/biz/ - Business & Finance

>>20664721
These were the principles that Bitcoin was constructed with and designed to honor. While its inherent technology stays true to this nature (mining aside), the infrastructure that has been built up around it is flawed by design and sacrifices a good number of strengths and freedoms. Most notably are the many vulnerable points of exchange run by central authorities on trust where funds are at risk to be frozen or stolen, KYC (know your customer) policies, and the traceability, restrictions, and risks that come from these two points.

Shortly after BTC found a value that could be directly pegged to the USD (and with the USD, every global currency), a number of exchanges offering trade between the two opened for business. The first of these exchanges was the infamous Mt. Gox which implemented KYC policies by 2011 before exit scamming in early 2014. KYC policies were initially introduced to comply with the many regulations regarding the exchange of various fiat currencies for crypto in addition to demanding a deeper sense of customer accountability. Up until the point that they were introduced, the only sure way it would have been possible to trace specific addresses is if the recipient publicly disclosed their wallet address. KYC brought a considerably more advanced form of traceability with it. In addition to e-mail addresses and bank accounts, everything from names, addresses, full ID info, and pictures of each and every customer became tethered to their respective deposit and withdrawal history. Though somewhat convoluted with the nature of exchange wallets, there are patterns that can be followed and traced.

As BTC continued to grow, so did the number of its forks and competing cryptocurrencies pegged to its value in satoshis. The forks grew to be numerous and with them, the number of centralized C2C exchanges where you could trade them for BTC. Like the fiat-to-crypto exchange points before them, KYC was implemented on numerous C2C exchanges as well.

>>20664721
>>20664759
Centralized exchanges of all sorts are perhaps the weakest link in entire cryptocurrency space. They have repeatedly proven to be weak in terms of security. This year alone, the following exchanges have been compromised: Binance, Bithumb, Coinbene, Coinbin, Cryptopia, and QuadrigaCX. What’s worse, they’ve sacrificed many of the core principles of the cypherpunks that built Bitcoin in the first place.

How can crypto be censorship-resistant and immutable if exchanges can decide to freeze funds or put a certain wallet into maintenance at whim? How can it be private if every account has every bit of trade, deposit, and withdrawal history it has done tethered to its name? How can it be anonymous at-will if full documentation is demanded, sometimes as a ransom for frozen funds? How can it be secure when billions of dollars have been hijacked from weak security? It could be argued that these exchanges are the antithesis of the cypherpunks: an easily-exploitable honeypot of funds and user data with a central authority.

>>20664788
Consider the efforts of the X9 Developers building Stakenet. True to the nature of the cypherpunks, they have been working to make these numerous vulnerabilities in the cryptocurrency infrastructure obsolete. To strengthen censorship-resistance and decentralization in this space, they have been implementing an immutable and purely decentralized exchange into their network where no central authority can freeze funds, where exit scamming is impossible, and where security is as tight as the blockchain technology it runs atop. To restore the principle of at-will anonymity, their immutable DEX will have no KYC, nor will it require registered accounts. In the interests of privacy, they have built a solution that allows for one-click TOR lightning swaps that strengthen the privacy of every participating coin and the Lightning Network itself. To strengthen the nature of the decentralized exchanges that are already out there, they are working on a DEX aggregator that pools together the offerings of many promising DEXes suffering from low volume or difficulty of use.

>>20664834
Put briefly, this team has the foresight and skill to acknowledge and address the numerous risks and shortcomings that anyone coin may face the second it is sent from a private wallet to any other point in trust. They are compounding these solutions into one streamlined and convenient wallet where funds are firmly secured, trustlessly staked, and instantly tradable from one singular point.

To build up the world of cryptocurrency is to honor the ways of the cypherpunks and carry on their torch. It is to fight for freedom from the intrusiveness and corruption of centralized authorities by obsoleting them. It is preserving the privacy of funds, resisting mutability, and decentralizing any and everything which stands to benefit from it. Whether that be a store of value, the means by which that value is secured and traded, or the platforms on which these mechanisms are discussed. This era of mass-censorship, intrusiveness, digital balkanization, and monopolies from many of the premier digital spaces not only shows how right they were 26 years ago but that there is still a considerable amount of work to do.

Hear hear!

The entire purpose of BTC was "be your own bank", and it failed due to scalability.

