they seem legit and reliable. Thus, they are probably undervalued.

Market 3 - Ecosystem

The 3rd market with 11 coins is comprised of ecosystem coins, which aim to strengthen the ease of use within the crypto space through decentralized exchanges, open standards for apps and more
  1. Nebulas: Similar to how Google indexes webpages Nebulas will index blockchain projects, smart contracts & data using the Nebulas rank algorithm that sifts & sorts the data. Developers rewarded NAS to develop & deploy on NAS chain. Nebulas calls this developer incentive protocol – basically rewards are issued based on how often dapp/contract etc. is used, the more the better the rewards and Proof of devotion. Works like DPoS except the best, most economically incentivised developers (Bookkeeppers) get the forging spots. Ensuring brains stay with the project (Cross between PoI & PoS). 2,400 TPS+, DAG used to solve the inter-transaction dependencies in the PEE (Parallel Execution Environment) feature, first crypto Wallet that supports the Lightening Network.
  2. Waves: Decentralized exchange and crowdfunding platform. Let’s companies and projects to issue and manage their own digital coin tokens to raise money.
  3. Salt: Leveraging blockchain assets to secure cash loands. Plans to offer cash loans in traditional currencies, backed by your cryptocurrency assets. Allows lenders worldwide to skip credit checks for easier access to affordable loans.
  4. CHAINLINK: ChainLink is a decentralized oracle service, the first of its kind. Oracles are defined as an ‘agent’ that finds and verifies real-world occurrences and submits this information to a blockchain to be used in smart contracts.With ChainLink, smart contract users can use the network’s oracles to retrieve data from off-chain application program interfaces (APIs), data pools, and other resources and integrate them into the blockchain and smart contracts. Basically, ChainLink takes information that is external to blockchain applications and puts it on-chain. The difference to Aeternity is that Chainlink deploys the smart contracts on the Ethereum blockchain while Aeternity has its own chain.
  5. WTC: Combines blockchain with IoT to create a management system for supply chains Interesting
  6. Ethos unifyies all cryptos. Ethos is building a multi-cryptocurrency phone wallet. The team is also building an investment diversification tool and a social network
  7. Aion: Aion is the token that pays for services on the Aeternity platform.
  8. USDT: is no cryptocurrency really, but a replacement for dollar for trading After months of asking for proof of dollar backing, still no response from Tether.

Market 4 - Privacy

The 4th market are privacy coins. As you might know, Bitcoin is not anonymous. If the IRS or any other party asks an exchange who is the identity behind a specific Bitcoin address, they know who you are and can track back almost all of the Bitcoin transactions you have ever made and all your account balances. Privacy coins aim to prevent exactly that through address fungability, which changes addresses constantly, IP obfuscation and more. There are 2 types of privacy coins, one with completely privacy and one with optional privacy. Optional Privacy coins like Dash and Nav have the advantage of more user friendliness over completely privacy coins such as Monero and Enigma.
  1. Monero: Currently most popular privacy coin, though with a very high market cap. Since their privacy is all on chain, all prior transactions would be deanonymized if their protocol is ever cracked. This requires a quantum computing attack though. PIVX is better in that regard.
  2. Zcash: A decentralized and open-source cryptocurrency that hide the sender, recipient, and value of transactions. Offers users the option to make transactions public later for auditing. Decent privacy coin, though no default privacy
  3. Verge: Calls itself privacy coin without providing private transactions, multiple problems over the last weeks has a toxic community, and way too much hype for what they have.
  4. Bytecoin: First privacy-focused cryptocurrency with anonymous transactions. Bytecoin’s code was later adapted to create Monero, the more well-known anonymous cryptocurrency. Has several scam accusations, 80% pre-mine, bad devs, bad tech
  5. Bitcoin Private: A merge fork of Bitcoin and Zclassic with Zclassic being a fork of Zcash with the difference of a lack of a founders fee required to mine a valid block. This promotes a fair distribution, preventing centralized coin ownership and control. Bitcoin private offers the optional ability to keep the sender, receiver, and amount private in a given transaction. However, this is already offered by several good privacy coins (Monero, PIVX) and Bitcoin private doesn't offer much more beyond this.
  6. Komodo: The Komodo blockchain platform uses Komodo’s open-source cryptocurrency for doing transparent, anonymous, private, and fungible transactions. They are then made ultra-secure using Bitcoin’s blockchain via a Delayed Proof of Work (dPoW) protocol and decentralized crowdfunding (ICO) platform to remove middlemen from project funding. Offers services for startups to create and manage their own Blockchains.
  7. PIVX: As a fork of Dash, PIVX uses an advanced implementation of the Zerocoin protocol to provide it’s privacy. This is a form of zeroknowledge proofs, which allow users to spend ‘Zerocoins’ that have no link back to them. Unlike Zcash u have denominations in PIVX, so they can’t track users by their payment amount being equal to the amount of ‘minted’ coins, because everyone uses the same denominations. PIVX is also implementing Bulletproofs, just like Monero, and this will take care of arguably the biggest weakness of zeroknowledge protocols: the trusted setup.
  8. Zcoin: PoW cryptocurrency. Private financial transactions, enabled by the Zerocoin Protocol. Zcoin is the first full implementation of the Zerocoin Protocol, which allows users to have complete privacy via Zero-Knowledge cryptographic proofs.
  9. Enigma: Monero is to Bitcoin what enigma is to Ethereum. Enigma is for making the data used in smart contracts private. More of a platform for dapps than a currency like Monero. Very promising.
  10. Navcoin: Like bitcoin but with added privacy and pos and 1,170 tps, but only because of very short 30 second block times. Though, privacy is optional, but aims to be more user friendly than Monero. However, doesn't really decide if it wants to be a privacy coin or not. Same as Zcash.Strong technology, non-shady team.
  11. Tenx: Raised 80 million, offers cryptocurrency-linked credit cards that let you spend virtual money in real life. Developing a series of payment platforms to make spending cryptocurrency easier. However, the question is if full privacy coins will be hindered in growth through government regulations and optional privacy coins will become more successful through ease of use and no regulatory hindrance.

Market 5 - Currency Exchange Tool

Due to the sheer number of different cryptocurrencies, exchanging one currency for the other it still cumbersome. Further, merchants don’t want to deal with overcluttered options of accepting cryptocurrencies. This is where exchange tool like Req come in, which allow easy and simple exchange of currencies.
  1. Cryptonex: Fiat and currency exchange between various blockchain services, similar to REQ.
  2. QASH: Qash is used to fuel its liquid platform which will be an exchange that will distribute their liquidity pool. Its product, the Worldbook is a multi-exchange order book that matches crypto to crypto, and crypto to fiat and the reverse across all currencies. E.g., someone is selling Bitcoin is USD on exchange1 not owned by Quoine and someone is buying Bitcoin in EURO on exchange 2 not owned by Quoine. If the forex conversions and crypto conversions match then the trade will go through and the Worldbook will match it, it'll make the sale and the purchase on either exchange and each user will get what they wanted, which means exchanges with lower liquidity if they join the Worldbook will be able to fill orders and take trade fees they otherwise would miss out on.They turned it on to test it a few months ago for an hour or so and their exchange was the top exchange in the world by 4x volume for the day because all Worldbook trades ran through it. Binance wants BNB to be used on their one exchange. Qash wants their QASH token embedded in all of their partners. More info here https://www.reddit.com/CryptoCurrency/comments/8a8lnwhich_are_your_top_5_favourite_coins_out_of_the/dwyjcbb/?context=3
  3. Kyber: network Exchange between cryptocurrencies, similar to REQ. Features automatic coin conversions for payments. Also offers payment tools for developers and a cryptocurrency wallet.
  4. Achain: Building a boundless blockchain world like Req .
  5. Req: Exchange between cryptocurrencies.
  6. Bitshares: Exchange between cryptocurrencies. Noteworthy are the 1.5 second average block times and throughput potential of 100,000 transactions per second with currently 2,400 TPS having been proven. However, bitshares had several Scam accusations in the past.
  7. Loopring: A protocol that will enable higher liquidity between exchanges and personal wallets.
  8. ZRX: Open standard for dapps. Open, permissionless protocol allowing for ERC20 tokens to be traded on the Ethereum blockchain. In 0x protocol, orders are transported off-chain, massively reducing gas costs and eliminating blockchain bloat. Relayers help broadcast orders and collect a fee each time they facilitate a trade. Anyone can build a relayer.

Market 6 - Gaming

With an industry size of $108B worldwide, Gaming is one of the largest markets in the world. For sure, cryptocurrencies will want to have a share of that pie.
  1. Storm: Mobile game currency on a platform with 9 million players.
  2. Fun: A platform for casino operators to host trustless, provably-fair gambling through the use of smart contracts, as well as creating their own implementation of state channels for scalability.
  3. Electroneum: Mobile game currency They have lots of technical problems, such as several 51% attacks
  4. Wax: Marketplace to trade in-game items

Market 7 - Misc

There are various markets being tapped right now. They are all summed up under misc.
  1. OMG: Omise is designed to enable financial services for people without bank accounts. It works worldwide and with both traditional money and cryptocurrencies.
  2. Power ledger: Australian blockchain-based cryptocurrency and energy trading platform that allows for decentralized selling and buying of renewable energy. Unique market and rather untapped market in the crypto space.
  3. Populous: A platform that connects business owners and invoice buyers without middlemen. Invoice sellers get cash flow to fund their business and invoice buyers earn interest. Similar to OMG, small market.
  4. Monacoin: The first Japanese cryptocurrency. Focused on micro-transactions and based on a popular internet meme of a type-written cat. This makes it similar to Dogecoin. Very niche, tiny market.
  5. Revain: Legitimizing reviews via the blockchain. Interesting concept, though market not as big.
  6. Augur: Platform to forecast and make wagers on the outcome of real-world events (AKA decentralized predictions). Uses predictions for a “wisdom of the crowd” search engine. Not launched yet.
  7. Substratum: Revolutionzing hosting industry via per request billing as a decentralized internet hosting system. Uses a global network of private computers to create the free and open internet of the future. Participants earn cryptocurrency. Interesting concept.
  8. Veritaseum: Is supposed to be a peer to peer gateway, though it looks like very much like a scam.
  9. TRON: Tronix is looking to capitalize on ownership of internet data to content creators. However, they plagiarized their white paper, which is a no go. They apologized, so it needs to be seen how they will conduct themselves in the future. Extremely high market cap for not having a product, nor proof of concept.
  10. Syscoin: A cryptocurrency with a decentralized marketplace that lets people buy and sell products directly without third parties. Trying to remove middlemen like eBay and Amazon.
  11. Hshare: Most likely scam because of no code changes, most likely pump and dump scheme, dead community.
  12. BAT: An Ethereum-based token that can be exchanged between content creators, users, and advertisers. Decentralized ad-network that pays based on engagement and attention.
  13. Dent: Decentralizeed exchange of mobile data, enabling mobile data to be marketed, purchased or distributed, so that users can quickly buy or sell data from any user to another one.
  14. Ncash: End to end encrypted Identification system for retailers to better serve their customers .
  15. Factom Secure record-keeping system that allows companies to store their data directly on the Blockchain. The goal is to make records more transparent and trustworthy .

Market 8 - Social network

Web 2.0 is still going strong and Web 3.0 is not going to ignore it. There are several gaming tokens already out there and a few with decent traction already, such as Steem, which is Reddit with voting through money is a very interesting one.
  1. Mithril: As users create content via social media, they will be rewarded for their contribution, the better the contribution, the more they will earn
  2. Steem: Like Reddit, but voting with money. Already launched product and Alexa rank 1,000 Thumbs up.
  3. Rdd: Reddcoin makes the process of sending and receiving money fun and rewarding for everyone. Reddcoin is dedicated to one thing – tipping on social networks as a way to bring cryptocurrency awareness and experience to the general public.
  4. Kin: Token for the platform Kik. Kik has a massive user base of 400 million people. Replacing paying with FIAT with paying with KIN might get this token to mass adoption very quickly.

