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Board Announcements (Altcoins)
Re: [ANN] ARBIT COIN|SHA256| POD VERIFIED |AR/VR WALLET|POS|VOICE 2FA|EXCHANGES
by
digicidal
on 17/08/2016, 05:27:35 UTC
It happens so rarely, but oh that feeling when you buy something random just 'cuz' and it gets pumped to the sky a few weeks later... too bad I didn't have sell orders placed in the stratosphere... I thought 1200 and 2500 were pipe dreams when the volume was all at ~250.  Guess I should have had a few thousand at 120000 but who knew?  Cheesy

Logged in here to find out what the hell I now owned for free and see this...  Huh

I would remind anyone that hasn't been trading coins for very long... what goes up ALWAYS comes back down - even BTC has never gotten back to 1/2 pump levels in 3 years... so take those profits while you can.

If you really believe in the coin, save a few of your profits in the coin - and put some buys in when the correction occurs... but never figure a 10000% rise is the start of something... it's not - it means it's already happened. Smiley
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Board Announcements (Altcoins)
Re: Official BitBay Thread |Smart Contracts Wallet UPDATE|Decentralized Marketplace
by
digicidal
on 03/06/2016, 01:30:47 UTC
...
With pegging, its theoretically possible for a healthy market to sustain thousands of different coins, each one being healthy.
And so a coin only needs to be popular since a user of a coin would only need to concern himself with wether or not its popular enough to resell it at the fair market value (which is of course pegged).

Artificial price growth isn't even a bad thing with a rolling peg. If anything its good. A saavy investor would look at the project, its growth potential and popularity before investing in a coin that artificially grows its price.

The one thing that is absolutely painfully obvious is, the worlds corruption comes not from the technology we have access to, but the hearts of men which cannot be changed. Thus the only true "weapon of mass destruction" in this world is propaganda, capable of shaping beliefs. If anyone finds a way to decentralize the media, that would be the best technology on earth. But how to prevent the voice of propaganda, false news, fake coins, fake devs from infiltrating anything?

Dare I say fake math and fake science?! Do people even question what they learn in school? Why is material automatically accepted just because someone in a position of scientific authority deems the material to be honest and true?
...
And who knows, perhaps people will get tired of being lied to and finally use the tech. A man can dream.

Now get back to work Zimbeck!! This thing won't code itself.

Great post!  I totally agree despite having a bit more fatalistic view of technology itself...  I do find (as someone who has spent their entire life working in and managing corporate IT/IS environments) that there are aspects of technology which is in and of itself deleterious on our health and welfare - but whether these downsides are greater or lesser than those associated with life in the 18th or 19th century is definitely up for debate.  I wholeheartedly agree as far as the propaganda engine and the oligarchical conglomeration of power, resources, and information.

It's an interesting and somewhat paradoxical cycle that man is constantly involved in: free will -> inspiration -> ambition -> corruption/greed -> domination -> rebellion -> conflict -> free will.  The biggest issue is finding a cause/direction which fuels ambition but mitigates tendencies toward corruption and domination.  These technologies may indeed be the first steps in providing a solution (at least as it pertains to commerce and resource allocation).  Perhaps in time a similar technology will provide a decentralized media solution - we have a similar model in twitter/YouTube/Facebook/etc. combined with the mass adoption of phones capable of documenting events at any time from multiple perspectives.  Unfortunately in it's current incarnation they are all little more than a tool for the ambition and greed of a few to exert a similar type of control and domination over the masses while presenting the facade of independence and free will.

Keep up the good work and the rest will happen eventually - either that or we're heading for a massive 'reset' of everything and the survivors will have to pick up the fight!  Hopefully not, but maybe so.

Cheers.
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Board Announcements (Altcoins)
Re: Official BitBay Thread |Smart Contracts Wallet UPDATE|Decentralized Marketplace
by
digicidal
on 01/06/2016, 03:24:28 UTC
More or less coins has absolutely nothing to do with utility, volume, market cap or network effect.

