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Inside a Bitcoin Mining Operation in Hong Kong [Original source]

Inside a Bitcoin Mining Operation in Hong Kong [Original source] submitted by ani625 to technology [link] [comments]

They're handing out $70,000 in bitcoin vouchers in Hong Kong along with paper wallets in the streets. Samsung anonymous tips saying that 60% of operational revenue is going towards manufacturing bitcoin mining parts.

They're handing out $70,000 in bitcoin vouchers in Hong Kong along with paper wallets in the streets. Samsung anonymous tips saying that 60% of operational revenue is going towards manufacturing bitcoin mining parts. submitted by EckhartJV to btc [link] [comments]

Inside a Bitcoin Mining Operation in Hong Kong

Inside a Bitcoin Mining Operation in Hong Kong submitted by psygnisfive to Cyberpunk [link] [comments]

Pictures from inside a new Bitcoin mining operation in Hong Kong...

Pictures from inside a new Bitcoin mining operation in Hong Kong... submitted by mod83 to Bitcoin [link] [comments]

Inside a Bitcoin Mining Operation in Hong Kong [Original source]

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Inside a Bitcoin Mining Operation in Hong Kong

Inside a Bitcoin Mining Operation in Hong Kong submitted by ClownFromMars to realtech [link] [comments]

Flatten the Curve. #18. The current cold war between China and America explained. And how China was behind the 2008 Wall Street financial Crash. World War 3 is coming.

China, the USA, and the Afghanistan war are linked. And in order to get here, we will start there.
9-11 happened. Most of the planet mistakenly understood terrorists had struck a blow against Freedom and Capitalism and Democracy. It was time to invade Afghanistan. Yet all of the terrorists were linked to Saudi Arabia and not Afghanistan, that didn't make sense either. Yet they invaded to find Bin Laden, an ex CIA asset against the Soviet Union and it's subjugation of Afghanistan. The land in the middle of nowhere in relation to North America and the West. It was barren. A backwater without any strategic importance or natural resources.
Or was there?
The survey for rare earth elements was only made possible by the 2001 U.S. invasion, with work beginning in 2004. Mirzad says the Russians had already done significant surveying work during their military occupation of the country in the 1980s. Mirzad also toes the line for U.S. corporations, arguing, “The Afghan government should not touch the mining business. We have to give enough information to potential investors.”
Rare Earth Elements. The elements that make the information age possible. People could understand the First Gulf War and the Geopolitical importance of oil. That was easy, but it still didn't sound morally just to have a war for oil. It was too imperialist and so they fell in line and supported a war for Kuwaiti freedom instead, despite the obvious and public manipulation at the UN by Nayirah.
This is some of her testimony to the Human Rights Council.
While I was there, I saw the Iraqi soldiers come into the hospital with guns. They took the babies out of the incubators, took the incubators and left the children to die on the cold floor. It was horrifying. I could not help but think of my nephew who was born premature and might have died that day as well. After I left the hospital, some of my friends and I distributed flyers condemning the Iraqi invasion until we were warned we might be killed if the Iraqis saw us.
The Iraqis have destroyed everything in Kuwait. They stripped the supermarkets of food, the pharmacies of medicine, the factories of medical supplies, ransacked their houses and tortured neighbors and friends.
There was only one problem. She was the daughter of Saud Al-Sabah, the Kuwaiti ambassador to the United States. Furthermore, it was revealed that her testimony was organized as part of the Citizens for a Free Kuwait public relations campaign, which was run by the American public relations firm Hill & Knowlton for the Kuwaiti government (fun fact, Hill & Knowlton also have extensive ties with Bill Gates).
So the public was aghast at her testimony and supported the war against the mainly Soviet backed, but also American supported and Soviet backed Saddam Hussein, in his war against Iran, after the Iranians refused to Ally with American interests after the Islamic Revolution.
But that was oil, this was Rare Earth Elements. There was a reason the war was called, Operation Enduring Freedom. This natural resource was far more important in the long run. You couldn't have a security surveillance apparatus without it. And what was supposed to be a war on terror was in actuality a territorial occupation for resources.
Sleeping Dragon China is next, and where there's smoke, there's fire.
Let's go point form for clarity.
• China entered the rare earth market in the mid-1980s, at a time when the US was the major producer. But China soon caught up and became the production leader for rare earths. Its heavily state-supported strategy was aimed at dominating the global rare earth industry.
• 1989 Beijing’s Tiananmen Square spring. The U.S. government suspends military sales to Beijing and freezes relations.
• 1997. Clinton secures the release of Wei and Tiananmen Square protester Wang Dan. Beijing deports both dissidents to the United States. (If you don't understand these two were CIA assets working in China, you need to accept that not everything will be published. America wouldn't care about two political activists, but why would care about two intelligence operatives).
• March 1996. Taiwan’s First Free Presidential Vote.
• May 1999. America "accidently" bombs the Belgrade Chinese Embassy.
• 2002 Price competitiveness was hard for the USA to achieve due to low to non-existent Chinese environmental standards; as a result, the US finally stopped its rare earth production.
• October 2000. U.S. President Bill Clinton signs the U.S.-China Relations Act. China's take over of the market share in rare earth elements starts to increase.
• October 2001. Afghanistan war Enduring Freedom started to secure rare earth elements (Haven't you ever wondered how they could mobilize and invade so quickly? The military was already prepared).
• 2005. China establishes a monopoly on global production by keeping mineral prices low and then panics markets by introducing export quotas to raise prices by limiting supply.
• Rare Earth Elements. Prices go into the stratosphere (for example, dysprosium prices do a bitcoin, rocketing from $118/kg to $2,262/kg between 2008 and 2011).
• In a September 2005. Deputy Secretary of State Robert B. Zoellick initiates a strategic dialogue with China. This was presented as dialog to acknowledge China's emergence as a Superpower (which China probably insisted on), but it was about rare earth elements market price.
• October 2006. China allows North Korea to conduct its first nuclear test, China serves as a mediator to bring Pyongyang back to the negotiating table with the USA.
• September 2006. American housing prices start to fall.
(At some point after this, secret negotiations must have become increasingly hostile).
• March 2007. China Increases Military Spending. U.S. Vice President Dick Cheney says China’s military buildup is “not consistent” with the country’s stated goal of a “peaceful rise.”
• Mid-2005 and mid-2006. China bought between $100b and $250 billion of US housing debt between mid-2005 and mid-2006. This debt was bought using the same financial instruments that caused the financial collapse.
• 2006. Housing prices started to fall for the first time in decades.
• Mid-2006 and mid-2007. China likely added another $390b to its reserves. "At the same time, if China stopped buying -- especially now, when the private market is clogged up -- US financial markets would really seize up." Council on Foreign Relations-2007 August
• February 27, 2007. Stock markets in China and the U.S. fell by the most since 2003. Investors leave the money market and flock to Government backed Treasury Bills.
I've never seen it like this before,'' said Jim Galluzzo, who began trading short-maturity Treasuries 20 years ago and now trades bills at RBS Greenwich Capital in Greenwich, Connecticut.Bills right now are trading like dot-coms.''
We had clients asking to be pulled out of money market funds and wanting to get into Treasuries,'' said Henley Smith, fixed-income manager in New York at Castleton Partners, which oversees about $150 million in bonds.People are buying T-bills because you know exactly what's in it.''
• February 13, 2008. The Economic Stimulus Act of 2008 was enacted, which included a tax rebate. The total cost of this bill was projected at $152 billion for 2008. A December 2009 study found that only about one-third of the tax rebate was spent, providing only a modest amount of stimulus.
• September 2008. China Becomes Largest U.S. Foreign Creditor at 600 billion dollars.
• 2010. China’s market power peaked in when it reached a market share of around 97% of all rare earth mineral production. Outside of China, there were almost no other producers left.
Outside of China, the US is the second largest consumer of rare earths in the world behind Japan.
About 60% of US rare earth imports are used as catalysts for petroleum refining, making it the country’s major consumer of rare earths.
The US military also depends on rare earths. Many of the most advanced US weapon systems, including smart bombs, unmanned drones, cruise missiles, laser targeting, radar systems and the Joint Strike Fighter programme rely on rare earths. Against this background, the US Department of Defense (DoD) stated that “reliable access to the necessary material is a bedrock requirement for DOD”
• 2010. A trade dispute arose when the Chinese government reduced its export quotas by 40% in 2010, sending the rare earths prices in the markets outside China soaring. The government argued that the quotas were necessary to protect the environment.
• August 2010. China Becomes World’s Second-Largest Economy.
• November 2011. U.S. Secretary of State Hillary Clinton outlines a U.S. “pivot” to Asia. Clinton’s call for “increased investment—diplomatic, economic, strategic, and otherwise—in the Asia-Pacific region” is seen as a move to counter China’s growing clout.
• December 2011. U.S. President Barack Obama announces the United States and eight other nations have reached an agreement on the Trans-Pacific Partnership later announces plans to deploy 2,500 marines in Australia, prompting criticism from Beijing.
• November 2012. China’s New Leadership. Xi Jinping replaces Hu Jintao as president, Communist Party general secretary, and chairman of the Central Military Commission. Xi delivers a series of speeches on the “rejuvenation” of China.
• June 2013. U.S. President Barack Obama hosts Chinese President Xi Jinping for a “shirt-sleeves summit”
• May 19, 2014. A U.S. court indicts five Chinese hackers, allegedly with ties to China’s People’s Liberation Army, on charges of stealing trade technology from U.S. companies.
• November 12, 2014. Joint Climate Announcement. Barack Obama and Chinese President Xi Jinping issue a joint statement on climate change, pledging to reduce carbon emissions. (which very conveniently allows the quotas to fall and save pride for Xi).
• 2015. China drops the export quotas because in 2014, the WTO ruled against China.
• May 30, 2015 U.S. Warns China Over South China Sea. (China is trying to expand it's buffer zone to build a defense for the coming war).
• January 2016. The government to abolish the one-child policy, now allowing all families to have two children.
• February 9, 2017. Trump Affirms One China Policy After Raising Doubts.
• April 6 – 7, 2017. Trump Hosts Xi at Mar-a-Lago. Beijing and Washington to expand trade of products and services like beef, poultry, and electronic payments, though the countries do not address more contentious trade issues including aluminum, car parts, and steel.
• November 2017. President Xi meets with President Trump in another high profile summit.
• March 22, 2018. Trump Tariffs Target China. The White House alleges Chinese theft of U.S. technology and intellectual property. Coming on the heels of tariffs on steel and aluminum imports, the measures target goods including clothing, shoes, and electronics and restrict some Chinese investment in the United States.
• July 6, 2018 U.S.-China Trade War Escalates.
• September 2018. Modifications led to the exclusion of rare earths from the final list of products and they consequently were not subject to import tariffs imposed by the US government in September 2018.
• October 4, 2018. Pence Speech Signals Hard-Line Approach. He condemns what he calls growing Chinese military aggression, especially in the South China Sea, criticizes increased censorship and religious persecution by the Chinese government, and accuses China of stealing American intellectual property and interfering in U.S. elections.
• December 1, 2018. Canada Arrests Huawei Executive.
• March 6, 2019. Huawei Sues the United States.
• March 27 2019. India and the US signed an agreement to "strengthen bilateral security and civil nuclear cooperation" including the construction of six American nuclear reactors in India
• May 10, 2019. Trade War Intensifies.
• August 5, 2019. U.S. Labels China a Currency Manipulator.
• November 27, 2019. Trump Signs Bill Supporting Hong Kong Protesters. Chinese officials condemn the move, impose sanctions on several U.S.-based organizations, and suspend U.S. warship visits to Hong Kong.
• January 15, 2020. ‘Phase One’ Trade Deal Signed. But the agreement maintains most tariffs and does not mention the Chinese government’s extensive subsidies. Days before the signing, the United States dropped its designation of China as a currency manipulator.
• January 31, 2020. Tensions Soar Amid Coronavirus Pandemic.
• March 18, 2020. China Expels American Journalists. The Chinese government announces it will expel at least thirteen journalists from three U.S. newspapers—the New York Times, Wall Street Journal, and Washington Post—whose press credentials are set to expire in 2020. Beijing also demands that those outlets, as well as TIME and Voice of America, share information with the government about their operations in China. The Chinese Foreign Ministry says the moves are in response to the U.S. government’s decision earlier in the year to limit the number of Chinese journalists from five state-run media outlets in the United States to 100, down from 160, and designate those outlets as foreign missions.
And here we are. You may have noticed the Rare Earth Elements and the inclusion of Environmental Standards. Yes these are key to understanding the Geopolitical reality and importance of these events. There's a reason the one child policy stopped. Troop additions.
I believe our current political reality started at Tiananmen square. The protests were an American sponsored attempt at regime change after the failure to convince them to leave totalitarian communism and join a greater political framework.
Do I have proof? Yes.
China, as far as I'm concerned, was responsible for the 2008 economic crisis. The Rare Earth Elements were an attempt to weaken the States and strengthen themselves simultaneously. This stranglehold either forced America to trade with China, or the trade was an American Trojan horse to eventually collapse their economy and cause a revolution after Tiananmen Square failed. Does my second proposal sound far fetched? Didn't the economy just shut down in response to the epidemic? Aren't both sides blaming the other? At this POINT, the epidemic seems to be overstated doesn’t it? Don't the casualties tend to the elder demographic and those already weakened by a primary disease?
Exactly the kinds who wouldn't fight in a war.
Does this change some of my views on the possibility of upcoming catastrophes and reasons for certain events? No. This is Chess, and there are obvious moves in chess, hidden moves in chess, but the best moves involve peices which can be utilized in different ways if the board calls for it.
Is all what it seems? No.
I definitely changed a few previously held beliefs prior to today, and I would caution you in advance that you will find some previously held convictions challenged.
After uncovering what I did today, I would also strongly suggest reading information cautiously. This is all merely a culmination of ending the cold war, and once I have events laid out, you will see it as well.
At this moment, the end analysis is a war will start in the near future. This will be mainly for a few reasons, preemptive resource control for water and crops, population reduction can be achieved since we have too many people, not enough jobs, and upcoming resource scarcity.
Did you notice my omission of rare earth elements? This is because of Afghanistan. I would wager China or Russia is somehow supporting the continued resistance through Iran. But events are now accelerating with China because the western collation has already begun to build up their mines and start production.
Do you remember when Trump made a "joke" about buying Greenland? Yeah. It turns out that Greenland has one of the largest rare earth mineral deposits on the planet.
Take care. Be safe. Stay aware and be prepared.
This message not brought to you by the Bill and Melinda Gates Foundation, Microsoft, Google, Facebook, Elon Musk, Blackrock, Vangaurd, the Rockefeller Foundation, Rand Corporation, DARPA, Rothschilds, Agenda 21, Agenda 30, and ID 2020.
submitted by biggreekgeek to conspiracy [link] [comments]