Market 9 - Fee token

Popular exchanges realized that they can make a few billion dollars more by launching their own token. Owning these tokens gives you a reduction of trading fees. Very handy and BNB (Binance Coin) has been one of the most resilient tokens, which have withstood most market drops over the last weeks and was among the very few coins that could show growth.
  1. BNB: Fee token for Binance
  2. Gas: Not a Fee token for an exchange, but it is a dividend paid out on Neo and a currency that can be used to purchase services for dapps.
  3. Kucoin: Fee token for Kucoin

Market 10 - Decentralized Data Storage

Currently, data storage happens with large companies or data centers that are prone to failure or losing data. Decentralized data storage makes loss of data almost impossible by distributing your files to numerous clients that hold tiny pieces of your data. Remember Torrents? Torrents use a peer-to-peer network. It is similar to that. Many users maintain copies of the same file, when someone wants a copy of that file, they send a request to the peer-to-peer network., users who have the file, known as seeds, send fragments of the file to the requester., he requester receives many fragments from many different seeds, and the torrent software recompiles these fragments to form the original file.
  1. Gbyte: Byteball data is stored and ordered using directed acyclic graph (DAG) rather than blockchain. This allows all users to secure each other's data by referencing earlier data units created by other users, and also removes scalability limits common for blockchains, such as blocksize issue.
  2. Siacoin: Siacoin is decentralized storage platform. Distributes encrypted files to thousands of private users who get paid for renting out their disk space. Anybody with siacoins can rent storage from hosts on Sia. This is accomplish via "smart" storage contracts stored on the Sia blockchain. The smart contract provides a payment to the host only after the host has kept the file for a given amount of time. If the host loses the file, the host does not get paid.
  3. Maidsafecoin: MaidSafe stands for Massive Array of Internet Disks, Secure Access for Everyone.Instead of working with data centers and servers that are common today and are vulnerable to data theft and monitoring, SAFE’s network uses advanced P2P technology to bring together the spare computing capacity of all SAFE users and create a global network. You can think of SAFE as a crowd-sourced internet. All data and applications reside in this network. It’s an autonomous network that automatically sets prices and distributes data and rents out hard drive disk space with a Blockchain-based storage solutions.When you upload a file to the network, such as a photo, it will be broken into pieces, hashed, and encrypted. The data is then randomly distributed across the network. Redundant copies of the data are created as well so that if someone storing your file turns off their computer, you will still have access to your data. And don’t worry, even with pieces of your data on other people’s computers, they won’t be able to read them. You can earn MadeSafeCoins by participating in storing data pieces from the network on your computer and thus earning a Proof of Resource.
  4. Storj: Storj aims to become a cloud storage platform that can’t be censored or monitored, or have downtime. Your files are encrypted, shredded into little pieces called 'shards', and stored in a decentralized network of computers around the globe. No one but you has a complete copy of your file, not even in an encrypted form.

Market 11 - Cloud computing

Obviously, renting computing power, one of the biggest emerging markets as of recent years, e.g. AWS and Digital Ocean, is also a service, which can be bought and managed via the blockchain.
  1. Golem: Allows easy use of Supercomputer in exchange for tokens. People worldwide can rent out their computers to the network and get paid for that service with Golem tokens.
  2. Elf: Allows easy use of Cloud computing in exchange for tokens.

Market 12 - Stablecoin

Last but not least, there are 2 stablecoins that have established themselves within the market. A stable coin is a coin that wants to be independent of the volatility of the crypto markets. This has worked out pretty well for Maker and DGD, accomplished through a carefully diversified currency fund and backing each token by 1g or real gold respectively. DO NOT CONFUSE DGD AND MAKER with their STABLE COINS DGX and DAI. DGD and MAKER are volatile, because they are the companies of DGX and DAI. DGX and DAI are the stable coins.
  1. DGD: Platform of the Stablecoin DGX. Every DGX coin is backed by 1g of gold and make use proof of asset consensus.
  2. Maker: Platform of the Stablecoin DAI that doesn't vary much in price through widespread and smart diversification of assets.
EDIT: Added a risk factor from 0 to 10. The baseline is 2 for any crypto. Significant scandals, mishaps, shady practices, questionable technology, increase the risk factor. Not having a product yet automatically means a risk factor of 6. Strong adoption and thus strong scrutiny or positive community lower the risk factor.
EDIT2: Added a subjective potential factor from 0 to 10, where its overall potential and a small or big market cap is factored in. Bitcoin with lots of potential only gets a 9, because of its massive market cap, because if Bitcoin goes 10x, smaller coins go 100x, PIVX gets a 10 for being as good as Monero while carrying a 10x smaller market cap, which would make PIVX go 100x if Monero goes 10x.
submitted by galan77 to CryptoCurrency [link] [comments]

Which are your top 5 coins out of the top100? An analysis.

I am putting together my investment portfolio for 2018 and made a complete summary of the current Top 100. Interestingly, I noticed that all coins can be categorized into 12 markets. Which markets do you think will play the biggest role in the coming year?
Here is a complete overview of all coins in an excel sheet including name, a full description, market, TPS, risk profile, time since launch (negative numbers mean that they are launching that many months in the future) and market cap. You can also sort by all of these fields of course. Coins written in bold are the strongest contenders within their market either due to having the best technology or having a small market cap and still excellent technology and potential. https://docs.google.com/spreadsheets/d/1s8PHcNvvjuy848q18py_CGcu8elRGQAUIf86EYh4QZo/edit#gid=0
The 12 markets are
  1. Currency 13 coins
  2. Platform 25 coins
  3. Ecosystem 9 coins
  4. Privacy 9 coins
  5. Currency Exchange Tool 8 coins
  6. Gaming & Gambling 4 coins
  7. Misc 15 coins
  8. Social Network 4 coins
  9. Fee Token 3 coins
  10. Decentralized Data Storage 4 coins
  11. Cloud Computing 2 coins
  12. Stable Coin 3 coins
Before we look at the individual markets, we need to take a look of the overall market and its biggest issue, scalability, first:
Cryptocurrencies aim to be a decentralized currency that can be used worldwide. Their goal is to replace dollar, Euro, Yen, all FIAT currencies globally. The coin that will achieve that will be worth several trillion dollars.
Bitcoin can only process 7 transactions per second (TPS) currently. In order to replace all FIAT, it would need to perform at least at VISA levels, which usually processes around 3,000 TPS, up to 25,000 TPS during peak times and a maximum of 64,000 TPS. That means that this cryptocurrency would need to be able to perform at least several thousand TPS. However, a ground breaking technology should not look at current technology to set a goal for its use, i.e. estimating the number of emails sent in 1990 based on the number of faxes sent wasn’t a good estimate.
For that reason, 10,000 TPS is the absolute baseline for a cryptocurrency that wants to replace FIAT. This brings me to IOTA, which wants to connect all 80 billion IoT devices that are expected to exist by 2025, which constantly communicate with each other, possibly creating 80 billion or more transactions per second. This is the benchmark that cryptocurrencies should be aiming for. Currently, 8 billion devices are connected to the Internet.
With its Lightning network recently launched, Bitcoin is realistically looking at 50,000 possible TPS soon. Other notable cryptocurrencies besides IOTA and Bitcoin are Nano with 7,000 TPS already tested, Dash with several billion TPS possible with Masternodes, Neo, LISK and RHOC with 100,000 TPS by 2020, Ripple with 50,000 TPS, Ethereum with 10,000 TPS with Sharding.
However, it needs to be said that scalability usually goes at the cost of decentralization and security. So, it needs to be seen, which of these technologies can prove themselves decentralized while maintaining high TPS.
Without further ado, here are the coins of the first market. Each market is sorted by market cap.

Market 1 - Currency:

  1. Bitcoin: 1st generation blockchain with currently bad scalability, though the implementation of the Lightning Network looks promising and could alleviate most scalability and high energy use concerns.
  2. Ripple: Centralized currency that might become very successful due to tight involvement with banks and cross-border payments for financial institutions; banks and companies like Western Union and Moneygram (who they are currently working with) as customers customers. However, it seems they are aiming for more decentralization now.https://ripple.com/dev-blog/decentralization-strategy-update/. Has high TPS due to Proof of Correctness algorithm.
  3. Bitcoin Cash: Bitcoin fork with the difference of having an 8 times bigger block size, making it 8 times more scalable than Bitcoin currently. Further block size increases are planned. Only significant difference is bigger block size while big blocks lead to further problems that don't seem to do well beyond a few thousand TPS. Opponents to a block size argue that increasing the block size limit is unimaginative, offers only temporary relief, and damages decentralization by increasing costs of participation. In order to preserve decentralization, system requirements to participate should be kept low. To understand this, consider an extreme example: very big blocks (1GB+) would require data center level resources to validate the blockchain. This would preclude all but the wealthiest individuals from participating.Community seems more open than Bitcoin's though.
  4. Litecoin : Little brother of Bitcoin. Bitcoin fork with different mining algorithm but not much else.Copies everything that Bitcoin does pretty much. Lack of real innovation.
  5. Dash: Dash (Digital Cash) is a fork of Bitcoin and focuses on user ease. It has very fast transactions within seconds, low fees and uses Proof of Service from Masternodes for consensus. They are currently building a system called Evolution which will allow users to send money using usernames and merchants will find it easy to integrate Dash using the API. You could say Dash is trying to be a PayPal of cryptocurrencies. Currently, cryptocurrencies must choose between decentralization, speed, scalability and can pick only 2. With Masternodes, Dash picked speed and scalability at some cost of decentralization, since with Masternodes the voting power is shifted towards Masternodes, which are run by Dash users who own the most Dash.
  6. IOTA: 3rd generation blockchain called Tangle, which has a high scalability, no fees and instant transactions. IOTA aims to be the connective layer between all 80 billion IOT devices that are expected to be connected to the Internet in 2025, possibly creating 80 billion transactions per second or 800 billion TPS, who knows. However, it needs to be seen if the Tangle can keep up with this scalability and iron out its security issues that have not yet been completely resolved.
  7. Nano: 3rd generation blockchain called Block Lattice with high scalability, no fees and instant transactions. Unlike IOTA, Nano only wants to be a payment processor and nothing else, for now at least. With Nano, every user has their own blockchain and has to perform a small amount of computing for each transaction, which makes Nano perform at 300 TPS with no problems and 7,000 TPS have also been tested successfully. Very promising 3rd gen technology and strong focus on only being the fastest currency without trying to be everything.
  8. Decred: As mining operations have grown, Bitcoin’s decision-making process has become more centralized, with the largest mining companies holding large amounts of power over the Bitcoin improvement process. Decred focuses heavily on decentralization with their PoW Pos hybrid governance system to become what Bitcoin was set out to be. They will soon implement the Lightning Network to scale up. While there do not seem to be more differences to Bitcoin besides the novel hybrid consensus algorithm, which Ethereum, Aeternity and Bitcoin Atom are also implementing, the welcoming and positive Decred community and professoinal team add another level of potential to the coin.
  9. Bitcoin Atom: Atomic Swaps and hybrid consenus. This looks like the only Bitcoin clone that actually is looking to innovate next to Bitcoin Cash.
  10. Dogecoin: Litecoin fork, fantastic community, though lagging behind a bit in technology.
  11. Bitcoin Gold: A bit better security than bitcoin through ASIC resistant algorithm, but that's it. Not that interesting.
  12. Digibyte: Digibyte's PoS blockchain is spread over a 100,000+ servers, phones, computers, and nodes across the globe, aiming for the ultimate level of decentralization. DigiByte’s adoption over the past four years has been slow. The DigiByte website offers a lot of great marketing copy and buzzwords. However, there’s not much technical information about what they have planned for the future. You could say Digibyte is like Bitcoin, but with shorter blocktimes and a multi-algorithm. However, that's not really a difference big enough to truly set themselves apart from Bitcoin, since these technologies could be implemented by any blockchain without much difficulty. Their decentralization is probably their strongest asset, however, this also change quickly if the currency takes off and big miners decide to go into Digibyte.
  13. Bitcoin Diamond Asic resistant Bitcoin and Copycat

