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Sharering (SHR) I believe this one is going to surprise so many. Already generating revenue and doing buybacks every week. Already over 10 000 registered users. Mainnet + app + masternodes and staking before EOY.

I got this stuff from Steve Aitchison, he wrote this review and posted it on Uptrennd. Figured I should put it on here as well since I truly believe this is an incredible moonshot. I'm personally holding SHR myself and am very convinced it will do extremely well.
Give a read through it and you will immediatly see why. Enjoy guys.
Introduction
Imagine for a second the following scenario. You are a 2 car family. One car is used every day going back and forth to work, for shopping, all the little jaunts you and your husband like to go on. Your grown children are at university and come home for the weekends so the other car sits in the driveway all week and doesn’t get used during the week. What a waste of a perfectly good car. You think to yourself we could put that car to good use and actually help to pay for university fees, by renting it out during the week. However, then you think “well it’s only a little Ford Fiesta who’s going to want to rent that.” Well, it turns out a lot of people want to rent it and for a good price: £34 ($40) per day, a possible $800 per month.
Peer to peer car sharing has grown massively over the last few years and people are making serious money by letting our vehicles on a daily basis, emulating the Airbnb model. In fact companies like Turo, Getaround and Drivy, which has just been acquired by Getaround for $300 Million, are bringing in serious investors like Toyota, Softbank Vision Fund, Menlo Ventures, and IAC to the tune of over $800 Million.
A key difference between rental companies and peer to peer is that they have vastly improved technology with app interfaces that make locating assets and resources, reserving and using them, and making payment convenient and seamless. This, combined with location-specific analytics, allows by-the-minute access to assets and resources (e.g. cars or bicycles) and enables customers to pick up and drop these assets where and when convenient.
Car sharing is just one example of an industry that is being disrupted. We have seen, experienced and read about the amazing growth of Airbnb which is now estimated to be valued at $38 Billion. Airbnb has been so successful that companies like booking.com are trying to get in on the act by adopting a similar model when it comes to booking accommodation.
There is also the phenomenal rise of bicycle rentals which we see in cities all over the world, not quite the same as peer to peer sharing, but it’s another rental model that is ripe for being disrupted by the new sharing model.
With this business model in mind what other areas could it be used in:
Transport: Used for the rental of cars, trucks, scooters, trailers, and even heavy vehicles. Delivery Drivers: Facilitate booking and payment for delivery drivers. Agriculture: Garden sharing, seed swap, bee-hive relocation, etc. Finance: Peer to peer lending Food bank, social dining Travel Tours, shared tour groups Real Estate Airbnb, co-housing, co-living, Couchsurfing, shared office space, house swapping. Time: Labour, co-working, freelancing Assets Book swapping, clothes swapping, fractional ownership, freecycling, toy libraries. Transportation Car sharing, ride-sharing, car-pooling, bicycle sharing, delivery company, couriers And so much more!
This newly emerging, but highly fragmented sharing industry, is currently worth over $100 billion. It is predicted to grow to at least $335 billion by 2025.
As you can see from a few examples above the sharing economy has a lot of room to grow but what it doesn’t have, yet, is a company who can facilitate ALL of the above use cases in one place.
That is until now!
ShareRing is disrupting the disruptors by bringing everything together in one place and making it easy for you and me to share anything and everything and making it as easy as opening an app on your phone.
Business Case
The sharing market has exploded over the last several years. This is due, in part, to the digital age we live in, as we now have over 2.82 Billion people with smart phones around the world. It also due to how easy the business model of sharing lends itself to the digital world, and how with the simple installation of an app we can access a plethora of markets to rent almost anything from.
Due to this rise of digital platforms and the proliferation of smartphones, revenues coming from sharing economy platforms are only expected to increase. It is estimated to grow to a $335 billion industry in 2025, compared to its $14 billion value in 2014. (PwC UK).
The beauty of the sharing economy is that it is a win/win/win situation for the person who wants to rent something for a few days or weeks, the person who is renting out, and the company who facilitates the ease of the transactions between the renter and the person renting out. Typically the renter will save a lot of money whilst renting out someone else’s apartment, car, bicycle, clothes, dog sitting services etc and they can almost be assured of quality due to the social side of the business model with reviews from real people. The person who is renting out can make additional income and will want good reviews and therefore keep the standard of service higher. The company that is facilitating all of this can make a lot of money on transaction fees, as well as from advertising, and partnership deals, and obviously have an exit strategy for possible buyouts.
When it comes to looking at the business model, ShareRing fits in to the Commission Based Platform as described in Ritter and Schanz study where they looked at the core difference in difference business models of the sharing economy: Singular Transaction Models, Subscription-Based Models, Commission-Based Platforms and Unlimited Platforms.)
Commission Based Platforms are dominated by (at least) triadic relationships amongst providers, intermediaries and consumers with a utility-bound revenue stream. These business models enable their customers to switch between provider and consumer roles by creating and delivering the value proposition. Only a few employees work for the intermediary and the value creation and delivery is externalized. From a consumer perspective, consumers are empowered to collaborate with each other and to design the collaboration terms by negotiating the terms and conditions of the content, creation, distribution and consumption of the value proposition. Depending on the orientation of the value proposition, consumers purchase commodities (Tauschticket, ebay), access commodities in a defined timespan (booking.com, Airbnb) or buy services (uber, turo) from occasional and professional providers found via an intermediary. The intermediary mainly focuses on nurturing a community feeling and reducing exchange insecurity by incorporating rating systems, micro-assurances and standardizations of payment and delivery into the platform. The platform mainly takes commissions for successful matching and executing trade. (Journal of Cleaner Production Volume 213, 10 March 2019, Pages 320-331)
The USP of the ShareRing Business Model
The USP that ShareRing has is that it brings all of the different forms of sharing together in one app through partnerships and onboarding of users.
No other company, to date, is bringing everything together in such a way. However there are other factors that make ShareRing unique, which we will look at.
Token Economics
SHR is a utility token and will be used to pay for transactions on the network, such as 'new booking', 'add asset', etc. SHR is used by providers to pay for their access to the ShareLedger blockchain, including the addition of assets, renting out of assets, adding attributes, adding smart contracts, and other features.
SharePay (SHRP) is used by customers to pay for the rental of assets.
Masternodes will also be a main feature of the SHR token. When a transaction fee is incurred, it will be distributed in a way that allows for masternode holders who provide a service to the platform to receive a reward from each transaction. Transaction fees are charged to sharing providers in SHR. The distribution of transaction fees will be as follows: 50% - will be distributed amongst the active masternode holders who host an active node on the blockchain at that point in time (these holders provide a service to the platform). The distribution will be based on a calculation of the Total Amount Staked and the total continuous uptime of the node. 50% - will be provided to ShareRing Ltd (view ShareRing owned masternodes) for various purposes that contribute to working capital and platform growth.
Leased Proof of Stake Consensus
ShareRing have chosen the Leased Proof-of-Stake protocol as the consensus algorithm for ShareLedger. This choice is based on the practicality and security benefits evident in the Waves platform. It is also much more cost effective than Proof-of-Work (POW), and will not suffer from the current issues Bitcoin and other POW cryptocurrencies are facing such as scalability and electricity consumption.
As explained above master nodes will be a main feature but there is the other feature of lightweight nodes. A user with a lightweight node will be able to stake their tokens to a full node of their choosing and participate in reaching consensus. They will also be free to cancel their leasing at any time as there are no contracts or freezing periods. The more tokens that have been staked in a full node, the higher the probability the node will have in producing the next block. Since the reward is given based on the total number of tokens staked in the full node, there will always be a trade-off between the size of the full node and the percentage of the reward. As an average user of the platform, you will not need to have technical knowledge on how to set up a node nor will you have to download the entire blockchain in order to stake your tokens. Only a user who sets up a full node will be required to do this, making it simpler than ever for users to earn a reward for supporting the platform.
The return expected for staking is expected to be around 6 - 8% although this has yet to be confirmed.
Buybacks
ShareRing are currently implementing a series of buybacks which started in the beginning of November:
The buyback operation is done at a random time during the week.
If there is enough liquidity, SHR tokens will be bought through a single market order at the time of buyback. In case there is not enough liquidity, a limit buy order at last sell order price will be placed on the market, and will remain open until it gets filled.
The buyback program was implemented to test the API purchase process for when live transactions occur on ShareLedger
The Buyback Program is expected to:
  1. Reduce the supply of ShareTokens available in both public and private markets
  2. Bring New capital and fund inflows into the Shareledger
  3. Substantially magnify value creation for the ShareToken holders
The Token Flow
ShareRing will bring in hundreds of merchants to list their rental products, either exclusively or as part of an aggregator system e.g. When you look at the likes of trivago.com they will list the best hotel prices from multiple merchants who are listed on their website. Essentially ShareRing will become part of the aggregator ecosystem and be listed on sites like trivago.com as well as have exclusive agreements with merchants who are listed directly on their app.
ShareRing’s USP is that they have everything on one place as well as their OneID module with means buyers can get a hotel, rent a car, rent their ski equipment, book events all through the one app and using the OneID.
With that in mind they are going to attract a lot of merchants.
This is where it gets exciting so pay attention to this part.
When a merchant is part of the ShareRing ecosystem and a buyer rents something from that merchant ShareRing will take a small % commission from that transaction. So say someone books a hotel for $100 for the night, ShareRing might take $0.50 as a commission. What ShareRing will then do is go to one of the exchanges that ShareRing (SHR) is listed on and buy SHR tokens directly using an API system using USDT.
Now, the actual commission has not been disclosed yet however if we assume even a 0.25% commission that means for every $100 Million worth of bookings made through the app will net ShareRing $250,000 which means buy backs of $250,000 for the SHR token, which increases the liquidity of SHR on the exchanges.
If you think $100 Million of bookings is a lot, booking.com customers book around 1.5 Million rooms per day, if we estimate an average of $50 per room that is $75 million of bookings PER DAY or $2 Billion worth of bookings per month.
This revenue coupled with revenue from OneID and eVOA makes ShareRing profitable almost from day one of the app going live.
OneID And eVOA
Another exciting development from the ShareRing team is the collaboration between ShareRings Self Sovereign Identity protocol and third party providers to bring OneID and eVOA which will utilise OneID
With the huge rise in E-commerce and with over 2.82 billion people who now own a smartphone we are entrusting our personal information to more and more centralised entities. These entities are frequently hacked and our information is leaked to outside parties.
ShareRing aims to tackle this with their service OneID module.
ShareRing’s OneID solution protects users' data by handling Know Your Customer (KYC) information through third parties and ShareRing’s Self Sovereign Identity Protocol. ShareRing does not hold any identifying information anywhere on its servers. It provides the ultimate security for the renter and also the provider, as the Protocol encrypts and stores your data in a secure manner within your device. Essentially, this means that it is near impossible for a hack or data leak to happen, simply because there is no centralized server of data for hackers to exploit.
The OneID module is very easy to use. The end-user needs to complete their ID submission only once, with the entire submission process requiring less than two minutes to complete. Once this step has been completed, the customers KYC is destroyed by the 3rd party document verification system and the OneID module allows merchants to verify a customer’s identity via a hashed verification packet, stored on the users device and ShareLedger. This removes the need for merchants to store or see personal information; safeguarding both merchants and users from fraud.
To create your ShareRing OneID, simply:
  1. Take a picture of your government ID document
  2. Take a selfie
  3. Confirm and submit your details
This is something I am really excited about for ShareRing and they already have made partnerships for other companies to use this feature which is another income stream for ShareRing.
eVOA
E-Visa On Arrival allows applicants to apply online and receive a travel authorisation before departure – this eVOA can be shown at dedicated Thailand immigration counters on arrival at major Thailand airports, allowing travellers to pass through in minutes.
OneID system is scheduled to become the lynchpin technology in Thailand’s electronic Visa On Arrival (eVOA) system; one of only two companies to partner with Thai authorities to provide this service. The new Visa system eliminates much of the hassle involved in entering the country:
This is a strong validation of the OneID system - immigration controls are some of the most scrutinized processes in any branch of government, and if the OneID solution can operate to their standards then it is truly business-ready. As explained by our COO, Rohan Le Page:
“We are providing our OneID product for Thailand e-VOA (Visa On Arrival) that allows 5 Million travellers from 20 countries including China and India to complete the visa process on their mobile through our app. This provides a streamlined immigration process that negates the need for an expensive and time-consuming process when you get off the plane. Additionally, fraud is mitigated with several extra layers of security in the back end including our blockchain (ShareLedger) consensus model that makes all data immutable and all but impossible to hack.”
Profit Margins on OneID
So how does ShareRing make money from OneID and eVOA?
With each application for an eVOA using the OneID module ShareRing will make an undisclosed commission. The e-VOA is available to citizens of 21 different countries and is intended for those who will be holidaying in Thailand and not working in the country.
This means that each eVOA will last for a period of around 15 days which effectively means that ShareRing will get commission multiple times from each person travelling to one of the 21 countries listed below:
Andorra, Bhutan, Bulgaria, China, Ethiopia, Fiji, India, Kazakhstan, Latvia, Lithuania, Maldives, Malta, Mauritius, Papua New Guinea, Republic of Cyprus Romania, San Marino, Saudi Arabia, Taiwan, Ukraine, Uzbekistan
The profits on this alone, according to projections, are worth millions of dollars per year to ShareRing, with a healthy growth of about 35% in raw profit over the next 5 years, ultimately netting the company about $1.5 million profit per quarter.
The ShareLedger Blockchain Platform
ShareRing will utilize the registered intellectual property from the existing KeazACCESS framework (KEAZ: A car sharing company founded by Tim Bos) as well as improving it the blockchain experience in their team.
It will consist of fo the primary elements:
SharePay (SHRP) – SharePay is the base currency that will allow users of the ShareRing platform to pay for the use of third party assets. ShareToken (SHR)
ShareToken (SHR) is the digital utility token that drives sharing transactions to be written to the ShareRing ledger that is managed by the ShareRing platform.
Account – This will be a standard account, which such an account being represented by a 24-byte address. The account will contain 4 general fields:
SHRP – SharePay token balance
SHR – ShareToken balance
ASSETS – linked/owned by the account (see below for definition of an Asset) ATTRIBUTES – Any additional attributes that are associated with this account. These attributes may be updated or added by Sharing Economy providers that utilise the ledger such as ID checks by rental companies. These attributes may be ‘global’ (i.e. used by any sharing providers) or ‘local’ (i.e. used by a specific sharing provider).
Assets – An asset represents a tangible real-world or digital asset that is being shared, such as a car, a house, industrial machinery, an e-book, and so on.
Smart Contracts – Similar to a number of other blockchain platforms, such as Ethereum and NEO, the ShareLedger blockchain will feature highly customisable smart contracts. These Smart Contracts will allow for decentralised autonomous applications that can be attached to an asset and/or account. Every smart contract will be Turing complete, meaning it will have the ability to implement sophisticated logic to manage the sharing of the assets. The smart contracts will be tested and reviewed by ShareRing in a sandbox as well as audited by reputable third-party code auditors prior to implementation.
Proof of Stake Consensus
ShareRing have chosen the Leased Proof-of-Stake protocol as the consensus algorithm for ShareLedger. This choice is based on the practicality and security benefits evident in the Waves platform. It is also much more cost effective than Proof-of-Work (POW), and will not suffer from the current issues Bitcoin and other POW cryptocurrencies are facing such as scalability and electricity consumption.
The ShareRing App
At the heart of the ShareRing project lies the ShareRing app:
A universal ‘ShareRing’ app is being developed that will allow anyone to easily see and use any sharing services around them. Each partner will have the option of developing a ‘mini’ app within the ShareRing app that will have functionalities specific to that partner. The app will use geolocation-based services to display the ShareRing services that are nearby
Social Media Presence
Coming from a social media background I feel this is an extremely important area to look into, especially in the crypto world.
ShareRing has done an okay job in growing their social media presence however I feel it could be much better. Here is a look at some of the key stats for their online social media presence:
Youtube: 191 Subscribers Instagram: 238 Followers Linkedin: 376 Followers Telegram: 6,525 members (very active) Twitter: 2,216 Followers (Fairly regular updates) Facebook: 1,965 Followers
Whilst social media may not be a priority just now I feel there has to be a big presence with image-based platforms and video-based platforms. Youtube and Instagram should be made a priority here as it spans all generations:
Other News on ShareRing
There is a lot of stuff going on at the moment with ShareRing which is what makes it an exciting prospect. Rather than give information on each of them here are some highlights provided by the ShareRing team.:
- ShareRing's revolutionary ID management based module OneID.
- Worlds first Blockchain based eVOA in place with major Thai company targeting 5 to 10 million travellers from 20 countries.
- 2.6 million International Hotels/ Accommodation coming on to the Platform. Lots more to come!
- Partnership with HomeAway
- 200,000 Activites, Tours and Events added to the ShareRing App
- Multi Global Car Sharing Partnerships
- 1 Partner Directly Integrating SHR's OneID consisting of 1.2 million Vehicles across 150 Countries
- Luxury Car Brand Sharing Platform purely based on SHR
- SHR payment system SHRP available in 10% Taxi Terminals in Australia
- SHRP available in 10,000 EFTPOS Terminals Australia wide
- White Labelling Services incorporating ShareRings revolutionary OneID
- 20 Significant Unannounced Partnerships, more to come!
- Major Partners include -
- BYD (Largest Electric Car Maker in the World)
- DJI (Largest Drone Maker in the World)
- Keaz (300 locations around the world)
- Yogoo EV Car Sharing
- MOBI Alliance Member
Overview of Positives and Negatives
Negatives
Social Media and marketing possibly needs to be ramped up in order to bring more awareness to the project.
The roadmap and white paper has not been updated recently for 2019/2020 but this I believe is coming soon.
Positives
With a low market cap project like ShareRing the risk to reward ratio is very good for retail and institutional investors.
Technical analysis of current prices, currently at 31 Satoshi, is also very good with resistance levels at 50, 77 and 114 Satoshi which would be nearing its all time high.
Referral program will increase the numbers of users that are currently using the site.
If ShareRing can capture even a small % of the overall sharing market then success looks assured.
There are 20 new announcements coming up and with Tim Bos looking for more partnerships it seems likely that ShareRing will break ATH prices soon.
Great long term hold, in my opinion.
Realistic Expectations of ROI
Short term (4 weeks - 12 weeks)
Short term looks great for ShareRing both from a TA point of view and a fundamental point of view.
With lots of news still to come out about ShareRing there is not going to be a shortage of fundamentals to drive the price up. From a TA point of view the next line of resistance stands at around the 50 Satoshi level which would complete a massive cup and handle formation from August 24th of this year. After that we are looking at resistances of 77 and 114 to reach near the all time highs which i expect ShareRing to reach going into 2020.
Long term (6 Months - 2 Years)
If ShareRing can onboard users and keep on making partnerships at the same rate there will be no stopping it. It’s all about onboarding the users and utilising the most powerful marketing tool ever - word of mouth!
When a great app is realised with great and useful functionality then it tends to go viral and I am hoping this happens for ShareRing.
With a market cap at the moment of just under $6 Million then I don’t think it’s crazy to talk about 1000% increases in the next 2 years and I really believe that is being extremely conservative, given where we think crypto is heading as a whole.
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Crypto and the Latency Arms Race: Crypto Exchanges and the HFT Crowd