Its just a number. What matters is the other elements. Control of supply with pegging is done to eliminate the need for a market maker. To have supply move up and down to match volume and demand.

The us dollar is a racket, so who cares what its value is. Because there are guys who have infinite spending power, so thats why we use crypto.

I completely agree with you on the mintage having no bearing on utility, volume, etc.  And I would even argue that the idea of spending 20K BAY for a pair of shoes makes more sense than paying .011342 of a BTC for a pair (at least psychologically).

The part that I find ridiculous is the defense arguments of population or the numbers of USD in existence.  Even if there were 500 billion people on the planet... there's still only a few thousand that hold BAY - so that's irrelevant.

As far as the USD being a racket (which I would definitely agree with you on that) - can you really say other than 'potential' that crypto has thus far proven to be any different?   If you replaced 'coin devs' with 'federal reserve' - you'd once again have a group of people that have infinite spending power providing a 'widget' representing whatever value they grant to it, only as long as it is granted (and largely revocable at any time by them as well).

I believe crypto in general has great potential for disrupting the established concepts of exchange and commerce... but especially for those that still hold IPO coins - it's pretty disingenuous to cavalierly disregard any statement of caution with "but the USD is a scam and we're totally different".

At least I would add "we CAN be different" - only history will tell whether that is truly the case.  Regardless, I'm delighted to see the massive amount of work that's being done in crypto in general and in the BAY/BLK circles specifically.  I certainly don't mean to diminish the work and vision you and others have demonstrated in these regards, simply stating that we're miles from the finish line (and realistically not more than a few steps out of the gate).  I just read far too much religious zealotry on coin pages too often and so little calm rationality in regards to the actual application and promotion of crypto.  I was certainly drawn in by the concept and potential back in the early BTC days and it's that same thing that's kept me here (and in BLK) despite all the drama and scamming.

One thing I have learned however, is that the best investments and trades I've made are always the ones made with skepticism and doubt and the disastrous ones are always those made on emotion and blind faith. 

I'd much rather bet on the 'dark horse' that BAY has become now than on the 'golden child' it was initially marketed as being... as it is, my optimism for BAY will always be somewhat dampened by the fact that I didn't act on my skepticism initially.

To those who did, and are possibly coming back and considering investing in BAY now... I can see far, far less downside and an absolute crap-load of upside potential.  For the rest of us it's a much less 'unbridled optimism' that drives our continued investment. Wink

Cheers!
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Board Announcements (Altcoins)
Re: Official BitBay Thread |Smart Contracts Wallet UPDATE|Decentralized Marketplace
by
digicidal
on 31/05/2016, 09:06:46 UTC
It is pointless since there are WAY too many coins out there. I mean 1 billion coins...come on man how ridiculous. So I am gonna buy some new shoes for 20 million BAY??? Dumb as it gets. Too many coins = worthless. Don't hate the truth bearer.

Yeah i know what you mean... trillions of dollars they are totally worthless, perhaps you should burn them.

Such logic, so fashion, much troll, very crypto

Hint: there is billions of people on the earth, one billion coins isn't much the market cap isnt even 1 million usd

Although I agree with the sentiment and I understand the point you're making... but actually those trillions of dollars are becoming worth less and less due to that very fact (printing more and more of them).

And that's a currency backed by a) oil/trade b) one of the most stable and proven world economies historically and c) the (for now) top GDP in the world.

I'm not saying I disagree with the premise, but at the present time if Bitcoin is the US Dollar of crypto then BAY is somewhere around the Bolivian boliviano.  Obviously this analogy has plenty of holes in it as well, but the bottom line is that you can't say that the number is irrelevant in any way or we'd all be rich with a couple of these:


 however as it is you can't even buy a stick of gum with one of those.  That's not to say that BAY is as worthless as a Zimbabwean Dollar... however, simply saying that there are trillions of dollars or 7 billion people in the world does not in any way reflect on the value of a single BAY anymore than watching a movie or wearing an Iron Man T-shirt makes you a super hero.

