Bitcoin surges during COVID-19 pandemic, doubling price in ...

After Robinhood Suicide, Crypto Exchanges Must Stop Acting Like Casinos: bitFlyer Exec - CoinDesk

Many exchanges were designed to encourage users to trade as frequently as possible, often with money they don’t have, and resembled casinos more than responsible trading platforms, said Joel Edgerton, chief operating officer at bitFlyer U.S.
“There are too many exchanges that are run like casinos and exploit their customers,” he said.
Edgerton spoke to CoinDesk just over a week after a 20-year-old student, Alexander Kearns, killed himself after falsely believing he had got himself into more than $700,000-worth of debt by trading complex options contracts on Robinhood – an app-based trading platform with a young, retail-oriented following.
It later came to light that the negative balance was a temporary phase in between contract execution – i.e. Kearns wasn’t actually in the red. But Robinhood has come under heavy criticism for allowing amateur traders to access such complex instruments without safeguards to avoid confusion and, in this case, tragedy.
Late last week, Robinhood announced a $250,000 donation to the American Foundation for Suicide Prevention and vowed to add safeguards to its platform, such as tightening eligibility requirements for complex options trades.
See also: The Chad Index Versus Doomer Internet Money: The Breakdown Weekly Recap
While Binance’s CEO Changpeng “CZ” Zhao said in response last week that his exchange already implemented a “Responsible Trading” feature, Edgerton, a former head of operations at the insurance arm of French bank BNP Paribas, said the exchange was trying to shield itself from further criticism.
“I would say CZ’s response was mercenary. He is using a kid’s death to pitch his company and Binance is actually part of the problem,” he explained. The platform gets users hooked and their anti-addiction policy “highlights the fact that they built the product to be addictive,” he said.
Tweet: https://twitter.com/Joel_bitFlyer?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1274038400295657472%7Ctwgr%5E&ref_url=https%3A%2F%2Fwww.coindesk.com%2Fcrypto-exchanges-casinos-robinhood-suicide-bitflyer
Any crypto exchange that offered 125x leverage indiscriminately – which Binance began offering in October – isn’t serious about customer protection, Edgerton continued. BitFlyer, which opened a U.S. office in 2017, says it already restricts access to leverage and can flag or even ban users that display troubling trading patterns. The Tokyo-based exchange ranks ninth globally, according to CoinGecko, and is the market leader in Japan.
It was reported last summer a Chinese bitcoin trader killed himself after a 100x position on derivatives exchange BitMEX was liquidated, a loss of about $16.4 million in a single trade. Around the same time, an anonymous student trader said he was having suicidal thoughts after losing thousands of dollars on several leveraged trades on the same platform.
Arthur Hayes, BitMEX’s CEO, has previously defended his business, arguing that in a free market, customers can always move onto other platforms if they worry about being exploited or defrauded.
When contacted by CoinDesk, Binance declined to comment. BitMEX hadn’t responded to a similar request by press time.
See also: BitMEX Sees Biggest Short Squeeze in 8 Months After Bitcoin Surge
Cryptocurrency exchanges have more of a role to play in customer protection, Edgerton said. Regulators worldwide cap leverage for retail investors, both in crypto and in traditional assets, such as equities. Japan’s Financial Services Agency (FSA) halved maximum leverage down to two times the value of the deposit this year.
As such, there’s no reason an exchange should offer 100x leverage on top of highly volatile assets without first checking whether the investor knows what they are doing and that they have the income to cover that level of exposure, argued Edgerton.
“We have a responsibility to provide products that are suitable to our clients,” he added. The Robinhood suicide “is what happens when companies focus on tech and profits rather than doing the right thing for their customers.”
Article link: https://www.coindesk.com/crypto-exchanges-casinos-robinhood-suicide-bitflyer
submitted by egglove48 to BitcoinMarkets [link] [comments]

Daily analysis of cryptocurrencies 20191103 (Market index 56 — Neutral state)

Daily analysis of cryptocurrencies 20191103 (Market index 56 — Neutral state)

https://preview.redd.it/wfaplsepohw31.jpg?width=540&format=pjpg&auto=webp&s=762ff2fcffb07c6f23c0da9d2db581f07f283203

DAppTotal: Airdrop Of EIDOS Is A Disaster, Top Player May Profit Over Tens Of Thousands Of Dollars Citing data by DAppTotal, ever since EIDOS launched the airdrop event, the number of its 24h active users has reached 1,260, that of its 24h transactions has surpassed 1.89 million, and its 24h trading volume has registered 1,770 EOS. Such popularity has never been seen in any other EOS DApps, according to DAppTotal. Blockchain security firm PeckShield revealed that the airdrop event of EIDOS led to the price surge of CPU, which means normal EOS transactions between users could fail and most of the users are not able to play with gaming DApps under a congested EOS network. As reported by CoinNess.com earlier, the current CPU price for 1 EOS is 0.0001 EOS. Two days ago, however, one could use 1 EOS to rent 3,600 EOS for 30 days. This indicates an increase of more than 16 times because of the EIDOS hype. DAppTotal researchers found that as of now, players have made 35.83 million transactions, containing 3.39 million EIDOS tokens, to the account ‘eidosonecoin,’ 95% of which had only 0.0001 EOS sent. If a user sold all of the EIDOS tokens at peak prices, his or her earnings could be more than tens of thousands of dollars. It is really harmful to the EOS ecosystem, said the researchers.
At Least 23k Emails Leaked By BitMEX, Claims Research Director At The Block Larry Cermak, Director of Research at The Block, tweeted, “I now have access to 23,000 emails that were leaked by BitMEX. Surprisingly, there is only one person that used a .gov email. There were 66 students/alumni that used .edu email. NYU dominates (7 people), followed by Berkley, and University of Michigan.” BitMEX has previously made a response to the leaked email address in its blog post, saying that in this instance, beyond email addresses, no other personal data or account information has been disclosed and no further emails have been sent. “The error which has caused this has been identified and fixed, ensuring our usual high standards of privacy are upheld,” the company claimed.
Chinese VC Firms Returning To Blockchain, $368M Raised In H1, 2019 By Blockchain Startups Chinese venture capital firms are taking another look at blockchain. After the 2018 crypto crash, up to 90 percent of blockchain-focused VCs left the market. Now, as China’s central government pushes for greater blockchain adoption, some are returning. During the first six months in 2019, Chinese blockchain startups raised $368 million via 71 funding deals, according to Chinese financial data tracker 01Caijing.
https://preview.redd.it/amjdfirqohw31.png?width=473&format=png&auto=webp&s=6f116b8879f5af3122b05e95da71162f4ccae06a

This past week, there was a slow and steady decline in bitcoin below the $8,400 support against the US Dollar. Moreover, BTC price also traded below the $8,200 support area. Finally, it spiked below the $8,000 support, but remained well above the 100 simple moving average (4-hours).
A swing low was formed near $8,960 and the price recently started an upward move. There was a break above the $8,100 and $8,200 resistance levels to start a decent increase.
More importantly, there was a break above a key contracting triangle with resistance near $9,240 on the 4-hours chart of the BTC/USD pair. At the moment, the price is trading near the 23.6% Fib retracement level of the downward move from the $10,584 high to $8,960 low.
Review previous articles: https://medium.com/@to.liuwen

Encrypted project calendar(November 3, 2019)

Waltonchain (WTC): 03 November 2019 Premining Application End “Application for SMN & GMN $WTA pre-mining ends at 17:00 on Nov. 3 (UTC+8).”

