TeraExchange Unveils First U.S.-Regulated Bitcoin Swaps

Bitcoin Exchange Tera in Reverse Merger to Get Listing: WSJ

Bitcoin Exchange Tera in Reverse Merger to Get Listing: WSJ submitted by mahrens917 to Bitcoin [link] [comments]

Coinsetter Exchange Has Been Added to Tera Bitcoin Price Index

Coinsetter Exchange Has Been Added to Tera Bitcoin Price Index submitted by coinsetter to Bitcoin [link] [comments]

Tera Exchange announces first Bitcoin derivative

Tera Exchange announces first Bitcoin derivative submitted by Apnean to Bitcoin [link] [comments]

MGT Capital Investments to Merge with Tera Group, Form Bitcoin Exchange

MGT Capital Investments to Merge with Tera Group, Form Bitcoin Exchange submitted by vlarocca to Bitcoin [link] [comments]

Bitcoin Swaps Tera Exchange

Is anyone could explain how this Bitcoin Swaps will work in practice?
submitted by brasilbitcoin to BitcoinMarkets [link] [comments]

Bitcoin Exchange Tera in Reverse Merger to Get Listing: WSJ

Bitcoin Exchange Tera in Reverse Merger to Get Listing: WSJ submitted by moon_drone to BetterBitcoin [link] [comments]

Tera Exchange announces first Bitcoin derivative

Tera Exchange announces first Bitcoin derivative submitted by BTCNews to BTCNews [link] [comments]

Bitcoin Is Here to Stay | nuv mining

The following phase in the Bitcoin revolution will certainly be the standardization of the exchanges where the coins are traded. Bitcoin is presently in bush West miner days of its development. The globe has actually concurred that a Bitcoin provides a saved action of value in the same way that gold and silver have throughout the ages. Like gold and silver, Bitcoin is only worth what the various other person wants to pay you for it. This has actually brought about dishonesty since trading started. Crooked scales and also loaded ore all became part of the standard as both the miners as well as the assayers sought to pad their profits. This brought about governmental oversight and the production of central exchanges.
nuv mining
The Bitcoin dream has actually been to police its own community and also continue to be past the physical scrutiny of any type of international federal government. The Optimistic desire was shattered a month back when Mt. Gox, by far the biggest Bitcoin exchange, closed down because of a protection breach and burglary of about $300 million worth of Bitcoin. Customers that had Bitcoin on deposit with Mt. Gox still do not recognize just how much they'll come back. The issues at Mt. Gox lay bare the cyber safety argument. Remarkably, Bitcoin as a money has revealed amazing resilience. This resilience can quite possibly be just the increase required to legitimize the money and the lean in the direction of governmental involvement that might in fact aid this fledgling store of worth skyrocket to its conventional capacity.
The timing of the Mt. Gox case may show to be an advantage for the currency. Tera Team, out of Top New Jersey, currently had suggested a bilateral contract to the Commodity Trading Futures Compensation (CFTC) to begin trading Bitcoins with a swap-execution facility or, central exchange. The huge majority of industrial currency trading is done via swaps arrangements which is why we comply with the business traders in our own trading. A swap contract is essentially an insurance policy that supplies a guaranteed worth at a details point to secure against money changes. It's what the product exchanges are established on. The swap markets are the superhighways of the economic market. They refine substantial quantities while accumulating a small toll on each transaction. As a result, the price on the individual swap is tiny however the large quantity of swaps refined makes it a significant revenue source for all of the significant financial institutions.
The CFTC has yet to discuss Tera Team's proposal. We commented in November that Bitcoin had transcended novelty status which the revenue swimming pool was becoming too big for international financial institutions to neglect. Bitcoin's durability despite the Mt. Gox debacle is a testament to the power of an international grassroots movement. Bitcoin must have plunged across the globe as owners of Bitcoins tried to exchange them for hard currency. The marketplace's reaction became very organized. While rates did fall across the board, the market appeared to understand that it was a specific firm's issue as well as was as a result constrained to Mt. Gox customers' capability to obtain their cash out. Consequently, Bitcoin costs have actually maintained around $585. This is well off the December high of $1,200 but very near the average price for the last 6 months.
The last together timed item of the structural transformation from Bitcoin as an anarchist, alternative store of value that exists outside the institutionalized monetary market to being integrated right into that very same financial system is its capacity to be taxed by the brick and mortar federal governments it was created to circumvent. The Internal Revenue Service ultimately made a decision adequate suffices and it wants its cut. The Internal Revenue Service has declared Bitcoin as property instead of money and also is for that reason subject to residential or commercial property laws instead of currency regulations. This permits the Internal Revenue Service to get their share while legitimizing the demand for a main exchange to determine value. It additionally gets rid of disagreements with the U.S. Treasury and Congress over lawful tender concerns. It's merely valued as a good that can be exchanged for other products as well as solutions, barter.
submitted by Nuvmining to u/Nuvmining [link] [comments]

The Decade in Blockchain — 2010 to 2020 in Review


February — The first ever cryptocurrency exchange, Bitcoin Market, is established. The first trade takes place a month later.
April — The first public bitcoin trade takes place: 1000BTC traded for $30 at an exchange rate of 0.03USD/1BTC
May — The first real-world bitcoin transaction is undertaken by Laszlo Hanyecz, who paid 10000BTC for two Papa John’s pizzas (Approximately $25 USD)
June — Bitcoin developer Gavin Andreson creates a faucet offering 5 free BTC to the public
July — First notable usage of the word “blockchain” appears on BitcoinTalk forum. Prior to this, it was referred to as ‘Proof-of-Work chain’
July — Bitcoin exchange named Magic The Gathering Online eXchange—also known as Mt. Gox—established
August —Bitcoin protocol bug leads to emergency hard fork
December — Satoshi Nakamoto ceases communication with the world


January — One-quarter of the eventual total of 21M bitcoins have been generated
February — Bitcoin reaches parity for the first time with USD
April — Bitcoin reaches parity with EUR and GBP
June — WikiLeaks begins accepting Bitcoin donations
June — Mt. Gox hacked, resulting in suspension of trading and a precipitous price drop for Bitcoin
August — First Bitcoin Improvement Proposal: BIP Purpose and Guidelines
October — Litecoin released
December — Bitcoin featured as a major plot element in an episode of ‘The Good Wife’ as 9.45 million viewers watch.


