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LastBoyScout

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    12ozProphet Roll Call - Who’s still missing but wish they weren’t?

    in Channel Zero

    Posted

     

    55 minutes ago, diggity said:

    I lost alot of my life to that game. Sold my account for like 500 bucks. Think that was after burning crusade. Picked it up again after  that for a few more expansions but haven’t played the last 2 or 3. Heard Metzen is back so I’m sure they’ll sort out a lot of the nonsense but I’m glad to finally be rid of it. holy shit what a time suck. 

    Histo still mad fun of me for Years for playing that game  “where all you did was as run back to grave yard” 

    12ozProphet Roll Call - Who’s still missing but wish they weren’t?

    in Channel Zero

    Posted

    10 hours ago, misteraven said:

     

    Feels like a lifetime ago when I was staying at an ex girlfriend's apartment on Forsyth park. Downloading music all day and countless hours on the forum, LOL. Think @diggity took that apartment over at some point. Damn, so crazy to think of those days and where we're all at now.

      
    yup @diggitydefinitely made me lots of deer steaks in that apartment and pretty sure we covered the ceiling in paint mixing colors.  Summer squash and hunter green mixed for a very nice thick pistachio. 

    • Like 5

    Cryptocurrency

    in Channel Zero

    Posted

    I use an iPhone app called crypto pro on my phone. I basically enter in my trades/buys/sells and it shows me what my portfolio looks like in real time without holding any keys/personal info on the phone. I use Exodus's "Eden" wallet, and whatever single use wallets are needed by other coins I hold like Monero, ect.

     

     

    So with Litecoin:

     

    When Litecoin first came out, it kind of made sense. BTC blocks took 10 minutes, Litecoins took 2.5 minutes. Charlie Lee also multiplied the supply by 4 times, and switched the hashing algorithm so the ASIC's used to mine bitcoin wouldn't work for Litecoin, all good. Cheap Chiness knockoff at best, back then fees were almost non-existant. No red flags, like a pre mine or unfair distribution, the coins were fairly distributed and no one held a superwhale majority, or enough coins to singlehandedly crash the market.

     

    Strike 1

     

    Flash forward to when Charlie Lee is working for coinbase as an engineer. He somehow got Coinbase to list LTC, keep in mind there was almost zero demand for it, while other more useful/reputable coins weren't listed. Charlie Lee tweeted something like "Hey Brian, why don't we add Litecoin to coinbase?", and Brian Armstrong (CEO of Coinbase) tweeted back something like "Sure @charlielee, why not". Pretending to make this decision on twitter was cute. There were credible rumors of insider trading (scooping up as much LTC as possible just before announcing LTC would be listed on Coinbase) then once the data was analysed, it pretty much proved there was, in fact, insider trading. Not a big deal, niggas gotta eat, but insider trading is a shady move when a cryptocurrency's point man is tainted by it.

     

    Strike 2

     

    That brings me to the "Litecoin is the Silver to Bitcoin's Gold" mantra. Sure, transactions are cheaper now, and take 25% less time to confirm, but there are other coins out there like Ethereum (15 second blocks) and Dash that make Litecoin look like a joke. So how much merchant adoption do you think Litecoin has achieved? Obviously they're not attempting alchemy here to be a "digital gold" store of value like Bitcoin right? Zero adoption, or efforts made to do so, not a single merchant was partnered with to create a use for Litecoin. Charlie Lee never intended to make good on the promises of digital silver. As it stands right now, the only use for Litecoin is moving crypto out of Coinbase, and onto Binance so you can trade for altcoins with an actual future (BTC fee's are to high). I personally prefer ETH for that.

     

    Strike 3

     

    Charle Lee is an outspoken Crypto Superstar, I follow his twitter and it's quite entertaining. He's positioned himself as a "Bitcoin Maximalist" Meaning he trash talks other coins by saying Bitcoin is king, blah blah, blah. Dude made a fucking altcoin himself though. Half the shade he's tried to throw at other coins is unsubstantiated bullshit he parrots from Bitcoin Maximalists. When the scaling debate heated up he positioned himself on the side of bitcoin core, offering to use Litecoin as a live testnet for Segregated Witness, and Lightning. If Segwit x Lightning lives up to the lofty claims by it's supporters, it would basically make Litecoin obsolete. Bitcoin transactions would be instant, fees would be almost non existent.