Crypto and the Latency Arms Race: Crypto Exchanges and the HFT Crowd


News by Coindesk: Max Boonen
Carrying on from an earlier post about the evolution of high frequency trading (HFT), how it can harm markets and how crypto exchanges are responding, here we focus on the potential longer-term impact on the crypto ecosystem.
First, though, we need to focus on the state of HFT in a broader context.

Conventional markets are adopting anti-latency arbitrage mechanisms

In conventional markets, latency arbitrage has increased toxicity on lit venues and pushed trading volumes over-the-counter or into dark pools. In Europe, dark liquidity has increased in spite of efforts by regulators to clamp down on it. In some markets, regulation has actually contributed to this. Per the SEC:
“Using the Nasdaq market as a proxy, [Regulation] NMS did not seem to succeed in its mission to increase the display of limit orders in the marketplace. We have seen an increase in dark liquidity, smaller trade sizes, similar trading volumes, and a larger number of “small” venues.”
Why is non-lit execution remaining or becoming more successful in spite of its lower transparency? In its 2014 paper, BlackRock came out in favour of dark pools in the context of best execution requirements. It also lamented message congestion and cautioned against increasing tick sizes, features that advantage latency arbitrageurs. (This echoes the comment to CoinDesk of David Weisberger, CEO of Coinroutes, who explained that the tick sizes typical of the crypto market are small and therefore do not put slower traders at much of a disadvantage.)
Major venues now recognize that the speed race threatens their business model in some markets, as it pushes those “slow” market makers with risk-absorbing capacity to provide liquidity to the likes of BlackRock off-exchange. Eurex has responded by implementing anti-latency arbitrage (ALA) mechanisms in options:
“Right now, a lot of liquidity providers need to invest more into technology in order to protect themselves against other, very fast liquidity providers, than they can invest in their pricing for the end client. The end result of this is a certain imbalance, where we have a few very sophisticated liquidity providers that are very active in the order book and then a lot of liquidity providers that have the ability to provide prices to end clients, but are tending to do so more away from the order book”, commented Jonas Ullmann, Eurex’s head of market functionality. Such views are increasingly supported by academic research.
XTX identifies two categories of ALA mechanisms: policy-based and technology-based. Policy-based ALA refers to a venue simply deciding that latency arbitrageurs are not allowed to trade on it. Alternative venues to exchanges (going under various acronyms such as ECN, ATS or MTF) can allow traders to either take or make, but not engage in both activities. Others can purposefully select — and advertise — their mix of market participants, or allow users to trade in separate “rooms” where undesired firms are excluded. The rise of “alternative microstructures” is mostly evidenced in crypto by the surge in electronic OTC trading, where traders can receive better prices than on exchange.
Technology-based ALA encompasses delays, random or deterministic, added to an exchange’s matching engine to reduce the viability of latency arbitrage strategies. The classic example is a speed bump where new orders are delayed by a few milliseconds, but the cancellation of existing orders is not. This lets market makers place fresh quotes at the new prevailing market price without being run over by latency arbitrageurs.
As a practical example, the London Metal Exchange recently announced an eight-millisecond speed bump on some contracts that are prime candidates for latency arbitrageurs due to their similarity to products trading on the much bigger CME in Chicago.
Why 8 milliseconds? First, microwave transmission between Chicago and the US East Coast is 3 milliseconds faster than fibre optic lines. From there, the $250,000 a month Hibernia Express transatlantic cable helps you get to London another 4 milliseconds faster than cheaper alternatives. Add a millisecond for internal latencies such as not using FPGAs and 8 milliseconds is the difference for a liquidity provider between investing tens of millions in speed technology or being priced out of the market by latency arbitrage.
With this in mind, let’s consider what the future holds for crypto.

Crypto exchanges must not forget their retail roots

We learn from conventional markets that liquidity benefits from a diverse base of market makers with risk-absorption capacity.
Some have claimed that the spread compression witnessed in the bitcoin market since 2017 is due to electronification. Instead, I posit that it is greater risk-absorbing capacity and capital allocation that has improved the liquidity of the bitcoin market, not an increase in speed, as in fact being a fast exchange with colocation such as Gemini has not supported higher volumes. Old-timers will remember Coinsetter, a company that, per the Bitcoin Wiki , “was created in 2012, and operates a bitcoin exchange and ECN. Coinsetter’s CSX trading technology enables millisecond trade execution times and offers one of the fastest API data streams in the industry.” The Wiki page should use the past tense as Coinsetter failed to gain traction, was acquired in 2016 and subsequently closed.
Exchanges that invest in scalability and user experience will thrive (BitMEX comes to mind). Crypto exchanges that favour the fastest traders (by reducing jitter, etc.) will find that winner-takes-all latency strategies do not improve liquidity. Furthermore, they risk antagonising the majority of their users, who are naturally suspicious of platforms that sell preferential treatment.
It is baffling that the head of Russia for Huobi vaunted to CoinDesk that: “The option [of co-location] allows [selected clients] to make trades 70 to 100 times faster than other users”. The article notes that Huobi doesn’t charge — but of course, not everyone can sign up.
Contrast this with one of the most successful exchanges today: Binance. It actively discourages some HFT strategies by tracking metrics such as order-to-trade ratios and temporarily blocking users that breach certain limits. Market experts know that Binance remains extremely relevant to price discovery, irrespective of its focus on a less professional user base.
Other exchanges, take heed.
Coinbase closed its entire Chicago office where 30 engineers had worked on a faster matching engine, an exercise that is rumoured to have cost $50mm. After much internal debate, I bet that the company finally realised that it wouldn’t recoup its investment and that its value derived from having onboarded 20 million users, not from upgrading systems that are already fast and reliable by the standards of crypto.
It is also unsurprising that Kraken’s Steve Hunt, a veteran of low-latency torchbearer Jump Trading, commented to CoinDesk that: “We want all customers regardless of size or scale to have equal access to our marketplace”. Experience speaks.
In a recent article on CoinDesk , Matt Trudeau of ErisX points to the lower reliability of cloud-based services compared to dedicated, co-located and cross-connected gateways. That much is true. Web-based technology puts the emphasis on serving the greatest number of users concurrently, not on serving a subset of users deterministically and at the lowest latency possible. That is the point. Crypto might be the only asset class that is accessible directly to end users with a low number of intermediaries, precisely because of the crypto ethos and how the industry evolved. It is cheaper to buy $500 of bitcoin than it is to buy $500 of Microsoft shares.
Trudeau further remarks that official, paid-for co-location is better than what he pejoratively calls “unsanctioned colocation,” the fact that crypto traders can place their servers in the same cloud providers as the exchanges. The fairness argument is dubious: anyone with $50 can set up an Amazon AWS account and run next to the major crypto exchanges, whereas cheap co-location starts at $1,000 a month in the real world. No wonder “speed technology revenues” are estimated at $1 billion for the major U.S. equity exchanges.
For a crypto exchange, to reside in a financial, non-cloud data centre with state-of-the-art network latencies might ironically impair the likelihood of success. The risk is that such an exchange becomes dominated on the taker side by the handful of players that already own or pay for the fastest communication routes between major financial data centres such as Equinix and the CME in Chicago, where bitcoin futures are traded. This might reduce liquidity on the exchange because a significant proportion of the crypto market’s risk-absorption capacity is coming from crypto-centric funds that do not have the scale to operate low-latency strategies, but might make up the bulk of the liquidity on, say, Binance. Such mom-and-pop liquidity providers might therefore shun an exchange that caters to larger players as a priority.

Exchanges risk losing market share to OTC liquidity providers

While voice trading in crypto has run its course, a major contribution to the market’s increase in liquidity circa 2017–2018 was the risk appetite of the original OTC voice desks such as Cumberland Mining and Circle.
Automation really shines in bringing together risk-absorbing capacity tailored to each client (which is impossible on anonymous exchanges) with seamless electronic execution. In contrast, latency-sensitive venues can see liquidity evaporate in periods of stress, as happened to a well-known and otherwise successful exchange on 26 June which saw its bitcoin order book become $1,000 wide for an extended period of time as liquidity providers turned their systems off. The problem is compounded by the general unavailability of credit on cash exchanges, an issue that the OTC market’s settlement model avoids.
As the crypto market matures, the business model of today’s major cash exchanges will come under pressure. In the past decade, the FX market has shown that retail traders benefit from better liquidity when they trade through different channels than institutional speculators. Systematic internalizers demonstrate the same in equities. This fact of life will apply to crypto. Exchanges have to pick a side: either cater to retail (or retail-driven intermediaries) or court HFTs.
Now that an aggregator like Tagomi runs transaction cost analysis for their clients, it will become plainly obvious to investors with medium-term and long-term horizons (i.e. anyone not looking at the next 2 seconds) that their price impact on exchange is worse than against electronic OTC liquidity providers.
Today, exchange fee structures are awkward because they must charge small users a lot to make up for crypto’s exceptionally high compliance and onboarding costs. Onboarding a single, small value user simply does not make sense unless fees are quite elevated. Exchanges end up over-charging large volume traders such as B2C2’s clients, another incentive to switch to OTC execution.
In the alternative, what if crypto exchanges focus on HFT traders? In my opinion, the CME is a much better venue for institutional takers as fees are much lower and conventional trading firms will already be connected to it. My hypothesis is that most exchanges will not be able to compete with the CME for fast traders (after all, the CBOE itself gave up), and must cater to their retail user base instead.
In a future post, we will explore other microstructures beyond all-to-all exchanges and bilateral OTC trading.
Fiber threads image via Shutterstock
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Frequently Asked Questions

NOTICE

This post is a temporary resting place for FAQs while we wait for the release of VertDocs.

What is Vertcoin?

Vertcoin is a digital peer to peer currency focused on decentralization and ASIC resistance. Vertcoin is aiming to be easily accessible to the everyday user without extensive technical knowledge. Vertcoin has started to lower the barrier of entry with lots of video guides and the development of the One Click Miner (OCM).

Why does ASIC Resistance Matter?

ASICs (Application Specific Integrated Circuits) are dedicated mining devices that can only mine one algorithm. Coins like Bitcoin and Litecoin both made GPU mining obsolete when SHA-256 and Scrypt ASICs were created.
ASIC Resistance and How it Makes Vertcoin Decentralized
Vertcoin believes that ASIC resistance goes hand in hand with decentralization.
ASICs are made by companies like Bitmain and almost all the original sellers of ASICs sell on a preorder basis. When pre ordering an ASIC you are buying from a limited batch that the ASIC company has produced. Often times the batch will not be fully filled and the ASIC company will often have left over ASICs. When the ASIC company has left over ASICs they will put them to work mining. Soon enough the ASIC company will have a very large amount of unsold ASICs that are mining and slowly the ASIC company starts to own a large part of the network’s hashrate. When an ASIC company(s) starts to own a large majority of the hashrate the network can become very centralized after a while.
Having your network consist of a few large companies can be very dangerous as they could eventually get 51% hashing power and 51% attack your network, destabilizing the network. When your network is made out of a lot of smaller miners, like Vertcoin, it is much harder for your network to be 51% attacked, therefore increasing network security. By having centralized hashing power your coin effectively centralizing the network as the centralized hashing power can deny transactions and stop any activity they don’t want.

What Ways is Vertcoin Superior to Litecoin and Bitcoin?

