Breaking Bitcoin: Crypto Proponents Discuss Honeywell's 6

Bitcoin mentioned around Reddit: IBM's quantum computers take step out of lab & into real world as companies sign up to use the exotic machines for research /r/worldnews

Bitcoin mentioned around Reddit: IBM's quantum computers take step out of lab & into real world as companies sign up to use the exotic machines for research /worldnews submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Palantir Denies Ownership Of Quantum Computing-Power Bitcoin Mining Company

Palantir Denies Ownership Of Quantum Computing-Power Bitcoin Mining Company submitted by BobsBurgers3Bitcoin to btc [link] [comments]

Couldnt IBM, Microsoft or another company with one of those supercomputers (and even the one company with the quantum computer) be mining A LOT of coin? /r/Bitcoin

Couldnt IBM, Microsoft or another company with one of those supercomputers (and even the one company with the quantum computer) be mining A LOT of coin? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Bitcoin mentioned around Reddit: Google on track for quantum computer breakthrough by end of 2017 - "The company is testing a 20-qubit processor – its most powerful quantum chip yet – and is on target to have a working 49-qubit chip /r/technology

Bitcoin mentioned around Reddit: Google on track for quantum computer breakthrough by end of 2017 - submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Palantir Denies Ownership Of Quantum Computing Power Bitcoin-Mining Company

Palantir Denies Ownership Of Quantum Computing Power Bitcoin-Mining Company submitted by HiroJa to DogeNews [link] [comments]

Palantir Denies Ownership Of Quantum Computing Power Bitcoin-Mining Company

Palantir Denies Ownership Of Quantum Computing Power Bitcoin-Mining Company submitted by Cryptomania_Net to Bitcoin [link] [comments]

Palantir Denies Ownership Of Quantum Computing-Power Bitcoin Mining Company

Palantir Denies Ownership Of Quantum Computing-Power Bitcoin Mining Company submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Johnny test is the best show

All over the internet, I notice you churlish cretins lauding the supposedly intellectual television program known as Rick and Morty to make yourselves appear more intelligent by extension, as you are ardent watchers of the aforementioned show. However, you piddling planarians only succeed in illustrating how vapid you really are, as Rick and Morty has the intellectual depth of a petri dish. Truly, the most noetic show is neither Rick and Morty, the Big Bang Theory, Jimmy Neutron, nor any other deluge of drivel you deludable dimwits bombard your brains with. Rather, it is Johnny Test, a pinnacle of animation, sound design, acting, and plot. Despite this, most of you sniveling sub-10000s (someone with an IQ under 10000: for the record, my IQ is several orders of magnitude higher than this; my reason for my usage of this term is simply because I am partial to the number 10000) will dismiss Johnny Test as another subpar piece of rubbish from Teletoon, but you all fail to realize how much genius goes into producing that show. I have watched Johnny Test since I was a juvenile, and already I bear an IQ so toweringly high no known test can measure it (that is to say, no known test for humans can measure it: when using the scale with which computer processing power is evaluated, I clock in at over 8.3 trecentillion yottaflops). I have memorized every facet of human knowledge and only used 32.8% of my potential intelligence (my remaining neurons I allocate towards personal use, research, and wealthy companies for use as server farms and bitcoin mines). Not only that, but I have transformed all of the atoms in my being into a quantum computer to serve as an extension to my enormous encephalon, which handles the menial tasks and other trivialities associated with existence (such as respiration, ingestion, digestion, socializing, et cetera). Capable of perorating proficiently in every method of communication in the world, I have developed my own language that employs a manifold of grammar rules, and I created it all while thrashing a coalition of humanity’s smartest supercomputers in a game of Tic-Tac-Toe (for those who say that Tic-Tac-Toe is “easy,” think about the all the times you’ve played Tic-Tac-Toe: a majority were ties, no? Think about that, and also about the fact that a single, solitary supercomputer, much less over a dozen, is smarter than millions of you combined). And no, you cannot see me type this language because it is purely telepathic. At this point, I can imagine several of you already typing frantically in a fervent effort to keep your egos afloat in the face of such psychological grandeur. That’s right, the collective intelligence of all of you, if we’re using luminosity as an analogy, is akin to a diminutive candle in comparison to the massive quasar that represents my mind. Confronted with this, most of you will attempt to deride me with paltry, nonsensical invective and vitriolic vituperations to protect what minuscule amount of self-esteem you possess. These predictions are not the result of mere intuition, of course. In actuality, I have run several simulations using my brain alone on the possible consequences of my publication of this digital manuscription. My reply to all of you digital detractors is that if you so desire to demonstrate that you are brainier than I, then arrange for an intellectual debate between you and me on a topic of your choosing, any time or place. My schedule is very pliable as I’ve already won over 4 dozen nobel prizes, so I’m perfectly willing to put a temporary halt to my research, if you could even call it that (I speculate without demur that none of your debate skills will be enough of a problem for me to the point where I will be forced to snap out out of my subconscious simulations to employ the use of those neurons). Besides, I don’t want to be a glory hog and leave none of the secrets of the universe left for unlocking. You know, let the dogs have their day and all of that. I already know that none of you simpletons with your senescent synapses will be able to match up to my vast vernacular and verbiage, my mental dexterity with declension, and my phrenic puissance with my phraseology and pronunciation. In a matter of seconds (or possibly longer, if I’ve overestimated your already positively benthic IQs when running my simulations), you’ll fly into cantankerous conniptions after my consummate trouncing and repudiation of every single one of the “facts” that you hold so dear as proof of your purported intellect. And in response to those who claim, overcome with envy and spite, that as intelligent as I am, I will never sleep with anyone: I don’t need to. I am quite capable of simulating, to the meagerest tactile sensation, every position in the Kama Sutra (as well as a few I myself have devised for maximum oxytocin and endorphin release) simultaneously in a few seconds, and the only reason it takes even that long is because I am prolonging the simulation in order to enjoy the experience: I could do it in hundredths of a millisecond if I so wish. However, for someone with such acute acumen as I, life is far too easy. When pure ennui drives you to calculate the movements of the 27 subatomic particles you’ve discovered and how they interact with one another in the 2,038th dimension using a base 3.2407 quadrillion number system, you realize that the universe and its infinite copies and offshoots offer nothing more to you. Except, that is, for Johnny Test. Even for an individual with such altitudinous IQ such as myself, it’s difficult to understand every single subtle joke and reference. That’s not to say I don’t understand any of the plenitude of allusions, in fact, I am able to comprehend virtually every single one. For example, one minutia most of you would fail to notice is when Susan’s chin moves two extra pixels further than in any of the previous episodes when she talks during the seventeenth second of the fifth minute of season 3 episode 10. Hardly any of you would conceive of the fact that this is a reference to the exact number, down to 84 significant figures, of the percent change in total nitrogen in the Earth’s atmosphere due to the eructation of a small cynodont 257 million years ago. There are more examples I could give, such as the color of the walls of the sisters’ lab being a slightly different hue from the norm in season 4 episode 19 (a reference to the presence of approximately 2.9 millimoles of ammonium diuranate in the ink of a Chinese manuscript dated 1256 BCE), but that would detract from the intended purpose of this writing. Johnny Test is a work of art, a perfect concoction of knowledge from a multitude of academic fields that combine to make a program that is the only form of media I have ever encountered that has been even somewhat laborious for me to fathom, and I’m talking about someone who altered the biochemistry and chirality of their body in order to make it more efficient than the prodigality that is the human body. My temples ache with the pain of having to pump copious amounts of Testium (an element I discovered that takes the role of oxygen in my unique biochemistry, named after my favorite show of course) to my brain in order to comprehend what I have just watched. And to everybody who claims that the reason my temples are sore or why I have “delusions of grandeur” are due to my being “high” or whichever way you aim to construe my exegesis of an episode, you will hear vocalizations of a gelatological nature emanating from my larynx whilst Xyzyzyx the paisley pangolin (a treasured acquaintance of mine) and I reflect on your foolishness later that day. I await the furious fussilade of odious obluquies and belittling bombast in the comments below. “Too long; Did not read”: Did you really think I would include one of these silly little things at the bottom of my witty wordsmithery? It's not my fault if you can't handle my de trop of definitions or my lexical linguipotence! Get back up there and read it, even if you have to go through it with dictionary in hand.
submitted by Smileyface39 to copypasta [link] [comments]

Why Johnny Test is best thing ever created.