Encrypted project calendar(November 4, 2019)

Stellar (XLM): 04 November 2019 Stellar Meridian Conf. Stellar Meridian conference from Nov 4–5 in Mexico City. Cappasity (CAPP): 04 November 2019 Lisbon Web Summit Lisbon Web Summit in Lisbon, Portugal from November 4–7. Aion (AION): 04 November 2019 CASCON x EVOKE 2019 CASCON x EVOKE 2019 from Nov 4–6 in Toronto. ThoreNext (THX): 04 November 2019 Migration/Swap Begins “4 Nov 2019 Migration/Swap/Issuance start Check Your email 1st Nov To facilitate a streamlined Process, we will use proprietary software…” Ocean Protocol (OCEAN): 04 November 2019 Blckchn for Science Party “Join us on Monday for bottles and (data) models at the official Blockchain for Science afterparty at @betahaus Factom (FCT): 04 November 2019 Grant Deadline “Have an idea you’ve been itching to build using #FactomProtocol? Apply for a grant (the deadline is November 4th):” Winding Tree (LIF): 04 November 2019 HackTravel London HackTravel London from November 4–6 in London.

Encrypted project calendar(November 5, 2019)

Nexus (NXS): 05 November 2019 Tritium Official Release “Remember, Remember the 5th of November, the day Tritium changed Distributed Ledger. Yes, this is an official release date.” NEM (XEM): 05 November 2019 Innovation Forum — Kyiv NEM Foundation Council Member Anton Bosenko will be speaking in the upcoming International Innovation Forum in Kyiv on November 5, 2019. TomoChain (TOMO): 05 November 2019 TomoX Testnet “Mark your calendar as TomoX testnet will be live on Tuesday, Nov 5th!” aelf (ELF): 05 November 2019 Bug Bounty Program Ends On Oct 24th, 2019 aelf’s biggest bug bounty will launch with a large reward pool. The event will run for almost 2 weeks. ICON (ICX): 05 November 2019 Seoul Meetup “We are pleased to announce that the ICON x Steem DApp SEOUL MEETUP will be held in the ICON Lounge on November 5th.” Utrust (UTK): 05 November 2019 Lisbon Meetup “We’re hosting a meetup for anyone interested in blockchain & crypto adoption! Industry leaders like Cointelegraph, BetProtocol & others…” Siacoin (SC): 05 November 2019 Zurich Meetup “Join us Tuesday, Nov 5th in Zurich for a Sia meetup with CEO David, and devs Chris and PJ at @impacthubzurich.” OKB (OKB): 05 November 2019 Simulation USDT Futures “NEW LAUNCH: The much-awaited $USDT-Margined Futures Trading will soon be available on #OKEx… Simulation launching Nov 5”

Encrypted project calendar(November 6, 2019)

STEEM/Steem: The Steem (STEEM) SteemFest 4 conference will be held in Bangkok from November 6th to 10th. KIM/Kimcoin: Kimcoin (KIM) Bitfinex will be online at KIM on November 6, 2019 at 12:00 (UTC). Nebulas (NAS): 06 November 2019 Burn Deadline “Be sure to read this announcement & burn your $NAT by November 6th, 3:00p.m. (UTC+8, Beijing time).” Power Ledger (POWR): 06 November 2019 Book Launch ATTN Perth Power Ledger community, we will be hosting renowned economist Ross Garnaut at our WA office for the launch of his latest book…

Encrypted project calendar(November 7, 2019)

XRP (XRP): 07 November 2019 Swell 2019 Ripple hosts Swell from November 7th — 8th in Singapore. BTC/Bitcoin: Malta The A.I. and Blockchain summit will be held in Malta from November 7th to 8th. Waves (WAVES): 07 November 2019 Joins Odyssey “#Waves is joining Odyssey… We’re kicking off on Nov. 7 at Polaris…” Komodo (KMD) and 1 other: 07 November 2019 Block Party Amsterdam Block Party Amsterdam in Amsterdam from 17:30–22:00. Horizen (ZEN): 07 November 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.

Encrypted project calendar(November 8, 2019)

BTC/Bitcoin: The 2nd Global Digital Mining Summit will be held in Frankfurt, Germany from October 8th to 10th. IOTX/IoTeX: IoTex (IOTX) will participate in the CES Expo on November 08 TOP (TOP): 08 November 2019 Mainnet Launch “So excited to announce that on November 8th, TOP Network will officially launch the mainnet…” OKB (OKB): 08 November 2019 OKEx Talks — Valencia “Meet us at our next OKEx Talks in Valencia on 8 Nov with speaker Gustavo Segovia @sepu85 who will look at the benefits of creating

Encrypted project calendar(November 9, 2019)

CENNZ/Centrality: Centrality (CENNZ) will meet in InsurTechNZ Connect — Insurance and Blockchain on October 9th in Auckland. HTMLCOIN (HTML): 09 November 2019 (or earlier) Mandatory Wallet Update Mandatory Wallet Update: there will be a soft fork on our blockchain. This update adds header signature verification on block 997,655.

Encrypted project calendar(November 11, 2019)

PAX/Paxos Standard: Paxos Standard (PAX) 2019 Singapore Financial Technology Festival will be held from November 11th to 15th, and Paxos Standard will attend the conference. Crypto.com Coin (CRO): and 3 others 11 November 2019 Capital Warm-up Party Capital Warm-up Party in Singapore. GoldCoin (GLC): 11 November 2019 Reverse Bitcoin Hardfork The GoldCoin (GLC) Team will be “Reverse Hard Forking” the Bitcoin (BTC) Blockchain…” Horizen (ZEN): 11 November 2019 (or earlier) Horizen Giveaway — Nodes Horizen Giveaway — Win Free Node Hosting! Entries before November 11th.

Encrypted project calendar(November 12, 2019)

BTC/Bitcoin: The CoinMarketCap Global Conference will be held at the Victoria Theatre in Singapore from November 12th to 13th Binance Coin (BNB) and 7 others: 12 November 2019 CMC Global Conference “The first-ever CoinMarketCap large-scale event: A one-of-a-kind blockchain / crypto experience like you’ve never experienced before.” Aion (AION) and 17 others: 12 November 2019 The Capital The Capital conference from November 12–13 in Singapore. Loom Network (LOOM): 12 November 2019 Transfer Gateway Update “If you have a dapp that relies on the Transfer Gateway, follow the instructions below to make sure you’re prepared.”

Encrypted project calendar(November 13, 2019)

Fetch.ai (FET): 13 November 2019 Cambridge Meetup “Join us for a @Fetch_ai #Cambridge #meetup on 13 November @pantonarms1.” Binance Coin (BNB) and 5 others: 13 November 2019 Blockchain Expo N.A. “It will bring together key industries from across the globe for two days of top-level content and discussion across 5 co-located events…” OKB (OKB): 13 November 2019 Dnipro, Ukraine- Talks Join us in Dnipro as we journey through Ukraine for our OKEx Cryptour on 11 Nov. Centrality (CENNZ): 13 November 2019 AMA Meetup “Ask our CEO @aaronmcdnz anything in person! Join the AMA meetup on 13 November in Singapore.” OKB (OKB): 13 November 2019 OKEx Cryptotour Dnipro “OKEx Cryptour Ukraine 2019 — Dnipro” in Dnipro from 6–9 PM (EET).

