6 Best Bitcoin Mining Hardware ASICs Comparison In 2017

AMD Threadripper 3970x - My adventure so far (Will edit as I go)

I own a gaming community called Unknown Skies gaming (For a little Context) and we are planning a server upgrade. Currently we have a Dell R620 with Dual E5-2690 V2's Running @ 3.3Ghz, has 196GB Ram. The game we host on this rig is called Empyrion Galactic Survival.
The reason for the upgrade is currently the server just isnt high end enough to continue supporting our target playerbase of 100 players, and Performance has dipped due to the game being alpha and the devs are not doing much to improve server side efficiency. Back in 7.0 we could host 150 players on this machine, now it struggles with 60... Yeah big change in 2 years.
After a lot of research... I can clearly see Intel Xeon Gold 6154 CPUs (2 of them) do not outperform even the R9 3950x according to passmark. The price of these used intel servers is stunningly high on the used market... Dual 18 Core XG 6154 Processors with 128gb ram (Dell R740 I think, feel free to correct me) cost right around 10,000$ USD Used give or take 1000$ or so... And get stomped on by an 800$ Single Socket CPU... Thats new and has a warranty... I get that it doesnt support as much memory... But Dang...
So I looked into threadripper... HOLY SHAT!! The 3970x hits 60k+ in passmark... And the ENTIRE system with a custom cooling loop is less than 6 Grand? Thats nuts to me! Amazing Deal! Im sad all my servers and rigs are intel hahahahaha.
What we need, What im aiming for, and my thought process - Feel free to leave thoughts and suggestions..
AMD Threadripper 3970x (Because High Per thread throughput matters due to shit code, and more players on a playfield means more cpu usage on that thread, Lots of threads matter as every playfield opens a new PlayfieldServer.exe and is its own instance so the more spread out players are, the more cores you need to spread out workload. 32 cores 64 threads... NICE)
Corsair Vengeance LPX 256 GB (8 x 32 GB) DDR4-3200 Memory (Each player uses around 1-3gb ram, 2 on average, goal was 100 Players)
ASRock TRX40 TAICHI ATX sTRX4 Motherboard (Thought this was a solid selection given the options I saw)
EVGA 1000 W 80+ Gold Certified Semi-modular ATX Power Supply SHOULD be sufficient with a closed loop water cooler, all SSD's and not requiring a gaming GPU (Plan on a 1050ti / 1050 at most)
Case im using is a modified 4U rackmount case with 3x 120mm fans going in the front, radiator behind those. Could NOT find one that I didnt have to modify. Went with El-cheapo option cause imma be drilling it and modding it internally - Rosewill Server Chassis Server Case Rackmount Case for Bitcoin Mining 4U off ebay I think it will work, and if not I have a file server that would LOVE the home LMAO. So it was well worth the Chance.
Water cooling Solution I settled on was a Thermaltake Floe TR4 Edition. I thought about using a Custom Cooling loop, but by the time I priced everything out the way I would do it... It came out to like 500$ ish LMAO. The above cooler From what I can tell should be sufficient, and should fit in the case i chose. Tight fit, but should fit.
Im excitedly looking forward to the build :) Anyone have any experience with any of this and care to chime in?
submitted by Chilimeat to Amd [link] [comments]

Selling off my bitcoin mining rig

Selling off my bitcoin miner rigs. Decided I can’t afford it with electricity being .45/kw here.



Im selling



2 asus B250 mining expert motherboards. 1 new one used.

1 used H110 pro btc motherboard (used)

******note I had an issue with this motherboard so it may be bad. POSSIBLY NOT but might be. Take this into consideration when bidding.***************

1 asus 990fx sabertooth motherboard with 32gb ram.(see image) has a cpu included however I don’t remember which one it was. At the time it was for a gaming PC so it should be decent.

2 8 GPU all aluminum open air frames

2 6 GPU all aluminum open air frames

2 intel g3930 2.9ghz cpus. 1 new 1 used

14 120mm black fans including 2 fan hubs 1 for each machine

20 PCI risers (multiple manufacturers)





I have it listed for 450 OBO. GOOD DEAL I THINK. Message me for questions

https://www.ebay.com/itm/133302526663
submitted by Heiridum to BitcoinMining [link] [comments]

2019 in Review: Community, Crime, Courtcases, Craig & Consolidation

2019 in Review: Community, Crime, Courtcases, Craig & Consolidation

https://preview.redd.it/r7dmpveldia41.png?width=680&format=png&auto=webp&s=f7dc87d5b58c4391d3e04359c4dc111d771246a1
2019 has been a tumultuous but amazing year for the development and advancement of blockchain technology. Following the rally to the all-time-highs at the end of 2017 and the intense infrastructure development and ongoing Bear Market of 2018 it was clear things were changing quickly. We are about to enter a new decase and the team at Aelf wanted to look back at 2019 and reflect on some of the events that occurred over the last year to see where the industry might be headed in 2020.

https://preview.redd.it/tccwloemdia41.png?width=384&format=png&auto=webp&s=3c9feac47c8e8accc602dee7e738df86facc3e2e
Although the year has been considered a continuation of the 2018 bear market, it didn’t stop development, progression and a myriad of crazy events from occurring. This included the challenges associated with global regulations, the upcoming Bitcoin halving event in May 2020, announcement of the Facebook Libra and Telegram Open Network’s (TON) launch delay. This year also saw a myriad of debacles from self-proclaimed Bitcoin creator Craig Wright, the Justin Sun and Warren Buffet lunch situation, the recent claim of Twitter CEO Jack Dorsey’s goal to modify Twitter into a decentralized version of the platform, and President Trump’s Bitcoin statement, among others. Now let’s examine more of what took place during 2019 as we approach the start of the New Year in 2020.
The SEC, Telegram, Facebook Libra, Kik and Blockchain’s Global Regulatory Environment
Many of the world’s governments have been harsh towards blockchain technology in recent years. Particularly, the US Government and the Securities and Exchange Commission (SEC) have been very reluctant to ease the regulatory framework for blockchain development in the country. This has become more evident in 2019, with the SEC combatting many blockchain projects this year including the $1.7 billion-dollar token offering of the Telegram Open Network
and the Facebook Libra project. As well the SEC created controversy in a gruesome battle with Kik over its alleged illegal token offering that Kik has sworn to fight to their last breath.

https://preview.redd.it/6yngxxfndia41.png?width=614&format=png&auto=webp&s=dc363d1a2225f461bad20786e8439e7cc3896d7d
Many proponents of blockchain technology accuse the SEC of unfair policies to put a stranglehold on the development on blockchain in order to prevent the devaluation of the American monetary system. The reluctance for crypto exchanges to set up shop in the US is also becoming more prevalent because of the supposedly biased and unfavourable approach of the SEC. Nevertheless, there are also several major countries including China that have for the most part embraced the advancement of blockchain technology in 2019. China has also nearly finalized the development of the digital Chinese Yuan and announced that that country is going all in on blockchain development despite its sometimes anti-Bitcoin approach.
The Bitcoin Halving Event and its Ongoing Effect on Market Conditions
With the end of 2019 nearly upon us and the upcoming Bitcoin halving event set to take place during May of 2020 the market could be overdue for a bull market of mass proportions. Remember, the last bull market that took place was 2 years ago during December 2017 and was followed by an incredible dump from the all-time-high price of 20 thousand US Dollars to just 3300 USD in December 2018. For the most part, 2018 was a blood-bath for crypto markets and 2019 has not been all that much better. The price did briefly rally up to 14 thousand US Dollars during mid 2019 but has since been reduce by half with the Bitcoin price presently at just over 7000 US Dollars. Bitcoin was designed by its original creators with code written to mitigate the negative effects of inflation. In order to curb inflation, once every 4 years (or 210,000 blocks) the mining rewards that the network automatically generates are reduced in half.

https://preview.redd.it/xuthhfiodia41.png?width=819&format=png&auto=webp&s=2cc8cbc7452d4aadb5076530915acfd5e755735a
3 Additional Stories to Watch in 2020
In June, the CEO of Tron, Justin Sun purchased tickets through eBay for a charity auction to have lunch with Warren Buffet. Sun paid a record $4.56 million US Dollars in the process becoming the highest bid in the 20-year history of the event. The purpose of the lunch from Sun’s standpoint is to change Mr. Buffet’s viewpoint towards crypto and blockchain tech by inviting several blockchain industry leaders to help sway the famous investor’s perspective. Sun subsequently missed the lunch he scheduled in September because of a sudden bout with kidney stones. At this time, the community will have to wait and see when Sun and Buffet will meet in 2020. Stay tuned.
Back in December of 2015, Craig Wright claimed publicly to be the creator of Bitcoin, Satoshi Nakamoto. Most believe Wright was lying to gain more fame and recognition in the industry. On November 18th, 2018 Bitcoin SV hard forked from the Bitcoin Cash Network to create it own chain. As noted above, the disgruntled CEO of Bitcoin SV, has for years maintained he led the initial development of Bitcoin. During February 2018, Wright was the subject of a 5.118-Billion-dollar lawsuit by Dave Kleiman claiming that Wright defrauded Kleiman of Bitcoin while working on the initial development of the Bitcoin Network between 2009 and 2013. In August 2019, Wright was ordered by a court of law to pay half the 5.11 Billion in Bitcoin back to Kleiman. Throughout 2019, Wright launched lawsuits against Ethereum founder Vitalik Buterin, Bitcoin Cash’s Roger Ver and others for calling him a fraud. It seems likely Wright will continue his ongoing Satoshi rhetoric in 2020.

https://preview.redd.it/l977df8qdia41.png?width=547&format=png&auto=webp&s=f52d70a3c852b920ae665c8b5770a74cd8dadabe
The CEO of Twitter, Jack Dorsey recently stated that he has hired 5 full-time employees to modify the Twitter platform and make it increasingly decentralized. This may seem like a small step initially, but this project could be expanded easily by someone of Dorsey’s reputation and wealth in the technology industry. Dorsey himself has been a long-term proponent of blockchain technology and an investor in Bitcoin. Binance CEO, Changpeng Zhao, recently offered to help Dorsey make this dream come to fruition. Additionally, Morgan Creek Capital founder Anthony Pompliano supported Dorsey’s statement noting that, “Jack Dorsey may understand the future better than any entrepreneur on the planet right now.”
Conclusion
This year we saw Kik, Telegram and Facebook Libra face fierce backlash from the most powerful regulatory body in the world, the SEC. We saw the Chinese government announce that they are all in on blockchain development and declare the upcoming launch of their own centralized digital Chinese Yuan. Justin Sun postponed his 4.56-million-dollar lunch with billionaire investor Warren Buffet because of health issues, while Jack Dorsey the CEO of Twitter proclaimed a more decentralized and open version of Twitter to prevent some of the abuse on the platform.
In 2019, the 4-year long Craig Wright and Satoshi Nakamoto saga continued, and we finally are moving closer to the much-anticipated Bitcoin halving event of May 2020 that could change the trajectory of the Bitcoin price for much of 2020 and 2021. It is clear 2019 has been an incredible year for the blockchain industry. With no shortage of uncertainty and scepticism in the short-term, it is likely that 2019 will pale in comparison to the developments of 2020. As we approach 2020, the industry will continue to expand towards mass adoption and the mainstream evolution of blockchain technology. Nevertheless, with the global regulatory blockchain environment evolving in many areas across the world, the uncertainty in the United States remains stronger than ever. There is no telling what will happen in this regard and what will happen with Bitcoin and this amazing revolution in 2020 and beyond.
Merry Christmas and Happy Holidays from the Aelf Blockchain team and a Happy 2020 to all our community members!! Thank You
submitted by Floris-Jan to aelfofficial [link] [comments]

Which are your Top 5 favourite coins out of the Top 100? An analysis.

I am putting together my investment portfolio for 2018 and made a complete summary of the current Top 100. Interestingly, I noticed that all coins can be categorized into 12 markets. Which markets do you think will play the biggest role in the coming year?
Here is a complete overview of all coins in an excel sheet including name, market, TPS, risk profile, time since launch (negative numbers mean that they are launching that many months in the future) and market cap. You can also sort by all of these fields of course. Coins written in bold are the strongest contenders within their market either due to having the best technology or having a small market cap and still excellent technology and potential. https://docs.google.com/spreadsheets/d/1s8PHcNvvjuy848q18py_CGcu8elRGQAUIf86EYh4QZo/edit#gid=0
The 12 markets are
  1. Currency 13 coins
  2. Platform 25 coins
  3. Ecosystem 9 coins
  4. Privacy 10 coins
  5. Currency Exchange Tool 8 coins
  6. Gaming & Gambling 5 coins
  7. Misc 15 coins
  8. Social Network 4 coins
  9. Fee Token 3 coins
  10. Decentralized Data Storage 4 coins
  11. Cloud Computing 3 coins
  12. Stable Coin 2 coins
Before we look at the individual markets, we need to take a look of the overall market and its biggest issue scalability first:
Cryptocurrencies aim to be a decentralized currency that can be used worldwide. Its goal is to replace dollar, Euro, Yen, all FIAT currencies worldwide. The coin that will achieve that will be worth several trillion dollars.
Bitcoin can only process 7 transactions per second (TPS). In order to replace all FIAT, it would need to perform at at least VISA levels, which usually processes around 3,000 TPS, up to 25,000 TPS during peak times and a maximum of 64,000 TPS. That means that this cryptocurrency would need to be able to perform at least several thousand TPS. However, a ground breaking technology should not look at current technology to set a goal for its use, i.e. estimating the number of emails sent in 1990 based on the number of faxes sent wasn’t a good estimate.
For that reason, 10,000 TPS is the absolute baseline for a cryptocurrency that wants to replace FIAT. This brings me to IOTA, which wants to connect all 80 billion IoT devices that are expected to exist by 2025, which constantly communicate with each other, creating 80 billion or more transactions per second. This is the benchmark that cryptocurrencies should be aiming for. Currently, 8 billion devices are connected to the Internet.
With its Lightning network recently launched, Bitcoin is realistically looking at 50,000 possible soon. Other notable cryptocurrencies besides IOTA and Bitcoin are Nano with 7,000 TPS already tested, Dash with several billion TPS possible with Masternodes, Neo, LISK and RHOC with 100,000 TPS by 2020, Ripple with 50,000 TPS, Ethereum with 10,000 with Sharding.
However, it needs to be said that scalability usually goes at the cost of decentralization and security. So, it needs to be seen, which of these technologies can prove itself resilient and performant.
Without further ado, here are the coins of the first market

Market 1 - Currency:

  1. Bitcoin: 1st generation blockchain with currently bad scalability currently, though the implementation of the Lightning Network looks promising and could alleviate most scalability concerns, scalability and high energy use.
  2. Ripple: Centralized currency that might become very successful due to tight involvement with banks and cross-border payments for financial institutions; banks and companies like Western Union and Moneygram (who they are currently working with) as customers customers. However, it seems they are aiming for more decentralization now.https://ripple.com/dev-blog/decentralization-strategy-update/. Has high TPS due to Proof of Correctness algorithm.
  3. Bitcoin Cash: Bitcoin fork with the difference of having an 8 times bigger block size, making it 8 times more scalable than Bitcoin currently. Further block size increases are planned. Only significant difference is bigger block size while big blocks lead to further problems that don't seem to do well beyond a few thousand TPS. Opponents to a block size argue that increasing the block size limit is unimaginative, offers only temporary relief, and damages decentralization by increasing costs of participation. In order to preserve decentralization, system requirements to participate should be kept low. To understand this, consider an extreme example: very big blocks (1GB+) would require data center level resources to validate the blockchain. This would preclude all but the wealthiest individuals from participating.Community seems more open than Bitcoin's though.
  4. Litecoin : Little brother of Bitcoin. Bitcoin fork with different mining algorithm but not much else.Copies everything that Bitcoin does pretty much. Lack of real innovation.
  5. Dash: Dash (Digital Cash) is a fork of Bitcoin and focuses on user ease. It has very fast transactions within seconds, low fees and uses Proof of Service from Masternodes for consensus. They are currently building a system called Evolution which will allow users to send money using usernames and merchants will find it easy to integrate Dash using the API. You could say Dash is trying to be a PayPal of cryptocurrencies. Currently, cryptocurrencies must choose between decentralization, speed, scalability and can pick only 2. With Masternodes, Dash picked speed and scalability at some cost of decentralization, since with Masternodes the voting power is shifted towards Masternodes, which are run by Dash users who own the most Dash.
  6. IOTA: 3rd generation blockchain called Tangle, which has a high scalability, no fees and instant transactions. IOTA aims to be the connective layer between all 80 billion IOT devices that are expected to be connected to the Internet in 2025, possibly creating 80 billion transactions per second or 800 billion TPS, who knows. However, it needs to be seen if the Tangle can keep up with this scalability and iron out its security issues that have not yet been completely resolved.
  7. Nano: 3rd generation blockchain called Block Lattice with high scalability, no fees and instant transactions. Unlike IOTA, Nano only wants to be a payment processor and nothing else, for now at least. With Nano, every user has their own blockchain and has to perform a small amount of computing for each transaction, which makes Nano perform at 300 TPS with no problems and 7,000 TPS have also been tested successfully. Very promising 3rd gen technology and strong focus on only being the fastest currency without trying to be everything.
  8. Decred: As mining operations have grown, Bitcoin’s decision-making process has become more centralized, with the largest mining companies holding large amounts of power over the Bitcoin improvement process. Decred focuses heavily on decentralization with their PoW Pos hybrid governance system to become what Bitcoin was set out to be. They will soon implement the Lightning Network to scale up. While there do not seem to be more differences to Bitcoin besides the novel hybrid consensus algorithm, which Ethereum, Aeternity and Bitcoin Atom are also implementing, the welcoming and positive Decred community and professoinal team add another level of potential to the coin.
  9. Aeternity: We’ve seen recently, that it’s difficult to scale the execution of smart contracts on the blockchain. Crypto Kitties is a great example. Something as simple as creating and trading unique assets on Ethereum bogged the network down when transaction volume soared. Ethereum and Zilliqa address this problem with Sharding. Aeternity focuses on increasing the scalability of smart contracts and dapps by moving smart contracts off-chain. Instead of running on the blockchain, smart contracts on Aeternity run in private state channels between the parties involved in the contracts. State channels are lines of communication between parties in a smart contract. They don’t touch the blockchain unless they need to for adjudication or transfer of value. Because they’re off-chain, state channel contracts can operate much more efficiently. They don’t need to pay the network for every time they compute and can also operate with greater privacy. An important aspect of smart contract and dapp development is access to outside data sources. This could mean checking the weather in London, score of a football game, or price of gold. Oracles provide access to data hosted outside the blockchain. In many blockchain projects, oracles represent a security risk and potential point of failure, since they tend to be singular, centralized data streams. Aeternity proposes decentralizing oracles with their oracle machine. Doing so would make outside data immutable and unchangeable once it reaches Aeternity’s blockchain. Of course, the data source could still be hacked, so Aeternity implements a prediction market where users can bet on the accuracy and honesty of incoming data from various oracles.It also uses prediction markets for various voting and verification purposes within the platform. Aeternity’s network runs on on a hybrid of proof of work and proof of stake. Founded by a long-time crypto-enthusiast and early colleague of Vitalik Buterin, Yanislav Malahov. Promising concept though not product yet
  10. Bitcoin Atom: Atomic Swaps and hybrid consenus. This looks like the only Bitcoin clone that actually is looking to innovate next to Bitcoin Cash.
  11. Dogecoin: Litecoin fork, fantastic community, though lagging behind a bit in technology.
  12. Bitcoin Gold: A bit better security than bitcoin through ASIC resistant algorithm, but that's it. Not that interesting.
  13. Digibyte: Digibyte's PoS blockchain is spread over a 100,000+ servers, phones, computers, and nodes across the globe, aiming for the ultimate level of decentralization. DigiByte rebalances the load between the five mining algorithms by adjusting the difficulty of each so one algorithm doesn’t become dominant. The algorithm's asymmetric difficulty has gained notoriety and been deployed in many other blockchains.DigiByte’s adoption over the past four years has been slow. It’s still a relatively obscure currency compared its competitors. The DigiByte website offers a lot of great marketing copy and buzzwords. However, there’s not much technical information about what they have planned for the future. You could say Digibyte is like Bitcoin, but with shorter blocktimes and a multi-algorithm. However, that's not really a difference big enough to truly set themselves apart from Bitcoin, since these technologies could be implemented by any blockchain without much difficulty. Their decentralization is probably their strongest asset, however, this also change quickly if the currency takes off and big miners decide to go into Digibyte.
  14. Bitcoin Diamond Asic resistant Bitcoin and Copycat

Market 2 - Platform

Most of the cryptos here have smart contracts and allow dapps (Decentralized apps) to be build on their platform and to use their token as an exchange of value between dapp services.
  1. Ethereum: 2nd generation blockchain that allows the use of smart contracts. Bad scalability currently, though this concern could be alleviated by the soon to be implemented Lightning Network aka Plasma and its Sharding concept.
  2. EOS: Promising technology that wants to be able do everything, from smart contracts like Ethereum, scalability similar to Nano with 1000 tx/second + near instant transactions and zero fees, to also wanting to be a platform for dapps. However, EOS doesn't have a product yet and everything is just promises still. Highly overvalued right now. However, there are lots of red flags, have dumped $500 million Ether over the last 2 months and possibly bought back EOS to increase the size of their ICO, which has been going on for over a year and has raised several billion dollars. All in all, their market cap is way too high for that and not even having a product.
  3. Cardano: Similar to Ethereum/EOS, however, only promises made with no delivery yet, highly overrated right now. Interesting concept though. Market cap way too high for not even having a product. Somewhat promising technology.
  4. VeChain: Singapore-based project that’s building a business enterprise platform and inventory tracking system. Examples are verifying genuine luxury goods and food supply chains. Has one of the strongest communities in the crypto world. Most hyped token of all, with merit though.
  5. Neo: Neo is a platform, similar to Eth, but more extensive, allowing dapps and smart contracts, but with a different smart contract gas system, consensus mechanism (PoS vs. dBfT), governance model, fixed vs unfixed supply, expensive contracts vs nearly free contracts, different ideologies for real world adoption. There are currently only 9 nodes, each of which are being run by a company/entity hand selected by the NEO council (most of which are located in china) and are under contract. This means that although the locations of the nodes may differ, ultimately the neo council can bring them down due to their legal contracts. In fact this has been done in the past when the neo council was moving 50 million neo that had been locked up. Also dbft (or neo's implmentation of it) has failed underload causing network outages during major icos. The first step in decentralization is that the NEO Counsel will select trusted nodes (Universities, business partners, etc.) and slowly become less centralized that way. The final step in decentralization will be allowing NEO holders to vote for new nodes, similar to a DPoS system (ARK/EOS/LISK). NEO has a regulation/government friendly ideology. Finally they are trying to work undewith the Chinese government in regards to regulations. If for some reason they wanted it shut down, they could just shut it down.
  6. Stellar: PoS system, similar goals as Ripple, but more of a platform than only a currency. 80% of Stellar are owned by Stellar.org still, making the currency centralized.
  7. Ethereum classic: Original Ethereum that decided not to fork after a hack. The Ethereum that we know is its fork. Uninteresing, because it has a lot of less resources than Ethereum now and a lot less community support.
  8. Ziliqa: Zilliqa is building a new way of sharding. 2400 tpx already tested, 10,000 tps soon possible by being linearly scalable with the number of nodes. That means, the more nodes, the faster the network gets. They are looking at implementing privacy as well.
  9. QTUM: Enables Smart contracts on the Bitcoin blockchain. Useful.
  10. Icon: Korean ethereum. Decentralized application platform that's building communities in partnership with banks, insurance providers, hospitals, and universities. Focused on ID verification and payments. No big differentiators to the other 20 Ethereums, except that is has a product. That is a plus. Maybe cheap alternative to Ethereum.
  11. LISK: Lisk's difference to other BaaS is that side chains are independent to the main chain and have to have their own nodes. Similar to neo whole allows dapps to deploy their blockchain to. However, Lisk is currently somewhat centralized with a small group of members owning more than 50% of the delegated positions. Lisk plans to change the consensus algorithm for that reason in the near future.
  12. Rchain: Similar to Ethereum with smart contract, though much more scalable at an expected 40,000 TPS and possible 100,000 TPS. Not launched yet. No product launched yet, though promising technology. Not overvalued, probably at the right price right now.
  13. ARDR: Similar to Lisk. Ardor is a public blockchain platform that will allow people to utilize the blockchain technology of Nxt through the use of child chains. A child chain, which is a ‘light’ blockchain that can be customized to a certain extent, is designed to allow easy self-deploy for your own blockchain. Nxt claims that users will "not need to worry" about security, as that part is now handled by the main chain (Ardor). This is the chief innovation of Ardor. Ardor was evolved from NXT by the same company. NEM started as a NXT clone.
  14. Ontology: Similar to Neo. Interesting coin
  15. Bytom: Bytom is an interactive protocol of multiple byte assets. Heterogeneous byte-assets (indigenous digital currency, digital assets) that operate in different forms on the Bytom Blockchain and atomic assets (warrants, securities, dividends, bonds, intelligence information, forecasting information and other information that exist in the physical world) can be registered, exchanged, gambled and engaged in other more complicated and contract-based interoperations via Bytom.
  16. Nxt: Similar to Lisk
  17. Stratis: Different to LISK, Stratis will allow businesses and organizations to create their own blockchain according to their own needs, but secured on the parent Stratis chain. Stratis’s simple interface will allow organizations to quickly and easily deploy and/or test blockchain functionality of the Ethereum, BitShares, BitCoin, Lisk and Stratis environements.
  18. Status: Status provides access to all of Ethereum’s decentralized applications (dapps) through an app on your smartphone. It opens the door to mass adoption of Ethereum dapps by targeting the fastest growing computer segment in the world – smartphone users.16. Ark: Fork of Lisk that focuses on a smaller feature set. Ark wallets can only vote for one delegate at a time which forces delegates to compete against each other and makes cartel formations incredibly hard, if not impossible.
  19. Neblio: Similar to Neo, but 30x smaller market cap.
  20. NEM: Is similar to Neo No marketing team, very high market cap for little clarilty what they do.
  21. Bancor: Bancor is a Decentralized Liquidity Network that allows you to hold any Ethereum token and convert it to any other token in the network, with no counter party, at an automatically calculated price, using a simple web wallet.
  22. Dragonchain: The Purpose of DragonChain is to help companies quickly and easily incorporate blockchain into their business applications. Many companies might be interested in making this transition because of the benefits associated with serving clients over a blockchain – increased efficiency and security for transactions, a reduction of costs from eliminating potential fraud and scams, etc.
  23. Skycoin: Transactions with zero fees that take apparently two seconds, unlimited transaction rate, no need for miners and block rewards, low power usage, all of the usual cryptocurrency technical vulnerabilities fixed, a consensus mechanism superior to anything that exists, resistant to all conceivable threats (government censorship, community infighting, cybenucleaconventional warfare, etc). Skycoin has their own consensus algorithm known as Obelisk written and published academically by an early developer of Ethereum. Obelisk is a non-energy intensive consensus algorithm based on a concept called ‘web of trust dynamics’ which is completely different to PoW, PoS, and their derivatives. Skywire, the flagship application of Skycoin, has the ambitious goal of decentralizing the internet at the hardware level and is about to begin the testnet in April. However, this is just one of the many facets of the Skycoin ecosystem. Skywire will not only provide decentralized bandwidth but also storage and computation, completing the holy trinity of commodities essential for the new internet. Skycion a smear campaign launched against it, though they seem legit and reliable. Thus, they are probably undervalued.

Market 3 - Ecosystem

The 3rd market with 11 coins is comprised of ecosystem coins, which aim to strengthen the ease of use within the crypto space through decentralized exchanges, open standards for apps and more
  1. Nebulas: Similar to how Google indexes webpages Nebulas will index blockchain projects, smart contracts & data using the Nebulas rank algorithm that sifts & sorts the data. Developers rewarded NAS to develop & deploy on NAS chain. Nebulas calls this developer incentive protocol – basically rewards are issued based on how often dapp/contract etc. is used, the more the better the rewards and Proof of devotion. Works like DPoS except the best, most economically incentivised developers (Bookkeeppers) get the forging spots. Ensuring brains stay with the project (Cross between PoI & PoS). 2,400 TPS+, DAG used to solve the inter-transaction dependencies in the PEE (Parallel Execution Environment) feature, first crypto Wallet that supports the Lightening Network.
  2. Waves: Decentralized exchange and crowdfunding platform. Let’s companies and projects to issue and manage their own digital coin tokens to raise money.
  3. Salt: Leveraging blockchain assets to secure cash loands. Plans to offer cash loans in traditional currencies, backed by your cryptocurrency assets. Allows lenders worldwide to skip credit checks for easier access to affordable loans.
  4. CHAINLINK: ChainLink is a decentralized oracle service, the first of its kind. Oracles are defined as an ‘agent’ that finds and verifies real-world occurrences and submits this information to a blockchain to be used in smart contracts.With ChainLink, smart contract users can use the network’s oracles to retrieve data from off-chain application program interfaces (APIs), data pools, and other resources and integrate them into the blockchain and smart contracts. Basically, ChainLink takes information that is external to blockchain applications and puts it on-chain. The difference to Aeternity is that Chainlink deploys the smart contracts on the Ethereum blockchain while Aeternity has its own chain.
  5. WTC: Combines blockchain with IoT to create a management system for supply chains Interesting
  6. Ethos unifyies all cryptos. Ethos is building a multi-cryptocurrency phone wallet. The team is also building an investment diversification tool and a social network
  7. Aion: Aion is the token that pays for services on the Aeternity platform.
  8. USDT: is no cryptocurrency really, but a replacement for dollar for trading After months of asking for proof of dollar backing, still no response from Tether.

Market 4 - Privacy

The 4th market are privacy coins. As you might know, Bitcoin is not anonymous. If the IRS or any other party asks an exchange who is the identity behind a specific Bitcoin address, they know who you are and can track back almost all of the Bitcoin transactions you have ever made and all your account balances. Privacy coins aim to prevent exactly that through address fungability, which changes addresses constantly, IP obfuscation and more. There are 2 types of privacy coins, one with completely privacy and one with optional privacy. Optional Privacy coins like Dash and Nav have the advantage of more user friendliness over completely privacy coins such as Monero and Enigma.
  1. Monero: Currently most popular privacy coin, though with a very high market cap. Since their privacy is all on chain, all prior transactions would be deanonymized if their protocol is ever cracked. This requires a quantum computing attack though. PIVX is better in that regard.
  2. Zcash: A decentralized and open-source cryptocurrency that hide the sender, recipient, and value of transactions. Offers users the option to make transactions public later for auditing. Decent privacy coin, though no default privacy
  3. Verge: Calls itself privacy coin without providing private transactions, multiple problems over the last weeks has a toxic community, and way too much hype for what they have.
  4. Bytecoin: First privacy-focused cryptocurrency with anonymous transactions. Bytecoin’s code was later adapted to create Monero, the more well-known anonymous cryptocurrency. Has several scam accusations, 80% pre-mine, bad devs, bad tech
  5. Bitcoin Private: A merge fork of Bitcoin and Zclassic with Zclassic being a fork of Zcash with the difference of a lack of a founders fee required to mine a valid block. This promotes a fair distribution, preventing centralized coin ownership and control. Bitcoin private offers the optional ability to keep the sender, receiver, and amount private in a given transaction. However, this is already offered by several good privacy coins (Monero, PIVX) and Bitcoin private doesn't offer much more beyond this.
  6. Komodo: The Komodo blockchain platform uses Komodo’s open-source cryptocurrency for doing transparent, anonymous, private, and fungible transactions. They are then made ultra-secure using Bitcoin’s blockchain via a Delayed Proof of Work (dPoW) protocol and decentralized crowdfunding (ICO) platform to remove middlemen from project funding. Offers services for startups to create and manage their own Blockchains.
  7. PIVX: As a fork of Dash, PIVX uses an advanced implementation of the Zerocoin protocol to provide it’s privacy. This is a form of zeroknowledge proofs, which allow users to spend ‘Zerocoins’ that have no link back to them. Unlike Zcash u have denominations in PIVX, so they can’t track users by their payment amount being equal to the amount of ‘minted’ coins, because everyone uses the same denominations. PIVX is also implementing Bulletproofs, just like Monero, and this will take care of arguably the biggest weakness of zeroknowledge protocols: the trusted setup.
  8. Zcoin: PoW cryptocurrency. Private financial transactions, enabled by the Zerocoin Protocol. Zcoin is the first full implementation of the Zerocoin Protocol, which allows users to have complete privacy via Zero-Knowledge cryptographic proofs.
  9. Enigma: Monero is to Bitcoin what enigma is to Ethereum. Enigma is for making the data used in smart contracts private. More of a platform for dapps than a currency like Monero. Very promising.
  10. Navcoin: Like bitcoin but with added privacy and pos and 1,170 tps, but only because of very short 30 second block times. Though, privacy is optional, but aims to be more user friendly than Monero. However, doesn't really decide if it wants to be a privacy coin or not. Same as Zcash.Strong technology, non-shady team.
  11. Tenx: Raised 80 million, offers cryptocurrency-linked credit cards that let you spend virtual money in real life. Developing a series of payment platforms to make spending cryptocurrency easier. However, the question is if full privacy coins will be hindered in growth through government regulations and optional privacy coins will become more successful through ease of use and no regulatory hindrance.