All over the internet, I notice you churlish cretins lauding the supposedly intellectual television program known as Rick and Morty to make yourselves appear more intelligent by extension, as you are ardent watchers of the aforementioned show. However, you piddling planarians only succeed in illustrating how vapid you really are, as Rick and Morty has the intellectual depth of a petri dish. Truly, the most noetic show is neither Rick and Morty, the Big Bang Theory, Jimmy Neutron, nor any other deluge of drivel you deludable dimwits bombard your brains with. Rather, it is Johnny Test, a pinnacle of animation, sound design, acting, and plot. Despite this, most of you sniveling sub-10000s (someone with an IQ under 10000: for the record, my IQ is several orders of magnitude higher than this; my reason for my usage of this term is simply because I am partial to the number 10000) will dismiss Johnny Test as another subpar piece of rubbish from Teletoon, but you all fail to realize how much genius goes into producing that show. I have watched Johnny Test since I was a juvenile, and already I bear an IQ so toweringly high no known test can measure it (that is to say, no known test for humans can measure it: when using the scale with which computer processing power is evaluated, I clock in at over 8.3 trecentillion yottaflops). I have memorized every facet of human knowledge and only used 32.8% of my potential intelligence (my remaining neurons I allocate towards personal use, research, and wealthy companies for use as server farms and bitcoin mines). Not only that, but I have transformed all of the atoms in my being into a quantum computer to serve as an extension to my enormous encephalon, which handles the menial tasks and other trivialities associated with existence (such as respiration, ingestion, digestion, socializing, et cetera). Capable of perorating proficiently in every method of communication in the world, I have developed my own language that employs a manifold of grammar rules, and I created it all while thrashing a coalition of humanity’s smartest supercomputers in a game of Tic-Tac-Toe (for those who say that Tic-Tac-Toe is “easy,” think about the all the times you’ve played Tic-Tac-Toe: a majority were ties, no? Think about that, and also about the fact that a single, solitary supercomputer, much less over a dozen, is smarter than millions of you combined). And no, you cannot see me type this language because it is purely telepathic. At this point, I can imagine several of you already typing frantically in a fervent effort to keep your egos afloat in the face of such psychological grandeur. That’s right, the collective intelligence of all of you, if we’re using luminosity as an analogy, is akin to a diminutive candle in comparison to the massive quasar that represents my mind. Confronted with this, most of you will attempt to deride me with paltry, nonsensical invective and vitriolic vituperations to protect what minuscule amount of self-esteem you possess. These predictions are not the result of mere intuition, of course. In actuality, I have run several simulations using my brain alone on the possible consequences of my publication of this digital manuscription. My reply to all of you digital detractors is that if you so desire to demonstrate that you are brainier than I, then arrange for an intellectual debate between you and me on a topic of your choosing, any time or place. My schedule is very pliable as I’ve already won over 4 dozen nobel prizes, so I’m perfectly willing to put a temporary halt to my research, if you could even call it that (I speculate without demur that none of your debate skills will be enough of a problem for me to the point where I will be forced to snap out out of my subconscious simulations to employ the use of those neurons). Besides, I don’t want to be a glory hog and leave none of the secrets of the universe left for unlocking. You know, let the dogs have their day and all of that. I already know that none of you simpletons with your senescent synapses will be able to match up to my vast vernacular and verbiage, my mental dexterity with declension, and my phrenic puissance with my phraseology and pronunciation. In a matter of seconds (or possibly longer, if I’ve overestimated your already positively benthic IQs when running my simulations), you’ll fly into cantankerous conniptions after my consummate trouncing and repudiation of every single one of the “facts” that you hold so dear as proof of your purported intellect. And in response to those who claim, overcome with envy and spite, that as intelligent as I am, I will never sleep with anyone: I don’t need to. I am quite capable of simulating, to the meagerest tactile sensation, every position in the Kama Sutra (as well as a few I myself have devised for maximum oxytocin and endorphin release) simultaneously in a few seconds, and the only reason it takes even that long is because I am prolonging the simulation in order to enjoy the experience: I could do it in hundredths of a millisecond if I so wish. However, for someone with such acute acumen as I, life is far too easy. When pure ennui drives you to calculate the movements of the 27 subatomic particles you’ve discovered and how they interact with one another in the 2,038th dimension using a base 3.2407 quadrillion number system, you realize that the universe and its infinite copies and offshoots offer nothing more to you. Except, that is, for Johnny Test. Even for an individual with such altitudinous IQ such as myself, it’s difficult to understand every single subtle joke and reference. That’s not to say I don’t understand any of the plenitude of allusions, in fact, I am able to comprehend virtually every single one. For example, one minutia most of you would fail to notice is when Susan’s chin moves two extra pixels further than in any of the previous episodes when she talks during the seventeenth second of the fifth minute of season 3 episode 10. Hardly any of you would conceive of the fact that this is a reference to the exact number, down to 84 significant figures, of the percent change in total nitrogen in the Earth’s atmosphere due to the eructation of a small cynodont 257 million years ago. There are more examples I could give, such as the color of the walls of the sisters’ lab being a slightly different hue from the norm in season 4 episode 19 (a reference to the presence of approximately 2.9 millimoles of ammonium diuranate in the ink of a Chinese manuscript dated 1256 BCE), but that would detract from the intended purpose of this writing. Johnny Test is a work of art, a perfect concoction of knowledge from a multitude of academic fields that combine to make a program that is the only form of media I have ever encountered that has been even somewhat laborious for me to fathom, and I’m talking about someone who altered the biochemistry and chirality of their body in order to make it more efficient than the prodigality that is the human body. My temples ache with the pain of having to pump copious amounts of Testium (an element I discovered that takes the role of oxygen in my unique biochemistry, named after my favorite show of course) to my brain in order to comprehend what I have just watched. And to everybody who claims that the reason my temples are sore or why I have “delusions of grandeur” are due to my being “high” or whichever way you aim to construe my exegesis of an episode, you will hear vocalizations of a gelatological nature emanating from my larynx whilst Xyzyzyx the paisley pangolin (a treasured acquaintance of mine) and I reflect on your foolishness later that day. I await the furious fussilade of odious obluquies and belittling bombast in the comments below. “Too long; Did not read”: Did you really think I would include one of these silly little things at the bottom of my witty wordsmithery? It's not my fault if you can't handle my de trop of definitions or my lexical linguipotence! Get back up there and read it, even if you have to go through it with dictionary in hand.
submitted by dafukyouwantmetodo to copypasta [link] [comments]

What is Blockchain Technology?

What is Blockchain Technology?
The original article appeared here: https://www.securities.io/what-is-blockchain-technology/
Its been almost ten years since Satoshi Nakamoto first introduced Blockchain technology to the world in his 2008 Bitcoin Whitepaper. Since that time, these revolutionary networks have gained popularity in both the corporate and governmental sectors. This growth is easily explained when you consider that blockchain technology provides the world with some unique advantages that were previously unimaginable. Consequently, today, you can find blockchain technology in nearly every sector of the global economy.

What is Blockchain Technology?

A blockchain is a network of computers that share a distributed ledger across all network participants (nodes). This strategy is far different than say, fiat currencies that originate from a centralized authority figure. Importantly, this ledger keeps an unbroken chain of transactions since the birth of the network. This “chain” of transactions grows larger as new “blocks” of transactions are approved and added to it.
Bitcoin Whitepaper
In order to approve new transactions, each node works together with others to validate new blocks. Additionally, the nodes also validate the current state of the entire blockchain. In order for a new block of transactions to be added to the blockchain, they must receive approval from 51% of the network’s nodes. Nodes are also referred to as miners. In this manner, blockchain networks are decentralized networks that provide unmatched security to the world of digital assets.

Security via Decentralization

Decentralization is an important aspect of blockchain technology because it makes these revolutionary ledgers immutable and unalterable. In fact, since there is no centralized attack vector, hacking a blockchain is nearly impossible. The larger the blockchain network, the more secure the data on it remains.
For example, let’s look at the world’s largest blockchain, Bitcoin. Currently, the Bitcoin blockchain has over 10,000 active nodes located across the globe. This distribution means that in order for an attacker to alter even just one tiny piece of information on the blockchain, they would need to successfully hack 5,000+ computers at once.
While this task may not be impossible for the quantum computers of the future, it’s so unprofitable that it makes no sense to even attempt such a monumental task. Additionally, on top of successfully hacking 5000+ computers at once, an attacker would also need a supercomputer to recalculate the new blockchain transactions in time to introduce them into the network. It would literally be more affordable to create a new cryptocurrency from scratch.

Consensus Mechanisms

One of the reasons why blockchain networks are so secure is the integration of consensus mechanisms. Consensus mechanisms are cryptographic protocols that leverage the participants of a blockchain network in securing its data. In the case of Bitcoin, the Proof-of-Work (PoW) consensus mechanism is used.

Proof-of-Work (PoW)

The Proof-of-Work consensus mechanism was revolutionary to the world of cryptography when it was first introduced years prior by Adam Back in his Hashcash whitepaper. In the concept, Back describes the integration of a mathematical equation to the network’s security protocols. In this way, every computer can show “proof” of their work securing the network.

Miner Rewards

It’s important to understand that nodes receive a reward for their mining efforts. These rewards adjust automatically depending on the network’s difficulty and value. In the case of Bitcoin, miners originally received 50 Bitcoin for their efforts. Today, this seems like fortune, but back in 2009, Bitcoin was only worth pennies. As the value of the token rises and the network goes, the mining rewards shrink. Today, Bitcoin miners receive 6.5 BTC if they add the next block to the chain.

