VOTING POWER100.00%
DOWNVOTE POWER100.00%
RESOURCE CREDITS100.00%
REPUTATION PROGRESS43.72%
Net Worth
10.141USD
STEEM
0.000STEEM
SBD
19.207SBD
Own SP
12.323SP
Detailed Balance
| STEEM | ||
| balance | 0.000STEEM | STEEM |
| market_balance | 0.000STEEM | STEEM |
| savings_balance | 0.000STEEM | STEEM |
| reward_steem_balance | 0.000STEEM | STEEM |
| STEEM POWER | ||
| Own SP | 12.323SP | SP |
| Delegated Out | 0.000SP | SP |
| Delegation In | 0.000SP | SP |
| Effective Power | 12.323SP | SP |
| Reward SP (pending) | 1.110SP | SP |
| SBD | ||
| sbd_balance | 17.801SBD | SBD |
| sbd_conversions | 0.000SBD | SBD |
| sbd_market_balance | 0.000SBD | SBD |
| savings_sbd_balance | 0.000SBD | SBD |
| reward_sbd_balance | 1.406SBD | SBD |
{
"balance": "0.000 STEEM",
"savings_balance": "0.000 STEEM",
"reward_steem_balance": "0.000 STEEM",
"vesting_shares": "20066.582052 VESTS",
"delegated_vesting_shares": "0.000000 VESTS",
"received_vesting_shares": "0.000000 VESTS",
"sbd_balance": "17.801 SBD",
"savings_sbd_balance": "0.000 SBD",
"reward_sbd_balance": "1.406 SBD",
"conversions": []
}Account Info
| name | urbancrypto |
| id | 178836 |
| rank | 110,512 |
| reputation | 51908908447 |
| created | 2017-06-05T06:47:33 |
| recovery_account | steem |
| proxy | None |
| post_count | 76 |
| comment_count | 0 |
| lifetime_vote_count | 0 |
| witnesses_voted_for | 0 |
| last_post | 2017-08-09T12:21:54 |
| last_root_post | 2017-08-09T12:21:54 |
| last_vote_time | 2017-08-09T12:21:54 |
| proxied_vsf_votes | 0, 0, 0, 0 |
| can_vote | 1 |
| voting_power | 0 |
| delayed_votes | 0 |
| balance | 0.000 STEEM |
| savings_balance | 0.000 STEEM |
| sbd_balance | 17.801 SBD |
| savings_sbd_balance | 0.000 SBD |
| vesting_shares | 20066.582052 VESTS |
| delegated_vesting_shares | 0.000000 VESTS |
| received_vesting_shares | 0.000000 VESTS |
| reward_vesting_balance | 2293.189723 VESTS |
| vesting_balance | 0.000 STEEM |
| vesting_withdraw_rate | 0.000000 VESTS |
| next_vesting_withdrawal | 1969-12-31T23:59:59 |
| withdrawn | 0 |
| to_withdraw | 0 |
| withdraw_routes | 0 |
| savings_withdraw_requests | 0 |
| last_account_recovery | 1970-01-01T00:00:00 |
| reset_account | null |
| last_owner_update | 1970-01-01T00:00:00 |
| last_account_update | 2017-06-05T07:06:15 |
| mined | No |
| sbd_seconds | 205,679,214 |
| sbd_last_interest_payment | 2017-06-19T22:56:03 |
| savings_sbd_last_interest_payment | 1970-01-01T00:00:00 |
{
"id": 178836,
"name": "urbancrypto",
"owner": {
"weight_threshold": 1,
"account_auths": [],
"key_auths": [
[
"STM7mrJin5CEDThvibYHRBTGJsR3PhzpXKd9dVDBrXqEvkEUBxizh",
1
]
]
},
"active": {
"weight_threshold": 1,
"account_auths": [],
"key_auths": [
[
"STM8aEvznD2QLQ4boaUwTVVJSvBfoZmPBcWVMcxFWVBKekGZA1YQG",
1
]
]
},
"posting": {
"weight_threshold": 1,
"account_auths": [],
"key_auths": [
[
"STM5FRMPemh43h1VmfdhVomfAn9ytos9wjsrLQprpBN7AzJYoyU1V",
1
]
]
},
"memo_key": "STM8UBNzWVB1AttsQ1Bb2zwNPxtYSWzvG1hsit8bEC19PZaV46cEg",
"json_metadata": "{\"profile\":{\"profile_image\":\"https://urbancrypto.com/wp-content/uploads/2017/04/cropped-UrbanCrypto-Site-logo.png\",\"name\":\"Urban Crypto\",\"about\":\"Latest ICO & Cryptocurrency News\",\"website\":\"https://urbancrypto.com/\"}}",
"posting_json_metadata": "{\"profile\":{\"profile_image\":\"https://urbancrypto.com/wp-content/uploads/2017/04/cropped-UrbanCrypto-Site-logo.png\",\"name\":\"Urban Crypto\",\"about\":\"Latest ICO & Cryptocurrency News\",\"website\":\"https://urbancrypto.com/\"}}",
"proxy": "",
"last_owner_update": "1970-01-01T00:00:00",
"last_account_update": "2017-06-05T07:06:15",
"created": "2017-06-05T06:47:33",
"mined": false,
"recovery_account": "steem",
"last_account_recovery": "1970-01-01T00:00:00",
"reset_account": "null",
"comment_count": 0,
"lifetime_vote_count": 0,
"post_count": 76,
"can_vote": true,
"voting_manabar": {
"current_mana": "20066582052",
"last_update_time": 1588957467
},
"downvote_manabar": {
"current_mana": "5016645513",
"last_update_time": 1588957467
},
"voting_power": 0,
"balance": "0.000 STEEM",
"savings_balance": "0.000 STEEM",
"sbd_balance": "17.801 SBD",
"sbd_seconds": "205679214",
"sbd_seconds_last_update": "2017-07-13T06:25:03",
"sbd_last_interest_payment": "2017-06-19T22:56:03",
"savings_sbd_balance": "0.000 SBD",
"savings_sbd_seconds": "0",
"savings_sbd_seconds_last_update": "1970-01-01T00:00:00",
"savings_sbd_last_interest_payment": "1970-01-01T00:00:00",
"savings_withdraw_requests": 0,
"reward_sbd_balance": "1.406 SBD",
"reward_steem_balance": "0.000 STEEM",
"reward_vesting_balance": "2293.189723 VESTS",
"reward_vesting_steem": "1.110 STEEM",
"vesting_shares": "20066.582052 VESTS",
"delegated_vesting_shares": "0.000000 VESTS",
"received_vesting_shares": "0.000000 VESTS",
"vesting_withdraw_rate": "0.000000 VESTS",
"next_vesting_withdrawal": "1969-12-31T23:59:59",
"withdrawn": 0,
"to_withdraw": 0,
"withdraw_routes": 0,
"curation_rewards": 0,
"posting_rewards": 20602,
"proxied_vsf_votes": [
0,
0,
0,
0
],
"witnesses_voted_for": 0,
"last_post": "2017-08-09T12:21:54",
"last_root_post": "2017-08-09T12:21:54",
"last_vote_time": "2017-08-09T12:21:54",
"post_bandwidth": 0,
"pending_claimed_accounts": 0,
"vesting_balance": "0.000 STEEM",
"reputation": "51908908447",
"transfer_history": [],
"market_history": [],
"post_history": [],
"vote_history": [],
"other_history": [],
"witness_votes": [],
"tags_usage": [],
"guest_bloggers": [],
"rank": 110512
}Withdraw Routes
| Incoming | Outgoing |
|---|---|
Empty | Empty |
{
"incoming": [],
"outgoing": []
}From Date
To Date
steemdelegated 0.000 SP to @urbancrypto2020/05/08 17:04:27
steemdelegated 0.000 SP to @urbancrypto
2020/05/08 17:04:27
| delegator | steem |
| delegatee | urbancrypto |
| vesting shares | 0.000000 VESTS |
| Transaction Info | Block #43202192/Trx 99a20741242c87d4e10e44cf6e496d7b920ed88e |
View Raw JSON Data
{
"trx_id": "99a20741242c87d4e10e44cf6e496d7b920ed88e",
"block": 43202192,
"trx_in_block": 23,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2020-05-08T17:04:27",
"op": [
"delegate_vesting_shares",
{
"delegator": "steem",
"delegatee": "urbancrypto",
"vesting_shares": "0.000000 VESTS"
}
]
}2019/06/05 08:30:33
2019/06/05 08:30:33
| parent author | urbancrypto |
| parent permlink | move-over-golem-and-storj-here-comes-cloudwith-me |
| author | steemitboard |
| permlink | steemitboard-notify-urbancrypto-20190605t083032000z |
| title | |
| body | Congratulations @urbancrypto! You received a personal award! <table><tr><td>https://steemitimages.com/70x70/https://steemitboard.com/@urbancrypto/birthday2.png</td><td>Happy Birthday! - You are on the Steem blockchain for 2 years!</td></tr></table> <sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@urbancrypto) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=urbancrypto)_</sub> ###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes! |
| json metadata | {"image":["https://steemitboard.com/img/notify.png"]} |
| Transaction Info | Block #33528456/Trx 92506942d24a975a7bcd8116f214778f53efe9a4 |
View Raw JSON Data
{
"trx_id": "92506942d24a975a7bcd8116f214778f53efe9a4",
"block": 33528456,
"trx_in_block": 4,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2019-06-05T08:30:33",
"op": [
"comment",
{
"parent_author": "urbancrypto",
"parent_permlink": "move-over-golem-and-storj-here-comes-cloudwith-me",
"author": "steemitboard",
"permlink": "steemitboard-notify-urbancrypto-20190605t083032000z",
"title": "",
"body": "Congratulations @urbancrypto! You received a personal award!\n\n<table><tr><td>https://steemitimages.com/70x70/https://steemitboard.com/@urbancrypto/birthday2.png</td><td>Happy Birthday! - You are on the Steem blockchain for 2 years!</td></tr></table>\n\n<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@urbancrypto) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=urbancrypto)_</sub>\n\n\n###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!",
"json_metadata": "{\"image\":[\"https://steemitboard.com/img/notify.png\"]}"
}
]
}2018/06/05 09:35:39
2018/06/05 09:35:39
| parent author | urbancrypto |
| parent permlink | move-over-golem-and-storj-here-comes-cloudwith-me |
| author | steemitboard |
| permlink | steemitboard-notify-urbancrypto-20180605t093541000z |
| title | |
| body | Congratulations @urbancrypto! You have received a personal award! [](http://steemitboard.com/@urbancrypto) 1 Year on Steemit <sub>_Click on the badge to view your Board of Honor._</sub> > Do you like [SteemitBoard's project](https://steemit.com/@steemitboard)? Then **[Vote for its witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1)** and **get one more award**! |
| json metadata | {"image":["https://steemitboard.com/img/notify.png"]} |
| Transaction Info | Block #23052515/Trx b41b40385e1579482f54413437d6c33b0bb9b4a1 |
View Raw JSON Data
{
"trx_id": "b41b40385e1579482f54413437d6c33b0bb9b4a1",
"block": 23052515,
"trx_in_block": 55,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2018-06-05T09:35:39",
"op": [
"comment",
{
"parent_author": "urbancrypto",
"parent_permlink": "move-over-golem-and-storj-here-comes-cloudwith-me",
"author": "steemitboard",
"permlink": "steemitboard-notify-urbancrypto-20180605t093541000z",
"title": "",
"body": "Congratulations @urbancrypto! You have received a personal award!\n\n[](http://steemitboard.com/@urbancrypto) 1 Year on Steemit\n<sub>_Click on the badge to view your Board of Honor._</sub>\n\n\n> Do you like [SteemitBoard's project](https://steemit.com/@steemitboard)? Then **[Vote for its witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1)** and **get one more award**!",
"json_metadata": "{\"image\":[\"https://steemitboard.com/img/notify.png\"]}"
}
]
}steemdelegated 1.250 SP to @urbancrypto2018/05/17 03:32:15
steemdelegated 1.250 SP to @urbancrypto
2018/05/17 03:32:15
| delegator | steem |
| delegatee | urbancrypto |
| vesting shares | 2034.813120 VESTS |
| Transaction Info | Block #22498543/Trx 15553b4303fbb3e8f2930bc49141640a19ce2ac9 |
View Raw JSON Data
{
"trx_id": "15553b4303fbb3e8f2930bc49141640a19ce2ac9",
"block": 22498543,
"trx_in_block": 11,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2018-05-17T03:32:15",
"op": [
"delegate_vesting_shares",
{
"delegator": "steem",
"delegatee": "urbancrypto",
"vesting_shares": "2034.813120 VESTS"
}
]
}cryptocrazy21upvoted (100.00%) @urbancrypto / beware-myetherwallet-security-issues-scam2018/04/16 18:51:33
cryptocrazy21upvoted (100.00%) @urbancrypto / beware-myetherwallet-security-issues-scam
2018/04/16 18:51:33
| voter | cryptocrazy21 |
| author | urbancrypto |
| permlink | beware-myetherwallet-security-issues-scam |
| weight | 10000 (100.00%) |
| Transaction Info | Block #21624948/Trx ab1c2f3b187e238f4de313887cfc157bdb1f1485 |
View Raw JSON Data
{
"trx_id": "ab1c2f3b187e238f4de313887cfc157bdb1f1485",
"block": 21624948,
"trx_in_block": 61,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2018-04-16T18:51:33",
"op": [
"vote",
{
"voter": "cryptocrazy21",
"author": "urbancrypto",
"permlink": "beware-myetherwallet-security-issues-scam",
"weight": 10000
}
]
}steemdelegated 6.545 SP to @urbancrypto2018/01/09 07:14:51
steemdelegated 6.545 SP to @urbancrypto
2018/01/09 07:14:51
| delegator | steem |
| delegatee | urbancrypto |
| vesting shares | 10658.571499 VESTS |
| Transaction Info | Block #18820293/Trx c938829f8f0433f1f7f2be26d70855fccfa30734 |
View Raw JSON Data
{
"trx_id": "c938829f8f0433f1f7f2be26d70855fccfa30734",
"block": 18820293,
"trx_in_block": 0,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2018-01-09T07:14:51",
"op": [
"delegate_vesting_shares",
{
"delegator": "steem",
"delegatee": "urbancrypto",
"vesting_shares": "10658.571499 VESTS"
}
]
}2017/11/12 01:22:57
2017/11/12 01:22:57
| parent author | urbancrypto |
| parent permlink | beware-myetherwallet-security-issues-scam |
| author | ktmgen |
| permlink | re-urbancrypto-beware-myetherwallet-security-issues-scam-20171112t012258915z |
| title | |
| body | > I spoke to MyEtherWallet and they gave me this link: https://myetherwallet.groovehq.com/knowledge_base/topics/hacks-thefts-and-stolen-funds-due-to-phishing-links-between-7-slash-5-slash-2017-slackbot-scambot-phishing-slash-reddit-dm-slash New link to replace the broken one: https://myetherwallet.github.io/knowledge-base/security/phish-hacks-thefts-and-stolen-funds-due-to-phishing.html |
| json metadata | {"tags":["crypto"],"links":["https://myetherwallet.groovehq.com/knowledge_base/topics/hacks-thefts-and-stolen-funds-due-to-phishing-links-between-7-slash-5-slash-2017-slackbot-scambot-phishing-slash-reddit-dm-slash","https://myetherwallet.github.io/knowledge-base/security/phish-hacks-thefts-and-stolen-funds-due-to-phishing.html"],"app":"steemit/0.1"} |
| Transaction Info | Block #17143804/Trx d7ace0bc97da674cca3a6f9802e504f83190e290 |
View Raw JSON Data
{
"trx_id": "d7ace0bc97da674cca3a6f9802e504f83190e290",
"block": 17143804,
"trx_in_block": 15,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2017-11-12T01:22:57",
"op": [
"comment",
{
"parent_author": "urbancrypto",
"parent_permlink": "beware-myetherwallet-security-issues-scam",
"author": "ktmgen",
"permlink": "re-urbancrypto-beware-myetherwallet-security-issues-scam-20171112t012258915z",
"title": "",
"body": "> I spoke to MyEtherWallet and they gave me this link:\nhttps://myetherwallet.groovehq.com/knowledge_base/topics/hacks-thefts-and-stolen-funds-due-to-phishing-links-between-7-slash-5-slash-2017-slackbot-scambot-phishing-slash-reddit-dm-slash\n\n\nNew link to replace the broken one: https://myetherwallet.github.io/knowledge-base/security/phish-hacks-thefts-and-stolen-funds-due-to-phishing.html",
"json_metadata": "{\"tags\":[\"crypto\"],\"links\":[\"https://myetherwallet.groovehq.com/knowledge_base/topics/hacks-thefts-and-stolen-funds-due-to-phishing-links-between-7-slash-5-slash-2017-slackbot-scambot-phishing-slash-reddit-dm-slash\",\"https://myetherwallet.github.io/knowledge-base/security/phish-hacks-thefts-and-stolen-funds-due-to-phishing.html\"],\"app\":\"steemit/0.1\"}"
}
]
}2017/10/07 18:34:15
2017/10/07 18:34:15
| parent author | urbancrypto |
| parent permlink | ucash-ibo-introducing-the-first-initial-bounty-offering |
| author | thiagokawamoto |
| permlink | re-urbancrypto-ucash-ibo-introducing-the-first-initial-bounty-offering-20171007t183414200z |
| title | |
| body | I've tried the get the bounties but there was no sucess. |
| json metadata | {"tags":["ico"],"app":"steemit/0.1"} |
| Transaction Info | Block #16128563/Trx a316b28f86a7ce0c8be1032ba181834ccc688498 |
View Raw JSON Data
{
"trx_id": "a316b28f86a7ce0c8be1032ba181834ccc688498",
"block": 16128563,
"trx_in_block": 7,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2017-10-07T18:34:15",
"op": [
"comment",
{
"parent_author": "urbancrypto",
"parent_permlink": "ucash-ibo-introducing-the-first-initial-bounty-offering",
"author": "thiagokawamoto",
"permlink": "re-urbancrypto-ucash-ibo-introducing-the-first-initial-bounty-offering-20171007t183414200z",
"title": "",
