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Showing 20 of 667 results by shyliar
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Board Altcoin Discussion
Re: Is Ripple the currency of the future?
by
shyliar
on 30/12/2017, 13:16:11 UTC
No one involved in decentralized cryptocurrency believes ripple has a place in this sphere. Does ripple have a place in the mind of the elite central banks? I doubt it.

Don't be sucked into the current pump. Look here at the historical snapshot of ripple on December 25, 2016.

https://coinmarketcap.com/historical/20161225/

And compare to today.

https://coinmarketcap.com/

Then do the math and understand that the company controlling ripple released another 2,735,548,365 coins into circulation this past year. That means likely they are cash rich in the amounts of hundreds of millions of dollars.

Interestingly, just as they were about to be moved into oblivion cryptocurrency wise, it seems those hundreds of millions were used to pump the price.

At the current price, and assuming they release a similar amount of coins this year, that represents well over 5 billion US dollars of profit. Not bad. It seems it pays to manipulate the price. Don't be surprised with any upcoming release of coins into circulation, historically a little over 1 billion get released after ripple pumps with the use of previous profits. At that point they likely will have a multi-billion dollar war chest for the next round of manipulation.

This works great for day traders; but, if you're an average investor you need to keep in mind it's being manipulated. The fact is most folks here don't know when they will pull the rug out from under you. If you've been holding take the money and run. As all things crypto it's buyer beware.
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Board Altcoin Discussion
Re: Ripple deliberately keeping their price down?
by
shyliar
on 14/12/2017, 16:20:57 UTC
Historically, ripple usually pumps just before they release another billion ripple onto the market. It's usually associated with more ripple posts on various forums. It's one of those strange coincidences you often see associated with this corporate coin.
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Board Altcoin Discussion
Re: Quantum computer will kill bitcoin
by
shyliar
on 12/12/2017, 14:47:35 UTC
Quantum computing means no password in the world will be safe. It will be able to brute force and crack passwords for almost anything. Bitcoin will be the least of your worries when someone breaks into government accounts and steals all the money in the world. Bitcoin is such a small piece of the world's money for now.

Stop spreading fear and anxiety. Quantum computers might not come in our lifetime.


Completely agree with this. No financial system will be safe (wall street or banks) based on current technology usage. The military wouldn't be safe.
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Board Altcoin Discussion
Re: ETH and LTC which is valuable ?
by
shyliar
on 12/12/2017, 14:38:53 UTC
It's important when discussing ETH to differentiate between Ethereum the Platform and ETH the token. It seems that many investors don't understand that these are two different things.

Ethereum the platform definitely has value. It's a package that uses a blockchain (The public one generally is not used) for a database instead of more traditional databases. It might have uses where multiple companies need a common database that is decentralized for tracking purposes. These will be private blockchains; although, in some cases the public might havelimited access at a read only level. Unfortunately, when you buy ETH the token you don't own a piece of this potentially useful plateform.

ETH is a public token created by the Ethereum Platform. The ETH network has demonstrated that it is of limited use and not capable of living up to the hype. Technically, it's just not possible to run 100s of DAPPS on a decentralized system. The ETH network runs 1000s of times slower than a cell phone processor. The problem has been demonstrated during ICOs and more recently the Virtual Kittys DAPP clogging the memory pool. Imagine if several popular DAPPS being used worldwide 24/7 were developed. The ETH network would be a complete failure. We have all experienced problems with applications connected to centralized systems failing due to server load, these servers are fast and still can't keep up during peak usage. The ETH network will never keep up.

The fact is that decentralized systems are extremely slow. These types of systems might be able to do one function well; but, not multiple functions. For example they might be able to be money. It's already clear that doing a single function, like being money is difficult because of speed. That's why scaling issues exist and are such a hot topic in the cryptocurrency community.

These scaling issues suggest that multiple complementary coins will be part of the scaling solution. The solution will also include small blocksize increases within limitations of a decentralized network and second layers that use blockchains like LTC as a settlement layer.

LTC is intended to perform a single function (be money) and a single function is what a decentralized system might do well. This is a advantage as the system will not be crippled with other functions like DAPPs.

The Ethereum Platform has potential value and usefulness outside of cryptocurrency; unfortunately, that is owned and controlled by the Ethereum foundation and the public can't own a piece of that. ETH the public network isn't capable of performing multiple functions on the scale required to support multiple DAPPs. LTC as a decentralized network can perform a single function well.

