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For Trading Dec 11 market update..

Market Strategies Newsletter - Special Daily Edition
For Trading December 11th
FED DAY
Trump Impeachment Moves Forward
Questions about Tariffs
Join Us Every Day, Link Below
Today’s market was another boring affair with questions about the end of the week tariffs, the typical pre-Fed decision, regardless of the known result, and the general lack of any real meaning to the Impeachment moving forward. We made the low -105 within the first 15 minutes and then rallied to the high +40 by 11:15. The rest of the day was like watching paint dry with moves of 25 in each direction dominating the trading. At the close the DJIA was -27.88 (.10%), NASDAQ -5.66 (.07%), S&P 500 -3.44 (.11%), the Russell +2.10 (.13%) and the DJ Transports the big loser -46.64 (.44%). The economic numbers today were unimpressive with non-farm productivity declined by .2% while unit labor costs increased 2.5%, cause to expect margin pressures for business. Tomorrow we have the FMOC decision (yawn), CPI, and MBA mortgage applications. Market internals were as you would expect at 1:1. The DJIA was 16 up, 14 lower with the BA -21 and MMM -15DPs. On the upside we had UNH +14 and AAPL +11DPs.
Our “open forum” on Discord, which allows me to interact with subscribers and others to allow direct questions and chart opinions on just about any stock, continues to grow with more participants every day. It is informative and allows me to share insights as the market is open and moving. The link is: https://discord.gg/ATvC7YZ and I will be there and active from before the open and all day. It’s a great place to share ideas and gain some insights.
SECTORS: Other names in the news: We started with the news from AutoZone: AZO with a beat top and bottom and solid guidance. The stock finished $1,250 +81.00 (6.9%) followed by SFIX with good numbers last night and gave up a little of the late gains but finished the day +1.21 (4.8%). NFLX was downgraded by Needham based on their projections for a loss of up to 4 million U.S. subs. The stock, down from $385 mid-July fell another $9.38 (3.1%) to close $293.12. Conn’s, the furniture and consumer electronics retailer, was downgraded by KeyBanc after the Q3 earnings report. The stock, which went from $6.00 in late 2016 to trade higher for a 2 year move to $42.65, has made the round-trip and finished the day today $13.65 -6.85 (33.41%). FRAN, the fashion apparel firm, in the middle of a turn-around plan reported improved, but not good enough for Wall Street, fell to $12.44 -7.39 (37.27%).
Also reporting after the close was GameStop: GME, the seller of electronic games and has already fallen from a peak of $57.74 in late 2013 in a steady decline to $3.28 before a brief rally back to $6.92 missed (again) and after closing $6.51, fell as low as $5.00 before finishing $5.57 -.94 (14.4%). This company looks to me like a death-spiral after missing the move away from over the counter sales to streaming of the game products.
BIOPHARMA: was HIGHER with only MYL -.33, and TEVA - .33 (3.38%) the losers. The biggest gainer was ICPT +4.01 (3.62%), followed by LABU +2.00 (3.53%). The IBB was $120.10 +.69 (.58%).
CANNABIS: stocks were LOWER again as GWPH, the only pharma company in the group +$6.36 (6.62%). The biggest loser was PYX -.65 (8.66%), and yesterday’s big winner CGC -1.24 (5.82%). Even KERN, the compliance software firm was lower today 11.60 -.29 (2.46%). Since mid-November, the stock has moved from $6.00 to trade as high as $13.50. MJ was $17.07 -.33 (1.9%).
DEFENSE: was MIXED with LMT +2.01, GD -2.89, TXT -.27, UTX -.82, NOC +.45, BWXT -.25, TDY +2.39, ITA $226.53 -.52 (.23%).
RETAIL was MIXED with the stores higher and the brands lower. M +.24, JWN + .29, KSS unchanged and DDS +1.28. RL was +.75, UAA -.03, LULU -.78, TPR -.27, CPRI -.61 and XRT $44.91 -.02 (.04%).
FAANG and Big Cap: were MIXED with GOOGL -.10, AMZN – 10.51, AAPL +1.58, FB -.47, NFLX (see above) -9.39 (3.1%), NVDA +1.56, TSLA +9.47 (2.79%), BABA +1.56, BIDU -.26, BOX -.05, IBM -.22, BA -3.31, CAT +.04 and XLK $87.37 +.07 (.08%).
FINANCIALS were MIXED with GS - .01, JPM - .01, BAC - .02, MS -.05, C +.45, PNC +1.90, AIG -.59, TRV +.09, AXP +.44 and XLF $30.30 +.01 (.03%).
OIL, $59.24 + .22. Today’s action was mostly just a quiet day for Oil and the other energy markets. Nat Gas was a shade higher and the stocks were mixed. I’m still interested in getting long UNG, but I’d like to see a bit of stability first, or at least a test of yesterday’s low. XLE was $59.77 + .12 (.20%).
METALS, GOLD: $1,468.10 +3.20. We have fallen right back down to the most recent, and most important area of support around $1,450. I think we can see another test of $1,490 -$1,500 again. Current range is between 1450 -1490.
BITCOIN: closed $7,215 -105. We broke to the upside but ran into a brick wall just under $8,000. After having a GTC order @ $9.85 since we sold on 11/5, we finally got filled on the first 350 shares. I will add another 400 either higher or lower. GBTC closed $8.67 - .13 today.
Tomorrow is another day.
CAM
submitted by Dashover to swingtrading [link] [comments]

