US State Shuts Down Cryptocurrency Mining Company

Bitcoin Price Decline Prompts US Mining Firm to Shut Down ‘Indefinitely’

Bitcoin Price Decline Prompts US Mining Firm to Shut Down ‘Indefinitely’ submitted by a36 to AllThingsCrypto [link] [comments]

Bitcoin Price Decline Prompts US Mining Firm to Shut Down ‘Indefinitely’

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Proposed Bitcoin Regulation “BitLicense” Could Shut Down Mining And Bitcoin Businesses In The US

Proposed Bitcoin Regulation “BitLicense” Could Shut Down Mining And Bitcoin Businesses In The US submitted by Y3llowb1ackbird to Bitcoin [link] [comments]

Flatten the Curve. #18. The current cold war between China and America explained. And how China was behind the 2008 Wall Street financial Crash. World War 3 is coming.

China, the USA, and the Afghanistan war are linked. And in order to get here, we will start there.
9-11 happened. Most of the planet mistakenly understood terrorists had struck a blow against Freedom and Capitalism and Democracy. It was time to invade Afghanistan. Yet all of the terrorists were linked to Saudi Arabia and not Afghanistan, that didn't make sense either. Yet they invaded to find Bin Laden, an ex CIA asset against the Soviet Union and it's subjugation of Afghanistan. The land in the middle of nowhere in relation to North America and the West. It was barren. A backwater without any strategic importance or natural resources.
Or was there?
The survey for rare earth elements was only made possible by the 2001 U.S. invasion, with work beginning in 2004. Mirzad says the Russians had already done significant surveying work during their military occupation of the country in the 1980s. Mirzad also toes the line for U.S. corporations, arguing, “The Afghan government should not touch the mining business. We have to give enough information to potential investors.”
Rare Earth Elements. The elements that make the information age possible. People could understand the First Gulf War and the Geopolitical importance of oil. That was easy, but it still didn't sound morally just to have a war for oil. It was too imperialist and so they fell in line and supported a war for Kuwaiti freedom instead, despite the obvious and public manipulation at the UN by Nayirah.
This is some of her testimony to the Human Rights Council.
While I was there, I saw the Iraqi soldiers come into the hospital with guns. They took the babies out of the incubators, took the incubators and left the children to die on the cold floor. It was horrifying. I could not help but think of my nephew who was born premature and might have died that day as well. After I left the hospital, some of my friends and I distributed flyers condemning the Iraqi invasion until we were warned we might be killed if the Iraqis saw us.
The Iraqis have destroyed everything in Kuwait. They stripped the supermarkets of food, the pharmacies of medicine, the factories of medical supplies, ransacked their houses and tortured neighbors and friends.
There was only one problem. She was the daughter of Saud Al-Sabah, the Kuwaiti ambassador to the United States. Furthermore, it was revealed that her testimony was organized as part of the Citizens for a Free Kuwait public relations campaign, which was run by the American public relations firm Hill & Knowlton for the Kuwaiti government (fun fact, Hill & Knowlton also have extensive ties with Bill Gates).
So the public was aghast at her testimony and supported the war against the mainly Soviet backed, but also American supported and Soviet backed Saddam Hussein, in his war against Iran, after the Iranians refused to Ally with American interests after the Islamic Revolution.
But that was oil, this was Rare Earth Elements. There was a reason the war was called, Operation Enduring Freedom. This natural resource was far more important in the long run. You couldn't have a security surveillance apparatus without it. And what was supposed to be a war on terror was in actuality a territorial occupation for resources.
Sleeping Dragon China is next, and where there's smoke, there's fire.
Let's go point form for clarity.
• China entered the rare earth market in the mid-1980s, at a time when the US was the major producer. But China soon caught up and became the production leader for rare earths. Its heavily state-supported strategy was aimed at dominating the global rare earth industry.
• 1989 Beijing’s Tiananmen Square spring. The U.S. government suspends military sales to Beijing and freezes relations.
• 1997. Clinton secures the release of Wei and Tiananmen Square protester Wang Dan. Beijing deports both dissidents to the United States. (If you don't understand these two were CIA assets working in China, you need to accept that not everything will be published. America wouldn't care about two political activists, but why would care about two intelligence operatives).
• March 1996. Taiwan’s First Free Presidential Vote.
• May 1999. America "accidently" bombs the Belgrade Chinese Embassy.
• 2002 Price competitiveness was hard for the USA to achieve due to low to non-existent Chinese environmental standards; as a result, the US finally stopped its rare earth production.
• October 2000. U.S. President Bill Clinton signs the U.S.-China Relations Act. China's take over of the market share in rare earth elements starts to increase.
• October 2001. Afghanistan war Enduring Freedom started to secure rare earth elements (Haven't you ever wondered how they could mobilize and invade so quickly? The military was already prepared).
• 2005. China establishes a monopoly on global production by keeping mineral prices low and then panics markets by introducing export quotas to raise prices by limiting supply.
• Rare Earth Elements. Prices go into the stratosphere (for example, dysprosium prices do a bitcoin, rocketing from $118/kg to $2,262/kg between 2008 and 2011).
• In a September 2005. Deputy Secretary of State Robert B. Zoellick initiates a strategic dialogue with China. This was presented as dialog to acknowledge China's emergence as a Superpower (which China probably insisted on), but it was about rare earth elements market price.
• October 2006. China allows North Korea to conduct its first nuclear test, China serves as a mediator to bring Pyongyang back to the negotiating table with the USA.
• September 2006. American housing prices start to fall.
(At some point after this, secret negotiations must have become increasingly hostile).
• March 2007. China Increases Military Spending. U.S. Vice President Dick Cheney says China’s military buildup is “not consistent” with the country’s stated goal of a “peaceful rise.”
• Mid-2005 and mid-2006. China bought between $100b and $250 billion of US housing debt between mid-2005 and mid-2006. This debt was bought using the same financial instruments that caused the financial collapse.
• 2006. Housing prices started to fall for the first time in decades.
• Mid-2006 and mid-2007. China likely added another $390b to its reserves. "At the same time, if China stopped buying -- especially now, when the private market is clogged up -- US financial markets would really seize up." Council on Foreign Relations-2007 August
• February 27, 2007. Stock markets in China and the U.S. fell by the most since 2003. Investors leave the money market and flock to Government backed Treasury Bills.
I've never seen it like this before,'' said Jim Galluzzo, who began trading short-maturity Treasuries 20 years ago and now trades bills at RBS Greenwich Capital in Greenwich, Connecticut.Bills right now are trading like dot-coms.''
We had clients asking to be pulled out of money market funds and wanting to get into Treasuries,'' said Henley Smith, fixed-income manager in New York at Castleton Partners, which oversees about $150 million in bonds.People are buying T-bills because you know exactly what's in it.''
• February 13, 2008. The Economic Stimulus Act of 2008 was enacted, which included a tax rebate. The total cost of this bill was projected at $152 billion for 2008. A December 2009 study found that only about one-third of the tax rebate was spent, providing only a modest amount of stimulus.
• September 2008. China Becomes Largest U.S. Foreign Creditor at 600 billion dollars.
• 2010. China’s market power peaked in when it reached a market share of around 97% of all rare earth mineral production. Outside of China, there were almost no other producers left.
Outside of China, the US is the second largest consumer of rare earths in the world behind Japan.
About 60% of US rare earth imports are used as catalysts for petroleum refining, making it the country’s major consumer of rare earths.
The US military also depends on rare earths. Many of the most advanced US weapon systems, including smart bombs, unmanned drones, cruise missiles, laser targeting, radar systems and the Joint Strike Fighter programme rely on rare earths. Against this background, the US Department of Defense (DoD) stated that “reliable access to the necessary material is a bedrock requirement for DOD”
• 2010. A trade dispute arose when the Chinese government reduced its export quotas by 40% in 2010, sending the rare earths prices in the markets outside China soaring. The government argued that the quotas were necessary to protect the environment.
• August 2010. China Becomes World’s Second-Largest Economy.
• November 2011. U.S. Secretary of State Hillary Clinton outlines a U.S. “pivot” to Asia. Clinton’s call for “increased investment—diplomatic, economic, strategic, and otherwise—in the Asia-Pacific region” is seen as a move to counter China’s growing clout.
• December 2011. U.S. President Barack Obama announces the United States and eight other nations have reached an agreement on the Trans-Pacific Partnership later announces plans to deploy 2,500 marines in Australia, prompting criticism from Beijing.
• November 2012. China’s New Leadership. Xi Jinping replaces Hu Jintao as president, Communist Party general secretary, and chairman of the Central Military Commission. Xi delivers a series of speeches on the “rejuvenation” of China.
• June 2013. U.S. President Barack Obama hosts Chinese President Xi Jinping for a “shirt-sleeves summit”
• May 19, 2014. A U.S. court indicts five Chinese hackers, allegedly with ties to China’s People’s Liberation Army, on charges of stealing trade technology from U.S. companies.
• November 12, 2014. Joint Climate Announcement. Barack Obama and Chinese President Xi Jinping issue a joint statement on climate change, pledging to reduce carbon emissions. (which very conveniently allows the quotas to fall and save pride for Xi).
• 2015. China drops the export quotas because in 2014, the WTO ruled against China.
• May 30, 2015 U.S. Warns China Over South China Sea. (China is trying to expand it's buffer zone to build a defense for the coming war).
• January 2016. The government to abolish the one-child policy, now allowing all families to have two children.
• February 9, 2017. Trump Affirms One China Policy After Raising Doubts.
• April 6 – 7, 2017. Trump Hosts Xi at Mar-a-Lago. Beijing and Washington to expand trade of products and services like beef, poultry, and electronic payments, though the countries do not address more contentious trade issues including aluminum, car parts, and steel.
• November 2017. President Xi meets with President Trump in another high profile summit.
• March 22, 2018. Trump Tariffs Target China. The White House alleges Chinese theft of U.S. technology and intellectual property. Coming on the heels of tariffs on steel and aluminum imports, the measures target goods including clothing, shoes, and electronics and restrict some Chinese investment in the United States.
• July 6, 2018 U.S.-China Trade War Escalates.
• September 2018. Modifications led to the exclusion of rare earths from the final list of products and they consequently were not subject to import tariffs imposed by the US government in September 2018.
• October 4, 2018. Pence Speech Signals Hard-Line Approach. He condemns what he calls growing Chinese military aggression, especially in the South China Sea, criticizes increased censorship and religious persecution by the Chinese government, and accuses China of stealing American intellectual property and interfering in U.S. elections.
• December 1, 2018. Canada Arrests Huawei Executive.
• March 6, 2019. Huawei Sues the United States.
• March 27 2019. India and the US signed an agreement to "strengthen bilateral security and civil nuclear cooperation" including the construction of six American nuclear reactors in India
• May 10, 2019. Trade War Intensifies.
• August 5, 2019. U.S. Labels China a Currency Manipulator.
• November 27, 2019. Trump Signs Bill Supporting Hong Kong Protesters. Chinese officials condemn the move, impose sanctions on several U.S.-based organizations, and suspend U.S. warship visits to Hong Kong.
• January 15, 2020. ‘Phase One’ Trade Deal Signed. But the agreement maintains most tariffs and does not mention the Chinese government’s extensive subsidies. Days before the signing, the United States dropped its designation of China as a currency manipulator.
• January 31, 2020. Tensions Soar Amid Coronavirus Pandemic.
• March 18, 2020. China Expels American Journalists. The Chinese government announces it will expel at least thirteen journalists from three U.S. newspapers—the New York Times, Wall Street Journal, and Washington Post—whose press credentials are set to expire in 2020. Beijing also demands that those outlets, as well as TIME and Voice of America, share information with the government about their operations in China. The Chinese Foreign Ministry says the moves are in response to the U.S. government’s decision earlier in the year to limit the number of Chinese journalists from five state-run media outlets in the United States to 100, down from 160, and designate those outlets as foreign missions.
And here we are. You may have noticed the Rare Earth Elements and the inclusion of Environmental Standards. Yes these are key to understanding the Geopolitical reality and importance of these events. There's a reason the one child policy stopped. Troop additions.
I believe our current political reality started at Tiananmen square. The protests were an American sponsored attempt at regime change after the failure to convince them to leave totalitarian communism and join a greater political framework.
Do I have proof? Yes.
China, as far as I'm concerned, was responsible for the 2008 economic crisis. The Rare Earth Elements were an attempt to weaken the States and strengthen themselves simultaneously. This stranglehold either forced America to trade with China, or the trade was an American Trojan horse to eventually collapse their economy and cause a revolution after Tiananmen Square failed. Does my second proposal sound far fetched? Didn't the economy just shut down in response to the epidemic? Aren't both sides blaming the other? At this POINT, the epidemic seems to be overstated doesn’t it? Don't the casualties tend to the elder demographic and those already weakened by a primary disease?
Exactly the kinds who wouldn't fight in a war.
Does this change some of my views on the possibility of upcoming catastrophes and reasons for certain events? No. This is Chess, and there are obvious moves in chess, hidden moves in chess, but the best moves involve peices which can be utilized in different ways if the board calls for it.
Is all what it seems? No.
I definitely changed a few previously held beliefs prior to today, and I would caution you in advance that you will find some previously held convictions challenged.
After uncovering what I did today, I would also strongly suggest reading information cautiously. This is all merely a culmination of ending the cold war, and once I have events laid out, you will see it as well.
At this moment, the end analysis is a war will start in the near future. This will be mainly for a few reasons, preemptive resource control for water and crops, population reduction can be achieved since we have too many people, not enough jobs, and upcoming resource scarcity.
Did you notice my omission of rare earth elements? This is because of Afghanistan. I would wager China or Russia is somehow supporting the continued resistance through Iran. But events are now accelerating with China because the western collation has already begun to build up their mines and start production.
Do you remember when Trump made a "joke" about buying Greenland? Yeah. It turns out that Greenland has one of the largest rare earth mineral deposits on the planet.
Take care. Be safe. Stay aware and be prepared.
This message not brought to you by the Bill and Melinda Gates Foundation, Microsoft, Google, Facebook, Elon Musk, Blackrock, Vangaurd, the Rockefeller Foundation, Rand Corporation, DARPA, Rothschilds, Agenda 21, Agenda 30, and ID 2020.
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Interview With Eddie Jiang: How CoinEx Is Adapting To The Exchange Space And Growing