Encrypted project calendar(November 14, 2019)

BTC/Bitcoin: The 2019 BlockShow Asia Summit will be held at Marina Bay Sands, Singapore from November 14th to 15th. Binance Coin (BNB): and 4 others 14 November 2019 BlockShow Asia 2019 BlockShow Asia 2019 at Marina Bay Sands Expo, Singapore from November 14–15. Basic Attention Token (BAT): 14 November 2019 London Privacy Meetup “If you’re in London on Nov. 14th, don’t miss our privacy meetup! The Brave research team, our CPO @johnnyryan, as well as @UoE_EFI Horizen (ZEN): 14 November 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA. IOTA (MIOTA): 14 November 2019 Berlin Meetup From Construction to Smart City: IOTA, Maschinenraum & Thinkt Digital will explain, using concrete use cases, how to gain real value from.. Dash (DASH): 14 November 2019 Q3 Summary Call “Dash Core Group Q3 2019 Summary Call — Thursday, 14 November 2019” NEO (NEO): 14 November 2019 NeoFest Singapore Meetup “Glad to have @Nicholas_Merten from DataDash as our host for #NeoFest Singapore meetup on 14th Nov!”

Encrypted project calendar(November 15, 2019)

TRON (TRX): 15 November 2019 Cross-chain Project “The #TRON cross-chain project will be available on Nov. 15th” Bluzelle (BLZ): 15 November 2019 (or earlier) CURIE Release CURIE release expected by early November 2019. Zebi (ZCO): 15 November 2019 ZEBI Token Swap Ends “… We will give 90 days to all the ERC 20 token holders to swap out their tokens into Zebi coins.” OKB (OKB): 15 November 2019 OKEx Talks — Vilnius “Join us for a meetup on 15 Nov (Fri) for our 1st ever Talks in Vilnius, Lithuania.”

Encrypted project calendar(November 16, 2019)

Bancor (BNT): and 2 others 16 November 2019 Crypto DeFiance-Singapore “Crypto DeFiance is a new global DeFi event embracing established innovators, financial market disruptors, DApp developers…” NEM (XEM): 16 November 2019 Developer’s Event “BLOCKCHAIN: Creation of Multifirma services” from 10:50 AM — 2 PM.

Encrypted project calendar(November 17, 2019)

OKB (OKB): 17 November 2019 OKEx Talks — Lagos Join us on 17 Nov for another OKEx Talks, discussing the “Life of a Crypto Trader”.

Encrypted project calendar(November 18, 2019)

Maker (MKR): 18 November 2019 MCD Launch “BIG changes to terminology are coming with the launch of MCD on Nov. 18th Say hello to Vaults, Dai, and Sai.”

Encrypted project calendar(November 19, 2019)

Lisk (LSK): 19 November 2019 Lisk.js “We are excited to announce liskjs2019 will take place on November 19th. This all day blockchain event will include…”

Encrypted project calendar(November 20, 2019)

OKB (OKB): 20 November 2019 OKEx Cryptour Odessa Ukr “Join us in Odessa as we journey through Ukraine for our OKEx Cryptour!”

Encrypted project calendar(November 21, 2019)

Cardano (ADA): and 2 others 21 November 2019 Meetup Netherlands (AMS) “This meetup is all about how to decentralize a blockchain, the problems and differences between Proof-of-Work and Proof-of-Stake…” Cappasity (CAPP): 21 November 2019 Virtuality Paris 2019 “Cappasity to demonstrate its solution for the interactive shopping experience at Virtuality Paris 2019.” Horizen (ZEN): 21 November 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA. OKB (OKB): 21 November 2019 OKEx Talks — Johannesburg “Join us the largest city of South Africa — Johannesburg where we will host our OKEx Talks on the 21st Nov.” IOST (IOST): 22 November 2019 Singapore Workshop Join the Institute of Blockchain for their 2nd IOST technical workshop in Singapore on 22 Nov 2019. The workshop includes IOST’s key tech. OKB (OKB): 22 November 2019 St. Petersberg Talks “Join us in St. Petersberg on 22 Nov as we answer your questions on Crypto Security. “

Encrypted project calendar(November 22, 2019)

IOST (IOST): 22 November 2019 Singapore Workshop Join the Institute of Blockchain for their 2nd IOST technical workshop in Singapore on 22 Nov 2019. The workshop includes IOST’s key tech OKB (OKB): 22 November 2019 St. Petersberg Talks “Join us in St. Petersberg on 22 Nov as we answer your questions on Crypto Security. “

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submitted by liuidaxmn to u/liuidaxmn [link] [comments]

[Serious, long] My thoughts on what next for Dogecoin

There’s been a lot of discussion in recent days about the decreasing price of Dogecoin, as well as the risk of a 51% attack from Wafflepool or similar. I wanted to do a wrap-up of the discussions happening amongst the developers of the last few weeks, partly to illustrate that we are looking at options, but mostly to talk about what is happening. Please note that this is all rapidly changing. Dogecoin is actually moving at breakneck speed for a project of its size, especially as we still have a relatively limited core team. This is part of why we don’t write posts very often, as they become out of date so quickly as new arguments and facts are presented.
Lets talk about 51% attacks first. The theory is that if anyone has over 51% of the total hashing power of the network, they can form a blockchain of their own which is considered “more valid” than the blockchain most users are on. This is because cryptocurrency blockchains are secured through proof of work, and therefore more work on a chain makes it, in essence, more valid. This risks an attacker spending coins on one chain, then releasing their own private, longer, blockchain. That latter blockchain replaces the original blockchain, and the coins they spent on the original blockchain are effectively returned to them as if the transactions never happened.
It’s important to understand this because I hear suggestions that Wafflepool shouldn’t accept over 51% of the network hashrate, and unfortunately all this would do is hide the risk. Having one pool own over 51% of the network hashrate is not a problem if it’s actually being used to mine, but instead if it’s used to create a personal blockchain. The other issue raised is one of price; we’ve been steadily dropping since around early February. The core of my answers here is that you need to consider demand vs supply. What happened back in February was that we saw a surge in demand beyond sustainable levels, likely in a form of tulip mania. As supply continued (mining), and demand dropped-off, our price has dropped. This has been worsened by a succession of bad news affecting Bitcoin (MtGox and other exchanges struggling, uncertainty of China and Russia, etc.), which both directly brings down our price, as well as undermining confidence in the entire cryptocurrency ecosystem. It has been suggested (and I can believe this, but have not done my own analysis) that as multipools continue to dominate Dogecoin mining, and they tend to sell coins directly, that they are further reducing the price. Specifically, given that while there is demand for further coins from miners, as they have already expended resources on mining hardware they cannot then purchase the cheap coins the mining pools are producing.
Lastly, there’s the question of ASICs; these are specialised mining devices which are significantly faster than CPU/GPU mining hardware, and typically cheaper to run due to reduced power and space requirements. Their introduction into mining at the moment leaves vastly disproportionate mining power in the hands of a few (there’s one individual with a hashrate of around 20GH/s, for example), and in time is likely to make mining on commodity hardware infeasible.
We’ve had a lot of suggestions for what to do; change proof of work algorithm, add multiple proof of work algorithms, move to proof of stake, merge-mine with Litecoin, have DigiShield merge-mine with us. We’ve considered everything, and then some; I’m not sure how much discussion has happened in total, but I’ve spent over a dozen hours looking at these issues on IRC. In virtually all cases, the majority of people with the skills to implement these changes have rejected them as too high risk and/or having other significant drawbacks. In summary:
The best suggestion we have so far is to out-do the multipools directly, by working on open source multipool software which is more DOGE-friendly. As I understand it two key approaches are being considered for improving DOGE-friendliness; either by directly exchanging other coins to DOGE, or through improved trading algorithms which result in less sharp shocks to the price. For very large mining farms such as SFire’s, it’s hoped this will cause them to separate from the mining pools (which they pay fees to) and go solo. This reduces fees for the miner, as well as reducing the ability for DDoS attacks to be targeted at them, and for us it reduces risk of a 51% attack, improves confidence in the coin security, and enables us to better mitigate impact of people mining huge quantities to sell.
Meanwhile, the main focus is on making Dogecoin (and cryptocurrencies in general) a viable way of moving value around. The 1.7 client (beta release is imminent, and in fact if you’re comfortable compiling it yourself, the code is available from https://github.com/dogecoin/dogecoin/tree/v1.7.0-Beta-1 ) is a major re-write of Dogecoin Core to base it on the Bitcoin Core 0.9 client (with Scrypt added in, of course). This gives us significant performance improvements, as well as a better underlying architecture. To repeat; this will not be a required update, although it will be strongly encouraged as it’s a huge leap forward technologically. One of the features which is currently not working in 1.7, but will be for release, is the Bitcoin payment protocol, which massively improves the payment request/receiving process for merchants. Fundamentally 1.7 is intended to prove we have the technical skills to maintain a stable, useful coin, and help drive/support adoption.
Once 1.7 is done, my immediate priority is technical documentation; we have a security specialist currently working on a guide to cryptocurrency security (setup, risks, best practices, etc.), to help give merchants and exchanges an in-depth understanding of how to securely use cryptocurrency. I’ll be addressing the need for formal standards in Dogecoin, and preparing RFCs for the “dogecoin:” URI and relay network protocol for submission to the IETF (and IANA for the URI).
Lastly; there was a post recently about the need for multi-signature addresses; I’d like to add my own “hell yes!” to that, although obviously I have to prioritise. If anyone else can look at these, that would be fantastic.
For anyone wanting a more permanent link, there's a copy of this on my blog ( http://jrn.me.uk/wp/what-next-for-dogecoin-mid-april-2014/ ), however posting as full text here as probably easier for most people, and I'm not sure my server would survive a reddit hug!
Edit: It's been pointed out that there's no verification of the problems with Blackcoin, and the source alleging problems has a serious credibility issue. Have removed the reference now.
submitted by rnicoll to dogecoin [link] [comments]

