/biz/ - Business & Finance

>>21141135
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.

>>21141135
>>21141157
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.

>>21141135
>>21141157
>>21141204
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.

>>21141135
>>21141157
>>21141204
>>21141268
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.

>Born too late to explore the world
>Born too early to explore the stars
>Born just in time to become a cyberpunk crypto magnate

Good reads
>Whitepaper
https://stakenet.io/Stakenet_Whitepaper.pdf
>Quick rundown
https://medium.com/stakenet/multi-currency-wallet-and-lightning-swaps-stakenet-solution-7d0dafe99105
>X9's contributions to LTC
https://medium.com/stakenet/litecoin-foundation-and-x9-developers-announce-collaboration-510ca985b6
>Exertive Proof of Stake
https://medium.com/stakenet/exertive-proof-of-stake-epos-4a999807f9e4
>Great write-up of Cross Chain Proof of Stake (i.e. stake XSN, receive BTC)
https://medium.com/stakenet/posw-weekly-ccpos-cross-chain-proof-of-stake-de1ac87055cd
>The Cypherpunk Standard of Banking
https://medium.com/altcoin-magazine/the-cypherpunk-standard-of-banking-88f84a834180
>Most recent Dev Update
https://medium.com/stakenet/xsn-core-dev-update-july-12-2020-72cac6050377
https://medium.com/stakenet/xsn-core-ledger-update-july-20-2020-a446e7f7af4

Further reads
https://medium.com/stakenet

DEX launching this month. Raiden public testing has already begun on the DEX and the first successful BTC-ETH swap has been made

I shilled 6 months ago, and I'll be shilling every day until $100.

Price is cooling off... For now. I'm honestly expecting $1 shortly after DEX launch.

>>21141779
Have they actually got proof of btc/eth or is it still proof of concept?

The admin in the discord said that it's not btc/eth trade because eth doesn't comply with it's own erc20 lol. I'm under the impression that it's not going to be btc/eth... but it'll be btc/weth.

Would genuinely drop 5k link more into this if they have some sort of proof of btc/eth

Binance fears the Stakenet.

>>21142183
I read that it literally can't be BTC/ETH yet because ETH doesnt conform to its own erc20 standard. Only when it is will it be possible(the ETH team have to update it or add it in ETH 2.0)

>>21142183
this >>21142330 is correct from what i understand. but if they can do btc/weth, they can do any erc20 token. that is huge anon, and they have proved they can do it and are doing it.

>>21142471
>>21142330
Yeah I appreciate it's huge, but still a slight bummer. BTC/ETH would have made this project a legitimate top 5.

But that still means they can trade btc/usd, which is good.

Top 10 is still cool though, lol.

A masternode or the equivalent (15k XSN) in todays price in Chainlink tokens?

Which will make one richer?

>>21142715
10MN is 10K link in equivalent stacks.

I have 10K link and 5MN. Hoping to make it by eoy 2021

Xsn is the king of kings

>>21142778
So you say 1MN= 1K link in terms of making it

So 1MN costs like 7k whereas 1k link 11k
I can get more value for the same amount of money.
So a XSN is a better investment for todays prices.

That's what you tell me?

Where's the best place to buy xsn? I believe it's only in livecoin, beaxy and coinall. Haven't heard about beaxy and coinall, are they any good? Livecoin has had breaches I don't really trust them

>>21142471
They can already do BTC/WETH I’m in the Raiden test group they already have a video of it and I myself have done swaps so I know it works. They put out a video yesterday but that was XSN/WETH not sure why they put that out and not BTC/WETH as they have one but suspect it’s because they wanted to get this multi-trade video of BTC/WETH swaps out to blow people’s minds.

WETH is not the same as something like WBTC. ETH is basically spaghetti code and doesn’t even conform to its own ERC20 standards, mainly because ETH was made prior to the ERC20 standard. In order for ETH to conform it needs to be wrapped but the difference is WETH is backed by its own blockchain, ETH so is completely safe. Something like WBTC isn’t though as you have to trust a 3rd party that’s holding your BTC and in return they give you a token to represent its value so it’s not the same as WETH.

