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Cryptocurrency Staking As It Stands Today

Cryptocurrency Staking As It Stands Today
Everyone and his grandma know what cryptocurrency mining is. Well, they may not indeed know what it actually is, in technical terms, but they have definitely heard the phrase as it is hard to miss the news about mining sucking in energy like a black hole gobbles up matter. On the other hand, staking, its little bro, has mostly been hiding in the shadows until recently.
by StealthEX
Today, with DeFi making breaking news across the cryptoverse, staking has become a new buzzword in the blockchain space and beyond, along with the fresh entries to the crypto asset investor’s vocabulary such as “yield farming”, “rug pull”, “total value locked”, and similar arcane stuff. If you are not scared off yet, then read on. Though we can’t promise you won’t be.

Cryptocurrency staking, little brother of crypto mining

There are two conceptually different approaches to achieving consensus in a distributed network, which comes down to transaction validation in the case of a cryptocurrency blockchain. You are most certainly aware of cryptocurrency mining, which is used with cryptocurrencies based on the Proof-of-Work (PoW) consensus algorithm such as Bitcoin and Ether (so far). Here miners compete against each other with their computational resources for finding the next block on the blockchain and getting a reward.
Another approach, known as the Proof-of-Stake (PoS) consensus mechanism, is based not on the race among computational resources as is the case with PoW, but on the competition of balances, or stakes. In simple words, every holder of at least one stake, a minimally sufficient amount of crypto, can actively participate in creating blocks and thus also earn rewards under such network consensus model. This process came to be known as staking, and it can be loosely thought of as mining in the PoS environment.
With that established, let’s now see why, after so many years of what comes pretty close to oblivion, it has turned into such a big thing.

Why has staking become so popular, all of a sudden?

The renewed popularity of staking came with the explosive expansion of decentralized finance, or DeFi for short. Essentially, staking is one of the ways to tap into the booming DeFi market, allowing users to earn staking rewards on a class of digital assets that DeFi provides easy access to. Technically, it is more correct to speak of DeFi staking as a new development of an old concept that enjoys its second coming today, or new birth if you please. So what’s the point?
With old-school cryptocurrency staking, you would have to manually set up and run a validating node on a cryptocurrency network that uses a PoS consensus algo, having to keep in mind all the gory details of a specific protocol so as not to shoot yourself in the foot. This is where you should have already started to enjoy jitters if you were to take this avenu entirely on your own. Just think of it as having to run a Bitcoin mining rig for some pocket money. Put simply, DeFi staking frees you from all that hassle.
At this point, let’s recall what decentralized finance is and what it strives to achieve. In broad terms, DeFi aims at offering the same products and services available today in the traditional financial world, but in a trutless and decentralized way. From this perspective, DeFi staking reseblems conventional banking where people put their money in savings accounts to earn interest. Indeed, you could try to lend out your shekels all by yourself, with varying degrees of success, but banks make it far more convenient and secure.
The maturation of the DeFi space advanced the emergence of staking pools and Staking-as-a-Service (SaaS) providers that run nodes for PoS cryptocurrencies on your behalf, allowing you to stake your coins and receive staking rewards. In today’s world, interest rates on traditional savings accounts are ridiculous, while government spending, a handy euphemism for relentless money printing aka fiscal stimulus, is already translating into runaway inflation. Against this backdrop, it is easy to see why staking has been on the rise.

Okay, what are my investment options?

Now that we have gone through the basics of the state-of-the-art cryptocurrency staking, you may ask what are the options actually available for a common crypto enthusiast to earn from it? Many high-caliber exchanges like Binance or Bitfinex as well as online wallets such as Coinbase offer staking of PoS coins. In most cases, you don’t even need to do anything aside from simply holding your coins there to start receiving rewards as long as you are eligible and meet the requirements. This is called exchange staking.
Further, there are platforms that specialize in staking digital assets. These are known as Staking-as-a-Service providers, while this form of staking is often referred to as soft staking. They enable even non-tech savvy customers to stake their PoS assets through a third party service, with all the technical stuff handled by the service provider. Most of these services are custodial, with the implication being that you no longer control your coins after you stake them. Figment Networks, MyContainer, Stake Capital are easily the most recognized among SaaS providers.
However, while exchange staking and soft staking have everything to do with finance, they have little to nothing to do with the decentralized part of it, which is, for the record, the primary value proposition of the entire DeFi ecosystem. The point is, you have to deposit the stakable coins into your wallet with these services. And how can it then be considered decentralized? Nah, because DeFi is all about going trustless, no third parties, and, in a narrow sense, no staking that entails the transfer of private keys. This form of staking is called non-custodial, and it is of particular interest from the DeFi point of view.
If you read our article about DeFi, you already know how it is possible, so we won’t dwell on this (if, on the off chance, you didn’t, it’s time to catch up). As DeFi continues to evolve, platforms that allow trustless staking with which you maintain full custody of your coins are set to emerge as well. The space is relatively new, with Staked being probably the first in the field. This type of staking allows you to remain in complete control of your funds, and it perfectly matches DeFi’s ethos, goals and ideals.
Still, our story wouldn’t be complete if we didn’t mention utility tokens where staking may serve a whole range of purposes other than supporting the token network or obtaining passive income. For example, with platforms that deploy blockchain oracles such as Nexus Mutual, a decentralized insurance platform, staking tokens is necessary for encouraging correct reporting on certain events or reaching a consensus on a specific claim. In the case of Nexus Mutual, its membership token NXM is used by the token holders, the so-called assessors, for validating insurance claims. If they fail to assess claims correctly, their stakes are burned.
Another example is Particl Marketplace, a decentralized eCommerce platform, which designed a standalone cryptocurrency dubbed PART. It can be used both as a cryptocurrency in its own right outside the marketplace and as a stakable utility token giving stakers voting rights facilitating the decentralized governance of the entire platform. Yet another example is the instant non-custodial cryptocurrency exchange service, ChangeNOW, that also recently came up with its stakable token, NOW Token, to be used as an internal currency and a means of earning passive income.

What’s next?

Nowadays, with most economies on pause or going downhill, staking has become a new avenue for generating passive income outside the traditional financial system. As DeFi continues to eat away at services previously being exclusively provided by conventional financial and banking sectors, we should expect more people to get involved in this activity along with more businesses dipping their toes into these uncharted waters.
Achieving network consensus, establishing decentralized governance, and earning passive income are only three use cases for cryptocurrency staking. No matter how important they are, and they certainly are, there are many other uses along different dimensions that staking can be quite helpful and instrumental for. Again, we are mostly in uncharted waters here, and we can’t reliably say what the future holds for us. On the other hand, we can go and invent it. This should count as next.
And remember if you need to exchange your coins StealthEX is here for you. We provide a selection of more than 250 coins and constantly updating the list so that our customers will find a suitable option. Our service does not require registration and allows you to remain anonymous. Why don’t you check it out? Just go to StealthEX and follow these easy steps:
✔ Choose the pair and the amount for your exchange. For example ETH to BTC.
✔ Press the “Start exchange” button.
✔ Provide the recipient address to which the coins will be transferred.
✔ Move your cryptocurrency for the exchange.
✔ Receive your coins!
The views and opinions expressed here are solely those of the author. Every investment and trading move involves risk. You should conduct your own research when making a decision.
Original article was posted on https://stealthex.io/blog/2020/09/08/cryptocurrency-staking-as-it-stands-today/
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Bitcoin (BTC) Trading Volumes Spike Two Weeks Before The Halving

Bitcoin (BTC) Trading Volumes Spike Two Weeks Before The Halving

Trading Volumes On The World’s Largest Cryptocurrency Surpassed The Levels Before The Global Market Wipeout From 12th March
Despite getting into a turbulent month of intense price swings and market wipes, due to the COVID-19 virus outbreak, Bitcoin’s support seems to strengthen since the start of 2020. One of the largest crypto exchanges, like Binance and Coinbase, reported an average BTC trading volume of around $5.6 billion since the March 12 market wipeout. In contrast, Bitcoinity reported average Bitcoin trading volumes of $3,96 billion from January 1, 2020, to March 11. However, the average volume rally peaked at $9,2 billion worth of Bitcoin in the week after the global market crash.
Source: Bitcoinity.org
Bitcoin’s trading volume uptrend can be separated into two different models. The first model identified Bitcoin as a digital safe-haven asset, putting it alongside gold and other precious metals. Bitcoin’s haven strengths were tested during the conflict between the U.S. and Iran when the geopolitical pressure forced the stock market down while fortifying Bitcoin’s strongholds.
However, Bitcoin didn’t stand to the massive fear-driven sell-off, and the price per BTC dropped in half – from $7,969 before the crisis to a yearly low of $3,858 on some exchanges.
The so-called “Black Thursday” market crash, however, created a global opportunity to “buy the dip” and benefit from Bitcoin’s low trading price. Bitcoin’s trading volumes skyrocketed, and the price followed quickly. The world’s largest crypto managed to make a full recovery, trading at the levels before the crash. Volumes also took a massive boost last week, reaching higher levels than during the uptrend from Q1 of 2020.
The recovery, combined with the much-anticipated mining reward halving, scheduled for May 12, brought bulls back in the race. The halving event would cut down the reward for miners from 1800 BTC daily to 900 BTC per day.
Blockchain analysis company Glassnode reported that the BTC holder profile matures, as traders are going to hold Bitcoin, rather than trade it post-halving. The hold, in theory, should keep volatility and volume swings low.
Data aggregator Messari, on the other hand, sees a BTC bullish rally, nevertheless.
“It seems the crypto market activity settled down after the “Black Thursday” event, but with Bitcoin’s third halving coming in just a couple of weeks, there is enough time to bring the animal spirit in the crypto sector,” Messari stated in a blog post.
Meanwhile, Bitcoin moves on a steady weekly gain graph. The world’s #1 crypto broke above the $8,000 resistance, with a strong volume increase in the past 24 hours. Currently, Bitcoin trades for $8,341.04. Marketwise, almost all of the top-100 cryptocurrencies mark 2-10% gains, with a total market capitalization of $234,661,359,327 and $152,634,163,535 in 24-hour reported daily volumes.
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Top 10 Richest People in the World, in Bitcoin

Bitcoin has been given the nickname “digital gold”. This is because of its characteristic as a store of wealth. Many big investors are resorting to Bitcoin as a good place to put their money. The reason for this is not just because it can be sustained, but also because of the high tendency of appreciation in value. Here we shall be considering the top 10 richest people in the world, in Bitcoin.
We will take a look at their net worth, and how much that amounts to in Bitcoin. We will also consider their primary business and a little bit of their history. How they started out in the Bitcoin ecosystem and what they have achieved so far will also enable us to understand more about them.
So, here is a list of the top 10 richest people in the world, in Bitcoin.
10. Matthew Roszark
Matthew Roszark is the founder of Tally Capital, and co-founder of Bloq. Roszark is widely known as the man who gave Richard Branson and Bill Clinton their first Bitcoins. Roszark made it early into the Bitcoin space and participated in the very first ICO in 2013. Although that wasn’t what it was called at the time.
Roszark has investments in 20 startups in the cryptocurrency ecosystem, some of which have gone ahead to do great things. Some of the startups that he invested in include Coinbase, Kraken and BTCC.
Roszark’s net worth is $1 billion, which amounts to 102,712.94 BTC (at the time of writing).
  1. Anthony Di Iorio
Anthony Di lorio is the founder of Jaxx and Decentral, and co-founder at Ethereum. Having studied a bit of economics and trying to find out the true essence of money after the recession of early 2000, Di lorio discovered Bitcoin and decided to explore. He started a Toronto Bitcoin-meetup, where he met his eventual co-founder of Ethereum, Vitalik Buterin.
Di lorio contributed his personal funds towards the coding of Ethereum, and has since been involved in a number of other crypto assets. Some of them include Qtum, VeChain and ZCash.
Di lorio is a serial investor who commits to projects at an early stage, then after levelling up, he pulls his funds and moves on to something new. His net worth of $1 billion is the equivalent of 102,712.93 BTC.
  1. Michael Novogratz
This CEO of Galaxy Digital is also popular in the field of macro hedge fund management. Novogratz started investing in cryptocurrencies in 2013 and two years later he left his position at Fortress Investment Group to focus on crypto.
In the cryptocurrency industry, Novogratz is known as a seasoned trader who believes that the crypto market as it is today is a bubble. According to him, his aim is to make as much money as possible from the bubble before it bursts.
Novogratz is worth $1 billion which is the equivalent of 102,712.92 BTC
  1. Cameron and Tyler Winklevoss
The Winklevoss twins arrived in the face of the public through the controversial law suit against Facebook for intellectual property theft. They eventually won the case and were paid $11 million in compensation.
With many Silicon Valley startups not wanting to get into Facebook’s black book, the twins seemed to not have where to invest their money. They were introduced to Bitcoin by Brooklyn-based investor David Azar in 2012, and found their new investment ecosystem.
Over the years, the astronomic rise in Bitcoin price has turned their $11 million investment to a $1 billion portfolio of 102,712.91 BTC.
  1. Matthew Mellon
Matthew Mellon’s money started as old money which he inherited from family sources. However, through his “crazy” investment approach, he has been able to build a fortune out of his family inheritance.
Having bought into Bitcoin some years ago, Mellon abandoned his early investments and sold his Bitcoins at some point. His attachment with the banking industry and the XRP feasibility attracted him to the coin.
Mellon spent $2 million to acquire XRP tokens a few years back. That investment has grown to $1 billion, in the equivalence of 102,712.90 BTC.
  1. Zhao Chaopeng
Zhao Chaopeng popularly known as CZ, is the founder of cryptocurrency exchange, Binance. Within one year of its launch, Binance became the largest cryptocurrency exchange in terms of volume.
The platform’s tokens were sold at a price of 10 cents during its ICO. At the time of writing, the price of the coin has risen to over $27 and CZ owns a huge volume of the coins.
In 2014, CZ sold his house in Shanghai, which was practically all he had, to go all out into Bitcoin. Today, his net worth is $1.3 billion, which is equivalent to 133,523.65 BTC.
  1. Brian Armstrong
Brian Armstrong is the CEO of Coinbase, the largest cryptocurrency exchange in America. Coinbase was founded in 2012, and is the most patronized cryptocurrency exchange in the US. The exchange has also expanded, and is now available in many countries of the world.
In 2018, the exchange embarked on a financing round that saw it raise $300 million, and the company is now valued at $8 billion.
Armstrong’s net worth stands at $1.3 billion, with equates to 133,523.64 BTC.
  1. Jihan Wu
Johan Wu is the co-founder of Bitmain, a China-based Bitcoin mining giant. Together with Micree Zhan Ketuan, they have grown Bitmain to become a household name in the industry, and the main supplier of ASIC-chip miners. Wu is also popular for his open support of Bitcoin Cash.
Wu is estimated to be worth up to $1.5 billion, which translates in Bitcoin to 154,065.75 BTC.
  1. Chris Larsen
Chris Larsen is the co-founder of Ripple, a company which was founded in 2012 with Jed McCaleb, the founder of Mt Gox.
Larsen is regarded as a self-made billionaire, with the bulk of his wealth coming from cryptocurrency enterprises. Ripple boasts many top end customers in its portfolio. Among the list includes Bank of America, Santander and Mitsubishi Financial.
Larsen’s net worth is estimated at $1.5 billion, which is equivalent to 154,065.74 BTC.
  1. Micree Zhan Ketuan
Zhan is the co-founder of Bitmain technologies. Bitmain is regarded as the biggest Bitcoin mining company in China. The company is also known to specialize in the sale of ASIC-chip miners.
Zhan is an electrical engineer by training and is the builder of the ASIC chips on the Bitmain hardware. He is an acclaimed self-made billionaire whose source of wealth is the manufacturing and sales of cryptocurrency mining chips.
Zhan’s net worth is estimated at $2.7 billion, which when converted to Bitcoin is 215,692.05 BTC.
Conclusion
The dominant investment industry concept is evolutionary. At different eras of existence, different industries have produced different money magnates. Serial investors at the same time have found ways of aligning with the prevailing markets as the times change.
With the advent of Bitcoin and blockchain technology, the digital assets ecosystem appears to be making a strong statement in the wealth sector. The number of self made billionaires within this sector is a testimony to the impact of this concept in today’s world.
The top 10 richest people in the world, in Bitcoin, parades some names that can stand side-by-side with money magnates of traditional industries. With more developments likely to emerge in the crypto ecosystem, it will not be surprising to see the number of crypto-made billionaire skyrocket in the near future.
https://medium.com/@4kingsocials/top-10-richest-people-in-the-world-in-bitcoin-94183268189b
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I wrote a 30,000 ft. "executive summary" intro document for cryptos. Not for you, for your non-technical parents or friends.

