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Crypto-Powered - The Most Promising Use-Cases of Decentralized Finance (DeFi)

Crypto-Powered - The Most Promising Use-Cases of Decentralized Finance (DeFi)
A whirlwind tour of Defi, paying close attention to protocols that we’re leveraging at Genesis Block.
https://reddit.com/link/hrrt21/video/cvjh5rrh12b51/player
This is the third post of Crypto-Powered — a new series that examines what it means for Genesis Block to be a digital bank that’s powered by crypto, blockchain, and decentralized protocols.
Last week we explored how building on legacy finance is a fool’s errand. The future of money belongs to those who build with crypto and blockchain at their core. We also started down the crypto rabbit hole, introducing Bitcoin, Ethereum, and DeFi (decentralized finance). That post is required reading if you hope to glean any value from the rest of this series.
97% of all activity on Ethereum in the last quarter has been DeFi-related. The total value sitting inside DeFi protocols is roughly $2B — double what it was a month ago. The explosive growth cannot be ignored. All signs suggest that Ethereum & DeFi are a Match Made in Heaven, and both on their way to finding strong product/market fit.
So in this post, we’re doing a whirlwind tour of DeFi. We look at specific examples and use-cases already in the wild and seeing strong growth. And we pay close attention to protocols that Genesis Block is integrating with. Alright, let’s dive in.

Stablecoins

Stablecoins are exactly what they sound like: cryptocurrencies that are stable. They are not meant to be volatile (like Bitcoin). These assets attempt to peg their price to some external reference (eg. USD or Gold). A non-volatile crypto asset can be incredibly useful for things like merchant payments, cross-border transfers, or storing wealth — becoming your own bank but without the stress of constant price volatility.
There are major governments and central banks that are experimenting with or soon launching their own stablecoins like China with their digital yuan and the US Federal Reserve with their digital dollar. There are also major corporations working in this area like JP Morgan with their JPM Coin, and of course Facebook with their Libra Project.
Stablecoin activity has grown 800% in the last year, with $290B of transaction volume (funds moving on-chain).
The most popular USD-pegged stablecoins include:
  1. Tether ($10B): It’s especially popular in Asia. It’s backed by USD in a bank account. But given their lack of transparency and past controversies, they generally aren’t trusted as much in the West.
  2. USDC ($1B): This is the most reputable USD-backed stablecoin, at least in the West. It was created by Coinbase & Circle, both well-regarded crypto companies. They’ve been very open and transparent with their audits and bank records.
  3. DAI ($189M): This is backed by other crypto assets — not USD in a bank account. This was arguably the first true DeFi protocol. The big benefit is that it’s more decentralized — it’s not controlled by any single organization. The downside is that the assets backing it can be volatile crypto assets (though it has mechanisms in place to mitigate that risk).
Other notable USD-backed stablecoins include PAX, TrueUSD, Binance USD, and Gemini Dollar.
tablecoins are playing an increasingly important role in the world of DeFi. In a way, they serve as common pipes & bridges between the various protocols.
https://preview.redd.it/v9ki2qro12b51.png?width=700&format=png&auto=webp&s=dbf591b122fc4b3d83b381389145b88e2505b51d

Lending & Borrowing

Three of the top five DeFi protocols relate to lending & borrowing. These popular lending protocols look very similar to traditional money markets. Users who want to earn interest/yield can deposit (lend) their funds into a pool of liquidity. Because it behaves similarly to traditional money markets, their funds are not locked, they can withdraw at any time. It’s highly liquid.
Borrowers can tap into this pool of liquidity and take out loans. Interest rates depend on the utilization rate of the pool — how much of the deposits in the pool have already been borrowed. Supply & demand. Thus, interest rates are variable and borrowers can pay their loans back at any time.
So, who decides how much a borrower can take? What’s the process like? Are there credit checks? How is credit-worthiness determined?
These protocols are decentralized, borderless, permissionless. The people participating in these markets are from all over the world. There is no simple way to verify identity or check credit history. So none of that happens.
Credit-worthiness is determined simply by how much crypto collateral the borrower puts into the protocol. For example, if a user wants to borrow $5k of USDC, then they’ll need to deposit $10k of BTC or ETH. The exact amount of collateral depends on the rules of the protocol — usually the more liquid the collateral asset, the more borrowing power the user can receive.
The most prominent lending protocols include Compound, Aave, Maker, and Atomic Loans. Recently, Compound has seen meteoric growth with the introduction of their COMP token — a token used to incentivize and reward participants of the protocol. There’s almost $1B in outstanding debt in the Compound protocol. Mainframe is also working on an exciting protocol in this area and the latest iteration of their white paper should be coming out soon.
There is very little economic risk to these protocols because all loans are overcollateralized.
I repeat, all loans are overcollateralized. If the value of the collateral depreciates significantly due to price volatility, there are sophisticated liquidation systems to ensure the loan always gets paid back.
https://preview.redd.it/rru5fykv12b51.png?width=700&format=png&auto=webp&s=620679dd84fca098a042051c7e7e1697be8dd259

Investments

Buying, selling, and trading crypto assets is certainly one form of investing (though not for the faint of heart). But there are now DeFi protocols to facilitate making and managing traditional-style investments.
Through DeFi, you can invest in Gold. You can invest in stocks like Amazon and Apple. You can short Tesla. You can access the S&P 500. This is done through crypto-based synthetics — which gives users exposure to assets without needing to hold or own the underlying asset. This is all possible with protocols like UMA, Synthetix, or Market protocol.
Maybe your style of investing is more passive. With PoolTogether , you can participate in a no-loss lottery.
Maybe you’re an advanced trader and want to trade options or futures. You can do that with DeFi protocols like Convexity, Futureswap, and dYdX. Maybe you live on the wild side and trade on margin or leverage, you can do that with protocols like Fulcrum, Nuo, and DDEX. Or maybe you’re a degenerate gambler and want to bet against Trump in the upcoming election, you can do that on Augur.
And there are plenty of DeFi protocols to help with crypto investing. You could use Set Protocol if you need automated trading strategies. You could use Melonport if you’re an asset manager. You could use Balancer to automatically rebalance your portfolio.
With as little as $1, people all over the world can have access to the same investment opportunities and tools that used to be reserved for only the wealthy, or those lucky enough to be born in the right country.
You can start to imagine how services like Etrade, TD Ameritrade, Schwab, and even Robinhood could be massively disrupted by a crypto-native company that builds with these types of protocols at their foundation.
https://preview.redd.it/agco8msx12b51.png?width=700&format=png&auto=webp&s=3bbb595f9ecc84758d276dbf82bc5ddd9e329ff8

Insurance

As mentioned in our previous post, there are near-infinite applications one can build on Ethereum. As a result, sometimes the code doesn’t work as expected. Bugs get through, it breaks. We’re still early in our industry. The tools, frameworks, and best practices are all still being established. Things can go wrong.
Sometimes the application just gets in a weird or bad state where funds can’t be recovered — like with what happened with Parity where $280M got frozen (yes, I lost some money in that). Sometimes, there are hackers who discover a vulnerability in the code and maliciously steal funds — like how dForce lost $25M a few months ago, or how The DAO lost $50M a few years ago. And sometimes the system works as designed, but the economic model behind it is flawed, so a clever user takes advantage of the system— like what recently happened with Balancer where they lost $500k.
There are a lot of risks when interacting with smart contracts and decentralized applications — especially for ones that haven’t stood the test of time. This is why insurance is such an important development in DeFi.
Insurance will be an essential component in helping this technology reach the masses.
Two protocols that are leading the way on DeFi insurance are Nexus Mutual and Opyn. Though they are both still just getting started, many people are already using them. And we’re excited to start working with them at Genesis Block.
https://preview.redd.it/wf1xvq3z12b51.png?width=700&format=png&auto=webp&s=70db1e9587f57d0c470a4f9f4523c216929e1876

