Venezuelan Authorities to Govern All Bitcoin Mining, by Decree

Venezuelan Authorities to Govern All Bitcoin Mining, by Decree

Venezuelan Authorities to Govern All Bitcoin Mining, by Decree submitted by probotika to Bitcoin [link] [comments]

[Tech] Adriana Hamacher / Decrypt - "Venezuelan Authorities to Govern All Bitcoin Mining, by Decree"

[Tech] Adriana Hamacher / Decrypt - submitted by B-VOLLEYBALL-READY to KotakuInAction [link] [comments]

Venezuelan Authorities to Govern All Bitcoin Mining, by Decree

Venezuelan Authorities to Govern All Bitcoin Mining, by Decree submitted by SaneFive to BitcoinMining [link] [comments]

Venezuelan Authorities to Govern All Bitcoin Mining, by Decree - Decrypt

submitted by RagingCabbage115 to worldnews [link] [comments]

/r/worldnews - https://decrypt.co/42717/venezuelan-authorities-to-govern-all-bitcoin-mining-by-decree?utm_source=reddit&utm_medium=social&utm_campaign=sm

/worldnews
https://decrypt.co/42717/venezuelan-authorities-to-govern-all-bitcoin-mining-by-decree?utm\_source=reddit&utm\_medium=social&utm\_campaign=sm
submitted by Faction_Chief to NoFilterNews [link] [comments]

Venezuelan Authorities to Govern All Bitcoin Mining, by Decree [/u/probotika]

Venezuelan Authorities to Govern All Bitcoin Mining, by Decree [probotika] submitted by trueworldnews to worldGlance [link] [comments]

Breaking: China helps Core by stepping on miners?! State Grid Corporation that has issued the decree, in a move which calls into question the countrys ability to sustain bitcoin mining operations. /r/btc

Breaking: China helps Core by stepping on miners?! State Grid Corporation that has issued the decree, in a move which calls into question the countrys ability to sustain bitcoin mining operations. /btc submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Transcript of how Philip the tyrant admin of the Bitcoin Cash Telegram group called Spoice stupid, an idiot, a parrot among other insults then banned her instead of discussing Bitcoin Cash. That Telegram group is hostile, ABC/IFP shills run and follows the rBitcoin toxic censorship modus operandi.

David B., [18.10.20 01:46]
https://www.reddit.com/btc/comments/jdagi3/whats_up_with_the_bchn_hypocrisy/

David B., [18.10.20 01:47]
Wut x2

J Stodd, [18.10.20 01:49]
[In reply to David B.]
Their words are meaningless. They have no principles. Wish i could comment but bitcoinxio banned me from rbtc and never told me why

David B., [18.10.20 01:59]
These comments are so toxic

Spoice, [18.10.20 01:59]
In reality, the real continuation of Bitcoin as we all know it is what is carried on by BCHN, BU, BCHD and others

Spoice, [18.10.20 02:00]
ABC is changing the rules to something that is not Bitcoin

Spoice, [18.10.20 02:00]
anyone denying those facts is selling you snake oil

Spoice, [18.10.20 02:00]
If Blockstream tried to take some % to their own benefit, we would have never needed BCH in the first place

Spoice, [18.10.20 02:00]
everyone would have rejected them in a second

J Stodd, [18.10.20 02:01]
[In reply to Spoice]
Bitcoin Cash is not Bitcoin to start with, so who cares?

David B., [18.10.20 02:01]
[ Album ]

Spoice, [18.10.20 02:01]
yet we have ABC trying to pull this theft and all those puppets think it's ok

Spoice, [18.10.20 02:01]
JSTodd that's bullshit

David B., [18.10.20 02:01]
Like trying to talk to a core maxi about altcoins

Spoice, [18.10.20 02:01]
Bitcoin Cash is the most Bitcoin out of all Bitcoins

Spoice, [18.10.20 02:01]
it is the continuation of what Satoshi started

David B., [18.10.20 02:02]
Tbh they aren't even toxic

Michael Nunzio, [18.10.20 02:02]
[In reply to Spoice]
If the hash follows then it is Bitcoin Cash. Only if it doesn't is your claim true

J Stodd, [18.10.20 02:03]
[In reply to Spoice]
Bitcoin is Bitcoin. Bitcoin failed to be Peer to Peer Cash, so Bitcoin Cash attempted to fix this by forking Bitcoin and attacking the root of the problem. This does not mean Bitcoin Cash is literally Bitcoin. Adopt a different argument. Sorry if you bought into that bc of Rogers rantings

J Stodd, [18.10.20 02:05]
Bitcoin Cash can replace Bitcoin, and if Bitcoin dies and BCH wins then sure maybe it can take its name from its grave, but they are different products, trying to say Bitcoin stopped being "Bitcoin" and became BCH is a self contradiction.

Jingles, [18.10.20 02:08]
Jstodd's got some good points.

Jingles, [18.10.20 02:08]
He's learnt so much in the last year ☺️

Spoice, [18.10.20 02:08]
"Bitcoin is Bitcoin" is a false statement. BTC is just an instance of Bitcoin. Bitcoin is the set of rules defined in the whitepaper first and foremost, it is peer to peer electronic cash. BTC no longer fits that criteria. Bitcoin Cash meets them. The fork proposed by ABC also fails to meet that criteria. Therefore the continuation of Bitcoin is in whatever BU, BCHN, Flowee and others will continue.

Jingles, [18.10.20 02:09]
What rules were defined in the WP?

Spoice, [18.10.20 02:10]
Let's see which rules aren't: 1) No coinbase tax going to any centralized entity such as ABC 2) No throttling of TX throughput such as BTC

Spoice, [18.10.20 02:10]
therefore they both fail the simple "Is this Bitcoin?" test

Spoice, [18.10.20 02:11]
Finally, Michael, if you think Hash rate defines what Bitcoin is, you should stick to BTC

Jingles, [18.10.20 02:11]
21 million coins isn't in the WP

Jingles, [18.10.20 02:11]
I asked what rules did the WP define.

Spoice, [18.10.20 02:12]
Because BCH failed that criteria since it forked, therefore your point is wrong

Spoice, [18.10.20 02:12]
https://www.metzdowd.com/pipermail/cryptography/2009-January/014994.html

Spoice, [18.10.20 02:12]
The announcement of the white paper included the 21 million limit, close enough

Jingles, [18.10.20 02:12]
HIs announcement isn't the WP

Spoice, [18.10.20 02:12]
show me where Satoshi said that Amaury shoudl tax the chain?

Spoice, [18.10.20 02:12]
Doesn't matter- close enough

Jingles, [18.10.20 02:12]
Bitcoin is the set of rules defined in the whitepaper first and foremost - You

Jingles, [18.10.20 02:13]
My ears pricked up on that comment, so I'm asking you what you meant.

Spoice, [18.10.20 02:13]
Correct. Changing the 21 million hard limit is still more Bitcoin than taxing the Coinbase, yet both will never ever happen. Not to Bitcoin anyway

Jingles, [18.10.20 02:13]
If you meant Satoj's writings pre and post WP then you should be clear about it

Spoice, [18.10.20 02:13]
some bastardized chain might, just not Bitcoin

Jingles, [18.10.20 02:14]
The closest we have to anything to indicate what is "Bitcoiness" is general things like "the longest chain"

Spoice, [18.10.20 02:14]
No, it is never a single thing

David B., [18.10.20 02:15]
REEEE

Jingles, [18.10.20 02:15]
trustless, no single trusted third parties, and rules can change due to incentives via consensus

Spoice, [18.10.20 02:15]
it is a set of common sense and experiment driven and historical relevance and initial parameters and "peer to peer electronic cash" definition indicators

Spoice, [18.10.20 02:15]
never a single thing

Jingles, [18.10.20 02:16]
[In reply to Spoice]
This is like the exact opposite of what you said earlier

Jingles, [18.10.20 02:16]
Bitcoin is defined by the rules in the WP, I mean common sense.

Jingles, [18.10.20 02:16]
🤷‍♂️

Spoice, [18.10.20 02:16]
Nope, the rule set is defined in the white paper should never change, but I never said all rules are defined in the white paper

Jingles, [18.10.20 02:16]
What rules?

Spoice, [18.10.20 02:16]
It is a union

Jingles, [18.10.20 02:17]
What rules are there?

Spoice, [18.10.20 02:17]
Rules in the white paper + what continued to define Bitcoin thereafter

J Stodd, [18.10.20 02:17]
[In reply to Spoice]
> "Bitcoin is Bitcoin is a false statement."
Alas, if we cannot agree on the law of identity, aka A=A, then i dont understand how to hold a conversation with you using logic.
> BTC is an instance of Bitcoin
No, BTC is a ticker used optionally by exchanges. Other common tickers for bitcoin include XBC, XBT, BC (correct me if im wrong on any of these)
> "Bitcoin is a set of rules in the whitepaper"
Super hard to defend this. Theres no mention of a 21M supply cap, no blocksize limit *at all*, and it also says additional rules and incentives can be enforced (implying maybe they should).

Jingles, [18.10.20 02:17]
I go through this with BSVers all the time. We have no spec sheet of rules defining what Bitcoin is from Satoshi.

Spoice, [18.10.20 02:18]
Rules such as what defines a correct block, miners receiving the full incentive of mining it, etc

Jingles, [18.10.20 02:18]
The WP is a highlevel document

Spoice, [18.10.20 02:18]
The WP is a description of a scientific experiment

Spoice, [18.10.20 02:18]
if you want to start your own experiment, be my guest

Jingles, [18.10.20 02:18]
[In reply to Spoice]
Valid tx rules aren't defined in the WP

Spoice, [18.10.20 02:18]
just don't try to call it Bitcoin

Jingles, [18.10.20 02:19]
The word majority is in the WP an awful lot wouldn't you say?

Spoice, [18.10.20 02:19]
Not valid TX rules, but what a proof of work block is and how it diverts the reward to the miner, etc

Jingles, [18.10.20 02:20]
[In reply to Spoice]
and? what about BTC doesn't apply?

Jingles, [18.10.20 02:20]
I'm not arguing for any fork of BCH here.

Spoice, [18.10.20 02:20]
It no longer meets the very title of the white paper experiment, "Peer to peer electronic cash"

Spoice, [18.10.20 02:20]
The BTC instance of the experiment is destined to move away from the very title of the white paper

Jingles, [18.10.20 02:20]
It's electronic, and I use it like cash.

