#1 Bitcoin Halving 2024 Countdown & Date ETA (BTC Clock)

10 things I wish someone had told me when I was learning to trade crypto

While I consider myself an amateur trader and a small-scale investor, over the 2+ years of trading crypto I've learned some things I'd like to share with you all, but mostly with those who are making their first steps into the uncharted cryptoland.
  1. Just as with anything else in life, trading cryptocurrencies is context dependent. That means you should remain a healthy sceptic about general truths, universal rules and things that "everyone knows". Consider the famous "buy low sell high" dictum. The definition of high and low is subjective in most cases since it depends on your timescale, goals and trading strategy. If you’re a hodler, as are many of the fellow redditors here, your high and low will differ dramatically compared to the day trader's.
  2. It is for the same reason that bulls and bears don't really matter. Whether you're 'bullish' or 'bearish' depends on your strategy and timescale. Consider this: to someone hodling BTC since 2013 a dip here or there (even a prolonged one) makes little difference because the price of BTC over the time continues to grow monstrously – you can call it one long-term bull market.
  3. At some point, you'll bump (or you already have) into something that is called 'technical analysis'. Let me save you some time (and money, probably) by telling you this: technical analysis is neither technical, nor is it very analytical. While many traders regard TA to be a scientific way (supposedly based on mathematics) to read and predict the market moves, TA has little to do with any formal science. Differently from the surrounding physical world, we are not aware of any physical laws that govern our human behavior, including markets. If it was possible to mathematically calculate and with certainty predict market moves, the big buck guys in Wall Street would have already done it. Think about the major financial crises for a moment – just like the Spanish Inquisition, nobody (well, almost nobody) ever expected one. Does it mean TA – trends, chart patterns, MACD, RSI, Elliot wave count, etc. – is a complete rubbish? I wouldn't go as far as to claim that. It is somewhat helpful – if only a little, TA still gives you a feel of the current market mood. TA also does one other thing pretty accurately: it graphically represents historic data of human behavior in the financial markets. Surely you can benefit from that? Or do you? This brings me to another point...
  4. Beware of historical analogies and 'I knew it all along' thing. As humans, we are prone to hindsight bias, a tendency, after an event has occurred, to see it as having been easily predictable. We are all blinded by hindsight bias because our brain looks for simplistic linear link between cause and effect. This way when an unexpected event happens, the brain uses the knew-it-all-along mode to cope with cognitive dissonance and make sense of the surrounding world. While trading hindsight bias harms you in two ways: a) it drains you psychologically for not making 'the right' decisions in the past, and by luring you into oversimplified historic analogies, b) it creates a false sense of investment security at the present time. Just look at everyone complaining they've sold their BTC at the worst possible time (as a matter of fact, I am no different – I still autodestructively loathe my decision to liquidate a large portion of my BTC portfolio after the BTC price hiked to 8k). It is also very tempting to think you wouldn't miss 'the next bitcoin'. The problem is, though, that it is incredibly difficult if at all possible to spot such an opportunity. You have to be either lucky or extremely well informed (and lucky) to capitalize early on such opportunity. In reality, it's very difficult to differentiate between useless information (noise) and something that truly matters (signal). Which brings me yet to another point...
  5. Stop being a news junkie and start filtering what you read/heasee. If you don't, at some point in time the quantity of consumed news will start to impact your decisions and it will begin to negatively correlate with the net gain of your investment portfolio. Instead of reading news nonstop, better educate yourself – dive deep into the market fundamentals and the technology you're dealing with. This way it will be easier for you to spot new lucrative investment opportunities when the time comes.
  6. Accept the fact that idiots also happen to make lots of money and move on. Multiple times too, if they're lucky ones. However, the net worth of (lucky) idiot doesn't mean you should imitate him and become one. Some two months ago a Dutch father of two young children sold his family's house, bought BTC and other cryptocurrencies, and relocated his family to a rented property. After the recent spike in BTC price the guy's net worth must have increased substantially. So, is he an idiot? Absolutely! It is only a question of time before he ruins his own and his family's life with some incredibly reckless financial decision.
  7. Try to understand the motives governing your decisions and act (or don't act) accordingly. If your actions are about to be driven by extreme emotions such as fear, panic or excitement – stop immediately and reevaluate the situation. Otherwise you'll end up belonging to the FOMO buyepanic seller club aka the money losers. If you want to stay on the earning side long term, you must keep your head cool and think clearly.
  8. Day trading is probably not for you. Consider this: evidence in neuroscience research shows that we are a loss-averse species. For this we should thank our stone age ancestors who had barely enough food, shelter and belongings to survive in a very adverse world. Losing even a little of what they had meant their existence was in jeopardy. This explains why contemporary humans prefer avoiding financial loss to making financial gain. Neuroscientists claim that losing money activates the same area of the brain that responds to mortal danger. This is why in order to do day trading you must have A LOT of self-control and balls of steel – there are many ups and downs during a single day. It drains you emotionally, you end up being addicted to adrenaline, your fiancée hates it, and the hodlers will probably outperform you in the long run anyway.
  9. Volatility is your friend. Over time BTC volatility makes the coin stronger, not weaker. While wild swings in price makes BTC almost impossible to use as a currency, volatility is good from the financial asset point of view. Traders and investors dealing with BTC get used to huge and sudden price hikes and dips. Unlike for any 'stable' stock of any prominent multinational corporation, even substantial and unexpected shocks will not undermine the confidence in BTC. BTW, best of luck to everyone planning to short BTC. :)
  10. Make small mistakes, learn from them, get wiser, err less. In your childhood days, you needed the experience of burning your hand with fire so that for the rest of your life you wouldn't need to think about the painful experience. That information is now hardwired in your brain and helps you to avoid getting harmed. If you've just started trading crypto, expect to make mistakes and prepare to learn from them. It's only after you get into FOMO, get panicked big time, take too big a risk, get out too early only to jump in at the worst possible time, ONLY and ONLY then you'll start to improve.
The Road to Wisdom
The road to wisdom? —Well, it's plain and simple to express: Err and err and err again, but less and less and less. — Piet Hein
Hope that was helpful.
submitted by ItsGentle to Bitcoin [link] [comments]

Bitcoin ABC's "parked blocks" feature allows minority hashrate attackers to cause a permanent chain split with high probability.

BACKGROUND
------------------------------------------------------
In November, Bitcoin ABC introduced "auto-finalization" and "parked blocks" functionality in order to mitigate the risk of 51% attacks.
Roughly, the way auto-finalization works is that after receiving a new block, a node will look back ten blocks prior and mark that previous block as finalized, which means that the node will not reorg past that point without manual intervention. This prevents attackers from double spending with large reorgs, and thus provides some protection for exchanges and the like.
The parked blocks functionality is intended to prevent against medium-length reorgs by adding a proof of work penalty. Specifically, a 4+ block reorg requires double the PoW; a 1 or 2 block reorg requires an extra 1/2 blocks' worth of PoW, and a 3 block reorg requires an extra blocks' worth of PoW. These are approximations, because of BCH's DAA which changes each block, but you can find this implemented in FindMostWorkChain() in validation.cpp.
When these changes were added, there was some discussion on btc about how auto-finalization could lead to chain splits because an attacker could mine a 10 block secret chain and broadcast it right at the perfect time that the honest network has broadcast its 10th block from the fork point; however, this is a difficult attack to pull off, and the parked blocks functionality actually makes it such that the attacker would need to mine more like 20 blocks secretly (approximately, because of the DAA), which makes it nearly impossible.
However, I did not see significant discussion regarding the implications of the parked block functionality itself, and the negative way in which it interacts with auto-finalization. Here is my attempt to rectify that, by presenting an attack that could cause chain splits with moderate probability even for attackers with minority hash rate.

ATTACK:
----------------------------------------------------
1) Somehow force a soft-split with the parked chain.
2) Make sure that the soft split continues until both sides finalize a block on their side of the split (possibly via balancing hashpower on both sides of the soft split).
More specifically:
1) Mine 3 blocks before the honest network mines three blocks, and broadcast block 3 when you detect honest block 3 has been broadcast.
2) Mine such that the difficulty/work condition is fulfilled (see step 2 below regarding lowering the difficulty): block1 + 1/2*priv2 + 1/2*pub2 > pub4 + priv4. If this condition isn't met, the attacker can just try to win the split from the next step and get 3-4 block rewards
3) Ensure that each side of the soft split mines block 4 before the other side mines block 5, moving into the double-PoW penalty phase. This may require withholding blocks temporarily if "too far ahead", such that there is a 3vs3 split. Since this could happen, it improves our probability of success compared to the calculations below.
4) Mine at the tip of whichever chain is behind, such that neither side reorgs before finalizing a block on their side of the split. That is, each side must mine 7 blocks w/o being reorg'd. (Must mine 1 before the other mines 4, or 2 before 8, etc.)
--Analysis is for step 4 is complicated and thus omitted below, but this is likely to succeed, and extremely likely to succeed if the network is split close to evenly or if the attacker has substantial hash power.