May — Bitcoin Magazine, founded by Mihai Alisie and Vitalik Buterin, publishes first issue
July — Government of Estonia begins incorporating blockchain into digital ID efforts
September — Bitcoin Foundation created
October — BitPay reports having over 1,000 merchants accepting bitcoin under its payment processing service
November — First Bitcoin halving to 25 BTC per block


February — Reddit begins accepting bitcoins for Gold memberships
March — Cyprus government bailout levies bank accounts with over $100k. Flight to Bitcoin results in major price spike.
May —Total Bitcoin value surpasses 1 billion USD with 11M Bitcoin in circulation
May — The first cryptocurrency market rally and crash takes place. Prices rise from $13 to $220, and then drop to $70
June — First major cryptocurrency theft. 25,000 BTC is stolen from Bitcoin forum founder
July — Mastercoin becomes the first project to conduct an ICO
August — U.S. Federal Court issues opinion that Bitcoin is a currency or form of money
October — The FBI shuts down dark web marketplace Silk Road, confiscating approximately 26,000 bitcoins
November — Vitalik Buterin releases the Ethereum White Paper: “A Next-Generation Smart Contract and Decentralized Application Platform
December — The first commit to the Ethereum codebase takes place


January — Vitalik Buterin announces Ethereum at the North American Bitcoin Conference in Miami
February — HMRC in the UK classifies Bitcoin as private money
March — Newsweek claims Dorian Nakamoto is Bitcoin creator. He is not
April — Gavin Wood releases the Ethereum Yellow Paper: “Ethereum: A Secure Decentralised Generalised Transaction Ledger
June — Ethereum Foundation established in Zug, Switzerland
June — US Marshals Service auctions off 30,000 Bitcoin confiscated from Silk Road. All are purchased by venture capitalist Tim Draper
July — Ethereum token launch raises 31,591 BTC ($18,439,086) over 42 days
September — TeraExchange launches first U.S. Commodity Futures Trading Commission approved Bitcoin over-the-counter swap
October — ConsenSys is founded by Joe Lubin
December — By year’s end, Paypal, Zynga, u/, Expedia, Newegg, Dell, Dish Network, and Microsoft are all accepting Bitcoin for payments


January — Coinbase opens up the first U.S-based cryptocurrency exchange
February — Stripe initiates bitcoin payment integration for merchants
April — NASDAQ initiates blockchain trial
June — NYDFS releases final version of its BitLicense virtual currency regulations
July — Ethereum’s first live mainnet release—Frontier—launched.
August — Augur, the first token launch on the Ethereum network takes place
September — R3 consortium formed with nine financial institutions, increases to over 40 members within six months
October — Gemini exchange launches, founded by Tyler and Cameron Winklevoss
November — Announcement of first zero knowledge proof, ZK-Snarks
December — Linux Foundation establishes Hyperledger project


January — Zcash announced
February — HyperLedger project announced by Linux Foundation with thirty founding members
March — Second Ethereum mainnet release, Homestead, is rolled out.
April — The DAO (decentralized autonomous organization) launches a 28-day crowdsale. After one month, it raises an Ether value of more than US$150M
May — Chinese Financial Blockchain Shenzhen Consortium launches with 31 members
June — The DAO is attacked with 3.6M of the 11.5M Ether in The DAO redirected to the attacker’s Ethereum account
July — The DAO attack results in a hard fork of the Ethereum Blockchain to recover funds. A minority group rejecting the hard fork continues to use the original blockchain renamed Ethereum Classic
July — Second Bitcoin halving to 12.5BTC per block mined
November — CME Launches Bitcoin Price Index


January — Bitcoin price breaks US$1,000 for the first time in three years
February — Enterprise Ethereum Alliance formed with 30 founding members, over 150 members six months later
March — Multiple applications for Bitcoin ETFs rejected by the SEC
April — Bitcoin is officially recognized as currency by Japan
June — EOS begins its year-long ICO, eventually raising $4 billion
July — Parity hack exposes weaknesses in multisig wallets
August — Bitcoin Cash forks from the Bitcoin Network
October — Ethereum releases Byzantium soft fork network upgrade, part one of Metropolis
September — China bans ICOs
October — Bitcoin price surpasses $5,000 USD for the first time
November — Bitcoin price surpasses $10,000 USD for the first time
December — Ethereum Dapp Cryptokitties goes viral, pushing the Ethereum network to its limits


January — Ethereum price peaks near $1400 USD
March — Google bans all ads pertaining to cryptocurrency
March — Twitter bans all ads pertaining to cryptocurrency
April — 2018 outpaces 2017 with $6.3 billion raised in token launches in the first four months of the year
April — EU government commits $300 million to developing blockchain projects
June — The U.S. Securities and Exchange Commission states that Ether is not a security.
July — Over 100,000 ERC20 tokens created
August — New York Stock Exchange owner announces Bakkt, a federally regulated digital asset exchange
October — Bitcoin’s 10th birthday
November — VC investment in blockchain tech surpasses $1 billion
December — 90% of banks in the US and Europe report exploration of blockchain tech


January — Coinstar machines begin selling cryptocurrency at grocery stores across the US
February — Ethereum’s Constantinople hard fork is released, part two of Metropolis
April — Bitcoin surpasses 400 million total transactions
June — Facebook announces Libra
July — United States senate holds hearings titled ‘Examining Regulatory Frameworks for Digital Currencies and Blockchain”
August — Ethereum developer dominance reaches 4x that of any other blockchain
October — Over 80 million distinct Ethereum addresses have been created
September — Santander bank settles both sides of a $20 million bond on Ethereum
November — Over 3000 Dapps created. Of them, 2700 are built on Ethereum
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Bottos chain CEO Li Xiang: The future of data securitization, everyone is Xiaolai Li

Bottos chain CEO Li Xiang: The future of data securitization, everyone is Xiaolai Li
A few days ago, the IFIC International Financial Technology Innovation Summit, hosted by People’s Daily People’s Digital, Sanya City Bureau of Commerce, FINWEX, and Guoyin Jinkong, was held in Sanya. At the meeting, Bottos Chain CEO Li Xiang made the theme “The Hope of Machine Civilization”. The speech shows the basic positioning of the Bottos chain “the infrastructure that focuses on artificial intelligence, the application platform that serves data, algorithms and computing power”, and outlines the evolutionary framework of machine civilization to replace industrial civilization. During the meeting, Golden Finance interviewed the Bottos chain CEO Li Xiang.

Bottos CEO Li Xiang

Golden Finance: Please introduce the development track of the Bottos chain?

Li Xiang: According to different development periods, we divide the Bottos chain into 1.0, 2.0 and 3.0.
From 2017 to 2019, Bottos Chain 1.0 — positioned as an artificial intelligence infrastructure. Our entire team spent a year and a half developing BottosChain from 0 to 1, and open source at the end of May 2018, and officially handed over the community to decentralization in December of the same year. As a self-originating public chain, the Bottos chain BottosChain has its own independent property rights in many key technologies. At present, we have applied for 3 key technology patents, which are very flexible in the whole architecture design. We reserve the interface for the AI ​​empowering blockchain, and at the same time have great advantages in commercial performance, and do everything possible to lower the threshold. From 2019 to 2021, it will be Bottos Chain 2.0 — positioned in the artificial intelligence industry. Our goal is to help 10,000 smart DApps to land, securing massive amounts of user data assets, and letting data, computing power, algorithms and other production materials Fast exchange, spiraling out higher AI wisdom, allowing the industry to achieve a higher premium. From 2022 to 2025, the Bottos chain 3.0 is positioned as a revolution in the AI ​​back-feeding blockchain. Based on the accumulated industrial data and machine intelligence of the Bottos chain 2.0, the Bottos chain will pass the underlying code to the robot to optimize and rewrite. The ultimate goal of the first public chain of artificial intelligence. I believe that by 2025, humans no longer need to work. The machine is not only fully qualified for labor, but also the underlying code of the blockchain. In the future, the Bottos chain platform will be used to divide the value of machines and people. At that time, human intelligence will be You can explore the stars and explore the bigger unknowns.

Golden Finance: What do you think is the biggest value of the blockchain?

