Monero GUI and CLI mnemonic backups appreciation time
Recently I was researching a little bit about how mnemonic backups work, and found this great explanation for Bitcoin's case, which also looks like a nightmare scenario, since long story short: Bitcoin Core doesn't support mnemonics and basically you are stuck with storing your wallet.dat binary, hoping for not losing it or it getting corrupted. By contrast, both Monero Core wallets (GUI and CLI) support mnemonic backups and are compatible between each other (I just tested this to be sure, and was delighted to find this true, plus seeing how slicker the GUI looks now after quite some time without trying it out). Yeah, you could use Electrum or some other wallet for mnemonic backups in Bitcoin, but it is just not the same level of security as using a Core wallet. So I just wanted to take some time to highlight how much I appreciate this Monero feature. What do you think? Am I hyping Monero's native mnemonic backups too much because I'm missing something? Or do you also think that this feature is underrated? Edit: Just fixed the link format.
New England New England 6 States Songs: https://www.reddit.com/newengland/comments/er8wxd/new_england_6_states_songs/ NewEnglandcoin Symbol: NENG NewEnglandcoin is a clone of Bitcoin using scrypt as a proof-of-work algorithm with enhanced features to protect against 51% attack and decentralize on mining to allow diversified mining rigs across CPUs, GPUs, ASICs and Android phones. Mining Algorithm: Scrypt with RandomSpike. RandomSpike is 3rd generation of Dynamic Difficulty (DynDiff) algorithm on top of scrypt. 1 minute block targets base difficulty reset: every 1440 blocks subsidy halves in 2.1m blocks (~ 2 to 4 years) 84,000,000,000 total maximum NENG 20000 NENG per block Pre-mine: 1% - reserved for dev fund ICO: None RPCPort: 6376 Port: 6377 NewEnglandcoin has dogecoin like supply at 84 billion maximum NENG. This huge supply insures that NENG is suitable for retail transactions and daily use. The inflation schedule of NengEnglandcoin is actually identical to that of Litecoin. Bitcoin and Litecoin are already proven to be great long term store of value. The Litecoin-like NENG inflation schedule will make NewEnglandcoin ideal for long term investment appreciation as the supply is limited and capped at a fixed number Bitcoin Fork - Suitable for Home Hobbyists NewEnglandcoin core wallet continues to maintain version tag of "Satoshi v0.8.7.5" because NewEnglandcoin is very much an exact clone of bitcoin plus some mining feature changes with DynDiff algorithm. NewEnglandcoin is very suitable as lite version of bitcoin for educational purpose on desktop mining, full node running and bitcoin programming using bitcoin-json APIs. The NewEnglandcoin (NENG) mining algorithm original upgrade ideas were mainly designed for decentralization of mining rigs on scrypt, which is same algo as litecoin/dogecoin. The way it is going now is that NENG is very suitable for bitcoin/litecoin/dogecoin hobbyists who can not , will not spend huge money to run noisy ASIC/GPU mining equipments, but still want to mine NENG at home with quiet simple CPU/GPU or with a cheap ASIC like FutureBit Moonlander 2 USB or Apollo pod on solo mining setup to obtain very decent profitable results. NENG allows bitcoin litecoin hobbyists to experience full node running, solo mining, CPU/GPU/ASIC for a fun experience at home at cheap cost without breaking bank on equipment or electricity. MIT Free Course - 23 lectures about Bitcoin, Blockchain and Finance (Fall,2018) https://www.youtube.com/playlist?list=PLUl4u3cNGP63UUkfL0onkxF6MYgVa04Fn CPU Minable Coin Because of dynamic difficulty algorithm on top of scrypt, NewEnglandcoin is CPU Minable. Users can easily set up full node for mining at Home PC or Mac using our dedicated cheetah software. Research on the first forked 50 blocks on v1.2.0 core confirmed that ASIC/GPU miners mined 66% of 50 blocks, CPU miners mined the remaining 34%. NENG v1.4.0 release enabled CPU mining inside android phones. Youtube Video Tutorial How to CPU Mine NewEnglandcoin (NENG) in Windows 10 Part 1 https://www.youtube.com/watch?v=sdOoPvAjzlE How to CPU Mine NewEnglandcoin (NENG) in Windows 10 Part 2 https://www.youtube.com/watch?v=nHnRJvJRzZg How to CPU Mine NewEnglandcoin (NENG) in macOS https://www.youtube.com/watch?v=Zj7NLMeNSOQ Decentralization and Community Driven NewEnglandcoin is a decentralized coin just like bitcoin. There is no boss on NewEnglandcoin. Nobody nor the dev owns NENG. We know a coin is worth nothing if there is no backing from community. Therefore, we as dev do not intend to make decision on this coin solely by ourselves. It is our expectation that NewEnglandcoin community will make majority of decisions on direction of this coin from now on. We as dev merely view our-self as coin creater and technical support of this coin while providing NENG a permanent home at ShorelineCrypto Exchange. Twitter Airdrop Follow NENG twitter and receive 100,000 NENG on Twitter Airdrop to up to 1000 winners Graphic Redesign Bounty Top one award: 90.9 million NENG Top 10 Winners: 500,000 NENG / person Event Timing: March 25, 2019 - Present Event Address: NewEnglandcoin DISCORD at: https://discord.gg/UPeBwgs Please complete above Twitter Bounty requirement first. Then follow Below Steps to qualify for the Bounty: (1) Required: submit your own designed NENG logo picture in gif, png jpg or any other common graphic file format into DISCORD "bounty-submission" board (2) Optional: submit a second graphic for logo or any other marketing purposes into "bounty-submission" board. (3) Complete below form. Please limit your submission to no more than two total. Delete any wrongly submitted or undesired graphics in the board. Contact DISCORD u/honglu69#5911 or u/krypton#6139 if you have any issues. Twitter Airdrop/Graphic Redesign bounty sign up: https://goo.gl/forms/L0vcwmVi8c76cR7m1 Milestones
Sep 3, 2018 - Genesis block was mined, NewEnglandcoin created
Sep 8, 2018 - github source uploaded, Window wallet development work started
Sep 11,2018 - Window Qt Graphic wallet completed
Sep 12,2018 - NewEnglandcoin Launched in both Bitcointalk forum and Marinecoin forum
Sep 14,2018 - NewEnglandcoin is listed at ShorelineCrypto Exchange
Sep 17,2018 - Block Explorer is up
Nov 23,2018 - New Source/Wallet Release v1.1.1 - Enabled Dynamic Addjustment on Mining Hashing Difficulty
Nov 28,2018 - NewEnglandcoin became CPU minable coin
Nov 30,2018 - First Retail Real Life usage for NewEnglandcoin Announced
Dec 28,2018 - Cheetah_Cpuminer under Linux is released
Dec 31,2018 - NENG Technical Whitepaper is released
Jan 2,2019 - Cheetah_Cpuminer under Windows is released
Jan 12,2019 - NENG v1.1.2 is released to support MacOS GUI CLI Wallet
Jan 13,2019 - Cheetah_CpuMiner under Mac is released
Feb 11,2019 - NewEnglandcoin v1.2.0 Released, Anti-51% Attack, Anti-instant Mining after Hard Fork
Mar 16,2019 - NewEnglandcoin v22.214.171.124 Released - Ubuntu 18.04 Wallet Binary Files
Apr 7, 2019 - NENG Report on Security, Decentralization, Valuation
Apr 21, 2019 - NENG Fiat Project is Launched by ShorelineCrypto
Sep 1, 2019 - Shoreline Tradingbot project is Launched by ShorelineCrypto
Dec 19, 2019 - Shoreline Tradingbot v1.0 is Released by ShorelineCrypto
Jan 30, 2020 - Scrypt RandomSpike - NENG v1.3.0 Hardfork Proposed
Feb 24, 2020 - Scrypt RandomSpike - NENG core v1.3.0 Released
Jun 19, 2020 - Linux scripts for Futurebit Moonlander2 USB ASIC on solo mining Released
Jul 15, 2020 - NENG v1.4.0 Released for Android Mining and Ubuntu 20.04 support
Jul 21, 2020 - NENG v126.96.36.199 Released for MacOS Wallet Upgrade with Catalina
Jul 30, 2020 - NENG v188.8.131.52 Released for Linux Wallet Upgrade with 8 Distros
Aug 11, 2020 - NENG v184.108.40.206 Released for Android arm64 Upgrade, Chromebook Support
Aug 30, 2020 - NENG v220.127.116.11 Released for Android/Chromebook with armhf, better hardware support
2018 Q3 - Birth of NewEnglandcoin, window/linux wallet - Done
2018 Q4 - Decentralization Phase I
Blockchain Upgrade - Dynamic hashing algorithm I - Done
Cheetah Version I- CPU Mining Automation Tool on Linux - Done
2019 Q1 - Decentralization Phase II
Cheetah Version II- CPU Mining Automation Tool on Window/Linux - Done
Blockchain Upgrade Dynamic hashing algorithm II - Done
2019 Q2 - Fiat Phase I
Assessment of Risk of 51% Attack on NENG - done
Launch of Fiat USD/NENG offering for U.S. residents - done
Initiation of Mobile Miner Project - Done
2019 Q3 - Shoreline Tradingbot, Mobile Project
Evaluation and planning of Mobile Miner Project - on Hold
Initiation of Trading Bot Project - Done
2019 Q4 - Shoreline Tradingbot
Shoreline tradingbot Release v1.0 - Done
2020 Q1 - Evaluate NENG core, Mobile Wallet Phase I
NENG core Decentralization Security Evaluation for v1.3.x - Done
Light Mobile Wallet Project Initiation, Evaluation
2020 Q2 - NENG Core, Mobile Wallet Phase II
NENG core Decentralization Security Hardfork on v1.3.x - Scrypt RandomSpike
Light Mobile Wallet Project Design, Coding
2020 Q3 - NENG core, NENG Mobile Wallet Phase II
Review on results of v1.3.x, NENG core Dev Decision on v1.4.x, Hardfork If needed
Light Mobile Wallet Project testing, alpha Release
2020 Q4 - Mobile Wallet Phase III
Light Mobile Wallet Project Beta Release
Light Mobile Wallet Server Deployment Evaluation and Decision
Hal Finney, while paralyzed by ALS, wrote code for a bitcoin wallet using only his eyes
It's important to remember Bitcoin's roots, and the amazing effort from brilliant people, like Hal, who contributed to this new technology. If you're feeling down, this is an absolute must read. I have it saved, and read it every once in awhile, enjoy.
