Crypto Basic Podcast: Teaching You The Basics of Bitcoin and the World of Cryptocurrency. CryptoBasic
The CryptoBasic Podcast is an educational, honest, and entertaining exploration of the fascinating world of cryptocurrencies. Join hosts Brent Philbin, Karim Baruque, and Adam "Roothlus" Levy as they explore concepts and cryptos such as Bitcoin, NEO, Ethereum, Litecoin, Blockchain, Cardano and much more. How does Bitcoin actually work? Should I use Coinbase or Bittrex? What in the world is an ICO? Listen to our 101 episodes on each topic for an in-depth, beginner friendly discussion to find out. Join this trio of professional poker players and lifelong friends as they learn, teach, and joke their way into serious crypto knowledge.
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Episode 211 - China goes bullish on blockchain, Uber Money is a thing, and.. happy birthday Bitcoin!
11/02/2019
Episode 211 - China goes bullish on blockchain, Uber Money is a thing, and.. happy birthday Bitcoin!
Come one, come all, to this week's Flagship Friday, where we cover the week's crypto news and happenings! Today we're taking a look at Uber getting into the crypto world with Uber Money, we're taking a look at China that, in true China fashion, goes bullish on blockchain in the most authoritarian, orwellian way possible, and finally - we're celebrating! Big Daddy Bitcoin is 11 years old as of today! All of the above and more on today's episode! Dive into the cryptoverse with us on this week's edition of Flagship Friday! Rapid Fire Volkswagen and the United Nations are on its advisory board in hopes that CERA can be a universal standard for the raw materials industry. On Monday, October 28th Uber launched it's own payments service called Uber Money initially aimed towards its 4 mill drivers. Can store money, track transaction history and make electronic payments. One cool feature is the overdraft protection of up to $100. So if a driver is strapped for cash, they can fill up their tank with gas so they can go out and work. No cryptocurrency element. Crypto can be murky with the law, and expensive and slow if transferring small amounts. Financial firms have actually been improving their own tech to make mobile payments faster and cheaper. Uber could one day offer a bank account to consumers. “We wanted to help everybody understand that there’s a new part of Uber that’s focused on financial services, and that has a mission of giving people access to the type of financial services they were excluded from,” Uber Money head Peter Hazlehurst told CNBC. Industry observers see this as a way to bind users to their platform to keep them engaged—a customer retention play as well. () Bitcoin white paper was published Oct 31 2008 (all we know about author is it wasn't CW) coinbase blog post examining 11 indicators btc is gaining momentum, creating econ opportunity, increasing global utility Comparisons with other tech Email (1972) - Took till 1997 to surpass 10m people TV (1927) - By the end of the 1940s only 2% of families had one BTC (2008) - 27m in US by 2019, 9% Google Trends Interest has been spreading across the world, with countries taking turns on the top spot for highest relative interest 2009, Austria had the highest relative interest, followed by Kazakhstan (2010), Estonia (2011), Finland (2012), Ghana (2015), Nigeria (2016), and South Africa (2017). In 2018 more americans typed in Bitcoin than royal wedding or election results Over 55,000 computers in 96 countries running full nodes Buying $10/mo in btn over past 4 years (Oct 2015) would have a yield 595% $480 to 3337...sponsored by coinbase =) Demand for Bitcoin in economically volatile regions reached record highs in 2019 Local Bitcoins exchange volume in Venezuela, Argentina, & HK spiking Okay so we all know Bitcoin is the most secure blockchain Now at 108m terahashes per second "Bitcoin is far and away the largest computational network ever created," Source is legit but had to check this claim Multilple articles from 2013, 2015 talking about how many times more powerful than 500 supercomputers bitcoin was There's a lot of issue with supply chain, more than I ever knew. Being launched by Wong Supermarket, which is apparently Chilean, you'll be able to scan your meat via an app, and see where its been. There's a company behind this is called , which is a US based supply chain company with founders from Deloitte. They're actually developing on the Quorum chain, which is the JP Morgan permissioned chain. “You have a large group of consumers that want to buy sustainability, and want to buy transparent products from brands. But they don’t do it today – they don’t trust what the brands are saying. There’s a $1 trillion market sitting there for companies and brands to take if they can speak the same language as those consumers do.” This would even track the animal welfare and everything. If they say "We have vaccinated every animal" it would then need to be confirmed by the correct observing party. Apparently Wong is kinda like a Whole Foods, but it was bought by a conglomorate called Cencosud and people were pissed. Bitmain is a huge mining firm, one of the biggest in existence. They've ousted the co-founder and executive director - his name is Micree Ketuan Zhan. Coindesk got the following from an anonymous source for an internal E-mail from Jihan Wu- “Bitmain’s co-founder, chairman, legal representative and executive director Jihan Wu has decided to dismiss all roles of Ketuan Zhan, effective immediately. Any Bitmain staff shall no longer take any direction from Zhan, or participate in any meeting organized by Zhan. Bitmain may, based on the situation, consider terminating employment contracts of those who violate this note.” There isn't any information on WHY. He actually owned more shares than the more well known Jihan Wu . There was an all hands meeting on Tuesday to discuss this, and CoinDesk was even able to get some info from that. Wu had stepped away from Bitmain in December of 2018 as an active day to day participant, but obviously is back at it. Apparently the two had a massive falling out, and it resulted in what Wu described as a power struggle in the meeting, and they had been since 2015. The major layoffs in 2018 were a key point of contention, Zhan didn't want to fire anyone, and Wu didn't see the company surviving if they didn't, so Zhan tried to seize control as the sole CEO at that time . So he starts throwin shade, saying Zhan was insecure and he let him have his chainman role etc, but that this resulted in pulled credit lines, and calling up of credit. If Bitcoin hadn't bounced back, maybe there was no saving the company after that. Bitmain has had declining hashrate share and it continues to do so. Apparently Zhan wanted to move into AI, which isn't really their niche and wanted to raise funds and dedicate current funds to do it. I guess this was the big divide. He's also banned from the offices. Maybe this will hurr their chances at their planned US IPO? Crypto Around the World Business Insider article Xi said last week that China should accelerate the development of blockchain technology called for greater research and investment Quoted saying it will play an important role in next round of tech innovation and industrial transformation And that China wanted to gain an edge over other major countries in R&D and in a wider goal, demanded deep integration with other information technologies , including AI, big data, & IOT. Official at Central Bank urging commercial banks to '' So of course that caused a market boom “Blockchain’s future is here but we must remain rational, The rise of blockchain technology was accompanied by that of cryptocurrencies, but innovation in blockchain technology does not mean we should speculate in virtual currencies.” Starting Nov 1st Croatia's NGO is moving it's governance onto the Ethereum blockchain in the form of a DAO using Aragon. UBIK is a Croatian blockchain and cryptocurrency association. If you belong to it you will have the right to 10 reputation tokens Board members will get 100 tokens UBIK executed a blockchain vote earlier in the year but it was using QR codes in a temporary wallet not on Ethereum. They were trying to keep it simple for non-technical users. UBIK requires a proper blockchain wallet to use like Metamask or Frame. Less straightforward so there might be some onboarding for the less savvy users. DAO will be used to group decisions and will be first blockchain in the world to do such a thing in an official capacity. DAO will also keep the funds in DeFi earning 5-10% annually to offset fees for the org. Exit Please join the conversation in the Discord. We're in there all the time. Rate us on iTunes. Follow CryptoBasicBrent on Reddit. We are not Financial advisers.
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Episode 210 - Google's quantum supremacy, Zuckerberg testifies, and the CryptoBasic community gets attacked.
10/26/2019
Episode 210 - Google's quantum supremacy, Zuckerberg testifies, and the CryptoBasic community gets attacked.
Welcome to another Flagship Friday, where we discuss the most important happenings in the crypto community weekly! Today we're talking a lot about what the big ol' giants have been up to, with Google's quantum computer running big ol' data pretty quickly, and Facebook's Mark Zuckerberg doing a big ol' testimony for like, what, the billionth time? Also, we're taking a look at a... questionable feature of the Lightning Network and talking about something very unfortunate that happened to the CryptoBasic community last week - we got attacked by scammers. Dive into the cryptoverse with us on this week's Flagship Friday. Rapid Fire [Ripple Adds Four Members to Regulatory Team, Joins Blockchain Association](Ripple Adds Four Members to Regulatory Team, Joins Blockchain Association) Including Treasury Department experience, and CFTC Senior Advisors Yes, maybe in the short term a lot of the volume is shorting BTC but that doesn't really matter. What matters is the institutional money is starting to flow in. Wednesday 640 traded contracts (new ATH). Day before was 85 lol. Previous record was 224. Institutional investors made long positions of over 1k BTC in October, up from 500 BTC the previous month. Bakkt To Launch Options Trading in December Dec 9th launch and fully regulated and approved by its backer, The Intercontinental Exchange and the CFTC, the governing agency on derivatives. Hopes to bring trust and utility to digital assets Boris Johnson has pledged to deliver Brexit by October 31st. $10k has been put on Brexit not happening by the end of the month on the Augur platform. Only 5% on it actually happening. Augur is a decentralized prediction market that depends on "wisdow of crowds" and has been pretty on point thus far.. Predicted Dems taking the house, price of BTC above 4k October 22nd, Justin Trudeau winning Canada reelection, etc. Binance Academy posted an article explaining what an atomic swap is. Basically it allows two different cryptocurrencies to be exchanged quickly. You can trade them directly from your personal wallets. Essentially peer to peer trades across different blockchains. This allows for users more security by not having to put it on a third party exchange and also cuts one step out for most alt coins by not having to convert it into one of the bigger coins like BTC or Eth to then convert it to the coin you wanted initially. () -K House Financial services committee Now positioning Libra as a reaction to China's plan to release a similar cryptocurrency Before it was about it being international, here playing to US lawmakers "Libra will be backed mostly by dollars and I believe it will extend America’s financial leadership,” Apparently 4 lawmakers had sent letters to members asking not to participate (maybe why we saw mass exodus) FB also distinguished LIbra from their wallet, and clarified "Facebook’s intention not to sell data about Calibra wallet users to third parties" "if america doesnt lead on this others will" Friday, October 19, three new bills were introduced aimed at undermining Facebook’s efforts Keeping Big Tech Out of Finance Act “Stablecoins are Securities” bill (would affect a ton of exchanges) “To Prohibit The Listing of Certain Securities,” appears to seek to prevent stablecoins like libra from entering the capital markets space - B So this is pretty complicated, but user ZipoTim from reddit posted that he has lost 4 BTC from the lightning network. So this is super complicated, but basically here's how this works. If you ever upload an old version of a transaction, the "penalty" is to let the other user keep all of the funds from the lightning channel. This is to prevent double spend on the lightning network, since there's no consensus lightning algorithm, there is an exploit where you could send a transaction through the LN, and then send an old version of your LN Node, but with a force close transaction listed before the sent amount gets processed. For this reason, LN operators are told not to keep backups, but that's completely counter-intuitive to sys admin as I understand it. The user claims there was a power outage so their timestamp was affected? So I guess there's still a real possibility he was trying to do something shady and it backfired. He was using the LN to run some sort of online Gambling business. Apparently he sold his apartment for 4 BTC, and lives in Bulgaria. Apparently some of the money didn't belong to him. This seems like there may have actually been malicious intent here to me - but at the same time it seems really easy to lose a ton accidentally. r/Bitcoin labeled the post with reckless flair. Classy. - K So one critique of Googles "quantum supremacy" is that its not very useful yet What is Quantum supremacy? - the potential ability of devices to solve problems that classical computers practically cannot. to perform a single calculation that no conventional computer, even the biggest supercomputer, can perform in a reasonable amount of time. What google achieved again was Calculatin whether the output of an rng algorithm was truly random Googles Quantum computer did this in 3m 20sec According to the paper the IBM Summit-3, most powerful commercially-available computer would take about 10,000 years Peak Speed is 200,000 teraflops = 6.3b people, all make a calculation at the same time, every second, for a year = 1 second of Summit-3 Google's research could lead to improvements behind proof-of-stake cyptocurrencies POS entails random selection of nodes to become validators So the obvious question is how to ensure node selection is truly random Even this calculation could add security and piece of mind to tons of clients, like ensuring dice arent loaded They do quote a Mathematician from California Davis saying its overkill but concedes he could be wrong and respects certified randomness as complex Bullish or Bullshit - - A Christian Giancarlo, the former CFTC chair who left in April after a five year term gave CoinDesk an interview earlier this week. Direct quote: “One of the untold stories of the past few years is that the CFTC, the Treasury, the SEC and the [National Economic Council] director at the time, Gary Cohn, believed that the launch of bitcoin futures would have the impact of popping the bitcoin bubble. And it worked.” Futures were announced Dec. 1 2017 on Chicago Mercantile Exchange (CME) and the CBOE Futures Exchange and went live on Dec. 18th 2017. Direct quote: “We saw a bubble building and we thought the best way to address it was to allow the market to interact with it,” Direct quote: “If you do believe it’s a ridiculous price but you don’t own, there’s no way to express that view,” Giancarlo told CoinDesk, adding: “If you don’t have that derivative, then all you’ve got are believers [and] it’s a believers’ market.” Giancarlo believes that permitting bitcoin futures in 2017 helped keep the market free and he believed that it showed the power of markets to bring discipline to prices. ? - K Blog post by John Paul Koning exploring this often referred figure Starts tracing claim back from advertising, some books (particularly from Gold proponents) finally to a guy named Matt Hewitt (since removed) He did do some math counted 176 currencies that are still in circulation, and 599 that aren’t. 27 years is the average lifespan, if you dont count the 176 Also out of the 599 they didnt just explode, mostly deliberately replaced For example Dutch gulder, French franc, and Italian lira were swapped for new monetary unit - Euro. Currency holder were fairly compensated When Kenya, Tanzania, & Uganada separated from East African Currency Board they created new currencies, citizens could exchange EA shillings for new currency THAT'S A SCAM Isaac Austin, former NBA player, who retired in 2004 was a trustee for his own BTC trading company. Managed to get a Ghanaian firm to hand over $11,000 per BTC. $800k was transferred to his account from the firm and has yet to be touched. Claimed he would pay back investments and then some at close of trading. The victim says Austin gave a whole raft of excuses including; that he’d suffered a heart attack, transferred coins to the wrong wallet, was in queues at banks, and that banks were holding the funds. Our Scam - B "Do yo know anyone who is selling ETH or that has it? I left my ledger at the office and am meeting a client, I went on btcpop but they want to charge me 27% to borrow it for an hour till I'm back and that's insane " - Scumbag Scammer . He was able to clone mt 4 digit number on my discord ID and make his name similar, then he cropped my user picture. There were a bunch of red flags that unfortunately didn't end up stopping Tony. The caller ID came up as someone other than me (won't name the name because I suspect it's spoofed). Tony asked for voice verification and the scammer dodged. Said he had 4000 BTC so he didn't need to rob. Said something about using his iPhone After making excuses he dais that Adam would send him a discord message, and made a new account with Adam's name. Please join the conversation in the Discord. We're in there all the time. Rate us on iTunes. Follow CryptoBasicBrent on Reddit. We are not Financial advisers.
