Securely erase a previously used address from bitcoin-core ...

A Market Liquidity Theory of the Current Financial Crisis

Huge update from the Fed this morning: https://www.federalreserve.gov/newsevents/pressreleases/monetary20200323b.htm
I'm not going to have a chance to look through this in detail this morning, but it looks like the Fed might be engaging in a massive loan program and taking just about anything as collateral.
This is going to be a long post and analysis that I have written as much to get my thoughts in order as much to post on here for any feedback or criticism.
Essentially, like many on here, I do not believe that the current situation is a temporary down-turn, but a full blown financial crisis. We have already been hit with the initial shock of this crisis, so the question becomes: what comes next? Helping us understand what is fundamentally happening in the market will aid in making intelligent future predictions and investments. That leads to the question: what exactly is happening in the market right now? What caused us to suddenly drive off a cliff? And is there any way we can save it? Unlikely many here, I do not believe that COVID-19 is the actual underlying crisis. In my opinion, our economy was basically the end stages of a Jenga game, and COVID-19 is just the swift breeze knocking the whole thing over.
As I started looking for the next big market move, I started to wonder who was going to feel the most pain in these markets. Some reading led me to the thought that what we were seeing in the markets was a liquidity issue, and that companies with poor credit ratings will be most affected. I posted about this a couple of days ago, and several others came to the same conclusion as me. 1 2 3. There are other obliviously other problems in the market at the moment, but this analysis will focus on this problem in particular.
I now strongly believe that this hypothesis was correct, even if my initial reasoning and analysis was flawed. I outline a theory, followed by some supporting evidence, and finally some speculation. Finally, I don't think the Fed understands the actual problem the market is facing right now, nor does it have the tools to deal with it.
There are three prerequisites here: repos, collateral transformation, and rehypothecated collateral
Variation-Separate has already written an excellent technical analysis, and explains repos in part I. I will assume you have already read that section. 2
The basic idea behind collateral transforms is this: Your company needs some short-term liquid cash. In order for someone to give you this cash, you need collateral. You only have risky assets (such as junk bonds), but no one will accept them as collateral precisely because they are risky. Everyone in the market wants a secure asset (such as a Treasury). Instead of giving up, you go out and find someone who will loan you their Treasury and accept your junk bonds as collateral. You then use that Treasury to obtain the cash you need. This process can be repeated among many parties in order to create a "collateral chain".
Finally, we have rehypothecated collateral: Someone comes to you and wants to borrow an assets for a short period of time (such as a stock). They give you another asset (such as cash) as collateral in exchange for the stock. You know the borrower won't be back to collect this collateral for a while, so you invest that collateral to make money off of it in the meantime.
As Variation-Separate explains, there have been problems in the repo market recently, and the Fed has acted as the believe appropriate. However, this is not the first time the Fed has run into this problem . In fact, we had a problem a problem in the repo market just in Sept 2019 and "Not only did the spike in the repo rate come as a surprise to the New York Fed, but they also haven't been able to normalize it as quickly as they thought they could". Finally, let's consider that even though the fed has offered to pump massive amounts of liquidity into the market, banks aren't taking it and are quickly repaying that which they do take.
What exactly is going on then? The Fed tries to pump liquidity into the economy, and nothing happens. The reason for this is that the Fed knows that it doesn't understand the underlying problem in the market, and knows that is powerless to stop it. The Fed is trying to unleash every tool in its toolbox on the hope that if it just throws enough money into the market, eventually the problem will go away.
So what is the root problem? Essentially, liquidity. More specifically, collateral transformations and rehypothecated collateral. In fact, this has been written about extensively: 4 5, with Snider in particular making a strong case that today's crisis fits the analysis of the collateral markets that he provided in 2018: 6
How are collateral transformations and rehypothecated collateral affecting liquidity in the markets? There are numerous ways, but let's start with 2:
Let's say someone gives you cash as collateral, and you rehypothecate it as described in the example. However, instead of putting the cash in a safe asset, knowing you have to repay it, you put it in a very risky, high-yield asset such as a junk bond or MBS. Things go wrong, you lose your money and can't pay back your end of the repo. This is exactly what AIG did during the 2008 crisis. 7
Now let's say you engage in a long chain of collateral transformations. You start with a really risk assets, trade that for a sligtly less risky asset, trade that for a moderately risky asset, etc, until you eventually get a pristine asset. Now anyone along that chain can rehypothecate their collateral into some risky investment, causing a huge number of problems. Not to mention that if you, for some reason, can't fulfill your end of the repo, you screw a whole chain of people who have traded with you.
Now, if we are in a strong market, these problems won't arise too often. But what happens if, say, a virus comes out of now where causing wide-spread economic disruptions? Now, maybe those risky investments that would have paid out more often than not aren't pay out at all, causing systemic problems.
Now let's add a couple of things that exacerbate this problem even further:
These chains get so complicated that no one even knows who owns which assets anymore 4
When these chains collateral transformations start to fail, people may become less willing to take the risk of engaging in them 5
All of this caused heavy regulation on the exchange of collateral by primary lenders after the 2008 crisis. This has pushed these transactions into dark markets where we don't really understand what is going on. Here is my hypothesis, heavily taken from Snider's analysis:
Corporations have become heavily reliant on short-term lending for liquidity. However, most of them don't have pristine assets to exchange for cash, or DisneyBucks to float them through hard times. So what to do? You engage in collateral transformations: keep exchanging your junk assets until you get the pristine assets you need to get liquid cash. A bunch of corporations do this over and over again, and eventually they really don't have a clear of idea of what assets they really own.
Further, in these collateral chains they are rehypothecating collateral to make a quick buck. All is well, until this virus comes along. Suddenly, corporations are losing their collateral in these risky investments. Further, they need cash. The first thing they do is try to transform their collateral for short term liquidity. However, a bunch of people have just lost their money playing this game and don't want to play anymore, so it becomes more difficult and expensive for the companies to engage in these collateral transformations. The assets they have are worth less, so they have to sell other assets to compensate. However, everyone is doing this at the same time, devaluing the assets. Devaluation of assets makes it even more expensive to engage in collateral exchanges, and the cycle continues. Finally, when these companies take account of their actual assets, after all of these complicated exchanges, they realize they don't actually own what they think they own, creating additional panic when they are already in crisis mode. This causes huge turmoil, and the markets fall off a cliff.
If this theory is correct, what will we see next? Whether the markets will go up or down is dependent on too many factors to predict. However, I do have some speculation. First let's categorize corporations as follows:
Type I: Safe
Large banking institutions
Large P-1/A-1/F1+ Companies
Companies with huge cash reserves
Type II: Possibly Safe
Small businesses
"Essential" business (i.e., Boeing)
Type III: Doomed
Business with >500 employees, no large cash reserves, not P-1/A-1/F1+
The self-employed
Type I businesses will certainly weather the storm. If they don't have the direct support of the Fed, they have large cash reserves on hand. If they don't have large cash reserves on hand, they have the credit rating to make use of corporate paper. They can find the short term funding needed to make it through this.
Type II businesses may be safe depending on the government response. I am currently underwhelmed by the "support" for small business in the stimulus bill, but there seems to at least be talk about this so maybe things will change. "Essential" businesses may receive a bailout to get them through tough times.
Type III businesses are completely screwed, no one seems to know they are even there. They won't qualify for support as "small businesses", and they have no way of obtaining liquid assets in this market. In particular, the larger businesses don't have the pristine assets to obtain liquidity in these markets, they are dependent on collateral transforms.
I won't predict whether the markets will go up or down this week, next, etc. But I will speculate this: I think the calm we saw in the markets was an actual calm. I think there was panic as businesses tried to obtain liquidity. They now believe they have the liquidity to make it through the near future, and are satisfied. There could be fire-sales in the near term for other reasons, but I don't think short-term liquidity will be the cause. However, most corporations don't speculate very hard when it comes to the future: they listen to the "experts". And these "experts" in government and the financials have been predicting doom and gloom for the next couple weeks, but that things will "bounce back" afterward. This is flatly false. As this becomes more apparent to these companies, I think we'll see another run on the market.
Particularly, it will be the large Type III business that will be the most vulnerable. They won't have any government stimulus support, and they won't have access to their normal modes of obtain cash. The last panic in the markets pushed bond yields so high that issuing new bonds will be completely out of the question. For them, it will be like a game of chess where your 4 moves away from being mated no matter what you do. Many of them will decide that bankruptcy is the best option in front of them.
Can the Fed prevent this? I don't think so. The Fed has the ability to soak up P-1/A-1/F1+, but they can only do this through the banks. But the banks aren't the ones in trouble this time, its the market itself. I have not read anything that leads me to believe that the Fed would be able to purchase junk assets from non- P-1/A-1/F1+ corporations without an act of Congress, and Congress is too slow and incompetent to see this problem coming or fix it in time. The Colosseum will be protected as Rome burns around it.
Sorry for any typos, poor wording. This was a long post.
submitted by the_asker_man to wallstreetbets [link] [comments]

I've reached the extent that I think I can tell this story. This is my experience with the cult

