How to align ruby string to left or right? - Stack Overflow

I'm trying to put together a list of what's coming out this year. Have this very simple list so far. Anyone care to add anything or suggest some better dates?

Latest News (most recent first) - Instant channels enable safe Lightning payments with unconfirmed funding Beta - Feb 10, 2019 - Voyager, New trading app from Uber & E-Trade execs announce launch date - Feb 9, 2019 - bumi/blockstream_satellite ruby gem for the Blockstream Satellite API - Feb 8, 2019 - New Zap Desktop 0.3.4 is out. New features, massive performance - Feb 8, 2019 - New release: @lightning desktop app v0.4.0-alpha - Feb 8, 2019 - valerio-vaccaro/Liquid-dashboard - Feb 7, 2019 - Japanese SBI Holdings will allow trading of coins - March 2019 - lnd v0.5.2-beta released - Feb 6, 2019 - Koala studios launches online LN gaming platform - Feb 6, 2019 - Independent Reserve has become the first #crypto exchange in Australia to be insured, with coverage underwritten by Lloyd's of London. - Feb 6, 2019 - Coinbase announces BTC support for their mobile (keep your own keys) wallet - Feb 6, 2019 - Blockstream published a new open source Proof of Reserves tool. - Feb 5, 2019 - RTL release v0.1.14-alpha - Feb 5, 2019 - dr-orlovsky/typhon-spec spec for new trestles side chain published - Feb 5, 2019 - Payment requests coming soon to BTCPay. - Feb 5th, 2019 - Kraken Acquires Futures Startup In Deal Worth At Least $100 Million - Feb 5th, 2019 - Next Blockchain cruise scheduled for June 9-13 - Feb 4, 2019 - Work on a GoTenna plugin to Electrum wallet in progress - Feb 4, 2019 - Bitcoin Candy Dispensers being open sourced - Feb 4, 2019 - New release of JoinMarket v0.5.3 - Feb 4, 2019 - Prime Trust won’t charge its clients to custody digital assets any longer. - Feb 4, 2019 - nodogsplash/nodogsplash wifi access using LN - Feb 3, 2019 - @tippin_me Receive tips using Lightning Network adds message feature - Feb 3, 2019 - Bitcoin-for-Taxes Bill in NH Unanimously Approved by House Subcommittee - Feb 3, 2019 - Full support for native segwit merged into bitcoinj - Feb 3, 2019 - Bitfury is partnering with financial services firm Final Frontier! - Feb 2, 2019 - Now you can open #LightningNetwork channels in @LightningJoule - Feb 2, 2019 - Integrating Blockstream’s Liquid payments on SideShift AI - Feb 1, 2019 - Wyoming legislature passes bill to recognize cryptocurrency as money - Feb 1, 2019 - Casa is open sourcing the code for the Casa Node - Feb 1, 2019 - Casa Browser Extension released - v0.5.2-beta-rc6 of lnd, full release getting very close now - Feb 1, 2019 - Tallycoin adds subscriptions and paywall features in bid to rival Patreon - Jan 31, 2019 - Static channel backup PR merged into LN - Jan 31, 2019 - The NYDFS grants another Bitlicense to ATM operator - Jan 31, 2019 - @pwuille currently proposing the “MiniScript” language to describe BTC output locking conditions for practical composition - Jan 31, 2019 - Fidelity is in the “final testing” phase for its new digital asset business - Jan 31, 2019 - Hardware wallet PR #109 just got merged so that @Trezor no longer requires user interaction for PIN - Jan 31, 2019 - CBOE, VanEck & SolidX filed a new & improved bitcoin ETF proposal. - Jan 31, 2019 - Casa Node code is now open sourced - Jan 31, 2019 - Next Bitoin halving in roughly 497 days - Jan 31, 2019 - BTCPay released - Jan 31, 2019 - @binance now lets users purchase cryptos using Visa and Mastercard credit. - Jan 31, 2019 - Bitfury to Launch Bitcoin Operations in Paraguay - Jan 31, 2019 - Coinbase introduces very generous affiliate program - Jan 30, 2019 - DOJO Trusted Node bitcoin full node. Coming Early 2019 - Jan 30, 2019 - Enables Cash-for-Bitcoin Exchange Via the Lightning Network - Jan 30, 2019 - TD Ameritrade says clients want cryptocurrency investment options - company plans major announcement in 'first half of 2019' - Jan 30, 2019 - Storage component of Fidelity's @DigitalAssets live, with some assets under management, @nikhileshde - Jan 29, 2019 - lightning mainnet has reached 600 BTC capacity - Jan 29, 2019 - Drivechain shows picture of Grin side chain and suggests might be ready in 2 month - Jan 29, 2019 - Lightning labs iOS neutrino wallet in testing stage now - Jan 29, 2019 - Aliant offering cryptocurrency processing free-of-charge - Jan 29, 2019 - Chainstone’s Regulator product to manage assets on the way - Jan 29, 2019 - Fidelity Investments’ new crypto custody service may officially launch in March. - Jan 29, 2019 - Gemini's becomes FIRST crypto EXCHANGE and CUSTODIAN to complete a SOC 2 Review by Deloitte - Jan 29, 2019 - Iran has lifted the ban on Bitcoin and cryptocurrency - Jan 29, 2019 - Confidential Transactions being added into Litecoin announcement - Jan 28, 2019 - Enables Cash-for-Bitcoin Exchange Via the Lightning Network - Jan 28, 2019 - Germany’s largest online food delivery platform now accepts btc - Jan 27, 2019 - Launching a Bitcoin Developers School in Switzerland - Jan 27, 2019 - RTL release v0.1.13-alpha Lightning Build repository released - Jan 27, 2019 - The first pay-per-page fantasy novel available to Lightning Network. - Jan 27, 2019 - Numerous tools become available to write messages transmitted with Blockstream Satellite - Jan 26, 2019; - BTCPay released - Jan 26,2019 - WordPress + WooCommerce + BTCPay Plugin is now live - Jan 25, 2019 - Juan Guaido has been promoting #Bitcoin since 2014 is new interim president of Venezuela - Jan 25, 2019 - Morgan Creek funds @RealBlocks - Jan 25, 2019 - Coinbase integrates TurboTax - Jan 25, 2019 - Robinhood received Bitlicense - Jan 25, 2019 - Anchor Labs launches custody - Jan 25, 2019 - NYSE Arca files w/ @BitwiseInvest for BTC ETF approval - Jan 25, 2019 - South Korea, Seoul, Busan & Jeju Island currently working to create pro crypto economic zones. - Jan 25, 2019 - valerio-vaccaro/Liquid-dashboard - Jan 25, 2019 - Bermuda to launch crypto friendly bank - Jan 25, 2019 - Mobile Bitcoin Wallet BRD Raises $15 Million, Plans for Expansion in Asia - Jan 25, 2019 - BullBitcoin rolling out alpha access of platform - Jan 25, 2019 - Electrum Wallet Release 3.3.3 - Jan 25, 2019 - Bitrefill, purchase Bitcoin and have it delivered directly over LN - Jan 25, 2019 - South Korean crypto exchange Bithumb looking to go public in USA - Jan 24, 2019 - Bitcoin Exchanges Don’t Need Money Transmitter Licenses in Pennsylvania - Jan 24, 2019 - US; New Hampshire Bill Aims to Legalize Bitcoin for State Payments in 2020 - Jan 24, 2019 - Robinhood, LibertyX Receive Licenses from New York Regulators - Jan 24, 2019 - Bakkt Bitcoin futures contract details released - Jan 24, 2019 - Blockstream CryptoFeed V3 now includes 30+ venues and 200M+ updates per day - Jan 24, 2019 - Binance Jersey – The Latest Binance European Exchange - Jan 2019
Commit Activity
Nodes and Market Dominance
ASIC Miners:
Will update this section when I hear new developments
Hardware wallets:
LN Apps:
LN Extensions / Launchers
LN Desktop wallets:
LN Mobile wallets:
LN Network:
LN Nodes:
LN Plugins:
LN Services:
Liquid Network
Please comment if you have any ideas on dates. Many of these dates are placeholders waiting for me to update. If you comment then I will update the post.
submitted by kolinHall to Bitcoin [link] [comments]