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Episode 209 - Telegram's in trouble, Libra gets ghosted, and more.
10/19/2019
Episode 209 - Telegram's in trouble, Libra gets ghosted, and more.
Another week, another Flagship! This week, the CryptoBasic Avengers have assembled to talk shit about big tech. The roasting session begins with Telegram and ends with Libra, given the fact that all bullshit leads to the Big Zucc. Additionally, Epic Games is starting to get its feet wet with crypto and eToro is making... interesting strides in the world of bot trading. All of the above and more on today's episode, so tune in! Dive into the cryptoverse with us on this week's Flagship Friday. Rapid Fire Oxford added 650 words to the their English dictionary and one of them was Satoshi. "The smallest monetary unit in the Bitcoin digital payment system, equal to one hundred millionth of a bitcoin. Bitcoin was added in 2013. Other words added were whatevs and chillax lol Took 8 years to reach $5 billion revenue, One year after that it reached $10 billion in August 2018 And now it's about to eclipse $15bill in early 2020. left on Monday of this week and now 21 of it's original 28 backers are still there. Seven backers have all left within the past week. Happened on the same day FB was in Geneva with all the other companies formally signing on. SEC has formally instructed Telegram Group to halt the sales of cryptocurrency Gram "filed an emergency action and obtained temporary restraining order against two offshore entities" Why? - "conducting an alleged unregistered, ongoing digital token offering in the U.S. and overseas" Remember they raised $1.7 billion So by failing to register the sale of tokens back in Jan 2018, which are considered securities, they are in violation of the Securities Act of 1933 “Our emergency action today is intended to prevent Telegram from flooding the US markets with digital tokens that we allege were unlawfully sold,” failed to provide investors with info regarding business operations, financial condition, risk factors, & management And remember this quote from a we covered a few weeks ago on the show "Telegram promised in legal documents that it would deliver Grams to investors by Oct. 31, 2019, or give back the money." Making matters worse, violation of Securities Act may mean Telegram has to forfeit the $1.7b it raised “We have repeatedly stated that issuers cannot avoid the federal securities laws just by labeling their product a cryptocurrency or a digital token,” So what are they going to do? They notified investors that the TON project will launch later, to April 30 2020 From an email to investors "We disagree with the SEC’s legal position and intend to vigorously defend the lawsuit. We are proposing to extend the deadline date in order to provide additional time to resolve the SEC’s lawsuit and work with other governmental authorities in advance of the launch of the TON network.” The investors (token holders) have to agree to delay, and there are two groups (2 rounds of investing) 2nd round investors have till Oct 23 to sign & approve, If investors choose not to sign they can get back approximately 77% of their money. 1st round investors got different communication Court hearing scheduled for Oct 24 Libra Time! Like we said last week, I guess Libra gets its own section. Warren Davidson - US Senator (R)-Ohio: Facebook should drop the Libra project and Adopt Bitcoin. Tons of game son this engine - Assassin's Creed, Batman games, Borderlands, literally hundreds of games. , it was super cool. The game had a real time wallet transaction list. You paid to join the game in Nano, and then every monster you killed earned you nano in real time, transferred to your wallet as soon as you killed the monster. Then you could spend nano to buy items in the game. Imagine a Fortnite or other battle royale game where you spent a little money to join, and first place got it all. A reddit user pointed out 0 spending $500 and give them their allowance there. CFTC Chairman Heath Tarbert has said ether is a commodity Speaking to Yahoo Finance he made the following statement “We’ve been very clear on bitcoin: bitcoin is a commodity. We haven’t said anything about ether – until now, It is my view as chairman of the CFTC that ether is a commodity.” Concerning currencies created by hard forks “It stands to reason that similar assets should be treated similarly. If the underlying asset, the original digital asset, hasn’t been determined to be a security and is therefore a commodity, most likely the forked asset will be the same. Unless the fork itself raises some securities law issues under that classic Howey Test.” I hate that this thing might work. It uses an AI to scrap Twitter for sentiment on crypto assets and allocates the portfolio accordingly. Requires a $2k min investment. It's in partnership with the TIE Data Analysis firm. Current Allocations DONT OPEN 47% DASH 25% EOS 21% XRP 5% IOTA 2% ETC I was a little bit disingenuous - There are only 13 monitored assets. BTC, ETH, XRP, IOTA, BCH, NEO, ETC, DASH, EOS, XLM, LTC, ZEC, ADA They've also said they're eliminating 90% of all posts because they believe they come from bots. HOLY SHIT. They also have to program the AI to figure out if EOS referrs to, say, the EOS blockchain or the EOS camera. They said they know there's a ton of XRP shills out there, for instance, pushing an XRP tweetstorm every day, but they compare it to the previous day to make any decisions on allocation THAT'S A SCAM (Maybe it's not a scam but thought it should go here) SK man arrested, 337 others charged in global sweep rescued 23 victims since march 2018 Jong Woo Son, 23, operated a Darknet market that accepted Bitcoin and distributed more than 1mill sexually explicit videos involving children. Serving 18 months in prison in SK. Seems low. “Our agency’s ability to analyze the blockchain and de-anonymize Bitcoin transactions allowed for the identification of hundreds of predators around the world,” Fort said. “The scale of this crime is eye-popping and sickening.” IRS Criminal Investigation Division also claimed credit. Don Fort, chief of the division Shots Fired! Tone Vays was on a Panel with CSW and he showed up wearing a shirt that said "We are all Satoshi Nakamoto - Except Craig S. Wright".
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Episode 209 - Telegram's in trouble, Libra gets ghosted, and more.
10/19/2019
Episode 209 - Telegram's in trouble, Libra gets ghosted, and more.
Another week, another Flagship! This week, the CryptoBasic Avengers have assembled to talk shit about big tech. The roasting session begins with Telegram and ends with Libra, given the fact that all bullshit leads to the Big Zucc. Additionally, Epic Games is starting to get its feet wet with crypto and eToro is making... interesting strides in the world of bot trading. All of the above and more on today's episode, so tune in! Dive into the cryptoverse with us on this week's Flagship Friday. Rapid Fire Oxford added 650 words to the their English dictionary and one of them was Satoshi. "The smallest monetary unit in the Bitcoin digital payment system, equal to one hundred millionth of a bitcoin. Bitcoin was added in 2013. Other words added were whatevs and chillax lol Took 8 years to reach $5 billion revenue, One year after that it reached $10 billion in August 2018 And now it's about to eclipse $15bill in early 2020. left on Monday of this week and now 21 of it's original 28 backers are still there. Seven backers have all left within the past week. Happened on the same day FB was in Geneva with all the other companies formally signing on. SEC has formally instructed Telegram Group to halt the sales of cryptocurrency Gram "filed an emergency action and obtained temporary restraining order against two offshore entities" Why? - "conducting an alleged unregistered, ongoing digital token offering in the U.S. and overseas" Remember they raised $1.7 billion So by failing to register the sale of tokens back in Jan 2018, which are considered securities, they are in violation of the Securities Act of 1933 “Our emergency action today is intended to prevent Telegram from flooding the US markets with digital tokens that we allege were unlawfully sold,” failed to provide investors with info regarding business operations, financial condition, risk factors, & management And remember this quote from a we covered a few weeks ago on the show "Telegram promised in legal documents that it would deliver Grams to investors by Oct. 31, 2019, or give back the money." Making matters worse, violation of Securities Act may mean Telegram has to forfeit the $1.7b it raised “We have repeatedly stated that issuers cannot avoid the federal securities laws just by labeling their product a cryptocurrency or a digital token,” So what are they going to do? They notified investors that the TON project will launch later, to April 30 2020 From an email to investors "We disagree with the SEC’s legal position and intend to vigorously defend the lawsuit. We are proposing to extend the deadline date in order to provide additional time to resolve the SEC’s lawsuit and work with other governmental authorities in advance of the launch of the TON network.” The investors (token holders) have to agree to delay, and there are two groups (2 rounds of investing) 2nd round investors have till Oct 23 to sign & approve, If investors choose not to sign they can get back approximately 77% of their money. 1st round investors got different communication Court hearing scheduled for Oct 24 Libra Time! Like we said last week, I guess Libra gets its own section. Warren Davidson - US Senator (R)-Ohio: Facebook should drop the Libra project and Adopt Bitcoin. Tons of game son this engine - Assassin's Creed, Batman games, Borderlands, literally hundreds of games. , it was super cool. The game had a real time wallet transaction list. You paid to join the game in Nano, and then every monster you killed earned you nano in real time, transferred to your wallet as soon as you killed the monster. Then you could spend nano to buy items in the game. Imagine a Fortnite or other battle royale game where you spent a little money to join, and first place got it all. A reddit user pointed out 0 spending $500 and give them their allowance there. CFTC Chairman Heath Tarbert has said ether is a commodity Speaking to Yahoo Finance he made the following statement “We’ve been very clear on bitcoin: bitcoin is a commodity. We haven’t said anything about ether – until now, It is my view as chairman of the CFTC that ether is a commodity.” Concerning currencies created by hard forks “It stands to reason that similar assets should be treated similarly. If the underlying asset, the original digital asset, hasn’t been determined to be a security and is therefore a commodity, most likely the forked asset will be the same. Unless the fork itself raises some securities law issues under that classic Howey Test.” I hate that this thing might work. It uses an AI to scrap Twitter for sentiment on crypto assets and allocates the portfolio accordingly. Requires a $2k min investment. It's in partnership with the TIE Data Analysis firm. Current Allocations DONT OPEN 47% DASH 25% EOS 21% XRP 5% IOTA 2% ETC I was a little bit disingenuous - There are only 13 monitored assets. BTC, ETH, XRP, IOTA, BCH, NEO, ETC, DASH, EOS, XLM, LTC, ZEC, ADA They've also said they're eliminating 90% of all posts because they believe they come from bots. HOLY SHIT. They also have to program the AI to figure out if EOS referrs to, say, the EOS blockchain or the EOS camera. They said they know there's a ton of XRP shills out there, for instance, pushing an XRP tweetstorm every day, but they compare it to the previous day to make any decisions on allocation THAT'S A SCAM (Maybe it's not a scam but thought it should go here) SK man arrested, 337 others charged in global sweep rescued 23 victims since march 2018 Jong Woo Son, 23, operated a Darknet market that accepted Bitcoin and distributed more than 1mill sexually explicit videos involving children. Serving 18 months in prison in SK. Seems low. “Our agency’s ability to analyze the blockchain and de-anonymize Bitcoin transactions allowed for the identification of hundreds of predators around the world,” Fort said. “The scale of this crime is eye-popping and sickening.” IRS Criminal Investigation Division also claimed credit. Don Fort, chief of the division Shots Fired! Tone Vays was on a Panel with CSW and he showed up wearing a shirt that said "We are all Satoshi Nakamoto - Except Craig S. Wright".
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Emergency Podcast - Scammers Impersonating Us
10/18/2019
Emergency Podcast - Scammers Impersonating Us
There are scammers out there impersonating us in the Discord arena, we need your help to find them if you can.
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Episode 208 - How is Gods Unchained standing up to China? What did the IRS just do for US Investors? Also some poker content.
10/13/2019
Episode 208 - How is Gods Unchained standing up to China? What did the IRS just do for US Investors? Also some poker content.