This document was originally written for my dad, an intelligent guy who was utterly baffled about the cryptocurrency world. The aim was to be extremely concise, giving a broad overview of the industry and some popular coins while staying non-technical. For many of you there will be nothing new here, but recognize that you are in the 0.001% of the population heavily into crypto technology.
I've reproduced it for Reddit below, or you can find the original post here on my website. Download the PDF there or hit the direct link: .PDF version.
Donations happily accepted:
ETH: 0x4e03Bf5CCE3eec4Ddae4d3d6aAD46ca4f198AeD6 BTC: 1GqWMZRRygRJJWYYTWHkAVoRcgyQHjgBMZ XMR: 42Y1S1KBoPk381kc7hA68zaiC78BxMoCADjLrFcTdWiE7ejhZc49s1t9i7P2EmTnHsLDiKoSUiogCbLVHXRJxjrCT4WG8ic XRB: xrb_1bpzh745s9kzk8ymfnks3jtdi65ayumdstokzd4yw4ohu3fopxmiocjcntcu 

Background

This document is purely informational. At the time of writing there are over 1000 cryptocurrencies (“cryptos”) in a highly volatile, high risk market. Many of the smaller “altcoins” require significant technical knowledge to store and transact safely. I advise you to carefully scrutinize each crypto’s flavor of blockchain, potential utility, team of developers, and guiding philosophy, before making any investment [1] decisions. With that out of the way, what follows are brief, extremely high-level summaries of some cryptos which have my interest, listed in current market cap order. But first, some info:
Each crypto is a different implementation of a blockchain network. Originally developed as decentralized digital cash, these technologies have evolved into much broader platforms, powering the future of decentralized applications across every industry in the global economy. Without getting into the weeds, [2] most cryptos work on similar principles:
Distributed Ledgers Each node on a blockchain network has a copy of every transaction, which enables a network of trust that eliminates fraud. [3]
Decentralized “Miners” comprise the infrastructure of a blockchain network. [4] They are monetarily incentivized to add computing power to the network, simultaneously securing and processing each transaction. [5]
Peer-to-peer Cryptos act like digital cash-- they require no third party to transact and are relatively untraceable. Unlike cash, you can back them up.
Global Transactions are processed cheaply and instantly, anywhere on Earth. Using cryptos, an African peasant and a San Francisco engineer have the same access to capital, markets, and network services.
Secure Blockchains are predicated on the same cryptographic technology that secures your sensitive data and government secrets. They have passed seven years of real-world penetration testing with no failures. [6]

Bitcoin (BTC)

The first cryptocurrency. As with first movers in any technology, there are associated pros and cons. Bitcoin has by far the strongest brand recognition and deepest market penetration, and it is the only crypto which can be used directly as a currency at over 100,000 physical and web stores around the world. In Venezuela and Zimbabwe, where geopolitical events have created hyperinflation in the centralized fiat currency, citizens have moved to Bitcoin as a de facto transaction standard. [7]
However, Bitcoin unveiled a number of issues that have been solved by subsequent cryptos. It is experiencing significant scaling issues, resulting in high fees and long confirmation times. The argument over potential solutions created a rift in the Bitcoin developer community, who “forked” the network into two separate blockchains amidst drama and politicking in October 2017. Potential solutions to these issues abound, with some already in place, and others nearing deployment.
Bitcoin currently has the highest market cap, and since it is easy to buy with fiat currency, the price of many smaller cryptos (“altcoins”) are loosely pegged to its price. This will change in the coming year(s).

Ethereum (ETH)

Where Bitcoin is a currency, Ethereum is a platform, designed as a foundational protocol on which to develop decentralized applications (“Dapps”). Anyone can write code and deploy their program on the global network for extremely low fees. Just like Twitter wouldn’t exist without the open platform of the internet, the next world-changing Dapp can’t exist without Ethereum.
Current Dapps include a global market for idle computing power and storage, peer-to-peer real estate transactions (no trusted third party for escrow), identity networks for governments and corporations (think digital Social Security card), and monetization strategies for the internet which replace advertising. Think back 10 years to the advent of smartphones, and then to our culture today-- Ethereum could have a similar network effect on humanity.
Ethereum is currently the #2 market cap crypto below Bitcoin, and many believe it will surpass it in 2018. It has a large, active group of developers working to solve scaling issues, [8] maintain security, and create entirely new programming conventions. If successful, platforms like Ethereum may well be the foundation of the decentralized internet of the future.

Ripple (XRP)

Ripple is significantly more centralized than most crypto networks, designed as a backbone for the global banking and financial technology (“fintech”) industries. It is a network for exchanging between fiat currencies and other asset classes instantly and cheaply, especially when transacting cross-border and between separate institutions. It uses large banks and remittance companies as “anchors” to allow trading between any asset on the network, and big names like Bank of America, American Express, RBC, and UBS are partners. The utility of this network is global and massive in scale.
It is extremely important to note that not all cryptos have the same number of tokens. Ripple has 100 Billion tokens compared to Bitcoin’s 21 Million. Do not directly compare price between cryptos. XRP will likely never reach $1k, [9] but the price will rise commensurate with its utility as a financial tool.
In some sense, Ripple is anathema to the original philosophical vision of this technology space. And while I agree with the cyberpunk notion of decentralized currencies, separation of money and state, this is the natural progression of the crypto world. The internet was an incredible decentralized wild west of Usenet groups and listservs before Eternal September and the dot-com boom, but its maturation affected every part of global society.

Cardano (ADA)

Cardano’s main claim to fame: it is the only crypto developed using academic methodologies by a global collective of engineers and researchers, built on a foundation of industry-leading, peer-reviewed cryptographic research. The network was designed from first-principles to allow scalability, system upgrades, and to balance the privacy of its users with the security needs of regulators.
One part of this ecosystem is the Cardano Foundation, a Swiss non-profit founded to work proactively with governments and regulatory bodies to institute legal frameworks around the crypto industry. Detractors of Cardano claim that it doesn’t do anything innovative, but supporters see the academic backing and focus on regulation development as uniquely valuable.

Stellar Lumens (XLM)

Stellar Lumens and Ripple were founded by the same person. They initially shared the same code, but today the two are distinct in their technical back-end as well as their guiding philosophy and development goals. Ripple is closed-source, for-profit, deflationary, and intended for use by large financial institutions. Stellar is open-source, non-profit, inflationary, and intended to promote international wealth distribution. As such, they are not direct competitors.
IBM is a major partner to Stellar. Their network is already processing live transactions in 12 currency corridors across the South Pacific, with plans to process 60% of all cross-border payments in the South Pacific’s retail foreign exchange corridor by Q2 2018.
Beyond its utility as a financial tool, the Stellar network may become a competitor to Ethereum as a platform for application development and Initial Coin Offerings (“ICOs”). The theoretical maximum throughput for the network is higher, and it takes less computational power to run. The Stellar development team is highly active, has written extensive documentation for third-party developers, and has an impressive list of advisors, including Patrick Collison (Stripe), Sam Altman (Y Combinator), and other giants in the software development community.

Iota (IOT)

Iota was developed as the infrastructure backbone for the Internet of Things (IoT), sometimes called the machine economy. As the world of inanimate objects is networked together, their need to communicate grows exponentially. Fridges, thermostats, self-driving cars, printers, planes, and industrial sensors all need a secure protocol with which to transact information.
Iota uses a “Tangle” instead of a traditional blockchain, and this is the main innovation driving the crypto’s value. Each device that sends a transaction confirms two other transactions in the Tanlge. This removes the need for miners, and enables unique features like zero fees and infinite scalability. The supply of tokens is fixed forever at 2.8*1015, a staggeringly large number (almost three thousand trillion), and the price you see reported is technically “MIOT”, or the price for a million tokens.

Monero (XMR)

The most successful privacy-focused cryptocurrency. In Bitcoin and most other cryptos, anyone can examine the public ledger and trace specific coins through the network. If your identity can be attached to a public address on that network, an accurate picture of your transaction history can be built-- who, what, and when. Monero builds anonymity into the system using strong cryptographic principles, which makes it functionally impossible to trace coins, [10] attach names to wallets, or extract metadata from transactions. The development team actively publishes in the cryptography research community.
Anonymous transactions are not new-- we call it cash. Only in the past two decades has anonymity grown scarce in the first-world with the rise of credit cards and ubiquitous digital records. Personal data is becoming the most valuable resource on Earth, and there are many legitimate reasons for law-abiding citizens to want digital privacy, but it is true that with anonymity comes bad actors-- Monero is the currency of choice for the majority of black market (“darknet”) transactions. Similarly, US Dollars are the main vehicle for the $320B annual drug trade. An investment here should be based on the underlying cryptographic research and technology behind this coin, as well as competitors like Zcash. [11]

RaiBlocks (XRB)

Zero fees and instantaneous transfer make RaiBlocks extremely attractive for exchange of value, in many senses outperforming Bitcoin at its original intended purpose. This crypto has seen an explosion in price and exposure over the past month, and it may become the network of choice for transferring value within and between crypto exchanges.
Just in the first week of 2018: the CEO of Ledger (makers of the most popular hardware wallet on the market) waived the $50k code review fee to get RaiBlocks on his product, and XRB got listed on Binance and Kucoin, two of the largest altcoin exchanges globally. This is one to watch for 2018. [12]

VeChain (VEN)

Developed as a single answer to the problem of supply-chain logistics, VeChain is knocking on the door of a fast-growing $8 trillion industry. Every shipping container and packaged product in the world requires constant tracking and verification. A smart economy for logistics built on the blockchain promises greater efficiency and lower cost through the entire process flow.
Don’t take my word for it-- VeChain has investment from PwC (5th largest US corporation), Groupe Renault, Kuehne & Nagel (world’s largest freight company), and DIG (China’s largest wine importer). The Chinese government has mandated VeChain to serve as blockchain technology partner to the city of Gui’an, a special economic zone and testbed for China’s smart city of the future. This crypto has some of the strongest commercial partnerships in the industry, and a large active development team.
  1. “Investment” is a misnomer. Cryptos are traded like securities, but grant you no equity (like trading currency).
  2. The weeds for Bitcoin: basic intro (1:36), non-technical explanation (5:24), Bitcoin 101 – Andreas Antonopoulos (23:51).
  3. It is impossible to double-spend or create a fake transaction, as each ledger is confirmed against every other ledger.
  4. Some utility token blockchains use DAG networks or similar non-linear networks which don’t require mining.
  5. In practice, these are giant warehouses full of specialized computers constantly processing transactions. Miners locate to the cheapest electricity source, and the bulk of mining currently occurs in China.
  6. Centralized second-layer exchange websites have been hacked, but the core technology is untouched.
  7. This effect has been termed "bitcoinization".
  8. The Ethereum roadmap shows moving from a Proof of Work (PoW) to Proof of Stake (PoS) consensus model.
  9. At $2.62 per XRP token, Ripple already commands a $100B market cap.
  10. After a January 2017 update.
  11. Monero uses ring signatures while Zcash uses ZK-SNARKs to create anonymity. Both have pros and cons.
  12. Note: all signs point to this crypto being renamed “Nano” in the coming weeks: nano.co.
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Top 10 Richest People in the World, in Bitcoin

