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Issuing money by global central banks is a great opportunity for stablecoins," says Digital Gold Advisor Dr. Walter Tonetto

Issuing money by global central banks is a great opportunity for stablecoins,
Last week we talked with our adviser and CEO at Nusantara Trust Dr Walter Tonetto. He answered a number of questions that interest our customers.
How did you land in the cryptocurrency / blockchain space?
I was advising startup businesses in the technology space, and when 2016 came around, I asked Scotty, the feisty chief engineer of the U.S.S. Enterprise, to beam me into the heart of the finance system; I felt more and more the irresistible tug towards remodeling the current toxic financial system. Purposive remodeling, of course, is going on all the time, and it’s a knife that cuts into two directions. The vast majority of the ‘woke’ crowd actually believe that they can ‘disrupt’ the power of the elites that control all money flows. Bathing limestone statues – registering about 4 on the Mohs scale and 0 on the scale of reason -- of past leaders in district waters may give you a feeling of breathing the air of revolution and tiring unknown muscle-groups in your shanks, but think of it like a father watching his child toss around shovels of soil in a sandbox; he smiles benignly from afar, knowing it won’t change a thing; all the luxurious appointments at home won’t get touched. It is a grave illusion to suppose that by playing around with payment systems and technologies we will actually change the role and the emission of money. You may be permitted to become the shoe-shine boy in the royal household, but don’t think you will marry the princess and dilute the royal blood! But understanding the constitutive parts of power aggregation, and working over significant time-frames, allows for approaches and solutions; -- but these should come not from another adversarial position, thus merely marking a displacement of the incumbent, a change of guard, but from an authentic re-orientation, of making benefits much more widely possible and not creating monetary systems that are grossly imbalanced and highly destructive. That, and not building tech stacks, is the challenge!
What was your initial reaction to bitcoin?
Well, I was following the file-sharing service Napster since it started, around 1999 – when the U.S.S. Enterprise was sitting pier-side at Huntington Ingalls Newport shipyard, rusted and gutted, and to me the P2P sharing paradigm was always present in my mind, shining buffed and radiant, so even the centralized Napster was something wholly natural to me – Dr Sheldrake calls it morphic resonance. We live with a great deal of blurriness, though. On the one hand, we think of the virtues of sharing; on the other, there is a seemingly indefatigable impulse to control and dominate. Sean Parker, after founding and floundering with Napster, became a cocaine-snorting egotist and president of Facebook. Collecting money for a charity, he gets aggressive with people who do not follow suit. A control-freak in overdrive. Notwithstanding the technical variations, BTC, seemingly freeing us up from fiscal controls and yet showing our craving for money, exemplifies the flawed perception at the root of things. Monero, which sounds like a much faster, highoctane vehicle, a CV8-Z of the crypto-track, beats BTC in regard to privacy and fungibility, though BTC has advantages in other areas.
Which is a much more common trend nowadays?
It’s hard to make out the shapes of wild-life in the current kangaroo market we’re in. The bulls and bears have mauled one another, and the kangaroo, bereft of oxygen on account of wearing a tight mask, is hopping wildly everywhere. But clearly the possibilities of digital currencies became un-tethered via Bitcoin and the querulous and hidden Satoshi. I like to think of him more as an idea rather than as a person; an idea is generally more malleable and consequential. For instance, rather than laud the benefits of crypto for FX and cross-border payments, the possibilities of a central-bank issued digital currencyENCOMPASS THE POTENTIAL to inscribe new roles for programmable money; for how money is issued, how it is used, and what role custodial mechanisms (traditionally in the hand of commercial banks) might have. I see HUGE potential for private firms to enter the equation here, but we need more open-minded and intelligent regulators that do not always look for the rungs of the career-ladder in any move they make! A DAO could be most helpful here, but we are currently under the terror of algorithms that are not concerned with the welfare of the greatest number of people. If I had the time I would coauthor a book on this theme with a skilful mathematician (perhaps with my son, who is completing a Ph.D in near-term Quantum Algorithms).

In 2018 I was keynote speaker at the BlueWhale forum in Seoul, and I spoke about an Algorithm of Peace. I had a clutch of people approach me straight after the talk, some from Korea, others from the U.S., and ask me to develop my ideas in book form.
Where do you see the price of bitcoin going over the next few years?
I wouldn’t speculate, but since everyone is shilling it, it is bound to keep pushing north, occasional blockages otwithstanding. I always look for twists and incongruities in the usual narratives on offer. Many BTC fans talk about the unbanked, but BTC is held by what will become another elite in due course, and the unbanked will later be serving them the chilled drinks between innings, as usual.
Do you think that there’s a time for altcoins to break out and move away from the movements of bitcoin? What’s that tipping point that needs to take place?
I have some notions under which alt-coins can take the lead and leave bitcoin behind, but it’s too complex to explain the conditions for that to occur. Once very solid use-cases have been established with a clutch of alt-coins, bitcoin might begin quavering in his boots. That alt-coins should take BTC as a benchmark speaks volumes about the lack of maturity of this young and over-eager market. The fuzzy umbilical cord is always present like a foot-tangle; alt-coins must find their own ground, and clip the connection to a vagrant father. Finance needs clarity and not fuzziness. Keep in mind that many sovereign nations bridle at the calamitous influence of the US on payment systems, so nations are building their own messaging systems outside SWIFT, and their own securities exchanges are following. But remember: these are all crumbs: the U.S. can shut down payments to any recipient accounts by informing the payments company and doling out threats. And since all alt-coins and fiat currencies are connected to payment gateways in some form, the U.S. would have to begin reforming its archaic ACH structure to enable efficiencies in the financial pipes, which does not offer real-time payments functionality. This accounts for the relative simplicity (and success) of the PayPal business model (which Venmo and Dwolla later emulated without using credit cards). But understand that the elites will always protect the real crown jewels, and incite wars (or street battles and racial squabbles, as we’re witnessing in the U.S. in mid 2020) so that they can get away with major financial heists in broad daylight. It’s all smoke and mirrors, and scorched talons if you look closely: you cannot trust the reflection you will receive on a smoky pane. Only the big players know the predetermined outcome.
One fundamental misprision occurs amongst alt-coin apologetes: they fail to understand how markets move and what the designated role of money is in markets. Even if you want to displace something, you first need to understand exactly what you’re dealing with, but that is rarely the case. Yes, banks are structurally and constitutionally part of the problem, but no government will dare cross swords with them: there is still too much aggregated power. Ripple and Stellar are two Blockchains that are working with, and not against, banks, and that likely makes them much better candidates for wide acceptance.
What’s one must-read book you recommend to everyone?
That depends so very much on who’s sitting opposite me! I wouldn’t push what is not naturally aligned. But I would push a couple of films urgently, as essential viewing for everyone:
“Vaxxed: From Cover-Up to Catastrophe” (and a sequel), which profoundly shocked me, but confirmed my suspicions. Talking about books: one gets a good sense of the kind of books I would counsel people not to touch, unless an overweening impulse bade them otherwise. For instance Steve Pinker, a favourite author of Bill Gates. Pinker in Gates’ hands explains a lot about the character of the reader, the latter of whom I consider one of the most dangerous people on the planet at the moment. If we stay with Pinker for a moment, since he’s famous and fashionable (Harvard professor with a Medusa hairdo and an effete libertarian air, who in “Better Angels of Our Nature” has affirmed that man is not innately good), we note in his presentation in regard to his ineptly titled book “Enlightenment” that he falls prey to the very flaws he chastises, the classic Münchhausen trilemma (in Jakob Fries’ phrase). Picture Baron Münchhausen pulling himself out of quicksand by his own hair! That he is beholden to neoliberal befuddlement becomes clear when two of the opening images of his talk show Vladimir Putin with a rifle andDonald Trump speaking on a podium. The classic neoliberal Harvard think-tank shows reason to be failing and drowning in pious gestures to the cognoscenti and anointed. I like to look for effective counters for specious and shallow argument: for instance, Rupert Sheldrake’s “The Science Delusion” is a splendid book that bucks the Dawkins’, Pinkers and other materialists of this age. You see, if one listens to Pinker with the head alone, his pedestrian epistemology might not irk, and some ideas might appear plausible enough in a desultory encounter, but if you really want to know the meaning of things, and discover how it relates to the heart, you feel betrayed and given short shrift by him. Among the platitudes he gives out in carefully parsed syllables, the movement of his forehead and eyes betray the spirit behind the façade. Yet I always look, like Yeats, for those who “had changed their throats and had the throats of birds”!
What’s the rainbow trout of the year? Nut-like flavour, the eye still gleaming, with tender, flaky flesh? There are many books I could cite for different genres. The vast majority of modern writers, for all their accomplishments, lack genius, don’t really understand the art of writing, and so cannot hold my attention for long. For those who are open-minded and spiritual, “A Course in Miracles” cannot be bested, but don’t touch it unless you’re really willing to dive deep. There is no need to save the world, since it is nothing but projection; there is no world. You might experience the deepest sigh of relief, as if Atlas had cast off a burden after the Titanomachy. Paul Celan once remarked that “reality is not simply there, it must be sought for and won.” Snorkeling near the surface and blowing bubbles won’t cut it.
We are living in times of great manufactured unrest, which will only heighten in coming months and years, and so I would offer a guernsey to Seamus Heaney. I had met him many years ago, alas cursorily, at a symposium at Waseda University where I was working as a Gaikokujinkoshi, an Associate Professor, where another Nobel laureate, Kenzaburō Ōe and he were giving a reading. Heaney was inspired to write “The Grauballe Man” on the basis of the bog man that he had seen in a book of prehistoric times, but the troubles in Ulster were alive in him, too:
As if he had been poured in tar, he lies on a pillow of turf and seems to weep
the black river of himself. The grain of his wrists is like bog oak, the ball of his heel
like a basalt egg. His instep has shrunk cold as a swan’s foot or a wet swamp root.
Talking of Japan here, methinks, is an aculeate observation of Japan:
Cross the intersection at Shibuya Station in Tokyo on a forbidding wintry evening — touted as the world’s busiest cloverleaf — and you will feel this is Eliot’s London Bridge revisited, with quaggas (think half zebras) preserved in the tar of the five crossings; — flattened ebon bones dreaming the dreams of Pleistocene mammoths — as the mass of the dead mill past you, chasing some mirage, and often accompanied by a revenant that must have been disgorged from a Pachinko parlour. Blanched lilacs float in minarets of light beyond these bituminous quaggas, bidding the odd-toed ungulates in their psychotropic dernier cri and fuddy-duddies in theirstygian suits to sup here or buy over yonder: all tethered to their devices. One might be surprised that no cracks are forming at these arced crossings with strange requisitions folding into the hiemal air. And yet it is still more odd that so few people see this as a primped and pimped potter’s field, a graveyard for those who’ve lost their way. We’re living in an age where the multitude of the dead are pacing among us in perdurable trysts with other zombies.
The above text is from one of my unpublished works; again it speaks to me – and perhaps to you – about the quiddities of this age. There is a distinct sense of zombification taking place on the planet at the moment. Is your lineage that of Dolly, or are you magnificent and free?
Do you have any theories about who Satoshi is?
I don’t really, though I follow the haughty chit-chat at times, especially in the jejune forums LinkedIN provides. I think the person has a good reason to remain concealed (forever), but that is also a major factor why I have never fully trusted bitcoin as an investment proposition.
Keeping the provenance concealed suggests a number of things, none of them conducive to embracing bitcoin as a common form of payment.
What do you think about the prospects of gold in connection with the uncontrolled money printing by different Central Banks?
Gold is what BTC can never become, especially when its provenance remains totally unclear – as well as its likely endgame! Central Banks engage in quasi-criminal activity – and one hopes the future prudent regulator won’t be making it too difficult for people to hold gold bullion. The Perth Mint might be a splendid little dot on the global map, but beware of holding your assets in the form of gold coins: many governments will regard them as forms of payment, and may impose all manner of restrictions on the possession of it.
Let's dream a little. How stablecoins can be used after 5 years from now?
I believe the great RESET is coming – even Davos and the U.N. are alerting us to that. The Covid19 panic has been declared by more than 1500 German physicians as a “global Mafia-style deception”, and while Big Pharma and Bill Gates will likely earn trillions of dollars by the useless and potentially dangerous vaccines that will be foisted on “free” citizens, the finance system as a whole will need to be RESET. We are already receiving an inkling of how draconian and void of reason and concern for the people most governments of the world are reacting to a harmless lab-manufactured virus (virologist Prof Luc Montagnier, Nobel Laureate in medicine in 2008, said that), so it’s possible that regulators may become more tyrannical, and under some pretext or other forbid the use of alt-coins. STABLECOINS can be over-collateralized, allowing absorption of pricing fluctuations, but it will be hard to call. I believe many are bound to fail, and that even earlier, despite all their most valiant efforts: as soon as the RESET comes, which is likely to come with all manner of encumbrances. There are many reasons for the issuance of stablecoins, some having opposing views, but all are dependent on trust – and we don’tknow yet if digital currencies that governments will issue will by regulatory over-reach (including absurd compliance requirements) displace other contenders, but you can assume that the tyrannical forms of governance we are currently experiencing suggest that all kinds of skullduggery are possible.
Do you see the problem of fiat stablecoins in the fact that annual inflation constantly depreciates them? An investor who bought $1000 USDT now and sold these tokens in 10 years for $ 1000 will receive much less money.
The problem occurs if we’re converting things back into payment forms that are fundamentally flawed. Inflation and Black Swan events are the major threats to stablecoins, and tethered crypto-values to natively burdened propositions recalls my earlier idea that we have not yet cut the umbilical cord to bitcoin. On the other hand, stablecoins in their current flavour are perhaps best viewed as transitional schemata that will need later revisitation.
You are a very successful Crypto and ICO Advisor, what is the secret behind this success?
I’m not sure if I’m very successful, but I always try to shoot a straight ball. Here are two instances where my input has not been heeded in any way.
I recall one of the first ICOs I advised. I was sitting with the owner on a Telegram Channel, and after some power Q&A sessions online, we were literally hearing the millions of dollars tumble in neat digital hashes into the inbox within a couple of hours of the ICO opening. He had a bottle of Scotch on his table, and by the end of the session he had reached his hard cap and was besotted to boot! The age of digital money had placed the foolscap on his pate, but the script was no longer legible. I cannot determine if his sobriety ever returned. The prudential advice I had been giving him previously – and that we had discussed in great depth -- was over coming weeks thrown out of the window, and I assume other bottles of Scotch ended up on his desk and didn’t last long.
Here is another example. At one time a well-known ambitious individual in the U.S. cryptospace, a young lawyer, asked me if I wanted to start a crypto compliance organisation with him.
When I think of him now and the feathery assistants he congregated around him, I think of the lines in Dickens’s “Bleak House”: “Mr. Tangle’s learned friends, each armed with a little summary of eighteen hundred sheets, bob up like eighteen hammers in a pianoforte, make eighteen bows, and drop into their eighteen places of obscurity.”
Simply to continue serving wine from the same sour vats won’t do. I saw that as a prospective idea, and offered some important advice to get the ball rolling. Soon we had recruited many eager beavers to the exercise, and there was talk of it becoming an influential body. I was naïve enough to assume at the time that my co-founder, a black college asketballer with body tattoos who had a write-up in a major paper on account of his ambition and aggression, was actually interested in asking some fundamental revisionary questions about compliance in relation to the freedom of the citizen. When I suggested we don’t just copy the traditional compliance template and rather probe more deeply, he became insolent and very aggressive. That confirmed my instinct that most ambitious players in the crypto-space are actually dyed-in-the-wool bourgeois, and don’t care about improving the system itself.
What is your advice for upcoming Crypto startups and investors?
You might know the technology well, but do you know the business? Does it really deeply address, even solve, a problem? How much life experience do you have, and how well do you know the market? Can you create a market for your product or services? If yes, how will you do that? Have you only got yes-men around you, or are you willing to listen to those who speak Tacheles to you? If you’ve come to water the plant of your ego, your business will flounder. Most achievers keep their ego initially in check, and get the work done.
For investors the answer I would give is rather complex, but here’s a brief response: often the mandate of investors is very narrowly girded, and they trust their old boy networks, and rarely venture out and follow their instincts. That is foolish, and also the recipe for a dull life.
Perhaps a general observation that everybody might ponder with profit is the idea that we know really so very little of the world; that the news and information we are are offered and digest, even when it is tendered by so-called ‘experts’, is often seriously ignorant. It seems our perspective is getting narrower all the time, as if our mind is shrinking and we block out knowledge.
Let me give another current reference point. In 2020 everyone is fearful of viruses. Viruses currently have a bad rap! We have no idea what they actually are. We are always hobbling around with our fearful partisan gaze, and what is good today becomes bad tomorrow. Yet viruses are adroit and malleable messengers of inter-species DNA, in some sense regulating vast populations of organisms. Think of them as cellular simpletons: mere protein shells with few genes, but endowed with the ability to replicate easily despite their paucity of genetic instructions! They form alliances, you might say, with other forms of life. And they are deeply mysterious to our acquisitive and ignorant segmenting intelligence: how can the papillomavirus cause horns to grow on rabbits; and at the same time cause hundreds of thousands of cases of cervical cancer every year? Is one good and the other bad? It would seem so. Such simple summary, like Pinker’s reductionist view of the world, might becalm for a moment, but does not offer lasting satisfactions. To read the world along the axes of like and dislike, as the Buddha had warned us, leads to great suffering.
I’m told by someone who met Bill Gates a long time ago that the man was apparently even then obsessively fearful of viruses (imagine a pendant to Lady Macbeth, continually cleansing his hands). But do we have any clue what viruses actually are, and how they benefit us all in so many incalculable ways? When the child crawls around, it picks up antigens (bacteria and viruses) and on that basis builds its immune system. At various points of that contact and exchange new forms grow, and other forms decay and die. Like CO2, viruses are suddenly declared dangerous and that we need to shield ourselves against them. Yet how many people know that marine phages rule the world, and rule the sea? This was not discovered until 1986. An electron microscope showed that every litre of seawater contained up to one hundred billion viruses, almost as much in dollars as BillGates expects to make off vaccines in 2020. If you put these viruses end to end, they would stretch out forty-two million light-years! Viruses offer stunning genetic variety, and they are the very pulse of life! When viruses swallow oceanic microbes, they release a billion tons of carbon every day: imagine squalls of marine snowfalls, powdering the porous sand of the deep. Imagine the white nights of St Petersburg under water, celebrating the magic of life with the same skill and abandon as the Mariinsky Theatre, to an audience of gastropods, deep-water fish and lovelorn mermaids.
Seamus Heaney, when he passed in 2013, spoke the word Noli timere (“Do not fear”) to his wife as he breathed his last. Instead of being fearful, we might do well to assert that we understand nothing of the manifold wonders of this world! Let us cultivate the virtue of wonderment, and fear will find no habitation in our house:
And lonely as it is that loneliness Will be more lonely ere it will be less— A blanker whiteness of benighted snow With no expression, nothing to express.
They cannot scare me with their empty spaces Between stars—on stars where no human race is. I have it in me so much nearer home To scare myself with my own desert places.
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submitted by digitalgoldcoin to golderc20 [link] [comments]