The Unofficial Cardano FAQ - V3

(if you would like to add information or see mistakes, just comment below and I will credit you)
What is Cardano? Cardano is an open source and permissionless "Third Generation" blockchain project being developed by IOHK. Development and research started in 2015, with the 1.0 mainnet launching in 2017. Cardano blockchain is currently being developed into two layers. The first one is the ledger of account values, and the second one is the reason why values are transferred from one account to the other.
  1. Cardano Settlement Layer (CSL) - The CSL acts as the ledger of account or balance ledger. This is an idea created as an improvement of bitcoin blockchain. It uses a proof-of-stake consensus algorithm known as Ouroboros to generate new blocks and confirm transactions.
  2. Cardano Computation Layer (CCL) - The CCL contains the data how values are transferred. Since the computation layer is not connected to balance ledger, users of the CCL can create customized rules (smart contracts) when evaluating transactions. (https://support.bitkub.com/hc/en-us/articles/360006678892-What-are-the-two-layers-of-Cardano-)
IOHK has the contract with an undisclosed party to develop the project until the end of 2020, at which point the community may elect another development team - on the assumption that the voting infrastructure has been completed. However CEO Charles Hoskinson has stated that they will develop the project until it is completed, and they are simply financed until the end of 2020.
Cardano was the first project built on a peer-reviewed scientific development method, resulting in dozens of research papers produced by IOHK. Among these papers is Ouroboros Genesis, proving that a Proof of Stake protocol can be just as secure as Proof of Work - which was originally developed for Bitcoin, and refined for Ethereum. This PoS protocol considerably lowers the resources cost to maintain network while still maintaining security and network speed.
Cardano as a financial infrastructure is not yet completed, With significant development to be rolled out.
What were the other two generations of blockchain? Gen 1 was Bitcoin. It exists by itself and talks to nobody but Bitcoin. It is capable of peer to peer transactions without a third party in such a way that you cannot cheat the system. This was a major step forward for the E-cash concept that people have been working on for the 20 years prior.
Gen 2 was Ethereum and other smart-contract platforms that allow other coins and platforms to be built on top of their infrastructure. These coins can interact with others on the platform, but cannot interact with other platforms. Meaning it is still not truly interoperable. Most Gen 2 blockchains are also using Proof of Work likes Bitcoin, which effects scaling. Also missing is a built-in method to pay for upgrades and voting mechanics for decision making.
Gen 3 blockchains are a complete package designed to replace the current financial infrastructure of the world. Cardano is using Proof of Stake to ensure security and decentralisation(Shelley). Scaling through parallel computation (Hydra in Basho), Sidechains to allow the platform to interact with other platforms (Basho), and also include mechanisms for voting for project funding, changes to the protocol and improvement proposals (Voltaire). Finally smart contracts platform for new and established projects that are developer friendly (Goguen).
Who is the team behind Cardano? There are three organisations that are contributing to the development of Cardano. The first is the Cardano Foundation, an objective, non-profit organisation based in Switzerland. Its core responsibilities are to nurture, grow and educate Cardano users and commercial communities, to engage with authorities on regulatory and commercial matters and to act as a blockchain and cryptocurrency standards body. The second entity is IOHK, a leading cryptocurrency research and development company, which holds the contract to develop the platform until 2020. The final business partner is Emurgo, which invests in start-ups and assists commercial ventures to build on the Cardano blockchain.
www.Cardano.org www.emurgo.io https://cardanofoundation.org/en/
What is the difference between Proof of Work and Proof of stake? Both these protocols are known as “consensus protocols” that confirm whether a transaction is valid or invalid without a middleman like Visa or your bank. Every node (active and updated copy of the blockchain) can agree that the transaction did take place legitimately. If more than half validators agree, then the ledger is updated and the transaction is now secured. Proof-of-Work (PoW) happens when a miner is elected to solve an exceptionally difficult math problem and gets credit for adding a verified block to the blockchain. Finding a solution is an arduous guessing game that takes a considerable amount of computing power to compete for the correct answer. It is like “pick a number between 1 and one trillion” and when you get it right, you get $30,000 in Bitcoin, so the more computers you have working on it, the faster you can solve it. Also the more people who are trying to solve the same block, the harder the algorithm, so it may become 1 in 20 trillion. The downside is the massive amounts of power required to run the computers that run the network, and the slow pace that blocks are solved. To “Hack” a PoW system, you need 51% of the computing power, which would allow you to deny transactions, or spend the same coin twice. At the moment there are 8 main mining operations for bitcoin, and 4 of them make up more that 51% of the mining power.
PoS instead selects a coin at random that already exists, and the person who owns that coin is elected to put the work in to validate the block. This means there is no contest and no guessing game. Some computer power is required, but only a fraction of a PoW system. The complex nature of selecting a coin that exists on the correct and longest chain and is owned by someone who can complete the block, AND in such a way that it is secure AND that computer currently running AND that person also having an incentive to complete the work, has made the development of PoS very slow. However only a few years ago it wasn’t even possible. In this method, the more of the coin (ADA) you stake, the more likely you are to be selected to close a block. Cardano also allows you to delegate your stake to someone else to validate the block so they do the work, and you share in the reward for doing so.
To “hack” a PoS blockchain you need to own 51% of the tokens, which is significantly harder than owning 51% of the computing power.
What is ADA and how is it different to Cardano? Cardano is the name of the network infrastructure, and can be thought of like a rail network. ADA is the native token that has been developed alongside Cardano to facilitate the network operation. This helps confusion and maintains distinction, compared to Ethereum being the native token of Ethereum. Similar to bitcoin or any other token, ADA can be sent peer to peer as payment, but is also the reward for running the network, and what is taken as transaction fees.
In this metaphor “Cardano” is the train tracks, that everything runs on. A stake pool would be the locomotive, facilitating transactions on the network while ADA is the coal that powers the locomotive. The train carriages are Decentralised applications (Dapps) that are also running on cardano tracks, but are not actively powering the network.
What is staking Cardano is a Proof of Stake protocol, and uses already existing coins like a marker to ensure security. The protocol chooses a coin at random and the owner of that coin is elected to validate a block of transactions. Staking is the process of adding your ADA coins to a Pool that has the resources to run the network. If the pool you have chosen to "delegate" your stake to is chosen to close/validate a block, then you get a portion of the rewards. The ADA never leaves your wallet, and you can "undelegate" whenever you like. this increases stability of the network and also gives an incentive to pool operators to invest the time and hardware required to run a pool.
What is a stake-pool and how does it work? Cardano.org FAQ on the issue goes into much more detail
A stake pool is where the computing power of the network takes place. During ITN there was 1200 registered stake pools while 300 were creating blocks. You can manage your own stake-pool or delegate your ADA to an already registered pool. Rewards are determined by the protocol, however the pool may elect to charge fee Percentages, or flat rate fee to upkeep their pool.
Can I Stake my ADA right now? The staking testnet has closed, If you participated in the Incentivised Test Net and earned rewards, instructions to check the balance are here.
However if you have just purchased some or it was held on an exchange, then you will need to wait until the Shelley mainnet launch happening at the end of July 2020.
Where do I stake my ADA? Daedalus Flight wallet, and Yoroi Wallet (as a chrome extension) are the current best options. Adalite and several other third-party wallets also exist. Coinbase will also allow staking as a custodial service, and many exchanges may offer “staking as a service” so you can leave your coins on the exchange and still earn rewards if you enjoy trading. I do not recommend leaving coins on an exchange unless you are actively trading.
What are the staking rewards now and what can I expect on a return in the future? The Incentivised Test Net (ITN) Delivered 10%-15%pa returns on average. The future of staking will most likely be lower, but will depend on the amount of ADA staked across the network and the amount of network traffic.
Check https://staking.cardano.org/en/calculato for a clearer picture.
what is a Pledge? To stop one person operating many pools, the rewards that a pool earns will vary depending on the amount of personal ADA they “pledge” to open the pool. This means that 50 pools with a 1,00ADA pledge each will be overall less profitable than 1-2 pool with the max ADA pledge (unknown but likely around 300k). Even if the 50 pools have the same over stake delegated by other users and have a better chance of being selected to close a block, the 50 pools may receive lower rewards.. (at least that is the theory)
Who is IOHK? IOHK is a for-profit software engineering company founded by CEO Charles Hoskinson and Jeremy Wood in 2015 that has taken a scientific approach to the development of blockchain. IOHK started with “first principles” and looked at questions like “what is a blockchain” and “what should a blockchain be able to do” rather than accepting the established paradigm of Bitcoin and Ethereum. IOHK was originally Input Output Hong Kong, but is now Input Output Global and is based in Wyoming USA employing over 230 staff. IOHK has established research labs in several universities in order to complete the Cardano project, and is also developing Ethereum Classic, Atala, Mantis and possibly other Blockchain related programs and infrastructure.
Who is Charles? Charles Hoskinson is an early adopter of cryptocurrencies, American entrepreneur and cryptocurrency specialist. Charles Co-founded Ethereum with Vitalik Buterin and 5-8 others, However he only worked on that project for approximately six-months. Charles is now the CEO of IOHK and the director of The Bitcoin Education Project.
Why isn’t ADA on coinbase? Cardano and coinbase have recently connected in a big way. With IOHK turning over all their ADA to the custodial services of Coinbase. This means that Cardano and Coinbase have been working together for some time and there is a strong partnership forming. Staking and cold storage will be available and trading on Coinbase will most likely become available after the release of Shelley (although no official word yet)
Why Doesn’t Cardano have a Wikipedia Page? Wikipedia has strict guidelines on what can be turned into an article. As there has been no coverage of Cardano from mainstream media or “noteworthy” sources, there is no article yet. Wikipedia will also not accept sources from IOHK as they are not considered “reliable” and must come from a third party. This will most likely change soon.
Cardano does have a dedicated community driven wiki
https://cardanowiki.info/wiki/Home
What is Atala and why do I care?*
Atala is a suite of services being developed on top of the cardano blockchain by IOHK that focusses on credential certification, for things like education, work history and degrees (Atala Prism). Product counterfeiting protection through registering products on a blockchain and create taper-proof provenance. This does not only apply to Gucci handbags, but also medication, art, and anything that can be counterfeited (Atala Scan). As well as supply chain tracking to see issues and inefficiencies with greater transparency(Atala Trace).
Im new, how much is a good investment?
Cardano is still a speculative market and although there is amazing potential here, it is still only potential. When investing in any High risk market like Crypto, only every invest what you are willing to lose. Cardano may be testing the 10c barrier now. But in March it dumped to 1.7c. And if you suddenly need your money back during the dump then you are out of luck. Do your research before you FOMO in. Start with a small amount and send it between wallets and exchanges to understand how the system works. Store your private keys offline (or online cloud service but encrypted) with a method that is unlikely to be damaged AND have multiple copies. So in the case of a house fire or a blow to the head, or the cloud service being shutdown/destroyed, you do not lose your money.
Timelines
https://roadmap.cardano.org/en/
Shelley Decentralisation rollout and news
Goguen smart contract rollout
Voltaire Voting mechanics – no official roll out timeline (though promised for 2020)
Basho scaling and sidechains – no official roll out time line (most likely 2021)
submitted by YourBestMateRobbo to cardano [link] [comments]

CoinEx Token Rating Report by TokenInsight

CoinEx Token Rating Report by TokenInsight
Written by TokenInsight
Published by tokenin.cn

EXECUTIVE SUMMARY

Advantages

  1. The team’s overall technical background is good, and the CTO and CEO of the project have rich experience in related industries;
  2. The current business scope of CoinEx has been expanded, and the development of the public chain has a decisive role in promoting the development of the exchange business;
  3. The project operation information is transparent, and the development process is consistent with the road map;
  4. The unlocking schedule is clear, and the token held by the team will be unlocked continuously in the next five years;
  5. The project uses POS consensus mechanism. At present, it has been launched on the main network, and the block time is stable, between 2–3 seconds.

Challenges

  1. It is not clear enough yet whether the trichain operation planning can achieve the project’s development goals;
  2. There is limited information on implementation details about cross-chain and other related technologies, and the development status needs to be assessed based on the later project development disclosure information;
  3. The team currently hold a large share of the token, hence the distribution of tokens is relatively concentrated;
  4. There are few application scenarios for project tokens, and more ecosystem scenarios need to be developed;
  5. As a deflationary token, CET needs to be balanced by dealing with the contradiction between public chain users and token holders.

Outlook

The development of CoinEx Chain contributes to the future development of CoinEx’s centralized and decentralized exchanges; the concept of trichain operation simplifies the functions of each chain, improving their performance. At present, there are few exchanges working on the public chain, and no fierce competition has occurred.

Conclusion

Considering the status and development prospects of the project, TokenInsight gives CoinEx a rating of BB with a stable outlook.

1. Multidimensional evaluation


2. Project analysis

CoinEx (CoinEx Technology Limited) was established in December 2017 and is headquartered in Hong Kong, China. It is a sub-brand of the ViaBTC mining pool. At present, CoinEx’s business scope includes CoinEx exchange, CoinEx public chain, and CoinEx decentralized exchange. The current development focus of the CoinEx platform are public chain and exchange. The main purpose of the public chain is to build a decentralized exchange (DEX) infrastructure and an ecosystem around DEX.

CoinEx business structure,Source: CoinEx; TokenInsight

2.1 Introduction

“ CoinEx Chain uses the parallel operation of three chains which are DEX, Smart, and Privacy, as well as cross-chain technologies to create a rich decentralized exchange ecosystem and blockchain financial infrastructure.
The core of CoinEx’s early business was the exchange, consisted of two major categories which were spot and derivatives trading. Currently, there are 123 trading currencies online, covering 302 trading pairs. On June 28, 2019, CoinEx released the CoinEx Chain public chain white paper, aiming to build a decentralized trading system (CoinEx DEX) with community-based operations and transparent transaction rules, and providing user-controlled asset trading scenario by the highest technical standards in the industry; CoinEx Chain has become another development focus of CoinEx. CoinEx Token (CET), which was originally a native token of the CoinEx exchange, will also be developed mainly as a built-in token of the public chain.
CoinEx Chain is a public chain based on the Tendermint consensus protocol and Cosmos SDK, and it uses POS mechanism. CoinEx Chain plans to support 42 nodes when the project starts, and any entity in the ecosystem can participate in the validator’s campaign by staking CET. CoinEx Chain will use the new block reward and the transaction fee contained in the block as the reward for running the node.
CoinEx Chain has developed three public chains with different positioning and different functions in order to meet the needs of blockchain transactions for transaction performance, smart contracts, and privacy protection at the same time. They operate in parallel and collaborate with each other through cross-chain technology. At present, the block time of the public chain is between 2–3 seconds. According to the observation of TokenInsight, the block time is stable, but the number of transactions through the CoinEx public chain is still low at present, the number of transactions in 24 hours is about 30,000; The TPS on public chain disclosed by CoinEx can reach up to 1500 per second.
CoinEx Chain uses a trichain parallel model to build a more vibrant ecosystem around DEX. The three chains are DEX public chain, Smart public chain, and Privacy public chain, respectively responsible for decentralized transactions, smart contracts, and on-chain privacy protection.
CETs that need to participate in complex financial contracts can be transferred to the Smart public chain through the DEX public chain, then moved back to the DEX public chain after that. CET tokens that need to participate in token confusion can also be carried out through the privacy transaction of the Privacy public chain, and can eventually be returned to the DEX public chain. The three public chains are responsible for their respective duties, and they are interconnected through the cross-chain technology through the relay mechanism. In addition to ensuring their respective transaction processing speed and functional attributes, they can also jointly provide richer and safer functions, and synergistically constitute the CoinEx decentralized public chain ecosystem.
In addition, CoinEx Chain also supports any participant to issue new tokens on the chain and create new trading pairs for the issued tokens. CoinEx Chain guarantees the circulation of new tokens by establishing a trading pair between the new token and CET.

2.2 Component architecture

“ Tendermint Core and Cosmos SDK have improved the performance and operation capability of the blockchain. The SDK packaging reduces the consideration of non-related logic, hence reducing the development complexity.
CoinEx Chain is based on Tendermint Core and Cosmos SDK, both of which have brought a big boost to the development of CoinEx public chain performance. Cosmos-SDK will implement the application logic of the blockchain. Together with the Tendermint consensus engine, it implements the three-layer architecture of the CoinEx public chain: the application layer, the consensus layer, and the network layer.
Tendermint
Tendermint is based on the state machine replication technology and is suitable for blockchain ledger storage. It is a list of transactions making consensus with Byzantine fault tolerance, the transactions are executed in the same order, and eventually the same state is obtained. Tendermint can be used to build various distributed applications.
Cosmos SDK
Cosmos-SDK is a blockchain framework that supports the construction of multiple assets with a consensus mechanism of POS (Proof of Stake) or POA (Proof of Authority). The goal of the Cosmos SDK is to allow developers to easily build custom blockchains from 0, while enabling the interaction with other blockchains.
Cosmos-SDK is a blockchain framework that supports the construction of multiple assets with a consensus mechanism of POS (Proof of Stake) or POA (Proof of Authority). The goal of the Cosmos SDK is to allow developers to easily build custom blockchains from 0, while enabling the interaction with other blockchains. The blockchain development framework Cosmos SDK implements general functions such as account management, community governance, and staking in a modular form. Therefore, using the Cosmos SDK to build a public chain can simplify development procedures and facilitate operation. Tendermint is a fixed protocol in a partially synchronized environment, which can achieve throughput within a delay range of the network and each process itself. The CoinEx public chain is developed based on both, improving the performance and operability of the blockchain. The SDK packaging further reduces considerations of non-related logic and reduces the complexity of developers creating. The two components of Tendermint and Cosmos SDK are connected and interacted through the Application Blockchain Interface.
Cosmos SDK and Tendermint interworking structure,Source:CoinEx; TokenInsight

2.3 Project public chain planning

The development plan of the CoinEx public chain is to create a series of public chains with specific application directions, including:
  1. DEX public chain: solve the problems of lack of security and opacity that are widely criticized by centralized exchanges at present; aim to build a transparent, safe, and permission-free financial platform; restore the experience of central exchanges to the greatest extent;
  2. Smart public chain: a public chain that specifically supports smart contracts and provides a platform for building complex financial applications;
  3. Privacy public chain: mainly provides transaction amount, account balance, and information protection and the hiding of both parties to the transaction.
In order to achieve the performance of each specific application public chain, each public chain in the CoinEx public chain focuses on the development of a certain function. For example, in order to improve the transaction processing speed of the DEX public chain, the DEX public chain only supports the necessary functions and does not support smart contracts. To achieve the smart contract function support, cross-chain connection between the DEX public chain and the Smart public chain is required.

