/biz/ - Business & Finance

bump pls

>>24616955
LINKS Jewsicles.

>>24616955
SCRT is another new scam from the Enigma team. You wanna see your money evaporate, buy SCRT.

>>24617898
Ah yes, the classic "get the sec to regulate your crypto as a security scam"

>>24617898
what was their last scam?

>>24618014
The SEC issued a memo considering eng (enigma token) as a security. Because the ICO didn't go through security regs, they were forced to allow refunds to ico buyers.

Classic scam. Easiest way to make money is to get the sec to force you to give people money

>>24616955
scrt will have ETH bridge live on december 14. You can deposit ETH and mint secret ETH on Secret Network. So then you'll basically have ETH that is private like monero. They will support multiple erc-20 tokens aswell. They will also make front-running resistant private AMM. This solves the problem that has been preventing big money investors to really use DeFi because everyone can see their transactions/balances or front run them. Do what you want with this information.

>>24618014
it is not a scam
but it is something people say
to keep gullible people away
this thing is about to moon like nothing you have ever seen


It is the next evolution of blockchain

>>24618212
>to keep gullible people away
>this thing is about to moon like nothing you have ever seen
>It is the next evolution of blockchain
you're delusional lmao, just listen to yourself

>>24618212
No, it is actually said to keep people away from losing their hard earned money you fuckwit. If you wanna lose it all go ahead, but stop giving lame advice. Dick.

>>24618239
it is pretty common on /biz/ for people to fud perfectly legitimate small cap projects just because they are not done accumulating

>>24618360
then why are you shilling it here? shouldn't you be accumulating too? exactly, you're just looking for a quick pump and dump

>>24618337
name one argument as to why it is a scam
the network is fucking up and running
it cannot be a scam
you can test it yourself
It is the world's first smart contract platform with full privacy
compare that with ethereum, ethereum does not even have privacy

>>24618337
ok but how is it a scam? Devs didn't go through sec hoops with ENG, get called out enigma inc is forced to refund ico buyers. Then create new project that better satisfies SEC complaints and is 1:1 convertible with eng. I don't see how that would be a good scam

>>24618391
I'm done accumulating since a few weeks back yes

>>24616955
ROSE is $0.25 EOY easily

>>24618451
why is it a better platform

>>24618410
>>24618414

It's a scam because they promise privacy when there actually is none if you look at the sourcecode. Tor Bair has a lot of empty promises. They ramble buzzwords but it isn't backed up by the actual fucking network dimwit. Just look at their codebase, even a fucking 12 year old can figure out that its as traceble as Eth behind the obfuscation layer.

Fuck that I still have to tell people to DYOR.

>>24618576
they got the right backers. Binance, Pantera Capital etc.

>>24618577
their big point seems to be that services like uniswap could stop front-runners by moving to secret network
but what stops the people front-running on uniswap from just running their own nodes on this tiny network and front-running that way?

>>24618577
So you're saying that the contracts can be easily read? Pls explain problem in big picture terms

>>24618686
>https://www.coindesk.com/bsn-polkadot-oasis-bityuan

you're welcome. ctrl + f "pantera" to find it fast

>>24618709
>X invested in it! Can't fail
Oh no! I'm late to clock into my job at GE

>>24618577
I think you misunderstand how it works.
The obfuscation layer is part of the consensus protocol.
The data is always encrypted.
It is not like Ethereum, ethereum has no privacy built into the first layer.
> Tor Bair has a lot of empty promises.
Try the network out. You can build anything today. Nobody has been able to break the privacy in the 2 months that it has been live.
Nobody was able to break it during the test net and there were big bounty rewards for breaking it.

>>24618686
I'm saying that they speak of privacy and private smart contracts when it's actually pretty fucking public on their network.

>>24618681
because nobody can see an order before it is committed
it is committed within a black box nobody can read which is called Intel SGX (that chainlink uses and Ari Juels likes to talk about).
And this is built into the consensus protocol.
So no, not even the people running the nodes are able to front run. Because the order cannot be read by anyone before it has been matched.

>>24618681
the nodes can't see the data either
>>24618432
based anon, I felt like I was the only one in on this

>>24618852
The data is encrypted, not public.