GPU and CPU upgrade

As many others did, I got a stimulus payment today. I also got a raise and a bonus on my last paycheck. So I'm looking to get some upgrades. I desperately need a new GPU. When I built my PC 2 years ago, I re-used my old graphics card because the bitcoin miners inflated the prices so high. So I'm looking to upgrade my CPU and GPU now.
Current specs:
650W gold rated PSU, 16GB DDR4, Ryzen 1500X, Geforce GTX 960 2GB. Monitor is 1080p 60hz, but I do plan on buying a high refresh rate monitor in the future.
I've already decided to upgrade the CPU to a 3600 or 3600X. That was an easy decision.
My main problem is I don't have enough VRAM for anything that's come out in the past year or so. I've been looking at mid range cards like the 5600XT and 1660 Super or 2060 RTX. The thing that concerns me, is those cards only have 6GB VRAM, and in the benchmarks I've watched, I see some games are already using over 5GB. With a new console generation launching soon, I'd imagine games are going to start using more VRAM. So I really want to go with 8GB. The other thing that concerns me, is I've only ever bought one video card from team red before. That was a Radeon HD 5770. I had nothing but problems with it. It would crash and blackscreen like every 10 minutes, and I reached out on the official forums, there were quite a few of us with the same issue. I waited for the driver to fix it, never got fixed, so I ended up buying a 560 TI. Now looking at the 5600XT and 5700, I'm hearing the AMD is still having driver issues. That's a shame, because they seem to be beating Nvidia in price to performance.
So now I'm considering a 2060 Super, but the price is making me hesitate.
So question is, what is the best graphics card to pair with my Ryzen 3600 upgrade?
submitted by fartmitten to pcmasterrace [link] [comments]

Daily analysis of cryptocurrencies 20190924(Market index 39 — Fear state)

Daily analysis of cryptocurrencies 20190924(Market index 39 — Fear state)


Tech Giant Tencent Leads $20M Series A For Blockchain Supply Chain Startup Everledger Everledger, the U.K.-based blockchain supply chain startup, has raised $20 million in Series A. The round was led by Chinese tech giant Tencent, with participation from other investors. Everledger CEO, Leanne Kemp, told The Block that the firm is looking to bring its solutions to China with the new capital.
BOJ Kuroda Urges Global Cooperation In Regulating Facebook’s Libra Haruhiko Kuroda, Governor of Bank of Japan (BOJ) said on Sept 24 that international cooperation was crucial in regulating stable coins such as Facebook’s planned Libra digital currency. “If Libra is introduced, it could have a huge impact on society,” Kuroda told business leaders in Osaka, western Japan, adding that policymakers must thus ensure that they apply the highest level of regulation to such stable coins.
Governor Of PBoC: CBDC Not Necessarily Uses Blockchain Technology, No Timetable Scheduled Yet While China is accelerating the development in digital payments, Governor of the People’s Bank of China (PBoC), YI Gang, clarified that although the research team of the central bank backed digital currency (CBDC) is taking blockchain, digital payments, and a range of frontier technologies into consideration, it is uncertain which one or ones will be used at last. Besides, the central bank has never preset a technical route for the CBDC, nor has it made any decisions on a precise timetable for the launch of the CBDC. YI Gang made the remark today on Sept 24 at the press conference for celebration of the 70th anniversary of the People’s Republic of China. The press conference focused on the latest ideas to foster a healthy, stable, and sustainable economy in the country. He added that the introduction of CBDC won’t change the current issuance or distribution of currencies. “The goal of the CBDC is to replace part of M0 (money in circulation), not M1 or M2,” he said. The Governor addressed that positive progress has been made in digital currency research. Note: M0 is the total of all physical currency including coinage. M1 money supply includes those monies that are very liquid such as cash, checkable (demand) deposits, and traveler’s checks. M2 money supply is less liquid in nature and includes M1 plus savings and time deposits, certificates of deposits, and money market funds.

