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Swedish Auction site hired me to transfer their buyer's money scam? (someone smack me and tell me I'm a dumbass)

SITE - Auktion A Swedish auction site.
INFO THEY SENT ME- Here
Hi, I was approached via job site by a Swedish auction site called Auktion SE to be an escrow agent. An escrow agent is a third party that holds large amounts of money during an item's sale until the item arrives where it's supposed to go.
Here is essentially what my new supervisor told me. Their auction site offers the buyer and the seller the option to use any form of money sending platform they would like. Paypal, bitcoin, western union, Moneygram, you name it. It's then my job to take that potentially large sum of money to a bank in my city and transfer it into the form of money chosen by the seller. Buyer sends money one way, I transfer it so I can send it to the seller once the item arrives.
It's all work-from-home so I have only been in contact with my supervisors via phone and email. Taking sums of money from bank to bank every day seems fishy, even though legally I can't see any issues.
Has anyone heard of anything like this before? Is this the most elaborate scam ever?
**Okay guys, this is 99.9999 a scam. The woman who contacted me is using an email "@aukttion" with two t's. My fiance pointed out that the website might be legit as well as the woman's Instagram page, however, the supervisor who contacted me is the one running the scam.
Anyone know about this?
submitted by StreetratMatt to Scams [link] [comments]

First timing using Alibaba for my online startup, supplier has a few payment conditions that might be “red flags”

Hi guys I’m looking to import a particular product sourced from Alibaba. The supplier is based in Bulgaria. Since this is my first time sourcing and buying I want to avoid loosing money.
The supplier is “6 years paid supplier” and a Gold Supplier. However, there’s a few things that I noticed that are catching me a bit off guard about the supplier:
The supplier offered to provide Bill of Laden for shipping first and draft a refund policy contract prior to me paying. Is this a legit way to stay protected or just a smart way for the supplier to scam me?
Supplier said they use DHL or FedEx or UPS which is a positive.
For far are the red flags screaming this is a scam or is it normal behaviour of suppliers on alibaba? I want to trust the supplier and don’t want to ruin the start of a possible long term relationship, but don’t want to be scammed either.
Cheers everyone for your help! Really appreciate it
submitted by kb17_ to Entrepreneur [link] [comments]

Which are your Top 5 favourite coins out of the Top 100? An analysis.

I am putting together my investment portfolio for 2018 and made a complete summary of the current Top 100. Interestingly, I noticed that all coins can be categorized into 12 markets. Which markets do you think will play the biggest role in the coming year?
Here is a complete overview of all coins in an excel sheet including name, market, TPS, risk profile, time since launch (negative numbers mean that they are launching that many months in the future) and market cap. You can also sort by all of these fields of course. Coins written in bold are the strongest contenders within their market either due to having the best technology or having a small market cap and still excellent technology and potential. https://docs.google.com/spreadsheets/d/1s8PHcNvvjuy848q18py_CGcu8elRGQAUIf86EYh4QZo/edit#gid=0
The 12 markets are
  1. Currency 13 coins
  2. Platform 25 coins
  3. Ecosystem 9 coins
  4. Privacy 10 coins
  5. Currency Exchange Tool 8 coins
  6. Gaming & Gambling 5 coins
  7. Misc 15 coins
  8. Social Network 4 coins
  9. Fee Token 3 coins
  10. Decentralized Data Storage 4 coins
  11. Cloud Computing 3 coins
  12. Stable Coin 2 coins
Before we look at the individual markets, we need to take a look of the overall market and its biggest issue scalability first:
Cryptocurrencies aim to be a decentralized currency that can be used worldwide. Its goal is to replace dollar, Euro, Yen, all FIAT currencies worldwide. The coin that will achieve that will be worth several trillion dollars.
Bitcoin can only process 7 transactions per second (TPS). In order to replace all FIAT, it would need to perform at at least VISA levels, which usually processes around 3,000 TPS, up to 25,000 TPS during peak times and a maximum of 64,000 TPS. That means that this cryptocurrency would need to be able to perform at least several thousand TPS. However, a ground breaking technology should not look at current technology to set a goal for its use, i.e. estimating the number of emails sent in 1990 based on the number of faxes sent wasn’t a good estimate.
For that reason, 10,000 TPS is the absolute baseline for a cryptocurrency that wants to replace FIAT. This brings me to IOTA, which wants to connect all 80 billion IoT devices that are expected to exist by 2025, which constantly communicate with each other, creating 80 billion or more transactions per second. This is the benchmark that cryptocurrencies should be aiming for. Currently, 8 billion devices are connected to the Internet.
With its Lightning network recently launched, Bitcoin is realistically looking at 50,000 possible soon. Other notable cryptocurrencies besides IOTA and Bitcoin are Nano with 7,000 TPS already tested, Dash with several billion TPS possible with Masternodes, Neo, LISK and RHOC with 100,000 TPS by 2020, Ripple with 50,000 TPS, Ethereum with 10,000 with Sharding.
However, it needs to be said that scalability usually goes at the cost of decentralization and security. So, it needs to be seen, which of these technologies can prove itself resilient and performant.
Without further ado, here are the coins of the first market

Market 1 - Currency:

  1. Bitcoin: 1st generation blockchain with currently bad scalability currently, though the implementation of the Lightning Network looks promising and could alleviate most scalability concerns, scalability and high energy use.
  2. Ripple: Centralized currency that might become very successful due to tight involvement with banks and cross-border payments for financial institutions; banks and companies like Western Union and Moneygram (who they are currently working with) as customers customers. However, it seems they are aiming for more decentralization now.https://ripple.com/dev-blog/decentralization-strategy-update/. Has high TPS due to Proof of Correctness algorithm.
  3. Bitcoin Cash: Bitcoin fork with the difference of having an 8 times bigger block size, making it 8 times more scalable than Bitcoin currently. Further block size increases are planned. Only significant difference is bigger block size while big blocks lead to further problems that don't seem to do well beyond a few thousand TPS. Opponents to a block size argue that increasing the block size limit is unimaginative, offers only temporary relief, and damages decentralization by increasing costs of participation. In order to preserve decentralization, system requirements to participate should be kept low. To understand this, consider an extreme example: very big blocks (1GB+) would require data center level resources to validate the blockchain. This would preclude all but the wealthiest individuals from participating.Community seems more open than Bitcoin's though.
  4. Litecoin : Little brother of Bitcoin. Bitcoin fork with different mining algorithm but not much else.Copies everything that Bitcoin does pretty much. Lack of real innovation.
  5. Dash: Dash (Digital Cash) is a fork of Bitcoin and focuses on user ease. It has very fast transactions within seconds, low fees and uses Proof of Service from Masternodes for consensus. They are currently building a system called Evolution which will allow users to send money using usernames and merchants will find it easy to integrate Dash using the API. You could say Dash is trying to be a PayPal of cryptocurrencies. Currently, cryptocurrencies must choose between decentralization, speed, scalability and can pick only 2. With Masternodes, Dash picked speed and scalability at some cost of decentralization, since with Masternodes the voting power is shifted towards Masternodes, which are run by Dash users who own the most Dash.
  6. IOTA: 3rd generation blockchain called Tangle, which has a high scalability, no fees and instant transactions. IOTA aims to be the connective layer between all 80 billion IOT devices that are expected to be connected to the Internet in 2025, possibly creating 80 billion transactions per second or 800 billion TPS, who knows. However, it needs to be seen if the Tangle can keep up with this scalability and iron out its security issues that have not yet been completely resolved.
  7. Nano: 3rd generation blockchain called Block Lattice with high scalability, no fees and instant transactions. Unlike IOTA, Nano only wants to be a payment processor and nothing else, for now at least. With Nano, every user has their own blockchain and has to perform a small amount of computing for each transaction, which makes Nano perform at 300 TPS with no problems and 7,000 TPS have also been tested successfully. Very promising 3rd gen technology and strong focus on only being the fastest currency without trying to be everything.
  8. Decred: As mining operations have grown, Bitcoin’s decision-making process has become more centralized, with the largest mining companies holding large amounts of power over the Bitcoin improvement process. Decred focuses heavily on decentralization with their PoW Pos hybrid governance system to become what Bitcoin was set out to be. They will soon implement the Lightning Network to scale up. While there do not seem to be more differences to Bitcoin besides the novel hybrid consensus algorithm, which Ethereum, Aeternity and Bitcoin Atom are also implementing, the welcoming and positive Decred community and professoinal team add another level of potential to the coin.
  9. Aeternity: We’ve seen recently, that it’s difficult to scale the execution of smart contracts on the blockchain. Crypto Kitties is a great example. Something as simple as creating and trading unique assets on Ethereum bogged the network down when transaction volume soared. Ethereum and Zilliqa address this problem with Sharding. Aeternity focuses on increasing the scalability of smart contracts and dapps by moving smart contracts off-chain. Instead of running on the blockchain, smart contracts on Aeternity run in private state channels between the parties involved in the contracts. State channels are lines of communication between parties in a smart contract. They don’t touch the blockchain unless they need to for adjudication or transfer of value. Because they’re off-chain, state channel contracts can operate much more efficiently. They don’t need to pay the network for every time they compute and can also operate with greater privacy. An important aspect of smart contract and dapp development is access to outside data sources. This could mean checking the weather in London, score of a football game, or price of gold. Oracles provide access to data hosted outside the blockchain. In many blockchain projects, oracles represent a security risk and potential point of failure, since they tend to be singular, centralized data streams. Aeternity proposes decentralizing oracles with their oracle machine. Doing so would make outside data immutable and unchangeable once it reaches Aeternity’s blockchain. Of course, the data source could still be hacked, so Aeternity implements a prediction market where users can bet on the accuracy and honesty of incoming data from various oracles.It also uses prediction markets for various voting and verification purposes within the platform. Aeternity’s network runs on on a hybrid of proof of work and proof of stake. Founded by a long-time crypto-enthusiast and early colleague of Vitalik Buterin, Yanislav Malahov. Promising concept though not product yet
  10. Bitcoin Atom: Atomic Swaps and hybrid consenus. This looks like the only Bitcoin clone that actually is looking to innovate next to Bitcoin Cash.
  11. Dogecoin: Litecoin fork, fantastic community, though lagging behind a bit in technology.
  12. Bitcoin Gold: A bit better security than bitcoin through ASIC resistant algorithm, but that's it. Not that interesting.
  13. Digibyte: Digibyte's PoS blockchain is spread over a 100,000+ servers, phones, computers, and nodes across the globe, aiming for the ultimate level of decentralization. DigiByte rebalances the load between the five mining algorithms by adjusting the difficulty of each so one algorithm doesn’t become dominant. The algorithm's asymmetric difficulty has gained notoriety and been deployed in many other blockchains.DigiByte’s adoption over the past four years has been slow. It’s still a relatively obscure currency compared its competitors. The DigiByte website offers a lot of great marketing copy and buzzwords. However, there’s not much technical information about what they have planned for the future. You could say Digibyte is like Bitcoin, but with shorter blocktimes and a multi-algorithm. However, that's not really a difference big enough to truly set themselves apart from Bitcoin, since these technologies could be implemented by any blockchain without much difficulty. Their decentralization is probably their strongest asset, however, this also change quickly if the currency takes off and big miners decide to go into Digibyte.
  14. Bitcoin Diamond Asic resistant Bitcoin and Copycat

Market 2 - Platform

Most of the cryptos here have smart contracts and allow dapps (Decentralized apps) to be build on their platform and to use their token as an exchange of value between dapp services.
  1. Ethereum: 2nd generation blockchain that allows the use of smart contracts. Bad scalability currently, though this concern could be alleviated by the soon to be implemented Lightning Network aka Plasma and its Sharding concept.
  2. EOS: Promising technology that wants to be able do everything, from smart contracts like Ethereum, scalability similar to Nano with 1000 tx/second + near instant transactions and zero fees, to also wanting to be a platform for dapps. However, EOS doesn't have a product yet and everything is just promises still. Highly overvalued right now. However, there are lots of red flags, have dumped $500 million Ether over the last 2 months and possibly bought back EOS to increase the size of their ICO, which has been going on for over a year and has raised several billion dollars. All in all, their market cap is way too high for that and not even having a product.
  3. Cardano: Similar to Ethereum/EOS, however, only promises made with no delivery yet, highly overrated right now. Interesting concept though. Market cap way too high for not even having a product. Somewhat promising technology.
  4. VeChain: Singapore-based project that’s building a business enterprise platform and inventory tracking system. Examples are verifying genuine luxury goods and food supply chains. Has one of the strongest communities in the crypto world. Most hyped token of all, with merit though.
  5. Neo: Neo is a platform, similar to Eth, but more extensive, allowing dapps and smart contracts, but with a different smart contract gas system, consensus mechanism (PoS vs. dBfT), governance model, fixed vs unfixed supply, expensive contracts vs nearly free contracts, different ideologies for real world adoption. There are currently only 9 nodes, each of which are being run by a company/entity hand selected by the NEO council (most of which are located in china) and are under contract. This means that although the locations of the nodes may differ, ultimately the neo council can bring them down due to their legal contracts. In fact this has been done in the past when the neo council was moving 50 million neo that had been locked up. Also dbft (or neo's implmentation of it) has failed underload causing network outages during major icos. The first step in decentralization is that the NEO Counsel will select trusted nodes (Universities, business partners, etc.) and slowly become less centralized that way. The final step in decentralization will be allowing NEO holders to vote for new nodes, similar to a DPoS system (ARK/EOS/LISK). NEO has a regulation/government friendly ideology. Finally they are trying to work undewith the Chinese government in regards to regulations. If for some reason they wanted it shut down, they could just shut it down.
  6. Stellar: PoS system, similar goals as Ripple, but more of a platform than only a currency. 80% of Stellar are owned by Stellar.org still, making the currency centralized.
  7. Ethereum classic: Original Ethereum that decided not to fork after a hack. The Ethereum that we know is its fork. Uninteresing, because it has a lot of less resources than Ethereum now and a lot less community support.
  8. Ziliqa: Zilliqa is building a new way of sharding. 2400 tpx already tested, 10,000 tps soon possible by being linearly scalable with the number of nodes. That means, the more nodes, the faster the network gets. They are looking at implementing privacy as well.
  9. QTUM: Enables Smart contracts on the Bitcoin blockchain. Useful.
  10. Icon: Korean ethereum. Decentralized application platform that's building communities in partnership with banks, insurance providers, hospitals, and universities. Focused on ID verification and payments. No big differentiators to the other 20 Ethereums, except that is has a product. That is a plus. Maybe cheap alternative to Ethereum.
  11. LISK: Lisk's difference to other BaaS is that side chains are independent to the main chain and have to have their own nodes. Similar to neo whole allows dapps to deploy their blockchain to. However, Lisk is currently somewhat centralized with a small group of members owning more than 50% of the delegated positions. Lisk plans to change the consensus algorithm for that reason in the near future.
  12. Rchain: Similar to Ethereum with smart contract, though much more scalable at an expected 40,000 TPS and possible 100,000 TPS. Not launched yet. No product launched yet, though promising technology. Not overvalued, probably at the right price right now.
  13. ARDR: Similar to Lisk. Ardor is a public blockchain platform that will allow people to utilize the blockchain technology of Nxt through the use of child chains. A child chain, which is a ‘light’ blockchain that can be customized to a certain extent, is designed to allow easy self-deploy for your own blockchain. Nxt claims that users will "not need to worry" about security, as that part is now handled by the main chain (Ardor). This is the chief innovation of Ardor. Ardor was evolved from NXT by the same company. NEM started as a NXT clone.
  14. Ontology: Similar to Neo. Interesting coin
  15. Bytom: Bytom is an interactive protocol of multiple byte assets. Heterogeneous byte-assets (indigenous digital currency, digital assets) that operate in different forms on the Bytom Blockchain and atomic assets (warrants, securities, dividends, bonds, intelligence information, forecasting information and other information that exist in the physical world) can be registered, exchanged, gambled and engaged in other more complicated and contract-based interoperations via Bytom.
  16. Nxt: Similar to Lisk
  17. Stratis: Different to LISK, Stratis will allow businesses and organizations to create their own blockchain according to their own needs, but secured on the parent Stratis chain. Stratis’s simple interface will allow organizations to quickly and easily deploy and/or test blockchain functionality of the Ethereum, BitShares, BitCoin, Lisk and Stratis environements.
  18. Status: Status provides access to all of Ethereum’s decentralized applications (dapps) through an app on your smartphone. It opens the door to mass adoption of Ethereum dapps by targeting the fastest growing computer segment in the world – smartphone users.16. Ark: Fork of Lisk that focuses on a smaller feature set. Ark wallets can only vote for one delegate at a time which forces delegates to compete against each other and makes cartel formations incredibly hard, if not impossible.
  19. Neblio: Similar to Neo, but 30x smaller market cap.
  20. NEM: Is similar to Neo No marketing team, very high market cap for little clarilty what they do.
  21. Bancor: Bancor is a Decentralized Liquidity Network that allows you to hold any Ethereum token and convert it to any other token in the network, with no counter party, at an automatically calculated price, using a simple web wallet.
  22. Dragonchain: The Purpose of DragonChain is to help companies quickly and easily incorporate blockchain into their business applications. Many companies might be interested in making this transition because of the benefits associated with serving clients over a blockchain – increased efficiency and security for transactions, a reduction of costs from eliminating potential fraud and scams, etc.
  23. Skycoin: Transactions with zero fees that take apparently two seconds, unlimited transaction rate, no need for miners and block rewards, low power usage, all of the usual cryptocurrency technical vulnerabilities fixed, a consensus mechanism superior to anything that exists, resistant to all conceivable threats (government censorship, community infighting, cybenucleaconventional warfare, etc). Skycoin has their own consensus algorithm known as Obelisk written and published academically by an early developer of Ethereum. Obelisk is a non-energy intensive consensus algorithm based on a concept called ‘web of trust dynamics’ which is completely different to PoW, PoS, and their derivatives. Skywire, the flagship application of Skycoin, has the ambitious goal of decentralizing the internet at the hardware level and is about to begin the testnet in April. However, this is just one of the many facets of the Skycoin ecosystem. Skywire will not only provide decentralized bandwidth but also storage and computation, completing the holy trinity of commodities essential for the new internet. Skycion a smear campaign launched against it, though they seem legit and reliable. Thus, they are probably undervalued.