Network Difficulty Adjustments with Kimoto Gravity Well
Vertcoin uses a difficulty adjustment called Kimoto Gravity Well which adjusts the difficulty every block, whereas Bitcoin and Litecoin’s difficulty changes every 2016 blocks. By adjusting the difficulty every block Vertcoin’s block time can stay consistent by adjusting for the fluctuation in network hash rate from hash rate renting and part time miners. If a large miner switches off Bitcoin or Litecoin mining the network could be slowed to a crawl until 2016 blocks are mined and the difficulty can change to adjust for the new network hash rate. We observed this happen to Bitcoin when Bitcoin Cash became more profitable than Bitcoin and Bitcoin’s network hash rate saw a steep fall off, slowing the network to a crawl. If this was to happen with Vertcoin the difficulty would adjust after 1 block was mined, allowing Vertcoin to always be profitable to mine.
Anyone can Meaningfully help Verify Transactions
In Proof-of-Work crypto currencies miners help secure the blockchain and get rewarded with the block reward. In ASIC mineable coins like Bitcoin and Litecoin you can’t meaningfully verify transactions unless you pay 1000-2000$ for a ASIC miner. When you mine with a CPU or GPU in a ASIC mineable coin you make no meaningful impact on the network. It is like trying to break concrete with a shovel while everyone else has a jackhammer.
Simple Upgrades Aren’t Held back by 1-2 Large Miners
In ASIC market people buy ASICs in batches in a preorder. With Bitcoin ASICs there is not enough demand for ASICs so the batch often doesn’t get sold out so now the manufacturer has spare ASICs. Now that the manufacturer has spare ASICs they will often start mining with them and eventually the ASIC company has one of the highest hash rates. If the ASIC company doesn’t want a certain upgrade to go through, for example SegWit, they can vote with their hash rate to hold back the upgrade forever or at least until people who want SegWit get more hash rate.
You Have a Say in Protocol Rules and Consensus
In Bitcoin you are a passive observer because you can only issue transactions and you have no part in the process after that. In Vertcoin you can be apart of the process for deciding the ordering of transactions and deciding what transactions get into blocks.
Block Rewards and Transaction Fees are Distributed Evenly
In Bitcoin and Litecoin the block rewards and transaction fees are often given to the large miners in China due to mining centralization created by ASICs. Vertcoin distributes its mining rewards to people all around the world thanks to the mining decentralization.

When will Atomic Swaps Be Ready?

Atomic Swaps can be done in two flavors: On-chain and Off-chain (via Lightning Network). On-chain swaps were actually done already using Blocknet, you can see it in use on Youtube. We're looking into doing it again using Interledger.
However our main focus is to do off-chain Atomic Swaps using Lightning Network technology. Because it has the same benefits as Lightning transactions: No network fees and instant transactions.
For off-chain swaps we need Lightning Network to be fully operational. It's difficult to give an ETA on that since we aren't the ones developing it. U/gertjaap posted a video on the current state of the Lightning Network for Vertcoin a while ago, which you can see here.
This was actually the "bleeding edge" of Lightning Network at the time. was able to use it on VTC's main net, meaning that our blockchain is ready for the good stuff. As you can see however, it can't yet be considered production ready (most users would want a little better UX than a command line app).
Now off-chain Atomic Swaps is a technique based on the same principles as Lightning Network, but adds an extra complexity for it being across chains. So it's basically the same as a "multi hop" Lightning payment, which is not yet built by any of the implementations. They're still working hard on making the single-hop payments robust. So in order for AS to be possible, LN has to be fully operational.
A timeline cannot be given at this time, because frankly we don't know. The implementation of Lightning Network we feel has the most potential is LIT, because it supports multiple currencies in its protocol (where LND is bitcoin-only at the time and requires significant work to support other currencies, which is an essential part of being able to work across multiple blockchains).
LIT is open source and there's nothing secretive about its progress, you can see the development on Github. We even have our lead dev James Lovejoy (u/jamesl22) close to the action and contributing to it where possible (and our team as well through testing it on the Vertcoin chain).
So we're not developing LN or AS ourselves, we're just ready with our blockchain technology whenever it becomes available.
If we have any real progress that has some substance, you can expect us to let the world know. We're not interested in fluffy marketing - we post something when we achieve real progress. And we are not keeping that secret.

How do I Choose the Right Vertcoin Wallet?

Deciding what Vertcoin wallet you should choose can be a difficult process. You can choose between three different wallets: Core, Electrum and Paper. Once you decide you can use the "How to Setup Your Vertcoin Wallets" video guide to assist you.

Core

The Core wallet is the wallet that most people should use. It will store the entire blockchain (~2GB) on your computer. The Core wallet is the only wallet that fully supports P2Pool mining. You will also have to use the Core wallet if you plan to run a P2Pool node or any Vertcoin related server.

Electrum

The Electrum wallet is a light wallet for Vertcoin. You do not have to download the blockchain on your computer, but you will still have your own private keys on your computer. This is recommended for people who don't need to store Vertcoins for very long and just need a quick but secure place to store them.

Paper

The Paper wallet is as the name implies, a physical paper wallet. When generating a paper wallet you will get a pdf that will need to print out. A paper wallet is normally used for long term storage since it is the safest way to store Vertcoins. A paper wallet can also be called "cold storage." Cold storage references the storage of your coins offline, preventing you from getting hacked over the internet.

Ledger Nano S

The Ledger Nano S is a hardware wallet designed by Ledger. A hardware wallet is similar to a paper wallet since it is normally used for cold storage. The hardware wallet is on par with the security of a paper wallet while being easy to use and setup. Note: You should never mine directly to a Ledger hardware wallet.

How do I start mining Vertcoin?

We have many guides available for you to use depending on your computer specifications.
Nvidia GPUs on Windows
Nvidia GPUs on Linux
AMD GPUs on Windows WARNING: Very unprofitable, AMD optimized miner is coming very soon.

Where can I get the One Click Miner (OCM)

You can get the latest version of the One Click Miner in the Vertcoin Discord. The download is pinned to the top of the #oneclick channel.

What do all the Numbers Mean on P2Pool’s Web Interface

I've seen a lot of confusion from new miners on public p2pool nodes, so here's a primer for the most common static node page style, for first time miners: https://imgur.com/K48GmMw

Active Miners on this Node

Address - This is the list of addresses currently mining on this node. If your address does not show up here, you are not mining on this node.
Hashrate
This is a snapshot of your hashrate as seen by the node. It will fluctuate up to 15% from the hashrate you are seeing on your mining software, but will average out to match the output in your mining software.
Rejected Hashrate
This is the amount of your hashing contribution that is rejected, both in hashrate and as a percentage of your total contribution. Running your own p2pool node minimizes this number. Mining on a node that is geographically close to reduce lag also minimizes this number. Ideally you would like it to be less than 1%, but most people seem happy keeping it under 3%.
Share Difficulty
This speaks for itself, it is the difficulty of the share being currently worked on. Bigger numbers are more difficult.
Time to Share
This is how long you need to mine before you will receive any payouts, or any "predicted payout." The lower your hashrate, the higher your time to share.
Predicted Payout
This is the reward you would receive if a block was found by p2pool right now. If it reads "no shares yet" then you have not yet been mining the requisite amount of time as seen in the previous "time to share" column.

Status

Network Hashrate
This is the total hashrate of all the miners mining vertcoin everywhere, regardless of where or how.
Global Pool Hashrate
This is the total hashrate of all the miners mining vertcoin on this p2pool network, be it the first network or the second network.
Local Pool Hashrate
This is the total hashrate of all the miners mining Vertcoin on this node.
Current Block Value
This is the reward that will be given for mining the current block. The base mining reward is currently 50 VTC per block, so any small decimal over that amount is transaction fees being paid by people using the network.
Network Block Difficulty
This is the difficulty of the block being mined. The higher the number, the higher the difficulty. This number rises as the "Network Hashrate" rises, so that blocks will always be found every 2.5 minutes. Inversely, this number falls when the "Network Hashrate" lowers as well.
Expected Time to Block
This is a guess at how much time will elapse between blocks being found by this p2pool network. This guess is accurate on average, but very inaccurate in the short term. Since you only receive a payout when the network finds a block, you can think of this as "Estimated Time to Payout."

Why is P2Pool Recommended Over Traditional Pools?

Decentralisation

P2Pool is peer to peer allowing a decentralized pool mining system. There are many nodes setup around the world that connect to each other too mine together. Many other coins have 1 very large pool that many miners connect to and sometimes the largest pool can have 51% or more of the network hash rate which makes the network vulnerable to a 51% attack. If P2Pool is the largest network then that prevents the Vertcoin network to be susceptible to a 51% attack as P2Pool is decentralized.

PPLNS Payout System

P2Pool uses a PPLNS (Pay Per Last N Shares) payout system which awards miners more the longer they mine, sort of like a loyalty system. A drawback to this system is that part time miners that aren't 24/7 won't be able to earn that much.

2 Networks

While Network 1 is catered towards 24/7 miners and people who have dedicated mining rigs, Vertcoin has a second P2Pool network where part time miners and miners under 100 MH/s can go to mine.

Mines Directly to Your Wallet

P2Pool mines directly to your wallet and cuts out the middleman. This reduces the likely hood that the pool will run away with your coins.

No Downtime

Since P2Pool is decentralized and has different nodes for you to choose from there will be no downtime because the P2Pool network does not die if one node goes down. You can setup a backup server in your miner so that you will have no downtime when mining.

Anonymity and Security

When using P2Pool you use a wallet address making your real identity anonymous, you are simply known by a random 34 letter string. Along with using a wallet address instead of a username there is no password involved P2Pool preventing the possibility of cracking your pool account (If you were on a traditional pool,) and stealing all your coins.

How do I Find a Nearby P2Pool Node

You can find the public p2pool nodes the the P2Pool Node Scanners. If you want to find a network 1 node go here. If you want to find a network 2 node go here.

How do I setup a P2Pool Node?

Linux P2Pool Setup
Windows P2Pool Setup (Text)
Windows P2Pool Setup (Video) This guide setups a network 2 node. When downloading Python download the 32bit version, not the 64bit. Downloading the 64bit version causes problems with the twisted install.
How do I setup a change my node to network 1 or network 2?
In the P2Pool startup script when you type the --network flag add vertcoin1 for network 1 and vertcoin2 for network 2 right after.

How do I Buy Vertcoin?

You can see a video guide on Youtube, "How to Buy Vertcoin with Fiat Using Bittrex and Coinbase"

How can I get help with "X problem?"

The quickest way for you to get help is for you to join the Vertcoin Discord Group. We almost always have knowledgable Vertans, whether that be developers or experienced Vertans, online to help you with whatever problems you may have.

How can I donate to the Developers?

You can donate to the dev fund at https://vertcoin.org/donate/. You can select what you want your funds to go to by donating to the corresponding address. You can also see how much funding is required and how much we have donated.

Where can I see what exchanges Vertcoin is on?

You can see what exchanges Vertcoin is listed on at CoinMarketCap. You can see what exchanges Vertcoin has applied to be on at this google docs spreadsheet.

Where can I see Vertcoin's Roadmap?

The Vertcoin developers currently have a trello board where you can see the goals and what the status of said goal is. You can also vote on what you want the Vertcoin developers to focus on next.

What is the Status of the AMD Optimized Miner?

The AMD Optimized Miner internal beta is aiming to be ready by the end of September. The AMD Optimized Miner is currently being developed by @turekaj on the Vertcoin Discord. He currently does not have a Reddit account and Discord is the only way you can contact him.

What Does Halving Mean?

Halving means that the block reward for miners will be split in half. Halving happens around every 4 years for Vertcoin or 840,000 blocks. This means around December miners will only receive 25 VTC per block instead of the current 50 VTC per block.
If you would like to add another question to this list please comment it and I will get around to adding it ASAP.
submitted by asianboygames to vertcoin [link] [comments]

How Many More Birthdays Until Bitcoin Wins?

John Biggs is CoinDesk’s multimedia editor. The views expressed here are his own.
Bitcoin just turned 11 and it’s worth looking at what this technology has achieved. First, some context.
Facebook is 14 while Twitter is 13. Linux is 28. The World Wide Web – the network you’re reading this on – is 30. TCP/IP is about 44 years old, depending on whom you ask.
If you’re into a bitcoin, you’re most likely 18 to 34 years old, according to pollsters at the Global Blockchain Business Council. And you probably joined the bitcoin party about five years ago and own some fraction of or even a full coin. Some of you own many, many more.
I’m about as old as TCP/IP. I’m part of the generation that saw computing’s evolutionary bloom. If you’re younger, you’ve gotten used to modern networking technology and you don’t remember a time when everything wasn’t done on a screen. You were there for the birth of bitcoin.
But on the 11th anniversary of the white paper’s publication, we face a question: How long must we wait until bitcoin becomes like Twitter or Linux, something you use every day? Ten years? Twenty?
Bitcoin, from the vantage point of pure adoption, has been a failure. But it remains a beacon, the best chance we have for truly shaking up the status quo and, ultimately, changing the way we interact with our fellow global citizens.
When will we be using bitcoin daily? When will the underlying technology embed itself into the fabric of our financial lives?
Shrug. We don’t know.

Bigger than Belgium

A billion people use Facebook every month. On Twitter, it’s 330 million. Both services ramped up quickly but really took off in the last few years. Linux is on 98 percent of servers worldwide – that took a while but ramped up after the dot-com boom. The web is everywhere, but that took a solid 20 years to happen.
How many people use bitcoin? It’s hard to gauge on a decentralized network designed for anonymity. For a rough proxy, CoVenture Research says there are “11.2 million bitcoin addresses that hold at least .001 BTC,” or about $9 worth.
That’s a big number, more than the number of people in New York, including the outer boroughs. Of course, a single user can, and often does, control multiple addresses. Yet if anything, this estimate may be too conservative. An April 2019 survey by Harris Poll, done for Blockchain Capital, found 9 percent of Americans27 million people – own bitcoin.
All told, it’s safe to say that if the crypto community were a country, it would be bigger than Belgium.
But it’s not 330 million and it’s not a billion. It’s enough that the average investor and programmer will take notice and it’s enough for Hollywood to consider the topic interesting enough for an awful movie. But 11 million in 11 years is not good for bitcoin.
If bitcoin were a startup it would exist in the Valley of Death. In the startup world, an app with 11 million users is strong enough to generate some revenue but not interesting enough to attract massive investment. Bitcoin is like that. It works, but not enough to turn heads outside of a vocal minority.
So where is bitcoin going? Is 11 million enough? How many more years until we get to mass adoption?
Another shrug. Another unknown. We see the forward motion every day on CoinDesk – the various small changes that add up to a story of a platform. (Or is it a movement?)
This points to the primary problem that bitcoin and the wider crypto ecosystem has to accept. Facebook and Twitter achieved those numbers through investments far smaller than bitcoin’s $165 billion market cap. Linux and FOSS endeared themselves to developers enough that they happily contributed their time freely. The web grows by itself because it is trivial to join the party.
Bitcoin exhibits few of those traits. Bitcoin startup investment is cold. The crypto ecosystem is insular and self-involved, difficult for outsiders to join. The network grows by fits and starts, driven primarily by Number Go Up. We are in a vibrant early stage in which everyone is a pioneer and there is no clear way forward. Infighting turns developer against developer while crypto clowns hog the mainstream media’s attention. Only a small, dedicated group holds the center together.
This is bad for bitcoin.

