The biggest announcement of the month was the new kind of decentralized exchange proposed by @jy-p of Company 0. The Community Discussions section considers the stakeholders' response. dcrd: Peer management and connectivity improvements. Some work for improved sighash algo. A new optimization that gives 3-4x faster serving of headers, which is great for SPV. This was another step towards multipeer parallel downloads – check this issue for a clear overview of progress and planned work for next months (and some engineering delight). As usual, codebase cleanup, improvements to error handling, test infrastructure and test coverage. Decrediton: work towards watching only wallets, lots of bugfixes and visual design improvements. Preliminary work to integrate SPV has begun. Politeia is live on testnet! Useful links: announcement, introduction, command line voting example, example proposal with some votes, mini-guide how to compose a proposal. Trezor: Decred appeared in the firmware update and on Trezor website, currently for testnet only. Next steps are mainnet support and integration in wallets. For the progress of Decrediton support you can track this meta issue. dcrdata: Continued work on Insight API support, see this meta issue for progress overview. It is important for integrations due to its popularity. Ongoing work to add charts. A big database change to improve sorting on the Address page was merged and bumped version to 3.0. Work to visualize agenda voting continues. Ticket splitting: 11-way ticket split from last month has voted (transaction). Ethereum support in atomicswap is progressing and welcomes more eyeballs. decred.org: revamped Press page with dozens of added articles, and a shiny new Roadmap page. decredinfo.com: a new Decred dashboard by lte13. Reddit announcement here. Dev activity stats for June: 245 active PRs, 184 master commits, 25,973 added and 13,575 deleted lines spread across 8 repositories. Contributions came from 2 to 10 developers per repository. (chart)
Hashrate: growth continues, the month started at 15 and ended at 44 PH/s with some wild 30% swings on the way. The peak was 53.9 PH/s. F2Pool was the leader varying between 36% and 59% hashrate, followed by coinmine.pl holding between 18% and 29%. In response to concerns about its hashrate share, F2Pool made a statement that they will consider measures like rising the fees to prevent growing to 51%. Staking: 30-day average ticket price is 94.7 DCR (+3.4). The price was steadily rising from 90.7 to 95.8 peaking at 98.1. Locked DCR grew from 3.68 to 3.81 million DCR, the highest value was 3.83 million corresponding to 47.87% of supply (+0.7% from previous peak). Nodes: there are 240 public listening and 115 normal nodes per dcred.eu. Version distribution: 57% on v1.2.0 (+12%), 25% on v1.1.2 (-13%), 14% on v1.1.0 (-1%). Note: the reported count of non-listening nodes has dropped significantly due to data reset at decred.eu. It will take some time before the crawler collects more data. On top of that, there is no way to exactly count non-listening nodes. To illustrate, an alternative data source, charts.dcr.farm showed 690 reachable nodes on Jul 1. Extraordinary event: 247361 and 247362 were two nearly full blocks. Normally blocks are 10-20 KiB, but these blocks were 374 KiB (max is 384 KiB).
Update from Obelisk: shipping is expected in first half of July and there is non-zero chance to meet hashrate target. Another Chinese ASIC spotted on the web: Flying Fish D18 with 340 GH/s at 180 W costing 2,200 CNY (~340 USD). (asicok.com – translated, also on asicminervalue) dcrASIC team posted a farewell letter. Despite having an awesome 16 nm chip design, they decided to stop the project citing the saturated mining ecosystem and low profitability for their potential customers.
Changenow announced the option to buy DCR with fiat.
TokenPride: "We are seeking feedback on the general setup of our payment processor. We have tried to make it simple and user friendly. 10% of all purchases made in Decred will be donated to the Decred Development fund - and we will be releasing original Decred designs in the future".
BlueYard Capital announced investment in Decred and the intent to be long term supporters and to actively participate in the network's governance. In an overview post they stressed core values of the project:
There are a few other remarkable characteristics that are a testament to the DNA of the team behind Decred: there was no sale of DCR to investors, no venture funding, and no payment to exchanges to be listed – underscoring that the Decred team and contributors are all about doing the right thing for long term (as manifested in their constitution for the project). The most encouraging thing we can see is both the quality and quantity of high calibre developers flocking to the project, in addition to a vibrant community attaching their identity to the project.
The company will be hosting an event in Berlin, see Events below. Arbitrade is now mining Decred.
Campus Party in Brasilia, Brazil. @girino, @Rhama and @matheusd talked about Decred. Matheus was interviewed by a TV channel. Check this quick report about the event, click "Show newer" to continue reading. (photos: 123)
Blockchain Summit in London, UK. This was not a full blown presence with stand but rather investigation of opportunities by @kyle and @Ani. The resulting detailed report is a good example of a document advising to stakeholders whether it is worth spending project funds.
Meetup in Berlin, Germany on July 18. @jz will give a talk and Q&A about Decred and chat with Ele from @oscoin about incentivizing developers. Hosted by BlueYard Capital.
