Was ist Bitcoin Halving? Alles zum Bitcoin Halving 2020 ...

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The Four Horsemen - Signs of Incoming Crashes, and things.

Hey y'all! I'm going to keep this brief, but I was asked by Mr. October to post this, since I briefly described this on a discord we're both in. I do a ton of market analysis, mostly on alternative data, so I don't have cool superpowers potentially, but I do fancy myself a good trendspotter.
I wanted to share what I call my Four Horseman metric in brief, and I will fill it in more later when I get back/free from the clutches of homework.
The Four Horsemen:
  1. Rapid plunge in BTC/USD - This is an interesting metric, and makes sense if you understand that BTC has evolved from a hedge to a speculation play, which is why it arguably moves in lockstep with SPY most days. However, an interesting property I and many others have noticed is BTC seems to be a leading indicator of market movements, and rapid climbs/plunges tend to signal an incoming correction. See the chart on September 2nd, 2020 for an example.
  2. NOPE_MAD >= 3 End of Day: NOPE, or Net Option Pricing Effect, in principle looks at how dominant options flow trading volume is on the market compared to the more conventional shares volume. When the NOPE_MAD (median absolute deviation) compared to the previous 30 days is 3 deviations higher than normal, this means a red day the next day about 88% of the time (backtested to Mar 2019). You can check NOPE_MAD intraday here - https://thenope.info/nope/default/charts/SPY/2020-10-13 (the URL changes per day, so tomorrow will be 2020-10-14)
  3. The VIX rising with SPY - This usually is part of the parabolic phase, and means a metric fuck ton of calls are being written, which is pushing up option prices across the board. Usually VIX is a measure of downies-volatility, so when it and SPY both go up, it's a Very Bad Thing. Also see September 2nd, 2020.
  4. Small Tech/Caps Leading Big Tech/Caps - This is a more interesting metric, and only makes sense when you understand what causes a Minsky Moment style correction (irrational exuberance). In a stable market, big caps tend to act as a source of strength/safe harbor, and when small caps are leading, this tends to signal intense bull mania, which usually precedes a correction.
Honorable Mentions:
  1. Microsoft going up parabolically - Microsoft is our favorite boomer stock for a reason - it is much more stable than AMZN or AAPL, and doesn't like large movements. I noticed anecdotally this year that right before all the big tech corrections (3-5 days out) MSFT goes up exponentially, often more than the rest of the market, because smart money is looking for safe harbor.
I'd be happy to answer any questions later!

Edit: Wanted to add some stuff given the comments below.
  1. I did not write this to predict a crash based on today's behavior, but to generally inform about a metric I use to detect Minsky Moment style crashes. For more info on that - https://en.wikipedia.org/wiki/Minsky_moment
  2. Lots of these indicators are new, and due in large part due to the relative fuckiness of the current market. Bitcoin and SPY did not track until this year, and I only noticed the Microsoft effect I mentioned since about 6/5 onwards. This likely also happens in other boomesafe stocks, but MSFT is by far my largest active trading position, hence why I noticed it.
  3. I will be adding a post soon specifically dedicated to the interpretation of NOPE and NOPE_MAD.
submitted by the_lilypad to thecorporation [link] [comments]

Bored? Looking for something to do? Start with this list of things to do in the Sacramento area.

(Credit for the below list has to be given to u/BurritoFueled, who created the original list in 2014 and updated it a year later. Almost two-thirds of the items below are still from that original list. All I’ve done with the list is revive it a little bit by updating dead links and making little tweaks when necessary. Also, thanks to those that submitted new additions to the list last week. Over a third of the below items are new and a lot of the original items have had newer information added onto them.)
People are always looking for something to do around here. Maybe you’re a transplant, unaware of what this area has to offer, or maybe you’re a lifelong resident, tired of the same old thing. Well friend, if you fall into the latter category, do not despair. There’s actually plenty of things to do in the Sacramento area – things of interest to almost any lifestyle, personality, or budget.
So, whether you’re an athlete, geek, eccentric, hipster, weirdo, sexual deviant or just a normal person looking for a new activity, below is a list of activities for you to try. Please note that it includes only activities that take place at least a few times a year – no one-off events or festivals here.
Enjoy this list. If you have any suggestions of your own to add, comment below in this thread. I'll try to keep this as up to date as possible.
Away we go.
UPDATED 10-6-20
(Note: Due to the current pandemic, some of these activities may be curtailed or not offered at all.)
submitted by PowerWindows85 to Sacramento [link] [comments]