Stay tuned

By all rights, bitcoin shouldn’t survive another ten years. All the things that made Linux and Twitter and Facebook and the PS4 and Netflix commercial successes cannot be seen in bitcoin’s rise. You can’t spin up an AI that can write Harry Potter novels on bitcoin.
Bitcoin doesn’t move the world’s financial markets the way Twitter does nor does it get the same scrutiny that Facebook does. There is no “bitcoin and chill.”
Yet it still exists.
You will argue that it’s unfair to compare bitcoin to all of those things. But bitcoin is both a financial instrument and a technical product. It is, like a startup, a work in progress, an alpha product that may graduate to beta with a little more time. It is a good idea that needs another summer or two to germinate.
When I first looked at Spotify, 13 years ago, I saw the future of streaming music that freed me from CDs. When I stuck a copy of Mandrake Linux into my Pentium computer in 1998 I saw a future of machines freed from paid software. When I look at bitcoin through the eyes of an uninterested programmer I see numbers and hype and scams. But when I look at bitcoin through the eyes of someone who wants to catch the next big thing, I see the possibility that one day, not too far in the future, it will make banking and commerce vastly different.
All of the other services and tools I mentioned above are reaching their apex. It’s all downhill from here. Bitcoin, to quote the Joker, is just getting warmed up.
Bitcoin is a slow burn, one that will take another five or ten years to really explode. And when it does it won’t be visible like Facebook or Netflix. It won’t be one level removed from our browsers, hiding just out of sight, like Linux. It will be ingrained in our lives, in the interaction between our money and the world. It will be the currency used between humans and robots and between robots and robots. It will become so useful that it will disappear.
Bitcoin is 11. Where is it going? When will it win?
Shrug. We don’t know. But, compared with everything that came before it, there is little out there to stop bitcoin and a lot of energy driving it forward. It’s only a matter of time.
Bitcoin 2014 image via CoinDesk archives
submitted by casazeg to cryptonewswire [link] [comments]

Why I own raiden - Estimating the upside

A week ago I made a post asking people to help make a prediction of the potential fee generation someone could get from owning Raiden and deploying nodes that generate micro fees on micro transactions.
First the assumptions for the best case scenario:
IoT, machine to machine, and micro transactions occur at an ever increasing rate similar to exponential increase of internet data. This idea comes from the "Internet of Money" a book I highly recommend to those trying to imagine what the future might hold.
Ethereum remains the most popular and useful smart contract, decentralized computer.
Raiden becomes the main way to transact off chain with Ethereum.
Here is the link to an article about running a popular lightening node: https://www.marc.cn/2018/06/the-lightning-network-a-huge-opportunity-to-learn-and-earn-money.html
Here are some quotes:
"However, the return on investment is huge. By trying and breaking things we learn a lot about Lightning, information that is not available online yet, and I believe we now know more about Lightning than most other companies in the crypto space. But even better, we also make money with it! I had seen theoretical models that predicted that well connected nodes can earn 60-80% per year in Bitcoin on the funds in its channels, but I thought that would only be the case once Lightning would be more mature."
"Turns out I was wrong. After many of our channels had crashed Chang added up the money in our node to see if we lost anything and it turned out we had made about $125 in just one week on an investment of $2000 (spread over 200 channels). That is over 5% per week! We paid about $60 in transaction fees to set up all the nodes, so basically we earned that back in 3-4 days and all returns after that are profit (not taking the time to set up the nodes into account nor the cost of the server). We can always close our channels and get our $2000 investment back, plus all the fees we earned."
I think the current amount of lightning transactions will likely be 3-4 orders of magnitude greater than it is today. I think the amount of off chain transactions for ethereum will be an order of magnitude above lightening because of smart contracts and the amount of ERC-20 tokens and future other types.
Lets assume today lightening transactions are happening at a rate of 10 a second. Bitcoin can handle 7 a second and lightening network is complicated and only dedicated people are actually using it so far. That gets us to 10,000 transactions a second. An order of magnitude above that for RDN and ETH is 100,000 a second. That comes out to 8,640,000,000 transactions a day.
Next we need to figure out how much fees will be. I am going to think about these fees in terms of BTC because I am just more comfortable with them. These probably should be considered in terms of ETH or in RDN.
I am going to assume the average transaction value to be $.05 USD. If a fee of 1-3% is currently considered standard, each average transaction would be 610 satoshis with a fee of 6-18 satoshis per transaction. I will choose to go with 10 satoshis.
Using these numbers, there will be 86 billion satoshis generated per day in fees. Converted to USD, that is $7 million dollars a day in fee generation.
How many nodes will likely collect all of those fees and how much RDN token is committed to those channels? Currently 2,892 lightening nodes with 117 BTC commited. The interesting thing to note here is that if the amount of nodes goes up, the fees per node will go down but the price of the token will go up as people tie up their RDN in channels to earn the fees. In the current environment, I think a 12% annual return will be where things equalize. So that means about $58 million worth of RDN will be tied up. At the current RDN price of $0.86 and the outstanding float of 100,000,000 (half of that is held by the developers, so this is really 50 million) that means 67% of the tokens would be committed to channels. Wow.
This means the tokens will rise substantially in value assuming they are required to generate these fees. That is $2,555,000,000 a year in fees. Visa generates $18 billion a year, but only nets $6.5. Raiden is decentralized and the costs should be significantly lower than the overhead of a major company. Lets say $2 billion is left after hosting, power, and other fees associated with running nodes. Visa is valued at somewhere above 20 times earnings.
If Raiden was valued at 1x these earnings, each token would be worth $20. At half of Visa’s price/earnings valuation, each token is worth $200. These valuations are supported by the fact that commiting the tokens to nodes generates fees at 12% which is currently a very desirable return. So your tokens could appreciate substantially and generate a healthy return by running services and nodes.
It is hard for our linear brains to think exponentially, but now imagine what happens if our connected world keeps evolving and the ideas expressed in “Internet of Money” becomes reality? Can you imagine how this looks at 1 million transactions a second or more? Do you have a hard time believing this outcome? Just look at internet traffic growth. The amount of microprocessor growth. Smart device growth. Human population. I was on the fence about my investment in Raiden because I wanted someone to run through the numbers and imagine what the best case scenario might be. No one would do that, so I decided to take a shot at it. I won’t be selling my RDN because this is a bet I want to make. I am likely wrong on most or all of my assumptions but I wanted to make sure that if I am correct about the way technology is evolving I will make the best investment possible.
TLDR: The best case scenario for Raiden is very good.
Disclaimer: This is not a prediction of the future and not a recommendation to buy. Every single assumption in this is likely wrong, so please use your own numbers or logic to get your best case scenario. Worst case scenario is 0.00000 and more likely than the best case.
submitted by logicwins0 to raidennetwork [link] [comments]

Top 10 Best Cryptocurrency Wallets for 2019 (Re-Post)

Top 10 Best Cryptocurrency Wallets for 2019 (Re-Post)
https://preview.redd.it/g0j3lqvymxi31.png?width=1500&format=png&auto=webp&s=f1024902cc5c9ad6f0417a419d0c1b4e75c2c13f
You've asked for a list to find the Best Cryptocurrency Wallet, We've delivered! Bitcoin prices have been rising throughout 2019, and have now hit over $10,000! Pair that with newer cryptocurrencies such as ether along with an increasing acceptance of blockchain tech plus media and government coverage, cryptocurrency wallets are needed now more than ever. Whether you are looking for the best cryptocurrency wallets, Bitcoin wallet or the best Ethereum wallet, we've got you covered.
These best cryptocurrency wallets, best Bitcoin wallets, and best Ethereum wallets have proven to be crowd-pleasers, and each comes with its own array of pros and cons that are mostly dependent on user preference:

1. Ledger Nano S (Best Ethereum Wallet)

The Ledger Nano S is a cryptocurrency multi-asset hardware wallet that looks like a folding flash drive. It can store Bitcoin, Ethereum, and other Altcoins. The Ledger Nano S connects via a USB cable and requires interaction with the device to confirm transactions. Ledger’s Nano S is also U2F authentication compliant for use with other services and can run multiple apps. The Ledger Nano is safe, relatively inexpensive, malware proof and cannot be hacked. For those reasons, we think it is one of the best cryptocurrency wallets. See #6 for the Nano's beefed up brother, the Ledger Blue!
Ledger Nano S is available in saffron yellow, flamingo pink, jade green, lagoon blue, and black.
According to Ledger, these are in stock and shipping.
Cost: $59
Buy Direct Here > www.LedgerWallet.com

2. Coinbase (Best Bitcoin Wallet)

CB is an established and dedicated cryptocurrency exchange, a Bitcoin, and Ethereum wallet, and is supported in more than 30 countries. They have helped over 10 million users transact more than $20 billion in cryptocurrency exchanges and is the industry leader for cryptocurrency exchange. They have a great user interface that is easy to use.
Free to sign up but they do charge a minimal transaction fee depending on the size of the transaction. Simply sign up, connect your bank account or credit card, then buy your cryptocurrency. You will need to verify your identity by providing 1 or multiple pieces of identity, depending on how much you buy. Once you've purchased your Bitcoin, You can easily transfer it to your “vault” for better protection. It may take several days to receive the first Bitcoins you purchase. Be sure to turn on 2-factor authentication for additional protection to your account, you can download this on any cell phone using Google Authenticator or Authy.
Sign Up Here > www.Coinbase.com

3. Ledger BLUE

The “Rolls Royce of hardware wallets! It is by far the most advanced hardware security gear on the market. Comes with a color large touchscreen, Bluetooth, and a rechargeable battery. Lightweight for easy transportation and storage. Works with multi currencies and extensible with other apps. Ledger offers enterprise-level security. If it wasn't for the high price point, Ledger would get our vote for the top 5 best cryptocurrency wallets.
Shipping: Available for Preorder, According to Ledger this will ship in late September 2017.
Cost: 229.00€ or roughly $270 USD.
Buy Direct Here > www.LedgerWallet.com

4. KeepKey

KeepKey is a simple hardware wallet that secures Bitcoin, Ethereum, Litecoin, Dogecoin dash, and Namecoin. Your assets are protected from hackers and thieves. They claim to be virus and malware proof because it does not have an operating system like your phone or computer. The firmware is 100% open source and works on PC, Mac, Linux, and Android. You can make modifications to their firmware or create your own, then run it. Keep Key has a great digital display and comes in a very appealing anodized aluminum and black polycarbonate case. They offer a 1-year limited warranty.
As of 8/29/2017, These are finally back in stock!
Cost: $99 USD.
Buy Direct Here > www.KeepKey.com

5. TREZOR

TREZOR is an industry-leading hardware multi-cryptocurrency wallet. They were the original hardware wallet and claim to be the most secure. These are quick to setup and easy to use. They offer a Google Chrome extension that communicates with your hardware. TREZOR combines an easy setup with a small, durable token for authenticating and storing cryptocurrency. The token can also act as a security key for the new U2F authentication process.
These are available in black and white colors.
Customers tell us these are shipping 4 days after the order is placed.
Cost: 89. € or roughly $10 USD. They also offer a “Multipack that contains 3 Trezors and gives you a 22€ discount.
Buy Direct Here > www.Trezor.io

6. StrongCoin

StrongCoin one of the best cryptocurrency wallets. They are a hybrid wallet allows you to send and receive Bitcoins just like any other wallet. However, the Bitcoin private key which is required to send money is encrypted in your browser before it reaches their servers. They can never hold your bitcoins ransom because you are able to download your entire account as a PDF. You can purchase bitcoins directly to your StrongCoin wallet so they are never at risk of theft on an exchange. StrongCoin is the longest running Bitcoin wallet. 110,000 users have signed up and it appears to be a very well known and widely used company. Their wallets are free to create but they do charge a small transaction fee depending on the amount of Bitcoin.
Sign Up Here > www.StrongCoin.com

7. Exodus

If this page were titled The Best Designed Cryptocurrency Wallet and not Best Cryptocurrency Wallets, Exodus would be the clear winner. Exodus is the first desktop software wallet to have ShapeShift built into the interface in order to allow for rapid conversion between various altcoins and cryptocurrencies. Beyond having ShapeShift integration, Exodus is a multi-asset wallet and lets you store your private keys in one application with a customizable user interface. You have full control over your encrypted private keys, they have beautiful live charts and you can customize the look and feel of their interface. They offer 24/7 support via their help desk or email which makes communication nice for late night projects. They also offer a Slack channel for communication with other users. Exodus is available for Windows, Mac, and Linux. This software is free to download.

8. Jaxx – Ice Cube

Jaxx established their brand by allowing for cross-platform support with their crypto wallet. They have added integration support for ShapeShift and gives users a multi-currency wallet that they hold the private keys for. Jaxx announced the “Ice Cube” which is a hardware wallet with a camera and cellular chip for broadcasting transactions that never connects to the internet. The Ice Cube is water and fire resistant. This company is small and can also be stored in a safe or safety deposit box for security. Jaxx has a beautiful user interface and visible code, you can tell they have designed this product for the amateur as well as the most experienced Crypto enthusiast.

9. Mycelium

Granted the prestigious “Best Mobile App” award by Blockchain.info in 2014, the wallet provides the ability to send and receive bitcoins whilst benefiting from bank-grade security. Mycelium is an Android-based multi-asset cryptocurrency wallet that has been tested by hundreds of thousands of users. At the time of writing this, they had the most stars on Google Play. They are in the midst of integrating with a variety of third-party service providers to bring new and emerging applications into a realm of usefulness that can only be achieved with native functionality and a high degree of user trust. They currently integrate with Cashila, Glidera, Coinapult, Trezor, and Ledger. Mycelium also has hardware wallets and is working to further the development of decentralized applications (DApps). They are constantly upgrading this software. They are working on a personal finance tool to pay your bills and manage your finances and investments. This is the best Ethereum wallet and the best Bitcoin Wallet.

10. Electrum

Electrum was created by Thomas Voegtlin in November 2011, as a result, various developers have contributed to its source code. A software wallet that was designed to give users the freedom to manage their funds and private keys in a secure manner. Electrum allows you to store your private keys offline and integrates with some hardware wallets like TREZOR or Ledger products. Electrum utilizes decentralized servers to ensure minimal to no downtime.

Different Types of Cryptocurrency Wallets:

What is a Cryptocurrency Hardware Wallet?

These cryptocurrency Wallets store your information offline so it cannot be hacked. While it is more expensive than most other wallets, It can be a great investment. A lot of people buy 2-4 hardware wallets to spread the risk of losing one. We recommend storing this in a safety deposit box at your bank or in a very safe and secure place in your home. The downside of these wallets is losing your wallet, be careful! For security, we think these are the best cryptocurrency wallets available.

What is a Cryptocurrency Web Wallet?

These are the easiest wallets to use and the most convenient. Most websites will allow for 2-factor authentication through Google, text message, or Authy. This adds a great layer of protection. We have heard of very few cases where these accounts were hacked individually but we have heard of entire exchanges getting hacked which results in stolen bitcoins. We always keep some of our Bitcoin, Litecoin, Ethereum and other Altcoins in web-based crypto wallets so we can easily day trade and move funds around.

What is a Cryptocurrency Desktop Wallet?

