Attention incoming interns! Here's a list of TIPS I WISH I KNEW starting my intern year, some things you can start working on now and some less commonly discussed but very important parts of your job
It’s that time of year and yet again I’ve seen plenty of incoming interns asking what they can do to prepare. I wrote this post to share some tips for all of the not-exactly-medical stuff I wish I knew before I started intern year and to share a few things that interns can do before they start to feel like they’re well prepared for the long white coat. As a quick background, I was a surgery intern in the first half of the 2010s and much of this is informed by my notes and memories from that time in addition to everything I’ve learned since, particularly about professionalism both in medicine and in the business world with work I’ve done in the healthcare startup arena. I’m also not perfect and very much a work in progress myself and, outside the intern-specific items here, I try to do most of these things myself—sometimes more successfully than others. So take what you think are good ideas here, leave what you don’t think would be useful, and if anyone else has anything to add, please feel free to chime in. TL;DR: Intern year is hard. Here are some not-so-commonly-disucussed tips that may help.
1. Being an effective intern is, at its core, about being responsible, effective and reliable.
Your day to day responsibilities are nearly always dominated by the need to get things done and to do so in a manner that lets your other team members focus on their own roles and responsibilities. What about learning clinical medicine? You'll learn plenty and fast. Don't worry. When reading through these tips below, view them from an angle of “would this help me develop an effective system for making sure everything gets done and nothing falls through the cracks?”
2. For your in-the-hospital life as well as your outside-the-hospital life, remember this one thing: you will forget.
You will be busy and have responsibilities in a way you likely have never experienced before. This will naturally make the day-to-day things in life more difficult than you’re used to so developing ways to outsmart your forgetful brain will pay off.
3. You are a professional now. This is your career. You’re in it.
It’s easy to view your life as a trainee as a sort of advanced student or something in between a student and a “real doctor”. But that’s not true. View yourself as a professional building your career. Your intern year is just the first step of that career. You’re a real doctor as much as any other now.
4. One of the hardest things about being an intern or resident is dealing with feelings of isolation. It will take work to actively manage and overcome those feelings.
Imposter syndrome, feeling like you don’t know what you’re doing or that you don’t belong, feeling like you’re not the person you used to be, that you don’t have time to do all the “normal” things that other people do, thinking your co-residents or attendings think you’re dumb, feeling that you don’t have time for friends/family/hobbies, ruminating on “what if I screw this up and hurt a patient?”, or “this doesn’t matter -- the patient is going to XX or YY anyway” etc are all common feelings and they all share the same undercurrent of feeling isolated in one way or another. You need to actively work to find ways to confront and overcome these feelings or else they will control you. When they control you, you’re burned out. It may not seem like it at first, but nearly every single tip below is geared towards avoiding feelings of isolation. Feeling like you’re not in control of your finances will make you feel isolated. Feeling like you’re losing a handle on your relationships will make you feel isolated. Feeling like you’re behind on your email and haven’t done all the little things in life you need to do will make you feel isolated. Read these tips through that lens.
What you can do before you start
1. Organize and update your contacts. Seriously.
Here are some ways it can help you maintain and grow your relationships.
Use the ‘Notes’ feature in your contacts for everyone important in your life and all the new people meet.
You will forget your friends’ kids names and ages. Every time you get a birth announcement or see a post on social media, go to your friend’s contact, edit the notes and put in the info. Then, when you reach out to your friends, ask about their kids...by name.
You will forget your friends’ boyfriend/girlfriend/wife/husband/partner’s name, especially if you’ve never met them or haven’t seen them for a long time. Put their name in your friends’ card with a note like “Started seeing Sam in June 2020, he/she’s a software engineer”. Someone you know gets married? Add their wedding date to their card.
You will forget how you knew people in your contacts. Met at a conference? Was a medical student on your heme onc service? Friend-of-a-friend you met at a wedding? Someone shares an interest you have? Make a note in their contact card. Tip: these notes are for you, not them. So if someone reminds you of an actor, or didn’t stop talking about bitcoin, make a note. It will help because you will forget.
Tag your contacts or add them to lists and use those tags/lists to your advantage.
Make lists or tags for your family, your medical school friends, your undergrad friends, your coresidents, your attendings, your medical students, the hospitals you’ll be working at, etc. Put those lists or tags to use like this:
You will forget to stay in touch with people important to you. Set reminders in your phone for every week / two weeks / month, etc to pull up a list (family, medical school friends, etc), pick someone on that list you haven’t chatted with in a while and text them and ask them how they’re doing. Aim to start a conversation, ask about what’s happening in their life. Texts are more personal and meaningful than liking a post on social media or sharing a meme. Initiating conversations with your friends and family will help you feel connected and will increase the likelihood they reach out to you.
Don’t label your medical students like “MS3 Laura” or “Sub-I Juan”, etc. Label them with their full name and treat them like the colleagues they are. Put them on a list, clear it out next year if you want, but don’t treat them as “MS3 XXX“ or “MS4 YYY”. I’m sure you remember feeling like a nameless/faceless medical student at times in school and I’m sure you didn’t love it. So don’t repeat that behavior. Add a note or two about them while you’re at it. Take enough interest in your medical students to treat them well. You never know when or how you’ll cross paths with them again.
If you rotate through different hospitals, you will forget which “ED” or “PACU” or “nursing station 3rd floor” numbers are which. Tag them or put them on a list. It’ll make finding them when you need them much easier.
2. Use a good note taking app and a good task manager app to help with both your in-hospital life and your outside-of-the-hospital life.
Here are some ways to use a notes app.
Make a note for each rotation you’re on. Add in any unstructured tips as they come up, like “Send all of Dr. X’s patients home with Y”, “Use the call room in the basement outside of the locker room, passcode 1234”, “Park in the X lot on the weekends”, “Dr. A likes to manage Z with Y”, “The case manager, NAME, usually sits at the computer behind the 2nd floor nurses station”, etc. Don't overthink them, just write them down when they come up. Review those notes the next time you rotate through because you will forget all those little things and they will help you in the future.
Create a master grocery list of all things you typically get at the grocery store. Share it with a roommate/partner so they can keep it updated too. That way if you ever stop to pick something up, you can review the list to make sure there’s nothing you’ll forget.
Make master lists for other things in your life too like “packing for a conference”, “packing for a family trip”, “Target/Wal-Mart household master list” so you can quickly review anytime something comes up so you minimize the chance of forgetting something
Make notes for all of the other stuff you have to manage in your life like your car, your apartment/house, your loans, etc and update them every time you work on that thing. Change your loan repayment? Add it to the note. Have to get your brakes fixed? Add to the note where you got it done, how much it cost, etc. Talk to your landlord about fixing the shower? Add it to the note. Have to call the medical board to sort something out with a license? Add it to the note.
I like two note apps on iOS: Bear for personal notes since it’s fast and has great tagging and Apple’s Notes app for shared notes
Pick a good task manager app and use it for all the things in your life that aren’t your day-to-day work
Cousin getting married and you can go to the wedding? Make tasks to ensure your time off, book your travel, buy a gift, rent a hotel room, etc. Then put all the relevant info into your note because...you will forget.
Pandemic is over and you get to present a poster at a conference? Make tasks to review your draft with your coauthors, print your poster, book your travel, submit your reimbursement, etc. Then put all the relevant info into a note. Otherwise, you’ll forget.
I like Things and have also liked OmniFocus. There is a ton of content on how to set one of these things up for productivity so review it and use it YouTube search
3. Take charge of your finances
When I was an intern, I figured all I had to do was pay my loans and not go into more debt. I wish I had done the following instead:
Read these two books: The White Coat Investor and I Will Teach You To Be Rich. Both are very good and have different strengths. The WCI is directly applicable to you and will help educate you in ways medical school didn’t about your financial future. IWTYTBR is much more of a “millennial” book but it’s very good for explaining big concepts and for providing a system to set yourself up for success. They’re both easy and relatively quick reads and don’t require any financial background. WCI is fine as an e-book but IWTY has a bunch of dialog boxes that make the e-book a poor experience, get a physical new or used copy.
Set up a budget. I use and swear by You Need A Budget. It’s the best money I spend every year. Their system is easy and straightforward and it doesn’t take long to get the hang of it. I can’t recommend it highly enough.
4. Update your CV now and keep it updated regularly
You will no doubt have to share your CV with someone at some point whether it’s for fellowship or a research project or any number of things. The time to work on it is not when someone says “can you share your CV?” -- that’s a recipe for omissions, typos and mistakes. The only thing you should be doing every time you share your CV is giving it a quick once-over to make sure you don’t spot any mistakes and to make sure it’s up to date There are plenty of templates online and your training institution may even have a preferred format somewhere on their website. Your ERAS application will give you a good head start but most of your medical school CV lines will either be condensed or removed all together unless something was particularly notable. You can almost always find example CVs online from senior people in your department or institution with a quick web search -- use a few as a guide Set a reminder / task to update your CV at regular intervals. Quarterly is good, yearly at least. Save new versions of it each time so you can refer to the old ones if you need to and name them in a way to let you know you’re always sharing the most recent version, e.g., LASTNAME_FIRST NAME_CV_2020-06. You will forget if the one marked “CV” only is the right one you want to share.
5. Subscribe to a couple of newsletters to stay up to date with the world outside of your hospital
For general news, your preferred newspaper probably has a daily email briefing. Otherwise, Axios AM/PM and Politico’s Playbook are both very good quick reads to stay up to date with current events.
Keep up with healthcare news so you know what’s going on in the healthcare system broadly
Politico’s Pulse and Morning eHealth are both very good and have quick facts at the beginning if you just want to skim
Rock Health’s Rock Weekly is a decent summary of each week in the healthcare startup and technology world
Pick a few of these and aim to get through them each day. If you can’t get through them, unsubscribe to the ones you think are least relevant to you so you never feel “behind” in staying up with the news. You can breeze through the few you pick in a few minutes here and there throughout the day -- don’t make it any harder than that to feel like you’re “up to date” on the news.
General tips for maintaining relationships
For any romantic relationship, do these things if you don’t already:
1. Make a rule: no phones at the table. * Don’t put your phone on the table face-up. Don’t put your phone on the table face-down. Keep your phone off the table and set to silent. * Focus on the person in front of you and show them you care about them by paying attention to them. We all know what it feels like to be with someone more interested in their screen than in interacting with you. If you’re on call, say “sorry, I’m on call, I may have to check something here and there”, apologize if you do check it and then put your phone away. 2. Make another rule: no phones in bed * Same principle as at the table. Want to feel like two strangers just passing through life who just so happen to share the same bed? Wake up, reach for your phone and scroll through your feeds like a zombie before getting out of bed. Same idea before bed. Your phone can wait. 3. If you’re at the point where you share finances, set a regular meeting to review how you’re doing. * Ideally, this is a “red, yellow or green” meeting and should only take a few minutes. Money can be a big conflict issue for relationships and avoiding talking about money is a surefire way to eventually turn to conflict. If you have a budget and shared goals, this should be quick. * A monthly check-in is good. Create a recurring calendar event, attach the shared notes or spreadsheet document you use, add your goals for the meeting and honor the meeting when it comes around.