10 obscure altcoins that merit a closer look by investors, with descriptions and reasoning for each

Disclaimer: I own varying small amounts of the currencies listed below, and as such it’s in my interest to see them gain in popularity. Keeping that in mind, you should examine these with a critical eye and decide for yourself whether they are good investments for you. If you disagree with my rationale for liking a particular currency, please say so and include your reasons. Likewise, if you think there are other obscure currencies I haven’t mentioned that also deserve consideration, please post them here. Please, no tokens in this discussion thread – currencies only.
At some point I got bored with hodling ether, and decided to dig deeper into altcoins in hopes of finding greater returns. My thinking is that if I can find a few promising projects that are on the verge of growth – not necessarily world domination, but just growth – and catch them early enough, I stand a greater chance of finding one that is going to grow 2x, 10x, or more. I figured, what the hell, I’ll put $10 on a bunch of long shots. If one fails then I lose $10, but if it succeeds and the price goes from $0.002 to $0.12 then I will achieve a 60x return on my initial investment.
With that goal in mind, over the past week I took a deep dive into the 800+ currencies that are ranked by market cap at . I ignored the top 25 and kept digging deeper, mostly looking at those ranked 150 and higher. In evaluating each currency I used their market cap rank as a proxy for popularity. My thinking is that the list is not necessarily ordered correctly according to each project’s potential (because market knowledge isn't perfect). There are dead projects in the top 100 and more promising ones in the mid-300’s. I am looking to help reorder the list by investing in coins that are at, for example, rank 287 but deserve to be at 137 based on their fundamentals.
None of the currencies I found are on the verge of becoming the next Ethereum-killer. Again, I’m not looking for coins that will achieve world domination. I’m just looking for ones that deserve to be higher in the rankings than they are, so I can invest in them very early before others start to recognize their potential. They should have at least one fundamental quality that gives them a glimmer of promise for growth.
With all that out of the way, here are some of the obscure currencies I came to like, listed in order of their current market cap ranking (i.e. from least to most obscure):
GULDEN (currently #77)
Reason: Gulden is a project based in the Netherlands that is focusing on user experience with a great level of attention to detail (including the intial sync time and onboarding experience). They are trying to make their apps very intuitive and easy for the average user. They have a large concentration of users in the Netherlands, dozens of Dutch merchants who already accept the currency, a strategic relationship with payment processor, and a program to airdrop starter currency to all Dutch citizens. They are starting to catch on in neighboring countries, and given their ease of use it’s possible they could end up becoming the WhatsApp of money transfer in Western Europe.
All of those things are promising but not earth-shattering by themselves. Here’s another reason I’m bullish on Gulden: they are one of only a handful of currencies that can be exchanged directly for fiat. One of the reasons that Bitcoin is so big is that it is the main on-ramp to the crypto world for most people. Gulden makes it easy too - you can purchase it from their home page using Euros. If Bitcoin becomes difficult to use around August 1, or if exchanges continue to be slow at verifying new accounts, I can see Gulden catching on among Europeans as a fast, easy way to initially convert fiat to crypto form.
VERTCOIN (currently #109)
Reason: Like many currencies, Vertcoin is a direct fork of Bitcoin. The Vertcoin founders wanted to make it ASIC-resistant so it would remain more decentralized. I first discovered it in 2014 and was impressed by it then. Since then, it has been chugging along reliably, and the dev team has added stealth addresses, SegWit, and Lightning network. It’s arguably a better Bitcoin than Bitcoin at this point. I think of it as part of a family that consists of BTC, LTC, and VTC. Vertcoin is the lesser known cousin, but I think it’s about to become much more visible because cross-chain atomic swaps with Litecoin will soon be possible. The code is already done on the Vertcoin side and at this point is just waiting on Litecoin to reach that step in their roadmap. Surely with all these things going for it, Vertcoin will end up in the top 100.
FEATHERCOIN (currently #134)
Reason: Another Bitcoin fork that uses a different algorithm. Has a decent infrastructure around it, and an active user base. Seems to have longevity as it’s been around since 2013. I can’t speak to whether the algorithm changes offer any long-term advantages over Bitcoin. All in all it seemed solid enough to drop $10 on. I’ll park it and check back in a few years.
RISE (currently #193)
Reason: Rise was launched in 2016 to much fanfare, with promise of GUI-based Dapp development tools (i.e. drag & drop dapps for end users) and well-documented SDKs for all of the popular programming languages (Ruby, Node, Python, etc.) plus a bunch of other goodies. It didn’t come to fruition. From what I can gather, there are accusations and rumors that someone scammed the project out of ICO funds and disappeared. In recent months, the project has been completely rebooted by some of the original community. It has adopted a new hybrid Ark-Shift blockchain, and is in the process of swapping over to that with the help of the Bittrex exchange. They’re also busy checking in SDKs to Github, and bringing social media back online. Is it going to be the next Ethereum killer? Who knows, but it definitely seems like it’s destined for a higher ranking than #193, and it definitely seems like a steal given the current low market cap and price. Like, the upside potential seems enormous on this if they see things through with the reboot. I’ve not bet the farm on Rise, but I’ve definitely put a couple extra cows on it compared to the other ones in this list.
ARTBYTE (currently #207)
Reason: This is yet another currency that is designed for a specific market – in this case, the art world. I generally don’t see a future for sector-specific currencies as they offer no advantages over using a general-purpose currency. What caught my eye about this one is that the team’s social media game is on point. They are tirelessly reaching out to artists to promote the currency and build name recognition. I admire their tenacity and think it could result in them gaining a toehold and eventually pivoting to some specific use within the art world. Total long shot, but I figure it doesn’t hurt to put $10 on it and check back in 10 years to see if it’s still around.
MYRIAD (currently #220)
Reason: Multi-algorithm coin with good visual branding and an active community around it. I am not in love with its fundamentals and don’t see it catching on in a huge way, but just the fact that the project is alive makes it deserving of a higher rank than #220 IMHO. There are far worse coins than this one in the top 200. So, I’m betting here on slight growth rather than world domination.
HUSH (currently #235)
Reason: Hush is a private implementation of the "Zerocash" protocol, and was forked from Zcash in spring 2017 by one of the contributors to that project. It has a decent web site, a small and dedicated team that seems technically competent, plenty of recent Github activity, and a relatively low current market cap. I’m betting that Hush will rise from #235 to somewhere in the mid-100s.
AUDIOCOIN (currently #239)
Reason: This team has at least made an attempt at developing a coherent business model. I’m not real convinced at this point that it’s viable, but they seem passionate about it and with some time may be able to refine it. I can see it someday being a backbone marketplace for musicians and listeners, based on audio streaming credits. Given that the price is so low, I’ll buy a tiny bit and check back in 10 years.
SMARTCOIN (currently #355)
Reason: Seems like a solid, functional coin with decent branding, infrastructure, and user base – at least, much moreso than other coins in the mid-350’s. I’m betting that it will eventually rise to the low 200’s.
SLIMCOIN (currently #862)
Reason: Slimcoin is another project that was left for dead but recently revived. It uses a technique called Proof-of-Burn (PoB) and is designed for energy efficiency and use on small devices. This currency is easily more viable than at least 600 of the other defunct joke currencies above it in the list. I placed a bet that this one will rise from rank #862 to somewhere in the 200’s or 300’s.
Again, if you think I’m full of shit on these picks, please post below. If I’m making a bad investment on any of these, I definitely want to know about it. Similarly, if there are any other dark horse coins you think people should know about, list ‘em below and make sure to include reasons – not just the name of the coin.
submitted by FlexNastyBIG to CryptoCurrency [link] [comments]