Analysis:
----------------------------------------------------------
Let x = attacker hash rate; y = main chain hash rate after soft split; z = alt/"attack" chain hash rate after soft split.
-----STEP 1-------------
--Start by assuming the attacker has just mined a block and keeps it secret; then they must win 2 blocks before the honest chain wins 3
--There are 6 possible ways to win: AA, AHA, HAA, AHHA, HHAA, HAHA (A = attacker block; H = honest block.)
Pr[success] = x^2 + 2*x^2*(1-x) + 3*x^2*(1-x)^2
x = 1/20 1.4%
x = 1/10 5.23%
x = 1/4 26.17%
x = 1/3 40.74%
x = 1/2 68.75%
x = 3/5 82.08%
------STEP 2---------------
Ideally, the 4th block for both chains will be of the proper difficulty that would prevent either chain from being reorged by seeing that 4th block, in which case the soft split should persist. This occurs if the following conditions are met:
1) In order to prevent the 4th honest block from reorging our 3 private blocks, we need: privChainWork + 1/2*(privBlock1work + privBlock2work) > mainChainWork
2) In order to prevent the 4th attack block from reorging the 3 public blocks, we need: mainChainWork + 1/2*(pubBlock1work + pubBlock2work) > privChainWork
Note that pubBlock1work == privBlock1work in all cases. Some algebra:
Condition 1 priv1 + priv2 + priv3 + 1/2*priv1 + 1/2*priv2 > pub1 + pub2 + pub3 + pub4
Condition 2 pub1 + pub2 + pub3 + 1/2*pub1 + 1/2*pub2 > priv1 + priv2 + priv3 + priv4
priv1 + priv2 + priv3 > pub1 + pub2 + pub3 + pub4 - (1/2*priv1 + 1/2*priv2)
pub1 + pub2 + pub3 > priv1 + priv2 + priv3 + priv4 - (1/2*pub1 + 1/2*pub2)
pub1 + pub2 + pub3 > pub1 + pub2 + pub3 + pub4 - (1/2*priv1 + 1/2*priv2) + priv4 - (1/2*pub1 + 1/2*pub2)
0 > pub4 + priv4 - (1/2*priv1 + 1/2*priv2) - (1/2*pub1 + 1/2*pub2)
(1/2*priv1 + 1/2*priv2) + (1/2*pub1 + 1/2*pub2) > pub4 + priv4
block1 + 1/2*priv2 + 1/2*pub2 > pub4 + priv4
This is extremely likely if the difficulty is decreasing, which can happen on the private chain by mining blocks with future timestamps, and is likely on the main chain as well, since it will have less hashpower than before the fork point.
------STEP 3------------------------
--What is the probability that both chains mine block 4 before the other mines block 5?
--Assume both chains have 3 blocks already and the attacker has no secret blocks. If the attacker successfully mined block 4 already, our chances would be higher, so this is an underestimate.
--The chance of success depends on how much hash is on each side, which we don't know. Here we analyze two possibilities:
1) y = z (attacker's best case);
2) y = 3z (1/4 of the honest hash is on one side, 3/4 on the other)
--For case 1, assume the miner simply shuts off until one side wins a block, and then immediately mines the other side. They could also pick a side to start with, but we ignore that possibility. For case 2, we assume the attacker mines on the minority chain until a block is mined, and switches if the minority chain wins the first block.
Case 1:
Pr[success] = x + z = x + y
x = 1/20 52.5%
x = 1/10 55%
x = 1/4 62.5%
x = 1/3 66.67%
x = 1/2 75%
x = 3/5 80%
Case 2:
Pr[success] = (x+z)*(x+y) + y*(x+z) = x^2 + 2xy + 2yz + xz
x = 1/20 42.41%
x = 1/10 47.13%
x = 1/4 60.16%
x = 1/3 66.67%%
x = 1/2 78.13%
x = 3/5 84%
-----END STEP 3---------------------


EXAMPLE: Attacker has x fraction of the hash rate, and if he successfully finishes step 1, we assume that the difficulty works out in step 2 about half the time (probably a significant underestimate). Assume that each step is independent (not true, and causes an underestimate of success probability). Assume that the soft split that results splits the hash power 3 to 1, as in case 2 above. What is the probability of getting to the final step of the attack? How many initial blocks can the attacker expect to throw out before succeeding, and how long should this take given their hash rate?
x = 1/20 0.3% 334 blocks thrown out, 6680 blocks total, 46.4 days
x = 1/10 1.23% 82 blocks thrown out, 820 blocks total, 5.7 days
x = 1/4 7.87% 13 blocks thrown out, 52 blocks total, 8.7 hours
x = 1/3 13.58% 8 blocks thrown out, 24 blocks total, 4 hours
x = 1/2 26.86% 4 blocks thrown out, 8 blocks total, 1.3 hours
x = 3/5 34.47% 3 blocks thrown out, 5 blocks total, < 1 hour

DISCUSSION
-------------------------------------------
There are tradeoffs between protecting against chain-split attacks and protecting against deep reorgs, and a chain like that of BCH, with minority SHA-256 hashrate, must tread carefully. However, I think I have demonstrated here that there isn't a tradeoff when you have both parked blocks AND auto-finalization - the security assumption of "everything is fine if majority hashrate is honest" is no longer true, because a 33% attacker can cause a far worse outcome than a deep reorg.
That said, unlike with 51% attacks, this particular attack is one that isn't as likely to be profitable for the attacker financially, so it may not be exploited by random Internet bad guys. Also, it would require some more complicated software and is less likely to succeed without some amount of network intelligence, like knowing which nodes are miners or exchanges to target. However, it CAN still be profitable in a number of ways: shorting BCH, low-conf double spends, and/or the possible selfish mining profits that could accrue from a failure at some step of this strategy.
Timejacking may be useful to smooth over some of the parts of the attack by making sure that a timejacked node will view a block as valid/invalid when the rest of the network doesn't, via timestamp manipulation. This can buy the attacker a little bit of time, and "shape" the network such that he knows which side of the split his targets may be on. Furthermore, if the attacker fails to split the network somewhat evenly, then he can ignore the minority side of the fork and immediately start trying again on the majority side, in an attempt to cause a 3-way split.
Finally, while you may believe that this attack is improbable, the prevailing wisdom of this sub is that a super powerful cabal of bankers will stop at nothing to destroy Bitcoin Cash (operating via their alleged proxy, Blockstream), and since a well-resourced attacker should be able to pull this attack off, I believe y'all should be more concerned than you have been. My recommendation is to remove the parked block functionality from ABC entirely, and accept the risk of medium-length reorgs.
submitted by iwantfreebitcoin to btc [link] [comments]

Are cryptocurrencies a sign of the beast?

I started to dig this one after reading nickhintonn333 post and after i saw this video... and everything seems to be perfectly arranged. It really makes sense...and this is very unsettling. Will anyone more familiar with the topic help me connect all the dots?
Bitcoin is the final evolution of money into a purely cashless, digital form. Combined with biometrics, it creates the necessary technological infrastructure for a one world cashless ID, otherwise known as the mark of the beast, which AI will use for complete economic surveillance and control over the human race.
Bitcoin is a technological breakthrough formed by combining a series of other technological developments, namely decentralized, distributed computing and mathematical encryption into a verifiable chain of permanently recorded transactions called the blockchain.
This technology represents the latest evolution of money, moving us further up the pyramid toward the all-seeing, omniscient authority (printed on the back of every dollar bill) that will eventually reign over the earth: AI. Link to the whole article
I wrote down my most troubling findings
10 years ago Satoshi Nakamoto created BitCoin. He also implemented the first blockchain. He never disclosed any personal information. A lot of theories arose, one of them is that bitcoin was created by the four largest technology concerns in Japan : SAmsung, TOSHIB, NAKAmichi, MOTOrola.

Revelation 13:16-18
Also it causes all, both small and great, both rich and poor, both free and slave, to be marked on the right hand or the forehead, so that no one can buy or sell unless he has the mark, that is, the name of the beast or the number of its name. This calls for wisdom: let the one who has understanding calculate the number of the beast, for it is the number of a man, and his number is 666.
Bitcoin is part of the beast system .www=666
is it a coincidence that 666 is hidden in every barcode? And even in the element from which everything is made - Carbon? And .www mean 666 in Hebrew?
Craig Wright Claims to Have Filed 666 Blockchain Patents
Last month, Nchain filed patent application number 666 — That’s right — the number of the Beast, Satan himself.
And this article from the site bitcoin.com, which was supposed to discredit one world currency theory but unfortunately the only argument is that "it is highly unlikely that bitcoin can be the mark of the beast"
I also found this on tradingview.com 666 price levels

Mark Zuckerberg invested 3 billion to research medical chips that would be implanted in children to monitor health from a young age. Link to the article. Ironically "Mark" Zuckerberg has a dog named Beast. (He is also creating his own cryptocurrency called Libra)
Ex-Google executive Anthony Levandowski is founding a church where people worship an artificial intelligence god Link to the article.

I apologize for a bit of a chaotic post but I need a little help to sort everything out.
submitted by nejviblue to PastSaturnsRings [link] [comments]

The Antminer s9 is already obsolete.

Using the Wisdom Bitcoin difficulty calculator, I put in the specs of 1 s9, and assumed the us average of .10 cents per kilowatt hour, and 2% slushpool fee. On even optimistic assumptions, it shows that by Feb. 2018, you are already will be loosing money.
I've attached screenshots here, if you don't want to do the math yourself.
https://imgur.com/a/80GID
On the second screenshot, we see that assuming even zero electricity cost, and zero startup cost, that by Jan or Feb 2018, your S9 will only be making 80$ a month or less.
Lets assume you buy 1 s9 and set it up for 1300$ (0.24BTC) (extremely optimistic), and then run it somewhere with free electricity. IT WILL NEVER MAKE YOU BACK YOUR ROI. You can see from the chart it maxes out at 0.203, that is all you will ever make. Even if bitcoin price rises and you covered your ROI, you would have made twice as much just holding 1300$ in BTC to begin with.
Because of this, I dont understand how all batches of s9's are sold out at bitmains website. I know people who just bought 5 of them in the last order.
What is their reasoning? How do you think this is viable? I would love to be proved wrong.
submitted by senile_robot to BitcoinMining [link] [comments]