Encrypted project calendar(September 24, 2019)

ENG/Enigma: Enigma (ENG) ENG main network token snapshot will end on September 24, the original start time is August 26. LINA (LINA): Lina Review will host the Lina network launch event in Ho Chi Minh City, Vietnam on September 24th and release a 10-year operational strategy. Cappasity (CAPP): Cappasity will showcase its digital signage solutions in luxury stores at the Paris Retail Week from September 24th to 26th.

Encrypted project calendar(September 25, 2019)

MIOTA/IOTA: IOTA (MIOTA) IOTA will host a community event on September 25th at the University of Southern California in Los Angeles on the theme of “Building Your Own IoT.” Quant (QNT): The Quant project will participate in a marketing conference in London from September 25th to 26th, which will focus on data technology.

Encrypted project calendar(September 26, 2019)

ADA/Cardano: The Cardano (ADA) Cardano community will host a party in Washington, DC on September 26.

Encrypted project calendar(September 27, 2019)

BTC/Bitcoin: Cripto Latin Fest will be held in Cordoba, Argentina from September 27th to 29th. Switcheo (SWTH): After a one-year token exchange process, the project team will officially end the SWH→SWTH token exchange process on September 27.

Encrypted project calendar(September 28, 2019)

ADA/Cardano: Cardano (ADA) Cardano (ADA) 2nd Anniversary, Cardinal Foundation, IOHK and EMURGO main members will participate in community celebrations in Plovdiv, Bulgaria on September 28. TOP Network (TOP): The TOP Network team will hold a hackathon in Prague, Czech Republic from September 28th to 29th. Horizen (ZEN): Horizen project BD Rep Vano Narimandize will discuss the current status and development of sidechain technology at the Industry 4.0 Blockchain Summit on September 28.

Encrypted project calendar(September 29, 2019)

GAME/GameCredits: GameCredits (GAME) is expected to perform hard forks on September 29th at block height 2519999

Encrypted project calendar(September 30, 2019)

INS/Insolar: Insolar (INS) will be on September 30th ERD/Elrond: Elrond (ERD) will conduct main network test on September 30th NULS/NULS: The NULS team will plan to beta the ChainBOX in the third quarter. CS/Credits: Credits (CS) will exchange tokens and bug rewards in the third quarter QTUM/Qtum: Quantum Chain (QTUM) is expected to complete lightning network beta in the third quarter XEM/NEM: New World Bank (XEM) will release mobile wallet and computer wallet in the third quarter HC/HyperCash: hypercash (HC) will complete community management agreement in the third quarter

Encrypted project calendar(October 01, 2019)

HT/Huobi Token: The financial base public link jointly created by Firecoin and Nervos is expected to be open source in October. RVN/Ravencoin: Ravencoin (RVN) Ravencoin will perform a hard fork on October 1. ADA/Cardano: Cardano (ADA) plans to hold technical consensus meeting in Amsterdam on October 1st XRC/Bitcoin Rhodium: Bitcoin Rhodium (XRC) will record account balance awards on October 1st PPC/Peercoin: Peercoin (PPC) will perform Peercoin v0.8 (code tang lang) hard fork on October 1st

Encrypted project calendar(October 02, 2019)

BNB/Binance Coin: The 2019 DELTA Summit will be held in Malta from October 2nd to 4th. The DELTA Summit is Malta’s official blockchain and digital innovation campaign. CAPP/Cappasity: The Cappasity (CAPP) London Science and Technology Festival will be held from October 2nd to 3rd, when the Cappasity project will be attended by the Science and Technology Festival.

Encrypted project calendar(October 03, 2019)

ETC/Ethereum Classic: The 2019 Ether Classic (ETC) Summit will be held in Vancouver on October 3–4

Encrypted project calendar(October 05, 2019)

Ontology (ONT): Ony Ji will attend the blockchain event in Japan on October 5th and explain the practical application based on the ontology network.

Encrypted project calendar(October 06, 2019)

SPND/ Spendcoin: Spendcoin (SPND) will be online on October 6th

Encrypted project calendar(October 07, 2019)

GNO/Gnosis: Gnosis (GNO) will discuss the topic “Decentralized Trading Agreement Based on Ethereum” will be held in Osaka, Japan on October 7th. Kyber and Uniswap, Gnosis and Loopring will attend and give speeches.

Encrypted project calendar(October 08, 2019)

BTC/Bitcoin: The 2nd Global Digital Mining Summit will be held in Frankfurt, Germany from October 8th to 10th.

Encrypted project calendar(October 09, 2019)

CENNZ/Centrality: Centrality (CENNZ) will meet in InsurTechNZ Connect — Insurance and Blockchain on October 9th in Auckland.

Encrypted project calendar(October 10, 2019)

INB/Insight Chain: The Insight Chain (INB) INB public blockchain main network will be launched on October 10. VET/Vechain: VeChain (VET) will attend the BLOCKWALKS Blockchain Europe Conference on October 10. CAPP/Cappasity: Cappasity (CAPP) Cappasity will be present at the Osaka Global Innovation Forum in Osaka (October 10–11).

Encrypted project calendar(October 11, 2019)

OKB/OKB: OKB (OKB) OKEx series of talks will be held in Istanbul on October 11th to discuss “the rise of the Turkish blockchain.”

BTC completed the downward break of 9890, the key hint of yesterday’s closing, in yesterday’s trading yesterday, and accelerated the downward trend further at night, and achieved the effective arrival of the first support line 9600, which was suggested in yesterday’s closing. Although the price has come out of a certain rebound performance, the actual rebound strength is limited. The forward market still operates in the disadvantaged areas. However, the rebound in early trading seems to be only the technical rebound correction after the first round of decline touches on the clear support position. It is reasonable that the price rebound correction occurs after the serious oversold of short-term indicators is consistent. Therefore, it is not recommended that the current rebound be interpreted excessively as long as the price remains at 98. Running below 90, the short-term downward target of 9400 mentioned in yesterday’s closure is still worth looking forward to. For BTC, the idea of short-term trading follow-up is further simplified. After the first wave of short-term orders landed smoothly, the short-term can continue to use 9890 and 9600 as benchmarks. The price reversal test of 9890 is again frustrated, or it is confirmed that after falling below 9600, a new round of short-term follow-up can be done to catch up with the target of 9400. When 9400 is in place, as long as there is no extreme situation of instantaneous dive breakdown, it is recommended to make profit settlement in time. This position can be used as a reference for strong support of midline level. There is a greater possibility of forming band stop-fall reversal near this area, and it is worth making key observation after it is in place.
Review previous articles:

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

Big Reddit Protein Powder Measurement Results

I promised here to measure the protein content of various supplement powders. Many people offered to send samples and I selected some. Yesterday and today after couple hours of work I finished the measurements.
Here are the results
My interpretation: I haven't measured any powder as 100% accurate. The reason probably is that none of it dissolved in water as good as my BSA standard. I gave a subjective solubility score to each. For example many chocolate flavored powders left a debris that looks like cacao, I gave them score of 4. Plant based powders didn't dissolve at all so got solubility score of 1 and obviously had low readings which doesn't mean anything. I guess they are just plant powders not isolated proteins.
Brandwise, Optimum Nutrition looks very reliable to me. Gaspari and Body Fortress are suspicious and deserves another independent measurement. The others are OK, remember that solubility is important and 75% reading might just be attributable to that. Finally, stay away from American Pure Whey.
Bitcoin donations are welcome: 14Gy12JvWG43ft56ckfLVAyBNz6frwgwzX
EDIT: For those of you who are suspicious of APW results, check out the previous thread that inspired this one. They did not find any protein either.
EDIT: Thanks for the bitcoin donations. I'll turn them into caffeine, that into science and hopefully that into more broscience.
EDIT: For those of you who are curious here is the photo of the plate and my standard curve.
EDIT: As pointed out by the submitter MyProtein has a fine print that says cocoa in chocolate flavored protein makes the actual protein content %8 less than the unflavored one. We measured the chocolate version so I adjusted the claimed protein per serving from 19.6g to 18g. This pushed the reading to 90%.
EDIT: No, I'm not taking any more submissions. If I plan I'll post another call. In the meantime are there any other gym-rat/lab-rat that wants to take over?
EDIT: There has been very valuable suggestions in the comments by people who are more experienced than me in the lab. If anyone wants to do something similar in the future here are some thing we have learned:
EDIT: Gaspari posted an official response.
FINAL EDIT: I would like to add one last comment. This experimentation created thousands of comments around the net, especially in forums. Many people raised concerns about the testing methods, many raised concerns about Gaspari products. I want to state that I know me doing this is ridiculous. But it is not ridiculous because my testing method has a large margin of error (of course it does) but because I am the only one in the world that does this. Please reflect on the status quo rather than single outing Gaspari. Here is a billion dollar industry and no qualified third party is doing a comparative analysis and customers don't seem to care. Can you imagine a world where CPUs and GPUs are not benchmarked? Of course some benchmarking methods are flawed or not suitable for certain products but that is not the point. Somebody should do it and it had to start somewhere. Let's push places like Cosumer Reports, large fitness websites or magazines to do this properly. I hope my effort can raise enough awareness. That is my only wish. So long.
submitted by physicistjedi to Fitness [link] [comments]

We expect a statement from Brian Armstrong regarding numerous recent user-impacting issues on Coinbase/GDAX platform.

To be frank, I don't give a damn what holiday weekend is coming up. This is getting out of hand and is a bit reminiscent of the type of bullshit we see from the financial sector and more recently, from Mt. Gox.
To be clear - Coinbase Exchange/GDAX largely ran as a phenomenal, best-in-class platform until just about a month ago when a whole spectrum of issues began popping up.
I understand there are compliance requirements your company is dealing with right now left and right. But you don't pick this NetVerify app to do it with, you don't auto-lock users' trading/withdrawal capabilities, and you don't give an ultimatum that essentially 'there will be consequences' if this impossible task isn't completed by la-de-da-date.
This is maybe the fourth round of verification I've personally had to go through just to maintain an account with Coinbase. Why? You don't communicate any of the rationale behind it - there's a perfectly good notification box in the upper right of the GDAX UI that you blithely announced to the world that you'd be opening ETH trading with. That seems like a good place to start.
Now I'm sure somebody in your organization gives you daily incident reports, and hopefully gives you a total user cases figure on that report somewhere too, along with resolution times, support-FTEs-used per major issue, mean response time to user support requests, and so on.
$75M in funding can buy you a globally-scalable platform, sure, but nobody's going to give a damn if none of your legacy users find your platform reliable anymore. I don't think giving out $10 worth of Bitcoin for referrals is going to cut it this time if the status quo remains.
Anyone else, please feel free to add to this. After spending countless hours on the community support forums (which, yes, are a start), I know I'm not the only person customer having issues.
For further clarification, in response to a few dissents:
Until about two weeks ago, I was entirely synched with your opinion. In my mind, Coinbase Exchange, which now functionally appears to be an entirely different platform and service from the contemporary GDAX, was the absolute cream of the crop when it came to trading/exchange platforms for not just Bitcoin, but for any cryptocurrency.
However, this isn't necessarily or even about the compliance asks; its about the sudden failure of their platform - with $75M in funding acquired earlier this year - in terms of technical reliability, in apparent response to: 50% the addition of additional compliance requirements and 50% the apparently (user-perspective) untested addition of ETH to the platform.
At least half the complaints regarding affected user-liquidity have come from ETH deposits/withdrawals, with zero compliance-related issues mentioned, and the response times by their apparently anemic support staff have been poor at best for a company in the tech space.
What worries users is that there have been - from a customer perspective - a number of high-severity defects pop up in quick succession on the platform: orders getting stuck with a 'Pending' status for hours, questionable compliance-related locks put on accounts via a poorly-designed, third-party automated system, and above all - a highly disturbing lack of top-down communication addressing the issues or at the very least, even acknowledging any stress on the developer side of the platform, which many customers find highly unacceptable in a normally audit-fluid currency environment.
I'd encourage you all to browse the community support furums at and research the spectrum of systematic issues currently active at the moment - only a minority of which have been classified as what they support staff refers to as an "[Official Issue]"
tl;dr This isn't about how 'cool' or 'useful' or 'superior' or 'accessible' Coinbase's platforms are, it's about the fact their leadership team apparently think they're above having to communicate to customers issues that may affect customers' liquidity, deposits, account status, and assumed capabilities within the platform and resolve said issues within a reasonable timeframe (which, believe me, IT benchmarking organizations like Computer Economics and Gartner crank out metrics on annually).
Update: It gets worse, and still no statement.
submitted by jjdub7 to Bitcoin [link] [comments]

Monero FAQ

Hi, it’s some weeks that I’m getting into Monero and I really see a great future for it. My problem is that I have a very low budget so my mining capability is a joke (around 80 h/s). I cannot help this coin to grow by mining it, so I’m making this FAQ hoping that can be useful for new users. If you want to support me, the tip jar is at the end of this post. Thank you!
I noticed a lot of confusion around Monero. Many of the most asked question are basically the same , so I collected some of them from /monero, /moneromining and monero.stackexchange and I made this Monero Faq. Please feel free to suggest any new frequently asked question or correction/modification/ (also about the grammar, my english is not very good), i’d like to keep this post updated.
Last update: 1/03/2017

Where can I find a good mining pool?


