Why the Blockchain Is So Much Bigger Than Bitcoin and ...

Monero Monetary Policy?

Hello, first time poster here.
From what I can tell, there is significantly less entrenched orthodoxy applied to how monero does things compared to other cryptocurrency. Its the only one with ASIC resistance, has a dynamic block size, is willing to contemplate the concept of linear inflation rather than treating it as an unholy abomination, etc.
In general you guys have done a lot better of a job keeping down transaction fees compared to bitcoin, and as a whole are more inclined to plan for monero as an actual medium of exchange rather than a perpetually deflationary get rich scheme.
With that in mind, I have a few questions:
  1. In the event adoption of this cryptocurrency gets large enough that it ends up putting strain on the current dynamic block size status quo, what's the precise point at which you'll change how things operate in order to prevent a centralization crisis from an excessively large blockchain? What sort of exact security issues/etc prevents things like the lightning network from currently being options for this scenario?
  2. While to a large extent price stability comes from a sufficiently deepened pool of liquidity, as has been seen with recent trends in bitcoin's price, one thing I've got to wonder about is if things such as block rewards and transaction fees can be dynamically adjusted, akin to a more democratic central bank if you will, such that monetary tightening and loosening can be done?
A lack of commitment to permanent deflation would obviously hurt monero's market capitalization, but arguably that's not a particularly important metric compared to transaction volume.
https://finance.yahoo.comyahoo-finance/watchlists/crypto-top-volume-24h
Despite basically being a dubiously backed centralized "cryptocurrency", tether still sees a significant amount of transaction volume purely due to its utility as a unit of currency pegged to the US dollar. Now, while I'm sure precise information on monero's own true transaction volume is under-reported due to strong privacy protections in conjunction with low fees, tether does serve as a reminder for how much demand there is for stability.
Obviously its significantly more difficult to do contractionary monetary policy than inflationary, but would something like say, a decentralized dynamic peg work, where holdings of bitcoin/etc are bought and sold by a digital entity controlled by the miners work in order to stabilize monero? I'm just spitballing thoughts here though and I know there might be potential issues related to chain analysis. If you have any other good reasons why this is a bad idea please feel free to let me know. Thanks!
submitted by Roths____ to Monero [link] [comments]

Private investors are expanding their holdings after the Bitcoin price fell below $ 9,000

The increasing number of addresses with less than 0.1 bitcoins shows that the majority of small investors are using the current drop in prices to expand their holdings.
Although the bears are currently pushing prices to their lowest levels after halving, the market appears to be using the price level as a cheap buying incentive. This applies especially to small investors whose budget only allows the purchase of Satoshi units. The technical term means partial amounts in the area below a BTC.
Bitcoin prices have dropped by almost 12% in the past two weeks. It reached its preliminary low of $ 8,630 on Monday. There he gradually found himself after his latest high of around $ 10,000.
In fact, the decline in retail investors has been recognized as an opportunity. This is clearly shown in the form of the increase in Bitcoin addresses with a stock of up to 0.1 BTC
Glassnode says that the number of BTC addresses has increased to 8,478,746. This metric is also confirmed for addresses with a volume of 0.1 or less, for which the number has increased cumulatively in recent months. In this area, the network posted a new all-time high with 3,053,004 addresses.
According to Glassnode, in the weeks after the halving and the reduction of the block reward to only 6.25 BTC, an increase in purchases by small investors was noticeable.
Incidentally, the number of Ethereum addresses has also risen steadily in recent weeks. They are currently reaching the 40 million mark thanks to the positive mood on the market. On May 22, the number of addresses with 100 ether or more was 47,722. This is once again an all-time high - despite the current price war. The cryptocurrency had lost over 80% of its value after the all-time high in January 2018.

The new phase of accumulation

For a while, institutional investors were trying to increase their bitcoin holdings. Either way, the increase in addresses with less than 0.1 Bitcoin suggests that private investors are seeking to build up their holdings.
The fact that Bitcoin is currently being bought in the context of the price decline can be explained primarily by the fact that the crypto community is very good about the profit potential for the coming weeks. If history repeats itself, a new upward trend could be at the end of this year at the latest. In 2021, the course could continue to recover through another rally.
Still, the rise in cryptocurrency addresses doesn't automatically mean that more people are actually buying coins. As is well known, retailers can also use multiple wallets. Nevertheless, everything points to an increase in the purchase volume overall.
Meanwhile, Reddit co-founder Alexis Ohanian believes that the rise in deposits in the crypto world indicates upcoming price increases in the cryptocurrency market. Ohanian told Yahoo Finance Live that Bitcoin "came to stay." At the same time, he revealed:
"I have been investing a percentage of my assets in the crypto market for some time and I still feel good about it. I don't intend to change this practice too much. "
At the beginning of the month, billionaire Paul Tudor Jones had announced that he would buy Bitcoin. He called this the best way to protect yourself against an increase in inflation.
submitted by jakkkmotivator to thecryptobasic [link] [comments]

Vitalik's response to Tuur

I interlaced everything between Vitalik and Tuur to make it easier to read.
1/ People often ask me why I’m so “against” Ethereum. Why do I go out of my way to point out flaws or make analogies that put it in a bad light?
Intro
2/ First, ETH’s architecture & culture is opposite that of Bitcoin, and yet claims to offer same solutions: decentralization, immutability, SoV, asset issuance, smart contracts, …
Second, ETH is considered a crypto ‘blue chip’, thus colors perception of uninformed newcomers.
Agree! I personally find Ethereum culture far saner, though I am a bit biased :)
3/ I've followed Ethereum since 2014 & feel a responsibility to share my concerns. IMO contrary to its marketing, ETH is at best a science experiment. It’s now valued at $13B, which I think is still too high.
Not an argument
4/ I agree with Ethereum developer Vlad Zamfir that it’s not money, not safe, and not scalable. https://twitter.com/VladZamfistatus/838006311598030848
@VladZamfir Eth isn't money, so there is no monetary policy. There is currently fixed block issuance with an exponential difficulty increase (the bomb).
I'm pretty sure Vlad would say the exact same thing about Bitcoin
5/ To me the first red flag came up when in our weekly hangout we asked the ETH founders about to how they were going to scale the network. (We’re now 4.5 years later, and sharding is still a pipe dream.)
Ethereum's Joe Lubin in June 2014: "anticipate blockchain bloat—working on various sharding ideas". https://www.youtube.com/watch?v=oJG9g0lCPU8&feature=youtu.be&t=36m41s
The core principles have been known for years, the core design for nearly a year, and details for months, with implementations on the way. So sharding is definitely not at the pipe dream stage at this point.
6/ Despite strong optimism that on-chain scaling of Ethereum was around the corner (just another engineering job), this promise hasn’t been delivered on to date.
Sure, sharding is not yet finished. Though more incremental stuff has been going well, eg. uncle rates are at near record lows despite very high chain usage.
7/ Recently, a team of reputable developers decided to peer review a widely anticipated Casper / sharding white paper, concluding that it does not live up to its own claims.
Unmerciful peer review of Vlad Zamfir & co's white paper to scale Ethereum: "the authors do NOT prove that the CBC Casper family of protocols is Byzantine fault tolerant in either practice or theory".
That review was off the mark in many ways, eg. see https://twitter.com/technocrypto/status/1071111404340604929, and by the way CBC is not even a prerequisite for Serenity
8/ On the 2nd layer front, devs are now trying to scale Ethereum via scale via state channels (ETH’s version of Lightning), but it is unclear whether main-chain issued ERC20 type tokens will be portable to this environment.
Umm... you can definitely use Raiden with arbitrary ERC20s. That's why the interface currently uses WETH (the ERC20-fied version of ether) and not ETH
9/ Compare this to how the Bitcoin Lightning Network project evolved:
elizabeth stark @starkness: For lnd: First public code released: January 2016 Alpha: January 2017 Beta: March 2018…
Ok
10/ Bitcoin’s Lightning Network is now live, and is growing at rapid clip.
Jameson Lopp @lopp: Lightning Network: January 2018 vs December 2018
Sure, though as far as I understand there's still a low probability of finding routes for nontrivial amounts, and there's capital lockup griefing vectors, and privacy issues.... FWIW I personally never thought lightning is unworkable, it's just a design that inherently runs into ten thousand small issues that will likely take a very long time to get past.
11/ In 2017, more Ethereum scaling buzz was created, this time the panacea was “Plasma”.
@TuurDemeester Buterin & Poon just published a new scaling proposal for Ethereum, "strongly complementary to base-layer PoS and sharding": plasma.io https://twitter.com/VitalikButerin/status/895467347502182401
Yay, Plasma!
12/ However, upon closer examination it was the recycling of some stale ideas, and the project went nowhere:
Peter Todd @peterktodd These ideas were all considered in the Treechains design process, and ultimately rejected as insecure.
Just because Peter Todd rejected something as "insecure" doesn't mean that it is. In general, the ethereum research community is quite convinced that the fundamental Plasma design is fine, and as far as I understand there are formal proofs on the way. The only insecurity that can't be avoided is mass exit vulns, and channel-based systems have those too.
13/ The elephant in the room is the transition to proof-of-stake, an “environmentally friendly” way to secure the chain. (If this was the plan all along, why create a proof-of-work chain first?)
@TuurDemeester "Changing from proof of work to proof of stake changes the economics of the system, all the rules change and it will impact everything."
Umm... we created a proof of work chain first because we did not have a satisfactory proof of stake algo initially?
14/ For the uninitiated, here’s a good write-up that highlights some of the fundamental design problems of proof-of-stake. Like I said, this is science experiment territory.
And here's a set of long arguments from me on why proof of stake is just fine: https://github.com/ethereum/wiki/wiki/Proof-of-Stake-FAQ. For a more philosophical piece, see https://medium.com/@VitalikButerin/a-proof-of-stake-design-philosophy-506585978d51
15/ Also check out this thread about how Proof of Stake blockchains require subjectivity (i.e. a trusted third party) to achieve consensus: https://forum.blockstack.org/t/pos-blockchains-require-subjectivity-to-reach-consensus/762?u=muneeb … and this thread on Bitcoin: https://www.reddit.com/Bitcoin/comments/59t48m/proofofstake_question/
Yes, we know about weak subjectivity, see https://blog.ethereum.org/2014/11/25/proof-stake-learned-love-weak-subjectivity/. It's really not that bad, especially given that users need to update their clients once in a while anyway, oh and by the way even if the weak subjectivity assumption is broken an attacker still needs to gather up that pile of old keys making up 51% of the stake. And also to defend against that there's Universal Hash Time.
16/ Keep in mind that Proof of Stake (PoS) is not a new concept at all. Proof-of-Work actually was one of the big innovations that made Bitcoin possible, after PoS was deemed impractical because of censorship vulnerability.
@TuurDemeester TIL Proof-of-stake based private currency designs date at least back to 1998. https://medium.com/swlh/the-untold-history-of-bitcoin-enter-the-cypherpunks-f764dee962a1
Oh I definitely agree that proof of work was superior for bootstrap, and I liked it back then especially because it actually managed to be reasonably egalitarian around 2009-2012 before ASICs fully took over. But at the present time it doesn't really have that nice attribute.
17/ Over the years, this has become a pattern in Ethereum’s culture: recycling old ideas while not properly referring to past research and having poor peer review standards. This is not how science progresses.Tuur Demeester added,
[email protected] has been repeatedly accused of /criticised for not crediting prior art. Once again with plasma: https://twitter.com/DamelonBCWS/status/895643582278782976
I try to credit people whenever I can; half my blog and ethresear.ch posts have a "special thanks" section right at the top. Sometimes we end up re-inventing stuff, and sometimes we end up hearing about stuff, forgetting it, and later re-inventing it; that's life as an autodidact. And if you feel you've been unfairly not credited for something, always feel free to comment, people have done this and I've edited.
18/ One of my big concerns is that sophistry and marketing hype is a serious part of Ethereum’s success so far, and that overly inflated expectations have lead to an inflated market cap.
Ok, go on.
19/ Let’s illustrate with an example.
...
20/ A few days ago, I shared a critical tweet that made the argument that Ethereum’s value proposition is in essence utopian.
@TuurDemeester Ethereum-ism sounds a bit like Marxism to me:
  • What works today (PoW) is 'just a phase', the ideal & unproven future is to come: Proof-of-Stake.…
...
21/ I was very serious about my criticism. In fact, each one of the three points addressed what Vitalik Buterin has described as “unique value propositions of Ethereum proper”. https://www.reddit.com/ethereum/comments/5jk3he/how_to_prevent_the_cannibalism_of_ethereum_into/dbgujr8/
...
22/ My first point, about Ethereum developers rejecting Proof-of-Work, has been illustrated many times over By Vitalik and others. (See earlier in this tweetstorm for more about how PoS is unproven.)
Vitalik Non-giver of Ether @VitalikButerin: I don't believe in proof of work!
See above for links as to why I think proof of stake is great.
23/ My second point addresses Ethereum’s romance with the vague and dangerous notion of ‘social consensus’, where disruptive hard-forks are used to ‘upgrade’ or ‘optimize’ the system, which inevitably leads to increased centralization. More here:
See my rebuttal to Tuur's rebuttal :)
24/ My third point addresses PoS’ promise of perpetual income to ETHizens. Vitalik is no stranger to embracing free lunch ideas, e.g. during his 2014 ETH announcement speech, where he described a coin with a 20% inflation tax as having “no cost” to users.
Yeah, I haven't really emphasized perpetual income to stakers as a selling point in years. I actually favor rewards being as low as possible while still being high enough for security.
25/ In his response to my tweet, Vitalik adopted my format to “play the same game” in criticizing Bitcoin. My criticisms weren't addressed, and his response was riddled with errors. Yet his followers gave it +1,000 upvotes!
Vitalik Non-giver of Ether @VitalikButerin: - What works today (L1) is just a phase, ideal and unproven future (usable L2) is to come - Utopian concept of progress: we're already so confident we're finished we ain't needin no hard forks…
Ok, let's hear about what the errors are...
26/ Rebuttal: - BTC layer 1 is not “just a phase”, it always will be its definitive bedrock for transaction settlement. - Soft forking digital protocols has been the norm for over 3 decades—hard-forks are the deviation! - Satoshi never suggested hyperbitcoinization as a goal.
Sure, but (i) the use of layer 1 for consumer payments is definitely, in bitcoin ideology, "just a phase", (ii) I don't think you can make analogies between consensus protocols and other kinds of protocols, and between soft forking consensus protocols and protocol changes in other protocols, that easily, (iii) plenty of people do believe that hyperbitcoinization as a goal. Oh by the way: https://twitter.com/tuurdemeestestatus/545993119599460353
27/ This kind of sophistry is exhausting and completely counter-productive, but it can be very convincing for an uninformed retail public.
Ok, go on.
28/ Let me share a few more inconvenient truths.
...
29/ In order to “guarantee” the transition to PoS’ utopia of perpetual income (staking coins earns interest), a “difficulty bomb” was embedded in the protocol, which supposedly would force miners to accept the transition.
The intended goal of the difficulty bomb was to prevent the protocol from ossifying, by ensuring that it has to hard fork eventually to reset the difficulty bomb, at which point the status quo bias in favor of not changing other protocol rules at the same time would be weaker. Though forcing a switch to PoS was definitely a key goal.
30/ Of course, nothing came of this, because anything in the ETH protocol can be hard-forked away. Another broken promise.
Tuur Demeester @TuurDemeester: Looks like another Ethereum hard-fork is going to remove the "Ice Age" (difficulty increase meant to incentivize transition to PoS). https://www.cryptocompare.com/coins/guides/what-is-the-ethereum-ice-age/
How is that a broken promise? There was no social contract to only replace the difficulty-bombed protocol with a PoS chain.
31/ Another idea that was marketed heavily early on, was that with ETH you could program smart contract as easily as javascript applications.
Tuur Demeester @TuurDemeester: I forgot, but in 2014 Ethereum was quite literally described as "Javascript-on-the-blockchain"
Agree that was over-optimistic, though the part of the metaphor that's problematic is the "be done with complex apps in a couple hours" part, NOT the "general-purpose languages are great" part.
32/ This was criticized by P2P & OS developers as a reckless notion, given that every smart contracts is actually a “de novo cryptographic protocol”. In other words, it’s playing with fire. https://bitcointalk.org/index.php?topic=1427885.msg14601127#msg14601127
See above
33/ The modular approach to Bitcoin seems to be much better at compartmentalizing risk, and thus reducing attack surfaces. I’ve written about modular scaling here...
To be fair, risk is reduced because Bitcoin does less.
34/ Another huge issue that Ethereum has is with scaling. By putting “everything on the blockchain” (which stores everything forever) and dubbing it “the world computer”, you are going to end up with a very slow and clogged up system.
Christopher Allen @ChristopherA: AWS cost: $0.000000066 for calc, Ethereum: $26.55. This is about 400 million times as expensive. World computer? https://hackernoon.com/ether-purchase-power-df40a38c5a2f
We never advocated "putting everything on the blockchain". The phrase "world computer" was never meant to be interpreted as "everyone's personal desktop", but rather as a common platform specifically for the parts of applications that require consensus on shared state. As evidence of this, notice how Whisper and Swarm were part of the vision as complements to Ethereum right from the start.
35/ By now the Ethereum bloat is so bad that cheaply running an individual node is practically impossible for a lay person. ETH developers are also imploring people to not deploy more smart contract apps on its blockchain.
Tuur Demeester @TuurDemeester: But... deploying d-apps on the "Ethereum Virtual Machine" is exactly what everyone was encouraged to do for the past 4 years. Looks like on-chain scaling wasn't such a great idea after all.
Umm.... I just spun up a node from scratch last week. On a consumer laptop.
36/ As a result, and despite the claims that running a node in “warp” mode is easy and as good as a full node, Ethereum is becoming increasingly centralized.
@TuurDemeester Finally a media article touching on the elephant in the room: Ethereum has become highly centralized. #infura https://www.coindesk.com/the-race-is-on-to-replace-ethereums-most-centralized-layeamp?__twitter_impression=true
See above
37/ Another hollow claim: in 2016, Ethereum was promoted as being censorship resistant…
Tuur Demeester @TuurDemeester: Pre TheDAO #Ethereum presentation: "uncensorable, code is law, bottom up". http://ow.ly/qW49302Pp92
Yes, the DAO fork did violate the notion of absolute immutability. However, the "forking the DAO will lead to doom and gloom" crowd was very wrong in one key way: it did NOT work as a precedent justifying all sorts of further state interventions. The community clearly drew a line in the sand by firmly rejecting EIP 867, and EIP 999 seems to now also be going nowhere. So it seems like there's some evidence that the social contract of "moderately but not infinitely strong immutability" actually can be stable.
38/ Yet later that year, after only 6% of ETH holders had cast a vote, ETH core devs decided to endorse a hard-fork that clawed back the funds from a smart contract that held 4.5% of all ETH in circulation. More here: ...
See above
39/ Other potential signs of centralization: Vitalik Buterin signing a deal with a Russian government institution, and ETH core developers experimenting with semi-closed meetings: https://twitter.com/coindesk/status/902892844955860993 …,
Hudson Jameson @hudsonjameson: The "semi-closed" Ethereum 1.x meeting from last Friday was an experiment. The All Core Dev meeting this Friday will be recorded as usual.
Suppose I were to tomorrow sign up to work directly for Kim Jong Un. What concretely would happen to the Ethereum protocol? I suspect very little; I am mostly involved in the Serenity work, and the other researchers have proven very capable of both pushing the spec forward even without me and catching any mistakes with my work. So I don't think any argument involving me applies. And we ended up deciding not to do more semi-closed meetings.
40/ Another red flag to me is the apparent lack of relevant expertise in the ETH development community. (Check the responses…)
Tuur Demeester @TuurDemeester: Often heard: "but Ethereum also has world class engineers working on the protocol". Please name names and relevant pedigree so I can follow and learn. https://twitter.com/TuurDemeestestatus/963029019447955461
I personally am confident in the talents of our core researchers, and our community of academic partners. Most recently the latter group includes people from Starkware, Stanford CBR, IC3, and other groups.
41/ For a while, Microsoft veteran Lucius Meredith was mentioned as playing an important role in ETH scaling, but now he is likely distracted by the failure of his ETH scaling company RChain. https://blog.ethereum.org/2015/12/24/understanding-serenity-part-i-abstraction/
I have no idea who described Lucius Meredith's work as being important for the Serenity roadmap.... oh and by the way, RChain is NOT an "Ethereum scaling company"
42/ Perhaps the recently added Gandalf of Ethereum, with his “Fellowship of Ethereum Magicians” [sic] can save the day, but imo that seems unlikely...
Honestly, I don't see why Ethereum Gandalf needs to save the day, because I don't see what is in danger and needs to be saved...
43/ This is becoming a long tweetstorm, so let’s wrap up with a few closing comments.
Yay!
44/ Do I have a conflict of interest? ETH is a publicly available asset with no real barriers to entry, so I could easily get a stake. Also, having met Vitalik & other ETH founders several times in 2013-’14, it would have been doable for me to become part of the in-crowd.
Agree there. And BTW I generally think financial conflicts of interest are somewhat overrated; social conflicts/tribal biases are the bigger problem much of the time. Though those two kinds of misalignments do frequently overlap and reinforce each other so they're difficult to fully disentangle.
45/ Actually, I was initially excited about Ethereum’s smart contract work - this was before one of its many pivots.
Tuur Demeester @TuurDemeester: Ethereum is probably the first programming language I will teach myself - who wouldn't want the ability to program smart BTC contracts?
Ethereum was never about "smart BTC contracts"..... even "Ethereum as a Mastercoin-style meta-protocol" was intended to be built on top of Primecoin.
46/ Also, I have done my share of soul searching about whether I could be suffering from survivor’s bias.
@TuurDemeester I just published “I’m not worried about Bitcoin Unlimited, but I am losing sleep over Ethereum” https://medium.com/p/im-not-worried-about-bitcoin-unlimited-but-i-am-losing-sleep-over-ethereum-b5251c54e66d
Ok, good.
47/ Here’s why Ethereum is dubious to me: rather than creating an open source project & testnet to work on these interesting computer science problems, its founders instead did a securities offering, involving many thousands of clueless retail investors.
What do you mean "instead of"? We did create an open source project and testnet! Whether or not ETH is a security is a legal question; seems like SEC people agree it's not: https://www.cnbc.com/2018/06/14/bitcoin-and-ethereum-are-not-securities-but-some-cryptocurrencies-may-be-sec-official-says.html
48/ Investing in the Ethereum ICO was akin to buying shares in a startup that had “invent time travel” as part of its business plan. Imo it was a reckless security offering, and it set the tone for the terrible capital misallocation of the 2017 ICO boom.
Nothing in the ethereum roadmap requires time-travel-like technical advancements or anything remotely close to that. Proof: we basically have all the fundamental technical advancements we need at this point.
49/ In my view, Ethereum is the Yahoo of our day - an unscalable “blue chip” cryptocurrency:
Tuur Demeester @TuurDemeester: 1/ The DotCom bubble shows that the market isn't very good at valuing early stage technology. I'll use Google vs. Yahoo to illustrate.
Got it.
50/ I’ll close with a few words from Gregory Maxwell from 2016,: https://bitcointalk.org/index.php?topic=1427885.msg14601127#msg14601127
See my rebuttal to Greg from 2 years ago: https://www.reddit.com/ethereum/comments/4g1bh6/greg_maxwells_critique_of_ethereum_blockchains/
submitted by shouldbdan to ethtrader [link] [comments]