Market 3 - Ecosystem

The 3rd market with 11 coins is comprised of ecosystem coins, which aim to strengthen the ease of use within the crypto space through decentralized exchanges, open standards for apps and more
  1. Nebulas: Similar to how Google indexes webpages Nebulas will index blockchain projects, smart contracts & data using the Nebulas rank algorithm that sifts & sorts the data. Developers rewarded NAS to develop & deploy on NAS chain. Nebulas calls this developer incentive protocol – basically rewards are issued based on how often dapp/contract etc. is used, the more the better the rewards and Proof of devotion. Works like DPoS except the best, most economically incentivised developers (Bookkeeppers) get the forging spots. Ensuring brains stay with the project (Cross between PoI & PoS). 2,400 TPS+, DAG used to solve the inter-transaction dependencies in the PEE (Parallel Execution Environment) feature, first crypto Wallet that supports the Lightening Network.
  2. Waves: Decentralized exchange and crowdfunding platform. Let’s companies and projects to issue and manage their own digital coin tokens to raise money.
  3. Salt: Leveraging blockchain assets to secure cash loands. Plans to offer cash loans in traditional currencies, backed by your cryptocurrency assets. Allows lenders worldwide to skip credit checks for easier access to affordable loans.
  4. CHAINLINK: ChainLink is a decentralized oracle service, the first of its kind. Oracles are defined as an ‘agent’ that finds and verifies real-world occurrences and submits this information to a blockchain to be used in smart contracts.With ChainLink, smart contract users can use the network’s oracles to retrieve data from off-chain application program interfaces (APIs), data pools, and other resources and integrate them into the blockchain and smart contracts. Basically, ChainLink takes information that is external to blockchain applications and puts it on-chain. The difference to Aeternity is that Chainlink deploys the smart contracts on the Ethereum blockchain while Aeternity has its own chain.
  5. WTC: Combines blockchain with IoT to create a management system for supply chains Interesting
  6. Ethos unifyies all cryptos. Ethos is building a multi-cryptocurrency phone wallet. The team is also building an investment diversification tool and a social network
  7. Aion: Aion is the token that pays for services on the Aeternity platform.
  8. USDT: is no cryptocurrency really, but a replacement for dollar for trading After months of asking for proof of dollar backing, still no response from Tether.

Market 4 - Privacy

The 4th market are privacy coins. As you might know, Bitcoin is not anonymous. If the IRS or any other party asks an exchange who is the identity behind a specific Bitcoin address, they know who you are and can track back almost all of the Bitcoin transactions you have ever made and all your account balances. Privacy coins aim to prevent exactly that through address fungability, which changes addresses constantly, IP obfuscation and more. There are 2 types of privacy coins, one with completely privacy and one with optional privacy. Optional Privacy coins like Dash and Nav have the advantage of more user friendliness over completely privacy coins such as Monero and Enigma.
  1. Monero: Currently most popular privacy coin, though with a very high market cap. Since their privacy is all on chain, all prior transactions would be deanonymized if their protocol is ever cracked. This requires a quantum computing attack though. PIVX is better in that regard.
  2. Zcash: A decentralized and open-source cryptocurrency that hide the sender, recipient, and value of transactions. Offers users the option to make transactions public later for auditing. Decent privacy coin, though no default privacy
  3. Verge: Calls itself privacy coin without providing private transactions, multiple problems over the last weeks has a toxic community, and way too much hype for what they have.
  4. Bytecoin: First privacy-focused cryptocurrency with anonymous transactions. Bytecoin’s code was later adapted to create Monero, the more well-known anonymous cryptocurrency. Has several scam accusations, 80% pre-mine, bad devs, bad tech
  5. Bitcoin Private: A merge fork of Bitcoin and Zclassic with Zclassic being a fork of Zcash with the difference of a lack of a founders fee required to mine a valid block. This promotes a fair distribution, preventing centralized coin ownership and control. Bitcoin private offers the optional ability to keep the sender, receiver, and amount private in a given transaction. However, this is already offered by several good privacy coins (Monero, PIVX) and Bitcoin private doesn't offer much more beyond this.
  6. Komodo: The Komodo blockchain platform uses Komodo’s open-source cryptocurrency for doing transparent, anonymous, private, and fungible transactions. They are then made ultra-secure using Bitcoin’s blockchain via a Delayed Proof of Work (dPoW) protocol and decentralized crowdfunding (ICO) platform to remove middlemen from project funding. Offers services for startups to create and manage their own Blockchains.
  7. PIVX: As a fork of Dash, PIVX uses an advanced implementation of the Zerocoin protocol to provide it’s privacy. This is a form of zeroknowledge proofs, which allow users to spend ‘Zerocoins’ that have no link back to them. Unlike Zcash u have denominations in PIVX, so they can’t track users by their payment amount being equal to the amount of ‘minted’ coins, because everyone uses the same denominations. PIVX is also implementing Bulletproofs, just like Monero, and this will take care of arguably the biggest weakness of zeroknowledge protocols: the trusted setup.
  8. Zcoin: PoW cryptocurrency. Private financial transactions, enabled by the Zerocoin Protocol. Zcoin is the first full implementation of the Zerocoin Protocol, which allows users to have complete privacy via Zero-Knowledge cryptographic proofs.
  9. Enigma: Monero is to Bitcoin what enigma is to Ethereum. Enigma is for making the data used in smart contracts private. More of a platform for dapps than a currency like Monero. Very promising.
  10. Navcoin: Like bitcoin but with added privacy and pos and 1,170 tps, but only because of very short 30 second block times. Though, privacy is optional, but aims to be more user friendly than Monero. However, doesn't really decide if it wants to be a privacy coin or not. Same as Zcash.Strong technology, non-shady team.
  11. Tenx: Raised 80 million, offers cryptocurrency-linked credit cards that let you spend virtual money in real life. Developing a series of payment platforms to make spending cryptocurrency easier. However, the question is if full privacy coins will be hindered in growth through government regulations and optional privacy coins will become more successful through ease of use and no regulatory hindrance.

Market 5 - Currency Exchange Tool

Due to the sheer number of different cryptocurrencies, exchanging one currency for the other it still cumbersome. Further, merchants don’t want to deal with overcluttered options of accepting cryptocurrencies. This is where exchange tool like Req come in, which allow easy and simple exchange of currencies.
  1. Cryptonex: Fiat and currency exchange between various blockchain services, similar to REQ.
  2. QASH: Qash is used to fuel its liquid platform which will be an exchange that will distribute their liquidity pool. Its product, the Worldbook is a multi-exchange order book that matches crypto to crypto, and crypto to fiat and the reverse across all currencies. E.g., someone is selling Bitcoin is USD on exchange1 not owned by Quoine and someone is buying Bitcoin in EURO on exchange 2 not owned by Quoine. If the forex conversions and crypto conversions match then the trade will go through and the Worldbook will match it, it'll make the sale and the purchase on either exchange and each user will get what they wanted, which means exchanges with lower liquidity if they join the Worldbook will be able to fill orders and take trade fees they otherwise would miss out on.They turned it on to test it a few months ago for an hour or so and their exchange was the top exchange in the world by 4x volume for the day because all Worldbook trades ran through it. Binance wants BNB to be used on their one exchange. Qash wants their QASH token embedded in all of their partners. More info here https://www.reddit.com/CryptoCurrency/comments/8a8lnwhich_are_your_top_5_favourite_coins_out_of_the/dwyjcbb/?context=3
  3. Kyber: network Exchange between cryptocurrencies, similar to REQ. Features automatic coin conversions for payments. Also offers payment tools for developers and a cryptocurrency wallet.
  4. Achain: Building a boundless blockchain world like Req .
  5. Req: Exchange between cryptocurrencies.
  6. Bitshares: Exchange between cryptocurrencies. Noteworthy are the 1.5 second average block times and throughput potential of 100,000 transactions per second with currently 2,400 TPS having been proven. However, bitshares had several Scam accusations in the past.
  7. Loopring: A protocol that will enable higher liquidity between exchanges and personal wallets.
  8. ZRX: Open standard for dapps. Open, permissionless protocol allowing for ERC20 tokens to be traded on the Ethereum blockchain. In 0x protocol, orders are transported off-chain, massively reducing gas costs and eliminating blockchain bloat. Relayers help broadcast orders and collect a fee each time they facilitate a trade. Anyone can build a relayer.

Market 6 - Gaming

With an industry size of $108B worldwide, Gaming is one of the largest markets in the world. For sure, cryptocurrencies will want to have a share of that pie.
  1. Storm: Mobile game currency on a platform with 9 million players.
  2. Fun: A platform for casino operators to host trustless, provably-fair gambling through the use of smart contracts, as well as creating their own implementation of state channels for scalability.
  3. Electroneum: Mobile game currency They have lots of technical problems, such as several 51% attacks
  4. Wax: Marketplace to trade in-game items

Market 7 - Misc

There are various markets being tapped right now. They are all summed up under misc.
  1. OMG: Omise is designed to enable financial services for people without bank accounts. It works worldwide and with both traditional money and cryptocurrencies.
  2. Power ledger: Australian blockchain-based cryptocurrency and energy trading platform that allows for decentralized selling and buying of renewable energy. Unique market and rather untapped market in the crypto space.
  3. Populous: A platform that connects business owners and invoice buyers without middlemen. Invoice sellers get cash flow to fund their business and invoice buyers earn interest. Similar to OMG, small market.
  4. Monacoin: The first Japanese cryptocurrency. Focused on micro-transactions and based on a popular internet meme of a type-written cat. This makes it similar to Dogecoin. Very niche, tiny market.
  5. Revain: Legitimizing reviews via the blockchain. Interesting concept, though market not as big.
  6. Augur: Platform to forecast and make wagers on the outcome of real-world events (AKA decentralized predictions). Uses predictions for a “wisdom of the crowd” search engine. Not launched yet.
  7. Substratum: Revolutionzing hosting industry via per request billing as a decentralized internet hosting system. Uses a global network of private computers to create the free and open internet of the future. Participants earn cryptocurrency. Interesting concept.
  8. Veritaseum: Is supposed to be a peer to peer gateway, though it looks like very much like a scam.
  9. TRON: Tronix is looking to capitalize on ownership of internet data to content creators. However, they plagiarized their white paper, which is a no go. They apologized, so it needs to be seen how they will conduct themselves in the future. Extremely high market cap for not having a product, nor proof of concept.
  10. Syscoin: A cryptocurrency with a decentralized marketplace that lets people buy and sell products directly without third parties. Trying to remove middlemen like eBay and Amazon.
  11. Hshare: Most likely scam because of no code changes, most likely pump and dump scheme, dead community.
  12. BAT: An Ethereum-based token that can be exchanged between content creators, users, and advertisers. Decentralized ad-network that pays based on engagement and attention.
  13. Dent: Decentralizeed exchange of mobile data, enabling mobile data to be marketed, purchased or distributed, so that users can quickly buy or sell data from any user to another one.
  14. Ncash: End to end encrypted Identification system for retailers to better serve their customers .
  15. Factom Secure record-keeping system that allows companies to store their data directly on the Blockchain. The goal is to make records more transparent and trustworthy .