These are great wallets for storing cryptocurrency. You don't have the concern of losing your wallet like a hardware cryptocurrency wallets. You don't have the concern of getting hacked like web-based cryptocurrency wallets. These desktop wallets are generally free or low cost. You are however at risk of losing your wallet if your computer fails or is lost or stolen. If you want to make sure you don't lose these wallets, we suggest printing them on a durable material like foam board printing. These can make for the best bitcoin wallet and also the best Etereum wallet.

What is a Cryptocurrency Mobile Wallet?

Both Apple and Android offer mobile app based cryptocurrency wallets. These are great because you can use them on the go and on the fly. We have read several reports on Reddit about fraudulent apps that steal your bitcoin wallet and all of its contents so please be sure to use a well known Mobile crypto wallet.

Link to original blog post: https://www.disruptordaily.com/top-10-best-cryptocurrency-wallets-for-2017/
submitted by Tokenberry to NewbieZone [link] [comments]

Of Wolves and Weasels - Day 49 - Such Memories

Hey all! GoodShibe here!
So, yesterday I started putting this thing together and WOW did you come out in droves to help! Thank you so much for sharing your ideas and memories. And thank you kindly to the mods for stickying that post!
In one day we reached 60% completion on a list of top 100 Memories and Achievements of Dogecoin! That's amazing! So many fantastic memories and accomplishments!
Which leads me to share some developments.
The title of this endeavor is now - unless someone comes up with something better:
Such Memories: The First 100 Days of Dogecoin
I'm going to be putting this together as a 100-ish paged commemorative book - for free in PDF, probably with some cost as a fancy, printed book (Sold as close to 'at cost' as I can get it -- slipstream- has recommended selling it at a small profit, with profits going toward charities or Dogecoin Foundation for charities, etc - thoughts?).
Artists, if you've got Dogecoin-themed artwork you want to see in this, please, put forward some links to hi-res CMYK copies and I'll do my best to fit it in.
Also! Let's find the funniest, best Dogecoin-related memes that we have put together so far and include them as well! :D)
We're also going to need a cover.
Any artists out there care to try their hand at designing a cover for this?
We'll put it to the community to vote for the one they like the most, and we'll include the others in the book somewhere :D) If you're an artist who submits to the project, you'll get full credit and promotion for your site inside the book (probably in a credits section at the back).
I also want to hear from the community - think up some interesting stories, maybe what got you into Dogecoin. What your fondest memories of Dogecoin are. These first 100 days have been an exciting rollercoaster of adventure... let's make that we never forget all the fun memories we've had together. If you have personal, fun pictures you'd like to share, fun, personal stories you want to see get into the book, then start working on them now, put them into the comments, keep them on hand!.
Here's the list that I have right now - in no particular order:
MOMENTS/ACHIEVEMENTS:
  1. ummjackson's first 'joke' on Twitter about Dogecoin being 'the next big thing'
  2. The original bitcointalk Dogecoin forum page
  3. Dogewallet Hacked
  4. The first Dogecoin paperwallet design
  5. Save Dogemas is put together by the community, to help out victims of the hack. (News articles?)
  6. 15 Million doge raised by the community to save dogemas
  7. SilentShibe's first tip (not sure when that was)
  8. Ophrahshibe's mass-tippings
  9. The forming of the Dogecoin Foundation
  10. Vault of Satoshi adds the first DOGE->USD/CAD exchange
  11. Dogesled - Helping to fund the Jamaican Bobsled team - NPR article
  12. Shibes actually getting to meet with the Jamaican Bobsled team after funding! (pics?)
  13. Olympics Funding: Shibes raise funds to send Indian Lugers to Sochi in a matter of hours
  14. Strange Donuts - The very first brick-and-mortar food purchase with DOGE!
  15. NYC Dogeparty
  16. Doge 4 kids
  17. Doge is now accepted at experiment.com
  18. DOGE bought pizza for the homeless
  19. DOGE's first fork. Scary! slipstream- has found the exact time and date of our first fork: 2014-01-05 00:09:17 (UTC). That's Day 28
  20. The first time a /dogecoin post reached the top of /all (Thanks 42points for the link!)
  21. The first News article to cover Dogecoin - (http://wwwh.eavy.com/tech/2013/12/dogecoin-what-is-shibe-cryptocurrenc/) on Heavy.com dated Dec 9th, 2013, but not sure if it counts as 'News'. Thoughts?|
  22. The first-ever Of Wolves and Weasels post
  23. the creation of Dogec0in.com - a popular Dogecoin waterbowl/chat room
  24. the Christmas Day Dust Fix
  25. Kabosu's owner started accepting dogecoin for charity
  26. Reddit freaked out because they didn't realize it was an online wallet and thought that tiny withdrawals were indicative of hacking
  27. The first Halvening
  28. Our massive jump up from 25 Satoshis
  29. Dogecoin mentioned in the Australian senate (official Transcript here!)
  30. Payment systems for online shops: Moolah.ch, Coinpayments.net, Dogeapi.com
  31. PoS systems for brick and mortar: dogePoS, moolah (still in beta)
  32. Markets to sell product in dogecoin: shibemart.com, muchmarket.com
  33. Classifieds: suchlist.com
  34. Micro jobs network: dogerr.com
  35. The birth of Dogetipbot v1 - Went Live on 12/15/2013 - First ever dogetip!
  36. Rise of the tipbots: Youtube, Facebook, Twitter, Imgur, etc.
  37. Fork #2
  38. The "inflationary" characteristic of Dogecoin announcement from devs
  39. DogeTEL. The first cryptocurrency phone service!
  40. Fido.pw - sending DOGE via SMS anywhere in the world!
  41. Stuffcoins.com - created by stuffcoins an eBay for Dogecoins
  42. alwaysgeeky, Indie dev sells his game VOX for DOGE.
  43. triverske and friends over at /dogecrafters teach our DOGEs how to play Minecraft! with us - and share our DOGEs on any Minecraft Server
  44. vBulletin Forums Integration! daveaite has created a free plugin for vBulletin, allowing users to directly tip one another in Dogecoin!
  45. 'Universal' DOGE Tippers: DogeTip.co, built by woowdoge and Altcend, created by altcy. Send (password protected) tips - both the sender and the receiver have to sign up.
  46. DogeBucket.com is a Crowd Funding/Crowd Tipping website created by Goldiepurps and their team!
  47. Doge Lodge in Tehran, Iran - created by lincoln_lava - is a homestay if you happen to be in the area (or want to visit) for 10K DOGE per night.
  48. ÐTunes, created by hjras is a great place to sell and buy independent music for Dogecoins. Very cool!
  49. Stat-checkers: DogePulse, created by shibeous and Dogedump, created by cryptogaz
  50. Armstrong Steel - A Steel Building OEM Manufacturer is now accepting Dogecoin! Thanks to SekcRokStallion for their efforts to bring their workplace on board! That's most-definitely a first!
  51. Corinthian Transportation is now allowing you to pay for Limo services with Dogecoin!
  52. Buying homemade bbq/marinade sauce with DOGE - dogesauce.com
  53. @Adult's record-setting DOGE-tip on Twitter
  54. (http://www.reddit.com/dogecoin/comments/1yfnrx/looks_like_kraken_got_doge/) that the exchange [Kraken.com](http://www.kraken.com] is now accepting Dogecoin!
  55. The UniverseProject will be using Dogecoin as the main currency for their game VoidSpace.
  56. The "SnowDoge" Competition! Check it out HERE
  57. MultiDoge - First altcoin light wallet.
  58. Treats.io - The first place to buy giftcards with DOGE
  59. Buygold.io - The first place to buy Reddit Gold with DOGE
Added today:
TOTAL: 100/100
Also: I was thinking we might have a pour-one-out for all the Orphans - a page dedicated to all the blocks we lost along the way... thoughts?
What have I missed?! Let me know in the comments!
It's 8:29AM EST and we're at 53.95% of DOGEs found. Our Global Hashrate is spiking from ~61 to ~98 Gigahashes per second and our Difficulty is down slightly from ~1024 to ~1014.
Lots of fantastic things in store, let's keep this list growing!
As always, I appreciate your support!
GoodShibe
TL;DR: 100/100!!!
submitted by GoodShibe to dogecoin [link] [comments]

ColossusXT Q1 2019 AMA Ends!

Thank you for being a part of the ColossusXT Reddit AMA! Below we will summarize the questions and answers. The team responded to 22 questions! If your question was not included, it may have been answered in a previous question or AMA. The ColossusXT team will do a Reddit AMA at the end of every quarter.
We do have a question. Should we change the two examples that we have used for the past year, or should we continue to use those?
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The winner of the Q4 AMA Contest is: Gettyspurgu
You will receive a message from me shortly for a deposit address.
Thank you to everyone who participated.
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Q: Why does your blockchain exist and what makes it unique?
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A: ColossusXT exists to provide an energy efficient method of supercomputing. ColossusXT is unique in many ways. Some coins have 1 layer of privacy. ColossusXT and the Colossus Grid will utilize 2 layers of privacy through Obfuscation Zerocoin Protocol, and I2P and these will protect users of the Colossus Grid as they utilize grid resources. There are also Masternodes and Proof of Stake which both can contribute to reducing 51% attacks, along with instant transactions and zero-fee transactions. This protection is paramount as ColossusXT evolves into the Colossus Grid. Grid Computing will have a pivotal role throughout the world, and what this means is that users will begin to experience the Internet as a seamless computational universe. Software applications, databases, sensors, video and audio streams-all will be reborn as services that live in cyberspace, assembling and reassembling themselves on the fly to meet the tasks at hand. Once plugged into the grid, a desktop machine will draw computational horsepower from all the other computers on the grid.
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Q: What is the Colossus Grid?
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A: ColossusXT is an anonymous blockchain through obfuscation. Zerocoin Protocol, along with utilization of Armis (I2P). These features will protect end user privacy as ColossusXT evolves into the Colossus Grid. The Colossus Grid will connect devices in a peer-to-peer network enabling users and applications to rent the cycles and storage of other users’ machines. This marketplace of computing power and storage will exclusively run on COLX currency. These resources will be used to complete tasks requiring any amount of computation time and capacity, or allow end users to store data anonymously across the COLX decentralized network. Today, such resources are supplied by entities such as centralized cloud providers which are constrained by closed networks, proprietary payment systems, and hard-coded provisioning operations. Any user ranging from a single PC owner to a large data center can share resources through Colossus Grid and get paid in COLX for their contributions. Renters of computing power or storage space, on the other hand, may do so at low prices compared to the usual market prices because they are only using resources that already exist.

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Q: Could you give me 3 points where COLX exceeds other crypto and 1/2 point where you think COLX lacks behind or could do better. (Pardon me if my English is not perfect)
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A: Sure.
Exceeds:
  1. Community Service and Support – ColossusXT provides 24/7 support in our Discord Server
  2. Dedication – The ColossusXT team holds quarterly AMA’s and look forward to community questions and feedback. We are active daily in Discord to address ANY concerns or questions.
  3. ColossusXT is building a product, rather than hyping up a nonexistent product.
Lacks:
  1. Marketing – As above, we are well aware that our marketing presence is not as active or strong as many of these other projects. I believe that many of these projects will die off, and the only thing keeping them alive is their marketing. They have stopped building, ColossusXT is very goal and task oriented. Marketing is intended to pick up as we get closer to the Colossus Grid going live.

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Q: Hi
My question to the ColossusXT team :
Can you tell us more clearly about the environmentally conscious cryptocurrency. In what way is it environmentally conscious
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A: You use less energy to mine Proof of Stake blockchains than you do with Proof of Work blockchains. As the Colossus Grid comes online, the computing power that you can rent cycles from, and the decentralized storage will also be at competitive pricing with current systems.

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Q: What is colx doing different from the hundreds of other low market cap coins to rise up and be a player in this saturated market?
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A: ColossusXT’s greater purpose is the Colossus Grid. Please take some time to check out our whitepaper, there is also some sample descriptions of ColossusXT and the Colossus Grid in the first post of this AMA.

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Q: What projects are the COLX team working on in order to promote/achieve mass adoption and usage?
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A: It's difficult to announce anything before the processes are finalized. We have some strategic marketing plans in place for the Colossus Grid that will bring a significant amount more visibility to the Colossus Grid and ColossusXT. I really don't like answering questions by saying I cannot share this information, but in this case; I do apologize.

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Q: How does COLX in its current state and development lend itself to grid computing? For example, why fork from PIVX to make a grid computing coin?
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A: We forked from PIVX because each team member values privacy as a right, and our community is built around thousands of individuals who believe in your right to privacy, and want to make the world a better place by reducing energy consumption and allow access to supercomputing power to any researching, business, or person in the world.

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Q: Hey team! Just wondering COLX initially intended to make their own payment method if I recall correctly. Is the plan to just use these third party cards or are we eventually going to implement our own. I feel like this may bring great value to the project for us being less dependent on other companies. Cheers!
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A: We are currently focusing much of our development funding and time towards the Colossus Grid, we may have more time to focus on this in the future. Currently we have integrated with Polis and Plaak cards in the meantime. We also intend to make fiat purchases available in wallet and will be available on an exchange in the coming weeks.

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Q: As a ColX investor I would like to ask the critical question, why would any online or real store accept colX over many other crypto currencies, that are either more established or more well known.
Can you answer me this as reflective and honest as possible?
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A: Many of these larger projects have also completed large ICO’s. What will make ColossusXT stand out is the level of development we will continue to push and the continued relationships and partnerships we form that will have a meaningful impact on the Colossus Grid; Having no ICO and no premine ColossusXT may seem like a small marketcap coin to many investors, and in a statistical standpoint it certainly is, but at one point those competing projects were not established, and they were not well known. We are here to build the Colossus Grid network, and continue to improve on that network for years to come.

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Q: Do you think there’s any merit in considering a name change, perhaps coupled with a brand re-launch? “ColussusXT” is rather a mouthful!
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A: We have this question come up every AMA I think, and we have given it some serious discussion. It is certainly possible, about a year ago we rebranded from ColossusCoinXT to ColossusXT.

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Q: COLX is quite far in its development now. With that in mind, can the team give us any details as to the architecture for the Colossus Grid? What are its specifications, for example?
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A: A detailed business plan for the Colossus Grid will be revealed soon. The technical details are being worked in a private repo until Beta. Prior to Beta launch when we have all of our ducks in a row. We will release technical details and create a branch in GitHub.

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Q: the daily volume is sometimes below 1k usd, that really is pretty much nothing. how soon can we expect a listing at a "bigger" exchange like for example kucoin?
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A: Listing with some of the larger exchanges requested by the community requires some legal documents that we needed to procure and compliance regulations within the United States. We have acquired them this week thanks to our amazing legal team, and we hope to offer some more exciting exchange opportunities to the ColossusXT community very soon.

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Q: Also are you guys planning to decrease roi on the masternodes and stakingas it is still quite high to seem realistic
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A: We have one of the lowest of the crypto projects. About the time you wrote this question there was a bug in the masternode tracker, and it has since been fixed. Please let me know if this was your concern when you have some time. Thank you

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Q: If you have no money, where will you get it to develop the project? Public recognition will not push the token up if the team has no money for its development. Society recognizes that cryptocurrency, which in a short time achieves great results. And with the help of one enthusiasm, you will not achieve much in any economic sector.
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A: I think there may be some confusion here. We don’t have 0$ funding. We use our own income, the dev fund, and the community crowdfunds for certain opportunities. We have limited funding, which basically means we thoroughly double check everything before spending a dime, we use much of our funding for development of the Colossus Grid.

