/ARK/ General - A Network of Their Own Edition

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>Smartbridges

https://blog.ark.io/what-is-the-ark-smartbridge-and-how-does-it-work-1dd7fb1e17a0
It is developed by the ARK team to allow intercommunication between the BTC, ETH, ARK, and LSK blockchains, among others.

>What does that mean?

One example of using Smartbridge is the transfer of payments through various blockchain networks. This allows users to send a transaction with a specific amount of ETH from ARK, directly to the holder of the ETH account, once the information is processed and verified. Other applications will eventually lead to the transfer of data for user profiles, service ratings, contracts, and other applications. The use cases really are endless.

Another use case could be a 3rd party coin exchange service may look for specific triggers and handle cross blockchain payments for their customers. For example, You have ARK but want to pay for a movie using Netflix Credits but you don’t have any Netflix Credits. You could go through multiple steps to transfer into these credits to watch a movie but because you are a member of Bob’s coinshift platform, you can send an ARK transaction to bob with the instructions to pay for the video you want to watch with Netflix Credits on your behalf. This would not require Bob to be there and would be handled by the Centralized and Decentralized system that Bob’s Coinshift provides instantly for the consumer.

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condensed roadmap

Hodling 1k ark here.

are we 51 yet?

>>2436913
We're in 9th and have over a million Ark, kek

>>2436913
biz has been top 51 for a week... last I checked we were 9th

So how much does one get per week holding 497 ARK?

Voted yesterday. Here for the long run

>>2436100
1. Is my passphrase my seed?
2. How do i verify my seed through the wallet?

>>2437021
7(422[Your ARK being voted / biz pool])

>>2437021
422*((your ARK)/(total ARK in delegation))

>>2437033
not sure what you mean, I don't think I ever had to do that but it was a while ago so I might be wrong

>>2437033
Your passphrase is that long list of random words you were given when you first made your ARK wallet.

>>2437134
ok i just used it to send. This is my seed also correct? I am going to wipe my os.

guys i don't have a lot of money, i know that people looking to become RICH MILLIONAIRES from sitting on 1 coin are frowned upon and i know noone can see the future

but i dont have many options here, im talking only being able to put $200~ dollars into crypto, i know i'm way too late for BTC/ETH to see any significant returns from those but be honest with me, is this looking good to stack up a garage full of lambos?

>>2436100
just bought 3000 ark. im in ride or die niggers

>>2437179
Yes. As long as you have that passphrase you can access your wallet from any desktop. It's basically your paper wallet.

A mobile wallet for Android and iOS is halfway done too, according to the roadmap.

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kek

friday ath 55k u heard it here first

>>2436100
>inverse unit price is over 2000 coins per BTC
After reading what anons posted the other day about market cap and circulating supply being strong indicators of an asset's capacity to increase bigly in price, how can you be sure this won't hover around single digit dollars forever? ETH has an inverse unit price of 8 per BTC -- was it like this as well?

Is there evidence that ARK will have wider adoption?

>>2436937
>>2436942

nice that's based, I'm in for 660 Ark, gonna hold for the foreseeable future

>Biz has over 1% of all the ark in circulation

That's amazing kek

>have 3.7k ARK on bittrex
>want to move to wallet
>"YOU HAVE HIT DAILY WITHDRAW LIMIT"
i'm being cucked hard here

>>2438066
So if this thing doubles or triples you want no part of it. You'll only invest if it reaches ETH-tier success?

>>2438153
Enable two factor verification and you will no longer have a limit.

>>2438165
Nice swerve. I will invest if there's a sufficient capacity for it to rise. How is it that a coin with a large circulating supply relative to its market cap can increase in value?

>>2438180
true, but i really don't want to give them my ID
:T

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>>2436100
Ark's moon mission has commenced. Get your tickets to Lambo Land for under 40k Satoshi! Pic related.

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ITS HAPPENING!

>>2438190
I'd ask the same question about DGB or BITB or DOGE.

But the difference between those and ARK is that ARK has way less supply, and way better tech.

The tech is better than ANY coin quite frankly... they are linking blockchains together and they are networking heavily with other teams. They are going to implement IPFS, and they are still relatively low when it comes to price AND circulating supply.

I wasn't trying to swerve, but I just don't think you understand market cap... or at the very least you give it too much clout.

