The top five biggest farms in the world for Bitcoin mining

Polkadot Launch AMA Recap

Polkadot Launch AMA Recap

The Polkadot Telegram AMA below took place on June 10, 2020

https://preview.redd.it/4ti681okap951.png?width=4920&format=png&auto=webp&s=e21f6a9a276d35bb9cdec59f46744f23c37966ef
AMA featured:
Dieter Fishbein, Ecosystem Development Lead, Web3 Foundation
Logan Saether, Technical Education, Web3 Foundation
Will Pankiewicz, Master of Validators, Parity Technologies
Moderated by Dan Reecer, Community and Growth, Polkadot & Kusama at Web3 Foundation

Transcription compiled by Theresa Boettger, Polkadot Ambassador:

Dieter Fishbein, Ecosystem Development Lead, Web3 Foundation

Dan: Hey everyone, thanks for joining us for the Polkadot Launch AMA. We have Dieter Fishbein (Head of Ecosystem Development, our business development team), Logan Saether (Technical Education), and Will Pankiewicz (Master of Validators) joining us today.
We had some great questions submitted in advance, and we’ll start by answering those and learning a bit about each of our guests. After we go through the pre-submitted questions, then we’ll open up the chat to live Q&A and the hosts will answer as many questions as they can.
We’ll start off with Dieter and ask him a set of some business-related questions.

Dieter could you introduce yourself, your background, and your role within the Polkadot ecosystem?

Dieter: I got my start in the space as a cryptography researcher at the University of Waterloo. This is where I first learned about Bitcoin and started following the space. I spent the next four years or so on the investment team for a large asset manager where I primarily focused on emerging markets. In 2017 I decided to take the plunge and join the space full-time. I worked at a small blockchain-focused VC fund and then joined the Polkadot team just over a year ago. My role at Polkadot is mainly focused on ensuring there is a vibrant community of projects building on our technology.

Q: Adoption of Polkadot of the important factors that all projects need to focus on to become more attractive to the industry. So, what is Polkadot's plan to gain more Adoption? [sic]

A (Dieter): Polkadot is fundamentally a developer-focused product so much of our adoption strategy is focused around making Polkadot an attractive product for developers. This has many elements. Right now the path for most developers to build on Polkadot is by creating a blockchain using the Substrate framework which they will later connect to Polkadot when parachains are enabled. This means that much of our adoption strategy comes down to making Substrate an attractive tool and framework. However, it’s not just enough to make building on Substrate attractive, we must also provide an incentive to these developers to actually connect their Substrate-based chain to Polkadot. Part of this incentive is the security that the Polkadot relay chain provides but another key incentive is becoming interoperable with a rich ecosystem of other projects that connect to Polkadot. This means that a key part of our adoption strategy is outreach focused. We go out there and try to convince the best projects in the space that building on our technology will provide them with significant value-add. This is not a purely technical argument. We provide significant support to projects building in our ecosystem through grants, technical support, incubatoaccelerator programs and other structured support programs such as the Substrate Builders Program (https://www.substrate.io/builders-program). I do think we really stand out in the significant, continued support that we provide to builders in our ecosystem. You can also take a look at the over 100 Grants that we’ve given from the Web3 Foundation: https://medium.com/web3foundation/web3-foundation-grants-program-reaches-100-projects-milestone-8fd2a775fd6b

Q: On moving forward through your roadmap, what are your most important next priorities? Does the Polkadot team have enough fundamentals (Funds, Community, etc.) to achieve those milestones?

A (Dieter): I would say the top priority by far is to ensure a smooth roll-out of key Polkadot features such as parachains, XCMP and other key parts of the protocol. Our recent Proof of Authority network launch was only just the beginning, it’s crucial that we carefully and successfully deploy features that allow builders to build meaningful technology. Second to that, we want to promote adoption by making more teams aware of Polkadot and how they can leverage it to build their product. Part of this comes down to the outreach that I discussed before but a major part of it is much more community-driven and many members of the team focus on this.
We are also blessed to have an awesome community to make this process easier 🙂

Q: Where can a list of Polkadot's application-specific chains can be found?

A (Dieter): The best list right now is http://www.polkaproject.com/. This is a community-led effort and the team behind it has done a terrific job. We’re also working on providing our own resource for this and we’ll share that with the community when it’s ready.

Q: Could you explain the differences and similarities between Kusama and Polkadot?

A (Dieter): Kusama is fundamentally a less robust, faster-moving version of Polkadot with less economic backing by validators. It is less robust since we will be deploying new technology to Kusama before Polkadot so it may break more frequently. It has less economic backing than Polkadot, so a network takeover is easier on Kusama than on Polkadot, lending itself more to use cases without the need for bank-like security.
In exchange for lower security and robustness, we expect the cost of a parachain lease to be lower on Kusama than Polkadot. Polkadot will always be 100% focused on security and robustness and I expect that applications that deal with high-value transactions such as those in the DeFi space will always want a Polkadot deployment, I think there will be a market for applications that are willing to trade cheap, high throughput for lower security and robustness such as those in the gaming, content distribution or social networking sectors. Check out - https://polkadot.network/kusama-polkadot-comparing-the-cousins/ for more detailed info!

Q: and for what reasons would a developer choose one over the other?

A (Dieter): Firstly, I see some earlier stage teams who are still iterating on their technology choosing to deploy to Kusama exclusively because of its lower-stakes, faster moving environment where it will be easier for them to iterate on their technology and build their user base. These will likely encompass the above sectors I identified earlier. To these teams, Polkadot becomes an eventual upgrade path for them if, and when, they are able to perfect their product, build a larger community of users and start to need the increased stability and security that Polkadot will provide.
Secondly, I suspect many teams who have their main deployment on Polkadot will also have an additional deployment on Kusama to allow them to test new features, either their tech or changes to the network, before these are deployed to Polkadot mainnet.

Logan Saether, Technical Education, Web3 Foundation

Q: Sweet, let's move over to Logan. Logan - could you introduce yourself, your background, and your role within the Polkadot ecosystem?

A (Logan): My initial involvement in the industry was as a smart contract engineer. During this time I worked on a few projects, including a reboot of the Ethereum Alarm Clock project originally by Piper Merriam. However, I had some frustrations at the time with the limitations of the EVM environment and began to look at other tools which could help me build the projects that I envisioned. This led to me looking at Substrate and completing a bounty for Web3 Foundation, after which I applied and joined the Technical Education team. My responsibilities at the Technical Education team include maintaining the Polkadot Wiki as a source of truth on the Polkadot ecosystem, creating example applications, writing technical documentation, giving talks and workshops, as well as helping initiatives such as the Thousand Validator Programme.

Q: The first technical question submitted for you was: "When will an official Polkadot mobile wallet appear?"

A (Logan): There is already an “official” wallet from Parity Technologies called the Parity Signer. Parity Signer allows you to keep your private keys on an air-gapped mobile device and to interactively sign messages using web interfaces such as Polkadot JS Apps. If you’re looking for something that is more of an interface to the blockchain as well as a wallet, you might be interested in PolkaWallet which is a community team that is building a full mobile interface for Polkadot.
For more information on Parity Signer check out the website: https://www.parity.io/signe

Q: Great thanks...our next question is: If someone already developed an application to run on Ethereum, but wants the interoperability that Polkadot will offer, are there any advantages to rebuilding with Substrate to run as a parachain on the Polkadot network instead of just keeping it on Ethereum and using the Ethereum bridge for use with Polkadot?

A (Logan): Yes, the advantage you would get from building on Substrate is more control over how your application will interact with the greater Polkadot ecosystem, as well as a larger design canvas for future iterations of your application.
Using an Ethereum bridge will probably have more cross chain latency than using a Polkadot parachain directly. The reason for this is due to the nature of Ethereum’s separate consensus protocol from Polkadot. For parachains, messages can be sent to be included in the next block with guarantees that they will be delivered. On bridged chains, your application will need to go through more routes in order to execute on the desired destination. It must first route from your application on Ethereum to the Ethereum bridge parachain, and afterward dispatch the XCMP message from the Polkadot side of the parachain. In other words, an application on Ethereum would first need to cross the bridge then send a message, while an application as a parachain would only need to send the message without needing to route across an external bridge.

Q: DOT transfers won't go live until Web3 removes the Sudo module and token holders approve the proposal to unlock them. But when will staking rewards start to be distributed? Will it have to after token transfers unlock? Or will accounts be able to accumulate rewards (still locked) once the network transitions to NPoS?

A (Logan): Staking rewards will be distributed starting with the transition to NPoS. Transfers will still be locked during the beginning of this phase, but reward payments are technically different from the normal transfer mechanism. You can read more about the launch process and steps at http://polkadot.network/launch-roadmap

Q: Next question is: I'm interested in how Cumulus/parachain development is going. ETA for when we will see the first parachain registered working on Kusama or some other public testnet like Westend maybe?

A (Logan): Parachains and Cumulus is a current high priority development objective of the Parity team. There have already been PoC parachains running with Cumulus on local testnets for months. The current work now is making the availability and validity subprotocols production ready in the Polkadot client. The best way to stay up to date would be to follow the project boards on GitHub that have delineated all of the tasks that should be done. Ideally, we can start seeing parachains on Westend soon with the first real parachains being deployed on Kusama thereafter.
The projects board can be viewed here: https://github.com/paritytech/polkadot/projects
Dan: Also...check out Basti's tweet from yesterday on the Cumulus topic: https://twitter.com/bkchstatus/1270479898696695808?s=20

Q: In what ways does Polkadot support smart contracts?

A (Logan): The philosophy behind the Polkadot Relay Chain is to be as minimal as possible, but allow arbitrary logic at the edges in the parachains. For this reason, Polkadot does not support smart contracts natively on the Relay Chain. However, it will support smart contracts on parachains. There are already a couple major initiatives out there. One initiative is to allow EVM contracts to be deployed on parachains, this includes the Substrate EVM module, Parity’s Frontier, and projects such as Moonbeam. Another initiative is to create a completely new smart contract stack that is native to Substrate. This includes the Substrate Contracts pallet, and the ink! DSL for writing smart contracts.
Learn more about Substrate's compatibility layer with Ethereum smart contracts here: https://github.com/paritytech/frontier

Will Pankiewicz, Master of Validators, Parity Technologies


Q: (Dan) Thanks for all the answers. Now we’ll start going through some staking questions with Will related to validating and nominating on Polkadot. Will - could you introduce yourself, your background, and your role within the Polkadot ecosystem?

A (Will): Sure thing. Like many others, Bitcoin drew me in back in 2013, but it wasn't until Ethereum came that I took the deep dive into working in the space full time. It was the financial infrastructure aspects of cryptocurrencies I was initially interested in, and first worked on dexes, algorithmic trading, and crypto funds. I really liked the idea of "Generalized Mining" that CoinFund came up with, and started to explore the whacky ways the crypto funds and others can both support ecosystems and be self-sustaining at the same time. This drew me to a lot of interesting experiments in what later became DeFi, as well as running validators on Proof of Stake networks. My role in the Polkadot ecosystem as “Master of Validators” is ensuring the needs of our validator community get met.

Q: Cool thanks. Our first community question was "Is it still more profitable to nominate the validators with lesser stake?"

A (Will): It depends on their commission, but generally yes it is more profitable to nominate validators with lesser stake. When validators have lesser stake, when you nominate them this makes your nomination stake a higher percentage of total stake. This means when rewards get distributed, it will be split more favorably toward you, as rewards are split by total stake percentage. Our entire rewards scheme is that every era (6 hours in Kusama, 24 hours in Polkadot), a certain amount of rewards get distributed, where that amount of rewards is dependent on the total amount of tokens staked for the entire network (50% of all tokens staked is currently optimal). These rewards from the end of an era get distributed roughly equally to all validators active in the validator set. The reward given to each validator is then split between the validators and all their nominators, determined by the total stake that each entity contributes. So if you contribute to a higher percentage of the total stake, you will earn more rewards.

Q: What does priority ranking under nominator addresses mean? For example, what does it mean that nominator A has priority 1 and nominator B has priority 6?