Market 5 - Currency Exchange Tool

Due to the sheer number of different cryptocurrencies, exchanging one currency for the other it still cumbersome. Further, merchants don’t want to deal with overcluttered options of accepting cryptocurrencies. This is where exchange tool like Req come in, which allow easy and simple exchange of currencies.
  1. Cryptonex: Fiat and currency exchange between various blockchain services, similar to REQ.
  2. QASH: Qash is used to fuel its liquid platform which will be an exchange that will distribute their liquidity pool. Its product, the Worldbook is a multi-exchange order book that matches crypto to crypto, and crypto to fiat and the reverse across all currencies. E.g., someone is selling Bitcoin is USD on exchange1 not owned by Quoine and someone is buying Bitcoin in EURO on exchange 2 not owned by Quoine. If the forex conversions and crypto conversions match then the trade will go through and the Worldbook will match it, it'll make the sale and the purchase on either exchange and each user will get what they wanted, which means exchanges with lower liquidity if they join the Worldbook will be able to fill orders and take trade fees they otherwise would miss out on.They turned it on to test it a few months ago for an hour or so and their exchange was the top exchange in the world by 4x volume for the day because all Worldbook trades ran through it. Binance wants BNB to be used on their one exchange. Qash wants their QASH token embedded in all of their partners. More info here https://www.reddit.com/CryptoCurrency/comments/8a8lnwhich_are_your_top_5_favourite_coins_out_of_the/dwyjcbb/?context=3
  3. Kyber: network Exchange between cryptocurrencies, similar to REQ. Features automatic coin conversions for payments. Also offers payment tools for developers and a cryptocurrency wallet.
  4. Achain: Building a boundless blockchain world like Req .
  5. Req: Exchange between cryptocurrencies.
  6. Bitshares: Exchange between cryptocurrencies. Noteworthy are the 1.5 second average block times and throughput potential of 100,000 transactions per second with currently 2,400 TPS having been proven. However, bitshares had several Scam accusations in the past.
  7. Loopring: A protocol that will enable higher liquidity between exchanges and personal wallets.
  8. ZRX: Open standard for dapps. Open, permissionless protocol allowing for ERC20 tokens to be traded on the Ethereum blockchain. In 0x protocol, orders are transported off-chain, massively reducing gas costs and eliminating blockchain bloat. Relayers help broadcast orders and collect a fee each time they facilitate a trade. Anyone can build a relayer.

Market 6 - Gaming

With an industry size of $108B worldwide, Gaming is one of the largest markets in the world. For sure, cryptocurrencies will want to have a share of that pie.
  1. Storm: Mobile game currency on a platform with 9 million players.
  2. Fun: A platform for casino operators to host trustless, provably-fair gambling through the use of smart contracts, as well as creating their own implementation of state channels for scalability.
  3. Electroneum: Mobile game currency They have lots of technical problems, such as several 51% attacks
  4. Wax: Marketplace to trade in-game items

Market 7 - Misc

There are various markets being tapped right now. They are all summed up under misc.
  1. OMG: Omise is designed to enable financial services for people without bank accounts. It works worldwide and with both traditional money and cryptocurrencies.
  2. Power ledger: Australian blockchain-based cryptocurrency and energy trading platform that allows for decentralized selling and buying of renewable energy. Unique market and rather untapped market in the crypto space.
  3. Populous: A platform that connects business owners and invoice buyers without middlemen. Invoice sellers get cash flow to fund their business and invoice buyers earn interest. Similar to OMG, small market.
  4. Monacoin: The first Japanese cryptocurrency. Focused on micro-transactions and based on a popular internet meme of a type-written cat. This makes it similar to Dogecoin. Very niche, tiny market.
  5. Revain: Legitimizing reviews via the blockchain. Interesting concept, though market not as big.
  6. Augur: Platform to forecast and make wagers on the outcome of real-world events (AKA decentralized predictions). Uses predictions for a “wisdom of the crowd” search engine. Not launched yet.
  7. Substratum: Revolutionzing hosting industry via per request billing as a decentralized internet hosting system. Uses a global network of private computers to create the free and open internet of the future. Participants earn cryptocurrency. Interesting concept.
  8. Veritaseum: Is supposed to be a peer to peer gateway, though it looks like very much like a scam.
  9. TRON: Tronix is looking to capitalize on ownership of internet data to content creators. However, they plagiarized their white paper, which is a no go. They apologized, so it needs to be seen how they will conduct themselves in the future. Extremely high market cap for not having a product, nor proof of concept.
  10. Syscoin: A cryptocurrency with a decentralized marketplace that lets people buy and sell products directly without third parties. Trying to remove middlemen like eBay and Amazon.
  11. Hshare: Most likely scam because of no code changes, most likely pump and dump scheme, dead community.
  12. BAT: An Ethereum-based token that can be exchanged between content creators, users, and advertisers. Decentralized ad-network that pays based on engagement and attention.
  13. Dent: Decentralizeed exchange of mobile data, enabling mobile data to be marketed, purchased or distributed, so that users can quickly buy or sell data from any user to another one.
  14. Ncash: End to end encrypted Identification system for retailers to better serve their customers .
  15. Factom Secure record-keeping system that allows companies to store their data directly on the Blockchain. The goal is to make records more transparent and trustworthy .

Market 8 - Social network

Web 2.0 is still going strong and Web 3.0 is not going to ignore it. There are several gaming tokens already out there and a few with decent traction already, such as Steem, which is Reddit with voting through money is a very interesting one.
  1. Mithril: As users create content via social media, they will be rewarded for their contribution, the better the contribution, the more they will earn
  2. Steem: Like Reddit, but voting with money. Already launched product and Alexa rank 1,000 Thumbs up.
  3. Rdd: Reddcoin makes the process of sending and receiving money fun and rewarding for everyone. Reddcoin is dedicated to one thing – tipping on social networks as a way to bring cryptocurrency awareness and experience to the general public.
  4. Kin: Token for the platform Kik. Kik has a massive user base of 400 million people. Replacing paying with FIAT with paying with KIN might get this token to mass adoption very quickly.

Market 9 - Fee token

Popular exchanges realized that they can make a few billion dollars more by launching their own token. Owning these tokens gives you a reduction of trading fees. Very handy and BNB (Binance Coin) has been one of the most resilient tokens, which have withstood most market drops over the last weeks and was among the very few coins that could show growth.
  1. BNB: Fee token for Binance
  2. Gas: Not a Fee token for an exchange, but it is a dividend paid out on Neo and a currency that can be used to purchase services for dapps.
  3. Kucoin: Fee token for Kucoin

Market 10 - Decentralized Data Storage

Currently, data storage happens with large companies or data centers that are prone to failure or losing data. Decentralized data storage makes loss of data almost impossible by distributing your files to numerous clients that hold tiny pieces of your data. Remember Torrents? Torrents use a peer-to-peer network. It is similar to that. Many users maintain copies of the same file, when someone wants a copy of that file, they send a request to the peer-to-peer network., users who have the file, known as seeds, send fragments of the file to the requester., he requester receives many fragments from many different seeds, and the torrent software recompiles these fragments to form the original file.
  1. Gbyte: Byteball data is stored and ordered using directed acyclic graph (DAG) rather than blockchain. This allows all users to secure each other's data by referencing earlier data units created by other users, and also removes scalability limits common for blockchains, such as blocksize issue.
  2. Siacoin: Siacoin is decentralized storage platform. Distributes encrypted files to thousands of private users who get paid for renting out their disk space. Anybody with siacoins can rent storage from hosts on Sia. This is accomplish via "smart" storage contracts stored on the Sia blockchain. The smart contract provides a payment to the host only after the host has kept the file for a given amount of time. If the host loses the file, the host does not get paid.
  3. Maidsafecoin: MaidSafe stands for Massive Array of Internet Disks, Secure Access for Everyone.Instead of working with data centers and servers that are common today and are vulnerable to data theft and monitoring, SAFE’s network uses advanced P2P technology to bring together the spare computing capacity of all SAFE users and create a global network. You can think of SAFE as a crowd-sourced internet. All data and applications reside in this network. It’s an autonomous network that automatically sets prices and distributes data and rents out hard drive disk space with a Blockchain-based storage solutions.When you upload a file to the network, such as a photo, it will be broken into pieces, hashed, and encrypted. The data is then randomly distributed across the network. Redundant copies of the data are created as well so that if someone storing your file turns off their computer, you will still have access to your data. And don’t worry, even with pieces of your data on other people’s computers, they won’t be able to read them. You can earn MadeSafeCoins by participating in storing data pieces from the network on your computer and thus earning a Proof of Resource.
  4. Storj: Storj aims to become a cloud storage platform that can’t be censored or monitored, or have downtime. Your files are encrypted, shredded into little pieces called 'shards', and stored in a decentralized network of computers around the globe. No one but you has a complete copy of your file, not even in an encrypted form.

Market 11 - Cloud computing

Obviously, renting computing power, one of the biggest emerging markets as of recent years, e.g. AWS and Digital Ocean, is also a service, which can be bought and managed via the blockchain.
  1. Golem: Allows easy use of Supercomputer in exchange for tokens. People worldwide can rent out their computers to the network and get paid for that service with Golem tokens.
  2. Elf: Allows easy use of Cloud computing in exchange for tokens.

Market 12 - Stablecoin

Last but not least, there are 2 stablecoins that have established themselves within the market. A stable coin is a coin that wants to be independent of the volatility of the crypto markets. This has worked out pretty well for Maker and DGD, accomplished through a carefully diversified currency fund and backing each token by 1g or real gold respectively. DO NOT CONFUSE DGD AND MAKER with their STABLE COINS DGX and DAI. DGD and MAKER are volatile, because they are the companies of DGX and DAI. DGX and DAI are the stable coins.
  1. DGD: Platform of the Stablecoin DGX. Every DGX coin is backed by 1g of gold and make use proof of asset consensus.
  2. Maker: Platform of the Stablecoin DAI that doesn't vary much in price through widespread and smart diversification of assets.
EDIT: Added a risk factor from 0 to 10. The baseline is 2 for any crypto. Significant scandals, mishaps, shady practices, questionable technology, increase the risk factor. Not having a product yet automatically means a risk factor of 6. Strong adoption and thus strong scrutiny or positive community lower the risk factor.
EDIT2: Added a subjective potential factor from 0 to 10, where its overall potential and a small or big market cap is factored in. Bitcoin with lots of potential only gets a 9, because of its massive market cap, because if Bitcoin goes 10x, smaller coins go 100x, PIVX gets a 10 for being as good as Monero while carrying a 10x smaller market cap, which would make PIVX go 100x if Monero goes 10x.
submitted by galan77 to CryptoCurrency [link] [comments]

I'm sitting on a useless Antminer t9+, does anyone want to buy it or offer me advice?

When the bitcoin hype was big, I made some decent money buying and selling Antminers on ebay. Unfortunately when the crash happened I got stuck with one left in inventory. Since then I run it occasionally, but I live in a place where electricity is stupid expensive. Right now running my T9+ is basically burning money, because if it costs (theoretically) 50$ to run each month in electricity, but I could purchase substantially more btc from coinbase with the same 50$ each month, then that means basically every mining machine in the united states is basically a paperweight unless you are on solar.
So does anyone have any ideas on what I could do with this miner? Are there other SHA256 coins that are compatible with the T9+? Are there any cool science/computing type projects I could put the miner to work on, or could I even part out the hashing boards to someone? I'm open to all ideas.
submitted by teal_bot to BitcoinMining [link] [comments]

Cryptocurrency: EOS (EOS) — overview

Cryptocurrency: EOS (EOS) — overview

https://preview.redd.it/wgl64pvfjax31.png?width=1200&format=png&auto=webp&s=6ef2edb67c91a0a0807c23c915d21df1014b36a3

What does the company / project do?

The project aims to create the most powerful infrastructure in the world for decentralized applications.
EOS is a blockchain technology platform that revolves around the use of project tokens. These platform tokens were launched in the summer of 2017 after a successful ICO (ending June 2018)
The project is similar to Ethereum. Like Ethereum, IOS is a smart contract hosting platform designed for open source projects and decentralized consumer-centric applications (DApps). The platform's goal at launch was to take market share away from Ethereum, promising a more scalable cloud chain with better usability for large-scale enterprises.

https://preview.redd.it/6othrs8bjax31.png?width=900&format=png&auto=webp&s=f48b6f368e934ee85dc61fca1d27c137afcd939a
In short, EOS is a new approach to the Ethereum virtual machine. Unlike the Ethereum virtual machine, which acts as a distributed global supercomputer, the platform is built around an operating system in which developers can build applications.
The platform was created by the Block team.one.

How does IOS work?

IOS is a platform on which developers can build decentralized applications. Project token holders can bet their coins to Fund application development on the platform's network. In the meantime, users can participate in the project's applications for "free" without having to buy platform tokens.
Instead of charging users to take action on the project network, the platform's proof of quotes system ensures that bandwidth, computation, and storage capacity are distributed in proportion to the number of EOS installed in the application.
https://preview.redd.it/8r11zq4djax31.png?width=1600&format=png&auto=webp&s=fe5787ecd898a146e82adc4e64caa9e0f200bbe9
A key part of the platform is the delegated collision proof algorithm (DPOS). This is designed to meet the performance requirements of decentralized applications on the blockchain — including handling millions of users.
The platform block chain produces blocks every 3 seconds. Exactly one manufacturer has the right to produce a unit at any given time. If a block is not created at the scheduled time, the block is skipped. Blocks are produced in 21 rounds. At the beginning of each round, 21 unique block makers are selected. In each round, the top 20 candidates are automatically selected, and the last manufacturer is selected in proportion to the number of votes compared to other manufacturers. The selected producers are shuffled using a random number (pseudo-randomness derived from block time). This shuffle ensures that all manufacturers maintain a balanced relationship with all other manufacturers.
One of the unique advantages of the blockchain platform is that it does not experience any forks. This is because the manufacturers of the blocks work together to create blocks, not to compete. In the case of a fork, the consensus automatically switches to the longest chain.

https://preview.redd.it/awdtkhamjax31.png?width=1000&format=png&auto=webp&s=80200da428a98b4c89fb13627782260e450a2a86
EOS also has another great feature called transaction as proof of stake or Tapas. The platform software requires each transaction to include a hash of the last block header. This hash prevents the transaction from repeating on forks that do not include a reference block. The hash also signals to the network that a particular user and their share are on a particular fork.
The EOS whitepaper provides additional technical details about TaPoS and a uniquely detailed proof of ownership of the project.

EOS features

The platform highlights all of the following key features:

Scalability:
EOS is capable of supporting thousands of decentralized commercial-scale applications. Parallel execution, asynchronous communication, and other features also increase the scalability of the platform. In addition, the platform can separate authentication from execution.
https://preview.redd.it/ipx138g6lax31.png?width=800&format=png&auto=webp&s=895b3171c80826cc5bcddf75ce053d6edac99ea4
Flexibility:
EOS offers generalized role-based permissions, the ability to freeze and fix broken apps, and a web build platform, making it a flexible option for decentralized app developers.

Usable:
EOS has a web-based interface development Toolkit, as well as self-descriptive interfaces, self-describing database schemas, and a declarative resolution schema.

Equal opportunity:
EOS tokens do not have a predetermined price, and the price of tokens is determined by market demand. This is designed to simulate mining without giving unfair advantages to large buyers. It's more democratic.

Wide distribution:
The distribution of platform tokens takes place within 341 days. This is intended to give the community enough time to familiarize themselves with the project and participate in the distribution. As of November 2017, the volume of deliveries is about 448 million EOS out of a total of 1 billion EOS. The countdown timer on EOS.io shows you every stage of the sale of the token. In the picture below, this is for a period of 163/350, with the release of 2 million platform tokens during this period.
https://preview.redd.it/o6mb3jbmlax31.png?width=1500&format=png&auto=webp&s=c2e3a5053b684b8fca4c5859ab48039f7888ae86

What problems is EOS trying to solve?