You can have the shittiest coin out there, and on paper it may look like a winner because of market cap and supply. That's why I take it with a grain of salt, and even then, I'm not investing unless I love the product, the tech, and the team. (unless it's a P+D shitcoin)

So I'd like to know what your aversion to the coin is... is it purely skepticism because of a formula someone gave you? thats what it sounds like

>>2438263
My aversion is I'm a naturally skeptical person and around exams there hasn't been time for researching the coin. Grilling anons on /biz/ remains a fast, effective, and meaningful way to get the lowdown, and reminds me of the critical discussion I used to have and see on /pol/.

I consider that ETH had promising tech and huge corporate backing as a corollary to its success; I'm not sure if its market cap was lower before it rocketed earlier this year. So the criteria seem to be:

>Is smartbridge tech easy to implement, secure, network, etc. and does it provide an edge over alternatives
>Does ARK have any semblance of momentum behind it in the way of institutional usage
>Is the market cap issue actually an issue (cf. ETH)
>Is the rumour about 2 years of development hell substantive

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>>2438263
I don't expect you to go out and find all these things for me anon, I'm not a wanker -- but these are my concerns.

I would like to congratulate Biz on rank 8 for the delegate pool.

Ark is what the cool kids buy these days.

>>2438370
wew
grats, lads
do we get more gains for being higher?

>>2437207
it all depends on whether the normies/boomers enter the crypto market in a big way. I think this a great position for potential upside in the next 2-3 years IF crypto continues to take off (which I believe it will).

>>2438331
>Is smartbridge tech easy to implement, secure, network, etc. and does it provide an edge over alternatives
I have somewhat of a CS background, at least enough to understand the fundamentals and from what I've heard in interviews and podcasts about implementing such a system is that the code would be fairly simple to implement... ie. its a matter of attaching a string or some kind of data to each block that would be parsed and perform a function on the receiving side.

Wide adoption of this would be a bigger issue, which is why I believe they are networking with so many other dev teams. See the pic related at >>2436100

>Does ARK have any semblance of momentum behind it in the way of institutional usage
I believe so, or at least I see what I consider to be evidence of it in the fact that their community has outreach and is one of the biggest slack communities in the crypto world AFAIK. Vitalik has stated (I can't remember source, but was probably Epicenter on yt) that this tech is the next big thing in blockchain technology and broke it down on a technical level as to why we will need it, and why it will be widely adopted.

>Is the market cap issue actually an issue (cf. ETH)
I toss that into TA, and I think TA is somewhat of a self-fulfilling prophecy when it comes to crypto. It's a relic of a different market system that operates in a different arena... yet it's all we have to gauge trends and make predictions and such (barring practical analysis and news/announcements, etc.)

>>2438392
no, you actually get losses lol. You make less the higher you are. #51 makes the most per ark.

>>2438392
>>2438607
The downside is you risk getting knocked out of top 51 and earning 0.

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>>2438478
I read about IPFS last year; on paper it seems great but it does require a paradigm shift in the way the net operates -- that is its purpose, after all. Time will tell in that regard, and it plus crypto is a match made in heaven. Smartbridge tech itself is my concern: the example given here >>2436119
>You have ARK but want to pay for a movie using Netflix Credits but you don’t have any Netflix Credits. You could go through multiple steps to transfer into these credits to watch a movie but because you are a member of Bob’s coinshift platform, you can send an ARK transaction to bob with the instructions to pay for the video you want to watch with Netflix Credits on your behalf. This would not require Bob to be there and would be handled by the Centralized and Decentralized system that Bob’s Coinshift provides instantly for the consumer.
seems counterintuitive prima facie: why is Bob a necessary party in the transaction? How do we trust him?

Re: the vitalik connection and community takeup; that's reassuring, assuming that the Russian isn't much of a salesman. The market cap issue is less horoscoping and more arithmetic: if there are 90 odd million coins in circulation, each worth a dollar, that's a $90m market cap. The leader is BTC and soon to be ETH with something like $30b -- that's room to move of around $29.91b, or $332 per coin, i.e. if we assume ARK is intrinsically worth less than ETH then its market cap has a ceiling of ETH's, which lets us figure a ceiling unit price, assumption holding true. Whether or not it's bullshit, or if we handicap it and guess it could rise to a tenth of that, that's huge regardless.