Interview With Eddie Jiang: How CoinEx Is Adapting To The Exchange Space And Growing
Written by chaintalk.tv
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We recently had the opportunity to interview the VP of ViaBTC Group, Eddie Jiang. ViaBTC Group owns popular crypto exchange CoinEx and ViaBTC Pool. In this interview Eddie discusses being the first exchange to use BCH as the base currency, ViaBTC Pool and integrating with CoinEx, new features and ambassador program, and competing with other exchanges like Binance and Huobi. Please enjoy the interview below.
How come you decided to open up CoinEx to other cryptos other than just BCH?
Eddie Jiang: CoinEx is the world’s first exchange to implement Bitcoin Cash as a base currency. At that time, it was evident that there was a demand for BCH trading markets, and we are the first to explore this opportunity. It also shows our determination to support the BCH’s development.
As CoinEx is developing, our goal becomes bigger and we are aiming at the global market. We need to constantly improve our product diversification to meet the different needs of more users, so we open up to other cryptos. In the past six months, we have listed more than 50 new tokens. Up to now, we have listed 129 cryptos and 313 markets. Besides, in addition to spot trading, CoinEx also supports perpetual contract and other derivatives trading.
How does CoinEx integrate with the ViaBTC Pool?
Eddie Jiang: ViaBTC Group announced a strategic upgrade, which included a new organizational structure, product innovations and service improvements, on 30 May.
As part of the change, the Group has established three dedicated business units (BU): the financial services BU, consisting of ViaBTC mining pool and CoinEx exchange; the infrastructure services BU, including ViaWallet and Blockchain Explorer; and the ecological development BU, focusing on the research and development of public chain technology and the construction of the ecology.
After halving, the combination of mining and finance will become closer and closer. Investing in mining machines is like buying a Bitcoin option. Miners need more flexible financial products to maintain and increase the value of assets, or hedging services. Based on this judgment, the operations of ViaBTC mining pool and CoinEx exchange will be integrated in the future to realize the financial empowerment of the mining pool to meet the diverse financial needs of miners.
Features of this integrated product upgrade can be summarized as: “ The mining pool is the wallet, and the wallet is the transaction.” ViaBTC is the world first mining pool that has a wallet embedded in the mining pool account. Users do not need to transfer the mined coins, and can realize the function of coin exchange within the wallet. For example, they can directly convert the mined coins into USDT to pay electricity bill. What’s more, users can store, deposit and withdraw their revenue, and transfer assets to CoinEx at any time without charge, as well as complete other operations on the exchange, such as purchasing wealth management products for asset preservation and appreciation. In addition, we also provide hedging services. All of the above functions can be completed in one stop in the mining pool, without the need to transfer assets between different platforms.
The exchange empowers the mining pool, and the mining pool will further bring more traffic and resources to the exchange. The two complement each other and development coordinately.
CoinEx has recently added many new features. Can you talk about what new updates were made to the platform and why you made them?
Eddie Jiang: We have always attached great importance to the development of overseas markets since our establishment, and one of our major goals this year is to cover at least 10 different languages speaking markets.
To realize this and to meet the needs of more users worldwide, CoinEx has been continuously optimizing and upgrading its operating strategies, products and services. Our product diversifications are constantly improving. As I said before, we have launched leverage trading, perpetual contract trading, and wealth management products in addition to just spot trading. However, we don’t ignore the importance of spot trading. More mainstream, popular, and high-quality tokens have been listed, and up to now, there are 129 tokens and 313 trading pairs on CoinEx.
During the epidemic, we have never slowed down our development. Lacking of the OTC service has always been a shortage for CoinEx. In March, we partner with Simplex to integrate the first fiat onramp to our platform. People now can buy crypto with their credit cards, which lowers the threshold for more people to enter the crypto world. Moreover, we announced global strategic partnership with Matrixport to provide people with large amount of fiat to crypto needs the OTC service. These newly launched services also help to attract more users.
At the same time, CoinEx has been launched in Arabic, Italian, English, Japanese, Russian, Korean and other 16 languages. Earlier we also carried out product upgrades, making the UI and function sections clearer.
In terms of operations, we launched an upgraded CoinEx Ambassador program in March. To best utilize each ambassador’s personal strengths, there are four categories of CoinEx Ambassador with different responsibilities, namely Referral Ambassador, Marketing Ambassador, Operation Ambassador, and Business Ambassador, which will expand our brand’s exposure and help CoinEx grow into a more international exchange platform.
From March until now CoinEx has seen a 100% increase in user registrations. Why is that and are you able to see where they are coming from?
Eddie Jiang: Because of the efforts mentioned above, in 2020, we’ve seen an exponential increase in activity in just the past few months alone. In this year alone, CoinEx’s daily registered users increased by 100%. These new users mainly come from markets such as the Middle East, Asia Pacific, and more.
Interestingly, we saw an uptick in traffic from the Middle East in March. User growth in Southeast Asia also picked up significantly, newly registered users increased by 133.6% in April.
With Binance, BitMex, Huobi, Bybit, and Deribit, controlling most of the crypto futures and options markets, where do you see CoinEx fitting in? How do you plan to capture market share from these large exchanges?
Eddie Jiang: We won’t compete with others. We focus on ourselves to improve products and our goal is to be better than yesterday.
Our pace is solid and steady, instead of focusing on temporary heat and flow. We have always attached great importance of spot trading, and we are committed to be responsible for users’ investment. We have set up CoinEx Institution, which is dedicated on project research. A listing committee consist of core team members review and vote on projects recommended by the CoinEx Institution. In this way, fraud projects are avoided as much as possible.
Besides, we will focus on niche areas with great potential. For example, Southeast Asia and the Middle East. CoinEx can serve users in those countries well by providing a platform with rich cryptos to trade, and will pay more efforts on refined operations in different countries.
Moreover, CoinEx has a very complete ecosystem. Financial services, infrastructure, and ecological development, the three business units complement each other. The infrastructure BU is our cornerstone and is positioned as a defensive product; the financial service BU is a cash cow and is positioned as an aggressive product; the ecological development BU focuses on the public chain ecology and is the future infrastructure.
What is the geographical breakdown of the CoinEx userbase?
Eddie Jiang: The current proportion of CoinEx’s overseas users has reached 80% of the total registered users, and mainly in Australia, Southeast Asia, North America, Middle East and South Korea.
Do you have plans to focus on any certain jurisdictions? How will you do that?
Eddie Jiang: When we evaluate regions, two things matter: policy and potential.
Whether an exchange’s business expansion in a region is smooth or not largely depends on the region’s policies. If the region is not very friendly towards cryptocurrency or has repeated attitudes, there will be more difficulties and the cost will be much higher.
For a region’s development potential, we need to think about the demand and market development status. South Korea, Southeast Asia, the Middle East and other regions are all areas with good potential for cryptocurrency development. Compared with Europe and America, policy risks in these countries are lower, and the supervision mechanism is relatively complete. The public has a high degree of awareness of cryptocurrencies. Besides, some regions or countries have inflation problems due to political and economic reasons.
CoinEx will continue to focus on the Middle East and South Asia, which are relatively niche. India has just lifted ban on cryptocurrency trading this year, and there are many cryptocurrency investors in Indian. CoinEx can serve them well by providing a platform with rich cryptos to trade. More people in the Middle East are interested cryptos, especially in countries that are subject to economic sanctions or high inflation. For those people, cryptocurrencies are one of the best choices for asset preservation.
Since the CoinEx Ambassador program launched in March, it has been almost three months. We are conducting the second round of ambassador recruitment. This time, we will use the power of ambassadors to expand our recruitment coverage and strive to attract more crypto enthusiasts from all over the world to grow together with CoinEx. Moreover, we will launch the National Expansion plan and leverage on the CoinEx and ViaBTC mining pool resources, to further explore the Russian market. At the market level, we will make more PR efforts in local markets, and start refined operations.
What is CoinEx Chain and CoinEx DEX?
Eddie Jiang: CoinEx Chain is a public chain built on the Tendermint consensus protocol and the Cosmos SDK. It consists of three dedicated public chains parallel to each other. Among these three chains, CoinEx DEX meets the most basic needs of DeFi for token issuance, transfer, and transactions. The Smart Chain is designed to meet the needs of complex financial scenarios and delivers programmable cash. The Privacy Chain facilitates privacy and security.
On November 11, 2019, we took the lead in launching the Mainnet of CoinEx DEX. CoinEx DEX is the world’s first public chain dedicated to decentralized transactions. Users can easily manage their digital assets on it.
CoinEx DEX can fully satisfy the following conditions: users have private keys at their own disposal; transfers and transactions are all completed on-chain, which is 200% transparent and checkable; the issuance, transfer, and transaction of tokens do not require review or permission; the community governance and operation is decentralized, similar to EOS, and validators are introduced to the community ecosystem construction and governance. There are currently 41 validators.
It also has extreme performance. TPS reaches as high as 10,000 and transactions are confirmed within seconds. The transaction fee, 0.0001 US dollars for each transaction, is negligible.
Third, it’s simple and easy to use. The new operation interface design helps beginners get started quickly; with the one-click token issuing module, users only need to fill in a few items to issue tokens; the built-in automated market-making module guarantees liquidity.
How will CoinEx DEX improve the decentralized exchange space that has been unable to gain much adoption?
Eddie Jiang: There are many challenges and difficulties facing centralized exchanges. The first difficulty is security. Security is a huge concern for CEXs. Over the last 10 years, hackers have stolen more than $1.5 billion from centralized exchanges. In fact, research groups estimate that hackers stole somewhere between $950 Million and $1 Billion from centralized exchanges in 2018 alone. There were also incidents of coin thefts in other exchanges in 2019. Many exchanges, such as Mt. Gox, Youbit, were forced to file for bankruptcy and shut down as a result of hacks.
The second is high management costs. Centralized exchanges need to list a large number of cryptocurrencies and each of them have different trading pairs. That entails huge efforts in development and maintenance and, thus, high management costs.
The last is global policies. Cryptocurrency is faced with different regulatory policies in different countries. Every time a centralized exchange enters a country, it needs to adapt itself to local regulatory policies for compliance. This is a holdback for the exchange’s rapid market expansion globally. Such adaptation will also bring a huge learning cost for the exchange team.
Obviously, these problems can be well solved by DEX. CoinEx DEX is a true DEX with full open source and full community governance, as well as without depending on official nodes, websites, wallets, etc. On DEX, users are able to in charge of their own private keys and assets all by themselves. Their assets are more safe and secure. Transfers and transactions are all completed on-chain, which is 200% transparent and checkable; and the issuance, transfer, and transaction of tokens do not require review or permission. What’s more, CoinEx DEX provides a great and convenient user experience.
How will CoinEx Chain and DEX help the crypto industry as a whole?
Eddie Jiang: The public chain is the cornerstone of the blockchain industry. CoinEx Chain has the parallelism of multiple dedicated public chains, each of which performs its own functions, by cross-chaining for both high performance and flexibility.
CoinEx Chain is committed to building the next generation of blockchain financial infrastructure. It is a more complete ecosystem built around the DEX public chain. The DEX public chain is a dedicated public chain developed specifically for token issuance and trading and the biggest improvement on trading speed, so it only supports the necessary functions, not smart contracts.
But smart contracts are the foundation for building more complex financial applications. Outside the DEX public chain, CoinEx Chain also includes a Smart Chain that supports smart contracts.
Moreover, as privacy issues on the current blockchain have been criticized, it is one of the core tasks of CoinEx Chain to safeguard users’ privacy. Similar to the Smart Chain, the Privacy Chain specifically supports transaction privacy protection. With cross-chain circulation, it can improve the privacy characteristic of the entire CoinEx Chain ecosystem.
Nowadays, 1.7 million people in the world have no bank accounts; however, among them, two thirds are smartphone users with huge demands for financial services. The public chain will empower DeFi applications’ development and popularization, not only help more companies to seize the huge market opportunity, but also to bring lasting transformations and improvements in people’s lives.
With so many crypto exchanges, what is the future outlook of CoinEx when it comes to the crypto exchange space?
Eddie Jiang: It has been nearly 3 years since CoinEx has been launched, but it’s quite young for an entrepreneurial team. We have seen too many projects’ failures due to governance issues. CoinEx has a very elite team with high technical and management capabilities. In terms of business, CoinEx has gradually developed with diversified business and a complete ecosystem. It’s clear that the market will still grow very fast in the future, and the market size is still very large. We will continue to improve our products, put more efforts in marketing and operations, as well as look for more high-quality projects, to increase the number of users and transactions on the platform. Lay a solid foundation, and I’m sure the time will come for us to shine.
What updates is the CoinEx team most excited for?
Eddie Jiang: We are very excited about the National Expansion Plan which will be launched later this year. It is an important part in CoinEx’s globalization strategy. We will actively explore some new markets while consolidate the original ones. CoinEx will set aside 10 million US dollars to set up a “Pioneer Fund” to support this plan. This fund will be used to support local cryptocurrency projects and promote the development of the local cryptocurrency communities through investment or cooperation. Our goal this year is to invest in projects and communities that are conducive to expanding the CoinEx ecosystem in countries with high development potential.
Original article
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Providing Some Clarity on Bitcoin Unlimited's Financial Decisions

Providing Some Clarity on Bitcoin Unlimited's Financial Decisions

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Introduction

As promised in our previous article, we wanted to provide some extra clarity on Bitcoin Unlimited financial choices. We wanted to do this as there has been a lot of confusion and misinformation within the community as to the reasons behind these choices.
It has been claimed by a small number of influential people in the ecosystem that Bitcoin Unlimited does not support BCH (see the previous article debunking this claim) and that BU’s holdings are supposedly evidence of this. Background Bitcoin Unlimited was founded in 2015, and was set up as a response to the Bitcoin block size debate. More specifically, it was created to provide software that allowed on-chain scaling as originally proposed by Satoshi Nakamoto. As we all know, on-chain scaling is a vital component required for peer-to-peer electronic cash to serve the world’s population. Without it Bitcoin would be limited to serving only a small number of people willing and able to pay exorbitantly high fees. Our organisation was created to make Bitcoin unlimited. This prediction of high fees and limited capacity was played out in the BTC we know today as we predicted.
Bitcoin Unlimited received a large anonymous donation in BTC in 2016 from supporters of the ‘on-chain scaling’ movement. This donation allowed our organisation to remain independent and focussed on building software that allows on-chain scaling.
As you all know, in August of 2017, Bitcoin Cash was created after an unsuccessful multi-year effort to allow Bitcoin (BTC) to scale on-chain. Bitcoin Cash was created with the goal of on-chain scaling to support the world’s population right at its heart and BU has been supporting it since the idea was originally formulated.
Once Bitcoin Cash was created it also meant that all funds Bitcoin Unlimited held (BTC) were forked into two equal sets of coins, BTC and BCH. This put BU into a position where we had to make an important decision on how to handle these funds in a way that was in the interest of both BCH and BU.