Li Xiang: Rather than saying that the blockchain creates new value, it is better to say that the blockchain will not be released from the statistical stock value. For example, each of us is generating massive amounts of data every day. When these data are securitized by the blockchain, everyone is Xiaolai Li. The digital economics of Bottos chain cognition is the use of blockchain technology to redistribute the productivity of the digital economy through data, algorithms, and computational power. The Bottos chain is positioned to carry the evolution of artificial intelligence using blockchain technology, and we must share Data asset securitization will bring huge value dividends.
In the era of the Internet, data is centralized, and data obtained from users at no cost has created giant companies such as BAT. In the blockchain era, personal data will truly belong to individuals. Due to the popularity of 5G-promoted ubiquitous Internet of Things, the silent data of tera-sensors will be activated to generate new artificial intelligence, between individuals and individuals outside the BAT client. Obtaining the possibility of peer-to-peer direct sharing of data, we do not need to snatch data from Internet packets, but exchange data directly from the bottom of the sensor through the Internet of Everything. The exchange and superposition of data and data has spawned the spiral evolution of algorithms and computational forces, and then returns the generated value to the individuals of the data source. We can see that the platform built by the Bottos chain carries the closed-loop value of data, algorithms and computing power in the machine civilization. Artificial intelligence is one of the few blockchain fields that can construct an all-digital closed loop. Artificial intelligence is also the only way to bypass Taobao WeChat. This is the value chain of the centralized application, which is the original intention of the Bottos chain to locate artificial intelligence. In the field of artificial intelligence, the main source of value of Keda Xunfei and Shangtang Technology is the free data source provided by millions of users. We can imagine that the market value of the two companies will be divided into millions of users, and the per capita capital will be renewed. Assigning the scene, this is the mission of the Bottos chain.

Golden Finance: How do you see the relationship between artificial intelligence and blockchain now?

Li Xiang: Artificial intelligence is productivity, blockchain is production relations, productivity is that I can destroy you, production relationship is that I can’t directly destroy you, but I can offer the best person to destroy. Productivity creates value, and production relations drive productivity, so they are complementary and can be understood as the poles of Tai Chi. So how many blockchains in the future will have a lot of blockchains to help him achieve value, otherwise he can’t live alone because he didn’t make money. Suppose a developer researches an algorithm, including Bitcoin, which is an algorithm that requires a set of value chains to collaborate and a set of cross-organizational value exchange systems to support. Without a value chain and value mitigation, this algorithm cannot be separated. survive. We have restored this form of bitcoin to countless entrepreneurs, technology workers, man-machine warriors, and data providers, so that they can make new money. Intelligent hardware far exceeds the commercial value of traditional hardware. It comes from its semi-soft and semi-hard features. The soft part can not only capture hard information, perform edge calculation, but also self-purify to rewrite the working mode of hardware. We can simply Understood as a line upgrade on Apple phones. But traditional hardware, it is only hard and not soft, his data is wasted, and he can’t self-evolve. So, the combination of soft and hard is a new life state of the new life, which is the basic unit of machine civilization. Everything in the future is soft and hard, it generates data, and the hardware becomes a living body. This kind of living body will evolve from industrial civilization to machine civilization if it evolves from industrial civilization to machine civilization if it evolves into machines that build machines and machines that write programs (we are writing artificial contracts directly with artificial intelligence).

Golden Finance: What difficulties and challenges did Bottos encounter from its inception to the present, and which pits have been crossed?

Li Xiang: From 2017 to 2019, we have experienced some minor storms. In general, it is a challenge all the way, but in the end, it will turn into a growing nectar. The first is the cognitive challenge. We are a revolutionary platform. Therefore, we advocate the spirit of geeks. Only by breaking through the cognition can we change the world. We believe that the artificial intelligence + blockchain can rewrite human civilization. The future is the age of machine civilization. Everyone is worth the money. It can support countless robots. At the same time, everyone is very profitable because he participates in and shares the feast of machine civilization. This is a huge bonus that the Bottos chain hopes to excavate. Secondly, the technical challenge, blockchain + AI is extremely brain-burning, when black technology encounters black technology, if there is no deep understanding of the two industries, there is no great courage and determination, this double track It is very difficult to do it. Finally, there are challenges in the quality of the team. In the process of project development, there will always be a low point. When there are pressures from all sides, there are new people joining the old people on the road, how the core team keeps the initial heart and the front, I think it is the project. The core factor that can ultimately achieve the goal.

Golden Finance: What is the possible type or industry of DAPP in the future Bottos chain?

Li Xiang: Focusing on data and sensor algorithms, there are many application scenarios, such as travel scenarios, smart home scenarios, car networking scenarios, and then there are a large number of scenarios on the mobile side, or reversed according to value, as long as it can correspond to a billion-dollar The centralized enterprise, we all have the possibility to create a mechanism to take back. At present, artificial intelligence has begun to erupt from visual hearing, such as Keda Xunfei and Shangtang Technology, which have begun to gain a lot of application value. The reason is that the standard of the Turing test is to let the machine have the ability to talk with people. This ability comes first from simulating human perception. The meaning of the sensor is to digitally simulate the five senses of people and generate massive data. So now we see that artificial intelligence breaks through from hearing and vision first, because human sensors and radios are the crystallization of human sensors that are close to a hundred years of development, and the sensors of touch, smell and taste need to evolve gradually. . With five senses, we also need to think about thinking. Google’s man-machine war is the application of thinking. With thinking and driving feedback, Google’s Boston Power Robot is the application that drives feedback. Google is a monument to artificial intelligence, its valuation is more than 800 billion US dollars, and countless Keda Xunfei in the world are catching up with speed. It is conceivable that the Bottos chain stands at a dawn moment when a great era is about to open. We not only hope to remind the birth of countless Google, but also hope that these “new Google” will repay the millions of wealth of Xiaolai Li.

If you aren’t already in our group, please join now! https://t.me/bottosofficial
Bottos Website | Twitter |Facebook | Telegram
submitted by BOTTOS_AI to Bottos [link] [comments]

The most useful links I have found over the past few years to track Bitcoin's fundamentals as well as technicals.

= Other Useful Links =
submitted by Oskar_Koch to BitcoinMarkets [link] [comments]

List of Today's and Tomorrow's Upcoming Events

I will be bringing you upcoming events/announcements every day. If you want improvements to this post, please mention houseme in the comments. We will make improvements based on your feedback.
https://kryptocal.com | /kryptocal | Android | iOS | Telegram Interactive Bot (add cryptocalapp_bot) | Telegram Channel @kryptocal


If you like an event to be added, click Submit Event, and we will do the rest.


Digital Asset Summit June 12, 2019
New Whitepaper (V2.0) June 12, 2019
Ark(ARK) Core Update v2.4 June 12, 2019
Walton(WTC) Binance Telegram AMA June 12, 2019
Theta Token(THETA) AMA with CEO June 12, 2019
SingularityNET(AGI) Council Election June 12, 2019
Recruiting Event June 13, 2019
FastTrack Phase 1 June 13, 2019
TeraCoin(TERA) Adviser Program Ends June 13, 2019
Escroco Emerald(ESCE) Freelance & Gigs Platform Beta June 13, 2019
AI Assistant Workshop June 12, 2019
Bitcoin Gold(BTG) UPbit Wallet Upgrade June 12, 2019
POA Network(POA) Burner Wallet Meetup June 12, 2019
DigixDAO(DGD) Singapore Meetup June 12, 2019
Streamr DATAcoin(DATA) SeaWeb Seafood Summit June 12, 2019
IBM Think Keynote June 13, 2019
NEM(XEM) Blockchain 101 June 13, 2019
Stellar(XLM) Listing with FIAT June 13, 2019
submitted by cryptocalbot to kryptocal [link] [comments]

Decentralized applications on TERA platform

Decentralized applications on TERA platform

Implementation of blockchain technologies provided a solution that allows to refuse of use of central servers for storing the database and to entrust them to a distributed registry. For the first time it was implemented through the example of digital currency – Bitcoin. Then enthusiastic programmers, who focused their attention on the opened opportunities, went further. They began to implement their ideas and supply new tools, laying the foundation for the digital system of the future. In such a way, smart contracts and decentralized applications appeared, presented to the user as software products for wide variety of spheres: business, entertainment, communication… Virtual blockchain began to obtain visual outlines.