Daily analysis of cryptocurrencies 2019–11–18(Market index 38 — Fear state)

Daily analysis of cryptocurrencies 2019–11–18(Market index 38 — Fear state)

https://preview.redd.it/z988snbubgz31.jpg?width=658&format=pjpg&auto=webp&s=8ff1c77605423352395c4ca6bda5e5d7ac800813

Thailand Ministry Of Finance To Launch Blockchain-Based Visitor VAT Refund ServiceAccording to the Bangkok Post, the Thai Ministry of Finance plans to introduce a blockchain-based value-added tax (VAT) for foreign tourists from the end of November. Thai Financial Minister Uttama Savanayana said that blockchain-based technology will speed up the refund process for visitors because once the store enters information into the system, the purchase details will be shared with the tax department and customs department based on the blockchain.
German And South African Regulators Issue Fraud Warnings On Karatbars InternationalIn Germany, according to a recent press release by BaFin, the Federal Financial Supervisory Authority of Germany, a cease and desist order has been issued against Karatbit. The order is to stop the company from its unauthorized electronic money business in Germany.As for South Africa, the Financial Sector Conduct Authority issued its own press release warning the public to not deal with Karatbars International, as it is not authorized in terms of the Financial Advisory and Intermediary Services Act, to render any financial advice and intermediary services. The press release continues that the authority was informed that the company has been offering investments to customers through WhatsApp, a messaging platform.
China’s Army Considering A Blockchain Rewards System, ReportChina’s military could implement a blockchain rewards system to manage personnel data and incentivize its workforce, the Global Times reported on Nov. 18. Citing a People’s Liberation Army (PLA) Daily report, the Global Times underscores that the blockchain system would likely not involve financial incentives, but would be used as an innovation strategy for the military’s management.
Yahoo And LINE Announce Basic Agreement On Business Integration; Both Of Them Have Crypto ExchangesYahoo parent company Z Holdings (ZHD) and LINE formally announced that they had a basic agreement on business integration. On Nov 13, it was reported that the companies were approaching integration in the media reports. If Yahoo, which has the cryptocurrency exchange TAOTAO, and LINE, which also operates the cryptocurrency exchange BITMAX, will be integrated, it will have a major impact on the cryptocurrency industry.
https://preview.redd.it/ruwrql7cbgz31.png?width=504&format=png&auto=webp&s=0eba3291ecd7ffbbb06946afa8f1c6695c2a7e99

BTC — BTC fell briefly yesterday, rebounding after falling to $8368 at the lowest level and falling after hitting $8620 at the highest level.In terms of capital flow, the net inflow in 24 hours was 3 billion yuan, a significant increase over the previous day.On the 4-hour K-line, the slope of the downward trend rate is slowing down, the trading volume continues to shrink, and the volatility has also dropped to a new low in recent years.At this stage, the disk support and pressure are weak, only part of the energy is needed, and it is easy to pull up. It is not difficult to break through the pressure of 8600 and 8800 dollars, and 9000 dollars is the strong pressure level.But it doesn’t make much sense to pull it up. The market information hasn’t been restored.The overall trend is roughly between $8400 and $8600.In terms of operation, the spot continues to hold, while the futures are not recommended for operation.
Review previous articles: https://medium.com/@to.liuwen

Encrypted project calendar(November 18, 2019)

Maker (MKR): 18 November 2019 MCD Launch “BIG changes to terminology are coming with the launch of MCD on Nov. 18th Say hello to Vaults, Dai, and Sai.”Vexanium (VEX): 18 November 2019 Nodes Blockchain Summit Vexanium will collaborate with Nodes Community to hold a blockchain conference called the Nodes Blockchain Summit.OKB (OKB): 18 November 2019 Utrecht Workshop “EVENT: We’re going back to basics with #101 workshops on #CryptoTrading in Utrecht & AmsterdamSantiment Network Token (SAN): 18 November 2019 Reddit AMA “…@Santimentfeed will be conducting its first Reddit AMA on the@EthfinanceRsubreddit on Monday, November 18, 2019 from 12pm to 3pm EST”.Decentralized Currency Assets (DCA): 18 November 2019 Added to Echoestrader “Decentralize Currency Assets(DCA) support’s the first crypto algorithm exchange goes live on november 18th 2019.”Aeternity (AE): and 5 others 18 November 2019 [TWITTERPOST] Shift Money 2019 conference from Nov 18–19 in Croatia.Maker (MKR): 18 November 2019 MCD Launch “BIG changes to terminology are coming with the launch of MCD on Nov. 18th Say hello to Vaults, Dai, and Sai.”Pundi X (NPXS): 18 November 2019 Binance Italian AMA “On November 18 at 3:00 pm CET, @binance Italian group will host AMA series with @peko0413 !”Crypto.com Coin (CRO): 18 November 2019 Exchange Closed Beta “Closed Beta starts the week of 18 Nov.”

Encrypted project calendar(November 19, 2019)

Lisk (LSK): 19 November 2019 Lisk.js “We are excited to announce liskjs2019 will take place on November 19th. This all day blockchain event will include…”Aion (AION): 19 November 2019 Hard Fork “Leading up to the hard fork on November 19th-20th, 2019 the Unity — Aion Kernel will be upgraded by node operators.”Enigma (ENG): 19 November 2019 Open Community Call The first Enigma Open Community Call is Tuesday, Nov 19th, 11AM ET! important updates on our protocol, the Genesis Game, and our road ahead.Lisk (LSK): 19 November 2019 Berlin Meetup “Ahead of LiskJS2019, our partners Berlin Valley are hosting a startup industry networking event, #DigitalTalents, tomorrow. “BitMax Token (BTMX): 19 November 2019 BitMax Delisting BitMax removes BTMXP/BTC, ETH/USDC, ETH/PAX, BAT/ETH, ZEC/ETH, DASH/ETH, LAMB/ETH, ZIL/ETH, COVA/ETH, ETC/ETH, FET/ETH, LAMBS/ETH, XTZ/ETH.

Encrypted project calendar(November 20, 2019)

OKB (OKB): 20 November 2019 OKEx Cryptour Odessa Ukr “Join us in Odessa as we journey through Ukraine for our OKEx Cryptour!DAPS Token (DAPS): 20 November 2019 Partnership with SWFT “Everyone will have $DAPS mobile wallets, atomic swaps and much more starting on the 20th of November!”Aragon (ANT): 20 November 2019 Draft Proposal Deadline “Draft proposals for Aragon Network Vote #5 are due in one week, on November 20 at 16:00 UTC…”IOTA (MIOTA): 20 November 2019 Smart City Expo Wilfried Pimenta, our Director of Business Development, will be among the speakers at the AI & Blockchain Summit in the Smart City Expo Worl…Bitcoin Fast (BTCF): 20 November 2019 BTCF Snapshot Snapshot taken of BTCF holders at 8:00 am (GMT-6).Credits (CS): 20 November 2019 AMA AMA with Credits team at 15:00 UTC.

Encrypted project calendar(November 21, 2019)

Cardano (ADA): and 2 others 21 November 2019 Meetup Netherlands (AMS) “This meetup is all about how to decentralize a blockchain, the problems and differences between Proof-of-Work and Proof-of-Stake…”Cappasity (CAPP): 21 November 2019 Virtuality Paris 2019 “Cappasity to demonstrate its solution for the interactive shopping experience at Virtuality Paris 2019.”Horizen (ZEN): 21 November 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.OKB (OKB): 21 November 2019 OKEx Talks — Johannesburg “Join us the largest city of South Africa — Johannesburg where we will host our OKEx Talks on the 21st Nov.”IOST (IOST): 22 November 2019 Singapore Workshop Join the Institute of Blockchain for their 2nd IOST technical workshop in Singapore on 22 Nov 2019. The workshop includes IOST’s key tech.OKB (OKB): 22 November 2019 St. Petersberg Talks “Join us in St. Petersberg on 22 Nov as we answer your questions on Crypto Security. “NEM (XEM): 21 November 2019 SME Thought Leadership “SME Thought Leadership Series Forum #2” in Selangor, Malaysia from 8:30 AM — 2:30 PM.Stellar (XLM): 21 November 2019 NYC Meetup “Stellar Blockchain Meetup ft. FIC Network and Sam Conner’s Meridian Recap” in NYC from 6–8 PM.Waves (WAVES): 21 November 2019 Edinburgh Workshop “Next Thursday, we’re running a practical workshop on building DeFi products & designing Smart Contracts in your city!”

Encrypted project calendar(November 22, 2019)

IOST (IOST): 22 November 2019 Singapore Workshop Join the Institute of Blockchain for their 2nd IOST technical workshop in Singapore on 22 Nov 2019. The workshop includes IOST’s key techOKB (OKB): 22 November 2019 St. Petersberg Talks “Join us in St. Petersberg on 22 Nov as we answer your questions on Crypto Security. “Zenon (ZNN): 22 November 2019 Awareness Fund Payout “Distribution of the fund takes place every Friday until Pillars Lock-in Phase is completed.”

Encrypted project calendar(November 23, 2019)

Californium (CF) and 1 other: 23 November 2019 Greece Meetup “On November 23, the Greek #Cryptocurrency Community Meetup will take place in Greece!”

Encrypted project calendar(November 25, 2019)

0x (ZRX): 25 November 2019 0x V3 Proposal Live “The 0x v3 proposal was approved and will go live on Ethereum mainnet starting November 25th!”Dynamic Trading Rights (DTR): 25 November 2019 Chain Migration “On November 25 at 23:00 CET, TokensNet will make a migration of the $ELI token from Ethereum blockchain to Bitcoin Cash blockchain…”

Encrypted project calendar(November 27, 2019)

OKB (OKB): 27 November 2019 OKEx Cryptour Vinnytsia “Join us in Vinnytsia as we journey through Ukraine for our OKEx Cryptour!”Fetch.ai (FET): 27 November 2019 London Meetup “Join us on 27 November @primalbasehq to hear an exciting progress report as we prepare for the launch of our #mainnet”

Encrypted project calendar(November 28, 2019)

Horizen (ZEN): 28 November 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.

