Last Week in Quarry, April 22nd

First things first: The results are in! We polled our Quarrior Telegrammers to find out if there was a preference for a dynamic or static ROX reward pool. Currently, the pool is statically set to 30,000 ROX, and divvied out according to individual influence (how many stakes you have measured against when an up-vote is placed). Out of 249 votes, 88% said ‘YES’ — thank you every one that participated!

Here’s what I’ve in mind to calculate a Dynamic Reward Pool for daily ROX rewards:

CONCEPT FORMULA FOR DYNAMIC REWARD POOL

Keep in mind this is not the exact formula, as what’s considered ‘Good Comments’ has to be formulaic in some way as well. But I think some kind of performance check is necessary to ensure quality engagement and controls. It’s also a preventative measure to keep Quarriors from submitting garbage comments (ie ‘Good’ ‘Great’ ‘This’ etc).

Your thoughts are appreciated, please message me your ideas and concerns (@boondoge on Telegram or help@quarry.rocks)!

editor’s choice: Top 5 Posts

  1. Harvard Invests Millions In Blockstack’s Token
  2. Crypto Exchange Poloniex Adds Support for USDT on Tron Blockchain
  3. The Crash of the Cryptocurrency Market; Is now the time to buy Bitcoin?
  4. BitForex Decides To Not Delist Bitcoin SV
  5. Bitcoin [BTC]: John McAfee reveals he received many emails from people claiming to be ‘Satoshi’

Quarry App Spring Cleaning

In preparation for our upcoming update we’ve been cleaning up the app a little bit. Doing a little bit of pruning, if you will. Some of you may have come to find the comment section relatively unhelpful and containing the occasional spam message. This week we’ve taken the liberty of banning a few individuals, whom of which have been particularly annoying.

You may find the banned list here:

Am I Banned?

In the past we’ve maintained a particularly light touch when it comes to banning users from the app, preferring to ban types of content rather than individuals. Some users continue to abuse our patience, and so we’ve dealt with them accordingly.

If you’re wondering what metrics we used to ban or not to ban please check out our standards for Etiquette when posting and commenting in Quarry.

If you find yourself banned, you may appeal your sentence by emailing us at help@quarry.rocks — Please explain why your account should be reinstated and why you believe the Quarry community needs you.

Who Wants to Live Furever?

Hello again my fellow Quarriors! With a little over a week left, this contest from the makers of CryptoKitties has garnered a lot of attention within Quarry, and I just wanted to take a moment to double-down on my claim: If Quarry wins this cat, 100% of proceeds from the sale will go to all of you!

If you haven’t signed up yet, it’s easy and only requires your email. Use my referral code, here: http://swee.ps/GTGRBBDQQ

How much could it be worth?

Hard to say, I’ve used a conservative estimate of $500, but it’s likely going to be worth much more than that.

Even if we don’t win, I highly encourage everyone to sign-up. We all have a chance to claim this little guy — no matter how small — and if you’re not big into CryptoKitties, here’s a little explanation for how it all works:

CryptoKitties is a game centered around breedable, collectible, and oh-so-adorable creatures we call CryptoKitties! Each cat is one-of-a-kind and 100% owned by you; it cannot be replicated, taken away, or destroyed. It’s is one of the world’s first games to be built on blockchain technology—the same breakthrough that makes things like Bitcoin and Ethereum possible. Bitcoin and ether are cryptocurrencies but CryptoKitties are crypto-collectibles. You can buy, sell, or trade your CryptoKitty like it was a traditional collectible, secure in the knowledge that blockchain will track ownership securely.

https://www.cryptokitties.co

So why is this contest a big deal?

This cat will be ‘Gen 0’, meaning that its traits could be highly valuable to the CryptoKitties community. Breeding is one way to make some solid ETH on their platform, and the more rare the more valuable the more money each one will go for. It all reminds me of the Beanie Babies fad in the ’90s.

Also, if Quarry wins this cat — I will do my best to use doge as the image inspiration… it’s all dependent on whether they’d let me do that or not.