Leaders in creation DApps

Ethereum became the first blockchain project that allows the creation of smart contracts and DApps.
But programmers faced difficulty - low transaction speed, which was limited to 20 tps. In 2017, EOS and TRON acted as projects that found a solution. They collected millions with the help of ICO and drove by roadmap.
On the one hand, indeed, the shown speed was significantly different and gave the opportunity to develop DApps (TRON - 1200 tps, EOS - 4000 tps). Although Ethereum took the lead in the number of created in its blockchain applications, taking a head start in two years, the competitors who appeared on the market began to drain-away developers to their platforms. For April 2019 EOS ranks the first in the number of unique users (171k) and transaction volume ($ 3 bln), TRON - the second (71k, 600 mln). This is despite the fact that more DApps allocated in Ethereum. The only thing is that transaction rate both TRON and EOS was obtained detriment of decentralization. Both projects work on the PoS consensus algorithm, and this is already a reason not to consider them decentralized. As for Ethereum, its blockchain with each fork also gradually moves towards the final transition to the PoS consensus. While the main developers justify their actions by that the PoW algorithm has already outlived itself and the distributed registry running on such a consensus cannot provide the characteristics, necessary for full-fledged DApps functionality.
That is not so!

Attractive advantage of TERA

In 2018 the TERA Foundation blockchain project was launched, which proved that it is too early to throw PoW into the past, if only because it copes brilliantly with security issues.
The author of TERA Yuri Ivanov by combining the sha3 and secp256k1 encryption algorithms in cryptography achieved excellent results, guaranteeing 1,000 transactions per second. And the architecture features of the TERA blockchain have higher capabilities - 5,000 tps. Moreover, this speed is not the limit, but without a network load test it’s early to talk about other numbers for the moment.
Anyway, we already see that currently provided speed allow the creators of DApps to embody their ideas. Language of smart contracts JavaScript facilitates the challenge. Some developers together with the creator of TERA did not waste time and for a relatively short time period of the platform’s existence placed into its space a number of really decentralized applications, that are now available to all wallet owners.

What DApps are on the TERA platform

So, what is currently available for use to members of the TERA community?

TERA decentralized exchange and a multi-currency wallet
The first decentralized platform for the cryptocurrency exchange is already in operation.
To be honest, for the present is only in one, but the most important direction - TERA / BTC.
Meaning that those who wish to purchase a coin can use the sellers' offers, placed on the platform, without turning to other exchanges where TERA has already passed listing.

Upon that, thanks to the latest update you can create a BTC account that will be bound to the main one. For sure increasing the number of cryptocurrencies for both trade and storage will increase the attractiveness. However, this is just a question of time and monitoring with what time intervals updates are released there is a confidence that it will not take long to wait. Moreover, to the topic of wallets and coins it pays to add that TERA allows you to issue your own tokens.

Services for business
Special attention is given to decentralized applications that help to conduct business activities and other dealings. For example, DApp "Promise" is available. By activating a smart contract the seller fixes his obligations with a bounded frozen account without money. The buyer studies the conditions and if they are suitable for him, he transfers the specified amount. Then goods are forwarded, or services are being provided. When deal is fulfilled, the buyer defrosts the seller’s account with the payment received. In case of refusal, the case is regarded by the escrow - the creator of the smart contract.

There is a DApp "Frozen", where you can freeze funds on your own account until the specified date or until a specific block is generated.
A great way to avoid money wasting and to hodl some coins for a desired period.
Other applications are in the planning stage, that will facilitate business processes conducting on the blockchain directly between the parties, without intermediaries.

Gambling admirers comprise a third of decentralized applications users. Therefore, among the DApps hosted on the TERA blockchain, entertainment from this area began to appear. There are a double bet game, a lottery and a one-armed bandit (slot machine). The slot machine evokes associations with the very first mechanical gambling machine of 1905.
It also has 3 drums and one pay line. But the functionality allows you to win the bonus round with 5 free spins and increased prize payout. Yet truth be told, you should be careful.
Personally, I’ve got the combination giving the jackpot x 200 bets, but as I later noticed the winning did not arrive in the account. Therefore, record the evidence of such things just to be on the safe side.

By the way, after the post about these errors in Discord (https://discordapp.com/invite/CvwrbeG), the reply followed immediately. The reason was that for the convenience of the player the slot does not wait for 8 seconds, which are necessary for the blockchain to confirm the block, but returns results earlier. But if there is a case of a lost block, an error occurs, where diamonds symbols are shown on the drum.
It was reported about the immediate update of the client version with the corrected drawbacks of previous one.

Online shop
The platform operates an online shop with toys on the game Minecraft subject. For TERA coins you can get soft toys, souvenirs and other goods with the next day delivery in Moscow and within 5 days to other cities of the Russian Federation.
But it will be no difficulty for other salesmen to join and offer their product range. Creating an online store does not require much time, cost or special efforts. It will take several minutes between the decision to open the goods sales point on a decentralized TERA platform and fully realized project. It is enough to load feed with an assortment and prices. Moreover, all data is stored on the blockchain, which excludes needs for hosting.

The buyer studies the product and if finds something interesting for himself, makes an order. A clear interface with a full functional basket is available to fulfill the order.
Payment is commission-free. The seller observes the process through the admin panel, which informs him about the state of affairs and reports the change of good statuses during all stages - from the moment of adding to the basket to delivery to the buyer.
The money paid for the goods is reserved on the buffer account at first and only after the buyer receives his order, the seller receive the amount of money to his account.

Other DApps
The first resources for communication appeared on the decentralized platform. This is a forum and dating chat.
Arcade games started to come in, like Floppy Birds. This game already was able to prove that for a poor little bird it’s so difficult to fly, even in the blockchain space!
Especially when the flight takes place in the neighborhood of a virtual industrial town, where there are more pipes than trees, and they grow right before our eyes (in the truest sense of the word!)

Once again, I would like to remark that all this is really decentralized, it works and TERA is waiting for new developers, those who want to distribute and monetize their software products free, and what is more, in the most popular programming language – JavaScript.