Spoice, [18.10.20 02:20]
that the maintainers even wanted to edit the white paper (Cobra and co) because of this fact

J Stodd, [18.10.20 02:20]
u/Spoice When did BTC stop being Bitcoin in your view? The day Amaury decided to launch the fork, before Segwit happened?
If someone else launched a fork first, they would have been "the real bitcoin"?
This is a game of whoever forks first becomes the real Bitcoin?
What if two people launched a fork at the exact same time, maybe even with identical specs?

Jingles, [18.10.20 02:21]
Where did I go wrong?

Jingles, [18.10.20 02:21]
[In reply to Spoice]
Did they?

Spoice, [18.10.20 02:21]
Doesn't matter if you use it today, its very technical fabric will have to move your transactions to 2nd layers and it will no longer be peer to peer electronic cash on chain

Jingles, [18.10.20 02:21]
peer to peer electronic cash on chain - Not in the wp

Jingles, [18.10.20 02:22]
We have satoj talking about HFT with sidechannels.

Jingles, [18.10.20 02:22]
So what?

Jingles, [18.10.20 02:23]
I think this is a good discussion Phil, nothing disrespectful is being said. I hope this is ok?

Spoice, [18.10.20 02:23]
Doesn't matter, the rule of common sense, which is closer to that title? Increasing a simple variable (Blocksize) to stay on track of the title and experiment, or introduce IOUs and Watchtowers and channels and locked BTC and that whole LN Bastardization? Which is close to the title?

Jingles, [18.10.20 02:23]
No one said that can't happen

Michael Nunzio, [18.10.20 02:24]
[In reply to Spoice]
Congratulations you've made an argument which isn't an argument.

Jingles, [18.10.20 02:25]
The whole thing that was said was the system is based on majority rules, and incentives can be changed. Majority breaks any deadlock.

David B., [18.10.20 02:25]
How to kill a coin 101

Spoice, [18.10.20 02:25]
Logic fails anyone who tries to claim BTC, ABC, BSV or any similar standalone experiments as Bitcoin, because of simple sanity checks and logic checks, often stemming out of common sense - If what you have moves you a single step away from what is otherwise the same old experiment which Satoshi wrote about and unleashed, you're not Bitcoin. If what you have moves you a step closer, it is Bitcoin. and so on and so forth.

Phlip - Not giving away coins, [18.10.20 02:25]
Wow, really fanatical almost religious statements. I guess its Sunday morning.

Jingles, [18.10.20 02:27]
[In reply to Spoice]
There's nothing common about common sense. You point to the WP to make a point, and your point isn't in there.

Spoice, [18.10.20 02:27]
Throttled and you need off-chain IOUs and always-on services to function (BTC) ? Not Bitcoin. Requires permission to be used and could be centrally confiscated on the whim of the organization behind it (BSV)? Not Bitcoin. Premined (Bitcoin Gold, Diamond)? Not Bitcoin. Taxing the miners through Coinbase and changing the incentives which were at play since day 0 (ABC)? Not Bitcoin

Spoice, [18.10.20 02:27]
simple checks really, yet those who are set to benefit will of course be oblivious to these

Phlip - Not giving away coins, [18.10.20 02:28]
This whole “Bitcoin Cash is the true Bitcoin - see whitepaper” is really stupid. It also ignores the history of how Bitcoin Cash came into existence

Jingles, [18.10.20 02:28]
Phillip, remove anyone here that has said Bitcoin Gold was the original Bitcoin immediately

Jingles, [18.10.20 02:28]
^^^^

Jingles, [18.10.20 02:29]
[In reply to Phlip - Not giving away coins]
It falls to pieces the moment it's questioned.

Spoice, [18.10.20 02:29]
It is not about "True" Bitcoin

Spoice, [18.10.20 02:30]
It is about the Bitcoin closest to the experiment which always was

Spoice, [18.10.20 02:30]
I don't care about "True" or not, they all are true

Phlip - Not giving away coins, [18.10.20 02:30]
[In reply to Jingles]
Sorry, I hve stopped reading all the sillyness above. Will reread later

Jingles, [18.10.20 02:30]
[In reply to Phlip - Not giving away coins]
I'm joking around 😂

Spoice, [18.10.20 02:30]
but the rule of entropy says I shouldn't place my money nor effort in experiments which are set to fade eventually, because they have skewed incentives

Phlip - Not giving away coins, [18.10.20 02:31]
[In reply to Spoice]
You get to chose that for yourself but you do not get to dictate it for others

David B., [18.10.20 02:31]
[In reply to Phlip - Not giving away coins]
Don't read it. You will have no braincells left

Spoice, [18.10.20 02:31]
Bitcoin as we know it has a long track record of incentives which work

Spoice, [18.10.20 02:31]
I won't ever dictate it for others

Spoice, [18.10.20 02:31]
I only would dictate it for myself, just like how I never use BTC or BSV today, I won't use ABC tomorrow

Spoice, [18.10.20 02:32]
only because they're new experiments

Spoice, [18.10.20 02:32]
interesting, and I wish them luck

Jingles, [18.10.20 02:32]
"Bitcoin is Bitcoin" is a false statement - Spoice 2020

Spoice, [18.10.20 02:32]
but I would rather stick to the Bitcoin I know

Spoice, [18.10.20 02:32]
that's all

Jingles, [18.10.20 02:32]
I won't ever dictate it for others - Also Spoice
Phlip - Not giving away coins, [18.10.20 02:32]
Bitcoin Cash came with a plan snd goals. They were clearly presented in two presentations that happened before viabtc announced they would mine with ABC software and create a coin and chain named Bitcoin Cash

Spoice, [18.10.20 02:32]
Yes, because he means BTC is Bitcoin, and that's a false statement

Jingles, [18.10.20 02:32]
How is it false?

Spoice, [18.10.20 02:32]
It is an instance of Bitcoin

Jc Crown [ I DON'T DM PEOPLE - DON'T GIVE ME MONEY! ], [18.10.20 02:33]
[In reply to Michael Nunzio]
you're looking intimidatingly handsome in your new profile picture

Phlip - Not giving away coins, [18.10.20 02:33]
[In reply to Jc Crown [ I DON'T DM PEOPLE - DON'T GIVE ME MONEY! ]]
Lol

Jc Crown [ I DON'T DM PEOPLE - DON'T GIVE ME MONEY! ], [18.10.20 02:33]
[In reply to J Stodd]
actually a good question

Spoice, [18.10.20 02:34]
Anyway, those are my two cents

Spoice, [18.10.20 02:34]
Everyone is free to choose which experiments to pour their effort on and their money in

Phlip - Not giving away coins, [18.10.20 02:34]
[In reply to Spoice]
You are entitled to your opinion.

Spoice, [18.10.20 02:34]
Andreas is publishing Lightning Network books, I mean

Spoice, [18.10.20 02:34]
So to each his own

Phlip - Not giving away coins, [18.10.20 02:35]
[In reply to Spoice]
Lets leave it at that

Spoice, [18.10.20 02:35]
but Bitcoin as I know it continues with no Tax, and that in my opinion is BCH with no tax

Phlip - Not giving away coins, [18.10.20 02:35]
Ah you had to continue

Phlip - Not giving away coins, [18.10.20 02:36]
Good thing no tax is proposed by anyone
Spoice, [18.10.20 02:35]
Isn't this the Bitcoin Cash telegram?

Jc Crown [ I DON'T DM PEOPLE - DON'T GIVE ME MONEY! ], [18.10.20 02:35]
😅

Spoice, [18.10.20 02:36]
If I don't discuss Bitcoin Cash here, where should I?

Spoice, [18.10.20 02:36]
Tax, IFP, call it what you will

Spoice, [18.10.20 02:36]
from my perspective as a user, it's one the same

J Stodd, [18.10.20 02:36]
[In reply to Jc Crown [ I DON'T DM PEOPLE - DON'T GIVE ME MONEY! ]]
I bet nobody will answer it, either

Phlip - Not giving away coins, [18.10.20 02:37]
[In reply to Spoice]
Apparently btc /s

David B., [18.10.20 02:37]
[In reply to Spoice]
As a user what do you care?

Jingles, [18.10.20 02:37]
Ooh, can I shill the Bitcoin room in here?

Spoice, [18.10.20 02:37]
Nah, I prefer quick responses and chats

Spoice, [18.10.20 02:37]
Reddit is broken

Phlip - Not giving away coins, [18.10.20 02:37]
[In reply to Jingles]
Lol

J Stodd, [18.10.20 02:37]
[In reply to Spoice]
Nobody even pays it, it just comes out of the block reward. The block reward is not sentient, it cannot be stolen from or wronged

Phlip - Not giving away coins, [18.10.20 02:37]
Dont push your luck 😉

Jingles, [18.10.20 02:37]
[ 😀 Sticker ]

Michael Nunzio, [18.10.20 02:38]
[In reply to Jc Crown [ I DON'T DM PEOPLE - DON'T GIVE ME MONEY! ]]
You too brother. 🙏

Jc Crown [ I DON'T DM PEOPLE - DON'T GIVE ME MONEY! ], [18.10.20 02:38]
[In reply to Michael Nunzio]
but mine is the same....i need new ones everyone always calls me fat because of this one

Jc Crown [ I DON'T DM PEOPLE - DON'T GIVE ME MONEY! ], [18.10.20 02:38]
literally if i say 1 thing to any troll anywhere first thing they say is "ok fatass"

Jc Crown [ I DON'T DM PEOPLE - DON'T GIVE ME MONEY! ], [18.10.20 02:38]
i blame this dumb photographer

Michael Nunzio, [18.10.20 02:38]
[In reply to Jc Crown [ I DON'T DM PEOPLE - DON'T GIVE ME MONEY! ]]
Don't listen.

Phlip - Not giving away coins, [18.10.20 02:39]
u/spoice maybe write a read.cash article if you really feel you need to educate people

Spoice, [18.10.20 02:39]
David, as a user I believe that each new experiment carries risk with it, why should I take part in a new fork of Bitcoin which has a new set of game-theory rules which doesn't even benefit me, rather it benefits some other entity which will take 5% of any effort or economic activity I produce on this chain? They're also off-loading the risk to me as a usebuildebusiness who choose to join their experiment.

Spoice, [18.10.20 02:40]
Why should I take that risk while the Bitcoin I know and have known for over 10 years worked perfectly for me thus far? (BCH, that is)

Jingles, [18.10.20 02:40]
small fees and empty blocks?

Jc Crown [ I DON'T DM PEOPLE - DON'T GIVE ME MONEY! ], [18.10.20 02:41]
It will insure that a centralized group has control over development and they are by decree in the code, it's a literal take over.