Financial Prudence

Any organisation that wants to be effective in its goals must aim to always be financially sustainable. Without money, achieving anything becomes significantly more difficult. Cryptocurrencies only magnify this issue even further. Highly volatile asset values, opaque and dynamic tax and regulatory environments, and the unique properties of cryptocurrencies all contribute towards making the financial operations of an organisation an extreme challenge to say the least. Navigating this challenging landscape is a necessary requirement for the success of any organisation within our industry though.
While Bitcoin Unlimited’s primary goal is to make sure peer-to-peer electronic cash (as set out in the Bitcoin white-paper) becomes a reality, a secondary goal must be to make sure that it has the resources required to make its primary goal achievable, and an important part of these resources are its funds.
After Bitcoin forked into BTC and BCH, Bitcoin Unlimited then held an equal number of both. Although a BUIP was passed to authorize some extra conversion, significant practical obstacles to doing so exist (although this is still being worked on). However, since the overarching reason to convert a significant number of BTC to BCH is to maintain financial prudence based on the reasons outlined below and the poor BCH price performance has heavily skewed our holdings, we do anticipate some rebalancing when these obstacles are resolved.
We will further expand on these reasons below. Historic Volatility It is a fact that BCH has historically been more volatile than BTC. An organisation that wishes to maintain a lower level of risk must aim to hold a majority of funds in assets which will maintain their value over time, i.e. be less volatile in their price. It is unfortunately true that BCH has been a more volatile asset than BCH since its creation. While there has been lots of progress and maturation of the BCH ecosystem, this price volatility is likely due to BCH still being a smaller and less developed ecosystem than BTC. The graphs below show levels of volatility in the two coins compared.

BTC
BCH
This higher volatility in BCH has meant that to significantly increase BU’s holdings of BCH would expose the organisation to a higher level of risk for ideological reasons. BTC is already a high-volatility asset and to expose the organisation funds to even higher volatility and further risk is a decision that should not be taken based on simplistic ideology, but rather with the strategy of maximising the ability for the organisation to achieve its primary goals. This meant making the decision to not take on a higher exposure to price volatility, and instead maintain a more conservative risk profile.

Lack Of Say In The Protocol

One argument that has been put forward to suggest that this decision does not make sense because it is analogous to a CEO of a company holding more shares in their competitor’s company. This analogy does not accurately reflect the current scenario for BU or BCH. In this analogy BU is the CEO and BCH is the company. Ignoring the shareholders, A CEO is able to have the largest impact on a company compared to any other stakeholder. Their actions have a direct impact on operations of the company and therefore its value and the value of the shares.
Unfortunately, Bitcoin Unlimited currently has little to no input on the BCH protocol. It has no way to directly influence the direction or success of BCH. There are two reasons for this. Firstly, BCH has a mining software homogeneity that is as centralised as BTC (i.e. essentially all miners and pools run a single client, BitcoinABC). This means that, all though BU has a slight majority in non-mining and in-consensus nodes, BU has no say in protocol decisions unless a collaborative and decentralised development model were to be used by BitcoinABC. This is an unfortunate situation considering the fact that the community split from BTC for this very reason and is strongly in support of decentralised development. Secondly, BitcoinABC does not take a collaborative approach to development. All decisions and features are dictated by BitcoinABC.
In fact the situation is unfortunately even worse than this. BitcoinABC has decided to take an actively hostile position against Bitcoin Unlimited (and many other valuable participants in the ecosystem) and would rather that it did not exist at all.
While a number of members of BitcoinABC were previously members of BU, they unfortunately used their privilege as members to try (but fortunately failed) to sabotage the organisation.
https://www.bitcoinunlimited.info/voting/rendeproposal_vote_result/7eb0ded0487a6593ac3976b63422294e1a84b209be1307c46f373489922212a0
https://www.bitcoinunlimited.info/voting/rendeproposal_vote_result/6285fcef8fa44416b8e83f25bfebe79aff502c1446a7b60bfab28ec58c35b609
https://www.bitcoinunlimited.info/voting/rendeproposal_vote_result/b10f54ece2ea3b9001086ebdde0001fbef9dc2fd83729a65ba207c0f1d9dfceb
These three voting records show members of BitcoinABC voting for the purchase of BSV coin, voting for an unfeasibly large block size increase (10TB), and voting for implementation of and miner-activation of BSV features into the BU client. None of these actions were implemented in the ABC client, and the inclusion of BSV features is likely the single biggest criticism certain ABC affiliated people have made against BU, yet members of BitcoinABC voted for it.
While it is important to assume good faith, under no interpretation can this be seen as anything other an act of bad will towards BU. Unfortunately this kind of behaviour is rather the rule than the exception and has likely been a major factor in BCH’s struggle to attract quality developers into the ecosystem.
Regardless of the hard work done by members of BU to create useful software for Bitcoin Cash, and its continued commitment towards peer-to-peer electronic cash for the past 5 years, ABC will unfortunately never allow any of BU’s work to go into the BCH protocol willingly.
If BU were to invest all its funds into BCH it would be making a highly risky bet on BitcoinABC’s leadership, a leadership that has not only been historically unsuccessful (when looking at the price of BCH since its creation, both in dollar terms and BTC/BCH ratio terms), but also actively hostile to our organisation. A more cautious approach that takes these factors into account is to keep the funds held where there has been less volatility.
Regardless of all of this, BU is still 100% committed to supporting Bitcoin Cash.

Game Theory: The Strategy of Betting Against Yourself

Counter intuitively, a strategy where you bet against yourself can provide a beneficial low-risk profile. When you bet against yourself, if you lose you win and if you win you win. With BU’s current asset holdings of BCH and BTC the organisation is financially hedged in a way that it wins if BCH wins, and if BTC wins then BU lives to fight another day for worldwide peer-to-peer electronic cash.
If BTC goes down and BCH goes up then it means BCH is succeeding, and our funds in BCH will sustain us for longer. Not only that, but there would likely be more funds available for BCH development in this scenario. If BTC goes up and BCH goes down then BU will be sustained for longer to continue the fight for BCH and peer-to-peer electronic cash.
This is very similar to the strategy of BCH-supporting miners mining on BTC and then converting the BTC block rewards into BCH in an effort to use BTC gains to support BCH price. BU is similarly using its gains in BTC and converting them to efforts and initiatives in support of BCH. In doing so Bitcoin Unlimited is able to turn any BTC win into a positive for BCH.

Incentives

It has been suggested that the situation created by holding a larger portion of funds in BTC than in BCH creates negative incentives that push BU towards supporting BTC. It is important to keep in mind that Bitcoin Unlimited is not a profit driven organisation. While an increase in value of its assets is of course beneficial to the organisation, our primary goal is to accelerate the global adoption of peer-to-peer electronic cash as described in the Bitcoin white-paper, and the officials, membership and founding articles of Bitcoin Unlimited are the driving force for this.
It is also important to point out that there is no evidence to support the claim that BU is in support of BTC (or BSV). In fact the voting record clearly shows the opposite of this. BU has continually worked in support of peer-to-peer electronic cash, and specifically in support of BCH since it was created. This is thanks to the strong commitment by the BU officials and members, all of whom are long time Bitcoiners and supporters of the ‘on-chain scaling’ movement. The only members who receive any payment from the organisation are those who provide significant value in the form of various skilled services, and all of these are voted on by the membership. The BUIP record also shows that compensated individuals are often compensated at far under market rates for developers of their caliber. Should the price of BTC increase, no member receives any direct benefit from this beyond any appreciation in value of any BTC they privately hold. Therefore there are no strong incentives for BU to drive the price of BTC up and push the price of BCH down as this would be counter to our primary goal.

Has This Strategy Been Successful?

Bitcoin Unlimited and its members, all being long-time Bitcoiners, are acutely aware of the need to play the long game to make sure a globally adopted peer-to-peer electronic cash becomes a reality. BU is the oldest entity within the BCH ecosystem and with good reason. The financial strategy of BU to date has been highly effective in sustaining the organisation over a long period of time, and allowing it to independently support BCH development initiatives. This is made clear by the fact that BU continues to have enough funding to provide value to the BCH ecosystem for the foreseeable future.
Had BU converted all funds to BCH at, or at almost any point after, the time of the BCH/BTC fork in August 2017, then for much of the time since it would have been forced to either scale back operations or shut down support for BCH developers completely. We now see development teams such as BitcoinABC facing the prospect of being unable to fund their development of BCH, and their financial strategy may have contributed to this reality. This is despite the fact that nearly all the funds donated in the recent community funding drive sponsored by bitcoin.com were directed towards BitcoinABC.
Lack of a sustainable funding model also seems to have been a major factor in pushing BitcoinABC to make the highly controversial decision to support a change to the BCH protocol that would divert 12.5% of the block reward to themselves. Being financially prudent and sticking to its principles (as defined in the founding Articles of Federation has allowed Bitcoin Unlimited to steer clear of any conflicts of interest such as this.

Summary

Through its financial strategy Bitcoin Unlimited has been able to maintain its independence and financial sustainability and has therefore remained in a strong position to support Bitcoin Cash. BU’s officials and membership have continually made good decisions that have allowed BU to provide long-term support for the Bitcoin Cash ecosystem.
submitted by BU-BCH to btc [link] [comments]

My career isn’t always dangerous, but clients can be unpredictable

My name is Amy, and I’m what’s called a Computer Dominatrix. My clients are all long distance, we never interact face-to-face, and I have control over all of them. Some give me absolute control, some give me specific portions with boundaries. Some are married or dating, others are single. They all make use of my talents to give up control of at least part of their lives.
When a new client contacts me, we exchange a few messages so I have some background about them, and I lay out what my services usually entail. I tell a few stories of what other clients have asked me to do for them, to help the new client select scenarios they would like to set up. Most of my clients have never had a Digital Dom before. So, giving them a few examples and options helps bolster their confidence.
The usual set-up goes like this: my client installs some spyware on their computer that I control. It gives me the power to do things like lock their computer, see their screen, disable the keyboard, take over control of their computer, and get reports of what they’re doing on their computer. With this tool, I can perform my services.
Some clients want me to watch their bank statements and shame them if they spend too much money or buy surprise things with their money as if I own the account. Other clients want me to monitor their porn usage and shame them for what they look up. Or, if I log in and catch them using porn, I should direct them to different porn of my choosing and force them to watch that instead. One even wanted me to try and break into his computer and install the spyware secretly. That was a fun client to work with.
When it comes down to it, they just want to relinquish a little control over their lives. I understand where their desires come from, and knowing it helps me be a better Dom.
Contrasting the fun times of my career, I’ve had a few mishaps and horrible things happen.
I had one client sign up for my services. We messaged a few times to get to know one another before I agreed to accept him as a client. He was in his mid thirties, single, and wanted me to watch him look at porn and make random comments on the things he was watching.
Really, not that abnormal for my choice of career.
I had him sign an agreement that helps me avoid legal trouble if they try to report me for hacking (had this happen before), and we got started. I gave him the url where he could install my personal spyware, and he followed through.
He only asked that I give him a little advance notice before I start watching, which I agreed to. Boundaries are important.
I would check up on him twice a week, and send him a message before I did saying “I’m coming to check on you in ten minutes, you better be watching something good.” I would log in ten minutes later to the second and start either shaming him for his choice of videos or praise him for making the “right” choice. All of this was predetermined.
Things were going fine with this client, and I balanced him with about 10 others. Being a Digital Dom makes it easy to spread your attention across many clients. Bonus if you can get clients from different time zones so they would log in at different times so you don’t have to multitask.
I was about to check in with another client, when I mis-clicked in my software. See, my spyware (which I paid to be custom written after wishing for more features in commercial tools) lists my clients by most recently connected in one screen. When I add a new client, it can mess with the order of the page I am so used to mindlessly clicking through. I’ve since paid for that to get fixed and sort clients alphabetically, but this time I made a mistake.
I clicked on this new client and connected to his computer.
A gasp escaped my lips as I saw what he was looking at. I’ll leave that up to your imagination. It was some of the most fucked up porn I’ve ever seen. Involving victims of questionable age. And blood.
If I could have slipped out of there, I would have. But this client requested a popup to appear whenever I connected so he would know I was there.
That popup revealed my unexpected presence.
Instead of panicking and trying to close the window, he calmly moved his mouse to the task bar and opened a text document. I was frozen while watching him type. I should have logged straight out, but I instead started to open a voice channel to tell him I was dropping him as a client.
It was too much for me, and I decided to set that boundary early on in my career.
“Like what you see?”
He had typed into the word document, and the cursor blinked impatiently at me.
I thought my voice would crack, so I took over the keyboard and typed back.
“I’m sorry, but I’m going to refund your money and no longer service you. Please uninstall this software and watch for your refund.”
He paused for a while, and I waited for him to respond once before I disconnected. He took too long, so I closed the window and took a deep breath while sitting back.
I was feeling really disconcerted from what I’d watched. It wasn’t the first time a client had tried to show me illegal things during a session, but it always makes me sick when they do. I gave the reins over to another Digital Dom I have partnered with. We take over for each other if we feel ill or something. Just temporarily.
I went to take a shower to wash out those images.
 
My computer started acting up more than a month later. So much had gone on since dropping that client that I didn’t connect the two at first.
The computer would slow down for a few minutes, then resume its normal speed. I assumed it was because I hadn’t restarted in a while, so I restarted it. That seemed to fix the problem.
When I had rebooted, the wifi slowed down considerably, enough for my roommate, Jess, to ask if I was downloading anything big. I had logged into the router to see if that also needed to be restarted when I noticed a device I didn’t recognize was connected to the wifi.
I swallowed hard.
RASPI was the name of the connected device. It had connected to the network three days ago.
Some strangers' device was on our network. And they had to be nearby, at least within range of wifi. I immediately suspected that a neighbor had brute forced our wifi password and was now stealing internet.
Before kicking the device off, I looked at the router’s traffic report. The device had a significant size of traffic in the last few days, but my computer used the most out of all of our devices. The device came in 5th place for most data used.
It made sense that my computer was using so much bandwidth, but 75+ gigabytes in 3 days was excessive.
My throat seized, and I immediately reached around to the back of my computer and unplugged the ethernet cable.
Deep, primal panic set in. This was a very specific attack. It’s not the kind of hacking you can do en masse to install some ransomware or adware.
Someone was targeting me or both of us.
Someone who was willing to spend time brute forcing a wifi password and going after one specific machine on the network.
 
