Best TruStories of the Week - #3


#21

Claim: Ethereum 2.0 will get to a Billion Transactions a Day

Source: https://www.trustnodes.com/2018/09/23/ethereum-2-0-getting-to-a-billion-transactions-a-day

Evidence/Argument: This claim is based on proposal made by Vitalik on Ethereum scaling solutions for future and the theoretical facts and assumptions made on future state Ethereum Network and not based on the values produced on stress test results on any test Ethereum network. Hence this claim is hard to prove with data currently available on internet. The key technologies proposed to reach the billion transaction volume are Proof-of-Stake (PoS) consensus protocol, Sharding, eWASM etc.

These are some of the docs which provide Ethereum 2.0 specification and the proposed transaction volume
Ethereum 2.0 specs:

Status: Cannot be proved


#22

Thanks, I have updated the status for the third claim accordingly.


#23

ok cool - I changed the claim. please let me know if it was done correctly :slight_smile:


#24

Claim: The State Treasurer of Ohio has said the following:
“I believe in leveraging technology for the democratization of finance. I think one of the reasons why there is a growing interest in bitcoin is because it empowers individuals and gives them more freedom and options."

Source: https://twitter.com/APompliano/status/1067528773950685187

Evidence/Argument: https://www.theblockcrypto.com/2018/11/26/ohios-treasurer-talks-up-bitcoin-tax-payments-transparent-government-and-his-own-future-as-a-crypto-owner/

According to The Block, Ohio state treasurer Josh Mandel had an exclusive interview with them. In the above link, a transcript is presented for The Block’s interview with Josh Mandel. Based on this transcript, it is true that Mandel said what Pomp claimed on Twitter.

Verdict: True


#25

Nice find, @sijo0703! This is exactly the type of thinking we need! This claim is a future prediction which can’t be proven until the mainnet is launched.


#26

Claim : Hiring platform #Zinc is using blockchain to develop an automated referencing, feedback and assessment tool. Related-claim : To use automated referencing…to help restore trust to the industry.

Source for claim : https://twitter.com/zinc_work/status/1065584479144685569

Evidence/Argument:

  1. In-depth description of smart contract architecture: https://medium.com/zinc_work/zinc-smart-contracts-architecture-56d751a02824
  2. Github repository containing smart contracts written for Zinc: https://github.com/zincwork/contracts
  3. Zinc is Live on testnet: https://medium.com/zinc_work/zinc-is-live-on-testnet-56e4ecaafb3c

Used metamask to sign-in, their Testnet is indeed live and ready for demo-ing. You can see my name in the bottom-left corner with “30 credits” to play around with.

As a candidate, I can request “workshop proof” that I either attended/participated in some fashion. This corroborates Zinc’s sub-claim to use “automated referencing…to help restore trust to the industry” (except it’s not very automated, for now, you have to manually contact your references).


#27

Claim: Cryptocurrency mining giant Bitmain is facing a class action lawsuit for over $5 million that alleges unauthorized crypto mining by the firm.

Source: CoinDesk

Evidence/Argument: The crux of this claim is that S9 Antminer ASICs take hours to days to setup, and that during this time the machine will run at full power mode. The implication here is that during the period of time in which the S9 is not configured to the user, it will mine BTC and send it to a Bitmain-controlled address.

As of now, it is unproven whether or not the default S9 bitcoin address belongs to Bitmain or not. The accuser is correct, however, in suggesting that there is a degree of idle time involved in ASIC set up: for a technical user, it’s pegged at an hour or two. [1] Whether the lawsuit’s $5 million litigation is accurate or not, the electrical costs alone of running an ASIC at full-power prior to mining functionality are onerous and should arouse suspicion as to why they are configured default as such.

[1] https://wiki.multipool.us/mediawiki/index.php/Guide_to_Mining_with_a_Bitmain_Antminer_S9


#28

Great analysis, @mfiege!

I noticed the claim is a duplicate of this one from earlier in the thread: Best TruStories of the Week - #3.

Quick feedback: next time, just reply to the existing claim with your analysis (which is awesome btw).

again, great work!


#29

I guess the TruStory app will have a feature to display duplicate claims based on text whenever someone tries to enter a new claim. Just like the stackoverflow feature so that duplicate claims can be avoided. Thanks!