That being said I'm stacking a couple million more just because I think the depression is very temporary - but I also thought the pump was... and have been proven correct in this. Smiley
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Board Announcements (Altcoins)
Re: [ANN] BlackCoin (BLK/BC) | PoS | No premine | No IPO
by
digicidal
on 09/12/2015, 01:15:57 UTC
Price is dropping, any idea why?

Because coin isn't relevant anymore.
just that it wasn't dropping at all, just the SAT price went lower. The only relevant BLK price is the one vs. CNY for way more than a year now.
Some guy just bought like 2 million of that "irrelevant coin" there, by the way, moving the price by a mre 6% - almost all other alts would be instantly like +100% or more on that alone.

This.  I use an app to monitor my coin portfolio which I have set to display everything in a fiat equivalent.  Means there's never even a moment of irrational panic when there is a sudden change in price.  What someone else sees as a decrease from 7400 sats to 6700 sats... I see as an increase from .025 to .028!  Naturally that's only if there is a larger change to the upside in BTC, but as is usually the case - the BTC move is larger than the BLK one in the opposite direction.  Not that I plan on converting my BTC or BLK to fiat anytime soon (if ever) but still it helps to understand how meaningless a move independent of the larger (BTC/CNY) markets are on the other side of the exchange.

Until at least some coin (even if just BTC) is an option for payment everywhere and for everything that fiat can be exchanged for... it's better to understand the exchange to fiat than the exchange to anything else... because like it or not, it's still a fiat world. Smiley  And to be totally honest that technique certainly wasn't emotionally beneficial during the early pump... but it is kinda fun to see a high five-figure gain in a single day.  Much less so to see it disappear in the following day. Sad
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Board Announcements (Altcoins)
Re: [ANN] BlackCoin (BLK/BC) | PoS | No premine | No IPO
by
digicidal
on 13/11/2015, 06:43:07 UTC
@digicidal
You know that you replied to someone who does not even want to know the answer and has been spouting out his foul shit for 1.5 years now, do you?
Good post, nonetheless.

Of course, and I know feeding trolls rarely if ever satisfies either party. However I think it is clearly not in the interest of either BLK, HALO, or crypto-currencies in general to simply dismiss critical posts as drivel and move along as this helps to reinforce the image of each alt-coin as being 'islands of religious zealots' rather than technologies available to everyone at any time.

Who knows when someone might read this thread?

But no, I didn't figure fmasta was actually interested in discussion or even logical thought in general. Wink
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Re: [ANN] BlackCoin (BLK/BC) | PoS | No premine | No IPO
by
digicidal
on 12/11/2015, 06:17:48 UTC
If the idea of zimbeck was this good, there would have been quite a long time since
opensource concurrent projects had already implemented it, plus make it flourish.
Since the concept is far from very complicated... true ?

Instead of that, it will probably remain unused and unknown

Well, yes and no.  I would have to agree with you that the overall concept of escrow-backed smart contracts is not new, nor is it overly complex... however it would definitely not be accurate to call it "far from very complicated".

I think the real reason that there has not been significant adoption (whether in the xHalo form or Ethereum/BURST/etc...) is that the actual applicability is still massively limited.  Is the Paypal model complex and not easily duplicated?  Certainly not... yet despite being one of the worst (cost-wise, chargeback-wise, etc.) ways of receiving payments online... it is arguably the most broadly adopted.

How many people use contracts in their daily lives right now (smart or dumb)?  If you aren't an attorney, large-scale employer, or management company - you basically never use them, or you use them only because they are provided by the vendor of services or goods you wish to consume... but in those cases you are not crafting the contracts, you are merely agreeing to them.

The same holds true for all crypto-currencies presently.  Whether some altcoin with extremely limited distribution or the 'almighty bitcorn' - the odds of someone you wish to do business with having the both the coins and the desire to go through the process of conversion to fiat or inventory (depending on which they used on the front-end) is very, very slim.