2.4 Operation analysis

“ The CoinEx platform publishes monthly ecosystem reports with high transparency; but the monthly reports are limited to contents about transactions and development, and lack progress in ecosystem and community construction, making them relatively simple.
2.4.1 Disclosure of ecosystem information
Operational risks have a direct impact on platform users. Whether platform operations are smooth and whether there is transparency are issues that platform users care about.
The CoinEx platform was established in 2017 and has around 3 years of development. It is also one of the platforms that has been developing for a long time in the exchange industry. It has obtained a digital currency trading license issued by the Estonian Financial Intelligence Unit (FIU), and the platform’s compliance is guaranteed to some degree.
The actual operation of the CoinEx platform will be displayed in the form of ecosystem monthly reports. The monthly report contains various types of content such as online currencies, new activities, plans for the next month, and ecosystem dynamics. It involves multiple business dimensions including the CoinEx exchange, CoinEx Public Chain, and CET token.

https://preview.redd.it/4mt0999ere551.png?width=631&format=png&auto=webp&s=cba27a7c90275f4c033bdd2445a72e6f294265e8
Snippet of a CoinEx ecosystem monthly report,Source: CoinEx; TokenInsight
2.4.2 Roadmap
CoinEx Chain released its development roadmap for the four quarters of 2020 in January 2020. The roadmap shows that CoinEx Chain will undergo major updates on smart contracts and DEX hard fork upgrades. The project roadmap is basically planned on a monthly basis, with a clear plan and a clear direction of development.
CoinEx Public Chain 2020 Development Roadmap,Source: CoinEx; TokenInsight
In addition to the development route planned in the roadmap, CoinEx public chain also discloses its goals for next month in its monthly ecological report. The project’s main net was launched online in November 2019. According to TokenInsight’s review of the development of CoinEx public chain from January to April and the disclosure of the project’s ecosystem monthly report, the project’s plan about development of the smart contract Demo in February failed to be completed as planned; the project completed launching of the new version of the blockchain browser and the Asian Atlantis upgrade; the smart contract virtual machine development was planned to be completed in April, but the progress related to supporting cross-chain agreements was not disclosed yet.
Overall, the project’s development route planning is clear, and the project’s development schedule is consistent with the plan, but there are still some discrepancies. Operation and development information is disclosed every month, and information transparency is high.

3. Industry & Competitors

The earliest origin of the exchange layout in the public chain field began in early 2018 when Binance released an announcement to start the development of the Binance Public Chain officially. In June of the same year, Huobi announced at its brand upgrade conference that it will combine the technical capabilities of the Huobi technical team and the community developers to develop the Huobi public chain called “Huobi Chain”. In December of the same year, OK Group announced the launch of its self-developed public chain OKchain, dedicating to provide underlying technical support and services for startups stationed in B-Labs.
The successful launch of the public chain brings huge strategic significance to the exchange, which can not only improve the performance of the existing business of the exchange but also achieve further expansion of its influence. As one of the most important blockchain infrastructures, the public chain can benefit the exchanges behind it.
As a platform for developing public chain technology exchanges, CoinEx’s main competitors in the field of public chain development include Binance, Huobi, and OKEx. Although they are all exchange platforms for deploying public chains, the above four are different in terms of specific functions, economic models, and critical points of the public chain.

3.1 Development progress comparison

In 2019, Binance became the first exchange to launch a public chain among all digital asset exchanges, and its main product is Binance exchange (DEX). In April 2020, Binance announced the launch of a second smart contract chain, using Ethereum’s virtual machine, so that developers can build decentralized applications without affecting the performance and functionality of their original chain.
OKEx launched OKChain’s testnet in February 2020 and completed open source two months later. OKChain is designed as the basis of large-scale blockchain-driven business applications, with the characteristics of source code decentralization, point-to-point, irreversibility, and efficient autonomy.
Huobi released Huobi Chain for the first time in July 2019, the code is open source, and the testnet was released in February 2020. As a “regulator-friendly financial blockchain”, Huobi Chain focuses on providing compliance services for companies and financial institutions.
The CoinEx public chain officially completed the main online launch in November 2019 and completed the new block browser’s launch in March 2020. On April 3, 2020, CoinEx DEX uploaded the underlying code to Github to achieve open source. The CoinEx public chain is more inclined to build a full DEX ecosystem to achieve a one-stop solution for issuing, listing, storing, and trading. The long-term goal is to create a blockchain financial infrastructure.

3.2 Comparison of economic models

At present, the exchange is more inclined to use its existing platform currency as the native token of the public chain in the construction of public chain ecology. CoinEx’s CET, Binance’s BNB, and Huobi’s HT all fall into this category. OKEx is the only exchange that issues new tokens for its OKChain, which means OKT is the only ‘inflation token’ in the exchange’s public chain, while CET, HT, and BNB are all deflationary.

3.3 Decentralization of public chain

The initial number of CoinEx public chain verification nodes is 42, which is currently the most decentralized among all exchange public chains, and able to take both efficiency and decentralization into account; OKChain also currently has a relatively high degree of decentralization in the exchange public chain (21 verification nodes), its nodes have a high degree of autonomy; by contrast, Binance still firmly controls the operation of nodes and transactions; In terms of encourages cooperation between regulators and the private financial aspects, Huobi provides a lesser degree of decentralization. Huobi Chain uses a variant of the DPoS consensus algorithm to provide functions such as “supervision nodes”, allowing regulators to become validators.
Comparison of some dimensions of CoinEx, Huobi, Binance and OKEx public chain,Source: TokenInsight

4. Token Economy

CoinEx Token (CET) is a native token of the CoinEx ecosystem. It was issued in January 2018. Token holders can enjoy some user value-added services within the ecosystem. Currently, it is mainly used as a native token on the CoinEx Chain. As of 11 am on April 23, 2020, the current circulation of CET tokens in the market is 3,215,354,906.31, with a total of 5,842,177,609.53. CET tokens will not be further issued or inflated. Currently, daily repurchase and quarterly destruction are carried out. The repurchase destruction dynamics can now be tracked real-time on the CET repurchase system on the platform.

4.1 Token Distribution

The CET token used to be based on the ERC-20 token developed by Ethereum. Since the CoinEx Chain mainnet was launched in November 2019, some ERC-20 CET tokens have been mapped to the mainnet CET, and the rest of the CET will be mapped before November 10, 2020. CET holders need to deposit ERC-20 CET to the COinEX exchange, and the exchange will conduct the main network mapping.
At present, CET is mainly circulated in the form of mainnet tokens, and only a small portion of ERC-20 CET has not been mapped. The distribution of token holdings currently circulating on the mainnet can be seen in the figure below. At present, the number of tokens held by the top ten holders accounts for about 60.44% of all mainnet CET tokens.
Distribution of CET token holding addresses,Source: Etherscan; TokenInsight
The following figure shows the initial distribution of tokens after the mainnet mapping preset by CoinEx. From the initial distribution map of CET, it shows that, after mapping, a large portion of CET remains concentrated in the hands of the team (31%), and the actual number of CET circulating in the market only accounts for 49% of the total.
The initial distribution of CET token,Source: CoinEx; TokenInsight
After the main net mapping, the 31% of the total CET (1.8 billion) held by the team will be gradually unlocked in the five years from 2020 to 2024, and 360 million CET will be unlocked each year. By 2024, the CET held by the team will be completely unlocked. From the current CET dynamics, the CET share held by some teams has been used for destruction purposes to achieve the purpose of CET austerity. If the frozen 1.8 billion CET held by the team are used for similar purposes, the development of CET and its platform can benefit from it.
Team’s CET unlocking plan,Source: CoinEx; TokenInsight

4.2 Token economic model

4.2.1 Deflation mechanism
Since the CET token went online in January 2018, CoinEx has increased the circulation of CET through airdrops, transaction fee refunds, operation promotion, and team unlocking. As one of the existing platform coins with long development time, the deflation mechanism of CET token has undergone a series of changes with the development of the industry. In 2018, when the concept of coin-based mining prevailed, CET used transaction mining, stake mining, and pending order mining, which were cancelled in October, December and, April respectively of the following year.
The repurchase and destruction model currently used by CET was updated by CoinEx on April 11, 2020. The original CET quarterly repurchase and destruction policy of the platform will be adjusted to daily repurchase and quarterly destruction. After the implementation of the daily repurchase policy, CoinEx will take out 50% of the daily fee income for CET repurchase in the secondary market and implement quarterly destruction until the total remaining circulation is 3 billion (currently about 5.8 billion).
At the same time that CoinEx updated the repurchase and destruction plan on April 11, the platform also launched a page dedicated to displaying CET repurchase information, so that users can clearly understand the progress of CET repurchase and destruction.
As of April 23, 2020, the platform has destroyed 4,157,822,390.46 CET tokens, accounting for 41.6% of the initial total issuance. At the end of January 2019, it had destroyed 4 billion CETs (single destruction volume peak) at the end of this quarter. The number of CETs to be destroyed is 3,422,983.56.
CET historical destruction data,Source: CoinEx; TokenInsight
4.2.2 Application scenarios
The current usage scenarios of CET are discounted platform transaction fees, VIP services, special activities rights and interests, CoinEx Chain internal circulation fuel, and use of external scenarios.
Deduction and discount of platform transaction fees
CoinEx platform users can use CET to deduct transaction fees when conducting transactions within the platform. At the same time, using CET to pay transaction fees can enjoy the exclusive preferential rates provided by the platform.
CET fee discount amount,Source:CoinEx; TokenInsight
VIP service
Holding a certain number of CETs can make a user become a platform VIP user. Users can also use CET to purchase platform VIPs to obtain corresponding privileges such as discounted rates, accelerated withdrawals, and exclusive customers.
Special activity rights
CET holders can enjoy special rights and interests in platform marketing activities, such as participating in the airdrop of tokens on the platform or accelerating opportunities for high-quality projects.
CoinEx Chain built-in token
CET will serve as a native token of CoinEx Chain, circulate and serve as fuel in CoinEx Chain, and users can also use CET to invest or trade other digital assets. In addition, CET can also serve as transaction fees and function fees (issuing Token, creating new trading pairs, account activation), etc. in the platform, and users can also participate in the campaign of validators by staking CET tokens.
CET is currently used as a circulation token as well for CoinEx DEX to issue tokens, create orders, Bancor, address activation, set address aliases, and other application scenarios.
In general, the types of application scenarios of CET are not plenty enough. In order to better develop the internal ecosystem of the platform, it is necessary to design and develop more CET usage scenarios and incentive mechanisms to increase the retention rate of users while adding new users.
4.2.3 Token incentive
As the native token of the CoinEx public chain, CET will be used as a block incentive to increase community participation after the mainnet of the public chain launched. The 315 million CET held by the foundation in the total CET issuance will be used to incentivize initial verification nodes and Staking participants.
CET annual incentive information,Source:CoinEx; TokenInsight

5. Team & Partners

5.1 Core team members

Among the core team members of CoinEx, the technical members account for a relatively large proportion. The technical team’s overall ability is good and the team members have different technical experience backgrounds including cryptography, underlying protocols, marketing, and operations. The team has rich blockchain industry experience, especially the chief developer, who has about 13 years of development industry experience.

https://preview.redd.it/kd0z9q0ese551.png?width=785&format=png&auto=webp&s=7beff33e522165202f6a0b75dba70f32630d8656
https://preview.redd.it/s2klsatese551.png?width=1024&format=png&auto=webp&s=57f03219007d853d754883e2e07cd5eb2c8ed17d
https://preview.redd.it/kuyspmkfse551.png?width=978&format=png&auto=webp&s=fd9c808107d245047f7c74ef34fcf6a02965152c

5.2 Investment institutions and partners

CoinEx’s investment is led by Bitmain and its main partners include Matrixport, Bitcoin.com, CoinBull, Consensus Lab, BTC.com, BTC.top, Hoo Exchange, Wa Yi, ChainFor.com, etc.
Investment institutions and major partners have rich experience in the industry, which can promote the development of projects to a certain extent. However, the current industry involved by the partners is not wide enough, and it will have a limited role in promoting the future of CoinEx’s enriching business lines and increasing ecosystem functions.
https://preview.redd.it/zjgzvv6ise551.png?width=533&format=png&auto=webp&s=a3f7fe3abb2c2d522e289213ae6fbc4e899825e0

6. Community Analysis

According to TokenInsight’s research of the CoinEx platform community, as of April 23, 2020, its official Twitter has 19,800 followers and 932 tweets; the official Telegram has 45 official groups, 3 in Chinese and English, and the other is Korean, Arabic, Vietnamese, Indian and other small language groups, with a total number of 56088 people; the current number of followers on Facebook accounts is 3,107. The overall community followers still have a lot of room for improvement, and community activeness needs to be improved.
Number of followers on the CoinEx social platform,Source:TokenInsight
At present, the project’s search popularity and official website visits are both top-notch, and monthly visits have slowly returned to their previous visit levels after experiencing a significant decline in December 2019.
CoinEx visit popularity,Source: TokenInsight, Similarweb, Google
At present, the visitors of the CoinEx website are distributed in multiple countries, and there are no visits concentration from a single country or region. Therefore, CoinEx’s comprehensive global influence is widely distributed and has a reasonable degree of internationalization.

CoinEx official website’s top 5 countries by number of visitors,Source: CoinEx, TokenInsight
Original article
Click here to register on CoinEx!
submitted by CoinExcom to btc [link] [comments]

Namecoin and the future of self-sovereign digital identity.