"And of course the price gyrations of bitcoins are entertaining to me. I have skin in the game. But I came by my bitcoins through luck, with little credit to me. I lived through the crash of 2011. So I've seen it before. Easy come, easy go." - Hal Finney, March 19, 2013, 08:40:02 PM
Bitcoin and me (Hal Finney) Copied from https://bitcointalk.org/index.php?topic=155054.0 I thought I'd write about the last four years, an eventful time for Bitcoin and me. For those who don't know me, I'm Hal Finney. I got my start in crypto working on an early version of PGP, working closely with Phil Zimmermann. When Phil decided to start PGP Corporation, I was one of the first hires. I would work on PGP until my retirement. At the same time, I got involved with the Cypherpunks. I ran the first cryptographically based anonymous remailer, among other activities. Fast forward to late 2008 and the announcement of Bitcoin. I've noticed that cryptographic graybeards (I was in my mid 50's) tend to get cynical. I was more idealistic; I have always loved crypto, the mystery and the paradox of it. When Satoshi announced Bitcoin on the cryptography mailing list, he got a skeptical reception at best. Cryptographers have seen too many grand schemes by clueless noobs. They tend to have a knee jerk reaction. I was more positive. I had long been interested in cryptographic payment schemes. Plus I was lucky enough to meet and extensively correspond with both Wei Dai and Nick Szabo, generally acknowledged to have created ideas that would be realized with Bitcoin. I had made an attempt to create my own proof of work based currency, called RPOW. So I found Bitcoin facinating. When Satoshi announced the first release of the software, I grabbed it right away. I think I was the first person besides Satoshi to run bitcoin. I mined block 70-something, and I was the recipient of the first bitcoin transaction, when Satoshi sent ten coins to me as a test. I carried on an email conversation with Satoshi over the next few days, mostly me reporting bugs and him fixing them. Today, Satoshi's true identity has become a mystery. But at the time, I thought I was dealing with a young man of Japanese ancestry who was very smart and sincere. I've had the good fortune to know many brilliant people over the course of my life, so I recognize the signs. After a few days, bitcoin was running pretty stably, so I left it running. Those were the days when difficulty was 1, and you could find blocks with a CPU, not even a GPU. I mined several blocks over the next days. But I turned it off because it made my computer run hot, and the fan noise bothered me. In retrospect, I wish I had kept it up longer, but on the other hand I was extraordinarily lucky to be there at the beginning. It's one of those glass half full half empty things. The next I heard of Bitcoin was late 2010, when I was surprised to find that it was not only still going, bitcoins actually had monetary value. I dusted off my old wallet, and was relieved to discover that my bitcoins were still there. As the price climbed up to real money, I transferred the coins into an offline wallet, where hopefully they'll be worth something to my heirs. Speaking of heirs, I got a surprise in 2009, when I was suddenly diagnosed with a fatal disease. I was in the best shape of my life at the start of that year, I'd lost a lot of weight and taken up distance running. I'd run several half marathons, and I was starting to train for a full marathon. I worked my way up to 20+ mile runs, and I thought I was all set. That's when everything went wrong. My body began to fail. I slurred my speech, lost strength in my hands, and my legs were slow to recover. In August, 2009, I was given the diagnosis of ALS, also called Lou Gehrig's disease, after the famous baseball player who got it. ALS is a disease that kills moter neurons, which carry signals from the brain to the muscles. It causes first weakness, then gradually increasing paralysis. It is usually fatal in 2 to 5 years. My symptoms were mild at first and I continued to work, but fatigue and voice problems forced me to retire in early 2011. Since then the disease has continued its inexorable progression. Today, I am essentially paralyzed. I am fed through a tube, and my breathing is assisted through another tube. I operate the computer using a commercial eyetracker system. It also has a speech synthesizer, so this is my voice now. I spend all day in my power wheelchair. I worked up an interface using an arduino so that I can adjust my wheelchair's position using my eyes. It has been an adjustment, but my life is not too bad. I can still read, listen to music, and watch TV and movies. I recently discovered that I can even write code. It's very slow, probably 50 times slower than I was before. But I still love programming and it gives me goals. Currently I'm working on something Mike Hearn suggested, using the security features of modern processors, designed to support "Trusted Computing", to harden Bitcoin wallets. It's almost ready to release. I just have to do the documentation. And of course the price gyrations of bitcoins are entertaining to me. I have skin in the game. But I came by my bitcoins through luck, with little credit to me. I lived through the crash of 2011. So I've seen it before. Easy come, easy go. That's my story. I'm pretty lucky overall. Even with the ALS, my life is very satisfying. But my life expectancy is limited. Those discussions about inheriting your bitcoins are of more than academic interest. My bitcoins are stored in our safe deposit box, and my son and daughter are tech savvy. I think they're safe enough. I'm comfortable with my legacy. [edited slightly] - Hal Finney
Constructing an Opt-In alternative reward for securing the blockchain
Since a keyboard with a monero logo got upvoted to the top I realized I should post various thoughts I have and generate some discussion. I hope others do the same. Monero is currently secured by a dwindling block reward. There is a chance that the tail emission reward + transaction fees to secure the blockchain could become insufficient and allow for a scenario where it is profitable for someone to execute a 51% attack. To understand this issue better, read this:
In Game Theory, Tragedy of the Commons is a market failure scenario where a common good is produced in lower quantities than the public desires, or consumed in greater quantities than desired. One example is pollution - it is in the public's best interest not to pollute, but every individual has incentive to pollute (e.g. because burning fossil fuel is cheap, and individually each consumer doesn't affect the environment much). The relevance to Bitcoin is a hypothetical market failure that might happen in the far future when the block reward from mining drops near zero. In the current Bitcoin design, the only fees miners earn at this time are Transaction fees. Miners will accept transactions with any fees (because the marginal cost of including them is minimal) and users will pay lower and lower fees (in the order of satoshis). It is possible that the honest miners will be under-incentivized, and that too few miners will mine, resulting in lower difficulty than what the public desires. This might mean various 51% attacks will happen frequently, and the Bitcoin will not function correctly. The Bitcoin protocol can be altered to combat this problem - one proposed solution is Dominant Assurance Contracts. Another more radical proposal (in the sense that the required change won't be accepted by most bitcoiners) is to have a perpetual reward that is constant in proportion to the monetary base. That can be achieved in two ways. An ever increasing reward (inflatacoin/expocoin) or a constant reward plus a demurrage fee in all funds that caps the monetary base (freicoin). This scenario was discussed on several threads: - Tragedy of the Commons - Disturbingly low future difficulty equilibrium https://bitcointalk.org/index.php?topic=6284.0 - Stack Exchange http://bitcoin.stackexchange.com/questions/3111/will-bitcoin-suffer-from-a-mining-tragedy-of-the-commons-when-mining-fees-drop-t Currently there is no consensus whether this problem is real, and if so, what is the best solution.
Dominant assurance contracts Dominant assurance contracts, created by Alex Tabarrok, involve an extra component, an entrepreneur who profits when the quorum is reached and pays the signors extra if it is not. If the quorum is not formed, the signors do not pay their share and indeed actively profit from having participated since they keep the money the entrepreneur paid them. Conversely, if the quorum succeeds, the entrepreneur is compensated for taking the risk of the quorum failing. Thus, a player will benefit whether or not the quorum succeeds; if it fails he reaps a monetary return, and if it succeeds, he pays only a small amount more than under an assurance contract, and the public good will be provided. Tabarrok asserts that this creates a dominant strategy) of participation for all players. Because all players will calculate that it is in their best interests to participate, the contract will succeed, and the entrepreneur will be rewarded. In a meta-game, this reward is an incentive for other entrepreneurs to enter the DAC market, driving down the cost disadvantage of dominant assurance contract versus regular assurance contracts.
Monero doesn't have a lot of scripting options to work with currently so it is very hard for me to understand how one might go about creating a Dominant Assurance Contract using Monero, especially in regards to paying out to a miner address. This is how it could work in Bitcoin:
https://en.bitcoin.it/wiki/Dominant_Assurance_Contracts This scheme is an attempt at Mike Hearn's exercise for the reader: an implementation of dominant assurance contracts. The scheme requires the use of multisignature transactions, nLockTime and transaction replacement which means it won't work until these features are available on the Bitcoin network. A vendor agrees to produce a good if X BTC are raised by date D and to pay Y BTC to each of n contributors if X BTC are not raised by date D, or to pay nY BTC if X BTC are raised and the vendor fails to produce the good to the satisfaction of 2 of 3 independent arbitrators picked through a fair process The arbitrators specify a 2-of-3 multisignature script to use as an output for the fundraiser with a public key from each arbitrator, which will allow them to judge the performance on actually producing the good For each contributor: The vendor and the contributor exchange public keys They create a 2-of-2 multisignature output from those public keys With no change, they create but do not sign a transaction with an input of X/n BTC from the contributor and an input of Y BTC from the vendor, with X/n+Y going to the output created in 3.2 The contributor creates a transaction where the output is X+nY to the address created in step 2 and the input is the output of the transaction in 3.3, signs it using SIGHASH_ALL | SIGHASH_ANYONECANPAY, with version = UINT_MAX and gives it to the vendor The vendor creates a transaction of the entire balance of the transaction in 3.3 to the contributor with nLockTime of D and version < UINT_MAX, signs it and gives it to the contributor The vendor and contributor then both sign the transaction in 3.3 and broadcast it to the network, making the transaction in 3.4 valid when enough contributors participate and the transaction in 3.5 valid when nLockTime expires As date D nears, nLockTime comes close to expiration. If enough (n) people contribute, all of the inputs from 3.4 can combine to make the output valid when signed by the vendor, creating a valid transaction sending that money to the arbitrators, which only agree to release the funds when the vendor produces a satisfactory output If not enough people ( Note that there is a limit at which it can be more profitable for the vendor to make the remaining contributions when D approaches Now the arbitrators have control of X (the payment from the contributors) + nY (the performance bond from the vendor) BTC and pay the vendor only when the vendor performs satisfactorily Such contracts can be used for crowdfunding. Notable examples from Mike Hearn include: Funding Internet radio stations which don't want to play ads: donations are the only viable revenue source as pay-for-streaming models allow undercutting by subscribers who relay the stream to their own subscribers Automatically contributing to the human translation of web pages
Monero has these features:
LockTime (but it is much different then BTCs)
A possibility to do MoJoin (CoinJoin) like transactions, even if less then optimally private. There is hope that the MoJoin Schemes will allow for better privacy in the future:
I have a draft writeup for a merged-input system called MoJoin that allows multiple parties to generate a single transaction. The goal is to complete the transaction merging with no trust in any party, but this introduces significant complexity and may not be possible with the known Bulletproofs multiparty computation scheme. My current version of MoJoin assumes partial trust in a dealer, who learns the mappings between input rings and outputs (but not true spends or Pedersen commitment data).
