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Hackers nab $500k as Enigma is compromised weeks before its ICO

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Re: Hackers nab $500k as Enigma is compromised weeks before its ICO

#121

Post by ransom1538 »

che_shirecat wrote: post #56

How to make money in ethereum, from high to low risk: 1. Dump the leftovers of your bi-weekly software engineering paycheck into buying ETH, BTC, or whichever altcoin is popular this week. It went up 5000% in the past, it's got to keep growing right? 2. Participate in an ICO and stock up on whatever platform token they're hawking. It's more profitable if you get in early due to some presale mechanism (hopefully here…

I think it can all be automated:

1) Have the bot build the currency here: http://build-a-co.in

2) Generate HTML5 pages

3) Submit to twitter (focus on new york area) / make tshirts

Re: Hackers nab $500k as Enigma is compromised weeks before its ICO

#122

Post by ringaroundthetx »

pavel_lishin wrote: post #90
ringaroundthetx wrote: post #76

Earlier quoted context omitted.

> I'm not sure I buy the premise that every service needs its own coin. Surely in most cases it would be better to just use the most widely used, most stable coin? The team cannot finance itself without selling a new token These projects don't use equity and there is nothing that will make the equity more valuable as there. There are lots of things that will make their token be more valuable as it is a new commodity.

One thing I don't understand about ICOs is - what do the companies promise their coins to be worth? That is, if I have a Coin from your brand new endeavour - what can I, hypothetically, exchange it for? Do I get a vote in how your company is run? Can I give it back to you in exchange for a product or service later down the line? Or is it just a geegaw for me to put on a shelf, like a printout of a Patreon receipt?

they are for a product or service, the limited issuances of the token gives them a speculative market based on future demand and future supply.

the team and organization gets funded, the buyers are liquid, nobody makes ridiculous decisions counter to their dreams hoping for "an exit", because everyone already has one.

we don't have consumer or investor protections here yet so sure it is ripe for abuse, so far people are content with that, and we also haven't needed it

Re: Hackers nab $500k as Enigma is compromised weeks before its ICO

#123

Post by KGIII »

richman777 wrote: post #106
arkitaip wrote: post #80

Earlier quoted context omitted.

turning your comment into a 10-week pdf course as we speak, just gonna pick a theme over ath theme forest brb

Need an advisor?

Right? I do have a Ph.D. from MIT, even.

I'd advise them to incorporate their PDF, and perhaps lesson taker's info, into a blockchain.

Re: Hackers nab $500k as Enigma is compromised weeks before its ICO

#124

Post by JohnKacz »

Sorry for the uneducated question here, but I've wondered how those who steal crypto-currency "launder?" their ill-gotten coin. More specifically, how do they not get caught since the blockchain records everything? Take it out really quickly? Move little bits around to obscure ownership in some kind of shell game? Am I just totally off-base with my understanding?

Re: Hackers nab $500k as Enigma is compromised weeks before its ICO

#125

Post by empath75 »

nickbauman wrote: post #42

Cryptocurrency is probably doomed because the makers of cryptocurrencies have a fundamental conceptual disconnect with money: what it is, why it works and what it represents. Money only works when you have a powerful state actor enforcing the legality of the transaction. When you try to escape that, you get at best a parallel system that still goes back to the state for help in keeping functioning or a system prone t…

I'm a cryptocurrency skeptic, but money works if people accept it as a medium of exchange. People are willing to trade goods and services for bitcoin, so it's money.

Now, without a nation-state backing it, it's going to potentially have problems with stability, regulation, etc, but that doesn't mean it's not acting as money now.

Re: Hackers nab $500k as Enigma is compromised weeks before its ICO

#126

Post by trhway »

the_stc wrote: post #108
option wrote: post #65

The ICO concept is fundamentally solid and is more efficient then traditional funding sources. What currently lack is the implementation. Both technological and legal frameworks need lots of work, but I bet it'll happen

Really? I hope we will enter a post-ICO era of fundraising. Tokens simply do not make sense in most cases, nor do new chains. In my startup, we're issuing Token-Shares (Blockchain Bearer Shares) that pay dividends[1]. I think something like this will be the future. Let people actually own and share in the profits of the enterprise. The share prices can still 10x or more, so there is still a benefit to early investors…

first time i can't get whether it is sarcasm or not.

Re: Hackers nab $500k as Enigma is compromised weeks before its ICO

#127

Post by Pfiffer »

JohnKacz wrote: post #124

Sorry for the uneducated question here, but I've wondered how those who steal crypto-currency "launder?" their ill-gotten coin. More specifically, how do they not get caught since the blockchain records everything? Take it out really quickly? Move little bits around to obscure ownership in some kind of shell game? Am I just totally off-base with my understanding?

You're not far off, I think it's usually done through a mixer: https://en.wikipedia.org/wiki/Bitcoin_mixer

Re: Hackers nab $500k as Enigma is compromised weeks before its ICO

#128

Post by tansha_x »

richardknop wrote: post #17

Another ICO, another scam. I am not sure I feel bad for people who are gullible enough to send their hard earned money to these "companies". They have one PDF whitepaper and a generic Wordpress template website with some buzzwords, based in Cayman islands or some other tax haven for money laundering. And expecting to get rich from that.

and just look at the list of ongoing ICOs https://www.coingecko.com/ico Not to mentioned those that have secured investments...

Re: Hackers nab $500k as Enigma is compromised weeks before its ICO

#129

Post by FLUX-YOU »

arkitaip wrote: post #80
che_shirecat wrote: post #56

How to make money in ethereum, from high to low risk: 1. Dump the leftovers of your bi-weekly software engineering paycheck into buying ETH, BTC, or whichever altcoin is popular this week. It went up 5000% in the past, it's got to keep growing right? 2. Participate in an ICO and stock up on whatever platform token they're hawking. It's more profitable if you get in early due to some presale mechanism (hopefully here…

turning your comment into a 10-week pdf course as we speak, just gonna pick a theme over ath theme forest brb

That's great, you'll be running a hedge fund and talking about cryptocurrency in no time

Re: Hackers nab $500k as Enigma is compromised weeks before its ICO

#130

Post by the_stc »

trhway wrote: post #126
the_stc wrote: post #108

Earlier quoted context omitted.

Really? I hope we will enter a post-ICO era of fundraising. Tokens simply do not make sense in most cases, nor do new chains. In my startup, we're issuing Token-Shares (Blockchain Bearer Shares) that pay dividends[1]. I think something like this will be the future. Let people actually own and share in the profits of the enterprise. The share prices can still 10x or more, so there is still a benefit to early investors…

first time i can't get whether it is sarcasm or not.

Absolutely not sarcasm. Why would ICOs giving out tokens with no equity be superior to a tokens that have equity and receive dividends?
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