The state of cryptocurrency in China. If anyone tells you otherwise, they are lying.
It's been a while since I outlined the state of cryptocurrency in China, but I should probably tell you guys why this is important first: Journalists will do anything to shill you their "news" so they can get their sponsor dollars. Crypto YouTubers who comment on the story without reading the original news story or transpiration of events in Chinese further distort this message. With that out of the way, let's dive in to free knowledge. -Mining is just fine, so long as miners have all of their documents properly registered. The Chinese government thinks, "Whatever, sell this stuff to foreigners. We'll gladly let more USD flow in to our economy in exchange for thin air." -Most Chinese-owned exchanges set up offices abroad, usually in Singapore. Some have dev teams in Malaysia / Taiwan. -The Chinese government hasn't really out-right BANNED crypto ownership as far as I know, but they have certainly made it very difficult to own it. Which leads me to these two points: -I tried sending an APK file for an android phone wallet app to an American buddy of mine and his Chinese-made phone with a specialized Chinese distro of android would not allow him to install it. He sent me a screenshot that showed his phone basically displayed, "Unable to install application." or something similar. -I wouldn't be surprised to learn that Chinese-made distros of Windows, Linux, or Macintosh-specific operating systems do not allow users to install wallets to their desktops either - but I have not verified this. -These last two points can be circumvented by buying phones and operating systems made for foreign countries on China's ebay equivalent, Taobao. -There have been previous court-rulings where bitcoin was recognized as PROPERTY. -My view is that the CCP's attitude is, "Less crypto, less headache. Turn it in to USD and bring it in to China." -I would not be surprised to learn that later down the road the CCP makes a list of present cryptocurrencies that may be bought and sold legally in China in the future. I would only be shocked if bitcoin were not on that list. -It is commonplace for employees of exchanges to get paid in crypto in China. This is usually done with a stablecoin. -I have an undergraduate degree in Chinese and previously worked for a Chinese-owned exchange. This is where my knowledge comes from. -Everything listed here to this point in time should be treated like "law" unless Xi Jinping himself or another government official say otherwise in the near future. Any questions? Fire away.
UA Bat updates! Unions, TS Dunks, Cactus Jack 4's, Clothes, and way more!!
This time I will not be doing a long into like always, so let's get right into it.
1. How to order & Contact info:
WhatsApp: +1 646 637 7762
Website: UAbat (dot) com (@Mods can you finally whitelist my website please haha)
The prices on my website include shipping. This is very important regarding clothes, please read below for more information.
To order, check my website to see if the shoes/clothes/glasses are in stock in the colosize you want, then place an order on the website. You will get an order number. Contact me on WhatsApp or WeChat and give me your order number and ask for payment info. I accept PayPal (only friends and family), Bitcoin, and the other known methods. Once you have paid, wait for you QC. Once you GL your QC, I will ship just like with all other sellers. Guys please try to limit questions like "I want to order Unions", "How can I order from you" , "When will unions restock", "can I pay now and be on the waiting list" Or anything else because this only takes time from us all because answering them means working less on other stuff because I only got 24 hours/day. Don't misunderstand me I love answering your questions and talking with you but I always make it clear in such posts (which I make weekly) whether or not the unions are in stock, how to order, etc.. it just hurries up the process and makes sure everything runs more smoothly.
I mentioned this in a comment before, but I will say it again. COVID-19 is getting worse in some countries and we've had it for longer in China. I know masks don't help 100%, but I honestly think it's better than nothing. Therefore, I am doing this solely to help you guys. The masks I use myself cost 0.40$ per mask (without shipping) so if someone thinks that a mask would make them feel safer (which I honestly do) contact me and I will get you masks and sell them to you at my cost. I really want to make no money off this. They are packaged in a clean way and are not touched by human hands obviously. Here are pictures of the packaging. I really want nothing but your safety on this, because I am a firm believer that if you do good, good will happen back to you or your family. As I said, wholesale price is 0.50$ per mask and then shipping. I will literally happily do send you masks if you feel that you need them. Regardless, please stay safe, no matter how. This is a serious situation.
I have added glasses to the website. Check them out you won't be disappointed!
3. Unions (finally the part you've all been waiting for):
As I have already mentioned here and there, I have gotten even better leather and we have finished making the materials (to an extent) and now all that's left is the actual shoe production/assembling. To the People who have already ordered and have been waiting, I'd firstly like to say sorry. It took longer than expected due to Chinese New Year, followed by COVID-19 :/ However, you will start receiving QC within 15 days. Once all "owed orders" are done, I will start selling the extra stock. So basically, expect QC in 15 days.
4. Travis Scott Dunks
If you follow me on instagram (like you should be doing because I'm doing a giveaway soon), you will see many updates there. We are working on the TS Dunks. We have dissected a pair and started working on the materials.
5. Cactus Jack 4's
Once I produce all the Unions, CJ 4's will be after. So I will start probably the CJ4's around 10/04/2020. Maybe earlier even.
6. Sean Wotherspoon/DIO..
SW's and DIORs are both a challenge. I haven't started the SW'S nor the DIORs, and I think that the DIORs will be delayed till after the release to be honest. SW's are hard because I'm already focusing on TS Dunks atm, and SW's need special care because the materials are basically everything, and they're the biggest challenge.
Some of you asked me to keep you updated on the story. Anyways, I will be supplying u/Just_some_n00b with soles so he can show us how creative he is with his custom sneakers. We haven't done anything yet but it seems like it's working out :D
Guys my idea is to become an "agent" but not really an agent. More of an online mall. I'm constantly trying to contact and make deals with the best sellers/factories for their brand/"niche"(if that's even the correct word to use). I posted some Stone Island footage a while ago on my instagram too for example. Those are not mine so not my factory, but those are the best of the best. My idea is for you guys to have it all in one place instead of having to buy an item from Taobao, another from weidian, an item from me or another shoe seller,... This way, you will have it there, without having to worry about GP'ing new stuff, and not knowing how the quality will turn out and/or you will be able to return/exchange the product etc.. I hope this you guys understand what I mean and we can achieve this together! Thanks :D https://preview.redd.it/6oe77kjtyhn41.jpg?width=1280&format=pjpg&auto=webp&s=d27b8aa80a8aa420014cbcdcb161e95ef8afe9c8
Let's be honest, these sellers have been taking over. This is a buyers market, not a seller's market. Although we love seeing new products that our favourite sellers have, we think it is time to scale it back a bit. So, going forward, SELLERS MAY ONLY POST ONCE PER WEEK. If a seller breaks this rule (which will be updated in the rules located directly on the sidebar), they will receive a temporary ban. The only exception to this is if a seller contacts us directly with justified reasoning as to why they need to post more than once. An example of this was UABat needing to clear up issues (he wasn't advertising directly in the first place) For further justification of this change, we have noticed that sellers will post every four days and only actually have 2-3 new products. By prolonging their posts, we expect to see more new products. As a reminder, SELLERS MUST CONTACT MODS TO HAVE THEIR POSTS APPROVED. Sellers usually do a video + a bunch of links. This gets stuck in automod, and half the time their comment doesn't show up due to the links. We need to manually approve it. Additionally, we don't allow sketchy sellers to just join in and post whatever they want. We do not want anyone in the community to get ripped off. You guys would be surprised at the number of sellers that try to post sketchy stuff on here (no Taobao store, bitcoin only, etc.) Now, I ask forYOURhelp - Please ensure sellers see this. Obviously, if they slip up once it is, that is understandable. We will just remove the post and remind them. The more they see this the better ;). TLDR - Too much spam. Sellers, you may now only post once a week and it needs to be approved. Users, get some finds/review posted ;)
在人脸识别数据库之后，安全研究人员 Victor Gevers 报告了一个外泄的社交媒体监视数据库，包括了 3.64 亿用户的资料和聊天记录，这些账户还被关联到用户的真实身份。这并不令人感到意外，中国的社交网络已经全面推行后台实名制，通常是关联手机号码，而手机号码已完成了实名制推广工作。这个数据库监视的平台包括了腾讯旗下的 QQ 和微信，这两个服务在中国都有数以亿计的用户。 https://twitter.com/0xDUDE/status/1101909112131080192 Can anyone (from China) identify these Messaging services? qg <-- QQ_group qqmesg. <-- https://www.imqq.com/ wwmsg <--. WangwangAlibaban~Taobao imsg – iMessage qqmesg – Tencent QQ wxmsg – Weixin, aka WeChat yymsg – YY (China’s twitch) In China, they have a surveillance program on social networks which looks like a jerry-rigged PRISM clone of the NSA. So this social media surveillance program is retrieving (private) messages per province from 6 social platforms and extracts named, ID numbers, ID photos, GPS locations, network information, and all the conversations and file transfers get imported into a large online database. Around 364 million online profiles and their chats & file transfers get processed daily. Then these accounts get linked to a real ID/person. The data is then distributed over police stations per city/province to separate operators databases with the same surveillance network name With these "operator databases" the local law enforcement investigate 2600 to 2900 messages and profiles. The name new table per day to keep track of the progress. So they manually review the social media communication (public/private messages). And the most remarkable part is that this network syncs all this data to open MongoDBs in 18 locations. "r_Capture_Time" : "2019-03-03 02:58:08.0", "r_QQMsg" : "2019-03-03 02:58:08 \"ζ°? 、XXX丶ζ说:!收【【【46--48道士号】】】卖的微信XXXXXXXXXXXぁ" https://pbs.twimg.com/media/D0woGfKWsAEEDbM.jpg Victor,in China ISP use this software https://pbs.twimg.com/media/D0ve-qPV4AA0Tl-.jpg Massive Database Leak Gives Us a Window into China’s Digital Surveillance State https://www.eff.org/deeplinks/2019/03/massive-database-leak-gives-us-window-chinas-digital-surveillance-state Earlier this month, security researcher Victor Gevers found and disclosed an exposed database live-tracking the locations of about 2.6 million residents of Xinjiang, China, offering a window into what a digital surveillance state looks like in the 21st century. Xinjiang is China’s largest province, and home to China’s Uighurs, a Turkic minority group. Here, the Chinese government has implemented a testbed police state where an estimated 1 million individuals from these minority groups have been arbitrarily detained. Among the detainees are academics, writers, engineers, and relatives of Uighurs in exile. Many Uighurs abroad worry for their missing family members, who they haven’t heard from for several months and, in some cases, over a year. Although relatively little news gets out of Xinjiang to the rest of the world, we’ve known for over a year that China has been testing facial-recognition tracking and alert systems across Xinjiang and mandating the collection of biometric data—including DNA samples, voice samples, fingerprints, and iris scans—from all residents between the ages of 12 and 65. Reports from the province in 2016 indicated that Xinjiang residents can be questioned over the use of mobile and Internet tools; just having WhatsApp or Skype installed on your phone is classified as “subversive behavior.” Since 2017, the authorities have instructed all Xinjiang mobile phone users to install a spyware app in order to “prevent [them] from accessing terrorist information.” The prevailing evidence of mass detention centers and newly-erected surveillance systems shows that China has been pouring billions of dollars into physical and digital means of pervasive surveillance in Xinjiang and other regions. But it’s often unclear to what extent these projects operate as real, functional high-tech surveillance, and how much they are primarily intended as a sort of “security theater”: a public display of oppression and control to intimidate and silence dissent. Now, this security leak shows just how extensively China is tracking its Xinjiang residents: how parts of that system work, and what parts don’t. It demonstrates that the surveillance is real, even as it raises questions about the competence of its operators.
A Brief Window into China’s Digital Police State
Earlier this month, Gevers discovered an insecure MongoDB database filled with records tracking the location and personal information of 2.6 million people located in the Xinjiang Uyghur Autonomous Region. The records include individuals’ national ID number, ethnicity, nationality, phone number, date of birth, home address, employer, and photos. Over a period of 24 hours, 6.7 million individual GPS coordinates were streamed to and collected by the database, linking individuals to various public camera streams and identification checkpoints associated with location tags such as “hotel,” “mosque,” and “police station.” The GPS coordinates were all located within Xinjiang. This database is owned by the company SenseNets, a private AI company advertising facial recognition and crowd analysis technologies. A couple of days later, Gevers reported a second open database tracking the movement of millions of cars and pedestrians. Violations like jaywalking, speeding, and going through a red-light are detected, trigger the camera to take a photo, and ping a WeChat API, presumably to try and tie the event to an identity.
Database Exposed to Anyone with an Internet Connection for Half a Year
China may have a working surveillance program in Xinjiang, but it’s a shockingly insecure security state. Anyone with an Internet connection had access to this massive honeypot of information. Gevers also found evidence that these servers were previously accessed by other known global entities such as a Bitcoin ransomware actor, who had left behind entries in the database. To top it off, this server was also vulnerable to several known exploits. In addition to this particular surveillance database, a Chinese cybersecurity firm revealed that at least 468 MongoDB servers had been exposed to the public Internet after Gevers and other security researchers started reporting them. Among these instances: databases containing detailed information about remote access consoles owned by China General Nuclear Power Group, and GPS coordinates of bike rentals.