Weekly Update: Welcome HYDRO to ParJar, Parachute newsletter signup, MatchBX Gigs, Wysker Series and Continuous Wyskering... - 22 Mar - 28 Mar'19
Good day everyone! Here’s another update for the whirlwind week we had at Parachute and Parachute/ParJar partners. IRL work keeps me from churning these out on time. Working on catching up quickly to try to post future weekly updates faster: A cool new community started to interact with ParJar this week. HYDRO was added to ParJar and ParJar added to the Hydro group. Fantom did a shoutout and CoinPedia also tweeted about ParJar. Thank you guys! Which makes me think, if this shoutout of the shoutout to our original shoutout is shoutouted by Fantom again, would it be a shoutoutception? Hmm. Also, we had our quirkiest game in ParJar yet. Parachuters had to use this site to find the most bizarre item. Best ones would win some cool PAR. Haha! The top picks were from Patri cko, Cryptovan and Clinton. New Wonders of the World circa 2019 There’s a new email signup link for folks new to Parachute. If you’re not receiving Cap’s emails, you can sign up there. Close to USD 600 has already been raised for the Charity Parena. Woot! To get in, make a small donation (min USD 5 or crypto equivalent directly and let Jason know or tip Clinton through ParJar) and get a chance to win a 1-of-a-kind shirt from the Parachute Shop! Plus, kiddie gear is now available in the Parachute Shop. All profits from the shop go to charity. Games Master Jason turned 34 this week. Belated Happy Birthday to ya Florida Man! We had uber fun with an accidental Cap discovery this week. Add your favorite number at the end of the following link to jump to any chat in the group. For example the following link takes you to the first ever message in Parachute. Awesome! Three Good Bois are counting on you to sign up for the Parachute newsletter The 2gether card was launched on 27th March for use across the Eurozone. The presale event is now listed on ICObench. Make sure to check out the BCT ANN. Admins on their TG are rewarding members with 2GB who make thoughtful posts there. 2gether has an opening for a Java Software Engineer. Have a look at their job listing and apply if you have what it takes! Spanish speakers are in for a treat this week: Cointelegraph discussed about the company in a write-up, founder Salvador’s article on the zero marginal cost concept was featured in a UNIR publication and CEO Ramon’s interview during a Madrid Stock Exchange visit also came out. The 2GT token will be issued as a Virtual Financial Asset (VFA) in Malta. Read more about it here. 2gether is the only one with a regulated token Still figuring out how to deploy your trading algo to your Binance account? Here’s a detailed look on how to set up your API keys and deploying a strategy to live markets on Binance using the Cryzen Code Studio. Also, belated birthday wishes to Shuvro. Hope you had a great one! Folks who haven’t subscribed to the Cryzen YouTube yet, subscribe now. They now have a custom handle. Community member Jonny did a little Cryzen shoutout towards the end of his detailed Crypto Asset Prediction Series. This week’s Saturday Rock Wars at PurpleCoin was for the best guitarist of all time. Jimi Hendrix won the public vote by a whopping margin. BOMB token is looking for ambassadors who can bring “liquidity, awareness, and education to the project”. Learn more about it here. Checked out Wysker Series yet? These are listicles of bundled relevant content aimed at user growth. Design geeks will find it fascinating. Plus, the app will see a new feature soon called Continuous Wyskering. Jonathan says: “After finishing one story, users will no longer have to go back to the home screen to discover new stories. Instead, the next story in line can be accessed with a simple swipe.” Neat! And finally, Birdchain has partnered with Blocklads to bring educational content to the app's learn tab. Look out for new content in that section! Shuvro’s ETC bot showing decent gainz Gigs are now live on MatchBX. Freelancers can create listings for their services directly and job posters can directly hire freelancers from there. Win win! If you’re not sure of what MatchBX is, read up on it here. Plus, the weekly AXPR burn went on as scheduled. Bounty0x crossed 500k+ monthly page views this week with a ~30% return visitor rate. If you’ve participated in a Cures Token bounty on Bounty0x, this article is super relevant. Also, KABN partnered with Bounty0x this week for running promotional bounties for their token offering. The ETHOS token is now listed on the ChangeNOW exchange. Much has been said about the Voyager-ETHOS deal so far. Shingo explains in this article why the partnership will be “setting new standards of transparency”. District0x’s weekly update covers a range of topics including Brady’s interview with A Garden of Crypto on all things District0x. AXPR tokenomics Altcoin Buzz featured Opacity this week and talked about their current development roadmap which includes the 1.0 site launch (which was also this week). Check out opacity.io for a look and feel of what’s in store for May. Badcredit wrote about Horizon State with a detailed piece. The Minister’s Recreational Fishing Advisory Council was announced this week as well. “The voting process has been transparent and historic - for the first time in South Australian Government history, Blockchain technology was used for the voting process." Big up to Horizon State for becoming a part of history! And finally, they closed off the week with a bang by getting listed on CoinExchange.io. John McAfee talks about Switch around the 11 minute mark in this interview with Satoshi Sean. Blockport was the centrepiece of this Coinvision article that explains the ins and outs of both the exchange as well as the BPT/BPS tokens. The Blockport STO is set for April 15th with more details in this post. If you’re interested and live in the EU or the US, the whitelist procedure is explained here. And finally, onto some Fantom news. Coinspeaker elaborates what the myriad partnerships mean for Fantom in this article. Like last week, Fantom capped off this week too with another exchange listing – ChainX. Boom! Thank you for taking the time. See you soon with another weekly update. Cheerio!
I wanted to share some of the reasons why I invested in Monero. I did a lot of due diligence and have been following Monero since 2013 or 2014 somewhere around that time back when smooth and all them were on bitcointalk. Here is the thesis I came up with. I do not trade any other coins besides BTC and XMR, so I will only discuss this ratio. Lightning Network changes economics of cryptocurrency – I like to think of Bitcoin as currently the king in crypto space. Lightning Network is probably one of the biggest infrastructure developments in the cryptocurrency industry. People will be able to effortlessly and cheaply swap between different coins, and this is actually not a good thing for Bitcoin. Scarcity is big part of why people are interested in cryptocurrency, a digital gold, but Lightning Network challenges the features a good coin will have. Lightning Network is not limited to Bitcoin only, it’s more like a ecosystem infrastructure for many different coins to interoperate. Bitcoin has scarcity, purchasing power, liquidity, and security, but so does Monero. Although, Monero offers things Bitcoin doesn’t, like fungibility, a adaptive blocksize, and privacy. So consider this, if Lightning Network allows you to get into whatever coin you want through atomic swaps, it makes more sense to hold your wealth in a truly fungible currency and swap to Bitcoin when you need it. Monero has scarcity, and one can argue a longer-term vision through constant inflation. It has roughly the same amount of coins as Bitcoin and offers the same utility if not more. So the fact that Lightning Network allows cryptocurrency users to swap in and out of different coins so easily introduces the need for a solid base currency which is truly fungible. Monero’s blockchain is secure, decentralized, fungible, has scarcity of tokens, and is private. It provides all the utility that Bitcoin does, plus more. Although, I have heard arguments that Lightning Network is difficult to implement for Monero, but I am sure developers will be able to figure out a way to make it work. Bitcoin’s problems – We are probably at the beginning of this, but it won’t be long until miners become regulated to start whitelisting or blacklisting certain transactions. Blockchain analysis companies are becoming increasingly powerful, working with governments and etc. There is not anything wrong with law enforcement, but coin taint introduces a liability to accept/decline certain coins. Monero eliminates that burden for all users. Consider this, you are a crypto trader, and doing trades OTC. You sell your crypto for something like BTC or any other transparent coin. What if the coins you receive are marked as tainted? And you can’t spend them? You can literally lose all your purchasing power because nobody wants to accept your coins because they will have the same trouble spending them. Yes, Bitcoin is introducing things like Shnorr signatures and privacy increasing schemes, but blockchain analysis companies currently can still see when people mix their coins. Why do you think exchanges will freeze some coins and not others. The lack of fungibility can turn into a large problem for someone who is using it as a store of value. With Monero you don’t have to worry about counterparty declining your coins, whereas if you’re in a taint coin, it's harder to get into a fungible coin. Why would XMR holders sell for a coin that may be declined at merchants? From a hodl perspective, XMR actually has better incentives to hold for the investor. Almost like higher standards for what you will accept to sell your XMR. BTC/XMR Ratio – I currently think XMR is greatly undervalued to Bitcoin compared to the utility it provides. Let’s look at some numbers. Bitcoin and XMR have a very similar maximum coin supply. Supply is such a important factor in holding crypto's but alot of people don't acknowledge it much. Monero has a similar total coin supply to Bitcoin, with ongoing emission to fund miners. Compared to premined coins like Ethereum, Stellar, etc, I feel like Monero is a real true and honest coin vs the premines that initial distribution wasn't the most fair. Being around 0.02btc/xmr, I feel like Monero is really undervalued compared to Bitcoin. Granted both have similar total supply, both are decentralized, and Monero is truly fungible, you'd think it would be much higher btc/xmr price. People may argue that Bitcoin is the most accepted cryptocurrency, but it goes back to my argument of the Lightning Network that hey, you can swap into Bitcoin whenever you want, then scarcity, utility, and liquidity is the main features you're looking for. Long Term Hold – Monero to me is very much a long term hold. We haven’t seen fungibility become a major problem yet in Bitcoin, but it will definitely come. Monero has excellent developers, a great community, and great features of a cryptocurrency. Considering BTC is valued at $128b, and Monero is around $2.5b, I have no doubt that Monero’s market cap will increase in the future. Crypto is inherently a risky store of value, for many reasons, but I think Monero is just as secure to hold value in as Bitcoin.
Hi all, I hope it's not OT in this place since it's about a service that supports a lot of coins Barterlly.io was launched earlier this year as an automatic OTC escrow service. Afaik it's the only one of its kind. It supported all Bitcoin-like blockchains: BTC, BCH, DASH, ZEC, LTC, KMD, etc... plus Ethereum and Erc20. Any other unique code can be integrated too. Its purpose was to allow fast direct trades without need for an human escrow. One of the parties would setup a trade and Barterlly automatically creates on-the-fly addresses and do the swap once both sides have deposited the funds (or return them back if one side doesn't complete his part within a set time). It charged a 0,1% fee on both sides of the trade. Beside the web version, it can also be integrated with wallets, Discord, Telegram, Wechat, etc. It was all self-funded without any ICO or token but now the founders are out of financial resources to make it fully compliant, they wanted to add stablecoins and move forward but it's not possible and the website is down. The backend code works and the service was running fine until august, there are custom coin templates and API for third party integration. They're looking for a serious investor who likes its potential. They're based in France. I was one of the early backers because I liked the concept but there's nothing else I can help with Bitcointalk ANN: https://bitcointalk.org/index.php?topic=5155615 Twitter: https://twitter.com/barterlly Potential partners can join Barterlly Discord and talk with Owerache: https://discord.gg/GPUxqAx Thanks
Bitgrin - WHO I AM - introduction for new miners & investors
https://preview.redd.it/y1nyrhkmoj731.png?width=298&format=png&auto=webp&s=93a62ae0fa7614dcc538e1ace8756a0857fae63f Bitgrin is a privacy focused cryptocurrency on a protocol level based on MimbleWimble and a fork of GRIN coin. This is about freedom from censorship and the banker regime. The technology of Grin meets the economics of Bitcoin, for the worlds first - private, - scalable, - decentralized currency with sound economic model (limited supply) If you're not clear on what i mean by scalability: Bitcoin has a 240 GB blockchain. Ethereum has a 1TB blockchain. BitGrin will stay below 1GB due to the way old transactions get compressed and pruned that means i can put a full node on your phone, not just a light wallet but a true full node Bitgrin mainnet launched the 8th of February 2019 Ticker: XBG Block time: ~60s Block reward: 4.5 XBG Next Halvening: Block 2,102,400 Supply: 21,000,000 ========================================================== LINKS We dont need a central authority declaring stuff official, we need grass-roots support Website: https://bitgrin.dev/ ANN: https://bitcointalk.org/index.php?topic=5104608.0 Github: https://github.com/bitgrin/bitgrin Emission Schedule: https://bitgrin.dev/comparision-of-emission/ Latest Kingfish releases : https://github.com/bitgrin/kingfish/releases Explore : https://explorer.bitgrin.dev/ Discord : https://discord.gg/Nd5BazK Twitter : https://twitter.com/Bitgrin Reddit : https://www.reddit.com/xbg ========================================================== Purpose of MimbleWimble is that no one can see your coins or who you sent them too, while still knowing coins are valid. This is a huge deal in privacy, and we wish that Bitcoin had that from beginning. But looks like we have a 2nd chance now. Grin failed that in our eyes with horrible economics ========================================================== TEAM Our team is anonymous that won't change We've got a small team who has been in blockchain dev since around 2011 as well as application developers, good at making things user friendly. This all started because we were working on the Kingfish wallet which was a Grin wallet, and some miner software for Grin. The tech was very cool, but then this emission schedule and the attitude of the core devs made us realize their priorities wrong. So Kingfish partners joined bitgrin team. Many of us on the original team were not happy with the economic decisions. We're actually pretty active in Grin Core team chat. ========================================================== WHAT IS BITGRIN BitGrin is a store of value, designed to be easy to use Bitgrin share the same halvening schedule as BTC. Half as many rewards every 4 years. 4.5 coins per block, and then 2.25 after halving, and so on. So theres really 3 things we bring to the table
We create an economic incentive for folks to hold there coins with halvenings. This means the coin acts more as a store of value.