>>2438607
lol goddamnit

>>2438607
We should shoot for ~35. You may be able to bounce back and forth between 2 delagates monthly/bi-monthly if you have enough in your wallet... Haven't done the math tho. Don't have enough in my wallet to bother.

>>2438651
The problem with this advice is that 2 or 3 whales are all it takes to drop you in or out of top 51, so it's not quite that simple.

>>2438624
>I read about IPFS last year; on paper it seems great but it does require a paradigm shift in the way the net operates -- that is its purpose, after all. Time will tell in that regard, and it plus crypto is a match made in heaven.

This paradigm shift is EVERYTHING. The internet, currency, data storage, etc. The paradigm shift is already happening and we are at the cusp of it... that is why we are making money on our investments to begin with.

>why is Bob a necessary party in the transaction? How do we trust him?

Because unfortunately, you still have to convert crypto to a centralized system before it can be used (ie. fiat) and some intermediary has to be there to facilitate this exchange. This will always be true up until the day that crypto overtakes fiat altogether

>>2438700
>the day that crypto overtakes fiat altogether

This is the real flippening.

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IS ANYONE ELSE SELLING FOR A POSSIBLE DIP TO BUY BACK MORE?

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>>243862
>why is Bob a necessary party in the transaction?
Great question. Schlomo Bobstein is a just money changer. But I can't think of any other way to do it... 2nd an answer on this.

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>>2438658
Fair enough. I was just talking crap anyway, really.

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>>2438700
>This will always be true up until the day that crypto overtakes fiat altogether
When crypto does overtake, why would that change the need for an intermediate. They'd just shift from exchanging between crypto to fiat and instead change crypto to crypto. ARK to BTC, or whatever.

I'm just missing some piece of information here that'll make me look retarded I think.

>>2438788
That's one of the use-cases of smartbridges... to facilitate the exchange of one crypto to another seamlessly and without an intermediary

>>2438761
https://blog.ark.io/what-is-the-ark-smartbridge-and-how-does-it-work-1dd7fb1e17a0
Further reading suggests someone needs to be there to 'physically' exchange the assets, and that they'd take a transaction fee. I suppose that fee would have a very, very low equilibrium point, assuming that the technology is easy to set up and scale -- if it outweighs the opportunity cost of operating on an exchange. This begs the question, why would exchanges not just capitalise on this opportunity? Is this method more effective than whatever centralised architectures they're running on their backends? If it is, and exchanges pick up ARK behind the scenes, does it matter if it takes up public adoption if its being used as the lingua franca of major exchanges (i.e.: carries practical value as gold does)?

>I hope this article made it easier for everyone to understand how ARK SmartBridge technology will work. We will be releasing a more in-depth and technical whitepaper for SmartBridge once we get closer to full SmartBridge release.
Decisions, decisions...

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>>2438849
But according to >>2438850's link it would require an intermediary to exchange crypto.

If you wanted to exchange 300 ARK for 300 ETH you can't just throw a thousand ark at it and convert it. That undermines the ability of people to mine their own coinage. And who says ETH is the same price as ARK? You need an intermediary for that action.

Who is or isn't trusted to handle those transactions is up to whoever's service you're trying to use I imagine.

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>>2439012
>a thousand
paragraph and example reformatting
should read "300"

>>2438753
I did, not convinced whales aren't finished fucking things up so I might as well accumulate.

>>2439012
idk bro ill i know is i put $100 down the other week and i'm going to wait a few years to see where this is going. I missed out on btc and eth. I will not miss out on the 3rd gen.

Here's a video I found that helps explain Ark pretty well: https://youtu.be/PI2eYIcvV5s

8s block times with 25 transactions a block => 3.125 txns/sec. Can anyone justify this?

That said, whitepaper claims these both can be changed with softfork

>>2439012
>Who is or isn't trusted to handle those transactions is up to whoever's service you're trying to use I imagine.
Essentially.

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>>2439034
No, I'm in the same boat. ARK sounds ambitious and like it has a shot in the long run. I also threw down ~$100 on it, and will probably throw a wee bit more down later.

I just want to understand every facet now that I'm (admittedly little compared to many others) invested.
>>2439071
That's fine, really. People selling shit wouldn't want to be tainted by disreputable services. I still imagine more than a few people will be burned down the line until things smooth over.