Exchanges & Liquidity

Decentralized Exchanges (DEX) were one of the first and most developed categories in DeFi. A DEX allows a user to easily exchange one crypto asset for another crypto asset — but without needing to sign up for an account, verify identity, etc. It’s all via decentralized protocols.
Within the first 5 months of 2020, the top 7 DEX already achieved the 2019 trading volume. That was $2.5B. DeFi is fueling a lot of this growth.
https://preview.redd.it/1dwvq4e022b51.png?width=700&format=png&auto=webp&s=97a3d756f60239cd147031eb95fc2a981db55943
There are many different flavors of DEX. Some of the early ones included 0x, IDEX, and EtherDelta — all of which had a traditional order book model where buyers are matched with sellers.
Another flavor is the pooled liquidity approach where the price is determined algorithmically based on how much liquidity there is and how much the user wants to buy. This is known as an AMM (Automated Market Maker) — Uniswap and Bancor were early leaders here. Though lately, Balancer has seen incredible growth due mostly to their strong incentives for participation — similar to Compound.
There are some DEXs that are more specialized — for example, Curve and mStable focus mostly only stablecoins. Because of the proliferation of these decentralized exchanges, there are now aggregators that combine and connect the liquidity of many sources. Those include Kyber, Totle, 1Inch, and Dex.ag.
These decentralized exchanges are becoming more and more connected to DeFi because they provide an opportunity for yield and earning interest.
Users can earn passive income by supplying liquidity to these markets. It usually comes in the form of sharing transaction fee revenue (Uniswap) or token rewards (Balancer).
https://preview.redd.it/wrug6lg222b51.png?width=700&format=png&auto=webp&s=9c47a3f2e01426ca87d84b92c1e914db39ff773f

Payments

As it relates to making payments, much of the world is still stuck on plastic cards. We’re grateful to partner with Visa and launch the Genesis Block debit card… but we still don’t believe that's the future of payments. We see that as an important bridge between the past (legacy finance) and the future (crypto).
Our first post in this series shared more on why legacy finance is broken. We talked about the countless unnecessary middle-men on every card swipe (merchant, acquiring bank, processor, card network, issuing bank). We talked about the slow settlement times.
The future of payments will be much better. Yes, it’ll be from a mobile phone and the user experience will be similar to ApplePay (NFC) or WePay (QR Code).
But more importantly, the underlying assets being moved/exchanged will all be crypto — digital, permissionless, and open source.
Someone making a payment at the grocery store check-out line will be able to open up Genesis Block, use contactless tech or scan a QR code, and instantly pay for their goods. All using crypto. Likely a stablecoin. Settlement will be instant. All the middlemen getting their pound of flesh will be disintermediated. The merchant can make more and the user can spend less. Blockchain FTW!
Now let’s talk about a few projects working in this area. The xDai Burner Wallet experience was incredible at the ETHDenver event a few years ago, but that speed came at the expense of full decentralization (can it be censored or shut down?). Of course, Facebook’s Libra wants to become the new standard for global payments, but many are afraid to give Facebook that much control (newsflash: it isn’t very decentralized).
Bitcoin is decentralized… but it’s slow and volatile. There are strong projects like Lightning Network (Zap example) that are still trying to make it happen. Projects like Connext and OmiseGo are trying to help bring payments to Ethereum. The Flexa project is leveraging the gift card rails, which is a nice hack to leverage existing pipes. And if ETH 2.0 is as fast as they say it will be, then the future of payments could just be a stablecoin like DAI (a token on Ethereum).
In a way, being able to spend crypto on daily expenses is the holy grail of use-cases. It’s still early. It hasn’t yet been solved. But once we achieve this, then we can ultimately and finally say goodbye to the legacy banking & finance world. Employees can be paid in crypto. Employees can spend in crypto. It changes everything.
Legacy finance is hanging on by a thread, and it’s this use-case that they are still clinging to. Once solved, DeFi domination will be complete.
https://preview.redd.it/svft1ce422b51.png?width=700&format=png&auto=webp&s=9a6afc9e9339a3fec29ee2ae743c07c3042ea4ce

Impact on Genesis Block

At Genesis Block, we’re excited to leverage these protocols and take this incredible technology to the world. Many of these protocols are already deeply integrated with our product. In fact, many are essential. The masses won’t know (or care about) what Tether, USDC, or DAI is. They think in dollars, euros, pounds and pesos. So while the user sees their local currency in the app, the underlying technology is all leveraging stablecoins. It’s all on “crypto rails.”
https://preview.redd.it/jajzttr622b51.png?width=700&format=png&auto=webp&s=fcf55cea1216a1d2fcc3bf327858b009965f9bf8
When users deposit assets into their Genesis Block account, they expect to earn interest. They expect that money to grow. We leverage many of these low-risk lending/exchange DeFi protocols. We lend into decentralized money markets like Compound — where all loans are overcollateralized. Or we supply liquidity to AMM exchanges like Balancer. This allows us to earn interest and generate yield for our depositors. We’re the experts so our users don’t need to be.
We haven’t yet integrated with any of the insurance or investment protocols — but we certainly plan on it. Our infrastructure is built with blockchain technology at the heart and our system is extensible — we’re ready to add assets and protocols when we feel they are ready, safe, secure, and stable. Many of these protocols are still in the experimental phase. It’s still early.
At Genesis Block we’re excited to continue to be at the frontlines of this incredible, innovative, technological revolution called DeFi.
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None of these powerful DeFi protocols will be replacing Robinhood, SoFi, or Venmo anytime soon. They never will. They aren’t meant to! We’ve discussed this before, these are low-level protocols that need killer applications, like Genesis Block.
So now that we’ve gone a little deeper down the rabbit hole and we’ve done this whirlwind tour of DeFi, the natural next question is: why?
Why does any of it matter?
Most of these financial services that DeFi offers already exist in the real world. So why does it need to be on a blockchain? Why does it need to be decentralized? What new value is unlocked? Next post, we answer these important questions.
To look at more projects in DeFi, check out DeFi Prime, DeFi Pulse, or Consensys.
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Other Ways to Consume Today's Episode:
Follow our social channels:https://genesisblock.com/follow/
Download the app. We're a digital bank that's powered by crypto:https://genesisblock.com/download
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Crypto-Powered: Build on Legacy Finance, Prepare To Die

Crypto-Powered: Build on Legacy Finance, Prepare To Die
The success of today’s high-flying fintech unicorns will be short-lived as long as they’re building on legacy financial infrastructure.
https://reddit.com/link/hmw3sm/video/7sbwo5nh7g951/player
This is the first post of our Crypto-Powered series where we look at what it means for Genesis Block to be a digital bank that’s powered by crypto, blockchain, and decentralized protocols.
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Today we start a new series called Crypto-Powered. This will be similar to our last series, Spreading Crypto, but now we’re exploring a new theme. At Genesis Block, we’re building a digital bank that’s powered by crypto, blockchain technology, and decentralized protocols. Yes, lots of buzzwords.
What does any of it mean? How does it give us an unfair advantage? What superpowers are unlocked? What are the benefits for users?
In this series, we’ll answer all of these questions. Grab some popcorn. Sit down. Put your feet up. Make yourself comfortable. Let us take you on a journey. Let us be your tour guide down the crypto rabbit hole…
But hold on! Pump those brakes. Before we dive into the crypto rabbit hole, we need to establish some context. We can’t talk about the future of money unless we first understand the problems of money today. We need to understand what’s broken with legacy finance. So let’s do a quick primer on the current state of finance. That will set the stage for the rest of the series. Alright, let’s go.

Fintech & Unbundling

Over the last decade, legacy financial institutions (banks in particular) haven’t been meeting the needs of younger, more digital generations. As a result, fintech startups have emerged and effectively unbundled the consumer banking stack. Whether it was Robinhood for investing, TransferWise for cross-border payments, SoFi for student loans, Wealthfront for wealth management, or Digit for saving… these innovative upstarts all focused on a single use-case and nailed it.
https://preview.redd.it/iwrpg6ek7g951.png?width=800&format=png&auto=webp&s=7648d28955ea4e12795826dc78cdf70d41ffaef1
While great for a period, this led to a lot of fragmentation. Users needed to split their finances across many different services and keep track of what money was where. The cognitive load for many users became overwhelming.

Re-bundling of Finance

As we’ve seen in other industries (eg. media/entertainment), the pendulum swings back to bundled services (Cable TV → Individual Digital Channel Subscriptions → YoutubeTV/Hulu/Disney+), but in a better, more valuable, digital experience for end-users.
https://preview.redd.it/lbmz9gdm7g951.png?width=1200&format=png&auto=webp&s=877da74b64118566a8f630aed706ae1ba6b1ed0f
In the last few years, we’ve started to see a re-bundling of consumer finance. But instead of users going back to traditional banks, the rising generation is choosing to bank directly with these innovative, digital fintech companies.
Each of the startups mentioned above is now offering a more bundled experience with checkings accounts, debit cards, and other financial services. In Europe, we’ve seen the enormous rise of neo/challenger banks like Revolut, Monzo, N26 — all-in-one solutions for modern, consumer finance. That trend is starting to grow in North America with apps like Chime (the original was Simple)
We believe this bundled approach is here to stay — especially for the younger, more mobile, digital generation. They prefer convenient, easy-to-use, all-in-one solutions that require little effort & minimum commitment.
https://preview.redd.it/ko085lp18g951.png?width=800&format=png&auto=webp&s=8ae7e6b87a2a41257fd4816faf60a0bb702c5896

Building on Legacy Finance

While many of these high-flying fintech unicorns have seen incredible success, I believe it will be short-lived as long as they’re building on legacy financial infrastructure. It’s a realization I’ve come to only recently.
In years past, whenever I met a fintech entrepreneur, they’d always suggest that they’d never do a startup in traditional finance again. Too complex. Too expensive. Too slow. I always shrugged it off. Wimps. How hard can it be?
I really didn’t believe or understand that pain until we started Genesis Block. And it wasn’t until we began integrating with some of our partners (Evolve Bank & Trust, I2C, Visa, etc) that I really started to understand.
https://reddit.com/link/hmw3sm/video/vei2flrq7g951/player
The rumors are true. Those fintech entrepreneurs were all right. The pain is real.
Trying to innovate in legacy finance is like running on a hamster wheel blindfolded while powerful, evil rats randomly throw explosives inside.
It feels like you are never making any progress and at any moment you can be destroyed. Luckily at Genesis Block, we’re only integrating with legacy finance at the edges — the onramps and offramps (money in, money out). We’ve worked with great partners and so far have been able to navigate the treacherous terrain.

