Daily Crypto Nooooooz

[indiamikezulu]

HF BULLETIN TWELVE: https://icodaily.net/2017/11/06/why-segwit2x-is-bound-to-fail/                      Campers, this article is worth more than all the others combined. Hands down the best.          Meanwhile: 'Right now over 84.9 percent of the Bitcoin network's miners are signaling their intentions to support Segwit2x.' https://news.bitcoin.com/fork-watch-the-chain-with-less-hashrate-could-come-to-a-screeching-halt/                                         And me read this later: https://cointelegraph.com/news/a-couple-of-vcs-and-ceos-whalepanda-delivers-final-verdict-on-segwit2x

[indiamikezulu]

'Then you have the samourai wallet which has stealth address built in. For the privacy concerned and a tor wallet.'

Gonna give these a try in coming months.

And the hard fork? I sense that everyone is just tired, can't wait, counting the sleeps 'til it happens.

But the HF seems to be bringing love to other GRS pairs. We have two GRS-ETH pairs. Got DOGE and LTC on Cryptopia. Coinexchange and Livecoin both have over five grand in volume. If you are patient, you can pick up small amounts of cheap coin by following the markets on these two. [And if you are learning to trade, these low-volume exchanges are much better to work with.]

[indiamikezulu]

Practising brief

I have been wrong about the time-frame of economic collapse. By years. But heck, who could have guessed that All Economic Theory would be dumped?

Whatever, the system – the entire global economy -- is 'in levitation' with various modes of funny-money-printing.

Was QE biggie biggie big big.

And blah blah blah.

But this is debt creation gone stark staring bonkers:

U.S. Govvamern gonna bail out pension funds:

'Sen. Sherrod Brown, D-Ohio, plans to introduce legislation that would allow struggling multiemployer pension funds to borrow from the U.S. Treasury to remain solvent.'

http://www.pionline.com/article/20171107/ONLINE/171109874/sen-sherrod-brown-to-unveil-multiemployer-loan-program-legislation

[indiamikezulu]

http://www.groestlcoin.org/downloads/

Will explore this today. Well done, devs and community!

[indiamikezulu]

http://www.zerohedge.com/news/2017-11-07/perpetual-notes-chinas-new-way-hide-debt-call-it-equity

Let's assume a crude binary: on one side, Government money/debt/economy/reputation. On the other, cryptos.

And you're entitled to ask: 'Doesn't he ever shut up about debt!!??' Well, please take a second: does it make sense to you that Government and debt and reputation and economy are all basically the same thing?

So, what the article is explaining is a trickery. If the financial assets that back your new company is that you owe a million bucks, your company is rubbish.

And that is exactly what 'debt as equity' is: debt pretending to be something else: an asset.

And these shenanigans make cryptos look better and better. Within ten or fifteen years, GRS could be a body of value, non-Governmental, with a fine reputation, and its own economy attached.

[indiamikezulu]

GRS Nation, commercially dynamic, secured by PGP, priced against Au.


'A profound transformation of the global monetary system is underway. It is being driven by a perfect storm: the need for Russia and Iran to escape Western sanctions, the low interest rate policy of the U.S. Federal Reserve to keep the American economy afloat and the increasing demand for Middle East oil by China.'

https://www.huffingtonpost.com/alastair-crooke/petrodollar-us-saudi-policy_b_6245914.html


Got a Bitcoin knock-off worth .145 of a Btc. The writing is on the wall for the USD as global reserve currency. The Euro is gonna implode (sooner or later . . . ) Folks are no longer talking about Eth<>BTC parity.

But gold and silver are another class; and it's time – notwithstanding that the volume isn't there yet – to get ourselves a GRS-Au ticker.

[indiamikezulu]

Bitcoin Cash just hit Number 2 on the charts. (No jokes about 'Number Twos,' thank you . . . )

I frankly admit I'm struggling to put the pieces together: is BCH's price-rise just a reaction/pump? or will it hold steady?