I called Lucas, the guy I hired to write my spyware for me, and filled him in on everything I knew. He knows perfectly well what his software is used for and isn’t weird about it. He agreed to take a look at my computer for a fee.
So, trusting him as I have all my career, I installed a commercial remote desktop tool and let him connect. The moment I reconnected the computer to the internet, the router showed a spike in traffic again.
I had him on a call while he worked, and I watched what he did carefully, trying my best to learn what he was doing so I could troubleshoot myself if this ever happened again.
“Oh shit,” Lucas muttered. He had a traffic analyzer and computer process analyzer open on-screen. “Amy, I think you got hacked. Like, they’re downloading your hard drive!”
“They’re what?!” I began to really panic. I had a lot of my clients information on this machine. Keys that let me log into their machines. Bitcoin Cash addresses and keys where I stored my fees.
Now someone had them. They could easily start stealing and spending my thousands in accumulated fees and harass my clients.
I’d lose a big chunk of my savings and my livelihood.
Immediately, I took over the computer and shut Lucas out while I created new crypto addresses and started transferring money. The fees from transferring would make me lose a little money, but it was better than losing it all.
I also started backing up the hard drive to several USB drives I had lying around. Just the important stuff like my files, personal photos, and client info.
When I let Lucas back in, he got to work finding the process that was exfiltrating my data and shutting it down. He tracked down the executable that was running the show and downloaded it to his own computer before deleting it from mine.
He promised to dissect it as best he could to figure out what it was doing.
Before he did that, however, he started monitoring my system to make sure the virus had been truly cleared out.
While watching my system, he gave me a task.
“Walk around your apartment. Search everywhere and look for that rogue device. It’s been continuously connected for days, which means whoever is doing this is probably not camped out on the road. From the name, I’d guess it’s a Raspberry Pi -- a small computer about the size of a phone but two inches tall.”
He sent me a picture of the type of device we were looking for.
“They probably left it hidden somewhere, either connected to an outlet or with a large battery pack. Go and look for it,” he insisted.
I got Jess to help me search the place top to bottom. Nothing. Not even outside in the bushes or on the back porch.
We split up and went to our neighbors, asking if they’d seen anyone suspicious hanging around the building in the last week. No one on our floor had. I went upstairs and asked the same questions.
Our upstairs neighbor said the only person he’d seen was a guy coming to update their satellite dish on the balcony. My throat seized up as I realized that could be them.
I asked hesitantly if I could look at their dish. I didn’t know them, but briefly explained that someone had left a device lying around that was breaking into our wifi and that our next step was to call the police.
They panicked at that, and let me check their balcony if I promised to keep them out of it if I called the cops. I agreed, knowing full well that they did drugs and would hate for the police to come around the apartment complex.
There, on the balcony, was exactly what Lucas had told me to look for. A black box sat along the wall between the satellite and the wall the cable ran into. A power cord exited the box and connected to an outlet on the balcony.
I cracked open the box with my fingers and found a circuit board inside, connected via usb to the outlet. The satellite cable passed straight through the box without connecting to anything. The box was a fake, made to look like it was doing something to the cable as it passed through.
The circuit board looked exactly like the picture Lucas had shown me.
There was our rogue device.
I unplugged the device, fully aware that unplugging it would alert whoever was controlling it. They could assume it was disconnected accidentally, or they would think I had found it. Either way, I couldn’t just leave it.
I thanked the neighbors and left with the whole box. Jess met me on the stairs, saying that Lucas had asked her to disconnect the internet on the computer and have me call him back.
Jess stared in wide-eyed shock as I showed her what I’d found. The upstairs neighbors were well within range of our wifi for the device to connect. The job was only barely sloppy enough to detect. We were lucky I had found it at all.
 
On the phone Lucas sounded panicked.
“They didn’t just copy your hard drive, they added files to it,” he squeaked. “Bad files. Bad pictures.”
My jaw tightened, and I felt sick. I made the connection to the client I’d dropped.
“Delete all your shit now,” Lucas was demanding. “You already backed up what you want, you need to destroy that hard drive. Smash it, burn it, bury it. Go get a new hard drive. Start as fresh as you can. I can help you get set back up if you want.”
“I think I know what’ll happen,” I muttered. “He’ll call the police on me and tip them off that I have those… pictures. They’ll find it and arrest me for possession. Game over.”
“He? You know who it is?” Lucas pressed.
I told him about the client I’d dropped.
“That’s why you need to torch your hard drives. Now. Both of you. Same with your phones. Who knows where else he’s been,” was Lucas’ advice.
I won’t confirm or deny what I did with the hard drive or the device. If I destroyed it, it would technically be destruction of evidence.
I ordered a new hard drive and reinstalled everything. I explained to my clients that I had lost internet connection for a couple of days, and didn’t end up losing any clients.
I haven’t told the police everything. The last time I got involved with them, there was so much harassment from them about my career that I’d rather not have more negative interactions with them. It just isn’t worth it in this case. I kept my report short and simple: a guy I met online and dumped might try something and come to my house. I gave them the information the client gave me, but I suspect more and more that it was fake.
Making a report will help if anything new happens.
I’ve written about this before on other anonymous forums, specifically for other Doms. Because of those posts, a few journalists have reached out and are writing features based on me, my career, and these events. They should be published in the next few days.
I’m just interested in sharing stories like this as publicly as possible, for awareness.
Lucas explained that the Raspberry Pi was a tiny computer that had a cellular connection so the client could connect to it from anywhere in the world and try to break into my wifi. Once he had succeeded, the client had gone to work breaking into my computer and getting their malware installed. We still don’t know 100% how he did it.
Lucas worked tirelessly to revise his software and remove vulnerabilities that could be used to trace me. We don’t know which vulnerabilities the client used, if any. We do know that there is one left, however.
I know this because every once in a while, a client will show up in my software who I didn’t sign up. A new name and data every time. I don’t dare click it. I just know what will be waiting for me upon connection.
“Like what you see?”
Lucas hasn’t been able to track down how he’s injecting fake clients into the software. Until Lucas can fix it, all I can do is click carefully and not connect again by accident. I’m sure the client is using a modified version of my spyware, ready to do all kinds of damage the moment I connect.
The guy is clearly an expert. Who knows how many other people he’s done something like this to. One thing is certain: he was prepared to conduct this attack.
My career isn’t always dangerous, but the clients can be unpredictable.
submitted by DigitDom to nosleep [link] [comments]

BSoV: The Minable and Deflationary ERC20

The year 2020 exposed many of the negative aspects of the current financial construct which the world relies on. On 4/9/2020, the Federal Reserve announced that they would inject another $2,300,000,000,000 (2.3 Trillion, you read that right) into the U.S. economy. With the threat of Covid-19 essentially shutting down the daily operations of the economy overnight, something HAD to be done, right? Were there any other options? Many people are expecting a $1,200 stimulus check to cushion the pockets of people affected by the mass layoffs and market collapses. I myself asked a simple question, "What are the long term consequences of diluting the market with the USD?"
This question is one that should be asked over, and over, and over by every single person who receives a paycheck from their employer or government regardless of where you reside in the world. The U.S. dollar is the dominant monetary force in the global economy, and it dictates much of the value of all things being bought, sold, and utilized in said economy. It is common and public knowledge that the dollar has been subject to inflation: in 1913, the same $100 you had then would only have the purchasing power of a about $26 today. One could expect, in theory, that this number will diminish even more because of the drastic amount of USD injection occuring because of this pandemic. Most people cant afford basic necessities because of this ridiculous level of inflation caused at the hands of the Fed.
As many of you know, Satoshi Nakamoto had a response to this type of stimulus and bailout system the Federal Reserve has created and enlisted at any opportunity to respond to a crisis. It was called Bitcoin, and today it has become a financial power to be reckoned with. It has brought governments to terms with the fact that their systems are not efficient, along with putting power back into the peoples hands when it comes to controlling and utilizing their own money. There are no restrictions on how much Bitcoin you can send. There are no restrictions on whom you can send it to, and there are no ways to hide whom you've sent it to using blockchain technology and cryptography to secure its network and create a database of all transactions. The creation of Bitcoin was an answer to many of the problems with the financial system.
On June 17th, 2019, a person under the pseudonym "Mundo" also tried to provide an answer to some of these problems with a laser focus on inflation. The solution he proposed (we have not seen the long term benefits, so the solution is not quite yet an answer) is BSoV, or BitcoinSoV (Bitcoin Store of Value). BSoV is an ERC20 token which utilizes the EIP918 protocol first utilized by a similar token called 0xBTC. EIP918 allows both BSoV and 0xBTC to be minable on the Ethereum blockhain via a smart contract. Following the same distribution model, consensus mechanism, and total supply of Bitcoin (Fair Start, meaning no ICO, Premine, or developers fees; Mined using PoW, specifically Solidity SHA3; 21,000,000 total supply, 3.6 million mined thus far, divisible to 8 decimal points, with the same amount of halving eras as BTC) BSoV differs in one very different way: a 1% transaction burn built into its code.
With BSoV, every transaction is subject to a mandatory 1% transaction burn when a transaction is sent and confirmed on the Ethereum blockchain. The deflationary mechanism is the solution that Mundo proposed as an answer to the inflation the peoples money is exposed to because of the negligent actions of the Fed. This inflation is created out of the control of the people, and their purchasing power is diminished. With BSoV, the deflationary aspect is out of there control, but the end result is the opposite; an increase in its value due to scarcity and exchange of resources from its consensus mechanism. (This is a great scholarly article which details how mining provides a bottom value to PoW coins/tokens due to resource exchange, ie. Computing power, electricity, etc. https://www.sciencedirect.com/science/article/abs/pii/S0736585315301118)
It's important to note that the project has not been around long enough to see its end goal or vision come to fruition. This is precisely why I am writing this article. More is needed to help study and analyze if this is the answer to this problem. What I can say is that this is one of the few real potential answers that have been proposed, created and implemented to try and combat the Fed. With mass adoption, can we have a true store of value solution that protects itself from the self burdening negligence of the powers that be? Do we have to keep loaning our money to banks to invest for free, only for them to need a bailout every 10-20 years due to poor monetary management and investing sprees? An immutable smart contract that cannot be 51% attacked or controlled by those in power might be worth pursuing.
I'd like to end this article on a more transparent note about myself and my involvement with the project to help shed light on any apparent bias or misconceptions that some may have about my intentions here. I am one of 950 current holders and community members. I mined BSoV after I joined the telegram group and got involved on July 4th, 2019. I have never been paid for my work here, and it is strictly something that I believe in and want to help shed light on to those who might be interested in what the project has to offer. Just like many of the cryptocurrency enthusiast on the on P2P mailing list in 2009, many of us are working together tirelessly to bring one of the few tokens with integrity, transparency and ethics to those who want to experiment and see what may happen.
Something that I have also asked my self is "Whats the worst that can happen?" when it comes to my involvement here.
If the worst is a little time wasted on something I believed in, I will sleep fine at night. But if I am so fortunate to be apart of something that could truly change lives and alter the never-ending downtrend of inflation which has made life so difficult for the average human being, I will have a better nights sleep than I could have ever imagined.
Thank you for your time. I wish all of you health, wealth, and safety during this difficult time.
Sincerely,
BSoV_Chris
(You can find out more @ BSoV.io)
submitted by Chrisc9234 to ethtrader [link] [comments]

Not directly Litecoin related, but Bitcoin miners lose half their revenue today, and here's what that means for the rest of the Bitcoin ecosystem.

Miners are the bedrock of the Bitcoin ecosystem. Today, as a result of the Halving, their Bitcoin-denominated revenue is being cut in half. I wrote this article to help explain the impacts of this and really hope you guys find it informative.
Some quick highlights:
Here's the full article, thanks for taking a look! Any feedback and input would be appreciated.
submitted by heist95 to litecoin [link] [comments]

The Survival of the Fittest: BTC Miner Story

The Survival of the Fittest: BTC Miner Story

https://preview.redd.it/l14umst6gf151.png?width=1024&format=png&auto=webp&s=a13c395434249decd2fed8871c27779d2068610c

#BE_A_TRADER!

Greetings from MCS (MyCoinStory), the derivatives trading platform where traders ALWAYS come first.
Who would have guessed that a phrase from the 19th century is the best description of the world in the 21st century?

Herbert Spencer
“The Survival of the Fittest”, the phrase first used by Herbert Spencer in his Principles of Biology in 1864, may be the best depiction to describe the current situation of the Bitcoin miners.
Whether you are interested in Bitcoin or not, you must have heard from the media about the recent “Bitcoin Halving” that took place on the 12th of May when the 630,000th block was mined.
Just in case you are really new to the world of cryptocurrency, let us briefly take a look at the “Bitcoin Halving”.

WHAT IS THE “BITCOIN HALVING”?

Source: Shutterstock.com
Bitcoin, the world’s most popular cryptocurrency, has been and still is the most trendy keyword recently. In the last month, Google Trend showed a chart with the skyrocketed graph for searching the keyword “Bitcoin Halving” from Google.
The halving was first designed to effectively maintain the value of Bitcoin by mechanically dropping the supply, which is in contrast to the 'quantitative easing' used by many central banks to increase liquidity through the purchase of government bonds. The first and the second halving worked beautifully and brought the price from $15 in 2012 to approximately $20,000 in 2017. Nevertheless, people are expecting a different outcome for the upcoming halving by studying recent patterns of other cryptocurrencies’ halvings.

NOW THAT WE ALL KNOW WHAT THE “BITCOIN HALVING” IS, WHY “THE SURVIVAL OF THE FITTEST”?

Source: Shutterstock.com
Shortly after the third halving, according to the date shown on Blockchain.com, the hash rate (the Bitcoin mining power in simple terms) has dropped significantly.

Source: Blockchain.com
This rapid drop indicates that the ‘inefficient’ miners who cannot sustain their businesses under the new return of 6.25 BTC were forced to shut down their mining machines. Those with legacy machines like Antminer S9 are already losing money. According to a calculator provided by Poolin, operating S9s at $13,760 is still making a loss. This proves that the halving had a ‘real impact’ on the Bitcoin mining industry.
Nevertheless, the ‘fittest’ will prevail. The miners with higher efficiency will survive and continue their works to mine more Bitcoin blocks since the price of Bitcoin is expected to rise and even if the return of BTC is halved, its converted value may become higher. Historically, after the occurrence of each capitulation, there had been price surges afterward. We do not know how long it will take until the peak though.

SO, ALL WE HAVE TO DO IS WAIT FOR THE PRICE TO GO UP?