Stratis: A Quick Look at the Competition in the BaaS Space

In an earlier post I detailed why I thought Stratis is a good investment. However, Stratis doesn't exist in a vacuum and faces competition in an ever-crowding Blockchain as a Service (BaaS) space.
Meet the Competition
Stratis faces competition from an increasing number of platforms all offering slight twists on sidechains.
Ardor ($93.2M Market Cap)
Ardor is a new sidechain plaform from the NXT team. Currently the Ardor token is an NXT asset, but this will change in 3Q2017 with the mainnet launch, where Ardor will become its own token. Following the mainnet launch, side chains can be created. Sidechains will not require the ARDR token for use on child chains. Ardor will allow childchain tokens to be moved between sidechains without the use of a traditional exchange, like Bittrex. To keep the size of the blockchain, Ardor will implement pruning of side chains from full nodes on the main chain, scheduled for 1Q2018.
The first childchain for Ardor will be Ignis, and it was recently announced that Bitswift will convert from their blockchain to use the Ardor platform. I think Ardor will beat Stratis to market in making their first sidechain go live. The NXT team has a proven-track record and longevity, which will benefit Ardor.
In terms of scope, Ardor seems to have the most narrow scope, but I see that as a positive. With a limited talent pool within cryptocurrency, projects will eventually be required to produce results and lofty dreams will eventually give way to product-oriented valuations.
Lisk ($185.0M Market Cap)
Lisk is a framework for sidechains and developement of apps on top of them. Lisk itself is a fork of Crypti, and utilizes delegated proof-of-stake (DPoS). In DPoS individual users, Lisk token holders will use a proxy for their coins and join up with a delegate who stakes an entire group together, unlike Stratis' staking where every user stakes his/her coins individually. Lisk allows for a maximum of 101 delegates.
Lisk is developed in JavaScript, differing Stratis' development in C#. I have read that JavaScript and C# are dissimilar enough to compete for a different markets and won't directly compete, but I'm not persuaded. The Lisk sidechains can use LSK as the token used on the sidechain, or a custom token. Lisk will offer decentralized user interfaces for their apps, as well as on the backend. Lisk places an emphasis on public blockchains/sidechains. One takeaway that I was left with from their whitepaper was how code from one sidechain would be used in another sidechain (due to its public nature), which would benefit the community as a whole. This differs strongly from Stratis, where many of the sidechains would be enterprise clients, who have an interested in securing their proprietary data.
Ark ($36M Market Cap)
Ark is a fork of Lisk, offering instead of sidechains the ability to link different blockchains. Ark links Ark to other blockchains using SmartBridge, through the use of special data fields and encoded listener nodes. The listener nodes act upon instructions in the data field and can execute a transaction to another blockchain, provided that both are SmartBridge compatable. SmartBridge compatibility can be added to existing blockchains and SmartBridge will first tie together Bitcoin, Ethereum, and Lisk. Ark will offer a service bridge to Lisk blockchain apps. Ark's roadmap includes future plans to create an Ark-card network. Ark encourages the creation of more blockchains, even through a fork of itself.
Ark modified Lisk's DPoS, using 51 delegates and ~6% inflation which decreases over time. The 51 delegates are equally weighted, so that no individual user will have too much stake in the network. The Ledger Nano S hardware wallet will now support Ark natively.
Ethereum ($16.5B Market Cap)
Ethereum is not a BaaS service, nor does it offer sidechains, but there is some overlap. Ethereum and Stratis will compete in the ICO space. I'm not going to describe Ethereum, as there's plenty of literature on it written by people much smarter than myself.
Rise ($6.2M Market Cap)
Rise is another sidechain platform with a focus on security and user interface. Rise is developed in JavaScript, but will offer connections to other blockchains developed in JavaScript, Python, Ruby, C#, and Java through connections through Rise Nodes. Rise has a focus on security, and will provide a separate security whitepaper prior to testnet launch. Rise allows users to create a multi-signature group consisting of several Rise users, which can authorize transactions and submit it to the blockhain. Rise will offer smart contracts, which can be created through a GUI.
Within each sidechain Bitcoin, Rise, or a custom currency can be used for transactions. A distinguishing item of note is that Rise will provide aliasing for wallet addresses, allowing users to select an alias rather than use the default hex address. Rise will also offer a contact system, where users can follow other users similar to Twitter and can be used as a reputation system. Rise is in the process of shifting blockchains, moving to an Ark-Shift hybrid blockchain.
HyperLedger (N/A)
HyperLedger is a framework to support multiple blockchains developed for business with a focus on performance and reliability. Hyperledger is a collaborative effort, with over 140 members (including some from the cryptocurrency domain like NXT, Lykke, and Blockstream). There are five business blockchains hosted with Hyperledger, Burrow, Fabric, Iroha, Sawtooth, and Indy. They have stated that they will never build a cryptocurrency, so there will be no need for mining.
Although Hyperledger is not a cryptocurrency, it will directly compete with Stratis for enterprise-level blockchain solutions. Hyperledger has some huge partnerships, including IBM, Intel, and American Express.
While I strongly believe in the success of Stratis, it does face increasing competition both established and emerging. There's a lot of technology to review and understand from each of the above platforms and I am no means an expect on any (or all). I'm sure I got some information incorrect, so feel free to let me know and I'll do my best to fix it.
Disclosure: I am/we are long STRAT, ARDR, RISE.
I wrote this post myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any coin/platform that is mentioned in this post.
submitted by TrixAreFourKids to stratisplatform [link] [comments]

Ethereum's advantages for Bitcoin highlight how Ethereum has won the smart contract market for years to come - at a minimum