The new sockpuppet topic of the day is 'Seekrit chainz!' Here's why you shouldn't worry about it.

It will take 1916 blocks (95%) between August 1 (around 25% of the way into Period 20) and Nov 15th (when Segwit expires under BIP9) to lock in Segwit for activation during the next period. If anyone, Jihan or otherwise, decides to orphan attack the Segwit chain, rejoice! "What? Why?"
  1. It will be obvious. Everyone will know or have a good idea who is fucking over whom.
  2. It helps create those 1916 blocks needed for activation.
  3. It won't cause the network to retarget the difficulty significantly higher, since the attack would not add a significant number of extra blocks to the end of the chain and the time taken to create those blocks would also be similar.
  4. Once segwit activates, the price of bitcoin will surge. Any lost income via orphaned blocks will easily be recouped.
So yea, go ahead, attack the chain. Your attack will only help it activate. And once it activates, its value will surge and you'll go back to having the same minority hashpower you had before ...except this time no ASICBOOST. So, please, attack away. Help us activate segwit, even if you have to be a dick about it.
Witness me. Yes, we did throw the steering wheel out of the car. There are no brakes on this train. Your 'attacks' are like the kid on the playground who says 'Nuh uh! I have shields!" Everyone hates you, you're a fool, and you will get nowhere in life until you change.
submitted by Kingdud to Bitcoin [link] [comments]

Wednesday December 14th Pre-Market Stock Movers & News

Good morning traders of the StockMarket sub! Happy Fed Wednesday! Here are your pre-market stock movers & news for today-

(FULL SOURCE)

Frontrunning: December 14

STOCK FUTURES NOW:

(CLICK HERE FOR STOCK FUTURES CHARTS!)

YESTERDAY'S MARKET HEAT MAP:

(CLICK HERE FOR YESTERDAY'S MARKET HEAT MAP!)

YESTERDAY'S S&P SECTORS:

(CLICK HERE FOR YESTERDAY'S S&P SECTORS CHART!)

TODAY'S ECONOMIC CALENDAR:

(CLICK HERE FOR TODAY'S ECONOMIC CALENDAR!)

THIS MORNING'S EARNINGS CALENDAR:

(CLICK HERE FOR TODAY'S EARNINGS CALENDAR!)

THIS MORNING'S MOST ACTIVE TRENDING DISCUSSIONS:

  • SGYP
  • ONVO
  • XON
  • JOY
  • MSFT
  • CXO
  • MITT
  • ACN
  • REPH
  • SAGE
  • IBM
  • ABM
  • BAC
  • NDSN
  • NKE
  • JNJ
  • QCOM
  • GILD
  • INTC
  • AMGN
  • SKM
  • BLBD
  • PIR
  • LGF

THIS MORNING'S STOCK NEWS MOVERS: JOY, ESRX, NVDA, FOXA, WFC, HTZ, GOOGL, JNJ, GS, UPS, FDX, VRX

(source: cnbc.com)
Joy Global — The mining equipment maker reported adjusted quarterly profit of 17 cents per share, matching estimates, while revenue fell short of analysts' forecasts as the commodity price slump continues to impact Joy Global's customers.

STOCK SYMBOL: JOY

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Express Scripts — The pharmacy benefits manager reaffirmed its adjusted 2017 earnings guidance, and raised its overall outlook stemming from tax benefits related to its disposition of its PolyMedica unit. It is also revising its methodology for reporting network claims.

STOCK SYMBOL: ESRX

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Nvidia — Evercore upgraded the graphics chipmaker's stock to "buy" from "hold," even after a 181 percent year-to-date run up, noting that 2017 should be another good year for AI-related offerings.

STOCK SYMBOL: NVDA

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21st Century Fox — Brean Capital upgraded the media company's stock to "buy" from "hold," saying the sell-off following Fox's bid to buy the rest of Britain's Sky was overdone.

STOCK SYMBOL: FOXA

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Wells Fargo — Regulators imposed new sanctions on the bank because of deficiencies in its "living will" plan should it ever find itself on the verge of bankruptcy. It's the first time penalties have been imposed on a bank since the "living will" provisions were created by the 2010 Dodd-Frank Act.

STOCK SYMBOL: WFC

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Hertz Global — Hertz announced the retirement of Chief Executive Officer John Tague, as well as the departure of three of the car rental company's longest serving board members. Former GE executive Kathryn Marinello was chosen as the new CEO, an appointment that was endorsed by investor Carl Icahn, the largest Hertz shareholder.

STOCK SYMBOL: HTZ

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Alphabet — Alphabet's Google unit is reportedly racing to hire more conservatives for its lobbying arm, according to Reuters, after years of enjoying President Barack Obama's support and positioning itself for a Hillary Clinton presidency.

STOCK SYMBOL: GOOGL

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Johnson & Johnson — Johnson & Johnson has dropped is bid for Swiss drugmaker Actelion. However, Actelion confirmed it is in talks about a "strategic transaction," with both Reuters and Dow Jones reporting that France's Sanofi is the company talking with Actelion.

STOCK SYMBOL: JNJ

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Goldman Sachs — Goldman is reportedly planning to announce the elevations of investment banking head David Solomon and chief financial officer Harvey Schwartz to be CEO Lloyd Blankfein's top lieutenants. The announcement could come as soon as today, following the announced departure of Gary Cohn to join the Trump administration. CNBC has previously reported the impending elevation of Solomon.