Namecoin's motto is "Bitcoin frees money – Namecoin frees DNS, identities, and other technologies."
biolizard89 has done fantastic work on the DNS part, but let's focus on the identity use case here. Recent events have convinced me that digital identity on the internet is broken. Consider:
What was true in 1993 when cartoonist Peter Steiner wrote "On the internet, nobody knows you are a dog" is still true today. The only difference is that identity is increasingly being weaponized using AI/ML so "On the internet, nobody knows you are a bot" would perhaps be more apt.
I read the following comment from a user on slashdot yesterday:
For the time being, you can assume that this comment was written by a human being. You can click on my username, look back at my history of posts, and go, "OK, here's a bunch of posts, by a person, going back more than a decade, to the TIME BEFORE BOTS." That is, before the first year of 2020.
Since humans are likely to adopt the majority opinion, bad actors find real value in being able to control the narrative online by surrounding the reader with manufactured opinions by bots that due to advances in ML/AI are quickly becoming indistinguishable from real users. This amounts to a Sybil attack on the minds of digital content consumers and poses major threat to the integrity of our social fabric.
Apart from the recent twitter incident used for scamming, nation states have been known to create massive bot armies of fake and hijacked user accounts to try and shift the narratives regarding the Hong Kong independence protests as well as national elections. This will only increase.
Currently, our digital identity is fragmented into silo's largely controlled by government institutions and mega corporations (FAANG) based on a "Trust us" model. As recent events have proven, this is a bad model and in dire need of improvement/replacement. IMHO we need to move from "Trust us" to a "Trust but verify" model where the user is in full control of their digital identity.
Namecoin can and should play an important role in building this 'web of trust composed of self-sovereign identities" as it is neutral (no owner), permissionless and secure (merge-mined). Daniel already developed a proof of concept with NameID but what can we do to take this further?
Personally I'd like to see users create Namecoin identities and link them to their social identities (e.g. Google, Facebook, Twitter, Reddit, etc). Then whenever they create content, they sign it with their private keys. This would allow a reader to verify the content was created by the user. Content verification would have stopped the recent twitter hack, because even if the hackers would have access to internal admin tools they would not have the private keys that the users produce valid content with. "Not your keys, not your content"
Content verification is only one part. Ideally a user would like to verify the integrity of the content creator as well. E.g. has this user passed human verification in any of the linked platforms? Does a trusted linked entity vouch for the reputation or integrity of this user (e.g. a government entity, financial entity or non-governmental organization?). This would require those platforms to allow linking of Namecoin ID with their Platform ID and allow lookup and signing of metadata provided by these platforms. (e.g. UserID Y is linked to PlatformID X and completed human verification on date Z, signed Twitter).
I image users could install an extension similar to uBlock or Privacy Badger that contains human curated blacklists and heuristics that operate on Namecoin entities to perform these checks and flag or filter content and users that fail integrity checks. This would allow a users to automatically weed out potential bots and trolls but keep full control of this process themselves, avoiding potential censorship if this task would fall on the platform owners themselves (something governments are pushing for).
We could take this even further and integrate Namecoin ID's in software and hardware devices as well. This could create chains of trust to verify the entire chain of content creation and manipulation to the final content posted on a social platform. Where every entity signs the resulting content. (E.g. camera -> photoshop -> twitter post)
Apart from signing content/messages (PGP style). Namecoin could perhaps also be used for managing identity tokens in a users 'Identity wallet'. Looking into my physical wallet this could include things like credit cards, insurance cards, government issued IDs, membership cards, transportation cards, key cards, etc. This could be done similar to 'colored coins' on Bitcoin. But would have to support some type of smart contract functionality to be useful (e.g. expiring tokens, etc).
I'm not a developer nor a technical writer, but I do think we need to think long and hard about how we can solve digital identity in a way that empowers users to trust and verify the content and identities of the peers we interact with online while also respecting privacy and preventing censorship by external parties. Namecoin could be the better path to building this web of trust, but given the current pace of AI/ML and the willingness by bad actors to weaponize it at scale against users interests we might not have much time. (Apologies for the rant!)
submitted by rmvaandr to Namecoin [link] [comments]

04-03 12:33 - 'Paul Le Roux' (self.Bitcoin) by /u/financeoptimum removed from /r/Bitcoin within 191-201min

'''
Paul Le Roux is a fascinating character, whose story entails drugs, gold, arms dealing, North Koreans, Iranians, elite-level encryption, Somali pirates, women...and more women.
Let's get into it...
Part 1/5 - The Early Years
Paul Le Roux was born on Christmas Eve, 1972, in Bulawayo, the second-largest city in what was then called—by the white minority that governed it, at least— Rhodesia.
In 1980, Robert Mugabe became prime minister of what would now be called Zimbabwe, ending minority white rule in the country.
Four years later, when Le Roux was 12, the family relocated to South Africa.
Not long after the move, in exchange for washing his father’s car, Le Roux was given his first computer. After that, a relation of Le Roux states that he became "completely anti-social.”
When Le Roux was 15 or 16, in the late 1980s, the local police raided the family home and arrested Paul for selling pornography. After that, Le Roux turned even more inward.
Although he was an excellent student, he despised the idea of learning Afrikaans, which was compulsory in South African schools, describing it as "a dead language" that he "didn't want to learn."
At 16, he dropped out of high school and decided to follow his interest in computers, taking a local programming course.
Family lore has it that after he spent one class explaining some technical fact to the teacher, he got a letter saying he no longer needed to attend. He then completed a year’s worth of material in eight weeks!
Accounts of Le Roux do indicate that he was exceptionally gifted, and people who worked with him described him as a genius.
After returning from a family holiday to Disneyland in the US, 17-year-old Le Roux decided to leave South Africa, and departed for the UK eight months later to work as a programmer.
He then moved from the UK to the US, where he lived in Virginia Beach.
After six months in the US, he followed his then-girlfriend Michelle to Australia in 1995. The couple married and Le Roux acquired Australian citizenship.
Le Roux frequented message boards and enjoyed trolling Australians. A typical post read:
"All of Australia could disappear into the Pacific and the only difference it would make to the World is the Americans would have one less pussy country to protect."
His posts caused outrage on the board - someone even changed their handle to fuck @ you.paul
Le Roux would later declare that his correspondents had fallen for his ploy:
"Australians are east to provoke and your postings (including 2 death threats, numerous flames, and one guy who swears he has my address & phone number) have provided me with hours of amusement."
Of course, Le Roux did more than just troll Australian message boards in this period...
Le Roux had started building E4M - Encryption for the Masses - in 1997, releasing it at the end of 1998.
Part 2/5 - The Turning Point
E4M allowed users to encrypt entire hard drives, and to conceal the existence of encrypted files (such that prying eyes wouldn't even know they were there).
According to Le Roux, the software was written from scratch, with thousands of hours going into its development and testing.
As well as this, in the [Politics section of the E4M website]1 , Le Roux published a sort of Manifesto, describing how "governments are increasingly relying on electronic data gathering" and how "Strong Encryption is the mechanism with which to combat these intrusions, preserve your rights, and guarantee your freedoms into the information age and beyond."
In the spirit of the open-source software movement in the late 90s, Le Roux released E4M for free and made the code available for other people to improve.
Therefore, with no income from his two years of labor, he was struggling financially. His marriage fell apart violently and the couple got divorced in 1999.
Le Roux first relocated to Hong Kong, then to Rotterdam in the Netherlands. He married a Dutch citizen named Lilian, and they had a child shortly after.
In 2000, in order to monetize E4M, Le Roux launched [SW Professionals]2 in 2000.
Based in South Africa, the company offered offshore programming, including E4M customization.
One of Le Roux's clients was an Italian telecoms engineer called Wilfried Hafner, who had corresponded with Le Roux for several years about E4M.
Hafner had founded a company to create a commercial encryption product that would combine some of the elements of E4M with another piece of software, Scramdisk. The new company would be called SecurStar, and its product would be called DriveCrypt.
Hafner hired Le Roux to build DriveCrypt's underlying engine.
At the time, Le Roux was desperate for money - he drove a beat up car and worked out of a Rotterdam apartment small enough that, on the phone, Hafner could often hear a baby crying in the background.
Hafner on the other hand was living in the South of France, and Le Roux openly coveted the kind of success that he imagined led to such a home. He told Hafner: "I am ambitious, I want to have all this."
However, in the middle of the development work for DriveCrypt, Hafner discovered that Le Roux was still working on E4M and had incorporated some of his work for SecurStar into his personal project. As a result, Hafner terminated Le Roux's contract.
By October 2002, SW Professionals was now defunct and Le Roux was openly soliciting for work on the alt.security.scramdisk forum.
It was around this time that Le Roux received some news that "shattered his whole world."
In 2002, he travelled to Zimbabwe to retrieve a copy of his birth certificate.
On the trip, his aunt and uncle pulled him aside to tell him the truth, and it was then that Le Roux found out he was adopted.
Although many family members had known for years, Le Roux’s parents had elected to keep him in the dark about it.
It was the "unknown" part that hurt him the most.
Shortly after, Le Roux appeared on an another set of message boards - he seemed to be launching some kind of moneymaking scheme that required opening a company based in the U.S.
In 2004, a group of anonymous developers did exactly what Hafner had feared: they released a new and powerful, free file-encryption program, called TrueCrypt, built on the code for E4M.
TrueCrypt combined security and convenience, giving users the ability to strongly encrypt files or entire disk drives while continuing to work with those files as they would a regular file on their computer.
Hafner and his SecurStar colleagues suspected that Le Roux was part of the TrueCrypt collective but couldn't prove it.
As we'll explore in Part 5, TrueCrypt is an interesting part of this story...
Part 3/5 - Money and Power
After Le Roux's departure from the encryption world, at least under his own name, he entered the Internet-pharmacy business.
What Le Roux did next was combine two of America's favourite past times, popping pills and online shopping, and the results were sensational. He turned over around $300MM in 4 years.
In 2007, Le Roux moved his family to Manila, where he would base his operations. He also had call centres in Israel. This was a brilliant move by Le Roux, as the authorities were not looking at Tel Aviv and Jerusalem as hot-spots for a large-scale organised crime operation...
Le Roux was moving serious volume during this time - his operation was once one of FedEx's largest customers.
A relative of Le Roux pointed to 2008 or 2009 as the point at which Le Roux snapped.
"I think the money got to him. I personally saw $100 million in his office in Makati. Cash, bud. It was fucking ridiculous. It was in wicker baskets lined up on the side of the wall in his office."
Le Roux's appetite only grew, and not just in the literal sense (he was known as the "Fat Man" in the Philippines): he wanted to be a different kind of businessman, a lord of the real underworld, not just the virtual one.
An Israeli associate of Le Roux tells how "Le Roux wanted to make more money, fast. Le Roux wanted to diversify, to be bigger. The only way to do that was illegal. He was living inside a movie, you could almost say."
As well as this, Le Roux was notorious for his sexual exploits - he once wrote to his cousin, "15-20 a week, sometimes 3 per night."
A former call centre employee tells how Le Roux approached him with an assignment, which at first he thought was collecting women for Le Roux to open a bar. However, that was not the reason, as Le Roux explained:
"I'm going to impregnate them, and build an army of kids."
Le Roux asked him to make a spreadsheet to track the women: their names, dress size, age, medical checkups. The operation was given top priority by Le Roux, who even sent his emissary to China to try to find women there.
It is rumoured that Le Roux has at least 11 children to 7 different women!
Le Roux's businesses expanded into logging, precious metals mining, gold smuggling, land deals, cocaine shipping, and arms dealing. These activities were spread across dozens of shell companies registered all over the world.
Of course, he needed to launder the money. Le Roux used paid muscle in Hong Kong to swap cash for gold bars, and then proceeded to stash the gold in warehouses in Hong Kong (this totalled around $50MM).
Speaking of paid muscle, Le Roux had plenty: ex-soldiers and mercenaries made sure any problems were dealt with force if necessary.
Le Roux was closest to ex-British soldier Dave Smith, who would act as the leader of the mercenaries and allow Le Roux to insulate himself and not have to deal with people. In fact, Le Roux once told Smith "I live vicariously through you."
However, things took a turn for the worse, at least from Dave Smith's perspective, as Smith stole $5MM worth of Gold from Le Roux.
Le Roux was furious. He then summoned Smith to his place in the country, and asked him to dig a hole as they needed to stash some gold. However, when he arrived, he was greeted by a South African hit-man. After the hit-man had finished shooting Smith, Le Roux then grabbed the gun and fired into Smith's corpse.
Le Roux then set about building an arms base in Somalia.
To achieve this, Le Roux called upon an ex-soldier from Europe, code-named 'Jack' to work for him on the ground in Somalia.
At sea, Jack had to bribe Somali pirates.
It was actually this activity in Somalia that landed Le Roux on the radar of the DEA, as he popped up in a UN Report on security in Somalia.
The DEA were now on his tail. Of course, his encryption skills came in handy - Le Roux's thick layers of encryption meant that the DEA needed someone on the inside...
Part 4/5 - "Well played gentlemen, well played"
Le Roux was getting more and more paranoid about people in his organisation stealing from him. Without justification, he suspected that his self proclaimed 'Golden Boy' Jack was stealing from him - so he ordered a hit on Jack.
This was a huge mistake on Le Roux's part, as Jack then called a CIA hotline and went on the run. It was 18 months later that a DEA investigating Le Roux found Jack's message to the CIA. The DEA agent then called Jack. Scared for his life, Jack agreed to turn informant.
In the meantime, Le Roux then had a change of heart and apologised to Jack for ordering the hit on him. The DEA then asked Le Roux to go back to work for Le Roux - they now had someone on the inside.
To tempt Le Roux, the DEA devised a sting operation. They knew that Le Roux wanted novelty and excitement. So they fabricated the scenario that Jack had made contact with a high profile Colombian trafficker, and the Colombians wanted to bypass the Mexicans for their meth supply in the US.
Le Roux was hooked. However, the DEA needed to lure Le Roux out of Manila, as his network of corrupt officials would ensure he will never be arrested.
Jack needed to get Le Roux to Liberia (where the DEA had a trusted ally in Fombah Sirleaf, Head of Liberia's National Security Agency).
Jack achieved this by saying that they needed to meet a cartel representative to finalise the deal.
It worked, and Le Roux was arrested. Initially, Le Roux went into passive resistance - he was a big unit (hence the nickname "Fat Man") - and it took around 10 agents to get him on the plane to fly back to the US.
Well he settled on the plane, the first thing Le Roux said to the DEA agents was: "Well played gentlemen, well played."
He then said: "If you're looking at me, then clearly you're looking at bigger things..."
The DEA agents were intrigued: "No Paul, you're the prize - what could possibly be bigger than you?"
Le Roux responded: "Nation states gentlemen, nation states."
He then started to spew out extremely valuable information on North Korea and Iran.
Of course, this wasn't the only leverage Le Roux had...
The enforcers who were once on Le Roux's payroll needed to be held accountable for their numerous murders, and the DEA were desperate to get them behind bars. Le Roux was key in their eventual capture. But that's not all: a crucial piece to this story is Part 5...
Part 5/5 - TrueCrypt
As we discussed previously, Le Roux was rumoured to be a member of the TrueCrypt collective.
In November 2012, a man with the online handle Cincinnatus decided to throw a party in Hawaii. The idea arose out of an email exchange with Runa Sandvik, a developer and expert on the online software Tor, which allows its users to mask the physical location of their computers on the Internet.
After she gave a Tor tutorial on Reddit, Cincinnatus sent Sandvik an encrypted message. Cincinnatus told Sandvik that he lived in Hawaii. Sandvik mentioned that she would be there on vacation the following month and could give a talk on Tor.
Cincinnatus suggested they host a “cryptoparty,” a phenomenon that had arisen around that time among technology- and privacy-conscious activists. The date was set for December 11.
Unbeknownst to Sandvik, her fellow party planner was hatching a much more elaborate education scheme. Four days after he contacted Sandvik, Cincinnatus sent an email to the journalist Glenn Greenwald. “The security of people’s communications is very important to me,” he wrote. In a series of emails, he suggested that Greenwald set up an encrypted means by which sources could contact him.
Cincinnatus organized the cryptoparty at a hacker space called HiCapacity, located in the back of a furniture store in Honolulu.
When Sandvik arrived around 6 p.m., Cincinnatus introduced himself as Ed and told her that he worked at the computer-hardware company Dell.
Ed kicked off the evening by welcoming the attendees, then invited Sandvik to give her presentation on Tor. When she was finished, Ed pulled out his laptop, plugged it into the projector, and began his own instructional talk about TrueCrypt. In Ed’s presentation, Sandvik later wrote, he “pointed out that while the only known name associated with TrueCrypt is someone in the Czech Republic, TrueCrypt is one of the best open-source solutions available.”
Six months later, in June 2013, Greenwald and filmmaker Laura Poitras published the first of a series of articles that grew out of their contact with Cincinnatus.
In time they revealed that his full name was Edward Snowden, that he had worked in various capacities at the National Security Agency, and that he had downloaded and handed over a trove of documents from the NSA in an effort to blow the whistle on what he believed were egregious privacy encroachments by the U.S. government.
Among them was a document revealing that TrueCrypt was one of a small number of encryption programs that had withstood the NSA’s efforts to crack it.
What Snowden and the rest of the world wouldn’t know for another two years was that Paul Le Roux, the man whose code formed the foundation of True Crypt, was at that very moment in the custody of the U.S. government. Le Roux was in a bind, facing the full force of a U.S. federal prosecution for any number of his extraordinary array of crimes. The only way out was to spill his secrets...
[[link]4
'''
Paul Le Roux
Go1dfish undelete link
unreddit undelete link
Author: financeoptimum
1: e4m.net/**l*ht*l 2: e4m*net* 3: www.yout*be.co*/watc**v=z**aMoJ**k* 4: www.youtube.com/watc*?v*z*Za*o***kc**^*
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