Rules, Disclaimer and FAQ. PLEASE READ THIS FIRST

This post outlines the rules of /Cindicator and provides answers to the most common questions. We'd like to ask the community to participate in FAQs suggestions (you can add your comments below). Also check sidebar for links to our Medium, Facebook, Twitter, Telegram etc.
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FAQ
What is Cindicator?
Cindicator is a fintech company that creates the social and technological infrastructure needed to make effective decisions under volatile conditions of the new economy. By combining a large number of diverse financial analysts and a set of machine-learning models into a single system, we are developing a Hybrid Intelligence infrastructure for the efficient management of investors' capital in traditional financial and crypto-markets.
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What does Cindicator stand for?
Crowd Indicator: we refer to the famous “Wisdom of the crowds” concept. In a nutshell: it means that group of people is more likely to provide right answer than an individual. Hence, crowd indicator - an indicator of collective intelligence.
Are there any Cindicator products already completed?
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Shares of Twitter, Inc. (TWTR) fell 5.87% and closed at 30.81 USD on Thursday, September 6 a day after testimony before the Senate Intelligence Committee. Will Twitter stock manage to recover and trade above 32.7 USD by September 27?
The cryptocurrency Bitcoin settled at $6753.3 at 10:30 AM UTC at Bitfinex exchange on Sunday, September 23. What will be the maximum and the minimum price of BTC/USD from 12:01 AM UTC on Monday, September 24 until 11:59 PM UTC on Sunday, September 30?
Apple Inc. (AAPL) is scheduled to reveal its Q4 earnings on Thursday, November 1 after the market close. In your opinion, will Apple Inc. report earnings per share (EPS) above current Wall Street consensus of $2.77?
Bitcoin crypto market share settled at 54.46% at 07:30 AM UTC on Monday, October 15. In your opinion, will Bitcoin's market share climb above 57.2% (+5%) at any time before November 14?
And much more - visit the app to check all questions!
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If we were asked to describe the product in one sentence, we would say: Cindicator combines the data from our analysts’ forecasts, processes it through several layers of ML algorithms, and delivers notifications with indicators via Telegram bot.
For now we’re offering Cindicator’s users 9 types of indicators, most of them tackling both crypto- and traditional financial markets analysis. You can find levels of access and description of indicators on website and in this post. We’ve been carrying out back and forward testing of the indicators for quite some time already - you can find this information here https://goo.gl/aYf6ph.
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The Cryptometer Bot 2.0 measures prices across multiple exchanges to anticipate and detect early signs of cryptocurrency market volatility and provides you with real-time price movements on your selected crypto assets. It is helping traders find the right arbitrage opportunity and profit in everyday trading in a simple way.
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Token Sale Review is an exclusive analytical product that helps you identify the token sales that are the most sustainable and the most promising in the long run. A stop list tracks scams and projects with excessive risks. Access to this product is strictly limited and by application only.
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Cindicator Bot
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Beginner - 8k CND/month
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What is the problem Cindicator is solving?
The main problem in current financial analytics is centralisation. This is because analysts cluster their forecasts and opinions in open access and these opinions impact upon the opinions of other analysts.
Decentralization is one of the many necessary characteristics we are working on in the context of the wisdom of the crowd. Figuratively speaking, the suggestion of each unique person contains two types of information: useful signal and unique chaotic noise. Cindicator cuts through this centralization bias by aggregating opinion from a wide range of diverse forecasters from different countries with different professional backgrounds, with different personal experience. After we combine lots of such different suggestions, we have useful signal amplification, and noises mutually cancel each other as they are quite unique and random. When people don’t discuss the problem before making a suggestion they are unlikely to include alien biases into suggestions and keep the uniqueness of their subjectivity – their personal noise, so the sum of noises will go to zero and the signal becomes accurate.
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What the name of the token? Can I mine Cindicator tokens?
The token is also called Cindicator (CND). Unlike proof-of-work blockchains such as Bitcoin, there is no mining in Cindicator.
What are Cindicator tokens? Cindicator tokens are ERC-20 compatible tokens distributed on the Ethereum blockchain pursuant to a related ERC-20 smart contract (the “CND Tokens”).
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If your indicators are so valuable, why wouldn’t you use them only for yourself for trading?
The answer is that simple: we are a technological company and specialise in the Hybrid Intelligence technologies. We create infrastructure and products based on it, and those products, infrastructure and data they yield can be used by hedge-funds or other companies with financial expertise. This way it’s a mutually beneficial business. We don't want to try entering completely different field of the big finance. In other words, the same question can be addressed to the Bloomberg, for example. To be exactly accurate - we do use our indicators for our own good - but this is a very small part of Cindicator business model.
Which products can I access as a Token holder?
By buying tokens, CND token holders will get exclusive access to part of the Hybrid Intelligence infrastructure being developed. Holders of CND infrastructure tokens will receive a different level of access to Cindicator’s indicators, ratings, and internal analytical products. Token holders will be able to access the following parts of the infrastructure: indicators of traditional markets and crypto-markets (the probability of the rise or fall of asset prices, the probability of beating consensus in corporate and macroeconomic events, indicators certain price levels being reached, indicators of the probability of significant events influencing the market); auxiliary service products for trading (Telegram bots, notifiers, and portfolio monitoring products); analytical products (ICO ratings, market condition analysis, ICO due diligence, and investor portfolio analysis); market indices and sentiments generated by Hybrid Intelligence (in development).
Will your indicators still provide value if many people can gain access to them?
The fact that token holders can use data from the analytical infrastructure products will not affect the value of the data received from Hybrid Intelligence, since each indicator or index is not an unambiguous trading signal, but only an additional metric in the market that helps analyse an investment decision. These data and analytical products will assist token holders and make the ecosystem transparent. A part of the infrastructure intended to be directly used in capital management (by traders' teams, machine-learning models, and trading strategies) will remain in the centralized part of the system. This is necessary in order to make sure that Hybrid Intelligence can be used most efficiently on the next stage, when interested funds will be provided with access to the entire infrastructure (for more detailed information, please, see White Paper Section 4.6).
Cindicator - just another Prediction Market?
Cindicator is not a prediction market. We are different in infrastructure, goals and business model: We enhance collective intelligence of our forecasters with Artificial Intelligence. Prediction markets usually just gather opinions. We aim at creating Hybrid intelligence - an effective combination of human mind and machine intelligence. Prediction markets aim at making correct predictions. We create products for financial markets: not only forecasts and signals, but also strategies, indices, sentiments, trading bots and tools, SaaS products. Thus our clients and source of income are financial markets’ players. Prediction markets focus on predictions - and for many of them analytics are important part of cash inflow. We on the other hand have never made or plan to make our forecasters risk their own money. You can read this article to know more about comparison of collective intelligence platforms.
Is Cindicator just another trading signal provider?
No, Cindicator is a technological ecosystem that also creates a number of products for traders and hedge funds. Cindicator’s ultimate goal is to set up a decentralized intellectual technology that effectively implements the potential of Hybrid Intelligence for the benefit of all participants of the ecosystem. In the future the technology strives to be fully automated: the only resource necessary for it to function will be the mental investment by the analysts.
Is the crowd able to give reliable predictions?
Usually we don’t expect crowd to be wise. However, crowd doesn’t necessarily mean chaotic and impulsive mass. In case of Cindicator, “the crowd” consists of independent financial analysts from all corners of the Earth. We could call it a consensus - yet the word we use refers to a well-known concept called “Wisdom of the crowds”. A famous example: in 1906, British scientist Francis Galton came to a rural fair where visitors were invited to guess the weight of a bull put on public display and to write this figure on a special ticket just for entertainment. Organizers of that show promised prizes for those who managed to guess a true figure. Thus, about 800 people - some of them professional farmers, others far from pastoral matters - took part in the voting. After collecting all the tickets for analysis after the fair, Galton calculated the average arithmetic value from the entire sample: 1197 pounds. The actual weight of the bull was 1198 pounds. Astonishing result, isn’t it? In order to make “Wisdom of the crowds” work, a few things must be secured: Analytics must look at the situation independently and provide answer privately - because otherwise they risk to become influenced by some opinion and produce biased results Group of people must be large. The more people - the more accurate their consensus is. Questions must be formulated in quantitative way.
Watch a 5-mins video where BBC's professor Marcus du Sautoy explains how a group of people know more than one individual: https://www.youtube.com/watch?v=iOucwX7Z1HU
Have you acquired investments already?
Cindicator has already acquired around $570,000 of investments from angels and venture funds. We also got $140,000 worth grants for technologies from Microsoft, Facebook and Amazon. During Cindicator Token Sale $15,000,000 hardcap has been reached.
How experienced your team is?
The Cindicator team has been created by a synergy of like-minded people with a variety of expertise in maths, data science and finances working together with one collective mind. About 85% of the team members are graduates of top STEM universities. We understand the value of building the right Team, Community, and Ecosystem. We are actively expanding the scientific community around our infrastructure, business and ecosystem giving access to our work and technologies so we can act together to solve important and relevant problems.
Cindicator have a strong advisory board:
Charlie Shrem - Chief Operating Officer at Jaxx.io, Founder of Bitcoin Foundation
Anthony Diiorio - CEO and Founder at Decentral and Jaxx, Founder at Ethereum
Markus Killick - CEO ISOLAS LLP law firm, Chairman Gibraltar Stock Exchange
Evan Cheng - Director of Engineering at Facebook
Reese Jones - Associate Founder at Singularity University
Etienne Brunet - Investment Executive at Illuminate Financial
Simone Giacomelli - Founder at Vulpem
Stepan Gershuni - General partner at bits.capital
Anton Govor - Managing Director, Head of Strategy at Moscow Exchange
Andrei Rusakov - Partner, co-founder at Data Capital Management
Julian Zegelman - Corporate Attorney, Partner at Velton, Zegelman PC
Roman Storm - Blockchain and Solidity developer at blockchainlabs.nz
Konstantin Gladych - CEO and Co-founder at Changelly.com instant cryptocurrency exchange
Vivian Cheng - Associate at Cota Capital
Boris Ryabov - Managing partner at Bright Capital
submitted by Sidzu to Cindicator [link] [comments]

Monero FAQ

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

Where can I find a good mining pool?

 

Is Minergate good for mining?

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

What miner should I use?

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

Does it worth to mine monero?

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

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

Check this link for CPU & GPU Benchmark
 

Can I use a proxy for mining?

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

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

How to get a wallet without running a node
 

Can I run monero through Tor?

Guide to use monero with Tor correctly
Monero safety through Tor
 

or i2p?

Why we chose i2p over Tor
 

What type of wallet exists?

 

How long take to sync to the blockchain?

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

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

How do I generate a QR code for a Monero address
Moneroqrcode.com for a personalized code
 

How can I buy some Monero coins?

Directly:
exchanges:
 

How do I use the Monero GUI?

