Is anyone else here troubled by the Bitconnect banner ad on coinmarketcap.com? It's a total ****ing scam and coinmarketcap should know better. Do they not contol who can market on there page? Seeing these complete ****ing scams marketed everywhere is underminding my confidence in crypto.

I bailed on EDG. Huge sell off scared me. Still was able to make like ~10% profit. Would have been more if i was paying attention and noticed the double top at 40k sats. It could easily go much higher but I don't know enough about it or how these low cap alt coins perform to stay long term. Whatever, profit is profit. I'm guessing this is just a sweep of "dumps" from the pump and dump. I kind of expected the dump to come later, like on Monday. Maybe the REAL pump and dump will happen between now and then. These low cap alts are def high risk high reward, and maybe not for me. At least not right now. Either way, a good learning experience for me on these low-cap alt coins and I will continue to watch the chart to see how high it goes between now and Monday, which was my original target sell-off date, as painful as it might be!

Yeah the problem is they won't open their books to show they actually hold the USD for all the tethers they've issued

Finex has already opened their books with a known auditor. becaus they took on all these new shareholders, they agreed to an audit.


My understanding is that this audit is ongoing and it will cover tether because ifinex is a major shareholder/operator of tether.

If I send them USD for tether I want to know what bank my money is in. They refuse to answer that. Unless that's changed I don't care if X company says the audit is ok. If they are complying with banking laws, there's no reason they can't name the bank(s). That kind of information is part of an audit and should be publicly known

Sold edg as well. Not trusting it atm with huge sell orders. Little over half an eth profit though.

Ill keep an eye on it though.

Hmm these sell walls doesnt mean much in hindsight if its way overpriced ofcourse... Lol. Im afraid i made a mistake in selling them.

In a sense, yes.

Permissioned. Immutable. More secure. And allows us to run a utility token in our ecosystem.

We've formally begun talking about our relationship with Albertsons. We launched in Houston first. There are still a lot of people without cars and minimal pharmacies operational.

http://ourtribune.com/hurricane-harv...criptions.html

Money cannot be deposited into Tether, they do not have banking. Why would a real bank or auditor touch them? They admitted the obvious, that they would play some cat and mouse games with banks to move smaller amounts of money. Now the supply has increased a few hundred million, where did this come from? Why would banks ever start dealing with them? If the never get banking back then Tethers can never be cashed in.

Who is buying Tethers? Who is creating shell companies and sneaking it past banks to trickle into Taiwan, just to buy Tether tokens. All for the purpose of sending them to an exchange to loan out or buy BTC with.

Tethers are just a blockcahin asset they created and control and can issue at will. There is no built in connection between it and actual USD deposits.

http://omnichest.info/lookupadd.aspx...o5LsPTW1zBTwXL

The audit has been on its way for months. Why have they been unable to produce it?
Who is in charge of Bitfinex, who owns Tether? How legal is it to issue your own currency purported to be backed by USD?

Bitfinex, Bittrex, Poloniex all cannot give you USD.
Chinese exchanges are being shut off CNY.

Regulatory scrutiny will only increase in the future.

You guys spend way too much time on twitter.

If you spent a fraction of the time you read fud on twitter and spent it on irc, message boards, and chat groups you'd make a lot more money.

Ppl spreading fud on twitter are broke and trade dust.

Not sure if this was in response to my post?

If so where can I find the answers to these questions? I am not here trying to spread rumors or play gotcha, I would love to be proved wrong on this so I don't make big mistake.

How do you propose trading your thesis that tether is a fraud

Short on Kraken?

edit:

I feel like this situation is very simple so maybe I am missing something. Here are the main issues I would like more info on:

Tether must be backed 1:1 to function, what proof of the USD is there?
If there is no proof, then what evidence suggests 300 million USD has gone to Tether to cover recent new issues?
If they cannot pay out because they are cut off from legitimate banking, how can they repay even if the have reserves?

So the best investing thesis you can come up with in crypto right now is to short something that has LIFETIME traded between

0.9-1$ ?

when there is public information out there that


1) finex is under an audit by a nationally recognized accounting firm
2) finex has stated that all tether assets are also in this audit
3) finex has stated that the audit is ongoing and will be completed and released to new share holders


^ all the information is publicly available if you got off twitter.


and the best you can come up with is to short tether? You'd have better luck asking a monkey to pick a ****coin and point up or down.

I really like seeing how other people view this, so thanks for your ideas.

Shorting USDT on Kraken is a valid idea. Kraken margin costs 5% in fees for 12 weeks though which is not a great risk/reward imo. The market is very thinly traded as well by which I mean you could make a correct call and still get shafted by volatility in a market panic.

Given Kraken is the only USDT/fiat off ramp, $400m of USDT is going to get pumped into BTC hard if the **** hits the fan. I would go long on a selection of the most liquid BTC / coin ratios. That play could be automated as a 'set-and-forget' looking for a USDT price fall as a trigger.

https://www.youtube.com/watch?v=Jetfhhkg_YU

Mission

Nexus seeks to Free humankind from centralized systems. Being decentralized is not merely enough. We must decentralize the decentralization. Using software and hardware, Nexus seeks to build the foundation for the most decentralized system to ever be developed: Nexus Earth. This network will empower everyone from the first world to the third world. Not everyone has money, but everyone has time. The time has come to decentralize everything. The foundations of cryptocurrency should be built upon decentralized principles. Nexus seeks to fulfill this mission.