Crypto Weekly News — June, 19

What important crypto events happened last week?
📌 The U.S. District Court dismissed the appeal of the former CEO of the Bitcoin exchange Mt. Gox Mark Karpelès. He requested the removal of the fraud allegations made by the last remaining plaintiff. District Judge Gary S. Feinerman decided in favor of Gregory Green, the initiator of the class action lawsuit against Karpelès. The plaintiff insists that the head of the site did not provide an appropriate level of protection for user funds, accusing him of negligence and fraud.
📌 BitMEX exchange operator HDR Global Trading and OKCoin have granted $150,000 to Bitcoin Core developer Amiti Uttarvar who specializes in Bitcoin P2P level issues, being the author of a proposal to reduce the frequency of wallet attempts to relay transactions.
📌 The well-known Bitcoin investor Alistair Milne lost 1 BTC during a hacker attack, which he himself initiated. The purpose of the experiment was to find out how much data about the wallet would be enough to hack it. Milne created a separate Bitcoin address, transferred 1 BTC to it, and started laying out prompts to unravel a seed phrase of 12 words. When only 4 words remained, the hacker intervened and managed to brute force the remaining words in 44 hours.
📌 The creator of the Telegram messenger Pavel Durov warned of fraudulent schemes carried out allegedly on his behalf on Facebook and Instagram and noticed that such ads were approved by moderators of the platforms. Durov called on Facebook to organize the moderation of advertisements, and also expressed the hope that the company will compensate for the damage caused to users by the actions of moderators.
📌 Leading party functionaries in China have proposed a plan to create the central bank digital currency (CBDC) based on the currencies of China, Korea, Japan, and Hong Kong. A payment network with a regional CBDC could be part of the free trade agreement that Japan, Korea, and China are preparing to sign. The initiative will also allow China to expand its use of the renminbi internationally.
📌 Co-founder of the Centra Tech cryptocurrency project Robert Farkas pleaded guilty to organizing a $25 million fraudulent scheme. In 2018, Farkas, along with Sohrab Sharma and Raymond Trapani, was accused of cheating investors. The US Securities and Exchange Commission insisted that they provided knowingly false information about the partnership with Visa and Mastercard. Centra executives also assured investors that they are licensed to process money transfers in 38 states.
📌 As a result of the last recalculation of the complexity of Bitcoin mining, the indicator grew by 14.95% to 15.78 trillion hashes (T), approaching the pre-halving level.
📌 The non-custodial cryptocurrency P2P marketplace LocalCryptos opened up the possibility for users to buy and sell Litecoin (LTC) in addition to Bitcoin (BTC) and Ethereum (ETH). Previously, the platform was called LocalEthereum and supported the trading of the second largest cryptocurrency by capitalization. Along with a statement on adding support for other crypto assets, the marketplace rebranded. The first cryptocurrency added was Bitcoin.
📌 The Bitcoin.com cryptocurrency information portal account is blocked on YouTube. At the time of the ban, 40 thousand people were subscribed to the channel. By assumption, the blockage may be due to their political activity. Bitcoin.com founder Roger Ver called YouTube a tool for social media manipulation and censorship.
📌 Protocol Podcast host Eric Savix has lost all of Bitcoin's savings. On June 10, Savix downloaded the fake Google Chrome cryptocurrency extension Keep Key. He was not embarrassed by the requirement of the program to enter a seed phrase from the wallet. Thus, the hackers transferred all 12 BTC available to Savix (about $120 thousand at the time of the theft) to their account. The concerned community managed to collect a sixth of the stolen during the day.
📌 According to an official WhatsApp blog press release, users with Mastercard or Visa debit/credit cards of certain Brazilian banks now have an opportunity to send messages attaching their assets. The amount of payments is limited to twenty per day, however, the transaction size limit is not specified.
That’s all for now!
submitted by CoinjoyAssistant to cryptonewswire [link] [comments]

Crypto Weekly News — June, 19

What important crypto events happened last week?
📌 The U.S. District Court dismissed the appeal of the former CEO of the Bitcoin exchange Mt. Gox Mark Karpelès. He requested the removal of the fraud allegations made by the last remaining plaintiff. District Judge Gary S. Feinerman decided in favor of Gregory Green, the initiator of the class action lawsuit against Karpelès. The plaintiff insists that the head of the site did not provide an appropriate level of protection for user funds, accusing him of negligence and fraud.
📌 BitMEX exchange operator HDR Global Trading and OKCoin have granted $150,000 to Bitcoin Core developer Amiti Uttarvar who specializes in Bitcoin P2P level issues, being the author of a proposal to reduce the frequency of wallet attempts to relay transactions.
📌 The well-known Bitcoin investor Alistair Milne lost 1 BTC during a hacker attack, which he himself initiated. The purpose of the experiment was to find out how much data about the wallet would be enough to hack it. Milne created a separate Bitcoin address, transferred 1 BTC to it, and started laying out prompts to unravel a seed phrase of 12 words. When only 4 words remained, the hacker intervened and managed to brute force the remaining words in 44 hours.
📌 The creator of the Telegram messenger Pavel Durov warned of fraudulent schemes carried out allegedly on his behalf on Facebook and Instagram and noticed that such ads were approved by moderators of the platforms. Durov called on Facebook to organize the moderation of advertisements, and also expressed the hope that the company will compensate for the damage caused to users by the actions of moderators.
📌 Leading party functionaries in China have proposed a plan to create the central bank digital currency (CBDC) based on the currencies of China, Korea, Japan, and Hong Kong. A payment network with a regional CBDC could be part of the free trade agreement that Japan, Korea, and China are preparing to sign. The initiative will also allow China to expand its use of the renminbi internationally.
📌 Co-founder of the Centra Tech cryptocurrency project Robert Farkas pleaded guilty to organizing a $25 million fraudulent scheme. In 2018, Farkas, along with Sohrab Sharma and Raymond Trapani, was accused of cheating investors. The US Securities and Exchange Commission insisted that they provided knowingly false information about the partnership with Visa and Mastercard. Centra executives also assured investors that they are licensed to process money transfers in 38 states.
📌 As a result of the last recalculation of the complexity of Bitcoin mining, the indicator grew by 14.95% to 15.78 trillion hashes (T), approaching the pre-halving level.
📌 The non-custodial cryptocurrency P2P marketplace LocalCryptos opened up the possibility for users to buy and sell Litecoin (LTC) in addition to Bitcoin (BTC) and Ethereum (ETH). Previously, the platform was called LocalEthereum and supported the trading of the second largest cryptocurrency by capitalization. Along with a statement on adding support for other crypto assets, the marketplace rebranded. The first cryptocurrency added was Bitcoin.
📌 The Bitcoin.com cryptocurrency information portal account is blocked on YouTube. At the time of the ban, 40 thousand people were subscribed to the channel. By assumption, the blockage may be due to their political activity. Bitcoin.com founder Roger Ver called YouTube a tool for social media manipulation and censorship.
📌 Protocol Podcast host Eric Savix has lost all of Bitcoin's savings. On June 10, Savix downloaded the fake Google Chrome cryptocurrency extension Keep Key. He was not embarrassed by the requirement of the program to enter a seed phrase from the wallet. Thus, the hackers transferred all 12 BTC available to Savix (about $120 thousand at the time of the theft) to their account. The concerned community managed to collect a sixth of the stolen during the day.
📌 According to an official WhatsApp blog press release, users with Mastercard or Visa debit/credit cards of certain Brazilian banks now have an opportunity to send messages attaching their assets. The amount of payments is limited to twenty per day, however, the transaction size limit is not specified.
That’s all for now!
submitted by CoinjoyAssistant to CryptoCurrencies [link] [comments]

Crypto Weekly News — June, 19

What important crypto events happened last week?
📌 The U.S. District Court dismissed the appeal of the former CEO of the Bitcoin exchange Mt. Gox Mark Karpelès. He requested the removal of the fraud allegations made by the last remaining plaintiff. District Judge Gary S. Feinerman decided in favor of Gregory Green, the initiator of the class action lawsuit against Karpelès. The plaintiff insists that the head of the site did not provide an appropriate level of protection for user funds, accusing him of negligence and fraud.
📌 BitMEX exchange operator HDR Global Trading and OKCoin have granted $150,000 to Bitcoin Core developer Amiti Uttarvar who specializes in Bitcoin P2P level issues, being the author of a proposal to reduce the frequency of wallet attempts to relay transactions.
📌 The well-known Bitcoin investor Alistair Milne lost 1 BTC during a hacker attack, which he himself initiated. The purpose of the experiment was to find out how much data about the wallet would be enough to hack it. Milne created a separate Bitcoin address, transferred 1 BTC to it, and started laying out prompts to unravel a seed phrase of 12 words. When only 4 words remained, the hacker intervened and managed to brute force the remaining words in 44 hours.
📌 The creator of the Telegram messenger Pavel Durov warned of fraudulent schemes carried out allegedly on his behalf on Facebook and Instagram and noticed that such ads were approved by moderators of the platforms. Durov called on Facebook to organize the moderation of advertisements, and also expressed the hope that the company will compensate for the damage caused to users by the actions of moderators.
📌 Leading party functionaries in China have proposed a plan to create the central bank digital currency (CBDC) based on the currencies of China, Korea, Japan, and Hong Kong. A payment network with a regional CBDC could be part of the free trade agreement that Japan, Korea, and China are preparing to sign. The initiative will also allow China to expand its use of the renminbi internationally.
📌 Co-founder of the Centra Tech cryptocurrency project Robert Farkas pleaded guilty to organizing a $25 million fraudulent scheme. In 2018, Farkas, along with Sohrab Sharma and Raymond Trapani, was accused of cheating investors. The US Securities and Exchange Commission insisted that they provided knowingly false information about the partnership with Visa and Mastercard. Centra executives also assured investors that they are licensed to process money transfers in 38 states.
📌 As a result of the last recalculation of the complexity of Bitcoin mining, the indicator grew by 14.95% to 15.78 trillion hashes (T), approaching the pre-halving level.
📌 The non-custodial cryptocurrency P2P marketplace LocalCryptos opened up the possibility for users to buy and sell Litecoin (LTC) in addition to Bitcoin (BTC) and Ethereum (ETH). Previously, the platform was called LocalEthereum and supported the trading of the second largest cryptocurrency by capitalization. Along with a statement on adding support for other crypto assets, the marketplace rebranded. The first cryptocurrency added was Bitcoin.
📌 The Bitcoin.com cryptocurrency information portal account is blocked on YouTube. At the time of the ban, 40 thousand people were subscribed to the channel. By assumption, the blockage may be due to their political activity. Bitcoin.com founder Roger Ver called YouTube a tool for social media manipulation and censorship.
📌 Protocol Podcast host Eric Savix has lost all of Bitcoin's savings. On June 10, Savix downloaded the fake Google Chrome cryptocurrency extension Keep Key. He was not embarrassed by the requirement of the program to enter a seed phrase from the wallet. Thus, the hackers transferred all 12 BTC available to Savix (about $120 thousand at the time of the theft) to their account. The concerned community managed to collect a sixth of the stolen during the day.
📌 According to an official WhatsApp blog press release, users with Mastercard or Visa debit/credit cards of certain Brazilian banks now have an opportunity to send messages attaching their assets. The amount of payments is limited to twenty per day, however, the transaction size limit is not specified.
That’s all for now!
submitted by CoinjoyAssistant to CryptoNews24by7 [link] [comments]

Crypto Weekly News — June, 19

What important crypto events happened last week?
📌 The U.S. District Court dismissed the appeal of the former CEO of the Bitcoin exchange Mt. Gox Mark Karpelès. He requested the removal of the fraud allegations made by the last remaining plaintiff. District Judge Gary S. Feinerman decided in favor of Gregory Green, the initiator of the class action lawsuit against Karpelès. The plaintiff insists that the head of the site did not provide an appropriate level of protection for user funds, accusing him of negligence and fraud.
📌 BitMEX exchange operator HDR Global Trading and OKCoin have granted $150,000 to Bitcoin Core developer Amiti Uttarvar who specializes in Bitcoin P2P level issues, being the author of a proposal to reduce the frequency of wallet attempts to relay transactions.
📌 The well-known Bitcoin investor Alistair Milne lost 1 BTC during a hacker attack, which he himself initiated. The purpose of the experiment was to find out how much data about the wallet would be enough to hack it. Milne created a separate Bitcoin address, transferred 1 BTC to it, and started laying out prompts to unravel a seed phrase of 12 words. When only 4 words remained, the hacker intervened and managed to brute force the remaining words in 44 hours.
📌 The creator of the Telegram messenger Pavel Durov warned of fraudulent schemes carried out allegedly on his behalf on Facebook and Instagram and noticed that such ads were approved by moderators of the platforms. Durov called on Facebook to organize the moderation of advertisements, and also expressed the hope that the company will compensate for the damage caused to users by the actions of moderators.
📌 Leading party functionaries in China have proposed a plan to create the central bank digital currency (CBDC) based on the currencies of China, Korea, Japan, and Hong Kong. A payment network with a regional CBDC could be part of the free trade agreement that Japan, Korea, and China are preparing to sign. The initiative will also allow China to expand its use of the renminbi internationally.
📌 Co-founder of the Centra Tech cryptocurrency project Robert Farkas pleaded guilty to organizing a $25 million fraudulent scheme. In 2018, Farkas, along with Sohrab Sharma and Raymond Trapani, was accused of cheating investors. The US Securities and Exchange Commission insisted that they provided knowingly false information about the partnership with Visa and Mastercard. Centra executives also assured investors that they are licensed to process money transfers in 38 states.
📌 As a result of the last recalculation of the complexity of Bitcoin mining, the indicator grew by 14.95% to 15.78 trillion hashes (T), approaching the pre-halving level.
📌 The non-custodial cryptocurrency P2P marketplace LocalCryptos opened up the possibility for users to buy and sell Litecoin (LTC) in addition to Bitcoin (BTC) and Ethereum (ETH). Previously, the platform was called LocalEthereum and supported the trading of the second largest cryptocurrency by capitalization. Along with a statement on adding support for other crypto assets, the marketplace rebranded. The first cryptocurrency added was Bitcoin.
📌 The Bitcoin.com cryptocurrency information portal account is blocked on YouTube. At the time of the ban, 40 thousand people were subscribed to the channel. By assumption, the blockage may be due to their political activity. Bitcoin.com founder Roger Ver called YouTube a tool for social media manipulation and censorship.
📌 Protocol Podcast host Eric Savix has lost all of Bitcoin's savings. On June 10, Savix downloaded the fake Google Chrome cryptocurrency extension Keep Key. He was not embarrassed by the requirement of the program to enter a seed phrase from the wallet. Thus, the hackers transferred all 12 BTC available to Savix (about $120 thousand at the time of the theft) to their account. The concerned community managed to collect a sixth of the stolen during the day.
📌 According to an official WhatsApp blog press release, users with Mastercard or Visa debit/credit cards of certain Brazilian banks now have an opportunity to send messages attaching their assets. The amount of payments is limited to twenty per day, however, the transaction size limit is not specified.
That’s all for now!
submitted by CoinjoyAssistant to dogecoin [link] [comments]