Legacy Finance is Broken

You must be wondering why and how is it so bad. It’s all the things you’d expect…
The antiquated tech stack of financial institutions. The frustrating process of working with big, bureaucratic, slow-moving organizations. The prehistoric payment systems that haven’t improved in decades (for example, ACH payments and their strange batch processing practices). The countless unnecessary middle-men on every card swipe (merchant, acquiring bank, processor, card network, issuing bank). The slow settlement times. Systems rife with fraud. An industry oozing with predatory practices and unethical behavior. The moth-eaten laws & regulations that are NOT innovator-friendly (mostly due to powerful Wall Street incumbents who control politicians).
https://reddit.com/link/hmw3sm/video/2hdxxch38g951/player
The list goes on and on. Maybe someday we can dedicate an entire series to it. It’ll be a good bedtime story.
The more familiar I become with how legacy finance works, the more convinced I am that the future of money cannot be built on that foundation.
The fintech darlings of Silicon Valley are all building on extremely shaky ground that is ripe for massive disruption.
They will spend so much time looking backward (integration, compatibility, regulation) that they will have very little time to look forward (innovation, progress, disruption). They will be tangled in the quagmire of archaic tech and the tentacles of outdated regulation.
I don’t believe the ultimate winners in consumer finance will come from the current cohort of fintech unicorns. And that’s because these companies are all building on the pipes of legacy finance.

The Future of Money

The future of money will be built on a foundation that is digital, open-source, permissionless, and decentralized. The future of money will have no borders or middle-men. The future of money will have no institutions or governments controlling or censoring it.
The future of money will be built on blockchain technology. The future of money will be built on “crypto rails.” The future of money is crypto. It’s the missing piece of the internet age — and quite frankly, long overdue.
This is an entirely new paradigm. New infrastructure. New pipes.
https://reddit.com/link/hmw3sm/video/26tjp8vn8g951/player
While blockchain technology provides a strong base, this tech alone won’t be sufficient. As discussed in our last series (Spreading Crypto), these powerful protocols need killer applications to reach broader adoption. The apps need to be simple, convenient, and require no blockchain education. They need to fit nicely within existing workflows and behaviors. A digital bank like Genesis Block is a perfect app to propel crypto to the masses.
At Genesis Block, that’s the foundation we’re building on — a powerful combination of the underlying technology and our unique approach in how it’s delivered.
The future of consumer finance belongs to those who build with blockchain technology & decentralized protocols at its core, and know how to best take it to the billions of people around the world.
That’s our thesis at Genesis Block. Our last series went deep on how the tech reaches and touches end-users. This new series is all about what’s under the hood — crypto & blockchain — and how that gives us an unfair advantage in the world of consumer finance.

Clone Wars

While some fintech products are giving users the ability to buy & hold crypto (Robinhood, Revolut, Cash App), they aren’t leveraging the technology beyond that. And they most certainly aren’t building their infrastructure around it.
So let’s ask the dumb VC question that some of you are thinking: what if these fintech companies or big banks just copy what we’re doing at Genesis Block? What if they add blockchain and crypto?
https://reddit.com/link/hmw3sm/video/c0je9dvx8g951/player
Sorry, you can’t just “add crypto” as if a pizza topping in a Doordash order. That’s not how it works. I mean, you can say you are doing that, but it’s not real. That’s just Innovation Theater.
The systems behind banks and fintech are deeply integrated with legacy financial rails. Trying to retroactively add blockchain in any meaningful way would be like trying to make a 2020 Lambo with a 1910 Ford Model T engine. No matter how talented their engineers are, it just ain’t gonna happen. Not unless they burn it all down and start over. Massive risks. A classic case of Innovator’s Dilemma. Will anyone have the courage? I don’t know. I think they are much more likely to acquire someone like Genesis Block than gamble their entire business on it. But we aren’t cheap.
These new, decentralized protocols are complex, fast-moving, and full of snags. Our team has been in this space for many years — we understand the security tradeoffs, the protocol nuances (we spent a lot of time actually building them), and enough self-awareness to know what we don’t know.
Our team at Genesis Block can run circles around traditional banks and fintech companies. Certainly, they have large audiences and strong balance sheets — which can’t be underestimated. But when it comes to unlocking the enormous, new value to users, as long as the incumbents are building on legacy financial infrastructure, they simply cannot compete with us.

Crypto-Powered

The empires created in the 21st-century world of finance will be crypto-native companies that deeply understand decentralized tech and know how best to leverage it. It will be the teams who build on “crypto rails” first, with bridges back to legacy finance second.
That’s our thesis at Genesis Block. In this series, we intend to lay out a convincing argument for why that’s true.
So now that the stage is set and we’ve introduced the series, I think you’re ready to start learning why blockchain technology is our superpower, our unfair advantage.
You are ready to dive into that crypto rabbit hole.
But first, a word of caution. Once you go in, you may never want to come out. It’s what happened to me and so many others.
Once you see the potential & promise of this incredible technology, you won’t be able to ignore it. You won’t stop thinking about it. It’ll capture your imagination like few other things can.
Don’t be afraid of it. Let it take you.
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Other Ways to Consume Today's Episode:
We have a lot more content coming. Be sure to follow our channels: https://genesisblock.com/follow/
Have you already downloaded the app? We're Genesis Block, a new digital bank that's powered by crypto & decentralized protocols. The app is live in the App Store (iOS & Android). Get the link to download at https://genesisblock.com/download
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NANO weekend summary (14)

May 12, 2018
This is the follow-up on https://www.reddit.com/nanocurrency/comments/8hnoak/nano_weekend_summary_13_the_real_one
  • WARNING: STAY AWAY FROM ANY FREE ETH SCAM on Twitter!
And now, before we go to our live cam, let's please switch to our foreign correspondent Beto Silver in Brasil. Beto, you cover NANO in Latin America's biggest country, reaching out to over 208 million people. How has NANO been doing over there this week? Please give us your weekly report:
Info.Nano #66 - Port/Brazilian, https://medium.com/@betosilveinfo-nano-66-a2b1dc9cfd32
Thank you very much, Beto!
And now, in order to fully grasp NANO's current status after this eventful week we are turning to the live broadcast coming in from our RNN
Have a joyful weekend, everyone!
submitted by Koba7 to nanocurrency [link] [comments]