Why Bitcoin is Superior to Gold

There is a constant war being fought between goldbugs, like Peter Schiff, and Bitcoin enthusiasts so I decided to make an outline, with links, comparing and contrasting gold and Bitcoin. I made this in November of 2019 (thus the information therein is based on figures from that time) but, being scatter brained, neglected to post this for the Bitcoin community to see. The yardsticks I used to compare the two assets included the following: shipping/transactions costs, storage costs, censorship factor, settlement time, stock to flow, blockchain vs clearing house, validation, etc. I will also touch on Roosevelt's gold confiscation executive order in 1933, transporting gold during the Spanish Civil War in 1936, and the hypothetical cost for Venezuela to repatriate its gold more recently.
I will provide a brief summary first then follow that with the outline I made. This information can be used as a tool for the Bitcoin community to combat some of the silly rhetoric coming from goldbugs such as Peter Schiff and James Rickards. I would like to make it clear, however, that I am not against gold and think that it performed its role as money very well in a technologically inferior era, namely Victorian times but I think Bitcoin performs the functions of money better than gold does in the current environment.
I have been looking to make a contribution to the Bitcoin community and I hope this is a useful and educational tool for everyone who reads this.
Summary:
Shipping/transaction costs: 100 ounces of gold could be shipped for 315 dollars; the comparable dollar value in Bitcoin could be sent for 35 dollars using a non-segwit address. Using historical precendent, it would cost an estimated $32,997,989 to transport $1 billion in gold using the 3.3% fee that the Soviets charged the Spaniards in 1936; a $1 billion Bitcoin transaction moved for $690 last year by comparison. Please note that the only historic example we can provide for moving enormous sums of gold was when the government of Spain transported gold to Moscow during the Spanish Civil War in 1936. More information on this topic will be found in the notes section.
Storage costs: 100 ounces of gold would require $451 per year to custody while the equivalent value of Bitcoin in dollar terms could be stored for the cost of a Ledger Nano S, $59.99. $1 billion USD value of gold would cost $2,900,000 per year while an Armory set up that is more secure would run you the cost of a laptop, $200-300.
Censorship factor: Gold must pass through a 3rd party whenever it is shipped, whether for a transaction or for personal transportation. Gold will typically have to be declared and a customs duty may be imposed when crossing international borders. The key take-away is gatekeepers (customs) can halt movement of gold thus making transactions difficult. $46,000 of gold was seized in India despite the smugglers hiding it in their rectums.
Settlement time: Shipping gold based on 100 ounces takes anywhere from 3-10 days while Bitcoin transactions clear in roughly 10 minutes depending on network congestion and fee size.
Historic confiscation: Franklin Roosevelt confiscated and debased the paper value of gold in 1933 with Executive Order 6102. Since gold is physical in nature and value dense, it is often stored in custodial vaults like banks and so forth which act as a honeypot for rapacious governments.
Stock to flow: Plan B's stock to flow model has become a favorite on twitter. Stock to flow measures the relationship between the total stock of an asset against the amount that is produced in a given year. Currently gold still has the highest value at 62 while Bitcoin sits at 50 in 2nd place. Bitcoin will overtake gold in 2024 after the next halving.
Blockchain vs clearing house: gold payments historically passed through a 3rd party (clearinghouse) in order to be validated while Bitcoin transactions can be self validated through the use of a node.
Key Takeaway from above- Bitcoin is vastly superior to gold in terms of cost, speed, and censorship resistance. One could theoretically carry around an enormous sum of Bitcoin on a cold card while the equivalent dollar value of gold would require a wheelbarrow...and create an enormous target on the back of the transporter. With the exception of the stock to flow ratio (which will flip in Bitcoin's favor soon), Bitcoin is superior to gold by all metrics covered.
Notes:
Shipping/transaction costs
Gold
100 oz = 155,500. 45 x 7 = $315 to ship 100 oz gold.
https://seekingalpha.com/instablog/839735-katchum/2547831-how-much-does-it-cost-to-ship-silver-and-gold
https://www.coininvest.com/en/shipping-prices/
211 tonnes Venezuela; 3.3% of $10.5 billion = 346,478,880 or 32,997,989/billion usd
http://blogs.reuters.com/felix-salmon/2011/08/23/how-to-get-12-billion-of-gold-to-venezuela/ (counter party risk; maduro; quotes from article)
Bitcoin
18 bitcoin equivalent value; 35 USD with legacy address
https://blockexplorer.com/
https://bitcoinfees.info/
1 billion; $690 dollars
https://arstechnica.com/tech-policy/2019/09/someone-moved-1-billion-in-a-single-bitcoin-transaction/
Storage costs
Gold
.29% annually; https://sdbullion.com/gold-silver-storage
100 oz – $451/year
$1 billion USD value – $2,900,000/year
Bitcoin
Ledger Nano S - $59.00 (for less bitcoin)
https://shop.ledger.com/products/ledger-nano-s/transparent?flow_country=USA&gclid=EAIaIQobChMI3ILV5O-Z5wIVTtbACh1zTAwqEAQYASABEgJ5SPD_BwE
Armory - $200-300 cost of laptop for setup
https://www.bitcoinarmory.com/
Censorship factor (must pass through 3rd party)
Varies by country
Gold will typically have to be declared and a customs duty may be imposed
Key take-away is gatekeepers (customs) can halt movement of gold thus making transactions difficult
$46,000 seized in India
https://www.foxnews.com/travel/indian-airport-stops-29-passengers-smuggling-gold-in-their-rectums
Settlement time
Gold
For 100 oz transaction by USPS 3-10 days (must pass through 3rd party)
Bitcoin
Roughly 10 minutes to be included in next block
Historic confiscation-roosevelt 1933
Executive Order 6102 (forced spending, fed could ban cash, go through and get quotes)
https://en.wikipedia.org/wiki/Executive_Order_6102
“The stated reason for the order was that hard times had caused "hoarding" of gold, stalling economic growth and making the depression worse”
Stock to flow; https://medium.com/@100trillionUSD/modeling-bitcoins-value-with-scarcity-91fa0fc03e25 (explain what it is and use charts in article)
Gold; SF of 62
Bitcoin; SF of 25 but will double to 50 after May (and to 100 in four years)
Blockchain vs clearing house
Transactions can be validated by running a full node vs. third party settlement
Validation
Gold; https://www.goldismoney2.com/threads/cost-to-assay.6732/
(Read some responses)
Bitcoin
Cost of electricity to run a full node
Breaking down Venezuela conundrum; http://blogs.reuters.com/felix-salmon/2011/08/23/how-to-get-12-billion-of-gold-to-venezuela/
“The last (and only) known case of this kind of quantity of gold being transported across state lines took place almost exactly 75 years ago, in 1936, when the government of Spain removed 560 tons of gold from Madrid to Moscow as the armies of Francisco Franco approached. Most of the gold was exchanged for Russian weaponry, with the Soviet Union keeping 2.1% of the funds in the form of commissions and brokerage, and an additional 1.2% in the form of transport, deposit, melting, and refining expenses.”
“Venezuela would need to transport the gold in several trips, traders said, since the high value of gold means it would be impossible to insure a single aircraft carrying 211 tonnes. It could take about 40 shipments to move the gold back to Caracas, traders estimated. “It’s going to be quite a task. Logistically, I’m not sure if the central bank realises the magnitude of the task ahead of them,” said one senior gold banker.”
“So maybe Chávez intends to take matters into his own hands, and just sail the booty back to Venezuela on one of his own naval ships. Again, the theft risk is obvious — seamen can be greedy too — and this time there would be no insurance. Chávez is pretty crazy, but I don’t think he’d risk $12 billion that way.”
“Which leaves one final alternative. Gold is fungible, and people are actually willing to pay a premium to buy gold which is sitting in the Bank of England’s ultra-secure vaults. So why bother transporting that gold at all? Venezuela could enter into an intercontinental repo transaction, where it sells its gold in the Bank of England to some counterparty, and then promises to buy it all back at a modest discount, on condition that it’s physically delivered to the Venezuelan central bank in Caracas. It would then be up to the counterparty to work out how to get 211 tons of gold to Caracas by a certain date. That gold could be sourced anywhere in the world, and transported in any conceivable manner — being much less predictable and transparent, those shipments would also be much harder to hijack. How much of a discount would a counterparty require to enter into this kind of transaction? Much more than 3.3%, is my guess. And again, it’s not entirely clear who would even be willing to entertain the idea. Glencore, perhaps?”
“But here’s one last idea: why doesn’t Chávez crowdsource the problem? He could simply open a gold window at the Banco Central de Venezuela, where anybody at all could deliver standard gold bars. In return, the central bank would transfer to that person an equal number of gold bars in the custody of the Bank of England, plus a modest bounty of say 2% — that’s over $15,000 per 400-ounce bar, at current rates. It would take a little while, but eventually the gold would start trickling in: if you’re willing to pay a constant premium of 2% over the market price for a good, you can be sure that the good in question will ultimately find its way to your door. And the 2% cost of acquiring all that gold would surely be much lower than the cost of insuring and shipping it from England. It would be an elegant market-based solution to an artificial and ideologically-driven problem; I daresay Chávez might even chuckle at the irony of it. He’d just need to watch out for a rise in Andean banditry, as thieves tried to steal the bars on their disparate journeys into Venezuela.”
submitted by cornish_roots to Bitcoin [link] [comments]

Official ColossusXT Q2 2020 AMA!

Official ColossusXT Q2 2020 AMA!
Welcome to the 10th official ColossusXT AMA! As we move into the 2nd half of 2020 we can look back and see how blockchain as a whole is moving forward, and we've seen how COVID-19 has affected the world globally. It's been interesting to hear from the community how it has affected everyone all over the world. Certainly ColossusXT has been affected along with many other blockchain projects, but since the entire team has been working remotely from all of the world from the start, the affect directly to us has been minimal.
Moving forward into 2020 we will be updating the roadmap, providing more social activities for the community to participate in, as many have participated in the Armis beta, and helping us resolve some bugs within the mobile wallet which is back up and running thanks to many of the dedicated community members. We will be listed on tokens.net, and will continue to bring alternative trading opportunities to the community, if there are certain exchanges you're interested in please don't hesitate to shout them at us here, and shout ColossusXT #COLX $COLX on social media. 2020 is sure to be an exciting year and we look forward to your questions. This is your opportunity to publicly gripe at us, or ask us any direct question about development, business, and/or financial progress of ColossusXT and the Colossus Grid.

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This AMA will start on 10 June and end on 30 June.
The team will review and answer your questions no later than 10 July.
Before the AMA begins, everyone from the community can ask questions on this page and upvote/downvote according to your interest.
Rules:
Please do not reply to other user's questions until the team has answered. Try to be precise with your questions and be polite.
Contest: One person who asks a question will be chosen to receive 100,000 ColossusXT (COLX) and a ColossusXT T-Shirt!