Tutorial
 

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

Connect GUI wallet to remote node on network
 

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

 

More useful links:

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

Cryptocurrency Investors

Hello! My name is Mihail Kudryashev, I am a frontend engineer at Platinum. We are a an international STO/IEO/ICO/POST ICO consulting, promotion and fundraising company with huge experience in STO and ICO marketing and best STO blockchain platform in the world! Learn more about it: Platinum.fund Our company gained popularity after launching the world’s number one online university with only practical knowledge on crypto economics. Now you can learn how to create and develop your own ICO and STO, how to market your campaign and make it super successful. Who are cryptocurrency investors? What drives people to invest in cryptocurrency? Read the extract of the UBAI lesson to get all the answers.
Introduction to the Investors §2
In 2017, the total cryptocurrency market capitalization was approaching $850B which begs the question:
Why are investors turning to cryptocurrencies?
A survey by Blockchain Capital indicated that at least 30% of millennials would rather invest in bitcoin than invest in traditional stocks. Cryptocurrency investors, like traditional investors, expect a return at least proportionate to the risk they take. Due to the fundamental lack of regulation, incredible volatility and astronomical relative risk, many cryptocurrency investors expect to earn meteoric returns. Returns in the ranges of multiples from 200% to 1000%.
Let us first begin by examining the kinds of people who invest in cryptocurrency, and then let’s see the reasons why each of them is investing in this relatively new market.
Types of Investors
The “Newbie” Cryptocurrency Investor
This investor is just starting out. They probably have not had any significant experience in any form of investing before and bitcoin is their first experience. They have heard about people making incredible returns from cryptocurrency investing, or some aspect of the entire blockchain and crypto revolution attracts them, and they decide they want to invest too.
Unfortunately, most of the newbie investors will end up losing their money, primarily because of one specific misconception; they think cryptocurrency investing is an easy way to make huge profits. “ “Types of Investors §2
“Gambler” or “Get Rich Quick” Investor
This is the second class of cryptocurrency investor, and is actually not really an investor at all.
This type of person is out to make a fortune as fast as possible. They will fall for whatever sweet-sounding scheme they hear. They love ideas that promise to double or triple their investment quickly. Like the Newbie, they do not understand how cryptocurrencies work, and they don’t care. The difference between this kind of investor and the successful individual or professional investor is that the gambler does not care about the management of risk, or about the timing of trades.
They place their money on the table, and they hope it will make a good return. They are gambling rather than creating an investment thesis and executing a well-thought out strategy. They might even have an infectious positive attitude, but unfortunately it is not backed by knowledge or the due diligence required to be a successful investor.
A good example of this style of thinking, outside of cryptocurrency, is high yield investment plans (HYIPs) that promise to multiply an investors capital by a certain factor. This is not to say that all HYIP programs are scams, but a good number of them are. Most importantly, the investors who flock into such plans have similar characteristics to that of the Get Rich Quick investor in that they will not take the time to learn about the field in which they are investing. They are just looking for fast money and an overnight success. “ “Types of Investors §3
Short Term Traders (Day/Swing Traders)
Short term traders must, without a doubt, be the most knowledgeable investors if they are going to succeed at their chosen profession. They have, or they should have, studied the art and science of trading more thoroughly than other people. This is the kind of investor who has taken the time to learn about cryptocurrencies and the markets on which they trade. Short term traders create deliberate and timed strategies in an attempt to profit from fast market movements. Maybe many of the short term traders started off as Newbies, but these are the individuals who took the time and effort to learn about the market. They wanted to know what they were doing. These are the people who survived and thrived to grow into the type of trader that they want to be.
Interestingly, the Day Trader does not attach emotion to any given coin. They do not need to believe in the sustainability/whitepapevision/road map, etc. of the project they are buying into at any particular time. They just need to be confident about the direction and timing of the potential price movement of the coin. “ “Types of Investors §4
Long Term Investors/ Hodlers
A great majority of successful cryptocurrency investors can be most properly classified as Long Term Investors, or HODLers in true crypto terminology. These are investors who understand quite a bit about cryptocurrency and blockchain technology and believe in the sustainability of the coins in which they are investing.
Think of the first few investors who bought bitcoin in the early days and years, when it was still deep under the radar for most people. These are the people who believed in the blockchain and cryptocurrency revolution. They didn’t sell their bitcoin for fast profit, although they had many chances to do so. They knew what they were doing, holding for the long term. These early investors and HODLers enjoyed astronomical growth all the way up to 2016 and 2017. But to be a long-term holder despite all the bad news and negative factors surrounding this brand new asset class, they must have really believed that bitcoin and the blockchain were going to change the world. This belief can only be established through study and research about the blockchain industry and the specific currencies and tokens in which you are going to invest.
Follow up and learn more on www.ubai.co!” “Types of Investors §5
Sophisticated/Professional Investors
These are experts in cryptocurrency investing. They most likely have a background in other forms of trading and investing, such as in stocks, bonds or options etc. They may also be earning fees by investing or managing money for other people.
The Iconomi fund managers are a good example. Each Fund Manager manages an array of digital assets. Investors might choose Iconomi because it offers a platform for the investor to allocate funds to specific fund managers, with the ability to swap between managers instantly if the investor desires to do so.
Each fund manager selects a number of coins in which they wish to trade or invest, with specified time horizons, short or long term. Investors can buy into the array of mutually held coins. This allows investors to utilize the knowledge and experience of professional fund managers to trade an allocated pool of capital, hopefully generating returns greater than the individual investor would be able to produce on his own.
The fund managers are motivated by the fees and commissions they earn, and perhaps a performance-linked bonus. You can certainly be properly classified as a Sophisticated Investor without any need to be a fund manager for other peoples’ money. But a professional fund manager has the ability to trade with a larger pool of capital, manage complicated risk, and diversify trading strategy to generate various streams of income. “ “Between Countries
A particular country’s participation in cryptocurrencies largely has to do with the legal regulations about blockchain projects and crypto currency investment in that jurisdiction.
When China banned the use of cryptocurrency, most Chinese nationals had to withdraw their investments. Many other countries have also placed bans on the use or trade of cryptocurrencies. Countries like Japan that have allowed the use of cryptocurrencies have witnessed a significant rise in cryptocurrency investments as a result. Japan and South Korea are home to several high-traffic cryptocurrency exchanges, meaning that a notable proportion of their population is investing in cryptocurrencies.
Another way to look at cryptocurrency investment demographics is to look at the bitcoin ATMs present in each country. The United States of America is the leading country, followed by Canada and then the United Kingdom.
According to a report by Google trends, the five top countries interested in bitcoin are: South Africa, Slovenia, Nigeria, Colombia and Bolivia.
Remember, cryptocurrency demographics can be a little tricky due to the anonymity involved. Many people may be afraid to participate in surveys, especially when their governments have placed legal restrictions on cryptocurrency investing.
The main point the research seems to validate is that the demographics of the cryptocurrency investor base is diverse. While the average investor may be a white or Asian male between the ages of 26-30 with at least a university degree, the entire investor base is so much larger than that. Many big investors are likely to be significantly older, and have connections and businesses in the traditional economy as well. “ “Notable Investors in Cryptocurrency
While many people have made fortunes from cryptocurrency investing, a handful of them stand out as being particularly remarkable. We will take a more detailed look at some of the biggest investment success stories to see how they did it and learn about their investing strategy.
The Winklevoss Twins
After being awarded their settlement from the lawsuit against Facebook, the Winklevoss twins decided to invest a significant portion of their money in Bitcoin. They invested $11million of the $65million they received. At that time, the price of a single bitcoin was about $120.
This high-risk investment paid off handsomely and they became the first publicly known Bitcoin Billionaires, perhaps owning more than 1% of the total bitcoin in circulation. In an interview with Financial Times in 2016, the twins jointly said that they consider “Bitcoin as potentially the greatest social network because it is designed to transfer value over the internet”. They also pointed out that compared to gold, bitcoin has equal or greater foundational traits of scarcity and portability. “ “Notable Investors in Cryptocurrency §2
Michael Novogratz
A self-made billionaire ex-Goldman Sachs investment banker, Novogratz has invested more than 30% of his fortune in cryptocurrency. In 2015, he announced a $500million cryptocurrency hedge fund, including $150million of his own money. Novogratz believes that “the blockchain, the computer code that underpins all cryptocurrencies, will reshape finance, just as the internet reshaped communication”.
The investment thesis of Mr. Novogratz is similar to that of the Winklevoss twins. He has taken and maintains a long-term position while he trades in and out of short term moves, based on his fundamental belief in the potential and likely application of the underlying blockchain technology. By starting an investment fund in addition to his other cryptocurrency related ventures, he is demonstrating a strong fundamental grasp of the technology, including its applicability and impact across so many industries. Slide
Barry Silbert
In December 2014 after the US Marshal’s office seized 50,000 bitcoins from the Silk Road, Barry Silbert purchased just 2,000 of those bitcoins at $350 per coin. A few years later of course, those coins were worth millions of dollars.
Barry is the founder and CEO of the Digital Currency Group (DCG) a cryptocurrency investment firm. Barry also made significant profits from Ethereum Classic, purchasing the coin in its very first days. He has invested in over 75 bitcoin related companies, including CoinDesk. As founder of the Digital Currency Group, Barry endeavors to support bitcoin and blockchain companies and accelerate the development of the global financial system. “ “Directly through Exchanges
Step One: Register on a reputable cryptocurrency exchange
To start investing, you first need to register on a reputable cryptocurrency exchange where you can buy bitcoin and other cryptocurrencies. Binance is a good exchange to use in this lesson. While it may or may not be the best, it is currently the largest, and they provide a very supportive layout and customer service department.
You should remember, to buy most altcoins (cryptocurrencies other than bitcoin), you specifically need to use an exchange like Coinbase or Kraken that allows you to convert fiat currency into cryptocurrency. From there, if you want to trade altcoins not listed on that exchange, you will have to transfer your BTC or ETH to a larger exchange like Binance, and buy the altcoin you want, using whichever trading pair that is best suited (BTC and ETH pairs are most common).
As we have already explained, if you are buying Bitcoin or any cryptocurrencies, you should invest in a wallet to safely store your coins. It is not advisable to store your BTC or other crypto on the exchanges for too long, due to hacking and other risks. “ “Directly through Exchanges
Step Two: Determine your Strategy
There are different ways to invest. You need to find a strategy that works for you and your specific set of skills. The value of a cryptocurrency is not defined by a formula or something out a textbook. If everyone was able to calculate the actual value of a share of stock, for example, or a bond, or other tradeable asset, then the price on an open market exchange would never move. Buyers and sellers would know exactly how much the asset is worth, so there would be no reason to sell lower or buy higher than the actual value.
You need to come up with your own ideas and strategies to take advantage of market moves. Sometimes you will have a position that is contrary to the general market. Other times you might be trading in agreement with a majority of other market participants. Investors are basically separable into one of two groups of thinkers. Contrarian investors go against the crowd, swimming against the current; Momentum investors ride the wave feeling secure in the majority. Being different can be good or it can be bad. You do not always want to necessarily get caught up in the most crowded trade. “ “Things to keep in Mind
Bitcoin Futures
We need to mention the bitcoin futures market as another potential way to invest. Toward the close of 2017, Bitcoin started trading on two fully recognized and well-established futures markets; the Chicago Board Options Exchange (CBOE), and the Chicago Mercantile Exchange CME.
The key quote from the exchanges was “because the futures can be traded on regulated markets, it will attract investors, making the market liquid, stabilizing prices and it will not suffer from low transaction speeds of Bitcoin Exchanges.”
For a risk averse investor, this offers a safer entry into cryptocurrency investing. A futures contract commits its owner to buy or sell the underlying asset, BTC, at a set price, and at a set date in the future. The investor in the futures contract does not actually own the underlying asset, but rather is trading on fluctuations in the price of the asset over a certain timeframe, as specified in the futures contract. “ “Things to keep in Mind §2
Common Pitfalls We cannot conclude this lesson without one more look at the common pitfalls a new cryptocurrency investor should avoid.
The problem areas are: -Falling for scams by failing to carry out due diligence. -Relying solely upon self-acclaimed crypto gurus and experts. If you want to trade, you must understand how to read news and charts for yourself. -Too much Greed. Not taking profit when you should. It is better to take a 20% gain, than wait for a 100% gain, only to lose it all in the end. -Lacking an investment strategy or exit plan. -Not sticking to your investment plan or strategy. -Allowing emotions to rule your decisions. Chasing your losses. -Investing what you cannot afford to lose.
And finally, some time-tested wisdom from Wall Street: Bulls make money. Bears make money. Pigs get slaughtered every time. (Don’t be greedy!)
We cannot overemphasize the risk involved in cryptocurrency investing. The potential to make huge gains over a short period of time does not come without risk. There is no doubt that significant players in the global financial markets are entering the cryptocurrency markets too. We are likely to witness more and more government authorities trying to regulate cryptocurrencies, hopefully to the overall benefit of a healthy market. It seems safe to say we will see cryptocurrencies become more mainstream due to the intense interest from the traditional financial industry and institutional investing community all over the world. What are better ways to successfully invest in cryptocurrencies? Which pitfalls should you avoid? Learn all on successful ICOs and STOs after reading the full lesson: UBAI.co How to start your STO/ICO campaign in 2019? Contact me via Instagram, Facebook, LinkedIn to know more about our education: Facebook LinkedIn Instagram
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Write-up of Q&A session with Natasha Andreeva, who leads development of our web and mobile products