Blockchain week report: Demo day

Notes taken on phone today. Was tired from lack of sleep, so was a little grumpy in my analysis.
previous days
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Event happenings
I was able to get my hands on one of the coveted "Hard fork café" tshirts. Victor Lysenko from Acronis had brought a collection of them along, and was handing them out to for free to special people. Awwww <3
http://imgur.com/34Fthkj
In the evening I was able to have dinner with Vitalik swoon He ended up ordering a selection of dishes on behalf of the table. He did a brilliant job and managed to do it in Mandarin. (Made me realise I need to step up my Mandarin lessons). http://imgur.com/D0pWga8 http://imgur.com/6ZsUaNN
There were quite a few presentations delivered in Chinese today. Live translation headsets were available. I was extremely impressed with the ladies doing the live translation, they were able to handle all the technical words and kept up very well with the demos. Apparently behind the scenes they had to train themselves up by reading blog posts and researching the topic so that they understood the technical jargon.
http://imgur.com/Fi1PFid
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Demo day sessions summary
Today was demo presentations to a panel of judges, who voted on and decided the winners at the end of the day. http://www.blockchainweek2016.org/
On the negative grumpy side, there were so many similar projects (identity, stablecoins, distributed loan platform). But their were HEAPS of projects revolving around them building their own Blockchain, but never saying why their particular one is better than the existing Blockchain solutions. They always talked of the benefits of the Blockchain for business in general, but never their particular one specifically.
However on the positive side, there were many great projects that made me sit up. The most interesting ones were projects like Weifund that leverage many other existing projects on the blockchain. Interestingly there were 17 projects that were building directly on top of the existing Ethereum Blockchain technology (both public & private) and leveraging the network effects. But strangely I didn't see any projects building on any other existing Blockchains such as BTC or Hyperledger (beside the 2 presentations by IBM pre-demo).
Vitalik's comment near the end of the day summed it up well for me. A lot of the demos are creating projects that aren't really leveraging the Blockchain, and aren't better than the traditional version. A lot of the solutions are also still centralized, and rely on a single company. Don't try and create your project as a standalone solution. This is especially true with the many many identity services that are being created as new silos. Try and build something decentralised that can outlive a company and can grow.
Uport was 1st prize. Other winners were weifund, Cosmos and others I didn't catch. I unfortunately missed uPort as I was late coming back in after the break :-(
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Keynotes
Keynote - IBM Hyperledger Very very high level information. Blockchain is useful. The value of a network grows exponentially with each new node Generic slides showing "Blockchain allows people to interact via the Blockchain". He said that "Companies in Silicon valley are trying Ethereum and then moving to Hyperledger in droves", sounds a bit farfetched to me (but i am biased)
Opening speech by Sinodata Blockchain is important for the future of business. Sinodata are building things for b2b & b2c No details. Other companies are looking into 1.0 & 2.0, but they are more advanced. They are willing to share their vast experience in blockchain with other blockchain companies. "We are the creator & users of blockchain."
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Demos
Funny anecdote. During the introduction of the judges, the MC introduces Vitalik and the crowd cheers loudly. Chinese MC: "Oh... the audience is very excited about this judge, he must be very important"
Ujo music
"Fair drm" Music consumption is at an all time high. If consumption is waaay up, how is it artists are still hardly earning enough to support themselves. Artists have lost control An artist has fragmented identities on Spotify, soundcloud, discography, beatport. Difficult to keep fans up to dates on tour days Fan remixes on soundcloud get pulled down due to copyright infringement. Ujo gives fans a way to pay directly to the artist Use Ujo as their kit / digital container, to be in charge of their identity Reach piece of content is marked with their digital ID, so it can be tied to artist. Can set policies on fair use and creative rights
Bestowit.global
Everything changes when someone dies. Difficult time, need to find the will, usually paper based. If no will exists, then government decides. Difficult to know where to look for wills, no central place to look. Succesion law hasn't been updated in a long time, isn't up to date in a digital world. Created "living ledger". Wills on the ledger. Created a smart envelope, an iot device to put will inside and then seal and out on blockchain
Vechain
Unique ID on Blockchain Seems "to do everything": Id, lifecycle management, management portals. (no focus, which judges also commented on) Has a chip you can embed into anything to tag it. Can put on clothes or a bag, every article has a unique Id
My thought: For those that like to show off their money & brands, now why just buy your avatar digital clothes to show off on social media. Instead now you can buy a Chanel bag, then you can prove on social media that you own own to show off.
Decentralized capital
Summary: it is a stable coin They use DC capital to back tokens. Use assets to purchase and back tokens.
Bubi Blockchain (pronounced booby)
Summary: they built their own Blockchain Data sets data is centralized. You don't own your own data. Your data is being monetized by other companies. They provide Bass Blockchain as a Service.
Applications can use their Blockchain. Get data security. Finance. Etc etc Can do loyalty points, games, etc It is a Blockchain… They have 20k transactions a week "People should use our Blockchain. Will give you more opportunities and value"
DGX
A real stable coin Digital gold. 1 DGX = 1 gram of gold Each token is back by real gold in a vault, fully insured. The certificate of authenticity is put into IPFS Is ERC20 token compatible Introduction digix 2.0 Can log on and buy gold. Is implementing KYC (know your customer)
Me: I like it, I tried to join the pre-sale, but sold out instantly.
Cosmos (prize winner)
Http://cosmos.network http://tendermint.com A network of Blockchains (Cosmos hub). Securely communicate between the chains Uses Tendermint (which they built) Cosmos is a public Blockchain built on Tendermint. Could have a number of EVM based networks, then put a Cosmos hub in the middle to allow them to communicate with each other. Ethereum & Tendermint work well together.
DeVita
People waste lots of time trying to find answers on the Internet Post bounty for answers But bounties are posted on forums. How to enforce payment. They created a decentralized bounty system Can use the data of people who answer to create a CV "proof of expertise".
EtherLoan
Problems with centralized lending platforms, include hacking and high costs. Their solution connect distributed members with borrowers. Lenders can send funds to smart contact to participate in a loan. Borrower repays the loan, gets distributed to the lenders Borrower creates a new EtherLoan. Can customise the terms. If lenders like it, they fund it. Can negotiate the interest terms Is currently a PoC. Only supports simple loans with single repayment. Integration with unorthodox. Reputation system. Future : compound interest. Integration with credit score & risk management systems
Qtum https://qtum.org/ Yet another Blockchain? They built it on incentive PoS. Can bring regulators & government. They want compatibility with Bitcoin & Ethereum. Pluggable consensus. Public & permissioned Blockchain. Supports EVM. EVM 2.0 Can apparently do anything that any other chain can do because you just code it in. Support for oracles. Integrates with KYC/AML Can run zcash in here. "does everything"
Vitalik gave A LOT of feedback after the talk for it trying to do too much with no focus.
Benefactory
Like a next gen The DAO, but the funds are for non profits? Platform for distributed organisations. Pooling funds is hard Let individuals decide how to use their own funds Commonwealths are distributed non-profit organisations. What problems should you propose to solve to achieve a commonwealth objectives (and get funding)
Zhong Tou Bang
Lots of pollution and health issues in China Most Chinese people don't have health insurance Health insurance of on Blockchain Problems of privacy, how to protect it. User identity
Trusted key
Secure trusted identify Online id systems don't attest to a real world identify. Currently each online service (e.g. Airbnb) had their own verified user system which is not transferable. Using identity documents like drivers licence. Take photo of documents, take a selfish. Submit it. Once verified the proof is attached to identify. Can later provide proof the parts of the proof you want to share (name, age, gender Can then later cryptographically sign documents, like bank documents with your digital signature
Coral legacy
Creating a direct link from various to consumers. For wine. For $100 you can purchase a grape vine at a vineyard. You get the wine created from that vine. The vine is tokenism on the Blockchain. Your wine is in Blockchain, tied to your vine. Date, history, etc. Vine is $100. Administration is $10 / year. To make and record the wine is $30 / year
B8
https://eth-b8.com Location based Blockchain service Organiser can drop a prize anywhere (geocache ?) People gather around a prize, one enough people have gathered, prize is distributed. Encourage people to gather at a point for an event eg. Mall opening Simple command line, put geo coords, number of people required to trigger, and total amount of ETH to distribute. Can try and counter GPS spoofing by using GPS & beacons. While also tracking user to detect anomalies, like jumping from USA to China in 5 minutes
Judges (and attendees) were more interested in the anti-GPS spoofing technology, than their blockchain Dapp
BioT. Blockchain IoT
Like Slock.It IoT device with a light client that can connect to the Blockchain Can send ether to trigger the IoT device (like a vending machine, or smart meter). Can have a mobile SIM in it.
Weifund (prize winner)
Http://weifund.io Nick Dodson Make crowd funding an easy and simple thing to do. Decentralised kickstarter Crowdsales are not an easy thing to code yourself in a smart contact. They have put a lot of effort into security in their solution. They will have many types of campaigns, like presales. Supports many types of currencies. Is built fully decentralised, distributed via IPFS. Uses Metamask & uPort for identity
Fluent
Http://fluent.network Platform for financial operating network for global trade. Very enterprisey.
Token
http://token.im Chinese Blockchain startup Digital wallet, mobile app. "digital assets wallet" Light wallet. Looks very clean and slick. Trade tokens, use Dapps. Alipay app is popular here in China. They hope to be as popular for digital. Built a Ethfans & carbon vote integration
Token factory
http://thetokenfactory.com/ Create something that would allow people to experiment. Make easy to create and distribute your own token. Issue any token on any Ethereum network Simple wallet interface. Follows the token ERC20 standard Works with Metamask uPort Mist my ether wallet
Stabl Coin
http://stabl.money Literally just another stable coin
Alta apps
Another Blockchain with their own platform
Hyperchain
Another Blockchain Other Blockchains take too long to confirm. Bitcoin can take an hour Theirs is better because of lower block time
ANX international
Abs Blockchain services. Provide Blockchain services. Have their own platform. Provide a white labelling service of wallets, tokens
submitted by DavidBurela to ethereum [link] [comments]

