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Messages - TheCBF

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Cryptocurrency discussions / Re: New Born Cryptocurrencies in 2019

« on: July 31, 2019, 02:13:43 PM »

Quote from: Bobcrypto on July 30, 2019, 11:43:19 PM

Several coins are being launched 2019, but i think that very few of them will be able to compete in the market with the already existing coins.

That's going to be a critical factor in whether new tokens / coins are successful. Can they a) compete with existing ones already in the marketplace (which means design, launch, catch-up and then overtake), quite an ask or b) move into a greenfield space where they don't have to compete. Option B is the sensible choice and one that crypto investors need to be looking out for. Easier to carve a new niche with a token offering and related utility / services that provide value, than try and steal market share and attention from another. Especially if that other is well liked already.

What's more, the tokens labelling themselves as utility tokens need to provide demonstrable utility that is not available via another solution, we've seen most do not offer any unique utility. If it's just a n other, e.g. AWE coin, then there's no value in it.

While ICOs are still relevant (e.g. RED MWAT), the public's focus has shifted to IEOs and security tokens, but this still provides no guarantee the offering is meaningful. It looks better as it's a more involved path to market, but it still says nothing about the quality of the offering.

The main thing as always is the team and business case. If one or the other look weak, raise more queries that questions answered - expect it to fail.

CBF

Cryptocurrency discussions / Re: What are Smart Contracts and How Do They Work? (Examples & Challenges)

« on: July 11, 2019, 11:42:53 AM »

Hi Ozark,

Great post.

The Complications you mention are of particular note. While Solidity being a Turing complete language is offered up as a positive thing (which it is), it doesn't make it any easier to use. It's the ability of coders to write smart contracts in a perfect, bug free, efficient and compact that will always be the challenge. All software has bugs in it and that introduces the risk of financial loss. There are services to test the contracts, but then all software is tested and it still goes live with bugs. In the case of Ethereum, Smart Contracts can be deployed as small sets, thereby allowing upgrades with minimal disruption and they of course can inherit functionality from other contracts so that functionality can be modified if issues are found.

Interesting that you mention the use of IoT and the need for external oracles to provide state change data. This is so often overlooked. The Smart Contract can only know what's happening when it runs, but as they need to be called it's certainly a challenge to have a contract run on some change we care about. That means there's another script on a server somewhere that monitors the change of state and calls the contract. Web3JS is a good tool for this of course, but so is all the typical server, software, chron jobs, etc. we'd expect of a service. None of that goes away just because we wrote a few Smart Contracts.

Regards,

CBF

Basic Attention Token (BAT) / Re: How are you accumulating BAT?

« on: July 10, 2019, 09:56:43 AM »

Hey Zed30,

Wasn't aware there were regions where it wasn't available. That's a shame and you're right, the faster they open more regions up the better. The browser wars are still on and they might need to be quick about getting adoption before one of the big-boys catch up with them.

What's particularly attractive to us is the idea of what they give away to the community, instead of the likes of say Google who quite literally just keep the profits from ads then foist them on users with no real benefit.

Hopefully they'll open up the regions soon.

CBF

Basic Attention Token (BAT) / How are you accumulating BAT?

« on: July 09, 2019, 09:42:19 PM »

Hi All,

A few of us here are using the Brave browser and we've switched to it at home. Right now we're getting about 10 to 20 BAT per month I'd guess on average.

We don't look at that many adverts in truth, dismissing the pop ups when they come. Though some are actually well targeted and interesting ads.

One of us has a site that's a verified Brave content producer site and we tip that with about half the allocated BAT, the rest going to others sites we know of that are also verified.

I've also got 56 BAT placed on the Compound site to try that out. I'm expecting we'll pool our BAT and dump it all on the same account.

What's the approach you're all following?