Source: Photo by Austin Distel on Unsplash
The answer is “No”. As mentioned before, no one can tell the time till the next peak. The increase in the price of Bitcoin could lead to another bull cryptocurrency market, but those miners who could not generate profits will sell their Bitcoins in the market causing price fluctuations along the way, and experts are anticipating some big fluctuations.
This is the time where people had to act wisely and diversify your investment strategies. For traditional spot traders, there is no way to profit when the price goes down. However, cryptocurrency derivatives exchanges such as MCS (MyCoinStory.com) shine in this volatile market since one can hedge by short selling to profit in any market condition.
Only those who can adapt to the changing environment can survive. That is the essence of “the Survival of the Fittest”. Let’s all survive through the price volatility and make some profit along the way.

Traders ALWAYS come first on MCS
Thank you.
MCS Website: https://mycoinstory.com/ MCS Official Twitter: https://twitter.com/mycoinstory_mcs MCS Official Facebook: https://www.facebook.com/MyCoinStory.official MCS Telegram Chat: https://t.me/mycoinstory_EN MCS Official Blog : https://blog.mycoinstory.com
submitted by MyCoinStory to MyCoinStory [link] [comments]

That time I nearly followed my younger brother's footsteps and almost OD'd on an Opioid/Benzo mix! Maybe not the most pleasant experience for one's body, but my mind got altered forever afterward! LONG ASS POST BUT A MUST READ!

Heya guys,
I wrote about this last Sunday on Facebook simply because the thought popped into my head, the thought that I had never really thought about aside from the moment I managed to put fussy bits and pieces together from what I then experienced as somewhat of a blackout but in the end realized was something entirely much larger than anything I have ever come in contact with prior or since then!
I want to share this with you guys. It's maybe a difficult read at first, it going into detail about my near-death experience and one breath away from being an OD, but bear with me, it turns into something so much more if you just hang on and read what I write!
This is exactly what I remember happening, how I remember it happening. Me for some reason not remembering this right away but having to work this memory as the biggest, most complex Jigsaw puzzle in the world for maybe around 3 weeks in total inside my mind in order to put everything together into a whole image I can share with you guys!
The only thing you guys have to know before you read this is that 22nd November 2016 my younger brother, 18 years old, OD'd on Codeine and Zopiclone, dying an Opioid/Non-Benzo overdose. Me being woken up that morning, walking outside of my room and noticing there being around 10 both cops and EMTs on the scene. I was so confused as to what had happened that I had to see it for myself, and as I walked to the door to his room and turned my head around the corner, I saw him. My sweet baby brother lying there, cold as a popsicle, dead on his floor. My father having tried CPR for the entirety of those 40 minutes it took the ambulance to reach us. That was it. I'm done talking about the hardest day of my entire life, you don't need to know more. Aside maybe from my brother's name, it being Elias.
So it basically started in either late December or early January 2017-2018, with me driving some friends around who then picked up some people and before I knew it the friends had departed from my car and I was just surrounded by some people I had no idea who even were. I had recently lost my apartment and was on the streets, just living in my car, for the most part, sometimes my mother supported me with some nights at a hostel, but mostly I slept in my car.
After a while, all the people cycle out of my car and I'm left with this one, maybe around 35, dude who for some reason was just a jolly fucking roger and somehow managed to always be pleasant in conversation. Very charming and so fucking nice that I could have brought him home to my parents without being gay and my parent's not even noticing him being a dude so they wouldn't resent me for "coming out of the closet"...
He asked if I could take a small car ride with him out of town. I had nothing to do so I just said "Why the fuck not? I don't have any other place to be!" This was very late at night and we drove to some remote place I had never been to and didn't even know existed until just then.
He offers some junkies that are waiting for us to enter the car, it being freezing outside, it being like -30°C outside. They handed him a small package of something and he handed them some cash. They counted the cash and left. We stopped a few times in the side of the road after that on our way back to the city, the first time him revealing what it was he was actually buying from those junkies.
He opened the box in front of me and pulled out something that looked like a patch or something, him saying that this was a 100µg Fentanyl patch which he then cut just a little piece from and vaped on aluminum foil, sitting there next to me in the car.
I had never seen anything like it, that it was possible to ingest some sort of bandaid in this manner. That there were Fentanyl patches going around my town and how absolutely SMASHED he got from inhaling some vapor from that aluminum foil.
I didn't think much of it and dropped him at home. A few days later he calls me and asks me to come to the head shop he owned back then and ran alongside his father, who really did all the work, this guy only spending the profits on, apparently, Fentanyl and Oxy and some shit like that. He said he was gonna show me something special.
I, again, was homeless, so I just thought to myself: "Where else would I go? At least there I have a roof over my head!" but decided to have one of my best friends back then with me as backup as I didn't know what I was about to walk into.
We arrive at his shop and, there being something about this guy, his personality being absolutely one of a kind, we talked and joked some, until he drags up a glass pipe and this package of 5x Fentanyl patches as well. He then gets his scissors and starts cutting these tiny ass pieces off one of the patches he had, puts it in the pipe along with some tobacco and takes a hit.
He then offered me and my friend some. Each of us just got in line thinking: "YOLO!!!" And each of us took some hits and I got to experience the single most absolutely gorgeously and best highs of my entire life! It felt amazing just getting a hit from a tiny bit of this patch. The piece he'd put into the pipe each time being so small that if you'd put it on the table, you'd never find it again!
But while I felt how amazingly good it felt to breathe this shit in, I also, at the same time, felt how absolutely amazingly dangerous this substance was and how if it wanted to, it could kill me before I passed the pipe back to him if he didn't dose it correctly! It was so dangerous that I wanted to swear to myself to never do it after that night in question, but it being so fucking good as well that I lost that thought before I realized what I was thinking and just took another fucking hit of this best fucking high I've ever felt in my mind, body, and soul!
While we're smoking this stuff, my friend had some pills he was constantly offering me. I was in the mindset of a 12-year-old trying Weed for the first time, I just wanted to get the fuck fucked out of my skull. Fuck it, I was homeless, he was giving us hits of one of the most expensive drugs around here, he at least never asked us for any money in return, so what did I have to lose?
We partied like there was no tomorrow. At one point him offering us Oxy80 and me purchasing one pill from him, him crushing it down after having removed the film that's always on these pills and me and my friend splitting it, one line each!
I didn't really feel that much from it, maybe a little heat sensation in my legs, but nothing more. Our new friend all of a sudden asking if we had any Speed on us, me remembering that I had like 10 grams stored somewhere in my car, so I went outside to get it. I got locked outside for a while but they figured it out in the end and let me in.
When I handed him the bag of Speed he reached into some sort of purse and next thing I know he's holding a syringe with a needle on the end and him filling us with some bullshit about him rarely ever shooting shit up, him just needing to get some Stimulants into his arm because he had smoked too much Fentanyl.
He starts IV'ing in front of us and can I say and that buddy of mine confirm that seeing it so fucking up close and personal was one of the most horrifying sights I had never thought I would be witnessing at any point in my life. This guy being then the only guy I knew who injected his drugs at some point.
After that, he's feeling all better and gets a message from a Weed dealer friend of his and because I'm so fucked out of my skull, I ask my friend if he can drive, him somehow being able to take the wheel no matter how fucking fucked the both of us are and him driving perfectly in that condition.
We arrive in another part of town at this apartment block which was like 5 or 6 stories tall and was I told it was a part of the University's dorms that people could rent out if they attended the school, even though the actual school was actually somewhere around 30 kilometers THAT way... I never fully understood if it was correct that it was some sort of dorm for the Uni. Because it'd be a very strange place for that dorm since there were literally 30 kilometers to the University which was exactly in the other side of town, we couldn't have been farther from it, actually!
We take the elevator to the top and my friend sneaks me one pill, me just not ever giving it a second thought, just swallowing it whole and moving on. We enter an apartment on the top floor where this insane noise was coming from which sounded like a VERY loud vacuum cleaner but turned out to be an Asic Bitcoin Miner they were mining Bitcoin on for some bizarre ass reason.
Upon entering the apartment two guys greet us. I didn't know either of them but after a short while realized that one of them was the guy that had been accused of sexually molesting a friend of mine in her sleep, her going to sleep with her pants on, her waking up next to him with her pants off. I didn't know the whole story but when I met her after that night I told her where he could be found so she could have her goons do some street justice on his face, repeatedly, for having tried to rape a dear friend of mine.
Anyway, my friend notices a big glass jar sitting on the dinner table filled to the brim with Weed and probably the biggest fucking bong I have ever seen with my own two eyes sitting on the floor next to it. My friend asks if he can take a hit from it with some of his own Weed and does he get the owner's permission to do so. He takes a hit and then tells me to take a hit. I never having taken a hit from a bong before just try my best and without even a second thought I exhale this HUGE cloud of smoke which, according to my friend, "was the largest bong hit he'd ever seen in his life!!!" him almost thirty, having smoked Weed since he was 12!
I instantly feel absolutely smashed. But I still felt as if it wasn't just the Weed causing it, that there was something more at play as I just all of a sudden feel exhausted. I find myself a sofa or a bed or something to sit on and lean my head against the wall.
All of a sudden I realize what those pills my friend was always handing me actually were. Of course, had he bought like 50 Diazepam/Valium tablets from one of our friend's mother who was sometimes dealing more than an actual pharmacy would do on a good day. I realize that we were taking Diazepam, which is a Benzo, maybe a soft Benzo but still a Benzo, while we were smoking Fentanyl and snorting Oxy80 and shit. Me knowing for a fact that mixing Opioids and Benzos almost always leading to an overdose and sometimes, more often than not at least, death!
I feel like I need to make my friend aware of this little fact but before I knew it, my eyes just seemed to slowly slide shut, without me having to even think about closing them.
What I see under my eyelids, which usually is just this black background with this orgy of millions and millions of different colors on it, is all of a sudden just completely different! I see nothing! Absolutely nothing! There was no color, there was no background, there was no anything under my eyelids! I felt as if I was just looking right into the Void! That place where there is nothing and if something happens to go there it becomes nothing as well!
Me feeling my breath always getting slower and shorter, a short while being from that moment to the moment I feel insanely dizzy from little to no oxygen entering my lungs at that moment. My breath being so short that I could have counted a 100 Mississippi's in between those few short breaths I knew I had left.
I start betting on when my last and absolutely final breath is gonna kiss me goodbye and I'm just gonna die from respiratory depression like I've read about would happen in exactly this situation. I was feeling a little cocky, like I was taunting what I knew what was about to happen, me of course in the mindset that if I'm gonna die right then and there, I'd do so with a smile on my face! Me, of course, being more terrified than I had ever been before in my entire life! Basically counting down to my last breath where I'd suffocate and die without anyone at the party noticing anything being wrong.
I then start to see this little white star in the middle of all that nothingness I was looking at under my eyelids, this tiny little star that I somehow felt I was supposed to move my mind closer to. As I start doing so, moving my mind closer and closer to the star, all of a sudden my entire mind goes blank! I'm thinking nothing! I'm feeling nothing! Hearing nothing and I can't feel the fact that I have skin around my bones. I'm completely Depersonalized as I have never experienced before, me being basically a blank slate for some very odd reason.
I then start seeing visions of moments I had in the past with my little brother, Elias, before he died on me and left me to fend for myself in this cruel and unjust world we live in. Some of the things I saw were moments we spent together, moments I always remembered about him and loved to death, but others were these strange moments where I wasn't there and the only person able to remember something like that only being Elias himself!
I'm always moving closer and closer to the star, until I realize it's not a star but a big while circle! Although I can't hear anything, I can feel my little brother, as if he's talking to me, about Rocket League or some music he was producing or something like that he always used to talk about, it all coming from that white circle which was getting larger and larger by the moment!
I then feel just this overwhelming feeling that I'm standing right next to Elias, that I can feel his presence and can almost touch him!
Then when the circle is about to become as big as it possibly can, I feel this insane heat all around me, like the most compassion I have ever felt in my life, like anyone has ever felt in anyone's life! And then it happens. Whatever was going on peaked and I feel every sense of my body and mind feeling as though I'm experiencing Elias with every last thread of my existence, me smelling that smell that was always of him, that smell I always connected in my mind to him and his room, that safe haven where I could check on him at any moment during the week and spew whatever nonsense I had to spew over him and he'd always meet me halfway with more understanding than I had ever gotten from anyone else in life!
Then there was the taste! I could taste, or it wasn't exactly that I could taste it, it was more an emotion that I could feel in my entire mouth and tongue. I don't know what it was or felt like exactly but there was something about it which lead me to believe that Elias was just around the corner. Me feeling as though I was holding him in my arms, him holding me back, me getting that hug I always wanted to plant on him, that hug I never had the courage to give him when he was alive and was finally getting right there in that moment!
As I said, every sense of my being was feeling his presence in some way! Some significant fucking way and was I lead to believe that the big white circle, which was so close to me I could almost smell it, had something to do with my sweet Elias and that he was probably inside that big fucking white circle. Him waiting eagerly to meet me again, me getting ready to kick the door that this circle actually was the fuck down because I was so fucking ready to see my best friend in the whole world again. Me just knowing that if I tore the door down, we'd meet again and spend the rest of time together, in each other's loving embrace!
I know what I'm supposed to do! I'm supposed to enter this big ass white circle! And at the exact moment I had, I get pulled the fuck back by some unknown force. I try entering again but the same thing just happens. I get pulled the fuck back! So for the third time, I try and I put everything I have left into it! It resulting in me getting pulled so far back from the circle that it started looking like this white little star again in no time!
All of a sudden I stop feeling all those ridiculously strong emotions and sensations, I re-enter reality once more and there it the moment I was betting on before! I just know by how my lungs felt like they had been in a huge vehicular crash that this is the last one! This breath that's coming up is the last fucking breath I'm ever going to breathe! I just know it in every fiber of my being!
I'm starting to like the feeling that this is it. That I'm about to leave and never come back! That once and for all, this was how I was gonna die and even though for having tried to off myself a million times in the past, it never appearing to work properly, but it working now and I was finally gonna get a break from all the suffering which is almost the only emotion I have ever felt in my life and was gonna get to see some peace!
When something hits me like I'm getting a hit from defibrillators, all of a sudden I just get this intense shock all over my body and feel my body in its entirety jump from that bed or sofa I was sitting on, my eyes finally opening up, me having to open them myself, even though that was the hardest fucking thing I have ever had to do in my entire life, it felt as if there were billions of tons of lead sitting on my eyelids, me barely being able to lift them just enough to see what's going on right in front of me.
I just know and feel that I'm standing in my own two feet and am I able to walk out of the apartment, out to the open stairwell where the elevator was located and as I open the door outside I just feel the freezing cold air filling my lungs, both my insanely short breath becoming longer and stronger, along with my heartbeat beating over those two beats per minute I had felt it was doing earlier.
For some reason, almost exactly as I feel like I can finally take a deep and good breath again, that I'm not suffocating from the inside, the party is over and do my friend and that Fentanyl guy walk outside and meet me, me having been feeling like I was about to die just moments prior, walking into the elevator and then into my car.
The Fentanyl guy asked if he could drive, I was still recovering from the fact that I was just about a nanosecond from dying inside some guy's home I had never met before, so I tried to utter something that he took as a yes and as I layed in the back seat on the way to his headshop again, him driving like he was absolutely retarded, him never having taken any sort of driver's test, me terrified the whole time in the back that I was gonna maybe experience something like I just did again but after a car crash, it being a miracle that there were no cops around because they would have seen by how the car was driven that either he had never driven a car before, someone was drugged out of hist fucking skull under the wheel, or both, which was exactly the case!
We get to the headshop and I just pass out on the couch, waking up an hour later with his dad standing over me holding a piece of aluminum foil which had obviously been used as something to vape Fentanyl from and asked me like I just fucked his wife: "WERE YOU GUYS SMOKING FENTANYL IN HERE ALL NIGHT????"
Me just trying to say something, trying as hard as I could, in the end just walking out of the shop, realizing that my phone was dead and I didn't have my charger while my car wasn't anywhere to be seen on the parking lot.
I was fucked! I had nothing to do, nowhere to go and my apartment had just been stolen! Everything after I almost died from an overdose the night before. I couldn't believe how much of a shit I would have become and promised myself never to reach such a low fucking place, while I cried and bought a new charger at the mobile phone store that was next door to the headshop....
So yeah! That's the story I wanted to tell you! What do you think? Me reaching a new low point in my life, me never having gone so low before and never having gone so low after this happened, thank fucking god!!!
To me, all I experienced about my sweet brother Elias, all the emotions, the sensations, the feelings, everything, was my mind realizing that I was about to die and in order to make sure that I didn't suffer as much as I could have, it administered something like a pretty fucking strong DMT trip or something like that to soften the impact that dying would have been!
This being very similar to every single story I have ever heard about people who have either died or escaped death by the skin on their ass. It almost being exactly like some stories, life flashing before you, you seeing some loved one's, feeling intense and otherworldly emotions and feeling you didn't think anyone was capable of feeling. Even the "tunnel of light" some people talk about was there in the form of my white circle!
I gather that I was about to die, was gonna die, had basically written in hell's guestbook already, but something, probably just my body not accepting this death I was about to experience, it making a break for it in the end, which was what saved me!
Even though I sometimes hate my body and even recently got diagnosed with type 2 diabetes, I must admit that you, body, you're all right!
I want this tale to serve as a cautionary tale to anyone and everyone who has thought about mixing Benzos and Opioids! Along with being just me telling anyone and everyone who cares to hear it to stay the fuck away from fucking Fentanyl!
Don't do it! I beg you! Don't even think about touching the Fent! Please! Do it for me!
I hereby wish you all a happy Friday as writing this whole thing took me like two and a half hours or so, it having been Thursday when I started!
Peace and love to you and everyone you care about and love!
Sincerely yours, Russel Dunbar!
submitted by RusselDunbar to Drugs [link] [comments]