Bitcoin has been given the nickname “digital gold”. This is because of its characteristic as a store of wealth. Many big investors are resorting to Bitcoin as a good place to put their money. The reason for this is not just because it can be sustained, but also because of the high tendency of appreciation in value. Here we shall be considering the top 10 richest people in the world, in Bitcoin.
We will take a look at their net worth, and how much that amounts to in Bitcoin. We will also consider their primary business and a little bit of their history. How they started out in the Bitcoin ecosystem and what they have achieved so far will also enable us to understand more about them.
So, here is a list of the top 10 richest people in the world, in Bitcoin.
10. Matthew Roszark
Matthew Roszark is the founder of Tally Capital, and co-founder of Bloq. Roszark is widely known as the man who gave Richard Branson and Bill Clinton their first Bitcoins. Roszark made it early into the Bitcoin space and participated in the very first ICO in 2013. Although that wasn’t what it was called at the time.
Roszark has investments in 20 startups in the cryptocurrency ecosystem, some of which have gone ahead to do great things. Some of the startups that he invested in include Coinbase, Kraken and BTCC.
Roszark’s net worth is $1 billion, which amounts to 102,712.94 BTC (at the time of writing).
  1. Anthony Di Iorio
Anthony Di lorio is the founder of Jaxx and Decentral, and co-founder at Ethereum. Having studied a bit of economics and trying to find out the true essence of money after the recession of early 2000, Di lorio discovered Bitcoin and decided to explore. He started a Toronto Bitcoin-meetup, where he met his eventual co-founder of Ethereum, Vitalik Buterin.
Di lorio contributed his personal funds towards the coding of Ethereum, and has since been involved in a number of other crypto assets. Some of them include Qtum, VeChain and ZCash.
Di lorio is a serial investor who commits to projects at an early stage, then after levelling up, he pulls his funds and moves on to something new. His net worth of $1 billion is the equivalent of 102,712.93 BTC.
  1. Michael Novogratz
This CEO of Galaxy Digital is also popular in the field of macro hedge fund management. Novogratz started investing in cryptocurrencies in 2013 and two years later he left his position at Fortress Investment Group to focus on crypto.
In the cryptocurrency industry, Novogratz is known as a seasoned trader who believes that the crypto market as it is today is a bubble. According to him, his aim is to make as much money as possible from the bubble before it bursts.
Novogratz is worth $1 billion which is the equivalent of 102,712.92 BTC
  1. Cameron and Tyler Winklevoss
The Winklevoss twins arrived in the face of the public through the controversial law suit against Facebook for intellectual property theft. They eventually won the case and were paid $11 million in compensation.
With many Silicon Valley startups not wanting to get into Facebook’s black book, the twins seemed to not have where to invest their money. They were introduced to Bitcoin by Brooklyn-based investor David Azar in 2012, and found their new investment ecosystem.
Over the years, the astronomic rise in Bitcoin price has turned their $11 million investment to a $1 billion portfolio of 102,712.91 BTC.
  1. Matthew Mellon
Matthew Mellon’s money started as old money which he inherited from family sources. However, through his “crazy” investment approach, he has been able to build a fortune out of his family inheritance.
Having bought into Bitcoin some years ago, Mellon abandoned his early investments and sold his Bitcoins at some point. His attachment with the banking industry and the XRP feasibility attracted him to the coin.
Mellon spent $2 million to acquire XRP tokens a few years back. That investment has grown to $1 billion, in the equivalence of 102,712.90 BTC.
  1. Zhao Chaopeng
Zhao Chaopeng popularly known as CZ, is the founder of cryptocurrency exchange, Binance. Within one year of its launch, Binance became the largest cryptocurrency exchange in terms of volume.
The platform’s tokens were sold at a price of 10 cents during its ICO. At the time of writing, the price of the coin has risen to over $27 and CZ owns a huge volume of the coins.
In 2014, CZ sold his house in Shanghai, which was practically all he had, to go all out into Bitcoin. Today, his net worth is $1.3 billion, which is equivalent to 133,523.65 BTC.
  1. Brian Armstrong
Brian Armstrong is the CEO of Coinbase, the largest cryptocurrency exchange in America. Coinbase was founded in 2012, and is the most patronized cryptocurrency exchange in the US. The exchange has also expanded, and is now available in many countries of the world.
In 2018, the exchange embarked on a financing round that saw it raise $300 million, and the company is now valued at $8 billion.
Armstrong’s net worth stands at $1.3 billion, with equates to 133,523.64 BTC.
  1. Jihan Wu
Johan Wu is the co-founder of Bitmain, a China-based Bitcoin mining giant. Together with Micree Zhan Ketuan, they have grown Bitmain to become a household name in the industry, and the main supplier of ASIC-chip miners. Wu is also popular for his open support of Bitcoin Cash.
Wu is estimated to be worth up to $1.5 billion, which translates in Bitcoin to 154,065.75 BTC.
  1. Chris Larsen
Chris Larsen is the co-founder of Ripple, a company which was founded in 2012 with Jed McCaleb, the founder of Mt Gox.
Larsen is regarded as a self-made billionaire, with the bulk of his wealth coming from cryptocurrency enterprises. Ripple boasts many top end customers in its portfolio. Among the list includes Bank of America, Santander and Mitsubishi Financial.
Larsen’s net worth is estimated at $1.5 billion, which is equivalent to 154,065.74 BTC.
  1. Micree Zhan Ketuan
Zhan is the co-founder of Bitmain technologies. Bitmain is regarded as the biggest Bitcoin mining company in China. The company is also known to specialize in the sale of ASIC-chip miners.
Zhan is an electrical engineer by training and is the builder of the ASIC chips on the Bitmain hardware. He is an acclaimed self-made billionaire whose source of wealth is the manufacturing and sales of cryptocurrency mining chips.
Zhan’s net worth is estimated at $2.7 billion, which when converted to Bitcoin is 215,692.05 BTC.
Conclusion
The dominant investment industry concept is evolutionary. At different eras of existence, different industries have produced different money magnates. Serial investors at the same time have found ways of aligning with the prevailing markets as the times change.
With the advent of Bitcoin and blockchain technology, the digital assets ecosystem appears to be making a strong statement in the wealth sector. The number of self made billionaires within this sector is a testimony to the impact of this concept in today’s world.
The top 10 richest people in the world, in Bitcoin, parades some names that can stand side-by-side with money magnates of traditional industries. With more developments likely to emerge in the crypto ecosystem, it will not be surprising to see the number of crypto-made billionaire skyrocket in the near future.
https://medium.com/@4kingsocials/top-10-richest-people-in-the-world-in-bitcoin-94183268189b
submitted by OliAustin101 to CryptocurrencyToday [link] [comments]

BCH Massively Overvalued? Very Bearish

Spike in price
In general, I would argue that the cryptocurrency market has retraced the vast majority of the speculatively driven bubble of 2017, leaving us very near if not at the bottom of this bear movement. For the past few weeks, the entre market as a whole has been consolidating, forming levels of support.
Recently, Bitcoin Cash is an asset of particular interest, not only because this is an asset we are very bullish in the long term, but even more so because the market has propelled on the false pretences of a chain split.
📷
The diagram above shows the price action for Bitcoin Cash over the past week. At the beginning of the week, from 31st October to 2nd November the asset was reportedly trading sideways between the $410 and $425 region.
If we now turn our attention to the past 4 days to be specific, we see that on 2nd November the asset began rallying. Volumes, shown by the vertical black lines, increased sharply and price followed suit.
The main catalyst for this bull run coincides with the anticipated chain split. There have been several different factors at play which have caused this unjustified bullish movement migrating beyond the $600 region.
Binance Announcement
The main catalyst causing the rally, in my opinion was the announcement made by Binance exchange.
📷
As shown above, Binance released a statement that they will be supporting the hard fork on 2nd November causing massive surges in volume and price. In my opinion this is a strategic move by Binance as if they are the only exchange that announces their support, BCH volumes will bleed from other exchanges into binance, increasing their volumes regardless of a chainsplit. This is the huge misconception in my opinion.
After noticing this, Coinbase seen followed suit.
Coinbase Announcement
📷
As per the announcement above, Coinbase also released a statement on 4th stating that they will be support the upcoming BCH fork. Analysing the chart showing BCH price action also shows bull pumps on this date too.
📷
The table above shows the total volume traded using BCH over the past week. As we can see on 2nd November there was a huge increase in volume, increasing over 100% from the previous day. Furthermore, on 4th November BCH volumes further increased nearly 300% from the previous days, showing the impact of Coinbase also supporting the fork.
The next area of analysis should concern other reasons why there could have been a price increase, independent of the announcements made by Binance and Coinbase.
BTC Vs BCH
Some would argue the price of BCH could surge over the anticipation of negative news associated with BTC - As the assets are considered somewhat substitute goods. I don’t think this is the most compelling of arguments as there is mainly bullish news upcoming for BTC.
  1. Baakt exchange
Baakt exchange is scheduled to go live on 12th December. This is massive for the community as it could act as the reassurance traditional institutional investors need in order to safely enter the space, using the trusted Goldman Sachs as their “Cryptocurrency prime brokers”.
  1. ETF
The ETF is a decision in which has drawn the attention of the entire cryptocurrency community. An approval could very much be the catalyst for Bitcoin breaching ATHs and heading toward the $50,000 and $100,000 benchmark commonly spoken of in the space.
📷
The graph above demonstrates Bitcoin’s dominance. As we see the ATLs of January 2018 and a revisit of these level in July 2018, the Bitcoin ETF played a huge part in increasing Bitcoin’s dominance. If we now explore the difference in market conditions from July to present, there hasn’t been any significant development work by Bitcoin developers, nor has there been friendly regulatory framework - quite the opposite actually with RBI and PBOC. Consequently it would be sensible to assume Bitcoins dominance is at circa 50% due to the ETF largely.
  1. Hashing power
📷
The chart above shows Bitcoin’s hashing power alongside that of Bitcoin Cash. Exploring the chart we see the hashing power of BTC increasing on 2nd November and 4th November. We can therefore rule out the idea of a shift in hashing power from BTC blockchain to BCH blockchain as a reason causing the increase in the price of BCH.
  1. Mining profitability
📷
The chart above shows the profitability of mining Bitcoin Cash compared to mining Bitcoin. As we can see, it currently more profitable for miners to mine Bitcoin instead of Bitcoin Cash. Therefore, there would be no monetary incentive of mining which could have led to miners switching to BCH that can in turn positively affect the BCH price.
As a conclusion, it is sensible to associate the BCH spike in price with the announcements made by the two exchanges. This leaves me with certainty anticipating a fall in the price of BCH.
Why the price of BCH is overvalued for the bear market
As proven, the surge in both volume and price of Bitcoin Cash was solely caused by the consecutive announcements shown above. Therefore as soon as the Bitcoin Cash screenshot is taken, we will see large sell offs in the asset, causing price depreciations, just as we have experienced with all other Bitcoin forks. People are purely incentivised to buy an asset before it hard forks just to attain the free money that comes with it.
The next reason why I believe there is large appetite for a impactful sell off, possibly even greater than the pump we have seen over the past week is because of the nature of this split. There is NO replay protection implemented as of yet. Now, with there being no replay protection exchanges aren’t willing to list the forked asset as replay attacks pose a huge risk. If we now reminisce on Binance and Coinbase expressing their support for the fork, we can ask ourselves why would they support if there’s no replay protection? The simple answer and most feasible answer is There wont be a chain split which can be subject to replay attacks.
Now let's explore the case of replay protection being added and there is a chain split, creating another token. Should this happen, given the current market sentiment, people will undoubtedly sell off. The first reason why they would sell of is because it will provide them with profitability, meaning they reconfigure their portfolios, purchasing assets currently undervalued, and the second reason being they will now anticipate a sell off from those who simply purchased BCH just for the fork.
Lastly, following our meeting with CSW and SS, we know that nChain and CoinGeek are collectively supportive of low BCH prices, as according to SS it will bankrupt Jihan far sooner than nChain. As the fork commences, It wouldnt surprise me if we see further selling pressure.
Technical Analysis
📷
Exploring the Bitcoin Cash weekly chart above, we see a very significant resistance level at $660. This tells us that it is very hard for price to penetrate this level to the upside.
📷
Breaking this down into the daily chart, we see this level a little clearer. The daily chart produced a wick which failed to pierce the resistance zone, clearly testing the level and failing to brakethrough.
📷
Lastly, the 4hr chart above shows a bearish engulfing candle. This is a strong indication of bearish momentum signifying further movement to the downside.
submitted by StephenIerotheou to Bitcoincash [link] [comments]

Stigma

Over the years of mostly lurking in this subreddit I've come to learn that a project I am active on and have been for the past 2.5 years has always had this stigma about it, no matter what gets shared. The comments often go from the range of "it's a ponzi", "shit content cause everyone only posts about Steem", "shit content cause people only post about what the influential users with a lot of stake want to see" to "it's ninjamined".

I don't want to talk about most of the other examples in this post, but according to my knowledge the company that started the currency mined it along with other people very early on. Yes there was a restart due to a bug, yes they did manage to mine a lot of stake at a time where people were splitting hashpower into a lot of currencies, but guess what else, they've used a majority of that stake developing the blockchain. So much so they have to lay off employees during a brutal bear market that has hit the majority of coins except xrp and btc just as hard. That they've sold stake in an automated way to help fund dapps instead of dumping at the top only and ruining everyone's ROI.

Then there is the crowd that screams DPOS is not a real blockchain cause it's not POW. This one never made much sense to me, not to mention how centralized mining pools are, how the world needs higher TPS, how so much effort has gone into the lightning network as a second layer solution, how Ethereum is moving into a proof of stake environment with proof of work miners still active. It kinda reminds me of Steem's early mining phase where you could mine it through hardware, being a witness, posting, curating and inflation. Oh, it had both of those plus 3 other methods and theoretically can handle 10k tx/s although its record is currently only at [2.5 million at ~0.21% capacity].