A Model Surveillance State for China
China, like many other state actors, may simply be willing to tolerate sloppy engineering if its private contractors can reasonably claim to be delivering the goods. Last year, the government spent an extra $3 billion on security-related constructionin Xinjiang, and the New York Times reported that China’s police planned to spend an additional $30 billion on surveillance in the future. Even poorly-executed surveillance is massively expensive, and Beijing is no doubt telling the people of Xinjiang that these investments are being made in the name of their own security. But the truth, revealed only through security failures and careful security research, tells a different story: China’s leaders seem to care little for the privacy, or the freedom, of millions of its citizens. https://www.reddit.com/4832/comments/ax7e5s/%E9%BB%91%E5%AE%A2%E5%A4%A7%E6%8F%AD%E7%A7%98_%E6%8E%8C%E6%8F%A1%E4%B8%AD%E5%9B%BD%E7%9B%91%E8%A7%86%E7%BD%91%E6%B0%91%E9%93%81%E8%AF%81/ 2019年3月4日，中国线民翻墙转贴，但相关资讯很快遭封杀。（推特截图） 中国监控网民在社交媒体活动的行为虽然早已公开化，但中方一直拒绝承认，亦没有收敛的意图。但是，一名黑客周一（4日）发布大量中国监控网民的证据，反映微信及QQ等聊天平台全无隐私保障，且随著中国网络公司的海外扩张，对其他国家构成严重威胁。 据网名Victor Gevers 的网络从业人士周一（4日）在推特透露，在中国电信骨干网的人脸识别数据库后，发现了18个分布式数据库，里面包含了微信、QQ、旺旺等6家社交网站的明文数据库，完整地记录了至少从2018年以来的这些用户的聊天记录。 此外，该监控系统每天大约处理3亿6千多万个在线个人资料及其聊天、文件传输，能检索每一个用户的私人信息，并提取名字、ID号、ID照片、GPS位置、网络信息，并将所有的对话和文件，传输在线数据库，并将这些私人信息和数据同步到每个省市警方。 根据这些数据库，各地的执法部门会调查2600到2900条消息和配置文件，并根据需要进行手动审查。 据悉，该黑客在数据库里逛了整整两周，看这些网民聊天，直到最后他通知运营商，他进了他们的数据库，然后，运营商才关闭了这18个数据库的访问。 据要求匿名的知情人告诉本台记者，骨干网，都是归属于运营商，是非常重要的网络，成本很高，一般不会商用，而官方将政府监控项目放在上面，也是为了让全国的警察能快速调取。 曾引言获罪被关押长达10年的维权人士任自元表示，这样监控系统，在中国很平常，并且随著技术的升级，他们已能做到动用机器筛选，然后再有针对性的转人工审查。对这样的监控项目，一直是中国政府最看重的事情之一。 任自元说：任何人的（资料）都在那儿，每个人的他都掌握。他已经可以做到这个了。对它来说，这是它的头等大事啊。它是由系统自动甄别的，然后系统自动甄别，再挑选一部分转人工啊。这个负责审查的人，它要调所有的看呀，他这样干。一些不重要的、保存一定时间之后会被删掉，自动删除的。反正公安系统的人都知道，他们自己的，也被监控的。老百姓很多不知道的。 熟知中美两国情况的杨宁远博士指出，在中国生活，被监控是普通的事情，只是这次被人发现了证据。他认为，在一个没有法制，可以随时践踏人权和法制的国家，这样的现象不足为奇。 杨宁远说：就是说现在发现证据了嘛，大家的言行被监控的了。我看到这个我觉得一点都不奇怪。这么多年，我这个手机被监控，我的所有的信息都被人看。在一个人可以随便失踪，被随便抓的国家，在一个冤假错案可以不平反，可以指鹿为马的国家，出现这种事情那太正常了嘛。 据知情人透露，随著大量海外人士使用微信和QQ等中国聊天软件，甚至用这些软件谈论和传递工作信息，也导致他们的信息已经没有任何秘密可言。 此外，随著此事被网民们从推特截图并转发到国内，引发了广泛的关注，但也因此给翻墙截图的网民带来危险。一位网民告诉本台记者，他现在只能迅速消除痕迹以免被抓。 本台致电运营商中网在线，但该公司的公开电话无人接听，并被自动转到了语音留言。 中国政府监视民众的通讯，一直是公开的秘密。但随著互联网的兴起，以及中国在通讯领域的迅速扩张，利用网络监控民众，也变得更为便捷。同时，中国的军情系统也不遗馀力地通过向海外推广微信等中国聊天软件，试图获取更多其它国家和民众的有价值的信息。 RFA 黄小山 / 覃晓言 2019-03-04
So you’ve found your way to reptime. Congrats! It’s a great place to hopefully help you find what you’re looking for. There’s a lot of information and it all depends on how far down the rabbit hole you wanna go, but you can get anything from the crappy DHGate/AliExpress $30 fakes, all the way to a top tier replica for $300-500. You can even go further than how it came to you from China by “frankening” the piece – adding genuine and other modded components to help the watch achieve a look ‘even closer to gen’. There are a few terms to understand in order to begin here. I don’t endorse them, sometimes I use them, but they are used frequently: - Rep: Replica - Gen: Genuine (referring to a genuine watch) - QC: quality check – in reference to photos of watches - W2C/WTC: Where to cop… aka where did you get that? Or Link? - TD: Trusted Dealer (I’ll get more into that later) - ZF, Noob, V6F, BP, MK, ARF, JF, etc: some of the top factories (I’ll also get more into that later) - 2xAR xtal: a sapphire crystal coated with 2 layers of anti-reflective coating - GL and RL - Green and Red light, referring to QC pictures being OK to accept or not. Now for the ‘tiers’ of reps: Bottom Tier If you want cheap stuff, no or bad QC, but want to pay $150 or less, go to DHGate AliExpress Taobao I won’t tell you what to search or how to find it there. I don’t use it, the watches there barely resemble the watches they are trying to represent. It’s just not worth it unless you want to try it on a shoestring budget. Top TieTrusted Dealer Trusted dealers have earned their way to that status – trusted – because they have a large customer base and are willing to go through investigations through the forums that have a tough and active moderation team (RWI, RWG, etc) if a sale goes awry. I recommend if you are going to utilize a trusted dealer (which is the ONLY way as far as I’m concerned), make sure you have an active account on the forums and post there so that the moderation team can back your order. If you aren’t on the forum, and your order goes bad, no one is obligated to help you. Trusted dealers get not a ton of dough from your sale, but they almost all offer a customs guarantee - you will receive a replacement watch for free if customs seizes it. Be nice and remember that they are doing work for you and should be compensated for that time. The trusted dealer experience works differently for each one, but for the most part, the flow is as follows:
Order (either through their website or through email). They are busy. Keep your emails short and to the point.
Payment – some accept credit cards*, others primarily do Bitcoin, Western Union and Moneygram. Some accept some of the more convenient services like paypal, but you typically have to be an upstanding member of the community for over a year.
Wait for QC. This can take 2-7 days depending on availability. Typical turnaround time is 2-3 days.
Once QC is received, these are pictures of the actual watch you will get in the mail. Make sure you check it for major defects. Don’t get too picky, remember that these are $3-400 replicas of $2k-60k watches, made by people who probably make a bit more than minimum wage in some cases. If a TD rejects a watch too many times, the factory or dealer they buy from will begin to refuse sending new watches and just offer a refund. I won’t get into how to approve QC, because you should be doing research on the model you want and what you want to look out for.
Once you approve QC, it will take 1-2 days for the TD to send it off to their courier. You can also ship via triangle shipping, which is a higher price, but recommended for European countries.
While in transit, the package has to make it through customs in China and customs in your country of origin. If it gets seized in your country, you will get a letter. Don’t respond to the letter ever, just send that to your TD and they will order a new one for you as part of the guarantee. If it doesn’t get seized, it typically takes 5-7 days from TD to your front door
Enjoy the watch. Get a $20 watch service kit from Amazon or whatever and resize the bracelet.
DON’T TAKE IT TO A JEWELER AND PRETEND IT’S THE REAL THING. They will lie to your face and make you think they think it's real because its good customer service to make people feel good about themselves. They are trained to do that. Just some practical advice - take it or leave it - don't tell your friends and loved ones that these are the real thing. It's better to be honest. If you want to know the full reason, PM me, I'm happy to share why honesty is important.
What if your watch is broken upon arrival? You MUST make a log in on the forums where the dealer is a trusted dealer, and post enough there in order to log a ticket to file a dispute. They will not help you if you create an account after your issue arises with a TD. It is their rules.
* Some have reported credit card numbers being stolen after using at TD websites. While the TDs are trusted, sometimes the agencies/companies they use to process credit card transactions aren’t trusted. They try their hardest, but there have been slip ups in the past. I’ve used my CC a couple times and haven’t had fraud. Trusted dealer websites (these are the TDs from the forums - RepTime has no official Trusted Dealers!) These change frequently due to the original companies wanting them taken down for understandable reasons. The websites are usually down for a night then back on a different domain the next day – they change probably 2-3 times per year. If you want an updated list (in case these domains get seized and I haven’t updated the post), go to the forums and see if they put a new one up. There are more than these TDs on the forums, too, this is not an exhaustive list. Also please note, reptime has no official Trusted Dealers, this is just a list I made to help others know some of the major ones out there that are vetted by the bigger forums. If you need help with any of the trusted dealers, you MUST be a member of the forum where they are listed as a TD in order to receive support. UPDATED September 18, 2020 https://puretimewatch.io/ one of the top in the business http://www.trustytime.asia has videos of nearly every watch, posts here occasionally u/trustyworld https://www.mirotime.net TD with excellent service, posts frequently here u/mirotime https://geektime.cc TD with Excellent service, posts frequently here u/geektimewatch https://fatpanda.slickpic.com/gallery email to order, top notch QC https://www.jtime.cc TD with excellent service https://chazingtime06.co/ https://www.intime05.co/ https://www.pfclones.com/ Has vids for almost every watch too. http://www.hontwatch.ru/ http://www.trb88.club/ https://kuvarsit08.com/ Active here on Reddit u/kuvarsitsteve https://www.ts-stations.cn/ no longer a trusted dealer on RWI, but has a great site layout Full list here (must be a member to see) RWI: https://forum.replica-watch.info/forum/trusted-rep-dealers RWG: https://www.rwg.bz/board/index.php?/topic/60-rwgs-trusted-dealers/ RepGeek: https://www.repgeek.com/trusted-watch-dealers/ Forums https://www.replica-watch.info/ (the most popular) http://www.rwg.bz/board/ http://www.repgeek.com/index.php Please go to these and get a log in and check out the topics. They are insightful, and incredibly informative. There’s even a member sales section there too if you have enough posts. Factories There are certain popular factories to choose from and not all ‘good’ factories are the popular ones. Some of the smaller factories specialize in one or two watches but they are GOOD. The factories in total release probably 2-10 new models every week (granted lots are shitty). The way factories work, from what I’ve read, is that someone who wants to make a watch will order dials from a dial plant, cases from a manufacturer who specializes in case making, etc, and then receive ‘proofs’. Once they approve of the proofs, they will then order batches of 100-500 and manually assemble the pieces (dial, case, hands, date disc, movements, straps, buckles, etc). This is not easy stuff and usually they know what they are doing. When a watch is out of stock, it can be out of stock forever. Major Factories (detail received from many postings around the internet, sometimes shamelessly copy/pasted):
ZF / Z+F: High quality factory for most non-Rolex watches. Overall a good factory with solid releases. Just starting to branch into AP and RM, and they are pretty good.
Noob / N Factory: Noob factory is probably the most famous factory among others, they start a very long time ago and really developing their piece of replica. Noob is the master of Rolex model, especially Submariner, GMT master II, Deepsea, datejust and recently the just made a new version of Day-date, Daytona, and Yacht Master. Some of those flagship are really good with super-clone SA3135 movement, and they called it as V7 and now V8 with 904L steel. Besides Rolex, Noob also developing some brands like some Planet Ocean Omega, Blancpain, some Audemars Piguet models, and some Panerai model.
VSF/V6F/XF/HBB/KW: All fall under a common parent company, but VSF specializes in Omega super-reps and Panerai, V6F does quite a bit of projects (though the name isn't used much nowadays) and XF focuses on Audemars Piguet. HBB does Roger Dubuis.
ARF/JF: JF is the brand name of AP reps. High quality, great detail, though ZF is showing them a run for their money these days. JF also makes middle-high tier Rolex watches among others. ARF is a division that focuses on high quality Rolex releases that focus on finishing.
ZZF: Quality releases recently for Rolex.
PPF: Supposedly family of ZF, but focused on Patek. Has the best current Nautilus
BP/GMF: BP is one of the OG rep factories. Has reps of most brands and models, and are at an affordable price. GMF seems to be a higher end brand focusing on finish, but sourcing from similar places.
MK/MKS: Focuses on IWC, Patek and Omega releases, though they have branched into other brands too.
TF: Specializes in tourbillons (hence "T" F), but most are 42mm and kind of thick.
GF: Originally started focusing on German watches ("G"F), but have branched into many other Swiss brands like JLC and Cartier. Creates 'copy cat' models for a bit cheaper, and sometimes surprises with improved details
FK: Makes quite a few reps, most are not very good or just barely miss the mark for one specific reason. However, their Breguet 5177 v3 watch is superb!!! So do not underestimate any release of theirs.
R Factory: Rolex
YLF: Connected to ZF, focuses on IWC
VRF: Specialized in the Rolex arena with an excellent sub, excellent new VR3135 movement, and gold wrapped subs too.
OMF: Focuses on middle tier quality and prices, but recently have high quality Omega releases
PF: Revolutionized the Nautilus market with the first thin Nautilus. However, they were recently outdone by PPF. Focused on Patek, but have other releases.
3K: Newer factory (as of 2020) that released a clone Patek movement.
JJF: Focused on Vacheron and Patek releases, came out with the great Overseas rep.
Who makes the best Rolex sub? My opinion only, there are many different opinions out there. As of March 9, 2020.
ZZF v2 3135
ARF v3 3135
Posting QC Photos
QC pics are the photos (and sometimes video) you get from your Trusted Dealer for the specific watch that you've ordered and will be shipped to you. While it is reasonable to ask for a new watch if there are significant defects in craftsmanship, there are also other reasons NOT to ask for a new watch that are a bit too 'picky' (i.e. microsopic misalignment of certain details that are OK in gen even). Something important to understand in this type of black market product with not a lot of QC oversight is that you cannot be too picky, and it can be tough for TDs to exchange products, meaning the loss is on their end if you do too many exchanges - just not a good experience for both the dealer and the customer.
