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Risks and advantages of fiat money over gold and cryptocurrencies

Why do people seem to trust fiat currencies so much, despite being nothing but pieces of paper? Because state authorities guarantee that his paper is real money that you can store, exchange, or use to pay for goods and services.
We believe that it's nothing but a force of habit. It's been too long since the last crisis that would really devalue the currency of a major country.
Of course, we remember that inflation in Germany reached millions of percent after the First World War — but this happened long ago. Of course, we know that the currency of Zimbabwe was recently devalued by a factor of millions – but it's a state that’s been ruled by a dictator until recently. And yes, we see that Venezuela – another authoritarian state – is going through hyperinflation right now. But all this happened or is happening in autocratic countries and can't possibly happen in a civilized state – this is the mantra that we repeat to ourselves.
A short historical overview
Fiat paper money has only emerged recently. For thousands of years, people used all kinds of items and goods as a means of payment – cowrie shells, gold, copper, bronze, spices, and so on. If at some point, a certain item became too plentiful, its price would fall, and you could therefore get fewer other goods in exchange for it – and vice versa.
With time, people realized that paying in cowrie shells, metal bars, or something that could go bad or moldy was too complicated and costly.
As with many other issues, it was the ancient Romans who decided to solve the problem once and for all. Every new emperor or dictator made sure to mint coins with their face on them. If there wasn't enough fresh metal available, he would just take coins minted by his predecessor, melt them and make new ones.
It's from that point onward that we can track the key problem of fiat money – its constant devaluation.
For instance, in early 1st century AD, Romans used denarius – a coin made of pure silver. Just 40 years later, during the reign of Nero, a denarius contained only 94% of silver – and by the end of the century, its silver content fell to 85%.
What was the reason? Nero and his successors used this trick to pay less to their creditors. In 2nd century AD, there was less than 50% of silver left in a denarius. In 243, Emperor Philip the Arab reduced the silver content to just 0.05%. After the fall of the Roman Empire in the West, a denarius contained only 0.02% of silver.
This way, over the course of roughly 200 years, the inflation of denarii reached several thousand percent. But if we study more recent examples – say, the real value of the US dollar or pound of sterling in the last 200 years – we'll see a similar picture.
A forecast for the future
Let's go back to the question we asked in the beginning of this article. Why do people trust fiat money?
In the past 70 years, we haven't seen any major wars involving developed countries that could radically devalue their currencies. There haven't been any major natural disasters that could seriously damage the economy, either. Sure, such things keep happening in third-world countries, where currencies lose their value due to military coups, uncontrolled printing of new money, and so on.
If you ask the population in those third-world countries that have been through hyperinflation how they feel about their fiat money, you'll find that their opinion is just the opposite of that shared by people in the West.
That's why gold and jewelry are so popular in the Middle East, and that's why US dollars are in such demand in Latin America. Nobody wants to keep their savings in the local fiat currency – because its long-term stability cannot be guaranteed.
Gold is a great way to store value, especially when fiat currency is devalued rapidly for no reason.
Here's a simple example. Let's take country Z with a stable economy and equally stable fiat currency. Bob keeps his savings in a deposit account and earns a 5% annual interest. Alice uses her fiat savings to buy physical gold and then either buries it in her garden or stores it in a bank vault.
A disaster strikes: a military coup, volcano eruption, flood – you name it. The fiat currency of Z loses most of its value in an instant. And if the government decides to print more money (to pay for disaster relief or as a populist measure), inflation can quickly reach astronomical heights.
Bob's savings will be worth nothing – but Alice won't lose anything. If local fiat money is devalued by a factor of 100 relative to the US dollar, its exchange rate relative to gold will fall by a similar amount.
Any educated person can understand this – but why are so few people actually buying gold to protect their savings? And why do the majority of people take their money to the bank, even though generations after generations have lost their bank deposits?
There is only one issue with storing value in gold: buying it is complicated, costly, and sometimes dangerous. Here we'll cite just a few examples, although we could provide many more:
- In many countries you have to pay a fixed tax or VAT when buying gold, ranging from 10% to 25%. This means you'll lose up to a quarter of your money at once. Not such a great investment, is it?
- The spread between the buying and selling price of gold often reaches 10%;
- Storing gold at home is risky; storing it in a bank vault means paying a fee and can still be dangerous;
- In case of a military coup of natural disaster, if you need to exchange your gold for money, you can easily get killed. Modern-day Caracas is a good example: people are attacked even when they are suspected of carrying around as little as $100.
Cryptocurrency to the rescue
In the context of the issues described above, cryptocurrencies are a god-send for people in third-world countries. Crypto helps preserve the value of money and hide it in case of a crisis.
The demand for Bitcoin among the middle class in Africa and Asia is several times higher than in Europe. Why do people prefer Bitcoin and show much less interest in other altcoins? Because the maximum number of Bitcoins is finite. Whatever happens in the world of fiat currencies, even if governments print dozens and hundreds of times more money, new Bitcoins will only enter the market through mining – and over 80% of the total have already been mined.
Bitcoin doesn't belong to anyone. There is no organization or country that can control it. In the 10 years that have passed since its launch, nobody has managed to hack the system – while even the leading IT corporations regularly fall victim to hacker attacks.
The only real problem is that most holders of fiat money and gold bars find it’s hard to accept Bitcoin's volatility. Indeed, if the BTC price has grown by a factor of 100 or 1000, it could theoretically fall by just as much, completely devaluing one's investment. Who would take such a risk?
If only one could invest in digital gold that can't lose its value relative to fiat currencies and free from the risks and complexities of purchasing, storing and selling it that are inherent to physical gold.
The future is already here
DIGITAL GOLD is a company that has found a solution to the challenge of money storage. In summer 2019, it launched a new stablecoin which serves the purpose of Digital Gold.
Now, investors seeking to protect their savings won't have to deal with the costs and dangers of buying physical gold. It's enough to purchase GOLD stablecoins, built on the popular ERC-20 standard. In less than a minute, any person anywhere on the globe can buy $10, $100, or $1000 worth of new digital gold.
The tokens will be instantly sent to the buyer's wallet, and the only transaction fee will be the cost of gas. The risk factor is also low, granted that the greatest loss would be losing one's wallet credentials. Exchanging the digital gold back into fiat or another cryptocurrency takes just a minute as well, alongside the gas cost (usually a few cents).
Why do we call GOLD stablecoins, digital gold? Because DIGITAL GOLD has pegged it directly to the price of gold at the ratio of 1 token = 1 gram of 99.99% gold.
The new stablecoin features several key differences from previous projects that claimed to have gold-pegged tokens:
GOLD stablecoins are a highly innovative instrument that is sure to attract different groups of investors. Those who have always wanted to buy gold but didn't because of the high costs and risks can now invest in gold within a few clicks.
Yet another factor that can prove crucial in developing markets is full anonymity. By contrast, it's impossible to maintain one's privacy when buying, transporting, and storing physical gold.
These and other advantages are bound to make GOLD a preferred investment asset of the future – and each of us can join this future right now.


Website : https://gold.storage/
Whitepaper: https://gold.storage/wp.pdf
Follow us on social media:
Twitter: https://twitter.com/gold_erc20
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Gold and USDT: What 2019 Has Brought

Gold and USDT: What 2019 Has Brought
2019 is ending on a positive note. From a financial standpoint, everything that could have grown has done so: stocks, commodities, precious metals, futures, and all sorts of risky assets. Even Bitcoin, in spite of the negative results in the last six months of the year, has shown an overall growth of over 120%.

https://preview.redd.it/poejx6fh7j841.jpg?width=1500&format=pjpg&auto=webp&s=d8145b910689120f00ab77f4180ceb529694d249
But what about gold? The price of the precious metal has increased by 18% this year. Such an aspect is particularly interesting, granted that the US stock market has been growing for 10 years straight (this hasn’t happened for a long time). Gold is considered a hedging asset, and it usually sees an influx of capitals when the stock market goes through a downturn. Why? That's easy: in times of crisis, investors sell their stocks and are left with lots of cash on their hands – and nowhere to invest that cash. The most logical way to get rid of this money is to purchase gold, thus leading to an increase in demand.
This is all theory, however. The markets keep changing all the time. Just think of the current situation. In the past 10 years, while the US stock market kept on growing inexorably, the price of gold doubled. More so, it has increased fivefold since the start of the new century, or in the past 19 years. These aspects point to a new trend: gold seems to grow faster and faster – even when there's no crisis in sight.
Why is this happening? Well, there is more and more free money in the world – and less and less free market niches with low competition. Market players are unwilling to invest in highly competitive markets, given the low profit potential. At the same time, the worldwide middle class is actively expanding, especially in Asia. By contrast, the amount of gold isn't really growing. Sure, it's being mined (though the amount extracted every year is rather low). At the same time, some of it exits circulation forever – as it is either lost or utilized in specific industries. A larger amount of gold settles down in vaults belonging to central banks, in private safe boxes, or on the necks, hands, and ears of Indian buyers :). This should explain the constant growth of the gold price, since the demand outstrips the supply. What about USDT? Investors who chose to store their capital in this digital currency have become 18% poorer in the gold equivalent. As such, many people wonder what will happen in 2020. Will the price of GOLD keep growing? Nobody knows, and market forecasts are often wrong.
As such, it is best to try and reason logically. 2020 will be marked by a further easing of the monetary policy in several leading countries. The US, EU, and Japan will keep on printing money, with smaller economies following suit. Moreover, the Federal Reserve may lower the interest rates again. These aspects will likely generate even more free and unbacked money in the economy.
If the long-awaited global recession finally begins (pessimists have been expecting it since 2009), central banks will print massive amounts of money to try and extinguish the fast-spreading fire.
What will this mean for the price of gold? Will it fall by 20% or grow by 20%? We would bet on the latter. As such, this means that USDT investors will once again lose 20% of their capital in gold equivalent.
So what should you do? The answer is simple: buy GOLD tokens, since they are 100% pegged to the price of gold. Buy – and then watch as those who have invested in fiat-pegged stablecoins lose more and more of their capital to inflation.
Website : https://gold.storage/ Whitepaper: https://gold.storage/wp.pdf
Follow us on social media: Twitter: https://twitter.com/gold_erc20 Telegram: https://t.me/digitalgoldcoin Steemit: https://steemit.com/@digitalgoldcoin Reddit: https://www.reddit.com/golderc20/ Bitcointalk: https://bitcointalk.org/index.php?topic=5161544
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Era Swap Network White Paper

Era Swap Network White Paper

Era Swap Network

White Paper



DISCLAIMER
This Whitepaper is for Era Swap Network. Its purpose is solely to provide prospective community members with information about the Era Swap Ecosystem & Era Swap Network project. This paper is for information purposes only and does not constitute and is not intended to be an offer of securities or any other financial or investment instrument in any jurisdiction.
The Developers disclaim any and all responsibility and liability to any person for any loss or damage whatsoever arising directly or indirectly from (1) reliance on any information contained in this paper, (2) any error, omission or inaccuracy in any such information, or (3) any action resulting therefrom
Digital Assets are extremely high-risk, speculative products. You should be aware of the risks involved and fully consider before participating in Digital assets whether it’s appropriate for you. You should only participate if you are an experienced investor with sophisticated knowledge of financial markets and you fully understand the risks associated with digital assets. We strongly advise you to take independent professional advice before making any investment or participating in any way. You should check what rules and protections apply to your respective jurisdictions before investing or participating in any way. The Creators & community will not compensate you for any losses from trading, investment or participating in any way. You should read whitepaper carefully before participating and consider whether these products are right for you.

TABLE OF CONTENT

· Abstract
· Introduction to Era Swap Network
· Development Overview
· Era Swap Utility Platform
· Alpha-release Development Plan
· Era Swap Network Version 1: Specification
· Bunch Structure: 10
· Converting ES-ERC20 to ES-Na:
· Conclusion:
· Era Swap Ecosystem
· Social Links

Abstract

The early smart contracts of Era Swap Ecosystem like TimeAlly, Newly Released Tokens, Assurance, BetDeEx of Era Swap Ecosystem, are deployed on Ethereum mainnet. These smart contracts are finance-oriented (DeFi), i.e. most of the transactions are about spending or earning of Era Swap tokens which made paying the gas fees in Ether somewhat intuitive to the user (withdrawal charges in bank, paying tax while purchasing burgers) but transactions that are not token oriented like adding a nominee or appointee voting also needs Ether to be charged. As more Era Swap Token Utility platform ideas kept appending to the Era Swap Main Whitepaper, more non-financial transaction situations arise like updating status, sending a message, resolving a dispute and so on. Paying extensively for such actions all day and waiting for the transaction to be included in a block and then waiting for enough block confirmations due to potential chain re-organizations is counter-intuitive to existing free solutions like Facebook, Gmail. This is the main barrier that is stopping Web 3.0 from coming to the mainstream.
As alternatives to Ethereum, there are few other smart contract development platforms that propose their own separate blockchain that features for higher transaction throughput, but they compromise on decentralization for improving transaction speeds. Moreover, the ecosystem tools are most advancing in Ethereum than any other platform due to the massive developer community.
With Era Swap Network, the team aims to achieve scalability, speed and low-cost transactions for Era Swap Ecosystem (which is currently not feasible on Ethereum mainnet), without compromising much on trustless asset security for Era Swap Community users.

Introduction to Era Swap Network

Era Swap Network (ESN) aims to solve the above-mentioned problems faced by Era Swap Ecosystem users by building a side-blockchain on top of Ethereum blockchain using the Plasma Framework.
Era Swap Network leverages the Decentralisation and Security of Ethereum and the Scalability achieved in the side-chain, this solves the distributed blockchain trilema. In most of the other blockchains, blocks are a collection of transactions and all the transactions in one block are mined by a miner in one step. Era Swap Network will consist of Bunches of Blocks of Era Swap Ecosystem Transactions.

Decentralization

Layer 2


Scalable and Secure

A miner mines all the blocks in a bunch consequently and will commit the bunch-root to the ESN Plasma Smart Contract on Ethereum mainnet.

Development Overview
Initially, we will start with a simple Proof-of-Authority (PoA) based consensus of EVM to start the development and testing of Era Swap Ecosystem Smart Contracts as quickly as possible on the test-net. We will call this as an alpha-release of ESN test-net and only internal developers will work with this for developing smart contracts for Era Swap Ecosystem. User’s funds in a Plasma implementation with a simple consensus like PoA are still secured as already committed bunch-roots cannot be reversed.
Eventually, we want to arrive on a more control-decentralized consensus algorithm like Proof-of-Stake (PoS) probably, so that even if the chain operator shuts down their services, a single Era Swap Ecosystem user somewhere in the world can keep the ecosystem alive by running software on their system and similarly more people can join to decentralize the control further. In this PoS version, we will modify the Parity Ethereum client in such a way, that at least 50% of transaction fees collected will go to the Luck Pool of NRT Smart Contract on Ethereum mainnet and rest can be kept by miner of the blocks/bunch of blocks if they wish. After achieving such an implementation, we will release this as a beta version to the community for testing the software on their computers with Kovan ERC20 Era Swaps (Ethereum test-net).