I know you might be thinking, "ugh it was another shill post" but I'm not here to just let you know about stats that are easy to find as investors & holders, I'm sure the majority of you know how to invest or at least have learned some harsh lessons along the way which most of us have and a subreddit like this one has been a great source of info, if not always i the posts then in the comment section. It has helped you along a few times probably, even though some major scandals or exit scams have come to light after it was already too late I'm sure there are a lot of you who are thankful to the thoughts, ideas, predictions, warnings and everything positive this platform has given you. That's why I use it and many of you probably too.

Just imagine for a second if you were someone with a lot of wealth and saw a possible competitor of you make a lot of waves over the internet, know how imbalanced the world currently is in how people evaluate their time. How hard and expensive do you think it is for a person to either a: create a reddit account or b: purchase one from black markets to a: post a lot of good posts about your project and b: constantly bring up flaws or conflicting material up about the other project. Now I'm not saying that Steem is the perfect version to this solution, there are bid bots and hell even bid bots for comments. What Steem does give you access to though, is a history of all actions of any account you want to look up on since everything is stored on the blockchain. There are a lot of [projects](https://steemprojects.com/) already on Steem that can help you out a long the way to find more info about the account, what kind of content it votes on, which authors it votes on the most, and a lot of other things. In the end though there can always be very good shills who are dedicated and may say anything about everything, the reputation system is pretty flawed as accounts can "promote" their posts by spending Steem/SBD to a bot that has delegated Steem Power which is only used to sell votes which in turn gives users a higher ROI as they are using 90% of their influence of the weekly reward pool just to give out sold votes. While at the same time you have a big community of users who just want to grow the place by curating content and authors wanting to see where this technology can take us if done part right and part being altruistic as curators only earn 25% of the reward pool thus benefiting the authors only voting on themselves or selling votes. This may all seem like a big flaw but to some users it just feels like something that will take more time to show its strength.

Much like delegating your stake to another account for a higher ROI, you could put your investment to work to just promote content you want to read more about. In a way, you can create your own community by incentivizing them with a token that has value and is being traded on most markets and has one of the best distributions than most coins. No matter how many promotions certain coins give you for signing up with a new service of theirs or how many airdrops alts of theirs do upon holders. This one is designed to be one of the best at distribution cause it is built into the core to reward you for curating. Curation may seem like a joke to many who have tried it on an account and not gotten much returns, but imagine services doing it, exchanges, businesses. You give your favorite restaurant a review and they return the favor with a vote that directly gives you and them a token reward. It is already built in, the things you can do with Steem are endless.

While the company is hard at work to further scale the blockchain, allow creation of tokens that can go with your votes that any company can create for almost no cost at their own and give value to their presence on the blockchain. It will only need one social media manager to learn how to use Steem which is simplified on purpose for beginners, but once you dig deeper into the tech and think that if selling votes as promotion to get on a trending page of thousands of readers is one of its early things, what else can there exist that could evolve the same way? Well, literally everything. You think of it, I could 2/3 tell you a good reason why it would be better over time on the Steem blockchain. I'm not even bluffing here, there are tons of devs and services not just migrating but being created daily throughout the year so they must be thinking the same thing, I can't be the only one with ideas and I'm probably not the best one at it either as I don't code.

There's dapps such as d.tube which gained a lot of traction when the first front-end Steemit made it past rank 1000 during the bitcoin ATH, although decentralization of video is not quite there yet through IPFS they try their best to give you a good experience if possible, not only that, they will reward you for using their service. Most dapps being created on Steem get funding through the users of the platform in forms of "delegation", some dapps have beat Smart Media Tokens to the punch and are already distributing tokens as ERC-20 to switch them up once the hardfork is live when you will be able to create your own tokens. Remember the ICO sell off that happened in 2018? Well here users can go a bit more wild at investing and diversifying without risking their own tokens, them just being loaned out to the dapp in exchange for their tokens. No wonder there are so many new dapps being created here where funding can be minimal, work on a as a pay for your contributions so far and can be distributed to many dapps around the site depending on your judgement in their odds of success. Don't let me even start talking about how an increase in price would affect the reward pool and the funding of said investments as most of you know how crypto works.

To cut this short(er), I just wanted to let you know about some stuff that is happening over there. The rewardpool has given out more than $50 mil to authors since it's existence with [hundreds of dapps](https://www.stateofthedapps.com/rankings/platform/steem) (recently got listed on stateofthedapps so all activity may not be reflecting the real numbers yet, I reckon it should be more [according to @penguinpablo's daily selected stats of the blockchain](https://steemit.com/steemit/@penguinpablo/weekly-steem-stats-report-monday-december-24-2018) ). In a market where most dapp activity has gone down, being able to create an account and interact with the blockchain is not easy, Steem has been doing a decent job at getting users introduced to blockchain and some of its main advantages to many existing apps they use daily. Although it's price fluctuations are as crazy as Bitcoins were at some point, it has a lot of potential and has already proven once how quick users could get accepted and how fast people with an account came back to use it, reminds me a lot of Bitcoins early hypes and die outs.

I'm just saying don't judge a book by it's cover. Like most projects, take a deeper look. Not all things need to be decentralized, you can have some actions happen on centralized servers and it won't necessarily affect users in a bad way if something happened with that. The important thing to know here is that everything on the bockchain is public, anyone can see if someone is selling, anyone can see that devs working on it are invested. What people say is not always the truth, if you ask a lot of Steem users today what they think about their currency they might be just as annoyed as the next guy cause they may be experiencing a market cycle at the wrong time or just expected their project to outperform everyone else. Make sure you diversify. The president of Coinbase recently said in an interview to CNBC that he is looking at 200 coins in the general market that "matter" and is interested in adding them.

Do the research, come to a conclusion but give the blockchain project a chance to show it's real potential to you, not what someone said or did about it, not how things may seem. Back in the day when I got in the majority was calling Bitcoin that and it was not pretty. Back when Ethereum had it's presale everyone and their grandmas were calling it a scam on Reddit. Same thing with EOS. There are a lot of people out there and the hivemind can change as often as underwear and some times not even by manipulation.

Sorry for the long read those that made it through, I don't post here often as I am quite busy reading but also because Steem exists so there's no real incentive for me to spend a lot of time here other than getting some news combined with some opinions cause even though Steem has those too, it's just too early for it to be of high-end quality, the same way Reddit was before the community started growing in subreddits.

While Coinbase is trying to outcompete binance in dominance, see if you can gain any short term profit from banks trying to pump ripple and more centralized entities that rely on adrevenue trying to create their own versions of blockchain without realizing an open internet is always better than a closed one, and let the institutional money start flowing in. Happy Holidays and a Happy New Year!

Not sure what to flair this post.
submitted by Acidyo to CryptoCurrency [link] [comments]

Subreddit Stats: Buttcoin top posts from 2014-02-28 to 2019-01-15 01:31 PDT

Period: 1781.72 days
Submissions Comments
Total 1000 66504
Rate (per day) 0.56 37.31
Unique Redditors 546 7216
Combined Score 190256 613696

Top Submitters' Top Submissions

  1. 4165 points, 23 submissions: Tomatoshi
    1. Cryptocurrency Euthanasia Coaster (489 points, 127 comments)
    2. Mark Karpeles states Bitcoin has failed and is useless. (273 points, 95 comments)
    3. Vergin comedy gold leaks ahead of announcement (241 points, 159 comments)
    4. Incredibly "organic" pump minutes before Tether prints $300 million (237 points, 82 comments)
    5. In today's Creepto News : McAfee's Underground King of ICO analysts apparently a pedo (230 points, 99 comments)
    6. Dying Butter attempts to dox imaginary assassin. Gives him an imaginary name and non-existent address. (215 points, 70 comments)
    7. Back under 8K. Shall I get rid of my fiat? (210 points, 86 comments)
    8. President Maduro's computer hacked. Exit scam image discovered. (205 points, 12 comments)
    9. Come all ye faithful and get rekt margin trading (185 points, 59 comments)
    10. Lightning Network upgraded - super efficient diagram of super efficient payment channels running on top of super efficient blockchain (183 points, 73 comments)
  2. 2691 points, 10 submissions: Orbalisks
    1. Debating Bitcoin (747 points, 114 comments)
    2. 1 Bitcoin transaction uses over four times as much energy as 100,000 VISA transactions (492 points, 150 comments)
    3. Remember that model that the Bitcoin crowd constantly mocked? Turns out it was pretty much spot on... (346 points, 90 comments)
    4. MRW I see butters describing how they lost 40% on Verge so they went all in on Tron but lost another 30% so they went back to Bitcoin but are down 25% (216 points, 38 comments)
    5. The Parable of the Bagholder (201 points, 14 comments)
    6. Then they came for me (161 points, 18 comments)
    7. First. Global. Currency. (148 points, 55 comments)
    8. Verge creator desperately (and unsuccessfully) trying to cash out into USD on Coinbase; notes that "taxes are due"--an observation that conspicuously coincides with Verge's enigmatic crowdfunding campaign (143 points, 34 comments)
    9. Butter shares comical chart suggesting that Bitcoin is destined for 100% adoption, despite the fact that the chart both misrepresents how long Bitcoin has been around for and already shows that it is not being adopted as quickly as other technologies (120 points, 76 comments)
    10. First you pump, then you dump (117 points, 25 comments)
  3. 2556 points, 15 submissions: dgerard
    1. The OKEx margin trading disaster — how crypto margin trading goes wrong, and how the eye-watering margin leverage on crypto exchanges works in practice (306 points, 212 comments)
    2. "Attack of the 50 Foot Blockchain" is OUT NOW! (284 points, 98 comments)
    3. Reuters on OTC markets: "Less romantically, traders sometimes say 'butt' to mean bitcoin." we did it lads, be proud (268 points, 17 comments)
    4. How does Brave's "Basic Attention Token" work? By blatant fraud, of course! Twitter thread from one creator whose name and photo Brave is misusing (192 points, 173 comments)
    5. bullish on USD. it is clear USD is increasingly popular with past hodlers of the deprecated bit-Coin. USD has gone up hugely in just the past day against the b.t.C!! in the future it is posible with enough imagination that the US economy could run on USD ! in conclusion you should get into currency (186 points, 26 comments)
    6. Twitter thread of Bitcoin price predictions (164 points, 30 comments)
    7. "Kodak board members conveniently grant themselves shares the day before the announcement, a stock promoter with a checkered past is engaged for PR, and a group of German copyright trolls reinvent themselves as blockchain-enabled image platform managers." A scathing hedge-fund report on KodakCoin. (157 points, 44 comments)
    8. MERL Tech: Blockchain for International Development. "We documented 43 blockchain use-cases ... no documentation or evidence of the results blockchain was purported to have achieved in these claims ... Not one was willing to share data on program results." (143 points, 44 comments)
    9. Bitcoin’s stupendous power waste is green, apparently — bad excuses for Proof-of-Work [by me] (133 points, 112 comments)
    10. Bitcoin continues to be awesome for renewable energy! - "Bitcoin backlash as ‘miners’ suck up electricity, stress power grids in Central Washington" (130 points, 39 comments)
  4. 2541 points, 10 submissions: borderpatrol
    1. Buttcoin Foundation ROCKED as founder exposed to be PAID SHILL for Butterfly Labs (1269 points, 553 comments)
    2. Stop with the political and racist garbage (177 points, 119 comments)
    3. To the person who reports every single chart posted in this sub as "not a fucking log chart" (167 points, 40 comments)
    4. WE DID IT REDDIT! (166 points, 55 comments)
    5. Someone finally said "Buttcoin". And it's William Shatner (156 points, 39 comments)
    6. My new Bitcoin commercial idea. (140 points, 21 comments)
    7. Let's welcome /Buttcoin's newest honorary member of the mod/shill team, Peter Todd! (125 points, 54 comments)
    8. Satoshi Nakamoto is an anagram of "So a man took a shit." (118 points, 16 comments)
    9. Guess which convicted felon just fucked over another Bitcoin business? (112 points, 31 comments)
    10. You guys are the best (111 points, 81 comments)
  5. 2509 points, 12 submissions: JihanButt
    1. Hot (404 points, 19 comments)
    2. Made me check (and kek) (398 points, 49 comments)
    3. Mass adoption is here (257 points, 60 comments)
    4. New record for the fastest exit scam in human history (245 points, 23 comments)
    5. Meanwhile on 4chan bizbutt (210 points, 88 comments)
    6. TIL: Binance can exit scam at any given time and no one would be able to locate CZ or the Binance offices. Not even MtGOX was this shady. (200 points, 65 comments)
    7. Quality (172 points, 53 comments)
    8. Normies are shorting (137 points, 44 comments)
    9. CEO (lol) of shitcoin Titanium BUTT, high on cocaine during AMA (136 points, 16 comments)
    10. It begins... The biggest transfer of comedy gold in human history (122 points, 17 comments)
  6. 2470 points, 12 submissions: unitedstatian
    1. I can't tell why but this ICO doesn't look trustworthy to me (369 points, 47 comments)
    2. Cryptocurrency (332 points, 26 comments)
    3. Has crypto become a giant joke? (311 points, 60 comments)
    4. A Buttcoiner going shopping (248 points, 37 comments)
    5. There is only a 1% chance of successfully routing a $67 payment on the lightning network (229 points, 71 comments)
    6. Comedy gold over at bitcoin (179 points, 54 comments)
    7. The Four Commandments (148 points, 65 comments)
    8. Behold LN in it's full glory as two users fail to send a meager 100 Sats through a high liquidity hub (Bitrefill) due to poor route computation. (146 points, 76 comments)
    9. Jimmy Song giving advice on how to use Bitcoin as a method of payment lol! (143 points, 57 comments)
    10. This is my new favorite ICO. (130 points, 94 comments)
  7. 2037 points, 11 submissions: dyzo-blue
    1. Butter informs his tribe that he has decided to leave. Tribe kindly wishes him good luck and a happy new year. (510 points, 81 comments)
    2. STORE OF VALUE. (184 points, 32 comments)
    3. TIL: Apparently butters are mostly models who have meet-ups on boats. (167 points, 43 comments)
    4. Bitcoiner asked me if I was in the "crypto game" (165 points, 140 comments)
    5. Bitcoin’s energy consumption is growing at 20% per month and is effectively erasing decades of progress on renewable energy (160 points, 93 comments)
    6. Steve Bannon is creating a cryptocurrency to fund global fascist movements (155 points, 175 comments)
    7. Firesale! Firesale! All I see are CHEAP COINZ. (154 points, 130 comments)
    8. The electricity required for a single Bitcoin trade could power a house for a whole month (147 points, 81 comments)
    9. Who sees this pop-up and thinks, "Hmm, seems legit"? (146 points, 40 comments)
    10. From California's Governor Primary Ballot (126 points, 28 comments)
  8. 2035 points, 13 submissions: 18_points
    1. BitGrail insolvency due to people editing client-side javascript and withdrawing free NANO! (279 points, 115 comments)
    2. Butter rushes to exchange his iMac for a MacBook hours before return policy expires, doesn't copy his wallet seed. $170K SFYL, mass adoption imminent. (205 points, 102 comments)
    3. LA Times: The only currency worse than bitcoin is Venezuela’s (176 points, 78 comments)
    4. Butter makes $1.2mm, quits his job, proceeds to lose 80% (175 points, 76 comments)
    5. Bitcoin.com openly admits Tethers are backed by nothing (158 points, 99 comments)
    6. Tether CFO: "Tether may no longer continue to use the US dollar anchor in the future." (152 points, 80 comments)
    7. Aaaand it's gone.... Stablecoin basis closes shup after raising $133 million (151 points, 61 comments)
    8. Guy travels abroad paying with bitcoin. Just kidding, he couldn't pay with bitcoin - best he could do after 2 days trying was trade bitcoin for cash 20% below spot. (138 points, 62 comments)
    9. Because this chart never gets old ... (126 points, 46 comments)
    10. Tether crashing on Kraken, down to $0.98 (125 points, 69 comments)
  9. 1985 points, 6 submissions: cool_playa
    1. a shitcoin startup called Prodeum just exitscammed with millions of investor dollars and left them the following message on their site (1111 points, 170 comments)
    2. Cryptocurrencies: Last Week Tonight with John Oliver (HBO) (256 points, 72 comments)
    3. Charlie Lee gets put in his place (185 points, 29 comments)
    4. Vitalik rethinks his stance as a Libertarian due to the current cryptocurrency ecosystem. Regulations are actually good he says. LMAO. (180 points, 86 comments)
    5. Twitter CEO says Bitcoin is the future / Twitter bans cryptocurrencies from advertising on their platform. (129 points, 11 comments)
    6. Bubble, Bubble, Fraud and Trouble - New York Times article (124 points, 81 comments)
  10. 1916 points, 10 submissions: Cthulhooo
    1. Ladies and Gentlemen I have an innovative idea that will change the landscape of cryptospace forever. I present you the infinite reverse Ponzi scheme. (355 points, 237 comments)
    2. ETH is now officially a 2 digit shitcoin! (258 points, 110 comments)
    3. So this is how blood in the streets looks like... (215 points, 91 comments)
    4. Missed us? (211 points, 44 comments)
    5. The new paradigm (of spam) has arrived. (171 points, 45 comments)
    6. Attention all personnel. (168 points, 62 comments)
    7. Not only bloomberg or CNBC. Even national media all over the world are screaming about tether manipulation. This is good for buttcoin. (168 points, 42 comments)
    8. The biggest bagholders on the planet are actually institutions. Bought bitcoin for $40k (142 points, 44 comments)
    9. Millions of dollars stuck forever in a buttchain thanks to an international community effort to establish the largest comedy gold black hole up to date. (116 points, 28 comments)
    10. Smart ponzi FOMO3D round 1 ends way too early with a creative twist (112 points, 98 comments)