In principle, the purpose of the platform is to create a blockchain that can be used for scalable commercial purposes. Well-known advanced blockchains, including Bitcoin , Ethereum, BitShares and others, are known for their scalability and durability, but they also have big challenges.
These chains can support tens of thousands of transactions per second (if not more). However, they are burdened with large fees and limited computing capabilities.
In order for blockchain technology to become widespread, the project believes that certain changes need to be made, including the ability to support millions of users:

"Overcoming companies like Ebay, Uber, AirBnB and Facebook requires blockchain technology capable of handling tens of millions of active daily users. In some cases, applications may not work if a critical mass of users is not reached, and therefore a platform that can handle a massive number of users is of paramount importance."

Other problems with today's blockchains include the fact that users have to pay for services on certain platforms. Users of the social network are not used to paying for services. Few people want to pay to access the platform online-whether they pay in currency or cryptocurrencies.

https://preview.redd.it/tdkhj3o6max31.png?width=750&format=png&auto=webp&s=8a68a4941714156f3f1c9d7e7504dc478d68e4c3
The platform whitepaper also identifies issues such as complex updates, error issues, high latency, and lack of parallel performance.

Conclusion

EOS is a commercial grade blockchain designed to support millions of users through a delegated proof of share system. The platform's software introduces a new blockchain architecture that facilitates vertical and horizontal scaling of decentralized applications. The end result is an operating system-like platform on which decentralized applications can be built.
Some of the key features of the platform include accounts, authentication, databases, asynchronous communication, and application scheduling on hundreds of cores or CPU clusters.
submitted by AVAY11 to u/AVAY11 [link] [comments]

Which are your top 5 coins out of the top100? An analysis.

I am putting together my investment portfolio for 2018 and made a complete summary of the current Top 100. Interestingly, I noticed that all coins can be categorized into 12 markets. Which markets do you think will play the biggest role in the coming year?
Here is a complete overview of all coins in an excel sheet including name, a full description, market, TPS, risk profile, time since launch (negative numbers mean that they are launching that many months in the future) and market cap. You can also sort by all of these fields of course. Coins written in bold are the strongest contenders within their market either due to having the best technology or having a small market cap and still excellent technology and potential. https://docs.google.com/spreadsheets/d/1s8PHcNvvjuy848q18py_CGcu8elRGQAUIf86EYh4QZo/edit#gid=0
The 12 markets are
  1. Currency 13 coins
  2. Platform 25 coins
  3. Ecosystem 9 coins
  4. Privacy 9 coins
  5. Currency Exchange Tool 8 coins
  6. Gaming & Gambling 4 coins
  7. Misc 15 coins
  8. Social Network 4 coins
  9. Fee Token 3 coins
  10. Decentralized Data Storage 4 coins
  11. Cloud Computing 2 coins
  12. Stable Coin 3 coins
Before we look at the individual markets, we need to take a look of the overall market and its biggest issue, scalability, first:
Cryptocurrencies aim to be a decentralized currency that can be used worldwide. Their goal is to replace dollar, Euro, Yen, all FIAT currencies globally. The coin that will achieve that will be worth several trillion dollars.
Bitcoin can only process 7 transactions per second (TPS) currently. In order to replace all FIAT, it would need to perform at least at VISA levels, which usually processes around 3,000 TPS, up to 25,000 TPS during peak times and a maximum of 64,000 TPS. That means that this cryptocurrency would need to be able to perform at least several thousand TPS. However, a ground breaking technology should not look at current technology to set a goal for its use, i.e. estimating the number of emails sent in 1990 based on the number of faxes sent wasn’t a good estimate.
For that reason, 10,000 TPS is the absolute baseline for a cryptocurrency that wants to replace FIAT. This brings me to IOTA, which wants to connect all 80 billion IoT devices that are expected to exist by 2025, which constantly communicate with each other, possibly creating 80 billion or more transactions per second. This is the benchmark that cryptocurrencies should be aiming for. Currently, 8 billion devices are connected to the Internet.
With its Lightning network recently launched, Bitcoin is realistically looking at 50,000 possible TPS soon. Other notable cryptocurrencies besides IOTA and Bitcoin are Nano with 7,000 TPS already tested, Dash with several billion TPS possible with Masternodes, Neo, LISK and RHOC with 100,000 TPS by 2020, Ripple with 50,000 TPS, Ethereum with 10,000 TPS with Sharding.
However, it needs to be said that scalability usually goes at the cost of decentralization and security. So, it needs to be seen, which of these technologies can prove themselves decentralized while maintaining high TPS.
Without further ado, here are the coins of the first market. Each market is sorted by market cap.

Market 1 - Currency:

  1. Bitcoin: 1st generation blockchain with currently bad scalability, though the implementation of the Lightning Network looks promising and could alleviate most scalability and high energy use concerns.
  2. Ripple: Centralized currency that might become very successful due to tight involvement with banks and cross-border payments for financial institutions; banks and companies like Western Union and Moneygram (who they are currently working with) as customers customers. However, it seems they are aiming for more decentralization now.https://ripple.com/dev-blog/decentralization-strategy-update/. Has high TPS due to Proof of Correctness algorithm.
  3. Bitcoin Cash: Bitcoin fork with the difference of having an 8 times bigger block size, making it 8 times more scalable than Bitcoin currently. Further block size increases are planned. Only significant difference is bigger block size while big blocks lead to further problems that don't seem to do well beyond a few thousand TPS. Opponents to a block size argue that increasing the block size limit is unimaginative, offers only temporary relief, and damages decentralization by increasing costs of participation. In order to preserve decentralization, system requirements to participate should be kept low. To understand this, consider an extreme example: very big blocks (1GB+) would require data center level resources to validate the blockchain. This would preclude all but the wealthiest individuals from participating.Community seems more open than Bitcoin's though.
  4. Litecoin : Little brother of Bitcoin. Bitcoin fork with different mining algorithm but not much else.Copies everything that Bitcoin does pretty much. Lack of real innovation.
  5. Dash: Dash (Digital Cash) is a fork of Bitcoin and focuses on user ease. It has very fast transactions within seconds, low fees and uses Proof of Service from Masternodes for consensus. They are currently building a system called Evolution which will allow users to send money using usernames and merchants will find it easy to integrate Dash using the API. You could say Dash is trying to be a PayPal of cryptocurrencies. Currently, cryptocurrencies must choose between decentralization, speed, scalability and can pick only 2. With Masternodes, Dash picked speed and scalability at some cost of decentralization, since with Masternodes the voting power is shifted towards Masternodes, which are run by Dash users who own the most Dash.
  6. IOTA: 3rd generation blockchain called Tangle, which has a high scalability, no fees and instant transactions. IOTA aims to be the connective layer between all 80 billion IOT devices that are expected to be connected to the Internet in 2025, possibly creating 80 billion transactions per second or 800 billion TPS, who knows. However, it needs to be seen if the Tangle can keep up with this scalability and iron out its security issues that have not yet been completely resolved.
  7. Nano: 3rd generation blockchain called Block Lattice with high scalability, no fees and instant transactions. Unlike IOTA, Nano only wants to be a payment processor and nothing else, for now at least. With Nano, every user has their own blockchain and has to perform a small amount of computing for each transaction, which makes Nano perform at 300 TPS with no problems and 7,000 TPS have also been tested successfully. Very promising 3rd gen technology and strong focus on only being the fastest currency without trying to be everything.
  8. Decred: As mining operations have grown, Bitcoin’s decision-making process has become more centralized, with the largest mining companies holding large amounts of power over the Bitcoin improvement process. Decred focuses heavily on decentralization with their PoW Pos hybrid governance system to become what Bitcoin was set out to be. They will soon implement the Lightning Network to scale up. While there do not seem to be more differences to Bitcoin besides the novel hybrid consensus algorithm, which Ethereum, Aeternity and Bitcoin Atom are also implementing, the welcoming and positive Decred community and professoinal team add another level of potential to the coin.
  9. Bitcoin Atom: Atomic Swaps and hybrid consenus. This looks like the only Bitcoin clone that actually is looking to innovate next to Bitcoin Cash.
  10. Dogecoin: Litecoin fork, fantastic community, though lagging behind a bit in technology.
  11. Bitcoin Gold: A bit better security than bitcoin through ASIC resistant algorithm, but that's it. Not that interesting.
  12. Digibyte: Digibyte's PoS blockchain is spread over a 100,000+ servers, phones, computers, and nodes across the globe, aiming for the ultimate level of decentralization. DigiByte’s adoption over the past four years has been slow. The DigiByte website offers a lot of great marketing copy and buzzwords. However, there’s not much technical information about what they have planned for the future. You could say Digibyte is like Bitcoin, but with shorter blocktimes and a multi-algorithm. However, that's not really a difference big enough to truly set themselves apart from Bitcoin, since these technologies could be implemented by any blockchain without much difficulty. Their decentralization is probably their strongest asset, however, this also change quickly if the currency takes off and big miners decide to go into Digibyte.
  13. Bitcoin Diamond Asic resistant Bitcoin and Copycat

Market 2 - Platform

Most of the cryptos here have smart contracts and allow dapps (Decentralized apps) to be build on their platform and to use their token as an exchange of value between dapp services.
  1. Ethereum: 2nd generation blockchain that allows the use of smart contracts. Bad scalability currently, though this concern could be alleviated by the soon to be implemented Lightning Network aka the Raiden Network, Plasma and its Sharding concept.
  2. EOS: Promising technology that wants to be able do everything, from smart contracts like Ethereum, scalability similar to Nano with 1000 tx/second + near instant transactions and zero fees, to also wanting to be a platform for dapps. However, EOS doesn't have a product yet and everything is just promises still. There are lots of red flags, e.g. having dumped $500 million Ether over the last 2 months and possibly bought back EOS to increase the size of their ICO, which has been going on for over a year and has raised several billion dollars. All in all, their market cap is way too high for that and not even having a product. However, Mainnet release is in 1 month, which could change everything.
  3. Cardano: Similar to Ethereum/EOS, however, only promises made with no delivery yet, highly overrated right now. Interesting concept though. Market cap way too high for not even having a product. Somewhat promising technology.
  4. VeChain: Singapore-based project that’s building a business enterprise platform and inventory tracking system. Examples are verifying genuine luxury goods and food supply chains. Has one of the strongest communities in the crypto world. Most hyped token of all, with merit though.
  5. Neo: Neo is a platform, similar to Eth, but more extensive, allowing dapps and smart contracts, but with a different smart contract gas system, consensus mechanism (PoS vs. dBfT), governance model, fixed vs unfixed supply, expensive contracts vs nearly free contracts, different ideologies for real world adoption. There are currently only 9 nodes, each of which are being run by a company/entity hand selected by the NEO council (most of which are located in china) and are under contract. This means that although the locations of the nodes may differ, ultimately the neo council can bring them down due to their legal contracts. In fact this has been done in the past when the neo council was moving 50 million neo that had been locked up. Also dbft (or neo's implmentation of it) has failed underload causing network outages during major icos. The first step in decentralization is that the NEO Counsel will select trusted nodes (Universities, business partners, etc.) and slowly become less centralized that way. The final step in decentralization will be allowing NEO holders to vote for new nodes, similar to a DPoS system (ARK/EOS/LISK). NEO has a regulation/government friendly ideology. Finally they are trying to work undewith the Chinese government in regards to regulations. If for some reason they wanted it shut down, they could just shut it down.
  6. Stellar:PoS system, similar goals as Ripple, but more of a platform than only a currency. 80% of Stellar are owned by Stellar.org still, making the currency centralized.
  7. Ethereum classic: Original Ethereum that decided not to fork after a hack. The Ethereum that we know is its fork. Uninteresing, because it has a lot of less resources than Ethereum now and a lot less community support.
  8. Ziliqa: Zilliqa is building a new way of sharding. 2400 tpx already tested, 10,000 tps soon possible by being linearly scalable with the number of nodes. That means, the more nodes, the faster the network gets. They are looking at implementing privacy as well.
  9. QTUM: Enables Smart contracts on the Bitcoin blockchain. Useful.
  10. Icon: Korean ethereum. Decentralized application platform that's building communities in partnership with banks, insurance providers, hospitals, and universities. Focused on ID verification and payments.
  11. LISK: Lisk's difference to other BaaS is that side chains are independent to the main chain and have to have their own nodes. Similar to neo whole allows dapps to deploy their blockchain to. Like most cryptocurrencies, Lisk is currently somewhat centralized with a small group of members owning more than 50% of the delegated positions. Lisk plans to change the consensus algorithm for that reason in the near future.
  12. Rchain: Similar to Ethereum with smart contract, though much more scalable at an expected 40,000 TPS and possible 100,000 TPS. Not launched yet. No product launched yet, though promising technology. Not overvalued, probably at the right price right now.
  13. ARDR: Similar to Lisk. Ardor is a public blockchain platform that will allow people to utilize the blockchain technology of Nxt through the use of child chains. A child chain, which is a ‘light’ blockchain that can be customized to a certain extent, is designed to allow easy self-deploy for your own blockchain. Nxt claims that users will "not need to worry" about security, as that part is now handled by the main chain (Ardor). This is the chief innovation of Ardor. Ardor was evolved from NXT by the same company. NEM started as a NXT clone.
  14. Ontology: Similar to Neo. Interesting coin
  15. Bytom: Bytom is an interactive protocol of multiple byte assets. Heterogeneous byte-assets (indigenous digital currency, digital assets) that operate in different forms on the Bytom Blockchain and atomic assets (warrants, securities, dividends, bonds, intelligence information, forecasting information and other information that exist in the physical world) can be registered, exchanged, gambled and engaged in other more complicated and contract-based interoperations via Bytom.
  16. Nxt: Similar to Lisk
  17. Aeternity: We’ve seen recently, that it’s difficult to scale the execution of smart contracts on the blockchain. Crypto Kitties is a great example. Something as simple as creating and trading unique assets on Ethereum bogged the network down when transaction volume soared. Ethereum and Zilliqa address this problem with Sharding. Aeternity focuses on increasing the scalability of smart contracts and dapps by moving smart contracts off-chain. Instead of running on the blockchain, smart contracts on Aeternity run in private state channels between the parties involved in the contracts. State channels are lines of communication between parties in a smart contract. They don’t touch the blockchain unless they need to for adjudication or transfer of value. Because they’re off-chain, state channel contracts can operate much more efficiently. An important aspect of smart contract and dapp development is access to outside data sources. This could mean checking the weather in London, score of a football game, or price of gold. Oracles provide access to data hosted outside the blockchain. In many blockchain projects, oracles represent a security risk and potential point of failure, since they tend to be singular, centralized data streams. Aeternity proposes decentralizing oracles with their oracle machine. Doing so would make outside data immutable and unchangeable once it reaches Aeternity’s blockchain. Aeternity’s network runs on on a hybrid of proof of work and proof of stake. Founded by a long-time crypto-enthusiast and early colleague of Vitalik Buterin, Yanislav Malahov. Promising concept though not product yet
  18. Stratis: Different to LISK, Stratis will allow businesses and organizations to create their own blockchain according to their own needs, but secured on the parent Stratis chain. Stratis’s simple interface will allow organizations to quickly and easily deploy and/or test blockchain functionality of the Ethereum, BitShares, BitCoin, Lisk and Stratis environements.
  19. Status: Status provides access to all of Ethereum’s decentralized applications (dapps) through an app on your smartphone. It opens the door to mass adoption of Ethereum dapps by targeting the fastest growing computer segment in the world – smartphone users.
  20. Ark: Fork of Lisk that focuses on a smaller feature set. Ark wallets can only vote for one delegate at a time which forces delegates to compete against each other and makes cartel formations incredibly hard, if not impossible.
  21. Neblio: Similar to Neo, but at a 30x smaller market cap.
  22. NEM: Is similar to Neo. However, it has no marketing team, very high market cap for little clarilty what they do.
  23. Bancor: Bancor is a Decentralized Liquidity Network that allows you to hold any Ethereum token and convert it to any other token in the network, with no counter party, at an automatically calculated price, using a simple web wallet.
  24. Dragonchain: The Purpose of DragonChain is to help companies quickly and easily incorporate blockchain into their business applications. Many companies might be interested in making this transition because of the benefits associated with serving clients over a blockchain – increased efficiency and security for transactions, a reduction of costs from eliminating potential fraud and scams, etc.
  25. Skycoin: Transactions with zero fees that take apparently two seconds, unlimited transaction rate, no need for miners and block rewards, low power usage, all of the usual cryptocurrency technical vulnerabilities fixed, a consensus mechanism superior to anything that exists, resistant to all conceivable threats (government censorship, community infighting, cybenucleaconventional warfare, etc). Skycoin has their own consensus algorithm known as Obelisk written and published academically by an early developer of Ethereum. Obelisk is a non-energy intensive consensus algorithm based on a concept called ‘web of trust dynamics’ which is completely different to PoW, PoS, and their derivatives. Skywire, the flagship application of Skycoin, has the ambitious goal of decentralizing the internet at the hardware level and is about to begin the testnet in April. However, this is just one of the many facets of the Skycoin ecosystem. Skywire will not only provide decentralized bandwidth but also storage and computation, completing the holy trinity of commodities essential for the new internet. Skycion a smear campaign launched against it, though they seem legit and reliable. Thus, they are probably undervalued.

