Instead of just sitting idly by while some of these patents go around can we dig up some prior art and send it in? How can ebay claim to patent a reputation system regarding cryptocurrency when it is *obvious* /r/Bitcoin
My Provisional List of COVID Anomalies, Red/ False Flags & Clear Indications of Scumbaggery And Scambuggery. LIHOP, MIHOP Or HOAX/SCAM? Def Not As Described. Very Much Updated Since 1st Posting. Please Let Me Know What I’ve Missed Or Add Links. Repost, Due To Strange Disappearance of 90% Of My Post.
Not going to add to my existing paranoia by speculating, but here it is updated... Here’s my Top 22 list of suspicious shenanigans and red flags surrounding the COVID narrative:
The Imperial College Death data - Neil Ferguson and Gates-funded Imperial College, London Model that ‘persuaded’ Johnson and Trump to lockdown. Projected 500K deaths in UK and 2.2m deaths in US, EVEN WITH LOCKDOWN. Less than 10% accuracy but 110% alarmist, and evidence that the coding was deliberately flawed and designed to inflate numbers. Gates funding everyone involved in the staged 'debacle'.
DDDD - The Rise of “Buy the Dip” Retail Investors and Why Another Crash Is Imminent
In this week's edition of DDDD (Data-driven DD), I'll be going over the real reason why we have been seeing a rally for the past few weeks, defying all logic and fundamentals - retail investors. We'll look into several data sets to see how retail interest in stock markets have reached record levels in the past few weeks, how this affected stock prices, and why we've most likely seen the top at this point, unless we see one of the "positive catalysts" that I mentioned in my previous post, which is unlikely (except for more news about Remdesivir). Disclaimer - This is not financial advice, and a lot of the content below is my personal opinion. In fact, the numbers, facts, or explanations presented below could be wrong and be made up. Don't buy random options because some person on the internet says so; look at what happened to all the SPY 220p 4/17 bag holders. Do your own research and come to your own conclusions on what you should do with your own money, and how levered you want to be based on your personal risk tolerance. Inspiration Most people who know me personally know that I spend an unhealthy amount of my free time in finance and trading as a hobby, even competing in paper options trading competitions when I was in high school. A few weeks ago, I had a friend ask if he could call me because he just installed Robinhood and wanted to buy SPY puts after seeing everyone on wallstreetbets post gains posts from all the tendies they’ve made from their SPY puts. The problem was, he actually didn’t understand how options worked at all, and needed a thorough explanation about how options are priced, what strike prices and expiration dates mean, and what the right strategy to buying options are. That’s how I knew we were at the euphoria stage of buying SPY puts - it’s when dumb money starts to pour in, and people start buying securities because they see everyone else making money and they want in, even if they have no idea what they’re buying, and price becomes dislocated from fundementals. Sure enough, less than a week later, we started the bull rally that we are currently in. Bubbles are formed when people buy something not because of logic or even gut feeling, but when people who previously weren’t involved see their dumb neighbors make tons of money from it, and they don’t want to miss out. A few days ago, I started getting questions from other friends about what stocks they should buy and if I thought something was a good investment. That inspired me to dig a bit deeper to see how many other people are thinking the same thing. Data Ever since March, we’ve seen an unprecedented amount of money pour into the stock market from retail investors. Google Search Trends \"what stock should I buy\" Google Trends 2004 - 2020 \"what stock should I buy\" Google Trends 12 months \"stocks\" Google Trends 2004 - 2020 \"stocks\" Google Trends 12 months Brokerage data Robinhood SPY holders \"Robinhood\" Google Trends 12 months wallstreetbets' favorite broker Google Trends 12 months Excerpt from E*Trade earnings statement Excerpt from Schwab earnings statement TD Ameritrade Excerpt Media cnbc.com Alexa rank CNBC viewership & rankings wallstreetbets comments / day investing comments / day Analysis What we can see from Reddit numbers, Google Trends, and CNBC stats is that in between the first week of March and first week of April, we see a massive inflow of retail interest in the stock market. Not only that, but this inflow of interest is coming from all age cohorts, from internet-using Zoomers to TV-watching Boomers. Robinhood SPY holdings and earnings reports from E*Trade, TD Ameritrade, and Schwab have also all confirmed record numbers of new clients, number of trades, and assets. There’s something interesting going on if you look closer at the numbers. The numbers growth in brokers for designed for “less sophisticated” investors (i.e. Robinhood and E*Trade) are much larger than for real brokers (i.e. Schwab and Ameritrade). This implies that the record number of new users and trade volume is coming from dumb money. The numbers shown here only really apply to the US and Canada, but there’s also data to suggest that there’s also record numbers of foreign investors pouring money into the US stock market as well. However, after the third week of March, we see the interest start to slowly decline and plateau, indicating that we probably have seen most of those new investors who wanted to have a long position in the market do so. SPX daily Rationale Pretty much everything past this point is purely speculation, and isn’t really backed up by any solid data so take whatever I say here with a cup of salt. We could see from the graph that new investor interest started with the first bull trap we saw in the initial decline from early March, and peaking right after the end of the crash in March. So it would be fair to guess that we’re seeing a record amount of interest in the stock market from a “buy the dip” mentality, especially from Robinhood-using Millennials. Here’s a few points on my rationalization of this behavior, based on very weak anecdotal evidence
They missed out of their chance of getting in the stock market at the start of the bull market that happened at the end of 2009
They’ve all seen the stock market make record gains throughout their adult lives, but believing that the market might be overheated, they were waiting for a crash
Most of them have gotten towards the stage of their lives where they actually have some savings and can finally put some money aside for investments
This stock market crash seems like their once-in-a-decade opportunity that they’ve been waiting for, so everyone jumped in
Everyone’s stuck at their homes with vast amounts of unexpected free time on their hands
Most of these new investors got their first taste in the market near the bottom, and probably made some nice returns. Of course, since they didn’t know what they were doing, they probably put a very small amount of money at first, but after seeing a 10% return over one week, validating that maybe they do know something, they decide to slowly pour in more and more of their life savings. That’s what’s been fueling this bull market. Sentiment & Magic Crayons As I mentioned previously, this bull rally will keep going until enough bears convert to bulls. Markets go up when the amount of new bullish positions outnumber the amount of new bearish positions, and vice versa. Record amounts of new investors, who previously never held a position in the market before, fueled the bullish side of this equation, despite all the negative data that has come out and dislocating the price from fundamentals. All the smart money that was shorting the markets saw this happening, and flipped to become bulls because you don’t fight the trend, even if the trend doesn’t reflect reality. From the data shown above, we can see new investor interest growth has started declining since mid March and started stagnating in early April. The declining volume in SPY since mid-March confirms this. That means, once the sentiment of the new retail investors starts to turn bearish, and everyone figures out how much the stocks they’re holding are really worth, another sell-off will begin. I’ve seen something very similar to this a few years ago with Bitcoin. Near the end of 2017, Bitcoin started to become mainstream and saw a flood of retail investors suddenly signing up for Coinbase (i.e. Robinhood) accounts and buying Bitcoin without actually understanding what it is and how it works. Suddenly everyone, from co-workers to grandparents, starts talking about Bitcoin and might have thrown a few thousand dollars into it. This appears to be a very similar parallel to what’s going on right now. Of course there’s differences here in that equities have an intrinsic value, although many of them have gone way above what they should be intrinsically worth, and the vast majority of retail investors don’t understand how to value companies. Then, during December, when people started thinking that the market was getting a bit overheated, some started taking their profits, and that’s when the prices crashed violently. This flip in sentiment now look like it has started with equities. SPY daily Technical Analysis, or magic crayons, is a discipline in finance that uses statistical analysis to predict market trends based on market sentiment. Of course, a lot of this is hand-wavy and is very subjective; two people doing TA on the same price history can end up getting opposite results, so TA should always be taken with a grain of salt and ideally be backed with underlying justification and not be blindly followed. In fact, I’ve since corrected the ascending wedge I had on SPY since my last post since this new wedge is a better fit for the new trading data. There’s a few things going on in this chart. The entire bull rally we’ve had since the lows can be modelled using a rising wedge. This is a pattern where there is a convergence of a rising support and resistance trendline, along with falling volume. This indicates a slow decline in net bullish sentiment with investors, with smaller and smaller upside after each bounce off the support until it hits a resistance. The smaller the bounces, the less bullish investors are. When the bearish sentiment takes over across investors, the price breaks below this wedge - a breakdown, and indicates a start of another downtrend. This happened when the wedge hit resistance at around 293, which is around the same price as the 200 day moving average, the 62% retracement (considered to be the upper bound of a bull trap), and a price level that acted as a support and resistance throughout 2019. The fact that it gapped down to break this wedge is also a strong signal, indicating a sudden swing in investor sentiment overnight. The volume of the break down also broke the downwards trend of volume we’ve had since the beginning of the bull rally, indicating a sudden surge of people selling their shares. This doesn’t necessarily mean that we will go straight from here, and I personally think that we will see the completion of a heads-and-shoulders pattern complete before SPY goes below 274, which in itself is a strong support level. In other words, SPY might go from 282 -> 274 -> 284 -> 274 before breaking the 274 support level. VIX Daily Doing TA is already sketchy, and doing TA on something like VIX is even more sketchy, but I found this interesting so I’ll mention it. Since the start of the bull rally, we’ve had VIX inside a descending channel. With the breakdown we had in SPY yesterday, VIX has also gapped up to have a breakout from this channel, indicating that we may see future volatility in the next week or so. Putting Everything Together Finally, we get to my thesis. This entire bull rally has been fueled by new retail investors buying the dip, bringing the stock price to euphoric levels. Over the past few weeks, we’ve been seeing the people waiting at the sidelines for years to get into the stock market slowly FOMO into the rally in smaller and smaller volumes, while the smart money have been locking in their profits at an even slower rate - hence an ascending wedge. As the amount of new retail interest in the stock market started slowed down, the amount of new bulls started to decline. It looks like Friday might have been the start of the bearish sentiment taking over, meaning it’s likely that 293 was the top, unless any significant bullish events happen in the next two weeks like a fourth round of stimulus, in which case we might see 300. This doesn’t mean we’ll instantly go back to circuit breakers on Monday, and we might see 282 -> 274 -> 284 -> 274 happen before panic, this time by the first-time investors, eventually bringing us down towards SPY 180. tldr; we've reached the top EDIT - I'll keep a my live thoughts here as we move throughout this week in case anyone's still reading this and interested. 5/4 8PM - /ES was red last night but steadily climbed, which was expected since 1h RSI was borderline oversold, leaving us to a slightly green day. /ES looks like it has momentum going up, but is approaching towards overbought territory now. Expecting it to go towards 284 (possibly where we'll open tomorrow) and bouncing back down from that price level 5/5 Market Open - Well there goes my price target. I guess at this point it might go up to 293 again, but will need a lot of momentum to push back there to 300. Seems like this is being driven by oil prices skyrocketing. 5/5 3:50PM - Volume for the upwards price action had very little volume behind it. Seeing a selloff EOD today, could go either way although I have a bearish bias. Going to hold cash until it goes towards one end of the 274-293 channel (see last week's thesis). Still believe that we will see it drop below 274 next week, but we might be moving sideways in the channel this week and a bit of next week before that happens. Plan for tomorrow is buy short dated puts if open < 285. Otherwise, wait till it goes to 293 before buying those puts 5/5 6PM - What we saw today could be a false breakout above 284. Need tomorrow to open below 285 for that to be confirmed. If so, my original thesis of it going back down to 274 before bouncing back up will still be in play. 5/6 EOD - Wasn't a false breakout. Looks like it's still forming the head-and-shoulders pattern mentioned before, but 288 instead of 284 as the level. Still not sure yet so I'm personally going to be holding cash and waiting this out for the next few days. Will enter into short positions if we either go near 293 again or drop below 270. Might look into VIX calls if VIX goes down near 30. 5/7 Market Open - Still waiting. If we break 289 we're probably heading to 293. I'll make my entry to short positions when we hit that a second time. There's very little bullish momentum left (see MACD 1D), so if we hit 293 and then drop back down, we'll have a MACD crossover event which many traders and algos use as a sell signal. Oil is doing some weird shit. 5/7 Noon - Looks like we're headed to 293. Picked up VIX 32.5c 5/27 since VIX is near 30. 5/7 11PM - /ES is hovering right above 2910, with 4h and 1h charts are bullish from MACD and 1h is almost overbought in RSI. Unless something dramatic happens we'll probably hit near 293 tomorrow, which is where I'll get some SPY puts. We might drop down before ever touching it, or go all the way to 295 (like last time) during the day, but expecting it to close at or below 293. After that I'm expecting a gap down Monday as we start the final leg down next week towards 274. Expecting 1D MACD to crossover in the final leg down, which will be a signal for bears to take over and institutions / day traders will start selling again 5/8 Market Open - Plan is to wait till a good entry today, either when technicals looks good or we hit 293, and then buy some SPY June 285p and July 275p 5/8 Noon - Everything still going according to plan. Most likely going to slowly inch towards 293 by EOD. Will probably pick up SPY puts and more VIX calls at power hour (3 - 4PM). Monday will probably gap down, although there's a small chance of one more green / sideways day before that happens if we have bullish catalysts on the weekend. 5/8 3:55PM - SPY at 292.60. This is probably going to be the closest we get to 293. Bought SPY 290-260 6/19 debit spreads and 292-272 5/15 debit spreads, as well as doubling down on VIX calls from yesterday, decreasing my cost basis. Still looks like there's room for one more green day on Monday, so I left some money on the side to double down if that's the case, although it's more likely than not we won't get there. 5/8 EOD - Looks like we barely touched 293 exactly AH before rebounding down. Too bad you can't buy options AH, but more convinced we'll see a gap down on Monday. Going to work on another post over the weekend and do my updates there. Have a great weekend everyone!