ColossusXT (COLX) Ask Me Anything

ColossusXT AMA Shirt
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About ColossusXT (COLX):
ColossusXT is an open source, community-driven, environmentally conscious cryptocurrency and an alternative to bitcoin that features better anonymity. It allows people to store and invest their wealth in a non-government controlled currency and make almost instantaneous and completely anonymous transfers with close to zero fees. Colossuscoin V1 was founded as an long-standing, energy-efficient and environmentally friendly digital cryptocurrency and this concept is being continued.
Question format can be seen below:
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Q: What is the Colossus Grid?
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A: ColossusXT is an anonymous blockchain through obfuscation, along with utilization of Armis (I2P). These features will protect end user privacy as ColossusXT evolves into the Colossus Grid. The Colossus Grid will connect devices in a peer-to-peer network enabling users and applications to rent the cycles and storage of other users’ machines. This marketplace of computing power and storage will exclusively run on COLX currency. These resources will be used to complete tasks requiring any amount of computation time and capacity, or allow end users to store data anonymously across the COLX decentralized network. Today, such resources are supplied by entities such as centralized cloud providers which are constrained by closed networks, proprietary payment systems, and hard-coded provisioning operations. Any user ranging from a single PC owner to a large data center can share resources through Colossus Grid and get paid in COLX for their contributions. Renters of computing power or storage space, on the other hand, may do so at low prices compared to the usual market prices because they are only using resources that already exist.
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Q: Why does your blockchain exist and what makes it unique?
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A: ColossusXT exists to provide an energy efficient method of supercomputing. ColossusXT is unique in many ways. Some coins have 1 layer of privacy. ColossusXT and the Colossus Grid will utilize 2 layers of privacy through obfuscation, and Armis (I2P) these will protect users of the Colossus Grid as they utilize grid resources. There are also Masternodes and Proof of Stake which both can contribute to reducing 51% attacks, along with instant transactions and zero-fee transactions. This protection is paramount as ColossusXT evolves into the Colossus Grid. Grid Computing will have a pivotal role throughout the world, and what this means is that users will begin to experience the Internet as a seamless computational universe. Software applications, databases, sensors, video and audio streams-all will be reborn as services that live in cyberspace, assembling and reassembling themselves on the fly to meet the tasks at hand. Once plugged into the grid, a desktop machine will draw computational horsepower from all the other computers on the grid.
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Important Information:
Website
Whitepaper
Roadmap
Business Plan
Wiki
Governance
Partners
GitHub
What is ColossusXT? (YouTube)
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Follow ColossusXT on:
Twitter
Facebook
Telegram
Discord
Forums
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Interested in joining the ColossusXT team?
Contribute an Idea!
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AMA History:
2018 Q1 2018 Q2 2018 Q3 2018 Q4
2019 Q1 2019 Q2 2019 Q3 2019 Q4
2020 Q1
submitted by PioyPioyPioy to ColossuscoinX [link] [comments]

What's Happening At Dash? | Continually Updated News & Announcements Thread

Welcome to dashpay!
If you are new to Dash, we encourage you to check out our wiki, where the Dash project is explained from the ground up with many links to valuable information resources. Also check out the menu bar on top and the sidebar to the right. We have very active Discord and Telegram channels where the community is happy to answer any and all newcomer questions.

Purpose of this post

This post is directed towards community members who wish to rapidly access information on current developments surrounding the Dash cryptocurrency.
Lately we've noticed how the pace of events picked up significantly within the Dash project due to many years of hard work coming together and pieces falling into place ("Evolution" is finally here. It's called Dash Platform). For the purpose of keeping these many pieces of information together, however, singular Reddit submissions are insufficient. Thus we decided to maintain a pinned thread collecting blog posts, interviews, articles, podcasts, videos & announcements. Check back regularly, as this thread will always feature the latest news around Dash, while also serving as a mid-term archive for important announcements and developments.
Journalists looking for news and contact opportunities wrt Dash, please bookmark:

Dash Press Room

"At Dash Press Room you will find the latest press releases, media materials and product updates on Dash - Digital Cash."

Dash Platform Video Series (formerly known as "Evolution") with Amanda B. Johnson

  1. Dash is Becoming a Cloud | Dash Platform #1
  2. What is Dash Drive? | Dash Platform #2
  3. What is Dash's Decentralized API? (DAPI) | Dash Platform #3
  4. Usernames & Dash Platform Name Service (DPNS) | Dash Platform #4

Dash Core Group News

(last updated: Oct 9th, 2020)

Dash Insights with Mark Mason & Dash Talk with Amanda B. Johnson

(last updated: Oct 9th, 2020)

Development news

(last updated: Oct 9th, 2020)

Adoption, Partnership, Business Development, General News

(last updated: Oct 3rd, 2020)
submitted by Basilpop to dashpay [link] [comments]

Vechain in the last 30 Days: Apotheosis, Blockchain X, BMW, University partnership, DApp ecosystem, BitOcean ICO, Carbon banking, Live use cases, Early adopter rewards and more

This post is for those who are new to Cryptocurrency or want to find out more about VeChain. The text "VeChain" has been banned in this subreddit for the last 30 days. For more details about the ban itself, please visit this cryptocurrencymeta post. Changes have been made and official channels of communications have been opened up to prevent this from happening in the future.
All feedback is welcome, and all discussion is encouraged, but please no moon-posting, ridiculous price speculation or baseless FUD. Looking forward to answering any questions you guys have :) VeChain Foundation COO Kevin Feng is holding a Business AMA with Boxmining today, so new information is coming very soon.

TL:DR.

Updates from the last 30 days

It's been a big month for VeChain as they have continued to work and share with the community. Here are the updates from their Official Medium channel and Reddit Rebrand Post

New website - https://www.vechain.org/

It has loads of useful information and a well produced introduction video. I would highly recommend reading through the website to get an idea of the scope of what VeChainThor is trying to accomplish.
"We are controlled by the few, the powerful and the greedy. We should be free. Free to choose, to trade, to create. It is time for a new world, a world founded on safety and security. A world where everything you do creates power, power for all. And you, you will decide the shape of this world. The power to change the future, is in your hands. VeChain." VeChain Introduction Video

What is Blockchain X?

Blockchain X is a global enterprise level public blockchain platform. VeChainThor is referring to their network/protocol as Blockchain X, to differentiate it from Bitcoin (Blockchain 1.0) and Ethereum (Blockchain 2.0 = Blockchain 1.0 + Smart Contracts).

Blockchain X = Blockchain 2.0 + IoT + AI + VET/VeThor = A living digital ecosystem

  • Blockchain = structure - bones, muscle etc (immutable trustworthy network)
  • IoT = senses - touch, vision, taste, smell, sound (collect real world information from RFID/NFC/QR etc.)
  • VET/VeThor = bone marrow/blood - generate blood & circulate (value transfer on the network)
  • AI = brain - information synthesis (automation of network with deep learning)

VeChainThor: the top candidate for enterprise and government level adoption of Blockchain

VeChainThor has an extremely strong development plan geared towards enterprise and government level adoption. If successful in their execution, I see VeChain being the leading cryptoasset comparable to Ethereum in size. The reasons I believe they will succeed are due to their ecosystem development, innovative governance model, robust economic model and strong strategic partnerships. The evidence of their success is snowballing with each new enterprise level partner and client.

DApps & Ecosystem development

The infrastructure layer has adoption in mind at the very core. Governments and enterprises will prioritise safety and security before venturing into blockchain adoption. (Mentioned in the introduction video.) The core DApps, VeVID (Verified identity, KYC/AML), VeVOT (Voting, Governance tool) and VeSCC (Smart Contract Certification, Regulatory compliance) provide the safety and security that governments and enterprises will demand. Blockchain X will have built-in KYC/AML, Governance and Regulation compliance. This sets it apart from other protocols and ICO platforms.

Governance model

The governance model is a balanced mix of decentralisation and centralisation. With problems such as Bitcoin's scaling debate, it appears that a purely decentralised governance structure may be inefficient. VeChain will use a new model of a decentralised system through centralised channels. The final decisions will be made in a decentralised democratic process through VeVOT by stakeholders with voting authority. I believe this model will be more widely adopted as it retains some of the efficient centralised channels that enterprise & government are familiar with, while still giving overall control to the network participants via a democratic voting system.