Cryptocurrencies and the circle of competence

A quick note to investors that believe the intrinsic value of bitcoin is 0 because they can't do a DCF on it: this isn't the place to argue with me about it. I suggest you read a bit more about what it actually is (hint: not a currency). I've defended its value in plenty of other posts on this sub. It's a $40+ billion market, so at least a few people agree with me. I welcome you to short the crypto of your choice if you think it's worth nothing. This is a post for folks that believe that cryptocurrencies have at least some discernible value and are considering investing in them.
If we have a strength, it is in recognizing when we are operating well within our circle of competence and when we are approaching the perimeter. – Warren Buffett
Given the tripling of the cryptocurrency market cap in the last few months and the 3- to 10-fold increases in virtually every major altcoin, cryptocurrencies like Ethereum and of course Bitcoin have been getting a stunning amount of attention in the press and on this subreddit recently.
If you follow the cryptocurrency world closely, you know that there have been a huge amount of dubious ICOs (initial coin offerings) on the market recently. It's an explosive time in crypto.
It's also a frustrating time for many long term bitcoiners and crypto fans, because we're faced with a barrage of questions from outsiders who see the returns and want to buy in to the "next big thing" and make a quick buck. This is a warning to those people.
Everyone is a genius is a rising market. It's hard to go wrong these days in crypto. Even coins of dubious merit like Ripple, Dogecoin, Stellar, NEM were pumped 5 times without any fundamental change. Speculators/investors have thrown money at crypto indiscriminately and efficient markets have 100% broken down. The altcoin pump right now is roughly comparable to the Dot Com crisis of the early 2000s.
  1. New tech promises to change the world
  2. Investors jump in on hype and promises
  3. A surge of IPOs (ICOs) occurs to capitalize on this
  4. "Greater fool" traders pile in, thinking they can make money even if the underlying is unsound
  5. Analysts claim "this time is different" while seasoned old hands refuse to participate
  6. Tech is proven not to be as developed as everyone thinks, market tanks
  7. Select few decent companies survive, all the trash is destroyed
  8. Tech eventually fulfills expectations, 10 years later, but none of the investors from the early days make money on it
However, canny (and skeptical) investors can still make money on crypto, as cryptocurrencies are inevitable, and will continue to expand and proliferate, even when the altcoin crash comes.
Something to realize first of all is that the crypto market is heterogeneous. It has straightforward cryptocurrencies (bitcoin, litecoin, dash, monero), smart-contract cryptos (ethereum, ethereum classic) and a whole bunch of crypto tokens that follow dedicated platforms (golem, augur, steem). Not mentioned are ripple and stellar because they aren't really cryptocurrencies at all.
The investing theses for all of these categories is radically different. The measure of success for a currency or store of value is adoption, merchant use, low volatility, a large network, and real world acceptance as something worth owning. Bitcoin has this right now, which is why it's more than 50% of the ecosystem, and none of its competitors are even close. Monero, Zcash, and Dash are a special case in that they try and make transactions anonymous and privacy, allowing for use cases on the darknet markets, for instance.
The tech underlying bitcoin is essentially sound, although it is having a scalability crisis, which you should read about. It can't right now serve as a currency which will buy you a cup of coffee - the transaction fees are too high. However if you want to send $200,000 from Mexico to Indonesia or China to the Philippines, you can do it within 20 minutes, and with fees of a few dollars. And if you want to store your wealth in a vault that is totally secure, and cannot be debased by a central bank, bitcoin is a good bet. This is highly relevant to folks in India that just had cash abolished, to Venezuelans, to Argentines, to Cypriots, to Nigerians, anywhere local currencies are weak and volatile. The potential value of a competing cryptocurrency lies in whether it can improve materially on bitcoin, whether it means incorporating off-chain scaling (segwit with litecoin), making it more private and fungible (monero), automating governance (decred), and so on.
Then there are cryptoassets that incorporate smart contracts. These – ethereum and its derivatives – exploded when the SEC denied the Bitcoin ETF back in march and bitcoiners got worried and started diversifying. This is the market segment that is highly risky, even by crypto standards, in my opinion. Ethereum is a protocol that allows contracts to self-enforce. Programming power to run the contracts is paid for with ethereum. Two parties agree to a contract, and it then self-executes. It's secured by a decentralized computing network of ethereum miners, so the contracts cannot be shut down by a government or corporation. It's pretty clever. Last year, a $150+ million contract was drawn up with ethereum, which would act like a venture capital fund, picking good investments just based on the votes of the token holders. This was called a Decentralized Autonomous Organization, and it was hacked before it could do anything. Well, it was exploited based on the code and so the exploit was totally "fair" given that the contract was meant to be inevitable, once agreed to. However, the creators of Ethereum didn't like the idea of losing $50 million, so they decided to collectively agree to amend the rules of the protocol itself (violating "Code is Law"), and jump onto a new one, which they would also call Ethereum, although it was really Ethereum 2.0. Some people got upset by this, because they thought that immutability and not arbitrarily rolling back the code was more important than some investors losing money because of poorly written code. They created Ethereum Classic, which is the original Ethereum chain. This wasn't what the Ethereum 2.0 folks thought would happen, but it did happen, so there are two competing Ethereum chains now.
Eventually, lots of decentralized apps were funded, via tokensales. A development team would say: "we're going to use ethereum to create a decentralized cloud computing/AI/prediction/gambling/timestamping/social media network." And then investors would buy the tokens, expecting that eventually the dev team would deliver, and the tokens would be in demand, since they would be required to use the network. It's a bit like buying in-game-currency when the game is announced, anticipating that the game would be wildly popular and you'd be able to sell it on later at a profit or acquire it cheaply to buy in-game items later on. However, many of us think that the promises are a bit extravagant, and that investors in these ICOs are probably going to lose money. The incentives aren't well aligned. Founders can just not deliver and run off with the money, and there's no regulatory body to enforce that. And for Ethereum more broadly, many people are worried that the turing-completeness of the language will mean it will face serious threats and unforeseeable hacks, like with the DAO. Finally, Ethereum has increased from around $20 to $90 in a matter of months, which raises the question of whether a) the market realized its true value or b) it was pumped on speculation. There's a huge set of unknowns with a smart contract currency, and virtually none of the promised dapps are up and running right now, and the ones that are haven't really attracted large userbases or delivered. This is because the tech is in its infancy, and the developers are still learning how to use it properly. So we won't know if these sorts of decentralized networks are even possible to create on the timelines that investors are expecting. Therefore, ethereum investors buying it on the promise of the realization of this tech in the near future are almost guaranteed to be disappointed. Additionally, ethereum is making the switch to the largely untested Proof of Stake algorithm, which will change incentives that secure the network. This brings me to my key point:
Stay within your circle of competence. You can grow your circle – slowly. Cryptoassets are almost impossibly complex to grasp with just a cursory look. Investing in them requires weeks of reading and a very skeptical view.
The above was an introduction to cryptocurrencies, the different ones on offer, and why investing in ethereum is not the slam dunk everyone thinks it is. This portion of the post will tell you about the kind of due diligence you need to do if you want to invest, rather than speculate, in crypto.
The first thing to mention is that passive investing in crypto has historically been a terrible strategy. Just buying bitcoin almost always outperformed. This was due to the poor set of altcoins, and the size of bitcoin's almost insurmountable network effect. This sort of changed in March and April when bitcoin's dominance went from 80% to ~50%, and it remains to be seen if this will persist or not. But the point is, buying the index is usually an awful strategy in crypto, particularly because there are so many truly awful projects out there.
So what does it take to invest responsibly in cryptocurrencies? It requires at least a basic understanding of three disciplines: public-private key cryptography; programming, and how open-source projects function; and economics, particularly game theory and the quantity theory of money. This is why is is so difficult to apprehend easily: because very few people actually boast a sincere understanding of these three topics. I certainly don't.
You need to be able to determine whether the tech is actually going anywhere, and whether the task the developers have set themselves is possible or realistic. You need to know how open source networks are governed, and which models strike the best balance between efficiency of decision-making and fair consensus. You need to be able to measure the inflation schedule of the cryptocurrency, and see whether your coins are going to inflated away. You need to be able to make plausible guesses about the potential market for the crypto and estimate future values. Note that the payoff structure is not equity-like. It's more like early stage venture capital, or buying loss-making biotech companies. Here's my checklist of questions to answer, ordered by importance:
  • Does the project offer a significant improvement over its nearest competitor, or a reasonable chance of success in its stated aim? Is there a demand for this project? Does it have a concise and reasonable goal? (Narrower goal: higher likelihood of success).
  • Is the development team competent? Are they committed to the coin? What's their track record? Is is an active dev team? Do they have a roadmap for the future? Are they transparent about goals?
  • How is the development team funded? Is the currency corporate-backed? Is the funding transparent? Was the coin significantly premined? (Usually bad) Are developers paid via iterative community project crowdfunding? (Usually good).
  • What is the governance structure of the currency? Who holds ultimate control over decisionmaking? How are decisions made? Are they transparent? Are mining/developer incentives aligned?
  • Does the asset have acceptance and use today? Does it have a functioning use case? If it doesn't, does it have a decent chance of being accepted?
  • Has the asset's "market cap" tripled or quintupled in the last few months? Was this based on any fundamental changes (new software releases, etc) or just speculation?
  • What are the transaction volumes like? (Hint: divide market cap by monthly averaged daily on-chain tx volume to find a consistent ratio) What's the ratio of on-chain transaction versus exchange speculation? Has price gone up independent of transaction volumes?
  • How long has the asset been around? Think of the Lindy effect. Older is usually better.
  • What's the community like? Is there censorship? Does it have an active subreddit? Do the developers answer questions? Are they accessible? How big is the github community? (Hint: you can divide market cap by github commits to find a comparable ratio).
  • Are you psychologically able to hold this coin in a 90% downturn? Is this a high conviction thesis or are you betting on being able to sell it to a greater fool?
How long did it take you to learn about investing in equities? Reading balance sheets, running DCF and DRI models, figuring out how to value a stock based on comparables? Years? How many mistakes did you make before you figured out how to be responsible?
Cryptos are an asset class that is both radically different from anything that has existed before. They are also incredibly heterogeneous, as I argued above. It also leads to cultism – so bitcoiners generally take a dim view of ethereum, and vice versa. Monero fans generally don't like dash, and so on. You have to keep your mind open to understand new opportunities as they arise, and to stop yourself becoming too mentally invested in your project of choice. The vast majority of projects will fail within 5 years, so becoming overly certain of the success of one will probably devastate you. If you can stay balanced, stay honest about your crypto's chances of success and adoption, not get tunnel vision, and not take overly risky positions, you have a good chance of not losing everything. Remember the payoff structure. Heavily rightward skewed. A ton of cryptos earn no return and a select few earn an absurd (1,000-10,000x) return.
None of this is necessary if you just want to invest randomly in one of the top ten cryptos. That's the strategy of 95% of investors today. Pick a coin and go. If it's not bitcoin, I can pretty much guarantee you'll lose money. The newer, the worse.
I've not made an effort to convince you that cryptos have intrinsic value. If you've made it this far, you probably think they're worth something at least. However, they're probably not worth as much as the market is pricing them at right now. Especially not those in the ethereum family. I'm not going to tell you what to invest in, because that would defeat the purpose of this post. I'm telling you to do your due diligence before blindly buying a crypto. And that due diligence on ethereum is as complex and difficult as Tesla or Amazon DD. And that your skills in equity valuation are pretty much useless in this asset class. My circle of competence doesn't extend to options or lean pork futures, so I don't touch those. I suggest that until you really feel comfortable in crypto, you don't buy randomly.
Summative thoughts:
  1. Investing in crypto is hard
  2. 90% of people that invest at market peaks will lose money
  3. You have to extremely skeptical and invest in high-conviction positions
  4. Cryptos are exhibiting bubbly behavior right now, it's a pretty bad time to pick one out
  5. Cryptos are nothing like equities but they do have real value
  6. Cryptos are the future, but almost none of these coins will survive 10 years
  7. The older the better
  8. Governance is key
  9. These are speculative positions, only invest what you can tolerate losing
  10. You can make money investing in cryptos
  11. Passively investing in cryptos doesn't work
  12. It's a winner takes most market, there won't be 1 crypto that wins. There will be different cryptos for different use cases.
edit: deleted chart with probabilities of success because of subjectivity and oversimplification.
edit2: I've been overwhelmed with PMs so bear with me. also, please forgive any spelling errors on this post. I wrote it in one frenzied sitting.
edit3: I knew I would get a fair amount of resistance from ethereum investors (even though I attempted to keep my post as balanced as possible) but I was unprepared from the breathtaking volume of spam and diversity of attacks. One particular user has made 30 comments in this thread. I don't have a stake in ETC, period. The post is 3000 words long and most of it is about how to properly do your due diligence in a crypto. if ethereum fares poorly by standard due diligence metrics, then perhaps your issue is deeper than one post on /investing.
final edit: there have been some broken-hearted ethereum fans very busy organizing brigades against this post, and attacking me personally, and so on. It's all very incovenient. I can tell that I struck a nerve. This post isn't really about ethereum - it's about how to do research in crypto, and why you can't expect to profit handsomely without that due diligence. I mentioned ethereum because there are 3 or 4 breathless posts on here a day about its stunning gains and whether it's worth investing in. My answer: read about it first, from a diverse set of sources. A final note: I do not own any ethereum classic, I have never owned ethereum classic. I brought it up because it is part of the ethereum story, and an example of what happens when you have a contested hard fork. I do hope that ethereum succeeds, I am just cautioning against over exuberance.
submitted by isrly_eder to investing [link] [comments]