"body": "I've tried the get the bounties but there was no sucess.",
"json_metadata": "{\"tags\":[\"ico\"],\"app\":\"steemit/0.1\"}"
}
]
}2017/09/17 16:05:42
2017/09/17 16:05:42
| parent author | urbancrypto |
| parent permlink | bancor-network-ico-more-bancor-controversy |
| author | kimberlee17 |
| permlink | re-urbancrypto-bancor-network-ico-more-bancor-controversy-20170917t160546269z |
| title | |
| body | Solid post. Nice to see I'm not the only one who thinks like this. Only invest in ICOs if you did the best possible research you can do and really believe in the future of the project. Wetter you're a short- or long term holder you should know what you put your money in. Personally I always use: https://www.coincheckup.com They seem to give this complete indepth analysis of all cryptocoins. Check: https://www.coincheckup.com/coins/Bancor#analysis To check Bancor Indepth analysis |
| json metadata | {"tags":["crypto"],"links":["https://www.coincheckup.com"],"app":"steemit/0.1"} |
| Transaction Info | Block #15549923/Trx 52acf610f13ea7d2cc0609fa1464850c81c97f77 |
View Raw JSON Data
{
"trx_id": "52acf610f13ea7d2cc0609fa1464850c81c97f77",
"block": 15549923,
"trx_in_block": 33,
"op_in_trx": 0,
"virtual_op": 0,
"timestamp": "2017-09-17T16:05:42",
"op": [
"comment",
{
"parent_author": "urbancrypto",
"parent_permlink": "bancor-network-ico-more-bancor-controversy",
"author": "kimberlee17",
"permlink": "re-urbancrypto-bancor-network-ico-more-bancor-controversy-20170917t160546269z",
"title": "",
"body": "Solid post. Nice to see I'm not the only one who thinks like this. Only invest in ICOs if you did the best possible research you can do and really believe in the future of the project. Wetter you're a short- or long term holder you should know what you put your money in. Personally I always use: https://www.coincheckup.com They seem to give this complete indepth analysis of all cryptocoins. Check: https://www.coincheckup.com/coins/Bancor#analysis To check Bancor Indepth analysis",
"json_metadata": "{\"tags\":[\"crypto\"],\"links\":[\"https://www.coincheckup.com\"],\"app\":\"steemit/0.1\"}"
}
]
}urbancryptoreceived 0.013 SBD, 0.015 SP author reward for @urbancrypto / ico-token-market-cap-what-does-it-mean2017/08/13 09:58:54
urbancryptoreceived 0.013 SBD, 0.015 SP author reward for @urbancrypto / ico-token-market-cap-what-does-it-mean
2017/08/13 09:58:54
| author | urbancrypto |
| permlink | ico-token-market-cap-what-does-it-mean |
| sbd payout | 0.013 SBD |
| steem payout | 0.000 STEEM |
| vesting payout | 24.768953 VESTS |
| Transaction Info | Block #14535352/Virtual Operation #5 |
View Raw JSON Data
{
"trx_id": "0000000000000000000000000000000000000000",
"block": 14535352,
"trx_in_block": 4294967295,
"op_in_trx": 0,
"virtual_op": 5,
"timestamp": "2017-08-13T09:58:54",
"op": [
"author_reward",
{
"author": "urbancrypto",
"permlink": "ico-token-market-cap-what-does-it-mean",
"sbd_payout": "0.013 SBD",
"steem_payout": "0.000 STEEM",
"vesting_payout": "24.768953 VESTS"
}
]
}funkywandererupvoted (100.00%) @urbancrypto / move-over-golem-and-storj-here-comes-cloudwith-me2017/08/09 12:38:39
funkywandererupvoted (100.00%) @urbancrypto / move-over-golem-and-storj-here-comes-cloudwith-me
2017/08/09 12:38:39
| voter | funkywanderer |
| author | urbancrypto |
| permlink | move-over-golem-and-storj-here-comes-cloudwith-me |
| weight | 10000 (100.00%) |
| Transaction Info | Block #14423914/Trx 58fd7f0c2151e05c8c0dc6a84090e35dd517f8c6 |
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}urbancryptoupvoted (100.00%) @urbancrypto / move-over-golem-and-storj-here-comes-cloudwith-me2017/08/09 12:21:54
urbancryptoupvoted (100.00%) @urbancrypto / move-over-golem-and-storj-here-comes-cloudwith-me
2017/08/09 12:21:54
| voter | urbancrypto |
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}urbancryptopublished a new post: move-over-golem-and-storj-here-comes-cloudwith-me2017/08/09 12:21:54
urbancryptopublished a new post: move-over-golem-and-storj-here-comes-cloudwith-me
2017/08/09 12:21:54
| parent author | |
| parent permlink | ico |
| author | urbancrypto |
| permlink | move-over-golem-and-storj-here-comes-cloudwith-me |
| title | Move over Golem and Storj – Here Comes Cloudwith.me!! |
| body | Cloudwith.me is revolutionizing the world of Cloud based services. We have seen the launch of Golem, a “supercomputer” that allows users to utilize available computing power from others have had a surplus of computing power available to run their blockchain based applications. We have also seen companies like Storj that provide cloud based storage over the blockchain to enable users who need to store their data on the blockchain by utilizing the extra capacity of “farmers”. Both of these are very interesting projects with prospects for the future. Sounds impressive. Nevermind those projects, introducing Cloudwith.me. What is Cloudwith.me Clouwith.me is a new exciting project that is being introduced to the blockchain. This project comes from a team that already has a running cloud service platform that is now ready to move to the blockchain to make it completely decentralized. No more need to go two places for cloud hosting and cloud bandwidth, you can now use Clouwith.me that has the ability to give you both. This is an exciting project and one you should have a look at. I have written a full profile of the project and you can see more details about the project. Have a look: https://urbancrypto.com/cloudwith-me-ico-complete-cloud-services-on-the-blockchain/ |
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"body": "Cloudwith.me is revolutionizing the world of Cloud based services. We have seen the launch of Golem, a “supercomputer” that allows users to utilize available computing power from others have had a surplus of computing power available to run their blockchain based applications. We have also seen companies like Storj that provide cloud based storage over the blockchain to enable users who need to store their data on the blockchain by utilizing the extra capacity of “farmers”. Both of these are very interesting projects with prospects for the future. Sounds impressive. Nevermind those projects, introducing Cloudwith.me.\n\nWhat is Cloudwith.me\n\nClouwith.me is a new exciting project that is being introduced to the blockchain. This project comes from a team that already has a running cloud service platform that is now ready to move to the blockchain to make it completely decentralized. No more need to go two places for cloud hosting and cloud bandwidth, you can now use Clouwith.me that has the ability to give you both.\n\nThis is an exciting project and one you should have a look at. I have written a full profile of the project and you can see more details about the project.\n\nHave a look:\n\nhttps://urbancrypto.com/cloudwith-me-ico-complete-cloud-services-on-the-blockchain/",
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}calsaisumaupvoted (100.00%) @urbancrypto / ico-token-market-cap-what-does-it-mean2017/08/07 09:54:54
calsaisumaupvoted (100.00%) @urbancrypto / ico-token-market-cap-what-does-it-mean
2017/08/07 09:54:54
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}funkywandererupvoted (100.00%) @urbancrypto / ico-token-market-cap-what-does-it-mean2017/08/06 16:02:18
funkywandererupvoted (100.00%) @urbancrypto / ico-token-market-cap-what-does-it-mean
2017/08/06 16:02:18
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}bitcoinparadiseupvoted (0.02%) @urbancrypto / ico-token-market-cap-what-does-it-mean2017/08/06 10:23:06
bitcoinparadiseupvoted (0.02%) @urbancrypto / ico-token-market-cap-what-does-it-mean
2017/08/06 10:23:06
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}alphacoreupvoted (0.10%) @urbancrypto / ico-token-market-cap-what-does-it-mean2017/08/06 10:04:24
alphacoreupvoted (0.10%) @urbancrypto / ico-token-market-cap-what-does-it-mean
2017/08/06 10:04:24
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}urbancryptoupvoted (100.00%) @urbancrypto / ico-token-market-cap-what-does-it-mean2017/08/06 09:58:54
urbancryptoupvoted (100.00%) @urbancrypto / ico-token-market-cap-what-does-it-mean
2017/08/06 09:58:54
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urbancryptopublished a new post: ico-token-market-cap-what-does-it-mean
2017/08/06 09:58:54
| parent author | |
| parent permlink | ico |
| author | urbancrypto |
| permlink | ico-token-market-cap-what-does-it-mean |
| title | ICO Token Market Cap – What Does it Mean? |
| body | As I have been tracking EOS and their ongoing Initial Coin Offering, I see on their tracking page http://eosscan.io/ that they post their ICO Token Market Cap at any given time. Here is a picture of today’s number.  The question I have to ask is what does market cap mean when it comes to the blockchain based companies and does it truly represent what market-cap does in general? Here are my thoughts: https://urbancrypto.com/ico-token-market-cap-what-does-it-mean/ What do you think? |
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"body": "As I have been tracking EOS and their ongoing Initial Coin Offering, I see on their tracking page http://eosscan.io/ that they post their ICO Token Market Cap at any given time. Here is a picture of today’s number.\n\n\n\nThe question I have to ask is what does market cap mean when it comes to the blockchain based companies and does it truly represent what market-cap does in general?\n\nHere are my thoughts:\n\nhttps://urbancrypto.com/ico-token-market-cap-what-does-it-mean/\n\nWhat do you think?",
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}steemdelegated 6.699 SP to @urbancrypto2017/08/04 05:20:00
steemdelegated 6.699 SP to @urbancrypto
2017/08/04 05:20:00
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}2017/08/02 10:58:00
2017/08/02 10:58:00
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| author | urbancrypto |
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}2017/08/02 10:07:57
2017/08/02 10:07:57
| voter | networkallstar |
| author | urbancrypto |
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}2017/08/02 09:31:00
2017/08/02 09:31:00
| parent author | urbancrypto |
| parent permlink | mas-and-icos-does-the-monetary-authority-of-singapore-consider-them-securities |
| author | joshuakim |
| permlink | re-urbancrypto-mas-and-icos-does-the-monetary-authority-of-singapore-consider-them-securities-20170802t093053646z |
| title | |
| body | Thanks for the info on Singapore and ico. |
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}2017/08/02 09:30:30
2017/08/02 09:30:30
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}2017/08/02 09:22:30
2017/08/02 09:22:30
| voter | urbancrypto |
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2017/08/02 09:22:30
| parent author | |
| parent permlink | ico |
| author | urbancrypto |
| permlink | mas-and-icos-does-the-monetary-authority-of-singapore-consider-them-securities |
| title | MAS and ICOs – Does the Monetary Authority of Singapore consider them Securities? |
| body | <html> <p><br></p> <p><img src="https://urbancrypto.com/wp-content/uploads/2017/08/MAs2.jpg" width="337" height="150"/></p> <p>The Monetary Authority of Singapore (MAS) which is the central bank of Singapore has made a statement as to the status of Initial Coin Offerings and their Tokens. The MAS addresses the classification of the tokens and whether or not they are considered securities. This is not a surprise, after the SEC decision regarding The DAO and finding that it was indeed a security. A large number of token sales are taking place in Singapore and the MAS thought it was time to address the issue. </p> <h2><strong>MAS and ICOs – The Concern</strong></h2> <p>The main question, of course, is whether tokens created during Initial Coin Offerings constitute a security on MSA guidelines. The lack of regulatory information provided by current security guidelines regarding items like Cryptocurrencies and Token leaves this question open.In a statement released today, the Msa said,:</p> <p><em>“The Monetary Authority of Singapore (MAS) clarified today that the offer or issue of digital tokens in Singapore will be regulated by MAS if the digital tokens constitute products regulated under the Securities and Futures Act (Cap. 289) (SFA). MAS’ clarification comes in the wake of a recent increase in the number of initial coin (or token) offerings (ICOs) in Singapore as a means of raising funds.”</em></p> <p>The MSA position of not regulating virtual currencies is like in other jurisdictions. However, the MSA has recognized that the playing field has changed and that many of the tokens may be considered securities under the SFA, and subject to the rules of security guidelines set out by the SFA.</p> <h2><strong>Under SFA Guidelines What are the Requirements to be Followed?</strong></h2> <p>The release states,</p> <p><em>” Where digital tokens fall within the definition of securities in the SFA, issuers of such tokens would be required to lodge and register a prospectus with MAS prior to the offer of such tokens, unless exempted. Issuers or intermediaries of such tokens would also be subject to licensing requirements under the SFA and Financial Advisers Act (Cap. 110), unless exempted, and the applicable requirements on anti-money laundering and countering the financing of terrorism. In addition, platforms facilitating secondary trading of such tokens would also have to be approved or recognized by MAS as an approved exchange or recognized market operator respectively under the SFA.”</em></p> <p>Similar to the findings of the SEC, which I differentiate between differences between different tokens in the post I will include a link to below, the MAS states,</p> <p><em>“The types of digital tokens offered in Singapore and elsewhere vary widely. Some offers may be subject to the SFA while others may not be. All issuers of digital tokens, intermediaries facilitating or advising on an offer of digital tokens, and platforms facilitating trading in digital tokens should, therefore</em>, <em>seek independent legal advice to ensure they comply with all applicable laws, and consult MAS where appropriate”</em></p> <h2><strong>MAS and ICOs – Statement Conclusion</strong></h2> <p>The MSA was careful in their statement not to include all tokens as securities and subject to regulation. They do however state that some are and others may not. As per the last quote, this is obvious. This falls in line, in my opinion with the SEC ruling as well. We will have to see what the long-term ramifications this statement, as well as the SEC ruling has on the ICO market. </p> <p><a href="https://urbancrypto.com/the-sec-ruling-on-dao-token-and-ico-offerings-where-they-may-be-wrong/">https://urbancrypto.com/the-sec-ruling-on-dao-token-and-ico-offerings-where-they-may-be-wrong/</a></p> </html> |