Is Minergate good for mining?

Minergate is known for being linked to Bytecoin (read here and here ) and many users are noticing lower or differences in hashrates when using other miners (just make a research using the word “minergate” here on reddit). don’t be fooled by the nice graphical interface.

What miner should I use?

CPU: XMR-Stak (Windows-Linux) CpuMiner by tpruvot (Windows, Linux), CpuMiner By Wolf, xmr-stak (MacOS) and cpuminer(MacOS) By correcthorse
GPU: XMR-stak (AMD), Ccminer (nVidia) by KlausT, Claymore's CryptoNote GPU Miner (AMD)
If you are a Windows user read this

Does it worth to mine monero?

You can check by yourself using these tools:
XMBTC charts:

How can I calculate my CPU or GPU capability of mining?

Check this link for CPU & GPU Benchmark

Can I use a proxy for mining?

I personally use XMR Proxy. If you want to monitor your rigs you can use Monero Mining Monitor

How can I setup a local wallet without running a node?

How to get a wallet without running a node

Can I run monero through Tor?

Guide to use monero with Tor correctly
Monero safety through Tor

or i2p?

Why we chose i2p over Tor

What type of wallet exists?


How long take to sync to the blockchain?

It can take from few hours (using SSD drive) or even 24 hours, depending on hard drive and connection speed

How do I generate a QR-code for a Monero address?

How do I generate a QR code for a Monero address for a personalized code

How can I buy some Monero coins?


How do I use the Monero GUI?


How do I connect to a remote node using the GUI?

Connect GUI wallet to remote node on network

Where can I follow updates and/or make questions about Monero?


More useful links:

My address for donations: 48DYna5JiDrHz5xkcoSii4WzFNXLzCFjkPPugp7XNZ1N6v8NUhjaC6Sf1BEBEJ35JaJAYKK4XGc2ZEKGeEQ2ySDmFDZdAHy
submitted by ErCiccione to Monero [link] [comments]

Skywire Testnet FAQ Update (July, 2018)

Please keep in mind that this will be an evolving FAQ and a living document as we progress through our testnet, so check back here often for updates.

General Information

What is the objective of the Skywire Public Testnet?

There are several goals we will accomplish with the Skywire Public Testnet. The testnet will be split into several phases. The version running today is the internal version of our testnet, aimed to validate its function and performance. The coming revision will publicize the network, as well as establish a fair economic model reward mechanism for running nodes. This will be based upon analysis of node utilization during testing. This testing will provide us valuable information to design a robust mathematical model for the mainnet so that all nodes on the mainnet will be automatically incentivized under a fair economic model.

What is the function of this version?

Once a user sets up an operational node, they will be able to search for other nodes and be connected to users around the world, breaking down borders and barriers to access global information.
Note that any computer can become a node on the network, however, only whitelisted Skyminers (all Official and selected DIY) will be participating in the economic model testing program, and eligible for rewards.

What kind of Skyminers will be whitelisted for the Testnet?

There are three main categories of Skyminers:
The initial whitelist will include the Official Skyminers that have shipped to users around the globe. These will become the baseline for early DIY Skyminers. Since we are entering into uncharted skies, we want to initially reduce any variables possible and test the network in a controlled manner.
We have already been scaling out to include high quality DIY Skyminers with equivalent specifications, and eventually any Skyminer (official or DIY) that reaches the minimum specifications required. Those minimum specifications will be determined during the testnet and released to the Skyfleet community as they become available so stay tuned.

What will be the whitelisting process be like?

First, the Skywire core team will collect the public keys for each node within each Official Skyminer. Since there are 8 nodes in a Skyminer, each will have 8 public keys. These Official Skyminers will be whitelisted once public keys are provided to the Skywire core team.
Here is a link to the whitelist submission page
DIY Skyminers will be reviewed manually and approved weekly (approximately 50 per week) following the completion of the whitelisting process for the Official Skyminers.

Can DIY Skyminers join the whitelist?

While Official Skyminers will be on the whitelist by default (upon submission and receipt of their public keys), DIY Skyminers will be allowed to join the whitelist based on the benchmark set by the Official Skyminer’s hardware configuration. DIY Skyminers will be required to provide detailed specifications and photos, submitted to the corresponding team for review. Qualified DIY Skyminers will be added into the testnet whitelist. Please remember that only selected DIY miners will be whitelisted. You may refer to the Skywire community on Telegram or the community Skywug forum for more discussions around this topic.
The first generation Offiicial Skyminer hardware configuration is as follows:
8 hardware nodes made up of 8 Orange Pi Prime PCB boards
8+1 100Mbps router (custom 16-port OpenWRT in production)
16GB RAM (8 x 2GB DDR3)
ARM Cortex-A53 CPU
Hexa-core Mali450 GPU
LAN Bandwidth: 8 x 1000Mbps
64-bit Linux (Alpine Linux)

What kind of hardware will be able to participate in the Testnet?

Any computer can be added to the Skywire Public Testnet, set up as a node, and use the functions of Skywire. However, only a limited number of machines will be whitelisted (including Official Skyminers and some DIY Skyminers as noted above) and receive rewards during the testing stage.
Machines not on the whitelist will still be able to participate in the network and access the full service of the network, however they will not receive rewards.

Is a dedicated router part of the required spec? For example, if someone builds a miner that meets spec with 8 nodes and a switch, but just has it connected directly to their home/ISP Router will they be whitelisted?

They could be whitelisted. Official miner is just a benchmark and DIY Skyminer doesn’t require the exact same setup as the benchmark.

Is there any difference between Official Skyminers and DIY Skyminers?

In the current testnet, only ONE miner is allowed to be whitelisted per IP address. In the future when rewards is proportional to the bandwidth you are producing for the network, any rewards is directly tied to the bandwidth you are producing so you may have any number of miners as you want with a single IP address.

How do I setup the software for my Official Skyminer?

We have simplified the process of setting up a Skyminer by creating a Skywire software package image for users to directly flash to their SD cards. The image contains all the standard functions that the nodes will need to get started with Skywire, such as the operating environment, static IP address, auto-start function, etc.
Please visit the Skywire Github for a detail tutorial on the software set up process.

How do we join the Testnet?

Those who have previously installed a version of Skywire can update directly in the software. (Note: if the update fails, please reinstall it by following the instructions on Github:
Please remember that only whitelisted miner will receive rewards at this stage. However, you can still access the same VPN functions with Skywire along with everyone else!

What do we do after installation?

It is simple! All you have to do is keep the node online so that other Skywire nodes can connect to yours, as we perform network tests and do all the heavy lifting from our end. Grab a drink, sit back, relax and enjoy using the new internet :).


What will be the reward mechanism for running nodes?

At the moment, whitelisted miners will require a minimum of 75% up time per month to receive that month's rewards. The reward ratio will be set carefully going forward. We will first need a rigorous dataset as a point of reference and will be adjusting the rate continuously throughout the process as the economic model gets established.
It is important to note that in the current testnet, Skycoin is rewarded independent to bandwidth production of your miner. In the future, Coin Hours will be earned instead of Skycoin depending on the bandwidth you are providing to the Skywire network.

Do we get extra rewards for maintaining >75% up-time?

No you will not. Everyone who maintain >75% up-time will receive the same rewards.

What is the mining rewards?

For the first month, the rewards was set as 96 SKY per official miner and 6 SKY per node up to 48 SKY for DIY miners. As we figure out the most optimal economics to incentivise a global meshnet of hardware infrastructure for this new internet, this number will change depending on the growth of our network.

Does Skyminer mine Coin Hours?

Coin Hours is a separate currency produced by Skycoin. Each Skycoin produce 1 Coin Hour every hour. Coin Hour will be used in the future to pay for transactions in the Skycoin economy such as Skywire and Kitty Cash accessories. Once we move onto the main net, Skyminer will produce Coin Hour instead.

How often does the whitelist uptime monitoring refreshes?

It refreshes at the beginning of every month.

Do we need to be whitelisted once we move to the mainnet?

No. Anyone is free to join and start earning by contributing valuable resources (bandwidth, storage and computation) once we are on the mainnet.


When I visit on my browser, I see my own home's router instead of the miner's router. How do I fix this?

There is a conflict in the LAN configuration between your home's router and the Skyminer's router. You need to change the miner's router IP to another IP address OR you can change the miner's router into your own network switch

Is Skycoin node the same as Skywire node?

No. They are a completely separate and independent decentralised network. Skywire node is responsible for sending, receiving and transmitting data. Skycoin node is only for validating transactions and the state of the blockchain much like Bitcoin nodes.

Do I need to leave my computer on once I have configured my Skyminer properly?

No you do not. As long as your home's internet modem is still turned on and providing bandwidth to the router and CPU boards on your Skyminer, your own personal computer doesn't need to be left on. That's the idea of having an independent purpose-built Skyminer.

My Skyminer was turned off because my power went out, will I need to re-register on the whitelist and lose my rewards?

No. All you need is to maintain a >75% up time as shown on the discovery address (

Will I need to reflash if my miner was shut off?

No you will not. Installing Skywire on a Pi is like installing a program on your personal computer. You don't need to reinstall the program every time you turned off your computer.

Will changing the router affect my node's public key?

No it will not. The public key is attached to the software installed on the Pi. If you reinstall the program (eg. reflashing) then you will have a new set of public keys. If you have reflashed after submitting your public keys on the whitelist, you have to contact us to change you public keys otherwise you will not receive your rewards.

I can't log on to the router of my official Skyminer.

Ensure all the networking cables are attached correctly, turn off any wifi and VPN on your computer, ping via the Windows or Mac command prompt interface. If you are able to ping your router than please wait 2 minutes and try again. Contact our community managers for support for more help on the Skywire Telegram

I have set my Skyminer's router's address on WLAN as However, when I tried to access via another computer I am unable to connect?

Port 8000 is an address set for the Manager node's board. It isn't part of the router's address. If you haven't set up the port forwarding correctly, when you try to access from another LAN network (outside of the Skyminer's own LAN), you will not be able to connect to the miner's router. If you are uncertain about how to set up portfowarding rules, contact our helpful Skywire community managers for more support.

What cables do I need for the Miner's WAN port?

The same as your home's internet cable. We recommend CAT 5e or better cables.