Market 2 - Platform

Most of the cryptos here have smart contracts and allow dapps (Decentralized apps) to be build on their platform and to use their token as an exchange of value between dapp services.
  1. Ethereum: 2nd generation blockchain that allows the use of smart contracts. Bad scalability currently, though this concern could be alleviated by the soon to be implemented Lightning Network aka the Raiden Network, Plasma and its Sharding concept.
  2. EOS: Promising technology that wants to be able do everything, from smart contracts like Ethereum, scalability similar to Nano with 1000 tx/second + near instant transactions and zero fees, to also wanting to be a platform for dapps. However, EOS doesn't have a product yet and everything is just promises still. There are lots of red flags, e.g. having dumped $500 million Ether over the last 2 months and possibly bought back EOS to increase the size of their ICO, which has been going on for over a year and has raised several billion dollars. All in all, their market cap is way too high for that and not even having a product. However, Mainnet release is in 1 month, which could change everything.
  3. Cardano: Similar to Ethereum/EOS, however, only promises made with no delivery yet, highly overrated right now. Interesting concept though. Market cap way too high for not even having a product. Somewhat promising technology.
  4. VeChain: Singapore-based project that’s building a business enterprise platform and inventory tracking system. Examples are verifying genuine luxury goods and food supply chains. Has one of the strongest communities in the crypto world. Most hyped token of all, with merit though.
  5. Neo: Neo is a platform, similar to Eth, but more extensive, allowing dapps and smart contracts, but with a different smart contract gas system, consensus mechanism (PoS vs. dBfT), governance model, fixed vs unfixed supply, expensive contracts vs nearly free contracts, different ideologies for real world adoption. There are currently only 9 nodes, each of which are being run by a company/entity hand selected by the NEO council (most of which are located in china) and are under contract. This means that although the locations of the nodes may differ, ultimately the neo council can bring them down due to their legal contracts. In fact this has been done in the past when the neo council was moving 50 million neo that had been locked up. Also dbft (or neo's implmentation of it) has failed underload causing network outages during major icos. The first step in decentralization is that the NEO Counsel will select trusted nodes (Universities, business partners, etc.) and slowly become less centralized that way. The final step in decentralization will be allowing NEO holders to vote for new nodes, similar to a DPoS system (ARK/EOS/LISK). NEO has a regulation/government friendly ideology. Finally they are trying to work undewith the Chinese government in regards to regulations. If for some reason they wanted it shut down, they could just shut it down.
  6. Stellar:PoS system, similar goals as Ripple, but more of a platform than only a currency. 80% of Stellar are owned by Stellar.org still, making the currency centralized.
  7. Ethereum classic: Original Ethereum that decided not to fork after a hack. The Ethereum that we know is its fork. Uninteresing, because it has a lot of less resources than Ethereum now and a lot less community support.
  8. Ziliqa: Zilliqa is building a new way of sharding. 2400 tpx already tested, 10,000 tps soon possible by being linearly scalable with the number of nodes. That means, the more nodes, the faster the network gets. They are looking at implementing privacy as well.
  9. QTUM: Enables Smart contracts on the Bitcoin blockchain. Useful.
  10. Icon: Korean ethereum. Decentralized application platform that's building communities in partnership with banks, insurance providers, hospitals, and universities. Focused on ID verification and payments.
  11. LISK: Lisk's difference to other BaaS is that side chains are independent to the main chain and have to have their own nodes. Similar to neo whole allows dapps to deploy their blockchain to. Like most cryptocurrencies, Lisk is currently somewhat centralized with a small group of members owning more than 50% of the delegated positions. Lisk plans to change the consensus algorithm for that reason in the near future.
  12. Rchain: Similar to Ethereum with smart contract, though much more scalable at an expected 40,000 TPS and possible 100,000 TPS. Not launched yet. No product launched yet, though promising technology. Not overvalued, probably at the right price right now.
  13. ARDR: Similar to Lisk. Ardor is a public blockchain platform that will allow people to utilize the blockchain technology of Nxt through the use of child chains. A child chain, which is a ‘light’ blockchain that can be customized to a certain extent, is designed to allow easy self-deploy for your own blockchain. Nxt claims that users will "not need to worry" about security, as that part is now handled by the main chain (Ardor). This is the chief innovation of Ardor. Ardor was evolved from NXT by the same company. NEM started as a NXT clone.
  14. Ontology: Similar to Neo. Interesting coin
  15. Bytom: Bytom is an interactive protocol of multiple byte assets. Heterogeneous byte-assets (indigenous digital currency, digital assets) that operate in different forms on the Bytom Blockchain and atomic assets (warrants, securities, dividends, bonds, intelligence information, forecasting information and other information that exist in the physical world) can be registered, exchanged, gambled and engaged in other more complicated and contract-based interoperations via Bytom.
  16. Nxt: Similar to Lisk
  17. Aeternity: We’ve seen recently, that it’s difficult to scale the execution of smart contracts on the blockchain. Crypto Kitties is a great example. Something as simple as creating and trading unique assets on Ethereum bogged the network down when transaction volume soared. Ethereum and Zilliqa address this problem with Sharding. Aeternity focuses on increasing the scalability of smart contracts and dapps by moving smart contracts off-chain. Instead of running on the blockchain, smart contracts on Aeternity run in private state channels between the parties involved in the contracts. State channels are lines of communication between parties in a smart contract. They don’t touch the blockchain unless they need to for adjudication or transfer of value. Because they’re off-chain, state channel contracts can operate much more efficiently. An important aspect of smart contract and dapp development is access to outside data sources. This could mean checking the weather in London, score of a football game, or price of gold. Oracles provide access to data hosted outside the blockchain. In many blockchain projects, oracles represent a security risk and potential point of failure, since they tend to be singular, centralized data streams. Aeternity proposes decentralizing oracles with their oracle machine. Doing so would make outside data immutable and unchangeable once it reaches Aeternity’s blockchain. Aeternity’s network runs on on a hybrid of proof of work and proof of stake. Founded by a long-time crypto-enthusiast and early colleague of Vitalik Buterin, Yanislav Malahov. Promising concept though not product yet
  18. Stratis: Different to LISK, Stratis will allow businesses and organizations to create their own blockchain according to their own needs, but secured on the parent Stratis chain. Stratis’s simple interface will allow organizations to quickly and easily deploy and/or test blockchain functionality of the Ethereum, BitShares, BitCoin, Lisk and Stratis environements.
  19. Status: Status provides access to all of Ethereum’s decentralized applications (dapps) through an app on your smartphone. It opens the door to mass adoption of Ethereum dapps by targeting the fastest growing computer segment in the world – smartphone users.
  20. Ark: Fork of Lisk that focuses on a smaller feature set. Ark wallets can only vote for one delegate at a time which forces delegates to compete against each other and makes cartel formations incredibly hard, if not impossible.
  21. Neblio: Similar to Neo, but at a 30x smaller market cap.
  22. NEM: Is similar to Neo. However, it has no marketing team, very high market cap for little clarilty what they do.
  23. Bancor: Bancor is a Decentralized Liquidity Network that allows you to hold any Ethereum token and convert it to any other token in the network, with no counter party, at an automatically calculated price, using a simple web wallet.
  24. Dragonchain: The Purpose of DragonChain is to help companies quickly and easily incorporate blockchain into their business applications. Many companies might be interested in making this transition because of the benefits associated with serving clients over a blockchain – increased efficiency and security for transactions, a reduction of costs from eliminating potential fraud and scams, etc.
  25. Skycoin: Transactions with zero fees that take apparently two seconds, unlimited transaction rate, no need for miners and block rewards, low power usage, all of the usual cryptocurrency technical vulnerabilities fixed, a consensus mechanism superior to anything that exists, resistant to all conceivable threats (government censorship, community infighting, cybenucleaconventional warfare, etc). Skycoin has their own consensus algorithm known as Obelisk written and published academically by an early developer of Ethereum. Obelisk is a non-energy intensive consensus algorithm based on a concept called ‘web of trust dynamics’ which is completely different to PoW, PoS, and their derivatives. Skywire, the flagship application of Skycoin, has the ambitious goal of decentralizing the internet at the hardware level and is about to begin the testnet in April. However, this is just one of the many facets of the Skycoin ecosystem. Skywire will not only provide decentralized bandwidth but also storage and computation, completing the holy trinity of commodities essential for the new internet. Skycion a smear campaign launched against it, though they seem legit and reliable. Thus, they are probably undervalued.

Market 3 - Ecosystem

The 3rd market with 11 coins is comprised of ecosystem coins, which aim to strengthen the ease of use within the crypto space through decentralized exchanges, open standards for apps and more
  1. Nebulas: Similar to how Google indexes webpages Nebulas will index blockchain projects, smart contracts & data using the Nebulas rank algorithm that sifts & sorts the data. Developers rewarded NAS to develop & deploy on NAS chain. Nebulas calls this developer incentive protocol – basically rewards are issued based on how often dapp/contract etc. is used, the more the better the rewards and Proof of devotion. Works like DPoS except the best, most economically incentivised developers (Bookkeeppers) get the forging spots. Ensuring brains stay with the project (Cross between PoI & PoS). 2,400 TPS+, DAG used to solve the inter-transaction dependencies in the PEE (Parallel Execution Environment) feature, first crypto Wallet that supports the Lightening Network.
  2. Waves: Decentralized exchange and crowdfunding platform. Let’s companies and projects to issue and manage their own digital coin tokens to raise money.
  3. Salt: Leveraging blockchain assets to secure cash loands. Plans to offer cash loans in traditional currencies, backed by your cryptocurrency assets. Allows lenders worldwide to skip credit checks for easier access to affordable loans.
  4. CHAINLINK: ChainLink is a decentralized oracle service, the first of its kind. Oracles are defined as an ‘agent’ that finds and verifies real-world occurrences and submits this information to a blockchain to be used in smart contracts.With ChainLink, smart contract users can use the network’s oracles to retrieve data from off-chain application program interfaces (APIs), data pools, and other resources and integrate them into the blockchain and smart contracts. Basically, ChainLink takes information that is external to blockchain applications and puts it on-chain. The difference to Aeternity is that Chainlink deploys the smart contracts on the Ethereum blockchain while Aeternity has its own chain.
  5. WTC: Combines blockchain with IoT to create a management system for supply chains Interesting
  6. Ethos unifyies all cryptos. Ethos is building a multi-cryptocurrency phone wallet. The team is also building an investment diversification tool and a social network
  7. Komodo: The Komodo blockchain platform uses Komodo’s open-source cryptocurrency for doing transparent, anonymous, private, and fungible transactions. They are then made ultra-secure using Bitcoin’s blockchain via a Delayed Proof of Work (dPoW) protocol and decentralized crowdfunding (ICO) platform to remove middlemen from project funding. Offers services for startups to create and manage their own Blockchains.
  8. Aion: Today, there are hundreds of blockchains. In the coming years, with widespread adoption by mainstream business and government, these will be thousands or millions. Blockchains don’t talk to each other at all right now, they are like the PCs of the 1980s. The Aion network is able to support custom blockchain architectures while still allowing for cross-chain interoperability by enabling users to exchange data between any Aion-compliant blockchains by making use of an interchain framework that allows for messages to be relayed between blockchains in a completely trust-free manner.
  9. Tenx: Raised 80 million, offers cryptocurrency-linked credit cards that let you spend virtual money in real life. Developing a series of payment platforms to make spending cryptocurrency easier.

