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White Paper, Miner, Pizza … | "Old Objects" in the Cryptocurrency Museum

White Paper, Miner, Pizza … |
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Museum has played the role of a time recorder. Talking about bitcoin, more than ten years has passed since the creation of it. Although it is uncomparable to the stock market with a hundred years of history, during the ten years, in the different stages of the development of bitcoin and blockchain have continuously poured in geeks, miners, speculators, newbies, leaving keywords such as sudden rich, myth, scam, belief, revolution, etc.
There are also many “old objects” with stories in the “Museum” of the cryptocurrency realm. On Museum Day, let ’s review the stories brought by these “old objects”.
The First Digital Currency White Paper — Bitcoin White Paper
On Oct. 31, 2008, Satoshi Nakamoto released the Bitcoin white paper — A Peer-to-Peer Electronic Cash System in the cryptographic mail group where he belongs, and Bitcoin was born since then.
A white paper is a document that explains the purpose and technology used in cryptocurrency. Usually a cryptocurrency uses the white paper to help people understand what it provides, and it is also an important information channel for investors to understand a project. Therefore, the level of the white paper affects people’s confidence towards the coin.
In a word, in the cryptocurrency and blockchain industry, the value of a white paper is equivalent to that of a standard financing speech. The white paper plays a vital role in this emerging market.
The First Public Bitcoin-Physical Transaction — Pizza
Since Satoshi Nakamoto mined the Bitcoin genesis block on January 3, 2009, Bitcoin has only been spread among the small crowd and has not realized its value.
Not until May 22, 2010, Bitcoin enthusiast “Laszlo Hanyecz” bought a pizza coupon worth $25 with 10,000 bitcoins. This is the first public bitcoin-physical transaction. Bitcoin has its price with 0.3 cents per bitcoin.


This day has also become the famous “Bitcoin Pizza Day” in Bitcoin history. Bitcoin as the imagination of the financial system has more practical significance. The tenth anniversary is coming. How will you commemorate it? Will you buy a pizza?
The First Digital Asset Exchange — Bitcoinmarket.com
After the birth of Bitcoin, in addition to mining, the only way to get Bitcoin in the early days was to conduct transactions on forums or IRC (commonly known as Internet Relay Chat). However, this method involves both long transaction time and great security risk.
In March 2010, the first digital asset exchange — Bitcoinmarket.com launched. However, due to lack of liquidity and transaction depth, it disappeared soon after its establishment, but Bitcoinmarket.com opened the era of the operation of the cryptocurrency realm exchange 1.0.


On June 9, 2011, China’s first Bitcoin exchange — Bitcoin China (BTCChina) launched. Its founder, Yang Linke, translated Bitcoin into Chinese “比特币” for the first time. In 2013, China’s bitcoin trading entered the golden age, and exchanges sprung up. China monopolized more than 90% of the world’s bitcoin transactions. Now, if the top three exchanges Binance, Huobi Global, OKEx are the Exchange 2.0, then the index exchange represented by 58COIN called the 3.0 version, leading the trend.
The First Generation of High-Performance Miner — ASIC Miner
When Satoshi Nakamoto created Bitcoin, the only way to get it is to use computers (including home computers) to mine, mainly relying on the CPU to calculate. However, as the value of digital currencies such as Bitcoin has become higher and higher, mining has become an industry with the competition is getting fiercer, accompanied by increasing difficulty of mining. Therefore, hardware performance competition starts.
In July 2012, the genius Jiang Xinyu (Internet nickname is “Friedcat”) from the junior class of the University of Science and Technology declared at the forum that he could make ASIC miners (chips). As far as mining computing power is concerned, ASICs can be tens of thousands or more higher than the same-generation CPUs and GPUs.
At the beginning of 2013, Zhang Nanqian (Pumpkin Zhang), a suspended doctoral student from the Beijing University of Aeronautics and Astronautics, developed the ASIC miner and named it “Avalon”.


In June 2013, the Friedcat’s miner USB was finally released, and it maintained 20% of the computing power of the entire network.
At the end of 2013, Wu Jihan, used the tens of millions yuan earned from Friedcat through investment, worked together with Jenke group, to develop the Antminer S1. Since then, the miner manufacturer Bitmain began to enter the stage of history.
It is no exaggeration to say that Friedcat and Zhang Nangeng have opened the domestic “mining” era.
The Birthplace of China’s Bitcoin — Garage Coffee
It is not only the “old objects” that record history, but also a place that everyone in the cryptocurrency realm aspires to.
Guo Hongcai once said, “Without no The Garage Café, there will be no cryptocurrency realm today. Since it is a very mysterious place that all waves of people from the café joint together to create today’s digital asset industry.

▲ In March 2013, American student Jake Smith successfully purchased a cup of coffee at The Garage Café with 0.131 bitcoins. This move attracted the attention of CCTV, and it conducted an interview.
Indeed, The Garage Café is the world ’s first entrepreneurial-themed coffee shop. It has been legendary since its establishment in 2011. The Garage Cafét is not only the core coordinate on China’s Bitcoin map, but also the birthplace of the Chinese cryptocurrency circle, where digital asset realm tycoons including Guo Hongcai, Zhao Dong, Li Xiaolai, Li Lin have made their ways.
The development of digital currency is only 11 years old. Through these “old objects”, we review the various stories of this wave of technology together, hoping to help you understand the development process of the digital currency field. Meanwhile, I also remind all practitioners to use history as a mirror and forge ahead.
Website: https://www.58ex.com/
Twitter: https://twitter.com/58_coin
Facebook: https://www.facebook.com/coin.58COIN
Telegram: https://t.me/official58
Medium: https://medium.com/@58coin_blog/
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Which Place Is Safe To Buy Bitcoins

Which Place Is Safe To Buy Bitcoins
Bitcoins
Bitcoins (BTC) the most valuable and talked about cryptocurrency is a digital floating exchange that is most used actively on trades of exchanges.


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Launched in 2009, it is considered to be a digital firm which has grown wildly over the past years, used mostly for online purchases and an investment There are numerous trading platforms and online exchanges that let you trade bitcoin and other cryptocurrencies.
But the main thing you have to beware of is trading costs, platform security, and reputation/trust of the bitcoins suppliers.
Which place is safe to buy this Bitcoins?
Bitcoins, not sponsored by any government. Instead of, you can buy bitcoins from bitcoins mining community or else you can also buy them with dollars or nearly any other currency.
As noted, there are few places where you can safely buy this bitcoins
CoinBase
Coinbase is the largest and most reputed Bitcoin platform functioning in the United States. It is one of the easiest places to start with Bitcoin which offers both an exchange and wallet in one choice. It supports Bitcoin Cash, Ethereum and Litecoin.
Once you sign up and connect your bank account, you can easily transfer funds in and out of your account and convert them to Bitcoin and back to dollars at will. You can access it through both the Web app or mobile app. It utilizes two-factor authentication and keeps redundant digital and paper backups of data “in safe deposit boxes and vaults around the world.
Coinmama
Coinmama has more than one million customers in 188 countries and it functions as a all-in-one exchange and digital wallet that makes it easy to buy Bitcoin and a limited list of additional currencies in the U.S. Dollars or Euros. It has no mobile app, but the website is very high quality \
Robinhood
Robinhood initially started as a fee-free stock brokerage and recently expanded into the world of digital currencies. From February 2018, you can buy and sell Bitcoin and other digital currencies completely fee-free on this platform. It supports Bitcoin and Ethereum trades and market data for another 15 currencies. Started its operation in mobile first and recently it added a Web version, so it is best for people comfortable managing money from their phone or tablet.
Binance
Binance supports a wide range of digital currencies including Bitcoin, Ethereum and its own Binance Coin (BNB). It offers a wide option to trade coins into multiple currencies and supports digital currencies, including EOS, Skycoin, TRON, ICON, Ethereum Classic, Litecoin, Ripple, Stellar Lumens, Bitcoin Cash, plus a bunch of cryptocurrencies. But noted, there are also some bugs reported with this Android mobile app and some users have reported delays withdrawing certain currencies
CoinExchange
CoinExchange is another low-cost exchange platform as it offers a huge number of coins on its platform, perhaps the biggest lists of coins supported by any platform on this list. On this platform the website looks simple, it comes to the point of security, it is robust and has long-term support for currencies on this platform.
Coinbase Pro
Coinbase Pro (formerly known as GDAX) looks familiar to those who use Bloomberg terminals or active stock, commodity and option trading platforms. Because GDAX is now part of Coinbase, funds are safe and insured, and the majority of coins are stored in physical form offline to prevent theft.
Square Cash
Square cash is another mobile app, here you can buy and sell Bitcoin with no fees. Buying and selling free puts this Cash app near the top of the places to buy Bitcoin list. Unlike some digital wallets, you don’t hold your Bitcoin outside of Square, it is held in your Square Cash account on your behalf to sell or withdraw. But if you do want to send your coins to another wallet, Square does offer that feature.
Local Bitcoins
LocalBitcoins was founded in june 2012 and has set its marketplace from Helsinki, Finland. The site uses an escrow system, and the transfer of bitcoin is made after funds are received in the sellers account. The site is suggested for casual traders seeking more privacy.
Paxful Bitcoins
Paxful is very popular in the cryptocurrency space. In this platform, you can start immediately with a digital wallet and also you are allowed to buy or sell hassle-free bitcoins. It has both the functions of a website and the mobile apps.
Which Is The Correct Time To Buy Bitcoins?
To Find out the right time to purchase bitcoins, make use of tools like Bitcoin Wisdom or Cryptowatch.
It has a metrics chart which analyse with the other Bitcoin trading sites. These charts will help you understand Bitcoin’s price history across the many global Bitcoin exchanges.
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A Lost Gem In A Sea Of Shitcoins

What’s up everyone!
 
Yeah, it’s another one of “those”. But honestly, after being in the game for long enough, you end up developing an eye for the good coins. Not the “good” ones, the GOOD ones. Believe it or not, research and common sense is the name of the game!
 
A little bit more about me: I come from a business & logistics management background. I started investing in cryptocurrencies and trading a little more than six months ago. As a person, I am very detail oriented and I’ve been researching all kinds of cryptos, for hours a day, for the past six months. The more I researched, the more I learned, the more I became hungry for knowledge, and therefore the more i researched. From trading to cryptocurrency basics, their economics, their political implications, the technology revolution they represent, the human psychology aspect as well as emotional trading behaviours (FOMO, FODO, etc.), all of it!
 
I’ve purchased Ethereum at 150$ (when I first started in crypto). Then NEO back when it was still AntShares and trading under 3$. Gas (Antcoin back then) at 30c, OMG when it was sub-1$, and ETP at exactly a dollar (selling it later at 5$). This was all before I even knew how to do a basic margin trade & was still in the process of learning about crypto (and while tether still had a “reasonable” market cap! LOL)
 
My approach is pretty simple when it comes to crypto. I split coins into seven main categories:
 
-Store of Value (BTC)
-Payment (DASH, BCH, LTC)
-Pure Anonymity and/or Evil Stuff (XMR)
-Platform/platform’ish (ETH, NEO, LISK, CARDANO, ETP, Iota, Factom and the likes)
-Shitcoins (99% of ERC20 tokens)
-Absolute Shitcoins (Boolberry, Embercoin et al.)
-Fee Split / Dividend Coins
 
That last category is my favorite. While I do strongly believe in diversification (10% store of value, 10% payment, 5% anonymity, 25% platform in my case), I always have a “lean” towards coins that make business sense. Coins that derive their value directly from the amount of usage the platform gets (Factom, for example). Coins such as NEO, BNB, Kucoin, Coss, ICN, TenX and the likes, basically coins that either have a direct “dividend-paying” property (NEO generating gas, Kucoin/Coss awarding holders with a % of the exchange’s trading fees) or an indirect “dividend paying” property such as BNB, ICN, TenX using quarterly profits to buy back their own coins and burn them, thus raising the value of the rest of the coins in circulation over time.
 
Now let’s look at market caps of these direct and indirect “dividend” coins.
 
Neo: 2.3B
TenX: 246M
Binance: 200M
Iconomi: 155M
Kucoin: 44M (68M at ath, not too long ago)
Coss: 5M
 
You see that odd one there with only 5M market cap? Yeah. That’s the great buy right now. That’s the x10, x20 or even x30 that most people haven’t realized yet. That’s also the “dividend coin” you can scoop a ton of while it’s on the cheap, and make massive recurring revenue from as the exchange solidifies and evolves.
 
What is COSS? COSS stands for Crypto One Stop Solution. They’re a Singapore based cryptocurrency exchange with an amazing team that’s currently expanding. They aim at becoming the “One Stop” solution for crypto, meaning A) an exchange, B) a payment gateway for merchants to accept crypto payments, and probably sometime in the future C) crypto debit/credit cards. They offer their own coin (COSS coin), and holders of this coin receive 50% of the trading fees generated by the exchange (more on this later).
 