Nexus will provide the framework to enhance the freedom, self-sufficiency, and creativity of everyone in the world. A fully decentralized global network will allow people to transfer value, data and services to one another in a truly peer-to-peer fashion. A digital currency called Nexus (based on Satoshi Nakamoto’s Bitcoin) has been created to facilitate this system. However, no system which relied on traditional ground based telecommunications networks is truly decentralized. For this we look to the stars. The Nexus blockchain will be secured in space. Cube satellites in low earth orbit will provide network access worldwide at acceptable latencies. Coupled with hardware devices on the ground, a global decentralized mesh network will be born. People will launch new peer-to-peer services on the network without the approval from a centralized authority. This network must be built on a strong foundation. Over the past two years, many security enhancements and innovations have been developed and proven on the Nexus blockchain. These include 571-bit privacy keys for increased quantum attack resistance, multiple mining/staking channels, dynamic difficulty adjustment, 1024 bit SHA3 based block hashes, unified time, trust keys, and more. Nexus is more than technology. Nexus is the connection of people, economies, philosophies, ideas, computers and resources that will free mankind. Welcome to Nexus!

Nexus Conference
September 21st-23rd 2017

Your Connection To The Future - Of Blockchain
Colin Cantrell - Nexus Creator
Roger Ver - Bitcoin Legend
Your Connection To The Future - Of Finance
Dave North - CEO of Sedgwick (The world’s largest insurance service provider)
Peter Schiff - CNBC contributor
Doug Casey - Founder Casey research
Jeff Berwick - Founder of The Dollar Vigilante
Flip Filipowski - Futurist / Tech Entrepreneur
G Edward Griffin - Writer of “The Creature from Jekyll Island”
Dr. Patrick M. Byrne - Founder of Overstock.com
Your Connection To The Future - Of Politics
Ron Paul - Former Congressman & Presidential Candidate
Jesse Ventura - Former Governor & TV Personality
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Your Connection To The Future - Of Space
Jim Cantrell - CEO Vector Space Systems
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Max Keiser - Host of the Keiser Report on RT
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$MTL going to be its own economy in not too long. I cant say enough good things about it.

Any proof its a scam? Nobody has proof. Not a single person. They may put on red flags, but proof? nope. So far nobody is scammed by them. As a matter a fact others have scammed bitconnect when there was a bug on their site.

Hey guys, just started into crypto.

Was wondering if you guys had any thoughts/details on IOTA atm?

IOTA is brilliantly conceived, unique, and may be ahead of its time. Its ledger system ( Tangle not blockchain) may actually be better than blockchain technology. No mining and no fees and no scalability issues. Its amazing. On the other hand, who will use it? Which major companies even know about it or know how to use it? Its marketing effort and adoption has been slow. It doesn't have a Vitaly to promote it. Its only available on a few exchanges in the world. Will it ever be worth more than $1 or will it go to zero? Who knows?

it has no use case

The consensus algorith is flawed. https://bitcointalk.org/index.php?topic=1799665.0;all

Quote from the thread:
"Ok, no problem, that's your choice.

For other readers who may be interested in ELI5 explanation of the problem:

*) Network hashrate is the overall power of the network - in bitcoin, this is the computing power needed to generate a block.
*) Bitcoin employs a mining reward which creates a competition between miners to produce a block and claim their reward for doing so. Slower miners lose out to faster miners, but they still participate in the competition to produce a block because they stand a chance of winning occasionally.
*) This mining subsidy provides a positive incentive to miners to play by the rules, and encourages them not try to double spending, because they might as well claim the mining reward instead of trying to double spend which is often much more difficult than producing a single block.
*) The mining subsidy also encourages all miners to participate in the mining process, which gives an overall metric for total network hashing power, which you can then use to give an estimate of when it is safe to accept a transaction of a given size, as confirmed, because (on average), the block reward is equal to the electricity cost of mining that block. That means that when your transaction has been buried under enough blocks that the mining subsidy equals the transactions size, it is more or less safe to accept that transaction as confirmed.

Now, imagine the situation with no mining reward.

*) Instead of participating in a competition to win the block reward, miners have no positive incentive to participate anymore. They now are left with the negative incentive to try and double spend.
*) Since these miners are not contributing their hashing power to the network anymore, the overall hashrate of the network in unmeasurable, since these miners are quite likely to leave their ASICs in sleep mode until they want to double spend
*) With the network hash rate unmeasurable, there is no way to put an estimate on when it is safe to accept a transaction as confirmed.

When there is no way to estimate when it is safe to accept a transaction as confirmed, that currency is now useless because any transaction can potentially be reversed.

This is why both byteball and iota use trusted third parties to secure the network, but at that point, you might as well be using VISA.


edit: ELI4 - You work at a bank dealing with money every day. You get paid for your job. Do you steal the money you work with? Now imagine if you didn't get paid. Are you more tempted to steal money? Now imagine if you could never get caught and everything was anonymous.

Cheers, Paul."

https://www.engadget.com/2017/09/26/...inney-solarin/

https://www.coindesk.com/regulated-i...token-trading/