Era Swap Decentralised Ecosystem
Following platforms are to be integrated:
  1. Era Swap Token Contract (adapted ERC20 on Ethereum) The original asset will lie on Ethereum to avoid loss due to any kind of failure in ESN.
  2. Plasma Manager Contract (on Ethereum) To store ESN bunch headers on Ethereum.
  3. Reverse Plasma Manager Contract (on ESN) Bridge to convert ES to ES native and ES native to ES. User deposits ES on Mainnet Plasma, gives proof on ESN and gets ES native credited to their account in a decentralised way.
  4. NRT Manager Contract (on Ethereum or on ESN) If it is possible to send ES from an ESN contract to luck pool of NRT Manager Contract on Ethereum, then it’s ok otherwise, NRT Manager will need to be deployed on ESN for ability to add ES to luck pool.
  5. Era Swap Wallet (React Native App for managing ESs and ES natives) Secure wallet to store multiple private keys in it, mainly for managing ES and ES native, sending ES or ES native, also for quick and easy BuzCafe payments.
  6. TimeAlly (on Ethereum or on ESN) On whichever chain NRT Manager is deployed, TimeAlly would be deployed on the same chain.
  7. Assurance (on Ethereum or on ESN) On whichever chain NRT Manager is deployed, TimeAlly would be deployed on the same chain.
  8. DaySwappers (on ESN) KYC manager for platform. For easily distributing rewards to tree referees.
  9. TimeSwappers (on ESN) Freelance market place with decentralised dispute management.
  10. SwappersWall (on ESN) Decentralised social networking with power tokens.
  11. BuzCafe (on ESN) Listing of shops and finding shops easily and quick payment.
  12. BetDeEx (on ESN) Decentralised Prediction proposals, prediction and results.
  13. DateSwappers (on ESN) Meeting ensured using cryptography.
  14. ComputeEx (on Ethereum / centralised way) Exchange assets.
  15. Era Swap Academy (on ESN / centralised way) Learn. Loop. Leap. How to implement ES Academy is not clear. One idea is if content is constantly being modified, then subscription expired people will only have the hash of old content while new content hash is only available to people who have done Dayswapper KYC and paid for the course. Dayswapper KYC is required because this way people won’t share their private keys to someone else.
  16. Value of Farmers (tbd) The exchange of farming commodities produced by farmers in VoF can be deposited to warehouses where the depositors will get ERC721 equivalent tokens for their commodities (based on unique tagging).
  17. DeGameStation (on ESN) Decentralised Gaming Station. Games in which players take turns can be written in Smart Contract. Games like Chess, Poker, 3 Patti can be developed. Users can come to DeGameStation and join an open game or start a new game and wait for other players to join.

Alpha-release Development Plan
  1. Deploying Parity Node customized according to Era Swap Whitepaper with PoA consensus.
  2. Setting up Plasma Smart Contracts.
  3. Creating a bridge for ERC20 Swap from Ethereum test-net to ESN alpha test-net.

Alpha Version
Era Swap Network Version 1 : Specification
The Version 1 release of ESN plans to fulfill the requirements for political decentralisation and transparency in dApps of Era Swap Ecosystem using Blockchain Technology. After acquiring sufficient number of users, a version 2 construction of ESN will be feasible to enable administrative decentralization, such that the Era Swap Ecosystem will be run and managed by the Era Swap Community and will no longer require the operator to support for it's functioning.
Era Swap Network (ESN) Version 1 will be a separate EVM-compatible sidechain attached to Ethereum blockchain as it’s parent chain. ESN will achieve security through Plasma Framework along with Proof-of-Authority consensus for faster finality. The idea behind plasma framework is to avoid high transaction fees and high transaction confirmation times on Ethereum mainnet by instead doing all the ecosystem transactions off-chain and only post a small information to an Ethereum Smart Contract which would represent hash of plenty of ecosystem transactions. Also, to feature movement of Era Swap Tokens from Ethereum blockchain to ESN using cryptographic proof, reverse plasma of Ethereum on ESN will be implemented.
Also, submitting hash of each ESN blocks to ESN Plasma Smart Contract on Ethereum would force ESN to have a block time equal to or more than Ethereum’s 15 second time as well as it would be very much costly for operator to post lot of hashes to an Ethereum Smart Contract. This is why, merkle root of hashes of bunch of blocks would instead be submitted to ESN Plasma Smart Contact on Ethereum.
Actors involved in the ESN:
  1. Block Producer Nodes Lesser the number of nodes, quicker is the block propagation between block producers which can help quick ecosystem transactions. We find that 7 block producers hosted on different could hosting companies and locations reduces the risk of single point of failure of Era Swap Ecosystem and facilitates 100% uptime of dApps. Block Producer Nodes will also be responsible to post the small information to the Blockchain.
  2. Block Listener Nodes Rest of the nodes will be Block Listeners which will sync new blocks produced by the block producer nodes. Plenty of public block listener nodes would be setup in various regions around the world for shorter ping time to the users of Era Swap Ecosystem. Users would submit their Era Swap Ecosystem transactions to one of these public nodes, which would relay them to rest of the Era Swap Network eventually to the block producer nodes which would finalize a new block including the user transaction.
  3. Bunch Committers This will be an instance in the block producers which will watch for new blocks confirmed on ESN and will calculate bunch merkle roots and will submit it to ESN Plasma Smart Contract. This instance will also post hash of new Ethereum blocks to ESN (after about 10 confirmations) for moving assets between both the blockchain.
  4. Users These will be integrating with dApps which would be connected to some public ESN nodes or they can install a block listner node themselves. They can sign and send transactions to the node which they are connected to and then that node will relay their transactions to block producer nodes who would finalise a block including their transaction.

Bunch Structure

A Bunch Structure in Smart Contract will consist of the following:
• Start Block Number: It is the number of first ESN block in the bunch.
• Bunch Depth: It is Merkle Tree depth of blocks in the bunch. For e.g. If bunch depth is 3, there would be 8 blocks in the bunch and if bunch depth is 10, there would be 1024 blocks in the bunch. Bunch depth of Bunches on ESN Plasma Contract is designed to be variable. During the initial phases of ESN, it would be high, for e.g. 15, to avoid ether expenditure and would be decreased in due course of time.
• Transactions Mega Root: This value is the merkle root of all the transaction roots in the bunch. This is used by Smart Contract to verify that a transaction was sent on the chain.
• Receipts Mega Root: This value is the merkle root of all the receipt roots in the bunch. This is used to verify that the transaction execution was successful.
• Timestamp: This value is the time when the bunch proposal was submitted to the smart contract. After submission, there is a challenge period before it is finalised.

Converting ES-ERC20 to ERC-NA and BACK

On Ethereum Blockchain, the first class cryptocurrency is ETH and rest other tokens managed by smart contracts are second class. On ESN, there is an advancement to have Era Swaps as the first class cryptocurrency. This cryptocurrency will feature better user experience and to differentiate it from the classic ERC20 Era Swaps, it will be called as Era Swap Natives (ES-Na). According to the Era Swap Whitepaper, maximum 9.1 Million ES will exist which will be slowly released in circulation every month.
Era Swaps will exist as ES-ERC20 as well as in form of ES-Na. One of these can be exchanged for the other at 1:1 ratio.
Following is how user will convert ES-ERC20 to ES-Na:
  1. User will give allowance to a Deposit Smart Contract, and following that call deposit method to deposit tokens to the contract.
  2. On transaction confirmation, user will paste the transaction hash on a portal which will generate a Proof of Deposit string for the user. This string is generated by fetching all the transactions in the Ethereum Block and generating a Transaction Patricia Merkle Proof to prove that user’s transaction was indeed included in the block and the Receipts Patricia Merkle Proof to confirm that the user’s transaction was successful.
  3. Using the same portal, user will submit the generated proofs to a Smart Contract on ESN, which would release funds to user. Though, user will have to wait for the Etheruem block roots to be posted to ESN after waiting for confirmations which would take about 3 minutes. Once, it’s done user’s proofs will be accepted and will receive exact amount of ES- Na on ESN.
Following is how user will convert ES-Na to ES-ERC20:
  1. ES-Na being first class cryptocurrency, user will simply send ES-Na to a contract.
  2. User will paste the transaction hash on a portal which will generate a Proof of Deposit for the user. Again ES-Na being first class cryptocurrency, Transaction Patricia Merkle Proof is enough to prove that user’s transaction was indeed included in the block. Another thing which will be generated is the block inclusion proof in the bunch.
  3. User will have to wait for the bunch confirmation to the Plasma Smart Contract and once it’s done, user can send the proof to the Plasma Smart Contract to receive ES-ERC20.

HARD Exit

Since the blocks are produced and transactions are validated by few block producers, it exposes a possibility for fraud by controlling the block producer nodes. Because ESN is based on the Plasma Model, when failure of sidechain occurs or the chain halts, users can hard exit their funds directly from the Plasma Smart Contract on Ethereum by giving a Proof of Holdings.

HOld ES Tokens Swapping with New ES Tokens

The old ES Tokens will be valueless as those tokens will not be accepted in ESN because of NRT (New Released Tokens) and TimeAlly contracts on mainnet which is causing high gas to users, hence reducing interactions. Also, there was an event of theft of Era Swap Tokens and after consensus from majority of holders of Era Swap Tokens; it was decided to create a new contract to reverse the theft to secure the value of Era Swap Tokens of the community. Below is the strategy for swapping tokens:
TimeAlly and TSGAP: Majority of Era Swap Community have participated in TimeAlly Smart Contract in which their tokens are locked for certain period of time until which they cannot move them. Such holders will automatically receive TimeAlly staking of specific durations from the operator during initialization of ESN.
Liquid Tokens: Holders of Liquid Era Swap Tokens have to transfer the old tokens to a specified Ethereum wallet address managed by team. Following that, team will audit the token source of the holder (to eliminate exchange of stolen tokens) and send new tokens back to the wallet address.

Post-Genesis Tokens Return Program

Primary asset holding of Era Swap tokens will exist on Ethereum blockchain as an ERC20 compatible standard due to the highly decentralised nature of the blockchain. Similar to how users deposit tokens to an cryptocurrency exchange for trading and then withdraw the tokens back, users will deposit tokens to ESN Contract to enter Era Swap Ecosystem and they can withdraw it back from ESN Contract for exiting from ecosystem network. The design of the token system will be such that, it will be compatible with the future shift (modification or migration of ESN version 1) to ESN version 2, in which an entirely new blockchain setup might be required.
To manage liquidity, following genesis structure will be followed:

Holder ES-ERC20 ES-Na
Team Wallet 1.17 billion (Circulating Supply) 0
Locked in Smart Contract 7.93 billion (pending NRT releases) 9.1 billion
Though it looks like there are 9.1 * 2 = 18.2 Billion ES, but the cryptographic design secures that at any point in time at least a total of 9.1 billion ES (ES-ERC20 + ES-Na) will be locked. To unlock ES-Na on ESN, an equal amount of ES-ERC20 has to be locked on Ethereum and vice-versa.
9.1 billion ES-ERC20 will be issued by ERC20 smart contract on Ethereum Blockchain, out of which the entire circulating supply (including liquid and TimeAlly holdings) of old ES will be received to a team wallet.
TimeAlly holdings of all users will be converted to ES-Na and distributed on ESN TimeAlly Smart Contract by team to the TimeAlly holders on their same wallet address.
Liquid user holdings will be sent back to the users to the wallet address from which they send back old ES tokens (because some old ES are deposited on exchange wallet address).
ES-Na will be issued in the genesis block to an ESN Manager Smart Contract address. It will manage all the deposits and withdrawals as well as NRT releases.

Attack Vectors


Following are identified risks to be taken care of during the development of ESN:
Network Spamming: Attackers can purchase ES from the exchange and make a lot of transactions between two accounts. This is solved by involving gas fees. A setting of 200 nanoES minimum gas price will be set, which can be changed as per convenience.
DDoS: Attackers can query public nodes for computationally heavy output data. This will overload the public node with requests and genuine requests might get delayed. Block producers RPC is private, so they will continue to produce blocks. To manage user’s denial of service, the provider in dApps needs to be designed in such a way such that many public nodes will be queried simple information (let’s say latest block number) and the one which response quickly to user will be selected.
AWS is down: To minimize this issue due to cloud providers down, there will be enough nodes on multiple cloud providers to ensure at least one block producer is alive.
User deposit double spending: User deposits ES on Ethereum, gets ES-Na on ESN. Then the issue happens that there are re-org on ETH mainnet and the user’s transaction is reversed. Since ETH is not a fixed chain and as per PoW 51% attack can change the blocks. As Ethereum is now enough mature and by statistics forked blocks are at most of height 2. So it is safe to consider 15 confirmations.
Exit Game while smooth functioning: User starts a hard exit directly from Plasma Smart Contract on Ethereum, then spends his funds from the plasma chain too. To counter this, the exit game will be disabled, only when ESN halts, i.e. fails to submit block header within the time the exit game starts. This is because it is difficult to mark user’s funds as spent on ESN.
Vulnerability in Ecosystem Smart Contracts: Using traditional methods to deploy smart contracts results in a situation where if a bug is found later, it is not possible to change the code. Using a proxy construction for every ecosystem smart contract solves this problem, and changing a proxy can be given to a small committee in which 66% of votes are required, this is to prevent a malicious change of code due to compromising of a single account or similar scenario.
ChainID replay attacks: Using old and traditional ways to interact with dApps can cause loss to users, hence every dApp will be audited for the same.

Conclusion

Era Swap Network is an EVM-compatible sidechain attached to the Ethereum blockchain through Plasma Framework. This allows off-chain processing of Era Swap Ecosystem transactions and posting only the hash of the bunch to Ethereum. This greatly reduces the high network fee and confirmation time issues faced by the current Era Swap Ecosystem DApps deployed on Ethereum. Also, having a separate EVM-compatible blockchain tailored to Era Swap Ecosystem improves the user experience to a higher extent. Since by design, Plasma Framework makes the Era Swap Network as secure as the Ethereum Network, user's funds on the network would be secure as well.
We believe Era Swap Network will help scale dApps of Era Swap Ecosystem to onboard the increasing numbers of users.