Market 8 - Social network

Web 2.0 is still going strong and Web 3.0 is not going to ignore it. There are several gaming tokens already out there and a few with decent traction already, such as Steem, which is Reddit with voting through money is a very interesting one.
  1. Mithril: As users create content via social media, they will be rewarded for their contribution, the better the contribution, the more they will earn
  2. Steem: Like Reddit, but voting with money. Already launched product and Alexa rank 1,000 Thumbs up.
  3. Rdd: Reddcoin makes the process of sending and receiving money fun and rewarding for everyone. Reddcoin is dedicated to one thing – tipping on social networks as a way to bring cryptocurrency awareness and experience to the general public.
  4. Kin: Token for the platform Kik. Kik has a massive user base of 400 million people. Replacing paying with FIAT with paying with KIN might get this token to mass adoption very quickly.

Market 9 - Fee token

Popular exchanges realized that they can make a few billion dollars more by launching their own token. Owning these tokens gives you a reduction of trading fees. Very handy and BNB (Binance Coin) has been one of the most resilient tokens, which have withstood most market drops over the last weeks and was among the very few coins that could show growth.
  1. BNB: Fee token for Binance
  2. Gas: Not a Fee token for an exchange, but it is a dividend paid out on Neo and a currency that can be used to purchase services for dapps.
  3. Kucoin: Fee token for Kucoin

Market 10 - Decentralized Data Storage

Currently, data storage happens with large companies or data centers that are prone to failure or losing data. Decentralized data storage makes loss of data almost impossible by distributing your files to numerous clients that hold tiny pieces of your data. Remember Torrents? Torrents use a peer-to-peer network. It is similar to that. Many users maintain copies of the same file, when someone wants a copy of that file, they send a request to the peer-to-peer network., users who have the file, known as seeds, send fragments of the file to the requester., he requester receives many fragments from many different seeds, and the torrent software recompiles these fragments to form the original file.
  1. Gbyte: Byteball data is stored and ordered using directed acyclic graph (DAG) rather than blockchain. This allows all users to secure each other's data by referencing earlier data units created by other users, and also removes scalability limits common for blockchains, such as blocksize issue.
  2. Siacoin: Siacoin is decentralized storage platform. Distributes encrypted files to thousands of private users who get paid for renting out their disk space. Anybody with siacoins can rent storage from hosts on Sia. This is accomplish via "smart" storage contracts stored on the Sia blockchain. The smart contract provides a payment to the host only after the host has kept the file for a given amount of time. If the host loses the file, the host does not get paid.
  3. Maidsafecoin: MaidSafe stands for Massive Array of Internet Disks, Secure Access for Everyone.Instead of working with data centers and servers that are common today and are vulnerable to data theft and monitoring, SAFE’s network uses advanced P2P technology to bring together the spare computing capacity of all SAFE users and create a global network. You can think of SAFE as a crowd-sourced internet. All data and applications reside in this network. It’s an autonomous network that automatically sets prices and distributes data and rents out hard drive disk space with a Blockchain-based storage solutions.When you upload a file to the network, such as a photo, it will be broken into pieces, hashed, and encrypted. The data is then randomly distributed across the network. Redundant copies of the data are created as well so that if someone storing your file turns off their computer, you will still have access to your data. And don’t worry, even with pieces of your data on other people’s computers, they won’t be able to read them. You can earn MadeSafeCoins by participating in storing data pieces from the network on your computer and thus earning a Proof of Resource.
  4. Storj: Storj aims to become a cloud storage platform that can’t be censored or monitored, or have downtime. Your files are encrypted, shredded into little pieces called 'shards', and stored in a decentralized network of computers around the globe. No one but you has a complete copy of your file, not even in an encrypted form.

Market 11 - Cloud computing

Obviously, renting computing power, one of the biggest emerging markets as of recent years, e.g. AWS and Digital Ocean, is also a service, which can be bought and managed via the blockchain.
  1. Golem: Allows easy use of Supercomputer in exchange for tokens. People worldwide can rent out their computers to the network and get paid for that service with Golem tokens.
  2. Elf: Allows easy use of Cloud computing in exchange for tokens.

Market 12 - Stablecoin

Last but not least, there are 2 stablecoins that have established themselves within the market. A stable coin is a coin that wants to be independent of the volatility of the crypto markets. This has worked out pretty well for Maker and DGD, accomplished through a carefully diversified currency fund and backing each token by 1g or real gold respectively. DO NOT CONFUSE DGD AND MAKER with their STABLE COINS DGX and DAI. DGD and MAKER are volatile, because they are the companies of DGX and DAI. DGX and DAI are the stable coins.
  1. DGD: Platform of the Stablecoin DGX. Every DGX coin is backed by 1g of gold and make use proof of asset consensus.
  2. Maker: Platform of the Stablecoin DAI that doesn't vary much in price through widespread and smart diversification of assets.
EDIT: Added a risk factor from 0 to 10. The baseline is 2 for any crypto. Significant scandals, mishaps, shady practices, questionable technology, increase the risk factor. Not having a product yet automatically means a risk factor of 6. Strong adoption and thus strong scrutiny or positive community lower the risk factor.
EDIT2: Added a subjective potential factor from 0 to 10, where its overall potential and a small or big market cap is factored in. Bitcoin with lots of potential only gets a 9, because of its massive market cap, because if Bitcoin goes 10x, smaller coins go 100x, PIVX gets a 10 for being as good as Monero while carrying a 10x smaller market cap, which would make PIVX go 100x if Monero goes 10x.
submitted by galan77 to CryptoCurrency [link] [comments]

Which are your top 5 coins out of the top100? An analysis.

I am putting together my investment portfolio for 2018 and made a complete summary of the current Top 100. Interestingly, I noticed that all coins can be categorized into 12 markets. Which markets do you think will play the biggest role in the coming year?
Here is a complete overview of all coins in an excel sheet including name, a full description, market, TPS, risk profile, time since launch (negative numbers mean that they are launching that many months in the future) and market cap. You can also sort by all of these fields of course. Coins written in bold are the strongest contenders within their market either due to having the best technology or having a small market cap and still excellent technology and potential. https://docs.google.com/spreadsheets/d/1s8PHcNvvjuy848q18py_CGcu8elRGQAUIf86EYh4QZo/edit#gid=0
The 12 markets are
  1. Currency 13 coins
  2. Platform 25 coins
  3. Ecosystem 9 coins
  4. Privacy 9 coins
  5. Currency Exchange Tool 8 coins
  6. Gaming & Gambling 4 coins
  7. Misc 15 coins
  8. Social Network 4 coins
  9. Fee Token 3 coins
  10. Decentralized Data Storage 4 coins
  11. Cloud Computing 2 coins
  12. Stable Coin 3 coins
Before we look at the individual markets, we need to take a look of the overall market and its biggest issue, scalability, first:
Cryptocurrencies aim to be a decentralized currency that can be used worldwide. Their goal is to replace dollar, Euro, Yen, all FIAT currencies globally. The coin that will achieve that will be worth several trillion dollars.
Bitcoin can only process 7 transactions per second (TPS) currently. In order to replace all FIAT, it would need to perform at least at VISA levels, which usually processes around 3,000 TPS, up to 25,000 TPS during peak times and a maximum of 64,000 TPS. That means that this cryptocurrency would need to be able to perform at least several thousand TPS. However, a ground breaking technology should not look at current technology to set a goal for its use, i.e. estimating the number of emails sent in 1990 based on the number of faxes sent wasn’t a good estimate.
For that reason, 10,000 TPS is the absolute baseline for a cryptocurrency that wants to replace FIAT. This brings me to IOTA, which wants to connect all 80 billion IoT devices that are expected to exist by 2025, which constantly communicate with each other, possibly creating 80 billion or more transactions per second. This is the benchmark that cryptocurrencies should be aiming for. Currently, 8 billion devices are connected to the Internet.
With its Lightning network recently launched, Bitcoin is realistically looking at 50,000 possible TPS soon. Other notable cryptocurrencies besides IOTA and Bitcoin are Nano with 7,000 TPS already tested, Dash with several billion TPS possible with Masternodes, Neo, LISK and RHOC with 100,000 TPS by 2020, Ripple with 50,000 TPS, Ethereum with 10,000 TPS with Sharding.
However, it needs to be said that scalability usually goes at the cost of decentralization and security. So, it needs to be seen, which of these technologies can prove themselves decentralized while maintaining high TPS.
Without further ado, here are the coins of the first market. Each market is sorted by market cap.

Market 1 - Currency:

  1. Bitcoin: 1st generation blockchain with currently bad scalability, though the implementation of the Lightning Network looks promising and could alleviate most scalability and high energy use concerns.
  2. Ripple: Centralized currency that might become very successful due to tight involvement with banks and cross-border payments for financial institutions; banks and companies like Western Union and Moneygram (who they are currently working with) as customers customers. However, it seems they are aiming for more decentralization now.https://ripple.com/dev-blog/decentralization-strategy-update/. Has high TPS due to Proof of Correctness algorithm.
  3. Bitcoin Cash: Bitcoin fork with the difference of having an 8 times bigger block size, making it 8 times more scalable than Bitcoin currently. Further block size increases are planned. Only significant difference is bigger block size while big blocks lead to further problems that don't seem to do well beyond a few thousand TPS. Opponents to a block size argue that increasing the block size limit is unimaginative, offers only temporary relief, and damages decentralization by increasing costs of participation. In order to preserve decentralization, system requirements to participate should be kept low. To understand this, consider an extreme example: very big blocks (1GB+) would require data center level resources to validate the blockchain. This would preclude all but the wealthiest individuals from participating.Community seems more open than Bitcoin's though.
  4. Litecoin : Little brother of Bitcoin. Bitcoin fork with different mining algorithm but not much else.Copies everything that Bitcoin does pretty much. Lack of real innovation.
  5. Dash: Dash (Digital Cash) is a fork of Bitcoin and focuses on user ease. It has very fast transactions within seconds, low fees and uses Proof of Service from Masternodes for consensus. They are currently building a system called Evolution which will allow users to send money using usernames and merchants will find it easy to integrate Dash using the API. You could say Dash is trying to be a PayPal of cryptocurrencies. Currently, cryptocurrencies must choose between decentralization, speed, scalability and can pick only 2. With Masternodes, Dash picked speed and scalability at some cost of decentralization, since with Masternodes the voting power is shifted towards Masternodes, which are run by Dash users who own the most Dash.
  6. IOTA: 3rd generation blockchain called Tangle, which has a high scalability, no fees and instant transactions. IOTA aims to be the connective layer between all 80 billion IOT devices that are expected to be connected to the Internet in 2025, possibly creating 80 billion transactions per second or 800 billion TPS, who knows. However, it needs to be seen if the Tangle can keep up with this scalability and iron out its security issues that have not yet been completely resolved.
  7. Nano: 3rd generation blockchain called Block Lattice with high scalability, no fees and instant transactions. Unlike IOTA, Nano only wants to be a payment processor and nothing else, for now at least. With Nano, every user has their own blockchain and has to perform a small amount of computing for each transaction, which makes Nano perform at 300 TPS with no problems and 7,000 TPS have also been tested successfully. Very promising 3rd gen technology and strong focus on only being the fastest currency without trying to be everything.
  8. Decred: As mining operations have grown, Bitcoin’s decision-making process has become more centralized, with the largest mining companies holding large amounts of power over the Bitcoin improvement process. Decred focuses heavily on decentralization with their PoW Pos hybrid governance system to become what Bitcoin was set out to be. They will soon implement the Lightning Network to scale up. While there do not seem to be more differences to Bitcoin besides the novel hybrid consensus algorithm, which Ethereum, Aeternity and Bitcoin Atom are also implementing, the welcoming and positive Decred community and professoinal team add another level of potential to the coin.
  9. Bitcoin Atom: Atomic Swaps and hybrid consenus. This looks like the only Bitcoin clone that actually is looking to innovate next to Bitcoin Cash.
  10. Dogecoin: Litecoin fork, fantastic community, though lagging behind a bit in technology.
  11. Bitcoin Gold: A bit better security than bitcoin through ASIC resistant algorithm, but that's it. Not that interesting.
  12. Digibyte: Digibyte's PoS blockchain is spread over a 100,000+ servers, phones, computers, and nodes across the globe, aiming for the ultimate level of decentralization. DigiByte’s adoption over the past four years has been slow. The DigiByte website offers a lot of great marketing copy and buzzwords. However, there’s not much technical information about what they have planned for the future. You could say Digibyte is like Bitcoin, but with shorter blocktimes and a multi-algorithm. However, that's not really a difference big enough to truly set themselves apart from Bitcoin, since these technologies could be implemented by any blockchain without much difficulty. Their decentralization is probably their strongest asset, however, this also change quickly if the currency takes off and big miners decide to go into Digibyte.
  13. Bitcoin Diamond Asic resistant Bitcoin and Copycat

