Category Archives: Altcoins

Thoughts On the Steemit Debacle

The STEEMIT drama shows both the failures & successes of DPoS. This is DPoS working as it should. Both sides could of handled this better.

My understanding is Justin Sun Tron wants to use the company stake he bought for voting , the stake Ned said would never be used for voting. The community moved to block this through the witness system. In a sense they averted a hostile takeover.

The only thing Justin Sun Tron is really guilty of is breaking the community trust. He should of had more respect for the community and presented his changes for a proper vote instead of flexing his muscle and basically saying with his holdings he’d shape things as he pleases. Maybe he didn’t understand or realize what he was doing, but he basically tried to declare himself a dictator of Steemit and the community quickly tried to put him in his place.

Yes Justin Sun Tron owns Steemit and a large stake of STEEM. The community however is supposed to control the system. That’s how Steemit was set up, and that’s DPoS in action. Justin is free to use the stake he purchased with Steemit Inc any way he chooses, the community is free to fight it or walk away. It’s unfortunate he didn’t respect Ned’s promise to never use that stake to game the system or sway votes in his favor.

My final thoughts are this. This isn’t going to end well for anyone. I’m sure some version of Steemit will remain but it may never recover as the place it once was. Eventually someone is going to fork the project, or the drama will get so bad, people are just going to walk away.

I think what the exchanges did with users funds is completely unacceptable. Using user funds to sway a vote against the community is just outrageous. I can’t believe any exchange agreed to this. Another example of the need for decentralized exchanges. This gives new meaning to “Not your keys, not your coins”. This was a huge failure on the exchanges part. On ethical grounds, I’ll think long and hard about trading again on any exchanges involved in this shit show.

Funny thing about trust is once it’s lost it’s really hard to get it back.

Crypto Clothing Review TCmerch

A couple weeks back @tc_merch on Twitter contacted me and asked me to review some of their clothing and designs. When they said they would send a few samples to check out I was absolutely delighted. The Dood loves sporting cryptocurrency related clothing. It’s a great way to meet other like-minded cryptocurrency folks, and also start the crypto conversation with curious folks wondering what it’s all about.

Their shipping was pretty quick and a few days after we talked a really nice sized box arrived at my shop. To my surprise, it was filled with all kinds of t-shirts and a hoodie from tcmerch.io! Everything arrived packaged neatly and professionally.

Image of crypto clothing from tcmerch

Everything arrived individually wrapped and professionally packed.

As soon as I began pulling the shirts from their individually wrapped bags, I could tell they were using quality shirts for their designs. The material of the t-shirts was very soft, with a nice feel to them. I’ve ordered flimsy t-shirts online in the past, and these are not those t-shirts. They have a soft cottony feel, and you can immediately tell that they’re made of quality material. 100% cotton American Apparel t-shirts!

American Apparel tag of t-shirt

100% cotton American Apparel t-shirts. Quality stuff.

The hoodie was also made of quality material. The Dood’s a pretty big guy. I’m a little ashamed to say that over the last few years, I’ve put on more than a few pounds sitting behind the computer staring at crypto charts all day. It’s sometimes difficult for me to find clothes that fit well. I ordered the 2X and it fits just like I want a hoodie to fit. I’m 6′ 2″ and 265 pounds. It lays nicely over my waistline and covered up that beer belly. The hoodie is also 100% cotton American Apparel.

image of litecoin hoodie

100% cotton American Apparel litecoin hoodie. Show your love and spread the knowledge! Wear it proudly.

The decal quality is great on the font designs. I love the slogans and the fonts are bold and crisp regardless of the shirt color. Again, if you’re looking to strike up the crypto conversation while you’re out in public these shirts help do that for you. Great conversation starter.

big block font design t-shirt image.

Another favorite. The Dood’s a big blocker and proud. The white box near the collar is just a bar code sticker. I should of removed it before taking the image.