So how do I join the /biz/ pool?

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>>2437997
Nicely done, undervalued post.

And like clockwork the selling begins.
Why are arkers such butter hands?

>>2437997
>>2439399
lel

>>2436942
You mean three days, we hit it Sunday, I realize things feel like longer sometimes.

>>2439053
ARK has successfully tested 25 transactions per second, with 8-second block times on its testnet. Plans to be scaled based on demand

>>2438658
Not really as before others started piling in our largest whale was 100k, its not like some nodes where they have huge whales with 900k ark.

>>2436100
These cunts should be outlawed. BANCOR, ARK, WAVES, NXT and all others that make creating a token a fucking point and click adventure for scammy mcfucks to pollute the cryptosphere. It's fucking bullshit.

>>2440217
>OUTLAW IT
Hello Schumer, go fuck yourself. I hope someone kills you one day.

I'm highly, HIGHLY impressed with this coin and the organization of the team.

I really hope some whales get it in their heads to PnD this because it's becoming my favourite long hold and I want to see this coin in the top 5 one day.

>>2436100
Wait, so the Ark Slack held AMAs with all of those?

That's pretty impressive if so

>>2440781
I really hope some whales DON'T*

where to buy ark?

>>2440835
Bittrex

Just a thought... Say one was a whale and digs ARK, there really isn't anything preventing them from buying enough ark to make themselves a private top 51 delegate and hoard all the ark being generated? That'd be a very effective money machine.

>>2440841
How would I get it if my BTC is on Coinbase (I heard your account gets frozen)

>>2440863
You could, but you'd need over $500,000 in Ark to do it, and even then other delegates could overtake your spot eventually.

I want to like Ark so badly, but... is that team really that great? They look like a bunch of hobbyists with a few exceptions in the bunch

>>2440883
The ROI is still through the roof. At 422 ark per day you're looking at 154030 ark generated yearly. Buy enough to land you at top 40 or somewhere comfortable and then let the daily ark accumulate to keep you at the top.

>>2440903
And if Ark hits $10... that's over a million dollars a year in generated Ark.

I bought 5K of this shit. Haven't voted. Go make me some money niggers and I'll worry about your delegate memes.

>>2440864
>buy dogecoin with btc on coinbase
>deposit dogecoin from coinbase to bittrex
>buy btc with dogecoin/sell dogecoin for btc
>buy ark with btc on bittrex

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>>2436119
you it connects the other currencies, but what does that mean? more confirmations to make it more secure? faster payments? spell it out for retards like me

I only own like 130 ark, is it worth voting? or will I spend more ark than I would make?

>>2440899
The exceptions make it a great team, as far as hobbyists remember that Vitalik was nothing more than a hobbyist originally.

>>2440903
>>2440863
Yes, that can absolutely be done. Just look at the delegate ranks, pretty sure some of those are whale teams, like bbclubark for instance. As more people get it into their heads to do this the price will be forced up though, soon it would be cost prohibitive.

>>2438206
zoom out a little, there's a great wall over yonder
atm ARK cycles once a day from 29k to 33k+
I suggest anon takes advantage

>>2441581
Yes, not only are the admins working on making smaller bag holders get a bigger payout than whales, but they're also making it so the longer you're in, the more you get.

>>2441078
We have no real incentive to convince you as we're already top 51 and the more ark that's in our pool the less profit each of us gets at this point.

>>2436100
I know fuckall about cryptos, but I've been convinced to buy a measly 46 ark with my eth hodls, because ive seen a growing hype train around ark, I kinda want to throw more money at it, but first I want to know why, and how big profits may look like

>>2441655
I'm expecting at least x3 by end of year and I'm more conservative than a lot that are invested in it, this is assuming that crypto as a whole doesn't collapse like 2014 though. Main reason I'm invested in ark is that I wanted a longterm hold that I could get staking gains from though and that's definitely not worth it with only 46 ark as transfer fee would eat up all your profit.

>>2441688
im looking at crypto as more of a long term investment thing, because if you look at bitcoin, it went from nothing to a big something, so im going to hodl until its worth big numbers, assuming that ever happens

if I had 46 eth or btc it wouldnt be eaten, I want to know is ark can achieve numbers like that

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Is there a way to see the different voters' balances? I'm curious of the spread, how many whales and little fish we have.