Now, what a lot of people still don’t realize in crypto, you don’t invest in the bigger market cap coins expecting to make a killing (“the moonshot”). Sure, they’ll bring you nice long term growth as the whole market matures, and that’s where you want to diversify and solidify your portfolio, solid coins with a purpose. But what if you want more thrill? An actual opportunity to “moon”? You find a project that makes business sense, that has at least a working product, and a good team. Buying NEO at 2.5B market cap? You missed the boat, it was a dollar a few months ago and already went x60 (“mooned”), and now stabilized at roughly x38. OMG had it’s x10-15 already. BNB as well. Their market caps are big, and a lot of buying needs to happen to even double in price.
 
Antshares (NEO) back then was a steal at 1, 2 and 3$. It was a huge risk, with huge rewards. They didn’t even have a product other than their blockchain. No dApp running or even being built on it, no english resources to even figure out how to code on it and deploy a smart contract, no marketing, hell we didn’t even know if Da Hongfei was still alive. All it was is a Chinese based smart contract platform, with an innovative dBFT concensus algorithm. It was a 100M market cap coin that early adopters believed in, and essentially invested in when it was not much more than a website and a blockchain. Look where it’s at now, with more than a dozen dApps being built on it, a solid team of roughly 10 devs, with the NEO council also funding City of Zion (team of 20+ NEO devs). NEO has grown into an incredible community, and is now launching coding dApp contests left and right, with the latest one in partnership with Microsoft china & offering half a million dollar’s worth in prizes.
 
NEO holders get rewarded with GAS on a daily basis. When NEO gets further adoption, all fees such as registering an asset, deploying a contract, changing an asset, etc. will be redistributed to NEO holders as well on a pro rated basis. Only transaction fees are not, as those will go out to MasterNodes. If you got yourself a thousand NEO’s back when they were a dollar or two a piece, you’re now generating 7 gas per month. That’s roughly 161$ USD per month, on a recurring basis, at current gas prices, out of a 1000$ investment. That’s a whopping 16.1% PER MONTH on original investment, and not even counting the fact that you pretty much made 37000$ profit on the NEO’s themselves. Today? Well, you gotta dish out 38000$ to buy a thousand neos and make 161$ per month, basically bringing you 0.4% per month on original investment.
 
Same with bitcoin. Early adopters that got it at pennies. It just hit $10K USD a piece. For every 30 cent spent purchasing bitcoin in 2009, you’d have $10K USD in the bank account. Invested 3$? 100K. Invested 30$? 1M.
 
Ethereum? From a dollar to half a grand now.
 
Moral of the story? Early adoption pays off. History repeats itself, and it will continue to do so. Bitcoin was digital money for nerds, ethereum was a cool project that nobody really gave a crap about until they got EEA which showed credibility (early adopters of eth had a great vision, I’ll give them that!). Neo was chinese vaporware. What do they all have in common? Their.Early. Adopters. Made. A. Killing.
 
Look where they stand now. Look where a lot of coins stand now. Even a lot of ERC20 tokens that don’t even really have a reason to exist have market caps over 100M. And for what? They don’t reward you with anything other than price increasing because more people buy (greater fool theory)? They don’t reward you with dividends from the project/platform itself? Their value isn’t derived directly from the amount of usage it gets (a la Factom, PaulSnow you genius.)? They still don’t even have a minimum viable product to show? When you ask yourself why does it need a coin, and the answer is either “uhh…” or “oh it grants you voting rights” (that nobody gives a crap about, let’s be honest), you should reconsider your investment strategy. Cause I can tell you a lot of people don’t know what the hell they’re doing, and they’d be better off diversifying in the top 5 or 10 coins and holding than investing in the shitcoinfest that crypto has become.
 
And that’s why COSS is a pretty buy right now. You’re investing in a platform that’s already up and running, not a whitepaper or vaporware. Hell even Eth and Neo were riskier investments for early adopters. Let’s go over the cons first:
 
It’s ugly. The UI sucks.
It doesn’t have API’s yet, meaning there’s no bots to create liquidity, and therefore low volume.
It’s been fudded to death by KuCoin shills (and their referral links you’ve seen everywhere a month ago).
Charts are horrible
 
That’s about it. Whenever you read up about coss, those are the cons you’ll find. But what about the pros? Well, all of this is in the process of being fixed, as we speak.
 
Singapore has lax laws about cryptocurrencies and issued a statement it does not feel the need to regulate them.
It’s securing exclusive ICO’s already despite being a tiny exchange, and has mentioned being able to secure from 4 to 6 per month.
The team listens to the community’s feedback and takes it seriously. This is Gold. One of the first things they were criticized about was trying to do too many things at once (an exchange, a payment gateway, a full one-stop solution for crypto, etc.) and they’ve taken the community’s advice and decided to focus solely on the exchange for now and build it properly, before branching out to the rest. “Better excel at one thing and build from there, than be mediocre at multiple things at once”
Also following community feedback, they are implementing trading promotions “a la Binance”.
Part of the total supply of COSS tokens will be donated to charities (the community votes to who they go). First of all, that’s just plain nice. Secondly, I find it pretty damn cool that we donate this for good causes, and they basically keep “generating” income from it. It’s basically like a “perpetual donation” on behalf of COSS and all of its users, and definitely will make a lot of people feel good about using the exchange. Thirdly, this pretty much guarantees millions of COSS tokens are going to be in perpetual “HODL” mode, essentially taking them off the market.
They will be implementing a FIAT gateway sooner than later. We all know FIAT gateways are game changers.
They are constantly hiring. The team growing is definitely a good sign.
They are revamping the overall UI and charts, once again following the community’s advice, and the proposed new look is fantastic! Check it out here, as well as other great announcements: https://medium.com/@runeevensen/coss-io-7379b7628d93 EDIT: It has been brought to my attention that there is a UI upgrade scheduled for tomorrow (Dec. 3rd), although it isn't clear if it's a minor one or the actual major overhaul, might wanna keep an eye out on that!
They are upgrading the matching engine and releasing API’s soon to allow bots to create liquidity and significantly raise the trading volume.
Unlike KuCoin, the revenue split (COSS token holders) will always receive 50% of the fees, whereas kucoin will start decreasing it in 4-6months and it will bottom out at 10-15%
The revenue split from trading fees is controlled by a DAO, meaning the COSS team cannot arbitrarily decide to change it later down the line, unlike KuCoin where the control over the fee split is centralized and they decrease it as they please.
The DAO model also avoids it being labeled a security. First of all, those aren’t really “dividends” as dividends would require them to calculate income minus expenses to determine profit, and then distribute this profit to shareholders, and obviously that’s a legal nightmare. With the DAO model, you don’t get a percentage of the “profits”, you get a revenue split from the exchange fees, and it’s done by clicking a “distribute” button which makes a call to the smart contract and distributes your coins. COSS itself is not giving you anything
COSS is still in Beta. It has a tiny market cap. Now’s the time to pick it up, not when it’s out of beta and has become successful, or you’ll be in another Antshares/NEO situation. A ridiculously small move from 5M to 50M in Mcap and that’s x10, a move from 5M to 150M (still under binance levels) and that’s x30.
In the long run, COSS aims to be more than just an exchange. Holders of the token, who currently get 50% of the exchange’s trading fees, will also get 50% of other fees charged from coss. This includes their eventual payment gateway. Merchants around the world wishing to accept crypto payments will be able to use COSS’s gateway and COSS will charge a 0.75% fee per transaction. We, as COSS holders, also get 50% of that. You believe crypto is the future and going mainstream? Well your COSS will entitle you to the revenue generated by tens of thousands, if not hundreds of thousands of businesses accepting crypto payments via COSS Point-Of-Sale.
COSS also mentioned that all other COSS “fee generating” products to come will all be subject to the same DAO/50% split. Logically, If they have 1) The trading platform, and 2) the payment gateway, then the third step is solving the problem of spending the crypto in places that don’t accept direct crypto payment, AKA a crypto credit/debit card. Well, guess what? Users of such cards will be charged a small fee as well when their crypto is being converted to fiat in real time for payment at a gas station. We as COSS holders are, again, getting 50% of that fee. As you can see, this is a coin that makes business sense to invest in. Unless you really, reaaaaaally care about a coin being the “Future of decentralized prediction markets” or “the future of decentralized dating” or the “decentralized gambling coin” and whatnot.
Smart money is smart. It's only a matter of time before savvy investors discover this coin.
 
What do the dividends look like (credits to lickmypussy28):
 
Here’s an excel showing the Yearly %ROI based on the COSS exchange volume and your COSS token buy-in price: https://i.imgur.com/XKjjCbZ.png
 
Here’s another one showing how much you’d make in USD per year based on how many COSS tokens you own, again all relative to the volume on the left: https://i.imgur.com/p15DKAr.png
 
Lastly, here’s another showing the exact same as above but on a weekly basis: https://i.imgur.com/ezp5FCV.png
 
ALTHOUGH, keep in mind, the calculations above take into consideration an average trading fee of 0.2% and while this fee is accurate right now, it will most likely average 0.1% once API’s are released and liquidity/market maker bots start operating on the platform. Also, the calculations above do NOT take into consideration that in 4 years from now, there will be 200M (hard cap) COSS tokens on the market. HOWEVER, these calculations also do not take into consideration that by then, COSS will have a fully up and running payment gateway, crypto credit cards, and other revenue-generating products such as a crowdfunding platform, smart contract deployment platform, etc. that are also generating revenue for COSS holders.
 
All in all, if all goes as planned, the payment gateway/cards/other products will negate the additional COSS tokens released in the market as well as the average trading fee of 0.1%, and therefore the numbers presented in the excel docs will remain sensibly the same. Also, if crypto really takes off in the mainstream, then the revenue split to coss holders from the payment gateway & credit card spending could very well double, triple or quadruple all the numbers you’re seeing in these excel sheets, and that’s on the low end. Remember, the exchange only charges 0.2% (0.1% average once we have bots) out of which we get half, but the payment gateway on the other hand charges a flat 0.75% (7.5x the what the exchange’s fee), out of which COSS holders get half. This could be a massive revenue driver, easily surpassing the exchange itself, and honestly if at that point in time this coin is NOT valued at 3B+ (I mean, even ethereum classic is over that right now..), then I’ll just give up on the whole notion of logical thinking.
 
Quick example, assuming in 4 years 50M in gateway processing daily (18B yearly), 0.375% of that would be 187.5K USD daily for COSS holders. With 200M Coss tokens total supply, if you hold 10K coss you’d generate 9.375$ per day (65$ per week, 282$/mo.), and that’s purely from the gateway (totally excluding the exchange revenue, crowdfunding revenue, credit card revenue, etc.).
 
If you have 100K coss you’d generate 93.7$/day, 650$/week, 2820$/mo, again purely from the gateway.
 
If you’d rather assume more conservative figures (let’s say 25M in daily gateway processing on COSS, all around the globe, or 9B yearly), then simply divide these figures by half. If you wanna go balls to the walls, double them (100M daily, 36B yearly). Play around, have fun with the numbers! To keep things in perspective, square has processed 50B’s worth of transactions in 2016. Therefore I believe using 9B, 18B and 36B for our calculations isn’t too far fetched, and actually pretty reasonable.
 
Anyway, to sum this up, no matter how you look at it, COSS is an extremely promising project with huge potential, and actually has working math (and a working beta!) behind it. It’s only a matter of a month or two before they’re out of their Beta, have upgrades to their UI and engine, and start really growing from there. The team listens to the community, which is super important, and they’re working on a multitude of revenue streams, out of which not only them, but all coss holders will benefit from, fifty fifty.
 
Their crowdfunding platform will be a competitor to indiegogo, gofundme, kickstarter, and they’ll have a small percentage fee (50% of which goes to COSS holders). The crypto Point-Of-Sale will be a competitor to Square and the likes (50% revenue to COSS holders). The crypto credit card (also 50% revenue to COSS holders). It is truely an admirable project. Shovel manufacturers made a killing during the gold rush, and COSS is positioning itself as the shovel manufacturer in the crypto adoption gold rush. This is a coin that makes sense to invest in, it is ultra tangible, and will give greater returns than any type of “decentralized [insert function here]” type coins.
 
