List of Crypto Mining Algorithms – BitcoinWiki

I literally have tens of thousands of dollars in top-shelf hardware, looking to repurpose some before selling on eBay to build a NAS system, possibly a dedicated firewall device as well. o_O

Q1) What will you be doing with this PC? Be as specific as possible, and include specific games or programs you will be using.**

A1) This will be a dedicated NAS system for my home network. As such, I'm looking to have it:

- Host ##TB's of 720, 1080 & up resolution Movies and TV Shows I'm about to begin ripping from a MASSIVE DVD & Blueray collection I have.

- My kids are big on Minecraft. I understand it's possible to host your own "worlds" (or whatever they call the maps you can build) on your own "server". I think it would be pretty neat to offer them (& their friends - if can be done 'safely/securely') their own partition on one of my NAS HDD's.

- I also have accounts with a couple diff VPN companies... I understand it's possible (?) to sync said VPN's with a NAS, this might be a more relative topic on the next point/purpose...

- I'd like to be able to remotely link to this NAS for when I travel overseas and want to stream at my temp location from my house/this NAS.
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Q2) What is your maximum budget before rebates/shipping/taxes?**

* A2) Here's where I make matters more complicated than most others would... I've been an advocate for Bitcoin and crypto-currencies in general since 2013. I invested in a small mining outfit back in 2014 (strictly Bitcoin/ASIC's). One of my buddies is the President of a large-scale mining operation (foreign and domestic) and he convinced me to dabble in the GPU mining-space. I made my first hardware purchase in Q4, 2017 and launched a small-scale GPU-Farm in my house since then. I had the rigs mining up until Q3 of 2018 (not cost-efficient to keep on, especially living in SoFlo) and since then, the hardware's been collecting dust (& pissing off my family members since they lost access to 3X rooms in the house - I won't let anyone go near my gear). One of my New Years Resolutions for 2019 was to clear out the house of all my mining equipment so that's all about to go up on eBay. So "budget" is relative to whatever I "MUST" spend if I can't repurpose any of the parts I already have on hand for this build... (Anyone having something I "need" and is looking to barter for one of the items I'll list later on in here, LMK).
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Q3) When do you plan on building/buying the PC? Note: beyond a week or two from today means any build you receive will be out of date when you want to buy.**

A3) IMMEDIATELY! :)
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Q4) What, exactly, do you need included in the budget? (ToweOS/monitokeyboard/mouse/etc\)**

A4) Well I had a half-assed idea approximately 1 year ago that it might be wise to build a bunch of 'gaming rigs' to sell on eBay with my intended repurposed mining hardware so I went on a shopping spree for like 6 months. That said; I've got a plethora of various other components that aren't even unboxed yet. 90% of the items I've purchased for this additional project were items that were marked down via MIR (mail-in-rebates) & what-not...
AFAIK, there are only 3X items I absolutely do not have which I 'MUST' find. Those would be - 1) Motherboard which accepts "ECC RAM". 2) CPU for said MOBO. 3) Said "ECC RAM".\* 
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Q5) Which country (and state/province) will you be purchasing the parts in? If you're in US, do you have access to a Microcenter location?**

A5) I'm located in Southwest Florida. No Microcenter's here. Best Buy is pretty much my only option although I am a member of Newegg, Amazon & Costco if that makes any difference?
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Q6) If reusing any parts (including monitor(s)/keyboard/mouse/etc), what parts will you be reusing? Brands and models are appreciated.**

A6) In an attempt to better clean up this Q&A, I'm going to list the items I have on-hand at the end of this questionnaire in-case passers-by feel like this might be a TLDR.* (Scroll to the bottom & you'll see what I mean).
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Q7) Will you be overclocking? If yes, are you interested in overclocking right away, or down the line? CPU and/or GPU?**

A7) I don't think that's necessary for my intended purpose although - I'm not against it if that helps & FWIW, I'm pretty skilled @ this task already (it's not rocket science).
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Q8) Are there any specific features or items you want/need in the build? (ex: SSD, large amount of storage or a RAID setup, CUDA or OpenCL support, etc)**

A8) As stated in A4; ECC RAM is non-negotiable... RAID seems like a logical application here as well.

- This will predominantly be receiving commands from MacOS computers. I don't think that matters really but figured it couldn't hurt to let you guys know.\*

- I'd also be quite fond of implementing "PFSENSE" (or something of that caliber) applied to this system so I could give my Netgear Nighthawks less stress in that arena, plus my limited understanding of PFSENSE is that it's ability to act as a firewall runs circles around anything that comes with consumer-grade Wi-Fi routers (like my Nighthawks). Just the same, I'm open to building a second rig just for the firewall.\*

- Another desirable feature would be that it draws as little electricity from the wall as possible. (I'm EXTREMELY skilled in this arena. I have "Kill-A-Watts" to test/gauge on, as well as an intimate understanding of the differences between Silver, Gold, Platinum and Titanium rated PSU's. As well as having already measured each of the PSU's I have on-hand and taken note of the 'target TDP draw' ("Peak Power Efficiency Draw") each one offers when primed with X amount of GPU's when I used them for their original purpose.\*

- Last, but not least, sound (as in noise created from the rig). I'd like to prop this device up on my entertainment center in the living room. I've (almost) all of the top-shelf consumer grade products one could dream of regarding fans and other thermal-related artifacts.

- Almost forgot; this will be hosting to devices on the KODI platform (unless you guys have better alternative suggestions?)
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Q9) Do you have any specific case preferences (Size like ITX/microATX/mid-towefull-tower, styles, colors, window or not, LED lighting, etc), or a particular color theme preference for the components?**

A9) Definitely! Desired theme would be WHITE. If that doesn't work for whatever reason, black or gray would suffice. Regarding "Case Size". Nah, that's not too important although I don't foresee a mini-ITX build making sense if I'm going to be cramming double digit amounts of TB in the system, Internal HDD's sounds better than a bunch of externals plugged in all the USB ports.
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Q10) Do you need a copy of Windows included in the budget? If you do need one included, do you have a preference?**

A10) I don't know. If I do need a copy of Windows, I don't have one so that's something I'll have to consider I guess. I doubt that's a necessity though.
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**Extra info or particulars:*\*

AND NOW TO THE FUN-STUFF... Here's a list of everything (PARTS PARTS PARTS) I have on-hand and ready to deploy into the wild &/or negotiate a trade/barter with:

CASES -
Corsair Carbide Series Air 540 Arctic White (Model# Crypto-Currency-9011048-WW) - (Probably my top pick for this build).
Cooler Master HAF XB EVO (This is probably my top 1st or 2nd pick for this build, the thing is a monster!).
Cooler Master Elite 130 - Mini ITX - Black
Cooler Master MasterBox 5 MID-Tower - Black & White
Raidmax Sigma-TWS - ATX - White
MasterBox Lite 5 - ATX - Black w/ diff. Colored accent attachments (included with purchase)
NZXT S340 Elite Matte White Steel/Tempered Glass Edition
EVGA DG-76 Alpine White - Mid Tower w/ window
EVGA DG-73 Black - Mid Tower w/ window (I have like 3 of these)

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CPU's -
***7TH GEN OR BELOW INTEL's ("Code Name Class mentioned next to each one)**\*
Pentium G4400 (Skylake @54W TDP) - Intel ARK states is "ECC CAPABLE"
Celeron G3930 (Kaby Lake @ 51W TDP) - Intel ARK states is "ECC CAPABLE" :)
i5 6402P (Skylake @65W TDP) - Intel ARK states is "NOT ECC CAPABLE" :(
i5 6600k (Skylake @ 91W TDP) - Intel ARK states is "NOT ECC CAPABLE" :(
i7 6700 (Skylake @ 65W TDP) - Intel ARK states is "NOT ECC CAPABLE" :(
i7 7700k (Kaby Lake @ 95W TDP) - Intel ARK states is "NOT ECC CAPABLE" :(


***8TH GEN INTEL's **\*
i3-8350K (Coffee Lake @91W TDP) - Intel ARK states is "ECC FRIENDLY" :)
I5-8600K (Coffee Lake @95W TDP) - Intel ARK states is "NOT ECC CAPABLE" :(


***AMD RYZEN's **\*
Ryzen 3 2200G
Ryzen 5 1600
Ryzen 7 1700X

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MOTHERBOARDS -

***7TH GEN AND BELOW INTEL BASED MOBO'S - **\*
MSI Z170A-SLI
ASUS PRIME Z270-A
ASUS PRIME Z270-P
ASUS PRIME Z270-K
EVGA Z270 Stinger
GIGABYTE GA-Z270XP-SLI
MSI B150M ARCTIC
MSI B250M MICRO ATX (PRO OPT. BOOST EDITION)

***8TH GEN INTEL BASED MOBO'S - **\*
EVGA Z370 FTW
GIGABYTE Z370XP SLI (Rev. 1.0)
MSI Z370 SLI PLUS


***AMD RYZEN BASED MOBO'S - **\*
ASUS ROG STRIX B350-F GAMING
MSI B350 TOMAHAWK
MSI X370 GAMING PRO
ASROCK AB350M PRO4
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RAM -

Way too many to list, nothing but 4 & 8GB DDR4 sticks and unfortunately, none are ECC so it's not even worth mentioning/listing these unless someone reading this is willing to barter. At which time I'd be obliged to send an itemized list or see if I have what they're/you're specifically looking for.\*
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THERMAL APPLICATIONS/FANS -
JUST FANS -
BeQuiet -
Pure Wings 2 (80mm)
Pure Wings 2 (120mm)
Pure Wings 2 (140mm)
Silent Wings 3 PWM (120mm)

NOCTUA -
PoopBrown - NF-A20 PWM (200mm) Specifically for the BIG "CoolerMaster HAF XB EVO" Case
GREY - NF-P12 Redux - 1700RPM (120mm) PWM
Corsair -
Air Series AF120LED (120mm)

CPU COOLING SYSTEMS -
NOCTUA -
NT-HH 1.4ml Thermal Compound
NH-D15 6 Heatpipe system (this thing is the tits)

EVGA (Extremely crappy coding in the software here, I'm like 99.99% these will be problematic if I were to try and use in any OS outside of Windows, because they barely ever work in the intended Windows as it is).
CLC 240 (240mm Water-cooled system
CRYORIG -
Cryorig C7 Cu (Low-Profile Copper Edition*)

A few other oversized CPU cooling systems I forget off the top of my head but a CPU cooler is a CPU cooler after comparing to the previous 3 models I mentioned.
I almost exclusively am using these amazing "Innovation Cooling Graphite Thermal Pads" as an alternative to thermal paste for my CPU's. They're not cheap but they literally last forever.