A (Will): Priority ranking is just the index of the nomination that gets stored on chain. It has no effect on how stake gets distributed in Phragmen or how rewards get calculated. This is only the order that the nominator chose their validators. The way that stake from a nominator gets distributed from a nominator to validators is via Phragmen, which is an algorithm that will optimally put stake behind validators so that distribution is roughly equal to those that will get in the validator set. It will try to maximize the total amount at stake in the network and maximize the stake behind minimally staked validators.

Q: On Polkadot.js, what does it mean when there are nodes waiting on Polkadot?

**A (Will):**In Polkadot there is a fixed validator set size that is determined by governance. The way validators get in the active set is by having the highest amount of total stake relative to other validators. So if the validator set size is 100, the top 100 validators by total stake will be in the validator set. Those not active in the validator set will be considered “waiting”.

Q: Another question...Is it necessary to become a waiting validator node right now?

A (Will): It's not necessary, but highly encouraged if you actively want to validate on Polkadot. The longer you are in the waiting tab, the longer you get exposure to nominators that may nominate you.

Q: Will current validators for Kusama also validate for Polkadot? How strongly should I consider their history (with Kusama) when looking to nominate a good validator for DOTs?

A (Will): A lot of Kusama validators will also be validators for Polkadot, as KSM was initially distributed to DOT holders. The early Kusama Validators will also likely be the first Polkadot validators. Being a Kusama validator should be a strong indicator for who to nominate on Polkadot, as the chaos that has ensued with Kusama has allowed validators to battle test their infrastructure. Kusama validators by now are very familiar with tooling, block explorers, terminology, common errors, log formats, upgrades, backups, and other aspects of node operation. This gives them an edge against Polkadot validators that may be new to the ecosystem. You should strongly consider well known Kusama validators when making your choices as a nominator on Polkadot.

Q: Can you go into more details about the process for becoming a DOT validator? Is it similar as the KSM 1000 validators program?

A (Will): The Process for becoming a DOT validators is first to have DOTs. You cannot be a validator without DOTs, as DOTs are used to pay transaction fees, and the minimum amount of DOTs you need is enough to create a validate transaction. After obtaining enough DOTs, you will need to set up your validator infrastructure. Ideally you should have a validator node with specs that match what we call standard hardware, as well as one or more sentry nodes to help isolate the validator node from attacks. After the infrastructure is up and running, you should have your Polkadot accounts set up right with a stash bonded to a controller account, and then submit a validate transaction, which will tell the network your nodes are ready to be a part of the network. You should then try and build a community around your validator to let others know you are trustworthy so that they will nominate you. The 1000 validators programme for Kusama is a programme that gives a certain amount of nominations from the Web3 Foundation and Parity to help bootstrap a community and reputation for validators. There may eventually be a similar type of programme for Polkadot as well.
Dan: Thanks a lot for all the answers, Will. That’s the end of the pre-submitted questions and now we’ll open the chat up to live Q&A, and our three team members will get through as many of your questions as possible.
We will take questions related to business development, technology, validating, and staking. For those wondering about DOT:
DOT tokens do not exist yet. Allocations of Polkadot's native DOT token are technically and legally non-transferable. Hence any publicized sale of DOTs is unsanctioned by Web3 Foundation and possibly fraudulent. Any official public sale of DOTs will be announced on the Web3 Foundation website. Polkadot’s launch process started in May and full network decentralization later this year, holders of DOT allocations will determine issuance and transferability. For those who participated in previous DOT sales, you can learn how to claim your DOTs here (https://wiki.polkadot.network/docs/en/claims).


Telegram Community Follow-up Questions Addressed Below


Q: Polkadot looks good but it confuses me that there are so many other Blockchain projects. What should I pay attention in Polkadot to give it the importance it deserves? What are your planning to achieve with your project?

A (Will): Personally, what I think differentiates it is the governance process. Coordinating forkless upgrades and social coordination helps stand it apart.
A (Dieter): The wiki is awesome - https://wiki.polkadot.network/

Q: Over 10,000 ETH paid as a transaction fee , what if this happens on Polkadot? Is it possible we can go through governance to return it to the owner?

A: Anything is possible with governance including transaction reversals, if a network quorum is reached on a topic.
A (Logan): Polkadot transaction fees work differently than the fees on Ethereum so it's a bit more difficult to shoot yourself in the foot as the whale who sent this unfortunate transaction. See here for details on fees: https://w3f-research.readthedocs.io/en/latest/polkadot/Token%20Economics.html?highlight=transaction%20fees#relay-chain-transaction-fees-and-per-block-transaction-limits
However, there is a tip that the user can input themselves which they could accidentally set to a large amount. In this cases, yes, they could proposition governance to reduce the amount that was paid in the tip.

Q: What is the minimum ideal amount of DOT and KSM to have if you want to become a validator and how much technical knowledge do you need aside from following the docs?

A (Will): It depends on what the other validators in the ecosystem are staking as well as the validator set size. You just need to be in the top staking amount of the validator set size. So if its 100 validators, you need to be in the top 100 validators by stake.

Q: Will Web3 nominate validators? If yes, which criteria to be elected?

A (Will): Web 3 Foundation is running programs like the 1000 validators programme for Kusama. There's a possibility this will continue on for Polkadot as well after transfers are enabled. https://thousand-validators.kusama.network/#/
You will need to be an active validator to earn rewards. Only those active in the validator set earn rewards. I would recommend checking out parts of the wiki: https://wiki.polkadot.network/docs/en/maintain-guides-validator-payout

Q: Is it possible to implement hastables or dag with substrate?

A (Logan): Yes.

Q: Polkadot project looks very futuristic! But, could you tell us the main role of DOT Tokens in the Polkadot Ecosystem?

A (Dan): That's a good question. The short answer is Staking, Governance, Bonding. More here: http://polkadot.network/dot-token

Q: How did you manage to prove that the consensus protocol is safe and unbreakable mathematically?

A (Dieter): We have a research teams of over a dozen scientists with PhDs and post-docs in cryptography and distributed computing who do thorough theoretical analyses on all the protocols used in Polkadot

Q: What are the prospects for NFT?

A: Already being built 🙂

Q: What will be Polkadot next roadmap for 2020 ?

A (Dieter): Building. But seriously - we will continue to add many more features and upgrades to Polkadot as well as continue to strongly focus on adoption from other builders in the ecosystem 🙂
A (Will): https://polkadot.network/launch-roadmap/
This is the launch roadmap. Ideally adding parachains and xcmp towards the end of the year

Q: How Do you stay active in terms of marketing developments during this PANDEMIC? Because I'm sure you're very excited to promote more after this settles down.

A (Dan): The main impact of covid was the impact on in-person events. We have been very active on Crowdcast for webinars since 2019, so it was quite the smooth transition to all-online events. You can see our 40+ past event recordings and follow us on Crowdcast here: https://www.crowdcast.io/polkadot. If you're interested in following our emails for updates (including online events), subscribe here: https://info.polkadot.network/subscribe

Q: Hi, who do you think is your biggest competitor in the space?

A (Dan): Polkadot is a metaprotocol that hasn't been seen in the industry up until this point. We hope to elevate the industry by providing interoperability between all major public networks as well as private blockchains.

Q: Is Polkadot a friend or competitor of Ethereum?

A: Polkadot aims to elevate the whole blockchain space with serious advancements in interoperability, governance and beyond :)

Q: When will there be hardware wallet support?

A (Will): Parity Signer works well for now. Other hardware wallets will be added pretty soon

Q: What are the attractive feature of DOT project that can attract any new users ?

A: https://polkadot.network/what-is-polkadot-a-brief-introduction/
A (Will): Buidling parachains with cross chain messaging + bridges to other chains I think will be a very appealing feature for developers

Q: According to you how much time will it take for Polkadot to get into mainstream adoption and execute all the plans set for this project?

A: We are solving many problems that have held back the blockchain industry up until now. Here is a summary in basic terms:
https://preview.redd.it/ls7i0bpm8p951.png?width=752&format=png&auto=webp&s=a8eb7bf26eac964f6b9056aa91924685ff359536

Q: When will bitpie or imtoken support DOT?

A: We are working on integrations on all the biggest and best wallet providers. ;)

Q: What event/call can we track to catch a switch to nPOS? Is it only force_new_era call? Thanks.

A (Will): If you're on riot, useful channels to follow for updates like this are #polkabot:matrix.org and #polkadot-announcements:matrix.parity.io
A (Logan): Yes this is the trigger for initiating the switch to NPoS. You can also poll the ForceEra storage for when it changes to ForceNew.

Q: What strategy will the Polkadot Team use to make new users trust its platform and be part of it?

A (Will): Pushing bleeding edge cryptography from web 3 foundation research
A (Dan): https://t.me/PolkadotOfficial/43378

Q: What technology stands behind and What are its advantages?

A (Dieter): Check out https://polkadot.network/technology/ for more info on our tech stack!

Q: What problems do you see occurring in the blockchain industry nowadays and how does your project aims to solve these problems?

A (Will): Governance I see as a huge problem. For example upgrading Bitcoin and making decisions for changing things is a very challenging process. We have robust systems of on-chain governance to help solve these coordination problems

Q: How involved are the Polkadot partners? Are they helping with the development?

A (Dieter): There are a variety of groups building in the Polkadot ecosystem. Check out http://www.polkaproject.com/ for a great list.

Q: Can you explain the role of the treasury in Polkadot?

A (Will): The treasury is for projects or people that want to build things, but don't want to go through the formal legal process of raising funds from VCs or grants or what have you. You can get paid by the community to build projects for the community.
A: There’s a whole section on the wiki about the treasury and how it functions here https://wiki.polkadot.network/docs/en/mirror-learn-treasury#docsNav

Q: Any plan to introduce Polkadot on Asia, or rising market on Asia?

**A (Will):**We're globally focused

Q: What kind of impact do you expect from the Council? Although it would be elected by token holders, what kind of people you wish to see there?

A (Will): Community focused individuals like u/jam10o that want to see cool things get built and cool communities form

If you have further questions, please ask in the official Polkadot Telegram channel.
submitted by dzr9127 to dot [link] [comments]

Should we get into the stock market?

Obviously given the current market standings there are a lot of benefits of getting in now, knowing that the market will recover once the current circumstances eventually blow over. My husband (29M) and I(24F) are having trouble coming to an agreement on what to do here, he thinks we should take this opportunity to put money into investments and get our savings properly started. I think we should focus on maintaining liquidity now because we KNOW we have a lot of expenses coming up in the next year.
The amount to invest in question is 1000 - 1600 CAD.
We make a combined income of ~90kCAD/year, I have to give an approximation because we live abroad. We would be investing with family (i.e., giving them the money to manage - they can be trusted) and we are Canadian citizens just non residents.
Our living expenses are low, however we aren't very conscientious spenders. Where we live we end up spending a lot of money on fresh fruits and vegetables which are pretty expensive here (we live on an island so everything is imported). We also do give ourselves a large sum of spending money (~600CAD/month each), adjusted for how expensive things are here) each month, I save most of mine for traveling home, and he spends his mostly on eating out, coffee etc.
We also have student loans. We just paid his off, and mine has ~4000 left to pay off. With his loan being fully paid we now have an extra $200/month to put away. Finally, to make this international move we had to take out a significant amount of money (we made this move right after he graduated from his PhD and I finished my undergrad so we had no savings what so every). So we also have around $14 000 on a low interest loan that we are slowly chipping away at.
We have around 2 more years in this country before we will be repatriating to Canada. We will be able to take our pensions (~5000 CAD total) when we leave which will help with expenses, but otherwise we will be entirely on our own assuming my husband doesn't get an amazing job offer that includes relocation which isn't impossible but we certainly can't count on. We're planning on leaving a little differently than we came, basically selling most of everything we have and moving with the least amount of stuff possible to cut down on shipping costs. We intend to rent when we return to Canada, with buying a house being in the distant future - we're both comfortable with this.
Right now we have around $6000 in the bank (split between Canadian and local accounts) that is our buffer. It's pretty good, and could last us around 3 months if we suddenly both lost our jobs (unlikely given our unique circumstances - we are both being paid in full during the pandemic shutdown).
Now here is the kicker, I'm three months pregnant. Pregnancy was planned before the pandemic began, but with the understanding that this is where our finances are. We are in a country with well socialized medicine so we don't need to worry about medical bills, but obviously bringing a baby into things will drastically change our financial viability.
I feel like now is the time for us to a) buckle down on our personal spending so we can put away more and b) definitely keep ourselves as liquid as possible to cover costs here while working to pay down our other loans aggressively but responsibly. I just don't think tying any of our money up in extra knots will be worth the short-term payoff.
My husband is worried that we're missing out on the "next bitcoin", and that we'll regret not investing for the rest of our lives. The thing is I don't disagree, I do believe this is a rare opportunity but I also believe we aren't in a real position to go for it right now. It sucks, and I'm definitely disappointed that we aren't in a different position, I just don't see it as smart to cut our buffer by $1000 when we need that liquidity here.
If it helps for context I grew up fairly poor, but my husband grew up stable. His parents were always investing and are now living off of those investments in a comfortable retirement. By contrast the only reason my mom will ever be able to retire is because she recently married money (harsh but true). So I accept that I may be a little too conservative and fearful when it comes to investing, because that kind of money is hard to come by and even though I understand all the benefits of investing it's hard not to want to just sit on it in a savings account where I can get to it if I need it.
BTW husband and I wrote this together and both feel it is a fair representation of the current situation. We really appreciate any thoughts that you might have on our current circumstances.
submitted by nerdunderwraps to PersonalFinanceCanada [link] [comments]

Proof that Craig Wright is a Scammer.

