/biz/ - Business & Finance

>>21020868
These were the principles that Bitcoin was constructed with and designed to honor. While its inherent technology stays true to this nature (mining aside), the infrastructure that has been built up around it is flawed by design and sacrifices a good number of strengths and freedoms. Most notably are the many vulnerable points of exchange run by central authorities on trust where funds are at risk to be frozen or stolen, KYC (know your customer) policies, and the traceability, restrictions, and risks that come from these two points.

Shortly after BTC found a value that could be directly pegged to the USD (and with the USD, every global currency), a number of exchanges offering trade between the two opened for business. The first of these exchanges was the infamous Mt. Gox which implemented KYC policies by 2011 before exit scamming in early 2014. KYC policies were initially introduced to comply with the many regulations regarding the exchange of various fiat currencies for crypto in addition to demanding a deeper sense of customer accountability. Up until the point that they were introduced, the only sure way it would have been possible to trace specific addresses is if the recipient publicly disclosed their wallet address. KYC brought a considerably more advanced form of traceability with it. In addition to e-mail addresses and bank accounts, everything from names, addresses, full ID info, and pictures of each and every customer became tethered to their respective deposit and withdrawal history. Though somewhat convoluted with the nature of exchange wallets, there are patterns that can be followed and traced.

As BTC continued to grow, so did the number of its forks and competing cryptocurrencies pegged to its value in satoshis. The forks grew to be numerous and with them, the number of centralized C2C exchanges where you could trade them for BTC. Like the fiat-to-crypto exchange points before them, KYC was implemented on numerous C2C exchanges as well.

>>21020868
>>21020882
Centralized exchanges of all sorts are perhaps the weakest link in entire cryptocurrency space. They have repeatedly proven to be weak in terms of security. This year alone, the following exchanges have been compromised: Binance, Bithumb, Coinbene, Coinbin, Cryptopia, and QuadrigaCX. What’s worse, they’ve sacrificed many of the core principles of the cypherpunks that built Bitcoin in the first place.

How can crypto be censorship-resistant and immutable if exchanges can decide to freeze funds or put a certain wallet into maintenance at whim? How can it be private if every account has every bit of trade, deposit, and withdrawal history it has done tethered to its name? How can it be anonymous at-will if full documentation is demanded, sometimes as a ransom for frozen funds? How can it be secure when billions of dollars have been hijacked from weak security? It could be argued that these exchanges are the antithesis of the cypherpunks: an easily-exploitable honeypot of funds and user data with a central authority.

>>21020868
>>21020882
>>21020907
Consider the efforts of the X9 Developers building Stakenet. True to the nature of the cypherpunks, they have been working to make these numerous vulnerabilities in the cryptocurrency infrastructure obsolete. To strengthen censorship-resistance and decentralization in this space, they have been implementing an immutable and purely decentralized exchange into their network where no central authority can freeze funds, where exit scamming is impossible, and where security is as tight as the blockchain technology it runs atop. To restore the principle of at-will anonymity, their immutable DEX will have no KYC, nor will it require registered accounts. In the interests of privacy, they have built a solution that allows for one-click TOR lightning swaps that strengthen the privacy of every participating coin and the Lightning Network itself. To strengthen the nature of the decentralized exchanges that are already out there, they are working on a DEX aggregator that pools together the offerings of many promising DEXes suffering from low volume or difficulty of use.

>>21020868
>>21020882
>>21020907
>>21020935
Put briefly, this team has the foresight and skill to acknowledge and address the numerous risks and shortcomings that anyone coin may face the second it is sent from a private wallet to any other point in trust. They are compounding these solutions into one streamlined and convenient wallet where funds are firmly secured, trustlessly staked, and instantly tradable from one singular point.

To build up the world of cryptocurrency is to honor the ways of the cypherpunks and carry on their torch. It is to fight for freedom from the intrusiveness and corruption of centralized authorities by obsoleting them. It is preserving the privacy of funds, resisting mutability, and decentralizing any and everything which stands to benefit from it. Whether that be a store of value, the means by which that value is secured and traded, or the platforms on which these mechanisms are discussed. This era of mass-censorship, intrusiveness, digital balkanization, and monopolies from many of the premier digital spaces not only shows how right they were 26 years ago but that there is still a considerable amount of work to do.

