Is Bitcoin Real Money? Some Things You Need To Know

Adult entertainment trough Devil´s Dragon Token

Adult entertainment trough Devil´s Dragon Token
Hello everyone, In this post I would like to talk about some of the DDGN Token features and company achievements.
https://preview.redd.it/of2xxl7gxtg51.png?width=640&format=png&auto=webp&s=b2ed2316a60511260102feb5f1a77750ff0c2c58
The company aims to revolutionize adult entertainment trough blockchain innovations presenting the opportunity to the user to be an active participant in this field using the Ecosystem. DEVIL´S DRAGON TOKEN is fully decentralized autonomous and encrypted. It offers the option to share, publish, and earn through selling, trading, exchanging, and utilizing the features of its ecosystem. A unique multi-use cryptocurrency with many active sites bringing new business models to life and disrupting the high set price of contemporary adult entertainment. DEVIL´S DRAGON TOKEN is a Ethereum based token that will be able to be used with any other Blockchain project or technology that is already operating.
DDGN is used on active sites to access related and wanted content. The full list can be found on the website by clicking on “Sites” or scrolling down. https://www.devilsdragon.com
TOKENOMICS. (ICO Information / Token Economy) Token name: DRAGON DEVIL Token Symbol: DDGN - Supply Token: 180 000 000 NOT MINTABLE Decimal: 18 - Token type: ERC20 CURRENT STATUS: Under Crowdsale with 5% PRE-SALE Token value 2000 DDGN = 1 ETH for PRIVATE - ONLY PRESALE In ITO sale the rate will be 1000 DDGN = 1 ETH START PRESALE: 2020-08-15 00:01 END: 2020-08-31 23:59
!Please note that only Ethereum is accepted. This will ensure transparency and prevent any fraudulent activities that may impact the value of the coins negatively!
Token Allocation: • Presale (PRIVATE SALE) 5% (All unsold tokens will be burned) • Crowdsale 55% (All unsold tokens will be burned) • Team & Partners 9% (Only used for new partnerships and strengthen the Team) • Reserved 6% (For Exchange and Legal Purposes) • Ecosystem 18% (Only used on our platforms like us write in our White Paper) • Development Team 2% (Used only for development and purposes none of these tokens will be sold) • Founder 4% (Used for administrative, regulatory and internal ecosystem needs only) • Ext Developer 1% (Non-Team Developers to be used for Testing and other Development Purposes on all Ecosystems and their features).
At this point DDGN is already listed on MyCryptoCheckout.
https://preview.redd.it/zgif2u4jxtg51.png?width=640&format=png&auto=webp&s=5ac7e157e30e1b15b5a7201370d3437deced898c
The ways to earn will be further possible by rewards and revenue sharing, live broadcasts, moderating content for the approval or disapproval of forum posts, mining for content, and arranging unused hard disk space. These are set just at the start point. The potential of the new features immense.
Presented Roadmap looks great: • Early 2018. KISSES TECH Established as a Czech Company (February) • Between the beginning of 2018 and the end of 2019. Fixed Adult Entertainment Coin + Many other projects related to Adult Entertainment and Blockchain to evolve and gather together: DDGN • Early 2020 Launch of the DDGN Project • Mid 2020 Launch of ETHpimp Q3 2020 ITO DDGN • Late 2020 Alpha version of the DDGN Dedicated Video Platform with a Decentralized Prize Service for Display and Manufacturing works with DDGN. On this platform the goal is to use a few supporting protocols such as ERC721 to make the videos like unique fine art creations. Luring a new business model which is fairer and more transparent. More Active Sites and More Partners for Ecosystems Alpha Version and Initial Registration First Delivery of Crowd Content Funding Network with Prizes & Decentralized Direct Revenue Sharing on the Stock exchange list
• Early 2021 DDGN Platform Beta Version Dedicated Videos that Live Immediately with Real Rewards and Share Earnings for Views & Creations CDCFN.COM Fully Active with the Distribution of Live Prizes and Adding New Sites to the Ecosystem makes DDGN more rare, enjoyable, and valuable to everyone involved.
Also surfing the blog (https://www.devilsdragon.com/blog) I found very interesting facts about CDCFN (Content Delivery Crowd Funding Network): www.cdcfn.com
A forum like website on which people share their original content and earn rewards in DDGN (Devil´s Dragon) Earned DDGN, as mentioned before will be available for exchanging to Bitcoin, Ethereum or other currency. The platform has a members shop, too, where members can earn and spend their earned tokens (DDGN) they gained from the site. Members Shop is integrated to work along side loads of other applications & plugins. Below is presented DDGN Tokens Earning System
  1. Forums - will allow member to earn tokens for starting topics, replying to other topics or to their own one.
  2. Downloads – Earning by uploading files on the platform, reviewing, commenting. Also receiving tokens for each download of their uploaded file.
  3. Calendar – Earning by submitting events, reviewing and commenting on the events.
  4. Gallery - Allowing members to earn for uploading images, reviewing and commenting on images.
  5. Commerce – Earning for a review on a product
  6. Reactions - Allowing members to earn DDGN Tokens for receiving reactions from their content.
  7. Clubs - Awarding users for joining a club and creating topics, replying and uploading files in clubs.
  8. Media Uploader - Awarding DDGN Tokens to users for uploading documents, images, audio and video files.
  9. Bonus DDGN Tokens – Awarding users on a daily, weekly and monthly basis. The user will have to log in at least on time in that period.
  10. Award DDGN Tokens - Awarding DDGN to your selected members or user groups via the ACP. On the user profile a section will be possible to add showing the amount of DDGN and a link to donate. The platform will have integrated Warning System which penalizes members if they receive a warning by removing DDGN tokens and setting different amounts of DDGN for different warn reasons. Members Shop Items – allowing members to spend their tokens Each item can be created unlimited times and admins can select different prices and permissions Creating categories to place the items in Setting moderator permissions to allow certain members to buy items for free All items use their own code Each item can have its own permission settings to select what usergroups can view it, buy it or send it Members can sell back their unwanted items at a cost of a certain % of the items price admins will set in the ACP After a user stores an item it will store the rewards for that purchase, so say they store multiple items, then at a later time admins change the rewards for that item in the ACP, they will still receive the rewards set when they purchased the item The list of default items: • Opening a random post count mystery box • Opening a random reputation DDGN Tokens mystery box • Changing username • Changing member title • Adding or editing signature • Uploading an avatar • Opening a mystery DDGN Tokens box • Opening a mystery items box • Resetting users´ warning DDGN Tokens • Allowing members to go browse anonymous until their session ends • Viewing a password from a password protected forum • Playing Rock, Paper, Scissors, Lizard, Spock • Allowing users to pin topics for a selected amount of days • Allowing members to feature files for a selected amount of days • Upgrading usergroup for x amount of days, months or years • Gambling to win a random trophy from Trophy’s & Medals • Buying a trophy from Trophy’s & Medals • Buying a medal from Trophy’s & Medals • Guessing the number • Embedding a video to profile • Uploading an image to use as a background on profile • Sending a personal sticky note • Adding / Editing social info • Custom Codes / Vouchers / Coupons • Creating custom codes for members to purchase including game codes / voucher codes and so on • Once a user redeems this item they will instantly receive a PM with the code attached
List of custom items: • Each Custom Item has to be manually awarded to the members, it could be for a coupon code, it could be anything • Choosing to receive a notification or email saying x member brought x custom item and admins need to award it • Showing a table in the ACP with all custom purchases users have brought showing if the item has been awarded or not • Adding a block to the ACP dashboard with the total amount of items admins need to award manually
Statistics Pages : • Shows a statistics page with a graph of the global DDGN Tokens gained on platform per day / week / month • Shows another statistics page with a graph of the amount of shop items purchased globally and the global DDGN Tokens spent per day / week / month • Shows a 3rd statistics page with a graph of the global DDGN Tokens won using items what you gamble your DDGN Tokens with
Members Bank: • Allowing members to store their DDGN Tokens in a bank • Charging members to deposit their DDGN Tokens • Awarding interest to members each month on their banked DDGN Tokens • Members can view all their transactions in a nice and tidy pop up table • Showing a table in the ACP with all the members who have created a bank account • Showing a 3D pie chart in the ACP with the DDGN Tokens per member group • Showing a 3D pie chart in the ACP with the current interest to pay per usergroup • Showing a graph of the banks transactions from your selected time periods
ACP: • Showing a table listing all Normal items purchased with all the information of the item purchase • Showing a table listing all custom items purchased with all the information of the item purchase • Showing a table listing all custom code items purchased with all the information of the purchase • Showing a table listing all the membergroup upgrade items purchased with all the information of the upgrade, expire date
• Choosing what user groups can gain DDGN Tokens with-in the forums / downloads / reaction settings • Generating unique purchases • Showing the shop items in a nice and clean node table giving you the ability to drag and drop them to different categories and sort them in your preferred positions • Selecting the amount of items to show per page in the shop and items page • Choosing the select to view the shop page / items page / rewards & logs page from either a table view or a nice new grid view • If admins allow users to send items to others admins can select a % of the value of the item to charge the users to send that item • Picking to show either a category in the sidebar of show the categories in a filter button on the table itself • Adding a block to the ACP dashboard showing the amount of custom items admins need to award to the users
With that said, I would like to hear your opinion about the project and the features that the team provides for us!
All this information and much more can be found on the below links.
Website: https://www.devilsdragon.com/
White paper: https://www.devilsdragon.com/whitepaper.pdf
Blog: https://www.devilsdragon.com/blog/
ANN: https://bitcointalk.org/index.php?topic=5260322
Facebook: https://www.facebook.com/devilsdragonofficial
Twitter: https://twitter.com/dragon_devils
Discord: https://discord.com/invite/xCwyntG
Reddit: https://www.reddit.com/useDevilsDragon
Telegram: https://t.me/devilsdragon_official
E-mail: [email protected]
Company behind of DDGN Token and development of the platform is KISSES TECHNOLOGY (Group) s.r.o
About the author: Proof of authentication link - https://bitcointalk.org/index.php?topic=5260492.msg54989967#msg54989967 Bitcointalk Username - ijeb Bitcointalk URL - https://bitcointalk.org/index.php?action=profile;u=1668500
submitted by ijeblowrider to u/ijeblowrider [link] [comments]

[TUTORIAL] -- How to SAFELY Claim New RNG Coins Using Your Private Keys

[TUTORIAL] -- How to SAFELY Claim New RNG Coins Using Your Private Keys

https://preview.redd.it/u4x1o4p37zc41.png?width=700&format=png&auto=webp&s=01d1ff52c0b7fc1c9ae5bb4f161979ad1f4bb559
I’m a longtime blockchain enthusiast and developer and one of my biggest gripes about this space is how quickly every new project is widely dismissed as a “scam” or “shitcoin” by so many people before it even gets off the ground. Sure, there is a lot of uncharted territory with pirates lurking to steal your bags left and right but with a small amount of personal education you can exist safely in the world of crypto I promise! With this article I aim to help lift your knowledge a little higher while helping keep your funds a little safer!

So What Is Happening?

On Tuesday February 18, 2020 a new coin named Ring (RNG) will be minted. This coin aims to bring two unique and fresh methods of proofing to the crypto game, quite literally: Agent-Based Hive Mining (borrowed from LCC) and Proof-of-Play Mining, where literal gameplay is used to hash and reward miners! To celebrate and help spread the word, the team is giving away claims of free RNG to all holders of the following coins:
  • Litecoin Cash (LCC)
  • Bitcoin (BTC)
  • Dash (DASH)
  • Dogecoin (DOGE)
It's being touted as the world's first crypto "4-way fork" but I'd really call it more of a "4-way claim" since its a brand new chain and not based on the code of any of the rewarded coins. It's simply a clever method of allowing a wider range of coin holders a chance to participate in the launch of these exciting new features!

How Will This Process Work?

On the 18th of February, a balance snapshot will be taken of the four chains listed above. Anyone holding a balance with any of these coins at the time of the snapshot will be forever eligible to claim their RNG at any time. Because the only way to prove ownership of a crypto address is to supply the private keys, and pretty much EVERYONE will tell you to guard those things with your life, below I will outline exactly what to do so there is absolutely 0% risk of losing a single satoshi! This method will apply to ANY claim rewards of any coin in the future as well. Always practice #SafeForking!

How Do I Safely Claim My RNG?

STEP 1 -- BEFORE THE SNAPSHOT -- VERIFY ACCESS TO YOUR PRIVATE KEYS
All core wallets will allow you to export a private key of any address in your wallet but many third party services like exchanges and hot wallets do not allow access to them. In these cases you will need to send your funds out of the third party service and into some kind of personal wallet where you can reach the private keys yourself. Then just wait for the snapshot to happen…
To make things easier on yourself, you can optionally collect your original coins into as few addresses as possible BEFORE the snapshot. Doing so reduces the number of keys you will need to empty and import later. It’s just less work!
\** SNAPSHOT HAPPENS HERE... ****
STEP 2 -- ATER THE SNAPSHOT -- EMPTY ALL ADDRESSES YOU WISH TO CLAIM
After the snapshot is confirmed, withdraw all coins OUT of each of your origin coin addresses into brand new addresses leaving the original ones quite empty. This way when you import later there is NO risk of losing anything! Also know that after you import these private keys you should never use them again for safety’s sake! It’s kind of the whole reason you’re even reading this article in the first place.
STEP 3 -- EXPORT PRIVATE KEYS FOR ALL ADDRESS YOU WISH TO CLAIM
This is the most difficult part, are you ready? Once each claim address is confirmed to be EMPTY, you must obtain each one’s private keys. This will entirely depend on the wallet you use (QT example below) but for all core wallets there is generally an option for exporting private keys somewhere in there. Collect them all!
How to Export QT Wallet Private Keys:⛔️ — DISABLE INTERNET FOR SAFETY — ⛔️- Open the QT wallet client- Click on HELP in the menu bar- Click on DEBUG WINDOW- Click on the CONSOLE tab- Click inside the input box at the bottom(if your wallet is locked…)- Type: walletpassphrase [Password] 600(this unlocks your wallet for 10 minutes)- Type: dumpprivkey [Address]- Copy the output hash, paste it into a list somewhere.(repeat as needed, clear your clipboard history after)- Type: walletlock (if applicable)⚡ — RE-ENABLE YOUR INTERNET —
STEP 4 -- IMPORT ALL PRIVATE KEYS INTO RNG CORE WALLET
\** PLEASE VERIFY THAT EVERY CLAIM ADDRESS IS EMPTY BEFORE CONTINUING... ****
The final step is to simply import each of these private keys into the new Ring Core Wallet to claim your free RNG rewards. The wallet handles this part automatically and you will see your new RNG balance right away. You can find this option under the File > Import Private Keys menu.
Importing a private key is the only way to prove ownership of a crypto address so this is unavoidable if you want to claim new coins from it. The steps above will allow you to prove ownership of your snapshotted address balance plus use its empty key to then claim your new coins thus keeping your original coins completely protected in the brand new address with a new private key (which you should now also keep VERY private!)
By emptying the address before you import it’s private key you eliminate the risk of theft entirely. One cannot take from an already empty jar. It should also be noted to NEVER use the imported address again as an added safety precaution*!*
👏👏👏 DONE! ENJOY YOUR FREE MONEY! 👏👏👏

How Much RNG Will I Receive?

