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Is Evolution and Dash compromised by the banking relations

Discussion in 'General Discussion' started by untetherbtc, Dec 25, 2017.

  1. untetherbtc

    untetherbtc New Member

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    #1 untetherbtc, Dec 25, 2017
    Last edited: Dec 25, 2017
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  2. daf

    daf Active Member

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  3. untetherbtc

    untetherbtc New Member

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    I cannot link directly.
     
  4. MrGold

    MrGold Member

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    I had a hard time absorbing the whole (long) article, but did pick up a couple of main points: 1) The author thinks that an upcoming "community driven EXTERNAL $US AUDIT" on 2018/01/02 will reveal that certain exchanges hold much more USDT than they do $US, and are therefore unable to sell $US to BTC or Dash holders at existing high valuations. The author is predicting this will cause $US/Dash and $US/BTC to crash, although he also seems to predict that this would be a good thing in the long run since it would give many people the opportunity to purchase some BTC or Dash at lower prices, and that the $US/Dash and $US/BTC prices would rise again after, and be believable this time. 2) The author seems to think that the Evolution wallet is compromised because it will allow users to buy these factionally reserved USDT but then find out they can't get real $US with them.
     
  5. untetherbtc

    untetherbtc New Member

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    there is a better summary at the top of the article.
     
  6. untetherbtc

    untetherbtc New Member

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    How this affects the DASH community is that given the FIAT flowing into dash is via a one way street (scam bank) and when people decide to try and withdraw signifiant Fiat they will be highly surprised to learn they are dealing with known criminals.
     
  7. demo

    demo Well-known Member

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    The primary target IMHO is to stop effective governance.
    Everything else follows...
     
  8. PDSDownunder

    PDSDownunder New Member

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    Is this a worry...I've consolidated all my profits from this year into Dash as I think they going to have a great 2018...but if the foundation to its structure is weak then maybe I should reconsider??
     
  9. untetherbtc

    untetherbtc New Member

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    Why don't you do a few tests to assure yourself. 1) try and withdraw your DASH as FIAT cash from Cryptocapital < Dash 'Banking'. 2) learn about who you are dealing with 'banking wise' as proven in the linked article (above). 3) experiment with the services provided by Coinapult (LOCKs) to understand better how others could be trapped. 4) report back here on your findings.
     
  10. PDSDownunder

    PDSDownunder New Member

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    Im in Australia and have both withdrawn Dash into Fiat using coinspot and through Living Room Of Satoshi website used Dash to pay my debt card off.. if you right I can't wait for Dash to drop in price so I can buy more!
     
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  11. solarguy

    solarguy Active Member

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    I have no love for Tether, so don't take this the wrong way....

    The article contains 99% inuendo and accusations. It does not qualify as journalism. The author desperately needs an editor and fact checker. The links provided to demonstrate xyz accusation generally does not do that.

    " There is good speculation that HaveLOCK...."

    OK, just stop right there. "good speculation".......really? Good speculation as opposed to what....just making shit up?

    So far as I can tell, the only people who are at risk here are people who keep their crypto on an exchange, and use this BS feature called Lock(Tm) that "protects" you from downward price volatility.

    We have shouted it from the rooftops a thousand times, don't keep any substantial money on an exchange. If you don't hold your private key, that money isn't really even yours. And furthermore, waving the magic "Lock(TM)" wand over your Dash or Bitcoin in the hopes of magically being protected from downward volatility is dumb as a sack of hammers.

    And the big "link" between Dash and tether is through the scumbag Ira Miller. He promised to integrate us in the Lamasau ATM thing, and never delivered, and is now dead to us. There is zero relationship between Dash and Ira Miller or between Dash and Tether.
     
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  12. PDSDownunder

    PDSDownunder New Member

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    Nice:)
     
  13. younglegend

    younglegend Member

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    I don't trust tether and warned people about this, and I believe dash will have least effect when this goes south.

    1. most dash were bought with btc and korean won in recent history.

    2. lower trust in other competitors make dash more attractive.
     
  14. Arthyron

    Arthyron Active Member

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    #15 Arthyron, Dec 28, 2017
    Last edited: Dec 28, 2017
  15. seascape

    seascape New Member
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    I think there might be more to it than that. I agree that the article relies heavily on unproven assumptions and innuendo but this was linked in the article: https://dashpay.atlassian.net/wiki/spaces/OC/pages/65044521/Fiat+Access+Gateways+project+description. It is a post by Robert Wiecko from August 2016 which clearly shows that Dash has direct relationships with Coinapult and CryptoCapital, presumably as part of the fiat on/off ramp for Evolution. The alleged link between Dash and Tether is via Coinapult who, the OP alleges, is using CryptoCapital as a bank for their Lock[Tm] service. The theory is that CryptoCapital is securing locked BTC by buying Tether, not actual US dollars. Neither CryptoCapital nor Coinapult mention Tether, but neither do they say specifically how they do secure and insure locked funds, so everything is open to conjecture. It seems at least plausible to me that the allegation could be true.