Hey guys! I'd like to share with you my latest adventure: Stakey Club, hosted at stakey.club, is a website dedicated to Decred. I posted a few articles in Brazilian Portuguese and in English. I also translated to Portuguese some posts from the Decred Blog. I hope you like it! (slack)
Decred Assembly - Ep20 - Governance: Driving the Future (youtube) @cburniske and @traceagain discuss the importance of governance protocols being foundational and problems with delegated proof of stake
"I think that developers in the future are going to base their decision on where to build on the basis of governance and community. And so I look for good governance mechanisms and strong communities in blockchains." (@decredproject)
What is on-chain cryptocurrency governance? Is it plutocratic? by Richard Red (medium)
Apples to apples, Decred is 20x more expensive to attack than Bitcoin by Zubair Zia (medium)
What makes Decred different and better from other cryptocurrencies? (cxihub.com)
Community stats: Twitter followers 40,209 (+1,091), Reddit subscribers 8,410 (+243), Slack users 5,830 (+172), GitHub 392 stars and 918 forks of dcrd repository. An update on our communication systems:
Matrix chat logs are nowviewable on the web with the exception of some channels that are not bridged. The new web logs means our chats are now fully public and indexed by search engines.
Slack had an outage on Jun 27 that disturbed communications for a few hours, discussions continued on Decred's bridged platforms.
Jake Yocom-Piatt did an AMA on CryptoTechnology, a forum for serious crypto tech discussion. Some topics covered were Decred attack cost and resistance, voting policies, smart contracts, SPV security, DAO and DPoS. A new kind of DEX was the subject of an extensive discussion in #general, #random, #trading channels as well as Reddit. New channel #thedex was created and attracted more than 100 people. A frequent and fair question is how the DEX would benefit Decred. @lukebp has put it well:
Projects like these help Decred attract talent. Typically, the people that are the best at what they do aren’t driven solely by money. They want to work on interesting projects that they believe in with other talented individuals. Launching a DEX that has no trading fees, no requirement to buy a 3rd party token (including Decred), and that cuts out all middlemen is a clear demonstration of the ethos that Decred was founded on. It helps us get our name out there and attract the type of people that believe in the same mission that we do. (slack)
Another concern that it will slow down other projects was addressed by @davecgh:
The intent is for an external team to take up the mantle and build it, so it won't have any bearing on the current c0 roadmap. The important thing to keep in mind is that the goal of Decred is to have a bunch of independent teams on working on different things. (slack)
A chat about Decred fork resistance started on Twitter and continued in #trading. Community members continue to discuss the finer points of Decred's hybrid system, bringing new users up to speed and answering their questions. The key takeaway from this chat is that the Decred chain is impossible to advance without votes, and to get around that the forker needs to change the protocol in a way that would make it clearly not Decred. "Against community governance" article was discussed on Reddit and #governance. "The Downside of Democracy (and What it Means for Blockchain Governance)" was another article arguing against on-chain governance, discussed here. Reddit recap: mining rig shops discussion; how centralized is Politeia; controversial debate on photos of models that yielded useful discussion on our marketing approach; analysis of a drop in number of transactions; concerns regarding project bus factor, removing central authorities, advertising and full node count – received detailed responses; an argument by insette for maximizing aggregate tx fees; coordinating network upgrades; a new "Why Decred?" thread; a question about quantum resistance with a detailed answer and a recap of current status of quantum resistant algorithms. Chats recap: Programmatic Proof-of-Work (ProgPoW) discussion; possible hashrate of Blake-256 miners is at least ~30% higher than SHA-256d; how Decred is not vulnerable to SPV leaf/node attack.
DCR opened the month at ~$93, reached monthly high of $110, gradually dropped to the low of $58 and closed at $67. In BTC terms it was 0.0125 -> 0.0150 -> 0.0098 -> 0.0105. The downturn coincided with a global decline across the whole crypto market. In the middle of the month Decred was noticed to be #1 in onchainfx "% down from ATH" chart and on this chart by @CoinzTrader. Towards the end of the month it dropped to #3.
Please note: we will not accept any kind of payment to list an asset.
Bithumb got hacked with a $30 m loss. Zcash organized Zcon0, an event in Canada that focused on privacy tech and governance. An interesting insight from Keynote Panel on governance: "There is no such thing as on-chain governance". Microsoft acquired GitHub. There was some debate about whether it is a reason to look into alternative solutions like GitLab right now. It is always a good idea to have a local copy of Decred source code, just in case. Status update from @sumiflow on correcting DCR supply on various sites:
To begin with, none of the below sites were showing the correct supply or market cap for Decred but we've made some progress. coingecko.com, coinlib.io, cryptocompare.com, livecoinwatch.com, worldcoinindex.com - corrected! cryptoindex.co, onchainfx.com - awaiting fix coinmarketcap.com - refused to fix because devs have coins too? (slack)
About This Issue
This is the third issue of Decred Journal after April and May. Most information from third parties is relayed directly from source after a minimal sanity check. The authors of Decred Journal have no ability to verify all claims. Please beware of scams and do your own research. The new public Matrix logs look promising and we hope to transition from Slack links to Matrix links. In the meantime, the way to read Slack links is explained in the previous issue. As usual, any feedback is appreciated: please comment on Reddit, GitHub or #writers_room. Contributions are welcome too, anything from initial collection to final review to translations. Credits (Slack names, alphabetical order): bee and Richard-Red. Special thanks to @Haon for bringing May 2018 issue to medium.
Hello everybody. The LISK project and it's enthusiasts are always busy, and this week past has certainly been no exception. Seeing is believing, so here is a recap of the highlights and interesting items from the past week on the LISK subreddit and beyond.....
Lisk's 11th LIP – Some Viewpoints on the Proposal to Change to one Vote Per Account.