We create a dev fee so we don't have to be like the Grin team and beg for donations. We'll take modest salaries to keep things running clean
We are building super simple user friendly tools on top of the protocol so that in time the average user can simply pull out a phone and work with XBG coins
BitGrin makes transactions completely private, hiding the amount of coins a user owns, how many have been sent, and to whom they were sent. Transactions are blinded, which means no-one can prove that coins have been sent at all! BitGrin is private by design, even the developers don't know who is sending or receiving coins. But how does it all actually work? BitGrin is governed by the laws of mathematics, exploiting some very simple properties of addition and multiplication. Elliptic curve cryptography is at the root of what keeps BitGrin (and Bitcoin) secure. The standard is also used by countless military, banking, and even government operations. Elliptic curve cryptography is a method of utilizing a secure curve to produce privately known numbers These extremely large numbers are nearly impossible to guess, but can be proven to have been generated by someone with knowledge of their private key. Let me walk you through the process. First, a user picks a really, really, really large number. Then they multiply it with the starting point on the curve. The resulting coordinates on the curve are your public key and that really, really big number is your private key! You can now securely encrypt values utilizing your private key, and publicly share your encrypted messages along with your public key. Other users in the world can *prove* that you must have knowledge of the correct private key, without them knowing what it is. And this is the bedrock of almost all cryptography. It keeps the whole world secure! The trick here is that it's pretty easy to get the coordinates of your public key, but it's nearly impossible to discover another user's private key. A simple analogy for elliptic curve cryptography Knowing just the public key is like knowing the location of an indestructible box, with the world's most complicated lock. Without the private key, it is impossible to access it's contents. This is where, for example, Bitcoin's security model ends. BitGrin, on the other hand, goes a few steps further. BitGrin hides your even your *public* key. So now no one even knows *where* your indestructible box is. This means that no one can see how many coins you have, who you are sending coins to, or how many you have received. All of this is accomplished using just a few additional mathematical tricks. How Bitcoin transactions work To further explain, let's first talk about how Bitcoin transactions work. Lett’s say you, a Bitcoin user, want to send some funds to another user. You would announce publicly to the network your public key, the amount of coins you would like to send, and proof that demonstrates you are indeed the owner of these coins. You can see the problem here. If someone goes through the history of the blockchain, they can clearly see who you received the coins from, who you are sending them to, how many were sent, and even how many you have. You don't really want people knowing all of that information, do you? Do you share your bank statements with everyone? Of course not. Now... How can we fix this? How can we make transactions more private? How BitGrin transactions work Let's go over a BitGrin transaction... BitGrin transactions are completely different than Bitcoin transactions, You can think of them as just a blank credit card with no name, just the number, and everyone who knows this number can spend money with it. What the blockchain holds is just a list of these "cards", while obscuring the amounts in them, and who is in possession of them, or even who had contents in them prior. Let's say for example I want to send you three BitGrin. What we need to do now is prove that I own a credit card (or multiple cards) with the total of at least 3 coins. We also need to create a new card for you. One whose number is only known by you. First, I send you a message via a secure channel in between our wallets. "Hey, I want to send you 3 coins. Here's proof I own at least 3. I'll also pay the fee." You receive the message and you can compute your part of what it takes to make a new card. Then you send me back the proof that you know the new credit card number, while not revealing the number to me, by using a special type of encryption. Next, you send me a very very big number you choose to obscure the amount of coins by moving them by this amount on the elliptical curve. Then, add to it a public key of the credit card number, made with another operation on the graph. This will prove you own the coins, without either user revealing their private keys. Finally, I add the number of coins to the very big number you chose. We can prove the number of coins didn't change because 5-5 is 0. This is validated by the network to prevent coins from being created out of thin air. And 5 plus the BigNumber, minus 5 plus the BigNumber, is also zero. By adding a hidden big number known only to us, we hide the amount from everyone else. I combined all these details together into one large commitment, and then submit it to the BitGrin network. Now the network needs to validate that no new coins were created and that your new card is valid. This is all done with simple mathematics, and is completely secure. You now received your money! While it may sound like a long process, all of it is done within less than 1 second from the BitGrin wallet. Want to spice things up? Generate invoices, transact using QR codes or send it by pigeons! We're not done yet. This is not all that BitGrin improves. As you may know, BitCoin transactions can take a very long time to be confirmed, and running a Bitcoin node is a very computer-intensive process. BitGrin on the other hand is both fast, and extremely scalable! The majority of spent transactions get removed, making the blockchain much smaller than traditional blockchains. This is done by miners in every block, as well as the entire blockchain over time. Soon, everyone will be able to download the entire blockchain and synchronize it within seconds or minutes, even on a low powered mobile device or a payment terminal at the local checkout. With further work and research, BitGrin will improve even more, enabling truly private, scalable digital cash to see mass adoption. ========================================================== TEAM VISION - Goal to be simple for end user Crypto is super hard to use, keeping your money private is impossible. Bitgrin solves those problems making the latest scientific breakthroughs in cryptography, usable by everyone, all while being built on robust bitcoin economics. Bitgrin paves the road to mass adoption there is a lot of confusion about what crypto is for many folks think it is a way to make money by buying new coins and selling as they mature ignoring the central idea of decentralized money. Grin folks invented a better BTC, and then proceeded to apply infinite inflation for reasons I can't explain it's decentralized, lightweight, and fast but you can't just mint 1 new coin every second, thats not sound monetary policy even USD doesnt do anything that extreme and yet the buying power of USD falls, even with their small inflation schedule and we already know a schedule that seems to work: the Bitcoin schedule so why not use this in combination with the lightweight blockchain approach of Grin? Lightning Network doesnt solve BTC problems, because settlement is important, and scale means fees. Bitgrin solves all of these problems by offering a truly lightweight settlement layer, with no arbitrary P2P layer on top __________A few words about others MW coins_____________ Grin has Grin economics: infinite coins forever which is kind of insane, Grin could have easily just limited their supply but they refuse to do that. Our key differentiator is our economically sound emission schedule Beam and BitGrin are working towards the same kind of thing, or at least our goals are more in line than they are with the Grin team. Our approaches are pretty different, from a technology perspective though. I fully expect all three projects to coexist and hopefully make each other better Being “non corporate” isn’t necessarily good. To some degree it’s useful to have profits, a core team, etc But if it’s too corporate (Beam) then your whole organization is susceptible to issues of centralization such as being shut down by the government. The decentralized nature of the software prevents that to some extent, but nothing beats being driven by a team of anonymous contributors. That is true censorship resistance. It’s a feature, not a bug. But we don’t need them to lose for us to win, we can win together, I believe a symbiotic mutually beneficial relationship is ideal with the Grin team. ========================================================== PREMINE 1M coins are put in to height-locked contracts about 20k released per month, starting next March 2018 so at launch, dev team has 0 coins 10% for 4 yrs, which amounts to 4% of total supply over time Just a reminder that the dev fee is quite modest. It’s not like we are holding 90% of the supply like ICOs like to do 1mln pub const DEV_FEE_TOTAL: u64 = 1_000_000; // 1M coins to match Satoshi's Bitcoin holdings >> line 58 https://github.com/bitgrin/bitgrin/blob/mastecore/src/consensus.rs Payouts are staggered over 4 years by the smart contract I think as far as the community goes, what you would WANT is developers who are paid for success in the same terms they would expect success as buyers/miners. ========================================================== FUTURE It took a lot of work to know what to change, and to understand GRIN codebase and then the generatioin of the genesis block wasnt documented or it was, but it was incorrect. Getting seed nodes up and running, making the miners work thousands of little details BitGrin in particular also has rollback protection Uses block hash checks to make sure the chain stays stable BitGrin in particular also has rollback protection Uses block hash checks to make sure the chain stays stable Also worth noting this is something added by us. Grin doesn’t support block hash checking It’s not possible to rewrite any meaningful amount of the chain through a 51% attack. Those attacks are quite limited in exclusively abusing double spend The team is currently working on porting the entire codebase to be web friendly for web wallets, and offline/non-interactive transactions using BitGrin addresses basically we want to include a tx pool so users dont need to share ips/files, and can simply use disposable "addresses". A major improvement with we call XBGJS. This will include tools for other devs to make working with BitGrin easier Adding non-interactive transactions will be a major improvement ========================================================== MINING It's compatible with all grin miners so any grin miner that works with Grin will also work with BitGrin ========================================================== ASICS Community will make those decisions when it comes to it, there is time till end of 2019. We can fork in to a different PoW, as needed. There are ongoing discussion about it on discord ========================================================== COMMUNITY We dont need a central authority declaring stuff official, we need grass-roots support Website: https://bitgrin.dev/ ANN: https://bitcointalk.org/index.php?topic=5104608.0 Github: https://github.com/bitgrin/bitgrin Emission Schedule: https://bitgrin.dev/comparision-of-emission/ Latest Kingfish releases : https://github.com/bitgrin/kingfish/releases Explore : https://explorer.bitgrin.dev/ Discord : https://discord.gg/Nd5BazK Twitter : https://twitter.com/Bitgrin Reddit : https://www.reddit.com/xbg ========================================================= There is no coin other than bitgrin that has true privacy, scalability, and limited supply it doesn't exist. I say the more the merrier, this is about growing MW and it’s ecosystem, not about one coin “beating” the other. But either way competition is healthy, let’s see where this road leads. Competition is needed for innovation to keep up at a high pace. Aren't you as excited about that as we are? Join us. Let's change the world !
I think too many redditors have bought into the HODL meme. I've been making great profits using two different strategies I'll expand on below. With my profits I'll take a sizeable percentage back out into fiat, and adding to my altcoins that are in my opinion great long term holds such as DRGN, ICX, JNT, HPB, BBN, TRAC, VEN, and some others while keeping some BTC on hand. Here are the two things I've been doing:
Finding low marketcap gems I'm talking around under $10m total marketcap.