>>21142996
Livecoin works fine as a no-KYC deposit-and-immediately withdraw exchange.

>>21142986

Well yea, XSN is lower and will pump harder... That's pretty obvious lmao.

>>21143073
God I hope this all goes smoothly. Is the dex any different in the raiden? I wish I was there. Fuck man. That's some serious shit.

>>21142996
Livecoin has the most volume. Just buy the coins and download the core wallet. If you can't get core wallet get a stakenet cloud account

god this is gonna pump hard

>>21143284
A lot of its competitors have $300-400 million mcaps already. The fact that XSNs mcap is like $40 mil is the only reason I strongly agree that it can still moon violently into a 9-10-11 (peak bull) digit mcap. That, and its scarcity.

Don't forget that if they can't be bothered with the cloud account, join the discord, ask to join the dex beta, and store their funds in the light wallet and keep full control of their coins and no need to bother with downloading the core wallet.

>>21141996
I don't think you guys understand.
The DEX launch alone will get us a nice 5-10x.
Raiden will probably at least 2-4x.
Hydra could get us another 5-10x too.

>>21141872
Soon as I get my mns I will be shelling with you brother. Until then SCAM

>>21143230
Works exactly the same as doing BTC/LTC trades once it’s all set up so if you have used the DEX at all then you know how it works

>>21142678
weth is backed 1:1 by eth contractually.

it's not "eth", but it's as close as you can get in an erc20 compatible form.

Has anyone noticed what the fud guy is gone? Probably fomoed in at some level and left his dream entering at 600 stats behind him.

>>21144411
oh boy those digits

>>21143911
$40 post Hydra, minimum.

gonna take at least $100k to buy a Master Node once this becomes the standard dex for erc coins.

>>21144497
What I don’t get is how a Dash Masternode could was $1.5 million at one point and if anything an XSN MN does a lot more

>>21144487
Earlier i got 9999, today i'm truly blessed just as my whole stack.

>>21144411
He was dedicated in his own way. Either an old whale fudding to accumulate, or a new HODLer. Good for him his fud was pretty funny

I bought link at 30 cent and sold at 1 dollar. NOT making the same mistake again

I won't make enough money in time to get a mn, so close yet so far ;-;

>>21144230
Yeah I use the dex as is currently. I was meaning there was some talk (maybe it was the fud guy) saying about how you'd have to run two different nodes or some shit. So it's exactly the same yeah, no other user configs needed or anything?

Also the thing that someone said in the discord, maybe it was yankee. About new projects wanting to list on the dex. They'd get a hub (node) and use it as liquidity or something. I didn't understand it. However, I'm thinking wtf you think some shitcoin is going to pay hundreds of thousands of dollars to rent a node to get hosted? That made me think the price of xsn won't go *that* high.... Frankly I don't quite understand how liquidity works on a dex, but still. Balls deep man.

>>21142183

It doesn't really matter, it's backed by the native ETH chain. And when they finally implement ETH 2.0 it will be compatible with their erc-20 standart, so you'll be able to swap regular ETH to BTC.

mmmmm up we go

>>21145282
At this stage it requires 2 clients to do Raiden swaps as the XSN wallet doesn’t have private key management for ETH so you need both. However once XSN Devs have finished adding PK management for ETH into the wallet you won’t need the Raiden client.

>>21144664
2017 euphoria was crazy man.

there were only a couple hundred projects to park billions of dollars of new wealth into. EVERYTHING went nuts.

>>21144411
SCAM ahahahahahahahahaha shitnet


Hahahahahhahahaa what a scam

>>21146239
You mean this guy?>>21144411

>>21145282
>Also the thing that someone said in the discord, maybe it was yankee. About new projects wanting to list on the dex. They'd get a hub (node) and use it as liquidity or something.

That’s interesting maybe not if an MN costs $100k but if a project can get a hub and then basically list themselves and use themselves as the liquidity provider then they would also make all the trading fees off of their own project which is kind of cool, could be a good way for them to make money if they do enough volume. If a project did that then surely they would want all of their trading volume on their own hub so they would also not list in as many places to make sure people used XSN DEX so they could make the trading fees

>>21146210
>tfw first entered biz late 2017
>Really happy with gains on everything
>2018 cras
If only I had been here earlier...