>>24618852
can you link to me an example of how I could read someone's data? I don't have the knowledge in this shit to be able figure it out myself.

>>24618825
>Nobody has been able to break the privacy in the 2 months that it has been live
because it's literally useless right now, wait till there's an incentive to break it. They have no security experts on the team, it's bound to fail in a big way if someone like uniswap adopts it, and WHEN someone breaks it, everyone will want off the ship

also there seems to be some global storage to store a contract's state, so all it would take is 1 node to get a job scheduled to it (not hard if there are a lot of transactions) and it would know about everything going on in the state, i.e. they can just read the whole order book

>>24618781
weird take, just a matter of probabilities you shizo

>>24618955
>the nodes can't see the data either
OF COURSE THEY FUCKING CAN,, HOW ELSE WOULD THEY RUN THE CODE THAT DEPENDS ON THE DATA???????
>>24618916
>it is committed within a black box nobody can read which is called Intel SGX
>what are VMs
you're retarded if you think they won't be able to read it

>>24619021
So are you saying that a private smart contract is inherently impossible right now?

>>24619053
it will always be impossible as long as you let third parties run nodes, you can't trust that someone else's machine is playing fair

>>24619021
pic related

>>24619053
Yes. And anyone who tells you otherwise is a retard. You have to give third party actors access to the data to work on it. Otherwise the concept is useles. Which, funnily enough, it is!

Fuck SCRT/ENG shills. Fucking pajeets.

>>24619103
>what are exploits
https://github.com/enovella/TEE-reversing#tee-exploitssecurity-analysis

SUTER is what you are looking for.

>>24619100
>>24619201
So you're saying that all the crypto experts that just put money in rose overlooked this and the guy from berkley is a scammer/moron? Obviously there are always exploits to things.

>>24619021
before a node can join the network the SGX unit is verified by Intel
so yeah, you have to trust Intel unfortunately
but it's a pretty big company with many security experts there

>>24619201
but only the processor gets access to the data
the third party actors cannot read it

>>24619200
so first you reeee at me with 'how could the computer possibly run the code other wise?!
now suddenly you are a TEE code master?
I honestly don't know enough to say either way, but you are coming off as a desperate fudster and troll.

buy SCAT

>>24619103
also, their example is pretty shit, TEE in local execution is legit.
But in their case, it would be more like encrypting your fingerprint, sending it to some server in the cloud and it telling you if it's correct. Obviously the server needs to decrypt the fingerprint to be able to tell if it's correct, the server WILL know your real fingerprint, there's no way to prevent that.

>>24619409
well, i did my research, how about you DYOR? instead of putting your money in something that looks good on the surface, but has obvious problems below the surface

>>24619441
but how can it read the fingerprint if it is only decrypted within the black box?
nobody is able to read the content of the black box

>>24619441
ok, work with a finance guy for a sec.
Sender has pic of their fingerprint. Sender wants to verify that it is their fingerprint and if true, execute a program to send $1 to receiver.
Sender encrypts pic of fingerprint and sends it to server, which passes it to their TEE. TEE decrypts, passes true/false and relays that to info to smart contract also inside TEE. Contract then shows correct and is relayed across the network.

You are saying that it would be easy for the server to just grab the unencrypted info from the TEE?

I just don't get how if this is so elementary Oasis managed to raise so much money from big players.

>>24619563
I have done my research, as much as I can without knowing much about security or coding. I don't understand much about how Ethereum or other cypro works either, but BS gets called out pretty quickly in this space, and this isn't a super new project.
Your argument amounts to 'doesn't work' hence you sound like a shitty troll. So come with something real, or be ignored.

>>24619597
>>24619624
would you 100% trust a random node that their blackbox is secure? what if they make something resembling a blackbox, or just run it like normal code? All it takes is one bad actor for all this to fall apart, and you wouldn't even know when that happens.

