/biz/ - Business & Finance

The momentum of the cryptocurrency space has snowballed exponentially over the past decade. Each market cycle to this point has brought a cornucopia of new strides and breakthroughs in blockchain technology. The rapid growth has led to immense profits for an uncountable number of long-term participants.

Adoption continues to spread with increased institutional backing and consumer payment channels. Indeed, all signs point to cryptocurrencies reaching a new plateau on the stage of global commerce. An essential question must be asked at this transitory junction in what appears to be the early stages of another bull market. How far will profit allow the underlying blockchain technology to deviate away from the roots of its essence and justification? There is no better source to reflect upon than the Cypherpunk Manifesto.

That which ages among the best is that which only becomes more biting and significant over time. Originally published by Eric Hughes in March of 1993, the Cypherpunk Manifesto has a short, sweet, and directly to the point message with an especially understated foresight about it that’s decades ahead of its time. It is a must-read for any digital native. It emphasizes the essence of digital privacy, decentralization, censorship-resistance/immutability, and the freedom to remain anonymous at-will. It argues that these principles be made manifest for any form of communication or commerce. Its backbone lies with every individual coder who cherishes the fruits of civil liberties and dares to counter and obsolete the many intrusive and invasive forms of technology with open-source, cryptographically effective solutions for the greater good of society.

>>26021806
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.

>>26021806
>>26021873
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.

>>26021806
>>26021873
>>26021941
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.

>>26021806
>>26021873
>>26021941
>>26022008
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.

Do Stakenet have a browser extension for chrome, like Metamask?
If not, how can I buy XSN? I dont want to buy on CEX, I'm looking for a solution similar to Metamask, but which uses other coins, like BTC and LTC.
I visited Stakenet website but it all seems confusing and theoretical. Do I need to run a masternode to be able to use the DEX? How many gigabytes will I need for it?

nigga who have time to read all of this

>>26022323
you can buy XSN in whitebit with usdt

Okay so now how do i turn my ETH into USDT to buy XSN?

Why is this shit so hard bros am i just retarded or does everyone suck this bad when theyre new?

>>26022461
Its simple once you have your ETH Transfered to whitebit transfer your eth to transfer from main balance to trading balance, then trade your ETH to usdt and your good to go

>>26022378
Sorry, its reserved only for those with the capacity of making it. Looks like you fail by default. Maybe next lifetime? gl

>>26022542
Yeah i think i got to the main balance —> trading balance part, but im having trouble figuring out how to actually do the trade from ETH to USDT.

>>26022918
go to trading search XSN coin and there you can buy or sell the coin

When my coin is on the cloud do I have to keep my computer on to stake?

>>26022461
Go to your portfolio, transfer your ETH from your 'main' wallet into the 'trading' wallet, then go to the market, go to ETH/USDT and sell your ETH for USDT, then go to XSN/USDT and buy XSN

>>26023024
nah

>>26022989
>>26023080
I finally got it! Thank you bros. I wasnt able to buy much but now that i know how to do it ill buy all the way up to $5 or so as i can

I just hope some of my job applications hit

>>26021791
Total cryptonoob and /biz/ newfag here : just converted Tether to XSN with Whitebit
Now I want to transfert my XSN from Whitebit on my Stakenet cloud deposit, but it says it's an invalid adress (I pasted Stakenet "Deposit addresses in Whitebit "Withdrawal address" but I have "ETH address is not valid")

>>26023316

Son are you trying to get rekt?

>>26023316
Is your XSN in your trading account or main account?

>>26023316
you copy wallet address from stakenet and then go to whitebit > withdraw and paste that address

bought 1835 xsn cause it's all I have

am I gonna make it bros

>>26023520
welcome fren

>>26023520

>>26023457
>>26023492
>>26023504
Ok just realized it's because I bought SNX and not XSN... lucky that I just started with 20$ to understand how it's working kek

>>26023596
you can convert it back to usdt and then buy xsn but yea you ll lose small amount to exchange jews

>>26023596

>>26021791
4 MNs here. I am unbelievably comfy, $10 EOY.

>>26023596

>>26023722
1 MN chad here. I want more but don't want to bring up my cost basis.

>>26021791
tell ya what doesn't have an infinite supply like XSN secretly does.... Blocknet

>>26023520
put it on the stakenet cloud wallet and earn some stakies. By the time it reaches 2000, you'll have made it.

>>26023520
Put it in the stakenet cloud wallet and earn some extra stakies. By the time it reaches 2000, you'll have made it.

>>26023596
How did you fuck up so bad
You know what? This is proof that this coin is a scam, if retards like this guy are investing into it

will it be easy to take some profit from XSN on the stakenet cloud back to fiat?
I know dumb but I will take a tiny bit of $$$ back (<$500 USD) once it moons past $5.

>>26023900
i thought the same thing at 30 and 40 cents, i bought an extra 10k at 56 cent

Is it normal the whitebit withdrawal status is "Successful" but nothing appeared on my stakenet cloud yet ?

>>26024360
sure just send it back to whitebit and trade your stakies for usdt

>>26024465
yeah it takes a little while to appear, don't worry I panicked about the same thing a few hours ago

>>26024465
it takes up to an hour to show up... Took me like 30 mins to show up too no worries lad

last question
Since all my stakies are still on whitebit

is it true it becomes a tax mess once I start staking on stakenet cloud?
Can I just easily export all my transactions or something. don't want to create a headache here. Just want to make sure it is worth it to remove it from whitebit?

Sorry, total noob here

>>26022404
Is the core wallet (in https://github.com/X9Developers/XSN/releases)) already enable to switch XSN/BTC and BTC/LTC? The project seems cool, because its DeFi in L2. If they do well, I think it will crush UNI.
I stopped trading ERC20 a month ago, due to the absurd fees.

>>26024685
the cloud has a history but it's full of .0001 XSN rewards. If you do it in the core wallet it's bigger rewards over bigger time periods and you can export the history to a CSV excel file.

>>26024742
oh that sounds horrible...

>>26023993
DID U SAY BLOCKNET REEEEEEEEEE