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[FAQ] Oyster - Read Here First

Updated June 28, 2018
Q: "What phase of development is the project currently in?" A: We released our mainnet beta! Test it here: https://oysterstorage.com/. Currently a 25MB file size limit.
Join our Discussion on: Oyster Protocol (Telegram) Oyster Trading (Telegram) ☆공식☆오이스터 한국 채팅방~ (KakaoTalk)
Quick explanation: -Oyster is unique because it enables an anonymous and decentralized user-friendly way to implement both its revenue generation (only have to add a line of code), and file storage. While the floor value is pegged to the value of storage it provides. Oyster allows websites to have their own financial autonomy by not relying on monolithic advertising platforms like Google and Facebook. Any of these platforms can bully a website due to political motivations, whilst the advertisements themselves are rarely assertion-neutral.
Q: "How to add the PRL custom token to your wallet?" A: Contract Address: 0x1844b21593262668B7248d0f57a220CaaBA46ab9 Symbol: PRL Decimals: 18
Q: "How to add the SHL custom token to your wallet?" A: Contract Address: 0x8542325b72c6d9fc0ad2ca965a78435413a915a0 Symbol: SHL Decimals: 18
Q: “What makes Oyster Unique?” A: Oyster is the first solution to ever: 1. Guarantee 100% that uploaded data is not leaked, no need to blindly trust a binary executable. 2. Have it’s value pegged to something tangible and valuable (storage) in a decentralized way. Every other peg of value was centralized and hence fell apart, think about how the dollar used to be pegged to gold. 3. Allow websites and apps to earn revenue in a decentralized way, no political leverage or TOS from monolithic advertising platforms. This is a game changer for investigative journalism and similiar efforts.
Q: "Can Oyster work on insert platform here" A: Yes, anything where you can run javascript. Oyster can be installed even in smartphones apps and your fridge if we have time later.
Q: "What phase of development is the project currently in?" A: Test Net A has completed! The project is currently developing the Test Net B.
Q: "When will Oyster be listed on more exchanges?" A: There are talks with many exchanges at this moment. Information on what exchanges will not be released until we have confirmation from the exchange.
Q: “What is the total supply?” A: The hard cap defined during the ICO was 500,000,000. During that time a total of 108,592,692 were minted. On March 1, 2018 10,000,000 tokens were burned. The new total supply is 98,592,692. The dualsig-wallet of the development fund can be found here:
Q: “Can this be blocked by AdBlock or similar? A: Yes. All scripts can be stopped from running on a webpage. Oyster offers an alternative to ads which could potentially be malicious, and or be visually disruptive to the user. While also reducing storage costs. Oyster allows websites to have their own financial autonomy by not relying on monolithic advertising platforms like Google and Facebook. Any of these platforms can bully a website due to political motivations, whilst the advertisements themselves are rarely assertion-neutral.
Q: “Will 1 Pearl always equal X GB/Year of storage?” A: No, There are two options, that it increases (permanently) in storage peg according to the amount of PRL that is used for storage, or it increases (permanently) according to the linear passage of time.
Q: “What exchanges is Oyster currently listed on? A: Currently listed onBitForex, EtherDelta, Kucoin, CoinExchange and CryptopiaThere are talks with many exchanges at this moment. BitForex was the latest exchange to announce trading of Pearl on 6/27/18.
Q: “Do I have to pay to access the data I have paid to store?” A: No, you can retrieve your data whenever you want for free.
Q: “Where is the data I uploaded stored?” A: Data is stored on the IOTA Tangle. This allows safe storage and the ability for at the moment several hundred users to simultaneously download that file at the same time without slowdowns.
Q: "What if IOTA fails?" A: Worst case scenario is we fork the iri software and run our own Tangle.
Q: “Could this lead to legal trouble? i.e The Cookie Law..” A: Oyster will provide a small notice of consent with a button to disable the PoW. Similar to the “Cookie Consent Notices.” Desktop Version Mobile Version
Q: “Will Oyster slowdown my computer?” A: No, if the browser is starting to struggle a bit, the javascript will detect the performance in real time and govern the PoW so that it does not burden the browser or become sluggish.
Q: Why not take payments in iotas, why fragment the ecosystem with PRL? A: The PRL token has unique functions in the smart contract that allows the Oyster network to operate. Oyster nodes will invoke the smart contract bury() function, which locks the PRL into a slow-release state. Other nodes hunt for the PRL with the claim() function, but because of the contract are only permitted to take a limited amount over time on a first-come first-serve basis. The private keys to the Ethereum addresses that hold the buried PRL are floating around on the tangle, like a massive treasure-hunt. So these two functions claim() and bury() are the primary reason why an ERC20 token was used.
Q: "Unethical Use of Web Storage?" A: While we understand that the potential to store vulgar material is available. All of the data is encrypted and unable to be read by anyone. So there is no way you could potentially get in legal trouble. If you are running an IOTA node you store a fraction of what is needed to complete that file. And only the uploader has access to it. I appreciate your concern again but this is illogical in my opinion. The data is completely encrypted. And spread out across the tangle. Oyster Pearl does not condone any disgusting activities that may occur. But we are just the tool. Almost everything can be used in a way people do not like.
Q: "Can a file be removed period? And can it be removed only by person uploading?" A: No. Once you upload a file and pay a number (or a fraction) of PRL to keep it uploaded for X amount of time, it'll exist in the Tangle until that amount of time passes. No one - not the Oyster team, not the uploader, and certainly no government - can take down the file. The only way for that specific file to disappear from the tangle is for the whole Oyster network (both the Broker nodes and web nodes) to go down for an extended amount of time.
Once the network is live this is considered an extremely unlikely event, so for all intents and purposes, you can consider the file irremovable.
Q: "Do you guys see data limits set by mobile phone providers and even ISPs like Comcast affecting whether or not people choose to do the PoW? Or does the PoW take up an insignificant amount of data?" A: Both the IOTA PoW (needed to keep the data on the tangle) and the Oyster PoW (needed to find buried pearls) occur on the device (the webnode) itself. The only interaction with the network occurs when the broker node offers the genesis hash, when it sends the transactions to validate to the webnodes and when those send proof of the PoW done.
All in all, the data usage should be minimal.
Q: "Data storage linked to "Know your customer" (KYC)? A: Never associated, only the storage user knows both the eth address receiving the PRL and the handle. Broker node knows the eth address but not the handle.
Q: "Can files be removed? And can it be removed only by the person that uploaded it? A: No. Once you upload a file and pay a number (or a fraction) of PRL to keep it uploaded for X amount of time, it'll exist in the Tangle until that amount of time passes. No one - not the Oyster team, not the uploader, and certainly no government - can take down the file. The only way for that specific file to disappear from the tangle is for the whole Oyster network (both the Broker nodes and web nodes) to go down for an extended amount of time.
Once the network is live this is considered an extremely unlikely event, so for all intents and purposes, you can consider the file unremovable.
Q: "What if I pay storage for 1 year, and next year I do not pay? Do I lose my files? A: When you pay for X amount of data to be stored for Y amount of time, you simply ensure that the data will be safe for Y amount of time. Nobody can modify or delete this data, not even the person who uploaded it.
After Y amount of time, the data will no longer be reattached to the tangle, so it'll stay there until it gets pruned off as the nodes get to their full capacity and are forced to delete old transactions.
Basically, you pay for it to last 1 year (or 2, or 3, etc.). You can be assured the file will still be there all the time you pay for. Additionally, it's possible you may be able to retrieve it after that, but you're no longer assured that it'll be there.
Q: "Can you make changes to a file already uploaded?" A: Not in the base protocol. Once you pay for a file to stay in the tangle for 1 year it's going to be there - with no modifications allowed - no matter what.
After the base protocol is finished a wrapper will be developed that'll handle directories, file versioning, etc.
submitted by Halunen to Oyster [link] [comments]