Eat with people who are important to you, if you can.
There’s something about sharing a meal that’s special in human nature. Friends who are important to you? Partners? Mentors you’re looking to get to know better after you’ve had a few chats? Try to eat with them when you can. And keep your phone off the table.
The same idea works with your coresidents and teams in the hospital. Eat with them if you can. Eating with others builds, strengthens and maintains relationships. Keep your phone off the table if you can.
Think about it this way: who would you consider a better mentor, the person you’ve met with a few times in their office where they sit behind their desk and you in front of them while they glance at their computer screen every time it pings or the person who’s invited you to get coffee or food and they kept their phone away the whole time? Now turn that around and realize the power of the message you can send to people you care about by trying to eat with them and show them they have your full attention.
1. Learn to think about tasks as a continuum from start to finish instead of as a binary 'done/not done'.
Let’s say you have to order a CT for a patient of yours.
Instead of marking the task as complete the second you place the order for the CT, recognize that the whole task is not just placing the order, but also knowing when your patient is going down to the scanner, when they’re back, when the CT is up in the system, when the report is up and also that you’ve looked at the CT yourself and have read the report.
When your senior or attending asks you, “Did patient X get their CT?”, a not-so-great answer is “Yes” or “No”. A better answer is “they’re down at the scanner now” or “the scan’s done but it hasn’t been read yet. Want to look at it?” or “Yes, it’s negative for XXX but did show YYY”.
Whatever system you eventually adopt for your day-to-day task management in the hospital, whether it’s a list or index cards or a printed signout sheet, make sure you’re tracking both when orders go in, when they’re complete, when they’re cancelled, etc. Just marking things as complete once you place the order isn’t enough.
2. Signout is taken, not given.
What I mean by this is that when you take signout, that means you’re accepting responsibility for those patients. They might be your patients, you might be cross-covering, it doesn’t matter. What matters is that when those patients are your responsibility, it’s your responsibility to get what you need to know to take care of them. Is someone signing out to you in a hurry and not giving you what you need? Ask them for that relevant past medical history, those exam findings, and so on. It’s not enough for the person handing off to say “we’re worried about x or y”, you’ve got to follow that up with “in case of x or y, is there a plan for what the team wants me to do?”. Get the answers you need. A lot of covering patients on call is playing defense whereas the primary team generally plays offense. But that doesn’t mean you can play defense in isolation. The last thing you want is for the primary team to feel surprised by your choices.
* Here’s two ways for the above example to go when turning the patients you were covering back over the next day or whatever: 1. You: “For patient so-and-so, you said you were worried about x or y. Y happened.” Them: “What did you do?”. You: “Z”. Them: “Shit, my attending’s not gonna like that”. 2. You “Y happened so I did A like you said, it went fine and here’s the current status”. Them: “Great, thanks” * See the difference?
Along the lines of taking responsibility for those patients, that means that if you couldn’t get the information you needed at signout then you have to go and see those patients and get the information you need yourself.
You’ll hear this idea said a bunch of different ways like “trust but verify”, “trust no one” and your comfort level will change over the year as you become more confident and comfortable. But always error on the side of going to see the patient and getting your own information at the start.
3. If you will be miserable without something when you’re in the hospital, bring it with you. You won’t reliably be able to find it at the hospital every time you need it.
Need coffee otherwise you turn into a demon? Bring it with you. You never know when you’ll get caught doing something and won’t be able to run to the cafeteria for your fix.
On call overnight and know you need food so you don’t go insane? Bring it with you. Here’s a hospital food rule: never rely on the hospital's ability to feed you. The hospital will let you down sooner or later, I guarantee it.
Know you always get cold on call? The day you forget your jacket/sweatshirt is the day you won’t be able to find a spare blanket in the hospital to save your life. Put a backup in your locker (if your hospital respects you enough to give you one).
Miscellaneous productivity, professionalism and lifestyle tips
1. Aim to “touch” everything only once
Example: your physical mail. You know, the stuff made of dead trees that accumulates in that box you check every once in a while. For every piece of mail you get, you should either trash it, file it, or act on it. Don’t touch it until you’re ready to do one of those things.
Example: your email. Either delete it, archive it, reply to it or do the thing it’s telling you to do right away. Don’t fall into the trap of using your inbox as a to-do list -- that’s a recipe to get burned. Use a task manager for your to-do list and aim to keep your inbox at zero. Realize that email’s true power is communication and use it as a communication tool and nothing else.
I’ll use the example of going to a wedding again as something to “touch once”. Aim to accomplish all the tasks at once or at least create tasks and reminders to complete those tasks all in one go. Respond to the RSVP, create the calendar invite with all the information from the invitation, share the calendar event with your date, book your travel, book your hotel, book your rental car, buy your gift from the registry and set a reminder to get your suit/dress cleaned a few weeks ahead, etc.
2. Lean to use your calendar as a tool
Professionals in the “real world” tend to live and die by their calendars. Some people, especially many senior people in medicine, don’t manage their own calendars. But you manage yours. With it you can:
Make sure all events—even small ones like dates or errands you want to run—have locations so all you have to do is click the location for directions
Send invites to friends / family / coworkers for anything you talk about doing that has the relevant info
Make reminders for yourself to prepare for upcoming events, i.e.., don’t count on seeing your parents’/spouses’/whomever’s birthday “coming up” to remind you to get a gift or send a card. Create an event two weeks before their birthday that says “Buy Mom a birthday card”, set it to repeat yearly and buy a card when it comes up, send it a few days later and don’t worry that it won’t get there in time.
3. Learn to use email well
Ever get an email from someone and feel their tone was terse, condescending or rude? Don’t be that person. Error on the side being polite and professional and writing in complete sentences without textspeak. It’s not hard — you type fast, even with your thumbs, I’m sure of it.
Learn to communicate effectively. Keep it short but not terse. State why you’re writing to someone, be clear if you’re asking a question, and think about it this way: “How am I making it as easy as possible for this person to understand why I’m emailing them and do what I’m asking them to do?
Don’t use a canned salutation like “Best, NAME” or even worse: “Best, INITIALS”. Use your salutation to continue to communicate your message and remember that politeness and professionalism extend through your signature.
I don’t know why “Best,” is so common in medicine but it’s meaningless, unthoughtful, inherently passive aggressive and I seriously read it as if the person writing it were signing off by saying “Go f*ck yourself,”. Same thing for “Regards,” and its ilk, any abbreviation like “vr,” or any form of cutesy quote.
Write your salutation fresh each time. Did you ask someone for something? Say “Thank you for your help”. Are you writing someone senior to you and want to sound somewhat formal? “Sincerely,” never goes out of style. Are you sharing information and essentially writing a memo? Use “Please let me know if you have any questions”. Your salutation is communication, treat it that way.
Sign with your name, not your initials. Signing with initials is a common way senior people will try to remind you they’re senior to you. If you do it, it’s like you’re trying to prove you’re a Cool Guy Big Shot too. It never comes across well -- even for those senior people. Initials are terse. Lowercase initials are even terser. Although they may look different at first glance, all initial signatures functionally come across as ‘FU’. Write your name.
If it’s a few rounds back and forth of email, it’s normal drop salutations and signatures and treat email more like texting. Keep using complete sentences without textspeak, though. I promise you’ll come across better that way.
Use the ‘signature’ feature of your email client to share your professional details and contact information
Your institution (not department) will hopefully have a format for this that’s standardized and includes minimal or no graphics. If it doesn't, then I feel sorry for all the inevitable IT headaches you will eventually endure at your institution since they clearly underfund and undervalue contemporary IT and professional services. It’s the wild west out there so find some good examples of clean, professional signature formats and make one for yourself.
Note: this signature lives below your salutation and sign off. It’s essentially the letterhead for your email that lets your recipient fill in the details you may not otherwise provide like your department, mailing address or fax number. It’s not a replacement for signing off of your communication professionally.
Never use bold, italics, underlines or different font sizes in your emails. They only make emails harder to read and jumble your message.
If you want to highlight something, put it in a numbered or bulleted list.
If you can’t communicate what you want with 2-3 bulleted points, then email is not the right medium to use. Do you like reading long emails? Of course you don’t. Write a memo, attach it as a PDF or shared doc and use the email to tell your recipients to review the attachment.
You will eventually, in some way or another, ask someone to introduce you to one of their contacts and or refer you for something. Learn how to write a good forwardable email that utilizes the double opt-in concept and how to make it easy on the person doing you the favor. Read more here, here and here.
While you’re at it, understand the power of using CC and BCC to communicate effectively.
Aim to answer all emails written directly to you within 24 hours.
If you can’t respond fully right away, respond briefly saying you got the note and that you’ll work on it and get back to them. Set a reminder or create a task to do or review the thing and get back to them once you’ve done it.
Do you hate being left on read in text? You do it in email every time you don’t respond to someone in a timely fashion. It’s better to share a quick, “I got it and I’m working on it message” then not replying until days or weeks later.
4. Don’t let someone else’s negative energy and/or anxiety transfer to you
You will frequently experience things like this in the hospital:
A co-resident disagrees with a management decision made at rounds and mentions that so-and-so is an idiot. So-and-so probably isn’t an idiot. Your co-resident probably isn’t an idiot either. Form your own opinions from your own experiences.
A nurse pages you with a tone that says “THIS IS REALLY BAD”. It might be, go and see. And on your way, stay calm and go over the steps in your head of what you’d do if it is, in fact, REALLY BAD. But don’t freak yourself out before you even get to the room. You won’t be able to make decisions with a clear head if you’re already worked up.
You’re a surgery intern and all your patients are normally on the med-surg floor. Every once in a while, one goes somewhere like heme-onc if the med-surg floor is full. Someone on your team says something like “great, now they’re going to screw up our patient”. Recognize that that floor isn’t full of terrible nurses and may just have less experiences with lines and drains and that the best thing you can do is go down there, talk to the nurse and say “here’s what we want to be called about” and “this thing may look bad but it usually isn’t and we don’t need to be called, here’s why”, and so on. Doing things like this will mean you get fewer calls. Fewer calls are good.
Your attending is having a bad day and you’re not enjoying your interactions with them. Don’t let that make you have a bad day too. Medicine is hard enough as it is, stick to your own bad days instead adopting other people’s. Then pull up your friend list, text a buddy and feel better.
5. Don’t neglect your physical health. Trying to eat well and stay active are even more important when you’re insanely busy.
The #1 thing you can do to help your waistline is cook your own food and pack your own meals. It doesn’t matter what you cook or how good of a cook you are, as long as you’re aiming to pack meals that an adult would eat, it will be healthier than takeout and cafeteria food. It’s better for portion control, you control all the ingredients and you get a sense of satisfaction for being on the ball. It’s better in every way. I know it’s not realistic to always prep and pack your own food on the busiest of services but you should try to hit at least a percentage like 25% or 50% of your meals. There are no lost causes in your own health. It will be hard to exercise and work out. You should still try to do it anyway. You will go long stretches without exercising at times. Don’t beat yourself up about it. Every day is a chance to do the thing you want to do so get back out there.