Market 2 - Platform

Most of the cryptos here have smart contracts and allow dapps (Decentralized apps) to be build on their platform and to use their token as an exchange of value between dapp services.
  1. Ethereum: 2nd generation blockchain that allows the use of smart contracts. Bad scalability currently, though this concern could be alleviated by the soon to be implemented Lightning Network aka the Raiden Network, Plasma and its Sharding concept.
  2. EOS: Promising technology that wants to be able do everything, from smart contracts like Ethereum, scalability similar to Nano with 1000 tx/second + near instant transactions and zero fees, to also wanting to be a platform for dapps. However, EOS doesn't have a product yet and everything is just promises still. There are lots of red flags, e.g. having dumped $500 million Ether over the last 2 months and possibly bought back EOS to increase the size of their ICO, which has been going on for over a year and has raised several billion dollars. All in all, their market cap is way too high for that and not even having a product. However, Mainnet release is in 1 month, which could change everything.
  3. Cardano: Similar to Ethereum/EOS, however, only promises made with no delivery yet, highly overrated right now. Interesting concept though. Market cap way too high for not even having a product. Somewhat promising technology.
  4. VeChain: Singapore-based project that’s building a business enterprise platform and inventory tracking system. Examples are verifying genuine luxury goods and food supply chains. Has one of the strongest communities in the crypto world. Most hyped token of all, with merit though.
  5. Neo: Neo is a platform, similar to Eth, but more extensive, allowing dapps and smart contracts, but with a different smart contract gas system, consensus mechanism (PoS vs. dBfT), governance model, fixed vs unfixed supply, expensive contracts vs nearly free contracts, different ideologies for real world adoption. There are currently only 9 nodes, each of which are being run by a company/entity hand selected by the NEO council (most of which are located in china) and are under contract. This means that although the locations of the nodes may differ, ultimately the neo council can bring them down due to their legal contracts. In fact this has been done in the past when the neo council was moving 50 million neo that had been locked up. Also dbft (or neo's implmentation of it) has failed underload causing network outages during major icos. The first step in decentralization is that the NEO Counsel will select trusted nodes (Universities, business partners, etc.) and slowly become less centralized that way. The final step in decentralization will be allowing NEO holders to vote for new nodes, similar to a DPoS system (ARK/EOS/LISK). NEO has a regulation/government friendly ideology. Finally they are trying to work undewith the Chinese government in regards to regulations. If for some reason they wanted it shut down, they could just shut it down.
  6. Stellar:PoS system, similar goals as Ripple, but more of a platform than only a currency. 80% of Stellar are owned by Stellar.org still, making the currency centralized.
  7. Ethereum classic: Original Ethereum that decided not to fork after a hack. The Ethereum that we know is its fork. Uninteresing, because it has a lot of less resources than Ethereum now and a lot less community support.
  8. Ziliqa: Zilliqa is building a new way of sharding. 2400 tpx already tested, 10,000 tps soon possible by being linearly scalable with the number of nodes. That means, the more nodes, the faster the network gets. They are looking at implementing privacy as well.
  9. QTUM: Enables Smart contracts on the Bitcoin blockchain. Useful.
  10. Icon: Korean ethereum. Decentralized application platform that's building communities in partnership with banks, insurance providers, hospitals, and universities. Focused on ID verification and payments.
  11. LISK: Lisk's difference to other BaaS is that side chains are independent to the main chain and have to have their own nodes. Similar to neo whole allows dapps to deploy their blockchain to. Like most cryptocurrencies, Lisk is currently somewhat centralized with a small group of members owning more than 50% of the delegated positions. Lisk plans to change the consensus algorithm for that reason in the near future.
  12. Rchain: Similar to Ethereum with smart contract, though much more scalable at an expected 40,000 TPS and possible 100,000 TPS. Not launched yet. No product launched yet, though promising technology. Not overvalued, probably at the right price right now.
  13. ARDR: Similar to Lisk. Ardor is a public blockchain platform that will allow people to utilize the blockchain technology of Nxt through the use of child chains. A child chain, which is a ‘light’ blockchain that can be customized to a certain extent, is designed to allow easy self-deploy for your own blockchain. Nxt claims that users will "not need to worry" about security, as that part is now handled by the main chain (Ardor). This is the chief innovation of Ardor. Ardor was evolved from NXT by the same company. NEM started as a NXT clone.
  14. Ontology: Similar to Neo. Interesting coin
  15. Bytom: Bytom is an interactive protocol of multiple byte assets. Heterogeneous byte-assets (indigenous digital currency, digital assets) that operate in different forms on the Bytom Blockchain and atomic assets (warrants, securities, dividends, bonds, intelligence information, forecasting information and other information that exist in the physical world) can be registered, exchanged, gambled and engaged in other more complicated and contract-based interoperations via Bytom.
  16. Nxt: Similar to Lisk
  17. Aeternity: We’ve seen recently, that it’s difficult to scale the execution of smart contracts on the blockchain. Crypto Kitties is a great example. Something as simple as creating and trading unique assets on Ethereum bogged the network down when transaction volume soared. Ethereum and Zilliqa address this problem with Sharding. Aeternity focuses on increasing the scalability of smart contracts and dapps by moving smart contracts off-chain. Instead of running on the blockchain, smart contracts on Aeternity run in private state channels between the parties involved in the contracts. State channels are lines of communication between parties in a smart contract. They don’t touch the blockchain unless they need to for adjudication or transfer of value. Because they’re off-chain, state channel contracts can operate much more efficiently. An important aspect of smart contract and dapp development is access to outside data sources. This could mean checking the weather in London, score of a football game, or price of gold. Oracles provide access to data hosted outside the blockchain. In many blockchain projects, oracles represent a security risk and potential point of failure, since they tend to be singular, centralized data streams. Aeternity proposes decentralizing oracles with their oracle machine. Doing so would make outside data immutable and unchangeable once it reaches Aeternity’s blockchain. Aeternity’s network runs on on a hybrid of proof of work and proof of stake. Founded by a long-time crypto-enthusiast and early colleague of Vitalik Buterin, Yanislav Malahov. Promising concept though not product yet
  18. Stratis: Different to LISK, Stratis will allow businesses and organizations to create their own blockchain according to their own needs, but secured on the parent Stratis chain. Stratis’s simple interface will allow organizations to quickly and easily deploy and/or test blockchain functionality of the Ethereum, BitShares, BitCoin, Lisk and Stratis environements.
  19. Status: Status provides access to all of Ethereum’s decentralized applications (dapps) through an app on your smartphone. It opens the door to mass adoption of Ethereum dapps by targeting the fastest growing computer segment in the world – smartphone users.
  20. Ark: Fork of Lisk that focuses on a smaller feature set. Ark wallets can only vote for one delegate at a time which forces delegates to compete against each other and makes cartel formations incredibly hard, if not impossible.
  21. Neblio: Similar to Neo, but at a 30x smaller market cap.
  22. NEM: Is similar to Neo. However, it has no marketing team, very high market cap for little clarilty what they do.
  23. Bancor: Bancor is a Decentralized Liquidity Network that allows you to hold any Ethereum token and convert it to any other token in the network, with no counter party, at an automatically calculated price, using a simple web wallet.
  24. Dragonchain: The Purpose of DragonChain is to help companies quickly and easily incorporate blockchain into their business applications. Many companies might be interested in making this transition because of the benefits associated with serving clients over a blockchain – increased efficiency and security for transactions, a reduction of costs from eliminating potential fraud and scams, etc.
  25. Skycoin: Transactions with zero fees that take apparently two seconds, unlimited transaction rate, no need for miners and block rewards, low power usage, all of the usual cryptocurrency technical vulnerabilities fixed, a consensus mechanism superior to anything that exists, resistant to all conceivable threats (government censorship, community infighting, cybenucleaconventional warfare, etc). Skycoin has their own consensus algorithm known as Obelisk written and published academically by an early developer of Ethereum. Obelisk is a non-energy intensive consensus algorithm based on a concept called ‘web of trust dynamics’ which is completely different to PoW, PoS, and their derivatives. Skywire, the flagship application of Skycoin, has the ambitious goal of decentralizing the internet at the hardware level and is about to begin the testnet in April. However, this is just one of the many facets of the Skycoin ecosystem. Skywire will not only provide decentralized bandwidth but also storage and computation, completing the holy trinity of commodities essential for the new internet. Skycion a smear campaign launched against it, though they seem legit and reliable. Thus, they are probably undervalued.

Market 3 - Ecosystem

The 3rd market with 11 coins is comprised of ecosystem coins, which aim to strengthen the ease of use within the crypto space through decentralized exchanges, open standards for apps and more
  1. Nebulas: Similar to how Google indexes webpages Nebulas will index blockchain projects, smart contracts & data using the Nebulas rank algorithm that sifts & sorts the data. Developers rewarded NAS to develop & deploy on NAS chain. Nebulas calls this developer incentive protocol – basically rewards are issued based on how often dapp/contract etc. is used, the more the better the rewards and Proof of devotion. Works like DPoS except the best, most economically incentivised developers (Bookkeeppers) get the forging spots. Ensuring brains stay with the project (Cross between PoI & PoS). 2,400 TPS+, DAG used to solve the inter-transaction dependencies in the PEE (Parallel Execution Environment) feature, first crypto Wallet that supports the Lightening Network.
  2. Waves: Decentralized exchange and crowdfunding platform. Let’s companies and projects to issue and manage their own digital coin tokens to raise money.
  3. Salt: Leveraging blockchain assets to secure cash loands. Plans to offer cash loans in traditional currencies, backed by your cryptocurrency assets. Allows lenders worldwide to skip credit checks for easier access to affordable loans.
  4. CHAINLINK: ChainLink is a decentralized oracle service, the first of its kind. Oracles are defined as an ‘agent’ that finds and verifies real-world occurrences and submits this information to a blockchain to be used in smart contracts.With ChainLink, smart contract users can use the network’s oracles to retrieve data from off-chain application program interfaces (APIs), data pools, and other resources and integrate them into the blockchain and smart contracts. Basically, ChainLink takes information that is external to blockchain applications and puts it on-chain. The difference to Aeternity is that Chainlink deploys the smart contracts on the Ethereum blockchain while Aeternity has its own chain.
  5. WTC: Combines blockchain with IoT to create a management system for supply chains Interesting
  6. Ethos unifyies all cryptos. Ethos is building a multi-cryptocurrency phone wallet. The team is also building an investment diversification tool and a social network
  7. Komodo: The Komodo blockchain platform uses Komodo’s open-source cryptocurrency for doing transparent, anonymous, private, and fungible transactions. They are then made ultra-secure using Bitcoin’s blockchain via a Delayed Proof of Work (dPoW) protocol and decentralized crowdfunding (ICO) platform to remove middlemen from project funding. Offers services for startups to create and manage their own Blockchains.
  8. Aion: Today, there are hundreds of blockchains. In the coming years, with widespread adoption by mainstream business and government, these will be thousands or millions. Blockchains don’t talk to each other at all right now, they are like the PCs of the 1980s. The Aion network is able to support custom blockchain architectures while still allowing for cross-chain interoperability by enabling users to exchange data between any Aion-compliant blockchains by making use of an interchain framework that allows for messages to be relayed between blockchains in a completely trust-free manner.
  9. Tenx: Raised 80 million, offers cryptocurrency-linked credit cards that let you spend virtual money in real life. Developing a series of payment platforms to make spending cryptocurrency easier.

Market 4 - Privacy

The 4th market are privacy coins. As you might know, Bitcoin is not anonymous. If the IRS or any other party asks an exchange who is the identity behind a specific Bitcoin address, they know who you are and can track back almost all of the Bitcoin transactions you have ever made and all your account balances. Privacy coins aim to prevent exactly that through address fungability, which changes addresses constantly, IP obfuscation and more. There are 2 types of privacy coins, one with completely privacy and one with optional privacy. Optional Privacy coins like Dash and Nav have the advantage of more user friendliness over completely privacy coins such as Monero and Enigma.
  1. Monero: Currently most popular privacy coin, though with a very high market cap. Since their privacy is all on chain, all prior transactions would be deanonymized if their protocol is ever cracked. This requires a quantum computing attack though. PIVX is better in that regard.
  2. Zcash: A decentralized and open-source cryptocurrency that hide the sender, recipient, and value of transactions. Offers users the option to make transactions public later for auditing. Decent privacy coin, though no default privacy
  3. Verge: Calls itself privacy coin without providing private transactions, multiple problems over the last weeks has a toxic community, and way too much hype for what they have.
  4. Bytecoin: First privacy-focused cryptocurrency with anonymous transactions. Bytecoin’s code was later adapted to create Monero, the more well-known anonymous cryptocurrency. Has several scam accusations, 80% pre-mine, bad devs, bad tech
  5. Bitcoin Private: A merge fork of Bitcoin and Zclassic with Zclassic being a fork of Zcash with the difference of a lack of a founders fee required to mine a valid block. This promotes a fair distribution, preventing centralized coin ownership and control. Bitcoin private offers the optional ability to keep the sender, receiver, and amount private in a given transaction. However, this is already offered by several good privacy coins (Monero, PIVX) and Bitcoin private doesn't offer much more beyond this.
  6. PIVX: As a fork of Dash, PIVX uses an advanced implementation of the Zerocoin protocol to provide it’s privacy. This is a form of zeroknowledge proofs, which allow users to spend ‘Zerocoins’ that have no link back to them. Unlike Zcash u have denominations in PIVX, so they can’t track users by their payment amount being equal to the amount of ‘minted’ coins, because everyone uses the same denominations. PIVX is also implementing Bulletproofs, just like Monero, and this will take care of arguably the biggest weakness of zeroknowledge protocols: the trusted setup.
  7. Zcoin: PoW cryptocurrency. Private financial transactions, enabled by the Zerocoin Protocol. Zcoin is the first full implementation of the Zerocoin Protocol, which allows users to have complete privacy via Zero-Knowledge cryptographic proofs.
  8. Enigma: Monero is to Bitcoin what enigma is to Ethereum. Enigma is for making the data used in smart contracts private. More of a platform for dapps than a currency like Monero. Very promising.
  9. Navcoin: Like bitcoin but with added privacy and pos and 1,170 tps, but only because of very short 30 second block times. Though, privacy is optional, but aims to be more user friendly than Monero. However, doesn't really decide if it wants to be a privacy coin or not. Same as Zcash.Strong technology, non-shady team.

Market 5 - Currency Exchange Tool

Due to the sheer number of different cryptocurrencies, exchanging one currency for the other it still cumbersome. Further, merchants don’t want to deal with overcluttered options of accepting cryptocurrencies. This is where exchange tool like Req come in, which allow easy and simple exchange of currencies.
  1. Cryptonex: Fiat and currency exchange between various blockchain services, similar to REQ.
  2. QASH: Qash is used to fuel its liquid platform which will be an exchange that will distribute their liquidity pool. Its product, the Worldbook is a multi-exchange order book that matches crypto to crypto, and crypto to fiat and the reverse across all currencies. E.g., someone is selling Bitcoin is USD on exchange1 not owned by Quoine and someone is buying Bitcoin in EURO on exchange 2 not owned by Quoine. They turned it on to test it a few months ago for an hour or so and their exchange was the top exchange in the world by 4x volume for the day because all Worldbook trades ran through it. Binance wants BNB to be used on their one exchange. Qash wants their QASH token embedded in all of their partners.
  3. Kyber: network Exchange between cryptocurrencies, similar to REQ. Features automatic coin conversions for payments. Also offers payment tools for developers and a cryptocurrency wallet.
  4. Achain: Building a boundless blockchain world like Req .
  5. Centrality: Centrality is a decentralized market place for dapps that are all connected together on a blockchain-powered system. Centrality aims to allow businesses to work together using blockchain technology. With Centrality, startups can collaborate through shared acquisition of customers, data, merchants, and content. That shared acquisition occurs across the Centrality blockchain, which hosts a number of decentralized apps called Scenes. Companies can use CENTRA tokens to purchase Scenes for their app, then leverage the power of the Centrality ecosystem to quickly scale. Some of Centrality's top dapps are, Skoot, a travel experience marketplace that consists of a virtual companion designed for free independent travelers and inbound visitors, Belong, a marketplace and an employee engagement platform that seems at helping business provide rewards for employees, Merge, a smart travel app that acts as a time management system, Ushare, a transports application that works across rental cars, public transport, taxi services, electric bikes and more. All of these dapps are able to communicate with each other and exchange data through Centrality.
  6. Bitshares: Exchange between cryptocurrencies. Noteworthy are the 1.5 second average block times and throughput potential of 100,000 transactions per second with currently 2,400 TPS having been proven. However, Bitshares had several Scam accusations in the past.
  7. Loopring: A protocol that will enable higher liquidity between exchanges and personal wallets by pooling all orders sent to its network and fill these orders through the order books of multiple exchanges. When using Loopring, traders never have to deposit funds into an exchange to begin trading. Even with decentralized exchanges like Ether Delta, IDex, or Bitshares, you’d have to deposit your funds onto the platform, usually via an Ethereum smart contract. But with Loopring, funds always remain in user wallets and are never locked by orders. This gives you complete autonomy over your funds while trading, allowing you to cancel, trim, or increase an order before it is executed.
  8. ZRX: Open standard for dapps. Open, permissionless protocol allowing for ERC20 tokens to be traded on the Ethereum blockchain. In 0x protocol, orders are transported off-chain, massively reducing gas costs and eliminating blockchain bloat. Relayers help broadcast orders and collect a fee each time they facilitate a trade. Anyone can build a relayer.