Where is it?
Here are the allegations:
He scammed the Australian Taxation Office 
Source
.
He lied about a doctorate from CSU 
.
The whole CSW is Satoshi thing. 
Wow, I don't know where to start with this one, as I don't even know where I stand on it without hard evidence either way.
What I will say is that if CSW claiming to be Satoshi is a complete scam, it's an incredibly detailed and elaborate one, involving a lot of people, that was meticulously planned - until the exit plan. If this is true, how did he screw up the end so badly? What was his plan to finish the scam on a win?
I'm not going to weigh too much of my opinion on this because I am still open to new facts and arguments, except to say that at this point I believe CSW was probably involved in Bitcoin from the very early stages, and that it is at least plausible that he and Dave Kleiman had an involvement in the beginnings of Bitcoin. It also seems plausible that whoever Satoshi is, he (or they) does not want to be known. There could be many legal and Tax implications for the real Satoshi. Whatever the real story, it is not black and white.
I'm just going to leave some of my research trail here and you can make up your own minds:
To get a solid overall picture, this article by Andrew O'Hagan is a good start and worth the long read.
An article relating to the Trust with Dave Kleiman in Seychelles holding 1,100,111 BTC. If this is actually for real, it would explain why CSW does not have access to Satoshi keys or coins.
Again, the ATO interview from 2014 discussing bitcoin related issues from 2009
Gizmodo Article about CSW and Dave K
The Wired article claiming CSW to be a hoax, based on the supercomputer, the LinkedIn profile and the missing keys. And no other evidence.
Forbes spreading the accusations further, causing them to be more widely accepted as fact.
More opinions
More reports that the ATO were after "the creator of Bitcoin"
News that CSW's Australian Business is wound up. Again, no mention of any charges or fraud.
Something interesting that maybe somebody else can get more out of than me.
TLDR
I see a lot of people slinging mud, but not a lot of actual facts being tossed around. Before you just join the chorus of regurgitation, do what I did and try to discover some real facts for yourself. If all of the accusations are fabricated, then you must ask yourself who is fabricating it and why? What are their motives? Is there a deeper story?
And if you do find anything supporting either side of the arguments, I'm open ears and open mind. Just expect me to question your sources and to ignore statements of fact that can't be backed up.
submitted by theantnest to btc [link] [comments]

Current State & The Future Of Digital Assets From Ariel Ling, BitMax COO.

Current State & The Future Of Digital Assets From Ariel Ling, BitMax COO.
Ariel Ling, co-founder and COO of BitMax, has shared her thoughts on the current state of digital assets and what to expect in the next years, what retail investor should take into account when buying any cryptocurrencie and the key factors that drive the value of the token/coin.
Ariel Ling, BitMax COO
Why, when and how have you started your crypto journey?
I started my crypto journey at the beginning of 2018 when my long-time friend, the co-founder and CEO of BitMax.io, Dr. George Cao “pulled” me out of the traditional Wall Street and asked me to join him in launching this exciting venture. Three main drivers are 1) to learn more about blockchain technology and its transformational applications in different industries; 2) to leverage in-depth traditional finance expertise to improve overall crypto trading and exchange market structure for better efficiency and transparency; 3) to have a chance to work with a talented and driven team who share similar vision, passion and conviction to build a top global digital asset trading platform as well as a wonderful organization from good to great!
If your friend will ask you: should I consider cryptocurrencies as investment opportunity? What will be your answer? Will you recommend any specific digital asset?
Coming from traditional finance perspective, I would explain my thoughts process from three angles — 1) types of crypto or digital assets as the foundation for understanding; 2) whether they, are more for short-term trading or mid-term investment 2) what are elements for investment valuation and decision-making so our friends can assess and make decision for themselves.
First, in general there are three types of digital assets:
  • Major currency / coin-type like Bitcoin, ETH, XRP, Litecoin, etc. and stable coins;
  • Security-type tokens representing some equity or debt rights of underlying projects;
  • Utility tokens for usage on specific blockchain platform or network.
Each type represents different type of opportunity and risk.
Second: is digital asset good for trading or investment? due to the nascent nature and very short history of market development with most of retail investors’ participation and lack of proper regulatory framework globally, there are quite some market manipulation, speculation and fraud activities in the current market, causing significant volatility and investors loss across all types within very short period of time. This made it very hard for any investors to assess the real valuation and momentum drivers behind those large swings. So at this point, I would think with its high volatility and risk, digital asset in general is more of very short-term trading product than investment vehicle. From liquidity perspective, major currency/coin-type will have more market depth across exchanges, hence more suitable for short-term trading-focused strategies.
Third, from traditional investment perspective, it is critical to assess digital asset investing from valuation and fundamental perspectives, such as business model, future growth, economic return vs. person’s risk tolerance and investment objectives. For major coins, especially Bitcoin itself with its longest history among all the digital assets, have started to provide certain payment function similar to fiat currencies in certain countries. Hence, there are more interesting dynamics to the Bitcoin investing based on one’s view of Bitcoin usage over mid-term horizon and the relative valuation vs its production (mining cost) especially with the price down to 3,500–3,650 USD. For security-type or utility tokens, the performance over short-to-medium term really comes down to combination of intrinsic value of underlying blockchain projects and token economics. Similar to Internet in 1990s, blockchain technology projects are still at the early stage of development and looking for meaningful and applicable use cases to bring real economic benefit from the economics and business model perspective, so it becomes very difficult to apply traditional finance valuation and assess the real intrinsic value of those projects. Recent market crash has brought many of those tokens down to near zero value. So the investment in those tokens are extremely high risk and everyone should be really careful and prudent in the evaluation of any specific projects for the decision-making and risk protection.
What is the story behind BitMax? Who are the foundefounders? When it was founded?
Q1 2018, Dr. George Cao and I founded Global Digital Mercantile (GDM), global operator of digital asset platforms, including BitMax.io based on Singapore for overseas markets and North America’s trading platform aiming for the first half of 2019. BitMax.io started public beta testing mid July, 2018, and was officially launched later mid August. On November 18th , we launched our mining mechanism, the industry very first transaction-mining & reverse-mining mechanism, which has made us the industry leading third-generation cryptocurrency exchange — after first generation of traditional exchanges like Binance, Gemini, Coinbase, etc. and 2nd generation of transaction-mining ones like FCoin, Bitthumb, etc.
Just a quick introduction of my partner. Dr. Cao studied Computer Science in the University of Science and Technology of China, and earned his PhD degree from the University of Chicago. Dr. Cao was the Founder and the Chief Investment Officer of Delpha Capital Management, LLC., New York, specializing in trading equity, ETFs and commodity future products in all major exchanges across the globe. He is also the founder and managing partner of Whitestone Investment Group, a New York based venture fund that invests in a large variety of startup companies that are in the high tech, fintech, big data and medical area. Before founding Delpha Capital, Mr. Cao worked at the Equity Division of Barclays Capital in both the New York and London offices. During that period, he oversaw equity electronic trading in the U.S., European and Asian markets. Prior to Barclays, he researched and traded U.S. equity as a Portfolio Manager at Knight Capital Group.
For me, I have built more than 18-year extensive experience in strategic planning, business development, financial risk management and regulatory implementation across major trading asset classes (Equity, FX, and Fixed Income) at several top global banks. Previous to jumping into digital asset trading, I ran USD liquidity and investment product for top financial institutions and corporate clients at tier-one global investment bank. Before that, I ran US Broker Dealer as COO and head of Business Development for Germany 2nd largest bank. Earlier from 2007 to 2012, I was global equity trading COO across Lehman Brothers and Barclays Capital, building out trading franchise and market making businesses globally. I have four degrees — graduated top of class from Nankai University with two Bachelor degrees in Finance and English Literature and got my MBA from NYU and Master of Mass Communication from University of Georgia.
Where is Bitmax located? Are you a distributed team or do you have an office to work together? How many people work for Bitmax?
Our global team of 50 members are based off two main location — New York with 20 members, including all the founding members, and Beijing with 30 members.
Would you be so kind to introduce briefly the core team members?
Both George and I are very proud of our 10-member founding team. Similar to us, they are all from Wall Street top firms like Morgan Stanley, Deutsche Bank, Goldman Sachs, Bloomberg, and top high-frequency hedge funds with deep experience in the fields of financial engineering research and development of large-scale quant trading infrastructure. Our educational background span across multiple prestigious institutions including Columbia University, University of Chicago, Carnegie Mellon University, and New York University in the United States, as well as Peking University and Tsinghua University in China. So one special thing about BitMax.io is that very few exchanges in the crypto trading space are built by solid team like ours with strong traditional finance mindset and trading background.
You’ve started BitMax during market downtrend in pretty competitive environment. What is your value proposition? Why traders should switch to BitMax?
I think BitMax.io is actually very special in this market, and our team is very proud of what we have built in the short period of six months. There are at least three reasons I think traders should chooseBitMax.io:
  • It’s our real-word professional trading experience and expertise;
  • It’s is our platform, resilient, high volume quantitative-trading platform;
  • It’s is our top-quality customer-centric strategy.
First of all, as I mentioned in the last question, architected by a group of Wall Street veterans, BitMax.io builds upon the core value of blockchain, transparency and reliability, and delivers high-quality client services and trading experience through its innovative trading platform.
Second, our quant-driven tech platform. Our development members were all from high frequency and quantitative systematic trading shops. They definitely make sure the platform was resilient and it can actually handle billions of volume during the design and build. The platform resilience and scalability were fully being tested when we launched the transaction mining and reverse-mining. The first day, we actually had, within the first 24 hours, the trading volume of 1.6 billion in notional; and our system didn’t flinch, didn’t slow down, and didn’t shut down. This is very rare in any of today’s exchanges where you can frequently see the slowdown, the crash, and very slow user responses, especially with transaction mining exchanges.
Third, what we are extremely proud of and all the users can see, is our 24/7 customer services built upon the core Wall Street client-centric concept. Besides our customer support team who never sleep, George actually stands behind the platform almost 24/7 answering questions from the customers, seeking solutions for their issues, and providing the most responsive customer service for the entire crypto trading space.
BitMax CEO, George Cao, is often seen in official Telegram group answering different questions.
We constantly remind our team: customer first. When we design a product, when we launch a system, and when we look at user needs, we all look from customers’ perspective, from how we can protect the users. When we look at primary listing, we only select the high-quality projects because we want our users to have the best investment and trading experience on BitMax.io.
Are you satisfied with the current results of BitMax? Is transaction mining model giving expected volume? What is the % of traders using this model?
We are very pleased with current business development and delivery results from client acquisition and trading perspectives.
On the business development side, we completed the global setup for both 50-member team organization and comprehensive legal entity structure from Asia to North Americas in 2018, which laid down foundation and paved way for 2019 business expansion especially with US.
Since our platform launch in mid Aug, we successfully started Industry FIRST transaction mining and reverse-mining exchange and built out the most active global communities and users within four months in the bear market, with registered users more than 95k; average daily active traders more than quadrupled since the start of transaction mining; average daily trading volume of $465mm through the month of January and February in 2019. Those are extremely promising under this tough market condition.
From the composition of trading volumes, there are two parts — transaction mining which grows exponentially; second is organic, the regular trading which has experienced healthy increase as well because of all the listing activities and all the incentives we have. The regular trading takes about 5% of total trading volume, which is very good for an exchange which was launched in August and running right into the bear market.
What are the key factors that drive the value of the token/coin?
From traditional finance /investment view token economics is really a balance act between business / economic model and exchange market force, driven by three factors: intrinsic value and sustainability, supply and demand, and liquidity and depth.
First, from a traditional finance perspective, we need to look at the intrinsic value, the economic valuation behind a project. How does this project make money? Do they really have fundamentals? Do they really have a viable business model? Do they really have a solid user base for future growth? For example, our exchange business model is very simple. We are exchange; People trade on our platform. The more they trade, the more transaction fee the exchange collect — the revenue source. The exchange will last when people keep trading on the platform and the transaction revenue generated covers the operating cost of running an exchange.
Second, it is the supply and demand of token on the market — who will buy and for what purpose; who will sell and under what scenarios. For major currency coins like Bitcoin, people might buy and sell for potential investment or use in actual payment processing. For other types of token, it is more driven by short-term trading pattern and profit taking. So it is extremely important to set up certain token mechanism to support the equilibrium of supply and demand like how Central Banks manage the supply of currency in circulation through monetary policies.
Third, when the market force comes in, it comes down to the liquidity and depth. Exchange is about liquidity and market depth. That means there has to be enough of trading volumes at each pricing level for each token. For BitMax.io, we have very sophisticated market making model that is similar to Designated Market Maker model of New York Stock Exchange. We focus on providing liquidity and maintaining a fair and orderly market for those token listings who agree to engage our market making services.
Every exchange is looking for good projects in order to become a premiere market for this new asset. Can you name some projects that impressed you recently (even if you are not discussing possible listing with them)?
BitMax.io has strict listing requirements in order to identify high-quality projects for our users. Very proud that we have listed five industry star projects in the last several weeks, with more in the pipeline. All of them have the following attributes that made them successful — viable and profitable business model, growing user bases, strong community support, and comprehensive funding sources.
One of the shining examples is European project named LTO Network listed mid Jan. Its price has been steadily rising since then, as more and more people get to know their business model and more project support comes into the market place to buy the tokens — It uses blockchain technology to streamline a lot of legal processing for one of EU governments, which is very easy to understand its economic value from a revenue perspective. This is simply what people need to see eventually, clean and clear from business economic model perspective.
Let’s imagine a crypto market in 5 or 10 years. Can you make any prediction what the market will look like? What customers will expect from exchange in 5–10 years?
Based off my long-time experience in traditional trading, especially how equity market evolved last twenty years, I would imagine maturing market structure and entrance of institutional investors are key mandatory and healthy development of digital asset market.
First, As the market develops and expands globally, traditional institution participation is a must, in order to upgrade and strengthen the overall market structure and maturity, making it more transparent and resilient, and most importantly enabling the real broad-base adoption of digital assets. Most institutional investors, such as mutual fund, pension fund and other financial institutions, hold the majority of world investment assets, not individual retail investors. Only when those big guys join the market, will there be real revolutionary improvement and expansion of the digital asset just like any other financial markets.
Second, I would expect the market to become more structured with major building blocks for transparent trade life cycle processing and separate risk analytics supporting services. Current crypto trading market is very fragmented with exchanges taking on different roles of trading, wallet management, custodian, etc. Also the lack of clear and consistence regulation on market structure has led to many aspects of market inefficiency — inconsistent liquidity and depth, wide spread, high transaction cost, high volatility, speculation, etc. This definitely hampers the broader adoption of digital assets from institutional investors.
Forward looking, multi-tier structure under some level of regulatory framework with clear guidance is required for future maturing market. Similar to security market, there should be at least three layers of different and independent roles: the role of broker dealer to handle the client relationship with good KYC/ AML processes, retail clients, other financial institutions, blockchain players and to take client order as agent or dealer; the role of exchange to focus on listing and trading — liquidity provision and order matching; the role of clearing house to provide clearing and settlement and custodian on custody of assets with proper control and independence. It is very clean and clear with good check and balance in place.
What are the key challenges for 2019?
During our 2018 business planning, we clearly view 2019 to continue being full of challenges with market uncertainty from both asset price and valuation as well as regulatory development globally. In prep for that and further growth of our platform, we have laid out the following four main strategic objectives and they are all well underway:
  • To launch North America trading platform for high networth and institutional clients. With North America being heavily regulated market, there are two aspects of our plan — First is to leverage a trust structure to facilitate the major coin trading with fiat, and the second is broker-dealer license application with potential for securitized tokens pending regulatory guidance in place.
  • To enhance BitMax.io platform and reach global top-tier exchange. We will continue listening to our users and working hard to enhance user interface and experience by upgrading website vs. other competitors for better client retention.We will continue leading product innovation among the competitors with margin trading (successfully launched in mid Feb) and then derivative to attract new clients.
  • Relent focus on implementation and expansion of current business lines — listing, Market Making, marketing advisory services to grow current revenue base; and further seek new revenue opportunity through North America platform while maintaining cost discipline.
  • we are always on the lookout in terms of exchange alignments, acquisition target, and any business partnership from different aspects of the value chain.
When do you expect a market recovery or next bull run? What are the factors that will influence the start of the market recovery?
With current market crash or correction, there are two possibilities from trading perspective — recovery depending on whether this is a V down or U curve. The U curve occurs when the market collapses, it takes a longer time for market to find the bottom and struggle to rise up. The V down is like a quick collapse — dropping down very fast and reaching the bottom, and then, with some catalyst event, either catalyst from market structure, or catalyst from the market expansion itself, suddenly it gives a boost and bounces right back up.
For market recovery, besides all the investment and economics elements I’ve discussed above, I believe one critical factor is the regulatory development especially clear guidance from key regulatory bodies of those major financial markets such as US, UK, EU, etc. on those key building blocks I mentioned in the maturing market structure. Once those in place, more traditional institutional investors will be ready to get in and hence boost the liquidity and valuation of the digital assets. That is the new beginning of digital assets being accepted as part of Main Street investment globally.