Intro
Hi everyone, my name is Natasha Andreeva. I’m a product manager for the Collective Intelligence platform here at Cindicator. It’s a multi-platform application that gathers predictions from thousands of analysts and passes them over to our machine-learning module. I want to say thank you to all the community members who have submitted questions for me. Off we go.
What do you most like about Cindicator?
I wish all questions were like this one!
I met the team almost by accident back in January 2017: I was learning Python at the time and Cindicator was looking for a Python developer. I didn’t get the job, but I was blown away by their concept of enhancing crowd wisdom with artificial intelligence. I’m a big fan of both people and AI.
Still, the most exciting thing for me is that we’re building a company and an ecosystem that are unprecedented in the sector. The level playing field that the Cindicator token brought in had simply not been possible ever before. I was very lucky to join the team at such an exciting time.
What is the Cindicator team working on right now?
Right now our top priority is improving the quality of the time spent by analysts on the platform. We want to be sure that we have the perfect UX before moving on to stage two – massive user acquisition through a global marketing campaign. The tracks include, but are not limited to: creating better onboarding, readability improvements, introducing new and more elaborate statistics, and also introducing non-financial rewards, such access for our top analysts on the crowd forecasting platform to analytical products. Most of it is planned to be implemented in 2018.
What about the idea of using the Cindicator platform to predict the outcome of sporting events, real estate prices and the success of consumer goods?
It sounds interesting, and while we are open to discussions and experiments, for the time being we will continue to focus on financial markets, expanding the potential for analytics, which will in turn improve the flexibility of Hybrid Intelligence, so it will be more open to different applications in the future. To achieve this we are developing new types of questions, and I think in Q1 we will add a new type of question where you need to predict the date on which a given event will occur.
How can I submit my own question?
It won’t be this quarter, but I can promise that we are working on functionality that will allow users to offer this very lucrative asset. I should note that any requests to advertise on the platform will be ignored: our analytical team will send only questions that are interesting or useful to a majority of our product users to Hybrid Intelligence. But even now you can suggest an idea for a question or suggest a project – the analytical department will study all suggestions when forming its content plan. At present you can get the team’s attention regarding a project, asset or event via one of our public channels – Discord, Telegram or Twitter.
I want to know how others are forecasting, why can’t I?
We cannot disclose the predictions of other analysts at any point before the onset (or lack thereof) of a predicted event, firstly because Hybrid Intelligence is based on the concept of the wisdom of the crowd, that is to say the untainted and independent predictions of a decentralised community. The second reason is that this information forms the basis for the creation of indicators, access to which is granted to token holders. However, as part of the creation of a training system we are planning to give users the opportunity to compare their results with those of other analysts after the event window has passed. For example, you will be able to see statistics saying that you performed better than 80% of analysts etc. We will develop this feature in the future.
How to know how much I’m supposed to earn?
The prize fund is distributed progressively among all analysts, increasing with each echelon level. Both the placing within the echelon and the total number of points earned are taken into account. The formula for calculating the prize fund distribution is already rather complex, and it will only get more intricate as efforts are made to encourage analysts to develop and foster long-term partnerships. At the moment we do not display ‘potential winnings’ in the application, but you can look at the prize fund tables for the previous month and compare them with your current position in the rating in order to get a rough idea of your potential winnings. In future we will definitely integrate this feature.
Why do those who answer more frequently but less accurately receive greater rewards than those who make better forecasts?
Because they reply more often :) The remuneration is calculated based on the points collected by the analyst, and the total number of points reflects both the quantity and the quality of the predictions made: so you can be more accurate or make more predictions.
However, we will be introducing an update to the formula for calculating points in the near future. The area where the changes to the calculation formula will be felt most strongly is with questions about price – it should be clear by now that in a highly volatile market with sharp price jumps, a fine for inaccurate answers could be seen as unreasonable. We are planning to introduce a fairer system with a more generous formula for calculating points issued for price questions, and during the rollout and fine-tuning stages we will allow a grace period during which negative points will not be factored into these questions at all. The formula will be published in the FAQ section.
In your opinion, what can the community do to help spread the word about Cindicator and its products?
​Thank you so much for spreading the word about Cindicator – we appreciate how involved our community is in Cindicator’s development.
Marketing activities make up one of the most important parts of our 2018 roadmap, so we will need a lot of help from our community. What you can do for now:
Why is the background on the website/app black? Can you change it to white?
Love this question! One of the main reasons we chose a dark colour scheme is eye strain. Analysts can spend quite a long time in the app and, as with trading tools, we opted for a dark background to make it easier to process information.
Besides this, there is also the issue of finding a house style that resonates broadly with the concept of our ecosystem. Though nothing is ever set in stone, a sudden aesthetic change would, in our view, do more harm than good. We are not saying that a white colour scheme will never appear, but for now we are focusing on improving UX in the app and sticking with our existing visual language.
When and where can I get Cindicator merchandise?
Hey, I’m looking forward to getting my own Cindi t-shirt too :) All I can say for now is that merchandise will certainly be a part of the global marketing campaign. We’re working immensely hard on recruitment for the marketing team – four fantastic marketing professionals have joined us so far, with more to come. I hope our new Head of Marketing will be able to answer this question in one of the upcoming Q&A sessions.
When will statistics be implemented in the web application?
That’s a tricky one. Improving how we use statistics is in our plan for this quarter: part of this will involve regular UI/UX display updates in the mobile apps, and we will also add some useful features for tracking your progress, for example the ability to compare statistics month by month. We will therefore be developing a new statistics display for the web version alongside the new functionality, and we hope to be able to deliver a simultaneous release on all three platforms – iOS, Android and web by the end of the quarter.
I have ideas about how to improve Cindicator. What should I do? Will I be rewarded?
Public sprints are an essential tool for involving the community in the development of the platform. To take part in a public sprint you need to become a member of the Discord community, where you can put your ideas forward to other members and community moderators. All ideas voiced on Discord are reviewed by the team and then added to the Trello board, where other members can evaluate them, leave comments, and vote. The ideas that pick up the most votes are prioritised at the beginning of sprints, and the best ones will be developed.
One of the biggest tasks facing us in this track is converting qualitative inputs from sprint participants into a quantifiable reward, be it a public thanks, a mention on the site, access to products or even voting rights on strategic decisions regarding the development of Hybrid Intelligence. Right now we’re collecting stats on how active our community members are and how important their input is and I think that soon we will introduce a system for rewarding the most active ones.
When will the referral system be launched?
We completely agree, and a referral system is needed, but at the current time we are concentrating on developing features that will improve how analysts interact with the platform. As we boost our marketing activities, however, we will certainly attract a larger community, including with the help of a system of remuneration for referrals, and so it should be made clear that we plan to introduce a referral system as part of a full-scale marketing campaign.
Where does the prize fund come from? Are you planning to give out rewards in CND?
As stated in our white paper (which I personally consider a brilliant read and very much encourage you to at least look over), a major part of the Cindicator ecosystem will be a dynamic motivational pool that will be topped up with profits from the distribution of analytical products. As soon as we start accepting CND as a payment method (currently we only require users of analytical products to hold CND) we will swap both the Bitcoin and US dollar prize funds for CND.
Do you have any plans to further increase the prize fund?
We always take two metrics into account when calculating the size of the prize fund: the number of analysts eligible to receive prize money and the quality of their predictions overall. In the last six months we have already increased the prize fund twice: first from 0.7 BTC to 1 BTC and from $4,500 to $6,000 in November, and then to 1.25 BTC and $7,500 respectively in January. If we see another drastic change in both metrics we will certainly reevaluate the prize fund again.
Outro
That’s it for today. If you have any questions about what I’ve said during this Q&A you can find me in our Discord community – my name is Natasha Andreeva and my ID is 5867. Cheers everyone!
Link to the Q&A session: https://www.youtube.com/watch?v=NERd1FI4nkQ
submitted by Sidzu to Cindicator [link] [comments]

Signs Bitcoin is not going to reach mass adoption...