The concept of crypto currencies in general are not terribly difficult to understand, nor that difficult to write... so why are 99% of them simply repackaging of BTC itself?  Everything that applies to crypto in general applies double to smart contract transactions... IMHO at least.  I agree with your last statement "It will probably remain unused and unknown"... however if you are honest you have to admit that the same could be said about Bitcoin.  BTC's market cap is <$4.8B USD... or to put it another way, about the GDP of Guam.  Cheesy

Even if blockchain technology winds up being the 'internet of tomorrow' and sees massive adoption in 10-15 years from now... how likely is it to even resemble what we see of it today? 

I remember the internet of 1990 and how marginal and largely useless for anything other than academic exchange it was.  I remember when my cell phone was about the size of an actual brick, and only worked in a few areas of the city, and cost $1.25/minute to use.  Now I see four out of five people (of any age) glued to their smartphones 24/7 and only rarely using them to actually talk to someone.
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Re: [ANN] BlackCoin (BLK/BC) | PoS | No premine | No IPO
by
digicidal
on 10/11/2015, 07:34:55 UTC
6K is cheap for this coin. Many times it has pumped to 20k from 6k

Hard to say when Chinese pumping next because blk/cny is higher volume then blk/btc

I am accumulating at 6k

Same here this marks round three for me... even if there is only one major pump per year (and even if that pump is only from 5-6K sats to 12-14K sats) as long as you are OK with a 'measly' 100% annual gain it's a winner.  Sure there's always the doubts led by greed... "is something else gonna pump while I'm bagholding and the price seems to have been 5-6K for months"  or "I could make 100% if I dumped this now at 12K, but what if it goes to 16K tomorrow..."

However, compare that to the 'real world' where your bank is paying .5% (if you're lucky) and thanks to rampant printing it's losing much more than .5% in buying power per year... suddenly BLK seems like a pretty great investment.

If you're talking about rent money... no then it sucks horribly... because when you need it, it might be when the value has actually dropped - but as long as you're talking about equivalent value (in fiat) then BLK has been very, very stable for over a year.  It's been a long time since the price actually moved very far to one side or the other of $0.025 USD.  Sure the price in Satoshis moves a great deal... but despite being 45% lower in sats per BLK now than a few weeks ago... the value in USD is actually marginally higher.

I'm building back up again and hope to be back in the six-figure club by the end of the year - but I like to cost average my buys so I don't know if the price will hold.

Basically if you treat it as a currency or even an investment and avoid thinking of it as a religion... you should be able to pull a fairly decent return out of any reasonably liquid cryptocurrency.  It's only when you start dabbling in the flavor of the week coins that die off completely and have .005BTC in trade volume that you lose everything.  BLK has been and continues to be every bit as useful and stable as Litecoin, Peercoin, Darkcoin, etc... and although arguably less useful than BTC... depending on when you bought in to both coins... it's even a better investment than Bitcoin.  Now if you bought at the top of the totally manipulated pump to 97K sats... (at a time when BTC was over $700 no less) then it's probably never going to be anything but a loss.

You could have bought a bunch of real estate in 2007, or dot-com startups in 1998, or Enron/Worldcomm stocks, etc. and been in the exact same boat however... There's really no true 'safe haven' in money - whether real property, virtual property, or fiat currency.  Undecided

i've bought the first time last year @33k and didn't sold @44 thinking at a big pump, but then dumped to 6k. Nice profit. Grin

How can you make a profit with that kind of figure? You bought @33000 then dumped @6000.  Roll Eyes

P.S. k means thousand.  

I'm pretty sure you mistook his/her sarcasm for stupidity there... Wink  Sometimes it's hard to tell on a forum, I know.
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Re: [ANN] BlackCoin (BC) | PoS | No premine | No IPO
by
digicidal
on 10/09/2015, 18:34:11 UTC
I would actually assume even higher for the lost coins (probably close to 1% are sent to bad addresses alone over the course of a year, and crashes without backups, forgotten passwords, etc. another 1% probably).  The cumulative growth is certainly much less than 1% of the total mintage when you factor in the huge number of coins sitting on exchanges not being staked and the similarly significant number in paper wallets or other cold storage that are forgotten for more than a year at a time.