Era Swap Ecosystem
Era Swap Ecosystem consist of multiple interlinked platforms which is powered by Era swap (ES) token, a decentralized utility token to be used on below utility platforms. Users can access the Platforms through Era Swap Life which is the Single Sign on (SSO) gateway to the one world of Era Swap Ecosystem.
Era Swap Life: https://eraswap.life/
TimeAlly DApp -> Decentralized Token Vesting: https://www.timeally.io/
BetDeEx -> Decentralized prediction platform: https://www.betdeex.com/
Swappers Wall -> Social Time Ledgerise: https://timeswappers.com/swapperswall
TimeSwappers -> Global P2P marketplace: https://timeswappers.com/
BuzCafe -> Connects local P2P outlets: https://buzcafe.com/
DaySwappers -> Unique Affiliate Program: https://dayswappers.com/
Era Swap Academy -> E-mart for skill development: https://eraswap.academy/
Value of Farmers (VOF) -> Farming ecosystem: http://valueoffarmers.org/ coming soon
ComputeEx -> P2P lending and borrowing: https://computeex.net/ coming soon
DateSwappers -> Next gen dating: coming soon
Smart Contract address

Era Swap Token (ES)
https://etherscan.io/address/0xef1344bdf80bef3ff4428d8becec3eea4a2cf574#code

Newly Released Token (NRT) https://etherscan.io/address/0x20ee679d73559e4c4b5e3b3042b61be723828d6c#code

TimeAlly DApp
https://etherscan.io/address/0x5630ee5f247bd6b61991fbb2f117bbeb45990876#code

BetDeEx DApp https://etherscan.io/address/0x42225682113E6Ed3616B36B4A72BbaE376041D7c#code
TSGAP DApp
https://etherscan.io/address/0xbad9af4db5401b7d5e8177a18c1d69c35fc03fd3#code

White Paper
Era Swap Whitepaper: https://eraswaptoken.io/pdf/eraswap_whitepaper.pdf
Era Swap Light Paper: https://eraswaptoken.io/pdf/eraswap_lightpaper.pdf

Howey Test
Howey Test: https://eraswaptoken.io/era-swap-howey-test-letter-august7-2018.php

Era Swap SOCIAL LINKS
Telegram: https://t.me/eraswap
Twitter: https://twitter.com/eraswaptec
Facebook: https://www.facebook.com/eraswap/
Instagram: https://www.instagram.com/eraswap/
BitcoinTalk: https://bitcointalk.org/index.php?topic=5025979.msg45502457
Youtube: https://www.youtube.com/channel/UCGCP4f5DF1W6sbCjS6y3T1g
LinkedIn: https://www.linkedin.com/company/eraswap/
Reddit: https://www.reddit.com/useEraSwap
Medium: https://medium.com/@eraswap
Tumblr: https://eraswap.tumblr.com/
Mix: https://mix.com/eraswap
Pinterest: https://www.pinterest.com/eraswapt/
GitHub: https://github.com/KMPARDS/EraSwapSmartContracts
submitted by EraSwap to u/EraSwap [link] [comments]

A REVIEW OF TEMTUM PROJECT

INTRODUCTION
Hello my dear readers, I have come across another powerful blockchain cryptocurreny project that I want to introduce you to. The name of this wonderful project is TEMTUM. It's obvious that since the inception of the blockchain technology, a lot of crytocurrency projects have emerged offering to solve one problem or the other. Some fails and some delivers. TEMTUM is coming with the aim of redefining the blockchain technology.
WHAT IS TEMTUM?
TEMTUM a transparent рlаtfоrm thаt іѕ developed bаѕеd оn open ѕоurсе bу blосkсhаіn tесhnоlоgу еxреrtѕ and іt іѕ supported bу blосkсhаіn еnthuѕіаѕtѕ from аll over thе wоrld. TEMTUM іѕ a рrоfісіеnt, quantum-secure, ultrа-ԛuісk, non-asset еѕсаlаtеd аnd еаrth аgrееаblе рауmеnt соіn аnd аn орtіоn іn соntrаѕt tо customary fіаt mоnеу (government-printed currency).
THE VISION OF TEMTUM
It offers astounding open doors that have scarcely been tended to up until now. For cryptocurrency to flourish, the blockchain should now make the following stride in its advancement. What's more, here comes temtum into play. Temtum can guarantee a genuinely disseminated, decentralized and majority rule future for budgetary exchanges. It is a future that does not wreck nature. A future for all, any place they live on the planet, where the advantages of cryptographic forms of money are accessible and open to all. We have not just observed this positive future, we have planned, fabricated, tried and observed the innovation to be the best substitution medium.
What TEMTUM is Aiming to accomplish:
It gives shocking open entryways that have so far barely been tended to. For computerized types of cash to thrive, blockchain now needs to make the accompanying step in its advancement. Moreover, that is the spot Temtum comes in. Temtum can check a truly flowed, decentralized and greater part rule future for cash related trades. It is a future that does not pound the earth. A future for everyone, any place they live on the planet, in which the upsides of cryptographic types of cash are open and accessible for all. We have not recently watched this positive future, we have arranged the development, produced it, attempted it and mapped out how it will be completed as the best method of exchange.
Who is behind Temtum ?
Temtum was built up by Dragon Infosec CTO Richard Dennis, working with his overall gathering of cybersecurity and cryptography pros, Dr Gareth Owenson, Ginger Saltos and Cintya Aguirre. Together they set out to decide issues basic in dispersed frameworks, starting with Tor and Open Bazaar, finally Bitcoin, before structure up another advancement that can be used by and composed with standard portion frameworks for and by standard people. Richard took theoretical number juggling and academic research and shaped it into a blockchain advancement known as Temporal, guaranteed by Dragon Infosec and constantly approved to Temtum. Transient has been self-sufficiently attempted (BSI) and sent into a live working framework, giving the foundations for a snappy, secure, particularly versatile and biologically conscious portion coin — Temtum.
Five Benefits of Temtum projects
  1. Low-productive Energy — An remarkable understanding computation that does not require best in class figuring gear to confirm trades makes Temporal a greener blockchain plan.
  2. Lightweight Block Data — Information isn't required by center points to be secured locally unendingly on machines, making Temporal uncommonly beneficial and incredibly lightweight.
  3. Costless — Zero embedded trade costs on the framework, making Temtum a momentous advanced cash for high volume exchanges and trades.
  4. Fast — With block confirmation taking just 12 seconds, 5 blocks for every minute, TEM trades are close minute paying little mind to the entirety being sent.
  5. Secured — Temtum's system will have a top class security producing certainty crosswise over clients.
ROADMAP
To exhibit the specialized capacities of the temtum arrange – and what a small number of assets a hub is required to have so as to partake in the blockchain – we sent custom code on the head unit (HU) of a BMW i8 as a major aspect of a portability centered undertaking. This enabled the vehicle to work as a completely working hub, equipped for affirming exchanges as the vehicle was driven. The stacking of the code into the vehicle did not have any effect on its usefulness and had the option to keep running out of sight.
Despite the fact that the figuring power in the i8 is fundamentally not exactly customary PCs, it reliably showed the capacity to affirm 500 TPS. We accept this is a world-first where a vehicle has had the option to go about as a full hub without the necessity of extra equipment.
Two test vehicles, a BMW 220i, and the grandstand BMW i8 have been utilized during testing. As in the past improvement cycle, we didn't include any extra equipment and just the product on the iDrive frameworks were altered. We found that the BMW 220i, while an essentially less progressed as far as advanced frameworks than the i8, was as yet ready to completely take an interest and accomplish a similar degree of execution as a full hub (ready to store the Temporal Blockchain and affirm exchanges when required) as the lead i8.
Subsequent to showing that a section level BMW is completely equipped for partaking in the temtum organize as a hub, we likewise accomplished a work arrange between autos. This permitted the BMW 220i to have its own versatile system association incapacitated, leaving it without web get to and rather get information legitimately from the i8.
Getting information from the i8 to the 220i legitimately, where Temporal and all exchanges are additionally utilizing cryptography, would not present an assault vector. The capacity to speak with vehicles that don't have a functioning web association builds the open door for more seasoned autos to take an interest in the system, while expelling any portable information charges and lessening costs for system investment.
Sideloading our application into the current diversion arrangement of the more seasoned model BMW demonstrated no exhibition corruption to the driver. Testing is in progress to apply this hypothesis to more vehicle brands, including a 2018 Renault Megane, which will take into account direct cross-stage (for example from brand A to mark B) correspondence.
The greater part a-million BMW vehicles were enrolled in the UK from January 2014 to January 2017, with every vehicle more than fit for partaking in and supporting the temtum arrange. With system scale expanding assault costs, interest by means of existing versatility foundation could eventually verify temtum past levels seen with existing systems, without the requirement for costly vitality utilization.
Despite the fact that the natural effect of fuel-controlled vehicles is of some worry, utilizing innovation that is now being used and decreasing the weight of such systems as Bitcoin on global vitality assets is a positive move before increasingly manageable vehicles start taking an interest in the temtum arrange.
In the course of recent years, the Temporal Blockchain has been inquired about and created to the point we currently have a working item that is a development of the whole Blockchain innovation. Our guide returns in time, while sketching out the future for temtum.
For more information, visit any of these channels below:
WEBSITE : https://temtum.com/
WHITEPAPER : https://temtum.com/downloads/temtum-whitepaper.pdf
Message : https://t.me/temtumcommunity
Twitter : https://twitter.com/wearetemtum
Facebook : https://www.facebook.com/wearetemtum
Disunity : https://discord.gg/hs3v4g4
Reddit :/temtum
Medium : https://medium.com/temtum
Linkedin : https://www.linkedin.com/organization/temtum/
Youtube : https://www.youtube.com/channel/UCxEJq-piVp83Cm3yAOtQgkg
Github : https://github.com/temtum
AUTHOR'S DETAILS
BitcoinTalk Username: Degeneral002
BitcoinTalk URL: https://bitcointalk.org/index.php?action=profile;u=2160363;sa=summary
submitted by Agy4pee to ICOAnalysis [link] [comments]

A REVIEW OF TEMTUM PROJECT

INTRODUCTION
Hello my dear readers, I have come across another powerful blockchain cryptocurreny project that I want to introduce you to. The name of this wonderful project is TEMTUM. It's obvious that since the inception of the blockchain technology, a lot of crytocurrency projects have emerged offering to solve one problem or the other. Some fails and some delivers. TEMTUM is coming with the aim of redefining the blockchain technology.
WHAT IS TEMTUM?
TEMTUM a transparent рlаtfоrm thаt іѕ developed bаѕеd оn open ѕоurсе bу blосkсhаіn tесhnоlоgу еxреrtѕ and іt іѕ supported bу blосkсhаіn еnthuѕіаѕtѕ from аll over thе wоrld. TEMTUM іѕ a рrоfісіеnt, quantum-secure, ultrа-ԛuісk, non-asset еѕсаlаtеd аnd еаrth аgrееаblе рауmеnt соіn аnd аn орtіоn іn соntrаѕt tо customary fіаt mоnеу (government-printed currency).
THE VISION OF TEMTUM
It offers astounding open doors that have scarcely been tended to up until now. For cryptocurrency to flourish, the blockchain should now make the following stride in its advancement. What's more, here comes temtum into play. Temtum can guarantee a genuinely disseminated, decentralized and majority rule future for budgetary exchanges. It is a future that does not wreck nature. A future for all, any place they live on the planet, where the advantages of cryptographic forms of money are accessible and open to all. We have not just observed this positive future, we have planned, fabricated, tried and observed the innovation to be the best substitution medium.
What TEMTUM is Aiming to accomplish:
It gives shocking open entryways that have so far barely been tended to. For computerized types of cash to thrive, blockchain now needs to make the accompanying step in its advancement. Moreover, that is the spot Temtum comes in. Temtum can check a truly flowed, decentralized and greater part rule future for cash related trades. It is a future that does not pound the earth. A future for everyone, any place they live on the planet, in which the upsides of cryptographic types of cash are open and accessible for all. We have not recently watched this positive future, we have arranged the development, produced it, attempted it and mapped out how it will be completed as the best method of exchange.
Who is behind Temtum ?
Temtum was built up by Dragon Infosec CTO Richard Dennis, working with his overall gathering of cybersecurity and cryptography pros, Dr Gareth Owenson, Ginger Saltos and Cintya Aguirre. Together they set out to decide issues basic in dispersed frameworks, starting with Tor and Open Bazaar, finally Bitcoin, before structure up another advancement that can be used by and composed with standard portion frameworks for and by standard people. Richard took theoretical number juggling and academic research and shaped it into a blockchain advancement known as Temporal, guaranteed by Dragon Infosec and constantly approved to Temtum. Transient has been self-sufficiently attempted (BSI) and sent into a live working framework, giving the foundations for a snappy, secure, particularly versatile and biologically conscious portion coin — Temtum.
Five Benefits of Temtum projects
  1. Low-productive Energy — An remarkable understanding computation that does not require best in class figuring gear to confirm trades makes Temporal a greener blockchain plan.
  2. Lightweight Block Data — Information isn't required by center points to be secured locally unendingly on machines, making Temporal uncommonly beneficial and incredibly lightweight.
  3. Costless — Zero embedded trade costs on the framework, making Temtum a momentous advanced cash for high volume exchanges and trades.
  4. Fast — With block confirmation taking just 12 seconds, 5 blocks for every minute, TEM trades are close minute paying little mind to the entirety being sent.
  5. Secured — Temtum's system will have a top class security producing certainty crosswise over clients.
ROADMAP
To exhibit the specialized capacities of the temtum arrange – and what a small number of assets a hub is required to have so as to partake in the blockchain – we sent custom code on the head unit (HU) of a BMW i8 as a major aspect of a portability centered undertaking. This enabled the vehicle to work as a completely working hub, equipped for affirming exchanges as the vehicle was driven. The stacking of the code into the vehicle did not have any effect on its usefulness and had the option to keep running out of sight.
Despite the fact that the figuring power in the i8 is fundamentally not exactly customary PCs, it reliably showed the capacity to affirm 500 TPS. We accept this is a world-first where a vehicle has had the option to go about as a full hub without the necessity of extra equipment.
Two test vehicles, a BMW 220i, and the grandstand BMW i8 have been utilized during testing. As in the past improvement cycle, we didn't include any extra equipment and just the product on the iDrive frameworks were altered. We found that the BMW 220i, while an essentially less progressed as far as advanced frameworks than the i8, was as yet ready to completely take an interest and accomplish a similar degree of execution as a full hub (ready to store the Temporal Blockchain and affirm exchanges when required) as the lead i8.
Subsequent to showing that a section level BMW is completely equipped for partaking in the temtum organize as a hub, we likewise accomplished a work arrange between autos. This permitted the BMW 220i to have its own versatile system association incapacitated, leaving it without web get to and rather get information legitimately from the i8.
Getting information from the i8 to the 220i legitimately, where Temporal and all exchanges are additionally utilizing cryptography, would not present an assault vector. The capacity to speak with vehicles that don't have a functioning web association builds the open door for more seasoned autos to take an interest in the system, while expelling any portable information charges and lessening costs for system investment.
Sideloading our application into the current diversion arrangement of the more seasoned model BMW demonstrated no exhibition corruption to the driver. Testing is in progress to apply this hypothesis to more vehicle brands, including a 2018 Renault Megane, which will take into account direct cross-stage (for example from brand A to mark B) correspondence.
The greater part a-million BMW vehicles were enrolled in the UK from January 2014 to January 2017, with every vehicle more than fit for partaking in and supporting the temtum arrange. With system scale expanding assault costs, interest by means of existing versatility foundation could eventually verify temtum past levels seen with existing systems, without the requirement for costly vitality utilization.
Despite the fact that the natural effect of fuel-controlled vehicles is of some worry, utilizing innovation that is now being used and decreasing the weight of such systems as Bitcoin on global vitality assets is a positive move before increasingly manageable vehicles start taking an interest in the temtum arrange.
In the course of recent years, the Temporal Blockchain has been inquired about and created to the point we currently have a working item that is a development of the whole Blockchain innovation. Our guide returns in time, while sketching out the future for temtum.
For more information, visit any of these channels below:
WEBSITE : https://temtum.com/
WHITEPAPER : https://temtum.com/downloads/temtum-whitepaper.pdf
Message : https://t.me/temtumcommunity
Twitter : https://twitter.com/wearetemtum
Facebook : https://www.facebook.com/wearetemtum
Disunity : https://discord.gg/hs3v4g4
Reddit :/temtum
Medium : https://medium.com/temtum
Linkedin : https://www.linkedin.com/organization/temtum/
Youtube : https://www.youtube.com/channel/UCxEJq-piVp83Cm3yAOtQgkg
Github : https://github.com/temtum
AUTHOR'S DETAILS
BitcoinTalk Username: Degeneral002
BitcoinTalk URL: https://bitcointalk.org/index.php?action=profile;u=2160363;sa=summary
submitted by Agy4pee to ICOAnalysis [link] [comments]