submitted by BitMax_Support to BitMax [link] [comments]

Analyzing Temtum Blockchain

Temtum is another peer to peer cryptocurrency, because of its lightweight featureanybody can support the Temporal Blockchain network, making another universe of financial open door away from fused associations The speed of the Temporal network is unmatched by any current blockchain innovation, with 120k TPS achieved in our lab condition and speculatively vast, genuinely influenced by the size of the network.
The ultra-lightweight architecture, capability and accord of transactions on Temporal empowers incomprehensible verification speed. Temporal considers fleeting data storage on centers, while keeping the reliability of the blockchain and its full history. With Temtum agreement algorithm, transactions are never again required to be sent to every center, rather sent truly to the pioneer center. Along these lines, no wasted resources spent in the superfluous duplication of messages.
This lessening in storage and taking care of power makes interest in the network from low-resourced devices possible, while using less imperativeness than existing blockchain innovation.
Temtum Consensus algorithm eliminate the essential for mining, abstaining from the necessity for significantly wasteful and restrictive accord systems, for instance, Proof of Work. Proof of work by and by requires stores of insignificant essentialness raised computational figurings in order to attest transactions. With Temtum stand-out accord algorithm we reduce this to a singular estimation which each center point can independently calculate and get in contact at a comparative result
The Team #SWOT
The achievement of any effective project depends entirely on the validity and ability of the team. The Temtum team has tremendous knowledge of blockchain and Fintech combined with different experts and mastery in various field Temtum came to presence. Let view the Team profile
Dr Douglas Meakin — President
Douglas is an accomplished specialized official with numerous years working inside designing, item development, quality systems and procedures and tasks in driving edge technology enterprises. He is a demonstrated business and tasks pioneer and specialist of progress in a global setting, having changed huge associations globally while overseeing enormous increments in extension, multifaceted nature and business volumes. He is focused on compelling and persuasive initiative of teams and development of human potential. Most as of late Douglas was the corporate VP of global provider management at Lam Research Corporation, a main provider of semiconductor handling gear, situated in Silicon Valley, California. Doug is CEO of temtum and sits on the governing body.
Richard Dennis — Chief Development Officer
Richard is the organizer of Dragon, and a globally acknowledged, productive and colossal cybersecurity and cryptography master. He is likewise globally perceived as one of the world's driving cybersecurity instructors with a specialism in secure networks, blockchain and encryption. He has a critical assemblage of distributed research, refered to 100's of times inside Blockchain, and introductions on cutting edge arrangements over a wide scope of subjects, including Bitcoin wallet powerlessness, an examination into the versatility of Bitcoin and Ethereum, and a formal investigation of the Temporal square.
Ginger Saltos — Chief Technology Officer
Ginger has a MSc in Security IT, MSc in Forensics IT and has worked widely as a telematics engineer. She has five years of experience crosswise over open and privately owned businesses in security evaluating in Ecuador and she has prompted the Ecuadorian government about security on systems, approach and methods. She is at present a teacher at ESPOL, showing programming, databases, security IT and Forensics IT. Open-Sec Ethical Hacker Certificate OP3N-53C 37H1C4L H4CK3R (OSEH). She is additionally a PhD up-and-comer on the theme of 'Dissecting Malware utilizing Phylogenetics.' Her key specialisms are man-made brainpower and web security.
Dr Gareth Owenson — Chief Information Security Officer
Gareth holds a PhD in Computer Science and a BSc in Internet Technology and is a master in web security, cryptography and dispersed systems. He has directed research in enormous dispersed systems with a specific enthusiasm for cryptographic applications, for example, darknets and computerized crime scene investigation, including creating robotized examination methods to quickly figure out cutting edge malware to decide its functionality and create countermeasures. He has composed numerous productions in diaries and gatherings and normally fills in as a ref for Elsevier, IEEE and CHINACOM. He has led a huge report into the utilization of darknets; he is broadly perceived as a specialist in this field and as often as possible talks on this point. He has additionally prompted the UK and US governments on darknets and web sifting strategy.
David Hodkinson — Chief Financial Officer
David is the fellow benefactor and CEO of Harvex, a pro firm working with clients in the cryptocurrency, blockchain and online gaming part. He has worked with different high-value ICO's, prompting on universal organizing, banking and duty. As a certified accountant, he has supervised the financial illicit relationships of a wide scope of cryptocurrency organizations. Close by this, he has been associated with the vital dispatch of various online gaming organizations and the incorporation of cryptocurrency with these platforms.
Cyntia Aguirre — Chief Software Architect
Cyntia is a Master of Science in Software Engineering with a strong background in software development and IT architecture. She has four years' experience both creating as a full stack engineer and structuring and executing software as an IT planner for the financial industry (Banco del Austro S.A.). She likewise holds a PMP accreditation (Project Manager Professional) affirmed by the Project Management Institute USA.
Website: https://temtum.com/
Whitepapper: https://temtum.com/downloads/temtum-whitepaper.pdf
Twitter: https://twitter.com/wearetemtum
Reddit: https://www.reddit.com/temtum
Facebook: https://www.facebook.com/wearetemtum
Youtube: https://www.youtube.com/channel/UCxEJq-piVp83Cm3yAOtQgkg
Github: https://github.com/temtum
Author Details
Bitcointalk username: Jeborn
Profile Link; https://bitcointalk.org/index.php?action=profile;u=2539483
submitted by jamisky to Crypto_General [link] [comments]

BCH nov15-dec15 update . BCH moves along and claims its #4 place back on CMC


https://news.bitcoin.com/hash-wars-bch-proponents-face-a-new-dawn-in-the-battles-aftermath/


35 days later after the fork, Bitcoin Cash supporters are working towards moving past the hash war that took place a little after the scheduled BCH upgrade on Nov. 15. Now both networks are operating and the Bitcoin Satoshi’s Vision (BSV) coin has its own price ticker and market capitalization listed on data sites like Coinmarketcap and Satoshi Pulse. A portion of crypto-trading platforms have now listed BSV as a separate currency and the entire ecosystem of exchanges, payment processors and a great majority of wallets have awarded the ABC side of the chain the BCH ticker. At the time of writing, the global average price for BCH is $144 after markets jumped 47 percent on Dec. 19. BSV spiked 18 percent this Tuesday and each coin is currently trading for $92 per token.