I am sure you are all aware by now that HQ has just opened the discussion for their 11th LIP (Lisk Improvement Proposal) dealing with the "change to one vote per account in our DPoS". A thread was started on the Lisk subreddit announcing this LIP content and it provoked a lot of intense debate. This LIP of course is for now just a proposal by the Lisk project team, and it should create discussion around what is best for the network. HQ advise that any interested community members should join the conversation by signing up to the LIP mailing list HERE. Lightcurve science team member Iker posted "Hey guys, we are looking forward to your contributions regarding this and other proposals. We will check all the community inputs in the mailing list. Community Lead of the Lisk project, Mat Piaggi, produced a summary of the initial discussion on the Lisk Chat channel regarding this latest LIP. It features Iker from the Lisk science team and Chief R&D Officer and Co-founder of GNY, Richard Jarritt. You can read it HERE
Lisk Sidechain Project's CEO Attends Meeting With the EU Commission.
Christian Junger, CEO of the MADANA project recently met with Dr. Florent Frederix, a Cybersecurity expert from the European Commission in Brussels. I have heard that they discussed eprivacy, and cybersecurity of course. The importance of GDPR compliant technology for a more privacy-driven business world was chief among the talking points with MADANA being touted as one of the suitable project to uphold this imperative. It is no surprise so that the MADANA project is due to be one of the first major dApps to be built on a Lisk sidechain. This platform for data analysis using Blockchain technology allows participants to get in on the data market with their own data, whilst simultaneously preserving their privacy by design. The MADANA project has closed its pre-sale and is now preparing for its main sale You can view an image of Christian's meeting in Brussels HERE.
LISK Sidechain Project's Founder Releases Three Exciting Pieces of Development Info.
You are all probably aware of GNY.io, the team bringing Machine Learning to Lisk via the sidechain LML (Lisk Machine Learning). Well, Chief R&D Officer and Co-founder of GNY, Richard Jarritt, in conversation with the projects followers on the GNY telegram dropped three exciting pieces of info over the the last few days.
1. Low fees. The development team, which includes head of blockchain development, Leo Liang (known from the Asch decentralized application platform), have concluded their design where the Machine Learning data will be written into a contract. This is created with a low fee and then the Machine Learning reply (the prediction) is returned with another contract.
2. Timescale. The team are aiming to get this Machine Learning and codebase integration completed by the month of March.
3. Unique. You may may have seen blockchain before..... you may have seen Machine Learning before..... You may have even seen blockchain and Machine Learning combined before, however no competitors as yet have implemented or even attempted such a system where all the Machine Learning is done on chain, so data does not leave the security of the chain. Plus the Machine Learning script does not grow exponentially. It is specifically coded to shed unneeded weight and prune off information, so that the data does not become too large for the chain. With each block, GNY's machine learning system is reading past data and the current data inputting into the block. It then makes a note of the pruned output, which is included in a contract for the next block. The GNY universal Beta Api plug-in update is out now and testing is welcomed for commercial developers aiming to work with Machine learning and blockchain. You can visit Github to view the steps to run it HERE.
Lisk Play Prize Pool Swells and Another Lisk Game is On the Horizon.
A new community contest created by Lemii is receiving a great deal of support from the Liskers at large. Lisk Play is fun tool enabling simple contests to be played for a nominal amount of LSK. It's aim, besides bringing community together with fun, is to showcase a simple use case for transaction fields in explorer such as time, date, message, and so on with trivial value transactions. This is entirely a community initiative and has no affiliation to Lisk HQ, Lightcurve or the Lisk Foundation. The first engagement of Lisk Play is a contest where the goal is to predict the opening price of Bitcoin as at 00:00 on the 1st of March 2019. Entering the competition costs 1 LSK and the closest prediction wins the sum of all LSK collected plus a top up fund kindly donated by stellardynamic of www.liskusa.io The prize pool has now swelled to 120 LSK. You have to get moving though to enter as the deadline for all predictions is February 16th. You can check it out HERE. In my opinion Lemii is to be commended for the work he has put into this project alongside his consultants Crosssy, Maul, Lisk.ftw, and Sexor (minions).
Now to the other Lisk game that is upcoming. My sources tell me that a Telegram contest is being worked on at present. I believe it will take the form of a treasure hunt type contest with hints given that will lead the lucky winnes to a cache of LSK. Sounds good? Of course it does. I will have more on the game in a short while.
LISK Videos around the World: Misss Bitcoin.
Dutch crypto Youtuber "Misss Bitcoin" released a new English language video titled "TA MONDAY | Technical Analysis on Bitcoin, Litecoin & Lisk". Misss Bitcoin AKA Maddie describes herself and her channel as follows..... "Seven years ago I became enthusiastic about Bitcoin, Cryptocurrencies and especially charting. I fell in love with the charts but besides that I’m still super excited about what the cryptocurrencies will bring us in the near future. I’m honored to be a part of the revolution and I would like to take you with me on this journey. Within this expanding crypto universe there is still so much to learn and I want to share this with everyone that is interested in (trading) cryptocurrencies". She says she loves Lisk and it is one of her one of her favorite cryptos. Analysing the Binance chart in the video she says that although it not a very positive chart currently, she is still very positive for Lisk. She goes on to say that the next 10 to 14 days will be crucial to see if it LSK tests the bottom of its current chart. I took the liberty of cropping her current video to allow you get straight to the Lisk TA. You can view it HERE. See what you think and don't forget to give the Youtube channel of the original poster a thumbs up if you find it of value.
