Bitcoin Futures Traders on the Fence Despite Recent Price ...

Activism through charitable giving

Focused giving by MRAs to charities that support men.
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Made a video on bitcoin and blockchain. Would really appreciate it if you gave it a watch. This is for the public to open their eyes to new technology that will change the decade. Thanks!

Made a video on bitcoin and blockchain. Would really appreciate it if you gave it a watch. This is for the public to open their eyes to new technology that will change the decade. Thanks! submitted by satoshijabroni to Bitcoin [link] [comments]

The APPICS community is on fire! Thank you for your positive feedback. The team really appreciates your support and belief in the project. We’re just getting started 🔥 #community #feedback #socialmedia #appics #blockchain #cryptocurrency #earn #money #bitcoin #apx

The APPICS community is on fire! Thank you for your positive feedback. The team really appreciates your support and belief in the project. We’re just getting started 🔥 #community #feedback #socialmedia #appics #blockchain #cryptocurrency #earn #money #bitcoin #apx submitted by appics to u/appics [link] [comments]

I appreciate this project, its clear roadmap, great ideas, and huge community benefits. I hope that the project will be successful, and I will always follow.#SwapZilla #ico #crypto #bitcoin #ethereum #blockchain #btc

I appreciate this project, its clear roadmap, great ideas, and huge community benefits. I hope that the project will be successful, and I will always follow.#SwapZilla #ico #crypto #bitcoin #ethereum #blockchain #btc submitted by valenta5 to BountyICO [link] [comments]

08-23 03:13 - '[[link]] / " As not only a sex offender but also a former math teacher, Epstein appreciates the security that comes from the mathematical work that goes into Bitcoin’s Blockchain. " i have to ask, is this real life?' by /u/SatoshiNakaMario removed from /r/Bitcoin within 0-3min

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" As not only a sex offender but also a former math teacher, Epstein appreciates the security that comes from the mathematical work that goes into Bitcoin’s Blockchain. " i have to ask, is this real life?
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Author: SatoshiNakaMario
1: coi*te***r**h.com*ne*s*bitcoin-burst*n*-*ith*po*e*tial-*ay*-billionai*e-jeff-*pste** 2: coi*tel*gra*h***m*n*ws/bitco*n-**rstin*-*ith-*otential-s*ys-b*ll*o*air**j*ff-epstein]^^*
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

Auto Post from Bitcoin: Come to Canada Bitcoiners. You are not appreciated there. One western country should be able to compete freely with Asia’s dominance in blockchain and Bitcoin. It won’t be USA with their backwards current policy which will change in the future but it’ll be too late...

submitted by bunnywinkles to Crypto_Warriors [link] [comments]

Could the Bitcoin blockchain function with only miners and no full nodes? Any explanation would be appreciated. Thanks!

submitted by axecap1 to Bitcoin [link] [comments]

We have become fans of your great work. It is very well appreciated. ooobtc #obx #crypto #bitcoin #ethereum #blockchain #btc #toqqn

submitted by sujonhossan54 to u/sujonhossan54 [link] [comments]

"But still, eight years after Bitcoin launched, Satoshi Nakamoto remains the only creator to have built a blockchain that an appreciable number of ordinary people actually want to use."

submitted by Bitim to Bitcoin [link] [comments]

We are very grateful to all respected trackers that they so highly appreciate our project and team. We will further develop and improve our social betting platform for all our users. https://www.betformcoin.io #crypto #blockchain #Ai #icos #ethereum #bitcoin #cryptocurrency #ICO #tokensale

We are very grateful to all respected trackers that they so highly appreciate our project and team. We will further develop and improve our social betting platform for all our users. https://www.betformcoin.io #crypto #blockchain #Ai #icos #ethereum #bitcoin #cryptocurrency #ICO #tokensale submitted by baoanhq9 to CryptocurrencyICO [link] [comments]

☂️🔥🔥🔥Lucre(LCR) Project — Algorithmic trading Platform on a BLOCKCHAIN Network. A good project with a talented team and clear roadmap, the project is on the right track. This is a project I highly appreciate. 👉https://www.lucretoken.com 😁#crypto #ICO #Lucre #LCR #Bitcoin #Cryptocurrency

☂️🔥🔥🔥Lucre(LCR) Project — Algorithmic trading Platform on a BLOCKCHAIN Network. A good project with a talented team and clear roadmap, the project is on the right track. This is a project I highly appreciate. 👉https://www.lucretoken.com 😁#crypto #ICO #Lucre #LCR #Bitcoin #Cryptocurrency submitted by Varkrix to LucreToken [link] [comments]

Guys, sorry in advance for asking this question, but I need to know which is the best and most secure wallet for iPhone ? Im currently using blockchain wallet. Appreciate all the answers I can get. /r/Bitcoin

Guys, sorry in advance for asking this question, but I need to know which is the best and most secure wallet for iPhone ? Im currently using blockchain wallet. Appreciate all the answers I can get. /Bitcoin submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

xBTC MINT Protocol is going live in few hours!!!

🔴What is xBTC?
One Token access to:
xBTC gives users one token access to every single digital asset on earth, pegged against Bitcoin dominance. We call this a “Dominance Hedge.” As the inferior and sluggish Bitcoin loses its dominance, xBTC holders will benefit. DeFi, Social Networks, Gaming, Smart Contracts – all blockchains are all represented by xBTC. With a few clicks of the mouse, users benefit from access to hundreds of digital assets. This is: diversification, better returns, and innovation - this is xBTC.

🔴What is xBTC MINT Protocol
xBTC mint protocol incentivizes liquidity providers who stake their liquidity pool tokens in the Mint by providing them with xBTC tokens to compensate for the impermanent loss. It is similar to AMPL's Geyser.