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Q: Where do you see ColossusXT 10 years from now?
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A: In 10 years I see ColossusXT as a leader in supercomputing and distributed storage industries. ColossusXT will bring cheaper, and more efficient methods of storing and computing, drastically reducing cost and energy consumption to process and store big DATA. "Why our blockchain exists?" takes this further for you; As the Colossus Grid network grows, the strength of it's computing power will grow. Hopefully in 10 years we have cheaper supercomputing power that has helped colleges and researches further their dream of solving problems, answering the difficult question; Skynet does creep into the back of my head from time to time though. ;)

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Q: Will to be possible to bridge a Enterprise Resource Planning (ERP) or SAP like system to provide corporate solution not only for recording business transaction but also to protect Corporations data using COLX protocal?
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A: Colossus Grid will be able to be used either in individual or in corporate level. Depending on the need, corporations can utilize Colx coins to buy storage and make their data protected over Grid instead of depending on servers if relevant.

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Q: After the incident of fake stake attack how do you guarantee the security of chain-based Pos? I mean how you improve the security to prevent or not to happen it again? As you mention that colx is alternative to bitcoin. Is there a possible of mass adoption to colx like bitcoin(btc past 10 years)? If yes. How could it be?
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A: Yes. The Fake Staking bug did not affect your coins, it would cause your wallet to crash for the most part. We are currently doing a massive codebase upgrade, to fine tune and continue to scale our technology and security with technology as it changes.
Certainly mass adoption is possible, but as Bitcoin is not building a network for distributed computing power and storage, we still have some work to do for mass adoption.

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Q: Remote activation is possible for masternodes and it is much safer. Is there already a blockchain technology to do that for staking? If not, is it possible to invent it and apply it in COLX?
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A: There is currently no roadmap item to enable remote activation or offline storage for staking wallets. As a community-based project COLX does honor feature requests when the community demand justifies the cost of implementation or when the community is able to directly fund the change, however, we have not seen any demand for remote staking activation thus far. If this becomes a more common request, we could definitely consider using our monetary resources to add that to the COLX featureset.

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Q: How many Funds do you have left to keep the project running if the bear stays a year longer?
In other words: How safe is my money in colx Tokens?
I dont have a problem to hold them for many years. But I have a problem if you're going to quit the project before the bull returns :-P
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A: ColossusXT was initially built with team funding, to us; it is very important that we complete the Colossus Grid not only for the ColossusXT community, but to show the entire blockchain industry that you do not need an ICO, or a premine to create something great. The Colossus Grid will allow any user to rent or share computing power or storage across the ColossusXT decentralized network. Now we continue to work with funding contributions directly from core team members, we are also utilizing masternode governance that has also increased our funding since ColossusXT was initially launched and several community crowdfunds have been successfully completed. The bear market could continue, and ColossusXT will continue building and optimising the ColossusXT network and the Colossus Grid. We have set out with a mission, and we fully intend to complete our mission of bringing cheap and efficient computing power to anyone in the world.

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Q: How many active developers does COLX have?
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A: 5 active developers are currently apart of the ColossusXT team. We do intend to grow our team with more developers who are passionate about grid computing, creative and willing to break boundaries.

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Q: What are the prerequisites for a system to join Colossus Grid for sharing computing power and storage space?
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A: These details will be released prior to Beta invitations being sent out. There is much that will change between Alpha and Beta.

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Q: Are there any plans to actively promote growth of open source contributions towards ColossusXT core or peripherals?
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A: All COLX development is open source and available on GitHUB. COLX is a community-based project and we encourage talented developers who wish to contribute to contact to the team to see how they can best contribute. The COLX development team is currently focusing on delivering our core applications in a timely manner as outlined in the roadmap. As that work nears completion, we will be looking to expand the team and the COLX product into a variety of peripheral use cases.

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Q: What are your thoughts as to why trade satoshi is delisting COLX?
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A: Tradesatoshi is delisting COLX, along with several other coins, due to their new volume policy. After being listed on Cryptopia last year, most of the COLX volume had departed Tradesatoshi. While it would be nice to have COLX still listed on Tradesatoshi, it likely would lose any potential volume once Cryptopia fully reopens with deposits/withdrawals. The team is committed to applying for larger and better exchanges to help increase volume and the availability to larger numbers of investors. Please keep in mind that the current deadline to transfer any remaining coins from Tradesatoshi is April 15th.

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Q: Hey guys, first of all, great job on the recent addition to Binance Info's transparency initiative. Keep up the great work!
In thinking about potential markets for grid computing, one area that I and many other crypto enthusiasts and miners are already familiar with is hashrate clearing houses like Nicehash. Nicehash is a great service but, just like a centralized crypto exchange, requires trusting a centralized point of failure in order to function. As we've seen in the past, this can lead to issues.
With all that said, it would be great if, in the future, mining hashpower could be bought and sold through a grid computing marketplace in a way that is decentralized, private and trustless. I was wondering if the team had given any thought to a pilot test of the upcoming grid by integrating well known open source mining software as a working platform for compute power buyers and sellers.
I think doing this would have two key advantages:
1. Crypto miners are generally familiar with the process of holding and moving around smaller cap altcoins with their native wallets and may not have an issue buying or selling COLX to complete grid transactions, so in a lot of ways these kinds of folks are ideal candidates to be the first users of the COLX Grid; and
2. If miners come on board in a meaningful way, it may help establish some buying and selling volume for COLX as contracts are bought and sold. This is obviously important for future price stability.
I know that's a lot, but I figured this was a good place to ask and I'd love to know the team's thoughts on this. Thanks for your time and once again, keep it up!
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A: Yes, we have discussed this previously as a team. It is possible that some of the computing power being rented on the decentralized marketplace is being used to mine other cryptocurrencies. While this is not initially the intended purpose for using computing power on the Colossus Grid. It certainly is thinking outside the box, and I’m eager to read some of the future results from community members who do use it for this purpose.

Important Information:

Website
Whitepaper
Roadmap
GitHub
Wiki
Governance
Partners

Follow ColossusXT on:

Twitter
Facebook
Telegram
Discord
Forums
Interested in joining the ColossusXT team?
Contribute an Idea!

AMA History:

2018 Q1
2018 Q2
2018 Q3
2018 Q4
submitted by PioyPioyPioy to ColossuscoinX [link] [comments]

BE AWARE! AN AVALANCHE OF STOCKBROKERS IS ABOUT TO HAPPEN! A NEW COMMISSION-FREE CRYPTO FUTURES MARKET IS ABOUT TO BE LAUNCHED, LET'S MEET DIGITEX





Crypto has been struggling to get accepted into formal financial markets recently, Bitcoin ETF proposals have been rejected by the SEC one after the other. The SEC argues that its main concerns are market price manipulation, security issues on the crypto exchanges, low liquidity and mall relative size of the crypto market.

While it might get some more time to develop more reliable tools on the crypto ecosystem and have SEC approves bitcoin ETF. It is well known that strong future markets help to stabilize volatile prices of many assets such as commodities. Futures markets have to be incentivized to grow further and bring more overall reliability to the crypto ecosystem.

Foreseeing this opportunity, a experimented pit-trader from the London International Financial & Options Exchange (LIFFE) has inspired a crafty team to create the perfect opportunity for crypto futures markets ultimate expansion an growth. They create a concept that will change the current paradigm of crypto futures market. They have created Digitex, the first commission-free futures exchange.


Why futures markets are such a big deal?


Futures markets are one of the most important tools for stabilizing volatile markets. Its relevance for the crypto ecosystem lies in three factors:


But despite its great benefits and low costs, futures market's fees are still too much of a burden for high volume, low profit, margin futures trading strategies. This situation hinders futures market liquidity and turns possible profitable strategies into losing ones after commissions are charged.

Digitex gamechanger commission-free scheme



Digitex will create an Ethereum based token, it will be called DGTX. It will be used to denominate all profits, losses, margin requirements and account balances. Therefore, any trader that wants to participate in the commission-free trading environment of Digitex should own DGTX, thus a great demand is expected from the traders willing to join this unique opportunity.

Having read this much a question yet remain unanswered, how is it possible for an exchange to operate without charging fees? How does it sustain itself?



At this point is when the genie came out of the lamp. Instead of charging fees on traders that bring liquidity to the futures market, Digitex revenue model imposes a small inflationary cost on all token holders that will be widely outweighed with the high demand that the DGTX token will have. Even better, Digitex Futures Exchange will leverage onto the trustless security system of the Ethereum Blockchain to guard account balances. An Ethereum smart contract will hold all account balances, Digitex will inform the Smart Contract about each trader outstanding margin liabilities and profit/losses balance.

In a nutshell, Digitex Futures Exchange will not hold any physical data about traders balance nor it will hold any private key from users. Thus, malicious actors have little to no incentives to attack the Digitex.

The icing on the cake. DGTX holders will be the ones who decide DGTX minting rates


DGTX token issuance will be democratically decided by the DGTX holders through a mechanism leveraged on the Blockchain, this will readily enforce a healthy DGTX token inflation rate, aligning the interest of the DGTX holders with the interest of the Digitex Futures Exchange.


Futures traders' commission-free Utopia, a dream that became true


By creating an ERC-223 token on the Ethereum Blockchain, and by using it as the native currency of the Digitex Futures Exchange, traders will be to enjoy more freedom than ever with a operating scheme that allows them to implement whatever trading strategy they desire without fees-related limitations.


This new high liquid market will attract many traders that must buy DGTX token to cover the margin requirements to open trades. Thus, the inflationary pressure will be more than matched with the high demand for DGTX tokens. Besides, the first two years there will be no issuance of DGTX tokens since all operative cost will be covered through the DGTX ICO. Skeptical traders will have more than plenty time to watch the performance of the Digitex Futures Exchange, but traders will have to keep in mind that the early bird gets the worm.

According to Digitex Futures Exchange projections, in early 2021 the first issuance of DGTX tokens will occur. Traders will vote to decide how many tokens will be minted to cover for software development, servers, staff, premises, marketing, support, and other related costs to keep the platform fully operational. They will do so through a Blockchain-based, Decentralized, Governance Mechanism that will allow DGTX holders to vote with a 1-DGTX/1-vote ratio.

If you have had enough and don't want to waste more time to join this project, go here and get early access. If not keep reading that it just gets better



DGTX token details


Since all profits and losses are denominated in DGTX tokens, each trader have to own enough DGTX to cover his potential losses because the tick value of each Digitex futures contract is one DGTX token.

The owner of DGTX tokens can engage in the buying and selling of liquid futures on the price of the Bitcoin against the USD, Ethereum against the USD, and Litecoin against the USD. Due to the commission-free framework of Digitex, the more active the trader is, the higher the intrinsic value of each DGTX token he has because he is saving the commissions than any other platform would have charged on him for doing the exact same trade.

Let's summarize the key aspects of the DGTX token



DGTX will be the native currency of Digitex The tick value of each Digitex futures is one DGTX
Traders' margin requirements will be covered with their DGTX Account balances are denominated in DGTX tokens
DGTX minting will cover for Digitex operational costs The initial supply will be 1 billion of DGTX tokens. The funds risen in the ICO will cover the costs of Digitex for the first 2 years of operation.
Integration with swap.tech ,0xproject, and bancor.com enables free tradeability of DGTX with BTC, ETH, and other major Cryptocurrencies Traders can eliminate DGTX price risk thanks to DGTX peg system.


Price risk is no longer a burden for traders thanks to DGTX peg system


Hedging is a basic strategy in stock markets to protect portfolios and reduce the negative effects that negative market movements may have on traders investments. Traders that hedge risk on their physical holdings of the underlying instrument (Bitcoin, Ethereum, or any other cryptocurrency) cannot tolerate DGTX token's price affecting their positions.


To protect traders from DGTX price volatility, Digitex Futures Exchange has futures contracts on the price of DGTX that allows traders to lock in their tokens and sell them at current market prices. This great tool allows traders to keep possession of their DGTX tokens to cover their margins and keep trading on the Digitex futures market. The downside of this strategy is that traders will not earn the profit if the DGTX rises because of the tokens being locked at a lower price.

As with any other future contract, the trader has to deposit a margin payment in the currency to which he is pegging the value of DGTX to cover his potential loses on the trade. Because the trader is protecting himself against DGTX price risk, another currency has to be employed to cover margin payments. ETH deposits are handled into an independent account balance smart contract and BTC deposits are converted into RSK and deposited into a separated Account Balance Smart Contract (RSK is a Turing complete sidechain of the bitcoin network).

DGTX token availability


If DGTX token will be the fuel of a high volume and very liquid futures market, it has to be readily available and as frictionless as possible. Some traders may be happy to hold DGTX for the long term, but most traders will buy DGTX tokens only when needed and convert them back to other cryptocurrencies as soon as their positions are closed.


To properly address this situation, Digitex Futures Exchange will integrate 0xproject into its platform. Besides, 20% of the proceeds from token sales will be used to create a liquid market of DGTX tokens to ensure that a enough offers can sustain the expected high bid levels.

Traders on the Digitex Futures Exchange are expected to buy DGTX at the start of each trading session, use the DGTX peg-system to lock in their sale price and convert them into the original cryptocurrency a few hours later when the trading session ends. This workflow will ensure a massive volume of DGTX traffic that will benefit greatly in the long term.

DGTX token supply and distribution



DGTX token issuance model and price projections


DGTX token creation events will occur via a fully auditable Smart Contract, a transparent review of DGTX token supply and event creations will be always available. Digitex team build price projections over these basic assumptions:
  • 2% of traders are whales who buy a total of $150,000 USD worth of DGTX tokens over a 2 year period.
  • 10% of traders are medium-sized traders who buy a total of $15,000 uSD worth od DGTX tokens over a 2 year period
  • 88% of traders are small traders who buy a total of $1,500 USD worth od DGTX tokens over a 2 year period
Quotation source: Digitex white paper page 7-8



Source: Digitex white paper page 8
This is an oversimplified model that doesn't take into account the overall trend in the crypto market. If the market turns bullish the rise in DGTX prices will be more than expected, but if the market is too bearish, the expectations may not be fulfilled even if the right number of traders is reached. Despite all that, the general trend can be depicted in this chart. Moreover, taking into account that BTC has lost more than 60% of his value in 2018, DGTX stands as the 3rd bigger gainer according to coinmarketcap. You can tell from the graph below that investors are excited about the approaching kickstart date.


Source: Coinmarketcap

DGTX token inflation projections


After January 2021, the next 12 months of the operational cost will be covered through the minting of new DGTX tokens. Here we can see a table with the expected effect of the inflation on the value of each DGTX token:


Source: Digitex white paper page 9
The worst case scenario guarantees that if only 1,000 new trader registers during the first 2 years and DGTX price remain stagnant, only 5% of inflation is required to maintain the operational costs for the next 12 months. The effect of 5% inflation over the 0.02% price is negligible. Also, if the best case scenario is met, only 2.3% of inflation will be required to sustain the platform and its effect on the project price will be only of 1 cent per DGTX token. If the project reaches this stage, securing 12 months of development and more marketing will attract thousands more of traders that will increase the demand for DGTX outweighing the inflationary cost of creating that demand. You can tell that their projections might have been too conservative, in September 2018 we got an announcement about their waitlist reaching 100K signups...no wonder why their CEO seems so happy.