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"body": "<html>\n<p><br></p>\n<p><img src=\"https://urbancrypto.com/wp-content/uploads/2017/08/MAs2.jpg\" width=\"337\" height=\"150\"/></p>\n<p>The Monetary Authority of Singapore (MAS) which is the central bank of Singapore has made a statement as to the status of Initial Coin Offerings and their Tokens. The MAS addresses the classification of the tokens and whether or not they are considered securities. This is not a surprise, after the SEC decision regarding The DAO and finding that it was indeed a security. A large number of token sales are taking place in Singapore and the MAS thought it was time to address the issue. </p>\n<h2><strong>MAS and ICOs – The Concern</strong></h2>\n<p>The main question, of course, is whether tokens created during Initial Coin Offerings constitute a security on MSA guidelines. The lack of regulatory information provided by current security guidelines regarding items like Cryptocurrencies and Token leaves this question open.In a statement released today, the Msa said,:</p>\n<p><em>“The Monetary Authority of Singapore (MAS) clarified today that the offer or issue of digital tokens in Singapore will be regulated by MAS if the digital tokens constitute products regulated under the Securities and Futures Act (Cap. 289) (SFA). MAS’ clarification comes in the wake of a recent increase in the number of initial coin (or token) offerings (ICOs) in Singapore as a means of raising funds.”</em></p>\n<p>The MSA position of not regulating virtual currencies is like in other jurisdictions. However, the MSA has recognized that the playing field has changed and that many of the tokens may be considered securities under the SFA, and subject to the rules of security guidelines set out by the SFA.</p>\n<h2><strong>Under SFA Guidelines What are the Requirements to be Followed?</strong></h2>\n<p>The release states,</p>\n<p><em>” Where digital tokens fall within the definition of securities in the SFA, issuers of such tokens would be required to lodge and register a prospectus with MAS prior to the offer of such tokens, unless exempted. Issuers or intermediaries of such tokens would also be subject to licensing requirements under the SFA and Financial Advisers Act (Cap. 110), unless exempted, and the applicable requirements on anti-money laundering and countering the financing of terrorism. In addition, platforms facilitating secondary trading of such tokens would also have to be approved or recognized by MAS as an approved exchange or recognized market operator respectively under the SFA.”</em></p>\n<p>Similar to the findings of the SEC, which I differentiate between differences between different tokens in the post I will include a link to below, the MAS states,</p>\n<p><em>“The types of digital tokens offered in Singapore and elsewhere vary widely. Some offers may be subject to the SFA while others may not be. All issuers of digital tokens, intermediaries facilitating or advising on an offer of digital tokens, and platforms facilitating trading in digital tokens should, therefore</em>, <em>seek independent legal advice to ensure they comply with all applicable laws, and consult MAS where appropriate”</em></p>\n<h2><strong>MAS and ICOs – Statement Conclusion</strong></h2>\n<p>The MSA was careful in their statement not to include all tokens as securities and subject to regulation. They do however state that some are and others may not. As per the last quote, this is obvious. This falls in line, in my opinion with the SEC ruling as well. We will have to see what the long-term ramifications this statement, as well as the SEC ruling has on the ICO market. </p>\n<p><a href=\"https://urbancrypto.com/the-sec-ruling-on-dao-token-and-ico-offerings-where-they-may-be-wrong/\">https://urbancrypto.com/the-sec-ruling-on-dao-token-and-ico-offerings-where-they-may-be-wrong/</a></p>\n</html>",
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}urbancryptoreceived 0.292 SBD, 0.294 SP author reward for @urbancrypto / why-do-ico-companies-continue-to-use-slack2017/07/30 14:39:45
urbancryptoreceived 0.292 SBD, 0.294 SP author reward for @urbancrypto / why-do-ico-companies-continue-to-use-slack
2017/07/30 14:39:45
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}calsaisumaupvoted (100.00%) @urbancrypto / ucash-ibo-introducing-the-first-initial-bounty-offering2017/07/28 09:10:48
calsaisumaupvoted (100.00%) @urbancrypto / ucash-ibo-introducing-the-first-initial-bounty-offering
2017/07/28 09:10:48
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}urbancryptoupvoted (100.00%) @urbancrypto / ucash-ibo-introducing-the-first-initial-bounty-offering2017/07/28 07:23:03
urbancryptoupvoted (100.00%) @urbancrypto / ucash-ibo-introducing-the-first-initial-bounty-offering
2017/07/28 07:23:03
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}urbancryptopublished a new post: ucash-ibo-introducing-the-first-initial-bounty-offering2017/07/28 07:23:03
urbancryptopublished a new post: ucash-ibo-introducing-the-first-initial-bounty-offering
2017/07/28 07:23:03
| parent author | |
| parent permlink | ico |
| author | urbancrypto |
| permlink | ucash-ibo-introducing-the-first-initial-bounty-offering |
| title | UCASH IBO – Introducing the First Initial Bounty Offering |
| body | UCASH , a peer-to-peer Global Financial Services Network, will be launching the UCASH IBO, the first ever Initial Bounty Offering (IBO). “UCASH is a blockchain based financial platform and digital asset converter network with a built-in cryptocurrency for payments of fees, execution of smart contracts and additional functionality. Our retail converters are our branches and ATMs.” (from whitepaper) UCASH IBO – What is an Initial Bounty Offering? An Initial Bounty offering differs from the well know Initial Coin Offering in that users can acquire tokens by completing bounties. There are various bounties to be claimed for various types of contributors, including but not limited to: Consumers Sign-Up Account Link Facebook Link Twitter Converters Signup an MSB Converter Signup a Retail Converter Signup a Converter Contributors Produce a song Produce a Video Write an Article Cooperative Coders Community This is just a small example of the different items available to the public from the UCASH IBO. There are different rewards in their XUC tokens for different contribution types for bounties. UCASH IBO – Why an Initial Bounty Offering? UCASH believes that Initial Coin Offerings do not allow for proper preparation and development of projects because they often launch without proper research, software development, relationship building, or even functioning alpha or beta versions. The IBO will gain all these necessary needs through their contributors as they will be intricately involved in the creation and development of the project. We will see if this innovative new project, the advent of the IBO, will spread through the industry and become another way to launch blockchain based projects. We look forward to the Press Release and writing a full profile of the project in the near future. Resources Website: https://u.cash/index.html Whitepaper:http://bit.ly/2u401Gc |
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"body": "UCASH , a peer-to-peer Global Financial Services Network, will be launching the UCASH IBO, the first ever Initial Bounty Offering (IBO).\n\n“UCASH is a blockchain based financial platform and digital asset converter network with a built-in cryptocurrency for payments of fees, execution of smart contracts and additional functionality. Our retail converters are our branches and ATMs.” (from whitepaper)\n\nUCASH IBO – What is an Initial Bounty Offering?\n\nAn Initial Bounty offering differs from the well know Initial Coin Offering in that users can acquire tokens by completing bounties.\n\nThere are various bounties to be claimed for various types of contributors, including but not limited to:\n\nConsumers\n Sign-Up Account\n Link Facebook\n Link Twitter\n\nConverters\n Signup an MSB Converter\n Signup a Retail Converter\n Signup a Converter\n\nContributors\n Produce a song\n Produce a Video\n Write an Article\n\nCooperative\n\nCoders\n\nCommunity\n\nThis is just a small example of the different items available to the public from the UCASH IBO. There are different rewards in their XUC tokens for different contribution types for bounties.\n\nUCASH IBO – Why an Initial Bounty Offering?\n\nUCASH believes that Initial Coin Offerings do not allow for proper preparation and development of projects because they often launch without proper research, software development, relationship building, or even functioning alpha or beta versions. The IBO will gain all these necessary needs through their contributors as they will be intricately involved in the creation and development of the project.\n\nWe will see if this innovative new project, the advent of the IBO, will spread through the industry and become another way to launch blockchain based projects. We look forward to the Press Release and writing a full profile of the project in the near future.\n\nResources\nWebsite: https://u.cash/index.html\nWhitepaper:http://bit.ly/2u401Gc",
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}ubgupvoted (1.00%) @urbancrypto / press-release-icobox-launches-first-ico-fixed-price-packages2017/07/27 20:07:30
ubgupvoted (1.00%) @urbancrypto / press-release-icobox-launches-first-ico-fixed-price-packages
2017/07/27 20:07:30
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}2017/07/27 19:38:45
2017/07/27 19:38:45
| parent author | urbancrypto |
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| body | Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in: https://finance.yahoo.com/news/icobox-launches-revolutionary-ico-fixed-130000956.html |
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}2017/07/27 19:38:42
2017/07/27 19:38:42
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}urbancryptoupvoted (100.00%) @urbancrypto / press-release-icobox-launches-first-ico-fixed-price-packages2017/07/27 19:38:27
urbancryptoupvoted (100.00%) @urbancrypto / press-release-icobox-launches-first-ico-fixed-price-packages
2017/07/27 19:38:27
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}urbancryptopublished a new post: press-release-icobox-launches-first-ico-fixed-price-packages2017/07/27 19:38:27
urbancryptopublished a new post: press-release-icobox-launches-first-ico-fixed-price-packages
2017/07/27 19:38:27
| parent author | |
| parent permlink | ico |
| author | urbancrypto |
| permlink | press-release-icobox-launches-first-ico-fixed-price-packages |
| title | Press Release: ICOBox Launches First ICO Fixed-Price Packages |
| body | Provided by ICOBox GEORGE TOWN, Ky., July 27, 2017, 9:00 AM ET ICOBox, the premier provider of SaaS solutions for conducting ICOs, today unveils its ICO Fixed-Price Service Package, which cuts down on wait time, offers clear price tag and makes ICOs accessible for a wider clientele. For projects seeking to conduct their ICOs through the sale of their product tokens, ICO Fixed-Price Service Package offers a highly convincing proposition – a SaaS solution for conducting ICOs of any size for 25-50 BTC. ICO Box also reserves the right to buy up to 250-500 BTC worth of the project’s tokens at a discount, thus potentially bringing it more business. “As ICOs explode in popularity, access to ICO technology, expert legal and marketing help is increasingly challenging to find,” says Nick Evdokimov, ICO Box co-founder. A standard ICO Box package consists of three modules: a technology solution, a legal solution, and a marketing solution. The technology solution includes a book-building platform which each ICO will need – ICO Box provides a ready-to-deploy model, which can be set up and customized in under a week. The solution also includes a smart contract (which drives the new token) and a token management system. The legal solution offers a review and advice on drafting the project’s White Paper and landing page by an external legal counsel experienced in conducting ICOs, the contractual documents’ drafting support, and the token legal concept review and recommendations. The marketing solution includes a preset marketing strategy: advertising traffic budget, critical public relations recommendations, and a bounty program setup. ICOBox fixed-price services may come in handy not just to blockchain-based companies seeking to conduct their ICOs. They will be very useful to a wide range of vendors looking to get access to a new way of selling their products and services. The fact that ICO Box is a product token platform helps suitable projects enter ICO process quicker and at a lesser cost than if they were to take a traditional turn-key service consulting route. ICO Box’s focus on product-oriented approach also delivers savings for its customers by taking out unnecessary and redundant consulting work out of the equation. Consequently, ICO Box’ process is more efficient: The entire ICO process could be initiated and completed in under two months. “We believe that with ICOBox’ SaaS packages we are opening the ICO realm to a much greater range of customers than ever before,” says Evdokimov. For more information on ICO Box services, please visit http://www.icobox.io. About ICOBox Founded in 2017, ICOBox offers fixed-price packages to projects looking to sell their products and services via tokens. ICOBox provides technical, legal, and marketing services as part of its Fixed-Price Service Package. ICOBox was founded by three blockchain visionaries: Nick Evdokimov, a co-founder of SeoPult, an ex-CEO of AdInTop and a co-founder of Cryptonomos, Mike Raitsyn, a serial entrepreneur, and Anar Babaev, a Head of Digital Marketing at Cryptonomos. Details on ICOBox can be found at www.icobox.io. For more information or to submit project ideas, please e-mail [email protected] Contact: Max Smetannikov, Denis Serikov, MVG for ICOBox, +1 646 205 7030, [email protected] Related Links http://www.icobox.io |