🔴 Liquidity Incentives Explained
Users can only deposit xBTC/ETH Liquidity pool tokens into the Mint Version 1. Our timeline for this changing (i.e. adding more pools) will be reactive to the market but we will reassess in 3 months at the latest, however the xBTC/ETH incentives will run for 7 months regardless of other pools opening.

🔴 What can I deposit? xBTC/ETH Uniswap V2 Liquidity Tokens

🔴How are rewards calculated?
This is highly variable, you will receive rewards based on two factors:
  1. How much liquidity you add, the more you add the higher your rewards
  2. How long you stake your liquidity tokens, the longer you stake the higher your rewards
a. The amount of rewards increases linearly from day one, on day one you get 1x rewards, on day 180 you get 3x rewards, pulling out before 180 days would net you somewhere between 1x-3x rewards. After day 180 you continue earning 3x rewards everyday until you unstake.

🔴How many rewards can I earn?
We will aim for a competitive APY based solely on the xBTC rewards, however the results could easily be much higher than the competition depending on how many people stake. On top of this you will be earning fees from the liquidity pool tokens, also any market cap appreciation of Ethereum or xBTC will be realized on your LP tokens (minus impermanent loss). Lastly we will have a 6 month bonus. Our reward structure will look approximately like this: miro.medium.com/max/576/1*Dl8trOggg3k07T5_hxJ90g.jpeg

🔴What is the 6 month bonus?
There will be a separate reward pool for those who support xBTC long term, anyone who keeps their tokens staked for 6+ months (through the end of Mint Version 1) will share the 40,000 xBTC pool. We see this being only a select few who truly share the long term vision of xBTC and we see it being highly rewarding, however that completely depends on how many people stake for a full 6 months. This also means you must stake in the first 4 weeks to be eligible for the 6 month bonus.

🔴Why is the pot split 4 months and 3 months?
We have done this to be responsive to the market. Uniswap V3 may come sooner than later, if this happens we will likely have to reassess and adjust the Mint. We don’t want our users to be stuck providing liquidity on Uniswap V2 if it would be advantageous to switch to V3. With this unknown we wanted to split the terms up, however you don’t have to do anything at 4 months, your tokens will automatically start farming the next 3 month reward pool and you will maintain your bonus (1x-3x depending on how long you have staked).

🔴xBTC and the Mint
The Mint is meant to align our community’s incentives with the project’s incentives. It is also meant to reward our users for supporting our ecosystem. This is a huge step forward for xBTC and acts as an essential part of our long term growth and sustainability. We look forward to continuing to evolve and improve the Mint the build out our ecosystem more broadly and effectively. Thank you to all of our early supports and believers, we are just getting started, onwards and upwards.
Uniswap: https://app.uniswap.org/#/swap?inputCurrency=0xecbf566944250dde88322581024e611419715f7a
Website: xbtc.fi
Telegram: xBTC_Official
Twitter: twitter.com/XBTC_Official
Mint Protocol Launch Countdown: https://www.timeanddate.com/countdown/launch?iso=20201013T1730&p0=256&msg=Get+Ready+To+Mint+In
submitted by TranquiliZer93 to CryptoMoonShots [link] [comments]

A Detailed Summary of Every Single Reason Why I am Bullish on Ethereum

The following will be a list of the many reasons why I hold and am extremely bullish on ETH.

This is an extremely long post. If you just want the hopium without the detail, read the TL;DR at the bottom.

ETH 2.0

As we all know, ETH 2.0 phase 0 is right around the corner. This will lock up ETH and stakers will earn interest on their ETH in return for securing the network. Next comes phase 1 where the ETH 2 shards are introduced, shards are essentially parallel blockchains which are each responsible for a different part of Ethereum’s workload, think of it like a multi-core processor vs a single core processor. During phase 1, these shards will only act as data availability layers and won’t actually process transactions yet. However, their data can be utilised by the L2 scaling solution, rollups, increasing Ethereum’s throughput in transactions per second up to 100,000 TPS.
After phase 1 comes phase 1.5 which will move the ETH 1.0 chain into an ETH 2 shard and Ethereum will be fully secured by proof of stake. This means that ETH issuance will drop from around 5% per year to less than 1% and with EIP-1559, ETH might become a deflationary asset, but more on that later.
Finally, with ETH 2.0 phase two, each shard will be fully functional chains. With 64 of them, we can expect the base layer of Ethereum to scale around 64x, not including the massive scaling which comes from layer 2 scaling solutions like rollups as previously mentioned.
While the scaling benefits and ETH issuance reduction which comes with ETH 2.0 will be massive, they aren’t the only benefits. We also get benefits such as increased security from PoS compared to PoW, a huge energy efficiency improvement due to the removal of PoW and also the addition of eWASM which will allow contracts to be programmed in a wide range of programming languages, opening the floodgates for millions of web devs who want to be involved in Ethereum but don’t know Ethereum’s programming language, Solidity.

EIP-1559 and ETH scarcity

As I covered in a previous post of mine, ETH doesn’t have a supply cap like Bitcoin. Instead, it has a monetary policy of “minimum viable issuance”, not only is this is a good thing for network security, but with the addition of EIP-1559, it leaves the door open to the possibility of ETH issuance going negative. In short, EIP-1559 changes the fee market to make transaction prices more efficient (helping to alleviate high gas fees!) by burning a variable base fee which changes based on network usage demand rather than using a highest bidder market where miners simply include who pays them the most. This will result in most of the ETH being paid in transaction fees being burned. As of late, the amount which would be burned if EIP-1559 was in Ethereum right now would make ETH a deflationary asset!