Economic model

The two-token economic model splits the value in the network into VET and VeThor. VET's primary function is to generate VeThor. VeThor represents the underlying costs of using the VeChainThor blockchain. All smart contract execution and transactions will require payment with VeThor. Through the dynamic rate of VeThor generation, the fiat value of VeThor can be kept relatively stable. For example, if the VeThor price was too high due to an increase in enterprise demand, the VeThor generation rate can be increased, which increases supply, and brings the price back down. The opposite is also true if the VeThor price is too low. The way I see VET is a store of value, a representation of ownership of part of the network and the right to use the network. Whereas VeThor is the perfect medium of exchange and a pure utility token. By using a two-token system, VeThor can have a stable fiat value over a long period of time. A company will be able to calculate how much VeThor will be needed for a consistent fiat value year after year and will be able to budget for this. This is extremely useful for enterprise and government level adoption since it removes the inherent price volatility from a nascent market like crypto.
VeChain also has a Node system, whereby holding VET generates additional rewards. Nodes of different levels will generate up to 200% additional VeThor compared to the base rate. This encourages long term staking in the network and decreases volatility. See the Apotheosis Part II article and X Series Node article for more information. A portion of VET supply will be locked up when nodes activate. Long term VET holders will not sell and downgrade their status. This decreased supply will lead to price increases. Early adopters (Deadline to stake: Before 20th March 2018) will be rewarded in the new X Series Node system. Features include exclusive participation in VeChain ecosystem project whitelists. (Something I'm excited about since I believe there will be a handful of reverse ICOs from traditional enterprise clients)

Technology

VeChain is planning on adding more than 100 additional full-time developers by the end of 2018.
For those interested in the technology of Blockchain X, I would direct you to the Medium AMAs where the VeChain team have provided detailed answers to common questions. Hardware 1, Hardware 2, Software 1 and Software 2 are worth a read.

Strategic partners

The three strategic partners each play a key role in VeChainThor's expansion. PWC has clients which make up 85% of the Fortune 500. DNV-GL is the preferred provider of those Fortune 500 companies for management systems certification services. PWC and DNV-GL will serve to introduce their enterprise clients to VeChain and increase adoption. BitOcean is positioning itself as a Fiat on-ramp for Crypto in Japan through physical ATMs and online exchanges, with approval by Japan's Financial Services Authority. BitOcean also plans to operate in China when regulations are finalised. BitOcean represents a Fiat/VET pairing that may serve to decouple VET/BTC and lead to independence of VET from the whims of BTC price.

Evidence of adoption to date: Existing clients & Investors

VeChain currently has 180 business opportunities in their pipeline for 2018 (compared to 4 use cases in 2016 and 22 in 2017). They have real uses cases and existing clients that range from medium to large enterprises. Revealed clients include Chinese Government Gui'an New Area project, BMW, Groupe Renault, DIG, Kuehne + Nagel, China Unicom, NRCC - State Tobacco, MLILY, Sunshine culture, Hubei Sanxin Cultural Media, Fanghuwang, YIDA future, Madeforgoods and iTaotaoke. Each of these partnerships deserve a detailed post on their own, they are all available on VeChain's Medium page. Taken together, it becomes clear what type of Ecosystem VeChainThor is trying to build.
Jiangsu Printed Electronics and Xiamen Innov Information Technology are technology partners and I suspect will be mass producing the RFID/NFC chips.
Breyer Capital and Fenbushi capital are the two featured investors on VeChain's website. Jim Breyer generally makes some pretty smart investment decisions. His only other crypto investments are Circle and Ethereum.
Bonus news: This week they are presenting with DNV-GL a cold chain supply chain solution at the Global Food Safety Initiative conference 2018. Zoom in and you'll see VeChain Intelligent Control Display System. DNV-GL have also launched their new digital assurance solution, My Story™. Four top Italian wine producers are using My Story™ under supervision of the Italian wine authorities. Twitter and DNVGL link.

China's potential

China is widely known to be anti-cryptocurrency but extremely pro-blockchain. China's "13th Five year plan 2016-2020" focuses on moving up in the value chain by abandoning old heavy industry and building up bases of modern information-intensive infrastructure, with blockchain and Smart Cities being a key technological focus. VeChain has achieved approval from the Government of the People's Republic of China with Gui'an New Area project, multiple mentions on state owned media (CCTV) and deals with state owned enterprises (China Tobacco). China will not fall behind in the international Blockchain race, they will finalise regulations and adopt Blockchain rapidly in the coming years. VeChain appears to be one of the leaders in the field, with their largest office in Shanghai and existing government connections.

Leader in the field

Last but not least, VeChain is leading the field in a number of areas.
  1. Academic research: VeResearch with Michigan State University #1 for supply chain management and another university to be announced
  2. Transparency: quarterly financial reports, regular social media updates, multiple AMAs, response to cryptocurrency ban, directly addressing FUD in official Telegram channels
  3. Corporate responsibility: cryptocurrency disaster recovery plan
  4. Environmental responsibility: Carbon bank initiative with DNV-GL

Skeptics section

In the interests of balanced discussion, I will update this section with skepticism I find in the comments below.
  1. "No whitepaper"
    • VeChain are working on a Whitepaper as part of their Q1 2018 goals. Information normally found in a Whitepaper has been made available through the development plan. I'm actually not too fussed about not having a whitepaper. For me evidence of enterprise adoption is a more useful indicator of how successful VeChainThor could be.
  2. "No official wallet" "No Mainnet"
    • VeChainThor has been operating as a private blockchain since June 2016. Public VeChainThor Blockchain Launch, VeChain Wallet with VeThor Forge Function will be released in Q2 2018 according to the roadmap.
  3. "VeChain are dumping their VET on the open market"
  4. "Can we talk about the fact that the BMW "partnership" is not really a partnership? VEN is allowed to participate into a startup program hosted by BMW. BMW is not a client. http://www.bmwstartupgarage.com/partner " - u/DutchDolt
    • "BMWstartupgarage" has neither been confirmed or denied by BMW or VeChain, it has been spread by a youtuber called "Crypto Gem"
    • Going to the website linked, BMW refers to successful participants as both partners and clients
    • This is still a developing partnership with details under NDA, however the VeChain/BMW link has been confirmed at the VeChain rebranding event and by Sarah VeChain Country Manager
  5. "Vote manipulation" "Shilling" "Brigading" "You're a paid shiller"
    • In the past VeChain Telegram Moderators wilfully participated in brigading, leading to the ban on the word "VeChain" for 30 days in cryptocurrency
    • It is difficult to differentiate manipulated behaviour and organic behaviour on Reddit, the moderators here do an amazing job getting rid of spam and detecting vote manipulation
    • The Official VeChain Foundation has stepped in to help Reddit moderators prevent VeChain vote manipulation
    • Official Telegram Rules: Brigading & Reddit links: We have a new policy regarding Reddit and 'brigading'. No brigading of any kind will be allowed. If you want to post a Reddit link, do so with the "np." prefix added to its URL, for example "np.reddit.com /CryptoCurrency". No spamming for upvotes, as it hurts both of our communities.
    • This is strictly enforced by Telegram moderators and results in a warning then an insta-ban for repeat offenders
    • https://imgur.com/a/sOva9 is being copy-pasted en masse by detractors as evidence of brigading
    • Image shows Boxminig feeling sorry for WTC PR team and a "np" link to a different thread
    • I wish I got paid to shill VeChain, I made this post to share a fundamentally strong crypto with the community _________________________________________________________________________________________

An interesting perspective supported by CEO Sunny Lu

NTSpike: VeChain Thor Is Positioning to Become THE #1 Enterprise dApp Platform, and Here's Why - A Systems Analyst's Perspective
Disclaimer: My holdings are 80% VEN and remainder in NEO, WTC, TKY, XRB, AMB
submitted by enozym111 to CryptoCurrency [link] [comments]

Bitcoin (BTC) Has Seen One Major Rally During Each Block Reward Era

Bitcoin (BTC) Has Seen One Major Rally During Each Block Reward Era

https://preview.redd.it/lf7p0zqyn5d21.png?width=600&format=png&auto=webp&s=09a9c48586f96f1dda44b4a1af2d69b8bf57aa4f
https://cryptoiq.co/bitcoin-btc-has-seen-one-major-rally-during-each-block-reward-era/
So far, there have been 3 block reward eras for Bitcoin (BTC). The first era started with the genesis block in early January 2009, and there were 50 Bitcoin per block. The second era began at block 210,000 in late November 2012, and the block reward halved to 25 Bitcoin. The third era, which we are in as of this writing, began at block 420,000 in early July 2016. The block reward is now 12.5 Bitcoin.
When we overlay block reward halving dates on a logarithmic chart of Bitcoin’s price (below), it becomes apparent that there has been one major rally during each block reward era, at least so far. Further, roughly a year before the block halving that begins the era, the major rally of that era begins.