On a personal note: Honestly, I believe this is the proper way to ICO, by NOT giving people worthless tokens that only go up in value due to speculation (looking at you, 99% of ERC20 tokens). Let investors guide you, let them reap 50% of the rewards as THEY are the ones funding you. This’ll keep the investors interested in the project, and every single one of them will have a direct incentive to vouch for your product. It’s only right for the investors to get rewarded with something tangible, I’d take that any day over a speculative shitcoin who’s only purpose was to put money in the project’s founders pockets
 
Oh, and cherry on the sundae: they are planning on launching massive marketing campaigns as soon as UI and trading engine are ready, Q1 2018, as you can see in Rune’s Nov 27th update. I suggest you read it, it puts us up to date on a lot of exciting new things: https://medium.com/@runeevensen/coss-io-update-november-27th-fa74f1237062
 
Quoted directly from said link: “For those that are most interested in discussions regarding the trading price of COSS. Please have in mind that when we entered our token sale, our clear sales message was a 3–5 year road-map, and not a 3–5 months pump and dump. We are a small team, doing our utmost to deliver and all we ask is for you to continue to give us feedback and also for you to give us some time to deliver. *That being said. We still aim to be out of BETA as soon as possible with a new engine for the exchange in Q1 2018. New UI should be in place well before that.** Once we feel we have this in place we will roll out massive marketing campaigns to attract users and increased volume. So although we have a 3–5 year road-map ahead, you should expect to see 2018 being “our year”. The 3–5 year plan is more on the complete roadmap when we proudly can call ourselves a one-stop solution. For now it is all about the exchange, and there we will see rapid changes over the coming weeks/months.”*
 
All in all, i’d like to thank the COSS team for actually caring about their investors, keeping them in the loop, listening to their feedback and giving them a unique and tangible opportunity. I’d also like to thank all the other COSS investors, who see a huge potential in this project and support the team, and lastly, all of you crypto-heads for reading through!
 
Happy hodling, and hopefully see you all at 500M+ market cap by late 2018 :)
 
-Some random guy on Reddit.
 
PS: Not investment advice. Always do your due diligence. Also, if you’d like, you can join the discussion at /cossIO
 
Friendly reminder: ETH is the quickest way to get your funds on the COSS exchange, and COSS/ETH pair has 4x the volume of the COSS/BTC pair.
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2019 in Review: Community, Crime, Courtcases, Craig & Consolidation

2019 in Review: Community, Crime, Courtcases, Craig & Consolidation

https://preview.redd.it/r7dmpveldia41.png?width=680&format=png&auto=webp&s=f7dc87d5b58c4391d3e04359c4dc111d771246a1
2019 has been a tumultuous but amazing year for the development and advancement of blockchain technology. Following the rally to the all-time-highs at the end of 2017 and the intense infrastructure development and ongoing Bear Market of 2018 it was clear things were changing quickly. We are about to enter a new decase and the team at Aelf wanted to look back at 2019 and reflect on some of the events that occurred over the last year to see where the industry might be headed in 2020.

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Although the year has been considered a continuation of the 2018 bear market, it didn’t stop development, progression and a myriad of crazy events from occurring. This included the challenges associated with global regulations, the upcoming Bitcoin halving event in May 2020, announcement of the Facebook Libra and Telegram Open Network’s (TON) launch delay. This year also saw a myriad of debacles from self-proclaimed Bitcoin creator Craig Wright, the Justin Sun and Warren Buffet lunch situation, the recent claim of Twitter CEO Jack Dorsey’s goal to modify Twitter into a decentralized version of the platform, and President Trump’s Bitcoin statement, among others. Now let’s examine more of what took place during 2019 as we approach the start of the New Year in 2020.
The SEC, Telegram, Facebook Libra, Kik and Blockchain’s Global Regulatory Environment
Many of the world’s governments have been harsh towards blockchain technology in recent years. Particularly, the US Government and the Securities and Exchange Commission (SEC) have been very reluctant to ease the regulatory framework for blockchain development in the country. This has become more evident in 2019, with the SEC combatting many blockchain projects this year including the $1.7 billion-dollar token offering of the Telegram Open Network
and the Facebook Libra project. As well the SEC created controversy in a gruesome battle with Kik over its alleged illegal token offering that Kik has sworn to fight to their last breath.

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Many proponents of blockchain technology accuse the SEC of unfair policies to put a stranglehold on the development on blockchain in order to prevent the devaluation of the American monetary system. The reluctance for crypto exchanges to set up shop in the US is also becoming more prevalent because of the supposedly biased and unfavourable approach of the SEC. Nevertheless, there are also several major countries including China that have for the most part embraced the advancement of blockchain technology in 2019. China has also nearly finalized the development of the digital Chinese Yuan and announced that that country is going all in on blockchain development despite its sometimes anti-Bitcoin approach.
The Bitcoin Halving Event and its Ongoing Effect on Market Conditions
With the end of 2019 nearly upon us and the upcoming Bitcoin halving event set to take place during May of 2020 the market could be overdue for a bull market of mass proportions. Remember, the last bull market that took place was 2 years ago during December 2017 and was followed by an incredible dump from the all-time-high price of 20 thousand US Dollars to just 3300 USD in December 2018. For the most part, 2018 was a blood-bath for crypto markets and 2019 has not been all that much better. The price did briefly rally up to 14 thousand US Dollars during mid 2019 but has since been reduce by half with the Bitcoin price presently at just over 7000 US Dollars. Bitcoin was designed by its original creators with code written to mitigate the negative effects of inflation. In order to curb inflation, once every 4 years (or 210,000 blocks) the mining rewards that the network automatically generates are reduced in half.

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3 Additional Stories to Watch in 2020
In June, the CEO of Tron, Justin Sun purchased tickets through eBay for a charity auction to have lunch with Warren Buffet. Sun paid a record $4.56 million US Dollars in the process becoming the highest bid in the 20-year history of the event. The purpose of the lunch from Sun’s standpoint is to change Mr. Buffet’s viewpoint towards crypto and blockchain tech by inviting several blockchain industry leaders to help sway the famous investor’s perspective. Sun subsequently missed the lunch he scheduled in September because of a sudden bout with kidney stones. At this time, the community will have to wait and see when Sun and Buffet will meet in 2020. Stay tuned.
Back in December of 2015, Craig Wright claimed publicly to be the creator of Bitcoin, Satoshi Nakamoto. Most believe Wright was lying to gain more fame and recognition in the industry. On November 18th, 2018 Bitcoin SV hard forked from the Bitcoin Cash Network to create it own chain. As noted above, the disgruntled CEO of Bitcoin SV, has for years maintained he led the initial development of Bitcoin. During February 2018, Wright was the subject of a 5.118-Billion-dollar lawsuit by Dave Kleiman claiming that Wright defrauded Kleiman of Bitcoin while working on the initial development of the Bitcoin Network between 2009 and 2013. In August 2019, Wright was ordered by a court of law to pay half the 5.11 Billion in Bitcoin back to Kleiman. Throughout 2019, Wright launched lawsuits against Ethereum founder Vitalik Buterin, Bitcoin Cash’s Roger Ver and others for calling him a fraud. It seems likely Wright will continue his ongoing Satoshi rhetoric in 2020.

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The CEO of Twitter, Jack Dorsey recently stated that he has hired 5 full-time employees to modify the Twitter platform and make it increasingly decentralized. This may seem like a small step initially, but this project could be expanded easily by someone of Dorsey’s reputation and wealth in the technology industry. Dorsey himself has been a long-term proponent of blockchain technology and an investor in Bitcoin. Binance CEO, Changpeng Zhao, recently offered to help Dorsey make this dream come to fruition. Additionally, Morgan Creek Capital founder Anthony Pompliano supported Dorsey’s statement noting that, “Jack Dorsey may understand the future better than any entrepreneur on the planet right now.”
Conclusion
This year we saw Kik, Telegram and Facebook Libra face fierce backlash from the most powerful regulatory body in the world, the SEC. We saw the Chinese government announce that they are all in on blockchain development and declare the upcoming launch of their own centralized digital Chinese Yuan. Justin Sun postponed his 4.56-million-dollar lunch with billionaire investor Warren Buffet because of health issues, while Jack Dorsey the CEO of Twitter proclaimed a more decentralized and open version of Twitter to prevent some of the abuse on the platform.
In 2019, the 4-year long Craig Wright and Satoshi Nakamoto saga continued, and we finally are moving closer to the much-anticipated Bitcoin halving event of May 2020 that could change the trajectory of the Bitcoin price for much of 2020 and 2021. It is clear 2019 has been an incredible year for the blockchain industry. With no shortage of uncertainty and scepticism in the short-term, it is likely that 2019 will pale in comparison to the developments of 2020. As we approach 2020, the industry will continue to expand towards mass adoption and the mainstream evolution of blockchain technology. Nevertheless, with the global regulatory blockchain environment evolving in many areas across the world, the uncertainty in the United States remains stronger than ever. There is no telling what will happen in this regard and what will happen with Bitcoin and this amazing revolution in 2020 and beyond.
Merry Christmas and Happy Holidays from the Aelf Blockchain team and a Happy 2020 to all our community members!! Thank You
submitted by Floris-Jan to aelfofficial [link] [comments]

How and why on earth did cryptocurrency become what is is today and should we seriously do something aboout it?

My first thought is - rather fittingly - the genesis block of BTC. Specifically the message:
The Times 03/Jan/2009 Chancellor on brink of second bailout for banks

Today, over 10 years later, this kind of message might as well read:
Coindesk(dot)com xx/xx/2019 Crypto whales and miners on the brink of a second bailout for cryptocurrency exchanges

Bitfinex being perhaps the most iconic example. Losing 850 million USD just like that thanks to transnational government agencies, they faced a similar fate as banks in the housing crisis. Total wipe-out. Just like banks, these monolithic exchanges are too big to fail. Failure would mean a global financial crisis in crypto, much like mt.gox. Not that different from the banks that got bailed out by institutions, Bitfinex received the same treatment, except from whales, investment funds, rich corporate entities and such. They covered for the whole loss basically, allowing things to keep operational at least. There wasn't really any demand for another tether, so without it, it could have been an economic meltdown in crypto. Hearing about similar offers made by other rich entities operating in the crypto scene to Binance after their hack, I'm starting to think this has become an even bigger, more common thing with crypto exchanges than it has been with banks.
It's rich people in positions of power protecting their own interests, except that in the proper spirit of crypto, it's quite secretive, likely (pseudo)anonymous and way less transparent than what the central banks did. Due to the nature of this technology, it can be hard to grasp what the actions taken by Bitfinex mean. To my understanding, they minted a new coin, LEO (witty name for a token under these circumstances..) and basically just decided it's market cap is 1 billion, then in a private sale, managed to somehow pull off the biggest ever ICO in the history of crypto, 1 billion of funding in just 10 days for what appears to me as basically printing money in order to cover for accounting, as this exclusive club taking part in the sale of LEO committed into buying said tokens using the money Bitfinex previously printed in order to manipulate the markets and profit, USDT that is. Can't remember any ICO in the past where the minimum barrier for an individual to participate was 1 million dollars and for companies, groups, or funds 100+ million.

We traded the tyranny of the banking system for a system that eventually reached centralization of power to a much greater degree, accompanied with lack of regulation and oversight which we all welcomed. I have observed and participated in the scene for at least 9 years, so almost from the very beginning, seeing the rise of first altcoins for example and all the crazy phenomena which emerged and how the community dealt with them, evolving in the process. There has been a distinct pattern that can be traced back to these early days, where some group of people would figure out how to use this new technology in all kinds of creative ways which under normal circumstances would have been considered fraud, collusion... all kind of things we did NOT want. So when the majority aka victims became aware, we always protested accordingly. Pre-mined cloned coins that were hyped over social media only so the creators would profit? We decided they were worthless.
So these people, having a very lucrative way of essentially scamming people dreaming of moons came up with a solution: there will be no pre-mine, but coins were launched under the radar and only people with power (many BTC) were informed. In case you aren't familiar, when a new minable coin is released and there's only a handful of miners, a significant portion of the tokens in circulation are mined in an insanely fast manner, first 10% of total supply generated in a matter of hours perhaps, giving everyone who managed to mine on the day of launch a major advantage. We decided the secrecy was equally bad and they openly announced these coins, directing masses to use mining pools, only for them to be be under DDOS during the launch.

That pattern eventually evolved to ICO's and everything else we see today. Ripping people off in sophisticated enough ways that we put up with it. After all, we could always get lucky from the 'generous' pump & dump groups they were organizing and offering to us. The system may have changed, but the philosophy is the same: people with the most money either as individuals or a group exploiting 'lesser' people and groups, concentrating power (BTC) in the process much akin to 'rich get richer while poor get poorer'. 10 years onwards, thanks to the financial side (trading), the whole crypto economy is still not only using but dependent on market manipulation and all kinds of deceiving schemes.

This has been a major obstacle to wide-scale adoption, despite powerful people trying to convince us that manipulating prices to the level of a bubble will lead to people thinking this technology is great and start using it. In reality, many among the general population either had or started having doubts about these bitcoins. Imagine if they tried to sell internet and all of it's possibilities solely through nigerian prince scam spam.

Then there's the miners, one of if not the most powerful entity in cryptoscene as a whole. Naturally their power and influence only grew, significant investments were made. I remember conversations with some chinese guy mining LTC back in 2014, he was always like "Yay, the newest shipment of 300 AMD GPU's came straight out the factory". Must have had thousands. Asics had begun dominating BTC mining and they weren't cheap either. Not to mention all that electricity too. Where I'm leading you with this, is the current situation where we have established mining companies with ASICs dedicated solely to BTC mining for efficiency, probably pretty much useless for anything else. Valuations of 100's of millions if not billions at their peak. Then we realized how stupid it is to waste electricity like that when we could do it in a better way, Proof-of-Stake. Instant conflict of interest hindering further innovation due to competition instead of the opposite. The mining giants refuse to go out quietly and many have been mining BTC at a loss (electricity) for a long time now, effectively needing a pump to dump those mined BTC just to cover their operating costs in the past as they naturally didn't want to sell them at a loss.
Side-note: I think the current pump is due to a lot of BTC miners quitting and cashing out of BTC in a way that doesn't bankrupt them. To make matters force, they can effectively coerce both whales and crypto exchanges to co-operate in order to pump the prices because if the miners go out of business, everyone utilizing BTC for profit is in big trouble. So if they say they need a pump to dump, they get one. Bail-outs for miners too for christ sake.