Based on the above the Ethereum the Platform has potential value. ETH has little value and it's problems will continue to grow. LTC has value.
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Board Altcoin Discussion
Re: Litecoin to the moon?
by
shyliar
on 12/12/2017, 13:56:12 UTC
Charlie is just making the point that the market has ups and downs. One of the few honest people in cryptocurrency, that's why so many people like him and LTC. The critics generally are just pissed because he exposed some lie they maintain in their efforts to manipulate people and pump a coin.
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Board Altcoin Discussion
Re: Litecoin's future
by
shyliar
on 11/12/2017, 22:05:31 UTC
Litecoin was regarded as silver to Bitcoin. However, its performance is much worse than Bitcoin.

What's your view on Litecoin's future? Will it catch up or continue to underperform?

Dumb start to a thread. LTC has hugely outperformed BTC in 2017. It was true the day the OP started this thread and is even more so today.

https://www.forbes.com/sites/cbovaird/2017/12/11/litecoin-hits-latest-all-time-high-up-more-than-4000-year-to-date/?

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Board Altcoin Discussion
Re: A newbie just killed Ethereum
by
shyliar
on 08/11/2017, 16:06:54 UTC
A newbie wouldn't have been capable of doing this. The guy most likely knew what he was doing. In either case, only Parity was affected, so this is pretty much completely irrelevant to Ethereum as a whole.

You're probably right. The fact that ETH represents a system that any amateur, incompetent programmer or hacker can insert executable code into shouldn't matter to anyone.  Roll Eyes
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Board Altcoin Discussion
Re: A newbie just killed Ethereum
by
shyliar
on 08/11/2017, 13:53:05 UTC
How crazy.  I'm a big fan of Ethereum and thankfully didn't have any holdings in parity, but man, it is hard to believe a newb could destroy $100s of millions just while experimenting with some code.  

Not sure why you find it hard to believe. Ethereum is Turing complete and ETH is a public blockchain. That means anyone (amateurs, incompetent coders and hackers) can run code on the system anytime they want, even unvetted insecure code. Will happen over and over again.
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Board Altcoin Discussion
Re: A newbie just killed Ethereum
by
shyliar
on 08/11/2017, 02:54:41 UTC
I think that it will drop more once the news spreads.

It will drop especially more as the talks of a roll back and fork al la The DAO continue.

I don't think the market realizes yet that a hard fork and rollback is the only way to unlock the $120 million worth of ETH.

I agree, it's still only on the more obscure news sites. By tomorrow it will be on CNN and other more mainstream news providers.
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Board Altcoin Discussion
Re: A newbie just killed Ethereum
by
shyliar
on 07/11/2017, 23:22:17 UTC
Considering these funds represent approximately 3 times as much value in US dollars then the DAO did if this doesn't drop the value of ETH back to 6 dollars investors are just stupid.

There is a reason that coins like bitcoin, litecoin and others are not turing complete. You just can't have codeable contracts integrated into something of value, unless you're comfortable with the possibility of losing your entire investment every now and again.
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Board Altcoin Discussion
Re: Bitcoin Gold is next to Bitcoin
by
shyliar
on 24/10/2017, 22:37:15 UTC
Instead of buying altcoin you should consider buying Bitcoin Gold. I read some article saying that BTG is easier to mine and have the potencial to be the next bitcoin. Big computer company is now talking about Bitcoin Gold. Buy now while its cheap.

Easier to mine is great except it really means the network is less secure. Security is an important aspect of a coins value.
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Board Altcoin Discussion
Re: Ripple says it has $15bn war chest
by
shyliar
on 13/10/2017, 17:14:19 UTC
"using its blockchain technology to move large sums of money across borders." I've noticed in various articles when they present it in those terms, they mean not using XRP just technology that ripple developed.

Banks just aren't interested in public chains, This has been demonstrated in both XRPs case and Ethereum. Doesn't stop people using this type of information to pump either ETH or XRP. The public chains basically represent free money to ripple and the Ethereum Foundation.
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Board Altcoin Discussion
Re: real estate blockchain
by
shyliar
on 10/10/2017, 12:25:38 UTC
Here's an article outlining an ICO based on real estate.

https://www.sec.gov/news/press-release/2017-185-0
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Board Altcoin Discussion
Re: How many bought ETH just to join an ICO ?
by
shyliar
on 28/09/2017, 16:51:58 UTC
i would say the main catalyst for bitcoin's rise this year was people buying bitcoin to buy ethereum to buy icos.

if there hadn't have been any icos then bitcoin would be half or less of its current price and ethereum would be 20-30 bucks.

I think you're right. Although since ETH hasn't produced a single popular DAPP or been adopted by anyone of importance the price might have remained even lower.
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Board Altcoin Discussion
Re: Sorry me, but it Very important information about litecoin (LTC)
by
shyliar
on 27/09/2017, 23:22:34 UTC
I've never been a big litecoin fan.