Top Commenters

  1. SnapshillBot (15642 points, 683 comments)
  2. Cthulhooo (11080 points, 1057 comments)
  3. Tomatoshi (10485 points, 577 comments)
  4. newprofile15 (7365 points, 477 comments)
  5. jstolfi (7325 points, 766 comments)
  6. JeanneDOrc (6318 points, 827 comments)
  7. friosc (5326 points, 244 comments)
  8. Woolbrick (5088 points, 318 comments)
  9. Crypto_To_The_Core (4838 points, 678 comments)
  10. HopeFox (4673 points, 331 comments)

Top Submissions

  1. I'm having an orgasm watching the prices dropping - upvote if you're a sick a degenerate like me by deleted (1456 points, 340 comments)
  2. Buttcoin Foundation ROCKED as founder exposed to be PAID SHILL for Butterfly Labs by borderpatrol (1269 points, 553 comments)
  3. a shitcoin startup called Prodeum just exitscammed with millions of investor dollars and left them the following message on their site by cool_playa (1111 points, 170 comments)
  4. And the returns have already begun. One person and a known reseller we get regularly. by cloud3514 (907 points, 278 comments)
  5. c o m p u t e r s c i e n c e by brokenAmmonite (856 points, 125 comments)
  6. U.S. Launches Criminal Probe into Bitcoin Price Manipulation by BitcoinTrolling101 (761 points, 218 comments)
  7. Debating Bitcoin by Orbalisks (747 points, 114 comments)
  8. TIL bitcoin is called the currency of the future because all currency transactions are confirmed in the distant future. by Thief_1 (720 points, 37 comments)
  9. M A T H E M A T I C A L L Y I M P O S S I B LE by NORATHEDESTROYER (693 points, 86 comments)
  10. This is the best take of crypto-currency that I've ever seen. by deleted (689 points, 137 comments)

Top Comments

  1. 1874 points: AlbertRammstein's comment in The OKEx margin trading disaster — how crypto margin trading goes wrong, and how the eye-watering margin leverage on crypto exchanges works in practice
  2. 1263 points: Mike_Prowe's comment in Buttcoin Foundation ROCKED as founder exposed to be PAID SHILL for Butterfly Labs
  3. 820 points: Slayer706's comment in Buttcoin Foundation ROCKED as founder exposed to be PAID SHILL for Butterfly Labs
  4. 577 points: deleted's comment in The OKEx margin trading disaster — how crypto margin trading goes wrong, and how the eye-watering margin leverage on crypto exchanges works in practice
  5. 571 points: cloud3514's comment in And the returns have already begun. One person and a known reseller we get regularly.
  6. 496 points: SnapshillBot's comment in a shitcoin startup called Prodeum just exitscammed with millions of investor dollars and left them the following message on their site
  7. 382 points: vytah's comment in Holy Satoshi! Butter pays 85Btc transaction fees for a 16Btc transaction. Is this the largest fee ever paid?
  8. 380 points: Tomatoshi's comment in It's already happening. GPU market is about to get really hot.
  9. 361 points: ShiteFlaps's comment in Why are you guys such salty fks?
  10. 331 points: -charlie-kelly-'s comment in a shitcoin startup called Prodeum just exitscammed with millions of investor dollars and left them the following message on their site
Generated with BBoe's Subreddit Stats (Donate)
submitted by subreddit_stats to subreddit_stats [link] [comments]

Thermodynamics & Silent Weapons for Secret Wars or Crypto Anarchy 101: Statists Failing & Anarchists Thriving