Layer 2 Scaling

In the mean time while we are waiting for ETH 2.0, layer 2 scaling is here. Right now, projects such as Deversifi or Loopring utilise rollups to scale to thousands of tx/s on their decentralised exchange platforms or HoneySwap which uses xDai to offer a more scalable alternative to UniSwap. Speaking of which, big DeFi players like UniSwap and Synthetix are actively looking into using optimistic rollups to scale while maintaining composability between DeFi platforms. The most bullish thing about L2 scaling is all of the variety of options. Here’s a non exhaustive list of Ethereum L2 scaling solutions: - Aztec protocol (L2 scaling + privacy!) - ZKSync - Loopring - Raiden - Arbitrum Rollups - xDai - OMGNetwork - Matic - FuelLabs - Starkware - Optimism - Celer Network - + Many more

DeFi and Composability

If you’re reading this, I am sure you are aware of the phenomena which is Decentralised Finance (DeFi or more accurately, open finance). Ethereum is the first platform to offer permissionless and immutable financial services which when interacting with each other, lead to unprecedented composability and innovation in financial applications. A whole new world of possibilities are opening up thanks to this composability as it allows anyone to take existing pieces of open source code from other DeFi projects, put them together like lego pieces (hence the term money legos) and create something the world has never seen before. None of this was possible before Ethereum because typically financial services are heavily regulated and FinTech is usually proprietary software, so you don’t have any open source lego bricks to build off and you have to build everything you need from scratch. That is if what you want to do is even legal for a centralised institution!
Oh, and if you think that DeFi was just a fad and the bubble has popped, guess again! Total value locked in DeFi is currently at an all time high. Don’t believe me? Find out for yourself on the DeFi Pulse website.

NFTs and tokeniation

NFTs or “Non-Fungible Tokens” - despite the name which may confuse a layman - are a basic concept. They are unique tokens with their own unique attributes. This allows you to create digital art, human readable names for your ETH address (see ENS names and unstoppable domains), breedable virtual collectible creatures like crypto kitties, ownable in game assets like Gods Unchained cards or best of all in my opinion, tokenised ownership of real world assets which can even be split into pieces (this doesn’t necessarily require an NFT. Fungible tokens can be/are used for some of the following use cases). This could be tokenised ownership of real estate (see RealT), tokenised ownership of stocks, bonds and other financial assets (which by the way makes them tradable 24/7 and divisible unlike through the traditional system) or even tokenised ownership of the future income of a celebrity or athlete (see when NBA player Spencer Dinwiddie tokenized his own NBA contract.)

Institutional Adoption

Ethereum is by far the most widely adopted blockchain by enterprises. Ethereum’s Enterprise Ethereum Alliance (EEA) is the largest blockchain-enterprise partnership program and Ethereum is by far the most frequently leveraged blockchain for proof of concepts and innovation in the blockchain space by enterprises. Meanwhile, there are protocols like the Baseline protocol which is a shared framework which allows enterprises to use Ethereum as a common frame of reference and a base settlement layer without having to give up privacy when settling on the public Ethereum mainnet. This framework makes adopting Ethereum much easier for other enterprises.

Institutional Investment

One of Bitcoin’s biggest things it has going for it right now is the growing institutional investment. In case you were wondering, Ethereum has this too! Grayscale offers investment in the cryptocurrency space for financial institutions and their Ethereum fund has already locked up more than 2% of the total supply of ETH. Not only this, but as businesses transact on Ethereum and better understand it, not only will they buy up ETH to pay for their transactions, but they will also realise that much like Bitcoin, Ethereum is a scarce asset. Better yet, a scarce asset which offers yield. As a result, I expect to see companies having ETH holdings become the norm just like how Bitcoin is becoming more widespread on companies’ balance sheets.

The state of global markets

With asset prices in almost every asset class at or near all-time highs and interest rates lower than ever and even negative in some cases, there really aren’t many good opportunities in the traditional financial system right now. Enter crypto - clearly the next evolution of financial services (as I explained in the section on DeFi earlier in this post), with scarce assets built in at the protocol layer, buying BTC or ETH is a lot like buying shares in TCP/IP in 1990 (that is if the underlying protocols of the internet could be invested in which they couldn’t). Best of all, major cryptos are down from their all-time highs anywhere between 35% for BTC or 70% for ETH and much more for many altcoins. This means that they can significantly appreciate in value before entering uncharted, speculative bubble territory.
While of course we could fall dramatically at any moment in the current macro financial conditions, as a longer term play, crypto is very alluring. The existing financial system has shown that it is in dire need of replacing and the potential replacement has started rearing its head in the form of crypto and DeFi.

Improvements in user onboarding and abstracting away complexity

Ethereum has started making huge leaps forward in terms of usability for the end user. We now have ENS names and unstoppable domains which allow you to send ETH to yournamehere.ETH or TrickyTroll.crypto (I don’t actually have that domain, that’s just an example). No longer do you have to check every character of your ugly hexadecimal 0x43AB96D… ETH address to ensure you’re sending your ETH to the right person. We also have smart contract wallets like Argent wallet or the Gnosis safe. These allow for users to access their wallets and interact with DeFi self-custodially from an app on their phone without having to record a private key or recovery phrase. Instead, they offer social recovery and their UI is straight forward enough for anyone who uses a smart phone to understand. Finally, for the more experienced users, DApps like Uniswap have pretty, super easy to use graphical user interfaces and can be used by anyone who knows how to run and use a browser extension like Metamask.

The lack of an obvious #1 ETH killer

One of Ethereum’s biggest threats is for it to be overthrown by a so-called “Ethereum killer” blockchain which claims to do everything Ethereum can do and sometimes more. While there are competitors which are each formidable to a certain extent such as Polkadot, Cardano and EOS, each have their own weaknesses. For example, Polkadot and Cardano are not fully operational yet and EOS is much more centralised than Ethereum. As a result, none of these competitors have any significant network effects just yet relative to the behemoth which is Ethereum. This doesn’t mean that these projects aren’t a threat. In fact, I am sure that projects like Polkadot (which is more focused on complimenting Ethereum than killing it) will take a slice out of Ethereum’s pie. However, I am still very confident that Ethereum will remain on top due to the lack of a clear number 2 smart contract platform. Since none of these ETH killers stands out as the second place smart contract platform, it makes it much harder for one project to create a network effect which even begins to threaten Ethereum’s dominance. This leads me onto my next reason - network effects.