Litecoin Cash holders will receive the highest claim ratio (5000 LCC = 1 RNG) as the LCC team are the ones responsible for creating Ring and wanted to extend a heart-felt thank you to the LCC community for their years of support. All other coins will be based on a 1:1 ratio with the value of Bitcoin at the time of the fork. This of course means 1 BTC = 1 RNG. For DASH and DOGE, however, their BTC market prices will determine their reward ratios. (For example if DASH is trading at 0.015 BTC each, then each DASH coin will net you a reward of 0.015 RNG to match.) Of course you don't need whole coins to claim, partial decimals work just fine!

What Value Will RNG Have?

That, my friends, is entirely up to the markets. No one in the history of crypto has had a perfect track record of price predictions so I'm not even going to try here. I will say, though, having gotten to play with their Testnet a bit so far that I am very impressed with the new Proof-of-Play method and how they have initially implemented it. It bodes very good things for the future of their project and this coin so I personally would expect its value to hold and most likely rise steadily as more people become aware of this groundbreaking new tech and it's potential to expand outward!

Is Litecoin Cash Still Going To Exist?

Absolutely! At least, from what I can gather. LCC has it's own purposes and will continue to be developed on. Ring is not meant to be a replacement or upgrade of any kind to Litecoin Cash. It is an entirely different proofing algorithm and a different mission statement altogether. It's more so meant to help expose the amazing new technologies developed on the LCC blockchain to a wider audience beyond simply its own fan base. If anything it'll act a sister chain that can help expose more folks to LCC in the future!

Disclaimer

While I am a moderator for the Litecoin Cash Discord server, I am writing this from an independent point of view as an educated crypto enthusiast with a passion for helping others navigate these waters. Having been an initial forker and third party developer on top of LCC myself, I feel I have some valuable insight into the direction the team is taking and I wanted to offer some sound advice for the upcoming Ring fork before the FUD gets caked on too thick.
I know a lot of people get scared easily in crypto because of the rampant scamming that goes on but I've watched this team work their asses off for two years to get out from under the stain of Charlie Lee's very biased, uneducated "its a scam" tweet which was endlessly parroted throughout the Litecoin community with nothing but blind party loyalty and no due diligence. The LCC folks are kind, wonderful hard-working people with big hearts and ambition and they have actually developed a unique proofing methodology that is likely going to impress a lot of people!
So before you go jumping on the "it's just another shitcoin" bandwagon please stop and take a real hard look at both Litecoin Cash (LCC) and Ring (RNG): two viable projects with something to bring to the table! If nothing else, hey, just claim your new coins and dump them off for some free money. You literally cannot lose if you PRACTICE SAFE FORKING!!!
Good luck, cryptonauts!
=A=
submitted by auscoine to RingCoin [link] [comments]

[TUTORIAL] -- How to SAFELY Claim New RNG Coins Using Your LCC Private Keys

[TUTORIAL] -- How to SAFELY Claim New RNG Coins Using Your LCC Private Keys

https://preview.redd.it/9csw52aw30d41.png?width=700&format=png&auto=webp&s=53ceb329c9772d7f0abbcc56b44ba405e34dd8a8
I’m a longtime blockchain enthusiast and developer and one of my biggest gripes about this space is how quickly every new project is widely dismissed as a “scam” or “shitcoin” by so many people before it even gets off the ground. Sure, there is a lot of uncharted territory with pirates lurking to steal your bags left and right but with a small amount of personal education you can exist safely in the world of crypto I promise! With this article I aim to help lift your knowledge a little higher while helping keep your funds a little safer!

So What Is Happening?

On Tuesday February 18, 2020 a new coin named Ring (RNG) will be minted. This coin aims to bring two unique and fresh methods of proofing to the crypto game, quite literally: Agent-Based Hive Mining (borrowed from LCC) and Proof-of-Play Mining, where literal gameplay is used to hash and reward miners! To celebrate and help spread the word, the team is giving away claims of free RNG to all holders of the following coins:
  • Litecoin Cash (LCC)
  • Bitcoin (BTC)
  • Dash (DASH)
  • Dogecoin (DOGE)
It's being touted as the world's first crypto "4-way fork" but I'd really call it more of a "4-way claim" since its a brand new chain and not based on the code of any of the rewarded coins. It's simply a clever method of allowing a wider range of coin holders a chance to participate in the launch of these exciting new features!

How Will This Process Work?

On the 18th of February, a balance snapshot will be taken of the four chains listed above. Anyone holding a balance with any of these coins at the time of the snapshot will be forever eligible to claim their RNG at any time. Because the only way to prove ownership of a crypto address is to supply the private keys, and pretty much EVERYONE will tell you to guard those things with your life, below I will outline exactly what to do so there is absolutely 0% risk of losing a single satoshi! This method will apply to ANY claim rewards of any coin in the future as well. Always practice #SafeForking!

How Do I Safely Claim My RNG?

STEP 1 -- BEFORE THE SNAPSHOT -- VERIFY ACCESS TO YOUR PRIVATE KEYS
All core wallets will allow you to export a private key of any address in your wallet but many third party services like exchanges and hot wallets do not allow access to them. In these cases you will need to send your funds out of the third party service and into some kind of personal wallet where you can reach the private keys yourself. Then just wait for the snapshot to happen…
To make things easier on yourself, you can optionally collect your original coins into as few addresses as possible BEFORE the snapshot. Doing so reduces the number of keys you will need to empty and import later. It’s just less work!
\** SNAPSHOT HAPPENS HERE... ****
STEP 2 -- ATER THE SNAPSHOT -- EMPTY ALL ADDRESSES YOU WISH TO CLAIM
After the snapshot is confirmed, withdraw all coins OUT of each of your origin coin addresses into brand new addresses leaving the original ones quite empty. This way when you import later there is NO risk of losing anything! Also know that after you import these private keys you should never use them again for safety’s sake! It’s kind of the whole reason you’re even reading this article in the first place.
STEP 3 -- EXPORT PRIVATE KEYS FOR ALL ADDRESS YOU WISH TO CLAIM
This is the most difficult part, are you ready? Once each claim address is confirmed to be EMPTY, you must obtain each one’s private keys. This will entirely depend on the wallet you use (QT example below) but for all core wallets there is generally an option for exporting private keys somewhere in there. Collect them all!
How to Export QT Wallet Private Keys:
⛔️ — DISABLE INTERNET FOR SAFETY — ⛔️
- Open the QT wallet client
- Click on HELP in the menu bar
- Click on DEBUG WINDOW
- Click on the CONSOLE tab
- Click inside the input box at the bottom
(if your wallet is locked…)
Type: walletpassphrase [Password] 600
(this unlocks your wallet for 10 minutes)
- Type: dumpprivkey [Address]
- Copy the output hash, paste it into a list somewhere.
(repeat as needed, clear your clipboard history after)
- Type: walletlock (if applicable)
⚡ — RE-ENABLE YOUR INTERNET — ⚡
DONE!
STEP 4 -- IMPORT ALL PRIVATE KEYS INTO RNG CORE WALLET
\** PLEASE VERIFY THAT EVERY CLAIM ADDRESS IS EMPTY BEFORE CONTINUING... ****
The final step is to simply import each of these private keys into the new Ring Core Wallet to claim your free RNG rewards. The wallet handles this part automatically and you will see your new RNG balance right away. You can find this option under the File > Import Private Keys menu.
Importing a private key is the only way to prove ownership of a crypto address so this is unavoidable if you want to claim new coins from it. The steps above will allow you to prove ownership of your snapshotted address balance plus use its empty key to then claim your new coins thus keeping your original coins completely protected in the brand new address with a new private key (which you should now also keep VERY private!)
By emptying the address before you import it’s private key you eliminate the risk of theft entirely. One cannot take from an already empty jar. It should also be noted to NEVER use the imported address again as an added safety precaution*!*
👏👏👏 DONE! ENJOY YOUR FREE MONEY! 👏👏👏

How Much RNG Will I Receive?

Litecoin Cash holders will receive the highest claim ratio (5000 LCC = 1 RNG) as the LCC team are the ones responsible for creating Ring and wanted to extend a heart-felt thank you to the LCC community for their years of support. All other coins will be based on a 1:1 ratio with the value of Bitcoin at the time of the fork. This of course means 1 BTC = 1 RNG. For DASH and DOGE, however, their BTC market prices will determine their reward ratios. (For example if DASH is trading at 0.015 BTC each, then each DASH coin will net you a reward of 0.015 RNG to match.) Of course you don't need whole coins to claim, partial decimals work just fine!

What Value Will RNG Have?

That, my friends, is entirely up to the markets. No one in the history of crypto has had a perfect track record of price predictions so I'm not even going to try here. I will say, though, having gotten to play with their Testnet a bit so far that I am very impressed with the new Proof-of-Play method and how they have initially implemented it. It bodes very good things for the future of their project and this coin so I personally would expect its value to hold and most likely rise steadily as more people become aware of this groundbreaking new tech and it's potential to expand outward!

Is Litecoin Cash Still Going To Exist?

Absolutely! At least, from what I can gather. LCC has it's own purposes and will continue to be developed on. Ring is not meant to be a replacement or upgrade of any kind to Litecoin Cash. It is an entirely different proofing algorithm and a different mission statement altogether. It's more so meant to help expose the amazing new technologies developed on the LCC blockchain to a wider audience beyond simply its own fan base. If anything it'll act a sister chain that can help expose more folks to LCC in the future!

Disclaimer

While I am a moderator for the Litecoin Cash Discord server, I am writing this from an independent point of view as an educated crypto enthusiast with a passion for helping others navigate these waters. Having been an initial forker and third party developer on top of LCC myself, I feel I have some valuable insight into the direction the team is taking and I wanted to offer some sound advice for the upcoming Ring fork before the FUD gets caked on too thick.
I know a lot of people get scared easily in crypto because of the rampant scamming that goes on but I've watched this team work their asses off for two years to get out from under the stain of Charlie Lee's very biased, uneducated "its a scam" tweet which was endlessly parroted throughout the Litecoin community with nothing but blind party loyalty and no due diligence. The LCC folks are kind, wonderful hard-working people with big hearts and ambition and they have actually developed a unique proofing methodology that is likely going to impress a lot of people!
So before you go jumping on the "it's just another shitcoin" bandwagon please stop and take a real hard look at both Litecoin Cash (LCC) and Ring (RNG): two viable projects with something to bring to the table! If nothing else, hey, just claim your new coins and dump them off for some free money. You literally cannot lose if you PRACTICE SAFE FORKING!!!
Good luck, cryptonauts!
=A=
submitted by auscoine to LCCofficial [link] [comments]

FUD Copy Pastas

**Last updated: May 30, 2018: Updated wallet info with release of Trinity.
This 4 part series from the IOTA foundation covers most of the technical FUD centered at IOTA.
https://blog.iota.org/official-iota-foundation-response-to-the-digital-currency-initiative-at-the-mit-media-lab-part-1-72434583a2
Also the official IOTA faq on iota.org answers nearly all of these questions if you want to hear the answers directly.
Purpose of Writing
Since posting FUD is so ridiculously low-effort in comparison to setting the record straight, I felt it necessary to put a log of copy-pastas together to balance the scales so its just as easy to answer the FUD as it was to generate it. So next time you hear someone say "IOTA is centralized", you no longer have to take an hour out of your day and spin your wheels with someone who likely had an agenda to begin with. You just copy-paste away and move on.
It's also worth mentioning IOTA devs are too damn busy working on the protocol and doing their job to answer FUD. So I felt a semblance of responsibility.
Here they are. These answers are too my understanding so if you see something that doesn't look right let me know! They are divided into the following categories so if you are interested in a specific aspect of IOTA you can scroll to that section.
1) WALLET
2) COMMUNITY
3) INVESTING
4) TECHNICAL

WALLET

IOTA was hacked and users funds were stolen!

First, IOTA was not hacked. The term “hacked” is thrown around way too brazingly nowadays and often used to describe events that weren’t hacks to begin with. Its a symptom of this space growing way too fast creating situations of the blind leading the blind and causing hysteria.
What happened:
Many IOTA users trusted a certain 3rd party website to create their seed for their wallets. This website silently sent copies of all the seeds generated to an email address and waited till it felt it had enough funds, then it took everyones money simultaneously. That was the ”hack”.
https://blog.iota.org/the-secret-to-security-is-secrecy-d32b5b7f25ef
The lesson:
The absolute #1 marketed feature of crypto is that you are your own bank. Of everything that is common knowledge about crypto, this is at the top. But being your own bank means you are responsible for the security of your own funds. There is no safety net or centralized system in place that is going to bail you out.
For those that don’t know (and you really should if you’ve invested in anything crypto), your seed is your username-pw-security question-backup email all rolled into one. Would you trust a no-name 3rd party website to produce your username+pw for your bank account? Because thats essentially what users did.
The fix:
Make your seed offline with the generators in the sidebar or use dice. This is outlined in the “how to generate wallet and seed” directly following.
The trinity and carriota wallets will have seed generators within them upon their release.

How to generate wallet and seed

1) Download official trinity wallet here
2) follow the instructions on the app.
3) Do not run any apps in conjunction with the trinity app. Make sure all other apps are completely closed out on your device.

Are you sure a computer can’t just guess my seed?

An IOTA seed is 81 characters long. There are more IOTA seed combinations than atoms in the universe. All the computers in the world combined would take millions billions of years just to find your randomly generated one that’s located somewhere between the 0th and the 2781st combination. The chance for someone to randomly generate the exact same seed as yours is 1 / (2781).
If you can’t fathom the number 27 ^ 81, this video should help:
https://www.youtube.com/watch?v=p8YIdmwcubc

Why is Trinity wallet taking so long!!??

Trinity is out. https://trinity.iota.org/

COMMUNITY

IOTA introduction video to share with family

https://youtu.be/LyC04NrJ3yA

Tangle visualizers

http://tangle.glumb.de/

How to setup a full node

Download Bolero and run! Bolero is an all-in-one full node install package with the latest IOTA IRI and Nelson all under a one-click install!
https://github.com/SemkoDev/bolero.fun/releases
"If you want to help the network then spam the network. If you really want to help the network then create a full node and let others spam you!"