Hey all, I've been researching coins since 2017 and have gone through 100s of them in the last 3 years. I got introduced to blockchain via Bitcoin of course, analyzed Ethereum thereafter and from that moment I have a keen interest in smart contact platforms. I’m passionate about Ethereum but I find Zilliqa to have a better risk-reward ratio. Especially because Zilliqa has found an elegant balance between being secure, decentralized and scalable in my opinion.
Below I post my analysis of why from all the coins I went through I’m most bullish on Zilliqa (yes I went through Tezos, EOS, NEO, VeChain, Harmony, Algorand, Cardano etc.). Note that this is not investment advice and although it's a thorough analysis there is obviously some bias involved. Looking forward to what you all think!
Fun fact: the name Zilliqa is a play on ‘silica’ silicon dioxide which means “Silicon for the high-throughput consensus computer.”
This post is divided into (i) Technology, (ii) Business & Partnerships, and (iii) Marketing & Community. I’ve tried to make the technology part readable for a broad audience. If you’ve ever tried understanding the inner workings of Bitcoin and Ethereum you should be able to grasp most parts. Otherwise, just skim through and once you are zoning out head to the next part.
Technology and some more:
The technology is one of the main reasons why I’m so bullish on Zilliqa. First thing you see on their website is: “Zilliqa is a high-performance, high-security blockchain platform for enterprises and next-generation applications.” These are some bold statements.
Before we deep dive into the technology let’s take a step back in time first as they have quite the history. The initial research paper from which Zilliqa originated dates back to August 2016: Elastico: A Secure Sharding Protocol For Open Blockchains where Loi Luu (Kyber Network) is one of the co-authors. Other ideas that led to the development of what Zilliqa has become today are: Bitcoin-NG, collective signing CoSi, ByzCoin and Omniledger.
The technical white paper was made public in August 2017 and since then they have achieved everything stated in the white paper and also created their own open source intermediate level smart contract language called Scilla (functional programming language similar to OCaml) too.
Mainnet is live since the end of January 2019 with daily transaction rates growing continuously. About a week ago mainnet reached 5 million transactions, 500.000+ addresses in total along with 2400 nodes keeping the network decentralized and secure. Circulating supply is nearing 11 billion and currently only mining rewards are left. The maximum supply is 21 billion with annual inflation being 7.13% currently and will only decrease with time.
Zilliqa realized early on that the usage of public cryptocurrencies and smart contracts were increasing but decentralized, secure, and scalable alternatives were lacking in the crypto space. They proposed to apply sharding onto a public smart contract blockchain where the transaction rate increases almost linear with the increase in the amount of nodes. More nodes = higher transaction throughput and increased decentralization. Sharding comes in many forms and Zilliqa uses network-, transaction- and computational sharding. Network sharding opens up the possibility of using transaction- and computational sharding on top. Zilliqa does not use state sharding for now. We’ll come back to this later.
Before we continue dissecting how Zilliqa achieves such from a technological standpoint it’s good to keep in mind that a blockchain being decentralised and secure and scalable is still one of the main hurdles in allowing widespread usage of decentralised networks. In my opinion this needs to be solved first before blockchains can get to the point where they can create and add large scale value. So I invite you to read the next section to grasp the underlying fundamentals. Because after all these premises need to be true otherwise there isn’t a fundamental case to be bullish on Zilliqa, right?
Down the rabbit hole
How have they achieved this? Let’s define the basics first: key players on Zilliqa are the users and the miners. A user is anybody who uses the blockchain to transfer funds or run smart contracts. Miners are the (shard) nodes in the network who run the consensus protocol and get rewarded for their service in Zillings (ZIL). The mining network is divided into several smaller networks called shards, which is also referred to as ‘network sharding’. Miners subsequently are randomly assigned to a shard by another set of miners called DS (Directory Service) nodes. The regular shards process transactions and the outputs of these shards are eventually combined by the DS shard as they reach consensus on the final state. More on how these DS shards reach consensus (via pBFT) will be explained later on.
The Zilliqa network produces two types of blocks: DS blocks and Tx blocks. One DS Block consists of 100 Tx Blocks. And as previously mentioned there are two types of nodes concerned with reaching consensus: shard nodes and DS nodes. Becoming a shard node or DS node is being defined by the result of a PoW cycle (Ethash) at the beginning of the DS Block. All candidate mining nodes compete with each other and run the PoW (Proof-of-Work) cycle for 60 seconds and the submissions achieving the highest difficulty will be allowed on the network. And to put it in perspective: the average difficulty for one DS node is ~ 2 Th/s equaling 2.000.000 Mh/s or 55 thousand+ GeForce GTX 1070 / 8 GB GPUs at 35.4 Mh/s. Each DS Block 10 new DS nodes are allowed. And a shard node needs to provide around 8.53 GH/s currently (around 240 GTX 1070s). Dual mining ETH/ETC and ZIL is possible and can be done via mining software such as Phoenix and Claymore. There are pools and if you have large amounts of hashing power (Ethash) available you could mine solo.
The PoW cycle of 60 seconds is a peak performance and acts as an entry ticket to the network. The entry ticket is called a sybil resistance mechanism and makes it incredibly hard for adversaries to spawn lots of identities and manipulate the network with these identities. And after every 100 Tx Blocks which corresponds to roughly 1,5 hour this PoW process repeats. In between these 1,5 hour, no PoW needs to be done meaning Zilliqa’s energy consumption to keep the network secure is low. For more detailed information on how mining works click here. Okay, hats off to you. You have made it this far. Before we go any deeper down the rabbit hole we first must understand why Zilliqa goes through all of the above technicalities and understand a bit more what a blockchain on a more fundamental level is. Because the core of Zilliqa’s consensus protocol relies on the usage of pBFT (practical Byzantine Fault Tolerance) we need to know more about state machines and their function. Navigate to Viewblock, a Zilliqa block explorer, and just come back to this article. We will use this site to navigate through a few concepts.
We have established that Zilliqa is a public and distributed blockchain. Meaning that everyone with an internet connection can send ZILs, trigger smart contracts, etc. and there is no central authority who fully controls the network. Zilliqa and other public and distributed blockchains (like Bitcoin and Ethereum) can also be defined as state machines.
Taking the liberty of paraphrasing examples and definitions given by Samuel Brooks’ medium article, he describes the definition of a blockchain (like Zilliqa) as: “A peer-to-peer, append-only datastore that uses consensus to synchronize cryptographically-secure data”.
Next, he states that: "blockchains are fundamentally systems for managing valid state transitions”. For some more context, I recommend reading the whole medium article to get a better grasp of the definitions and understanding of state machines. Nevertheless, let’s try to simplify and compile it into a single paragraph. Take traffic lights as an example: all its states (red, amber, and green) are predefined, all possible outcomes are known and it doesn’t matter if you encounter the traffic light today or tomorrow. It will still behave the same. Managing the states of a traffic light can be done by triggering a sensor on the road or pushing a button resulting in one traffic lights’ state going from green to red (via amber) and another light from red to green.
With public blockchains like Zilliqa, this isn’t so straightforward and simple. It started with block #1 almost 1,5 years ago and every 45 seconds or so a new block linked to the previous block is being added. Resulting in a chain of blocks with transactions in it that everyone can verify from block #1 to the current #647.000+ block. The state is ever changing and the states it can find itself in are infinite. And while the traffic light might work together in tandem with various other traffic lights, it’s rather insignificant comparing it to a public blockchain. Because Zilliqa consists of 2400 nodes who need to work together to achieve consensus on what the latest valid state is while some of these nodes may have latency or broadcast issues, drop offline or are deliberately trying to attack the network, etc.
Now go back to the Viewblock page take a look at the amount of transaction, addresses, block and DS height and then hit refresh. Obviously as expected you see new incremented values on one or all parameters. And how did the Zilliqa blockchain manage to transition from a previous valid state to the latest valid state? By using pBFT to reach consensus on the latest valid state.