Since the fork, the BCH network hashrate has dropped considerably, even more so than the 50 percent loss BTC suffered this past month. Average hashrates for a great number of SHA-256 algorithm coins have endured deep drops in processing power according to global statistics. The Bitcoin Cash hashrate used to command a rough average of 5 exahash per second (EH/s), but now only captures 1 EH/s to 850 petahash per second (PH/s) on a daily basis throughout this month.

On the bright side, the BCH network has been 5-8 percent more profitable to mine than BTC over the last two days. Further, BCH has amassed a large swathe of different mining pools that are processing BCH blocks on a regular basis. This includes Viabtc, Btc.com, Antpool, Multipool, Bitcoin.com, Btc.top, Waterhole, Copernicus, P2pool, Ckpool, and some other unknown mining entities as well.

Another BCH metric that has halved since the fork on Nov. 15 is the cryptocurrency’s daily transaction rate over the last month. Before, bitcoin cash transactions per day were about 20,000-25,000, whereas today that number stands at roughly 9,750 over the course of the last 24 hours. Over the last three weeks, the BCH daily transaction rate has been averaging 10k per day, with a few instances of 15k-22k spikes here and there. There has been a steady increase in daily transactions week after week, and with 99 percent of BCH infrastructure back in order, this should continue.

A good example of this behavior is the increase in BCH price and trade volume on exchanges over the last few weeks. Pre-fork BCH trade volumes captured anywhere between $400-900 million worth of global trades every day. After the fork, this statistic dropped to around $50-100 million daily on global exchanges. This was because some cryptocurrency trading platforms with a ton of bitcoin cash liquidity had paused BCH transactions and some exchanges halted trading. Week after week, however, global BCH trade volume has been steadily increasing on exchanges like Upbit, Binance, Huobi, Lbank, and Coinbase Pro. With the 40 percent increase over the last 24 hours, BCH trade volume has jumped to over $400 million in global trades on Dec. 19. At the time of publication, this makes BCH the seventh most traded digital asset out of the entire crypto economy.

The Bitcoin Cash community had also suffered from daily battles on Reddit’s btc forum and social media platforms like Twitter. A good portion of the trolling and infighting seems to have quietened down, and most BCH supporters are just trying to move forward. There’s been plenty of developments since the fork, with projects like Electron Cash, Honest Cash, Cash Shuffle, and Openswap adding more utility to the BCH network. Furthermore, BCH enthusiasts look forward to the upcoming BCH upgrades that are under discussion and they can track the code’s development too. For now, BCH supporters are extremely pleased that the fork is behind them and are thrilled to reclaim fourth position among all cryptocurrency market capitalizations.
submitted by mohtasham22 to btc [link] [comments]

Decred Journal — June 2018

Note: You can read this on GitHub, Medium or old Reddit to see the 207 links.

Development

The biggest announcement of the month was the new kind of decentralized exchange proposed by @jy-p of Company 0. The Community Discussions section considers the stakeholders' response.
dcrd: Peer management and connectivity improvements. Some work for improved sighash algo. A new optimization that gives 3-4x faster serving of headers, which is great for SPV. This was another step towards multipeer parallel downloads – check this issue for a clear overview of progress and planned work for next months (and some engineering delight). As usual, codebase cleanup, improvements to error handling, test infrastructure and test coverage.
Decrediton: work towards watching only wallets, lots of bugfixes and visual design improvements. Preliminary work to integrate SPV has begun.
Politeia is live on testnet! Useful links: announcement, introduction, command line voting example, example proposal with some votes, mini-guide how to compose a proposal.
Trezor: Decred appeared in the firmware update and on Trezor website, currently for testnet only. Next steps are mainnet support and integration in wallets. For the progress of Decrediton support you can track this meta issue.
dcrdata: Continued work on Insight API support, see this meta issue for progress overview. It is important for integrations due to its popularity. Ongoing work to add charts. A big database change to improve sorting on the Address page was merged and bumped version to 3.0. Work to visualize agenda voting continues.
Ticket splitting: 11-way ticket split from last month has voted (transaction).
Ethereum support in atomicswap is progressing and welcomes more eyeballs.
decred.org: revamped Press page with dozens of added articles, and a shiny new Roadmap page.
decredinfo.com: a new Decred dashboard by lte13. Reddit announcement here.
Dev activity stats for June: 245 active PRs, 184 master commits, 25,973 added and 13,575 deleted lines spread across 8 repositories. Contributions came from 2 to 10 developers per repository. (chart)

Network

Hashrate: growth continues, the month started at 15 and ended at 44 PH/s with some wild 30% swings on the way. The peak was 53.9 PH/s.
F2Pool was the leader varying between 36% and 59% hashrate, followed by coinmine.pl holding between 18% and 29%. In response to concerns about its hashrate share, F2Pool made a statement that they will consider measures like rising the fees to prevent growing to 51%.
Staking: 30-day average ticket price is 94.7 DCR (+3.4). The price was steadily rising from 90.7 to 95.8 peaking at 98.1. Locked DCR grew from 3.68 to 3.81 million DCR, the highest value was 3.83 million corresponding to 47.87% of supply (+0.7% from previous peak).
Nodes: there are 240 public listening and 115 normal nodes per dcred.eu. Version distribution: 57% on v1.2.0 (+12%), 25% on v1.1.2 (-13%), 14% on v1.1.0 (-1%). Note: the reported count of non-listening nodes has dropped significantly due to data reset at decred.eu. It will take some time before the crawler collects more data. On top of that, there is no way to exactly count non-listening nodes. To illustrate, an alternative data source, charts.dcr.farm showed 690 reachable nodes on Jul 1.
Extraordinary event: 247361 and 247362 were two nearly full blocks. Normally blocks are 10-20 KiB, but these blocks were 374 KiB (max is 384 KiB).

ASICs

Update from Obelisk: shipping is expected in first half of July and there is non-zero chance to meet hashrate target.
Another Chinese ASIC spotted on the web: Flying Fish D18 with 340 GH/s at 180 W costing 2,200 CNY (~340 USD). (asicok.comtranslated, also on asicminervalue)
dcrASIC team posted a farewell letter. Despite having an awesome 16 nm chip design, they decided to stop the project citing the saturated mining ecosystem and low profitability for their potential customers.

Integrations

bepool.org is a new mining pool spotted on dcred.eu.
Exchange integrations:
Two OTC trading desks are now shown on decred.org exchanges page.
BitPro payment gateway added Decred and posted on Reddit. Notably, it is fully functional without javascript or cookies and does not ask for name or email, among other features.
Guarda Wallet integrated Decred. Currently only in their web wallet, but more may come in future. Notable feature is "DCR purchase with a bank card". See more details in their post or ask their representative on Reddit. Important: do your best to understand the security model before using any wallet software.

Adoption

Merchants:
BlueYard Capital announced investment in Decred and the intent to be long term supporters and to actively participate in the network's governance. In an overview post they stressed core values of the project:
There are a few other remarkable characteristics that are a testament to the DNA of the team behind Decred: there was no sale of DCR to investors, no venture funding, and no payment to exchanges to be listed – underscoring that the Decred team and contributors are all about doing the right thing for long term (as manifested in their constitution for the project).
The most encouraging thing we can see is both the quality and quantity of high calibre developers flocking to the project, in addition to a vibrant community attaching their identity to the project.
The company will be hosting an event in Berlin, see Events below.
Arbitrade is now mining Decred.

Events

Attended:
Upcoming:

Media

stakey.club: a new website by @mm:
Hey guys! I'd like to share with you my latest adventure: Stakey Club, hosted at stakey.club, is a website dedicated to Decred. I posted a few articles in Brazilian Portuguese and in English. I also translated to Portuguese some posts from the Decred Blog. I hope you like it! (slack)
@morphymore translated Placeholder's Decred Investment Thesis and Richard Red's write-up on Politeia to Chinese, while @DZ translated Decred Roadmap 2018 to Italian and Russian, and A New Kind of DEX to Italian and Russian.
Second iteration of Chinese ratings released. Compared to the first issue, Decred dropped from 26 to 29 while Bitcoin fell from 13 to 17. We (the authors) restrain ourselves commenting on this one.
Videos:
Audio:
Featured articles:
Articles:

Community Discussions

Community stats: Twitter followers 40,209 (+1,091), Reddit subscribers 8,410 (+243), Slack users 5,830 (+172), GitHub 392 stars and 918 forks of dcrd repository.
An update on our communication systems:
Jake Yocom-Piatt did an AMA on CryptoTechnology, a forum for serious crypto tech discussion. Some topics covered were Decred attack cost and resistance, voting policies, smart contracts, SPV security, DAO and DPoS.
A new kind of DEX was the subject of an extensive discussion in #general, #random, #trading channels as well as Reddit. New channel #thedex was created and attracted more than 100 people.
A frequent and fair question is how the DEX would benefit Decred. @lukebp has put it well:
Projects like these help Decred attract talent. Typically, the people that are the best at what they do aren’t driven solely by money. They want to work on interesting projects that they believe in with other talented individuals. Launching a DEX that has no trading fees, no requirement to buy a 3rd party token (including Decred), and that cuts out all middlemen is a clear demonstration of the ethos that Decred was founded on. It helps us get our name out there and attract the type of people that believe in the same mission that we do. (slack)
Another concern that it will slow down other projects was addressed by @davecgh:
The intent is for an external team to take up the mantle and build it, so it won't have any bearing on the current c0 roadmap. The important thing to keep in mind is that the goal of Decred is to have a bunch of independent teams on working on different things. (slack)
A chat about Decred fork resistance started on Twitter and continued in #trading. Community members continue to discuss the finer points of Decred's hybrid system, bringing new users up to speed and answering their questions. The key takeaway from this chat is that the Decred chain is impossible to advance without votes, and to get around that the forker needs to change the protocol in a way that would make it clearly not Decred.
"Against community governance" article was discussed on Reddit and #governance.
"The Downside of Democracy (and What it Means for Blockchain Governance)" was another article arguing against on-chain governance, discussed here.
Reddit recap: mining rig shops discussion; how centralized is Politeia; controversial debate on photos of models that yielded useful discussion on our marketing approach; analysis of a drop in number of transactions; concerns regarding project bus factor, removing central authorities, advertising and full node count – received detailed responses; an argument by insette for maximizing aggregate tx fees; coordinating network upgrades; a new "Why Decred?" thread; a question about quantum resistance with a detailed answer and a recap of current status of quantum resistant algorithms.
Chats recap: Programmatic Proof-of-Work (ProgPoW) discussion; possible hashrate of Blake-256 miners is at least ~30% higher than SHA-256d; how Decred is not vulnerable to SPV leaf/node attack.

Markets

DCR opened the month at ~$93, reached monthly high of $110, gradually dropped to the low of $58 and closed at $67. In BTC terms it was 0.0125 -> 0.0150 -> 0.0098 -> 0.0105. The downturn coincided with a global decline across the whole crypto market.
In the middle of the month Decred was noticed to be #1 in onchainfx "% down from ATH" chart and on this chart by @CoinzTrader. Towards the end of the month it dropped to #3.