No questions or concerns get upvoted, only downvoted!

That’s just the nature of this business. Everyone in these communities has money at stake and are extremely incentivized to keep only positive news at the top of the front page. There is nothing you're going to do about that on this subreddit or any crypto subreddit. It's just a reddit fact of life we have to deal with. Everyone has a downvote and everyone has an upvote. But what can be done is just simply answer the questions even if they are downvoted to hell. Yea most people wont' see the answers or discussion but that one person will. every little bit counts.
I will say that there are most certainly answers to nearly every FUD topic out there. Every single one. A lot of the posts I'm seeing as of late especially since the price spike are rehashed from months ago. They are often not answered not because there isn't an answeexplanation, but because regulars who have the answers simply don't see them (for the reason listed above). I can see how it's easy for this to be interpreted (especially by new users) as there not being an answer or "the FUDsters are on to something" but thats just not the case.

Developer's candidness (aka dev's are assholes!)

http://www.reddit.com/Iota/comments/7obyyx/serious_talk_about_pr_system_iota_and_david/ds8ouvc
http://www.reddit.com/Iota/comments/7obyyx/serious_talk_about_pr_system_iota_and_david/ds8rega
http://www.reddit.com/Iota/comments/7oi9g8/why_is_everyone_so_critical_of_david_this_has_to/ds9rtbb
https://i.redd.it/qb0ik4tgny401.jpg
Lastly and to no surprise, David conducts himself very professionally in this interview even when asked several tough questions about the coordinator and MIT criticism.

IOTA Devs do not respond appropriately to criticism

When critiquers provide feedback that is ACTUALLY useful to the devs, then sure they'll be glad to hear it. So far not once has an outside dev brought up something that the IOTA devs found useful. Every single time it ends up being something that was already taken into consideration with the design and if the critiquer did an ounce of research they would know that. Thus you often find the IOTA devs dismissing their opinion as FUD and responding with hostility because all their critique is really doing is sending the message to their supporters that they are not supposed to like IOTA anymore.
Nick Johnson was a perfect example of this. The Ethereum community was co-existing [peacefully]with IOTA’s community (as they do with nearly all alt coins) until Nick wrote his infamous article. Then almost overnight Ethereum decided it didn’t like IOTA anymore and we’ve been dealing with that shit since. As of today, add LTC to that list with Charlie’s (even admitting) ignorant judgement of IOTA.
12/17/2017: Add John McAfee (bitcoin cash) and Peter Todd (bitcoin) to the list of public figures who have posted ignorantly on IOTA.

A lot of crypto communities certainly like to hate on IOTA...

IOTA is disrupting the disrupters. It invented a completely new distributed ledger infrastructure (the tangle) that replaces the blockchain and solves all of its fundamental problems (namely fees and scaling). To give you an idea of this significance, 99% of the cryptocurrencies that exist are built on a block chain. These projects have billions of dollars invested into them meaning everyone in their communities are incentivized to see IOTA fail and spread as much FUD about it as possible. This includes well known organizations, public figures, and brands. Everyone commenting in these subreddits and crypto communities have their own personal money at stake and skin in the game. Misinformation campaigns, paid reddit posters, upvote/downvote bots, and corrupt moderators are all very real in this space.

INVESTING

How do I buy IOTA

https://medium.com/@fuo213/how-to-buy-iota-the-complete-guide-for-crypto-dummies-e63560caf921

What is the IOTA foundation?

IOTA foundation is a non-profit established in Germany and recognized by the European Union. Blog post here: https://blog.iota.org/iota-foundation-fb61937c9a7e

How many companies and organizations are interested, partnered or actively using IOTA?

A lot, and often too many to keep up with.
https://reddit.com/Iota/comments/7f3dmx/list_of_known_iota_partnerships_corporate/

How was IOTA distributed?

All IOTAs that will ever exist were sold at the ICO in 2015. There was no % reserved for development. Devs had to buy in with their personal money. Community donated back 5% of all IOTA so the IOTA foundation could be setup.

No inflation schedule? No additional coins? How is this sustainable?

Interestingly enough, IOTA is actually the only crypto that does not run into any problems with a currency cap and deflationaryism. Because there are zero fees, you will always be able to pay for something for exactly what it's worth using IOTA, no matter how small the value. If by chance in the future a single iota grows so large in value that it no longer allows someone to pay for something in fractions of a penny, the foundation would just add decimal points allowing for a tenth or a hundreth or a thousandth of an iota to be transacted with.
To give you some perspective, if a single IOTA equals 1 penny, IOTA would have a 27 trillion dollar market cap (100x that of Bitcoin's today)

IOTA is not for P2P, only for M2M

With the release of the trinity wallet, it's now dead simple for anyone to use IOTA funds for P2P. Try it out.

Companies technically don’t have to use the IOTA token

Yes they do
Worth clarifying that 0 iota data transactions are perfectly fine and are welcomed since they still provide pow for 2 other transactions and help secure the network. In the early stages, these types of transactions will probably be what give us the tps/pow needed to remove the coordinator and allow the network defend 34% attacks organically.
But... if someone does not want to sell or exchange their data for free (0 IOTA transaction), then Dominic is saying that the IOTA token must be used for that or any exchange in value on the network.
This is inherently healthy for the ecosystem since it provides a neutral and non-profit middle ground that all parties/companies can trust. If one company made their own token it wouldn’t be trusted since companies are incentivized by profits and nothing is stopping them from manipulating their token to make them more money. Thus, the IOTA foundation will not partner with anyone who refuses to take this option off the table.

All these companies are going to influence IOTA development!!

These companies have no influence on the development of IOTA. They either choose to use it or they don’t.

Internet of things is cheap and will stay cheap

Internet of things is one application of IOTA and considered by many to be the 4th industrial revolution. Go do some googling. IOTA having zero fees enables M2M for the first time in history. Also, if a crypto can do M2M it sure as shit can do M2P and P2P. M2M is hard mode.

IOTA surpassing speculation

IOTA, through the data marketplace and [qubic](qubic.iota.org), will be the first crypto to surpass speculation and actually be used in the real world for something. From there, it will branch out into other use cases, such as P2P. Or maybe P2P use of IOTA will grow in parallel with M2M, because why not?
https://blog.iota.org/iota-data-marketplace-cb6be463ac7f
12/19/17 update: Bosch reinforces IOTA's break-out from speculation by buying IOTA tokens for its future use in the data marketplace. https://i.redd.it/8e5b8bi9ov401.png
http://www.bosch-presse.de/pressportal/de/en/robert-bosch-venture-capital-makes-first-investment-in-distributed-ledger-technology-137411.html

Investing in a new project barely off the ground

Investing in a project in its early stages was something typically reserved for wealthy individuals/organizations before ICO’s became a thing. With early investing comes much less hand holding and more responsibility on the user to know what they are doing. If you have a hard time accepting this responsibility, don’t invest and wait for the technology to get easier for you. How many people actually knew how to use and mine bitcoin in 2009 before it had all its gui infrastructure?
IOTA is a tangle, the first of its kind. NOT a copy paste blockchain. As a result wallets and applications for IOTA are the first of their kind and translating the tangle into a nice clean user-friendly blockchain experience for the masses is even more taxing.

Why is the price of my coin falling?!

This may be the most asked question on any crypto subreddit but it's also the easiest to explain. The price typically falls when bad things happen to a coin or media fabricates bad news about a coin and a portion of investors take it seriously. The price increases when good things happen to a coin, such as a new exchange listing or a partnership announced etc.. The one piece that is often forgotten but trumps all these effects is something called "market forces".
Market forces is what happens to your coin when another coin gets a big news hit or a group of other coins get big news hits together. For example, when IOTA data marketplace released, IOTA hit a x5 bull run in a single week. But did you notice all the other alt coins in the red? There are a LOT of traders that are looking at the space as a whole and looking to get in on ANY bull action and will sell their other coins to do so. This effect can also be compounded over a long period of time such as what we witnessed when the bitcoin fork FOMO was going on and alt coins were squeezed continuously to feed it for weeks/months.
These examples really just scratch the surface of market forces but the big takeaway is that your coin or any coin will most certainly fall (or rise) in price at the result of what other coins are doing, with the most well known example being bitcoin’s correlation to every coin on the market. If you don't want to play the market-force game or don't have time for it, then you can never go wrong buying and holding.
It's also important to note that there are layers of investors. There's a top layer of light-stepping investors that are a mixture of day traders and gamblers trying to jump in and jump out to make quick money then look for the next buying (or shorting) opportunity at another coin. There's a middle layer of buyers and holders who did their research, believe in the tech and placing their bets it will win out in the long run. And the bottom layer are the founders and devs that are in it till the bitter end and there to see the vision realized. When a coin goes on a bull run, always expect that any day the top layer is going to pack up and leave to the next coin. But the long game is all about that middle layer. That is the layer that will be giving the bear markets their price-drop resistance. That is why the meme "HODL" is so effective because it very elegantly simplifies this whole concept for the common joe and makes them a part of that middle layer regardless if they understand whats going on or not.

TECHNICAL

How is IOTA free and how does it scale

IOTA is an altruistic system. Proof of work is done in IOTA just like bitcoin. Only a user’s device/phone must do pow for 2 other transactions before issuing one of its own. Therefore no miners and no fees. And the network becomes faster the more transactions are posted. Because of this, spamming the network is encouraged since they provide pow for 2 other transactions and speed up the network.

IOTA is centralized

IOTA is more decentralized than any blockchain crypto that relies on 5 pools of miners, all largely based in China. Furthermore, the coordinator is not a server in the dev’s basement that secretly processes all the transactions. It’s several nodes all around the globe that add milestone transactions to show the direction of the IF’s tangle within the DAG so people don’t accidentally follow a fork from a malicious actor. Anyone with the know-how can fork the tangle right now with a double-spend. But no one would follow their fork because the coordinator reveals which tangle is the legit IF one. If the coordinator wasn’t there (assuming low honest-transaction volume), there would be no way to discern which path to follow especially after the tangle diverges into forks of forks. Once throughout of honest transactions is significant enough, the “honest tangle” will replace the coordinated one and people will know which one to follow simply because it’s the biggest one in the room.
Referencing the coordinator is also optional.
Also, if you research and understand how IOTA intends to work without the coordinator, it’s easier to accept it for now as training wheels. I suggest reading pg 15 and on of the white paper analyzing in great depth how the network will defend different attack scenarios without a coordinator. For the past several months, IOTA foundation has been using St Petersburg college’s super computer to stress test IOTA and learn when they can turn the coordinator off. There will likely be a blog about the results soon.
This is another great read covering double spends on IOTA without a coordinator: www.tangleblog.com/2017/07/10/is-double-spending-possible-with-iota/
This too: http://www.reddit.com/Iota/comments/7eix4a/any_iota_guru_that_can_explain_what_this_guy_is/dq5ijrm
Also this correspondence with Vitalik and Come_from_Beyond https://twitter.com/DavidSonstebo/status/932510087301779456
At the end of the day, outstanding claims require outstanding evidence and folks approaching IOTA with a “I’ll believe it when I see it” attitude is completely understandable. It’s all about your risk tolerance.

Can IOTA defend double spend attacks?

99% of these “but did they think about double spend attacks?” type questions could just be answered if people went and did their own research. Yes of course they thought about that. That’s like crypto101…
www.tangleblog.com/2017/07/10/is-double-spending-possible-with-iota/

Will IOTA have smart contracts?

Yes - qubic.iota.org

Trinary vs binary?

"By using a ternary number system, the amount of devices and cycles can be reduced significantly. In contrast to two-state devices, multistate devices provide better radix economy with the option for further scaling"
https://www.nature.com/articles/srep36652
https://www.reddit.com/CryptoCurrency/comments/6jgbvb/iota_isnt_it_the_perfect_cryptocurrency/dje8os2/

Bitcoin with lightning network will make IOTA obsolete.

If you want lightning network, IOTA already released it. Called flash channels.
https://blog.iota.org/instant-feeless-flash-channels-88572d9a4385

IOTA rolled its own crypto!

https://blog.iota.org/official-iota-foundation-response-to-the-digital-currency-initiative-at-the-mit-media-lab-part-1-72434583a2
This is why: https://blog.iota.org/the-transparency-compendium-26aa5bb8e260
Cybercrypt has been hired to review and audit it. IOTA is currently running SHA-3/KECCAK now until Curl is ready.

MIT said bad things about IOTA

https://blog.iota.org/official-iota-foundation-response-to-the-digital-currency-initiative-at-the-mit-media-lab-part-1-72434583a2
And for official formal closure that MIT was completely wrong:
https://www.reddit.com/CryptoCurrency/comments/7svr8mit_media_lab_dci_allegations_proven_wrong_iotas/
https://blog.iota.org/curl-disclosure-beyond-the-headline-1814048d08ef
https://medium.com/@comefrombeyond/cfbs-comments-on-https-www-media-mit-edu-posts-iota-response-5834c7f8172d

Nick Johnson says IOTA is bad!

Nick Johnson is an ethereum dev who is incentivized to see IOTA fail, see CFBs twitter responses here.
https://mobile.twitter.com/nicksdjohnson/status/912676954184323073?lang=en
And this
https://t.co/1HgfPhg2lP
And this
https://www.reddit.com/Iota/comments/72lly0/comment/dnjk9f5?st=JB2VKUBB&sh=a2892548
And this
https://blog.iota.org/official-iota-foundation-response-to-the-digital-currency-initiative-at-the-mit-media-lab-part-1-72434583a2

IOTA is not private!

Masked authenticated messages exist right now so data can be transferred privately. Very important for businesses.

Coin privacy

Centralized coin mixer is out that foundation runs. Logs are kept so they can collect data and improve it Folks can copy the coin mixer code and run it themselves. Goal is for mixer to be decentralized and ran by any node.

How do nodes scale? How on earth can all that data be stored?

Full nodes store, update and verify from the last snapshot, which happens roughly every month. Its on the roadmap to make snapshotting automatic and up to each full node’s discretion.With automatic snapshots, each full node will act as a partial perma-node and choose when to snapshot its tangle data. If someone wants to keep their tangle data for several months or even years, they could just choose not to snapshot. Or if they are limited on hard drive space, they could snapshot every week.
Perma-nodes would store the entire history of the tangle from the genesis. These are optional and would likely only be created by companies who wish to sell historical access of the tangle as a service or companies who heavily use the tangle for their own data and want to have quick, convenient access to their data’s history.
Swarm nodes are also in development which will ease the burden on full nodes. https://blog.iota.org/iota-development-roadmap-74741f37ed01

Node discovery is manual? Wtf?