Rapid Fire UNICEF can now receive, hold, and disperse donations of ether and bitcoin cryptocurrencies. Funding open source technology benefiting children and young people around the world POS introduces a system where validators can be questioned. So you can challenge a block for being illegitimate . "This is how the blockchain becomes more expensive to attack. If someone wants to really bring the network down, they would have to create a lot of malicious blocks. To do so, they would have to stump up a huge amount of ether as collateral—which they would lose if challenged. This makes a major attack much more expensive to run, which Buterin claimed, would be an improvement on proof of work." Called the McAfee DEX, completely decentralized crypto exchange running on the Ethereum blockchain. no KYC, opened in Beta, only ERC=20s. Nothing on the exchange will ever be monitored, recorded, or restricted. Hearthstone Player Blitzchung speaks out and gets banned by Blizzard. Earlier this week Hearthstone player, Blitzchung, spoke out against Hong Kong in a Twitch interview saying "Liberate Hong Kong, revolution of our age!" in a gas mask. Blizzard then removed him from the Hearthstone Grand Masters tournament taking away his prize money ($10,000) and effectively banning him from future tournaments. Tencent, a Chinese conglomerate has a large stake in Activision/Blizzard Gods Unchained reaches out and says they will reimburse his lost winnings plus invite him to their upcoming $500k tournament. Went on to say that Blizzard will exploit their players if it is in their immediate financial interest. And how Gods Unchained has built uncensorable items with an open economy and market. It's being treated as property for general tax purposes. You must recognize capital gains or losses on Virtual currency sales If you held it for 1 year or less you pay via short term, and 1 year or more it's long term capital gains. This starts the day after it was received. They are basing gain or loss on USD. You get to include all fees you get charged while acquiring the currency in value. It's unclear if you get to claim network fees here, but it sounds like you can. Getting paid in Virtual Currency is income. Paying someone in Virtual currency means you have to recognize your gain or loss on that. They say a lot that you need to determine the fair market value of the currency based on the day you get it, but don't give any specific guidelines for doing it with regards to crypto. If you DON'T receive coin through a hard fork you don't have income. If you DO get coins in a hard fork you do have income. Soft forks produce no value. Hard forks are considered ordinary income, not capital gains, again based on fair market value when it happens. This is going to be wildly hard to track - but you are supposed to base it on the day that you can actually sell it / transfer it If you get paid / goods / or whatever for a currency with no market value you have to base its value on the goods you got. Gifts are not taxable income, but have a value placed on them when you get them. Donations don't recognize gain/loss and do count as donations based on fair market value. Transfers between your own wallets do not cause realization of gains. Problems the community has noticed: The rules on hard forks are a little unclear. Someone could theoretically hard fork you into a massive tax liability as an attack. They determine that having the public / private keys is enough to determine ownership, so as long as I send that to the person I attack I guess I can make them get taxed? In a talk at DevCon5, Vlad Zamfir gave a warning about Ethereum. Developers need to start thinking about it's legal status, rather than hoping it is so disruptive governments are forced to accept it. "Ethereum was born into a counter-cultural movement, a cypherpunk movement. In Ethereum, we went much farther than Bitcoin and said we didn't just want to do this for money, but for everything." The issue is smart contracts are basically an esoteric legal form, marked as understood as legal contracts. He went on to ask "how does our anti-legal revolution react with the established legal order?" He is posing this question that is important. If blockchain creators keep acting brazenly with no respect for the law, it will provoke a reaction from the governments. Three scenarios: Ethereum gets co-opted, regulated, or competed out of existence. Governments could create a centralized system that runs electronic contracts, making payments happen automatically. Could be faster and cheaper and more tempting to businesses He then closes the talk saying "we (ethereum) are pretty disruptive and it's inevitably going to come to a head. What we're doing is too radical and revolutionary for the established legal order to ignore" More problems for Libra House Financial Committee will be meeting with Zuck(Bucks) Oct 23rd. The hearing is tentatively called "An Examination of Facebook and Its Impact on the Financial Services and Housing Sectors" Facebook had a meeting about regulation pressure. 27/28 people that signed up showed up for the meeting. “No. I really think that a currency should stay in the hands of countries. I’m not comfortable with the idea of a private group setting up a competing currency,” Cook told the publication in an interview published today. “A private company shouldn’t be looking to gain power this way.”
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Episode 207: Libra Faces Opposition, Coinbase and more rate cryptos, and yet another huge scam.
10/06/2019
Episode 207: Libra Faces Opposition, Coinbase and more rate cryptos, and yet another huge scam.
This week the team talks about cryptocurrency news regarding Libra, scams and more. Rapid Fire (This was a stablecoin of some kind) () Coinbase Blog - "" Create system that rates tokens on how close they are to a security "Although the U.S SEC has issued helpful guidance... Analysis requires fact-intensive analysis by knowledgeable experts Analysis is difficult, expensive, and will lead to judgement calls & disagreements So Coinbase brought together industry leaders, securities law experts to create "a scalable, points-based rating system centered around a set of several dozen, yes / no factual questions." Question derived directly from SEC guidance and case law They say they focused on "objective, repeatable, fact-driven questions" Council Members Part of the Libra association Basically a crypto vault were transactions are validated by Quorum No usernames/passwords/phonenumbers nothing a hacker could use or get "clients whitelist devices held by their employees, who use the Anchorage app to submit transactions. You’d propose selling $10 million worth of Bitcoin or transferring it to someone else as payment, and a minimum of two-thirds of your designated co-workers would need to concur to form a quorum that approves the transfer." Also uses behavioral analysis, biometric signals, network signals. Its human AI mix Bittrex Circle Coinbase DRW Cumberland Genesis Grayscale Investments Kraken Scores range between 1 and 5 (5 being most like a security) Expected to change over time, and open to feedback Bitcoin - 1.0 Absence of a marketed token sale & marketing efforts decentralized development and usage Anonymity of the Project Team Litecoin, Monero Ethereum - 2.0 Current functionality of the platform Absence of investment-like language or marketing Decentralized development and usage Zcash EOS - 3.75 Absence of investment-like language or marketing Current functionality of the platform Raised funds in excess of what would reasonably be necessary for development of the platform Decentraland, Hedera Hashgraph, Loom Network, Stellar, Tezos XRP - 4.0 Usage of securities-like language Sale of tokens or token interests prior to the existence of token utility Marketing of the token suggesting an opportunity to earn profits Decentralized development and usage CEO of Ripple has said its pretty clear XRP is not a security (t) We know there's been tons of official opposition , Treasury Department and , , Indian and , and Tuesday that Visa, Mastercard, and “other financial partners that signed on to help build and maintain the Libra payments network” are now reconsidering whether they should remain involved. Apparently FB been asking them to help and show support, and they are declining "Their reluctance has Facebook scrambling to keep Libra on track." Prior August reporting said Libra partners were wary that pushing Libra would "attract broader regulatory scrutiny of their activities" Lo and behold, DOJ requested Visa, Mastercard, Stripe & PayPal to provide a "complete overview of their money-laundering compliance programs and how Libra will fit into them.” Here's the rub None of the 28 association members have committed beyond nonbinding letters The $10 million that FB asked for each member for development? No one has paid it Multiple flanks FB facing heat from DOJ opening an antitrust investgation. Also the FTC and , like multiple Led by NY AG, but Colorado, Florida, Iowa, Nebraska, NC, Ohio, Tennessee, and DC involved Federal investigation getting cooperation from Snapchat Legal team for years kept a dossier of "ways that the company felt FB was trying to thwart competition" The tile of the documents.... Allege things like Instagram effectively barred users from linking to their Snapchat profiles in their bios. Also that Snapchat content was prevented from trending on the platform Supressed search results of snap-related searches But apparently FTC has contacted "dozens of tech executives and app developers” Investigators also looking into Onavo VPN FB bought in 2013 Later pressured into shutting it down amid reports it was sucking up lots of data about user app usage Its apparently this data that clued them in on WhatsApp posing a potential threat, and pushing them to buy it They were also using Onavo to monitor how people used Snapchat, how many snaps a day they sent THAT'S A SCAM What is fair win? Well shit I might as well let them tell you word for word - Blockchain + gambling, blockchain + game, establish industry standard interface, 70% income anti-subsidy investor players. So this is being listed as a $150M Ponzi Scheme. Posted about on medium by Philippe Castonguay First red flag - the team consisted of a famous piano player (Dang Thai Son) and an instagram influencer's (Jessica Vu) pictures. Dude found typos and bugs all over the contract. He also found that the contract had been drained for 2600 ETH once on 7/27 with an old exploit. He then finds an exploit where you can essentially swap out an invite code and steal ETH from depositors to the contract. They got a group together to decide what to do and exposed the scam last week. And of course as soon as they announced the problem, team drained the accounts.
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Episode 206 - Justin Sun invites the big dogs to eat, Telegram's doing stealthy crypto moves and 640 crypto projects get EXPOSED.
09/27/2019
Episode 206 - Justin Sun invites the big dogs to eat, Telegram's doing stealthy crypto moves and 640 crypto projects get EXPOSED.
Another week, another flagship. This time, all 3 of the guys are on the show, as Brent's sniffles have subsided and he's pumped up to talk crypto with the crew. Today we go over how Kik's ditching its messaging service to focus on crypto, how Telegram is about to bamboozle libra, as well as the entire crypto space, in the most cool-guys-don't-look-at-explosions way possible, and we're taking a look at 640 crypto projects that haven't pubished a single line of code in over a YEAR. We also (lightly) touch on the price of bitcoin (so that it doesn't trip and fall further down) and we answer a mailbag question concerning halvenings asked by yours truly, America's favourite editor, Jason. Dive into the cryptoverse with us on this week's Flagship Friday. Rapid Fire Zuck has refused to commit to the planned 2020 launch date. Bogged down by regulators saying it poses a risk to financial stability and could be used in financial crimes and a threat to sovereign currencies. Zuck posted on FB that FB is taking a more cautious approach bringing forward projects that are "sensitive to society" and allowing a period of consultation and "working thru the issues" Kumbaya 3.1% increase over last 30 days. Unlike BTC network more nodes on Lightning Network will make it more efficient First off he did announce on Tuesday during a that he's going to reschedule his lunch with Buffett "very soon" of note which I hadn't realized - he had actually invited Trump “Mr. President, you are misled by fake news. #Bitcoin & #Blockchain happens to be the best chance for US! I'd love to invite you to have lunch with crypto leaders along with @WarrenBuffett on July 25. I guarantee you after this lunch, nobody will know crypto more than you!” Then he started making overtures at Yang So apparently this started when Yang announced on debate that he was doing UBI pilot program Yang’s initiative to UBI $1k to 10 ppl per mth for 1 yr, I'll pledge UBI $1k to 100 ppl per mth in 2020! I'll pick 1 to attend lunch w/ me & @WarrenBuffett 2020! I'll let Yang assist me in picking the lucky 100! Join us! #YANG2020 @AndrewYang Mini rant - lots of ways to be and succeed, Credit where it is due. hate him still Bakkt? Yes. Owned by ICE (Intercontinental Exchange), NYSE's parent company. Bitcoin futures exchange and digital assets platform opening 2018. Was planning on launching in 2018 but postponed it for a year due to volume of interest and regulatory issues. Bakkt Launched a few days ago. This has been a hinge point for many people on whether institutions are going to go ballistic grabbing Bitcoin Futures contracts. In less than 24 hours they did have $600k in contracts bought. That's actually kinda slow to me. However, the price of Bitcoin went down. Already scammers put up a fake website called for an ETH and BTC giveaway lol Based on a research of 2,000 startups by the Coincodecap project, 640 were completely inactive. (32%) analysis of Coincodecap, which links exchange rate success with code commits, reveals that the assets belonging to the inactive projects have a market capitalization of $415 million. with more than $80 million in market cap didn’t push any code since 2018 One of the reasons for the weak activity is that creating a new blockchain project can be relatively simple, especially if the token is built over the Ethereum network. Exchanges with most inactive projects Crex24 - 30 Coin Exchange - 39 YoBit - 62 We know Quantum computing is coming. Google partnered with NASA to execute a Quantum computation. They were able to produce exactly one calculation in 3 min 20 seconds that it would take the most advance supercomputer today (Summit) 10,000 years to complete. Here's the tricky thing - this claim was made in a paper on NASA's site, and it was taken down. What does this mean for crypto? Well nothing new really, maybe some of these core dev teams need to work on quantum resistance sooner, but we know it's coming. The timeline, according to the Quantum Devs and big crypto names (charles, Andreas) ranges from 10 to 30 years to crack current encryption. What we do know is that it won't be easy. Everyone is super mad at Libra, Congress, EU, everyone clamped down hard Meanwhile, Telegram Open Network (TON) POS network promising to integrate blockchain payments to...365m users... By the end of October no less Even though they raised $1.7B they barely acknowledged it much less talk about it "On September 8, Telegram dumped half a million lines of code for TON, hundreds of pages of new documentation, and a beta" Theres little time to figure out everything, but if they deliver on "high speed and decentralization", it will be the largest blockchain launch in history Check out these quotes German Central Bank - "We do not possess any specific information on TON. That's why we cannot comment on this app.” European Central Bank - “It looks like another crypto experiment, not really an issue for regulators/ overseers at this stage,” Of course TON Labs argues it has to do with the centralized vs decentralized nature of each VP Pavel Prigolovko said "If there is one person who manages the payment system, it is this person who must comply with all the laws and regulations of the regulators, and if there is no central agent, then there is no one to present the requirements to,” The main challenge will be to get enough tech savy Gram holders to become validators. (CryptoPeaStew shoutout and reminder ) Supposedly they have developed industrial-grade solutions to run the validation process They're also responding to concerns about Data storage & privacy in a simple way - We dont collect or store data, its decentralized and public, so fully transparent. All transaction details will be public like on any other public ledger Lastly some concerns over BlackMoon exchange whose cofounder, Ilya Perekopsky, is Telegrams VP Already said they will be one of the first to list Grams
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Episode 205 - EOS troubles brewing, N. Korea is all about that crypto, and finally... it's a bird! It's plane! It's the Federal Reserve!
