What is Bitcoin, how do you buy it and is the ...

Chromapolis FUD: Stop the nonsense. (RE: The Ian Balina Scandal)

Chromapolis FUD: Stop the nonsense. (RE: The Ian Balina Scandal)
This piece was originally posted here by an anonymous writer, but I thought that it hadn't received enough views to truly defend the team. I'm sure many of you saw the Ian Balina ICO pool scandal here, but I thought it unfairly dragged down Chromaway's name with it.
----------------------------------------------
There has been massive amounts of FUD going around the ICO community–some accusations are well-founded, and I understand the confusion and anger. I’m not here to defend the actions of the team, and I’m not here to say that they have reacted in the best way possible. Nor am I here to defend the actions of Ian Balina. I am, however, here to defend the characters of the ChromaWay team and the accomplishments and contributions they have made to the blockchain industry.
First of all, Alex Mizrahi has contributed more to the development of this fascinating industry than 99.99% of ICO participants. The ChromaWay team, led by Alex, were the first to create a protocol capable of issuing tokens, called “colored coins” at the time (circa 2011~2012). The concept was so new at the time that he even had to quote Meni Rosenfield on what “colored coins” were:

By the original design bitcoins are fungible, acting as a neutral medium of exchange. However, by carefully tracking the origin of a given bitcoin, it is possible to “color” a set of coins to distinguish it from the rest. These coins can then have special properties supported by either an issuing agent or a Schelling point, and have value independent of the face value of the underlying bitcoins. Such colored bitcoins can be used for alternative currencies, commodity certificates, smart property, and other financial instruments such as stocks and bonds.

His role in the propagation of the idea of what we now call “tokens” played a huge role in expanding the blockchain industry into what it is today. In fact, when Vitalik introduced the concept of Ethereum to the world onstage at Bitcoin Miami 2014, he praised colored coins and its potential to radically change the scope of blockchain applications.

Above: Slide from Vitalik’s presentation in BTC Miami 2014 on the applications of blockchain and distributed consensus, following Satoshi’s creation of digital currency and blockchain in 2009. Vitalik described colored coins by saying, “the idea behind [colored coins] is okay, you have a blockchain and you have a currency on it, but what if you could put other currencies on the blockchain as well.”

Above: Jimmy Song, one of ChromaWay’s early hires, explains Colored Coins and ChromaWallet back in 2014 in Zug, Switzerland.
We’ve come a long way from the small grassroots and enthusiast developer communities in 2011, to now multimillion dollar companies appearing out of thin air during 2017-18. If the ChromaWay team were only in it for the money, wouldn’t they have thrown together a whitepaper and raised $30 million when ICOs were all the rage last year? No, they waited for a breakthrough in lowering the barrier of entry for developers that want to create dapps: Postchain.
The implications of their breakthrough in Postchain is huge. The internet as we know it today, “internet 2.0” was created on the backbones of relational databases and improved protocols. Postchain, very simply put, allows relational blockchains. This means that any developer, blockchain experienced or not, will be able to create dapps using SQL queries that they are already familiar with. If more people cared about the core technology and its potential to truly make dapps mainstream and less about getting “hyped up” coins at a higher price, these recent waves of FUD would not have been given much attention--what Ian decides to do with his allocation is his decision. Again, I am not defending his actions nor the team’s response to the FUD. Quite frankly, the Chromaway team has never had to deal with situations like these, and I’m sure stress played a huge part.
So what else has the team been doing since 2011? Short answer: a lot of research, ideas, and development, that we take for granted today.
What were you doing to help this revolution? They may have made mistakes--after all it is their first ICO. But it’s not fair to attack their character based on miscommunications and mistakes, that ultimately have no long-term effects on the project.
If you have a problem with the way they have communicated with the community and investors that is completely reasonable. But do not start acting out character assassinations on people that have been building infrastructure in the space for years simply because you are unhappy with their inexperience in PR relations and communications. Come at them with your concerns not your vitriol. Creating anonymous posts where all you do is bash on them without providing constructive criticism will only create more problems.
To add onto this, this article has been making the rounds and makes a lot of assumptions and straight out unfounded accusations. To be more specific near the end they call out an influencer known as “TheGobOne” as having been fined $400,000 by the SEC because of pooling. First of all TheGobOne is a Canadian citizen and is not governed by the SEC. And by his own word has not been in contact or been contacted by them in regards to pooling funds. To create entirely false talking points to support your narrative is as disingenuous as possible. Why the author felt the need to spread lies to try and support his point shows a clear alterior motive in trying to character assassinate influencers and team members associated with the project, rather than coming at them with purely fact based concerns.