Qtum Co Founder Patrick Dai | "3 o'clock no sleep blockchain" depth of sharing

In the industry known as the "first block of the block community," the three o'clock sleepless block chain group, brought together the heavyweight figures in the domestic block chain industry. On the second day of the New Year, starting at 11 am, the group members with a total market capitalization of about 1 trillion yuan, as the traditional world still rejoice in the Great Reign, Technology, valuation, investment and future, the main questions raised in the group were carefully answered and shared. The full text is as follows:
 
Q1: Stellar recently fierce in Silicon Valley, do you think the threat to eth big?
Patrick Dai: ETH has become an ecosystem where the greatest risk comes from the risks inherent in one's own ecology but less from outside risks unless there is a tenfold increase in Ethereum's advanced ideas and technologies, giving it an opportunity to replace Ethereum , Otherwise it is a big threat to the nature, but not competing with the front of Ethereum, in other areas (outside the ICO) force, there are still a lot of business and investment opportunities.
 
Q2: What do you think about the millions of TPS that eos claims?
Patrick Dai: Blockchain is not born for the TPS, if we need faster TPS, the existing banking system and Paypal and WeChat payment, is a better choice. In addition to the degree of decentralization and TPS is basically an irreconcilable conflict, many of the replacement of TPS is to sacrifice network to the degree of centralization to obtain, I personally think, simply in pursuit of higher TPS, but it makes no sense , Especially if the network after only a few dozen large nodes (this is not the early stages of the bank?), Then the high TPS, very often not significant.
 
TPS makes sense for specific things, but requires a compromise with the philosophy behind cryptocurrencies. Because traditional IT technology has been studied for distributed systems for decades, all algorithms based on BFT and various variants can achieve very high TPS, but their degree of centralization is relatively high. The average person in the network is Can not get the right of reciprocity If you can not participate in the supervision and verification of the network, in fact, the use of existing financial services are more than enough.
 
Question 3: Qtum Chain initial design of the core of what is the point? Qtum how to build their own ecology? Qtum globalization is good, even South Koreans like Qtum,landing strategies and methods in different states around the world how to look?**
 
Patrick Dai:
The core of Qtum Blockchain design:
  1. Security, security is the number one priority for cryptocurrency systems, with no foundation for security and sophisticated software as a back-up.
  2. Qtum chain is basically compatible with bitcoin's UTXO and all BIPs, and is also compatible with EVM and EVM-based ecology.
  3. Flexible, the biggest innovation in Qtum is based on bitcoin transaction model, which supports the implementation of smart contract, so that Ethereum's virtual machine can run on the bitcoin network. In addition, the current Qtum network is already in the POS phase, and around 3000 A full node. POS is more friendly to business applications. Through technical support, development tools, Community Roadshow investment hatching in the constant construction of the ecology of the Qtum Blockchain. The more important thing is landing on the local community developers and local project developers to achieve localization, the international team will also be a lot of help.
 
Question 4: Decentralized trading system, the future direction of development is?
 
Patrick Dai: to the center of the trading system of my research is not much to talk about a few specific cases, the earliest to the center of the trading system is based on the colorcoin mastercoin and counterparty transactions colorcoin on the back appeared on NXT and the BTS Decentralized trading systems, followed by the emergence of etherdelta (based on the smart contract trading system), from the experience above, several decentralized trading system experience, similar to the centralized trading system of high-frequency mobile Sex, a great gap. About decentralized trading system in the order matching and order synchronization, this can find some developers in this area, consult.
 
Q5: ipfs really can really decentralized web and app? Not a simple one? What is the point of going to a centralized app?
Patrick Dai: IPFS specific technology to achieve no in-depth study, but read the design concept, the project itself also mentioned for several years, to the center of the web and app should be serverless service to developers, as long as the interface , Regardless of who behind the service to provide. Is not a simple token, depending on the ecology behind it, bitcoin is essentially just a piece of data in a bitcoin network, and decentralized apps make sense, but at the moment many of Dapp's really just an app + blockchain as a settlement layer .
However, the future of blockchain and Dapp's future will transcend the existence of cryptocurrency and will become a social infrastructure: trust. Dapp has a lot of good direction: the game (props channels), content (movie music text), Internet of things, ID and so on.
 
Q6: Everyone has been saying that it is necessary to decentralize and intensify the high level of Dapp's certain degree of contradictions. However, we can not just stay at the stage where btc is used as a currency and eth only serves as a currency to be raised. Developing Dapps to address user needs, that is, the need to strike a balance between a purely decentralized utopia and user application world, Dpos is a solution for now, what do you think? How to grasp the degree of the two?
Patrick Dai: Indeed, many Dapp is a pseudo-concept, but cryptocurrency itself has begun to penetrate into various places as the first successful application based on blockchain technology. My consideration for the future blockchain system is that there is enough decentralization at the bottom and the application layer can be neutralized. We need a trustless bottom plus an application layer that requires trust, on the one hand, a trustless premium (trust cost Lowest) + centralized premium (centralized), Dapp still has a lot to see in the future, such as gaming (virtual assets and channel changes) digital content (movie music) Internet of Things security and management of digital identities Areas of Pratt & Whitney Finance (Insurance-autonomous finance and micro-financial services, etc.).
At present, many Dapp just use the characteristics of a blockchain, that is, the issuance and clearing of tokens. The blockchain has many other features that need to be discovered and discovered.
 