I successfully used Skywire to access the internet by using the bandwidth provided by another peer. However after a while, I was unable to continue using the connection and have to reconnect, why is that?

This is normal. If there is a period of bandwidth inactivity, the connection will disconnect automatically. Another reason is that the peer you have connected to is providing a sub-par connection.

How do I know what my mining nodes' IP addresses are?

Enter the Skywire manager interface installed on the Manager node, turn on 'Terminal', and enter the prompt "ifconfig" in the command prompt. It will return with the IP of that exact node you are accessing.

The green lights on all 8 boards are lit. Why do I only see 7 nodes on my Skywire Manager interface?

First check if all 8 lights are lit on the miner's router. If not then check all connections are properly installed. Then use the "ifconfig" method mentioned above to identify exactly which board is not connected. Restart and reflash that SD card and try again.

If someone else has connected to my node, can I be hacked by them?

No they can't. Due to the restrictions set up in the software code, peers are not able to visit anywhere outside of the node they are connected to.

Where can we learn more about Skywire and join the discussions?

Chinese community:
Follow Skycoin China official Wechat Account - “SkycoinFans”, and join our Wechat discussion group
Join Skywire Chinese Telegram community:
Global community:
Join Skywire official Telegram community:
Join Skywug forum:
submitted by ChocolateyLab to skycoin [link] [comments]

Introducing Token Report

Right now, the crypto investor community is unlike any other: It is a heady mix of whales, hodlers, traders, newcomers and institutions. Token Report is a tokenized revision of the Wall Street financial research model, designed for this community. Its token mechanics are designed to grow with the crypto investor community and preserve investor edge for subscribers as the market expands and grows more complex.
Ethereum’s network has become the blockchain of choice for developers of new tokenized projects. Querying the Ethereum network shows that, as of the second half of 2017, approximately 500,000 Ethereum addresses had transacted in at least one token. Of these, approximately 40,000 had bought or sold three or more. Many diversified buyers hold multiple addresses. Nonetheless, we have used this number to make a wide-angle estimate of the number of diversified token investors--the total addressable market for Token Report in the second half of 2017.
Many observers have compared the rise of blockchain technology and cryptocurrency to the emergence of the internet in the late 1990s. From 1995 to 1996, the number of online trading accounts quadrupled. The following year, it grew by 167 percent. The rate of growth continued to cool each following year, settling to a modest 43 percent rate of growth between 1999 and 2000. If cryptocurrency trading grows at a similar pace, Token Report’s total addressable market of diversified crypto investors will grow to 735,000 by 2020.
We have built what we believe to be the world’s largest database of verified information on ICOs and a research system that is capable of covering nearly every tokenization that emerges. Here are some of our first products:
Meet the team and our advisors:
Details on our token mechanics and the terms of our presale and our Nov. 28 ICO:
Thanks for your interest in Token Report. Tell us what more you want to know and we’ll update this post. Or, please join us on Telegram with questions, comments and analysis.
submitted by galenmoore to icocrypto [link] [comments]

New people please read this. [upvote for visibility please]

I am seeing too many new people come and and getting confused. Litecoin wiki isn't the greatest when it comes to summing up things so I will try to do things as best as I can. I will attempt to explain from what I have learned and answer some questions. Hopefully people smarter than me will also chime in. I will keep this post updated as much as I can.
Litecoin is a type to electronic currency. It is just like Bitcoin but it there are differences. Difference explained here.
If you are starting to mine now chances are that you have missed the Bitcoin mining train. If you really want your time and processing power to not go to waste you should mine LTC because the access to BTC from there is much easier.
Mining. What is it?
Let's get this straight. When making any financial commitment to this be prepared to do it with "throw away" money. Mining is all about the hashrate and is measured in KH/s (KiloHash/sec). Unlike the powerful ASICs (Application Specific Integrated Circuit) that are used to mine bitcoins using hashrates in the GH/s and even TH/s, litecoin mining has only been able to achieve at the very best MH/s. I think the highest I've seen is 130 MH/s so far. Which leads us to our next section.
Mining Hardware
While CPU mining is still a thing it is not as powerful as GPU mining. Your laptop might be able to get 1 a month. However, I encourage you to consult this list first. List of hardware comparison You will find the highest of processors can maybe pull 100 KH/s and if we put this into a litecoin mining calculator it doesn't give us much.
Another reason why you don't want to mine with your CPU is pretty simple. You are going to destroy it.
So this leaves us with GPUs. Over the past few months (and years) the HD 7950 has been the favourite because it drains less power and has a pretty good hashrate. But recently the introduction of the R9 290 (not the x) has changed the game a bit. People are getting 850 KH/s - 900 KH/s with that card. It's crazy.
Should I mine?
Honestly given the current difficulty you can make a solid rig for about $1100 with a hashrate of 1700 KH/s which would give you your investment back in about a month and a half. I am sure people out there can create something for much cheaper. Here is a good example of a setup as suggested by dystopiats
PCPartPicker part list / Price breakdown by merchant / Benchmarks
Type Item Price
CPU AMD Sempron 145 2.8GHz Single-Core Processor $36.01 @ Amazon
Motherboard ASRock 970 EXTREME4 ATX AM3+ Motherboard $99.48 @ OutletPC
Memory Crucial Ballistix Tactical Tracer 4GB (1 x 4GB) DDR3-1866 Memory $59.99 @ Newegg
Video Card Sapphire Radeon HD 7950 3GB Video Card (3-Way CrossFire) $245.38 @ Newegg
Video Card Sapphire Radeon HD 7950 3GB Video Card (3-Way CrossFire) $245.38 @ Newegg
Video Card Sapphire Radeon HD 7950 3GB Video Card (3-Way CrossFire) $245.38 @ Newegg
Power Supply SeaSonic Platinum 860W 80+ Platinum Certified Fully-Modular ATX Power Supply $146.98 @ SuperBiiz
Prices include shipping, taxes, and discounts when available. $1078.60
Generated by PCPartPicker 2013-11-29 00:52 EST-0500
Estimated Hashrate (with GPU overclocking) : 1900 KH/s
Hardware Fundamentals
CPU - Do you need a powerful CPU? No but make sure it is a decent one. AMD CPUs are cheap to buy right now with tons of power. Feel free to use a Sempron or Celeron depending on what Motherboard you go with.
RAM - Try to get at least 4 GB so as to not run into any trouble. Memory is cheap these days. I am saying 4 GB only because of Windoze. If you are plan to run this on Linux you can even get away with less memory.
HDD Any good ol 7200 RPM hard drive will do. Make sure it is appropriate. No point in buying a 1TB hard drive. Since, this is a newbie's guide I assumed most won't know how to run linux, but incase you do you can get a USB flash drive and run linux from it thus removing the need for hard drive all toghether. (thanks dystopiats)
GPU - Consult the list of hardware of hardware I posted above. Make sure you consider the KH/s/W ratio. To me the 290 is the best option but you can skimp down to 7950 if you like.
PSU - THIS IS BLOODY IMPORTANT. Most modern GPUs are power hungry so please make sure you are well within the limits of your power consumption.
MOTHERBOARD - Ok, so a pretty popular board right now is Gigabyte GA-990FXA-UD3 and the ASRock 970 Extreme4. Some people are even going for Gigabyte GA-990FXA-UD5 and even the mighty Gigabyte GA-990FXA-UD7 because it has more PCI-E slots. 6 to be exact. However you may not need that much. With risers you can get more shoved into less.
PCI-E RISERS - These are called risers. They come in x16 to x16 and x1 to x16 connections. Here is the general rule of thumb. This is very important. Always get a POWERED riser otherwise you will burn a hole in your MoBo. A powered rise as a molex connector so that additional power from PSU can be supplied.
When it comes to hardware I've provided the most basic knowledge you need. Also, take a look at cryptobader's website. This is very helpful. Please visit the mining section of Litecoin Forums and the litecoinmining subreddit for more indepth info.
Mining Software
Now that you have assembled your hardware now you need to get into a pool. But before you do that you need a mining software. There are many different ones but the one that is most popular is cgminer. Download it and make sure you read the README. It is a very robust piece of software. Please read this if you want to know more. (thanks BalzOnYer4Head)
Mining Pools
Now that your hardware and software is ready. I know nothing about solo mining other than the fact that you have to be very lucky and respectable amount of hashing power to decrypt a block. So it is better to join pools. I have been pool hopping for a bit and really liked give-me-coin previously known to the community as give-me-ltc. They have a nice mobile app and 0% pool fees. This is really a personal preference. Take a look at this list and try some yourself.
How do I connect to a pool?
Most pools will give you a tutorial on how to but the basics are as follows:
  • Signup for a pool
  • Create a worker for your account. Usually one worker per rig (Yes people have multiple rigs) is generally a good idea.
  • Create a .run file. Open up notepad and type cgminer.exe -o (address_to_the_miningpool:port_number) -u (yourusername.workername) -p (your_worker_password_if_you_made_one). Then File>Save As> (Make sure the drop down is set to "All Files" and .txt document.) and save in the same folder as cgminer. That's it.
  • Double click on (or whatever you named it) and have fun mining.
Mining Profitability
This game is not easy. If it was, practically everyone would be doing it. This is strictly a numbers game and there are calculations available that can help you determine your risk on your investments. 4 variables you need to consider when you are starting to mine:
Hardware cost: The cost of your physical hardware to run this whole operation.
Power: Measured in $/KwH is also known as the operating cost.
Difficulty rate: To put it in layman's terms the increase in difficulty is inversely proportional to amount of coin you can mine. The harder the difficulty the harder it is to mine coin. Right now difficulty is rising at about 18% per 3 days. This can and will change since all you miners are soon going to jump on the band wagon.
Your sanity: I am not going to tell you to keep calm and chive on because quiet frankly that is stupid. What I will tell you not to get too carried away. You will pull you hair out. Seriously.
Next thing you will need is a simple tool. A mining profitability calculator. I have two favourite ones.
I like this one cause it is simple. The fields are self explanatory. Try it.
I like this one because it is a more real life scenario calculator and more complicated one (not really). It also takes increasing difficulty into account.
Please note: This is the absolute basic info you need. If you have more questions feel free to ask and or google it!
More Below.
submitted by craeyon to litecoin [link] [comments]

BlockTorrent: The famous algorithm which BitTorrent uses for SHARING BIG FILES. Which you probably thought Bitcoin *also* uses for SHARING NEW BLOCKS (which are also getting kinda BIG). But Bitcoin *doesn't* torrent *new* blocks (while relaying). It only torrents *old* blocks (while sync-ing). Why?