Nelson is fixing has fixed this:
https://medium.com/deviota/carriota-nelson-automatic-peer-discovery-for-iota-bdca9b8b8750
https://medium.com/deviota/carriota-nelson-in-a-nutshell-1ee5317d8f19
https://github.com/SemkoDev/nelson.cli

IOTA open source?

https://blog.iota.org/official-iota-foundation-response-to-the-digital-currency-initiative-at-the-mit-media-lab-part-1-72434583a2
IOTA protocol is open source. The coordinator is closed source open source.
https://imgur.com/a/xWQUp

Foundation moved user's funds?

https://blog.iota.org/official-iota-foundation-response-to-the-digital-currency-initiative-at-the-mit-media-lab-part-1-72434583a2
https://blog.iota.org/claims-and-reclaims-finalization-e692844c505a
https://www.reddit.com/Iota/comments/7mmimu/claims_and_reclaims_is_processing/drv63d5/

My IOTA donation address:

9PZFQNPLVDUNGAOYYMMXFWMGNPMNAJWZKTYOOMCYQTZQA9RPVVN9SE9KGOL9HWZFJBXKQGEOY9JJYDXB9TY9FLQPXB
submitted by mufinz2 to Iota [link] [comments]

CRYPTOCURRENCY BITCOIN

CRYPTOCURRENCY BITCOIN
Bitcoin Table of contents expand: 1. What is Bitcoin? 2. Understanding Bitcoin 3. How Bitcoin Works 4. What's a Bitcoin Worth? 5. How Bitcoin Began 6. Who Invented Bitcoin? 7. Before Satoshi 8. Why Is Satoshi Anonymous? 9. The Suspects 10. Can Satoshi's Identity Be Proven? 11. Receiving Bitcoins As Payment 12. Working For Bitcoins 13. Bitcoin From Interest Payments 14. Bitcoins From Gambling 15. Investing in Bitcoins 16. Risks of Bitcoin Investing 17. Bitcoin Regulatory Risk 18. Security Risk of Bitcoins 19. Insurance Risk 20. Risk of Bitcoin Fraud 21. Market Risk 22. Bitcoin's Tax Risk What is Bitcoin?
Bitcoin is a digital currency created in January 2009. It follows the ideas set out in a white paper by the mysterious Satoshi Nakamoto, whose true identity is yet to be verified. Bitcoin offers the promise of lower transaction fees than traditional online payment mechanisms and is operated by a decentralized authority, unlike government-issued currencies.
There are no physical bitcoins, only balances kept on a public ledger in the cloud, that – along with all Bitcoin transactions – is verified by a massive amount of computing power. Bitcoins are not issued or backed by any banks or governments, nor are individual bitcoins valuable as a commodity. Despite it not being legal tender, Bitcoin charts high on popularity, and has triggered the launch of other virtual currencies collectively referred to as Altcoins.
Understanding Bitcoin Bitcoin is a type of cryptocurrency: Balances are kept using public and private "keys," which are long strings of numbers and letters linked through the mathematical encryption algorithm that was used to create them. The public key (comparable to a bank account number) serves as the address which is published to the world and to which others may send bitcoins. The private key (comparable to an ATM PIN) is meant to be a guarded secret and only used to authorize Bitcoin transmissions. Style notes: According to the official Bitcoin Foundation, the word "Bitcoin" is capitalized in the context of referring to the entity or concept, whereas "bitcoin" is written in the lower case when referring to a quantity of the currency (e.g. "I traded 20 bitcoin") or the units themselves. The plural form can be either "bitcoin" or "bitcoins."
How Bitcoin Works Bitcoin is one of the first digital currencies to use peer-to-peer technology to facilitate instant payments. The independent individuals and companies who own the governing computing power and participate in the Bitcoin network, also known as "miners," are motivated by rewards (the release of new bitcoin) and transaction fees paid in bitcoin. These miners can be thought of as the decentralized authority enforcing the credibility of the Bitcoin network. New bitcoin is being released to the miners at a fixed, but periodically declining rate, such that the total supply of bitcoins approaches 21 million. One bitcoin is divisible to eight decimal places (100 millionths of one bitcoin), and this smallest unit is referred to as a Satoshi. If necessary, and if the participating miners accept the change, Bitcoin could eventually be made divisible to even more decimal places. Bitcoin mining is the process through which bitcoins are released to come into circulation. Basically, it involves solving a computationally difficult puzzle to discover a new block, which is added to the blockchain and receiving a reward in the form of a few bitcoins. The block reward was 50 new bitcoins in 2009; it decreases every four years. As more and more bitcoins are created, the difficulty of the mining process – that is, the amount of computing power involved – increases. The mining difficulty began at 1.0 with Bitcoin's debut back in 2009; at the end of the year, it was only 1.18. As of February 2019, the mining difficulty is over 6.06 billion. Once, an ordinary desktop computer sufficed for the mining process; now, to combat the difficulty level, miners must use faster hardware like Application-Specific Integrated Circuits (ASIC), more advanced processing units like Graphic Processing Units (GPUs), etc.
What's a Bitcoin Worth? In 2017 alone, the price of Bitcoin rose from a little under $1,000 at the beginning of the year to close to $19,000, ending the year more than 1,400% higher. Bitcoin's price is also quite dependent on the size of its mining network since the larger the network is, the more difficult – and thus more costly – it is to produce new bitcoins. As a result, the price of bitcoin has to increase as its cost of production also rises. The Bitcoin mining network's aggregate power has more than tripled over the past twelve months.
How Bitcoin Began
Aug. 18, 2008: The domain name bitcoin.org is registered. Today, at least, this domain is "WhoisGuard Protected," meaning the identity of the person who registered it is not public information.
Oct. 31, 2008: Someone using the name Satoshi Nakamoto makes an announcement on The Cryptography Mailing list at metzdowd.com: "I've been working on a new electronic cash system that's fully peer-to-peer, with no trusted third party. The paper is available at http://www.bitcoin.org/bitcoin.pdf." This link leads to the now-famous white paper published on bitcoin.org entitled "Bitcoin: A Peer-to-Peer Electronic Cash System." This paper would become the Magna Carta for how Bitcoin operates today.
Jan. 3, 2009: The first Bitcoin block is mined, Block 0. This is also known as the "genesis block" and contains the text: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks," perhaps as proof that the block was mined on or after that date, and perhaps also as relevant political commentary.
Jan. 8, 2009: The first version of the Bitcoin software is announced on The Cryptography Mailing list.
Jan. 9, 2009: Block 1 is mined, and Bitcoin mining commences in earnest.
Who Invented Bitcoin?
No one knows. Not conclusively, at any rate. Satoshi Nakamoto is the name associated with the person or group of people who released the original Bitcoin white paper in 2008 and worked on the original Bitcoin software that was released in 2009. The Bitcoin protocol requires users to enter a birthday upon signup, and we know that an individual named Satoshi Nakamoto registered and put down April 5 as a birth date. And that's about it.
Before Satoshi
Though it is tempting to believe the media's spin that Satoshi Nakamoto is a solitary, quixotic genius who created Bitcoin out of thin air, such innovations do not happen in a vacuum. All major scientific discoveries, no matter how original-seeming, were built on previously existing research. There are precursors to Bitcoin: Adam Back’s Hashcash, invented in 1997, and subsequently Wei Dai’s b-money, Nick Szabo’s bit gold and Hal Finney’s Reusable Proof of Work. The Bitcoin white paper itself cites Hashcash and b-money, as well as various other works spanning several research fields.
Why Is Satoshi Anonymous?
There are two primary motivations for keeping Bitcoin's inventor keeping his or her or their identity secret. One is privacy. As Bitcoin has gained in popularity – becoming something of a worldwide phenomenon – Satoshi Nakamoto would likely garner a lot of attention from the media and from governments.
The other reason is safety. Looking at 2009 alone, 32,489 blocks were mined; at the then-reward rate of 50 BTC per block, the total payout in 2009 was 1,624,500 BTC, which at today’s prices is over $900 million. One may conclude that only Satoshi and perhaps a few other people were mining through 2009 and that they possess a majority of that $900 million worth of BTC. Someone in possession of that much BTC could become a target of criminals, especially since bitcoins are less like stocks and more like cash, where the private keys needed to authorize spending could be printed out and literally kept under a mattress. While it's likely the inventor of Bitcoin would take precautions to make any extortion-induced transfers traceable, remaining anonymous is a good way for Satoshi to limit exposure.
The Suspects
Numerous people have been suggested as possible Satoshi Nakamoto by major media outlets. Oct. 10, 2011, The New Yorker published an article speculating that Nakamoto might be Irish cryptography student Michael Clear or economic sociologist Vili Lehdonvirta. A day later, Fast Company suggested that Nakamoto could be a group of three people – Neal King, Vladimir Oksman and Charles Bry – who together appear on a patent related to secure communications that were filed two months before bitcoin.org was registered. A Vice article published in May 2013 added more suspects to the list, including Gavin Andresen, the Bitcoin project’s lead developer; Jed McCaleb, co-founder of now-defunct Bitcoin exchange Mt. Gox; and famed Japanese mathematician Shinichi Mochizuki.
In December 2013, Techcrunch published an interview with researcher Skye Grey who claimed textual analysis of published writings shows a link between Satoshi and bit-gold creator Nick Szabo. And perhaps most famously, in March 2014, Newsweek ran a cover article claiming that Satoshi is actually an individual named Satoshi Nakamoto – a 64-year-old Japanese-American engineer living in California. The list of suspects is long, and all the individuals deny being Satoshi.
Can Satoshi's Identity Be Proven?
It would seem even early collaborators on the project don’t have verifiable proof of Satoshi’s identity. To reveal conclusively who Satoshi Nakamoto is, a definitive link would need to be made between his/her activity with Bitcoin and his/her identity. That could come in the form of linking the party behind the domain registration of bitcoin.org, email and forum accounts used by Satoshi Nakamoto, or ownership of some portion of the earliest mined bitcoins. Even though the bitcoins Satoshi likely possesses are traceable on the blockchain, it seems he/she has yet to cash them out in a way that reveals his/her identity. If Satoshi were to move his/her bitcoins to an exchange today, this might attract attention, but it seems unlikely that a well-funded and successful exchange would betray a customer's privacy.
Receiving Bitcoins As Payment
Bitcoins can be accepted as a means of payment for products sold or services provided. If you have a brick and mortar store, just display a sign saying “Bitcoin Accepted Here” and many of your customers may well take you up on it; the transactions can be handled with the requisite hardware terminal or wallet address through QR codes and touch screen apps. An online business can easily accept bitcoins by just adding this payment option to the others it offers, like credit cards, PayPal, etc. Online payments will require a Bitcoin merchant tool (an external processor like Coinbase or BitPay).
Working For Bitcoins
Those who are self-employed can get paid for a job in bitcoins. There are several websites/job boards which are dedicated to the digital currency:
Work For Bitcoin brings together work seekers and prospective employers through its websiteCoinality features jobs – freelance, part-time and full-time – that offer payment in bitcoins, as well as Dogecoin and LitecoinJobs4Bitcoins, part of reddit.comBitGigs
Bitcoin From Interest Payments
Another interesting way (literally) to earn bitcoins is by lending them out and being repaid in the currency. Lending can take three forms – direct lending to someone you know; through a website which facilitates peer-to-peer transactions, pairing borrowers and lenders; or depositing bitcoins in a virtual bank that offers a certain interest rate for Bitcoin accounts. Some such sites are Bitbond, BitLendingClub, and BTCjam. Obviously, you should do due diligence on any third-party site.
Bitcoins From Gambling
It’s possible to play at casinos that cater to Bitcoin aficionados, with options like online lotteries, jackpots, spread betting, and other games. Of course, the pros and cons and risks that apply to any sort of gambling and betting endeavors are in force here too.
Investing in Bitcoins
There are many Bitcoin supporters who believe that digital currency is the future. Those who endorse it are of the view that it facilitates a much faster, no-fee payment system for transactions across the globe. Although it is not itself any backed by any government or central bank, bitcoin can be exchanged for traditional currencies; in fact, its exchange rate against the dollar attracts potential investors and traders interested in currency plays. Indeed, one of the primary reasons for the growth of digital currencies like Bitcoin is that they can act as an alternative to national fiat money and traditional commodities like gold.
In March 2014, the IRS stated that all virtual currencies, including bitcoins, would be taxed as property rather than currency. Gains or losses from bitcoins held as capital will be realized as capital gains or losses, while bitcoins held as inventory will incur ordinary gains or losses.
Like any other asset, the principle of buying low and selling high applies to bitcoins. The most popular way of amassing the currency is through buying on a Bitcoin exchange, but there are many other ways to earn and own bitcoins. Here are a few options which Bitcoin enthusiasts can explore.
Risks of Bitcoin Investing
Though Bitcoin was not designed as a normal equity investment (no shares have been issued), some speculative investors were drawn to the digital money after it appreciated rapidly in May 2011 and again in November 2013. Thus, many people purchase bitcoin for its investment value rather than as a medium of exchange.
However, their lack of guaranteed value and digital nature means the purchase and use of bitcoins carries several inherent risks. Many investor alerts have been issued by the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), the Consumer Financial Protection Bureau (CFPB), and other agencies.
The concept of a virtual currency is still novel and, compared to traditional investments, Bitcoin doesn't have much of a long-term track record or history of credibility to back it. With their increasing use, bitcoins are becoming less experimental every day, of course; still, after eight years, they (like all digital currencies) remain in a development phase, still evolving. "It is pretty much the highest-risk, highest-return investment that you can possibly make,” says Barry Silbert, CEO of Digital Currency Group, which builds and invests in Bitcoin and blockchain companies.
Bitcoin Regulatory Risk
Investing money into Bitcoin in any of its many guises is not for the risk-averse. Bitcoins are a rival to government currency and may be used for black market transactions, money laundering, illegal activities or tax evasion. As a result, governments may seek to regulate, restrict or ban the use and sale of bitcoins, and some already have. Others are coming up with various rules. For example, in 2015, the New York State Department of Financial Services finalized regulations that would require companies dealing with the buy, sell, transfer or storage of bitcoins to record the identity of customers, have a compliance officer and maintain capital reserves. The transactions worth $10,000 or more will have to be recorded and reported.
Although more agencies will follow suit, issuing rules and guidelines, the lack of uniform regulations about bitcoins (and other virtual currency) raises questions over their longevity, liquidity, and universality.
Security Risk of Bitcoins
Bitcoin exchanges are entirely digital and, as with any virtual system, are at risk from hackers, malware and operational glitches. If a thief gains access to a Bitcoin owner's computer hard drive and steals his private encryption key, he could transfer the stolen Bitcoins to another account. (Users can prevent this only if bitcoins are stored on a computer which is not connected to the internet, or else by choosing to use a paper wallet – printing out the Bitcoin private keys and addresses, and not keeping them on a computer at all.) Hackers can also target Bitcoin exchanges, gaining access to thousands of accounts and digital wallets where bitcoins are stored. One especially notorious hacking incident took place in 2014, when Mt. Gox, a Bitcoin exchange in Japan, was forced to close down after millions of dollars worth of bitcoins were stolen.
This is particularly problematic once you remember that all Bitcoin transactions are permanent and irreversible. It's like dealing with cash: Any transaction carried out with bitcoins can only be reversed if the person who has received them refunds them. There is no third party or a payment processor, as in the case of a debit or credit card – hence, no source of protection or appeal if there is a problem.
Insurance Risk
Some investments are insured through the Securities Investor Protection Corporation. Normal bank accounts are insured through the Federal Deposit Insurance Corporation (FDIC) up to a certain amount depending on the jurisdiction. Bitcoin exchanges and Bitcoin accounts are not insured by any type of federal or government program.
Risk of Bitcoin Fraud
While Bitcoin uses private key encryption to verify owners and register transactions, fraudsters and scammers may attempt to sell false bitcoins. For instance, in July 2013, the SEC brought legal action against an operator of a Bitcoin-related Ponzi scheme.
Market Risk
Like with any investment, Bitcoin values can fluctuate. Indeed, the value of the currency has seen wild swings in price over its short existence. Subject to high volume buying and selling on exchanges, it has a high sensitivity to “news." According to the CFPB, the price of bitcoins fell by 61% in a single day in 2013, while the one-day price drop in 2014 has been as big as 80%.
If fewer people begin to accept Bitcoin as a currency, these digital units may lose value and could become worthless. There is already plenty of competition, and though Bitcoin has a huge lead over the other 100-odd digital currencies that have sprung up, thanks to its brand recognition and venture capital money, a technological break-through in the form of a better virtual coin is always a threat.
Bitcoin's Tax Risk
As bitcoin is ineligible to be included in any tax-advantaged retirement accounts, there are no good, legal options to shield investments from taxation.
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Read it once, go read other crypto stuff, read it again… keep doing this until the whole document makes sense. It’ll take a while, but you’ll get there. This is the original whitepaper introducing and explaining Bitcoin, and there’s really nothing better out there to understand on the subject.
“What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party