Network effects

This is another topic which I made a previous post on. The network effect is why Bitcoin is still the number one cryptocurrency and by such a long way. Bitcoin is not the most technologically advanced cryptocurrency. However, it has the most widespread name recognition and the most adoption in most metrics (ETH beats in in some metrics these days). The network effect is also why most people use Zoom and Facebook messengeWhatsApp despite the existence of free, private, end to end encrypted alternatives which have all the same features (Jitsi for the zoom alternative and Signal for the private messenger app. I highly recommend both. Let’s get their network effects going!). It is the same for Bitcoin. People don’t want to have to learn about or set up a wallet for alternative options. People like what is familiar and what other people use. Nobody wants to be “that guy” who makes you download yet another app and account you have to remember the password/private key for. In the same way, Enterprises don’t want to have to create a bridge between their existing systems and a dozen different blockchains. Developers don’t want to have to create DeFi money legos from scratch on a new chain if they can just plug in to existing services like Uniswap. Likewise, users don’t want to have to download another browser extension to use DApps on another chain if they already use Ethereum. I know personally I have refrained from investing in altcoins because I would have to install another app on my hardware wallet or remember another recovery phrase.
Overthrowing Ethereum’s network effect is one hell of a big task these days. Time is running out for the ETH killers.

Ethereum is the most decentralised and provably neutral smart contract platform

Ethereum is also arguably the most decentralised and provably neutral smart contract platform (except for maybe Ethereum Classic on the neutrality part). Unlike some smart contract platforms, you can’t round up everyone at the Ethereum Foundation or any select group of people and expect to be able to stop the network. Not only this, but the Ethereum foundation doesn’t have the ability to print more ETH or push through changes as they wish like some people would lead you on to believe. The community would reject detrimental EIPs and hard fork. Ever since the DAO hack, the Ethereum community has made it clear that it will not accept EIPs which attempt to roll back the chain even to recover hacked funds (see EIP-999).
Even if governments around the world wanted to censor the Ethereum blockchain, under ETH 2.0’s proof of stake, it would be incredibly costly and would require a double digit percentage of the total ETH supply, much of which would be slashed (meaning they would lose it) as punishment for running dishonest validator nodes. This means that unlike with proof of work where a 51% attacker can keep attacking the network, under proof of stake, an attacker can only perform the attack a couple of times before they lose all of their ETH. This makes attacks much less financially viable than it is on proof of work chains. Network security is much more than what I laid out above and I am far from an expert but the improved resistance to 51% attacks which PoS provides is significant.
Finally, with the US dollar looking like it will lose its reserve currency status and the existing wire transfer system being outdated, superpowers like China won’t want to use US systems and the US won’t want to use a Chinese system. Enter Ethereum, the provably neutral settlement layer where the USA and China don’t have to trust each other or each other’s banks because they can trust Ethereum. While it may sound like a long shot, it does make sense if Ethereum hits a multi-trillion dollar market cap that it is the most secure and neutral way to transfer value between these adversaries. Not to mention if much of the world’s commerce were to be settled in the same place - on Ethereum - then it would make sense for governments to settle on the same platform.

ETH distribution is decentralised

Thanks to over 5 years of proof of work - a system where miners have to sell newly minted ETH to pay for electricity costs - newly mined ETH has found its way into the hands of everyday people who buy ETH off miners selling on exchnages. As pointed out by u/AdamSC1 in his analysis of the top 10K ETH addresses (I highly recommend reading this if you haven’t already), the distribution of ETH is actually slightly more decentralised than Bitcoin with the top 10,000 ETH wallets holding 56.70% of ETH supply compared to the top 10,000 Bitcoin wallets which hold 57.44% of the Bitcoin supply. This decentralised distribution means that the introduction of staking won’t centralise ETH in the hands of a few wallets who could then control the network. This is an advantage for ETH which many proof of stake ETH killers will never have as they never used PoW to distribute funds widely throughout the community and these ETH killers often did funding rounds giving large numbers of tokens to VC investors.

The community

Finally, while I may be biased, I think that Ethereum has the friendliest community. Anecdotally, I find that the Ethereum developer community is full of forward thinking people who want to make the world a better place and build a better future, many of whom are altruistic and don’t always act in their best interests. Compare this to the much more conservative, “at least we’re safe while the world burns” attitude which many Bitcoiners have. I don’t want to generalise too much here as the Bitcoin community is great too and there are some wonderful people there. But the difference is clear if you compare the daily discussion of Bitcoin to the incredibly helpful and welcoming daily discussion of EthFinance who will happily answer your noob questions without calling you an idiot and telling you to do you own research (there are plenty more examples in any of the daily threads). Or the very helpful folks over at EthStaker who will go out of their way to help you set up an ETH 2.0 staking node on the testnets (Shoutout to u/superphiz who does a lot of work over in that sub!). Don’t believe me? Head over to those subs and see for yourself.
Please don’t hate on me if you disagree about which project has the best community, it is just my very biased personal opinion and I respect your opinion if you disagree! :)

TL;DR:

submitted by Tricky_Troll to CryptoCurrency [link] [comments]

Hello! I have BTC on a Nano S and I have BTC on a paper wallet. I have read about issues with importing keys to electrum, blockchain.info, jaxx have had security issues. What is the safest way to transfer my BTC to Nano S. Your expertise is appreciated. /r/Bitcoin