Market 6 - Gaming

With an industry size of $108B worldwide, Gaming is one of the largest markets in the world. For sure, cryptocurrencies will want to have a share of that pie.
  1. Storm: Mobile game currency on a platform with 9 million players.
  2. Fun: A platform for casino operators to host trustless, provably-fair gambling through the use of smart contracts, as well as creating their own implementation of state channels for scalability.
  3. Electroneum: Mobile game currency They have lots of technical problems, such as several 51% attacks
  4. Wax: Marketplace to trade in-game items

Market 7 - Misc

There are various markets being tapped right now. They are all summed up under misc.
  1. OMG: Omise is designed to enable financial services for people without bank accounts. It works worldwide and with both traditional money and cryptocurrencies.
  2. Power ledger: Australian blockchain-based cryptocurrency and energy trading platform that allows for decentralized selling and buying of renewable energy. Unique market and rather untapped market in the crypto space.
  3. Populous: Populous is a platform that connects business owners and invoice buyers without middlemen. Furthermore, it is a peer-to-peer (P2P) platform that uses blockchain to provide small and medium-sized enterprises (SMEs) a more efficient way to participate in invoice financing. Businesses can sell their outstanding invoices at a discount to quickly free up some cash. Invoice sellers get cash flow to fund their business and invoice buyers earn interest.
  4. Monacoin: The first Japanese cryptocurrency. Focused on micro-transactions and based on a popular internet meme of a type-written cat. This makes it similar to Dogecoin. Very niche, tiny market.
  5. Revain: Legitimizing reviews via the blockchain. Interesting concept, though market not as big.
  6. Augur: Platform to forecast and make wagers on the outcome of real-world events (AKA decentralized predictions). Uses predictions for a “wisdom of the crowd” search engine. Not launched yet.
  7. Substratum: Revolutionzing hosting industry via per request billing as a decentralized internet hosting system. Uses a global network of private computers to create the free and open internet of the future. Participants earn cryptocurrency. Interesting concept.
  8. Veritaseum: Is supposed to be a peer to peer gateway, though it looks like very much like a scam.
  9. TRON: Tronix is looking to capitalize on ownership of internet data to content creators. However, they plagiarized their white paper, which is a no go. They apologized, so it needs to be seen how they will conduct themselves in the future. Extremely high market cap for not having a product, nor proof of concept.
  10. Syscoin: A cryptocurrency with a decentralized marketplace that lets people buy and sell products directly without third parties. Trying to remove middlemen like eBay and Amazon.
  11. Hshare: Most likely scam because of no code changes, most likely pump and dump scheme, dead community.
  12. BAT: An Ethereum-based token that can be exchanged between content creators, users, and advertisers. Decentralized ad-network that pays based on engagement and attention.
  13. Dent: Decentralizeed exchange of mobile data, enabling mobile data to be marketed, purchased or distributed, so that users can quickly buy or sell data from any user to another one.
  14. Ncash: End to end encrypted Identification system for retailers to better serve their customers .
  15. Factom Secure record-keeping system that allows companies to store their data directly on the Blockchain. The goal is to make records more transparent and trustworthy .

Market 8 - Social network

Web 2.0 is still going strong and Web 3.0 is not going to ignore it. There are several gaming tokens already out there and a few with decent traction already, such as Steem, which is Reddit with voting through money is a very interesting one.
  1. Mithril: As users create content via social media, they will be rewarded for their contribution, the better the contribution, the more they will earn
  2. Steem: Like Reddit, but voting with money. Already launched product and Alexa rank 1,000 Thumbs up.
  3. Rdd: Reddcoin makes the process of sending and receiving money fun and rewarding for everyone. Reddcoin is dedicated to one thing – tipping on social networks as a way to bring cryptocurrency awareness and experience to the general public.
  4. Kin: Token for the platform Kik. Kik has a massive user base of 400 million people. Replacing paying with FIAT with paying with KIN might get this token to mass adoption very quickly.

Market 9 - Fee token

Popular exchanges realized that they can make a few billion dollars more by launching their own token. Owning these tokens gives you a reduction of trading fees. Very handy and BNB (Binance Coin) has been one of the most resilient tokens, which have withstood most market drops over the last weeks and was among the very few coins that could show growth.
  1. BNB: Fee token for Binance
  2. Gas: Not a Fee token for an exchange, but it is a dividend paid out on Neo and a currency that can be used to purchase services for dapps.
  3. Kucoin: Fee token for Kucoin

Market 10 - Decentralized Data Storage

Currently, data storage happens with large companies or data centers that are prone to failure or losing data. Decentralized data storage makes loss of data almost impossible by distributing your files to numerous clients that hold tiny pieces of your data. Remember Torrents? Torrents use a peer-to-peer network. It is similar to that. Many users maintain copies of the same file, when someone wants a copy of that file, they send a request to the peer-to-peer network., users who have the file, known as seeds, send fragments of the file to the requester. The requester receives many fragments from many different seeds, and the torrent software recompiles these fragments to form the original file.
  1. Gbyte: Byteball data is stored and ordered using directed acyclic graph (DAG) rather than blockchain. This allows all users to secure each other's data by referencing earlier data units created by other users, and also removes scalability limits common for blockchains, such as blocksize issue.
  2. Siacoin: Siacoin is decentralized storage platform. Distributes encrypted files to thousands of private users who get paid for renting out their disk space. Anybody with siacoins can rent storage from hosts on Sia. This is accomplish via "smart" storage contracts stored on the Sia blockchain. The smart contract provides a payment to the host only after the host has kept the file for a given amount of time. If the host loses the file, the host does not get paid.
  3. Maidsafecoin: MaidSafe stands for Massive Array of Internet Disks, Secure Access for Everyone.Instead of working with data centers and servers that are common today and are vulnerable to data theft and monitoring, You can think of SAFE as a crowd-sourced internet. It’s an autonomous network that automatically sets prices and distributes data and rents out hard drive disk space with a Blockchain-based storage solutions.When you upload a file to the network, such as a photo, it will be broken into pieces, hashed, and encrypted. Then, redundant copies of the data are created as well so that if someone storing your file turns off their computer, you will still have access to your data. And don’t worry, even with pieces of your data on other people’s computers, they won’t be able to read them. You can earn MadeSafeCoins by participating in storing data pieces from the network on your computer and thus earning a Proof of Resource.
  4. Storj: Storj aims to become a cloud storage platform that can’t be censored or monitored, or have downtime. Your files are encrypted, shredded into little pieces called 'shards', and stored in a decentralized network of computers around the globe. No one but you has a complete copy of your file, not even in an encrypted form.

Market 11 - Cloud computing

Obviously, renting computing power, one of the biggest emerging markets as of recent years, e.g. AWS and Digital Ocean, is also a service, which can be bought and managed via the blockchain.
  1. Golem: Allows easy use of Supercomputer in exchange for tokens. People worldwide can rent out their computers to the network and get paid for that service with Golem tokens.
  2. Elf: Allows easy use of Cloud computing in exchange for tokens.

Market 12 - Stablecoin

Last but not least, there are 2 stablecoins that have established themselves within the market. A stable coin is a coin that wants to be independent of the volatility of the crypto markets. This has worked out pretty well for Maker and DGD, accomplished through a carefully diversified currency fund and backing each token by 1g or real gold respectively. DO NOT CONFUSE DGD AND MAKER with their STABLE COINS DGX and DAI. DGD and MAKER are volatile, because they are the companies of DGX and DAI. DGX and DAI are the stable coins.
  1. DGD: Platform of the Stablecoin DGX. Every DGX coin is backed by 1g of gold and make use proof of asset consensus.
  2. Maker: Platform of the Stablecoin DAI that doesn't vary much in price through widespread and smart diversification of assets.
  3. USDT: is no cryptocurrency really, but a replacement for dollar for trading After months of asking for proof of dollar backing, still no response from Tether.
EDIT: Added a risk factor from 0 to 10. Significant scandals, mishaps, shady practices, questionable technology, increase the risk factor. Not having a product yet automatically means a risk factor of 6. Strong adoption and thus strong scrutiny or positive community lower the risk factor.
EDIT2: Added a subjective potential factor from 0 to 10, where its overall potential and a small or big market cap is factored in. Bitcoin with lots of potential only gets a 9, because of its massive market cap, because if Bitcoin goes 10x, smaller coins go 100x.
submitted by galan77 to ethtrader [link] [comments]

Careful with LocalBitcoins -- How to Avoid their Scams

UPDATE: This post was removed from the /localbitcoins subreddit by their admins.

I was recently scammed on Localbitcoins for ~500 USD, and after providing proof for what seemed an obvious scam, the LBC team resolved the dispute for the seller (this seems to be common practice after researching a bit).

I will not go into detail too much here--if you prefer to hear the whole story just DM me.

**Main takeaways and things to remember to avoid being scammed on LBC:*\*
- Many sellers will have 'contact me on WhatsApp after opening a trade' in their terms of trade details, which is the one of the first things the LBC system draws your attention to after commencing a trade.
- Once you follow the seller's instructions to communicate using WhatsApp, the seller will often send you payment details through a WhatsApp message, under the pretext of hastening the trade. Since the seller will often have good feedback history and no traces of a scam (you're a smart buyer and glanced over their history, right?), there is little reason to be suspicious of a scam at this point. After all, you are being messaged by the same number listed in the seller's 'terms of trade', and you are following their instructions to chat with them through WhatsApp--in other words, you are talking and complying with the seller.
- You continue with the trade, send the money through Western Union / Moneygram / insert cash pickup service here. You send pictures of your receipt, and you mark the LBC trade as paid. You pat yourself on the shoulder for a prompt and smooth trade. You even check to see if the seller has picked up the cash, using the reference number from your receipt--everything is complete.
- At this time, you notice the WhatsApp messages from the seller have been deleted, and around this time you receive a message from the seller on LBC chat, providing you payment details, and requesting you pay and send receipt once paid. However, these are different payment details from those you just sent payment to--herein lies the scam. Your money has now been sent to, and received by, an alias of the seller, and that seller is now feigning ignorance in the LBC chat and concluding the scam.


Sounds like a pretty simple scam, right? Unfortunately, even after providing proof of chat logs, receipts, etc., to the LocalBitcoins team, this dispute was promptly resolved to the seller.

Learn from my mistakes!




submitted by aristo90 to Bitcoin [link] [comments]

Puretime Question

Their shity website says it takes visa, but it only has a mastercard/bitcoin option.

Its says you get a 8% discount to use bitcoin, I am wary of these types of things, I was ripped off for $200 from a company called perfectwatches.io in 2016, never to get my $200 watch, they got me with the using money transfer (10% off, that way my bank wouldn't refund me. I will ONLY use visa, my bank will refund any transaction I dispute. I dont trust ANYTHING else, western union, paypal, bitcoin, moneygram can go to hell. Im not going to get scammed again
submitted by lancepickell to RepTime [link] [comments]

Gold is not Silver, Bitcoin is not Litecoin and Babb is definitely not Ripple. The case Against $1 BABB

Hi All, newbie here, I sneak peek here once in a while and now I created this account to chime in. First of all, let me preface this by saying I know I will get a lot of hate for this, please do NOT read it if you can’t handle facts. I welcome an intellectual debate however.
In the Crypto world there are 2 types of people – there are the End of the world type ie “Bubble talk”, or “Bitcoin is Tulip”, a “Fudder” or that everything in Crypto is a “scam”
Then there are those who see with Rose colored glasses, those with endless “Moon” and “Lambo” and FOMO talk.
I like to stay in the middle ground, this is where we will explore, and why BABBs in my opinion can never be at $1
There have been a few post with price prediction of BABB recently and many of which repeatedly make the same mistake – that is thinking BABB can go to $1 because Ripple "did it" or that it went as high as $4. I don’t know whether those who think like this knows what Ripple even is and what its trying to accomplish. Such comparison is as absurd as comparing Gold to Silver or Litecoin to Bitcoin.
Firstly, there are estimates that the Cryptocurrencies market cap can go as high as $40 Trillion:
https://www.ccn.com/40-trillion-cryptocurrency-market-cap-definitely-possible-pantera-capital-ceo/
but lets get real and stick with $6 Trillion a much more conservative estimate. There are roughly 1600 cryptocurrencies thus far. Lets assume there are 30 new ICO’s per month, which gives us 400 new coins per year roughly. Hence:
2000 Cryptocurrencies / 1Trillion = Avg 500 Million Market cap per coin by end of 2018, 2400 Cryptocurrencies / 3 Trillion = Avg 1.25 Billion Market cap per coin by end of 2019, 2800 Cryptocurrencies /5 Trillion = Avg 1.78 Billion Market cap per coin by end of 2020, 3200 Cryptocurrencies /6 Trillion = Avg 1.87 Billion Market cap per coin by end of 2021,
Meaning, at a $6 Trillion market cap, IF BABBS does better or equal to average, it will have a 1.87 billion market cap or be at roughly 10 cents at most.
Secondly, the list below are the market caps of the biggest banks in Europe. $1 BABB would mean a $20 Billion market cap, do you honestly think a Blockchain Bank with maybe 20 staff max and no revenue, No positive cash flow and only a banking license as an asset (assuming they get it) is worth close to what Standard Chartered bank is worth? Its pretty absurd to say the least!
• HSBC Holdings — UK — $126 billion. • Lloyds Banking Group — UK — $60 billion. • Banco Santander — Spain — $58 billion. • UBS Group — Switzerland — $57 billion. • BNP Paribas — France — $56 billion. • Intesa Sanpaolo — Italy — $46 billion. • ING Group — Netherlands — $43 billion. • Standard Chartered PLC — UK — $27 billion.
Thirdly, now I can already hear the chorus of “Oh but Ripple is worth more than $30 Billion” etc etc, yeah but you know WHY it worth that much? Ripple is literally taking traditional banking head on, it intends to replace SWIFT all together, the global payment system, and their own blockchain technology is already in place and been tested by multiple banks. Ripple is at this price because every partnership it garners is like a turbo boost for its price, it gets bumped up higher, up until now there are at least 150 PARTNERSHIPS with banks worldwide, some of these are:
https://steemit.com/ripple/@inferisgripple-partnerships-spread-this-sheet
Moreover, it even has partnerships with Western Union, Unipay and Moneygram. It's literally taking the world by storm, it’s a revolution. The Ripple Blockchain is scalable and is faster than even Visa:
https://globalcoinreport.com/how-ripple-xrp-outdid-the-transaction-speed-of-visa/
So, lets now look at what BABB has got shall we? Most of whats in the whitepaper and Roadmap is vague and sorely lacking in details. There isn’t much to cover so it’ll be quick:
As I said, Ripple is at the price it is at because each and every partnership and good news announcement is like a turbo boost tossing it higher. All BABB has going for it is a banking license, and then the price will likely fizzle out.
Another Big mistake BABB is making is that it has solely branded itself as a Bank to service the Microeconomy, sound like a good idea? Not really, why? Because you are targeting all these poor countries where people can’t get bank accounts! Why would you box yourself into targeting customers with little to no money??? You need to service BOTH the macro and micro economy! It should be branded as a Bank Account for the New Economy so that ALL could and would participate and exclude nobody!
The biggest elephant in the room is ASIA, you are missing Asia in your partnerships and clients. Bahrain, Middle East or the UK is nothing compared to the Asian Economy. We all know Koreans and the Chinese add a huge contribution to the Crypto market cap, by excluding the Asian market, you will not succeed, period. By comparison, look at Ripple and how many Japanese and Korean banks partners it has under its belt!
Lastly but definitely not least. BABB has an incompetent CEO. Look at Brad Garlinghouse of Ripple and how often he does his own marketing and shilling on Bloomberg versus Rushd. Hell Rushd doesn’t even want to appear in his own BABB videos, which is a disgrace.
And THAT is why BABB will never reach $1, at least not without major team restructuring. An Angel investor or Buyout would be ideal after obtaining the banking license.
submitted by Realist_Crypto to getBABB [link] [comments]

Nembutal Pharmacy and King Express Delivery FAKE- BIG BIG SCAM- WATCH OUT!