Phlip - Not giving away coins, [18.10.20 02:41]
[In reply to Spoice]
“BSV-freeze the protocol - true Bitcoin” sounds like more your thing

David B., [18.10.20 02:41]
[In reply to Spoice]
Better run bitcoin core 0.1

Jc Crown [ I DON'T DM PEOPLE - DON'T GIVE ME MONEY! ], [18.10.20 02:41]
Imagine if satoshi keyd his address in the code to be paid out of every block, but instead of paying himself started a company "Bitcoin Dev Co"

Spoice, [18.10.20 02:42]
Not really, BSV kills the incentives I am discussing too

Phlip - Not giving away coins, [18.10.20 02:42]
[In reply to Jingles]
Please stay nice now

Jc Crown [ I DON'T DM PEOPLE - DON'T GIVE ME MONEY! ], [18.10.20 02:42]
No one would ever be able to say Bitcoin was Decentralized, Bitcoin Dev Co would get paid directly from the reward.

Jingles, [18.10.20 02:42]
[In reply to Phlip - Not giving away coins]
"BSV: We have all the Bad Idea. On chain"

Spoice, [18.10.20 02:42]
The Nash equilibrium we have tested for the past 10 years will be changed with ABC, it changed with BTC and BSV too

Jc Crown [ I DON'T DM PEOPLE - DON'T GIVE ME MONEY! ], [18.10.20 02:42]
"Bad Solutions Verified"

Spoice, [18.10.20 02:42]
that game-theory set of incentives

Spoice, [18.10.20 02:43]
why would I want to take a risk with any of those experiments when I gain 0?

David B., [18.10.20 02:43]
Better run bitcoin core 0.1

Spoice, [18.10.20 02:43]
Nope, you're talking technical freezing of development, that's not what I am addressing

Jingles, [18.10.20 02:43]
[In reply to David B.]
Thats the BTC chain though

Phlip - Not giving away coins, [18.10.20 02:43]
[In reply to Spoice]
O please share with us your background in the subject. Or are you now just parroting others

Spoice, [18.10.20 02:44]
BSV wants to freeze the technical development and they want a stable protocol from an API/development perspective

Spoice, [18.10.20 02:44]
but from an incentive ruleset perspective, they already butchered the equilibrium Bitcoin had

Jc Crown [ I DON'T DM PEOPLE - DON'T GIVE ME MONEY! ], [18.10.20 02:44]
[In reply to Phlip - Not giving away coins]
That's one of those phrases, when you hear it you know they are just a parrot of someones propaganda. "MUH NASH EQUILIBRIUM!"

David B., [18.10.20 02:44]
Stable = bad?

Jingles, [18.10.20 02:45]
[In reply to Jc Crown [ I DON'T DM PEOPLE - DON'T GIVE ME MONEY! ]]
I love you

Spoice, [18.10.20 02:45]
Philip, for an admin you are ought to be nicer, if you think I am parroting others you're free to think that, but to state it so bluntly in your position is just... wrong

Spoice, [18.10.20 02:46]
If you think the point I made is wrong, discuss it

Phlip - Not giving away coins, [18.10.20 02:46]
[In reply to Jingles]
Maybe talk to him in DM about that?😉

Spoice, [18.10.20 02:46]
not me

Jingles, [18.10.20 02:46]
[In reply to Phlip - Not giving away coins]
working on it.

Phlip - Not giving away coins, [18.10.20 02:46]
[In reply to Spoice]
I ought to be nicer...😂😂😂

Spoice, [18.10.20 02:47]
Also, anyone who studied Bitcoin at length and its set of incentives and game-theory ruleset should know what a Nash Equilibrium is and who the players are in the Bitcoin game

Phlip - Not giving away coins, [18.10.20 02:47]
[In reply to Spoice]
You state as fact. You get to dhow why your statements or opinions are even relevant.

Spoice, [18.10.20 02:48]
If it's not a fact, highlight how

Spoice, [18.10.20 02:48]
don't attack me

Spoice, [18.10.20 02:48]
prove me wrong

Spoice, [18.10.20 02:48]
if you fail that simple debate test

David B., [18.10.20 02:48]
How's that breakfast helping?

Spoice, [18.10.20 02:48]
you should rename from Janitor to Tyrant

Jingles, [18.10.20 02:48]
I'm still waiting to see the defined rules as per the wp

Michael Nunzio, [18.10.20 02:49]
[In reply to Spoice]
Didn't know this was stand up comedy night in here.

Michael Nunzio, [18.10.20 02:49]
I missed the memo

Phlip - Not giving away coins, [18.10.20 02:49]
If I have to prove all idiots on the internet wrong I would have a hard time. You are starting to really waste everybody’s time. You state, you prove. Or you are just generating noise

Phlip - Not giving away coins, [18.10.20 02:50]
[In reply to Spoice]
Be careful now.

Michael Nunzio, [18.10.20 02:50]
Noisy bugger.

Phlip - Not giving away coins, [18.10.20 02:52]
Getting close to just do some cleaning up.

Spoice, [18.10.20 02:52]
If you can't debate technical points I am making about Bitcoin Cash on a Bitcoin Cash Telegram, and within the span of 10 minutes you called me stupid, idiot, noisy and a parrot, you absolutely are a tyrant and I stand by my point: You should not be an admin here, nor anywhere actually. If you think I should be careful for the fear of you banning me, go ahead. You still fail to debate the simplest technical point and yet claim you can "but can't be bothered to". You remind me of that Thermos guy.

Spoice, [18.10.20 02:53]
How do people with 0 technical know how end up in these admin positions is beyond me

Jingles, [18.10.20 02:53]
I challenged your comments and you just changed the goal posts.

Phlip - Not giving away coins, [18.10.20 02:53]
[In reply to Spoice]
Ok. You are not paying me and you are free to create noise elsewhere
submitted by wisequote to btc [link] [comments]

New Siberian Bitcoin mining center set to provide 100 jobs to locals

This post was originally published on this siteThis post was originally published on this site The governor of the Republic of Buryatia, Russia signed a decree allowing for the construction of a 13.6 acre data center in Southeastern Siberia. The facility will become home to a number of hi-tech activities, including a Bitcoin (BTC) mining operation. The facility will be built by BitRiver […]
submitted by FuzzyOneAdmin to fuzzyone [link] [comments]

New Siberian Bitcoin mining center set to provide 100 jobs to locals.

New Siberian Bitcoin mining center set to provide 100 jobs to locals.


13.6 acres of cold and barren land in Siberia will be put to good use with the support of international investors.

The governor of the Republic of Buryatia, Russia signed a decree allowing for the construction of a 13.6 acre data center in Southeastern Siberia. The facility will become home to a number of hi-tech activities, including a Bitcoin (BTC) mining operation.

The facility will be built by BitRiver and is expected to create up to 100 local jobs. It will be equipped with the latest generation of ASIC miners and will take about a year to complete. In addition to cryptocurrency mining, the facility will be used for Big Data and the Internet of Things. The required investment is estimated at 691 million rubles or $0.9 million, to be provided by investors from the U.S.A., China, and Japan.

Siberia is one of the more attractive places in the world for Bitcoin mining. Its abundance of natural resources translates into low electricity prices, and its cold climate means that the miners do not have to spend as much energy on cooling. Is proximity to China, the main producer of mining equipment, should also make the outfit's supply chain more efficient.

It is possible that these advantages will be negated by the legal uncertainty surrounding the regulation of crypto mining in the region, however.

https://preview.redd.it/g95t000mwrv51.jpg?width=450&format=pjpg&auto=webp&s=586ed4c4980f64037ffd89373bb070604ec5f4b8
submitted by dibarto1973 to u/dibarto1973 [link] [comments]

Peter Schiff, December 2017: "If you can get a cryptocurrency backed by Gold instead of a fiat cryptocurrency then it can work."

First:
Peter believes the definition of fiat is "let it be" as in let something that has no value be money.
The real definition of fiat is "let it be" as in let something that has no value be forced upon a populous as money by authoritative decree.
Bitcoin has no authority therefore has no one forcing its use onto others. It also has global free market price discovery whereby the global free market determines the value of bitcoin. In both of these interpretations of the definition of fiat bitcoin is NOT fiat.
Second:
Backing something with a scarce asset like gold is only required when the object you are backing is not scarce in and of itself. The whole point of bitcoin is that it is the first usable form of true provable digital scarcity.
Backing a digital token with a physically stored asset defeats the purpose of backing it because that centralised physical good can be co-opted, co-erced, corrupted and confiscated at will.
The purest innovation of bitcoin is that it created digital scarcity without physical backing. If physical backing of a digital token was sufficient to create a usable global payments platform and currency then GoldMoney and E-Gold would still legitimately function, but they do not for this exact reason.
Finally:
All copies of bitcoin, imitations of bitcoin, and forks of bitcoin do not inflate its supply or dilute its scarcity. Anyone can copy the code but you cannot imitate or fake the security of the network (which is derived from the real computational power directed towards mining) or the network effect of the bitcoin blockchain (as all other forms of crypto tokens, even bitcoin forks, are not recognised as legitimate functional or accepted on the bitcoin blockchain).
So in conclusion this information hopefully opens up the discussion to how Peter Schiff is overlooking fundamental truths that prevent him from seeing the potential of bitcoin.
submitted by slvbtc to Bitcoin [link] [comments]

FULL CIRCLE


In the begging there was gold and silver as currency.
Home robbery was common, lotta people got their fingernails pulled out for gold.
Therefore banks.
Banks issued IUOs.
Home robbery was common, lotta people got their fingernails pulled out for IOUs.
Therefore trust with banks, KYC and ID etc. only issue small amounts of IOU not worth fingernail pulling.
People just started using the IOUs as trade.
There was demand for credit as always, banks gave credit.
Banks recognised no one ever really actually withdrew the gold.
Banks recognised no one had any idea how much gold was really in the vault if any.
Fractional reserve was invented with a modest ratio to limit risk.
Governments took control of the banking industry as it was corrupt and assumed the right the make up the IOUs (far more more liberal with the risk).
Fast forward to today.
The world begins to enter the phase of hyper bitcoinisation.
Home robbery was common, lotta people got their fingernails pulled out for bitcoin.
Therefore banks (storage of private keys).
Banks issued IUOs.
KYC and ID etc. had already reached an advanced level of evolution because computers.
People just started using the IOUs as trade.
There was demand for credit as always, banks gave credit.
Banks recognised no one ever really actually withdrew the bitcoin.
Everyone recognised how much bitcoin was really in the vault because computers.
Fractional reserve was already an excepted thing.
Governments previously had control of the banking industry but government became corrupt and gave the right the make up the IOUs to the banks.
We are now full circle.
In a very short period of time this created a neuvo rich and was deemed to be widely unfair akin to a massive pre-mine given the few early adopters and the resultant given financial disparity.
Bitcoin was banned and given a narrow trade-in window at massively reduced rates.
The global economy is so fucked the need for universal basic income is widely accepted ,global finance is in despair, food lines are endless worldwide, the fiat system has completely collapsed.
The bank of international settlements creates a global crypto currency, fully pre-mined and distributed to everyone on earth equally.
Each country creates their own second layer national crypto currency pegged to the base layer with fractional reserve parameter sovereignty.
The majority of world governments issue decrees to their population the right of seizure of the base currency.
Governments begin to enact haircuts to facility global trade.
The vast majority of the worlds population at any given point in time never really understood the details of what has changed, most of them do not recognise any difference.
Their crypto enabled multisig RFID tag wallets open locked doors (most of the time).
submitted by yeknoMtihS to Bitcoin [link] [comments]

Decred price, price and price.