Triple Increase On BTC Transaction Fees Just Before Bitcoin`s Third Halving

Triple Increase On BTC Transaction Fees Just Before Bitcoin`s Third Halving

The Average Price Per Bitcoin Transaction Reached $3,19 On 8th May, After Increasing With 300% From $0,62 Per BTC Transaction, As Of 26th April
The world of cryptocurrencies is franticly preparing for Bitcoin’s third halving event, which would cut down the reward that miners receive for validating transactions.
Historically, prior to a halving event, transaction fees skyrocket. The last halving resulted in peak transaction fee of $0,62, with transactions costing a mere $0,10 just weeks before.
Source: Bitinfocharts
However, the halving event means something more than just transaction fees increase. Bitcoin suffered from increased volatility over the past weekend, with prices swinging from close to $9,700 on May 10, to shrink as low as $8,466 on May 11. Nevertheless, Bitcoin’s price is still 40% up year-to-date (YTD), which implies strong support from Bitcoin bulls. The price swing outperforms serious investment assets like gold (XAU) and U.S. dollars.
Speculators expect the halving event to boost Bitcoin’s price, as the price inflation reduces when the reward for mining a Bitcoin block reduces in half. Тhe primary reason behind both Bitcoin’s price increase and inflation reduction is a term, called scarcity. Scarcity resembles how rare to obtain a given asset is. Meantime, Bitcoin’s user base is exponentially increasing. The current 1,800 BTC-per-day premium would be reduced to 900 BTC per day.
Joe Llisteri, the co-founder of crypto derivatives exchange Interdax, stated that over time, the reduction of BTC supply would ultimately lead to a reduction in sell pressure. “The factors add up to an increase in upwards momentum for Bitcoin’s price.”, Llisteri added.
Llisteri also noted that this time Bitcoin’s upwards momentum may see a slower effect, due to progressively longer life cycles for Bitcoin after a halving event. “Currently, we are looking at 18-24 months until a possible all-time high. Timewise, Bitcoin may reach an all-time high between October-November 2021 and May-June 2022.”, Llisteri concluded.
However, small and medium-sized miners may take a serious hit, as the price reward cut may mitigate all possible earnings from small mining enthusiasts and mid-sized mining rigs. Even with the much-anticipated Bitcoin price boost, much of the miners may shut down operations prior to the price increase.
Speaking of mining, Bitcoin’s hash rate continues to keep a steady growth, slightly declining from its yearly high of 123.2 terra hash-per-second (TH/s). There are two possible scenarios – either more miners are joining the Bitcoin network, or current miners are driving their existing rigs to a maximum.
submitted by Crypto_Browser to CryptoBrowser_EN [link] [comments]

Miners lose half their revenue today, and here's what that means for the rest of the Bitcoin ecosystem.

Miners are the bedrock of the Bitcoin ecosystem. Today, as a result of the Halving, their Bitcoin-denominated revenue is being cut in half. I wrote this article to help explain the impacts of this and really hope you guys find it informative.
Some quick highlights:
Here's the full article, thanks for taking a look! Any feedback and input would be appreciated.
submitted by heist95 to CryptoMarkets [link] [comments]

Smooth BR reduction proposal

Smooth BR reduction proposal
Today, when the Covid-19 is outbreaking throughout the world, the worldwide finical markets are suffering and the governments are taking multiple urgent methods to fight against the coming finical crisis. The U.S. stocks melted down for the fourth time in ten days, the New York Stock Exchange was shut down urgently, and financiers urged the government to stop shorting stocks and make every effort to resolve the liquidity crisis.
The crypto market has also taken a beating. The whole market cap evaporated over 50% within 2 weeks. Small crypto projects are suffering and several uncompetitive projects have been dumped to zero since no buying orders have been placed on the market, essentially a death sentence. But this is just the beginning of the nightmare. No snowflake is innocent during an avalanche.
As an early involved member of Pigeoncoin and having volunteered many years of my energy to help make progress for this project, I am calling on your support for a smooth block reward reduction proposal to help our projects survive this crisis.
Reasons why we need a change on our coin emission:
(1) The economic model and coin emission rate are not well designed to survive in the bear market.
As we know Pigeoncoin is a fork from RVN and as such just inherited the Bitcoin mining release mechanism concentrated by 1000. This means we have 7.2M daily coin emissions. The founder Luke and genesis team were great to launch the chain with a nice idea ——working on an algo innovation and leading the way for a decentralized social media platform for the community to explore. Pigeoncoin was born at the end of the last BTC bull run, enjoying its merits and growing fast, however, it lacked a robust economic model and the talent to point out these defects. With years of the slow movement towards our decentralized goal, the community is no longer as active as before and we gradually lost support from our previous members, when the community is not expanding its scale, while a large number of coins are mined and dumped on the market, it is inevitable to see the price drop and early holders are losing hope. A healthy circumstance is that we have the hope to hold and to attract more people to join us who are concerned about the problem our goal aims to solve, then the liquidity will be positive since there would be rising demand so the supply would be balanced. But during a long-term bear market and shrinking of the community members, demand is very limited while the coin supply remains very high, causing us to fall into a vicious cycle.
(2) Harsh market conditions make us very vulnerable
It has been noticed by a lot of our community members that there has been a dominant unknown hashrate on our PGN network. Though the incentive of these mystery miners is still unclear, it is without doubt damaging to our decentralized spirit. Unfortunately, there were no effective methods to drive these big mining monopiles away from small altcoins, especially when small miners have no advantage competing with them (Cheap equipment, electrics, money) during the bear marketing since no one wishes to mine at a loss. Clues have been provided from an exchange that whale miners are continuing to kill price. Recently several altcoins projects report that they are dominated by unknow miners. If you are interested please go to miningpoolstats to find some more evidence of this. A small project was recently 51% attacked 2 weeks ago after it was dominated for a period. We are also highly vulnerable since no one could predict these senseless actions would be taken by outrageous crypto miners during the market depression.
(3) Liquidity is almost exhausted at this moment
Not like someone mentioned since we have high coin supply and everyone would have equal right to buy a bunch of PGN at a bargained price. The cruel fact is that if you take a look at the exchange liquidity, I couldn’t tell how bad the situation is. Though other altcoins may have the same problem at this moment when the price is infinitely close to zero and most of the people lost hope and choose to dump and leave the community, it is hardly an easy task to regain the confidence again so that would be the end game of the project. So, we should face the fact that not the more coins the better, we should start to find a way to take efficient actions to survive through the crisis.
The proposal of launching a smooth BR reduction in PGN network
In light of the discussions above, I am proposing a smooth BR reduction proposal to help the Pigeoncoin community work through this hard time. Many altcoin communities have discussed and started block reward reduction actions in the last year to tweak their economic model and optimize their coin emission rate to keep the balance of the market performance and community confidence. Beam for example, initially reduced its block reward on January 5th which is a modification of its traditional BTC coin emission model. Ritocoin, we are familiar with its block reward reduction after mainnet had been running for months to help the confidence of the market. Sero coin has voted and executed twice halving within 4 months with community support. In other words, the community should dynamically incorporate its coin emission according to the market environment and it is also a genius exploration of community governance. Famous projects like ETH, DASH, EOS all have adjusted its coin emission rate with a hardfork after community agreement.
Pigeoncoin is very unique since we are going to implement masternodes on our network and the nature of masternodes is to encourage more masternodes to be set up to develop the network. Although setting up masternodes would make contributions to reduce the dumping pressure on the market, the masternodes mechanism is not a hardlock. When the price is fluctuating, masternode holders can easily release coins from the masternode to the market, and 20% BR from masternode is a limited amount to help reduce the supply in the long run.
As the goal of Pigeoncoin is to offer accessible coins for more crypto users, we have a 21 billion total coin supply and we all agree on this design. After finding the most suitable method to help optimize coin emissions, I would suggest we take the smooth BR reduction model from Ritocoin which has been tested and found to be robust and efficient. The idea behind the smooth block reward reduction is to accomplish a reduction without causing a major upset to the market economics of the coin (i.e. avoid the traditional halving behavior).
https://preview.redd.it/xtx4pssnz5o41.png?width=639&format=png&auto=webp&s=34f82c3e5a1f9b45ad9f223b7c9667fbf311fbfe

https://preview.redd.it/vnv7a6epz5o41.png?width=1268&format=png&auto=webp&s=254157f4efa13bb624d4f9248f64d6275e06932c
We should consider to implement this BR reduction mechanism since it is a very efficient way to cope with the incoming crisis and maintain the development of Pigeoncoin to realize our goal. Since we are planning to launch our hard fork for masternode next month I suggest the most cost-efficient way is to raise community discussion and vote for a choice if we should take this as an opportunity upon next hardfork to avoid frequent forking.
Here are two ways of possible voting:
Ø 2 versions of clients and let the miners choose which they support as a final network.
Ø After our Masternode fork once Masternode voting has been enabled.
Thanks for your concern, and I wish we can work together to help our Pigeoncoin community fight through this hard time and realize our ambiguous goal. I wish you and your beloved have good health and everyone could embrace the next crypto bull run.
submitted by bztianjiao to Pigeoncoin [link] [comments]

Miners lose half their revenue today, and here's what that means for the rest of the Bitcoin ecosystem.

Miners are the bedrock of the Bitcoin ecosystem. Today, as a result of the Halving, their Bitcoin-denominated revenue is being cut in half. I wrote this article to help explain the impacts of this and really hope you guys find it informative.
Some quick highlights:
Here's the full article, thanks for taking a look! Any feedback and input would be appreciated.
submitted by heist95 to Bitcoin [link] [comments]