Encrypted project calendar(November 29, 2019)

Zenon (ZNN): 29 November 2019 Awareness Fund Payout “Distribution of the fund takes place every Friday until Pillars Lock-in Phase is completed.”

Encrypted project calendar(November 30, 2019)

Ethos (ETHOS): 30 November 2019 (or earlier) Rebranding “In November, we unveil the broker token, a dynamic utility token to power our commission-free crypto trading and broker platform, Voyager.”Digitex Futures (DGTX): 30 November 2019 Public Testnet Launch “…We can expect to see the world’s first zero-commission futures trading platform live on the Ethereum public testnet from 30th November.”Monero (XMR): 30 November 2019 Protocol Upgrade “Preliminary information thread regarding the scheduled protocol upgrade of November 30.”Chiliz (CHZ): 30 November 2019 (or earlier) Fiat to CHZ Exchanges “We will add another two fiat to $CHZ exchanges in November…”Skrumble Network (SKM): 30 November 2019 (or earlier) P2P & Group Calling “P2P & Group Video Calling,” during November 2019.Aergo (AERGO): 30 November 2019 (or earlier) Mainnet 2.0 Upgrade Mainnet 2.0 Protocol update by end of November.Akropolis (AKRO): 30 November 2019 (or earlier) Beta Release “All functionality has been deployed to mainnet.”Nash Exchange (NEX): 30 November 2019 (or earlier) Mobile Strategy Phase 2 “Phase 2 of our mobile strategy will be live soon with our wallet and portfolio app hitting stores in November!”Akropolis (AKRO): 30 November 2019 (or earlier) Beta Release “All functionality has been deployed to mainnet.”Pakcoin (PAK): 30 November 2019 Staking Mobile App Android app for staklet is going to be launched on November 30th.

Encrypted project calendar(December 1, 2019)

Auxilium (AUX): 01 December 2019 AUX Interest Distribution Monthly interest distribution by Auxilium Interest Distribution Platform for coinholders. Also supports charity.I/O Coin (IOC): 01 December 2019 Pos Reward Halving IOC block reward halving is happening on December 1st 2019.

Telegram: https://t.me/Lay126
Twitter:https://twitter.com/mianhuai8
Facebook:https://www.facebook.com/profile.php?id=100022246432745
Reddi:https://www.reddit.com/useliuidaxmn
LinkedIn:https://www.linkedin.com/in/liu-wei-294a12176/
submitted by liuidaxmn to u/liuidaxmn [link] [comments]

Try Brave, browser which pays you

Try Brave, browser which pays you

Brave Browser Review – What Makes Brave Browser Special?

Brave Browser is the latest unique browser to join the ever-expanding market. The open source and free browser from Brave Software Inc. has positioned itself as the browser that loads faster with better privacy protection. The firm was co-founded by Brendan Eich, the creator of JavaScript and a co-founder of Mozilla. Brave keeps data safe and provides users with the power to save or delete it. It features a built-in ad tracker and blocker. Unlike most common browsers, Brave also helps to fight phishing and malware. Below, we’ve analyzed what are the things that makes Brave browser special – and if you wanna give it a try, you can easily download it from here.

Understanding the Brave Browser Model

Brave is a more-or-less standard browser that lets users browse, run web apps and display online content. It is free to download and use. Furthermore, Brave remembers site authentication information. When Brave joined the market, it caused a buzz due to its unusual business model. The default ad blocking was viewed by many as a threat to content creators. It changed the traditional way of digital advert delivery. Brave also managed to realize the dream of getting paid to browse.

The Brave Browser User Interface

https://preview.redd.it/f6ciyn35frh31.png?width=1034&format=png&auto=webp&s=03a1c5c7975830b14fe28bb613388d6038e56378
Brave offers a clean and crisp interface that is intuitive to use. It has all the elements you would expect in your ideal browser. Furthermore, Brave’s individual tabs support icons for quick identification, and hovering the cursor over a tab offers details on the page in that tab without having to click on the tab and activate it.
The browser also displays statistics about the content the browser has blocked. These statistics are very useful. Furthermore, it displays photos, the current time and shortcuts to your favorite sites. Like other websites, one would expect these features to have an effect on speed. However, this is not the case. Brave is very easy to use, with a streamlined design and the useful option to preview the content of tabs

Brave Rewards System For Content Creators and Users


https://preview.redd.it/gle1dcj9frh31.jpg?width=810&format=pjpg&auto=webp&s=18d3567249e761af2be4645a0ded76664da1e0f9
Content creators depend on ads to sustain their operations. However, the ads are not displayed on Brave browser. So how does Brave browser support online publishers?
The browser has a unique approach when it comes to compensating of creators. Rewarding is done through the Brave Ads network and user donations. Publishers are required to register with the network before qualifying for revenue. Registered publishers earn 55% of the replaced ad revenue.
Brave comes with an inbuilt BAT wallet. This wallet enables users to support their favorite websites. Users can load the wallet and allocate a specified amount of BAT to their preferred sites. The wallet can be funded through Bitcoin, Litecoin, Ethereum, and BAT token. Credit card holders use payment processor Uphold. You can set a monthly budget of BAT to be automatically distributed to sites you frequently visit. You also have the power to set the percentage to be contributed. Brave users are not able to view any ads but still, support their favorite website.
For users, you can earn in BAT by browsing Brave enabled sites. If users consent to replace usual adverts, with anonymous adverts from Brave, they get paid in Basic Attention Token (BAT). A single user gets 15% of the revenue. The revenue depends on the time you spend on Brave Browser.
However, you have to enable Brave ads because the browser blocks all ads by default. Before receiving any payments, the BAT token wallet needs to be activated first.
For users who don’t want to support any website, they neither earn nor contribute. They enjoy fast browsing.

Why Brave Settled For BAT

https://preview.redd.it/kv0t9qqcfrh31.png?width=1600&format=png&auto=webp&s=b216b6a7ec9a4a6ed4441040db84027450f367f1
Current delivery of digital ads relies on tracking browsing history, cookies, search question, and third parties. Brave does not support these tactics. With the use of BAT, the role of intermediaries and tracking is eliminated from the inventory catalog of current ads.
Integration of BAT into the browser involves implementing BAT Ads system. The system displays ads to users based on locally stored information. With the data, ads targeting is done locally.
This Brave Browser model promotes privacy. The browsing history is kept private, as all data required for ad-matching never leaves your system.
We also have quality ads matching. Wrong ad matching is one of the reasons why some users hate ads. With BAT model, a user can select the ads he or she wants to see. Brave’s BAT platform shields the anonymity of users while assuring the authenticity of their viewing.
It is, therefore, safe to say that BAT represents a fundamental rethinking of the way digital ads are delivered. By the time of writing this article, BAT had a market capitalization of $244,798,134. Compared to the dollar, BAT is valued at $0.196773.

How Is Brave Browser Funded?

Brave Software’s financial life is shredded in privacy. However, the company managed to raise $35 million in just seconds by selling the BAT cryptocurrency to investors.
Brave has other revenue generation means as it kept a third of the 1.5 billion BATs and as starter seed for browser users’ wallets (300 million BATs). At the current BAT value, Brave’s 200 million equaled just over $70 million. The money will be channeled towards establishing a Blockchain-based digital advertising system.

Benefits of Brave Browser

The brave browser is gaining popularity. It has been viewed as the next Google chrome. Brave appears to be the solution to challenges that come with regular browsers. Here are some of the unique benefits of using Brave. We’ve also made a Brave vs Google Chrome comparison – you can check that out too and see our unbiased opinion about Brave and it evolution compared to Google’s giant.

Default Ad Blocker

https://preview.redd.it/9u2bc2qhfrh31.png?width=1402&format=png&auto=webp&s=7f85f0c79ec03d51585da08f36d0a63926fec222
Brave blocks ads automatically. Users are no longer required to search the web for a perfect ad blocker. The auto-blocking protects your device from malware and extensive tracking by advertisers. Brave is also working on a plan to replace ads that appear harmful.
Tracking ads by Brave is accurate. Users are served with the right ads because Brave does the tracking using local data. If an ad is irrelevant to the user, it is pulled down. You get the appropriate ads based on this model. A user’s data stays within the device since we have no third parties involved.
While Brave blocks third-party cookies, the first party cookies are not blocked by default. Users have the option to prevent or enable cookies on a given website.
However, Brave does not block ads displayed in search results. You will be able to see AdWords advertisements within Google’s results. This is because Ad blocking extensions don’t stymie search ads either.

Improved Privacy During Browsing

Blocking of malicious ads automatically allows safe browsing. Brave does not have access to identifiable user data. The anonymity aggregated ad campaign related data is used for accounting. However, this data cannot be traced back to a user’s device.
Brave also comes with additional tactics to boost privacy while browsing. The incorporation of HTTPS everywhere allows usage of web encryption whenever available.
The fingerprinting feature bars third parties from tracking your activity. This feature can be activated in the settings tab.

Brave is Faster

Brave’s load speeds emerge on top. Fast browsing is supported by Brave’s lack of thirds party ads. You, therefore, have less content to download before accessing your favorite website. However, Brave’s rendering speeds come a bit after Google Chrome and Mozilla.

You Get Paid To Browser – If You Want

The concept of getting paid for browsing has been a dream. However, Brave browser has changed the game. All you have to do is to enable Brave ads. View the ads and get 15% of the revenue. For content creators, you are supported by users who love your content. All payments are in the form of BAT tokens.

How Does Brave Browser Work?

The brave browser is available on iOS, Android, macOS, Windows, and Linux platforms. Users on these platforms can browse securely, and fast. It accomplishes this without using a lot of your computer’s memory. Unlike most common browsers, Brave does not use much RAM. Brave uses at least 170MB of your RAM. It is important to note that Brave is a chromium based browser. Browsers built on this platform are known to consume a lot of memory, but Brave stands out.

Brave’s Use of Chrome extensions

Brave is set up on the Chromium platform. Chromium is an open-source system that also powers popular browsers like Google Chrome and soon Microsoft Edge. Based on the Chromium capability, you can almost use all Chrome extensions on Brave. The extensions on Chrome can be added to Brave through the Chrome Web Store. Make sure you read messages accompanying extensions carefully. It is up to you to make responsible decisions when installing 3rd party extensions with respect to your data. You can enable, disable, remove and view additional details/options for your installed extensions in the extensions window.
Pros
  • Interface. Brave offers a simple, clean and intuitive interface.
  • Speed. Based on the default ad blocker, Brave’s speed is fast.
  • Ad and tracker blocking. Brave’s ad-blocking is a new one in the industry.
  • Privacy and security. Along with its blocking features, Brave’s anti-tracking tools are among the best.
  • Allows Chrome extensions
Cons
  • Brave Rewards. Brave’s opt-in ad display and compensation program not clear to many people.

Who is Behind Brave?

The Brave browser was co-founded by Brendan Eich. He is the creator of the Javascript programming language. Brendan is also the co-founder of Mozilla, the organization behind the open-source web browser Firefox. Brandan works along with other notable names in the tech industry. We have Brian Bondy who co-founded Brave also. Yan Zhu is the Security & Privacy Engineering personnel and she formally worked with Yahoo. Scott Locklin is the current BAT Smart Contracts and Economic manager. He is also the co-founder of Kerf Software. Here are other team members behind the Brave project. The Brave team also lined up a team of advisor led by Ankur Nandwani who previously worked with leading exchange Coinbase.

Brave Users

Since 2018, Brave browser users have grown by over 450%. Elsewhere BAT’s active users have grown from 1 million per month in January 2018 to a total of 5.5 million active users in January 2019. As seen above, Brave works along with the Basic Attention Token (BAT). In March 2019, Brave reached over 20 million downloads on the Google Play store for Android devices.
submitted by aztestnet to u/aztestnet [link] [comments]

Bonehead's Ethereum News to Come (Updated)

NEWs To Come - last updated - April 5th, 2016
Ethereum’s ecosystem is growing so quickly, very exciting news has a habit of coming out of nowhere. That said, there are more than a few things to have on our radar. Thanks to help from this community, here’s a current list. As always, what am I missing?
Ethereum Blockchain Development
Other news we know will happen
Coin relays and interoperability
One very powerful aspect of Ethereum’s blockchain is it allows both formal relays between blockchains as well as general interoperability between chains. Relays allow Ethereum to empower other blockchains, basically letting these more classic chains (like Bitcoin and Dogecoin) use Ethereum as a service for smart contracts. This “bonded sidechain” is more powerful/flexible path to using smart contracts than building non-currency agnostic chains. Similarly, interoperability is a classic concept in software development with over 30 years of history. Ethereum’s Virtual Machine (EVM) greatly facilitates multi-chain interoperability – which could allow private chains to communicate with Ethereum’s public chain. Basically, Ethereum facilitates “chaining all the things”. In other words, even future private chains could interoperate with the Ethereum public blockchain to have a gateway between their secured private chain and the more global public chain. Private chain development is a GOOD thing under this model, even if that private chain is not an Ethereum fork.
Current examples
Public Dapps and/or ventures to keep an eye on
Ethereum ecosystem is growing in unbelievable way with well over a 100 DApps. Below are some DApps and ventures that have been commonly discussed and seem to be generating news sooner than later.
Many of Ethereum's 100+ DApps will fail, but it only takes one to succeed to bring Ethereum to the mainstream. That said, sadly, there will also be scams. We should never forget Bitcoin's NeoBee or any of the MANY failed exchanges. As a community, we'll want to keep a close eye out in more ways than one. Be enthusiastic but critical - with transparency being absolutely key to trust.
Developer tools to keep an eye on
Ether ATMs
Embedded Devices
Potential surprises that are not really surprises
Parting statement
Ethereum has essentially a monopoly on smart contracts, and from the list above, it should be clear that it has built a remarkable network effect around this ecosystem. It is a disruptive technology, that fosters synergies, and when put in a greater perspective, it’s market cap remains quite tiny, especially when you think of the relative size of the growing community.
Please let me know if there is something you'd like to see.
Concerns
You can support my ETH sleuthing addiction:
0x082b594a0fbb4faa007e72f3a31d56764ac4de66
submitted by nbr1bonehead to ethtrader [link] [comments]

ERC. money are able to bridge businesses with crypto owners

2090 cryptocurrencies are listed on Coinmarketcap as of writing. According to the Cambridge study conducted with Visa last sprint, 2.9 to 5.8 million active cryptocurrency wallet holders. Steve Wozniak is co-founding a crypto-asset investment firm. Alibaba and IBM have the most blockchain patents in the world. Binance made more in profit in Q2 2018 than Deutsche Bank. Even Katy Perry painted her nails in Monero and Light coin to come at you like a Dark Horse.
Cryptocurrencies is the safest form of a digital currency powered by an immutable, distributed, open-source technology—Blockchain. But then why haven’t the Global Financial system switched to crypto yet? At least the e-commerce? The answer is that it takes time for innovation to go through the adaptation period, and it takes innovation.
Business owners need to be ready to accept. But they don’t want to learn about all the latest forks and airdrops to process transactions. That’s why they choose Visa today. Because despite the fact that every transaction cost them from 3-5%, they work auto-magically. Crypto payments are safe but an average Bitcoin transaction speed can take up to 8 minutes. Some Ethereum transactions may take hours if the sender didn’t provide a lucrative amount of gas to miners. Transaction commissions keep growing and mining pools that entered the game at the early stages control the future of communities. Yes, cryptos are innovative but unless they solve the real world problems they will continue to be the currency of computer enthusiasts on Bitcoin Talk, drug-dealers, and traders.
ECR.money comes to help real business owners embrace the future of financial communications. It was launched on January 1, 2018 to change rules of the game in the world of encrypted digital payments.
“We are entrepreneurs, too. We understand the Status Quo but we need a less painful system for secure international transactions. Why launch another pointless ICO or TGE, when we can just take the real businesses and help them? Why they should pay monstrous fees for fast and secure transactions if the technology is here and ready to use? This whole token offering gold rush seems over-exaggerated to me.” – Dmitry Vasadin, Founder.
ECR team has created a network with a 100 transactions per second bandwidth. They plan to grow the speed responding to community growth. Each transaction is free. Each is protected with a Skrypt encryption protocol. ECR.nodes could be launched on computers with just 1Ghz of processing speed and 2Gb of RAM memory. Node owners only have to sign the transactions to secure the trust in the network’s distribution. Which means that the network can scale fast. That many ECR coins were pre-mined. No more coins will ever be emitted So there is no competition for block rewards. ECR.money propose to business owners a practical tool to transact on a daily basis and open their doors to an audience of millions active crypto users.
You can create your first ECR crypto wallet at www.ecr.money. Learn more about how to set up your ECR wallet in this guide or check out ECR Whitepaper.
submitted by ECurrency_ to u/ECurrency_ [link] [comments]

Top 50 Cryptocurrencies

Top 50 Cryptocurrencies
I thought this might be of real help for the ones that are just joining crypto and still want to read.
Let’s face it: there are a lot of cryptocurrencies out there, with new ones coming out almost daily and old ones disappearing seemingly just as fast as they appeared. It’s easy to get overwhelmed.
If you are new to cryptocurrencies, this is an excellent starting point to learn about each of the top 50 cryptocurrencies (by market cap). Even if you’re a crypto veteran, this is a great resource to reference if you ever get any of the top 50 confused, or if you want to read more about a new coin which has joined the ranks.
Our hope is to point you in the right direction, spur your interest to do more research, and steer you away from the potential scams out there (And yes, there are potential scam coins in the top 50!)
Here at Invest In Blockchain, we are obsessed with researching the internet for all things crypto. The information found in this post is the result of hundreds of hours of painstaking research by me and other writers on our team.
Note that this list is constantly changing and I will do my best to keep it up-to-date, but the top 50 moves almost daily! Please refer to coinmarketcap.com for the latest information on the top 50 cryptocurrencies and their prices.
Let’s get started!
(Information accurate as of May 23, 2018)

#1 – Bitcoin (BTC)

📷
The king of the crypto world, Bitcoin is now a household name; to many, it is synonymous with “cryptocurrency”. Its purpose is to provide a peer-to-peer electronic version of cash to allow payments to be sent online without the need for a third party (such as Mastercard).
The rapid rise in Bitcoin’s price has brought about an explosion of new Bitcoin investors. With the huge increase in interest has come a rise in merchants accepting Bitcoin as a legitimate form of payment. Bitcoin is fast moving towards its goal of becoming a currency accepted worldwide.
Bitcoin’s development is led by Bitcoin Core developer Wladimir J. van der Laan, who took over the role on April 8, 2014. Bitcoin’s changes are decided democratically by the community.
For an in-depth look at Bitcoin, including an explanation of Bitcoin mining, Bitcoin’s history, an analysis of Bitcoins’ value and a description on how bitcoin actually works, see our comprehensive guide “What is Bitcoin? Everything You Need to Know About Bitcoin, Explained“.
For a more detailed description of Bitcoin’s economics, what makes money and how Bitcoin works in the economy as a whole see: “Bitcoin Explained” and “Bitcoin is a Deflationary Currency”.