It has  a big community, but that's about it. Nothing special in my opinion.
It will not help you to sell you's LTC with proffit.
Only Charlie Lee have rights to sell LTC.
https://poloniex.com/exchange#btc_ltc

Nothing special on LTC? Did a successful segwit earlier than BTC. Did a successful LN that will be possibly copied by BTC. Faster transaction plus lower fees. And yet LTC is still nothing special to you.  Cheesy Cheesy Cheesy

Successful atomic swaps with Decred, Vertcoin and Bitcoin in the past week as well. Third major release by the developers this year just finished up. You can download it for testing. Final release in a few weeks.
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Board Service Discussion (Altcoins)
Re: [Trusted ICO Reviews&Ratings] Which sources of ICO ratings do you trust and why?
by
shyliar
on 26/09/2017, 09:54:54 UTC
One thing that sends a red flag is when they email me about the ICO. This forum was hacked years ago and all the users email addresses were stolen at that time. I use multiple email addresses and it's obvious what I receive from senders who have purchased that list.

Frankly any ICO that's purchasing email addresses from a stolen list I don't even read the whitepaper.
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Board Altcoin Discussion
Re: why not everybody sell their bitcoin and buy etherium instead
by
shyliar
on 22/09/2017, 12:17:13 UTC
Etherium is a better coin since it also has the smart contract feature. There is nothing that you can do with bitcoin but you cant with etherium. So why not all people sell their bitcoin and buy etherium.

I suggest to read up on the reasons why Satoshi designed Bitcoin to not be turing complete. It's interesting information, will teach you a little about security and help you understand why so many hacks happen with various software packages. The number one reason is security.

You may have also noticed that as a decentralized system that ETH is a complete failure in living up to the hype. It was pumped as the "world super computer" that could do everything from issue ICOs, DAPPS, useful for businesses, smart contracts for banks and lawyers. The reason it's not capable of doing all this is as a decentralized system it's 1000s of times slower than the processor in my cell phone. Just think how single ICOs have totally bogged down the entire network, then imagine what would happen if a single popular DAPP was ever created (there are no popular ones in existence currently) that was used by the world population 24/7. The ETH network would be incapable of handling two popular DAPPs. The fact is a decentralized network is not able to do everything; but, might be able to do one thing well like function as money. The scaling debate for all decentralized coins demonstrate that even doing one thing  well is difficult. Ethereum the platform might be useful for private chains; but, when you buy ETH the public token you're not getting a piece of that.

Bitcoin is getting smart contracts on side chains. This means the turing complete chain is one step removed from the money chain. Keeping the money chain safe needs to be the first priority.
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Board Altcoin Discussion
Good read for those interested in buying into an ICO
by
shyliar
on 20/09/2017, 22:12:33 UTC
Good article by Ray Dillinger about the current state of cryptocurrency and ICOs. Ray was involved in code review and security auditing of the block chain portion of the Bitcoin source code for Satoshi Nakamoto. Interesting to read a little about that history too.

Two things brought up that are really worth paying attention to:

The author lays out some ground rules for doing due diligence if buying in. If you're not following the guidelines mentioned at least acknowledge you're being a fool as you part with your money.

The second thing is more interesting to those creating ICOs. He mentions some of the similar digital currencies created before bitcoin and how people ended up in prison. He notes how many of the current ICOs are following the same path. At least take the time to read so you know where your heading.

https://www.linkedin.com/pulse/id-known-what-we-were-starting-ray-dillinger

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Board Altcoin Discussion
Re: Litecoin is officially dead
by
shyliar
on 19/09/2017, 22:42:27 UTC
Here's an interesting fact. The litecoin subreddit took from a little over 5 1/2 years to reach 30,000 members (as of June 6th 2017). At the current rate of increase in membership, it will reach 60,000 members before the end of September. Doubling membership in just under four months.

http://redditmetrics.com/r/litecoin

Seems like some folks are very interested. This is also demonstrated in the large increase in transactions, 11 times the network hashrate and 1400 percent increase in value in the past 6 months. Despite all this interest some people are still expressing their opinions from 2013. Guess it's tough to keep up.

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Board Altcoin Discussion
Re: Litecoin is officially dead
by
shyliar
on 19/09/2017, 22:02:33 UTC
Litecoin should be dead in my opinion when Charlie Lee announced that stupid rumour China was banning cryptocurrency, I dont know why but I have a very bad negative vision of him since that tweet, guess he was right as China officially said earlier today that bitcoin is a threat to banks in China, I had invested in ltc a while ago but my hopes in that coin are gone, I would rather invest in the gold(btc) or silver (ethereum) and not bronze for that matter!

Yes, that's a real piss off when people tweet facts. Roll Eyes

Much better when they flood the forum about meaningless ICOs.  Shocked