6. If your social profiles are private, consider doing some housekeeping and making them public.
Instead of thinking about them as a liability to be that needs to be hidden, think about them as a narrative you can control. Nothing is private on the internet. Even your private profile. You never know who knows someone you know or what may get screenshotted and shared down the line. It’s natural to run a web search on anyone you’re meeting for a date, interviewing with for a job, or researching in general. When you search your own name, what comes up? What do you think when you’re searching for someone and they have a private page? Do you ever click on a few links to see professional stuff from LinkedIn, and then some social pages to see what else you learn? So does everyone else. Use your social pages to put forward a version of you that shows who you are, shows some interests true to yourself, makes you seem like a totally normal and reliable person (which is exactly what any potential date, partner, fellowship director or hiring manager is asking themselves about you) and doesn’t share enough information to let a patient show up at your door. Medicine lags behind other industries with people still commonly hiding behind private pages. In the tech world, it’s more strange to not have a public page. A private page says more about you that you might want to hide red flags whereas a public page says “go ahead and look, you won’t find any red flags”. One is much more powerful than the other.
Closing and something to read
When you view your professional life, it’s natural to view your professional relationships as being a binary one between patient and physician. That’s certainly essential and certainly important, but as a professional you now have relationships to consider with so many more types of people: co-residents, faculty in your department, faculty in other departments, administrators, support staff, medical students, and so on. Just as you had to learn how to work with patients, you will have to learn to work with all of the other people in your professional life. Truly effective professionals will treat all interactions importantly and give thought and consideration to each one. All these interactions and relationships will all affect your day-to-day experience, your well-being and, ultimately, your professional experience. You will find yourself being not just responsible for your patients, but also for yourself, your career and your relationships. It takes effort to succeed in all of those areas. And even with effort, sometimes you’ll be winning in an area and losing in others. And in a few months it will be different -- that’s just life. I want you to consider looking outside of books and resources written specifically for physicians when you’re trying to tackle these issues inside the hospital and out. Medicine is a much-smaller-than-you-realize bubble with a long history of personality-driven examples of “that’s just the way we do it” or “that’s how we’ve always done it”. There are good books about medicine out there, to be sure, but you’ll benefit more professionally by learning from the wide world outside of hospitals since there are quite simply many more successful and accomplished people who’ve written great resources for all aspects of professional life that medicine tends to ignore. I’d recommend you start with this book: Andy Grove’s High Output Management (a review by another Valley titan here). Andy escaped communist Hungary, taught himself English and rose to be CEO of Intel and went on to be a sage of Silicon Valley before he passed. This book is a how-to guide for how to be an effective professional in an organization (hint: you're now a professional in an organization) and if you’ve enjoyed this post at all, you’ll love this book. You may think that this book applies to ‘managers’ and ‘business’ and not medicine but you couldn’t be more wrong. Although it was probably written around the time you were born, nearly everything in this book is a lesson that directly applies to your professional life in medicine and when you start seeing it, you’ll feel like you’re in The Matrix. Congratulations! You've worked hard to get here. Be proud of yourself, your degree, your long white coat and be the best doctor you can be.
Urgent Advice Needed - Issues Refunding Money to a Client, Possible Money Laundering?
Hey everyone, so buckle up, this is a story. I'm a freelance translator with my name and contact info out on several sites to connect translators to clients. So, when I got an email from my customer, L, I didn't think anything of it when she asked me to translate a research paper from German to English. Prior to even opening the document she sent me, I told her I wanted a contract signed - nothing major, just run of the mill stuff. You know, to make sure both of us were protected. It entailed a 50% deposit for me (this paper was 46 pages and I have a policy that past X amount of words, I need a deposit for any time spent on a project. It's non-refundable, so I get paid even if the project gets canceled). She refused both of those things. Like most people, I'm in a pretty tough spot right now. I knew I shouldn't have even continued speaking with her, but with my fee agreed upon, I was looking at almost $10,000 for the entire projected when all three phases were complete. After refusing to sign a contract and agree to a deposit, she told me, and this is a direct quote "the money will be our contract". I was willing to operate on good faith, so I told her I'd get to work when the payment processed. The amount we agreed on for Phase One was 1150.00, but she sent me - via her "sponsor", some random account in Arizona, even though she claims to be overseas - 7,176.00. There was no warning, no notice telling me that they were sending me more than we agreed, or that the payment would be coming from Arizona. I contacted L and asked for clarification. She told me it was for payment for the next 2 phases due to start in the fall. I accepted that and kept working. I finished the project 2 weeks before it was due and sent her the final document. Two days later, she sends at email telling me that the final 2 phases have been postponed and she needs the extra 6 grand or so back, asap. Well, things happen, whatever. So I asked her how she wanted it returned to her. This is where shit gets weird. First, she tells me she wants it done via Zelle, which is connected directly to my bank. She sends me a contact and asks for all of the money to be sent at once. I tell her that since it's a new recipient, I can only send $500 and there's monthly limits on my account as to how much I can send in a 30 day period. Now, her name is Lara, that's the only person I've been talking to directly. But the name on the Zelle account was Caldon H. I thought that was the name of her sponsor. She proceeds to ignore my telling her about sending limits and demands a refund. I explain to her again, with screenshots from my banking app backing me up, that I'm limited by sending limits. I tell her that I'll repay her in $500 installments until all the surplus funds are returned. Not fast enough. She then demands I use Cashapp. Oiy. This was a mess. I did reading and research on the app, since I'd never heard of it before and was alarmed to say the least. But she was sending text after text, email after email demanding a status update. She sends me another account to transfer the money to: Linda. So, so far we have Lara, Caldon, Linda. Keep count of those names. I ask who Linda is, no answer, just more demands. Cashapp, true to fashion, fails. I'm unable to add so much as a dollar to my account to send "Linda" and while I wrestle with this and try and find support to contact - HAH - I get payment requests via Cashapp and yet more emails and texts from Lara. I explain to Lara, once again with screenshots showing that the app isn't working despite my linking both my debit card and checking account to it. She ignores that. Linda sends more payment requests. I tell her, hey this isn't working. What about Venmo? Paypal? She ignores that and demands wire transfer. She sends account info for someone named Mark. I ask who Mark is, no response. I attempt to send the wire transfer via my banking website and the bank legit tells me that that account does not accept wire transfers. What... So, more screenshots and then I ask her to double check account and routing numbers. She gets back to me with "the information is correct. Be patient when entering numbers." As if it's my fault. So I try it again and it fails, again. After that I contact my bank directly and speak with their support line. We do the whole song and dance and they tell me that everything is kosher on my end, but the issue lies with the information I was given, confirming my suspicions. I send her another email explaining everything, that I'd spoken directly with bank support. She tells me, once again, that the fault is mine and to just go to the post office and get money orders in $1000.00 amounts, leaving the recipient blank... Yeah you read that right. Leave it blank. Overnight it via Fedex to some guy named James, in Georgia. Arizona, Georgia, Germany. James, Caldon, Linda, Matthew, Lara. I tell her point blank, I can't go to the post office. I'm in Idaho and COVID cases are skyrocketing. I'm high risk, so is my partner and one of my two roommates. Like, die for sure, high risk. I try a wire transfer via Western Union instead. At this point, this has been going on for a week. I've been getting 4am texts and 6am phone calls for a week. She's on me for about 10-12 hours a day. I'm a full-time student on top of this, with one more semester of undergrad. But classes have taken a back seat so I can deal with this. Western Union holds the transfer under review and tells me that it will take 6 business days to show up in James' account. I tell Lara and assume that we're on the final leg of this mess. Surprise, WU cancels the wire transfer. I call support and they tell me it's issues with the account I'm sending money to. I tell Lara and she starts getting snappy. We try wire transfers for the last time, this time to someone named Matthew Green, different Matthew than the first, in Dallas. It fails. I spend $60 trying to send them. My bank calls ME and says they're concerned about fraud. I tell them I'm trying to send money and confirm info I was given. Once again, everything is fine with me, but it's issues with the account Lara wants me to send money to. I tell her and once again she changes her track. She demands, again, money orders, same rules as last time and I tell her no, again and explain why. She ignores that and tells me to do Cashapp, again. We spend an entire day with me telling that I'm not comfortable with Cashapp. It's not dependabe, it doesn't work. There's no support for me to contact if things go wrong - which of course it will - and she insists. She ignores my concerns and insists. I tell her, fine, but I want a written and signed statement from you that you are demanding this and that I'm not responsible if things get messed up and you never get the money. She signs a statement and the I try again. Same issues. I tell that, in another long email. By this point, it's been 2 weeks. I'm stressed, drained and tired of her weird behavior. I tell her that I've been understanding and patient with her. I've tried to help her fix her mistake of sending too much money too soon. That we never agreed on that much money and reminding her that SHE refused to sign a contact that would have protected us both. I tell her, Paypal or Venmo. No cashapp, no wire transfers (which I'm out $60 trying to send fyi). Paypal or venmo. If she doesn't have an account, find someone that does. She sends me a Paypal account url for someone named Micheal. A new name. I ask who Micheal is, who are these people? Why are they all over the US? She ignores that, demands the money. I try to send payments, but I can't send more than $5 to MIcheal at a time. I tell Lara and she blames me. Says I'm not doing it right. I'm supposed to send payments in multiple transactions of varying amounts, small to large. "No Tracking info", whatever that means. I tell her, look, I can't send you anything. Check your account info, I'm tired of this BS. She sends the same info again, nothing about her contacting support for once. I try again. It fails, same issues. I contact support myself and they tell me - - you guessed it, my account is solid. Hers is not. She is why the money isn't going through. I tell her that and suggest Venmo. At this point, I can't think of anything else and I'm planning on contacting my bank to ask advice, but my last request for Venmo was made at 11:30pm MST. I'd been dealing with this since 8am MST. I was tired, done. I sent that email and screencaps and turned my phone off for the night. I get up this morning, make my coffee and check my work email. I get an email form Lara saying that I'm the reason the payments are failing "once again" and "following my instructions, now. Send it via Venmo, no tracking info. Do it now." I decide to be a sport one last time. I try Venmo. It fails. I'm writing this post to ask for what other steps, legally, I need to take to protect myself. Once again, she didn't sign a contract. I've saved all emails and texts, and all of them show they we agreed on 1150.00 as payment for this job. They show that I've tried to return the money to her over the course of 2 weeks. She refuses to let me speak to Coldon, Linda, Matthew Green, Matthew M, James (who she claims died yesterday), or Micheal Brown. She answers none of my questions. She sends aggressive emails and so many texts that I had to block her number on my phone. I'm completely at a loss. The longer this goes on, the less legit it seems and I need some advice. I plan to speak to my bank today and ask if they can refund the money to the account that paid me. I can't get info on that account from Lara, no routing or account numbers. So my hopes are slim. I have no idea if Lara has any legal recourse or ground to stand on, since she refused to sign a contract and all attempts to return the money to her have failed. As I said, I've saved all emails and texts showing that I tried to work with her. Any ideas? Anything would help. I want this to be over and done with. UPDATE: I contacted the fraud department at my bank, explained everything and they said that we see that you've attempted to return the money multiple times and none of it has worked. They said I have 2 more options: "If they really want that money, offer to send a personal check. We'll start a research claim in the meantime and that will take up to 10 business days to either be resolved, or you will be contacted by a member of the Research Claims department." I asked what my options are if they refuse a personal check and the banker said "Then you've done everything you can. Wait for the research claim to be resolved or to be contacted. You've done everything you can up to this point and we can see that clearly." Lara has refused a personal check, demanding a cashier's check instead. I told her "My bank advised me to only send personal checks, not cashier's check. There must be a name and a legit address. I will not leave it blank." She asked me to send it via bitcoin. My reply: No. I have filed a research claim with the fraud department of my bank to get to the bottom of this. They will resolve it as they see fit. That will be my last communication with her.