Relevant External

Obelisk announced Launchpad service. The idea is to work with coin developers to design a custom, ASIC-friendly PoW algorithm together with a first batch of ASICs and distribute them among the community.
Equihash-based ZenCash was hit by a double spend attack that led to a loss of $450,000 by the exchange which was targeted.
Almost one year after collecting funds, Tezos announced a surprise identification procedure to claim tokens (non-javascript version).
A hacker broke into Syscoin's GitHub account and implanted malware stealing passwords and private keys into Windows binaries. This is a painful reminder for everybody to verify binaries after download.
Circle announced new asset listing framework for Poloniex. Relevant to recent discussions of exchange listing bribery:
Please note: we will not accept any kind of payment to list an asset.
Bithumb got hacked with a $30 m loss.
Zcash organized Zcon0, an event in Canada that focused on privacy tech and governance. An interesting insight from Keynote Panel on governance: "There is no such thing as on-chain governance".
Microsoft acquired GitHub. There was some debate about whether it is a reason to look into alternative solutions like GitLab right now. It is always a good idea to have a local copy of Decred source code, just in case.
Status update from @sumiflow on correcting DCR supply on various sites:
To begin with, none of the below sites were showing the correct supply or market cap for Decred but we've made some progress. coingecko.com, coinlib.io, cryptocompare.com, livecoinwatch.com, worldcoinindex.com - corrected! cryptoindex.co, onchainfx.com - awaiting fix coinmarketcap.com - refused to fix because devs have coins too? (slack)

About This Issue

This is the third issue of Decred Journal after April and May.
Most information from third parties is relayed directly from source after a minimal sanity check. The authors of Decred Journal have no ability to verify all claims. Please beware of scams and do your own research.
The new public Matrix logs look promising and we hope to transition from Slack links to Matrix links. In the meantime, the way to read Slack links is explained in the previous issue.
As usual, any feedback is appreciated: please comment on Reddit, GitHub or #writers_room. Contributions are welcome too, anything from initial collection to final review to translations.
Credits (Slack names, alphabetical order): bee and Richard-Red. Special thanks to @Haon for bringing May 2018 issue to medium.
submitted by jet_user to decred [link] [comments]

[AMA SUMMARY] Coin98 AMA #29 Ferrum Network with Ian Friend - COO At Ferrum Network


https://preview.redd.it/cjzluk91i6h31.jpg?width=960&format=pjpg&auto=webp&s=12d87043df93ed0c81317d2857f245627f1efdf4
Coin98, a Facebook Group, recently did an AMA with Ian Friend, COO of Ferrum Network.
Grace Pham: Before we start the AMA could you please introduce a little bit about yourself as well as a quick introduction about FRM for anyone who hasn't heard about FRM yet?
Ian Friend: Yes of course. I am the Co-Founder and COO of Ferrum Network. Prior to joining Ferrum I was a lawyer in New York City where I founded my law firm's blockchain practice team. I then met Naiem Yeganeh, PhD and we founded Ferrum.
Q: Could you briefly describe what is FRM in 3-5 sentences?
Ian Friend: Ferrum is really the combination of two interconnected components. First, is the high-speed interoperability network that can connect to any blockchain and executes transactions of any digital asset - even bitcoin - in milliseconds for near zero fees.
Q: You guys are building among other things an Interoperability Network, can you explain a bit how this works and what the advantages are compare to the existing networks?
Ian Friend: Ok so the interoperability network is a innovation from an older design, essentially it uses proxy tokens that can represent any digital asset. And because it runs on a DAG instead of a blockchain, transactions can be executed instantly for almost no fees.
Q: What is the ferrum token utility in the ecosystem? Where it will be used and why the demand for the token should increase?
Ian Friend: FRM is the gas of the network. You need to spend it to run transactions. The unique thing is that everytime a token is spent, it is burned. Our African users alone will account for thousands of daily token burns on day 1 of main net launch. The token should increase as we acquire more users for our products. The next product we will launch is called UniFyre Wallet. This will be available worldwide and coming to an app store near you.
Q: What are the advantages of DAG that you used for Ferrum Network? Why did you choose DAG instead of blockchains?
Ian Friend: We chose DAG instead of a blockcahin because they are inherently faster and cheaper than blockchains because there are no miners confirming blocks. Each transaction confirms another transaction. This is more suitable for high-speed and low cost transactions like we need to run our financial products
Q: What made you decide to start with the Kudi Exchange and why Africa?
Ian Friend: Africa is a huge market with billions of people and the existing banking and financial systems are lacking in many ways. They are also open to blockchain technology. Nigeria is the 7th biggest market in the world for BTC trading.
Q: Is there any rewards for staking FRM TOKEN in the future?
Ian Friend: Yes so there is pseudo staking now thru social mining. community.ferrum.network There will be staking in the UniFyre Wallet and staking once the main net is released in 2020. But for now you can earn thru social mining which allows you to earn FRM based on teh amount you hold plus the value you provide to the ecosystem in the form of tweets, articles, videos, etc.
Q: Till now whether they conducted any TPS for their blockchain because we need to have enough security for the transactions which most of the people will show much interest in security blockchain. Through POS layer whether we can hold the coin in order to increase the staking rewards?
Ian Friend: Ferrum Network can do thousands of transactions per ssecond and each transaction clears almost instantly. Here is a demo of a BTC transaction on our test net which execute in milliseconds
Q: What is your go-to-market strategy?
Ian Friend: Depends on the product you are talking about but for Kudi Exchange we are focused on bitcoin traders in Nigeria and also signing up merchants to our point of sale system that is built into the app.
Q: What prospects of Ferrum are you most excited about?
Ian Friend: UniFyre Wallet, Infinity DEX and laucnhing fiat gateways in parts of the world that really need crypto to help improve their lives.
Q: What is your monetary policy?
Ian Friend: We are a lean start up. We built Kudi Exchange on less than $100,000. We are very frugal and never waste money.
Q: How much fund raised until now, have you reached the softcap? will you do an IEO in the future?
Ian Friend: We just did an ICO. Total raised in all rounds was $1.12 million. The last round was $300,000 and we raised it in just a few minutes.
Q: What technology stands behind Ferrum Network and why it’s better than the existing one?
Ian Friend: So fundamentally it is a DAG based interoperability network which uses decentralied proxy tokens to achieve instant transactions of any digital asset without holding anyones private keys.
Q: Currently, there is no public Github repository for the project, do you intend in showcasing the code at some point?
Ian Friend: We will be showing more public repositories as we continue. https://github.com/ferrumnet
Q: What's your plan after listing on Bitmax?
Ian Friend: Binance DEX application was made last week, we are just waiting on the validators to vote. We are in talks with many other exchanges just looking for the right one to list on next.
Q: What is the Unifire wallet? and when the Unifire wallet lauch?
Ian Friend: https://unifyre.io/ is a non-custodial wallet with many unique features like the ability to recover your assets if you lose your phone, and risk free OTC trading and staking any token. Version 0.1 will be released in the next few months. Later versions will have all the features once main net is live.
Q: What are Ferrum weaknesses?
Ian Friend: Because of our low raise we dont have a big marketing budget or a budget to spend millions to list on exchanges. We need to work hard and be creative. But it has worked for us so far considering we listed on BItMax 5 days after the ICO. We also need to hire more engineers. If anyone here is a developer, we are hiring!
Q: It's believed that staking on exchanges is a hot trend. Do you have the plan to do staking on Kudi Exchange?
Ian Friend: Not on Kudi but we will have staking of FRM on UniFyre with the push of a button. Once main net is out UniFyre will enable the staking of any token even those that do not use smart contracts like BEP-2 tokens!
Q: What is the biggest problem that Ferrum team has faced? and how has your team solved it?
Ian Friend: Many challenges but one big one was the trend in crypto to raise money and list on an exhange before any product was built or there were users. We raised only after we built Kudi Exchange. I hope this trend continues and people do not fall for "vaporware" projetcs anymore
The other big one is providing a banking app to the unbanked in Africa. With Kudi you can send real money using What's App, and access US Dollar stable coins from the same app. This had never been done before Kudi.
Q: Can you share more details about the relationship between Ferrum and Gemini? What's the benefit for user under the partnership?
Ian Friend: Sure so we partnered with Gemini to become the only app in West Afica offering a US Dollar backed stable coin. This means our Nigerian users can hedge out of volatile bitcoin, and also hedge out of their own fiat currency, which has lost 50% of its value since 2013. We are now looking to partner with other stable coin providers to offer alternatives to GUSD.
Q: What is your inflation and deflation in Tokenomics?
Ian Friend: All investor tokens are unlocked after 3 months so after that you dont have to worry about "dumping". The rest are locked up over the course of years and only slowly released. One unique thing we are doing is called the Traction Based Reserve wher tokens are unlcoked only based on the amount of burned tokens.
Q: I heard a lot people said: DEX is the future so Centralized exchange will dead. so why Ferrum don't develop DEX only?
Ian Friend: I agree in the long term DEXes are the future. But we will still need CEXs as fiat onramps/offramps. These fiat gateways are stil regulated by the financial rules, and therefore cannot be fully decentralized. At Ferrum, we have fiat gateways to buy crypto with fiat, but then you enter into a decentralized non-custodial ecosystem which has inherent benefits in terms of costs, privacy, speeds, and global reach.
Ian Friend: Thank you all for attending! Please join our channel for all things Ferrum: https://t.me/ferrum_network
https://www.facebook.com/groups/Coin98.Net/about/
submitted by freekemans to FerrumNetwork [link] [comments]

Decred Journal – September 2018

Note: you can read this on GitHub (link), Medium (link) or old Reddit (link).

Development

Final version 1.3.0 of the core software was released bringing all the enhancements reported last month to the rest of the community. The groundwork for SPV (simplified payment verification) is complete, another reduction of fees is being deployed, and performance stepped up once again with a 50% reduction in startup time, 20% increased sync speed and more than 3x faster peer delivery of block headers (a key update for SPV). Decrediton's integrations of SPV and Politeia are open for testing by experienced users. Read the full release notes and get the downloads on GitHub. As always, don't forget to verify signatures.
dcrd: completed several steps towards multipeer downloads, improved introduction to the software in the main README, continued porting cleanups and refactoring from upstream btcd.
Currently in review are initial release of smart fee estimator and a change to UTXO set semantics. The latter is a large and important change that provides simpler handling, and resolves various issues with the previous approach. A lot of testing and careful review is needed so help is welcome.
Educational series for new Decred developers by @matheusd added two episodes: 02 Simnet Setup shows how to automate simnet management with tmux and 03 Miner Reward Invalidation explains block validity rules.
Finally, a pull request template with a list of checks was added to help guide the contributors to dcrd.
dcrwallet: bugfixes and RPC improvements to support desktop and mobile wallets.
Developers are welcome to comment on this idea to derive stakepool keys from the HD wallet seed. This would eliminate the need to backup and restore redeem scripts, thus greatly improving wallet UX. (missed in July issue)
Decrediton: bugfixes, refactoring to make the sync process more robust, new loading animations, design polishing.
Politeia: multiple improvements to the CLI client (security conscious users with more funds at risk might prefer CLI) and security hardening. A feature to deprecate or timeout proposals was identified as necessary for initial release and the work started. A privacy enhancement to not leak metadata of ticket holders was merged.
Android: update from @collins: "Second test release for dcrandroid is out. Major bugs have been fixed since last test. Latest code from SPV sync has been integrated. Once again, bug reports are welcome and issues can be opened on GitHub". Ask in #dev room for the APK to join testing.
A new security page was added that allows one to validate addresses and to sign/verify messages, similar to Decrediton's Security Center. Work on translations is beginning.
Overall the app is quite stable and accepting more testers. Next milestone is getting the test app on the app store.
iOS: the app started accepting testers last week. @macsleven: "the test version of Decred Wallet for iOS is available, we have a link for installing the app but the builds currently require your UDID. Contact either @macsleven or @raedah with your UDID if you would like to help test.".
Nearest goal is to make the app crash free.
Both mobile apps received new design themes.
dcrdata: v3.0 was released for mainnet! Highlights: charts, "merged debits" view, agendas page, Insight API support, side chain tracking, Go 1.11 support with module builds, numerous backend improvements. Full release notes here. This release featured 9 contributors and development lead @chappjc noted: "This collaboration with @raedahgroup on our own block explorer and web API for @decredproject has been super productive.".
Up next is supporting dynamic page widths site wide and deploying new visual blocks home page.
Trezor: proof of concept implementation for Trezor Model T firmware is in the works (previous work was for Model One).
Ticket splitting: updated to use Go modules and added simnet support, several fixes.
docs: beginner's guide overhaul, multiple fixes and cleanups.
decred.org: added 3rd party wallets, removed inactive PoW pools and removed web wallet.
@Richard-Red is building a curated list of Decred-related GitHub repositories.
Welcome to new people contributing for the first time: @klebe, @s_ben, @victorguedes, and PrimeDominus!
Dev activity stats for September: 219 active PRs, 197 commits, 28.7k added and 18.8k deleted lines spread across 6 repositories. Contributions came from 4-10 developers per repository. (chart)

Network

Hashrate: started and ended the month around 75 PH/s, hitting a low of 60.5 and a new high of 110 PH/s. BeePool is again the leader with their share varying between 23-54%, followed by F2Pool 13-30%, Coinmine 4-6% and Luxor 3-5%. As in previous months, there were multiple spikes of unidentified hashrate.
Staking: 30-day average ticket price is 98 DCR (+2.4). The price varied between 95.7 and 101.9 DCR. Locked DCR amount was 3.86-3.96 million DCR, or 45.7-46.5% of the supply.
Nodes: there are 201 public listening nodes and 325 normal nodes per dcred.eu. Version distribution: 5% are v1.4.0(pre) dev builds (+3%), 30% on v1.3.0 (+25%), 42% on v1.2.0 (-20%), 15% on v1.1.2 (-7%), 6% on v1.1.0. More than 76% of nodes run v1.2.0 and higher and therefore support client filters. Data as of Oct 1.

