Coin Bureau Insider

2021-06-05 19:05:30 Hey Guys, I just wanted to quickly bring something to your attention. I am about to do a video on the fastest cryptocurrencies in the space and as part of that research, I have been studying project's TPS claims You need to take these numbers with a pinch… Open / Comment

2021-06-05 13:51:33 Hey Guys,

Just wanted to have a quick chat re privacy coins

As you folks may know, I am a fan of Monero and have covered it on numerous occasions on the channel.

Many people have asked me my view on Zcash given that it is perhaps the biggest challenger to Monero.

Well, I have covered Zcash in the past and I do think it is an impressive piece of kit. However, there were a few things that I did not necessarily like. These include the corporate dev team as well as that elaborate "ceremony" key destruction event.

However, perhaps one of the biggest concerns for me is the opt-in privacy. Basically, users will have to choose whether they would like to send a shielded (private) transaction.

This is in contrast to Monero where *all transactions* are private by default. There is no chance to opt-in.

So, why is this better?

Well, when you send a shielded transaction on Zcash, the transaction is automatically viewed with suspicion. Other users choosing to use transparent transactions and addresses impacts on your privacy as a shielded (hidden) transaction sender.

I think this handy image sums it up best:

https://i.redd.it/y3feevo2ca371.png

Simply, having a part private part private blockchain invites intense scrutiny on the private transactions. With Monero on the other hand, everything is private. You cannot discern between them and hence, cannot discriminate.

Yes, Zcash is more favourable from an exchange listing perspective but if it’s at the expense of privacy, that defeats the purpose. Exchanges that do list ZEC won't be accepting those shielded transactions.

My hope is that one day we will get to stage where there will be much less reliance on centralised exchanges. If we could get to a reality where all trading is done on chain in a decentralised manner - that would be the dream.

And, on this point, a few weeks ago we had the first XMR-BTC atomic swap.

https://twitter.com/coinbureau/status/1398351873330008080

There are also several other cross-chain solutions which could act as a bridge for XMR. Those that come to mind include the likes Thorchain:

https://twitter.com/THORChain/status/1382549265319223298

There have also been tokenized ERC20 XMR solutions such as wrapped Monero etc.

So, XMR could not only be private but decentralised in that there would be no reliance on CEXs.

I will need to come back to the privacy coin question at some point but thought I would just address it quickly now Open / Comment

2021-06-03 18:49:34

Open / Comment

2021-06-03 18:49:28 Time for a new token review!

And the project in question is Livepeer

It is a project that I have been getting quite a few requests to cover.

I have actually looked into Livepeer in the past. That was because I curiously discovered this random new LPT token in my Ethereum wallet. This was of course airdropped to me as well as 2.6 million other Ethereum wallets.

At the time, I thought this was a great way to not only pique people's interest but to create a highly decentralised token ownership model.

However, after digging into it a bit more I thought it looked too similar to Theta - a project that already had a great deal of traction.

So, I did not explore it further.

But, LPT has been gaining a lot of traction recently - no doubt spurred on by a recent Binance listing.

Therefore, it's only fitting that I give it the comprehensive review that it deserves. And that is exactly what I have in done in the video today.

So, I hope you guys enjoy it! Open / Comment

2021-06-03 13:33:37 Hey Guys,

I just wanted to quickly bring something to your attention. I am about to do a video on the fastest cryptocurrencies in the space and as part of that research, I have been studying project's TPS claims

You need to take these numbers with a pinch of salt when analysing different projects.

Firstly, if the project that is touting these claims is still in Testnet, you should make that a truckload of salt. That is because testnets are generally quite centralised and its extremely hard to replicate real world decentralised conditions in it.

So, that's important for you to consider when brand new projects start throwing these numbers around.

However, the more fundamental fact that is that there is a distinct difference between theoretical transactions per second and transaction finality.

Allow me to explain...

Transactions per second is just a metric which can give us an idea of how many transactions can be propagated in a blockchain within a certain period of time.

However, if those transactions take ages to fully confirm and reach "finality" stage, then the TPS metrics are irrelevant. The reason that you could have this dichotomy between high TPS numbers and slow finality comes down to the security of the blockchain.

At the end of the day, exchanges, merchants, and users are only going to fully accept a transaction if they are certain that it has been fully received. That means they are going to want to make certain that said transactions cannot be reversed.

If there is a chance that these can be reversed, then these participants are going to demand a high number of block confirmations before acknowledging receipt. This of course adds time to a transaction.

For example, although Ethereum classic has a similar TPS level as Ethereum, exchanges like Kraken requires 40k confirms to credit balances. That is just because they are so concerned about double spend attacks. Of course, these confirms take ages and therefore mean that the TPS metrics are near meaningless for speed.

There are a number of other projects that have similar contradictions when it comes to TPS & speed - which I will be covering in the vid.

I will also be looking at some of those projects with the most potential based on their transaction speed.

It's going to be a good one, so keep your eyes peeled on the tube Open / Comment

2021-06-02 19:16:20

Open / Comment

2021-06-02 19:16:13 Hey Guys,

Markets seem to have perked up quite a bit this week - especially alts.

Kudos to all those hodlers who managed to ignore the FUD.

Now that things seem have to stabilised, it’s time to start considering whether there are any attractive alts to pick up.

However, before you can really do that, you have to have a solid grasp of what types of crypto tokens / coins there are and *why* they have value.

So, in my latest video, I take you guys through my 101 guide of the crypto sectors. From stores of value to smart contracts. Privacy coins to exchange tokens.

I also take you through some of the most interesting cryptocurrencies in this sector as well as their longer-term potential.

Seriously guys, despite your experience level, I highly encourage this video as it will help to cement that investing due diligence. I also suggest you send it to those friends who are just dipping their toes in the crypto markets.

Enjoy!! Open / Comment

2021-06-01 19:14:54

Open / Comment

2021-06-01 19:14:47 Let me ask you guys a question: Have you spent your crypto on anything yet?

I know, a lot of us are sitting on those gains hodling our coins to the proverbial moon. However, cryptocurrency is a currency and as such is meant to also be spent.

It has to be used as a medium of exchange if we are going to increase its broader adoption.

However, what can you really buy with crypto?

Well, that is exactly what I have decided to dig into today in my latest video. I will be taking a look at 10 of the craziest things that you can pick up with your sats.

Everything from holidays to PC games, cars to houses. Things that you may want to enjoy as the world starts getting back to normal.

This was a really fun one to make so I hope you guys enjoy it as much as me Open / Comment

2021-06-01 13:57:38

Open / Comment