Source: @MoonOverlord on Twitter
As can be seen in the above chart the Bitcoin rally of late 2013 which brought Bitcoin over $1,000 for the first time occurred towards the middle of the 2nd era, and the rally to $20,000 in late 2017 occurred near the middle of the third era.
The fourth block reward era, when block rewards will be slashed to 6.25 Bitcoin, will start at block 630,000, projected to occur in May 2020. If the trend in the above chart continues, Bitcoin would bottom in late Spring or early Summer 2019 and then rally for one to two years to new all-time highs.
There may be some causation to this correlation. We expect that block halvings would help increase Bitcoin’s price since the rate of creation from mining is slashed. That means the Bitcoin inflation rate is halved. In the presence of increasing demand, the halving of the inflow of new Bitcoin would increase its price.
That said, there are many other factors that influence Bitcoin’s market cycles, making it perhaps overly simplistic to say that Bitcoin’s past two market cycles have been entirely due to the block halving. This correlation could be a coincidence.
It’s worth noting, however, that the rally of late 2013 ended as Mt. Gox collapsed, and the rally of 2017 ended as CME Bitcoin futures were launched and introduced massive short selling pressure.
Nonetheless, traders and investors pricing in the next block halving may apply upward pressure on Bitcoin’s price when May 2020 approaches. It will be interesting to see if history repeats itself and Bitcoin sees new all-time highs during the fourth block reward era.
submitted by turtlecane to Bitcoin [link] [comments]

Subreddit Stats: CryptoTechnology top posts from 2017-12-23 to 2020-01-20 15:51 PDT

Period: 758.36 days
Submissions Comments
Total 956 13660
Rate (per day) 1.26 18.01
Unique Redditors 584 3144
Combined Score 21553 44566