Low marketcap altcoins that are either just starting out or that have upcoming price catalysts. Some example of these coins would be STK, CMPCO, XTL, BANCA. Full disclose I have bags of all of these. The reason why I suggest this is because these coins are more likely to hit those high percentage gains associated with mooning. In this current market you're not going to see BTC hit insane highs which would increase your USD value for your alts. These alts are more likely to have upcoming price catalysts that would drive the coins price up or valuation at a higher amount than coins in day the Top 50. I almost feel like I got lucky with XTL I found it around 2 sats, bought in at 3 sats then 5 sats, it recently pumped super hard hitting 28 sats back down to like 17 sats I have a buy set in at 15 sats. Of course, do your own research but that means more than just checking out their website/white paper!!! When you're researching an alt check out their announcement on Bitcointalk, read a bunch of the posts there, join the discord/telegram scope it out, and also make sure to look up some tweets about the coin as well. Of course this only works if you've already heard of a coin but how do you find them in the first place? Check out the new coins listed on CoinMarketCap, check for new coins listed on Masternodes.online, and keep up to date with the announcements section of Bitcointalk.
Inexperienced traders often are too impatient with their positions and so they'll actively trade themselves into losing positions. You can help ease this mistake by taking advantage of Proof of Stake and Proof of Work coins. I don't stake any coins actively but I operate two Masternodes, and I mine. I run a masternode for Xuma and Bitcoin Green, not only have the coins gone up in overall price since I bought into them, but my holdings have increased considerably from running my masternode as well. You can check out masternode coins on masternodes.online but I would use a lot of caution with this. There's a lot of coins out there that implement Masternodes but are blatant cash grabs. Coins often get dumped once they get listed on exchanges too so make sure look at the order book to find a price point then place a buy order there and wait until it fills. Don't start market buying cause you only need 500 more coins to meet the requirements for a masternode. Be patient. I actively mine SUMO, XTL, and some some other coin that's most likely a shitcoin not going anywhere called Dinastycoin. I only have a 970 but I'm getting sizeable rewards plus if these coins move in the direction I think they will I'll make much more in profit. If you guys have any questions PM me, and I'll try to to answer them but none of this should be taken as financial advice. I hope you fellas are handling the market conditions well don't lose your hope yet we're just getting started.
There are many coincidences involving a Mike Hearn and Satoshi Nakamoto connection. Some of you will automatically reject the notion because you dislike Mike Hearn, although here on /btc I figured you may at least entertain the idea since he isn't as hated here. I have seen Mike Hearn on the long list of “Satoshi candidates” posted on bitcointalk but I have never seen anyone explore the idea. Besides Mike being British and Satoshi using British English my first inclination to even consider Mike Hearn as being Satoshi Nakamoto was that Mike’s bitcointalk.org profile was created 1 day after Satoshi last logged in to the forum. Satoshi’s profile: https://bitcointalk.org/index.php?action=profile;u=3 Mike’s profile: https://bitcointalk.org/index.php?action=profile;u=2700 Mike’s bitcointalk presence began 1 day 53 minutes and 13 seconds after Satoshi’s bitcointalk presence ended. Almost exactly 1 day separating their profiles seemed odd to me especially considering the impact Mike had in development later on. Why would Satoshi Nakamoto hide his real identity? The people who created the precursors to Bitcoin were not anonymous. Satoshi even referenced multiple influences by name in his whitepaper like Wei Dai, Ralph Merkle, and Adam Back. So why did the person behind Satoshi feel the need to remain anonymous? There doesn’t seem to be any precedent in the small niche of people who attempted to make digital/electronic cash. A lot of people are constantly regurgitating the idea that Satoshi knew how big Bitcoin would become and that Governments or nefarious people would want to hunt him down for his bitcoin holdings or for simply inventing bitcoin. In reality, Satoshi didn’t even know if his invention would gain traction. Satoshi didn’t know he would be one of a handful of users running bitcoin in the first year which would allow him to mine as many blocks as he did. Satoshi didn’t know how much bitcoin would actually be worth. So I think the better question is why would Mike Hearn hide is identity? Mike Hearn in mid August 2006 was hired on by Google as a Site Reliability Engineer (http://web.archive.org/web/20090514053312/http://mikehearn.wordpress.com:80/2006/08/) Why would an employee of Google secretly develop something? Well, Google themselves sum it up pretty nicely here:
As part of your employment agreement, Google most likely owns intellectual property (IP) you create while at the company. Because Google’s business interests are so wide and varied, this likely applies to any personal project you have. That includes new development on personal projects you created prior to employment at Google.
From: Mike Hearn [email protected] Date: Mon, Mar 7, 2011 at 2:13 PM To: Satoshi Nakamoto [email protected] Hi Satoshi, I hope you are doing well. I finally got all the lawyers happy enough to release BitCoinJ under the Google name using the Apache 2 license: ….
Fun. Here's mine, 12th April 2009. Back then the only documentation was the white paper and hardly anyone had explored the code, so a lot of my questions were very newbie-ish. Also I capitalized Bitcoin wrong.
But Mike continued to capitalize Bitcoin as BitCoin not just in that email but until May 14, 2011. Why is that interesting? Well, every thread and post he responded to that mentioned the word bitcoin didn’t capitalize the “C” ever. It would seem like he was almost doing it on purpose to show what a noob he was to the project. Oh then he of course points out the fact that he was a newbie for capitalizing bitcoin that way. It is odd that he continued to use that spelling without regard to how everyone else was spelling it and then later direct people’s attention to the fact that he use to spell it that way early on. Also, what is odd about Mike’s involvement early on is that it doesn’t really parallel with his natural online demeanor. He is very vocal and has an involved online presence yet he just really isn’t vocal during the early stages of Bitcoin. Even his personal blog posts came to a halt in early 2009. https://web.archive.org/web/20111130084418/http://mikehearn.wordpress.com:80/ For someone who is generally very active online before Bitcoin and then after Satoshi’s disappearence, I find it peculiar that there is a dead silence period from Mike Hearn while Satoshi existed online. Mike went Facebook silent from July 23, 2007 to March 8, 2011 which also coincides with Satoshi’s existence and pre-release development of Bitcoin. https://www.facebook.com/i.am.the.real.mike?lst=662933243%3A61203304%3A1502324015 The next step in my exploration of this idea was to create a calendar of time periods where Satoshi was silent on the forums. For example, Satoshi was silent on the forum from March 24, 2010 until May 16, 2010. I am guessing this is a period when Satoshi was away from his home travelling or vacationing. I was wanting to then correspond them with known dates when Mike was on vacations or at a conference, but as I stated above MIke wasn’t very public during Satoshi’s presence. If anyone knows of any of the potential Satoshis that were vacationing, hospitalized (Hal?), or travelling during that March to May gap in 2010, it would be a good link to the real Satoshi. Hal Finney was also involved at the start only to leave and eventually return. He came back a month before Satoshi departed though. Hal was the recipient of bitcoins first transaction and helped Satoshi troubleshoot early problems [Suspicious link removed]j.com/public/resources/documents/finneynakamotoemails.pdf Their correspondence lead me to believe that Satoshi may have had either a rapport or at the least some familiarity with Hal. I decided to search Mike Hearn and Hal Finney together which turned up a nice find. Here, https://sourceforge.net/p/tboot/mailman/tboot-devel/?style=threaded&viewmonth=200807 Mike and Hal are talking about Trusted Computing back in July 2008, just months before the bitcoin whitepaper surfaced. Unfortunately I don’t quite fully understand Trusted Computing and the reason Mike Hearn was inquiring about a trusted web browser or how it would relate to Bitcoin, Quote
I'd like to launch Firefox in a protected domain and have it usable for surfing the web. My vague, poorly thought out plan was to let the user pick a photo from a library as proof of the trusted path, then show it in a tab at startup. Once you saw the personal photo, you'd know you were interacting with a copy of the browser that'd be safe to use even on a malware-riddled machine.
However, I did also find this thread from Mike Hearn which Hal Finney later resurrected about TC: https://bitcointalk.org/index.php?topic=67508.0 And even more interesting, Hal Finney later wrote in his brief memoir of bitcoin, “Bitcoin and Me”, posted on the bitcointalk forum (https://bitcointalk.org/index.php?topic=155054.0) that he was currently “working on something Mike Hearn suggested, using the security features of modern processors, designed to support "Trusted Computing", to harden Bitcoin wallets.” Was Mike Hearn originally researching a use for trusted computing in Bitcoin but never implemented it only to later pass it on to Hal FInney as a “suggestion”? Mike on Google+ posted a link to Hal’s TC project when he learned Hal passed away and linked to Hal’s post on BTCtalk (https://plus.google.com/+MikeHearn ; https://bitcointalk.org/index.php?topic=154290.0 ) So, here is Satoshi stating he started working on bitcoin in 2007 https://bitcointalk.org/index.php?topic=195.msg1617#msg1617, here Satoshi said he was done writing Bitcoin by July 2008 because that is when Google protocol buffers was made public”I looked at Google protocol buffers when they were released last year, but I had already written everything by then.” https://pastebin.com/Na5FwkQ4 and then above Mike Hearn in July 2008 is seeking guidance from Hal about trusted computing and then Hal working on trusted computing application on the suggestion of Mike for bitcoin. Ok why? Well bitcoin was already done by July 2008 when Mike was inquiring about TC and Hal was working on a TC application later, meaning that TC has some application not related to the core of bitcoin but rather to a peripheral of bitcoin and Mike may have been researching that possibility. [Super Weak] Searching for more clues about Satoshi I came across a colloquial/slang term that he used. “Hack on” was used by Satoshi in the context of “work on”. https://bitcointalk.org/index.php?topic=1034.msg13206#msg13206 I found multiple instances where Mike Hearn used the same exact term in the same context: https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-April/007779.htmlhttp://bitcoin-development.narkive.com/hczWIAby/bitcoin-development-cartographerhttps://web.archive.org/web/20170628004052/http://www.advogato.org/person/mikehearn/https://mail.gnome.org/archives/desktop-devel-list/2003-March/msg00031.html I do admit the “hack on” argument is lame evidence as it is somewhat common term. However, not everyone used it in that context (like Hal Finney didn’t) and it does add to the list of coincidences. [Warning: Extreme Reaching] Another super weak semi-coincidence is Mike Hearns birthday. Mike’s birthday is April 17th, 1984. Satoshi’s birthday was chosen as April 5th, 1975. I don’t know about you, but a lot of times when I have to enter a birthday in a service where I don’t want them knowing the truth, I usually always use my real birth month with fake day and year. [More reaching] adding 1975’s digits equal adding 1984’s digits/ 7+5=12 and 8+4=12. I know, I know... According to Mike Hearn, Satoshi “communicated with a few of the core developers before leaving. He told myself and Gavin that he had moved on to other things and that the project was in good hands.“ https://bitcointalk.org/index.php?topic=145850.msg1558053#msg1558053 This is also backed up by the new email release here: https://pastebin.com/syrmi3ET Mike- “I had a few other things on my mind (as always). One is, are you planning on rejoining the community at some point (eg for code reviews), or is your plan to permanently step back from the limelight?” Satoshi- “I've moved on to other things. It's in good hands with Gavin and everyone.” The above communication is supposedly the first time anyone heard that Satoshi was leaving for good and it was none other than Mike Hearn as the recipient. Then a few days later Satoshi told Gavin the same thing. None of these things points or alludes to Mike being Satoshi by themselves. But I do think that all these things together do paint a possible connection. Mike denied being Satoshi when I emailed him and also didn’t seem to care that I would post these things online attempting to connect him to Satoshi.