Introduction
I am hesitant to begin writing about these memories, and for two reasons. The first is out of fear - fear of retaliation. You see, I was taken advantage of by a cult that I escaped a few years ago in the summer of 2018. I wasn’t involved for long - ten months - but that wasn’t the end of the cult’s influence on me, as they cleverly had a previously unaffiliated visitor contact me and try to bring me back during the period afterwards. I believe they are still keeping tabs on be covertly, but this may just be my paranoid nature.
For nearly the entire first year afterwards, I was always looking over my shoulder to see if I was being followed. They definitely have an interest in roping me back into the fold, as you will see how sociopathic these people are. I’m still traumatized, and although I have healed a great deal from these trials, there is still lingering conditioning that causes me panic attacks and anxiety, which exemplifies my schizoaffective disorder. I attribute much of the reason I’m houseless now to the combination of my mental health and trauma caused by this group.
The second reason I am hesitant to begin writing is also out of fear, but this is instead a fear of not being able to deliver on my promise to expose this cult. I know I have the ability to write about my account, but will it be good enough? Will I be throwing these words into the electronic ocean like so many others with little effect on the world? I feel that no matter how hard I try, I will be unable to capture the cult’s devious acts in such a way to convey what it was like for me, a vulnerable individual, to be slowly turned into an obedient slave.
Inadequacy. This is an important piece of my psychology. After watching my mother decay and die for the first nine years of my life, followed by being raised by an abusive, narcissistic father, I have a profound feeling of inadequacy ruling me. I never feel like I am good enough; that I have to self-sacrifice - to the point where I believed I had to be as good as Jesus Christ - in order to achieve a passable level of human adequacy. The cult took advantage of these feelings in spades and left me a shell of who I was previously.
Fortunately, the period of houselessness that has extended the last year or so of my life has been a radically transformative period where I feel able to step out from barriers that previously trapped me. I feel freer than I ever have been, and to be honest, I owe a lot to the cult for pushing me to my breaking point and learning where my boundaries are. In fact, I don’t believe I could have stepped away from the denial of having a feminine side if it weren’t for the ridiculousness of how far I was pushed.
Now, I stand strong, ready to accomplish this mission life has presented me. It is my basic civic duty to tell my story and warn the public about this group and others who prey on vulnerable individuals in an unstable socioeconomic period. They deliberately attract people who are vulnerable for personal or financial reasons. For instance, there was a flat-earther from Belgium who was here illegally that got roped into our group by being attracted to the messages of sovereignty and their abundance of kooky new age beliefs. They even tried to get me to recruit more members using the same strategies they hooked me with - which is standard cult behavior.
This leads right into how I got involved with the cult in the first place. Part of it is my fault, as I was young and naive. I still am, but now I have the wisdom to not throw myself out there for any group to start manipulating. There are many people who can be drawn into their preying behavior, and it is important that I elaborate on how easy it is to get duped, so others don’t follow in my footsteps.
As you will see, the group was bizarre in many ways. I want to start off by saying that I did not join an organization of pee-drinkers who practiced blood-magick on the side of Main Street. Instead, I started working for a nonprofit that promised to change the world, and appeared to have the ability to do that. The weirdness grew exponentially over time, gradually as they conditioned us to accept their way of life.
On my own end, I wanted to join an intentional community; one where everyone involved works towards a singular end as one unit. I longed for the camaraderie and an alternate way of life. I wanted something different than what - as the cult called the common culture - “The Matrix,” or “Babylon” offered. There are such communities, but because of devious groups like this, everyone needs to be cautious when attempting to find them. I still seek to find or create an alternative lifestyle for myself where I can live amongst my brothers and sisters away from the mass-produced consumer culture of the world.
It’s been a hell of a journey, but I am happy where I am now. If anything, the group taught me that self-love is our first love; if the gardener does not take care of themselves, then who takes care of the garden? With my efforts to find such a community as I wanted, it was inevitable that some group would have sunk their teeth into me. I am grateful that I was able to recognize the far-flung insanity that I was trapped in and escape. Now I just need to focus on recovering and helping others who may be searching for the same things I am.
Chapter 1
It all started early in 2017. I was working on reverse networking, like trying to place a letter on someone’s shoes to let them know I exist. I was hoping to find a project I could use my skills as a writer and juggler by broadcasting who I was on our small online community, The Shrug Life Syndicate, on Reddit. I was so desperate to find such a community that fit my ideals and goals that I didn’t even conceive that someone could be watching in order to learn about me.
They first posted a link to their site on our community’s board, when they were still going by the Awakening Sovereignty Collective. To best understand how I perceived them initially, you have to understand that I was lost in what we at the Shrug Life Syndicate call the synchronicity slip stream. An aspect of my schizoaffective disorder, I often get lost in various series of synchronicities that form a coherent narrative that compels me to behave differently than I otherwise would. It is an amazing feature of my mental health for creativity and finding alternative solutions to problems, but it can be debilitating when trying to fit in to the normal world. When the ASC posted, I believed applying on their website was the obvious thing I should do in order to accomplish my cosmic mission.
Well, nothing happened at first, and I forgot about them until several months later until I received an email stating I was hired. This came after a series of strange tasks from anonymous accounts that seemed to be tests to see if I was as capable of a writer as I portrayed myself as being. I remember one test was to see if I could write a sales pitch for “Unicorn Poop,” an edible snack with a humorous twist. I don’t have any proof that these two events are connected, but it definitely tripped my radar as odd that they happened one after another, and nothing ever came from the sales tasks.
Having passed their tests, I began working with them online. It was a slow process, as there wasn’t a lot of work right out the gate, but there was a lot to learn. Their websites were many in number and often confusing. I had difficulty navigating them and almost quit trying within days of getting started. I remember crumbling back into my addictive nature one night as the wailing cries of depression came roaring back with my initial perceived failure.
If I were not partially psychotic, believing the universe was guiding me to the salvation I sought, then that would have been the end of it. Many other people seemed to have given up while I was still new to working for them. If I were to guess, I would say that this was deliberate on their part in order to weed out only people like me, who were in some way desperate to be a part of the group. With only a small number of desperate people finding their way into the clutches of these people, it must be easier to control them as well.
The ASC promised a new way of life for anyone seeking it. They claimed to be a planetary alliance that was helping ecovillages, nonprofits, conscious businesses, and individual change agents. They were working on a cryptocurrency and software suite that would help communities better serve the world. This was at the peak of the bitcoin bubble, where many people unfamiliar with cryptocurrencies were trying to get in on the hype. They touted a number of figures and claims which ultimately turned out to be false or otherwise misrepresentative of the truth, but in the moment I believed everything they were shoveling.
It was easy for them to sell the idea and project as they were all natural sales personalities. I attended a lot of meetings, particularly with the writer’s team, and started to get to know the people behind the project. In the moment, they appeared to be down-to-Earth and relatable, but highly conscious individuals who really cared about the world and were motivated to do the work necessary to make the changes needed for the planet. In hindsight, they really only cared about money, and were playing a part to catch people like me.
The leader was named Dakota, if that was his real name (I believe most of the main group had adopted a second name to hide who they really were). He was a young man claiming to have graduated high school at ten, and he founded a company known as STADA which was facilitating much if not all of the software needs of the ASC. He was brilliant, but I believe most of his brilliance was self-generated through his ability to sell himself as more than he really was. He always acted like a millionaire who was going to change the world, which made it easy for him to sell the project to people like me.
The co-leader was named Lila. She was a cheerful person who always had something positive to add to the conversation. While working with her, I found this to be a powerful part of her personality. It was hard to say no to her, as she had a motherly vibe and she strategically would ask you to do things that left you feeling compelled to help her, for the good of the project. She first won me over by claiming to run a retreat center for circus skills. I only heard of this in the beginning of my journey with the group, so I believe it may have been a bogus means to shift my opinion of them.
The leader of the writer’s team was named Teahna, who was beautiful and knew how to use her womanly charm to influence others. She seemed to be new to the project as well, having recently written her first book, and my time working with her online seemed to be a learning experience for both of us. I believe this was also planned, so that I would have some support learning what I was supposed to be doing on the various websites that seemed to pile up more and more as time went on.
The work was easy at first. There were no assignments or anything like that. It was all pile work - as in, just grab a shovel and get paid for what you move. As a writer, I naturally gravitated to the writers team’s tasks, but I also helped with the education team and the core tasks of the group. Mostly I wrote articles and website content for them, but I also wrote fake twitter bios, social media posts, and began working on their constitution/manifesto before arriving at their headquarters.
I was making good money, both in real dollars and their own cryptocurrency, Equality Keys. They claimed we could trade their currency for real money at any time, which turned out to be a lie. They often only let us exchange it at certain times at a reduced value. But, I was naive enough to believe that the numbers on my screen were real and meant I was doing good. It wasn’t long before I earned upwards of thousands of dollars worth of their currency, which was promised to rise in value as the project continued to grow and evolve.
After a few weeks working with them, they began toying with a name change to Earth Nation. I believe this is a key part of their method of staying under the radar. By changing names and projects frequently, they never gather enough clout to be exposed as the charlatans that they are. They would later create a new project known as Earth Cycle, and there was a tentacle organization we got hooked into after our stay with the main group called Lovecycle. In regards to the latter, I will never forget the name Lovecycle, as that is when the bulk of bizarre and traumatic events occured.
This is around the same time that my girlfriend at the time began helping out as well. We worked together as a writer and artist combo, and they were initially excited to have another person joining to help. There was some friction though, such as bluntly being told they had no need for an artist at this time after they welcomed her onboard, and there were moments where it seemed like they did not want her to be a part of the project. As they turned her and I against each other much later in our odyssey with them, I think this must have been deliberate to sow the seeds of conflict between us. Again, this is classic cult behavior. I regret bringing her into the whole thing, as she is no doubt as traumatized as I am.
What really allowed me to lose myself in the hope of the project was the possibility to do exactly as I dreamed: travel with a caravan, juggle at festivals, help sell whatever my girlfriend and others made, and write gonzo journalism about what Earth Nation was doing. One of the main draws of the group was that they advertised in the meetings about how they had a proposal system, where anyone could come with their plan and it could be voted on to be given resources. They were interested in my idea (how much of that was just gaslighting me to believe I’ve found the perfect gig, I don’t know), and wanted me to do some journalism about my experiences moving to their headquarters just outside Eugene, Oregon - on the other side of the country.
My girlfriend and I were ecstatic at the idea of starting a new life on the west coast. It was the dream we both shared, to abandon the broken world we knew and join something better. We began preparing for the move, sold all of our stuff, and eventually took off from the airport with only three bags to our name. It was a leap of faith, and we were never happier to embrace our dreams and begin to live a much more interesting life.
Chapter 2
We left on October 25th, about a couple months after I first began working for the ASC. It was an amazing trip that we thought would represent our rebirth. I remember arriving at the airport feeling as though I was leaving a part of my past behind. I felt a wave of solemn emptiness and fear over this, but I have since learned such feelings are common with change of this magnitude. Mostly, I felt joy that a new chapter of my life was unfolding before my eyes.
It was a time where it seemed like we had infinite potential right at our fingertips. Who knew what would actually go down over the coming months? We were grateful for the opportunity and happy about the change. My girlfriend even changed her name to Awen to start over fresh as a new person. I still stuck with my birth name, Gregory, but eventually I would start going by the name Rory after having been pressured to by the group.
I remember looking out the window while Awen took pictures of everything we flew over. It was a trip in itself to see the world from such an angle. I was amazed at the number of wind farms in the middle of the country. Likewise, the closer we got to our destination, the more mountainous the ground beneath us became. The change in scenery would pale in comparison with the change in the culture of the west coast - one of the main reasons I now consider Portland my new home.
Landing in Eugene’s airport, we were regaled with Ducks memorabilia. This was a pleasant surprise, as I had forgotten that this was where an old hero from my track days, Steve Prefontaine, used to run. This made me feel hopeful while waiting for Teahna and Prism, the leader of the educational team. I remember pacing the entrance hall of the airport with a giddy smile stretching from ear to ear. This was it, I told myself: I had finally found my new home.
After a long day of airline travel, we were eventually picked up in Prism’s van. We were met with hugs and smiles, which rejuvenated us after the natural stress of the trip. We chatted the entire way back to Triangle Lake, where their headquarters supposedly was. Both Awen and I were antsy while being shaken back and forth while sitting on Prism’s bed for the duration of the drive. I distinctly remember the beautiful colors of the autumn trees as we drove past. This last little bit of our trip took roughly forty-five minutes, but it felt like we were pulling up to the headquarters in an instant.
I caught a glimpse of a sign as we pulled into the long driveway: Circle of Children. This would be where we stayed for the first two months. The area was gorgeous. Giant trees covered in green moss extended as far as the eye could see. With the abundance of fern-life, it reminded me of a Jurassic paradise. Out the cracked window of the van, I could hear tree frogs chirping in harmony. It was certainly something out of another world compared to the east coast.
We stopped in front of the main office - the only building with wifi. If I were to graph the amount of access to the internet we had across the ten months we were involved, it would have a steady, negative slope. Of course, while being conditioned by the group, it was barely noticed, as we grew less dependent on the internet as time went on. We were never barred from the outside world - in fact we interacted with it regularly - but the idea of leaving was made so impossibly far outside the bounds of possible choices through a long series of scripted events.
Which is why the entire beginning of our stay at the Triangle Lake Convention Center seemed like something out of a fantasy paradise. Everything, from the overarching narrative we were fed, to the day-to-day interactions, was designed to win us over, gaslight us, and manipulate us emotionally by using our traumas against us. In the aftermath of the whole escapade, I learned that this is the type of manipulation that cults use to prevent members from seeing reason while keeping them docile, obedient work horses for the greater project, whatever it may be.
It is clear to me now that Earth Nation and all tentacle organizations are a purely criminal enterprise - a money-making machine for those at the top of the hierarchical pyramid. Even though we were supposedly a DAO - a decentralized autonomous organization - there were clearly people who were centralized leaders profiting from everything the group did.
And everybody played their roles well upon our arrival. We were greeted with another barrage of hugs as we got out of the van. Everybody was excited to finally meet us in person, as were we to meet them. We chatted with Dakota and Lila for some time outside of the office. They were the exact same as their online personas. In the moment, this gave us a sense that these people were genuine, but in hindsight it serves as a reminder that anyone can create a convincing character and play them whenever they want - even if they choose to never take their deceptive masks off.
We were then shown where we would be staying. Up the hill and to the left we drove until we were in front of Carmen Hall. It was a quaint dorm-style lodging with a large common area and a small kitchenette. Many nights were spent in the common room with the others who were staying in the building. Because we were a couple, we were given the largest room with its own bathroom.
That’s another thing that changed in a downward slope: our living quarters. Over the course of the ten months we were with them, we were downgraded from having our own space, to sharing space, to living in a tent. And again, because of the conditioning, we were fine with the change.
Sometime during the early evening, we went back down to the dining hall and kitchen which was across the way from the main office. Here, we met a variety of characters, including Tuva, a humble appearing guy with a large social network he brought with him to the project, and Daniella, who would turn out to be mommy dearest as she was the sole woman controlling us for the majority of our adventure on the west coast. A Brazillian native, she was as good of a manipulator as she was a cook, and we all enjoyed a wonderful meal on our first night in Oregon.
Before the night was up, we went behind the kitchen to smoke with a man named Grizzly; a wild looking man who mostly kept quiet but had a mouth to use if he needed it. It was the first time we smoked in Oregon and it felt liberating to finally be in a legal state. But, as freeing and fun as being able to smoke whenever we wanted, I believe the abundance of weed we were constantly fed was a means to keep us docile. Daniella always made sure we had some weed, and would frequently smoke with us. I feel I would have been able to say something as things changed if I were not dependent on the constant stream of marijuana.
Afterwards, we went back to Carmen Hall with a couple of members who also stayed there, and Daniella performed a pendulum reading for me and my girlfriend. Holding a crystal on a chain, she “read” the direction it spun as she brought it up in alignment with our chakras. She was spot on and I wanted to say that she had excellent observation skills, but I kept my mouth shut. I didn’t want to offend anyone’s beliefs, especially my girlfriend who considered herself a mystic and bought into the act.
That night we cuddled in our room, smiling as wide as our mouths could. We had done it - we successfully started our new lives and were going to be a part of something we still had yet to fully comprehend. Everything was new and exciting, and while we were overjoyed, we were glad we had each other because things were still scary. If only we had known then how scary things would become.
Chapter 3
The next morning, we showered, dressed, and went down to the kitchen. There was a slight fog in the air, and we saw a family of deer in a clearing off the road. We would see this family of deer several times during out stay at Triangle Lake, which greatly enthused my girlfriend. She said they were a symbol of wisdom, and must be a good sign as we continued to be indoctrinated by the new age beliefs of the group.
We were early, as our daily meetings were at ten and that is when most people started to show up at the office. But Grizzly was there, as he stayed at the nurses station that sat next to the main office. He offered us some dabs, which just further enforced our belief that this was a great group to be a part of. He also offered me a metal six-shooter pipe, which proved to be the main piece I would smoke out of for the entirety of our adventure.
Breakfast consisted of whatever we could scrounge up. There was a huge walk-in freezer in the kitchen that hosted tons of food when we first got there. There were also a wide selection of dry foods such as figs and nuts. That whole selection would dwindle over time, as the group got everything as donations, usually by soliciting the local food pantries and the Eugene mission and much was close to their expiration dates. It was common to open the freezer and find something moldy.
This was the first time I really interacted with Doran. Doran looked a lot like me - complete with similar beard and glasses - but had shorter, curlier, and darker hair. It was joked that “I was another you.” He appeared to be a really kind-hearted person, and we frequently went to him with problems. This is likely planned as well, to have someone to vent the frustrations we were experiencing as the project transitioned to something different than what we signed up for. I opened up to him before I did with other members, even asking for relationship advice as they tried turning Awen and I against each other between, and received what I now consider a long-standing act of being a good ear with standard advice from the group. Still, he was funny and I enjoyed making strange mixtures of food with him.
As it neared ten, we shuffled to the office to have our meeting. The office had two rooms, and we were all huddled in a circle in one of them. This was nice during the coming months as it was also the only room with the heater. These meetings proved to be a main means to program us, as there were many exchanges that could have only been scripted. We would often talk about one thing, but there would be a subtopic that was teased that would change the meaning of the whole meeting in the context that I heard it. Often there would be some crosstalk in the kitchen beforehand, or something during the day that warped my understanding of what was said
We were required to work thirty hours a week in order to receive our basic income of two hundred dollars a month, as per our agreements before moving to the headquarters. However, it wasn’t long before they duped us by saying the basic income would be used to cover our time staying at Triangle Lake. We weren’t able to fight it, because our tongues were tied by the desire to fit in and be accepted by the group. The ways that they changed things were gradual and deliberate, so that you would never really feel like you were getting taken advantage of. It was just a change, which was alright, because there was a world to save and we were the group who was going to get it done.
That was one of the major ways they were able to get away with a lot of the back-pedaling of agreements - they would always have new, unexpected surprises waiting for us. It was gradual, but they introduced several new elements of communal living that required us to sacrifice more of our money and autonomy. They did this by having so-and-so nonchalantly bringing up these concerns in the meetings, then downplaying the resulting effects as something that should be expected, then agreeing with Dakota or Lila.
Keeping track of my hours was a joke. For everything I did, I was told I should have taken less time in order to do. The criticism I received came tongue-in-cheek and constructive at first, but steadily devolved into a series of harsh critiques that would leave me distraught and unable to think clearly. I was still unmedicated back then, and my emotional state was as turbulent as a hurricane. They did similar things to my girlfriend, as Lila took her under her wing, treating her as her child in order to take advantage of her own trauma she had with her mother.
If there was one thing these people really excelled at it is control. They figured us out quickly and efficiently and then used our traumas against us. Our second night there consisted of an informal group of the residents who stayed at Carmen Hall staring into each other’s eyes and then saying out loud what we felt at that moment. I remember staring at Daniella, who was a silhouette with the lamp directly behind her, and asking for healing. Something about the way she stared at me seemed to provoke a sense of trust and I felt that she would be able to help with a lot of the problems.
That’s one way they won over us and got us to do whatever they wanted. They are experts at gaining people’s trust and then they take advantage of that fact. Through these scripted and planned events they were able to warp our realities to the point where we were already robotic slaves right off the bat. We certainly were eager to earn their approval and work our way to a position where we were seen as valuable members of the project.
One of these planned events was Kukui’s birthday, which was just a few days after we got there. Kukui was a groundskeeper who had previously lived in Hawaii and was joked as being a ginger Jesus. He was an incredible person who really cared about the Earth. I have no idea if he was part of the manipulation or if he was there on similar beliefs that this was a group doing immense good in the world.
Early on during the night’s preparation, Dakota and Lila walked up to us and asked if we wanted to go out to eat with them. This struck us as odd that they would abandon Kukui on his birthday, but we didn’t see it as too weird at the time. We struck up a conversation, where it was revealed that Dakota had two EBT cards from different states.
One big hook they sunk into us was the idea that it was us versus the government. They managed to convince us that the institutions of the world were parasitic - which they usually are - but did it in such a way that made us feel like we were in a spiritual war against the bad boogie men of the world. And they managed this by gradually exposing us to more and more deliberate acts of defiance, in order to manifest our own sovereignty against the parasitic government.
It’s what led to us accepting some of their more diabolic schemes. For instance, there was talk about building a village in Ava, Missouri, moving all their people in, and then taking over the mayorship. They chose Missouri for this plan due to the different building codes of the state. In the moment, this seemed like a brilliant plan for expanding the influence of Earth Nation, but in hindsight appears to be a dystopian means to increase their power and continue taking advantage of people.
These were little seeds they planted that made us more comfortable with doing certain things that we otherwise wouldn’t. Awen was particularly uncomfortable with many of the things we did, but eventually they did get her to help out with their schemes. By keeping us under fear and gradually conditioning us, they were able to make us obedient as we were always looking out for our immediate survival.
Fear. That is an emotion I am now excessively familiar with as a result of this cult. While I have battled paranoia all my life, they took those primal emotions and twisted them to the point that I had no idea which way was up. Each day gradually became a battle while being on high alert, as I constantly scrambled to overcome whatever artificial set-backs were planted in my way and keep up with the workload that was presented to me.
My first exposure to this form of emotional manipulation came during Halloween. The night began jovially as Doran wore a plastic bag as a costume and invented a new dance that we all participated in. Daniella was preparing a large meal in the kitchen while we helped and played in rhythm to one another. The dinner we shared was only part of the night’s events that would change my life completely.
After dinner, Awen and I went back to our room and talked about what we wanted to do that night. The rest of the group was still down at the dining hall and preparing for a fun night of festivities. Awen was not opposed to me going, but she was and still is a pagan and wanted to celebrate her ancestors as per the tradition of Samhain. I debated spending the night with her, but the opportunity to spend time with these new people in our life made me curious as to what they would be doing. I will also admit that I was much more controlled by my addictive nature and was excited to drink with them.
So down I went. As I entered the dining hall, I saw that they were drinking tequila and generally having a great time. Naturally, I joined in and took a shot. Jovial times were had, and some time later I was offered another shot, but I did not see them pour this one. This turned out to be a crucial mistake on my part as I would find out that there was something else, something with psychedelic qualities, in the drink. It was not LSD, as I am familiar with the effects of that drug, so I am at a loss for what it could have been.
As the night went on I began to feel funny. It wasn’t until we were in a smoke circle that I began to notice something was wrong. I had trouble forming words and when Grizzly asked me a question all I could muster was a “hi!” This tripped me up and I went inside to go sit down.
This is where my memory starts to get fuzzy. I was mostly left alone as I sat cross-legged on a mat on the floor, but eventually there were three other people sitting around me, with a bottle placed in the center of us. I remember Prism and Josh, a carpenter who was doing some work on the buildings at Triangle Lake, were two of the people surrounding me, but I don’t remember any of the conversation they were having. I just remember getting really spooked at that time and tried to leave.
I don’t know how long it took me to get back to Awen, but I do remember the headlights of a vehicle coming down the hill as I was going up. It was late by the time I made it back in into Carmen Hall, which suggests that I have no memory of what happened after the apparent spin-the-bottle episode. My memory starts to get better as I remember lying there with Awen trying to articulate what was going on, but my words just spiraled into incomprehensible nonsense. She was worried for me, just as I was worried for myself.
The next morning continued on as if nothing ever happened, but I was emotionally jostled for the next few days. Nothing was ever said about what happened the night before, and a part of me was terrified that something happened Because my mother had AIDS, and that is a terror I still battle to this day, I obsessed over the idea that Prism, who was HIV positive, may have done something with me. I’ve since been tested and everything’s fine, but for a while I was terrified that I was raped.
Was that a rational or irrational fear? I’ll never know. What I do know is that they took advantage of my perturbed state by subtly twisting the knife in the following days with their synchronous set-ups, making me feel guilty that I did not choose to spend time with Awen that night, and thus making me work harder than ever before.
Chapter 4 in comments
submitted by Shrugbeternowthaneva to ShrugLifeSyndicate [link] [comments]