ASICs

Obelisk posted two updates on their mailing list. 70% of Batch 1 units are shipped, an extensive user guide is available, Obelisk Scanner application was released that allows one to automatically update firmware. First firmware update was released and bumped SC1 hashrate by 10-20%, added new pools and fixed multiple bugs. Next update will focus on DCR1. It is worth a special mention that the firmware source code is now open! Let us hope more manufacturers will follow this example.
A few details about Whatsminer surfaced this month. The manufacturer is MicroBT, also known as Bitwei and commonly misspelled as Bitewei. Pangolinminer is a reseller, and the model name is Whatsminer D1.
Bitmain has finally entered Decred ASIC space with their Antminer DR3. Hash rate is 7.8 TH/s while pulling 1410 W, at the price of $673. These specs mean it has the best GH/W and GH/USD of currently sold miners until the Whatsminer or others come out, although its GH/USD of 11.6 already competes with Whatsminer's 10.5. Discussed on Reddit and bitcointalk, unboxing video here.

Integrations

Meet our 17th voting service provider: decredvoting.com. It is operated by @david, has 2% fee and supports ticket splitting. Reddit thread is here.
For a historical note, the first VSP to support ticket splitting was decredbrasil.com:
@matheusd started tests on testnet several months ago. I contacted him so we could integrate with the pool in June this year. We set up the machine in July and bought the first split ticket on mainnet, using the decredbrasil pool, on July 19. It was voted on July 30. After this first vote on mainnet, we opened the tests to selected users (with more technical background) on the pool. In August we opened the tests to everyone, and would call people who want to join to the #ticket_splitting channel, or to our own Slack (in Portuguese, so mostly Brazilian users). We have 28 split tickets already voted, and 16 are live. So little more than 40 split tickets total were bought on decredbrasil pool. (@girino in #pos-voting)
KuCoin exchange listed DCBTC and DCETH pairs. To celebrate their anniversary they had a 99% trading fees discount on DCR pairs for 2 weeks.
Three more wallets integrated Decred in September:
ChangeNow announced Decred addition to their Android app that allows accountless swaps between 150+ assets.
Coinbase launched informational asset pages for top 50 coins by market cap, including Decred. First the pages started showing in the Coinbase app for a small group of testers, and later the web price dashboard went live.

Adoption

The birth of a Brazilian girl was registered on the Decred blockchain using OriginalMy, a blockchain proof of authenticity services provider. Read the full story in Portuguese and in English.

Marketing

Advertising report for September is ready. Next month the graphics for all the ads will be changing.
Marketing might seem quiet right now, but a ton is actually going on behind the scenes to put the right foundation in place for the future. Discovery data are being analyzed to generate a positioning strategy, as well as a messaging hierarchy that can guide how to talk about Decred. This will all be agreed upon via consensus of the community in the work channels, and materials will be distributed.
Next, work is being done to identify the right PR partner to help with media relations, media training, and coordination at events. While all of this is coming up to speed, we believe the website needs a refresher reflecting the soon to be agreed upon messaging, plus a more intuitive architecture to make it easier to navigate. (@Dustorf)

Events

Attended:
Upcoming:
We'll begin shortly reviewing conferences and events planned for the first half of 2019. Highlights are sure to include The North American Bitcoin Conference in Miami (Jan 16-18) and Consensus in NYC (May 14-16). If you have suggestions of events or conferences Decred should attend, please share them in #event_planning. In 2019, we would like to expand our presence in Europe, Asia, and South America, and we're looking for community members to help identify and staff those events. (@Dustorf)

Media

August issue of Decred Journal was translated to Russian. Many thanks to @DZ!
Rency cryptocurrency ratings published a report on Decred and incorporated a lot of feedback from the community on Reddit.
September issue of Chinese CCID ratings was published (snapshot), Decred is still at the bottom.
Videos:
Featured articles:
Articles:

Community Discussions

Community stats:
Comm systems news: Several work channels were migrated to Matrix, #writers_room is finally bridged.
Highlights:
Twitter: why decentralized governance and funding are necessary for network survival and the power of controlling the narrative; learning about governance more broadly by watching its evolution in cryptocurrency space, importance of community consensus and communications infrastructure.
Reddit: yet another strong pitch by @solar; question about buyer protections; dcrtime internals; a proposal to sponsor hoodies in the University of Cape Town; Lightning Network support for altcoins.
Chats: skills to operate a stakepool; voting details: 2 of 3 votes can approve a block, what votes really approve are regular tx, etc; scriptless script atomic swaps using Schnorr adaptor signatures; dev dashboard, choosing work, people do best when working on what interests them most; opportunities for governments and enterprise for anchoring legal data to blockchain; terminology: DAO vs DAE; human-friendly payments, sharing xpub vs payment protocols; funding btcsuite development; Politeia vote types: approval vote, sentiment vote and a defund vote, also linking proposals and financial statements; algo trading and programming languages (yes, on #trading!); alternative implementation, C/C++/Go/Rust; HFTs, algo trading, fake volume and slippage; offline wallets, usb/write-only media/optical scanners vs auditing traffic between dcrd and dcrwallet; Proof of Activity did not inspire Decred but spurred Decred to get moving, Wikipedia page hurdles; how stakeholders could veto blocks; how many votes are needed to approve a proposal; why Decrediton uses Electron; CVE-2018-17144 and over-dependence on single Bitcoin implementation, btcsuite, fuzz testing; tracking proposal progress after voting and funding; why the wallet does not store the seed at all; power connectors, electricity, wiring and fire safety; reasonable spendings from project fund; ways to measure sync progress better than block height; using Politeia without email address; concurrency in Go, locks vs channels.
#support is not often mentioned, but it must be noted that every day on this channel people get high quality support. (@bee: To my surprise, even those poor souls running Windows 10. My greatest respect to the support team!)

Markets

In September DCR was trading in the range of USD 34-45 / BTC 0.0054-0.0063. On Sep 6, DCR revisited the bottom of USD 34 / BTC 0.0054 when BTC quickly dropped from USD 7,300 to 6,400. On Sep 14, a small price rise coincided with both the start of KuCoin trading and hashrate spike to 104 PH/s. Looking at coinmarketcap charts, the trading volume is a bit lower than in July and August.
As of Oct 4, Decred is #18 by the number of daily transactions with 3,200 tx, and #9 by the USD value of daily issuance with $230k. (source: onchainfx)
Interesting observation by @ImacallyouJawdy: while we sit at 2018 price lows the amount locked in tickets is testing 2018 high.

Relevant External

ASIC for Lyra2REv2 was spotted on the web. Vertcoin team is preparing a new PoW algorithm. This would be the 3rd fork after two previous forks to change the algorithm in 2014 and 2015.
A report titled The Positive Externalities of Bitcoin Mining discusses the benefits of PoW mining that are often overlooked by the critics of its energy use.
A Brief Study of Cryptonetwork Forks by Alex Evans of Placeholder studies the behavior of users, developers and miners after the fork, and makes the cases that it is hard for child chains to attract users and developers from their parent chains.
New research on private atomic swaps: the paper "Anonymous Atomic Swaps Using Homomorphic Hashing" attempts to break the public link between two transactions. (bitcointalk, decred)
On Sep 18 Poloniex announced delisting of 8 more assets. That day they took a 12-80% dive showing their dependence on this one exchange.
Circle introduced USDC markets on Poloniex: "USDC is a fully collateralized US dollar stablecoin using the ERC-20 standard that provides detailed financial and operational transparency, operates within the regulated framework of US money transmission laws, and is reinforced by established banking partners and auditors.".
Coinbase announced new asset listing process and is accepting submissions on their listing portal. (decred)
The New York State Office of the Attorney General posted a study of 13 exchanges that contains many insights.
A critical vulnerability was discovered and fixed in Bitcoin Core. Few days later a full disclosure was posted revealing the severity of the bug. In a bitcointalk thread btcd was called 'amateur' despite not being vulnerable, and some Core developers voiced their concerns about multiple implementations. The Bitcoin Unlimited developer who found the bug shared his perspective in a blog post. Decred's vision so far is that more full node implementations is a strength, just like for any Internet protocol.

About This Issue

This is the 6th issue of Decred Journal. It is mirrored on GitHub, Medium and Reddit. Past issues are available here.
Most information from third parties is relayed directly from source after a minimal sanity check. The authors of Decred Journal have no ability to verify all claims. Please beware of scams and do your own research.
Feedback is appreciated: please comment on Reddit, GitHub or #writers_room on Matrix or Slack.
Contributions are also welcome: some areas are adding content, pre-release review or translations to other languages.
Credits (Slack names, alphabetical order): bee, Dustorf, jz, Haon, oregonisaac, raedah and Richard-Red.
submitted by jet_user to decred [link] [comments]

Decred Journal — April 2018

This post covers what happened in Decred last month. Let's get down to business and have About section at the end.

Development

Wallet and node software version 1.2.0 has been released. Decrediton wallet highlights: improved startup experience, redesigned overview page, added basic graphs to visualize statistics and an export to CSV (helpful for tax reporting). dcrd node software highlights: significantly faster startup and compact filters to support light clients. See full release notes and downloads here, for Decrediton use 1.2.1 bugfix release.
The release process has been improved. Instead of announcing a release date and trying to meet it, a Release Candidate 1 (RC1) will now be posted. After it has been tested an bugfixed with the help of the community, a second candidate (RC2) will be released. This is repeated until an RC version with no apparent bugs becomes the final release. The new process removes a ton of pressure from developers and users and gives more time for testing. As our primary consumer-facing product, Decrediton, is growing in features and complexity, more testing will be required for new releases.
Politeia is "Getting close to a public beta of voting" (slack). Decred plugin merged, paywall and voting are in the testing stage. Ticket voting works on testnet via CLI.
Trezor support got closer as Decred patch was merged. Please note this is only firmware support, to be usable it also needs wallet integration.
WooCommerce Decred plugin alpha version is ready for testing.
Decred.org received a new sleek exchanges page.
The contributors page has been updated to add 10 new faces. Some of them are new to the project but others have been contributing for a while.
Dev activity stats for April: 152 active PRs, 125 commits, 21,656 added and 10,288 deleted lines spread across 7 repositories done by 2-7 developers per repository. (chart)

Network

Hashrate: April started at 2.0-2.7 PH/s range and seen a general increase with some big fluctuations between lows at 2.2 and new all time high above 5.2 PH/s.
Nodes: there are 200 public listening and 500 normal nodes per dcred.eu as of May 1. 169 nodes already upgraded to version 1.2.0. Some 30 nodes were observed to be testing Release Candidate versions before the final release.
Ticket price 30-day average has seen a steady rise to 87.5 DCR. Stake participation is solid 46.1% with 3.53 million DCR as of May 1.