CBF

Sorting Box / Re: Bounty Hunting Advise For Newbie

« on: July 09, 2019, 09:33:31 PM »

Quote from: Noverteno on June 14, 2019, 07:20:03 PM

...There are also many cases when, even after collecting funds, a team encounters unforeseen objective difficulties and the team disappears for a time from our field of vision, sometimes their tokens do not even appear on the stock exchange and everyone rushes to declare them to be fraudsters. Should not rush to this.

This is where clear, consistent, transparent communication is always key. Even if the team say they need to go on a communication blackout to get things in order when some disaster strikes, they still communicate that out then provide an update when they said they would. It can happen that a project hits a major roadblock and has to pause, but just going dark is never acceptable.

CBF

Sorting Box / Re: How easil to detect a crypto scam [for Newbies]

« on: July 09, 2019, 09:28:59 PM »

I'll just say 'Bunny Token' and leave it there... we all fall for them as part of the learning curve

Having HTTPS is a sign of a professional set-up but the certificates can be bought via the web hosting so not a guarantee - just a 'bad smell' if it's missing that might be an indication of something more concerning in the project. If the site expects you to conduct any form of transaction, of information or monies, with no HTTPS, then don't.

Abnormally high returns are also a 'bad smell' but it in the crypto space it may be possible. There are a few things I'd be thinking;
- If the returns were being 'guaranteed' to be 10,000x etc.
-- you can bet the investors would increase the cost of tokens/coins to you as the objective is for them to maximise profit not give money away.
-- they better be stating clearly why they can't realise that profit. Are they locked out? Is it a charity? What's the reason?
-- have they published a paper on tokenomics or economics in their target market? Do they explain how they've arrived at the valuation / return on investment and why the token/coin price is set as it is?

CBF

IOTA Forum / Re: Trinity wallet review, IOTA Foundation’s newly released software wallet

« on: July 09, 2019, 05:23:02 PM »

Great review, Niteroy.

We just started using the new wallet across the team and it's working great!
Very easy to set-up and use, simple to move tokens into it.

CBF

IOTA Forum / Re: What makes IOTA unique?

« on: July 09, 2019, 05:16:59 PM »

IOTA has a very unique value when combined with IOT laden smart devices in the medical field. The problem it solves in this case is the transfer of value in the form of data from the smart devices to those who want to consume, analyse and learn from that data.

One such example - it's now possible to 3D print organs within which IOT sensors can be placed. I'll quote from a paper written by one of he CBF team, regarding the implanting of IOT into a replacement kidney:

Quote

After transplant, the sensors would start to monitor a set of post-operative conditions and then switch to their primary task of monitoring expected functions of the kidney. Blood pressure would be checked, fluid levels and the creation of related hormone levels measured by one of the dedicated components which could also trigger the changes in these levels to keep both optimal; beyond what the kidney itself could do. A similar process could be in place to monitor and modify levels of erythropoietin, used to trigger red blood cell creation by the bone marrow, along with checking blood pH, ionic composition of the blood, urinalysis and levels of vitamin D that the kidney helps in the production of. Every time analysis was performed, the sensor data would be broadcast out of the bio-mechanical organ and fed into an AI based data analytics system. Analytics would be provided back to the patient and care providers, not just for reporting on the functioning of the smart kidney, but about the effectiveness of optimising and managing the overall urinary and endocrine system. Remove IoT from the equation, and you get none of these benefits.

IOTA would be the currency that is paid for this data. There's nothing else positioned to do this. You provide the data from IOTA laden devices in any form and get paid in IOTA.

CBF

Solidity / Re: Why Solidity developers are so expensive ?

« on: July 09, 2019, 05:01:30 PM »

Solidity development costs are varied. For inexperienced or freelancers off forums such as this the prices are low, but there's no guarantee of quality. When hiring from consultancies or known developers the costs are notably higher. As the skills to develop smart contracts becomes more widespread the costs will go down.

In part the costs are high because of the rarity of available skills. The developer base is still growing and those seen as trusted and experienced are few in number. Therefore if you want to get your project done with confidence, you're going to have to pay what feels like a premium right now. There's also the issue of liability if ETH is lost through bad coding or a hack. Companies can't sue the little guy, so they hire companies that are more costly but that can a) be taken to court if losses occur and b) don't get the project manager sacked for hiring unknown teams.