Market 4 - Privacy

The 4th market are privacy coins. As you might know, Bitcoin is not anonymous. If the IRS or any other party asks an exchange who is the identity behind a specific Bitcoin address, they know who you are and can track back almost all of the Bitcoin transactions you have ever made and all your account balances. Privacy coins aim to prevent exactly that through address fungability, which changes addresses constantly, IP obfuscation and more. There are 2 types of privacy coins, one with completely privacy and one with optional privacy. Optional Privacy coins like Dash and Nav have the advantage of more user friendliness over completely privacy coins such as Monero and Enigma.
  1. Monero: Currently most popular privacy coin, though with a very high market cap. Since their privacy is all on chain, all prior transactions would be deanonymized if their protocol is ever cracked. This requires a quantum computing attack though. PIVX is better in that regard.
  2. Zcash: A decentralized and open-source cryptocurrency that hide the sender, recipient, and value of transactions. Offers users the option to make transactions public later for auditing. Decent privacy coin, though no default privacy
  3. Verge: Calls itself privacy coin without providing private transactions, multiple problems over the last weeks has a toxic community, and way too much hype for what they have.
  4. Bytecoin: First privacy-focused cryptocurrency with anonymous transactions. Bytecoin’s code was later adapted to create Monero, the more well-known anonymous cryptocurrency. Has several scam accusations, 80% pre-mine, bad devs, bad tech
  5. Bitcoin Private: A merge fork of Bitcoin and Zclassic with Zclassic being a fork of Zcash with the difference of a lack of a founders fee required to mine a valid block. This promotes a fair distribution, preventing centralized coin ownership and control. Bitcoin private offers the optional ability to keep the sender, receiver, and amount private in a given transaction. However, this is already offered by several good privacy coins (Monero, PIVX) and Bitcoin private doesn't offer much more beyond this.
  6. PIVX: As a fork of Dash, PIVX uses an advanced implementation of the Zerocoin protocol to provide it’s privacy. This is a form of zeroknowledge proofs, which allow users to spend ‘Zerocoins’ that have no link back to them. Unlike Zcash u have denominations in PIVX, so they can’t track users by their payment amount being equal to the amount of ‘minted’ coins, because everyone uses the same denominations. PIVX is also implementing Bulletproofs, just like Monero, and this will take care of arguably the biggest weakness of zeroknowledge protocols: the trusted setup.
  7. Zcoin: PoW cryptocurrency. Private financial transactions, enabled by the Zerocoin Protocol. Zcoin is the first full implementation of the Zerocoin Protocol, which allows users to have complete privacy via Zero-Knowledge cryptographic proofs.
  8. Enigma: Monero is to Bitcoin what enigma is to Ethereum. Enigma is for making the data used in smart contracts private. More of a platform for dapps than a currency like Monero. Very promising.
  9. Navcoin: Like bitcoin but with added privacy and pos and 1,170 tps, but only because of very short 30 second block times. Though, privacy is optional, but aims to be more user friendly than Monero. However, doesn't really decide if it wants to be a privacy coin or not. Same as Zcash.Strong technology, non-shady team.

Market 5 - Currency Exchange Tool

Due to the sheer number of different cryptocurrencies, exchanging one currency for the other it still cumbersome. Further, merchants don’t want to deal with overcluttered options of accepting cryptocurrencies. This is where exchange tool like Req come in, which allow easy and simple exchange of currencies.
  1. Cryptonex: Fiat and currency exchange between various blockchain services, similar to REQ.
  2. QASH: Qash is used to fuel its liquid platform which will be an exchange that will distribute their liquidity pool. Its product, the Worldbook is a multi-exchange order book that matches crypto to crypto, and crypto to fiat and the reverse across all currencies. E.g., someone is selling Bitcoin is USD on exchange1 not owned by Quoine and someone is buying Bitcoin in EURO on exchange 2 not owned by Quoine. They turned it on to test it a few months ago for an hour or so and their exchange was the top exchange in the world by 4x volume for the day because all Worldbook trades ran through it. Binance wants BNB to be used on their one exchange. Qash wants their QASH token embedded in all of their partners.
  3. Kyber: network Exchange between cryptocurrencies, similar to REQ. Features automatic coin conversions for payments. Also offers payment tools for developers and a cryptocurrency wallet.
  4. Achain: Building a boundless blockchain world like Req .
  5. Centrality: Centrality is a decentralized market place for dapps that are all connected together on a blockchain-powered system. Centrality aims to allow businesses to work together using blockchain technology. With Centrality, startups can collaborate through shared acquisition of customers, data, merchants, and content. That shared acquisition occurs across the Centrality blockchain, which hosts a number of decentralized apps called Scenes. Companies can use CENTRA tokens to purchase Scenes for their app, then leverage the power of the Centrality ecosystem to quickly scale. Some of Centrality's top dapps are, Skoot, a travel experience marketplace that consists of a virtual companion designed for free independent travelers and inbound visitors, Belong, a marketplace and an employee engagement platform that seems at helping business provide rewards for employees, Merge, a smart travel app that acts as a time management system, Ushare, a transports application that works across rental cars, public transport, taxi services, electric bikes and more. All of these dapps are able to communicate with each other and exchange data through Centrality.
  6. Bitshares: Exchange between cryptocurrencies. Noteworthy are the 1.5 second average block times and throughput potential of 100,000 transactions per second with currently 2,400 TPS having been proven. However, Bitshares had several Scam accusations in the past.
  7. Loopring: A protocol that will enable higher liquidity between exchanges and personal wallets by pooling all orders sent to its network and fill these orders through the order books of multiple exchanges. When using Loopring, traders never have to deposit funds into an exchange to begin trading. Even with decentralized exchanges like Ether Delta, IDex, or Bitshares, you’d have to deposit your funds onto the platform, usually via an Ethereum smart contract. But with Loopring, funds always remain in user wallets and are never locked by orders. This gives you complete autonomy over your funds while trading, allowing you to cancel, trim, or increase an order before it is executed.
  8. ZRX: Open standard for dapps. Open, permissionless protocol allowing for ERC20 tokens to be traded on the Ethereum blockchain. In 0x protocol, orders are transported off-chain, massively reducing gas costs and eliminating blockchain bloat. Relayers help broadcast orders and collect a fee each time they facilitate a trade. Anyone can build a relayer.

Market 6 - Gaming

With an industry size of $108B worldwide, Gaming is one of the largest markets in the world. For sure, cryptocurrencies will want to have a share of that pie.
  1. Storm: Mobile game currency on a platform with 9 million players.
  2. Fun: A platform for casino operators to host trustless, provably-fair gambling through the use of smart contracts, as well as creating their own implementation of state channels for scalability.
  3. Electroneum: Mobile game currency They have lots of technical problems, such as several 51% attacks
  4. Wax: Marketplace to trade in-game items

Market 7 - Misc

There are various markets being tapped right now. They are all summed up under misc.
  1. OMG: Omise is designed to enable financial services for people without bank accounts. It works worldwide and with both traditional money and cryptocurrencies.
  2. Power ledger: Australian blockchain-based cryptocurrency and energy trading platform that allows for decentralized selling and buying of renewable energy. Unique market and rather untapped market in the crypto space.
  3. Populous: Populous is a platform that connects business owners and invoice buyers without middlemen. Furthermore, it is a peer-to-peer (P2P) platform that uses blockchain to provide small and medium-sized enterprises (SMEs) a more efficient way to participate in invoice financing. Businesses can sell their outstanding invoices at a discount to quickly free up some cash. Invoice sellers get cash flow to fund their business and invoice buyers earn interest.
  4. Monacoin: The first Japanese cryptocurrency. Focused on micro-transactions and based on a popular internet meme of a type-written cat. This makes it similar to Dogecoin. Very niche, tiny market.
  5. Revain: Legitimizing reviews via the blockchain. Interesting concept, though market not as big.
  6. Augur: Platform to forecast and make wagers on the outcome of real-world events (AKA decentralized predictions). Uses predictions for a “wisdom of the crowd” search engine. Not launched yet.
  7. Substratum: Revolutionzing hosting industry via per request billing as a decentralized internet hosting system. Uses a global network of private computers to create the free and open internet of the future. Participants earn cryptocurrency. Interesting concept.
  8. Veritaseum: Is supposed to be a peer to peer gateway, though it looks like very much like a scam.
  9. TRON: Tronix is looking to capitalize on ownership of internet data to content creators. However, they plagiarized their white paper, which is a no go. They apologized, so it needs to be seen how they will conduct themselves in the future. Extremely high market cap for not having a product, nor proof of concept.
  10. Syscoin: A cryptocurrency with a decentralized marketplace that lets people buy and sell products directly without third parties. Trying to remove middlemen like eBay and Amazon.
  11. Hshare: Most likely scam because of no code changes, most likely pump and dump scheme, dead community.
  12. BAT: An Ethereum-based token that can be exchanged between content creators, users, and advertisers. Decentralized ad-network that pays based on engagement and attention.
  13. Dent: Decentralizeed exchange of mobile data, enabling mobile data to be marketed, purchased or distributed, so that users can quickly buy or sell data from any user to another one.
  14. Ncash: End to end encrypted Identification system for retailers to better serve their customers .
  15. Factom Secure record-keeping system that allows companies to store their data directly on the Blockchain. The goal is to make records more transparent and trustworthy .

Market 8 - Social network

Web 2.0 is still going strong and Web 3.0 is not going to ignore it. There are several gaming tokens already out there and a few with decent traction already, such as Steem, which is Reddit with voting through money is a very interesting one.
  1. Mithril: As users create content via social media, they will be rewarded for their contribution, the better the contribution, the more they will earn
  2. Steem: Like Reddit, but voting with money. Already launched product and Alexa rank 1,000 Thumbs up.
  3. Rdd: Reddcoin makes the process of sending and receiving money fun and rewarding for everyone. Reddcoin is dedicated to one thing – tipping on social networks as a way to bring cryptocurrency awareness and experience to the general public.
  4. Kin: Token for the platform Kik. Kik has a massive user base of 400 million people. Replacing paying with FIAT with paying with KIN might get this token to mass adoption very quickly.

Market 9 - Fee token

Popular exchanges realized that they can make a few billion dollars more by launching their own token. Owning these tokens gives you a reduction of trading fees. Very handy and BNB (Binance Coin) has been one of the most resilient tokens, which have withstood most market drops over the last weeks and was among the very few coins that could show growth.
  1. BNB: Fee token for Binance
  2. Gas: Not a Fee token for an exchange, but it is a dividend paid out on Neo and a currency that can be used to purchase services for dapps.
  3. Kucoin: Fee token for Kucoin

Market 10 - Decentralized Data Storage

Currently, data storage happens with large companies or data centers that are prone to failure or losing data. Decentralized data storage makes loss of data almost impossible by distributing your files to numerous clients that hold tiny pieces of your data. Remember Torrents? Torrents use a peer-to-peer network. It is similar to that. Many users maintain copies of the same file, when someone wants a copy of that file, they send a request to the peer-to-peer network., users who have the file, known as seeds, send fragments of the file to the requester. The requester receives many fragments from many different seeds, and the torrent software recompiles these fragments to form the original file.
  1. Gbyte: Byteball data is stored and ordered using directed acyclic graph (DAG) rather than blockchain. This allows all users to secure each other's data by referencing earlier data units created by other users, and also removes scalability limits common for blockchains, such as blocksize issue.
  2. Siacoin: Siacoin is decentralized storage platform. Distributes encrypted files to thousands of private users who get paid for renting out their disk space. Anybody with siacoins can rent storage from hosts on Sia. This is accomplish via "smart" storage contracts stored on the Sia blockchain. The smart contract provides a payment to the host only after the host has kept the file for a given amount of time. If the host loses the file, the host does not get paid.
  3. Maidsafecoin: MaidSafe stands for Massive Array of Internet Disks, Secure Access for Everyone.Instead of working with data centers and servers that are common today and are vulnerable to data theft and monitoring, You can think of SAFE as a crowd-sourced internet. It’s an autonomous network that automatically sets prices and distributes data and rents out hard drive disk space with a Blockchain-based storage solutions.When you upload a file to the network, such as a photo, it will be broken into pieces, hashed, and encrypted. Then, redundant copies of the data are created as well so that if someone storing your file turns off their computer, you will still have access to your data. And don’t worry, even with pieces of your data on other people’s computers, they won’t be able to read them. You can earn MadeSafeCoins by participating in storing data pieces from the network on your computer and thus earning a Proof of Resource.
  4. Storj: Storj aims to become a cloud storage platform that can’t be censored or monitored, or have downtime. Your files are encrypted, shredded into little pieces called 'shards', and stored in a decentralized network of computers around the globe. No one but you has a complete copy of your file, not even in an encrypted form.