NZXT - Sentry Mesh Fan Controller
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POWER SUPPLIES (PSU's) -
BeQuiet 550W Straight Power 11 (GOLD)

EVGA -
750P2 (750W, Platinum)
850P2 (850W, Platinum)
750T2 (750W, TITANIUM - yeah baby, yeah)

ROSEWILL -
Quark 750W Platinum
Quark 650W Platinum

SEASONIC -
Focus 750W Platinum
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STORAGE -
HGST Ultrastar 3TB - 64mb Cache - 7200RPM Sata III (3.5)
4X Samsung 860 EVO 500GB SSD's
2X Team Group L5 LITE 3D 2.5" SSD's 480GB
2X WD 10TB Essential EXT (I'm cool with shucking)
+ 6X various other external HDD's (from 4-8TB) - (Seagate, WD & G-Drives)
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Other accessories worth mentioning -
PCI-E to 4X USB hub-adapter (I have a dozen or so of these - might not be sufficient enough &/or needed but again, 'worth mentioning' in case I somehow ever run out of SATA & USB ports and have extra external USB HDD's. Although, I'm sure there would be better suited components if I get to that point that probably won't cost all that much).
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Needless to say, I have at least 1X of everything mentioned above. In most all cases, I have multiples of these items but obviously won't be needing 2X CPU's, Cases, etc...

Naturally, I have GPU's. Specifically;

At least 1X of every. Single. NVIDIA GTX 1070 TI (Yes, I have every variation of the 1070 ti made by MSI, EVGA and Zotac. The only brand I don't have is the Gigabyte line. My partners have terrible experience with those so I didn't even bother. I'm clearly not going to be needing a GPU for this build but again, I'm cool with discussing the idea of a barter if anyone reading this is in the market for one.

I also have some GTX 1080 TI's but those are already spoken for, sorry.

It's my understanding that select CPU's I have on this list are ECC Friendly and AFAIK, only 1 of my MOBO's claims to be ECC Friendly (The ASROCK AB350M PRO4), but for the life of me, I can't find any corresponding forums that confirm this and/or direct me to a listing where I can buy compatible RAM. Just the same, if I go w/ the ASROCK MOBO, that means I'd be using one of the Ryzens. Those are DEF. power hungry little buggers. Not a deal-breaker, just hoping to find something a little more conservative in terms of TDP.


In closing, I don't really need someone to hold my hand with the build part as much as figuring out which motherboard, CPU and RAM to get. Then I'm DEFINITELY going to need some guidance on what OS is best for my desired purpose. If building 2X Rigs makes sense, I'm totally open to that as well...
Rig 1 = EPIC NAS SYSTEM
Rig 2 = EPIC PFSENSE (or the like) DEDICATED FIREWALL

Oh, I almost forgot... The current routers I'm using are...
1X Netgear Nighthawk 6900P (Modem + Router)
1X Netgear Nighthawk X6S (AC 4000 I believe - Router dedicated towards my personal devices - no IoT &/or Guests allowed on this one)
1X TP-Link Archer C5 (Router). Total overkill after implementing the Nighthawks but this old beast somehow has the best range, plus it has 2X USB ports so for now, it's dedicated towards my IoT devices.
---- I also have a few other Wi-Fi routers (Apple Airport Extreme & some inferior Netgear's but I can only allocate so many WiFi Routers to so many WiFi channels w/out pissing off my neighbors) On that note, I have managed to convince my neighbors to let me in their house/WiFi configuration so we all have our hardware locked on specific, non-competing frequencies/channels so everyone's happy. :)


Please spare me the insults as I insulted myself throughout this entire venture. Part of why I did this was because when I was a kid, I used to fantasize about building a 'DREAM PC' but could never afford such. To compensate for this deficiency, I would actually print out the latest and greatest hardware components on a word document, print the lists up & tape to wall (for motivation). I was C++ certified at the age of 14 and built my first PC when I was 7. At the age of 15 I abandoned all hope in the sector and moved on to other aspirations. This entire ordeal was largely based off me finally fulfilling a childhood fantasy. On that note = mission accomplished. Now if I'm actually able to fulfill my desires on this post, I'm definitely going to feel less shitty about blowing so much money on all this stuff over the last couple years.

TIA for assisting in any way possible. Gotta love the internets!


THE END.
:)

EDIT/UPDATE (5 hours after OP) - My inbox is being inundated with various people asking for prices and other reasonable questions about my hardware being up for sale. Not to be redundant but rather to expound on my previous remarks about 'being interested in a bartetrade' with any of you here...

I did say I was going to sell my gear on eBay in the near future, I also said I wanted to trade/barter for anything relative to helping me accomplish my OP's mission(s). I'm not desperate for the $$$ but I'm also not one of those people that likes to rip other people off. That said; I value my time and money invested in this hardware and I'm only willing to unload it all once I've established I have ZERO need for any of it here in my home first. Hence my writing this lengthy thread in an attempt to repurpose at least a grand or two I've already spent.

One of the most commonly asked questions I anticipate receiving from interested bodies is going to be "How hard were you on your hardware?" Contrary to what anyone else would have probably done in my scenario which is say they were light on it whether they were or weren't, I documented my handling of the hardware, and have no problem sharing such documentation with verified, interested buyers (WHEN THE TIME COMES) to offer you guys peace of mind.

I have photo's and video's of the venture from A-Z. I am also obliged to provide (redacted) electricity bill statements where you can correlate my photo's (power draw on each rig), and also accurately deduct the excess power my house consumed with our other household appliances. Even taking into consideration how much (more) I spent in electricity from keeping my house at a constant, cool 70-72F year-round (via my Nest thermostat). Even without the rigs, I keep my AC @ 70 when I'm home and for the last 1.5-2 years, I just so happened to spend 85% of my time here at my house. When I would travel, I'd keep it at 72 for my wife & kids.
Additionally; I had each GPU 'custom' oveunderclocke'd (MSI Afterburner for all GPU's but the EVGA's).*
I doubt everyone reading this is aware so this is for those that don't.... EVGA had the brilliant idea of implementing what they call "ICX technology" in their latest NVIDIA GTX GPU's. The short(est) explanation of this "feature" goes as follows:

EVGA GPU's w/ "ICX 9 & above" have EXTRA HEAT/THERMAL SENSORS. Unlike every other GTX 1070 ti on the market, the one's with this feature actually have each of 2/2 on-board fans connected to individual thermal sensors. Which means - if you were to use the MSI Afterburner program on one of these EVGA's and create a custom fan curve for it, you'd only be able to get 1/2 of the fans to function the way intended. The other fan simply would not engage as the MSI Afterburner software wasn't designed/coded to recognize/ communicate with an added sensor (let alone sensor'S). This, in-turn, would likely result in whoever's using it the unintended way having a GPU defect on them within the first few months I'd imagine... Perhaps if they had the TDP power settings dumbed down as much as I did (60-63%), they might get a year or two out of it since it wouldn't run as near as hot, but I doubt any longer than that since cutting off 50% of the cooling system on one of these can't be ignored too long, surely capacitors would start to blow and who knows what else...
(Warning = RANT) Another interesting side-note about the EVGA's and their "Precision-X" OveUnderclocking software is that it's designed to only recognize 4X GPU's on a single system. For miners, that's just not cool. My favorite builds had 8X and for the motherboards that weren't capable of maintaining stable sessions on 8, I set up with 6X. Only my EVGA Rigs had 3 or 4X GPU's dedicated to a single motherboard. Furthermore, and as stated in an earlier paragraph, (& this is just my opinion) = EVGA SOFTWARE SUCKS! Precision X wasn't friendly with every motherboard/CPU I threw at it and their extension software for the CLC Close-Loop-Cooling/ CPU water-coolers simply didn't work on anything, even integrating into their own Precision-X software. The amount of time it took me to finally find compatible matches with that stuff was beyond maddening. (END RANT).
Which leads me to my other comments on the matter. That's what I had every single 1070 ti set at for TDP = 60-63%. Dropping the power load that much allowed me to bring down (on average) each 1070 ti to a constant 110-115W (mind you, this is only possible w/ "Titanium" rated PSU's, Platinum comes pretty damn close to the Titanium though) while mining Ethereum and was still able to maintain a bottom of 30 MH/s and a ceiling of 32 MH/s. Increasing the TDP to 80, 90, 100% or more only increased my hashrates (yields) negligibly, like 35-36 MH/s TOPS, which also meant each one was not only pulling 160-180W+ (Vs. the aforementioned 115'ish range), it also meant my rigs were creating a significantly greater amount of heat! Fortunately for the GPU's and my own personal habits, I live in South Florida where it's hot as balls typically, last winter was nothing like this one. Increasing my yields by 10-15% didn't justify increasing the heat production in my house by >30%, nor the added electricity costs from subjecting my AC handlers to that much of an extra work-load. For anyone reading this that doesn't know/understand what I'm talking about - after spending no less than 2-3 hours with each. and. every. one. I didn't play with the settings on just one and universally apply the settings to the rest. I found the 'prime' settings and documented them with a label-maker and notepad. Here's the math in a more transparent manner:

*** I NEVER LET MY GPU's BREACH 61C, EVER. Only my 8X GPU rigs saw 60-61 & it was the ones I had in the center of the build (naturally). I have REALLY high power fans (used on BTC ASIC MINERS) that were sucking air from those GPU's which was the only way I was able to obtain such stellar results while mining with them. **\*
Mining at "acceptable" heat temps (not acceptable to me, but most of the internet would disagree = 70C) and overclocking accordingly brings in X amount of yields per unit. =
'Tweaking' (underclocking) the GPU's to my parameters reduced my yield per unit from -10-15%, but it SAVED me well over 30-35% in direct electricity consumption, and an unknown amount of passive electricity consumption via creating approximately 20%+ less heat for my AC handler to combat.

I say all this extra stuff not just for anyone interested in mining with their GPU's, but really to answer (in-depth) the apparent questions you people are asking me in PM's. Something else that should help justify my claims of being so conservative should be the fact I only have/used "Platinum and Titanium" rated PSU's. Heat production, power efficiency and longevity of the hardware were ALWAYS my top priority.* . I truly thought Crypto would continue to gain and/or recover and bounce back faster than it did. If this project had maintained positive income for 12 months+, I'd have expanded one of our sites to also cater to GPU mining on a gnarly scale.

Once I have my NAS (& possibly 2nd rig for the firewall) successfully built, I'll be willing/able to entertain selling you guys some/all of the remaining hardware prior to launching on eBay. If there's something you're specifically looking for that I listed having, feel free to PM me with that/those specific item(s). Don't count on an immediate response but what you can count on is me honoring my word in offering whoever asks first right of refusal when the time comes for me to sell this stuff. Fortunately for me, PM's are time-stamped so that's how I'll gauge everyone's place in line. I hope this extra edit answers most of the questions you guys wanted to have answered and if not, sorry I guess. I'll do my best to bring light to anything I've missed out on after I realize whatever that error was/is. The only way anyone is getting first dibs on my hardware otherwise is if they either offer compelling insight into my original questions, or have something I need to trade w/.