If you know, you know

Bro no one wants to prop up your shitty fucking pyramid. Stop spamming this thread

>>21021110
Not an argument. Thank you for the bump however, and please, indulge in some further reading

Good reads
>Whitepaper
https://stakenet.io/Stakenet_Whitepaper.pdf
>Quick rundown
https://medium.com/stakenet/multi-currency-wallet-and-lightning-swaps-stakenet-solution-7d0dafe99105
>X9's contributions to LTC
https://medium.com/stakenet/litecoin-foundation-and-x9-developers-announce-collaboration-510ca985b6
>Exertive Proof of Stake
https://medium.com/stakenet/exertive-proof-of-stake-epos-4a999807f9e4
>Great write-up of Cross Chain Proof of Stake (i.e. stake XSN, receive BTC)
https://medium.com/stakenet/posw-weekly-ccpos-cross-chain-proof-of-stake-de1ac87055cd
>The Cypherpunk Standard of Banking
https://medium.com/altcoin-magazine/the-cypherpunk-standard-of-banking-88f84a834180
>Most recent Dev Update
https://medium.com/stakenet/xsn-core-dev-update-july-12-2020-72cac6050377

Further reads
https://medium.com/stakenets

>>21021110
>He hasn't finished accumulating

DEX is launching THIS MONTH.

Sorry bro, already made a cyberpunk meme for iExec
Your token is cute though, might read the white paper later

>>21021110
You ain't getting my XSN bags you shitty little faggot.
Stop pretending you are against the project, when it's very clear you are already in it and just want people to dump into your buy walls.
These approach is getting old.

Just set up a masternode and it's at "PRE_ENABLED" status and in the cloud it shows as "not initialized".

Will it go up in a couple of hours/days or have i fucked up? I made it via the cloud and all was well and it started in the core wallet easily. Do i wait or am i fucked?

>>21021224
Very respectable meme anon, but Stakenet is no meme.

This is the Cyberpunk future we dreamed crypto would bring us, and we get to invest in it at the ground level.

>>21022226
Yes anon it will take a couple of days to fully initialise at first.

>>21021216
I wouldn't expect too much from anonymous devs if I were you.

>>21020868
DELETE THIS I HAVENT BOUGHT ENOUGH STAKENET YET AAAAUUUGHGHHHHHH

>>21022294
>anonymous devs

...right
https://www.x9developers.com/

>>21022303
The clock is ticking anon.

>>21022393
They delayed too many times in the past. What makes you think they'll follow their "promise"?

>>21022522
>They delayed too many times in the past.

proof? oh what there isn't any? thats too bad.

YOU HAD TWO YEARS.

>>21022303
LOL

>>21022466
at this point should i just take out a loan?? i really dont wanna sell any of my portfolio atm cause of impending golden bull run, but im also worried stakenet will get discovered during this run

>>21022615
the alt bullrun probably won't happen till btc and eth shine
and hopefully it'll be hosted by stakenet

From another thread,

>How many dex's do we need? Why would I buy this? There are plenty of other good dex's.

Right now all dexes are on-chain solutions.

This means slippage in the form of high transaction fees and returned transactions (that grow depending on the complexity of the trade required), and impermanent loss due to the nature of having to provide liquidity separately from the ordering/trading being performed on the platform.

Stakenet solves both of these problems, by offering low-fee trades with a traditional order book that operates on a layer-2 solution (in this case, lightning network for LTC-BTC-XSN pairs, and in the future Raiden for ETH and ERC pairs).

This layer 2 solution allows for near-zero slippage (only a 0.2% transaction fee, as opposed to the .002-.04 ETH on-chain gas fees for uniswap, as an example).

In addition, layer 2 solutions of LN + Raiden will allow for cross-chain trades between BTC/LTC/XSN and ETH directly. THIS IS A FEATURE NO OTHER DEX CAN REPLICATE. Some dexes offer "wrapped BTC", but this wrapped BTC cannot be treated like BTC; it has to be exchanged back into an ERC or ETH to be spent.

Finally, due to the decentralized nature of the stakenet exchange, KYC solutions will not be implemented on the platform, meaning all of the features of the dex will be available, anonymously.

FInally, from a UI/UX standpoint, the dex will have all the features of a traditional cex in terms of TA/pricing research, as the dex has implemented tradingview compatibility for all matched pairs in the current platform. This functionality would then extend to any other trading pair offered in the dex.

Does that help explain why your on-chain dex is shit and its volume will be essentially transitioned to Stakenet by Q2 2021?

>>21021224
Also XSN is not a token.
It's a coin.

>>21022927
difference?

>>21023025
nvm i figured it out, ERC20 are tokens cause they dont have their own chain but XSN has it's own chain

>>21022615
I would never advocate taking a loan even if its XSN which i believe a 100x within 2 years is almost certain. I have most of my net worth in XSN, but taking a loan for investments is just always irresponsible.

Although to be honest i have never had a loan and after XSN i will never have to