Truth about Ethereum is being banned at Bitcointalk

I have been making factual posts about Ethereum (and Synereo) and all the following posts have been deleted by the moderators and they have banned my username for making factual posts about Ethereum.
A reply of yours, quoted below, was deleted by a Bitcoin Forum moderator. Posts are most frequently deleted because they are off-topic, though they can also be deleted for other reasons. In the future, please avoid posting things that need to be deleted.
Quote
Quote from: damn_the_truth on Today at 05:06:30 AM TPTB_need_war was banned for 3 days for writing in big red letters that "Ethereum is broken and can't be fixed" and proceeded to defend this point factually.
And so the mods have now demonstrated they are involved in the pump of Ethereum.
So much for the objectivity of this forum.
They allow excessive trolling and scams no problem though.
Note TPTB_need_war posted the same statement about ETH in three threads, because suddenly 5 or 6 new threads all about pumping Ethereum appeared today. If the pumpers can make three threads, then why can't they all be rebutted? They can spam, but the opposing opinion and facts can't be. As if the opposition is the spammer but spamming the Altcoin Discussion with a proliferation of Ethereum pump threads is not spamming. Roll Eyes
The thread that in particular incited me to post so forcefully in opposition is the one that as a title implying if Ethereum will go challenge Bitcoin's market cap. That is clearly manipulative of the readers inducing them into a mania based on some totally implausible proposition. How can a broken block chain design that hasn't solved the most fundamental issue pertaining to verification and scaling of long-running scripts have any chance of challenging Bitcoin's market cap. Ridiculous.
Someone may want to quote this, as surely the drunk mods will delete this and permanently ban ban_the_truth (and probably they will permanently ban TPTB_need_war).
Doesn't Theymos understand that you can never silence a person who knows he is just and correct. A person will fight to the death when they know truth is on their side. And will eventually win. Those who try to obscure truth will always eventually lose.
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Quote
Quote from: WilderX on Today at 08:36:10 AM y0 newbs, you talking about issues with mining? Did you know ETH goes POS this year?
Yo clueless n00b, do you not understand the PoS doesn't rectify the fundamental flaw in the economics of the verification of long running scripts that I explained upthread and for which I have been banned for trying to point out in the numerous threads pumping Ethereum that spammed the Altcoin Discussion forum today.
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Quote
Quote from: stoat on Today at 05:58:42 AM You still don't get it do you? The hype for ethereum is actually real. As in, it's our best hope. And people who actually want crypto to succeed as an idea will get behind it.
Oh because it is our only hope, then we have to ignore the fact that after more than a year since they took and spent ICO money, they still haven't solved the most fundamental issue of the block chain technology required for long running scripts (if they want scaling and decentralization).
Put Vitalik in a live debate with me right now and I will be able to force him to admit that is the truth.
Or ban_the_truth so you can sucker more n00bs into being bagholders to the insiders can cash out.
Quote from: stoat on Today at 05:58:42 AM Tptb want war, well, the entire time ive visited this forum he is either wasting everyones time with mental masturbation or simply stumbling from thread to thread FUDDing down every coin that would dare to challenge his "intellectual superiority".
Because you are not interested in actually solving the core technical challenges that inhibit cryptocurrency from scaling out to the masses and being compatible with marketing strategies that can do so, such as the one I will drop on the world.
All you want is something you can pump up. And you want it sooner than it is ready. And so thus you think I am not worthy, and you think the broken Ethereum is.
I never took $millions of ICO while I was researching and developing the solutions we need. Ethereum did and still didn't solve the most basic issue they need to.
Whereas I have solved the major fundamental issues. Sorry if the good stuff takes time. If you are in a rush, then feel free to give your money away to those who are willing to take it.
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Quote
Quote from: Elokane on January 25, 2016, 12:56:02 PM
Quote from: TPTB_need_war on January 24, 2016, 05:27:06 AM
Quote from: CoinHoarder on January 24, 2016, 03:28:48 AM I think social media can possibly be taken over by cryptocurrency/decentralized/blockchain technology. Think about it... Facebook has a market capitalization of 266.3 billion. What if a portion of their net profit was distributed to its users instead? Which service would you use... one that makes money off of you providing you nothing in return, or one that pays you to use its service? There are likely a few projects attempting to capitalize on this space. The only one off the top of my head I can name is Synereo and I am on the fence as to whether it is is a legit project or a P&D... I am waiting on the sidelines for now. http://www.synereo.com/
I will respond to the rest of your informative post later (as I need to go outside on this Sunday).
I think Synereo may be conceptually on the right track, in that ads should preferrably be content that users want to see. I can envision content providers being creative in how they advertise products within enjoyable content. The bottom line is the economics per my prior post in reply to TechorMarketing. There were one or two ads on Google that were so interesting to me, I wanted to save a copy of the video ad. Meaning the way to beat Google is by making the advertising more efficient, thus superior ROI for all participants (advertiser, content creator, and viewer). If the superior algorithms require decentralization and cutting out the middle man, then Google with all its technical prowess can do nothing to compete.
Spot on!
Quote I only scanned a portion of their white paper. I believe they may have Sybil attack problems in their attention model (thus being gamed and not having the result intended), but I can't yet judge that with any certainty as I need to study it more carefully.
You've given me something very intellectually deep to chomp on, so thank you. I love conceptual paradigm shifts and I like to analyze models. I will need more time on this.
Looks to me as though they are serious. The devil is in the details on their technical model. They have a brainy looking CSO mathematician, so perhaps some of the model theory is originating from him.
The attention model is mine. We've designed it carefully against Sybil attacks. If you think you've identified an attack vector, do let us know -- I'll give you with an AMP bounty for it.
Feel free to join our Slack channel at slack.synereo.com and chat with us there directly.
So you must be younger guy Dor who I've viewed in the Hangout videos in the Synereo channel on YouTube?
Quote from: Elokane on Today at 12:01:35 PM It is common knowledge that Greg, Synereo's CSO, is leading the design of Casper, Ethereum's new proposed Proof of Stake blockchain: https://blog.ethereum.org/2015/12/28/understanding-serenity-part-2-caspe He has spoken about the design principles of the technology underlying this effort, what would allow it to scale, in the recent Ethereum developer conference: https://www.youtube.com/watch?v=uzahKc_ukfM
Synereo is NOT building their technology on Ethereum. Rather, it is Ethereum who are using Greg's decades of expertise in the field, and Synereo technology, to build their own.
Ethereum has provided Synereo with developer grants for this purpose. Hopefully, collaboration will continue in other ways as well. We also believe that our notion of a "smart contract", which we call a social contract, is more advanced, mature and scalable than anyone else's. People in the industry are starting to get a sense of this as well, including our friends at Ethereum. http://blog.synereo.com/2015/03/06/social-contracts-pt-ii/
A comprehensive post going into detail about all of these subjects are in the works.
Feel free to ask any other question about this here or on our slack channel at slack.synereo.com.
And appears Greg is the greying long-haired mathematician in Seattle that I've viewed on the same videos.
I am doing an in depth study of your system and I am not yet ready to offer all my feedback because I am in the midst of analyzing it.
However I do want to start with a few observations.
First I want to thank you for providing those Hangout videos because I am gaining much information from listening to the feedbacks from the musicians. That has been very useful for my marketing research.
  1. Greg asks what can a decentralized Synereo do that centralized SoundCloud can't do, and Dor replies that the bandwidth (he said "distribution" but I assume he means download and streaming bandwidth) costs become free because they are provided by the users. Unfortunately this is incorrect. Decentralized filesystems will not work and are theft socialism (stealing from those who pay, to redistribute to those who didn't pay for it) models as I explained yesterday. For context, make sure you understand how I explained to Bittorrent in 2008 that their optimistic choking algorithm was a theft socialism model and was apparently ignored with the result now that we have government takeover of the internet underway via Net Neutrality. Note that Matt the owner of Ninja Tunes music company precisely nails this point later in the video and explains why distributed files systems can't handle legality. Furthermore, Matt astutely explains that copyright infringement can get Synereo in legal trouble and Greg retorts that decentralized systems can't be legally attacked, but what is forgetting is as I pointed out yesterday, that the Synereo system can be banned by Hosting providers (because they are culpable) and thus all files would need to be stored and served from users' computers which has severe issues I had explained.
  2. I will expend some time studying Casper's design, but I already watched some videos of Ethereum presentations about the strategy for shards and proofs against cheating in the attempt to achieve decentralized scaling with verification of long-running scripts. And I have explained why it will never work. I have an entire thread dedicated to discussing the finer issues with block chain consensus and the CAP theorem is fundamental. Essentially you can't use propagation as a consensus rule thus proofs against cheating will fail as methodology. You simply can't solve the Tragedy of the Commons verification problem without centralization. Period. You will eventually face come to this realization that your ideas are fundamentally flawed and can't be fixed.