THE END (Round#2)


submitted by Im-Ne-wHere to buildapcforme [link] [comments]

r/Bitcoin recap - July 2019

Hi Bitcoiners!
I’m back with the 31st monthly Bitcoin news recap.
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
You can see recaps of the previous months on Bitcoinsnippets.com
A recap of Bitcoin in July 2019
Adoption
Development
Security
Mining
Business
Education
Regulation & Politics
Archeology (Financial Incumbents)
Price & Trading
Fun & Other
submitted by SamWouters to Bitcoin [link] [comments]

Could porn pave the way for cryptocurrency adoption by merchants?

Hey guys, I’ve been a webmaster since I graduated college (Clemson, go Tigers!) in 2003. Some of my portfolio includes adult webcam projects. I could use your help with an upvote on this topic if you wouldn’t mind. My goal is to show the adult webmasters the massive size of the crypto community. We just implemented new cryptos on our platform and I want to urge other webmasters to do the same. Once this gets some legs, I plan on posting it to some adult webmaster news resources such as XBiz and AVN. It would be huge if we got this on the first page of Reddit to show them the demand. I’m not sure if you’re up on your internet history, but if you watched the movie Middle Men, you would know that Porn paved the way for online billing back in the late 90s. So maybe, just maybe, this could be substantial for merchant adoption.
Without further ado, here’s the letter I plan on publishing…
Dear Fellow Adult Webmasters,
Rather than submit a press release about adding multiple cryptocurrencies to our payment options on camwithher.com, I wanted to reach out to my fellow webmasters and urge you to do the same. The adult industry paved the way for online credit card processing in the late 1990s. Perhaps it can also pave the way for cryptocurrency payments online.
We were the first cam site (and perhaps adult site in general?) to offer Bitcoin deposits (https://bitcointalk.org/index.php?topic=138248.0) in January of 2013. Then unknown cryptocurrency advocates (now major influencers), Erik Voorhees (Shapeshift.io) and Tony Gallippi (Bitpay.com), convinced me to integrate Bitcoin into one of our more unkown cam sites as a test. At first, I was skeptical of digital money, transferring it 100% into fiat, however, I quickly changed my tune. Soon thereafter I integrated Bitcoin into our other sites and adjusted our settlement from 100% fiat to 100% Bitcoin. I got a fever, and the only prescription was more crypto. I was hooked. I started becoming a huge crypto advocate myself. I spoke at Bitpay’s Internext seminar. I went on to build my first mining rig. I invested in alt coins. It became a whole “thing”. HODLing became life.
Fast forward to today, cryptocurrency has come a long way, getting integrated more and more into everyday life and featured in major news headlines. However, there’s still a long road ahead in mass adoption, and this is where I think we can significantly make an impact. A vast majority of merchants don’t accept cryptocurrency and there’s absolutely no reason not to. Let me explain…
Do you like low merchant fees? Well you’re not going to get any lower than .5%. What other processor (especially in adult) will give you that? CoinPayments.net will and they’ll throw in a Paypal option at no charge. Some adult processors are taking 15% or higher.
Do you like getting chargebacks? Of course you don’t, and you won’t have to with cryptocurrency. There are no chargebacks. Yeah, none, zip, zilch, nyet, you get the picture.
Not a huge fan of crypto? No problem, get everything settled in fiat at no charge. If you’re anything like me, that will change.
What’s in it for me you ask? Sure, I own crypto and it would be nice to see it go up in value, but that isn’t why I’m writing this. Sure, my cam site is featured in this letter so you may be thinking I want the traffic. Traffic is nice, don’t get me wrong, but I sincerely want to see crypto get to the next level. I believe in the vision and want to see it succeed.
You have nothing to lose! So you only have to ask yourself one question. When Lambo? You’ll understand that once you dive in ;)
All the best,
Steve
President
SNR Productions, Inc.
Disclaimer: I kept most links out of this letter that I plan on putting in the news articles. I just wanted to follow the rules of this sub and didn't want this to appear as spam, so I left them out.
PS. I'm extremely excited to be the first cam site to offer BTC, LTC, BCH, DASH, DOGE, ETC, ETH, LSK, NEO, QTUM, STEEM, XMR, ZEC, and XRP payments!
edit: Wow ranked #3 on cryptocurrency! Thanks everyone! This is going to def turn some heads.
submitted by snrpro to CryptoCurrency [link] [comments]

Bitcoin enthuthiast has a meltdown after meme accuses him of being a pedophile and of cheating others out of what would be their money. (apparently unironic)

How it actually happened:
This is Ann. Ann started her career at 16 when she blew the manager (a creepy pervert who forced her into it, she #MeToos to this day) at the local grocery store so she could immediately get a position as a cashier instead of having to start off in the storeroom stacking boxes "like some Chinese slave worker". Ann, who believed in "treating" herself for her hard work, did not save any of the money she earned, instead spending it on expensive clothing, fast food, movie tickets, smartphones, and nights out with "the girls" (as she never paid while on an actual date). Her parents took care of the bills anyway, so who cares? It's okay though, because Ann was able to get financial aid from the government to attend the university of her dreams and study sociology, because "I'm, like, just so interested in how society works and how white men oppress women and are so racist and stuff, you know?" It only put her $100K in debt too. "You can't put a price on the college experience," thought Ann. Ann did no research on what degrees were in high demand before deciding on her major and sadly, "due to the patriarchy undervaluing the so-called 'soft' sciences" Ann repeated (as her women's studies professor had told her), her sociology degree did not open up as many doors for her as she'd hoped. Luckily, however, one of Ann's old beta orbiters became the CEO of a new tech startup and, after finally hooking up with him a few times (her little secret from her then boyfriends Tyrone and Jamal), she was able to snag a position as their chief diversity counselor. "Good thing that fat black bitch who tried to steal MY job was too full of fried chicken and gravy for any man to want to fuck her," she tipsily joked about the only other applicant (always forgetting to squelch her offensive quips when drunk), eliciting howling guffaws of approval from the pack of thonged, dyed-hair hyenas that surrounded her at the local bar in celebration of her new job. "Bartender, get us another round of appletinis!" Ann boomed. Cheers abounded. Life was good, Ann's salary was high, and her mortgage for an $800K home in the Bay Area was approved. Unfortunately, it was eventually revealed that her company's "enterprise cloud blockchain solutions" were actually vaporware. It lost its VC funding and was forced to shut down. Poor Ann had to leave her dream home, accept a lower paid HR assistant position at a boring non-tech company ("They make plastic water filters or something. I don't even know."), and move into a mere 3 bedroom apartment. "We're told to save," wrote Ann on a piece of paper that she posed with in an image posted to her Instagram, "but Oreos and Netflix are the only comforts poor people like us have. Don't we deserve nice things too? I AM the 99%!" Ann's looks are already starting to fade due to ravages of a rough Haagen-Dazs by day/party slut by night lifestyle, and, though she'd never admit it to herself, she can tell that her "feminine charms" aren't as effective at creating opportunities for her as they used to be. Things have started to sag that never sagged before and even a Sephora warehouse couldn't get rid of the bags under her eyes. Strolling down the sidewalk, she takes a sip of her daily Starbucks triple pumpkin dessert cocoaccino latte (only $27 and 1500 calories, and don't even think about talking to her her in the morning until she's finished it). "I guess there's just no way to escape this male-dominated society where sexist techbros live in the lap of luxury while marginalized people like me subsist on crumbs," she thinks to herself as she steps over a homeless man. Meanwhile... This is Bob. Bob was bullied by the other kids at his school (like his first crush Ann) as a child for his slightly odd-looking face. This caused him to retreat into the more anonymous world of the Internet where nobody could know his appearance. The other kids mocked him for that too, and his parents didn't understand why he'd want to "waste" his time talking to people he "didn't even know", but he ignored them. It didn't entirely cure his loneliness, but it did expose him to ideas and opinions that he would not have otherwise explored. Sure, he went through an embarrassingly self-righteous atheist phase as a teenager, but ultimately he developed into a sharp free-thinker with nuanced opinions. Bob found out about Bitcoin in 2012 from a Linux forum he was browsing. Already a firm believer in privacy, cryptography, decentralization, and technological freedom in general, the idea of Bitcoin immediately excited him. After carefully considering the economic viability of the concept, he concluded that Bitcoin's deflationary issuance curve and the possible applications of an enforceably scarce digital asset made it a worthwhile and likely quite valuable investment. He thus resolved to accrue as many of them as possible in order to save for his future. He cut down on his favorite hobby of gaming, reserving his GPU cycles for Bitcoin mining and his Steam sale money for buying Bitcoins instead. His IT job didn't make much and his one bedroom apartment wasn't cheap but he always found a way to set some money aside to expand his growing cryptoasset portfolio. His enthusiasm for Bitcoin was endless, and he wanted to share the positive potential of it with the world too, so he wrote guides, created infographics, and made YouTube videos about how to buy, use, and mine Bitcoins. Due to his efforts, thousands of people were able to get in on the craze early like him. Parents created college funds for their children. Young adults his age secured their financial futures. Impoverished folks in oppressive shitholes learned how to transfer money via their smartphones to avoid their corrupt governments confiscating it. He even endured the eye-rolling and snickering of his family members at Christmas time to make sure that they were all gifted a bit too. "Gee... thanks." The 2013 crash crushed Bob. He considered recouping as much of his money as possible and exiting the Bitcoin world permanently, but ultimately decided against it on principle. He had taken a risk and was sticking to it. He still believed in Bitcoin. Bob's bet on Bitcoin has paid off. He is now a multimillionaire, at least on paper. Other than a few donations to various organizations, his Bitcoins have stayed in the original addresses they were first put into. After all, he is still prudently considering exactly how to spend and grow his newfound wealth, and since he's now the manager of his company's IT department, his salary more than supports his modest lifestyle by itself, so he's in no rush to "cash out". While trying to chat with Ann on a whim after running into her at a grocery store, Bob mentioned Bitcoin to her in 2012. It made her finally look up from her phone. "That's the dumbest idea I've ever heard of!" she shrieked. She would know too, she thought, since she's a college-educated woman, unlike Bob who had skipped college because "government subsidies have distorted the higher education market and lowered the value of a college degree" (as if using fancy words made him smart like her). Nevertheless, he persisted, offering to show her how it worked and even set up a wallet for her. Bob's Bitcoin evangelism could certainly be a bit aggressive at times, but he meant well. He would gladly send 10 or 20 dollars worth to anybody who wanted to get started. She responded that he was creeping her out and needed to buzz off before she called security. Of course she wasn't really going to waste such an effort on this harmless loser, but she just couldn't stand hearing his nasally little voice anymore. He probably just wanted to creepshot her yoga pants anyway. Briskly sauntering away, she giggled to herself: "How could a file on a computer be worth anything? I could just copy and paste as many 'BitCoins' as I want," she concluded, forgetting about the idea as soon as she had first heard of it. Plus, her company was already working "with blockchain", which its CEO had told her was the only important part of "BitCoin" anyway. "He has actual money too and not just fake Internet coins so he clearly knows more than Bob." Ann took slight notice of the 2013 bubble, but she was too busy moving into her new home then to pay much attention to it. When Bitcoin was hacked and the government shut it down (as Ann interpreted events), popping the bubble, she texted Bob: "Told ya so." There was no response. She figured he had probably already killed himself or something. Oh well! She had to get out of her sweatpants and ready for the club anyway so she didn't have time to worry about it. In fact, she didn't have a single thought about Bob again until... In 2017, Bob once again crosses Ann's mind. The network miraculously revived, one Bitcoin is now worth over 10 thousand dollars, and Bob is almost certainly loaded. She stares at her phone, thinking of how to best break the ice with him. "Hey Bob I just wanted to say that I'm sorry for some of the things I said to you in the past and how I treated you when we were kids and all. I know this is out of nowhere but I'm just kind of feeling guilty lately soo.... maybe we could meet up sometime and talk about it?? You could tell me more about those bitcoin thingies you we're so excited about back in the day haha" Again no response comes and she whips her iPhone X on to the bed in frustration. Retrieving it, she switches over to Safari to look Bob up on social media, only to find that he's dating a shy 18 year old Finnish girl he met online. "That pervert!" she gasps as she glances over the girl's milky skin and youthful face. "She is WAY too young for him! He should want an ACCOMPLISHED, MATURE woman like me, not some little girl! I bet the freak looks at child porn too!" Her fingers drip with venom as she texts one of her remaining beta orbiters. "Hey," she begins, "you know how to draw funny cartoons right" She hits send.
submitted by ImJustaBagofHammers to copypasta [link] [comments]