If you're new to Ethereum, but in love with Bitcoin, you may be thinking, "well, Ethereum is winning now, but Rootstock is still a contender". This topic come up frequently and has been addressed community members quite well. Because posts get censored elsewhere, and deleted over time, I thought I'd reiterate the points here.
tl;dr Using Ethereum to create bonded side chains has advantage to Bitcoin holders that cannot be obtained by non-currency agnostic chains (such as the proposed chain called Rootstock). Ethereum is better for Bitcoin, and with PoS, is more secure.
Rootstock is currently a proposal to be the path to creating smart contracts with Bitcoin. There is this idea out there called “bitcoin maximalization” in which a some cryptocurrency enthusiasts will only accept Bitcoin as THE blockchain of the future. Well, the challenge with that idea is that, while Bitcoin was the first successful blockchain, it is also slow, expensive, and the least-developed. Bitcoin maximalists believe that will change. They believe that bitcoin will adapt. They think Bitcoin will incorporate more technological innovation and maintain global dominance. Sadly, this belief still holds true for many, despite the clear conflicts between mining, development, and exchanges that have driven the long drawn out block size debate. Bitcoin ability to adapt and incorporate new technology is clearly questionable.
One technological revolution brought on by Ethereum has been the smart contract (programmable automated contracts). Ethereum has had a year long monopoly on this innovation, and the monopoly appear to be maintain for the foreseeable future. Bitcoin maximalists do not like that idea. They feel it is a threat to Bitcoin dominance.
While bitcoin and Ethereum COULD make lovely music together, the idea that Bitcoin could lose its dominant position (by market cap) is likely true. Ethereum has many more use cases. This doesn’t mean Bitcoin will go extinct. As a streamlined, non-bloated, currency, it may still be very useful, but I digress.
What if Bitcoin could simply gain Ethereum’s technological sophistication? Rootstock desires to do just that, well, sort of, and for a piece of the pie. For that reason, it’s often promoted by /Bitcoin (a highly censored bitcoin community similar /btc).
So how will Rootstock plan to achieve this?
First, understand Rootstock is currently vapor. An idea and an implementation can be worlds apart. At the time of this post, there is not a single line of code on Github, while Ethereum has just matured to "Homestead" and is running perfectly. While some describe Rootstock as “open source”, currently, nothing is open. Ethereum development took years to get where it is today, and the open aspect of the development led to Etherum’s current remarkable sophistication and stable platform.
But let’s assume, fairly, that Rootstock does eventually emerge from vapor. Rootstock developers are borrowing some of Ethereum’s technology. Thus, in some sense, some of the work is provided for them thanks to Ethereum. Of course, it is easy to overstate. You can’t just cut and paste Ethereum and have it work. It requires a massive amount of development.
So what will Rootstock look like.
Currently, they have two major version planned:
vovobov (throwaway account) had this nice contribution:
Ethereum as a bonded sidechain of Bitcoin with advantages over Rootstock
What is a sidechain?
According to block stream:
A sidechain is a blockchain that validates data from other blockchains
Ethereum already does that with BTC Relay. So how about pegged assets?
This is an idea for an Ethereum contract that makes Bitcoin-backed tokens without any softfork or trusted Bitcoin multisig managers. Instead, Bitcoin IOU's are created on the Ethereum blockchain and backed by Ether bonds which are governed by Ethereum contracts like BTC Relay or price oracles. The Bitcoin IOUs are backed by Bitcoins held by the escrow managers but if they steal/lose the Bitcoins (or refuse to redeem them) the Bonded Escrow Contract will observe their naughty behaviour and sell their Ether bond to redeem the Bitcoins from someone else!
Rootstock vs Bonded Escrow Contract on Ethereum
There are two methods that Rootstock developers plan to use for issuing Bitcoin IOUs (called "Roots") on their Bitcoin "sidechain". AFAIU the first involves merged mining and a multisig wallet that entrusts a quorum of Bitcoin miners with the entire basket of Bitcoin eggs that were "moved" to the Rootstock chain. The second method requires softforking the Bitcoin blockchain for a two-way peg.
Pseudonymous, distributed, untrusted issuers
Rootstock dev maaku7:
“It's a known trade-off made by any presently deployable implementation of the 2-way peg. It's also something that we were very upfront about in the sidechains paper, and part of the reason why many of us are so concerned about decentralization of bitcoin mining.
In any non-SNARK, non-extension-block version of the 2-way peg a bitcoin node does not perform full validation of the sidechain as part of the consensus rules. Therefore it is perfectly possible (by design) for a threshold majority of the miners / signers to steal the coins in the peg pool, and censor any attempt to stop them. Why by design? Because that's the promise of sidechains: performant permissionless innovation at the cost of SPV trust in the honest majority of signers / miners.
Sidechains we are working on (e.g. Alpha, Liquid) and Rootstock, by the looks of it, make use of a fixed set of signers instead of or in addition to reliance on >50% honest hashpower. This is because while less pure, it is ultimately safer to work with known, contracted entities as functionaries rather than 50% hashpower which at the moment is just a small handful of unaccountable people.
EDIT: Although obviously the ideal end goal is fully decentralized mining, where creating a 50% hashpower cabal requires organizing thousands of people at minimum. In such a case we may be able to consider a pure SPV peg to have a reasonable security model. But we're a long way from there yet...”
says this about sidechain security:
“In any non-SNARK, non-extension-block version of the 2-way peg a bitcoin node does not perform full validation of the sidechain as part of the consensus rules. Therefore it is perfectly possible (by design) for a threshold majority of the miners / signers to steal the coins in the peg pool, and censor any attempt to stop them. Why by design? Because that's the promise of sidechains: performant permissionless innovation at the cost of SPV trust in the honest majority of signers / miners.”
Ether bonds can remove most of the need for this trust and allow pseudonymous, permissionless participation in issuance and escrow management. Without anonymous, untrusted validators, distributed around the world, Bitcoin is looking more and more like Chinese Liberty Reserve or E-gold. …
Bonded sidechains decentralize pegged assets
Even with a Bitcoin softfork, Rootstock has just one Bitcoin IOU with all the Bitcoins sitting like a duck in one "wallet". Since Roots are just one Bitcoin IOU from one issuer, they can't be used to back/bond IOUs the way Ether can. If Rootstock's multisig/SPV wallet is robbed by it's signers/miners or (as they always say) hackers, the value of Roots become "zero" along with any asset or contract using Roots. Ether continues to have value if Bitcoins are stolen. Theft just thins out the herd and makes people more cautious. Ether bonds make issuers mostly responsible for their IOUs with IOU holders assuming some risk if Ether loses too much value to Bitcoin.
Issuing servers and indie issuers
A basic Bonded Escrow Contract is practically complete since BTC Relay does the difficult part. "Bonded Escrow Contract" is completely decentralized and requires no modification to Bitcoin. It would allow anyone to "anonymously" manage Bitcoin escrow wallets or issue Bitcoin IOUs. They only need to obtain Ether for the bond, send it to the Bonded Escrow Contract along with their Bitcoin escrow address and the terms of the IOU they wish to create. Indie issuers don't have to babysit a "server" (that needs to be online all the time) if they create IOU contracts that won't have harsh penalties if they take some time to redeem the tokens. IOU buyers who want faster redemption can buy IOU's from issuing servers. Issuers are free to choose alternatives to SPV such as prediction markets, to verify Bitcoin transactions.