What else would be nice to see on TERA

Virtual soil of TERA is just beginning to put out shoots of the first planted digital seeds, and in the blockchain space there is enough space for the flight of imagination when creating DApps. I will give as an example just the first that comes to mind, as well as taken from the statements of members of the TERA community on Discordapp.com.
Thus, would be great to see:
- platform for trading binary options, for a start at least on the same pair of TERA / BTC;
- browser for work with DApps and recommendations for building applications;
- a service for voting on the blockchain would provide transparency into the system of election in any sphere (such a proposal was received at Eurovision-2019, why not create it on TERA);
- author's rights patenting services for works of art, inventions and other intellectual property;
- a full-fledged forum where comments would be saved and could not be deleted (the foundation of such an application has already been laid);
- chess, backgammon, bingo, durak and other classic games;
- more games! Strategies, shooter games, exploration games... Suggest to take a deeper look to the hits of the 80s and 90s. Could be found what to remember and transfer to the decentralized platform TERA;
- fully functional casino with a wide range of entertainment: 3-line and 5-line Slot games, roulette, blackjack, poker, bets and other services of gambling industry;
- and so on and so forth.
If such ideas do not come to developers’ mind, feel free to contact the author of this article and he will share his own in the field of gaming and gambling, and help with their realization with the creative approach!
In the long run, what we need for everyday life? Tools to make money and ways to spend it.
The unique features of TERA blockchain make it possible to place both in it.
Plus they will be independent of any central administration and free of censorship.
To inspire developers for actions, the Chinese TERA community announced a contest with a prize fund of 165,000 coins.

Those who are interested in placing their DApps on TERA will be helped by DApp Paper - https://docs.google.com/document/d/10yXAKxaU7YgrQnbdXu_L7WWovUoRtdJwo3tXXaGZGSQ/edit
And a couple of words to the developers: You can choose TRON platform, you can choose EOS or Ethereum. But what are your priorities? All these systems are in the hands of corporate owners, which leads away from decentralization. And those who want to get away from totalitarian control and give the fruits of their creativity complete freedom should consider the TERA platform.
The TERA Foundation website has a page with a special world map. It shows in real time how many full nodes support the blockchain operation- https://terafoundation.org/map.html. To be among the first means to participate in laying the foundation, that is able to withstand a powerful boost to the rapid development of future technologies. If there is no your city on the map, only a few minutes separates you from correcting it. Instructions for node installation will help to join the TERA community and make your contribution right now.
It can be found here: https://sourceforge.net/p/tera/code/ci/mastetree/README.md

Participation in the expansion of TERA encourages growth and development of the idea of freedom from central administration, which was stated when Bitcoin was launched.
These are not just fantasies or dreams, there are authoritative representatives of science who consider blockchains to be the basis for the economy of future, which will have no boundaries. And with the help of active participants full decentralization will come much faster. This development has no limits, since it is fueled by the independent striving, own free will and potential that is inherent in each of us.
submitted by evkara to u/evkara [link] [comments]

Solving the Blockchain Trilemma-TERA

Solving the Blockchain Trilemma-TERA
Bitcoin and Ethereum are the most widely recognized projects of the blockchain movement, seeking to replace our current trading, financial and economic system with one that is more decentralized and secure. We know that the TPS of Bitcoin is 7 although it’s considered as the most decentralized and security blockchain. Think of last bull run market,the all Bitcoin network got crowded and the transaction pool is full of transactions which led to the high transaction fees. Ethereum improves its scalability but it’s still not enough,still remember the cryptokitties?
EOS adopted the DPOS consensus but there are only 21 masternodes and it can freeze the account on its network. Now its TPS reaches nearly 4,000 and its scalability seems much better than Bitcoin and Ethereum. But nowadays we just think it centralized and some even wonder if it’s real blockchain or no.
Today I’m going to introduce Tera which aims to solve the Blockchain Trilemma. The total supply of Tera is 1 billion and it was issued in July 2018. It’s mineable and now only for CPU+memory mining.

As a hash standard, SHA-3 provides certified security to users’ private key and high-speed encryption based on hard-device, so SHA-3 may be the most suitable for the future capital market. Thus its hashrate is in a higher position than SHA-2.
Although the block size is small(120 kb) but its block time is one second so it can transfer about 70 MB in ten minutes.TERA blockchain is capable of throughput of 1000 transactions per second while retaining all praised blockchain features and bringing huge possibilities for further development and seamless integration with existing infrastructure as well as with new emerging technologies.
Now the devs are developing its website and mobile wallet including IOS and Android. I just created a website wallet to experience the fast transaction of Tera with 1 second block time, 8 seconds for full confirmation of transfer and zero fees. Thanks to the community and foundation, I finally got 100 Tera and it only took seconds to confirm it. According to the whitepaper, nodes organize themselves into an orderly communication mode, with the upper limit of transaction transmission between nodes being 100ms.(while every two nodes in bitcoin usually take several seconds, and more nodes will take more time.)
The hashrate of all network hits more than 6.000 GH/s and it grows nearly 1.5 X than last week. The nodes are now about more than 760, The higher hashrate and the more nodes, the network would be more security!

Currently, Tera is listed on several exchanges including QBTC, Bitalong,Bitmash as well as Citex. There is a built-in exchange on the website but the depth is still a problem.

The community is really active whether in discord or wechat group. Tera is a project driven by community and technical development. I’m really glad to the team get larger and larger.

Vtools is the main developer and now some new members joined the family for website optimization and other development including the UI and deployment. It’s worth mentioning that Tera has developed many DApps, they are original and interesting. Why not have a try.

Now the price of Tera is about 80 satoshis and it’s double of being listed on exchanges. The development of Tera is rapid and stable whether in price and technology.
Original: https://medium.com/@Blockchainize1/solving-the-blockchain-trilemma-tera-fa227870df85.
submitted by Terafoundation to u/Terafoundation [link] [comments]

Best coin for Ark to bridge to: Ethereum, Cardano or EOS ---- Bitcoin, Litecoin, IOTA, or Raiblocks?

Just wondering after learning a few days ago that Bitcoin's mining farms are using 30 TeraWatt per hour, putting it at no. 60 for COUNTRIES!! Next year it could easily reach 60 TeraWatts per hour.
IOTA is free, but for now decentralized and has bogged down. Also for machine-machine mainly. Raiblocks - also based on DAG tech, similar to IOTA, but implemented differently - for now is what Bitcoin is supposed to be: superfast, 100% feeless, and little energy use. Only on crap exchanges though.
I'm assuming that once one Ark bridge is done, bridges to other coins can be finished quicker. But I do increasingly wonder how Bitcoin is ever going to survive. Even if the speed is solved with Lightning, the fees will still be there and I assume the massive energy use will still be there. The media and government will convince people pretty easily to abandon it. Litecoin alone is bound to replace it for that. 10x more efficient and at least 4 times faster.
Similar question with Ethereum... It's ancient crap in cryptoland. The EOS coin itself might be useless for now (and heavily manipulated the past year), with 200,000 transactions per seconds (almost 1,500x higher than ETH and 200 higher than NEO for now) and DAPP development, it's bound to replace Ethereum. And otherwise Cardano, NXT, or the Ark-Lisk combo will.
1) What do you think the ARK coin should move towards FIRST for bridging AFTER the Ethereum and Bitcoin bridges are fully done? And:
2) Does anyone know how fast Ark can bridge to other coins once Encoded Listener (allows for bridging without needing permission, a very unique Ark tech much better than Atomic Swaps) has been fully developed?
submitted by GoingForBroke-1 to ArkEcosystem [link] [comments]


TERA is an open source and collaborative project. It means everyone can view and eventually modify its source code for hehis own needs. And it also means anyone is welcome to integrate its working community. The Tera community works to develop, deploy and maintain Tera nodes and decentralized applications that are part of the TERA Network.
The TERA technology serves the cryptocurrency concepts, trying to design a modern coins and contracts blockchain application : fast block generation, high transaction throughput and user-friendly application. It was officialy launched on 30th of June 2018 on the bitcointalk forum.
[Yuriy Ivanov](mailto:[email protected]) is the founder and core developer of the project. The Tera community is more familiar with the alias « vtools ».