Just your daily dose of the immortal Freddie Mercury of Queen

The Crypto Winds Are Blowing

Hey everyone, the cryptocurrency market as a whole has been taking some topsy-turvy turns, and I just wanted to give a quick update on where our developmental heads are at and which way Quarry is moving.

So far, we’ve been largely unaffected by the downturn in blockchain. For the last few months, since the beginning of November, we’ve been running an experiment. Essentially, we wanted to test how much we could drive the Quarry community by incentivizing growth through in-app activity and redeeming ROX for ETH. While we can’t argue with the results, that this type of promotion definitely increases installs and drives the community forward, we’ve found that negatives far outweigh the positives and that the direction this drives towards is not one in which we would like to go.

For these reasons — and a few others — we will be discontinuing the withdraw and ROX for ETH functionality in the Quarry app, effective immediately. We will honor currently pending withdraws (those dated before January 15th).

In future updates, we will be pivoting in a new direction, one that is more centered around building an intrinsically motivated community focused on blockchain technology and cryptocurrency news.

As a little teaser and to clue you all in on what that direction will be, our biggest goal is the development and completion of ROX as a trad-able token. The symbol may change, since the ROX symbol is already taken, but the rest will remain mostly the same.

Stay tuned, and here’s to 2019 being the year of the Quarrior!

Scam or not: Free-Litecoin.com

Since the launch of Quarry, I’ve received a lot of questions from individual Quarriors about the validity of certain programs and giveaways, and I’ve done my best to determine the validity of each one. At times, it can be very difficult to determine whether an offer is real or not on the internet, and when pressured to ACT NOW or that TIME IS LIMITED our fear of missing out can sometimes get the better of us.

So, this segment / post / topic is dedicated to the discussion of these so-called offers and whether or not they’re doing what they claim to be doing, ie: Paying out.

Real or Fake: Free-Litecoin.com

Well, at first glance the site seems okay, but any time someone is offering something ‘free’ — the question becomes: How? Unless it’s some sort of non-profit or government funded agency, revenue and operational costs always apply. So, how is this website benefiting?

The obvious answer here is through transaction fees, but my fear is that something more sinister lurks beneath the surface. Am I the product? Or… am I the prey?

PLEASE CONSIDER THE FOLLOWING:

🛑 Red flag #1

FORCING REGISTRATION

I absolutely HATE having to create an account just to see what something is all about, and here we have this website doing exactly that. No proof, no nothing on the main page, and all links go straight to home. This is a bad sign.

⚠️ Yellow flag #1

RECOMMENDS SPECIFIC HOT WALLET

Hot wallets are breach-able, and knowing where your wallet is located is half the battle. There are a number of fishing techniques that can work out your login and password for hot wallets. The only reason I don’t consider this a red flag is that the website is suggesting a relatively well-known wallet.

I must mention though, it is my opinion they’ve chosen LiteVault for the speed in which setting up a new wallet is possible, and certainly not for the security.

🛑 Red flag #2

TERRIBLE ENGLISH

I’m not confident they’re even trying to have good English. The main site, before login, is okay — minor mistakes here and there — but once you create an account and login it gets pretty bad. At this point in the discovery process I’m feeling like the front-end section of the site was purchased and then customized the member’s section.

⚠️ Yellow flag #2

NO SEARCH INFORMATION

Can’t find a lot of information about this website, so not many people are talking about it… meaning not many people are making any money. There is some payment proof out there, and this forum discusses it in some small detail, but the best exit scams have significant payment proof.

🛑 Red flag #3

NO READILY AVAILABLE PROOF

The biggest worry I have is the fact that this system is not decentralized. You’re forced to have faith in the system, and can’t checkout their code or contract until you’ve gone through all the work trying it out.

The cynic in me says that this website is designed to gather Litecoin addresses, emails, and potential logins via LiteVault & registration while simultaneously promoting a snowball effect to get more Litecoin via gambling into the system with a main goal of exit scamming.

It does payout, at least for now — and fees do apply.

TL;DR: 3🛑 + 2⚠️ — PROCEED WITH CAUTION

What do you guys think?