Best of the best Q&A Stephens and Shingos. Team, Community, Competition, POS, Marketing
stephen corliss, [19.10.17 21:07] Team Bitquence, Who Are They? Collectively, the team has over 150 years of professional experience, lead by a leader who has accomplished more in 19 years than many people will over their entire careers. This team has the skills and gumption to deliver what it promises. These simple facts should be enough to stop anyone from spreading FUD that anything here is a scam. If it is not, let me say this, I carry securities licenses that are overseen by government regulators and I also founded a regulated investment business that is still active. If I, or anyone as part of this team, were involved in anything devious, the Feds would be at my door with handcuffs. Would I or anyone of us really be this stupid? I can’t wait to remove all these irresponsible pinheads from this industry who care only about themselves rather than society. In the world I desire, there is absolutely NO room for greed anymore where society suffers at the hands of a few! stephen corliss, [15.09.17 17:43] [In reply to James: stephen interested to know if Bitquence was on your radar before you joined us?? Or were you interested in getting into the space and they approached you?] Hi James, I've actually been in crypto since the early days all the way back to 2013, hopping around the globe trying to help shape the vision for our industry. BQX and I stumbled upon one another and immediately discovered we shared the same visions and inspirations to deliver a truly transformative platform that is built for the consumer to help them in every way possible to take control of their financial futures. This is also why Shingo and I believe our platform should cover not only crypto but even traditional fiat assets (sec's, bonds, etc). This is critical as consumers will have the majority of their wealth tied up in traditional assets, like those retirement assets tied up in employers retirement plans, for at least another decade before they can transition to the Blockchain. stephen corliss, [24.08.17 02:47] [In reply to Matt Hopkins: stephen I cannot express how impressive the response from the team, Shingo, and yourself has been. Reading the white paper and watching your videos where just a glimpse into this amazing vision and platform. You guys have brought this community to the next level. Thank you for your transparency and constant updates. I know I speak for the whole community here. Here’s to a great future with Bitquence.] Matt, Thanks man. I've seen a lot of stuff in my life and people who claim to be visionaries, only one of them could hold a candlestick to Shingo. You know, I've seen and been involved in a lot of exciting things over the years but nothing like this. Not even close! stephen corliss, [25.08.17 21:07] [In reply to Liam: Stopping wild rumours in their tracks with your unbeatable knowledge of all the rules and regulations that need to be adhered to, I wonder how other crypto companies ever manage to survive without someone like you on their team] Sustainability of Bitquence and the entire eco-system is of major importance so some times it means getting very deep into the weeds as the complexity level globally can be a daunting task to most. But, it can be fun, especially if your bit wacky like me! Shingo, [30.09.17 05:59] [In reply to Long Ton: How many coders do you guys have working on Bitquence? I’d be concerned if Shingo was managing university and coding] 7 or 8 devs if you are talking about technical people working on various aspects of the platform. The number feels about right to me. Jeff Bezos always said you should have no team that is too big to share 2 large pizzas otherwise you lose productivity stephen corliss, [02.11.17 16:02] [In reply to Markus Winnen: What´s the story behind hiring you? Did you know each other before or how does the contact happened? :D] We didn’t know each other but we had some mutual acquaintances. After meeting, Shingo and I immediately hit it off and also discovered that our dual solutions for creating a new eco-system for global financial services had a lot of overlap. So, they asked me to come on as a founder. Decision was easy. stephen corliss, [02.11.17 23:49] [In reply to Ab Alphabeta1: amongst all your positions at work so far, which has been your favorite ? I know the first job is always special, apart from that?] My work at BGI/iShares was very special for numerous reasons but none more meaningful than having alignment of core values. The work itself was awesome as I had to build a global sell side business across asia, europe and americas, which is extremely hard to do by itself but doing it within a buy side asset manager and then integrate the two together was unheard of. Building an entire infrastructure including global trading systems across all asset classes including equities, bonds and cash is a lot of fun as you have to also build all of the upstream and downstream processes and tech and then overlay 100’s of jurisdictional regulations and laws while collaborating with regulators. Crazy fun but it was even more rewarding because in a short period of time we grew it to a $200m revenue a year while trading $350billion in assets. stephen corliss, [10.11.17 18:06] [In reply to Kevv: if you don't mind be asking Stephen, what's the team plan with recruiting/getting more dev/marketing/back end ppls ect?] Its a continuous process but we have the core team of expert devs building as we speak and our expanding with other experts, eg. AI and Machine Learning, so things are changing rapidly as we progress on the roadmap. Non-technical staff are also in the picture and being added continuously as we have already have key staff onboard as part of the assembling of a highly skilled marketing team. Lots happening! stephen corliss, [15.11.17 15:31] I learned quite early on that creativity and innovation are things that can come both normally and with intention. Most people don’t deliberately set aside time to tap into these skillsets. For me, I’ve always allowed myself time each and every day to challenge conventional ways of thinking, business and economic models or broad processes. This often allows me to devote the time to really understand an issue, model and process so I can then break it apart into small pieces and rethink how to rebuild it to be bigger, better and faster. This is why school for me was frustrating as it moved at a pace that doesn’t truly allow one to build in-depth knowledge and understand all sides and angles. Most of what I have come to know came afterward or what I did on my own time. Hate to admit it but my hobbies are not traditional, I like researching the history of capital market and economic models and studying congressional history around how market based rules came about and what motivated them. Weird? Yeah, a bit but if you truly love something, who cares!