Top Submitters' Top Submissions

  1. 1166 points, 43 submissions: Neophyte-
    1. "Do you need a Blockchain?" - this paper is fantastic, everyone should read this before evaluating a coin and if requires a block chain to solve a solution the coin is promising to solve. (136 points, 41 comments)
    2. Do any of you foresee a crypto being widely adopted as a general purpose payment coin? nano, btc, btccash etc (take your pick). I think it won't happen for reasons in this post. What do you think? (59 points, 54 comments)
    3. Noticed the huge rise of EOS lately what does it have over NEO and ethereum and to a lesser extent Cardano? I tried researching it, but wasn't sold. (54 points, 55 comments)
    4. Hard Problems in Cryptocurrency: Five Years Later ~Vitalik (46 points, 1 comment)
    5. I had a Q&A with Bruno head architect / CEO of oyster, thought you guys might like it. (45 points, 2 comments)
    6. A good article that explains in simple terms how Eth2 works, how it will be rolled out and migrated from eth1 (42 points, 4 comments)
    7. DAI the stablecoin can now be transferred GAS free (article explaining how it works via new MCD DAI contract). This holds alot of promise for the so called "Web3" (40 points, 8 comments)
    8. Veriblock is consuming 27% of bitcoins block space - what does this mean for bitcoins future? (39 points, 16 comments)
    9. Vitalik: Alternative proposal for early eth1 <-> eth2 merge (38 points, 3 comments)
    10. Is launching a PoW permissionless blockchain still possible today? or would it be too susceptible to a 51% attack? (37 points, 37 comments)
  2. 578 points, 16 submissions: crypto_ha
    1. Why is Ripple considered a cryptocurrency (by many)? (109 points, 63 comments)
    2. So reportedly there are serious vulnerabilities found in EOS’ code. And it seems like those are more than just random software bugs. (97 points, 29 comments)
    3. Guide: How to get started with Blockchain development? (60 points, 6 comments)
    4. A newly found vulnerability in Nano's Android wallet (44 points, 12 comments)
    5. The history and state of Ethereum's Casper research - Vitalik Buterin (39 points, 4 comments)
    6. What is the difference between Sidechain vs Child Chain vs Off Chain? (39 points, 12 comments)
    7. EOS mainnet is official live (finally), but... (36 points, 24 comments)
    8. Bitcoin's "doomsday" economics - Bank of International Settlements (34 points, 23 comments)
    9. How Wall Street’s embrace could undermine Bitcoin (30 points, 9 comments)
    10. Ethereum ERC 1497: DApp Dispute Evidence Standard (24 points, 0 comments)
  3. 513 points, 20 submissions: ndha1995
    1. Ethereum Classic is currently being 51% attacked (103 points, 31 comments)
    2. Why are there so many garbage posts the past 24 hours? (58 points, 10 comments)
    3. Google Unveils 72-Qubit Quantum Processor With Low Error Rates (48 points, 24 comments)
    4. IOTA's Network-Bound PoW consensus, is it feasible? (42 points, 13 comments)
    5. The Challenges of Investigating Cryptocurrencies and Blockchain Related Crime (29 points, 7 comments)
    6. Deep dive into zk-STARKs with Vitalik Buterin's blog posts (26 points, 3 comments)
    7. Tether discussion thread (26 points, 21 comments)
    8. Vitalik Buterin Proposes a Consensus Algorithm That Requires Only 1% to Be Honest (24 points, 8 comments)
    9. Can somebody compare Qtum vs. NEO, technology-wise? (E.g. PoS vs. PoW; smart contract protocols...) (21 points, 15 comments)
    10. Introduction to Non Fungible Tokens (NFTs) (21 points, 9 comments)
  4. 377 points, 16 submissions: turtleflax
    1. Around 13% of DASH's privateSends are traceable to their origin (69 points, 3 comments)
    2. "Big Bang" attack could leverage Monero's dynamic blocksize to bloat the blockchain to 30TB in only 36 hours (52 points, 3 comments)
    3. The case for the obsolescence of Proof of Work and why 2018 will be the year of Proof of Stake (41 points, 29 comments)
    4. Monero vs PIVX: The First Scheduled Privacy Coin Debate Thread on /CryptoCurrency (38 points, 12 comments)
    5. Introducing the Privacy Coin Matrix, a cross-team collaboration comparing 20 privacy coins in 100 categories (26 points, 25 comments)
    6. Do permissioned blockchains have any merits? (25 points, 23 comments)
    7. The State of Hashing Algorithms — The Why, The How, and The Future (21 points, 4 comments)
    8. How Zerocoin Works in 5 Minutes (19 points, 5 comments)
    9. Errors made by Satoshi (17 points, 8 comments)
    10. How Much Privacy is Enough? Threats, Scaling, and Trade-offs in Blockchain Privacy Protocols - Ian Miers (Cornell Tech, Zerocoin, Zerocash) (17 points, 4 comments)
  5. 321 points, 6 submissions: Qwahzi
    1. Technical comparison of LIGHTNING vs TANGLE vs HASHGRAPH vs NANO (133 points, 37 comments)
    2. Addressing Nano's weaknesses (bandwidth usage and disk IO). Nano voting traffic to be reduced by 99.9% by implementing vote by hash, lazy bootstrapping, and reduced vote rebroadcasting (x-post CryptoCurrency) (78 points, 8 comments)
    3. Emergent centralization due to economies of scale (PoW vs DPoS) – Colin LeMahieu (52 points, 37 comments)
    4. Nano community member developing a distributed "mining" service to pay people to do PoW for third-parties (e.g. exchanges, light wallet services, etc) (32 points, 20 comments)
    5. What do you think about OpenCAP, the cryptocurrency alias protocol that mirrors traditional email addresses? (15 points, 12 comments)
    6. Bitcoin would be a calamity, not an economy (11 points, 52 comments)
  6. 256 points, 4 submissions: rockyrainy
    1. Bitcoin Gold hit by Double Spend Attack (51% attack). The Attacker reversed 22 blocks. (179 points, 102 comments)
    2. ZK-starks white paper published (44 points, 16 comments)
    3. [Q] How does a network reach consensus on what time it is? (21 points, 17 comments)
    4. Stateless (no history) Cryptocurrency via snapshots? (12 points, 7 comments)
  7. 244 points, 3 submissions: HSPremier
    1. From a technical standpoint: Why does every blockchain projects need their own coins? (181 points, 50 comments)
    2. What is Reddit's obsession with REQ? (61 points, 43 comments)
    3. What is the technological difference between a privacy coin and a privacy coin platform? Won't a privacy coin platform be more superior than a privacy coin? (2 points, 3 comments)
  8. 234 points, 2 submissions: Realness100
    1. A Guided Reading of Bitcoin’s Original White Paper (202 points, 10 comments)
    2. A Guided Reading of Ethereum's Original White Paper! (32 points, 5 comments)
  9. 185 points, 4 submissions: tracyspacygo
    1. My brief observation of most common Consensus Algorithms (159 points, 49 comments)
    2. What are the main Trends/Challenges for Bitcoin and whole crytpocurrencies industry? (12 points, 33 comments)
    3. Guideline for Newbies: Trying out Bitcoin transactions with TESTNET (7 points, 1 comment)
    4. Most advanced Cryptocurrencies Comparison Table (7 points, 8 comments)
  10. 177 points, 9 submissions: benmdi
    1. What's the best argument against cryptotechnology? I.e. Steelman the cryptocurrency skeptic (43 points, 42 comments)
    2. Would there be interest from this community in crypto resources aimed at developers? If so, what topics? (29 points, 14 comments)
    3. Has the window for bootstrapping a new PoW coin closed? (24 points, 57 comments)
    4. What can we, as a community, learn from the rise & acquisition of GitHub (23 points, 8 comments)
    5. 🍱 Rollup Roundup: Understanding Ethereum's Emerging Layer 2 (19 points, 1 comment)
    6. Video Tutorial: Introducing An Experience Dev To Smart Contract Coding (17 points, 3 comments)
    7. Do we need a blockchain to be decentralized? What questions would you ask a self described fan of decentralization, but blockchain skeptic? (11 points, 19 comments)
    8. ETH Block Rewards And Second Order Effects On Hardware Availability (7 points, 8 comments)
    9. Which Of The Big Tech Companies Is Most Likely To Bring Crypto Mainstream? Here's Why I Think It's Apple (4 points, 7 comments)
  11. 175 points, 9 submissions: galan77
    1. Is the Lightning Network a massive threat to the blockchain? (49 points, 66 comments)
    2. TPS of Lightning Network vs. Sharding, which one does better? (28 points, 7 comments)
    3. Are there any major downsides to sharding? (21 points, 33 comments)
    4. What's the difference between trustlessness and permissionlessness (19 points, 7 comments)
    5. Which consensus algorithm is the best, PoW, PoS, PoAuthority, PoAsset? (18 points, 57 comments)
    6. How can XRP reach 50,000 TPS when they have no sharding and every node has to validate every single transaction. (15 points, 14 comments)
    7. A few questions about the Lightning Network (14 points, 6 comments)
    8. Pascalcoin can do 72,000 tps apparently. Is this legit? The new Nano? (8 points, 39 comments)
    9. How does Ripple's (XRB's) consensus algorithm Proof of Correctness work, are there any downsides? (3 points, 23 comments)
  12. 175 points, 1 submission: ilielezi
    1. Why white papers in crypto world are so unprofessional? (175 points, 88 comments)
  13. 165 points, 6 submissions: CryptoMaximalist
    1. Facebook's Libra (48 points, 55 comments)
    2. “Fake Stake” attacks on some Proof-of-Stake cryptocurrencies responsibly disclosed by researchers from the Decentralized Systems Lab at UIUC (31 points, 9 comments)
    3. Quantum Computing and the Cryptography in Crypto (27 points, 14 comments)
    4. PING and REJECT attacks on ZCash (Patch available) | Stanford Applied Crypto Group (22 points, 1 comment)
    5. Introduction to Cryptography: Part 1 - Jinglan Wang (19 points, 1 comment)
    6. New site howmanyconfs.com shows the amount of time and confirmations of Proof of Work coins to match 6 confirmations on Bitcoin (18 points, 11 comments)
  14. 163 points, 10 submissions: GainsLean
    1. Videos For Developers Who Want To Learn Blockchain In A Practical Way (36 points, 17 comments)
    2. What Do You Want To Learn? (32 points, 20 comments)
    3. Get Involved With The Smart Contract Coding Challenge (25 points, 4 comments)
    4. Solution To $10K Art Prize (25 points, 3 comments)
    5. Blockchain Course Outline Has Been Released - Feedback warranted (22 points, 12 comments)
    6. Introduction To Distributed Systems And Consensus Protocols (9 points, 2 comments)
    7. Are there any closed source crypto wallets? (4 points, 19 comments)
    8. Are there any successful proof of identity projects? (4 points, 8 comments)
    9. SPV Wallets Vs API Wallets (4 points, 1 comment)
    10. 12 Popular Consensus Algorithms - Explained (2 points, 0 comments)
  15. 163 points, 7 submissions: QRCollector
    1. Part 5. I'm writing a series about blockchain tech and possible future security risks. This is the fifth part of the series talking about an advanced vulnerability of BTC. (43 points, 43 comments)
    2. I'm writing a series about blockchain tech and possible future security risks. This is the third part of the series introducing Quantum resistant blockchains. (36 points, 4 comments)
    3. Part 4B. I’m writing a series about blockchain tech and possible future security risks. This is the fourth part of the series explaining the special quality of going quantum resistant from genesis block. (25 points, 21 comments)
    4. Part 6. (Last part) I'm writing a series about blockchain tech and possible future security risks. Failing shortcuts in an attempt to accomplish Quantum Resistance (24 points, 38 comments)
    5. I'm writing a series about blockchain tech and possible future security risks. This is the first part of the series introducing the basic concept of blockchain and what makes it reliable. (23 points, 10 comments)
    6. I'm writing a series about blockchain tech and possible future security risks. This is the fourth part of the series explaining the special quality of going quantum resistant from genesis block. (7 points, 1 comment)
    7. Part 2. I'm writing a series about blockchain tech and possible future security risks. This is the second part of the series: An accessible description of hashing and signature schemes. (5 points, 0 comments)
  16. 162 points, 3 submissions: FashionistaGuru
