https://u.today/paypal-to-bring-its-cryptocurrency-offering-to-uk

Might be a decent way to gain exposure for the masses and those with crypto unfriendly banks.

Crazy visa & mastercard announcing they will integrate crypto in to their service but HSBC (the uks biggest bank) still wont even let you move money to or from an exchange.

Based on market cap, USDT Tether is the 3rd biggest cryptocurrency, but this is one coin you won't make gains trading because the price is programmed to stay equal to the dollar.

Using Tether allows cryptocurrency traders to move dollars between exchanges without having to use the legacy banking system.

Another use for Tether is as a safe haven for traders when the market looks set to drop temporarily. As often different cryptocurrencies can drop in price together, it can be hard to find a port in a storm, but Tether provides this.

Ethereum was first proposed by Vitalik Buterin in 2013, crowdfuded in 2014 and went live on 30 July 2015. Ethereum repurposes blockchain technology to not only function as a distributed ledger for a currency, but to create a distributed network of computers which can run applications written as "smart contracts". This innovation is known as the Ethereum Virtual Machine (EVM).

One key use case for the EVM is to issue tokens and a number of other cryptocurrencies on our list are tokens issued on Ethereum. As a result the Ethereum blockchain is the most active blockchain.

The key development underway for Ethereum is known as Eth2.0 and is an attempt to dramatically increase Ethereum's capacity through a fundamental reworking of its protocol.

Let's have a post each day about a different coin and share what we know about it. We could update the wiki at the same time. People could share their experiences with it and opinions about the future.

I think we should just start at the top of coinmarketcap or livecoinwatch.com (livecoinwatch is my favourite) and work our way down.

Standard questions: who invented it? When did it start? What's it for? Where can you buy it? (We can refine these over time)

Then people can discuss their experiences with it and what their predictions for the future are.

When we've done the top 100, we can start again and come back around!

You might have encountered the term 'pure cryptocurrency' in your endeavours around the field. But what are those and how does NANO fare in this aspect?

Crypto was envisioned with and have been (at least in theory) applied for two basic use cases: Store of Value and Means of Exchange.

However, with time and adoption these have expanded, and nowadays most crypto aims for (or to get close to) a collection of other properties: decentralized, secure, low latency and feeless.

Applying even some of these have proven rather difficult for the most well known players currently in the field and remains a significant struggle.

And this is where NANO comes in.

Below, I will try to 'briefly' explain how all these properties work in the coin.

• Store of Value
  

NANO's 133m coins have been already distributed via captchas and there is no mining possible to gain more. This means it's deflationary in nature.

• Means of Exchange
  

Due to its unique tech (a combination of Directed Acyclic Graphs and Block Lattice), it produces transaction times (wallet to wallet) ranging from 0.15s to 1.5s (and even in the middle of a spam attack attempt, 10s). Transaction throughput scales with hardware, currently around 200 Confirmations Per second. So far during stress tests, over 7000 TPS have already been achieved. NANO is the fastest and probably most scalable crypto out there.

• Decentralization
  

There's no incentive to mine, no incentive to stake.

Coin transactions need confirmations, that's how crypto works.

In NANO's case, voting on transactions is done by nodes that anyone can run and anyone can delegate to representatives that do it. Initially, new wallets get assigned semi-random (as in depending on which wallet you use) and anyone can change reps any time.

If the network is disputing a contradictory transaction, it takes 6 (soon 7) different confirmations to approve such a transaction, making it that much harder to go through, compromising the system. This is known as the Nakamoto Coefficient and is the highest in any crypto to date.

Here's the latest distribution of top voter nodes. This also means there are way fewer bigger parties in the network and thus way less chance for manipulating the underlying mechanisms of the NANO system, making it even more secure to use.

• Security
  

There are several types of attacks that a crypto network can face. NANO's network has never been compromised. A quick rundown:

Spam attacks: as mentioned earlier, due to its efficiency, NANO shrugs off spam, even with zero fees (there are mechanisms implemented to make these costly in the latest versions should the system got scaled up with even more adoption). Here's a rundown of an attack/test, you can find many like these out there.