stephen corliss, [28.10.17 14:21] All, As the public opinion debate about Bitquence is beginning to ramp up I wanted to take a moment to share some thoughts. Openness and transparency are one of the several reasons I decided to enter crypto several years ago. This may seem strange coming from someone with my background but in my opinion, the traditional approach of hiding behind the corporate veil is cowardly and toxic. So, for any firm in this space, both it and its supporters must embrace diverse opinions and have an intelligent and open dialogue with those that disagree with our opinions. Lets not embrace the culture that exists in our global politics where those with different opinions are tarred and feathered but rather choose to behave like adults to set the example for our youth. Crypto is not about being closed minded but rather quite the opposite. So, when we are challenged lets not scream the loudest and attack but rather choose to engage those having different opinions in an open intelligent dialogue. Lets ask the tough questions of ourselves and others. If someone has an opinion, lets discover what informs that opinion by demanding openness and transparency about the facts that matter when sharing that opinion such as someone’s background or the analysis, facts and details that support it. As you all know, Shingo and I are here everyday to answer all of your questions, whether easy or difficult. This is a conscious decision on our part because of two main reasons, first because leaders in our industry should not cowardly sit behind the corporate veil like our traditional corporate counterparts and secondly, because we are building a global community that desires a financial system that works for society rather than against it. Lets embrace diversity of opinion as we are a diverse community from all walks of life who understand that differences should be embraced rather than pushed aside. I will be here everyday no matter how big or busy things become at Bitquence. Not because I have to but rather because I want to. I’m not afraid to be challenged and neither should any of you as this is the only way to get to the best result. I love this community so lets do everything we can to maintain a culture of openness that embraces our differences to discover the best answers. Change is coming! Shingo, [10.09.17 18:42] The Bitquence community is different from other communities. We are smaller, but passionate because we all share the same pain points and yearn for the same vision. You don't see this sort of passion in many other places which is why we don't care very much about the short-term. We are looking long and when we have the product, we will get people to come and Bitquence will change the way people interact with crypto stephen corliss, [19.10.17 21:22] Those of us in this community all know that we have the best community as each one of us plays a powerful role in building the momentum behind a unique grassroots movement that is absolutely scaring the shit out of our competitors. People Powered ya’ll !! stephen corliss about communication [21.08.17 18:32] You all deserve nothing less! We pay attention and want to ensure we all move along together and share in the fun stephen corliss, [12.10.17 05:29] [In reply to Ke: Stephen can you specify 1 or 2 concrete things that those of us longterm holders who see the vision especially the 7yr plan to overtake Fidelity can do right now to help make it a reality perhaps sooner than we imagine. I believe alot if folks here are in this not just for the profits that will surely come but also because the vision of changing consumer finance is noble.] Two things, absolutely. 1) Every chance you get whether digitally or voice speak positively about this industry and recognize that early on it was full of bad stuff but we are changing that now by legitimizing everything we do so we can change financial models for the future 2) re-Post anything from this forum, other forums or from our site that you believe in, to any venue whether it is Facebook, Twitter, LinkedIn, Reddit; etc. Don’t do or post anything that you don’t truly believe in as people will see through that instantly. This is not about a single person or company, this is truly about what is best for us as a global community. Our dipstick lawmakers may believe we live in separate societies, but I believe we live in just a single global community who wants more than what the current rules and structures consider. Yeah, a bit of a soapbox comment but this is our time to really deliver change. That is what drives all of us. Shingo, [26.10.17 20:46] We have said time and time again, we are looking for real, organic growth and a genuine brand and community. That is why we avoid hype, shilling and all that comes with it stephen corliss, [04.11.17 06:04] This project is backed by a community. We are not defined by any one individual, not Shingo, not me, not the team, but instead a collection of individuals who desire change. We have many supporters and we appreciate them all and although I personally don’t know Suppoman, I would ask that you not slander anyone in this forum. Lets just keep everything professional and focus on delivering change together. stephen corliss, [25.08.17 04:43] [In reply to John: stephen enlighten this newbie here...what can i expect for investing in bitquence] Game over bro! Sorry for the playground choice of words but if anyone has aspirations to see mass adoption of crypto become a reality then they need to be a part of this community who together will make this a reality. I couldn't mean this anymore than I do. This only happens with every one of us sharing a goal to deliver a new paradigm for financial services, especially how we build wealth ( that means You, Shingo, Adam, Kevin, the other BQX team members, everybody!) stephen corliss, [10.11.17 23:57] Community Message: All, I wanted to share some thoughts on community etiquette. As we are moving quickly into a very serious phase, I want to share with all of you our views on how we proceed and protect our positioning and image. As you all know, we are a community fighting together to bring real change. As part of doing this, what this means is that we are having serious strategic discussions with countless serious and successful businesses to partner with us as service providers, strategic partnerships and the like. However, what this also means is Bitquence is now under the microscope and held to a much higher standard than most. To ensure we maintain the best public profile this means we must also ask the same of all of you as we are in this together. So, earlier today we had some person enter the forum talking about shorting and referring to BQX as a scam. Rather than sit idle and extend a long rope as we normally would do, I banned this person almost immediately. I didn’t do this to “muffle” anyone’s voices or to limit healthy debates or discussions but rather to protect the public profile of the community and Bitquence for the very reasons I just shared. I promise you that we love and embrace diverse opinions and love open debate but we all must now realize the we have moved into a very critical phase and professionalism has to be the standard. We are doing the impossible but each and everyone of us is playing a critical role in our overall success so lets not allow Fudsters and people focused on themselves to tarnish our image. Thank you all for everything. Much love!