Q7: How do you think about the feasibility and security of cross-link technology? At present, you are optimistic about this project. In addition, how to ensure the trust and reliability of the link in the chain?
Patrick Dai: I personally feel that the current cross-link area is still in its early stages, both in bitcoin and Ethereum network have limited processing power, and the process of continuous evolution, I personally feel that this one cross-chain is not yet mature enough, and from the solution Just need to point out whether cross-link at least at this stage is not just a need.
On the Oracle side, this is a need, especially in the popularization of smart contracts, we need the blockchain can access external systems, in a sense, the current blockchain is an algorithm-driven self-consistent Closed system, the logic is pre-set. Through Oracle we can introduce external data sources to trigger the execution of the contract. There are many directions on how to solve the problem of credible data sources.
One is a centralized approach, such as providing data sources by auditing companies and government departments. Another way to go to the center is to introduce games and mortgages. Punish fraud and reward honest data sources and establish a preferred positive feedback mechanism. Of course, there are many other solutions, there is a lot of community research, Microsoft also has a cryptolet project.
 
Q8: Ask a funny, 10 times eth, I have been curious about this issue, high-dimensional playing low-dimensional, non-dimensional entanglement. You must have thought about this 10 times the problem or possible direction method, want to hear you talk about the possibility of 10 times the direction of eth?
Patrick Dai: 10 times ETH advanced concepts and technology iteration, ETH basically invest this thing is done through the ICO done the ultimate, 15 seconds to complete the investment process (DD TS Token release). It takes a few months, compared to the traditional melting of an angel, which is a difference of 15 seconds vs 3 months. So somehow, ETH becomes the largest investment and financing platform in the world. This is also the largest application of Ethereum, but the application of other smart contracts but did not develop.
 
From the cash point of view there are several directions:
  1. distributed governance (refer to bitcoin 1M to 2M process and DAO processing);
  2. system of self-evolution and evolution;
  3. ease of use 10 times the increase;
 
From a technical point of view:
  1. scalability (full node size participation threshold TPS reciprocal rights);
  2. privacy and application independence and loose coupling (refer to Parity theft);
  3. Better flexibility (more types of virtual machines and a wider range of smart contract languages);
  4. network layering and partitioning and data compression;
  5. new consensus mechanisms (often requiring years of testing and practice) and more.
 
Q9: On the current blockchain + distributed computing issues, I think in the future if the dapp market can really make it indispensable based on the blockchain program to solve the calculation, storage, node acceleration and other issues. Currently I see several projects on distributed computing are based on the construction of Ethereum, are worrying about the performance, how do you think?
Patrick Dai: Distributed Computing I did not study much, but its initial project should come from MaidSafe (https://maidsafe.net/), a nearly 10-year project, essentially Proof of Resource, and many others. The type of computation is actually not very suitable for distributed processing, requiring serial processing of data that is essentially not accelerated through distributed computing, and distributed computing may be able to handle similar game rendering and image rendering needs, but I do not know How big is a market?
In addition, in distributed computing, it is also a problem how to use a common programming language to describe the computing task to be calculated and submit it accurately to the computing node. This one can consult the head of distributed computing projects.
 
Q10: Analysis of the following characteristics and advantages and disadvantages of the underlying chain: BTC / QTUM / ETH / EOS / NEO / ELASTOS?
 
Q11: At present more discussion is the public chain and the basic agreement, the application of technology in the future how to develop, what application scenarios faster landing?
Patrick Dai: The current blockchain technology is still in its early stages of evolution, standing in the Internet era 20 years ago, when we can hardly imagine today can be called a mobile phone uber, the development of technology to give everyone a more rich diversity The possibility is the future.
From an application perspective, the blockchain industry is indeed in the early stages of its application. Cryptocurrency is relative to the blockchain, similar to Email versus Internet, but the development behind the Internet goes far beyond emailing for information exchange, Then the future development of the blockchain will certainly not stop at cryptocurrencies born for value exchange.
Cryptocurrency is just the beginning. From a scenario perspective, the biggest feature of blockchain technology is that it guarantees a trustless platform through a variety of technologies, a trust-free platform that reduces the cost of all business transactions.
 
Q12: First ask yourself a few questions: blockchain where the biggest investment opportunities?
Patrick Dai: Based on the changes and disruptiveness brought by cryptocurrency, its wealth is created faster than the industrial revolution and the information revolution. From an investment point of view, I personally feel that there are several good directions:
  1. Encrypted currency (cryptocurrency and token) in the underlying publicchain, which basically became the industry's first token-based blockchain technology with a close combination of blockchain
  2. Technologies and specific application scenarios (the industry is in its infancy)
  3. Encryption Asset Services Portal (Wallet Exchange IM)
  4. Breaking Down Scenarios Across Industries (Games, Entertainment, IoT, ID, Healthcare, Supply Chain)
  5. Organizational Change Research, Economics, Think Tanks, Deep Media.
 
Q13: Is cryptocurrency popular at large scale?
Patrick Dai: the development of technology with jumping, but difficult to retract, with the car, the car will never disappear, although the carriage also continued to exist for hundreds of years. The advent of cryptocurrency is not a coincidence, but is accompanied by the maturity of various internet infrastructures and the enlightenment of Cyber ​​punk movement concept. It belongs to the fusion of technology and thought, not just to technological innovation.
Personally, I think the cryptocurrency is unlikely to disappear, the widespread adoption of cryptocurrency depends on the applicability of the cryptocurrency system, including what rigid demands are being addressed, and for the moment, the greatest use is to provide people around the world an option: a very fluid Transparent, credible, secure global assets.
 
Q14: How to build a valuation model of blockchain platform?
Patrick Dai: I have sent an article before. At present, this is a big problem in the industry. We do not have a set of valuation system to realize early warning and assessment of risks. What is the valuation of a project? Before writing something for your reference. http://www.gongxiangcj.com/posts/3895 "The number of nodes and cryptocurrency valuation model."
 
Q15: Who is Nakamoto?
Patrick Dai: From what I learned, Nakamoto was a hardworking man with idealistic feelings. It should be done independently by one person. There are many anonymous tech bucks in IRC channel in 2011 and 2012, on which you can see Nakamoto's figure. In addition to the birth of BTC, there is also some relationship with a Chinese Wei Dai.
Wei Dai, who wrote Bmoney's paper before, Zhong Zhongcong and Wei Dai also had some emails, and mentioned to Wei Dai that he has implemented Bmoney's part of cryptoCurrency, but in the second part of Bmoney there is actually a tentative idea about the contract. We can refer to Wei Dai's thesis at http://www.weidai.com/bmoney.txt and Qtum's idea Wei Dai has had some simple email exchanges, but Wei Dai's interest is no longer in the circle of cryptocurrencies.
 
Q16: In all the coins, which one will live the longest?
Patrick Dai: simply look at cryptocurrencies, BTC completed a historic jump, but also a breakthrough from 0 to 1, followed by many cryptocurrencies are 1 to 1.1 and 1.1 to 1.2 changes, more than one billion US dollars in the amount of encrypted currency thoroughly It is unlikely that it will disappear because of the drive and governance of the community that the community will uphold even if the developer does not maintain it. However, there are indeed many crypto-currencies that will be eliminated and 95% of the projects should be gone after three years.
 
Q17: 18 years blockchain private market analysis, what kind of industry is better?
Patrick Dai: Currently the industry needs to find other applications in addition to the cryptocurrency killer app, from the technical development point of view, I personally trust the concept of trustless Platform constantly landing and provide the underlying technology research and development and application scenarios.
 
Q18: Which industry has the largest total of all the industries in the blockchain?
Patrick Dai: Cryptocurrency itself seems to be the biggest at this moment, and others feel that there are many opportunities for the gaming industry and for digital content (video and audio) and for financial services and the Internet of Things.
 