Market 11 - Cloud computing

Obviously, renting computing power, one of the biggest emerging markets as of recent years, e.g. AWS and Digital Ocean, is also a service, which can be bought and managed via the blockchain.
  1. Golem: Allows easy use of Supercomputer in exchange for tokens. People worldwide can rent out their computers to the network and get paid for that service with Golem tokens.
  2. Elf: Allows easy use of Cloud computing in exchange for tokens.

Market 12 - Stablecoin

Last but not least, there are 2 stablecoins that have established themselves within the market. A stable coin is a coin that wants to be independent of the volatility of the crypto markets. This has worked out pretty well for Maker and DGD, accomplished through a carefully diversified currency fund and backing each token by 1g or real gold respectively. DO NOT CONFUSE DGD AND MAKER with their STABLE COINS DGX and DAI. DGD and MAKER are volatile, because they are the companies of DGX and DAI. DGX and DAI are the stable coins.
  1. DGD: Platform of the Stablecoin DGX. Every DGX coin is backed by 1g of gold and make use proof of asset consensus.
  2. Maker: Platform of the Stablecoin DAI that doesn't vary much in price through widespread and smart diversification of assets.
  3. USDT: is no cryptocurrency really, but a replacement for dollar for trading After months of asking for proof of dollar backing, still no response from Tether.
EDIT: Added a risk factor from 0 to 10. Significant scandals, mishaps, shady practices, questionable technology, increase the risk factor. Not having a product yet automatically means a risk factor of 6. Strong adoption and thus strong scrutiny or positive community lower the risk factor.
EDIT2: Added a subjective potential factor from 0 to 10, where its overall potential and a small or big market cap is factored in. Bitcoin with lots of potential only gets a 9, because of its massive market cap, because if Bitcoin goes 10x, smaller coins go 100x.
submitted by galan77 to ethtrader [link] [comments]

A Lost Gem In A Sea Of Shitcoins (vol. 2)

What’s up everyone! (TL:DR at the end this time, I've learned from my past mistakes haha)
 
Yep, it’s me again! New case for a new coin that seems to have taken off lately (and for good reason!) I’ve been researching it deeply lately. For those of you wondering (and in a voluntary spirit of being transparent), I do hold nice bags of the coins I post about. However I do not dump them. I’m a HODLER at heart, and love to invest in and hold coins that have a purpose. You know, like, an actual purpose. I have a Phore masternode, which i intend to keep running indefinitely. I also have a decent chunk of COSS, which I also intend to keep for a very long time (3+ years, until they are a full crypto one-stop-solution).
 
If you’ve missed my previous post, you can find it here:
 
A Lost Gem In A Sea Of Shitcoins, Vol. 1: https://www.reddit.com/CryptoCurrency/comments/7h69xa/a_lost_gem_in_a_sea_of_shitcoins/
 
For those who do not know me, or haven’t read my previous post, here’s my intro: I come from a business & logistics management background. I started investing in cryptocurrencies and trading a little more than six months ago. I am very detail oriented and I’ve been researching all kinds of cryptos, for hours a day, for the past six months. Cryptocurrencies went from a simple hobby to a burning passion during that 6 month period.
 
I’ve spotted great coins at great prices, and it seems I keep doing so! Firstly, Ethereum at 150$. Then NEO when it was antshares (sub-3$), Gas when it was antcoin (sub-30c), OMG when it was sub-1$, ETP at 1$ (ended up selling at 5$, too many wallet issues and kind of lost faith in it), COSS at 6 cents, that ended up getting a lot of visibility due to my last post (23K+ views), and finally, Phore at 60cents.
 
It took me less than an hour of research to understand Phore’s potential. I immediately purchased and setup a Masternode after seeing how undervalued it is compared to coins like Dash, PivX, and other privacy/masternode coins. I must admit, i FOMO’ed in really fast, but then kept on researching after I had secured my cheap PHR, and the more I researched, the more I saw the vision.
 
For those of you that don’t know, Phore is a fork of PIVX. It is a Masternode/Proof of Stake hybrid (MN + PoS), meaning 60% of the block reward goes to Masternodes, 30% to stakers, and 10% is left for the “development fund”.
 
For the newbs reading this (welcome, by the way!), a masternode is basically a node that you deploy on a virtual server (or on your own computer) and it basically verifies the blockchain and maintains concensus alongside the other nodes. You need to “lock” 10000 phore to deploy a Masternode. Proof of Stake, on the other end, basically means you can purchase coins and “Stake them” (aka put them in your wallet) and they will also be used to validate the blockchain. Both masternodes and staking will give you rewards, in Phore coins. Masternodes more than staking, obviously, as you “lock” a rather high amount of coins to deploy one.
 
Allright, so, what’s so good about this Phore coin? Isn’t it just a PivX knock-off?
 
1) Well, first of all, The MN/PoS structure is simply genius IMO. Dash’s value has gone up a lot simply because there is so little in circulation and most of the coins are locked up in masternodes. But Dash is MN/PoW, basically Masternodes + Mining. Miners do not have as big an incentive to hold unlike MN’s, it’s their mining equipment that generates them Dash. In Phore’s Case, yes, we do have the Masternodes locking up most of the supply, but we also have the stakers that are incentivized to lock up their coins to stake, and generate some extra coins.
 
2) Which brings us to point 2. There is a BIG incentive to buy and hold this coin. Masternodes are being deployed at a rate of 5 to 10 per day. This means 50 to 100k phore are being purchased and locked up, every day. On top of that, people that cannot afford a costly masternode, can still buy a few thousand coins and earn “interests” as they help validating the blockchain too! This basically drains the order book, fast, and skyrockets the price.
 
3) What happens when the vast majority (65%+) of the coins are locked up in masternodes, and from the 35% remaining, most of it goes into “staking”? Here’s what happens: the supply becomes increasingly low, the demand increasingly high. People that own masternodes or own decent amounts of coins don’t wanna sell, as the “interests” they make double, triple, quadruple in value, incentivizing them even further to hold.
 
4) What I’ve described in points 1 to 3 is pretty basic stuff. Economics 101. It’s a positive feedback loop: More MN’s/stakers = less coins in circulation = higher price = higher “interests” earned = more people want in = even less coins in circulation = even higher price = even higher “interests”, and it repeats itself until an equilibrium is reached (judging from PivX, equilibrium is at or around 425M market cap). Everybody wants in early on PoS coins, even moreso with MN coins, because of that simple fact. Early dash masternode owners are pretty much laughing right now. Everyone FOMO’s a good masternode coin, and that’s a fact, pure and simple.
 
5) Alright, now let’s dive into the actual “technical” merits of Phore. Phore is developed by an anonymous team. The same team that created Kryptcoin a few years ago (a coin with a decentralized marketplace). The team performed in a stellar fashion with kryptcoin, as well as their marketplace. Unfortunately, they were way ahead of their time with the marketplace. Most people didn’t even know what a bitcoin was back then. Phore definitely has this “old school, underground project” feel to it, and you will notice a good chunk of its community on discord are crypto believers from well before crypto was even talked about. They are “remaking” Kryptcoin from scratch, with tons of added features, and an even better marketplace. The fact they pulled it off back then only further reassures me that they will pull it off even better this time. This team actually has something under its belt.
 
6) Phore will have SegWit, as well as Smart Contracts. Yep, you read that right, smart contracts and dApps will eventually be running on PHORE. Zerocoin protocol as well for completely anonymous transactions.
 
7) Phore is integrating a Decentralized marketplace based on OpenBazaar’s codebase. They aim to have it running smoother, with a better UI and make it very intuitive. If there’s one team you have to believe can pull it off, it’s definitely the Phore dev team (They already did it in the past!) And the best part is that it’s not for late 2018 unlike some other coins. Nope. We are already in the testing phase, and it should launch somewhere in Q1 2018.
 
8) Although it is obvious, I thought I’d mention it for the less familiar: 10% of each block reward goes to the development fund. This means the project has a constant flow of money to hire new devs, grow the marketing team, grow the project, pay for exchange listing fees, etc. (They’ve already added an extra dev & an extra marketing team member, just this week, and are already hiring right now for another dev position. So, if you are a talented dev, feel free to apply!)
 
9) They have applied for Binance today. Although this does NOT mean it is guaranteed, at all, it’s good to see them applying to a variety of exchanges. It is currently only available on cryptopia and is skyrocketing. Getting added to Binance, Bittrex and the likes would make it explode in a ridiculous way.
 
10) Point number 10 will be a little off topic, to put us in context for point #11. Personally, I like to contribute feedback to projects i truely believe in. One example I came up with was a cool idea for COSS and I let Rune (COSS founder) know about it. Basically, when COSS will get FIAT trading, it is impossible for people to get USD and EUR “fee split” from holding COSS, as USD and EUR are not compatible with the DAO, which is an Ethereum Smart Contract.
 
My way around this was to create a “COSSusd and a COSSeur”, basically an ERC20 token that’s automatically created/destroyed as FIAT is deposited/withdrawn from the exchange. People sending fiat over to COSS would basically be credited with the “COSSusd or COSSeur”, trade with it, and then when they want to withdraw they would exchange their ERC20 for FIAT and withdraw it via wire transfer. The whole thing would be smart-contract powered and transparent so there is always the same number of COSSusd and Real USD on COSS.
 
Basically, this would result in COSS holders receiving “fiat dividends” as well, and not only “crypto dividends”. Rune is currently in the process of getting legal opinion on this idea as he is an adamant believer in compliance and wants to do everything by the Book.
 
11) Well, for Phore, I’ve also contributed a few ideas to attempt to make the marketplace go viral. Viral as in mainstream viral, not only viral in the crypto-space. The devs, advisors, marketing team, advisors and even the community were all very impressed and took notes of everything. Now I cannot comment on what will and what won’t be implemented, but overall my feedback was received in an extremely positive manner. Here goes:
 
To get the mainstream we need something like: https://www.reddit.com/vertcoin/comments/7ixkbf/vertbase_a_vertcoin_to_usd_exchange/
 
Basically an easy gateway that's only fiat > phore. Coded in a way that when you purchase with fiat it automatically sends it to your wallet (and obviously we'd need to have a phore mobile wallet app).
 
This is how Phore will go mainstream, no way around it, unless we wanna wait 10+ years for every crypto "newbies" coming in to actually go through the lengthy process of learning about crypto, how they work, familiarize themselves, etc. So many newbies flooding in, we definitely need easy one-click fiat > phore solution.
 
Plus it would be super easy for me or phore marketing team (or both, working together) to put up a small nice and concise "press release kit" and send it out to all the major media outlets (all the big blogs, bloomberg, yahoo finance, lifestyle blogs for the libertarian / marijuana users / all the people that are into the whole “freedom thing” as well as all media outlets targeted to the 18-30 crowd).
 
Facebook advertising campaigns (targeting 18-35 age range, people interested in crypto, people interested in "online commerce", etc etc.) as well as google advertising campaigns (people search amazon or ebay, and they find our sponsored paid ad on top saying "thinking of trying amazon? Check out the phore marketplace, it's cheaper, blockchain-powered and 100% decentralized".
 
*Instagram campaigns as well, lots of the 16-30 crowd there. Instagram, google, Facebook and Reddit campaigns and any other viable channels. We can do all these things AND succeed at them quite easily, all we need is 1) an intuitive marketplace, which the devs are busting their asses off to achieve and we KNOW it'll be phenomenal, and 2) a fiat > phore gateway integrated. That second point will make or break it in terms of mainstream adoption, hence why it's indispensable to have it before we tackle "mainstream marketing" via FB, IG, Google, Reddit, Twitter, Blogs & Other Media outlets.
 
Ideally the fiat > phore gateway would be on the website itself, so people get credited their phore directly on their marketplace account. With a mobile wallet being a nice add-on of course so they can keep the extra phore in there when not in use, and 1-click transfer from marketplace to mobile wallet and vice versa, "a la paypal/dash evolution.
 