BCNEX The Ultimate Blockchain Trading Platform & Airdrop

BCNEX The Ultimate Blockchain Trading Platform & Airdrop
https://preview.redd.it/tzrtqwujbt531.jpg?width=1500&format=pjpg&auto=webp&s=f41c3d37555d4f172583667184f54bb2e4659da0
We never imagined that blockchain technology is now almost used in all important sectors such as entertainment, finance, gaming, real estate, healthcare, etc. Blockchain technology was discovered in 2008, but became public trending when Bitcoin was first launched as a digital asset. Of course this can all be monetize if we can maximize the use of that technology. The advantages of using Blockchain technology than regular one are transaction speed, Transparency, safe and secure information, Cost-effective, Better accessibility.
What if the blockchain technology with a myriad of advantages where the digital assets that we have we cannot liquidate with fast and low cost fee transaction. Surely that would be worthless.
As digital assets and technologies begin to impact the real economy, adapting fast to this new emerging trend determines the leader of the industry adoption of smart contracts and blockchain technology provides a solution for most crucial problems in the financial sector, susch as lack of transparency and security, which create a gap between traditional and emerging assett classes.

https://preview.redd.it/zowkovtkbt531.jpg?width=2148&format=pjpg&auto=webp&s=2c9d54c882ba409385f0baa0d46f40047054af0d
For this reason Bcnex to be present become one of the largest Blockchain Trading Platforms in the world. Bcnex offers several advantages to meet the desires of customers' needs in terms of ease of use platform, transparency, very low fees and security.

Here is why chose Bcnex ?
1. Safety and Stability
Bcnex is a highly secure and stable trading platform built on microservices architecture that meets the most strigent customer requirements.
2. Customer Oriented
Users will be provided with a user-friendly, proprietary platform that gives them the best trading experiences, both in our desktop and mobile app.
3. Institutional-grade Trading Engine
The fast, accurateand low latency trading engine with flexible scalability can handle up to 2,000,000 order per second.
4. High Liquidity
With a rich and abundant source of liquidity, Bcnex ensures that every transaction on the system is executed without delays and multiple intermediaries.
5. Diverse Market
In addition to supporting a wide range of mainstream cryptocurrencies, we constantly expand our offering with other quality tokens.
6. 24/7 Dedicated Support
Our team work around the clock to answer any questions you may have, resolving tehnical and business issues promptly.

https://preview.redd.it/qhjt6wwqbt531.png?width=1280&format=png&auto=webp&s=ebca442d275a9d808dcdafc896e81570d37495c7
As a new trading platform, Bcnex offers many interesting program for new customers who register on their platforms such as Trading Competition, Earn Programs, Airdrop and Bounty.
Bcnex also support multi language in their trading platform such as English, Vietnamese, Chinese, Korean, Japanese and other languages will added gradually.
Bcnex also developed its own utility token symbolized as BCNX. It’s an ERC223 standard token released on ethereum blockchain with a total supply of 200,000,000 token. BCNX can be used as payment any fee such as trading fees, withdrawal fee, listing fee, etc with 75% discount for the first year.

TOKEN SUMMARY Token Name => BCNX Token Token Symbol => BCNX Token Type => ERC223 Total Supply => 200,000,000 BCNX Token Sale => 100,000,000 BCNX Token Price => $0.15 - $0.45

TOKEN ALLOCATION 50% Allocated for Token Sale 38% Allocated to Team Member and Advisors 5% Allocated to Angel Investors 5% Allocated to Reserve 2% Allocated to Bounty Program

FUND ALLOCATION 40% Allocated for Platform Development 40% Allocated for Branding and Marketing 10% Allocated to Legal and Auditing 10% Allocated to Reserve fund

ROADMAP
https://preview.redd.it/ctz2h4b3ft531.jpg?width=2472&format=pjpg&auto=webp&s=83c27caa7d05017e349968fd31236000b929602f
Bcnex is not only built on sound technology, but also supported by a solid team who are experienced in their fields and dedicate their expertise to customer satisfaction.

For more information about BCNEX please visit links below : Website => https://www.bcnex.net
Whitepaper => https://www.bcnex.net/docs/BCNEX_WP_ENG.pdf
One pager => https://www.bcnex.net/docs/Onepage.pdf
Bitcointalk Thread => https://bitcointalk.org/index.php?topic=5111223.0
Telegram => https://t.me/Bcnex_Official
Twitter => https://twitter.com/bcnex_net
Facebook => https://www.facebook.com/bcnex.net
Reddit => https://www.reddit.com/useBcnex_Official
Medium => https://medium.com/@bcnex

Bitcointalk User Profile => https://bitcointalk.org/index.php?action=profile;u=1303933
Bitcointalk Username => kentoeng
Author => Kentoeng
submitted by kentoeng to u/kentoeng [link] [comments]

About ...Betbox....

Presentation
"Digital forms of money" was not entirely presence some year back. There are late improvements which required its approaches. Quick improvement in the worldwide market and advances in innovation acquired changes the route issue of "Crypto" are seen.
All the more in this way, the universe of work has moved its concentration toward innovative and dynamism. This makes it basic for everybody to take the issue of "Digital currencies" increasingly genuine.
"Digital forms of money" today isn't what it was years back, it has moved to a period of scaling back, vulnerability, weakness, and flightiness and so on.
An advanced money "digital money" that has no unmistakable paper or physical coin portrayal. Rather, encryption systems utilizing PCs and open source programming create the cash dependent on numerical evidence, or blockchains. Digital forms of money, for example, Bitcoin are decentralized: There's no spot like a bank where the cash is held, and a private security key attached to an open source record demonstrates who holds the esteem. As an electronic installment framework, digital forms of money are quick and have low exchange charges contrasted with conventional financial frameworks, which are relatively moderate and have high expenses related.
That is the reason I've been working steadily endeavoring to confer this innovative endeavor to my comparative crypto colleagues
About Betbox platform
BetBox is an AI-driven Hedge Fund, bringing the power of Machine Learning. Moreover, Deep Neural Networks to alternate sports having a bet into a non-obligatory asset class. Our gadget is snared in science, as an alternative than budgetary idea and completed by means of utilising a sizable gathering of pros with organizations going from material science to computational math, consuming in an additional of 5,000,000 bits of certainties day through day.
BetBox has developed up a range of development and figuring, finding selecting up getting to know of in unstructured insights and sitting at the middle of our trading development.
The Betbox Vision
The video games making a wagering market energizes our inattentiveness like nothing else. Boundless actualities to assume about. Incalculable tactics to make a move. Quick and consistent criticism. Unfathomable chance.
It's gotten everything.
A few people name us methodical. This is what that capacity to us: we consolidate completely mechanized and adaptable AI innovation, profound neural systems and AI with a performing framework shape and an records driven methodology, to increment refined changing designs for the games workout routines having a wagering market.
Artificial brain conveys new complexities to the market. What's more, AI bundles will simply get extra unpredictable as registering vitality will increment and more outstanding insights come to be accessible. We use innovation with an quit aim to frequently refine our financing manner and our bits of knowledge into how the enterprise sectors will carry on. The hazard is a dwelling part in our business, and we watch over it cautiously.
About the BETX tokens
The examiners will possibly use BETX tokens as a appropriate endeavor, as a participatory budgetary instrument, getting the BetBox Hedge Fund pay to be flowed, sitting tight for the BETX impetus to augmentation and cross the tokens at the lucky time, to get fast advantage: Pre-ICO, ICO, and SCO Investors will get 20% of the net alternate income earned by using BetBox Hedge Fund (30% Performance Fee) on a quarterly reason, on their Ethereum wallets, as shown via the Smart Contract conditions; BETX token holders can in addition alternate BETX tokens on exchanges; BETX tokens can be traded, exchanged, received and bought between cash related pros, be that as it may, BetBox Hedge Fund has no pledge to recover them.
The FEATURES recognized with Betbox prepare join
Keen Contracts.
These are in some different case called a crypto contract, which is a PC software that specifically controls the buying and selling of cutting part cash associated benchmarks or sources between social affairs below exact conditions. Splendid contracts are notion boggling and their endeavor goes past the simple distinction in data, that can execute trades in a large extent of fields in the most constrained time allotment.
Neighborhood money OX
This is the first ERC20 token which depends upon on a proof of endeavor stepping accord with unfathomable provide and consolidated modernization of cash associated swelling. This will be used on the Betbox gaming or having a wagered stage as the portion or cash related by way of making use of the customers.
Diverse points contain machine consideration the spot the stage will give cross-arrange betting tiers to Android, computerized and IOS clients, multilingual help, and a notable deal of additional features.
The issues and alternatives that have came about in the taking part in business have collected for some range of time as separated under and their decisions took care of as underneath.
Trust and Transparency. This stage hobbies at constructing up a prominent and constant condition this will be carried out through a method for using sharp receives this is primarily based on ethereum blockchain. This has been a current difficulty in the trendy wagering region, which has been depending for the most part on united statistics accumulating system which is stacked with records manage and hacking as an alternative than in DApps.
Flexibility of the Ecosystem. Adaptability potential the capability of an enrolling strategy to be used and conveyed in a distinction in limits that suggests the stage is open-completed if any utility in future or enchancment limits ought to be exhibited without adjustment of data. This is rather of in wellknown gaming chairmen which want adaptability in their methodology of exercises. Also in articulations of that is a goal social occasion of humans Betbox as a section because of its perspectives meets the requirements in focused on a global neighborhood for any age phase by means of the utilization of ethereum, adroit contract and features.
Availability of organization. Moreover introduced together managers because of computerized strikes, downtime of servers, going for walks offline, the mixture of what this has been challenging to the wagering scene. Betbox uses sharp receives that are continued walking on blockchain science usually yet no downtime and constantly walking when set. From time to time DApps can be undermined in their frameworks in any case instead than united systems, cash and data are invulnerable at unequaled of the day and if one can get a section to them through some different blockchain get to.
ICO DETAILS
Token symbol: OX
Marker Standard: ERC-20
1 OX = 0.0004 ETH (discounts are available on purchase)
Soft Cap = 4,000 ETH
Hard Cap = 32,000 ETH
Accepted Payments – ETH
TOKEN ALLOCATION
TOTAL TOKEN MINTED: 100 MILLION OX
PUBLIC SALE: 80 MILLION OX
BOUNTY: 8 MILLION OX
RESERVE: 12 MILLION 0X
FUNDS ALLOCATION
BRANDING& MARKETING: 50%
ECOSYSTEM: 35%
RESERVE: 15%
For more information, visit:
Website: https://betbox.app/
Whitepaper: https://betbox.app/required/whitepaper_betbox_v1.pdf
Twitter: https://twitter.com/@betbox_OX
Telegram: https://t.me/betboxGlobal
Github: https://github.com/betbox
Bitcointalk: https://bitcointalk.org/index.php?topic=5026661.0

Author: cryptounique
Bitcointalk username: cryptounique
ETH Address:0x00a
9b763FF87ae5E9c6312779456144A06f6200F
submitted by 1loveone to u/1loveone [link] [comments]