Q19: Want to hear the competition between the public chain and the public relations and cooperation, how to comment on the big brother?
Patrick Dai: last year's growth in the industry, in essence, we are still eating BTC created by the combination of technology and ideas, creating a human species in the history of a new species premium, BTC has its historic significance. The groundbreaking idea it brought, gradually attracted the public's attention, but from a technical point of view, what BTC can do is limited, but it does solve its positioning.
Technology is not good or bad, mainly to meet the needs. BTC technology to meet its point-to-point electronic cash system positioning and needs. We do not expect to build infinite applications in the BTC above, this is impossible. The public chain is indeed an open experimental field and a community-driven evolutionary community of interests. Its vitality is also very strong. However, at present, the problem is that we really need technological progress to further promote the scene. If only from the perspective of cryptocurrency, BTC LTC DogeCoin for a user, in essence, is the same experience, and the experience of Ethereum is not much different. The difference is, BTC and the US dollar experience is very different.
I personally feel that the blockchain industry is an ecology. Whether it is serving one of the areas in the blockchain and ultimately building a blockchain together, it is essentially a collaborative evolution that builds a stronger consensus mechanism. Diversity provides the basis for the choice of consensus, and if there is only one technical direction, then the evolution of technology has become slow. In addition this is only a technical factor, but the blockchain system is not only as simple as technology, there is community community of interests behind.
 
Q20: What dimensions are the most important when evaluating the value of a blockchain project? What factors can be rejected one vote?
The Beginning: The Essential Elements of the Encrypted Currency Valuation Model (I send some thoughts that I wrote before) As the first truly successful decentralized e-cash system, bitcoin became the anchor of value in the industry and By far the most centralized network, Bitcoin is designed as an electronic currency that is secure, secure, and has a very low threshold of participation in the early stages.
It is early everyone can participate, and become a full node without any threshold, anyone can download bitcoin client, early mining in his computer, so in fact the realization of the low threshold of the financial services system, everyone With the freedom to join and exit, bitcoin clients have been rapidly evolving early, and if the client is a game, the Bitcoin client's distribution is a borderless game.
In P2P network, a very important core element is full node. In a P2P network, the total number of nodes basically determines the technical value of this network.
 
Why do you say that?
In the traditional database domain and distributed system, we study the consistency of the data, there are already many, all major companies have their own solutions, but few companies have tens of thousands of distributed system distributed nodes, So most of the research results are more suitable for some enterprises to solve the solution. For example, the Paxos algorithm proposed by Leslie Lamport in 1990 can achieve highly fault-tolerant requirements based on message passing. The latter algorithm is also widely used in google Chubby lock, and Chubby lock behind is widely used in Google's core design Bigtable, bigtable is to support a lot of Google's core business.
 
The realization of Bitcoin network is a fusion of technology and humanity.
In a traditional distributed network, in a large company's network, each node in many cases is due to network reasons, dropping or sending wrong messages, instead of deliberately forging information for the sake of profit.
 
The realization of bitcoin is facing a more complicated network environment, not only a more complex network environment, but also a more complicated game of humanity. In the traditional distributed network, no one will consider the introduction of incentives to allow nodes to maintain data consistency, Nakamoto was the first person to do so, and through a resource that can not be monopolized (hash function computing power ) To ensure the effective allocation of accounting rights to avoid single-point ddos ​​attacks on specific accounting nodes.
 
Bitcoin network to each distributed node in the network, the consistency of each time slice into a time interval consistency, if you look at the global currency bitcoin network, you will find each time slice and time, different The miners in calculating the different chains, in fact, is a bifurcated network, but in a 10-minute time interval, the probability that the data is modified is a Poisson distribution. The probability of the attacker's success is q, The growth of the block is exponentially declining. When the blockchain has six acknowledgments, the attacker's probability of success tends to be essentially zero.
 
If you are the full node in a Bitcoin network, then you have the largest and equal rights to the network, and you no longer have to trust third parties or give up your rights to others. At present, many other cryptocurrencies tend to be centralized. Many consensus mechanisms realize a fast transaction processing speed. In essence, they deprive participants of their equal rights and allow the network to return to a centralized network. But if we really need to hand over our rights in the blockchain network, banks may be a better choice than a lot of centralized blockchain systems.
 
At present there are about 13,000 full nodes in the bitcoin network. Due to the characteristics of the p2p network, it is very difficult to accurately count the total number of nodes in the network. These 13000 full nodes bear the accounting of the distribution and transaction of currency, and are also bits The foundation of the currency. Bitcoin is definitely a more distributed clearing network than Alipay, and unlike Alipay, Alipay is just a payment instrument that serves the renminbi system. Bitcoin's global clearing network also has its own currency system --- Bitcoin Compared to a bank, opening a bitcoin "dot" actually requires only one computer to run a full node. Therefore, the final service boundary of Bitcoin is borderless, and the service objects of banks and Alipay have boundaries.
 
Bitcoin achieved a breakthrough from 0 to 1 and completed the carriage-to-car transition (steam engine). In fact, crypto-currencies appeared behind us. In fact, we made some improvements on the basis of Nakamoto. Indeed, we have not Take the carriage again, essentially all the cryptocurrencies are in the car.
 
If we look at bitcoin from a software science perspective rather than a currency perspective, the various cryptocurrencies that appear later are essentially improvements and enhancements based on bitcoin's open-source software, which many teams make And upgrading, and not much difference, whether it is to change a mining algorithm, or add some total, a lot of bifurcation is done from 1 to 1.001 experiment, bitcoin from paper currency to electronic currency from 0 To 1 transition and fission.
 
Today, Bitcoin has the strongest network effect and the loudest brand effect. Although the technology iteration is very, very slow, some progress has been made one after another, but it can not be surpassed from the aspect of things development. , But no matter whether it will be surpassed, the emergence of bitcoin has its historical inevitability and it will certainly accomplish its historic mission. As the world's largest distributed clearing network and built-in monetary system in the future, as well as the anchor of the value in the parallel financial world in the blockchain and the boost of crazy humanity, we predict where its future highs will be Speaking of other factors aside, cryptocurrency has opened up a new era in which its market value should surpass that of the previous wave of the Internet.
 
Question 21: Blockchain whether the future is required to apply for a license to do?
Patrick Dai: From the future development of cryptocurrency, this is an inevitable.
 
Question 22: The future of blockchain in the IP field?
Patrick Dai: This still need to solve the chain and chain problems, as well as integration with the existing legal system. But purely virtual assets may not be needed, such as audio and video saved in the art and electronic formats of game props and electronic designs. But no matter what kind of industry, we have to think about, in addition to the token premium liquidity brought us by the blockchain, the blockchain really helped solve what problems?
 
Q23: Now the real consumption of blockchain project is not much, why do not wait for the project landing, re-vote? Tencent like buying now is not too late. Estimated seed round billion reasonable?
Patrick Dai: revolutionary ideas and new technology has brought endless imagination mixed with human speculation and greed.
 
Q24: Want to know how to treat EOS Q1 beta?
Patrick Dai: the specific progress did not pay attention to too many details, each project has its own position, as long as the solution to a certain area or the general needs, I personally feel that are very valuable. But we also look at the duration of the project is also to our own positioning, if the measurement of time is one day, it is trader, if it is a month, it is a short-term speculators, if it is one year, in the block chain industry is long-term investors If it is three to five years or ten years, it's the value discoverer and the leader in technological change.
 
Q25: What kind of impact can blockchain have on the economic vitality of the third and fourth tier cities today? When will have an impact?
Patrick Dai: I do not know this.
 