TL;DR for the lazy: Masternodes + PoS // Self-sufficient project due to the “treasury fund” // Stellar team who has ALREADY DONE THIS before // Currently underserved (cryptopia only) // Team applied to exchanges including Binance // Segwit + Smart Contracts + Strong privacy features // Decentralized Marketplace being beta tested as we speak and launching Q1 2018 // Strong incentive to hold as both Masternodes AND stakers dry up the supply for staking purposes, which creates a positive feedback loop (coins get bought, price goes up making the “staking & MN rewards go up”, making more people want a MN or Stake, more people buy, price rises again, “interests” earned go up, rinse and repeat in an endless loop until equilibrium is reached).
 
Currently, a masternode generates roughly 120phweek. Calculate Phore’s current price multiplied by 120 and you’ll get a pretty solid estimate of the weekly revenue generated from a Masternode.
 
Lastly, here’s a cool pic comparing Phore to other privacy coins, for you visual folks: https://i.imgur.com/ZVVEqyH.jpg
 
As well as a cool short video from one of the winners of the community video contest: https://www.youtube.com/watch?v=P4veIgQmmBs
 
Well, that’s it for now folks! As usual, not investment advice, and always do your own research before coming to conclusions. I am just a random internet stranger after all.
 
Cheers! :)
submitted by globetrotter_s14 to CryptoCurrency [link] [comments]

[H] Interac e-transfer, Paypal, Crypto [W] Amazon GC Can

Looking for Amazon.ca discount e-gift cards. Please include in message your feedback references and price.

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[H] Interac e-transfer, Paypal, Crypto [W] Amazon.ca GC Canada

Looking for Amazon.ca discount e-gift cards. Please include in message your feedback references and price.

Interac e-TransferPaypal 'friends and family'Paypal 'goods and services' (fee calculator)TangerineBitcoin/Ethereum (through Shakepay)

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[H] Interac e-transfer, Paypal, Crypto [W] Amazon.ca GC Canada

Looking for Amazon.ca discount e-gift cards. Please include in message your feedback references and price.

Interac e-TransferPaypal 'friends and family'Paypal 'goods and services' (fee calculator)TangerineBitcoin/Ethereum (through Shakepay)

eBay feedback | RedFlagDeals | Heatware| GCXRep | GCTRep
submitted by tkens to GCtrade [link] [comments]

21% attack possible against BIP100?

If I interpret BIP100 correctly, the top and bottom 20% of votes are discarded, and the minimum is chosen.
Doesn't this mean that a miner with 21% of the hashing power can drop the block size to the minimum that can be specified by the votes, i.e. 1B? If the block size is calculated on entire blocks, wouldn't this permanently destroy Bitcoin unless recovered with a hard fork?
Now, of course, one could argue that a miner would not want to do that since it would destroy the value of his mining equipment, but I think that's a weak argument. A year worth of Bitcoin mining is worth
25 BTC/block * 6 blocks/h * 24*365 h/year * 230 USD/BTC 
which is roughly $300 million. eBay bought PayPal for five times this amount in 2002, so this is not an unrealistically large amount of money. If you can't amortize your equipment over more than a year, the price of mining will surely be higher than that, but not that much higher, I suspect (since miners do become obsolete quite fast anyways) - and besides that, the mining still pays for itself, at least before the attack becomes obvious, if you sell the coins immediately.
Assuming a block size limit of 1 MB, and a voting cycle of 3 months (the BIP doesn't seem to specify it, but it can be implied from the initial voting cycle), 1 year of mining would "only" allow you to drop the block size four times, e.g. from 1 MB to 500 KB, 250 KB, 125 KB, and finally 62.5 KB. That wouldn't irreversibly destroy Bitcoin on a technical level, but probably make it unaffordable to transact on it and destroy it on an economic level.
Did I miss something, or should we consider some changes to BIP100 to prevent this (e.g. using the median instead of the 20th percentile)?
Note: I'm in support of a block size increase, be it through BIP100, BIP101, or otherwise. My aim is to help fix an issue if one exists, understand why if it isn't an issue, but not to delay or prevent the implementation of one of these BIPs.
Edit: Possible solution here - a majority of miners can always declare a certain size unacceptable and start treating all blocks that vote beyond the arbitrarily chosen limits as invalid (soft fork).
submitted by aaaaaaaarrrrrgh to Bitcoin [link] [comments]

The first reddit outtake from Digital Gold: newly unearthed emails from Satoshi in 2009 about what it would take for Bitcoin to catch on

This is a bit of an experiment: the first reddit outtake from Digital Gold, the story of Bitcoin, which I’m releasing with HarperCollins on May 19.
In the run up to the book’s release, I’m seeing how it works to post exclusive material to bitcoin — stuff that ended up on the cutting room floor but that should be fascinating for people steeped in Bitcoinia. I will also be putting up fun facts from the book on my Facebook page and Twitter.
This email exchange from 2009 occurred eight months after Bitcoin was initially released, early in the story of Digital Gold. The Finnish college student Martti Malmi was one of the few people helping Satoshi Nakamoto to keep the system up and running. Bitcoins themselves were worth essentially nothing at the time. The lack of interest kicked off this conversation in August 2009 about what Bitcoin might need to grow. Thanks to Martti for sharing this, and a lot of other stuff about those early days.
Satoshi: It would help if there was something for people to use it for. We need an application to bootstrap it. Any ideas?
Martti: I've been thinking about a currency exchange service that sells and buys bitcoins for euros and other currencies. Direct exchangeability to an existing currency would give bitcoin the best possible initial liquidity and thus the best adoptability for new users. Everyone accepts payment in coins that are easily exchangeable for common money, but not everyone accepts payment in coins that are only guaranteed to buy a specific kind of a product.
Satoshi: That would be more powerful if there was also some narrow product market to use it for. Some virtual currencies like Tencent's Q coin have made headway with virtual goods. It would be sweet if there was some way to horn in on a market like that as the official virtual currency gets clamped down on with limitations. Not saying it can't work without something, but a ready specific transaction need that it fills would increase the certainty of success.
Martti: At its simplest this exchange service could be a website where traders, who can be individual persons, can post their rates, and random users can leave trade requests. Some kind of an average rate estimate could be shown on the site. Small-scale trading by individuals would be outside legal hassle in most countries, and putting all the eggs in the same basket would be avoided.
Satoshi: Basically like an eBay site with user reviews to try to establish which sellers can be trusted. The escrow feature will help but not solve everything. It would be far more work to set up such a site than just to set up a single exchange site of your own, and there won't be enough users to make it go until later. I'm thinking it wouldn't make sense to make an eBay type site until later.
Martti: Another idea, which could be additional to the previous one, would be an automated exchange service. The service would automatically calculate the exchange rate and perform the transactions. This would be nicer to the user: completion of the transaction request would be certain and instantaneous. Making this service might actually be quite easy if there was a command line interface to Bitcoin: just take any web application framework and use PayPal back-end integration to automatically send euros when Bitcoins are received, and vice versa. This kind of business would also work great on larger scale if you set up a company and take care of all the bureaucracy needed to practice currency exchange. (I actually have a registered company that I've used for billing of some IT work, I could use that as a base.)
Satoshi: Even if you had automation, you'd probably want to review orders manually before processing them anyway. It wouldn't be hard to process orders by hand, especially at first. You could always set a minimum order size to keep orders more infrequent.
I’m hoping the community here can help get the word out about Digital Gold. The best way to help is to pre-order the book either on Amazon or on Overstock if you want to pay with Bitcoin.
submitted by nathanielpopper to Bitcoin [link] [comments]

Why $1,000 in 60 days... a PayPal comparison.

PayPal and X.com were started in 1998 and launched in 1999. The merge of the two was in March 2000.
I got my first PayPal account in January of 2000 when a fellow geek sent me $1 to my email address. I got my first bitcoin the same way in February of 2013 via bitcointip.
That is how long it took for this fairly early adopter to adopt each. I say "fairly early adopter" because I am a geek, but I also have blinders for most of the "fads" that happen on the Internet. I just don't like to waste time.
But I am a very early adopter compared to the population at large. I had my first desktop computer in 1978. I had my first Internet shell account in 1995.
PayPal was two years along when I adopted. Bitcoin was a bit older, but had some early setbacks. They were generally at the same phase of adoption though when I got my first account/wallet.
Where was PayPal going? It wanted to take over Internet payments from credit cards and it wanted some part of the market for sending cash between friends (splitting up a meal bill for instance).
PayPal ended up doing pretty well. Just two years after my adoption of PayPal in 2002, eBay purchased PayPal because it was ubiquitous in use on eBay auctions. PayPal now does $145 billion in transactions per year (2012).
People in my life the age of grandparents got their 1st PayPal account in about 2006. From launch to goal (but still growing) was about eight years.
Bitcoin had what I consider to be about a two year setback, so I consider it to be at the point that PayPal was this time in 2000. That was when PayPal created it's viral marketing campaign. Just a couple months ago is when Bitcoin's viral campaign started (bitcointip bot and soon to be twitter, facebook and email).
So that is where we are in the adoption process. However, the end game for Bitcoin is much different (and larger) than PayPal. Bitcoin aims to become a competitive currency.
It is entirely plausible that it will have $1 trillion of the world's economy trading in Bitcoin in six years (at the grandparent adoption time).
It is about 1% of the way to to that goal. There are currently 10,900,000 bitcoins in existence.
1% of one trillion dollars is 10 billion dollars. 10,000,000,000 dollars trying to fit into 10,900,000 bitcoins means that bitcoins are worth $917 right now.
Now maybe you understand why we are parabolic. The market is desperately trying to equalize the exchange rate between the dollar and the bitcoin at a rate of about $917.
The adoption rate is also increasing exponentially so the adoption rate is climbing beyond approximately 1%.
That is what causes the parabolic exponential rise in the price of bitcoin. It will level out once the actual market rate is reached. That is currently somewhere between $500 and $2,000. Then it will continue it's rise to approximately 100 times that value over the next six years as adoption goes from 1% to 100% of the potential market (many grandparents adopting in six years).
The market is being prevented from doing that overnight by flaky exchanges and difficulty of entering those exchanges caused by problems with the governments controlling the existing fiat currency. But those problems just slow down the market's attempt to correct to a $917 current price.
Because of this bottleneck in the market and because the adoption rate is rapidly increasing, the two forces will probably meet somewhere in the middle in the next 60-90 days.
My best calculations are that they would meet at about $2,000 on about June 2nd.
Of course that is based on rather loose numbers and comparing to PayPal growth rates and comparing where we are in relation to PayPal's rise.
It also ignores future events which could includes many positives such as the release and adoption of a way to tip in bitcoin via email or certain large organizations decided to accept Bitcoin. This would show that adoption rate has increased beyond 1%.
It also ignores future negative events such as legal meddling by various governments or certain Bitcoin infrastructure being hacked or having technical issues.
This is not investment advice. I'm not your lawyer, accountant nor investment advisor.
This is just a post on a public forum comparing Bitcoin adoption to PayPal adoption and attempting to explain why the "parabolic" rise isn't something to be worried about. It is just a market correction to the correct price of bitcoin which should be somewhere around $917 currently.
submitted by sufaq to Bitcoin [link] [comments]