STOCK SYMBOL: GS

(CLICK HERE FOR LIVE STOCK QUOTE!)
General Motors — GM asked the Supreme Court to overturn an earlier ruling that its 2009 bankruptcy filing did not shield it from lawsuits related to its faulty ignition switches. The switches have been linked to 124 deaths and 275 injuries.

STOCK SYMBOL: GM

(CLICK HERE FOR LIVE STOCK QUOTE!)
United Parcel Service, FedEx — UPS and FedEx are both struggling to keep up with the surge in holiday orders, according to a Wall Street Journal article. The paper said shipping volumes have surged past expectations and delayed some of the millions of orders that have been placed since Thanksgiving.

STOCK SYMBOL: UPS

(CLICK HERE FOR LIVE STOCK QUOTE!)

STOCK SYMBOL: FDX

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Valeant — The drugmaker's shares could come under pressure following news that Bill Ackman's Pershing Square sold some of its stake in the drugmaker to generate a loss for tax purposes. The sale lowered Pershing's stake to 7.8 percent from 9 percent.

STOCK SYMBOL: VRX

(CLICK HERE FOR LIVE STOCK QUOTE!)

DISCLOSURE:

bigbear0083 has no positions in any stocks mentioned. Reddit, moderators, and the author do not advise making investment decisions based on discussion in these posts. Analysis is not subject to validation and users take action at their own risk. bigbear0083 is an admin at the financial forums Stockaholics.net where this content was originally posted.

DISCUSS!

What is on everyone's radar for today's trading day ahead here at StockMarket?

Hope you all have a wonderful trading day ahead here on this Wednesday December the 14th! :)

submitted by bigbear0083 to StockMarket [link] [comments]

[CANADA-BC] [H] Crypto Currency Mining Enclosure and hardware FULL setup sale [W] $ or Bitcoin

I own a crypto currency mining investment company and I'm selling off the current hardware setup. It has been in use since mid-March of 2014. I've had a series of unfortunate events occur in my personal life that require me to sell off my business's hardware and other personal items.
This is for a firm priced sale, I am looking for a buyer that is either wanting to get into the mining business and wants a GPU based setup that can tackle all the new algorithms VS ASIC based setups that go obsolete within months and have no resale value. Or a buyer that wants to expand their mining farm or mining business and would love a plug-n-play type setup where the only thing they are required to do is have one power feed wired into their warehouse or home panel. This would be for local pickup only most likely. It will require the buyer to have a truck or to rent a u-haul type of moving truck. The system is roughly 60 inches tall by 95 inches long by 24 inches wide, not sure on its weight but moveable if the cards are removed(the cards are designed to be plug-n-play as well, no screws, just pop out pop in.) and runs at 240v for PC hardware and 120v for fans/misc regular appliance plugins(routers/switches etc).
The enclosure houses 8 systems which consist of 46 R9 280x video cards (it has room for expansion), has its own built in surge protection system to withstand lightning and other outside-the-enclosure based surges, whole system runs at 240v for best efficiency, has a 100amp breaker panel which is attached to the enclosure for maximum expansion.
The enclosure has 6x20 inch box fans which provide the 24/7 constant air flow for the video cards. I have two other 20 inch box fans that are for in and out airflow for fresh air circulation. All video cards are easy to access and can easily add or remove cards to/from the unit. I built the enclosure design in-house.
Serious inquiries ONLY, I have priced this as fair market price for used hardware among the enclosure costs which include the power panel, surge protection, cable runs, professional electrical hardware/electrician fees etc. This is a full plug and play type enclosure setup for any mining farm out there. Originally built for $33000~, I'm strictly selling it at a fair hardware priced value with cutting out a lot of the fee's that you would have to pay for an electrician to wire up your own custom enclosure and the electrical hardware. Cash or Bitcoins only.
Asking $15000 Canadian firm. Also I am located around Vancouver, British Columbia, Canada.
Pictures: https://imageshack.com/a/rmAz/1
It consists of the following hardware:
GPUS:
-40x Powercolor Radeon R9 280X OC 1030MHZ 3GB 6.0GBPS GDDR5 DVI HDMI 2XMINIDP PCI-E Video Card http://www.powercolor.com/Global/products_features.asp?id=512
-6x ASUS Radeon R9 280X OC 1070MHZ 3GB 6.4GHZ GDDR5 2xDVI HDMI DisplayPort PCI-E Video Card [R9280X-DC2T-3GD5] http://www.asus.com/Graphics_Cards/R9280XDC2T3GD5/
Motherboards:
-5x H81 Pro BTC http://www.asrock.com/mb/intel/h81%20pro%20btc/
-2x Gigabyte 990FXA-UD3 AMD990FX ATX AM3+ DDR3 4PCI-E16 2PCI-E1 1PCI SLI SATA3 USB3.0 Motherboard [GA-990FXA-UD3] http://ca.gigabyte.com/products/product-page.aspx?pid=3996#ov
-1x asrock 970 Extreme3 http://www.asrock.com/mb/AMD/970%20Extreme3/
Power Supplies(All PLATINUM RATED for best efficiency and running at 240v):
-14x Corsair AX1200I 1200W Digital ATX 12V 80 Plus Platinum Modular Power Supply 140mm Fan http://www.corsair.com/en/ax1200i-digital-atx-power-supply-1200-watt-80-plus-platinum-certified-fully-modular-psu
-1x Corsair AX860I 860W Digital ATX 12V 80 Plus Platinum Modular Power Supply http://www.corsair.com/en/ax860i-digital-atx-power-supply-860-watt-80-plus-platinum-certified-fully-modular-psu
-1x Antec HCP-1300 Platinum power supply http://www.antec.com/product.php?id=706569&fid=343
CPU's:
-5x Intel Pentium G3220 Dual Core 3.0GHZ Processor LGA1150 Haswell 3MB Cache Retail [BX80646G3220] http://ark.intel.com/products/77773/Intel-Pentium-Processor-G3220-3M-Cache-3_00-GHz
-1x AMD FX 4-Core Black Edition FX-4130 [fd4130frgubox] http://products.amd.com/en-gb/DesktopCPUDetail.aspx?id=808&f1=&f2=&f3=&f4=&f5=&f6=&f7=&f8=&f9=&f10=&f11=&f12=
-1x AMD Athlon II X2 250 (3.0GHz, 65W, 2MB total dedicated L2 cache, 4000MHz HyperTransport™ bus, socket AM3) http://products.amd.com/en-gb/DesktopCPUDetail.aspx?id=691
-1x AMD Athlon II X2 270 Regor Dual-Core 3.4GHz Socket AM3 65W Desktop Processor [ADX270OCGMBOX] http://www.cpu-world.com/CPUs/K10/AMD-Athlon%20II%20X2%20270%20-%20ADX270OCK23GM%20(ADX270OCGMBOX).html
Memory:
-1x Corsair XMS3 CMX4GX3M2A1600C9 4GB DDR3 2X2GB DDR3-1600 CL 9-9-9-24 Core i5 Dual Channel Memory Kit [CMX4GX3M2A1600C9] http://www.corsair.com/en/cmx4gx3m2a1600c9
-1x Corsair Vengeance Blue CMZ8GX3M2A1600C9B 8GB 2X4GB DDR3-1600 CL9-9-9-24 Dual Channel Memory Kit [CMZ8GX3M2A1600C9B] http://www.corsair.com/en/vengeance-8gb-dual-channel-ddr3-memory-kit-cmz8gx3m2a1600c9b
-1x Kingston HyperX 8GB (2 x 4GB) 240-Pin DDR3 SDRAM DDR3 1600 (PC3 12800) Desktop Memory Model KHX1600C9D3K2/8GX http://www.kingston.com/en/memory/search/?partid=khx1600c9d3k2/8gx
-1x Corsair 6GB Triple Channel DDR3 Memory Kit (TR3X6G1600C8D) http://www.corsair.com/en/tr3x6g1600c8d
Hard Drives:
USB flash drives for hard drives
-2x Kingston 8GB USB3.0 DataTraveler 100 G3 USB Flash Drive [DT100G3/8GBCR] http://www.kingston.com/datasheets/dt100g3_en.pdf
-6x Kingston 16GB USB3.0 DataTraveler 100 G3 USB Flash Drive [DT100G3/16GBCR] http://www.kingston.com/datasheets/dt100g3_en.pdf
Misc accessories/electrical for the enclosure:
-1x D-LINK DSS-8+ Unmanaged Desktop Switch, 8-Port, 10/100 Mbps http://www.dlink.com/si/sl/support/product/dss-8plus-8-port-10-100-desktop-switch
-all cat5e cables included.
-18x Heavy-Duty Power Cord, 15A, 14AWG (IEC-320-C13 to NEMA L6-20P) 6-ft.(2 spare for expansion can order more however). http://www.tripplite.com/heavy-duty-power-cord-iec-320-c13-to-nema-l6-20p-6-ft~P011006/
-1x Leviton 51120-1 Panel Protector, 120/240-Volt(surge protector) http://www.leviton.com/OA_HTML/ProductDetail.jsp?partnumber=51120-1§ion=39955
-18x Leviton 2320 20 Amp, 250 Volt, Flush Mounting Locking Receptacle, Grounding, Industrial Grade, V-0-MAX (Black) http://www.leviton.com/OA_HTML/ProductDetail.jsp?partnumber=2320§ion=40369
-2x Belkin 12 Outlet Home/Office Surge Protector with Phone/Ethernet/Coaxial Protection and Extended Cord 4156 Joules http://www.amazon.com/gp/product/B000HPX46U/ref=oh_aui_detailpage_o00_s00?ie=UTF8&psc=1
-9x Lasko #3720 20" Weather-Shield Performance Box Fans http://www.amazon.com/gp/product/B000BOCD1Y/ref=oh_aui_detailpage_o00_s00?ie=UTF8&psc=1
submitted by phi0x to hardwareswap [link] [comments]