Luckily, we have alternatives being heavily developed, but I fear for a financial meltdown for crypto before they reach a mature stage. Not a very popular subject to my knowledge, because in the near future, somebody has to pay the bill and this time it ain't covered by taxes collected. This awesome technology has been primarily abused and exploited, with people innovating in the are of 'get-rich-quick' schemes more than the technology itself. Ethereum was supposed to be a paradigm shift, but it became another instrument of the same scheme, even though it helped push tech forward some.

Remember that this is a time of decentralization. It's up to us, the collective, to do something about this if we want (or even can for that matter). Ironically, we stuck with the old mindset of 'just wait it out and The Man will fix it for us eventually' which was supposedly a thing of the past.

So I ask you: What are your opinions about the current state of affairs in crypto, especially the financial side? Do you feel it's all good and if so, why? Any and all input is welcome. Let's make the scene a better place and show good example to the pagans who doubt us due to our dubious practices in the past and even today, furthering acceptance and adoption instead of laser-point focus on profit to the point the system collapses.
submitted by RanCestor to CryptoCurrency [link] [comments]

A Beginners Guide to Bitcoin, Blockchain & Cryptocurrency

As cryptocurrency, and blockchain technology become more abundant throughout our society, it’s important to understand the inner workings of this technology, especially if you plan to use cryptocurrency as an investment vehicle. If you’re new to the crypto-sphere, learning about Bitcoin makes it much easier to understand other cryptocurrencies as many other altcoins' technologies are borrowed directly from Bitcoin.
Bitcoin is one of those things that you look into only to discover you have more questions than answers, and right as you’re starting to wrap your head around the technology; you discover the fact that Bitcoin has six other variants (forks), the amount of politics at hand, or that there are over a thousand different cryptocurrencies just as complex if not even more complex than Bitcoin.
We are currently in the infancy of blockchain technology and the effects of this technology will be as profound as the internet. This isn’t something that’s just going to fade away into history as you may have been led to believe. I believe this is something that will become an integral part of our society, eventually embedded within our technology. If you’re a crypto-newbie, be glad that you're relatively early to the industry. I hope this post will put you on the fast-track to understanding Bitcoin, blockchain, and how a large percentage of cryptocurrencies work.

Community Terminology

Altcoin: Short for alternative coin. There are over 1,000 different cryptocurrencies. You’re probably most familiar with Bitcoin. Anything that isn’t Bitcoin is generally referred to as an altcoin.
HODL: Misspelling of hold. Dank meme accidentally started by this dude. Hodlers are much more interested in long term gains rather than playing the risky game of trying to time the market.
TO THE MOON: When a cryptocurrency’s price rapidly increases. A major price spike of over 1,000% can look like it’s blasting off to the moon. Just be sure you’re wearing your seatbelt when it comes crashing down.
FUD: Fear. Uncertainty. Doubt.
FOMO: Fear of missing out.
Bull Run: Financial term used to describe a rising market.
Bear Run: Financial term used to describe a falling market.

What Is Bitcoin?

Bitcoin (BTC) is a decentralized digital currency that uses cryptography to secure and ensure validity of transactions within the network. Hence the term crypto-currency. Decentralization is a key aspect of Bitcoin. There is no CEO of Bitcoin or central authoritative government in control of the currency. The currency is ran and operated by the people, for the people. One of the main development teams behind Bitcoin is blockstream.
Bitcoin is a product of blockchain technology. Blockchain is what allows for the security and decentralization of Bitcoin. To understand Bitcoin and other cryptocurrencies, you must understand to some degree, blockchain. This can get extremely technical the further down the rabbit hole you go, and because this is technically a beginners guide, I’m going to try and simplify to the best of my ability and provide resources for further technical reading.

A Brief History

Bitcoin was created by Satoshi Nakamoto. The identity of Nakamoto is unknown. The idea of Bitcoin was first introduced in 2008 when Nakamoto released the Bitcoin white paper - Bitcoin: A Peer-to-Peer Electronic Cash System. Later, in January 2009, Nakamoto announced the Bitcoin software and the Bitcoin network officially began.
I should also mention that the smallest unit of a Bitcoin is called a Satoshi. 1 BTC = 100,000,000 Satoshis. When purchasing Bitcoin, you don’t actually need to purchase an entire coin. Bitcoin is divisible, so you can purchase any amount greater than 1 Satoshi (0.00000001 BTC).

What Is Blockchain?

Blockchain is a distributed ledger, a distributed collection of accounts. What is being accounted for depends on the use-case of the blockchain itself. In the case of Bitcoin, what is being accounted for is financial transactions.
The first block in a blockchain is referred to as the genesis block. A block is an aggregate of data. Blocks are also discovered through a process known as mining (more on this later). Each block is cryptographically signed by the previous block in the chain and visualizing this would look something akin to a chain of blocks, hence the term, blockchain.
For more information regarding blockchain I’ve provided more resouces below:

What is Bitcoin Mining

Bitcoin mining is one solution to the double spend problem. Bitcoin mining is how transactions are placed into blocks and added onto the blockchain. This is done to ensure proof of work, where computational power is staked in order to solve what is essentially a puzzle. If you solve the puzzle correctly, you are rewarded Bitcoin in the form of transaction fees, and the predetermined block reward. The Bitcoin given during a block reward is also the only way new Bitcoin can be introduced into the economy. With a halving event occurring roughly every 4 years, it is estimated that the last Bitcoin block will be mined in the year 2,140. (See What is Block Reward below for more info).
Mining is one of those aspects of Bitcoin that can get extremely technical and more complicated the further down the rabbit hole you go. An entire website could be created (and many have) dedicated solely to information regarding Bitcoin mining. The small paragraph above is meant to briefly expose you to the function of mining and the role it plays within the ecosystem. It doesn’t even scratch the surface regarding the topic.

How do you Purchase Bitcoin?

The most popular way to purchase Bitcoin through is through an online exchange where you trade fiat (your national currency) for Bitcoin.
Popular exchanges include:
  • Coinbase
  • Kraken
  • Cex
  • Gemini
There’s tons of different exchanges. Just make sure you find one that supports your national currency.

Volatility

Bitcoin and cryptocurrencies are EXTREMELY volatile. Swings of 30% or more within a few days is not unheard of. Understand that there is always inherent risks with any investment. Cryptocurrencies especially. Only invest what you’re willing to lose.

Transaction & Network Fees

Transacting on the Bitcoin network is not free. Every purchase or transfer of Bitcoin will cost X amount of BTC depending on how congested the network is. These fees are given to miners as apart of the block reward.
Late 2017 when Bitcoin got up to $20,000USD, the average network fee was ~$50. Currently, at the time of writing this, the average network fee is $1.46. This data is available in real-time on BitInfoCharts.

Security

In this new era of money, there is no central bank or government you can go to in need of assistance. This means the responsibility of your money falls 100% into your hands. That being said, the security regarding your cryptocurrency should be impeccable. The anonymity provided by cryptocurrencies alone makes you a valuable target to hackers and scammers. Below I’ve detailed out best practices regarding securing your cryptocurrency.

Two-Factor Authentication (2FA)

Two-factor authentication is a second way of authenticating your identity upon signing in to an account. Most cryptocurrency related software/websites will offer or require some form of 2FA. Upon creation of any crypto-related account find the Security section and enable 2FA.

SMS Authentication

The most basic form of 2FA which you are probably most familiar with. This form of authentication sends a text message to your smartphone with a special code that will allow access to your account upon entry. Note that this is not the safest form of 2FA as you may still be vulnerable to what is known as a SIM swap attack. SIM swapping is a social engineering method in which an attacker will call up your phone carrier, impersonating you, in attempt to re-activate your SIM card on his/her device. Once the attacker has access to your SIM card he/she now has access to your text messages which can then be used to access your online accounts. You can prevent this by using an authenticator such as Google Authenticator.

Authenticator

The use of an authenticator is the safest form of 2FA. An authenticator is installed on a seperate device and enabling it requires you input an ever changing six digit code in order to access your account. I recommend using Google Authenticator.
If a website has the option to enable an authenticator, it will give you a QR code and secret key. Use Google Authenticator to scan the QR code. The secret key consists of a random string of numbers and letters. Write this down on a seperate sheet of paper and do not store it on a digital device.
Once Google Authenticator has been enabled, every time you sign into your account, you will have to input a six-digit code that looks similar to this. If you happen to lose or damage the device you have Google Authenticator installed on, you will be locked out of your account UNLESS you have access to the secret key (which you should have written down).

Hardware Wallets

A wallet is what you store Bitcoin and cryptocurrency on. I’ll provide resources on the different type of wallets later but I want to emphasize the use of a hardware wallet (aka cold storage).
Hardware wallets are the safest way of storing cryptocurrency because it allows for your crypto to be kept offline in a physical device. After purchasing crypto via an exchange, I recommend transferring it to cold storage. The most popular hardware wallets include the Ledger Nano S, and Trezor.
Hardware wallets come with a special key so that if it gets lost or damaged, you can recover your crypto. I recommend keeping your recovery key as well as any other sensitive information in a safety deposit box.
I know this all may seem a bit manic, but it is important you take the necessary security precautions in order to ensure the safety & longevity of your cryptocurrency.

Technical Aspects of Bitcoin

TL;DR
  • Address: What you send Bitcoin to.
  • Wallet: Where you store your Bitcoin
  • Max Supply: 21 million
  • Block Time: ~10 minutes
  • Block Size: 1-2 MB
  • Block Reward: BTC reward received from mining.

What is a Bitcoin Address?

A Bitcoin address is what you send Bitcoin to. If you want to receive Bitcoin you’d give someone your Bitcoin address. Think of a Bitcoin address as an email address for money.

What is a Bitcoin Wallet?

As the title implies, a Bitcoin wallet is anything that can store Bitcoin. There are many different types of wallets including paper wallets, software wallets and hardware wallets. It is generally advised NOT to keep cryptocurrency on an exchange, as exchanges are prone to hacks (see Mt. Gox hack).
My preferred method of storing cryptocurrency is using a hardware wallet such as the Ledger Nano S or Trezor. These allow you to keep your crypto offline in physical form and as a result, much more safe from hacks. Paper wallets also allow for this but have less functionality in my opinion.
After I make crypto purchases, I transfer it to my Ledger Nano S and keep that in a safe at home. Hardware wallets also come with a special key so that if it gets lost or damaged, you can recover your crypto. I recommend keeping your recovery key in a safety deposit box.

What is Bitcoins Max Supply?

The max supply of Bitcoin is 21 million. The only way new Bitcoins can be introduced into the economy are through block rewards which are given after successfully mining a block (more on this later).

What is Bitcoins Block Time?

The average time in which blocks are created is called block time. For Bitcoin, the block time is ~10 minutes, meaning, 10 minutes is the minimum amount of time it will take for a Bitcoin transaction to be processed. Note that transactions on the Bitcoin network can take much longer depending on how congested the network is. Having to wait a few hours or even a few days in some instances for a transaction to clear is not unheard of.
Other cryptocurrencies will have different block times. For example, Ethereum has a block time of ~15 seconds.
For more information on how block time works, Prabath Siriwardena has a good block post on this subject which can be found here.

What is Bitcoins Block Size?

There is a limit to how large blocks can be. In the early days of Bitcoin, the block size was 36MB, but in 2010 this was reduced to 1 MB in order to prevent distributed denial of service attacks (DDoS), spam, and other malicious use on the blockchain. Nowadays, blocks are routinely in excess of 1MB, with the largest to date being somewhere around 2.1 MB.
There is much debate amongst the community on whether or not to increase Bitcoin’s block size limit to account for ever-increasing network demand. A larger block size would allow for more transactions to be processed. The con argument to this is that decentralization would be at risk as mining would become more centralized. As a result of this debate, on August 1, 2017, Bitcoin underwent a hard-fork and Bitcoin Cash was created which has a block size limit of 8 MB. Note that these are two completely different blockchains and sending Bitcoin to a Bitcoin Cash wallet (or vice versa) will result in a failed transaction.
Update: As of May 15th, 2018 Bitcoin Cash underwent another hard fork and the block size has increased to 32 MB.
On the topic of Bitcoin vs Bitcoin Cash and which cryptocurrency is better, I’ll let you do your own research and make that decision for yourself. It is good to know that this is a debated topic within the community and example of the politics that manifest within the space. Now if you see community members arguing about this topic, you’ll at least have a bit of background to the issue.