It was surprising how many folks yesterday seemed to think that suggesting a GRS-gold price 'ticker' somehow meant I wanted to pin GRS's price to gold, or return to 'barbarous relics' or . . . I don't know what.

My point was: as an asset that is both 'outside' cryptos, and relatively stable in value, it would help us understand our situation better.

Meanwhile, please post all opinions about the BTC<>BCH Thang here.

[indiamikezulu]

Two associated things

Yesterday, during the Bitcoin-Bitcoin Cash, I bought GRS simply because I didn't want to be in any other crypto. Wasn't looking for a trading profit down the track. Just felt better for owning more GRS: hard-capped, got stealth function, not ICO-able, not chopping itself in pieces 'cause it's caught up in some insane marketing game.

Today, perhaps the best mainstream journalist I know, Ambrose Evans-Pritchard wrote:

'The shake-out in the US junk bond market last week had an ominous feel for traders and may finally mark the top of the post-Lehman boom in corporate credit. The exuberant reach for yield is nearing its limits.

"It is a sober moment. People are suddenly aware that central banks are turning serious and are not going to keep creating stimulus ad ¬infinitum," '

http://www.telegraph.co.uk/business/2017/11/12/time-investors-leave-party-latest-bond-market-wobbles/

[indiamikezulu]

I'm aware I sound like a mad parrot.

'Quantitative easing by the ECB  . . . . has not changed [Italy's] underlying pathologies.
"The end of QE poses a threat to Italy. As the ECB pulls back, [Italy] will have to find new marginal buyers of its sovereign bonds. '

http://www.telegraph.co.uk/business/2017/11/13/italy-risks-storm-qe-ends-politics-go-haywire-hsbc-warns/

It's unlikely that the stimulus will actually end. More likely, the markets will freak out; the terminology will be changed to protect the guilty; and the funny money will flow again, but even more plentifully.

But gold and crypto prices will climb steadily as people steadily bail on government money/bonds/trust.

And meanwhile, in the U.S.:

'Chicago is selling off its right to receive sales-tax revenue from Illinois to a separate public corporation, which will issue new bonds backed by those funds, a structure called securitization . . . '

https://dollarcollapse.com/pension-funds/broke-desperate-part-1-chicago-pawns-crown-jewel/

[indiamikezulu]

Let's see if this takes off:

Beginner's Class: One: operational security comes before everything else. Full stop.

Everyone has different goals. (I belong to a trust-alliance. Most unusual. Therefore our OPSEC back-up model involves other hooomernzz!)

One: exchanges are 'the front line.' Coin on these is at risk every second. If you aren't profiting from trading, the risk is unwarranted.

Two: 'home base': I use a lap top. So, whatever 'suite' of crypto wallets is in use on my lap top equals 'home base.' IndiaMikeZulu has suffered a trojan attack, so we're under no delusions that 'home base' is safe – just way way safer than on exchanges!!

Three: cold storage: undoubtedly, your tech skills are better than mine (I have a Tech Guy). So, I'm outlining general principles here:

the two terms kickin' about – 'investor' and 'day-trader' – don't outline the reality very well. My guess is that most folks stand between the two. That is, some amount of their cryptos are 'vaulted.' Some amount is at home base/on exchanges.

Overall, then, you have the security protocols that pertain to each 'compartment,' and the protocols that protect funds while they're being shuffled between compartments.

And one more protocol for your overall back-up procedures, for the passwords that are part of your systems (and 'dat files' and PGP data).

To survive on Planet Krypto, you need to keep your OPSEC model in a constant state of refinement. If you crypto mates rag you about being too careful, get yourself a higher class of crypto mates!

See you tomorrow.

[indiamikezulu]

Chaos Theory and Crypto Prices

'the branch of mathematics that deals with complex systems whose behaviour is highly sensitive to slight changes in conditions, so that small alterations can give rise to strikingly great consequences'

https://www.google.com.au/search?q=definition+chaos+theory&rlz=1C1CHBD_en-GBAU726AU726&oq=definition+chaos+theo&aqs=chrome.0.0j69i57j0l4.5729j0j4&sourceid=chrome&ie=UTF-8


'Why is GRS's price dropping?'