09/21/2019
Episode 205 - EOS troubles brewing, N. Korea is all about that crypto, and finally... it's a bird! It's plane! It's the Federal Reserve!
Welcome once again to Flagship Friday! Although one day late, we're still calling it Flagship Friday to keep our tradition alive. Flagship Extended Weekend didn't sound all that nice. Tune in as Karim and Adam (Brent's got the sniffles :') dive into EOS and its latest scandal, talk about North Korea's crypto project and the Federal Reserve's intervention on the economy, along with some juicy commentary and rants by Karim, our in-house "important things" expert. So if you wanna hear Karim spit some fire preaching and Adam PASSIONATELY agreeing with him, put on your headphones and press play cause this episode is a feisty one. Dive into the cryptoverse with us on this week's Flagship Friday. Rapid Fire Netflix has an upcoming series on crypto. Altcoins to be exact. Will be interviewing Vitalik, Charles, and Da Hongfei (NEO) EA tweets out “invest in Crypto”. New character in Apex Legends Istanbul, the Ethereum mainnet update has a release date after most recent maintenance update. Istanbul is Ethereum’s long-debates hard fork. First update will be by in October or November and the second update will be 1Q 2020. That update will include ProgPoW (progressive proof of work) J.P. Morgan's nlockchain-based network grows to over 330 banks. It's called the Interbank Information Network. Deutschbank is big players. They are using Quorum, a permissioned version of the Ethereum blockchain. Ethereum celebrates the end of August with more than 75 million unique addresses. [](Ethereum Is Sweet) Ethereum has had a steady rise Q1 of 2018. Basically looks like a 45 degree angle since then. Back in July of 2017 it was at roughly 2 million addresses. overnight borrowing rates shot up, forcing the New York Federal Reserve to come to the rescue with a aimed at easing stress in financial markets First wanted to understand overnight rate Amount of cash a bank has can fluctuate a lot based on daily activity, they can have shortage or surplus of cash at the end of the day. Banks with surplus can lend money overnight to banks with shortages to maintain reserve requirements Interest rate that large banks use to borrow and lend from one another. This rate is targeted by the central bank, which is also a participant in the market (lending and borrowing) Since this is the base borrowing rate it can be used as a predictor of short term rates for broader economy. Goes up when liquidity decreases Fed target rate for July? Between 2% and 2.25%. On Monday it hit 5%, which was up from 2.29% previous week, it kept surging until 10% high on tuesday Called an overnight repo operation, where Fed eases downward pressure on markets by purchasing treasuries and other securities Managed to inject $53b into the system One theory was for the stress is a large quarterly withdrawal by US companies to pay Taxes (estimated around $100b total) On wednesday Fed had to pour an extra $75b, so $128b, getting rates to lower to 3% (still above target rate) Bigger pic, we now have a $1 trillion federal deficit so Government borrowing has climbed (Tax revenue decreased because of tax cuts, but bipartisan surge in spending) EOS Troubles Brewing A few weeks ago one of it's early supporters, EOS Tribe, a small company that participated in the launch of the first EOS chain called it quits as an EOS block producer. In a post made on Steemit Eugene Luzgin said "We at EOS Tribe have never participated in the game of vote trading and stayed true to our principles, and hence while we leave EOS as Block Producer, we are also free to speak truth and give warnings to the rest." WHOA. Shots fired!! You guys covered in your EOS 101 how there were issues with governance and that it's pretty centralized. 21 block producers at any time that make governance decisions, establish consensus on the chain, and earn substantial rewards. This has always been a concern and now the most technically proficient BPs are receiving little to no rewards at all. Luzgin called it a braindrain. What does he mean by that exactly? Most of the BPs are in located in China May 8th 2019 they burned $167 million in EOS for the worker proposal system, which was a way to fund EOS dapp development EOS NY proposed an EOS user agreement which was adopted y 15 of the 21 BPs at the time but nothing against vote-buying was in the agreement two forks already, Telos and Worbii. Telos has a token cap at 40k and number of innovations to ensure potential BPs actually serve. Worbii created with certain consumer protections and more of a focus on the financial industry. not saying EOS is a sinking ship but touting themselves as the Ethereum killer is a bit much. Crypto Around the World THAT'S A SCAM [](ICOBox Gets Slapped With $14 Million Fine From SEC)
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Episode 205 - EOS troubles brewing, N. Korea is all about that crypto, and finally... it's a bird! It's plane! It's the Federal Reserve!
09/21/2019
Episode 205 - EOS troubles brewing, N. Korea is all about that crypto, and finally... it's a bird! It's plane! It's the Federal Reserve!
Welcome once again to Flagship Friday! Although one day late, we're still calling it Flagship Friday to keep our tradition alive. Flagship Extended Weekend didn't sound all that nice. Tune in as Karim and Adam (Brent's got the sniffles :') dive into EOS and its latest scandal, talk about North Korea's crypto project and the Federal Reserve's intervention on the economy, along with some juicy commentary and rants by Karim, our in-house "important things" expert. So if you wanna hear Karim spit some fire preaching and Adam PASSIONATELY agreeing with him, put on your headphones and press play cause this episode is a feisty one. Dive into the cryptoverse with us on this week's Flagship Friday. Rapid Fire Netflix has an upcoming series on crypto. Altcoins to be exact. Will be interviewing Vitalik, Charles, and Da Hongfei (NEO) EA tweets out “invest in Crypto”. New character in Apex Legends Istanbul, the Ethereum mainnet update has a release date after most recent maintenance update. Istanbul is Ethereum’s long-debates hard fork. First update will be by in October or November and the second update will be 1Q 2020. That update will include ProgPoW (progressive proof of work) J.P. Morgan's nlockchain-based network grows to over 330 banks. It's called the Interbank Information Network. Deutschbank is big players. They are using Quorum, a permissioned version of the Ethereum blockchain. Ethereum celebrates the end of August with more than 75 million unique addresses. [](Ethereum Is Sweet) Ethereum has had a steady rise Q1 of 2018. Basically looks like a 45 degree angle since then. Back in July of 2017 it was at roughly 2 million addresses. overnight borrowing rates shot up, forcing the New York Federal Reserve to come to the rescue with a aimed at easing stress in financial markets First wanted to understand overnight rate Amount of cash a bank has can fluctuate a lot based on daily activity, they can have shortage or surplus of cash at the end of the day. Banks with surplus can lend money overnight to banks with shortages to maintain reserve requirements Interest rate that large banks use to borrow and lend from one another. This rate is targeted by the central bank, which is also a participant in the market (lending and borrowing) Since this is the base borrowing rate it can be used as a predictor of short term rates for broader economy. Goes up when liquidity decreases Fed target rate for July? Between 2% and 2.25%. On Monday it hit 5%, which was up from 2.29% previous week, it kept surging until 10% high on tuesday Called an overnight repo operation, where Fed eases downward pressure on markets by purchasing treasuries and other securities Managed to inject $53b into the system One theory was for the stress is a large quarterly withdrawal by US companies to pay Taxes (estimated around $100b total) On wednesday Fed had to pour an extra $75b, so $128b, getting rates to lower to 3% (still above target rate) Bigger pic, we now have a $1 trillion federal deficit so Government borrowing has climbed (Tax revenue decreased because of tax cuts, but bipartisan surge in spending) EOS Troubles Brewing A few weeks ago one of it's early supporters, EOS Tribe, a small company that participated in the launch of the first EOS chain called it quits as an EOS block producer. In a post made on Steemit Eugene Luzgin said "We at EOS Tribe have never participated in the game of vote trading and stayed true to our principles, and hence while we leave EOS as Block Producer, we are also free to speak truth and give warnings to the rest." WHOA. Shots fired!! You guys covered in your EOS 101 how there were issues with governance and that it's pretty centralized. 21 block producers at any time that make governance decisions, establish consensus on the chain, and earn substantial rewards. This has always been a concern and now the most technically proficient BPs are receiving little to no rewards at all. Luzgin called it a braindrain. What does he mean by that exactly? Most of the BPs are in located in China May 8th 2019 they burned $167 million in EOS for the worker proposal system, which was a way to fund EOS dapp development EOS NY proposed an EOS user agreement which was adopted y 15 of the 21 BPs at the time but nothing against vote-buying was in the agreement two forks already, Telos and Worbii. Telos has a token cap at 40k and number of innovations to ensure potential BPs actually serve. Worbii created with certain consumer protections and more of a focus on the financial industry. not saying EOS is a sinking ship but touting themselves as the Ethereum killer is a bit much. Crypto Around the World THAT'S A SCAM [](ICOBox Gets Slapped With $14 Million Fine From SEC)
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Episode 205 - EOS troubles brewing, N. Korea is all about that crypto, and finally... it's a bird! It's plane! It's the Federal Reserve!
09/21/2019
Episode 205 - EOS troubles brewing, N. Korea is all about that crypto, and finally... it's a bird! It's plane! It's the Federal Reserve!
Welcome once again to Flagship Friday! Although one day late, we're still calling it Flagship Friday to keep our tradition alive. Flagship Extended Weekend didn't sound all that nice. Tune in as Karim and Adam (Brent's got the sniffles :') dive into EOS and its latest scandal, talk about North Korea's crypto project and the Federal Reserve's intervention on the economy, along with some juicy commentary and rants by Karim, our in-house "important things" expert. So if you wanna hear Karim spit some fire preaching and Adam PASSIONATELY agreeing with him, put on your headphones and press play cause this episode is a feisty one. Dive into the cryptoverse with us on this week's Flagship Friday. Rapid Fire Netflix has an upcoming series on crypto. Altcoins to be exact. Will be interviewing Vitalik, Charles, and Da Hongfei (NEO) EA tweets out “invest in Crypto”. New character in Apex Legends Istanbul, the Ethereum mainnet update has a release date after most recent maintenance update. Istanbul is Ethereum’s long-debates hard fork. First update will be by in October or November and the second update will be 1Q 2020. That update will include ProgPoW (progressive proof of work) J.P. Morgan's nlockchain-based network grows to over 330 banks. It's called the Interbank Information Network. Deutschbank is big players. They are using Quorum, a permissioned version of the Ethereum blockchain. Ethereum celebrates the end of August with more than 75 million unique addresses. [](Ethereum Is Sweet) Ethereum has had a steady rise Q1 of 2018. Basically looks like a 45 degree angle since then. Back in July of 2017 it was at roughly 2 million addresses. overnight borrowing rates shot up, forcing the New York Federal Reserve to come to the rescue with a aimed at easing stress in financial markets First wanted to understand overnight rate Amount of cash a bank has can fluctuate a lot based on daily activity, they can have shortage or surplus of cash at the end of the day. Banks with surplus can lend money overnight to banks with shortages to maintain reserve requirements Interest rate that large banks use to borrow and lend from one another. This rate is targeted by the central bank, which is also a participant in the market (lending and borrowing) Since this is the base borrowing rate it can be used as a predictor of short term rates for broader economy. Goes up when liquidity decreases Fed target rate for July? Between 2% and 2.25%. On Monday it hit 5%, which was up from 2.29% previous week, it kept surging until 10% high on tuesday Called an overnight repo operation, where Fed eases downward pressure on markets by purchasing treasuries and other securities Managed to inject $53b into the system One theory was for the stress is a large quarterly withdrawal by US companies to pay Taxes (estimated around $100b total) On wednesday Fed had to pour an extra $75b, so $128b, getting rates to lower to 3% (still above target rate) Bigger pic, we now have a $1 trillion federal deficit so Government borrowing has climbed (Tax revenue decreased because of tax cuts, but bipartisan surge in spending) EOS Troubles Brewing A few weeks ago one of it's early supporters, EOS Tribe, a small company that participated in the launch of the first EOS chain called it quits as an EOS block producer. In a post made on Steemit Eugene Luzgin said "We at EOS Tribe have never participated in the game of vote trading and stayed true to our principles, and hence while we leave EOS as Block Producer, we are also free to speak truth and give warnings to the rest." WHOA. Shots fired!! You guys covered in your EOS 101 how there were issues with governance and that it's pretty centralized. 21 block producers at any time that make governance decisions, establish consensus on the chain, and earn substantial rewards. This has always been a concern and now the most technically proficient BPs are receiving little to no rewards at all. Luzgin called it a braindrain. What does he mean by that exactly? Most of the BPs are in located in China May 8th 2019 they burned $167 million in EOS for the worker proposal system, which was a way to fund EOS dapp development EOS NY proposed an EOS user agreement which was adopted y 15 of the 21 BPs at the time but nothing against vote-buying was in the agreement two forks already, Telos and Worbii. Telos has a token cap at 40k and number of innovations to ensure potential BPs actually serve. Worbii created with certain consumer protections and more of a focus on the financial industry. not saying EOS is a sinking ship but touting themselves as the Ethereum killer is a bit much. Crypto Around the World THAT'S A SCAM [](ICOBox Gets Slapped With $14 Million Fine From SEC)
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Episode 205 - EOS troubles brewing, N. Korea is all about that crypto, and finally... it's a bird! It's plane! It's the Federal Reserve!