In the aim to make this crypto currency project more friendly to end-users, some interesting innovations have been implemented in regards to the first generation of crpyto currency applications. The bitcoin and its thousands of child or fork, required a good level of IT skills in order to manage all the application chain from its own : from miners and its hardware, through stratum servers, proxies, to blockchain nodes. The Tera project intend to go one step further regarding crypto currency features integration into a single application : once installed, an efficient web application is available on localhost on port 8080. Then, any web browser supporting javascript may be able to access this application and to operate fully the Tera node.



The mining activity consist in calling a mathematical procedure we can’t predict the result before we run it. But we intend to obtain a very specific result, which usually consist in a certain number of 0 as the first chars before any random answer. If we found the nonce (a random object) combined with the transaction data and the coin algorithm that produce such result, we’ll have solve a transaction block and we’ll get a reward for that. Thanks to this work, the transaction listed in the block will be added to the blockchain and anyone will be able to check our work. That’s the concept of ‘proof of work’ allowing anyone to replay the mathematical procedure with the nonce discovered by the node that solved the block and to confirm block inclusion into the blockchain.


The Tera project is young. It will have to face the same problems is facing today the Bitcoin platform :
Any Crypto Currency Project with the goal its money and contracts to be used as any other historical money or service contract has to consider its political and ethical usage. Processes have to be imagined, designed and implemented in order to be able to fight against extortion, corruption and illegal activities threating crypto-currency development.



wallet, accounts, payments, mining, node settings and utilities, blockchain explorer and utilities…


d-app : forum, stock exchange, payment plugins for third party platform, …


Tera is entirely written in Java) over the NodeJS library as functional layer in order to take advantages of a robust and high level library designed to allow large and effective network node management.
The miner part is imported from an external repository and is written in C in order to get the best performances for this module.
Tera is actually officially supported on Linux and Windows.
If you start mining Tera thanks to this article, you can add my account 188131 as advisor to yours. On simple demand I’ll refund you half of the extra coins generated for advisors when you’ll solve blocks (@freddy#8516 on discord).


Mining Tera has one major design constraint : you need one public IP per Tera node or miner. Yet, you can easily mine it on a computer desktop at home. The mining algorithm has been designed in order to be GPU resistant. In order to mine Tera coin you’ll need a multi-core processor (2 minimum) and some RAM, between 1 and 4GB per process that will mine. The mining reward level depends of the « power » used to solve a block (Top Tera Miners).


There is two main cost centers in order to mine a crypto currency :
  1. the cost of the hardware and the energy required to make a huge amount of mathematical operations connected to the blockchain network through the Internet,
  2. the human cost in order to deploy, maintain and keep running miners and blockchain nodes.
As the speculation actually drives the value of crypto currencies, it is not possible to answer if the mining activity is profitable or not. Moreover, hardware, energy and human costs are not the same around the globe. To appreciate if mining a crypto currency is profitable we should take all indirect costs : nature cost (for hardware and energy production), human cost (coins and contracts usage, social rights of blockchain workers).

Original: https://freddy.linuxtribe.frecherche-et-developpement/blockchain-cryptocurrency-mining/tera-crypto-currency-project/
Author: Freddy Frouin, [email protected].
submitted by Terafoundation to u/Terafoundation [link] [comments]

Rumor: Nadex is Opening Futures+Options for LTC.X & Ripple

Nadex Exchange already has Bitcoin Options you can trade, but they are adding option and monthly mini's contracts for BTC.X & option contracts for LTC.X & XRP.X. Nadex currently called up their MM's to structure Minis/Monthlies/Options and TeraBit approved the request. I assume they will release Fall'19 or sooner?
Nadex is a US Exchange regulated the same way as the NYSE and CME for Forex, Tech, and more markets which means they could only pull options/futures to trade these on a CFTC regulated exchange but honestly, limited risk on crypto is pretty much legit, imo.
UPDATE: Looks like $BTC.X Minis Monthlies are Coming Out in June.
submitted by kingofret to Ripple [link] [comments]

ANN - RENESIS - LTME (Long Term Mining Evolution)

ANN - RENESIS - LTME (Long Term Mining Evolution)
LTME ( Long Term Mining Evolution) With ASIC Resistance Promise hav0k, The Renesis Core

Renesis Specifications:

Algorithm: Renesis Ticker: RESS Whitepaper v1: https://github.com/renesisgroup/whitepapeblob/masteRENESIS-paper.pdf Block Time: 2 minutes Block Reward: Variable. Refer to whitepaper for reward structure. Halving: Yes Doubling: Yes Mined Confirmations PoW/PoS : 60 TX Confirmations: 10 Minimum RX confirmations to forward: 1 Total Coin Supply: 350M for Proof of Work PoS Cap: No PoS Stake Reward: 10% per year Pre-mine: Yes ( First 100 Blocks mined on low difficulty with CPUMiner) Bounties Available: Yes - From Premine Rewards Available for Community Developers: Yes, from Premine CPUMiner Available: Yes - Windows binary & source. NVIDIA GPUMiner Available: Yes ( Reward for fair release of GPUMiner is paid! 50,000 RESS ) AMD GPUMiner Available: No ( Reward for fair release of GPUMiner is > 12,000 RESS ) Renesis New Logo Design Competition: Yes ( Reward of 2000 RESS ) Renesis QT Wallet Theming Competition: Yes ( Reward of 5000 RESS ) Renesis V2 Static Website Design Competition: Yes ( Reward of 7000 RESS ) Renesis public Pool addition reward: Yes (10000 RESS) - First 3 Pools. Renesis Node Hosting: Yes ( Reward of 1000 RESS offered for 1 month of hosting ) Translation Bounties: Yes ( Reward of 500 RESS per translation posted ) Social Media Bounties: Yes ( Connect with us on our channels for information ) ICO: No - Bitcoin Talk ANN for everyone to mine starting 101 block Masternodes: Planned MainNet P2P port: 9775 MainNet RPC port: 9774 TestNet P2P port: 19775 TestNet RPC port: 19774
Renesis Development Team : hav0k - 2 developers Group : The Renesis Group ( Visit www.renesis.io for profiles ) - 7 members Web Site: http://www.renesis.io Block Explorers: http://tx.renesis.io - https://protopool.net/exploreRESS Reddit: https://www.reddit.com/Renesis/ Connections: Discord, Telegram, Slack ( Visit www.renesis.io to connect ) Will have web wallet: No - We believe coins should be safe in your wallets not online. Pools: To be announced after announcement. Exchanges: To be announced.


https://cryptopool.party 10000 RESS Reward TX : http://tx.renesis.io/address/RVMNvHD3DFH1CZ9JVijFxiZgKcPLBpteYh
https://protopool.net 10000 RESS Reward TX: http://tx.renesis.io/address/RATQNUpMH7puoByrkBBUWiBVJowno6bGPz
http://www.tera.tn/ 10000 RESS Reward TX: http://tx.renesis.io/address/RFUkDC5dyRQZhH3GkrAhnAUNNQ2tZbTt7w


addnode node1.renesis.io addnode node2.renesis.io addnode node3.renesis.io addnode node4.renesis.io addnode node5.renesis.io ( Node by CryptoHobo. 1K RESS every month . TXID : 1e7a332788bceb23438b783dac172c853804d51443f43a1d68b378447981059f - 22 July 2018 addnode i.crashed.online addnode he.crashed.online addnode it.crashed.online addnode she.crashed.online addnode renesisckko455xx.onion add ( Tor Node )
Terms & Conditions for GPUMiner Releases : Developers must release the mining software + source after brief testing to Renesis Group to claim their reward. The group will immediately upload the GPUMiner with sources on github after mining 2 test blocks and will provide proof to community. If GPUMiner software is released directly to the community then it would fair but there will be no reward for software developers.