submitted by adrian_morrison to BlockchainNews [link] [comments]

Elaborating on Datadash's 50k BTC Prediction: Why We Endorse the Call

As originally published via CoinLive
I am the Co-Founder at CoinLive. Prior to founding Coinlive.io, my area of expertise was inter-market analysis. I came across Datadash 50k BTC prediction this week, and I must take my hats off to what I believe is an excellent interpretation of the inter-connectivity of various markets.
At your own convenience, you can find a sample of Intermarket analysis I've written in the past before immersing myself into cryptos full-time.
Gold inter-market: 'Out of sync' with VIX, takes lead from USD/JPY
USD/JPY inter-market: Watch divergence US-Japan yield spread
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Inter-market analysis: Risk back in vogue, but for how long?
USD/JPY intermarket: Bulls need higher adj in 10-y US-JP spread
The purpose of this article is to dive deeper into the factors Datadash presents in his video and how they can help us draw certain conclusions about the potential flows of capital into crypto markets and the need that will exist for a BTC ETF.
Before I do so, as a brief explainer, let's touch on what exactly Intermarket analysis refers to:
Intermarket analysis is the global interconnectivity between equities, bonds, currencies, commodities, and any other asset class; Global markets are an ever-evolving discounting and constant valuation mechanism and by studying their interconnectivity, we are much better positioned to explain and elaborate on why certain moves occur, future directions and gain insights on potential misalignments that the market may not have picked up on yet or might be ignoring/manipulating.
While such interconnectivity has proven to be quite limiting when it comes to the value one can extract from analyzing traditional financial assets and the crypto market, Datadash has eloquently been able to build a hypothesis, which as an Intermarket analyst, I consider very valid, and that matches up my own views. Nicolas Merten constructs a scenario which leads him to believe that a Bitcoin ETF is coming. Let's explore this hypothesis.
I will attempt to summarize and provide further clarity on why the current events in traditional asset classes, as described by Datadash, will inevitably result in a Bitcoin ETF. Make no mistake, Datadash's call for Bitcoin at 50k by the end of 2018 will be well justified once a BTC ETF is approved. While the timing is the most challenging part t get right, the end result won't vary.
If one wishes to learn more about my personal views on why a BTC ETF is such a big deal, I encourage you to read my article from late March this year.
Don't Be Misled by Low Liquidity/Volume - Fundamentals Never Stronger
The first point Nicholas Merten makes is that despite depressed volume levels, the fundamentals are very sound. That, I must say, is a point I couldn't agree more. In fact, I recently wrote an article titled The Paradox: Bitcoin Keeps Selling as Intrinsic Value Set to Explode where I state "the latest developments in Bitcoin's technology makes it paradoxically an ever increasingly interesting investment proposition the cheaper it gets."
However, no article better defines where we stand in terms of fundamentals than the one I wrote back on May 15th titled Find Out Why Institutions Will Flood the Bitcoin Market, where I look at the ever-growing list of evidence that shows why a new type of investors, the institutional ones, looks set to enter the market in mass.
Nicholas believes that based on the supply of Bitcoin, the market capitalization can reach about $800b. He makes a case that with the fundamentals in bitcoin much stronger, it wouldn't be that hard to envision the market cap more than double from its most recent all-time high of more than $300b.
Interest Rates Set to Rise Further
First of all, one of the most immediate implications of higher rates is the increased difficulty to bear the costs by borrowers, which leads Nicholas to believe that banks the likes of Deutsche Bank will face a tough environment going forward. The CEO of the giant German lender has actually warned that second-quarter results would reflect a “revenue environment [that] remains challenging."
Nicholas refers to the historical chart of Eurodollar LIBOR rates as illustrated below to strengthen the case that interest rates are set to follow an upward trajectory in the years to come as Central Banks continue to normalize monetary policies after a decade since the global financial crisis. I'd say, that is a correct assumption, although one must take into account the Italian crisis to be aware that a delay in higher European rates is a real possibility now.
![](https://coinlive.io/ckeditor_assets/pictures/947/content_2018-05-30_1100.png)
Let's look at the following combinations: Fed Fund Rate Contract (green), German 2-year bond yields (black) and Italy's 10-year bond yield (blue) to help us clarify what's the outlook for interest rates both in Europe and the United States in the foreseeable future. The chart suggests that while the Federal Reserve remains on track to keep increasing interest rates at a gradual pace, there has been a sudden change in the outlook for European rates in the short-end of the curve.
While the European Central Bank is no longer endorsing proactive policies as part of its long-standing QE narrative, President Mario Draghi is still not ready to communicate an exit strategy to its unconventional stimulus program due to protectionism threats in the euro-area, with Italy the latest nightmare episode.
Until such major step is taken in the form of a formal QE conclusion, interest rates in the European Union will remain depressed; the latest drastic spike in Italy's benchmark bond yield to default levels is pre-emptive of lower rates for longer, an environment that on one hand may benefit the likes of Deutsche Bank on lower borrowing costs, but on the other hand, sets in motion a bigger headache as risk aversion is set to dominate financial markets, which leads to worse financial consequences such as loss of confidence and hence in equity valuations.
![](https://coinlive.io/ckeditor_assets/pictures/948/content_2018-05-30_1113.png)
Deutsche Bank - End of the Road?
Nicholas argues that as part of the re-restructuring process in Deutsche Bank, they will be facing a much more challenging environment as lending becomes more difficult on higher interest rates. At CoinLive, we still believe this to be a logical scenario to expect, even if a delay happens as the ECB tries to deal with the Italian political crisis which once again raises the question of whether or not Italy should be part of the EU. Reference to an article by Zerohedge is given, where it states:
"One day after the WSJ reported that the biggest German bank is set to "decimate" its workforce, firing 10,000 workers or one in ten, this morning Deutsche Bank confirmed plans to cut thousands of jobs as part of new CEO Christian Sewing's restructuring and cost-cutting effort. The German bank said its headcount would fall “well below” 90,000, from just over 97,000. But the biggest gut punch to employee morale is that the bank would reduce headcount in its equities sales and trading business by about 25%."
There is an undeniably ongoing phenomenon of a migration in job positions from traditional financial markets into blockchain, which as we have reported in the past, it appears to be a logical and rational step to be taken, especially in light of the new revenue streams the blockchain sector has to offer. Proof of that is the fact that Binance, a crypto exchange with around 200 employees and less than 1 year of operations has overcome Deutsche Bank, in total profits. What this communicates is that the opportunities to grow an institution’s revenue stream are formidable once they decide to integrate cryptocurrencies into their business models.
One can find an illustration of Deutsche Bank's free-fall in prices below:
![](https://coinlive.io/ckeditor_assets/pictures/946/content_2018-05-30_1052.png)
Nicholas takes notes of a chart in which one can clearly notice a worrying trend for Italian debt. "Just about every other major investor type has become a net seller (to the ECB) or a non-buyer of BTPs over the last couple of years. Said differently, for well over a year, the only marginal buyer of Italian bonds has been the ECB!", the team of Economists at Citi explained. One can find the article via ZeroHedge here.
![](https://coinlive.io/ckeditor_assets/pictures/953/content_2018-05-30_1451.png)
Equities & Housing to Suffer the Consequences
Nicholas notes that trillions of dollars need to exit these artificially-inflated equity markets. He even mentions a legendary investor such as George Soros, who has recently warned that the world could be on the brink of another devastating financial crisis, on lingering debt concerns in Europe and a strengthening US dollar, as a destabilizing factor for both the US's emerging- and developed-market rivals.
Ray Dalio, another legend in the investing world and Founder of Bridgewater Associates, the world’s largest hedge fund, "has ramped up its short positions in European equities in recent weeks, bringing their total value to an estimated $22 billion", MarketWatch reports.
Nicholas extracts a chart by John Del Vecchio at lmtr.com where it illustrates the ratio between stocks and commodities at the lowest in over 50 years.
As the author states:
"I like to look for extremes in the markets. Extremes often pinpoint areas where returns can be higher and risk lower than in other time periods. Take the relationship between commodities and stocks. The chart below shows that commodities haven not been cheaper than stocks in a generation. We often hear this time it is different” to justify what’s going on in the world. But, one thing that never changes is human nature. People push markets to extremes. Then they revert. "
![](https://coinlive.io/ckeditor_assets/pictures/954/content_2018-05-30_1459.png)
Bitcoin ETF the Holy Grail for a Cyclical Multi-Year Bull Run
It is precisely from this last chart above that leads Nicholas to believe we are on the verge of a resurgence in commodity prices. Not only that but amid the need of all this capital to exit stocks and to a certain extent risky bonds (Italian), a new commodity-based digital currency ETF based on Bitcoin will emerge in 2018.
The author of Datadash highlights the consideration to launching a Bitcoin ETF by the SEC. At CoinLive, our reporting of the subject can be found below:
"Back in April, it was reported that the US Securities and Exchange Commission (SEC) has put back on the table two Bitcoin ETF proposals, according to public documents. The agency is under formal proceedings to approve a rule change that would allow NYSE Arca to list two exchange-traded funds (ETFs) proposed by fund provider ProShares. The introduction of an ETF would make Bitcoin available to a much wider share of market participants, with the ability to directly buy the asset at the click of a button, essentially simplifying the current complexity that involves having to deal with all the cumbersome steps currently in place."
Nicholas refers to the support the Bitcoin ETF has been receiving by the Cboe president Chris Concannon, which is a major positive development. CoinLive reported on the story back in late March, noting that "a Bitcoin ETF will without a doubt open the floodgates to an enormous tsunami of fresh capital entering the space, which based on the latest hints by Concannon, the willingness to keep pushing for it remains unabated as the evolution of digital assets keeps its course."
It has been for quite some time CoinLive's conviction, now supported by no other than Nicholas Merten from Datadash, that over the next 6 months, markets will start factoring in the event of the year, that is, the approval of a Bitcoin ETF that will serve as a alternative vehicle to accommodate the massive flows of capital leaving some of the traditional asset classes. As Nicholas suggests, the SEC will have little choice but to provide alternative investments.
Bitcoin as a Hedge to Lower Portfolios' Volatility
Last but not least, crypto assets such as Bitcoin and the likes have an almost non-existent correlation to other traditional assets such as stocks, bonds, and commodities, which makes for a very attractive and broadly-applicable diversification strategy for the professional money as it reduces one’s portfolio volatility. The moment a Bitcoin ETF is confirmed, expect the non-correlation element of Bitcoin as a major driving force to attract further capital.
Anyone Can Be Wrong Datadash, But You Won't be Wrong Alone
Having analyzed the hypothesis by Nicholas Merten, at CoinLive we believe that the conclusion reached, that is, the creation of a Bitcoin ETF that will provide shelter to a tsunami of capital motivated by the diversification and store of value appeal of Bitcoin, is the next logical step. As per the timing of it, we also anticipate, as Nicholas notes, that it will most likely be subject to the price action in traditional assets. Should equities and credit markets hold steady, it may result in a potential delay, whereas disruption in the capital market may see the need for a BTC ETF accelerate. Either scenario, we will conclude with a quote we wrote back in March.
"It appears as though an ETF on Bitcoin is moving from a state of "If" to "When."
Datadash is certainly not alone on his 50k call. BitMEX CEO Arthur Hayes appears to think along the same line.
On behalf of the CoinLive Team, we want to thank Nicholas Merten at Datadash for such enlightening insights.
submitted by Ivo333 to BitcoinMarkets [link] [comments]