 
Credit.Wang Jiehui
submitted by thisthingismud to Qtum [link] [comments]

RH Strategy of a Not-As-Noobish Noob, For Other Noobs

Hey guys! Long-time reddit user, but trying out a new account for more professional-type posts. Wanted to post how my portfolio is divided and how my RH is set up for any new investors looking for example portfolios. This is by NO means official advice, a plug, nor am I able to offer legal advice. Do your own DD, make your own informed decisions.
So I am currently playing with around $1300 to invest with, however this was slowly built by recurring weekly cash deposits. I think the first week I invested $100 total, and my whole portfolio worth is currently the cash invested. I have made gains and made loss, but am finally in a position for positive growth. I am a 21 year old college student, so I do not have the capability of a lot of investors you may see on these boards. I am trading in a way that I hope will build my portfolio worth while retaining my savings. This means I have invested in some holdings (Group A) that I think will give me large short-term gains, and some (Group B) that will give me strong growth long-term.
Group A is split two ways.
Group B is also split into two groups
Remember, I am still very much an amateur. I am sure I will have pissed off a few or a lot of people with this post, as I don't get too technical and I admit to practices that are commonly shamed (mostly small-cap investment). I want to emphasize how important it is to educate yourself the best you can, do as much TA and FA as possible, and to not let your emotions get the best of you. I made this partially to begin building my professional Reddit profile, but to offer a conversation starter or framework for people to debate and analyze for themselves. I tried to avoid mentioning any stock in particular, and do not mean to promote any of the services mentioned. I use what suits me best at this point in time, and recommend you find what suits you best. I have no formal education in this, so really take what I say with a grain of salt.
Would be glad to answer any questions and I am more than open to any comments/advice. Before the good 'ol talk of investing it all in ETFs, I am gambling for a reason. My schedule is nearly maxed out time-wise, my job doesn't pay dick, trading has been a hobby of mine since I was 16, just now I have money to use, and I want to bring ease of mind to myself financially. I study Comp Sci, and have many non-investing goals, but I genuinely believe trading is the best route to the best possible future for myself. If anything I just want to move out of my parents house :)
Have a good day y'all!
submitted by ImMySuperhero to RobinHood [link] [comments]

[Table] IAmA: We are iFixit co-founder Kyle Wiens and cell phone unlocking crusader Sina Khanifar, two guys fighting for your right to unlock everything you own