Post all albums provided by TD up front
Write the following:
Dealer name - Puretime, Jtime, Mirotime, etc
Factory name - BP Factory, J Factory, ZZF, ZF, etc
Model name - Submariner 116610LN v2
Include the following as part of your evaluation prior to posting (if, for instance your watch does not have a bezel, put N/A):
Index alignment - are the hour markers aligned? Call out specific ones if they bother you - like '6 o clock looks crooked'. This also includes logo alignment as well
Date Wheel alignment - do the dates sit to one side or the other? Perfectly centered? Tip: some dates sit perfectly, and some don't on the same date disc sometimes.
Bezel - is the pip centered? Any of the engravings look improperly filled?
Solid End Links (SEL) - is there a gap between the bracelet's first link and the case lugs? How big is the gap?
Hand alignment - do the hands look reasonably aligned? Chrono hands point to 12?
Anything else you see - big scratches on the case, movement jewels missing, etc.
Here is a copy/paste format that will need to be used from here on out:
Model name (& version number):
Date Wheel alignment/printing:
Solid End Links (SELs):
Anything else you notice:
Optional index alignment tool courtesy of u/Bandyciakhttps://qc-checker.herokuapp.com/ Again, this will be REQUIRED for all QC posts, and will be removed if they don't follow the guidelines. Gold plating, wrap, and diamonds Gold plating is getting better, but it seems to be a mixture of copper and some other materials that give the finish and coloring of gold. There is a tiny bit of gold in there though. If you get a scratch, don’t buff it out, just live with it. A scuff will show the stainless steel behind it if you get a significant enough ding. However, I’ve owned 4-5 rose gold plated watches and haven’t had issues with a single one and I don’t treat my watches too nicely. Gold wrapping is more expensive but also much more thick. It will take a serious ding and still show gold. It has more gold % in it. You can buff it lightly with no issue. Diamonds in a haute horology piece is typically done with a fine gemstone and perfectly placed using a gemsetting technique that isn’t done in the same manner as a replica would be done. If you need or want the look, then do it. Just know the stones are probably CZ, and will fall out easily, and will be inconsistently placed – which gives a poor brilliance when looking at it. Movements:u/eposseeker wrote a great summary of the different types of movements out there (non-comprehensive): https://www.reddit.com/RepTime/comments/c889yu/movements_found_in_replica_watches/
viabithome supports Bitcoin payments With the development of the economy, the trend of globalization is constantly increasing, and consumption upgrades are continuing to make efforts. Throughout the world, more and more consumers choose online cross-border shopping. High-frequency consumption is more abundant, and light luxury brands are gradually increasing. Consumers are pursuing higher quality consumption, which has led to the continuous expansion of overseas purchasing and Haitao. Global cross-border e-commerce is also in full swing. In 2018, e-commerce sales accounted for 11.9% of total global retail sales, and it is expected that it will continue to grow in the future, and online shopping will become increasingly popular worldwide. In 2018, the proportion of global cross-border e-commerce shoppers reached 51.2%. Global B2C cross-border e-commerce sales reached US $ 676 billion, reaching US $ 826 billion in 2019. 📷 Data source: AI Media Data Center Amazon and AliExpress go hand in hand in cross-border shopping,As of 2018, the survey showed that global consumers used the cross-border e-commerce platform for cross-border shopping for the last time. 24% of consumers chose Amazon, and 16% of consumers chose Alibaba's AliExpress. 14% of consumers chose eBay and 10% of consumers chose Lazada. Amazon, founded in 1995, was one of the earliest companies that began to operate e-commerce on the Internet. It started to sell books only on the Internet. Now it has expanded to a wide range of other products and has become the world's largest online retailer. And the second largest Internet company in the world. AliExpress was officially launched in April 2010. It is the only online trading platform created by Alibaba for the global market. It is called "the international version of Taobao" by the majority of sellers. AliExpress is for overseas buyers, guarantee transactions through Alipay international accounts, and use international express delivery. Is the third largest English online shopping website in the world. In 2018, Amazon's global net income was US $ 232.9 billion, of which online mall business revenue accounted for 52.8% of total revenue. AliExpress mainly targets small and medium-sized overseas buyers. In 2018, the number of AliExpress buyers reached 150 million yuan. Social e-commerce stands on the cusp, industry scale grows rapidly As a new business format, social e-commerce is based on social media or online media that supports social interaction, and is an e-commerce that promotes online purchases and sales of products and services through customer participation. Compared with traditional e-commerce, social e-commerce has unique advantages such as experiential purchase, active user sharing, and rich sales scenarios. Users are both buyers and recommenders, and are popular with young people. The development of social e-commerce, while reducing the marketing costs of enterprises, has also made consumers more affordable. In 2018, the scale of the social e-commerce industry reached $ 2.842 trillion. With the deepening of the integration of social traffic and e-commerce transactions, the proportion of social e-commerce in the overall online shopping market increased from 4.5% in the three years from 2015 to 2018. 11.9%, social e-commerce stands in the air. Blockchain empowers social e-commerce, an imperative alliance The traditional e-commerce trading platform is centralized, and merchants and buyers must conduct transactions through this platform. This is also the root cause of the two pain points that merchants call for control and loss of neutrality. However, if buyers and sellers complete transactions through exchanges on a blockchain-based e-commerce transaction network, this will greatly improve the user's consumption experience. So what are the advantages of combining blockchain with social e-commerce? More convenient payment methods The biggest feature of the blockchain is decentralization. In the new Internet financial system based on the blockchain, buyers and sellers conduct transactions based on cryptographic principles instead of trust, without the need for third party participation, saving buyers and sellers. time. More scientific supply chain management The supply chain is a key element of every e-commerce platform. Implementing blockchain technology on the e-commerce supply chain platform can help solve problems such as recording business cores and product tracking. This reduces costs, which is an added advantage for companies and customers. More secure data management When paying, blockchain technology switches these central platforms to a decentralized system, where consumers store and control their own data in this decentralized system, thereby avoiding the potential risk of data leakage. More transparent and trusted transactions Blockchain can increase the transparency of transactions, thereby promoting trust. Every transaction is recorded in a shared account and cannot be modified by anyone. Blockchain is very popular in the financial industry. When it comes to the e-commerce industry, it is also adaptable, with the potential to reduce costs, increase transparency, improve security and transaction efficiency.It can not only help online business grow, but also create future Create more new opportunities. Bitcoin-the only choice for global e-commerce payment methods Nowadays, the e-commerce circle has a bitcoin payment. As a virtual currency, bitcoin can not only be used in the virtual world, but also extends to the depths of real life, and can even be used to make consumer payments directly online. More convenient, compared to the banking system, Bitcoin will never be frozen and the service cannot be terminated. From the perspective of cost, timeliness, and freedom, users are very open to this payment method. The application to cross-border e-commerce also brings unprecedented convenience to sellers. More secure, anyone with internet access can own a Bitcoin account (public / private key) for free. In the Bitcoin system, public keys are similar to bank accounts, and private keys are like passwords. As long as the private key is not stolen, the account balance will remain secure. Especially in a global environment such as cross-border transactions, its security is particularly important. More efficient, for cross-border e-commerce, Bitcoin is a media exchange without borders. Overseas buyers and domestic buyers conduct transactions directly through Bitcoin service providers. Full 100% conversion, regardless of exchange rate, the seller's payment will not shrink. Viabithome-a more secure, convenient and efficient cross-border payment solution Viabithome is a B2C mall based on blockchain technology. It has hundreds of thousands of high-quality goods worldwide. Its products are rich and inexpensive, and it is involved in all aspects of clothing, household appliances, skin care and beauty, daily necessities and so on. The purpose of the service is to reconstruct and optimize the decentralized platform through the blockchain, and build a next-generation e-commerce ecosystem that "builds and shares". Everyone is me, I am everyone. In addition to the traditional RMB value system, viabithome has also introduced a new value system-"Bitcoin". Incorporating blockchain technology, tracing the source, preventing counterfeiting and shoddy, and a convenient cross-border payment solution-Bitcoin payment, has attracted the attention of the industry.
Hey Guys, after I shipped my last few Hauls via Ytaopal I think I can give a honest Opinion about Ytaopal and can give you some Tips about Ytaopal If you are using Superbuy, you should check out hyperionfr `s Guide here. Its better and bigger than mine but he only talked about Superbuy as Agent, that inspired me about doing my own little Guide for yall.
How to buy from Taobao, Tmall, Yupoo and more Sources via Ytaopal
Shipping and Customs (+ my Experiences)
My Experiences with Ytaopal (+ compared to Superbuy)
1. What is an Agent?
tl;dr: An Agent is a commercial Service which lets you buy Items off of Chinese Websites and deliveres them to you. An Agent also sends you Pictures of your Items before shipping and is talking to the Sellers for you. These Services take a small fee for their Service but this is in the most cases absolutely worth it so you should use them. For new users coming to this sub daily it is hard to directly understand the point of an agent. Be honest, you did not do better in your first days/weeks. So instead of redirecting them to the searchbar just explain it to them in 2 sentences. The main website we buy our reps from is taobao.com. It is like a amazon or eBay for China - solely for China. The problem that results is that we need a connection between your country and China. You cannot buy from TaoBao directly (for most of the countries) and you probably would not understand anything. So here comes the agent in hand. You browse through your favorite TaoBao shops and find some items you want to buy. Now you do not buy it through TaoBao but through your agent (in our case Ytaopal). Ytaopal now buys this exact item and lets it deliver to their warehouse. You ask for pictures, measurements, exchanges, returns etc. When everything is fine Ytaopal will package everything and deliver it to you. They are the connection between you and TaoBao. (the longer Text was written byhyperionfrfor his Guide)
2. Which agent to use?
As suggested by the Title of the Post, Im using Ytaopal. In my time into Fashionreps I used a few Agents like Superbuy, Basetao, CSSBuy and Ytaopal. None of them is bad but there are some differences in their offerings and prices. For first-time buyers I would suggest going with Superbuy, which is a bit more expensive then the other ones but is the most professional and the most easy to use. In addition, you can find more than enough Guides for buying via Superbuy on this Subreddit.
How to buy from Taobao, Tmall, Yupoo and more Sources via Ytaopal
1. Buying things on Chinese Websites
tl;dr Taobao/Tmall Tutorial:
get a Link for what you want
go to Ytaopal and paste your Link into the Searchbar
Select type and sizing
Click the "Add to Cart" Button
Go into your Cart
Click the Checkout Button
Pay the Items
1.1 Signing Up
Just go to the top-right corner and select "Register". Just put in your email, username and password and you should be fine.
1.2 Finding Items
You can buy Items from many different Chinese Sites. You can find the officially Supported Sites on Ytaopals Homepage, altough its not listed there, you can order from Yupoo and Wechat too. For finding the Items you want, just take a look into the Subreddit and check out some of the Hauls other Guys did. In most cases you can find a Review of the Item and a Link to the Seller. You can also click some recommended Links on Taobao or explore some sellers on Yupoo. A big help while checking out Items on Taobao can be u/AColdFloor `s QCSuite Addon which can be found here. It displays the QC Pictures of other Users to you right on the Taobao site. With that, you can check how the Item looks in reality and can decide better. For Translating Chinese I found Google Translator (for Websites) and Yandex Image OCR (for Pictures) the most useful. Most of the time you can get a Sense of what the Seller is trying to tell you.
1.3 Buying Items
If you found the Items you want, click at the Searchbar at the Homepage of Ytaopal and just Copy your Link into it. If its a Link from a officially Supported Site you can just Click the Options and you see a Picture of your Pick. The Price will also be automatically filled. If you want to order from CNFashionBuy/CNFashionPub, scroll down at the Articles Site and click the Yupoo link. After you got the Yupoo Link just do the usual Ordering Process through Yupoo (below). When using the CN Sites, set the "Price" to that listed on the Site and set "Shipping" to 0. If you want to order from Yupoo, paste the Link into the searchbar on the Homepage and the Ytaopal Site will be Blank. Now fill out the Blank Spaces, into "Title" just copy the Name of the Yupoo Album of your desired Item. Prices should be listed somewhere on Yupoo too. Now just fill in the Size you want into the "Comments" field. If you want to order from WeChat, write an Email towards [[email protected]](mailto:[email protected]) telling them the WeChat Name and the Items you want, try to specify what you want as specific as possible. How to order from Taobao Imgur Tutorial How to order from Yupoo Imgur Tutorial
Ytaopal uses a Balance System, that means you cant be overcharged and can only pay what you charged up before. All Refunds will be added to your Ytaopal Balance. To charge up your balance just navigate to the Dashboard of your Ytaopal Account and click "recharge". For adding Money to your Account you can use Debit Cards, Bitcoin, Western Union, Bank Transfer, iDeal, Giropay, Polipayment, Trustpay, EPS, Mistercash, Mybank (France/Belgium/Italy and Luxembourg), Sofort, Safetypay and Multibanco. You can select the amount you want to charge up and the fees for it will be shown below. If you want to pay with Paypal (which is pretty likely), just write an Email at the Support. They are gonna tell you the Paypal-adress and what you have to do. Paying with Paypal is fee-less and takes 24h at most. (the Support needs to add the Balance manually to your Account)
1.5 the Warehouse
After you ordered your Items, you can see them listed in your Warehouse after they arrive at Ytaopal. The Warehouse lists your Items and shows the Order-Number, Price and Weight. When your Items are listed in the Warehouse, you can click on "QC Album" (on the Dashboard) or "My QC Pictures" (at the Sidebar) to see the Pictures your Agent took of your Pieces. In my opinion, those pictures are far superior to the QC Pics of Superbuy. (more to my Experiences down below) Ytaopal Warehouse + QC Pics Imgur Album
2. Getting your Items shipped to you
go to your Warehouse
select the Items you want to ship
click the "Add to package" Button
Fill in your Adress and your favourite shipping method
Pay for your Package
To get your fresh new clothes shipped to you, just go to your Warehouse and tick the Boxes besides the Items you want to ship then click "add new Package" and you will be taken towards the Checkout Screen. There you select your Shipping Adress, Shipping Service (DHL GANG GANG) and Select if you wanted to keep Boxes or throw them away. You should throw them away if you dont need them, that saves you a lot of money and can be benefical with the customs. Underneath you can input some Comments that you want to tell Ytaopal, unless like other Agents Ytaopal will not write those Comments on your Parcel. Ytaopal shipping Screenshot Imgur
Check the total weight of your Parcel
Check the Customs Regulations about Parcels for your Country
Pick the Price you want to declare your Haul at
Submit your Parcel
Write an Email to the Support including your Parcel-Number and tell them how you want to declare your Items.