Hello! I have BTC on a Nano S and I have BTC on a paper wallet. I have read about issues with importing keys to electrum, blockchain.info, jaxx have had security issues. What is the safest way to transfer my BTC to Nano S. Your expertise is appreciated. /Bitcoin submitted by HiIAMCaptainObvious to BitcoinAll [link] [comments]

Don't Let Them Fool You

The Legacy financial institutions would love to have you believe that Bitcoin is correlated to the overall performance of the stock market. But when pondering that possibility even for a moment you can see that their arguments fail to add up in any logical context. The reason is pretty simple really. It's because when you understand the fact that Bitcoin was created as as an alternative to the existing financial institution, and that vast majority of folks who are buying Bitcoin are ideologically aligned with preserving their own Financial autonomy and voting against the existing corrupt system. With that said and when considering that supply and demand determines value coupled with the fact that this is the world's truly first finite asset, you can see that this is just a elaborate ruse. Especially when you see that the vast majority of bitcoin haven't moved on the blockchain for a very long time.
In the short to medium-term I expect the banks will continue to try and manipulate the USD price of BTC to perpetuate The Narrative that bitcoin is correlated to the stock market performance. They will do so via a process they have done for the last few years involving their over-the-counter exchanges, cash settled Futures, and their control of the Bitcoin exchanges involving rehypothification and commingling. They do this out of their desperation to perpetuate their relavency but in the end I'm betting that they can't beat math.
As for myself I will be continuing to dollar cost average buy and buy aggressively on the dips while HODLing my own KEYS. Not because of the potential short-term dollar appreciation, but because of my vote in the system of true Freedom away from the corrupt Fiat system that we are all subjects to. I do so because I believe that more and more people will decide to vote for bitcoin and join the Dollar Cost Averaging HODL freedom fighters and that together we can and will change the world for the better for all (except the banksters).
Edit : spelling.
submitted by BitcoinCanSaveUsAll to Bitcoin [link] [comments]

03-01 02:42 - 'i have virtually lost everything - if someone financially stable could help me, i would greatly appreciate it, i will strive to pay back all funds by the end of the year. Kind regards' (blockchain.info) by /u/IN-SHOCK removed from /r/Bitcoin within 0-8min

i have virtually lost everything - if someone financially stable could help me, i would greatly appreciate it, i will strive to pay back all funds by the end of the year. Kind regards
Go1dfish undelete link
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Author: IN-SHOCK
submitted by removalbot to removalbot [link] [comments]

Hey guys, I posted a short article on Bitcoin and Blockchain Technology. I would really appreciate some feedback or suggestion on it. If I've stated anything that is inaccurate, please let me know, and I'll be glad to fix it. Much appreciated.

Hey guys, I posted a short article on Bitcoin and Blockchain Technology. I would really appreciate some feedback or suggestion on it. If I've stated anything that is inaccurate, please let me know, and I'll be glad to fix it. Much appreciated. submitted by HiIAMCaptainObvious to BitcoinAll [link] [comments]

Hey guys, I posted a short article on Bitcoin and Blockchain Technology. I would really appreciate some feedback or suggestion on it. If I've stated anything that is inaccurate, please let me know, and I'll be glad to fix it. Much appreciated!

Hey guys, I posted a short article on Bitcoin and Blockchain Technology. I would really appreciate some feedback or suggestion on it. If I've stated anything that is inaccurate, please let me know, and I'll be glad to fix it. Much appreciated! submitted by HiIAMCaptainObvious to BitcoinAll [link] [comments]

Writing a book on Bitcoin and blockchain technology, and I'm looking for particularly illuminating arguments for why it's taken as a given that a hostile attacker can't mass enough computing power to perform a 51% attack. Any help appreciated!

Hey all! As the title says, I'm working on a book about Bitcoin, blockchain tech, and cryptocurrencies. The section I'm working on now is about how the blockchain provides such robust security.
Bitcoin takes as a given that honest nodes will always control a majority of the computing power. To a reader who is unfamiliar with the space, though, this seems like an unsubstantiated claim. I have a vague understanding of why this is true, but I can't find a way to express it in a way that would be convincing to a layperson. Is anyone aware of any particularly illustrative examples of why this assumption is taken for granted among the Bitcoin community?
As an example of what I'm looking for, here is an illustration I'm using to demonstrate the security of a single Bitcoin private key, adapted from Bruce Schneier's writing (ctrl+f "second law of thermodynamics"):
First, recognize that a specific consequence of the second law of thermodynamics is that there is a minimum energy required to change a single binary bit of information.
Now suppose you were able to harness the entire energy output of the sun only to power a specially designed computer, whose job is to count through private keys, in the hopes of finding one corresponding to a public key that held Bitcoins.
Using a bit of math, you'll find that a perfectly efficient computer can count through 2178 values given the sun's entire annual energy output. If we divide this value into the number of possible private keys, 2256, we find that this hypothetical computer would only be able to count through 0.0000000000000000000003% of the total number of possible private keys, given the entire annual energy output of the sun.
Furthermore, this is just counting, and doesn't actually include the monumentally more complex task of actually checking each private key to see if it corresponds to a “winning” public key. So in the 0.0000000000000000000003% chance this computer did happen across a lucky private key, it wouldn't even know it.
Schneier closes with this: “These numbers have nothing to do with the technology of the devices; they are the maximums that thermodynamics will allow. And they strongly imply that brute-force attacks against 256-bit keys will be infeasible until computers are built from something other than matter and occupy something other than space.”
submitted by coinop-logan to Bitcoin [link] [comments]

A Detailed Summary of Every Single Reason Why I am Bullish on ETH.

The following will be a list of the many reasons why I hold and am extremely bullish on ETH.

This is an extremely long post. If you just want the hopium without the detail, read the TL;DR at the bottom.