Verified? (This bot cannot verify AMAs just yet)
Date: 2013-03-22
Link to submission (Has self-text)
Link to my post
Questions Answers
Is it possible for an 83 year old to have a well-reasoned attitude towards the internet, or are all people that old hopelessly analog and therefore irrelevant I would hope so! But I imagine it would take some time—there's a lot of context he's missing that we have, and vice versa. I'm sure that there's a lot that I could learn from Mr. Billington. Maybe I should drop by his library sometime and see if he'll show me around!
Why should I tailor my design to the .1% of the market who cares about repairing their design, instead of the 50% of the market who would rather have an extra 1mm shaved off the case, or who would rather save $.50 due to a more efficient factory assembly methodology? Just because the first owner doesn't fix it, doesn't mean no one will. Eventually, 100% of the products you design will fail. The battery will wear out or someone will drop it. The need for repair is just about as inevitable as taxes. Products that have long lives have much higher resale value. Toyota trucks sell for a significant premium over Ford trucks of the same year with the same mileage. And people care about how much they're going to be able to get for their used product a year down the line, even if they're not interested in ever fixing it themselves. Large purchasers are increasingly paying attention to design lifespan. I know purchasers at very large organizations that are horrified by the prospect of a glued in battery with a 2-3 year life. They have to get a better return on their investment than that.
Hey! I wrote a repair guide for a Fender guitar amp for you guys for my technical writing class at Cal Poly SLO! My question is what sort of compromise could you foresee that would both allow use consumers to do what we wish with our products, while still protecting the intellectual property of the numerous companies we purchase our products from? For those who are interested, here's their Fender repair manual. Great job!
The question is what intellectual property needs to be protected? There are already lots of laws that protect Fender from you starting a competitor and using their patented designs or trademarked logo and case styling.
In the case of electronics, all the design engineers I know tell me that by the time a product has shipped, they assume that it's obsolete. They know their competitors will be taking it apart and analyzing it.
Sharing information needed for repairs doesn't really make it any easier to clone a product. A number of manufacturers—Dell and HP, for example—provide service manuals on their website already. And iFixit's Apple service manuals didn't prevent (or factor in at all with) their lawsuit against Samsung.
My opinion is that the laws we have are substantially the result of a) unintended consequences of the fight against media piracy; b) Cell carriers using the law to enforce a monopoly; and c) a strategy of planned obsolescence.
Now that's it's illegal; what are the chances of getting caught? Is it easy for phone providers to track down an unlocked cell phone? Will they actively go after people? Or do you think it's going to be more like illegal torrenting where they'll go after the big fish (ie people marketing unlocking/jailbreaking services) and maybe cherry pick a few unlockers here and there to make an example out of them? The odds of them coming after you or me are very low. I'm not sure that they could detect remotely whether a phone has been unlocked—it would probably come down to how accurate their database is and whether there is data sharing between the carriers.
It's the folks making the unlocking software—like geohot and the iPhone dev team—as well as refurbishers and resellers. Companies like Recellular unlock millions of cell phones per year. If they can't do that, the used phone market will be significantly disrupted. It will become extremely expensive to buy unlocked phones, and your old locked phone won't be worth nearly as much.
It's crazy that intellectual property law is interfering with the free market of physical products like this. It's farcical. Imagine if Ford cut a deal with a toll road company and didn't allow you to drive your car on another company's roads!
We need to find ways of educating policy makers about the impact of applying policies designed to prevent piracy to physical hardware.
How do you think the rise of 3D printing is going to affect your iFixit business? Do you believe scanning the 3D models of little plastic pieces be subject to DMCA takedowns? And if so, would you consider addressing that on your fixthedmca.org site? I'm really excited about 3D printing. We haven't seen a ton of practical 3D printable repair parts, but that day is coming.
The legal issues around printing 3D parts are pretty different from the copyright concerns around unlocking (circumventing encryption) and access to service manuals and diagnostics. With printing objects, you run into problems with 3D patents and trademarks. If it's legal for a third party to make a replacement handle for your refrigerator, it should be legal for you to 3D print one. But that's by no means certain, and I think it's going to be a significant fight in the coming years.
There have already been some DMCA takedowns of 3D files, but IANAL and I couldn't say exactly what the implications are.
A major challenge for small companies like ours is uncertainty. Let's say I create a 3D file of my door handle, post it to iFixit, get sued by a major manufacturer, and my lawyers tell me I have a strong legal case for fair use. Going to trial could cost millions of dollars—money the manufacturer may be willing to spend, but that we wouldn't be able to afford.
This is a big reason why you don't see very many people standing up to the OEMs. It's also why it's critical that we financially support fantastic organizations like the EFF, Public Knowledge, Free Press, and others who are willing to fight long fights on behalf of us consumers. Free markets need clarity.
That said, iFixit is totally happy to host any 3D models of spare parts people want to throw up on our servers, as long as the files were independently created.
As a Cal Poly SLO Electrical Engineering student who built a 3d printer this summer, I support IFixit hosting models. Let's get started uploading some models, then!
Everything that you guys take apart and breakdown.. do you pay for those out-of-pocket, or are they given to you by the manufacturers? How do they feel about you doing that? Great question. We buy everything at retail, just like Consumer Reports. Since we're rating the repairability, it's important that we get the same hardware that you would buy at the store.
That gets a little expensive, particularly with out-of-contract cell phones (we'll be taking apart the Blackberry Z10 soon), but it's worth it. You can't tell how hard it'll be to repair something without taking it apart, and we've taken it on as our sworn duty to educate people before they find out the hard way.
We posted a tablet repairability matrix the other day.
Well, I feel like that is likely ALREADY the case with many cars. They all have lots and lots of chips in them. How many of those chips are we allowed to access, inspect, etc., without violating something like DMCA? It totally depends on whether they're encrypted.
Legally, can you modify the code on the chips?
Practically, will anyone do it?
Right now, we're focused on the first issue—guaranteeing your right to tinker. That's why we need to repeal Section 1201 of the DMCA.
But for repairs, the time to reverse engineer those chips is so significant that you would never be able to do so in the process of fixing a car. For many repairs, access to service documentation and diagnostics are critical. That's why Massachusetts just passed Right to Repair legislation requiring service information be made available. Independent auto mechanics were worried they wouldn't be able to stay in business.
I think we need Right to Repair legislation for electronics as well as autos.
You guys are great! A Maker Manifesto for all! I'm tired of the consumption based, throwaway society we have today. We need to get corporations to relinquish this tight-fisted control over everything they manufacture for "sale" (quotes to indicate that they say "sold", even though the consumer often own much of what was purchased) that encourages, no - demands, that merchandise gets thrown away and replaced new to maximize profits. What do you see as the best avenue, personally and as citizens, to encourage people, the government, and companies to pursue the ability to repair our merchandise? Help us build a free repair manual for everything! Join the thousands of people all around the world contributing to make iFixit the largest repair manual in the world. We're building a coalition to fight for access to unlocking tools, service manuals, diagnostics, and everything else we need to repair products. If the people of Massachusetts can stand up for their local auto repair shop, we of the internet can certainly stand up for the right to open our electronics.
Sign up at fixthedmca.org and let people know you want DMCA 1201 repealed.
I own a small business that's an authorized dealer of a major carrier's products and contracts. When I order, e.g., a 16 GB iPhone 5, I pay the full retail price, $650. One of my stores then sells it for $200, as per the carrier's requirement. When someone then proceeds to unlock that phone and activate it on, say, Cricket, I lose $450. The carrier only pays me a portion of the contract if it's kept for at least six months. Were you aware of this? Do you agree that anyone who acts in a similar manner is effectively stealing $450 from me? How can one own an item that he hasn't fully paid for yet (assuming that a device isn't entirely bought until the discount received on it has been compensated via contract)? The customer has to pay an early termination fee, I assume. Who gets that money?
Do you ever break a item while disassembling it? e.g. If you cracked a Ipad digitizer as you removed it while doing a break down. Edit:spelling. Yes. Specifically with the iPad, it was glued together. It took us breaking about five iPads before we developed a technique for opening iPads without harming the glass. Even then, we kept fiddling and improving our methodology.
How do you guys feel about "anti-fixer" hardware like security screws or Torx? I don't really think Torx is anti-fixer—it's a pretty standard tool, there are good technical reasons for it (screws don't strip as easily), and the patent on it has expired (way back in '91). Security bits and tools like Apple's Pentalobe driver are just consumer-hostile.
I had to open up my coffee maker to unclog it and they had flathead screws with a little bar in the middle - you'd need a flathead screwdriver that kinda looked like a two-pronged fork. I have a friend who just spilled liquid on her MacBook Air this afternoon and needs to open up the case to dry it out. But she doesn't have the right sized pentalobe bit already, and it's going to take a few days to mail her one.
Random idea: Mail Pentalobe drivers to libraries in major metro areas, so people can locally access them without the hassle? There's a growing group of tool libraries where they do just that. I think it's a fantastic idea—we recently wrote a story about the West Seattle Tool Library, which is very successful.
You guys are awesome! You helped me start my business in fixing and unlocking devices. I have already emailed my representatives (all of them), signed the petition, and spread the word about how bad the DMCA is. Thank you for your efforts. As for questions, how many DMCA threats do you receive? If so, from what kind of companies? Do they concern you at all? You'll be surprised to hear this: iFixit has never received a DMCA complaint. But there's a good reason for that—all the content on the site is originally created, either by us or by our community members.
We haven't gotten permission from any OEMs to rehost their service information (yet), but it's something that we're working on.
With the recent screenshots of xbox durango, do you think that we are moving toward a time where the used game market will cease to exist? You bought it, you should own it. That applies to music you buy from iTunes, or from Steam, or from the secret XBox market of the future.
But the trend right now is away from ownership, and towards licensing. Apple is very careful to never say that you own the music you download from iTunes.
There's a fantastic group of people working to guarantee your rights to resell the things you buy called the Owner's Rights Initiative. They won a huge victory in the Supreme Court this week in the Kirtsaeng v. Wiley case, verifying that it is legal to resell products in the US that were made overseas. Seems commonsense, but those are the sort of basic battles we have to fight.
If that verdict had gone the other way, we might be talking about whether it's legal to resell your old cell phone—now that would have been a step backwards.
Are you giving away free 6inch rulers? because they are $2.99 and redditlove322 gives $5 off. Yes.
Why isn't the problem the breaking of a contract? The customer is not actually breaking the contract, they're exercising an option in the contract to end the monthly service in exchange for paying an early termination fee.
Your problem is that the carrier wrote the contract, and likely also wrote the business contract with you. Your contract sounds one-sided—the fair thing would be for you to receive a portion of the termination fee to repay you for your subsidy. You're getting squeezed on both ends.
Why isn't there a way to sort the amount of devices on your website by their repairability score? Because we haven't gotten to it yet! But that's a great idea. Our tablet repairability page is our first stab at something like that.