Ask the Support to send you the Invoice they put on your Parcel
My Tip for you is to let the Comment Section blank and write an Email to the Support after you submitted your Parcel. When you write an Email you can tell them exactly how you want to declare it. If you dont tell them anything they will declare it at original Pricing so you should at least do it in the Comments if you dont want to write that Email. Also, if you dont tell them anything about the Items inside, they will just put the real Items on the Box (e.g. if you bought 3 Hoodies and 1 Shirt, it will just be declared at 3 Hoodies and 1 Shirt but fitting to the Price you want). If you just say they should declare it to 30$ for example they are gonna fit your Items to 30$ with free Shipping. Depending on your Country, you should probably set it to ~5$ Shipping or how you want. Remember to ask them to send you the Invoice they put on the Parcel. You will not receive a shipping Refund with Ytaopal, but the Pricing is a good bit cheaper than Superbuys. You can calculate shipping Prices via the Calculator found on their Homepage, remember that this is only accurate with EMS as DHL goes for volumetric weight which you cannot be calculated.
2.2 What happens when the Customs Check my Haul
First Advice, calm down. It is very unlikely that Customs open up your Haul randomly. If you are in a Country of the European Union, Customs cannot open your Parcel without you accepting to open it if its not looking Suspicious. If you are using DHL, just check the Tracking Site to see your Parcelstatus."Customs status updated" - Your Parcel has been announced to Customs or you need to hand-in a Proof of Worth for your Items. You can see this when clicking on the "+ Button" on the tracking Site. " Processed for clearance at LEIPZIG - GERMANY " - The Customs started working on your Parcel, nothing bad. " Clearance event " - Your Parcel is stuck or delayed, most of the time you are fine. If its on this Status for a longer Period of time, call DHL."Clearance processing complete at LEIPZIG - GERMANY " - Your Parcel got through Customs without Problems! How to do the Proof of Worth: Obviously, you dont want to pay Taxes so you need to fake the Invoice. The Invoice that Ytaopal sent you is not going to be accepted as such Invoices can easily be faked. So what do you send the Customs then? Just go to your Paypal recent activities and pick a Payment. Click F12 and edit the Date of the Transaction (to the Date your Parcel was Packed), the Worth (to your declared Value). Just take a Screenshot of your edited Transaction and upload it to DHL4You. You may need to call them and tell them you uploaded it afterwards. Sometimes they want the Proof of Worth for every single Item, just go to your Parcel on Ytaopal and F12 again. Change the Values of the Items to match the total worth of your Parcel and just send them this Screenshot too. There are probably Guides for declaration for your specific Countries on the Subreddit, just search them.
3. My Experiences with Ytaopal (+ compared to Superbuy)
In my Experience, Ytaopals Customer Support is the best I ever encountered. Big thanks to Alice and Shmily for helping me out with my Questions and Orders. As you can see in the Pics, I spammed them a little bit and they were very kind and never Rude. Remember Bois, always be nice to your Agent and Sellers, they are getting your Shit for you. The Emails I wrote to Ytaopal Imgur Here is a quick comparison between the 2 Agentservices:
- better QC Pics
- definetly worse QC pics
- more Personal, worse Website
- more automated, better Website
- uses their own Mind instead of just doing what you said
- does strictly what you said
- only Beijing-Time Support
- 24/7 Support
- fewer Workers, slower when there are more Parcels
- more Workers
As seen in the Table, Ytaopal is an Agent which requires you to Contact them a lot to manage your Shipments and Orders. That may be a bit complicated for newcommers, but gives experienced shoppers a lot more "customization". If you got any more Questions or anything, just write a Comment or send me Message, im glad to help.
Bottos chain CEO Li Xiang: The future of data securitization, everyone is Xiaolai Li
A few days ago, the IFIC International Financial Technology Innovation Summit, hosted by People’s Daily People’s Digital, Sanya City Bureau of Commerce, FINWEX, and Guoyin Jinkong, was held in Sanya. At the meeting, Bottos Chain CEO Li Xiang made the theme “The Hope of Machine Civilization”. The speech shows the basic positioning of the Bottos chain “the infrastructure that focuses on artificial intelligence, the application platform that serves data, algorithms and computing power”, and outlines the evolutionary framework of machine civilization to replace industrial civilization. During the meeting, Golden Finance interviewed the Bottos chain CEO Li Xiang. Bottos CEO Li Xiang
Golden Finance: Please introduce the development track of the Bottos chain?
Li Xiang: According to different development periods, we divide the Bottos chain into 1.0, 2.0 and 3.0. From 2017 to 2019, Bottos Chain 1.0 — positioned as an artificial intelligence infrastructure. Our entire team spent a year and a half developing BottosChain from 0 to 1, and open source at the end of May 2018, and officially handed over the community to decentralization in December of the same year. As a self-originating public chain, the Bottos chain BottosChain has its own independent property rights in many key technologies. At present, we have applied for 3 key technology patents, which are very flexible in the whole architecture design. We reserve the interface for the AI empowering blockchain, and at the same time have great advantages in commercial performance, and do everything possible to lower the threshold. From 2019 to 2021, it will be Bottos Chain 2.0 — positioned in the artificial intelligence industry. Our goal is to help 10,000 smart DApps to land, securing massive amounts of user data assets, and letting data, computing power, algorithms and other production materials Fast exchange, spiraling out higher AI wisdom, allowing the industry to achieve a higher premium. From 2022 to 2025, the Bottos chain 3.0 is positioned as a revolution in the AI back-feeding blockchain. Based on the accumulated industrial data and machine intelligence of the Bottos chain 2.0, the Bottos chain will pass the underlying code to the robot to optimize and rewrite. The ultimate goal of the first public chain of artificial intelligence. I believe that by 2025, humans no longer need to work. The machine is not only fully qualified for labor, but also the underlying code of the blockchain. In the future, the Bottos chain platform will be used to divide the value of machines and people. At that time, human intelligence will be You can explore the stars and explore the bigger unknowns.
Golden Finance: What do you think is the biggest value of the blockchain?
Li Xiang: Rather than saying that the blockchain creates new value, it is better to say that the blockchain will not be released from the statistical stock value. For example, each of us is generating massive amounts of data every day. When these data are securitized by the blockchain, everyone is Xiaolai Li. The digital economics of Bottos chain cognition is the use of blockchain technology to redistribute the productivity of the digital economy through data, algorithms, and computational power. The Bottos chain is positioned to carry the evolution of artificial intelligence using blockchain technology, and we must share Data asset securitization will bring huge value dividends. In the era of the Internet, data is centralized, and data obtained from users at no cost has created giant companies such as BAT. In the blockchain era, personal data will truly belong to individuals. Due to the popularity of 5G-promoted ubiquitous Internet of Things, the silent data of tera-sensors will be activated to generate new artificial intelligence, between individuals and individuals outside the BAT client. Obtaining the possibility of peer-to-peer direct sharing of data, we do not need to snatch data from Internet packets, but exchange data directly from the bottom of the sensor through the Internet of Everything. The exchange and superposition of data and data has spawned the spiral evolution of algorithms and computational forces, and then returns the generated value to the individuals of the data source. We can see that the platform built by the Bottos chain carries the closed-loop value of data, algorithms and computing power in the machine civilization. Artificial intelligence is one of the few blockchain fields that can construct an all-digital closed loop. Artificial intelligence is also the only way to bypass Taobao WeChat. This is the value chain of the centralized application, which is the original intention of the Bottos chain to locate artificial intelligence. In the field of artificial intelligence, the main source of value of Keda Xunfei and Shangtang Technology is the free data source provided by millions of users. We can imagine that the market value of the two companies will be divided into millions of users, and the per capita capital will be renewed. Assigning the scene, this is the mission of the Bottos chain.
Golden Finance: How do you see the relationship between artificial intelligence and blockchain now?
Li Xiang: Artificial intelligence is productivity, blockchain is production relations, productivity is that I can destroy you, production relationship is that I can’t directly destroy you, but I can offer the best person to destroy. Productivity creates value, and production relations drive productivity, so they are complementary and can be understood as the poles of Tai Chi. So how many blockchains in the future will have a lot of blockchains to help him achieve value, otherwise he can’t live alone because he didn’t make money. Suppose a developer researches an algorithm, including Bitcoin, which is an algorithm that requires a set of value chains to collaborate and a set of cross-organizational value exchange systems to support. Without a value chain and value mitigation, this algorithm cannot be separated. survive. We have restored this form of bitcoin to countless entrepreneurs, technology workers, man-machine warriors, and data providers, so that they can make new money. Intelligent hardware far exceeds the commercial value of traditional hardware. It comes from its semi-soft and semi-hard features. The soft part can not only capture hard information, perform edge calculation, but also self-purify to rewrite the working mode of hardware. We can simply Understood as a line upgrade on Apple phones. But traditional hardware, it is only hard and not soft, his data is wasted, and he can’t self-evolve. So, the combination of soft and hard is a new life state of the new life, which is the basic unit of machine civilization. Everything in the future is soft and hard, it generates data, and the hardware becomes a living body. This kind of living body will evolve from industrial civilization to machine civilization if it evolves from industrial civilization to machine civilization if it evolves into machines that build machines and machines that write programs (we are writing artificial contracts directly with artificial intelligence).
Golden Finance: What difficulties and challenges did Bottos encounter from its inception to the present, and which pits have been crossed?
Li Xiang: From 2017 to 2019, we have experienced some minor storms. In general, it is a challenge all the way, but in the end, it will turn into a growing nectar. The first is the cognitive challenge. We are a revolutionary platform. Therefore, we advocate the spirit of geeks. Only by breaking through the cognition can we change the world. We believe that the artificial intelligence + blockchain can rewrite human civilization. The future is the age of machine civilization. Everyone is worth the money. It can support countless robots. At the same time, everyone is very profitable because he participates in and shares the feast of machine civilization. This is a huge bonus that the Bottos chain hopes to excavate. Secondly, the technical challenge, blockchain + AI is extremely brain-burning, when black technology encounters black technology, if there is no deep understanding of the two industries, there is no great courage and determination, this double track It is very difficult to do it. Finally, there are challenges in the quality of the team. In the process of project development, there will always be a low point. When there are pressures from all sides, there are new people joining the old people on the road, how the core team keeps the initial heart and the front, I think it is the project. The core factor that can ultimately achieve the goal.
Golden Finance: What is the possible type or industry of DAPP in the future Bottos chain?
