Official cryptocurrency thread (Bitcoin, Ethereum, Altcoin)

[rfgqqabc]

One of the great things about crypto is it cannot currently be hacked.

fyp. Google quantum computing and Shor's algorithm. If there is a sudden non-linear advance then Bitcoins will be trivial to steal. A few blockchains are already researching hash-based rather than elliptical curve cryptography.

Isn't Quantum computing a huge problem for all encryption we currently use?

Isn't SHA 256 a hash function? Past my level of technical expertise but very curious about this subject. ould you provide examples of the hash-based projects?

[Longines]

Isn't Quantum computing a huge problem for all encryption we currently use?

Yes. Going to be a fun few years when uncrackable encryption can no longer be relied upon.

This goes over my head very quickly but is reasonably clear: https://github.com/theQRL/Whitepaper/blob/master/QRL_whitepaper.pdf

https://medium.com/the-quantum-resistant-ledger/be-prepared-for-quantum-computing-era-bb1a9ec6cd35
https://singularityhub.com/2017/11/05/is-quantum-computing-an-existential-threat-to-blockchain-technology/
https://www.sciencealert.com/google-s-quantum-announcement-overshadowed-by-something-even-bigger

[rfgqqabc]

Isn't Quantum computing a huge problem for all encryption we currently use?

Yes. Going to be a fun few years when uncrackable encryption can no longer be relied upon.

This goes over my head very quickly but is reasonably clear: https://github.com/theQRL/Whitepaper/blob/master/QRL_whitepaper.pdf

https://medium.com/the-quantum-resistant-ledger/be-prepared-for-quantum-computing-era-bb1a9ec6cd35
https://singularityhub.com/2017/11/05/is-quantum-computing-an-existential-threat-to-blockchain-technology/
https://www.sciencealert.com/google-s-quantum-announcement-overshadowed-by-something-even-bigger

Ah, QRL, forgot about those guys as I believe they lie somewhere between a scam and delusion.

https://github.com/jplomas 2nd Developer is an NHS consultant, can't find any evidence for the first guy, Peter Waterland but I believe he works for the NHS too. Suspicions around the forming of their Foundation, or lack of. I wouldn't be backing these guys to actually solve this problem. I will add I haven't looked into them properly for the above reasons so its possible I've just been a bit blinded. Definitely an interesting play if these worries become a bit more mainstream. Hopefully, Quantum Computing gets developed by the right people first.

[TightEnd]

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[TightEnd]

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[TightEnd]

Bitcoin plummeted more than 30% in less than 24 hours, just days after reaching nearly $20,000

https://www.nytimes.com/2017/12/22/business/bitcoin-plunges-more-than-25-percent-in-24-hours.html

[RED-DOG]

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Truly brilliant.

[bergeroo]

So John McAfee (antivirus guy) is allegedly paid by various altcoins to 'tip' them as his coin of the day. Each of the coins he tips instantly rockets. In my telegram groups people are refreshing his twitter page so they can buy the coins as soon as he shills them. Very funny and also worrying.

I honestly think a lot of people are going to lose a lot of money in the next year or two. I've already spoken to some people who have. I've joined a few different telegram groups of investors and people into Crypto and almost everyone is incredibly naive. They have only known a bull market and have strong beliefs in these coins and are investing dangerous amounts of their life roll, especially into the smaller coins. Some people are also going to make a lot of money, but of course a lot of these are going to be the creators/owners of the coins themselves.

Some of the coins that are launching are quite laughable in the amount of money they are valued at. I pay more attention to the gambling ones. Funfair is a coin which seems to only have a bad blackjack game right now and has a guy who used to be high up in PKR (that went well) and a guy from William Hill are seen as big plus points.  Somehow it seems to have a market cap of $225,945,38.
https://coinmarketcap.com/currencies/funfair/

Then there is Coin Poker which seems like a giant scam run by Tony G.

It is quite funny to me that if a coin has an actual working product it is viewed as a big selling point for it. Most of these projects do not even have anything that works right now.

[lucky_scrote]

McAfee doesn't need to be paid to shill coins. That screenshot of his Twitter DM is obv fake. However the guy is an absolute moron and is obviously shot for crypto.

Refreshing his Twitter for the pump and dump is dangerous. Everyone will be trying to do it so the losers will be the ones that buy too late on the way up or one ones that buy too much of the coin being shilled and due to slippage cannot place their sell order. Basically a lot of these coins have very low liquidity and these so called spikes can be deceiving.

I've followed a bit of the pump and dump groups. I was savvy and made a bit of money but I decided it wasn't for me. It felt a scummy as hell and I couldnt actually realise my EV. What I'm saying is I might have been lucky to make money.


Totally agree regarding some of these coins that are booming with very little fundamentals. I've said before that when we see some kind of ultimate correction and the market cap goes -60% overnight, the ones hung out to dry will be the ones who have put their money into coins and projects that are worthless. They are difficult to see right now since so much money is being pumped into crypto but I have set my portfolio in a way not for maximum profits, but what I believe is the best long term portfolio that I will need to make the least amount of trades on. As a general rule avoid low market cap coins unless you know a lot about crypto. Avoid coins that have insane hype around them because there is too much noise to determine how good the project is. Try to have the majority of Your portfolio in projects with a bigger market cap/best fundamentals and you reduce your risk.

FWIW I am 50% btc, 20% eth, 13% stratis, 10% neo and 7% blocknet. I only really trade if I really like a new coin or if one of the lower market caps coins I have explodes and I need to diversify my portfolio.

[sm00035]

Does anyone know where you can buy TREX (Tron)

[bergeroo]

Does anyone know where you can buy TREX (Tron)

You can buy it at Binance - but I'm just going to quote the above sentence from LuckyScrote too!

"Avoid coins that have insane hype around them because there is too much noise to determine how good the project is."

I'd say that Tron seems to be one of the most hyped coins along with Verge and Cardano (though I have Cardano myself)

What do you like about Tron?

[TightEnd]

Far-right extremists invested in bitcoin as a defense against efforts to block their political activity. Now they find themselves holding what amount to winning lottery tickets.

says...https://www.washingtonpost.com/business/technology/bitcoins-boom-is-a-boon-for-extremist-groups/2017/12/26/9ca9c124-e59b-11e7-833f-155031558ff4_story.html?tid=sm_tw

[TightEnd]

Bitcoin falls as South Korea announces cryptocurrency crackdown

https://www.theguardian.com/business/live/2017/dec/28/bitcoin-south-korea-crackdown-stock-markets-ftse-100-business-live?CMP=twt_gu

[Whollyflush]

These new articles daily on cryptocurrency hold zero weight- the currency fluctuates so radically in a relatively short space of time it becomes irrelevant or outdated within 48 hrs

[bergeroo]

bizarrely GDAX requires two forms of ID to buy crypto. As I don't drive, all I have is a passport, so it seems like I can't sign up to the site.

Is there any other place to by ETH or BTC for fiat money or do I just have to suck it up and pay the coinbase fees?