Why do folks keep asking this question? Or perhaps, why do they expect that there's just one reason for a rise or fall in price.

At any moment, GRS is subject to a blizzard of influences: newcomers' capital, whales' shenanigans, tech updates, other cryptos/ICOs 'sucking' funds over to their own projects, craziness on exchanges, craziness in cryptos that are the 'other half' of our trading-pairs, Martian invasion, public holidays, ridiculous Government announcements, ignorant lying bastard bankers talking twaddle, etc., etc.

Do I have a point here? Yes:

Look for 'discernibles': that is, any patterns that can give you an idea which direction the price will go. That's as good as it gets. Today? Well, the price might or might not drop a bit further. But I bet it will l i k e l y rise a bit in mid-December.

All hail the dev team!!

[big_onion]

I have a bad habit of not using wallets outside of exchanges (or, for those that are offered on it, Coinbase).  I'm terribly afraid of losing keys or access, or something like that. I like having my coins where I can liquidate quickly if need be.  If I go to another country I can keep all manner of money in my one physical wallet, and I really want to be able to do the same with digital currencies, although that's a pipe dream.  (However, Metal was setting up a wallet for BTC, ETH, and all ERC20 tokens, but nothing else.)

I know people point to Mt. Gox as a big reason why not to keep coins on an exchange, but if you are using 2FA and have all the security features activated (email verification from new IP, verification/2FA for every transfer, etc) are they still not considered "safe"?  In all actuality, is the risk any higher (as in how many people have had money stolen off an exchange) than using a private wallet?

Thanks for the write up. I hope you continue ... I've been involved in crypto since June or July but am still VERY much a noob.

Let's see if this takes off:

Beginner's Class: One: operational security comes before everything else. Full stop.

Everyone has different goals. (I belong to a trust-alliance. Most unusual. Therefore our OPSEC back-up model involves other hooomernzz!)

One: exchanges are 'the front line.' Coin on these is at risk every second. If you aren't profiting from trading, the risk is unwarranted.

Two: 'home base': I use a lap top. So, whatever 'suite' of crypto wallets is in use on my lap top equals 'home base.' IndiaMikeZulu has suffered a trojan attack, so we're under no delusions that 'home base' is safe – just way way safer than on exchanges!!

Three: cold storage: undoubtedly, your tech skills are better than mine (I have a Tech Guy). So, I'm outlining general principles here:

the two terms kickin' about – 'investor' and 'day-trader' – don't outline the reality very well. My guess is that most folks stand between the two. That is, some amount of their cryptos are 'vaulted.' Some amount is at home base/on exchanges.

Overall, then, you have the security protocols that pertain to each 'compartment,' and the protocols that protect funds while they're being shuffled between compartments.

And one more protocol for your overall back-up procedures, for the passwords that are part of your systems (and 'dat files' and PGP data).

To survive on Planet Krypto, you need to keep your OPSEC model in a constant state of refinement. If you crypto mates rag you about being too careful, get yourself a higher class of crypto mates!

See you tomorrow.

[indiamikezulu]

So, a traveler with a sorta crypto-trading set-up bolted onto your fiat-banking set-up? Niiiiice!

But are exchanges unsafe? Even if I have 2fa etc. etc.?

Yes. Much much more so than a 'home base' wallet.

You see, 2fa etc. are about others stealing your cryptos from the exchange; but the real risk is the exchange stealing your cryptos from you. Or just collapsing.

You hear 'Gox' and 'Cryptsy,' but many more exchanges have gone down, and many more again fall into 'zombie mode,' which brings all manner of stress and loss. (I won't use C-Cex: you only get 'robot replies' from their Support.)

Bear in mind also, Big Onion, that if a crypto's community has a wallop of its coin on one exchange, and that exchange goes down – which may well put a massive chunk of coin into malefactors' hands – that crypto can be paralysed for a year or more.

Could you set up a 'home base' of one or more wallets?