After having obtained the entry ticket, miners execute pBFT to reach consensus on the ever-changing state of the blockchain. pBFT requires a series of network communication between nodes, and as such there is no GPU involved (but CPU). Resulting in the total energy consumed to keep the blockchain secure, decentralized and scalable being low.
pBFT stands for practical Byzantine Fault Tolerance and is an optimization on the Byzantine Fault Tolerant algorithm. To quote Blockonomi: “In the context of distributed systems, Byzantine Fault Tolerance is the ability of a distributed computer network to function as desired and correctly reach a sufficient consensus despite malicious components (nodes) of the system failing or propagating incorrect information to other peers.” Zilliqa is such a distributed computer network and depends on the honesty of the nodes (shard and DS) to reach consensus and to continuously update the state with the latest block. If pBFT is a new term for you I can highly recommend the Blockonomi article.
The idea of pBFT was introduced in 1999 - one of the authors even won a Turing award for it - and it is well researched and applied in various blockchains and distributed systems nowadays. If you want more advanced information than the Blockonomi link provides click here. And if you’re in between Blockonomi and the University of Singapore read the Zilliqa Design Story Part 2 dating from October 2017. Quoting from the Zilliqa tech whitepaper: “pBFT relies upon a correct leader (which is randomly selected) to begin each phase and proceed when the sufficient majority exists. In case the leader is byzantine it can stall the entire consensus protocol. To address this challenge, pBFT offers a view change protocol to replace the byzantine leader with another one.”
pBFT can tolerate ⅓ of the nodes being dishonest (offline counts as Byzantine = dishonest) and the consensus protocol will function without stalling or hiccups. Once there are more than ⅓ of dishonest nodes but no more than ⅔ the network will be stalled and a view change will be triggered to elect a new DS leader. Only when more than ⅔ of the nodes are dishonest (66%) double-spend attacks become possible.
If the network stalls no transactions can be processed and one has to wait until a new honest leader has been elected. When the mainnet was just launched and in its early phases, view changes happened regularly. As of today the last stalling of the network - and view change being triggered - was at the end of October 2019.
Another benefit of using pBFT for consensus besides low energy is the immediate finality it provides. Once your transaction is included in a block and the block is added to the chain it’s done. Lastly, take a look at this article where three types of finality are being defined: probabilistic, absolute and economic finality. Zilliqa falls under the absolute finality (just like Tendermint for example). Although lengthy already we skipped through some of the inner workings from Zilliqa’s consensus: read the Zilliqa Design Story Part 3 and you will be close to having a complete picture on it. Enough about PoW, sybil resistance mechanism, pBFT, etc. Another thing we haven’t looked at yet is the amount of decentralization.
Currently, there are four shards, each one of them consisting of 600 nodes. 1 shard with 600 so-called DS nodes (Directory Service - they need to achieve a higher difficulty than shard nodes) and 1800 shard nodes of which 250 are shard guards (centralized nodes controlled by the team). The amount of shard guards has been steadily declining from 1200 in January 2019 to 250 as of May 2020. On the Viewblock statistics, you can see that many of the nodes are being located in the US but those are only the (CPU parts of the) shard nodes who perform pBFT. There is no data from where the PoW sources are coming. And when the Zilliqa blockchain starts reaching its transaction capacity limit, a network upgrade needs to be executed to lift the current cap of maximum 2400 nodes to allow more nodes and formation of more shards which will allow to network to keep on scaling according to demand. Besides shard nodes there are also seed nodes. The main role of seed nodes is to serve as direct access points (for end-users and clients) to the core Zilliqa network that validates transactions. Seed nodes consolidate transaction requests and forward these to the lookup nodes (another type of nodes) for distribution to the shards in the network. Seed nodes also maintain the entire transaction history and the global state of the blockchain which is needed to provide services such as block explorers. Seed nodes in the Zilliqa network are comparable to Infura on Ethereum.
The seed nodes were first only operated by Zilliqa themselves, exchanges and Viewblock. Operators of seed nodes like exchanges had no incentive to open them for the greater public. They were centralised at first. Decentralisation at the seed nodes level has been steadily rolled out since March 2020 ( Zilliqa Improvement Proposal 3 ). Currently the amount of seed nodes is being increased, they are public-facing and at the same time PoS is applied to incentivize seed node operators and make it possible for ZIL holders to stake and earn passive yields. Important distinction: seed nodes are not involved with consensus! That is still PoW as entry ticket and pBFT for the actual consensus.
5% of the block rewards are being assigned to seed nodes (from the beginning in 2019) and those are being used to pay out ZIL stakers. The 5% block rewards with an annual yield of 10.03% translate to roughly 610 MM ZILs in total that can be staked. Exchanges use the custodial variant of staking and wallets like Moonlet will use the non-custodial version (starting in Q3 2020). Staking is being done by sending ZILs to a smart contract created by Zilliqa and audited by Quantstamp.
With a high amount of DS; shard nodes and seed nodes becoming more decentralized too, Zilliqa qualifies for the label of decentralized in my opinion.
Generalized: programming languages can be divided into being ‘object-oriented’ or ‘functional’. Here is an ELI5 given by software development academy: * “all programs have two basic components, data – what the program knows – and behavior – what the program can do with that data. So object-oriented programming states that combining data and related behaviors in one place, is called “object”, which makes it easier to understand how a particular program works. On the other hand, functional programming argues that data and behavior are different things and should be separated to ensure their clarity.” *
Scilla is on the functional side and shares similarities with OCaml: OCaml is a general-purpose programming language with an emphasis on expressiveness and safety. It has an advanced type system that helps catch your mistakes without getting in your way. It's used in environments where a single mistake can cost millions and speed matters, is supported by an active community, and has a rich set of libraries and development tools. For all its power, OCaml is also pretty simple, which is one reason it's often used as a teaching language.
Scilla is blockchain agnostic, can be implemented onto other blockchains as well, is recognized by academics and won a so-called Distinguished Artifact Award award at the end of last year.
One of the reasons why the Zilliqa team decided to create their own programming language focused on preventing smart contract vulnerabilities is that adding logic on a blockchain, programming, means that you cannot afford to make mistakes. Otherwise, it could cost you. It’s all great and fun blockchains being immutable but updating your code because you found a bug isn’t the same as with a regular web application for example. And with smart contracts, it inherently involves cryptocurrencies in some form thus value.
Another difference with programming languages on a blockchain is gas. Every transaction you do on a smart contract platform like Zilliqa or Ethereum costs gas. With gas you basically pay for computational costs. Sending a ZIL from address A to address B costs 0.001 ZIL currently. Smart contracts are more complex, often involve various functions and require more gas (if gas is a new concept click here ).
So with Scilla, similar to Solidity, you need to make sure that “every function in your smart contract will run as expected without hitting gas limits. An improper resource analysis may lead to situations where funds may get stuck simply because a part of the smart contract code cannot be executed due to gas limits. Such constraints are not present in traditional software systems”.Scilla design story part 1
Some examples of smart contract issues you’d want to avoid are: leaking funds, ‘unexpected changes to critical state variables’ (example: someone other than you setting his or her address as the owner of the smart contract after creation) or simply killing a contract.
Scilla also allows for formal verification. Wikipedia to the rescue: In the context of hardware and software systems, formal verification is the act of proving or disproving the correctness of intended algorithms underlying a system with respect to a certain formal specification or property, using formal methods of mathematics.
Formal verification can be helpful in proving the correctness of systems such as: cryptographic protocols, combinational circuits, digital circuits with internal memory, and software expressed as source code.
“Scilla is being developed hand-in-hand with formalization of its semantics and its embedding into the Coq proof assistant — a state-of-the art tool for mechanized proofs about properties of programs.”
Simply put, with Scilla and accompanying tooling developers can be mathematically sure and proof that the smart contract they’ve written does what he or she intends it to do.
Smart contract on a sharded environment and state sharding
There is one more topic I’d like to touch on: smart contract execution in a sharded environment (and what is the effect of state sharding). This is a complex topic. I’m not able to explain it any easier than what is posted here. But I will try to compress the post into something easy to digest.
Earlier on we have established that Zilliqa can process transactions in parallel due to network sharding. This is where the linear scalability comes from. We can define simple transactions: a transaction from address A to B (Category 1), a transaction where a user interacts with one smart contract (Category 2) and the most complex ones where triggering a transaction results in multiple smart contracts being involved (Category 3). The shards are able to process transactions on their own without interference of the other shards. With Category 1 transactions that is doable, with Category 2 transactions sometimes if that address is in the same shard as the smart contract but with Category 3 you definitely need communication between the shards. Solving that requires to make a set of communication rules the protocol needs to follow in order to process all transactions in a generalised fashion.
There is no strict defined roadmap but here are topics being worked on. And via the Zilliqa website there is also more information on the projects they are working on.
Business & Partnerships
It’s not only technology in which Zilliqa seems to be excelling as their ecosystem has been expanding and starting to grow rapidly. The project is on a mission to provide OpenFinance (OpFi) to the world and Singapore is the right place to be due to its progressive regulations and futuristic thinking. Singapore has taken a proactive approach towards cryptocurrencies by introducing the Payment Services Act 2019 (PS Act). Among other things, the PS Act will regulate intermediaries dealing with certain cryptocurrencies, with a particular focus on consumer protection and anti-money laundering. It will also provide a stable regulatory licensing and operating framework for cryptocurrency entities, effectively covering all crypto businesses and exchanges based in Singapore. According to PWC 82% of the surveyed executives in Singapore reported blockchain initiatives underway and 13% of them have already brought the initiatives live to the market. There is also an increasing list of organizations that are starting to provide digital payment services. Moreover, Singaporean blockchain developers Building Cities Beyond has recently created an innovation $15 million grant to encourage development on its ecosystem. This all suggests that Singapore tries to position itself as (one of) the leading blockchain hubs in the world.
Zilliqa seems to already take advantage of this and recently helped launch Hg Exchange on their platform, together with financial institutions PhillipCapital, PrimePartners and Fundnel. Hg Exchange, which is now approved by the Monetary Authority of Singapore (MAS), uses smart contracts to represent digital assets. Through Hg Exchange financial institutions worldwide can use Zilliqa's safe-by-design smart contracts to enable the trading of private equities. For example, think of companies such as Grab, Airbnb, SpaceX that are not available for public trading right now. Hg Exchange will allow investors to buy shares of private companies & unicorns and capture their value before an IPO. Anquan, the main company behind Zilliqa, has also recently announced that they became a partner and shareholder in TEN31 Bank, which is a fully regulated bank allowing for tokenization of assets and is aiming to bridge the gap between conventional banking and the blockchain world. If STOs, the tokenization of assets, and equity trading will continue to increase, then Zilliqa’s public blockchain would be the ideal candidate due to its strategic positioning, partnerships, regulatory compliance and the technology that is being built on top of it.