Li Xiang: Focusing on data and sensor algorithms, there are many application scenarios, such as travel scenarios, smart home scenarios, car networking scenarios, and then there are a large number of scenarios on the mobile side, or reversed according to value, as long as it can correspond to a billion-dollar The centralized enterprise, we all have the possibility to create a mechanism to take back. At present, artificial intelligence has begun to erupt from visual hearing, such as Keda Xunfei and Shangtang Technology, which have begun to gain a lot of application value. The reason is that the standard of the Turing test is to let the machine have the ability to talk with people. This ability comes first from simulating human perception. The meaning of the sensor is to digitally simulate the five senses of people and generate massive data. So now we see that artificial intelligence breaks through from hearing and vision first, because human sensors and radios are the crystallization of human sensors that are close to a hundred years of development, and the sensors of touch, smell and taste need to evolve gradually. . With five senses, we also need to think about thinking. Google’s man-machine war is the application of thinking. With thinking and driving feedback, Google’s Boston Power Robot is the application that drives feedback. Google is a monument to artificial intelligence, its valuation is more than 800 billion US dollars, and countless Keda Xunfei in the world are catching up with speed. It is conceivable that the Bottos chain stands at a dawn moment when a great era is about to open. We not only hope to remind the birth of countless Google, but also hope that these “new Google” will repay the millions of wealth of Xiaolai Li. If you aren’t already in our group, please join now! https://t.me/bottosofficial Bottos Website | Twitter |Facebook | Telegram
How Important the cross-Chain Technology is? Even Vitalik didn’t Think of The distance from my heart to yours, is one affectionate confession; The distance from Earth to moon, is a spaceship; The distance from CCB to ICBC, is the liquidation system of central bank; The distance from private company to a public one, is an IPO; The furthest distance in this world, is not the distance betweenImtokenandKcash, but when I’m using this chain with you on the other one…… What will it take to migrate or transfer from ETH To EOS? How do we reach from Ethereum to EOS with our assets? The answer is cross-chain technology. Current cross chain technology can deal with the former question, but the conversion of assets defined in one chain to another, that’s a whole new level of difficulty…… https://preview.redd.it/x0rcg9b2zny11.png?width=801&format=png&auto=webp&s=9718861e69bf37af3575ed4c1684cfdc0163cb14 There are different ways of storing and recording information between different chains, so how do we get across ‘the distance’? 2018 saw major contributions in the blockchain technology. With the emergence of a great number of public chains and consortium chains, this may be good news for the industry, but for Dapp developers, the choice of the right public chain has become an important issue. There are aspects like RAM cost, resource cost etc with free-to transact chains which makes the decision of the right chain for a Dapp a difficult one. In the traditional software world, there are alternate migration plans and upgrade paths available. In the case of the public blockchains forks causing change in behaviors, termination of chains itself etc are possible. Once the selected public chain comes to a premature end, Dapp developers are confronted with the problem of how to migrate the historical information and data form one chain to another. ‘Unlike a company relocation, only a van is needed to move from one place to another, The Dapp’s data migration needs more than a van, it requires a convenient and secure cross-chain technology.’ So, says Charlie, the founder of the UINP cross-chain project. Application Implementation, Chain Interconnection The transfer and management of cross-chain value is an important reason for the emergence of cross-chain technology. Of course, cross-chain technology is not limited to the realization of digital asset transfer and exchange, but also includes more extensive chain-link communication, information interaction and intelligent contract migration. In addition, without affecting the internal network of each public chain, the cross-link technology should be able to achieve a zero-commission cross-link, while ensuring security and transaction efficiency. So far, different public chains are like isolated islands of information. The new Dapp developers hope to get more technical and resource support from the numerous public chains, and the cooperation between different public chains, consortium chains and private chains is also expected to be achieved through some kind of agreement to realize the multi-chain interconnection. At present, most people’s expectation of cross-chain technology is more about the transfer of assets, which is also an important issue for UINP to solve, including the transfer and management of assets of Dapp in the fields of finance, transaction and wallet. It is well known that exchange is the most effective way to transfer assets across the chain, but exchange is a centralized place which is an obvious target for the hackers to attack and most of exchanges can’t make sure the safety of transaction. https://preview.redd.it/9dscrub7zny11.png?width=801&format=png&auto=webp&s=93cf62e5a74fc7e5ca57301d8c87fc3abfc5acb8 Current cross-chain solutions in blockchain industry There are currently four mainstream cross-chain technologies in the market: Notary schemes, Sidechains/relays, Hash-locking and Distributed private key control. https://preview.redd.it/493c82w8zny11.png?width=801&format=png&auto=webp&s=b4906384cd7cf3a8aeb252e5d2be9b451bf49498 1.Notary schemes’ mechanism: a third-party was selected to witness and record the assets transformation between chain A and B;
Sidechains/relays: it focusses on the events and states of main chain / connected chains by side chain / relay;
3.Hash-locking: a method locking the hash for a period for implementation of bidirectional payment; 4.Distributed private key control: it refers to that all kinds of cryptographic financial assets are controlled by private key and require multiple triggers to complete the asset transformation. https://preview.redd.it/en6f6hbazny11.png?width=677&format=png&auto=webp&s=cb90295cd5d8e9f933fae3d44044eb059dfafd75 There are seven common consensus mechanisms, as shown in the figure above. Due to the different consensus mechanisms, chain structures and economic systems, it is difficult to communicate among chains, and there are still many bottlenecks in the development of cross-chain technology. UINP will adopt a new cross-chain technology, dedicated to solving the problems encountered in the cross-chain project and promoting the iteration of cross-chain technology. https://preview.redd.it/56bzxhobzny11.png?width=801&format=png&auto=webp&s=f0880286d6e4cbf6f1928f0b7258309f0a2a64af UINP — seamless cross chain integration & interoperability As the world’s first decentralized cross-chain protocol on transport layer, UINP creates a cross-chain transmission，self-increment and self-decrement cross-chain mechanism, build a natural connection for different chain networks and promote the establishment of a broader blockchain Internet network. UINP cross-chain network will realize decentralized cross-chain assets transformation and be compatible with different blockchain structures and multiple public chains to facilitate the asset management and exchange of Dapp users. In addition to the asset management of digital currency, UINP can also facilitate the transfer of value information in the whole chain ecology, realize the information and data interconnection between public chains, consortium chains and private chains, assist Dapp in data migration across public chain, connect the island of cross-chain data, and build a real inter-chain network of blockchain. Technical features of UINP: cross-chain transmission，self-increment and self-decrement Current cross-chain technologies are relatively centralized because they are unable to cross multiple public chains simultaneously and require cross-chain support from a third chain. While UINP is completely decentralized. Through Quantum entanglement and perceptive hash algorithms, UINP’s observer chain can realize the data migration between two different public chains on application layer, that’s called ‘cross-chain transmission’. Technical features of UINP: all-asset cross-chain transaction The cross-chain requirements of Dapp include not only the exchange and migration of assets, but also the transfer of information, data and value It is difficult for Dapp developers to achieve the migration of application and user information from one chain to another without changing the original chain structure, just like different organisms with different genes arrangement are difficult to communicate with each other. There are four types of paradigm transformation of digital assets in UINP: P2P, A2A, A2P, P2A (P refers to the prevalence, A refers to the assets), creating Dapp assets cross-chain trading system. Technical feature of UINP: Atomic cross-chain technique Due to the different consensus mechanism among different public chains, miners have different ways of bookkeeping, which affects the difficulty and cost of crossing the chain. Most of current cross-chain technology uses blocks as the unit for accounting, while UINP adopts the POU consensus mechanism (the three-layer composite consensus mechanism -pos/pov/s-dpos) to realize atomic bookkeeping, that is, taking transactions as the unit. Dapp developers and users do not have to wait for a transaction to reach a full accounting block before transferring assets, but each transaction can be transferred across the chain in real time. Technical feature of UINP: compatible with chains of different structures Different public chains have different structures, such as Bitcoin and Ethereum as the block structure, while IOTA and Nano are the chains with DAG structure. The application layer protocol of UINP will carry out the paradigm transformation for the public chains with different structures through an observer chain, and each atomic transaction of Dapp will enter the destination network, so as to help developers to cross the chain with different structures. https://preview.redd.it/eskz963ezny11.png?width=700&format=png&auto=webp&s=733be0979bd10f5cb2e25c97c59331a7c71343a0 Technical feature of UINP: compatible with the Internet information set This means that UINP is compatible with the information communication mechanism off-chain, and it breaks the data isolation between the blockchain network and the traditional Internet network. That is to say, the real-time bookkeeping of Ethereum can be synchronized with the payment information in Alipay if one day Taobao shop allows buyers purchase goods by ETH through UINP cross-chain protocol. The application layer protocol of UINP contains Information set, transport layer protocol of TCP protocols, and has the features of 0RTT, optimized congestion control, and transport layer TLS security, etc. It supports HTTP2, which can perfectly realize the synchronization and interaction of Information on and off the chain. Global cross-chain technical community With the mechanism of self-increment & self-decrement and automatic tracking & connection between nodes, UINP will break the inter-chain barrier and realize the interoperability of assets, information and data between different chains at the transport layer, finalize a dynamic adjustment, interconnected chain ecosystem. In the future, UINP will realize a global cross-chain technology ecological community connecting various community systems. The UINP foundation will cooperate with universities to establish communities, with the mission of integrating quality scientific research and strategic cooperation with colleges and universities at home and abroad. We envision creating blockchain Labs promoting research and drive result oriented cross-chain technical research. UINP will also cooperate with various distributed technical and leisure communities, and regularly co-hold cross-chain technical community activities and forums. Blockchain technology is still in its infancy. Communication and cooperation between different blockchain projects can complement each other’s advantages and create the greatest value in the open source way. UINP is willing to undertake this historic mission, accelerate the trans-chain technology upgrades and iterations, and explore the future of blockchain with the global technical peers. In addition, UINP will also build public chain alliances to facilitate the realization of cross-chain protocols. UINP currently has carried out in-depth cooperation with Qtum, Dfinity, TRON and EOS, and jointly explored the future of cross-chain in terms of both technology and application, and promoted the promotion and implementation of UINP’s cross-chain technology in the global market. At present, UINP has raised joint investment from Qidian capital, IDG, Liaode capital and Genesis capital. UINP will be committed to building the Internet of blockchain networks, realize the interchain communication, promote fast and sustainable development of Dapps. We determined to become the leader of cross-chain technology and the pioneer in the Internet of value. https://preview.redd.it/9rysfnvfzny11.png?width=801&format=png&auto=webp&s=7a78c7a9235358b34c3927f1ae977e5a09b11b2d you can find more about us on our website:UINP you can also reach us through following channels: ✅Facebook ✅Twitter ✅ Telegram ✅LinkedIn ✅YouTube✅ discord
This thread is for all non-QC related questions. We’ll do our best to respond to all your inquiries!
Can you describe the order process from start to finish? It can be intimidating ordering reps for the first time, so we'd like to make the process as transparent as possible.
Check our website http://www.muks-store.com for the style and size you would like to order. Our website is now our catalog of current offerings.
Register on the website and place an order via credit or debit card. For WU, Taobao, and DHGate orders, send us a message via e-mail or our website messaging system, including the style, size, and shipping destination.
If paying through WU, Taobao, or DHGate, we'll give you price quotes based on different shipping options to your country.
Checkout on the website or send payment through WU, Taobao, or DHGate. For the latter options, send us your name, mobile phone number, and shipping address and we'll begin to process your order.
You'll usually receive QC (quality check) photos 48 hours after payment is confirmed. For Western Union orders or orders through agents, payment confirmation can take time. Stock shortages will also delay QC photos.
We'll provide a tracking number once we receive it; this can sometimes take a couple of days. For example, DHL will give us a tracking number once your package reaches Hong Kong, which can take a couple of days from Putian.
What forms of alternative payment do you accept? We accept the following payment options: Western Union, Taobao payment (no store, just payment), DHGate (no store, just payment), or bank transfer. We unfortunately don't accept bitcoin or Paypal at this time.
Hello? Why am I not getting a response?
It's nighttime in China and we're asleep.
We're working through our messages one by one, and it may take some time to get to yours. We're a very small, rag-tag operation, so we appreciate you guys being so patient with us.
It's been 3 days, why haven't I received QC photos yet?
It's a Chinese holiday such as CNY, and staff are on break. We accumulate a backlog during these periods, so we may also still be working through that.
The shoe may not be in stock. This is usually the case after major holidays when the factories suspend operations.
We could not confirm payment. This usually happens with Western Union or if you buy through an agent. Sometimes Western Union will tell you we have picked up the order, when in actuality we are unable to do so; in this situation, please contact Western Union and your money will be refunded. If you purchase through an agent, sometimes they will take 24 hours or more to actually pay us, even though they've flagged your order as "paid" in their system.
Why isn't my tracking number working/why haven't I received a tracking number yet?
It may take a day or two after shipping for your number to become active.
For DHL, we first receive a temporary tracking number as the package ships to Hong Kong. This number will not work, so we don't send it to you. Once the package reaches Hong Kong (usually 2-3 days), DHL will send a functional tracking number to your mobile phone. If this does not happen after 3 days, you can contact us for the number.
Why do refunds take so long to process? We actually submit your refund request fairly quickly, within a day in most cases. But after we submit a refund request to our payment processor, it's out of our hands. The payment processor - > credit card network - > banks then have to pass the request through their own internal checklists, which takes time. This is especially slow for international transactions. See an in depth explanation of how it works here.
Rest assured, we’re not trying to scam you—our reputation is far too important to risk for a couple hundred bucks. If this situation arises, we'll sort it out for you.
What is BASF? What is the difference between BASF and Real Boost? BASF (Badische Anilin und Soda Fabrik) is the German chemical producer that supplies Adidas with the material used in their Ultra Boost midsoles.
In the context of reps, BASF denotes a type of boost material distinct from Real Boost and Fake Boost. It is, as far as we know, only a marketing term, and not material actually sourced from its namesake. Some claim that BASF is closer to retail boost, both visually and in terms of comfort. It is true that BASF is generally shinier, and has larger and more prominent boost pellets. However, we find that for a given style, the main differences between the BASF and Real Boost version lie not in the midsole--they mainly manifest elsewhere in the shoe. Cage color or knit pattern may be different, for example, or the shape of the toe may be more or less more upturned. The BASF version is generally made to a higher standard. That said, if you don't have the shoes side by side, you likely won't notice the difference.
Why can't you double box certain shoes when shipping via DHL? For shoes with larger boxes such as V2s, double boxing causes the package to exceed the dimension specifications for DHL, bumping shipping calculations into the "volumetric weight" bracket. DHL has a plastic bag that they use to test the size of packages; if it fits in the bag they go by weight, and if not they go by volumetric weight. Going by volumetric weight usually brings the shipping total from 25 USD to 40 USD. This is because volumetric weight is calculated using the formula lengthwidthheight/5000, resulting in a figure much higher than the actual weight of the package. Because of this, we do not double box shoes with larger boxes when shipping via DHL. We have no problem double boxing, however, if the customer accepts the additional shipping charge.
188 RMB. Shipped using EMS as part of a 1.6kg haul which was approx $42 AUD and $4.97 AUD for rehearsal shipping. And a few dollars went towards a tip to the agent.
Ordered: 29 August
Arrived at SuperBuy: 3 September
(Was waiting for a pair of Vans and BLACKPINK merch, to arrive at my warehouse before shipping the haul\*******)*
Shipped from warehouse: 7 September
Arrived in Melbourne/Tasmania: 10 September
Received in Sydney: 12 September
This took a while for EMS compared to my past hauls but no complaints here because it only took 2 days longer than it usually takes. However I wanted to note it seems using an AusPost parcel locker followed a different route to what happens when I use my home address. I live in nothern Sydney and the domestic route usually is: ends up in the international clearance centre about 25km away from me gets sent to a local distribution facility ends up in my lap about half a day later. This time around though it went to Melbourne for clearance, then to Tasmania to sit and chill, and then finally to my loving arms (or just my left arm, in this case). TL;DR: this package travelled a further 1500km more than my EMS packages from TS usually do. I’ll keep experimenting with parcel lockers and let you Aussie ladies know how it goes (unlike my regular orders from The Iconic, I probably shouldn’t get cheeky counterfeits delivered to my work address)
-1: As an Aussie RL member, SuperBuy charging in USD instead of CNY means I go through two currency conversions: CNY > USD (on SuperBuy’s exchange rate) and then USD > AUD (on my credit card or Paypal’s exchange rate) every time I purchase an item. Unfortunately no way around this AFAIK. -0.5: I have bought two bands from this TB seller through SuperBuy (one still in warehouse), and both times they have messaged me to say it’s an incorrect size because the band itself isn’t 42mm long (38mm / 42mm / 40mm / 44mm refers to the Apple Watch screen size, not the width of the actual watch). The first time I thought this was going above and beyond from SuperBuy’s part, which I appreciated, but now they’ve asked again I’m assuming they’re going to do this every time I order. This item is low-key popping off on Reddit so I’m hoping they’ll learn and won’t make this an additional step for everyone ordering.