Bitcoin isn't going to go mainstream. No amount of Lightning Network (coming soon), SegWit (coming soon), bigger blocks (coming soon), or hard forks (never coming soon) is going to spur mass adoption.
Here are some tell-tale signs that Bitcoin is still on the fringe and will remain so.
I used Bitcoin for blank, give me karma.
Whether it's buying or selling something for Bitcoin, there are always those posts that seek confirmation from the echo-chamber that what they did is good for Bitcoin. You know what you don't see? Posts anywhere on reddit along the lines of "I bought this X for fiat from Amazon." You know why? No one cares if you use cash because it is mundane, widely available, and trivial to use. It is a tell-tale sign of mass adoption.
Bitcoin technology is going to revolutionize the BLANK INDUSTRY.
Capitalists are the kind who will find and exploit every advantage they can to gain a competitive edge. Be it technology, process, idea, or whatever if it can be turned into a money making machine. There have been estimates that Bitcoin has a $10 billion market cap, which is certainly impressive for something that came from nothing. But in the grand scheme of commercial trade it's a drop in the bucket. If Bitcoin were truly revolutionary, capitalists would have exploited it and actively contributed to its development already. Sure, there have been some minor localized successes, but not one truly revolutionary and successful billion dollar company has arisen. Not one Bitcoin company is a ubiquitous household name or brand. The ones everyone knows about in the Bitcoin space are irrevocably linked with fraud. Mt. Gox and Bitfinex for example.
...well. The most innovation in the Bitcoin space appears to be dark net markets and malware. Whether that's truly a welcome revolution is up for debate.
Bitcoin innovation is stagnant.
Other than slapping a miner on an already existing product, ahem 21 inc., what big innovation has there been in the Bitcoin space? The apps for buying and selling Bitcoin are all pretty much the same functionally. OpenBazaar has not heralded the end of online commerce as anticipated. It also continues to promise more features perpetually "coming soon" while the competition out-innovates them at the same time. Micro-tipping ChangeTip didn't really take off, and Steem or Yours isn't really a threat to any social network not focused around the idea. KimDotCom talks big, but he has yet to deliver.
u/changetip dose of reality
Bitcoin's fluctuating value makes it impossible for the average person calculate.
Notice that everything is still pegged to fiat in terms of valuation? Without using an internet device tell me how much $5 is worth in Bitcoin. Now decrease that by 7.23% because the BTC market dropped, again without the internet or a calculator. How much Bitcoin is that $0.99 coffee? What about this afternoon when Bitcoin is up 4.77%? What is your profit margin right now for being the seller? How about when you sold coffee for 12.19% earlier today.
Also, did you pay the right amount of penny shavings for your coffee transaction to go through? Yes? It may take up to 10 minutes to process. Maybe. Or not. We could have paid $0.99 in filthy fiat and been on our way already.
Widespread adoption isn't happening organically, or at all in most areas.
Outside of San Francisco and a few technically savvy urban enclaves where digital natives are on the cutting edge, there is no use case for Bitcoin in Kansas. Bitcoin has to rely on those who believe that it is better than fiat to spread the gospel of Satoshi (#NotACult). Until you don't have to have someone proselytize at length about Bitcoin's advantages over fiat, it isn't mainstream. How many posts have you come across where "I convinced Business Owner X to accept Bitcoin" only to check in later to find out they are no longer accepting it?
Speaking of cults...
Self-congratulatory posts patting the faithful on the back for their piety in printing out Bitcoin flyers or pasting stickers in public are frequent. Any time a Bitcoin logo is spotted in Mr. Robot, alongside the THOUSANDS of other symbols in it, the faithful are further convinced that widespread adoption is an inevitable reality. They're convinced viewers are keyed in to an insignificantly minor detail which will unravel the wisdom of the fiat destroyer Satoshi Nakamoto who will bring prosperity to all who read the hallowed white paper.
Also, deviation from the truth laid down in the whitepaper is heresy. #NotACult Which leads to all sorts of problems when the core developers, miners, or users want to change something for the improvement of Bitcoin. How many BIPs are actually implemented successfully without raising the ire of a vociferous userbase rabidly against change? (If you do know, please comment.)
Mass adoption would inevitably require regulation.
One of the functions of Bitcoin is to be a stateless, borderless, and censorship resistant currency. Does it accomplish that? Yes.
But if Bitcoin were to become widely adopted it would inevitably attract regulation. Uber is a great example of what happens when industry outpaces regulation. Uber drivers disrupted the taxi industry mainly because most places did not have regulations in place. Although providing an innovative service, it also led to insurance problems when drivers got into accidents, or health and safety concerns when drivers or riders get involved in an incident. Regulation is bringing the cavalier industry back into the realm of public safety and security.
Bitcoin may outpace regulation for a while, but mainstream adoption will inevitably require regulation at some point. How much of a percentage profit is legal when selling Bitcoin at an ATM? How do you classify gains or losses on taxes? What if I want to set up a retirement plan? What if the entity I store my Bitcoin savings with goes under? Those sorts of every day questions have legal ramifications that need to be parsed out for people to feel secure enough to adopt Bitcoin.
If you're screaming "STATIST SHILL" while reading this on a computer of some kind, remember that there are legal regulations insuring the device you're reading this on conforms to certain requirements.
Be your own bank is not a good thing for most people.
We hire people to be experts and professionals to do things we are not good at ourselves. You'd hire a lawyer to litigate on your behalf. You'd hire a plumber to fix your leaking pipes.
Most people are not good at being their own bank. Storing large amounts of cash in areas that are susceptible to theft is not a good idea. That's why people have banks. Do banks get robbed? Yes, but regulation insures that your deposits will be reimbursed. Can you be your own bank with Bitcoin? Yes. But you also assume all the risk, even the ones you are not cognizant of. bitcoin is no stranger to posts from users who lose their bitcoin with no means of recovery because they didn't fully anticipate the risks. SFYL.
But why would you want to go through all the hoops to be your own bank? You still need to convert that Bitcoin to fiat (or vice versa), get a loan for a car or home, or pay utility bills.
Irreversible transactions mean your money is gone.
Unless the person on the receiving end is feeling altruistic, those Bitcoin you sent to the wrong address or were "hacked" from the exchange you use are gone. How many people have been successful at recovering their lost Bitcoin through legal means? How many lawsuits have been successful at this?
::crickets::
The place where I store my money took 30% because they screwed up.
The ongoing BitFinex debacle is a prime example of why you should trust no one with your Bitcoin. Sure, they appeared legitimate. They were operating a successful exchange. Everything appeared to be in order and were highly recommended by most in the Bitcoin space. Until they got "hacked" and decided to distribute the "losses" among the users.
Most of those who lost Bitcoin in the hack are powerless to do anything. Some have turned to the authorities to recover their losses. Some are trying to mount a lawsuit. Some are going through the various stages of grief.
The inevitable "hack" that large Bitcoin entities experience is becoming a routine way for trusted innovators in the space to cash out safely with other people's savings. Mt. Gox, Cryptsy, and BitFinex are merely the largest skulls on a pile of bones of cryptocurrency heists. They were all trusted, until it became apparent that it was all a scam.
An industry where "trusted" actors can get away with theft is a barrier to widespread adoption.
Reddit is the primary communications platform where announcements occur.
If you've been burned by bitcoin or some company's support agents that didn't respond to your post, we welcome you with open arms.
Bitcoin is going to put an end to wars and government tyranny.
At what point in history has the use of currency determined whether or not a group, religious faction, or nation is going to wage hostilities against another? Or that adoption of a currency led to an outbreak of peace? It isn't going to happen.
Every now and then Greece, Venezuela, or (INSERT AFRICAN COUNTRY HERE) experience economic turmoil and it is viewed as an opportunity for Bitcoin adoption. No, it isn't even an opportunity. Because the people who use Bitcoin also have easy access to stable fiat currency through banks. They have the first world luxury of being able to convert fiat to Bitcoin relatively easily. (If jumping through several additional steps can be considered easy.) Has Bitcoin taken off anywhere with economic turmoil? Let's check the history books. No. Not one. Even marginal increases in adoption didn't occur.
I'm sure there are Captains of Industry who disagree with me for expressing these ideas. I'm sure there are also those who like me have been banned from bitcoin for pragmatic, practical, and reasonable insights. If you've wandered over here from bitcoin or btc or are u/americanpegasus looking to waste $50,000 of your precious time... welcome.
Gentlemen...
submitted by kenfagerdotcom to Buttcoin [link] [comments]

[Hopefully] Extensive Genesis Mining Math - Looking at network difficulty: -38.6% terminal ROI (yes that's a negative)