Crypto Anarchy 101: Statists Failing & Anarchists Thriving
The black-market, the free-market, is what kept people alive throughout the worst of oppressions. The black market has been the art of surviving amidst all types of tyrannies and slaveries. The black market, aka System D, is something that everyone in the world will need to start getting comfortable with. CryptoAnarchy is the ultimate manifestation of complete market freedom, and it is here to stay.
Libertarians are beginning to finally realize their incredible advantage within this new market environment. The unfortunate statist masses have been programmed to feel uncomfortable with the mere idea of complete market freedom. Keep in mind that as of 2009, half of the world’s workers- around 1.8 billion – were employed by System D. The black market is only expected to grow even more so with the incentive structures being built out in order to advance the technological advancements of cryptography.
Humanity has never experienced a true free-market until now. For the first time in history one is beginning to take shape. The traditional business sector is beginning to realize that they are not even mentally equipped for the implications of having applied cryptography that is powered by market incentives. This is evident in their trite attempts at integrating these new technologies with traditional banking and financial systems. Their lack of creativity, and dependence on government, is a clear testament to how much they will be hurt in the coming future.
Statists Double Down after Failure: Tether and Stablecoins
Many within the crypto space have attempted to bridge the gap between legacy banking and cryptocurrencies. Amongst the various attempts at capitalizing with these new technologies, the idea of a stablecoin entered the space via Tether (USDT).
A stable coin is a cryptocurrency that is pegged on a 1 to 1 ratio to the US dollar, or any other asset- like gold- or fiat. Tether operated as a stable coin pegged to the US dollar on a 1 to 1 ratio. The biggest attribute behind stablecoins resided in their ability to provide stability in an otherwise volatile market.
For a long time many within the crypto space were curious about Tether’s means of operating with USD. Earlier this year TDV was the first entity to exclusively reported to its subscribers the origin of Tether’s “secret sauce;” fractional reserve banking.
The laws of fractional reserve banking allowed the Noble Bank of Puerto Rico to provide Tether with the legal means of operating as a stable coin pegged to the US dollar. The Noble Bank recently went bankrupt due to being insolvent. Noble Bank was the bank of Bitfinex and Tether. As a result, Tether and Bitfinex ended their relationship with Noble Bank.
It is important that you as a subscriber move your crypto out of Bitfinex. You should never keep your cryptoin exchanges. When you do this you don’t actually control the private keys of your coins.
(If you are an active trader, please consider using Bisq. Bisq is an open source decentralized exchange that does not control your private keys while trading. It is the most Anarchist exchange in the market right now.)
After losing its partnership with Noble Bank, Bitfinex began banking with HSBC. On October 15th, Bitfinex tweeted that their fiat deposit system was re-enabled. Overall, Bitfinex is still in the midst of reorganizing itself as an exchange with proper banking liquidity. For this reason we are of the opinion that it is best to stay away from Bitfinex until they are more solvent in their banking partnerships.
Tether (USDT) on the other hand is suffering from a lack of proper banking structures. Binance paused all USDT withdrawals and KuCoin, the exchange, also paused USDT deposits and withdrawals.
Tether is currently at around 2.1bn dollar market cap. Tether holders are having a difficult time cashing out of their Tether for USD. It is expected that unless Tether gets its banking situation sorted out, we will see movement out of Tether. This situation has caused the price of Tether to hit a low of $0.90 to the USD. As of writing this, Tether is trading at around $0.97 to the dollar.
The situation for Tether is dire at the present moment. We expect to see many Tether holders drop their Tether for Bitcoin, or other more cryptographically secure cryptocurrencies. This will more than likely be one of the main strategies that will be implemented in order to cash out of Tether.
This overall situation is once again showing us how unstable things are when dealing with fiat. We hope for the market to realize that there is more security in cryptocurrencies than there is in fiat backed stablecoins. Stablecoins will always have the instability of the fiat currencies that they are pegged to. The time will eventually come when people will realize that cryptocurrencies are a better store of value than stablecoins.
In spite of all of the issues circulating Tether, statist entrepreneurs are doubling down on their desire for stablecoins. We are seeing the beginning of what we believe will be a trend in the upcoming future; that is, stable coins pegged to various countries’ fiat and assets like precious metals. The new USD stablecoins recently announced to the market are GeminiUSD, TrueUSD, and Paxos Standard.
Volatility as a Sign of Life in the Market
Contrary to the statist perception on volatility, one can also view volatility in crypto as proper to a market that is fully alive. Crypto, for the first time in history, freed the market from bankster manipulation. Arguably, volatility is to be expected in an unregulated free-market where everyone in the world is for the first time welcomed to participate.
In comparison to the legacy financial system, crypto is fully alive while the former is handicapped by regulations, coercion, and disconnected from true free-market signals. That is, volatility signals of a free-market that breathes freely for the first time. Volatility is indicative of a market that is fully alive.
The desire for individuals to attach crypto to the legacy financial system, under the pretense of “less volatility,” is indicative of individuals that will have a hard time operating outside the bounds of regulation and government coercion. As long as we have statists uncomfortable with Anarchy, we will have stablecoins pegged to fiat.
Various Libertarian entrepreneurs are also beginning to dabble with the idea of a stablecoin that is pegged to precious metals. The challenge of these projects will be the same regulation that oversees fiat. Remember that the difference offered to the world by cryptocurrencies resides in crypto’s ability to operate freely within System D, without regulation. It is this new market, the true free-market, that for the first time is unstoppable.
Bitfinex’s Effect on EOS
Bitfinex is one of the entities that holds the greatest amount of votes for EOS Block Producers (BPs). For this and other reasons, we are currently expecting a shakeup of votes for selected top BPs. It is important that you remain attentive to the happenings within EOS and move your votes accordingly.
We will soon be coming out with more details on our perceptions regarding various BPs.
There are various discussions regarding BPs pending arbitration. This is a good thing. All shakeups lead us closer to more transparency and accountability. This should not directly affect the price of EOS, aside from what will result from the expected FUD of future BP shake-ups.
The Resilience of CryptoAnarchy after Blockstream’s Fake Sidechain
Amongst the various innovations within Bitcoin, sidechains have- for the past 5 years- existed as one of the holy grails of innovation. Blockstream, as a company, was put together to manifest sidechains. They sold us the concept of a sidechain as they were sourcing capital during their first rounds of investment; this was in October of 2014.
Sidechains were supposed to be delivered by Blockstream as a way to make Bitcoin innovation competitive to that of altcoin innovation. Sidechains were supposed to be “the Altcoin killer.”
After all of this time, Blockstream only delivered Liquid - which is not a sidechain- and called it a “sidechain.” That is, Liquid is not a sidechain when properly defined. Liquid is a multi-signature layer that allows for multiple exchanges to pool their money together to transfer funds amongst themselves. Liquid is not a true sidechain, it is more precisely a multi-signature wallet.
Calling Liquid a “sidechain” was just a marketing scheme by Blockstream in order to impress the illusion that they had delivered what they had promised. They didn’t. Blockstream gave up in attempting to create a true sidechain and created a multi-signature wallet instead. Keep in mind that Liquid is a “private sidechain.” Note that a proper sidechain ought to be made with open-source innovation in mind. Many of us see the actions of Blockstream as a bait and switch marketing scheme.
(For the rest of this article I will use the words “Drivechains” and “sidechains” interchangeably as synonyms. Drivechains are what sidechains originally were supposed to be- according to the original Blockstream Sidechain white paper. Blockstream’s bait and switch marketing scheme led to them calling “sidechain” a multisignature wallet that is not at all what they promoted on their white paper. Paul Sztorc, in an attempt to differentiate himself from the Blockstream perversion of the word “sidechains,” called his development of true sidechains “Drivechains.”)
Drivechain Sidechains
Paul Sztorc, the creator of decentralized prediction markets, was very much looking forward to Blockstream’s creation of sidechains. It was his hope that his decentralized prediction market would run as a Bitcoin sidechain. At about the end of 2015 Sztorc was done with BitcoinHiveMind, his decentralized predictions market (previously known as TruthCoin).
After realizing that Blockstream was not going to deliver on sidechains, as promised, Sztorc felt he needed to build it himself. The creation of his Drivechains started off as a means to an end for Sztorc; he needed true Sidechains for his decentralized predictions market- so he build it himself.
On September 24, 2018 Paul Sztorc announced the launch of the first Drivechain release. This release was accompanied with fervent followingof old-school Bitcoiners that immediately jumped into experimenting with Drivechains on the testnet known as “Testdrive.”
The Drivechain protocol is an alternative to the sidechain project originally proposed by Blockstream. It is a simpler design that enables blockchain compatibility in which the system still utilizes the same 21 million bitcoin ruleset- the Nakamoto consensus.
Drivechains are intended to allow for permissionless innovation without diluting or challenging the value of the main cryptocurrency. Contrary to other means of innovation within crypto, any innovation that comes from a Drivechain sidechain actually adds value to the Bitcoin protocol- for it does not dilute the main cryptocurrency. Satoshi vaguely discussed the importance of the ideas of sidechains and multi-blockchain connectivity on June 17, 2010.
This creation, of providing varied market options, make infighting and political discourses regarding consensus upgrades now seem infantile. Drivechains will provide the market with ongoing competitive solutions for blockchain development. Investors will now be exposed to options that would otherwise have been shunned in a less free environment.
The strategic advantage of Drivechain sidechains is that they will offer investors various options in the form of alternative chains. It is important to keep in mind that Drivechains are available for blockchains with the same UTXO set. That is, Drivechains are available for both BitcoinCore (BTC) and BitcoinCash (BCH).
How Drivechains work
Namecoin was the vision of early Bitcoin adopters of creating a DNS and identity infrastructure based on Bitcoin; that is, .bit DNS. This technology piggy backed on top of Bitcoin mining. That is, if you so chose you could merged-mined Namecoin alongside BTC or BCH. Namecoin can absorb hashrate from BTC or BCH without needing its own miners.
Merge-mining with BTC or BCH is also the process of validating and safeguarding Drivechain sidechains. Unlike Namecoin, Drivechain sidechains don’t require miners to run special software. For Drivechain sidechains miners implement what is known as blind-merge-mining. In blind-merge-mining the nodes of the sidechain run the software, not the miners. This operates under the assumption that the nodes running the software also hold BTC or BCH.
A payment fee is paid to miners to blind-merge-mine the sidechain, in a similar way that Namecoin merge-mining pays a fee. In this process, miners don’t have to run any software- they just passively make money for blind-merge-mining blocks with sidechains.
The main difference with sidechains is that you are not mining another coin like Namecoin, but rather you are mining the same BTC or BCH in another sidechain when you do the blind-merge-mining. Miners don’t get paid with the sidechain, they receive payment from the mainchain that they already trust when they blind-merge-mine. Miners are also economically benefited by always getting paid in the superior coin that they are already intentionally mining; BTC or BCH.
As BTC or BCH moves in and out from the mainchain to a sidechain, there might be claims of ownership that may cause disputes. Drivechain prevents this by emphasizing the superiority of the mainchain over sidechains. Sidechains have to report on exactly what it is doing- at all times- to the main chain. Whenever a sidechain wants to transfer money back to the mainchain it has to do it very slowly. This safeguards the network from theft. The slow movement of funds from the sidechain to the mainchain can be arbitrage by individuals who will be willing to purchase sidechain receipts for BTC or BCH coming from sidechains at a discount. People will also be able to do atomic swaps between chains in the near future. (Atomic swaps, or atomic cross chain trading, is the exchange of one cryptocurrency to another cryptocurrency, without the need of trusting a third-party).
It is the intent of Drivechains to create the interaction of miners with sidechains as seamless as possible. However, it is still important to have guarantee that money ends up in the right place. This is the reason for the slow movement of funds from sidechains to the mainchain.
The movement of a certain amount of transactions coming from a sidechain to the mainchain is batched up into one transaction with its own transaction ID. This transaction is frozen in place where miners and developers can examine it for at least a month (there are talks of even making this process longer between 3 to 6 months). During this time miners vote on whether to allow the payment to go through or not. Upon receiving enough upvotes, the batched up transactions are released unto the mainchain. The slowing down of movement of BTC or BCH from sidechains to mainchain decreases the threat of miners stealing BTC or BCH from a sidechain.
The sidechains are always watching the mainchain, so they know to credit people immediately when the mainchain sends money to it. Sidechains also know when the miners have accepted the release of batched up locked funds that are released unto the mainchain. Once the sidechain receives notification of the miners acceptance of funds in the mainchain, the sidechain destroys the funds that were frozen awaiting miner upvotes.
It is overall acknowledged that sidechains increase the value of BTC and BCH, which eventually make mining more profitable. It would be counterproductive for miners to attack and steal funds from sidechains. That is, miners acting maliciously decreases the value of their own equipment. In spite of this fact, it is good that Drivechains make it increasingly more difficult for theft to occur.
Miners, through their voting process, also get to punish bad sidechain actors. Any malicious sidechain will be cleaned out by miners. This is the opposite of the Ethereum model where anyone can code anything into the Ethereum blockchain, to the point that it could become a detriment to the Ethereum mainchain itself. That is, anyone can create a new ERC20 or ERC721 token without any vetting from the network.
Coins are moved from the mainchain to the sidechain by means of sending coins to an address that represents the sending of funds from the mainchain to the sidechain. Anyone running the given sidechain software will recognize that funds were sent to the sidechain- this will automatically credit the person with the same amount of BTC or BCH on the sidechain. Also, the sidechain is programmed to recognize the reception of funds unto the mainchain address from where it will automatically credit the user the same amount of BTC or BCH unto a sidechain wallet. People on the mainchain don’t have to know anything about this particular address. As far as they know, it is just another address.
Embrace the Spontaneous Order of Market Anarchy It is important that people within BTC and BCH take on a more Hayekian approach to entrepreneurship. Many within crypto are uncomfortable with the mere notion of spontaneous order. It is important that we as Ancaps lead the way in motivating people to experiment with their entrepreneurship.
In the past few years, the desire of individuals to covet the development of crypto has become more apparent. These people need to be ignored. No one is the leader of Bitcoin or crypto development. The best innovators within crypto are those that create tools that empower other entrepreneurs to create more options.
It is this spontaneous order that we should welcome and promote at all times. Many within BTC and BCH will not accept or feel comfortable with the radical spontaneous order enabled by Drivechains. This is good reasonto brush up on your Austrian Economics in order to properly confront minds that are fearful of human freedom.
The Ancap entrepreneurs who are most comfortable with spontaneous order will be the same ones who will produce the greatest amount of value. The development of CryptoAnarchy is guided by the science of praxeology and Austrian Economics. Drivechains are testament to the augmentation of our libertarian order are necessary for CryptoAnarchy to thrive.
Drivechains and Investment Strategy
The philosophical and economic advantage of sidechain innovation is that it enables the development of BTC and BCH with an investor-centric intention. It is the market’s investment that now decides the best means for scaling and development. Politics and propaganda take an almost insignificant backseat to that of market forces. The technology is now readily available for investors to test drive with their BTC or BCH on any given proposed sidechain. That is, you actually get to experience the value, or lack of value of a new innovation without jeopardizing your position as an investor.
All investment decisions are about strategy. Sidechains empower the investor’s strategy by allowing the investor to survey all of the possible value propositions of his/her original investment without having to incur any actual costs. In a similar way, sidechains also provide developers with quick market feedback on the aspects of development that are most favored by the market.
Drivechains are a pivotal step in maturing the crypto space into becoming more conscientious in considering the investment strategy of those buying the coins. It is important for innovators to start taking the investor’s strategy into account. Drivechains force developers to consider what is best for the investor, not just what is desired by a given team of developers.
Here we have not only a better proposition for investors, but also an incentive for developers to use Drivechains in future crypto experimentation. When experimenting with an altcoin, the measure of success is contingent on this new altcoin gathering a new pool of investors to literally buy into the project. With a sidechain you are already dealing with a more seasoned group of investors that will provide you with more accurate market feedback, being that their investment is now fortified by all other sidechain experimentations that they have already tested at no cost.
Altcoins will soon no longer be the locus of innovation within crypto. All future innovation will be offered the option to experiment within BTC or BCH via sidechains. Keep in mind that all previous innovations, already tested in the market by successful altcoins, are now easily adopted by BTC or BCH. It is also important to note that creative experimentation on sidechains do not at all jeopardize the mainnets of BTC or BCH. On the contrary, sidechains will make BTC and BCH much more valuable. When the Drivechain craze begins we will see a BTC and BCH bull run. Don’t be surprised if sidechains are the main reason for the next all time highs.
Statists Failing & Anarchists Thriving
It is important that we understand that the legacy banking system is completely dead. They are barely adopting simulations of cryptocurrencies unto their banking structures to stay alive. Stablecoins are a manifestation of this bankster angst to remain current.
True market innovation is found in the embrace of Market Anarchy. CryptoAnarchy is growing exponentially with tools that are beyond the reach of state megalomaniacs. Drivechains are an example of the CryptoAnarchist tools that will result in further anti-fragility of this new crypto free-market.
Proper Austrian Economic incentive structures coupled with applied cryptography is our lethal weapon against nation states and central banks. Arguably, our Ancap philosophy is what guides applied cryptography in the market towards success. For this reason it is important that we keep revisiting the texts of Rothbard, Mises, Hayek, and Konkin throughout our crypto endeavors. Peace!
by Rafael LaVerde
Source
TL;DR: How familiar are you with thermodynamics and silent weapons for secret wars? How familiar are you with the Brave New World Order?
submitted by 2012ronpaul2012 to conspiracy [link] [comments]

Monero. Overview

Monero. Overview

https://preview.redd.it/bcgzjh51cpi11.png?width=720&format=png&auto=webp&s=0a5995c852e67caccecdb138b1b475e84d8fab8d
Cryptoindex is a tool for exposure to the cryptomarket and serves as a smart benchmark for all cryptocurrencies. The AI-based Cryptoindex algorithm is continuously analyzing more than 1000 coins applying over 170 factors, processing more than 1 million signals per second to provide a highly sophisticated index of the top 100 coins.
You can find our previous reviews here:
Dash. Review - August 2018. Binance Coin. Review IOTA. Review. August - 2018 NEM.Overview Ethereum Classic.Review TRON overview. Cardano - review. Future plans. Ripple - review. Further Perspectives Litecoin. June'18 overview The Dow Jones index. From where did it come to us? Bitcoin Cash. June 2018 overview Are cryptocurrency indices a new crypto market trend? EOS. End of May'18 overview Ethereum. May 2018 overview
Here on our Cryptoindex blog, we will be posting 100 articles about each of the top performing coins selected by our powerful AI algorithm#CIX100coinreview.
Today’s review: Monero
What is Monero?
This name cryptocurrency has received from the word "coin" in the language of Esperanto. Cryptocurrency appeared on April 18, 2014, as Bytecoin fork (not Bitcoin). The release of the coin caused increased interest from the crypto community after announcing by the developers the Roadmap and the Whitepaper. The essence of the project was to make the cryptocurrency anonymous.
But on the other hand, the creation of such cryptocurrency attracted the attention of law enforcement agencies, including Europol. As an argument that was brought to the attention of developers, it was that Monero could become a good means of payment on the black market for drugs trade.
The FBI also speaks with the same statement, pointing out that Monero is in the TOP of the crypto-currency on the black market:
  1. Bitcoin
  2. Litecoin
  3. Monero.
The level of Monero anonymity is sometimes questioned, in particular, Edward Snowden called it "amateur cryptocurrency."
At the time of writing, Monero is ranked 11th by the capitalization in Coinmarketcap.com
How does it work?
Monero is mostly an open source software that uses the principle of proof-of-work. But unlike Bitcoin, Monero emission is not limited. That's why the developers did it so that the miners would ensure the system's operation even after the emission was completed.