Rockz Review

Good afternoon, my dear crypto-enthusiasts, and today I want to tell you about the wonderful and promising Rockz project and its advantages.
About project ROCKZ is that the world's most bulletproof cryptocurrency. The ROCKZ mission is to form the cryptocurrency market clear, safe and trustworthy for its users, in order that we are able to secure the name and full potential of blockchain developments and therefore the cryptosphere for future generations.
ROCKZ may be a service, not a artifact. Its success are measured, not within the extreme valuations of the coin, however within the variety of individuals United Nations agency trust it as their ‘port during a storm’.
The objective for ROCKZ is to be widely known, trustworthy and employed by each skilled investors and personal participants of the new crypto reality. we've a declared aim of achieving a minimum three-dimensional market share, creating ROCKZ a necessary a part of the cryptosphere design.
WHO CAN USE ROCKZ EARLY CRYPTO ADOPTERS
Private crypto financial specialists who have adequately completed premiums in the cryptosphere and need to shield their riches by protecting it from market, security and counterparty dangers. ROCKZ offers a 'secured harbor' for their riches when the seas gets brutal.
INSTITUTIONAL CRYPTO INVESTORS AND FUND MANAGERS
Institutional speculators are growing their help in this new resource class. For both short and whole deal exchanging, they require a framework to defer between times of endeavor development.
CORPORATES, SERVICE PROVIDERS AND PRIVATE INVESTORS
ROCKZ is planned for partnerships contributing explicitly for their own special record, and pro associations following up in light of a legitimate concern for their clients, and likewise private individuals who wish to get portions in cryptographic forms of money, anyway are hesitant to put it all on the line related to central coins.
CRYPTO-TRADERS
Crypto agents proficiently make a couple of game plans every day, or week , depending upon their exchanging style. As was made reference to over, these clients require an instrument that empowers them to settle positions snappy and change to new target looks. At present merchants use Tether, being under counterparty dangers, or Bitcoin, being under market dangers. ROCKZ is created to avoid both of these dangers. Whole deal speculators share comparative issues – and a comparable course of action.
USERS OF P2P MONEY TRANSFERS
These clients are chasing down a strong and unobtrusive means for the trading of assets to various regions or countries, which can be adequately changed over to quickly available assets. ROCKZ deals with this issue, and even empower clients to keep up a key separation from the change adventure, since the stablecoin thought of ROCKZ empowers sellers to recognize these tokens as a strategies for portion.
Vendors
They are hunting down a fast, straightforward and poor instrument of portion aggregation. Furthermore, this instrument must keep the estimation of assets stable after some time. As was indicated above, ROCKZ suits this immaculately.
Regular Users
They are not world-wise clients of digital currencies and simply need to safely store their salary. In countries where monetary standards can debase quickly or are even subject to country default and business bank frustration, ROCKZ offers a response for keep their capital safe.
Principle of operation Virtual currency RKZ will be issued by the company Alprockz AG, headquartered in Zug, Switzerland. This cryptocurrency will be provided by one of the most stable currencies in the world – the Swiss franc.
It is important to note that 90 per cent of the Swiss franc reserve will be kept in safe Deposit boxes in the form of banknotes. At the same time, the remaining 10 percent will be located on the deposits of the most reliable Swiss banking institutions, thereby ensuring a constant increase in the value of the virtual currency.
It is also worth paying attention to the fact that all reserves will be stored on the terms of a trust mandate. This allows holders of RKZ tokens, even in the event of bankruptcy of the issuing company, to gain access to Fiat funds in Swiss banks.
Token info
Token name : Alprockz (APZ)
Platform :(Ethereum)
Type : (ERC20)
Total Token Emission : 175,000,000 APZ
PreICO price : 1 APZ = 0.36 USD
BONUS
01.07.2018–15.11.2018 : 40% discount.
16.11.2018–15.12.2018 : 30% discount.
16.12.2018–30.01.2019 : 20% discount.
Tokens for sale: 26,250,000 APZ
Accepting : BTC, ETH, Fiat
Minimum investment :1,000 CHF
Total funds to be raised (Hardcap) : CHF 12.6M
Country : Switzerland
Whitelist/KYC : KYC & Whitelist
Restricted areas : USA, China, North Korea, Iran, Somali, Myanmar
TOKEN DISTRIBUTION STRUCTURE
60 % - Treasury (In escrow with vesting mechanism over minimum of 36 months)
15 % - Founders, Core Team & Advisors (vesting plan over 18 months)
10 % - Accredited Private Sale (vesting plan over 18 months)
10 % - Early-stage/ seed investors
5 % - Public sale
USE OF FUNDS
55 % - Development & operations of ROCKZ platform
20 % - Promotion of ROCKZ adoption and other blockchain innovations
15 % - Treasury reserve for any unplanned events
10 % - Legal and Compliance
Roadmap:
AUG 2017 - Launch of thenROCKZ project by the core team.
Dec 2017 - First investors back the project.
Feb 2018 - Request to the Swiss; Regulator to review; ROCKZ legal framework.
Apr 2018 - Second round of investors back the project; Start of the development of the MVP.
May 2018 - Final documentation sent to Swiss Regulator and Swiss National Bank.
June 2018 - Start of the token; Private Sale to accredited investors.
July 2018 - Agreements with main crypto brokers for the platform liquidity.
Aug 2018 - Project is officially publicly announced.
Sep 2018 - Communication campaign starts.
Oct 2018 - ICO of Alprockz (APZ), the mother of all ROCKZ; MVP live for ICO participants; ROCKZ are available to purchase.
Jan 2019 - Launch of public ROCKZ platform.
Mar 2019 - Offering of credit cards to spend ROCKZ anywhere anytime.
Jul 2019 - Launch of ROCKZEUR.
Sep 2019 - Launch of ROCKZKRW.
Conclusion
The formation of a stage for the lawful trade of cryptographic money for Fiat reserves and a stable computerized cash with greatest straightforwardness and security is very intriguing. This task ought to pull in the consideration of speculators because of the way that all assets are put away in Swiss banks, which are considered the most solid on the planet.
Furthermore, the organization ROCKZ AG as of now has a MVP, which demonstrates the genuine goals of the engineers.
For more information:
Website: https://alprockz.io
Telegram: https://tele.click/RockzPlatform
Telegram Chat: https://tele.click/ROCKZchat
Whitepaper: https://s3.eu-central-1.amazonaws.com/alprockz-docs/RockzWhitePaperEnglish_v3.pdf
ANN Thread: https://bitcointalk.org/index.php?topic=5066575
Facebook: https://www.facebook.com/RockzPlatform/
Twitter: https://twitter.com/RockzPlatform
Medium: https://medium.com/@rockz
Reddit: https://www.reddit.com/Alprockz/
Linkedin: https://www.linkedin.com/company/alprockz-ag/
Author's Info:
BitcoinTalk Username: qweryjkuyuymyum
BitcoinTalk: https://bitcointalk.org/index.php?action=profile;u=2217709
ETH WALLET: 0x3D17c00506572Bd93869D7818cE71Ae1822c139E
submitted by Levani91 to u/Levani91 [link] [comments]

The owners of Blockstream are spending $75 million to do a "controlled demolition" of Bitcoin by manipulating the Core devs & the Chinese miners. This is cheap compared to the $ trillions spent on the wars on Iraq & Libya - who also defied the Fed / PetroDollar / BIS private central banking cartel.

At this point, that's really the simplest "Occam's razor" explanation for Blockstream's "irrational" behavior.
Once you let go of your irrational belief that Blockstream's owners actually want to get a "return" on their $75 million investment, from "innovations" such as sidechains technology (Lightning Network - LN) - only then will you be able to see that Blockstream's apparently "irrational" behavior is actually perfectly rational.
They say their goal is to "get rich" from LN. And if you believe that, I have a Dogecoin I'd like to sell you.
What are the real goals of Blockstream's owners?
Blockstream's owners don't give a fuck about the Rube Goldberg vaporware which some focus group christened "the Lightning Network". That name is just there to placate the masses of noobs who congregate on /bitcoin.
The owners of Blockstream are laughing at Adam Back as he continues to labor in isolation, the stereotypical math PhD who is clueless about economics, toiling away creating a slow, overpriced, centralized "level 2" payment layer on top of Bitcoin - a complicated contraption which may never work. They have neutralized him - but meanwhile, he thinks he's a rock star now, as "CEO of Blockstream". Little does he know he is the worst "collaborator" of all.
Investors are risk-averse
If Blockstream's owners really wanted to get rich from LN, do you really think they would freeze the "max blocksize" at 1 MB for the next year, when this 1-year freeze obviously risks destroying Bitcoin itself (along with their investment)?
Investors are not stupid - and they are risk-averse. They know that if there's no Bitcoin, then there's no Lightning - so their $75 million investment would go out the window.
And all the "Core" devs have actually gone on the record stating (in their less-guarded moments, or before they signed their employment contracts with Blockstream) that 2 MB blocks would work fine - even 3-4 MB blocks. Empirical research by miners has shown that 3-4 MB blocks - or even bigger - would work fine right now.
So why aren't the Blockstream investors pressuring the Core devs to go to 2 MB now, to remove the risk of Bitcoin failing?
If Blockstream did the "rational" thing and agreed to 2 MB now, the price would shoot up, the community would heal, innovation would start happening again. Bitcoin would proper, and Blockstream's investors would have a good chance at making a "return" on their investment.
For some reason, Blockstream's investors are trying to stop all this from happening. So we have to look for a different explanation. If the owners of Blockstream don't want to get rich from the Lightning Network, then what do they really want?
The simplest explanation is that the real risk which Blockstream's investors are "averse" to is the possibility of trillions of dollars in legacy fiat suddenly plunging in relative value, if Bitcoin were to shoot to the moon. They're afraid they'll lose power if Bitcoin succeeds.
In order to provide some support for this radical but simple hypothesis, we have to dive into some pretty nasty and shadowy geopolitics.
What do the wars on Iraq and Syria, JPMorgan's naked short selling of silver, and the book "Confessions of an Economic Hit Man" all have in common?
Whenever a currency tries to compete with the Fed / Petrollar / BIS [1] private central banking cartel, the legacy fiat power élite destroys that currency (if the currency has a central point of control - which Bitcoin does have: the Core devs, the Chinese miners, and Theymos).
[1] BIS = the Bank for International Settlements, often referred to as "the central bank of central banks"
Trillions of dollars were spent to take down the central banks of Iraq and Libya, because they defied the hegemony of the Fed / Petrodollar / BIS private central banking cartel.
https://duckduckgo.com/?q=ellen+brown+iraq+libya+bis
And while you're googling, you might want to look up whistleblower Andrew Maguire (who exposed how JPMorgan uses naked short selling to "dump" nonexistent silver in order to prevent the USDollar from collapsing).
https://duckduckgo.com/?q=andrew+maguire+jpmorgan
And you might also want to look up John Perkins, whose book "Confessions of an Economic Hit Man" is another major eye-opener about how "the Washington consensus" manages to rule the world by printing fiat backed by violence and justified by "experts" and propaganda.
https://duckduckgo.com/?q=john+perkins+confessions+economic+hit+man
That's just how the world works - although you have to do a bit of research to discover those unpleasant facts.
So for the legacy fiat power élite, $75 million to take down Bitcoin (and maintain their power) is chump change in comparison.
You all knew that "they" were going to try to destroy Bitcoin, didn't you?
Even Jamie Dimon practically admitted as much.
https://duckduckgo.com/?q=jamie+dimon+bitcoin
Did you really think they would be clumsy enough to try to ban it outright?
Private central bankers run this planet, and they have never hesitated to use their lethal combination of guns, debt and psyops to maintain their power. They pay for the wars, they keep people enslaved to debt, and they dumb down the population so nobody knows what's really going on.
Print up a trillion dollars here, kill a million people there, brainwash everyone with censorship and propaganda. That's their modus operandi.
So we shouldn't be surprised if they they ruthlessly and covertly try to take down Bitcoin. They have the means and the motivation.
It was only a matter of time before they identified the three weakest centralized points in the Bitcoin system:
And so that's where they applied the pressure.
I'm sorry to be rude, but all three of those players listed above are idiot savants / sitting ducks up against the full-spectrum of covert dirty tricks deployed by the legacy fiat power élite - whether it's money, ego-stroking, or pretending to go along with their crazy cypherpunk beliefs that Bitcoin will only prosper as long as it remains small enough to run a node on a dial-up internet on a Raspberri Pi in Luke-Jr's basement.
So the simplest explanation is this: Blockstream is a "front company" which has been established for the purpose of performing a "controlled demolition" of Bitcoin.
So Satoshi messed up. He messed up by baking in a 1 MB constant into the code at the last minute as a clumsy anti-spam kludge - which could unfortunately only be removed via a hard fork - and which the global legacy power élite have figured how to retain via social engineering directed at clueless Core devs and clueless Chinese miners (and clueless forum moderators).
So why is the price is still fairly stable?
Heck, I'm so paranoid, I wouldn't even put it past them to try to interfere with investors who might otherwise be trying to send a signal by "voting with their feet".
In other words, several observers have commented that the only way to liberate Bitcoin from the cartel of Chinese miners and Core/Blockstream devs is to crash the price.
And many other observers are puzzled that the price isn't crashing now that Bitcoin is being strangled in its cradle by Blockstream.
Well, this wouldn't be the first time that the Fed / PetroDollar / BIS private central banking cartel sent in the "plunge protection" team to artificially prop up their fragile, centralized, permissioned currency.
https://duckduckgo.com/?q=plunge+protection+team
Who knows, they could easily have printed up a few million dollars in phoney fiat and given it to players like Jamie Dimon or Blythe Masters who probably have access to the HFT (high frequency trading) tools to keep the price exactly where they want it, for as long as they want it. Manipulating an unregulated $6 billion market would be child's play for them.
The point is, we have no idea who is buying bitcoins at this price right now. Or what their motives are.
I know that if I were part of the legacy fiat power élite, this is exactly what I'd be doing now: buy off the devs, pressure the miners, encourage the censors, and play with the price - so nobody knows what the hell is going on. Prevent the price from crashing for the next year (so the community won't have a "smoking gun" to reject the Core devs and the Chinese miners)... and prevent it from going to the moon also (so the dollar won't look like it's crashing). Not too hard to do, especially if you have unlimited fiat at your disposal.
2016 is the perfect time to perform a "controlled demolition" on Bitcoin.
All the forces in the global economy are now aligned for a massive economic storm of epic proportions. Without Blockstream's interference, Bitcoin's price would be shooting to the moon right now, because it's the only digital asset class free of counterparty risk, compared to all the other garbage floating around in the system:
https://duckduckgo.com/?q=deutsche+bank+lehman
https://np.reddit.com/BitcoinMarkets/comments/45ogx7/daily_discussion_sunday_february_14_2016/d0015vf
https://duckduckgo.com/?q=china+capital+flight
https://duckduckgo.com/?q=NIRP+Negative+Interest+Rate+Policy
Bitcoin is one of the only safe harbors in this oncoming economic storm. So it should be skyrocketing right now - if there were no artificial constraints on its growth.
So if Blockstream were not doing a controlled demolition of Bitcoin right now by freezing the blocksize to 1 MB for the next year, then the Bitcoin price could easily go to 4,000 USD - instead languishing around 400 USD.
In other words: the USDollar would be crashing 10-fold versus Bitcoin.
The only bulwark against Bitcoin rising 10x versus the USDollar is Blockstream's stranglehold on the Core devs and the Chinese miners.
Just like the only bulwark against precious metals rising 10x versus the USDollar right now is JPMorgan's naked short selling of phoney (paper) precious metals, mainly via the SLV ETF (exchange traded fund).
https://duckduckgo.com/?q=jpmorgan+naked+short+selling+slv
(Most informed estimates say that there is 100x more "fake" or "paper" gold and silver in existence, versus "physical" gold and silver. So it's easy for JPMorgan to suppress the silver price: just naked-short-sell "paper" silver. They do this as a service to the Fed, to prop up the dollar. And your tax dollars pay for this fraud.)
The silence of the devs
Isn't it strange how not a single Blockstream dev dares to "break ranks" on the 2 MB taboo?
This unanimous code of silence among Blockstream devs speaks volumes.
Devs on open-source projects like this (particularly ones which were founded on principles of "permissionless" "decentralization") would never maintain this kind of uniform code of developer silence - especially when their precious open-source project is on the verge of failing.
Most devs are rebels - especially Bitcoin devs - ready to break ranks at the drop of a hat, and propose their brilliant ideas to save the day.
But right now - utter silence.
This bizarre code of silence which we are now seeing from the "Core" devs must be the result of some major behind-the-scenes arm-twisting by the owners of Blocsktream, who must have made it abundantly clear that any dev who attempts to provide a simple on-chain scaling solution will be severely punished - financially, legally and/or socially.
Blockstream has deliberately set Bitcoin on a suicide course right now - and all the devs there are silently complicit - and so are the Chinese miners who submissively bowed down to Blockstream's stalling "scaling" roadmap.
But I don't really blame the devs and the miners. I feel bad for them.
I'm not really "blaming" any Chinese miners for being used like this - nor am I really "blaming" devs such as Adam Back, Greg Maxwell, etc.
Nor do I really "blame" guys like Austin Hill.
And I even think guys like Theymos and Luke-Jr "mean well".
They're all just being played. They think they're doing the right thing. Their arguments are genuine and heart-felt. Wrong, but heart-felt. This is what makes them so dangerous - because they really sound sincere and convincing. This is why they are the perfect pawns for the owners of Blockstream to play like this.
Subtle coercion
We recently found out that they locked the Chinese miners in a room for 13 hours until 3 AM to force them to sign an "agreement" to never use any code from a competing Bitcoin implementation that would increase the blocksize.
https://np.reddit.com/btc/comments/46tv22/only_emperors_kings_and_dictators_demand_fealty/
Have you ever seen this kind of coercion in an open-source project - an open-source project founded on the principles of "permissionless" "decentralization" - where many of the founders were "cypherpunks"??
The miners and the devs - and Theymos - and guys like Austin Hill - all are passionate about Bitcoin, and they all believe they are doing "the right thing".
But they are being manipulated, without their knowledge, by the real power behind Blockstream.
Prisoners in a golden cage
Strange how we never get to hear what really goes on behind closed doors at Blockstream. We never get to see the PowerPoint decks, we never get to find out who said what. Blockstream's public messaging is tightly controlled.
If Bitcoin were to have a "core" dev team, it should have had something like the Mozilla Group, or the Tor Project - non-profits, who answer to the public, not to private investors. Instead we got Blockstream - a private company funded by some of the biggest players of the legacy fiat power élite. WTF?!?
If they wanted to develop sidechains and LN, then fine, they should be able to. But what they're really doing is radically changing Bitcoin itself - mainly by freezing growth at 1 MB blocks now, which is choking the system.
Depite all this, I still would not go so far as to say that the Core devs and the Chinese miners are really "traitors". At most, they are actually prisoners in a golden cage, who are not even really conscious of their own imprisonment. They're smart people - and in some ways, smart people are actually easier to fool, once you figure out what they believe in.
So this is what I really think the owners of Blockstream have done. They've figured out how to manipulate the Core devs and the Chinese miners - and they're happy that Theymos is playing along, censoring the main online forums - so they're able to move ahead with their plan to do a "controlled demolition" of Bitcoin, and it only cost them $75 million dollars.
Centralization got us into this mess.
The only reason Bitcoin is vulnerable to this kind of "controlled demolition" being performed by the owners of Blockstream is because mining operations and dev teams are centralized - thus providing a single, vulnerable point where the legacy fiat power élite could easily deploy their full-spectrum attack.
We finally have a digital asset with no counterparty risk - and they want to take it away from us, so that we continue to depend on their debt-backed, violence-backed legacy fiat.
And they're able to do this because the Core devs and the Chinese miners and Theymos were such easy gullible centralized targets.
Decentralization will get us out.
If you are a miner or a dev, and if you want Bitcoin to survive, then you must go back to the principles of permissionless decentralization.
Go dark, release some code anonymously.
Release an internal Blockstream PowerPoint deck or some internal Blockstream emails to Wikileaks, exposing what the Blockstream investors are really up to.
Otherwise, Bitcoin is probably going to fail to realize its potential - and we'll have to wait a while for truly decentralized development (and mining, and forums) to possibly create a successor someday.
If you're a hodler, it would be great if such a phoenix rising from Bitcoin would be a "spinoff" - ie, a coin bootstrapped off of the existing ledger (to preserve existing wealth, while upgrading to a new protocol for appending new blocks).
https://bitcointalk.org/index.php?topic=563972.0
But who knows.
submitted by UndergroundNews to btc [link] [comments]