SHA-256

Notably, every node validates and secures the blockchain, but only one gets to add the next block of transactions to the network. To determine who the next miner is that gets to add this block, every computer competes in a mathematical race to figure out the PoW equation. In the case of Bitcoin, the equation is known as SHA-256. Importantly, the first SHA algorithm dates back to Hashcash. This early version of the equation was known as SHA-1.
Notably, the SHA-256 equation is so difficult that it’s easier and more efficient for your computer to just make random guesses rather than attempting to figure out the equation directly. The answer to the equation must begin with a predetermined amount of 0s. In the Bitcoin blockchain, the equation’s answer must start with four zeros. However, if the network’s congestion rises, so does the difficulty of these equations. This difficulty adjusts by the addition of another zero at the beginning of the required SHA-256 answer.
Similarly to traditional commodities such as gold, there are costs that are associated with the creation and introduction of these digital assets into the market. These random guesses utilize intense computational power. This power equates to real-world costs such as electricity bills. Studies have shown that securing the Bitcoin network can use more electricity than required by entire countries. Luckily, over 80% of Bitcoin’s power consumption comes from renewable sources such as solar or hydroelectric. This cost of mining also adds measurable value to each Bitcoin.

Miners

As Bitcoin began to gain in profitability, its network’s computing power expanded significantly. In the beginning, nodes, also known as miners, could mine for Bitcoin using nothing more than your home PC. Eventually, miners realized that graphic cards were far better at the repetitive guessing required to figure out the SHA-256 algorithm. This led to a computational race in the market.

ASIC

Eventually, large blockchain firms such as Bitmain introduced Application Specific Integrated Circuit (ASIC) miners into the equation. These purpose-built miners were thousands of times more efficient at guessing the SHA-256 algorithm than the GPUs and CPUs before them. Consequently, their introduction created a scenario in which the average miner now needed to invest thousands in mining equipment to stay relevant.

Mining Pools

Luckily, some creative minds in the field began to think of ways to level the playing field out again. They developed “mining pools.” A mining pool is a network of miners that all share computational power for the common goal of mining blockchain transactions. Importantly, mining pool participants receive a percentage of the reward based on their contributions to the network’s overall hash (computational power).
Importantly, over the last three years, there has been a push to move away from power-hungry consensus mechanisms such as PoW. This desire to secure blockchains in a more efficient manner has led to the development of some truly unique consensus mechanisms in the sector.

Proof-of-Stake (PoS)

The Proof-of-Stake mechanism does away with the difficult mathematical algorithms and instead utilizes a more psychological approach to securing the network. In a PoS blockchain, users don’t need to compete mathematically to add the next block to the blockchain. Instead, PoS users “stake” their coins via network wallets to secure the network. The way staking works is simple.
Keeping a certain amount of coins in your wallet allows you to participate in transaction validations. The more coins you stake, the more likely the chances are you get to add the next block of transactions to the network. In most PoS systems, a miner from those with the most tokens staked at the time receives the chance to add the blocks.
The advantages of a PoS consensus mechanism are immediately evident. For one, you don’t need to pour tons of resources into your network to keep it safe. Additionally, since nodes are chosen based on their amount of staked coins, there is never a scenario in which a node gains anything from validating incorrect transactions. Basically, a hacker would have to fully invest in the cryptocurrency prior to attacking the network. In this way, PoS systems create a huge deterrent to attackers.

The Future of Blockchain Technology

Blockchain technology has come a long way from its early days as a means to secure cryptocurrency networks. Today, blockchain technology has numerous uses across every type of industry imaginable. Specifically, blockchain programs have impacted the logistical, financial, and data security sectors in a major way.

Blockchain Technology Logistics

Blockchain logistical systems are more efficient and cost-effective to operate than traditional paper-based models. In fact, the immutable and unalterable nature of blockchain tech makes it ideally suited to logistical tasks. Soon, you may be able to ascertain much more information regarding the creation and delivery of your products thanks to these new-age systems emerging.

Fundraising

Blockchain technology has also altered the way in which businesses raise funds. In a traditional corporate crowdfunding strategy such as an IPO, companies must balance between cost-effectiveness and participation. The inability to process smaller transactions meant that for the longest time, companies had to turn away potential investors. Nowadays, blockchain technology enables businesses to easily automate these procedures via smart contracts.

Smart Contracts

Smart Contracts feature preprogrammed protocols that execute when they receive a certain amount of cryptocurrency sent to their address. These contracts live on the blockchain and enable remarkable functionality. For example, in the case of fundraising, a smart contract can automate processes such as the approval of investors and the distribution of funds.

Blockchain Technology Today

You can expect to see further expansion of the blockchain sector in the coming months as more governments and institutions explore its benefits. For now, the blockchain revolution is well underway.
submitted by BlockDotCo to u/BlockDotCo [link] [comments]

Let's talk about IOTA (serious)

I will be honest with you. IOTA is the project I put all of my hopes in since mid 2017 and also the one I’m invested in the most. But I definitely lost a lot of faith in IOTA over the last years. My intention for this post is not to spread FUD. I’d really like to discuss some topics that seem very odd and I’d appreciate your input. If I got things wrong please feel free to correct me. I will try to add some sources but most of these things are well known within the community. If you need information more you can join the official discord and read back past announcements or use the search function to find certain discussions.
We all know that IOTA promised a lot over the past years but there are very few things that actually happened. A lot of things that made IOTA special and a lot of things that were promoted along the way simply will not happen or will be removed in the future. Many of these things have already or will impact the price. Here are my comments towards...

1. The coordinator just directs the flow of the tangle
I guess everyone knows by now. IOTA is centralized. Value transactions have been disabled for almost a month now. Nobody can move their funds because the coordinator is down. Next topic.

2. IOTA can scale
In the past, IOTA was always promoted as a cryptocurrency that could scale. One transaction has to confirm two others. Spam helps the network. Spam the network to help make it faster. The coordinator will be shut down as soon as the network reaches a certain number of transactions per second.
Today we know that all of this is not true. IOTA 1.0 (the current IOTA) cannot scale. Spamming only forces the nodes to make snapshots more often because they run out of space. Too much spam kills the network. IOTA 1.0 doesn’t work. We need a totally new approach. Even the “one transaction has to confirm two others” rule might not stay. [1]

3. JINN
In the past the Founders always said that IOTA was developed for JINN. A Trinary Processor developed by a company owned by Sergey Ivancheglo (CFB) and David Sonstebo. That’s why IOTA is Trinary. [2] Now after years of research and development we get huge news: JINN is dead. [3]
Also, CFB leaves IOTA and threatens to sue David Sonstebo. David and CFB engage in an open twitter and discord war. CFB wants to work on his own Trinary version of IOTA [4]

4. Trinary
IOTA will switch to Binary after wasting years with programming everything with Trinary hardware in mind. [5] [6]

5. The Trinary hash function Troika [7]
IOTA and CYBERCRYPT developed a new Trinary hash function for IOTA. With the switch to Binary this hash function is now useless and all the time and resources spent on it were wasted.

6. Signature Scheme
IOTA uses Winternitz One Time Signatures (WOTS) to make it quantum secure. This is the reason why it’s not safe to send from an address twice. Ok, just don’t reuse addresses, what’s the problem? The problem is that everything that is build for IOTA from wallets to exchange integrations is way more complicated to program and maintain than any other crypto. If I was an exchange I’d never ever list IOTA. Additionally, people that are only familiar with other cryptos might reuse an address and put their funds at risk. And this happens a lot. And for what? There are no quantum computers. Now after years it seems the IOTA Foundation finally realized that WOTS suck for adoption and want to add another signature scheme which allows address reuse and is not quantum secure. So much time wasted. [6]

7. Switch from a balance model to UTXO model [6] [7]
UTXO will be so much better and easier than our current model. Much innovation. But Bitcoin and other cryptos have been using the UTXO model from the beginning.

8. People leaving the IOTA Foundation
A lot of great people left the IOTA Foundation and for most we don’t know why. To my knowledge there is no public list of people who still work for the IF. Here are some people who left (most silently):
Samuel Reid, Rolf Werner, Ralf Rottmann, David Cohen, Jesse Babbra, Andreas Osowksi, John D. Licciardello, Gur Huberman, Alisa Maas, Janine Hartel, Lukas Tassanyi (MicroHash)
And these are just a few I found after a quick search in Discord.

9. Qubic (Q)
There was a huge hype around Q even before it was announced. There was a new website including a countdown. Until today we actually didn’t see anything significant related to Q except some posts by Eric Hop indicating that qubic is still very far away.

10. IOTA 2.0 (Coordicide)
The developers spent (wasted) years fixing IOTA 1.0 until they finally realized that it doesn’t work (it’s centralized and not scalable) although they told us it was simulated and well researched before. The IOTA Foundation repeatedly publicly attacked researchers who found flaws in the protocol.
IOTA 2.0 is basically a totally different protocol than the current one. The prototype is not finished yet. It’s not tested at all and it gets rid of most things that were used in the current version. How high is the chance that IOTA 2.0 will work? It seems like over the past years a lot of time was simply wasted on developing things that got tossed into the bin and now they are starting all over.