[Part 1] KAVA Historical AMA Tracker! (Questions & Answers)

ATTN: These AMA questions are from Autumn 2019 - before the official launch of the Kava Mainnet, and it's fungible Kava Token.
These questions may no longer be relevant to the current Kava landscape, however, they do provide important historical background on the early origins of Kava Labs.
Please note, that there are several repeat questions/answers.

Q1:

Kava is a decentralized DEFI project, why did you implement the countries restrictions to run the node? Will there be such restrictions by the time of the mainnet?

Q2:

According to the project description it has been indicated that staking reward (in KAVA tokens) varies from 3 to 20% per annum. But how will you fight with inflation?

We all know how altcoins prices are falling, and their bottom is not visible. And in fact, we can get an increase in the number of tokens for staking, but not an increase in the price of the token itself and become a long-term investor.

  • Answer: Kava is both inflationary with block rewards, but deflationary when we burn CDP fees. Only stakers who bond their Kava receive inflationary rewards - users and traders on exchanges do not get this. In this way, rewards are inflated, but given to stakers and removed value from the traders who are speculating like a tax. The Deflationary structure of fees should help counterbalance the price drops from inflation if any. In the long-term as more CDPs are used, Kava should be a deflationary asset by design if all things go well

Q3:

In your allocation it is indicated that 28.48% of the tokens are in the "Token treasury" - where will these tokens be directed?

  • Answer: Investors in financing rounds prior to the IEO have entered into long-term lock-up agreements in-line with their belief in Kava’s exciting long-term growth potential and to allow the projects token price to find stability. Following the IEO, the only tokens in circulation will be those sold through the IEO on Binance and the initial Treasury tokens released.
  • No private sale investor tokens are in circulation until the initial release at the end of Q1 2020 and then gradually over the [36] months The initial Treasury tokens in circulation will be used for a mixture of ecosystem grants, the expenses associated with the IEO as well as initial market making requirements as is typical with a listing of this size. Kava remains well financed to execute our roadmap following the IEO and do not envisage any need for any material financings or token sales for the foreseeable future.

Q4:

Such a platform (with loans and stable coins) is just the beginning since these aspects are a small part of many Defi components. Will your team have a plan to implement other functions, such as derivatives, the dex platform once the platform is successfully launched?

  • Answer: We believe Kava is the foundation for many future defi products. We need stable coins, oracles, and other infrastructure first that Kava provides. Once we have that, we can apply these to derivatives and other synthetics more easily. For example, we can use the price feeds and USDX to enable users to place 100x leverage bets with each other. If they both lock funds into payment channels, then they can use a smart contract based on the price feed to do the 100x trade/bet automatically without counter party risk. In this way, Kava can expand its financial product offerings far beyond loans and stable coins in the future.

Q5:

There are several options for using USDX on the KAVA platform, one of which is Margin Trading / Leverage. Is this a selection function or a compulsory function? Wondering since there are some investors who don`t like margin. What is the level of leverage and how does a CDP auction work?

  • Answer: This is a good #Q . Kava simply provides loans to users in USDX stable coins. What the users do is completely up to them. They can use the loans for everyday payments if they like. Leverage and hedging are just the main use cases we foresee - there are many ways people can use the CDP platform and USDX.

Q6:

Most credit platforms do not work well in the current market. What will you do to attract more people to use your platform and the services you provide? Thank you

  • Answer: Most credit platforms do not work well in the current market? I think that isn't correct at least for DeFi. Even in the bear market, MakerDao and Compound saw good user growth. Regardless, our efforts at Kava to build the market are fairly product and BD focused. 1) we build more integrations of assets and expand financial services to attract new communities and users. 2) we focus on building partnerships with high quality teams to promote and build Kava's core user base. Kava is just the developer. Our great partners like Ripple, Stakewith.Us, P2P, Binance - they have the real users that demand Kava. They are like our system integrators that package Kava up nicely and present it to their users. In order to grow, we need to deepen our partnerships and bring in new ones around the world.

Q7:

KAVA functions as a reserve currency in situations where the system is undercollateralized. In such cases new KAVA is minted and used to buy USDX off the market until USDX becomes safely overcollateralized.

Meaning, there will be no max supply of KAVA?

  • Answer: Yes, there is no max supply of Kava.

Q8:

Why Kava?

  • Answer: ...because people are long BTC and the best way to go long BTC without giving up custody is Kava's platform. Because it is MakerDao for bitcoin. Bitcoin has a 10x market cap of ETH and Maker is 10x the size of Kava. I think we're pretty undervalued right now.

Q9:

How do you plan to make liquidity in Kava?

  • Answer: Working with Binance for the IEO and as the first exchange for KAVA to trade on will be a huge boost in increasing the liquidity of trading KAVA.

Q10:

Most crypto investors or crypto users prefer easy transaction and low fees, what can we expect from KAVA about this?

  • Answer: Transaction fees are very low and confirm if seconds. The user experience is quite good on Tendermint-based blockchains.

Q11:

How do I become a note validator on KavA?

Q12:

It is great to know that KAVA is the first DEFI-supported project sponsored by Binance Launchpad, do you think this is the meaning that CZ brings: Opening the DEFI era, as a leader, you feel like how ?

  • Answer: We are the first DeFi platform that Launchpad has supported. We are a very strategic blockchain for major crypto like BNB. Kava's platform will bring more utility to the users of BNB and the Binance DEX. It feels good of course to have validation from the biggest players in the space like Cosmos, Ripple, CZ/Binance, etc.

Q13:

Since decentralized finance applications is already dominating, how do you intend to surpass those leading in the market?

  • Answer: The leaders are only addressing ethereum. BTC, XRP, BNB, ATOM is a much larger set to go after that current players cannot.

Q14:

What does Ripple play in the Kava's ecosystem, since Ripple is like a top tier company and it’s impressive that you are partnered with them?

  • Answer: Ripple is an equity investor in Kava and a big supporter of our work in cross-chain settlement research and implementations. Ripple's XRP is a great asset in terms of users and liquidity that the Kava platform can use. In addition, Ripple's money service business customers are asking for a stable coin for remittances to avoid the currency heading risk that XRP presents. Ripple will not use USDC or other stable coins, but they are open to using USDX as it can be XRP-backed.

Q15:

Considering the connectivity, Libra could be the biggest competitor if KAVA leverages interchain for efficiency.

  • Answer: With regard to USDX, it is important to understand the users interacting with the Kava blockchain have no counterparty that people could go after for legal actions. A user getting a USDX loan has no counterparty. The software holds the collateral and creates the loan. The only laws that would apply are to the very users that are using the system.