Locks right into the Apple Watch perfectly and as good as their official bands. There’s no fear of my watch going flying like on the cheap Amazon/eBay third party bands. -2: This “leather” may as well be sandpaper compared to the buttery smooth feel of the auth. That’s probably a bad analogy – it’s perfectly fine for wear (as long as you’re not using it at the gym of course), comfy enough and not irritating to the skin in the slightest. Here's a better analogy: the quality of the “leather” (not entirely sure what the material is tbh) would be low/mid-tier DHGate rep as opposed to what we’d be getting from a high-end TS.
The colour and stitching are on point compared to the product shots on Apple’s website. I can only report on the single tour orange band I bought, but there are a couple of reviewer’s shots in the review section of the listing on TB of the traditional brown one too. No idea how good the double tour one is. It doesn’t come with a branded box but I’m not deducting a point for that because it meant I could ask SuperBuy to chuck it out and save on shipping. -1: Hermes logo is engraved on auth, on this rep it’s just printed. But there’s no way for anyone to tell unless they’re studying your wrist extremely closely. -0.5: The leather being different to the auth is not an immediate giveaway. This rep fooled a friend who works at Apple until he looked closer and felt the leather.
The seller was very prompt to respond to SuperBuy’s request for exchange (at first when SuperBuy informed me that the seller sent me the wrong size, I thought they meant the seller sent me the 38mm instead of the 42mm, so I filed for an exchange). The seller replied to SuperBuy and within a day I was told no exchange was required because the watch band was the right size for me.
Definitely my best TB purchase thus far into my one month RL career. Can’t go wrong with this if you don’t mind the mid-tier DHGate-level materials used. A friend who is generally a bit snobby towards reps was impressed by this and is gonna make an exception and wants me to order them one! It would be a dream for a high-end rep one day (especially of the new bands they've just announced) but I'm thrilled to have this to spice up my watch band rotation.
I live several years in Asia and speak Chinese. Here is my stand: Btc is legal in China, there are a lot of shops accepting it right now. We need to dig deeper
Like all you I was puzzled by opposite opinions - some people say shops can't take btc for products, others say they can, only banks can't deal with it. Finally Bobby Lee hammered us with his insider opinion and now 95% of the people are convinced that btc is banned and the only thing you can do in China is to buy it on an exchange. But actually the Regulation Notice said: the general public have the freedom to participate in Bitcoin trading as a commodity trading on the internet on the condition they carry their own risk.. So who is right? First of all in China things are not always black and white and there are a lot of groups in the government, some of them want to tighten things up, some want to open up to western influence (remeber Deng Xiaoping?). So why did China Telecom and Baidu started accepting bitcoin in the first place? It was cool, and also you can see it every day in newspapers and on TV, and don't forget that mass media is controlled by the govt. So it was a signal: It's Ok to do it, nobody objects. So China telecom started using www.bitbill.com and Baidu just published a bitcoin address. After the Regulation Notice came out, China Telecom had to shut down the bitcoin payments because the Notice quite clearly said that websites that provide Bitcoin services like registration, trading etc should register with the telecommunications regulation authorities and www.bitbill.com doesn't have such registration. And Baidu said they are stopping accepting bitcoins because of price fluctuation ;). What about the others? They are fine! There are hundreds of products on taobao that you can buy with bitcoin! Just search for 支持比特币 (support bitcoin). Check out this piece of Japanese ass But then why not thousands? Because actually Chinese have alipay which is a kick-ass virtual money, when using it people get customer protection, I am sure they pay no more than 1% fee. So let's be honest: Chinese don't have much incentive to use bitcoin inside the country unless you are buying a plastic ass and want to do it anonimousely. Actually If paypal would charge me 1% instead of 9%, bitcoin wouldn't be so attractive. What about Bobby Lee? Why did he say what he said? As you might remember Bobby Lee just ate 5 million $ and suddenly Regulation Notice comes out and most of the people pause their activity. Just imagine what his situation can be: he convinced people to invest based on very sunny future in China, including the news about China telecom and Baidu. I can't be sure, but I would say it's quite typical to blame some external factors in such a situation rather than face the reality that average Chinese consumer doesn't get much benefits when buying something inside the country and this was just a hype and fad. It is much easier to say - everything was so well but now the government banned everything. What about the insane volumes on btcchina? 150,000 BTC per day, 4 times more than MtGox!!. Where do all these bitcoin go?? I have two versions here, may be they are both effective:
volumes can be easily bloated. I mean the simplicity of this is out of questions with 0% (even if they had 10% commission, it is still easy)
this volume goes to service black export/import and may be this is the reason that the government started to come in. I can say that Chinese are not the people you will have to convince to try something cool. They will try it in millions. So if there is a benefit of using bitcoin for export/import, you can be assured that it will spread like a wildfire.
Can somebody confirm does http://www.igeak.com still accepts bitcoin? enjoy ;) Edit: some urls and grammar
LendChain: New Financial Services Platform In The Blockchain Era.
https://preview.redd.it/st91xgxuzpk11.png?width=1800&format=png&auto=webp&s=bde70af8550e6b1b73ce8ebf30d7c8531eb8d0a0 The blockchain is going to land. There are two areas that are currently the fastest. One is the game and the other is finance. The blockchain finance is also a completely different species from traditional financial or internet finance. Based on the interest in blockchain landing, Blue Fox notes have been very interested in finance in the blockchain field. I have also seen many blockchain financial projects such as Saltlending, ETHlend, Jibrel, DCC, Ripo, Nexo, etc. ETHlend has lent more than 15,000 ETH in the last few months; Saltlending has a valuation of more than $200 million. Ranked among the top 30 in the blockchain digital asset rankings. These all show the potential of blockchain financial services projects. Logically, based on blockchain technology, financial services data can be transparent and open, and peer-to-peer services can be operated on a smart contract. Both traditional financial and Internet finance have the potential to reduce the impact. However, to truly land, it is still inseparable from the risk control system, especially credit loans, and good risk control is still the core competitiveness. After all, financial consideration is not only the income of assets, but also the security of assets. Needless to say, there will be more and more blockchain financial projects, just as Internet finance once appeared. Recently, Blue Fox notes focus on LendChain’s blockchain financial project, its model and the foundation it relies on, giving it a unique advantage. LendChain ‘s new finance The concept of new finance was preceded by the Internet compared to traditional finance. With the birth of blockchain technology, the blockchain-based finance has improved the level of development. The opportunities contained here will continue to be explored along with the blockchain project. A new innovation model has emerged, releasing new power. LendChain’s goal is to become a decentralized digital asset financial services platform.Since the outbreak of the digital asset market in 2017, the entire market assets have climbed from less than 200 billion US dollars to the end of the year to 600 billion US dollars. Although the market is now entering a bear market, the overall market size is still more than 250 billion US dollars, and more importantly, At present, the number of currency-holding users has been greatly improved. The number of global ETH-holding users has reached more than 37 million, and the scale of more than 70,000 new addresses per day has been increasing. According to this speed, the number of currency-holding addresses will exceed 50 million at the end of the year, even considering A person has multiple addresses and goes to a larger part. The overall user size is also very impressive. Moreover, a large number of Bitcoin users are not counted here. More important blockchain projects are more and more, although it is currently a bear market, but it has not affected more people to participate. Almost every day, more than 10 projects are financing, and the blockchain market is slowing, but never Did not stop. With the birth of more and more landing projects, the demand for financial services on digital assets will increase as the management of digital assets. Although we see today that trading on the exchange is the main user scenario for the current digital asset market. However, as the market matures, there is an increasing demand for financial services such as digital currency investment, lending, insurance, and futures. For example, a user holding a digital asset token will urgently need a cash flow when he is in a bear market, but he is not willing to buy a token. At this time, the demand for borrowing appears. For example, users who make digital currency investments do not have ETH in their hands, but recently ETH prices fluctuate greatly. The investor can borrow ETH through USDT collateral, then sell ETH at the appropriate price, buy again when ETH price falls, and then repay Give investors, and thus gain. For those who are good at investing, more tokens can be used to increase the value of assets through borrowing. On the other hand, many digital asset holders who are committed to long-term investment can obtain stable income through lending by their own BTC or ETH. Through these financial products, some digital asset holders can get more benefits in volatile financial markets. In the real world scene, it has also been verified. On March 27, 2018, Block City app launched a wealth management service for the creation of the residents: the remaining money treasure, only a 15 seconds 30,000GXS quota was robbed. This fully shows that for users with digital token assets, there is a strong financial need, especially in the bear market, through the digital token wealth management services, you can get more tokens, which is the way to achieve asset appreciation. LendChain looks at its business plans, including digital token collaterals, credit lending, wealth management products, private equity funds, bonds and other financial products services. In the long run, LendChain will expand the field beyond the digital token. With the offline assetization, such as real estate, auto, equity, stocks, bonds, funds, futures, etc., LendChain’s distributed financial products service will put the tentacles Expand into more areas, and as the model matures, it can be extended across the globe to the world. From this perspective, LendChain is not only a lending service for digital tokens, but also a distributed digital asset financial service platform, which is based on the world. In essence, it is to connect the holders of digital assets and the demanders of digital assets directly point to point through the blockchain, so that both asset holders and demanders can meet their respective needs at a lower cost. Some people find suitable borrowers to realize the value-added income of assets; borrowers borrow more digital assets to achieve more liquidity and obtain higher asset returns. LendChain lets the business grow naturally The LendChain business has grown with the development of digital asset business. First of all, the founder of the team, Ayi, once served as a CMO in GXChain. From the business of GXChain, he also saw the demand for digital asset management and financing. These already strong demand have given the business a natural foundation. Although LendChain aims to become a financial platform for digital assets, from the beginning, not all financial business has been done, but the trend has come to the ground, so that business naturally occurs. At present, the most natural business in digital currency financial services is collateral lending. All financial products and services, whether traditional finance, internet finance or blockchain finance, have one thing in common from the perspective of model sustainability, namely risk control. Collateral loans based on digital currencies are relatively safe in terms of risk control. It is far easier to deliver than property collaterals such as real estate and automobiles, and has a lower risk than credit loans. It is a relatively perfect business model, which is also a unique financial model belonging to blockchain digital assets. LendChain starts with the most stable financial products with the lowest risk. Specifically, LendChain’s digital asset lending service refers to financing with digital asset tokens as collateral. LendChain’s entire lending process is executed through smart contracts, all of which are on-line, including the release of financing requirements, collateral asset lock-ups, borrowing targets, investment operations, repayments due, overdue delivery, etc. The process is transparent, open, and free of human operation, which can maximize the interests of investors and avoid the risk of the traditional centralized P2P Internet financial platform running. Moreover, the entire process does not need to upload various credit information as traditional Internet finance. After the upload, the platform has to carry out credit rating evaluation, determine the quota, and even have to conduct manual review. The lending process of the LendChain platform is simple. From the point of view of the borrower, it can be done with a simple operation. The first step is to verify identity and security. The second step is to create a collateral: the borrower recharges a certain amount of digital tokens as collateral. Currently supports BTC, ETH, GXS, etc. The third step is to issue the loan target: enter the loan digital token (BTC, ETH, USDT, bitCNY, GXS, etc.), custom interest (the official will recommend a reasonable range), the term, etc. After the release, the collateral token is automatically locked. https://preview.redd.it/iq33rvyjzpk11.jpg?width=750&format=pjpg&auto=webp&s=07dfdafc409fd3b9f49b1e41e02359ee1af7cfc1 If the loan target is 100% raised within 24 hours, the loan will take effect. If the price is not 100%, or the price of the collateral token falls by more than 20% within 24 hours, the target will automatically expire. After the loan is successful, it will be returned after the expiration. From the perspective of investors, the investment process is also very simple. Investors also need only three steps, the first step is to log in to the LendChain platform; the second step is to choose the investment target: choose their own investment target according to different interest rates, deadlines, and token types. The third step is to recharge and apply: recharge the required digital tokens for the selected target, and finally submit the application. If the investment target is fully funded