     

    So on the other side of the scaling debate are people who support the BCH hardfork (whom Charlie likes to mock). In my opinion they've solved the scaling debate, and have been catching up to BTC's market cap since forking. "Coincidentally", right before they're listed on Coinbase Dec. 20th, there are signs of insider trading again, someone is scooping up massive amounts of BCH. Also, at the EXACT same time, this motherfucker announces he's cashed out of all his Litecoin holdings. While it's at an all time high. Brazen as fuck. His excuse "I wanted to be able to argue on the internet without people thinking I'm shilling for Litecoin" Yea right.

     

    For me, a coin needs more than a catchphrase, it needs at least the potential for a use case.

     

     

    Really appreciate all detailed answers, just DL crypto pro and will set up exodus this weekend, I tried to get in a few times since 2012 but I would get overwhelmed in the process of trying to make it anonymous and just wouldn’t bother then Early fall saw someone with Coinbase and was oh that makes it easy, luckily I got in right before the big jumps. Who knew crypto would get me back on 12oz, good looks MisterR

    • Like 3

    Cryptocurrency

    in Channel Zero

    Posted

    Exodus, personal preference, basically they're extremely focused on UX. Anyone can use it and it's reliable.

     

     

    Restoring wallets:

     

    It's too complicated to oversimplify into a short answer, if you're down I'll explain it somewhat detailed.

     

    With almost any cryptocurrency wallet, when you install, or set it up from scratch you're prompted to either record a new mnemonic passphrase. or restore the wallet from an existing one. A Mnemonic passphrase (on Exodus) is a string of 12 random words, some wallets require more, or less. The letters and spaces between words are all broken down into their numeric values as they're run through a cryptographic algorithm to generate your public/private keys.

     

    For example, if you set up a 2 word Mnemonic passphrase "12 oz" 1 and 2 already have a numeric value, we'll give the space a value of zero, and assign "o" a value of 15, and "z" will be 26. Using this method this gives "12 oz" a numeric value of "1201526". Then you run some fancy crypto math on that number to generate a public/private key for whatever cryptocurrency the wallet is capable of generating. Exodus can make keys for any cryptocurrency wallet they offer using the same passphrase for each currency.

     

    If your computer crashes, you just set up a new one, download the wallet software, and restore it during the setup process using the 12 word passphrase. If your USB ledger, or trezor gets lost/fucked, you buy another one, and restore it using your passphrase. Most smart people will order 2 ledgers at a time, set one up, and have a backup ready to restore should they lose or damage the first.

     

    Don't get slick and try to use song lyrics, or even coherent sentences for a passphrase just because they're easier to memorize, hackers can, and do restore wallets using popular word strings. Try to stick to the random ones generated by the wallet.

     

     

    Going extra deep:

     

    Lets say you're paranoid and want zero chances someone can hack your private key. Wipe the hard drive on a computer and install a brand new OS. Install a new wallet, then disconnect from the internet before setting it up. Then set up the new wallet, and write down the passphrase. Don't print it (printers are more likely to get hacked than phones/computers believe it or not), don't say it out loud, (Siri, Google, and Alexa are listening) just write it down with a pen, and make sure to triple check. Now save your deposit address(s) aka public keys. Once you've got it all down wipe the computer again.

     

    Now you have your public addresses to use for deposits from exchanges, or to give out to other people who want to send you crypto. Don't worry about someone getting your public address, they can't hack your wallet with just the public key. Keep that paper someplace safe, try to memorize the words. If all hell breaks loose and you need to escape the country, or you end up doing a bid, you've got the 12 word passphrase memorized and your money is safe, and availiable the next time you get internet access.