What is Block Reward?

Block reward is the BTC you receive after discovering a block. Blocks are discovered through a process called mining. The only way new BTC can be added to the economy is through block rewards and the block reward is halved every 210,000 blocks (approximately every 4 years). Halving events are done to limit the supply of Bitcoin. At the inception of Bitcoin, the block reward was 50BTC. At the time of writing this, the block reward is 12.5BTC. Halving events will continue to occur until the amount of new Bitcoin introduced into the economy becomes less than 1 Satoshi. This is expected to happen around the year 2,140. All 21 million Bitcoins will have been mined. Once all Bitcoins have been mined, the block reward will only consist of transaction fees.

Technical Aspects Continued

Understanding Nodes

Straight from the Bitcoin.it wiki
Any computer that connects to the Bitcoin network is called a node. Nodes that fully verify all of the rules of Bitcoin are called full nodes.
In other words, full nodes are what verify the Bitcoin blockchain and they play a crucial role in maintaining the decentralized network. Full nodes store the entirety of the blockchain and validate transactions. Anyone can participate in the Bitcoin network and run a full node. Bitcoin.org has information on how to set up a full node. Running a full node also gives you wallet capabilities and the ability to query the blockchain.
For more information on Bitcoin nodes, see Andreas Antonopoulos’s Q&A on the role of nodes.

What is a Fork?

A fork is a divergence in a blockchain. Since Bitcoin is a peer-to-peer network, there’s an overall set of rules (protocol) in which participants within the network must abide by. These rules are put in place to form network consensus. Forks occur when implementations must be made to the blockchain or if there is disagreement amongst the network on how consensus should be achieved.

Soft Fork vs Hard Fork

The difference between soft and hard forks lies in compatibility. Soft forks are backwards compatible, hard forks are not. Think of soft forks as software upgrades to the blockchain, whereas hard forks are a software upgrade that warrant a completely new blockchain.
During a soft fork, miners and nodes upgrade their software to support new consensus rules. Nodes that do not upgrade will still accept the new blockchain.
Examples of Bitcoin soft forks include:
A hard fork can be thought of as the creation of a new blockchain that X percentage of the community decides to migrate too. During a hard fork, miners and nodes upgrade their software to support new consensus rules, Nodes that do not upgrade are invalid and cannot accept the new blockchain.
Examples of Bitcoin hard forks include:
  • Bitcoin Cash
  • Bitcoin Gold
Note that these are completely different blockchains and independent from the Bitcoin blockchain. If you try to send Bitcoin to one of these blockchains, the transaction will fail.

A Case For Bitcoin in a World of Centralization

Our current financial system is centralized, which means the ledger(s) that operate within this centralized system are subjugated to control, manipulation, fraud, and many other negative aspects that come with this system. There are also pros that come with a centralized system, such as the ability to swiftly make decisions. However, at some point, the cons outweigh the pros, and change is needed. What makes Bitcoin so special as opposed to our current financial system is that Bitcoin allows for the decentralized transfer of money. Not one person owns the Bitcoin network, everybody does. Not one person controls Bitcoin, everybody does. A decentralized system in theory removes much of the baggage that comes with a centralized system. Not to say the Bitcoin network doesn’t have its problems (wink wink it does), and there’s much debate amongst the community as to how to go about solving these issues. But even tiny steps are significant steps in the world of blockchain, and I believe Bitcoin will ultimately help to democratize our financial system, whether or not you believe it is here to stay for good.

Final Conclusions

Well that was a lot of words… Anyways I hope this guide was beneficial, especially to you crypto newbies out there. You may have come into this realm not expecting there to be an abundance of information to learn about. I know I didn’t. Bitcoin is only the tip of the iceberg, but now that you have a fundamental understanding of Bitcoin, learning about other cryptocurrencies such as Litecoin, and Ethereum will come more naturally.
Feel free to ask questions below! I’m sure either the community or myself would be happy to answer your questions.
Thanks for reading!

Related Links

Guides

Exchanges

submitted by MrCryptoDude to Bitcoin [link] [comments]

The best crypto and blockchain podcasts of 2019

For anyone who it interested in learning more about investing, crypto, finance, blockchain, and entrepreneurship can checkout this list I made of the top podcasts to follow in 2019 with some selected episodes chosen from each one:

Off The Chain With Anthony Pompliano
Host Anthony Pompliano talks to some of the most respected names in crypto and Wall Street to find out how intelligent investors from the new and old financial system are thinking about digital assets.
Top Episodes:
CZ, Founder and CEO of Binance: Binance and the Future of Global Crypto Regulation
Murad Mahmudov: The Ultimate Bitcoin Argument
Travis Kling: The Secrets of A Crypto Trader

Unchained: Your No-Hype Resource for All Things Crypto
This weekly, hour-long podcast with host Laura Shin dives deep into the people building the decentralized internet, the details of this technology that could underpin our future, and some of the thorniest topics in crypto, such as regulation, security and privacy.
Top Episodes:
Vitalik Buterin, Creator of Ethereum, On The Big Guy vs. The Little Guy
Naval Ravikant On How Crypto Is Squeezing VCs, Hindering Regulators, and Bringing Users Choice
Blockchain 101 with Andreas Antonoloulos

What Grinds My Gears
From Meltem Demirors and Jill Carlson, What Grinds My Gears is a podcast about the bizarre and buzzworthy happenings in the world of cryptocurrency. Each week, they delve into one key theme in crypto, and examine this theme through a broader financial, political, and cultural lens to learn from the past, understand the present, and explore the future.
Top Episodes:
An Unfetted Orgy Of Capitalism
It’s All About The DEX, Baby!
Tarred & Tethered

What Bitcoin Did
Since the birth of Bitcoin in 2009, a new class of Crypto assets built using the innovative design of the blockchain is disrupting technology and financial markets. In this podcast you will hear host Peter McCormack speak with crypto traders, miners, venture capitalist, investors, technical developers, CEOs, journalist and other people driving forward the growth of Bitcoin and other cryptocurrencies.
Link To Listen
Top Episodes:
Andreas Antonopoulos: What Happens When Bitcoin Takes Over?
Peter Van Valkenburg on Lightning & The Law
Tuur Demeester on Why Bitcoin Is In Heavy Accumulation

Untold Stories with Charlie Shrem
Host Charlie Shrem dives deep into the lives and personal histories of some of crypto’s most influential leaders. A focus on personal stories weaves together a nuanced, untold narrative of how the crypto movement truly came to be.
Top Episodes:
J. Maurice “Wiz” — The Real Story of Mt. Gox & How to Become a Self-Sovereign Bitcoin Miner
Arianna Simpson — Why Founders Shouldn’t Think About an Exit & Becoming BitGo’s 3rd Employee
Steven Nerayoff — Crypto as a Disruptive Technology & Governments Debasing Their Own Currencies

Tales From The Crypt
Tales from the Crypt is a podcast hosted by Marty Bent about Bitcoin. Join Marty, Editor in Chief of “the best newsletter in crypto”, as he sits down to discuss Bitcoin with interesting people.
Top Episodes:
Tales from the Crypt: Pierre Rochard Pt. I
Tales from the Crypt #3: Santiago Siri
Tales from the Crypt Ep1: The History of Bitcoin Pt. 1

The Token Daily with Soona Amhaz
Host soona amhaz sits down with the movers and shakers of the crypto industry to discuss the big ideas they spend their days thinking about. Soona and her guests examine everything from industry trends, to what books they’re reading, to human psychology and investing.
Top Episodes:
Taylor Pearson, Author of The End of Jobs: Markets Are Eating the World
Dani Grant, Analyst at Union Square Ventures: The VC Outlook on Crypto’s Trends and Future
Tony Sheng, Independent Analyst: A Writer’s Take on Bitcoin Lore

The Flippening
Flippening is for cryptocurrency investors. Each week host Clay Collins discusses the cryptocurrency economy, new investment strategies for maximizing returns, and stories from the front lines of financial disruption. Flippening is for a new class of investors that were not part of the financial services world before bitcoin, but got into the finance because of their passion for cryptoassets, blockchain, altcoins, and distributed ledger technology.
Top Episodes:
Strategies for Accumulating BTC (Instead of USD) w/ Tuur Demeester from Adamant Capital
The Economics of Cryptoasset Markets w/ Professor Stephen McKeon
Bootstrapping A Crypto Nation State From Scratch, w/ Eric Meltzer of INBlockchain

The Chain Reaction Podcast
Host Tom Shaughnessy of Delphi Digital converses with the top names in crypto and blockchain.
Top Episodes:
ConsenSys’ Joe Lubin: Ethereum’s Competition Isn’t Even Close
Delphi Digital’s March Analyst Call — Ethereum, Enjin and Our Short Term Bitcoin Outlook
Vision Hill Group’s Scott Army: Digital Asset Management of the Future

a16z Podcast
The a16z Podcast discusses tech and culture trends, news, and the future — especially as ‘software eats the world’. It features industry experts, business leaders, and other interesting thinkers and voices from around the world. This podcast is produced by Andreessen Horowitz (aka “a16z”), a Silicon Valley-based venture capital firm.
Top Episodes:
What Time Is It? From Technical to Product to Sales CEO
Principles and Algorithms for Work and Life
Five Open Problems Toward Building a Blockchain Computer

Unconfirmed: Insights and Analysis From the Top Minds in Crypto
Events in crypto take place at warp speed. This weekly crypto podcast reveals how the marquee names in crypto are reacting to the week’s top headlines. With host Laura Shin, the guests also discuss what they’re thinking about these days and reveal what they believe is on the horizon in crypto. Disclosure: Laura is a nocoiner.
Top Episodes:
To the Moon and Back With Polychain’s Olaf Carlson-Wee
Don Wilson of DRW Holdings on What’s Been Driving 2018’s Crypto Downturn
Hu Liang of Omniex on What Institutional Players Are Planning to Do in Crypto

The Unhashed Podcast
Unhashed breaks down the latest in Bitcoin news and developments and puts them into terms everyone can understand. Expect to be both entertained and educated about cryptocurrencies and blockchain. How do hardware wallets work and do they really keep you safe? Which crypto exchanges pose the greatest risk to the bitcoin ecosystem? Does Litecoin help or hinder bitcoin development? Expect the answers to these and many other questions from the Unhashed professionals offering different perspectives to all the blockchain issues you care about!
Top Episodes:
The Very Rich, Very Patient Binance Hacker
Bitcoin Goes High Fidelity
Initiating Unhash

The Scoop
The Block’s team, led by Frank Chaparro, draw out the freshest and deepest insights about digital assets from traditional Wall Street, crypto native, Fortune 500 and many other crypto ecosystem leaders. It’s light, fun and informative brain food!
Top Episodes:
A Conversation with Mark Yusko, CEO and CIO of Morgan Creek Capital Management
A Conversation with Stephen Palley, Partner at Anderson Kill
A Conversation with Emilie Choi, VP Business and Data, Coinbase

Base Layer
Base Layer with host David Nage will be providing insights from founders and investors in the base layer of cryptoassets. Simplifying complex projects and the technology being developed, from interoperability to relayers and more — who is building the future, why are they and how are they doing it.
Top Episodes:
Base Layer Episode 028 — Zaki Manian (SkuChain, Cosmos, Tendermint)
Base Layer Episode 026 — Diogo Monica (Co — Founder, Anchorage)
Base Layer Episode 032 — Alexander Skidanov (NEAR)

Blockchain Innovation: Interviewing The Brightest Minds In Blockchain
Blockchain Innovation is where host Frederick Munawa interviews the brightest minds in Blockchain and cryptocurrency — entrepreneurs, executives, and top academics — to discuss present and future applications of Blockchain Technology. Why? To determine how Blockchain can be used to increase profits, cut costs, and disrupt traditional industries and business models — so you can borrow their strategies, tools, and tactics for your own success. Join Frederick every Tuesday to learn how the brightest minds in Blockchain are pushing the envelope with Initial Coin Offerings (ICOs) and token sales, public blockchains, private blockchains, Bitcoin, Ethereum, Hyperledger, smart contracts, and much more.
Top Episodes:
Why Bitcoin Should Hard Fork With Roger Ver
How Blockchain Assets Are Changing The World With Erik Voorhees
Blockchain Meets Artificial Intelligence with Dr. Ben Goertzel

Blockchain Insider
Blockchain Insider, hosted by Simon Taylor and Colin Platt is a dedicated podcast specializing in Bitcoin, Blockchain and distributed ledger technology (DLT). Simon and Colin break down the week’s news with expertise and enthusiasm for the blockchain and digital currency sector. Since the price of Bitcoin has rocketed, and Bitcoin, Ethereum and Litecoin have become household names, Blockchain Insider has charted their rise in a way that’s accessible to new listeners.
Top Episodes:
Ep. 42. Santander Makes Ripples and Charles Hoskinson Shares His Vision of Cardano
Ep. 27. XRP’s Ripple effect and Blockchain use cases
Ep. 43. Sexism in Crypto, Pornhub takes Verge, and Binance Denies the Dollar