09/21/2019
Episode 205 - EOS troubles brewing, N. Korea is all about that crypto, and finally... it's a bird! It's plane! It's the Federal Reserve!
Welcome once again to Flagship Friday! Although one day late, we're still calling it Flagship Friday to keep our tradition alive. Flagship Extended Weekend didn't sound all that nice. Tune in as Karim and Adam (Brent's got the sniffles :') dive into EOS and its latest scandal, talk about North Korea's crypto project and the Federal Reserve's intervention on the economy, along with some juicy commentary and rants by Karim, our in-house "important things" expert. So if you wanna hear Karim spit some fire preaching and Adam PASSIONATELY agreeing with him, put on your headphones and press play cause this episode is a feisty one. Dive into the cryptoverse with us on this week's Flagship Friday. Rapid Fire Netflix has an upcoming series on crypto. Altcoins to be exact. Will be interviewing Vitalik, Charles, and Da Hongfei (NEO) EA tweets out “invest in Crypto”. New character in Apex Legends Istanbul, the Ethereum mainnet update has a release date after most recent maintenance update. Istanbul is Ethereum’s long-debates hard fork. First update will be by in October or November and the second update will be 1Q 2020. That update will include ProgPoW (progressive proof of work) J.P. Morgan's nlockchain-based network grows to over 330 banks. It's called the Interbank Information Network. Deutschbank is big players. They are using Quorum, a permissioned version of the Ethereum blockchain. Ethereum celebrates the end of August with more than 75 million unique addresses. [](Ethereum Is Sweet) Ethereum has had a steady rise Q1 of 2018. Basically looks like a 45 degree angle since then. Back in July of 2017 it was at roughly 2 million addresses. overnight borrowing rates shot up, forcing the New York Federal Reserve to come to the rescue with a aimed at easing stress in financial markets First wanted to understand overnight rate Amount of cash a bank has can fluctuate a lot based on daily activity, they can have shortage or surplus of cash at the end of the day. Banks with surplus can lend money overnight to banks with shortages to maintain reserve requirements Interest rate that large banks use to borrow and lend from one another. This rate is targeted by the central bank, which is also a participant in the market (lending and borrowing) Since this is the base borrowing rate it can be used as a predictor of short term rates for broader economy. Goes up when liquidity decreases Fed target rate for July? Between 2% and 2.25%. On Monday it hit 5%, which was up from 2.29% previous week, it kept surging until 10% high on tuesday Called an overnight repo operation, where Fed eases downward pressure on markets by purchasing treasuries and other securities Managed to inject $53b into the system One theory was for the stress is a large quarterly withdrawal by US companies to pay Taxes (estimated around $100b total) On wednesday Fed had to pour an extra $75b, so $128b, getting rates to lower to 3% (still above target rate) Bigger pic, we now have a $1 trillion federal deficit so Government borrowing has climbed (Tax revenue decreased because of tax cuts, but bipartisan surge in spending) EOS Troubles Brewing A few weeks ago one of it's early supporters, EOS Tribe, a small company that participated in the launch of the first EOS chain called it quits as an EOS block producer. In a post made on Steemit Eugene Luzgin said "We at EOS Tribe have never participated in the game of vote trading and stayed true to our principles, and hence while we leave EOS as Block Producer, we are also free to speak truth and give warnings to the rest." WHOA. Shots fired!! You guys covered in your EOS 101 how there were issues with governance and that it's pretty centralized. 21 block producers at any time that make governance decisions, establish consensus on the chain, and earn substantial rewards. This has always been a concern and now the most technically proficient BPs are receiving little to no rewards at all. Luzgin called it a braindrain. What does he mean by that exactly? Most of the BPs are in located in China May 8th 2019 they burned $167 million in EOS for the worker proposal system, which was a way to fund EOS dapp development EOS NY proposed an EOS user agreement which was adopted y 15 of the 21 BPs at the time but nothing against vote-buying was in the agreement two forks already, Telos and Worbii. Telos has a token cap at 40k and number of innovations to ensure potential BPs actually serve. Worbii created with certain consumer protections and more of a focus on the financial industry. not saying EOS is a sinking ship but touting themselves as the Ethereum killer is a bit much. Crypto Around the World THAT'S A SCAM [](ICOBox Gets Slapped With $14 Million Fine From SEC)
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Episode 204 - Binance does an oopsie, BTC transactions hit the billions, and our co-host is heartbroken.
09/13/2019
Episode 204 - Binance does an oopsie, BTC transactions hit the billions, and our co-host is heartbroken.
The CryptoBasic crew is back from the dead! Last week Brent had the amazing idea of recording an episode while sitting on the passenger seat of his car and talking to the rest of us through his mobile data connection, all while recording NOT through an actual microphone, but an external recorder. This trainwreck of a sentence itself should be, I believe, enough explanation as to why last week's Flagship didn't happen. This week however, all's set to go and we're back at it again! Tune in to find out what's up with plagiarization accusations against Binance, learn about bitcoin hitting the ONE BILLION USD in a single transaction milestone, discover the true identity of Karim's CryptoBasicStalker, and find out why our co-host Adam Levy ditched this episode. Spoiler alert: he's got the heartache blues. Dive into the cryptoverse with us on this week's Flagship Friday. What have we released? Interview with Marius Interview with CryptoCanary Rapid Fire [LINE Wins Japan License for Crypto Exchange](() () () Crypto Around the World (+Mailbag Section!)
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Episode 203 - CryptoConvos: Marius Kramer of Emberfund.io
09/02/2019
Episode 203 - CryptoConvos: Marius Kramer of Emberfund.io
We're starting the week off with an exciting interview, as we've got Marius Kramer, number #1 writer on Quora for cryptocurrencies and fund manager on Emberfund! We talk all kinds of bitcoin, and of course, all kinds of shitcoin. Marius shares his insights on today's crypto market and its future, goes over his process of evaluating a project and -get this- goes over ALL of the top 300 coins. All of them. If your favourite kinda-red-flaggy coin is on his shit list... then you're probably gonna have to rethink your investments. Join Brent and Marius for a trip to the cryptoverse on this episode of the CryptoBasic Podcast! Check out Marius' page on Quora:
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Episode 202 - CryptoConvos: Kevin Ting of cryptocanary.app
09/01/2019
Episode 202 - CryptoConvos: Kevin Ting of cryptocanary.app
On today's show, Brent is joined by Kevin Ting, co-founder of CryptoCanary, a website focused on consolidating opinions and reviews of various projects in the cryptocurrency/blockchain world, providing users with a community-driven platform for researching before investing. Kevin talks to us about how the platform works, what shapes a crypto project's rating, how they deal with "review-bombing" issues and inaccurate reviews and what the project's near future looks like. If you wanna know how your preferred shitcoin that "will be the next ethereum, bro, I swear" fares against the rest of the space, go to cryptocanary.app. Before you do that though, make sure to tune in to today's CryptoConvos episode! Links from the show: CryptoCanary's telegram channel: CryptoCanary's website: Kevin Ting on Linkedin: Quick diclaimer - we are not financial advisors. The CryptoBasic Podcast provides entertainment only. Every investment has inherent risk.
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Episode 201 - World's first crypto bank, Chinese government crypto, and Craig Wright gets owned in court?!
08/30/2019
Episode 201 - World's first crypto bank, Chinese government crypto, and Craig Wright gets owned in court?!
Any Flagship Friday is a happy Flagship Friday when we've got shit to talk about Craig Wright, scamlord extraordinaire, Satoshi Suck-a-moto, the douchebag to end all douchebags. And guess what: this is a happy Flagship Friday. :) So, JOIN US on this episode to listen to us talk shit about Craig Wright and discuss his defeat in court, something that we've been longing for for quite some time. Also, the wonderful People's Republic of China is making a step towards transparency and democracy with launching its own cryptocurrency! Maybe...! Does something smell fishy...? Anyway - on the side of good news, we're talking official crypto banks in Switzerland, crypto bird feeders and more! Dive into the cryptoverse with us on this week's Flagship Friday. --- Rapid Fire - Wikipedia is a verified Brave browser publisher. Considering they send emails out every year asking for donations, this is another great way to donate to Wikipedia. - - Venezuelan pharmacy, Farmarket, has added Dash as a payment option in 22 locations.: - US Air Force Partners With Constellation Blockchain Firm: - Interactive Bird Feeder With Crypto: - Interactive Bird Feeder where for $0.50 USD you can feed the birds with BTC, LTC, Dogecoin or NANO. Birds that pop in are House Sparrows, Collared Doves, Great Tit, and Blue Tit. - Located in Slovakia. --- - Craig Wright Loses Case again Ira Kleinman - A Reporter named Katie Ananina was in the courtroom for the case and was live Tweeting it on Monday. - Wright's lawyers continue to argue Wright can't provide proof YET (remember he was moving the goalposts - this time to Jan 21, 2020) - They just kept begging for more time in different ways. - Kleinman family lawyer gets to recap all CSW lies, including the phrash "Dr. Wright is dishonest. He is a Serial Forger" - He even kinda quotes Twain - "The problem with not telling the truth is to remember the lies you previously said" - Finally the judge says this "Dr. Wright did not impress me as someone telling the truth. All of his testimonies have been rejected on this matter". Why isn't that perjury? - 50% of all patents are given to Dave's estate. 50% of all the supposed BTC is ordered paid as well, which is about 480K BTC. --- - Alleged Capital One Hacker Accused of Secretly Mining Cryptocurrency: - individual accused of perpetrating a massive-scale hack of credit card issuer Capital One - hacked cloud customers’ servers to mine cryptocurrency for herself. - Exploited the fact that some people misconfigured the webapp firewalls on the servers they rented - Online she posted that “if I had a partner I could have them take over my crypto-jacking enterprise and be a stay at home.” - Thompson allegedly gained access to 140,000 Social Security numbers, 1 million Canadian Social Insurance numbers and 80,000 bank account numbers, as well as data pertaining to customers’ credit scores, credit limits and balances. - World's First Licensed Crypto Bank Seen As Game-Changer: - Reported from ZeroHedge the co-founders of Sygnum crypto bank have hailed the award of Swiss banking license as a game changer. - Could open the floodgates of integration of cryptocurrencies and other digital assets into established financial sector. - First time this type of license has been granted WORLDWIDE. Obviously Zug is a crypto hub so the fact that Switzerland is the first country in the world to do this is not a surprise. - The Swiss Financial Market Supervisory Authority was skeptical bc they wanted to safely and reliably integrate the worlds of crypto and mainstream finance. - Sygnum even created its own digital payment token backed by the Swiss franc. - Curious what you guys think about the implications of this - Telegram Pushes Ahead With Plans for ‘Gram’ Cryptocurrency: - Telegram doing their own crypto like Libra - Called the Gram, and they told investors they are ready to send out first batches withing a few months - Leaked, investors had signed NDA lol, this is anonymous but NYT - 200m to 300m global users - They raise $1.7b in 2018 but unlike FB have mostly kept project secret - A spokesman for Telegram did not respond to multiple requests for comment. - "company was created by Pavel Durov, a self-described libertarian who fled Russia after clashing with the government and being forced to sell off his first successful social network, VKontakte.' - NYT say they saw a pitch for Gram that said it would be decentralized like BTC so it can skirt government regulations. That they will be governed by decentralized network once released (and telegram no control) - Telegram promised in legal documents that it would deliver Grams to investors by Oct. 31, 2019, or return the money! - Pre offering btw was 2.89b Gram for $1.7B --- Crypto Around the World - "Argentina's New Shitcoin": - a "wastecoin" called JellyCoin has been created by Argentina to reward waste management. --- - Chinese Government Crypto? Yes! No. Maybe? Bullish or Bullshit?!?! - Forbes - Alibaba, Tencent, Five Others To Receive First Chinese Government Cryptocurrency: - China's central bank will launch a state-backed cryptocurrency and issue it to seven institutions in the coming months - Source was Paul Schulte, independent researcher (head of financial strategy for China Construction Bank until 2012) - Industrial & Commercial bank of China, Bank of China, Agricultural Bank of China, alibaba, Tencent, and Union Pay - Forbes says it was confirmed by second anonymous source, said it may launch for their big shopping day (singles day, Nov 11) - “China is barreling forward on reforms and rolling out the cryptocurrency,” “It will be the first central bank to do so.” - Not Launching a Cryptocurrency in November: China’s Central Bank: - The People’s Bank of China (PBoC) called the coverages “inaccurate speculation,” - Reuters attempted to reach all the seven institutions for confirmation. Alibaba declined to comment, while others did not respond. THAT'S A SCAM - SUB Shuts doesn Telegram Group - Co-Founder Deletes Twitter: - Trevon James Facing SEC Charges: - This was kinda amazing. The title to HIS OWN VIDEO it this - "Trevon James Facing SEC Charges for Bitconnect | Jail Time?!" - The first link in his shownotes is something called Trontopia. - Spends a decent amount of the video talking about how he shouldn't have even been able to promote it because he didn't create it so its not his fault he didn't make it. - He's not getting a lawyer - Top comment on his youtube "Trevon now works for the feds. For life. Watch yo back round here" lolol - He has 176 Patrons on Patreon. KIDDING ME?? - He literally has a video that says "CAN I REPEAT THE SUCCESS OF BITCONNECT ON MY CHANNEL NOW" as his latest release. "I'm gonna try to recreate the huge euphoria of Bitconnect with a Decentralized Application" which then cuts to "Hey its not on me dawg" with throwing his hands up. - LA man pleads guilty to $25 mill BTC money laundering scheme - 25 year old LA man operating an unlicensed biz. $25 mil exchanged over 2 years. Kunal Kalra, known as Kumar, skeclemayne, and coinman. Los Angeles man pleads guilty to $25 million Bitcoin money laundering scheme | Micky:
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Episode 200 - Hong Kong, Yang Gang, and Scams galore.