    1. How do we change the culture around cryptocurrency? (118 points, 54 comments)
    2. Which cryptos have the best new user experience? (30 points, 34 comments)
    3. Why does Apple prevent many crypto apps from entering the App Store? (14 points, 8 comments)
  17. 157 points, 7 submissions: SamsungGalaxyPlayer
    1. Breaking Monero Episodes 1-3: Introduction, Ring Signatures, 0-Decoy and Chain Reactions (45 points, 1 comment)
    2. "No, dPoW Isn't a Perfect Solution" (35 points, 48 comments)
    3. Breaking Mimblewimble’s Privacy Model - Dragonfly Research (27 points, 10 comments)
    4. Breaking Monero (and Zcash) Episodes 7-9: Remote Nodes, Timing Attacks, Poisoned Outputs (EAE Attack) (21 points, 2 comments)
    5. "Attacker Collection of IP Metadata" (18 points, 10 comments)
    6. "Tracing Transactions Across Cryptocurrency Ledgers" Using Shapeshift and Changelly (6 points, 4 comments)
    7. Breaking Monero Episodes 4-6: Chain Splits (Key Image Attack), Input Selection Algorithm, Unusual Ringsize (5 points, 2 comments)
  18. 147 points, 1 submission: shunsaitakahashi
    1. Proof-of-Approval: Stake Based, 1 Block Finality & History Attack Defense (147 points, 4 comments)
  19. 146 points, 6 submissions: themoderndayhercules
    1. "The selfish mining fallacy" explained and debunked (60 points, 8 comments)
    2. A Discussion of Stable coins and Decentralized Oracles (35 points, 8 comments)
    3. A Selfish Mining Double Spending attack Simulator (25 points, 2 comments)
    4. Why reputation systems don't work (15 points, 12 comments)
    5. A better incentivization for Swarm (6 points, 0 comments)
    6. When Mises met Szabo - A Discussion of the value of Bitcoin (5 points, 16 comments)
  20. 143 points, 7 submissions: KomodoWorld
    1. Komodo Platform's core developer and founder jl777 has started his own blog on Medium. The blog is aimed for senior developers who want to learn about blockchain. (46 points, 15 comments)
    2. Delayed Proof of Work (dPoW) security explained (36 points, 46 comments)
    3. Proof-of-Gameplay (19 points, 3 comments)
    4. Good guide for getting started with the Custom Consensus tech for Komodo-based blockchains (17 points, 0 comments)
    5. Cross-chain migration of coins with Crypto Conditions - by smk762 (12 points, 0 comments)
    6. A step-by-step example of working with a Crypto Conditions based Oracle - by smk762 (10 points, 0 comments)
    7. Changing consensus rules on the fly with Crypto Conditions (3 points, 0 comments)
  21. 141 points, 8 submissions: Stormy1997
    1. What technical/business advantages does a private blockchain have over a SQL server? (49 points, 79 comments)
    2. Is sharding to scale bad? (24 points, 28 comments)
    3. How would one create a fiat gateway theoretically? (19 points, 19 comments)
    4. Looking for Stellar smart contract/side chain code examples (16 points, 1 comment)
    5. Question - Securing personal information on a centralized server with user-owned keys (13 points, 3 comments)
    6. How do blockchains/smart contracts communicate with oracles? (10 points, 4 comments)
    7. Bandwidth scaling for TPS (8 points, 2 comments)
    8. Best method to transmit detailed data between two parties via existing platforms (2 points, 1 comment)
  22. 141 points, 3 submissions: seventyfiver
    1. Why does Ethereum use Solidity while other ecosystems like NEO stick with popular ones like Java and C#? (94 points, 26 comments)
    2. Chainlink's initial Go implementation went live this morning. Has anyone reviewed the code and can comment on it's quality? (40 points, 3 comments)
    3. What are some great books on cryptoeconomics or blockchain technology? (7 points, 4 comments)
  23. 134 points, 6 submissions: johnny_milkshakes
    1. Sub dedicated to DAG based coins (42 points, 8 comments)
    2. Thoughts on this? (28 points, 38 comments)
    3. This is very interesting (24 points, 19 comments)
    4. Educational presentation by Clara Shikhelman (18 points, 0 comments)
    5. Ethics question. (12 points, 40 comments)
    6. How to scale on chain? (10 points, 30 comments)
  24. 127 points, 4 submissions: sukitrebek
    1. What are you currently obsessed with, and why? (58 points, 150 comments)
    2. Crypto-based social network without a cryptocurrency. (42 points, 23 comments)
    3. How does underlying architecture affect what kinds of applications are possible? (17 points, 3 comments)
    4. Holochain vs. Radix DLT (10 points, 11 comments)
  25. 126 points, 1 submission: RufusTheFirefly
    1. Everytime I try to investigate the technology behind Cardano(Ada), I come across the words "scientific" and "peer-reviewed" over and over but almost no actual details. Can someone fill how this coin actually works and where they are in development? (126 points, 49 comments)
  26. 112 points, 1 submission: rocksolid77
    1. Can we have a real debate about the Bitcoin scaling issue? (112 points, 89 comments)
  27. 110 points, 4 submissions: kelluk
    1. What one can learn from browsing 30 million Ethereum addresses (72 points, 21 comments)
    2. I wanted to categorize all coins/tokens, and this is my proposal (23 points, 33 comments)
    3. Should whitepapers be understood by ordinary people? (10 points, 41 comments)
    4. Querying the Ethereum blockchain: how to & what to? (5 points, 5 comments)
  28. 107 points, 1 submission: NewDietTrend
    1. Outside of currency and voting, blockchain is awful and shouldnt be used. Can anyone explain where blockchain is worth the cost? (107 points, 166 comments)
  29. 105 points, 1 submission: insette
    1. /CryptoTech PSA: there are broadly TWO TYPES of Decentralized Exchanges. Which type are you investing in? (105 points, 55 comments)
  30. 103 points, 3 submissions: dtheme
    1. How to accept crypto payments for digital downloads if you are a small business? Solutions, e-commerce sites are lacking (46 points, 38 comments)
    2. How many 24 letter seeds and "Bitcoin" keys can there be? (34 points, 24 comments)
    3. Is there any reason why the big tech companies are not getting into crypto? (23 points, 36 comments)
  31. 103 points, 3 submissions: dvnielng
    1. Why do so many of these businesses need a token? (Unsure) (61 points, 86 comments)
    2. DAPPS - Only coins that have intrinsic value? Ethereum , Neo? (31 points, 10 comments)
    3. How could blockchain work for expensive purchases/escrow? (11 points, 2 comments)
  32. 101 points, 1 submission: kickso
    1. Is NANO everything it says it is? (101 points, 96 comments)
  33. 98 points, 3 submissions: heart_mind_body
    1. How can we breathe some life into this sub? (56 points, 22 comments)
    2. Can anyone give an example for a technology that provides a "public permissioned blockchain"? (28 points, 16 comments)
    3. Can we do a discussion on ICON and "clusters of private chains connected to a public chain" ? (14 points, 13 comments)
  34. 97 points, 8 submissions: kelraku
    1. Thoughts on Mimblewimble? (23 points, 13 comments)
    2. Has anyone looked at the lelantus protocol? (18 points, 6 comments)
    3. How much control do developers have over the coins (18 points, 6 comments)
    4. Lesser known protocols? (11 points, 17 comments)
    5. Zerocoin and Blockchain Analysis (9 points, 5 comments)
    6. Zerocoin vs Cryptonote (7 points, 14 comments)
    7. Lightning network privacy (6 points, 13 comments)
    8. Integrity of the DAG (5 points, 17 comments)
  35. 96 points, 6 submissions: blockstasy
    1. How to Get to One Million Devs (32 points, 12 comments)
    2. The Decade in Blockchain — 2010 to 2020 in Review (27 points, 4 comments)
    3. Ethereum by the Numbers – The Year of 2019 (26 points, 9 comments)
    4. Knowledge Drop: Mining and the role it plays with the Ethereum blockchain (5 points, 0 comments)
    5. A great article that explains Ethereum’s Muir Glacier Update (4 points, 0 comments)
    6. Youtube Silences Crypto Community (2 points, 6 comments)
  36. 93 points, 3 submissions: OneOverNever
    1. Which is the last WHITE PAPER you've read that's truly impacted you? (77 points, 81 comments)
    2. [CMV] Bitcoin's intrinsic technological value. (14 points, 29 comments)
    3. What are some weak points that still hold XVG back from becoming a top player in crypto? (Technically speaking, not marketing and etc.) (2 points, 19 comments)
  37. 93 points, 3 submissions: ryano-ark
    1. (ARK) ACES Completes Integration of ARK Channels for Two-way Transfers for Easy ICOs When Paired With ARK Deployer (Push-Button-Blockchains) (57 points, 5 comments)
    2. (ARK) ACES Releases Fast (Ansible) Deployments for all ACES Applications. (23 points, 4 comments)
    3. A Future of Cryptocurrencies and Blockchains (13 points, 3 comments)
  38. 92 points, 2 submissions: BobUltra
    1. Our blockchains are all centralized! (51 points, 34 comments)
    2. List of qualities needed to dethrone Bitcoin. (41 points, 43 comments)
  39. 90 points, 1 submission: refreshx2
    1. CMV: It doesn't make sense for (crypto)companies to create coins linked to their tech (90 points, 18 comments)
  40. 89 points, 1 submission: perceptron01
    1. What does Nano do better than Steem? (89 points, 55 comments)
  41. 87 points, 1 submission: Shuk
    1. How does one begin to develop an employable skill in blockchain development? (87 points, 25 comments)
  42. 87 points, 1 submission: conorohiggins
    1. I spent three weeks researching and writing a huge guide to stablecoins. Enjoy! (87 points, 36 comments)
  43. 86 points, 1 submission: Bacon_Hero
    1. ELI5: Why did it take so long for blockchain technology to be created? (86 points, 66 comments)
  44. 85 points, 3 submissions: theFoot58
    1. If crypto now is like 'the Internet' of the past, where are we? (65 points, 53 comments)
    2. If the Internet had its Genesis Block, what would it be? (14 points, 9 comments)
    3. Coin grouping - ruby and CryptoCompare API (6 points, 1 comment)
  45. 85 points, 1 submission: youngm2
    1. Which decentralised exchange has the most promise for 2018? (85 points, 89 comments)
  46. 84 points, 4 submissions: bLbGoldeN
    1. On Mass Adoption of Cryptocurrencies (28 points, 68 comments)
    2. Join the Bloom team for our first tech AMA tomorrow (Tuesday, March 13th) at 7 PM GMT! (23 points, 2 comments)
    3. Join the Decred team for an AMA - Friday, June 1st from 19:00 to 22:00 UTC (17 points, 10 comments)
    4. Join the district0x team for an AMA Monday, April 2nd at 5:00 PM (GMT) (16 points, 0 comments)
  47. 82 points, 2 submissions: SubsequentDownfall
    1. Has a 51% attack ever been witnessed? (45 points, 46 comments)
    2. Is a DAG coin like RaiBlocks able to be private like Monero? (37 points, 40 comments)
  48. 82 points, 2 submissions: guidre
    1. Tron and other source Code (42 points, 24 comments)
    2. Why Will companies adopt blockchain, the user interface is complex and i'm not sure that many companies want all their internal dealings made public. (40 points, 19 comments)
  49. 81 points, 4 submissions: solar128
    1. New Atomic Swap Tools Released (35 points, 4 comments)
    2. Using Blockchain to make a censorship-resistant Reddit (28 points, 14 comments)
    3. Best security practices for addressing Spectre & Meltdown (13 points, 0 comments)
    4. Influence of on-chain governance weighted by wealth - good or bad? (5 points, 2 comments)
  50. 81 points, 2 submissions: Blockchainsapiens
    1. Blockchain study finds 0.00% success rate and vendors don't call back when asked for evidence (47 points, 30 comments)
    2. The elephant in the room: would the public ever use a volatile currency over a stable currency? (34 points, 45 comments)
  51. 81 points, 1 submission: Mycryptopedia
    1. Understanding the Tech Behind RaiBlocks (81 points, 7 comments)
  52. 81 points, 1 submission: davidvanbeveren
    1. Article thoroughly analysing / comparing IOTA and RaiBlocks (x-post /CryptoCurrency) (81 points, 10 comments)
  53. 77 points, 4 submissions: DeleteMyOldAccount
    1. HD Wallets Explained: What they are, and how to make them coin agnostic (28 points, 11 comments)
    2. Bitcoin Cash May 15th fork (23 points, 22 comments)
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  58. 74 points, 1 submission: behindtext
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Top Comments