Digitex hybrid trustless futures trade platform


Digitex have adopted a smart combination of the best features obtained with centralized matching engines and trustless, decentralized Smart Contracts to held account balances. In the wild future trading pits, each second matters, thus its mandatory to have a system with the smallest latency levels. Also, privacy is required to prevent frontrunners to exploit big orders. Many other desirable characteristics aren't yet available onto on-chain platforms and are only reached on centralized dedicated servers such as margin trading tools, scalability, and high privacy. Therefore, a hybrid model that covers current on-chain shortcomings and have none of the centralized ill-practicing is the smartest approach to leverage this new business model.

Digitex. The oracle for the account balance smart contract



Digitex acts as an Oracle that updates the decentralized Smart Contract that holds traders' account balances. When a trader requests a withdrawal of DGTX tokens, the Smart Contract requests an update to Digitex about the trader's profit and losses, as well as his current margin liabilities on his current matched and unmatched orders. Thus, the Smart Contract can update its available withdraw balance for that trader.

The potential attack vector from the communication of the exchange with the Smart Contract will be prevented by calculating from scratch traders' profit and loss from their matched trades whenever the smart contract asks for an update to a trader's account balance. Thus, a hacker who has somehow gained access to the exchange, will not be able to create the fake matched trades (which needs a counter-party and timestamps) and alter the account's balance of any trader.

How is this hybrid model more beneficial for traders activity


Digitex is unable to freeze or to seize any trader's fund for whatever reason. Pressure from outside authorities, KYC/AML regulators cannot enforce any legal action against the exchange since it actually can't reach trader's funds. Also, Digitex doesn't have access to the private keys of any trader, thus trader's funds cannot be accessed or mismanaged for the exchange.


Final Thoughts


Digitex benefits are of great significance for everyday traders, a commission-free platform will be a substantial improvement on the profit earned in many portfolios. Also, decentralized account balances and the centralized matching engine provides the best of the decentralized blockchain security and the centralized services reliability. The expected latency time for order matching is within the millisecond's scale, also, full privacy and no front-running is expected.

From the traders business perspective, Digitex single tick trading strategies are available for the first time within the crypto ecosystem, this parallel with the market makers will greatly boost market liquidity.

A Steemit blogger use case


From the starting date of the Steemit platform, some bloggers have earned $100K worth of crypto. They have been really excited about crypto for two years, and they think it is time to jump in the futures market. They search for traditional options like BitMEX, GDAX, CryptoFacilities, and some others, but they discourage themselves when they discover that the high volume low margin strategy they have been carefully studied for the last two years is unpracticable on the traditional platforms.

They are frustrated and return to read some posts on Steemit while scrolling the trending page they read about a new futures market platform on a post of the well-known @originalworks account, they read some of the best entries of the weekly contest and they can't stop the big smile that is printed on their faces. Right from the very same source of their first crypto assets, also they get the tool that will provide them the opportunity for testing all the knowledge gathered for the last 2 years. With Digitex they will enter the world of derivatives and start their venture as crypto traders.

Additional Information about the project


Here is Digitex Roadmap



Meet Digitex team



Watch the Digitex exchange on action with their CEO Adam Todd


https://youtu.be/qxqyspMiPGg

Are you excited with the project and want even more information? Visit their social media channels



Digitex Website
  • Digitex WhitePaper
  • Digitex Telegram
  • Digitex Reddit
  • Digitex Twitter
  • Digitex Blog
  • Digitex Youtube
  • Digitex Facebook




  • Hope you have enjoyed the reading. Keep in touch for more information about great crypto projects.
    Ethereum address: 0x0ebcB37223F07B1Bd0765E70f940046D504743a5 Steemit account: https://steemit.com/@joelsegovia

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

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    submitted by igoooor to BitcoinMarkets [link] [comments]

    Subreddit Stats: btc posts from 2017-10-03 to 2017-10-09 13:22 PDT

    Period: 6.50 days
    Submissions Comments
    Total 837 20193
    Rate (per day) 128.85 2692.43
    Unique Redditors 489 2132
    Combined Score 26601 69285

    Top Submitters' Top Submissions

    1. 1086 points, 17 submissions: increaseblocks
      1. Another all time low achieved - The Blockstream CSO just reported Coinbase to the NYDFS (on Twitter) claiming they are violating the Bitlicense (199 points, 91 comments)
      2. Craig Wright is NOT the face of or "CEO" Bitcoin Cash (181 points, 116 comments)
      3. Bitcoin Cash (BCH) Withdrawals now available on Gemini exchange (176 points, 39 comments)
      4. In just the month of September 2017 alone rBitcoin mods censored 5633 posts and comments! (115 points, 19 comments)
      5. Forget stealing data — these hackers broke into Amazon's cloud to mine bitcoin (91 points, 11 comments)
      6. Why Blockstream Is So Loudly Against Segwit2x (72 points, 52 comments)
      7. 10 reasons why Reddit admins should close down Bitcoin and not BTC (63 points, 62 comments)
      8. These are the real enemies of Bitcoin (43 points, 23 comments)
      9. Bitcoin Core developers along with Blockstream are destroying Bitcoin (36 points, 5 comments)
      10. Theory: Bitcoin Cash price is dropping as we get closer to SegWit2X hard fork. People are putting their money back into the SegWit1X chain for now so they can claim coins on both chains come November. (34 points, 43 comments)
    2. 970 points, 8 submissions: MemoryDealers
      1. Repost: "The notion of every #bitcoin user running their own node is as dumb as the notion of every email user running their own server.' (279 points, 233 comments)
      2. Just letting Bitcoin.org know that Bitcoin.com will list S2X as BTC (Just like 95% of the rest of the ecosystem will) (243 points, 146 comments)
      3. Censorship question (158 points, 164 comments)
      4. The newest Bitcoin CASH billboard is coming to Silicon Valley! ($1,000 in Bitcoin Cash giveaway contest) (90 points, 38 comments)
      5. Core supporter mentality: Why would anyone ever switch from Myspace to Facebook? Of course they won't, we are already #1 (73 points, 67 comments)
      6. Insights from "a professional capacity planner for one of the world’s busiest websites" on the block size issue. (59 points, 18 comments)
      7. South Korean Startups Are Preparing To Fight The Government's ICO Ban (48 points, 2 comments)
      8. Meanwhile in Japan: (20 points, 21 comments)
    3. 895 points, 7 submissions: poorbrokebastard
      1. Is segwit2x the REAL Banker takeover? (288 points, 400 comments)
      2. No supporter of Bitcoin Cash ever called it "Bcash." (207 points, 328 comments)
      3. The real upgrade happened on August 1st, 2017 (186 points, 206 comments)
      4. We are building a Big Blocker's Arsenal of Truth and we need your help! (143 points, 163 comments)
      5. Understanding the Implications of Restricting Capacity in a Peer to Peer Cash System. (53 points, 42 comments)
      6. Block space is a market-based, public good, NOT a centrally controlled, restricted commodity. (18 points, 48 comments)
      7. Crypt0 on youtube talks about the Segwit2x Banker Takeover (0 points, 3 comments)
    4. 866 points, 4 submissions: jessquit
      1. I think we need an EDA fix before the Nov hardfork (540 points, 352 comments)
      2. If you still think that SW2X is going to be a nice clean upgrade per the NYA you're smoking crack (136 points, 177 comments)
      3. Bitcoin Cash is the real Bitcoin, even if Segwit currently has greater market share due to its stronger shilling (104 points, 140 comments)
      4. "Firing Core" by running SW2X makes as much sense as firing the Linux kernel devs by running Ubuntu. (86 points, 69 comments)
    5. 785 points, 8 submissions: btcnewsupdates
      1. Overstock accepts Bitcoin Cash - BCH holders can now buy Home Goods, Bed & Bath Essentials, Jewellery & More! (586 points, 117 comments)
      2. Bitcoin Cash Gains More Infrastructure In the Midst of Segwit2x Drama - Bitcoin News (80 points, 35 comments)
      3. To commemorate its Bitcoin Cash addition, GMO has launched a cash-back campaign for bitcoin cash of up to 25,000 yen (40 points, 0 comments)
      4. India’s Koinex Exchange to Enable Bitcoin Cash Trading Soon (31 points, 13 comments)
      5. Unregulated Is Not Lawless - CFTC is investigating Coinbase’s Ethereum flash crash (23 points, 6 comments)
      6. SimpleFX, online Forex & Cryptocurrency broker recently introduced Bitcoin Cash as a deposit currency (22 points, 0 comments)
      7. Bitcoin Cash Popularity Allows ViaBTC Mining Pool to Surpass 1 Exahash (3 points, 0 comments)
      8. Trade Bitcoin Cash CFDs - The Rapidly Rising Crypto - plus500.co.uk‎ (0 points, 0 comments)
    6. 745 points, 18 submissions: cryptorebel
      1. Great analysis by singularity and jessquit on how anti-btc trolls shifted: "suddenly last year they all disappeared, and a new type of bitcoin user appeared who were fully in support of bitcoin but they just so happened to support every single thing Blockstream and its employees said and did." (102 points, 50 comments)
      2. Don't fall for EDA Dragons Den FUD. EDA is a powerful weapon that could kill off or cripple the segwit chain for good. Legacy coin has no EDA crash barrier as this article explains. This is why small blockers use FUD us to disarm the EDA (78 points, 118 comments)
      3. Roger Ver CEO of bitcoin.com says that from his point of view the segwit2x split just gives him more coins to sell for the Bitcoin Cash version which he thinks is the more useful Bitcoin @3min41s mark (71 points, 33 comments)
      4. Proof the new Dragons Den plan could be to try to split BCC with an EDA change. Mrhodl is confirmed Dragons Den, and Cobra Bitcoin is the leader of bitcoin.org which is making enemy lists for big block supporting businesses. (70 points, 47 comments)
      5. Right now segwit2x (BT2) is trading for $1143 and segwit1x (BT1) is $3070 on Bitfinex futures markets. Even with not the greatest terms, you would expect 2x to be much higher. I believe this bodes well for BCC. (61 points, 112 comments)
      6. The other day people were suggesting we do an EDA change before the November 2x fork. Here is why I think that is a terrible idea, and why we should only consider EDA change AFTER the 2x fork. (58 points, 40 comments)
      7. "Nick, Adam and others saw the flaw in the system being that they could not ensure one vote one person.. The flaw in that reasoning is assuming that one vote one person was ever a goal. Miners act economically not altruistically." (57 points, 14 comments)
      8. Original chain is now only 4.8% more profitable than Bitcoin Cash chain after the most recent EDA adjustment on BCC. Very normal blocktimes. Where is the EDA dragons den FUD now? (53 points, 33 comments)
      9. Great Explanation from Peter Rizun at 6min mark, on why Segregated Witness no longer fits the Definition of Bitcoin in the Whitepaper as a Chain of Signatures. (51 points, 19 comments)
      10. Right now segwit2x is $650 and segwit1x is $3906. Search for BT1 and BT2 on this page and you can see the futures prices. (51 points, 102 comments)
    7. 640 points, 3 submissions: BeijingBitcoins
      1. "Am I so out of touch?" (441 points, 163 comments)
      2. Bitcoin Cannot Be Only a Store of Value - excellent article by OpenBazaar dev Chris Pacia (189 points, 47 comments)
      3. Interesting research paper: Troops, Trolls and Troublemakers: A Global Inventory of Organized Social Media Manipulation (10 points, 2 comments)
    8. 622 points, 2 submissions: routefire
      1. "Everyone who supported UASF and now complains about S2X out of fear of confusion/lack of mandatory replay protection is a hypocrite. UASF did not have ANY replay protection, not even opt-in. UASF did not even have wipe-out protection!" (394 points, 133 comments)
      2. While /bitcoin was circle-jerking to the idea that no exchange would list the SW2x chain as BTC, Bitcoin Thailand's comment to the contrary was removed from the very same thread! (228 points, 70 comments)
    9. 510 points, 6 submissions: BitcoinIsTehFuture
      1. Bitfinex announcement about issuing BT1 & BT2 "Chain Split Tokens" to allow Futures trading. (BT1 = Segwit1x; BT2 = Segwit2x) (172 points, 173 comments)
      2. By proving that it can be done (getting rid of Core) this will set a HUUGE precedent and milestone that dev teams and even outright censorship cannot overtake Bitcoin. That will be an extremely bullish occasionfor all crypto. (149 points, 84 comments)
      3. Bitfinex is going to call Segwit2x coins "B2X" and let Core chain retain "BTC" ticker symbol. Bitfinex is therefore calling Segwit2x an altcoin and Core the "real chain". (138 points, 70 comments)
      4. The goal of all the forks appears to be to dilute investment in the true forks: Bitcoin Cash and Segwit2x. A sort of Scorched Earth approach by Blockstream. They are going to try to tear down Bitcoin as they get removed. (35 points, 11 comments)
      5. Blockstream be like (10 points, 11 comments)
      6. In light of all these upcoming forks, we need a site where you can put in a BTC address and it checks ALL the forks and says which chains still have a balance for that address. This way you can split your coins and send coins carefully. (6 points, 6 comments)
    10. 508 points, 3 submissions: xmrusher
      1. Can we take a moment to appreciate Jeff Garzik for how much bullshit he has to deal with while working to give BTC a long-needed upgrade that Core has been blocking for so long? (278 points, 193 comments)
      2. The very objective article "Bitcoin is not ruled by miners" on the "bitcoin wiki" was added by theymos on 8th of August this year. Nothing strange to see here, just an objective, encyclopedia-quality overview! (155 points, 58 comments)
      3. According to Crooked Greg, Jeff merging opt-in replay protection is "alarming", because it must mean Jeff wants to blacklist people's addresses too. Core devs keep lying and manipulating to stir more drama and further the split in the community. Disgusting! (75 points, 16 comments)
    11. 505 points, 4 submissions: WalterRothbard
      1. Sam Patterson on Twitter: Can anyone explain why miners and CEOs agreeing to a 2mb hard fork was no big deal with the HKA but is a "corporate takeover" with the NYA? (221 points, 85 comments)
      2. Apparently Bitcoin requires trust now - trusting Core. I didn't get that memo. I think I'll opt out. (169 points, 139 comments)
      3. Erik Voorhees on Twitter: Nothing about NYA was secret (106 points, 34 comments)
      4. How much BTC is in segwit addresses? (9 points, 25 comments)
    12. 480 points, 3 submissions: BitcoinXio
      1. Friendly reminder: if you haven't yet, watch this video which shows reddit is gamed and manipulated by professional shills paid by companies with huge million dollar budgets. It is up to our community to defend itself against these bad actors. (325 points, 99 comments)
      2. Blockchain CEO Peter Smith on Twitter: "We've dedicated our lives to building bitcoin products, introduced millions to bitcoin, evangelized, long before it was cool. Enemies?" (in response to Adam Back) (147 points, 47 comments)
      3. Liberty in North Korea: Reddit online community members join forces to assist in the placement of North Korea’s Hermit Kingdom refugees (8 points, 3 comments)
    13. 459 points, 4 submissions: singularity87
      1. The entire bitcoin economy is attacking bitcoin says bitcoin.org! You can't make this shit up. (435 points, 279 comments)
      2. Understanding Bitcoin - Incentives & The Power Dynamic (13 points, 1 comment)
      3. Understanding Bitcoin - What is 'Centralisation'? (9 points, 9 comments)
      4. Understanding Bitcoin - Validity is in the Eye of the Beholder (2 points, 25 comments)
    14. 434 points, 3 submissions: Gregory_Maxwell
      1. Wikipedia Admins: "[Gregory Maxwell of Blockstream Core] is a very dangerous individual" "has for some time been behaving very oddly and aggressively" (214 points, 79 comments)
      2. Gregory Maxwell: I didn't look to see how Bitcoin worked because I had already proven it (strong decentralized consensus) to be impossible. (122 points, 103 comments)
      3. LAST 1000 BLOCKS: Segwit2x-intent blocks: 922 (92.2%) (98 points, 99 comments)
    15. 419 points, 1 submission: Testwest78
      1. Making Gregory Maxwell a Bitcoin Core Committer Was a “Huge Mistake” Says Gavin Andresen (419 points, 231 comments)
    16. 412 points, 14 submissions: knight222
      1. Kudos to Theymos who wanted to clear things up... (311 points, 89 comments)
      2. COINFUCIUS on Twitter: We are working with the machine's manufacturer to incorporate Bitcoin Cash support. This is a priority for us. (76 points, 2 comments)
      3. Cash, credit ... or Bitcoin? St. John's gets 1st cybercurrency ATM - Newfoundland - Labrador (9 points, 1 comment)
      4. Banks like the potential of digital currencies but are cool on bitcoin, UBS says (3 points, 0 comments)
      5. The Feds Just Collected $48 Million from Seized Bitcoins (3 points, 1 comment)
      6. while Bitcoin users might get increasingly tyrannical about limiting the size of the chain so it's easy for lots of users and small devices. (3 points, 3 comments)
      7. ‘Fraud.’ ‘More than a fad.’ The words Wall Street CEOs are using to describe bitcoin (2 points, 0 comments)
      8. Bitcoin is creating stark divisions on Wall Street (1 point, 0 comments)
      9. Bitcoin: Bitcoin's rise happened in the shadows. Now banks want in (1 point, 0 comments)
      10. Japan’s Biggest Bank Plans to “Overcome” Bitcoin Volatility with 'MUFG Coin' (1 point, 0 comments)
    17. 406 points, 5 submissions: jonald_fyookball
      1. Normal, real twitter users don't add [UASF], [No2x] or any "causes" to their user handles. Obvious astroturfing is obvious. Do they really think they are fooling anyone? (175 points, 134 comments)
      2. Greg Maxwell (and others) may be engaging in the illegal harassment of Jeff Garzik. (92 points, 24 comments)
      3. Bitcoin Cash FAQ updated. Explains why Bitcoin Cash doesn't have SegWit and why it was not considered a capacity increase (87 points, 11 comments)
      4. Is it all a bait and switch campaign? (32 points, 14 comments)
      5. Possible EDA simulation algorithm sketch (20 points, 12 comments)
    18. 404 points, 3 submissions: Annapurna317
      1. Everyone should calm down. The upgrade to 2x has 95%+ miner support and will be as smooth as a hot knife through butter. Anyone that says otherwise is fear monguring or listening to bitcoin propaganda. (364 points, 292 comments)
      2. Notice: Redditor for 3-4 months accounts or accounts that do not have a history of Bitcoin posts are probably the same person or just a few people paid to manipulate discussion here. It's likely a paid astroturfing campaign. (38 points, 30 comments)
      3. The latest TED Radio Hour titled “Getting Organized” talks about the decentralized algorithms of ants and how centralization is not the most ideal state of an organization. (2 points, 0 comments)
    19. 385 points, 1 submission: squarepush3r
      1. Dangerous direction for /btc, possible jump the shark moment. Witch-hunting, paid troll and Dragon Den's accusation to justify censorship. (385 points, 201 comments)
    20. 381 points, 1 submission: hunk_quark
      1. Why is there so much debate on whether Bitcoin is store of value or digital currency? Satoshi's white paper was pretty clear it's a digital currency. (381 points, 182 comments)
    21. 369 points, 5 submissions: craftercrafter
      1. Gavin Andresen on Twitter: Early bitcoin devs luckily picked the right project at the right time. None are irreplaceable, bitcoin will succeed with or without us. (293 points, 57 comments)
      2. Antpool, BTC.TOP & Viabtc all said EDA is a temporary design for BCC. They are just waiting for the new algorithm. (34 points, 19 comments)
      3. SimpleFX, an Online Forex & Cryptocurrency Broker, Adds Bitcoin Cash Payments as well as Bitcoin Cash Trading Pairs! (27 points, 1 comment)
      4. BCC Miners, two EDAs have locked in. This will reduce mining difficulty to 64.00%. If you are aiming to achieve profit parity, you should start mining after the next EDA (in 2.5 hours), because then the difficulty will be at 51%, which gives profit parity on both chains and steady block rate. (9 points, 14 comments)
      5. Antpool, Viabtc, Bitcoin.com, BTC.com, we need to hear your voice. In the case of a scheduled hardfork for updating the EDA, will your pool follow? (6 points, 18 comments)
    22. 348 points, 6 submissions: specialenmity
      1. Fact: proof of work which is the foundation of bitcoin and not invented by Adam back was designed to counter attacks where one person falsely represents to be many(like spam). Subreddits and twitter dont form the foundation of bitcoin for a reason. (156 points, 27 comments)
      2. I'm a small blocker and I support the NYA (87 points, 46 comments)
      3. Devs find clever way to add replay protection that doesn't change transaction format which would break software compatibility and cause disruption. G. Max responds by saying that this blacklisting is a sign of things to come. (49 points, 57 comments)
      4. Five ways small blocks (AKA core1mb) hurt decentralization (36 points, 4 comments)
      5. Even if bitcoins only use to society was avoiding negative interest rates, bail-ins + bail-outs, that is incredibly useful to society. Of course a banker like Jamie Dimon would call something a fraud that removes a "bank tax" on society by allowing them to avoid these fraudulent charges. (18 points, 0 comments)
      6. There are different kinds of censorship. The core propagandists are unwittingly great advocates of economic censorship (2 points, 1 comment)
    23. 286 points, 2 submissions: coincrazyy
      1. Rick Falkvinge on Twitter - "Blockstream's modus operandi is not particularly hard to copy. It's just so cheap and shortsighted." -Gets 5000 ReTweets and 5000 likes in 30 mins. TO PROVE A POINT. ASTROTURFING DOES NOT MEAN CONSENSUS (164 points, 15 comments)
      2. Segwit was invented by "cypherpunks" THAT FAILED TO CREATE A VIABLE DIGITAL CURRENCY. Bitcoin was created by a cypherpunk that SUCCEEDED. (122 points, 118 comments)
    24. 257 points, 2 submissions: olivierjanss
      1. Why Bitfinex’s “Chain Split Tokens” are completely biased towards the small block side (again) (205 points, 165 comments)
      2. Reminder of what took place behind closed doors in 2016, revealing Blockstream & Core's quest for domination & lies. (52 points, 3 comments)
    25. 254 points, 9 submissions: SeppDepp2
      1. #SegWit2x is an upgrade to BTC and will use the BTC ticker. (103 points, 59 comments)
      2. Core rage quitting Swiss Bitcoin Association ? - Due to a CSW free speech ? - OMG - grow up little prejudges! (76 points, 141 comments)
      3. "Venezuela could soon decide to adopt the Bitcoin as its new currency" - Hope they'll use Satoshi's Bitcoin Cash - They cannot afford high fees like most No2X / NoCash puppets! (36 points, 6 comments)
      4. A short logical layman proof definition of Bitcoin: Look up, what Bitcoin really is: 1) Whitepaper 2) First code version Bitcoin is Bitcoin Cash and includes e.g. the witness. Segwit - Bitcoin is an alternative to this (ALT). (17 points, 3 comments)
      5. Core gets hyperallergic about a free speach of CSW in neutral Switzerland (6 points, 35 comments)
      6. Different Bitcoins: Value proposition, trust, reputation - confidence (6 points, 0 comments)
      7. Four Different November Scenarios (6 points, 24 comments)
      8. Swiss biggest FinTech launches BITCOIN Tracker (valid up to 2020) (2 points, 1 comment)
      9. Watch out for this kind of pattern! If it comes to such a segregation of good old members into good and enemy its gonna be dirty! (2 points, 0 comments)
    26. 230 points, 2 submissions: williaminlondon
      1. PSA: latest rbitcoin post "It's time to label (and remove from reddit.com) what is plainly obvious: btc is a monetized subreddit for bitcoin.com." (126 points, 57 comments)
      2. Did anyone notice how angry Blockstream / Core people are whenever good news are posted here? (104 points, 108 comments)
    27. 227 points, 1 submission: dskloet
      1. All the #no2x bullshit is the fault of the people who agreed to activeate SegWit before 2x. (227 points, 199 comments)
    28. 226 points, 5 submissions: opling
      1. Japan's Largest Bitcoin Exchange Bitflyer Launches Bitcoin Visa Prepaid Card (112 points, 1 comment)
      2. Large Japanese Energy Supplier Adds Bitcoin Payments With a Discount (44 points, 4 comments)
      3. Bitcoin ATMs On the Rise in Russia (40 points, 2 comments)
      4. Russia's Central Bank Instructs Clearinghouse Not to Settle Cryptocurrency Contracts (18 points, 1 comment)
      5. Government Head of IT Department Fired for Mining Bitcoin Using State-Owned Computers in Crimea (12 points, 2 comments)
    29. 222 points, 2 submissions: GrumpyAnarchist
      1. Xapo just sold off another 70,000 BCH today, that might explain the price. They're down to 176K in their main wallet now. (166 points, 132 comments)
      2. Roger, can you make Bitcoin Cash an option, with maybe a link to info, in the original wallet setup phase for the Bitcoin.com wallet? (56 points, 28 comments)
    30. 216 points, 7 submissions: uMCCCS
      1. TIL a BS employee, Chris Decker, and some other people released a study that says "4 MB blocks don't cause centralization" (128 points, 19 comments)
      2. Without ASICs, there would be large botnets that are more centralized (44 points, 43 comments)
      3. Bitcoin-ML Bucketed UTXO Commitment (a.k.a. Blockchain pruning!) (27 points, 6 comments)
      4. Bitcoin Cash is Satoshi's BitCoin, not altered Bitcoin (10 points, 10 comments)
      5. TIL BashCo has a website "2x Countdown" (5 points, 1 comment)
      6. How true is rBTC censorship? (2 points, 7 comments)
      7. If S1X lives and Core Never HardForks, BTC will die in year 2038 (0 points, 7 comments)