08/24/2019
Episode 200 - Hong Kong, Yang Gang, and Scams galore.
FLAGSHIP FRIDAY (8/23/19) Rapid Fire Omg it's animated lol Lumiflux and his Dust Attack Someone on reddit posted a reminder that this would not work on Monero. () - K Running on Dem ticket, outsider type On his site in his policies he has "" section With current tech we shouldn't have to wait in line at polling stations Machines being used are just as vulnerable to tampering/hacking "Americans should be able to vote via their mobile device, with verification done via blockchain. This would dramatically increase participation in all elections, whether local, state or federal." "It is 100% technically possible to have fraud-proof voting on our mobile phones today using the blockchain." CRYPTO AROUND THE WORLD - K Going into 11th weekend of protests, 1.7m people marching (about 25%) One of the Crypto ATM providers, Genesis block, giving out water bottles and umbrellas Funded by international BTC donations Bottles themselves have QR code to donate more btc to fund more supplies (rant) Overall ATM providers say they see a decrease in volume (about 10%) and premium price in HK dollars - K There is definitely a demand for cheap power, operations setting up in SBU discovered cryptocurrency mining operations at one of the country's nuclear plants alleges that the internet connection installed to facilitate the mining operation posed a significant security risk local court said confidential data about the plant’s operation has also been leaked online. Iceland, thanks to its near-endless geothermal energy Canada - Hydroelectricity Iran - Subsidized energy So the people working at the plant saw a chance to pay no power costs Saw this in Venezuela as well since government subsidizes power A miner in China serving 3.5yrs for stealing energy from a train network for a 50 rig set up (rental near train lines) - K French security researcher, Pierrick Gaudry, has found a critical vulnerability in the blockchain-based voting system Officials planned on using it for the elections...next month Gaudry figured how to derive private keys from public keys He basically said its because they used a method which uses encryption key sizes that were too small to be secure. Dude's Quote It can be broken in about 20 minutes using a standard personal computer, and using only free software that is publicly available We dont know exactly what he could do with the private keys, protocols not in English yet. "In the worst case scenario, the votes of all the voters using this system would be revealed to anyone as soon as they cast their vote." TBF - This was thanks to officials posting it on Github and asking researchers to attack Moscow officials agree key is too small, that it was only for trial period. They said they would go from 256 bits to 1024 Gaudry thinks they need 2048 And Gaudry will get $15k (1m Ruble) THAT'S A SCAM Long Story of a Scam - Reddit - B Guy under the username Montana02115 named Dean starts it. User reporting is IdkWutImTalkingAbout Asks him about some project called NKN. Dude says he works with a team that handles private sales of equity for IEOs etc and invites the guy to his Team Speak. Gets welcomed to the research team. Sends a SAFT for a token called Perlin - WTF is a SAFT? Well it stands for Simple Agreement for Future Tokens. This is basically a pinky promise to deliver tokens when something is operational. Since it's "later" it skirts the acredited investor rule. They then ask people what they want to contribute. The people really do send ETH transactions, and are either also scammed or in on it. First one is for 1100 ETH. That's the only transaction he saw, and they said they'd collected 11K ETH so far, so this guy sends 10 ETH, all of his money, and he gets sent a Perlin token. Well it looks like it's a fake token that's been created to LOOK like Perlin. The token even was being held in a Binance wallet, but of course whoever made it could have sent it there. Perlin hasn't had their token generation yet. He brings that up and is instabanned from the group. Then he convinces them to let him back in, and they're doing another one for a token called Sovrin which also hasn't had a Token Gen. They scedule another sale, and he isn't there and gives some excuse. Miraculously no one else is there either so they decide to have it the next day. That day when he said he was low on funds he got banned from the chat. Reddit figured out who the guy was and he created his own subreddit called BinanceIEO - B I saw that Cardano joined the Messari Disclosures Registry so it piqued my interest. They focus on transparency for these projects. They have a methodolgy for prices and for supply numbers that is interesting. They use - Maximum, Diluted to 2050, Outstanding, Liquid, Ciruculating
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Episode 199 - HUGE Chinese ponzi scheme, New Zealand’s CryptoSalaries, Moscow’s blockchain and more
08/16/2019
Episode 199 - HUGE Chinese ponzi scheme, New Zealand’s CryptoSalaries, Moscow’s blockchain and more
Join us on another Flagship Friday for your weekly dose of crypto news, shenanigans and goings-on! This week we talk about New Zealand's new step towards adoption, as it legalized using crypto as payment for employees, Moscow's Ethereum-based blockchain designed for transparently functioning city services, and Binance's coins listed for its US platform. Also, Brent never fails to remind us that there are more douchebags in the crypto scene other than Craig Wright, Karim just CANNOT stop buying Cardano and Adam almost died. Twice. Honestly. Dive into the cryptoverse with us on this week's Flagship Friday. --- Rapid Fire - Bullish or Bullshit - Mark Cuban sees gold & BTC as the same thing: - And now Dallas Mavs accept Bitcoin, the 2nd NBA team to do so behind, the Kings who were accepting BTC in 2014. Mavs will be using BitPay - Binance unveils the coins that will be available on it's US exchange - New Jersey has started a Blockchain Initiative Taskforce: --- - Barclays ends partnership with Coinbase: - Relationship began in March last year when Coinbase was expanding in Europe - Was mean t to make it easier for users to deposit and withdraw pounds to buy/sell crypto - Neither company was down to comment - Barclays declined to comment, while Coinbase did not respond to ***repeated*** requests for comment - Common problem for crypto, one survey showed 3/4ths of crypto businesses in Britain have to bank overseas - Even firms that don't handle digital coins, like web designers, just for being crypto associated --- Crypto Around the World - New Zealand just became the first country to legalize salary payments in cryptocurrencies: - legally allow companies to pay salaries in cryptocurrency starting September 1 - The country's tax agency ruled salaries and wages may be paid in cryptocurrencies - so long as the preferred digital coin is pegged to at least one standard, or fiat, currency. - also requires that the crypto of choice be directly convertible into a standard form of payment. - Excludes self-employed workers from switching income into crypto - Moscow to Develop a Blockchain System for Transparent City Services: Moscow officially looking for a contractor to build blockchain system to host city's administrative services Announced auction to build ethereum-based system, 57m Rubles ($850k) List of services & specs - Issuance of documents (property owners, residents, etc) - Allocation of slots at city's farmers markets - Will use proof-of-authority and max capacity of 1.5m simultaneous viewers (pop 12m) They expect it to take 60 days to build once contractor has been chosen & contract signed IT Department said it wants to increase confidence in Moscow's electronic services by boosting transparency using blockchain Also integrated with other experiments Moscow city gov is undertaking, like "Active Citizen" which lets residents express preferences on matters such as locations of new bike paths, street decor, city events, etc --- THAT'S A SCAM - PLUS Token, the biggest Chinese Ponzi scheme has scammed 70k BTC and 800k ETH: - Dovey Wan reported it. PlusToken started in mid 2018 and a "high yield return". Total scammed is about $3B! - Core team were tracked down by police 2 months ago and will likely be in jail for decades - Exchanges can't do too much bc Chinese exchanges are closed and Chinese police can't work with exchanges because it's not legal in China. - Was reading an anecdote about this - apparently some lady was selling stuff in her shop and taking it or BTC, and tried to convince the user to join because she got 8% on her money every month. - CipherTrace Report says $4.26B was stolen in exit scams so far this year: - $124M was stolen from exchanges and infrastructure in Q2, bringing YTD total to $227M. - $851M was "lost" by Bitfinex before. - Those numbers are based on when the theft happens, and thus the values are even higher . - We can thank PLUS Token for 2.9B of that big number. - Also in the report that's interesting - XMR is only used for 4% of dark markets and even less for ransomware attacks. Oddly Doge is 5th most used in dark markets. - The report has a cool list of summary of big events relating to overall market in Q2. - Report mentions the big effect of a new Financial Action Task Force (FATF) rule which requires crypto transactions of more than 1k to have identifying information, and speculates there is a way to secure the data except when law enforcement wants it. --- Mailbag intechnicolor (discord) just want to ask, as I'm not entirely sure where to ask this, but has anyone had any luck or experience with crypto cards? I'm looking for essentially the equivalent of a debit card. Does it exist yet? I've come across Ternio a few times in my search, as well as (for better or worse) Coinbase's Shift Tune in for the answer! ;) Rants -Just a reminder that Roger Ver is also a pos. -Things getting so much better Please join the conversation in the Discord. We're in there all the time. Rate us on iTunes. Follow CryptoBasicBrent on Reddit. We are not Financial advisers.
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Episode 198 - Bitcoin just can't STOP hitting milestones, N. Korea's CryptoMissiles, new exit scams and more
08/10/2019
Episode 198 - Bitcoin just can't STOP hitting milestones, N. Korea's CryptoMissiles, new exit scams and more
What a week for the cryptocurrency space. We've got a brand new exit scam (like we didn't have enough of those already), we've got bitcoin being traded at high volumes in Venezuela, and we've got.. Craig Wright? Again? You bet! Tune in to find out whether bitcoin is the world's eleventh largest money supply (hint: it is) and discover which four European countries are the most adoption-oriented out of all (you know you wanna invest in Europe). Dive into the cryptoverse with us on today's Flagship Friday. - Bitcoin Trading is at an all-time high in Venezuela - - Ethereum's on-chain stablecoin transaction volumes surpassed Venmo's total payment volume in Q2. Does include Tether though. - - EtherDelta being investigated by Chinese police for a $176k exit scam. The initial owner sold it to Chinese investors who then created an ICO for it in Jan 2018, a month after it was sold. Then they ran off with investors money. Dovey Wan reported it and she's constantly reporting events - - Gods Unchained hires a former director of Magic The Gathering Arena - - Bitcoin Now the World’s Eleventh Largest Money Supply - - VERGE! YESSSSS( - - False KYC Leak at Binance - - Craig Wright has to pay $73,000 in Legal Fees for Roger Ver - Bullish or Bullshit - - North Korea funds weapons program with stolen cryptocurrency - - Top 4 European Countries Ranked by Cryptocurrency Adoption -
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Episode 197 - Bitcoin milestones, the NBA dabbles in blockchain tech, and more
08/02/2019
Episode 197 - Bitcoin milestones, the NBA dabbles in blockchain tech, and more
Today's show is very very crypto. Not that it isn't generally, but most of the time we tend to touch on other issues too - politics, economics, business - but not today. Today's episode is all about cryptocurrency: we talk about Nano's lightning fast confirmation times, Bitcoin's new milestone of 85% of its total supply mined, as well as Litecoin's imminent halving, with the reward going down to 12.5 LTC per block. Additionally, a sort of motif is present throughout this entire episode. One not very pleasant, one could say. I mean we've got senator Crapo talking about Bitcoin's resilience one one hand, and a "Shitcoin Futures Index" on the other... everything's a bit poopy. This is not a shitty episode however - and that's for sure. Dive into the cryptoverse with us on today's Flagship Friday. Links from the show: -V19 Nano confirmation times are happening very fast. Here's a pic of it happening in .18 seconds: -Q2 Summary of dApps. 1460 active dApps - Ethereum, 664 Ethereum, 354 EOS, 338 Tron. 71 Steem, 19 IOST, 14 TOMOCHAIN: -The IOTA Foundation Announces a $5Mil Grant For Coordicide-related Research: -CoinJazeera Reports Brock Pierce Running for Gov of Puerto Rico in 2020 lol: -US Senator Crapo (R) says that we couldn't ban Bitcoin even if we wanted to: -Litecoin Halving is imminent. Block reward going down to 12.5 LTC per block on August 5th: -Bitcoin Passes New Milestone as Network Mines 85% of Its Total Supply: -Bitcoin Experiences it's first Fed interest rate cut: -Bullish or Bullshit - Crypto Exchange Launches 'Shitcoin Futures Index': -NBA is launching blockchain souvenirs from the maker of CryptoKitties, Dapper Labs: -Weiss Ratings Plagiarism: -Bitcoin Has 'No Intrinsic Value,' As U.K. 'Moves Towards' Crypto Ban:
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Episode 196 - Flagship Friday #83
07/27/2019
Episode 196 - Flagship Friday #83