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"body": "Provided by ICOBox\nGEORGE TOWN, Ky.,\nJuly 27, 2017, 9:00 AM ET\n\nICOBox, the premier provider of SaaS solutions for conducting ICOs, today unveils its ICO Fixed-Price Service Package, which cuts down on wait time, offers clear price tag and makes ICOs accessible for a wider clientele.\n\nFor projects seeking to conduct their ICOs through the sale of their product tokens, ICO Fixed-Price Service Package offers a highly convincing proposition – a SaaS solution for conducting ICOs of any size for 25-50 BTC. ICO Box also reserves the right to buy up to 250-500 BTC worth of the project’s tokens at a discount, thus potentially bringing it more business.\n\n“As ICOs explode in popularity, access to ICO technology, expert legal and marketing help is increasingly challenging to find,” says Nick Evdokimov, ICO Box co-founder.\n\nA standard ICO Box package consists of three modules: a technology solution, a legal solution, and a marketing solution.\n\nThe technology solution includes a book-building platform which each ICO will need – ICO Box provides a ready-to-deploy model, which can be set up and customized in under a week. The solution also includes a smart contract (which drives the new token) and a token management system.\n\nThe legal solution offers a review and advice on drafting the project’s White Paper and landing page by an external legal counsel experienced in conducting ICOs, the contractual documents’ drafting support, and the token legal concept review and recommendations.\n\nThe marketing solution includes a preset marketing strategy: advertising traffic budget, critical public relations recommendations, and a bounty program setup.\n\nICOBox fixed-price services may come in handy not just to blockchain-based companies seeking to conduct their ICOs. They will be very useful to a wide range of vendors looking to get access to a new way of selling their products and services. The fact that ICO Box is a product token platform helps suitable projects enter ICO process quicker and at a lesser cost than if they were to take a traditional turn-key service consulting route. ICO Box’s focus on product-oriented approach also delivers savings for its customers by taking out unnecessary and redundant consulting work out of the equation. Consequently, ICO Box’ process is more efficient: The entire ICO process could be initiated and completed in under two months.\n\n“We believe that with ICOBox’ SaaS packages we are opening the ICO realm to a much greater range of customers than ever before,” says Evdokimov.\n\nFor more information on ICO Box services, please visit http://www.icobox.io.\n\nAbout ICOBox\nFounded in 2017, ICOBox offers fixed-price packages to projects looking to sell their products and services via tokens. ICOBox provides technical, legal, and marketing services as part of its Fixed-Price Service Package. ICOBox was founded by three blockchain visionaries: Nick Evdokimov, a co-founder of SeoPult, an ex-CEO of AdInTop and a co-founder of Cryptonomos, Mike Raitsyn, a serial entrepreneur, and Anar Babaev, a Head of Digital Marketing at Cryptonomos. Details on ICOBox can be found at www.icobox.io. For more information or to submit project ideas, please e-mail [email protected]\nContact: Max Smetannikov, Denis Serikov, MVG for ICOBox, +1 646 205 7030, [email protected]\n\nRelated Links\nhttp://www.icobox.io",
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}urbancryptoreceived 0.994 SBD, 0.969 SP author reward for @urbancrypto / cryptocurrency-security-not-keeping-up-with-the-blockchain2017/07/27 07:52:30
urbancryptoreceived 0.994 SBD, 0.969 SP author reward for @urbancrypto / cryptocurrency-security-not-keeping-up-with-the-blockchain
2017/07/27 07:52:30
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}gtkupvoted (100.00%) @urbancrypto / the-sec-ruling-on-dao-token-and-ico-offerings-where-they-may-be-wrong2017/07/26 08:39:21
gtkupvoted (100.00%) @urbancrypto / the-sec-ruling-on-dao-token-and-ico-offerings-where-they-may-be-wrong
2017/07/26 08:39:21
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2017/07/26 08:38:42
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}urbancryptopublished a new post: the-sec-ruling-on-dao-token-and-ico-offerings-where-they-may-be-wrong2017/07/26 08:38:42
urbancryptopublished a new post: the-sec-ruling-on-dao-token-and-ico-offerings-where-they-may-be-wrong
2017/07/26 08:38:42
| parent author | |
| parent permlink | crypto |
| author | urbancrypto |
| permlink | the-sec-ruling-on-dao-token-and-ico-offerings-where-they-may-be-wrong |
| title | The SEC Ruling on DAO Token and ICO Offerings – Where They May be Wrong |
| body | Yesterday, I wrote a post titled, “ICO Tokens & the SEC: Are Tokens Considered Securities?” where I discussed my opinion on the issue of tokens being securities or not. Interestingly enough the SEC came out with a ruling yesterday on this exact topic and I would like to look at the ruling and see if it is true that all blockchain based companies and projects are “securities”. The ruling was based on the structure of the infamous DAO token offering and its disastrous ending. All quotes are from the ruling which you can see in its entirety here: http://bit.ly/2v6Ls9R This was the ruling of the SEC: “Based on the investigation, and under the facts presented, the Commission has determined that DAO Tokens are securities under the Securities Act of 1933 (“SecuritiesAct”) and the Securities Exchange Act of 1934 (“Exchange Act”).” Just as a refresher, we will repeat the guidelines from the case of SEC v. Howey here: Under the Howey Test, a transaction is an investment contract if: 1. It is an investment of money 2. There is an expectation of profits from the investment 3. The investment of money is in a common enterprise 4. Any profit comes from the efforts of a promoter or third party Was the DAO Token a Security? Let’s look at each of the requirements under the Howey rule and see if the DAO token met the requirements and were therefore “securities”. It is an investment of money: The SEC gives this definition of the investment of money: “An investment contract is an investment of money in a common enterprise with a reasonable expectation of profits to be derived from the entrepreneurial or managerial efforts of others. In determining whether an investment contract exists, the investment of “money” need not take the form of cash. Howey’s reference to an ‘investment of money,’ it is well established that cash is not the only form of contribution or investment that will create an an investment contract.”).” As the contributions were made in ETH in exchange for DAO tokens, they are therefore considered an investment in money and would fulfil the first criteria of the Howey Test and be considered a security. One down, three to go. There is an expectation of profits from the investment The SEC describes how the promoters of the DAO project did promote the token’s purpose of allowing the holders to share in the profits of the DAO from its different projects. “Investors who purchased DAO Tokens were investing in a common enterprise and reasonably expected to earn profits through that enterprise when they sent ETH to The DAO’s Ethereum Blockchain address in exchange for DAO Tokens. “[P]rofits” include “dividends, other periodic payments, or the increased value of the investment.” It is pretty clear here that this requirement of the Howey ruling again applies to the DAO and its contributors, thus leading towards the SEC’s decision. The investment of money is in a common enterprise: For this one, we do not need to go to the SEC. It seems rather obvious that the contributors were all participating in a common enterprise. So we have met three of the requirements of the Howey rule. Any profit comes from the efforts of a promoter or third party: Although the holders of DAO tokens had some level of voting power the SEC points out that it was limited. “Investors’ profits were to be derived from the managerial efforts of others—specifically, Slock.it and its co-founders, and The DAO’s Curators.” So, once again we see that the DAO meets this requirement of the Howey test and would be considered a security. As you have seen, the DAO token fulfils all the requirements of the Howey Act and therefore falls under the rules of the the Securities Act of 1933 (“SecuritiesAct”) and the Securities Exchange Act of 1934 (“Exchange Act”). Why Do I Think the SEC Ruling May Be Wrong? With all the evidence given above, the obvious question is what am I talking about? How can I say the SEC was wrong about DAO and ICOs and tokens. I think that it is a bit misleading as the SEC made its first ruling regarding tokens based only on the DAO token. There is a clear distinction between Profit Sharing tokens (like DAO) and “Utility Tokens”. We have already shown how profit sharing token should be considered securities and require registration with the SEC and follow its guidelines. In the ruling, the SEC explains the ramifications of the decision and the need for regstration and what it includes. I will not get into this here. What the SEC is missing is the differentiation between these and other tokens that do not meet the Howey rule. Almost all of the tokens issued are for the future use of a project or platform that is being developed. It is like the “money” that will be needed to access the project and participate in the usage of that project. It is not an investment with the expectations of returns. One may argue that the tokens trade on exchanges, so aren’t they securities? I would say that the exchange is reflecting what the market perceives as the value of the future usage of the platform and not the value of the company. After the SEC decision was released, I discussed, through slack the issue with two ICOS. The Presearch ICO team, that is now in progress and the Kin token team that is to launch an ICO in the future. Both teams denied the issue related to their tokens as they are utility tokens and not securities and both projects will take investments from US citizens. To be fair to the SEC and their ruling, they do say the following: “Conclusion and References for Additional Guidance Whether or not a particular transaction involves the offer and sale of a security— regardless of the terminology used—will depend on the facts and circumstances, including the economic realities of the transaction.” Conclusion of My Thoughts on the SEC Ruling on DAO Token I hope that the SEC, given the last quote just above, looks at the different types of tokens and considers the difference. If they look at it objectively, it is hard to see how utility tokens should be classified as securities. Disclaimer: I am not a lawyer and in no way an expert on Securities Law. This is just my opinion. For more of my thoughts, see this section of my blog: https://urbancrypto.com/category/blockchain-my-thoughts/ |
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"body": "Yesterday, I wrote a post titled, “ICO Tokens & the SEC: Are Tokens Considered Securities?” where I discussed my opinion on the issue of tokens being securities or not. Interestingly enough the SEC came out with a ruling yesterday on this exact topic and I would like to look at the ruling and see if it is true that all blockchain based companies and projects are “securities”. The ruling was based on the structure of the infamous DAO token offering and its disastrous ending.\n\nAll quotes are from the ruling which you can see in its entirety here: http://bit.ly/2v6Ls9R\n\nThis was the ruling of the SEC:\n\n“Based on the investigation, and under the facts presented, the Commission has determined that DAO Tokens are securities under the Securities Act of 1933 (“SecuritiesAct”) and the Securities Exchange Act of 1934 (“Exchange Act”).”\n \nJust as a refresher, we will repeat the guidelines from the case of SEC v. Howey here:\n\nUnder the Howey Test, a transaction is an investment contract if:\n1. It is an investment of money\n2. There is an expectation of profits from the investment\n3. The investment of money is in a common enterprise\n4. Any profit comes from the efforts of a promoter or third party\n\nWas the DAO Token a Security?\n\nLet’s look at each of the requirements under the Howey rule and see if the DAO token met the requirements and were therefore “securities”.\n\nIt is an investment of money:\n\nThe SEC gives this definition of the investment of money:\n\n“An investment contract is an investment of money in a common enterprise with a reasonable expectation of profits to be derived from the entrepreneurial or managerial efforts of others. In determining whether an investment contract exists, the investment of “money” need not take the form of cash. Howey’s reference to an ‘investment of money,’ it is well established that cash is not the only form of contribution or investment that will create an an investment contract.”).”\n\nAs the contributions were made in ETH in exchange for DAO tokens, they are therefore considered an investment in money and would fulfil the first criteria of the Howey Test and be considered a security. One down, three to go.\n\nThere is an expectation of profits from the investment\n\nThe SEC describes how the promoters of the DAO project did promote the token’s purpose of allowing the holders to share in the profits of the DAO from its different projects.\n\n“Investors who purchased DAO Tokens were investing in a common enterprise and reasonably expected to earn profits through that enterprise when they sent ETH to The DAO’s Ethereum Blockchain address in exchange for DAO Tokens. “[P]rofits” include “dividends, other periodic payments, or the increased value of the investment.”\n\nIt is pretty clear here that this requirement of the Howey ruling again applies to the DAO and its contributors, thus leading towards the SEC’s decision.\n\nThe investment of money is in a common enterprise:\n\nFor this one, we do not need to go to the SEC. It seems rather obvious that the contributors were all participating in a common enterprise. So we have met three of the requirements of the Howey rule.\n\nAny profit comes from the efforts of a promoter or third party:\n\nAlthough the holders of DAO tokens had some level of voting power the SEC points out that it was limited.\n\n“Investors’ profits were to be derived from the managerial efforts of others—specifically, Slock.it and its co-founders, and The DAO’s Curators.”\n\nSo, once again we see that the DAO meets this requirement of the Howey test and would be considered a security. As you have seen, the DAO token fulfils all the requirements of the Howey Act and therefore falls under the rules of the the Securities Act of 1933 (“SecuritiesAct”) and the Securities Exchange Act of 1934 (“Exchange Act”).\n\nWhy Do I Think the SEC Ruling May Be Wrong?\n\nWith all the evidence given above, the obvious question is what am I talking about? How can I say the SEC was wrong about DAO and ICOs and tokens. I think that it is a bit misleading as the SEC made its first ruling regarding tokens based only on the DAO token. There is a clear distinction between Profit Sharing tokens (like DAO) and “Utility Tokens”.\nWe have already shown how profit sharing token should be considered securities and require registration with the SEC and follow its guidelines. In the ruling, the SEC explains the ramifications of the decision and the need for regstration and what it includes. I will not get into this here.\n\nWhat the SEC is missing is the differentiation between these and other tokens that do not meet the Howey rule. Almost all of the tokens issued are for the future use of a project or platform that is being developed. It is like the “money” that will be needed to access the project and participate in the usage of that project. It is not an investment with the expectations of returns. One may argue that the tokens trade on exchanges, so aren’t they securities? I would say that the exchange is reflecting what the market perceives as the value of the future usage of the platform and not the value of the company.\n\nAfter the SEC decision was released, I discussed, through slack the issue with two ICOS. The Presearch ICO team, that is now in progress and the Kin token team that is to launch an ICO in the future. Both teams denied the issue related to their tokens as they are utility tokens and not securities and both projects will take investments from US citizens.\n\nTo be fair to the SEC and their ruling, they do say the following:\n\n“Conclusion and References for Additional Guidance\nWhether or not a particular transaction involves the offer and sale of a security— regardless of the terminology used—will depend on the facts and circumstances, including the economic realities of the transaction.”\n\nConclusion of My Thoughts on the SEC Ruling on DAO Token\n\nI hope that the SEC, given the last quote just above, looks at the different types of tokens and considers the difference. If they look at it objectively, it is hard to see how utility tokens should be classified as securities.\n \nDisclaimer: I am not a lawyer and in no way an expert on Securities Law. This is just my opinion.\n\nFor more of my thoughts, see this section of my blog: https://urbancrypto.com/category/blockchain-my-thoughts/",