within 24 hours, the investment will take effect and the investor will receive the principal and interest after the expiration. When the borrower expires, the digital token and interest of the loan will be automatically returned. If the overdue period occurs, the investor will receive the overdue fee in addition to the original interest income after the borrower finally repays the loan. In this lending model of digital assets, the key to risk control is collateral, but the digital tokens as collateral have price fluctuations themselves. How to design collateral rates? If the collateral assets plunged, how can we guarantee the interests of investors? In order to control the risk, LendChain sets a new user’s collateral rate of 50%, that is, if you are a new user, you have a BTC worth 10,000 USD, then you can only borrow USDT, bitCNY, ETH, etc. worth 5,000 USD. At present, on the ETHlend, the loan token cannot exceed 65% of the value of the collateral token, which is relatively loose on the risk control. Of course, LendChain will float on the collateral rate based on the user’s credit history. The credit history mainly comes from the user’s previous loan records, as well as credit data based on public credit, etc., depending on the credit rating, there will be different collaterals. rate. Due to the huge volatility of digital tokens, once the plunge, the collateral rate is not enough to protect the interests of investors, this involves the closing mechanism of collateral assets. LendChain evaluates the collateral assets of each loan and sets up a warning line (70%) and a level (50%). Once the collateral token reaches the warning line, the system will prompt the lender to increase the collateral and meet the collateral rate requirements to avoid being closed. If the collateral token assets reach the liquidation line, the platform will deliver the collateral assets, and the locked collateral currency will be transferred to the investor’s account. Of course, due to market fluctuations, the collateral of the lender is delivered and the credit taint will not be generated. In order to make the collateral lending process simple, LendChain manages collateral assets through smart contracts, docks with mainstream exchanges, and obtains collateral digital asset prices in real time to control risk. Once the liquidation line is reached, the smart contract will automatically deliver the digital assets of the collateral. In addition to the liquidation caused by the collapse, there is also a situation in which the collateral assets are delivered, that is, when the user reaches the limit after the deadline, the current set period is one week. Remind the loan several times during the week and still not return the loan on time. The LendChain platform first deducts the overdue fee and then delivers the collateral, and the overdue record will be chained, which will affect the user’s credit rating. In the end, due to the existence of collateral assets, the collateral rate is 50%, and if the user does not return the loan after the deadline, the investor will not face the risk of capital. LendChain also gives users more choices in terms of the currency and interest rate of the loan. The interest rate is set by the borrower, but the platform itself will set the interest rate range to ensure the interests of investors. In the early period, LendChain opened the products with daily interest, and the borrowed and returned coins must be the same token. If an overdue period occurs, it involves overdue fees, and it also involves credit stains, which will be on the chain. The overdue fee is currently the daily principal* interest rate*2.If you repay in advance, you will need to pay the loan principal, interest, and default handling fee (50% of the total interest on the remaining days). In addition to collateral lending, LendChain will gradually step into the credit loan of digital assets as the user’s loan record increases and through the help of the public credit credit record. In the traditional Internet financial credit loan, the risk control process is complicated. From the user experience, especially the experience of borrowing users is not very good. Not only is the process complex, but privacy is not protected. LendChain’s entry into the credit lending field also naturally grows with the development of the business. First, it has generated the user’s credit history with its collateral lending. Second, it has a partner’s public letter, and LendChain plans to connect with the GXChain public chain. The real name data of the public letter treasure is opened. Based on this data, the LendChain team can build a wind-based model based on big data, which can realize the credit evaluation of users and provide small-value digital token credit loans with different credits and deadlines for users with different credit ratings. Although credit loans are more risky, they can also bring more business volume. The bad debt rate is also inevitable. However, as long as the risk ratio is controlled, the entire business model has the opportunity to develop. More importantly, the scale of credit lending will be relatively large. The core competitiveness here is risk management. In addition to the lending business, LendChain also has wealth management products for currency users. For many money-holding users, especially for those who have a strong demand for stable income, instead of putting the token in the wallet, it is better to obtain higher income through financial management. In addition to the above mentioned financial indicators for providing collateral lending and credit lending to investors, LendChain also offers diversified wealth management products to investors who meet different income and risk preferences. These wealth management products include quantitative funds, private equity funds, mine projects, large customer collateral market-making projects, and bonds. For example, private equity funds, LendChain cooperates with high-quality private equity funds. By dividing the share into multiple shares, ordinary investors can participate in the investment of high-quality private equity funds to obtain higher returns from early investment. At the same time, in order to meet the liquidity, the income right of wealth management products can be transferred. https://preview.redd.it/kxp07bxnzpk11.jpg?width=750&format=pjpg&auto=webp&s=06fd69c357f1cbee60d468f5b6ade5bd58718fbc Another example is the financial management of bonds, which also has the opportunity to become a way to follow-up financing of blockchain projects. Bonds in the financial market far exceed the securities market. If, in the future, a mainstream blockchain project, for business development, it needs to raise 100,000ETH to expand its business. Then, it can initiate bond financing on LendChain, and the project can be guaranteed with certain tokens and other collateral, which has increased investor confidence. Investors can also transfer bonds to obtain the liquidity of assets. LendChain lets distributed platforms expand its imagination One of the most important reasons why LendChain is new finance is that it is based on a distributed financial services platform. First, it has changed the drawbacks of traditional financial platforms, including the centralization of Internet financial platforms. The second is that it works with other platforms to make distributed financial products services ubiquitous. Let’s first look at the distributed features that bring it to life. LendChain can solve many of the shortcomings of the centralization of traditional financial and Internet financial platforms by decentralizing distributed financial service platforms. In terms of loans, loans were mainly collateral loans before the 18th century. Today, credit loans have become very popular. For example, through FICO’s risk assessment, Internet finance has made full use of big data and artificial intelligence technology to develop a new credit decision-making system. It has been making progress and indeed promotes the popularization of credit lending. Financial significance, but the centralization operation is still problematic. For example, the authenticity of data is difficult to distinguish. The data of third-party organizations is not completely credible; the data has islands, different user data is in different systems, the cost of information verification is high, the borrower borrows on different credit platforms, the data between the platforms is not shared, and it is impossible to grasp whether the user is There are long-term loans; in terms of privacy, there is no guarantee. In order to obtain loans, users are authorized to use the Internet lending platform to crawl their own mailboxes with credit card consumption records, climb payment purchase records, Taobao shopping records, and climb call records. These data include individuals. Name, phone number, address, consumption record, call history, and even which restaurant to go to eat at any day, in which hotel to spend, spend a lot of money, are clear. These privacy-related data, although desensitized, may be compromised due to the centralization of the server, and there may be internal employees stealing user data. In this case, user privacy is almost impossible to obtain any guarantee. In an era of increasing emphasis on privacy and security, in the long run, this Internet financial credit model is not sustainable. In addition, centralized credit has a deep contradiction that cannot be solved by itself. This contradiction is that its cost, efficiency, and distribution of benefits are unreasonable. Cost includes bad debt cost and operating cost, specifically, the cost of not paying back, risk assessment cost, customer cost, and collection cost. These traffic costs, risk control costs and bad debt costs are ultimately collected by the borrower. The cost will work. This means that there are really more costs for the creditors. In terms of efficiency, in order to verify user identity, credit history, loan records, etc., it is necessary to borrow a large number of loan intermediaries and other services, which is inefficient and costly. Finally, the issue of interest distribution, with the Internet lending platform and other intermediaries grasping more and more user data and loan records, has more information monopoly ability, resulting in some institutional violence, and even annualized interest rates of more than 100%, more The annualized interest rate of micro-finance has exceeded 300%, which is very unreasonable. The best way to solve the problem of traditional financial intermediaries or Internet lending platforms is the decentralization model of the blockchain. Blockchain can solve the problem of data monopoly, allowing data ownership and control to return to users. Allowing the intermediary platform to achieve premium profits through monopoly data. The middle part is removed through the blockchain area, and the price is more reasonable according to the market price through the smart contract, which is more reasonable for the lender and the borrower. The problem of personal privacy data leakage and being bought and sold by the platform can also be solved through the decentralized storage system of the blockchain. In general, through the decentralized model, many drawbacks of traditional financial institutions and Internet credit lending platforms can be reshaped, and the new financial model of blockchain can be promoted. LendChain can build a financial service platform that meets the needs of different users through blockchain technology. Second, LendChain will leverage the power of other platforms to grow its business together. LendChain’s own platform provides multi-terminal services, including PC, H5, WeChat, IOS and Android phones. LendChain will make full use of the advantages of the public letter platform, and its blockchain is based on the GXChain public chain development to achieve data access. All loans will be chained, allowing users to increase their credit data. In order to bring financial products and services to the forefront as soon as possible, LendChain will also develop Dapp based on the GXChain public chain, such as real-name authentication system, user credit rating system, distributed P2P lending platform, collateral digital asset management system, Token contract and so on. These applications have accumulated a lot of valuable data for the follow-up business. LendChain’s token is LVCOIN and is also based on GXChain. LVCOIN tokens are mainly used for handling fees, VIP membership fees, voting coins, and financing collaterals. The handling fee means that the user needs to support a certain percentage of the service fee when using the LendChain platform business, and the discount is obtained when using the LVCOIN payment. For example, if a user uses a 10BTC loan 5BTC, the user needs to deduct a 0.05BTC fee. If paying with LVCOIN, he only needs to pay an equivalent fee of 0.025BTC. The user purchases a VIP member by paying a certain amount of LVCOIN. The VIP member is mainly a user who invests in a large amount of assets. For example, the asset to be invested can be locked, and the interest rate and amount can be set. If the system meets the requirements, the priority will be given. VIP members grab the bid. Voting on the currency means that the user decides to add the token with the LVCOIN token, and the new token can be used for lending, wealth management and other services.Finally, in cooperation with investment institutions such as investment institutions, market makers, project parties, and exchanges, they also need to collateral mainstream tokens and LVCOIN for margin. In addition, LendChain also has a repurchase LVCOIN mechanism, which will use 20% of the income in the quarter for repurchase and destruction, which can be queried through the blockchain browser. Finally, in order to allow more platforms to take advantage of LendChain’s services, all platforms can access LendChain through the API to obtain a variety of financial products and services to achieve a win-win situation. A few days ago, Blue Fox notes that LendChain landed on the Bitpie Wallet App, which means that Bitpie users can also enjoy LendChain’s collateral products, money management and other financial products and services. In the end, LendChain will open source, turning LendChain into a decentralized platform, enabling all assets to be implemented through smart contracts, enabling a fully self-running financial services platform. Conclusion The combination of finance and blockchain brings us more possibilities. Through decentralization, we can be more transparent and open through the way credit is recorded in the chain. At the same time, the financial system of digital assets itself will generate new models, such as the collateral lending of digital assets themselves, which are different from traditional financial models. As the new financial exploration of the blockchain deepens, more models will be invented. LendChain has its own unique foundations and advantages in many new blockchain financial projects. It starts with digital asset collateral lending, allowing the business to naturally occur and grow, and the landing steps are clear. It cooperates deeply with GXChain. Based on the development of public trust chain, it can make full use of the data on the public trust chain, so that the subsequent credit lending and other businesses can develop rapidly. The team has many years of experience in the financial lending field, which makes it more grounded. Look forward to LendChain exploring more innovative models in the blockchain new finance.
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Battle Over Bitcoin: China Backs US Startup Coinbase And US Falls Behind In Virtual Currencies.