The only thing that actually matter in cryptocurrency in all of the cryptocurrencies that includes Bitcoin and Decred is price, price and price and for the last time price, don’t fool yourself thinking that technology matter because it doesn’t, at least not at the moment. As at the moment all cryptos if they don’t make you money either in satoshis or actual dollars than you abandon that project, Bitcoin has all that attention because of the price and it will get more attention once the price goes beyond the all-time high of 2017.
Now in the case of Decred, this coin doesn’t have a halving so the minting of new coins gradually comes down, as right now that level is at 9.5% yearly for staking by 2024 the minting of coins will come even lower but at the moment you can expect about 10 coins or more for block, meaning that demand can be met so that price will continue to go down. But if you are a holder and staker in Decred than you are pretty much fuck at current prices, because the minting and the fact that only about 50% of all coins are being stake that means that half the coins are for sell or trade.
For holders of Decree they will need to wait some more years for the supply to reach minting levels of Bitcoins meaning that there will be pressure to sell. The people who are selling right now are miners and investor that go for a short profit, whole long time believers are stuck with coins that are less value with every sell there is in exchanges, but we decided to take that risk.
Now my message is intended for those that hold at least the price of one ticket why because they are the ones that are actually holding, why only people who at least hold 1 ticket and not 1 coin, well to have one ticket you need to either have $3000 or about 150 coins, so you have the capital and the intention to see this through.
As we all know ascis miner are being sold and bought in the market the people that buy miners for decred can point their miners to other coins that may be more profitable at a certain time, so in this case miners and stakers that stay in the project or are thinking to stay are my main audience here.
If you already bought a miner and believed in the project you need to stake your coins and pay the electricity out of pocket instead of selling your coins in the market and bring in the price down with your electricity cost. If you are only staking you need to buy at least one miner and take the cost of electricity upon yourself for that miner otherwise the price will continue to come down. So, if you are staking one ticket that means you have at least some money, you could buy a miner put it to work pay for the electricity and don’t sell your coins because of electricity, that way is the only way for the price to increase
You will also gain something else in return those coins that you are mining won’t be listed on any exchange, it is true mining is not profitable but you will get your coins free of any trail from the exchanges, the electricity cost will be your cost for having privacy clean coins.
Now you don’t need to go crazy about buying miners just buy one put it in your house mine decred, one miner no one may noticed it or know that you are mining or maybe they do but they won’t know your address.
Remember that decred doesn’t have a halving so the only way to have price pumps is in news and in users actually locking up their coins, until the supply is less the price will continue to drop if the community together doesn’t do anything and leaves things as they are price will come even lower.
Once privacy options are added your coins will be free from stains and once privacy comes online you will be golden only you will know from where you got them. Mining will help you with that.
Now in term of price as long as Bitcoin continues to go up the price of Decred may go up in dollar terms it may decline in satoshis value because of the bitcoin dominance, so at this point the only price that actually matter than is bitcoin price, because the dollar price will go up together with bitcoin, so the only one that we need to take care is the bitcoin side of things by selling less and staking more, and by mining so that big miners who are actually selling to pay their bills can be taken out of the equation.
The is the only solution to price declining to mine and to stake more, if the same people that are staking right now decided to mine and stake at the same time than the price may go up just a little bit because there it will be less people selling. But know for it to work you will need to foot the electricity bill as well. Staking doesn’t take that much money but look others are devaluing your investment so you need to go balls deep as a whole in your investment meaning those that are staking right now need to mine also at least with one miner for user.
So about $3500 for staking and about another $3000 for the miner and maybe about $1000 for electricity cost, that would mean each believer of decred will need to foot a bill of $7500.00, how possible is this for the whole community to do is everybody else’s guess, but that is what it will take for the price to actually go up and for miners to stop selling your investment.
Or wait for good news, but if prices fall for too long or too far down than price may never recover. Don’t let your greed take fully control of the community.
submitted by francis105d1 to decred [link] [comments]

Bitcoin Cash House seeks sponsorship for the work of the year 2020

Bitcoin Cash House seeks sponsorship for the work of the year 2020
We are organizing an important agenda in the city of Barquisimeto Venezuela, but also some important trips to expand our margin of action, we want to travel to 2 other cities of Venezuela where they are asking us for advice on all companies that want to enter the world, they want to do it with protocols of corporate documents and office management

https://preview.redd.it/izi978pjleb41.jpg?width=1040&format=pjpg&auto=webp&s=8553096b727019221cb3bf26733633cfddeb300e
As you read this publication you will realize what we will do with companies and businesses with a solid argument to accelerate the adoption of Bitcoin Cash
The conditions of Venezuela are different from the conditions of other countries.
After having done a survey in several shopping centers in the city, we noticed a very curious fact, and you surely heard that things are getting better in Venezuela; Well, if they are commercially improving the fact that the government decreed free convertibility of currencies facilitates the import and export processes for production in the country, also having greater freedom to send and bring merchandise door to door without going through customs increases the Production capacity of consumer items in Venezuela. This caused many businesses to start selling any product in the currency or currency they wanted.

https://preview.redd.it/jqrbb0crleb41.png?width=1000&format=png&auto=webp&s=02def59cd4c944b3ead4ae96ad1d7099fe34c58e
But perhaps the companies in Venezuela achieved the success or uprising they have thanks to the free conversion of $ to Bolivares? Well, not quite, remember that in Venezuela most of the dollars and euros are held by the government and the central bank of Venezuela, and citizens and businesses have minimal access to those dollars in auctions, so how did they achieve the lebantation? For the most part they achieved great profits with digital mining and obviously remittances from Venezuelans that managed to bring no less than $ 3,000 after working for 3 or 4 years outside the country.
Digital mining and remittances, but not adoption.
In fact, those businesses that adopt BTC or BCH or Dash in Venezuela do so because they do not undermine and because they are experiencing this new way of obtaining foreign exchange.
The fear of publishing the adoption of cryptocurrencies.
Of course before the petro, we who worked with cryptocurrencies did it clandestinely, with fear, and under the shadows of the persecution of the police or government military, we saw news where they extorted and imprisoned people for having mining machines, There were also very clandestine farms throughout the country and many hid well while others simply abandoned because they had already made profits

https://preview.redd.it/s4jiggt5meb41.png?width=478&format=png&auto=webp&s=2bce985509c8ec94f10ce1f7f27d9df1b2e5c71d
And after having obtained thousands of dollars with digital mining, you opened a business to "legalize" the money you had, and as the main need of Venezuelans was the food you decided to open a food store, and as in Venezuela you only need 5,000 $ to open a business and earnings return in 3 months you would see profitable to open not one but two or three in several cities.

https://preview.redd.it/a5ybv17imeb41.png?width=1280&format=png&auto=webp&s=a99e9a77caf51f1b0425a1a4e725d70a7c2e00b4
But if you had this digital mining business would you accept cryptocurrencies as a form of payment? And even worse would you publish it on your social networks? on your website?
Maduro invented cryptocurrencies
You don't do cryptocurrency adoption because after the petro launched by mature, people in Venezuela immediately demonized cryptocurrencies, and that was a very big leap in use and security for us who worked with crypto before petro but a blow to education and adoption of these throughout the country
But why was the petro a problem? well I even got to hear people who said that mature had invented cryptocurrencies. In a bitcoin cash fund meetups, one lady assured me that the Venezuelan government had invented the history of Satoshi Nakamoto to manipulate Venezuelans, and so I realized that I would have a very difficult job in Venezuela because unfortunately there is a lot of political distortion in the economy of ordinary Venezuelans
So if someone knows the business but people in the street are afraid of bitcoin then they do not adopt, and prefer to accept cryptocurrencies in a clandestine or private way, as most shops do, in my own city I know many businesses but They don't want to make it public, my task was a physical place to attract those business owners to learn what is the advantage of worldwide coverage of business adoption, because the fact that your store accepts bitcoin cash as a way Payment gives you the opportunity, for example, to accept payments in remittances for thousands of dollars from anywhere in the world.
Bitcoin Cash House appears to serve curious citizens and educate companies that want to use them
Nowadays when several stores do accept publicly on the street and thousands of them were forced by the government to accept the Petro cryptocurrency then some have had to learn in a forced way about the use and adoption of it, and unfortunately the government keeps under secret part of the rest of the operation of your cryptocurrency for political and security reasons.
Bitcoin Cash House wants to offer through its website and social networks accompanied by the large worldwide community advertising of businesses that accept bitcoin cash in their businesses, we also offer technical and legal advice on the protocols of administrative documents within their Companies to keep the records clear and orderly, because it is not only to open the Bitcoin.com wallet and already, in Venezuela everything is different, the constant supervision of government institutions makes businesses handle all sales carefully, so you have to offer constant advice, publicity and training, even for company workers.

https://preview.redd.it/sb6v8iz1neb41.jpg?width=542&format=pjpg&auto=webp&s=f2bd52020a20bf639aa38e58ddb21e0f449e4b4a
We have the idea of creating Cryptoactive Administration Offices in companies.
This would be an office attached or dependent on the Administration department that all the companies in the country have, and it can be done, completely legal and without many tratimes all they need is to have some cryptocurrency expert to manage the administration and operation of the cryptocurrencies .
With this, companies and businesses will have administrative and legal soundness when the government institutions ask them what they do with cryptocurrencies.
But to do this work we must do meetings with executives, educational business workshops, meetups with citizens and then attend to each one privately in the spaces of Bitcoin Cash House in the most splendid and luxurious Business Center of the City of Barquisimeto, and this is expensive to support with our daily work, the work we do is an ant but business meetings are taking place while the power goes out, while we walk and while there is the problem of gas shortages

https://preview.redd.it/552q9kehneb41.jpg?width=816&format=pjpg&auto=webp&s=9ec050dd0fd1fa3efa31fdf03f5210d529c8d07a
You can help us directly from this web page or if you want to agree on a plan with us you can write to the mail or enter the web page of the infographic
We thank all those who have supported the Bitcoin Cash House initiative in other parts of the world, as we grow we can also support those who want to activate a BCHouse in any country in the world.
submitted by abgrobert5 to btc [link] [comments]

Bitcoin Halving: a Harbinger of a Bull Market or Coincidence?