#30

Claim: Blockchain based company SALT Lending being investigated by SEC

Source:

https://www.wsj.com/articles/firm-tied-to-cryptocurrency-entrepreneur-faces-sec-investigation-1542319602

Evidence/Argument: https://blog.saltlending.com/cutting-through-the-noise-f96edd2ecbc6

The official blog post of SALT Lending points to the fact that SEC is in contact with the company but any of the details regarding the investigation is not public information until the case is in court. SEC investigation process is mentioned in SEC site.
https://www.sec.gov/fast-answers/answersinvestghtm.html

Status: True


#31

Claim: The Vakt platform is based on the Ethereum blockchain
Source: https://techhq.com/2018/11/north-sea-oil-will-be-traded-on-blockchain/
Evidence/Argument:

  1. there’s a press release at the Vakt’s website stating the following: underpinned by JPMorgan’s Quorum private distributed ledger;
  2. on the Quorum’s website it states the following: Quorum™ is an enterprise-focused version of Ethereum
  3. on the Quorum’s github page there’s a clarification: Quorum is a fork of go-ethereum and is updated in line with go-ethereum releases.
    Status: both TRUE and FALSE!

True because Vakt is based on Quorum (1) which is based on Ethereum (2,3) … so we could conclude that in fact Vakt is based on the Ethereum blockchain software (although even here one could argue that it’s not based directly on the Ethereum’s software so the claim is not that accurate)

False because Vakt is not based on the Ethereum blockchain platform (“the mainnet” etc).

And so if somebody read that article and assumed that it’s about the Ethereum blockchain platform (not just the code) that person could get inspired and buy ETH based on such news. But there are many forks of Ethereum, and their success could be unrelated (or even produce some negative effect) to the ETH/fiat exchange rates.

Hence it seems pretty important to clarify the distinction and not mislead the readers; but at the same time we can’t just mark the claim as False because its another reading (1,2,3) is True.

Question: @preethi how shall we handle cases like this one? In the TruStory app, if there will be a single True/False input field, either answer could be inaccurate


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What's a story on TruStory?
#32

Great find @yury! As I read it, when someone says Ethereum blockchain, I am going to think the public Ethereum chain. Ethereum blockchain by default means the public chain. So this should be Rejected for being a false claim.

If the originator wants to fix this, they should remove the ambiguity in the claim.
"The Vakt platform is based on the public Ethereum blockchain" or
"The Vakt platform is based on a enterprise-focused version of the Ethereum blockchain."

Does that make sense? :slight_smile:


What's a story on TruStory?
What's a story on TruStory?
#33

Thank you @preethi for these examples, if the article used one of these claims instead, indeed things would be much clearer!

Still I’m worried about the question, but maybe we’d better continue in a more appropriate topic as it’s a bit of an off-topic here and also in that topic more people would be able to see the answer as the weeks go by.


#34

Claim: The US Treasury has blacklisted two bitcoin addresses belonging to Iranian citizens. Regardless of whether a transaction is denominated in a digital currency or traditional fiat currency, [Treasury sanctions] compliance obligations are the same.

Source: https://www.wsj.com/articles/u-s-treasury-adds-digital-currency-to-means-of-identifying-sanctions-targets-1543446964

Evidence/Argument: https://bitcoinexchangeguide.com/bitcoin-addresses-remain-unable-to-be-blocked-or-blacklisted-by-us-government/

The compliance obligations for crypto currencies vs. fiat are not the same because you can not block a bitcoin address from sending or receiving money. That’s the entire point you cant reverse transactions or use your central authority to coerce action.

Status: False


Best TruStories of the Week - #4
#35

Claim: Sleep Number mattresses record people in their homes.

Source: https://twitter.com/sleepnumber/status/1068297192941600768

Evidence/Argument https://twitter.com/sleepnumber/status/1068297192941600768 Sleep Number shortly replied saying they do not and will update their privacy policy

Status: False


#36

Claim: STO is pointless for your business. It doesn’t free a business from responsibility. If you want to make an equity-like offer and avoid equity dilution (one truly good feature of utility tokens), simply sell revenue participation notes.

Source: https://medium.com/swlh/beware-of-sto-security-tokens-hoax-b87a148ed7b4?fbclid=IwAR1uweosYkXLcInRhea206IwliMW4PI4B0EH_qffu7K5YutEWCdlROTmBRk

Evidence/Argument: Greed

Status: Pending
The claim need to be debunked overtime because STO are some what new, is no way to proof that STO are pointless to your business.


#37

@brunocecchini23 just want to clarify the claim a bit. What responsibility does it not free a business from? does the source say?


#38

Claim: Before founding Ethereum, Vitalik put considerable effort in 2013 into trying to convince investors to fund him in constructing a quantum computer to mine Bitcoin.

Source: https://twitter.com/danheld/status/1068537882728521728?s=20

Evidence/Argument: @bhaumik

Status: @bhaumik


#39

Claim: No quantum computers able to solve practical problems are verified as existing as of early 2017.

Source: https://twitter.com/danheld/status/1068537882728521728?s=20

Evidence/Argument: @sankalp221

Status: @sankalp221


#40

Claimant here is saying that in the absence of evidence that quantum computers have practical use, they can’t verify that they do. And this would depend on the meaning of practical; affordable, accessible, widely used?

This claim seems like solid reasoning.