Market 3 - Ecosystem

The 3rd market with 11 coins is comprised of ecosystem coins, which aim to strengthen the ease of use within the crypto space through decentralized exchanges, open standards for apps and more
  1. Nebulas: Similar to how Google indexes webpages Nebulas will index blockchain projects, smart contracts & data using the Nebulas rank algorithm that sifts & sorts the data. Developers rewarded NAS to develop & deploy on NAS chain. Nebulas calls this developer incentive protocol – basically rewards are issued based on how often dapp/contract etc. is used, the more the better the rewards and Proof of devotion. Works like DPoS except the best, most economically incentivised developers (Bookkeeppers) get the forging spots. Ensuring brains stay with the project (Cross between PoI & PoS). 2,400 TPS+, DAG used to solve the inter-transaction dependencies in the PEE (Parallel Execution Environment) feature, first crypto Wallet that supports the Lightening Network.
  2. Waves: Decentralized exchange and crowdfunding platform. Let’s companies and projects to issue and manage their own digital coin tokens to raise money.
  3. Salt: Leveraging blockchain assets to secure cash loands. Plans to offer cash loans in traditional currencies, backed by your cryptocurrency assets. Allows lenders worldwide to skip credit checks for easier access to affordable loans.
  4. CHAINLINK: ChainLink is a decentralized oracle service, the first of its kind. Oracles are defined as an ‘agent’ that finds and verifies real-world occurrences and submits this information to a blockchain to be used in smart contracts.With ChainLink, smart contract users can use the network’s oracles to retrieve data from off-chain application program interfaces (APIs), data pools, and other resources and integrate them into the blockchain and smart contracts. Basically, ChainLink takes information that is external to blockchain applications and puts it on-chain. The difference to Aeternity is that Chainlink deploys the smart contracts on the Ethereum blockchain while Aeternity has its own chain.
  5. WTC: Combines blockchain with IoT to create a management system for supply chains Interesting
  6. Ethos unifyies all cryptos. Ethos is building a multi-cryptocurrency phone wallet. The team is also building an investment diversification tool and a social network
  7. Komodo: The Komodo blockchain platform uses Komodo’s open-source cryptocurrency for doing transparent, anonymous, private, and fungible transactions. They are then made ultra-secure using Bitcoin’s blockchain via a Delayed Proof of Work (dPoW) protocol and decentralized crowdfunding (ICO) platform to remove middlemen from project funding. Offers services for startups to create and manage their own Blockchains.
  8. Aion: Today, there are hundreds of blockchains. In the coming years, with widespread adoption by mainstream business and government, these will be thousands or millions. Blockchains don’t talk to each other at all right now, they are like the PCs of the 1980s. The Aion network is able to support custom blockchain architectures while still allowing for cross-chain interoperability by enabling users to exchange data between any Aion-compliant blockchains by making use of an interchain framework that allows for messages to be relayed between blockchains in a completely trust-free manner.
  9. Tenx: Raised 80 million, offers cryptocurrency-linked credit cards that let you spend virtual money in real life. Developing a series of payment platforms to make spending cryptocurrency easier.

Market 4 - Privacy

The 4th market are privacy coins. As you might know, Bitcoin is not anonymous. If the IRS or any other party asks an exchange who is the identity behind a specific Bitcoin address, they know who you are and can track back almost all of the Bitcoin transactions you have ever made and all your account balances. Privacy coins aim to prevent exactly that through address fungability, which changes addresses constantly, IP obfuscation and more. There are 2 types of privacy coins, one with completely privacy and one with optional privacy. Optional Privacy coins like Dash and Nav have the advantage of more user friendliness over completely privacy coins such as Monero and Enigma.
  1. Monero: Currently most popular privacy coin, though with a very high market cap. Since their privacy is all on chain, all prior transactions would be deanonymized if their protocol is ever cracked. This requires a quantum computing attack though. PIVX is better in that regard.
  2. Zcash: A decentralized and open-source cryptocurrency that hide the sender, recipient, and value of transactions. Offers users the option to make transactions public later for auditing. Decent privacy coin, though no default privacy
  3. Verge: Calls itself privacy coin without providing private transactions, multiple problems over the last weeks has a toxic community, and way too much hype for what they have.
  4. Bytecoin: First privacy-focused cryptocurrency with anonymous transactions. Bytecoin’s code was later adapted to create Monero, the more well-known anonymous cryptocurrency. Has several scam accusations, 80% pre-mine, bad devs, bad tech
  5. Bitcoin Private: A merge fork of Bitcoin and Zclassic with Zclassic being a fork of Zcash with the difference of a lack of a founders fee required to mine a valid block. This promotes a fair distribution, preventing centralized coin ownership and control. Bitcoin private offers the optional ability to keep the sender, receiver, and amount private in a given transaction. However, this is already offered by several good privacy coins (Monero, PIVX) and Bitcoin private doesn't offer much more beyond this.
  6. PIVX: As a fork of Dash, PIVX uses an advanced implementation of the Zerocoin protocol to provide it’s privacy. This is a form of zeroknowledge proofs, which allow users to spend ‘Zerocoins’ that have no link back to them. Unlike Zcash u have denominations in PIVX, so they can’t track users by their payment amount being equal to the amount of ‘minted’ coins, because everyone uses the same denominations. PIVX is also implementing Bulletproofs, just like Monero, and this will take care of arguably the biggest weakness of zeroknowledge protocols: the trusted setup.
  7. Zcoin: PoW cryptocurrency. Private financial transactions, enabled by the Zerocoin Protocol. Zcoin is the first full implementation of the Zerocoin Protocol, which allows users to have complete privacy via Zero-Knowledge cryptographic proofs.
  8. Enigma: Monero is to Bitcoin what enigma is to Ethereum. Enigma is for making the data used in smart contracts private. More of a platform for dapps than a currency like Monero. Very promising.
  9. Navcoin: Like bitcoin but with added privacy and pos and 1,170 tps, but only because of very short 30 second block times. Though, privacy is optional, but aims to be more user friendly than Monero. However, doesn't really decide if it wants to be a privacy coin or not. Same as Zcash.Strong technology, non-shady team.

Market 5 - Currency Exchange Tool

Due to the sheer number of different cryptocurrencies, exchanging one currency for the other it still cumbersome. Further, merchants don’t want to deal with overcluttered options of accepting cryptocurrencies. This is where exchange tool like Req come in, which allow easy and simple exchange of currencies.
  1. Cryptonex: Fiat and currency exchange between various blockchain services, similar to REQ.
  2. QASH: Qash is used to fuel its liquid platform which will be an exchange that will distribute their liquidity pool. Its product, the Worldbook is a multi-exchange order book that matches crypto to crypto, and crypto to fiat and the reverse across all currencies. E.g., someone is selling Bitcoin is USD on exchange1 not owned by Quoine and someone is buying Bitcoin in EURO on exchange 2 not owned by Quoine. They turned it on to test it a few months ago for an hour or so and their exchange was the top exchange in the world by 4x volume for the day because all Worldbook trades ran through it. Binance wants BNB to be used on their one exchange. Qash wants their QASH token embedded in all of their partners.
  3. Kyber: network Exchange between cryptocurrencies, similar to REQ. Features automatic coin conversions for payments. Also offers payment tools for developers and a cryptocurrency wallet.
  4. Achain: Building a boundless blockchain world like Req .
  5. Centrality: Centrality is a decentralized market place for dapps that are all connected together on a blockchain-powered system. Centrality aims to allow businesses to work together using blockchain technology. With Centrality, startups can collaborate through shared acquisition of customers, data, merchants, and content. That shared acquisition occurs across the Centrality blockchain, which hosts a number of decentralized apps called Scenes. Companies can use CENTRA tokens to purchase Scenes for their app, then leverage the power of the Centrality ecosystem to quickly scale. Some of Centrality's top dapps are, Skoot, a travel experience marketplace that consists of a virtual companion designed for free independent travelers and inbound visitors, Belong, a marketplace and an employee engagement platform that seems at helping business provide rewards for employees, Merge, a smart travel app that acts as a time management system, Ushare, a transports application that works across rental cars, public transport, taxi services, electric bikes and more. All of these dapps are able to communicate with each other and exchange data through Centrality.
  6. Bitshares: Exchange between cryptocurrencies. Noteworthy are the 1.5 second average block times and throughput potential of 100,000 transactions per second with currently 2,400 TPS having been proven. However, Bitshares had several Scam accusations in the past.
  7. Loopring: A protocol that will enable higher liquidity between exchanges and personal wallets by pooling all orders sent to its network and fill these orders through the order books of multiple exchanges. When using Loopring, traders never have to deposit funds into an exchange to begin trading. Even with decentralized exchanges like Ether Delta, IDex, or Bitshares, you’d have to deposit your funds onto the platform, usually via an Ethereum smart contract. But with Loopring, funds always remain in user wallets and are never locked by orders. This gives you complete autonomy over your funds while trading, allowing you to cancel, trim, or increase an order before it is executed.
  8. ZRX: Open standard for dapps. Open, permissionless protocol allowing for ERC20 tokens to be traded on the Ethereum blockchain. In 0x protocol, orders are transported off-chain, massively reducing gas costs and eliminating blockchain bloat. Relayers help broadcast orders and collect a fee each time they facilitate a trade. Anyone can build a relayer.

Market 6 - Gaming

With an industry size of $108B worldwide, Gaming is one of the largest markets in the world. For sure, cryptocurrencies will want to have a share of that pie.
  1. Storm: Mobile game currency on a platform with 9 million players.
  2. Fun: A platform for casino operators to host trustless, provably-fair gambling through the use of smart contracts, as well as creating their own implementation of state channels for scalability.
  3. Electroneum: Mobile game currency They have lots of technical problems, such as several 51% attacks
  4. Wax: Marketplace to trade in-game items

Market 7 - Misc

There are various markets being tapped right now. They are all summed up under misc.
  1. OMG: Omise is designed to enable financial services for people without bank accounts. It works worldwide and with both traditional money and cryptocurrencies.
  2. Power ledger: Australian blockchain-based cryptocurrency and energy trading platform that allows for decentralized selling and buying of renewable energy. Unique market and rather untapped market in the crypto space.
  3. Populous: Populous is a platform that connects business owners and invoice buyers without middlemen. Furthermore, it is a peer-to-peer (P2P) platform that uses blockchain to provide small and medium-sized enterprises (SMEs) a more efficient way to participate in invoice financing. Businesses can sell their outstanding invoices at a discount to quickly free up some cash. Invoice sellers get cash flow to fund their business and invoice buyers earn interest.
  4. Monacoin: The first Japanese cryptocurrency. Focused on micro-transactions and based on a popular internet meme of a type-written cat. This makes it similar to Dogecoin. Very niche, tiny market.
  5. Revain: Legitimizing reviews via the blockchain. Interesting concept, though market not as big.
  6. Augur: Platform to forecast and make wagers on the outcome of real-world events (AKA decentralized predictions). Uses predictions for a “wisdom of the crowd” search engine. Not launched yet.
  7. Substratum: Revolutionzing hosting industry via per request billing as a decentralized internet hosting system. Uses a global network of private computers to create the free and open internet of the future. Participants earn cryptocurrency. Interesting concept.
  8. Veritaseum: Is supposed to be a peer to peer gateway, though it looks like very much like a scam.
  9. TRON: Tronix is looking to capitalize on ownership of internet data to content creators. However, they plagiarized their white paper, which is a no go. They apologized, so it needs to be seen how they will conduct themselves in the future. Extremely high market cap for not having a product, nor proof of concept.
  10. Syscoin: A cryptocurrency with a decentralized marketplace that lets people buy and sell products directly without third parties. Trying to remove middlemen like eBay and Amazon.
  11. Hshare: Most likely scam because of no code changes, most likely pump and dump scheme, dead community.
  12. BAT: An Ethereum-based token that can be exchanged between content creators, users, and advertisers. Decentralized ad-network that pays based on engagement and attention.
  13. Dent: Decentralizeed exchange of mobile data, enabling mobile data to be marketed, purchased or distributed, so that users can quickly buy or sell data from any user to another one.
  14. Ncash: End to end encrypted Identification system for retailers to better serve their customers .
  15. Factom Secure record-keeping system that allows companies to store their data directly on the Blockchain. The goal is to make records more transparent and trustworthy .

Market 8 - Social network

Web 2.0 is still going strong and Web 3.0 is not going to ignore it. There are several gaming tokens already out there and a few with decent traction already, such as Steem, which is Reddit with voting through money is a very interesting one.
  1. Mithril: As users create content via social media, they will be rewarded for their contribution, the better the contribution, the more they will earn
  2. Steem: Like Reddit, but voting with money. Already launched product and Alexa rank 1,000 Thumbs up.
  3. Rdd: Reddcoin makes the process of sending and receiving money fun and rewarding for everyone. Reddcoin is dedicated to one thing – tipping on social networks as a way to bring cryptocurrency awareness and experience to the general public.
  4. Kin: Token for the platform Kik. Kik has a massive user base of 400 million people. Replacing paying with FIAT with paying with KIN might get this token to mass adoption very quickly.

Market 9 - Fee token

Popular exchanges realized that they can make a few billion dollars more by launching their own token. Owning these tokens gives you a reduction of trading fees. Very handy and BNB (Binance Coin) has been one of the most resilient tokens, which have withstood most market drops over the last weeks and was among the very few coins that could show growth.
  1. BNB: Fee token for Binance
  2. Gas: Not a Fee token for an exchange, but it is a dividend paid out on Neo and a currency that can be used to purchase services for dapps.
  3. Kucoin: Fee token for Kucoin

Market 10 - Decentralized Data Storage

Currently, data storage happens with large companies or data centers that are prone to failure or losing data. Decentralized data storage makes loss of data almost impossible by distributing your files to numerous clients that hold tiny pieces of your data. Remember Torrents? Torrents use a peer-to-peer network. It is similar to that. Many users maintain copies of the same file, when someone wants a copy of that file, they send a request to the peer-to-peer network., users who have the file, known as seeds, send fragments of the file to the requester. The requester receives many fragments from many different seeds, and the torrent software recompiles these fragments to form the original file.
  1. Gbyte: Byteball data is stored and ordered using directed acyclic graph (DAG) rather than blockchain. This allows all users to secure each other's data by referencing earlier data units created by other users, and also removes scalability limits common for blockchains, such as blocksize issue.
  2. Siacoin: Siacoin is decentralized storage platform. Distributes encrypted files to thousands of private users who get paid for renting out their disk space. Anybody with siacoins can rent storage from hosts on Sia. This is accomplish via "smart" storage contracts stored on the Sia blockchain. The smart contract provides a payment to the host only after the host has kept the file for a given amount of time. If the host loses the file, the host does not get paid.
  3. Maidsafecoin: MaidSafe stands for Massive Array of Internet Disks, Secure Access for Everyone.Instead of working with data centers and servers that are common today and are vulnerable to data theft and monitoring, You can think of SAFE as a crowd-sourced internet. It’s an autonomous network that automatically sets prices and distributes data and rents out hard drive disk space with a Blockchain-based storage solutions.When you upload a file to the network, such as a photo, it will be broken into pieces, hashed, and encrypted. Then, redundant copies of the data are created as well so that if someone storing your file turns off their computer, you will still have access to your data. And don’t worry, even with pieces of your data on other people’s computers, they won’t be able to read them. You can earn MadeSafeCoins by participating in storing data pieces from the network on your computer and thus earning a Proof of Resource.
  4. Storj: Storj aims to become a cloud storage platform that can’t be censored or monitored, or have downtime. Your files are encrypted, shredded into little pieces called 'shards', and stored in a decentralized network of computers around the globe. No one but you has a complete copy of your file, not even in an encrypted form.