Bitcoin Halving: a Harbinger of a Bull Market or Coincidence?
In this article, we will talk in detail about the Bitcoin halving, find out what it is, analyze how this event affected the market previously, study the theories of top traders and try to understand what to expect in the future. So, first things first.
https://preview.redd.it/58uagqpscqq31.jpg?width=640&format=pjpg&auto=webp&s=ae0b5759cf7916fb3492685a78ca1d19d0a66a17

Inflation?

The mysterious Bitcoin creator Satoshi Nakamoto was a real genius, as he came up with a rather smart solution to maybe the most important problem of any currency - inflation. The current Bitcoin rate inflation is 4% per year, while the US dollar 1,91%, the Indian rupee 5,24%, the Russian ruble 4,33%, etc. However, Bitcoin inflation will continue to decrease until it reaches 0% in 2140.
To begin with, the Bitcoins issue is limited, in total, 21 million coins will be issued. As you know, Bitcoins are not issued by any single centralized authority - they are mined. And by analogy with precious metals, the mining complexity will constantly increase, while the reward for the work done will decrease. The whole thing is the correct implementation of source code, as well as the so-called halving, which means that the miners get half as many coins every four years. Thus, by rough estimates, the last Bitcoin will be mined in May 2140.

What is halving and how does it work?

To explain what halving is, let's first understand how Bitcoin works. So, this digital coin is based on blockchain technology, which is a decentralized data accounting book, exact copies of which are located on miner computers around the world.
As you know, each book consists of pages, in our case these are blocks. Each block has its own unique serial number. Miners solve complex mathematical equations to form a new block and receive a reward in the form of coins for the work done. The size of this reward is halved every 210 thousand blocks. Considering that about 144 blocks are mined per day, this event occurs approximately once every four years. This is what is called halving. The short Bitcoin history includes two halvings:
  1. 11/28/2012 the reward for the found block was reduced from 50 to 25 BTC.
  2. 07/09/2016 the award halved again from 25 to 12.5 coins.
The next halving should happen on May 23, 2020, then the reward will again decrease by half and amount to 6.25 BTC.

A brief analysis of the first halving

On the day when the first decrease in the reward for the found block happened, the BTC rate showed a slight movement - the price increased by only 1.7%. But if you look at the big picture, you can see that the asset began to grow several months before this event, and just continued to move up after halving. Thus, the BTC rate increased from 13 to 260 US dollars in just four months.
https://preview.redd.it/89x4xdmvcqq31.png?width=934&format=png&auto=webp&s=af38bb2957a876c9f447b411db7a7e09d5ea21bc
This was followed by a rollback in price up to $80, but later a real bull race started and lasted until December 2013. At that time, the asset grew to unimaginable values, its rate reached the level of 1150 US dollars. Well, and of course, after such an increase, a tight correction of the price and a protracted bear market followed.
Pay attention to the complexity of the Bitcoin network during this event. The chart below shows, that the hash rate began to increase rapidly a few months before the halving, and the growth did not stop after it.
https://preview.redd.it/ljb35j7xcqq31.png?width=1335&format=png&auto=webp&s=f61f7a35294d500163e495370c8ece9fd27d68f5

A brief analysis of the second halving

The second halving occurred in less than four years - on July 9, 2016. This time, the reward for miners fell to 12.5 BTC. It is important to note that the time between the first and second halvings was 1316 days or 3.6 years. Moreover, if to analyze the data, you can see that the market started an upward movement about 9 months before the event. During this period, the BTC rate rose by 112%, and after the Bitcoin halving, it continued to grow till December 2017 and stopped at around $20,000 per coin.
We can also see how the hash rate increased against the background of the second halving. The chart below shows that the complexity of the Bitcoin network throughout the bear market in 2014-2015 was about the same value, but this figure began to grow rapidly about six months before the halving.
https://preview.redd.it/wylqu1wycqq31.png?width=1366&format=png&auto=webp&s=a84acd976f6ae945c390615797234e20473fecaf
Therefore, the miners' interest in Bitcoin has grown significantly a few months before the event. And just like the previous time, the hash rate of the network continued to grow after halving.

In the run-up to of the third halving

As we all remember, a rather encouraging 2018 followed the euphoria of 2017, and the rates of all coins fell down to 90% of their peak values. According to technical indicators and the general mood in the market, we can say that the bear flag lasted until April 2, 2019. On this day, the Bitcoin exchange rate rose from $4,100 to almost $5,000, then an upward movement began. Note that this happened 13 months before the upcoming halving.
Further, the BTC rate continued to grow rapidly and reached the level of $14,000 at the end of June, followed by a rollback and the price held at around $10,000 for a long time. But on September 24, 2019, there was a fairly powerful price drop, the rate fell by $1,500 in less than a day, and at the time of this writing, the market price of one BTC coin is $8,200.
Note that the resumption of BTC growth this year was again accompanied by a significant increase in the hash rate. The complexity of the network from April to September has more than doubled, and it continues to increase.
https://preview.redd.it/dnivyfm0dqq31.png?width=1366&format=png&auto=webp&s=29c3ecbce63bfed760c0c98af0e2db5948a456d3

How will halving 2020 affect the price?

Many market participants are wondering how will the third halving affect the market situation? Unfortunately, we can’t know the future, we can only analyze the current situation, compare it with historical data and draw certain conclusions.
In this article, we take the theories of two famous traders - Bob Lucas and Sunny Decree. They both analyzed in detail previous halving and made their forecasts regarding the market reaction to the next halving.

Sunny Decree Theory

He believes that the expectation of a halving will lead to Bitcoin price rise, as it was in previous times. He uses the BLX index to confirm this theory - this is the most complete history of the BTC price on the Internet, this is data actually from its very foundation.
The first cycle until November 2012 (before the first halving) is not so important for us since at that time Bitcoin was still a fairly new concept. Almost no one knew about its existence, and there were not many exchanges where it could be traded. However, we can use the second cycle as a projection for the third, in which we are now. The key role in the formation of new cycles is not in the reduction of inflation itself (that is, the Bitcoin halving), but trading activity in anticipation of it.
https://preview.redd.it/4kczz6a2dqq31.png?width=1306&format=png&auto=webp&s=f0734155c3af4755935bcb052572585a124128f6
Each of these cycles can be divided into several phases:
  • The first phase, which is not highlighted in color, is the bull market when the price forms a parabolic upward movement and market participants are in euphoria
  • The second phase is highlighted in red - it is a bear market that afflicts traders and most investors.
  • The third phase is highlighted in orange - it is an accumulation that begins after reaching the bottom.
  • The fourth phase is marked in yellow - this is a parabolic movement after accumulation, which occurred throughout all three cycles.
  • The fifth phase is highlighted in gray - this is the continuation of accumulation until halving and a new bull rally.
It to look attentively at the current cycle (that is, the third) we can see:
  • the first phase is a bullish trend up to $20,000.
  • the second phase is a drop to $3200.
  • the third phase is flat, which did not differ in increased volatility, at that moment the whales accumulated coins.
  • the fourth phase - a sharp increase, up to $14,000.
  • the fifth phase - a new correction to $8,200 and the continued accumulation of assets.
This theory tells us about the continuation of accumulation until the next halving in May 2020, which should be followed by a new bullish trend.
Now let's move on to the price forecast. The difference between the high of the first and second cycle is about 3600%, between the second and third - 1600-1700%. That is, each time the profit as a percentage goes down, so the third cycle was approximately half weaker than the second. As a result, according to Sunny Decree's theory, projecting the estimated percentage of growth proportionally, we can expect that the next BTC high will be at around $185,000. Using the structure of the third cycle, we can suggest that the peak of the bull market will happen in the summer of 2021.

Bob Lucas theory

Next, let's look at the theory of professional trader Bob Lucas. He analyzes the so-called cycles. In his opinion, the last four-year cycle (which contained 52 weeks in the drop and 153 weeks in growth) came to its end, it took 205 weeks in total.
Bob Lucas believes that the price we saw on December 10, 2018, was the end of this cycle. It is important to understand that the video in which he tells this theory in detail appeared on his channel on April 2, 2019 - on the very day when the market began to grow, so six months later we can notice that he was right in many ways, but not in everything.
So, Bob Lucas says in his video that at the beginning of a new cycle we will see the incredible power that will rapidly push the price to new levels. Lucas noted that at the time of recording the video, a lot of people are beginning to actively buy BTC in hope on rapid growth.
He believed that in April the market was not yet at the stage of the final bull race. He said that there will be growing up to plus or minus $6,000 in the near future, followed by a tough correction that will unsettle many weak investors. In his opinion, during this correction, the price may even update the December bottom, and only after that, a new cycle will begin, which will last about 150 weeks in growth. As for the final price, he does not have a specific figure, but he believes that the rate of the first cryptocurrency will be more than 100 thousand US dollars.
He stated that a hard correction should happen around August 2019, but in fact, it did not happen. Even though he made a mistake with the time frame and the estimated rate of BTC, he predicted the vector of the development of the situation quite correctly. Recent events are an excellent confirmation of this when on September 24, 2019, the BTC rate fell by $1,500 in less than a day. It was the correction Bob Lucas spoke about, but it happened a month later than he expected. Yes, it`s not likely that the rate falls to $3,000, but in current conditions, it is quite realistic to imagine a BTC rate of $6,000. Indeed, many analysts and experts agree that the “bloody Tuesday”, September 24th was not the final fall, it caused the next phase of accumulation of assets, which will take some time.

Neironix research department opinion

Let's drop someone else’s opinion and do what professional investors usually do - just take the facts we have and analyze them with a cold head.
  1. If to take a look at the BTC chart for its entire history, you can see certain patterns that have been repeated in a cyclic form several times.
  2. These cycles are conditionally divided by halvings, according to the principle of one halving - one parabolic growth.
  3. Even after shocking price kickbacks, the BTC rate never again fell to the values ​​that were before the start of the parabolic growth.
  4. Each subsequent halving increases the cost of mining BTC, which plays an important role in increasing the value of the coin.
  5. Bitcoin Halving 2020 is a very hype event, so in any case, this will affect the price.
Can we predict the future based on this? Of course, we cannot know for sure what surprises the cryptocurrency market is preparing for us. But no doubt that the cryptocurrency market, moreover Bitcoin, has great prospects. Bitcoin should be considered only as a long-term asset, which has always shown huge returns for a long period of time.
But it is important to understand that this article is not a guide to action since the digital coin market is quite unpredictable and it is a rather difficult task to foretell any outcome in advance. Do not invest in cryptocurrencies more than you can afford to lose. If you spend more money than you can effort, then you will not be able to think rationally and survive often storms in this young market. Treat your investments with a cold mind, and then you will succeed.