What is also very encouraging is their focus on banking the un(der)banked. They are launching a stablecoin basket starting with XSGD. As many of you know, stablecoins are currently mostly used for trading. However, Zilliqa is actively trying to broaden the use case of stablecoins. I recommend everybody to read this text that Amrit Kumar wrote (one of the co-founders). These stablecoins will be integrated in the traditional markets and bridge the gap between the crypto world and the traditional world. This could potentially revolutionize and legitimise the crypto space if retailers and companies will for example start to use stablecoins for payments or remittances, instead of it solely being used for trading.
Zilliqa also released their DeFi strategic roadmap (dating November 2019) which seems to be aligning well with their OpFi strategy. A non-custodial DEX is coming to Zilliqa made by Switcheo which allows cross-chain trading (atomic swaps) between ETH, EOS and ZIL based tokens. They also signed a Memorandum of Understanding for a (soon to be announced) USD stablecoin. And as Zilliqa is all about regulations and being compliant, I’m speculating on it to be a regulated USD stablecoin. Furthermore, XSGD is already created and visible on block explorer and XIDR (Indonesian Stablecoin) is also coming soon via StraitsX. Here also an overview of the Tech Stack for Financial Applications from September 2019. Further quoting Amrit Kumar on this:
There are two basic building blocks in DeFi/OpFi though: 1) stablecoins as you need a non-volatile currency to get access to this market and 2) a dex to be able to trade all these financial assets. The rest are built on top of these blocks.
So far, together with our partners and community, we have worked on developing these building blocks with XSGD as a stablecoin. We are working on bringing a USD-backed stablecoin as well. We will soon have a decentralised exchange developed by Switcheo. And with HGX going live, we are also venturing into the tokenization space. More to come in the future.”
Additionally, they also have this ZILHive initiative that injects capital into projects. There have been already 6 waves of various teams working on infrastructure, innovation and research, and they are not from ASEAN or Singapore only but global: see Grantees breakdown by country. Over 60 project teams from over 20 countries have contributed to Zilliqa's ecosystem. This includes individuals and teams developing wallets, explorers, developer toolkits, smart contract testing frameworks, dapps, etc. As some of you may know, Unstoppable Domains (UD) blew up when they launched on Zilliqa. UD aims to replace cryptocurrency addresses with a human-readable name and allows for uncensorable websites. Zilliqa will probably be the only one able to handle all these transactions onchain due to ability to scale and its resulting low fees which is why the UD team launched this on Zilliqa in the first place. Furthermore, Zilliqa also has a strong emphasis on security, compliance, and privacy, which is why they partnered with companies like Elliptic, ChainSecurity (part of PwC Switzerland), and Incognito. Their sister company Aqilliz (Zilliqa spelled backwards) focuses on revolutionizing the digital advertising space and is doing interesting things like using Zilliqa to track outdoor digital ads with companies like Foodpanda.
Zilliqa is listed on nearly all major exchanges, having several different fiat-gateways and recently have been added to Binance’s margin trading and futures trading with really good volume. They also have a very impressive team with good credentials and experience. They don't just have “tech people”. They have a mix of tech people, business people, marketeers, scientists, and more. Naturally, it's good to have a mix of people with different skill sets if you work in the crypto space.
Marketing & Community
Zilliqa has a very strong community. If you just follow their Twitter their engagement is much higher for a coin that has approximately 80k followers. They also have been ‘coin of the day’ by LunarCrush many times. LunarCrush tracks real-time cryptocurrency value and social data. According to their data, it seems Zilliqa has a more fundamental and deeper understanding of marketing and community engagement than almost all other coins. While almost all coins have been a bit frozen in the last months, Zilliqa seems to be on its own bull run. It was somewhere in the 100s a few months ago and is currently ranked #46 on CoinGecko. Their official Telegram also has over 20k people and is very active, and their community channel which is over 7k now is more active and larger than many other official channels. Their local communities also seem to be growing.
Moreover, their community started ‘Zillacracy’ together with the Zilliqa core team ( see www.zillacracy.com ). It’s a community-run initiative where people from all over the world are now helping with marketing and development on Zilliqa. Since its launch in February 2020 they have been doing a lot and will also run their own non-custodial seed node for staking. This seed node will also allow them to start generating revenue for them to become a self sustaining entity that could potentially scale up to become a decentralized company working in parallel with the Zilliqa core team. Comparing it to all the other smart contract platforms (e.g. Cardano, EOS, Tezos etc.) they don't seem to have started a similar initiative (correct me if I’m wrong though). This suggests in my opinion that these other smart contract platforms do not fully understand how to utilize the ‘power of the community’. This is something you cannot ‘buy with money’ and gives many projects in the space a disadvantage.
Zilliqa also released two social products called SocialPay and Zeeves. SocialPay allows users to earn ZILs while tweeting with a specific hashtag. They have recently used it in partnership with the Singapore Red Cross for a marketing campaign after their initial pilot program. It seems like a very valuable social product with a good use case. I can see a lot of traditional companies entering the space through this product, which they seem to suggest will happen. Tokenizing hashtags with smart contracts to get network effect is a very smart and innovative idea.
Regarding Zeeves, this is a tipping bot for Telegram. They already have 1000s of signups and they plan to keep upgrading it for more and more people to use it (e.g. they recently have added a quiz features). They also use it during AMAs to reward people in real-time. It’s a very smart approach to grow their communities and get familiar with ZIL. I can see this becoming very big on Telegram. This tool suggests, again, that the Zilliqa team has a deeper understanding of what the crypto space and community needs and is good at finding the right innovative tools to grow and scale.
To be honest, I haven’t covered everything (i’m also reaching the character limited haha). So many updates happening lately that it's hard to keep up, such as the International Monetary Fund mentioning Zilliqa in their report, custodial and non-custodial Staking, Binance Margin, Futures, Widget, entering the Indian market, and more. The Head of Marketing Colin Miles has also released this as an overview of what is coming next. And last but not least, Vitalik Buterin has been mentioning Zilliqa lately acknowledging Zilliqa and mentioning that both projects have a lot of room to grow. There is much more info of course and a good part of it has been served to you on a silver platter. I invite you to continue researching by yourself :-) And if you have any comments or questions please post here!
What the whales are doing with STA, spoiler alert, it's pretty damn bullish
So I've seen the rise, fall, and now stabilization of STA and decided to do some research. But why do I want to do research on a shitcoin? Because my hope is, it's not a shitcoin. What you are doing with statera is buying a "stake" in SNX, Link, BTC, ETH, and STA through an index fund (balancer pool), if BTC moons then the index fund buys more SNX, Link, ETH, BTC, and STA, if STA moons the pool buys more SNX, Link, BTC, and ETH. If Link, ETH, SNX, and BTC all go up then the pool buys more STA forcing STA's price to go up. It's basically a way to gain exposure to all 5 assets simultaneously while balancing your risk. The interesting part is that STA is deflationary, it destroys itself with each transaction (we've already seen supply dwindle by 7 million STA), this reduces supply, increasing demand, increasing price. It's basically a leveraged index fund on BTC, ETH, Link, and SNX all projects I invest directly in and support. If we have a bull cycle STA will moon. (Disclaimer, there is no free lunch, if there is an error in the code or a back door, or if something goes awry with the balancer, this could go down in flames, they are currently auditing the code with a third party which will give us more assurance. It is also decentralized so there is less counter-party risk, as long as that decentralization holds, which the audit will help us understand. Other than a black swan catastrophic failure, this is an incredible investment on paper, if you think the other 4 assets will go up, because them going up forces the buying of STA by the balancer pool, which is basically an altruistic whale that wants STA to be less volatile while trending up in price). There is a term in investing called accumulation phase, for us in crypto when someone like Grayscale buys 150% of all bitcoins being mined, or buys tens of millions in crypto every week, do you think they just put a market order into Coinbase Pro? No. They could do an Over The Counter (OTC) trade with an individual, they agree on a price, and a large purchase is made individual to individual (but I doubt they continue to find a bunch of bitcoin whales to give them the thousands of bitcoins they want). So what do you do? If you buy thousands of bitcoin the price will unnaturally go up as people spot your demand and inflate the order books to take your money then the price crashes once you, the biggest buyer, is out of the market, leaving you with a heavy bag. So you enter an accumulation phase, a simplified example: Your target to buy a stock is $5-$10, you are happy buying at any price in that range. The price is at $8, so you put in a few orders and a few more 10 shares at a time so no one sees you as a whale, the prices starts going up, you have now purchased 1,000 shares and the price is $9.99, so you sell 800 shares all in one big order, everyone freaks out seeing this "huge" (huge in our example) order from presumably a whale who is spooked by market sentiment, price crashes to $6. You start buying again $20 at a time, and build your stack back up to 1,500 shares, the price has hit $8.99 and just to throw the market off (doing it again at $9.99 would be too obvious) you sell 1,000 shares. Rinse repeat. You have now bought 500 shares at the price you want where as, if you had bought 500 shares all at once, the price would have sky rocketed to $20 and then fell back to earth (say back down to $10) and you'd be holding shares at a 100% premium. This is highly simplified but hopefully gives you an idea of how accumulation works and maybe even makes you wonder if bitcoin is not going through this exact thing as we speak. But on to Statera, so I decided to look at the whales in this space, you can check my work,go to the contract addressthen click on "holders" the list is constantly changing, addresses 10 and 11 leapfrogged address 9 and are now 9 and 10 respectively. I put the first four digits of the address so you can specifically check my work. I would say what I found is highly bullish (but make your own conjectures). First off the spread of addresses is HEALTHY, the biggest whales (top 50 address) all hold .5-2% of the supply each. The biggest holder (the developer) holds 4.6% of supply (the best I can tell you can mask your holdings and shuffle them all over so it's nearly impossible to really tell). Also there are only 1,700 people in the coin, we are still VERY early, this is more than a 50% increase in a week. Lastly the balancer pool (which balances the index) has over $350,000 in it up over 50% in the last week, this is arguably the most important metric, the liquidity here is what allows the balancing to happen and the STA price to be forced to go up, this is a huge amount of liquidity for something only held by 1,700 people, it's actually quadruple the liquidity of the trading pairs on Uniswap! Long story short the balancer pool is armed and ready to balance and support STA. So there is no one holding 90% of supply (that we can tell) who is waiting to dump on you, we're in the early stages and seeing a lot of health in the token, and there is a lot of liquidity here. Now, the top 13 addresses: 1 (0x43) Dev Account started with all 101,000,000 then started pushing out to exchanges and balancer pool, sent 50 million right off the bat to 0x0e (balancer pool or uniswap) fun account to look at you kind of get to see the genesis of the coin. 2 (0x28) "Bought" a ton to start, hodler (weirdly sold a VERY small amount, around 10,000 of his over two million). I put bought in quotes because this account got it's STA from 0x6a, which is also where account 11 got it's from, 0x6a seems like an exchange account that people are buying from, but I would love for someone to confirm what 06xa is, balancer pool related, exchange related, developer related?) 3 (0x92) Hodler straight up, not a move, though the dump on this account came from another account that is now zero, could be a similar situation to address 6 where it is a "cold storage" for someone trading with other accounts 4 (0x13) PLAYING the exact game I showed above sell buy sell buy repeat (buys are bigger than sells) 5 (0xC2) Bought big, trickle sold, bought big, currently trickle selling (possibly PLAYING the game) 6 (0xD7) interesting one, bought 1.9 million STA for 1,354 digital Rand (What a deal!) then transferred all their STA from one account (0x67 currently no STA) to this account, now semi holding, small sells, sold 40,000 in all of 1.7 million. Not sure why he transferred could be intentional to mask moves, could be moving to hardware wallet, could be moving to exchange, unknown. Seems like a HODLER. 7 (0x7c) PLAYING THE EXACT GAME... 8 (0x0e) Contract (looks like balancer pool related) 9 (0x59) Contract (looks like balancer pool related) 10 (0xd8) PLAYING THE GAME 11 (0xb0) got a large dump from 0xc69 and is now holding (which now has 0) and if you keep tracing it back and back you get to the first account in the chain (0x6a, which also funded 0x28, which now has 615,000, and is either interacting with the balancer or trading, again please someone explain I can't), this could be a whale splitting his buckets or two large individuals who did an OTC trade, but more likely it's one person who is doing a lot of trading and accumulating. I would put PLAYING THE GAME, as the other accounts it came from are accumulating, but not completely clear. It seems like she may be using this as a "cold address" to hodl and then trading with her other account 12 (0x18db) Hodl. Accumulated hard from Uniswap buy buy buy 15, 12, and 6 days ago, hasn't moved since. 13 (0x6c) PLAYING THE GAME So are we in a whale accumulation phase? Hard to tell, the top 10 addresses (minus 3 for the two contracts and dev) are definitely acting bullish even if they are not accumulating, it seems like 6 of the 10 are in some form of an accumulation phase and the other 4 are hodling. I do see STA as a long term hold, again it's an index fund on four of the biggest names in crypto. This will be a popular investment (if it remains legit, so far it has been highly legit). That being said, this is just 10 addresses, I don't want to spend my whole Saturday on this, if anyone wants to look at the top 50 addresses, please do! I will read and upvote your post. It was reassuring to me at least to see the top addresses are acting like bullish investors. Is the whole STA trader base in accumulation or is this an anomaly? I don't know, you can be the judge or dig deeper yourself. The best part of this sideways action and the buying and selling of STA in the 4-6 cent range is that every trade burns coin, deflating supply, and making any later bull run even bigger. That's the genius of the coin, with every trade, with everyday, it inherently becomes more valuable (unless Link, ETH, SNX, and BTC all shit the bed, then game over, but that would be game over no matter what game you're playing). DYOR, don't put in more than you are willing to lose, but as for me, I'm going to be following what the whales are doing and slowly accumulating in this band (4-6 cents seems like a strong buy point, 2-3 cents is an amazing buy point but it rarely dips down that low).