11. Partnerships and Adoption
If IOTA has one thing it’s partnerships. But after an announced partnership nothing ever really followed. So, is any company like Bosch, VW, Nokia, Audi, Vodafone or Jaguar actually still working on building something with IOTA or did they drop it?

12. Wallet hack
The recent wallet hack could have been avoided easily but the Moonpay integrating was rushed and nobody checked the code again.
An unknown amount of seeds has been stolen and the attacker will be able to transfer the funds of everyone who didn’t use the migration tool in time to exchanges and dump everything on March 10 along with anyone who wanted to sell within the last month.

All these points made me lose a lot of faith in my investment long term but especially short term. I talked to some friends and especially the ones following the project very closely share my doubts.
But my sample number is rather small so I‘d appreciate your input. Please feel free to comment on anything I wrote and feel free to disagree or correct me.
submitted by NotMyTime731 to IOTAmarkets [link] [comments]

30+ Reasons Why Cryptocurrencies Are Worthless

1)It is possible to change the code through a miner vote or a fork and change the total supply or anything. DASH did it : they reduced the total supply from 84M to 18.9M a few years ago. They could also increase it to 999 Trillions if they wanted to so that millions of DASH are mined every week.

2)You can also fork bitcoin anytime , start over from 0 and claim it's the real bitcoin. (BCH , BSV , BTG , LTC , BCD etc)

3)Why would you pay $10,000 for a digital collectible unit called BTC when you can use BCH or TRX or LTC .. you name it. They work just as fine and cost less. There is no rarity like in gold.

4)Think of any amount you hold in ethereum as a gift card to use smart contracts on the ETH blockchain. Ridiculous. You’d rather hold a wal mart gift card or even simply cash.

5)Private keys may be bruteforced as we speak. Quintillions entries a second. When they’ll have enough bitcoins under control , they could move them all at once instantly.(At least 45,000 ETH have been stolen this way for now through ethereum bandit)SHA 256 is too old , bitcoin is 10 years old , it is not secure enough , quantum computing could potentially break it.

6)And that’s if people don’t find a way to create an infinite amount of coins to sell on exchanges.. it happened with monero , stellar , bitcoin , zcash , zcoin , eos , etc..

proofs :

“Bitcoin , Coindesk : “The Latest Bitcoin Bug Was So Bad, Developers Kept Its Full Details a Secret”an attacker could have actually used it to create new Bitcoin — above the 21 million hard-cap of coin creation — thereby inflating the supply and devaluing current bitcoins.”

Stellar : “Stellar Inflation: Glitch Leads to 2.25 Billion Extra XLM Printed”

Monero : “A bug in the Monero (XMR) wallet software that could enable fake deposits to exchanges has been recently brought to public attention through a Medium post”

Zcoin : Forged coins were created, but not exceeding 1% of the circulating supply. We will release further details on exact numbers when Sigma is released.

EOS : “Hackers Forge Billion EOS Coins to Steal Real Crypto From DEX “

Zcash : “Zcash Team Reveals It Fixed a Catastrophic Coin Counterfeiting Bug” etc..

7)Segwit , and especially Lightning network is a very complex technology and it will inevitably have flaws , bugs , it will be exploited and people will lose money. That alone can cause bitcoin to drop very low levels.

8)Then miners may be losing millions so they will stop mining , blocks may be so slow , almost no transaction will come though , and bitcoin may not have enough time to reach the next difficulty adjustement. This is reffered to as a death spiral. Then every crypto even those with no mining involved may crash hard.

9)Many crypto wallets are unsafe and have already caused people to lose all their investment , including the infamous “parity wallet”.

10)It is NOT trustless. you have to trust the wallet you’re using is not just generating an address controlled by the developper , you have to trust the node the wallet connects to is an honest node , you have to trust a Rogue state or organization with enough computing power will not 51% attack the network. etc..

11)Bitcoin is NOT deflationary. Bitcoins are created every blocks (roughly every 10 minutes) and you wil be dead by the time we reach the 21 million current hard cap.

12)Bitcoin price may artificially be inflated by Tether.

13)It’s an energy waste , an environmental catastrophy.

14)The only usecases are money laundering , tax evasion , gambling , buying on the dark net , evading sanctions and speculation.

15)Governments will ban it if it gets too big , and they have a big incentive to do so , not only for the obscure usecases but also because it threatens the stability of sovereign currencies. Trump could kill bitcoin with one tweet , force fiat exchanges to cease activity.

16)Most cryptos are scams , the rest are just crazy speculative casino investments.

17)It is pyramidal : early adopters intend to profit massively while last comers get crushed. That's not how money works. The overwhelming majority of crypto holders are buying it because they think they will be able to sell it to a higher price later. Money is supposed to be rather stable. That's why the best cryptocurrencies are USDT USDC etc..

18)The very few stores accepting bitcoin always have the real price in the local currency , not in bitcoin. And prices like 0.00456329 BTC are ridiculous !

19)About famous brokers listing bitcoin : they have to meet the demand in order to make money , it doesn't mean they approve it , some even short it (see interactive broker's CEO opinion on bitcoin)

20)People say cash is backed by nothing and losing value slowly , and yes it is very flawed , but there is a whole nation behind it , it's accepted everywhere , you can buy more things with it.

21)Everybody in crypto thinks that there will be a new bullrun and that then , they will sell. But because everybody thinks it will happen , it might not happen. The truth is past performance doesn’t indicate future performance and it is absolutely not guaranteed that there will ever be another bullrun. The markets are unpredictable.

22)Also BTC went from about $0.003 to the price it is today , so don’t think it’s cheap now.

23)There is no recourse if you’re scammed/hacked/made a mistake in the address etc. No chargebacks. But it might be possible to do a rollback (blockchain reorganization) to reverse some transactions. BSV did it.

24)In case of a financial crisis , the speculative assets would crash the most and bitcoin is far from being a non speculative safe heaven ; and governments might ban it to prevent fiat inflation to worsen.

25) Having to write down the private key somewhere or memorize it is a security flaw ! It’s insane to think a system like this will gain mass adoption.

26) The argument saying governments can not ban it because it is decentralized (like they banned drugs) doesn’t work for cryptos. First , drugs are much harder to find and much more expensive and unsafe because of the ban , and people are willing to take the risk because they like it. But if crypto is banned , value will drop too much , and if you can’t sell it for fiat without risking jail , goodluck to find a buyer. Fiat exchanges could close. Banks could terminate every crypto related bank account. And maybe then the mining death spiral would happen and kill all cryptos.

27) Crypto doesn’t exist. It’s like buying air. It’s just virtual collectibles generated by a code. Faguzzi, fugazzi, it’s a whazzie, it’s a whoozie.. it’s a.. fairy dust. It doesn’t exist. It’s never landed. It’s no matter, it’s not on the elemental chart. It… it’s not fucking real!

28) Most brilliant guys have come out and said Bitcoin was a scam or worthless. Including Bill Gates , Warren Buffet , The Wolf Of Wall Street…

29) Inflation is necessary for POW , BTC code will have to be changed to bypass the 21M cap or mining will die ! If BTC code is not changed to allow for miners to be paid reasonably , they will cease mining when the bitcoin block reward gets too low.Even monero understood it ,the code will have to be changed to allow for an infinite bitcoin supply (devaluating all current bitcoins) or the hash will decrease and the security of bitcoin will decrease dramatically and be 51% attacked

30) Don’t mix up blockchain and cryptos. Even blockchain is overrated. But when you hear this or that company is going blockchain , it doesn’t mean they support cryptocurrencies.

31) Craig Wright had a bitcoin mining company with Dave Kleinman (he died) and on january 1 2020 he claims he will be able to access the 1.1M BTC/BCH/BTG from the mining trust. He may or may not dump them on the market , he also said BTC had a fatal flaw and that by 2019 there will be no more BTC.

32) Hacks in cryptos are very common and usually massive. Billions of dollars in crypto have been stolen in the last 6 years. In may 2019 Binance was hacked and lost 7,000 BTC (and it’s far from being the biggest crypto hack).

33) Bitcoin was first. It's an ancient technology. Newer blockchains have privacy, smart contracts, distributed apps and more.Bitcoin is our future? Was the Model T the future of the automobile? (John Mc Afee)

34) IOTA investiguating stolen funds on mainnet. IOTA shuts down the whole network to deal with trinity wallet attack.


While the native language of the writter is not english , I think you get the point and it doesn't make it any less relevant.
submitted by OverTheRedHills to u/OverTheRedHills [link] [comments]

30+ Reasons Why Cryptocurrencies Are Worthless

1)It is possible to change the code through a miner vote or a fork and change the total supply or anything. DASH did it : they reduced the total supply from 84M to 18.9M a few years ago. They could also increase it to 999 Trillions if they wanted to so that millions of DASH are mined every week.

2)You can also fork bitcoin anytime , start over from 0 and claim it's the real bitcoin. (BCH , BSV , BTG , LTC , BCD etc)

3)Why would you pay $10,000 for a digital collectible unit called BTC when you can use BCH or TRX or LTC .. you name it. They work just as fine and cost less. There is no rarity like in gold.