While btc is still king, and will remain king, a solution is required to make it usable to a point where people can actually become their own bank.

What's the missing piece? Ease of trade. This is where XSN becomes Lord of Coin to BTC's King.

It allows BTC to be what it was meant to be.

I love the text!
X9 allows what others find impossible.
I always compare the project stakenet as elon musk with tesla or space X. Visionary and always stand behind your product. That's what X9 and elon musk have in common.

Holy fuck that reading
Im a poorfag from a poor country and couldnt manage to get a full MN but im feeling so comfy right now

>>20665175
Exactly.
XMR helped to obfuscate BTC.
XSN helps to obfuscate the entire C2C economy at an infrastructural level.
I can't think of many other coins that work to advance Bitcoin's essence as P2P cash.
>>20665253
Foundational technology is always a sleeper hit that wakes up and turns monstrous. Just like Bitcoin itself.
>>20665391
You can make it to a MN anon. I wish you well with your gains.

>>20665253
And the crazy part is so many people don't see it yet.

When they have that eureka moment, and they will, boom

>>20664721

So what's the simplest way to get some? I've tried a couple different ways but I don't see people selling.

>>20665824
livecoin to buy large amounts quickly
you can buy through the dex too if you want to join the beta test

This coin deserves to be on more Exchanges.
But it kinda makes sense why it's not.

>>20666249
It's had the top volume on livecoin 3 for weeks now

>>20665748
Like Bitcoin, it's something people are more likely to discover after some arduous journey that makes them cherish what it's really all about.
In my case, hatred of corrupt banks led me to BTC and CEXs freezing coin withdrawals as ransom for KYC led me to XSN.

>>20666287
yesterday it had almost 2/3 of ethereum's value

>>20666653
volume*

>>20666295

Interesting how real world problems lead to you real world solutions.

>>20666963
It's the best way to learn. Someone that set themselves on fire probably has an extra dimension of awareness when treating burns for others.

BUMP

Jp Morgan exec. and a politician

>>20667709
Who is the politician/guy on the left?

>>20668146
Good question

>>20665253
Fuck you kike scammers with your shilled coins. Link dmg now this. You fuckers are obvious

>>20668146
I heard he's into race cars though. Sounds like a cool guy.

(X) I know DEFI is the entire purpose of crypto. Its why btc was created. So we can be our own bank.

(X) I know BTC did not succeed because it didn't scale and for btc to succeed now it requires lightning network. For similar reasons, I know for eth to succeed, raiden is required.

(X) I know a DEX with atomic swaps is too slow to be commercially feasible. A lightning and raiden dex is required.

(X) I know people are fearful of trading on CEX due to situations like Cryptopia and Quadriga.

(X) I know XSN is the only project with a true dex integrating lightning and raiden. It will allow people to trade peer to peer directly from their computer. They always hold their coin. Never transfer to an exchange.

(X) I know XSN has an actual working product and you can beta test it right now in a private group in discord if you ask nicely.

(X) I know XSN is not a project that talks. They just do. I don't have to worry about an exit scam.

(X) I know XSN masternodes will process transactions on the dex and will receive the fees.

If all of the above are true, my masternodes will fucking buy me a nice big boat and quit wagecucking.

>>20669476
How much are you making off a master node? I'd be absolutely broke if I bought into one, but it is tempting... Ugh then the taxes... Sigh>>20668445

does livecoin always take forever for deposits?

>>20670305
Yeah they take a while.

XSN is shilled to hell though. Hope they don't put an exit scam and that it isn't all smoke and mirrors

XSN is legit, how could this be an exit scam, coins are well distributed, look at https://xsnexplorer.io/ richest addresses.

>>20670545
Some whale yesterday was posting about them never going to do stage 3 and pull the rug before that

>>20670581
Why after coming this far?

>>20670739
Their aggregators aren't gonna work well and it'll all go to shit

>>20670780
how useful, thanks for clearing that up anon

>>20664721
Great summary, I'm getting 2017-2018 link thread vibes

We're pumping bois.

>>20668445
I just hope he won't get epsteined.

>>20670413

A year ago i would agree with you, but I'm testing the wallet and DEX for more than 7 months. I was lucky enough to witness this masterpiece being built in front of my eyes update after update. This shit is the real deal anon.

>>20670581

He just want cheap stakies