MeWe: A trip report

Among the more frequently mentioned G+ alternatives at the Google+ Mass Migration community, and others, is MeWe with over 250 mentions. The site bills itself as "The Next-Gen Social Network" and the "anti-Facebook": "No Ads, No Political Bias, No Spyware. NO BS. It is headed by professed Libertarian CEO Mark Weinstein.
As the site reveals no public user-generated content to non-members, it's necessary to create an account in order to get a full impression. I thought I'd provide an overview based on recent explorations.
This report leads of with background on the company, though readers may find the report and analysis of specific groups on the site of interest.

Leadership

Founder & CEO Mark Weinstein.
Co-Founder & Chief Scientist, Jonathan Wolfe (no longer with company).
Weinstein previously founded SuperFamily and SuperFriends, "at the turn of the millennium". Weinstein's MeWe biography lists articles published by The Mirror (UK), Huffington Post, USA Today, InfoSecurity Magazine, Dark Reading, and the Nation. His media appearances include MarketWatch, PBS, Fox News, and CNN. He's also the author of several personal-success books.
His Crunchbase bio is a repeat of the MeWe content.

Advisory Board

Ownership & Investment

MeWe is the dba of Sgrouples, a private for-profit early-stage venture company based in Los Angeles, though with a Mountain View HQ and mailing address, 11-50 employees, with $10m in funding over five rounds, and a $20m valuation as of 2016.
Sgrouples, Inc., dba MeWe Trust & Safety - Legal Policy c/o Fenwick West 801 California Street Mountain View, CA 94041
Crunchbase Profile.
Founded: 2012 (source)
Secured $1.2M in seed funding in 2014.
2016 valuation: $20m (source]
Backers:
Despite the business address, the company claims to be based in Los Angeles County, California and is described by the Los Angeles Business Journal as a Culver City, CA, company.

Business

Policy

In an August 6, 2018 Twitter post, Weinstein promotes MeWe writing:
Do you have friends still on Facebook? Share this link with them about Facebook wanting their banking information - tell them to move to MeWe now! No Ads. No Spyware. No Political Agenda. No Bias Algorithms. No Shadow Banning. No Facial Recognition.
MeWe provide several policy-related links on the site:
Highlights of these follow.

Privacy

The privacy policy addresses:

Terms of Service

The ToS addresses:
Effective: November 6, 2018.

FAQ

The FAQ addresses:

Values

This emphasises that people are social cratures and private people by right. The service offers the power of self expression under an umbrella of safety. It notes that our innermost thoughts require privacy.
Under "We aspire...":
MeWe is here to empower and enrich your world. We challenge the status quo by making privacy, respect, and safety the foundations of an innovatively designed, easy-to-use social experience.
Totalling 182 words.

Privacy Bill of Rights

A ten-item statement of principles (possibly inspired by another document, it might appear):
  1. You own your personal information & content. It is explicitly not ours.
  2. You will never receive a targeted advertisement or 3rd party content based on what you do or say online. We think that's creepy.
  3. You see every post in timeline order from your friends, family & groups. We do not manipulate, filter, or change the order of your content or what you see.
  4. Permissions & privacy are your rights. You control them.
  5. You control who can access your content.
  6. You control what, if anything, others can see in member searches.
  7. Your privacy means we do not share your personal information with anyone.
  8. Your emojis are for you and your friends. We do not monitor or mine your data.
  9. Your face is your business. We do not use facial recognition technology.
  10. You have the right to delete your account and take your content with you at any time.

Press

There are a few mentions of MeWe in the press, some listed on the company's website, others via web search.

Self-reported articles

The following articles are linked directly from MeWe's Press page:
The page also lists a "Privacy Revolution Required Reading" list of 20 articles all addressing Facebook privacy gaffes in the mainstream press (Wired, TechCrunch, Fortune, Gizmodo, The Guardian, etc.).
There are further self-reported mentions in several of the company's PR releases over the years.

Other mentions

A DuckDuckGo search produces several other press mentions, including:

Technology

This section is a basic rundown of the user-visible site technology.

Mobile Web

The site is not natively accessible from a mobile Web browser as it is overlayed with a promotion for the mobile application instead. Selecting "Desktop View" in most mobile browsers should allow browser-based access.

Mobile App

There are both Android and iOS apps for MeWe. I've used neither of these, though the App store entries note:
Crunchbase cites 209,220 mobile downloads over the past 30 days (via Apptopia), an 80.78% monthly growth rate, from Google Play.

Desktop Web

Either selecting "View Desktop" or navigating with a Desktop browser to https://www.mewe.com your are presented with a registration screen, with the "About", "Privacy Bill of Rights", "MeWe Challenge", and a language selector across the top of the page. Information requested are first and last name, phone or email, and a password. Pseudonymous identities are permitted, though this isn't noted on the login screen. Returning members can use the "Member Log In" button.
The uMatrix Firefox extension reveals no third-party content: all page elements are served from mewe.com, img.mewe.com, cdn.mewe.com, or ws.mewe.com. (In subsequent browsing, you may find third-party plugins from, for example, YouTube, for videos, or Giphy, for animated GIFs.)
The web front-end is nginx. The site uses SSL v3, issued by DigiCert Inc. to Sgrouples, Inc.

Onboarding

The onboarding experience is stark. There is no default content presented. A set of unidentified icons spans the top of the screen, these turn out to be Home, Chats, Groups, Pages, and Events. New users have to, somehow, find groups or people to connect with, and there's little guidance as to how to do this.

Interface

Generally there is a three panel view, with left- and right-hand sidebars of largely navigational or status information, and a central panel with main content. There are also pop-up elements for chats, an omnipresent feature of the site.
Controls display labels on some devices and/or resolutions. Controls do not provide tooltips for navigational aid.

Features

Among the touted features of MeWe are:

Community

A key aspect of any social network is its community. Some of the available or ascertained information on this follows.

Size

Weinstein claims a "million+ following inside MeWe.com" on Twitter.
The largest visible groups appear to have a maximum of around 15,000 members , for "Awesome gifs". "Clean Comedy" rates 13,350, and the largest open political groups, 11,000+ members.
This compares to Google+ which has a staggering, though Android-registrations-inflated 3.3 billion profiles, and 7.9 million communities, though the largest of these come in at under 10 million members. It's likely that MeWe's membership is on the whole more more active than Google+'s, where generally-visible posting activity was limited to just over 9% of all profiles, and the active user base was well under 1% of the total nominal population.

Active Users

MeWe do not publish active users (e.g., MUA / monthly active users) statistics.

Groups

MeWe is principally a group-oriented discussion site -- interactions take place either between individuals or within group contexts. Virtually all discovery is group-oriented. The selection and dynamics of groups on the site will likely strongly affect user experience, so exploring the available groups and their characteristics is of interest.
"MeWe has over 60,000 open groups" according to its FAQ.
The Open groups -- visible to any registered MeWe user, though not to the general public Web -- are browsable, though sections and topics must be expanded to view the contents: an overview isn't immediately accessible. We provide a taste here.
A selection of ten featured topics spans the top of the browser. As I view these, they are:
Specific groups may appear in multiple categories.
The top Groups within these topics have, variously, 15,482, 7,738, 15,482 (dupe), 7,745, 8,223, 8,220, 1,713, 9,527, 2,716, and 1,516 members. Listings scroll at length -- the Music topic has 234 Groups, ranging in size from 5 to 5,738 members, with a median of 59, mean of 311.4, and a 90%ile of 743.5.
Below this is a grid of topics, 122 in all, ranging from Activism to Wellness, and including among them. A selected sample of these topics, with top groups listed members in (parens), follows:
To be clear: whilst I've not included every topic, I've sampled a majority of them above, and listed not an arbitrary selection, but the top few Groups under each topic.

Google+ Groups

The Google Plus expats group seems the most active of these by far.