https://i.redd.it/nzcpy6u3cpi11.gif
The developers of Monero have made a lot of efforts to make their cryptocurrency secure. To achieve a high result, special measures were taken:
  • Use of "Annular signatures". This technology allows you to "shuffle" all the public keys, thus eliminating the possibility of identifying any of the participants in the system.
  • Monero uses a unique protocol that creates one-time addresses. This allows you to hide information about the payee, the balance of his account and so on.
  • Protection against hacking. Cryptographic algorithms ensure the security of electronic cash stored in user wallets.
Due to CryptoNote and the obfuscation added to the protocol, passive mixing is provided: all transactions in the system are anonymous, and all participants in the system can use plausible negation in the event if they are being captured.
Dirty Monero?
Among the miners, it’s in high demand, due to anonymity for mining on other people's computers and servers. Recently, there have been more cases when Monero was noticed in the code of many viruses. The power of many computers around the world is used to extract this particular cryptocurrency, in particular, this happened last year in London, where scammers used the hacked government servers for mining.
Also Monero, right along with Bitcoin, Zcash and Dash is the most used cryptocurrency in Darknet. A particularly favored method of money laundering is the so-called "mixer". The principle of its work is that the money received illegally is sent to the exchange where Bitcoin coins are purchased, for which the Monero tokens are then purchased and then the attacker can safely transfer to any stock exchange, to a pre-established account and receive money in any form convenient for him.
Advantages of Monero
  • Absolute decentralization. Without any control, including financial organizations (banks and etc);
  • The anonymity of transactions;
  • Constant growth and trust;
  • The presence of his own personal wallet.
Disadvantages of Monero
  • The size of one transaction in Monero is more significant than in Bitcoin;
  • The anonymity of transactions began to challenge experts working on the development of other cryptocurrencies.
Conclusion
Now the developers are actively working to promote the currency. Given the high anonymity and growth in demand, success is entirely assured. The anonymity of Monero transactions is not absolute. If the attacker controls a large part of the network, then under certain circumstances, he can deanonymize some of the transactions.
At the time this article was published, Monero [XMR] is 0.812% of the total of CryptoIndex portfolio. You can always check the current CIX100 composition at our MVP platform: http://cryptoindex.ai/
Stay updated on our channels: Follow CRYPTOINDEX on Telegram Follow CRYPTOINDEX on Medium Follow CRYPTOINDEX on Twitter Follow CRYPTOINDEX on Facebook Follow CRYPTOINDEX on Linkedin Follow CRYPTOINDEX on Reddit
https://preview.redd.it/zz0qunsbcpi11.png?width=757&format=png&auto=webp&s=63687e4c6d097b241a2c647fe03945b3d07d2047
submitted by kkkc to CryptoIndex_io [link] [comments]

Subreddit Stats: ethtrader top posts from 2016-12-11 to 2018-03-28 14:09 PDT

Period: 472.46 days
Submissions Comments
Total 995 184897
Rate (per day) 2.11 391.02
Unique Redditors 592 22569
Combined Score 787834 1865594

Top Submitters' Top Submissions

  1. 44976 points, 68 submissions: AutoModerator
    1. [ETH Daily Discussion] - 14/Jun/2017 (2926 points, 8485 comments)
    2. [ETH Daily Discussion] - 15/Jun/2017 (1960 points, 8597 comments)
    3. [ETH Daily Discussion] - 13/Jun/2017 (1764 points, 5212 comments)
    4. [ETH Daily Discussion] - 12/Jun/2017 (1358 points, 12903 comments)
    5. [ETH Daily Discussion] - 24/May/2017 (1345 points, 9454 comments)
    6. [ETH Daily Discussion] - 23/May/2017 (1241 points, 6398 comments)
    7. [ETH Daily Discussion] - 30/May/2017 (1141 points, 9056 comments)
    8. [ETH Daily Discussion] - 25/May/2017 (1019 points, 8164 comments)
    9. [ETH Daily Discussion] - 10/Jun/2017 (1001 points, 7984 comments)
    10. Daily Discussion [Serious] - 17/Jun/2017 (910 points, 2930 comments)
  2. 16379 points, 1 submission: Pracy_
    1. Everytime Bitcoin drops (16379 points, 358 comments)
  3. 11940 points, 4 submissions: Justjoshmygosh
    1. Welcome to ethtrader new people, let me save you some time (7350 points, 369 comments)
    2. This is NOT the end (2076 points, 197 comments)
    3. Welcome BACK to ethtrader (1969 points, 112 comments)
    4. Hello again, ethtrader... looks like I have some work to do (545 points, 10 comments)
  4. 11915 points, 2 submissions: _Mido
    1. Here you go (9778 points, 318 comments)
    2. How I felt this week (2137 points, 232 comments)
  5. 8919 points, 5 submissions: leafac1
    1. Would You Like to See Reddit Accept ETH as a Means to Pay for Gold? (3187 points, 196 comments)
    2. Most Popular Story on CNBC Tech: 'Bitcoin’s main rival Ethereum hits a fresh record high' (2476 points, 181 comments)
    3. Tweeted today: Casper (Proof of Stake) testnet is coming. (2106 points, 232 comments)
    4. Ethereum just processed 0.46% of Visa's total tx per day. And it did so without Ethereum Dapps using scaling solutions. (625 points, 78 comments)
    5. Perspective: It seems many are currently unaware that ETH will have a lower inflation rate than BTC (and BTC-Forks) come Proof of Stake & beyond. (525 points, 136 comments)
  6. 8899 points, 6 submissions: sopun
    1. Stocks VS Crypto (2259 points, 53 comments)
    2. Bitconnect, Davorcoin and other scams continue being advertised on Coinmarketcap. We should take a stand as a community and push out these people who made a career out of scamming innocents (2228 points, 149 comments)
    3. A shitcoin ICO called Prodeum just exitscammed millions of dollars from investors and left them only this message on their ICO website (1543 points, 200 comments)
    4. Trevon James erased 39 of his YouTube videos promoting BitConnect yesterday. Looks like he starts getting worried about the class action lawsuit against him (1364 points, 223 comments)
    5. Tron's TRX whitepaper raises more red flags than a workers parade in Soviet Union (1124 points, 235 comments)
    6. Charlie Lee retweet: "Wow! How absurd! Tron whitepaper is mostly stolen copy & paste!" (381 points, 109 comments)
  7. 8699 points, 7 submissions: econoar
    1. Ethereum is now processing more transactions a day than all other cryptos combined. (4027 points, 476 comments)
    2. Today, Ethereum has processed 50% more txs than BTC. Ethereum currently has 17 pending TX and BTC has 45k. It takes $0.006 to move Ether in less than 20 seconds. (1411 points, 282 comments)
    3. Visa, IBM, Microsoft and USAA have all posted jobs in the past week looking for Ethereum developers (865 points, 47 comments)
    4. Goldman-Backed Startup Circle Launches No-Fee Foreign Payments Service. Built on Ethereum. (852 points, 86 comments)
    5. Etheremon is completely centralized and the owners can withdrawal all the funds from the contract. (665 points, 387 comments)
    6. On average, it's 59x cheaper to send an Ethereum transaction than a Bitcoin transaction. (484 points, 31 comments)
    7. Ethereum dapps expected to launch very soon. (395 points, 131 comments)
  8. 7472 points, 12 submissions: DCinvestor
    1. Personal Finance Rules for Being an Effective Holder (1303 points, 238 comments)
    2. Will Proof of Stake turn ETH into the best Store of Value coin? (1074 points, 142 comments)
    3. What can the earlier days of Bitcoin teach us about holding Ethereum? (626 points, 152 comments)
    4. How to Survive Crypto Investing (in this market, or in any market) (614 points, 121 comments)
    5. The Most Important Crypto Theses for 2018 (and my current feelings on this market) (604 points, 323 comments)
    6. A Re-evaluation of Ethereum as Long Term Investment (versus new market entrants) (593 points, 136 comments)
    7. It's time for investors to pursue quality, and to stop chasing shit (505 points, 89 comments)
    8. Coinbase is trending #1 on the Apple App Store (504 points, 39 comments)
    9. Switching from BTC to ETH (445 points, 219 comments)
    10. Is Ethereum Dead? Ask the Developers, not the Traders (424 points, 120 comments)
  9. 7445 points, 6 submissions: ScienceGuy9489
    1. New price target $1,000 (2996 points, 504 comments)
    2. I heard you guys miss me, looks like we're only going up from here (2102 points, 652 comments)
    3. Technical Analysis, Liftoff Due June 16th (755 points, 1034 comments)
    4. I predicted the last two liftoffs, the next one is by May 24th. (727 points, 534 comments)
    5. I predicted the last 3 liftoffs, this is a situation update (504 points, 460 comments)
    6. I predicted the last 3 lifts offs, the next one is by May 29th (361 points, 470 comments)
  10. 7410 points, 11 submissions: BeerBellyFatAss
    1. Bitfinex now trades all pairs against ETH. It’s time for Binance and the rest of the exchanges to do so as well. (2257 points, 220 comments)
    2. Number of Users on Coinbase Surpasses Number of Brokerage Accounts at Charles Schwab (822 points, 63 comments)
    3. Omise signed an agreement on the development of a national ID utilizing the ETDA and block chains of Thailand government agencies! We will continue to work on a number of projects that utilize block chains! (789 points, 113 comments)
    4. Catalonia Considering Cryptocurrency Post-Independence, Advised By Ethereum Creator (507 points, 74 comments)
    5. Germany’s Largest Bitcoin Trading Platform Will Soon Add Etheruem (499 points, 46 comments)
    6. Olaf Carlson - On Bloomberg Technology (12/01) - Ethereum to Surpass Bitcoin Market Cap by YE 2018 - Great Interview! (483 points, 150 comments)
    7. Casper is Pretty Close, Sharding Number One Priority Says Vitalik Buterin (467 points, 79 comments)
    8. "Ethereum, which I think just touched $500 or is getting close, could be triple where it is as well" - Michael Novogratz (446 points, 106 comments)
    9. Ethereum was a safe haven from yesterday's cryptocurrency sell-off — and not for the first time (416 points, 45 comments)
    10. GOLDMAN: 'It's getting harder for institutional investors to ignore cryptocurrencies' (372 points, 35 comments)
  11. 7378 points, 5 submissions: EthTrader_Mod
    1. [ETH Daily Discussion] - 22/May/2017 (4029 points, 10547 comments)
    2. Daily Discussion [Serious] - 16/Jun/2017 (1359 points, 4550 comments)
    3. [ETH Daily Discussion] - 28/May/2017 (684 points, 3361 comments)
    4. [ETH Daily Discussion] - 04/Jun/2017 (654 points, 3894 comments)
    5. [ETH Daily Discussion] - 29/May/2017 (652 points, 4675 comments)
  12. 7075 points, 13 submissions: Mr_Yukon_C
    1. This is what leadership looks like -- I present to you, CFTC Chairman Giancarlo (831 points, 45 comments)
    2. Millennials are afraid stocks are too risky, so they're investing in crypto (787 points, 240 comments)
    3. OmiseGo Becomes the First Ethereum Unicorn With a Market Cap of $1 Billion (760 points, 157 comments)
    4. AMERICANS: Kill bill 1241 • ethereum (697 points, 66 comments)
    5. Microsoft – Decentralized Digital Identities and Blockchain – The Future as We See It. [Building on Ethereum] (643 points, 87 comments)
    6. Scaling Ethereum to hundreds to thousands of transactions per second - TODAY! (513 points, 47 comments)
    7. Brian Armstrong (Coinbase CEO): "Bitcoin still has a black mark against it if you look at what big banks or more traditional folks in law enforcement think. Ethereum has a blank slate, and that is a chance to reach a mainstream audience." (471 points, 121 comments)
    8. Joseph Lubin: 5.6bil requests a day for @infura_io, >280k downloads for @trufflesuite, and a jaw-dropping 1 million installs for @metamask_io (455 points, 83 comments)
    9. Alpha Casper FFG Testnet Instructions - HUGE! (420 points, 54 comments)
    10. The 0x team donated ~$12,000 to Etherscan and ~$22,000 to MyEtherWallet (399 points, 28 comments)
  13. 6809 points, 8 submissions: thepipebomb
    1. CNBC: Why buy Ethereum? (1519 points, 146 comments)
    2. CNBC - "I love Ethereum, I think Ethereum is the one to own here." (1240 points, 158 comments)
    3. CNBC: This is an incredible buying opportunity for Ethereum (989 points, 181 comments)
    4. Please boycott Vinny Lingham's Civic ICO (896 points, 200 comments)
    5. Pantera Capital Quantitative Researcher: By 2020 Ethereum's market cap will be 10x higher than Bitcoin's (745 points, 155 comments)
    6. When is $10,000 per ETH realistic? (504 points, 491 comments)
    7. Brian Kelly of CNBC on investing in Ethereum (496 points, 131 comments)
    8. Kevin O'Leary: NYC hotel wants to use a $400 million cryptocoin offering to sell ownership like a stock (420 points, 135 comments)
  14. 6621 points, 11 submissions: jtnichol
    1. Joseph Lubin on Twitter: "#Bitcoin = A single app. #Ethereum = An entire app store. Thanks for having me on @BloombergTV, always a pleasure. https://t.co/LXKX8cF8BR" (1209 points, 89 comments)
    2. Microsoft helps launch world’s first blockchain-based investment product: settled on the public Ethereum chain. (923 points, 84 comments)
    3. This room feels like Q4 2016 all over again (768 points, 264 comments)
    4. Massive heap of rhetoric. But it needs to be said. (544 points, 239 comments)
    5. Friday Donut Day. (535 points, 53 comments)
    6. We're rocketing up in subscribers. Wow! (+1,160 subscribers today; 164% trend score) • TrendingReddits (519 points, 58 comments)
    7. Vitalik Buterin on Twitter: Plasma implementations are already happening (490 points, 77 comments)
    8. Unlisted Video Message just for Ethtrader - Thanks for helping someone on Reddit yesterday struggling with life. (475 points, 80 comments)
    9. For all the drama lately I've made you some comfort food. I love you Ethtrader. Whale sized BLT's with a quart of Bloody Mary. (390 points, 87 comments)
    10. Vitalik Buterin on Twitter: "Scalability research and development subsidy programs: https://t.co/PwbkdUHbZS" (387 points, 40 comments)
  15. 6224 points, 7 submissions: Butta_TRiBot
    1. Vitalik Buterin: If all that we accomplish is lambo memes and immature puns about "sharting", then I WILL leave. (2170 points, 434 comments)
    2. Vitalik Buterin: In my opinion, the current sharding spec as described is already good enough to get us to thousands of transactions per second (1549 points, 191 comments)
    3. Inflation rate will go down by ~90% with Casper and Sharding (3 ETH block reward -> 0.22ETH) (694 points, 217 comments)
    4. "Casper Testnet up right now and Sharding will come sooner than you think" - Karl Floersch [41:02] (507 points, 45 comments)
    5. Vitalik on Wechat: We have started developing a test version of Ethereum with sharding using python (447 points, 79 comments)
    6. The reason I invested in Ethereum - motivated developers who even spend their free time explaining the tech (433 points, 79 comments)
    7. Congrats to @naterush1997 and @dannyryan for releasing v0.2 of the cbc Casper prototypes, last night! (424 points, 43 comments)
  16. 6206 points, 1 submission: PaulieVideos
    1. Dips are just happy little accidents (6206 points, 214 comments)
  17. 6106 points, 2 submissions: moneyfink
    1. It's one of the biggest moments of your life... what to wear? (5607 points, 487 comments)
    2. Reminder: HODL and don't be like this guy (499 points, 84 comments)
  18. 5355 points, 4 submissions: shouldbdan
    1. Every day I check the price when I wake up (3047 points, 105 comments)
    2. Me reading the daily during downtrends (810 points, 78 comments)
    3. A thank you, to everyone working countless hours to solve the scaling problem (758 points, 112 comments)
    4. HODLing Bitcoin vs HODLing Ether (740 points, 70 comments)
  19. 5075 points, 4 submissions: antiprosynthesis
    1. ETH price has just entered the bottom of a new channel. Next level of resistance well over $2,000. (2055 points, 493 comments)
    2. The Ethereum blockchain now processes about as much USD value as all other blockchains combined, including Bitcoin. (1296 points, 135 comments)
    3. ETH price in one year: between $700 and $14,000, averaging around $3,500. (1056 points, 543 comments)
    4. Legally Binding Smart Contracts? 9 Law Firms Join Enterprise Ethereum Alliance (668 points, 122 comments)
  20. 4617 points, 1 submission: shadow_op
    1. I'm a longterm hodler, but even i hate this sub sometimes. (4617 points, 292 comments)
  21. 4602 points, 6 submissions: brantlymillegan
    1. Seinfeld gives trading advice in a bear market (1142 points, 94 comments)
    2. Let's be honest, this is most of us here on /ethtrader... (1106 points, 63 comments)
    3. The Flippening is back on: 51.9% ETH/BTC mk ratio and climbing! (1024 points, 141 comments)
    4. The most popular trade on ShapeShift right now is BCH to ETH (519 points, 52 comments)
    5. Jerry & George give /ethtrader advice to traditional traders (434 points, 58 comments)
    6. The most popular trade on ShapeShift right now is BTC -> ETH (377 points, 43 comments)
  22. 4558 points, 5 submissions: CallMeGWei
    1. Ethereum's µRaiden - Bitcoin is Falling Behind (1206 points, 191 comments)
    2. Crypto: The Wrong Bubble? (1162 points, 484 comments)
    3. ICOs: Avoid The Lemons (849 points, 69 comments)
    4. Vitalik Buterin: To be clear, the operative word here is "all". No, I won't stop or slow working on crypto just because price memes and stupid jokes exist... (751 points, 88 comments)
    5. CryptoKitties slows Ethereum down... temporarily... (590 points, 75 comments)
  23. 4395 points, 5 submissions: jonesyjonesy
    1. Upvote if you think ethtrader should create a community rating service for ICOs (1931 points, 173 comments)
    2. Only a matter of time before people wake up and realize the gravity of Circle acquisition. Leaked photo reveals Poloniex is now 1) ATS certified and 2) the first ever US regulated crypto exchange. Amazing milestone for crypto's quest towards regulatory acceptance (819 points, 164 comments)
    3. Hey guess what? Gox caused the 2018 crash. Here's how. (693 points, 240 comments)
    4. EthTrader's reaction when they see ScienceGuy is back posting liftoff predictions (529 points, 48 comments)
    5. To anyone who is doubting EOS is offloading their ETH for fiat (423 points, 297 comments)
  24. 4321 points, 3 submissions: c0mm0ns3ns3
    1. UPVOTE if you're sick of KRAKEN's performance! (3011 points, 369 comments)
    2. How about we get Vitalik NOT on Joe Rogan etc. and leave him alone (762 points, 74 comments)
    3. Dear Exchanges, it's time to unpair everything from Bitcoin! (548 points, 138 comments)
  25. 4102 points, 1 submission: DAXEEY
    1. Literally.. (4102 points, 164 comments)
  26. 4027 points, 1 submission: saintmax
    1. Ethereum is UP since last month! Can we get this post to all to show everyone the tides are turning quickly (4027 points, 194 comments)
  27. 3903 points, 3 submissions: PhiStr90
    1. Enterprise Ethereum Alliance Becomes World’s Largest Open-source Blockchain Initiative (2690 points, 312 comments)
    2. Hewlett Packard Enterprise and 47 Organizations Join 200-Member Strong Enterprise Ethereum Alliance (846 points, 113 comments)
    3. Ethereum is now for the first time the blockchain with highest mining incentive or simply put 'the most secured' (367 points, 52 comments)
  28. 3811 points, 3 submissions: onenessup
    1. "If you are new to #blockchain (s) and you wonder which of the top 100 from coinmarketcap will win - you should realize that 43 of those 'coins' are ON the Ethereum blockchain." (2557 points, 167 comments)
    2. Casper (Proof of Stake) Code was Published Today by Vlad Zamfir (899 points, 249 comments)
    3. Germany's Largest Crypto Exchange To Begin ETH/EUR Trading (355 points, 36 comments)
  29. 3772 points, 3 submissions: Jimmyl101
    1. TWICE IN THE SAME DAY??? (2179 points, 151 comments)
    2. HE'S BACK (1102 points, 71 comments)
    3. Please consider posting more memes. (491 points, 68 comments)
  30. 3743 points, 3 submissions: Hiphopsince1988
    1. Ethereum & the Hodlors that love them (2420 points, 282 comments)
    2. Metcalfs Law has 97% Correlation to ETHUSD Since 2015. Puts ETH value at $8,000 (960 points, 213 comments)
    3. Tweet: Bank of America Demo using its Ethereum app at Microsoft (363 points, 48 comments)
  31. 3677 points, 6 submissions: barthib
    1. Updated fact list: why Ethereum will be the most successful blockchain network (1028 points, 229 comments)
    2. The Ethereum Foundation just released an impressive list of 2017 achievements and work to flourish in 2018 (802 points, 30 comments)
    3. Overstock lets customers pay with more than 40 cryptocurrencies, including ETH (672 points, 111 comments)
    4. At the end of the year, the first official European investment fund in cryptocurrencies launches (ETH, BTC, LTC, ...) (423 points, 49 comments)
    5. Today is important in the History of cryptocurrencies. Miners earn now more money by securing Ethereum than Bitcoin. (378 points, 42 comments)
    6. Chairman of Fair Trade Commission of South Korea: Whether cryptocurrency investment is excessive speculation or not, the risk is on the investor, and thus the government should not outright ban economic activity because it is risky. That's for the individual investors to decide. (374 points, 20 comments)
  32. 3600 points, 1 submission: GHOSThit
    1. It happened! $1234.56! (3600 points, 147 comments)