This post is being provided to further disseminate an existing proposal:
This proposal was originally presented by jtoomim back in September of 2015 - on the bitcoin_dev mailing list (full text at the end of this OP), and on reddit:
Here's a TL;DR, in his words:
For initial block sync, [Bitcoin] sort of works [like BitTorrent] already.
You download a different block from each peer. That's fine.
However, a mechanism does not currently exist for downloading a portion of each [new] block from a different peer.
That's what I want to add.
~ jtoomim
The more detailed version of this "BlockTorrenting" proposal (as presented by jtoomim on the bitcoin_dev mailing list) is linked and copied / reformatted at the end of this OP.
Meanwhile here are some observations from me as a concerned member of the Bitcoin-using public.
Bitcoin doesn't do this kind of "blocktorrenting" already??
But.. But... I thought Bitcoin was "p2p" and "based on BitTorrent"...
... because (as we all know) Bitcoin has to download giant files.
Bitcoin only "torrents" when sharing one certain kind of really big file: the existing blockchain, when a node is being initialized.
But Bitcoin doesn't "torrent" when sharing another certain kind of moderately big file (a file whose size, by the way, has been notoriously and steadily growing over the years to the point where the system running the legacy "Core"/Blockstream Bitcoin implementation is starting to become dangerously congested - no matter what some delusional clowns "Core" devs may say): ie, the world's most wildly popular, industrial-strength "p2p file sharing algorithm" is mysteriously not being used where the Bitcoin network needs it the most in order to get transactions confirmed on-chain: when a a newly found block needs to be shared among nodes, when a node is relaying new blocks.
How many of you (honestly) just simply assumed that this algorithm was already being used in Bitcoin - since we've all been told that "Bitcoin is p2p, like BitTorrent"?
As it turns out - the only part of Bitcoin which has been p2p up until now is the "sync-ing a new full-node" part.
The "running an existing full-node" part of Bitcoin has never been implemented as truly "p2p2" yet!!!1!!!
And this is precisely the part of the system that we've been wasting all of our time (and destroying the community) fighting over for the past few months - because the so-called "experts" from the legacy "Core"/Blockstream Bitcoin implementation ignored this proposal!
Why have all the so-called "experts" at "Core"/Blockstream ignored this obvious well-known effective & popular & tested & successful algorithm for doing "blocktorrenting" to torrent each new block being relayed?
Why have the "Core"/Blockstream devs failed to p2p-ize the most central, fundamental networking aspect of Bitcoin - the part where blocks get propagated, the part we've been fighting about for the past few years?
This algorithm for "torrenting" a big file in parallel from peers is the very definition of "p2p".
It "surgically" attacks the whole problem of sharing big files in the most elegant and efficient way possible: right at the lowest level of the bottleneck itself, cleverly chunking a file and uploading it in parallel to multiple peers.
Everyone knows torrenting works. Why isn't Bitcoin using it for its new blocks?
As millions of torrenters already know (but evidently all the so-called "experts" at Core/Blocsktream seem to have conveniently forgotten), "torrenting" a file (breaking a file into chunks and then offering a different chunk to each peer to "get it out to everyone fast" - before your particular node even has the entire file) is such a well-known / feasible / obvious / accepted / battle-tested / highly efficient algorithm for "parallelizing" (and thereby significantly accelerating) the sharing of big files among peers, that many people simply assumed that Bitcoin had already been doing this kind of "torrenting of new-blocks" these whole past 7 years.
But Bitcoin doesn't do this - yet!
None of the Core/Blockstream devs (and the Chinese miners who follow them) have prioritized p2p-izing the most central and most vital and most resource-consuming function of the Bitcoin network - the propagation of new blocks!
Maybe it took someone who's both a miner and a dev to "scratch" this particular "itch": Jonathan Toomim jtoomim.
  • A miner + dev who gets very little attention / respect from the Core/Blockstream devs (and from the Chinese miners who follow them) - perhaps because they feel threatened by a competing implementation?
  • A miner + dev who may have come up with the simplest and safest and most effective algorithmic (ie, software-based, not hardware-consuming) scaling proposal of anyone!
  • A dev who who is not paid by Blockstream, and who is therefore free from the secret, undisclosed corporate restraints / confidentiality agreements imposed by the shadowy fiat venture-capitalists and legacy power elite who appear to be attempting to cripple our code and muzzle our devs.
  • A miner who has the dignity not to let himself be forced into signing a loyalty oath to any corporate overlords after being locked in a room until 3 AM.
Precisely because jtoomim is both a indepdendent miner and an independent dev...
  • He knows what needs to be done.
  • He knows how to do it.
  • He is free to go ahead and do it - in a permissionless, decentralized fashion.
Possible bonus: The "blocktorrent" algorithm would help the most in the upload direction - which is precisely where Bitcoin scaling needs the most help!
Consider the "upload" direction for a relatively slow full-node - such as Luke-Jr, who reports that his internet is so slow, he has not been able to run a full-node since mid-2015.
The upload direction is the direction which everyone says has been the biggest problem with Bitcoin - because, in order for a full-node to be "useful" to the network:
  • it has to able to upload a new block to (at least) 8 peers,
  • which places (at least) 8x more "demand" on the full-node's upload bandwidth.
The brilliant, simple proposed "blocktorrent" algorithm from jtoomim (already proven to work with Bram Cohen's BitTorrent protocol, and also already proven to work for initial sync-ing of Bitcoin full-nodes - but still un-implemented for ongoing relaying among full-nodes) looks like it would provide a significant performance improvement precisely at this tightest "bottleneck" in the system, the crucial central nexus where most of the "traffic" (and the congestion) is happening: the relaying of new blocks from "slower" full-nodes.
The detailed explanation for how this helps "slower" nodes when uploading, is as follows.
Say you are a "slower" node.
You need to send a new block out to (at least) 8 peers - but your "upload" bandwidth is really slow.
If you were to split the file into (at least) 8 "chunks", and then upload a different one of these (at least) 8 "chunks" to each of your (at least) 8 peers - then (if you were using "blocktorrenting") it only would take you 1/8 (or less) of the "normal" time to do this (compared to the naïve legacy "Core" algorithm).
Now the new block which your "slower" node was attempting to upload is already "out there" - in 1/8 (or less) of the "normal" time compared to the naïve legacy "Core" algorithm.[ 1 ]
... [ 1 ] There will of course also be a tiny amount of extra overhead involved due to the "housekeeping" performed by the "blocktorrent" algorithm itself - involving some additional processing and communicating to decompose the block into chunks and to organize the relaying of different chunks to different peers and the recompose the chunks into a block again (all of which, depending on the size of the block and the latency of your node's connections to its peers, would in most cases be negligible compared to the much-greater speed-up provided by the "blocktorrent" algorithm itself).
Now that your block is "out there" at those 8 (or more) peer nodes to whom you just blocktorrented it in 1/8 (or less) of the time - it has now been liberated from the "bottleneck" of your "slower" node.
In fact, its further propagation across the net may now be able to leverage much faster upload speeds from some other node(s) which have "blocktorrent"-downloaded it in pieces from you (and other peers) - and which might be faster relaying it along, than your "slower" node.
For some mysterious reason, the legacy Bitcoin implementation from "Core"/Blockstream has not been doing this kind of "blocktorrenting" for new blocks.
It's only been doing this torrenting for old blocks. The blocks that have already been confirmed.
Which is fine.
But we also obviously need this sort of "torrenting" to be done for each new block is currently being confirmed.
And this is where the entire friggin' "scaling bottleneck" is occurring, which we just wasted the past few years "debating" about.
Just sit down and think about this for a minute.
We've had all these so-called "experts" (Core/Blockstream devs and other small-block proponents) telling us for years that guys like Hearn and Gavin and repos like Classic and XT and BU were "wrong" or at least "unserious" because they "merely" proposed "brute-force" scaling: ie, scaling which would simply place more demands on finite resources (specifically: on the upload bandwidth from full-nodes - who need to relay to at least 8 peer full-nodes in order to be considered "useful" to the network).
These "experts" have been beating us over the head this whole time, telling us that we have to figure out some (really complicated, unproven, inefficient and centralized) clever scaling algorithms to squeeze more efficiency out of existing infrastructure.
And here is the most well-known / feasible / obvious / accepted / battle-tested algorithm for "parallelizing" (and thereby massively accelerating) the sharing of big file among peers - the BitTorrent algorithm itself, the gold standard of p2p relaying par excellence, which has been a major success on the Internet for decades, at one point accounting for nearly 1/3 of all traffic on the Internet itself - and which is also already being used in one part of Bitcoin: during the phase of sync-ing a new node.
And apparently pretty much only jtoomim has been talking about using it for the actual relaying of new blocks - while Core/Blockstream devs have so far basically ignored this simple and safe and efficient proposal.
And then the small-block sycophants (reddit users or wannabe C/C++ programmers who have beaten into submission and/or by the FUD and "technological pessimism" of the Core/Blockstream devs, and by the censorhip on their legacy forum), they all "laugh" at Classic and proclaim "Bitcoin doesn't need another dev team - all the 'experts' are at Core / Blockstream"...
...when in fact it actually looks like jtoomim (an independent minedev, free from the propaganda and secret details of the corporate agenda of Core/Blockstream - who works on the Classic Bitcoin implementation) may have proposed the simplest and safest and most effective scaling algorithm in this whole debate.
By the way, his proposal estimates that we could get about 1 magnitude greater throughput, based on the typical latency and blocksize for blocks of around 20 MB and bandwidth of around 8 Mbps (which seems like a pretty normal scenario).
So why the fuck isn't this being done yet?
This is such a well-known / feasible / obvious / accepted / battle-tested algorithm for "parallelizing" (and thereby significantly accelerating) the sharing of big files among peers:
  • It's already being used for the (currently) 65 gigabytes of "blocks in the existing blockchain" itself - the phase where a new node has to sync with the blockchain.
  • It's already being used in BitTorrent - although the BitTorrent protocol has been optimized more to maximize throughput, whereas it would probably be a good idea to optimize the BlockTorrent protocol to minimize latency (since avoiding orphans is the big issue here) - which I'm fairly sure should be quite doable.
This algorithm is so trivial / obvious / straightforward / feasible / well-known / proven that I (and probably many others) simply assumed that Bitcoin had been doing this all along!
But it has never been implemented.
There is however finally a post about it today on the score-hidden forum /Bitcoin, from eragmus:
[bitcoin-dev] BlockTorrent: Torrent-style new-block propagation on Merkle trees
And, predictably, the top-voted comment there is a comment telling us why it will never work.
And the comment after that comment is from the author of the proposal, jtoomim, explaining why it would work.
Score hidden on all those comments.
Because the immature tyrant theymos still doesn't understand the inherent advantages of people using reddit's upvoting & downvoting tools to hold decentralized, permissionless debates online.
(1) Would this "BlockTorrenting" algorithm from jtoomim really work?
(2) If so, why hasn't it been implemented yet?
(3) Specifically: With all the "dev firepower" (and $76 million in venture capital) available at Core/Blockstream, why have they not prioritized implementing this simple and safe and highly effective solution?
(4) Even more specifically: Are there undisclosed strategies / agreements / restraints imposed by Blockstream financial investors on Bitcoin "Core" devs which have been preventing further discussion and eventual implementation of this possible simple & safe & efficient scaling solution?
Here is the more-detailed version of this proposal, presented by Jonathan Toomim jtoomim back in September of 2015 on the bitcoin-dev mailing list (and pretty much ignored for months by almost all the "experts" there):
As I understand it, the current block propagation algorithm is this:
  1. A node mines a block.
  2. It notifies its peers that it has a new block with an inv. Typical nodes have 8 peers.
  3. The peers respond that they have not seen it, and request the block with getdata [hash].
  4. The node sends out the block in parallel to all 8 peers simultaneously. If the node's upstream bandwidth is limiting, then all peers will receive most of the block before any peer receives all of the block. The block is sent out as the small header followed by a list of transactions.
  5. Once a peer completes the download, it verifies the block, then enters step 2.
(If I'm missing anything, please let me know.)
The main problem with this algorithm is that it requires a peer to have the full block before it does any uploading to other peers in the p2p mesh. This slows down block propagation to:
O( p • log_p(n) ) 
  • n is the number of peers in the mesh,
  • p is the number of peers transmitted to simultaneously.
It's like the Napster era of file-sharing. We can do much better than this.
Bittorrent can be an example for us.
Bittorrent splits the file to be shared into a bunch of chunks, and hashes each chunk.
Downloaders (leeches) grab the list of hashes, then start requesting their peers for the chunks out-of-order.
As each leech completes a chunk and verifies it against the hash, it begins to share those chunks with other leeches.
Total propagation time for large files can be approximately equal to the transmission time for an FTP upload.
Sometimes it's significantly slower, but often it's actually faster due to less bottlenecking on a single connection and better resistance to packet/connection loss.
(This could be relevant for crossing the Chinese border, since the Great Firewall tends to produce random packet loss, especially on encrypted connections.)
Bitcoin uses a data structure for transactions with hashes built-in. We can use that in lieu of Bittorrent's file chunks.
A Bittorrent-inspired algorithm might be something like this:
  1. (Optional steps to build a Merkle cache; described later)
  2. A seed node mines a block.
  3. It notifies its peers that it has a new block with an extended version of inv.
  4. The leech peers request the block header.
  5. The seed sends the block header. The leech code path splits into two.
  6. (a) The leeches verify the block header, including the PoW. If the header is valid,
  7. (a) They notify their peers that they have a header for an unverified new block with an extended version of inv, looping back to 2. above. If it is invalid, they abort thread (b).
  8. (b) The leeches request the Nth row (from the root) of the transaction Merkle tree, where N might typically be between 2 and 10. That corresponds to about 1/4th to 1/1024th of the transactions. The leeches also request a bitfield indicating which of the Merkle nodes the seed has leaves for. The seed supplies this (0xFFFF...).
  9. (b) The leeches calculate all parent node hashes in the Merkle tree, and verify that the root hash is as described in the header.
  10. The leeches search their Merkle hash cache to see if they have the leaves (transaction hashes and/or transactions) for that node already.
  11. The leeches send a bitfield request to the node indicating which Merkle nodes they want the leaves for.
  12. The seed responds by sending leaves (either txn hashes or full transactions, depending on benchmark results) to the leeches in whatever order it decides is optimal for the network.
  13. The leeches verify that the leaves hash into the ancestor node hashes that they already have.
  14. The leeches begin sharing leaves with each other.
  15. If the leaves are txn hashes, they check their cache for the actual transactions. If they are missing it, they request the txns with a getdata, or all of the txns they're missing (as a list) with a few batch getdatas.
Features and benefits
The main feature of this algorithm is that a leech will begin to upload chunks of data as soon as it gets them and confirms both PoW and hash/data integrity instead of waiting for a fully copy with full verification.
Inefficient cases, and mitigations
This algorithm is more complicated than the existing algorithm, and won't always be better in performance.
Because more round trip messages are required for negotiating the Merkle tree transfers, it will perform worse in situations where the bandwidth to ping latency ratio is high relative to the blocksize.
Specifically, the minimum per-hop latency will likely be higher.
This might be mitigated by reducing the number of round-trip messages needed to set up the BlockTorrent by using larger and more complex inv-like and getdata-like messages that preemptively send some data (e.g. block headers).
This would trade off latency for bandwidth overhead from larger duplicated inv messages.
Depending on implementation quality, the latency for the smallest block size might be the same between algorithms, or it might be 300% higher for the torrent algorithm.
For small blocks (perhaps < 100 kB), the BlockTorrent algorithm will likely be slightly slower.
Sidebar from the OP: So maybe this would discourage certain miners (cough Dow cough) from mining blocks that aren't full enough:
Why is [BTCC] limiting their block size to under 750 all of a sudden?