How does ARK make money?

>>2441688
huh, update, i've doubled the 40 quid worth I put in, maybe I should actually do this more often

>>2441709
I don't think it will be that big but finding another ETH/BTC is unlikely with any coin.
>>2441716
https://explorer.ark.io/address/AaPN5Sr4duPrwXX3E6smeQ7GfnXNaUPUCq
click + next to voters, then you click on individual wallets to see how much people have. Wallets are listed in ascending order.

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>>2441740
THANKS

>>2441733
Transaction fees maybe?

>>2441740
Ark has a very similar following to eth and bitcoin as they were beginning, its the same kind of people that tried getting me to buy eth when it was worth 6 bucks, it doesnt feel like a shitcoin

that might sound like bullshit but I make 240 dollars an hour for assessing people psychologically, so eh

>>2441765
So did you buy in?

>>2441765
Well it would be nice if I was wrong, I have 3.5k ark that I plan to hold longterm.

>>2441765
>>2441783
and by wrong I don't mean to imply that I think its a shitcoin, I just don't see the growth being as explosive as ETH/BTC was.

>>2441781
Have 46 so far, want to feel it out before I put big numbers in

>>2441790
yeah no I understand, but technologically speaking its better than Eth, isnt it?

>>2441800
it and several other coins

>>2436100
on other news, it will continue to rise for at least an hour.

>>2441806
those several other coins dont have the quiet hype that Ark has, people are excited about Ark, excitement drives gains

>>2441800
>>2441806

there are a lot of coins with better tech then btc but there is more trading then real use cases for these coins so it is hard for the tech to be the selling point as it should be

>>2441809
I'm waiting for the next dip. I never buy in the middle of a pump.

>>2441826
The tech is the selling point for whales only, and whales are cautious risk takers, they will only bet on something that already has support - Ie: people were excited about ethereum, but there were few initial gains, even as excitement grew, but because the excitement kept getting louder, the chinese markets cracked, and they saw the potential profit in the tech, I see Ark going the same way because of the mentality around it

>>2441840
i was expecting ltc to grow because of those same reasons (since they have implemented segwit and made their first LN payments) but still didnt happen even though its quite a bit faster then btc with lower fees

>>2441830
aim for an entry price around 29k

>>2441852
look at the public perception of it though, people see it as shittier bitcoin

>>2441830
ride the whale, he ain't going nowhere
my SOP:
1 buy@29k
2 sell@33k
3 buy@31k
4 sell@34+k
5 GOTO 1
I also understand why he chooses coins like ARK to run his bot against; it's an attractive crypto with loads of potential and actual value proposition that keeps bringing in fresh plankton who don't zoom out on the daily pattern

>>2441852
there was no real reason for ltc to grow, "like bitcoin but faster" applies to literally every coin on the market.

>>2441861
yea there are a number of factos that come in play with each coin that sometimes surpass the tech itself. that was my point.

>>2441885
tech wise, can you tell me why Ark will boom, im hyped for it from a marketing standpoint, but without the meat in the pie theres nothing for it to stand on in the long term, and remember, I know nothing about cryptos

>>2441885
yea but the basis for LN seems like a cool idea. direct transactions in which you dont have to wait for the next block can really improve the experience. but im getting offtopic with this

>>2441905
I'm not the guy to explain tech stuff, I basically bought because of the dev team and staking ROI.

>>2441905
See
>>2436119

I asked the devs in the slack who the Ark spokesperson would be for presentations, and they said it would be Travis Walker. A different euro team member will do any presentations/conferences in Europe.

Right now they have a presentation scheduled at a hackathon in New Jersey, and another one at a larger tech conference later this summer.

If anyone was curious

>>2441948
ty

>>2441948
>The use cases really are endless.

The thing is you will read this in any coin. the use cases might be endless but the implementations may never come

not fuding by the way, I do hold ark and i think its a good investment

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Coins like Ark will a full team working on them and a big vision don't come along too often. The things with projects like this when you get in at the bottom is that it can either go one of two ways.

You put in a thousand or two and you lose it. Or you make 100-1000x return over a couple of years and make life changing money. The upsides far outweigh the downsides in a project like this.

That's why I feel so comfy personally. I've already accepted both of these outcomes.