Political Groups

It's curious that MeWe make a specific point in their FAQ that:
At MeWe we have absolutely no political agenda and we have a very straightforward Terms of Service. MeWe is for all law-abiding people everywhere in the world, regardless of political, ethnic, religious, sexual, and other preferences.
There are 403 political groups on MeWe. I won't list them all here, but the first 100 or so give a pretty clear idea of flavour. Again, membership is in (parentheses). Note that half the total political Groups memberships are in the first 21 groups listed here, the first 6 are 25% of the total.
  1. Donald J. Trump 2016 - Present (11486)
  2. The Conservative's Hangout (8345)
  3. Qanon Follow The White Rabbit (5600)
  4. Drain The Swamp (4978)
  5. Libertarians (4528)
  6. United We Stand Trump2020 (4216)
  7. The Right To Self Defense (3757)
  8. Alternative Media (3711)
  9. Hardcore Conservative Patriots for Trump (3192)
  10. Bastket Of Deplorables4Trump! (3032)
  11. Return of the Republic (2509)
  12. Infowars Chat Room Unofficial (2159)
  13. Donald Trump Our President 2017-2025 (2033)
  14. Berners for Progress (1963)
  15. Sean Hannity Fans (1901)
  16. The American Conservative (1839)
  17. I Am The NRA (1704)
  18. Tucker Carlson Fox News (1645)
  19. We Love Donald Trump (1611)
  20. MAGA - Make America Great Again (1512)
  21. Q (1396)
  22. ClashDaily.com (1384)
  23. news from the front (1337)
  24. Basket of Deplorables (1317)
  25. Payton's Park Bench (1283)
  26. Convention of States (1282)
  27. Britons For Brexit (1186)
  28. MoJo 5.0 Radio (1180)
  29. MeWe Free Press (1119)
  30. The Constitutionally Elite (1110)
  31. Libertarian (1097)
  32. WOMEN FOR PRESIDENT TRUMP (1032)
  33. AMERICANS AGAINST ISIS and OTHER ENEMIES (943)
  34. #WalkAway Campaign (894)
  35. ALEX JONES (877)
  36. The Lion Is Awake ! (854)
  37. We Support Donald Trump! (810)
  38. The Stratosphere Lounge (789)
  39. TRUMP-USA-HANDS OFF OUR PRESIDENT (767)
  40. Official Tea Party USA (749)
  41. Mojo50 Jackholes (739)
  42. Yes Scotland (697)
  43. "WE THE DEPLORABLE" - MOVE ON SNOWFLAKE! (688)
  44. Judge Jeanine Pirro Fans (671)
  45. Anarcho-Capitalism (658)
  46. Ted Cruz for President (650)
  47. No Lapdog Media (647)
  48. Q Chatter (647)
  49. Daily Brexit (636)
  50. Tucker Carlson Fox News (601)
  51. The Trumps Storm Group (600)
  52. QAnon-Patriots WWG1WGA (598)
  53. 100% American (569)
  54. Ladies For Donald Trump (566)
  55. Deep State (560)
  56. In the Name of Liberty (557)
  57. Material Planet (555)
  58. WikiUnderground (555)
  59. Trump NRA Free Speech Patriots on MeWe Gab.ai etc (546)
  60. Magna Carta Group (520)
  61. Constitutional Conservatives (506)
  62. Question Everything (503)
  63. Conspiracy Research (500)
  64. Bill O'Reilly Fans (481)
  65. Conservative Misfit's (479)
  66. Canadian politics (478)
  67. Anarchism (464)
  68. HARDCORE DEPLORABLES (454)
  69. Deplorable (450)
  70. Tampa Bay Trump Club (445)
  71. UK Politics (430)
  72. Bongino Fan Page (429)
  73. Radical Conservatives (429)
  74. RESIST THE RESISTANCE (419)
  75. The Deplorables (409)
  76. America's Freedom Fighters (401)
  77. Politically Incorrect & Proud (399)
  78. CONSERVATIVES FOR AMERICA ! (385)
  79. Political satire (383)
  80. RISE OF THE RIGHT (371)
  81. UK Sovereignty,Independence,Democracy -Everlasting (366)
  82. The Patriots Voting Coalition (359)
  83. End The Insanity (349)
  84. Coming American Civil War! (345)
  85. Constitutional Conservatives (343)
  86. United Nations Watch (342)
  87. A Revival Of The Critical Thinking Union (337)
  88. The New Libertarian (335)
  89. Libertarian Party (official ) (333)
  90. DDS United (Duterte Die-hard Supporters) (332)
  91. American Conservative Veterans (331)
  92. Anarchism/Agorism/Voluntaryism (328)
  93. America Needs Donald Trump (326)
  94. The UKIP Debating Society (321)
  95. Coalition For Trump (310)
  96. Egalitarianism (306)
  97. FRIENDS THAT LIKE JILL STEIN AND THE GREEN PARTY (292)
  98. 2nd Amendment (287)
  99. Never Forget #SethRich (286)
  100. Green Party Supporters 2020 (283)
It seems there is relatively little representation from the left wing, or even the centre, of the political spectrum. A case-insensitive match for "liberal" turns up:
Mainstream political parties are little represented, though again, the balance seems skewed searching on "(democrat|republic|gop)":
The terms "left" and "right" provide a few matches, not all strictly political-axis aligned:
Socialism and Communism also warrant a few mentions:
And there are some references to green, laboulabor parties:

Conclusion

Whilst there may not be a political agenda, there does appear to be at least a slight political bias to the site. And a distinctive skew on many other topical subjects.
Those seeking new homes online may wish to take this into account.

Updates

submitted by dredmorbius to plexodus [link] [comments]