How-to & FAQ for holding Bitcoin and Ethereum in an RRSP/TFSA

A few months ago I came across a way to hold crypto in my RRSP/TFSA and have been answering questions about how to do that in comments, DM's, and Skype consults. I figured it would be helpful to put together one big comprehensive FAQ. Cryptocurrency is treated as a commodity by the CRA and you must pay capital gains taxes on any profits if held outside a TFSA. If bitcoin goes to $1m as some are predicting, the Canadian government is going to be taxing a huge windfall in capital gains taxes.
BACKGROUND
Bitcoin & other crypto cannot be held directly in a RRSP/TFSA, and there are no eligible ETF's in North America yet. However, the ETN COINXBT which trades on the Stockholm Stock Exchange in Sweden (Nasdaq Stockholm) is eligible.
ABOUT COINXBT
COINXBT holds bitcoin directly and its price per share is based on a 0.005 multiple of the current bitcoin price.
For example, if the current price of bitcoin is $10000USD, a share of COINXBT will be worth $50USD (ie: $493 Swedish Kroner)
Company's website and full prospectus at: https://xbtprovider.com/
Price quote / chart: https://www.bloomberg.com/quote/COINXBT:SS
HOW-TO TRADE
Only some Canadian brokerages allow you to trade on eligible international exchanges in your TFSA. Some do not.
Typically placing trades on international exchanges online is not an option and must be made over the phone broker-assisted at a much higher cost than typical North American securities.
CANADIAN BROKERS
I've called pretty much every brokerage to inquire if international securities can be held in a TFSA and what the fee is to transact. You may want to call yourself to see if policies have changed, but here's a summary:
Not available, or not available in RRSP/TFSA:
FAQ's
Are you sure it's legal? I'm quite sure it's illegal.
Who is your broker? CAD account?
How do I make a trade once I'm ready?
How do I calculate the number of shares to trade to max out my TFSA?
Market or Limit order?
When can I trade? Is it only possible to make the trade while the Swedish market is open and the TSX are open at the same time? Or can you place the order at any time of day?
Which number did you use to contact the brokerages?
What happens when there is a fork?
What about other cryptocurrencies?
How is the price of COINXBT determined?
Why not just buy GBTC?
Why can't I place a trade online myself?
Feedback
If you've managed to get crypto into your RRSP/TFSA in any other ways than listed above please do leave a comment and I'll update the post. Thanks!
submitted by Bastiat to BitcoinCA [link] [comments]

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