Conclusion

Bitcoin has already survived two halvings during its short history, and in less than nine months, we will see another decrease in the reward for miners. If you carefully study the charts, you can see that the BTC rate always grows before the halving. And after it, the market goes into a phase of parabolic growth, it lasts about a year, and then comes the correction and a protracted bear market.
A similar scenario has already been repeated twice and many traders believe that we will see a similar picture in the future, since the next halving should take place in May 2020. We observed a significant increase in the hash rate, the number of wallets, transactions and an increase in the rate of the main cryptocurrency 13 months before this event.
Earlier that we carried a detailed analysis of the current state of the Litecoin cryptocurrency, and also analyzed its behavior against the background of the recent halving that took place on August 5, 2019. If you are interested in this topic, here is a link to our study.
submitted by neironixio to u/neironixio [link] [comments]

Weekly news review (September 28-4)

Weekly news review (September 28-4)
Hello, Community! It's Monday again, but it doesn't have to be a bad thing since we've prepared the news highlights for you :)
https://preview.redd.it/rtqe88pur2r31.png?width=1200&format=png&auto=webp&s=0c733b3b83327bcb9cb055ce036e623e053b8fe4
The National Basketball Association (NBA) notified Brooklyn Nets’ player Spencer Dinwiddie that he cannot tokenize his $34.4 million contract.
As The New York Times reported on Sept. 27, the NBA pointed out that Dinwiddie’s initiative goes against the collective bargaining agreement in a statement sent to the outlet.
Dinwiddie, on the other hand, told the outlet that he intended to better illustrate the investment scheme to league officials, hoping to change their minds.
Per the report, by tokenizing the contract Dinwiddie would have allowed investors to bet — and capitalize — on his ability to play well enough to earn an even more lucrative contract after the second year of his deal. As Cointelegraph reported on Sept. 16, the plan was to enable investors to buy into his three-year $34 million playing contract with his team.

A new association in Japan brings significant institutional support to security token offerings (STO), just months before regulations on the public sale of coins in the country are to be implemented.
On Oct. 1, six major Japanese brokerages, including Nomura Securities and Daiwa Securities, formed the Japan STO Association, a self-regulatory organization (SRO) for STOs.
The association will devise rules and guidelines for the issuing of security tokens. In addition to regulating its members, the group will also take on lobbying duties, endeavoring to develop security tokens as a product and promote their use in the country.

UK police auctioned off more than $294,000 of cryptocurrency confiscated from the teenage hacker of EtherDelta and TalkTalk.
The Eastern Region Special Operations Unit (ERSOU) worked with Wilsons Auctions to sell the digital assets, including bitcoin, ripple and ethereum, in what is said to be the unit’s first such auction.
The department hired an asset management and realization contractor to vet the bidders “to ensure that the assets are not able to make their way back into crime,” according to the statement.

One of three scientists caught illegally bitcoin mining at a Russian nuclear lab has been fined 450,000 rubles, or $7,000.
As reported in the Moscow Times Tuesday, Denis Baykov was handed the penalty by a jurisdictional city court for accessing the lab’s supercomputer to illegally mine the world’s top cryptocurrency by market valuation.
The mining trio was first exposed last February and promptly handed over to the Federal Security Service.

The government of the Republic of Uzbekistan has ordered a 300% increase on electricity tariffs for cryptocurrency miners.
According to a Sept. 27 announcement, the Cabinet of Ministers of the Republic of Uzbekistan has decreed that cryptocurrency miners must pay three times more the existing electricity tariffs.
The provision follows an Aug. 22, 2019 decree from President Shavkat Mirziyoyev entitled “On Accelerated Measures to Improve Energy Efficiency of Economic Sectors and the Social Sphere, Implement Energy Saving Technologies and Develop Renewable Energy Sources” and to further motivate the rational use of electrical energy by consumers.

Feel free to leave your comments in the section down below!
submitted by rokkex to Rokkex [link] [comments]

Bitcoin legalized in Uzbekistan and Iran

News have emerged in Bitcoin being legitimazed in Uzbekistan.
A decree has been signed that permits the existence of cryptocurrency exchanges and other activity surrounding the industry. At the same time Iran's government is allegedly about to recognize Cryptocurrency Mining as Industry.
Which are your thoughts on that? I find the Iranian news especially interesting, as energy prices are very cheap in Iran.
submitted by emma1890 to u/emma1890 [link] [comments]

Decred price, price and price.

The only thing that actually matter in cryptocurrency in all of the cryptocurrencies that includes Bitcoin and Decred is price, price and price and for the last time price, don’t fool yourself thinking that technology matter because it doesn’t, at least not at the moment. As at the moment all cryptos if they don’t make you money either in satoshis or actual dollars than you abandon that project, Bitcoin has all that attention because of the price and it will get more attention once the price goes beyond the all-time high of 2017.
Now in the case of Decred, this coin doesn’t have a halving so the minting of new coins gradually comes down, as right now that level is at 9.5% yearly for staking by 2024 the minting of coins will come even lower but at the moment you can expect about 10 coins or more for block, meaning that demand can be met so that price will continue to go down. But if you are a holder and staker in Decred than you are pretty much fuck at current prices, because the minting and the fact that only about 50% of all coins are being stake that means that half the coins are for sell or trade.
For holders of Decree they will need to wait some more years for the supply to reach minting levels of Bitcoins meaning that there will be pressure to sell. The people who are selling right now are miners and investor that go for a short profit, whole long time believers are stuck with coins that are less value with every sell there is in exchanges, but we decided to take that risk.
Now my message is intended for those that hold at least the price of one ticket why because they are the ones that are actually holding, why only people who at least hold 1 ticket and not 1 coin, well to have one ticket you need to either have $3000 or about 150 coins, so you have the capital and the intention to see this through.
As we all know ascis miner are being sold and bought in the market the people that buy miners for decred can point their miners to other coins that may be more profitable at a certain time, so in this case miners and stakers that stay in the project or are thinking to stay are my main audience here.
If you already bought a miner and believed in the project you need to stake your coins and pay the electricity out of pocket instead of selling your coins in the market and bring in the price down with your electricity cost. If you are only staking you need to buy at least one miner and take the cost of electricity upon yourself for that miner otherwise the price will continue to come down. So, if you are staking one ticket that means you have at least some money, you could buy a miner put it to work pay for the electricity and don’t sell your coins because of electricity, that way is the only way for the price to increase
You will also gain something else in return those coins that you are mining won’t be listed on any exchange, it is true mining is not profitable but you will get your coins free of any trail from the exchanges, the electricity cost will be your cost for having privacy clean coins.
Now you don’t need to go crazy about buying miners just buy one put it in your house mine decred, one miner no one may noticed it or know that you are mining or maybe they do but they won’t know your address.
Remember that decred doesn’t have a halving so the only way to have price pumps is in news and in users actually locking up their coins, until the supply is less the price will continue to drop if the community together doesn’t do anything and leaves things as they are price will come even lower.
Once privacy options are added your coins will be free from stains and once privacy comes online you will be golden only you will know from where you got them. Mining will help you with that.
Now in term of price as long as Bitcoin continues to go up the price of Decred may go up in dollar terms it may decline in satoshis value because of the bitcoin dominance, so at this point the only price that actually matter than is bitcoin price, because the dollar price will go up together with bitcoin, so the only one that we need to take care is the bitcoin side of things by selling less and staking more, and by mining so that big miners who are actually selling to pay their bills can be taken out of the equation.
The is the only solution to price declining to mine and to stake more, if the same people that are staking right now decided to mine and stake at the same time than the price may go up just a little bit because there it will be less people selling. But know for it to work you will need to foot the electricity bill as well. Staking doesn’t take that much money but look others are devaluing your investment so you need to go balls deep as a whole in your investment meaning those that are staking right now need to mine also at least with one miner for user.
So about $3500 for staking and about another $3000 for the miner and maybe about $1000 for electricity cost, that would mean each believer of decred will need to foot a bill of $7500.00, how possible is this for the whole community to do is everybody else’s guess, but that is what it will take for the price to actually go up and for miners to stop selling your investment.
Or wait for good news, but if prices fall for too long or too far down than price may never recover. Don’t let your greed take fully control of the community.
submitted by francis105d1 to u/francis105d1 [link] [comments]

How the Lightning Network could ultimately destroy Bitcoin

TL;DR The LN will incentivize large hubs to offer managed/custodial bitcoin accounts to customers that will be dramatically cheaper and easier to use than real Bitcoin wallets. This invites the kind of financial middlemen and mischief that Bitcoin was created to work around.

Introduction: A successful future with the Lightning Network

The Bitcoin network is currently capable of only processing a handful of transactions per second globally. This is woefully inadequate, and so there is a lot of work being done to find solutions to address this. The Lightning Network is one of the main technological developments aimed at massively increasing the number of possible Bitcoin transactions. However, if and when this particular system is deployed, it will introduce economic incentives that may spell the end for Bitcoin, or at least for most of its primary benefits including both its limited supply and its censorship resistance.
To explain how this might happen, first imagine we are a number of years into the future where the Lightning Network (LN) has been deployed and everything has gone dramatically well. Bitcoin along with the LN now underscores a large proportion of all global financial transactions. At this point, the demand for on-chain transactions would be enormous and so also extremely expensive. Even if the block size / block weight limit were 10 times higher than it is today, the mining fee to get a transaction mined could be staggering by today's standards. Being conservative, let's say it is now $100 for a typical transaction.
In this environment, the vast majority of all Bitcoin transactions would happen through the LN. People could either pay $100 each time they make a payment, or just once to open an account with a LN hub which would enable potentially limitless cheap transactions (with some conditions). Most people would also receive their income through the LN channel, which would potentially allow them to keep their payment channel (their account) with the hub open indefinitely. However, if they do not balance incoming and outgoing payments over time, they would occasionally hit the limit of their account, and need to pay (another $100 plus the balance limit) for it to be re-funded. Everyone will be strongly incentivized to keep the bulk of their spendable money in LN hub accounts, make all payments through the hub and try their best to minimize the number of times they need to close/open/refund their account.
At this point things are not too bad for the end user. Users would benefit from the dramatic cost reductions from using the LN, and would remain in full control of their funds as they can always close their payment channel and settle the balance on the blockchain any time they like (for $100). There are several other benefits, including the privacy benefit of not broadcasting all transactions to the world on the main chain. However, this is not the end of the story.