4)Think of any amount you hold in ethereum as a gift card to use smart contracts on the ETH blockchain. Ridiculous. You’d rather hold a wal mart gift card or even simply cash.

5)Private keys may be bruteforced as we speak. Quintillions entries a second. When they’ll have enough bitcoins under control , they could move them all at once instantly.(At least 45,000 ETH have been stolen this way for now through ethereum bandit)SHA 256 is too old , bitcoin is 10 years old , it is not secure enough , quantum computing could potentially break it.

6)And that’s if people don’t find a way to create an infinite amount of coins to sell on exchanges.. it happened with monero , stellar , bitcoin , zcash , zcoin , eos , etc..

proofs :

“Bitcoin , Coindesk : “The Latest Bitcoin Bug Was So Bad, Developers Kept Its Full Details a Secret”an attacker could have actually used it to create new Bitcoin — above the 21 million hard-cap of coin creation — thereby inflating the supply and devaluing current bitcoins.”

Stellar : “Stellar Inflation: Glitch Leads to 2.25 Billion Extra XLM Printed”

Monero : “A bug in the Monero (XMR) wallet software that could enable fake deposits to exchanges has been recently brought to public attention through a Medium post”

Zcoin : Forged coins were created, but not exceeding 1% of the circulating supply. We will release further details on exact numbers when Sigma is released.

EOS : “Hackers Forge Billion EOS Coins to Steal Real Crypto From DEX “

Zcash : “Zcash Team Reveals It Fixed a Catastrophic Coin Counterfeiting Bug” etc..

7)Segwit , and especially Lightning network is a very complex technology and it will inevitably have flaws , bugs , it will be exploited and people will lose money. That alone can cause bitcoin to drop very low levels.

8)Then miners may be losing millions so they will stop mining , blocks may be so slow , almost no transaction will come though , and bitcoin may not have enough time to reach the next difficulty adjustement. This is reffered to as a death spiral. Then every crypto even those with no mining involved may crash hard.

9)Many crypto wallets are unsafe and have already caused people to lose all their investment , including the infamous “parity wallet”.

10)It is NOT trustless. you have to trust the wallet you’re using is not just generating an address controlled by the developper , you have to trust the node the wallet connects to is an honest node , you have to trust a Rogue state or organization with enough computing power will not 51% attack the network. etc..

11)Bitcoin is NOT deflationary. Bitcoins are created every blocks (roughly every 10 minutes) and you wil be dead by the time we reach the 21 million current hard cap.

12)Bitcoin price may artificially be inflated by Tether.

13)It’s an energy waste , an environmental catastrophy.

14)The only usecases are money laundering , tax evasion , gambling , buying on the dark net , evading sanctions and speculation.

15)Governments will ban it if it gets too big , and they have a big incentive to do so , not only for the obscure usecases but also because it threatens the stability of sovereign currencies. Trump could kill bitcoin with one tweet , force fiat exchanges to cease activity.

16)Most cryptos are scams , the rest are just crazy speculative casino investments.

17)It is pyramidal : early adopters intend to profit massively while last comers get crushed. That's not how money works. The overwhelming majority of crypto holders are buying it because they think they will be able to sell it to a higher price later. Money is supposed to be rather stable.

18)The very few stores accepting bitcoin always have the real price in the local currency , not in bitcoin. And prices like 0.00456329 BTC are ridiculous !

19)About famous brokers listing bitcoin : they have to meet the demand in order to make money , it doesn't mean they approve it , some even short it (see interactive broker's CEO opinion on bitcoin)

20)People say cash is backed by nothing and losing value slowly , and yes it is very flawed , but there is a whole nation behind it , it's accepted everywhere , you can buy more things with it.

21)Everybody in crypto thinks that there will be a new bullrun and that then , they will sell. But because everybody thinks it will happen , it might not happen. The truth is past performance doesn’t indicate future performance and it is absolutely not guaranteed that there will ever be another bullrun. The markets are unpredictable.

22)Also BTC went from about $0.003 to the price it is today , so don’t think it’s cheap now.

23)There is no recourse if you’re scammed/hacked/made a mistake in the address etc. No chargebacks. But it might be possible to do a rollback (blockchain reorganization) to reverse some transactions. BSV did it.

24)In case of a financial crisis , the speculative assets would crash the most and bitcoin is far from being a non speculative safe heaven ; and governments might ban it to prevent fiat inflation to worsen.

25) Having to write down the private key somewhere or memorize it is a security flaw ! It’s insane to think a system like this will gain mass adoption.

26) The argument saying governments can not ban it because it is decentralized (like they banned drugs) doesn’t work for cryptos. First , drugs are much harder to find and much more expensive and unsafe because of the ban , and people are willing to take the risk because they like it. But if crypto is banned , value will drop too much , and if you can’t sell it for fiat without risking jail , goodluck to find a buyer. Fiat exchanges could close. Banks could terminate every crypto related bank account. And maybe then the mining death spiral would happen and kill all cryptos.

27) Crypto doesn’t exist. It’s like buying air. It’s just virtual collectibles generated by a code. Faguzzi, fugazzi, it’s a whazzie, it’s a whoozie.. it’s a.. fairy dust. It doesn’t exist. It’s never landed. It’s no matter, it’s not on the elemental chart. It… it’s not fucking real!

28) Most brilliant guys have come out and said Bitcoin was a scam or worthless. Including Bill Gates , Warren Buffet , The Wolf Of Wall Street…

29) Inflation is necessary for POW , BTC code will have to be changed to bypass the 21M cap or mining will die ! If BTC code is not changed to allow for miners to be paid reasonably , they will cease mining when the bitcoin block reward gets too low.Even monero understood it ,the code will have to be changed to allow for an infinite bitcoin supply (devaluating all current bitcoins) or the hash will decrease and the security of bitcoin will decrease dramatically and be 51% attacked

30) Don’t mix up blockchain and cryptos. Even blockchain is overrated. But when you hear this or that company is going blockchain , it doesn’t mean they support cryptocurrencies.

31) Craig Wright had a bitcoin mining company with Dave Kleinman (he died) and on january 1 2020 he claims he will be able to access the 1.1M BTC/BCH/BTG from the mining trust. He may or may not dump them on the market , he also said BTC had a fatal flaw and that by 2019 there will be no more BTC.

32) Hacks in cryptos are very common and usually massive. Billions of dollars in crypto have been stolen in the last 6 years. In may 2019 Binance was hacked and lost 7,000 BTC (and it’s far from being the biggest crypto hack).

33) Bitcoin was first. It's an ancient technology. Newer blockchains have privacy, smart contracts, distributed apps and more.Bitcoin is our future? Was the Model T the future of the automobile? (John Mc Afee)

34) IOTA investiguating stolen funds on mainnet. IOTA shuts down the whole network to deal with trinity wallet attack.


While the native language of the writter is not english , I think you get the point and it doesn't make it any less relevant.
submitted by OverTheRedHills to u/OverTheRedHills [link] [comments]