#2 – Ethereum (ETH)

📷
Ethereum is the revolutionary platform which brought the concept of “smart contracts” to the blockchain. First released to the world in July 2015 by then 21-year-old Vitalik Buterin, Ethereum has quickly risen from obscurity to cryptocurrency celebrity status.
Buterin has a full team of developers working behind him to further develop the Ethereum platform. For more background information on Buterin, read our article, “Vitalik Buterin: The Face of Blockchain”.
Ethereum has the ability to process transactions quickly and cheaply over the blockchain similar to Bitcoin, but also has the ability to run smart contracts. For future reading on smart contracts, see “What’s the Difference Between Bitcoin and Ethereum”; but for now, think automated processes which can do just about anything.
For further reading on Ethereum, including an analysis of the platform’s strengths and future prospects, read “What is Ethereum, Everything You Need to Know Explained“.

#3 – Ripple (XRP)

📷
Ripple aims to improve the speed of financial transactions, specifically international banking transactions.
Anyone who has ever sent money internationally knows that today it currently takes anywhere from 3-5 business days for a transaction to clear. It is faster to withdraw money, get on a plane, and fly it to your destination than it is to send it electronically! Not to mention you will be paying exorbitant transaction fees — usually somewhere around 6% but it can vary depending on the financial institution.
Ripple’s goal is to make these transactions fast (it only takes around 4 seconds for a transaction to clear) and cheap.
The Ripple team currently comprises over 150 people, making it one of the biggest in the cryptocurrency world. They are led by CEO Brad Garlinghouse, who has an impressive resume which includes high positions in other organizations such as Yahoo and Hightail.
Check out “What is Ripple” for more information, including a closer look at what they do, controversies and future prospects.

#4 – Bitcoin Cash (BCH)

📷
Bitcoin Cash was created on August 1, 2017 after a “hard fork” of the Bitcoin blockchain. For years, a debate has been raging in the Bitcoin community on whether to increase the block size in the hope of alleviating some of the network bottleneck which has plagued Bitcoin due to its increased popularity.
Because no agreement could be reached, the original Bitcoin blockchain was forked, leaving the Bitcoin chain untouched and in effect creating a new blockchain which would allow developers to modify some of Bitcoin’s original programmed features.
Generally speaking, the argument for Bitcoin Cash is that by allowing the block size to increase, more transactions can be processed in the same amount of time. Those opposed to Bitcoin Cash argue that increasing the block size will increase the storage and bandwidth requirement, and in effect will price out normal users. This could lead to increased centralization, the exact thing Bitcoin set out to avoid.
Bitcoin Cash does not have one single development team like Bitcoin. There are now multiple independent teams of developers.
Read “What is Bitcoin Cash” for more information. You can also check out their reddit and official webpage.

#5 – EOS (EOS)

📷
Billed as a potential “Ethereum Killer”, EOS proposes improvements that can challenge Ethereum as the dominant smart contract platform. One main issue EOS looks to improve is the scalability problems which has plagued the Ethereum network during times of high transaction volume, specifically during popular ICOs.
A perhaps more profound difference EOS has, compared to Ethereum, is the way in which you use the EOS network. With Ethereum, every time you make modifications or interact with the network, you need to pay a fee. With EOS, the creator of the DAPP (decentralized app) can foot the bill, while the user pays nothing. And if you think about it, this makes sense. Would you want to have to pay every time you post something on social media? No, of course not!
In addition to this, EOS has a few other technical advantages over Ethereum such as delegated proof of stake and other protocol changes. Just know that EOS has some serious power under the hood to back up the claim of “Ethereum Killer”.
EOS was created by Dan Larrimer who is no stranger to blockchain or start ups. He has been the driving force behind multiple successful projects in the past such as BitShares, Graphene and Steem.
For more information on EOS such as how and where to buy EOS tokens, EOS’s vision and potential challenges, see “What is EOS”.

#6 – Litecoin (LTC)

📷
Similar to Bitcoin, Litecoin is a peer-to-peer transaction platform designed to be used as a digital currency. Due to some notable technical improvements, Litecoin is able to handle more transactions at lower costs. Litecoin has been designed to process the small transactions we make daily.
Litecoin is sometimes referred to “digital silver” while Bitcoin is known as “digital gold”. This is because traditionally silver was used for small daily transactions while gold was used as a store of wealth and was not used in everyday life.
The Litecoin blockchain is a fork from the Bitcoin chain. It was initially launched in 2011 when its founder, Charlie Lee, was still working for Google. Well-known as a cryptocurrency expert, Charlie Lee is backed by a strong development team who appear to be achieving what they set out to do. They have recently achieved a very notable accomplishment with the first successful atomic swap.
For an in-depth discussion on what Litecoin does, how it is different than Bitcoin and the team backing up the development, see “What is Litecoin”.

#7 – Cardano (ADA)

📷
Cardano is a smart contract-focused blockchain. It was originally released under the name Input Output Hong Kong by Charles Hoskinson and Jeremy Wood, a few of the early team members of Ethereum, and later rebranded into Cardano.
Cardano is trying to fix some of the largest problems the cryptocurrency world which have been causing ongoing issues for years such as scalability issues and democratized voting.
They have the potential to challenge Ethereum’s dominance in the smart contract world. Cardano is developing their own programing language similar to Ethereum; however, they are focusing more heavily on being interoperable between other cryptocurrencies.
While some cryptocurrencies are all bite but no bark, Cardano is quite the opposite. They are quietly focusing on a strong software which will be completely open-source.
Cardano’s team comprises some of the best minds in the industry, and they seek to create a strong foundation which others can build upon for years to come.
For up-to-date information on Cardano’s status see their Reddit page or official website. You can also read our article “What is Cardano” to learn more about them.

#8 – Stellar Lumens (XLM)

📷
In a nutshell, Stellar Lumens seeks to use blockchain to make very fast international payments with small fees. The network can handle thousands of transactions a second with only a 3-5 second confirmation time.
As you may know, Bitcoin can sometimes take 10-15 minutes for a transaction to confirm, can only handle a few transactions a second and, in turn, has very high transaction fees.
If this sounds a lot like Ripple, you’re right! Stellar Lumens was based off of the Ripple protocol) and is attempting to do similar things. Some of Stellar Lumens’ main uses will be for making small daily payments (micropayments), sending money internationally, and mobile payments.
Stellar Lumens is focusing on the developing world and, more specifically, the multi-billion dollar industry of migrant workers who send money back to their family in impoverished countries.
The Stellar Lumens team is led by Jed McCaleb, who has worked in numerous successful startups in the past such as eDonkey, Overnet, Ripple, and the infamous Mt. Gox.
For more information on Stellar Lumens, including the history and what sets Stellar Lumens apart, see “What are Stellar Lumens”. You can also learn about the differences between Stellar Lumens and Ripple.

#9 – TRON (TRX)

📷
As stated in TRON’s whitepaper, “TRON is an attempt to heal the internet”. The TRON founders believe that the internet has deviated from its original intention of allowing people to freely create content and post as they please; instead, the internet has been taken over by huge corporations like Amazon, Google, Alibaba and others.
TRON is attempting to take the internet back from these companies by constructing a free content entertainment system. This will enable users to freely store, publish and own data, giving them the power to decide where and how to share.
The project is led by founder Justin Sun, who has been listed on the Forbes 30 under 30 list twice (in 2015 and 2017). In addition, Sun is a protégé of Jack Ma, founder of Alibaba Group, China’s former Ripple representative and the founder of Peiwo APP.
Sun has assembled a strong team with heavy hitters including Binshen Tang (founder of Clash of King), Wei Dai (founder of ofo, the biggest shared bicycles provider in China), and Chaoyong Wang (founder of ChinaEquity Group). Sun has also secured the support of a few notable angel investors such as Xue Manzi.
For up-to-date information on Tron and further discussion of the technology and team, see “What is Tron” and their website.

#10 – IOTA (MIOTA)

📷
IOTA has seen many of the issues Bitcoin and Ethereum have with the POW (proof-of-work) and POI (proof-of-importance) models and looks to improve them with their revolutionary transaction validation network simply called “tangle”.
When issuing a transaction in IOTA, you validate 2 previous transactions. This means you no longer outsource validation to miners which requires wasteful amounts of computing power and usually a large stake of coins. These required resources are, in effect, centralizing the currencies which many believe were created to be decentralized in the first place.
With IOTA, the more active a ledger is, the more validation there is. In other words, the more people who use it, the faster it gets. You don’t have to subsidize miners, so there are no fees on transactions. That’s right: zero.
The IOTA team has been actively developing blockchain technology since 2011, and created the IOTA foundation and company in 2016. Since its emergence, the team has been continuously growing, attracting exceptional talent from around the world.
For more information on IOTA’s team and their revolutionary“tangle” technology, check out “What is IOTA”.

#11 – NEO (NEO)

📷
A leading platform for smart contracts and sometimes referred to as “China’s Ethereum”. NEO (formally Antshares) hopes to digitize many types of assets which were formerly kept in more traditional means, and therefore make it possible to use them in smart contracts.
To imagine a potential use case of NEO, think digitizing the title to a house into a smart asset, and then setting up that asset to automatically transfer to another person after payment for the house has been received. This would be, in effect, a simple smart contract.
NEO founder Da Hongfei is a leading figure in the cryptocurrency world and has worked on numerous blockchain projects in the past. The development team consists of 6 in-house investors and a large community of third-party developers.
For a complete overview of NEO, including the team, history and competitive analysis, check out “What is NEO”.

#12 – Dash (DASH)

📷
Dash (which comes from ‘digital cash’) aims to be the most user-friendly and scalable cryptocurrency in the world. It has the ability to send funds instantly confirmed by “double-send-proof” security with the added functionality of erasable transaction history and the ability to send transactions anonymously.
Like Bitcoin, Dash is meant to be used as a digital currency but has some added values such as much faster transaction times and lower fees. For a slightly higher fee, Dash has the added function of “instant send” which allows transactions to be confirmed almost instantly. This is one of the main selling points of Dash because many believe that this feature would allow it to be used in brick and mortar establishments.
The Dash development team consists of over 50 members and is led by former financial services professional Evan Duffield.
For the latest on Dash, see their official website and reddit page. You can also read “What is Dash” to learn more about the project.

#13 – Monero (XMR)

📷
Monero is a digital currency designed to be used as a completely anonymous payment system.
A common misconception with Bitcoin is that it is completely anonymous. In reality, all payments processed on the Bitcoin network are recorded on a public ledger (blockchain), so Bitcoin is actually only partially anonymous or “pseudonymous”.
This means that you can, in theory, trace back every transaction a coin has been involved with from its creation. Though users aren’t able to inherently link the public key on the blockchain with the private keys used to store the coins themselves, there will always exist a correlation between the two.
Monero has solved this problem by implementing cryptonic hashing of receiving addresses, therefore separating the coin from the address it is going to. This can be hugely valuable for anyone wishing to conceal their purchases.
The Monero development team consists of 7 core developers, only two of which are publicly known. There have been over 200 additional contributors to the project and software updates are implemented every six months or so.
To learn more about Monero including its competitors and challenges, read “What is Monero”. If you’re thinking about investing in Monero, check out our opinion piece “Should You Invest In Monero?“.

#14 – Tether (UDST)

📷
Tether is a cryptocurrency token issued on the Bitcoin blockchain. Each Tether coin is allegedly backed by one US Dollar. The goal is to facilitate transactions with a rate fixed to the USD.
Amongst other things, Tether looks to fix some of the legal issues which can arise when trading cryptocurrencies and it aims to protect people from market volatility.
Tether has faced controversy regarding their business model, and some consider it a scam. More info can be seen on reddit posts such as this.

#15 – NEM (XEM)

📷
NEM (New Economy Movement) is the world’s first proof-of-importance (POI) enterprise based on blockchain technology. With a focus on business use cases, the software was built from the ground up with adaptability in mind. NEM’s goal is for companies to use their “smart asset system” to implement customizable blockchains. A smart asset can be almost anything: a cryptocurrency token, a business’s stock or a company’s invoicing and records.
Some potential use cases for NEM’s technology include: voting, crowdfunding, stock ownership, keeping secure records, loyalty rewards point programs, mobile payments and escrow services. A list of NEM’s use cases can be found here.
The development of NEM is monitored by the Singapore-based NEM Foundation.
For more information on what NEM does and what sets NEM apart from its competitors, see “What is NEM”.

#16 – VeChain (VEN)

📷
As described in VeChain’s development plan, the organization’s purpose is to build “a trustfree and distributed business ecosystem based on the Blockchain technology self-circulated and expanding”.
They plan to do this by creating an efficient trustless business ecosystem to significantly reduce the wasteful information transfer systems of today.
Some of the areas and industries the VeChain platform is focusing on include eliminating counterfeiting in the fashion and luxury industry, food safety tracking systems, digitizing maintenance in the car industry and many other global supply chain processes.
For more information on VeChain, see their reddit and website. Read “What is Vechain” to learn about the project, and our investment opinion piece “5 Reasons to Invest in Vechain“.

#17 – Ethereum Classic (ETC)

📷
Ethereum Classic came about after a hard fork of Ethereum in 2016. The fork was a result of the infamous DOA hack where around 50 million dollars worth of Ethereum was stolen due to what was considered an oversight in the code.
The blockchain was forked in order to recoup the losses from this attack, but a small portion of the community did not wish to go back and change the original blockchain. Vitalik Buterin, founder of Ethereum, and subsequently the development team chose to go with the hard fork and work on what is now “Ethereum” today.
There is a lot of ongoing controversy with Ethereum Classic which can be better described on this reddit thread. For an in-depth discussion of Ethereum Classic, see”What is Ethereum Classic“.

#18 – Binance Coin (BNB)

📷
Binance Coin is the coin used to facilitate operations on the Binance platform, a cryptocurrency exchange that is capable of processing 1.4 million orders per second. The name “Binance” is derived from the combination of the terms “binary” and “finance”, referring to the integration of digital technology and finance.
The BNB coin is used to pay exchange fees, withdrawal fees, listing fees, and all other possible transaction expenses on the Binance platform. In order to incentivize new users to do their cryptocurrency trading on Binance, the team is offering discounts when BNB is used to pay fees. The discount will be 50% in the first year, 25% in the second, 12.5% in the third, and 6.25% in the fourth year before the discount ends.
Binance was primarily marketed to Chinese cryptocurrency investors at first, but they also have English, Korean, Japanese, French, Spanish, and Russian versions of the platform.
For a deeper look into Binance, you can read the whitepaper or check out the trading platform here.