Economy of scale: Hubs could get very large

Lightning Network hubs will need a fair amount of capital to get going. They will need to fund each payment channel with other LN hubs to a significant amount of bitcoin. The amount would ideally need to cover the maximum balance of all incoming and outgoing payments sent on the channel, from all payments relayed, ever. If that's not achievable, then the channels will just need to be occasionally re-funded when they hits their spend limits, along with the attached miner fees. Hubs that can afford to fund their channels with larger amounts up-front will need to refund fewer times—losing less money on miner fees—and will be able to extract significantly more income from the flow of transactions until they next need to do so. In other words, there is at least a small economy of scale here that will incentivize the growth of large hubs.

Hub-managed customer accounts

One way or another, either by economies of scale, or just by pure exuberance, very large professionalized hubs will appear. Given that they will have a lot of capacity, they will be looking for ways to onboard new customers. A significant problem all new customers face is the upfront cost of $100 for the miner fee and then the total value of whatever they would like to be able to spend on the account. One solution would be for these highly capitalized hubs to offer “managed” accounts to customers where the hub will make LN transactions on their customers' behalf, just like how current banks can make electronic transactions on behalf of their customers.
This would not involve the creation of any new LN channels whatsoever. The hub would only need to maintain a fairly large account of liquid funds available to be spent on their open LN payment channels for their customers. These sorts of accounts could be offered with very little upfront cost, or even for free initially. The customer would even be able to start off with a zero balance, and just have money sent to it later via incoming LN transactions—from their employer for instance.
The customer would then not have direct access to the Bitcoin network at all. Instead, we are back to a situation like the present financial world where trust is a central requirement. The LN hub could try to assure its customers and strengthen the level of trust by issuing tokens of some kind, rather than just leaving its customers with a promise to handle their funds appropriately. More likely though, the hub would just insure its customers' accounts against loss in the event the hub goes bust or otherwise loses the bitcoins. This latter option would mirror the current state of affairs where governments around the world are trying to phase out cash. If this happens, both with these hub-managed accounts and in a cashless society, all you will have is a bank account, a promise from the bank and their assurance: “Don't worry; it's insured”.

The re-emergence of fractional reserve lending

At this stage, hubs would be financially incentivized and able to hold fractional reserves to start loaning out depositors' bitcoins to borrowers. As with modern banking, most of the general public would not be opposed to this. It is quite a familiar practice and arguably good for the economy. It would also allow the LN hubs to offer free accounts indefinitely, perhaps ultimately paying interest to depositors out of the revenue generated from the loans.
Now, hubs that implement all of these features would probably be very large. Smaller hubs wouldn't have quite the same ability or inclination to get into this kind of risky business (and stay in business). Naturally, these larger hubs would end up under the spotlight of government oversight and would move to preemptively register for all recommended licenses. To the general public, these hubs will become the best known and most attractive of the available options. They would have a good strong established reputation, be fully insured, have close government supervision, government approval, and provide a good free service.
Once hubs of this size and sophistication have developed, it would be next to impossible for anyone to compete, much as it is now essentially impossible for anyone to start a bank. As the industry becomes professionalized, all hubs would become subject to government regulation and it would become illegal to start one without first getting the relevant licenses. It might be possible for people in their basements to start black market hubs anyway. And even though they would be horribly expensive to set up and wouldn't make anything close to the profit of the regulated hubs, they might nevertheless continue to exist to help reduce costs for a small number of idealists passionate about privacy and true freedom. The network of black market hubs might end up somewhat similar to the Bitcoin network as it is today, or smaller; essentially a little-known irrelevance to the vast majority of people, but an option to escape the system for those who choose to do so.

Embrace, extend and extinguish

So at this point, the lightning network would effectively either merge with or morph into a simile of the current banking system. Just as gold used to be physically ferried around in an expensive and inefficient exercise to conduct settlements between banks, bitcoins will instead be used to settle between hubs. Assuming that this system takes over completely from the current global banking system, then the mining fees for these settlement transactions might be truly astronomical, say $1,000 per transaction. So in the end, Bitcoin would be priced out of reach of everyone except financial institutions. Once it becomes particularly awkward and expensive for people to take delivery, due to these sorts of fees, Bitcoin's relevance will be gradually de-emphasized and eventually detached from the financial system by government decree—exactly as happened with gold in recent decades.

What went wrong

So how did this happen? The primary incentive for the growth of fractional reserve Bitcoin banks will come from any economies of scale in the costs of issuing transactions. So for instance, this applies where a service provider with a lot of capital can make transactions on behalf of its customers much more cheaply than the customers could themselves. Currently—or at least until very recently—no such economy of scale exists, primarily because there is currently no (well established) mechanism for aggregating multiple arbitrary payments into fewer or smaller blockchain transactions. With the Lightning Network however, heavily capitalized hubs will be able to make transactions at negligible marginal cost, while end users will need to spend a far larger relative chunk of their money opening and closing channels. As a result, there is an inescapable and huge economic incentive for hubs to act on behalf of their customers to issue transactions for them. This is fertile ground for hubs to then become banks, start up fractional reserve practices, dilute the money supply, gradually divert attention away from the underlying asset (Bitcoin) and ultimately detach it entirely from the financial system.

What can we do?

There are no doubt many clever ways to avert this possible future. One way is to ensure that the base layer is friction free. That is, we should aim to minimize the time and cost of on-chain transactions. This will leave no room for the growth of professional financial middlemen to re-emerge and reintroduce their bureaucracy, enforced mediation, censorship, monetary meddling, confiscation, counterfeiting, bailouts, bail-ins and wildly disproportionate influence and control they wield over the direction of the development of civilization.
Mining and node centralization has been explored in great detail. This certainly could become a problem too and we should try to guard against it. However we must not ignore the risks of centralization in higher levels, such as those within the Lightning Network.
submitted by frictionfreebase to btc [link] [comments]

Hydro Quebec will allow large scale mining operations

Translated from French webiste using Google translate:
Original source:http://www.tvanouvelles.ca/2018/05/30/quebec-ouvre-les-vannes-pour-la-cryptomonnaie-2
Translation:
The Couillard government will lift its moratorium on the sale of electricity to cryptocurrency miners, an energy-hungry industry that could absorb a large amount of Hydro-Québec's energy surplus, "Le Journal de Québec".
The Minister of Energy, Pierre Moreau, will present his colleagues today a decree that will regulate the sale of energy to minors bitcoins and other cryptocurrencies, a technology that requires powerful computers and energy-intensive, according to a well-informed source.
According to the information gathered by our Parliamentary Office, Quebec wants to avoid missing the ship cryptocurrency and can not wait.
The question is not insignificant. More than a hundred companies whose energy consumption exceeds 10 TWh have made requests to purchase electricity from Hydro-Québec. They are waiting for the end of the political impasse to have a response from the state corporation.
In comparison, Hydro-Québec's recurring surpluses are approximately 13 TWh, according to the data reported in the most recent Auditor General's report.
Hydro-Québec has never anticipated such an improvement. In January, CEO Eric Martel said in an interview with "Le Journal de Québec" that he planned to sell nearly 5 TWh to this sector in the coming years.
"This article has been translated by many sites specialized in cryptocurrency, it had circulated a lot. There was international media coverage, it gave an extra breath. At first, we say "it's fun, customers". But there is a point where there are too many requests, "notes Marc-Antoine Pouliot, spokesperson for Hydro-Québec.
"Forced offloading"
Pierre Moreau then put a stop and installed a quasi-moratorium. He said in February that "we must ensure that this type of business is controlled, so that Hydro-Québec does not see all of its production capacity absorbed".
Its decree, which will affect the Régie de l'énergie and Hydro-Québec, would set different rates for the mining of cryptocurrencies and would allow Hydro-Québec to do "forced load shedding", that is to say, to cut the food to these companies during the 100 to 300 hours per year when the Quebec power grid is at maximum capacity.
"Having interruptible customers during these critical periods makes it possible to connect more," said Hydro-Québec spokesman Marc-Antoine Pouliot, who can not confirm the content of the ministerial decree.
Hydro-Québec's mandate is "to ensure the implementation of cryptocurrencies in Quebec by maximizing economic benefits and ensuring the stability of our electricity supply." "We've been waiting a long time," says Pouliot.
The Coalition avenir Québec is asking the Couillard government to move for some time. "Minister Pierre Moreau is missing important investment projects for the province," said MP Chantale Soucy earlier this month.
More than 100 companies that consume more than 10 TWh await a response from Hydro-Québec.
Cryptocurrency drilling requires powerful computers to perform complex calculations in exchange for monetary gain. In the case of bitcoin, the best known of these cryptocurrencies, minors receive a small fraction of bitcoin.
Block-chain technology could revolutionize the storage and transmission of information.
submitted by haristourian to CryptoCurrency [link] [comments]

Cryptocurrencies are mixed as Kraken acquires European exchange for at least $100 million

Crypto Market Recap

Crypto Developments in Financial Services

Crypto Regulatory Environment

General Crypto News

Sources:
http://www.minci.gob.ve/wp-content/uploads/2019/01/Gaceta-Oficial-Decreto-Constituyente-sobre-el-Sistema-Integral-de-Criptoactivos.pdf https://coin360.io/ https://coinmarketcap.com/ https://cointelegraph.com/news/amazon-will-have-to-create-its-own-crypto-in-future-binance-ceo-says https://cointelegraph.com/news/crypto-valley-assoc-pres-switzerland-must-be-open-and-easy-for-blockchain-investors https://cointelegraph.com/news/indian-govt-committee-is-worried-about-cryptos-impact-on-rupees-stability-report https://cointelegraph.com/news/kraken-buys-uk-exchange-crypto-facilities-for-at-least-100-million https://cointelegraph.com/news/twitter-ceo-jack-dorsey-still-believes-bitcoin-will-be-internets-currency https://cointelegraph.com/news/us-securities-regulator-solicits-blockchain-analytics-companies-for-data-review https://cointelegraph.com/news/venezuela-new-crypto-legal-framework-comes-into-force https://cointelegraph.com/news/venezuela-parliament-approves-crypto-bill-to-combat-financial-blockade https://twitter.com/cz\_binance/status/1091696602308259840 https://www.apnews.com/7997739035034979a615ec35d8008866 https://www.coindesk.com/crypto-kraken-acquires-crypto-facilities https://www.coindesk.com/venezuelas-crypto-exchanges-miners-must-register-under-new-rules https://www.fbo.gov/index?s=opportunity&mode=form&id=c18a03f93cf06df47dab8a1c1a7f87a9&tab=core&\_cview=0 https://www.newsbtc.com/2019/02/04/kraken-completes-biggest-crypto-deal-in-2019-massive-100m-acquisition-that-may-boost-european-market/ https://www.swissinfo.ch/eng/daniel-haudenschild-\_crypto-bickering-has-set-switzerland-back--says-cva-president/44731108 https://youtu.be/\_mP9OmOFxc4
submitted by QuantalyticsResearch to CryptoCurrency [link] [comments]