     

     

     

     

     

     

     

     

    Wallets taking a cut?

     

    Exodus, and most other wallets like Jaxx that have Shapeshift built in don't take a cut when you exchange between cryptocurrencies. Shapeshift does, and they charge higher fees than most exchanges so it's expensive to use. Shapeshift then provides a small percentage of that fee to the wallet's makers as a commission. It encourages the wallets programmers/designers to include shapeshift. That's the business model for most wallets these days.

     

     

     

     

     

     

    Ripple?

     

    Before I say this let me preface by saying this is only my opinion, and I'm by far no insider, or privy to any private information.

     

    Ripple is a company that develops software systems for "Big Banks". It's confusing to call the token "Ripple" instead of "XRP" which would be like calling a steering wheel a "General Motors" The XRP token itself has no use in the 10 other products developed by the company Ripple. People assume big banks use/need the XRP token since they use the other Ripple products, but the other products Ripple makes don't have anything to do with the XRP token. Infact, Ripple initially stated the XRP token was basically an experiment, and it's only use case so far has been to fund & develop other software products for use by the very people cryptocurrencies are going to make obsolete (Banks).

     

    Going even deeper, the XRP token was 100% pre mined, meaning someone created all the tokens at once, and didn't have a fair method of distribution. Most of those tokens are still held & controlled by Ripple, and the software/system used to send/recieve the XRP token is centralized. Ripple is no more secure than opening a bank account. Should ripple decide to confiscate your tokens, they can. Also should they decide to dump a massive amount of the 60% or so of XRP they control, they'll make billions before leaving the rest of the holders holding their dicks.

     

    With the new wave of crypto investors coming in this fall/winter several scam coins that could afford it artificially "pumped" the price of their coins up enough for noobs to take notice of the upward momentum. Noobs will inevitably start buying the coin that's increasing, adding FOMO money to that upward momentum causing a spike in the price. Ripple did this with the XRP token, which again, has no use case whatsoever. Retailers aren't planning on accepting it, you basically can't use it for anything but speculation, banks don't use it, and they're not even promising to develop a use case for it in the future.

     

    In summary, fuck Fuck Ripple/XRP they are the enemy. Other popular coins I think are shady/bad long term investments; Tron, Verge, & Litecoin.

     

    The theory of lte as silver to BTC’s gold seems to be a solid ones for the it’s basically the same code with more coins and faster transaction. Are your resorvations mostly from Charlie Lee’s over all sketchy behavior?

     

     

    On the wallet side do you transfer all your coin to exodus right away or do leave some In apps line Coinbase, Does exodus allow you to look at the value of your portfolio at a glance?

    Cryptocurrency

    in Channel Zero

    Posted

    Yes, indeed but keeping in mind that every transaction is recorded, including those that are a fraction of a cent. It simply wont be cost effective to pursue and that assuming you can still track it back to an individual which I find unlikely. Plus you got altcoins like Monero that are specifically engineered for keeping transactions private and no doubt the first time anyone gets nailed in a public way, all the coins will simply adopt that feature or lose ground to the ones that do.

     

    If the transactions are private in monero how do you know the system isn’t being gamed, it’s the public ledger keeps the BT honest.

    Cryptocurrency

    in Channel Zero

    Posted

    Keep in mind that though every transaction is stored in the blockchain in the form of a hash... And that hash is created dynamically from the signature that in turn was verified by a private key that literally nobody but the owner knows... Even the addresses for private wallets are rotated with every transaction. So if 10 people send crypto to my jaxx wallet, its in fact recorded to the blockchain as distinct hashes that describe the transaction with no easy way to describe the sender or recipient since its just long fuckin alphanumeric strings with very little context. Plus I can always print out the key and literally hand that to someone.

     

    I can see them hacking communications and hard drives and watching spending patterns long before they'll ever be able to decipher the blockchain.

     

     

    There are some companies already specializing in and using AI for blockchain forensics and I’m sure would be happy to sell services to the feds. But they will going to go after the big fish not people making a few grand here and there

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