Transcript of Developer Meeting in Discord - March 29, 2019

Pho3nix Monk3y03/29/2019
Is this unlocked?
oh cool. yes it is
Guess we need an admin to unlock it. Some of our devs cant type in here yet.
@shiggidy @traysi ★★★★★ Can yall unlock this channel?
traysi ★★★★★03/29/2019
Should be open now
bhorn03/29/2019
open!
GhostDogsGhost03/29/2019
heya!
SamzOnline [w1ne]03/29/2019
Woot
theking03/29/2019
Glad to be here.
traysi ★★★★★03/29/2019
@Jeroz can you type now?
Jeroz03/29/2019
Works now
ty
Pho3nix Monk3y03/29/2019
Great. Didn't really have an agenda for this meeting I'm told. Can open it up? Anyone have anything to start?
Bianca_NL03/29/2019
YaY
GhostDogsGhost03/29/2019
testnet voting on messaging bip?
Pho3nix Monk3y03/29/2019
I like it.
@GhostDogsGhost You might be the main "answerer of questions" for this. Not sure where @[Dev-Happy] Blondfrogs is.
GhostDogsGhost03/29/2019
anyone know if it's passed? if and when it'd be great to get some usage
Vincent03/29/2019
all good @traysi ★★★★★
Jeroz03/29/2019
Messaging is active on testnet now. The vote passed.
traysi ★★★★★03/29/2019
I'll try to clean up the permissions for this channel to make it simpler for future meetings.
Jeroz03/29/2019
There is no GUI yet to test it.
GhostDogsGhost03/29/2019
sweet -- yeah just rpc for now
[Dev-Happy] Blondfrogs03/29/2019
here
Pho3nix Monk3y03/29/2019
yay
[Dev-Happy] Blondfrogs03/29/2019
So, for messaging. There is not GUI, we really want to test the protocol which you can use fully through the rpc console.
We understand that this limits the number of users that will want to do testing but we wanted to get it out there asap to find bugs
Jeroz03/29/2019
Is there list of commands / little guide on how to get started with them in the console?
[Dev-Happy] Blondfrogs03/29/2019
Also, we wanted to let everyone know that we are going to try and get messaging protocol and restricted assets on mainnet at the same time. This means that the release for messaging might be delayed by a couple weeks. The devs are working really hard to make this happen and hope that the community is willing to wait a little longer for mainnet messaging.
There are commands like sendmessage listmessages and subscribe rpc calls yes
Jeroz03/29/2019
That would mean 1 hardfork instead of 2 right?
[Dev-Happy] Blondfrogs03/29/2019
Exactly @Jeroz
[Master] Roshii03/29/2019
Hello!
[Dev-Happy] Blondfrogs03/29/2019
Also, the Qt for messaging wont be released until after the hardfork, but the Qt for messaging and restricted assets would be in the same release.
S1LVA | GetRavencoin.org03/29/2019
Hello! Thanks for holding this meeting.
Jeroz03/29/2019
Will dividends also be included to that? @WhaleStreet (BW) (not sure if you are here)
[Dev-Happy] Blondfrogs03/29/2019
Dividends can be released at anytime it is completed as it doesn't require a hardfork
Jeroz03/29/2019
I meant the GUI update
S1LVA | GetRavencoin.org03/29/2019
For restricted assets, will owners of !uniquename have a grace period to claim $uniquename ?
[Dev-Happy] Blondfrogs03/29/2019
I am not sure on the GUI for dividends.
We are still figuring out if we are going to allow for a grave period or not. I think we are leading to the answer of Yes there will be a grace period.
but we aren't sure yet
SamzOnline [w1ne]03/29/2019
I've been studying and out of the loop of the RVN scene for a long time - is there any chance of someone updating me on what y'all talking about?
Pho3nix Monk3y03/29/2019
We have also been going through and cleaning up issues in GitHub. Tried to clean up tags in there as well. We will probably start going though those on a weekly ->monthly basis to stay ahead of things.
Vincent03/29/2019
community seens to agree !ASSET has exclsuvie on $ASSET
GhostDogsGhost03/29/2019
Silva -- that's open for discussion -- I think the general sentiment is that there should be some preference given to current asset owners
[Dev-Happy] Blondfrogs03/29/2019
@SamzOnline [w1ne] We are talking about the roadmap and how the development of the new features are coming along.
SamzOnline [w1ne]03/29/2019
Lovely many thanks
Vincent03/29/2019
what is the justification on only a grace period?
S1LVA | GetRavencoin.org03/29/2019
Is it possible to reissue a !ownership as a $ownership?
Jeroz03/29/2019
@SamzOnline [w1ne]
https://medium.com/@tronblack/ravencoin-tags-and-restricted-assets-84fe3070a226
https://medium.com/@tronblack/ravencoin-kaaawww-2f72077aece
[Dev-Happy] Blondfrogs03/29/2019
@Vincent I don't think is has exclusive rights. More like a first right of refusal for a couple months
Synicide03/29/2019
agree there should be some kind of grace period, or users that originally registered those assets will feel shafted
Vincent03/29/2019
but what is that justification?
if you are building Applein ur garage, you may need a few yrs to go public
S1LVA | GetRavencoin.org03/29/2019
Issue being assets will cease to be unique with two different types about
[Dev-Happy] Blondfrogs03/29/2019
True.
We aren't sure on what approach will be taken yet
Synicide03/29/2019
should regular and restricted assets share the same 'uniqueness of naming'?
[Dev-Happy] Blondfrogs03/29/2019
Please the community let us know what you think is fair.
This topic will 100% need to be discussed a lot
Vincent03/29/2019
when it was announced, there was a lot of discussion; most seemed to agree
SamzOnline [w1ne]03/29/2019
@Jeroz Many thanks
[Dev-Happy] Blondfrogs03/29/2019
If the consensus is that we shouldn't allow for ASSET! and $ASSET to be issued by different people then we will need to make sure that is the right approach. The code hasn't been written yet.
GhostDogsGhost03/29/2019
Some of this will depend on what we end up pricing the $ASSETS at (burn for issuance)..
Vincent03/29/2019
prcing shouldnt matter imo
S1LVA | GetRavencoin.org03/29/2019
We need to determine how important unique asset names are, for varying types.
Vincent03/29/2019
should be the owner of the asset name
[Dev-Happy] Blondfrogs03/29/2019
@S1LVA | GetRavencoin.org Exactly
push | ravenland.org03/29/2019
hey all, sorry im late :thumbsup:
[Dev-Happy] Blondfrogs03/29/2019
Howdy
Synicide03/29/2019
If someone registers !company123, and starts building a platform for themselves, seems they should be given an option to convert to $company123, and shouldnt have to worry about another party creating $company123
[Dev-Happy] Blondfrogs03/29/2019
They will be given that option
Vincent03/29/2019
indefinately
[Dev-Happy] Blondfrogs03/29/2019
the question is, is that option going to exist for forever, or maybe only 4 months
Vincent03/29/2019
then the worry still exists
Rikki RATTOE Sr. SEC Impresantor03/29/2019
I definitely vote for ! And $ to only be issued by the same people
Synicide03/29/2019
lets say they choose not to, can someone else create $company123? Or is that unqiue name shared?
S1LVA | GetRavencoin.org03/29/2019
I believe, ideally, a reissuance option would be available at anytime from !ownership
[Dev-Happy] Blondfrogs03/29/2019
@Synicide That decision hasn't been made yet
theking03/29/2019
@[Dev-Happy] Blondfrogs I do agree that releasing both messaging and restricted assets at same time makes sense so there is only one hard fork. What is the current thinking on tentative timeline before they would both be on main net?
push | ravenland.org03/29/2019
im excited about this memo indication, its useful because it means a buyer of an asset sending rvn can indicate the 'return address' without the 'seller of the asset receiving ravencoin' having to transverse the full vin/vout chain to obtain the source address to dispatch asset to. Is there a timeline for this feature or any documentation on it @[Dev-Happy] Blondfrogs ?
Synicide03/29/2019
my 2 cents, they should be a shared pool of unique names. The door is opened for scammers galore if it isnt.
[Dev-Happy] Blondfrogs03/29/2019
@theking A couple months atleast.
To make sure it is tested on testnet for long enough
theking03/29/2019
That makes perfect sense!
[Dev-Happy] Blondfrogs03/29/2019
@push | ravenland.org It will be on mainnet as soon as it and restricted assets are tested. Is the goal
push | ravenland.org03/29/2019
excellent, i look forward to it
Chill03/29/2019
Thank you for taking the time to bring up the ! and $ ownership issue. It's of extreme importance imo
push | ravenland.org03/29/2019
its gods work your doing there
bitnaive03/29/2019
yeah it seems like any modifiers to the original !NAME should belong to !NAME
DirkDiggler (RVN ded)03/29/2019
I would like to voice concern over the idea of the "grace period".... The idea of a UNIQUE asset name is key to our success. Many of us jumped on names we wanted. This doesn't feel right to need to have yet another name floating around if it's not controlled by the !OWNERSHIP token
S1LVA | GetRavencoin.org03/29/2019
@Chill NP :p
Rikki RATTOE Sr. SEC Impresantor03/29/2019
Yes please on only 1 hard fork
Chill03/29/2019
unique is unique. I have 510 of them!
Synicide03/29/2019
@DirkDiggler (RVN ded) grace peroid wont matter if the naming pool is shared for uniqueness
[Dev-Happy] Blondfrogs03/29/2019
So, If I own GOOGLE!, and I don't want $GOOGLE, no one should be allowed to own it?
DirkDiggler (RVN ded)03/29/2019
exactly
S1LVA | GetRavencoin.org03/29/2019
@[Dev-Happy] Blondfrogs Ideally, yes
bhorn03/29/2019
that feels right to me
Jeroz03/29/2019
yes
SamzOnline [w1ne]03/29/2019
Interesting
DirkDiggler (RVN ded)03/29/2019
yes
Rikki RATTOE Sr. SEC Impresantor03/29/2019
@[Dev-Happy] Blondfrogs I'm good w that
Synicide03/29/2019
that makes the most sense to me. As said, opens the door to scammers if not
Rikki RATTOE Sr. SEC Impresantor03/29/2019
Would add extra value to the ownership token as well
S1LVA | GetRavencoin.org03/29/2019
If more power is given to !ownership(changing type), more value is added to said asset, by way of design and ability
Vincent03/29/2019
and if you want to covert your assets to restricted yrs from now you will have a logistic nightmare if you have a bunch of owners
[Dev-Happy] Blondfrogs03/29/2019
I feel like, if we give people the option to register the restricted asset $ and they don't want it, that it is only fair that it is up for grabs
bitnaive03/29/2019
maybe no one else should be allowed to issue it but it can be transferred
Vincent03/29/2019
why?
Chill03/29/2019
I really don't think that's fair, to be honest
S1LVA | GetRavencoin.org03/29/2019
@[Dev-Happy] Blondfrogs Unique names are lost, in that case.
And in that way, !ownership loses value by not having the ability to change, if need be
Rikki RATTOE Sr. SEC Impresantor03/29/2019
Yeah I'd rather see the one name issued only forever
bitnaive03/29/2019
that way, if some one wants it. the can contact the owner for it.
[Dev-Happy] Blondfrogs03/29/2019
I think restricted assets have a different use case than regular assets, and they can be frozen.
Vincent03/29/2019
i can buy ravenland and revent push from moving forward with is project (after grace)
DirkDiggler (RVN ded)03/29/2019
seems like from a "code" perspective... the idea of 2 different (but similar names) would be a nightmare as well
Jeroz03/29/2019
Ideally give reissuable the extra option of making it restricted in my mind. I have mixed feelings about tokens traveling around that have the same asset name but are a different type.
Vincent03/29/2019
all his logos would have to change to his new name
S1LVA | GetRavencoin.org03/29/2019
They not have them remain one in the same? With the ability to change to restricted, should they have to. Though reissuance?
[Dev-Happy] Blondfrogs03/29/2019
@Vincent That is why push would have plenty of time to pick up the ravenland restricted asset if he wanted it
Rikki RATTOE Sr. SEC Impresantor03/29/2019
One of our selling points over ETH is that ETH can issue a bunch of the same named assets as long as the contract address is different
Vincent03/29/2019
bbut who says what is enough time
i may need yrs
bhorn03/29/2019
the extra cost could be onerous as well
Chill03/29/2019
when the asset layer was launched, it was billed as being unique names. Be careful in changing this, please.
[Dev-Happy] Blondfrogs03/29/2019