Market 11 - Cloud computing

Obviously, renting computing power, one of the biggest emerging markets as of recent years, e.g. AWS and Digital Ocean, is also a service, which can be bought and managed via the blockchain.
  1. Golem: Allows easy use of Supercomputer in exchange for tokens. People worldwide can rent out their computers to the network and get paid for that service with Golem tokens.
  2. Elf: Allows easy use of Cloud computing in exchange for tokens.

Market 12 - Stablecoin

Last but not least, there are 2 stablecoins that have established themselves within the market. A stable coin is a coin that wants to be independent of the volatility of the crypto markets. This has worked out pretty well for Maker and DGD, accomplished through a carefully diversified currency fund and backing each token by 1g or real gold respectively. DO NOT CONFUSE DGD AND MAKER with their STABLE COINS DGX and DAI. DGD and MAKER are volatile, because they are the companies of DGX and DAI. DGX and DAI are the stable coins.
  1. DGD: Platform of the Stablecoin DGX. Every DGX coin is backed by 1g of gold and make use proof of asset consensus.
  2. Maker: Platform of the Stablecoin DAI that doesn't vary much in price through widespread and smart diversification of assets.
  3. USDT: is no cryptocurrency really, but a replacement for dollar for trading After months of asking for proof of dollar backing, still no response from Tether.
EDIT: Added a risk factor from 0 to 10. Significant scandals, mishaps, shady practices, questionable technology, increase the risk factor. Not having a product yet automatically means a risk factor of 6. Strong adoption and thus strong scrutiny or positive community lower the risk factor.
EDIT2: Added a subjective potential factor from 0 to 10, where its overall potential and a small or big market cap is factored in. Bitcoin with lots of potential only gets a 9, because of its massive market cap, because if Bitcoin goes 10x, smaller coins go 100x.
submitted by galan77 to ethtrader [link] [comments]

What can I do with a spare Antminer t9+ when its too expensive to run it 24/7?

When the bitcoin hype was big, I made some decent money buying and selling Antminers on ebay. Unfortunately when the crash happened I got stuck with one left in inventory. Since then I run it occasionally, but I live in a place where electricity is stupid expensive. Right now running my T9+ is basically burning money, because if it costs (theoretically) 50$ to run each month in electricity, but I could purchase substantially more btc from coinbase with the same 50$ each month, then that means basically every mining machine in the united states is basically a paperweight unless you are on solar.

So does anyone have any ideas on what I could do with this miner? Are there other SHA256 coins that are compatible with the T9+? Are there any cool science/computing type projects I could put the miner to work on, or could I even part out the hashing boards to someone? I'm open to all ideas.
submitted by teal_bot to Bitcoin [link] [comments]

Effect of falling BTC price on mining difficulty

If my calculations are correct then, assuming you wouldn't mine if you couldn't pay back your equipment costs in one year, the critical values for btc/usd are:
power cost btc price c/kWh btc/usd 5 8500 10 11500 15 13000 
If the price does fall to $8500, are there enough miners running on 5c/kWh power to maintain the difficulty at its current rate of increase or must it fall?
submitted by IanWorthington to BitcoinMining [link] [comments]

[USA-IL] [H] Sapphire RX 580 8GB [W] Paypal, ETH, Cash

** EDIT ** I AM WILLING TO TRADE 3 RX 580 for 2 NVIDIA GTX 1070, JUST PM ME.

EDIT!!! PLEASE NOTE

I'm interested in selling a few Sapphire RX 580s. The part number is 113-1E3660U-O51. All of these GPUs are currently active in a cryptocurrency mining operation. They have been in a clean environment (datacenter). They have been properly cared for and most certainly been kept in a temperature controlled environment.
In addition, they have been set to run quite frugally comparatively to the suggested settings in the wild. If you are familiar with mining I'd like to be transparent, they have been ran at 1140/2100 @ 850mV with a powertune of 2. The power consumption has been around 140W at the wall and they have not been dual mined.
TIMESTAMP
WHAT YOU GET
You will get a card pre-flashed with my BIOS. So if you're interested in mining, it will mine out of the box. If you're not, flash it to stock, the stock BIOS is listed below.
PRICING
Quantity Price
1 $350 shipped CONUS
2 $355 each, shipped, CONUS
3 $360 each, shipped, CONUS
4 $365 each, shipped, CONUS
5 $370 each, shipped, CONUS
10 $400 each, shipped, CONUS
You get the point. For every additional card you want past 1, it will cost you $5 more per card, shipped. The cap is $400 per card. This is to deter all of the cards going to one party as I feel the price is within reason based on current market conditions.
PAYMENT OPTIONS
FAQ
Questions Answers
What card is this exactly? These cards are Sapphire NITRO+ Radeon RX 580 8GB. These cards have a part number of 113-1E3660U-O51. The stock BIOS on these cards can be downloaded here: 256K BIOS
Have they been used to mine cryptocurrencies? Yes.
How long have the been used to mine cryptocurrencies? 6 months.
Were they bought new and are you the first owner? Yes.
What's in the box? You will get a box, most likely not the box it came in. It will not be the retail box, it will be a brown box that they were shipped to us in (from Sapphire).
What's on the card? The GPU will be flashed with my custom BIOS that is used to mine ETH at the moment. It is a power conservative BIOS that is stable at 1140/2100-2150 @ 850mV @ 28.7MH/s running sgminer-gm. You are free to flash it however you want, stock BIOS is in the first FAQ!
Warranty? I'm afraid not. SAPPHIRE says non transferrable. However, these cards are 100% working cards. I will honor any reasonable "this doesn't work scenario"
Will you take pictures of the card before you send it? You bet, happy to send over any other information to interested parties! Just post here and PM me, happy to discuss.
When can you ship? I will start shipping cards on Wednesday. Hopefully right away If you send payment and we confirm, most likely will ship same day. These will be coming off of LIVE machines. Most likely will be USPS or UPS general ground, non priority shipping, with tracking, signature.
Returns? None. But I will guarantee you a 100% working card. If something seems defective we will work it out.
I will be a little unresponsive this evening but will get to you as soon as I can!
EDIT @ 8:51PM CT on 1/30/2018
I am a bit unresponsive to PMs, but I promise you I have a list of everyone who is interested. I will keep a running table below of parties who I am in communication with. If your name is not below than I do not have you in my list.
Name Status
turk-fx Sent invoice, PAID, SHIPPED! DELIVERED CONFIRMED
Sensory290997 Sent invoice, PAID, SHIPPED! DELIVERED CONFIRMED
spacecake12 Sent invoice, PAID, SHIPPED! DELIVERED CONFIRMED
cousineddie58 Sent invoice, PAID, SHIPPED! DELIVERED PENDING CONFIRMATION
illfaded_ Sent invoice, PAID, SHIPPED! DELIVERED CONFIRMED
KILLERALL5385 Sent invoice, PAID, SHIPPED! DELIVERED PENDING CONFIRMATION
ChillSpaceCadet Sent invoice, PAID, SHIPPED! DELIVERED CONFIRMED
Eccs15 Sent invoice, PAID, SHIPPED! DELIVERED CONFIRMED
submitted by KoSoVaR to hardwareswap [link] [comments]

Is this legit and should I buy it now?

Is this legit and should I buy it now? submitted by digi928 to BitcoinMining [link] [comments]

Cryptocurrency: Is It Still Alive or Dying? Part 2.

Cryptocurrency: Is It Still Alive or Dying? Part 2.
Part 2. Political and Economic Trends in Favor of the Cryptocurrency Market Development

In the first part of the story we showed that the cryptocurrency market crash in 2018 and the beginning of its recovery in 2019 fit well into the general patterns of the financial bubbles’ development, and also repeat pretty well the Bitcoin dynamics of 2014-2016. But besides the analogies with other bubbles, there are a lot of other arguments in favor of the global growth of the market, among which are the political and economic trends of the recent years.

Relaxation of the Political Climate around the Cryptoassets

The entire year of 2017 has witnessed heated discussions as to the legal status of the digital assets. One of the central events of the year was their legalization in Japan in April. Precisely this legalization, according to many, spurred a dramatic growth of the cryptocurrency market in May (especially, altcoins). But the majority of other countries during this period held more skeptical positions.

The U.S. government on several occasions refused to register bitcoin-ETF - exchange-traded funds, the price of shares in which would repeat the price of BTC. The U.S. government also extremely tightened the conditions of the ICO procedure, while some countries, such as China and South Korea - have banned it completely. Certain countries, such as Indonesia and Salvador, have banned cryptocurrencies to the extent of criminal responsibility.

A number of countries, including Russia, have adopted a cautious wait-and-see attitude, regularly promising to impose restrictions of varying severity, but not hurrying to sign it into law.

A turning point on the way to the global recognition of the cryptocurrency was the beginning of trading the Bitcoin futures at the Chicago exchanges (CME) (the world’s largest stock exchange in terms of turnover) and CBOE in December of 2017. That is when the American government admitted openly that cryptocurrencies are now to be reckoned with. With the beginning of this trade, the powerful financial circles of the USA, whose opinion cannot be ignored by the political leadership, became interested in the development of the cryptocurrency market.

Chicago Mercantile Exchange, CME – the world leader in terms of trade volume

In 2018, the following paradox became obvious: even if over the longer term cryptocurrencies are dangerous for the modern political system (tied up in the central banks and the currency exchange regulation), the countries that will be the first to prohibit them will be most affected along with those countries that will simply overdo stirring up negative attitude. Those countries that will settle on legalization will benefit. The drain of brains and capitals will be directed to these countries from the more repressive or unpredictable countries. A typical example of that - Crypto Project GRAM of the Russian businessman Pavel Durov, whose ICO in 2018 reached a record amount, but it was carried out in USA, and not in the legislatively uncertain Russian Federation.

The experience of the countries that have legalized the cryptocurrencies, proved successful both from the financial standpoint, and from the perspective of the international prestige. They proved themselves to be open to the progress and new freedoms. In addition to Japan, Switzerland is especially noteworthy here, because it legalized cryptocurrencies as early as in 2016, but the most brilliantly announced about itself in 2018, when its banks began to introduce cryptocurrency services one after another. Among the innovator banks there was even a Swiss subsidiary of the Russian Savings Bank (Sberbank). The very expression “Swiss bank” became a synonym of not only high reliability, but also innovation.
A milestone event of 2018 was legalization of cryptocurrencies in Germany – the leading economy of the European Union. Rather liberal measures relative to the cryptocurrencies are being applied today in Czechia, Sweden, Canada, Denmark, Australia, Estonia, Norway, Finland, and a number of other countries.

“Legalization parade” has shown: the politicians with repressive attitudes cannot count on the global ban of the cryptocurrencies (which seemed theoretically possible in 2016-2017). Economically developed countries made an obvious choice: “if you cannot stop the process – become its leader”. And precisely in these countries the maximum capitals are being circulated, and the market situation depends precisely on their business activity.

Explosive Growth of the Retail Use of Cryptocurrencies
Despite obvious popularization of cryptocurrencies, there is still a myth that they are purely investment and speculative instrument, which, even if used as a payment method – only in the dark net, and as a means of payment for illegal commodities. But this is not the case today. As far back as 2013-2015, legal services accepting bitcoin emerged, and in 2016-2018 their market has undergone explosive growth.

The pioneers of the cryptocurrency market of goods and services in 2013, were, for example, Virgin Galactic – space tourism company, Victoria’s Secret lingerie company, Shopify - a supplier of software for the online stores. In 2014, the cryptocurrency was adopted by the Overstock online store, Expedia tourism service, Zynga – operator of the online games, the software monster Microsoft and many others. Some of these companies considerably went up due to the innovations: for example, the shares of Shopify and Overstock have increased in price several-fold since then.

As of today, the cryptocurrency is accepted by hundreds of large companies and thousands of small ones, while the range of their products is approaching the one in a traditional economy. The most popular categories of the goods for the cryptocurrency in the large famous companies are tourism and air tickets (Expedia), software and games (Microsoft, Shopify, Zynga, Steam), clothing and other consumer goods (Victoria’s Secret, Overstock.com, Rakuten), as well as food products (Subway, KFC, Burger King – in Russia). As an example, Playboy erotic products, premium accounts of the 4chan.org and reddit.com forums, Bloomberg.com business news, automobiles in the Czech show room Alza and many other goods can be also purchased for cryptocurrency.

A number of well-known companies, although they prefer traditional payments, nevertheless allow crypto payments through the intermediary services, such as gyft.com (trading with the card Gyft for BTC). For example, Ebay online store, Wallmart supermarket chain, Starbucks restaurants, Uber taxi service, etc. The turnover of gyft.com is evaluated in the amount of 25 million dollars with only 38 employees.
Small start-up companies often use ready-made multicurrency gateways such as coinpayments.net. It supports dozens of currencies, and hosts about 400 companies. In addition to mainstream, it contains a lot of specialized commodities. For example, crypto-armory.com sells cartridges, francvila.com – Swiss watches, directvoltage.com - 3D-printers, electric motors, CNC machines, etc. Some new stores not only accept cryptocurrencies, but also purposely give up fiat currency. For example, crypto-armory.com, explaining their refusal from fiat currency, state both ideological, and narrow pragmatic reasons. In the opinion of the owners of the store, it is easier to accept cryptocurrency payments both technically and legally.

Cartridges from the cryptocurrency store crypto-armory.com
An important trend of 2017-2018, in addition to the general growth of the commodity market - re-orientation of the stores to the multi-currency payments. Whereas previously most of them accepted only BTC, now a sign of good manners is to accept also LTC, ETH, XMR and at least several more currencies.

Thus, while the politicians were solving the problem in the manner “not possible to allow - disallow”, a vast market of commodities for cryptocurrency spontaneously emerged on the Internet. Some of its participants have multibillion capitalizations. This market is very international. The majority of commodities and services can be bought even from Russia and other countries, where cryptocurrency is not legal as an internal payment instrument, but is not prohibited as such. Today, it is hard to imagine a consumer good, which cannot be bought for cryptocurrency.

The Latest Trend – Support of Cryptocurrencies by Smartphones

The first smartphone with a cryptocurrency wallet was HYPERLINK "https://bitcryptonews.ru/blogs/sravnenie-blokchejn-smartfonov-exodus-1-i-finney"HTC Exodus 1, released in the autumn of 2018. Then, a crypto smartphone HYPERLINK emerged "https://bitcryptonews.ru/blogs/obzor-kriptosmartfona-finney"Finney. And in March of 2019, the baton was unexpectedly picked up by the smartphone from the major South Korean company, Samsung - Galaxy S10. And although Samsung refrained from the direct embedding of the cryptocurrency wallet into the standard supply set, a brand wallet of Samsung can be installed from the Galaxy Store.

Galaxy S10 – the first smartphone from Samsung with cryptocurrency support

On the part of crypto enthusiasts, there are a number of claims to Samsung initiative, among which – the lack of bitcoin support (BTC). At the moment, Samsung Blockchain Wallet supports only Ethereum (ETH) and ERC-20 standard currencies and tokens created on its basis:
Basic Attention Token (BAT), Chainlink (LINK), BinanceCoin (BNB), True USD (TUSD), USD Coin (USDC), Paxos Standard (PAX) and others.

Anyway, from a political and PR perspective, the emergence of Galaxy S10 is a great event.

First of all, smartphone can attract to the cryptocurrency market new people who have greater confidence in the famous brand, than in the traditional bulky cryptocurrency wallets. Now, many people are frightened away from the cryptocurrencies only by technical difficulties, whereas smartphones on many occasions have proved their ability to promote to the masses those things, which previously seemed to be very complex.
Secondly, this step of Samsung is a clear signal both to the domestic and foreign governments: big business is on the side of the new technologies. South Korea has a reputation of a country not very friendly to cryptocurrencies, however, its business giant publicly demonstrated another attitude.
Thirdly, the initiative of Samsung with a high degree of probability will be emulated by other leading producers of communication devices. Thus, shortly after the release of Galaxy S10, there appeared a news that a cryptocurrency wallet will soon be available in iOS Opera Touch, which means that cryptocurrencies can be also stored in iPhone of Apple.
All this creates excellent prerequisites both for the world legalization of the cryptocurrencies, and for the growth of the market due to the increase of the number of users.