    Top Commenters

    1. williaminlondon (3150 points, 739 comments)
    2. poorbrokebastard (2114 points, 518 comments)
    3. cryptorebel (1768 points, 257 comments)
    4. space58 (1313 points, 201 comments)
    5. Adrian-X (1109 points, 235 comments)
    6. knight222 (1037 points, 157 comments)
    7. bitcoincashuser (946 points, 188 comments)
    8. jessquit (901 points, 150 comments)
    9. ---Ed--- (758 points, 185 comments)
    10. LovelyDay (742 points, 125 comments)
    11. jonald_fyookball (720 points, 106 comments)
    12. Not_Pictured (701 points, 111 comments)
    13. awemany (675 points, 173 comments)
    14. BitcoinXio (611 points, 41 comments)
    15. Gregory_Maxwell (609 points, 90 comments)
    16. singularity87 (608 points, 44 comments)
    17. 2dsxc (587 points, 79 comments)
    18. BitcoinIsTehFuture (567 points, 79 comments)
    19. BTCrob (534 points, 214 comments)
    20. H0dl (531 points, 79 comments)
    21. dskloet (517 points, 94 comments)
    22. Ant-n (509 points, 132 comments)
    23. nullc (497 points, 66 comments)
    24. tippr (483 points, 284 comments)
    25. todu (476 points, 63 comments)
    26. GrumpyAnarchist (472 points, 127 comments)
    27. tophernator (462 points, 78 comments)
    28. livecatbounce (456 points, 61 comments)
    29. kenman345 (453 points, 49 comments)
    30. cryptonaut420 (403 points, 50 comments)

    Top Submissions

    1. Overstock accepts Bitcoin Cash - BCH holders can now buy Home Goods, Bed & Bath Essentials, Jewellery & More! by btcnewsupdates (586 points, 117 comments)
    2. I think we need an EDA fix before the Nov hardfork by jessquit (540 points, 352 comments)
    3. "Am I so out of touch?" by BeijingBitcoins (441 points, 163 comments)
    4. The entire bitcoin economy is attacking bitcoin says bitcoin.org! You can't make this shit up. by singularity87 (435 points, 279 comments)
    5. Making Gregory Maxwell a Bitcoin Core Committer Was a “Huge Mistake” Says Gavin Andresen by Testwest78 (419 points, 231 comments)
    6. "Everyone who supported UASF and now complains about S2X out of fear of confusion/lack of mandatory replay protection is a hypocrite. UASF did not have ANY replay protection, not even opt-in. UASF did not even have wipe-out protection!" by routefire (394 points, 133 comments)
    7. Dangerous direction for /btc, possible jump the shark moment. Witch-hunting, paid troll and Dragon Den's accusation to justify censorship. by squarepush3r (385 points, 201 comments)
    8. Why is there so much debate on whether Bitcoin is store of value or digital currency? Satoshi's white paper was pretty clear it's a digital currency. by hunk_quark (381 points, 182 comments)
    9. Everyone should calm down. The upgrade to 2x has 95%+ miner support and will be as smooth as a hot knife through butter. Anyone that says otherwise is fear monguring or listening to bitcoin propaganda. by Annapurna317 (364 points, 292 comments)
    10. Friendly reminder: if you haven't yet, watch this video which shows reddit is gamed and manipulated by professional shills paid by companies with huge million dollar budgets. It is up to our community to defend itself against these bad actors. by BitcoinXio (325 points, 99 comments)

    Top Comments

    1. 194 points: cryptorebel's comment in Dangerous direction for /btc, possible jump the shark moment. Witch-hunting, paid troll and Dragon Den's accusation to justify censorship.
    2. 167 points: EH74JP's comment in The entire bitcoin economy is attacking bitcoin says bitcoin.org! You can't make this shit up.
    3. 158 points: BobWalsch's comment in I think we need an EDA fix before the Nov hardfork
    4. 157 points: BitcoinXio's comment in Dangerous direction for /btc, possible jump the shark moment. Witch-hunting, paid troll and Dragon Den's accusation to justify censorship.
    5. 149 points: MemoryDealers's comment in All the #no2x bullshit is the fault of the people who agreed to activeate SegWit before 2x.
    6. 116 points: Testwest78's comment in Making Gregory Maxwell a Bitcoin Core Committer Was a “Huge Mistake” Says Gavin Andresen
    7. 115 points: 2dsxc's comment in I think we need an EDA fix before the Nov hardfork
    8. 106 points: Piper67's comment in jgarzik please do not add replay protection
    9. 106 points: singularity87's comment in The entire bitcoin economy is attacking bitcoin says bitcoin.org! You can't make this shit up.
    10. 99 points: zowki's comment in Bitcoin.com Pool stabilized the Bitcoin Cash blockchain (prevented excessive EDAs)
    Generated with BBoe's Subreddit Stats (Donate)
    submitted by subreddit_stats to subreddit_stats [link] [comments]

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