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Viewing 15 posts - 1 through 15 (of 18 total)
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  • in reply to: What is NEM? #27895
    Coins
    Keymaster

    It was the exchange Coincheck that was hacked and not NEM, the hackers just stole the NEM from the hacked exchange. Thats why its always advised to hold your coins offline, yourself 🙂

    in reply to: What is Storj? #27797
    Coins
    Keymaster

    Yes, I always try to opt for Open Source, as the code is open for the entire world to view, audit and build upon. Where as closed source projects are only open to the private development team working on the project.

    Usually a project is more stable if you have the code open for 100,000 people checking the code for errors, vs just 10 🙂

    in reply to: What is Ethereum Classic? #27483
    Coins
    Keymaster

    Most developers have left ETC in favor of ETH. I didn’t agree with the ETH split in the beginning, but ETH has grown it has proved to be the ‘real’ (by vote of popularity) Ethereum blockchain. So I would not say ETC is more secure. Once ETH moves to PoS, they will be even further apart, as much different coins.

    in reply to: What is Factom? #27286
    Coins
    Keymaster

    Nope, thats what the blockchain is all about, “The Immutable Ledger”. Can be for both good and bad.

    The Immutable Ledger of Transparency in Healthcare Technology is a great article on blockchain tech in the healthcare industry.

    in reply to: What is Litecoin? #27268
    Coins
    Keymaster

    Correct, price does not solely reflect demand. Coin A can have a much higher supply (number of coins available) then coin B. Coin B (lower supply) can have a much higher cost per coin then coin A, but coin A’s market cap (total amount invested) can still be much lower.

    Visiting https://coinmarketcap.com is a great way to see this visually.

    in reply to: What is Bitcoin #27267
    Coins
    Keymaster

    The central bank can “monitor” the price all they want. But they can’t do anything about it. The entire point of Bitcoin is to get away from the same banking system that does market manipulation.

    The same banking system that was involved in writing millions of subprime loans and caused the housing market crash in the US. (The United States’ subprime mortgage crisis in 2007–2008?)

    The same banking system that used depositor (savings) funds for bank bail-ins in Cyprus (2013), and now common in the ToS for most banks around the world.

    The same ones that gamble with your money, and if they lose, the government will bail them out with yet more of your money. (To big to fail?)

    Here is a really good article on why Bitcoin was created: https://medium.com/founder-playbook/a-quick-reminder-why-bitcoin-was-invented-in-the-first-place-f9ae7430bc17

    in reply to: Wallets #27266
    Coins
    Keymaster

    It really depends on what coins you want to store, but I really like the look and feel of Exodus, and it works with several top coins.

    in reply to: What is Salt? #27256
    Coins
    Keymaster

    Yes, they allow you to take out a loan on your cyrpto holdings, using them as collateral. If I recall correctly, when you repay the loan, you get your full amount of crypto back no matter the current market rate, unlike if you where to just sell them.

    in reply to: What is Zcash? #27255
    Coins
    Keymaster

    haha, you are welcome!

    in reply to: Wallets #27248
    Coins
    Keymaster

    It depends on what coins you have. Usually if you go to the coins main website, they will have a supported wallet. If you want a simple wallet, that can hold multiple coins, visit https://www.exodus.io/

    The Exodus wallet supports most of the popular coins, and is very easy to use. It also offers good backup security so you don’t have to worry about coin loss.

    Watch this video: https://vimeo.com/172347797
    It will show/explain just how the wallet works, in a very easy to understand way.

    in reply to: What is Zcash? #27231
    Coins
    Keymaster

    lol a little.

    With bitcoin, everything is public on the blockchain. Anyone can view your transactions. The thing that makes it private is, no name is associated with the account, so no one will know who you are, unless you tell them.

    Zcash works the same, but gives the option to hide your transaction log. There is a benefit to both really. When you pay someone publicly, you have the proof to show the entire world.

    Public payments work well if your sending money to say, Amazon and want to make sure there are no disputes. But you may want to send money to your mother, who is currently hiding from a drug dealer, even though she swears shes been clean for over a year… But tells you she needs money for food… and your husband wants you to cut her off… and the local gangs has been asking questions about your mothers whereabouts. In this case, you may want to send it privately.

    in reply to: What is Zcash? #27176
    Coins
    Keymaster

    Yes, but from what I understand, privacy with Zcash is optional. So while Zcash has a privacy feature, many people fail to use it. This is why some argue that Monero (XMR) is a much better privacy coin, as it is private by default (and can only be used privately).

    in reply to: What is Ethereum? #27174
    Coins
    Keymaster

    $100 ETH is pretty good… Its well over $600 now ($675), with an all time high of $1,400

    They say a 12% return per year is good for the stock market… That makes me laugh now lol

    in reply to: A button for new posts #27092
    Coins
    Keymaster

    What do you mean a button for new posts?

    in reply to: I am not able to create topics #27091
    Coins
    Keymaster

    Yeah I fixed it for him!

Viewing 15 posts - 1 through 15 (of 18 total)