At the time of announcement, you can mine solo until pools become available. Download the CPUMiner binary or source from github with a wallet https://github.com/renesisgroup/cpuminer-release. Place the renesis.conf in your wallet data directory and (re) start wallet. Run start.bat file inside CPUMiner bin folder to mine Renesis. You can edit the start.bat file to edit the number of threads for mining. If you wish to mine on a pool then use the poolmine.bat file.
Note: Please be advised that the cpuminer.exe can show up as a virus on Windows just like almost all mining software. You can be assured it is not and is labelled as coin miner, CpuMiner (PUA) or malware. Refer to virustotal report here https://www.virustotal.com/#/file/1c90ca293dc016f0d8663f7bab55b5def8f484c21b3dac3dae6f81d0166cc99e/detection . You can safely verify your Claymore and EWBF CUDA miners at virustotal and they will give similar results. If you feel that it has a virus then please do not mine. Virustotal scan for Windows wallet is : https://www.virustotal.com/#/file/4cc5d6977566fc7e254744626d0783b1fc2d1aab15d72a5137c99ef0e91eee46/detection .For questions related to GPUMiner releases, please ask fellow miners or their respective developers when their releases become available for download.
UPDATE: CCMINER Download : https://github.com/renesisgroup/ccminer-renesis Reward of 50000 RESS paid to user A1 on Discord : http://tx.renesis.io/address/RVmFpemzMtbjhG16bjQTGEWv3sTgRVuzWm
Special thanks to mrM4D for his guidelines on CPUMiner build. Cheers to ocminer, mrM4D and Epsylon3 Greets to: SCRIV, RavenCoin for their game changing innovations and ASIC resistance commitments.


Phase 1
Renesis Release Development - done CPUMiner Development - done Generate the premine - done Announcement - Underway Community Developers - 3 required and backed by funding from premine. Update: 1st Dev joined the dev team GPUMiners for AMD - Awaited and backed by rewards for fair release by developers. Masternodes Solution - TBA by developers and community consensus and backed by rewards from premine. ASIC Survey - Planned Rensis Hash Enhancement - Planned. TBA under phase 2 or after ASIC Survey Renesis Holdings Fund - Planned
Phase 2 - Next
Good things coming here =) Real use case 1 - Planned Real use case 2 - Planned To be announced after completion of Phase 1
Phase 3 - Planned
Online Gaming - Planned
Phase 4 - Planned
To be announced after completion of Phase 3
submitted by dev_hav0k to Renesis [link] [comments]

I heard you like numbers

Some more or less interesting facts about iota
There are 2.779.530.283.277.761 iotas.
Prefix Name Factor
peta PIOTA
tera TIOTA
giga GIOTA
mega* MIOTA 1.000.000
kilo KIOTA 1.000
* this is the common factor that is traded on exchanges
The number of different seeds you cant enter inside your wallet ist 2781. The estimated number of atoms in the known universe is ~1082. Or in a more visual way:
 Seeds: 87.189.642.485.961. Atoms: Every atom can have 8.718.964.248.596. seeds. 
When people saying iota (2.5 billion) can reach the same market cap than bitcoin has today (70 billion) it would mean 1 MIOTA would be worth ~25$. If the number of IOTAs would be the same as bitcoins now (16.5 million) 1 iota would be worth 172$.
submitted by blutsgewalt to Iota [link] [comments]

HaoBTC and ASICMINER, two largest mining farms

HaoBTC and ASICMINER, two largest mining farms
Currently, mining is a process of mining various types of currency, not just bitcoins, on huge production sites.
Earlier, it was possible to obtain cryptocurrency on an ordinary PC, but over time the labor intensity of the process increased, more miners appeared, and due to the complexity of the process and the increase in the scale of production, the equipment was improved and its cost therefore increased.
Mining farms produce computational activities using computer power (in most cases using video cards), the result is new "money".
The majority of those who mined the currency at its very inception have already become millionaires, and even billionaires, because the exchange rate has already reached, and even exceeded the mark of 10,000 dollars. Currently, it's still profitable to organize similar mining farms on home PCs, while they are able to recoup themselves.
Most of the mining farms are located in China (the reason is relatively low energy costs), as well as in Iceland.
The first is a mining farm ASICMINER located in 8 miles from the central district of Hong Kong, in the Kwaichun area. This farm occupies a relatively small area, but produces a huge amount of capacity, thanks to the latest technology. The basis of the farm is the racks, ASIC chips are located on them and produce the capacities that are necessary in the production of crypto currency.
The second large-scale farm is HaoBTC, located in China. This farm is not as equipped as the first, however, it produces a huge number of capacities.
This company announced the launch of Hash-Ex, a new bitcoin-exchange, offering customers to buy and sell a hash rait- part of the mining network of crypto-currencies. The minimum purchase is 1 tera hash, and such an opportunity is available not only to Chinese citizens, but also to all foreign users.
Xun Yue, Vice President of HaoBTC, states that they sold 10 petashash capacities, and the company itself is the only owner of equipment for currency management, in this regard does not depend on any external factors.
"We probably have one of the best farms in the world. Many publications have written about us. We work in the provinces of Sichuan and Xinjiang, we have tens of thousands of Avalon A6, we also use the Antminer S7 and S9, "Xun Yue said.
Initially, it seems that HaoBTC is a set of typical contracts for cloud mining, but the organization itself focuses on the fact that it has cheap electricity and does not charge funds for the use and maintenance of equipment.
According to ForkLog, in winter, a new mining farm was launched in China, its capacity reaches 140,000 kilowatts. One of its founders is Bitmain Technologies. Mining farms are gaining popularity as the currency itself, China in this regard remains the leader due to its relatively inexpensive electricity, without which it would be impossible to produce any crypto currency in the world.
submitted by iTradeBit to u/iTradeBit [link] [comments]

Left their jobs to work in Bitcoin

I was talking to a friend about Execs who had left their jobs to pursue Bitcoin jobs and I really didn't have any good names. I decided to compile a list. Contributions appreciated.
EDIT -- from https://drive.google.com/file/d/0B6xWx7EWH5mmaGFzRjQ1MklOMDA/view thanks /usezcc0nonA
EDIT -- thanks /usebruce_fenton
EDIT thanks /usesnooville
submitted by redpistachios to Bitcoin [link] [comments]

Discer412 asks, "What's wrong with SHA-256 and how will changing the PoW fix the problem?"