  3. An attention model based upon users approvals is probably going to suffer from the same phenomenon I observed when I asked my gf why she was rapid clicking every Like on her timeline without even reading the posts. She said because they are my friends and will Like all my posts also. But I need to study your model in detail in the white paper before I can comment further on it.
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Quote
Quote from: tokeweed on Today at 09:55:40 AM I appreciate that you're trying to get your argument out. And you do have some points to think about. But this is a time of less talk and more trades. There's profit to be made in this current price run, which could be one of the largest runs we've seen in altcoins.
You can't speak for all readers, because you are not all readers.
Those of you who bought Ethereum at lower prices are in a different risk situation compared to those who are reading your pumping and considering whether to buy at these nosebleed levels.
I am not making any guesses about whether the price will go much higher or not (manias often do).
Rather I am providing balancing information for those readers who might think they can't lose because of some fundamental long-term value, which I assert does not exist because Ethereum hasn't solved the fundamental technological issue required to scale their system in terms of decentralized verification of long-running scripts. And in fact, they will not be able to solve this problem, not with Casper or anything else because it violates the CAP theorem.
The only solution will end up being centralization and then therefor those who are talking about building decentralized apps on top of Ethereum (e.g. this Synereo which I will be commenting on next) are apparently in technical delusion also. Btw, I have been watching the YouTubes of this Greg @ Synereo who I just read is claimed to be the lead dev on Casper, and I will be explaining that he doesn't seem to understand block chain consensus technology.
Stay tuned, this is going to get much more informative and interesting...
(sorry again that TPTB_need_war remains banned by drunken mods for 3 days so ban_the_truth must communicate interim)
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Quote
Quote from: Elokane on Today at 01:16:08 PM 2. Well, we think we have a solution! Would you like to take a look at the post Greg is writing on the subject? We'd value your direct feedback on it. This approach is different from the one Ethereum espoused before, and both Vitalik and Vlad are working with Greg to develop it now.
Will do after I finish watching the video.
Quote from: Elokane on Today at 01:16:08 PM 3. We have a mechanism taking into account a few parameters to make it so people who behave in exactly the way you describe have very little, if any, impact on this economy. Generally, we're looking for actions that have high entropy; if "B", your GF, is essentially a copy of "A", you, there's very little information there.
Is that specifically covered in the white paper or a design improvement hence?
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Quote
Quote from: Elokane on Today at 01:23:51 PM He's providing valuable constructive feedback, which we always welcome!
Thanks. Academics understand their life is finite and thus peer review in valuable so they don't waste time down a dead end.
A welcome change in tone compared to others who attack me relentlessly for trying to share/collaborate on research and analysis.
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Quote Another thought off the top of my head is where Greg explains why the bar of implementation is so much higher and Dor astutely points out that they are competing against very well entrenched and well vetted user interfaces (Facebook, etc).
I appreciate that honesty and I believe in separation-of-concerns, orthogonality, and modularity, because no only it provides more degrees-of-freedom, but it also means you don't have to necessarily implement everything yourself. It may be better to let others build those user interfaces for example from an API. But this is very complex to analyze because of the integration with the complexities of the attention model, etc..
I am just cautioning you that building all yourself, meaning you are limiting the network effects and making the scalability of the system (from the programming standpoint) funnel through your one organization.
I am thinking about a marketing strategy that is much more modular and encourages others to build on top of what my project would provide. But I am also thinking about how what I am contemplating is differentiated from what Synereo is proposing and whether there are collaborative opportunities or... (conclusions still not yet clear to me)
A reply of yours, quoted below, was deleted by a Bitcoin Forum moderator. Posts are most frequently deleted because they are off-topic, though they can also be deleted for other reasons. In the future, please avoid posting things that need to be deleted.
Quote I need to correct an error I made upthread. I stated that the reason payers would not pay for ASIC mining farm to compute the PoW share the payer must include with the transaction, would be because the PoW share could be computed locally faster than the latency for a round-trip network request for the PoW share generated on the lowest cost ASIC mining farm. And I stated that this was because the payer would sign the PoW share, so the "provider" receiving the transaction (with the attached PoW share) would not be be able instead compute the PoW share for the payer (without the round-trip latency delay). I had stated this was a difference from Iota's design which can't allow payers to sign PoW, because Iota's defense against certain attacks requires that anyone can recompute the PoW share and reattach a transaction to a different branch of the DAG.
That will not work in my design because the payer has to do a roundtrip request to request the current "intra-block chain" hash from a "provider" to include in the PoW share (otherwise the same PoW share could be submitted to multiple providers and thus payers have no vote in the LCR). Therefor the PoW share computation can be outsourced at no extra latency cost.
However on further analysis this does not entirely weaken the intent of my design to remain decentralized. The key is the power remains in the hands of the payers to choose which provider to submit their transaction to and thus can choose to route away from any malfeasance (since they are paying for the PoW share via a transaction fee to the provider). Although it means mining capital costs will be reimbursed (unlike in the case where the payers' computers would compute the PoW share then the non-payers mining capital costs would be unreimbursed given the block reward would be 0 or very small relative to the difficulty), mining equipment will not be wildly profitable as in the case for Bitcoin since the reimbursement is only for costs, thus still the point remains that mining equipment won't be well capitalized for making LONG-TERM 51% attacks on the protocol (even if forced to by regulation as could be the case in Bitcoin) because the payers can send their PoW share computation else where in a heart beat.
This also makes more sense because mobile users are not going to want to compute PoW shares and drain their battery.
One issue is a mining farm located next to a hydropower plant would maybe have (including better economy-of-scale capital costs on equipment) up to a 10X cost advantage over a provider server that is located any host any where.
Perhaps the latency to the mining farm could still be an issue (delay the transaction by another sub-second perhaps) and this could force providers to be located in the datacenters of mining farms to lower latency (which would be catastrophic to remaining decentralized since the choice of providers available to payers would be limited by such confining requirements). OTOH if the cost of the PoW is miniscule relative to the value of the transaction, then PoW share can be computed by a provider with up to 10X greater cost without impacting the payers decision which provider to choose. But remember also that the computation cost of the PoW share needs to be much greater than the validation cost of the transaction overall, but that should be doable since transaction verification is such a miniscule cost.
Again remember I suggested that payers' clients (wallet software) could be induced to move to other providers when a providers PoW share exceeds 5% or so.
Also it is not impossible to design the system such that payers are always listening for the current "intra-block chain" hash updates and so the original point of my latency design could remain. But this would require all payers to be receiving communications from the block chain network at all times, which would increase network load and there are Sybil attack and centralization issues about who pays for this (perhaps payers can pay a provider to provide this data feed). So it is not impossible to envision retaining my original design, but it seems to be workable only for desktops and not for wireless mobile.
If latency becomes the main issue for wireless mobile then telcoms may have the upper hand any way. So it seems that the key is to keep PoW shares small enough to be miniscule relative to typical microtransaction values yet large enough to be greater than the verification cost. Also PoW has to be large enough to prevent spam on the network (which is essentially saying significantly larger than the verification cost, since the storage cost will be assumed to be even lower than the verification cost but I need to run some calculations to confirm this intuition).
I am probably missing a few details in this quickly written post. The entire design could be explained more coherently in a white paper (hopefully forthcoming).
P.S. Note that Iota has the similar issues, and this aspect of Iota was not my main concern expressed upthread about Iota's ability to remain Consistent about double-spends and whether that will lead to divergence (chaos).
Note the above post was deleted by the mods, so I am reposting it. Someone may wish to quote the above technical discussion before some drunk mod goes "happy finger" again.
submitted by TPTB_need_war to ethtrader [link] [comments]