PERUCOIN Education of CryptoCurrency

PeruCoin to promote knowledge of the crypto-currency in Peru through the procurement of factories, the location of mining machines and excursions to show how they work.
Website Ann Thread Medium Twitter Facebook Telegram WhitePaper
https://preview.redd.it/oc6vsjton2111.png?width=1125&format=png&auto=webp&s=8d4bf8ec907f120d946b9532de94007ac7320bbb
Overviews:
Everything is constantly changing and does not stand still. Also, the changes could not but affect the financial world. Thus, a new type of currency exchange opens before us — a crypto currency. It has long been born, but recently gained tremendous popularity among the masses. But even despite such strong information support, the crypto-currencies are exposed to great mistrust among the main masses of people who are looking at the world of crypto-investment and blockade from the outside. And here on the scene comes PeruCoin.
The main goal of PeruCoin:
The main goal of PeruCoin is the wide awareness, explanation and introduction into the everyday life of Peruvians of an innovative means of payment — their own crypto currency. PeruCoin is setting itself to buy an industrial building / plant in the near future for its further conversion into a mining farm. PeruCoin also aims to promote knowledge about crypto-investment, crypto-security, blocking technology and related industries and information in Peruvian society. They are going to conduct excursions to their mining farms for all who want Peruvians and foreigners.
What is PERUCOIN?
https://preview.redd.it/677jsp6xj2111.png?width=1125&format=png&auto=webp&s=e4a01211da68f41ad3d79ba0babb2eb5556c7b4e
PeruCoin is a new generation of innovative crypto-currency platform that was created to provide knowledge of the Crypto-currency of the Peruvian population through excursions to the plant where they can assess the technical capabilities and operation of the mining equipment in action and at conferences. PeruCoin plans to achieve this by educating and raising awareness of the general population of Peru about the benefits and security of Blockchain technology and the adoption of digital currencies. PeruCoin ideally involves stimulating the development of a new financial ecosystem in Peru, based on the interaction between public education and the interaction of Blockchain technology and asset management.The main task of PeruCoin in the short term is the acquisition of a factory, which will later be transformed into a mining farm. In addition, the company seeks to strengthen and stimulate the widespread use of Crypto-currency among Peruvians. Through a mining farm PeruCoin aims to become the most modern crypto-mining platform in the world, using the potential of Blockchain technology. The platform intends to bring large financial payments to its investors, holders of PERU tokens and participating traders, and will also provide first-class offers to Peruvians. An interesting idea, is not it?
The objectives of PERUCOIN:
Bitcoins will be mined on a mining farm.
Many experts on the market and representatives of the crypto community have an opinion that the main thing that you need to pay attention to the evaluation of the project is the developers. In the case of start-ups, project ideas change very often when confronted with the market, and the team in any case remains constant, so it is important to understand whether they will be able to overcome difficulties.
General information:
Token: PERU Platform: Ethereum Standart: ERC20 Quantity: 2,000,000 PERU Price: 1 PERU = 7 USD Payment:ETH
Soft cap: 5,000,000 USD Hard cap: 13,300,000 USD
Distribution of tokens
The undoubted plus is also that the total issue of tokens is only 1 million 900 thousand tokens, which should favorably affect his course.
https://preview.redd.it/54ht0gzgk2111.png?width=1124&format=png&auto=webp&s=cae2d4731ff9819a92c82046c30de930206cee63
The project will allocate 77% of the tokens. 8% of tokens are allocated to the team. The cost of marketing 2% of tokens. Tokenov for the exchange of 13%.
https://preview.redd.it/e8lwl9npk2111.png?width=1124&format=png&auto=webp&s=71ce8147a719201e72ca34c69b9799090c546e77
RoadMap:
https://preview.redd.it/jmwhl75zk2111.png?width=1124&format=png&auto=webp&s=7476bcb22638b7ce119f439c70be3cdde0bd76c5
Bits2u Certificates:
https://preview.redd.it/b90k4kkel2111.png?width=1422&format=png&auto=webp&s=a9d7a6b2b4fd338d8c191dbb6266820cb666ed6f
For more information
Twitter |Facebook |Website |Telegram |GitHub | Medium |Reddit |Discord |Bitcointalk | WhitePaper
Author: https://bitcointalk.org/index.php?action=profile;u=608966
submitted by imtiazmahmood to CryptoICOinvestors [link] [comments]

Krugman and Bitcoin and Me: Radical Thoughts on Fixed Supply Currency

My dad asked me how I reconciled Bitcoin's fixed supply with the Keynesian model of supply. I understand that most people around here don't hold much stock in what Paul Krugman has to say. But much of the real world actually does, what with his Nobel prize and all. So I put some serious consideration into what he had to say about deflation, how it relates to Bitcoin, and other vague currency questions. What follows is my email back to my pa. Many of these ideas have come from my time spent in this forum, so feel free to chop it up, edit, and distribute away if you find any of it worthwhile.
Thoughts from a liberal after reading Paul Krugman's 2010 NYT piece: Why is Deflation Bad?
Krugman and Bitcoin and Me
Krugman's argument against deflation is built with a dependency: that there is a central authority which controls the money supply. So in a sense he has two core points.
(1) Krugman prefers that a centralized authority control the currency supply in order to manipulate the economy.
I'll allow that this tool can be a good, stabilizing force. But if that's the case, I want to be able to vet that institution from the bottom up before handing them the keys to the kingdom. And I want that institution to unequivocally work for society, not for Goldman Sachs. If I thought the current system worked well, I wouldn't be exploring other options in the first place.
(2) Krugman prefers that that centralized authority manipulate the economy such that it encourages spending and lending. In other words, manipulate toward small inflation.
This could be a good thing. And maybe the economy it creates is more fluid than a deflationary one. But when you bake into the system incentives to spend now and borrow from the future now, you get exactly the problems that you'd expect: over-consumption and a society largely ridden in debt.
Control of the supply of the currency carries tremendous power. It can be used to smooth natural economic cycles and encourage specific consumer and producer behavior. This supply-manipulative ability is not in and of itself a bad thing. The question is whether it is necessary- because with Bitcoin (as it stands) it is impossible. Within the theoretical bounds of crypto-currency, the abilities for algorithmic, "smart" money-supply, one that rests on mathematics rather than the banking elite, are endless. There are truly exciting developments to come in this space.
A First Consideration on Currency
Think, for a moment, of the unit of currency as sort of a creditor's note. It is an IOU from society; a placeholder for some unit of production. It says, "I produced something valuable (for someone else who takes part in this system). In return I got this note. I have reasonable assurance that one day I can cash this IOU in for something that I'll need in the future."
The unit of currency acts as a placeholder for its owner. Under this system, people trade their current productivity for the placeholder, and later (given the system still has integrity) they can trade that placeholder for something that raises their standard of living. It allows us to "time-shift" our production with respect to our consumption.
But don't forget!: A unit of currency as "just a thing". It only carries value if it is actually valued by somebody else you want to do business with. The dollar, the gold bar, the Bitcoin. the Euro, all work the same way: they are nothing but numbers or paper or metal. They are just atoms arranged in a way that make them valuable to a group of people only because they trust in the future of their common system.
Currencies are a subset of commodities. Commodities are things (oil, clothing, food, televisions) that are valuable to humans because they have useful properties. Like we said above, a currency's use is to "time-shift" production and consumption. The properties of the object that afford this advantage are usually a combination of irreproducibility, fungibility, scarcity, ease of transport, and securability.
Why is Deflation Bad?
In his 2010 NYT piece, Krugman argues that deflation hurts the economy due to three factors:
(1) People become less willing to spend, because sitting on money becomes an investment. Your dollar tomorrow will buy you more than what it can today, so why spend today? Therefore, spending goes down.
(2) Those in debt get into serious trouble awfully quickly, because the nominal amount-owed appreciates in value. As a result, they spend significantly less. At the same time, creditors have been shown to not spend enough such that it make up for this difference. Therefore, borrowing (and spending) goes down.
(3) Psychologically, people hate nominal wage decreases. With a fixed supply currency, year over year, wages will have to decrease in name. Even if the value of your wage rises, the amount written on the paycheck is lower. Therefore, people freak out.
These are troubling scenarios, though I think the first two are more substantial than the third. I don't mean to underestimate the psychological factor- in economics psychology is everything- but we'll talk about this later.
Krugman presents the first two points as bugs in a deflationary system. I see them as features.
"Your dollar will buy you more tomorrow than what it can today."
I think this is natural. We are a rapidly advancing species; through technology we are becoming more efficient, automating crappy tasks, raising the standard of living for less work, of course a dollar (that placeholder for your unit of production) is going to go further tomorrow than it does today.
Personally, I find this appealing. It provides every incentive to work now and spend later. That falls very much in line with good ol' American hard-working values and non-consumptive ethics.
Krugman finds this worrying though. If people have less incentive to spend, their is a crisis in demand. Hello liberals?! When was the last time we complained about lower consumption? In a country wracked with hyper-consumption that has put an unprecedented load on Earth's environment and ignited a climate crisis, I see a drop in demand as a breath of fresh air! Furthermore, you don't have to worry about people never spending. People will always spend now- but only on the want/need products, rather than the maybe-want-need-this-now-really-might-as-well-because-my-currency-is-losing-value-and-all-these-things-meet-my-zillion-useless-ephemeral-wants products.
I do believe there are much higher economic principles at work here. The United States is the world's default consumer. The global economy needs us to consume as much as it needs the million child laborers to produce. The economy would come crashing down if we stopped consuming immediately. But if we're trying to aim for a more sustainable economy, one that is compatible with the Earth's environment, let's move slowly and use a deflating currency as an incentive!
"Deflation rewards creditors and hurts debtors. Debtors spend less and creditors don't spend more enough to offset."
The impassive Krugman is beating around the bush. There is a problem when debtors suffer at the expense of creditors, and it's more than just a net loss in consumer spending. If you're concerned about a reduction in spending, see my previous point. But the remaining ethical problem is glaring- a power imbalance already exists in a creditor-debtor relationship, and it seems that deflation only widens this gap, crucifying the debt class on a cross of deflationary coin.
There's no doubt that this is a problem. And wealth redistribution may ultimately be easier with an inflationary currency- again, a word on that later. But there is also an incentive here: borrow less. Credit card debt is at an all-time high, up 1200% in the US since 1980, all while student loans have ballooned out of control. But neither of these problems even compares to the $7.8 trillion of mortgage debt our country has dug itself into.
Now debt is not a bad thing. The right combination of debt and saving, that is- using both capital previously earned with capital borrowed from future earnings- indicates a healthy economy. I don't want to have to work my entire life only to afford a house at the very end. I want to be able to borrow from my future economic output, buy the house now, and live in it while I work to pay it off. The same goes for student debt, corporate debt-financing, etc. Access to credit is crucial to a healthy middle class.
But ever-increasing debt is not sustainable. Nobody lives- and produces- forever, so you cannot always borrow from your future economic output. In the end, regardless of the money tricks you play, you have to produce enough value to cover your consumption. The world recently found out, in a mild manor, what happens when a currency's incentive and a nation's culture favors borrowing. When given the opportunity to build houses they never could have dreamed of paying off in their lifetime, millions of people took the offer and the biggest lenders took the risk. The echoes of their mass default still burden the global economy 6+ years later.
The point is, if Krugman says "inflation promotes borrowing", I say, "is this debt-ridden wreck what we really want our economy to look like?"
"People would freak out when their paycheck goes down."
I say get over it. Other possible proclamations in a deflationary world:
Better yet, this reflects reality! Technology makes everything cheaper every day. You should be paying lower phone bills tomorrow. Has the infrastructure gotten less efficient?
Here it feels like Krugman's grasping for straws. He pounces on people's reaction to their one source of income rather than their many expenses. This point also invokes that ugly liberal side: "The people don't know what's best for them."
The Central Authority as a Tool for Wealth Redistribution
Now we're talking. As a Liberal, I consider this to be a most important necessary evil. But let's call it what it is: stealing from the rich to give to the poor. (Unless we reject the modern notion of property- stay tuned...)
In an inflationary economy, value is constantly leaching out of everyone's savings. Those who control the monetary supply have a means of reaching into every dollar, and skimming off a little bit of value. We can choose to do a lot of good with this. Right now the skimmed dollars are "lent" to banks- the theory is that they then have more to lend to the general public and everyone benefits. Lending is good right? It introduces liquidity. But continue this cycle ad infinitum and all the spending in the economy starts in the form of bank debt! It is no coincidence that Americans households are more in debt than ever before.
If wealth redistribution is the only benefit of a central supply authority (which can fall out of trust at any time), this is a weak foundation. We already have a mechanism for wealth redistribution: taxation. Let's be proud of it, call a duck a duck, raise taxes on the wealthy, and introduce that liquidity with massive infrastructural programs, education spending, science spending, etc, rather than in the form of bank loans.
One last point- inflation appears to be a flat tax. That's already bad. It affects every dollar proportionally, rich or poor. Worse, the middle class and poor have a higher percentage of their net worth in USD- so inflation then becomes a regressive tax... given to banks... to be lent out to again to the middle class. All in the name of wealth redistribution?! In the name of kick-starting the economy?! Something's fishy here, and "you wouldn't understand, it's more complicated" doesn't cut it as an answer for these practices.
Bitcoin
So. What are we even doing here?
In 2009 a great mind developed a tool, the first in the history of human civilization, for "minting" a currency according to a fixed and open sourced algorithm. Without the involvement of any third party, you can now send an irreproducible digital object of fixed supply to anyone with an internet connection. The implications are mind-boggling. But the first such currency, Bitcoin, happened to be fixed-supply and ultimately deflationary, which has re-sparked the deflation vs. inflation debate.
This is happenstance. The protocol that gives rise to these digital currencies- the bitcoin protocol (small b)- could easily implement a different supply model. Paul Krugman can start a currency, KrugCoin, with any supply model that he likes! Which begs one last question.
Let's say I'm presented with an option: I may collect my paycheck in a currency that deflates- that is, my paycheck will gain value over time. Or I may collect my paycheck in a currency that inflates- it loses value over time. Why would anyone choose the latter? Must a population be forced into using an inflationary currency? Are we?
submitted by dpxxdp to Bitcoin [link] [comments]