Let’s Talk Crypto
Have you ever heard of digital currencies like bitcoin, ethereum, and buzzwords like blockchain, cryptocurrencies and mining? Don’t know what it all means or how to get started? Let’s Talk Crypto with Barry Moore and Tom Galeski breaks it all down in easy to understand terms and helps you “learn and earn” in the age of cryptocurrencies.
Top Episodes:
006: Altcoins
017: Fiat & Crypto
010: Proof of Work vs. Proof of Stake

Blockchain 2025
Blockchain is a technology that will disrupt nearly every industry. Host Matt Aaron and Blake Moore explore one industry in every episode. How will blockchain change art, music, or online advertising? What projects are already underway? Listen & find out.
Top Episodes:
Online Ads — Publishers and Advertisers vs. Centralized Platforms
Music Biz — Can Artists Have More Money + Freedom?
Crypto Debit Cards — A Bridge to the Future? TenX, Monaco, Comit

IBM Blockchain Pulse
Host and blockchain-evangelist Matt Hooper engages with the planet’s most dynamic blockchain thought-leaders, explorers and innovators to discover the countless new ways blockchain is leaping from theory to reality: From entertainment to identity, from payments to secure supply-chain transparency.
Top Episodes:
Making Cross-Border Payments Seamless — IBM Blockchain and Stellar’s Collaboration That is Bringing Commercial Payments to the Financial World
A Blockchain Origin Story and Enabling Complete Ownership With Blockchain
The Future of Protecting Your Wallet and Identity: Blockchain Identity and Digital Credentials, with Adam Gunther and Drummond Reed

Messari’s Unqualified Opinions
Unqualified Opinions is a podcast hosted by Messari’s CEO Ryan Selkis featuring candid, fast-paced interviews with crypto’s top builders and investors.
Top Episodes:
Bill Barhydt, CEO & Founder of Abra
Anthony Pompliano, Founder at Morgan Creek Digital
Unlock Protocol CEO Julien Genestoux
submitted by RndmWrdCombntn to podcasts [link] [comments]

The Growth Of Crypto Exchanges

The Growth Of Crypto Exchanges

https://preview.redd.it/3j0ncan5cme31.jpg?width=1920&format=pjpg&auto=webp&s=bb4084dbb21b395146d9ef152a6aaba3f76a868e
Bitcoin was created in 2009, since then a whole industry has emerged around it. One major group of players in the industry are the crypto exchanges. Even though it did not roll out in 2009 with Bitcoin, this sector is responsible for a lot of the development that has happened around Bitcoin and crypto. By taking a look at the growth of crypto exchanges, you will understand how the entire industry has evolved.
First of all, let us consider the existing crypto exchanges and how they have evolved over the years. Here is a list of some of the major exchanges and their launch dates (year):
Exchange Launch Dates (By Year)
  • 2010 – Mt Gox
  • 2011 – BitPay, BitStamp, BTC-e, Kraken
  • 2012 – Bitfinex, Coinbase, LocalBitcoins.
  • 2013 – Bitcoin Suisse AG, BitGo, BitMain, BitPesa, Bittrex, CEX.IO, Coinfloor, Huobi, ShapeShift.
  • 2014 – BitMex, Coincheck, OKEx, Xapo, Poloniex, KuCoin
  • 2015 – Bitwala
  • 2016 – BuyUcoin
  • 2017 – Binance
The above list is not exhaustive, however, a closer look at it reveals a trend that has been key to how Bitcoin has developed over the years. This trend, which coincides with the growth of crypto exchanges reveals how important that singular sector has become in the life of Bitcoin and cryptocurrencies.
2013 Was an Important Year in the History of Cryptocurrencies
The year 2013 has the highest number of new exchanges that came to life. This is the year that we can attach to the initial boost in the awareness of Bitcoin. Even the infamous Mt Gox, which started in 2010, became very popular in 2013. By this time, it was handling over 70% of all Bitcoins worldwide.
Bitcoin’s first attempt at the $1,000 mark was also in 2013. It was after this rise that it entered into the first crypto winter which lasted until the second half of 2016. That was when the biggest boom kicked in, dragging us through 2017 until an all time high price was achieved in January 2018.
A lot of other exchanges that are not listed above have also come into existence, especially after the 2017 exceptional price surge. Having coincided with the ICO boom era, the price surge happened when many projects were still in incubation. Among them were also a lot of exchanges.
New Generation Exchanges
Between 2017 to date, what we will choose to call a new generation of exchanges have made their presence known and contributed to the growth of crypto exchanges. Some of them include LAToken, Shortex, Bitforex, BitMax and many others. What these exchanges have been able to achieve is expansion in the industry and increased accessibility to users across the globe.
As many as they are, even as their primary goal is to provide access for users in the industry, the kind of services that the exchanges provide vary. It is the uniqueness of their services that determine the class of customers that particular exchanges attract. Some of them offer margin trading services, while others don’t. Some are strictly cryptocurrency exchanges, while others allow fiat transactions. The variations are too numerous to mention and can be confusing to users at times.
The good thing today is that platforms like tap have found solutions that harmonize the activities of the numerous exchanges and allow users to access them from a single point. Be it crypto-to-crypto trading, or crypto-to-fiat transactions, all can be executed on fiat.
The crypto-enabled transactions and other related services that tap offers cannot be exhausted in this post. However, it is interesting to note that for traders, or those who make use of the tap prepaid MastercardⓇ, the platform ensures that the best prices are provided for them. This is achieved through a software that scans through multiple exchanges to select the most competitive price whenever a trade or transaction is initiated.
Innovations such as this, and many more that we are seeing today all contribute to the growth of crypto exchanges and the expansion of the industry at large.
https://www.tap.global/the-growth-of-crypto-exchanges
submitted by OliAustin101 to Cryptochillout [link] [comments]

OnePageX: King of all Exchange

♢ Introduction
A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. Cryptocurrencies are alternative to fiat currency and they are decentralized: can be easily transferred or traded against each other on crypto exchange platforms without a central authority moderation.
In 2009, Satoshi Nakamoto was credited for the development of Bitcoin, the world's first ever decentralized cryptocurrency. It wasn't the first time an attempt would be made in developing a digital currency, in 1983 the American cryptographer David Chaum conceived an anonymous cryptographic electronic money called ecash. Later, in 1995, he implemented it through Digicash, an early form of cryptographic electronic payments which required user software in order to withdraw notes from a bank and designate specific encrypted keys before it can be sent to a recipient. This allowed the digital currency to be untraceable by the issuing bank, the government, or a third party.
Following the development of Bitcoin by the anonymous cryptographer Satoshi Nakamoto (fictitious name), over 4000 Altcoins or crypto currencies had been developed in the likes of Ethereum, Litecoin, EOS,XRP and the rest. Each of this new crypto currencies trends the same path as Bitcoin with all operating on a decentralzed platforms using the power of the blockchain technology.
The emergence of decentralized digital currency allows easy transfer of assets and execution of various transactions without moderation from centralized authorities. Digital currency threatened to disrupt the world centralize economy. Centralized financial institutions like banks are wary of the threat digital currency like bitcoin carries.
♢ Blockchain
The decentralized control of each cryptocurrency works through distributed ledger technology, called a blockchain, that serves as a public financial transaction database. Blockchain is an open distribute ledger that helps record transactions history between two parties efficiently and in a verifiable and permanent way. By design, Blockchain is resistant to the modification of the data it stores, as each block contains a cryptographic hash of the previous block, a timestamp, and transaction data, making it impossible to be compromised.
♢Cryptocurrency Exchange
Developing a digital currency is a thing, being able to trade it for value is another, and, that is where crypto exchange platform comes in.cryptocurrency-exchange-rate-panel-3d-260nw-795136543.jpg A crypto Exchange, is simply-put, where digital currencies or crypto currencies are traded. It is a decentralized digital marketplace that allows the trading of crypto currencies against other digital currencies or against conventional fiat currency. Of a truth, we have vast number of exchanges currently in operation in the crypto sphere but all not excluding one are doing same thing, operating in the same manner.
And OnePageX is is just one of the crypto exchange but, with unique features that set it aside from the rest.
♢ Concepts
A crypto currency exchange can be:
■ A brick-and-mortal business
It is a brick-and-mortal business when it exchanges traditional payment methods and digital currencies.
■ As an online business
In this case, electronically transferred money are exchange for digital currencies.
♢ Philosophy Behind OnePageX Cryptocurrency Exchange
OnePageX is not doing something special, but it's doing somethings different. OnePageX is an exchange platform built to execute digital currencies transfer and conversion with simplest simplicity. One thing OnePageX is doing different to other exchange is, all processes of transfer and conversion of digital currencies are carried out on a page and users dont need to sign up to trade on OnePageX which further strengthen the security of user private information. Binance, Huobi, and OKEX are largely regarded as the largest cryptocurrency exchanges, but none can boast of the 150+ choice of cryptocurrencies available for trade on OnePageX.
♢ OnePageX Vision
To enable crypto currencies trade on a simple interface.
♢Key Features of OnePageX
• No Registration!
Who needs to register?. OnePageX allows on-the-go exchange process without need for registration helping strengthen anonymity of it users. With no private details needed to be provided, identity of users is strictly concealed. With no registration, transactions can be carried out on the go, which make things a lot easier, faster and secure.
• OneBox Widget
OnePageX widget called OneBox which can be integrated into websites just by copy-pasting a snippet. This feature automatically makes OnePageX inerface to be readily available on these websites, therby allowing users of the websites access to quick cryptocurrency exchange.
• OnePage Transactions
The simplicity by which transactions are executed on OnePageX is adoring. Simple as you can think, multiple transactions are executed on a single page, and this transactions are saved in the form of cards that users can come back to and use any time.
• Selection
Since bitcoin inception in 2009, over 4,000 other Altcoins had been developed. Over 150+ cryto currencies are available for selection on OnePageX more than any other cryptocurrency exchange giving traders wide range of option of cryptocurrency to trade. OnePageX integrates with other exchange to find the best price for any given cryptocurrency.
♢ How to use OnePageX
OnePageX is the easiest to use out of any cryptocurrency exchanges.
Pick an asset to convert to. Enter a withdrawal address. Click “Start Exchange” A card will appear with a deposit address. Simply deposit to that address and you are done.
Each individual card will display a live transaction status that will let the user know about their transaction.source
♢ Benefits of Using OnePageX
• Cost efficient • Time efficient • Friendly interface • High security • Easy navigation • Large collection of cryptocurrencies.
NOTE: Transaction fee for 2018 is 0%
♢ Use case and Application
Kenneth Bridge is the C.E.O of an online shopping mall who is looking to use the strength of the growing crypto market and also adopt the blockchain technology to his companys' advantage. At their executives meeting, Mr Bridge proposed the adoption of cryptocurrencies for shopping on their online mall. The tasks remain;
1.How to bring a crypto exchange on their already existing website 2.Since customers will be buying goods with different crypto currencies, an exchange with the largest collection if not all crypto currencies is needed.
The Option of OnePageX was put on the table. An exchange with the largest collection of cryptocurrencies (150+), and also has a widget that can be integrated on the company's already existing website that will allow customers carry out crypto transaction in a fast, efficient and simple way on their website. OnePageX was adopted.
♢ Conclusion
OnePageX is undisputedly a step ahead it rival exchanges. Built to execute transactions in the easiest manner ever witnessed in the world of exchange and with it no registration feature which further strengthens users anonymity, will in no doubt leads to it mass adoption. By no arguement, OnePageX is taking crypto exchange to a new level.
More Information & Resources: OnePageX Website: https://onepagex.com/ OnePageX Steemit: https://steemit.com/@onepagex OnePageX Reddit: https://www.reddit.com/useonepagex OnePageX Twitter: https://twitter.com/OnePageExchange OnePageX Instagram: https://www.instagram.com/onepageexchange/
submitted by Tonyryce to u/Tonyryce [link] [comments]