Tokes Platform - a digital currency platform, will be one of the first projects in the world to combine the technological advances of the blockchain and digital tokens with the cultural shift associated with the marijuana legalization

Happy New Year Weedstocks
My name is Jonathan and I'm part of a crypto startup based out of the Las Vegas area. As you all probably know this past November several states(including Nevada) passed recreational cannabis usage, but one of the biggest problem facing marijuana dispensaries is banking. I wanted to reach out to you all of you here from weedstocks let you know about our startup that can help solve the "unbankable" cash these dispensaries have by taking it to the blockchain! By using TOKES platform it'll be easier to keep track of all transactions for strict accounting purposes needed for the industry & it takes out the need and worry of having large amounts of cash fiat on the premises.
In essences the idea behind Tokes Platform is that we are looking to the blockchain to help tackle the unbankable fiat(legal by state, not federal govt) that all legal cannabis enterprises currently facing in the United States. This year alone within the first 10 MONTHS of 2016, Colorado processes somewhere around $1 BILLION dollars which could be assumed that a significant amount was stored in $Cash fiat, so we're talking about millions of dollars on site at any given time. With this being said you have a large number of robberies that occur from opportunist criminals to disgruntled employees.
But more than that, we’re also working to shift the paradigm of capital investment in the digital crypto asset space through what we consider to be an entirely unique model in this ecosystem.
The Tokes Platform & Cannabis Revolution project is planning to execute through two distinct initiatives:
  1. The Tokes Platform technology stack, which will be a mobile application serving as a portable wallet, dispensary locator, cannabis strain database, and wealth of information for cannabis enthusiasts. At the core of the technology stack is “tokes”, the digital currency, which facilitates legal transactions for customers and entrepreneurs in the marijuana industry. It will enable the commercial transition of capital out of physical fiat and onto a secure blockchain (issued on WAVES)
  2. The second key component, our true differentiator, is the development of a fully legal, tangible cannabis business operation that generates revenue, profits, and supports the efforts we’re undertaking on the technology front. We have several business concepts we’re prepared to develop and relationships with operators already in the industry. To my knowledge, this is the first time a project built on coin technology has proposed a legitimate business enterprise to help drive value beyond basic economic forces of supply and demand in token adoption.
I’ll stop there for now, but do also want to link a media pieces you might be interested in:
If anyone would like to discuss our project objectives in more detail. My team and I are based in Las Vegas, NV, so PST time zone. We will be answering any questions you may have, but we suggest you read our Bitcointalk announcment (https://bitcointalk.org/index.php?topic=1690035) or jump on slack and give us a ring
Like you in the early days of bitcoin, I truly believe that TOKES platform can be a vital solution to this industries biggest problem. I appreciate the time and hope to hear from you all soon!
-Tokes Team Jonathan https://twitter.com/TokesPlatform Join us on slack: https://tokes-slack.herokuapp.com/
submitted by J-TKS to weedstocks [link] [comments]

Suggested improvements to www.bitcoin.com/podcast

There are many great podcasts worth listening to at www.bitcoin.com/podcast. However, I recommend that the UI gets some improvements. Here are a few problems I've identified and some helpful suggestions:
Thanks for all the great work you do on these shows, just trying to help improve the message transmission.
submitted by cyber_numismatist to btc [link] [comments]

Subreddit Stats: Monero top posts from 2014-08-18 to 2017-03-29 08:26 PDT

Period: 954.25 days
Submissions Comments
Total 1000 25652
Rate (per day) 1.05 26.87
Unique Redditors 413 2261
Combined Score 48590 87137

Top Submitters' Top Submissions

  1. 3662 points, 63 submissions: dEBRUYNE_1
    1. Monero Core GUI Beta 1 Released (212 points, 135 comments)
    2. Monero v0.10.0 - Wolfram Warptangent - released! (Includes GUI update and how to update wallet) (192 points, 81 comments)
    3. Bitfinex to add Monero (XMUSD & XMBTC) (183 points, 74 comments)
    4. Monero v0.10.1 - Wolfram Warptangent - released! | Mandatory upgrade! (167 points, 62 comments)
    5. PSA: Users, (solo)miners, exchanges/merchants, and pool operators must be on v0.10.1 in advance of the hardfork otherwise you will get forked/booted off the network. Miners, please contact your pool operator to ask them if they have upgraded | Monero v0.10.1 released - mandatory upgrade! (139 points, 81 comments)
    6. Trezor has expressed interest in merging the Monero for Trezor software upstream (104 points, 29 comments)
    7. The minimum fee will decrease from 0.01 XMR per kB to 0.002 XMR per kB today! (97 points, 36 comments)
    8. General information for the upcoming hardforks (96 points, 50 comments)
    9. Monero v0.9.4 - Hydrogen Helix - released! (Updated to include missing DLLs) (91 points, 8 comments)
    10. Additional GUI Developer (Jaquee) - Community Feedback Required (80 points, 47 comments)
  2. 1371 points, 27 submissions: americanpegasus
    1. My wife got me a Monero birthday cake. 🍰 (135 points, 17 comments)
    2. Contest: I will pay 1000 Monero to anyone who can successfully leak the most significant and damning information regarding the organization known as Correct The Record. (125 points, 72 comments)
    3. One of the unfortunate side effects of birthing a truly decentralized financial network is that you have to make a few people rich along the way. Do not lose sight of the big picture: we are all part of one of the most important endeavors in the known universe. (111 points, 55 comments)
    4. ZCash is hitting Poloniex tomorrow and the price will likely go up. But I won't be touching it, ever. The entire project is already compromised on principles alone. (93 points, 59 comments)
    5. Submitted exactly one year ago to /investing: Why Monero is the next Bitcoin and you should be paying attention to it. 😄 ...they downvoted it to zero. (85 points, 52 comments)
    6. PSA: Never trust anything closed source with your Monero private keys. (65 points, 27 comments)
    7. What if you discovered a true super AI, just chilling on the internet? And nobody seemed to care? (58 points, 15 comments)
    8. Thank you. (52 points, 7 comments)
    9. A Game of Bagholding. (51 points, 39 comments)
    10. Monero is the next step on our way to a global technocracy. What's coming next may surprise you. (43 points, 44 comments)
  3. 987 points, 16 submissions: xmr_eric
    1. A reflection on Monero's fundamentals vs. the Dash pump (110 points, 165 comments)
    2. The Monero StackExchange needs you! Only 10 days left to hit our numbers - and we're still short. (109 points, 64 comments)
    3. Monero GUI video preview (95 points, 48 comments)
    4. Solo Mining: How to strengthen Monero's network and become part of its story (or, I just solomined a block!) (92 points, 31 comments)
    5. Monero's dynamic blocksize has increased (78 points, 14 comments)
    6. A reflection on why I believe in Monero (70 points, 32 comments)
    7. Installing 0.10.2 on my VPS node lowered the CPU utilization from 40% to 4%. Nice! (59 points, 8 comments)
    8. My nephew Henry is Monero's #1 fan (57 points, 18 comments)
    9. Redefine Monero as this: Private, Digital, Decentralized (55 points, 18 comments)
    10. Top XMR Exchanges (Poloniex just 2/3rd of total volume) (48 points, 25 comments)
  4. 724 points, 15 submissions: mWo12
    1. monero-core (GUI) development version - screenshots (71 points, 68 comments)
    2. Block 1220516 has been mined! (68 points, 21 comments)
    3. Monero overtook Litecoin in market cap (63 points, 32 comments)
    4. In last 4 weeks, Monero project got over 2200 xmr in donations! (62 points, 11 comments)
    5. Not only Monero price increased recently, but also donations to Monero project got significantly higher! (59 points, 3 comments)
    6. AlphaBay and Oasis Markets to Begin Accepting Monero for Payments (51 points, 18 comments)
    7. SIGAINT launches Tor Monero node as "[its] operators firmly believe that Monero is the next logical step in Darknet commerce" (48 points, 64 comments)
    8. FYI: Monero project got 228 XMR in donations in last week. (46 points, 7 comments)
    9. 5 Major Reasons Why Monero Has Spiked (45 points, 6 comments)
    10. If anyone interested, generated full list of donations to monero project and forum. It totals to more than 153k of xmr. (42 points, 19 comments)
  5. 697 points, 13 submissions: fireice_uk
    1. XMR-Stak-CPU - High performance, open source, miner released! (99 points, 175 comments)
    2. A proposal to speed up wallet sync around 5x (83 points, 112 comments)
    3. XMR-Stak-NVIDA - first secure miner for NVIDA cards, and a release of CPU and AMD miners (73 points, 70 comments)
    4. XMR-Stak-CPU v1.1-1.1 - even faster now, and you can check it on your mobile! (61 points, 24 comments)
    5. XMR-Stak - proudly XMR-only mining network stack (and CPU miner) (60 points, 31 comments)
    6. SECURITY AVISORY - Common Exploit in Monero miners (59 points, 30 comments)
    7. Proposal - cut wallet sync time from 30 min to 7.5 min (52 points, 4 comments)
    8. Miner exploit - this is why we need a bug bounty (44 points, 61 comments)
    9. XMR-Stak-AMD released! (44 points, 26 comments)
    10. FFS Idea - Cutting wallet sync time (36 points, 15 comments)
  6. 690 points, 15 submissions: savandra
    1. Monero promo video is finally done! (92 points, 48 comments)
    2. Monero: The Essentials (Video) (76 points, 24 comments)
    3. Monero Promo Video (69 points, 32 comments)
    4. Monero Video: The Introduction (50 points, 37 comments)
    5. New Video: RingCT explainer (1st of 6) (48 points, 37 comments)
    6. Monero Videos: RingCT update + Ring Signatures discussion (47 points, 14 comments)
    7. "What is Monero? is produced and open-sourced. The explanation video series is on its way (40 points, 10 comments)
    8. Monero Video: Stealth Address Storyboard (39 points, 7 comments)
    9. RingCT video: update (37 points, 18 comments)
    10. Monero Explainer Video Series: Ring Signatures. Help us with the script! (35 points, 34 comments)
  7. 672 points, 16 submissions: EncryptionPrincess
    1. More GUI pull requests were just merged! (89 points, 3 comments)
    2. I look forward to the day when #xmr is no longer referred to as an "altcoin" (74 points, 18 comments)
    3. Free Monero for new users (62 points, 167 comments)
    4. Zcash trusted setup disaster. The number of parties used should have much larger. It is sad that they never properly responded to this concern. (41 points, 47 comments)
    5. Tell everyone to stop using Minergate! (39 points, 22 comments)
    6. Accept Monero payments for Protonmail Plus and Visionary upgrades (37 points, 4 comments)
    7. Reminder for newcomers: XMR can be used at all BTC accepting merchants (37 points, 2 comments)
    8. Chain Anchor violates key principles of bitcoin. Monero view keys do not and allow privacy control to remain with users (35 points, 9 comments)
    9. I never thought this would happen. Respect to Amanda_B_Johnson for having more courage than Evan Duffield (34 points, 94 comments)
    10. Peter Todd describes potential single point of failure in #Zcash trusted setup (34 points, 15 comments)
  8. 651 points, 18 submissions: gingeropolous
    1. /xmrtrader exists. Please use it for all price movement talk. We all know it goes up and down. (60 points, 9 comments)
    2. Did you guys see this awesomeness? One time "addresses" with the same address. (52 points, 23 comments)
    3. Free VMs for Monero Developers (for Monero development) (46 points, 8 comments)
    4. Random musings on funding developments (42 points, 33 comments)
    5. Woohooo! Mine.moneroworld.com found a block! (41 points, 11 comments)
    6. Reflections on a world going round.... (39 points, 24 comments)
    7. Blockchain simulator in R (36 points, 3 comments)
    8. I'm so happy this is all happening (34 points, 8 comments)
    9. MoneroWorld Open Nodes update - random, permissionless inclusion! (32 points, 11 comments)
    10. Another day, another Monero: bitcoin subreddits go crazy over backlog. Monero users never to be affected. (31 points, 25 comments)
  9. 638 points, 11 submissions: fluffyponyza
    1. [Funding Required] Shen Noether, for work on RingCT and multisig (yay) (106 points, 40 comments)
    2. A fond goodbye to our friend and contributor, warptangent (104 points, 38 comments)
    3. PSA: fake MyMonero website is operating at .co, and stealing private keys (84 points, 1 comment)
    4. fluffypony's March Conference Circuit (Mostly Europe) (74 points, 25 comments)
    5. If you want to accept Monero (among other things) for your business, consider signing up for the now-open PayB.ee private beta! (48 points, 10 comments)
    6. Eek! Our StackExchange needs a little bit of attention! (44 points, 3 comments)
    7. FYI: Lily Newman from Wired kindly reworked and corrected the Monero paragraph in this article (39 points, 5 comments)
    8. If you're in Johannesburg, South Africa, then join us for the inaugural monthly Monero Meetup on December 17th! (36 points, 10 comments)
    9. There's an open issue for a Monero icon in Font Awesome, add your voice to encourage them to add it! (36 points, 10 comments)
    10. The Monero StackExchange Proposal is crossing 80% - all it needs is a few more committers with 200+ rep on another Stack! (35 points, 16 comments)
  10. 601 points, 12 submissions: needmoney90
    1. The Monero StackExchange is now in Public Beta (136 points, 26 comments)
    2. Price of Monero at the End of the Year (An AmericanPegasus Classic) (58 points, 30 comments)
    3. Monero Trezor Firmware Beta Sourcecode (Experimental!) (53 points, 19 comments)
    4. Let There Be Slack! (50 points, 21 comments)
    5. Silicon Valley Monero Meetup (45 points, 39 comments)
    6. A Reminder: Making money in crypto is easy. Keeping it is the hard part. (44 points, 22 comments)
    7. Silicon Valley Monero Meetup [Update] (43 points, 27 comments)
    8. PSA: Change your exchange passwords ASAP (38 points, 20 comments)
    9. The Monero StackExchange Is Now In Private Beta (38 points, 4 comments)
    10. /MoneroMarket - Buy and Sell Goods and Services for Monero (34 points, 3 comments)