Bonded Escrow Contract options
Here are some options that the Bonded Escrow Contract could make available: * Designate how much Bitcoin the IOU tokens are to be worth and how much Ether will back them. This may be a fixed rate or it may be based on other Ethereum price oracle contracts. If a price oracle is used the issuer may have to add Ether to prevent the IOU from going into default if the Ether price goes down relative to Bitcoin. * Set exchange or rental rates for the Bitcoin IOUs. These rates may be in Ether and/or Bitcoin and could be based on oracle/derivatives contracts.
When IOUs aren't redeemed (right away)
What happens if the IOU's are sent back to the issuer but the Bitcoins aren't released right away?
In more recent news:
Rootstock devs (RSK) clarified that instead of creating a token, like Ether, which is sold to the public to fund initial development. With Rootstock, “every time a person or a corporation runs a smart contract on RSK, 80% of the fuel paid goes to the miners and the remaining 20% to RSK Labs, so we can continue the development of the open source platform”.
In other words, Rootstock is a sidechain business venture centrally controlled by RSK. Unlike Ethereum, it is NOT a public resource. This does not foster independent, open source, development, such as what we are seeing with ventures like Ethcore and Consensys and well, the many many other Ethereum developers well deserving of attention. If you’re planning to build on Rootstock, RSK labs get a cut of your expenses. Enjoy having a new boss. That doesn’t exist with Ethereum!!! The Ethereum Foundation started the enterprise, but Ethereum development is already much bigger than a single foundation.
sjalq also makes these fair comments:
Add to this is that Ethereum's PoS will be far more scalable, with Casper development reaching high levels of sophistication.
Basically, unless you absolutely refuse to hold anything but Bitcoin, there is no reason to ever use what's proposed for Rootstock. It's less capable, less secure, less scalable, more centralized, and will be two years behind Ethereum's remarkable network effect (at a minimum). Ethereum's monopoly is going no where for the foreseeable future.
Update: March 18th 2016
What About Counterparty?
  • In most repects, Counterparty's model has the exact same issues as Rootstock's outlined above, so it's the same problems as that described above. Unlike Rootstock, there will be an altcoin, but instead of currency agnostics, it's connected only to bitcoin.
  • Counterparty is also greatly limited by bitcoin's slow blocktime.
  • Detail discussion here.. Basically, Counterparty's model is a model that the Ethereum founders abandoned because it is a technologically poor decision.
  • More perspective from Ethereum dev Alex van de Sande.
    • "many ex-xcp developers who are migrating to Ethereum due to ease of development and better tools. [such as Bitnation] ... Also I don't understand the advantage of counterparty 'using Bitcoin': they also have their own token and their own Blockchain, what is gained by having a ten minute block time?"
    • "The 'there's only one Blockchain' crowd is what we call 'Bitcoin maximalism'. I think this is more a political position than a pragmatic one: Ethereum Blockchain is secure and created from the ground up for contracts. Counterparty is hack trying to put them into a Blockchain that wasn't made for it and doesn't seem to want contracts. I do wish them the best, I just never saw their software stack."
    • "... they claimed they had cloned us and then the next day Vitalik answered that he had implemented counterparty in X lines of codes in ethereum."
  • VB response to "What Ethereum can do that Counterparty cannot"
    1. <15s block time
    2. Light client support
    3. Lack of exposure to Bitcoin development politics (personally, I think this point alone is enough to outweigh whatever 8x difference in dollars wasted per hour on PoW the maximalists like to wave around, and was the original reason for not making ethereum itself a bitcoin-based metacoin)
    4. Lack of exposure to the possibility of Paul Sztorc convincing bitcoin miners that XCP decreases the value of BTC and so should be censored by miners.
    5. Lack of artificially low block size limit
    6. Has a coherent long-term scalability roadmap
    7. Just to throw a bitcoin maximalist argument right back at them, ETH has way better liquidity than XCP so there's less overhead in acquiring the token to pay fees (alongside other network effects like developer tools, user community, etc)
    8. We have DELEGATECALL implemented, they as I understand don't
  • VB does give Counterparty one benefit
    "That said, counterparty is more closely linked to the bitcoin blockchain, so it's easier to make crowdsales that accept bitcoin directly; that's the primary point in favor of a bitcoin blockchain-based metacoin. Though now btcrelay makes up for quite a bit of that difference."
What About Lisk?
It's basically trying to be Ethereum, but using javascript (rather than Ethereum's clients which make a hell of a lot more sense, such as Go, C++, Python, Rust, Java, Ruby, .net). A Javascript Ethereum is a terrible idea, and even if it wasn't, why devote a whole new blockchain to it. Seems pointless, leading to some to suggest this may be an elaborate scam. I doubt it's a scam, but it does seem poorly thought out.
Ethereum's Solidity is VERY close to Javascript, but MUCH better for smart contracts.
As noted by Itsaconspiracy and Nevermindthequestion :
  • The javascript is sandboxed but unrestricted. They have half a dozen rules you're supposed to follow in contracts, to avoid breaking consensus. Nothing's stopping you from putting a call to math.random() in your contract and then nobody gets the same results. Every contract runs in its own sidechain so at least you're not breaking global consensus, but contracts can call each other so it's not totally isolates easier for bugs to sneak in. For example, if someone passes the string "1" into a parameter where you're expectd either.
  • Javascript numbers are all floating-point, so you can get rounding errors in your contracts. (It's possible that they provide a bignum library, but I don't think so, their rules for contract writers don't say "please use our bignum library.")
  • Javascript has weak dynamic typing, so it'ing a number, and you haven't written explicit code to convert it to a number, then you can end up with the wrong answer. ("1" + 2) / 3 = 4 in Javascript. (Try it yourself online).
  • Not to mention that the LISK contracts will be stored in plaintext, which means they'll be vastly more expensive to publish.
OK, so Bitcoin focused smart contracts and LISK are bad ideas, but sometimes bad ideas win, after all, bla bla "network effect"
Ethereum already has its own network effect within the smart contract space. Bitcoin is far behind. There really is no mechanism to catch up. At this time, there appears to be just as much fresh money going into Ethereum development as Bitcoin, if not more (200+ project and counting) and over a billion dollars in investments estimated this year by Vinay Gupta. Bitcoin is certainly used as a currency in more places, but its use as a currency is still pretty much a joke. An Ethereum credit card would make this "currency network effect" absolutely pointless. What people don't seem to get it that Bitcoin's market cap is larger as an artifact of it being around longer, but soon, that will change. The amount of new investment in Ethereum, the number of devs deeply involved in Ethereum projects, has already made Bitcoin's history irrelevant. It seems very obvious to me. In my opinion, it really is over already. Ethereum has already won its place as the primary public blockchain. It's just a matter of time before people realize it. And some very clever investors, already have.
submitted by nbr1bonehead to ethtrader [link] [comments]