I recently got into an argument with someone spewing referral links and touting Genesis (and BitConnect, smh) so I decided to run the numbers the best I could for his situation.
tl;dr You will have a return of investment of -38.6% (yes, negative) before your contract is cancelled because of increased network difficulty.
Methodology
The Numbers
I started w/ 16.5 TH/s because that is how much the other person said he had. At today's rates, it costs $2,175 to buy 16.5TH/s. Maintenance rate is $0.00028/GHs, so maintenance fee is $4.62 fee per day or $0.1925/hr. I inputted this CoinWarz calculator w/ the $2,175 as the hardware costs, I used power and power costs of 192.5 Watts and $0.001/Wh, which equals the same $0.1925/hr maintenance fee
Initial (read: the one Genesis wants you to look at but is actually misleading) verdict: 228 days to break even. NOTE: this is really important because some people seem to forget this. An investment in Genesis cannot be withdrawn. It's money gone. So after 228 days you haven't doubled your money or even earned $2,175, you have $0. You spent $2,175 and then you got it back. $0 total.
Now, stepping it up, I introduce the effect of network difficulty. From my methodology, we assume that the difficulty doubles every six months. That means that you're making (after maintenance fee) the full $9.54/day on day one, but at month six it's $2.46. Wait a minute, that's not half!! I made this mistake too! Of the initial $9.54, you're earning $14.16 but paying a maintenance fee of $4.62 - so after network difficulty doubles you earn $7.08/day but still have to pay the same $4.62 maintenance fee (your Gemini contract includes nothing about them ever having to provide a better maintenance fee ever).
The network difficulty continues to increase and around the 9 month mark (to be precise, once network difficulty increases 3.065 times or day 280 of your contract) you're earning $4.62/day and your maintenance fee is $4.62 and imminently your contract is cancelled. You've hit the end of the road.
Based on the virtues of linearity, if you're earning $9.54/day on day 1 and $0/day on day $280. Thus you're earning an average $4.77/day over 280 days for a total of $1,335.60, which is a net loss of $839.40 or a return of -38.6% on your initial $2,175.
Conclusion
You will not make money with Genesis. You will lose money, a lot. The only way to make money is through referral links. That makes Genesis an MLM scheme.
EDIT: formatting.
submitted by barrycl to CryptoCurrency [link] [comments]

Continue:Chinese Comments for《Why against SegWit and Core? Jiang Zhuo’er, who invested millions in mining, gives his answers.》