stephen corliss, [28.09.17 14:57] If you can find me just 1 single competitor who can do what we plan and do it in a way where they won't violate laws and can service every jurisdiction, let me know. I don't see anyone thinking about this the way we do. Remember, first may be okay initially but if your model isn't sustainable and insulated from all the changes to laws and regs that are forthcoming, then it won't matter as you will be out of business. Working smarter and with speed and precision is always better in my book. I don't think the complexity of what we are doing and the space we're doing it in is always apparent. You can't just build something, especially in finserv, without knowing first where all the minefields are, as many have tried before and have since departed with many others to follow. Don't get me wrong, I don't wish this on anyone but if you don't plan appropriately, there really isn't an excuse. If we are sustainable, everyone wins. The team has basically doubled in a week, so the train is rolling at a high rate of speed to deliver not only an innovative model but also "several" innovative tech solutions. stephen corliss, [15.11.17 04:14] [In reply to EstimatedProphet: Stephen since you are the global strategist, what do you feel gives you a strategic advantage in comparison to competitors? Is the product quality? Is it your former experience in the finance industry? I would love to know. Also, do you feel that certain relationships you have made in the past working for BOA and BlackRock provided outlets/resources that others might not have access to?] Great question. Let me try to answer as best I can. what do you feel gives you a strategic advantage in comparison to competitors? With Shingo’s vision and capabilities, my knowledge of global market structures and regulations and the expert team we have brought together, I believe there is no other firm with the collective capabilities that we have at Bitquence. I’ve personally spent nearly 30 years studying everything about global finance, capital markets, structures and regulation. I believe the team here cannot be replicated anywhere. So, competitors may be able to copy but they will never do it as well as us because of our knowledge advantage. Is the product quality? Knowledge and capabilities unleash quality, which is what will differentiate us from all others Is it your former experience in the finance industry? Partially but it is the team that gives us the advantage. Also, do you feel that certain relationships you have made in the past working for BOA and BlackRock provided outlets/resources that others might not have access to? OH, MOST DEFINITELY Lastly, what do you currently feel is the most important market for BQX to take over first? I think we’ve said this before, its the United States. Why? All others avoid the US because they believe it is too risky, I don’t agree. If you solve for the US, this means you can operate pretty much anywhere. So, we solve for the US now ( Which we have!) and then concurrently role out in other Jurisdictions across Europe and Asia. I know there is a global strategy at hand, but what national market is most important to make the mark and or ensure long term success? See above. Shingo, [15.09.17 22:58] I've seen at least 12 platforms that people are saying "doing something similar to bitquence". If we were the only ones trying to do what we are doing, I would be very worried! The fact that so many are trying to do stuff like this simply means that there is a very real market need for it. Competition is good and will motivate us to make the best product stephen corliss, [14.09.17 13:19] [In reply to momo] Absolutely, competition is healthy. However, we have a significant advantage as we have visionary engineers and financial minds who know how to create something that nobody has seen before that can also withstand the highest degree of scrutiny. I wish I could find the words to explain how difficult it is to uncover the solutions we have found but I cannot as it requires much more space than is available to me here. Plus, why tip off everyone! let them figure it out for themselves after we become the biggest baddest platform on the street! stephen corliss about competition, [08.09.17 16:13] Coinbase is not a good barometer for Bitquence, whether we're discussing technology, legal/regulatory structure, product / service quality and depth or customer service. If you can't even get customer service right, how can anything else be great? No worries all, the BQX Team understands all the critical elements required to deliver! Competition? What competition....! In my view, we are trailblazers. Sure, many will try and follow us or even try to interpret our vision and replicate it to beat us to market, but none will be able to do this with complete success. That's what drives us and focused is what we are! [In reply to Bjorn: How does BQX not be a competitor of existing Exchanges Stephen if we can buy and trade coins on the BQX platform?] Thanks Justin! Hi Bjorn! Let me first call your attention to page 7 in our latest Whitepaper. Here you will find how all of the various dynamic layers of the platform work in conjunction with one another. BQX powers everything on the platform and links the Platform Layer with the Liquidity Layer. BQX will represent the individual baskets which will hold diverse ccy's and coins where liquidity for the individual constituent ccy's/coins will be sourced via CCY and Coin Exchanges. (also eliminating counterparty risk) There are a lot more nuances here but this should give you more details. I likened this to what we did with exchange traded funds over 15 years ago where exchanges at the time felt unnecessarily threatened by ETF's as they thought it would hurt their businesses. In fact, it did exactly the opposite as they generated exponentially more trading volumes because of the many:1 design of index funds. In the end, what this delivers is a fully fungible diverse basket of ccy's/coins that delivers the full benefits of directly holding them while streamlining day to day transactions for users. Does this help at all? Again, this is why we help exchanges grow their business as it allows for "mass adoption". stephen corliss, [03.09.17 15:51] [In reply to Z Davinci] All, We hear you 100%. Let me make one point reference competition. Competition will be and is a healthy thing for any industry as it provides options for consumers while also allowing consumers to choose the better service provider and technology. However, when building a model in an industry such as this one that has to align with a complex financial industry centuries old, most will either fail or miss the mark significantly. What we have right now is a classic "square peg round hole" situation where ONLY those with the necessary technical, business AND industry expertise will win. What I can share here is this, we've done all of the necessary work designing a comprehensive solution that can flourish in a highly fluid business environment, where most others will be confused and distracted. I've set up many financial firms in my life worldwide so this is not unchartered territory and we will do whatever is necessary to ensure BItquence can flourish. FOCUS, BE BOLD, BE FAST, BUILD AND DELIVER, it is as simple as that. stephen corliss, [08.09.17 02:17] [In reply to Slim] First, I'm old school so lets start with a giant HA! Then, lets move on to calling bullsh1t! Clearly, they have no idea about what we are building, and more importantly, how one goes about doing it. Lets take those comment 1 by 1. 