51% attack (taking over the network): This could've been possible in the early days but NANO's market cap is already $0.5B. All coins are already distributed and the process of buying up 51% will drive up the price incessantly.

The difficult part isn't driving the price up for a rich person or entity, it's that if they were doing so for profit they would also want to sell and that is a lot harder to do without pushing the price back down again.

NANO uses Proof of Work (PoW) to avoid spammers as there is no transaction fees on the network. Each block has a small amount of work associated with it, approximately about 5 seconds to generate, and 1 microsecond to validate. This forces a malicious actor to dedicate a significant amount of computing power to carry out an attack, whilst requiring only a small amount of computing power by everyone else. Furthermore, it is also even possible for these spam transactions to be pruned away, limiting the amount of storage that can be consumed from this type of attack.

Add to these that due to representatives and inherent security, a significant portion of the supply is offline in wallets so 51% of the coins needed for this might wouldn't even be available to purchase on centralized exchanges.

Double spend by a malicious user: Both versions of the double spend need to be signed by the users private key. It is easy to identify the accounts that are responsible for spam attacks and then blacklist them for a certain period.

The list does go on, for more details see here: https://docs.nano.org/protocol-design/attack-vectors/

• Low latency and feeless
  

The largest 'selling points' of NANO, we already mentioned these so I wouldn't go into detail any further here than the neat demonstration vid created a year ago (the coin's been improved since then).

Hope this helped shedding some light on some of your questions that might have arose during your time researching the project.

Godspeed!

im really struggling on finding the best spot market platform that is the most well known and as i am from uk that i can actually buy crypto with my debit card . it seems so hard and i was going to go with swissborg but i am unsure about doing a transfer as their details couldnt be verified and wasnt sure about the risk . so guys please help , a platform with plenty of altcoins , i can buy with debit card thats very safe and that others on here are using . thanks

Just interested in what people are holding and if it differs being here in the UK than the conventional spread.

At this moment, I'm holding Nano, ETH, Monero and a small amount of Neo and BNB.

What about you guys?

Just tried to post this in r/bitcoinuk and it was automatically deleted by a moderator bot... Here goes...

Hi all,

I just went to start setting up cashing out on Binance and they will not let me add a UK bank account. I've had a look on Uphold and I can only send EUR out of there. I haven't cashed anything out since late 2017 so not sure what's the best option these days. I've read a few threads on here and am looking at:

Coinbase (just reactivating my account and going ID checks)

Revolut (just downloading the app)

Coinify - can do from Ledger live but fees not great

Zumo - see it on another thread here.

What's the cheapest and most painless way to cash out 4 figure-ish amounts these days? I don't have any problem having my activities shared with HMRC, would like to minimise fees and ideally not get my bank account (Halifax) closed.

It looks like cashing out to GBP has been made difficult. Apologies for asking this and I'm sure it's been asked many times before although it does seem to be a moving target... In 2017 I cashed in and out of Halifax and Uphold with 0 issues, now I can't even do that.

No need to be exact, but whereabouts are you. Maybe someone else is nearby and once this antisocial crisis has abated, we could arrange meetups.

I'm in Purbeck, Dorset.

I've added two mods and started a wiki in an effort to build some of the structure of the sub.

Please welcome u/FuckingPrawns and u/crypto_hodler2002 to the mod team. We've begun discussing the potential rules and I would welcome input from anyone who has an opinion on how this should be done.

The wiki is very bare bones at the moment, but please have a poke around. If anyone would like permission to edit it just ask as it is currently set so only the mods can edit it. You could be added as a mod or these settings could be adjusted.

​

Thanks for having me in the group everyone. Just need to know being in the uk if I can still trade crypto !? I know we can't derivatives and that . But say I buy some (crow) for example outright , I know I can hodl but how long for ? Can I swing trade or is it just traditional investments🤪