ETH 2.0

As we all know, ETH 2.0 phase 0 is right around the corner. This will lock up ETH and stakers will earn interest on their ETH in return for securing the network. Next comes phase 1 where the ETH 2 shards are introduced, shards are essentially parallel blockchains which are each responsible for a different part of Ethereum’s workload, think of it like a multi-core processor vs a single core processor. During phase 1, these shards will only act as data availability layers and won’t actually process transactions yet. However, their data can be utilised by the L2 scaling solution, rollups, increasing Ethereum’s throughput in transactions per second up to 100,000 TPS.
After phase 1 comes phase 1.5 which will move the ETH 1.0 chain into an ETH 2 shard and Ethereum will be fully secured by proof of stake. This means that ETH issuance will drop from around 5% per year to less than 1% and with EIP-1559, ETH might become a deflationary asset, but more on that later.
Finally, with ETH 2.0 phase two, each shard will be fully functional chains. With 64 of them, we can expect the base layer of Ethereum to scale around 64x, not including the massive scaling which comes from layer 2 scaling solutions like rollups as previously mentioned.
While the scaling benefits and ETH issuance reduction which comes with ETH 2.0 will be massive, they aren’t the only benefits. We also get benefits such as increased security from PoS compared to PoW, a huge energy efficiency improvement due to the removal of PoW and also the addition of eWASM which will allow contracts to be programmed in a wide range of programming languages, opening the floodgates for millions of web devs who want to be involved in Ethereum but don’t know Ethereum’s programming language, Solidity.

EIP-1559 and ETH scarcity

As I covered in a previous post of mine, ETH doesn’t have a supply cap like Bitcoin. Instead, it has a monetary policy of “minimum viable issuance”, not only is this is a good thing for network security, but with the addition of EIP-1559, it leaves the door open to the possibility of ETH issuance going negative. In short, EIP-1559 changes the fee market to make transaction prices more efficient (helping to alleviate high gas fees!) by burning a variable base fee which changes based on network usage demand rather than using a highest bidder market where miners simply include who pays them the most. This will result in most of the ETH being paid in transaction fees being burned. As of late, the amount which would be burned if EIP-1559 was in Ethereum right now would make ETH a deflationary asset!

Layer 2 Scaling

In the mean time while we are waiting for ETH 2.0, layer 2 scaling is here. Right now, projects such as Deversifi or Loopring utilise rollups to scale to thousands of tx/s on their decentralised exchange platforms or HoneySwap which uses xDai to offer a more scalable alternative to UniSwap. Speaking of which, big DeFi players like UniSwap and Synthetix are actively looking into using optimistic rollups to scale while maintaining composability between DeFi platforms. The most bullish thing about L2 scaling is all of the variety of options. Here’s a non exhaustive list of Ethereum L2 scaling solutions: - Aztec protocol (L2 scaling + privacy!) - ZKSync - Loopring - Raiden - Arbitrum Rollups - xDai - OMGNetwork - Matic - FuelLabs - Starkware - Optimism - Celer Network - + Many more

DeFi and Composability

If you’re reading this, I am sure you are aware of the phenomena which is Decentralised Finance (DeFi or more accurately, open finance). Ethereum is the first platform to offer permissionless and immutable financial services which when interacting with each other, lead to unprecedented composability and innovation in financial applications. A whole new world of possibilities are opening up thanks to this composability as it allows anyone to take existing pieces of open source code from other DeFi projects, put them together like lego pieces (hence the term money legos) and create something the world has never seen before. None of this was possible before Ethereum because typically financial services are heavily regulated and FinTech is usually proprietary software, so you don’t have any open source lego bricks to build off and you have to build everything you need from scratch. That is if what you want to do is even legal for a centralised institution!
Oh, and if you think that DeFi was just a fad and the bubble has popped, guess again! Total value locked in DeFi is currently at an all time high. Don’t believe me? Find out for yourself at: https://defipulse.com

NFTs and tokeniation

NFTs or “Non-Fungible Tokens” - despite the name which may confuse a layman - are a basic concept. They are unique tokens with their own unique attributes. This allows you to create digital art, human readable names for your ETH address (see ENS names and unstoppable domains), breedable virtual collectible creatures like crypto kitties, ownable in game assets like Gods Unchained cards or best of all in my opinion, tokenised ownership of real world assets which can even be split into pieces (this doesn’t necessarily require an NFT. Fungible tokens can be/are used for some of the following use cases). This could be tokenised ownership of real estate (see RealT), tokenised ownership of stocks, bonds and other financial assets (which by the way makes them tradable 24/7 and divisible unlike through the traditional system) or even tokenised ownership of the future income of a celebrity or athlete (see when NBA Star Spencer Dinwiddie Tokenized His Own NBA Contract.

Institutional Adoption

Ethereum is by far the most widely adopted blockchain by enterprises. Ethereum’s Enterprise Ethereum Alliance (EEA) is the largest blockchain-enterprise partnership program and Ethereum is by far the most frequently leveraged blockchain for proof of concepts and innovation in the blockchain space by enterprises. Meanwhile, there are protocols like the Baseline protocol which is a shared framework which allows enterprises to use Ethereum as a common frame of reference and a base settlement layer without having to give up privacy when settling on the public Ethereum mainnet. This framework makes adopting Ethereum much easier for other enterprises.

Institutional Investment

One of Bitcoin’s biggest things it has going for it right now is the growing institutional investment. In case you were wondering, Ethereum has this too! Grayscale offers investment in the cryptocurrency space for financial institutions and their Ethereum fund has already locked up more than 2% of the total supply of ETH. Not only this, but as businesses transact on Ethereum and better understand it, not only will they buy up ETH to pay for their transactions, but they will also realise that much like Bitcoin, Ethereum is a scarce asset. Better yet, a scarce asset which offers yield. As a result, I expect to see companies having ETH holdings become the norm just like how Bitcoin is becoming more widespread on companies’ balance sheets.