1) Its a lot like Prism and Iconomi? What? Prism essentially deploys a CFD type model where holders do not hold the underlying coins it is meant to track and thus users have no rights or benefits that may come with each coin. All they have is a bet that they can win or lose. This is more appropriate for heavy traders employing a hedge or wanting quick/simple artificial exposure. It also doesn't save much in transaction costs either, which contradicts one of the main benefits of a CFD, their usually cheap! I don't knock their product but it is a complete 180 from BQX. Now Iconomi is different but similar. Considering my years with Indexes and ETF's, I clearly appreciate what they are trying to do. However, again, I have access to yield generation capabilities (or not depending on market moves) but what do I actually own? ICNX and ICNP only, not the underlying coins. Is the DAA transportable? No. I can go on and on but it seems unnecessary. Especially considering that none of this considers the Universal Wallet and all its benefits. 2) You do not own the currencies, you own the keys? Wrong, you own both! 3) You are given est. prices and own the assets and compare to actual investments? Nope, you know prices (est and actual) and own the ccy's 4) We are going big and will hv hurdles? Sure, but we solved those already! 5) Bitquence is centralized? Ah, nope its not. 6) They hold the wallet? Nope! 7) They are the exchange? Nope, we deliver optimized price discovery, cost reduction and lessen market impact 8) 1% Fee? Maybe but not finalized, however, that would be a lot cheaper than anyone else by leaps and bounds! 9) Years for product introduction to US customers? Solved! Okay, did I miss anything? The problem here, all, is that our peers like to say that they understand Shingo's vision, but in all do respect they really really don't. They are building interesting products but none are remotely close to BQX because our visions and motivations are vastly different. We can cohabit the same space as we service different clientele but the similarities begin and end with we occupy space in the same industry. Product differentiation is quite vast. stephen corliss, [07.11.17 20:53] [In reply to Ke: Is it fair to say that the biggest target bitquence is going after right now is Coinbase? Is that the real competitor?] I wouldn’t call it that specifically. In the financial space there are 2 main groups, Buy Side (eg Blackrock) and Sell Side (Brokers/Exchanges). I believe Bitquence is on the Buy Side and Coinbase is on the Sell Side. So, they could service us as a liquidity provider. However, because of their model involving coin storage, we will have an impact on them as consumers begin to leave their assets in cold-storage. However, this dynamic could still be positive for Coinbase as Bitquence creates opportunities to deliver new product sets of which Coinbase could provide liquidity and possibly even custody.
stephen corliss, [13.09.17 13:54] POS is rebranded to Bitquence Predictions as POS implies other things, although we share numerous simiilarities Shingo, [23.10.17 18:50] We have changed predictions as a "reward only" system to avoid complex legal concerns Shingo, [23.10.17 18:42] [In reply to Marco: will BQX hodlers generate profits just by hodling ? (similar to OMG, NEO,...)] I would be cautious of any "passive income" model that is uncleared by regulated bodies. As Stephen said, there are some structures that may work and others that don't. There isn't enough guidance in the industry right now to say for sure Chris Ryan: So all Proof of Stake coins are considered securities?] Stephen: That will depend on the details. First question to ask is always, what are users doing to earn divs? The less substance there is the more likely a coin will be found to be a security. Shingo: The jury is still out for me whether or not proof of stake is passive or active income. Masternodes to me seem to be able to be justified as "active income" since you are providing services to the network and getting compensated in return. In that sense you could say you are getting paid income by the organization. The way OMG describes their model is a "tollbooth on a busy highway". As Stephen always says "The devil is in the details". I wouldn't want to say anything here without proper due diligence. I am excited for what OMG is doing and think they have a lot very great minds working for them. I'm sure they are considering issues such as these stephen corliss, [02.09.17 14:30] Good morning! Quick details on POS or what we now call Bitquence Predictions. First, the critical outcome from this service is high quality intelligent data, which you can think of as Consensus based research. This service is the first step as it builds a valuable data inventory that will feed into our Basket creation, risk management, asset allocation and other functionality. It also allows knowledgeable and successful users to establish and build their reputation and following on the platform. This was never intended to be a gambling service and be, as some say above, "the only value maker for BQX". This thinking is an incorrect interpretation and I hope this explains why. BQX value creation, as discussed in slightly earlier threads, is generated by what happens in the next phases of the project, which are the "transactional" based Baskets and Universal Wallet services where BQX is both 1) necessary as Gas and for transactions and storage 2) A constituent holding option in the basket 3) liquidity enabler for the Liquidity Network and The Universal Wallet. Now, there are a lot more details to think about when thinking about BQX value creation but each one of the above should provide the basis for that analysis. Hope this helps. stephen corliss, [29.08.17 22:40] All, I want to be sure the entire community understands precisely how POS will work. First, as you all know, we have been doing a deep global analysis of our entire roadmap, vision, products and services. This strategic analysis is and will continue to be our guidebook for all related decisions. The analysis is premised on one large assumption, during the short and intermediate term Bitquence should not require financial related licenses (Unless it is mandatory) in any jurisdiction. As such, with regards to POS, we have completed the required analysis and in NO way will this service be considered gambling, investment or derivative related. Users will not surrender / pay anything of monetary value to participate in POS. Winners will benefit and be rewarded for providing essential data but this will not come from any other user who predicting incorrectly. We will share more information but the above statements should clear this issue up. We of course understand that some of the information put out by us may have lead to this confusion but we will revisit those materials in due time to ensure they are more