True, that amount of time isn't determined yet, if this is the route that is taken
bhorn03/29/2019
some have many many many assets
Rikki RATTOE Sr. SEC Impresantor03/29/2019
RVN, u issue that name once, it can never be duplicated
DirkDiggler (RVN ded)03/29/2019
where as having just another sub asset type ($RESTRICTED) falls under the same hierarchy already defined
bhorn03/29/2019
and the RVN is not as cheaply replaced
[Dev-Happy] Blondfrogs03/29/2019
@Chill Not changing that, just talking about the next asset usecase and how it could be coded is all
Rikki RATTOE Sr. SEC Impresantor03/29/2019
What kind of burn costs are we thinking w issuing restricted assets?
Synicide03/29/2019
@[Dev-Happy] Blondfrogs what if push decides not to, then someone else registers it for malicious intent with the same name? Surely the person who built their company on chain doesnt want another token of their company name out there
Vincent03/29/2019
@[Dev-Happy] Blondfrogs you seem to be the only one fighting for the garce period
[Dev-Happy] Blondfrogs03/29/2019
@Rikki RATTOE Sr. SEC Impresantor Not sure yet, going to be more than regular issuanace is the thought.
Rikki RATTOE Sr. SEC Impresantor03/29/2019
Agreed
S1LVA | GetRavencoin.org03/29/2019
@Vincent Simply bringing it into conversation, no harm
[Dev-Happy] Blondfrogs03/29/2019
@Vincent Not fighting, just keeping an open mind. I just code it, I am not the one making the decision.
push | ravenland.org03/29/2019
hey this is a bit of a random question but i get a lot of subassets send to me, what about wildcard sending via the wallet? like if i wanted to send RAVENLAND/* to an address
Vincent03/29/2019
true but just showing what the concesous is
[Dev-Happy] Blondfrogs03/29/2019
@push | ravenland.org Create a request in the issues on github for extra functionality
push | ravenland.org03/29/2019
:thumbsup:
will do mate
Synicide03/29/2019
seems if ! and $ arent shared unique, then companies will have to register both just to protect themselves
Rikki RATTOE Sr. SEC Impresantor03/29/2019
How about a unique asset w re-issuable IPFS?
S1LVA | GetRavencoin.org03/29/2019
We should be giving more power to !ownership by allowing it the ability to change to $ - Not giving less power to !ownership by duplicating unique names.
Rikki RATTOE Sr. SEC Impresantor03/29/2019
GUNCERT provided a valid use case IMO for unique w re-issuable IPFS
[Dev-Happy] Blondfrogs03/29/2019
@Vincent Sure I get that.
Sevvy (not worried til 500sats)03/29/2019
Agrees
If this is a possibility, to give the restricted assets to those who own the normal ones, it ought to be done
[Dev-Happy] Blondfrogs03/29/2019
@Rikki RATTOE Sr. SEC Impresantor Looking in on how to do that. The request is on github just don't have the time to implement it yet.
restricted assets, will have to be issued. and the corresponding amount of rvn will be burned for them
push | ravenland.org03/29/2019
it'd be nice to see a ravencoin network swarm, us and mango farms are doing something with that so if anyone else wants to get involved, i think its a worthwhile thing to build the power of the ravencoin ipfs hash network to keep them hashes alive
Sevvy (not worried til 500sats)03/29/2019
Yikes
Ah well
push | ravenland.org03/29/2019
i wrote a programmatic script to scrape all the ipfs files, so i can probably runa simple enough shellscript to ipfs add pin everything from chain
Vincent03/29/2019
plus ravenland sent me a bunch of tokens...they will be worthless now!!! :sunglasses:
push | ravenland.org03/29/2019
:joy:
vincent
one day tho eh
Chill03/29/2019
my 250,000 RVN that were spent on RVN assets are feeling pretty weak at the moment
[Dev-Happy] Blondfrogs03/29/2019
@Vincent haha ravenland assets are still assets. They just don't have the ability to freeze then and stop you from trading them
DirkDiggler (RVN ded)03/29/2019
you got to have one ring to rule them all... the Unique Ownership Token does that
SamzOnline [w1ne]03/29/2019
@Chill That puts my 80 to shame!
[Dev-Happy] Blondfrogs03/29/2019
@Chill Like I said, no decision has been made yet.
Vincent03/29/2019
@[Dev-Happy] Blondfrogs just playing with that one
[Dev-Happy] Blondfrogs03/29/2019
@Vincent Yeah, I understand
S1LVA | GetRavencoin.org03/29/2019
Changing gears alittle, Has any further thought been put into privacy?
push | ravenland.org03/29/2019
a tor network with proxychains could be effectively used to privatize a node
Jeroz03/29/2019
Seems that we need to continue discussions about the asset naming and make a write up about the proposals.
I have a different question:
About metadata and transactions. Tron mentioned that it will be possible to attach metadata to every transaction. It was unclear to me whether he meant every messaging transaction or every regular RVN/Asset transaction.
push | ravenland.org03/29/2019
ive been looking into this a little bit
Synicide03/29/2019
@S1LVA | GetRavencoin.org been wondering that too, and if restricted assets for KYC/AML NEED to be trackable
[Dev-Happy] Blondfrogs03/29/2019
@S1LVA | GetRavencoin.org Privacy isn't the main thing ravencoin wants right now. We need to be able to send and trade assets with visibility of amounts and the asset names. Once the main core components are finished, we can start thinking about integration privacy.
push | ravenland.org03/29/2019
as i understand it tor could as a protocol be built into ravencoin itself and distroed as a private tor based connector or hardened in such a way not to leak dns or requests that are not 'tor' proxied .. but you could do this already with some modifications to most linux systems (without the need for a ravencoin release)
S1LVA | GetRavencoin.org03/29/2019
Understood
[Dev-Happy] Blondfrogs03/29/2019
@Jeroz With messaging, all asset transactions can contain a metadata field yes.
Jeroz03/29/2019
RVN too?
[Dev-Happy] Blondfrogs03/29/2019
Not RVN at this time, as that already exists with the OP_RETURN functionality of bitcoin
Jeroz03/29/2019
Yeah I was about to say
S1LVA | GetRavencoin.org03/29/2019
I dream of one day Ravencoin giving users the ability to protect themselves from state level actors looking to oversee transactions on chain.
[Master] Roshii03/29/2019
What's the subject?
[Dev-Happy] Blondfrogs03/29/2019
@S1LVA | GetRavencoin.org That would be amazing, however the dividends and voting require a public ledger in order to send
Synicide03/29/2019
@[Master] Roshii large one is if regular and restricted assets should share unique names, and/or if a grace peroid should be allowed for original owners to register restricted assets
[Dev-Happy] Blondfrogs03/29/2019
So we would need to figure out a way to have that info public and keep privacy
S1LVA | GetRavencoin.org03/29/2019
Agree'd
Synicide03/29/2019
that was my worry, that it HAS to be public for a lot of uses. Privacy would have to be optional
[Dev-Happy] Blondfrogs03/29/2019
ravencoin was built and is being built to support asset trading. Privacy is important but isn't currently the focus of the dev team.
Synicide03/29/2019
sounds good, focus on our roadmap and can research it more in the future
S1LVA | GetRavencoin.org03/29/2019
Privacy is one of the very lasts subjects brought up in the whitepaper, after all :wink:
Vincent03/29/2019
to bring up an old topic; assets that haven't been reissued, there was talk about lowering the decimal places to reissue; i know not important but if it needed to be in a hard fork; should it be looked at the add to th next?
[Dev-Happy] Blondfrogs03/29/2019
@Vincent I have found a way to do this, however it requires the reissuer to own all assets
Synicide03/29/2019
how would you determine the correct values if lowering decimals? rounding?
Rikki RATTOE Sr. SEC Impresantor03/29/2019
@[Dev-Happy] Blondfrogs Yes!
Vincent03/29/2019
correct
nice
Synicide03/29/2019
if they all own, I guess its a non-issue
[Dev-Happy] Blondfrogs03/29/2019
We aren't currently working on that, but I will try and get it into the hard fork release
Vincent03/29/2019
it would be a 1 time option, correct?
Rikki RATTOE Sr. SEC Impresantor03/29/2019
In that event too, ability to reduce total supply as well if u still own every asset created would also be an excellent Option to have
When 350? (350club)03/29/2019
Is Bruces worry about the security of Ravencoin a curent issue?
Chill03/29/2019
That seems to be the talk of the day
Zaab03/29/2019
Its just honesty
Sevvy (not worried til 500sats)03/29/2019
We know a 51% attack is cheap
[Dev-Happy] Blondfrogs03/29/2019
@Vincent Depends on if it meets requirements.
Sevvy (not worried til 500sats)03/29/2019
But reorg depth protection is good
Rikki RATTOE Sr. SEC Impresantor03/29/2019
Yes Ravencoin currently doesn't have the network security that Bitcoin does, and water is wet
push | ravenland.org03/29/2019
more full nodes is the answer to a stronger consensus and therefore a more securer network
Sevvy (not worried til 500sats)03/29/2019
Hmmm checks out
push | ravenland.org03/29/2019
:ThinkBlack:
Vincent03/29/2019
right i guess my question is one time at most?
Synicide03/29/2019
It feels like more than just honesty. The last 4 post in a row from the Ravencoin twitter have some type of FUD based around it. Its all you see on the first page when looking at it. Some of that stuff needs to be kept to his personal account
Sevvy (not worried til 500sats)03/29/2019
Probably not a development Question, what Bruce says on his own time. :persevere:
Rikki RATTOE Sr. SEC Impresantor03/29/2019
@Synicide Bruce don't wanna spend a fortune on restricted assets :yum:
Sevvy (not worried til 500sats)03/29/2019
I don't like it myself either though @Synicide
boatsandhoes03/29/2019
yeah the ravencoin twitter has been a bit..... not good to put it easy
Vincent03/29/2019
this is bruces baby...and fud should be taken lightly imo
[Dev-Happy] Blondfrogs03/29/2019
Bruce can say what he wants :_)
Chill03/29/2019
well, it is the unofficial official Twitter page, so it kind of does matter
[Dev-Happy] Blondfrogs03/29/2019
We have taken measures to make sure ravencoin is safe and to stop 51% attacks
Synicide03/29/2019
I agree on his personal account. When people look up this project on twitter, they dont need a full page of fud
push | ravenland.org03/29/2019
its not a very development orientated debate tho in fairness
Vincent03/29/2019
no news will stop a well designed code
S1LVA | GetRavencoin.org03/29/2019
Many new users are asking about IPFS integration. Is this still being researched?
When 350? (350club)03/29/2019
I only asked as it appeared Bruce was saying there is a current security vulnerability..
push | ravenland.org03/29/2019
@[Dev-Happy] Blondfrogs what can people do to help secure the ravencoin network into 2019 and in the future?
Rikki RATTOE Sr. SEC Impresantor03/29/2019
@When 350? (350club) Bruce doesn't code, he wouldn't know
boatsandhoes03/29/2019
sorry, got a late start on this meeting. is kyc stuff on the table for discussion today, or is that at a later meeting?
[Dev-Happy] Blondfrogs03/29/2019
@push | ravenland.org Looks at the PR's, make sure the code being added is well written and secure.
push | ravenland.org03/29/2019
sure thing
and run fullnodes right?
[Dev-Happy] Blondfrogs03/29/2019
Run nodes, and mine ravencoin!
haha
hashpower
push | ravenland.org03/29/2019
:thumbsup:
boatsandhoes03/29/2019
that part
Pho3nix Monk3y03/29/2019
Looks like its time.
Jeroz03/29/2019
Alright, I have to pick up my son. Thanks everyone!
Pho3nix Monk3y03/29/2019
Thanks all
Rikki RATTOE Sr. SEC Impresantor03/29/2019
Thx!
Vincent03/29/2019
:sunglasses:
push | ravenland.org03/29/2019
cheers again :thumbsup: keep up the good work :rvn_hop:
Chill03/29/2019
thanks for everyone's hard work
Synicide03/29/2019
great talks today, thanks guys
Pho3nix Monk3y03/29/2019
Can have an admin shut it down and move this over to another channel until next time.
[Dev-Happy] Blondfrogs03/29/2019
Thanks for voicing your concerns.
S1LVA | GetRavencoin.org03/29/2019
Thanks everyone
Pho3nix Monk3y03/29/2019
@traysi ★★★★★ can you lock it back?
traysi ★★★★★03/29/2019
The channel is locked now.
submitted by mrderrik to Ravencoin [link] [comments]