Some very important points that most people do not understand about Bitcoin

Point 1)
Most people do not understand that you can't send money over internet, but only information. Bitcoin is the first digital settlement layer.
When I send a picture to someone on Facebook messenger, I don't actually send a picture. I send information about the pictures structure, and the picture gets restructured on the client side (the cellphone) of the user I send it to. Copy of the information is being sent, not the picture itself. So you can't send money over internet, it is not possible, only information.
If I have a bank account at some bank, and I send $50 dollars to another person in the same bank by using the banks website, then a transaction happens between two people within the same infrastructure, which is the banks back-end system and database. So the banks system just subtracts $50 dollars from one person and adds $50 dollars to another person. But no money has moved, only information has been edited. But if I send money to someone that uses another Bank, then this bank has its own infrastructure which is independent of the first. So Bank1 tells Bank2 that they have a user that wants to send money to a user of the other bank. So Bank1 subtracts $50 from User1, and Bank2 adds $50 to User2, but now Bank1 owes Bank2 $50, why? Because you can't send money over internet. So they have to settle the difference between them with some kind of a settlement system, (cash, gold or a third party like a central bank). This difference can be the result of many transactions between many users and can be millions of dollars of worth, the settlement can be done periodically for example every 6 months.
With Bitcoin, because of how the system works, it is almost as if you can send value over internet for the first time, even though you don't really send value, you still send information, but since the infrastructure is global, it is like the first example, it is as if the world has (one large bank infrastructure), that is fully automated and which no one controls.
This alone makes Bitcoin extremely valuable, because it is a trust less digital settlement layer which is extremely secure and not dependent on one particular nation or organisation.
Point 2)
There can never be more than 21 million Bitcoin. This is very hard for people to grasp. Because what do you mean there can never be more than 21 million bitcoin? It sounds like a game, such a scam... People do not understand that Bitcoin is not normal software. In normal software the developers can change the code as they want and publish the code when they want. They do not understand that Bitcoin is a software that is not like a normal software. You can't actually change the number even if the number is programmed in. Which of-course most people will deny, because it makes no sense for most people. They do not understand that even though it is theoretically possible to change it, it is practically almost impossible. It is theoretically possible for me to convince half of Sweden to burn half of their money, but practically impossible. Just because something is theoretically possible, doesn't mean that it will happen within a time frame, or even in your lifetime. In order for the 21 million supply to change, most people in the Bitcoin community needs to agree on it, which is practically impossible. Miners have to change to the new protocol and so on. Not going to happen.
When gold treasures were lost in the past, someone else could find them. Gold practically never completely disappears, it is a chemical element. With Bitcoin, once it is lost it is practically lost forever (put aside quantum computing for now and other theoretical unforeseeable events). 21 million is only the upper theoretical limit. Bitcoin will be more and more scarce as time goes by. Gold is not like this. Gold has an inflation rate of 1,5% every year. The reason it is constant is because even if the stock gets bigger, the flow into the stock also gets bigger because of better mining capabilities, so you can look at it as constant inflation of 1.5% every year. With Bitcoin, not only do the stock to flow ratio go up every halvening, and the flow into bitcoin not only decreases with time, but almost goes into negative because of lost coins every year. This is completely insane and people do not understand this. If you combine this almost deflationary nature of Bitcoin with extreme bullish market sentiment then you will realize that no one knows what is going to happen in the future because wrapping your head around all this and to come to a conclusion about the Bitcoin price will make you sound absolutely delusional to most people.
Point 3)
People think that $100,000 bitcoin is wishful thinking and that there is not enough money in the world for Bitcoin to be worth millions of dollars. Which I can assure you is false. Bitcoin can even be worth $50 million dollars per coin, which would make 2 satoshi 1 dollar. Even if one Bitcoin transaction would cost 10 000 Satoshi. You might say, that's not possible, whats the point if one transaction is so expensive. Again, you don't need to actually do a transfer of money, as in the first example of point 1, virtual transactions on bank level can happen, or on Coinbase. You can send 100 satoshi to someone and pay 1 satoshi in fee "on the bank level", not on chain, banks or exchanges then will settle the difference as they want. At least with Bitcoin you have the option to be you own bank, even if that will cost you more, you still have the option. This is already happening in front of your eyes. Banks like Dutch ING, Deutsche bank, are already working on custody services for cryptocurrencies. And even exchanges want to operate as banks and exchanges like Coinbase are working to get license for this. This is already happening and it is the correct move forwards, a mix between the legacy banking system and cryptocurrencies. You can already spend your Bitcoin with Coinbase Visa Card or similar services. Most people are too lazy and stupid to operate like us with their own wallets, it is a fact well known.
In terms of the price, money inflow is not the same as market cap. Take for instance the following simple scenario. I own 100% of the shares of my own company and I decide to sell 10% of the company for 1 million USD, which will value my whole company at 10 million USD, so 1 million flow into my company leads to 10x market cap of 10 million USD. For Bitcoin to have 21 trillion market cap, Bitcoin does not need 21 trillion of money inflow. Bitcoin price is dependent on market sentiment, if the market sentiment is such that very few people want to sell their coins because the price keeps going up then you might have 100x market cap of the money inflow. So 1 billion USD in money inflow translates to 100 billion USD in market cap. The multiplier can be 10x, 2x or 50x, all depends on market sentiment and time period. So an inflow of 10 trillion USD in 10 years might lead to 100 trillion USD market cap of BTC and 5 million USD per Bitcoin.
Bitcoin value have no roof, the price might actually just keep going up and up and up and up and up. We have never had something that is absolutely scarce, and global, and seen as an alternative form of money, when the rest of the world keeps bubbling up. There is no limit on the BTC price because the whole world works with a bubbly system, and the way Bitcoin is price discovered, is a guaranteed insane BTC price in the future. Even $100 million USD per Bitcoin in 50 years before I am dead is possible.
Point 4)
Fiat does not need to die, and Bitcoin does not need to take over in order for Bitcoin to have "ridiculous price". No financial crisis is needed. Actually what you want is things to just continue as they have done in the last 10 years. No too extreme events. Just "small events" here and there. You can't change human nature, it is inevitable. Bitcoin is so ingrained into our world that there is no way back. There will be people with whole Bitcoin, and people without. Just like people with gold and stock investments and real estate, and people without those things. No insane events, this is all normal.
Point 5)
Bitcoin has won as the financial cryptocurrency. No flippening will happen. The only flippening will be with gold and fiat currencies. If I wanted to, I could have developed a system like PayPal in 1 month time, and it would be able to do 5000 transactions per second because I would use MySQL and SSD, but no one would use my service because they would not trust me because they have no idea who I am and what my service is, and there is no one to send money too, so the network is not there. Bitcoin has won because security and network effect is way more important than transactions per second. Transactions per second will be dealt with on bank level, exchange level, or layer 2 solutions. This is already clear to me. Bitcoin has won.
Point 6)
In order to understand Bitcoin and what will happen in the future, you have to be able to see things that are not in front of you. You can't compare Bitcoin to Tulip mania, or even Gold. Because something like Bitcoin has never existed before and you have to think about it's properties and try to understand it with human nature and with how the world works and how everything keeps increasing, and Bitcoin is the thing that does not increase in supply. You will eventually accept the unnatural thought of Bitcoin never stopping going up in value, which is something that is hard to come to terms with, because it feels unnatural, "and it could not possibly be so".
Point 7)
The Gini coefficient of Bitcoin is not a big deal. I used to think that it was unfair that some people had 1,000 BTC, 10,000 BTC, or even 50,000 BTC. And I was afraid that they might dump their coins into the market and crash it. I have now realised that these people are smart people and they think like me, and they won't just dump their whole BTC holding on the market as that might be a very bad move for them. It is like when a majority holder of a company, like Jeff Bezos and Amazon, understands that he can't sell all of his shares in one go as that would effect Amazon stock value too much and would not be smart. It is best to sell when the price goes up, but then when they sell the BTC will just be eaten up by other people, and they will be at a loss in the longer term. And the other thing is that perhaps there is no other smart place to put that fiat money, Bitcoin might just be the best place to keep those amounts of money. Someone with a very large holding has two options. He can either sell his BTC, in which case the price would go down but the Bitcoin would be spread out between potentially thousands of new users, or he might decide to never sell. If he decides to never sell, it is as if those Bitcoins are lost forever and that is good for the Bitcoin price and Bitcoin in general. If he decides to sell then Bitcoin will be divided more equally among many users which is also a good thing for Bitcoin because that increases the network effect, and after he sells he no longer has the power to drive the price down, but now he sits on a very large fiat holding, he might even buy back at a higher price and drive the price higher. I know that if I had 10,000 BTC, I would sell 1,000 BTC and buy a house and a car and whatever I wanted, and sell another 1,000 BTC to diversify into some other assets. And keep 8,000 BTC because I don't know of anywhere else to put that kind of money into good work. I believe in Bitcoin so as an investor it makes sense to keep it here. I probably would never sell because I would never need anything else after the initial 1,000 BTC sell.
Bitcoin is like a black hole that sucks in the Earths monetary resources over time. Most people that bought really early and were smart enough to hold all the way to these prices will only sell what they need to sell and keep the rest in BTC. Some of them might want to speculate and try to time the ATH, only to buy back in with most of the fiat they sold. Which means that even if money goes out of the market, it only goes out of the market temporarily, only to get back in at hopefully lower prices. And so the market grows, and grows and grows over time.
Point 8)
Bitcoin has intrinsic value. When people like Peter Schiff say that gold has intrinsic value because gold can be used in electronics and aviation and therefore gold has value but Bitcoin has no value because it has no intrinsic value, you have to take a pause and do some critical thinking. Can you imagine 16th century pirates looking to find a gold treasure worth an insane amount because they knew gold had value because of electronics and aviation? This is clearly absurd. Gold has been used as money for thousands of years and electronics and aviation was not even a thing 150 years ago. Gold has value because it is globally scarce. Bitcoin is absolutely verifiable scarce. Bitcoin has intrinsic value because of it's monetary policy and because you can carry millions of dollars of value by remembering only 24 words in your head, and carry that value wherever you want and no one can stop you, that is intrinsic value.
People had a hard time understanding that a website like Facebook could be worth billions of dollars, because it was not physical, it was "just a website". Even a website like Google search is not physical and still it has immense value. It is valuable information and it provides a good service, and that has value, it does not have to be physical and tangible.
submitted by 21btc to Bitcoin [link] [comments]

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submitted by jaylenholt to ebookleaksdownload [link] [comments]