CBF

Basic Attention Token (BAT) / Re: When will BAT have its own Blockchain?

« on: July 09, 2019, 04:55:42 PM »

Creating it's own blockchain would limit the convertibility and portability of BAT, it would also take up a lot of team time and money.

Right now the project is still in a user and advertiser accumulation phase. A change such as shifting to a new blockchain would be hugely disruptive and I suspect it would be seen as a bad move by investors given the initial confidence they clearly placed in it.

CBF

Basic Attention Token (BAT) / Re: Until when is the free BAT token distributed ?

« on: July 09, 2019, 04:51:59 PM »

It seems the main point of these initial BAT Rewards is to get users engaged in having the Brave browser as their primary browser, but also then getting them familiar with the browser enough that they stick with it once the awards become fully tied to the level of 'attention' the users give to Ads.

I understand Brave shows as Chrome in browser stats right now, but as user numbers increase sites will no doubt parse out the Brave browser signature from Chrome and we'll get to see how many active users on what platforms there actually are. That's the thing that the likes of BMW and other blue chip corporates will want to know.

The distribution of BAT being broad isn't a problem either. The model is that browser users can Tip the BAT tokens to content producers, so it's the content producers that will look to place them on an exchange, not thousands of regular browser users. Of course, I suspect many browser users have registered their sites and are tipping themselves in order to get the tokens freed up. This site should register as a Brave Content Creator so we can Tip.

The Tips that content producers have been given have just started to get released into the Uphold wallets, so we might see increased volume on the markets over the coming weeks.

CBF

Basics / Re: Ethereum transaction Gas needed

« on: July 09, 2019, 03:41:18 PM »

Gas is the fee charged fore carrying out an operation on the Blockchain and is charged by miners who execute the operations. Writing to the blockchain costs, reading from it does not.

When writing Smart Contracts it's important to minimise the number of write operations that need to take place agains the blockchain.

For example, make sure that the correct int or uint type is used for the data to be held (smallest possible) and the most optimal data type is used to minimise Gas costs. As of Solidity version 0.5.0 explicitly defining the data location for all variables of struct, array or mapping types is now mandatory. Consider if you need to use Storage or Memory for operations, Storage costs but Memory is local so free.

If a function doesn't actually change state in Solidity, i.e. it doesn't change any values or write anything to the blockchain, we could declare it as a view function, meaning it's only viewing the output of running the function but not modifying it. Views are Gas free. Use a for loop to build the contents of an array in a function using Memory, rather than simply saving that array to storage

CBF

Basic questions about this forum / Re: Unable to post new topic with external link..issue.

« on: July 09, 2019, 03:30:28 PM »

That's a good thing but something I missed too.

Might be handy to have it in a thread linked to in the sign-up email. I've been searching for 'why' for a good 20 minutes. Though I appreciate there's a lot to link to and read up on for new arrivals!

CBF

Solidity / Re: Does Solidity has it's own Editor?

« on: July 09, 2019, 03:00:01 PM »

Hi,

If you search for 'remix' you will find an online editor that can also be used for deploying and testing your Solidity contracts. Be sure to deploy to a testnet such as Rinkeby using fake Ether so you're not spending your own money.

Microsoft's 'Visual Studio Code' can also be used to write Solidity code, just hit the marketplace for a syntax highlighter to ensure the code is more readable.

The editor called 'Brackets' is not a bad choice either if you want something more lightweight.

Don't forget you can always go to eth fiddle dot com too, which can prove valuable for working with code snippets.

CBF

Solidity / Re: Is Solidity only based for ETH token developers?

« on: July 09, 2019, 02:52:30 PM »

Stuart,

(old post, but unanswered so...)

Solidity is the language used on the Ethereum blockchain, so in answer to your question - yes.

CBF