Final version 1.3.0 of the core software was released bringing all the enhancements reported last month to the rest of the community. The groundwork for SPV (simplified payment verification) is complete, another reduction of fees is being deployed, and performance stepped up once again with a 50% reduction in startup time, 20% increased sync speed and more than 3x faster peer delivery of block headers (a key update for SPV). Decrediton's integrations of SPV and Politeia are open for testing by experienced users. Read the full release notes and get the downloads on GitHub. As always, don't forget to verify signatures. dcrd: completed several steps towards multipeer downloads, improved introduction to the software in the main README, continued porting cleanups and refactoring from upstream btcd. Currently in review are initial release of smart fee estimator and a change to UTXO set semantics. The latter is a large and important change that provides simpler handling, and resolves various issues with the previous approach. A lot of testing and careful review is needed so help is welcome. Educational series for new Decred developers by @matheusd added two episodes: 02 Simnet Setup shows how to automate simnet management with tmux and 03 Miner Reward Invalidation explains block validity rules. Finally, a pull request template with a list of checks was added to help guide the contributors to dcrd. dcrwallet: bugfixes and RPC improvements to support desktop and mobile wallets. Developers are welcome to comment on this idea to derive stakepool keys from the HD wallet seed. This would eliminate the need to backup and restore redeem scripts, thus greatly improving wallet UX. (missed in July issue) Decrediton: bugfixes, refactoring to make the sync process more robust, new loading animations, design polishing. Politeia: multiple improvements to the CLI client (security conscious users with more funds at risk might prefer CLI) and security hardening. A feature to deprecate or timeout proposals was identified as necessary for initial release and the work started. A privacy enhancement to not leak metadata of ticket holders was merged. Android: update from @collins: "Second test release for dcrandroid is out. Major bugs have been fixed since last test. Latest code from SPV sync has been integrated. Once again, bug reports are welcome and issues can be opened on GitHub". Ask in #dev room for the APK to join testing. A new security page was added that allows one to validate addresses and to sign/verify messages, similar to Decrediton's Security Center. Work on translations is beginning. Overall the app is quite stable and accepting more testers. Next milestone is getting the test app on the app store. iOS: the app started accepting testers last week. @macsleven: "the test version of Decred Wallet for iOS is available, we have a link for installing the app but the builds currently require your UDID. Contact either @macsleven or @raedah with your UDID if you would like to help test.". Nearest goal is to make the app crash free. Both mobile apps received new design themes. dcrdata: v3.0 was released for mainnet! Highlights: charts, "merged debits" view, agendas page, Insight API support, side chain tracking, Go 1.11 support with module builds, numerous backend improvements. Full release notes here. This release featured 9 contributors and development lead @chappjc noted: "This collaboration with @raedahgroup on our own block explorer and web API for @decredproject has been super productive.". Up next is supporting dynamic page widths site wide and deploying new visual blocks home page. Trezor: proof of concept implementation for Trezor Model T firmware is in the works (previous work was for Model One). Ticket splitting: updated to use Go modules and added simnet support, several fixes. docs: beginner's guide overhaul, multiple fixes and cleanups. decred.org: added 3rd party wallets, removed inactive PoW pools and removed web wallet. @Richard-Red is building a curated list of Decred-related GitHub repositories. Welcome to new people contributing for the first time: @klebe, @s_ben, @victorguedes, and PrimeDominus! Dev activity stats for September: 219 active PRs, 197 commits, 28.7k added and 18.8k deleted lines spread across 6 repositories. Contributions came from 4-10 developers per repository. (chart)
Hashrate: started and ended the month around 75 PH/s, hitting a low of 60.5 and a new high of 110 PH/s. BeePool is again the leader with their share varying between 23-54%, followed by F2Pool 13-30%, Coinmine 4-6% and Luxor 3-5%. As in previous months, there were multiple spikes of unidentified hashrate. Staking: 30-day average ticket price is 98 DCR (+2.4). The price varied between 95.7 and 101.9 DCR. Locked DCR amount was 3.86-3.96 million DCR, or 45.7-46.5% of the supply. Nodes: there are 201 public listening nodes and 325 normal nodes per dcred.eu. Version distribution: 5% are v1.4.0(pre) dev builds (+3%), 30% on v1.3.0 (+25%), 42% on v1.2.0 (-20%), 15% on v1.1.2 (-7%), 6% on v1.1.0. More than 76% of nodes run v1.2.0 and higher and therefore support client filters. Data as of Oct 1.
Obelisk posted two updates on their mailing list. 70% of Batch 1 units are shipped, an extensive user guide is available, Obelisk Scanner application was released that allows one to automatically update firmware. First firmware update was released and bumped SC1 hashrate by 10-20%, added new pools and fixed multiple bugs. Next update will focus on DCR1. It is worth a special mention that the firmware source code is now open! Let us hope more manufacturers will follow this example. A few details about Whatsminer surfaced this month. The manufacturer is MicroBT, also known as Bitwei and commonly misspelled as Bitewei. Pangolinminer is a reseller, and the model name is Whatsminer D1. Bitmain has finally entered Decred ASIC space with their Antminer DR3. Hash rate is 7.8 TH/s while pulling 1410 W, at the price of $673. These specs mean it has the best GH/W and GH/USD of currently sold miners until the Whatsminer or others come out, although its GH/USD of 11.6 already competes with Whatsminer's 10.5. Discussed on Reddit and bitcointalk, unboxing video here.
@matheusd started tests on testnet several months ago. I contacted him so we could integrate with the pool in June this year. We set up the machine in July and bought the first split ticket on mainnet, using the decredbrasil pool, on July 19. It was voted on July 30. After this first vote on mainnet, we opened the tests to selected users (with more technical background) on the pool. In August we opened the tests to everyone, and would call people who want to join to the #ticket_splitting channel, or to our own Slack (in Portuguese, so mostly Brazilian users). We have 28 split tickets already voted, and 16 are live. So little more than 40 split tickets total were bought on decredbrasil pool. (@girino in #pos-voting)
KuCoin exchange listed DCBTC and DCETH pairs. To celebrate their anniversary they had a 99% trading fees discount on DCR pairs for 2 weeks. Three more wallets integrated Decred in September:
Atomic desktop wallet added Decred in version 0.1.31. The team answered many questions on Reddit.
AnyBit wallet added Decred. It features built-in price and news tracking. Notably, the source code is open for their Android and iOS wallets.
Coboadded Decred support into their Android and iOS wallets.
ChangeNow announced Decred addition to their Android app that allows accountless swaps between 150+ assets. Coinbase launched informational asset pages for top 50 coins by market cap, including Decred. First the pages started showing in the Coinbase app for a small group of testers, and later the web price dashboard went live.
The birth of a Brazilian girl was registered on the Decred blockchain using OriginalMy, a blockchain proof of authenticity services provider. Read the full story in Portuguese and in English.
Advertising report for September is ready. Next month the graphics for all the ads will be changing.
Marketing might seem quiet right now, but a ton is actually going on behind the scenes to put the right foundation in place for the future. Discovery data are being analyzed to generate a positioning strategy, as well as a messaging hierarchy that can guide how to talk about Decred. This will all be agreed upon via consensus of the community in the work channels, and materials will be distributed. Next, work is being done to identify the right PR partner to help with media relations, media training, and coordination at events. While all of this is coming up to speed, we believe the website needs a refresher reflecting the soon to be agreed upon messaging, plus a more intuitive architecture to make it easier to navigate. (@Dustorf)
Raedah Group went on the streets of Portland, USA with a pretty blue tent. (photos)
Meetup at Binzantin Cafe in Taipei, Taiwan. @morphymore: "There were 20-ish attendees, and about half of them have joined the Chinese FB group. Most of them don't hear about Decred before, but have expressed the interest in learning more about it after the event. Overall, it's a good exposure for Decred in the Taiwan community.". A report with photos was posted on Facebook, more photos are here and here.
@joshuam made a Decred Jacket appearance at Singapore Grand Prix. (photos)
NewTech PDX meetup in Portland, USA. Raedah Group presented Decred and reported "lots of new converts". (photos)
North Shore Bitcoin & Blockchain in Glenview, USA. @dustorf gave a five minute overview of Decred and noted: "There were only about 25 people, but about 1/3 of them were aware of Decred prior. (...) Our simple presence and explanation of the project moved opinion from 'another shitcoin they sold after mining' to 'an interesting and viable project worthy of further investigation'.". (photos: 12)
Bitcoin Meetup CDMX in Mexico City on Oct 6. @elian will be talking about Decred at the oldest Bitcoin meetup in Mexico.
SF Blockchain Week in San Francisco, USA on Oct 9. @lukebp will discuss DPoS vs PoS on a panel 9:30a-10:15a at the Titans of Tech Stage, Hilton Union Square.
Decred Meetup in Casablanca, Morocco on Oct 27. @butterfly will host the event and talk about Decred in French.
Texas Bitcoin Conference Austin, USA on Oct 27-28. @BAB: "The great thing about this is that it will also be a Decred Summit. We will have half of the conference dedicated to Decred topics, updates, etc."
Websummit in Lisbon, Portugal on Nov 5-8. @moo31337 will be on a panel discussing "2018: A Rollercoaster Year for Cryptocurrencies"
We'll begin shortly reviewing conferences and events planned for the first half of 2019. Highlights are sure to include The North American Bitcoin Conference in Miami (Jan 16-18) and Consensus in NYC (May 14-16). If you have suggestions of events or conferences Decred should attend, please share them in #event_planning. In 2019, we would like to expand our presence in Europe, Asia, and South America, and we're looking for community members to help identify and staff those events. (@Dustorf)
August issue of Decred Journal was translated to Russian. Many thanks to @DZ! Rency cryptocurrency ratings published a report on Decred and incorporated a lot of feedback from the community on Reddit. September issue of Chinese CCID ratings was published (snapshot), Decred is still at the bottom. Videos:
The underbelly of blockchain Governance - fiat licensing and our code with Marco Peerboom and Chris DeRose (youtube, tweet, decred, missed in August issue) Insightful dialogue about men's underwear, licenses, subtleties of GPL, BSD wars, tiling window managers and much more.
Introduction to Decred (Korean, youtube) @Killawhale collected a lot of feedback from the community and produced this video to spread the word in Korea.
Perspectives on Governance from Nathan Wilcox, Jonathan Zeppettini, Vitalik Buterin (z.cash)
Decred - an example of governance (Portuguese, youtube)
Decred, the crypto that wants to compete with Bitcoin (French, youtube)
Exodus.io Live with Marco from Decred! (youtube) Marco joins Exodus.io to discuss what makes DCR an asset that will stand the test of time.
Building Decred With Systems Development Lead Marco Peereboom - Governance, Politeia, Lightning (youtube) Topics: early days, Politeia, the structure of Decred, dcrtime, Lightning Network, attracting users and developers, future plans (DEX, Schnorr signatures, privacy, DAEs).