Conclusion
Thus, despite the “roller coaster” of the cryptocurrency exchange rates, some fundamental processes have developed steadily in the same direction in the recent years: expansion of the commodity market for cryptocurrency, increase in the number of countries with a liberal attitude to cryptocurrencies, adoption of cryptocurrencies as a strategic technology by more and more industrial giants. The total number of individuals who tried to work with the cryptocurrencies grows steadily, while the new technological trends (in particular, crypto smartphones), can additionally accelerate this growth.

The only thing that can seriously damage a cryptocurrency market is its global ban, but it seems to be unlikely. Right now there are about 40 million bitcoin wallets on earth. It is believed that on average their number is doubled annually, which means that within 5 years it can reach a billion. And if now a global ban on cryptocurrencies is unrealistic due to their profitability for the developed countries, by that time their prohibition will become impossible almost physically.

In the first part of the story we had put forward the arguments as to why the investors need not fear the bubble of 2017-2018: in the end, the bubble showed not so much the riskiness of the crypto investments, but rather their long-term prospects. Today we described political and economic events, which have occurred in parallel “behind the scenes”, and in which there were no “drops” – only progressive development toward the construction of the crypto economy. And in the next, third part, we will try to describe in detail specific financial reasons of the collapse and recovery of the market in 2018-2019.

Analytical department, Trident company, Victor Argonov, Candidate of Physical and Mathematical Sciences.
Source:http://trident-germes.com/
https://www.facebook.com/Germes.mining.robot/
submitted by TridentGermes to u/TridentGermes [link] [comments]

Cryptocurrency: Is It Still Alive or Dying? Part 2

Cryptocurrency: Is It Still Alive or Dying? Part 2
Cryptocurrency: Is It Still Alive or Dying?
Part 2. Political and Economic Trends in Favor of the Cryptocurrency Market Development

In the first part of the story we showed that the cryptocurrency market crash in 2018 and the beginning of its recovery in 2019 fit well into the general patterns of the financial bubbles’ development, and also repeat pretty well the Bitcoin dynamics of 2014-2016. But besides the analogies with other bubbles, there are a lot of other arguments in favor of the global growth of the market, among which are the political and economic trends of the recent years.

Relaxation of the Political Climate around the Cryptoassets

The entire year of 2017 has witnessed heated discussions as to the legal status of the digital assets. One of the central events of the year was their legalization in Japan in April. Precisely this legalization, according to many, spurred a dramatic growth of the cryptocurrency market in May (especially, altcoins). But the majority of other countries during this period held more skeptical positions.

The U.S. government on several occasions refused to register bitcoin-ETF - exchange-traded funds, the price of shares in which would repeat the price of BTC. The U.S. government also extremely tightened the conditions of the ICO procedure, while some countries, such as China and South Korea - have banned it completely. Certain countries, such as Indonesia and Salvador, have banned cryptocurrencies to the extent of criminal responsibility.

A number of countries, including Russia, have adopted a cautious wait-and-see attitude, regularly promising to impose restrictions of varying severity, but not hurrying to sign it into law.

A turning point on the way to the global recognition of the cryptocurrency was the beginning of trading the Bitcoin futures at the Chicago exchanges (CME) (the world’s largest stock exchange in terms of turnover) and CBOE in December of 2017. That is when the American government admitted openly that cryptocurrencies are now to be reckoned with. With the beginning of this trade, the powerful financial circles of the USA, whose opinion cannot be ignored by the political leadership, became interested in the development of the cryptocurrency market.
Chicago Mercantile Exchange, CME – the world leader in terms of trade volume

In 2018, the following paradox became obvious: even if over the longer term cryptocurrencies are dangerous for the modern political system (tied up in the central banks and the currency exchange regulation), the countries that will be the first to prohibit them will be most affected along with those countries that will simply overdo stirring up negative attitude. Those countries that will settle on legalization will benefit. The drain of brains and capitals will be directed to these countries from the more repressive or unpredictable countries. A typical example of that - Crypto Project GRAM of the Russian businessman Pavel Durov, whose ICO in 2018 reached a record amount, but it was carried out in USA, and not in the legislatively uncertain Russian Federation.

The experience of the countries that have legalized the cryptocurrencies, proved successful both from the financial standpoint, and from the perspective of the international prestige. They proved themselves to be open to the progress and new freedoms. In addition to Japan, Switzerland is especially noteworthy here, because it legalized cryptocurrencies as early as in 2016, but the most brilliantly announced about itself in 2018, when its banks began to introduce cryptocurrency services one after another. Among the innovator banks there was even a Swiss subsidiary of the Russian Savings Bank (Sberbank). The very expression “Swiss bank” became a synonym of not only high reliability, but also innovation.

A milestone event of 2018 was legalization of cryptocurrencies in Germany – the leading economy of the European Union. Rather liberal measures relative to the cryptocurrencies are being applied today in Czechia, Sweden, Canada, Denmark, Australia, Estonia, Norway, Finland, and a number of other countries.

“Legalization parade” has shown: the politicians with repressive attitudes cannot count on the global ban of the cryptocurrencies (which seemed theoretically possible in 2016-2017). Economically developed countries made an obvious choice: “if you cannot stop the process – become its leader”. And precisely in these countries the maximum capitals are being circulated, and the market situation depends precisely on their business activity.

Explosive Growth of the Retail Use of Cryptocurrencies

Despite obvious popularization of cryptocurrencies, there is still a myth that they are purely investment and speculative instrument, which, even if used as a payment method – only in the dark net, and as a means of payment for illegal commodities. But this is not the case today. As far back as 2013-2015, legal services accepting bitcoin emerged, and in 2016-2018 their market has undergone explosive growth.

The pioneers of the cryptocurrency market of goods and services in 2013, were, for example, Virgin Galactic – space tourism company, Victoria’s Secret lingerie company, Shopify - a supplier of software for the online stores. In 2014, the cryptocurrency was adopted by the Overstock online store, Expedia tourism service, Zynga – operator of the online games, the software monster Microsoft and many others. Some of these companies considerably went up due to the innovations: for example, the shares of Shopify and Overstock have increased in price several-fold since then.

As of today, the cryptocurrency is accepted by hundreds of large companies and thousands of small ones, while the range of their products is approaching the one in a traditional economy. The most popular categories of the goods for the cryptocurrency in the large famous companies are tourism and air tickets (Expedia), software and games (Microsoft, Shopify, Zynga, Steam), clothing and other consumer goods (Victoria’s Secret, Overstock.com, Rakuten), as well as food products (Subway, KFC, Burger King – in Russia). As an example, Playboy erotic products, premium accounts of the 4chan.org and reddit.com forums, Bloomberg.com business news, automobiles in the Czech show room Alza and many other goods can be also purchased for cryptocurrency.

A number of well-known companies, although they prefer traditional payments, nevertheless allow crypto payments through the intermediary services, such as gyft.com (trading with the card Gyft for BTC). For example, Ebay online store, Wallmart supermarket chain, Starbucks restaurants, Uber taxi service, etc. The turnover of gyft.com is evaluated in the amount of 25 million dollars with only 38 employees.
Small start-up companies often use ready-made multicurrency gateways such as coinpayments.net. It supports dozens of currencies, and hosts about 400 companies. In addition to mainstream, it contains a lot of specialized commodities. For example, crypto-armory.com sells cartridges, francvila.com – Swiss watches, directvoltage.com - 3D-printers, electric motors, CNC machines, etc. Some new stores not only accept cryptocurrencies, but also purposely give up fiat currency. For example, crypto-armory.com, explaining their refusal from fiat currency, state both ideological, and narrow pragmatic reasons. In the opinion of the owners of the store, it is easier to accept cryptocurrency payments both technically and legally.

Cartridges from the cryptocurrency store crypto-armory.com
An important trend of 2017-2018, in addition to the general growth of the commodity market - re-orientation of the stores to the multi-currency payments. Whereas previously most of them accepted only BTC, now a sign of good manners is to accept also LTC, ETH, XMR and at least several more currencies.

Thus, while the politicians were solving the problem in the manner “not possible to allow - disallow”, a vast market of commodities for cryptocurrency spontaneously emerged on the Internet. Some of its participants have multibillion capitalizations. This market is very international. The majority of commodities and services can be bought even from Russia and other countries, where cryptocurrency is not legal as an internal payment instrument, but is not prohibited as such. Today, it is hard to imagine a consumer good, which cannot be bought for cryptocurrency.

The Latest Trend – Support of Cryptocurrencies by Smartphones

The first smartphone with a cryptocurrency wallet was HYPERLINK "https://bitcryptonews.ru/blogs/sravnenie-blokchejn-smartfonov-exodus-1-i-finney"HTC Exodus 1, released in the autumn of 2018. Then, a crypto smartphone HYPERLINK emerged "https://bitcryptonews.ru/blogs/obzor-kriptosmartfona-finney"Finney. And in March of 2019, the baton was unexpectedly picked up by the smartphone from the major South Korean company, Samsung - Galaxy S10. And although Samsung refrained from the direct embedding of the cryptocurrency wallet into the standard supply set, a brand wallet of Samsung can be installed from the Galaxy Store.

https://preview.redd.it/p8zc6dat0ay21.jpg?width=1280&format=pjpg&auto=webp&s=d7f173f7470107c2f4cc5868ed882089499b2a09
Galaxy S10 – the first smartphone from Samsung with cryptocurrency support
On the part of crypto enthusiasts, there are a number of claims to Samsung initiative, among which – the lack of bitcoin support (BTC). At the moment, Samsung Blockchain Wallet supports only Ethereum (ETH) and ERC-20 standard currencies and tokens created on its basis:
Basic Attention Token (BAT), Chainlink (LINK), BinanceCoin (BNB), True USD (TUSD), USD Coin (USDC), Paxos Standard (PAX) and others.

Anyway, from a political and PR perspective, the emergence of Galaxy S10 is a great event.

First of all, smartphone can attract to the cryptocurrency market new people who have greater confidence in the famous brand, than in the traditional bulky cryptocurrency wallets. Now, many people are frightened away from the cryptocurrencies only by technical difficulties, whereas smartphones on many occasions have proved their ability to promote to the masses those things, which previously seemed to be very complex.

Secondly, this step of Samsung is a clear signal both to the domestic and foreign governments: big business is on the side of the new technologies. South Korea has a reputation of a country not very friendly to cryptocurrencies, however, its business giant publicly demonstrated another attitude.

Thirdly, the initiative of Samsung with a high degree of probability will be emulated by other leading producers of communication devices. Thus, shortly after the release of Galaxy S10, there appeared a news that a cryptocurrency wallet will soon be available in iOS Opera Touch, which means that cryptocurrencies can be also stored in iPhone of Apple.

All this creates excellent prerequisites both for the world legalization of the cryptocurrencies, and for the growth of the market due to the increase of the number of users.

Conclusion

Thus, despite the “roller coaster” of the cryptocurrency exchange rates, some fundamental processes have developed steadily in the same direction in the recent years: expansion of the commodity market for cryptocurrency, increase in the number of countries with a liberal attitude to cryptocurrencies, adoption of cryptocurrencies as a strategic technology by more and more industrial giants. The total number of individuals who tried to work with the cryptocurrencies grows steadily, while the new technological trends (in particular, crypto smartphones), can additionally accelerate this growth.

The only thing that can seriously damage a cryptocurrency market is its global ban, but it seems to be unlikely. Right now there are about 40 million bitcoin wallets on earth. It is believed that on average their number is doubled annually, which means that within 5 years it can reach a billion. And if now a global ban on cryptocurrencies is unrealistic due to their profitability for the developed countries, by that time their prohibition will become impossible almost physically.

In the first part of the story we had put forward the arguments as to why the investors need not fear the bubble of 2017-2018: in the end, the bubble showed not so much the riskiness of the crypto investments, but rather their long-term prospects. Today we described political and economic events, which have occurred in parallel “behind the scenes”, and in which there were no “drops” – only progressive development toward the construction of the crypto economy. And in the next, third part, we will try to describe in detail specific financial reasons of the collapse and recovery of the market in 2018-2019.

Analytical department, Trident company, Victor Argonov, Candidate of Physical and Mathematical Sciences.
Source:http://trident-germes.com/
https://www.facebook.com/Germes.mining.robot/
submitted by TridentGermes to ENG [link] [comments]