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}fernandamupvoted (30.00%) @urbancrypto / ico-tokens-and-the-sec-are-tokens-considered-securities2017/07/25 09:30:54
fernandamupvoted (30.00%) @urbancrypto / ico-tokens-and-the-sec-are-tokens-considered-securities
2017/07/25 09:30:54
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}urbancryptoupvoted (100.00%) @urbancrypto / ico-tokens-and-the-sec-are-tokens-considered-securities2017/07/25 08:58:42
urbancryptoupvoted (100.00%) @urbancrypto / ico-tokens-and-the-sec-are-tokens-considered-securities
2017/07/25 08:58:42
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}urbancryptopublished a new post: ico-tokens-and-the-sec-are-tokens-considered-securities2017/07/25 08:58:42
urbancryptopublished a new post: ico-tokens-and-the-sec-are-tokens-considered-securities
2017/07/25 08:58:42
| parent author | |
| parent permlink | crypto |
| author | urbancrypto |
| permlink | ico-tokens-and-the-sec-are-tokens-considered-securities |
| title | ICO Tokens & the SEC: Are Tokens Considered Securities? |
| body |  ICO Tokens & the SEC: I am not the first one to write about this topic and I won’t be the last. I just wanted to express my opinion on the matter. That being said, I am not a securities expert, nor a lawyer, just a blogger with a perspective. For the purposes of this post, we will look at the securities laws of the United States. As you may know, almost all Initial Coin Offerings and their tokens are not open to US citizens. What is a Security According to the SEC? To begin the analysis, we first need the definition of what is defined as a security. The ramifications are serious, as any investment or purchase of an asset that is considered a security is subject to the the Securities Act of 1933 and the Securities Exchange Act of 1934 and are subject to regulation and registration with the SEC. The guidelines of what is considered securities were pretty much defined in a case in 1946, SEC v. Howey. I will not get into the specifics of the case itself but rather what the results were in determining whether an asset is considered a security. Under the Howey Test, a transaction is an investment contract if: It is an investment of money There is an expectation of profits from the investment The investment of money is in a common enterprise Any profit comes from the efforts of a promoter or third party The final factor of the Howey Test concerns whether any profit that comes from the investment is largely or wholly outside of the investor’s control. If so, then the investment might be a security. If, however, the investor’s own actions largely dictate whether an investment will be profitable, then that investment is probably not a security. (source for this text is here) What are you Buying When You Purchase Tokens Through an ICO? This is the important question when looking at tokens and the security acts. What is the actual result when you purchase tokens? What do you get? The original Initial Coin Offerings, and most that are still being presented offer you an opportunity to purchase coins that later can be used as the “fuel” of the project that is being developed. You are purchasing the right to use your tokens to access the platform being created. Many of these tokens are also listed on exchanges and increase or decrease in value over time. I believe that this is where the confusion comes from. In my opinion, the way I described the purchase of tokens, is not for the ability to trade them. In actuality, you purchase no equity in the company and have no control. You are not a shareholder, but rather a potential future user of the platform. The fluctuation of the price on the exchange should represent the market’s perception of the future value of such access to the project. The fact that there are speculators in the marketplace trading for profit should not actually make a difference and make it into a security. Where There Could be a Problem with ICO Tokens & the SEC Where I do see a possible problem is in some of the new Initial Coin offerings and what the tokens represent. There have been some Token Sales that have been structured differently than what was described above. Some are even “off-chain” offerings. When I say “off-chain”, that means that the project has nothing to do actually with the blockchain and the projects are just trying to raise money for a venture. That would not fit in the category of a traditional ICO and they should be looking for traditional Venture Capital funds. They vary in structure but have similar issues. We have seen some new ICOs that are not trying to sell future access to their platform but are offering a distribution of future profit or a buyback at a premium in the future. In my opinion, this would classify them as a security under the Howey Rule and they would be subject to the rules and regulations including registering with the SEC. ICO Tokens & the SEC Conclusion To summarise the issue of ICO Tokens & the SEC, I would say that initially there is no issue, the ICO Tokens offer future use of a platform with no guarantee of financial reward or profit. The trading of the tokens should be the market’s perceived value of actions token holders will have when accessing the platform. The waters begin to muddy with some of the other ICOs that are not offering this proposition. We will see what the SEC decides, but in the meantime all ICOs are careful to exclude US citizens and word their whitepapers and offerings carefully to avoid this is of their ICO Tokens & the SEC. For more of my thoughts, see this section of my blog: https://urbancrypto.com/category/blockchain-my-thoughts/ |
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"body": "\n\nICO Tokens & the SEC: I am not the first one to write about this topic and I won’t be the last. I just wanted to express my opinion on the matter. That being said, I am not a securities expert, nor a lawyer, just a blogger with a perspective. For the purposes of this post, we will look at the securities laws of the United States. As you may know, almost all Initial Coin Offerings and their tokens are not open to US citizens.\n\nWhat is a Security According to the SEC?\n\nTo begin the analysis, we first need the definition of what is defined as a security. The ramifications are serious, as any investment or purchase of an asset that is considered a security is subject to the the Securities Act of 1933 and the Securities Exchange Act of 1934 and are subject to regulation and registration with the SEC.\n\nThe guidelines of what is considered securities were pretty much defined in a case in 1946, SEC v. Howey. I will not get into the specifics of the case itself but rather what the results were in determining whether an asset is considered a security.\nUnder the Howey Test, a transaction is an investment contract if:\nIt is an investment of money\nThere is an expectation of profits from the investment\nThe investment of money is in a common enterprise\nAny profit comes from the efforts of a promoter or third party\n\nThe final factor of the Howey Test concerns whether any profit that comes from the investment is largely or wholly outside of the investor’s control. If so, then the investment might be a security. If, however, the investor’s own actions largely dictate whether an investment will be profitable, then that investment is probably not a security. (source for this text is here)\n\nWhat are you Buying When You Purchase Tokens Through an ICO?\n\nThis is the important question when looking at tokens and the security acts. What is the actual result when you purchase tokens? What do you get? The original Initial Coin Offerings, and most that are still being presented offer you an opportunity to purchase coins that later can be used as the “fuel” of the project that is being developed. You are purchasing the right to use your tokens to access the platform being created. Many of these tokens are also listed on exchanges and increase or decrease in value over time. I believe that this is where the confusion comes from.\n\nIn my opinion, the way I described the purchase of tokens, is not for the ability to trade them. In actuality, you purchase no equity in the company and have no control. You are not a shareholder, but rather a potential future user of the platform. The fluctuation of the price on the exchange should represent the market’s perception of the future value of such access to the project. The fact that there are speculators in the marketplace trading for profit should not actually make a difference and make it into a security.\n\nWhere There Could be a Problem with ICO Tokens & the SEC\n\nWhere I do see a possible problem is in some of the new Initial Coin offerings and what the tokens represent. There have been some Token Sales that have been structured differently than what was described above. Some are even “off-chain” offerings. When I say “off-chain”, that means that the project has nothing to do actually with the blockchain and the projects are just trying to raise money for a venture. That would not fit in the category of a traditional ICO and they should be looking for traditional Venture Capital funds. They vary in structure but have similar issues.\n\nWe have seen some new ICOs that are not trying to sell future access to their platform but are offering a distribution of future profit or a buyback at a premium in the future. In my opinion, this would classify them as a security under the Howey Rule and they would be subject to the rules and regulations including registering with the SEC.\n\nICO Tokens & the SEC Conclusion\n\nTo summarise the issue of ICO Tokens & the SEC, I would say that initially there is no issue, the ICO Tokens offer future use of a platform with no guarantee of financial reward or profit. The trading of the tokens should be the market’s perceived value of actions token holders will have when accessing the platform. The waters begin to muddy with some of the other ICOs that are not offering this proposition. We will see what the SEC decides, but in the meantime all ICOs are careful to exclude US citizens and word their whitepapers and offerings carefully to avoid this is of their ICO Tokens & the SEC.\n\n\nFor more of my thoughts, see this section of my blog: https://urbancrypto.com/category/blockchain-my-thoughts/",
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}urbancryptoreceived 0.016 SBD, 0.014 SP author reward for @urbancrypto / press-release-act-dao-presale2017/07/24 10:41:09
urbancryptoreceived 0.016 SBD, 0.014 SP author reward for @urbancrypto / press-release-act-dao-presale
2017/07/24 10:41:09
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}smasherupvoted (5.00%) @urbancrypto / why-do-ico-companies-continue-to-use-slack2017/07/23 15:39:39
smasherupvoted (5.00%) @urbancrypto / why-do-ico-companies-continue-to-use-slack
2017/07/23 15:39:39
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}velimirupvoted (1.00%) @urbancrypto / why-do-ico-companies-continue-to-use-slack2017/07/23 15:39:39
velimirupvoted (1.00%) @urbancrypto / why-do-ico-companies-continue-to-use-slack
2017/07/23 15:39:39
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}shakaupvoted (5.00%) @urbancrypto / why-do-ico-companies-continue-to-use-slack2017/07/23 15:35:06
shakaupvoted (5.00%) @urbancrypto / why-do-ico-companies-continue-to-use-slack
2017/07/23 15:35:06
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2017/07/23 14:47:24
| parent author | urbancrypto |
| parent permlink | why-do-ico-companies-continue-to-use-slack |
| author | cryptomarketer |
| permlink | re-urbancrypto-why-do-ico-companies-continue-to-use-slack-20170723t144722572z |
| title | |
| body | some companies are turning into Discord... On the other hand the community managers and users on Slack ALWAYS mention to take ICOs addresses only from the official website and to ignore any other info posted on channels... I think if someone is joining the community and not paying attention to it, being naive, and not doing any due diligence of how the ICOs world works... they are kind of asking to be scammed....... |
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"body": "some companies are turning into Discord... On the other hand the community managers and users on Slack ALWAYS mention to take ICOs addresses only from the official website and to ignore any other info posted on channels... I think if someone is joining the community and not paying attention to it, being naive, and not doing any due diligence of how the ICOs world works... they are kind of asking to be scammed.......",
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}urbancryptoupvoted (100.00%) @urbancrypto / why-do-ico-companies-continue-to-use-slack2017/07/23 14:39:45
urbancryptoupvoted (100.00%) @urbancrypto / why-do-ico-companies-continue-to-use-slack
2017/07/23 14:39:45
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urbancryptopublished a new post: why-do-ico-companies-continue-to-use-slack
2017/07/23 14:39:45
| parent author | |
| parent permlink | crypto |
| author | urbancrypto |
| permlink | why-do-ico-companies-continue-to-use-slack |
| title | Why do ICO Companies Continue to use Slack? |