ICO- Pledgecamp.....Awesome platform


Overview
Cryptocurrency is thought to be a digital currency that uses coding (cryptography) to come up with cash and to verify transactions. Transactions are added to a public ledger – also called a Transaction Block Chain – and new coins are shaped through a process known as mining.
As of 2018, cryptocurrency has been used as a suburbanite different chance to ancient decree currencies (which square measure sometimes backed by some central government) like the North American nation greenback (USD).
The History of Cryptocurrency
The first suburbanite digital cryptocurrency are often copied back to “bit gold” (not to be confused with Bitgold), that was worked on by Nick Szabo between 1998 and 2005 however was never put into operation.
Although bit gold is recognized to be the first precursor to bitcoin, cryptocurrency pioneer David Chaum’s company DigiCash (a company founded in 1989 which attempted to innovate digital currency), Wei Dai’s b-money (a abstract system revealed in 1998 that Satoshi cites it within the Bitcoin white paper), and “e-gold” (a centralized digital currency that started in 1996) square measure all notable early mentions.
With that history noted, fashionable digital currency starts in 2008 once Satoshi Nakamoto (an anonymous person and/or group) discharged their paper description what would become Bitcoin.
Bitcoin became the primary suburbanite digital coin once it absolutely was created in 2008. It then went public in 2009.
As of 2018, Bitcoin is that the most ordinarily notable and used cryptocurrency. Meanwhile, different coins together with Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and more are notable mentions.
Given the recognition of Bitcoin furthermore as its history, the term “altcoin” is typically accustomed describe different cryptocurrencies to bitcoin (especially coins with tiny market caps).
As of Jan 2015, there have been over five hundred differing kinds of cryptocurrencies – or altcoins – for trade on-line markets. However, only 10 of them had market capitalization over $10 million.
As of September 2017, there were over 1,100 cryptocurrencies and the total market capitalization of all cryptocurrencies reached an all-time high surpassing $60 billion! Then, by December 2017, the total market cap reached $600 billion (a multiple of 10 in only two months).
In different words, though the longer term is indeterminate, cryptocurrency seems to be more than just a fad. Today cryptocurrency is shaping up to be a growing market that (despite the pros and cons) is likely here for the long haul.
Introduction
Cryptocurrency is Associate in Nursing electronic currency created with technology dominant its creation “Crypto” is brief for “cryptography”, and cryptography is engineering used for safety, hiding information, identities and more. Currency simply means “money currently in use”.
Cryptocurrencies square measure digital cash designed to be swifter, inexpensive and more dependable than our regular government-issued money. Instead of trustful in an exceedingly government to make your cash and banks to store, send and receive it, users transact directly with each other and store their money themselves. Because folks will send cash directly while not a middleman, transactions square measure sometimes terribly cheap and quick.
To prevent fraud and manipulation, every user of a cryptocurrency can simultaneously record and verify their own transactions and the transactions of everyone else. The digital transaction recordings are known as a “ledger” and this ledger is publicly available to anyone. With this public ledger, transactions become efficient, permanent, secure and transparent.
With public records, cryptocurrencies don’t require you trust a bank to hold your money. They don’t need you to trust the person you're doing business with to really pay you. Instead, you'll be able to truly see the cash being sent, received, verified, and recorded by thousands of people. This system requires no trust. This distinctive positive quality is thought as “trustless” and protection, whereas concealing the identities of its users.
Overview
Cryptocurrency is thought to be a digital currency that uses coding (cryptography) to come up with cash and to verify transactions. Transactions are added to a public ledger – also called a Transaction Block Chain – and new coins are shaped through a process known as mining.
As of 2018, cryptocurrency has been used as a suburbanised different chance to ancient decree currencies (which square measure sometimes backed by some central government) like the North American nation greenback (USD).
The History of Cryptocurrency
The first suburbanised digital cryptocurrency are often copied back to “bit gold” (not to be confused with Bitgold), that was worked on by Nick Szabo between 1998 and 2005 however was never put into operation.
Although bit gold is recognized to be the first precursor to bitcoin, cryptocurrency pioneer David Chaum’s company DigiCash (a company founded in 1989 which attempted to innovate digital currency), Wei Dai’s b-money (a abstract system revealed in 1998 that Satoshi cites it within the Bitcoin white paper), and “e-gold” (a centralized digital currency that started in 1996) square measure all notable early mentions.
With that history noted, fashionable digital currency starts in 2008 once Satoshi Nakamoto (an anonymous person and/or group) discharged their paper description what would become Bitcoin.
Bitcoin became the primary suburbanised digital coin once it absolutely was created in 2008. It then went public in 2009.
As of 2018, Bitcoin is that the most ordinarily notable and used cryptocurrency. Meanwhile, different coins together with Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and more are notable mentions.
Given the recognition of Bitcoin furthermore as its history, the term “altcoin” is typically accustomed describe different cryptocurrencies to bitcoin (especially coins with tiny market caps).
As of Jan 2015, there have been over five hundred differing kinds of cryptocurrencies – or altcoins – for trade on-line markets. However, only 10 of them had market capitalizations over $10 million.
As of September 2017, there were over 1,100 cryptocurrencies and the total market capitalization of all cryptocurrencies reached an all-time high surpassing $60 billion! Then, by December 2017, the total market cap reached $600 billion (a multiple of 10 in only two months).
In different words, though the longer term is indeterminate, cryptocurrency seems to be more than just a fad. Today cryptocurrency is shaping up to be a growing market that (despite the pros and cons) is likely here for the long haul.
Introduction
Cryptocurrency is Associate in Nursing electronic currency created with technology dominant its creation “Crypto” is brief for “cryptography”, and cryptography is engineering used for safety, hiding information, identities and more. Currency simply means “money currently in use”.
Cryptocurrencies square measure digital cash designed to be swifter, inexpensive and more dependable than our regular government-issued money. Instead of trustful in an exceedingly government to make your cash and banks to store, send and receive it, users transact directly with each other and store their money themselves. Because folks will send cash directly while not a middleman, transactions square measure sometimes terribly cheap and quick.
To prevent fraud and manipulation, every user of a cryptocurrency can simultaneously record and verify their own transactions and the transactions of everyone else. The digital transaction recordings are known as a “ledger” and this ledger is publicly available to anyone. With this public ledger, transactions become efficient, permanent, secure and transparent.
With public records, cryptocurrencies don’t require you trust a bank to hold your money. They don’t need you to trust the person you're doing business with to really pay you. Instead, you'll be able to truly see the cash being sent, received, verified, and recorded by thousands of people. This system requires no trust. This distinctive positive quality is thought as “trustless” and protection, whereas concealing the identities of its users.
Pledgecamp Website: https://pledgecamp.com/
Pledgecamp Whitepaper: https://pledgecamp.com/__pdf/whitepaper-pledgecamp-9-23.pdf
Bounty0x Username: @cryptounique
submitted by 1loveone to BountyICO [link] [comments]

Bitcoin & Crypto Neuigkeiten! - YouTube BITCOIN: WIEDER IM ABSTEIGENDEN DREIECK!?! EILMELDUNG: BITCOIN MINER KAPITULATION & CHINA FUD!!! MEINE FINALE BITCOIN PREIS VORHERSAGE!!! WIRKLICH BULLISCHE BITCOIN NEWS!!! Miner verkaufen jetzt weniger Bitcoin!!!

Dual mining. It seems like an awesome idea: mine a few coins, collect them in both pockets. But then let’s take the Ezil.me pool for example. It offers dual mining with a 10% profit. We’ve been watching it for a while and here’s the thing: even the +10% calculations on its calculator were less than ours on the CoinFly pool. Auto-switching SimpleMining.net: Monitor and configure your GPU mining farm in one place. Please note that calculations are based on mean values, therefore your final results may vary. Estimated Rewards; Per Fees Est. Rewards Rev. BTC Rev. $ Cost Profit; Hour 0.000000 0.014300 0.000013 $0.18 $0.22 -$0.04 Day 0.000000 0.343194 0.000321 $4.22 $5.28 -$1.06 Week 0.000000 2.402358 0.002244 $29.53 $36.96 -$7.43 ... A recent Tokenanalyst report published that disclosed five bitcoin mining operations command more than 50% of the BTC hashrate. Venezuelan Authorities to Govern All Bitcoin Mining, by Decree - Decrypt. In brief. A new law mandates that all aspects of Bitcoin mining in Venezuelan are to be controlled by the state. ASIC manufacturing, mining farm construction, the import of equipment, and the distribution of funds will all be regulated under the new law. Cryptocurrency mining is legal in Venezuela provided a license is ... ☉ According to experts the field the new Decree, signed by the President of the Republic December 21, 2017, must create the region's unique conditions for the formation and strengthening of the information technology industry. Breaking News. Exchange Coinbase cryptocurrency issued Visa card⭐app; The Chinese authorities want to ban mining cryptocurrency⚙on!!! Whales bought bitcoin at $300 ...

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Bitcoin & Crypto Neuigkeiten! - YouTube

sunny decree 32,448 views. 14:24. How The Economic Machine Works by Ray Dalio - Duration: 31:00. Principles by Ray Dalio Recommended for you. 31:00. Tim Draper predicts the price of bitcoin after ... $17'000'000 BITCOIN MINER DUMP!!! sunny decree. Loading... Unsubscribe from sunny decree? ... sunny decree 22,485 views. New; 10:49. Coronavirus Could Fuel China Skepticism, Says Hubbard ... Miner verkaufen weniger Bitcoin auf Exchanges und die Einstiegsmöglichkeiten für institutionelle Investoren werden immer mehr. 00:00 Intro 00:53 Bitcoin Preis Fraktal 03:32 Bitcoin Miner 04:38 ... sunny decree DE; Videos; Playlists; Community; Channels; About; Home Trending History Get YouTube Premium ... 🛑EILMELDUNG: BITCOIN MINER KAPITULATION & CHINA FUD!!!🛑 by sunny decree DE. 9:38 ... sunny decree DE 3,496 views. New; 9:51. BESTE Bitcoin Preisvorhersage JEMALS!! Dieser Typ lag NOCH NIE FALSCH!!! - Duration: 10:58. MMCrypto DE 14,529 views. 10:58. Will 2020 Be a Good Year for ...

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