Indeed, virtual currencies are nothing new to the Chinese. For example, more than 100 million people on the social platform QQ have used the Q coin for more than 10 years. And after China’s state-run China Central Television, or CCTV, ran a half-hour-long documentary on bitcoins, downloads of apps for processing and “mining” bitcoins soared in the world’s second largest economy. Bitcoin, long the plaything of the Western ubernerd, now appears poised to grow substantially in China and other markets, like the euro zone, where government meddling in native currency valuations has left many distrustful of the money in their bank accounts. Americans don’t have this problem -- yet. And that may be a problem in itself. According to bitcoin proponents, if the U.S. tries to ignore the nascent currency, writing it off as a financial fad with less value than the seemingly stable dollar, Americans risk ceding to the Chinese and others control of the future of what could be the most disruptive force in monetary exchanges since the credit card. In turn, the dollar and the ability of the U.S. to navigate global currency conflicts could be seriously weakened. “Here’s the bottom line: Bitcoin has much higher popularity outside the U.S. and much higher potential outside the U.S.,” observed Andreas M. Antonopoulos of the Bitcoin Foundation. “If you go to an American and say, ‘Hey, there’s this new thing, bitcoin,’ they say, ‘Well, what’s wrong with the dollar?’ That question is different in other countries.” Bitcoins are a finite, Web-based currency created in 2009 by a group of hackers working under the nom-de-Internet Satoshi Nakamoto. Exactly 10,952,975 bitcoins are in circulation, all of which have been purchased on exchange networks or mined. The currency is mined using software that processes transactions on the bitcoin network, adding groups of transactions, called blocks, to the chain. Miners are paid about 25 bitcoins per block. That digital money can then be used to purchase a variety of goods online, from legitimate software to heroin on the infamous virtual black-market Silk Road. Bitcoin surged in value to $266 last month, thrusting the currency into the mainstream spotlight as investment poured in from sources as diverse as the hapless Brothers Winklevoss (of Facebook infamy) and Union Capital Ventures principal Fred Wilson (an early investor in Zynga, Twitter, and Kickstarter). Suddenly, everyone was talking about buying bitcoins. But the bubble burst in late April, and in the U.S. at least, bitcoin faded from the news. That was not the case in China, where Antonopoulos said downloads of bitcoin clients have eclipsed those in the U.S. Bitcoins are mined in several steps. After downloading a bitcoin client, such as Coinbase (which serves as a wallet in which to store the bits of code that constitute the digital money), miners often join pools where they share computing power to decode algorithms in which bitcoins are hidden. The concept of bitcoins and bitcoin mining is cryptic for many people, even some otherwise forward-thinking American investors. The irony is that, for now, American startups are leading the bitcoin charge, and the U.S. government was the first to issue guidance on using the currency as payment -- a seemingly tacit recognition of bitcoin’s validity as legal tender. Why China Poses A Threat Feng Li, the IDG partner who chose to fund Coinbase, said the Chinese have yearned for access to a virtual currency since the central government cracked down on the use of Q coins. Q coins were introduced in March 2002 by Tencent Holdings Ltd. (HKG:0700), the parent company of the country’s most popular instant-messaging service, QQ , and they currently average an annual transaction value of more than 1 billion yuan ($163 million). That value is growing at about 15 to 25 percent each year. Q coins, purchased with yuan, are predominantly used to buy virtual products and services in QQ and its related online games and social media. Originally, Tencent regulations prevented Q coins from being traded between users or converted back to yuan, but allowed users to trade points and purchase Q coins with their game accounts, then use the black market to convert them into cash. That caused concerns at the People’s Bank of China, China’s central bank. In January 2007, converting game points to Q coins was banned, and Tencent reiterated that Q coins constitute a product, not a currency, which seemed to satisfy the concerns. “There has already been proof with the Q coin,” Feng said of the Chinese likeliness to start using bitcoin. “It’s been very well circulated and very well adopted.” Already, shops on Taobao -- the Chinese equivalent to eBay Inc. (NASDAQ:EBAY), owned by Alibaba.com Ltd. (HKG:1688) -- accept bitcoins as payment for goods, as does the similar service, Tencent’s PaiPai.com. The Chinese are embracing bitcoins in other ways. The first bitcoin fund began to raise money in June, with the goal of raising 20 million yuan. The fund’s investment threshold is 10,000 yuan, and it will mature in four years. Q coin’s popularity isn’t the only reason bitcoin has appeal in China. As it turns out, China is the perfect place for bitcoin mining. While much of the developed world is well into the transition from personal computers to mobile devices, China’s PC market is still thriving, which provides the necessary computing power to run a successful business converting electricity into mined coins. Price caps on electricity already create wasteful use of energy in China, so running a code-crunching computer for hours on end isn’t as costly an investment as it would be in the U.S. And so-called “gold-mining” or “gold-farming” businesses already exist in China’s cybersphere. None of that will come as a surprise to any “World of Warcraft” player: Gamers in Chinese urban sweatshops are known to sit in front of glowing blue screens for hours, slaughtering players in the game for their spoils or mining gold deposits found in the sprawling milieu of Blizzard Entertainment’s international blockbuster. Those treasures are then sold to players in the game for real money. China has a heavily controlled currency, which also makes bitcoin attractive. “The more controlled the currency is, the harder the transactions are, the more friction there is in the national currency, the more appealing the coin is,” Antonopoulos said, noted that the most appealing place to use bitcoin would be a country whose economy is a veritable train wreck -- like Zimbabwe, except that the southern African nation lacks the necessary technology. “I would say China is perfect,” he said. “It’s got the penetration, it’s got the smartphones, it’s got the Internet and the people are familiar with virtual currencies. And, it’s got the not-as-appealing national currency.” Regulation In The U.S. Guidance issued in March by the U.S. Treasury Department said that companies issuing or exchanging online cash, including bitcoin, would be subject to the same scrutiny as traditional firms such as the Western Union Co. (NYSE:WU) to prevent money laundering. Less than two months later, the Department of Homeland Security proved that edict had teeth. Federal officials obtained a warrant Tuesday to seize an account tied to Mt.Gox, the Tokyo-based exchange company that handles about 80 percent of all bitcoin trades. Authorities accused Mt.Gox’s U.S. subsidiary, Mutum Sigillum LLC, of failing to register as a money-services company with the Treasury’s Financial Crimes Enforcement Network. An account held by the online-payments firm Dwolla was subsequently seized. Many feared the warrant execution could cast a chill over the bitcoin industry as a sector centered on a borderless, decentralized money came under the scrutiny of the federal government. That proved not to be the case, Coinbase’s Ehrsam said. “For bitcoin to go mainstream, or as it goes mainstream, it will be used in a higher and higher amount of transactions,” he said, adding that Coinbase is registered as a money-services firm. “There’s no way there will be all this money flowing through an unregulated system.” Chris Larsen -- the CEO of OpenCoin, a fellow San Francisco-based payment platform that processes most national currencies as well as bitcoin and its own virtual cash, Ripple -- agreed. “They definitely are regulating them, [and] we actually think that’s a really good thing for the industry,” he told IBTimes. “I thought the guidance was a good idea. One of the things the guidelines seem to make clear for the first time is that a virtual currency could be used for goods and services.” The Price Of Regulation But such regulation is a slippery slope, said Jerry Brito, a senior research fellow at the Mercatus Center at George Mason University. Perhaps it begins with measures to prevent money-laundering, he said. But what measures would the government take to prevent the untraceable currency from being used for child pornography or human trafficking? “Bitcoin has the potential to be a disruptive technology that would be beneficial to the economy, and we don’t want to kill off that potential to get at the other potential for bad stuff,” he observed. Brito, who plans to speak next month at a conference on virtual currencies organized by the National Center for Missing and Exploited Children, added: “We’re already the first country to enforce money-laundering laws against bitcoin. But the U.S. would be shooting itself in the foot if it went too far [with regulations] and either outlawed bitcoin or made the legal guidelines impossible to comply with.” Will China Step In? So far, Chinese bitcoin merchants have little to fear. For many, the CCTV segment on bitcoin seemed to be a signal from Beijing, which heavily controls the channel’s content, that the currency is worth exploring. Some of those interviewed speculated that the Communist Party wants to see bitcoin stockpiled in China, allowing the government to invest in it if, or when, the dollar is shaken from its perch as the world’s reserve currency. It remains to be seen whether -- or, more likely, when -- China will intervene in the trade of bitcoin in its own economy. But for the U.S. to experience widespread adoption of the currency, which is considered a necessary step for gaining a grasp on the bitcoin market, limited government control will have to allow the money, like the Internet that birthed it, to develop organically.
How Important the cross-Chain Technology is? Even Vitalik didn’t Think of The distance from my heart to yours, is one affectionate confession; The distance from Earth to moon, is a spaceship; The distance from CCB to ICBC, is the liquidation system of central bank; The distance from private company to a public one, is an IPO; The furthest distance in this world, is not the distance betweenImtokenandKcash, but when I’m using this chain with you on the other one…… What will it take to migrate or transfer from ETH To EOS? How do we reach from Ethereum to EOS with our assets? The answer is cross-chain technology. Current cross chain technology can deal with the former question, but the conversion of assets defined in one chain to another, that’s a whole new level of difficulty…… 📷 There are different ways of storing and recording information between different chains, so how do we get across ‘the distance’? 2018 saw major contributions in the blockchain technology. With the emergence of a great number of public chains and consortium chains, this may be good news for the industry, but for Dapp developers, the choice of the right public chain has become an important issue. There are aspects like RAM cost, resource cost etc with free-to transact chains which makes the decision of the right chain for a Dapp a difficult one. In the traditional software world, there are alternate migration plans and upgrade paths available. In the case of the public blockchains forks causing change in behaviors, termination of chains itself etc are possible. Once the selected public chain comes to a premature end, Dapp developers are confronted with the problem of how to migrate the historical information and data form one chain to another. ‘Unlike a company relocation, only a van is needed to move from one place to another, The Dapp’s data migration needs more than a van, it requires a convenient and secure cross-chain technology.’ So, says Charlie, the founder of the UINP cross-chain project. Application Implementation, Chain Interconnection The transfer and management of cross-chain value is an important reason for the emergence of cross-chain technology. Of course, cross-chain technology is not limited to the realization of digital asset transfer and exchange, but also includes more extensive chain-link communication, information interaction and intelligent contract migration. In addition, without affecting the internal network of each public chain, the cross-link technology should be able to achieve a zero-commission cross-link, while ensuring security and transaction efficiency. So far, different public chains are like isolated islands of information. The new Dapp developers hope to get more technical and resource support from the numerous public chains, and the cooperation between different public chains, consortium chains and private chains is also expected to be achieved through some kind of agreement to realize the multi-chain interconnection. At present, most people’s expectation of cross-chain technology is more about the transfer of assets, which is also an important issue for UINP to solve, including the transfer and management of assets of Dapp in the fields of finance, transaction and wallet. It is well known that exchange is the most effective way to transfer assets across the chain, but exchange is a centralized place which is an obvious target for the hackers to attack and most of exchanges can’t make sure the safety of transaction. 📷 Current cross-chain solutions in blockchain industry There are currently four mainstream cross-chain technologies in the market: Notary schemes, Sidechains/relays, Hash-locking and Distributed private key control. 📷 1.Notary schemes’ mechanism: a third-party was selected to witness and record the assets transformation between chain A and B;
Sidechains/relays: it focusses on the events and states of main chain / connected chains by side chain / relay;
3.Hash-locking: a method locking the hash for a period for implementation of bidirectional payment; 4.Distributed private key control: it refers to that all kinds of cryptographic financial assets are controlled by private key and require multiple triggers to complete the asset transformation. 📷 There are seven common consensus mechanisms, as shown in the figure above. Due to the different consensus mechanisms, chain structures and economic systems, it is difficult to communicate among chains, and there are still many bottlenecks in the development of cross-chain technology. UINP will adopt a new cross-chain technology, dedicated to solving the problems encountered in the cross-chain project and promoting the iteration of cross-chain technology. 📷 UINP — seamless cross chain integration & interoperability As the world’s first decentralized cross-chain protocol on transport layer, UINP creates a cross-chain transmission，self-increment and self-decrement cross-chain mechanism, build a natural connection for different chain networks and promote the establishment of a broader blockchain Internet network. UINP cross-chain network will realize decentralized cross-chain assets transformation and be compatible with different blockchain structures and multiple public chains to facilitate the asset management and exchange of Dapp users. In addition to the asset management of digital currency, UINP can also facilitate the transfer of value information in the whole chain ecology, realize the information and data interconnection between public chains, consortium chains and private chains, assist Dapp in data migration across public chain, connect the island of cross-chain data, and build a real inter-chain network of blockchain. Technical features of UINP: cross-chain transmission，self-increment and self-decrement Current cross-chain technologies are relatively centralized because they are unable to cross multiple public chains simultaneously and require cross-chain support from a third chain. While UINP is completely decentralized. Through Quantum entanglement and perceptive hash algorithms, UINP’s observer chain can realize the data migration between two different public chains on application layer, that’s called ‘cross-chain transmission’. Technical features of UINP: all-asset cross-chain transaction The cross-chain requirements of Dapp include not only the exchange and migration of assets, but also the transfer of information, data and value It is difficult for Dapp developers to achieve the migration of application and user information from one chain to another without changing the original chain structure, just like different organisms with different genes arrangement are difficult to communicate with each other. There are four types of paradigm transformation of digital assets in UINP: P2P, A2A, A2P, P2A (P refers to the prevalence, A refers to the assets), creating Dapp assets cross-chain trading system. Technical feature of UINP: Atomic cross-chain technique Due to the different consensus mechanism among different public chains, miners have different ways of bookkeeping, which affects the difficulty and cost of crossing the chain. Most of current cross-chain technology uses blocks as the unit for accounting, while UINP adopts the POU consensus mechanism (the three-layer composite consensus mechanism -pos/pov/s-dpos) to realize atomic bookkeeping, that is, taking transactions as the unit. Dapp developers and users do not have to wait for a transaction to reach a full accounting block before transferring assets, but each transaction can be transferred across the chain in real time. Technical feature of UINP: compatible with chains of different structures Different public chains have different structures, such as Bitcoin and Ethereum as the block structure, while IOTA and Nano are the chains with DAG structure. The application layer protocol of UINP will carry out the paradigm transformation for the public chains with different structures through an observer chain, and each atomic transaction of Dapp will enter the destination network, so as to help developers to cross the chain with different structures. 📷 Technical feature of UINP: compatible with the Internet information set This means that UINP is compatible with the information communication mechanism off-chain, and it breaks the data isolation between the blockchain network and the traditional Internet network. That is to say, the real-time bookkeeping of Ethereum can be synchronized with the payment information in Alipay if one day Taobao shop allows buyers purchase goods by ETH through UINP cross-chain protocol. The application layer protocol of UINP contains Information set, transport layer protocol of TCP protocols, and has the features of 0RTT, optimized congestion control, and transport layer TLS security, etc. It supports HTTP2, which can perfectly realize the synchronization and interaction of Information on and off the chain. Global cross-chain technical community With the mechanism of self-increment & self-decrement and automatic tracking & connection between nodes, UINP will break the inter-chain barrier and realize the interoperability of assets, information and data between different chains at the transport layer, finalize a dynamic adjustment, interconnected chain ecosystem. In the future, UINP will realize a global cross-chain technology ecological community connecting various community systems. The UINP foundation will cooperate with universities to establish communities, with the mission of integrating quality scientific research and strategic cooperation with colleges and universities at home and abroad. We envision creating blockchain Labs promoting research and drive result oriented cross-chain technical research. UINP will also cooperate with various distributed technical and leisure communities, and regularly co-hold cross-chain technical community activities and forums. Blockchain technology is still in its infancy. Communication and cooperation between different blockchain projects can complement each other’s advantages and create the greatest value in the open source way. UINP is willing to undertake this historic mission, accelerate the trans-chain technology upgrades and iterations, and explore the future of blockchain with the global technical peers. In addition, UINP will also build public chain alliances to facilitate the realization of cross-chain protocols. UINP currently has carried out in-depth cooperation with Qtum, Dfinity, TRON and EOS, and jointly explored the future of cross-chain in terms of both technology and application, and promoted the promotion and implementation of UINP’s cross-chain technology in the global market. At present, UINP has raised joint investment from Qidian capital, IDG, Liaode capital and Genesis capital. UINP will be committed to building the Internet of blockchain networks, realize the interchain communication, promote fast and sustainable development of Dapps. We determined to become the leader of cross-chain technology and the pioneer in the Internet of value.
We are your go-to news source for everything cryptocurrency and blockchain in the U.S. and internationally. CryptoBlockWire is your home for the latest cryptocurrency and blockchain news. It’s our job to provide you with access to the latest breaking news regarding Bitcoin, altcoins, and blockchain technology. There is nothing more exciting ... Cryptoline News strives on providing Bitcoin, Cryptocurrency and Blockchain enthusiasts with unbiased news and tips to facilitate trade and investment decisions. Nevertheless, please do your due diligence before investing in any coin. KVK 71667229 Bitcoin News; Alibaba Subsidiary ‘Taobao’ Bans Sale of ICO-Related Services. April 12, 2018. 1694. Share. Facebook. Twitter. ReddIt. Telegram . Pinterest. WhatsApp. Advertisment. China-based online marketplace Taobao, a subsidiary of Alibaba, has announced that it will be banning the sale of any ICO-related services from its platform effective on April 17, 2018. The new restrictions are an ... China's largest online marketplace, Alibaba Group's Taobao, said Wednesday that it would ban the trading of Bitcoin and other virtual currencies from January 14, after a government crackdown on ... A property dispute involving Bitcoin was held in the internet court in Hangzhou, China on July 18, setting a new precedent by declaring that Bitcoin is virtual property with monetary value. According to the case of plaintiff Wu against defendants FXBTC and Taobao, it has been recognized that Bitcoin has the attributes of virtual property and therefore should be protected according to Chinese ...
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