Q16:

Wonder how KAVA will compete with the tech giants

  • Answer: Libra is running into extreme issues with the US Senate and regulators. Even the G7-G20 groups are worried. Its important to understand that Libra is effectively a permissioned system. Only big companies that law makers can go after are able to run nodes. In Kava, nodes can be run by anyway and our nodes are based all over the world. It's incredibly hard for a law maker to take down Kava because they would need to find and legally enforce hundreds of business in different jurisdictions to comply. We have an advantage in this way over the larger projects like Libra or Clayton.

Q17:

In long-term, what's the strategy that KAVA has for covering the traditional finance users as well? Especially regarding the "stability"

  • Answer: Technical risk is unavoidable for DeFi. Only time will tell if a system is trustworthy and its never 100% that it will not fail or be hacked. This is true with banks and other financial systems as well. I think for DeFi, the technical risk needs to be priced in to the expected returns to compensate the market. DeFi does have a better user experience - requiring no credit score, identity, or KYC over centralized solutions.
  • With our multi-collateral CDP system, even with it overcollateralized, people can get up to 3x leverage on assets. Take 100 USD in BTC, get a USDX loan for 66 USDX, then buy $66 BTC and do another loan - you can do this with a program to get 3x leverage with the same risk profile. This is enough for most people.
  • However, it will be possible once we have Kava's CDP platform to extend it into products that offer undercollateralized financial products. For example, if USER 1 + USER 2 use payment channels to lock up their USDX, they can use Kava's price feeds to place bets between each other using their locked assets. They can bet that for every $1 BTC/USD moves, the other party owes 3x. In this way we can even do 100x leverage or 1000x leverage and create very fun products for people to trade with. Importantly, even in places where margin trading is regulated and forbidden, Kava's platform will remain open access and available.

Q18:

In long-term, what's the strategy that KAVA has for covering the traditional finance users as well? Especially regarding the "stability"

  • Answer: Kava believes that stable coins should be backed not just by crypto or fiat, but any widely used, highly liquid asset. We think in the future the best stablecoin would be backed by a basket of very stable currencies that include crypto and fiat or whatever the market demands.

Q19:

Compound, maker they're trying to increase their size via the competitive interests rates. THough it shows good return in terms of growth rate, still it's for short-term. Wonder other than financial advantage, KAVA has more for the users' needs?

  • Answer: Robert, the CEO of Compound is an investor and advisor to Kava. We think what Compound does with money markets is amazing and hope to integrate when they support more than just Ethereum assets. Kava's advantage vs others is to provide basic DeFi services like returns on crypto and stable coins today when no other platform offers that. Many platforms support ETH, but no platform can support BTC, XRP, BNB, and ATOM in a decentralized way without requiring centralized custody of these assets.

Q20:

The vast majority of the cryptocurrency community's priorities is symbolic pricing. When prices rise, the community rejoices and grows. When they fall, many people begin to cast in a negative way. How will KAVA solve the negative problem when the price goes down? What is your plan to strengthen and develop the community to persuade more people to look at the product than the price?

  • Answer: We believe price is an important factor for faith in the market. One of Kava's key initiatives was selecting only long-term partners that are willing to work with kava for 2 years. That is why even after 6 months, 0 private investor or kava team tokens will be liquid on the market.
  • We believe not in fast pumps and then dumps that destroy faith, but rather we try and operate the best we can for long-term sustainable growth over time. It's always hard to control factors in the market, and some factors are out of our control such as BTC price correlations, etc - however, we treat this like a public company stock - we want long-term growth of Kava and try to make sure our whole community of Kava holders is aligned with that the best we can.

Q21:

Do you have any plans to attract non-crypto investors to Kava and how? What are the measures to increase awareness of kava in non-crypto space?

  • Answer: We are 100% focused on crypto, not the general market. We solve the problems of crypto traders and investors - not the average grandma who needs a payment solution. Kava is geared for decentralized leverage and hedging.

Q22:

Adoption is crucial for all projects and crypto companies, what strategy are you gonna use/follow or u are now following to get Kava adopted and used by many people all over the world?

Revenue is an important aspect for all projects in order to survive and keep the project/company up and running for long term, what are the ways that Kava generates profits/revenue and what is its revenue model?

  • Answer: We have already partnered with several large exchanges, long-term VCs, and large projects like Ripple and Cosmos. These are key ways for us to grow our community. As we build support for more assets, we plan to promote Kava's services to those new communities of traders.
  • Kava generates revenue as more people use the platform. As the platform is used, KAVA tokens are burned when users pay stability fees. This deflates the total supply of Kava and should in most cases give rise to the value of KAVA like a stock-buyback in the public markets.

Q23:

In order to be success in Loan project of Cryptocurrency, I think marketing is very important to make people using this service without any registration. What is main strategy for marketing?

  • Answer: Our main strategy is to build a great experience and offer products that are not available to communities with demand. Currently no DeFi products can serve BTC users for example. Centralized exchanges can, but nothing truly trustless. Kava's platform can finally give the vast audiences of BTC, BNB, and ATOM holders access to core DeFi services they cannot get on their own due to the smart contract limitations of those platforms.

Q24:

Currently, some project have policies for their ambassadors to create a contribution and attract recognition for the project! So the KAVA team plans to implement policies and incentives for KAVA ambassadors?

  • Answer: Yes, we will be creating a KAVA ambassador program and releasing that soon. Please follow our social media channels to learn about it in the coming weeks.

Q25:

Currently there are so many KAVA tokens sold on exchanges, why is this happening while KAVA is going to IEO on Binance? Are those KAVA codes fake or not?

  • Answer: For everyone's safety, please understand Kava tokens do not exist yet and they will only exist starting with the Binance IEO. Any other token listings or offerings of Kava are not supported by Kava Labs and I highly discourage you all from trying to get them there. It is most likely a big scam. Please only trust Binance for this.

Q26:

KAVA have two tokens, the first is called Kava - a governance and staking token; the second is called USDX - an algorithmically managed crypto-backed stable coin. What are the advantages of USDX compared to other stablecoins such as: USDT, USDC, TUSD, GUSD, ...?

  • Answer: USDX is one of the few stablecoins to be fully backed by crypto-assets. This means that we do not deal with fiat to back the value, and thus we don't have some of the issues when it comes to storing fiat funds with banks and custodians. This also makes our product fully digital and built for the future of crypto growth.

Q27:

As a CEO, does your background in Esports and Gaming industry help anything to your management and development of KAVA Labs?

  • Answer: Esports no. But having been a multi-time venture-backed foundeCEO and have gone through the start-up phase before has made creating and running a 2nd company easier. Right now Kava is still small, Fnatic had over 80 employees. It was at a larger scale. I would say developing software is much more than doing the hardware at fnaticgear.com

Q28:

Why did Kava choose to launch IEO on Binance and not other exchanges like: Kucoin, Houbi, Gate, ....?

  • Answer: Kava had a lot of interest from exchanges to partner with for IEO. We decided based on a lot of factors such as userbase, diverse exposure across multiple regions and countries, and an amazing team that provides so much insight into so many communities such as this one. Binance has been a tremendous partner and we also look forward to continuing our partnership far into the future.

Q29:

Currently if Search on coinmarketcap has 3 types of stablecoins bearing the USDX symbol (but these 3 stablecoins are no information). So, what will KAVA do to let users know that Kava's USDX is another stablecoin?

  • Answer: All these USDX have no volume or listings. We will be on Binance. I am not worried.

Q30:

In addition to the Token Allocation for Binance Launchpad, what is the Token Treasury in the Initial Circulating Supply?

  • Answer: This is controlled by Kava Labs, but with the big cash we have saved from fundraising, we see no reason why these tokens would be sold on the market. The treasury tokens are for use in grants, ecosystem growth initiatives, development, and other incentive programs to drive adoption of the platform.

Q31:

How you will compete with your competitors? Currently i don't see much but for future how you will maintain this consistency ? No doubt it is Great and Unique project, what is the main problem that #KAVA is currently facing?

  • Answer: Because our industry is just starting out, I don't like to think of them as our direct competitors. We are all working to grow the size of the pie rather than get a larger slice from a small pie. The one thing that we believe will allow us to stand apart is the community we are building. Being able to utilize our own community along with Cosmos and our other partners like Binance for the IEO, we have a strong footing to get a lot of early users onto our platform. Also, we are also focusing on growing Kava internationally particularly Asia. We hope to build our platform for an even larger userbase than just the west.

Q32:

How do you explain your project to a random person who has never heard of your project?

  • Answer: non-crypto = Kava is a lending platform for users of cryptocurrencies.
  • crypto = Kava is a cross-chain DeFi platform for loans and stablecoins backed by BTC, BNB, XRP, ATOM and other major cryptocurrencies.

Q33:

Will KAVA team have a plan on implementing DAO module on your platform since its efficiency on autonomy, decentralization and transparency?

  • Answer: All voting is already transparent on the Kava blockchain. We approved a number of proposals on our test net.

Q34:

how to use usdx token :only for your platform or you have plan to use usdx for payment ?

  • Answer: Payments is a nice use case, but demand for crypto payments is still small. We may choose to focus here later if demand for crypto payments increases. Currently it is quite small with the bulk of use remaining in trading and speculative use cases.

Q35:

Do you have plans to spread KAVA ecosystem across other continents. if yes, what are the strategies and how can I as a community member contribute to making it possible?

  • Answer: We are already across many continents - I don't think we are in antarctica yet. Africa might be light on nodes as well. I think as we grow on major exchanges like Binance, new node operators will get interested and help decentralize Kava further.

Q36:

Maker's CDP lending system is on top in this market and its Dominance is currently sitting on 64.90 % , how kava will compete will maker and compound?

  • Answer: adding assets like bitcoin which have more value and more users than ETH. It's a bigger market that Maker cannot compete with Kava in.

Q37:

Currently, the community is too concerned about the price. As prices rise, the community rejoice and grow, when falling, many people start throwing negatively. So what is KAVA's solution to getting people to focus on the project rather than the price of the token?

What is your plan to strengthen and grow the community to persuade more individuals to look at the product than the price?

  • Answer: We also share similar concerns as price and price direction is always a huge factor in the crypto industry. A lot of people of course are very short-term focused on flipping for bigger profits. One of the solutions, and what Kava has done, is to make sure that everything structured is for the long-term. So that makes sure that our investors and employees are all focused on long-term gains and growth. Locking vesting periods are part of that alignment. Another thing is that we at Kava are very transparent in our progress and development. We will be regularly posting updates within our own communities to allow our users and followers to keep up with everything we're up to. Please follow us or look at our github if you're interested!

Q38:

How did Kava get on Piexgo?

  • Answer: We did not work with Piexgo. We have not distributed tokens to any exchange other than Binance. I cannot speak to what is going on there, but I would be very wary of what is happening there.

Q39:

Why was the 1st round price so much lower than the current price

  • Answer: It is natural to worry that early investors got better pricing and could dump on the market. I can assure you that our investors are in this for the long-term. All private sale rounds signed 2 year contracts to run validators - and if they don't they forfeit their tokens. You can compare our release schedule to any other project. We have one of the most restricted circulating supply schedules of any project EVER and its because all our investors are commiting to the long-term success of the project and believe in Kava.
  • About the pricing itself - it is always a function of traction like for any start-up. When we made our public announcement about the project in June, we were only a 4 man team with just some github code. We could basically run a network with a single node, our own. Which is relatively worthless. I think our pricing of Kava at this time was justified. We were effectively a seed-stage company without a product or working network.
  • By July we made severe progress on the development side and the business side. We successful launched our first test net with the help of over 70 validator business partners around the world. We had a world-wide network of hundreds of people supporting us with people and resources at this point and the risk we would fail in launching a working product was much lower. At this point, the Kava project was valued at $25M. At this point, we had many VCs and investors asking for Kava tokens that we turned away. We only accepted validators that would help us launch the network. It was our one and only goal.
  • Fast forward to today, the IEO price simply reflects the traction and market demand for Kava. Our ecosystem is much larger than it was even a month ago. We have support from Ripple, Cosmos, and Binance amongst other large crypto projects. We have 100+ validators securing our network with very sophisticated high-availability set-ups. In addition, our ecosystem partners have built products for Kava - such as block explorers and others are working on native integrations to wallets and exchanges. Launchpad will be very big for us. Kava is a system designed to cater to crypto traders and investors and in a matter of days we distributed via Binance Launchpad and put in the hands of 130+ countries and tens of thousands of users overnight. It doesn't get more DeFi than that.

Q40:

What is the treasury used for?

  • Answer: Kava's treasury is for ecosystem growth activities.
  • Investors in financing rounds prior to the IEO have entered into long-term lock-up agreements in-line with their belief in Kava’s exciting long-term growth potential and to allow the projects token price to find stability. Following the IEO, the only tokens in circulation will be those sold through the IEO on Binance and the initial Treasury tokens released. No private sale investor tokens are in circulation until the initial release at the end of Q1 2020 and then gradually over the [36] months The initial Treasury tokens in circulation will be used for a mixture of ecosystem grants, the expenses associated with the IEO as well as initial market making requirements as is typical with a listing of this size. Kava remains well financed to execute our roadmap following the IEO and do not envisage any need for any material financings or token sales for the foreseeable future.