Summary of Tau Chain Monthly Update and QandA - April 2020

https://www.youtube.com/watch?v=92aG_W2AVU8New people join the team: Karim, Professor Carmi, Mo'az as well as Kilian, who joined last month
Karim as Software Director, experience in software starts up having founded and sold two companies. Has both technical and entrepreneurial background.
Professor Carmi - background in quantum mechanics, writing the whitepaper. Understands and agrees with Ohad's design of Tau from a technical perspective (3 laws of laws etc.)
Mo'az - Artistic design and rebranding of idni, Tau and Agoras Live (logos, website etc.) Impressive initial designs showcased.
Kilian - Community Manager. Slide presentation of community survey results. We need to attract new users by providing simpler explanations. Others areas to improve include marketing, exchange listings, business and university partnerships, translations etc. Focusing on ideas that will drive community growth (contests, bounties, etc.)
Very open to feedback, ideas and contributions.
Tomas - finished work related to memory mapping of BDD vector (unsure, low audio). Now working on memory mapping for Windows and creating an executable. Began work on documenting parts of TML.
Andre - working on initial steps of implementing knowledge market and Agoras Live (video calls). Demonstration of initial layout of how people can be paid in AGRS for creating videos or providing live video feedback. Many features including creating a wallet automatically at account creation etc.
Juan - splitting efforts between TMl and Agoras. Work continues on compound terms and arithmetics. Dragan also continues work on dynamic bdds. Working on payment infrastructure on the Agoras side.
Fola - working on new logos, hires, websites. Still looking at exchanges.
Ohad - In reply to prof Carmi points out the 3 laws of laws are axiomizations of the language to describe Tau itself as well as the internet of languages. Continue work on supporting systems of equations.
QandA
Q: If Bitcoin was hosted on Tau, how would they determine the BTC blocksize? Would it still result in forks?
Ohad: Forks are a consequence when we reach a point where disagreements cannot be resolved. Discussions are the best way to resolve disagreements.
Q: How will 'questions' be priced in the market? A type of auction or are there non monetary rewards or all left to the asker?
Fola and Ohad: All left to the asker. Can be barter or traded with other knowledge.
Q: What type of device would you need to run Tau? Can I use Raspberry Pi?
Ohad: Designs will allow Tau to be run on many popular devices. More platform specific areas will be separated.
Q: When can you offer a usable product?
Ohad: Roadmap will be updated to reflect Agoras being worked in parallel with Tau, with certain features to come out before Tau is ready, eg. AgorasLive
Q: Can we get on more reliable exchange? Is the project still active?
Fola: Yes, 12 active team members. Whitebit was added recently. After getting lukewarm reception from the community, we decided against listing on HitBTC. Focus will be on product development for now.
Q: Are there limitation to code synthesis?
Ohad: Yes, all logical systems have limitations. Most questions in the universe are too difficult to be practically solvable. But most problems in practice are likely solvable. Most importantly, we as humans don't have any more advantage over what's mathematically possible. The computer will have limitations, but it will certainly do better than us.
submitted by miao-tau to tauchain [link] [comments]

Listen here, simpletons.

Is this good?
All over the internet, I notice you churlish cretins lauding the supposedly intellectual television program known as Rick and Morty to make yourselves appear more intelligent by extension, as you are ardent watchers of the aforementioned show. However, you piddling planarians only succeed in illustrating how vapid you really are, as Rick and Morty has the intellectual depth of a petri dish. Truly, the most noetic show is neither Rick and Morty, the Big Bang Theory, Jimmy Neutron, nor any other deluge of drivel you deludable dimwits bombard your brains with. Rather, it is Johnny Test, a pinnacle of animation, sound design, acting, and plot. Despite this, most of you sniveling sub-10000s (someone with an IQ under 10000: for the record, my IQ is several orders of magnitude higher than this; my reason for my usage of this term is simply because I am partial to the number 10000) will dismiss Johnny Test as another subpar piece of rubbish from Teletoon, but you all fail to realize how much genius goes into producing that show. I have watched Johnny Test since I was a juvenile, and already I bear an IQ so toweringly high no known test can measure it (that is to say, no known test for humans can measure it: when using the scale with which computer processing power is evaluated, I clock in at over 8.3 trecentillion yottaflops). I have memorized every facet of human knowledge and only used 32.8% of my potential intelligence (my remaining neurons I allocate towards personal use, research, and wealthy companies for use as server farms and bitcoin mines). Not only that, but I have transformed all of the atoms in my being into a quantum computer to serve as an extension to my enormous encephalon, which handles the menial tasks and other trivialities associated with existence (such as respiration, ingestion, digestion, socializing, et cetera). Capable of perorating proficiently in every method of communication in the world, I have developed my own language that employs a manifold of grammar rules, and I created it all while thrashing a coalition of humanity’s smartest supercomputers in a game of Tic-Tac-Toe (for those who say that Tic-Tac-Toe is “easy,” think about the all the times you’ve played Tic-Tac-Toe: a majority were ties, no? Think about that, and also about the fact that a single, solitary supercomputer, much less over a dozen, is smarter than millions of you combined). And no, you cannot see me type this language because it is purely telepathic. At this point, I can imagine several of you already typing frantically in a fervent effort to keep your egos afloat in the face of such psychological grandeur. That’s right, the collective intelligence of all of you, if we’re using luminosity as an analogy, is akin to a diminutive candle in comparison to the massive quasar that represents my mind. Confronted with this, most of you will attempt to deride me with paltry, nonsensical invective and vitriolic vituperations to protect what minuscule amount of self-esteem you possess. These predictions are not the result of mere intuition, of course. In actuality, I have run several simulations using my brain alone on the possible consequences of my publication of this digital manuscription. My reply to all of you digital detractors is that if you so desire to demonstrate that you are brainier than I, then arrange for an intellectual debate between you and me on a topic of your choosing, any time or place. My schedule is very pliable as I’ve already won over 4 dozen nobel prizes, so I’m perfectly willing to put a temporary halt to my research, if you could even call it that (I speculate without demur that none of your debate skills will be enough of a problem for me to the point where I will be forced to snap out out of my subconscious simulations to employ the use of those neurons). Besides, I don’t want to be a glory hog and leave none of the secrets of the universe left for unlocking. You know, let the dogs have their day and all of that. I already know that none of you simpletons with your senescent synapses will be able to match up to my vast vernacular and verbiage, my mental dexterity with declension, and my phrenic puissance with my phraseology and pronunciation. In a matter of seconds (or possibly longer, if I’ve overestimated your already positively benthic IQs when running my simulations), you’ll fly into cantankerous conniptions after my consummate trouncing and repudiation of every single one of the “facts” that you hold so dear as proof of your purported intellect. And in response to those who claim, overcome with envy and spite, that as intelligent as I am, I will never sleep with anyone: I don’t need to. I am quite capable of simulating, to the meagerest tactile sensation, every position in the Kama Sutra (as well as a few I myself have devised for maximum oxytocin and endorphin release) simultaneously in a few seconds, and the only reason it takes even that long is because I am prolonging the simulation in order to enjoy the experience: I could do it in hundredths of a millisecond if I so wish. However, for someone with such acute acumen as I, life is far too easy. When pure ennui drives you to calculate the movements of the 27 subatomic particles you’ve discovered and how they interact with one another in the 2,038th dimension using a base 3.2407 quadrillion number system, you realize that the universe and its infinite copies and offshoots offer nothing more to you. Except, that is, for Johnny Test. Even for an individual with such altitudinous IQ such as myself, it’s difficult to understand every single subtle joke and reference. That’s not to say I don’t understand any of the plenitude of allusions, in fact, I am able to comprehend virtually every single one. For example, one minutia most of you would fail to notice is when Susan’s chin moves two extra pixels further than in any of the previous episodes when she talks during the seventeenth second of the fifth minute of season 3 episode 10. Hardly any of you would conceive of the fact that this is a reference to the exact number, down to 84 significant figures, of the percent change in total nitrogen in the Earth’s atmosphere due to the eructation of a small cynodont 257 million years ago. There are more examples I could give, such as the color of the walls of the sisters’ lab being a slightly different hue from the norm in season 4 episode 19 (a reference to the presence of approximately 2.9 millimoles of ammonium diuranate in the ink of a Chinese manuscript dated 1256 BCE), but that would detract from the intended purpose of this writing. Johnny Test is a work of art, a perfect concoction of knowledge from a multitude of academic fields that combine to make a program that is the only form of media I have ever encountered that has been even somewhat laborious for me to fathom, and I’m talking about someone who altered the biochemistry and chirality of their body in order to make it more efficient than the prodigality that is the human body. My temples ache with the pain of having to pump copious amounts of Testium (an element I discovered that takes the role of oxygen in my unique biochemistry, named after my favorite show of course) to my brain in order to comprehend what I have just watched. And to everybody who claims that the reason my temples are sore or why I have “delusions of grandeur” are due to my being “high” or whichever way you aim to construe my exegesis of an episode, you will hear vocalizations of a gelatological nature emanating from my larynx whilst Xyzyzyx the paisley pangolin (a treasured acquaintance of mine) and I reflect on your foolishness later that day. I await the furious fussilade of odious obluquies and belittling bombast in the comments below. “Too long; Did not read”: Did you really think I would include one of these silly little things at the bottom of my witty wordsmithery? It's not my fault if you can't handle my de trop of definitions or my lexical linguipotence! Get back up there and read it, even if you have to go through it with dictionary in hand.
submitted by Smileyface39 to Mortytown [link] [comments]