#19 – Bytecoin (BCN)

📷
Bytecoin describes itself as “a private, decentralized cryptocurrency with with open source code that allows everyone to take part in the Bytecoin network development”. It is the first coin to offer untraceable payments, unlinkable transactions and resistance to blockchain analysis.
With Bytecoin, it is possible to send instant transactions anywhere around the world, which are totally untraceable and don’t require additional fees.
Bytecoin’s development is community-driven and a list of all of the different community websites can be found here.
For more information on Bytecoin, see: “What is Bytecoin“.

#20 – QTUM (QTUM)

📷
QTUM (pronounced Quantum) is an open-source value transfer platform which focuses on mobile decentralized apps or Dapps. QTUM is the world’s first proof-of-stake smart contracts platform.
QTUM is meant to be used as both a value transfer protocol, like Bitcoin, and a smart contract platform, like Ethereum. They have a number of technical innovations which some consider to make it superior to Ethereum, and they are focusing on mobile applications.
The platform itself is very new. It came about in March 2017, after a highly successful crowdfunding campaign raised them nearly 16 million dollars in only 5 days. QTUM has a small but strong development team and an impressive list of investors backing their ideas. QTUM’s development is lead by the Singapore based QTUM Foundation.
For further reading on the background of QTUM and what sets them apart, see “What is QTUM”.

#21 – Zcash (ZEC)

📷
ZCash is a value transfer protocol forked off of the Bitcoin blockchain. ZCash can be used like Bitcoin, with a few added improvements. With “zero cash technology”, ZCash shields both the amount transferred and the senders, making transactions truly anonymous.
ZCash is one of the new kids on the block in the world of “private transactions”.
An interesting note is that Ethereum is in the process of implementing some of ZCash’s technologies to enable transactions on the Ethereum network to be anonymous as well.
ZCash is being developed by the Zerocoin Electric Coin Company. They’ve had some great successes, most notably JP Morgan’s announcement that they would implement Zcash’s privacy technology to Quarum, a technology JP built on Ethereum.
Interested in investing in ZCash? Here’s the opinion of one of our writers: Should You Invest In ZCash?
ZCash was recently featured on the Radiolab episode The Ceremony.

#22 – OmiseGO (OMG)

📷
“Unbank the Banked” is the slogan of Omise’s online platform OmiseGo and that’s exactly what Omise has set out to do. Founded in 2013 off of the Ethereum blockchain, Omise aims to revolutionize the financial dynamics in Southeast Asia.
Omise is targeting individuals and businesses of all sizes by improving the current financial system which is slow, outdated, and inaccessible to most “everyday” people in these countries.
With their planned online exchange OmiseGO, Omise seeks to speed up the way money is spent and sent, both domestically and internationally in Southeast Asia and beyond.
They have a lot to celebrate too. OmiseGo has been building partnerships in the region and recently partnered with McDonald’s and Credit Saison.
Omise has established a strong team of over 130 staff members located in different countries. CEO and founder of Omise, Jun Hasegawa, has been involved in multiple startups and worked for Google for over 16 years.
The OmiseGO platform has been endorsed by some of the heavy hitters in the cryptocurrency world such as Vitalik Buterin and Gavin Wood, the co-founders of Ethereum.
For more information on what OmiseGO aims to do, see “What is OmiseGo”.

#23 – ICON (ICX)

📷
Fresh off a successful ICO, the Korea-based startup ICON is looking to provide a medium to connect all the different blockchains together. This puts ICON in the same field as Ark, which is attempting to accomplish similar goals.
The main concept of ICON is their idea of a “loopchain”. As stated in their whitepaper, a loopchain can be described as a “high-performance blockchain that can provide real-time transaction, which is based on enhanced Smart Contract.” Through ICON, participants will be able to connect to any blockchain without relying on the current centralized exchanges.
ICON has a relatively large team from various backgrounds. They have also secured the help of a few notable advisors such as Jason Best and Don Tapscott.
For more information on ICON and the work they’re doing, see “What is ICON“.

#24 – Lisk (LSK)

📷 Lisk is a decentralized network, like Bitcoin and Litecoin, which enables developers to deploy their own side chains off the main Lisk blockchain. These side chains are fully customizable blockchains which enable you to change the parameters you want to fit your own blockchain application.
This is similar to Ethereum and QTUM in some ways. With Lisk, the main difference is that the customizable blockchains split into their own separate side chains. This saves developers the grueling legwork of designing something from scratch. At the end of the day, side chains are only decentralized databases of blockchain applications.
Lisk is being developed by a small but quickly growing Berlin-based team. They are led by co-founders Max Kordek and Olivier Beddows who are veterans in the cryptocurrency and development world.
For a thorough look into Lisk including more on what Lisk does, its competitors, challenges and teams, see “What is Lisk”. You can also check out our case study of an accountant who invested all his life savings in Lisk: “Accountant Invests All in Lisk”.

#25 – Zilliqa – (ZIL)

📷
Zilliqa is a blockchain platform which focuses on solving the problem of scaling on public blockchains. With Zilliqa’s network, the number of transactions increases at a linear rate to the number of nodes.
This means that as nodes increase, so will its ability to handle high transaction volume. Zilliqa has already run a successful test on their network, where they were able to achieve 1,200 transactions per second with only 2,400 nodes.
Zilliqa also is the first blockchain to successfully integrate “sharding” into a public blockchain. This concept is extremely useful in improving the rate of scalability, bandwidth and performance in blockchains. Sharding, in effect, splits nodes into “shards” which can then conduct micro-transactions in each blockchain block.
In addition to this, Zilliqa claims to be more energy-efficient to mine. They also plan to implement dapps into their platform in the future.
For more information on Zilliqa, see their website and reddit. Our article “What is Zilliqa” can provide you with an overview of the project.

Source: https://www.investinblockchain.com/top-cryptocurrencies/

submitted by SilverSniper2017 to cryptoinvestingtop [link] [comments]

New difficulty algorithm part 2 | Scott Roberts | Oct 11 2017

Scott Roberts on Oct 11 2017:
(This is new thread because I'm having trouble getting yahoo mail
to use "reply-to", copy-pasting the subject did not work, and the
list has not approved my gmail)
A hard fork in the near term is feasible only post-disaster (in my mind,
that means Core failing from long transaction delays that destroys
confidence and therefore price). A hard fork attempt to fix the situation
will not work unless the difficulty is fixed to let price guide hash power
instead of vice versa. We seem to be headed towards letting the tail wag
the dog. BTC may find itself in the same position as BCH and all alts: the
current difficulty algorithm is untenable and will require a fork.
Current difficulty algorithm in presence of higher hashrate coin with
the same POW:
lower hashpower => wait times => lost confidence => lower price => defeat
Difficulty algorithms that alts find absolutely necessary when there
is a higher hash rate coin with the same POW:
hodler faith => price => hashpower => survivable coin
Alt experience time and time again is that Core will have to fork to a
faster responding difficulty algorithm if it finds itself suddenly (and
for the first time) with a lower hashrate.
Mark Friedenbach wrote:
changing the difficulty adjustment algorithm doesn’t solve the underlying
issue, hashpower not being aligned with users’ (or owners') interests.
I define "users" as those who it it for value transfer (including
purchases) without concern for long-term value. If SegWit2x reduces fees
per coin, then hashpower is being aligned with their short-term interests.
It does not solve it, but it is a pre-requisite if the coin has a lower
hashrate (BTC at end of November). A faster responding diffulty is a
pre-requisite in minority hashrate coins for letting price (hodlers)
dictate hashpower instead of vice versa. This is the experience of alts.
ZmnSCPxj wrote:
Hodlers have much greater power in hardfork situations than miners
Not when hodlers are more evenly split between coins. Miners will prefer
the coin with higher transaction fees which will erode hodler confidence
via longer delays. This means transaction fees will evolve to the highest
that common marketplace users can accepet (they are not intereseted in
hodler security), not the lowest technologically feasible fee that provides
the greatest security. Large blocks reduce network security while giving
the higher total transaction fees to miners even as it can reduce fees per
coin for users. The mining "lobby" will always describe this as "best for
users". Non-hodling users and miners logically prefer SegWit2x.
ZmnSCPxj wrote:
BCH changed its difficulty algorithm, and it is often considered to be to
its detriment due to sudden hashpower oscillations
BCH has survived this long because they did NOT use the bitcoin difficulty
algorithm. Granted, it is a bad design that included an asymmetry that has
resulted in too many coins being issued. If they had inverted the decrease
rule to create a symmetrically fast increase rule instead of keeping
bitcoin's increase logic, they would be in much better shape, much better
than the bitcoin difficulty algorithm. Making it symmetrical and fast would
have resulted in more obvious fast oscillations, but this would have helped
price discovery to settle the oscillations to an acceptable level that
could stabilize the price by preventing too many coins from being issued.
Oscillations require: 1) comparable price and 2) miners having the option
to go back and forth to a larger coin. Bitcoin's long, jumping difficulty
averaging window may destroy the minority hashrate coin faster in fewer
oscillations thanks to a first-to-market effect more than reason. In
persuit of higher total transacton fees, miners are deciding SegWit2x is
"first-to-market" to cause Core to have long delays. This is not a
conspiracy, but simply seeking profit. Since fees per coin can also be
reduced, they can convince themselves and others that it is the best
option.
A shorter difficulty algorithm averaging window enables more, faster
oscillations to enable better price discovery before a winner is chosen.
The design I'm proposing should be close to the ideal. For example, Mark
Friedenbach suggested a difficulty adjustment every 18 blocks by averaging
the past 36 blocks. If a coin using that has the minority hashrate, then it
could quickly develop into a sudden influx from the majority change for 18
blocks, then they exit back to the majority chain for 36 blocks before
doing it again. They get 1/3 of the blocks at "zero excess cost"
(difficulty will be 1/10 the correct value if they are 10x base hashrate)
and then they will leave the constant miners with a higher difficulty for
36 blocks (at 3.33x higher difficulty if the "attackers" are 10x the base
hashrate). This forces constant miners to start copying them, amplifying
the oscillations and delays of the minority hashrate coin. A rolling
average window of any length does not theoretically prevent this, unless
the window is short enough to be comparable to the time cost of switching
coins, if there is a time cost. A say this because in testing I was able
to design an attack algorithm that always gets 1/3 of the coins at "zero
excess cost". But a rolling average with a shorter window should make the
"accidental collusion" of miners seeking profit more unlikely to occur.
The reward function I've proposed appears to reduce it to 1/6 total coins
obtainable at "zero excess cost", and similarly reduce oscillations and
assist better price discovery.
original: https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2017-Octobe015192.html
submitted by dev_list_bot to bitcoin_devlist [link] [comments]

Subreddit Stats: btc top posts from 2018-04-20 to 2018-05-20 06:58 PDT

Period: 29.85 days
Submissions Comments
Total 1000 53623
Rate (per day) 33.50 1780.26
Unique Redditors 466 5134
Combined Score 118969 219877

