Tag Archives: eos

G and M Asset Management Interview with Founders

In this special episode of NeoCash Radio JJ interviews Evan Gruss and Ryan Myher the founders of G & M Asset Management a crypto trading fund that is finalizing an overseas business. Evan and Ryan are finance major college students and have been day trading cryptocurrencies for the last 8 months or so. They are looking for more clients. Visit their website at https://www.gminvestmentsgroup.com/ or contact them at info@gminvestmentsgroup.com

Tell them you heard their interview on NeoCash Radio for a special offer!
Music: “Sing to the World” by PC-ONE



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Beware EOS and NEO

Both EOS and NEO have been billed as the ethereum-killer and both have had concerted hype machines behind them. They are both building smart contract blockchains that hope to offer the same level of service as the current Ethereum Public Blockchain but with more throughput. Scaling is the buzzword of the month and EOS and NEO aim to achieve higher transactions per second by using a delegated proof of stake or delegated Byzantine Fault Tolerance method.



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Delegated proof of stake is a system where a limited number of Block producers actually stake coin to validate and create blocks. In the case of EOS the Block Producers is set at 21 initially. Those 21 nodes stake EOS coin and are granted the privilege of creating blocks and capturing the block rewards.

EOS coin holders can vote for which nodes are staking through a 1 token = 1 vote method. Now these EOS coins should not be confused with the EOS ERC20 token. The EOS website is very clear “The EOS Tokens do not have any rights, uses, purpose, attributes, functionalities or features, express or implied, including, without limitation, any uses, purpose, attributes, functionalities or features on the EOS Platform.”

Those that have bought the EOS ERC20 may have very well been scammed out of their ethereum.

NEO is using a slightly different consensus method call delegated Byzantine Fault Tolerance. This refers to an agreement problem involving trusting third parties and dealing with bad actors. The byzantine generals problem has been a big issue for many years {clip}.

So if satoshi solved the generals problem though the Nakamoto consensus why are back at this problem? Scaling. In a race to be the one blockchain that rules them all many scaling methods are being attempted. The big issue with the dBFT that NEO is using is two parts.

The system only needs 66% agreement.
The system is starting out with a handpicked 7 validator nodes. Chosen by the NEO developers because they hold 51% of the coins.

This is a huge red flag. The developers effectively have a 51% attack on the NEO blockchain. They control enough coin to pick the nodes regardless of votes, and the nodes they pick can choose to accept or reject whichever transactions or smart contracts they wish. There is no recourse. Even if the public NEO holders voted for a different node they only have 49% of the votes at most.

This is not a blockchain I trust or recommend. Even if more validator nodes were allowed the token distribution effectively squelches any dissenting opinions.

Even if the tokens were distributed more widely and more publically there would still be huge issues. With both EOS and NEO the voting to select a block validator process is fatally flawed from the onset. First and most importantly, most people don’t vote. Even when incentivised the turnout is almost always less than 50%. Second, votes can be bought and sold for money, social capital, or promises of future favors. Finally voting typically and most assuredly in the case of these two blockchains results in a plutocracy where the whales make the decisions. None of these are better than what we have now with the current consensus methods employed by Ethereum or Dash or Bitcoin Cash.

Furthermore I am very interested to see how the EOS ethereum token transfers over to the EOS platform. If there is not a direct 1 to 1 transfer then the fundraiser regardless of disclaimers is fraudulent. Be careful out there. Anyone can buy hype, anyone can make claims, but not everyone delivers.

Music: “Out of the Skies Under the Earth” by Chris Zabriskie

Ep246: More AML Hand Wringing, John Oliver Takes on Crypto

In this episode Darren and JJ discuss the anti-money laundering boogieman at the G20 summit. Circle rolls out a trading app just one week after buying Poloniex. Google is set to ban crypto ads as of June 1st. Last Week Tonight with John Oliver talks about crypto and does pretty well.



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Bumper music by: Lamprey
Song: Stuck up
http://freemusicarchive.org/music/Lamprey/The_Greener_Grass/Stuck_Up


Crypto Trading Warning Label Video

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Welcome to the wonderful world of cryptocurrency trading and HODLing! Before you amass your fortune which will then go to the moon there are a few things you should know:

First, don’t day trade crypto! You will probably lose money.

Second, don’t leave your crypto on the exchanges.

Third, do use 2 factor authentication if available.

Fourth, create a unique password for each exchange. And backup your wallets!

Fifth, You ought to be aware of the laws and regulations in your local jurisdiction even if you have no plans in adhering to them.

Sixth, diversify and hedge.

Seventh, buy low, sell high means buy when the coin is at a low or down, sell when it is up especially if it is a new all-time-high.

Eighth, Seriously, if you don’t know what you ought to buy, don’t buy crypto.

Ninth, there is a lot of volatility. HODLing is not always the best answer.

Tenth, You don’t know what is going to happen, no one does.

Now that we’ve covered those points you are ready to head out into the world of crypto trading. Best of luck navigating the chaotic, irrational, and nonsensical waters of cutting-edge fintech.


Intro music: Battle Boss by BoxCat Games
Outro music: Bacterial Love by Rolemusic


Bitcoin Ethereum Ripple Bitcoin Cash Litecoin Cardano Stellar NEO EOS IOTA Dash NEM Monero Ethereum Classic Lisk TRON Qtum VeChain Tether Bitcoin Gold ICON Zcash OmiseGO Nano Steem Binance Coin Bytecoin Populous Stratis Verge Siacoin Status RChain Dogecoin U.CASH BitShares Maker Waves Aeternity Revain Waltonchain Augur Veritaseum Hshare 0x ZClassic Decred KuCoin Shares Ardor DigixDAO Electroneum Komodo Ark Byteball Bytes Dragonchain Gas DigiByte BAT Loopring Bytom Kyber Network Zilliqa Dentacoin Golem PIVX Syscoin QASH Cryptonex Nebulas aelf Ethos Bitcore Pillar GXShares Power Ledger IOStoken Factom Dent MonaCoin Aion Cindicator Polymath FunFair ZCoin SALT Enigma ReddCoin Kin Nxt Bancor Particl TenX MaidSafeCoin ChainLink SmartCash
Request Network Quantstamp Ignis Emercoin

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Ep 213: South Korea Hack Attack, Buying Soap with Altcoins, Plus How Can We Educate the Crypto-Curious?

South Korea hack attack. Will SK legislature regulate crypto? Switzerland goes Fintech friendly. EOS: Hype or Hero? Monaco fixes flaw and reissues tokens. PorcFest soap merchant accepts crypto. DASH unveils new depository “dips.” The hosts ask for your suggestions and feedback.

All this and more on the Neocash Radio podcast, episode 213 — Wednesday, July 5th, 2017!

We’ve written out short overviews of the topics discussed on today’s show below! Be sure to listen in to the whole podcast to get more information, insights, and thoughts on each of them from JJ and Pedro!


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Subscribe to the Neocash Radio podcast
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Traditional Financial Markets Cryptocurrency Markets
Gold $1,227 Bitcoin (BTC) $2,607
Silver $16.07 Ethereum (ETH) $269
Oil $45.62 DASH $210
Dow Jones 21,478 points Litecoin (LTC) $52.50
30Y UST Yield 2.84%

Continue reading Ep 213: South Korea Hack Attack, Buying Soap with Altcoins, Plus How Can We Educate the Crypto-Curious?