BSoV: The Minable and Deflationary Token

The year 2020 exposed many of the negative aspects of the current financial construct which the world relies on. On 4/9/2020, the Federal Reserve announced that they would inject another $2,300,000,000,000 (2.3 Trillion, you read that right) into the U.S. economy. With the threat of Covid-19 essentially shutting down the daily operations of the economy overnight, something HAD to be done, right? Where there any other options? Many people are expecting a $1,200 stimulus check to cushion the pockets of people affected by the mass layoffs and market collapses. I myself asked a simple question, "What are the long term consequences of diluting the market with the USD?"
This question is one that should be asked over, and over, and over by every single person who receives a paycheck from their employer or government regardless of where you reside in the world. The U.S. dollar is the dominant monetary force in the global economy, and it dictates much of the value of all things being bought, sold, and utilized in said economy. It is common and public knowledge that the dollar has been subject to inflation: in 1913, the same $100 you had then would only have the purchasing power of a about $26 today. One could expect, in theory, that this number will diminish even more because of the drastic amount of USD injection occuring because of this pandemic. Most people cant afford basic necessities because of this ridiculous level of inflation caused at the hands of the Fed.
As many of you know, Satoshi Nakamoto had a response to this type of stimulus and bailout system the Federal Reserve has created and enlisted at any opportunity to respond to a crisis. It was called Bitcoin, and today it has become a financial power to be reckoned with. It has brought governments to terms with the fact that their systems are not efficient, along with putting power back into the peoples hands when it comes to controlling and utilizing their own money. There are no restrictions on how much Bitcoin you can send. There are no restrictions on whom you can send it to, and there are no ways to hide whom you've sent it to using blockchain technology and cryptography to secure its network and create a database of all transactions. The creation of Bitcoin was an answer to many of the problems with the financial system.
On June 17th, 2019, a person under the pseudonym "Mundo" also tried to provide an answer to some of these problems with a laser focus on inflation. The solution he proposed (we have not seen the long term benefits, so the solution is not quite yet an answer) is BSoV, or BitcoinSoV (Bitcoin Store of Value). BSoV is an ERC20 token which utilizes the EIP918 protocol first utilized by a similar token called 0xBTC. EIP918 allows both BSoV and 0xBTC to be minable on the Ethereum blockhain via a smart contract. Following the same distribution model, consensus mechanism, and total supply of Bitcoin (Fair Start, meaning no ICO, Premine, or developers fees; Mined using PoW, specifically Solidity SHA3; 21,000,000 total supply, divisible to 8 decimal points, with the same amount of halving eras as BTC) BSoV differs in one very different way: a 1% transaction burn built into its code.
With BSoV, every transaction is subject to a mandatory 1% transaction burn when a transaction is sent and confirmed on the Ethereum blockchain. The deflationary mechanism is the solution that Mundo proposed as an answer to the inflation the peoples money is exposed to because of the negligent actions of the Fed. This inflation is created out of the control of the people, and their purchasing power is diminished. With BSoV, the deflationary aspect is out of there control, but the end result is the opposite; an increase in its value due to scarcity and exchange of resources from its consensus mechanism. (This is a great scholarly article which details how mining provides a bottom value to PoW coins/tokens due to resource exchange, ie. Computing power, electricity, etc. https://www.sciencedirect.com/science/article/abs/pii/S0736585315301118)
It's important to note that the project has not been around long enough to see its end goal or vision come to fruition. This is precisely why I am writing this article. More is needed to help study and analyze if this is the answer to this problem. What I can say is that this is one of the few real potential answers that have been proposed, created and implemented to try and combat the Fed. With mass adoption, can we have a true store of value solution that protects itself from the self burdening negligence of the powers that be? Do we have to keep loaning our money to banks to invest for free, only for them to need a bailout every 10-20 years due to poor monetary management and investing sprees? An immutable smart contract that cannot be 51% attacked or controlled by those in power might be worth pursuing.
I'd like to end this article on a more transparent note about myself and my involvement with the project to help shed light on any apparent bias or misconceptions that some may have about my intentions here. I am one of 927 current holders and community members. I mined BSoV after I joined the telegram group and got involved on July 4th, 2019. I have never been paid for my work here, and it is strictly something that I believe in and want to help shed light on to those who might be interested in what the project has to offer. Just like many of the cryptocurrency enthusiast on the on P2P mailing list in 2009, many of us are working together tirelessly to bring one of the few tokens with integrity, transparency and ethics to those who want to experiment and see what may happen.
Something that I have also asked my self is "Whats the worst that can happen?" when it comes to my involvement here.
If the worst is a little time wasted on something I believed in, I will sleep fine at night. But if I am so fortunate to be apart of something that could truly change lives and alter the never-ending downtrend of inflation which has made life so difficult for the average human being, I will have a better nights sleep than I could have ever imagined.
Thank you for your time. I wish all of you health, wealth, and safety during this difficult time.
Sincerely,
BSoV_Chris
(Visit https://BSoV.io for more information)
submitted by Chrisc9234 to CryptoMoonShots [link] [comments]

Summary of Ryan Taylor's economics AMA

Ryan Taylor recently conducted an AMA (ask me anything) discussing the economics of reallocating Dash's block reward. The topic followed up on his "Improving Dash as a Store of Value" presentation from the 2019 open house. I've categorized and summarized his responses:
Objective: reduce the severity and duration of high inflation rates in our circulating supply
Implement joint masternode shares rather than a new proof of stake system
Increase masternode and treasury share of block reward, reduce mining share
Keep X11 mining for now, ensure Dash dominates X11 hashing by 10x
Block subsidy belongs to the network, to be used for all needs, not just mining
Commentary on masternode ROI, plans to conduct and release supporting analyses
Timing: discuss now, detailed proposals starting as early as next month
submitted by ISkiAtAlta to dashpay [link] [comments]

AMA Recap of CEO and Co-founder of Chromia, Henrik Hjelte in the @binancenigeria Telegram group on 03/05/2020.