Crypto Weekly News — June, 19

What important crypto events happened last week?
📌 The U.S. District Court dismissed the appeal of the former CEO of the Bitcoin exchange Mt. Gox Mark Karpelès. He requested the removal of the fraud allegations made by the last remaining plaintiff. District Judge Gary S. Feinerman decided in favor of Gregory Green, the initiator of the class action lawsuit against Karpelès. The plaintiff insists that the head of the site did not provide an appropriate level of protection for user funds, accusing him of negligence and fraud.
📌 BitMEX exchange operator HDR Global Trading and OKCoin have granted $150,000 to Bitcoin Core developer Amiti Uttarvar who specializes in Bitcoin P2P level issues, being the author of a proposal to reduce the frequency of wallet attempts to relay transactions.
📌 The well-known Bitcoin investor Alistair Milne lost 1 BTC during a hacker attack, which he himself initiated. The purpose of the experiment was to find out how much data about the wallet would be enough to hack it. Milne created a separate Bitcoin address, transferred 1 BTC to it, and started laying out prompts to unravel a seed phrase of 12 words. When only 4 words remained, the hacker intervened and managed to brute force the remaining words in 44 hours.
📌 The creator of the Telegram messenger Pavel Durov warned of fraudulent schemes carried out allegedly on his behalf on Facebook and Instagram and noticed that such ads were approved by moderators of the platforms. Durov called on Facebook to organize the moderation of advertisements, and also expressed the hope that the company will compensate for the damage caused to users by the actions of moderators.
📌 Leading party functionaries in China have proposed a plan to create the central bank digital currency (CBDC) based on the currencies of China, Korea, Japan, and Hong Kong. A payment network with a regional CBDC could be part of the free trade agreement that Japan, Korea, and China are preparing to sign. The initiative will also allow China to expand its use of the renminbi internationally.
📌 Co-founder of the Centra Tech cryptocurrency project Robert Farkas pleaded guilty to organizing a $25 million fraudulent scheme. In 2018, Farkas, along with Sohrab Sharma and Raymond Trapani, was accused of cheating investors. The US Securities and Exchange Commission insisted that they provided knowingly false information about the partnership with Visa and Mastercard. Centra executives also assured investors that they are licensed to process money transfers in 38 states.
📌 As a result of the last recalculation of the complexity of Bitcoin mining, the indicator grew by 14.95% to 15.78 trillion hashes (T), approaching the pre-halving level.
📌 The non-custodial cryptocurrency P2P marketplace LocalCryptos opened up the possibility for users to buy and sell Litecoin (LTC) in addition to Bitcoin (BTC) and Ethereum (ETH). Previously, the platform was called LocalEthereum and supported the trading of the second largest cryptocurrency by capitalization. Along with a statement on adding support for other crypto assets, the marketplace rebranded. The first cryptocurrency added was Bitcoin.
📌 The Bitcoin.com cryptocurrency information portal account is blocked on YouTube. At the time of the ban, 40 thousand people were subscribed to the channel. By assumption, the blockage may be due to their political activity. Bitcoin.com founder Roger Ver called YouTube a tool for social media manipulation and censorship.
📌 Protocol Podcast host Eric Savix has lost all of Bitcoin's savings. On June 10, Savix downloaded the fake Google Chrome cryptocurrency extension Keep Key. He was not embarrassed by the requirement of the program to enter a seed phrase from the wallet. Thus, the hackers transferred all 12 BTC available to Savix (about $120 thousand at the time of the theft) to their account. The concerned community managed to collect a sixth of the stolen during the day.
📌 According to an official WhatsApp blog press release, users with Mastercard or Visa debit/credit cards of certain Brazilian banks now have an opportunity to send messages attaching their assets. The amount of payments is limited to twenty per day, however, the transaction size limit is not specified.
That’s all for now!
submitted by CoinjoyAssistant to CryptoNews [link] [comments]

Crypto Weekly News — June, 19

What important crypto events happened last week?
📌 The U.S. District Court dismissed the appeal of the former CEO of the Bitcoin exchange Mt. Gox Mark Karpelès. He requested the removal of the fraud allegations made by the last remaining plaintiff. District Judge Gary S. Feinerman decided in favor of Gregory Green, the initiator of the class action lawsuit against Karpelès. The plaintiff insists that the head of the site did not provide an appropriate level of protection for user funds, accusing him of negligence and fraud.
📌 BitMEX exchange operator HDR Global Trading and OKCoin have granted $150,000 to Bitcoin Core developer Amiti Uttarvar who specializes in Bitcoin P2P level issues, being the author of a proposal to reduce the frequency of wallet attempts to relay transactions.
📌 The well-known Bitcoin investor Alistair Milne lost 1 BTC during a hacker attack, which he himself initiated. The purpose of the experiment was to find out how much data about the wallet would be enough to hack it. Milne created a separate Bitcoin address, transferred 1 BTC to it, and started laying out prompts to unravel a seed phrase of 12 words. When only 4 words remained, the hacker intervened and managed to brute force the remaining words in 44 hours.
📌 The creator of the Telegram messenger Pavel Durov warned of fraudulent schemes carried out allegedly on his behalf on Facebook and Instagram and noticed that such ads were approved by moderators of the platforms. Durov called on Facebook to organize the moderation of advertisements, and also expressed the hope that the company will compensate for the damage caused to users by the actions of moderators.
📌 Leading party functionaries in China have proposed a plan to create the central bank digital currency (CBDC) based on the currencies of China, Korea, Japan, and Hong Kong. A payment network with a regional CBDC could be part of the free trade agreement that Japan, Korea, and China are preparing to sign. The initiative will also allow China to expand its use of the renminbi internationally.
📌 Co-founder of the Centra Tech cryptocurrency project Robert Farkas pleaded guilty to organizing a $25 million fraudulent scheme. In 2018, Farkas, along with Sohrab Sharma and Raymond Trapani, was accused of cheating investors. The US Securities and Exchange Commission insisted that they provided knowingly false information about the partnership with Visa and Mastercard. Centra executives also assured investors that they are licensed to process money transfers in 38 states.
📌 As a result of the last recalculation of the complexity of Bitcoin mining, the indicator grew by 14.95% to 15.78 trillion hashes (T), approaching the pre-halving level.
📌 The non-custodial cryptocurrency P2P marketplace LocalCryptos opened up the possibility for users to buy and sell Litecoin (LTC) in addition to Bitcoin (BTC) and Ethereum (ETH). Previously, the platform was called LocalEthereum and supported the trading of the second largest cryptocurrency by capitalization. Along with a statement on adding support for other crypto assets, the marketplace rebranded. The first cryptocurrency added was Bitcoin.
📌 The Bitcoin.com cryptocurrency information portal account is blocked on YouTube. At the time of the ban, 40 thousand people were subscribed to the channel. By assumption, the blockage may be due to their political activity. Bitcoin.com founder Roger Ver called YouTube a tool for social media manipulation and censorship.
📌 Protocol Podcast host Eric Savix has lost all of Bitcoin's savings. On June 10, Savix downloaded the fake Google Chrome cryptocurrency extension Keep Key. He was not embarrassed by the requirement of the program to enter a seed phrase from the wallet. Thus, the hackers transferred all 12 BTC available to Savix (about $120 thousand at the time of the theft) to their account. The concerned community managed to collect a sixth of the stolen during the day.
📌 According to an official WhatsApp blog press release, users with Mastercard or Visa debit/credit cards of certain Brazilian banks now have an opportunity to send messages attaching their assets. The amount of payments is limited to twenty per day, however, the transaction size limit is not specified.
That’s all for now!
submitted by CoinjoyAssistant to CryptoMarkets [link] [comments]

CRYPTO WEEKLY NEWS — June, 19

What important crypto events happened last week?
📌 The U.S. District Court dismissed the appeal of the former CEO of the Bitcoin exchange Mt. Gox Mark Karpelès. He requested the removal of the fraud allegations made by the last remaining plaintiff. District Judge Gary S. Feinerman decided in favor of Gregory Green, the initiator of the class action lawsuit against Karpelès. The plaintiff insists that the head of the site did not provide an appropriate level of protection for user funds, accusing him of negligence and fraud.
📌 BitMEX exchange operator HDR Global Trading and OKCoin have granted $150,000 to Bitcoin Core developer Amiti Uttarvar who specializes in Bitcoin P2P level issues, being the author of a proposal to reduce the frequency of wallet attempts to relay transactions.
📌 The well-known Bitcoin investor Alistair Milne lost 1 BTC during a hacker attack, which he himself initiated. The purpose of the experiment was to find out how much data about the wallet would be enough to hack it. Milne created a separate Bitcoin address, transferred 1 BTC to it, and started laying out prompts to unravel a seed phrase of 12 words. When only 4 words remained, the hacker intervened and managed to brute force the remaining words in 44 hours.
📌 The creator of the Telegram messenger Pavel Durov warned of fraudulent schemes carried out allegedly on his behalf on Facebook and Instagram and noticed that such ads were approved by moderators of the platforms. Durov called on Facebook to organize the moderation of advertisements, and also expressed the hope that the company will compensate for the damage caused to users by the actions of moderators.
📌 Leading party functionaries in China have proposed a plan to create the central bank digital currency (CBDC) based on the currencies of China, Korea, Japan, and Hong Kong. A payment network with a regional CBDC could be part of the free trade agreement that Japan, Korea, and China are preparing to sign. The initiative will also allow China to expand its use of the renminbi internationally.
📌 Co-founder of the Centra Tech cryptocurrency project Robert Farkas pleaded guilty to organizing a $25 million fraudulent scheme. In 2018, Farkas, along with Sohrab Sharma and Raymond Trapani, was accused of cheating investors. The US Securities and Exchange Commission insisted that they provided knowingly false information about the partnership with Visa and Mastercard. Centra executives also assured investors that they are licensed to process money transfers in 38 states.
📌 As a result of the last recalculation of the complexity of Bitcoin mining, the indicator grew by 14.95% to 15.78 trillion hashes (T), approaching the pre-halving level.
📌 The non-custodial cryptocurrency P2P marketplace LocalCryptos opened up the possibility for users to buy and sell Litecoin (LTC) in addition to Bitcoin (BTC) and Ethereum (ETH). Previously, the platform was called LocalEthereum and supported the trading of the second largest cryptocurrency by capitalization. Along with a statement on adding support for other crypto assets, the marketplace rebranded. The first cryptocurrency added was Bitcoin.
📌 The Bitcoin.com cryptocurrency information portal account is blocked on YouTube. At the time of the ban, 40 thousand people were subscribed to the channel. By assumption, the blockage may be due to their political activity. Bitcoin.com founder Roger Ver called YouTube a tool for social media manipulation and censorship.
📌 Protocol Podcast host Eric Savix has lost all of Bitcoin's savings. On June 10, Savix downloaded the fake Google Chrome cryptocurrency extension Keep Key. He was not embarrassed by the requirement of the program to enter a seed phrase from the wallet. Thus, the hackers transferred all 12 BTC available to Savix (about $120 thousand at the time of the theft) to their account. The concerned community managed to collect a sixth of the stolen during the day.
📌 According to an official WhatsApp blog press release, users with Mastercard or Visa debit/credit cards of certain Brazilian banks now have an opportunity to send messages attaching their assets. The amount of payments is limited to twenty per day, however, the transaction size limit is not specified.
That’s all for now!
submitted by CoinjoyAssistant to u/CoinjoyAssistant [link] [comments]

Miner donations will not be implemented. I will vote No in the hashrate vote.

Jiang Zhuoer, the founder of Leibite mining pool, said in a Weibo post.
It was him who first proposed the plan, and it was also him who stood up and said that he would vote against it. The taste is only known to the BCH community who has been sawing for more than a month.
Planned preform
All this has to start from January 22. On this day, Jiang Zhuoer also published the article "Infrastructure Funding Plan (IFP) for Bitcoin Cash" on Weibo and medium at the same time. In his opinion, the current BCH has a problem of developer operating funds, only A few companies donate to developers, and the other members are hitchhikers, which can be called a tragedy of the commons.
In fact, it is not just BCH. Many early projects without 1CO lack a continuous source of funds. BTC and LTC also rely on the sustainable funding of companies and individuals to donate to developers. Regarding this, Jiang Zhuoer added at the subsequent AMA held by Reddit that a few companies continued to donate, and these companies' right to speak would increase, which might affect the development in the future, which is also a major hidden danger.
So based on the consideration of stable development funds, he said that several major mining pools on BCH (BTC.TOP, Antpool, BTC.com, ViaBTC, Bitcoin.com) will implement a new donation plan that will reward BCH for block explosions. 12.5% ​​was donated to a specially established fund to support BCH infrastructure, which aims to provide sufficient funds for BCH developers. Blocks that are unwilling to participate in this donation plan will be isolated.
According to its disclosure, the donation will last 6 months and the estimated amount is about 6 million US dollars. A Hong Kong company has been set up to accept and distribute funds. At the end of the article, Jiang Zhuoer, Wu Jihan, Yang Haibo and Roger Ver were stated to be supporters of this plan.
The response was extremely intense
After the news came out, BCH communities at home and abroad had a heated discussion. There are mixed voices in China. Some people think that this is a great benefit to the BCH currency price. Some people think that this is a miner sacrificing part of their own interests to support infrastructure construction. It is a manifestation of the spirit of the community, but some people allege that this is a pumping behavior ... these are evident in the comments below Jiang Zhuo's blog post.
The foreign community, which has gathered most of the BCH developers and core personnel, is even more dramatic.
On January 23, the day after the BCH miner donation plan was issued, Amaury Séchet (@deadalnix), the chief developer of the ABC team of BCH, posted a post on read.cash [1], which is the platform for the donation plan. He said this plan It has been brewing for a long time. The operation of the team needs financial support, clarifying that this is not the so-called "compulsory miner tax". What's more notable is that he thinks that there is no problem as long as the endowment fund can be transparent, and even Mao has recommended himself that he and Jonald Fyookball, the chief developer of Electron Cash, a light wallet developed by BCH, are qualified to control the fund.
Later, the Jonald Fyookball he mentioned also posted on read.cash [2], which also said that it would be beneficial to the team and miners. I have tried many measures on development funds before, but none of them worked. One will be a short six-month trial and will be upgraded in the next BCH agreement.
However, the core people in the community took the lead to speak out in support of this, but it could not stop the tide of opposition afterwards.
In order to fight for the miners' donation, the moderators of read.cash also created a special "Debate section" [4] for the community to express their opinions.
On January 26, Peter Rizun, chief scientist of the Bitcoin Unlimited (BU) team, posted a post on it [5], explaining in detail the operation of funds in this scheme. (It is necessary to add here that the BCH network is composed of two major clients, ABC and BU, which together account for more than 95% of the 1,510 public nodes in the BCH network.)
According to his article, the 12.5% ​​block reward BCH tokens will be sent directly to the new company in Hong Kong, and the developer's operating funds will come from the funds obtained by the new company from selling these BCH tokens on the exchange.
After the mining revenue decreases, the hash rate of the network will drop by about the same percentage. Since BCH accounts for about 3% of the SHA256 hash rate, and other conditions remain unchanged, the total income of SHA256 miners will fall by ~ 0.4%. The following figure graphically shows the flow of these donated tokens: In fact, the mining The merchant lost only a small part of its profits. The group of investors who ultimately bought the BCH tokens out of the Hong Kong company. In the text, Peter Rizun pointed out that this is simply the developer service tax of BCH, and corruption will arise.
In addition, the Bitcoin protocol has been eleven years so far. At present, what BCH needs to do is how to make the protocol more stable. The role of developer should gradually fade away, and the continuous growth of users is the core. Peter Rizun even stated at the end of the article that the monopolistic miners are still trying to adopt such a plan, and the greed is obvious and disgusting, and the BU team will probably not accept this donation plan.
On the same day, BCH developer Imaginary Username posted that he believes that the development team's funds can come directly from capital investment, sponsorship, shareholder contributions and voluntary payments by miners, rather than forcing miners to pay. c After this, a BCH crowdfunding plan named Flipstarter.cash was announced online [7], and proposed other fundraising schemes other than donations from miners, and emphasized that this would be a new proposal based on voluntary.
In general, opponents of these donation programs acknowledge that developers need revenue and infrastructure needs to be maintained, but also said that if the final plan is passed, those who do not support this plan will be lonely and violate the blockchain. spirit. Whether the taxation in disguise causes corruption, whether it will be carried out for a long time, or whether it violates the spirit of blockchain decentralization is the focus of debate.
Things are still fermenting. Subsequently, Bitcoin.com also began to counter water, thinking that there is no consensus on this plan at present, and the development team needs to be clear about their use of funds. Bitcoin.com will also adopt a more prudent attitude and will not risk the risk of chain forks To support this decision.
Regenerate
In the face of various oppositions, Jiang Zhuoer released a new donation plan on February 1 [9], stating that the issue of donation ratio is in fact questionable, and reiterated that this plan will be democratic and encourage miners to perform computing power. Vote for your opinion. This plan will only be implemented if more than two-thirds of the computing power vote in favor of the donation. On February 16, Jiang Zhuoer updated the donation plan again, which reduced the original 12.5% ​​to 5%.
However, the release of the new version did not solve the doubts in the community.
In response, digital currency commentator WhalePanda tweeted that the miner's tax rate is very funny, and any block that is not donated will be blocked. This is actually a totalitarian totalitarian regime, accompanied by a 51% attack threat.
On the same day on the 16th, Roger ver, the founder of the Bitcoin.com wallet, posted a YouTube video [10]. He believed that the donation ratio was 12.5% ​​or 5% a bit random, and said "probably because of communication problems". His donation plan supporters have his name, but in fact he and Bitcoin.com do not support the plan.
In fact, aside from the question of donation ratio, it is worth considering whether this so-called hashrate voting has practical significance. According to data from BTC.com, the five mining pools of the four supporters mentioned by Jiang Zhuoer have a total BCH computing power of more than 51%, reaching 54.5%, occupying a considerable say, and it is difficult for other miners to have a real speech right.
Despite the opposition of the plan, it was still proceeding methodically.
On February 18, according to an official BitcoinABC tweet, the ABC team has added the code for the donation plan to the ABC version 0.21.0 client. At the same time, TobiasRuck and Antony Zegers of the ABC team, and the BCHD team have stated their support for the donation plan at this node.
On the one hand, there is no consensus, and on the other hand, donations need to be opened.
This self-talking attitude caused strong dissatisfaction in the community. On February 19th, Freetrader, one of the earliest developers in the BCH ecosystem, created a full node called BCH Node (BCHN) [11], This version will remove the donation plan, express protest, and then release the PGP signatures of the BCHN project supporters. The supporters gathered, including Alexander Levin Jr, CEO of Asicseer.com, Pokkst of Crescent Cash wallet, Tipbitcoin cash, bitcoincashj , Tubing host Collin Enstad and others.
Fragmentation and unification
To this point, the community split into two camps, led by the ABC team and Electron Cash wallet, BCHD, etc. to support the donation plan, and BU, BCHN, etc. formed an opposition. In fact, various disputes have already raised concerns from the domestic and foreign communities that BCH may fork again.
Fragmentation, strife ...
This softened Jiang Zhuoer's attitude in LongBit's online live broadcast, saying that at least basic community consensus must be reached before donations can begin.
Subsequently, at the second meeting of the BCH developers, Séchet of the ABC team who initially stood up to support this plan also said loosely that there are currently differences, and miners will not ignore these opinions and go their own ways. If the community becomes better, Alternatives can also be implemented.
The concessions of the Séchets became a sign of gradual strife in foreign communities. Regarding the end of the entire donation plan, it ended with a post by Jiang Zhuoer's Weibo.
In the article "Talking about the differences and recent market trends of BTC, BCH, and BSV" on March 5, Jiang Zhuoer said that due to a lot of opposition from the community, especially from major BCH supporters like Roger, the donations of miners will not be implemented. . The dispute, which lasted more than a month, finally ended with the termination of the donation plan.
In fact, the donation plan was updated many times, and the donation share easily changed without letting us see the basis for its formulation, as Roger ver said "somewhat randomly". And "voluntary and democratic" computing power voting, if someone finally voted No in the computing power vote can influence the result, which will also lead to thinking about computing power dictatorship.
submitted by FmzQuant to u/FmzQuant [link] [comments]