A better name for 'Decred' to broaden the reach of our superior vision
This is a detailed proposal I planned to have put up for vote on Politeia. But was told it would need a more detailed plan of execution (budget, marketing, devs etc) which is beyond my expertise. I invite everyone in the DCR community to read it and contribute to make it a reality. Intro: Warm greetings to everyone! I am a DCR supporter with a background in law and media. For years I was a news reporter in one of China's largest television networks, during that time I have accumulated a solid understanding of mass communication and presentation. I fell down the Bitcoin rabbit hole in 2017 and has not look back since. But I believe DCR is a superior store-of-value and a decentralised organism capable of long-term adaptability thus securing the long term financial sovereignty and organisation of people around the world. Problem: However, there is a growing sense in the community that Decred has a name recognition barrier to overcome. That was expressed by the DEX developers saying the concern they have is 'getting the word out there'(Decred in Depth May 15th), a concern echoed by many others. The community also appears to be debating and experimenting with various outreach strategies. I have confidence in our vision, developers and contributors. However, they are not the only factors determining the success of a project. When it comes to the expansion of name recognition, adoption and network effects, the competition is fierce and likely winner takes most or even all (see Matthew effect, "Whoever has will be given more, and they will have an abundance. Whoever does not have, even what they have will be taken from them." Bible Matt 13:12 ). If we do not present our project in the most approachable way possible, I do believe we are at risk of missing out on the golden window of adoption, and the project might never really catch on. That would be a big shame because the world would never be able to adopt our superior vision of Bitcoin sound money, and if the governance issues of bitcoin does flare up further down the road, there is a risk of it being corrupted, neutralised or captured by some predatory governments and the international fiat financiers, and they will never allow something like Bitcoin to develop among the masses again, if that happens, Decred would not be large enough to deter them either. Reasons for Proposal: I would like to lay out reasons why the name 'Decred' is not a good name for our project and is holding us back at the moment. I obviously have great respect all the design and planning that has gone before and my fellow Decredees already working on design projects will be incentivised to vote against my proposal. But I am offering constructive criticism and we all want the project to succeed and do not want proposals to just validate whatever we have been doing before. So I hope you would consider this carefully and objectively. I suggest that the name of our project 'Decred' should be reviewed and rebranded. Firstly, the name 'Decred (decentralized credits)' is manifestly tech and developer centred, it reflects the perspective and values of the brilliant minds that conceived our project. I understand the monumental importance of decentralization, but for the newcomer the word is hard to grasp. When introducing the name of a project, we want to communicate what would register as substance that can be easily grasped by people. 'Bitcoin' emphasizes that it is digital and has value. The word 'Coin' is easily understood as substance, 'Coin' is a classic word communicating value that appeals to the most primordial circuits of our brains as something you want( to hold in your hand), something of value, something that jingles in your pocket, something shiny that you want to accumulate and collect. In contrast, the "De" in Decred gives a notion of negation and negativity, not of substance and affirmation, as is common in the English language (for example: devalue, dethrone, debunk, devolve, dejected). I fully appreciated that to us insiders 'de' signifies 'decentralized' and is of enormous substance and value, but that is not apparent to the newcomer and even implies the opposite. Secondly, 'Cred (as in credit)' is also very intangible compared to 'Coin', credit only developed later in human economy and do not register with the same force as 'Coin' in our neural circuitry that identifies value. In our day and age, the word 'credit' also has a negative connotations (for example: credit bubble, credit card fraud, credit crunch, credit crisis). In short, credit is associated with volatility and fragility, which is very contrary to the nature of our robust project that values reliability and long-term adaptability. So with all due respect, "Decred" is not a good name to communicate what we stand for. Compared to 'Bitcoin', it does not meet people where they are (we want people to come for the profit and stay for the vision and tech, most people are like that, for better or for worse), 'Decred' is a bit too self-obsessed with putting what's under-the-hood of the project right upfront in the name, it is not at all obvious what 'Decred' means to a curious person who wanders into cryptoland. In addition, "Decred" bears an unwelcome resemblance to the word "Discredit" which is also another minus. We should focus more on how the name of our project makes people feel, rather than emphasising function and features that newcomers are unlikely to grasp easily. The majority of people make decisions based on how it makes them feel, not on utility and reason alone. Bitcoin understands this, it struck a more visceral part of the human psyche, people want 'Coins' that can go up in value, but in fact that hopeful speculation and hopium was the Trojan's horse for the masses to adopt a more decentralized, censorship-resistance and secure form of monetary system. Our project should do the same, starting with the name. Thirdly, I would like to put forward my idea about what should replace the name "Decred'. There can be little doubt that Decred is building on the brilliance and vision of Bitcoin (PoW, 21 million supply cap, transparency and decentralization). In a way, our project aims to be more 'Bitcoin' than Bitcoin, PoW+PoS improves security, the governance mechanism + treasury ventures to where Bitcoin has not gone before, which is building decentralization and transparency in the governance and evolutionary process of the project itself. Our project lead Jacob Yocom-Piat, whom I really respect, shared how he discovered a 'central planning committee' running things in Bitcoin and believed it was contrary to the spirit of Bitcoin, that helped give birth to the name 'Decred'. Therefore I believe the 'De' in Decred is a further doubling down of the principle of decentralization ('like it or not, we are taking this all the way, Bitcoin!') , it is a protest. 'Cred' could also be a reaction against the more tangible name 'Coin' signifying that we are moving further beyond it in the digital economy with 'decentralised credits'. However, as I have already laid out above, it is not an approachable name from the perspective of the new adopter. Decred is in essence a reactionary name, and is not optimal for presenting a project that is already digital, intangible and hard to grasp. History shaped the name 'Decred' and that is a beautiful thing, we would not be here without it. But I suggest it is time to move beyond by taking a step back. We do not want to be going against the grain of two things: 1) human nature and the learning curve towards the tangible and affirmative as opposed the the negational and negative. 2) the already established network effect of the name recognition of 'Bitcoin'. Going against these two grains will make it unnecessarily harder for our outreach, thus hamstringing adoption, instead we should go with the grain and ride the wave of already established network effects by tapping into people's familiarity with the word 'Bitcoin' . Therefore I propose the new name of our project should at least include the word 'Bitcoin" followed by a word to describe the unique way our project has taken Bitcoin forward. Bitcoiner Dan Held mention in his blog how: "Bitcoin is the Apex predator of money" https://www.danheld.com/blog/2019/1/6/planting-bitcoinspecies-14 I truly believe that title actually belongs to our project. With our treasury, potential consensus rule changes through politeia and extra security compared to Bitcoin, we will evolve our way up the monetary food-chain because we are robust and superiorly adaptable. As Chris Buriske says: "In #crypto, so long as you have good governance, you can have any feature you want." Thus, I further suggest our rebranded name be: Bitcoin Evolution (Bitcoin E/BTE). I believe this faithfully reflects our ethos of being true to the spirit of Bitcoin while also being future-proof and adaptable (Although the vote in this proposal itself is not a referendum on Bitcoin Evolution, I will explain at the end). For people looking into our project, trying to figure out what we are about, 'Bitcoin Evolution' really speaks for itself. The famous Bitcoin educator Andreas Antonopoulos once said that "the next Bitcoin is Bitcoin". I take it to mean that the idea of Bitcoin is larger than the specific chain Satoshi Nakamoto started himself. If that's true, it is justified for a later project that takes the spirit of Bitcoin even further to adopt the name Bitcoin E. E means Evolution. Also on the off chance that we turn out to be more wrong about Bitcoin's governance than we think and Bitcoin's rough consensus works out just fine (no more hard forks, successfully implements privacy, no VC corruption etc). Then Bitcoin will become the indisputable 'gold standard' and likely take most of the pie, in that case if our name highlights our similarity to Bitcoin and our governance model also hold its own, we will likely end up doing better than sticking to our protest name 'Decred'. This is from a risk management perspective that we might want to consider. Also on the off chance that we turn out to be more wrong about Bitcoin's governance than we think and Bitcoin's rough consensus works out just fine (no more hard forks, successfully implements privacy, no VC corruption etc). Then Bitcoin will become the indisputable 'gold standard' and likely take most of the pie, in that case if our name highlights our similarity to Bitcoin and our governance model also hold its own, we will likely end up doing better than sticking to our protest name 'Decred'. This is from a risk management perspective that we might want to consider. Possible Objections: I am happy to engage with any question or objections in the comments sections. But allow me to first anticipate some objections I foresee here. Q1) "Rebranding now will undo too much of the work we have done before. It is too late." A1: By all the indicators that matter, we are still very early. With the upcoming bull market in this money printer go brrr macro economics setting, a new wave of new investors will be flooding into the crypto sphere in the next 2-3 years, and they will be coming for Bitcoin. By not going against the grain of the established Bitcoin name, the attention Bitcoin Evolution will receive down the years would far outweigh what loss we incur from rebranding. Short term pain, long term gain. Q2) "Won't we be making an opportunistic gambit and look like scammy or weak projects like Bitcoin Cash, Bitcoin Diamond and Bitcoin Gold ? What if we attract all the wrong people and destroy our community culture?" A2: I believe regardless of others think, our rebranding is not an opportunistic gambit. Bitcoin Diamond, Gold and etc are forks of Bitcoin that misses the point of what BTC was about. We are not a fork of Bitcoin (and we aim precisely to avoid contentious hard forks). Nevertheless, the spirit of Bitcoin is faithfully implemented in our chain. We preserve the immutability and robustness of BTC and take the decentralization principle to its full logical conclusion, which is for it to permeant development and community decision -making. One can say we are the true heirs of Bitcoin and we should carry the mantle proudly if we really believe in our vision. I also do not believe "Bitcoin Evolution" will attract all the wrong people. We will have a huge influx for sure, and that will put us under pressure. But unlike Bitcoin 'Cash' Gold or Diamond', people will coming to us will understand we have the long term and adaptability in mind, 'evolution' suggests it is a long game. The quick buck at all costs bunch will not find ours to be the most enticing name. I also have faith in our incredible community of communicators and educators to bring new people onboard to our long term mindset. In addition, when we rebrand, the people who know Decred well and support it will not abandon ship just because they don't like the new name. The people who are already critical of Decred will no doubt seize the opportunity to attack and insinuate. Haters gonna hate. We did not care before and should not start fretting. I invite all to focus on all the new and curious adopters and explorers who will be flocking to us because of the Bitcoin name, and rightly so. Q3) "If the fundamentals are sound, won't the project catch on even if the name 'Decred' is unrelatable? Just a matter of time right?" A3: No. The history of other network effects has shown, the success of a project depends on many factors, it is not just a simple framework of a sifting mechanism eventually singling out the best tech and best ideas.