Top Submitters' Top Submissions

  1. 7839 points, 57 submissions: MemoryDealers
    1. If all the 32MB blocks were permanently 100% full, this $400 hard drive could store the blockchain for the next 7 years. (373 points, 352 comments)
    2. The people behind Bitcoin Cash are the ones who created Bitcoin's network effect in the first place. (357 points, 123 comments)
    3. Bitcoin subscribers are now calling for people to report Bitcoin.com to the Internet Crime Complaint Center of the FBI. It's sad that BTC supporters all seem to be statists who yell about hodling their muh store of value all day. (348 points, 288 comments)
    4. I have more emails saved on my computer than the entire BTC or BCH block chains. (319 points, 131 comments)
    5. Bitcoin.com is now sponsoring pro female MMA athletes. (293 points, 121 comments)
    6. CoinGeek will support Bitcoin.com in lawsuit over the real Bitcoin - Coingeek (273 points, 354 comments)
    7. Bitcoin Cash is now on iOS in the world’s most popular crypto wallet. #winning (257 points, 131 comments)
    8. "The vast majority of mining hash power was controlled by people who were psychologically incapable of disobedience to perceived authority." -Mike Hearn (250 points, 194 comments)
    9. "BTC True Believers" Are Boycotting the First National Talk Radio Show that ever Discussed Bitcoin because they accept BCH payments. (245 points, 116 comments)
    10. All I keep hearing is that Bitcoin Cash is an infested cesspool of lawless, leaderless, disrespectful, narcissistic, greedy, scammy, capitalistic anarchists that will never create digital money! I swear I’m getting dejavu! (225 points, 46 comments)
  2. 3965 points, 19 submissions: hunk_quark
    1. Warren Buffet's Berkshire is the single largest stockholder in BoA and WellsFargo. In case you were wondering about his attitude towards Bitcoin. (614 points, 114 comments)
    2. Purse.io is paying its employees in Bitcoin Cash. (447 points, 63 comments)
    3. Shoutout to Kraken for standing up to NY Attorney General. If Schneiderman wants transparency and accountability he should be looking into auditing the fed. (406 points, 28 comments)
    4. Bitcoin is rat poison. The bankers are the rats. (404 points, 56 comments)
    5. Forbes Author Frances Coppola takes blockstream to task. (364 points, 35 comments)
    6. Purse CEO Andrew Lee confirms they are paying employees in BCH and native BCH integration update will be coming soon! (343 points, 43 comments)
    7. PSA: So called 'low-fee' cryptocurrency Litecoin has transaction fees 20x higher than Bitcoin Cash (264 points, 80 comments)
    8. After today's BCH Upgrade, longer posts are now enabled on memo.cash! (250 points, 31 comments)
    9. Jeffrey Tucker is promoting bitcoin.com at Atlanta Bitcoin Embassy. (195 points, 57 comments)
    10. Anti-Bitcoiners, life comes at you fast! (109 points, 26 comments)
  3. 3846 points, 30 submissions: Kain_niaK
    1. Bitcoin Cash has not only removed the cap on transactions but also the cap on development. Something new pops up every time I blink. (368 points, 162 comments)
    2. I am getting flashbacks from when I tried to close my Bank of America account ... (353 points, 155 comments)
    3. Fucking /bitcoin assholes reported my twitter account and now I need to verify with a phone number before I can continue with twitter. (325 points, 218 comments)
    4. Paul Wasensteiner: When is @Twitter going to fix the abuse of the report button by @bitcoincoreorg supporters? Why are supporters of a supposedly censorship-resistant money using censorship at every opportunity? (295 points, 106 comments)
    5. We should pirate the entire piratebay.org website and all it's functionality directly on to the Bitcoin Cash blockchain. The piratebay.org is just magnet links and comments. Then they will say bcash stole our business ... (232 points, 439 comments)
    6. Fees higher than a dollar cent or waiting times longer than a couple of seconds defeat the entire purpose of why Bitcoin was invented. (218 points, 164 comments)
    7. moneybutton.com is a configurable client-side Bitcoin Cash (BCH) wallet in an iframe. When the user makes a payment, a webhook URL is called allowing your app to respond to the payment, such as displaying content behind a pay wall. (189 points, 37 comments)
    8. We proudly present BCHpizza.org! Now the community can create city bounties for pizza shops to incentivize them to accept Bitcoin Cash. First pizza shop in a city to do so gets the bounty! (177 points, 117 comments)
    9. Bitcoin Cash can turn in to the biggest non violent protest against the establishment ever : "We simply stop using their money." Which is a great way of getting edgy teenagers to join us. There is an almost infinite supply of edgy teenagers in the world. (156 points, 42 comments)
    10. We need testers for the Cash Shuffle plugin. (121 points, 17 comments)
  4. 3666 points, 28 submissions: Windowly
    1. "Billion-dollar corporations take note: Bitcoin Cash is open for business! Just try to fill up our blocks, I dare you. There will be no "Fidelity Effect" with BCH. Unlike BTC, we want you to use the Blockchain. BCH never really hits a scale ceiling."~Dr. Peter Rizun (415 points, 177 comments)
    2. "In a discussion group of BCH, lots of investors concerned about the address confusing problem. BCH community should push every software of ecosystem to upgrade to Cashaddr ASAP."~Jihan Wu (366 points, 215 comments)
    3. "Maybe the best way to bring economic freedom to the world is to make an uncensorable Twitter."~Ryan X. Charles (300 points, 114 comments)
    4. Newbie tip! Do yourself a favor, get a Protonmail email account and switch all your crypto exchanges to that email. No reason Google/Gmail need to have your entire crypto history at their fingertips. (299 points, 133 comments)
    5. "On the 15th of May, I'll be popping the champagne, not to celebrate high fees, but to celebrate continued low fees, privacy enablements, smart contract capabilities, and PayPal level throughput capability."~Eli Afram (233 points, 46 comments)
    6. 24% of the trading on GDAX in the last 24 hours was for Bitcoin Cash (BCH)! 😊💃 (185 points, 16 comments)
    7. Yeah!! "We are pleased to announce that the new Bitcoin Cash address format has been implemented on QuadrigaCX. This will help our users to easily distinguish Bitcoin and Bitcoin Cash addresses when funding/withdrawing their account. The BCH legacy addresses will still be supported." (165 points, 8 comments)
    8. ANNOUNCE: Coinbase has blocked the official @WikiLeaks shop from its platform without notice or explanation. You can continue to donate #Bitcoin to WikiLeaks at https://WikiLeaks.org/donate . (164 points, 55 comments)
    9. There is a Bitcoin Unlimited election today. (BU is one of the 6+ development teams that develop clients for Bitcoin Cash (BCH). BU has a unique governance system where developers are not king. . instead members vote on proposals. If you are a member, please vote! (161 points, 29 comments)
    10. Bitpay Adds Bitcoin Cash Support to Checkout Point-of-Sale App - Bitcoin News (151 points, 22 comments)
  5. 2565 points, 15 submissions: BitcoinXio
    1. Bitcoin Cash is upgrading on May 15 to 32MB max block limit (575 points, 335 comments)
    2. Frances Coppola on Twitter: “Congratulations, Blockstream, you have just reinvented the interbank lending market.” (411 points, 139 comments)
    3. Once again Core supporters threaten with lawsuits and government intervention to try to get their way. This is just pathetic and not the foundations of what Bitcoin was built on. These are not bitcoiners. (299 points, 355 comments)
    4. Get ready - Bitcoin Cash is upgrading on May 15th! (198 points, 132 comments)
    5. CobraBitcoin: "Lightning is cool, but nobody should be recommending it to actual merchants for at least the next few years. Merchants like Steam already got hurt by adopting Bitcoin and regretting it later. Lightning needs time to mature and prove itself. Mad hype to rush adoption will harm it." (157 points, 58 comments)
    6. Blockchain on Twitter: “What's that you see? It's all your BCH that now appears in your #ios wallet. Take control of your financial future and #beyourownbank today.” (138 points, 20 comments)
    7. We are living in the digital age of information, which is why censorship has become such an important issue [...] That’s why I’m excited about decentralized social networks built on top of Bitcoin Cash like @BlockPressApp & @memobch. They are new so need work, but the path is being paved. (131 points, 31 comments)
    8. BlockPress published its protocol (123 points, 22 comments)
    9. We have a new alternative public mod logs (96 points, 35 comments)
    10. If Bitcoin Core (BTC) is no longer usable by many people in the world due to being out priced (high tx fees), is it still “borderless”? I’d argue that it’s no longer borderless if people all over the world are excluded from the network. (95 points, 34 comments)
  6. 2030 points, 11 submissions: tralxz
    1. Breaking News: Winklevoss Brothers Bitcoin Exchange Adds Bitcoin Cash support! (508 points, 115 comments)
    2. Jihan Wu was asked "Why are the miners still supporting Bitcoin Core? Is it just a short term profitability play?", he answered: "Yes, exactly." (279 points, 215 comments)
    3. Cobra:"That feeling when Blockstream, [...] release Liquid, a completely centralized sidechain run only by trusted nodes and designed for banks, financial institutions and exchanges." (245 points, 145 comments)
    4. LibreOffice Foundation accepts Bitcoin Cash donations. (191 points, 11 comments)
    5. Breaking News! Vin Armani: "Major mining pools have agreed to establish a treasury and start funding $BCH development from their block rewards. HUGE!!!" (186 points, 80 comments)
    6. CNBC's Fast Money: Ran NeuNer says he would HODL Bitcoin Cash and sell Bitcoin Core. (172 points, 59 comments)
    7. Jihan Wu on Bloomberg predicting Bitcoin Cash at $100,000 USD in 5 years. (172 points, 65 comments)
    8. Let's start the Bitcoin Cash upgrade party. New era for BCH is coming May 15. Privacy tools + smart contracts + PayPal capacity handling. Exciting times ahead! (106 points, 37 comments)
    9. Coindesk: "Florida Tax Collector to Accept Bitcoin, Bitcoin Cash Payments" (60 points, 8 comments)
    10. Adam B.: "Bitcoin is not a democracy". The authoritarian moves by Core makes perfect sense now. (59 points, 46 comments)
  7. 1485 points, 12 submissions: jonald_fyookball
    1. BTCers fundraise for frivolous lawsuit. BCH fundraises to feed Venezuelans. (233 points, 58 comments)
    2. bitcoin admits: best way to use Lightning Network: don't use it. (189 points, 286 comments)
    3. Electron Cash 3.2 is available. Includes new op-codes and fixes for Ledger hardware wallet (180 points, 50 comments)
    4. If you have to call it bcash you've already lost the argument (164 points, 257 comments)
    5. Cash Shuffle plugin 0.2 - Cash Shuffle development continues (131 points, 37 comments)
    6. Claims that BCH is a "centralized coin" are exaggerations at best. (114 points, 83 comments)
    7. (shitpost) philosoraptor meme: if honeybadger don't care... (106 points, 22 comments)
    8. BCH being a minority chain may be a blessing in disguise (97 points, 83 comments)
    9. Another reason to be bullish on BCH (92 points, 18 comments)
    10. BCHpizza already has 4 bounties posted. It's also no longer needed to sign a message to post a bounty. (89 points, 21 comments)
  8. 1393 points, 8 submissions: rdar1999
    1. Naomi Brockwell on Twitter: "[I] won’t succumb to censorship through intimidation." (332 points, 190 comments)
    2. Consensus 2018 sucked hard. Superficial talks, ridiculous ticket price, overcrowded venue. (233 points, 78 comments)
    3. ==> Becash or Begone: reclaiming the "bcash" trolling (213 points, 107 comments)
    4. See in this twitter thread Luke Jr actually arguing that PayPal is cheaper than BCH!! Is this guy in full delirium? Or just spouts misinformation on purpose? (172 points, 227 comments)
    5. ///\ BTC-BCH persists as the most popular trade on ShapeShift.io /// (171 points, 20 comments)
    6. The retard tribalism is so real. SBI japan's financial giant says they will launch a platform with BCH as settlement coin (due to BTC being bad) and XRP as remittances. I provide the link and cryptocurrency shills deny plain literally declared fact. (124 points, 50 comments)
    7. Chris DeRose on Twitter: "So if Roger ver wins the class action lawsuit, I assume that Bitcoin cash can then rightfully sue Bitcoin core proponents for fraud?" (92 points, 61 comments)
    8. Upgrade completed at height 530356! (56 points, 2 comments)
  9. 1377 points, 12 submissions: Egon_1
    1. Genesis Mining:"We are more than happy to announce that Bitcoin Cash is now available as a Native Mining option for all Bitcoin (Sha256) contracts!" (287 points, 22 comments)
    2. Jihan Wu on BCH Lighthouse:”This project was abandoned on BTC Blockchain long time ago, it is very excited to see it is alive again on BCH Blockchain. It can be very huge.” (278 points, 50 comments)
    3. Yahoo Finance: "Bitcoin Goes Lateral as Bitcoin Cash Steals the Show… AGAIN" (189 points, 46 comments)
    4. "Bitcoin Cash is actually more interesting ..." (119 points, 15 comments)
    5. Jeff Garzik:"Just got an earful from a Chicago cabbie, on $LTC He was very grumpy at @SatoshiLite selling, saying it indicated a lack of founder's confidence in his own creation. #StreetCrypto" (100 points, 8 comments)
    6. “Why don't we start saying: "Bitcoin is Cash" It's much harder to refute than "Bitcoin Cash IS Bitcoin"“ (75 points, 49 comments)
    7. "Because Bitcoin Cash is effectively Bitcoin ✌️ (72 points, 22 comments)
    8. Bye Bye P2P Electronic Cash ... (68 points, 88 comments)
    9. Bitcoin.com Wallet needs more useful services integrated... beyond Shapeshift (59 points, 24 comments)
    10. BCH keeps bitcoins minions busy (48 points, 28 comments)
  10. 1291 points, 9 submissions: increaseblocks
    1. Vitalik Buterin says what we've all been saying - CoinDesk is scammy and complicit bad actor in the cryptocurrency world and should be shunned (510 points, 61 comments)
    2. Bitcoin Wallet Mycelium Begins Rolling Out Bitcoin Cash BCH Support (163 points, 39 comments)
    3. Cheddr is a Bitcoin Cash Point Of Sale system that runs in most modern browsers - no server infrastructure required (137 points, 31 comments)
    4. Leaked Telegram chat shows bitcoin.com "fraud" lawsuit was abandoned due to lack of support 😂😂😂 (135 points, 32 comments)
    5. Toshi to expand beyond Ethereum - will add Bitcoin Cash (91 points, 7 comments)
    6. Litecoin transaction fees 20 times higher than Bitcoin Cash (85 points, 44 comments)
    7. DAMN BCH! (68 points, 25 comments)
    8. In honor of the Bitcoin Cash successful upgrade and now we have the true lightning network. I present to you lightningnetwork.cash! (58 points, 22 comments)
    9. Bcore shills are crying right now 😭😭😂😂 (44 points, 10 comments)
  11. 1202 points, 9 submissions: SharkLaserrrrr
    1. Memo is now open source! (361 points, 160 comments)
    2. Based on @BitcoinCashFund report, preliminary calculation: Total spent: $153,138.49 Total spent on Salaries and Travel: $101,996.79 ~66% of donations is spent on themselves, charities/non-profits (official registered ones) limit themselves to less than 10% (161 points, 181 comments)
    3. [PREVIEW] Looks like Lighthouse powered by Bitcoin Cash is coming together nicely thanks to the hard work of an anonymous developer. I wonder how Mike Hearn feels about his project being resurrected. (159 points, 24 comments)
    4. We heard you want a Bitcoin Cash exclusive wallet that uses ‘bits’ and enables you to buy anything online and pay with Bitcoin Cash so we are building one #cashpay #CryptonizeYourPurchases (137 points, 77 comments)
    5. Bitcoin Cash is the real Bitcoin experience. If you have any doubts, go buy something on cryptonize.it, then buy something off a Lightning store and compare what you had to go through to pay for your order. (103 points, 51 comments)
    6. As of today, cryptonize.it shows prices in Bitcoin Cash next to fiat! (81 points, 9 comments)
    7. Incompatible protocols gave us the ’90s web which was not a pretty sight. Let’s not repeat the same mistakes when building censorship resisted social media powered by Bitcoin Cash. Support @MemoBCH protocol. (72 points, 57 comments)
    8. To help developers raise funds, cryptonize.it is sponsoring a Lighthouse server and website so useful projects can be funded by the community directly. (66 points, 7 comments)
    9. $25,- Amazon gift cards back in store, 0-conf. instant delivery, the real bitcoin experience (62 points, 18 comments)
  12. 1189 points, 1 submission: ocist1121
    1. No spend (1189 points, 87 comments)
  13. 1148 points, 6 submissions: BeijingBitcoins
    1. Three years ago today, Mike Hearn published an article explaining exactly what would happen when the 1MB blocksize limit was hit. He was right on all counts. (473 points, 173 comments)
    2. An easy way to visualize the August 1st Hard Fork. Neither of the two branches resulting from a fork can be called "the original road," but only one branch continues towards the same destination. (163 points, 140 comments)
    3. Bitcoin Core fanatics are trying to organize a lawsuit against Bitcoin.com for using the term "Bitcoin (BCH)", while they run around all day labelling it "Bcash" (157 points, 167 comments)
    4. "Bitcoin Cash won't "fork" in May. Instead, Bitcoin Cash will just upgrade." (123 points, 53 comments)
    5. Just launched: Satoshi Pulse, by Bitcoin.com (121 points, 44 comments)
    6. Ryan Charles delivers an epic rant about Lightning Network problems (111 points, 19 comments)
  14. 1085 points, 10 submissions: unitedstatian
    1. Reminder: Blockstream plans to make money from the proprietary solutions it sells, which is why it moved away from the free permissionless blockchain to an abstracted layer on top which requires 3rd party solutions to be cost effective for most users. (220 points, 146 comments)
    2. It seems there's been a massive propaganda campaign to brainwash people into thinking hardforks are bad. (180 points, 56 comments)
    3. BCH could really be missing the new big use case. Gamers would love to have real ownership of game items. The first game which will integrate a digital coin and make it popular will be groundbreaking. (141 points, 76 comments)
    4. The guy had 350 bucks received via Lightning Network but he can't even close the channels to actually withdraw the bitcoins. (139 points, 188 comments)
    5. What gives Core the right to change the model so drastically and still keep the brand name? (119 points, 117 comments)
    6. One of the most ignorant - even anti-crypto - argument I hear around is that BCH is a currency controlled by Chinese miners. (88 points, 74 comments)
    7. The first megabytes are far more crucial than the 100th. Not every MB was born equal and by giving up on adoption for years Core may have given up on adoption forever. (69 points, 20 comments)
    8. In light of the recent ERC-20 bug I think this is a good time to remember these wise words (54 points, 25 comments)
    9. If BCH had decent privacy features it'd gain so much more market share. It's hard to compete with privacy-always-on coins such as XMR but many more coins offer moderate privacy and would be easy to beat. (42 points, 31 comments)
    10. If Memo taught me one thing it's the more uses around the coin the better - can BCH be adopted to help fight counterfeiting? (33 points, 4 comments)
  15. 1055 points, 5 submissions: ForkiusMaximus
    1. MortuusBestia hits on a pitch-perfect way of looking at BCH's value proposition in epic comment on /BitcoinMarkets (604 points, 109 comments)
    2. I am excited that BCH is being irrationally criticized, because it reminds me of 2011 and 2012 when Bitcoin was being irrationally criticized. Any of 2013, when the price rose 100x. (183 points, 82 comments)
    3. Japanese tweeter makes a good point about BTC: "You don't call it an asset if it crumbles away every time you go to use it. You call it a consumable." (144 points, 21 comments)
    4. Jimmy Nguyen: Bitcoin Cash can function for higher level technical programming (80 points, 3 comments)
    5. How NOT to tell which is "the real Bitcoin" (44 points, 15 comments)
  16. 1032 points, 6 submissions: theantnest
    1. Let's start a class action lawsuit against Canada for calling their currency the dollar. I accidentally bought CAD when I wanted USD, and didn't know I could just exchange it again. (511 points, 243 comments)
    2. BTC noobs conned into being concerned about node count to distract them from the real centralization problem: (137 points, 172 comments)
    3. Any real scientist interested in Bitcoin should be happy Bitcoin Cash exists. (110 points, 40 comments)
    4. Blockstream shill admits to exaggerating and slandering Roger purely because he doesn't support BTC. (103 points, 49 comments)
    5. Cognitive Dissonance: It's totally fine to call BCH 'bcash', but it's fraudulent to call it Bitcoin? (93 points, 51 comments)
    6. Be Cash! (78 points, 45 comments)
  17. 1029 points, 7 submissions: zhell_
    1. MEMO NOW SUPPORTS REPLIES, join the Party now ! (208 points, 50 comments)
    2. memo.cash has been generating 2000 tx/day since its start, which is near 10% of all transactions on the BCH network. (201 points, 73 comments)
    3. "Money comes from being the most tradable of all commodities" Austrian Economics (189 points, 104 comments)
    4. Fiat is crashing: Inflation in the US averages at 10%/year in the past 5 years when measured as the price of the top 500 items on which Americans spend their after-tax dollars. (183 points, 49 comments)
    5. Memo.cash breaks a record with 3000 on-chain actions in the last 24h after implementing replies (143 points, 25 comments)
    6. with 2k tx/day, memo.cash is only using ~0.09% of 8MB blocks capacity currently on the BCH network (that would be 0.02% of 32MB blocks) (69 points, 3 comments)
    7. Help! I bought what I thought was Bitcoin and it is now gone! /s (36 points, 8 comments)
  18. 1020 points, 4 submissions: Anenome5
    1. Let's End the War and focus on the TRUE ENEMY (719 points, 349 comments)
    2. Satoshi's original whitepaper talks about "Reclaiming Disk Space" by pruning transactions, what's being done on this front? Core-trolls say we don't need to store forever that you bought a coffee, and that's true, and Satoshi also proposed how to fix that long ago. (200 points, 166 comments)
    3. Core'er says $50 fees "a wtf moment for everyone" but doubts it will ever happen again. Seems they're in for a surprise, BTC is still extremely vulnerable to transaction-fee price-inflation due to low capacity. BTC transaction fees currently 19+ times higher than BCH. (65 points, 30 comments)
    4. Bitcoin Cash, the early years... [OC] (36 points, 16 comments)