Q41:

Everyone have heard about the KAVA token, and read about it. But it would be great to hear your explanation about it. What is the Kava token, what is it's utility? :)

  • Answer: The Kava token plays many roles. KAVA is the native staking token of the Kava blockchain and is used for securing the network. KAVA is delegated to validators, basically professional node operators that run highly-available servers to secure the Kava blockchain. The top 100 validators by weight of staked KAVA earn block rewards that range from 3-20% APR based on the total amount staked in the network. These rewards are split between the validators and the KAVA holders.
  • When users of the platform repay their loans, they must a stability fee (a percentage of the loan) in KAVA tokens. These tokens are burned by the system, effectively deflating the total supply overtime as more users use the CDP system.
  • KAVA is also the primary token used in governance of the platform. KAVA token holders can vote on key system parameter changes and upgrades such as what assets to support, how much USDX in total can be loaned by the system, what the debt-to-collateral ratio needs to be, the stability fees, etc. KAVA holders have a very important responsibility to govern the system well.
  • Lastly, Kava functions as a "Lender of Last Resort" meaning if USDX ever gets undercollateralized because the underlying asset prices drop suddenly and the system manages it poorly, KAVA is inflated in these emergency situations and used to purchase USDX off the market until USDX reaches a state of being over collateralized again. KAVA holders have incentive to only support the good high quality assets so risk of the system is managed responsibly.

Q42:

No matter how perfect and technically thought-out a DeFi protocol is, it cannot be completely protected from any unplanned situations (such as extreme market fluctuations, some legal issues, etc.)

Ecosystem members, in particular the validators on whom KAVA relies on fundamental decision-making rights, should be prepared in advance for any "critical" scenario. Considering that, unlike the same single-collateral MakerDAO, KAVA will be a multi-collateral CDP system, this point is probably even more relevant here.

In this regard, please answer the following question: Does KAVA have a clear risk management model or strategy and how decentralized is / will it be?

  • Answer: Simialar to other CDP systems and MakerDAO we do have a system freeze function where in cases of extreme issues, we can stop the auction mechanisms and return all collateral.

Q43:

Did you know that "Kava" is translated into Ukrainian like "Coffee"? I personally do love drinking coffee. I plunge into the fantasy world. Why did you name your project "Kava" What is the story behind it? What idea / fantasy did your project originate from, which inspired you to create it?

  • Answer: Kava is coffee to you.
  • Kava is Hippopotamus to Japanese.
  • Cava is a region in Spain
  • Kava is also a root that is used in tea which makes your mouth numb.
  • Kava is also crow in Hindi.
  • Kava last but not least is a DeFi platform launching on Binance :)
  • We liked the sound of Kava it was as simple as that. It doesn't have much meaning in the USA where I am from. But it's short sweet and when we were just starting, Kava.io was available for a reasonable price

Q44:

What incentives does a lender get if a person chooses to pay with KAVA? Is there a discount on interest rates on the loan amount if you pay with KAVA? Do I have to pass the KYC procedure to apply for a small loan?

  • Answer: There is no KYC for Kava. Its an open blockchain software platform where anyone with a computer can connect to it and use it.

Q45:

Let's say, I decided to bond my cryptocurrency and got USDX stable coins. For now, it`s an unknown stable coin (let's be honest). Do you plan to add USDX to other famous exchanges? Also, you have spoken about the USDX staking and that the percentage would be higher than for other stable coins. Please be so kind to tell us what is the average annual interest rate and what are the conditions of staking?

  • Answer: Yes we have several large exchanges willing to support USDX from the start. Binance/Binance-DEX is one you should all know ;)
  • The average annual rates for USDX will depend on market conditions. The rate is actually provided by the CDP fees users pay. The system reallocates a portion of those fees to USDX users. In times when USDX use needs to grow, the rates will be higher to incentivize use. When demand is strong, we can reduce the rates.

Q46:

Why should i use and choose Kava's loan if i can use the similar margin trade on Binance?

  • Answer: If margin is available to you and you trust the exchange then you should do whatever is cheaper. For a US citizen and others, margin is often not available and if it is, only for a few asset types as collateral. Kava aims to address this and offer this to everyone.

Q47:

The IEO price is $ 0.46 while the price of the first private sale is $ 0.075. Don't you think that such price gap can negatively affect the liquidity of the token and take away the desire to buy a token on the exchange?

  • Answer: It is natural to worry that early investors got better pricing and could dump on the market. I can assure you that our investors are in this for the long-term. All private sale rounds signed 2 year contracts to run validators - and if they don't they forfeit their tokens. You can compare our release schedule to any other project. We have one of the most restricted circulating supply schedules of any project EVER and its because all our investors are commiting to the long-term success of the project and believe in Kava.
  • About the pricing itself - it is always a function of traction like for any start-up. When we made our public announcement about the project in June, we were only a 4 man team with just some github code. We could basically run a network with a single node, our own. Which is relatively worthless. I think our pricing of Kava at this time was justified. We were effectively a seed-stage company without a product or working network.
  • By July we made severe progress on the development side and the business side. We successful launched our first test net with the help of over 70 validator business partners around the world. We had a world-wide network of hundreds of people supporting us with people and resources at this point and the risk we would fail in launching a working product was much lower. At this point, the Kava project was valued at $25M. At this point, we had many VCs and investors asking for Kava tokens that we turned away. We only accepted validators that would help us launch the network. It was our one and only goal.
  • Fast forward to today, the IEO price simply reflects the traction and market demand for Kava. Our ecosystem is much larger than it was even a month ago. We have support from Ripple, Cosmos, and Binance amongst other large crypto projects. We have 100+ validators securing our network with very sophisticated high-availability set-ups. In addition, our ecosystem partners have built products for Kava - such as block explorers and others are working on native integrations to wallets and exchanges. Launchpad will be very big for us. Kava is a system designed to cater to crypto traders and investors and in a matter of days we distributed via Binance Launchpad and put in the hands of 130+ countries and tens of thousands of users overnight. It doesn't get more DeFi than that.
  • TLDR - I think KAVA is undervalued and the liquid supply of tokens is primarily from the IEO so its a safer bet than other IEOs. If the price drops, it will be from the overall market conditions or fellow IEO users not due private sale investors or team sell-offs.

Q48:

Can you introduce some information abouts KAVA Deflationary Fee Structure? With the burning mechanism, does it mean KAVA will never reach its max supply?

  • Answer: When loans are repaid, users pay a fee in Kava. This is burned. However, Kava does not have a max supply. It has a starting supply of 100M. It inflates for block rewards 3-20% APR AND it inflates when the system is at risk of under collateralization. At this time, more Kava is minted and used to purchase USDX off the market until it reaches full collateralization again.
  • TLDR: If things go well, and governance is good, Kava deflates and hopefully appreciates in value. If things go wrong, Kava holders get inflated.

Q49:

In your opinion what are advantage of decentralized finance over centralized?

  • Answer: One of the main advantages is not needing to pay the costs of regulation and compliance. Open financial software that is usable by anyone removes middle men fees and reduces the barrier for new entrants to enter and make new products. Also DeFI has an edge in terms of onboarding - to get a bank account or an exchange account you need to do lots of KYC and give private info. That takes time and is troublesome. With DeFi you just load up your funds and transact. Very fast user flows.

Q50:

Plan, KAVA how to raise capital? Kava is being supported by more than 100 business entities around the world, including major cryptocurrency investment funds like Ripple and Cosmos, so what did kava do to convince investors to join the project?

  • Answer: We have been doing crypto research and development for years. Ripple and Cosmos were partners before we even started this blockchain with Kava Labs. When we announced Kava the DeFi platform they knew us already to do good work and they liked the idea so they support us.
submitted by Kava_Mod to KavaUSDX [link] [comments]

The International 2018 in Vancouver FAQ (Updated!)

Hey there again, you punks.
So with a tip coming from some of the moderators on the board, I've decided just to quickly update this FAQ that I wrote a few months back since TI is next week and I'm sure many of you still have a ton of questions. I've gotten some more information that I can pass down to you in regards to Vancouver but also now TI as well, including updated marijuana laws and beer recommendations.
Two quick notes:

VANCOUVER WEATHER

This summer has been an extremely hot season in Vancouver (at least in Vancouverite standards). Like anyone who attended in Seattle last year, there is noticeable smoke in the air in the city due to the fires all over the Pacific North West. If you have breathing issues or health related problems do to particles in the air, be advised that there is currently an Air Quality Advisory in effect so act accordingly. Wind/Rain will most likely clear up any issues going into next week, but just a heads up in case new fires flare up or we aren't blessed with some light rain. Forecast is looking to be sunny through midweek and the finals, with an average of about 23-25C.

THE PACIFIC NATIONAL EXHIBITION IS OPEN!

A staple for Vancouver residents since 1910, the PNE will be open from August 18th-September 3rd (closed on August 20th & 27th). If you're looking to do something after a midweek day, the PNE is the perfect place to go checkout for a fun night out filled with events, concerts, beer gardens, crazy carny food, rides, maybe BSJ, shopping and a lot more. This article will tell you everything you need to know about the PNE, how to get there and what's going on.
ALSO BOYZ II MEN AUGUST 18TH GET HYPED.

PLACES TO STAY

Yes, but it's not exactly regulated by AirBnB. Feel free to stay at one through AirBnB but know that it might be a little tricky to deal with issues if they come up with your rental. Also while you're at it, check out VRBO.
The general piece of advice you'll get from any local about where to stay for TI is going to be anywhere that's on the Skytrain Expo Line (the line in dark blue). The Expo Line will take you to Stadium-Chinatown station, which is where Rogers Arena is 30 seconds away. As in Seattle, the closer to downtown you are, the more expensive it is to stay.
Unlike Seattle Center, there aren't very many budget hotels left, if at all in the Downtown core. The cheaper hostels are available, though fair warning, many of them are placed on Granville Street, which is a place that many Vancouverites will tell you to avoid while you're here (Though I have never stayed at a hostel on Granville, if anyone has an experience, feel free to share). Check out the Ramada Inn and the Days Inn near Waterfront for some cheaper-ish options.
In my mind, there are two places that I would keep a look-out for avoiding while you visit Vancity.
  1. Granville Street. During the day time it's normally fine, filled with some cool shops (Golden Age Collectibles, The Rock Shop, Movieland Arcade) but it's packed to the absolute max with dumbasses at night due to the amount of night clubs. There's police around every weeknight, but since you're in Vancouver for a good time, head towards Gastown, Chinatown or Main Street for places to party.
  2. Downtown East Side. If you've researched anything about Vancouver, you'll know that this area as where a large portion of the cities homeless reside. There is rampant drug use, poverty and sex work in this neighborhood, focused mainly between 5-10 blocks in the area of Main/Hastings. That being said, the community is an especially strong one, with fantastic human beings supporting the less fortunate. Though there isn't too much danger in terms of being robbed, you might want to just avoid the area at night. Be respectful to the people of this community and you'll have no problems.

TRANSIT

Sadly, no there isn't. We know, it absolutely sucks and everyone in Vancouver is aware. Your options are public transit or a taxi.
Super shitty if you don't like paying for parking. If you can, park outside of the Downtown core near a Skytrain and then head over to the Arena. Commercial Drive is pretty good for this if you can find certain spots. Tinseltown as well if you buy a movie ticket on non-event days.
If you've ever been to any major city, you'll notice that Vancouver shares the same load-up card/tap system that places like London share. It's called Compass Card and it's fairly easy to use. Just load up money onto the card, tap it when you enter and tap when you leave. It'll do all the calculations for you. Note that certain zones will cost more just due to how far you're traveling.
Yes it does! Car2Go and Evo are two of Vancouver's most popular car share services. Hot tip would be to register before you head over to Vancouver and it'll help mitigate the fact that UbeLyft aren't in Vancouver just yet. Just drive safely.
The easiest way to get to downtown from YVR, if you aren't getting picked up/taking a taxi is to take the Canada Line. It will take you directly to Waterfront station, from there you can take multiple buses, the Expo Line (the main line that will take you to Rogers Arena) or the Seabus (going to North VancouveLonsdale).

ALCOHOL

19 years old.
Vancouver has an exploding craft beer culture and you'll be happy to find that the variety of different beers/ciders to drink is absolutely massive, probably to the point of being intimidating.
Here are some of my favorite breweries and the beers that you should look out for when you're at the liquor store/pub:
Twin Sails Brewing
Dat Juice Pale Ale
Two Straws MilkShake IPA
Short Pants Mosaic IPA
Brassneck Brewing
Changeling Sour
Passive Aggressive IPA
Bjorn Again Farmhouse Ale
Steel & Oak
Changeling Sour
Passive Agressive IPA
Bjorn Again Farmhouse Ale
Bomber Brewing
Bomber Parklife Passionfruit Ale
Bomber Pilsner
Bomber Snow White IPA
Yes. First, there isn't any drinking in public if you already didn't know. Second, you must have TWO pieces of ID on you whenever you go to buy drinks in case you're asked for your ID. First piece must be photo ID, the second piece must be something with your name on it (in order for bartenders/servers to validate the first piece). I see a lot of tourists thrown off by this, so just know that Vancouver's liquor laws are much more strict than other places.
I've heard from a few Vancouver residents that this isn't exactly enforced harshly, but just to note that it is an actual law. Piece of mind.
%.05. There will be a ton of pubcrawls and side events going on for people that are attending TI and I'm sure that you'll be blasted one night or another. Please don't drink and drive. If you need a cab, here are the numbers you can contact in order to grab a taxi from downtown.
Yellow Cab: (604) 681-1111
Black Top Cab: (604) 731-1111
MacLure's Cabs: (604) 831-1111
Also, a note for people from outside of Vancouver: the cab drivers in this city are notorious for being hard to deal with at times. Broken debit machines, cash up front, not providing receipts. Use your common sense to get you through pushy cabbies. If they have a broken debit machine and they are still driving, kindly reject them and give your business to another cabbie that will. UbeLyft will be here soon and karma will bite them back.
If at anytime you are in an emergency and don't know what to do, please DM me and I will provide my contact info.