OnePageX: King of all Exchange

♢ Introduction
A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets. Cryptocurrencies are alternative to fiat currency and they are decentralized: can be easily transferred or traded against each other on crypto exchange platforms without a central authority moderation.
In 2009, Satoshi Nakamoto was credited for the development of Bitcoin, the world's first ever decentralized cryptocurrency. It wasn't the first time an attempt would be made in developing a digital currency, in 1983 the American cryptographer David Chaum conceived an anonymous cryptographic electronic money called ecash. Later, in 1995, he implemented it through Digicash, an early form of cryptographic electronic payments which required user software in order to withdraw notes from a bank and designate specific encrypted keys before it can be sent to a recipient. This allowed the digital currency to be untraceable by the issuing bank, the government, or a third party.
Following the development of Bitcoin by the anonymous cryptographer Satoshi Nakamoto (fictitious name), over 4000 Altcoins or crypto currencies had been developed in the likes of Ethereum, Litecoin, EOS,XRP and the rest. Each of this new crypto currencies trends the same path as Bitcoin with all operating on a decentralzed platforms using the power of the blockchain technology.
The emergence of decentralized digital currency allows easy transfer of assets and execution of various transactions without moderation from centralized authorities. Digital currency threatened to disrupt the world centralize economy. Centralized financial institutions like banks are wary of the threat digital currency like bitcoin carries.
♢ Blockchain
The decentralized control of each cryptocurrency works through distributed ledger technology, called a blockchain, that serves as a public financial transaction database. Blockchain is an open distribute ledger that helps record transactions history between two parties efficiently and in a verifiable and permanent way. By design, Blockchain is resistant to the modification of the data it stores, as each block contains a cryptographic hash of the previous block, a timestamp, and transaction data, making it impossible to be compromised.
♢Cryptocurrency Exchange
Developing a digital currency is a thing, being able to trade it for value is another, and, that is where crypto exchange platform comes in.cryptocurrency-exchange-rate-panel-3d-260nw-795136543.jpg A crypto Exchange, is simply-put, where digital currencies or crypto currencies are traded. It is a decentralized digital marketplace that allows the trading of crypto currencies against other digital currencies or against conventional fiat currency. Of a truth, we have vast number of exchanges currently in operation in the crypto sphere but all not excluding one are doing same thing, operating in the same manner.
And OnePageX is is just one of the crypto exchange but, with unique features that set it aside from the rest.
♢ Concepts
A crypto currency exchange can be:
■ A brick-and-mortal business
It is a brick-and-mortal business when it exchanges traditional payment methods and digital currencies.
■ As an online business
In this case, electronically transferred money are exchange for digital currencies.
♢ Philosophy Behind OnePageX Cryptocurrency Exchange
OnePageX is not doing something special, but it's doing somethings different. OnePageX is an exchange platform built to execute digital currencies transfer and conversion with simplest simplicity. One thing OnePageX is doing different to other exchange is, all processes of transfer and conversion of digital currencies are carried out on a page and users dont need to sign up to trade on OnePageX which further strengthen the security of user private information. Binance, Huobi, and OKEX are largely regarded as the largest cryptocurrency exchanges, but none can boast of the 150+ choice of cryptocurrencies available for trade on OnePageX.
♢ OnePageX Vision
To enable crypto currencies trade on a simple interface.
♢Key Features of OnePageX
• No Registration!
Who needs to register?. OnePageX allows on-the-go exchange process without need for registration helping strengthen anonymity of it users. With no private details needed to be provided, identity of users is strictly concealed. With no registration, transactions can be carried out on the go, which make things a lot easier, faster and secure.
• OneBox Widget
OnePageX widget called OneBox which can be integrated into websites just by copy-pasting a snippet. This feature automatically makes OnePageX inerface to be readily available on these websites, therby allowing users of the websites access to quick cryptocurrency exchange.
• OnePage Transactions
The simplicity by which transactions are executed on OnePageX is adoring. Simple as you can think, multiple transactions are executed on a single page, and this transactions are saved in the form of cards that users can come back to and use any time.
• Selection
Since bitcoin inception in 2009, over 4,000 other Altcoins had been developed. Over 150+ cryto currencies are available for selection on OnePageX more than any other cryptocurrency exchange giving traders wide range of option of cryptocurrency to trade. OnePageX integrates with other exchange to find the best price for any given cryptocurrency.
♢ How to use OnePageX
OnePageX is the easiest to use out of any cryptocurrency exchanges.
Pick an asset to convert to. Enter a withdrawal address. Click “Start Exchange” A card will appear with a deposit address. Simply deposit to that address and you are done.
Each individual card will display a live transaction status that will let the user know about their transaction.source
♢ Benefits of Using OnePageX
• Cost efficient • Time efficient • Friendly interface • High security • Easy navigation • Large collection of cryptocurrencies.
NOTE: Transaction fee for 2018 is 0%
♢ Use case and Application
Kenneth Bridge is the C.E.O of an online shopping mall who is looking to use the strength of the growing crypto market and also adopt the blockchain technology to his companys' advantage. At their executives meeting, Mr Bridge proposed the adoption of cryptocurrencies for shopping on their online mall. The tasks remain;
1.How to bring a crypto exchange on their already existing website 2.Since customers will be buying goods with different crypto currencies, an exchange with the largest collection if not all crypto currencies is needed.
The Option of OnePageX was put on the table. An exchange with the largest collection of cryptocurrencies (150+), and also has a widget that can be integrated on the company's already existing website that will allow customers carry out crypto transaction in a fast, efficient and simple way on their website. OnePageX was adopted.
♢ Conclusion
OnePageX is undisputedly a step ahead it rival exchanges. Built to execute transactions in the easiest manner ever witnessed in the world of exchange and with it no registration feature which further strengthens users anonymity, will in no doubt leads to it mass adoption. By no arguement, OnePageX is taking crypto exchange to a new level.
More Information & Resources: OnePageX Website: https://onepagex.com/ OnePageX Steemit: https://steemit.com/@onepagex OnePageX Reddit: https://www.reddit.com/useonepagex OnePageX Twitter: https://twitter.com/OnePageExchange OnePageX Instagram: https://www.instagram.com/onepageexchange/
submitted by Tonyryce to u/Tonyryce [link] [comments]