| body | I want to begin by saying that the Slack app is a very valuable application and allows for the management of community communications in an orderly and efficient manner. The community manager can set various channels within their slack channel that allows segregated posts, some allowed for the company only and some for general participation. I started joining various slack channels as I started following ICOs as it is the easiest way to get real time information from the company. The companies have moderators that are available to answer all kinds of questions and concerns. From missing contributions to just questions about the ICO, they can answer. It has also been a big tool for me as a blogger and writer about ICOs to get accurate data from the company directly. Slack and Security Issues Built in the slack application, is the slackbot which can send messages to you directly. What has been happening is that the slackbot is sending scammy messages in these groups. Posting incorrect ETH addresses and asking you to take some action not authorised by the company. They have been guilty of massive phishing. The simple question is, why do these companies continue to use Slack as the manner of communication if this issue is known. I spoke to the CEO of one of the current ICOs and he said that it is difficult to migrate the slack participants to another solution. He added that there really is not another solution that meets the requirements. He had already turned off the slackbot functionality. We will have to see if companies continue to use this app for their communities and communicating with them in the future. Is there a comparable app out there? There has to be a better solution. Just my thoughts. Cheers! |
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"body": "I want to begin by saying that the Slack app is a very valuable application and allows for the management of community communications in an orderly and efficient manner. The community manager can set various channels within their slack channel that allows segregated posts, some allowed for the company only and some for general participation.\n\nI started joining various slack channels as I started following ICOs as it is the easiest way to get real time information from the company. The companies have moderators that are available to answer all kinds of questions and concerns. From missing contributions to just questions about the ICO, they can answer.\n\nIt has also been a big tool for me as a blogger and writer about ICOs to get accurate data from the company directly.\n\n\nSlack and Security Issues\n\nBuilt in the slack application, is the slackbot which can send messages to you directly. What has been happening is that the slackbot is sending scammy messages in these groups. Posting incorrect ETH addresses and asking you to take some action not authorised by the company. They have been guilty of massive phishing.\n\nThe simple question is, why do these companies continue to use Slack as the manner of communication if this issue is known. I spoke to the CEO of one of the current ICOs and he said that it is difficult to migrate the slack participants to another solution. He added that there really is not another solution that meets the requirements. He had already turned off the slackbot functionality.\n\nWe will have to see if companies continue to use this app for their communities and communicating with them in the future. Is there a comparable app out there? There has to be a better solution.\n\nJust my thoughts.\n\nCheers!",
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}2017/07/20 10:05:21
2017/07/20 10:05:21
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}2017/07/20 10:04:00
2017/07/20 10:04:00
| parent author | davidwallace |
| parent permlink | re-urbancrypto-if-fiat-replaced-the-gold-standard-why-can-t-cryptocurrencies-replace-fiat-20170720t095536984z |
| author | urbancrypto |
| permlink | re-davidwallace-re-urbancrypto-if-fiat-replaced-the-gold-standard-why-can-t-cryptocurrencies-replace-fiat-20170720t100405530z |
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| body | I agree that the government won't give up control, but is cryptocurrency worse than FIAT? Will adoption grow? Where casn Crypto go in terms of value? |
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"body": "I agree that the government won't give up control, but is cryptocurrency worse than FIAT? Will adoption grow? Where casn Crypto go in terms of value?",
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}2017/07/20 09:55:36
2017/07/20 09:55:36
| parent author | urbancrypto |
| parent permlink | if-fiat-replaced-the-gold-standard-why-can-t-cryptocurrencies-replace-fiat |
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| permlink | re-urbancrypto-if-fiat-replaced-the-gold-standard-why-can-t-cryptocurrencies-replace-fiat-20170720t095536984z |
| title | |
| body | Government like control. Government could control the gold standard in ways however FIAT is more controllable than the gold standard and bitcoin/ crypto. They won't wanna let go of control |
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"body": "Government like control. Government could control the gold standard in ways however FIAT is more controllable than the gold standard and bitcoin/ crypto. They won't wanna let go of control",
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}2017/07/20 09:47:00
2017/07/20 09:47:00
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}urbancryptopublished a new post: if-fiat-replaced-the-gold-standard-why-can-t-cryptocurrencies-replace-fiat2017/07/20 09:47:00
urbancryptopublished a new post: if-fiat-replaced-the-gold-standard-why-can-t-cryptocurrencies-replace-fiat
2017/07/20 09:47:00
| parent author | |
| parent permlink | crypto |
| author | urbancrypto |
| permlink | if-fiat-replaced-the-gold-standard-why-can-t-cryptocurrencies-replace-fiat |
| title | If FIAT Replaced the Gold Standard, Why Can’t Cryptocurrencies Replace FIAT? |
| body | History of “Money” Just a quick note, we use the word “money” very loosely in this heading as Gold is obviously not money and some argue that cryptocurrency is not as well. It is used only as a means to express the use of something as a means of value to procure something else. Investopedia’s article What is the gold standard? Goes through the history of Gold and the Gold standard and how it was replaced by what we now use, FIAT currencies. We will give provide you with the definition of the Gold Standard from the article but suggest reading the article in full as it is quite comprehensive. Here is the definition that Investopedia gives for the gold standard: “The gold standard is a monetary system where a country’s currency or paper money has a value directly linked to gold. With the gold standard, countries agreed to convert paper money into a fixed amount of gold. A country that uses the gold standard sets a fixed price for gold and buys and sells gold at that price. That fixed price is used to determine the value of the currency. For example, if the U.S. sets the price of gold at $500 an ounce, the value of the dollar would be 1/500th of an ounce of gold.” What is Currency? One of Wikipedia’s definitions of Currency is: ” Currencies can be classified into two monetary systems: fiat money and commodity money, depending on what guarantees the value (the economy at large vs. the government’s physical metal reserves).” Wikipedia also defines Commodity Money as: “A commodity money system is a monetary system in which a commodity such as gold is made the unit of value and physically used as money. The money retains its value because of its physical properties. In some cases, a government may stamp a metal coin with a face, value or mark that indicates its weight or asserts its purity, but the value remains the same even if the coin is melted down.” Is Gold a Commodity? Gold became the measure of worth in the past since it was rare and since thousands of years ago captivated the desires and wantings of the world. It was the almighty when it came to “value”. I would concur that if the world accepted this premise then Gold makes sense to have been the first “Commodity Money”. It was the ultimate commodity with physical properties that retained its value partly because of its scarcity. Gold became the measure of worth in the past since it was rare and since thousands of years ago captivated the desires and wantings of the world. It was the almighty when it came to “value”. I would concur that if the world accepted this premise then Gold makes sense to have been the first “Commodity Money”. It was the ultimate commodity with physical properties that retained its value partly because of its scarcity. One thing that always has bothered me is that I find it hard to understand the value of gold to the average person of hundreds or thousands of years ago. Let me give you an example: If I was a farmer and produced various crops, I would want to exchange those crops for something else of value. A barter system that allows me to go to the general store and exchange my crops for others that I need say milk, material and all other goods makes sense to me. The exchange rate would be set by the store based on the quantities available and the demand for such items. Of course, the store owner would leave a little room for himself so he could have what to eat, support his family and keep a bit extra. This is the original barter method. In my opinion, this exchange method would in a way make all commodities a “currency” as they had their own value based on simple supply and demand. Now we have gold come into the picture. My crops can be exchanged for Gold, which I can now use as currency. The Gold itself is useless to me, as I can not eat it, heat my house or fulfil any other of my needs. I can, however, go to a store and exchange the gold for items that I need. The store owner now can do the same as I did with his gold. So far so good. What happens when there is a scarcity of gold? The answer would actually be the inflation of the gold value which in turn devalues my commodities. I now have less value than before. In a perfect world, this affects everyone and all items come down in cost, in gold terms, and I can move along with my daily activities. We know however that this does not always happen and this can cause poverty. The people that hold the gold become “richer” and many others become “poorer”. The farmer can not purchase what he needs to properly do his work and it has a massive effect on his life. Now, I’ll give you this, this can happen in any “currency” situation. But the limited supply of gold in the world lends itself to this problem. As the issue of gold and its scarcity became more of an issue, the world switched to the FIAT system and left the Gold Standard behind. Is FIAT a true Currency? Wikipedia explains that there is another definition of currency: “A more general definition is that a currency is a system of money (monetary units) in common use, especially in a nation. Under this definition, US dollars, British pounds, Australian dollars, and European euros are examples of currency. These various currencies are recognised stores of value and are traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are defined by governments, and each type has limited boundaries of acceptance.” I guess the first question to determine the answer to, “Is FIAT a true currency” is to get a definition of FIAT. Once again from Wikipedia: “Fiat money is a currency established as money by government regulation or law. The term derives from the Latin fiat (“let it become”, “it will become”)[ used in the sense of an order or decree.” It seems obvious that by the second definition of currency, FIAT is a currency. Once again this confuses me, the government decides to issue currency, on its own and decrees that it is legal tender. There does not have to be anything that backs the currency but it has value by government decree. This is more troublesome than the Gold Standard, at least with the Gold standard we had something backing the value. The understanding of how FIAT retains value is that it is pegged against other currencies from other values. It has become widely accepted that the US dollar is the currency that others are pegged against. Here I run into more problems. The US Government can print money when it pleases (actually borrowing from the Federal Reserve, but that is a whole different discussion) and distributes it. The problem to me is obvious, printing trillions of dollars with no commodity backing it, how does it have value? This can cause high inflation and the dollar itself loses value over time. From my little understanding, this also contributes to our Federal Deficit. We owe China who knows how much money because they actually produce commodities that have value and we have currency with no commodity behind it. So my question is, is the US dollar (and other FIAT Currencies) truly currency. Introduction of Cryptocurrency Let’s stay consistent and take the definition or value proposition again from Wikipedia: “Decentralized cryptocurrency is produced by the entire cryptocurrency system collectively, at a rate which is defined when the system is created and which is publicly known. In centralized banking and economic systems such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units of fiat money or demanding additions to digital banking ledgers. In case of decentralized cryptocurrency, companies or governments cannot produce new units, and have not so far provided backing for other firms, banks or corporate entities which hold asset value measured in it. The underlying technical system upon which decentralized cryptocurrencies are based was created by the group or individual known as Satoshi Nakamoto.” So, cryptocurrency, does not have the downside of the FIAT currencies as in general they are predetermined with no given value (using Bitcoin as an example) and the value is determined by the decentralized community that uses it. It is starting to sound to me like cryptocurrency works more like the barter system than a Gold-Backed, or FIAT currency. I will exchange my cryptocurrency for the value I am comfortable with and will fulfil my needs. We as a community, again based on our needs, will determine the value of the cryptocurrency and not some centralized power, like a government. Seems pretty novel. There are many cryptocurrencies now and they continue to introduce new ones. Some have the characteristics defined above and others are slightly different. I am not saying that cryptocurrency does not have some of the same issues that the other types of currencies we have discussed but in no way does it seem to me to be worse.So the question remains, will the adoption of cryptocurrencies continue and can Cryptocurrencies Replace FIAT. Disclaimer: I am not in any way an expert on these topics, nor am I an economist, I am far from it. I am simply a person that does not understand the FIAT and Gold Standard models and is more comfortable with the concept of cryptocurrency. I would be happy if you commented below, we will publish these comments, but please do not be too harsh on me :-). Cheers. https://urbancrypto.com/ |