Top Commenters

  1. fluffyponyza (3517 points, 612 comments)
  2. yuvzst (2008 points, 300 comments)
  3. gingeropolous (1692 points, 437 comments)
  4. uy88 (1658 points, 598 comments)
  5. ferretinjapan (1613 points, 304 comments)
  6. Ant-n (1474 points, 482 comments)
  7. lethos3 (1469 points, 336 comments)
  8. dEBRUYNE_1 (1318 points, 414 comments)
  9. JollyMort (1196 points, 248 comments)
  10. americanpegasus (1085 points, 246 comments)

Top Submissions

  1. Monero Core GUI Beta 1 Released by dEBRUYNE_1 (212 points, 135 comments)
  2. Monero v0.10.0 - Wolfram Warptangent - released! (Includes GUI update and how to update wallet) by dEBRUYNE_1 (192 points, 81 comments)
  3. Kraken — Kraken launches Monero trading by ferretinjapan (186 points, 53 comments)
  4. Bitfinex to add Monero (XMUSD & XMBTC) by dEBRUYNE_1 (183 points, 74 comments)
  5. Jaxx - Monero Integration Update by Jaxx_adiiorio (181 points, 73 comments)
  6. Ummm... I'm a Monero Millionaire. by MarylinMonero (171 points, 201 comments)
  7. Monero v0.10.1 - Wolfram Warptangent - released! | Mandatory upgrade! by dEBRUYNE_1 (167 points, 62 comments)
  8. /Monero - Newcomers Please Read. Everything You Need To Know. by cryptonaire- (165 points, 46 comments)
  9. Monero.how launches - Monero tutorials, statistics, chart and goodies by knaccc (155 points, 99 comments)
  10. Monero, the Drug Dealer’s Cryptocurrency of Choice, Is on Fire by swalecko (151 points, 78 comments)

Top Comments

  1. 97 points: binaryFate's comment in I left for a WEEK... WTF happened !?
  2. 77 points: TedTheFicus's comment in Jaxx - Monero Integration Update
  3. 71 points: mustbemoney's comment in ZCash is hitting Poloniex tomorrow and the price will likely go up. But I won't be touching it, ever. The entire project is already compromised on principles alone.
  4. 65 points: Tom___Tom's comment in Why is Monero's lead developer FluffyPony telling the audience in his speeches NOT to buy? (genuine question, no need to attack me)
  5. 62 points: JollyMort's comment in FBI Concerned About Criminal Use of Private Cryptocurrency Monero
  6. 62 points: Twentey's comment in Ummm... I'm a Monero Millionaire.
  7. 58 points: alvinjoelsantos's comment in Ummm... I'm a Monero Millionaire.
  8. 57 points: fluffyponyza's comment in Monero’s GUI: a Year Late, and a Zec Short.
  9. 56 points: nanoakron's comment in Jaxx - Monero Integration Update #3
  10. 55 points: jprichardson's comment in Any updates from Exodus?
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River - YouTube 1v1 Tariel on Mobile on Fortnite (part 2) The Manservant Asks About Smart Contracts Exploring Bitcoin with Amir Taaki - Part 2 Lets talk BitCoin LIVE with River @riverish333

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River - YouTube

Bitcoin mixers allow you to sent fully anonymous transactions. I take a look at one of the biggest bitcoin mixing platforms available in 2020. Bitcoin Mixer:... Excerpt from Let's Talk Bitcoin - Episode 106 (http://letstalkbitcoin.com/ltb106-exploring-bitcoin-with-amir-taaki) Krys Talk SoundCloud https: ... 1v1 Tariel on mobile on fortnite - Duration: 8:44. Giorgi on Mobile 7 views. 8:44. The Rise and Rise of Bitcoin YouTube Movies. 2014 · Documentary; 1:36:08. Let's talk about the Bitcoin price with Alex Mashinsky from Celsius Network. Alex was one of the early pioneers of the Internet and was one of the key people that made voice over IP (VoIP) tech ... This video is for educational purposes only and is never to be mistaken for financial advice. Co-founder Satoshi Sisters Discord https://discord.gg/VPmh792 Soundtrack by SALTY https://soundcloud ...

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