King Express Delivery is based in Ukraine but all the payments I made, whether sent by MoneyGram or directly by wire transfer, were to people in Poland. Also, the person I sent the money to for Nembutal is also one of the people that I was told to send the money to in King Express Delivery.

THE SHORT VERSION
Here is a summary of what happened. If you wish for more detail and copies of the emails that were sent to me, scroll down and have a look.
Basically, I ordered from Nembutal pharmacy which gave me a tracking number for King Express Delivery. Then King Express Delivery keeps emailing me telling me I had to have some sort of documentation to allow the parcel to go through. They started with a 300$ Import Drug License, a 500$ Phytosanitary License, A 600$ DEA sticker + 150$ Customs Clearance, and finally a 980$ FDA license. So they worked me upwards.
For the DEA sticker and FDA license, they said if I didn't have these then the parcel would be opened and examined and I would be called in to the drug office at the airport for questioning. Nembutal is illegal in my country (I didn't know this at the time of making the purchase), so this is the last thing I wanted to happen.
I made all the payments, but then they come up my ass about a final check before delivery and tell me my parcel has been opened and sent to a lab for testing. I shat myself.
After this, they sent a very long email telling me that the cops were going to come to my house very soon to look for more information, but that if I paid 3000 Euros, they could sort the issue out and nothing bad would happen and I would get my sealed parcel finally. That's when my friend sent me this:

https://www.trustpilot.com/review/ghgenotropinpfizer.com

And we figured it was a scam.

THE LONG VERSION
I ordered an item from Nembutal Pharmacy (https://nembutalpharmacy.com) to treat my insomnia. I didn't know it was illegal in my country Lebanon, but when I found that out the parcel had already gone. I have had insomnia since I was 16 and the typical methods and medications didn't work. Nembutal Pharmacy then sends me a tracking number for the company King Express Delivery (https://kingexpressdelivery.com/) . Tracking took place to Romania, Bulgaria, then at Turkey, the shipping company emails me and tells me to send them a copy of an IMPORT DRUG LICENSE and that if I didn't have one, I could pay some fees (300 USD) to get an IMPORT DRUG LICENSE.
Ok, great! Now?

At the Lebanese airport, the shipping company King Express Delivery asked for

Phytosanitary license (500 USD)

I didn't think much about it. I just thought it was standard procedure, so I went ahead and made the payment.

After this, they come onto my ass with the need for a DEA (Drug Enforcement Agency) sticker or else the custom's agent would open the parcel and that's absolutely the last thing I wanted because Nembutal is illegal in Lebanon.

DEA sticker 600 USD + 150 USD customs clearance = 750 USD

For the DEA Sticker, they had this to say:

"The customs is insisting to open the parcel before it could be cleared due to the lack of the DEA License sticker which is a very serious sticker then the DEA sticker is the evidence that any parcel arrived from aboard into the Lebanon territory has been verified and approved by customs authorities.
Our services couldn't approve the opening of the parcel by the customs, then this could lead to a customer's compensation in case of any damages occasioned during the opening of the parcel. You shall need to pay for an express DEA sticker which cost $600 USD (then you parcel is classified on category B which is medicinal drug Highly controlled) and $150 USD to CLEAR CUSTOMS, both are $750 USD, so that we could send it to the Custom office for confirmation and releasing of the parcel for an immediate delivery on April 05th before 6:00 PM as on the delivery schedule."

After this, I made the payment, and I thought "ok great," but they come out with another requirement.

FDA License (980 USD)

Either I pay 980USD for an FDA (Food and Drug Administration) license or the custom's agents are going to confiscate the parcel, open it, examine it, then I'd have to go to the drug office in the airport and answer some questions. That freaked me out.
The previous payments broke me, so I had to get 980USD from friends of mine. King Express Delivery had this this to say:

"Dear client,
the DEA sticker has been completed, we are now fighting at the customs since 2 days beacuse of Customs clearance on your parcel. Your parcel is blocked by the customs (LCA) that refuse to clear your parcel without FDA license. The LCA (local customs agent) request the FDA sticker before the parcel can be cleared. According to the Lebanon Law Customs agents hae the right to request any additional document on parcel due to terrorism and drugs deal signaled on the the Middle - East.
Due to the lack of the FDA sticker, your parcel shall follow a process with presence of an Lebanon FDA agent. The LCA will deposit your parcel to the Drugs enforcement division at the Rafic Hariri international airport and the parcel shall been examinated by an FDA expert that will approve approve if the parcel's contains is authentic and approved or can be approved by the FDA. Once your parcel is transfered to the drug enforcement division, you will be summoned to the drugs enforcement office at the airport and after questioning and hearing your package will be delivered without any other question, the process is very fast.
To avoid the following process you can pay for the FDA license so that we can complete it fast, clear the parcel and deliver it to your address on April 09th or April 10th depending of how fast is the process.
The FDA license is valid for 24 months and is delivered for personal use and can't be used for a trader or business"

All clear right?

WRONG

Next they wrote this to comfort me I guess. See how believable it is:

"Our agent has completed the FDA as the last document requested by Lebanon Customs. we really appreciate your cooperation and your prompt response. Despite the complications encountered one after another. Our agent in Beyrouth reported to us (from reliable customs source) the excessive control or the reinforcement of the controls exercised by the customs agents. This is due to the recent massive seizure of a large amount of illicit goods of all kind coming around the world to Lebanon which caused a mass search and mass arrest of many Lebanese and led to life imprisonment for some of them. This is why control has been greatly increased at all airports, ports and stations connecting the Lebanon to other countries.
You will be informed soon by the delivery agent after the last check of Lca (local customs authorities) as usual which autotirizes the recovery and the load in the vehicles of delivery.
Delivery charges are free."

THEN another scary email

"Dear Hani Haidar,
we apologize again for the delay and promise to improve the qualities of our services to avoid such situation in the future. Your parcel was supposed to have left for delivery by now but the Final Routine Obligatory Customs Check (FROCC) which is controlled out by the Local Customs Authorities (LCA) before parcels are loaded into local delivery Vans(Vehicles) has been performed. During the Manuel control registered on the date of today, 10/04/2019, 10:38', the LCA found out a suspicious content: a brown vial labeled ''Harmful poison with notice''. The parcel has just been immediately removed and sent to the main customs office and will be send for a fast expertise to the laboratory.
There was nothing required to do until the expertise result. We are really worrying that the situation at this level. we are very sorry for the difficulties encountered and we could compensate the delay or any damage on the parcel once it come out from expertize."

THEN the scariest email of them all:

"Dear Hani Haidar,
According to legit sources, you could be summoned in the coming days if nothing is done. an inspection at your home could be organized by the anti-drugs laws enforcements to search for more information or to question your entourage, so becareful.
We have been indexed in this case as an accomplice and our agent on duty in Beyrouth has just been suspended with immediate application of the law, our vehicles are forbidden to work or circulate. we will be obliged to reveal your complete identity as the main concern if nothing is done. the case is still at the level of the customs officers and we demand to act before it is late.
If nothing is done, we will have to reveal your complete identity. the case is still at the primary level with the customs authorities and we require action before it is too late. A bargaining agreement is going on now and there is no time to waste or will be late. this must be sorted out fastly!
we innocently and naively carried products and have been helping to to sort licenses without any idea of what was really going on.
the parcel was falsely labeled an we are now trapped. you will be informed very soon about what to do, be connected and ready to react. In case you will delay or do not cooperate,
It is still at the primary level and if this most be reported to the Lebanon Government or law then it would cost you big loose and money (+ 30,000 Euros) and imprisonment but, we are out to safeguard our clients and we are always ready to cooperate to sort situation or issue out. We will not allow this to become noisely if we stand together to work this out.
we are waiting urgently to you mail once you read this mail."

And Finally, Blackmail 101:

"Dear Hani Haidar,
Things are updating to the worst but there is an eventual agreement to sort this issue without noise and quickly since It is still at the primary level. If this is reported to the main customs adminstration it would become noisely and you could face big charges and it would cost a big loose and a lot of money and imprisonment.
we have agreed to complete this as fast as possible. we have 48 hours to complete this and close this case forever. You need to complete a sum of 3000 EUROS so that all can be put to an end at this level and your parcel sealed and taken to your address. Please we said it and we repeat that we are out to safeguard our clients so we are ready to help you out if you agree with this , if not then we shall allow them to go ahead and take the case to the head office. Please get back to us as soon as possible then the delay is not favor and we could still extract the parcel from with the LCA and pick up you parcel for delivery.
you need to do this as fast as you get this informations and send us the receipt. we will take care of the rest, This is very urgent and we require high discretion and give you option to pay by the fastest and easiest method that you think it is."

-Wire transfert
-Money gram or Western union or
-bitcoin
-bitcoin cash
We are urgently awaiting for your reply."

"Dear Hani Haidar,
we request a very high discretion from now! No one should be aware of this because we are involved and we do not want our reputation to be compromised. Do not trust anyone or confide in anyone because a leak of information would lead directly to a sounding of thi case, which could make impossible any negotiations agreed with the LCA (Local customs agents).
you are facing your destiny and you must be very careful because it is a very sensitive case.
We are still awaiting urgently for your updates to send the informations to transfert the payment."

Then my friend sends me this about King Express Delivery,

https://www.trustpilot.com/review/ghgenotropinpfizer.com

Nembutal pharmacy FAKE
King Express Delivery FAKE

BEWARE BEWARE BEWARE

I lost $2530 on this scam just from the shipping company. Nembutal cost near 300+25 delivery charge. That's a total nearing 2900$. They ripped me right. DO NOT FALL FOR THIS SCAM.
submitted by dontbescammed to u/dontbescammed [link] [comments]

FAQ [U ARE REQUIRED TO READ THIS BEFORE POSTING]

how do i order from u?

u need to download tor browser first. then u can use tor browser to access our hidden service at http://ktfwex4m57oumggx.onion

the website is not loading for me

first make sure u are using the correct link http://ktfwex4m57oumggx.onion (THIS IS THE ONLY LINK TO OUR SERVICE AND ANY OTHER LINK U FIND IS A SCAM)
if that does not work try clicking the onion logo at the top of tor browser and select new identity
normally that will fix the problem but if not try coming back to the site in a few minutes.

can i order without tor browser?

NO. there is only 1 way to order from us and that is by using tor browser and going to http://ktfwex4m57oumggx.onion
if u can not follow the instructions above and figure out how to download tor then u do not belong ordering fake IDs.

why do u make people download tor browser to order from u?

because it is the safest way for us and for u. all traffic on tor is encrypted and the location of our server is not public like a clearnet site would be.

can i use a tor-based mobile app?

the safest way is to use the REAL TOR BROWSER BUNDLE on a REAL COMPUTER. there are some mobile apps that connect to the tor network but nothing is as safe as using a real computer with the real tor browser bundle.
u also risk having ur bitcoins stolen if u do not use the real tor browser so theres that too.

what is the price/why is the price different now?

we change the price based on demand so we do not take to many orders and fall behind. this helps us maintain our fast shipping times and gives us enough time to respond to each customer if they have questions.

do u accept western union/moneygram/other payment methods?

NO. we only accept bitcoin, litecoin, and dogecoin at this time. we may add other similar coins in the future but we will never accept other payment methods like western union or gift card codes. Its simple and anyone can figure out how to do it with 5 minutes of research.

how do I get bitcoin/litecoin/dogecoin?

There are a ton of tutorials for using bitcoin and litecoin that you can find with a simple google search. Check out localbitcoins.com or coinbase.com. Some areas even have bitcoin ATMs that you can go to and buy bitcoins from.
if u have bitcoins or another cryptocurrency and u want to convert them into a different cryptocurrency u can use sites like shapeshift.io or changelly.com
or u can even sign up to a coin trading exchange like poloniex bittrex btc-e or similar.
please note we are not affiliated with any of these sites or services so use them at ur own risk. we are only mentioning them to help u out but u should always do ur own research and due diligence before trusting any service.

where do I send the bitcoins or litecoins to once I get them?

after u place an order on our site, u will be provided with a unique bitcoin or litecoin address (depending which payment option u select) to send payment to. u will also be given an order number and support access code. MAKE SURE U SAVE THIS INFORMATION OR U WILL NOT BE ABLE TO LOG IN TO THE SUPPORT SYSTEM.
if u have a question not listed here, check the FAQ page on our site first http://ktfwex4m57oumggx.onion/faq.html and if it is not on there u can make a post or message one of the moderators.
submitted by uberfakesMO to uberfakesMO [link] [comments]

PSA to any tourists in France

TL:DR Everyone on craigslist is 100% a scammer.
With how difficult it is to find a dealer here, I turned to CL to try and find some green. After sorting through the really obvious scams (those asking for bitcoin/moneygram/western union) I finally found someone who agreed to meet me in person for a deal. He seemed legit and said he would take cash and so I set up a meeting. He wanted to meet in front of a tobbaco store because it wasna discrete location. But really, he wanted to meet there so I would buy something called a PCS Mastercard ticket, basically a sort of prepaid credit card. I was apprehensive at first but I figured if anything went wrong there was no way he'd be able to take the money unless I gave him the actual receipt. Once I told him I bought it, he said he wanted to see a picture of the receipt - then my alarms went off. I sent him a picture with my thumb blocking the secret code which he then replied to saying he needed to see the WHOLE receipt. As you can guess I told him to fuck off and went home to cash this thing before something else went wrong. Well, something else did go wrong. I made an account (which also cost me 5 euros) and loaded the prepaid ticket onto it. I soon realized that I couldn't really cash it out and was just gonna have to buy something online with it. So I booted up Amazon and went to go buy some stuff, lo and behold the damn thing doesn't even work. So now I'm waiting on their support staff to get back to me to try and figure out what the hell went wrong. And I'm still budless. Basically, fuck craigslist and fuck PCS mastercard. And don't be a naive canadian boy like me, expect the worst out of random dealers.
/rant over
submitted by edmund420 to trees [link] [comments]