For large blocks (e.g. 8 MB over 20 Mbps), I expect the BlockTorrent algo will likely be around an order of magnitude faster in the worst case (adversarial) scenarios, in which none of the block's transactions are in the caches.

One of the big benefits of the BlockTorrent algorithm is that it provides several obvious and straightforward points for bandwidth saving and optimization by caching transactions and reconstructing the transaction order.

Future work: possible further optimizations
A cooperating miner [could] pre-announce Merkle subtrees with some of the transactions they are planning on including in the final block.
Other miners who see those subtrees [could] compare the transactions in those subtrees to the transaction sets they are mining with, and can rearrange their block prototypes to use the same subtrees as much as possible.
In the case of public pools supporting the getblocktemplate protocol, it might be possible to build Merkle subtree caches without the pool's help by having one or more nodes just scraping their getblocktemplate results.
Even if some transactions are inserted or deleted, it [might] be possible to guess a lot of the tree based on the previous ordering.
Once a block header and the first few rows of the Merkle tree [had] been published, they [would] propagate through the whole network, at which time full nodes might even be able to guess parts of the tree by searching through their txn and Merkle node/subtree caches.
That might be fun to think about, but probably not effective due to O( n2 ) or worse scaling with transaction count.
Might be able to make it work if the whole network cooperates on it, but there are probably more important things to do.
Leveraging other features from BitTorrent
There are also a few other features of Bittorrent that would be useful here, like:
  • prioritizing uploads to different peers based on their upload capacity,
  • banning peers that submit data that doesn't hash to the right value.
Sidebar from the OP: Hmm...maybe that would be one way to deal with the DDoS-ing we're experiencing right now? I know the DDoSer is using a rotating list of proxies, but still it could be a quick-and-dirty way to mitigate against his attack.
DDoS started again. Have a nice day, guys :)
(It might be good if we could get Bram Cohen to help with the implementation.)
Using the existing BitTorrent algorithm as-is - versus tailoring a new algorithm optimized for Bitcoin
Another possible option would be to just treat the block as a file and literally Bittorrent it.
But I think that there should be enough benefits to integrating it with the existing bitcoin p2p connections and also with using bitcoind's transaction caches and Merkle tree caches to make a native implementation worthwhile.
Also, BitTorrent itself was designed to optimize more for bandwidth than for latency, so we will have slightly different goals and tradeoffs during implementation.
Concerns, possible attacks, mitigations, related work
One of the concerns that I initially had about this idea was that it would involve nodes forwarding unverified block data to other nodes.
At first, I thought this might be useful for a rogue miner or node who wanted to quickly waste the whole network's bandwidth.
However, in order to perform this attack, the rogue needs to construct a valid header with a valid PoW, but use a set of transactions that renders the block as a whole invalid in a manner that is difficult to detect without full verification.
However, it will be difficult to design such an attack so that the damage in bandwidth used has a greater value than the 240 exahashes (and 25.1 BTC opportunity cost) associated with creating a valid header.
Related work: IBLT (Invertible Bloom Lookup Tables)
As I understand it, the O(1) IBLT approach requires that blocks follow strict rules (yet to be fully defined) about the transaction ordering.
If these are not followed, then it turns into sending a list of txn hashes, and separately ensuring that all of the txns in the new block are already in the recipient's mempool.
When mempools are very dissimilar, the IBLT approach performance degrades heavily and performance becomes worse than simply sending the raw block.
This could occur if a node just joined the network, during chain reorgs, or due to malicious selfish miners.
Also, if the mempool has a lot more transactions than are included in the block, the false positive rate for detecting whether a transaction already exists in another node's mempool might get high for otherwise reasonable bucket counts/sizes.
With the BlockTorrent approach, the focus is on transmitting the list of hashes in a manner that propagates as quickly as possible while still allowing methods for reducing the total bandwidth needed.
The BlockTorrent algorithm does not really address how the actual transaction data will be obtained because, once the leech has the list of txn hashes, the standard Bitcoin p2p protocol can supply them in a parallelized and decentralized manner.
submitted by ydtm to btc [link] [comments]

The /r/btc China Dispatch: Episode 12 - Recent Rise in Reports of Pro-Core Censorship on the Bikeji Forum Moderated by HaoBTC CEO

The recent gains made by Classic in terms of node count and hash rate in the last two weeks have not gone unnoticed in the Chinese bitcoin community and efforts by nextblast and others to translate critical information, such as the Classic Roadmap and statements by KnC, Brian Armstrong, etc. from English to Chinese have been effective in granting a large number of Chinese users access to the most up-to-date information and analysis regarding the Core-Blockstream Problem which have been propagated through uncompromised and censorship-free Western forums such as /btc, and Informal polling and the general sentiment on 8btc seems to indicate a diminishing level of patience with Core/Blockstream and obvious pro-Core propaganda and talking points are increasingly called out for being bereft of any real logic. See here and here for examples of this trend. Though I unfortunately don’t have time to cover all of these types of posts with full human translations, those interested in digging further can get the gist of what’s going on using machine translation tools like Google Translate.
What is most interesting, however, is that we are currently seeing the same reaction to this proliferation of information and discussion that we saw several months ago in the English-speaking bitcoin world: that is, certain parties in positions of power within the community have taken it upon themselves to “stem the tide” of anti-Core sentiment using aggressive censorship techniques, including wholesale deletion of threads, bans, and various shenanigans to limit participation and obfuscate community sentiment. Sound familiar? Fortunately, unlike the English speaking community, which has had to endure a painful decentralization process due to censorship of its formerly highly centralized communications channels, the Chinese bitcoin community’s largest and most active forum, 8btc, remains free and uncompromised. Sadly, the same cannot be said for the slightly smaller but still well-trafficked Bikeji, which is moderated by the CEO of HaoBTC, Wu Gang, under the handle XingKong (“Starry Sky”).
Multiple posts have cropped up on 8btc over the last several days detailing wholesale censorship of “problematic” pro-Classic threads on Bikeji (see here for an example), and Wu Gang has gone on record on Bikeji saying “yes, I’m going to throw mud at Classic, come and get me!” (as previously documented on /btc here). Mr. Wu appears to be unapologetically anti-Classic and, in true Theymosian fashion, is willing to use his power to stifle any discussion which does not meet his “quality standards.”
A large number of 8btc users have not surprisingly taken a very dim view of this behavior and many users have actively called out the censorship. One such thread is translated below. It will be interesting to see how this issue plays out over the next week or so, but the parallels to the historical trajectory of the English-speaking community are quite interesting.
Special Addendum: By popular demand, here is a bitcoin address for people who wish to donate to /btc’s translation efforts but do not wish to use changetip: 1GZiWNFDkike5WrkQZdFcqgY5iR3U89YgK. I will use funds in this address, as well as funds donated through changetip, to reward translators who either contribute their translations here or translate important English content into Chinese or other critical foreign languages. I think that the last month has shown that keeping robust and free channels for communication open between the various bitcoin communities is useful in ensuring that blockchain governance and development works as it should and bad information and arguments are driven out by good.
Posted by: thesceptic (Crew Member)
Subject: Bikeji is a joke. Not only are they deleting posts, they’re also preventing people from making comments.
Recently the so-called “open platform” known as Bikeji has completely turned into Core’s turf.
Not only are they deleting posts, they’re also not letting anyone with less than 1,200 karma make comments. This is totally unacceptable.
[Response #1]
Posted by: lyf20617 (First Mate)
Agreed. Just stop going there. Let them enjoy their little circle jerk. =D
[Response #2]
Posted by: Little_Wardrobe (Crew Member)
Bikeji - HQ for the Church of Bitcoinology. I think you know what I mean, OP.
[Response #3]
Posted by: DogeCoin-Keeper (Pirate King)
I can’t imagine that a platform that doesn’t stay neutral will be able to live on for much longer.
[Response #4]
Posted by: Small_Bird_Takes_Flight (Crew Member)
Why even bother going there? Not only are they small now they have no freedom of speech. It’s just a matter of time before they look more and more like a wasteland. 8btc has lots of posters and rich resources plus free speech. Nothing like breathing free air.
[Response #5]
Posted by: kcb (Trainee Moderator)
No wonder everyone on their forum is making posts about how they’re selling off stock in the Bikeji platform.
[Response #6]
Posted by Shuiwuhun (Squad Leader)
This is exactly that same disgraceful way that Core has conducted itself on Reddit. Core and Core shills are an embarrassment to themselves.
[*Response #7]
Posted by thesceptic (Crew Member)
After coming to 8btc I discovered that the direction of public opinion is definitely very different. Looks like I was in the wrong place before.
[Response #8]
Posted by jb9802 (First Mate)
Don’t even bother going there. 8btc is all you need.
[Response #9]
Posted by: DogeCoin-Keeper (Pirate King)
I’ve never even been to Bikeji. They really need to step up their PR game, haha.
[Response #10]
Posted by: DogeCoin-Keeper (Pirate King)
There’s no “direction” here. Use your own judgement to form your own opinions.
[Response #12]
Posted by: sosobtc-Cai_Wenhao (Crew Member)
A platform should always be neutral.
[Response #13]
Posted by: Ma_Ya (Trainee Moderator)
I was originally attracted over there by @ahr999’s “Nine Gods” program.
Bikeji self-identifies as a higher-end platform.
Not only do you not get any karma for posting comments, it actually subtracts from your karma score and posting @ other users also subtracts from your score. You only get karma added to your score if your post is replied to or someone else posts @ you. Also, any posts that are designated as “Original Content” or “Cream of the Crop” also add to your score and you get an additional 5 karma when you log in every day. Is it really true that they have a new rule that you can’t post until you get 1,200 karma? If that’s the case you have to log in and lurk for 40 days before you can even post! It’s probably just temporary, otherwise that’s pretty cultish behavior.
However, the technical proficiency of the “verified” users on their forums is quite high.
Bikeji has to have its own character, otherwise it’s just like 8btc and won’t be able to complete with 8btc. Therefore they position themselves differently and the two complement each other.
People who want to learn the fundamentals of bitcoin can go to Bikeji.
I post on both forums and both forums fill a need.
[Response #14]
Posted by: coinspay
I heard that Bikeji’s original shares actually have gone up. Since they can be benchmarked to 8btc, with the crowdfunding valuation of 8btc so high the valuation of Bikeji will correspondingly go up a lot. =O
[Response #15]
Posted by: nxttyisgood
I can’t believe what a superiority complex these people have. Crushing these losers and idiots is like crushing ants.
[Response 16]
Posted by DogeCoin-Keeper
If it exists it must have a reason for existing and keeping an eye on both sides is better than only looking at one. That I agree with. However, personally I prefer freedom. If 8btc had too many rules, then I would definitely set up shop elsewhere. I like places that are freer. Though on many forums you will see plenty of trolls and shills, I feel like this is just a normal environment. Though there may be some statements or language that I despise, it is freedom that makes forums attractive to people. What I think is wrong is not necessarily always wrong since I’m not a god. We’re talking a lot of smack about Bikeji here but we might discover in the future that their point of view is correct.
submitted by KoKansei to btc [link] [comments]