BITCOIN DIVORCE – BITCOIN CORE VS BITCOIN CASH EXPLAINED

Bitcoin and Bitcoin Cash are confusing, especially to newbies. They are likely unaware of the history and reasoning for the existence of these two coins. This ignorance is likely persisted by the censorship practised at bitcoin and Bitcointalk.org for several years. (rbitcoinbanned includes examples of the censoring.)
Most of the following is an explanation of the history of Bitcoin, when there was only one Bitcoin. Then it explains the in-fighting and why it forked into two Bitcoins: 1) Bitcoin Legacy and 2) Bitcoin Cash, which happens in the last section (THE DIVORCE). Feel free to suggest edits or corrections. Later, I will publish this on Medium as well.
BITCOIN WAS AN INSTRUMENT OF WAR
For Satoshi Nakamoto, the creator, and the initial supporters, Bitcoin was more than just a new currency. It was an instrument of war.
Who are they fighting against?
The government and central banks.
There is an abundance of evidence of this, starting with Satoshi Nakamoto’s original software.
BATTLE FOR ONLINE GAMBLING
Governments around the world ban online gambling by banning their currency from being used as payment. The original Bitcoin software included code for Poker. Yes, Poker.
Here is the original code: https://github.com/trottieoriginal-bitcoin/blob/mastesrc/uibase.cpp
Search for “Poker”, “Deal Me Out”, “Deal Hand”, “Fold”, “Call”, “Raise”, “Leave Table”, “DitchPlayer”.
Bitcoin gave the middle finger to the government and found a way to get around their ban. In the initial years, it was mainly gambling operators that used Bitcoin, such as SatoshiDice. Was this a coincidence? Gambling is one of the best, if not, the best application for Bitcoin. It was no wonder that gambling operators embraced Bitcoin, including gambling mogul Calvin Ayre.
Bitcoin enabled people to rebel against the government in other ways as well, such as Silk Road, which enabled people to buy and sell drugs.
ANTI-GOVERNMENT LIBERTARIANS AND CYPHERPUNKS
Libertarians seek to maximize political freedom and autonomy. They are against authority and state power. Cypherpunks are activists advocating widespread use of cryptography as a route to social and political change. Their common thread is their dislike for the government.
Bitcoin was created by libertarians and cypherpunks.
Satoshi Nakamoto used cryptography mailing lists to communicate with other cypherpunks such as Wei Dai. Satoshi Nakamoto wrote:
“It’s very attractive to the libertarian viewpoint if we can explain it properly. I’m better with code than with words though.”
Satoshi Nakamoto was rebellious to government control. Someone argued with Satoshi by stating: “You will not find a solution to political problems in cryptography.” Satoshi replied:
"Yes, but we can win a major battle in the arms race and gain a new territory of freedom for several years.
Governments are good at cutting off the heads of a centrally controlled networks like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own.”
Nakamoto was critical of the central bank. He wrote:
"The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts.”
It is no wonder that the first supporters of Bitcoin were libertarians as well, who agreed with Satoshi’s ideology and saw the potential of Bitcoin to fulfill their ideology.
One of the biggest benefits that Bitcoin supporters want, is “censorship resistance”. What does this mean? It means: to be able to spend your money any way you want. It means: how to get around government regulations and bans. It means: how to do something despite the government.
Roger Ver, an early Bitcoin supporter, heavily criticizes the government for engaging in wars around the world that kills civilians and children. When he ran as a Libertarian candidate in an election against the Republicans and Democrats, he criticized the ATF and FBI for murdering children in their raid in Waco, Texas. At the time, Ver and many other merchants were selling fireworks on eBay without a license. The ATF charged Ver and sent him to prison, but did not charge any of the other merchants. (https://youtu.be/N6NscwzbMvI?t=47m50s) This must have angered Ver a lot.
Since then, Ver has been on a mission to weaken and shrink the government. When he learned about Bitcoin in February 2011, he saw it as his weapon to accomplish his goal…his instrument of war.
Ver was already a multi-millionaire entrepreneur. He sold his company, bought Bitcoins and was the first to invest in Bitcoin startups, such as Bitpay, Blockchain.info, Kraken, Bitcoin.com, Bitcoinstore.com and others. Then he worked full-time to promote Bitcoin. Bitpay became the largest Bitcoin payment processor. Blockchain.info became the largest provider of Bitcoin wallets. Much of the growth of Bitcoin since 2011 can be attributed to Ver's companies.
More evidence of Ver’s anti-government sentiment emerged when he recently announced that he is working to create a society with no government at all (FreeSociety.com).
HOW TO WIN THE WAR
To win the war, Bitcoin must be adopted and widely used by the masses. When people use Bitcoin instead of their national fiat currency, the government becomes weaker. The government can no longer do the following:
It is not only important to get the masses to adopt Bitcoin, but it is also important to get them to adopt it quickly. If it takes a long time, governments will have more time to think twice about allowing Bitcoin to exist and will have more justifications to ban it. They can claim that Bitcoin is used for ransomware, terrorism, etc. If Bitcoin is adopted by the masses to buy everyday goods, such as food and clothing, then it will be harder for them to stop it.
IS BITCOIN WINNING?
Yes and no.
Bitcoin has definitely become more popular over the years. But, it is not achieving Satoshi Nakamoto’s goals.
Satoshi defined Bitcoin and his goal. The title of his white paper is:
“Bitcoin: A Peer-to-Peer Electronic Cash System”
Is Bitcoin being used as cash? Unfortunately, it is not. It is being used as a store of value. However, the title of Satoshi’s white paper was not:
“Bitcoin: A Store of Value”
There is utility in having a store of value, of course. People need it and Bitcoin has superior features to gold. Therefore, it is likely that Bitcoin can continue gaining in popularity and price as it continues to compete and take market share away from gold.
However, both gold and Bitcoin are not being used as currency.
If Bitcoin does not replace fiat currencies, will it weaken governments? No, because no matter how many people buy gold or Bitcoin (as a store of value), they do not weaken governments. To do so, Bitcoin must replace fiat currencies.
BITCOIN LOSING TO FIAT
In the initial years, Bitcoin was taking market share from fiat currencies. But, in the past year, it is losing market share. Dell, Wikipedia and airlines have stopped accepting bitcoin. SatoshiDice and Yours switched to Bitcoin Cash. According to Businessinsider:
"Out of the leading 500 internet sellers, just three accept bitcoin, down from five last year.”
Why is Bitcoin losing market share to fiat? According to Businessinsider:
“when they do try to spend it, it often comes with high fees, which eliminates the utility for small purchases, or it takes a long time to complete the transaction, which could be a turn-off.”
Why are there high fees and long completion times?
Because of small blocks.
SCALING DEBATE – THE BIG MARITAL FIGHT
Why isn't the block size increased?
Because Core/Blockstream believes that big blocks lead to centralization to fewer people who can run the nodes. They also believe that off-chain solutions will provide faster and cheaper transactions. There are advocates for bigger blocks, but because Core/Blockstream control the software, Bitcoin still has the original, one megabyte block since 8 years ago. (Core developers control Bitcoin’s software and several of the key Core developers are employed by Blockstream, a private, for-profit company.)
Businesses, users and miners have asked for four years for the block size to be increased. They point out that Satoshi has always planned to scale Bitcoin by increasing the block size. For four years, Core/Blockstream has refused.
The Bitcoin community split into two factions:
This scaling debate and in-fighting went on for several years. You can read more about it at: https://np.reddit.com/BitcoinMarkets/comments/6rxw7k/informative_btc_vs_bch_articles/dl8v4lp/?st=jaotbt8m&sh=222ce783
SMALL BLOCKERS VS BIG BLOCKERS
Why has Blockstream refused to increase block size? There are a few possible reasons:
  1. They truly believe that big blocks means that fewer people would be able to run full nodes, which would lead to centralization and that the best roadmap is with off-chain solutions. (However, since 2009, hard disk space has exploded. A 4TB disk costs $100 and can store 10 years of blocks. This price is the equivalent to a handful of Bitcoin transaction fees. Also, Satoshi never planned on having every user run full nodes. He envisioned server farms. Decentralization is needed to achieve censorship-resistance and to make the blockchain immutable. This is already accomplished with the thousands of nodes. Having millions or billions of nodes does not increase the censorship-resistance and does not make the blockchain more immutable.)
  2. Blockstream wants small blocks, high fees and slow confirmations to justify the need for their off-chain products, such as Liquid. Blockstream sells Liquid to exchanges to move Bitcoin quickly on a side-chain. Lightning Network will create liquidity hubs, such as exchanges, which will generate traffic and fees for exchanges. With this, exchanges will have a higher need for Liquid. This is the only way that Blockstream will be able to repay the $76 million to their investors.
  3. They propose moving the transactions off the blockchain onto the Lightning Network, an off-chain solution. By doing so, there is a possibility of being regulated by the government (see https://np.reddit.com/btc/comments/7gxkvj/lightning_hubs_will_need_to_report_to_irs/). One of Blockstream’s investors/owners is AXA. AXA’s CEO and Chairman until 2016 was also the Chairman of Bilderberg Group. The Bilderberg Group is run by politicians and bankers. According to GlobalResearch, Bilderberg Group wants “a One World Government (World Company) with a single, global marketplace…and financially regulated by one ‘World (Central) Bank’ using one global currency.” Does Bilderberg see Bitcoin as one component of their master plan?
  4. They do not like the fact that most of the miners are in China. In this power-struggle, they would like to take away control and future revenues from China, by scaling off-chain.
Richard Heart gives his reasons why block size should not be increased, in this video: https://www.youtube.com/watch?time_continue=2941&v=iFJ2MZ3KciQ
He cites latency as a limitation and the reason for doing off-chain scaling. However, latency has been dramatically reduced since 2009 when Bitcoin started with 1MB blocks. Back then, most residential users had 5-10 Mbps internet speed. Now, they have up to 400 Mbps up to 1 Gbps. That’s a 40 to 200X increase. Back in 2009, nobody would’ve thought that you can stream 4k videos.
He implies that 10 minute intervals between block creations are needed in order for the blocks to sync. If internet speed has increased by 40-200X, why can’t the block size be increased?
He claims that bigger blocks make it more difficult for miners to mine the blocks, which increases the chances of orphaned blocks. However, both speeds and the number of mining machines have increased dramatically, causing hashing power on the network to exponentially increase since 2009. This will likely continue increasing in the future.
Richard says that blocks will never be big enough to do 2,000 transactions per second (tps). He says that all of the forks in the world is only going to get 9 tps. Since his statement, Peter Rizun and Andrew Stone have shown that a 1 core CPU machine with 3 Mbps internet speed can do 100 tps. (https://youtu.be/5SJm2ep3X_M) Rizun thinks that visa level (2,000 tps) can be achieved with nodes running on 4-core/16GB machines, bigger blocks and parallel processing to take advantage of the multiple CPU cores.
Even though Rizun and Stone are showing signifiant increases in tps with bigger blocks, the big blockers have never been against a 2nd layer. They’ve always said that you can add a 2nd layer later.
CORE/BLOCKSTREAM VS MINERS
According to Satoshi, Bitcoin should be governed by those with the most hashing power. One hash, one vote. However, Core/Blockstream does not agree with this. Due to refusals for four years to increase block size, it would seem that Core/Blockstream has been able to wrestle control away from miners. Is this because they want control? Is this because they don’t want the Chinese to have so much, or any, control of Bitcoin? Is this because they prefer to eventually move the revenue to the West, by moving most of the transactions off chain?
DIFFERENT AGENDAS
It would seem that Businesses/Users and Core/Blockstream have very different agendas.
Businesses/Users want cheap and fast transactions and see this as an immediate need. Core/Blockstream do not. Here are some quotes from Core/Blockstream:
Greg Maxwell: "I don't think that transaction fees mattering is a failing-- it's success!”
Greg Maxwell: "fee pressure is an intentional part of the system design and to the best of the current understanding essential for the system's long term survial. So, uh, yes. It's good."
Greg Maxwell: "There is a consistent fee backlog, which is the required criteria for stability.”
Peter Wuille: "we - as a community - should indeed let a fee market develop, and rather sooner than later”
Luke-jr: "It is no longer possible to keep fees low.”
Luke-jr: "Just pay a $5 fee and it'll go through every time unless you're doing something stupid.”
Jorge Timón: "higher fees may be just what is needed”
Jorge Timón: "Confirmation times are fine for those who pay high fees.”
Jorge Timón: “I think Adam and I agree that hitting the limit wouldn't be bad, but actually good for an young and immature market like bitcoin fees.”
Mark Friedenbach: "Slow confirmation, high fees will be the norm in any safe outcome."
Wladimir J. van der Laan: “A mounting fee pressure, resulting in a true fee market where transactions compete to get into blocks, results in urgency to develop decentralized off-chain solutions.”
Greg Maxwell: “There is nothing wrong with full blocks, and blocks have been “full” relative to what miners would produce for years. Full blocks is the natural state of the system”
Wladimir J. van der Laan: “A mounting fee pressure, resulting in a true fee market where transactions compete to get into blocks, results in urgency to develop decentralized off-chain solutions. I'm afraid increasing the block size will kick this can down the road and let people (and the large Bitcoin companies) relax”
Why don’t Core/Blockstream care about cheap and fast transactions? One possible reason is that they do not use Bitcoin. They might own some, but they do not spend it to buy coffee and they do not use it to pay employees. They aren’t making hundreds of transactions per day. They do not feel the pain. As engineers, they want a technical utopia.
Businesses/Users on the other hand, feel the pain and want business solutions.
An analogy of this scaling debate is this:
You have a car that is going 50 kph. The passengers (Bitcoin users) want to go 100 kph today, but eventually in the future, they want to go 200 kph. The car is capable of going 100 kph but not 200 kph. Big blockers are saying: Step on the accelerator and go 100 kph. Small blockers are saying: Wait until we build a new car, which will go 200 kph. Meanwhile, the passengers are stuck at 50 kph.
Not only do Big blockers think that the car can simply go faster by stepping on the accelerator, they have already shown that the car can go even faster by adding a turbocharger (even bigger blocks) and making sure that every cylinder is firing (parallel process on multiple CPU cores). In addition, they are willing to use the new car if and when it gets built.
CORE/BLOCKSTREAM VS USERS
If you watch this debate from 2017-02-27 (https://youtu.be/JarEszFY1WY), an analogy can be made. Core/Blockstream is like the IT department and Bitcoin.com (Roger Ver and Jake Smith) is like the Sales/Marketing department (users). Core/Blockstream developers hold, but do not use Bitcoin. Blockstream does not own nor use Bitcoin.
Roger Ver's companies used to use or still use Bitcoin every day. Ver’s MemoryDealers was the first company to accept Bitcoin. Johnny seems to think that he knows what users want, but he rarely uses Bitcoin and he is debating one of the biggest users sitting across the table.
In all companies, Marketing (and all other departments) are IT’s customer. IT must do what Marketing wants, not the other way around. If Core/Blockstream and Roger Ver worked in the same company, the CEO would tell Core/Blockstream to give Roger what he wants or the CEO would fire Core/Blockstream.
But they don’t work for the same company. Roger and other businesses/users cannot fire Core/Blockstream.
Core/Blockstream wants to shoot for the best technology possible. They are not interested in solving short term problems, because they do not see high fees and long confirmation times as problems.
BLOCKSTREAM VS LIBERTARIANS
There are leaders in each camp. One can argue that Blockstream is the leader of the Small Blockers and Roger Ver (supported by Gavin Andresen, Calvin Ayre, businesses and some miners) is the leader of the Big Blockers.
Blockstream has openly called for full blocks and higher fees and they are preparing to scale with Lightning Network. As mentioned before, there is a possibility that Lightning hubs will be regulated by the government. Luke-jr tweeted “But State has authority from God” (https://twitter.com/LukeDashjstatus/934611236695789568?s=08)
Roger Ver wants Bitcoin to regulate the government, not the other way around. He wants to weaken and shrink the government. In addition to separation of church and state, he wants to see separation of money and state. He felt that Bitcoin can no longer do this. He pushed for solutions such as Bitcoin Unlimited.
THE DIVORCE
To prepare for off-chain scaling, Core/Blockstream forked Bitcoin by adding Segwit, which I will refer to as Bitcoin Legacy. This is still referred to by the mainstream as Bitcoin, and it has the symbol BTC.
After four years of refusal by Blockstream, the big blockers, out of frustration, restored Bitcoin through a fork, by removing Segwit from Bitcoin Legacy and increased the block size. This is currently called Bitcoin Cash and has the symbol BCH.
Bitcoin Legacy has transformed from cash to store-of-value. It had a 8 year head start in building brand awareness and infrastructure. It’s likely that it will continue growing in popularity and price for a while.
Bitcoin Cash most resembles Satoshi’s “peer-to-peer cash”. It will be interesting to see if it will pick up from where Bitcoin Legacy left off and take market share in the fiat currency space. Libertarians and cypherpunks will be able to resume their mission of weakening and shrinking the government by promoting Bitcoin Cash.
Currently, Bitcoin Cash can fulfill the role of money, which includes medium of exchange (cash) and store-of-value functions. It will be interesting to see if off-chain scaling (with lower fees and faster confirmations) will enable Bitcoin Legacy to be used as a currency as well and fulfill the role of money.
This is an example of the free market and open competition. New companies divest or get created all the time, to satisfy different needs. Bitcoin is no different.
Small blockers and big blockers no longer need to fight and bicker in the same house. They have gone their separate ways.
Both parties have want they want. Blockstream can store value and generate revenue from their off-chain products to repay their investors. Libertarians (and gambling operators) can rejoice and re-arm with Bitcoin Cash to take on the government. They can continue with their mission to get freedom and autonomy.
submitted by curt00 to btc [link] [comments]

I GOT SCAMMED ON EBAY $11,000 SELLING A MINING RIG! S9 Bitcoin Miners Install Techniques from Ebay - Part 1 Bitcoin Mining Farm Shah Alam Clowerty.CC Cloud mining without deposit!Earn cloud mining without deposit Get a bonus of 100 GH/s Don't Get Ripped Off Buying Bitcoin or Mining Contracts on eBay

4. Bitcoin Mining Pools. Mining is an extremely competitive game. Even if you buy the best possible miner out there, you’re still at a huge disadvantage compared to professional Bitcoin mining farms.That’s why mining pools came into existence.. The idea is simple – miners group together to form a “pool” so they can combine their mining power and compete more effectively. Bitcoin Mining Hardware Guide The best Bitcoin mining hardware has evolved dramatically since 2009. At first, miners used their central processing unit (CPU) to mine, but soon this wasn't fast enough and it bogged down the system resources of the host computer. Miners quickly moved on to using the graphical processing unit (GPU) in computer graphics cards because they were able to hash data 50 The Bitcoin Antminer is a common bitcoin mining rig, and it is one of the common types of bitcoin mining equipment that is being used in the ever-growing virtual currency mining industry. Understanding more about these resources helps individuals make a more informed buying decision. 3. Notable Mining Hardware Companies Bitmain Technologies. The most well-known mining hardware manufacturer around, Bitmain was founded in 2013 in China and today has offices in several countries around the world. The company developed the Antminer, a series of ASIC miners dedicated to mining cryptocurrencies such as Bitcoin, Litecoin, and Dash.. Bitmain is also in charge of two of the largest What is Bitcoin Mining Hardware. The right bitcoin mining hardware is a necessity if you want to earn during bitcoin mining. Before, miners used a central processing unit (CPU) to mine, but it wasn’t fast enough.. So, miners moved on to using graphical processing unit (GPU) in computer graphics cards as they have data 50 to 100 times faster and consume less power per unit of work.

[index] [4160] [5454] [31103] [6653] [10008] [12638] [19196] [25969] [11580] [9462]

I GOT SCAMMED ON EBAY $11,000 SELLING A MINING RIG!

I GOT SCAMMED ON EBAY $11,000 SELLING A MINING RIG! How Much? ... Visit our merch store for mining equipment and more http ... How Much Can You Make Mining Bitcoin With 6X 1080 Ti Beginners ... New Bitcoin Mining Website 2020// Every Minute Claim Earn Bitcoin Zero Investment Site With Live Pro Make Free Bitcoin Cash By Using The Site 👇 link is Given Below 👇 Website Joining Link.... What to look out for when buying Bitcoins or Bitcoin mining contracts on eBay. This also includes resources to use when buying Bitcoin or mining Bitcoins. ... How The Economic Machine Works by Ray ... Ownernya ialah Bro Fariq,total mesin ada s9+s7..sendri mining sendri dpt hasil..xda upline downline makan pairing atas bawa kiri kanan..happy mining. New Launch Bitcoin Mining site New Bitcoin Mining site New Free Mining Site 2020 Free Bitcoin Websites Links 👉 Link In 1st Comment. Website link Video k 1st comment my hy.

Flag Counter