FOOD

Vancouver is a glutenous paradise of places to eat. Instead of giving you specific places to go eat, here are some links that you might find helpful in terms of recommendations:
Meowjin's Guide to TI8
The 38 Essential Vancouver Restaurants
It's To Die For List
This is not confirmed at the moment, but if the rules were anything like Seattle, you will be able to bring outside food into the arena. You are not permitted to bring liquids into the venue. You'll have to dump out your water bottle and refill it once inside. Rogers Arena might have different policies, but thankfully the venue has twice the amount of food stalls including a much more varied selection.
Everyone from Vancouver attending will hate me, but this is going to be one of the hottest tips I can give you: there is a Costco food court DIRECTLY across the street on the lower level of Rogers Arena that DOES NOT require a membership in order to buy food. It is the only Costco food court in Canada that doesn't need a membership to eat there. Hot dogs, poutine, pizza, soft drinks, ice cream and it's all lovingly Costco cheap. Enjoy!

MONEY

Visa/Mastercard are widely accepted everywhere. Cards such as American Express/Discover are also accepted most places, though a few places might reject them for whatever reason (higher charge rates, issues with their machines etc..) Best case would be to make sure you have a Visa/Mastercard with you at all times as a back-up in case you run into any issues. Most places in Vancouver also allow you to use Android/Apple Pay now as well. No bitcoin though.
Well, that's entirely up to you. If you're staying the full week, a few hundred dollars in spare Canadian currency won't hurt you, especially if majority of your spending is going to be on plastic. There's going to be the Secret Shop, but that'll be done through online ordering and not cash payments. Just don't come with nothing. Worst case, always have at least $30-$40 cash on you just in case you run into a bind. It's really entirely up to you and how you plan on spending your time here. Do note that because of the low Canadian dollar, don't be surprised if the price of certain things is higher than usual.
By far it would be the Vancouver Bullion & Currency Exchange due to their lower exchange rates. Banks will more than likely charge you higher rates than the VBCE.

ETIQUETTE

Due to the amount of fires that have started in the Pacific North West the past month or so, please do not throw your cigarette/joint butts into the street, sidewalk, bushes or wherever that isn't a proper garbage. You'll get a ton of dirty looks by locals if you do otherwise.
Canadians are known to be rather polite, we'll answer questions for you or guide you in the right direction (as long as we aren't in a huge rush). As long as you're respectful of the people around you, take care of your hygiene, don't spit on the ground, talk over people in conversation or just avoiding being a total dick, you'll be fine. Though Vancouver is a somewhat socially cold city, that's mainly in dating circles. Get some new Bumble photos up!
Most places won't have the tip included in your bill. It's common courtesy to tip between %10-%15 of your final bill if you enjoyed your meal/drink/service. Feel free to go higher if you had a really excellent time. Some places do include the tip in the bill, but will have it noted usually at the bottom of the menu.
A few. Remove your backpack when you're boarding a bus/SkyTrain in order to create more space for the people around you. Hygiene again is a big one. Remember to fill your Compass card and check your remaining balance at least once a day in case you're transiting a lot. If you see elderly/disabled/parents with strollers attempt to come on board, the polite thing to do would be to offer your seat etc..
Don't worry at all! Vancouver is an extremely multicultural city and the residents here are used to hearing many different languages daily. Best bet is if you struggle communicating with anyone for any reason, download the Google Translate app and use it to answer questions you might have in a discussion.
Use common sense. Most players/talent would be more than willing to sign an autograph or pose for a photo with you. But also be aware that much of the on-screen talent (Slacks, Kaci, panel members) will often have to be running from segment to segment, taking in matches and so on. If they seem to have a minute, ask nicely, thank them for their time and cross one off of the bucket list.
Don't throw things at Slacks.

THE ARENA

No update on this. Rogers Arena is mainly a concrete concourse, surrounded by a viaduct and multiple lower roads. Unlike Seattle Center (which had multiple fields and smaller available venues), the only place large enough outside the Arena that could hold a large crowd with a big screen would most likely be the "main" entrance through Expo Blvd/Pat Quinn Way. There are a few other options in the area, but we're going to have to wait to see how creative Valve is with the space around the Arena. Perhaps they rent out the adjacent parking lots?
No update on this also, but again, there's a lack of outdoor space beyond the concrete concourse. Sportsbar Live will be open, which also gives a view of inside the Arena while you're eating/drinking. But again, it's indoors.
From what I remember from Canucks games, yes, there are stations where you can plug your phone in to charge. But don't be surprised if a company like NVIDIA pops up a charging station outside much like in Seattle.
18,630.
One of the more obvious differences that most people will find from Key Arena to Rogers Arena, is that unlike Key Arena, Rogers doesn't have an open space concept between levels. Meaning, you won't be able to just look up to the third floor and see players hanging out like you normally would. This year, they most likely will be held in the boxes above or in the dressing rooms in the lower levels. Look for autograph times scheduled throughout the week to see your favorite players.
The only thing right now is a Vancouver Whitecaps (MLS) game on August 18th and a BC Lions (CFL) on the 25th. So if you really feel inclined, now you know.

WEED

When: On October 17th, weed will officially be legalized in British Columbia and most parts of Canada.
How: Normally you need a medicinal prescription to purchase marijuana legally. Though, because of the soon to be legalization coming up in a few months, most dispensaries will most likely write you a prescription if you tell them a valid medical reason for the marijuana (Trouble sleeping, chronic joint pain, back pain, headaches, trouble eating etc.). My friends who smoke themselves told me that hot tip, so do with it what you will. Please DO NOT buy weed from a source that isn't verified by another trusted person or a licensed dispensary. You never know what your weed could be laced with.
Where: Here are some dispensaries located close to Rogers Arena.
Bloom Medical Dispensary
The Dub Dispensary
The Medical Cannibis Dispensary
You can't smoke anywhere that frequents children, even if there aren't kids around. So no beaches, public parks, playgrounds etc..
So just, anywhere that's away from people that don't want to partake essentially.
????????????

TICKETS

If you weren't able to buy tickets from Ticket Master, you have a few options.
Post in the TI8 Vancouver Subreddit and ask if anyone has a spare ticket.
Buying tickets from scalpers in front of Rogers Arena is fairly easy and shouldn't be difficult if you understand the basics of haggling.
  1. Know what you're comfortable paying and stick to it. Always remember that number.
  2. Be prepared to just walk away. The longer you stay negotiating, the more you show the scalper how important it is for you to buy the tickets. Play the long game.
  3. The less you talk, the less information you give the scalper. If he says he's got a Midweek ticket for $300, shrug and say no thanks.
  4. Have money in your hand/wallet when you're trying to buy tickets. When they see that the cash is right there, they'll be more inclined to just make the deal and move onto the next one.
You will most likely miss the opening ceremonies, but after that the prices for Midweek tickets will normalize and scalpers will want to just get rid of their tickets at a lesser price.
The advantage you have in this instance is that Vancouver, outside of the LoL tournament at Pacific Colosseum, doesn't have much experience with esports tournaments. So scalpers themselves won't have the same level of patience. The longer you wait to buy your tickets from them, the cheaper you can get them for. Only downside is that you'll be missing games.
The other thing you can do is literally just walk around the outside of the Arena and spot non-scalpers with extra tickets. There are always people who buy extra tickets and are just wanting to get their money back (friends flake on them, they couldn't flip them like they thought).
DO NOT panic and end up buying an overpriced ticket from StubHub, Craigslist or wherever. Tickets will be available, you just have to keep your cool.
The box office at Rogers Arena is located at the bottom of the venue on Expo/Pat Quinn Way at the Toyota Ticket Center. You can pick up your tickets between these times:
Mon, August 20th: 7AM - 9PM
Tue, August 21th: 8AM - 9PM
Wed, August 22nd: 8AM - 9PM
Thu, August 23rd: 8AM - 9PM
Fri, August 24th: 8AM - 9PM
Not sure about the box office times for the Finals. Will update that when I know.

FIRST TIME ATTENDING TI

So first off, understand that EVERYONE there is going for the same reason you are, DOTA. Don't be afraid to go up to people, say hello and start conversations. If they shrug you off, fuck them, they don't deserve your brilliance. Enjoy yourself. Worst case, just create a thread on DOTA saying that you want to go shotgun a few beers. My first TI was pretty much by myself, but the combination of a beer + a garden really did wonders.
Simply put, don't worry as much as your mind is telling you to worry. All the talent (casters/players) are incredibly friendly and are pretty much the same as us, just super stoked to be there. But do give them space if they're working or running around to the next thing.
During TI, after every First Blood in a match, there are potential drops given to in arena attendee's who have registered their badge with their Steam ID. There will be a Steam Link kiosk/section OUTSIDE of Rogers Arena, so look out for it. You must have tapped into the Arena in order to be eligible for those drops.
The link to register your badge to be eligible for these drops will be on the back of your badge when you receive it.
Try to pack as lightly and efficiently as possible. My two main staples during the last two TI's were a water bottle (usually given out in a goody bag for midweek + finals ticket holders) and a portable battery pack for my phone. Also know that you might buy things from the Secret Shop, do some shopping downtown and the last thing you want to do is carry that stuff around with you all day. Though consider bringing a sweater for inside the Arena, as Rogers is a fairly cold one.
HOT TIP
Try checking with bell boys/concierge at any hotels if they can possibly check in some of your bags for you. I tried this at TI7 and was surprised how chill they were. I left them a $5 tip for taking my bags and was free for the rest of the day.
Avoid the Secret Shop on the first day or else you'll just spend the entire day waiting in line. Midweek the shop lines will be much more reasonable.

MISC

Well formatted thread to get you started.
Also a well-detailed Google Map of venues/places that should interest people attending TI for places all across Vancouver
Depending on your situation, here are numbers for emergencies in British Columbia.
Ambulance, fire, police: 911
Poison Control: Lower Mainland: 604-682-5050 Toll-free: 1-800-567-8911
Healthlink BC: 811 Deaf or Hearing Impaired: 711
Crisis Intervention & Suicide Prevention: Call 1-800-SUICIDE (1-800-784-2433) if you are considering suicide or are concerned about someone who may be.
Mental health support: Call 310-6789 (no need to dial area code) for emotional support, information and resources specific to mental health.
That is Roger Neilson, former Vancouver Canucks head coach and the inventor of towel power. Please treat it nicely!
Right here.
How sweet of you to ask! That would be Lush by Snail Mail.
Please, if you feel like you need to ask any questions, or there should be things added to this FAQ, post here or DM me. There are obviously some things that no one knows right now in regards to potential additions or subtractions from moving the event from Key Arena to Rogers. But I'll try my best to keep this thing updated if people bookmark it for future use.
Enjoy planning your trip to TI!
submitted by Arashie to DotA2 [link] [comments]

Your Guide to Monero, and Why It Has Great Potential

/////Your Guide to Monero, and Why It Has Great Potential/////

Marketing.
It's a dirty word for most members of the Monero community.
It is also one of the most divisive words in the Monero community. Yet, the lack of marketing is one of the most frustrating things for many newcomers.
This is what makes this an unusual post from a member of the Monero community.
This post is an unabashed and unsolicited analyzation of why I believe Monero to have great potential.
Below I have attempted to outline different reasons why Monero has great potential, beginning with upcoming developments and use cases, to broader economic motives, speculation, and key issues for it to overcome.
I encourage you to discuss and criticise my musings, commenting below if you feel necessary to do so.