Log of AMA @ ark.io/slack with bitbay.market - @dzimbeck (David Zimbeck), @Munti (Bjørn Alsos)

dr10 Let us all welcome team from :bitbay: bitbay.market :bitbay: - @dzimbeck (David zimbeck ) and @Munti (Bjørn Alsos). You can all start asking them questions. I'd ask team from bitbay.market to use @ username to the one they are responding to and I'd like to ask all the community to give them some time to catch up if too many questions in backlog, before asking more so questions don't get lost. Thank you!
dzimbeck Hi
dr10 Hello
Munti Hi
dzimbeck Wow you guys have quite the slack. 7k people
dzimbeck very professional site too, always noticed that
dr10 haha, yeah grew a bit over time
dzimbeck Also a decent domain.
arigard @dzimbeck Man, I remember you from back in the day in Blackcoin
dzimbeck Haha yes that is where I started
dr10 okay guys, start with your questions :wink:
Munti Is there anyone helping us keep track of any questions we might miss because we are busy answering?
dzimbeck But I'm not the dev of Blackcoin
dzimbeck I only wrote Halo into it because I needed an alt
dr10 I have an eye on the chat and people notice when you didnt answer it, dont worry :smile:
dzimbeck and didn't want to start a pump thing
tranzer What is BitBay in few words. Are you anonymous marketplace? (edited)
dzimbeck Unbreakable contracts, Anonymous serverless markets and rolling peg
dzimbeck all of those features are extremely important for decentralization and computer science in general
dzimbeck "Unbreakable contracts" is the non-technical term for "Double deposit escrow"
dzimbeck It works by both parties placing a deposit in a joint account
dzimbeck and if they cheat each other they both lose their funds when the time limit expires
dzimbeck making the contract somewhat unbreakable
dzimbeck regardless of what is agreed to
btcmacroecon what if one cheats the other?
dzimbeck since it's a joint account
btcmacroecon hunt them down?
dzimbeck you need that person to sign off
dzimbeck so they lose money
dzimbeck they can't cheat you
dzimbeck example:
dzimbeck you want to buy a guitar
dzimbeck which costs 100 dollars
dzimbeck so you put up a deposit of 100 and also 100 into the joint account
dzimbeck the seller also puts up 100 to guarantee shipping and their own honesty
dzimbeck when the seller sends the guitar if you steal it
dzimbeck then seller won't sign off on the contract
dzimbeck causing both parties to lose money
dzimbeck (you just paid 200 for a 100 dollar it)
dzimbeck So this forces users to work together
dzimbeck better than E-bay with arbiters
dzimbeck in fact.. I am shocked this isn't the industry standard
tranzer Are there any limits on how much can someone sell or buy item for?
dzimbeck I've been doing this for 4 years since BitHalo started
Munti When you use double deposit escrow, your protection is based upon the fact that no one can gain anything by breaking the deal. That pretty much eliminates scammers as there is no incentive for them.
btcmacroecon what if the seller "says" the other stole the guitar, when in reality it was received, it's jus seller wont sign off on it to be a dick
dzimbeck No limits
dzimbeck and deposits are negotiable (edited)
donze Nice idea
ulyssessyoungo interesting
dzimbeck @btcmacroecon Because the seller will lose money if he does
Munti I actually just bought a property in our marketplace. Got the paperwork in the mail today
donze Your market is active?
dzimbeck Being a dick doesn't profit a dime
donze Or work in progress
dzimbeck It actually costs money to be a dick
dzimbeck which is what we WANT
arigard @dzimbeck is that similar to the two way mad escrow Particl are working on?
ulyssessyoungo I like the sound of that
dzimbeck we want jerks to be broke
dzimbeck we want politicians to be the ones begging for food on the street
ulyssessyoungo do you have any system beyond that
Munti Our marketplace has been operational since early 2015
ulyssessyoungo to see if people honor the contracts?
ulyssessyoungo like user history or something
dzimbeck Oh there is tons of systems in BitBay
little_round Particl took it from bitbay
dzimbeck we actually have a wall of features
ulyssessyoungo I mean like
ulyssessyoungo say a guy has a history of blowing up contracts
dzimbeck http://bitbay.market/wall
ulyssessyoungo are those people easily identified as bad business?
tranzer Do you have numbers of how many people "were dicks" and how much was already agreed upon in your marketplace (like yearly turnaround)?
dzimbeck Yes
dzimbeck You can see how many contracts their profile has blown up
dzimbeck so you can mathematically calculate what their deposit should be!
dzimbeck It's like the perfect escrow for p2p transactions
ulyssessyoungo that's nice
Munti Actually particl (then shadowcoin) tried to hire David to make the marketplace for them many years ago. When he declined, they tried to revers enginer his code. They failed :slightly_smiling_face:
ulyssessyoungo So like a reputation system?
ulyssessyoungo I always check vendor reputations on alibaba, amazon etc.
arigard @Munti really? Interesting..
dzimbeck And it's been working for 3+ years it was actually the worlds first smart contracts
dzimbeck Yep
btcmacroecon is there a scenario when a seller would lose money if it harmed the buyer, even if seller loses money, adversely affecting the buyer, even if guitar received, to cause buyer to lose money? Or woul buyer come out ahead cause of guitar, or would that mean net loss for buyer in this scenario, despite "seller wouldn't do it cause he loses money assumption"
dzimbeck we have a reputation system
dzimbeck Yes you are right
dzimbeck but consider this @btcmacroecon
shtand Does the seller always match 100% of the value of what they're selling?
dzimbeck The seller does cause buyer to lose
dzimbeck but now they have proof they are blowing up contracts
dzimbeck who would want to work with that seller later?
dzimbeck Also that seller would be asked in future deals for a LARGER deposit
btcmacroecon ok and ebay has good marketplace for reputation.
dzimbeck meaning being a jerk is progressive;y cost inhibitive
dzimbeck And this reputation system there is no way to lie about it
Munti @dzimbeck I just noticed we both forget to use @ to make it clear who we are answering
dzimbeck because there is cryptographic proof you blew up the funds
btcmacroecon ok good to wait for established track record
dzimbeck I will use the @ more thanks
dzimbeck @shtand Not always
ulyssessyoungo eBay is good with the reputation system but not so much the arbitration
ulyssessyoungo so that makes me interested in alternatives
dzimbeck matching 1:1 is a great way to deal with strangers you don't trust
dzimbeck But a great seller might only put up 10%
ulyssessyoungo i've been screwed selling some high ticket items on ebay before, not terribly so but enough to make me wonder what the point of a middleman is if they just side with the buyer in most cases
dzimbeck exactly!!
donze safex will be full anonymous and will give dividends to those who own it, what are the advantages of bitbay other than being ahead in the roadmap?
dzimbeck But guys this isn't just buying and selling
dzimbeck who here has outsourced?
btcmacroecon What about where damage or not represented product as advertised? same thing? comes down to reputation scores?
dzimbeck @donze that would be the rolling peg we will get to that
arigard Does Bitbay have any anon functionality?
dzimbeck @btcmacroecon Realize a seller loses funds for damaged items if blown up. He will be much more motivated to work with buyer than he would be in e-bay
dzimbeck BitBays markets are anon
Munti @ donze If safex is able to pay dividends, they will need to take that money from somewhere. Fees? We have no fees (edited)
dzimbeck because they use Bitmessage
dzimbeck and we don't bloat the blockchain
dzimbeck because Bitmessage is p2p
dzimbeck and no chain is used
shtand what's determining who a 'great seller' is and what % they need to match then?
dzimbeck thus no servers
kimchi ...where does bitbay profit come from?
tranzer How is BitBay team being funded?
dzimbeck sender is hidden because messages are passed around making it hard to find the origin
dzimbeck decoding messages is plausible deniability because nobody knows if you have decryption key
dzimbeck (a market is a shared key)
dzimbeck @shtand A great seller would be someone with tons of contracts that didn't blow up
RQDxRocket joined #trading_altcoins.
arigard What about transactions, are they hidden too?
Munti @kimchi BitBay in itself does not need profit. The holders of the coin will get their profit from higher value because we gain adoption. and we are years ahead in this race, so should have a decent chance to increase price a lot
dzimbeck @kimchi I don't profit much from BitBay. We are mostly self funded
moon joined #trading_altcoins.
ulyssessyoungo Yeah it's not a centralized service so i don't see why it would need "profit" given that it's just a network
btcmacroecon does bitbay have any interest in their service being used with other projects to form a marketplace? any room for collaboration if buyers / sellers can be rounded up for establishing marketplace, reputation, including commodity trading?
ulyssessyoungo BAY is POS right?
tranzer Is BitBay POS or mineable or what consensus algo does it use?
dzimbeck @arigard Transactions aren't anon
dzimbeck but I'm a big ffan of zero knowledge proofs
dzimbeck There is ways to hide the person broadcasting using Bitmessage
dzimbeck but I haven't implemented
dzimbeck I'm a purist so if an anon route is chosen later then it will be on a very high level
arigard Will you be looking to do those kinds of things in the future? Maybe something like Zerocoin etc?
dzimbeck @tranzer POS
kimchi When can I see the beta version?
Munti @kimchi Also, Double deposit escrow ties up a lot of money, so when marketplace becomes really active , that will have tremendous impact on coin supply (reduced supply because of DDE). An average daily turnover on our marketplace of 1k dollars can create demand for as much as 30k-50k dollars worth of Bay (edited)
dzimbeck Maybe a side chain arigard
dzimbeck Since the main chain doesn't need to be anon
dzimbeck also anon would interfere with the rolling peg
dzimbeck Jesus zero proof:heart_eyes:
dzimbeck depending on what i choose for it
donze What is actual year trade volume of bitbay?
Munti @btcmacroecon BitBay is open for working with partners
dzimbeck @ulyssessyoungo yeah profit from escrow is not wise since it eliminates the middle man, we would not want the liability
dzimbeck also I meant to say earlier
dzimbeck these contracts work with employees too
dzimbeck so an employee is forced to honor his/her word
dzimbeck and employer is forced to pay
dzimbeck so no more unreliable outsourcers
Munti @donze Trade volume varies a lot like it does for most coins
dzimbeck It's been over a million a lot
btcmacroecon what do you think about creating a trading floor for commodities, or whatever "product" or "service" say "electronics" or "beer" or "metals"
dzimbeck but then it goes down to 50-500k
dzimbeck We don't fake our volume
dzimbeck :smile:
dzimbeck that is why, this is a very organic project
dzimbeck You see I used to be BitHalo
dzimbeck which was years before Ethereum
dzimbeck and was hired on to the BitBay project, the people who hired me disappeared
dzimbeck so the community and myself took it over
dzimbeck making it pretty organic
ulyssessyoungo I have been in your Slack for some time, i can vouch that you guys seem to be one of the more transparent teams.
Munti @btcmacroecon We already kind of have a trading floor for commodities. We have a fully working marketplace. In one of the comming updates we will also add templates for auctions.
dzimbeck BitHalo is still active but it's worth pointing out that all new templates and features will be withheld from BitHalo to give BitBay maximum impact
Bitbay1 uploaded this image: m2.jpg 1 Comment
btcmacroecon i like the concept and not of ebay as a seller given their fees, or as a buyer with paypal.
ulyssessyoungo lol those boots
dzimbeck Ebays biggest problem is scam buyers
dzimbeck no way to stop it
dzimbeck In our platform that is not going to happen
dzimbeck And let me stress something else
dzimbeck This is Bitcoin
dzimbeck which is anonymous
dzimbeck so scams are more prevalent
dzimbeck which is why it shocks me
dzimbeck that this isn't the industry standard for escrow
btcmacroecon but the man is wise
dzimbeck Plus we don't have to deal with arbiters
dzimbeck the analogy is you go to court... would you trust 12 peers and a judge to decide your fate?
dzimbeck I wouldn't
dzimbeck A witness where it's your word against theirs
dzimbeck This is a better system. There is no judge
dzimbeck just perp and victim
btcmacroecon i havent been to court once where the truth was spoken
dzimbeck empowering victims a little bit more
dzimbeck "instant karma"
dzimbeck That is exactly why I made this
btcmacroecon i had proof attorney was lying but judge refused to let me play it as i ha proo
dzimbeck Oh jesus
dzimbeck that sucks