Decentralized autonomous funding of blockchain projects by @Richard-Red (medium, discussion on decred and dashpay)
The trouble with infrastructure, "thin" protocols in particular, is that someone has to build them at a cost. e.g. LN takes a ton of work, doesn't necessarily generate value itself, but it magnifies the value of BTC or whatever coin that uses it. I see the DEX in a similar light - whoever creates it is not going to make a bunch of money from it, but it will magnify the value of the underlying asset(s) that end up having a deep order book on the DEX. (@jy-p in #dex)
Twitter: why decentralized governance and funding are necessary for network survival and the power of controlling the narrative; learning about governance more broadly by watching its evolution in cryptocurrency space, importance of community consensus and communications infrastructure. Reddit: yet another strong pitch by @solar; question about buyer protections; dcrtime internals; a proposal to sponsor hoodies in the University of Cape Town; Lightning Network support for altcoins. Chats: skills to operate a stakepool; voting details: 2 of 3 votes can approve a block, what votes really approve are regular tx, etc; scriptless script atomic swaps using Schnorr adaptor signatures; dev dashboard, choosing work, people do best when working on what interests them most; opportunities for governments and enterprise for anchoring legal data to blockchain; terminology: DAO vs DAE; human-friendly payments, sharing xpub vs payment protocols; funding btcsuite development; Politeia vote types: approval vote, sentiment vote and a defund vote, also linking proposals and financial statements; algo trading and programming languages (yes, on #trading!); alternative implementation, C/C++/Go/Rust; HFTs, algo trading, fake volume and slippage; offline wallets, usb/write-only media/optical scanners vs auditing traffic between dcrd and dcrwallet; Proof of Activity did not inspire Decred but spurred Decred to get moving, Wikipedia page hurdles; how stakeholders could veto blocks; how many votes are needed to approve a proposal; why Decrediton uses Electron; CVE-2018-17144 and over-dependence on single Bitcoin implementation, btcsuite, fuzz testing; tracking proposal progress after voting and funding; why the wallet does not store the seed at all; power connectors, electricity, wiring and fire safety; reasonable spendings from project fund; ways to measure sync progress better than block height; using Politeia without email address; concurrency in Go, locks vs channels. #support is not often mentioned, but it must be noted that every day on this channel people get high quality support. (@bee: To my surprise, even those poor souls running Windows 10. My greatest respect to the support team!)
In September DCR was trading in the range of USD 34-45 / BTC 0.0054-0.0063. On Sep 6, DCR revisited the bottom of USD 34 / BTC 0.0054 when BTC quickly dropped from USD 7,300 to 6,400. On Sep 14, a small price rise coincided with both the start of KuCoin trading and hashrate spike to 104 PH/s. Looking at coinmarketcap charts, the trading volume is a bit lower than in July and August. As of Oct 4, Decred is #18 by the number of daily transactions with 3,200 tx, and #9 by the USD value of daily issuance with $230k. (source: onchainfx) Interesting observation by @ImacallyouJawdy: while we sit at 2018 price lows the amount locked in tickets is testing 2018 high.
ASIC for Lyra2REv2 was spotted on the web. Vertcoin team is preparing a new PoW algorithm. This would be the 3rd fork after two previous forks to change the algorithm in 2014 and 2015. A report titled The Positive Externalities of Bitcoin Mining discusses the benefits of PoW mining that are often overlooked by the critics of its energy use. A Brief Study of Cryptonetwork Forks by Alex Evans of Placeholder studies the behavior of users, developers and miners after the fork, and makes the cases that it is hard for child chains to attract users and developers from their parent chains. New research on private atomic swaps: the paper "Anonymous Atomic Swaps Using Homomorphic Hashing" attempts to break the public link between two transactions. (bitcointalk, decred) On Sep 18 Poloniex announced delisting of 8 more assets. That day they took a 12-80% dive showing their dependence on this one exchange. Circle introduced USDC markets on Poloniex: "USDC is a fully collateralized US dollar stablecoin using the ERC-20 standard that provides detailed financial and operational transparency, operates within the regulated framework of US money transmission laws, and is reinforced by established banking partners and auditors.". Coinbase announced new asset listing process and is accepting submissions on their listing portal. (decred) The New York State Office of the Attorney General posted a study of 13 exchanges that contains many insights. A critical vulnerability was discovered and fixed in Bitcoin Core. Few days later a full disclosure was posted revealing the severity of the bug. In a bitcointalk thread btcd was called 'amateur' despite not being vulnerable, and some Core developers voiced their concerns about multiple implementations. The Bitcoin Unlimited developer who found the bug shared his perspective in a blog post. Decred's vision so far is that more full node implementations is a strength, just like for any Internet protocol.
About This Issue
This is the 6th issue of Decred Journal. It is mirrored on GitHub, Medium and Reddit. Past issues are available here. Most information from third parties is relayed directly from source after a minimal sanity check. The authors of Decred Journal have no ability to verify all claims. Please beware of scams and do your own research. Feedback is appreciated: please comment on Reddit, GitHub or #writers_room on Matrix or Slack. Contributions are also welcome: some areas are adding content, pre-release review or translations to other languages. Credits (Slack names, alphabetical order): bee, Dustorf, jz, Haon, oregonisaac, raedah and Richard-Red.
Lisk Highlights Weekly roundup March 2nd 2019. The week in which we were selected by Bitpanda!
Hello everybody. The LISK project and it's enthusiasts are always busy, and this week past has certainly been no exception. Seeing is believing, so here is a recap of the highlights and interesting items from the past week on the LISK subreddit and beyond.....
Lisk Sidechain Project Presents at a workshop organized by a head of Volksbank.
Christian Junger, CEO of the MADANA project recently delivered a presentation on blockchain technology, its banking use cases, and how decentralization can strengthen privacy. What was extra special about this presentation was the audience; a consortium of heads of banks. Christian was essentially driving home to these leaders the message that the technology we use today isn’t designed for privacy, it is designed for the opposite - to be found and traced! Volkbank, who organised the workshop are the biggest German bank consortium comprising of 1,099 independent credit unions. Presentations such as this one are a good way to build bonds that will last long past MADANA's main sale and on into the release of the MADANA product. Who knows, maybe some of these banking leaders might even be interested in the MADANA product for their own uses also!
Lisk Sidechain Project Team to Review and Strategise in London this March.
Lisk in space?
My sources tell me that one of the highlights of the first Lisk Center Utrecht meetup was the quirky presentation delivered by Blockchain030. Titled "Crypto in Space", it proposed a hypothetical situation where there exists a colony on the Moon or Mars, and how that would work moneywise? Blockchain030 founders Susanne Pieterse and Marc Buma speculated that having physical coins or banknotes in space would be way too unwieldy an undertaking, and questioned "would you leave your money on another planet?" They discussed three different scenarios that illustrated how cryptocurrencies and blockchain can be used by future interplanetery colonists. One of the more offbeat scenarios was a blockchain based on Mars, with miners/validation situated on the red planet, but outworlders could also participate and create accounts. The pros would be that could provide a way for people that live on Mars to generate an income. Mars would become a Tax haven, especially if exchange to/from Earth coins would be possible. Complicating factors of course would be how to power the miners/validation on Mars, the question of and how successful digital currencies would be in a very small population as would be on Mars initially. A pair of the slides from the presentation can be seen HERE. On Monday the 28th January 2019, Lisk Center Utrecht (LCU) inked a partnership agreement with these interesting folks from Blockchain030. Blockchain030 is THE hub for blockchain technology within the Utrecht region. Their goal is to exchange knowledge, collaboration and business consultancy through meetings. Lisk center Utrecht's aim similarly is to create awareness for blockchain initiatives and help people through sharing knowledge, networking and collaborations. By Lisk Center Utrecht facilitating a physical location for designers, developers etc. to work together it will help many blockchain initiatives to grow their projects from a central hub. LCU is over 200 square metres of private office space with around 40 places available.... and all 100% free to users. These two partners wiill mesh together really well in my opinion. It is expected that the founders of Blockchain030 (Marc Buma , Eric van Riet Paap and Susanne Pieterse) will regularly be present in the LCU. You can read more about Blockchain030 HERE on their official website. I would advise using a browser with a translate function when viewing it if you do not speak Dutch.
Lisk's Good Month for Exchange Announcements.
You may remember how back in late January I wrote about Lisk getting the green light to move from the main mass market section of the KuCoin exchange to their KuCoin Plus Trading Area. Once tokens are promoted then KuCoin users can assume that these projects are well performing, are solid, and have less risk than the tokens traded in the main market. To be upgraded, projects had to meet three separate criteria.
Tokens must be ranked in the top 40 on coinmarketcap.com
The project needs to rank in the top 10% for trading volume out of all projects listed on KuCoin for two months consecutively
The project must also be highly rated by KuCoin’s internal review system
Now as well as the KuCoin upgrade Lisk has also received an upgrade from the Binance exchange. They have been awarded the V Label badge on the profile of their Binance Info page. This signals to the customer that Binance Info has determined the authenticity of the project team related to the Lisk project. Once a token listing receives the V Label badge, Binance users can assume that this project is legit, and in theory should be less risky than the tokens traded without the label. Great news for Lisk's profile on the exchange I feel.
The final piece of good news that I have to pass on is one I am sure you have heard about already, but it bears repeating for those who have not heard the news yet..... Lisk will be available to trade on Bitpanda from March 7th. In a public twitter poll to select Bitpanda's latest listing Lisk garnered 44% of the vote versus 26% for Dogecoin, 23% for Basic Attention Token, and 7% for Golem. Bitpanda is an Austrian based cryptocurrency exchange catering mostly to Europe with a user base of over 900000. This listing is great news for Lisk; more eyes on us and more liquidity. Great stuff.
CURIOINVEST: AN ECOSYSTEM FOR ACCESSING A CONTINUOUS FLOW OF TOP-TIER COLLECTABLE ASSETS.
https://preview.redd.it/sup96u589en31.png?width=640&format=png&auto=webp&s=de01a9b2b13800017b41a4b4f8ba455e5a87ff2e From across the world, collectible cars are of great interest over the past years of human civilization. Many problems are associated with investing in collectible cars, some of which are briefly discussed below: 1. High COST of acquisition & maintenance: the cost of owning ones personal car can be very high. This can be so frustrating most especially to the average individuals and below. Also, running additional costs for the purpose of car maintenance cannot be overlooked such as insurance, damage, repair, storage, and so on. 2. Inaccessible for some: many collectible cars are not sold on the open market. Such ones are produced in limited quantity and even times they want to proof to us that the future owner had several other tools of the same brand. 3. The lack of technical knowhow: assessing the origin and value of any car requires special knowledge and this is particularly important when the car is purchased in the secondary market. https://preview.redd.it/k6cwelcb9en31.jpg?width=618&format=pjpg&auto=webp&s=39596ba4e001e387daa106afc3a8e7e411c96a74 These issues continue like that but just to mention the few like I did above so we all can begin to see the necessity of this project, CurioInvest and we can be on the same page from the perspective/angle of taking it seriously. For this reason, CurioInvest as an opportunity to the world of blockchain and beyond as it is only available to a small group of people because of the high cost of entry to such market. Now, let me wow your curiosity on this project: i. CurioInvest already has successful experience in the auto trade at some well-known firms and have access to more than 500 rare collectible cars. ii. CurioInvest as a platform which is being created on the innovative blockchain technology and this implies a high level of transparency, security and liquidity. iii. CurioInvest is really striving to become the brand for sale collector cars and the stock exchange where there can be trade security tokens called Curio in real-time. iv. CurioInvest cooperates with the Mechatronik GmbH to ensure the storage and maintenance of vehicles. https://preview.redd.it/peyk7thc9en31.jpg?width=640&format=pjpg&auto=webp&s=0deacc4fe0dadd13d750247654d4f515ceb48d92 The opportunities that this project has are unlimited compared to the little I wrote. There are many more to these ones.