Hey everyone! Welcome to Weekly Update 127. This week we’ll be going over Stakenet and DEX’s slightly more generally. You bet that we’ll also be covering the usual GitHub development of Raiden and an exciting new release! Let’s dig in. Raiden x Stakenet Stakenet project is combining Lightning Network and Masternodes into a new blockchain for running decentralized applications. One of the first decentralized applications they are building is the Stakenet decentralized exchange. Currently, the decentralized exchange supports Bitcoin, Litecoin and Stakenet via Lightning Network integration. In the future they are planning to expand the list of the supported crypto currencies with the Ethereum ERC-20 standard. Technology of choice which they believe will best support them in this integration is the Raiden Network. The Stakenet team, after dedicating some time into researching Raiden, are getting ready for the first testing of Raiden. For the first tests users will have to run a Raiden node separately and will have to use 2 different wallets (stakenet and ethereum wallet). However, after the initial setup user experience should be the same for trading as it is currently. We will be following the progress of testing closely and cover it’s progress. It will be interesting to see Raiden enabling the DEX, especially cross-chain. Development progress The development goals remain the same as they were during the previous several weeks. The first goal is to prepare the demo for the Reddit Scaling Bake-Off while the second one is to reach the Alderaan milestone in the Raiden light client. In the Raiden light client the Juggernaut testnet release was introduced. In this release the SDK has become much more robust. It includes many small bug fixes as well as some major reworks. Furthermore, it also introduces the completed withdraw functionality. As the repository where the development team is preparing the demo for the Reddit Scaling Bake-Off is not yet open sourced we can only look at the changes made in the old repositories. It seems that the Raiden team is preparing a couple of bigger features one of which is handling something called “claims”. It will be interesting to see what exactly are claims and how they are integrated in the Raiden protocol. Conclusion To wrap up this Weekly Update, it’s exciting to cover DEX’s and Raiden Network being utilized for the name of decentralization. Don’t forget to check out the new light client release. If you’re interested to learn more about this update, DEX’s or Raiden Network in general then please leave a comment and we’ll get back to you. Cheers!
I have been watching you for a while, you know. Wasn't sure whether to invest, but now I know that I must? (FUSION. Could have also prevented the Statera balancer hack?)
So this project caught my (and probably many other people's) attention at least once last year. Especially after the foundation had some of its funds stolen which saw the token's price tank massively. I kind of forgot about it until seeing it being veeeery low-key mentioned on TG again recently and it appears to have 5xed over the last few months, essentially returning back to its old price level, while still being relatively low cap. Also sitting nicely next to LTO (another actually professional, albeit slow-burning, project) on https://coinstats.network/, rising rapidly throughout the ranks over the last weeks. (The top three performers at the time of this post are VeChain, LTO, and FSN, as you can see at the right top.)
Anyway... I did some digging, and frankly, I feel like simply quoting Dejun Qian (leader of Fusion and also founder of BitSE, which later enabled the rise of VeChain), because he does an overall decent enough job at explaining the general gist behind Fusion -- a blockchain designed in particular with decentralized finance (DEFI) in mind:
"Fusion is targeting to be the infrastructure of digital finance. Only interoperability is not enough. TL+DCRM+QS solves finance problem entirely: exchange (QS) value across different systems (DCRM) and different time (TL). Our overall goal is to abstract away the complexity of defi or even being involved in defi, and offer just the benefits."
DCRM refers to their Decentralized Control Rights Management layer, which has been developed together with 4 world-leading cryptographers; allowing for decentralized custody of assets in finance (= e.g. a decentralized (custodian) bank?)
TL refers to Time-Locks; that is the time value extraction out of any type of asset by locking and borrowing their use; with Fusion in general allowing for the exchange of time value across different chains
Interoperability generally refers to the solving of the data silo problem (separated blockchains), with silos generally referring to isolated sets of data (e.g. different doctor offices each being a silo that cannot interact) and more... (Their biggest competitor today seems to be Wanchain, which, for example, doesn't allow truly decentralized private key generation the way Fusion's DCRM does. Amongst other things. I'm not 100% sure of both projects' pros and cons, however.)
...most of which (Time-Lock, DCRM and Quantum Swap) are patented. Although it should also be mentioned how the Telegram frequently questions the ability to enforce these patents. And depending on your personal outlook in regards to patents in the cryptospace, you could generally consider this a big negative point. Or, if you only care about money, a very positive one. With the latter likely aligning more with this sub's interests.
Anyway... Time-locking simply refers to you locking in any type of asset (real or digital) and then being able to lend it for some set amount of time (time-slice) without giving up ownership. This could have been useful in preventing, for example, the Statera Balancer hack, since you merely give up access to your asset for a certain amount of time while still retaining ownership yourself. E.g. you could have granted the Balancer 3 months of access to your assets. Whereas, had your assets been stolen by a bad actor within this time-frame as it happend in the Statera/Balancer case, you would still have received all of your assets back after these 3 months passed. No assets would have been lost on your end. So this mechanism, patented by Fusion, adds additional security. (Their Ticketed Proof of Stake (TPoS) mechanism works the same way -- You never risk actually losing your tokens forever. https://www.youtube.com/watch?v=FX57OwpNNMA )(Also: You are also free to correct me in case this doesn't actually work with Balancer's mechanics.)
In general, the borrowing of the (front end; now to some point in the future) time-slice finds application in finance what bonds, futures, options, etc is concerned, again making fusion a great choice for DEFI. To again cite Qian:
"In today’s financial markets, institutions build financial instruments to extract time value from assets to meet market needs, such as bond, bank acceptance, futures, factorings… However, it is extremely expensive and inefficient. It takes days or even weeks to issue those financial instruments. Fusion innovated a way to extract time value from assets instantly, efficiently, costless in a fundamental and standard way. Anyone could build financial instruments by your own on fusion based on your assets. We call it “Time Lock” or “Time Slice”".
(If you're into this stuff, it's easy to just search for words such as "factoring" or "bank draft" or "clearing house" in the official Telegram channel https://t.me/FUSIONFoundation . Also in relationship to upcoming and borrowed FSN tokens, which can be combined to form whole FSN tokens.)
Another more concrete use-case would be, for example, the granting of access to a house's or car's digital lock without giving up direct ownership of these assets for a certain amount of time, after which said access will be returned to its owner. Additionally, it's also possible to resell parts of this access in case you no longer have any use for it. (E.g. if you license a software for 6 months, but suddenly decide to no longer have any use for it after a mere 2 months, you can resell the remaining 4 months that are left.)
Also worthy of mention might be some of the bigger Fusion-related DEFI (hype!) projects being built on the Fusion blockchain:
WeDefi, which aims to be, or allows for users to act as, a kind of decentralized bank; stream-lining lending/borrowing and other kinds of DEFI; will come as APP to the IOS and Play-Store for the Smartphone soon.
SMPCwallet. Will include DCRM dapps such as a multichain DEX, a multicustodial wallet, etc (fixing problems related to key exposure mentioned by Vitalik in an AMA linked later in this post)
Realio and YAD Capital issuing digitized assets to be tokenized on the FSN blockchain. Meaning securities, etc. Currently they're trying to raise a $5mm tokenized fund. (Also worth mentioning here is that SolidX, who have experience and SEC connections working on a Bitcoin ETF, are part of Fusion's DCRM Alliance)
And more. https://www.fusion.org/partnerships hovering over the links gives some input. xDLT is built on fusion, for instance, offering an interoperable form of etherscan. (To my understanding...)