** Sometimes it is not the best idea that wins, but the idea that is good enough at the right time and the right place wins.*\* Think of the internet protocol TCP/IP. We have to have the right ideas at the right time and meet growth goals at an appropriate speed to break out of bottlenecks and achieve network adoption. With Bitcoin there is the added risk of entrenched centralised establishments exploiting the weaknesses in its governance to neutralised it, if they succeed, we will likely not get a second chance. We should not leave that to chance and refine our project in as many ways as possible. I believe precisely because we have sound fundamentals of decentralized governance, that when time is ripe to consider a rebrand, we will meet the need together and start this conversation to get the job done. But the project won't automatically catch on by itself, we need to explore and make decisions together to improve it. In conclusion: In our name, let us not present to the world what we are against (centralisation), but what we are for(Adaptive future-proof Bitcoin with all its classic strengths). Let us go with the grain of human nature and the network effects of name recognition and not unnecessarily strive against it. I believe just like a teenager transitioning into adulthood, we are coming of age in a new era of growth and self-awareness. And sometimes, growth means taking a step back to recalibrate and orient ourselves. What you are voting on: I hope to ignite a constructive discussion about a serious plan to rebrand for the better. I do not ask for any funding as it is not up to me to implement anything, I just hope my insights can help us on the journey of changing the world for the better with our superior vision of an unstoppable decentralised organism. The How, Who and When questions concerning rebranding should be explored by the community together. If you Vote 'Yes' you are not necessarily saying we are just going to rebrand to "Bitcoin Evolution" or even a new name with "Bitcoin" in it. Voting 'Yes' means you see the merits of my arguments and want to seriously consider rebranding and turning the page from the current name 'Decred'. I have been engaging with the Chinese Decred community but I am not known to the community at large, so I understand there will be a lot of questions and scepticism and I welcome all constructive feedback. I also want to pay my deep respects to all the developers, contributors and everyone who has dedicated their time and passion to our project. Let's keep building together! If you appreciate the work I put into this, feel free to make a voluntary donation: DCR: DsWgLiEBw5YAHqrfZpYQjgPYhAT2DkdD6m9 BTC: 3GtuhwsoY2BYjqbaf2tCdjZbZw2Zn4H48P You can follow me on twitter: https://twitter.com/decredinator Peace, decredinator
I feel so embarrassed. … TLDR: I have watched our xrp transfer from our account to an account that is currently holding over $2.5 million in xrp. This is clearly a large operation. Details below: Use to see: https://xrpcharts.ripple.com/#/graph Our account: rfSYXEwYre349J3tBUhPvcawU5F2EGVN9a The account that stole our xrp: r9sGt5vtxFcSfK2xwX3HxAMWTPTHo1ZLEg The whale it was transferred to: rwpMvfxoodXggJ1g4qv6MWAPQqWDwQyHUW The Chrome app is no longer live. I have however seen it re-uploaded this morning and have reported it. If you do a search for Ledger in the Chrome Store tomorrow morning I am sure you will see it there. Original links to said app: https://chrome.google.com/webstore/detail/ledger-wallet/pbilbjpkfbfbackdcejdmhdfgeldakkn?utm_source=chrome-ntp-icon https://chrome.google.com/webstore/detail/ledger-live/opmelhjohnmenjibglddlpmbpbocohck/related?utm_source=chrome-ntp-icon … I’m self isolated as I am one of the many victims of Covid-19. I’m confined to a room in our house while my husband who is a key worker, continues to leave for work each day during the UK’s first lockdown. He’s an absolute hero, but I desperately wish our circumstances where different. I desperately wish I could just hug him. I have little but a laptop to keep me sane during the day at the minute, so I am frequenting Reddit often and keeping an eye on the crypto markets. Due to the situation right now money is tight, however I had worked out that by consolidating a few of our other crypto I would be able to recoup around 20% of our losses to help. We have our xrp stored in an offline Ledger Nano. The keywords are stored in a separate location and I knew never to divulge them to a 3rd party. Why I ended up doing just that, I can’t explain or understand. I can only put it down to the constant fever brought on by the virus. Believe me guys, this isn’t like flu! So… I begin the day by selling a load of our other crypto currency for bitcoin, sold some to help us and I then consolidate the remaining into xrp. I then load up our Ledger. It’s been a while since I last accessed our Ledger (2018), and have since changed my computer. I recalled the Ledger having a Chrome extension and this is when the scam starts. The only ledger extension on the Chrome store is one by the name of “Ledger Wallet” or “Ledger Live”. It claims to be from Ledger.com ® or Ledger Official ® and for all intents and purposes looks legitimate. It even had over 70 positive 4-5 star reviews, ranging from “Its a little difficult to operate” to “once I understood what to do it was easy”. Once you download the Chrome extension, it will ask for the version of Ledger you are using, followed by a screen prompting you to fill in your full set of keywords. I sat there typing each keyword out, double checking each one and not once did I think that this app wasn’t legitimate. I feel so very stupid. The app didn’t appear to work, so I downloaded a trusted wallet instead. I thought nothing of it and continued. At this point our Ledger contained 14,908 xrp. My husband and I had built this up as our nest egg since 2017. As I started to look into transferring the small amount of xrp I had recouped that morning, out of the corner of my eye, I watched as 14,889.740739 xrp vanished from our account. The entire process took less than 8 minutes. Due to the virus and shock, I believe I may have then fainted. I cant be sure. I have since reset the ledger, filed a report with Ripple, the FBI and my local Fraud Police. My husband has been ridiculously understanding. He says its just money and right now our focus should be on getting better / staying safe. I feel devastated. I apologise for how long this post is. I guess I wanted to vent a little too. I’m so upset and fully anticipate getting trolled to death, but I wanted to alert you all of this scam as best I could. .. I hope you are all staying safe during this time x
Disclaimer: I am not and have never been affiliated with any of the mentioned parties in a private or professional matter. Presumably in an attempt to smear a local competitor, Hayden Otto inadvertently publishes irrefutable on-chain proof that he excluded non-BCH retail revenue to shape the "BCH #1 in Australia" narrative.
Scroll down to "Proof of exclusion" if you are tired of the drama recap.
Scroll down to "TLDR" if you want a summary.
In September 2019, BitcoinBCH.com started publishing so called monthly "reports" about crypto retail payments in Australia. They claimed that ~90% of Australia's crypto retail revenue is processed via their own HULA system and that ~92% of all crypto retail revenue happens in BCH. They are aggregating two data sources to come up with this claim. One is TravelByBit (TBB) who publishes their PoS transactions (BTC, LN, ETH, BNB, DASH, BCH) live on a ticker. The other source is HULA, a newly introduced POS system (BCH only) and direct competitor to TBB run by BitcoinBCH.com - the same company who created the report. Despite being on-chain their transactions are private, not published and not verifiable by third parties outside BitcoinBCH.com Two things stood out in the "reports", noted by multiple users (including vocal BCH proponents):
The non-BCH parts must have tx excluded and the report neglects to mention it (the total in their TBB analysis does not match what is reported on the TBB website.)
The BCH part has outliers included (e.g. BCH city conference in September with 35x the daily average)
Hayden Otto's reaction
In direct response to me publishing these findings on btc, Hayden Otto - an employee at BitcoinBCH.com and the author of the report who also happens to be a moderator of /BitcoinCash - banned me immediately from said sub (source). In subsequent discussion (which repeated for every monthly "report" which was flawed in the same ways as described above), Hayden responded using the same tactics: "No data was removed"
"The guy is straight out lying. There is guaranteed no missing tx as the data was collected directly from the source." (source)
"Only data I considered non-retail was removed"
"I also had these data points and went through them to remove non-retail transactions, on both TravelbyBit and HULA." (source)
He admits to have removed non-BCH tx by "Game Ranger" because he considers them non-retail (source). He also implies they might be involved in money laundering and that TBB might fail their AML obligations in processing Game Ranger's transactions (source). The report does not mention any data being excluded at all and he still fails to explain why several businesses that are clearly retail (e.g. restaurants, cafes, markets) had tx excluded (source). "You are too late to prove I altered the data"
"[...] I recorded [the data] manually from https://travelbybit.com/stats/ over the month of September. The website only shows transactions from the last 7 days and then they disappear. No way for anyone to access stats beyond that." (source)
Proof of exclusion
I published raw data as extracted from the TBB site after each report for comparison. Hayden responded that I made those numbers up and that I was pulling numbers out of my ass. Since he was under the impression that
"The website only shows transactions from the last 7 days and then they disappear. No way for anyone to access stats beyond that." (source)
he felt confident to claim that I would be
unable to provide a source for the [missing] data and/or prove that that data was not already included in the report. (source)
Luckily for us Hayden Otto seems to dislike his competitor TravelByBit so much that he attempted to reframe Bitcoin's RBF feature as a vulnerability specific to TBB PoS system (source). While doublespending a merchant using the TBB PoS he wanted to prove that the merchant successfully registered the purchase as complete and thus exposed that the PoS sales history of TBB's merchants are available to the public (source), in his own words:
"You can literally access it from a public URL in the Web browser. There is no login or anything required, just type in the name of the merchant." (source)
As of yet it is unclear if this is intentional by TBB or if Hayden Ottos followed the rules of responsible disclosure before publishing this kind of data leak. As it happens, those sale histories do not only include the merchant and time of purchases, they even include the address the funds were sent to (in case of on-chain payments). This gives us an easy method to prove that the purchases from the TBB website missing in the reports belong to a specific retail business and actually happened - something that is impossible to prove for the alleged HULA txs. In order to make it easier for you to verify it yourself, we'll focus on a single day in the dataset, September 17th, 2019 as an example:
Hayden Otto's report claims 20 tx and $713.00 in total for that day (source)
The TBB website listed 40 tx and a total of $1032.90 (daily summary)
Paste the associated crypto on-chain address 17MrHiRcKzCyuKPtvtn7iZhAZxydX8raU9 in a blockchain explorer of your choice, e.g like this. This proves that a transfer of funds has actually happened.