I have used your website to repair a Macbook Pro. I redirect people to your site for a lot of their Apple (and console) problems. I love the idea of a centralized repository of all this knowledge. Is it possible to expand this to cover all devices? If unlocking under contract cell phones is legal. What incentive do mobile carriers have to incentivize high end cell phones? Yes, we're working hard to do it. The problem is that we can't take the manufacturer service manuals and post them on iFixit because of copyright law. If it was legal, we'd have service manuals for everything! So we have to write everything from scratch. You can help—take some photos the next time you fix something and post the seed of a new repair manual. Locking phones isn't required to keep you on a carrier. You already have a contract! The early termination fee should cover any costs to them from your subsidized handset.
What's in it for you? We want to fix the world. I'd like to live in a place where people cared about their things, and products were designed to stand the test of time.
I agree that this should never be an issue and shouldn't be something that we should have to fight for. Everything should be unlocked by default. But you guys are doing amazing things in this fight, so mad props to you. The problem is that software (intellectual property) is infecting hardware, and so the laws that have allowed us to modify and tinker our hardware for hundreds of years are woefully out of date. It won't be long before you can't buy any durable good that doesn't have some software involved.
, ifixit.com is an awesome idea and site and I recently used it to upgrade my aging macbook, saving hundreds of dollars by not buying a new one. Great idea! What do you. think. of. these. guides?
Have you ever considered expanding ifixit beyond apple products and game consoles? Or expansion beyond electronics.. say into DIY car repairs? IFixit is a wiki, and you can add repair manuals for anything you like! So get cracking.
Hi there as a small cellphone and computer shop in my town I like to thank you guys for your work and I support as much as I can when I can ( buying parts and tools. Even if can find it little cheaper somewhere Els. I to support your amazing website ). It helped me many times when I have a rare or unusual item in my shop. How did it all started ? Here's a short summary of how we started iFixit back in 2003: Link to www.ifixit.com
Are there any ways that manufacturers are making it easier to repair devices? I think Dell deserves more press than they've gotten for the XPS 10. It's clear that serviceability was a design priority throughout, and it's a great device. I have the trackpad + battery dock, and it's a great product.
They color coded the screws, used easy tabs to get into the case, and made the battery very easy to remove.
Did you guys sell your tool kit to Best Buy, I saw a similar kit in geek squad to what I have at home? Not yet, although we'd love to sell tools through them. You can buy them from Amazon online as well as direct from us. Radio Shack is selling our tools at a few stores—if you don't see them in your local store, ask them to stock them!
Hi guys, love your site 'cus I'm a fixer. _^ I've rebuilt many an engine for myself and friends. The best way for a friend to get me to fix their stuff is to say : "It's OK, don't worry. I'll just get a new one." LOL That pushes my buttons and I'll have it fixed pronto! I'm wondering about the (maybe few) positive outcomes of regulation. I'd love to hear your take on modifications to devices that then negatively effect other people. I know many guys who modify the emission control system on their cars in order to get better mileage or have better pick-up. This gives all of us a worse environment. Sometimes people misalign their headlights and/or put in super-bright halogens. These blind me when approaching at night. Also, what if someone modified their electronics in such a way that throws off a ton of RF noise, thus disrupting the electronics of others (phone, Bluetooth, WiFi). Mufflers on motorcycles that are just TOO loud are another example. These issues are more troublesome in cities where we live close to each other. This would probably require many more "spot checks" by authorities to be sure that your device/caboat/etc was in compliance. They do this now for people who mod their street-legal cars, but they will typically just target the low-riders or the Asian imports that are altered. I'd hate if this practice was extended to the whole population. We would creep closer toward a police state. So what is your stance on regulation (and its enforcement) for beneficial things? Where do we draw the line and how do we be sure people comply? This is a great question, and I'd like to have a conversation about this separately. Please ask our repair tech community over on meta.ifixit.com and see what they think. They might have a more nuanced perspective on this than I would.
What has been the most difficult project for you? Not standing up to the DMCA, or any kind of campaigning stuff - I'm asking about phones/consoles/etc. The hardest part for us is figuring out how to make servicing glued devices economical. The solution involves new tools, techniques, and instructions. We've thrown away entire repair manuals and started from scratch because we thought the procedure was too difficult for people to use. Our iOpener is a really cool new tool for opening glued tablets, and took about a year of tinkering to perfect.
Would you please give us a bitcoin address where we can PAY OUR SUPPORT ?? We should set something up for fixthedmca.org. We could be the first bitcoin-funded PAC! I'm sure that would ruffle some feathers.
Is the Surface Pro really that bad? Yes. But don't take my word for it—CNET / Techrepublic also took it apart, and came to the same conclusions that we did.
From their report: "[Microsoft] took one of worst tablet design elements (a glued on front panel) and married it with one of the worst laptop elements (an over abundance of screws) to create a device that’s more difficult to crack open than even the Apple iPad."
Just wanted to say Thanks for making such great tools. They guides are pretty awesome too, but the tools are sweet. Just got my Magnetic Project Mat and I love it. Any way you want to sponsor an IT guy and give me a bunch of tools? Keep up the great work! Shameless plug: I love my Pro Tech Toolkit, and the Magnetic Project Mat has changed how I fix things.
Unrelated, but would love the question answered. GF would love to move back to SLO. Any chance I could get a job? We do have a couple positions open in SLO.
Not really a question directed to you, but just on the topic in general. In the US, are you not allowed to unlock your phone? Here in Ireland we simply go to our network's shop, give them our phone and a day later, it's unlocked and ready to use on any network, free of charge. It's newly illegal as of January of this year. Thanks, Mr. Librarian of Congress!
In some countries—including Brazil—it's illegal to sell locked cell phones. I guess we're a little less secure in our capitalism than they are.
I can't thank your site enough! I use it to fix all of my electronics and customers computers. Before i even open a device, I take a look at your site and check to see what cables I have to be aware of, so I don't break any when taking apart the thing. Have you thought about opening a physical location and selling your merchandise and maybe offer computer servicing? We have thousands of technicians who contribute to iFixit and run local repair businesses. I'd never want to compete with them—they're a lot better at fixing things than I am!
Do you have the stats from that old satisfaction survey on peoples favorite star wars film? Yes, I've got that around somewhere. I'll have rummage around the dusty regions of my drive platters for them. I'm pretty sure Jar Jar lost.
You guys stole a friend of mine's photo of an Xserve without attribution (it was CC just requiring credit). He emailed you about it several times with no response. What fuck? I don't know anything about that! Have him send it again to support at ifixit and we'll get right on it. iFixit is community driven, so it could have been a contributor. But we're eager to fix it!
Hey Kyle, I know it's not the reason you're here, but are you going to do a teardown of the new 27" iMac? We've got a repair manual well underway. Stay tuned.
Love the website and love the prices, but when will you have more of these in stock? Probably not soon. Best to find a water damaged one somewhere and salvage the part.
An IMEI blacklist has now been released by checkesnfree, but no database to check purchase date of phones to confirm the 1/26/13 cutoff. As a repair shop how am I supposed to know when a customer bought a phone, or whether they are lying to illegally unlock a phone? Is it really fair for us to have them sign a waiver to pass the blame off to the customer in case of a lawsuit? Good question, and I have absolutely no idea.
> Is it really fair?
Nope. But then, who said the law was supposed to be fair?
What are your opinions on E-waste? We've written extensively about e-waste (see the Wired articles I linked to above, as well as iFixit.org). It's a huge problem, and the best solution is to make our products last as long as possible.
Locking phones limits their ability to be reused, and the practice is responsible for hundreds of millions of phones going out of use prematurely. Locking hurts resale prices, it hurts consumers, and it hurts the environment.
Well If I can buy a car and make mods to it or buy a computer and mod it. I see no reason why I shouldn't be able to mod a phone or anything else. Good Luck guys! Thanks. The issue is software infecting the hardware world. If they put an encrypted interface to your car, it would be illegal to unencrypt it and modify it, thanks to section 1201 of the DMCA. That's gotta change.
The post-'96, pre-late-2000s cars hit the sweet spot: they had OBD II ports, but were devoid of crazy electronic nannies and gremlins. My DD is a '98 Accord, and that's almost as good as it gets. +1.
My 68-year-old mother replaced the battery in her MacBook Air by herself a couple of days ago thanks to you guys. You rock! Awesome! Got any photos?
We collect repair stories over here.
MJ is the best host you have had on iFixit. Hands down. Thanks! Here's MJ's take on the cell phone unlocking situation.
Just last Friday I used your website to fix my Galaxy Nexus (grandfathered in to unlimited data) with nothing more than eye glasses screwdrivers and some guitar picks. Thank you for saving me from a 5fb download limit or having to pay $600 for an unlocked phone. You guys rock! Link to cdn.memegenerator.net
If youre asking, you already know the answer. Shhh.
Just wanted to say thanks for the wealth of information you provide. When I taught my ACMT course in Las Vegas I recommended your site over Apples GSX for out of warranty repairs. Used it myself frequently and will continue to even though I'm no longer a technician. Thanks! And please, help us get better. There's an edit button on every step and we need all the people with technical expertise we can get.
Hey, I did work for you guys through my college class (ENGL 149 at Cal Poly SLO) and because of my work I actually got a job! I just wanted to say thank you very much <3. Here's the page I worked on: Link to www.ifixit.com. I'm the hand model <3. Awesome! What job did you get?
Hey guys! its Caleb from hackaday. I just wanted to say you've come a LONG way over the years and I'm happy to use you as a resource when people ask me about gadget repairs. Keep going! Thanks, Caleb. The community deserves the credit—they're the ones who have expanded our manuals so dramatically. I'm constantly amazed at the cool repair how-tos I find on the site.
I just want to tell you that I love your website and that you have saved me hundreds of dollars in repair costs for my Apple products via ifixit.com. Thanks! I paid patalbwil to say that.
Just wanted to say 'thanks' for everything you guys have done and are continuing to do. I started a Mac repair business over three years ago and I couldn't have done it without all of the amazing guides on iFixit.com. Keep up the good work! Awesome, that's great to hear. We love helping people start businesses.
Pass it along—teach someone how to fix something over on iFixit.
Probably too late, just wanted to say thanks for ifixit. I've bought a few tools there, fixed my xbox controller, and I'm in the process of fixing my ps3 laser. You're very welcome! I'm not responsible for most of that—it's our global community that wrote those guides. It's incredible how much knowledgable people are willing to share.
I met iFixIt at Bay Area Maker Faire in 2011 and 2012 and want to thank you for who you are and for all you do to make a DIY-er's life easier. Let me know if you need a spare pair of booth hands for 2013. I don't think we'll be exhibiting this year so we can focus on our online work, but we're happy to support anyone who wants to represent repair at the faire. It's a great show.
As a fellow Calpoly CPE, how well would you say that Calpoly prepared you for the 'real world'? (Also, will you ever go beer tasting with Collin?) Our work is pretty broad—we're taking apart hardware one day, hacking code the next, and writing op-eds for Wired the next. So it was very useful, but we've had to teach ourselves a fair amount along the way.
So they can turn a profit, yo. All the products for those tear-downs don't come cheap. Plus you get a high quality screen + get great customer support. There's a pretty broad spectrum in quality between parts out there. We test every single screen we sell and stand behind our parts with long warranties.
Last updated: 2013-03-27 06:27 UTC
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Bitcoin (BTC) Fails Higher Price - What Now?

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