Top Commenters

  1. csasker (9957 points, 970 comments)
  2. OperationNine (9563 points, 506 comments)
  3. cyoreligion (9218 points, 516 comments)
  4. thepipebomb (9182 points, 494 comments)
  5. jtnichol (8874 points, 741 comments)
  6. econoar (8732 points, 669 comments)
  7. Nooku (8475 points, 442 comments)
  8. DCinvestor (8394 points, 425 comments)
  9. cutsnek (7614 points, 521 comments)
  10. antiprosynthesis (7103 points, 843 comments)
  11. Mr_Yukon_C (5748 points, 473 comments)
  12. dillllllzzzzz (5707 points, 426 comments)
  13. oldskool47 (5688 points, 414 comments)
  14. IRefuseToGiveAName (5461 points, 427 comments)
  15. loveYouEth (5369 points, 288 comments)
  16. subdep (5231 points, 326 comments)
  17. laughncow (5071 points, 372 comments)
  18. ruvalm (4955 points, 290 comments)
  19. ethacct (4937 points, 340 comments)
  20. skYY7 (4929 points, 297 comments)
  21. Libertymark (4810 points, 954 comments)
  22. shouldbdan (4809 points, 291 comments)
  23. blog_ofsite (4609 points, 408 comments)
  24. OM3N1R (4549 points, 314 comments)
  25. Enigma735 (4504 points, 478 comments)
  26. pinastri (4457 points, 305 comments)
  27. myownman (4334 points, 402 comments)
  28. WeLiveInaBubble (4201 points, 342 comments)
  29. aItalianStallion (4162 points, 307 comments)
  30. jezzaccc (4116 points, 310 comments)
  31. ninethirtyone (4075 points, 346 comments)
  32. leafac1 (3826 points, 206 comments)

Top Submissions

  1. Everytime Bitcoin drops by Pracy_ (16379 points, 358 comments)
  2. Here you go by _Mido (9778 points, 318 comments)
  3. Welcome to ethtrader new people, let me save you some time by Justjoshmygosh (7350 points, 369 comments)
  4. Dips are just happy little accidents by PaulieVideos (6206 points, 214 comments)
  5. It's one of the biggest moments of your life... what to wear? by moneyfink (5607 points, 487 comments)
  6. I'm a longterm hodler, but even i hate this sub sometimes. by shadow_op (4617 points, 292 comments)
  7. Literally.. by DAXEEY (4102 points, 164 comments)
  8. [ETH Daily Discussion] - 22/May/2017 by EthTrader_Mod (4029 points, 10547 comments)
  9. Ethereum is now processing more transactions a day than all other cryptos combined. by econoar (4027 points, 476 comments)
  10. Ethereum is UP since last month! Can we get this post to all to show everyone the tides are turning quickly by saintmax (4027 points, 194 comments)

Top Comments

  1. 1709 points: Blactory's comment in Everytime Bitcoin drops
  2. 1351 points: deleted's comment in It's one of the biggest moments of your life... what to wear?
  3. 1298 points: dwy0818's comment in Been in a coma for 23 days, about to check my portfolio
  4. 1170 points: Butterfly_Lags's comment in New price target $1,000
  5. 1110 points: mikewirkijowski's comment in Here you go
  6. 1053 points: phigo50's comment in My wife just talked me out of selling $10,000 eth
  7. 953 points: PcChip's comment in Vitalik Buterin: If all that we accomplish is lambo memes and immature puns about "sharting", then I WILL leave.
  8. 869 points: deleted's comment in Ethereum is UP since last month! Can we get this post to all to show everyone the tides are turning quickly
  9. 832 points: BroKing's comment in It's one of the biggest moments of your life... what to wear?
  10. 829 points: khalo_'s comment in Welcome to ethtrader new people, let me save you some time
Generated with BBoe's Subreddit Stats (Donate)
submitted by subreddit_stats to subreddit_stats [link] [comments]

Positive attitude of bitcoin

I was thinking about current situation. Couple days ago there were news that binance is under the pressure, and their CEO immediately told that they would open an office in Malta. And blockstream immediately told that they have an office there As I understand, serious people from crypto-world, at thegoverment level with officials make laws for themselves. Miners, meanwhile, are sitting in Canada with their farms and somewhere else. It turns out that the entire bitcoin infrastructure is safe: devs can still code, investors still could invest, miningfarms are also under protection with a reliable guarantor. So technically now there are no critical threats for bitcoin.
But with bitcoin we have an interesting situation. Firstly, it was just digital currency, then it became "the store of value", and now it converts into programmable platform. Honestly, nobody will pay for beer or coffee with bitcoin, people are too greedy, and buy something big is still a problem, also because of high volatility. I cannot say that it won't work, but the time hasn't become for it, nevertheless there are already things like houses and cars that you can buy for bitcoin, but this position is till too weak. We have a couple really strong positions : corruption, black market, semi-legal schemes for taxes and guys that buy everything if it is in trend. I think it is pretty cool, but still not enough for full common life integration, cause crypto-hipsters don't have enough financial volumes, and illegal world has its own structure, that could increase the volume, but not to the moon.
And and seemed like there is no light at the end of tunnel, if bitcoin hasn't started to transform in programmable platform. Recently there was an announcement from FileBazaar And today the new word appeared LApps - applications on lightning. FileBazaar is the first one LApp - in couple of words, it is a platform for digital content, for which authors are paid in bitcoin via the lightning channels. And it is undeniably cool, because recently were invested 1.5m$ in lightning.And it is not a funny project like crypto-kittens. And as you understand, there are no tokens given in exchange for anyone or anything. Those, this is a really considered decision.
Bitcoin is almost completed technically, some issues are still remaining, but there is a much strong need in marketing, promoters and sales managers. We need to adapt it for common people, we need contracts for use, paying terminals, possibility to buy everyday products. In this way bitcoin cash has higher rates and possibilities. But today it seems to be almost impossible due to unpredictable laws, and inconvenient transactions. With value storage we also have problems, because different officials and event mass media can drop the bitcoin´s exchange rate, hamsters and dummy investors start panic sell. Centralized exchanges the only place where the rate is established - are under the pressure of whales and big corporations, the real liquidity of the market under big question. Hence we have problems with bitcoin´s usability, hamsters cannot continue provide the fuel for bitcoin, and other population of our planet is still too uneducated in cryptoworld a lot of people still think that it is a kind of pyramid or soap bubble), they cannot understand it and sometimes even hate it. And the new breath of bitcoin is a wonderful way around all these problems - the programmable platform does not let developers to go down (their investment is invaluable), аt the same time, as we noted above, at the levels of closed meetings with the heads of some countries, new economic zones are opened for the further work of firms. Devs have something to work on , companies still receive their benefits, conservative investors can invest in real propety, miners are in safe position also. It could be real the second breath of cryptocurrencies , and much stronger, binance at the state level reveals an economic zone with the size of the country. Lets see what will be on Malta in next couple of years.
Let's not forget that bad guys can also help survive the cryptocurrencies. After all, this is a great way to "launder money", from illegal sources, which sinful high officials of all heads of state. So I would not be afraid of special sanctions, because there is someone to resist and fight. And if you say that bitcoin is not so anonymous, then there are still anonymous altcoins, and if there will be a strong need, there will be guys who will sponsor completely anonymous protocols that can be defeated only by disabling the Internet.
All in all I think that lightning with proper marketing can give the second breath for bitcoin. What´s your opinion guys?
submitted by _do_that_yoga_ to crypto_currency [link] [comments]

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