I let software aggregate the TBB statistics with the public sale histories and you'll find at the bottom of this post a table with the on-chain addresses conveniently linked to blockchain explorers for our example date. The total of all 40 tx is $1032.90 instead of the $713.00 reported by Hayden. 17 tx of those have a corresponding on-chain address and thus have undeniable proof of $758.10. Of the remaining 23, 22 are on Lightning and one had no merchant history available. This is just for a single day, here is a comparison for the whole month.
TBB wo. Game Ranger
TBB according to Hayden
The usual shills will respond in a predictive manner: The data must be fake even though its proof is on-chain, I would need to provide more data but HULA can be trusted without any proof, if you include outliers BCH comes out ahead, yada, yada. But this is not important. I am not here to convince them and this post doesn't aim to. The tx numbers we are talking about are less than 0.005% of Bitcoin's global volume. If you can increase adoption in your area by 100% by just buying 2 coffees more per day you get a rough idea about how irrelevant the numbers are in comparison. What is relevant though and what this post aims to highlight is that BitcoinBCH.com and the media outlets around news.bitcoin.com flooding you with the BCH #1 narrative are playing dirty. They feel justified because they feel that Bitcoin/Core/Blockstream is playing dirty as well. I am not here to judge that but you as a reader of this sub should be aware that this is happening and that you are the target. When BitcoinBCH.com excludes $1,000 Bitcoin tx because of high value but includes $15,000 BCH tx because they are made by "professionals", you should be sceptical. When BitcoinBCH.com excludes game developers, travel businesses or craftsmen accepting Bitcoin because they don't have a physical store but include a lawyer practice accepting BCH, you should be sceptical. When BitcoinBCH.com excludes restaurants, bars and supermarkets accepting Bitcoin and when pressed reiterate that they excluded non-retail businesses without ever explaning why a restaurant shouldn't be considered reatil, you should be sceptical. When BitcoinBCH.com claims the reports have been audited but omit that the data acquisition was not part of the audit, you should be sceptical. I expect that BitcoinBCH.com will stop removing transactions from TBB for their reports now that it has been shown that their exclusion can be provably uncovered. I also expect that HULA's BCH numbers will rise accordingly to maintain a similar difference. Hayden Otto assumed that nobody could cross-check the TBB data. He was wrong. Nobody will be able to disprove his claims when HULA's BCH numbers rise as he continues to refuse their release. You should treat his claims accordingly. As usual, do your own research and draw your own conclusion. Sorry for the long read.
BitcoinBCH.com claimed no transactions were removed from the TBB dataset in their BCH #1 reports and that is impossible to prove the opposite.
Hayden Otto's reveals in a double spend attempt that a TBB merchant's sale history can be accessed publicly including the merchant's on-chain addresses.
This table shows 40 tx listed on the TBB site on sep 17th, including their on-chain addresses where applicable.
The BitcoinBCH.com report lists only 20 tx for the same day.
Crypto-Powered: Understanding Bitcoin, Ethereum, and DeFi
Until one understands the basics of this tech, they won’t be able to grasp or appreciate the impact it has on our digital bank, Genesis Block. https://reddit.com/link/ho4bif/video/n0euarkifu951/player This is the second post ofCrypto-Powered— a new series that examines what it means forGenesis Blockto be a digital bank that’s powered by crypto, blockchain, and decentralized protocols. --- Our previous post set the stage for this series. We discussed the state of consumer finance and how the success of today’s high-flying fintech unicorns will be short-lived as long as they’re building on legacy finance — a weak foundation that is ripe for massive disruption. Instead, the future of consumer finance belongs to those who are deeply familiar with blockchain tech & decentralized protocols, build on it as the foundation, and know how to take it to the world. Like Genesis Block. Today we begin our journey down the crypto rabbit hole. This post will be an important introduction for those still learning about Bitcoin, Ethereum, or DeFi (Decentralized Finance). This post (and the next few) will go into greater detail about how this technology gives Genesis Block an edge, a superpower, and an unfair advantage. Let’s dive in… https://preview.redd.it/1ugdxoqjfu951.jpg?width=650&format=pjpg&auto=webp&s=36edde1079c3cff5f6b15b8cd30e6c436626d5d8
Bitcoin: The First Cryptocurrency
There are plenty of online resources to learn about Bitcoin (Coinbase, Binance, Gemini, Naval, Alex Gladstein, Marc Andreessen, Chris Dixon). I don’t wanna spend a lot of time on that here, but let’s do a quick overview for those still getting ramped up. Cryptocurrency is the most popular use-case of blockchain technology today. And Bitcoin was the first cryptocurrency to be invented.
Bitcoin is the most decentralized of all crypto assets today — no government, company, or third party can control or censor it.
Bitcoin has two primary features (as do most other cryptocurrencies):
Send Value You can send value to anyone, anywhere in the world. Nobody can intercept, delay or stop it — not even governments or financial institutions. Unlike with traditional money transfers or bank wires, there are no layers of middlemen. This results in a process that is much more cost-efficient. Some popular use-cases include remittances and cross-border payments.
A few negative moments in Bitcoin’s history include the collapse of Mt. Gox — which resulted in hundreds of millions of customer funds being stolen — as well as Bitcoin’s role in dark markets like Silk Road — where Bitcoin arguably found its initial userbase. However, like most breakthrough technology, Bitcoin is neither good nor bad. It’s neutral. People can use it for good or they can use it for evil. Thankfully, it’s being used less and less for illicit activity. Criminals are starting to understand that transactions on a blockchain are public and traceable — it’s exactly the type of system they usually try to avoid. And it’s true, at this point “a lot more” crimes are actually committed with fiat than crypto. As a result, the perception of bitcoin and cryptocurrency has been changing over the years to a more positive light. Bitcoin has even started to enter the world of media & entertainment. It’s been mentioned in Hollywood films like Spiderman: Into the Spider-Verse and in songs from major artists like Eminem. It’s been mentioned in countless TV shows like Billions, The Simpsons, Big Bang Theory, Gray’s Anatomy, Family Guy, and more. As covid19 has ravaged economies and central banks have been printing money, Bitcoin has caught the attention of many legendary Wall Street investors like Paul Tudor Jones, saying that Bitcoin is a great bet against inflation (reminding him of Gold in the 1970s). Cash App already lets their 25M users buy Bitcoin. It’s rumored that PayPal and Venmo will soon let their 325M users start buying Bitcoin. Bitcoin is by far the most dominant cryptocurrency and is showing no signs of slowing down. For more than a decade it has delivered on its core use-cases — being able to send or store value.
At this point, Bitcoin has very much entered the zeitgeist of modern pop culture — at least in the West.
When Ethereum launched in 2015, it opened up a world of new possibilities and use-cases for crypto. With Ethereum Smart Contracts (i.e. applications), this exciting new digital money (cryptocurrency) became a lot less dumb. Developers could now build applications that go beyond the simple use-cases of “send value” & “store value.” They could program cryptocurrency to have rules, behavior, and logic to respond to different inputs. And always enforced by code. Additional reading on Ethereum fromLinda XieorVitalik Buterin.
Because these applications are built on blockchain technology (Ethereum), they preserve many of the same characteristics as Bitcoin: no one can stop, censor or shut down these apps because they are decentralized.
Just as tokens grew in popularity in 2017–2018, so did online marketplaces where these tokens could be bought, sold, and traded. This was a fledgling asset class — the merchants selling picks, axes, and shovels were finally starting to emerge.
I had a front-row seat — both as an investor and token creator. This was the Wild West with all the frontier drama & scandal that you’d expect.
Binance — now the world’s largest crypto exchange —was launched during this time. They along with many others (especially from Asia) made it really easy for speculators, traders, and degenerate gamblers to participate in these markets. Similar to other financial markets, the goal was straightforward: buy low and sell high. https://preview.redd.it/tytsu5jnfu951.jpg?width=600&format=pjpg&auto=webp&s=fe3425b7e4a71fa953b953f0c7f6eaff6504a0d1 That period left an embarrassing stain on our industry that we’ve still been trying to recover from. It was a period rampant with market manipulation, pump-and-dumps, and scams. To some extent, the crypto industry still suffers from that today, but it’s nothing compared to what it was then.
While the potential of getting filthy rich brought a lot of fly-by-nighters and charlatans into the industry, it also brought a lot of innovators, entrepreneurs, and builders.
The launch and growth of Ethereum has been an incredible technological breakthrough. As with past tech breakthroughs, it has led to a wave of innovation, experimentation, and development. The creativity around tokens, smart contracts, and decentralized applications has been fascinating to witness. Now a few years later, the fruits of those labors are starting to be realized.