Moh (Binance Angel)🇳🇬,
Please join me to welcome, “CHROMIA CEO & Co-founder, Henrik Hjelte” and “ CMO, Serge lubkin”
Oh, before we proceed, kindly introduce yourselves and tell us a bit about your roles at Chromia u/sergelubkin & u/henrik_hjelte.
Henrik Hjelte,
Ok, I’m Henrik, I’m CEO of ChromaWay that crated the Chromia project. My background is a bit mixed: developer for 30+ years (since 80: s), but I studied other things at university (economics, politics, social sciences philosophy). Life is more than computer you know… I worked with FInance/IT then started a web startup and got to know Alex Mizrahi who worked as a developer….
Web startup didn’t fly, but Alex showed me bitcoin. When I finally read the whitepaper I was blown away, and joined Alex colored-coins project, the first open source protocol to issue tokens. in 2013.
So, we started with open-source tokens (that kickstarted the blockchain industry. Then started company together 2014.
That is a long intro, I’ll shut up now… Thanks….
Serge,
I’m Serge, I’m assisting Henrik today and I work with Chromia marketing team as well as on some business development projects
Moh (Binance Angel)🇳🇬, , Question No 1 :
Kindly describe the CHROMIA project and what it aims to achieve?
Henrik Hjelte,
Chromia is a new public blockchain based on the idea of integrating traditional databases, Relational databases with blockchain security. Chromia is a general purpose blockchain with full smart contract capabilities, just that it is a lot easier to code, even complex applications. You code with an easy to learn new programming language that combines the power of SQL and normal languages but makes it secure in a blockchain context. Up to 1/10 the code-lines vs other blockchains. There is a blog post about it, I’ll share later. On lines of code.
The aim of Chromia is to combine relational databases, which exist in every kind of organization, together using blockchains. We want to provide a platform for our users to develop totally decentralized apps securely. Our goal is for Chromia to be seen as the number one infrastructure for decentralized applications.
https://blog.chromia.com/reasons-for-rell-compactness/
Moh (Binance Angel)🇳🇬,Question No 2:
What inspired the CHROMIA Core team to pick interest in CHROMIA project? what breakthrough have you achieved so far? what are the present challenges you’re facing and how are you planning to overcome them?
Henrik Hjelte,
We started with public blockchains, tokens in 2012, the world’s first stable coin with a bank 2015 (LHV). When coding that solution, peer to peer payments of Euro-tokens, we discovered we need performance reasons to store all data in a database. We needed to quickly know the “balance” of a user, and can’t loop through a blockchain. And slowly the idea grew that we can make the database INTO a blockchain, integrate completely with the transaction mechanism of a database. So, we did it as a private blockchain first (Postchain), used it for some projects, then came up with the idea to make a Public Blockchain based on it.
The motivation is that we felt we needed a better programming model for blockchains. Our CTO Alex has always been thinking of optimal solutions for blockchain technology and has lots of experiences thinking about it. Also: make real-world useful things. For example, we support free-to-play models since users do not need to own “our” token to USE apps, the application itself (often the developer) pays for hosting. And of course, great performance. Also: more knowledge of who runs nodes and risk level. So, it is more suitable for enterprises.
In Chromia the application (at the start the developer) decides Who should be allowed to run its own blockchain (every dapp has its own blockchain). You can also say on a higher level that we want to provide technology to create “Public applications”, a tool
that enables us to create a fairer world.
https://blog.chromia.com/towards-publicly-hosted-applications/
Moh (Binance Angel)🇳🇬, Question No 3 :
Why did you create your own blockchain instead of leveraging on existing and proven base layer protocol?
Henrik Hjelte,
None of the existing protocols are suitable to support large-scale, mainstream applications. We designed Chromia to give our users exactly what they want; fast support, useful features, with an affordable service cost. Other platforms do not have the ability to host data applications in a decentralized and secure way, as Chromia can. Chromia also has its own bespoke programming language that sets it apart from SQL-based platforms. It’s so easy to use, even non-developers can understand it!
The other big difference with Chromia concerns payments. Chromia gives its users freedom from having to pay for each transaction. With Chromia, you have the flexibility to decide how to set fees for your dapp
And when it comes to “proven base layer protocols”: they are just a few years at max. Chromia is built on top of Postgresql, that has been used in enterprises for decades, a really proven technology. And the Java virtual machine on top of that. This is proven tech, at core.
Moh (Binance Angel)🇳🇬, Question No 4 :
What is Postchain?
Henrik Hjelte,
Postchain is an open-source product of ChromaWay for enterprise clients and it’s the core technology on which Chromia is built.
Postchain is a replicated blockchain and database that offers highly resilient distributed database management with distributed control.
Postchain is the only product on the market that combines the immutable consensus of a blockchain and the properties of a real database management system (You know, the tech that built SAP, Facebook, Banks…) …
Postchain allows you to share information between companies and/or individuals in a secure and transparent way.
That is the low-level base of Chromia you can say
Moh (Binance Angel)🇳🇬,
Can you please name some of your clients that are using this service already?
Serge,
You mean products built on Postchain? Also, Stockholm Green Digital Finance, Green Assets Wallet that’s now functioning on Chromia Bootstrap Mainnet.
Big financial institutions
It’s only a beginning of course, but very promising one. https://greenassetswallet.org/news/2019/12/12/launch-of-the-green-assets-wallet
Henrik Hjelte,
We got a lot of attention with the Swedish Land registry; we did a joint project between them and banks and a telco etc on postchain as base.
Then, right now we do a large project with the Inter-American Development bank also about land-registration (processes) in South America.
We had a client, Stockholm Green Digital Finance, that did a system for green bonds (tracking environmental impact. Yes, as Sege says, it was later moved to Chromia…
Which is cool. Also, another external development company did that phase of the project, proving that other can build on our tech,4irelabs from Ukraine is their name. Some companies using the GAW: Blackrock. SEB Bank etc…
Also, we have done more projects, in Australia, asia etc. Oh Daimler too (the Mercedes company) …
Moh (Binance Angel)🇳🇬,
Lots of enterprise clients you’ve got. No wonder I do see the meme “CHR=ETH KILLER”
Serge,
It’s a meme from our supporters. But we believe we can coexist:)
For some niche things eth is good :)
So, no killing :D
Henrik Hjelte,
We want to work with partners too for this, we can’t do all projects ourselves. Also, for Chromia projects, ChromaWay company can help do support maintenance etc. So, it is not competing, it adds value to the ecosystem.
Yeah ETH is good too, for some applications. We are friends with them from colored-coin times.
And colored-coins inspired ETH, and ETH inspires us.
Moh (Binance Angel)🇳🇬, Question No 5 :
Lastly, CHROMIA is already doing very well in terms of business. You just got listed on BINANCE JEX, you are on-boarding new clients and dishing out new features. But what’s next? Is there anything to be excited about?
Henrik Hjelte,
Plans for 2020 are to both release a series of dapps to showcase how fantastic Chromia is, as well as continue to develop the platform. And when it is secure and good enough, we will release the mainnet.
Dapps are now being made by us as well as others. We do a decentralized social network framework called Chromunity, now released to TestNet. It is really cool, users can vote over moderators, and in the future users might even govern the complete application, how it can be updated. This is a great showcase for Chromia and why we use the slogan Power to the Public.
https://testnet.chromunity.com/
Games coming are:
Mines of Dalarnia (by Workinman Interactive). An action game in a mine with blockchain rental of plots and stuff. Already on TestNet and you can take a peek on it at https://www.minesofdalarnia.com
more coming…
Krystopia 2, novas journey. A puzzle game done by Antler Interactive. Could only find trailer though: https://www.youtube.com/watch?v=-G95-Dw3kI4
However, we have even larger ambitions with blockchain gaming…
We are doing A secret demo-project that we do together with Antler to showcase the technical potential of Chromia platform.
Another exciting relase is an indie game Chain of Alliance, done by two external developers. It is a strategy game with full-logic on blockchain. Public release on TestNet on May 22!
More coming in 2020: Other dapps from other companies, one in impact-tech.
That is a serious app, Chromia also works outside gaming and social media for enterprises and startups
And I hope some of you will do something, we want to support dapps on the platform so reach out to us…
Moh (Binance Angel)🇳🇬,
When can we be expecting the mainnet? Any approximate time? I’m sure the community will really excited to have that info
Serge,
It’s now in Bootstap phase, so it’s technically already functioning. MVP will be very soon
Stay tuned;)
Twitter questions Vs answers
Ellkayy,
What’s the unique thing in Chromia that no other blockchain has, that makes you the better option?
Henrik Hjelte,
Unique: Chromia is the only blockchain that also has a real, proper database built-in. And blockchain is about managing data in a shared context. How to best managed data was solved in computer science already. So far, it is the relational algebra model that is used in 100% of all enterprises, and has an 85% market share. Chromia is the only blockchain that use that model and that power.
Ellkayy,
Why Chromia use RELL and not SQL or JavaScript? Can developers with other language knowledge use Chromia?
Serge,
Rell is the only language on the blockchain side. You can combine with anything on client-side, although now client only exists for JS/TS, C# and Java/Kotlin. Rell is a language for relational blockchain programming. It combines the following features:
1 Relational data modeling and queries similar to SQL. People familiar with SQL should feel at home once they learn the new syntax.
2 Normal programming constructs: variables, loops, functions, collections, etc.
3 Constructs which specifically target application backends and, in particular, blockchain-style programming including request routing, authorization, etc.
Rell aims to make programming as convenient and simple as possible. It minimizes boilerplate and repetition. At the same time, as a static type system it can detect and prevent many kinds of defects prior to run-time.
Roshan DV,
I have been monitoring your project for a while but some concerns about it: Your project will build your own core network, so you have more visibility than Ethereum and NEO. These are projects that were born before and which also have a very large community. And what can assure you that your project will guarantee the functionalities that you have defined?
Henrik Hjelte,
What came first? I want to remind that Vitalik was in the colored-coins project, led by our CTO and we had blockchain in production before ETH and NEO etc existed. We are the old dogs…
Large community: We are part of the same community. When developers are fustrated and want to try new tech, they go to us from other blockchains.
Also, we have a large potential: SQL (close to Rell and our tech) is the world top 3 language. Bigger than Java. Bigger than PHP. Only beaten bny HTML and javascript. Soliditiy is not on top 20 list. THere are millions of developers that know SQL. That is potential for community… (source is Stackoverflow annual programming survey).
Paul (Via Manage),
What are the utilities of Chromia and what purpose does the Chromia coin serve?
Serge,
Chromia meta-token called Chroma (CHR). It is used in Chromia to compensate block-producing nodes by fees. In Chromia, fees are paid by dapps, which can in their turn collect fees from users. Chromia provides mechanisms which balance the interests of developers and users. Dapp tokens can be automatically backed with Chroma, providing liquidity and value which is independent of investment into the dapp. Dapp investors can be compensated in Chroma through a profit-sharing contract. For developers, Chromia offers the opportunity to derive income from dapps. This incentivises the creation and maintenance of high quality dapps because better dapps generate more income and create more demand for tokens owned by the developer. The Chromia model is designed to support sustainable circular economies and foster a mutually beneficial relationship between developers, users, and investors.
Idemudia Isaac,
Thank you very much u/henrik_hjelte u/sergelubkin
You stated your plans for 2020 is to release series of dApps. What kind of large scale, mainstream decentralized application and $Chromia products do you think is suitable for the Nigerian environment?
Henrik Hjelte,
Actually, this is why we want to work with partners. We cannot know everything, For African market we have seen of course payments/remittances (but it has fallen out of trend). We would love to do real-estate /land-registration but we understand we need a strong local partner (more than a single person, a real company or organization driving).
●CC● | Elrond 🇵🇭,
What plans do you have to building a vibrant global community around Rell? And how would you go about encouraging/incentivising such ‘Rellists’ around the world to build dApps on Chromia? u/henrik_hjelte u/sergelubkin
Henrik Hjelte,
For developers (I am one too, or used to be) you normally need to prove a few things:
\ That the tech is productive (can I do apps faster?)*
\ That it is better (less bugs, more maintainable?)*
Then the community will come. We see that all the time. Look at web development. React.js came, and developers flooded to it. Not because of marketing on Superbowl, but because it was BETTER. Fewer bugs and easier to do complex webapps.
So, at core: people will come when we showcase the productivity gains, and that is what we need to focus on.
●CC● | Elrond 🇵🇭,
Why do you choose to build Chromia token on ERC20 instead of other blockchain such as BEP2, TRC20…or your own chain while ERC20 platform is very slow and have a case of fee? u/henrik_hjelte u/sergelubkin
Serge,
So far Ethereum has the best infrastructure, it’s the oldest and most reliable network for tokens. It also became the industry standard which exchanges utilize. We will transfer 80% of all erc20 tokens to our Chromia blockchain when it’s ready for that.
Koh,
In your whitepaper it says in the upcoming version of ChromiaWallet that it will be able to function as a Dapp browser for public use. Q) Will it be similar to the Dapp browser on Trust Wallet?
Serge,
It’s live already try it http://vault-testnet.chromia.com/
It’s the wallet and a dapp browser
CHROMIA is SOLID,
Your metamorphosis is a laudable one,surviving different FUD, how have you been able to survive this longest bear market and continue building and developing cos many projects have died out in this time period!
Henrik Hjelte,
You need to know we started a company before ETH existed. There was 0 money in blockchain when we started. I did it becuase it was fun, exciting tech and MAYBE someone would be interested in the thing we made “Tokens”…
We were never in the crazy bull-market, manly observed the crazies from the side. We fundraised for CHR in a dip (they called it bear market). ChromaWay the company also make money from enterprises.
Алекс,
What is SSO?
What makes it important for chromias ecosystem?
Why should we users be attracted to it?’
Serge,
Chromia SSO is perhaps the most important UX improvement that Chromia offers the decentralized world. It revolutionizes the way users interact with dapps. Any dapp requires users to sign transactions, that means they need a private key. Control of the private key is control of any and all dapps or assets associated with it. This means that private keys have an especially stringent set of security requirements in a blockchain context — they control real value, and there is no recourse if they are compromised or lost. https://blog.chromia.com/chromia-sso-the-whys-and-the-whats/
Olufemi Joel,
How do you see the Chromia project developing in 3 to 5 years, both on the commercial level and on the evolution of the company? What are the plans for expansion in different regions? Are you going to outsource the team/skills or keep it centralized and set up offices?
Henrik Hjelte,
I take part of the question. On outsource: we were a distributed team from day one, with co-founders from 3 countries (still living there). We are distributed now, Ukraine, Sweden, Vietnam, Croatia, China are “hubs” then we have individuals too. No big plan, just where we found great developers…
Park Lee, u/henrik_hjelte
You claim CHOROMIA have fast support, useful features with an affordable service cost. That fast and the fees are cheap but can you guarantee stability?
What’s the Algorithms which are used by CHROMIA for that fast? And Can you explain it?
Serge,
We use PBFT protocol with some features of DPOS, this plus sidechains parallelism offers almost unlimited speed and scalability. We also use the feature called anchoring to secure all transactions in batches on Bitcoin blockchain.
Mario Boy,
What are you guys trying to achieve as an end goal? The next Ethereum? Or the next enterprise version of Ethereum? Or something different?
Henrik Hjelte,
The end goal… good question. When we started in 2014 there were no other blockchain companies, so we wanted to do the best blockchain technology in order to enable a decentralized world with more fair applications. And that is what we still do. Technology/software that can enable people to make a fairer world
Erven James Sato,
“STAKING” is one of the STRATEGIES to ATTRACT USERS and ACHIEVE MASS ADOPTION
Does your GREAT PROJECT have plan about Staking?
Serge,
Yes, we announced our staking plans couple of months ago https://blog.chromia.com/on-providers-and-stakes/
We are working with our current partners to make it accessible for general public.
Chizoba,
I often see Chromia and ChromaWay being used interchangeably, what is the relationship between the two?
Henrik Hjelte,
ChromaWay the company started Chromia from code done as postchain. This is normal in open-source development, a company that leads development. But Chromia will be a decentalized network, so ChromaWay will not make direct money out of it more than if we have a role as a Provider (and get payed for hosting). ChromaWay can indirectly make money from optional support and maintenance etc. Also, this, perfectly normal in open-source world.
And it also benefits Chromia that there is a market for support.
A market open for competition.
No special treatment for “ChromaWay”
Enajite,
How to start coding on Chromia?
Henrik Hjelte,
Go to https://rell.chromia.com and follow the tutorial. Enjoy the free time you get compared to other blockchain languages…
●CC● | Elrond 🇵🇭,
Chromia process 500 TPS, these is slow compare to other Blockchains, where we can see now 60K TPS if more capacity require, how can that be? u/henrik_hjelte u/sergelubkin
Serge,
Yes, if you need faster speed you can use parallelism by having multiple blockchains for your dapp. Also, by optimization and better architecture sky is the limit.
Delphino.eth ⟠,
Can we consider Chromia an hybrid? For its mixing of Blockchain and a Database?
Henrik Hjelte,
Yes and no. I want to stress that Chromia is a FULL blockchain. It is not only “inspired”. It is a blockchain AND a database.
I tend to think about Hybrid more in the usecases that you might have as a customer. For example, a bank might want to have some data/transactions private (as a private blockchain) and have another half of the application with public data (on Chromia). So that is a hybrid solution, and Chromia ROCKS in that segment since it is the only blockchain that is complete relational database (what the normal world uses anyway for 85% of all applications)
Example area: “open banking”
Steve bush,
How will Chromia I have any empower Investors, Companies, Developers, Platform Users to
deliver impactful solutions and bring value to people all over the world?
Henrik Hjelte,
In order to make blockchain go big, we need to have users. Users need to be able to use apps with ease. Chromia have features like single-sign on (ease of use), but importantly do not require owning tokens to USE apps.
Also, it needs to be easy to make applications. For example, if you are a student in US and came up with an idea, you want to make an application for your school. Let’s call it “thefacebook”. You code something in PHP and MySQL. DID YOU SEE THAT. SQL. SQL.SQL. It is the same tech that Chromia has but no one else in the blockchain business. SQL rules the world if you look outside the crypto bubble. Google the Oracle head-office… 100% of all enterprises use it… Because it is easy and powerful.
And we even improve on SQL with Rell….
So, compare that with a hacky virtual machine that have a few years…. 😊
August,
“Mines of Dalarnia” is a game that has caught my attention a lot, due to its simplicity and quality. But in the time that I have used it I have not been able to differentiate between the Chromia blockchain of this game and that of the competition? What other games do you have next to develop? I would like to give ideas in those games like a Gamers!
Henrik Hjelte,
We thought about in corona time sports club might want to engage more with their fans digitally. And of course, E-Sports is getting a real momentum as the young generation grows up. Now a bit sad that all games are centralized. My daughter will be sad when (at some day?) they will close down roblox… it happens to all centralized apps eventually… that is what we fix. Power to the Public to control apps and their future. I’ll repost again Alex post. Sorry I like it a lot… https://blog.chromia.com/towards-publicly-hosted-applications/
Bisolar,
Good day Chromia team from a Chromia fan
Can you tell us Chromia’s geographical focus at the moment and the proces it follows for it BUSINESS DEVELOPMENT?
What factors do you consider before identifying NEW MARKETS to enter?
Serge,
Chromia will initially focus on community building in China, Korea, US and Europe. The focus of community growth will gradually expand to other markets as the project gains popularity.
Current community growth strategies of Chromia include:
Chromia blockchain incubator creation to welcome more projects to the Chromia blockchain
Host blockchain gaming conferences, workshops, and meetups to engage with potential users.
Provide online and face-to-face tutorials to engage with dapps developers.
Attract blockchain developers through direct and indirect approach via specialized platforms and communities.
Develop our relations with existing and previous corporate clients, and their partnership networks to participate in their blockchain ventures
Launch Node program to encourage system providers to run nodes on the Chromia blockchain.
Staking program for Chroma (CHR) tokens
Active community engagement via social channels.
Future community growth strategies of Chromia after Mainnet launch include:
Partner with more gaming studios, startups and enterprises
Build local communities with Ambassador Programs.
Partner with external incubator and accelerators to provide blockchain expertise and introduce projects to Chromia ecosystem
Continue organizing hackathons around the world to attract more developers.
Emmanuel,
I want to know the current structure of your roadmap? What is the future roadmap of CHROMIA? Is there any key milestone coming???
Henrik Hjelte,
It is easy to do a roadmap; anyone can make a pape plan. But I think they are used in the wrong way. Software is hard, blockchain is even harder because it NEEDS TO BE SECURE. No MVP releases. We cannot even have roadmap deadlines and skimp on quality. Where we are now though is: Rell language finished so much that developers can write apps and see its magic. We have external devs doing dapps. We have the first phase of mainnet. We have a series of releases coming up. We will release mainnet when it is secure enough, and gradual roll out. I think quite soon, development is going great at the moment, a bit quicker than we though.
Ellkayy,
Why doesn’t Chromia transactions use gas? How do you power transactions then?
Serge,
Main feature of gas in Ethereum is to pay for transactions for miners get rewards. In our scenario Providers get rewards from dapp owners. So dapp owner pays for storing their dapp. It’s like Amazon Web Service model. Then dapp owner can monetize it in its own way.
Ellkayy,
Many developers don’t know RELL, just Solidity and SQL. Is this a barrier or threat to Chromia? Why RELL is better?
Henrik Hjelte,
Very few developers know Solidity. Do a search on github. I referred previously to stackoverflow programming language survey results. https://insights.stackoverflow.com/survey/2019#technology
If you know SQL, you learn Rell in a day.
SQL is the top 3 language here. I’d say there are millions that can easily jump to Rell.
Soldity or other blockchains, not on top 20 list even.
Rell is a hipper, nicer version of SQL that is also a “normal” programming language.
Developers like to learn new things, new languages. Otherwise we would be stuck with PHP, the DOMINANT language. Well, is it still? Seems javascript and react.js and node etc is taking over…
Moh (Binance Angel)🇳🇬,
This brings us to the end of the AMA. It’s been a pleasure being with all of you, THANK YOU. Special shout out to u/sergelubkin and u/henrik_hjelte for honouring us with their presence today❤️
Kindly follow CHROMIA on twitter and join the conversation with their community on Telegram
Twitter: https://twitter.com/Chromia
Telegram: https://t.me/hellochromia
Official Chromia Nigeria Community Channel 🇳🇬 : https://t.me/ChromiaNigeria
Website: www.chromia.com
submitted by dam30 to Teamchromia [link] [comments]

Bitcoin Faucet: Silver Moon BTC - 5 to 50 satoshis every 15 minutes (Faucetpay) Bitcoin Faucet: Extrabtc - 4 satoshis every 0 minutes (Faucetpay) Bitcoin Faucet: Iron Faucet - 0,09 doge every 5 minutes (Faucetpay) What would it take to shut down bitcoin tomorrow??? HashFlare Shuts Down Bitcoin Mining

Please share if you find this article interesting. US State Shuts Down Cryptocurrency Mining Company - Bitcoin News Regulation A U.S. state has issued a cease and desist order to a company purportedly engaged in cryptocurrency mining. This DPW Holdings Shuts Down Crypto Mining Amid BTC Collapse While Bitcoin has been in recovery ever since it’s not nearly what it was, and this has led to notable closures and instability within US SEC shuts down KashMiner. The Kodak KashMiner was first showcased as a computer which mined Bitcoin in January at CES 2018 in Las Vegas. Cryptocurrency mining enthusiasts could lease the KashMiner for a period of 24 months at an initial cost of $3,400. The ponzi scheme guaranteed returns of $375 every month for all miners using its hardware. Cease and Desist Order. The U.S. State of North Carolina issued a cease and desist order to Power Mining Pool (PMP) last week. After some investigation, the state’s Securities Division declared: The Securities Division found that PMP is violating the Securities Act by: a. offering unregistered securities in the form of ‘mining pool shares;’ b. offering securities while it is not A U.S. state has issued a cease and desist order to a company purportedly engaged in cryptocurrency mining. US State Shuts Down Cryptocurrency Mining Company

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Bitcoin Faucet: Silver Moon BTC - 5 to 50 satoshis every 15 minutes (Faucetpay)

In the video, I show you most popular arguments of what it would take to shut down bitcoin and how they can be counter acted. 0:26 - Bitcoin mining becomes unprofitable and miners stop mining. 1 ... In October 2013 the US FBI shut down the Silk Road online black market and seized 144,000 bitcoins worth US$28.5 million at the time. The US is considered bitcoin-friendly compared to other ... In October 2013 the US FBI shut down the Silk Road online black market and seized 144,000 bitcoins worth US$28.5 million at the time. The US is considered bitcoin-friendly compared to other ... In October 2013 the US FBI shut down the Silk Road online black market and seized 144,000 bitcoins worth US$28.5 million at the time. The US is considered bitcoin-friendly compared to other ... In October 2013 the US FBI shut down the Silk Road online black market and seized 144,000 bitcoins worth US$28.5 million at the time. The US is considered bitcoin-friendly compared to other ...

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