[Table] IAmA founder of Tindie.com, 'etsy for tech', that started as question on /r/Arduino in April, led me to quit my job in Sept, and just closed $500k in funding. AMA

Verified? (This bot cannot verify AMAs just yet)
Date: 2012-12-20
Link to submission (No self-text)
Link to my post
Questions Answers
I've never understood why funded start-ups get so much money -- what do you need it for, and how (roughly) do you plan to use it? Thanks. First and foremost salaries, health insurance, basic business expenses (servers, designers, travel etc). Having worked at 4 funded startups before this, most have to raise other rounds to hire more people as the business scales and you have to hire more.
EDIT: Some think this was a "sneer" sorry if it came across that way! Realistically this lasts a year at most - 18 months. Seed round should let you fully test the concept and if the business actually can grow to a much larger scale. I'm sorry if that answer sounds like it was anything but a sincere answer.
Don't answer questions. Get on the phone and get your damned site up. You're missing a huge marketing opportunity here. Oh I'm working the phones like i'm in Glengarry Glen Ross...working on bringing it back up.
Looks like you need to invest a little more in servers. You got that right!
Good man and good luck. I suppose I'm just annoyed because I really want to check out what you've done and I really want this to succeed. It's coming back up now sorry about the down time!
I think the downtime on your site is the best response to why start-ups need money. +1.
Am I to understand this that the website is down due to reddit traffic? Because I see no tindie.com. Yep.
Looks like you need to move to the cloud. On AWS..just needed moar..
Still down for me, but here's Google's cached version of the home page. We are now back up..promise..
Please hurry. my attention span is very short! Ahhh back up! Did we make it in time?
How did you find funding? I've always been curious about how that process works. Do you just call up random venture capitalist firms, or what? Good question. My experience may have been a bit atypical, but it was all through meeting people who introduced me to more people until I met my investors. I wouldn't say 'networking' because I wasn't trying to find investors. I was just meeting people, and then it would become - "You should talk to..." I didn't have a formal pitch or slide presentation. It was all through casual conversation.
To hear what my investors thought, they both wrote blog posts on the investment.
Link to versiononeventures.com
Link to www.crashdev.com
I was just meeting people, and then it would become - "You should talk to..." I didn't have a formal pitch or slide presentation. It was all through casual conversation. That is exactly what networking is. I wasn't actively trying to connect with person X & Y. Yes it was casual networking but there wasn't a motive. I think of 'networking' as people hunting for another person with an agenda..but I could be wrong..
, Congrats! CONTEXT: I currently work in corporate sales from 9am-6pm every day, and then come home and work on my web/media start-up pipe dream from 7pm-3am or so every night. It's tiring, but I'm also excited, because I feel like I am at least moving in the right direction. QUESTION: Was there a time during the process that you led two lives? When did you know that your original job wasn't just supporting some "habit"? Thanks! I used to do sales at another startup/web company, so I know how you feel very well. The short answer is yes, definitely from June to Sept when sales were doubling month over month. I was also burning the candle at both ends.
The longer answer is that I've been working on startups for 6+ years- sales, support, developer outreach, and most recently engineering. Throughout that time frame I was picking up bits and pieces along the way. Throughout that period, I felt like I was living two lives. Working the day job, tinkering on the side, but really learning. I had ideas throughout that stretch I was working on which ultimately failed or never even got far enough to get off the ground.
The one piece of advice I'd give you or anyone interested in starting a web company, learn to code. I took a year off and taught myself. I'm no where near a great engineer but now we are two years later, I was at the point to be an engineer during the day, and build Tindie in the mornings and nights.
The benefits are vast from having a better understanding of the technology that goes into a website, the thought process around building a feature, and the fact you can build your idea, throw it out there and if people like it, great! If not, you didn't lose $x,000 hiring someone else. Twice before I've paid other people to build my ideas- both failed miserably. Learn from my mistake.
Circling back to your second question, you never know if you'll take off or not. I think if you have the bug, you keep trying. In that way it is a habit. Try, fail, learn and try again. Once you've made a mistake once, hopefully you won't repeat it and therefore you are further along for your next idea.
What's your favorite product on the site? Oh thats a tough one. Here are a couple..
GAMBY - an Arduino shield for gaming on an Arduino
Robot that plays Angry Birds- a robot you can program to play Angry Birds
808 Kick Drum Clone PCB- a PCB for building your own 808 kick drum
AS3935 Lightning Sensor Board- for detecting lightning
How many people run your website on a daily basis? It was just me up until October. Thats when I brought on 2 contractor friends, and last month the first hire - so max 4, most days 2 or 3 of us are hacking away.
Free advertising for what? If the site doesn't work now, chances are I won't remember to come back. Tindie is coming back up. hopefully you'll give us a second chance! Sorry about the down time!
Reddit: World's friendliest DDoS. +1.
How are you paying yourself and others who work for you? Quitting a job for something like this seems a bit scary. Yes, with the funding, we have salaries and are hiring for a Python/django dev! PM me if you are interested!
Reddit effect? Site seems to be down. ping tindie.com. Request timed out. Request timed out. Yep bringing it back up now.
Great concept idea, congratulations on the funding! Have you done any type of market research/ niche market expansionary issues that you might run into or was this an idea that you just dived right into? Thanks! and nope, I didn't do any market research. I was interested in learning about hardware hacking, Arduino, Raspberry Pi, etc and I felt like other people were also interested. At a high level, I just figured there are more and more people getting jazzed about making electronics, and that's why I just posted the question. I had no idea, so I asked the community and went from there. I didn't expect it to become a business at all. I just saw it as a learning experience and something to have fun with.
Are you going to offer "how-to" guides? It's a good idea. Have any more ideas on what you'd like to see?
What is your price structure going to be like? Are you going to skim off the top from sales or charge the people that post their goods? 5% of each transaction (with a minimum of $1). We only make money when a seller makes money.
Congratulations! Is $500k going to be enough? Where did you come up with the name? Thanks! Not forever.. should last 12 -18 months. Tindie came from 'indie tech' - tech indie..tindie.
I have a legitimate idea for a start-up. Do you have a good resource for helping me figure out where to start? The process? How to go about getting funding? Thanks...and congrats! Cool! Without knowing the idea/audience/your background, ultimately it will depend upon getting it built, out in the wild and iterate as people give you feedback. If you are growing and in a growing market, the investors will find you.
[Confirmed OP is who he says he is.] Marketing my own products seems to be my biggest challenge right now. Do you have any plans for marketing beyond just trying to be awesome and get in the press? Thanks Dustin! Short answer yes. Longer answer, check back in a few weeks.. :)