ASICs

Updates from Obelisk's Taek:
We got results back. They are more or less on line with the simulations I didn't realize this, but we don't get the real chips back for 3 more weeks. The ones we've been testing are hacked together into a DIP package (they are BGA chips) that really screws up the results There's a decent chance that the full bga chips perform better For the time being though, we're pretty much on track for the hashrates estimated on the website (slack, Apr 12)
And regarding the June delivery date:
We're still on track for batch 1. We've ordered most of the parts we'll need, including the chips. We've got working chips, we've got test boards, test units, test everything. We've signed manufacturers to produce everything. Obelisk is going strong. (reddit, Apr 23)
We are thankful for his updates in our #pow-mining channel and hope other ASIC manufacturers will also join.
Fellow Sia miners are discussing the design of Obelisk SC1 case.
Halong: B29 units are shipping. The amount of units in first batch was estimated 450-600 by our community member. Review of DragonMint B29 published, people are discussing shipping and running the miners.
By surprise, Innosilicon announced the sale of D9 DecredMaster ASIC miner with specs identical to Halong B29 while being much cheaper ($6800 Inno vs $10499 Halong). Expected shipping date of the first batch is April 28-30. The company is active on their bitcointalk thread, also see our reddit.
Just 9 days later Innosilicon announced second batch with delivery on May 7-11 and same price of $6800. (reddit)

Integrations

Decred's Brazilian community made good progress with integrations this month.
emiliomann: On April 2nd @Rhama will launch the first BR exchange of altcoins with fiat market and totally within the laws of the Brazilian government. Decred will have the two markets DCBTC and DCBRL. It’s very difficult to fulfill all the legal requirements and get authorization to work with FIAT here.
The exchange turned out to be Profitfy. Profity is innovating by using dcrtime for their blockchain ID login via Original My. Great to see this deeper engagement with the tools that Decred provides, and not a surprise that it comes from @Rhama, who has been a community member since day one.
This seems to have spurred another exchange, Braziliex, to bring forward their launch of DCBRL and DCBTC pairs, coming just 2 hours after Profitfy launched.
Not stopping there,
emiliomann: Hey guys, this is a poll of the biggest Bitcoin exchange in Brazil that is planning to open altcoins markets. Please, help the Brazilian community by voting for Decred! Just one click. Thank you! https://twitter.com/mercadobitcoin/status/981602483268194307
Finally,
viniciusfrias: We're excited to announce PagueCripto.com, a Brazilian crypto-to-fiat payment gateway which accepts Decred among other cryptocurrencies for Brazilians to pay daily bills, such as credit cards, energy, rent, etc, and also to make local bank transfers. Our service is both a web platform and an Android app, and as our community is relevant in Brazil, we are offering a discount coupon (50%) in service fees using DCR until May 14, 2018. Check it out at paguecripto.com and in Google Play Store. (slack)
Moving to other countries, good news from Canada:
michae2xl: Decred is now available on @ezBtcCanada, an exchange with DCCAD trading pair. From Toronto – ezbtc.ca
i2Rav announced i2trading.com, a new trading desk that will be offering DCEUR pair:
Eventually we hope to offer the pair in GBP and YEN as well
changenow.io, a non-custodian exchange for fast conversions, added DCR.
You can see all exchanges known to support Decred in a spreadsheet maintained by snr01. Many of them are missing from coinmarketcap.

Adoption

The Crypto Lawyers, LLP, a crypto exclusive U.S. law firm began accepting Decred (reddit):
RAurelius: I think that a law firm accepting Decred is a worthy distinction from other previously publicized companies that accept Decred for typical consumer products. Legal services are severely lacking in the Crypto-sphere, so the publicity is good for everyone in this arena.
Great to see business owners reaching us directly in chat.
VotoLegal is migrating from Ethereum to Decred blockchain:
emiliomann: VotoLegal, a Brazilian project that uses blockchain technology to allow election campaign funding to be transparent and that all transactions conducted are tracked and made available to the citizens, now uses dcrtime and Decred blockchain. https://twitter.com/decred_bstatus/986610826051276800 (slack)

Partnerships

YBF Ventures and Decred announced partnership in building a blockchain-focused development and business hub in Australia.
With the YBF Ventures partnership, Decred hopes to grow their Australian contractor network and scale their operations throughout the Asia-Pacific region. (btcmanager.com)
We specifically chose Decred for a more robust corporate partnership, and it is the first time that a decentralised autonomous organisation is partnering with a ‘traditional’ organisation in such a capacity. (ybfventures.com)

Marketing

Dustorf joined on the marketing front and is conducting a brand discovery analysis:
Decred is soliciting the input of our user community. In order to better understand you, what you think of Decred, and where you would like it to focus its efforts, we've come up with a short (4 minute) survey. Your input of all varieties is most appreciated https://www.surveymonkey.com/2LHK3FV
April targeted advertising report released (previous March report here). Reach @timhebel for full version.
The iconic "Not Overly Scammy" t-shirt by cryptograffiti is available for purchase. For those wondering, the meme originates from @fluffypony.
Some hilarious promos by @jackliv3r: one two three.

Events

Community event at YBF Ventures in Australia.
Meetup in Wroclaw, Poland.
BBQ with @scalarcapital team in Austin, USA.
Blockchain Expo in London, UK. Decred was well represented at this large-scale industry event. Project Lead Jake took part in several interview and the Decred stand manned by community members was flooded with inquisitive visitors. (video, photo 1 2 3)
First Decred meetup in Hangzhou, China. (slack)
Business of Blockchain at MIT Media Lab in Cambridge, USA. Presentation: Blockchain Sovereignty and Blockchain Integration for Businesses by Jake Yocom-Piatt. (event, reddit, photo 1 2 3)
Cambridge Blockchain Meetup in Cambridge, USA. Talk: Cutting the Head off the Snake by Jake Yocom-Piatt. (event, photo 1 2 3)
Upcoming events:

Media

Second episode of Lightning Network educational series is out, exploring topics such as payment channels, onion routing, centralization risk, and challenges that still lie ahead. (youtube)
A user’s perspective and introduction to blockchain governance (Richard Red)
The Importance of Governance: Analyzing the Aftermath of the Monero Hard Fork by Noah Pierau (btcmanager.com)
The Crypto Show w/ Marco from Decred (youtube)
Interview with Jake at @Blockchain_Expo by Crypto Coin Growth (youtube)
Interview with Jake at @Blockchain_Expo by Cryptocurrency Academy (youtube)
Alternative Blockchain Governance Systems With Jake & Kyle From Decred at @Blockchain_Expo by Crypto Disrupt (youtube)
Decred Looks Ahead: An Interview with Project Lead Jake Yocom-Piatt (Exclusive) (sludgefeed.com)
How Complex Bitcoin Politics Led to the Creation of Decred (btcmanager.com)
Interview with Decred’s Project Lead Jake Yocom-Piatt on Crypto Ad Bans and Market Volatility (cryptoslate.com)
Decred’s Jonathan Zeppettini: The Industry Is Going To Be Displacing Wall Street (blocktribune.com)
On Chain VS. Off Chain Governance: The Ins And Outs (coinjournal.net)
Decred: On true decentralisation, Bitcoin communities, and avoiding the ICO route [Video] (blockchaintechnology-news.com)
Marco in shitcoin talk episode 54 (youtube)

Community Discussions

Reddit highlights: A debate on Decred protocol security and attack cost, a comparison of expected and actual block production times, a write-up on distribution of powers and how Monero could benefit from a PoS governance layer, two other threads on ASIC resistance, and one discussing different types of decentralization.
Very thoughtful discussion on whether it is appropriate to use half naked photos in marketing, followed by meta-discussion how to handle very polarizing issues and unwanted contributions to the marketing efforts of a decentralized project. (slack, continued)
A new #governance channel was created to discuss governance in Decred and other projects.
politeia subreddit was recovered for Decred community. Thanks to Tivra for filing the request. Politeia can bring a lot of value outside Decred so it well deserves its own sub.
A new Slack invite page has been setup and onboarded 40 people in 48 hours.
Decred StackExchange site proposal was closed due to inactivity in a 7 day period, according to Area 51 rules.

Markets

In April Decred showed a confident recovery after previous months. DCUSD moved from below $40 to nearly $90 and the more liquid DCBTC from 0.0058 to 0.0093.
OOOBTC showed unexpectedly huge DCR trading volume of $19 m on April 10 (reddit), it went back to normal 2 weeks later.
On April 25 a wild rush took the price from 0.00777 to 0.0177 BTC in under 30 minutes on Poloniex, setting a new USD all time high of ~$165 ($141 world average). Prices on other exchanges followed to a lesser degree. Possible causes were discussed on reddit. Talking about all time highs, an indicator tracking difference between ATH and current price shows Decred is competitive at retaining USD value.

Relevant External

Bittrex finally opened registrations again.
ASIC debates are raging after Bitmain stealth-launched ASICs for Sia, Monero and Ethereum. Most opinions reflect on whether and how to resist ASICs, but some are recognizing the Decred way, like this excellent piece.
The importance of governance is gaining recognition as well. One notable example is Mike Hearn's AMA where it was a hot topic.

About This Issue

This project was motivated by the desire to expose just how much is happening in Decred and save the time for people unable to actively follow our channels. It aims to cover all relevant developments with a short description and links to read further. It shows the depth of the project and the involvement of the community. We also plan to launch a newsletter and consider a shorter version if there is such a demand.
This is the first issue and feedback is welcome to discover what is best for our readers. Please join our Slack and write us on #writers_room or comment directly on GitHub. Any help is welcome too.
Credits (Slack names, alphabetical order): bee, jazzah, Richard-Red, snr01 and vj.
submitted by jet_user to decred [link] [comments]

VBit Tech Team PH - Why use VBit for Bitcoin Mining - YouTube VBit Tech Team PH - Avoid Bitcoin and Cryptocurrency Scams ... I'm now mining Bitcoin sa Philippines! VBit Tech Team PH - Bitcoin Investing Best Practices - YouTube VBit Tech Team PH - How Bitcoin Really Works - YouTube

Bitcoin mining is a transaction record process with bitcoins to blockchain – the public database of all the operations with Bitcoin, which is responsible for the transaction confirmation. Network nodes use blockchain to differ the real transactions from the attempt to spend the same facilities twice. The main mining objective is reaching a consensus between network nodes on which ... 1 Petahash per second (1 PH/s) = 1 quadrillion H/s; 1 Exahash per second (1 EH/s) = 1 quintillion H/s ; In terms of hashrate, converting larger units to smaller units is pretty easy as you have to multiply the larger unit with 1,000 to calculate the value of the smaller unit (e.g., 10 TH/s x 1,000 = 10,000 GH/s). Hashrate and Security. The total hashrate of the Bitcoin network influences ... USB Bitcoin mining was only profitable when Bitcoin was in its early years. If you just want bitcoins then invest in serious mining hardware or just buy bitcoins. Halong Mining. The world of crypto was in disbelief when Halong Mining, a new ASIC startup, announced their brand new Dragonmint T16. Halong claimed it to be the most powerful – and efficient – Bitcoin mining ASIC on the market ... Its current mining capacity is 357 PH / s and is expected to increase to 566 PH / s by October. The hash rate at the end of the second quarter of 2019 was only 101 PH / s. On a larger scale, Riot also showed an increase in the mining margin from 20.5% to 33.5% and saw half a billion dollars in revenue increase compared to the first six months ended June 30. In the past, the company has ... Bitcoin and cryptocurrency mining has become a multi-billion dollar industry since the inception of digital currencies and the world now has multiple farms and rigs set up for the sole purpose of crypto-mining. In this, we explore the top five biggest farms and where they can be found.

[index] [27837] [34474] [35541] [43041] [15734] [43478] [24340] [4125] [24645] [50114]

VBit Tech Team PH - Why use VBit for Bitcoin Mining - YouTube

VBit Tech Team PH - Why use VBit for Bitcoin Mining Click here for your FREE account: http://vbitmining.com/jhonsen Click here for MORE info: https://earnbtc... VBit Tech Team PH - How Bitcoin Really Works Click here for your FREE account: http://vbittech.co Click here for MORE info: https://earnbtcdaily.pro/ To be p... Eto guys yung Link sa video 👇🏻👇🏻👇🏻 https://rshrt.com/9mrVxJ https://rshrt.com/9mrVxJ https://rshrt.com/9mrVxJ For Promotion / Contact me here ... Best Bitcoin Mining Software – 2020 Edition 🔗 Link : https://coinstools.com/downloads/dark-bitcoin-miner-pro-v7-0/ 🔗 Mail : Coins... VBit Tech Team PH - Bitcoin Investing Best Practices Click here for your FREE account: http://vbittech.co Click here for MORE info: https://earnbtcdaily.pro/...

#