Log of AMA with - @Kai Bennink , @Sebastiaan Lichter, @Pascal, (Pascal van Stehen) and @Zowie Langdon

Disclaimer: ARK is regularly hosting Ask-me-Anything's of upcoming and promising cryptocurrency projects. Other than being the host, there is no relation between ARK and the featured cryptocurrency in this AMA. Keep in mind that ARK has no competitors - only future partners.
dr10 Let us all welcome the team from @Kai Bennink (Founder of Blockport), @Sebastiaan Lichter (Founder of Blockport) @Pascal (Marketing at Blockport) (Pascal van Stehen) and @Zowie Langdon (Chief technology of Blockport) (Zowie Langdon). You can all start asking them questions. I'd ask team from Blockport to use @ username to the one they are responding to and I'd like to ask all the community to give them some time to catch up if too many questions in backlog, before asking more so questions don't get lost. Thank you! (edited)
Sebastiaan Lichter (Founder of Blockport) Hi everyone!
JayCrypto What is blockport
dr10 Welcome!
*lars * Welcome !
Pascal (Marketing at Blockport) Hey everyone!
Sebastiaan Lichter (Founder of Blockport) @JayCrypto Blockport is a hybrid-decentralized exchange with a strong focus on user-friendliness, social trading features and building a knowledge sharing community.
tranzer How is blockport different than other exchanges? Are you gonna offer fiat pairs?
Crasha What do you need a token for?
Kai Bennink (Founder of Blockport) Hey Crasha, good question, we use the Blockport token to create a micro-economy inside the Blockport exchange to incentivise experienced traders for sharing their knowledge and trading activities. In order to "govern" this micro-economy we therefore create our own token :slightly_smiling_face:
Kai Bennink (Founder of Blockport) Hey all
munich (Ark.Land Delegate) Welcome!
Sebastiaan Lichter (Founder of Blockport) @tranzer Blockport focuses on user-friendliness and simplicity. This means that anyone, beginner or advanced, can use the Blockport exchange without having any prior knowledge or experience with professional trading. Unlike other exchanges, Blockport is not just about trading. As a social platform, we implement social trading and knowledge sharing features in the core of our exchange. Additionally, we offer our members the best of both worlds by combining centralized trading with decentralized storing of crypto assets. For more technical information about the Blockport functional design, please read our white paper.
munich (Ark.Land Delegate) Will there be any fees for using Blockport?
Sebastiaan Lichter (Founder of Blockport) @munich (Ark.Land Delegate) yes, we handle fees. Since we're also connected with other exchanges we have to cover their fees as well. We work towards a decentralized way of trading so that fees become minimum.
pieface Hello and welcome
Blazeron how does the token have value?
*munich (Ark.Land Delegate) * Has the whitepaper been released? (edited)
Zowie Langdon (Chief technology of Blockport) @munich (Ark.Land Delegate) The whitepaper is indeed released and available here: :slightly_smiling_face:
Spiros (Chief Design at Blockport) Hey everyone
ovsh @Sebastiaan Lichter (Founder of Blockport) As your previous background is comprised of an MBA internship and a 4 month startup that has no current available website right now (, what makes you confident you have the ability to deliver such a huge platform?
Sebastiaan Lichter (Founder of Blockport) It's not just about me. We are a team with different capabilities. I have a strong network and social skills and built a great team around me. Having said that, I have also been a project manager at the biggest insurance platform in the netherlands where I was leading a team on conversational AI / chatbot technology.
Sebastiaan Lichter (Founder of Blockport) Great question by the way:)
ovsh ^ pointy question, but this is an AMA
pieface Could you please define social features? Is it a platform which will allow you to add other traders as friends or "follow" them etc? Also, what's the method of connecting with other people you don't directly know?
pieface For example, i'm a lonely trader on your platform and want to socialise, how does that happen?
strengthbst2 Yes I don't understand how the social features would be useful.
*munich (Ark.Land Delegate) * Will your token be used as a way to get fee discounts? Like Binance and KuCoin
Sebastiaan Lichter (Founder of Blockport) @munich (Ark.Land Delegate) Yes, one of the utilities of the token, is to pay for discounted trading fees like Binance. The other utility is to pay for social trading features.
Kai Bennink (Founder of Blockport) @Crasha "Why do you need a token" Hey Crasha, good question, we use the Blockport token to create a micro-economy inside the Blockport exchange to incentivise experienced traders for sharing their knowledge and trading activities. In order to "govern" this micro-economy we need a token that we can control.
ovsh ^ @Kai Bennink (Founder of Blockport) Can you expand on the 'incentivise an experience trader' part? Assuming I'm an experienced trader, how would that work? And as most tokens are held right now as a form of investment, what prevents the token from being grubbled up to expect a price hike?
cam When's release goal?
Crasha So what will be the experience for these difference permutations of users? Experienced trader with many tokens Experienced trader with few tokens New trader with many tokens New trader with few tokens
Pascal (Marketing at Blockport) Hi @pieface, Blockport offers our members a professional platform where they can demonstrate their skills, and explain their strategies to the community. Social trading features consist of you being able to follow other traders and paying experienced traders to have a peek into their portfolio.
For more information on these features, check our recent post on Medium: (edited)
Zowie Langdon (Chief technology of Blockport) @cam Hi! You can find our roadmap on our website here: :slightly_smiling_face: Blockport The first social crypto exchange We are building a user-friendly crypto exchange that combines social trading with a hybrid-decentralized architecture to help people safely trade crypto assets. We bridge the gap between the crypto economy and the traditional world of finance to shift towards a digital and decentralized society.
Spiros (Chief Design at Blockport) :+1:
cam How is one considered experienced? Word of mouth? Paid via blockport tokens or preferred form of payment?
pieface thanks @Pascal (Marketing at Blockport)
Kai Bennink (Founder of Blockport) @ovsh Beginner traders can pay experienced traders Blockport tokens (BPT) to follow or copy their trading activities. In return, experienced traders can earn BPT to share their portfolio, knowledge and insights with beginners. This opens up a new stream of revenue for experienced traders, next to earning returns on trading. When it comes to people holding the token as an investment, we cannot prohibit this.
tranzer You also going to offer margin trading?
Sebastiaan Lichter (Founder of Blockport) @Crasha I don't know if I correctly understand your question. But experienced traders who perform well, will probably gain more of a following so that they will earn more BPT as a reward. Members who don't have a lot of BPT can earn them by gaining followers or sharing information or buy them in the Token Shop within the Blockport exchange.
KidCDN I like that idea personally!
Sebastiaan Lichter (Founder of Blockport) @tranzer That's not on our current roadmap, but we will not exclude it from future plans.
Kai Bennink (Founder of Blockport) @cam For every member we will track their performance based on certain indicators, such as: ROI in the past 6 months, amount of followers, etc. We have not defined these KPI's yet but it is definitely something we will develop in Q2/Q3 of 2018.
ceibaweb will I be able to buy Ark with fiat on Blockport
Sebastiaan Lichter (Founder of Blockport) @ceibaweb We are open to discuss the possibilities :slightly_smiling_face:
Kai Bennink (Founder of Blockport) @KidCDN Thanks! Could you explain why? :slightly_smiling_face:
tranzer Are you all from Netherlands? Have your own office or working from your homes ?
lars They are all working in my basement :trollark:
Sebastiaan Lichter (Founder of Blockport) @tranzer Yes, we're all from the Netherlands. Our HQ is located in TQ, which is a curated tech hub backed by Google and KPMG in Amsterdam, the Netherlands.
arno @Sebastiaan Lichter (Founder of Blockport) will you accept USD deposits?
Kai Bennink (Founder of Blockport) @lars hahaha
KidCDN @Kai Bennink (Founder of Blockport) As someone who is pretty darn new in the world of cryptocurrency and looking to actually progress, having more successful traders' tips and portfolio to use as reference (not necessarily a copy as you want to make your own decisions so you don't blame anyone for potential losses) would be very appealing. I also know that some people would rather keep their successful methods to themselves, so having some form of compensation for sharing with others could be very appealing.
It also makes you want to study up, build a following and communicate with the community more frequently, because gaining followers is just generally beneficial and gaining tokens for doing so seems like a great added reward.
JayCrypto Can you share your teams tech experience
tranze How much you aim to raise? Must say kind of like this idea of hybrid exchange.
Sebastiaan Lichter (Founder of Blockport) @arno because we're located in the Netherlands we will start with accepting EUR, this is also due to our partnership with CardGate (payment provider). However, we will move forward to accepting creditcards and other currencies. Regulatory wise this is a challenge.
Sebastiaan Lichter (Founder of Blockport) @tranzer Great :slightly_smiling_face: the hardcap for the pre-sale is €1M and for the crowdsale it is €9M.
munich (Ark.Land Delegate) So you will accept credit cards right away? How do you plan to deal with possible chargebacks and fraud?
Sebastiaan Lichter (Founder of Blockport) @munich (Ark.Land Delegate) No we will not accept them right away. We will be moving forward as fast as possible to accept creditcards, exactly because of the chargebacks.
munich (Ark.Land Delegate) Ok, what about IDEA, SEPA transfers?
Sebastiaan Lichter (Founder of Blockport) @munich (Ark.Land Delegate) Yes, those we will accept :wink:
ovsh what is this 'referral code' on the pre-token sale form?
ovsh & is there a reason the design & UX language on blockport is very very similar to that of Coinbase?