My guess would be that moving forward, 'inflation' of 1% will probably look more like 'deflation' of 2-3%.  At least until a time when there are a ton of places to actually use BLK (or any coin for that matter) regularly as opposed to simply holding/trading.  Basically, until you can buy gas, groceries, clothing, music, etc. crypto is fundamentally only a vehicle of speculation and an academic/social experiment.  Hopefully that will change, but at the moment it is what it is and nothing more.
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Re: Official BitBay Thread |Smart Contracts Wallet UPDATE|Decentralized Marketplace
by
digicidal
on 15/03/2015, 16:09:27 UTC
I fully subscribe to your opinion, especially this phrase
This space will only succeed if we all work together.

yes I agree  Wink



I agree with the general sentiment here, a rising tide lifts all boats. (Claiming 'first' runs contrary to this idea).

I would disagree with that statement.  Especially in an opensource environment often 'first' is the only thing you can ever really claim... because 10 minutes later 'only' isn't true any longer.  Not to mention that a huge amount of the argument for BTC in the first place is that very reason - despite thousands of alt-coins.

The important thing is not to use leverage or deceit to be able to hold on to 'only'... because that is much more destructive to progress than a thousand people all screaming 'first' at the same time. Smiley

JMHO of course.
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Re: [ANN] BlackCoin (BC) | PoS | No premine | No IPO
by
digicidal
on 31/12/2014, 15:49:52 UTC
These dumpers who are jumping onto the XMR ponzi bandwagon are actually making me move higher up in the BLK rich list Wink

XMR ponzi?

I think you mean XPY ponzi.

I think so... although XMR could be argued to be a different kind of ponzi... of course, those same arguments hold for every crypto currency to some extent.  Cool  Doesn't mean I'm not long on the concept... but I'm being a little pessimistic short-term on everything (except maybe BLK simply because it's already seen so much sell-pressure lately).
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Re: Official BitBay Thread |Decentralized Marketplace|Smart Contracts|Rebrand
by
digicidal
on 31/12/2014, 12:40:56 UTC
Have been out of the graphic design biz for some time now, but thought I'd throw a couple into the mix.

Based on the idea of exchange of goods and services (or currency "velocity" if you like).



Quick and dirty I admit.

One thing to consider is that logos should be vector-based so you're not requiring sizes to be produced by the artist in every application, as well as allowing for more attractive implementation in responsive web designs (not to mention printed materials).
Although I'm not the biggest fan, it seems current design trends are favoring flat designs - for now - so that's what I went with.

Still highly skeptical of the prospects for this project... but hey, bounty coins are easy to hold forever! Wink
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Re: [ANN] BlackCoin (BC) | PoS | No premine | No IPO
by
digicidal
on 31/12/2014, 11:30:06 UTC
New wallet causing such a rise today?

I honestly believe this rise is not based on any specific announcement. Unlike other coins we are not relying on checkpoints to create pumps. We are just hard at work at improving our infrastructure and organically building the community. We are seeing an upward trend over time because of that.

This.  Going this route might take years before we get back to the ATH for the coin... but instead of a bunch of bagholders and/or people profiting off bagholders - we'll have decent, yet moderate, returns for holders/traders and exits for those that need to buy things (kinda like a currency actually).   Wink

Although I'm cautiously optimistic, I'll need to see several more weeks before I'm ready to buy back in with most of my BTC.  I'm happy with my holdings, and would like to accumulate some more - but we've had some serious dumps and drama before... and likely will again before everything is smooth sailing (if that's even possible in crypto).