I know that for the hardcore crypto people, what we covered today is nothing new. But for those who are still getting up to speed, welcome! I hope this was helpful and that it fuels your interest to learn more. Until you understand the basics of this technology, you won’t be able to fully appreciate the impact that it has on our new digital bank, Genesis Block. You won’t be able to understand the implications, how it relates, or how it helps. After today’s post, some of you probably have a lot more questions. What are specific examples or use-cases of DeFi? Why does it need to be on a blockchain? What benefits does it bring to Genesis Block and our users? In upcoming posts, we answer these questions. Today’s post was just Level 1. It set the foundation for where we’re headed next: even deeper down the crypto rabbit hole. --- Other Ways to Consume Today's Episode:
We have a lot more content coming. Be sure to follow our channels: https://genesisblock.com/follow/ Have you already downloaded the app? We're Genesis Block, a new digital bank that's powered by crypto & decentralized protocols. The app is live in the App Store (iOS & Android). Get the link to download at https://genesisblock.com/download
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AT2, a fairly new unknown tech to create a decentralized asset transfer system without blockchain. This week there was an article @ www.computing.co.uk. See below. link: https://www.computing.co.uk/feature/4017118/at2-answer-cryptocurrency-energy-performance AT2 paper: https://arxiv.org/pdf/1812.10844.pdf Could AT2 be the answer to cryptocurrency's energy and performance problems? Blockchains are slow, wasteful and ill-suited for digital currencies, say researchers who believe they've found a better way Blockchains solve a hard problem: how to ensure consensus across a distributed, decentralised network, where messages arrive out of order if at all, where individual nodes may fail, and where a certain proportion may be actively malicious. The original blockchain, bitcoin, was designed to support a novel digital currency, and the issue its consensus algorithm solved was preventing double-spend. It also successfully introduced game theory for security: adversaries would have to spend more money on an attack than they could expect to gain financially. All this and the original protocol was just a few hundred lines of code. But this achievement came at a high cost in terms of energy use and performance. With bitcoin, a new leader is required to verify each block of transactions, that leader being the first device to complete a computationally heavy challenge (Proof of Work, PoW). As a result, the blockchain's throughput is painfully slow at around seven transactions per second (Visa claims it can do 56,000) and the whole process is massively wasteful of energy. These drawbacks have been surmounted, to some degree, in newer blockchain designs using overlay networks, sharding and different types of "proofs of" and by non-blockchain directed acyclic graphs (DAGs), but each requires tradeoffs in terms of centralisation, complexity or security. A group of researchers led by computer scientist Professor Rachid Guerraoui of Swiss University Ecole Polytechnique Fédérale de Lausanne (EPFL) decided to look afresh at the problem. Is this gargantuan security apparatus, in which every node in a network of thousands or millions must come to a consensus about the ordering of events, really necessary everytime someone makes a purchase? Could a leaderless mechanism be applied to the problem instead? If so, could it be guaranteed to be reliably consistent, even when a certain number of nodes are malicious or faulty (Byzantine)? The headline answer, published in an initial paper last year, is that network-wide consensus is overkill for simple asset transfers. If cryptocurrencies could be rebooted, all the fossil fuels burned by miners of bitcoin and its clones could be left in the ground and Visa-level transaction speeds could be achieved without any loss of security or reliance on centralised control. As compact as Satoshi's original bitcoin protocol itself, the few hundred lines of code that make up their Asynchronous Trusted Transfers (AT2) algorithm could solve some of the tricky problems that have plagued decentralised token-based networks from the off. AT2 can be used to validate transactions within two different decentralised networking scenarios: (1) permissioned or small unpermissioned networks, and (2) global scale unpermissioned networks. In the first case, the algorithm uses quorum for validating actions, whereby a certain proportion of the network's nodes must agree an action is correct before it can take place. The second scenario, networks made up of very large number of machines (nodes), uses probabilistic sampling. Instead of asking all nodes it checks a number of randomly selected nodes for their viewpoint. This is much more efficient and scalable than the deterministic quorum but carries a tiny (ca. 10-15) possibility of failure. Doing away with network-wide consensus means AT2 sidesteps the bane of decentralised networks, the FLP Impossibility - the theory that in a fully asynchronous system, a deterministic consensus algorithm cannot be safe, live and fault-tolerant. Computing caught up with Matteo Monti, who worked on the statistical aspects of AT2, and by email with Guerraoui to find out more. We also spoke to David Irvine of networking firm MaidSafe, which has adopted AT2 to simplify its consensus process. Incentivising improvements We asked Monti (pictured) to summarise the innovation that AT2 brings to the table. "What we noticed is that there's a specific subclass of problems that can be solved on a decentralised, distributed network without requiring consensus," he said. "The main use for consensus at the moment, cryptocurrency transactions, is part of that class. We can solve this using a weaker abstraction and in doing so you gain the ability to work in a completely asynchronous environment." Bitcoin doesn't even solve consensus well. It solves eventual consensus which an even weaker abstraction, he added, whereas AT2 can guarantee strong eventual consistency. Another issue it tackles is PoW's incentivization model which means that improvements in technology do not translate into a better performing network. "With bitcoin, the bottleneck is always electricity. If everyone doubles their computational speed it's not going to change the efficiency of the network. Everyone's competing not to compute but to waste energy." In place of PoW, AT2 uses ‘Proof of Bandwidth', i.e. evidence of recent interaction, to verify that a node is real. Since it doesn't rely on consensus, the performance of AT2 should allow messaging speeds across the network that approach the theoretical maximum, and improvements in hardware will translate into better overall performance. Security measures Blockchains like bitcoin are extremely resilient against Sybil attacks; bitcoin is still running after all, in the face of unwavering opposition from powerful nation states and bankers. Sybil attacks are a major vulnerability in permissionless decentralised networks where anyone can join anonymously, but there are others too. Monti said the most challenging aspect of designing the AT2 algorithm was distilling all the potential types of dangerous Byzantine behaviour into a manageable set so they could be treated using probability theory. As a result of studying many possible failure scenarios, including Sybil, the algorithm is able to quickly react to deviations from the norm. Other security features flow from the fact that each network node needs to know only a limited amount about its counterparts for the system to function. For example, the randomness used in sampling operations is generated locally on the calling device rather than on the network, making this vector hard to utilise by an attacker looking to influence events. Signals are passed across the network via a messaging system called Byzantine Reliable Broadcasting (BRB) a gossip-based method by which nodes can quickly and reliably come to an agreement about a message even if some are Byzantine. As a result of these features, AT2 does not rely on economic game theory for security, said Monti. "I'd go as far as saying that the moment you need to implement an economic disadvantage to attacking the system, it means that you failed to make it impossible to attack the system. We don't care about your interests in attacking the system. What we want to achieve is a proof that no matter what you do, the system will not be compromised." ‘Crypto-Twitter' AT2 starts with the simple idea that rather than requiring the whole network to maintain a time-ordered record of my transactions (as with a blockchain or DAG), the only person who needs to keep that tally is me. If I decide to spend some money, I merely announce that fact to the network over BRB and this request will be held in a memory snapshot escrow. Depending on the network type, a representative sample or a quorum of other nodes then check my balance and inspect my ordered transaction history to ensure that the funds haven't already been spent (each transaction has a unique sequential ID) and provided all is correct the transaction is guaranteed to go through, even if up to a third of those validators are malicious. If I try to cheat, the transaction will be blocked. Monti likens a wallet on an AT2 network to a social media timeline. "What we've proved, essentially, is that you can have a cryptocurrency on Twitter," he explained. "A payment works in two steps. First, there's a withdrawal from my account via a tweet, then the second step is a deposit, or a retweet. I tweet a message saying I want to pay Bob. Bob then retweets this message on his own timeline, and in the act of retweeting he's depositing money in his account. "So everyone has their own independent timeline and while the messages - my tweets - are strictly ordered, that's only in my own timeline; I don't care about ordering relative to other timelines. If I try to pay someone else, it will be obvious by the sequence of tweets in my account, and my account only, whether I can perform that payment. "In contrast, consensus effectively squeezes all of the messages into a unique timeline on which everybody agrees. But this is overkill, you don't need it. We can prove that it still works even if the ordering is partial and not total, and this enables us to switch from consensus to reliable broadcast." But of course, nothing comes for free. AT2 can verify exchanges of tokenised assets, but aside from arrangements between a small number of opted-in parties, it does not have the ability to support smart contracts of the type that are viable on ethereum and other blockchains, because this does require network-wide consensus. Guerraoui said his team is working on "refinements and extensions" to support such functionality in the future. Early adopters AT2 is still pretty ‘cutting edge'. Three papers have been accepted for peer review the latest published in February, but it provides the sort of efficiencies and simplifications that could bring real progress. Guerraoui said AT2 has "received interest from many groups including companies ‘selling' blockchain approaches, as well as companies and organisations using such approaches". One organisation that has already picked up on the potential of AT2 is Scotland's MaidSafe, creator of the SAFE Network. MaidSafe is already using AT2 to replace its Parsec consensus algorithm, which testing showed was indeed overkill for many network operations. CEO David Irvine said he and his colleagues came across AT2 while working on another way of propagating changes to data without consensus, conflict-free data replicated types (CRDTs), promptly forked the code and started to apply it. SAFE, currently in Alpha, is a sharded network, meaning it's subdivided into small semi-autonomous sections. On a network level, the way it works is that trusted 'elder' nodes vote on a requested action then pass instructions to other sections to carry it out. AT2 allows the initial task of accumulating the votes for an action, which had been done by the elders using a consensus algorithm, to be moved off the network and onto the requesting client which is much more lightweight and efficient. Once a quorum of votes has been gathered, the client simply resubmits the request and the elders will ensure it's carried out. The system is much simpler and should be more secure too. "It's 200 lines of logic compared to 15,000 for a start," Irvine said. AT2 is not just used to validate token transfers. By the same mechanism, it can also be used to authorise requests to store or change data. Together with CRDTs, which guarantee that such changes cannot fail, this makes for a very tight and efficient ship, said Irvine. "AT2 is for us a missing link. The difficulty of several nodes agreeing is simplified by the initiator taking on the effort of accumulating quorum votes. It seems so simple but in fact, it's an amazing innovation. It certainly falls into the category of 'why didn't I think of that?'."