Gold is not Silver, Bitcoin is not Litecoin and Babb is definitely not Ripple. The case against $1 BABB

First of all, let me preface this by saying I know I will get a lot of hate for this, please do NOT read it if you can’t handle facts. I welcome an intellectual debate however.
In the Crypto world there are 2 types of people – there are the End of the world type ie “Bubble talk”, or “Bitcoin is Tulip”, a “Fudder” or that everything in Crypto is a “scam”
Then there are those who see with Rose colored glasses, those with endless “Moon” and “Lambo” and FOMO talk.
I like to stay in the middle ground, this is where we will explore, and why BABBs in my opinion can never be at $1
There have been a few post with price prediction of BABB recently and many of which repeatedly make the same mistake – that is thinking BABB can go to $1 because Ripple “did it or that it went as high as $4. I don’t know whether who think like this know what Ripple is and what it does. Such comparison is as absurd as comparing Gold to Silver or Litecoin to Bitcoin.
Firstly, there are estimates that the Cryptocurrencies market cap can go as high as $40 Trillion:
https://www.ccn.com/40-trillion-cryptocurrency-market-cap-definitely-possible-pantera-capital-ceo/
but lets get real and stick with $6 Trillion a much more conservative estimate. There are roughly 1600 cryptocurrencies thus far. Lets assume there are 30 new ICO’s per month, which gives us 400 new coins per year. Hence:
2000 Cryptocurrencies / 1Trillion = Avg 500 Million Market cap per coin by end of 2018 2400 Cryptocurrencies / 3 Trillion = Avg 1.25 Billion Market cap per coin by end of2019 2800 Cryptocurrencies /5 Trillion = Avg 1.78 Billion Market cap per coin by end of 2020 3200 Cryptocurrencies /6 Trillion = Avg 1.87 Billion Market cap per coin by end of 2021
Meaning, at a $6 Trillion market cap, IF BABBS does better or equal to average, it will have a 1.87 billion market cap or be at roughly 10 cents at most.
Secondly, the list below are the market caps of the biggest banks in Europe. $1 BABB would mean a $20 Billion market cap, do you honestly think a Blockchain Bank with maybe 20 staff max and no revenue, No positive cash flow and only a banking license as an asset (assuming they get it) is worth close to what Standard Chartered bank is worth? Its pretty absurd to say the least!
• HSBC Holdings — UK — $126 billion. • Lloyds Banking Group — UK — $60 billion. • Banco Santander — Spain — $58 billion. • UBS Group — Switzerland — $57 billion. • BNP Paribas — France — $56 billion. • Intesa Sanpaolo — Italy — $46 billion. • ING Group — Netherlands — $43 billion. • Standard Chartered PLC — UK — $27 billion.
Thirdly, now I can already hear the chorus of “Oh but Ripple is worth more than $30 Billion” etc etc, yeah but you know WHY it worth that much? Ripple is literally taking traditional banking head on, it intends to replace SWIFT all together, the global payment system, and their own blockchain technology is already in place and been tested by multiple banks. Ripple is at this price because every partnership it garners is like a turbo boost for its price, it gets bumped up higher, up until now there are at least 150 PARTNERSHIPS with banks worldwide: https://steemit.com/ripple/@inferisgripple-partnerships-spread-this-sheet
https://globalcoinreport.com/how-ripple-xrp-outdid-the-transaction-speed-of-visa/ So, lets now look at what BABB has got shall we? Most of whats it the whitepaper and Roadmap us vague and saidly lacking details. There isn’t much to cover so it’ll be quick:
As I said, Ripple is at the price it is at because each and every partnership and good news announcement is like a turbo boost tossing it higher. All BABB has going for it is a banking license, and then the price will likely fizzle out.
Another Big mistake BABB is making is that it has solely branded itself as a Bank to service the Microeconomy, sound like a good idea? Not really, why? Because you are targeting all these poor countries where people can’t get bank accounts! Why would you box yourself into targeting customers with no money??? You need to service BOTH the macro and micro economy! The biggest elephant in the room is ASIA, you are missing Asia in your partnerships and clients. Bahrain, Middle East or the UK is nothing compared to the Asian Economy. We all know Koreans and the Chinese add a huge contribution to the Crypto market cap, by excluding the Asian market, you will not succeed, period. By comparison, look at Ripple and how many Japanese and Korean banks partners it has under its belt!
Lastly but definitely not least. BABB has an incompetent CEO. Look at Brad Garlinghouse of Ripple and how often he does his own marketing and shilling on Bloomberg versus Rushd. Hell Rushd doesn’t even want to appear in his own BABB videos, which is a disgrace.
And THAT is why BABB will never reach $1, at least not without major team restructuring. An Angel investor or Buyout would be ideal after obtaining the banking license.
submitted by Realist_Crypto to u/Realist_Crypto [link] [comments]

has anyone used bitcoin-brokers yet?

as a non US resident ( im from central america) , im in need to buy bitcoins although most online service arent available for me. Has anone used www.bitcoin-broker.org yet ? are they reliable or is it a scam?
Can anyone tell me where to b bitcoins woth western union or moneygram ??
THAK YOU
submitted by bitcoininquiry1 to Bitcoin [link] [comments]

Starting a "Bitcoin To Cash" startup. I have a few questions for you BTC experts.

I have been investing in tech startups for a little over a decade now. I heard about bitcoins when they first came out, but never really followed up with them as I didn't think it was a big deal at the time. Looking back I obviously wished I watched things a bit closer!
Anyways, my business partner and I were looking to get with some programmers from other tech startups we've worked with in the past to create a "bitcoins to cash" company.
Users would be able to exchange bitcoins for:
The cashier's checks or money orders could be mailed out to some other person or company on their behalf. Sort of like using bitcoin to send money to a friend or pay your electric bill.
After searching around A LOT we haven't really seen anybody doing this yet. I've seen services that allow people to connect with other individuals to do these trades and transfers but a lot of them end up getting scammed.
There's obviously a reason that a service like this doesn't exist large scale yet. My guess would be due to the possibility of fraud and money laundering, so obviously our transfer fees would have to be pretty high to cover ourselves from that.
Long story short, we are very well versed in online tech startups but neither of us feel like we 100% fully understand the BTC bitcoin world. If there are any bitcoin experts or just those of you who use bitcoin on a regular basis, we would love to hear your feedback about whether or not this is a good idea, if you would use the service, any BTC weaknesses we need to look out for, any features you would suggest, etc..
I'm going to get back to work but will come check this thread later today after I've given you guys enough time to fill it up with (hopefully) good information.
Obviously if this transforms from idea to a fully working service we will give redditors and those of you who contributed something in return.
edit #1 - After nearly 3 dozen replies, some in this thread and most via private message, we are going to put up a Beta version of the service to see how it plays out for those early adopters looking to test things for us. The Beta version will be up this weekend. Please note that we will likely only offer Money Orders, Cashier's Checks, and maybe Moneygram only during the Beta period while we work the kinks out. Keep an eye here for updates in the next day or so!
edit #2 - Domain has been registered and pointed to our web servers. Commercial banking account has been set up under our new D/B/A and is being linked to our BTC Wallet. CPA has been consulted with. Our web programmer has been given instructions to put up a "bare-bones" version with very limited features. This will ensure we can launch the Beta version quickly to those who are requesting it and this will let us work out the kinks while minimizing liability. Our web programmer says everything will be up tonight or tomorrow. Withdraws/Transfers won't be processed until our bank verifies that it has been linked to our BTC wallet. We will post the URL this weekend once a transaction can be completed from start to finish.
edit #3 - A little bit of information about the team that we will be working with and about my personal experience in the finance industry, dealing with MSB's, and anti-money laundering training can be found in these two posts:
edit #4 - We have come up with a list of exchanges that we will offer. The setup is simple, use your Bitcoins and have them exchanged into:
submitted by BitcoinStartup to Bitcoin [link] [comments]

