Episode 166 - Adam Levy is Back, the Crypto Movie is coming, and was NEO down?
- Rapid Fire
- Stellar (XLM) Listed on Coinbase pro
- Someone posted on reddit that the sites CrashDoge, CrashingBitcoin, and CrashingCrypto are scams...WOW that was a hard one to figure out. Also they are run but someone named HERPES.
- You actually can earn BAT now on the developer Brave Browser, we incorrectly reported you could before.
- OneCoin leader arrested for scamming in the US.
This Stupid Ass Movie - Shoutout @anthony in the CB Discord.
The NEO Blockchain was DOWN for over an hour. (BULLISH OR BULLSHIT) - Brent
- This was because of ONE node.
- Obviously the response was "centralized POS"
- But, this is what we're supposed to get.
- The way their consensus works is that if they do have a downed node, they keep trying until they get consensus. If they don't get it, they try 15 seconds later, then 30, then 60, then 120, then 240 etc.
- They is actually based on probability - once a node goes down this starts firing and most of the time it happens on the first try, but it COULD go as high as 10 retrys in a very unlucky scenario which would be over 4 hours.
- NEO is still centralized, and that's part of your tradeoff.
- Binance adding Ripple to their Trust Wallet. Also, credit card support available. Brent
- Their trust wallet is similar to other offerings by coinbase, ENJ, etc. It's in the app store.
- They have plans for web, desktop, and hardware wallets.
- There's a bunch of coins in this one - ETH, ETH Classic, Gochain, POA Network, Vechain, Tron, Wanchain, Callisto, ICON, Bitcoin, Litecoin, BitcoinCash, TomoChain, Dash, Zcash, Zcoin, XRP - Legit don't even know what half of those are.
- The person that nails this first could be the paypal.
- Metamask is continually improving their experience though.
- Coinbase has something similar.
ETH Is not a security @Karim Baruque this looks like it's all you
- Story starts with a comment back in June of 2018 from the SECs Director of Corporate Finance (William Hinman)
- "Based on my understanding of the present state of Ether, the Ethereum network and its decentralized structure, current offers and sales of Ether are not securities transactions."
Remember the Howey test?
- Citrus farmers in FL 1946, went to the supreme court after SEC sued
- SC developed landmark test. :A transaction is an investment contract if...
- It is an investment of money
- There is an expectation of profits from investment
- the investment of money is in a common enterprise
- Any profit comes from the efforts of a promoter or 3rd party
"When the efforts of the third party are no longer a key factor for determining the enterpriseâ€™s success, material information asymmetries recede. ... the ability to identify an issuer or promoter to make the requisite disclosures becomes difficult, and less meaningful."
- A group wrote a letter to the SEC Chairman to see if this was just an opinion or represents position of the SEC
- "I agree with Director Hinman's explanation of how a digital asset transaction may no longer represent an investment contract if, for example, purchasers would no longer reasonably expect a person or group to carry out the essential managerial or entrepreneurial efforts. Under those circumstances, the digital asset may not represent an investment contract under the Howey framework."
- Adoption Segment. @Adam Levy
- Implementation of crypto in the real world.
- $0.40 off per gallon if you use btc. What other use cases are there?
- Austria has advertisements in subways for Bitcoin (bitpanda)
- there is a website called shitexpress.com where you can buy a pile of dung and send it to someone you don't like using bit coin.
- yoga studios, restaurants, coffee shops, escape roomsâ€”basically savvy business owners are starting to pop up with more options of paymentâ€”some crypto over credit cards
- first time seeing payment in an SF coffee shop in 2014
- can any business use Cash app for bitcoin?
- Cool chart of crypto ownership in America @Adam Levy
- 8% of Americans own cryptoâ€”think it was closer to 1-2% in early 2017
- too difficult to understand and too complicated to understand is a solid portion of . I can sympathize as it is not intuitve at all but once you learn it, it becomes second nature. Think going from windows to ios
- most are just "not interested"
- some say it's too high risk which, fair enough
- During the 2017 boom, there were roughly 40k new CB users a week signing up. I'd say 8% seems about right.
- Colorado Digital Token Act. Colorado is "trying to provide clarity for the sector. That doesn't mean charlatans can violate security laws"
- "digital token" as â€œa digital unit with specified characteristics, secured through a decentralized ledger or database, exchangeable for goods or services, and capable of being traded or transferred between persons without an intermediary or custodian of value
Crypto Around the World
From the zman in CB Discord:
with all the hype surrounding game of thrones return in april, the BBs were wondering:
- which GOT character do you believe you are most like? and
- which GOT character reminds you the most of your co-host(s)?
Brent hates Enjin (not quite)
Samsung Blockchain Wallet Less Shitty
- ETH, TUSD, BAT, REP, REVAIN, Chainlink, Aeternity, Paxos, Maker, USDC, PundiX, BNB, CosmoCoin, Bytom, OMG, Pupulous, Vechain, ZRX (NO TETHER)
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