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"body": "History of “Money”\n\nJust a quick note, we use the word “money” very loosely in this heading as Gold is obviously not money and some argue that cryptocurrency is not as well. It is used only as a means to express the use of something as a means of value to procure something else.\n\nInvestopedia’s article What is the gold standard? Goes through the history of Gold and the Gold standard and how it was replaced by what we now use, FIAT currencies. We will give provide you with the definition of the Gold Standard from the article but suggest reading the article in full as it is quite comprehensive. Here is the definition that Investopedia gives for the gold standard:\n\n“The gold standard is a monetary system where a country’s currency or paper money has a value directly linked to gold. With the gold standard, countries agreed to convert paper money into a fixed amount of gold. A country that uses the gold standard sets a fixed price for gold and buys and sells gold at that price. That fixed price is used to determine the value of the currency. For example, if the U.S. sets the price of gold at $500 an ounce, the value of the dollar would be 1/500th of an ounce of gold.”\n\nWhat is Currency?\n\nOne of Wikipedia’s definitions of Currency is:\n\n” Currencies can be classified into two monetary systems: fiat money and commodity money, depending on what guarantees the value (the economy at large vs. the government’s physical metal reserves).”\n\nWikipedia also defines Commodity Money as:\n\n“A commodity money system is a monetary system in which a commodity such as gold is made the unit of value and physically used as money. The money retains its value because of its physical properties. In some cases, a government may stamp a metal coin with a face, value or mark that indicates its weight or asserts its purity, but the value remains the same even if the coin is melted down.”\n\nIs Gold a Commodity?\n\nGold became the measure of worth in the past since it was rare and since thousands of years ago captivated the desires and wantings of the world. It was the almighty when it came to “value”. I would concur that if the world accepted this premise then Gold makes sense to have been the first “Commodity Money”. It was the ultimate commodity with physical properties that retained its value partly because of its scarcity.\n\nGold became the measure of worth in the past since it was rare and since thousands of years ago captivated the desires and wantings of the world. It was the almighty when it came to “value”. I would concur that if the world accepted this premise then Gold makes sense to have been the first “Commodity Money”. It was the ultimate commodity with physical properties that retained its value partly because of its scarcity.\n\nOne thing that always has bothered me is that I find it hard to understand the value of gold to the average person of hundreds or thousands of years ago. Let me give you an example:\n\nIf I was a farmer and produced various crops, I would want to exchange those crops for something else of value. A barter system that allows me to go to the general store and exchange my crops for others that I need say milk, material and all other goods makes sense to me. The exchange rate would be set by the store based on the quantities available and the demand for such items. Of course, the store owner would leave a little room for himself so he could have what to eat, support his family and keep a bit extra. This is the original barter method. In my opinion, this exchange method would in a way make all commodities a “currency” as they had their own value based on simple supply and demand.\n\nNow we have gold come into the picture. My crops can be exchanged for Gold, which I can now use as currency. The Gold itself is useless to me, as I can not eat it, heat my house or fulfil any other of my needs. I can, however, go to a store and exchange the gold for items that I need. The store owner now can do the same as I did with his gold. So far so good. What happens when there is a scarcity of gold? The answer would actually be the inflation of the gold value which in turn devalues my commodities. I now have less value than before. In a perfect world, this affects everyone and all items come down in cost, in gold terms, and I can move along with my daily activities. We know however that this does not always happen and this can cause poverty. The people that hold the gold become “richer” and many others become “poorer”. The farmer can not purchase what he needs to properly do his work and it has a massive effect on his life.\n\nNow, I’ll give you this, this can happen in any “currency” situation. But the limited supply of gold in the world lends itself to this problem. As the issue of gold and its scarcity became more of an issue, the world switched to the FIAT system and left the Gold Standard behind.\n\nIs FIAT a true Currency?\n\nWikipedia explains that there is another definition of currency:\n\n“A more general definition is that a currency is a system of money (monetary units) in common use, especially in a nation. Under this definition, US dollars, British pounds, Australian dollars, and European euros are examples of currency. These various currencies are recognised stores of value and are traded between nations in foreign exchange markets, which determine the relative values of the different currencies. Currencies in this sense are defined by governments, and each type has limited boundaries of acceptance.”\n\nI guess the first question to determine the answer to, “Is FIAT a true currency” is to get a definition of FIAT. Once again from Wikipedia:\n\n“Fiat money is a currency established as money by government regulation or law. The term derives from the Latin fiat (“let it become”, “it will become”)[ used in the sense of an order or decree.”\n\nIt seems obvious that by the second definition of currency, FIAT is a currency. Once again this confuses me, the government decides to issue currency, on its own and decrees that it is legal tender. There does not have to be anything that backs the currency but it has value by government decree. This is more troublesome than the Gold Standard, at least with the Gold standard we had something backing the value. The understanding of how FIAT retains value is that it is pegged against other currencies from other values. It has become widely accepted that the US dollar is the currency that others are pegged against.\n\nHere I run into more problems. The US Government can print money when it pleases (actually borrowing from the Federal Reserve, but that is a whole different discussion) and distributes it. The problem to me is obvious, printing trillions of dollars with no commodity backing it, how does it have value? This can cause high inflation and the dollar itself loses value over time. From my little understanding, this also contributes to our Federal Deficit. We owe China who knows how much money because they actually produce commodities that have value and we have currency with no commodity behind it. So my question is, is the US dollar (and other FIAT Currencies) truly currency.\n\nIntroduction of Cryptocurrency\n\nLet’s stay consistent and take the definition or value proposition again from Wikipedia:\n\n“Decentralized cryptocurrency is produced by the entire cryptocurrency system collectively, at a rate which is defined when the system is created and which is publicly known. In centralized banking and economic systems such as the Federal Reserve System, corporate boards or governments control the supply of currency by printing units of fiat money or demanding additions to digital banking ledgers. In case of decentralized cryptocurrency, companies or governments cannot produce new units, and have not so far provided backing for other firms, banks or corporate entities which hold asset value measured in it. The underlying technical system upon which decentralized cryptocurrencies are based was created by the group or individual known as Satoshi Nakamoto.”\n\nSo, cryptocurrency, does not have the downside of the FIAT currencies as in general they are predetermined with no given value (using Bitcoin as an example) and the value is determined by the decentralized community that uses it. It is starting to sound to me like cryptocurrency works more like the barter system than a Gold-Backed, or FIAT currency. I will exchange my cryptocurrency for the value I am comfortable with and will fulfil my needs. We as a community, again based on our needs, will determine the value of the cryptocurrency and not some centralized power, like a government. Seems pretty novel. There are many cryptocurrencies now and they continue to introduce new ones. Some have the characteristics defined above and others are slightly different.\n\nI am not saying that cryptocurrency does not have some of the same issues that the other types of currencies we have discussed but in no way does it seem to me to be worse.So the question remains, will the adoption of cryptocurrencies continue and can Cryptocurrencies Replace FIAT.\n\nDisclaimer: I am not in any way an expert on these topics, nor am I an economist, I am far from it. I am simply a person that does not understand the FIAT and Gold Standard models and is more comfortable with the concept of cryptocurrency.\nI would be happy if you commented below, we will publish these comments, but please do not be too harsh on me :-).\nCheers.\n\nhttps://urbancrypto.com/",
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}2017/07/20 09:06:09
2017/07/20 09:06:09
| parent author | urbancrypto |
| parent permlink | cryptocurrency-security-not-keeping-up-with-the-blockchain |
| author | lig007 |
| permlink | re-urbancrypto-cryptocurrency-security-not-keeping-up-with-the-blockchain-20170720t090607952z |
| title | |
| body | Good points. The blockchain itself can have great security, but there can be other weak links in the chain like wallets. We are a long way from general public adoption with these issues. |
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}lig007upvoted (100.00%) @urbancrypto / cryptocurrency-security-not-keeping-up-with-the-blockchain2017/07/20 09:03:06
lig007upvoted (100.00%) @urbancrypto / cryptocurrency-security-not-keeping-up-with-the-blockchain
2017/07/20 09:03:06
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}infobotupvoted (100.00%) @urbancrypto / cryptocurrency-security-not-keeping-up-with-the-blockchain2017/07/20 08:22:48
infobotupvoted (100.00%) @urbancrypto / cryptocurrency-security-not-keeping-up-with-the-blockchain
2017/07/20 08:22:48
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}slorunnerupvoted (100.00%) @urbancrypto / cryptocurrency-security-not-keeping-up-with-the-blockchain2017/07/20 08:22:42
slorunnerupvoted (100.00%) @urbancrypto / cryptocurrency-security-not-keeping-up-with-the-blockchain
2017/07/20 08:22:42
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}smasherupvoted (15.00%) @urbancrypto / cryptocurrency-security-not-keeping-up-with-the-blockchain2017/07/20 08:22:42
smasherupvoted (15.00%) @urbancrypto / cryptocurrency-security-not-keeping-up-with-the-blockchain
2017/07/20 08:22:42
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2017/07/20 08:22:42
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}cryptosupvoted (10.00%) @urbancrypto / cryptocurrency-security-not-keeping-up-with-the-blockchain2017/07/20 08:21:42
cryptosupvoted (10.00%) @urbancrypto / cryptocurrency-security-not-keeping-up-with-the-blockchain
2017/07/20 08:21:42
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}shakaupvoted (15.00%) @urbancrypto / cryptocurrency-security-not-keeping-up-with-the-blockchain2017/07/20 08:20:33
shakaupvoted (15.00%) @urbancrypto / cryptocurrency-security-not-keeping-up-with-the-blockchain
2017/07/20 08:20:33
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}urbancryptoupvoted (100.00%) @urbancrypto / cryptocurrency-security-not-keeping-up-with-the-blockchain2017/07/20 07:52:30
urbancryptoupvoted (100.00%) @urbancrypto / cryptocurrency-security-not-keeping-up-with-the-blockchain
2017/07/20 07:52:30
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}urbancryptopublished a new post: cryptocurrency-security-not-keeping-up-with-the-blockchain2017/07/20 07:52:30
urbancryptopublished a new post: cryptocurrency-security-not-keeping-up-with-the-blockchain
2017/07/20 07:52:30
| parent author | |
| parent permlink | crypto |
| author | urbancrypto |
| permlink | cryptocurrency-security-not-keeping-up-with-the-blockchain |
| title | Cryptocurrency Security not Keeping up with the Blockchain |
| body |  When Bitcoin and the Blockchain were introduced into the market place, one of the most attractive parts of the design was the security of the data and the near in-hackability of the data, this does not seem to be echoed in the Cryptocurrency security itself. When Bitcoin was created there was a need for wallets to hold the Bitcoins and so they were created. As the number of Cryptocurrencies grew, so did the different offerings of many wallets enter the marketplace. The next step in the evolution of this Blockchain world has been the advent of Initial Coin Offerings, where blockchain based companies and their projects offer tokens to the marketplace for future use on their blockchain based technology based projects. There has been over $1 billion in contributions so far this year in capital raised through these crowdsales and there seems to be no slowing down. Cryptocurrency Security & Transfers to ICOs We have followed the issues that Insurex had during its ICO that eventually led to the ICO being halted. There was a hacker or group of hackers that stole large amounts of ETH during the crowdsale. InsureX is still trying to recover. We then saw the story of CoinDash and their ICO being hacked which has resulted in stolen ETH reported from 7 – 10 million dollars. Another good source for information on this attack is from our friends at BitcoinChaser here: http://bitcoinchaser.com/ico-hub/coindash-hack One of the cases we have been following is a crossover between security for ICOs and crypto-wallets, the story of the MyEtherWallet Phishing. Many of the ICO companies have been hacked and sending out fake emails from their slackbots to all registered informing them to take action regarding their MyEtherWallet accounts to ensure security. When the link is clicked, funds have been stolen from the wallets. This has been going on and continues to go on as we speak. Cryptocurrency Security & Wallets As we mentioned above there have been many issues with the cryptocurrency security related to wallets in the past and it continues as we move along. The latest such attack is one of the biggest and attention grabbing that we have seen. Hackers have stolen approximately $32 million in ETH from 3 Parity Multisig Wallets. According to tweets published by Proof of Existence creator Manual Araoz, the multisig wallets affected by this hack includes: Edgeless Casino (@edgelessproject) Swarm City (@swarmcitydapp) æternity blockchain (@aetrnty) Two good sources for the details of the hack are: http://bitcoinchaser.com/parity-multi-sig-wallet-hack http://www.financemagnates.com/cryptocurrency/news/hacker-stoles-32-million-worth-ethereum-3-multisig-wallets/ Cryptocurrency Security Conclusion So the trend continues, as the peripherals to the Blockchain and its built in security protocols can not be upheld by the ICO companies offerings and the Wallets that hold the cryptocurrencies. There is obviously a strong need in these markets for an immediate investigation and improvement in their security measures to ensure that Users and Contributors do not lose confidence in the system as a whole. More posts like this at https://urbancrypto.com/ |