Gratitude for Dash

It's easy to forget how far we've come in so little time. A decade ago free-market money in digital form was a completely foreign concept to 99% of the world. Now, pretty much everyone I talk to knows about "blockchain" and "bitcoin", and we have hundreds of teams working to make free-market digital cash a reality. A few of those teams have really compelling products - it's no longer a science project - and Dash is leading the way.
I am continually checking the wider landscape to see if any projects besides Dash are starting to catch up to us. I see great innovators and hard work, but I don't see the progress that I see in Dash. Our closest competitor is Bitcoin Cash. They seem to have the right vision, digital cash, and they have excellent engineers and a passionate community, but something is missing.
Several large Bitcoin Cash mining pools recently announced a proposal/plan to start paying developers with part of the block reward. The concept is the same as Dash (pay developers with inflation), but the distribution mechanism is vastly different. I've been closely following the discussion and debates in btc and it's been fascinating to see the reactions. Some general trends I'm seeing:
What I'm grateful for is that Dash has worked out many, if not all, of these issues already. We are paying developers, and we have control over who gets the funds, how much they get, and for how long they get them. For the most part we don't care if funded entities set up corporations to run their internal affairs or not (we can always defund if a problem arises with either approach for a specific scope). While the specific funding decisions can be difficult, the process is smooth, and getting more streamlined every month. We don't consider our superblock to be a "coercive tax". Those who do have already left, can leave at any time, or simply don't join. It's all understood, and is completely voluntary.
We just finished another successful month of funding where we voluntarily paid developers, marketers, and other workers roughly 5,700 DASH (~$655,000) for the value their work has or is expected to bring to Dash. That's how the real world operates - people do valuable work and they get paid for it, mutual benefit, every transacting party is happy (or at least should be).
And while we're on the subject of this month's payouts, I'd like to add a few of my observations. I was pretty happy to see how the funding shook out. I've had my criticisms of the Dash Investment Foundation, but they took action (revised their proposal at a lower cost) to address one of them this month. Whether my or other people's input had anything to do with their revision doesn't matter as much as that they made the revision, and their proposal passed. I expected Dash Force to resubmit their proposal with a lower ask. There was plenty of time to do so. I didn't want them to receive zero (their work is more valuable than zero), but it seems I was not alone in the opinion that the juice was simply not worth the squeeze with that proposal. I hope they re-evaluate and come back next month with a more compelling value proposition. Speaking of value propositions, one last observation about this month's superblock: If you haven't already, check out the DACH's DCW marketing proposal. I was skeptical when I first skimmed it, but when I came back to it later in the cycle and read it through all the way (including the resources they linked to) I was pretty impressed by the thought that went into it. I'm cautiously optimistic about its potential.
I'm truly grateful for our independent Dash contractors. It takes guts and heart to submit proposals. It's not always the most rewarding job. I'm grateful all of you who put in proposals, and keep coming back, especially after you get kicked in the teeth by MNOs. Those of you who have not been through this process don't have much justification to complain.
I know this is a long post, and thank you for reading, but I'd like to circle back to Bitcoin Cash. I said they were missing something. What? They really are missing two crucial components.
  1. Governance - They have to rely on social media platforms and hash wars to make decisions. It's clunky.
  2. Funding - They have to rely on donations (time and money) and/or outside interest groups. It's dangerous and slow.
I don't see Bitcoin Cash figuring out either of these things anytime soon. I've seen the debates, it's not an easy situation for them. I honestly hope I'm wrong and that they do figure them out, because I want stiffer competition for Dash, and more options for digital cash. For now, and for the foreseeable future, I'm just grateful we have Dash. We're getting closer to user-friendly digital cash every day.
submitted by ISkiAtAlta to dashpay [link] [comments]

Transcript of discussion between an ASIC designer and several proof-of-work designers from #monero-pow channel on Freenode this morning