precise. Thank you everyone! stephen corliss, [28.09.17 14:51] [In reply to Yoyo: People would get free coins to keep coin in the wallet?] Lets stick to Predictions. In order to build the most powerful financial platform, it begins with intelligent data. The best or smartest data isn't traditional research or crowd-based data individually but collectively. So, we begin by building superior Intelligence by first having users provide predictions on coin performance over short and long term periods enriched with other social data created on the platform. To encourage use, we allow users to join the platform and begin predicting and participating in other social engagement. The more accurate you are, the more rewards users can obtain. The more followers users gain, the more rewards they obtain. This is unique content and when enriched with other traditional and non-traditional research, it is highly intelligent and significantly useful to users when making both passive and active coin decisions. Shingo, [27.10.17 07:04] [In reply to Ab Alphabeta1: Any coin which provides some sort of dividends be considered security?] I think the distinction is more between passive and active income and income on investment versus income for services rendered. Any token that requires you to stake or use your token in some sort of process that benefits the network suggests to me that it is compensation for services rendered. That being said, line is really blurry and won't become clear until governments and regulators catch up and render a decision
Shingo, [19.10.17 19:27] I want to clarify what we mean by marketing. What we will NOT be doing is buying ads, spending on search/video/interstitial etc. What we ARE doing is putting effort into nurturing our community and increasing our earned traffic. This means upgrading the brand, creating a PR plan, scheduling releases etc. Once we launch the product, we will begin to buy ads and push the marketing pedal. I believe that this is the right strategy and will help to develop this community organically stephen corliss, [20.10.17 01:55] As I know you all know how we approach things by now, I would hope you all expect a slow dribble of news that all connects strategically. We have a lot of great things brewing and information will follow but only when the time is right. We don’t buy into the hole pump crap, so please just remember that we are extremely strategic and precise in everything we do. Shingo, [16.11.17 20:03] [In reply to Steve Crypto: Do you plan to make another Dev Update video for those who are not part of the Product Council?] Maybe... I've answered this question a bit before. We want to release less high quality content. What will likely be the format going forward is: - ExplaineAnimated Product videos - Captain's Log - Thinkpieces - Blog Shingo, [01.09.17 02:38] [In reply to EstimatedProphet: Shingo are there any strategic marketing techniques being aimed at the general public? I know you're targeting mass adoption, but what is the plan for reaching consumers outside of the Crypto community?] Lots of guerilla marketing. One of the initiatives we are working on right now is building a large library of content aimed at new users (courses, blog content, guides etc.) We are hoping that for many people, their first interaction with bitquence will be "how do I buy bitcoin" or "what is Bitcoin" We hope to serve the user over the course of their journey of discovery from learning about crypto, to becoming a social crypto trader Shingo, [10.09.17 18:41] While we are developing the product, we want to be careful with the brand and marketing. There is no point in pushing out our message far and wide before we have anything to show people besides demo videos. Building a community organically is much more powerful than building an artificial community that doesn't care about the product Shingo, [13.09.17 21:05] [In reply to Ke: Shingo...could you shed some light on how you and the team plan to get this out to the masses once the product is out? Do you plan for early adopters to be sophisticated types looking to enter a new asset class or do you plan on positioning the product as a new cool way for millenials to get a solid ROI through this beautiful tech solution? Or can you adequately market to both groups?] We don't quite want to tip our hand just yet, but our customer acquisition strategy is going to strategic partnerships and aggressive competition to market incumbents. Our strategy with exchanges has always been to get more people exposed to BQX and learning about it which is why we have been pushing for listings and why Binance was a great victory for us. The second part is aggressively going after different market sectors in the crypto industry and strategically taking market share. We anticipate that improved tools, guerilla marketing, enthusiastic community and solid promotional materials will make for a powerful combination as we enter the next phase of development Shingo, [19.09.17 18:50] [In reply to Greg: It would be nice to put up dates on roadmap in white paper or in one of dev updates, to be official.] We don't want to promise something we can't fulfill. We try to hold true to everything we say publicly. Our PR motto is under promise and over deliver which typically leads to more happy people than the opposite stephen corliss, [24.09.17 16:43] [In reply to M I H A I] Good day all. Marketing is absolutely critical. However, burning capital on marketing "too early" runs the risk of having a large CAC that will have significant negative results. Your points are not wrong but the right timing is essential Shingo, [09.10.17 05:17] What I want to do is frame up some more of our ambitious thinking in a way that people can understand where we see all of this going but also while preserving our competitive advantages over others Shingo, [13.10.17 20:58] Again - we are revamping our marketing efforts and part of that means putting together a cohesive plan and schedule. That means less in the short term, but I believe that it will be highly beneficial in the long term once we start executing to this plan. Instead of putting out mediocre marketing immediately, we are going to put out great marketing in due time. stephen corliss, [20.10.17 14:15] The only things we will be protective of are those elements that allow us to maintain a competitive advantage and a leading position. Typically these will be strategic initiatives that we will need to keep top secret until making a big public reveal. This allows us to protect our first mover advantage and further differentiate ourselves from everyone else. We have a few big surprises already.. 😊 stephen corliss, [24.10.17 14:27] All, lets move on to more constructive topics. We have just hired a very talented Marketing Executive who is developing our short and long term strategy as we speak. The benefits of this change will be significant and be visible across all channels and methods so lets stay tuned. I’m quite excited as this has been a big missing component for us that is now ramping up!
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Bitcoin vs Dollar Debate : Krugman finally admits Bitcoin's superiority Finance and Crypto
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