Read: An open letter to bitcoin miner

https://keepingstock.net/an-open-letter-to-bitcoin-miners-c260467e1f0
Dear Bitcoin Miner,
My name is Jonald, and I am a Bitcoin investor.
I bought my first Bitcoins in 2013 and have been active on the Bitcointalk forum since March, 2014. I’m also a small business owner that actually uses Bitcoin for
Since Bitcoin investors and miners need each other to succeed, I wanted to take a minute to reach out to you, and send a sincere message from a “real Bitcoiner”. I’ll cut right to the chase:
I’m concerned. I believe we urgently need to find a scaling solution, and I believe the best solution is to increase the blocksize.
At least, hear me out.
Why Should You Listen to Me?
There’s a huge amount of misinformation, dishonesty, and political agendas attached to the Great Scaling Debate. The situation is serious and there’s a lot at stake here.
I am not beholden to any special interests. No one is paying me to write this. I am not a contributor to any Bitcoin projects, but I am quite familiar with the scaling topic because I’ve been following it for some time now, and I am knowledgeable enough to clearly understand the technical details.
I’ve heard all the arguments from every side of the debate, and I want to give you my honest, unbiased, unfiltered understanding of the situation.
Let’s Start At the Beginning
In 2008, Satoshi Nakamoto published a paper titled Bitcoin: A Peer-to-Peer Electronic Cash System. Everybody knows this, but the exact title needs to be repeated because today, even the most basic facets of Bitcoin are being challenged. Should Bitcoin really be “cash” or instead “digital gold”? And if we follow Satoshi’s plan, is it really peer to peer?
These questions come not so much from open-minded inquiry, but rather from a biased agenda. This would have been inconceivable a few years ago, but now things have become so political, that certain people even want to re-write the Bitcoin whitepaper.
(Attempting to re-write history has always been a favorite tactic of tyrannical elites.)
Satoshi’s Vision to Scale Bitcoin
Regardless of “which side” of the scaling debate you are on, it should not be contested that Satoshi always planned for and advocated for simple, on-chain scaling.
When asked how Bitcoin would scale to Visa-like levels, he said:
Long before the network gets anywhere near as large as that, it would be safe for users to use Simplified Payment Verification (section 8) to check for double spending, which only requires having the chain of block headers, or about 12KB per day. Only people trying to create new coins would need to run network nodes. At first, most users would run network nodes, but as the network grows beyond a certain point, it would be left more and more to specialists with server farms of specialized hardware. A server farm would only need to have one node on the network and the rest of the LAN connects with that one node.
The bandwidth might not be as prohibitive as you think. A typical transaction would be about 400 bytes (ECC is nicely compact). Each transaction has to be broadcast twice, so lets say 1KB per transaction. Visa processed 37 billion transactions in FY2008, or an average of 100 million transactions per day. That many transactions would take 100GB of bandwidth, or the size of 12 DVD or 2 HD quality movies, or about $18 worth of bandwidth at current prices.
If the network were to get that big, it would take several years, and by then, sending 2 HD movies over the Internet would probably not seem like a big deal.
Satoshi Nakamoto
Source
Disturbingly, this simple quote from Satoshi was moderated (deleted) from the bitcoin reddit page. I’ll revisit the censorship issue in a moment.
Another important fact is that the current blocksize limit of 1mb was intended to be a temporary measure. This was something ‘everyone’ knew before the debate became politicized.
One of the earliest code reviewers, Ray Dillinger, explained that he, Hal Finey, and Satoshi all agreed the limit was to be temporary.
Satoshi also provided the means to raise the limit with his famous quote:
It can be phased in, like:
if (blocknumber > 115000) maxblocksize = largerlimit
Here is one more explanation from Satoshi, in an email to Mike Hearn, about why Bitcoin never hits a scaling ceiling.
Sure, Satoshi isn’t God. The point isn’t to appeal to his authority, but simply to remember that Bitcoin always had a scaling plan in place from the beginning.
…But the “Core Devs” Had Other Ideas.
The history of the current crop of Bitcoin Core developers has been already summarized and described elsewhere.
Explanations have been given for the unproductive scaling conferences, the broken Hong Kong agreements, and so on, but it should be extremely clear to everyone, based on years of their behavior (and even their own words), that the Core group does not want to scale Bitcoin with a simple blocksize increase.
In fact, they (and their supporters) have done everything in their power to prevent this, including engaging in massive censorship.
Their primary arguments are as follows:
It is problematic to raise the limit because it requires a hard fork, which is difficult to coordinate.Bitcoin nodes should be as inexpensive to run as possible, otherwise the decentralization of Bitcoin will be threatened.Without a constraint on the blocksize, Bitcoin won’t be secure once subsidies (block rewards) decline.
None of These Arguments Have Sufficient Merit to Forestall a Blocksize Increase
I am not saying the arguments are entirely without merit. Few things in life are ever 100% black-and-white. But we have to weigh the merits of these positions against the alternatives, and against other factors in the Bitcoin ecosystem.
Let’s take one at a time:
The “Hard Forks Are Dangerous” Myth
This was a prominent talking point in 2014–2015. However, the truth is that hard forks (HF) are not necessarily dangerous, especially if they occur with a clear majority of hashing power supporting the upgraded consensus rules.
The previous group of developers, including Gavin Andresen, Jeff Garzik, and Mike Hearn, all supported upgrading Bitcoin with hard forks.
Initially, the discussion was whether the new maximum blocksize would be 2MB, 4MB, or 8MB. What begin as a minor difference of opinions between the miners somehow snowballed into a potent meme that consensus over scaling was going to be difficult.
The developers starting adding their own opinions about hard forks, creating additional friction. Yes, it is easy to claim there is contention when you are among those being contentious!
Core has no official leadership positions or governance structure. Because of this, it has been easy to justify inaction by simply concluding that “there’s no consensus”. And since they control the reference code repository, their refusal to raise the limit effects everyone else.
In practice, Core does have leaders. How else can it be explained that segwit was merged into the code (even if not activated) with practically no public debate whatsoever?
On a side note, prominent Core developers have denied that Core decides what code is published, and have denied there is any leadership. This is an example of the kind of constant misinformation that is being generated on a daily basis.
Back to the HF issue:
Many altcoins like Monero have regular hard forks. Coordination between major players in an ecosystem is not a big challenge if everyone is on the same page.
So far, I have not heard of a single problem that an altcoin had in performing a network upgrade via hard fork. So, there is evidence that they can be done safely.
In addition, if Core admits in their roadmap that eventually the blocksize will need to be increased, then why not do it now when it is badly needed? There is no logical reason why it would be more risky now rather than later.
Decentralization Myths
There are actually several myths surrounding the issue of decentralization. Let’s address the obvious ones:
The most ludicrous is the “all users should be running full nodes” idea.
As others have explained, there is no security provided to the network by non-mining ‘full nodes’. Only mining nodes secure and extend Bitcon’s distributed ledger.
The white paper explains why most users do not need to run full nodes:
It is possible to verify payments without running a full network node. A user only needs to keep a copy of the block headers of the longest proof-of-work chain, which he can get by querying network nodes until he’s convinced he has the longest chain, and obtain the Merkle branch linking the transaction to the block it’s timestamped in. He can’t check the transaction for himself, but by linking it to a place in the chain, he can see that a network node has accepted it, and blocks added after it further confirm the network has accepted it… …Businesses that receive frequent payments will probably still want to run their own nodes for more independent security and quicker verification.
The idea that a lot of non-mining full nodes will make the network more decentralized (because they can make sure the miners are behaving) is erroneous, because an SPV client can already query the network’s nodes. Generally, there would only be a problem if a majority mining of nodes were colluding dishonestly, in which case Bitcoin would be already broken.
A more valid concern is that as nodes become more expensive, eventually only large corporations will run nodes. It is true that node costs will increase over time as the network grows. However, storage, bandwidth, and processing capabilities are also constantly increasing.
Just as important: By the time that capacity increases — lets say from 3 TPS (transactions per second) to 30 TPS — the network will be so large that it likely won’t be any less decentralized, even if it costs more to run a node.
At 3000 TPS, Bitcoin would be highly dominant globally, and making use of the millions of datacenters and servers available worldwide. This was always the plan.
The Alternative Vision of Bitcoin Holds Decentralization Risks That Are Worse
Many users are not aware of the decentralization risks that come with the small-node/small-block vision of Bitcoin. Core’s vision for Bitcoin is to transform the peer-to-peer cash system into some kind of settlement network.
While this would be a way to keep node costs minimal, most users would be economically forced off the main chain because they cannot compete with institutions for fees. They would then need to get permission from trusted third parties to transact.
In my opinion, this represents a much more dangerous form of centralization than bigger blocks and expensive nodes.
The Fee-Market Failure Myth
The third primary argument of the small-block philosophy is that eventually, block rewards will run out, and mining fees will be the sole source of funding security. They then claim that without limiting the supply of transaction space, miners will be hopelessly caught in a tragedy-of-the-commons price war, with the users paying rock bottom fees, leading to a collapse of commercial mining.
There’s a few problems with this argument.
First of all, there is a natural market for every good and service in the world. There have been many price wars, but nothing with high demand ever stops being produced.
The concern that the network hashrate will become too low is based on several assumptions and variables, including the number of daily transactions, the willingness of the users to wait for confirmations, the willingness of the users to pay small amounts, the behavior of the miners, the fee policies set by various wallets, the emergent consensus on acceptable fees by the mining community, and other factors, including what actually is “too low” of a network hashrate in the first place.
The hypothetical failure of the natural fee market depends on all these assumptions combining into an unfavorable outcome, as well as the inability of the system to adjust itself favorably using any of these factors.
But, by far the biggest reason that this argument is bunk, is that it will be decades before the majority of the subsidies actually disappear.
Pure Foolishness: Overplanning the Future While Ignoring Urgent Issues Today
Why implement a plan that might help Bitcoin in 20–30 years, if it requires you to damage the user experience and erode the adoption and network effect of Bitcoin, today?
In the case of Bitcoin, it’s completely unnecessary to plan ahead that far, and the destructive consequences are already being seen.
This is the biggest reason why Core’s position should be considered indefensible. Even if their arguments have merit, it is more important to keep Bitcoin healthy right now, stay competitive, and keep the user base growing than to prevent the problems that may or may not happen later.
Even worse, those prevention plans work in direct opposition to the short term goals!
It is no less insane than demanding a bedridden hospital patient, badly in need of rest, to immediately go outside and start running laps because “exercise will help you live longer”.
What About Segwit?
It is my understanding that at “the Hong Kong meeting”, the miners agreed to Segwit PLUS a hardfork blocksize increase because they didn’t trust the Core team enough to offer satisfactory scaling in a timely manner.
I think their decision was smart. Core cannot be trusted. However, if Core changed their mind today, and agreed to the 2MB+Segwit, I would support that as a compromise to break the impasse.
They seem to be unwilling to do this.
Since miners are unwilling to accept segwit on its own, and since Core will not compromise, the only logical alternative is bigger blocks, which is the best option regardless.
What Core Wants
You may be wondering: How is it possible for people as intelligent as the Bitcoin Core developers to fail to see the obvious mistakes in their thinking?
American author Upton Sinclair’s famous quote comes to mind:
It is difficult to get a man to understand something, when his salary depends upon his not understanding it!
The Core team and their supporters want to change Bitcoin into a settlement network. They will deny this, but in my opinion, all of their actions point to this logical conclusion.
This is why they are against on chain scaling, and why segwit offers as little of it as possible while supporting their “HF are bad” narrative.
Additionally, I believe they also want to control public opinion by employing key individuals, by their associates and moderation policies on various platforms, and with an army of trolls.
They also intimidate and punish businesses that don’t fall in line. For example, coinbase.com was delisted from bitcoin.org for supporting Bitcoin XT instead of the Core client.
Despite these shenanigans, companies do support bigger blocks and on-chain scaling.
Most importantly, they want to scare you, the miner, into believing that the community doesn’t really want big blocks and if that if you mine big blocks, you’ll be forked off to a worthless coin and left with worthless ASICs.
Do not let them intimidate you.
What the Users Want
Most users just want a Bitcoin that works. They do not want slow confirmation and high fees. Most Bitcoiners that use bitcoin frequently understand the issues and support bigger blocks.
Despite all the trolling and propaganda, users controlling actual coins vote overwhelmingly in favor of Satoshi’s scaling plan.
The “Healthy Fee Market” is Already Unhealthy
Even IF a centrally planned fee market was a good idea right now, it is being managed poorly. A “healthy” fee market should strive to provide adequate fee revenue while at the same time provide a good user experience and promote growth of the network and user base.
While miner revenue is certainly adequate, the user experience is severely degraded because of slow confirmations and high fees, and this is definitely not attractive or conducive to growing the user base.
If keeping the blocksize at 1mb was an experiment to see how the fee market would develop, it has already played out its usefulness. To keep fees at a level competitive with other coins, supply must catch up with demand (we must raise the blocksize) . But these developers seem to have no interest in doing so. They would rather carry on with their agenda than serve the users.
What About Bitcoin As a Store-of-Value or as “Digital Gold”?
The great thing about Bitcoin is that it can be both a cash-like payment system and a gold-like store of value. These two aspects enhance each other.
Exposed to the propaganda that Bitcoin can’t scale as electronic cash, some users have said “that’s ok. I’m fine with Bitcoin being digital gold only”. The problem with this thinking is that Bitcoin has competition.
If another coin is useful to store value AND to transact cheaply with, it severely undermines Bitcon’s appeal to investors. At the same time, it greatly dampens demand for actual usage.
Sure, its possible that Bitcoin could survive in some form as digital gold, but it would be at a huge disadvantage.
Small Blocks Destroy Miner Revenue
At first glance, the idea that smaller blocks are bad for mining revenue may appear incorrect, since fee rates have recently exploded based on the demand of Bitcoin transactions outpacing the supply of space in the blocks.
However, this trend cannot continue for long, since users will only pay so much. At the same time, new users and new demand are being shut out from the ecosystem.
To use an analogy: Who makes more money — the farmer in town “A” selling milk from one cow? Or the farmer in town “B” selling milk from 8 cows? Townspeople in “A” might pay more per bottle, but they’ll only pay so much for it. They will start drinking something else, drink milk less often, or import their milk from another town.
Bitcoin miners simply cannot meet the demands of users at fees they are willing to reasonably pay if blocks are restricted to 1mb… and users will find satisfactory alternatives which are quickly becoming abundant.
The situation will become even worse in the long run if Core is allowed to create “second layer solutions”, because those solutions will probably not be free, and they will further absorb the money that users are willing to spend in order to transact.
This will be bad for miners, and bad for network security. It will make bitcoin even less competitive, and money will leave the ecosystem.
Price Always Lags Behind Fundamentals
It is easy to look at a high Bitcoin price and think that everything is fine. If things were going so badly, why isn’t the price dropping?
But, price doesn’t always reflect the underlying fundamentals of a market in the short term.
In the long run, fundamentals always dictate the direction of the market. Daytraders are flat at the end of the day. Speculators come and go. In the end, it’s only the long term investors and the non-speculative demand that determines the price.
The fundamental value of Bitcoin primarily comes from its usefulness as a payment system. If that system ceases to be useful, Bitcoin will cease to be valuable.
Time To Act. Let’s Help Bitcoin Grow Again.
It’s always better to fix a problem BEFORE it gets too big. As they say, “an ounce of prevention is worth a pound of cure”.
If we wait until the Bitcoin price crashes because Bitcoin is unusable as a currency, it will be too late. We would have already lost serious momentum, marketshare, users, reputation, and merchants.
This is already happening, but there is still time to act.
I urge you: don’t be complacent.
You are the miner. You have the power. Start signaling for bigger blocks today, and let’s make sure Bitcoin stays #1.
Help Spread the Word
If you’re not a miner, but a concerned investor like myself, then please spread this message far and wide, and ask the miners and pools that you know for bigger blocks.
Addendum
This article is available in several foreign language formats:
Chinese Spanish Japanese German Russian
https://keepingstock.net/an-open-letter-to-bitcoin-miners-c260467e1f0
submitted by german_bitcoiner to btc [link] [comments]

Why Elastos Matters.