OVERVIEW Rarely has any technology such as blockchain attracted the public and media organisations. Institutions designed to catalyze the fourth industrial revolution are experimenting with technology, and investors have invested hundreds of millions of dollars in blockchain companies. This is a low-risk, experimental environment with error protection. Innovation is a combination of creativity and implementation. Ideas often must go through an evolutionary or cyclical phase before they are ready for commercialization. In fact, the cycle is so long that it is too expensive, inefficient in terms of time and money to generate and generate ideas, and in most cases almost never reaches commercial value. Thus, almost 99% of venture capital firms fail. A fast growing technology that has come to enhance the blockchain technology is CYPHERIUM. ￼ CHALLENGES FACING THE BLOCKCHAIN TECHNOLOGY The Bitcoin framework is one of the most notable usage of blockchain innovations in circulated exchange based frameworks. In Bitcoin, each system hub seeks the benefit of putting away a lot of at least one exchanges in another square of the blockchain by comprehending a complex computational math issue, here and there alluded to as a mining verification of-work (POW). Under current conditions, a lot of exchanges is ordinarily put away in another square of the Bitcoin blockchain at a pace of around one new square like clockwork, and each square has an inexact size of one megabyte (MB). As needs be, the Bitcoin framework is dependent upon a looming versatility issue: as it were 3 to 7 exchanges can be handled every second, which is far underneath the quantity of exchanges handled in other exchange based frameworks, for example, the roughly 30,000 exchanges for each second in the Visa™ exchange framework. The most huge disadvantage of the Nakamoto accord is its absence of irrevocability. Conclusion implies once an exchange or an activity is performed on the blockchain, it is for all time recorded on the blockchain and difficult to turn around. This is fundamental to the wellbeing of money related repayment frameworks as exchanges must not be saved once they are made. For Bitcoin's situation, noxious on-screen characters can alter the exchange history given enough hash power, causing a twofold spending assault, given that there is sufficient motivator and money related practicality to complete such assaults. Given that mining gear leasing and botnets are at present predominant around the world, such an assault has become achievable. Because of this absence of conclusiveness, Nakamoto accord must depend on additional measures, for example, confirmation of-work to forestall pernicious exercises. This hinders the capacity ofNakamoto accord to scale in light of the fact that a exchange must hang tight for various affirmations before coming to "probabilistic absolution". In this way, wellbeing isn't ensured by Nakamoto agreement, and so as to secure the system, each exchange must experience extra an ideal opportunity to process. For Bitcoin's situation, an exchange isn't considered last until in any event six affirmations. Since Bitcoin can just process a couple of exchanges every second, the exchange cost is preposterously high, making it unreasonable for little installments like shopping for food or eatery feasting. This extraordinarily frustrates Bitcoin's utilization as an installment strategy in this present reality. ￼ CYPHERIUM SOLUTIONS Cypherium's exclusive algorithm, CypherBFT conquers burdens of the earlier craftsmanship by giving a circulated exchange framework including a gathering of validator hubs that are known to each other in a system however are undefined to the next system hubs in the system. As utilized thus, the gathering of validator hubs might be alluded to as a "Board of trustees" of validator hubs. In a few explanations, the framework reconfigures at least one validator hubs in the Committee dependent on the consequences of confirmation of-work (POW) challenges. As per some uncovered epitomes, a system hub that isn't as of now a validator hub in the Committee might be added to the Committee on the off chance that it effectively finishes a POW challenge. In such an occasion, the system hub may turn into another validator hub in the Committee, supplanting a current validator hub. In elective epitomes, a system hub may become another validator hub in the Committee dependent on a proof-of-stake (POS) accord. In yet another epitome, a system hub may turn into another validator hub in the Committee dependent on a verification of-authority (POA) agreement. In other elective exemplifications, a system hub may turn into a new validator hub in the Committee dependent on a mix of any of POW, POA, and POS accord. ￼ In some revealed exemplifications, the new validator hub replaces a validator hub in the Committee. The substitution might be founded on a foreordained guideline known by all the hubs in the system. For model, the new validator hub may supplant the most established validator hub in the Committee. As indicated by another model, the new validator hub may supplant a validator hub that has been resolved to have gone disconnected, become bargained (e.g., hacked), fizzled (e.g., because of equipment breakdown), or in any case is inaccessible or not, at this point trusted. In the praiseworthy exemplifications, the circulated framework expect that for an adaptation to non-critical failure of f hubs, the Committee incorporates at any rate 3f +1 validator hubs. Since the validator hubs in the Committee might be every now and again supplanted, for instance, contingent upon the measure of time required to finish the POW challenges, it is hard for vindictive outsiders to identify the total arrangement of validator hubs in the Committee at some random time. ￼ BENEFITS OF CYPHERIUM BLOCKCHAIN TECHNOLOGY Cypherium runs its exclusive CypherBFT accord, tied down by the HotStuff calculation, and can genuinely offer moment irrevocability for its system clients. With its HotStuff-based structure, the CypherBFT's runtime keeps going just 20-30 milliseconds (ms). A few affirmations are all that is required to for all time acknowledge a proposed obstruct into the blockchain, and it just takes 90ms for these affirmations to come to pass, making the procedure essentially quicker than the two-minutes required by EOS. Cypherium's CypherBFT, which additionally uses HotStuff, doesn't have to pick between responsiveness and linearity. Cypherium's double blockchain structure incorporates the velocities of a dag, however its review for clients can occur a lot more straightforward and quicker, which adds to the accessibility of data and makes the data more decentralized. As per some revealed epitomes, the validator hubs in the Committee may get exchange demands from other system hubs, for instance, in a P2P organize. The Committee may incorporate at any rate one validator hub that fills in as a "Pioneer" validator hub; the other validator hubs might be alluded to as "Partner" validator hubs. The Leader hub might be changed occasionally, on request, or inconsistently by the individuals from the Committee. At the point when any validator hub gets another exchange demand from a non-validator hub in the system, the exchange solicitation might be sent to the entirety of the validator hubs in the Committee. Further to the unveiled epitomes, the Pioneer hub facilitates with the other Associate validator hubs to arrive at an accord of an attitude (e.g., acknowledge or dismiss) for an exchange square containing the exchange solicitation and communicates the accord to the whole P2P arrange. In the event that the accord is to acknowledge or in any case approve the exchange demand, the mentioned exchange might be included another square of a blockchain that is known to in any event a portion of the system hubs in the system. In conclusion, CYPHERIUM'S distributed smart-contracts block-chain is ideal for a good number of use cases which include (but not limited to): Finance Messaging Voting Notarization Digital Agreements (Contracts) Secure data storage A.I (Artificial Intelligence) IoT (Internet of Things To know more about CYPHERIUM kindly visit the following links: WEBSITE: https://cypherium.io/ GITHUB: https://github.com/cypherium WHITEPAPER: https://github.com/cypherium/patent/blob/maste15224.0003%20-%20FINAL%20Draft%20Application%20(originally%200003%20invention%201)%20single%20chain%20in%20pipeline.pdf TELEGRAM: https://t.me/cypherium_supergroup TWITTER: http://twitter.com/cypheriumchain FACEBOOK: https://www.facebook.com/CypheriumChain/ AUTHOR: Nwali Jennifer
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I’ve chosen to post this anonymously as I feel so embarrassed. … TLDR: I have watched our xrp transfer from our account to an account that is currently holding over $2.5 million in xrp. This is clearly a large operation. Details below: Use: https://xrpcharts.ripple.com/#/graph Our account: rfSYXEwYre349J3tBUhPvcawU5F2EGVN9a The account that stole our xrp: r9sGt5vtxFcSfK2xwX3HxAMWTPTHo1ZLEg The whale it was transferred to: rwpMvfxoodXggJ1g4qv6MWAPQqWDwQyHUW The Chrome app is no longer live. I have however seen it re-uploaded this morning and have reported it. If you do a search for Ledger in the Chrome Store tomorrow morning I am sure you will see it there. Original links to said app: https://chrome.google.com/webstore/detail/ledger-wallet/pbilbjpkfbfbackdcejdmhdfgeldakkn?utm_source=chrome-ntp-icon https://chrome.google.com/webstore/detail/ledger-live/opmelhjohnmenjibglddlpmbpbocohck/related?utm_source=chrome-ntp-icon … I’m self isolated as I am one of the many victims of Covid-19. I’m confined to a room in our house while my husband who is a key worker, continues to leave for work each day during the UK’s first lockdown. He’s an absolute hero, but I desperately wish our circumstances where different. I desperately wish I could just hug him. I have little but a laptop to keep me sane during the day at the minute, so I am frequenting Reddit often and keeping an eye on the crypto markets. Due to the situation right now money is tight, however I had worked out that by consolidating a few of our other crypto I would be able to recoup around 20% of our losses to help. We have our xrp stored in an offline Ledger Nano. The keywords are stored in a separate location and I knew never to divulge them to a 3rd party. Why I ended up doing just that, I can’t explain or understand. I can only put it down to the constant fever brought on by the virus. Believe me guys, this isn’t like flu! So… I begin the day by selling a load of our other crypto currency for bitcoin, sold some to help us and I then consolidate the remaining into xrp. I then load up our Ledger. It’s been a while since I last accessed our Ledger (2018), and have since changed my computer. I recalled the Ledger having a Chrome extension and this is when the scam starts. The only ledger extension on the Chrome store is one by the name of “Ledger Wallet” or “Ledger Live”. It claims to be from Ledger.com ® or Ledger Official ® and for all intents and purposes looks legitimate. It even had over 70 positive 4-5 star reviews, ranging from “Its a little difficult to operate” to “once I understood what to do it was easy”. Once you download the Chrome extension, it will ask for the version of Ledger you are using, followed by a screen prompting you to fill in your full set of keywords. I sat there typing each keyword out, double checking each one and not once did I think that this app wasn’t legitimate. I feel so very stupid. The app didn’t appear to work, so I downloaded a trusted wallet instead. I thought nothing of it and continued. At this point our Ledger contained 14,908 xrp. My husband and I had built this up as our nest egg since 2017. As I started to look into transferring the small amount of xrp I had recouped that morning, out of the corner of my eye, I watched as 14,889.740739 xrp vanished from our account. The entire process took less than 8 minutes. Due to the virus and shock, I believe I may have then fainted. I cant be sure. I have since filed a report with Ripple, the FBI and my local Fraud Police. My husband has been ridiculously understanding. He says its just money and right now our focus should be on getting better / staying safe. I feel devastated. I apologise for how long this post is. I guess I wanted to vent a little too. I’m so upset. ~ I hope you are all staying safe during this time x
I’ve chosen to post this anonymously as I feel so embarrassed. … TLDR: I have watched our xrp transfer from our account to an account that is currently holding over $2.5 million in xrp. This is clearly a large operation. Details below: Use to see: https://xrpcharts.ripple.com/#/graph Our account: rfSYXEwYre349J3tBUhPvcawU5F2EGVN9aThe account that stole our xrp: r9sGt5vtxFcSfK2xwX3HxAMWTPTHo1ZLEgThe whale it was transferred to: rwpMvfxoodXggJ1g4qv6MWAPQqWDwQyHUW The Chrome app is no longer live. I have however seen it re-uploaded this morning and have reported it. If you do a search for Ledger in the Chrome Store tomorrow morning I am sure you will see it there. Original links to said app: https://chrome.google.com/webstore/detail/ledger-wallet/pbilbjpkfbfbackdcejdmhdfgeldakkn?utm_source=chrome-ntp-icon https://chrome.google.com/webstore/detail/ledger-live/opmelhjohnmenjibglddlpmbpbocohck/related?utm_source=chrome-ntp-icon … I’m self isolated as I am one of the many victims of Covid-19. I’m confined to a room in our house while my husband who is a key worker, continues to leave for work each day during the UK’s first lockdown. He’s an absolute hero, but I desperately wish our circumstances where different. I desperately wish I could just hug him. I have little but a laptop to keep me sane during the day at the minute, so I am frequenting Reddit often and keeping an eye on the crypto markets. Due to the situation right now money is tight, however I had worked out that by consolidating a few of our other crypto I would be able to recoup around 20% of our losses to help. We have our xrp stored in an offline Ledger Nano. The keywords are stored in a separate location and I knew never to divulge them to a 3rd party. Why I ended up doing just that, I can’t explain or understand. I can only put it down to the constant fever brought on by the virus. Believe me guys, this isn’t like flu! So… I begin the day by selling a load of our other crypto currency for bitcoin, sold some to help us and I then consolidate the remaining into xrp. I then load up our Ledger. It’s been a while since I last accessed our Ledger (2018), and have since changed my computer. I recalled the Ledger having a Chrome extension and this is when the scam starts. The only ledger extension on the Chrome store is one by the name of “Ledger Wallet” or “Ledger Live”. It claims to be from Ledger.com ® or Ledger Official ® and for all intents and purposes looks legitimate. It even had over 70 positive 4-5 star reviews, ranging from “Its a little difficult to operate” to “once I understood what to do it was easy”. Once you download the Chrome extension, it will ask for the version of Ledger you are using, followed by a screen prompting you to fill in your full set of keywords. I sat there typing each keyword out, double checking each one and not once did I think that this app wasn’t legitimate. I feel so very stupid. The app didn’t appear to work, so I downloaded a trusted wallet instead. I thought nothing of it and continued.At this point our Ledger contained 14,908 xrp. My husband and I had built this up as our nest egg since 2017. As I started to look into transferring the small amount of xrp I had recouped that morning, out of the corner of my eye, I watched as 14,889.740739 xrp vanished from our account. The entire process took less than 8 minutes. Due to the virus and shock, I believe I may have then fainted. I cant be sure. I have since filed a report with Ripple, the FBI and my local Fraud Police. My husband has been ridiculously understanding. He says its just money and right now our focus should be on getting better / staying safe. I feel devastated. I apologise for how long this post is. I guess I wanted to vent a little too. I’m so upset. ~ I hope you are all staying safe during this time x EDIT: Just to let you know I posted this originally but the mods removed the post because of the age of my account. I’ve since thought “F*** it” and re-posted this to cryptocurrency on my main account u/leannekera Now the mods have re-posted this post from my anonymous account, which I appreciate as it helps gets the word out about this scam. I just wanted to explain as you may see this post elsewhere by my main account name.
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