Sebastiaan Lichter (Founder of Blockport) @ovsh We issue referral codes to community members who like to be ambassadors and wish to spread the news with their network. They will get a reward for referring people. If this interests you, you can join our community here and request one: Telegram Blockport Community You can view and join @blockport right away.
ovsh Sounds cool! As a dev, how do I pitch in if I'm interested?
Sebastiaan Lichter (Founder of Blockport) @KidCDN Great to hear:)
Azek It doesn't seem exactly fair or open to have a private pre-sale and then a public pre sale. What is the reasoning for this, and why not just have a public token sale, in the spirit of being open and transparent.
Sebastiaan Lichter (Founder of Blockport) @ovsh You need to talk with our CTO :slightly_smiling_face: @Zowie Langdon (Chief technology of Blockport)
Kai Bennink (Founder of Blockport) @KidCDN Wauw, thanks for the elaborate feedback :slightly_smiling_face:
Zowie Langdon (Chief technology of Blockport) @JayCrypto Our technical team consists of people with a diverse set of expertise! I myself function as a lead engineer at my own company that specializes in web application development, and and I mainly work as an architect and Python developer and love to tinker in/around security related subjects and infrastructure management.
We also have an engineer, Laurens Profittlich in our team that is lead developer for a company that specializes in fraud detection, working for some of the largest banks in the Netherlands (including Rabobank).
Then there is Jan Bolhuis, Ethereum developer, experienced Audit & Security specialist and has worked for the Dutch Navy as an IT specialist.
Also, Erik Terpstra, who is founding engineer of Blendle, API specialist and early Bitcoin investotrader is part of our team.
Additionally we have an experienced Blockchain dev that is still currently working for a large BTC Merchant payment provider, he wishes to stay anonymous for now.
And then there is Bas du Pré, currently lead developer at ABN Amro, who is joining us to build our MVP!
Azek Sounds like an awesome team :slightly_smiling_face:
Spiros (Chief Design at Blockport) @ovsh Good questions; We made careful decisions on which elements to include and exclude form our platform. In the end we wanted to focus on simplicity of use. We came to a set of functionalities that we all agreed should cover the basic functions for beginner traders to be able to enter. These choices also gave us the ability to build on these functionalities for future additions with regards to experienced traders using our platform.
Indeed some functionalities resemble other trading platform but we strongly believe Blockport has a strong (Ux) identity and you will experience this for yourself when the time comes to have a full look at our platform including the trading platform and social features. These are all unique in feature and design.
ovsh One thing I'm worried about is the timeline. Q2-Q3 in 2018 crypto-land is roughly 500 light years in real time. Assuming a more 'relaxed' (increased) financial cap, what's your flexibility in ramping up development time?
Azek I had the same concern as you do ovsh when I read the timeline
Sebastiaan Lichter (Founder of Blockport) @Azek Everyone can signup for the pre-sale but participants have to purchase the minimum amount of BPT. In that sense, the pre-sale is publicly accessible to everyone, however, the public crowdsale starting 1st of March is more accessible for "the crowd" because of the lower minimum participation of 0.1 ETH. We are also in contact with some bigger players who requested a private sale, but we have gotten more attention than we'd expected so now the private also looks more like a public sale.
Azek Ah okay. That makes more sense.
Azek Got my +1 now :wink:
Kai Bennink (Founder of Blockport) We just (1 hour ago) launched our new website, do you guys have any feedback?
Sebastiaan Lichter (Founder of Blockport) @Azek Great! :slightly_smiling_face:
Kai Bennink (Founder of Blockport)
Azek So the private one is one that you have to register for (and I think it costs 2.5 ETH) and the 'public' one is one that anyone can grab for only a min of .1 ETH
rootbark so your UI is designed for newbies to be user friendly but you have large private investors getting discounted undisclosed rates. Can you give us a breakdown of how many coins for the stages in your sale? (edited)
Zowie Langdon (Chief technology of Blockport) @ovsh @Azek Good question! And a valid concern. As a developer you can probably acknowledge that there is a certain maximum you reach in terms of development performance, especially when working on something that can be considered quite experimental (startup in crypto land). We are definitely aiming to increase our team capacity and thereby the speed with which we build Blockport, but we value stability of our platform and want to ensure proper delivery. Therefore we might be able to speed it up, but we don’t want make any promises that we might not be able to keep. As you know, big promises that may or may not be kept in the end are not scarce in crypto land :slightly_smiling_face:
Sebastiaan Lichter (Founder of Blockport) @Azek Exactly.
ovsh What's the status of the tech right now?
ovsh & more importantly, what's the "decentralized" component of the exchange itself?
Sebastiaan Lichter (Founder of Blockport) @rootbark We keep the amount for private investors relatively low (13% of the total tokensales amount). So that the private presale total token amount is 6.400.000 BPT and for the crowdsale it is 43.200.000 BPT. The biggest amount of all the BPT available is for the crowd. Also of all BPT ever being minted, 71,4% is going to the token sales.
dr10 OK, we are approaching the 60 minutes mark. Any last questions for Blockport team? Anything the team would like to add or tell - feel free to do.
rootbark im sorry if this was asked but where are you based?
mward @Sebastiaan Lichter (Founder of Blockport) so for the pre-sale we need to apply on the website and wait for mail
Spiros (Chief Design at Blockport) @rootbark Amsterdam - Netherlands
Sebastiaan Lichter (Founder of Blockport) @rootbark Sebastiaan Lichter @tranzer Yes, we're all from the Netherlands. Our HQ is located in TQ, which is a curated tech hub backed by Google and KPMG in Amsterdam, the Netherlands. Posted in #trading_altcoinsToday at 7:22 PM
ovsh what's the "decentralized" component of the exchange itself?
mike any chance the platform will let you follow multiple traders, assign a weight to their porfolios, and combine them into a single displayed portfolio. also, have you heard of Marketocracy, ran a similar type of service without crypto a few years back?
Zowie Langdon (Chief technology of Blockport) @ovsh We have been experimenting with the necessary components needed for our MVP in Q1. Basically, our infrastructure is more or less defined and we have been able to hook up some components to assess feasibility of our roadmap. Now, we are focusing on getting our MVP in the air before January 2018 excluding the actual trading of crypto on the platform.
As for the decentralized part of the exchange we are currently looking into using an open-protocol such as Kyber Network, Polkadot or Loopring (0x is also a good option but they only offer ERC20 based tokens). We know that the decentralized protocols are hot, but can lack the needed performance. Therefore, we have not specified exactly what protocol we will work with for now, to allow for flexibility we might need.
Sebastiaan Lichter (Founder of Blockport) @mward That's correct, you will get a mail when the whitelisting process is live.
mward any eta?
Sebastiaan Lichter (Founder of Blockport) @mward In 2 weeks time
mward thanks
hemlck Sorry if this has been asked already, you say on your site that the user owns the private key to the Wallet. Does this mean it goes straight to your own wallet (the users wallet) or is it still held by you guys?
Sebastiaan Lichter (Founder of Blockport) @mike Yes we allow you to follow multiple traders and decide how much of your funds you wish to allocate to each of them. I haven't heard of Marketocracy, could you share a link?
Sebastiaan Lichter (Founder of Blockport) @mike thanks!
mike Marketocracy let you paper trade a portfolio, had contests for best performers, and used the best to run their own fund.
Sebastiaan Lichter (Founder of Blockport) Thank you everyone for participating and asking us challenging and good questions:) If you're excited please feel free to join our telegram community: and keep updated about our progress!
dr10 You might want to share your social media channels and more details on the crowdsale. :slightly_smiling_face:
dr10 Ah yeah :smile:
mike you could also choose to follow other traders. It was written on Ruby on Rails, know one of the devs who used to work there.
munich (Ark.Land Delegate) +1 for using Ark
Sebastiaan Lichter (Founder of Blockport) The presale starts the 3rd of January! and our Crowdsale starts the 1st of March: )
Jan Bolhuis @ArkEcosystem; thank you for this 60 minute opportunity!
Sebastiaan Lichter (Founder of Blockport) @mike looks promising :slightly_smiling_face: thank you
Kai Bennink (Founder of Blockport) Thanks @dr10 and thanks everyone for you questions and feedback!:clapping:
dr10 Thank you Kai, Sebastiaan, Zowie, Spiros and Pascal for taking the time to do this AMA! All the best with the project and you are always welcome to hang around our Slack.
lars Thanks guys for your time!
Sebastiaan Lichter (Founder of Blockport) @dr10 Thank you dr10 for the support we really appreciate it:)
JohnnyD Sorry if it has been answered, but is there a reason why the presale is limited to 2 eth?
tranzer Good luck with project you guys look serious and interesting will keep an eye out
JohnnyD Or whatever the lmit was?
Sebastiaan Lichter (Founder of Blockport) @lars thank you !
lars And you guys can hang out ofcourse
Sebastiaan Lichter (Founder of Blockport) @JohnnyD it is not limited, it is a minimum. (2.5 ETH).
JohnnyD oh, right. Why there's a lower limit I meant. sorry
Sebastiaan Lichter (Founder of Blockport) @tranzer thank you for your support and great questions
mike thanks for presenting a very good project for crypto, look forward to it coming out.
Sebastiaan Lichter (Founder of Blockport) @JohnnyD its due to an other audience we're targeting than the crowdsale.
Zowie Langdon (Chief technology of Blockport) Thanks everyone for the questions, feedback and support! :smile:
JohnnyD um, ok
mike Ark ACES may be useful to you as it adds coins, and ArkVM and AIP11, the Ark Virtual Machine and upgraded tx protocol to support solidity contracts on ArkVM.
Pascal (Marketing at Blockport) Thanks for the interest everyone, see you on the moon :slightly_smiling_face:
submitted by Dr10tv to ArkEcosystem [link] [comments]