06-04 00:34 - 'Bitcoin, trade wars, nuclear war, off-grid living and Ted Kaczynski' (self.Bitcoin) by /u/MarcBago removed from /r/Bitcoin within 273-283min

'''
Bitcoin, trade wars, nuclear war, off-grid living and Ted Kaczynski
I saw a post on here earlier asking if the trade war with China is good news for bitcoin.
Which got me thinking- would war be good news for bitcoin?
What about nuclear war?
Expected answer: cashing out your bitcoins would be the last of your problems during nuclear war.
Which I agree with. But I have a soft spot in my heart for off-grid lifestyles and an anti-tech revolution as imagined by Ted Kaczynski. His latest book released in 2016 I believe, Anti-Tech Revolution: Why & How (pdf is available free online) was a fascinating read, I read it front to back 3+ times in a row after first coming across it.
Kaczynaki takes a look at revolutions throughout history and the social sciences generally (which he rightfully observes is nowhere remotely like the hard sciences) in this book, and one thing he concludes is that human affairs are unpredictable and society cannot be designed and there will sooner or later be catastrophic failure of the industrial technological system we are living in.
You know what, how about I paste a snippet here for y’all to digest and share your thoughts about-
[link]1
CHAPTER ONE
The Development ofa Society Can Never Be Subject to Rational Human Control
I. In specific contexts in which abundant empirical evidence is available, fairly reliable short-term prediction and control of a society's behavior may be possible. For example, economists can predict some ofthe immediate consequences for a modern industrial society of a rise or a fall in the interest rates. Hence, by raising or lowering interest rates they can manipulate such variables as the levels ofinflation and ofunemployment.3 Indirect consequences are harder to predict, and prediction of the conse­ quences of more elaborate financial manipulations is largely guesswork. That's why the economic policies ofthe U.S. government are subject to so much controversy: No one knows for certain what the consequences of those policies really are. Outside of contexts in which abundant empirical evidence is avail­ able, or when longer-term effects are at issue, successful prediction-and therefore successful management of a society's development-is far more difficult. In fact, failure is the norm.
• During the first half of the second century BC, sumptuary laws (laws intended to limit conspicuous consumption) were enacted in an effort to forestall the incipient decadence of Roman society. As is usual with sump­ tuary laws, these failed to have the desired effect, and the decay of Roman mores continued unchecked.4 By the early first century BC, Rome had become politically unstable. With the help ofsoldiers under his command, Lucius Cornelius Sulla seized control of the city, physically exterminated the opposition, and carried out a comprehensive program ofreform that was intended to restore stable government. But Sulla's intervention only made the situation worse, because he had killed offthe "defenders oflawful government" and had filled the Senate with unscrupulous men "whose tra­ dition was the opposite ofthat sense ofmission and public service that had animated the best of the aristocracy."5 Consequently the Roman political system continued to unravel, and by the middle of the first century BC Rome's traditional republican government was essentially defunct.
• In Italy during the 9th century AD certain kings promulgated laws intended to limit the oppression and exploitation of peasants by the aristocracy. "The laws proved futile, however, and aristocratic landowning and political dominance continued to grow."6
• Simon Bolivar was the principal leader ofthe revolutions through which Spain's American colonies achieved their independence. He had hoped and expected to establish stable and "enlightened" government throughout Spanish America, but he made so little progress toward that objective that he wrote in bitterness shortly before his death in 1830: "He who serves a revolution plows the sea." Bolivar went on to predict that Spanish America would "infallibly fall into the hands ofthe unrestrained multitude to pass afterward to those of. . . petty tyrants of all races and colors . . . [We will be] devoured by all crimes and extinguished by ferocity [so that] the Europeans will not deign to conquer us. . . ."7 Allowing for a good deal of exaggeration attributable to the emotion under which Bolivar wrote, this prediction held (roughly) true for a century and a half after his death. But notice that Bolivar did not arrive at this prediction until too late; and that it was a very general prediction that asserted nothing specific.
• In the United States during the late 19th century there were worker-housing projects sponsored by a number ofindividual philan­ thropists and housing reformers. Their objective was to show that efforts to improve the living conditions ofworkers could be combined with... profits of5 percent annually. ... Reformers believed that the model dwellings would set a stan­ dard that other landlords would be forced to meet. . . mostly because of the workings of competition. Unfortunately, this solution to the housing problem did not take hold. . . . The great mass ofurban work­ ers. . . were crowded into. . . tenements that operated solely for profit.8 It is not apparent that there has been any progress over the centuries in the capacity of humans to guide the development of their societies. Relatively recent (post-1950) efforts in this direction may seem superficially to be more sophisticated than those ofearlier times, but they do not appear to be more successful.
• The social reform programs ofthe mid-1960s in the United States, spearheaded by President Lyndon Johnson, revealed that beliefs about the causes and cures of such social problems as crime, drug abuse, poverty, and slums had little validity. For example, according to one disappointed reformer: Once upon a time we thought that ifwe could only get our problem families out of those dreadful slums, then papa would stop taking dope, mama would stop chasing around, and junior would stop car­ rying a knife. Well, we've got them in a nice new apartment with modern kitchens and a recreation center. And they're the same bunch of bastards they always were.9 This doesn't mean that all ofthe reform programs were total fail­ ures, but the general level of success was so low as to indicate that the reformers did not understand the workings of society well enough to know what should be done to solve the social problems that they addressed. Where they achieved some modest level of success they probably did so mainly through luck.
One could go on and on citing examples like the foregoing ones. One could also cite many examples ofefforts to control the development ofsocieties in which the immediate goals ofthe efforts have been achieved. But in such cases the longer-term consequences for society as a whole have not been what the reformers or revolutionaries have expected or desired.11
10 ANTI-TECH REVOLUTION • The legislation of the Athenian statesman Solon (6th century BC) was intended to abolish hektemorage (roughly equivalent to serfdom) in Attica while allowing the aristocracy to retain most of its wealth and privilege. In this respect the legislation was successful. But it also had unexpected consequences that Solon surely would not have approved. The liberationofthe"serfs"resultedinalaborshortagethatledtheAtheniansto purchase or capture numerous slaves from outside Attica, so that Athens was transformed into a slave society. Another indirect consequence of Solon's legislation was the Peisistratid "tyranny" (populist dictatorship) that ruled Athens during a substantial part of the 6th century BC.12 • Otto von Bismarck, one of the most brilliant statesmen in European history, had an impressive list ofsuccesses to his credit. Among other things: -He achieved the unification ofGermany in 1867-1871. -He engineered the Franco-Prussian war of1870-71, but his suc- cessful efforts for peace thereafter earned him the respect of European leaders. -He successfully promoted the industrialization of Germany. -By such means he won for the monarchy the support ofthe middle class. -Thus Bismarck achieved his most important objective: He pre­ vented (temporarily) the democratization of Germany. -Though Bismarckwas forced to resign in 1890, the political struc­ ture he had established for Germany lasted until 1918, when it was brought down by the German defeat in World War 1.13 Notwithstanding his remarkable successes Bismarck felt that he had failed, and in 1898 he died an embittered old man.14 Clearly, Germany was not going the way he had intended. Probably it was the resumption of Germany's slow drift toward democratization that angered him most. But his bitterness would have been deeper ifhe had foreseen the future. One can only speculate as to what the history ofGermany might have been after 1890 if Bismarck hadn't led the country up to that date, but it is certain that he did not succeed in putting Germany on a course leading to results ofwhich he would have approved; for Bismarck would have been horrified by the disastrous war of 1914-18, by Germany's defeat in it, and above all by the subsequent rise ofAdolfHitler. • In the United States, reformers' zeal led to the enactment in 1919 of"Prohibition" (prohibition ofthe manufacture, sale, or transportation
CHAPTER ONE: PART I 11 of alcoholic beverages) as a constitutional amendment. Prohibition was partly successful in achieving its immediate objective, for it did decrease the alcohol consumption of the "lower" classes and reduce the incidence of alcohol-related diseases and deaths; it moreover "eradicated the saloon." On the other hand, it provided criminal gangs with opportunities to make huge profits through the smuggling and/or the illicit manufacture of alcoholic drinks; thus Prohibition greatly promoted the growth of organized crime. In addition, it tended to corrupt otherwise respectable people who were tempted to purchase the illegal beverages. It became clear that Prohibition was a serious mistake, and it was repealed through another constitutional amendment in 1933.15 • The so-called "Green Revolution" of the latter part of the 20th century-the introduction of new farming technologies and of recently developed, highly productive varieties of grain-was supposed to allevi­ ate hunger in the Third World by providing more abundant harvests. It did indeed provide more abundant harvests. But: "[A]lthough the 'Green Revolution' seems to have been a success as far as the national total cereal production figures are concerned, a look at it from the perspective of communities and individual humans indicates that the problems have far outweighed the successes... ."16 In some parts of the world the conse­ quences of the Green Revolution have been nothing short of catastrophic. For example, in the Punjab (a region lying partly in India and partly in Pakistan), the Green Revolution has ruined "thousands of hectares of [for­ merly] productive land," and has led to severe lowering of the water table, contamination of the water with pesticides and fertilizers, numerous cases of cancer (probably due to the contaminated water), and many suicides. "'The green revolution has brought us only downfall,' says Jarnail Singh... . 'It ruined our soil, our environment, our water table. Used to be we had fairs in villages where people would come together and have fun. Now we gather in medical centers.' "17 From other parts of the world as well come reports of negative con­ sequences, of varying degrees of severity, that have followed the Green Revolution.These consequences include economic, behavioral, and medical effects in addition to environmental damage (e.g., desertification).18 • In 1953, U.S. President Eisenhower announced an "Atoms for Peace" program according to which the nations of the world were sup­ posed to pool nuclear information and materials under the auspices of an international agency. In 1957 the International Atomic Energy Agency
12 ANTI-TECH REVOLUTION was established to promote the peaceful uses of atomic energy, and in 1968 the United Nations General Assembly approved a "non-proliferation" treaty under which signatories agreed not to develop nuclear weapons and in return were given nuclear technology that they were supposed to use only for peaceful purposes.19The people involved in this effort should have known enough history to realize that nations generally abide by treaties only as long as they consider it in their own (usually short-term) interest to do so, which commonly is not very long. But apparently the assumption was that the nations receiving nuclear technology would be so grateful, and so happy cooperating in its peaceful application, that they would forever put aside the aspirations for power and the bitter rivalries that throughout history had led to the development of increasingly destructive weapons. This idea seems to have originated with scientists like Robert Oppenheimer and Niels Bohr who had helped to create the first atomic bomb.20 That physicists would come up with something so nai:ve was only to be expected, since specialists in the physical sciences almost always are grossly obtuse about human affairs. It seems surprising, however, that experienced politicians would act upon such an idea. But then, politicians often do things for propaganda purposes and not because they really believe in them. The "Atoms for Peace" idea worked fine-for a while. Some 140 nations signed the non-proliferation treaty in 1968 (others later),21 and nuclear technology was spread around the world. Iran, in the early 1970s, was one of the countries that received nuclear technology from the U.S.22 And the nations receiving such technology didn't t r y t o use i t t o develop nuclear weapons. Not immediately, anyway. Of course, we know what has happened since then. "[H]ard-nosed politicians and diplomats [e.g., Henry Kissinger]...argue that proliferation of nuclear weapons is fast approaching a 'tipping point' beyond which it will be impossible to check their spread." These "veterans of America's cold-war security establishment with impec­ cable credentials as believers in nuclear deterrence" now claim that such weapons "ha[ve] become a source of intolerable risk."23 And there is the inconvenient fact that the problem of safe disposal of radioactive waste from the peaceful uses of nuclear energy still has not been solved.24 The "Atoms for Peace"fiasco suggests that humans' capacity to con­ trol the development of their societies not only has failed to progress, but has actually retrogressed. Neither Solon nor Bismarck would have supported anything as stupid as "Atoms for Peace."
CHAPTER ONE: PART II 13 II. There are good reasons why humans' capacity to control the development of their societies has failed to progress. In order to control the development of a society you would have to be able to predict how the society would react to any given action you might take, and such predic­ tions have generally proven to be highly unreliable. Human societies are complex systems-technologically advanced societies are most decidedly complex-and prediction of the behavior of complex systems presents dif­ ficulties that are not contingent on the present state of our knowledge or our level of technological development. [U]nintended consequences [are] a well-known problem with the design and use of technology... . The cause of many [unintended con­ sequences] seems clear: The systems involved are complex, involving interaction among and feedback between many parts. Any changes to such a system will cascade in ways that are difficult to predict; this is especially true when human actions are involved.25 Problems in economics can give us some idea of how impossibly difficult it would be to predict or control the behavior of a system as com­ plex as that of a modern human society. It is convincingly argued that a modern economy can never be rationally planned to maximize efficiency, because the task of carrying out such planning would be too overwhelmingly complex.26 Calculation of a rational system of prices for the U.S. economy alone would require manipulation of a conservatively estimated 6xl013 (sixty trillion!) simultaneous equations.27 That takes into account only the economic factors involved in establishing prices and leaves out the innu­ merable psychological, sociological, political, etc., factors that continuously interact with the economy. Even if we make the wildly improbable assumption that the behav­ ior of our society could be predicted through the manipulation of, say, a million trillion simultaneous equations and that sufficient computing power to conduct such manipulation were available, collection of the data necessary for insertion of the appropriate numbers into the equations would be impracticable,28 especially since the data would have to meet impossibly high standards of precision if the predictions were expected to remain valid over any considerable interval of time. Edward Lorenz, a meteo­ rologist, was the first to call widespread attention to the fact that even the most minute inaccuracy in the data provided can totally invalidate a
14 ANTI-TECH REVOLUTION prediction about the behavior of a complex system. This fact came t o be called the "butterfly effect"because in 1972, at a meeting of the American Association for the Advancement of Science, Lorenz gave a talk that he titled "Predictability: Does the Flap of a Butterfly's Wings in Brazil Set Off a Tornado in Texas?"29 Lorenz's work is said to have been the inspiration for the development of what is called "chaos theory"30-the butterfly effect being an example of "chaotic" behavior. Chaotic behavior is not limited to complex systems; in fact, some surprisingly simple systems can behave chaotically.31 The Encyclopaedia Britannica illustrates this with a purely mathematical example. Let A and x0 be any two given numbers with 0 CHAPTER ONE: PART II 15 behavior of a macroscopic system requires data so precise that their accuracy can be disturbed by events at the subatomic level, then no reliable prediction is possible. Hence, for a chaotic physical system, there is a point beyond which the horizon of predictability can never be extended. Of course, the behavior of a human society is not in every respect chaotic; there are empirically observable historical trends that can last for centuries or millennia. But it is wildly improbable that a modern techno­ logical society could be free of all chaotic subsystems whose behavior is capable of affecting the society as a whole, so it is safe to assume that the development of a modern society is necessarily chaotic in at least some respects and therefore unpredictable. This doesn't mean that no predictions at all are possible. In reference to weather forecasting the Britannica writes: It is highly probable that atmospheric movements... are in a state of chaos. If so, there can be little hope of extending indefinitely the range of weather forecasting except in the most general terms. There are clearly certain features of climate, such as annual cycles of tem­ perature and rainfall, which are exempt from the ravages of chaos. Other large-scale processes may still allow long-range prediction, but the more detail one asks for in a forecast, the sooner it will lose its validity.34 Much the same can be said of the behavior of human society (though human society is far more complex even than the weather). In some con­ texts, reasonably reliable and specific short-term predictions can be made, as we noted above in reference to the relationship between interest rates, inflation, and unemployment. Long-term predictions of an imprecise and nonspecific character are often possible; we've already mentioned Bolivar's correct prediction of the failure of stable and "enlightened " government in Spanish America. (Here it is well to note that predictions that something will not work can generally be made with greater confidence than predic­ tions that something willwork.35) But reliable long-term predictions that are at all specific can seldom be made. There are exceptions. Moore's Law makes a specific prediction about the rate of growth of computing power, and as of 2012 the law has held true for some fifty years.36 But Moore's Law is not an inference derived from an understanding of society, it is simply a description of an empirically
16 ANTI-TECH REVOLUTION observed trend, and no one knows how long the trend will continue. The law may have predictable consequences for many areas of technology, but no one knows in any specific way how all this technology will interact with society as a whole. Though Moore's Law and other empirically observed trends may play a useful role in attempts to foresee the future, it remains true that any effort to understand the development of our society must (to borrow the Britannica's phrases) "remain a tentative process... with frequent recourse to observation and experiment... ." But just in case someone declines to assume that our society includes any important chaotic components, let's suppose for the sake of argument that the development of society could in principle be predicted through the solution of some stupendous system of simultaneous equations and that the necessary numerical data at the required level of precision could actually be collected. No one will claim that the computing power required to solve such a system of equations is currently available. But let's assume that the unimaginably vast computing power predicted by Ray Kurzweil37 will become a reality for some future society, and let's suppose that such a quantity of computing power would be capable of handling the enormous complexity ofthe present society and predicting its development over some substantial interval of time. It does not follow that a future society of that kind would have sufficient computing power to predict its own develop­ ment, for such a society necessarily would be incomparably more complex than the present one: The complexity of a society will grow right along with its computing power, because the society's computational devices are part of the society.
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Rounding to 1 and 2 Decimal Places - Corbettmaths - YouTube Decimal place value: thousandths - YouTube Decimals 8.2 SOME decimal places not showing in data Subtraction of Decimals with Number Lines and Place Value Tables

This site aims to provide the docs you need to understand Bitcoin and start building Bitcoin-based applications. ... but other software also lets its users select denomination amounts from some preselected (e.g. Table below) or all standard 8 decimal places: Bitcoins. Unit (Abbreviation) 1.0. bitcoin (BTC) 0.01. bitcent (cBTC) 0.001. millibitcoin (mBTC) 0.000001. microbitcoin (uBTC, “bits ... Bitcoin has a metric system of denominations used as units of Bitcoin. The main goal of the bitcoin currency, abbreviated BTC, is to make it harmonious to worldwide currencies. Bitcoin tries to accomplish this function by being divisible down to the 8 decimal place. This is an adequate thing, given the actual high price of 1 Bitcoin theses days. A Bitcoin is divisible to eight decimal places – it represents a value of 10 to the power of 8. Want to learn more? Read Satoshi Nakamoto’s original Bitcoin whitepaper. What is Satoshi? A Satoshi (sat), named after Satoshi Nakamoto, its mysterious creator, represents the smallest unit of Bitcoin. How many Satoshis are in a Bitcoin? There are – and will always be – 100,000,000 Satoshis ... It should be noted that Bitcoin can be divided to 8 decimal places, which means that you can make transactions up to the level of 0.00000001 BTC (also called 1 satoshi). In other words, if you want to invest in this digital asset you do not have to buy 1 BTC, but you can buy a small fraction of a coin. Start Trading Bitcoin Now! Many have adopted the practice of referring to the micro-bitcoin metric sub-unit as "bits". Table of all units. This table is intended to include all well-defined units of bitcoin value, including less common and niche units. Unit Abbreviation Decimal (BTC) Alternate names Info Algorithmic maximum : 20,999,999.9769 Calculation: tam-bitcoin : 2,814,749.76710656 : 1,0000,0000 tonal mega-bitcoin ...

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Rounding to 1 and 2 Decimal Places - Corbettmaths - YouTube

This is my Technology Related information.Like "O" Level,"CCC", "Webdesign", "C" language, "C++" "Php","Java","Java Script", "Delphi" Programming Language,Ba... I have changed the format of all column to decimal, 2 cases, the local... replacing the values on the cell itself is not an option as a new csv file with more rows added need to be uploaded to the ... Esta vídeoaula mostra como descobrir o valor RGB de uma cor qualquer e converter estes valores em Hexadecimal. EXERCISE 8.2 1. Complete the table with the help of these boxes and use decimals to write the number. 2. Write the numbers given in the following place value table in decimal form. 3. Write the ... Corbettmaths - This video shows how to round numbers to 1 or 2 decimal places.

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