HOW THE CURIOINVEST PLATFORM WORKS:
The initial step is to turn into a checked client of the platform. This way to enroll your email address, round out the enlistment structure and affirm your own personality. The subsequent advance Invest: You can put with others in a gatherer's vehicle joining the organization crowdfunding. When you do, you will get a testament affirming your interest in the vehicle. Once there is an adequate store, CurioInvest purchases a vehicle at that point comes the age and dispersion of car Curio tokens among financial specialists which will supplant the testament. The third step has to do with checking and expansion: This is where you offer your tokens for distributed exchanging platform. Here likewise, you can follow execution markers of your vehicles and purchase new tokens to expand their ventures. https://preview.redd.it/7ahf7zve9en31.jpg?width=640&format=pjpg&auto=webp&s=e024785391f3ef095d020b5af22a42b5eed75d2c The IEO of Curio tokens is in progress on Probit Exchange. Hi reader, please be informed that now is the last chance that everyone has to buy some CUR token before the listing which is coming up on ProBit_Exchange on the 20th September, 2019 (It’s just a matter of 3days from now). So do not miss out in the IEO! https://preview.redd.it/niji8a4j9en31.jpg?width=616&format=pjpg&auto=webp&s=10c019012aa16d8e3e4d2cbc36e0a9c5eaa9ccbe
Kraken - Think of it as a roach motel for your wealth. Your wealth checks in, but they dont let it out.
I thought I'd add my voice to the chorus of people having problems getting their money out of Kraken. They make it a lot easier to get money IN than out. They want your money IN and trading. Then, when you want to take it out, there are all kinds of hurdles and hoops to jump through. The odd hurdle I am now facing is that I was initially verified to Tier 3 and they said I was allowed to withdraw $25,000 fiat a day, $200,000 a week. I then send cryptocurrency into Kraken, and sold $25,000 worth. Im by no means wealthy and this is a lot of money to me, so I made sure to get all the verifications done FIRST, get that out of the way, so I wouldnt run into hassles later trying to get the money out. However when I did try to wire it out, well they say actually I was not really verified after all. Verified enough to send wealth INTO their system but apparently not verified after all when I want to get it out. Plus, my money is now tied up in a wire transfer request that was stuck in “pending” status because of this verification process, including the verification demands of a third party, their wire transfer partner, Synapsepay. So I decided to just pull out of kraken entirely, I figure I will just cancel the wire transfer request, then convert the funds back into crypto and get them out of Kraken. However amazingly they are telling me that I can not even cancel the wire request until everyone is satisfied they have “verified” me. That’s including the wire transfer company they work with, Synapsepay, the one I do not want to use any more. In order to free up my money from the wire transfer request that I am asking to cancel, I need Synapsepay’s permission, and Synapsepay wants me to do some “verifications” with them. The first time I first tried to wire my funds out of Kraken, the first attempt was pending for a couple of days then listed as “failed”. At that time, I sent two messages to Kraken support asking why the wire failed, with no response, then I sent a message to synapsepay directly, also no response from them. So I decided to just try again. Again it was stuck in “pending” status for a couple of days, so I decided to give up and cancel the wire entirely. I decided to give up on Kraken, cancel the wire, convert the funds back to cryptocurrency, and get the funds out of Kraken. I did not want my wealth to be tied up at an exchange for any longer than the minimum time required to actually conduct a transaction. However here is where the weirdness starts, if you don’t consider failing to reply two questions about why a $25,000 wire failed as already ‘weird’. I write to Kraken asking for help cancelling the wire because I want to just give up and get my money out of their system by converting back to cryptocurrency. At this point, first, I am told that I had only been “preliminarily” verified, though the term “preliminary” had not been used in any communication or information from Kraken prior to this, but that actually I was not really verified. There was no concept of “preliminary” anywhere in the universe of my interactions with Kraken until after they accept my wealth into their system, then it appears:
You might have had preliminary verification access when you first joined, but once the the system syncs up with the latest round of account reviews you were deemed unverified. I do not think your verification process will be an issue. I have submitted your case to our manual review process so it can be taken care of, but it can take up to 2-5 business days. No one can speed this up. I am sorry to tell you what you do not want to hear, but it is reality and the best I can do.
Well the verification process was an issue because first of all, it was already finished supposedly. They are trying to tell me that this is just how the world works, but I know this to be false because I have not experienced similar problems with other exchanges, and a quick comparative google search of complaints regarding getting money out show that kraken dominates that particular aspect of exchanges. From a truth in advertising, financial fiduciary and other perspectives, they should try to provide accurate information as to what you are actually approved to do. If they claim you are approved to move money in and OUT of their system, you shouldn’t suddenly hit big roadblocks when you try to access the “out” side of things. Anyway, so my $25,000 was tied up in a “pending” wire transfer through Synapsepay due to this ‘verification’ issue. I thought I had an obvious solution. Since they can’t put the wire through due to my being “unverified” with Synapsepay, I can just cancel the wire, correct? I said, OK let’s just cancel the wire, forget about it. I will just convert my funds back into crypto, send them out from Kraken, and stop working with Kraken. Seems simple enough, doesn’t it? Well first they don’t understand simple English. I indicated to them that I wanted to CANCEL the pending wire and just get my wealth out of the exchange, but their response is about being patient and working with them on ‘verification’ and “retrying the transaction”.
Also, it appears that we're having issues with the verification of your documents. I have forwarded this to the verification department for manual review. This review can take 2-5 business days. Please try your transaction again after 5 business days. If you continue to have issues, please reply back.
They obviously didnt understand a word I had said when they talk about “re-trying” the transaction “after 5 business days”. My input to them was that I wanted my money out of their control, right now, so cancel the transaction and free up my funds. Their response is, we are working on your verification, so you can re-try the transaction in 5 business days. So I clarified that I did not want any wire transfer to occur, I just wanted my money released from being held for a pending wire transfer, and they told me that their third party wire processor, Synapsepay, has to “verify” me in order for my wire transfer request to be cancelled. They weren’t putting it through, so I cancelled it. I need their permission to cancel? And getting that permission involves being “verified” by them? I must submit documents to them and get “verified” in order to not do business with them? This is absurdity of Kafkaesque proportions. Here’s Kraken’s message:
Your account for Synapse Pay is unverified. We will need to work to verify your account in order to seamless use their service. The unverified status is due to the wire processors inability to validate your SSN. If the SSN comes back as invalid, we are required to obtain an image of the physical card to reconcile the discrepancy. When this happens we need a copy of the card. Please upload a photo or scan of your SSN via the Get Verified -> Tier 3 page in your Kraken account. Or email me an attachment. Once a picture of your card is uploaded or emailed to me please let me know me know. Until you are verified your cancel request will not be settled. That being said, the cancel request still stands.
Here’s the kicker - “Until you are verified your cancel request will not be settled.” First of all, the claim that they are “unable” to verify the SSN is baloney. I have been a US citizen using my SSN all my life, it is extensively documented in all available databases including with all 3 credit agencies, whose reports I review regularly. I entered it in correctly. If they are “unable” to verify that after I gave my full info, they don’t deserve to be in the business of verifying anything. Second, I am not asking Synapsepay to do anything. I do not want to “seamless use their service”. I want to NOT use their service. I am giving up on them, deciding NOT to do business with them, asking them to go away, get their hands off my money. However, for some reason, I need to “verify” with them in order to ask them to not do business with me and go away? These guys are running their operation in a manner which most likely is afoul of many regulatory requirements. It must run contrary to some regulatory requirement to freeze up funds for a wire transfer, then have the client cancel the transfer because it was being delayed, and then require the third party wire processor’s permission to have the transaction cancelled? I would be curious from anyone who has knowledge of regulatory requirements and relevant regulatory agencies. They have not only responsibilities under KYC laws and so on, but obviously they also have responsibilities to the clients whose money they are holding. Any ideas about how to file a regulatory complaint about this? I have no choice so I gave them a copy of the card, but when I did go to Get verified -> Tier 3, there was no option to upload any more documents. Another reddit thread describes someone else with this same situation. So they seem to like asking people to upload their SS cards despite it not being possible to do so. Email is also not a secure way of transmitting sensitive documents, but I went ahead and messaged them a download link to a copy of my SS card and am now waiting for the next hoops. Bottom line is, I recommend against doing business with these guys. They have no respect for your money at all and feel free to tie up your funds in ridiculous situations. Then they try to pass off the outrageous situations they concoct as the normal way the world works, despite similar experiences not occurring on other exchanges. I’m not alone here in having difficulty getting money OUT of kraken. It’s like a roach motel for your wealth. Stay away. For example: https://bitcointalk.org/index.php?topic=1880210.0 https://np.reddit.com/Bitcoin/comments/4s7biu/kraken_has_not_released_23000_of_my_funds_and/ https://np.reddit.com/BitcoinMarkets/comments/5mfa92/anyone_else_having_trouble_getting_money_out_of/ https://bitcointalk.org/index.php?topic=606385.0 Google can show you more if you like. ====Update==== Originally, I posted the update as a reply to this thread but I thought it would make more sense to put the update in the original post text so that people who come across the thread would be able to see what the outcome/resolution was, without it being buried in the replies. I just deleted my previous update reply/post so as to not double post. Update below: Ok here is an update. Ive been working on this issue of trying to get the funds out for a week and encountered the issues listed above. Have been debating with support why I need a third party to 'verify' me in order to cancel a transaction I had previously requested to have with them, and getting nowhere. Now I posted to /btc about this 8 hours ago, and 30 minutes ago a response from support at kraken shows up in my email saying they are sincerely sorry for the trouble and the problematic wire request that was tying up my funds has been cancelled, and the funds are now back available in my account. So I have successfully converted to crypto and sent it out, and watched the confirmations pile up and now I can breathe a deep breath of relief. I dont see a kraken post in this thread but I do believe this thread was probably noticed and this helped finally unstick everything. Otherwise it would indeed be quite a coincidence that I would be encountering my inquiries being not responded to, then finally serious bureacratic stonewalling and beauracrobabble, then coincidentally just hours after a reddit thread on the topic starts getting views, they decide to just clean everything up and release my funds to me with an apology. I dont think its a coincidence, so first of all, I want to say thank you so much to everyone here in /btc for being concerned about my situation and for your kind words of support. I think you really did help me get this situation resolved. It was quite anxiety provoking to know that a bolus of money which I was lucky enough to come into as a result of having bought some bitcoin many years ago, was trapped in a bureacratic maze. But now I am so thankful that is resolved. Also believe it or not I would like to say thanks to kraken for finally figuring out that they were allowed to let me not do a wire transfer without getting permission and verification from some third party. I dont think they were being mean or evil of course, just somehow thinking that the rules require them to be illogical... calls to mind the description of vogons from the hitchhiker's guide to the galaxy... "not actually evil, but… bureaucratic, officious and callous". (I took out bad tempered as they didnt quite seem to be that either.) They do seem to be trying to do a good job... people who trade with them in EUR seem to be happy. Their trading system seems well designed with good use of 2 factor auth, etc. However... they do need to up their USD game a bit before they could be recommended for trades in USD. Well anyway I dont mean to babble... but thank you again everyone here at reddit, first and most of all, and also thank you to kraken for finally noticing that the rules were being silly and letting me have my funds back.
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