  1. 160 points: holomntn's comment in ELI5: Why did it take so long for blockchain technology to be created?
  2. 121 points: KnifeOfPi2's comment in How do we change the culture around cryptocurrency?
  3. 105 points: theglitteringone's comment in Outside of currency and voting, blockchain is awful and shouldnt be used. Can anyone explain where blockchain is worth the cost?
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  5. 96 points: pegasuspect93's comment in If crypto now is like 'the Internet' of the past, where are we?
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  8. 82 points: deleted's comment in Is blockchain really useful ?
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  10. 78 points: NoFaptain99's comment in Why do so many of these businesses need a token? (Unsure)
Generated with BBoe's Subreddit Stats
submitted by subreddit_stats to subreddit_stats [link] [comments]

Vitalik's response to Tuur

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

What is Bitcoin? Bitcoin Explained Simply for Dummies ... My Target Bitcoin Buy-In Price Is Bitcoin in a Bearmarket now? What are Whales doing? What is Bitcoin MimbleWimble? Programmer explains. Someone Is Buying TONS of Bitcoin and It’s NOT Who You Think! The ONE Chart No One is Talking About!

Bitcoin price today is $13,073.32 USD with a 24-hour trading volume of $23,603,626,066 USD. Bitcoin is up 0.48% in the last 24 hours. The current CoinMarketCap ranking is #1, with a market cap of $242,210,721,011 USD. It has a circulating supply of 18,527,100 BTC coins and a max. supply of 21,000,000 BTC coins. Bitcoin's market cap dropped from around 290 billion in the first week of Januray to 111 billion on April 1st, 2018. According to Coinmarketcap.com, as of April 2nd 2018 the total capitalization of the cryptocurrency market was around 263 billion US dollars, spanning 1,596 different coins, Bitcoin dominating 45.5% of the total market with a market cap of USD$119.5 billion. Ethereum was coming ... TOM Tor Onion Market – Advanced secure bitcoin market for drugs. OnionShop – New anonymous and secure marketplace selling drugs, weapons… Topina – Marketplace with bitcoin multi-sig escrow. Drugs, weapons,credit card and more. Hosting / Web / File / Image. TorWeb The largest hosting company on TOR. Offering webhosting and VPS packages; Tor Host – Hidden Service Hosting with SSH login Bitcoin Trading Bots: was so einfach klingt, ist es möglicherweise auch. Mittlerweile gibt es eine große Auswahl an Bitcoin Bots, die für die automatische Nutzung von Trading-Signalen genutzt werden können. Bitcoin Revolution, Crypto Code und CryptoSoft sind die drei bekanntesten Lösungen, die im World Wide Web inzwischen heiß diskutiert werden. Doch welcher Bitcoin-Bot ist der beste ... Over the last week, Bitcoin's price has risen slightly due to the rise of the overall crypto market and the surge of DeFi. Bitcoin's price made a weak charge, going up 3.53% over the last 7 days. Source: Binance. As reported by Blockchain.News, Bitcoin has fluctuated in the horizontal channel above since its crash. Bitcoin's high was at $10,627 on the following day after it plunged on Sep. 3 ...

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What is Bitcoin? Bitcoin Explained Simply for Dummies ...

Someone is buying TONS of #BITCOIN and it’s NOT who you think. Mike Novogratz compares crypto hype to a drug, Swiss Bitcoin ETP volume up massively, analyzing market cycles and psychology, more ... Here's the price point at which I'll purchase some more Bitcoin with the cash that I have set aside. Let me know what you think and what you think the ultimate "bottom" price of Bitcoin will be ... Cardano Better Than Bitcoin, ETH 2.0 Phase 0, Bank / ATM Limits & Do You Have At Least 1 Bitcoin? - Duration: 30:03. The Modern Investor 10,462 views. New; 30:03. How to Trade Options on Robinhood ... Hat dir das Video gefallen? Gib mir nen DAUMEN HOCH bzw. TEILE dieses Video um gemeinsam AT, DE und CH #cryptofit zu machen! Kein Video mehr verpassen? A... KW 43: Bitcoin Kurs Rekordanstieg & die Hintergründe BTC Achterbahn Bakkt Knaller Quantencomputer Inhaltsverzeichnis: 0:45 - Markt Update 4:35 - Bitcoi...

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