Top Commenters

  1. jessquit (3904 points, 368 comments)
  2. Kain_niaK (3058 points, 684 comments)
  3. bambarasta (2674 points, 360 comments)
  4. H0dl (2352 points, 464 comments)
  5. rdar1999 (2352 points, 404 comments)
  6. BitttBurger (2301 points, 313 comments)
  7. Adrian-X (2118 points, 506 comments)
  8. MemoryDealers (2084 points, 102 comments)
  9. trolldetectr (2073 points, 502 comments)
  10. LexGrom (2055 points, 709 comments)
  11. Ant-n (1834 points, 334 comments)
  12. LovelyDay (1820 points, 468 comments)
  13. jimbtc (1734 points, 212 comments)
  14. fruitsofknowledge (1618 points, 469 comments)
  15. ForkiusMaximus (1612 points, 211 comments)
  16. unstoppable-cash (1537 points, 201 comments)
  17. unitedstatian (1485 points, 388 comments)
  18. jonald_fyookball (1481 points, 142 comments)
  19. Bitcoinopoly (1471 points, 175 comments)
  20. BeijingBitcoins (1430 points, 100 comments)
  21. KoKansei (1330 points, 84 comments)
  22. MobTwo (1309 points, 93 comments)
  23. btcnewsupdates (1263 points, 153 comments)
  24. lubokkanev (1252 points, 298 comments)
  25. BitcoinXio (1251 points, 76 comments)
  26. taipalag (1248 points, 250 comments)
  27. mrtest001 (1075 points, 271 comments)
  28. LuxuriousThrowAway (1072 points, 163 comments)
  29. MarchewkaCzerwona (1046 points, 119 comments)
  30. cbeaks (985 points, 175 comments)
  31. SharkLaserrrrr (976 points, 135 comments)
  32. tippr (974 points, 523 comments)
  33. knight222 (963 points, 132 comments)
  34. PsyRev_ (941 points, 189 comments)
  35. radmege (919 points, 62 comments)
  36. Anenome5 (914 points, 182 comments)
  37. Churn (886 points, 75 comments)
  38. 324JL (855 points, 200 comments)
  39. emergent_reasons (854 points, 143 comments)
  40. TiagoTiagoT (841 points, 320 comments)
  41. bahkins313 (831 points, 121 comments)
  42. silverjustice (825 points, 62 comments)
  43. cryptorebel (812 points, 148 comments)
  44. scotty321 (811 points, 121 comments)
  45. DaSpawn (808 points, 113 comments)
  46. homopit (795 points, 100 comments)
  47. AcerbLogic (786 points, 205 comments)
  48. normal_rc (777 points, 59 comments)
  49. fiah84 (774 points, 136 comments)
  50. Deadbeat1000 (753 points, 61 comments)

Top Submissions

  1. No spend by ocist1121 (1189 points, 87 comments)
  2. 1 For whoever questions the utility of Bitcoin, here's banking summarized accurately by rlibec (783 points, 163 comments)
  3. Let's End the War and focus on the TRUE ENEMY by Anenome5 (719 points, 349 comments)
  4. Am I the only one that doesn't mind Bitcoin Cash being called "Bitcoin Cash" instead of just "Bitcoin" (for now)? by d3on (672 points, 401 comments)
  5. Warren Buffet's Berkshire is the single largest stockholder in BoA and WellsFargo. In case you were wondering about his attitude towards Bitcoin. by hunk_quark (614 points, 114 comments)
  6. MortuusBestia hits on a pitch-perfect way of looking at BCH's value proposition in epic comment on /BitcoinMarkets by ForkiusMaximus (604 points, 109 comments)
  7. coincall.io labels BCH a "shitcoin" by groovymash (586 points, 329 comments)
  8. Erik Voorhees: “Roger - please stop referencing me to back up your opinion that Bitcoin Cash is Bitcoin. It isn't. Bitcoin is the chain originating from the genesis block with the highest accumulated proof of work. The Bitcoin Cash fork failed to gain majority, thus it is not Bitcoin.” by sumsaph (585 points, 547 comments)
  9. Can’t believe this was available. My new license plate.. by VanquishAudio (581 points, 113 comments)
  10. Bitcoin Cash is upgrading on May 15 to 32MB max block limit by BitcoinXio (575 points, 335 comments)

Top Comments

  1. 322 points: rdar1999's comment in My dog ate my TREZOR. Check your recovery seeds folks!
  2. 314 points: my_next_account's comment in Erik Voorhees: “Roger - please stop referencing me to back up your opinion that Bitcoin Cash is Bitcoin. It isn't. Bitcoin is the chain originating from the genesis block with the highest accumulated proof of work. The Bitcoin Cash fork failed to gain majority, thus it is not Bitcoin.”
  3. 259 points: everyother's comment in 1 For whoever questions the utility of Bitcoin, here's banking summarized accurately
  4. 225 points: morli's comment in Can’t believe this was available. My new license plate..
  5. 209 points: groovymash's comment in coincall.io labels BCH a "shitcoin"
  6. 206 points: insanityzwolf's comment in Am I the only one that doesn't mind Bitcoin Cash being called "Bitcoin Cash" instead of just "Bitcoin" (for now)?
  7. 183 points: BitttBurger's comment in MoneyTrigz fails to raise more than $3,700 for Bitcoin.com lawsuit. Considers pulling the plug.
  8. 182 points: patrick99e99's comment in I used to think BCH was the bad guy, now I'm beginning to change the way I see it... Convince me that BCH is the real Bitcoin
  9. 175 points: RollieMe's comment in Trying to see both sides of the scaling debate
  10. 156 points: KillerDr3w's comment in My dog ate my TREZOR. Check your recovery seeds folks!
Generated with BBoe's Subreddit Stats
submitted by subreddit_stats to subreddit_stats [link] [comments]

JPMorgan suppresses gold & silver prices to prop up the USDollar - via "naked short selling" of GLD & SLV ETFs. Now AXA (which owns $94 million of JPMorgan stock) may be trying to suppress Bitcoin price - via tiny blocks. But AXA will fail - because the market will always "maximize coinholder value"