Announcing franceos, an EOS block producer candidate
franceos is a group of French crypto-economic players who are candidates for block production on the decentralized EOS network.
Franceos team members are proud to be the first to represent France on the delegate list. All share the same vision of decentralized value exchange systems, through the following core principles.
EOS is the most ambitious project ever developed in the crypto-economic universe and we are convinced that EOS will become the platform of choice to deploy decentralized applications. EOS consensus system (delegated proof of stake) is the most elegant solution to maintain a scalable and solid network while remaining sufficiently decentralized. We therefore propose our application to become a block producer.

Our mission

The franceos team
Nazim Morera - Chief Executive Officer Born from Digital Marketing serving major groups in the real estate and banking sector, Nazim Morera is involved in 2013 in the Bitcoin / blockchains ecosystem. Co-founder of BitConseil, expert in digital, marketing and distributed ledger protocols, Nazim Morera assists companies in their blockchain transformation and fundraising projects via blockchain assets.
Adrien Bensaïbi - Chief Technical Officer Founder of ADAPP. Node operator since 2015 for various blockchains. Expert in scalability and web availability issues. He is interested in EOS in production. developer C++ , Rust and Linux. Active member of the Cercle du Coin, organizer of the BitcoinTalksLille meetup.
Morgan Phuc Calmejane - IT Director Born from a university degree (mathematics and physics), he co-founded in 2014. Editor-in-chief of this analytical site and associate editor-in-chief of He is also a trainer in distributed ledgers and crypto-economics at BitConseil's training centre.
Lucas Ermisse - Chief Operating Officer A lawyer by training, and convinced by the emancipatory potential of Bitcoin and crypto-currencies, he launched alongside Romain Didierlaurent in June 2017. He has since taken on the role of editor-in-chief and leads a team of journalists on a daily basis to cover all crypto-active news.
Robin Calmejane - Lead Developer Trained since 2005 in web development and webdesign, he discovered Bitcoin in 2014 and found a passion for blockchain systems, smart contracts and other decentralized applications (dapps). Co-founder of BitConseil, he firmly believes in the economic-political innovation of these protocols.
Adrien Jund - Lead Developer R&D project manager and C/C++ developer in the field of RFID security. Active contributor in open source and maintainer of the Dokany project, reference like the FUSE for Windows. Crypto-enthusiast, he is involved about the technical and security aspects of the EOS project and its actual applications.
Benoit Huguet - Chief Investment officer After meeting Bitcoin in Argentina in November 2012, he co-founded BitConseil on his return to France. Very involved in the French-speaking associative fabric, he became administrator of the French-speaking association the Cercle du Coin in 2015 and co-responsible for the historical Bitcoin meet-up in Toulouse. Author, he is also an investor and manages Bitconseil's training department.
Romain Didierlaurent - Chief Marketing Officer Having discovered Bitcoin in 2015 after a long night of insomnia, he creates in June 2017 after having made an observation: the French-speaking environment is developed but it still lacks a media of reference. Very involved in sharing with the French-speaking crypto community, he presents the JTduCoin every week on YouTube.
Why vote for Franceos ?
The members of the franceos team, mainly from the and Journalducoin teams, are established in a sustainable way in the French crypto-economic ecosystem. In addition to our daily involvement in the sector, through BitConseil since 2014 and the Journal du Coin since 2017, our existing structures allow us to reach French-speaking EOS users in particular. Communication will be regular and we will rely on the experience gained at to be seamlessly responsive to EOS announcements and developments. Beginners will benefit from constant support, an activity that has been close to's heart since its inception and we will make many resources available to users to understand EOS or develop decentralized applications.

Node infrastructure : technical description

The servers are hosted by OVH and located near Paris, PCI-DSS accessibility level. They are monitored 24 hours a day, 7 days a week. To start, our servers have the following specifications :

# Servers :

BP Server :
Backup Server :

# Location

# Networking :

# Availability strategy :

franceos scaling plan :

Phase 1 :

Phase 2 :

Phase 3 :

Franceos will have several areas of focus :

The franceos team will propose to developers interested in the project to join us, in order to create tools and interfaces with the EOS network, as well as decentralized applications.

Voting and dividends :

The Franceos team is committed to respecting the EOS constitution.Franceos considers any form of plutocracy ("vote buying") or collusion between block producers as harmful to the network and the community as a whole, and will never engage in this type of activity. Franceos defends a vision that promotes the general interest and is based on the following pillars :
Similarly, Franceos is committed to funding the development of decentralized applications that respect the members' vision :
Franceos will campaign to be elected as a block producer by bringing added value to the ecosystem as a whole, especially to Francophones. Franceos undertakes to communicate regularly on its budget and on the allocation of dividends resulting from the production of blocks, in a totally transparent manner.

By voting for franceos, you give life to a French-speaking EOS community.

submitted by franceos to eos [link] [comments]

(2/6) - Tuesday's Pre-Market Stock Movers & News

Good morning traders of the StockMarket sub! Welcome to Tuesday! Here are your pre-market stock movers & news this morning-


Frontrunning: February 6th




























  • TVIX
  • SPY
  • SVXY
  • XIV
  • UVXY
  • DJIA
  • SPX
  • VXX
  • QQQ
  • AGN
  • NVDA
  • GM
  • CMG
  • DIA
  • CS
  • DNKN
  • NDX
  • SNAP
  • HMNY
  • CMI
  • TPR
  • BP
  • LH
  • EMR
  • CFX
  • DIS
  • SPGI
  • FIS
  • VMIN
  • BDX


General Motors – The automaker beat estimates by 27 cents a share, with quarterly profit of $1.65 per share. Revenue also came in above forecasts. GM saw record income for 2017, although it did take a one-time $7.3 billion non-cash charge related to tax reform.


Allergan – The drug company earned an adjusted $4.86 per share for its latest quarter, 12 cents a share above estimates. Revenue was also above forecasts. Allergan was helped by strong sales growth for products like Botox and Juvederm, although it did see a negative impact from the loss of patent exclusivity for some of its other products.


Tapestry – The company formerly known as Coach earned an adjusted $1.07 per share for its fiscal second quarter, beating the consensus estimate of 89 cents a share. The handbag maker was helped by higher sales for the Coach and Stuart Weitzman brands. Tapestry also raised its full-year forecast.


Centene – The health insurer beat estimates by 4 cents a share, with adjusted quarterly profit of 97 cents per share. Revenue also topped expectations and Centene raised its full-year forecast, as its Affordable Care Act-related business grows and as it benefits from tax reform.


WellCare Health – WellCare reported adjusted quarterly earnings of 32 cents per share, 11 cents a share above estimates. Revenue beat forecasts, as well, benefiting from growth in its Medicare and Medicaid business. WellCare raised its full-year forecast due to benefits from the new tax law.


Becton Dickinson – The medical device maker came in 7 cents a share above estimates, with adjusted quarterly profit of $2.48 per share. Revenue came in above Street projections, helped by strong growth in its life sciences division.


Dunkin' Brands – The restaurant chain reported adjusted quarterly profit of 64 cents per share, 1 cent a share above estimates. Revenue beat forecasts and the company raised its quarterly dividend by 7.75 percent to 34.75 cents per share.


SandRidge Energy – Midstates Petroleum proposed a combination with SandRidge in an all-stock transaction. The proposal comes a few weeks after SandRidge ended a $746 million deal to buy Bonanza Creek Energy following opposition from large shareholders including Carl Icahn.


Lululemon – Lululemon stock is under pressure, following the sudden surprise resignation of CEO Laurent Potdevin, with the yogawear maker only saying he had "fallen short of the company's standards of conduct." No further details were given.


BP – BP posted better than expected profits which were more than double year earlier levels. BP's results were helped by higher prices and production, and the energy giant resumed share buybacks after a three-year hiatus.


Toyota – Toyota raised its full year profit forecast by 10 percent, following a quarterly operating profit that was its best in two years. The automaker's results were helped both by stronger sales in Japan and a weaker yen.


Cirrus Logic – Cirrus reported earnings and revenue that fell below Street forecasts, with weaker smartphone sales a key factor. Cirrus supplies chips that are used in Apple's iPhones.


Pfizer – Pfizer reported upbeat results in a study involving its Xtandi cancer drug to treat early stage prostate cancer. The drug maker said using Xtandi in combination with standard hormone therapy reduced the risk of the disease spreading by 71 percent compared with just using hormone therapy.


Skyworks Solutions — Skyworks reported earnings that topped Street forecasts as well as announcing a new stock buyback program. However, the chipmaker and Apple supplier did issue an outlook that is shy of consensus estimates.


Logitech – Logitech was downgraded to "underweight" from "neutral" at JPMorgan Chase, which cited valuation and cut its price target on the computer peripheral device maker's stock to $40 from $43.




bigbear0083 has no positions in any stocks mentioned. Reddit, moderators, and the author do not advise making investment decisions based on discussion in these posts. Analysis is not subject to validation and users take action at their own risk. bigbear0083 is an admin at the financial forums where this content was originally posted.


What is on everyone's radar for today's trading day ahead here at StockMarket?

I hope you all have an excellent trading day ahead today on this Tuesday, February 6th, 2018! :)

submitted by bigbear0083 to StockMarket [link] [comments]

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