Above: TheGobOne refuting claims he was fined by the SEC in his Discord Announcements channel earlier today.
Everyone in the blockchain space has been a bit on edge lately because of the serious market downturn. If you’re an investor you’ve been feeling the heat of the giant -70%+ losses on altcoins. Feeling frustrated at that is completely natural but in the end we have to make sure we don’t explode at projects and people that have little to do with our own down investments. There are teams and projects that are simply trying to build something they believe the space needs. Let’s try to make the crypto community stronger and come together to help these developers make the best projects they can. Without bombarding them with negativity for every mistake they make on the way there.
Ending on a lighter note, you can see Alex’s true character in a funnily relevant thread from 2012 titled “fuck this shit, I want my own blockchain!” where he says:
I understand that many community members won't like some of these features, but the goal here is to try new things, not to get some people rich. If you don't like it, then forget about it. If nobody likes it, I have other things to do.
submitted by cryptohan to CryptoCurrency [link] [comments]

BITCOIN A-Z - know everything about Bitcoin (பிட்காயின் ... Bitcoin Q&A: Who Determines the Value of Bitcoin? - YouTube bitcoin краны от landbitcoin #983 CFTC BitMEX Anklage, Bitcoin Regulierung & World of ... Sentinel Support - How to troubleshoot 'Win32 EXE error 747', Sentinel HASP

Is it safe to use Bitcoin? Can you trust a decentralized computer network with your money? Most people still treat Bitcoin as a mythical pandora box which contains thieves, money launderers, scammers, terrorists, other people of the worst ... The value of Bitcoin, like all currencies, is determined by how much people are willing to exchange it for. The value of Bitcoin has fluctuated wildly since they were introduced and have reached a record high. In 2013 when they first came to public attention, the value soared by 10,000 per cent before the price crashed. In September 2016, a Bitcoin was being traded for around £469. In October ... Safebit is just that - a new class of operating system designed with the modern computational capabilities, and not bound to legacy abstractions. We’re building a connectivity layer that will enable you to have full control over your entire digital footprint securely. Your data is yours and yours alone to decide who has access to it and who doesn’t. The era of client-server, public key ... Bitcoin's dramatic rise in value in 2017 captured the media's attention, but the currency isn't always safe from hackers, or even a failed hard drive. Consumer Reports looks at whether bitcoin is ... About SafeCoin. SafeCoin price today is $0.026153 USD with a 24-hour trading volume of $760.70 USD. SafeCoin is down 20.58% in the last 24 hours. The current CoinMarketCap ranking is #1411, with a market cap of $725,360 USD.

[index] [27397] [9911] [11585] [46945] [9615] [7214] [3636] [2394] [50826] [23235]

BITCOIN A-Z - know everything about Bitcoin (பிட்காயின் ...

This video is unavailable. Watch Queue Queue. Watch Queue Queue TechTube is a series of tutorials offering the latest support and education on SafeNet Sentinel Products. In this session you will learn how to troubleshoot ... Hey guys, today the video is about how the Bitcoin price is calculated. It took me a while to understand this when I first got into Bitcoin - I was confused ... Keywords/phrases: Who determines the value of bitcoins? Everyone, through market forces of supply and demand in international liquid markets that operate aro... In this video I'll explain about What Is Bitcoin In Tamil FaceBook: https://goo.gl/pp2d4E Instagram: https://goo.gl/C9zLz2 Tweet Me At: https://goo.gl/j1s2Eq...

#