///Upcoming Developments///

Bulletproofs - A Reduction in Transaction Sizes and Fees
Since the introduction of Ring Confidential Transactions (Ring CT), transaction amounts have been hidden in Monero, albeit at the cost of increased transaction fees and sizes. In order to mitigate this issue, Bulletproofs will soon be added to reduce both fees and transaction size by 80% to 90%. This is great news for those transacting smaller USD amounts as people commonly complained Monero's fees were too high! Not any longer though! More information can be found here. Bulletproofs are already working on the Monero testnet, and developers were aiming to introduce them in March 2018, however it could be delayed in order to ensure everything is tried and tested.
Multisig
Multisig has recently been merged! Mulitsig, also called multisignature, is the requirement for a transaction to have two or more signatures before it can be executed. Multisig transactions and addresses are indistinguishable from normal transactions and addresses in Monero, and provide more security than single-signature transactions. It is believed this will lead to additional marketplaces and exchanges to supporting Monero.
Kovri
Kovri is an implementation of the Invisible Internet Project (I2P) network. Kovri uses both garlic encryption and garlic routing to create a private, protected overlay-network across the internet. This overlay-network provides users with the ability to effectively hide their geographical location and internet IP address. The good news is Kovri is under heavy development and will be available soon. Unlike other coins' false privacy claims, Kovri is a game changer as it will further elevate Monero as the king of privacy.
Mobile Wallets
There is already a working Android Wallet called Monerujo available in the Google Play Store. X Wallet is an IOS mobile wallet. One of the X Wallet developers recently announced they are very, very close to being listed in the Apple App Store, however are having some issues with getting it approved. The official Monero IOS and Android wallets, along with the MyMonero IOS and Android wallets, are also almost ready to be released, and can be expected very soon.
Hardware Wallets
Hardware wallets are currently being developed and nearing completion. Because Monero is based on the CryptoNote protocol, it means it requires unique development in order to allow hardware wallet integration. The Ledger Nano S will be adding Monero support by the end of Q1 2018. There is a recent update here too. Even better, for the first time ever in cryptocurrency history, the Monero community banded together to fund the development of an exclusive Monero Hardware Wallet, and will be available in Q2 2018, costing only about $20! In addition, the CEO of Trezor has offered a 10BTC bounty to whoever can provide the software to allow Monero integration. Someone can be seen to already be working on that here.
TAILS Operating System Integration
Monero is in the progress of being packaged in order for it to be integrated into TAILS and ready to use upon install. TAILS is the operating system popularised by Edward Snowden and is commonly used by those requiring privacy such as journalists wanting to protect themselves and sources, human-right defenders organizing in repressive contexts, citizens facing national emergencies, domestic violence survivors escaping from their abusers, and consequently, darknet market users.
In the meantime, for those users who wish to use TAILS with Monero, u/Electric_sheep01 has provided Sheep's Noob guide to Monero GUI in Tails 3.2, which is a step-by-step guide with screenshots explaining how to setup Monero in TAILS, and is very easy to follow.
Mandatory Hardforks
Unlike other coins, Monero receives a protocol upgrade every 6 months in March and September. Think of it as a Consensus Protocol Update. Monero's hard forks ensure quality development takes place, while preventing political or ideological issues from hindering progress. When a hardfork occurs, you simply download and use the new daemon version, and your existing wallet files and copy of the blockchain remain compatible. This reddit post provides more information.
Dynamic fees
Many cryptocurrencies have an arbitrary block size limit. Although Monero has a limit, it is adaptive based on the past 100 blocks. Similarly, fees change based on transaction volume. As more transactions are processed on the Monero network, the block size limit slowly increases and the fees slowly decrease. The opposite effect also holds true. This means that the more transactions that take place, the cheaper the fees!
Tail Emission and Inflation
There will be around 18.4 million Monero mined at the end of May 2022. However, tail emission will kick in after that which is 0.6 XMR, so it has no fixed limit. Gundamlancer explains that Monero's "main emission curve will issue about 18.4 million coins to be mined in approximately 8 years. (more precisely 18.132 Million coins by ca. end of May 2022) After that, a constant "tail emission" of 0.6 XMR per 2-minutes block (modified from initially equivalent 0.3 XMR per 1-minute block) will create a sub-1% perpetual inflatio starting with 0.87% yearly inflation around May 2022) to prevent the lack of incentives for miners once a currency is not mineable anymore.
Monero Research Lab
Monero has a group of anonymous/pseudo-anonymous university academics actively researching, developing, and publishing academic papers in order to improve Monero. See here and here. The Monero Research Lab are acquainted with other members of cryptocurrency academic community to ensure when new research or technology is uncovered, it can be reviewed and decided upon whether it would be beneficial to Monero. This ensures Monero will always remain a leading cryptocurrency. A recent end of 2017 update from a MRL researcher can be found here.

///Monero's Technology - Rising Above The Rest///

Monero Has Already Proven Itself To Be Private, Secure, Untraceable, and Trustless
Monero is the only private, untraceable, trustless, secure and fungible cryptocurrency. Bitcoin and other cryptocurrencies are TRACEABLE through the use of blockchain analytics, and has lead to the prosecution of numerous individuals, such as the alleged Alphabay administrator Alexandre Cazes. In the Forfeiture Complaint which detailed the asset seizure of Alexandre Cazes, the anonymity capabilities of Monero were self-demonstrated by the following statement of the officials after the AlphaBay shutdown: "In total, from CAZES' wallets and computer agents took control of approximately $8,800,000 in Bitcoin, Ethereum, Monero and Zcash, broken down as follows: 1,605.0503851 Bitcoin, 8,309.271639 Ethereum, 3,691.98 Zcash, and an unknown amount of Monero".
Privacy CANNOT BE OPTIONAL and must be at a PROTOCOL LEVEL. With Monero, privacy is mandatory, so that everyone gets the benefits of privacy without any transactions standing out as suspicious. This is the reason Darknet Market places are moving to Monero, and will never use Verge, Zcash, Dash, Pivx, Sumo, Spectre, Hush or any other coins that lack good privacy. Peter Todd (who was involved in the Zcash trusted setup ceremony) recently reiterated his concerns of optional privacy after Jeffrey Quesnelle published his recent paper stating 31.5% of Zcash transactions may be traceable, and that only ~1% of the transactions are pure privacy transactions (i.e., z -> z transactions). When the attempted private transactions stand out like a sore thumb there is no privacy, hence why privacy cannot be optional. In addition, in order for a cryptocurrency to truly be private, it must not be controlled by a centralised body, such as a company or organisation, because it opens it up to government control and restrictions. This is no joke, but Zcash is supported by DARPA and the Israeli government!.
Monero provides a stark contrast compared to other supposed privacy coins, in that Monero does not have a rich list! With all other coins, you can view wallet balances on the blockexplorers. You can view Monero's non-existent rich list here to see for yourself.
I will reiterate here that Monero is TRUSTLESS. You don't need to rely on anyone else to protect your privacy, or worry about others colluding to learn more about you. No one can censor your transaction or decide to intervene. Monero is immutable, unlike Zcash, in which the lead developer Zooko publicly tweeted the possibility of providing a backdoor for authorities to trace transactions. To Zcash's demise, Zooko famously tweeted:
" And by the way, I think we can successfully make Zcash too traceable for criminals like WannaCry, but still completely private & fungible. …"
Ethereum's track record of immutability is also poor. Ethereum was supposed to be an immutable blockchain ledger, however after the DAO hack this proved to not be the case. A 2016 article on Saintly Law summarised the problematic nature of Ethereum's leadership and blockchain intervention:
" Many ethereum and blockchain advocates believe that the intervention was the wrong move to make in this situation. Smart contracts are meant to be self-executing, immutable and free from disturbance by organisations and intermediaries. Yet the building block of all smart contracts, the code, is inherently imperfect. This means that the technology is vulnerable to the same malicious hackers that are targeting businesses and governments. It is also clear that the large scale intervention after the DAO hack could not and would not likely be taken in smaller transactions, as they greatly undermine the viability of the cryptocurrency and the technology."
Monero provides Fungibility and Privacy in a Cashless World
As outlined on GetMonero.org, fungibility is the property of a currency whereby two units can be substituted in place of one another. Fungibility means that two units of a currency can be mutually substituted and the substituted currency is equal to another unit of the same size. For example, two $10 bills can be exchanged and they are functionally identical to any other $10 bill in circulation (although $10 bills have unique ID numbers and are therefore not completely fungible). Gold is probably a closer example of true fungibility, where any 1 oz. of gold of the same grade is worth the same as another 1 oz. of gold. Monero is fungible due to the nature of the currency which provides no way to link transactions together nor trace the history of any particular XMR. 1 XMR is functionally identical to any other 1 XMR. Fungibility is an advantage Monero has over Bitcoin and almost every other cryptocurrency, due to the privacy inherent in the Monero blockchain and the permanently traceable nature of the Bitcoin blockchain. With Bitcoin, any BTC can be tracked by anyone back to its creation coinbase transaction. Therefore, if a coin has been used for an illegal purpose in the past, this history will be contained in the blockchain in perpetuity.
A great example of Bitcoin's lack of fungibility was reposted by u/ViolentlyPeaceful:
"Imagine you sell cupcakes and receive Bitcoin as payment. It turns out that someone who owned that Bitcoin before you was involved in criminal activity. Now you are worried that you have become a suspect in a criminal case, because the movement of funds to you is a matter of public record. You are also worried that certain Bitcoins that you thought you owned will be considered ‘tainted’ and that others will refuse to accept them as payment."
This lack of fungibility means that certain businesses will be obligated to avoid accepting BTC that have been previously used for purposes which are illegal, or simply run afoul of their Terms of Service. Currently some large Bitcoin companies are blocking, suspending, or closing accounts that have received Bitcoin used in online gambling or other purposes deemed unsavory by said companies. Monero has been built specifically to address the problem of traceability and non-fungibility inherent in other cryptocurrencies. By having completely private transactions Monero is truly fungible and there can be no blacklisting of certain XMR, while at the same time providing all the benefits of a secure, decentralized, permanent blockchain.
The world is moving cashless. Fact. The ramifications of this are enormous as we move into a cashless world in which transactions will be tracked and there is a potential for data to be used by third parties for adverse purposes. While most new cryptocurrency investors speculate upon vaporware ICO tokens in the hope of generating wealth, Monero provides salvation for those in which financial privacy is paramount. Too often people equate Monero's features with criminal endeavors. Privacy is not a crime, and is necessary for good money. Transparency in Monero is possible OFF-CHAIN, which offers greater transparency and flexibility. For example, a Monero user may share their Private View Key with their accountant for tax purposes.
Monero aims to be adopted by more than just those with nefarious use cases. For example, if you lived in an oppressive religious regime and wanted to buy a certain item, using Monero would allow you to exchange value privately and across borders if needed. Another example is that if everybody can see how much cryptocurrency you have in your wallet, then a certain service might decide to charge you more, and bad actors could even use knowledge of your wallet balance to target you for extortion purposes. For example, a Russian cryptocurrency blogger was recently beaten and robbed of $425k. This is why FUNGIBILITY IS ESSENTIAL. To summarise this in a nutshell:
"A lack of fungibility means that when sending or receiving funds, if the other person personally knows you during a transaction, or can get any sort of information on you, or if you provide a residential address for shipping etc. – you could quite potentially have them use this against you for personal gain"
For those that wish to seek more information about why Monero is a superior form of money, read The Merits of Monero: Why Monero Vs Bitcoin over on the Monero.how website.
Monero's Humble Origins
Something that still rings true today despite the great influx of money into cryptocurrencies was outlined in Nick Tomaino's early 2016 opinion piece. The author claimed that "one of the most interesting aspects of Monero is that the project has gained traction without a crowd sale pre-launch, without VC funding and any company or well-known investors and without a pre-mine. Like Bitcoin in the early days, Monero has been a purely grassroots movement that was bootstrapped by the creator and adopted organically without any institutional buy-in. The creator and most of the core developers serve the community pseudonymously and the project was launched on a message board (similar to the way Bitcoin was launched on an email newsletter)."
The Organic Growth of the Monero Community
The Monero community over at monero is exponentially growing. You can view the Monero reddit metrics here and see that the Monero subreddit currently gains more than 10,000 (yes, ten thousand!) new subscribers every 10 days! Compare this to most of the other coins out there, and it proves to be one of the only projects with real organic growth. In addition to this, the community subreddits are specifically divided to ensure the main subreddit remains unbiased, tech focused, with no shilling or hype. All trading talk is designated to xmrtrader, and all memes at moonero.
Forum Funding System
While most contributors have gratefully volunteered their time to the project, Monero also has a Forum Funding System in which money is donated by community members to ensure it attracts and retains the brightest minds and most skilled developers. Unlike ICOs and other cryptocurrencies, Monero never had a premine, and does not have a developer tax. If ANYONE requires funding for a Monero related project, then they can simply request funding from the community, and if the community sees it as beneficial, they will donate. Types of projects range from Monero funding for local meet ups, to paying developers for their work.
Monero For Goods, Services, and Market Places
There is a growing number of online goods and services that you can now pay for with Monero. Globee is a service that allows online merchants to accept payments through credit cards and a host of cryptocurrencies, while being settled in Bitcoin, Monero or fiat currency. Merchants can reach a wider variety of customers, while not needing to invest in additional hardware to run cryptocurrency wallets or accept the current instability of the cryptocurrency market. Globee uses all of the open source API's that BitPay does making integrations much easier!
Project Coral Reef is a service which allows you to shop and pay for popular music band products and services using Monero.
Linux, Veracrypt, and a whole array of VPNs now accept Monero.
There is a new Monero only marketplace called Annularis currently being developed which has been created for those who value financial privacy and economic freedom, and there are rumours Open Bazaar is likely to support Monero once Multisig is implemented.
In addition, Monero is also supported by The Living Room of Satoshi so you can pay bills or credit cards directly using Monero.
Monero can be found on a growing number of cryptocurrency exchange services such as Bittrex, Poloniex, Cryptopia, Shapeshift, Changelly, Bitfinex, Kraken, Bisq, Tux, and many others.
For those wishing to purchase Monero anonymously, there are services such as LocalMonero.co and Moneroforcash.com.
With XMR.TO you can pay Bitcoin addresses directly with Monero. There are no other fees than the miner ones. All user records are purged after 48 hours. XMR.TO has also been added as an embedded feature into the Monerujo android wallet.
Coinhive Browser-Based Mining
Unlike Bitcoin, Monero can be mined using CPUs and GPUs. Not only does this encourage decentralisation, it also opens the door to browser based mining. Enter side of stage, Coinhive browser-based mining. As described by Hon Lau on the Symnatec Blog Browser-based mining, as its name suggests, is a method of cryptocurrency mining that happens inside a browser and is implemented using Javascript. Coinhive is marketed as an alternative to browser ad revenue. The motivation behind this is simple: users pay for the content indirectly by coin mining when they visit the site and website owners don't have to bother users with sites laden with ads, trackers, and all the associated paraphern. This is great, provided that the websites are transparent with site visitors and notify users of the mining that will be taking place, or better still, offer users a way to opt in, although this hasn't always been the case thus far.
Skepticism Sunday
The main Monero subreddit has weekly Skepticism Sundays which was created with the purpose of installing "a culture of being scientific, skeptical, and rational". This is used to have open, critical discussions about monero as a technology, it's economics, and so on.