Did you have previous start-up knowledge before going into Tindie and in this case how did you work out ownership/equity with your investors? Also as a long punt question - do you have any experience or advice about how you divide up a company and give shares/control if there are a number of people working for free until it has a value? Equity depends on how you structure the funding. You'll want to look up startup funding on quora or some info site that can tell you more about the overall landscape. I don't. Since I started Tindie by myself, that was easy. Once you have other employees you can find breakdowns on equity by position & what stage the company is at also on Quora. Do some digging on there. You'll be blown away with the info you find (its a gold mind).
Saw someone asked this above but it wasn't answered. What resources did you use to learn to code? Thanks! Started with "learn python the hard way" progressed to Google App Engine and Django. Basically learn the basics and start building. You'll learn the gaps as you go.
How was your fundraising experience in your city? What were your investors looking for most in your company (for example traction, user acquisition, team)? And finally, do you feel that the city itself is inviting and conducive to innovation? Thanks! Fundraising was fine- but neither of my investors are in Portand (Seattle and Vancouver BC).
Investor comments directly from them: Link to versiononeventures.com
Link to www.crashdev.com
On Portland, I'd say so. Portland is great because its cheaper than the Bay, you can fly down very easily, and less startup noise than Silicon Valley. Before moving to Portland I spent 4 years in San Francisco.
Sorry if you've answered this already or don't want to for privacy reasons, but what's your background? What college (if any), degree, or job did you have before working in startups? I ask as a college student interested in working with startups after graduation. Political Science degree from University of North Carolina at Chapel Hill.
Account Executive at Yelp.
All around sales at Redbeacon.
(took year off to learn to code)
Developer Advocate at SimpleGeo.
How long do you think it will be before your site is back up? Apparently reddit has once again broke a site. Back up!
Bro, do your servers even lift? They were hurting for sure.
Did the popularity of this AMA break your servers? Yes, yes it did.
How did you teach yourself to code and build a website? What resources did you use? 'Learn Python the hard way' was a start. From there worked on building a site on Google App Engine, progressing to Django. Really it was a lot of trial and error. The key things were a few friends to ask questions & stackoverflow.
Have you looked into using bitcoins as a payment method? Yes. Because of we process payments and distribute funds to sellers it would be a bit tricky right now. Trying to not add more complexity than we need to right now..
Congrats! From the Crash Dev blog post, you received 11,000 visitors to your website in the first day? How did that manage to happen? I find that very impressive!! Please share your secret juice. I seeded the userbase & products on the site before it was even launched.
Set up a landing page to let people reserve their username.
Once they've registered, let people submit products for when you launch.
Once you have enough products and the site is built, launch.
Post on Hacker News/ Reddit/ forums and get initial buzz.
Thats about it!
What on EC2? can't you just spin up more boxes? I'm new to it, so that's why I'm interested. Yep its what we did after digging into it to make sure it wasn't something else. 4 XL servers.
Awesome idea! where does the name come from? also, what was your job before this? Thanks David! 'Tech indie' tindie ... I was a web engineer at another growing startup.
Congratulations! How did you make the jump on quitting your daytime job? I'm in the same situation now, trying to get my product into an MVP state, and have already done some analysis on that jump off of the W-2 bandwagon. What would you suggest doing? What were the guidelines you were searching for? When did you KNOW it was right to quit? Congratulations again! Thanks! I knew it was the right time when for the 2nd month in a row sales were growing at 100%. A bit of a risk but at that point I figured if it were going to grow bigger, I had to give it more TLC.
As a fairy, I know how he feels. The Speech. ABC.
I wouldnt mind taking a gamble on your company, do you have an IPO? or any public shares for sale? Thanks, unfortunately we are a private company. Maybe one day..
So instead of just asking about how we killed the site.. Since it's dealing with tech stuff do think you'll have any issues with people and patents? for example, someone buys someone elses thing repackages it and sells it as their own. We haven't had that issue yet. Most of the stuff has been open hardware which ignores the patent war..(thankfully)
Would you rather fight one Onnen-sized Lucky or 100 Lucky-sized Onnens? One Onnen-sized Lucky. Link to i1028.photobucket.com
Off topic, I think your site is getting hosed. Can't connect. I fear for the slag that used to be your network switch. lol. What type of categories are you offering on there? Back up! As far as categories, anything from Audio (synths) to plant monitors. Really a wide range.
You guys sell a robot that plays angry birds? Why do I want it so badly? Hmm good question, but it is super popular (as it's currently sold out)..but we can let you know when they are back in stock!
Link to webcache.googleusercontent.com Google Cache version if anyone wants to see the site before he gets his hosting sorted out. Thanks tbends for the help. We are back up!
Did you start this AMA knowing that we would have friendly-DDOSed your site? Nope, had I known we'd have planned a bit more :)
I cant currently view the site, so I'm not sure what tindie.com looks like... but regardless, what's the monetization strategy you've outlined for investors? I'm especially interested as the topic of the site seems to be "indie" and "open source", yet making $ in these areas can be tricky. Thx. Try now..
As far the revenue, tindie gets 5% of each transaction through the site - from there it becomes a question of scale and # of transactions. The makers are actually the ones who decide if their product is open or not. If they end up making and trying to sell their products, we are a great option.
Emile.
My friend is wanting to start an etsy for free trade items made all over the world. Any suggestions? Set up a landing page to let people register.
Once they've registered, let people submit products for when you launch.
Once you have enough products and the site is built, launch.
That's a start!
I still don't understand what your startup is - what's your product? also, i can't get to your site to find any additional info either. This shit should be clear as crystal if you're trying to get exposure. We are a marketplace for people to buy & sell electronics/tech that they make. The site is back up if you'd like to see. We don't have a 'product' but are the marketplace where makers can buy & sell their goods.
I see your site features a robot that plays Angry Birds. How have you used this machine for personal internet stardom and set record shattering high scores? I haven't actually used it - I do know the dev that made it and have seen it live in person. It does work.
Awesome site, just found and joined it due to this AMA. I was wondering if you could possibly add a feature similar to Etsy's where you can heart items and save them? Either way keep it up! Edit: Also a view all items option in subcategories would be amazing as well. Yep we can. Interesting story - we had wishlists on the site before a redesign, removed them in the redesign, and no one has noticed... We are working on a new solution in the future so stay tuned!
Emilepetrone: We launched a simulated diamond jewelry site called Link to diamonius.co and it's doing well, but since we are self funded via family we don't have the cash flow to do big ad campaigns. Any advice on how to get funding that is bigger than something like Kickstarter could provide? The trick for your business is growing so fast the investors come to you. As far as ad campaigns, maybe try cheaper more creative options that drive traffic your way?
When do you expect to breakeven? Good question, won't say the time but we definitely plan on being profitable. We do generate revenue unlike most tech startups so we are well on our way.