And if you want to try out Fusion, you can sign up at WeDefi and play around with borrowed tokens and even earn full tokens by doing so. Take note, however, that only full tokens may be staked, should you plan to do so. ( https://www.wedefi.com/faq )
As for the FSN token value, it would appreciate simply by virtue of gas fees, staking, DCRM which can be licensed in exchange for 800k FSN, potential applications of time-locking relative to assets and the Fusion token (looking at safebet, for instance), etc... as Fusion is adopted. The staking ROI is currently at 23%. (I can't really make a prediction about the token's value development here, since the entire system and the potential applications really exceed my knowledge. And, being crypto, odds are that putting a price on it might be impossible for just about anyone.)
The best way of storing FSN is whallet, which can be used in conjunction with your Ledger's Ethereum app. (MyFusionWallet was experiencing synchronization problems the other day, but seems to be working perfectly fine again as of the time of this post.)
A relatively big negative point frequently mentioned by the community is the lack of marketing and the team losing its first-mover advantage, which is a concern the Fusion team has recently tried to address. As REN, for instance, which allows for but a portion of Fusion's use case such as an allegedly inferior version of DCRM and dark pools/clearing houses (and according to the Fusion community of course worse), has recently gone on a small bullrun of its own. Much to the chagrin of disillusioned Fusion bagholders. And I've personally also seen TrustSwap make an appearance, which appears to aim for the creation of a crosschain version of UniSwap much akin to AnySwap. (I'm not 100% sure about this, however.)
If you have any personal opinions, you are free to share them. Maybe you consider it obsolete in the future, especially if we do end up in a "one chain takes all" scenario? Alternatively you could be holding the belief that it can moon simply due to the #defi hype? Perhaps there's not enough marketing on the team's part? Or is FSN really under the radar, being ignored (and thus massively undervalued) for the time being only because the features offered by FSN are not yet fully appreciated in the still fledgling DEFI space, with ETH simply not being suitable for DEFI, and FSN suddenly making an appearance in the top 35 without anyone having noticed? Etc? Any disgruntled bagholders here who want to vent or add something I forgot? Now's your chance.
P.S.: All this is probably also a relatively superficial explaination that doesn't capture the project's value in a way people like Qian could explain it, especially what the use of time-slices (both front and back, and their combination), the long-term renting and valuation of front-slices, and the number of financial applications, is concerned... but I hope it serves as a good general overview, also what references to other DEFI projects is concerned. And it has taken off a bit recently, like many projects in this mini-bull run. So some people may no longer consider it low cap. But I'm still gonna post it so it doesn't go to waste. Lol. At the very least it might serve as general overview. That and the sub rules state "cryptos out of the top 100.")
Also disclaimer: I am holding a decently sized bag myself. (And I really hoped it wouldn't cross 70 cent so "soon," all things considered...)
So I've seen the rise, fall, and now stabilization of STA and decided to do some research. But why do I want to do research on a shitcoin? Because my hope is, it's not a shitcoin. What you are doing with statera is buying a "stake" in SNX, Link, BTC, ETH, and STA through an index fund (balancer pool), if BTC moons then the index fund buys more SNX, Link, ETH, BTC, and STA, if STA moons the pool buys more SNX, Link, BTC, and ETH. If Link, ETH, SNX, and BTC all go up then the pool buys more STA forcing STA's price to go up. It's basically a way to gain exposure to all 5 assets simultaneously while balancing your risk. The interesting part is that STA is deflationary, it destroys itself with each transaction (we've already seen supply dwindle by 7 million STA), this reduces supply, increasing demand, increasing price. It's basically a leveraged index fund on BTC, ETH, Link, and SNX all projects I invest directly in and support. If we have a bull cycle STA will moon. (Disclaimer, there is no free lunch, if there is an error in the code or a back door, or if something goes awry with the balancer, this could go down in flames, they are currently auditing the code with a third party which will give us more assurance. It is also decentralized so there is less counter-party risk, as long as that decentralization holds, which the audit will help us understand. Other than a black swan catastrophic failure, this is an incredible investment on paper, if you think the other 4 assets will go up, because them going up forces the buying of STA by the balancer pool, which is basically an altruistic whale that wants STA to be less volatile while trending up in price). There is a term in investing called accumulation phase, for us in crypto when someone like Grayscale buys 150% of all bitcoins being mined, or buys tens of millions in crypto every week, do you think they just put a market order into Coinbase Pro? No. They could do an Over The Counter (OTC) trade with an individual, they agree on a price, and a large purchase is made individual to individual (but I doubt they continue to find a bunch of bitcoin whales to give them the thousands of bitcoins they want). So what do you do? If you buy thousands of bitcoin the price will unnaturally go up as people spot your demand and inflate the order books to take your money then the price crashes once you, the biggest buyer, is out of the market, leaving you with a heavy bag. So you enter an accumulation phase, a simplified example: Your target to buy a stock is $5-$10, you are happy buying at any price in that range. The price is at $8, so you put in a few orders and a few more 10 shares at a time so no one sees you as a whale, the prices starts going up, you have now purchased 1,000 shares and the price is $9.99, so you sell 800 shares all in one big order, everyone freaks out seeing this "huge" (huge in our example) order from presumably a whale who is spooked by market sentiment, price crashes to $6. You start buying again $20 at a time, and build your stack back up to 1,500 shares, the price has hit $8.99 and just to throw the market off (doing it again at $9.99 would be too obvious) you sell 1,000 shares. Rinse repeat. You have now bought 500 shares at the price you want where as, if you had bought 500 shares all at once, the price would have sky rocketed to $20 and then fell back to earth (say back down to $10) and you'd be holding shares at a 100% premium. This is highly simplified but hopefully gives you an idea of how accumulation works and maybe even makes you wonder if bitcoin is not going through this exact thing as we speak. But on to Statera, so I decided to look at the whales in this space, you can check my work, go to the contract address then click on "holders" the list is constantly changing, addresses 10 and 11 leapfrogged address 9 and are now 9 and 10 respectively. I put the first four digits of the address so you can specifically check my work. I would say what I found is highly bullish (but make your own conjectures). First off the spread of addresses is HEALTHY, the biggest whales (top 50 address) all hold .5-2% of the supply each. The biggest holder (the developer) holds 4.6% of supply (the best I can tell you can mask your holdings and shuffle them all over so it's nearly impossible to really tell). So there is no one holding 90% of supply (that we can tell) who is waiting to dump on you. Top 13 addresses: 1 (0x43) Dev Account started with all 101,000,000 then started pushing out to exchanges and balancer pool, sent 50 million right off the bat to 0x0e (balancer pool or uniswap) fun account to look at you kind of get to see the genesis of the coin. 2 (0x28) "Bought" a ton to start, hodler (weirdly sold a VERY small amount, around 10,000 of his over two million). I put bought in quotes because this account got it's STA from 0x6a, which is also where account 11 got it's from, 0x6a seems like an exchange account that people are buying from, but I would love for someone to confirm what 06xa is, balancer pool related, exchange related, developer related?) 3 (0x92) Hodler straight up, not a move 4 (0x13) PLAYING the exact game I showed above sell buy sell buy repeat (buys are bigger than sells) 5 (0xC2) Bought big, trickle sold, bought big, currently trickle selling (possibly PLAYING the game) 6 (0xD7) interesting one, bought 1.9 million STA for 1,354 digital Rand (What a deal!) then transferred all their STA from one account (0x67 currently no STA) to this account, now semi holding, small sells, sold 40,000 in all of 1.7 million. Not sure why he transferred could be intentional to mask moves, could be moving to hardware wallet, could be moving to exchange, unknown. Seems like a HODLER. 7 (0x7c) PLAYING THE EXAT GAME... 8 (0x0e) Contract (looks like balancer pool related) 9 (0x59) Contract (looks like balancer pool related) 10 (0xd8) PLAYING THE GAME 11 (0xb0) got a large dump from 0xc69 and is now holding (which now has 0) and if you keep tracing it back and back you get to the first account in the chain (0x6a, which also funded 0x28, which now has 615,000, and is either interacting with the balancer or trading, again please someone explain I can't), this could be a whale splitting his buckets or two large individuals who did an OTC trade, but more likely it's one person who is doing a lot of trading and accumulating. I would put PLAYING THE GAME, as the other accounts it came from are accumulating, but not completely clear. It seems like she may be using this as a "cold address" to hodl and then trading with her other account 12 (0x18db) Hodl. Accumulated hard from Uniswap buy buy buy 15, 12, and 6 days ago, hasn't moved since. 13 (0x6c) PLAYING THE GAME So are we in a whale accumulation phase? Hard to tell, the top 10 addresses (minus 3 for the two contracts and dev) are definitely acting bullish even if they are not accumulating, it seems like 6 of the 10 are in some form of an accumulation phase and the other 4 are hodling. I do see STA as a long term hold, again it's an index fund on four of the biggest names in crypto. This will be a popular investment (if it remains legit, so far it has been highly legit). That being said, this is just 10 addresses, I don't want to spend my whole Saturday on this, if anyone wants to look at the top 50 addresses, please do! I will read and upvote your post. It was reassuring to me at least to see the top addresses are acting like bullish investors. Is the whole STA trader base in accumulation or is this an anomaly? I don't know, you can be the judge or dig deeper yourself. The best part of this sideways action and the buying and selling of STA in the 4-6 cent range is that every trade burns coin, deflating supply, and making any later bull run even bigger. That's the genius of the coin, with every trade, with everyday, it inherently becomes more valuable (unless Link, ETH, SNX, and BTC all shit the bed, then game over, but that would be game over no matter what game you're playing). DYOR, don't put in more than you are willing to lose, but as for me, I'm going to be following what the whales are doing and slowly accumulating in this band (4-6 cents seems like a strong buy point, 2-3 cents is an amazing buy point but it rarely dips down that low).
I have an opinion on Nano and I'm going to spend up to $25,000 to test it. I'll post the whole thing here if anyone is interested.