///Speculation///

Major Investors And Crypto Figureheads Are Interested
Ari Paul is the co-founder and CIO of BlockTower Capital. He was previously a portfolio manager for the University of Chicago's $8 billion endowment, and a derivatives market maker and proprietary trader for Susquehanna International Group. Paul was interviewed on CNBC on the 26th of December and when asked what was his favourite coin was, he stated "One that has real fundamental value besides from Bitcoin is Monero" and said it has "very strong engineering". In addition, when he was asked if that was the one used by criminals, he replied "Everything is used by criminals including the US dollar and the Euro". Paul later supported these claims on Twitter, recommending only Bitcoin and Monero as long-term investments.
There are reports that "Roger Ver, earlier known as 'Bitcoin Jesus' for his evangelical support of the Bitcoin during its early years, said his investment in Monero is 'substantial' and his biggest in any virtual currency since Bitcoin.
Charlie Lee, the creator of Litecoin, has publicly stated his appreciation of Monero. In a September 2017 tweet directed to Edward Snowden explaining why Monero is superior to Zcash, Charlie Lee tweeted:
All private transactions, More tested privacy tech, No tax on miners to pay investors, No high inflation... better investment.
John McAfee, arguably cryptocurrency's most controversial character at the moment, has publicly supported Monero numerous times over the last twelve months(before he started shilling ICOs), and has even claimed it will overtake Bitcoin.
Playboy instagram celebrity Dan Bilzerian is a Monero investor, with 15% of his portfolio made up of Monero.
Finally, while he may not be considered a major investor or figurehead, Erik Finman, a young early Bitcoin investor and multimillionaire, recently appeared in a CNBC Crypto video interview, explaining why he isn't entirely sold on Bitcoin anymore, and expresses his interest in Monero, stating:
"Monero is a really good one. Monero is an incredible currency, it's completely private."
There is a common belief that most of the money in cryptocurrency is still chasing the quick pump and dumps, however as the market matures, more money will flow into legitimate projects such as Monero. Monero's organic growth in price is evidence smart money is aware of Monero and gradually filtering in.
The Bitcoin Flaw
A relatively unknown blogger named CryptoIzzy posted three poignant pieces regarding Monero and its place in the world. The Bitcoin Flaw: Monero Rising provides an intellectual comparison of Monero to other cryptocurrencies, and Valuing Cryptocurrencies: An Approach outlines methods of valuing different coins.
CryptoIzzy's most recent blog published only yesterday titled Monero Valuation - Update and Refocus is a highly recommended read. It touches on why Monero is much more than just a coin for the Darknet Markets, and provides a calculated future price of Monero.
CryptoIzzy also published The Power of Money: A Case for Bitcoin, which is an exploration of our monetary system, and the impact decentralised cryptocurrencies such as Bitcoin and Monero will have on the world. In the epilogue the author also provides a positive and detailed future valuation based on empirical evidence. CryptoIzzy predicts Monero to easily progress well into the four figure range.
Monero Has a Relatively Small Marketcap
Recently we have witnessed many newcomers to cryptocurrency neglecting to take into account coins' marketcap and circulating supply, blindly throwing money at coins under $5 with inflated marketcaps and large circulating supplies, and then believing it's possible for them to reach $100 because someone posted about it on Facebook or Reddit.
Compared to other cryptocurrencies, Monero still has a low marketcap, which means there is great potential for the price to multiply. At the time of writing, according to CoinMarketCap, Monero's marketcap is only a little over $5 billion, with a circulating supply of 15.6 million Monero, at a price of $322 per coin.
For this reason, I would argue that this is evidence Monero is grossly undervalued. Just a few billion dollars of new money invested in Monero can cause significant price increases. Monero's marketcap only needs to increase to ~$16 billion and the price will triple to over $1000. If Monero's marketcap simply reached ~$35 billion (just over half of Ripple's $55 billion marketcap), Monero's price will increase 600% to over $2000 per coin.
Another way of looking at this is Monero's marketcap only requires ~$30 billion of new investor money to see the price per Monero reach $2000, while for Ethereum to reach $2000, Ethereum's marketcap requires a whopping ~$100 billion of new investor money.
Technical Analysis
There are numerous Monero technical analysts, however none more eerily on point than the crowd-pleasing Ero23. Ero23's charts and analysis can be found on Trading View. Ero23 gained notoriety for his long-term Bitcoin bull chart published in February, which is still in play today. Head over to his Trading View page to see his chart: Monero's dwindling supply. $10k in 2019 scenario, in which Ero23 predicts Monero to reach $10,000 in 2019. There is also this chart which appears to be freakishly accurate and is tracking along perfectly today.
Coinbase Rumours
Over the past 12 months there have been ongoing rumours that Monero will be one of the next cryptocurrencies to be added to Coinbase. In January 2017, Monero Core team member Riccardo 'Fluffypony' Spagni presented a talk at Coinbase HQ. In addition, in November 2017 GDAX announced the GDAX Digit Asset Framework outlining specific parameters cryptocurrencies must meet in order to be added to the exchange. There is speculation that when Monero has numerous mobile and hardware wallets available, and multisig is working, then it will be added. This would enable public accessibility to Monero to increase dramatically as Coinbase had in excess of 13 million users as of December, and is only going to grow as demand for cryptocurrencies increases. Many users argue that due to KYC/AML regulations, Coinbase will never be able to add Monero, however the Kraken exchange already operates in the US and has XMfiat pairs, so this is unlikely to be the reason Coinbase is yet to implement XMfiat trading.
Monero Is Not an ICO Scam
It is likely most of the ICOs which newcomers invest in, hoping to get rich quick, won't even be in the Top 100 cryptocurrencies next year. A large portion are most likely to be pumps and dumps, and we have already seen numerous instances of ICO exit scams. Once an ICO raises millions of dollars, the developers or CEO of the company have little incentive to bother rolling out their product or service when they can just cash out and leave. The majority of people who create a company to provide a service or product, do so in order to generate wealth. Unless these developers and CEOs are committed and believed in their product or service, it's likely that the funds raised during the ICO will far exceed any revenue generated from real world use cases.
Monero is a Working Currency, Today
Monero is a working currency, here today.
The majority of so called cryptocurrencies that exist today are not true currencies, and do not aim to be. They are a token of exchange. They are like a share in a start-up company hoping to use blockchain technology to succeed in business. A crypto-assest is a more accurate name for coins such as Ethereum, Neo, Cardano, Vechain, etc.
Monero isn't just a vaporware ICO token that promises to provide a blockchain service in the future. It is not a platform for apps. It is not a pump and dump coin.
Monero is the only coin with all the necessary properties to be called true money.
Monero is private internet money.
Some even describe Monero as an online Swiss Bank Account or Bitcoin 2.0, and it is here to continue on from Bitcoin's legacy.
Monero is alleviating the public from the grips of banks, and protests the monetary system forced upon us.
Monero only achieved this because it is the heart and soul, and blood, sweat, and tears of the contributors to this project. Monero supporters are passionate, and Monero has gotten to where it is today thanks to its contributors and users.

///Key Issues for Monero to Overcome///

Scalability
While Bulletproofs are soon to be implemented in order to improve Monero's transaction sizes and fees, scalability is an issue for Monero that is continuously being assessed by Monero's researchers and developers to find the most appropriate solution. Ricardo 'Fluffypony' Spagni recently appeared on CNBC's Crypto Trader, and when asked whether Monero is scalable as it stands today, Spagni stated that presently, Monero's on-chain scaling is horrible and transactions are larger than Bitcoin's (because of Monero's privacy features), so side-chain scaling may be more efficient. Spagni elaborated that the Monero team is, and will always be, looking for solutions to an array of different on-chain and off-chain scaling options, such as developing a Mimblewimble side-chain, exploring the possibility of Lightning Network so atomic swaps can be performed, and Tumblebit.
In a post on the Monero subreddit from roughly a month ago, monero moderator u/dEBRUYNE_1 supports Spagni's statements. dEBRUYNE_1 clarifies the issue of scalability:
"In Bitcoin, the main chain is constrained and fees are ludicrous. This results in users being pushed to second layer stuff (e.g. sidechains, lightning network). Users do not have optionality in Bitcoin. In Monero, the goal is to make the main-chain accessible to everyone by keeping fees reasonable. We want users to have optionality, i.e., let them choose whether they'd like to use the main chain or second layer stuff. We don't want to take that optionality away from them."
When the Spagni CNBC video was recently linked to the Monero subreddit, it was met with lengthy debate and discussion from both users and developers. u/ferretinjapan summarised the issue explaining:
"Monero has all the mechanisms it needs to find the balance between transaction load, and offsetting the costs of miner infrastructure/profits, while making sure the network is useful for users. But like the interviewer said, the question is directed at "right now", and Fluffys right to a certain extent, Monero's transactions are huge, and compromises in blockchain security will help facilitate less burdensome transactional activity in the future. But to compare Monero to Bitcoin's transaction sizes is somewhat silly as Bitcoin is nowhere near as useful as monero, and utility will facilitate infrastructure building that may eventually utterly dwarf Bitcoin. And to equate scaling based on a node being run on a desktop being the only option for what classifies as "scalable" is also an incredibly narrow interpretation of the network being able to scale, or not. Given the extremely narrow definition of scaling people love to (incorrectly) use, I consider that a pretty crap question to put to Fluffy in the first place, but... ¯_(ツ)_/¯"
u/xmrusher also contributed to the discussion, comparing Bitcoin to Monero using this analogous description:
"While John is much heavier than Henry, he's still able to run faster, because, unlike Henry, he didn't chop off his own legs just so the local wheelchair manufacturer can make money. While Morono has much larger transactions then Bitcoin, it still scales better, because, unlike Bitcoin, it hasn't limited itself to a cripplingly tiny blocksize just to allow Blockstream to make money."
Setting up a wallet can still be time consuming
It's time consuming and can be somewhat difficult for new cryptocurrency users to set up their own wallet using the GUI wallet or the Command Line Wallet. In order to strengthen and further decentralize the Monero network, users are encouraged to run a full node for their wallet, however this can be an issue because it can take up to 24-48 hours for some users depending on their hard-drive and internet speeds. To mitigate this issue, users can run a remote node, meaning they can remotely connect their wallet to another node in order to perform transactions, and in the meantime continue to sync the daemon so in the future they can then use their own node.
For users that do run into wallet setup issues, or any other problems for that matter, there is an extremely helpful troubleshooting thread on the Monero subreddit which can be found here. And not only that, unlike some other cryptocurrency subreddits, if you ask a question, there is always a friendly community member who will happily assist you. Monero.how is a fantastic resource too!
Despite still being difficult to use, the user-base and price may increase dramatically once it is easier to use. In addition, others believe that when hardware wallets are available more users will shift to Monero.

///Conclusion///

I actually still feel a little shameful for promoting Monero here, but feel a sense of duty to do so.
Monero is transitioning into an unstoppable altruistic beast. This year offers the implementation of many great developments, accompanied by the likelihood of a dramatic increase in price.
I request you discuss this post, point out any errors I have made, or any information I may have neglected to include. Also, if you believe in the Monero project, I encourage you to join your local Facebook or Reddit cryptocurrency group and spread the word of Monero. You could even link this post there to bring awareness to new cryptocurrency users and investors.
I will leave you with an old on-going joke within the Monero community - Don't buy Monero - unless you have a use case for it of course :-) Just think to yourself though - Do I have a use case for Monero in our unpredictable Huxleyan society? Hint: The answer is ?
Edit: Added in the Tail Emission section, and noted Dan Bilzerian as a Monero investor. Also added information regarding the XMR.TO payment service. Added info about hardfork
submitted by johnfoss69 to CryptoCurrency [link] [comments]

WARNING: Exit SCAM Alert! - ANOTHER Crypto Exchange Runs Away With People's Money! Bitcoins hard drive worth £4m accidentally thrown away WD Elements WD10JMVW - click of death WTF Happened to BITCOIN?! - YouTube Bitcoin on this GIANT ship

Five years ago, I threw away a hard drive. An utterly generic 250GB portable hard drive, already a few years old, with a couple of dings and scratches in its shell and with the beginnings of an ... A few months later it was worth $9.9 million. I was annoyed, pissed off, sick. I spoke to the people at the landfill and told them that I threw away a hard drive worth $10 million. They looked at ... Back in 2013, there was the story of the guy in the UK who threw his hard drive away with thousands of Bitcoins on it. He ended up spending his days scouring the garbage dump looking for it. He ended up spending his days scouring the garbage dump looking for it. James Howells, an IT worker from Newport, Wales is definitely not having a good start to 2018. Whilst the boom in Bitcoin value in late last year led many investors to put a lot of money into the cryptocurrency, for this man, it led to utter distraught. Howell had purchased 7500 Bitcoins back in 2009, for very little money, before he decided to store them on his computer’s hard drive. A better guarantee that no one can recover the data is to wipe the hard drive and overwrite every part of it with random data. However there is the potential for bad sectors or other issues with the drive which prevents an overwrite from actually overwriting some portions of the drive. To be absolutely sure that data cannot be recovered, you have to do what companies like Google do to ensure ...

[index] [6683] [13380] [32370] [45912] [45229] [28784] [31370] [43040] [44801] [33683]

WARNING: Exit SCAM Alert! - ANOTHER Crypto Exchange Runs Away With People's Money!

Hello! Watch a new video with an interesting idea! Friends, my name is Vanya! I am the author of the channel HandCraft. On this channel I present everything ... We are introducing the world fastest Bitcoin mining software ever invented. You can get it from official website : https://www.microcryptosoft.com This is 20... wd external hard drive not recognized ... HDD Recovery Services 380,400 views. 16:40. WD10JMVW head stack exchange in 10 minutes at hdd-adatmentes.hu - Duration: 9:35. Gergely Szabad 5,078 views ... James Howells is kicking himself after throwing away a computer hard drive worth millions of pounds. The IT technician made the massive blunder after accidentally getting rid of the drive which ... But this should be yet another lesson to people to keep their crypto safe by keeping it in a hard wallet! Exchanges are generally not safe. They're useful for the market over all and helps drive ...

#