    Personally I have never bought Tether or used Lock[Tm], and I don't care too much if Tether implodes. But I do care a lot about Dash and Evolution and I would like to be assured that Evolution will not inadvertently be using Tether in any way, directly or indirectly. And if CryptoCapital and/or Coinapult should implode along with Tether I would like assurance that it would not be a disaster to Evolution. Is there anyone from Core who can comment?
     
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  16. kot

    kot Administrator
    Core Developer Dash Core Team Foundation Member Dash Support Group Masternode Owner/Operator Moderator

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    Guys,
    Author of this article made a lot of assumptions that have no confirmation in reality. I can see no connection between Dash network, Evo and Coinapult/Crytocapital, so I can see no impact on our network. Probably the author made his assumptions based on the fact that Ira Miller was working on one of our projects, however Ira Miller and Deginner failed to deliver their projects and we do not use their services anymore.

    You can find many information about Thether in the network - please study them carefully and make smart decisions.
     
    #17 kot, Dec 29, 2017
    Last edited: Dec 29, 2017
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  17. seascape

    seascape New Member
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    Hi Robert, thank you for responding. Do you mean that the 'business partnerships' with Coinapult and CryptoCapital as listed in this document have been terminated? https://dashpay.atlassian.net/wiki/spaces/OC/pages/65044521/Fiat+Access+Gateways+project+description
     
  18. demo

    demo Well-known Member

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    #19 demo, Dec 29, 2017
    Last edited: Dec 29, 2017
  19. kot

    kot Administrator
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    No, we did not terminate any business partnership - there was no reason to terminate it (and we are not terminating any relationships because of the low quality "journalism").
    Maybe I wasn't precise - Coinapult and CryptoCapital have no influence on the network operations, Core Team activities and Evolution development, therefore I see no reason to connect Dash with Thether as it was suggested in the article.
     
  20. seascape

    seascape New Member
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    Perfect. Thank you very much for clearing that up. As far as I am concerned the subject is closed.
     
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  21. demo

    demo Well-known Member

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    For me it is not closed, as long as the individuals who supported/voted for lamassu for 12 continuous months are still around.
    The developer who didnt deliver maybe was just the pinpoint of their arrow, a self-sacrifice person. They may use other disposable pinpoints now.
     
    #22 demo, Dec 29, 2017
    Last edited: Dec 29, 2017
  22. TroyDASH

    TroyDASH Well-known Member

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    It's closed. Bad/failed projects and the people that voted have nothing to do with whether or not Dash is linked to coinapult/cryptocapital/tether in the way this article describes.
     
  23. demo

    demo Well-known Member

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    https://www.dashninja.pl/budgetdetails.html?budgetid=lamassu-integration
    Check the YES votes of the lamassu project. I could not find a single masternode among them, who is still online now.
    Or maybe they just changed their masternode hash id, and they are still hiding among us.
    I believe it is the second, the scammers are hiding among us. So we expect the worst from them.
     
  24. slamdunk

    slamdunk Member

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    If tether is fraudulent, as I believe it is, then it will cease to function. My belief is the authorities will raid the tether operation.

    That will adversely effect the entire cryptosphere, DASH included. I think it would be difficult to determine just how those dominoes will fall. I only hope DASH is cognizant, even proactive in mitigating the effects.
     
  25. solarguy

    solarguy Active Member

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    And what would you have us do to "mitigate the effects"?

    We have no relationship with Tether.
     
  26. slamdunk

    slamdunk Member

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    I guess the only mitigation I could come up with is thorough vetting of the DASH business partners...if any vetting leads back to Bitfinex/Tether, I would hope DASH could manage to steer clear.

    But, if the problem is pervasive, then I concede there may not be much that can be done.
     
  27. camosoul

    camosoul Grizzled Member

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    It's the same weak foundation every other crypto has. If that's your fear, you better bail out of crypto altogether.

    Which is why I've been a very heavy (handed) advocate for IX.

    IX could soften (if not totally eliminate) vendor resistance to crypto, if only the PEOPLE of DASH weren't every bit as anti-vendor as every other cryptocurrency's people...

    There are two problems preventing vendor adoption. One was solved by DASH almost 3 years ago, the other was generated during that time...
     
  28. camosoul

    camosoul Grizzled Member

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    This is a distinct departure from the trajectory of Daniel's vaporware ATM scam...

    Since the last we heard from anyone DASH about Tether, is that Tether was indeed a part of the plan... Can we take this as news that this has changed?

    The idea of Tether was great, it's a shame to see this happen.
     
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  29. camosoul

    camosoul Grizzled Member

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    I don't agree with the frame around your statement, but I already busted @kot completely defying the core precept of DASH since day one...

    DASH's longstanding message has been "Fuck the ponzi!"

    Then DASH resorts to "Pay no attention to the man behind the curtain; check out that ponzi!"

    The surge wasn't DASH's doing.
    Even if it were, I thought DASH didn't care?

    He says whatever looks good at the moment, even if it means preaching something previously denounced and debunked...

    That doesn't necessarily mean he's covering for something, he's just too much of a blind zealot to be trusted. He clearly can't stay on point, and will throw around bullshit whenever it suits him.
     
    #30 camosoul, Dec 30, 2017
    Last edited: Dec 30, 2017
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