Bits.ca – Bitcoin and Crypto Currency News and Resources

  • What was this sub like pre-2017?
    by /u/Pomask on December 17, 2018 at 3:44 am

    Was every other thread about when the next bull run would be? Were people talking about the tech? Was it philosophical in regards to the ideals of crypto? What was the excitement centered around? Has it always been at least a little bit about the money? Was it extremely different or was it kinda the same? How did the memes compare? Same amount of shit coin shilling? I didn't jump in until December 2017 and needless to say it's mostly been about price. Just curious what this space was like before 2017. Did people constantly talk about when it would go back up after 2014? What were those "dead" years like in between? I'm intrigued ​ submitted by /u/Pomask [link] [comments […]

  • FLO, tZERO, and how the DLR aims to disrupt.
    by /u/Reviken on December 17, 2018 at 3:31 am

    submitted by /u/Reviken [link] [comments […]

  • Venezuela Forcibly Converts Pensions into Petro
    by /u/BitcoinMafia on December 17, 2018 at 3:18 am

    submitted by /u/BitcoinMafia [link] [comments […]

  • In-app crypto transfers subject to app store 30% fee?
    by /u/ImHiiiiiiiiit on December 17, 2018 at 2:10 am

    If you offer in-app cryptocurrency transfers between mobile app users, does the Apple app store or Google play store take their 30% cut? If not, what coins offer the easiest turn-key solutions to integrate cryptocurrency transfers into existing mobile apps? submitted by /u/ImHiiiiiiiiit [link] [comments […]

  • A while ago I had a post on front page telling everyone about the decentralized stable coin named DAI, where I explained how it works and why you should pick it over Tether. For this reason, I feel obligated to tell you all why you should sell it today.
    by /u/OsrsNeedsF2P on December 17, 2018 at 1:38 am

    Update: /u/Zarigis points out that as long as an exchange does not directly accept shielded DAI, it's not abuseable. Pretty much never go for an Aztec protocol second layer settlement of DAI. Post in reference, explaining DAI: https://www.reddit.com/r/CryptoCurrency/comments/9oinjp/since_everyone_is_having_a_meltdown_about_tether/ Okay so quick TL;DR of DAI: Decentralized peg to USD through some niche game theory Runs on the Ethereum blockchain Now also has ZK-SNARKs for anonymity transactions. Now, if you look at my flair, I would be the last person to tell you to avoid privacy additions.. However, this one is a little different. The ZK-SNARKs addition to DAI is quite possibly the biggest backstab to trust we have ever witnessed, and completely kills the decentralization aspect. If you've ever read the original ZK-SNARKs paper, or even Vitalik's article on the subject, you'll know they come with a trusted setup component; now ignoring the theories behind how this makes it potentially traceable, I'm going to address the hidden creation component of it first. As a Stablecoin, and particularly as a decentralized one, it should be incredibly important to recognize the number of DAI in existence so we can adjust for it. At first, the smart contract DAI runs on would do that easily; but whoever is responsible for setting up the parameters of the ZK-SNARK setup can undetectably create an infinite amount of DAI. There's a reason we don't see currencies like Zcash, Zclassic and Bitcoin Private at rank 1, 2 and 3 marketcap; their privacy and auditability fundamentally backdoored. (Note; Zcash has addressed this problem with something called Sapling.) Imagine having the power to create DAI out of thin air -- this is not something that you could just trust anyone not to abuse. I was shocked and disgusted when they announced this, but now that a few weeks have gone by I'm even more appalled I cannot find any good posts on the subject. I would recommend you sell and avoid DAI, and unfortunately I have not searched indepth enough myself to suggest an alternative, but for now it's just another hot potato. Stay safe folks. . Tl;dr: DAI can now be created by the founders in an undetectable way. submitted by /u/OsrsNeedsF2P [link] [comments […]

  • Morgan Creek issued a $1 million challenge to any professional money manager who thought stocks would outperform crypto over the next decade. No one took us up on the offer. Don’t listen to the naysayers. They don’t even believe what they say. Always follow the money 👊🏽
    by /u/Kashpantz on December 17, 2018 at 12:52 am

    submitted by /u/Kashpantz [link] [comments […]

  • Mapping Cryptocurrency Prices with Google Trends – Medium
    by /u/teddykgb4277 on December 17, 2018 at 12:46 am

    submitted by /u/teddykgb4277 [link] [comments […]

  • Is it time to switch to premined currencies?
    by /u/limopc on December 17, 2018 at 12:44 am

    Reading the posts on BTC in different subs, made me think, Is it time to switch to premined currencies? EDIT: I mean the non mineable cryptos. Currencies that are fast (seconds, or 2-3 minutes max), low cost transaction, scalable by design. Almost a year ago I posted /r/Bitcoin/comments/7uhugx/genius_btc_developers/ I don’t know if you can see it, but there were many others. BTC developers never listened, they are the reason why we are all in this situation (for some time).. Cryptos are here to stay, but I believe non mineable cryptos will survive, and do much better. Maybe it is time to switch. I’m not shilling anything. I am just writing my ideas. If shilling or fud was of any effect on the market we wouldn’t have seen this low prices, or end 2017 prices respectively. If shilling caused 2017 prices why isn’t it working now! I’m just trying to contribute something for the whole community. Feel free to downvote (or upvote), but I think discussing would be more fruitful for everybody. Again, is it time to switch? submitted by /u/limopc [link] [comments […]

  • Happy Mooniversary!
    by /u/Frix13 on December 17, 2018 at 12:15 am

    On this date 1 year ago, the price of Bitcoin topped at around 20.000$ and 814 billion $ in market cap. Congratulations to everyone that is still here, great things lie ahead. Let's hope that next year Christmas talks about Bitcoin will be less awkward compared to what comes next week. submitted by /u/Frix13 [link] [comments […]

  • Tangram whitepaper released; the privacy oriented DAG.
    by /u/PresidentEstimator on December 16, 2018 at 11:14 pm

    submitted by /u/PresidentEstimator [link] [comments […]