As far as the graphic designs, they were all decent quality too. Definitely comparable to other crypto shirts and hoodies I’ve ordered online. I already sent one through the wash a couple times and the decals are staying bright and crisp.

rekt hoody

We’ve all been there. When there’s blood in the streets it’s time to buy. I’m a crypto trader, not a photographer. For better images make sure to stop by their page and check out some of their other designs.

Here’s another one I love.

bitconnect hoodie design.

How fun would it be to show up at a local crypto meetup where nobody knows you wearing this? LMAO! I’ll probably be ordering this one!

The Dood sporting a bitcoin bart t-shirt.

Bitcoin Bart! This is one of my favorites. I’ll be wearing this all the time.

The cryptocurrency unity design.

The Dood is no maximalist. I really love this design. We’re all in this together! Show your love of cryptocurrency with this really cool unity design.

You can see more of these awesome designs here.
www.tcmerch.io…

The folks over at TCmerch told me to include promo code “NEWYEAR” to receive 30% off if anyone is interested in ordering.

Well, that’s all folks! If you want to see any more of these fun crypto designs, you’ll have to stop by their page. Thanks for reading, and happy trading!

Disclaimer: This was not a paid review. TC Merch asked me to review their clothes and I did. They sent a few designs they selected for my review, and I looked them over and posted my honest opinion of them. Hope you enjoyed the review and found this information useful. 

Cryptopia Cryptocurrency Exchange Has Been Compromised.

Looks like Cryptopia may have been compromised. Early this morning Coindesk reported on the story. www.coindesk.com…

I went to the website and confirmed the site is indeed in maintenance mode!

cyrptopia maintenance mode message

Reminiscent of the Cryptsy hack. Cryptopia goes into maintenance mode as reports surface that the exchange had been compromised.

Searching their Twitter I discovered this tweet confirming the story.

cryptopia posts statement

Cryptopia posts official statement on Twitter

Cryptopia also posted a link to the local police citing an investigation by their local law enforcement.
www.police.gov…

For the most part, Cryptopia has always acted honorably in the past. The Dood holds a small amount of cryptocurrency on their exchange. It’s just starting to sink in that this could be a substantial loss for me. I just avoided losing funds to the Cryptsy hack about a week before they posted the same ominous message! I’ve always expected this would happen sooner or later, but for now, I’m giving them the benefit of the doubt and staying positive.  Hopefully, things will work out for all involved and this won’t be a total loss for myself or anyone else trading on that exchange.

 

Started The Week With A Little Trading.

As I mentioned on Twitter last week, I think I’m going to start posting some of my buy / sells on my blog.  For the most part, this is to help me keep track of my buys and sells. With some of the exchanges not keeping order history for longer than a few months, I’m using this as a gauge to quickly check prices.

I am not a financial advisor. This is not meant as financial advice. This is just The Dood, doing The Dood.

The only thing I sold so far today was a little Tron TRX at .00000669 Still holding a nice bag, just thought I’d take some profits. If it goes up, I’ll sell more, if it goes down, I’ll buy back eventually.

Currently accumulating:

WAX .00000953
DTA  .00000024
POLY .00003332
DRGN .00002336
TEL .00000010
SNM .00000573
FTC .00000457
NXT .00000728
IGNIS .00000439
PPC .00015817
BAY .00000201

Bought back some MANA .00001021

My big gamble for the day was doubling my position of SNOV .00000034
Hoping for a pump and I may completely exit that market.

Currently swing trading the volatility of BCH, LTC, ETH & ZEC for USD. HODLING BTC, and trying to build my USD.

Remember, The Dood is not a financial advisor and nothing here is meant as financial advice. Please seek a duly licensed professional for financial advice, not some jackass on the internet who refers to himself as The Dood.

Interesting Tron TRX Review

Tron has taken a lot of flack since its introduction. I thought this was a pretty fair review of the technology. If you ever wanted to find out more about this controversial cryptocurrency, I found this to be not only fair, but also a very in depth review. Explains solidity, PoS, and a lot of the other technical aspects of this project.