What is Elastos?
Elastos is a blockchain based operating system which is the world's first open source Internet Operating System. The Elastos Foundation was founded by Rong Chen and Sunny Feng Han, aiming to create a new Internet system powered by blockchain technology. On this new Internet, people will be able to own digital assets and generate wealth from them. Elastos will be used as the base-layer infrastructure rather than an application and has received sponsorship of over 200 million RMB from the Foxconn Group and other industry giants for its research and development. Elastos has open-sourced tens of millions of lines of source code, including more than four million lines of original source code. DApps are forced to never connect directly with the internet and only interact with the Elastos runtime (which in turn acts as a middle layer, then connecting to the internet) and you’ve essentially got a system that’s 90% more secure than the way IoT or smart devices currently work. Today if I have 50 smart devices in my home, they all interact with the internet, I need to worry about 50 security threats. With Elastos, all I need to worry about is 1 threat, an attack on the Elastos runtime itself, this is a 10x better set-up and applies to IoT or frankly any device, with the beauty being its code written in C++ so any device can run it, even your fridge, and it’s open source, so any developer can make whatever DApps they want.
The Elastos Value Proposition
Brief Summary?
Conversation with Su Yipeng, the Chief Architect of Elastos
  1. Storage and Speed
  2. Bugs within the Smart Contracts (security vulnerability).
  3. Cost
  4. Deletion of redundant data
  5. Security
The issue with second generation smart contracts is that they have to run solely on the blockchain, which causes network congestion and high transaction costs. Decentralized applications for Elastos are run by blockchain technology but can be built on current Operating Systems (IOS, Andriod and computer). Rong Chen understands the importance of ease of use for both the consumer and the producers. The integration of multiple well known coding languages make development relativity easier than other blockchains. They also support Android and Apple Operating Systems, which most other blockchains do not.
Elastos is not just the new internet, but the entire smart economy. Focusing on digital assets, monetizing computing power and spare storage, financially incentive trade of digital assets all combined with the highest level of security and the removal of the middleman. With speed, security and minimal cost at the heart of Elastos, it is bound to scale over time. Elastos is a third generation blockchain technology that tackles the issues we have with second generation cryptocurrencies such as Ethereum.
Development History(Tens of Millions of Open-Source Code spanning Decades)
What is the Elastos Blockchain structure?
Diagram to how merge mining works with bitcoin and Elastos
Diagram to how elastos blockchain looks like and how P2P network is implemented
Diagram to how elastos carrier works
What are Elastos mainchain and sidechains in elastos ecosystem?
One of the highlights of the design is that it makes use of a blend of mainchains and sidechains to improve the computational ability of blockchain technology. The mainchain only executes simple transactions and payment transfers while the sidechain handles smart contracts to support services and applications. With this structure scalability and security can be accomplished.
Similar to the Operating System on a mobile device, users need a trustworthy location to store important data. The Elastos blockchain works as this trust zone for the entire network Operating System. The Elastos blockchain applies main and sidechain solutions to facilitate the smart economy and a healthy decentralized application environment. This means that every application can create individual sidechains. The Elastos blockchain provides built-in, complete, easy-to-use sidechain support. They will also be customizable, allowing clients to pick a different consensus method depending on the use case.
Any system built with blockchain technology has less computing power than a traditional computer, and so will not be able to meet the various requirements of internet applications (such as video games or streaming a high-definition movie). This is a fundamental reason why blockchains still cannot be applied on the internet at a large scale. The Elastos team recognizes this fact, and therefore believes that blockchain development should not rely solely on the main chain for computation. Elastos aims to scale their blockchain system by providing support for sidechains, which will help meet requirements for running applications with high IOPS. The Elastos main chain will be responsible for the small but very important role of trading and transferring ELA, thus providing stability to the blockchain system. Elastos wants to avoid bloating the main chain with unnecessary smart contracts. Instead, only major infrastructure upgrades will take place on the main chain. All other smart contracts can be implemented on sidechains, enabling scalability. This kind of hierarchical and structured design philosophy will pave the way for a future blockchain paradigm, such as the aforementioned development from stand-alone computation to a distributed one. This is a key innovation in blockchain technology, and more important than the partial technology of singular consensus algorithms and chains. The team will implement basic services as sidechains for global and public use. These services include ID generation, token distribution, digital asset trading, and fast payment systems. These basic services, all important infrastructural components, are part of the Elastos Smart Web. In addition, the team will also provide support for third-party sidechain development. Transactions are the most important part of the interface between the main and sidechains. The transaction procedure for sending tokens from the main chain to a sidechain is equivalent to sending from a user account on the main chain to a multi-signature address corresponding to the sidechain. The process automatically checks that the sidechain can identify the transaction and deposit the equivalent value of sidechain tokens to the sidechain account.
What is the business model for Elastos?
Example of how the above works?
Current blockchain technology allows for the recording of property rights. But while users can prove that digital books belong to them, they can’t necessarily prevent people from stealing or reading these books without permission. In such an environment, it is very difficult to monetize digital assets. Elastos aims to solve this problem by creating an environment in which the execution of a digital asset (i.e., the viewing, buying or selling of a digital movie) all take place on the Elastos Smart Web, and therefore abide by the rules of smart contracts. The creator of digital content can use a tool, provided by Elastos, to determine the number of digital assets to produce. Authors, for example, can decide that they only want to have 5000 copies of their books in circulation on the Smart Web. Setting a finite amount of digital content produces scarcity and enables the realization of capital. Elastos also wants to enable consumers to become investors. Say there are only 5000 digital books in circulation, and that these books become extremely popular. That means that every one of those books will increase in value, creating potential wealth for the people who bought them. After enjoying the book, the customer could sell it to someone else for a higher price. Users can also buy limited edition game apps. After playing those games in Elastos Runtime on their cell phones, they can sell the games to other people. Because these games are limited editions, their value will fluctuate on the second-hand market. In another use case, filmmakers could raise money for their movies by crowdfunding through issuing their tokens. The filmmakers could write a smart contract saying that every time someone watches the movie, token holders will get a small share of the fee. The filmmakers may also write another smart contract to let moviegoers sell the movie peer-to-peer or via social networks and receive commissions. This system creates financial opportunities for both creators and consumers, thus incentivizing more people to use Elastos. The accumulation of more users will incentivize more digital content creators to produce and publish content on the Elastos platform. This increase in content could then attract even more users, and those additional users will create more content. This is a positive cycle that will result in a large amount of valuable digital content that can be used to generate wealth.
submitted by amos1994 to CryptoCurrency [link] [comments]

this comment was gilded twice

How it actually happened:
This is Ann. Ann started her career at 16 when she blew the manager (a creepy pervert who forced her into it, she #MeToos to this day) at the local grocery store so she could immediately get a position as a cashier instead of having to start off in the storeroom stacking boxes "like some Chinese slave worker". Ann, who believed in "treating" herself for her hard work, did not save any of the money she earned, instead spending it on expensive clothing, fast food, movie tickets, smartphones, and nights out with "the girls". Her parents paid the bills anyway, so who cares?
It's okay though, because Ann was able to get financial aid from the government to attend the university of her dreams and study sociology, because "I'm, like, just so interested in how society works and how white men oppress women and are so racist and stuff, you know?" It only put her $100K in debt too. "You can't put a price on the college experience," thought Ann. Ann did no research on what degrees were in high demand before deciding on her major and sadly, "due to the patriarchy undervaluing the so-called 'soft' sciences" Ann repeated (as her women's studies professor had told her), her sociology degree did not open up as many doors for her as she would have hoped.
Luckily, however, one of Ann's old beta orbiters became the CEO of a new tech startup and, after finally hooking up with him a few times (her little secret from her then boyfriend Tyrone), she was able to snag a position as their chief diversity counselor. "Good thing that fat black bitch who tried to steal MY job was too full of fried chicken and gravy for any man to want to fuck her," she tipsily joked about the only other applicant (always forgetting to squelch her offensive quips when drunk), eliciting howling guffaws of approval from the pack of thonged, dyed-hair hyenas that surrounded her in celebration of her new job at the local bar. "Bartender, get us another round of appletinis!" Ann boomed. Cheers abounded.
Life was good, Ann's salary was high, and her mortgage for an $800K home in the Bay Area was approved. Unfortunately, it was eventually revealed that her company's "enterprise cloud blockchain solutions" were actually vaporware. It lost its VC funding and was forced to shut down.
Poor Ann had to leave her dream home, accept a lower paid HR assistant position at a boring non-tech company ("They make plastic water filters or something. I don't even know."), and move into a mere 3 bedroom apartment. "We're told to save," wrote Ann on a piece of paper that she posed with in an image posted to her Instagram, "but Oreos and Netflix are the only comforts poor people like us have. Don't we deserve nice things too? I AM the 99%!"
Ann's looks are already starting to fade due to ravages of a rough Haagen-Dazs by day/party slut by night lifestyle, and, though she'd never admit it to herself, she can tell that her "feminine charms" aren't as effective at creating opportunities for her as they used to be. Things have started to sag that never sagged before and even a Sephora warehouse couldn't get rid of the bags under her eyes. Strolling down the sidewalk, she takes a sip of her daily Starbucks triple pumpkin dessert cocoaccino latte (only $27 and 1500 calories, and don't even think about talking to her in the morning until she's finished one). "I guess there's just no way to escape this male-dominated society where sexist techbros live in the lap of luxury while marginalized people like me subsist on crumbs," she thinks to herself as she steps over a homeless man.
Meanwhile...
This is Bob. Bob was bullied by the other kids at his school (such as his childhood crush Ann) in his early years for his slightly odd-looking face. This caused him to retreat into the more anonymous world of the Internet where nobody could know what he looked like. The other kids mocked him for that too, and his parents didn't understand why he'd want to "waste" his time talking to people he "didn't even know", but he ignored them. It didn't completely cure his loneliness, but it did expose him to ideas and opinions that he would not have otherwise explored. Sure, he may have gone through an embarrassingly self-righteous atheist phase as a teenager, but ultimately he developed into a sharp free-thinker with nuanced opinions.
Bob found out about Bitcoin in 2012 from a Linux forum he was browsing. Already a firm believer in privacy, cryptography, decentralization, and technological freedom in general, the idea of Bitcoin immediately excited him. After carefully considering the economic viability of the concept, he concluded that Bitcoin's deflationary issuance curve and the possible applications of an enforceably scarce digital asset made it a worthwhile and likely quite valuable investment. He thus resolved to accrue as many of them as possible in order to save for his future. He cut down on his favorite hobby of gaming, reserving his GPU cycles for Bitcoin mining and his Steam sale money for buying Bitcoins instead. His IT job didn't make much and his one bedroom apartment was expensive but he always found a way to set some money aside to expand his growing cryptoasset portfolio.
His enthusiasm for Bitcoin was endless, and he wanted to share the positive potential of it with the world too, so he wrote guides, created infographics, and made videos for his YouTube channel about how to buy, use, and mine Bitcoins. Due to his efforts, thousands of people were able to get in on the craze early like him. Parents created college funds for their children. Young adults his age secured their financial futures. Impoverished people in oppressive shitholes learned how to transfer money via their smartphones to avoid their corrupt governments confiscating it. He even endured the eye-rolling and snickering of his family members at Christmas time to make sure that they were all gifted a bit too. "Gee... thanks."
The 2013 crash crushed Bob. He considered recouping as much of his money as possible and exiting the Bitcoin world permanently, but ultimately decided against it on principle. He had taken a risk and was sticking to it. He still believed in Bitcoin.
Bob's bet on Bitcoin has paid off. He is now a multimillionaire, at least on paper. Other than a few donations to various organizations, his Bitcoins have stayed in the original addresses they were first put into. After all, he is still prudently considering exactly how to spend and grow his newfound wealth, and since he's now the manager of his company's IT department, his salary more than supports his modest lifestyle by itself, so he's in no rush to "cash out".
While trying to chat with Ann on a whim after running into her at a grocery store, Bob mentioned Bitcoin to her in 2012. It made her finally look up from her phone. "That's the dumbest idea I've ever heard of!" she shrieked. She would know too, she thought, since she's a college-educated woman, unlike Bob who had skipped college because "government subsidies have distorted the higher education market and lowered the value of a college degree" (as if using fancy words made him smart like her). Nevertheless, he persisted, offering to show her how it worked and even set up a wallet for her. Bob's Bitcoin evangelism could certainly be a bit aggressive at times, but he meant well. He would gladly send 10 or 20 dollars worth to anybody who wanted to get started.
She responded that he was creeping her out and needed to stop talking to her before she called security. Of course she wasn't really going to waste such an effort on this harmless loser, but she just couldn't stand hearing his nasally little voice anymore. He probably just wanted to creepshot her yoga pants anyway. Briskly sauntering away, she giggled to herself: "How could a file on a computer be worth anything? I could just copy and paste as many 'BitCoins' as I want," she concluded, forgetting about the idea as soon as she had first heard of it. Plus, her company was already working with blockchain, which the CEO had told her was the only important part of "BitCoin" anyway. "He has actual money too and not just fake Internet coins so he clearly knows more than Bob."
Ann took slight notice of the 2013 bubble, but she was too busy moving into her new home then to pay much attention to it. When Bitcoin was hacked and the government shut it down (as Ann interpreted events), popping the bubble, she texted Bob: "Told ya so." There was no response. She figured he had probably already killed himself or something. Oh well! She had to get out of her sweatpants and ready for the club anyway so she didn't have time to worry about it. In fact, she didn't have a single thought about Bob again until...
In 2017, Bob once again crosses Ann's mind. The network miraculously revived, one Bitcoin is now worth over 10 thousand dollars, and Bob is almost certainly loaded. She stares at her phone, thinking of how to best break the ice with him. "Hey Bob I just wanted to say that I'm sorry for some of the things I said to you in the past and how I treated you when we were kids and all. I know this is out of nowhere but I'm just kind of feeling guilty lately soo.... maybe we could meet up sometime and talk about it?? You could tell me more about those bitcoin thingies you we're so excited about back in the day haha" Again no response comes and she whips her iPhone X on to the bed in frustration. Retrieving it, she switches over to Safari to look Bob up on social media, only to find that he's dating an 18 year old introverted Finnish girl he met online. "That pervert!" she gasps as she glances over the girl's milky skin and youthful face. "She is WAY too young for him. He should want an ACCOMPLISHED, MATURE woman like me. I bet the freak looks at child porn too!"
Her fingers drip with venom as she texts one of her remaining beta orbiters. "Hey," she begins, "you know how to draw funny cartoons right" She hits send.
submitted by lincoln1222 to copypasta [link] [comments]