As of now however, I'm back to nothing but BC/BTC in my portfolio... latest XMR recovery allowed me to unload my bags.  Now just  need to cost-average buys in BC over the next 6 months so I don't get caught in another spike. Smiley
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Re: [ANN] BlackCoin (BC) | PoS | No premine | No IPO
by
digicidal
on 24/12/2014, 14:53:36 UTC
I have moved 100 places UP in the rich list in the last week alone just by trading  Shocked

It is a great feeling  Grin

from 10000 to 9900 ? Tongue

LOL ouch... not sure that was called for?  Wouldn't that mean about a 5 BC gain at this point? Wink

I'm only guessing because there's only 1250 BC separating 1090 from 990 - and I would consider that to be a pretty paltry gain from a near 100% swing in the market during said week.
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Board Altcoin Discussion
Re: BitBay | Decentralized Marketplace | Unmoderated Thread
by
digicidal
on 23/12/2014, 07:40:35 UTC
Is there new investors jumping in this scam?  Smiley How much Bob made?  Smiley
There will always be new investors as long as someone aka david zimbeck is still making promises.... promises that he can never fulfill!

I'm pretty sure you are the last person that should be critical of someone not fulfilling promises, Bob.   Roll Eyes
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Board Altcoin Discussion
Re: BitBay | Decentralized Marketplace | Unmoderated Thread
by
digicidal
on 22/12/2014, 12:49:00 UTC
 Huh Roll Eyes Huh
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Re: [ANN] BlackCoin (BC) | PoS | No premine | No IPO
by
digicidal
on 22/12/2014, 12:46:10 UTC

So have we finally ended the long down trend?



I certainly hope so, though it will take at least another 4-6 weeks to know for certain whether this is a true trend reversal or a bump in the downward slope.

Whilst saying that though, in my opinion BLK has been dirt cheap for months so a rise like this need not necessarily be preceded by news. I'm not a TA or anything but my stance on these matters is hodl and enjoy the ride Grin

I'd say the same, give it another month or two, then we can be certain.

Exactly.  If we see even 3 consecutive weeks with higher (even if it's just a few sats higher) closes than the previous weeks... then I'll have confidence that all those buys were into strong hands that are holding for at least a few months - rather than one or two large wallets simply exploiting an oversold market for a quick profit.  If that is the case, then this becomes a great support level to start making actual gains in 2015.
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Board Announcements (Altcoins)
Re: [ANN] BlackCoin (BC) | PoS | No premine | No IPO
by
digicidal
on 22/12/2014, 08:07:14 UTC

So have we finally ended the long down trend?


While I would definitely like to believe so, the fact is that the news hasn't suddenly changed (i.e. no singular announcement preceded this activity) if anything the news occurred during/before the downtrend.  So I definitely would be cautious in thinking it will remain consistent and not reverse.  It's also true that we were way oversold for a long time - so if anything this is more of a correction to the long-term trend... in which case it's bullish, but reservedly so.

Hopefully, this signals the end of the alt-coin bubble - and the consolidation of capital into just a few of the coins with better than average long-term prospects.  Wink
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Board Altcoin Discussion
Re: BitBay | Decentralized Marketplace | Unmoderated Thread
by
digicidal
on 21/12/2014, 12:21:12 UTC
The police knew very little about the Madoff case (it had not been bypassed for decades the investigations of financial regulators) until the very end. In this case the police has all information from Bob's volunteered logs as well as Zimbeck's desperate statement.

1992 - Madoff was investigated as potentially running a Ponzi scheme with Frank Avellino and Michael Bienes (who were the primary parties responsible for funneling investors to Madoff).  Incidentally those two ran a number of 'foundations' since then that also invested with Madoff.  Investigation terminated when the two close down their business.  Undecided

2006 - The SEC receives notice from Harry Markopolos that it is "highly likely" that "Madoff is running the world's largest Ponzi scheme".  The investigator assigned "finds nothing credible" (and then a year later marries Madoff's daughter).  Roll Eyes

At lest 10 people testified during his trial that they had notified the SEC about concerns they had, and a few also contacted NYC law enforcement about it as well.
bloody FUDers they are everywhere  Grin Grin

I LOL'd.  Grin
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Re: BitBay |Decentralized Marketplace|Smart Contracts|IoT Tech|Markets Open
by
digicidal
on 21/12/2014, 12:19:32 UTC
I'm retarded, hear me babble...

Can't argue with you on that point.  Wink