Another Friday, another Flagship, another excuse to dive into all the crypto shenanigans and goings-on of this past week. What has Justin Sun been up to again and how is it related to the word "chicken"? What do recent stats show about the future use cases of Bitcoin? Could it become the global reserve currency of the 21st century, replacing the gold standard and becoming the basis for a worldwide system of Cyber-Keynesianism or is the person writing this just a closeted bitcoin maximalist? What more could Karim possibly have to say about macroeconomics and politics and what's his new segment all about? Additionally, today we talk once again about our favorite subject of the month, the Ministry of Truth's cryptocurrency, Libra. Did I say Ministry of Truth? I meant Facebook. Did I quote George Orwell? In the times we live in, can you even blame me? Dive into the cryptoverse with us on today's Flagship Friday. - Iran Legalizes Crypto Mining - CoinDesk - Latest Version of Brave Browser Allows for BAT Withdrawals - Norwegian Air to accept bitcoin, opening crypto exchange - Tron Founder Justin Sun Posts Video Showing Him in San Francisco - Tron Crypto Founder Accused of Money Laundering & There's Much More To It - Attorney General Barr speaking out against encryption: https://apnews.com/7423e1ef65a144e6a47e4da63683b3c1 Bitcoin Not Moved for at Least Five Years is at an All-Time High - Survey finds adults couldn’t care less about Facebook’s Libra ‘cryptocurrency’ -
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Episode 195 - CryptoConvos - Colin Fausnaught of ZuckBucks
07/23/2019
Episode 195 - CryptoConvos - Colin Fausnaught of ZuckBucks
On today’s show, Brent is joined by a fellow Facebook-hating, privacy-loving comrade, namely Colin Fausnaught, creator of ZuckBucks, a memecoin designed as a joke and a protest to Facebook’s ever-growing need to have its greedy tentacles probing into more and more aspects of people’s lives - this time the financial one, with Libra. Colin created ZuckBucks on a whim, but never expected that it would actually blow up, gathering a dedicated community around it and even making it onto exchanges. Listen in as we talk about privacy, altcoin specifics, meme economies and the all-seeing eye of The Zucc. THIS IS OUR REFERRAL LINK PLEASE SHOW EMBERFUND YOUR SUPPORT - Subscribe on iTunes - Join Our Discord - Patreon - Ledger Nano X - Cash App: Free $5 -
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Episode 194 - US Politicians on Libra and other news
07/20/2019
Episode 194 - US Politicians on Libra and other news
Today we’re getting super political, so Karim is all excited. Don’t worry, we’re talking about it being related to Crypto. The House had a hearing and we break down some opinions of some people in Congress. We also go on to talk about a couple of scams from across the globe. It’s Flagship Friday-ish on the CryptoBasic Podcast. Rapid Fire YCash is being made to restore mining on commodity hardware which was largely abandoned on the ZCash blockchain. 27% of the enterprises plan to invest roughly between $1-$5mill in blockchain over the next 12 months. Source Deloitte & Touche The funds have been used to scale up production on a new card game called Skyweaver and a gaming platform called Arcadeum. "Trading card from another dimension". Also Gods Unchained, another blockchain card game using ERC-721 tokens (nfts) has had a 50% increase in games played in the past week. You can hold these in Enjin wallet. This was 7 hours long. (R) Does not like BTC (no obvious opinion on Libra) Tom Emmer - (R) Anti Libra, seems to be pro BTC "Individuals insistent on the exclusion of middlemen and the freedom of the individual will continue to create open networks separate from central control. Unfortunately Libra is not designed to minimize middlemen. It in fact relies on them." Kevin McCarthy - (R) Anti Libra, pro BTC "I like bitcoin "Likes decentrlaized nature of BTC "I want to see decentralization because Libra concerns me that they're going to control the market" Ron Paul - (R/I) Pro Crypto, No stance on libra. Treasury Secretary Munchin - Pro Crypto/ BTC, and says Treasury is OK with it with full AML. He was not comfortable with Libra, but was not anti-Libra. He knows his shit. Started right away asking questions about open source, whitepapers, he actually looked at the code and knew that it was written in Rust. Dude checked Github, mentioned who was building the Libra core, asks about scalability issues and why Rust was chosen as the language. Specifically grilling him about the "nightly build" of Rust and why it was being used. David Marcus couldn't actually answer that. House Democrats released a bill called which was anti - Libra, but not pro BTC/ Crypto. - R - Skeptical of Libra - Clearly Pro Crypto - Did not take a clear anti Libra stance. Said it could be a plot to increase Twitter presence lol. (R) Unclear stances Wednesday, July 17th 2019 a Congressman asked Meltem Demirors about shitcoins. How is this real life???? , calls it Zuck Buck. Very Anti-Crypto. Anti Crypto, compares it to “We’re told by some that innovation is always good. The most innovative thing that happened this century is when Osama bin Laden got the innovative idea of flying two airplanes into towers,†Says Libra is more dangerous than Al Queda. (Market Cycles)500 Lets talk about the psychology of a market cycle. Disbelief, hope, optimism, belief, thrill, euphoria, complacency, anxiety, denial, panic, capitulation, anger, depression, disbelief Simplified market cycle - peak,trough, contraction, expansion () A little reminder that this is still a young market with an infastructure in construction Saturday (7/13) Tether mistakenly created more than $5b in an instant, (marketcap rn $3.9b) Article claims sudden flood spooked the market & btc dropped by 12% About 60% of BTC trading is done with Tether And we've already had the NY AG saying Tether used reserves to cover up $850m in missing funds Basically Poloniex needed to move $50m Tether from Omni network to Tron LOL - The Tether EMPLOYEE who processed the order accidentaly created and sent Poloniex $5b Tether instead of $50m CTO Tweeted it was "an issue with the token decimals, fat finger error" Crypto Around the World New Study by the Foundation for Defense of Democracies (FDD) Says US adversaries are using crypto to "circumvent the nation's geopolitical supremacy" Focused on Venezuela, China, Iran, and Russia All of these have been aggressively working on blockchain currencies or networks Venezuela backed with oil, Iran is launching one backed with Gold FDD warns that digital currencies, especially those backed by commodities, will make sanctions much harder to enforce Most worried about China, with massive tech its digital currency could compete with dollar based financial system Also fears that nations will just invest in current systems, like Russia is believed to be investing in btc Found the itself, Overview of findings Venezuela, Maduro, & the Petro - Total debacle, they did not build the economic or technical infrastructure to make the petro useful to citizens and international trading partners. But it will serve as case study for other nations Basically how the US financial dominance is at risk if any crypto becomes popularly used and an alternate financial infrastructure is created But who is the FDD That name already sketches me out big time Washington THinktank focused on "national security and foreign police" (not exactly what you would think of but maybe) Their own about Founded shortly after the attacks of September 11, 2001, FDD conducts actionable research, prepared by experts and scholars from a variety of backgrounds Started looking at their headlines Undeterred Cyber Adversaries Require a More Aggressive American Response As tensions escalate, U.S. must intensify pressure on Iran and the IAEA Australia should place unilateral sanctions on Iran Oman’s Growing Ties with Iran Threatens its Neutrality: FDD Report Long story short - they're just a neocon think tank, hawkish and super pro war. And their funding explains their bias, from their 2011 tax filings "Most of the major donors are active philanthropists to 'pro-Israel' causes both in the U.S. and internationally. With the , it becomes increasingly apparent that FDD’s advocacy of U.S. military intervention in the Middle East, its hawkish stance against Iran, and its defense of right-wing Israeli policy is consistent with its donors’ interests in 'pro-Israel' advocacy" Thats a scam! For $15k You Can Fake Trading Volume A 20 year old at Moscow State University, Andrey Andryunin, (Let's go MSU!!) talks about his company that he co-founded called Gotbit. It inflates trading volume on obscure crypto exchanges for a fee to ultimately get listed on Coin Market Cap. Programs a bot to trade tokens back and forth with each other (what do we call that Karim??) wash trading. Exchanges know about it but don't care too much to stop it. Hotbit based in Shanghai and BitForex out of Hong Kong are two exchanges that Gotbit uses. Gotbit was found to be one of 14 exchanges that basically had zero genuine trading outside of wash trading in a report by Alameda Research, a crypto trading firm. A lot of the coins are top 300-500 market cap trying to appease their investors, maybe make an exit eventually, but ultimately only 2 or 3 of the 30 or so Gotbit clients have a working business model and have reached the point of building an actual product. Adryunin does go on to say that this isn't exactly an ethical business and that if this was on NASDAQ he knows it would be a financial crime. Both him and his cofounder understand there is incoming regulation from the Financial Action Task Force which will regulate crypto related services and exchanges so they are pivoting to other more legitimate things like offering IEOs Had no idea what it was. It was yet another Lending platform that was based off of "High frequency trading bot passive income" Deleted its website and email list and all social networks. Loss was in the millions. Twitter users were tweeting tons of numbers.
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Episode 193 - Did Tron get raided? Maybe?
07/13/2019
Episode 193 - Did Tron get raided? Maybe?
Flagship Friday! We're talking about John McAfee and what he wants to do for Cuba. We cover whether or not Tron headquarters was raided by the police, and this particular episoe without Adam we talk about a lot of different tangents, and more. THIS IS OUR REFERAL LINK PLEASE SHOW EMBERFUND YOUR SUPPORT - https://emberfund.app.link/CryptoBasic Subscribe on iTunes - https://itunes.apple.com/us/podcast/cryptobasic-podcast/id1332565102?mt=2&at=1001lJEw Join Our Discord - https://discord.gg/3EnWx6J Patreon - https://www.patreon.com/CryptoBasic Ledger Nano X - https://www.ledger.com/?r=d6b6 Cash App: Free $5 - https://cash.me/app/RMFXXXL Founder of SpankChain creates YangDAO - https://www.yangdao.org/ Samsung releases ETH SDK - https://developer.samsung.com/blockchain Zimbabwe bans the USD - https://www.scribd.com/document/416240547/NYAG-AFFIRMATION#fullscreen&from_embed Tether is loaning USDT to traders - https://www.scribd.com/document/416240547/NYAG-AFFIRMATION#fullscreen&from_embed Top 10 Companies are Murican - https://www.investopedia.com/articles/active-trading/111115/why-all-worlds-top-10-companies-are-american.asp Turhey's new roadmap https://www.coindesk.com/turkeys-new-economic-roadmap-calls-for-central-bank-cryptocurrency Bullish or BS - Police Raid Tron - https://medium.com/@Tronfoundation/the-wave-field-community-scam-and-our-response-55631a6b2df1 They didnn't - https://www.reddit.com/r/CryptoCurrency/comments/caj9e1/police_raids_at_tron_offices_in_beijing/ Mcafee wants to build it for Cuba - [email protected]
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Episode 192 - Craig Wright is STILL a Turd
07/06/2019
Episode 192 - Craig Wright is STILL a Turd
Craig Wright cries in court, thus proving he is Satoshi Butthurtamoto. . We go over tons of stories from across the globe, including what’s happening with Facebook’s Libra in China. Our friends Waltonchain make another cameo appearance in our “That’s a scam” Section, and we learn how Adam almost lost $10k by being cocky. # Episode 192 - Flagship 80 # Episode 192 - Flagship 80 - Rapid Fire - [Tether has a Blacklist -](https://tether.to/wallet-service-and-platform-update/) - [Netflix has an Altcoin doc coming out](https://ourbitcoinnews.com/netflix-is-all-set-to-launch-an-altcoin-and-bitcoin-documentary-show-big-names-of-the-industry-involved/) - Vitalik Buterin (Ethereum Founder) - Jihan Wu (Bitmain Founder) - Justin Sun (Tron Founder) - Yi He (Binance Founder) - Charles Hoskinson (Cardano Founder) - Sunny Lu (VeChain Founder) - Jun Hasegawa (OmiseGo Founder) - Da Hongfei (Neo Founder) - Roger Ver (Bitcoin Cash Founder - [David Marcus - "You won't have to trust Facebook to get the benefit of Libra"](https://www.coindesk.com/facebooks-david-marcus-libra-crypto-users-wont-have-to-trust-us) - [Reddit to build in tipping with BAT and other coins, but mostly BAT](https://decrypt.co/7688/reddit-tip-crypto-bots) - A craft beer company named Brewdog is now accepting shares in their company in cryptocurrency. [Cryptocurrency](https://efp.brewdog.com/equityforpunks/cryptocurrency) - Currencies accepted for Equity for Punks are the following: - Bitcoin, Bitcoin Cash, Bitcoin SV, Ethereum, Litecoin, OmiseGO, Qtum, Augur, Ripple, 0x- [CRAIG WRIGHT](https://zerobin.net/?54865f020b8ad9be#hxdsnaQoV0DarYLJHZ4P72PBR8mmNqBwqtjpuHeexfk=) - This hearing was to see why CSW couldn't provide access to the wallets that are a part of the Kleinman case. - There was a court journalist named Carolina Bolado that was covering the drama in the courtroom with CSW live. - Some of the highlights - remember that e-mail that he send that it turned out he forged? Well the only reason we knew about that was that he submitted it in court. On the stand he accused the opposing counsel of committing purjury by submitting the document. HE SUBMITTED THE E-MAIL. - Then he threw the e-mail across the courtroom. - “You throw another document in my courtroom, you will be in handcuffs so fast your head will spin,†Judge Reinhart said. - He made up some new reasons why he couldn't get the BTC, saying that he will get access to some of the info he needed in 2020 - That really pissed off the judge who clarified that he knew that at the beginning of the trial. - At some point he was crying. - Next trial date is 7/10 - [A new document submitted to the courts before that date - one of the companies "Tulip Trading Limited" was actually purchased in 2014 - which is 3 years after he said he created, but it was purchased as a "shelf" company which means it was crated and aged.](https://www.courtlistener.com/docket/6309656/237/11/kleiman-v-wright/)- Crypto Around the World - (Libra Fights...) [House Democrats call for Facebook to halt cryptocurrency project](https://thehill.com/homenews/house/451459-house-democrats-call-for-facebook-to-halt-cryptocurrency-project) @Karim Baruque - House financial Services Committee asking FB to stop work on Libra - [HFSC Letter to Executives](//oemmndcbldboiebfnladdacbdfmadadm/https://financialservices.house.gov/uploadedfiles/07.02.2019_-_fb_ltr.pdf) - *Investors and consumers transacting in Libra may be exposed to serious privacy and national security concerns, cyber security risks, and trading risks. Those using Facebook's digital wallet - storing potentially trillions of dollars without deposit insurance- also may become unique targets for hackers. For example, during the first three quarters of 2018, hackers stole nearly $1 billion from cryptocurrency exchanges. 