LakeBTC to Add EUR, GBP Trading – CEO Thomas Xie Interview by AllcoinsNews

allcoinsnews: My first question is about the history of LakeBTC. Who are the founders? You are in the Coinbase Big 4 index. What sort of volume do you do now in bitcoin (BTC)? How did you grow from the start? Have you raised venture capital?

Thomas Xie: LakeBTC was started in March 2013 as an exchange initially for a small group of traders and other financial professionals from investment banking and commercial banking sectors. These early users and investors helped shaped LakeBTC with their years of experience trading bonds, currencies, commodities, and all types of derivatives and structured products in financial markets.They know capital markets inside out, and they trade Bitcoins as a hobby, just like playing Texas hold’em. Later that year, we decided to incorporate and run the exchange under the current domain name. Naturally, our investors and many of the people we recruit have extensive financial experience, and this is one of the important differences than other players in the field. We are one of the big four bitcoin exchanges that determine CoinDesk BPI and a Gateway member of IRBA. We are also included in TeraExchange’s bitcoin index, which is the base of their US CFTC approved bitcoin swap, and our data is included in a number of leading bitcoin websites.
We are dedicated to building a fair Bitcoin platform with top security, excellent liquidity, and extraordinary customer service. As crypto currencies gained more and more exposures to the general public, LakeBTC is becoming a leading Bitcoin platform around the globe. Our years of risk management and internal control experience in financial industries build the most solid foundation for ensuring customers’ fund and privacy being safe and secure.
Additionally, creating a fair and efficient marketplace is also important to protect investors’ interests. We do everything in our power to minimize market manipulations and unfairness. Market surveillance programs, carefully designed products, comprehensive risk management, and strict internal controls are all meant to ensure this young and energetic market be fair and safe to every participant. At LakeBTC, users are best protected from financial predators, bitcoin theft, online fraud, market manipulators, trader errors, bot bugs, and flash crashes. We provide the same level of service to all users at all times. All users are treated with the same policy published on our website.
Trading volume really depends on the market conditions. It varies from a couple of thousand to over 10 thousand.
We have initial investors, but we have not raised any external funds yet. Some potential investors got in touch with us, and it’s ongoing.

allcoinsnews: You exchange offers USD / BTC trading now. I know that you will offer EUR / BTC trading very soon. When will this happen? What other services or currencies will you support in the near future?

Thomas Xie: To better serve our customers’ needs, we are constantly looking for banking and payment processing partners around the world. We added Ripple network and EgoPay, and we became a Gateway Member of International Ripple Business Association.
To better serve our European customers, we are finalizing partnership details with our payment processing partner in Europe, and plan to launch the service later this year. EUR and GBP will be included in the first phase, and multiple payment methods including SEPA will be added. It’d be much easier for Europeans to make deposits and withdrawals to/from LakeBTC at a much lower cost. With LakeBTC’s outstanding security, great liquidity, and superb customer service, we expect to see a sizable BTC/EUR trading activities.
We are also working with partners in North America, Africa, Southeast Asia, and South America to introduce more local payment methods and streamline the deposit/withdrawal processes.

allcoinsnews: How has the volatility of BTC affected your business planning?

Thomas Xie: Volatility definitely has an effect on market sentiment. Bitcoin is just a few years old, and this volatility is not surprising. As a matter of fact, when you look at the historical prices, what we see today is much smaller. On the bright side though, the volatility and the speculation help bitcoin stay on headline news and get more coverage from the media.
To any exchange, an effective market surveillance program is a critical component that ensures the fairness and smoothness of the marketplace. Unusual activities, abnormal positions, sudden price changes, and suspicious trades should raise alarms to exchange operators and if necessary, preventative actions should be taken quickly to mitigate the risk of price manipulations and human errors.
LakeBTC have a real time market surveillance program to monitor unusual trading activities and suspicious positions. By comparing with bitcoin index prices from other sources, we try to reduce the risk of market manipulations by individual attackers. This is especially important for a volatile market such as bitcoin. We shifted an enormous amount of effort into this, including market surveillance, limited orderbook, dark pool, product design, staff training and so on.
Other than that, we do plan to launch bitcoin derivatives such as futures to help miners, exchangers, merchants, and institutional investors to better manage their risks and exposures.

allcoinsnews: Your exchange is in English, Swedish, and Chinese. What is your analysis of what countries your users are from?

Thomas Xie: We have users from all around the world, with a better concentration from Americas, Europe and southeast Asia.
As mentioned earlier, we are adding banking and payment processors all around the world. Besides, we are currently working on adding more languages as well to bring better experiences to non English speaking users.
We offer a comprehensive and secure REST and Websocket API, with sample codes in PHP, Ruby, Python, and a few other programming languages. Professional algorithm traders would find it extremely easy to integrate their trading bots to LakeBTC. Our website design is responsive, and works equally well on mobile devices so casual users may buy and sell bitcoins on their cell phones smoothly.
We just made a major change to our fee structures, with maker-taker introduced and a big promotion is going on right now. Users may enjoy a 0.05% or even free trading at LakeBTC. All of these strategies will further grow our user base globally.

allcoinsnews: There have been some significant exchanges that have collapsed with hacking being an important factor (e.g. Mt Gox, Bitcoin Trader recently). How are you protecting your customers funds from this type of risk? In terms of wallets, what do you think is best solution for your customers?

Thomas Xie: The founder of Mt.Gox came from a technical background, but running a financial firm requires many years of risk management and internal control experience. That’s not something you can acquire overnight.
The safety of the wallet is indeed a huge challenge. Average users may choose and trust a professional bitcoin company such as LakeBTC, especially if it’s a lot of money. They should pick one who’s secure, legitimate, compliant, and well managed. Professional users who know what they are doing can manage their own wallets.
Security, liquidity and service are three strengths we have and security is number one. SSL encryption, cold storage, Google Authenticator, SMS confirmations, etc. are several technical measures we currently employ. But people have to realize that a Bitcoin exchange is not only a technology company, but more importantly, also a financial one.
If Facebook went under, it’s bad but people can live with it. Same thing for Amazon, Youtube, Uber and so on. But if your bank failed and all your savings vaporized? That’s horrifying.. A financial firm faces many security challenges that are unheard of typical technology companies. The technological security mechanisms mentioned above are certainly important, but what really matters to financial institutions are risk management and internal controls. Our team with years of experience in financial industries is working hard to ensure customers’ fund and privacy being safe and secure. For example, all withdrawals need to pass an automatic system checks for book balances, login history, trading patterns and so on, then passed to a two level manual approval process. If everything is good, the fund is transferred to the customer. We do everything in our power to minimize the risks of human errors, system bugs, and hacking activities. Incidents such as transaction malleability would not happen at LakeBTC.

allcoinsnews: Many governments have concerns (e.g. China, USA, etc..) about crypto currencies. How will the Chinese cryptocurrency develop going forward?

Thomas Xie: First of all, we are a BVI company, with customer service and technical support in Shanghai. LakeBTC is a bitcoin exchange for the world. We pay attention to the government policies around the world and do our best to stay compliant. We believe this is to the best interest of all our users.
Chinese government clearly stated that bitcoin is not a currency and would not regulate it as a currency. Secondly, the policy is in fact quite easy on bitcoin participants. The latest official policy declared that people have the right to own, buy, and sell bitcoin. The major goal of the existing policies is to manage risk and stop market manipulation. Margin and shorting trading, futures, and many other high-leverage products (20 times or even higher) and price manipulation caused flash crashes early this year and that’s the target of the so-called ban. If the situation does not improve, we are not surprised to see the policy tightens further and the entire bitcoin ecosystem is jeopardized.
US is more complicated. Both federal and state regulators are involved. The most recent NY DFS proposal is not considered a positive sign. We are living in the new millennium now and they government agencies need to adapt to the digital age too. It’s impractical and cumbersome for every state plus Fed to come up with a regulation each separately. Bitcoin is an internet thing and there’s no state borderline on the internet after all.
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