>>21146239
What does XSN do?

What was the original purpose of btc? To allow us to become our own bank.

Did BTC achieve that? No. It wouldn't scale. Too slow and expensive. Same with eth.

So what happened? People don't actually use crypto to transact. It's really just speculative betting game right now.

So what does crypto need to really allow us to be our own bank? It needs to be fast and cheap to use.

That's why eth and btc built second layer solutions (raiden and lightning) to allow for commercially feasible transactions that are fast and cheap.

The problem? Notwithstanding lightning and raiden, Crypto are still islands.

XSN created the bridge between those island using lightning and raiden. And that is just the beginning.

Imagine when their hardware wallet is released and you can pay a pizza in btc with your xsn, and the swap happens automatically.

>>21146239
Laughing anime girl poster was actually really good. It was there from the start. It's like our version of nico bully. 100% sure nico bully posters are all link holders too. It's all fun though.

>>21146373
Yeah I think it was something like that. They'd use themselves as liquidity providers and get all the trading fees. I don't understand it though, cause I thought all the trading fees were going to masternodes.

>>21146343
Nah the one who tried to convince what this is a biz p&d and everything will crash soon.

>>21147215
Ah lol good times accumulating

This image is pure fantasy. Do not fall for it newfriends.


Why do Master(((Nose))) fags think they’ll make so much? Let’s do some basic math.
There’s just under 110,000,000 TOTAL supply of XSN right now. Not circulating, al of it in existence. Total. I’ll even give you an extra 33ish percent and call it 150,000,000 to make math easy, and it will still show how retarded you are.
One masternode is 15,000 XSN. 150,000,000/15,000 = 10,000. There can only be 10k master nodes if ALL TOKENS ARE USED FOR IT, I.e. there is no currency to process. So if you can acquire ten master nodes right now, you own 1/1000 of the supply. That barrier to entry isn’t that high (about $20-$25k as of this morning and it was much cheaper just a month ago). that means there are multiple mini-whales who already have ten MN worth, and early big whales easily own over 1-2% of the supply. People are going to stake MNs left and right. Who is actually going to bother using the free floating currency when so much of it gets locked up so quickly in staking?

>>21147381
lmao this is from that guys FUD-pastebin

>>21147014
>Yeah I think it was something like that. They'd use themselves as liquidity providers and get all the trading fees. I don't understand it though, cause I thought all the trading fees were going to masternodes

I’m not sure on the specifics but I thought after the Hydra upgrade all MN’s could be hubs but you still have to actually install the DEX as it’s just a dapp but could be wrong. I mean if you got an MN you would be stupid not to add the DEX to it to get in on the trading fees but bet there will still be people to lazy to do it

>>21147607
Is there more info on this in the Discord or something? I tried searching but no one has asked, or I'm searching for the wrong thing.

>>21144756
My favorite was the one where SCAM was a song and Frank and the politician were some Austin Powers band

>>21147506
>can’t refute it

>>21147724
Just ask in discord I guess someone will answer

>>21144920
and YOU never bought again.?

>>21142678
Patience. It is coming!

>>21148348
nope, left the whole cryptospace for one and a half year and am back now
bless XSN

>>21147381
You forget the blockrewards...
45% stakers 45% masternodes 10% Treasury.
So more Masternodes means, more Masternodes fighting for the rewards right? In that case staking is more interesting again etc...the system has always his balance and it is driven by rewards. Easy as that.
Also new blocks getting mined anyway through blockrewards and so there will be enough liquid stakejuice to use all the fancy stuff built.

XSN has had a great week

>>21149014
and STILL so cheap

>cyberpunk
>coin is a PoS shitcoin with no hardware mining
no

>>21149142
>hardware mining
That becomes obsolete after Eth 2.0. Probably in a few years, which is still a long time.

>>21146210
2021 will be similar and then some. For speculation AND use cases this time

>>21149014
no shit

>>21149924
there will be more institutional money maybe, but that probably means less crazy speculative morons in trash projects, more sustained growth in top tier coins.

>>21151192
That would mean more marketing done to normies by institutions to pump their bags. It'll be massive