The touchstone is always your technical ability. I have a Tech Guy ('cause I'm a political theorist come to cryptos, not a crypto geek as such). He is awesome. So, I can set up a click-n-go wallet, and back it up correctly. But I couldn't re-build one from the 'dat file.'

Nevertheless, if the dat file is correctly saved, THE CRYPTOS IN IT ARE SAFE, even if it takes you months to find someone who knows how to 're-build' the wallet that the dat file is a back-up of [Campers, your cryptos are not 'in the wallet.' They are on the blockchain. The wallet is a chunk of tech that allows you access to your coin on the blockchain.]


Now I'll pitch you a question: are you never gonna have more cryptos to store? If your present (on-exchange) holdings go up 1000% in value, ya still gonna have the lot on one exchange?

If you turn up tomorrow, we'll start designing an OPSEC model for you.

P.s.: check out the Ledger Nano S, and there are some similar multi-coin hardware devices. All we want for Christmas is for GRS to be adopted by Ledger!!!

[indiamikezulu]

Beginners' Trading-Class

[Music while working: Pink Floyd's 'Animals']

https://www.reddit.com/r/CryptoCurrency/comments/7dq5js/thinking_of_day_trading_dont_do_it_youll_lose/

'Think of your trading losses as a tuition fee.'


What happened to humility? And 'paying your dues'? The Reddit thread has emboldened me:

I suspect that for every ten Me-Got-Lambo posts there are a dozen or a hundred newcomers who lost big, and have left the building.

Try this quick quiz:

One: do you usually 'actively' buy 'on the high side' of the order books? Or put bids in on the low side? [Me? Prolly only buy on the high side 1% of crypto purchases ever]

Two: how long have you spent devving on a 'fave' crypto? Two years? One? A month? Never devved? [Me? 7 days a week since mid-2013]

Three: when you're analyzing a crypto you might buy into, do you do ALL of the following: read some of the posts from the last year, to get a feel of the community. Check the rich list. Make sure you have an idea of its specs. Check the activity of the dev team. Read reviews on its exchanges. [Me? All of these always]

Four: how often have you EVER posted: 'When will the price go up?' [Me? Never]

Five: how often do you just stop trading a crypto because its market is a bit nuts? [Me? Quite often]

Six: do you cruise the Facebook, Reddit, Discord, Telegram, Slack, Bitcointalk, and 'home base' site most days? Or just hang with the sock puppets on Telegram (in GRS's case) [Me? Every day.]

Seven: do you even REALISE that the Telegram channel is sockpuppet central? [Me? Our telegram is . . . unfortunate]

'Answer': if any of the quiz makes no sense to you, you're probably on very thin ice. For example, I'm a rubbish trader. And I know it. How do I handle the 'back side of a spike'? when the prices just seem to go sideways and down? I stop trading that crypto until things settle down.

'I prefer "week trading." I am extremely patient with my buys and sells' – yeh, me too.

[indiamikezulu]

Beginner's Trading-Class, Day Two

One: you are here because you recognize your limits – like me. I'm a vision-impaired compu-klutz old guy. But I've been devving on altcoins for 53 months straight.

Two: a bucket with a hole in the bottom is worse than useless: OPSEC is our touchstone.

Three: all krypto geeks trade on more than one crypto; but by the same token, most geeks have a fave coin, a 'backstop' coin. So, suppose GRS is spikey-crazy-OMG-I-don't-understand? Well, you stop trading, and watch and wait. And you can trade a bit – or a lot – elsewhere; make some Bitcoin; and pump that profit into GRS as soon as the price falls/steadies.

Four: 'buying on the low side.' This should make perfect sense to you – order books have a high and a low side. From this moment, you will be hunting for packets of coin 'on the low side.'

Five: contribute to your community. I do it because I dig the politics (the anthropology of libertarian milieus). The longer you do this, the more you know about what is going on. Gee wow – just like the real world!!

Homework: analyse your own OPSEC model. If you can't find a single weakness in it, I shall mock you. See you all tomorrow.