[08:07:01] lukminer contains precompiled cn/r math sequences for some blocks: https://lukminer.org/2019/03/09/oh-kay-v4r-here-we-come/
[08:07:11] try that with RandomX :P
[08:09:00] tevador: are you ready for some RandomX feedback? it looks like the CNv4 is slowly stabilizing, hashrate comes down...
[08:09:07] how does it even make sense to precompile it?
[08:09:14] mine 1% faster for 2 minutes?
[08:09:35] naturally we think the entire asic-resistance strategy is doomed to fail :) but that's a high-level thing, who knows. people may think it's great.
[08:09:49] about RandomX: looks like the cache size was chosen to make it GPU-hard
[08:09:56] looking forward to more docs
[08:11:38] after initial skimming, I would think it's possible to make a 10x asic for RandomX. But at least for us, we will only make an ASIC if there is not a total ASIC hostility there in the first place. That's better for the secret miners then.
[08:13:12] What I propose is this: we are working on an Ethash ASIC right now, and once we have that working, we would invite tevador or whoever wants to come to HK/Shenzhen and we walk you guys through how we would make a RandomX ASIC. You can then process this input in any way you like. Something like that.
[08:13:49] unless asics (or other accelerators) re-emerge on XMR faster than expected, it looks like there is a little bit of time before RandomX rollout
[08:14:22] 10x in what measure? $/hash or watt/hash?
[08:14:46] watt/hash
[08:15:19] so you can make 10 times more efficient double precisio FPU?
[08:16:02] like I said let's try to be productive. You are having me here, let's work together!
[08:16:15] continue with RandomX, publish more docs. that's always helpful.
[08:16:37] I'm trying to understand how it's possible at all. Why AMD/Intel are so inefficient at running FP calculations?
[08:18:05] midipoet ([email protected]/web/irccloud.com/x-vszshqqxwybvtsjm) has joined #monero-pow
[08:18:17] hardware development works the other way round. We start with 1) math then 2) optimization priority 3) hw/sw boundary 4) IP selection 5) physical implementation
[08:22:32] This still doesn't explain at which point you get 10x
[08:23:07] Weren't you the ones claiming "We can accelerate ProgPoW by a factor of 3x to 8x." ? I find it hard to believe too.
[08:30:20] sure
[08:30:26] so my idea: first we finish our current chip
[08:30:35] from simulation to silicon :)
[08:30:40] we love this stuff... we do it anyway
[08:30:59] now we have a communication channel, and we don't call each other names immediately anymore: big progress!
[08:31:06] you know, we russians have a saying "it was smooth on paper, but they forgot about ravines"
[08:31:12] So I need a bit more details
[08:31:16] ha ha. good!
[08:31:31] that's why I want to avoid to just make claims
[08:31:34] let's work
[08:31:40] RandomX comes in Sep/Oct, right?
[08:31:45] Maybe
[08:32:20] We need to audit it first
[08:32:31] ok
[08:32:59] we don't make chips to prove sw devs that their assumptions about hardware are wrong. especially not if these guys then promptly hardfork and move to the next wrong assumption :)
[08:33:10] from the outside, this only means that hw & sw are devaluing each other
[08:33:24] neither of us should do this
[08:33:47] we are making chips that can hopefully accelerate more crypto ops in the future
[08:33:52] signing, verifying, proving, etc.
[08:34:02] PoW is just a feature like others
[08:34:18] sech1: is it easy for you to come to Hong Kong? (visa-wise)
[08:34:20] or difficult?
[08:34:33] or are you there sometimes?
[08:34:41] It's kind of far away
[08:35:13] we are looking forward to more RandomX docs. that's the first step.
[08:35:31] I want to avoid that we have some meme "Linzhi says they can accelerate XYZ by factor x" .... "ha ha ha"
[08:35:37] right? we don't want that :)
[08:35:39] doc is almost finished
[08:35:40] What docs do you need? It's described pretty good
[08:35:41] so I better say nothing now
[08:35:50] we focus on our Ethash chip
[08:36:05] then based on that, we are happy to walk interested people through the design and what else it can do
[08:36:22] that's a better approach from my view than making claims that are laughed away (rightfully so, because no silicon...)
[08:36:37] ethash ASIC is basically a glorified memory controller
[08:36:39] sech1: tevador said something more is coming (he just did it again)
[08:37:03] yes, some parts of RandomX are not described well
[08:37:10] like dataset access logic
[08:37:37] RandomX looks like progpow for CPU
[08:37:54] yes
[08:38:03] it is designed to reflect CPU
[08:38:34] so any ASIC for it = CPU in essence
[08:39:04] of course there are still some things in regular CPU that can be thrown away for RandomX
[08:40:20] uncore parts are not used, but those will use very little power
[08:40:37] except for memory controller
[08:41:09] I'm just surprised sometimes, ok? let me ask: have you designed or taped out an asic before? isn't it risky to make assumptions about things that are largely unknown?
[08:41:23] I would worry
[08:41:31] that I get something wrong...
[08:41:44] but I also worry like crazy that CNv4 will blow up, where you guys seem to be relaxed
[08:42:06] I didn't want to bring up anything RandomX because CNv4 is such a nailbiter... :)
[08:42:15] how do you guys know you don't have asics in a week or two?
[08:42:38] we don't have experience with ASIC design, but RandomX is simply designed to exactly fit CPU capabilities, which is the best you can do anyways
[08:43:09] similar as ProgPoW did with GPUs
[08:43:14] some people say they want to do asic-resistance only until the vast majority of coins has been issued
[08:43:21] that's at least reasonable
[08:43:43] yeah but progpow totally will not work as advertised :)
[08:44:08] yeah, I've seen that comment about progpow a few times already
[08:44:11] which is no surprise if you know it's just a random sales story to sell a few more GPUs
[08:44:13] RandomX is not permanent, we are expecting to switch to ASIC friendly in a few years if possible
[08:44:18] yes
[08:44:21] that makes sense
[08:44:40] linzhi-sonia: how so? will it break or will it be asic-able with decent performance gains?
[08:44:41] are you happy with CNv4 so far?
[08:45:10] ah, long story. progpow is a masterpiece of deception, let's not get into it here.
[08:45:21] if you know chip marketing it makes more sense
[08:45:24] linzhi-sonia: So far? lol! a bit early to tell, don't you think?
[08:45:35] the diff is coming down
[08:45:41] first few hours looked scary
[08:45:43] I remain skeptical: I only see ASICs being reasonable if they are already as ubiquitous as smartphones
[08:45:46] yes, so far so good
[08:46:01] we kbew the diff would not come down ubtil affter block 75
[08:46:10] yes
[08:46:22] but first few hours it looks like only 5% hashrate left
[08:46:27] looked
[08:46:29] now it's better
[08:46:51] the next worry is: when will "unexplainable" hashrate come back?
[08:47:00] you hope 2-3 months? more?
[08:47:05] so give it another couple of days. will probably overshoot to the downside, and then rise a bit as miners get updated and return
[08:47:22] 3 months minimum turnaround, yes
[08:47:28] nah
[08:47:36] don't underestimate asicmakers :)
[08:47:54] you guys don't get #1 priority on chip fabs
[08:47:56] 3 months = 90 days. do you know what is happening in those 90 days exactly? I'm pretty sure you don't. same thing as before.
[08:48:13] we don't do any secret chips btw
[08:48:21] 3 months assumes they had a complete design ready to go, and added the last minute change in 1 day
[08:48:24] do you know who is behind the hashrate that is now bricked?
[08:48:27] innosilicon?
[08:48:34] hyc: no no, and no. :)
[08:48:44] hyc: have you designed or taped out a chip before?
[08:48:51] yes, many years ago
[08:49:10] then you should know that 90 days is not a fixed number
[08:49:35] sure, but like I said, other makers have greater demand
[08:49:35] especially not if you can prepare, if you just have to modify something, or you have more programmability in the chip than some people assume
[08:50:07] we are chipmakers, we would never dare to do what you guys are doing with CNv4 :) but maybe that just means you are cooler!
[08:50:07] and yes, programmability makes some aspect of turnaround easier
[08:50:10] all fine
[08:50:10] I hope it works!
[08:50:28] do you know who is behind the hashrate that is now bricked?
[08:50:29] inno?
[08:50:41] we suspect so, but have no evidence
[08:50:44] maybe we can try to find them, but we cannot spend too much time on this
[08:50:53] it's probably not so much of a secret
[08:51:01] why should it be, right?
[08:51:10] devs want this cat-and-mouse game? devs get it...
[08:51:35] there was one leak saying it's innosilicon
[08:51:36] so you think 3 months, ok
[08:51:43] inno is cool
[08:51:46] good team
[08:51:49] IP design house
[08:51:54] in Wuhan
[08:52:06] they send their people to conferences with fake biz cards :)
[08:52:19] pretending to be other companies?
[08:52:26] sure
[08:52:28] ha ha
[08:52:39] so when we see them, we look at whatever card they carry and laugh :)
[08:52:52] they are perfectly suited for secret mining games
[08:52:59] they made at most $6 million in 2 months of mining, so I wonder if it was worth it
[08:53:10] yeah. no way to know
[08:53:15] but it's good that you calculate!
[08:53:24] this is all about cost/benefit
[08:53:25] then you also understand - imagine the value of XMR goes up 5x, 10x
[08:53:34] that whole "asic resistance" thing will come down like a house of cards
[08:53:41] I would imagine they sell immediately
[08:53:53] the investor may fully understand the risk
[08:53:57] the buyer
[08:54:13] it's not healthy, but that's another discussion
[08:54:23] so mid-June
[08:54:27] let's see
[08:54:49] I would be susprised if CNv4 ASICs show up at all
[08:54:56] surprised*
[08:54:56] why?
[08:55:05] is only an economic question
[08:55:12] yeah should be interesting. FPGAs will be near their limits as well
[08:55:16] unless XMR goes up a lot
[08:55:19] no, not *only*. it's also a technology question
[08:55:44] you believe CNv4 is "asic resistant"? which feature?
[08:55:53] it's not
[08:55:59] cnv4 = Rabdomx ?
[08:56:03] no
[08:56:07] cnv4=cryptinight/r
[08:56:11] ah
[08:56:18] CNv4 is the one we have now, I think
[08:56:21] since yesterday
[08:56:30] it's plenty enough resistant for current XMR price
[08:56:45] that may be, yes!
[08:56:55] I look at daily payouts. XMR = ca. 100k USD / day
[08:57:03] it can hold until October, but it's not asic resistant
[08:57:23] well, last 24h only 22,442 USD :)
[08:57:32] I think 80 h/s per watt ASICs are possible for CNv4
[08:57:38] linzhi-sonia where do you produce your chips? TSMC?
[08:57:44] I'm cruious how you would expect to build a randomX ASIC that outperforms ARM cores for efficiency, or Intel cores for raw speed
[08:57:48] curious
[08:58:01] yes, tsmc
[08:58:21] Our team did the world's first bitcoin asic, Avalon
[08:58:25] and upcoming 2nd gen Ryzens (64-core EPYC) will be a blast at RandomX
[08:58:28] designed and manufactured
[08:58:53] still being marketed?
[08:59:03] linzhi-sonia: do you understand what xmr wants to achieve, community-wise?
[08:59:14] Avalon? as part of Canaan Creative, yes I think so.
[08:59:25] there's not much interesting oing on in SHA256
[08:59:29] Inge-: I would think so, but please speak
[08:59:32] hyc: yes
[09:00:28] linzhi-sonia: i am curious to hear your thoughts. I am fairly new to this space myself...
[09:00:51] oh
[09:00:56] we are grandpas, and grandmas
[09:01:36] yet I have no problem understanding why ASICS are currently reviled.
[09:01:48] xmr's main differentiators to, let's say btc, are anonymity and fungibility
[09:01:58] I find the client terribly slow btw
[09:02:21] and I think the asic-forking since last may is wrong, doesn't create value and doesn't help with the project objectives
[09:02:25] which "the client" ?
[09:02:52] Monero GUI client maybe
[09:03:12] MacOS, yes
[09:03:28] What exactly is slow?
[09:03:30] linzhi-sonia: I run my own node, and use the CLI and Monerujo. Have not had issues.
[09:03:49] staying in sync
[09:03:49] linzhi-sonia: decentralization is also a key principle
[09:03:56] one that Bitcoin has failed to maintain
[09:04:39] hmm
[09:05:00] looks fairly decentralized to me. decentralization is the result of 3 goals imo: resilient, trustless, permissionless
[09:05:28] don't ask a hardware maker about physical decentralization. that's too ideological. we focus on logical decentralization.
[09:06:11] physical decentralization is important. with bulk of bitnoin mining centered on Chinese hydroelectric dams
[09:06:19] have you thought about including block data in the PoW?
[09:06:41] yes, of course.
[09:07:39] is that already in an algo?
[09:08:10] hyc: about "centered on chinese hydro" - what is your source? the best paper I know is this: https://coinshares.co.uk/wp-content/uploads/2018/11/Mining-Whitepaper-Final.pdf
[09:09:01] linzhi-sonia: do you mine on your ASICs before you sell them?
[09:09:13] besides testing of course
[09:09:45] that paper puts Chinese btc miners at 60% max
[09:10:05] tevador: I think everybody learned that that is not healthy long-term!
[09:10:16] because it gives the chipmaker a cost advantage over its own customers
[09:10:33] and cost advantage leads to centralization (physical and logical)
[09:10:51] you guys should know who finances progpow and why :)
[09:11:05] but let's not get into this, ha ha. want to keep the channel civilized. right OhGodAGirl ? :)
[09:11:34] tevador: so the answer is no! 100% and definitely no
[09:11:54] that "self-mining" disease was one of the problems we have now with asics, and their bad reputation (rightfully so)
[09:13:08] I plan to write a nice short 2-page paper or so on our chip design process. maybe it's interesting to some people here.
[09:13:15] basically the 5 steps I mentioned before, from math to physical
[09:13:32] linzhi-sonia: the paper you linked puts 48% of bitcoin mining in Sichuan. the total in China is much more than 60%
[09:13:38] need to run it by a few people to fix bugs, will post it here when published
[09:14:06] hyc: ok! I am just sharing the "best" document I know today. it definitely may be wrong and there may be a better one now.
[09:14:18] hyc: if you see some reports, please share
[09:14:51] hey I am really curious about this: where is a PoW algo that puts block data into the PoW?
[09:15:02] the previous paper I read is from here http://hackingdistributed.com/2018/01/15/decentralization-bitcoin-ethereum/
[09:15:38] hyc: you said that already exists? (block data in PoW)
[09:15:45] it would make verification harder
[09:15:49] linzhi-sonia: https://the-eye.eu/public/Books/campdivision.com/PDF/Computers%20General/Privacy/bitcoin/meh/hashimoto.pdf
[09:15:51] but for chips it would be interesting
[09:15:52] we discussed the possibility about a year ago https://www.reddit.com/Monero/comments/8bshrx/what_we_need_to_know_about_proof_of_work_pow/
[09:16:05] oh good links! thanks! need to read...
[09:16:06] I think that paper by dryja was original
[09:17:53] since we have a nice flow - second question I'm very curious about: has anyone thought about in-protocol rewards for other functions?
[09:18:55] we've discussed micropayments for wallets to use remote nodes
[09:18:55] you know there is a lot of work in other coins about STARK provers, zero-knowledge, etc. many of those things very compute intense, or need to be outsourced to a service (zether). For chipmakers, in-protocol rewards create an economic incentive to accelerate those things.
[09:19:50] whenever there is an in-protocol reward, you may get the power of ASICs doing something you actually want to happen
[09:19:52] it would be nice if there was some economic reward for running a fullnode, but no one has come up with much more than that afaik
[09:19:54] instead of fighting them off
[09:20:29] you need to use asics, not fight them. that's an obvious thing to say for an asicmaker...
[09:20:41] in-protocol rewards can be very powerful
[09:20:50] like I said before - unless the ASICs are so useful they're embedded in every smartphone, I dont see them being a positive for decentralization
[09:21:17] if they're a separate product, the average consumer is not going to buy them
[09:21:20] now I was talking about speedup of verifying, signing, proving, etc.
[09:21:23] they won't even know what they are
[09:22:07] if anybody wants to talk about or design in-protocol rewards, please come talk to us
[09:22:08] the average consumer also doesn't use general purpose hardware to secure blockchains either
[09:22:14] not just for PoW, in fact *NOT* for PoW
[09:22:32] it requires sw/hw co-design
[09:23:10] we are in long-term discussions/collaboration over this with Ethereum, Bitcoin Cash. just talk right now.
[09:23:16] this was recently published though suggesting more uptake though I guess https://btcmanager.com/college-students-are-the-second-biggest-miners-of-cryptocurrency/
[09:23:29] I find it pretty hard to believe their numbers
[09:24:03] well
[09:24:09] sorry, original article: https://www.pcmag.com/news/366952/college-kids-are-using-campus-electricity-to-mine-crypto
[09:24:11] just talk, no? rumors
[09:24:18] college students are already more educated than the average consumer
[09:24:29] we are not seeing many such customers anymore
[09:24:30] it's data from cisco monitoring network traffic
[09:24:33] and they're always looking for free money
[09:24:48] of course anyone with "free" electricity is inclined to do it
[09:24:57] but look at the rates, cannot make much money
[09:26:06] Ethereum is a bloated collection of bugs wrapped in a UI. I suppose they need all the help they can get
[09:26:29] Bitcoin Cash ... just another get rich quick scheme
[09:26:38] hmm :)
[09:26:51] I'll give it back to you, ok? ha ha. arrogance comes before the fall...
[09:27:17] maye we should have a little fun with CNv4 mining :)
[09:27:25] ;)
[09:27:38] come on. anyone who has watched their track record... $75M lost in ETH at DAO hack
[09:27:50] every smart contract that comes along is just waiting for another hack
[09:27:58] I just wanted to throw out the "in-protocol reward" thing, maybe someone sees the idea and wants to cowork. maybe not. maybe it's a stupid idea.
[09:29:18] linzhi-sonia: any thoughts on CN-GPU?
[09:29:55] CN-GPU has one positive aspect - it wastes chip area to implement all 18 hash algorithms
[09:30:19] you will always hear roughly the same feedback from me:
[09:30:52] "This algorithm very different, it heavy use floating point operations to hurt FPGAs and general purpose CPUs"
[09:30:56] the problem is, if it's profitable for people to buy ASIC miners and mine, it's always more profitable for the manufacturer to not sell and mine themselves
[09:31:02] "hurt"
[09:31:07] what is the point of this?
[09:31:15] it totally doesn't work
[09:31:24] you are hurting noone, just demonstrating lack of ability to think
[09:31:41] what is better: algo designed for chip, or chip designed for algo?
[09:31:43] fireice does it on daily basis, CN-GPU is a joke
[09:31:53] tevador: that's not really true, especially in a market with such large price fluctuations as cryptocurrency
[09:32:12] it's far less risky to sell miners than mine with them and pray that price doesn't crash for next six months
[09:32:14] I think it's great that crypto has a nice group of asicmakers now, hw & sw will cowork well
[09:32:36] jwinterm yes, that's why they premine them and sell after
[09:32:41] PoW is about being thermodynamically and cryptographically provable
[09:32:45] premining with them is taking on that risk
[09:32:49] not "fork when we think there are asics"
[09:32:51] business is about risk minimization
[09:32:54] that's just fear-driven
[09:33:05] Inge-: that's roughly the feedback
[09:33:24] I'm not saying it hasn't happened, but I think it's not so simple as saying "it always happens"
[09:34:00] jwinterm: it has certainly happened on BTC. and also on XMR.
[09:34:19] ironically, please think about it: these kinds of algos indeed prove the limits of the chips they were designed for. but they don't prove that you cannot implement the same algo differently! cannot!
[09:34:26] Risk minimization is not starting a business at all.
[09:34:34] proof-of-gpu-limit. proof-of-cpu-limit.
[09:34:37] imagine you have a money printing machine, would you sell it?
[09:34:39] proves nothing for an ASIC :)
[09:35:05] linzhi-sonia: thanks. I dont think anyone believes you can't make a more efficient cn-gpu asic than a gpu - but that it would not be orders of magnitude faster...
[09:35:24] ok
[09:35:44] like I say. these algos are, that's really ironic, designed to prove the limitatios of a particular chip in mind of the designer
[09:35:50] exactly the wrong way round :)
[09:36:16] like the cache size in RandomX :)
[09:36:18] beautiful
[09:36:29] someone looked at GPU designs
[09:37:31] linzhi-sonia can you elaborate? Cache size in RandomX was selected to fit CPU cache
[09:37:52] yes
[09:38:03] too large for GPU
[09:38:11] as I said, we are designing the algorithm to exactly fit CPU capabilities, I do not claim an ASIC cannot be more efficient
[09:38:16] ok!
[09:38:29] when will you do the audit?
[09:38:35] will the results be published in a document or so?
[09:38:37] I claim that single-chip ASIC is not viable, though
[09:39:06] you guys are brave, noone disputes that. 3 anti-asic hardforks now!
[09:39:18] 4th one coming
[09:39:31] 3 forks were done not only for this
[09:39:38] they had scheduled updates in the first place
[09:48:10] Monero is the #1 anti-asic fighter
[09:48:25] Monero is #1 for a lot of reasons ;)
[09:48:40] It's the coin with the most hycs.
[09:48:55] mooooo
[09:59:06] sneaky integer overflow, bug squished
[10:38:00] p0nziph0ne ([email protected]/vpn/privateinternetaccess/p0nziph0ne) has joined #monero-pow
[11:10:53] The convo here is wild
[11:12:29] it's like geo-politics at the intersection of software and hardware manufacturing for thermoeconomic value.
[11:13:05] ..and on a Sunday.
[11:15:43] midipoet: hw and sw should work together and stop silly games to devalue each other. to outsiders this is totally not attractive.
[11:16:07] I appreciate the positive energy here to try to listen, learn, understand.
[11:16:10] that's a start
[11:16:48] <-- p0nziph0ne ([email protected]/vpn/privateinternetaccess/p0nziph0ne) has quit (Quit: Leaving)
[11:16:54] we won't do silly mining against xmr "community" wishes, but not because we couldn'd do it, but because it's the wrong direction in the long run, for both sides
[11:18:57] linzhi-sonia: I agree to some extent. Though, in reality, there will always be divergence between social worlds. Not every body has the same vision of the future. Reaching societal consensus on reality tomorrow is not always easy
[11:20:25] absolutely. especially at a time when there is so much profit to be made from divisiveness.
[11:20:37] someone will want to make that profit, for sure
[11:24:32] Yes. Money distorts.
[11:24:47] Or wealth...one of the two
[11:26:35] Too much physical money will distort rays of light passing close to it indeed.
submitted by jwinterm to Monero [link] [comments]

BITCOIN MINING ATTACK! Shadow Mining, Chain Reorg, Difficulty and 51% Attack - Programmer explains Quick Bitcoin Mining Explanation RHY矿场(RHY mine Bitcoin mining)One of the world's largest mines How Does Bitcoin Mining Work? Bitcoin Mining - What do they use?

BLOG – Inside a Bitcoin Mining Operation in Hong Kong Bitcoin , everyone’s favourite decentralised, peer-to-peer digital cryptocurrency, is making headlines around the world. Entrepreneur and journalist Xiaogang Cao posted pictures of a new HK-based mining operation being set up in an Kwai Chung industrial building… All bitcoin enthusiasts are celebrating because we have overtaken $ 10,000 after a long time. On April 3, 2019 the Secretary for Financial Services and the Treasury, Mr James Lau answered a set of questions by legislator Wu Chi-wai (Democratic Party, Kowloon East constituency).. While without surprises, the answer contains some interesting details that confirm our assessment of current Bitcoin regulation and taxation in Hong Kong. A scam involving bitcoin in Hong Kong has robbed investors of HK$3 billion (US$387 million), according to the South China Morning Post. MyCoin.hk, a small local bitcoin exchange, suddenly closed Mining Bitcoin Cash for Fun and to Promote the New Trading Center. The Hong Kong miner then goes on to explain that he and “most of his friends” have already switched back to the BTC main

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BITCOIN MINING ATTACK! Shadow Mining, Chain Reorg, Difficulty and 51% Attack - Programmer explains

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