61–70 of 359 posts
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I've gone back and forth on this. Current plan is to use Oracalize. http://www.oraclize.it/
I might also suggest pulling from as many exchanges as possible and applying something like an average function to them. Of course you need to make sure that doesn’t cause the contract to be even more vulnerable due to outliers spiking the average.
My latest side-project is an alternative to Tether (the "mystery" in the title). It's similar in that the currency is pegged to the dollar, but it's implemented as a smart contract on the Ethereum block chain, so the reserve (held by the smart contract and not touchable by me) is instantly auditable. https://unum.one The code is open source and can be found here: https://github.com/unumone/unum If anyone wants to hel…
I am flagging you again since this is the second time I see a clickjacking[1] and investors could think that you are pegging your cryptocurrency to fiat currency when indeed is something completely different. [1] https://news.ycombinator.com/item?id=15796016
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There's a big difference between a currency being "pegged" to another currency and being "backed" by another currency. I do agree that it would behoove his project to clearly enumerate that it's experimental and the risks involved. But that's a good comment for him, not a flag. Edit: The article you linked to is incorrect, unless the word "pegged" is different in cryptocurrencies than elsewhere in the world of financ…
What is a Pegged Cryptocurrency? https://themerkle.com/what-is-a-pegged-cryptocurrency/ You can decide to talk about stable coin approaches which is a more precise term.
I mean, even China had a currency peg not too long ago. It was an enforced exchange rate, nothing more. No explicit reserve backing it up.
WARNING: Auto-playing video with possibly loud sound.
But, fortunately, disabling auto-playing in Firefox is actually not that hard. about:config, then set "media.autoplay.enabled" to false. Done.
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The reserve will be in Ethereum (and possibly also in ERC20 tokens like OMG), not USD. You buy Unum using these other cryptocurrencies, and can always sell Unum to buy anything in the reserve, always at the current USD spot price. This of course raises the possibility of the USD value of the reserve falling below the # of issued Unum. In that case, a sale penalty goes into affect, to discourage selling and increasing…
So if Ethereum price goes down, you're insolvent.
Rising complexity of financial instruments? Check. Uncertainty about the capital backing of a booming market? Check. FOMO fever? Check. Where have I seen this before?
The sheer scale of these potential frauds - including the total ambiguity of massive $ raised for ICOs is not only consistent with the shenanigans of the .com - it's much worse. In .com - companies were creating value, and we all assumed people would pay for 'email' - turns out consumers would not - so many businesses failed, and there was a stampede out of equities. All of this coin and ICO fraud, including 'regular…
WARNING: Auto-playing video with possibly loud sound.
Why sites continue to do this is beyond me. But, fortunately, disabling auto-playing in Firefox is actually not that hard. about:config, then set "media.autoplay.enabled" to false. Done.
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I am flagging you again since this is the second time I see a clickjacking[1] and investors could think that you are pegging your cryptocurrency to fiat currency when indeed is something completely different. [1] https://news.ycombinator.com/item?id=15796016
It is pegged to the USD. A "pegged" currency means it's a fixed exchange rate. https://www.investopedia.com/terms/c/currency-peg.asp