I'm pretty sure this wouldn't even pass GDPR, despite what Secret Network may be saying.

https://www.theregister.com/2019/02/12/intel_sgx_hacked
https://www.csoonline.com/article/3489502/remote-hackers-can-modify-cpu-voltage-to-steal-secrets-from-intel-sgx-enclaves.html
https://www.securityfocus.com/bid/101919
https://www.securityweek.com/intel-chip-flaws-expose-millions-devices-attacks

>>24619947
if any new exploit was found in the TEE the whole network would have to be instantly shut down and wait for nodes to update their firmware, it could take days if not weeks. Do you think DAPPS like uniswap can afford that kind of downtime?

>>24619868
> what if they make something resembling a blackbox, or just run it like normal code?
1) that would be very hard to do
2) it also needs to go through through the remote attestation https://software.intel.com/content/www/us/en/develop/topics/software-guard-extensions/attestation-services.html


> wouldn't even pass GDPR
it does if people give consent

>>24619947
>old articles
I don't understand why you're so desperate to fud this. Not done accumulating?

>>24620120
>2) it also needs to go through through the remote attestation https://software.intel.com/content/www/us/en/develop/topics/software-guard-extensions/attestation-services.html
that was broken too
https://twitter.com/themadstephan/status/1270403954946592769

Is the Defi segment the most profitable options for investors ?

>>24620080
Ok, keep working with me. Let's assume all this is 100% true and the volume on rose/suter/scrt is enough to begin to warrant attacks of this like and they aren't too difficult. Couldn't the network defend itself by just spiking the self delegation required for validators to be on mainnet? It would force them to have enough skin in the game for an attack to be net-unprofitable.

And in the case of Oasis, wouldn't the node decentralization alleviate most of this?
"Trustless" is a meme at the end of the day. A single guy at Barclays with a few days of known lead time can make himself very wealthy by the time he has a new look in a 3rd world country

>>24620367
>decentralization
centralization*

pls sirs

>>24620367
I'm also interested in learning more about how legit this all is, but that anon seems to just be spewing random fud as if a couple examples of security exploits means the entire concept is dead.
we all know new security exploits get found all the time. Smart contracts get hacked, the problems get fixed, people learn things and move forward. even major companies get hacked all the time
if there is a major flaw in SCRT or other tokens, I'd also love to hear it but it needs to be convincing
In the meantime, price is going up, ocean partnership soon, not selling.

>>24620367
you wouldn't know if a node is compromised or not, the value is in the data, they would still be producing correct outputs. They would be indistinguishable from normal nodes.

>>24620743
I can completely accept that this shit could implode. But if the secretxxx tokens work as advertised and you could trade secretUSDC for darknet drugs (barring the us gov somehow managing to force people to reject stableusd coins to scrt bridge accounts). This would be a $5 bill coin easy. For now I'm willing to let this ride and I'm looking at rose too

>>24620848
But you see my forced self interest argument right. Provided people start using this to swap, forcing nodes to have large personal investments would solve that issue no?

>>24620915
i'm not sure what you mean, if you find the bad actors you can punish them, but how would you find them?

>>24621171
You wouldn't need to. Market manipulation would be the biggest point of an attack (ignoring glowies). Generally participants can notice when they're being front run. Problem would be self liquidating. A node front running everyone would spoop traders causing people to stop using once they noticed (if it's material enough vs other swap platform costs). Would cause token price to implode. Forcing nodes to pony up lots of personal cash would mean that they would either have to front run for YEARS undetected or they would see their millions in 21 day locked token lose almost all of their value. Same reasons banks don't just credit their directors and ceos accounts several million dollars a day

>>24616955
The real winner won't have a token, it'll be a private execution environment on ETH2.

>>24621362
When

>>24621446
Later. Possibly you could make money off some meme in the meantime but be aware it'll get wiped out eventually by something similar to optimism, but private.

>>24621362
wouldn't that take at least 3 years to do?
they need to hardfork to put it in, so every node in the network has SGX

>>24621613
Yeah it won't be soon. zk-based ones are possible too. That's why I said in the meantime.

Yes. Let's wait 3 years for a workable solution from ethereum...

>>24621637
but then you cannot solve problems like a + b = x
for instance
you need mpc or tee for that

>>24621717
>Wait 30% of an assets class' current lifetime for a solution
The absolute state of crypto

Just use Secret. Its live and working and much more decentralized than Rose.