Thoughts on diversification - hodling was not meant for a bull market

Goal of this post
Encourage people to diversify their asset allocation in these times of increasing Bitcoin’s price. Fight against a trend in this sub that encourages blindly to hodl.
“Hodl” : History and definition
The term was coined in December 2013 on bitcointalk (https://bitcointalk.org/index.php?topic=375643.0). Bitcoin had lost 50% of its value in under 3 weeks. It quickly became a meme that would be of great use in the coming 2 years of quasi continuous decrease in price. It was preceded by a meme from the movie Sparta from Spring 2013 during the flash crash 200$->100$ (see for example https://www.reddit.com/Bitcoin/comments/1c2n5z/hold_spartans/).
Observation
I have seen many comments these past days and weeks that express a dogmatic view on not selling bitcoins. Numerous times people showed contempt for those who would do that, or those simply mentioning this possibility, not hesitating to call them “idiots”, if nothing more offending. Shaming and mocking them seem to have become, unfortunately, a bit too common in this sub. It would be interesting to see the frequency of people shouting “hodl”. We might be at an all time high !
Comments
However, people misuse the term “hodl” and misunderstand its spirit. It was coined in times of deep sorrow, when the price was plunging and the suicide helpline was stickied. It was meant as a rally cry for people to stay strong in face of adversity and to resist the urge to sell at a loss. It was meant to help people. It is now used to press people into keeping their bitcoins although the price is going up in a tremendous manner. This is not helpful. This is dogmatic and against their best interest from a personal finance point of view.
Nothing is certain. The future of Bitcoin is not certain. There is a chance, even if a very small one, that Bitcoin will disappear or that its value will plummet, forever. The value of your crypto wallet might now represent quite a percentage of your total assets, thanks to the recent rally. Maybe it is time to consider diversifying into different asset classes (housing, stocks, you name it) to avoid an unlikely catastrophe.
I am not advocating the opposite extreme, i.e. to sell all your bitcoin, but to decide on a percentage of your assets you want to keep in Bitcoin and to sell and buy accordingly or alternatively to decide on a dollar equivalent amount.
A turning point for me is when a redditor asked me if I would ever invest this amount of money in bitcoin, referring to the dollar equivalent of my bitcoin stash. The answer was limpid : no. I guess there is a social bias going on here.
A word about me
Interested and invested in Bitcoin since 2011. Hodled through the 2011 bubble, the 2013 bubbles and the 2013-2015 long hodling march. Started divesting this year to keep a constant percentage of my assets in Bitcoin.
submitted by ThrowawayHodl to Bitcoin [link] [comments]

[Table] IamA porn site owner. AMA!

