Top Social Gainers for weekend of June 8th-9th, 2019
Here are the weekend's biggest developing stories in crypto based on Santiment's data:
Binance/safu/maintenance/disk/hacked/frozen (3167+ combined mentions in last 48 hours):
Over the weekend, Binance experienced a sudden trading halt and underwent an unscheduled temporary system maintenance. This led to the crowd speculating whether Binance was hacked yet again.
Binance eventually assured users that funds are SAFU, that the cause of this temporary shutdown was due to a disk failure detected by their system, which eventually shut down to prevent any data loss/corruption.
Apparently, the crowd didn't buy this either. Here are some of the crowd's response:
- Where backup redundant disk array? a disk drive failure can take down an exchange?
- if they are running servers that go down due to disk failure then im worried.
- disk failure is bullshit
- Lol, disk failure ? Cannot happen on proper maintained enterprise storage
But true to their word, Binance did get the exchange up and running within the given timeframe. So far there's no signs of any hack, trading is a running as per normal.
Bomb (364+ combined mentions in last 48 hours):
r/cryptocurrency saw a rush of new mentions of what is considered a meme coin called BOMB after seeing it go from $0.70 USD to an ATH of $7.76 USD (11x ROI) in less than a month.
So what is BOMB? According to their website:
BOMB is a social experiment and financial case study to measure the feasibility of a deflationary currency. The rules are simple.
There were originally 1,000,000 Bomb in existence.
Each time a Bomb is transferred, 1% of the transaction is destroyed.
There will never be newly minted Bomb.
The intention is not to be used for day-to-day transactions, but rather as a decentralized hedge against traditional inflationary instruments. Through a system of immutable smart contracts and continuous destruction, BOMB is the world’s first self-destructing currency.
The BOMB token was also airdropped to the community with each person being able to claim 100 BOMB tokens since February 2019. At that time, these 100 tokens were worth $38 USD. For anyone still hodling, it is now worth $770 USD. Not too shabby for magic internet money.
BOMB is currently traded on Mercatox and DDEX with decent amount of volume considering it is just a concept coin.
Other points to note about BOMB:
- BOMB tokens are indivisible. Minimum transaction is 1 BOMB.
- Minimum BOMB burned in each transaction made is 1 BOMB due to 0 decimals and rounding up.
This also means with each interaction with a DEX like DDEX, it accelerates the burn rate, as more people use the DEX to cash out. Very interesting experiment indeed, to see how each participant would react given the value creation process. With growth and trading volumes like that, it hard not to take notice.
Below are some of the crowd's reactions:
- Did aynone get in on that Bomb Token giveaway when it first came out. How many were they giving away initially, anyone know? I remember looking at it, thinking it sounded interesting but being too lazy too bother
- If bomb passes doge in market cap, I will get the little bombarino guy tattooed on my ass.
- Whoa... A $2b Marketcap for bomb puts it at over $2k per coin. Who'da thunk I could pay off my house with a coin I got for free.
Could BOMB be the next DOGE?
Wownero (20+ combined mentions in last 48 hours):
Reddit user OsrsNeedsF2p made a post on r/cryptocurrency on how jwinterm, the head mod of r/Cryptoccurency, is a developer of a shitcoin called Wownero. Perhaps insinuating that jwinterm might have a conflict of interest.
But it looks like the community was already informed several times before, nor did jwinterm hide the fact. As one user points out,
Hes said this multiple times and has never hidden that fact. He let the mods know when he started the coin, from what I know, hes never used his mod powers to boost wownero. Its a complete memecoin. I've known jwinterm for a few years now and the dude is pretty genuine. Furthermore, wownero is a good test for things like bulletproofs and the new randomx algorithm. For the amount you shitpost in the monero subreddit I'd think you have come across this by now.
EDIT: If you want to pick on jwinterm for something, do it for his hate of pineapple on pizza.
The crowd wasn't bothered by this "new revelation" and soon turn the post against itself. Below are some of the crowd reactions:
- Given I never heard of it till now, he does really bad job in promoting it. :D
- I've never seen anyone trying to push this coin as anything other than a meme coin that shouldnt be taken too seriously. I don't see a problem so long as he's upfront about it and doesn't abuse his position. I mean, have you been to their site?
- Lol this post has done more to bring awareness to Wownero than the mod ever did
- Unfortunately, some people (OP)just like to stir up unnecessary drama just for shits and giggles.
patch (34+ combined mentions in last 48 hours):
Reddit user Lefessan proposed a new amendment on Tezos called "Brest A" fix two issues. Firstly, a Tooling issue where amendment invoices in the Athens protocol made it difficult to track for external tools. Secondly, a security issue involving the rehashing performed during Athens protocol change being not enough to prevent certain attacks.
While what started out as a harmless proposal for the betterment of Tezos, soon turned into criticism on why wasn't this submitted via the bug bounty, and how the revealing the security patch publicly with the amendment was irresponsible on Lefessan's part.
In his defense, Lefessan pointed out that this was only done following the lack of communication from HAckerOne, the folks that handled the bug bounty program, after two months.
Here are some of the Reddit comments:
- If you are sincere then you would not reveal publicly the patch in an amendment proposal 3 months it can be deployed through the on-chain mechanism.
- Guys - it's a pity to see the communication between OcamlPro and Nomadic/others is still not improved. If not working together, at least try to avoid working on the same things. A bit of overlap is OK for control purpose, but there's a ton of work to do still (formal verification, layer 2 state channels/marigold, prediction markets, token standards, etc.) so let's divide the work and make the project move forward together. The community will be grateful (and willing to inflation fund)!
- Why does he need to consult or coordinate with other developers? The whole point of Tezos is we, the stakeholders, get to decide. If we deem the amendment worthwhile, we will vote to pass it. If you don’t like the proposal, vote against it. It’s useful to debate the merit of a proposal, not on who or when the proposal is submitted. You, too, can submit your own proposal.
With several groups of developers working on the improving Tezos, it can be hard to keep track of who's doing what and it seems that these groups do not necessarily communicate with each other. Hopefully this is just one of the teething troubles that comes with decentralization.