[Table] IAmA: I'm the CEO of an online underground black market, AMA

Verified? (This bot cannot verify AMAs just yet)
Date: 2013-06-08
Link to submission (Has self-text)
Questions Answers
Aren't you worried about bringing more attention to your site by doing something like an AMA rather then just relying on word of mouth? By doing something like this don't you run the risk of law enforcement agencies paying more attention to the fact that you exist? We want to bring attention to the site and bring our vendors more buyers. Law enforcement is going to be aware of us (and probably already is) regardless of the way we choose to put our product out there.
What made you decide to go into the business of running such a site? Just the money? Or other reasons? It was the appeal of providing a service that we believe in and a business decision. Prohibition is a backwards process.
We have taken technical measures to prevent and offset these risks if they arise. As for our identities being revealed, if a competitor is able to do it then law enforcement would be able to do it. That would be of a larger concern to us. We take many measures to protect our identity.
There are many legal items for sale as well, but the bulk of our items are drug related. We have no preference over what gets sold (assuming it does not break our restricted items rules).
We are indeed. We're looking for a web marketeSEO willing to be paid in Bitcoin.
Im curious as somewhat of amateur SEO marketer, how does one market a Tor Site? Surely it can't be done in regular ways such as adwords, keyword optimization, etc, etc. It is true that we can't use regular methods however we are after a person who can make YouTube how-to videos, create forum posts in various communities to increase the exposure to our site.
I've done some marketing and SEO, so just drop me a PM if you still need somebody. Thanks for your interest plerer, please PM us with your experience.
So how many inboxes have you gotten from people asking for jobs? If you aren't sick of them already, I'm interested in at least more information. I'll send a message should you reply to this. We've received about 20, but we're still looking.
Are you looking for resumes, cv's? how are you choosing a candidate? Based off previous work, and whatever data the applicant is comfortable providing.
What are your restricted items? And why don't you allow people to sell them? Restricted items include anything related to paedophilia, poisons, loans, investment opportunities, assassination services or anything which can inflict harm on another person. If you infringe on these rules we will terminate your account instantly.
Trading any digital currencies (for example Bitcoins, Litecoins, Ukash, Moneypak, Western Union, Moneygram, etc) is forbidden and will result in the items being removed and a warning or ban being issued to the vendor. This is to prevent scams.
The trading of counterfeit money is forbidden, and will result in a warning or ban being issued.
We also do not allow listings for 0.01 in the money section. Your items must have a full cost associated to them to prevent people processing transactions outside of the escrow system.
We allow the purchase of physical fiat for Bitcoins and/or Litecoins (has to be legitimate currency; not counterfeit). This is the only exception to the currency rule. We do not, however, allow the reverse of these transactions i.e. customers mailing vendors real currency as this is outside the escrow system.
As an example, if you were a vendor and you wanted to buy $1000 worth of Bitcoins/Litecoins you could do so by making a listing for $1000 labelled "Buying $1000 worth of Bitcoins/Litecoins", and then mail the real currency to the purchaser of your listing in exchange for their Bitcoins/Litecoins that are currently travelling through the escrow system.
Why are investment opportunities banned? Because they're commonly used as scam tactics.
What about fake Ids? Can you guys make/sell those? Our vendors sell a lot of those.
Why is counterfeit money banned? Part of the "harm to others" rule? It's frequently used in scams. When we allowed it, 100% of the counterfeit money sales were scams. It's also hurting local businesses etc.
Would you mind posting a link to the be-all, end-all, one stop tutorial installation page to safely and securely start using TOR, Bitcoin and Atlantis? 1) Download and install the Tor browser bundle - Link to www.torproject.org 2) Download and install the Bitcoin client - Link to bitcoin.org 3) You'll need to obtain some Bitcoins. The most popular exchange is MtGox (www.mtgox.com). They offer a few ways in which you can convert your local currency to Bitcoins. 4) Using the Tor browser, visit Atlantis (URL can be found at /Atlantis) 6) Click on the deposit BTC link under account settings and transfer your Bitcoins to that address. You'll need to wait for 1-2 hours before the transfer propagates across the network. 7) You can then shop for any items you would like whilst being confident on security and privacy.
Someone help me with step 3? Its just telling me I cant open the program. That step is optional, you don't HAVE to use PGP. Especially if you just plan on having a browse.
Just commenting to find this later. )
Can you send me some drugs? Edit: Not a cop. Our vendors can.
How do you rate yourself compared to the road? We've had no downtime.
Our site is much more responsive.
We have cheaper commission rates allowing sellers to make more profit on their sales and buyers to buy them for cheaper.
We have automated PGP encryption of messages for the members who refuse to send their messages using PGP. We have an advancement fan management system, allowing sellers to reach out to all of their customers.
We have a more 'modern' user interface.
We have buyer feedback (none of the other marketplaces have this functionality).
We have an anonymous feedback system that allows you to determine is feedback is fake, but at the same time does not reveal anything about your buying patterns.
We support Litecoin as well as Bitcoin (the first market to support multiple currencies).
We listen to our user feedback, we have a rapid development cycle and new features are constantly being improved upon and added.
I'd like to personally thank you guys for everything you do to make online drug purchasing a safer and better experience. +altcointip 1 ltc. That's very kind of you, thank you! :-)
We've had no downtime. What do you say to all of the rumors that you were funding the DDoS aimed at the Road when your site first came online to pull traffic? We released an official statement regarding those accusations, it can be found on our forum. In short: We had nothing to do with it. It was speculative rumor.
What are you doing to cut down on scams and discrimination against new buyers? If your rules are that vendors are not supposed to deal outside of escrow, what are you doing about those vendors who require it in their policies? > "Yes we have caught scammers, but we've banned them swiftly. We pushed out new changes earlier that helps reduce the number of scams, all feedback contains the amount of the purchase, preventing users from leaving fake feedback on $0.01 listings. It also contains an 'anonymous' user ID so sellers/buyers can confirm whether the user leaving feedback has left feedback before. This helps catch scammers leaving fake feedback. The ID is unique to the sellebuyer combination, so it cannot be traced across transactions to determine a buyers buying patterns."
Further to the above we've made it easy to report suspicious vendors, there's a button directly on their profile that will notify support.
In regard to the vendors that require it in their policies, they will be warned or banned if they request FE without meeting our FE requirements (a minimum of 30 5/5 transactions). This system has already saved countless people from scammers.
New buyers are encouraged to purchase small orders first to build their reputation and feedback and find vendors who are pleasant to deal with. I haven't seen a problem of buyer discrimination yet (apart from on scammer profiles saying 'you must FE because you have no feedback').
If I am not mistaken, the Black Market Reloaded also has buyer feedback. Not that I would know, as I never go to such sites... I'm not sure, but I've heard its a haven for scammers, and they have no escrow process.
How about weighting reviews based on the amount of funds transferred? E.g., a $10 transaction review is worth 10x the review of a $1 transaction. This is a good idea, however this would impact the freshness of the feedback if we sort it by the value.
Aren't you worried the authorities are tracking this ama? They probably are. We aren't worried.
Why did you decided to accept Litecoin first? Also do you think Litecoin price will go up because of your site? Also how long did it take to prepare and set everything up? We wanted to promote Litecoin because it has a few awesome improvements over Bitcoin, so we started with Litecoin. I think a lot of the value has come from Atlantis already, and more will come from Atlantis with our growth. It's taken a year to get the site where it is at the moment with a few developers working on it mostly full time.
I've checked out atlantis, purely out of curiosity. I don't do drugs at all, but it seems that the prices are higher than street prices. Why do people prefer to buy on Atlantis? Is it due to knowing they're getting good quality? It seems riskier than buying drugs on the street. Greater quality, ease of access, safer than dealing with unknowns on the streets. A lot of people don't have access to a friendly in-person dealer.
The prices vary, some are actually cheaper then what you can find on the street.
Some of the main reasons why people choose to purchase off Atlantis include;
1) Quality of the merchandise. Because of the sites feedback and reputation system, you can be certain that you will be receiving an unadulterated item.
2) Order in the comfort of your own home and have the parcel delivered to you (with tracking).
3) Thousands of items to choose from. Sometimes a local dealer will not have a product you are after.
4) Deal with currencies which can be used to purchase items without the reliance of fiat.
5) Encrypted correspondence, more secure then messaging/calling your local dealer.
So how is it possible to get delivery anonymously? i mean, at some point don't you have to give your name and address to the seller? And if they are ever busted and you are in their database as a customer; aren't you kinda...you know...fucked? Thanks for the AMA by the way. Some purchasers use fake names to hide their identity, others don't. We have a strict rule where vendors must remove all information about their clients once the parcel has been shipped (e.g from their computer). Also, once the order has been shipped, the address is automatically purged from our database.
How do you enforce a rule like that? what's to stop a vendor from simply writing an address down on a sticky note? Unfortunately we can't enforce it, we can only advise them to do it. Our system also permanently deletes this information after first viewing.
So...you're an online drug dealer? How is this legal or how are you skirting laws to keep yourself from prosecution? I don't know of any countries/territories where selling Heroin would be legal. We're not a dealer, we provide the platform for dealers to sell their products in a secure environment. The Tor network hides our service from government officials. You can have a look into "Tor hidden services" if you're interested.
How do you usually guarantee the safety of your "company' and the buyer? We use a Tor hidden service to hide our service from the prying eyes of government officials: Link to www.torproject.org
Do you ever deliver in bulk? This allows our servers IP address and location to remain hidden.
Are there any suppliers that you deal where they are a legal company on the surface? Users must access our site using the Tor hidden browser, protecting their identity: Link to www.torproject.org
What are your personal political views? What about certain topics like child pornography, necrophilia or any other cultural taboos that are usually at the expense of another unwilling person? We don't deliver anything, but our sellers commonly deliver in bulk. We facilitate the platform, the sellers are from the general public.
What are your top non-drug related products? See above.
Is your company white collarish or do you have people who work with you that use violence and intimidation? We do not allow listings such as child pornography and necrophilia. We do take a moral stance, there's a large difference between child pornography and drugs.
Is government bribery common with your company? Probably porn.
We don't use violence or intimidation, nor do we have any need to. We're an online platform. The idea is to move away from the violent streets.
No, that doesn't happen (or hasn't happened yet).
Oh I see so basically your site is like the middle man am I correct? Alright that does make a lot of my questions moot. That's correct.
Have you had any scares before? None.
How illegal is Atlantis? I mean, not for the vendors/buyers, but how illegal is it as the CEO of the website? (Basically, how much trouble would YOU get into, if shit hit the fan?) Google "farmers market bust" for an example.
What did those men do wrong, and do you think you've solved to that issue? A lot of silly mistakes and using very traceable means of trade.
A screenshot of a website doesn't really prove anything. Do you have any proof that you are the CEO of this company? I've added a link to the AMA on the footer of the website.
Without going into any personal details (obviously) what brought you to this biz? I.e. formal versus informal education... comp sci vs. Mba-type edu... or whatever ur able to say. Can't go into education specifics sorry.
Also, as someone who is intrigued and has made half-assed attempts to get a bit/litecoin account setup and given up after hitting various obstacles, am I right to assess your biggest barrier to growth are the hurdles customers need to jump through to make transactions? Or am I just a stupid brain? If you'd like any assistance getting set up let us know, we can point you in the right direction. The seeming complexity of cryptocurrency is definitely a barrier to growth. It's all relatively simple once you get your head around it though. Bitcoins/Litecoins are far easier to obtain in certain countries than others.
Do you keep lawyers on retainer? We have a few lawyers using our platform to offer legal advice for a fee.
Hi. I have never posted/commented on reddit before, after about 5 years of being a lurker. This is too cool an opportunity not to. It's progressed to a full time job for us at this point. There isn't a day we aren't working on Atlantis.
How many hours a week on average do you work? What do you do outside of work for fun? What kind of music do you listen to? I'd love to answer those questions but they're a bit revealing sorry.
What is the biggest security threat you have had? We did a lot of planning in relation to this and haven't had any security issues so far. Our biggest concern would be if a security flaw was discovered in the technology we rely on (e.g flaw in the onion routing protocol or the Bitcoin protocol).
I've heard these sites are much more common than people realize. How much traffic do you guys get? We're one of the largest markets, and the most refined. We get thousands of visitors and hundreds of orders are processed through Atlantis a day.
How come you can post this here and not be instantly arrested? Link to www.torproject.org
Link to en.wikipedia.org
What does one sell on a black market that falls under the "Home & Garden" section...? Ikea lamps...
And nutrient dense soil, growing equipment, CFL's, HPS lamps, etc.
Why do buy / sell these types of items on the black market rather than any major online retailer? Since we use cryptocurrencies its a good way for people to use them to buy other items. Think of it like eBay but with a twist.
Are you worried that your usage of Tor contributes to undermining its image as a legitimate utility for online anonymity, in the same way that Bittorrent is often immediately associated with piracy? We hope that our usage does not tarnish its perception of being a legitimate tool. The core of our operation is to give people access to a 'true free market' whilst still protecting our users and ourselves. However just like a knife - it can be used for good and for bad.
We can only hope that the media and government doesn't portray Tor as a tool used by 'terrorists and criminals'.
Have you caught any scammers yet? Yes we have caught scammers, but we've banned them swiftly. We pushed out new changes earlier that helps reduce the number of scams, all feedback contains the amount of the purchase, preventing users from leaving fake feedback on $0.01 listings. It also contains an 'anonymous' user ID so sellers/buyers can confirm whether the user leaving feedback has left feedback before. This helps catch scammers leaving fake feedback. The ID is unique to the sellebuyer combination, so it cannot be traced across transactions to determine a buyers buying patterns.
Whilst you have swiftly banned sellers, can't they just make a new account? With the nature of TOR you couldn't ban their IP could you? That is correct, we cannot ban them by IP (there is no distinction on the Tor network). They would need to pay a new vendor account fee every time they create a new vendor account.
What are you doing to cut down on scams and discrimination against new buyers? We have implemented a few metrics in the feedback system, these include;
1) Buyer and seller feedback, rated in quality (out of 5).
2) Total purchases made.
3) Account age.
4) Item price in feedback history.
5) User hash which allows people to identify if the buyer is unique or the same person leaving fake feedback whilst still keeping their username anonymous.
We are currently working on two new metrics, these include;
1) Was the parcel received.
2) The users historic purchase total.
Unfortunately new buyers will always be a risk for vendors however with parcel tracking and the escrow system, these risks can be mitigated.
What's the best selling item? The most popular item is Cannabis.
What non-legal things other than drugs are done through your site specifically what's the most common things non-drug? Popular non-legal items other then typical illicit drugs include money handling services, identity services (generating passports) and cybercrime (malware).
The most common popular legal items include books, digital goods, legal money services and erotica.
So the site says I can get a FREE half gram of hash... do they actually send you that? Yes, vendors commonly offer free incentives to gather good reputation at the beginning of their seller career.
How did you get your first customers ? How did you advertise the site like this in the first place and create the initial market base? We posted an announcement in two cryptocurrency community forums and the news spread quite quickly.
We also offered incentives for vendors at other market places to sign up and take advantage of trading with no commission fees.
Where does your revenue come from, if you have no commission fees? Is it purely from cost associated with becoming a vendor? When we were running the 3 month commission free special, our income solely came from the vendor registration fee.
Our current commission structure can be seen below;
Value less than or equal to $50 6% Value less than or equal to $150 5.5% Value less than or equal to $300 5% Value less than or equal to $500 2% Value less than or equal to $1000 1.5% Value greater than $1000 1%
Do you have a retirement plan? Like quit and let someone else take over in a year? Everyone does gets busted in the end. Hell even anonymous. Usually via neverending greed or pride. We don't plan on retiring anytime soon, we've only just begun :)
How much do you make ?(give us a range ?) Is the money vs risk worth it ? Unfortunately we can't give you specifics on how much we earn however all of our profits have been used to enhance our platform. We take more pride in forming a true free market place rather than the dollars earned.
That's actually pretty cool, thanks. Oh also what made you want to get into this buisness? We love cryptocurrency, libertarianism, technology and saw an opportunity to make a free market place when SR was experiencing frequent down time.
Are you a regular customer at Atlantis yourself and what do/did you buy? We do everything on Atlantis except for buying products on it ;)
What is the craziest item you have ever sold? The top two items would be used sex toys/underwear (female vendor) and fig tree cuttings.
Fig tree cuttings? Can't someone just buy that on Ebay? O.o The ones from Atlantis are prettier.
How pure is the coke? It depends on the vendor. They advertise the purity on their product, the majority of it seems to be in the 85% range.
Why would the purity matter, and wouldn't someone prefer 100% pure over something that was cut with other items? Purity matters because you require less of the drug to get the same effect. Other than that it's mostly irrelevant. Yes, you would prefer 100% purity. 85% purity is very high compared to most street cocaine. On average, street cocaine is around 50% purity.
What exactly is usually put in cocaine other than coke to dilute the purity? Benzocaine, Caffeine, Phenacetin and sugars are the most common impurities.
Doesn't "CEO" relate to corporate organizational stucture? Why is a black market operating as a legal company would? We're still an organization and an organization requires leadership.
What's up with al the cats??? Incognito mode.
How much does your physical location matter to run a business like yours? Would it be any easieharder if you were in say, Somalia or on a ship in the ocean in International waters? We have team members in various different countries. I would say physical location is relatively irrelevant. We can access our systems from anywhere, and our location and the server location is protected by the Tor hidden service network.
Is there anything that you will not sell on your website? Restricted items.
Restricted items include anything related to paedophilia, poisons, loans, investment opportunities, assassination services or anything which can inflict harm on another person. If you infringe on these rules we will terminate your account instantly.
Trading any digital currencies (for example Bitcoins, Litecoins, Ukash, Moneypak, Western Union, Moneygram, etc) is forbidden and will result in the items being removed and a warning or ban being issued to the vendor. This is to prevent scams. (See exceptions below for exceptions to this rule).
The trading of counterfeit money is forbidden, and will result in a warning or ban being issued.
We also do not allow listings for 0.01 in the money section. Your items must have a full cost associated to them to prevent people processing transactions outside of the escrow system.
We allow the purchase of physical fiat for Bitcoins and/or Litecoins (has to be legitimate currency; not counterfeit). This is the only exception to the currency rule. We do not, however, allow the reverse of these transactions i.e. customers mailing vendors real currency as this is outside the escrow system.
As an example, if you were a vendor and you wanted to buy $1000 worth of Bitcoins/Litecoins you could do so by making a listing for $1000 labelled "Buying $1000 worth of Bitcoins/Litecoins", and then mail the real currency to the purchaser of your listing in exchange for their Bitcoins/Litecoins that are currently travelling through the escrow system.
Regarding the IT infrastructure, Do you own the servers that host the website? How are the servers connected to the internet? Is it a corporate leased line or just some dodgy hacked cable modem :) Without going to depth, we use dedicated servers provided by a hosting company. All servers are equipped with a 100Mbit WAN link.
I'm probably misunderstanding Tor a bit here then, but how come the hosting company doesn't get into hot water and told to stop hosting Atlantis? Tor traffic looks similar to SSL and our hosting provider doesn't snoop on our servers :-)
Do you pay for that in bitcoins? Is the server encrypted such that someone with physical access couldn't discover its contents, should they choose to? We pay for the servers via anonymous methods and the disks are encrypted. However when running certain applications, the vulnerable point would be RAM.
I'm not sure if the second is possible whilst also offering an internet service, you must have unencrypted stuff in RAM? We also monitor the data center for unauthorized access.
. To me hosting seems to be the weakest link in your personal security (I'm sure users are fine with your encrypted messages). Have you considered distributed hosting on other darknets like freenet? For all the services we offer, we have redundant servers ready to fail over to.
I hope i'm not late to the party, but do you have any thoughts/reactions towards the current chatter regarding PRISM and the NSA? Maybe you can talk about some precautions you took or are taking as a result? Never too late. It's quite scary actually. Tor, SSL, PGP, OTR, all of these technologies are your friends.
Although I will say this is nothing new, the NSA has been doing this for years now. I guess it's finally caught up to them.
We haven't started taking any new precautions as a result, we were already using them.
Would you say that those tools are your friends even if you're not interested in anything too illegal? Props for your efforts though, must be interesting to run that kind of company :) Definitely, with PRISM making headlines this week its always good to protect your privacy.
What is the airspeed velocity of an unladen swallow? I believe it's 11 meters per second.
Had anyone ever been caught in sting operation? We haven't had any incidents reported to us yet (most vendors are very careful and security conscious) however we have read a case in the past where a vendor was caught on a different market place. The market place wasn't to blame, it was just that the vendor wasn't careful with his operation and thus got discovered.
Whats a "virtual credit card"? Prepaid virtual credit cards aren't issued by a bank, have no contract, usually have a set amount and can be used online.
Can't access your site (yet) but do you have vendors in Australia? We have a few Australian vendors, yes.
You're probably not still around, but is it even possible to order items on your site from Japan? I have not even looked at Atlantis or SR because I don't think it's even possible. To my knowledge yes. But don't quote me on that. I think I remember seeing a few Japanese located vendors.
How does a typical black market starts up? For us, we love cryptocurrency, libertarianism, technology and saw an opportunity to make a free market place when SR was experiencing frequent down time.
When deciding for your brand or website name. What other names did you consider besides Atlantis? I like the name it has now just curious to know of the brainstorming behind the site. Also I love your website! Thank you! I can't actually remember any of the other names we considered, probably because they were all bad. Atlantis stuck from the beginning!
And you're welcome, thanks for using it.
Last updated: 2013-06-12 05:44 UTC
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Is WAVE Better Than Western Union & MoneyGram? Is It Safe ...

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