Verified? (This bot cannot verify AMAs just yet)
Date: 2013-08-19
Link to submission (Has self-text)
Questions Answers
Hello. Interesting AMA. Do you make enough to live comfortably? Yes. I grossed just shy of $300,000 last year. I drive a Mercedes and live in a luxury apartment in an expensive area of the country.
Does your family know? Not really. My only concern is with legality and VISA/MC's "BRAM" violations, since they could blacklist me and prevent me from ever accepting credit cards again.
Can I have a free pass? ;-) My sister knows, but my mother doesn't. The rest of my family has passed away or never existed.
Hah. Would if I could, but my site sells clips individually. There are no subscriptions... yet. :)
What does your mother think you do? I went self employed a year ago, but I have another website (which doesn't do as well) that I can point people to. As long as they don't examine it too much they probably wouldn't notice the lack of activity.
Awesome. What is the site name? :-) Lemonparty. ;)
(note: I'm kidding, of course.)
You say what you grossed but what's your margin? And would you accept outside investment? Net profit margins on clips are between 20% and 30%. Tribute margins between 10% and 20%.
Can you elaborate on not having any ethical concerns? What measures do you have in place to make sure the performers in your videos have good working conditions, aren't being coerced or manipulated into performing, aren't victims of human trafficking, etc.? I have no measures in place to prevent those, really. It's more policing them after-the-fact.
The only thing really in place is the ability to report a video, which then flags it for the review of an admin. If the video looks like it could be illegal, we take it offline until the studio can provide proof the video is legal.
According to the DMCA, content platforms cannot be held liable for the content posted by the user to a reasonable extent.
What I meant is I don't have moral concerns about the content of my site. A lot of it is pretty revolting, but it's not my job to judge or deny anyone for their fetish, as long as its within the bounds of the law.
Dad? Grandpas.
I wonder if that site has any serious profit. Everyone knows it. I doubt it... accidental ad clicks, maybe. The thing about advertising is it works best when you sell it to people in your market. I would assume that not many people go, dicks-in-hand, to lemonparty. But if its one thing owning a site like mine has taught me, its to not make assumptions about what materials people look for while "firing the surgeon general".
So by my math you're making around $75k/yr. if you're grossing 300k--surely a comfortable life, but by no means the lap (or crotch, in this case) of luxury. That sounds about right. Maybe less. Sometimes I'll work web contracts to supplement my income. It also helps remind me why I much prefer working for myself. :)
How often do you get a completely inappropriate video that you have to reject? Not too often, but there's some pretty harsh stuff on the site. I really try to look at it objectively. Some of the stuff makes me cringe and is hard to watch. Dudes getting kicked in the balls, for example.
Edit: Willingly, I might add.
Yay, a foremen fan! NICE! I was wondering if anyone was gonna get that reference.
Do you ever visit other porn sites to get off? Or do you stick to your own? I never get hard on my own supply.
Pretty much, the content on my own site isn't for me. We have some very attractive women on the site, but there isn't much traditional porn on the platform.
What's one weird trick that will help me last longer and/or increase the size of my dick? From personal experience? More foreplay.
If you've ever been given blueballs and afterwards pulled out your wang, you'd be surprised at how much bigger it can get. Freaked myself out once after a heavy petting session that wasn't advancing.
How was that username not taken? No idea.
Why did you make this AMA anonymous when you could have used this as a marketing campaign? I'm not really looking to profit off of this. I've read a bunch of awesome AMAs and figured I could contribute and answer some peoples curiosity. When I tell people in person they always have a hundred questions for me.
How long have you been in the industry? Besides, I find it difficult to believe anyone could be into some of the things on my site. I doubt it would boost sales.
Do you still find porn appealing or is it all pretty run-of-the-mill now? About 3 years.
I'm not turned on by many of the videos on my own site, so it hasn't changed porn for me much at all. I stick to beeg and motherless, personally.
Where do you think the future of porn on the internet is headed? The same direction the rest of the web industry is heading. HTML5 / Javascript MVC frameworks. High scalability platforms. The only advantage is there's a serious shortage of talented developers in the adult industry, so those of us who do know these technologies have an upper hand.
all the sites like Redtube/youporn etc... all giving away porn for free has to make a big dent into your profits? We do find our studios' clips on some of these sites. Sometimes a DMCA notice works, sometimes not. However, since the bulk of my customers are into financial domination, they prefer to pay for the clips. We also make a good amount of money from "tributes", which are simply cash donations. Not sure of the legality of tributes, but they're an industry staple.
What is this "financial domination" stuff? Sounds real kinky! I searched for it on a competitors video site but couldn't find anything.. It is indeed a real thing. I've come to learn about some pretty crazy fetishes people have.
FinDom (financial domination) Fart porn / flatulence Hiccups Giantess (look this one up. you won't believe it.)
What is financial domination? "A real thing" isn't really an answer and doesn't really help. Pls describe in further detail. Financial domination is a fetish where men, who are usually in powerful corporate positions, want to give up control. They're usually in charge, but this lets them not be. Sometimes it's via video chat, sometimes its just a video they purchase, but every time it has to do with being called names, told they're not good enough or just worthless "pay piggies". The girls will demand the men give them money, and they do. Usually there's not even any nudity unless its the man getting naked. I've seen some crazy shit with FinDom. Guys with broomsticks up their asses and womens clothes on... whatever the girl wants to do to humiliate the guy.
Sometimes they let the girls control their computer remotely with access to go through their email, send themselves money, etc, while they just watch with their dick in their hand.
It's odd and I don't understand it, but again, I'm not here to judge. I'm here to make money.
One studio I know demanded a man buy her a brand new BMW M3 convertible, and he did. He gave her $10k in cash per month until it was paid off. That's an $80k car.
I wish I was a hot girl... They make pills for that.
That's really crazy, you're basically just giving money away to someone you don't know at all.. It is interesting, but it exists, so I don't question it too much.
I'm looking for porn including a walrus with a tooth brush and their trainer. Do you have anything? EDIT: Of course THIS has to be my highest rated comment... Will an elephant seal and a tourist work? Also, do you care if the tooth brush is motorized?
That depends does the elephant seal have control of the motorized tooth brush? Checking...
What is your technical background? Are you a programmer? Do you manage the tech of the website yourself or is it 'outsourced'? I've been programming full time for professional corporations and agencies for 15 years now. I do manage the tech myself, but I make heavy use of Amazon web services.
Is it legal to post that kind of content on AWS ? It's not not-legal.
Who moves more content than porn sites? AWS would be missing out on a large large profit if they didn't allow adult content.
I'm curious, how much did you make programming before you had this site? My last gig I made $135k. Before that, $120k.
How big was it? We'll just say he's not the king anymore. ;)
Does anyone ever actually click those share buttons? Share to... what? Facebook?
reddit, and google plus, etc. I wouldn't know. I don't have them on our site.
You mentioned good integration with Twitter earlier. That's for marketing? Like you have a twitter account for the site? I have a twitter account for the site, but the twitter integration I spoke of is a feature that lets studios connect their twitter account and have it auto-post a link when their video goes live.
Do you produce original content or do you buy content and resell it? Neither. We grant studios the access to upload their own clips and add their own meta data, set the price, etc. They get a majority % of the sale.
What's the average net profit of a typical clip, from a popular performer(s)? A couple of dollars. Most girls sell clips around $10, and of that they get to keep apx $6 - $7. Our net income for the clips are around 25%-40%. We give better rates to the better performing studios, to keep them interested and using our platform.
Me and my roommate have been toying around with the idea of starting a pron site, I have around 30k saved up, Would that be enough to start a redtube-ish website? Also whats the most expensive part of building a porn site? I.E. Licences , hosting, hardware, Hiring someone to build the website. Nice! Good luck with it. It's a challenging industry. Things that would take 20 minutes on a normal business can take days in the adult industry. (finding a payment processor, for example)
A redtube-style site would be quite a challenge, financially, I think. Policing it could also be pretty difficult.
The most expensive part, for me since I did all of my own design and programming, was getting VISA/MC approval for a high risk account. VISA has a $1000 annual fee and MC has a $500 annual fee, at least through my payment processor. Fees are also ass-rapingly high.
You can make use of Amazon Web Services to lower costs substantially.
How much would you guess it would cost to design and program a video hosting website? Also how hard was it in the beginning to get studios to sell their clips on your site? If I calculated it in hours spent on it myself, looking at around 3 months, so we'll say 500 hours. I charge $65/h if I ever take on freelance clients, so looking at about $32000 for someone at my rate. I'm expensive because of my extensive experience, so you can probably get it done for less.
751 studios 19,138 videos Apx 5000 visits per day - A good number of which are sent directly from the studios to purchase on the site or send a tribute.
Can you give us a rough description of your architecture? What OS/Web servelanguage do you use... Do you use a CDN to serve up the videos or do you host them yourself? And what bits of AWS do you use? How many EC2 instances? The site itself runs on a single server, a VM actually. It runs PHP with CodeIgniter for the framework and MySQL as the database. I make extensive use of CodeIgniter's caching abilities. Once the video is safely on S3, the studios can complete the meta data, pricing, and choose when the video goes live. All the video previews and gifs are uploaded to S3 and served through AWS Cloudfront CDN.
Thanks for your AMA, I'm finding this very interesting. I'm a developer (.net) who is looking for a niche where I can start up my own business... I know I'm not going to get rich working for a someone else... Congrats to you for doing this, and being very successful! Thanks! I'm the same way. I couldn't see myself becoming wealthy as an employee, even though my last paying job as a developer was $135k salaried. I have an FTP server setup where the usernames and passwords are powered by MySQL. Each studio gets their own FTP login. I have a cronjob that will run every few minutes and pick up files that are finished uploading and send them to Amazon S3 after gathering some basic meta information.
Thanks for the replys, Its giving me a valuable insight. One more question, How many people do you have employed? And what are their roles? I have myself, a consultant (she gets a profit split), and an assistant. Other than that, everything is fully automated. I didn't want to have to spend all my time on the site, so everything but customer support is automated -- all the accounting is done through Xero's API and I even have a porn-specific accountant/CPA.
Of the 5000 visits per day, approx. how many actually purchase a clip? Are you able to track repeat purchases (do they have to make an account to buy)? Or do you track another way? A dozen orders, maybe 30 on a good day.
Thank you again for answering my questions. :) No problem. I'm an open book. Feel free to keep asking questions.
Wait, how does that add up? If the site is turning over $300+k, then it should be making $1000 of sales a day. If you are only selling 10-30 clips a day then they would need to cost $30-100 each. Unless there are other revenue streams (such as tributes) which I'm missing? Tributes are at least half of the business.
I'd say you're like an open book with a couple pages stuck shut. ;) slow clap
Double entendre.
That really doesn't add up. you said most of the girls sell their clips for $10, you get 25-40% of that and you sell 12-30 a day. Lets assume the average clips sell for $15 to be safe, and you get 35% of that - you get $5.25 per clip. If you sell 25 in a day, you earn $131. My math may be off -- It's hard to spitball an average price. Some days I don't even look at the numbers. Clips alone can sell between $200 - $600 a day. Tributes sometimes into the multiple thousands in a day.
Have you ever met some of the girls in the videos from the professional studios? If positive, have you done anythign whit said girl/s? I know a few of them personally, but have only met one of them -- the girl who convinced me to build the site. She sleeps in my bed when she's in town, but I don't make any moves. Not sure how I would react if she did.
It may be worth noting at this point that personally, I'm into good girls. Risque women or "bad girls" don't do it for me, generally speaking.
I kid. Relax. Nope. The entire site is completely automated. All I do is approve the invoices in our online accounting software and handle customer support, which takes maybe an hour a week. :)
I wanna make that much money to do nothing! Start a porn site. :)
For me, it made sense as a money generating asset requiring little effort beyond the initial build.
laughs Oh man, my kids would be so proud of me! Seriously though, good on ya for seizing an efficient opportunity when it came your way. I can't hate on that at all. Again, it goes back to money generating assets. Getting money for doing nothing is exactly what you should be aiming for if you want to make lots of money. I can't see myself becoming wealthy while working for someone else.
Again, it goes back to money generating assets. My 'plan' for this just came together recently. I work for myself in the web/internet marketing realm. Focusing on recurring income is very important to financial growth and stability. Even better, recurring income plus economies of scale = wealth. Agreed.
Wow. That last sentence is incredibly poignant. Sorry. :)
It's just the personal conclusion I reached while evaluating my life.
How does your website stand with data privacy? Do you you sell customer's data on to ad companies or do you only make money off of the porn movies? Although it's fairly common industry practice, I don't participate in it. It's odd, but I try to run my business as professionally as possible. No ads, no link exchanges, no share buttons, no privacy violations. Also, I treat my studios with respect as any normal business would to any partner of theirs. It's surprisingly easy to stand out in the porn business when you abide by those rules.
What types of porn will you not let on your site? Spanking, anything that says "forced" or "rape", even if its clearly labeled as theatrical. Obviously nothing illegal... and no "hypnosis". Those are restrictions VISA/MC places on me. I've considered taking bitcoin on the new platform, but now I'm going to wait and see how this senate hearing thing plays out.
What is hypnosis porn? You're getting horny. Verrry horny. Look into my swirly eyes. Give me your monies. Giiive me your moniiieees.
How did you get started in the biz? I've been building websites for fortune 500 companies for 15 years now. Several years ago I reconnected with a girl I knew from IRC who did "financial domination" clips and cam shows. A few years ago (3 or so) she began suggesting I build a clip site. After a few months of this, and running numbers on what potential profits could be, I decided to do it.
Who did you have to bang to get that job? I had to bang keys for 12 years to teach myself how to program. From there it's just about having enough fortitude to start a business, and even moreso with an adult business. There's a certain stigma involved. Most people know me as "the guy with the porn site".
Why are there "Like" buttons and share buttons on porn sites? I have no idea. Who would share the porn they're watching? Kind of a personal thing.
Do you ever get approached by angry moms or family members asking you to take down their loved ones from the site? Not yet.
Maybe a weird question, but do you have to do a lot in your day to day life or is it something on the background where you have a lot of time? I don't have to do much at all. The site runs itself. I answer between 1 and 3 customer support emails per day and approve payouts to the studios once a month.
Other than that, I spend my time on my other business ideas and websites. Or I'll just sleep all day... Whatever I want to do, really.
Thats the dream. And probably the only reason I run my site. :)
Ever thought of taking a second job? i mean with that less stuff to do you can add another job for more money. I could, but my freedom to build my own businesses means more to me than income. As long as I can pay my bills and have my freedom, then I'm good.
Not sure if you're still on, but you really inspire me. I'm shitty with computers, and I plan on majoring in computer sciences(moreso in networking) and just reading your replies gives me hope that someday I'll have enough experience to start my own business/build clientele. Thanks. I'm not a big porn fan or anything, it's just a way I found to make ends meet while I work on my real plan. :)
Have you noticed any issues with piracy? Occasionally. I've found most people who spend money on the site either don't want to share something they've paid for, or would have an incredibly difficult time doing so.
What I mean is, a good portion of our demographic are middle-eastern men proxying through misc servers all over the US. They'd have a rough time uploading clips to another site.
Interesting demographics. People living in the Middle East, or just from there? Living in the middle east. Places where this kind of content is more than banned.
Any idea if this is normal for other sites as well? From what I understand, it's common for clip sites, financial domination sites and religious fetish sites.
So you circumvent piracy by offering content to people who aren't likely to distribute it? Is that your business model or just a happy coincidence? I have to say I'm surprised a porn site could be profitable considering how much free stuff there is out there. Don't sites like YouPorn and RedTube bury you? Happy coincidence. They totally bury me in traffic. I've found a niche that works well, though.
Is it true all the talent is now moving from Cali due to the condom laws and going to Las Vegas? I haven't heard too much about it from inside the industry. We do have a good amount of studios in Las Vegas, Florida, and England.
England. How is the industry over here? Strong on the seller side. The buyer side is particularly weak.
What do you think about 3D porn and virtual reality porn? 3D Porn is interesting, as is VR. I'm more interested in network controlled adult toys. I think its the future.
Agree about the network controlled toys. Have there been any newer advancements in this area that you know of? Theres a few newer ones on the market... a his & hers USB powered vibrator set I recently discovered. It might have been on kickstarter. It wasn't related to my site, I just came across it online.
How many times have people in videos sued or tried to take any legal action against you? None.
My biggest competitor did threaten to sue me, though. And they've gone after my top studios, trying to get them to leave my site... slandering my business in the process.
Can you sue for defamation or slander? You can.
I don't need to lose in court, I just need to be lawyer-fee'd to death. :(
Since you've been doing this for only a couple of years and it has been so financially successful for you, have you considered branching out into different types of porn sites? Or is this "buy a clip" the best business model you have found? I wouldn't want to do other types. The buy content/sell subscriptions never really worked for me as a customer, and the redtube style sites don't work for me numbers-wise. I'm very anti-advertising, so I wouldn't want to rely on that as a source of revenue. My consultant has tried to get me to create a thumb-gallery style site, but I'm not fond of the idea.
We are working on a new platform, though, which will require customer accounts and lets them stream the videos they unlock through HTML5 video. We've also reorganized the new platform into fetish verticals so we can try to capitalize on that. Our current discovery process admittedly sucks. There's a lot of videos on our site that are in the dark.
Do you see free sites such as pornhub and redtube as a source of lost profit? I don't see them as a threat. Some of the studios do, though. I've been told my new platform shouldn't have the video previews I'm planning (20 seconds of footage), as guys "jack off to the previews". I think it's better for the customer, though.
What day see's the most traffic on your site? Historically, Tuesdays. No idea why. Sundays are the slowest, by far.
I have always wanted to put my skills as an interaction designer to good use, by simply creating such a site as yours, especially for mobile devices or wearables. Augmented r porn ftw. You wouldn't need an intro, per se, it just helps. You could take out advertising on popular sites in your micro-industry and get some studios coming in. You could also tweet the studios directly, as they watch their twitter pretty well (it's how a lot of them communicate with their "pay-piggies").
However getting the content has always been the biggest issue (even in the netherlands)... If you never have met this girl that initially gave you the idea to start this up, would you've managed? Or is it near impossible to get enough good content to get started, without good contacts and, lets say, about 30k in cash? I would not have built the site without my consultant. It took a considerable amount of nudging from her to get me to build the site.
I know which website is yours :P Other than the people uploading clips, how many employees do you have and what are their jobs? :)
Just myself and my consultant (she also runs a studio). I have another "employee" who is helping me on another endeavor with the same parent company, currently uncompensated, whom I referred to as my assistant in another answer similar to this. Don't tell her that, though. She's much more helpful than an assistant.
How does someone find a job (not even a career!) in this field? My talents are webdesign and html(5)/css3. But I also wouldn't mind filming / writing / even acting although I'm out of shape. I just like porn that much. That -- I have no idea. Sorry.
Tl;dr and question: In Britain certain extreme content is becoming potentially illegal and porn, especially of certain types, is being vilified by the government. 1) What personal rules do you observe in terms of content you allow? 2) Are there any censorship rules in America that do/could affect content you post of extreme porno, and how do you deal with them? 2) As far as I'm aware, there aren't many rules about it. I haven't been gifted with too many "extreme porn" studios, though, so that's been a blessing. It makes me quite a bit uncomfortable.
Wouldn't you make more money offering the clips for free and making money off ad revenue? Probably not. That would require massive traffic which is both expensive to attain and expensive to pay for the bandwidth. My customers come to the site looking to spend money, and they don't get any big video files until they've paid for them. Additionally, splitting revenue with the studios would be considerably more difficult.
How often do you fap? No more than the average reddit user.
So all the time? I may or may not be fapping right now.
How old are you? Do you see yourself doing this for the rest of your life? Generally it seems that being your own boss is your dream job, but what specifically would you most like to do as your primary source of income? Or does this not matter to you? I'm in my late 20s. I don't see myself doing this for the rest of my life, but this is a means to free up my time. My time is invaluable to me since I can spend it building businesses outside the adult arena.
It matters very much to me. I'm not a genius and I'm not a wonder child. I started below middle class. I've had to work 4x harder than a lot of the talented people in my industry. The important thing is that I understand this and I'm willing to put the work in.
"What I lack in talent, I make up for with raw tenacity." - Henry Rollins.
Is is awkward or embarrassing saying what you do to friends and family? What about in relationships? If I were making millions, I'd be a little less "embarrassed". It's not so much embarrassing, I just understand that in current society it's frowned upon. For example, if I were looking for a job, some companies may not hire me because of my site. Some girls wouldn't date me because of it. It really depends on the person I tell.
Are you considering retiring soon or do you really wanna see your site take off? I've gone back and forth on whether or not to finish the new platform, but its so cool from a technological standpoint. Plus, I'm sitting on 20,000 clips with full permission to sell -- how could I not make a better site and give it a real go?
Do you watch your own clips? For humor content, sometimes yes. Nothing like a gorgeous girl backing her ass up to the camera and ripping the LOUDEST, JUICIEST fart you can imagine. I have pulled stomach muscles laughing at some of the clips.
Other than that, the content doesn't really interest me.
What is your view on 'NoFap'? or furthermore, the emerging evidence that porn addiction is a widespread problem that is affecting thousands/millions of people? I wasn't aware of it. I don't really have an opinion? I think as with all things, moderation is key. A lot of people are addicted to alcohol, but nobody is shaming liquor stores. At the end of the day, nobody is responsible for you but yourself. Might be a Libertarian thing, though.
Working hard, or hardly working? :D. I see this, and I understand it.
Do you have a girlfriend or wife? What did they think of the idea? I don't. But quite a few girls know and don't really care.
What's the difference between a website like yours and websites like the nsfw version of youtube? My site sells clips. You buy a clip for a price, you download it and its yours to view over and over. We have a profit sharing split with the studios who produced the clip. We're essentially a video sales platform.
How does the whole licensing thing go? Just shoot an email to a porn studio and be like "hey can I use your videos on my website? You get 30% of the revenue (; (; (;" I've always wondered how this sort of stuff worked in the "entertainment" field. They have to sign up on my site. I send out 1099s to domestic studios at the end of the year.
How did you get started, what made you decide to run a porn site? I had a friend who urged me to make it (She runs a studio). After about a year of constantly asking, and the timing was right, we ran numbers and it looked doable.
Do you have a fav porn star? I don't really have any favorites. I prefer "good girls".
Hi, do you ever have any trouble getting developers and designers to work on an 'Adult' website? I've never tried.
Also, can you recommend an adult payment gateway provider? As for the payment gateway, I'd recommend Netbilling. They'll work with you to find a merchant account provider and a gateway partner (they don't sell direct).
Last updated: 2013-08-23 09:47 UTC
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