While I understand its nice for privacy and security why does the entire site redirect to https? Wouldn't it be less load on the servers to only use it when needed. Yes, you are right.
Why doesn't your website work? Because too many people were hitting the site, melting out servers- but we are back up now :)
How much equity did you have to give up for the 500K? Unfortunately the question I'm refraining from answering..sorry about that!
Is this similar to www.makeprojects.com ? I haven't been able to visit your site to check it out :/ Check now... not really, more of a marketplace than tutorials site.
A section for amateur radio on the front page would be welcome. I've posted links to you on some of the sites I frequent. Thanks! Adding that category now. Once there are 3 products in the category, it will show up in the side bar.
Link to tindie.com
Why would anyone need a robot that plays angry birds? The other thing is you can use it for mobile app testing. Program it to run through a suite of tests..
Sounds like a neat website, can I have something from your desk? Hmm maybe what are you looking for?
Why can't I get on your website from my phone? Good question, the site was down for a bit, but should be running fine now.
of all, congrats! How old are you (serious question - I am just curious)? And you should get your site back up (as I'm sure you know). I'd love to take a look! How about now?
Now? You're still 27. Maybe 28, but I somehow doubt it. May 7, 1985.
You are at step 3 of 100 steps... You're now indebted to others and are obligated to make this a profitable venture - are you stressed yet? You should be... Yes.
Your servers are crashing because of Reddit. Is this a good or bad thing? Good thing...definitely good problem.
Hi there, me and my friend are trying to find an idea for a website service but quite frankly they are all taken and we have no inspiration at the moment. What would be advice for getting inspiration for this type of thing? Hmm just mess around. Building things. I didn't plan on making Tindie a company, it just happened that people liked it. The more you tinker and launch new ideas, the higher your chance for success.
How do you process payments and how do you pay sellers ? We handle payments through paypal, and disburse the sellers' funds via Paypal at the end of the month. So the $ stays within Paypal and we just transfer it, taking out the Tindie fee.
Why don't you use stripe ? We started with Stripe. Ultimately we could get lower fees with Paypal and international customers were asking for Paypal because they didn't have a credit card. But Stripe has done a great job -best documentation award definitely goes to them.
I've got an idea for a company, I've already worked out a business plan and parts of a marketing plan. I'm not really sure where where to start looking for VC. What would you recommend my next steps should be? Sure thing - start building the business, getting traction and growing. If you can show signs of serious growth, the investors will find you.
Could one use this site to sell a used CO2 laser? I'm thinking of selling mine, but I'm not sure yet...Not sure if this site is for products MADE by such things, or if one could sell the laser there too. Sure thing. Just mark it as Resale, and it will show up in our Resale section. We are focused on maker made, but do except other products...
I sent you a PM about offering to help bring your site up, I have the expertise, and the offer still stands. I just looked at the Google cached version, and it looks really cool and interesting. Ah thanks! I haven't had a chance to look through my PMs but fortunately we got it up. Will reply after going through a few more comments..
Looking for any work from home low wage workers? ;-) Not yet!
I love this place! I would love to order more but the budget of a student is limited. Have you considered reaching out to specific people (i.e. Joseph Prusa) to sell specific things they've made in an American market? Thanks! I have, just a matter of time. I met Prusa at the Open Hardware Summit..thanks for the reminder!
how much did you keep for $500k? Assuming you are asking about equity, i'll leave that question unanswered..sorry about that!
Hey Emile, I hope you're still answering questions. You and I have actually spoken over email a few times. I want you to know I appreciate the advice you gave me and the fact you didn't tell me to goto hell :). I've been planning on working on a community marketplace similar to tindie but in a vastly different space. How did you solve the chicken and the egg problem with tindie? Yep still here, just working my way through. Good question..still figuring that out.
Any room for parallax propeller chip? Sure thing, reselling it? We have a new resale section just for that.
Hey, I am currently a student studying Computer Science and a friend and I have been trying to work on creating a E-Commerce Website as well. Although we aren't new to coding, we are somewhat new to coding larger scale software on the web. We have been using Python within the context of the Django framework, but I am curious if in your experience you have heard of any better frameworks or alternative methods to produce an e-commerce site like yours? Check out Cartridge. Depending upon your idea, it may be perfect.
Why wouldn't ya call it etsy for techie? Hmm I dont know..never thought of it.. hmm.
What did you name your boat? Unfortunately no boat or car..
Link to webcache.googleusercontent.com. Should be running fine now..
Did reddit just Friendly DDos'd your site? Yep!
Where are you hosting? Amazon, Heroku, Rackspace? heroku ps:scale web=10 worker=5 AWS.
The site is down. Maybe the start up funds should go to servers? :p. +1.
Can I have like 2k?? It'd help out a lot. Sorry mate, maybe next time?
A bear hug that kills you with a smile. Link to files-cdn.formspring.me
that is why we cant have nice things around here =[ Its ok.. fail and learn.. we now know what to do for next time :)
The good ole' Reddit DDOS. I'll check back later. Sorry about that! It's coming back up now.
And we are back!
... Its gone. And we are back!
Invest in amazon's cloud :) 4 XL's on EC2.
Lol he is the web host. They're probably using Amazon Web Services or some other cloud setup. The OP himself would be responsible for putting in load balancers & ensuring that the site scales with traffic. At the same time, it's a great lesson learned, occasional failure is a good thing :) Yep AWS, and lesson was definitely learned.
That exact thought goes through my head each time a site gets nuked. I'll be a good and bookmark it, maybe Santa will swap me out of the naughty list. Fuck coal. Thanks Willmus! We are live now, also do not want you to get coal.
I wonder how many of us won't. It's kind of poor planning making a big marketing move like this and not notifying your web host that you're expecting a big surge of traffic. In hindsight, you are right. I wasn't expecting it to actually get much traffic. But lesson learned - and we won't make this mistake next time.
Looks like 502 of their gateways are bad. Might take a while to replace them all. Yeah it did, but we are back up!
Oh sorry guys, i was sitting on ctrl F5. I thought so! +1.
Aand it's back. +1.
It's called free advertising. *OHHH You meant the site is ACTUALLY down... nevermind then. I'll still go back, not really that big of a deal, sites go down all the time Thanks! Yeah wasn't expecting it, but we are back up!
Great, now he's gone. Nope I'm here. Edited my answer to add more context.
WE ALL WANT TO HUG YOUR WEBSITE. Link to 25.media.tumblr.com
I've now seen that comment about 8 times in this thread already. It is very, very appreciated.
The friendliest ddos. +1.
The good ol' reddit DDoS. I can't connect to it either. Just try back in a little while. :) Back up!
I just had the same problem :( Sorry about that! Back up, promise!
That reddit hug! Link to 25.media.tumblr.com
$500k won't last you very long at all. Staff costs alone will burn through that in a matter of a few months, and there's all manner of setup costs and overheads on top of that. $500k isn't supposed to last years - realistically one year to 18 months.
Ah yeah, love me some strongbad. Link to homestarrunner.com. My high school chemistry teacher introduced me to strongbad. best class in high school.
Last updated: 2012-12-25 02:33 UTC
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