05-24 00:54 - 'Topic: [Quantum computing] Reason: [SHA-256 encryption breaking]' (self.Bitcoin) by /u/Xyopsi removed from /r/Bitcoin within 42-52min

'''
After the years of successful advancements of quantum computing, I have been worrying about Bitcoin and it's future. I've done research about quantum computing and it's capabilities and it's not looking too good for our beloved cryptocurrency because it might have a security flaw. With quantum computing the SHA-256 (that secures Bitcoin) algorithm can be broken later in the future with the advancements with quantum computing. I'm not saying it's going to happen tomorrow but there is a chance that cryptography protocols are going to have to change to ensure the integrity of bitcoin and it's future. This is hypothetical though, not to fear monger or troll but this needs to be a discussion on which people can share opinions about this topic and come up solutions to prevent keys to be solved by in which the government or tech companies like Google, Amazon, etc can crack. I feel that this is important to discuss about and I care about the future of bitcoin and other cryptocurrencies and it's contributers and holders.
Sources used: [link]1
[link]2
[link]3
[link]4
[link]5
Edit: Thanks u/jenny82ishere for fact checking me. The SHA-256 algorithm is not encryption.
'''
Topic: [Quantum computing] Reason: [SHA-256 encryption breaking]
Go1dfish undelete link
unreddit undelete link
Author: Xyopsi
1: b*oc**hainhub.net/bl**/*lo*/cryptogra*hy-**ockc**in-b*tc**n/ 2: www.sci***edai*y.com/news/*a**er*energy/qu*ntum_co****i*g/ 3: www.*oogle.**m/a*p/s/ww*.science*ews.org/ar**cl*/n**-***nt****om*u*ers-can-*pe*ate**ig**r-temperatures/amp 4: en.m.wik*ped**.or*/wiki/**A-* 5: en.bitco*n**t*wi*i/Wall*t_en*ryp*io*
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

Two BIG questions regarding future of Bitcoin (and another extra one about physical wallets)

Hi everyone and thanks for this so useful subreddit. I've been reading a lot and watching videos to learn about Bitcoin, but I have two big questions regarding the future of this system.
1: The around 2.000 transactions per block, and the 1 block per minute, could be a limiting factor in the future for the Bitcoin to become a useful money in our daily economics? I see it as a limit for Bticoin to grow. 200 transactions per minute is a VERY low rate. Am I wrong with this? How could this be solved or improved?
2: What about security? Bitcoin works as a STRONG promise for its unbreakable future. I want to earn my money and deposit it as BTC, as it will always be there, incorruptible. But, what if quantum computing in the future makes the BTC encryption breakable? Are we sure it wont happen? What about this?
And as a corollary, here's my third question regarding security also: what do you think is the strongest way to have a personal wallet? Many people talk about physical wallets like the Ledger nano and so on, but the question is: what if the companies behind those hw wallets disappear? In order to read those wallets, we need their companies' system or website so we can operate with our wallets, don't we?
Thanks in advance for everyone. Bests, Alberto
submitted by deanmoriar to BitcoinBeginners [link] [comments]

What is the next "big thing"?

Decades ago it was the dot-com bubble, then bitcoin, and now the "tech bubble". What is the next biggest thing and how do we profit by investing in it's prominent companies? Is it quantum computers? Artificial meat? Genomic editing?
submitted by gruph to investing [link] [comments]

Bitcoin value drops below $8,500

submitted by temporarycreature to news [link] [comments]

I (23M) have conflicts with my brother (32M) regarding IT and computer science stuff. He keeps rambling about random stuff which he knows I know nothing about and sometimes blatanlty lies

Maybe especially people in IT could help me out here.
I, 23M, am about to graduate from uni in computer science. Ever since I went to uni, my brother, 32M, who works in IT as devops, keeps acting weird.

So at this point I think it's helpful to roughly describe what his job is and what I do.
Firstly, I'm not specialized in anything, I'm applying for enterprise software engineering jobs after turning in my thesis, that's the only thing I'm interested in and actually know something about.
My brother works in Devops as a server administrator. Important background here is that he did not go to uni but did an apprenticeship. We are interested in different things; I really don't care about server administrative stuff.

However, here is the problem:
Sometimes he texts me about random stuff with domain specific lingo I do not understand. And I'm pretty sure he knows that I do not understand. I told him a couple of times.
Often I find out that he is just blatantly lying or sensationalizing what he does by just googling. He keeps rambling about random buzzwords and keeps telling me to learn whatever he currently does so I keep up otherwise I will fall behind in IT, as he would say. He keeps thinking that there is only this one field in IT; that is his field. He does not understand that I do completely different things.


For example today he messaged me about "their project". He kept linking random networking graphs and whatever which have no meaning, linked me a github project and told me that they're going to be rich with this. It's an open source project and it's not even written by them...? It's about metal as a service (maas). He keeps telling how innovative it is and everyone in IT just wants it. Which just a lie. Then he keeps going on about quantum computers and how the government (Germany) asked them if they "can also do quantum computers". He goes on and tells me to learn quantum programming. It's very obvious that he does not understand quantum computers, but keeps pressuring me into random shit.
By the way, quantum computers aren't like normal computers; most things wouldn't really be possible to run on them. He tried convincing me that they would host quantum computers as servers, which doesn't make any sense.

Often he texts me "get rich quick" schemes, like bitcoin. That's one of his obsessions. Everything new he discovers "is the future". One time, vaping was the future, but he quit that as well.

Another time he message me screenshots of his current work where there was "code" on the screen. He tried to convince me that he does some programming. Except the thing on the screen wasn't a programming language. It's very obvious that he can't program, which is okay I think since his job doesn't really demand that.

More background about our family: My father was an alcoholic and he got the worst out of it; he was abused the most. We told him multiple times to look for a therapist but he refuses since "he already knows what they do so it doesn't work". Another thing is that my entire family bullied me for going to a "higher tier school": in Germany, after elementary school you can go to 3 different kinds of schools, depending on your grades. I went to the highest tier and went to uni afterwards as the only one in my family. Everytime I fucked something up as a kid (11 years), like used the dishwasher wrong, they went "I thought you're supposed to be smart, you're going to X school". I feel like this is still going on. He keeps "racing" with me and trying to convince me that he knows everything about "IT" and that I'm just a school boi who has never experienced "the real world", the classics, you know it.
He also tends to get super emotional and violent at the smallest conflicts.
So I don't know what to do. If I call him out, he'll get angry. If I ignore it, that's shitty as well. I don't want to ignore my brother obviously.
What I tried so far is asking him questions about the things he rambles about and pointing out very obvious lies, like "and how do you do that?".


This is a vague transcript of his recent messages, almost word for word his messages:
-
- we built this
- we are open source!
-
- the government works with us
- and SAP
- cloud platform
- innovative and shit
- everyone wants it
- ram, hard drive, 3 nodes with firewall, big storage and cpu
- bare metal, we'll make millions from this


This is all him without me sending any message. Afterwards he kept naming random technologies that have nothing to do with all of this which I am supposed to learn.

I asked him what this project is good for, since he was only naming buzzwords until now, and he went on:

- gaia-x project by the EU
- because they don't trust VMs anymore since spectre and meltdown
- + the power that bare metal brings
- you can involve bigger machines with more performance
- not only that
- gpus fpus and and and
- quantum computers
- the government asked if we could also do quantum computers

I kept asking what the deal was with quantum computers. Why would they ask a random small company, he answered:

- arms race
- if you miss it, you'll lose
- it's reality, boy
- mega complicated
- they don't know anything
- very political
- cold war and all
- they don't trust trump and the banks


This sounds insane. I don't know how to defuse these ramblings or send him to help. He won't go to a therapist
submitted by GosuPleb to relationship_advice [link] [comments]

Quantum computing hacking blockchain  bitcoin quantum computing  quantum computing explained hindi NEW BITCOIN QUANTUM MODEL PREDICTS $2,000 IN 2021!?? Bitcoin Price Falls on Panic over Quantum Computers, Bakkt Failure, & Miner Exodus Ep. 104 - The Future of Bitcoin with Anthony Pompliano and Mattimore Cronin Can quantum computers crack bitcoin?

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Quantum computing hacking blockchain bitcoin quantum computing quantum computing explained hindi

Is quantum computing a threat to bitcoin? We head to IBM Think 2019 to discuss whether quantum computers pose a threat to cryptocurrencies and blockchain cryptography. The answer was a resounding ... Why Did Bitcoin Drop $1700? Price Drop Speculation, Fed Pump, Bakkt Launch & BTC Whales - Duration: 46:58. The Modern Investor 32,072 views Subscribe for daily crypto videos : https://goo.gl/zm1G9x Bitcoin will be the new store of value and crypto will be the new technology evolution and I want to be a part of that trough this channel. Quantum computers can break the SHA 256 encryption that blockchain follow and easily steal the info, private keys along with one bitcoin can be spent twice. Thus basically your bitcoin can be hacked. New quantum model for btc predicts bullrun in 2022 and 2,000 bottom in 2021. Countries china japan cbdc. Retail bitcoin investors getting shaken out bitcoin shakeout..

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