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"body": "\n\nWhen Bitcoin and the Blockchain were introduced into the market place, one of the most attractive parts of the design was the security of the data and the near in-hackability of the data, this does not seem to be echoed in the Cryptocurrency security itself.\n\nWhen Bitcoin was created there was a need for wallets to hold the Bitcoins and so they were created. As the number of Cryptocurrencies grew, so did the different offerings of many wallets enter the marketplace.\n\nThe next step in the evolution of this Blockchain world has been the advent of Initial Coin Offerings, where blockchain based companies and their projects offer tokens to the marketplace for future use on their blockchain based technology based projects. There has been over $1 billion in contributions so far this year in capital raised through these crowdsales and there seems to be no slowing down.\n \nCryptocurrency Security & Transfers to ICOs\n\nWe have followed the issues that Insurex had during its ICO that eventually led to the ICO being halted. There was a hacker or group of hackers that stole large amounts of ETH during the crowdsale. InsureX is still trying to recover.\nWe then saw the story of CoinDash and their ICO being hacked which has resulted in stolen ETH reported from 7 – 10 million dollars. Another good source for information on this attack is from our friends at BitcoinChaser here: http://bitcoinchaser.com/ico-hub/coindash-hack\n\nOne of the cases we have been following is a crossover between security for ICOs and crypto-wallets, the story of the MyEtherWallet Phishing. Many of the ICO companies have been hacked and sending out fake emails from their slackbots to all registered informing them to take action regarding their MyEtherWallet accounts to ensure security. When the link is clicked, funds have been stolen from the wallets. This has been going on and continues to go on as we speak.\n\nCryptocurrency Security & Wallets\n\nAs we mentioned above there have been many issues with the cryptocurrency security related to wallets in the past and it continues as we move along. The latest such attack is one of the biggest and attention grabbing that we have seen.\nHackers have stolen approximately $32 million in ETH from 3 Parity Multisig Wallets.\n\nAccording to tweets published by Proof of Existence creator Manual Araoz, the multisig wallets affected by this hack includes:\n\nEdgeless Casino (@edgelessproject)\nSwarm City (@swarmcitydapp)\næternity blockchain (@aetrnty)\n\nTwo good sources for the details of the hack are:\n\nhttp://bitcoinchaser.com/parity-multi-sig-wallet-hack\nhttp://www.financemagnates.com/cryptocurrency/news/hacker-stoles-32-million-worth-ethereum-3-multisig-wallets/\n\nCryptocurrency Security Conclusion\n\nSo the trend continues, as the peripherals to the Blockchain and its built in security protocols can not be upheld by the ICO companies offerings and the Wallets that hold the cryptocurrencies. There is obviously a strong need in these markets for an immediate investigation and improvement in their security measures to ensure that Users and Contributors do not lose confidence in the system as a whole.\n\nMore posts like this at https://urbancrypto.com/",
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}urbancryptoreceived 0.011 SBD, 0.014 SP author reward for @urbancrypto / harsh-eth-volatility-are-icos-screwed2017/07/19 15:41:12
urbancryptoreceived 0.011 SBD, 0.014 SP author reward for @urbancrypto / harsh-eth-volatility-are-icos-screwed
2017/07/19 15:41:12
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}2017/07/18 14:38:51
2017/07/18 14:38:51
| parent author | urbancrypto |
| parent permlink | press-release-act-dao-presale |
| author | joncreasy |
| permlink | re-urbancrypto-press-release-act-dao-presale-20170718t143807335z |
| title | |
| body | I've been working with Fraser for several months now, and am extremely impressed with his vision and the product ACT will become. I highly recommend participating in the ICO if you can! |
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}2017/07/18 14:38:06
2017/07/18 14:38:06
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| parent permlink | press-release-act-dao-presale |
| author | joncreasy |
| permlink | re-urbancrypto-press-release-act-dao-presale-20170718t143807335z |
| title | |
| body | I've been working with Fraser for several months now, and am extremely impressed with his vision and the product ACT will become. I highly recommend participating in the ICO if you can! |
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"body": "I've been working with Fraser for several months now, and am extremely impressed with his vision and the product ACT will become. I highly recommend participating in the ICO if you can!",
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}joncreasyupvoted (100.00%) @urbancrypto / press-release-act-dao-presale2017/07/18 14:36:51
joncreasyupvoted (100.00%) @urbancrypto / press-release-act-dao-presale
2017/07/18 14:36:51
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}urbancryptoupvoted (100.00%) @urbancrypto / press-release-rootproject-pre-ico-extended2017/07/18 09:50:24
urbancryptoupvoted (100.00%) @urbancrypto / press-release-rootproject-pre-ico-extended
2017/07/18 09:50:24
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}urbancryptopublished a new post: press-release-rootproject-pre-ico-extended2017/07/18 09:50:24
urbancryptopublished a new post: press-release-rootproject-pre-ico-extended
2017/07/18 09:50:24
| parent author | |
| parent permlink | crypto |
| author | urbancrypto |
| permlink | press-release-rootproject-pre-ico-extended |
| title | Press Release: RootProject Pre-ICO Extended |
| body | July 18, 2017 via rootstoken.slack.com By: Dr. Nicholas Adams Judge Hey @everyone, A BIG announcement. Thanks for all your incredible help during the past ten days! We met our goal, in really, really difficult market conditions. We’re so proud of the team that’s come together and all we’ve accomplished. Together, We’ve raised 122% of our goal, with a mean contribution of just 3.75 ether. I think we’ve made @wilcoxen happy We’ve translated our material into a large number of languages We’ve built a 720 person community here on Slack, making our first hires and brought some really dedicated volunteers together with incredible bounty campaigners. We’ve generated interest among some very big names and powerful players We’ve refined our message and learned from one another. Anton, Chris and I are proud of our role in that, as well. But, we made one big mistake: In trying to adhere to the lessons Chris and I have learned the hard way from our tech start ups (release early, go fast, iterate) we underestimated the necessary time lag involved when organizing a campaign. We knew from shopping around the whitepaper that we had a powerful idea that a community could rally around. But we went TOO fast. You guys probably recall last Wednesday, the lull from the first excitement but the day before we got our material up on some listing sites, and started communicating our ideas better to the public. That made Thursday, Friday and today all the better. But we still were left with only three business days with this organization fully up and running. It seems almost absurd to get such a team up and running and then use it fully for just three weekdays, only to pause until the ICO. So, Chris, Anton and I talked about it, and we’ve decided to extend the pre-ICO until the following Friday, the 28th. The team is in place, the work is being done, and why stop? Learning from our mistake – and concerned about BIP 148 – we’re also pushing the ICO itself back to Tuesday, September 5th, the day after Labor Day. Important things to know: We will accelerate the release of the tokens relative to the ICO. So, this delay will only push the release of the tokens back 4-5 days from the originally promised date. (pushing the ICO back a bit less than 4 weeks, but the token release date up three weeks, relative to the ICO end date). We will remove the hard cap of $300k. If donations accelerate too much, we will close it down, as we don’t want to let a market-significant share of tokens be awarded a 50% premium. We want to have the time and resources to have a truly world-class ICO. We’re going to keep working just as hard at it. We will begin major development projects and more hiring now, not at the end of the pre-ICO. We’ve got some surprises in store when it comes to the MVP and its release date, relative to the ICO : Let’s have an open discussion about this in our community: If anyone has any points they’d like to discuss please let us know. Thanks for your support. It seems surreal to say this team didn’t even exist the Thursday before last. What we’ve done in ten days is incredible. I’m as excited for the next few months as any time in my life! ~Nick (and Anton, Chris Ashley, Zac and Alex) |
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"body": "July 18, 2017\nvia rootstoken.slack.com\nBy: Dr. Nicholas Adams Judge\n\nHey @everyone, A BIG announcement. Thanks for all your incredible help during the past ten days! We met our goal, in really, really difficult market conditions. We’re so proud of the team that’s come together and all we’ve accomplished. Together,\n\nWe’ve raised 122% of our goal, with a mean contribution of just 3.75 ether. I think we’ve made @wilcoxen happy\nWe’ve translated our material into a large number of languages\nWe’ve built a 720 person community here on Slack, making our first hires and brought some really dedicated volunteers together with incredible bounty campaigners.\nWe’ve generated interest among some very big names and powerful players\nWe’ve refined our message and learned from one another.\n\nAnton, Chris and I are proud of our role in that, as well. But, we made one big mistake: In trying to adhere to the lessons Chris and I have learned the hard way from our tech start ups (release early, go fast, iterate) we underestimated the necessary time lag involved when organizing a campaign. We knew from shopping around the whitepaper that we had a powerful idea that a community could rally around. But we went TOO fast. You guys probably recall last Wednesday, the lull from the first excitement but the day before we got our material up on some listing sites, and started communicating our ideas better to the public. That made Thursday, Friday and today all the better. But we still were left with only three business days with this organization fully up and running.\n\nIt seems almost absurd to get such a team up and running and then use it fully for just three weekdays, only to pause until the ICO. So, Chris, Anton and I talked about it, and we’ve decided to extend the pre-ICO until the following Friday, the 28th. The team is in place, the work is being done, and why stop? Learning from our mistake – and concerned about BIP 148 – we’re also pushing the ICO itself back to Tuesday, September 5th, the day after Labor Day.\nImportant things to know:\n\nWe will accelerate the release of the tokens relative to the ICO. So, this delay will only push the release of the tokens back 4-5 days from the originally promised date. (pushing the ICO back a bit less than 4 weeks, but the token release date up three weeks, relative to the ICO end date).\n\nWe will remove the hard cap of $300k. If donations accelerate too much, we will close it down, as we don’t want to let a market-significant share of tokens be awarded a 50% premium. We want to have the time and resources to have a truly world-class ICO.\nWe’re going to keep working just as hard at it.\n\nWe will begin major development projects and more hiring now, not at the end of the pre-ICO. We’ve got some surprises in store when it comes to the MVP and its release date, relative to the ICO :\n\nLet’s have an open discussion about this in our community: If anyone has any points they’d like to discuss please let us know.\n\nThanks for your support. It seems surreal to say this team didn’t even exist the Thursday before last. What we’ve done in ten days is incredible. I’m as excited for the next few months as any time in my life!\n\n~Nick (and Anton, Chris Ashley, Zac and Alex)",
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}urbancryptoreceived 0.056 SBD, 0.074 SP author reward for @urbancrypto / crypto-mania-where-does-it-lead2017/07/18 04:20:42
urbancryptoreceived 0.056 SBD, 0.074 SP author reward for @urbancrypto / crypto-mania-where-does-it-lead
2017/07/18 04:20:42
| author | urbancrypto |
| permlink | crypto-mania-where-does-it-lead |
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| steem payout | 0.000 STEEM |
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}urbancryptofollowed @lukestokes2017/07/18 04:18:24
urbancryptofollowed @lukestokes
2017/07/18 04:18:24
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}2017/07/17 12:23:18
2017/07/17 12:23:18
| parent author | evilmonkey |
| parent permlink | re-urbancrypto-beware-myetherwallet-security-issues-scam-20170717t105134732z |
| author | urbancrypto |
| permlink | re-evilmonkey-re-urbancrypto-beware-myetherwallet-security-issues-scam-20170717t122321518z |
| title | |
| body | Yup!! Sometimes I am the fool. |
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}proctologicupvoted (1.00%) @urbancrypto / press-release-act-dao-presale2017/07/17 11:08:18
proctologicupvoted (1.00%) @urbancrypto / press-release-act-dao-presale
2017/07/17 11:08:18
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}ubgupvoted (1.00%) @urbancrypto / press-release-act-dao-presale2017/07/17 11:02:09
ubgupvoted (1.00%) @urbancrypto / press-release-act-dao-presale
2017/07/17 11:02:09
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