First, a VERY brief crypto background of me. I've been a bitcoin person for about a decade now. I have a solar bitcoin mining operation and a fruit and veggie farm that is, oddly, integrated with my bitcoin mining operation. I have been trading crypto almost since the beginning. I write trading software for crypto. And I'm going to start a logistics software company that piggybacks off of the bitcoin blockchain. I started seriously acquiring Nano, recently, under $0.80 as a highly speculative bet. I have been following Nano for a couple years now. I think the idea is very clever. Fast and free does kind of seem like a dream. But I don't understand the psychology or the economics behind a currency that is peer-to-peer and doesn't require mining. Maybe it'll work...maybe not...I just don't know. If mining turns out to be the problem then I think that bitcoin will just fork to a non-mining version. Even if Nano is faster, better, more clever, etc...it wasn't the first. Bitcoin was. Satoshi did all the heavy lifting. Nano, while SUPER clever, is just a derivative copy of what Satoshi figured out. The main difference is the lack of mining and the DAG. Anyhow, you wanna know how I'm gonna spend $25k on Nano, right? Remember how I said I own a farm? Well, my farm grows SUPER fancy produce for people with too much disposable income. We're based in Southern California. They order it from us, we pick it that day from our SUPER FANCY, state-of-the-art greenhouses out in the middle of the desert and we deliver it to your door about 8 hours later. Most people can't afford our produce because it costs a lot to grow, it's organic, we grow in these crazy greenhouses that cost us a fortune to build. Our stuff is perfect. Anyhow, I want to test home delivery using FedEx so that I can ship anywhere in the continental US instead of our drivers delivering to Los Angeles, Orange County and San Diego. So, since I am about to test home delivery, I thought that I could also spend some of my recent earnings on the trade I just made this evening of Nano. Ok, I know you had to read a lot to get here. And I'm sorry for that. But, here is what I want to know: IF I TELL THE NANO COMMUNITY ABOUT MY BUSINESS, HOW MANY ACTUAL HOLDERS OF NANO WILL BUY MY FRUITS AND VEGGIES...USING NANO? ARE THERE REALLY ENOUGH HOLDERS OF NANO TO SUPPORT SOME PART OF A BUSINESS? IS NANO REALLY THAT GREAT? IS IT REALLY EASY TO USE LIKE THEY SAY? IF I OFFER YOU A HIGHER QUALITY VERSION OF SOMETHING YOU ALREADY PURCHASE OFTEN, WILL YOU ACTUALLY USE YOUR NANO TO BUY IT? OR...IS EVERYONE JUST TRADING NANO AND HOPING TO GET RICH CUZ THEY MISSED BTC WHEN IT WAS $1? Also, you should be asking yourself, by now, how is this guy gonna spend $25k? Here's how: this produce costs me a lot to grow because it is grown in glass clean rooms in the middle of the desert, with a costly off-grid solar array and giant battery banks; we only sell to high end restaurants and people who are kinda rich; our tomatoes are $12 per pound. Our strawberries are $12 per pound. Our cilantro is $4 per head, Romaine lettuce is $4....you get the idea. It's expensive. Anyhow, I'm going to create a totally separate site for Nano ONLY customers. I'll pay the shipping fees for orders. And I'll sell the produce at the same price as a regular grocery store, instead of our extremely high prices. We grow about 30 different things, the most common veggies you would buy at your local grocery store in the US, plus about 7 different tomatoes and 2 types of fancy strawberries. Ok, now you think that I am just trying to use this subreddit to trick people to going to my site and then tricking you into buying stuff. I'm not. I just made a good amount from Nano nearly doubling on a bet I recently made and cashed in. I'll give all the Nano I make from this test to whomever impresses me the most on this subreddit. I'll make the whole thing public. You can watch the wallet publicly. See if anyone is buying stuff. I kinda think that very few people are gonna use their Nano to buy something that a real currency should be used for: fruit and veggies. My fruit and veggies are way too expensive for the average family so I am going to subsidize this test (the test is to see if I can get $10-20k in Nano sales by just telling the Nano community on Reddit). I know it's not the best test, I am kinda giving my produce away at cost, I'll have to pay the FedEx overnight shipping costs myself....AND THEN I'M GONNA GIVE SOME INTERNET PERSON ALL THE PROCEEDS INSTEAD OF BUYING A JSG BOGGS PIECE OF ART (LOOK HIM UP, CRYPTO NERDS MIGHT DIG IT). But I just made a bunch of money on FUCKING Nano of all things! I'm gonna give back up to $25k to test something. I test stuff all the time with crypto, by the way. You should read my posts over the last few years if you're bored one day. Would anyone be interested in even following this? Do other people think Nano has a use case? Anyone got a better idea for my $25k (other than me giving it to you cuz you're lazy)? Oh, for the record: yeah...bitcoin...duh. Everything else is just a copy. No offense intended.
I plan on destroying this laptop after posting this and will soon be untraceable. I am reaching out because something is not right. I feel as if something just is not lining up right in the universe. I feel like I am out of place. I come to post because I am not sure how much longer I have. I was taking the trash out last week and I think I saw something I should not have. It was a full moon that night and I was doing my regular chores. Feed the dogs, clean the dishes, take the trash out. Easy stuff like any other night. When I got to the dumpster I saw a cassette player on the ground looking like it was to be thrown out. I thought to myself it was just trash but something caught my eye. There was a piece of tape on it with a sharpie written across it. It stated "LISTEN URGENT" so I put it in my pocket and took it home. If I knew what was on that tape I would have not brought it home that night. I didn't have a pair of headphones to listen to it with or at least didn't care to look for one at the time. I had put the tape down on my desk and went to play some video games without thinking much of it at the time. You see I didn't have much going for me. My mother was a single mom and I was the man of the house. I liked to play video games because that is what made me happy. It was getting late so I turned off my monitor and went to bed. I woke up the next morning thinking about the tape because I had a dream about it the night before. The dream consists of me going to the trash and finding the cassette tape then someone getting out of their car when I was walking home pushing me down and taking the tape from me. It was a man with a black overcoat but couldn't see much of his face since it was dark out. And as soon as he took it I woke up. I thought to myself that having a dream of it already had to mean something so I found some headphones and plugged them into the aux input and pressed play. "What did you see that night" A man asked "I was super drunk and all I remember was seeing some guy beat the shit out of some other guy outside the bar." A women said "Where did this take place? The man asked "In the alley besides the bar.... Can I please go now?" The women proclaimed. "No, not yet we have some more questions for you..." The man said "What was that?" The man asked You could hear a crash or something and the tape cut out. What the fuck was I listening to? An interrogation with the police? All I know is there is more on the tape and I definitely shouldn't be listening to this. I clicked skip and play again and it started back up. "Where were we... Sorry about the inconvenience miss." The man smirked "Who are you guys anyways? The cops?" The women asked. "Ahaha very funny... she thinks were the feds..." The man talking to his partner. "You guys aren't the police???" "Then who are you guys?" The women starting to panic "We are the guys they call when shit gets bad." The man said "I think we are finished here... just state your name and age and your good to go." "OK... Carly Johnson, 23" Tape Ends Who the fuck were they? Who is this girl Carly... I thought to myself what this tape was doing with me. I looked up this girl's name and I didn't believe my eyes. Here I am looking at her obituary. She died weeks ago. Cause of death: Suicide. Where do I begin. I just heard a tape of seems to be the police interrogating Carly and she all of sudden kills herself what the actual fuck. I guess these are the guys they call when shit gets bad. It says she jumped over a bridge in the town over from me at midnight. Why would a girl just do this out of nowhere and sounded decently happy on the tape. But then I saw one last thing on her obituary... it said "There was no body found. She had left a note." So she went missing huh and they ruled it off as a suicide. I went back to the tape and to my surprise it had corrupted and I couldn't play anything back. Just great. I wanted to know who these guys were? Why did they want to talk to Carly? Why did Carly all of sudden disappear? This was all so hard to wrap my head around. None of this should be my business but somehow I feel like it is. I never even knew Carly but some way I feel like I did. Weird right. Maybe you can tell me if I'm nuts or if it's humane to feel this way. I had another dream last night and to my surprise it had to do with the tape again. But this time it was very strange. I was on the bridge where Carly apparently did what she did and there was something on the ground in the middle of the bridge and I couldn't really make out what it was so I walked over and it was the same tape except the writing on it this time was "They did this." I then rubbed my eyes and woke up in a ton of sweat. So is this supposed to be a sign or something? Like what are these nightmares supposed to mean? I still am wondering who the men were that were talking with Carly. I started looking up cases of bar fights or anything to do with fights relevant to a bar. To my surprise I found the case. Case # 06-123 Bar stabbing leaving man dead. Looks like it was big in the local news. I do not watch the news much but now I know what they were talking to Carly about. This was much bigger than I thought. This is still an open investigation. I was skimming over the reports and one of the officers said that a private sector of the FBI would be taking over the case and no more was to be discussed publicly until the case is closed. A private sector of the FBI is now involved what the fuck. In this tiny ass town the FBI is getting involved. This is all so much to take in. Seems like there is more to it though. The FBI got involved with some little stabbing at a bar. The news article said if there is any information to help the case to contact the link that was shared underneath the article. I clicked the link and it brought me to some government website to report tips or some bullshit. I started to read and it said "If there is any information on this case please contact this phone number [DISCLOSED INFORMATION]. I then read it said if anyone knew of a missing cassette tape that it is crucial to the investigation and no more information was shared after that. So wonderful, I now know that I am holding a crucial part of evidence of a case for the FBI and the contents were corrupted. I don't know what to do at this point... I still am going to be doing my research and I plan on getting rid of this cassette tape. I will be updating this post as soon as more information is shared or I find something. In the meanwhile I need to stay on the low because there could be and will be people looking for me and what I have acquired. Ill post an update in 24 hours. Until then, Goodbye. Update 2 I only got a few hours of sleep last night... thoughts running through my head constantly. I promised an update and here it is. I have been thinking of what to do with this tape. I think the best option would be to get rid of it but I think that would be a felony or something so that options off the list. The second option I have is to give it to them. Yes, I know it sounds crazy absolute delusional you might say. OK let me stop you right there. The plan is to drop it off at a discrete location and call in an anonymous tip. Seems easy right. I hope. I have wiped off all my prints on it and ripped off the tape on the front of it. I am going to go to a gas station about 45 minutes away from here. There should be a payphone and the angle the cameras are at should not see me if I pull my car up to the left of the building. I will wear gloves for prints and wear a hoodie. I should be fine, no evidence that I was there with the tape. I will get back to you after the job is done. Wish me luck. Update 3 So it went exactly like planned. I parked my car where there was no surveillance and got out with my black hoodie and called the number that I saw online. I said "The cassette tape is in the bathroom of the gas station for case # 06-123 and hung up. I got out of there as fast as possible. I am now home and well. I am still curious and looking into Carly. I think I came upon something. It is very unusual. Her mother wrote a Facebook post saying "I know those cops are fucking corrupt... they never even looked into her case!" I thought to myself how weird this is. Her own mother must have known something was up too. No body found, A bridge that no one was on that night. I know no one was on it because there was a detour for maintenance on the bridge that afternoon. The last thing that doesn't add up is someone had to write on that tape stating LISTEN URGENT. If they were police wouldn't that tape be in evidence or something. Correct me if I'm wrong but this shit doesn't just go missing and wind up at my dumpster. I have a feeling that the bridge is one of the places that I will find something leading me to what happened to Carly and why the FBI are involved. I am going to take a drive to that bridge and see if I can find anything. I'll update you when I get back. Update 4 I think I came upon something I wasn't supposed to once again... I found a necklace underneath the bridge. Here is a picture of what I found. necklace You see I don't think the police actually investigated or they would have already found this. Still we aren't even dealing with the local police anymore we are dealing with some special sector of the FBI. I also