3 The system could also provide an under-regulated platform for illicit activity and money laundering.* - [Now Japanese Regulators Are Getting Anxious About Facebook’s Cryptocurrency](https://www.coindesk.com/now-japanese-regulators-are-getting-anxious-about-facebooks-cryptocurrency) - Japans central bank joining chorus of concern vs Libra - Report from Nikkei cites unnamed official from Bank of Japan as - "*It will move money into an absolutely virtual world, so it is completely different than other forms of digital payment.*†- They fear by linking Libra to multiple national currencies they are trying to avoid control from any one nations regulators - Report also posits - People will withdraw from regional bank, buy Libra, FB puts those funds with larger banks (Specifically Mitsubishi Financial Group, Sumitomo Mizuho Financial Groups), so flow away from minor institutions - And that Libra would "free ride" off existing institutions which spend large amounts to stay complaint. - [G7 Forming Task Force in Response to Facebook’s Libra Cryptocurrency](https://www.coindesk.com/g7-forming-task-force-in-response-facebooks-libra-cryptocurrency) - Group of 7 - Canada, France, Germany, Italy, Japan, UK, US, EU - France's Finance Minister, Bruno Le Maire, called for G7 central bank regulators to do a report on FBs Libra by July out of fear it could replace national currencies. - [Dutch article so it's translated but basically a ban on payments with cash over 3k Euros. They want to get rid of the 500 Euro bank note and make it more difficult for money laundering. What do you think of all this? Good or bad? is this just the future of cash if we all convert to crypto in 10-15 years?](https://www.rijksoverheid.nl/actueel/nieuws/2019/07/01/minister-hoekstra-en-grapperhaus-presenteren-nationale-aanpak-witwassen) - [Cuba ‘Studying Cryptocurrency’ to Dodge US Sanctions, Says Gov’t](https://cointelegraph.com/news/cuba-studying-cryptocurrency-to-dodge-us-sanctions-says-govt) - Cuba's Government said in July its exploring Cryptoccurencies to deal with an economic crisis exacerbated by US Sanctions - Cuba has suffered significantly from the Venezuelan crisis since it was major source of aid - “*We are studying the potential use of cryptocurrency... in our national and international commercial transactions, and we are working on that together with academics*,†Reuters quoted economy minister **Alejandro Gil Fernandez** - Previous reports about Iran developing a cryptocurrency to combat SWIFT, a blockchain based project with Russia and Armenia- THAT'S A SCAM [Waltonchain was hit was a 99.99% attack.](https://www.reddit.com/r/CryptoCurrency/comments/c6v611/waltonchain_mainnet_is_under_a_9999_attack/) - Being honest I don't even know what that is, but apparently someone basically got enough hashpower to buy the network. - They had something happen related to this 10 days ago and "Fixed" it. - Now they had to Hard Fork their mainnet. - I don't really get how it works, but Walton essentially has their ERC20 token which is traded, and then their mainnet which gets mined and pays out rewards in tokens that have no way to be traded yet. - Attacker attacked the "worthless" chain. - In a hilarious anecdote that we missed - WTC has that sidechain, and they posted a picture of their offices. Then freychain, the sidechain, posted a picture of theirs a little later, and literally just changed the signs and took a diff angle.  - Shots Fired! Everyone go to [loser.com](http://loser.com) - I'll wait ["Then fork the code and finish it yourself" - Charles](https://twitter.com/vidinhlang/status/1146788569253462017) Reddit Post - r/EOS isn't deleting scam posts to phishing sites. [Response on reddit from "agenttank" - 'scammers always go for people that have been scammed successfully before.'](https://www.reddit.com/r/CryptoCurrency/comments/c7rl8b/notice_on_reos_mods_arent_deleting_comments/)
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Episode 191 - Flagship Friday
06/29/2019
Episode 191 - Flagship Friday
Bitcoin's price goes to 13k, but then back to 10k. The price is on everyone's minds so the team actually sits down and talks about it. We also have some dumb CSW stuff, more of a deep dive on Libra and more. THIS IS OUR REFERAL LINK PLEASE SHOW EMBERFUND YOUR SUPPORT - Coinbase goes offline - https://www.ccn.com/crypto/bitcoin-price-crash-coinbase-offline/2019/06/26/ BTC Market Cap - https://i.redd.it/0rlm5f6v1o631.png Blockchain Products - https://twitter.com/DMemelines/status/1143861718918942720 Pool Together - https://www.pooltogether.us/faq Libra Distribution - https://www.reddit.com/r/CryptoCurrency/comments/c54f39/75_of_the_libra_association_members_are_from_the/ Cyber Criminial - https://thenextweb.com/hardfork/2019/06/26/europol-british-dutch-27m-bitcoin-theft/ Subscribe on iTunes - https://itunes.apple.com/us/podcast/cryptobasic-podcast/id1332565102?mt=2&at=1001lJEw Join Our Discord - https://discord.gg/3EnWx6J Patreon - https://www.patreon.com/CryptoBasic Ledger Nano X - https://www.ledger.com/?r=d6b6 Cash App: Free $5 - https://cash.me/app/RMFXXXL Typo Website - https://thenextweb.com/hardfork/2019/06/24/calibra-fake-cryptocurrency-site-scam-ethereum/ Hackers be hackin - https://micky.com.au/completely-cut-off-city-caves-and-pays-hackers-600k-bitcoin-ransom/ CSW - https://www.ccn.com/crypto/craig-wright-declared-satoshi-nakamoto/2019/06/23/ CSW 2 - https://beincrypto.com/craig-wright-reportedly-failed-to-submit-court-ordered-bitcoin-wallet-addresses/ Fight over Facebook's crypto - https://www.coindesk.com/a-monumental-fight-over-facebooks-cryptocurrency-is-coming Libra and Financial System - https://www.cnn.com/2019/06/25/tech/facebook-libra-hearings/index.html [email protected]
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Episode 190 - IOST 101 Series - With Terrence Wang
06/25/2019
Episode 190 - IOST 101 Series - With Terrence Wang
IOST is an application-friendly, next generation public blockchain infrastructure, helping decentralized app developers overcome some of the most challenging problems with mass adoption. First and foremost, IOST solves the scalability trilemma, or having to select between levels of security, scalability, and decentralization. Through a “Proof-of-Believability” consensus mechanism, IOST enables DApps to build and deploy more meaningful services on its platform, helping more everyday users experience the mass benefits of blockchain services. IOST's website: IOST's twitter page: Terrence's Twitter Account - https://twitter.com/terrence_iost IOST's medium page: Whitepaper - Subscribe on iTunes - Join Our Discord - Patreon - THIS IS OUR REFERAL LINK PLEASE SHOW EMBERFUND YOUR SUPPORT - Ledger Nano X - Cash App: Free $5 - [email protected] The CryptoBasic Podcast is an educational, honest, and entertaining exploration of the fascinating world of cryptocurrencies. Join hosts Brent Philbin, Karim Baruque, and Adam "Roothlus" Levy as they explore concepts and cryptos such as Bitcoin, NEO, Ethereum, Litecoin, Blockchain, Cardano and much more. How does Bitcoin actually work? Should I use Coinbase or Bittrex? What in the world is an ICO? Listen to our 101 episodes on each topic for an in-depth, beginner friendly discussion to find out. Join this trio of professional poker players and lifelong friends as they learn, teach, and joke their way into serious crypto knowledge. Copyright Cipher Consulting Group llc 2018
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Episode 189 - Facebook's Coin vs Bitcoin and other news
06/21/2019
Episode 189 - Facebook's Coin vs Bitcoin and other news
Today we're talking about how the new ZuckBucks (aka Libra) stacks up to Bitcoin. Is it the same? Is it different? Is it even a crypto? We talk about all of these questions in the most basic way that we can. Today we're talking about how the new ZuckBucks (aka Libra) stacks up to Bitcoin. Is it the same? Is it different? Is it even a crypto? We talk about all of these questions in the most basic way that we can. This is a great episode for those that might know what both Bitcoin and Libra are, but aren't really sure how they work together. So share it with your friends, and join us for Flagship Friday number 78 THIS IS OUR REFERAL LINK PLEASE SHOW EMBERFUND YOUR SUPPORT - Bee Keepers like their crypto - Becoming the gold standard - Reddit make LibraCashSV - Ethereum 2.0 planned for launch - THAT'S A SCAM - Quadriga Report - Tweetstorm - Whitepaper -
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Episode 188 - Alex Wang of Emberfund.io
06/18/2019
Episode 188 - Alex Wang of Emberfund.io
On today's featured project episode we are talking with Alex Wang, the Co-Foudner of Emberfund.io. He has helped create a project that solves a need in the space, and honestly investing in general. Emberfund is a non-custodial fund that allows you to have the benefits of a managed fund, and the security of owning your own funds with your own private keys. Listen to Brent ask the questions, learn the process, and get to the bottom of this new asset of fund management. Alex is all about keeping this accessible to all investors, and e goes into exactly how all of this is accomplished in detail on this episode of the CryptoBasic Podcast. THIS IS OUR REFERAL LINK PLEASE SHOW EMBERFUND YOUR SUPPORT - Website: Telegram: Twitter: Subscribe on iTunes - Join Our Discord - Patreon - Ledger Nano X - Cash App: Free $5 -
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Episode 187 - Binance in the US, Facebook's Libra, and more
06/15/2019
Episode 187 - Binance in the US, Facebook's Libra, and more
FLAGSHIP 76 - 6/14/19 Brent is back on the show just in time to get hacked. Binance is coming to the US, but weren't they already there? Facebook announces more plans for the Libra and announces the help of some serious tech giants. Giants that gave them $10M of course. There's a lot more news to cover on this edition of the flagship. Rapid Fire Uber, MasterCard, Stripe, Visa, and have been persuaded to support it's new crypto. Binance is launching a US exchange with a FinCEN registered partner called BAM Trading Service . We always like to hear Google and Blockchain together, so what gives here Quick version - they're using Chainlink as a Decentralized Oracle on an Ethereum Smart Contract. They haven't implemented anything, just used it. Quick explanation of an oracle. Use cases google thinks this provides - Prediction Markets Hedging Against Blockchain Platform Risk Enabling commit/reveals across Ethereum using submarine sends (huh?) Basically this is a pseudo privacy option. One of the things that happens on DEXs is that you can take advantage of the fact that transactions have to go on a blockchain in a certain order. If you know an order was filled you can put in a bigger order later and it would get moved to the top, or even bump that order off. Especially problematic during ICO releases. I really like this quote "The decentralized finance movement is rapidly gaining adoption due to its successful reinvention of the existing financial system in blockchain environments which, on a technical basis, are more trustworthy and transparent than current systems." -Target has been quiet regarding blockchain. In 2016 they hired Aarthi Srinivasan as director of product management for machine learning and blockchain. So clearly they are being secretive about what they are doing. Target has pledged to support IBM's Hyperledger Grid which is a supply chain framework. They are currently seeking a blockchain engineer and a systems developer on their career page. incorporating identity verification tech "investing in supply chain improvements" Lets first talk about Liechtenstein - It's a German Speaking country that's between Austria and Switzerland Takes up a total area of 61.78 Square Miles and has 37,000 people. That's about 1/20th the size of Rhode Island. They have a lot of castles. One of the highest GDPs per person in the world. They're a member of the UN They use the Swiss Franc So the company's name is "Bank Frick" march of last year they started offering crypto for professional traders and financial consultant customers BTC, BCH, ETH, XRP, LTC, ETC, NEM, QTUM, and XLM They can only make one transaction per day They hold all reserves in cold storage. They're even creating a subsidiary that will allow trading called DLT Markets So here's the 900% part - They basically had more website visits. They went from 120 impressions on their website to 1250/month at their peak. Remember Bitcoin2 from last week? Basically they were on 2 super shitty exchanges and had some fake volume and popped up into the top 100 of CMC. This probably isn't a direct response, but should be a step in mitigating that problem on CMC in the future. So far the following have joined - Binance, Bittrex, Liquid, IDEX, OKEX, Huobi, HitBTC, Upbit, Kucoin, Bitfinex, OceanEX, bithumb, Bancor, Gate.io, Bibox, Hacken, Exmo, Coinfloor, Bitrue, Switcheo, Midas protocol, Crypto Briefing, Flipside Crypto. They want to use a standard API across all platforms - CoinMarket Cap's of course. Twice yearly round table on suggested updates to transparency policy. Funding for proof of concept prototypes. That's all we know, but I think this is a result of competition. OnChainFX has been doing something similar with a really much better source of people to be a part of it.
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