QTUM Co Founder Patrick Dai: Rational Investment Independent Thinking

2018 "China Blockchain First Defense" and Industry Leaders Summit March 28th. The distinguished guests expressed their opinions on the blockchain industry, mine pool status, and token mechanism. The following is a series of questions answered by Qtum Co Founder Patrick Dai.
 
Q: Now what people in the industry are most worried about is where the regulatory policy goes? Will the regulatory measures in the blockchain field have a great impact on entrepreneurs?
 
Patrick Dai: At the very beginning of the industry, ICO actually started in the community in 2013, but in fact there was not a definite title at that time. It was more of an early programmer's mutual reward and support. Some open source software development. The earliest bitcoin-based bitcoin-based colorcoin protocol was proof of work. At that time, everyone could donate some bitcoins to get his color coins. The rise of the whole thing was when Ethereum did a standard of ERC20, making the distribution of this token extremely easy. In a sense, it promoted the following crazy financing behavior.*
As a practitioner in this industry, for this kind of thing, it is certainly from an industry internal perspective. I think that for ordinary people, this is definitely a high-risk thing, so we do not recommend that ordinary users participate in these early stages. Project investment and financing.
Because whether or not it is based on the blockchain industry, all investment in early projects is a high-risk investment behavior, and it is generally the participation of professional institutions and qualified investors. In the United States, it has passed certain laws and regulations to restrict it to some of the frameworks. I have read a bill some time ago. It seems that it is like a fundraising of 75 million U.S. dollars or less. It may be registered and reported by the SEC of the United States. Make fundraising for qualified and certified investors.
However, I think that China's Supervisory Authority must have his reasons. The social environment in which we live is the necessity and rationality of supervision. The speculative atmosphere in 2017 is particularly strong. The regulatory policy is actually the regulation and restriction of the entire industry. I think it is a very good thing.
The blockchain industry startup companies also have many other financing channels, including so many VCs, so much money, ICO this form I think it may have opportunities in the future, perhaps with the development of society and this kind of supervision This type of perfection will have the opportunity to gradually regulate itself from overseas. In Japan or in the United States, it may be regulated in other forms. China's supervision depends on our national policy. As a practitioner, it is certain that To circumvent the risks of some laws and regulations in this area.
 
Q: Can you tell whether a Token is really better than the company system? Is the token incentive model better than the traditional corporate model? What do you think about the EOS's 21 supernodes? Does absolute decentralization really exist?
 
Patrick Dai: Token and corporate system, this issue is too big, I think I may not answer, but I talk about some of his simple views.
Token itself is a community-driven behavior. The most successful tokens are Bitcoin and Ethereum. Bitcoin and Ethereum were originally released as open source software. Historically, open source parts have not been particularly good. The business model, such as open source software like Unix and many of our programming languages, inventors may have a very high community status, but there is no business model to commercialize their own intelligence and intelligence. Because everything is reproducible.
In fact, like Ethereum, it is a project that combines the power of the community. Of course, Vitalik itself is also very powerful, very far-sighted, very smart, but without the support of the Ethereum community, without the above tens of thousands of projects, without the support of developers around the world, it can not be developed to this day.
Bitcoin is also the same reason. After Nakamoto contributed the first version of the code, it disappeared. The development in the following years actually depends on the help of many communities. There are more than 400 global core developers, and hundreds of core developers from Ethereum globally have maintained such an ecosystem. From this perspective, it shows us at least another model that we humans can cooperate and collaborate with, especially in the software field. This model is not found in the original corporatization system.
Because the corporatization system emphasizes control management, has a good hierarchical structure, and has good instructions for communication and feedback, but the entire community is a flat operation, he is more transparent, more equal, more freedom. This atmosphere may be a direction of change in our future organizational structure. At least bitcoin and Ethereum have set us such a pattern, but for some time this kind of economy based on communityization will certainly continue to develop because it is also a community of interests. Corporateization is also a community of interests. I think these two models may all advance in synchronization.
Regarding the EOS 21 Super Node thing, I think it's mainly about the positioning of the project. Bitcoin’s initial positioning is actually very simple. It needs to be a peer-to-peer e-cash network, so to achieve this goal, we must make the entire system without single points of failure. To achieve absolute equality, any People become a peer node and you have equal rights to get all the information on the network and verify all transactions. Then anyone can participate and there is no threshold.
It is a network without thresholds. The positioning of EOS may be more dedicated to building a distributed application platform in the future. Its starting point may be efficiency and fairness. Centralization and decentralization are negligible. . From the EOS concept, it is more in pursuit of efficiency and the pursuit of how high speed can be achieved every second. However, there are CAP theorem constraints in all distributed networks. The degree of efficiency and decentralization is often an irreconcilable contradiction. This involves trade-offs.
If it is a cryptocurrency that prefers monetary attributes, like Bitcoin, Litecoin, Zcash, these currencies may pursue fairness and justice, including the concept of peer-to-peer networks. If you prefer application-oriented EOS, you may be pursuing efficiency, giving up fairness and justice, and more often through establishing thresholds. This technology of this network is not accessible to anyone. You must vote to become EOS 21 A full node, this is a very high threshold. Just like a bank has 21 branches, it is back to the path of improving efficiency by setting a threshold. I think in the end which path can win, or that they have room for survival at the same time, it takes time to verify.
 
Q: In the early days, Qtum links were actually looking for developers internationally. So far, there are some examples of projects that you think are more potential. Some examples can be cited.
 
Patrick Dai: I have been thinking about the problems of this industry recently. The early accompanied by technological innovations, accompanied by changes in this concept, including a lot of fanaticism and speculation, actually gave birth to the current status of this industry. To calm down and think, in fact, we still have to return to the essence, that is, what blockchain he has provided. I think it is essentially a platform that provides a borderless, low-level settlement that everyone can enter. This is to understand it from the nature of finance.
From the software's point of view, like Bitcoin's more than 10,000 full nodes, like Ethereum, which has more than 20,000 global nodes, it provides a cloud service based on its own protocol formed through a blockchain protocol. This cloud service will change the way software is developed. In the future, developers may not develop apps for Android. He may deploy a few lines of contracts on Ethereum to realize the process that will take a long time to complete the development process. I think this has caused a huge disruption to our entire software industry, because this subversion has occurred in the district. On a blockchain network, all network users can be reached at no cost.
The other one that comes with it is from web2.0 to 3.0, and you don't have to worry about storage bandwidth and networking. For example, the original development, but also rent their own server, and now the contract is deployed on the above, all the world's computers to help you do the calculations, which greatly reduces the developer's own development costs and learning costs, I think this In the long run, there will be great changes in the entire software industry.
In fact, the small program that Xu always talked about is essentially a concept. A smart contract is a very, very small program. Some functional programs, and those projects that are promising, are in the field of digital content. Because it's all digital, it's consistent with the spirit of this digital blockchain network, and if these places can be combined with the blockchain network, it will bring us a lot of unexpected things. Some business models.
For example, the simplest filmmakers may be able to distribute the film directly through the Internet. All channels, including documents, may have new formats. For example, there is a format that merges with payment channels. You realize this real-time payment while watching movies. I think this emerging data flow distribution and payment The integration of the stream will bring about great changes to all of our digital content. This direction takes a long time to accumulate. But I think that the entire blockchain does have a huge impact from the perspective of finance or the software industry.
 
Q: There are many users who were all like me, and because now is a bear market, everyone may not have a good attitude. Please give us some advice, how to spend a bear market, or we should be in this big market. How to do it?
 
Patrick Dai: The development of the industry is certainly cyclical. Individuals still have to build a relatively complete knowledge system and critically receive information. Every day, everybody comes in contact with countless information. However, the final judgment of this value must come from its own independent judgment. This is very important.
I can feel the big difference between domestic and overseas. Because they often travel overseas, they will relatively rationally view the development of the whole thing. It may be that Americans do not have such a large amount of cash reserves to invest in cryptocurrency assets, such as 1% of personal asset allocation. The maximum is 2%, 3%, and probably no more than 10%. So for this it may be easier to look at it from a technical perspective or from a long-term perspective.
Then I think that from the individual as an ordinary user to participate in this industry, it is best not to exceed 5% of their assets, which is a more reasonable level, and then to see how the industry in the end develop.
Another point is that we must constantly understand some new technologies and new knowledge emerging in this industry, whether it is entrepreneurs or the media, or participants from all walks of life. Because in the early stage of this industry, everyone's opinions are also inconsistent, and it is more necessary to look at the development of this industry with an inclusive attitude. The attitude of being inclusive and prudent in participating in the project means that for ordinary people, there is no need to participate in these high-risk projects. I personally think so.
However, we very much hope that the media will have more independent research, independent thinking, not being able to report on something, and being able to independently see the good side and the bad side of some industries. The best article I have read was written by a reporter from the New York Times. He mentioned that the blockchain may be a path to the return of the Internet. The article probably has 50,000 words in its entirety. I think that's the best written article in the industry that I have seen. I have never seen such an article in China.
From this perspective, I think we need to really be able to use the so-called clear source and to educate users. I think there are so many things that need to be done, technical, policy, and business. Then I will discuss it. I think this is a A long way.
 
Credit:雪糕
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