TL;DR
As a bitcoin user (miner, hodler, investor) you have all the power - simply due to the nature of markets and open-source software. Core/Blockstream, and their owners at AXA, can try to manipulate the market and the software for a while, by paying off devs who prefer tiny blocks, or censoring the news, or conducting endless meetings - but in the end, you know that they have no real control over you, because endless meetings are bullshit, and code and markets are everything.
Bitcoin volume, adoption, blocksize and price have been rising steadily for the past 7 years. And they will continue to do so - with or without the cooperation of Core/Blockstream and the Chinese miners - because just like publicly held corporations always tend to "maximize shareholder value, publicly held cryptocurrencies always tend to "maximize coinholder value".
How much of a position does AXA have in JPMorgan?
AXA currently holds about $94 million in JPMorgan stock.
http://zolmax.com/investing/axa-has-94718000-position-in-jpmorgan-chase-co-jpm/794122.html
https://archive.is/HExxH
Admittedly this is not a whole lot, when you consider that the total of JPMorgan's outstanding shares is currently around USD 3.657 billion.
But still it does provide a suggestive indication of how these big financial firms are all in bed with each other. Plus the leaders of these big financial firms also tend to hang out which each other professionally and socially, and are motivated to protect the overall system of "the legacy ledger of fantasy fiat" which allows them to rule the world.
How does JPMorgan use paper GLD and SLV ETFs to suppress the price of physical gold and silver?
As many people know, whistleblower Andrew Maguire exposed the massive criminal scandal where JPMorgan has been fraudulently manipulating gold and silver prices for years.
JPMorgan does this via the SLV and GLD ETFs (Exchange Traded Funds).
The reason they do it is in order to artificially suppress the price of gold and silver using "naked short-selling":
https://duckduckgo.com/?q=andrew+maguire+gata+jpmorgan+nake+short&t=hd&ia=videos
How exactly does JPMorgan manage to commit this kind of massive fraud?
It's easy!
There's actually about 100x more "phantom" or fake silver and gold in existence (in the form of "paper" certificates - SLV and GLD ETFs) - versus actual "physical" gold and silver that you can take delivery on and hold in your hand.
That means that if everyone holding fake/paper SLV & GLD ETF certificates were to suddenly demand "physical delivery" at the same moment, then only 1% of those people would receive actual physical silver and gold - and the rest would get the "equivalent" in dollars. This is all well-known, and clearly spelled out in the fine print of the GLD and SLV ETF contracts.
(This is similar to "fractional reserve" where almost no banks have enough actual money to cover all deposits. This means that if everyone showed up at the bank on the same day and demanded their money, the bank would go bankrupt.)
So, in order to fraudulently suppress the price of gold and silver (and, in turn, prevent the USDollar from crashing), JPMorgan functions as a kind of "bear whale", dumping "phantom" gold and silver on the market in the form of worthless "paper" SLV and GLD ETF certificates, "whenever the need arises" - ie, whenever the US Dollar price starts to drop "too much", and/or whenever the gold and silver prices start to rise "too much".
(This is similar to the "plunge protection team" liquidity providers, who are well-known for preventing stock market crashes, by throwing around their endlessly printed supply of "fantasy fiat", buying up stocks to artificially prevent their prices from crashing. This endless money-printing and market manipulation actually destroys one of the main purposes of capitalism - which is to facilitate "price discovery" in order to reward successful companies and punish unsuccessful ones, to make sure that they actually deliver the goods and services that people need in the real world.)
Is there an ELI5 example of how "naked short selling" works in the real world?
Yes there is!
The following example was originally developed by Overstock CEO Patrick Byrne - who, as many people know, is very passionate about using Bitcoin not only as cash, but also to settle stock trades - because his company Overstock got burned when Wall Street illegally attacked it using naked short selling:
Here's how naked short-selling works: Imagine you travel to a small foreign island on vacation. Instead of going to an exchange office in your hotel to turn your dollars into Island Rubles, the country instead gives you a small printing press and makes you a deal: Print as many Island Rubles as you like, then on the way out of the country you can settle your account. So you take your printing press, print out gigantic quantities of Rubles and start buying goods and services. Before long, the cash you’ve churned out floods the market, and the currency's value plummets. Do this long enough and you'll crack the currency entirely; the loaf of bread that cost the equivalent of one American dollar the day you arrived now costs less than a cent.
With prices completely depressed, you keep printing money and buy everything of value - homes, cars, priceless works of art. You then load it all into a cargo ship and head home. On the way out of the country, you have to settle your account with the currency office. But the Island Rubles you printed are now worthless, so it takes just a handful of U.S. dollars to settle your debt. Arriving home with your cargo ship, you sell all the island riches you bought at a discount and make a fortune.
http://www.rollingstone.com/politics/news/wall-streets-naked-swindle-20100405
Why isn't anybody stopping JPMorgan from using "naked short selling" to fraudulently suppress gold and silver prices?
Because "certain people" benefit!
Of course, this "naked short selling" (selling a "phantom" asset which doesn't actually exist in order to suppress the price of the "real" asset) is actually illegal - but JPMorgan is allowed to get away with it, because suppressing the gold and silver price helps prop up the United States and world's major "fantasy fiat" financial institutions - which would be bankrupt without this kind of "artificial life support."
How does suppressing the gold and silver price help governments and banks?
If gold and silver (and Bitcoin!) rose to their actual "fair market value", then the US dollar (and most other national "fiat" currencies) would crash - and many major financial institutions would be exposed as bankrupt. Also, many "derivatives contracts" would default - and only a tiny percentage of defaults would destroy most major financial companies' balance sheets. (For example, see Deutsche Bank - which is may become "the next Lehman", due to having around around $80 trillion in dangerous derivatives exposure.)
So, major financial firms like JPMorgan are highly motivated to prevent a "real" (honest) market from existing for "counterparty-free" assets such as physical gold and silver (and Bitcoin!)
So, JPMorgan fraudulently manipulate the precious-metals market, by flooding it with 100x more "phantom" "silver" and "gold" in the form of worthless GLD and SLV ETF certificates.
Basically, JPMorgan is doing the "dirty work" to keep the US government and its "too-big-to-fail" banks and other financial institutions afloat, on "artificial life support".
Otherwise, without this GLD & SLV ETF "naked short selling" involving market manipulation and fraud, the US government - and most major US financial institutions, as well as many major overseas financial institutions, and most central banks - would all be exposed as bankrupt, once traders and investors discovered the real price of gold and silver.
So, what does this have to do with AXA and Bitcoin?
Just like JPMorgan wants to suppress the price of gold and silver to prop up the USDollar, it is reasonable to assume that AXA and other major financial players probably also want to suppress the price of Bitcoin for the same reasons - in order to postpone the inevitable day when the so-called "assets" on their balance sheets (denominated in US Dollars and other "fantasy fiat" currencies, as well as derivatives) are exposed as being worthless.
Actually, only the motives are the same, while the means would be quite different - ie, certain governments or banks might want to suppress the Bitcoin price - but they wouldn't be able to use "naked short selling" to do it.
As we know, this is because with Bitcoin, people can now simply demand "cryptographic proof" of how many bitcoins are really out there - instead of just "trusting" some auditor claiming there is so much gold and silver in a vault - or "trusting" that a gold bar isn't actually filled with worthless tungsten (which happens to have about the same "molecular weight" as gold, so these kinds of counterfeit gold bars have been a serious problem).
(And, by the way: hopefully it should also be impossible to do "fractional reserve" using "level 2" sidechains such as the Lightning Network - although that still remains to be seen. =)
So, even though it should not be possible to flood the market with "phantom" Bitcoins (since people can always demand "cryptographic proof of reserves"), AXA could instead use a totally different tactic to suppress the price: by suppressing Bitcoin trading volume - explained further below.
Does AXA does actually have the motives to be suppressing the Bitcoin price - right now?
Yes, they do!
As described above, the only thing which gives giant banking and finance companies like JPMorgan and AXA the appearance of solvency is massive accounting fraud and market manipulation.
They use the "legacy ledger of fantasy fiat" (ie, debt-backed "currency", endlessly printed out of thin air) - and the never-ending carrousel of the worldwide derivatives casino, currently worth around 1.2 quadrillion dollars - to "paper over" their losses, and to prevent anyone from discovering that most major insurance firms like AXA - and most major banks - would already be considered bankrupt, if you counted only their real assets. (This is known as "mark-to-market" - which they hate to do. They much prefer to do "mark-to-model" which some people call "mark-to-fantasy" - ie, fraudulent accounting based on "phantom" assets" and rampant market manipulation.)
So, it is public knowledge that nearly all "too-big-to-fail" financial companies like AXA (and JPMorgan) would be considered bankrupt if their fraudulent accounting practices were exposed - which rely on the "legacy ledger of fantasy fiat" and the "never-ending carrousel of the derivatives casino" to maintain the façade of solvency:
If Bitcoin becomes a major currency, then tens of trillions of dollars on the "legacy ledger of fantasy fiat" will evaporate, destroying AXA, whose CEO is head of the Bilderbergers. This is the real reason why AXA bought Blockstream: to artificially suppress Bitcoin volume and price with 1MB blocks.
https://np.reddit.com/btc/comments/4r2pw5/if_bitcoin_becomes_a_major_currency_then_tens_of/
Does AXA actually have the means to to be suppressing the Bitcoin price... right now?
Yes, they do!
For example, AXA could decide to support economically ignorant devs like Greg Maxwell (CTO of Blockstream), Adam Back (CEO of Blockstream), and the other Core devs who support Blockstream's "roadmap" based on tiny blocks.
Wait - isn't AXA already doing precisely that?
Yes, they are!
As we all know, AXA has invested tens of millions of dollars in Blockstream, and Blockstream is indeed fighting tooth and nail against bigger blocks for Bitcoin.
Blockstream is now controlled by the Bilderberg Group - seriously! AXA Strategic Ventures, co-lead investor for Blockstream's $55 million financing round, is the investment arm of French insurance giant AXA Group - whose CEO Henri de Castries has been chairman of the Bilderberg Group since 2012.
https://np.reddit.com/btc/comments/47zfzt/blockstream_is_now_controlled_by_the_bilderberg/
So, how would artificially tiny blocks artificially suppress the Bitcoin price?
This is pretty much based on common sense - plus it's also been formalized and roughly quantified in concepts involving networking and economics, such as "Metcalfe's Law".
Metcalfe's Law says pretty much what you'd expect it to say - ie: the more people that use a system, the more valuable that system is.
More precisely: the value of a system is proportional to the square of the number of users in that system - which also makes sense, since when there are N users in a system, the number of connections between them is N*(N - 1)2 which is "on the order of" N squared.
In fact, Metcalfe's Law has been shown to hold for various types of networks and markets - including faxes, internet, national currencies, etc.
Does Metcalfe's Law apply to Bitcoin?
Yes, it does!
The past 7 years of data also indicates - as predicted - that Metcalfe's Law also does indeed apply to Bitcoin as well.
Graphs show that during the 5 years before Blockstream got involved with trying to artificially suppress the Bitcoin price via their policy of artificially tiny blocks, Bitcoin prices were roughly in proportion to the square of the (actual) Bitcoin blocksizes.
Bitcoin has its own E = mc2 law: Market capitalization is proportional to the square of the number of transactions. But, since the number of transactions is proportional to the (actual) blocksize, then Blockstream's artificial blocksize limit is creating an artificial market capitalization limit!
https://np.reddit.com/btc/comments/4dfb3bitcoin_has_its_own_e_mc2_law_market/
During all those years, actual blocksizes were still low enough to not bump into the artificial "ceiling" of the artificial 1 MB "max blocksize" limit - which, remember, was only there as a temporary anti-spam measure, so it was deliberately set to be much higher than any actual blocksize, and everyone knew that this limit would be removed well before actual blocksizes started getting close to that 1 MB "max blocksize" limit.
But now that Bitcoin volume can't go up due to hitting the artificial "max blocksize" 1 MB limit (unless perhaps some people do bigger-value transactions), Bitcoin price also can't go up either:
Bitcoin's market price is trying to rally, but it is currently constrained by Core/Blockstream's artificial blocksize limit. Chinese miners can only win big by following the market - not by following Core/Blockstream. The market will always win - either with or without the Chinese miners.
https://np.reddit.com/btc/comments/4ipb4q/bitcoins_market_price_is_trying_to_rally_but_it/
So what does this all have to do with that meeting in Silicon Valley this weekend, between Core/Blockstream and the Chinese miners?
This latest episode in the never-ending saga of the "Bitcoin blocksize debates" is yet another centralized, non-transparent, invite-only stalling non-scaling, no-industry-invited, no-solutions-allowed, "friendly" meeting being held this weekend - at the very last moment when Blockstream/Core failed to comply with the expiration date for their previous stalling non-scaling non-agreement:
The Fed/FOMC holds meetings to decide on money supply. Core/Blockstream & Chinese miners now hold meetings to decide on money velocity. Both are centralized decision-making. Both are the wrong approach.
https://np.reddit.com/btc/comments/4vfkpthe_fedfomc_holds_meetings_to_decide_on_money/
So, on the expiration date of the HK stalling / non-scaling non-agreement, Viacoin scammer u/btcdrak calls a meeting with no customer-facing businesses invited (just Chinese miners & Core/Blockstream), and no solutions/agreements allowed, and no transparency (just a transcript from u/kanzure). WTF!?
https://np.reddit.com/btc/comments/4vgwe7/so_on_the_expiration_date_of_the_hk_stalling/
This disastrous, desperate meeting is the latest example of how Bitcoin's so-called "governance" is being hijacked by some anonymous scammer named u/btcdrak who created a shitcoin called Viacoin and who's a subcontractor for Blockstream - calling yet another last-minute stalling / non-scaling meeting on the expiration date of Core/Blockstream's previous last-minute stalling / non-scaling non-agreement - and this non-scaling meeting is invite-only for Chinese miners and Core/Blockstream (with no actual Bitcoin businesses invited) - and economic idiot u/maaku7 who also brought us yet another shitcoin called Freicoin is now telling us that no actual solutions will be provided because no actual agreements will be allowed - and this invite-only no-industry no-solutions / no-agreements non-event will be manually transcribed by some guy named u/kanzure who hates u/Peter__R (note: u/Peter__R gave us actual solutions like Bitcoin Unlimited and massive on-chain scaling via XThin) - and as usual this invite-only non-scaling no-solutions / no-agreements no-industry invite-only non-event is being paid for by some fantasy fiat finance firm AXA whose CEO is head of the Bilderberg Group which will go bankrupt if Bitcoin succeeds.**
What is the purpose of this meeting?
The "organizers" and other people involved - u/btcdrak and u/maaku7 - say that this is just a "friendly" meeting - and it is specifically forbidden for any "agreements" (or scaling solutions) to come out of this meeting.
What good is a meeting if no agreements or solutions can some out of it?
Good question!
A meeting where solutions are explicitly prohibited is actually perfect for Blockstream's goals - because currently the status quo "max blocksize" is 1 MB, and they want to keep it that way.
So, they want to leverage the "inertia" to maintain the status quo - while pretending to do something, and getting friendly with the miners (and possibly making them other "offers" or "inducements").
So this meeting is just another stalling tactic, like all the previous ones.
Only now, after the community has seen this over and over, Blockstream has finally had to publicly admit that it is specifically forbidden for any "agreements" (or scaling solutions) to come out of this meeting - which makes it very obvious to everyone that this whole meeting is just an empty gesture.
So, why is this never-ending shit-show still going on?
Mainly due to inertia on the part of many users, and dishonesty on the part of Core/Blockstream devs.
Currently there is a vocal group of 57 devs and wannabe devs who are associated with Core/Blockstream - who refuse to remove the obsolete, temporary anti-spam measure (or "kludge") which historically restricted Bitcoin throughput to a 1 MB "max blocksize".
Somehow (via a combination of media manipulation, domain squatting, censorship, staged international Bitcoin stalling "scaling" meetings and congresses, fraudulent non-agreements, and other dishonest pressure tactics) they've managed to convince everyone that they can somehow dictate to everyone else how Bitcoin governance should be done.
vampireban wants you to believe that "a lot of people voted" and "there is consensus" for Core's "roadmap". But he really means only 57 people voted. And most of them aren't devs and/or don't understand markets. Satoshi designed Bitcoin for the economic majority to vote - not just 57 people.
https://np.reddit.com/btc/comments/4ecx69/uvampireban_wants_you_to_believe_that_a_lot_of/
Meanwhile, pretty much everyone else in Bitcoin - ie, everyone who's not involved with Blockstream - knows that Bitcoin can and should have bigger blocks by now, to enable increased adoption, volume, and price, as shown by the following points:
(1) Most miners, and investors, and Satoshi himself, all expected Bitcoin to have much bigger blocks by now - but these facts are censored on most of the media controlled by Core/Blockstream-associated devs and their friends:
Satoshi Nakamoto, October 04, 2010, 07:48:40 PM "It can be phased in, like: if (blocknumber > 115000) maxblocksize = largerlimit / It can start being in versions way ahead, so by the time it reaches that block number and goes into effect, the older versions that don't have it are already obsolete."
https://np.reddit.com/btc/comments/3wo9pb/satoshi_nakamoto_october_04_2010_074840_pm_it_can/
The moderators of r\bitcoin have now removed a post which was just quotes by Satoshi Nakamoto.
https://np.reddit.com/btc/comments/49l4uh/the_moderators_of_rbitcoin_have_now_removed_a/
(2) Research has repeatedly shown that 4 MB blocks would work fine with people's existing hardware and bandwidth - such as the Cornell study, plus empirical studies in the field done by jtoomim:
https://np.reddit.com/btc+bitcoin/search?q=cornell+4+mb&restrict_sr=on&sort=relevance&t=all
(3) Even leading Bitcoin figures such as Blockstream CTO Greg Maxwell u/nullc and r\bitcoin censor moderator u/theymos have publicly stated that 2 MB blocks would work fine (in their rare moments of honesty, before they somehow became corrupted):
theymos 1/31/2013: "I strongly disagree with the idea that changing the max block size is a violation of the 'Bitcoin currency guarantees'. Satoshi said that the max block size could be increased, and the max block size is never mentioned in any of the standard descriptions of the Bitcoin system"
https://np.reddit.com/btc/comments/4qopcw/utheymos_1312013_i_strongly_disagree_with_the/
"Even a year ago I said I though we could probably survive 2MB" - nullc
https://np.reddit.com/btc/comments/43mond/even_a_year_ago_i_said_i_though_we_could_probably/
Greg Maxwell used to have intelligent, nuanced opinions about "max blocksize", until he started getting paid by AXA, whose CEO is head of the Bilderberg Group - the legacy financial elite which Bitcoin aims to disintermediate. Greg always refuses to address this massive conflict of interest. Why?
https://np.reddit.com/btc/comments/4mlo0z/greg_maxwell_used_to_have_intelligent_nuanced/
So... What can we do now to stop giant financial institutions like AXA from artificially suppressing Bitcoin adoption, volume and price?
It's not as hard as it might seem - but it might (initially) be a slow process!
First of all, more and more people can simply avoid using crippled code with an artificially tiny "max blocksize" limit of 1 MB produced by teams of dishonest developers like Core/Blockstream who are getting paid off by AXA.
Other, more powerful Bitcoin code is available - such as Bitcoin Unlimited or Bitcoin Classic:
https://np.reddit.com/btc/comments/3ynoaa/announcing_bitcoin_unlimited/
https://np.reddit.com/btc/comments/4089aj/im_working_on_a_project_called_bitcoin_classic_to/
In addition, proposals for massive on-chain scaling have also been proposed, implemented, and tested - such as Xthin:
https://np.reddit.com/btc+bitcoin/search?q=xthin+author%3Apeter__r&restrict_sr=on&sort=relevance&t=all
Hasn't the market already rejected other solutions like Bitcoin Unlimited or Bitcoin Classic?
Actually, no!
If you only read r\bitcoin, you might not hear about lots of these promising new innovations - or you might hear people proclaiming that they're "dead".
But that forum r\bitcoin is not reliable, because it routinely censors any discussion of on-chain scaling for Bitcoin, eg:
The most upvoted thread right now on r\bitcoin (part 4 of 5 on Xthin), is default-sorted to show the most downvoted comments first. This shows that r\bitcoin is anti-democratic, anti-Reddit - and anti-Bitcoin.
https://np.reddit.com/btc/comments/4mwxn9/the_most_upvoted_thread_right_now_on_rbitcoin/
So, due to the combination of inertia (people tend to be lazy and cautious about upgrading their software, until they absolutely have to) and censorship, some people claim or believe that solutions like Bitcoin Unlimited or Bitcoin Classic have "already" been rejected by the community.
But actually, Bitcoin Classic and Bitcoin Unlimited are already running seamlessly on the Bitcoin network - and once they reach a certain predefined safe "activation threshold", the network will simply switch over to use them, upgrading from the artificially restrictive Bitcoin Core code:
Be patient about Classic. It's already a "success" - in the sense that it has been tested, released, and deployed, with 1/6 nodes already accepting 2MB+ blocks. Now it can quietly wait in the wings, ready to be called into action on a moment's notice. And it probably will be - in 2016 (or 2017).
https://np.reddit.com/btc/comments/44y8ut/be_patient_about_classic_its_already_a_success_in/
I think the Berlin Wall Principle will end up applying to Blockstream as well: (1) The Berlin Wall took longer than everyone expected to come tumbling down. (2) When it did finally come tumbling down, it happened faster than anyone expected (ie, in a matter of days) - and everyone was shocked.
https://np.reddit.com/btc/comments/4kxtq4/i_think_the_berlin_wall_principle_will_end_up/
So what is the actual point of this weekend's meeting between Core/Blockstream and the Chinese Miners?
It's mainly just for show, and ultimately a meaningless distraction - the result of desperation and dishonesty on the part of Core/Blockstream.
As mentioned above, real upgrades to Bitcoin like Bitcoin Classic and Bitcoin Unlimited have already been implemented and tested and are already running on the Bitcoin network - and the overall Bitcoin itself can and probably will switch over to them, regardless of any meaningless "meetings" and delaying tactics.
Is it inevitable for Bitcoin to move to bigger blocks?
Yes, for three reasons:
(1) As mentioned above, studies show that the underlying hardware and bandwidth will already easily support actual blocksizes of 2 MB, and probably 4 MB - and everyone actually agrees on this point, including die-hard supporters of tiny blocks such as Blockstream CTO Gregory Maxwell u/nullc, and r\bitcoin censor moderator u/theymos.
(2) The essential thing about a publicly held company is that it always seeks to maximize shareholder value - and, in a similar fashion, a publicly held cryptocurrency also always seeks to maximize "coinholder" value.
(3) Even if Core/Blockstream continues to refuse to budge, the cat is already out of the bag - they can't put the toothpaste of open-source code back into the tube. Some people might sell their bitcoins for other cryptocurrencies which have better scaling - but a better solution would probably be to wait for a "spinoff" to happen. A "spinoff" is a special kind of "hard fork" where the existing ledger is preserved, so your coins remain spendable on both forks, and you can trade your coins on markets, depending on which fork you prefer.
Further information on "spinoff technology" can be found here:
https://bitcointalk.org/index.php?topic=563972.0
https://duckduckgo.com/?q=site%3Abitco.in%2Fforum+spinoff&ia=web
An excellent discussion of the economic advantages of using a "spinoff" to keep the original ledger (and merely upgrade the ledger-appending software), can be found here:
https://bitcointalk.org/index.php?topic=678866.0
And today, based on new information learned from Ethereum's recent successful "hardfork split", people are already starting to talk about the specific details involved in implementing a "spinoff" or "hardfork split" for Bitcoin to support bigger blocks - eg, changing the PoW, getting exchanges to support trading on both sides of the fork, upgrading wallets, preventing replay attacks, etc:
We now know the miners aren't going to do anything. We now know that a minority fork can survive. Why are we not forking right now?
https://np.reddit.com/btc/comments/4vieve/we_now_know_the_miners_arent_going_to_do_anything/
So - whether it's via a hardfork upgrade, or a hardfork split or "spinoff" - it is probably inevitable that Bitcoin will eventually move to bigger blocks (within the underlying hardware and bandwidth constraints of course - which would currently support 2-4 MB blocksizes).
Why are bigger blocks inevitable for Bitcoin?
Because that's how markets always have and always will behave - and there's nothing that Blockstream/Core or AXA can do to stop this - no matter how many pointless stalling scaling meetings they conduct, and no matter how many non-agreements they sign and then break.
Conclusion
Endless centralized meetings and dishonest agreements are irrelevant. The only thing that matters is decentralized markets and open-source code. Users and markets decide on what code to install, and what size blocks to accept. Bitcoin adoption, volume - and price - will continue to grow, with or without the cooperation of the dishonest devs from Core/Blockstream, or misguided miners - or banksters at "fantasy fiat" financial firms like JPMorgan or AXA.
submitted by ydtm to btc [link] [comments]

✅ BITCOIN HALVING 2020 DONE ✅ Bitcoins Next Move? What is the block reward in Bitcoin and why is the reward so big? Block Reward Halving to Bring $3,000 Per Bitcoin?! - Trace Mayer Interview Blockchain tutorial 24: Blockchain and miners Bitcoin's Halving in 2020 - Will It Spark the Next Bitcoin Bull Run?

Roger Ver's mining pool Bitcoin.com has decided to not support a proposal that aims to redirect 12.5% of Bitcoin Cash block rewards to a development fund.The post Bitcoin.com withdraws from Bitcoin Cash proposal to divert part of block rewards to dev fund appeared first on The Block. Bitcoin halved on May 11, 2020, around 3 pm est. A Bitcoin halving event is when the reward for mining Bitcoin transactions is cut in half. This event also cuts in half Bitcoin's inflation rate ... Ethereum's block reward does not halve like Bitcoin's, so there is no countdown. What is the Bitcoin Clock? The Bitcoin clock has been around since 2011. In 2018, the owner let the domain expire. We revamped the site and restored it to its original vision. Is the Halving Necessary? The halving is necessary. This is how Bitcoin controls its supply. Once the block subsidy expires, transaction ... Bitcoin mining has long ceased to be profitable for the majority of hobbyist miners. So when the upcoming halving in May 2020 slashes the block reward in half, will that spell the end even for ... Digital money that’s instant, private, and free from bank fees. Download our official wallet app and start using Bitcoin today. Read news, start mining, and buy BTC or BCH.

[index] [30872] [31686] [45977] [20740] [5783] [9792] [17300] [16200] [43619] [51205]

✅ BITCOIN HALVING 2020 DONE ✅ Bitcoins Next Move?

In six weeks the number of Bitcoins produced with each new block will be reduced to six and a quarter. This reward halving has long been predicted to put upward pressure on the price. SPONSORED BY ... 19:50 Block Reward Halvening; What this means for Price, etc. 23:00 $2,500 Bitcoin Soon? Price Always Spikes when Supply Disruption Happen in Bitcoin 29:00 Where to Get More from Trace & His Final ... - Bitcoin's halving effect on Bitcoin mining block reward - Halving and Bitcoin's circulating supply - How supply relates to price - Mining incentives may change - Bitcoin historical halvings and ... Bitcoin is about to experience its third block reward halving, reducing the BTC created each block from 12.5 to 6.25! Halving will forever change Bitcoin mining and reduce its mining profitability ... Learn more about Blockchain, how Bitcoin mining works and how the system rewards the miners on the Blocklogy App. Download: https://play.google.com/store/app...

#