There are two (but it's ultimately the same) problems with SHA-256, there are other problems with understanding 51% attacks, and how they work, I'll explain each issue briefly.
First, with 51% attacks and how they work. The MAIN concern with a 51% attack is the "Rewind Attack". This is where someone pays money to rent miners to "Rewind" the Bitcoin blockchain. The current cost to "Rewind" Bitcoin 1 Block is 12.5 BTC x Price (say $6,000) = $75,000. To make this profitable, you must transact, get the goods, and then rewind Bitcoin to get the coins back and have this new chain become accepted. Generally people would use an exchange, as crypto to crypto are the fastest 'exchanged' goods (as opposed to buying a car), and you might need to Rewind 18 blocks (3 hours) in order to clear the exchange without their fraud stuff going off. So the cost to Rewind BTC 18 blocks is currently $1.4 Mil, if you assume "free market", etc, etc. This is why PoW payouts are so high, and people brag about excessive hash power, but I suspect this can be solved by using a Check Point system (already in the code), that simply stops Nodes from accepting blockchains more than 6 blocks "out of sync". Currently Bitcoin is set to refuse blockchains that are 72 blocks (12 hours) out of sync, if I understand the code correctly. That's unnecessarily long, for it's current usage. But that is why people obsess over tons of hash power, but it's not really necessary (IMO). "Rewind Attack" is the primary form of a disruptive, and profitable, 51% attack.
Now, just to note, if one person already owns 51% of the miners (or so), then they can effectively do this anytime they want, but let's ignore that for now.
Problems with SHA-256 :
1) Hacking the SHA-256 algorithm. Long ago, some began hacking the SHA-256 algorithm. Originally, the Satoshi Nakamoto group had 3 basic concepts they were trying to promote 1) (Relative) Equality of Wealth Distribution, 2) Provide a market for advanced personal computing hardware, and 3) Provide a market for advanced power making hardware. Addressing points 2 & 3, SHA-256 is not all purpose personal computing hardware, thus it provides no usefulness to the overall economy, and in fact is a drain of resources which could be better spent. Likewise, the hack was so powerful, that it made competition for power innovation (virtually) obsolete. Sure, huge warehouses, but had Bitcoin functioned as the Satoshi Nakamoto group originally intended, where personal computers were mining Bitcoin, then instead of warehouses attempting to move to power plants, you'd have say millions of homeowners installing water turbines, solar, and other devices in attempts to collect power, as this would become the scarce resource, not the hack.
2) Address point 1, ending the (relative) distribution of wealth equality. While some don't understand this concept concerning Byzantine consensus (including prominent blockchain creators), their is an issue of "at stake" or "skin in the game" that is necessary to maintain Byzantine consensus. If one person risks 99% of their wealth, and another risks 1%, then Byzantine consensus can fail as the person risking 1% is unmotivated to seek the truth. In the classic problem, two generals are risking death. But in Bitcoin, effectively Jihan risks 90% of his wealth, and maybe the collective of everyone else amounts to 10%. Which is to say the Future Bonuses of Bitcoin (which amount to around $20 Billion over the next few years) will go 90% to Jihan and maybe 10% to the rest of the world. This causes the world to become divested in protecting the validity of Bitcoin. You'd be amazed at how more educated, involved, and excited the overall community was when everyone was running an at home miner. Bitcoin was economic freedom. Today, it's Jihan's money pit.
And to clarify, as some do not understand the nature of a monopoly (and are loud, obnoxious, and really stupid), let me go over that for them, as I know those types of people frequent this forum and are not moderated against, if not encouraged.
In a monopoly, you set the price equal to the maximum. There is no "supply demand" really. It's simply, what is the maximum output X product can produce, and that will be my price. So in the case of Jihan Wu and Bitcoin, it's quite simple to calculate X Miner can produce $2,000 of expected wealth over it's life (again, about 1 year, and then it becomes industrial waste, wasted human energy and unnecessary pollution). The cost to produce said miner might be about $500, but this doesn't even matter.
So the selling price of the miner is say, $1,900, with an expected profit of $100 to the buyer, or 5%. Jihan immediately earns $1,400 in profits. This is not because his product is invaluable (in the traditional sense, like the Tesla Electric Motor), but because he created the best hack of the Bitcoin algorithm which effectively pays out in cash. So while Jihan may only mine with 50% of the Bitcoin hash, he receives 90% of the overall profits, as he is profiting $1,500 for each miner he uses himself, and $1,400 for each miner he sells, and the public profits $100 for each miner they purchase.
Now, this all gets complicated when you start to understand how Tera hashing works, production lead times, etc, etc. His profits often escalate well beyond expectation because (as a monopoly) his customers must pay for 1 month of development before a shipment (not sold in stores), he has worn their equipment without compensation (shipping used products), but most importantly he controls the Bitcoin payout.
In the payout calculation, one (may) assume linear growth in hash rate. However, after a Bitmain shipment the hash rate can double, effectively dropping profit expectations in half. And if you follow the Bitcoin hash rate, I think it increased 5x January to February, effectively dropping profit expectations to 20% of original projections. This is more problematic as persons pay 1 month in advance, unable to react to Bitmain swarm of production, as they could in a free market.
Long term, any PoW algo can become monopolized. But for now, Jihan has become an extreme monopolist and has been tolerated for years, with personal profits from Bitcoin exceeding several Billion. That's $$$$ Billions, from exploiting his hack, and state power. Switching PoW is a no brainer, and is what the original Satoshi Nakamoto group would have wanted but perhaps the persons who best understood these concepts is no longer participating in Bitcoin, and the remainders do not care.
But I think a Check Point system is the best approach, and significantly reducing the Bitcoin Bonus, down from 12.5 BTC per block to 0.05 BTC per Block. Doing this solves multiple issues simultaneously, 1) Makes it more valuable (scarce), 2) Reduces Monopolist Extortion (under any PoW system), and 3) Makes the Bonus equal to expected Transaction Fees, significantly reducing the effectiveness of "transaction spam attacks".
But all good things come to those who wait.
submitted by kybarnet to Bitcoin [link] [comments]

How to buy bitcoin and cryptocurrency using exchange?';';';;[;? Bitcoin and Cryptocurrency Exchange Software How to buy bitcoin and cryptocurrency using exchange??';;'.;.[? Gemini Exchange Cameron and Tyler Winklevoss: Blockchain ... News: PR: Terra and Mining Token Luna Listed on KuCoin ...

Tera App is a new cryptocurrency trading bot that has appeared on our radar recently. The company promises its clients access to a software that will make them rich. If you have your doubts about the legitimacy of this company, read this article and you will know more about it. The industry´s first and only multi asset class Swap Execution Facility across interest rate, foreign exchange and cryptocurrency contracts. Swap Execution Facility The TeraExchange SEF provides market participants with a unique opportunity to trade a range of OTC derivatives using an array of fully compliant execution models. Tera offers bitcoin non-deliverable forward trading to qualified Eligible Contract Participants (ECP) allowing participants to hedge an existing bitcoin position or take a synthetic position. Their inaugural Bitcoin trade with digitalBTC took place on the 9th October 2014, and is noted to be the first Bitcoin derivative transaction to be executed on a regulated exchange. TERA price today is $0.00254873 with a 24-hour trading volume of $897,223. TERA price is down -3.9% in the last 24 hours. It has a circulating supply of 640 Million coins and a max supply of 1 Billion coins.

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How to buy bitcoin and cryptocurrency using exchange?';';';;[;?

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