The state of global markets

With asset prices in almost every asset class at or near all-time highs and interest rates lower than ever and even negative in some cases, there really aren’t many good opportunities in the traditional financial system right now. Enter crypto - clearly the next evolution of financial services (as I explained in the section on DeFi earlier in this post), with scarce assets built in at the protocol layer, buying BTC or ETH is a lot like buying shares in TCP/IP in 1990 (that is if the underlying protocols of the internet could be invested in which they couldn’t). Best of all, major cryptos are down from their all-time highs anywhere between 35% for BTC or 70% for ETH and much more for many altcoins. This means that they can significantly appreciate in value before entering uncharted, speculative bubble territory.
While of course we could fall dramatically at any moment in the current macro financial conditions, as a longer term play, crypto is very alluring. The existing financial system has shown that it is in dire need of replacing and the potential replacement has started rearing its head in the form of crypto and DeFi.

Improvements in user onboarding and abstracting away complexity

Ethereum has started making huge leaps forward in terms of usability for the end user. We now have ENS names and unstoppable domains which allow you to send ETH to yournamehere.ETH or TrickyTroll.crypto (I don’t actually have that domain, that’s just an example). No longer do you have to check every character of your ugly hexadecimal 0x43AB96D… ETH address to ensure you’re sending your ETH to the right person. We also have smart contract wallets like Argent wallet or the Gnosis safe. These allow for users to access their wallets and interact with DeFi self-custodially from an app on their phone without having to record a private key or recovery phrase. Instead, they offer social recovery and their UI is straight forward enough for anyone who uses a smart phone to understand. Finally, for the more experienced users, DApps like Uniswap have pretty, super easy to use graphical user interfaces and can be used by anyone who knows how to run and use a browser extension like Metamask.

The lack of an obvious #1 ETH killer

One of Ethereum’s biggest threats is for it to be overthrown by a so-called “Ethereum killer” blockchain which claims to do everything Ethereum can do and sometimes more. While there are competitors which are each formidable to a certain extent such as Polkadot, Cardano and EOS, each have their own weaknesses. For example, Polkadot and Cardano are not fully operational yet and EOS is much more centralised than Ethereum. As a result, none of these competitors have any significant network effects just yet relative to the behemoth which is Ethereum. This doesn’t mean that these projects aren’t a threat. In fact, I am sure that projects like Polkadot (which is more focused on complimenting Ethereum than killing it) will take a slice out of Ethereum’s pie. However, I am still very confident that Ethereum will remain on top due to the lack of a clear number 2 smart contract platform. Since none of these ETH killers stands out as the second place smart contract platform, it makes it much harder for one project to create a network effect which even begins to threaten Ethereum’s dominance. This leads me onto my next reason - network effects.

Network effects

This is another topic which I made a previous post on. The network effect is why Bitcoin is still the number one cryptocurrency and by such a long way. Bitcoin is not the most technologically advanced cryptocurrency. However, it has the most widespread name recognition and the most adoption in most metrics (ETH beats in in some metrics these days). The network effect is also why most people use Zoom and Facebook messengeWhatsApp despite the existence of free, private, end to end encrypted alternatives which have all the same features (https://meet.jit.si/ for zoom alternative and Signal for the private messenger app. I highly recommend both. Let’s get their network effects going!). It is the same for Bitcoin. People don’t want to have to learn about or set up a wallet for alternative options. People like what is familiar and what other people use. Nobody wants to be “that guy” who makes you download yet another app and account you have to remember the password/private key for. In the same way, Enterprises don’t want to have to create a bridge between their existing systems and a dozen different blockchains. Developers don’t want to have to create DeFi money legos from scratch on a new chain if they can just plug in to existing services like Uniswap. Likewise, users don’t want to have to download another browser extension to use DApps on another chain if they already use Ethereum. I know personally I have refrained from investing in altcoins because I would have to install another app on my hardware wallet or remember another recovery phrase.
Overthrowing Ethereum’s network effect is one hell of a big task these days. Time is running out for the ETH killers.

Ethereum is the most decentralised and provably neutral smart contract platform

Ethereum is also arguably the most decentralised and provably neutral smart contract platform (except for maybe Ethereum Classic on the neutrality part). Unlike some smart contract platforms, you can’t round up everyone at the Ethereum Foundation or any select group of people and expect to be able to stop the network. Not only this, but the Ethereum foundation doesn’t have the ability to print more ETH or push through changes as they wish like some people would lead you on to believe. The community would reject detrimental EIPs and hard fork. Ever since the DAO hack, the Ethereum community has made it clear that it will not accept EIPs which attempt to roll back the chain even to recover hacked funds (see EIP-999).
Even if governments around the world wanted to censor the Ethereum blockchain, under ETH 2.0’s proof of stake, it would be incredibly costly and would require a double digit percentage of the total ETH supply, much of which would be slashed (meaning they would lose it) as punishment for running dishonest validator nodes. This means that unlike with proof of work where a 51% attacker can keep attacking the network, under proof of stake, an attacker can only perform the attack a couple of times before they lose all of their ETH. This makes attacks much less financially viable than it is on proof of work chains. Network security is much more than what I laid out above and I am far from an expert but the improved resistance to 51% attacks which PoS provides is significant.
Finally, with the US dollar looking like it will lose its reserve currency status and the existing wire transfer system being outdated, superpowers like China won’t want to use US systems and the US won’t want to use a Chinese system. Enter Ethereum, the provably neutral settlement layer where the USA and China don’t have to trust each other or each other’s banks because they can trust Ethereum. While it may sound like a long shot, it does make sense if Ethereum hits a multi-trillion dollar market cap that it is the most secure and neutral way to transfer value between these adversaries. Not to mention if much of the world’s commerce were to be settled in the same place - on Ethereum - then it would make sense for governments to settle on the same platform.