found one other thing and I feel as if posting a picture would compromise this second tape I found. I have not brought my headphones with me but have a feeling whatever is on this second tape that it will be great. I am very concerned about Carly and what happened to her. Maybe she is on this tape again, maybe it will lead me somewhere. If I post this on reddit I have a feeling the FBI will be notified or something like that. So for precautionary reasons I will not give the name of the bridge or any locations further that could potentially fuck this up. I plan on digging deep and will share it all with you. Why does the FBI want something to do with some girls suicide?? Who were those men on the tape???? Moments ago I just got a call from a blocked caller... I declined the call because I never normally accept blocked caller ids. They left a message. He said "Turn your eyes away from this or else... You have been warned." ENDS CALL I am very frustrated right now because they somehow found my phone number. I thought I took all the precautionary measures. I guess the government is always watching though. My feeling is that I will have to get rid of everything that ties me to this case. I have looked up how to destroy a hard drive and it is as easy as swiping a strong magnet over it. I want to mention to whoever is reading this that if you know who Carly Johnson is and or have any clues on what happened to her please indulge me. Do not share anything with anyone else except my account. You see you may not realize the full extent of this situation but, no need to worry. I will encrypt everything that is sent and no information will get out to the Federal Bureau of Investigation. Should I be scared? Because I am terrified. I need to know these answers because I am so devoted already. I was just warned to stop looking into this. I have no idea how they got my phone number. I believe we are dealing with not just a suicide but, possibly a government cover up or something worse. If anyone has any tips on what I could possibly do that would help please comment, I can take all the help I can get. They will probably see this post and what I have discussed with you all. I am going to upload all my research onto a USB and slide a magnet over my computer's hard drive now. I will reach back with more news after I have found a secure location to proceed with my updates. Until then.... -Colin. Update 5 So I am currently posting this on a burner phone that I recently bought. I have booked a motel room with cash and I will use their wifi with a VPN. I would like to first express that whoever called me yesterday that I will not stop until I get the answers I need. I am sure with whoever has been reading my recent posts that they wouldn’t like me to stop looking either. I will bring justice for Carly and her grieving mother. I know that the government has something to do with this. I have got some feedback saying that the bridge might have another tape possibly. To my surprise there was and I just listened to it. I’ll replay it for you. [Play] “Hello… I don’t have much time to say what I need to say. I recently found something and it needs to be shared with the world. My name is Carly Johnson…” “They are really close right now… I can see their flashlights through the trees. I am under some type of bridge.” “I have recently come upon a file that was on a USB which was sent to my house…. Its title is Project Sight and the public needs to be aware of what I found.” “It has many many documents containing all sorts of stuff including Area 51, The Roswell Incident, and various pictures of these very tall what seems to be creatures. So many classified documents on this file. “I have made a backup of the file and it is located in my g--- [Cuts out] Well shit, we finally know what we are dealing with. They brought out the FBI because it is a national threat which is out there on that USB. What was she about to say… she cut out saying something that started with a g but I have no clue. I am going to need help with this one. Please give me your thoughts on where she may have hid the backup. I have a feeling that they will find it before I do. I need to find that USB before it gets destroyed. I am not staying another night at this motel. I am going to switch it up so it is hard to track my footprints. I will be ok with my funds for now because I transferred what I had left in my savings and converted it into bitcoin. Hopefully I don’t have to explain why I did that. Once I am done packing up here and on the road I will proceed with another update. Update 6 I stopped at a local convenience store near me and got myself some snacks and water for the road. This blue raspberry Slurpee is pretty good right now. I wanted to go to a local library to proceed with my updates but none of them are open because of this whole quarantine thing. I am probably better off in the motels though. I backed up the tape to my USB and set a password on it so no one can access it. I most likely am a current threat to the FBI so I don’t know how long I will have to stay moving. My plan is eventually to bunker down somewhere but until then I need to keep moving. I also have this cheap laptop I brought to access files that I cant on my phone. I was looking more into Carly's assets through some public info websites and such, you can use Whitepages plus to get a lot on someone. You can access background checks and look into someone's past, It is pretty crazy what you can get on someone. I also was looking through her Facebook and found an older post with her dad working on a project car. Looks like one of those storage garages that you can rent. She doesn’t post much. All family related stuff and a couple friends. Guess she kept more to herself. I am curious about when she said it was called Project Sight. Why would they call this file that in specific? Who knows. Do you think it would be a good idea to talk to her mom? Probably not, now that I am thinking of it. The FBI is probably all over her house. Hmm wait a minute, I remember that her mother had a Facebook page. Maybe I’ll send her a message where we could maybe meet up or something in private. She probably would give insight on what Carly said on the tape. I pulled into a parking lot that seems to be pretty empty. I want to try and take a nap and maybe wake up with a new idea or something. Update 7 Fuck me. A cop just woke me up by knocking on my window… “Hello officer, is there a problem?” “I don’t think there has to be one, are you a little tired?” “Yeah, I pulled over in this parking lot to clear my head and take a little nap.” “Gotcha, you got any Identification on you?” “Yes sir, can I grab it out of my glove box?” “Yes, just no sudden movements.” “OK, here is my registration and proof of insurance as well as my I.D.” “Thanks for being so cooperative, let me run your stuff and you’ll be on your way shortly.” He went back to his vehicle and I don’t know what he is going to find. What if the FBI put a warrant out for me or something?! I am probably just super anxious because of this situation. They want to keep everything top secret so they won't involve the police. He just got out and is walking back now. “Here you are *hands back documents*.... You're a little ways from home aren’t you? “Yeah, my Aunt lives out here and I came out to visit her.” “Alrighty, I don’t see a need to cite you or anything so I’ll leave you with a verbal warning so just try to sleep somewhere else next time … OK? “Thank you again… have a good one.” Well that could have gone a lot worse. I looked up the mother's address and it is only an hour from me. I am going to call her by the name Catie from now on. I made a Facebook account with this burner and messaged Catie on messenger saying “I know what happened to your daughter Carly… they faked it.” [SENT] Hopefully she sees this soon and we can chat a little bit and hopefully it helps to find that backup. Update 8 So she read my message a moment ago and responded with “Who are you?” I responded with “Meet me at the Franksville park in 20 minutes, I am here to help not hurt. Please do not bring the police… they covered this up.” I am already parked here where I can see the parking lot but no one will be able to clearly see me staking it out. If the police roll up to the park I will exit through the back. If she comes and she is in a black jeep then I will text her again telling her to go to the bench across from her and wait for me. Hopefully all goes to plan. [20 minutes later] Great, she just pulled up and no cops. I messaged her the message and am waiting for her to do as directed. I talked to her for a while, probably a good half hour. I wrote down what I thought were the most important things she said. “Father was a military officer” “Dropped out of college” “Top of her class” “Public storage garage” “Police searched Carly's house without proper consent” “Computer and journal missing” This was the farthest I have been in this case. Now that whoever is watching just know that I am currently one step ahead of you in every way now. I have developed different plans based on what might happen and every possible outcome and how to counter the bureau. I may not have the man power the FBI does, but I do have more knowledge now. So just know I am coming for you … I will ruin you. I am now taking the cellphone battery out and disposing of it. Until the next update…. Goodbye. -Colin Update 9 A lot happened yesterday, first of all it was mothers day. I was debating if I should go back to my moms house because someone could be posted out front waiting for me to return. I was wrong and the night went well. I left around 9 pm to find this USB. Someone that wants to remain anonymous direct messaged me and said they thought that the storage unit might be where she put the backup. I looked into it. I knew the number which I will not say for my own protection but Catie gave me the number of the storage garage. She said that she never had the key but she helped enough and that wouldn't be a problem for me. I went to the main office of the storage rentals and bought myself one near Carly's garage. This way I can have access to the property without suspicion. One thing that is really beneficial to having a pass code to the main gate now is that I can come whenever I choose. This place is 24 hour service. OK so now that I have developed a plan on how to get in now, I need to pick her lock. It should be pretty easy if there are no cameras and if no one is working. I haven't really scoped anything out for assurances but hopefully it all goes to plan. On a side note I have been contacted again by that number, they sent me a picture of my car ... my actual car ... Shit. OK so they most definitely are watching me but that was from last night so I don't know if they are currently. If I do post this post just know that I am safe and have acquired the USB hopefully. I am going to take bolt cutters and a hammer to see if I can just break the tiny lock to get in. I will update you when I am back. Update 10 OK I am going to choose my next choice of words very carefully. I found what I needed ... what I was looking for, for the last couple of days. I broke into the garage and there was this nice 1976 mustang cobra, what a beautiful car. I turned my phone's flashlight on and looked in the back of the garage. There was this tool box and I looked all through it, but didn't find anything in that. Next, I went to the car and it was open how fortunate ... I looked in the glove box and I found something. It was in this tiny envelope with the envelope saying "Insurance". OK I got what I came for and shut the door to the garage and left. I plugged the USB into my tiny laptop and it came up. First file "Project Sight", I clicked on it and 4 more files came up. 1st "Access point 51 [Classified]", 2nd file "Roswell, New Mexico [Classified]", 3rd file "JPEG File [Classified]. What was on these files I can't really describe. I need a little more time to wrap my head around all this information and figure out what to do with it. The weirdest of them all was the JPEG files, there were at least dozens of pictures that were all super blurry but mostly they all had one similar trait. At least 7 foot tall and a very large round head. They appeared to be a darker gray color and that's about all, The pictures were all in black and white though so that was not helpful. I need to know what to do with this USB. I think I am going to make a back up somewhere and place it somewhere where no one will find it. If these men do come for me I do not want them to win. So I set up some posts that will eventually post automatically within 48 hours of no account activity. I am still posting on a burner phone at the moment. All I ask if I go missing please don't let me end up like Carly. She said that this information needed to be shared with the world. I want to avenge her. The FBI will not get away with this. If these posts get deleted I have set up logs to be saved and they will all be backed up and reposted automatically as well. Nobody can stop that process too. They know what type of car I drive and where I live. They know I have this classified information and will not stop until they get what they want. I don't want to die. I am scared for my own life and safety of my family at this point in time. At this time I am writing this on my phone, I can see a black SUV parked 4 cars to my left in the Walmart parking lot. It may just be my anxiety but there are two men sitting in the front. I may be dead within the next day or taken. Who put that fucking tape at my dumpster in the beginning? Was it them? Did they watch what I did everyday and find my daily routine and match that to when I would take the trash out? Could they have placed the tape at a spot I could visibly see all on purpose, knowing that I would pick it up and listen to it. All for what though? Why me? What is the point of going after a teenage kid? I might just be going crazy because of all this. I would like to express.... Whatever does happen to me, just know if you do find a cassette tape at the dumpster, don't play it. Until next update, -Colin Note - My automatic posts I have set up go off in the next 48 hours of inactivity of the account. I have hid the USB and a GPS coordinate of where it is hidden will go out to someone that I trust very well.
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