Blockchain Wallets

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What a Blockchain Wallet is? What is its purpose?
Find the answer after reading this article.
Public/Private Key
The public key is the digital code you give to someone that wants to transfer ownership of a unit of cryptocurrency to you; and a private key is what you need to be able to unlock your own wallet to transfer a unit of a cryptocurrency to someone else. The encoding of information within a wallet is done by the private and public keys. That is the main component of the encryption that maintains the security of the wallet. Both keys function in simultaneous encryption systems called symmetric and asymmetric encryption. The former, alternatively known as private key encryption, makes use of the same key for encryption and decryption. The latter, asymmetric encryption, utilizes two keys, the public and private key, wherein a message-sender encrypts the message with the public key, and the recipient decodes it with their private key. The public key uses asymmetric algorithms that convert messages into an unreadable format. A person who possesses a public key can encrypt the message for a specific receiver.
Accessing wallets
Methods of wallet access vary depending on the type of wallet being used. Various types of currency wallets on an exchange will normally be accessed via the exchange’s entrance portal, normally involving a combination of a username/password and optionally, 2FA (Two factor authentication, which we explain in more detail later). Whereas hardware wallets need to be connected to an internet enabled device, and then have a pin code entered manually by the user in possession of the hardware wallet in order for access to be gained. Phone wallets are accessed through the device on which the wallet application has been downloaded. Ordinarily, a passcode and/or security pattern must be entered before entry is granted, in addition to 2FA for withdrawals.
Satoshi Nakamoto built the Satoshi client which evolved into Bitcoin in 2009. This software allowed users to create wallets and send money to other addresses. However, it proved to be a nightmarish user experience, with many transactions being sent to incorrect addresses and private keys being lost. The MtGox (Magic the Gathering Online exchange, named after the original intended use of the exchange) incident, which will be covered in greater detail later, serves as a reminder of the dangers present in the cryptosphere regarding security, and the need to constantly upgrade your defenses against all potential hacks. The resulting loss of 850k BTC is a still unresolved problem, weighing heavily on the victims and the markets at large. This caused a huge push for a constantly evolving and improving focus on security. Exchanges that developed later, and are thus considered more legitimate and secure, such as Gemini and Coinbase, put a much greater emphasis on vigilance as a direct result of the MtGox hacking incident. We also saw the evolution of wallet security into the physical realm with the creation of hardware wallets, most notable among them the Ledger and Trezor wallets.
Types of Wallets & Storage Methods
The simplest way to sift through the dozens of cryptocurrency storage methods available today, is to divide them up into digital and non-digital, software and hardware wallets. There are also less commonly used methods of storage of private keys, like paper wallets and brain wallets. We will examine them all at least briefly, because in the course of your interaction with cryptocurrencies and Blockchain technology, it is essential to master all the different types of hardware and software wallets. Another distinction must be made between hot wallets and cold wallets. A hot wallet is one that is connected to the internet, and a cold wallet is one that is not. Fun fact: The level below cold storage, deep cold storage has just recently been implemented by the Regal RA DMCC, a subsidiary of an internationally renowned gold trading company licensed in the Middle East. After having been granted a crypto trading license, Regal RA launched their “deep cold” storage solution for traders and investors, which offers the ability to store crypto assets in vaults deep below the Almas Tower in Dubai. This storage method is so secure that at no point is the vault connected to a network or the internet; meaning the owners of the assets can be sure that the private keys are known only to the rightful owners.
Lets take a quick look at specific features and functionality of varieties of crypto wallets. Software wallets: wallet applications installed on a laptop, desktop, phone or tablet. Web Wallets: A hot wallet by definition. Web Wallets are accessible through the web browser on your phone or computer. The most important feature to recognize about any kind of web wallet, is that the private keys are held and managed by a trusted third party. MyEtherWallet is the most commonly used non-exchange web wallet, but it can only be used to store Ethereum and ERC-20 tokens.
Though the avenue of access to MEW is through the web, it is not strictly speaking a web wallet, though this label will suffice for the time being. The MEW site gives you the ability to create a new wallet so you can store your ETH yourself. All the data is created and stored on your CPU rather than their servers. This makes MEW a hybrid kind of web wallet and desktop wallet. Exchange Wallets: A form of Web Wallet contained within an exchange. An exchange will hold a wallet for each individual variety of cryptocurrency you hold on that exchange. Desktop Wallets: A software program downloaded onto your computer or tablet hard drive that usually holds only one kind of cryptocurrency. The Nano Wallet (Formerly Raiwallet) and Neon wallet for storage of NEO and NEP-5 tokens are notable examples of desktop wallets Phone Wallets: These are apps downloaded onto a mobile phone that function in the same manner as a desktop wallet, but actually can hold many different kinds of cryptocurrency. The Eidoo Wallet for storing Ethereum and its associated tokens and Blockchain Wallet which currently is configured to hold BTC, ETH and Bitcoin Cash, are some of the most widely used examples.
Hardware wallets — LedgeTrezoAlternatives
Hardware wallets are basically physical pathways and keys to the unique location of your crypto assets on the Blockchain. These are thought to be more secure than any variety of web wallet because the private key is stored within your own hard wallet, an actual physical device. This forcibly removes the risk your online wallet, or your exchange counter party, might be hacked in the same manner as MtGox. In hardware wallet transactions, the wallet’s API creates the transaction when a user requests a payment. An API is a set of functions that facilitates the creation of applications that interact and access features or data of an operating system. The hardware then signs the transaction, and produces a public key, which is given to the network. This means the signing keys never leave the hardware wallet. The user must both enter a personal identification number and physically press buttons on the hardware wallet in order to gain access to their Blockchain wallet address through this method, and do the same to initiate transfers.
Paper Wallets
Possibly the safest form of cryptocurrency storage in terms of avoiding hacking, Paper Wallets are an offline form of crypto storage that is free to set up, and probably the most secure way for users, from beginners to experts, to hold on to their crypto assets. To say it simply, paper wallets are an offline cold storage method of storing cryptocurrency. This includes actually printing out your public and private keys on a piece of paper, which you then store and save in a secure place. The keys are printed in the form of QR codes which you can scan in the future for all your transactions. The reason why it is so safe is that it gives complete control to you, the user. You do not need to worry about the security or condition of a piece of hardware, nor do you have to worry about hackers on the net, or any other piece of malware. You just need to take care of one piece of paper!
Real World Historical Examples of Different Wallet Types
Web Wallet: Blockchain.info Brief mechanism & Security Blockchain.info is both a cryptocurrency wallet, supporting Bitcoin, Ethereum and Bitcoin cash, and also a block explorer service. The wallet service provided by blockchain.info has both a Web Wallet, and mobile phone application wallet, both of which involve signing up with an email address, and both have downloadable private keys. Two Factor Authentication is enabled for transfers from the web and mobile wallets, as well as email confirmation (as with most withdrawals from exchanges). Phone Wallet: Eidoo The Eidoo wallet is a multi-currency mobile phone app wallet for storage of Ethereum and ERC-20 tokens. The security level is the standard phone wallet level of email registration, confirmation, password login, and 2 factor authentication used in all transfers out. You may find small volumes of different varieties of cryptocurrencies randomly turning up in your Eidoo wallet address. Certain projects have deals with individual wallets to allow for “airdrops” to take place of a particular token into the wallet, without the consent of the wallet holder. There is no need to be alarmed, and the security of the wallet is not in any way compromised by these airdrops.
Neon Wallet
The NEON wallet sets the standard for web wallets in terms of security and user-friendly functionality. This wallet is only designed for storing NEO, Gas, and NEP-5 tokens (Ontology, Deep Brain Chain, RPX etc.). As with all single-currency wallets, be forewarned, if you send the wrong cryptocurrency type to a wallet for which it is not designed, you will probably lose your tokens or coins. MyEtherWallet My Ether Wallet, often referred to as MEW, is the most widely used and highly regarded wallet for Ethereum and its related ERC-20 tokens. You can access your MEW account with a hardware wallet, or a different program. Or you can also get access by typing or copying in your private key. However, you should understand this method is the least safe way possible,and therefore is the most likely to result in a hack. Hardware: TrezoLedger Brief History Mechanism and Security A hardware wallet is a physical key to your on-chain wallet location, with the private keys contained within a secure sector of the device. Your private key never leaves your hardware wallet. This is one of the safest possible methods of access to your crypto assets. Many people feel like the hardware wallet strikes the right balance between security, peace of mind, and convenience. Paper Wallet Paper wallets can be generated at various websites, such as https://bitcoinpaperwallet.com/ and https://walletgenerator.net/. They enable wallet holders to store their private keys totally offline, in as secure a manner as is possible.
Real World Example — Poor Practices
MtGox Hack history effects and security considerations MtGox was the largest cryptocurrency exchange in the world before it was hacked in 2014. They were handling over 70% of BTC transactions before they were forced to liquidate their business. The biggest theft of cryptocurrency in history began when the private keys for the hot wallets were stolen in 2011 from a wallet.dat file, possibly by hacking, possibly by a rogue employee. Over the course of the next 3 years the hot wallets were emptied of approximately 650000 BTC. The hacker only needed wallet.dat file to access and make transfers from the hot wallet, as wallet encryption was only in operation from the time of the Bitcoin 0.4.0 release on Sept 23rd 2011. Even as the wallets were being emptied, the employees at Mt Gox were apparently oblivious to what was taking place. It seems that Mt Gox workers were interpreting these withdrawals as large transfers being made to more secure wallets. The former CEO of the exchange, Mark Karpeles, is currently on trial for embezzlement and faces up to 5 years in prison if found guilty. The Mt Gox hack precipitated the acceleration of security improvements on other exchanges, for wallets, and the architecture of bitcoin itself. As a rule of thumb, no small-to-medium scale crypto holders should use exchange wallets as a long-term storage solution. Investors and experienced traders may do this to take advantage of market fluctuations, but exchange wallets are perhaps the most prone to hacking, and storing assets on exchanges for an extended time is one of the riskiest ways to hold your assets.
In a case strikingly similar to the MtGox of 2011–2014, the operators of the BitGrail exchange “discovered” that approximately 17 million XRB ($195 million worth in early 2018) were missing. The operators of the exchange were inexplicably still accepting deposits, long after they knew about the hack. Then they proceeded to block withdrawals from non-EU users. And then they even requested a hard fork of the code to restore the funds. This would have meant the entire XRB Blockchain would have had to accept all transactions from their first “invalid” transaction that were invalid, and rollback the ledger. The BitGrailexchange attempted to open operations in May 2018 but was immediately forced to close by order of the Italian courts. BitGrail did not institute mandatory KYC (Know your customer) procedures for their clients until after the theft had been reported, and allegedly months after the hack was visible. They also did not have 2 factor authentication mandatory for withdrawals. All big, and very costly mistakes.
Case Study: Good Practice Binance, the Attempted Hack
During the 2017 bull run, China-based exchange Binance quickly rose to the status of biggest altcoin exchange in the world, boasting daily volumes that surged to over $4 billion per day in late December. Unfortunately, this success attracted the attention of some crafty hackers. These hackers purchased domain names that were confusingly similar to “binance.com”. And then they created sufficiently convincing replica websites so they could phish traders for their login information. After obtaining this vital info, the scammers created API keys to place large buy orders for VIAcoin, an obscure, low volume digital currency. Those large buy orders spiked VIA’s price. Within minutes they traded the artificially high-priced VIA for BTC. Then they immediately made withdrawal requests from the hacked BTC wallets to wallets outside of the exchange. Almost a perfect fait accompli! But, Binance’s “automating risk management system” kicked in, as it should, and all withdrawals were temporarily suspended, resulting in a foiled hacking attempt.
Software Wallets Web/Desktop/Phone/Exchange Advantages and Limitations
As we said before, it is inadvisable to store crypto assets in exchange wallets, and, to a lesser extent, Web Wallets. The specific reason we say that is because you need to deliver your private keys into the hands of another party, and rely on that website or exchange to keep your private key, and thus your assets, safe. The advantages of the less-secure exchange or web wallets, are the speed at which you can transfer assets into another currency, or into another exchange for sale or for arbitrage purposes. Despite the convenience factor, all software wallets will at some point have been connected to the internet or a network. So, you can never be 100% sure that your system has not been infected with malware, or some kind of keylogging software, that will allow a third party to record your passwords or private keys. How well the type of storage method limits your contact with such hazards is a good way to rate the security of said variety of wallet. Of all the software wallets, desktop and mobile wallets are the most secure because you download and store your own private key, preferably on a different system. By taking the responsibility of private key storage you can be sure that only one person has possession of it, and that is you! Thereby greatly increasing the security of your crypto assets. By having their assets in a desktop wallet, traders can guard their private key and enjoy the associated heightened security levels, as well keep their assets just one swift transfer away from an exchange.
Hardware Wallets Advantages and Limitations
We briefly touched on the features and operation of the two most popular hardware wallets currently on the market, the Ledger and Trezor wallets. Now it will be helpful to take a closer look into the pros and cons of the hardware wallet storage method. With hardware wallets, the private keys are stored within a protected area of the microcontroller, and they are prevented from being exported out of the device in plain text. They are fortified with state-of-the-art cryptography that makes them immune to computer viruses and malware. And much of the time, the software is open source, which allows user validation of the entire performance of the device. The advantages of a hardware wallet over the perhaps more secure paper wallet method of crypto storage is the interactive user experience, and also the fact that the private key must at some stage be downloaded in order to use the paper wallet. The main disadvantage of a hardware wallet is the time-consuming extra steps needed to transfer funds out of this mode of storage to an exchange, which could conceivably result in some traders missing out on profits. But with security being the main concern of the vast majority of holders, investors and traders too, this slight drawback is largely inconsequential in most situations.
Paper Wallets Advantages and Limitations
Paper wallets are thought by some to be the safest way to store your crypto assets, or more specifically, the best method of guarding the pathways to your assets on the Blockchain. By printing out your private key information, the route to your assets on the Blockchain is stored 100% offline (apart from the act of printing the private key out, the entire process is totally offline). This means that you will not run the risk of being infected with malware or become the victim of keylogging scams. The main drawback of using paper wallets is that you are in effect putting all your eggs in one basket, and if the physical document is destroyed, you will lose access to your crypto assets forever.
Key things to keep in mind about your Wallet Security: Recovery Phrases/Private Key Storage/2FA/Email Security
Recovery phrases are used to recover the on-chain location for your wallet with your assets for hardware wallets like ledgers and Trezors that have been lost. When you purchase a new ledger for example, you just have to set it up again by entering the recovery phrase into the display and the lost wallets will appear with your assets intact. Private key storage is of paramount importance to maintain the safety of your on-chain assets! This should be done in paper wallet form, or stored offline on a different computer, or USB device, from the one you would typically use to connect to the 2 Factor Authentication (2FA) sometimes known as “two step authentication”. This feature offers an extra security layer when withdrawing funds from cryptocurrency wallets. A specialized app, most commonly Google Authenticator, is synced up to the exchange to provide a constantly changing code. This code must be entered within a short time window to initiate transfers, or to log into an exchange, if it has also been enabled for that purpose.
You must always consider the level of fees, or the amount of Gas, that will be needed to carry out the transaction. In times of high network activity Gas prices can be quite high. In fact, in December 2017 network fees became so high that some Bitcoin transactions became absolutely unfeasible. But that was basically due to the anomalous network congestion caused by frantic trading of Bitcoin as it was skyrocketing in value. When copying wallet addresses, double check and triple check that they are correct. If you make a mistake and enter an incorrect address, it is most likely your funds will be irretrievably lost; you will never see those particular assets again. Also check that you haven’t input the address of another one of your wallets that is designed to hold a different variety of cryptocurrency. You would similarly run the very great risk of losing your funds forever. Or, at the very least, if you have sent the wrong crypto to a large exchange wallet, for example on Coinbase, maybe you could eventually get those funds back, but it would still entail a long and unenjoyable wait.
How to Monitor Funds
There are two ways to monitor you funds and your wallets. The first is by searching for individual wallet addresses on websites specifically designed to let you view all the transactions on a particular Blockchain. The other is to store a copy of your wallet contents on an application that tracks the prices of all cryptocurrencies. Blockchain.info is the block explorer for Bitcoin, and it allows you to track all wallet movements so you can view your holdings and all the historical transactions within the wallet. The Ethereum blockchain’s block explorer is called Ether scanner, and it functions in the same way. There is a rival to Ether scanner produced by the Jibrel Network, called JSearch which will be released soon. JSearch will aim to offer a more streamlined and faster search method for Ethereum blockchain transactions. There are many different kinds of block explorer for each individual crypto currency, including nanoexplorer.io for Nano (formerly Rai Blocks) and Neotracker for NEO. If you simply want to view the value of your portfolio, the Delta and Blockfolio apps allow you to easily do that. But they are not actually linked to your specific wallet address, they just show price movements and total value of the coins you want to monitor.
That’s not all! You can learn how to transfer and monitor the funds in and out of your wallet by clicking on the link.
To be continued!
UBAI.co
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Thermodynamics & Silent Weapons for Secret Wars or Crypto Anarchy 101: Statists Failing & Anarchists Thriving

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

Bitcoin Halving Theory, History Repeating, Nasdaq + R3, Binance Fiat, Swiss Crypto Association Binance Buying CoinMarketCap & Why It's Great for Bitcoin Price Bitcoin Price Recovery & Binance launches Libra Competitor? Binance API Tutorial (Part 2) - Real-Time Crypto Price Data over Websockets Binance Coin Price Predictions & News! Bitcoin Price Correction Over? Binance Launching Futures Trading Platform - Crypto News $100 Of Bitcoin In 2009, Today Worth $8,075,000,000! Look!

Bitcoin's price since it began in 2009 and all the way up to today. Complete with historical events and how they affected Bitcoin's price. Bitcoin history. Bitcoin is the first example of decentralized digital money established in 2008 by a person or a group of people under the pseudonym of Satoshi Nakamoto. This account of bitcoin history resumes the first ten-years (2008 - 2019) of the cryptocurrency. Bitcoin price since 2009 to 2019. Bitcoin price charts. Bitcoin Price History. The history of bitcoin trading has been very volatile since bitcoin was being introduced in 2009. Bitcoin digital cryptocurrency has passed through a whole lot of actions and reactions over its fairly short life. Bitcoin was initially traded for close to nothing. The first notable real price increase was experienced in ... Bitcoin Price History. Photo: A chart of bitcoin prices since its launch in 2009 to its peak value in 2017. Bitcoin was launched a little more than ten years. It was introduced in 2009 with a value of almost nothing. The first-ever bitcoin transaction happened on January 12, 2009, between founder Satoshi Nakamoto and programmer Hal Finney, whom Nakamoto rewarded with ten bitcoins. As of ... Discover historical prices for BTC-USD stock on Yahoo Finance. View daily, weekly or monthly format back to when Bitcoin USD stock was issued. Bitcoin’s unsteady road to $20,000 level shows us a definition of volatility from the very start. According to the BitcoinWiki’s data, traders could have bought 1,309.03 BTC for 1 USD back in October 2009.Yep, you have read that right, 1 US Dollar for what is now worth $15 million. There has been the volatile trading history of bitcoin since it was first formed in 2009. There has been many action with digital cryptocurrency in its short life. Initially, bitcoin traded for nothing but there was a real price increase in July 2010 when it increased from $0.0008 to $0.08 with a single coin. From that time, bitcoin price history has experience many crashes and rallies ...

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Bitcoin Halving Theory, History Repeating, Nasdaq + R3, Binance Fiat, Swiss Crypto Association

In today's video, we take a look at the binance expected acquisition of coinmarketcap and whether or not this is good for crypto. If you would like to be hig... Amazon Affiliate Link - (If You Buy Something On Amazon, I Get A Small Commission As A Way To Support The Channel) - (There is NO extra cost for you) https://amzn.to/39MXp4q Computer I Use To ... In this video, we retrieve bitcoin price data over Websockets in 2 ways. First, we use wscat to receive the information from the command line and save the price data to a file. Second, we use ... Some information about Binance, its native cryptocurrency Binance Coin, related news and my price predictions. What are your thoughts about these price predictions and the information contained ... Bitcoin Price briefly went below $10,000 before going back to the $10,600- $11,000 range and one question remains; Is the correction over? New reports also reveal that OGs aren't selling BTC ... A Small investment of just $100 In 2009 (If the Stats Are True) Would be worth a whopping $8 Billion Today! (Bitcoins Price When I Checked *$8,075*. Hopefully that can still happen with the Alt ... The Outperformer ALT, Why there is a risk of a shock Bitcoin Bull attack stranding many The Crypto Sniper 511 watching Live now Binance Venus Vs Facebook, Not Just Bitcoin, China Still Loves ...

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