ETH distribution is decentralised

Thanks to over 5 years of proof of work - a system where miners have to sell newly minted ETH to pay for electricity costs - newly mined ETH has found its way into the hands of everyday people who buy ETH off miners selling on exchnages. As pointed out by u/AdamSC1 in his analysis of the top 10K ETH addresses (I highly recommend reading this if you haven’t already), the distribution of ETH is actually slightly more decentralised than Bitcoin with the top 10,000 ETH wallets holding 56.70% of ETH supply compared to the top 10,000 Bitcoin wallets which hold 57.44% of the Bitcoin supply. This decentralised distribution means that the introduction of staking won’t centralise ETH in the hands of a few wallets who could then control the network. This is an advantage for ETH which many proof of stake ETH killers will never have as they never used PoW to distribute funds widely throughout the community and these ETH killers often did funding rounds giving large numbers of tokens to VC investors.

The community

Finally, while I may be biased, I think that Ethereum has the friendliest community. Anecdotally, I find that the Ethereum developer community is full of forward thinking people who want to make the world a better place and build a better future, many of whom are altruistic and don’t always act in their best interests. Compare this to the much more conservative, “at least we’re safe while the world burns” attitude which many Bitcoiners have. I don’t want to generalise too much here as the Bitcoin community is great too and there are some wonderful people there. But the difference is clear if you compare the daily discussion of Bitcoin to the incredibly helpful and welcoming daily discussion of EthFinance who will happily answer your noob questions without calling you an idiot and telling you to do you own research (there are plenty more examples in any of the daily threads). Or the very helpful folks over at EthStaker who will go out of their way to help you set up an ETH 2.0 staking node on the testnets (Shoutout to u/superphiz who does a lot of work over in that sub!). Don’t believe me? Head over to those subs and see for yourself.
Please don’t hate on me if you disagree about which project has the best community, it is just my very biased personal opinion and I respect your opinion if you disagree! :)

TL;DR:

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[uncensored-r/Bitcoin] (Update) Transaction stuck on blockchain for days, would appreciate some help!

The following post by WThirteen is being replicated because the post has been silently removed and some comments within it have been silently removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ Bitcoin/comments/7l8rgt
The original post's content was as follows:
Link to original post: https://www.reddit.com/Bitcoin/comments/7kw5ic/been_waiting_for_35_hours_for_a_transfer_between/
It's been almost 2 days since my post, and I'm looking forward to getting my funds ASAP. Really need the money for some trades and I'll appreciate any help if someone can point me a direction of how I can get my funds unstuck from the blockchain!
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

(Update) Transaction stuck on blockchain for days, would appreciate some help! /r/Bitcoin

(Update) Transaction stuck on blockchain for days, would appreciate some help! /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

META 1 / META 1 Coin. Market Appreciation Variable Part 3 #crypto #blockchain #finance #world #news META 1 / META 1 Coin. Market Appreciation Variables. Part 6 #crypto #blockchain #finance #news META 1 / META 1 Coin. Market Appreciation Variable. Part 4 #crypto #blockchain #finance #world #news 04/03 Bitcoin's Price Appreciation Revealed Breaking ... Market Appreciation Variable. Part 3 #crypto #blockchain #money

Bitcoin has had a rollercoaster year amid the COVID-19 pandemic market disruption but has ultimately persevered adding over 40% to its price and now exceeds $200 billion in market capitalization.. The Bitcoin price sat at around $7,000 per Bitcoin token at the beginning of 2020, before crashing to under $4,000 on Black Thursday in March. The Bitcoin price has since rebounded to and sits at ... The total transfer volume of Bitcoin to exchanges has decreased dramatically over the past three days. Analysts see this as a sign that investors think “rapid price appreciation is ahead.” Bitcoin has undergone a strong rally over the past few weeks, rallying as high as $13,350. In response to ... Bitcoin “crashes” from $1k to $200, “blockchain not bitcoin” emerges (2014–2016) Bitcoin skeptics feel vindicated by the price decline: “See, tulips, I told you”, “now that Silk ... Bloomberg Report Bets on Bitcoin Price Appreciation as US Bank Regulator Seeks Public Comment on Crypto, Blockchain Jun 5, 2020, 16:48 by Olusegun Ogundeji by in Bitcoin 0 0 611 Something has to go really wrong for Bitcoin not to appreciate to a point of doubling its current US dollar value ($9,780 as at this writing) by the end of 2020, the June 2020 edition of the Bloomberg Galaxy Crypto ... This article will be a rough introduction to Bitcoin, blockchain technology, and Bitcoin mining. I never really got deep into understanding about cryptocurrencies, but a friend recently wanted to apply it towards his job and asked me about it. Naturally, I got curious and wanted to share my findings with all of you. Bitcoin. Bitcoin is computerized cash. This impl i es it exists just as an ...

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META 1 / META 1 Coin. Market Appreciation Variable Part 3 #crypto #blockchain #finance #world #news

If you bought R100 worth of BTC in 2010... you would have got 100 BTC... today that 100BTC would be worth 3 million Rand. THREE MILLION RAND FROM ONLY ONE HUNDRED RAND!!! And the penny drops. Coin Appreciation Variable. Part 2 (2/6) _ ️META 1 will assign assets to META 1 Coin to “backfill” the appreciation of the market so that META 1 Coin will have assets to support any long ... Market Appreciation Variable. Part 3. (3/6) _ 🧐All aspects of the META 1 Coin are performed by using Smart Contracts on a blockchain and Market Witnesses. Market Appreciation Variables. Part 6 (6/6) _ ️Market Witnesses are needed in the META 1 Coin to continually evaluate settlement values of “like” assets, bonds, and market indices. Market Appreciation Variable. Part 4 (4/6) _ ️This action is achievable by letting the network itself implement all Smart Contracts in the blockchain, which is responsible for securing the ...

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