btcmacroecon i was going to hit play in courtroom but she freaked out on the bench said i would not play it in her courtroom!
V01D Would there be any backlash against the name bitbay in the future if a company like eBay felt threatened?
dzimbeck Yeah also realize that losing a deposit makes a victim feel like the person who screwed them paid for it
btcmacroecon protected the liar
dzimbeck I don't think so but we can always rebrand
dzimbeck there is an exchange called BitBay too
dzimbeck timing was almost the same as ours
btcmacroecon 591 price on bay on bittrex
dzimbeck we had an international presence first
dzimbeck As for price
Munti @VO1D I don't see how ebay could do something about that. But then I'm not a lawyer
dzimbeck This IS a trading channel
V01D I see, thank you
dzimbeck we should talk about the rolling peg
btcmacroecon i sold all bay at 860
dzimbeck So when the project started I wasn't the founder
btcmacroecon pissed i could have got 870
dzimbeck so I knew there had to be a way to protect investors in case something bad happened
Munti LOL
dzimbeck So the rolling peg was designed
dzimbeck similar to an economic crawling peg
dzimbeck The way it works is this: we can control the supply of the coin by simply freezing it
dzimbeck so as most coins only inflate
dzimbeck this coin does both
dzimbeck it inflates and deflates
yin :open_mouth:
dzimbeck but it only freezes the coins temporarily to stop dumps on the market
dzimbeck and it does so exactly fairly
codnose It's been a bad 24 hours for lots of alts. It will bounce back @btcmacroecon ;)
dzimbeck coins have memory in this system so each coin knows it's own liquidity
funkedelics proof to back up your claim? Munti Actually particl (then shadowcoin) tried to hire David to make the marketplace for them many years ago. When he declined, they tried to revers enginer his code. They failed :slightly_smiling_face: Posted in #trading_altcoinsToday at 7:09 PM
dzimbeck reddit
btcmacroecon yah i hope to reposition on this coin as we speak
codnose Good few days for bay recently. I'm holding since a while back
dzimbeck there is proof where I fought with veritasBS from ShadowCash
dzimbeck They tried to reverse my code
Bitbay1 Freezing via decentralized voting?
dzimbeck it was famous
funkedelics link?
Munti @funkedelics On reddit as David said. I'm sure we can find a link for you after this session is over
dzimbeck Someone else can find it
dzimbeck @funkedelics
dzimbeck It is on the blackcoin subreddit
btcmacroecon what are you doing to avoid illegal activity, kyc, and silk road activity?
dzimbeck if you wanna look
dzimbeck @btcmacroecon I have a mod key which users subscribe to
dzimbeck which is handed out
dzimbeck so decentralized mod i guess
dzimbeck also users encrypt their IP within their orders
dzimbeck so if for some reason a swat team shows up at my house I just tell them they are free to use it
kimchi What is the return or refund?..
dzimbeck In theory we shouldn't need to deal with silk road type problems
btcmacroecon id say get a fkn warrant, shut the door
dzimbeck since we don't host anything
dzimbeck That too
codnose Rolling peg sounds very interesting. Is there a link here?
dzimbeck But we don't live in a fair world @btcmacroecon
dzimbeck USA arrested a guy in Greece who was a Russian citizen
dzimbeck nonsense
btcmacroecon and those that vote i big corrupt government blame trump
dzimbeck https://bitbay.market/about/pegging/ BitBay Rolling Peg - BitBay Price volatility is cryptocurrency's biggest challenge - BitBay's rolling peg will reduce volatility by dynamically controlling supply. Learn more here.
dzimbeck Never blame Trump
dzimbeck blame military intelligence
dzimbeck and compartmentalization
Munti @codnose our site is going through a little redesign atm, but the info on the rolling peg will be back up soon
btcmacroecon new vorld odor! I blame "globalism"
imyb commented on Bitbay1’s file m2.jpg Is this really what it's going to look like?
dzimbeck :smile:
codnose Great thanks @Munti
Munti LOL, it was back up (edited)
dzimbeck well whatever powerful people do
dzimbeck it's our job to come up with solutions like unbreakable contracts
dzimbeck these contracts work in an anarchy
dzimbeck literally
dzimbeck The rolling peg is meant to allow low cap coins
dzimbeck to thrive
little_round @imyb No, it will be changed
dzimbeck because the control of supply lets us force the price
dzimbeck by voting on supply
yin damn your product sounds awesome! but you need a redesign of your website :smile:
dzimbeck so example
btcmacroecon so you in essence have a dashboard already active.
dzimbeck if a user has 1000 coins at 100% at .10 cents per coin
WeeMan Mike joined #trading_altcoins.
dzimbeck and the network deflates to 50%
dzimbeck he would have 500 coins liquid and 500 frozen
Munti @btcmacroecon What do you mean by dashboard?
dzimbeck he can move the liquid coins as much as he wants
btcmacroecon you have a marketplace or dashboard like ebay has basically?
dzimbeck the frozen coins he can move but with a penalty a one month delay
Munti @btcmacroecon Yes (edited)
dzimbeck which makes a secondary market for trading frozen coins
codnose Like the eBay dashboard right @btcmacroecon ?
dzimbeck at a more speculative value
btcmacroecon you just need to expand on it with volume
Bitbay1 https://www.youtube.com/channel/UC9hEpu8gZMzEcP22rMYX0Iw/videos YouTube BitBay Official BitBay youtube channel
dzimbeck we can assume his liquid coins would be worth about double than before if demand is about the same
btcmacroecon do you offer any affiliate programs to market for that volume?
dzimbeck Good idea
dzimbeck @btcmacroecon Working on that now
dzimbeck We have just started discussions about incentives
dzimbeck @kimchi please elaborate
dzimbeck return or refund on what?
kimchi I bought shoes. But what if a brick comes? There is an image on top that sells shoes.
dzimbeck Then seller would pay 100 dollars
dzimbeck if you blow it up
dzimbeck so negotiate a refund
dzimbeck the seller will most definitely reconsider
dzimbeck since he doesn't want to pay 100 dollars to be a joker
dzimbeck You can cancel contracts
dzimbeck returning all funds
Anoeng joined #trading_altcoins.
dzimbeck upon mutual consent
dzimbeck everything is consent
btcmacroecon does bitbay have the ability to accept payment in a variety of cryptocurrency? I think that's where volume could come in, or a gateway to exchange tokens and buyer / seller can arrive at payment and yet can be worked via bitbay smart contract or escrowing? could that work, is it possible, if not care to explore it?
dzimbeck the way a contract should be
dzimbeck Yes
codnose Ha that's awesome actually. Why would a seller send anything else knowing they'd lose their deposit ?
dzimbeck You can use Ark to pay
dzimbeck Bay is only used as a deposit
dzimbeck you might have to specify the coins you would accept in your contract
ulyssessyoungo nice
ulyssessyoungo i like that
btcmacroecon and what about dogecoin for example?
codnose Yeah that's cool
ulyssessyoungo Definitely adds to the viability of the platform
codnose Whatcoin? Lol
dzimbeck yeah codnose it forces honesty
dzimbeck and the same for employees
Munti @btcmacroecon Also, our platform is very broad. You can use it for almost anything. We already had all kinds of things sold there from pins to property. Many coins have also been sold there. Our market is like an improved localbitcoin. Binary opptions is also you can find on our marketoplace regularly. And I'm sure we havent even scrathced the surface yet. In the future we will have API's so ppl can tailor their own version of our marketplace.
dzimbeck if I hire someone using this system
btcmacroecon ok deposit only, making more sense now
ulyssessyoungo BAY as a currency would certainly take off best after the Rolling Peg
dzimbeck they better do what they say
ulyssessyoungo but in the meantime that's awesome that you can use other coins
dzimbeck I actually used to it motivate myself
Bitbay1 Why not sell Ark for Bay on the market :slightly_smiling_face:
Bitbay1 or Btc
dzimbeck had my friend blow up my money if I didn't do my daily errands
dzimbeck imagine having 10 grand deterrent
dzimbeck :smile:
bivins Greetings
dzimbeck You can trade coins on the market
dzimbeck especially microtrade
codnose You bought some land using this you said @Munti ?
dzimbeck but it is slow
dzimbeck for that I recommend atomic trade
dzimbeck It's not that fast paced trading that traders demand...
dzimbeck but
codnose No worries about losing any money ? I take it it wasn't just a few dollars
dzimbeck Someone did sell IOTA on our platform
dzimbeck and did lots of deals
Bitbay1 yes before IOTA came into the exchanges
Munti @codnose Yes I did. Got the paperwork in the mail today. 5 acres of land in California. (And I live in Norway) (edited)
prasanth can we stake coins in the market client??
Munti Yes
dzimbeck Staking is done using 2 keys
dzimbeck so you can actually stake over LAN too
tranzer Could BitBay somehow bridge with Ark and offer their services to Ark users?
dzimbeck using 2 computers
dzimbeck it's called "cold staking"
dzimbeck no hacking is possible here
dzimbeck ever
dzimbeck you can hide keys in images
btcmacroecon ok i admit failure on setting up CoinURL as I tried to set up online store, to sell some code, my wildlife photography, and rocks and gems I prospect, I'd like to set up BitBay on an Iframe into my site, and capture affiliate biz. Sounds like this is almost possible, and I could sell my jade right through my site, at least offer it up, right?
dzimbeck and have dual passwords and use 2 computers to sign transactions automated
Munti @tranzer We would have to look into that. But I don't see any reason why we could not.
dzimbeck We need a web wallet
dzimbeck that is our biggest challenge
dzimbeck since I made this with a "security first" attitude
dzimbeck being a cryptographer (edited)
dzimbeck I forgot the reason to make everything web based
Munti @btcmacroecon We are not quite there yet, but yes, that's where we're going
dzimbeck Didn't want to sacrifice security
dzimbeck now I realize there is a need for web based platforms
codnose I follow you on twitter and saw that mentioned the other day. It's coming soon? @dzimbeck
dzimbeck that sacrifice a little security for speed and ease of use in phones
dzimbeck A web wallet?
codnose Yeah
dzimbeck Yeah well we will have a basic web wallet very soon
dzimbeck its actually a very nice one (edited)
dzimbeck But I was referring to a market wallet
dzimbeck one with the full contract implementation
dzimbeck we hope to do that after the peg is successful
Munti Keep an eye on our next weekly update (sunday) for roadmap for the rest of this year. You will get details there
dzimbeck since it's more important to deliver on what I promise
dzimbeck than to make up new features
dzimbeck aka "scope creep" a programmers worst enemy
mergatroid Hello
dzimbeck Hi
mergatroid Please comment on recent news around SEC delistings on bittrex - what steps are you taking to communicate with user base as to whether your a security and what you plan to do if you are classified as such
dzimbeck The rolling peg is the priority
dzimbeck Since Tether is unreliable
dzimbeck this is a decentralized peg
dzimbeck that isn't fixed at a certain price
dzimbeck so it can "roll" the price up
codnose Sounds like you have a lot of nice things planned :)
dzimbeck so it starts at say 5 cents
dzimbeck and slowly rolls up to 10 cents
dzimbeck over X amount of time
dzimbeck after that we would love to focus on web implementations
dzimbeck however anyone who wants to plug this into their site should contact us, we can set up some API calls for sure
Munti @mergatroid I just became aware of the SEC issue on Bittrex today, and have not had time to study it. But going by the little I did read, it doesn't seem to be a problem for us.
mergatroid Ok - so no plan so far understand
dzimbeck we aren't a security
dzimbeck because we don't pay dividends
mergatroid Thankyou
codnose Just on your website now @dzimbeck @Munti
dr10 OK we are approaching 1 hour mark. If you guys have any questions left, go ahead. Anything bitbay.market team would like to add or tell - feel free to do.
V01D Thanks for your time bitbay team
dzimbeck Thanks for doing this! It was fun. And maybe I have a few questions about Ark later
dzimbeck :slightly_smiling_face:
codnose Looking good. Thanks for stopping by :)
dzimbeck Any other questions?
dzimbeck Perhaps regarding the peg, contracts or markets?
Boris Is dzimbeck a god?
dzimbeck :smile:
dzimbeck no
dzimbeck I bleed
codnose Haha I'd heard that too
codnose At least in coding terms lol
dr10 Thank you David and Bjørn for taking the time to do this AMA! All the best with the project and you are always welcome to hang around our Slack
Munti If anyone wants more info, you are welcome to our slack http://bitbay.market/wp-login.php?action=slack-invitation
dzimbeck Honestly a little bit of effort is all these things take
dzimbeck Thanks dr10
Munti Thanks for having us. This was fun
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