Yesterday,The article “Why against SegWit and Core? Jiang Zhuo’er, who invested millions in mining, gives his answers.” caused a lot debates here. For the further communication between China and west, I’ll conclude some informations about the article, then translate some of the Chinese comments & opinions on this article.
BitKan is a famous platform bases on China, we offer all the information in crypto currency industry, including market data, all news resources in the world, price monitor, P2P bitcoins exchange,etc. BitKan is available in multilingual versions and you can try it out and also join the heated discussion here:BITKAN
BItKan just here to offer an exchange of information. We are not Jiang Zhuo'er or in any way associated with him.
Here is the original article(Chinese Version): https://bitkan.com/news/topic/25747 Here is the original article(English Version): https://bitkan.com/news/topic/25778 Here is the discussion on reddit/bitcoin: https://np.reddit.com/Bitcoin/comments/5egroc/why_against_segwit_and_core_jiang_zhuoer_who/ Here is the discussion on reddit/btc: https://www.reddit.com/btc/comments/5eh2cc/why_against_segwit_and_core_jiang_zhuoer_who/
Let’s see what Chinese comments under the article (post on BitKan Chinese news page):
Against
独行
If the writer does not want to see him nailed up on the pillar of humiliation, go learn some economics, plow through Satoshi’s whitepaper again esp. the economic logics in it. Also the writer needs to learn coding so as to avoid a mentality of a liberal art student. TBH your article is getting dramatic. 1. 1) Core never said the block size will stay at 1 MB, SegWit is a robust strategy at this moment. 2. 2) Your so-called HK consensus is nothing but a paper with seals from a few pools, a one-sided opinion. It’s not consensus. 3. 3) What an interesting conspiracy theory, you sound like the rest of the world is against China. How sick is that? Bitcoin has no national boundaries.
lxq990061
Back in 1840 in San Francisco, miners got rich with gold. But many more joined the game later on and with more ppl leaving the west empty-handed. How tragic. This is history, just like the one happening with Bitcoin. It was the pubs and inns opened near the gold mines earned real money: like the platforms today. Devs at Core are just like the merchants back in the day sipping their tea and trash-talking. But Core is indeed stupid: an 8-year long decentralized system requires support from a 95%? Some serious shit in their head.
讨厌装逼犯
You guys trash talk everyday non-stop...be quiet! This kind of argument cannot convince anyone. Harsh words+personall attacks just make it more chaotic. Politics...parties...freedom...conspiracy: disgusting. And this kind of article? Who you can convince? This is not the day 1 of the debate. True decision makers already have it in their mind. You ordinary ppl can change nothing even if you are convinced. My guess is whoever writes this kind of story must be someone who enjoys being worshiped by ppl on top of the ranks of “revolution”. You just like to quench your own thirst for fame. Worst case has nothing to do with tech, it’s a match for computation power, capital and strength. System set that C.power decides so let it be. Bitcoin will take on its due course no matter what. The disgusting part is the incitation, the manipulation of ppl’s emotions, and cap everything “a matter of revolution”. We Chinese ppl know this too well. Scaling is no longer about tech, but winning. Is it meaningful? The shame is not with the devs, they (inl. Core and BU) contributed their wisdom and labor. The real shame is with you talkers who humiliate ppl. You are so good, why not show me your money? Bitcoin is a merely 10B system, go buy it. If you cannot, just don’t trash talk.
idgui.com
1) lots of companies and apps are waiting for segwit, and OP is not against segwit, then https://bitcoincore.org/en/segwit_adoption/ why not implement it in the easiest way? SF is quite close , as long as enough miners support. HF egwit delivers community splitting risks. 2) LN can be decentralized enough should there be enough LN nodes. It won’t be concentrated on a handful of nodes. We can implement some limits on the main chain if we see an inclination toward centralization, such as higher tx fee for big nodes to limit big centralized LN node. 3) Main chain tx fee won’t be ridiculously high. If it does, miners get RICH, no? now we have 4% in tx fee, raise by 25 times you get more reward from it than the block reward. Then it’s acceptable even now, let alone future. Big amount tx are few. Small amount can be offchain, on LN or on sidechains. 4) SegWit has been thoroughly tests, and it’s a SF, compatible to previous nodes. There won’t be a major issue. Any code has risks, can you call BU risk-free? It depends on the level of risk. Segwit SF is acceptable, at most rolling back to 0.13.0, and segwit can increase little by little, not a sudden change. BU’s HF is different, with risks of splitting the entire ecosystem. 5) Miners have freedom of voting, but do consider the interests at large. You must represent the interests of the entire ecosystem, at least try to. We need decentralized nodes and unified ecosystem. SF segwit needs to be activated under consensus, and we can wait. HF needs even greater consensus or we risk losing it all. If we cannot have enough consensus for either HF or SF segwit, then we should let the SF segwit happen, since it has no risks of destruction.
Maybe I wrote it in bad order, let me edit it in the future. Don’t jump to conclusion OP. Segwit should be activated in the future.
Support
gjw
Core knows nothing about the spirit of contract. They ignore their public ann. a few months ago. A direct scaling is the simplest and most effective way of solving our urgent problem. Why roll out this thing that requires long-time testing? To have a worldwide success for Bitcoin, you need to provide ppl with access at low costs. It’s just like Internet. Core either has a vicious intention or has no faith in Bitcoin. If one day Bitcoin is being used by 9 digits of ppl, the main chain block size cannot be enough even at 100 MB. Micro payment still needs to go through something like LN. What’s the meaning of keeping the block size at 1MB? 7 years ago the block size was set at 1MB, what’s the hardware like 7 years ago? What the growth of bandwidth and storage in 7 years? 10 years or 20 years from now? The main battlefield of Bitcoin is in China. We Chinese ppl should not be satisfied with mining a few coins or gamble on a few exchanges. Take the responsibility and obligation of contribution. But, words are so much cheaper than codes. We need advanced devs for the main battlefield.
changyong
I appreciate Jiang Zhuo’er’s main points, they coincide with my opinions on the Chengdu blockchain conference: 1. scaling, segwit and LN should all be implemented. 2.it is highly wrong to make the main chain a settlement network 3. LN and the main chain are for different purposes and should not be inter-placeable. 4. main chain jam is driving towards LN Matthew Effect and monopolies. 5. miner decision is most rational and trust-worthy 6. tech and propaganda monopolies are endangering the whole system 7. SF increases long-term systemic debt and risks
A supplementary 8 points 1. blocksize cannot meet with the market demand for a long time---this is no less significant of a tech loophole. So a HF is a worthy action. 2. HF is an important instrument for Bitcoin to metabolize. Demonizing HF is suicidal. 3. The lack of incentives for devs and the centralization of tech are the paramount systemic risks at this moment 4. BU is a good start for competition, which will eliminate tech centralization. 5. HF scaling will not change the current landscape of profits and power, turning the main chain into a settlement network will. The latter carries great risks of Bitcoin failure. 6. Demonizing HF is a coverup for the changes and risks associated with the settlement network roadmap. 7. Democracy of Bitcoin requires ration, not loyalty and passion from the Bitcoiners, else, we are en route dictatorship. 8. For the sake of the wealth and energy you put into this, plz resort to reason, not blind worshipping and personal attacks.
myx
If you can compete with confidence, do compete under the same level of consensus. Bitcoin is the flapship of cryptos. An easy HF and an influential forked chain in the aftermath can be catastrophic. Miners can benefit in the short run after the spilitting. But in the long run, we all lose. A lowered threshold in anticipation of an easier fork is much worse than staying put. Based on Boss Jiang’s statement, 95% consensus can produce a 5% forked chain...then there will always be minority miners forking. In the end, the recognition of Bitcoin comes from users. Self-important forks by some miners are nothing but Alts. We have enough alts, no? So, 95%+ consensus is the only way to maintain unification. A coin without support from most of the users is an alt! Miners do get to decide, but the ultimate right is with the users’ recognition! If a 95%+ consensus is with a solution, then the rest minority do not matter. So, a solution without a high degree of consensus in a way is splitting the ecosystem. If BU dares not to bring up a 95% threshold, and in your own words, if a 51% HF is enough for a HF...you will end up splitting the ecosystem! Boss Jiang is a miner, and he feels he’s investing bigly, and he gets to decide. But in fact you are just for profit, not some Samaritan. Miners are just making profits on the most-recognized coin. Nothing to do with ethics. But a fair competition, by your own words, must be on the same criteria. Just like the 270 electoral votes in US presidential election. A common threshold. So, if BU wants to compete with segwit, do so under the same level of consensus. Any solution under a 95% consensus is just trolling for your own cowardice!
indexindex
The scaling debate involves 1)scaling for Bitcoin’s future and 2)breaking dev monopoly. Dev is the easiest part to control than hashing powers and users, literally the weakest part in the decentralization course of Bitcon. Spend 7 or 8 digits of USD on core devs, then you can control a multi-billion level product...that’s a good bargin for numerous capitals. Devs must realize that they can be abandoned should they do harm to Bitcoin in exchange of their own interests. Not just Core, but every dev team should understand this. BS’ investment must go burn, so as to make it a good example for future players.
Others
Tips: ID name “sfire” is the writer Jiang Zhuoer.
bikanyong to sfire
Hi Jiang I got 2 questions for you: 1. 1) apart from using high tx fee to chase tx to the LN, what’s the highlight of LN per se that draws tx? 2. 2) You mentioned LN will become a giant-dominated market based on Matthew Effect. Is our main chain facing the same risks?
sfire to bikanyong
Yes. LN is a secondary network with no need to broadcast network-wide. So LN has more frequent tx than the main chain. Small amount fast payment can be allowed. There is a price for not broadcasting network-wide: serious centralization risks (as seen in the article). So it can only be used for auxiliary purposes, but not as a foundation. The main chain is free from this risk becoz all miners on the main chain are equal. Gov may shut down 99% of the miners while the remaining 1% could still be handling tx. LN differentiates nodes with big ones and small ones. In the end, the big ones may end up huge and be banned by the gov. With the remaining allowed un-compliant small nodes, you cannot (very possibly) find a route of transfer in the LN, causing you failures in transfers.
bikanyongto sfire
You mean: Nodes on the main chain are equal, while in the LN, big nodes are more powerful than the small ones. Or put it another way: the nodes on the current main chain are inter-dependent, while they could get competitive against each other on the LN.---is it ok to put it like this?
sfire to bikanyong
It’s not that big nodes on the LN have more power, but connects more users. E.g. many ppl may, for the sake of their rate and service, connect to a giant “Coin-Pay or Coin-Pal” kind of node. If they want to transfer to users on another node called “Coin-Wechat”, they have to go through a route provided by “Coin-Pal”. Then, the giant node “Coin-Pal” bans you, leaving you in de facto ban from transfers to most ppl on the LN.
kok99999 to bikanyong
LN changes the topology of the network, and changes the whole game.
独行
Just becoz you need to enlarge the userbase, you need to scale up? It’s hilarious. The transfer of tx requires cost. No matter how wide is the highway, you don’t charge ppl, you will have a heave traffic. Via the market’s hand, only big amount tx are allowed on the chain---this does not affect the liquidity of onchain assets.
sfire to 独行
You can go offer some advice to the gov and ask them not to build up our infrastructure, since it’s so costy. Just charge ppl money, how convenient is that? Only luxury cars are allowed on the road....this does not affect the vitality of the city.
wz to 独行
What you are saying is not market’s hand. Leaving ppl with no choice is a market behavior? Free competition is the market’s hand.
无名 to 独行
No hard facts other than trashing ppl...no reasoning...these resemble your Core masters.
BTC专业工
I just wanna say: Hail to Multi-Party system! One-Party Dictatorship is doomed.
mellowtone
Support miners, support PoW and computational-power-consensus is the real consensus.
pyjx306
If tx fee goes up, I will quit.
savage
Since Core is so determined to castrate the main chain and revolution miners out, why did they set the 95% threshold? Core has no computation power, and they are so confident that miners will load their heads with enough shit and support Core?
sfire
It’s just a routine to set the 95% threshold for SF. If Core does not use the figure, the anti-Core voice will only grow, furthering their success rate down.
amo1998
95% could be of more complicated reasons. I think BS should have taken into consideration that they control at least 5% of the C.power. (S pool and BTCC pool). If I were BS, I’d have a contingency plan for worst-case scenario. Even 95% means we fail, we BS will not allow for a HF. We can also bash you from a moral high ground and accuse the onchain scailing side.
caitong
I cannot tell which one is better, HF first or SegWit first...both seemed to be practical and dangerous. But both sides have their own political agenda---that’s for sure. We avg. Joes prefer that, no matter what solution taken or risks what come along, just march on. We cannot stay here and die.
wz
No development=you will be taken by someone else. The network jam is significantly hindering its future. SegWit and LN cannot be replacements for a HF, Core knows that, but they still want to use them to replace a HF solution. Bitcoin is not the only cryptocurrency out there. No user, no value.
yangzi666
Still, no matter what solution, if we have 2 chains and 2 Bitcoins, there will be chaos esp. for newbies. Miners and exchanges will take side and cause even greater chaos. Attention ppl: those were bashing Bitcoin with short positions all day long are now also in favor of THAT solution! Newton had it: I can calculate the motion of heavenly bodies, but not the madness of people! HF is not a good solution at this moment. No matter which one, there must be no risk of forking into 2 chains---that qualifies an option on the table.
wz
SegWit and LN are not the replacement of a HF. Core has their own interests. You ostrich ppl just keep your heads in the sand, the risks won’t go away.
yangzi666 reply wz
1)I am no osrich. I will not be speaking here if I had my head in the sand, esp. at the risks of your bashings. 2)I oppose the risks of Bitcoin forking into 2 coins: you need to live longer to have the experience of humanity. 3)Seriously suggest you guys use some mild words, don’t be so dramatic. Just get your opinions clear no matter what you are proposing. Don’t just attack other ppl and their solutions. And plz don’t use harsh words. I believe we miners have wisdom. Given time, just wait and see the chart.
睿思通-专注比特币交易平台开发
Only miners, who invested millions-worth of personal wealth, the sunk cost, cannot leave like a bitcoiner, thus can be qualified as the Bitcoin’s safe guards.
nodouble
Scaling is what all users want. We just have different opinions on the solution we choose. It’s hard to judge Core’s manipulation, but they do oppose a simple direct scaling. They broke the deal with pools and manipulated the public opinion. You do see these as facts. You know about IT and finance, and probably with your butt on finance. You earn monopoly profits that others cannot touch. Bitcoin is the genius, the genesis of this sick market. Core’s segwit and LN are in fact copying financial sector’s monopoly nature to Bitcoin, and with an overly engineered tech threshold to solidify the position of interest groups like Blockstream. The scaling of the main chain, a market that naturally embraces users, will bring the disillusionment of LN, a market naturally forcing users. The conflict of opinions is in fact the fight of power of at a certain level. For Bitcoin, it’s Satoshi’s brilliant design and judgment that has it: we let the miners decide. This is also most reasonable in reality. Like you said, should we realize it, we are all happy.
idgui.com
1) I’m pro segwit and LN, segwit solves a lot of historical problems and improves efficiency; LN provides greater room for timely confirmations and high frequency tx. [reply] good, welcome for your choice on segwit+LN. It’s good improvement for the development of the ecosystem. Segwit has a good structure for app developments. LN can realized second-level confirmation and low tx fee that everyone wants.
2) Miners being trust-worthy don’t mean all miners can tell the future. Miners are trust-worthy because they see profits. They analyze the interests of all parties. Their behavioral pattern is predictable. [reply] There are short-term interests and long-term interests. Not all miners are limited to those before their eyes or those in their dreams. Only when interests short-term and long-term are consistent can they be predicted. But you cannot do that now. Also, different miners have different standards of judgement.
3) ETH HFed many times, not produced a forked chain only once, why? Because this very HF violates the basic principle of cryptocurrency: immutability of blockchain. That’s why ppl reject ETH and would welcome ETC. Then you have trades and markets and price and miners. Previously loyal miners can turn. That’s why I say Chandler’s statement was irrational. Just don’t talk about loyalty and friendship when it comes to cryptos, just talk about interests. [reply] There’re active and forced HFs. We had one in our history. Along with the later HFs of ETH, they are all bug-fixes that serves only good. But the in the ETH/ETC case, the HF was to find the stolen coins, not for a bug fix: an active HF. Active HF has great potential for splitting the ecosystem, and forced ones are safe. HF scaling is apparently an active HF. Blocksize limit is not an imperative bug fix target; and HF scaling is not necessarily good for everyone, at least it raise the bar to run a full node.
4) Landscape of interests: I’m saying the interests and decision-making patterns of all parties in the system (miners, corps, users, investors, devs) stay the same, not that all interests should remain the same. HF scaling produces no change to the original running mechanism, so the landscape does not change. Even if ETH forked into 2, their interests are in the same old landscape and an Alt relationship between each other. [reply] You are not aware of the dangers and harms of a split ecosystem. You should read some other articles first. A split is not just about simply see another Alt, it’s overwhelming.
END
Thanks for our translator David.
submitted by BitKan to Bitcoin [link] [comments]

Why Can PlusFo Super Blockchain Come Out When the Token Is Silent?

Why Can PlusFo Super Blockchain Come Out When the Token Is Silent?
Bitcoin is a small dream of mankind. The origin of this dream is science fiction, cyberpunk, and then the formation of a password punk organization. Nakamoto is from this organization.

https://preview.redd.it/ngwpt7rgbcx21.jpg?width=363&format=pjpg&auto=webp&s=ff657ba85a4c4c5c4489d8abb497efe40b0e783f
With the “separation of industries, the blockchain can be combined with the transition from “discussion, layout and exploration” to “competition”, I often ask a question (to learn from investors) when interviewing the blockchain enterprise, if the industry giant also do this business, where is your living space?
Some bosses bluntly said, “There is nothing wrong with us, that is, the giants turn around and take a slow time.” Some entrepreneurs have stolen the concept of “decentralization” and tried to convince me that “the giants will not take such big risks.”
In fact, when asked this question, I don’t expect a team that just started to have competition barriers. I just hope that the practitioners who actually do things will pay attention to the market trends when they are working hard. These actions not only contain the energy to subvert the vertical track competition pattern, but also predict that a large amount of funds will enter the blockchain and cryptocurrency market.
We found that in the application of blockchain, the choices of domestic and foreign giants converge (financial, supply chain-based). The difference is mainly reflected in the strong demand for domestic traceability. Enterprises use more water for blockchain applications, while overseas embraces “financial innovation” and R&D “firepower” is relatively concentrated. Of course, behind the differences are different policy attitudes, economic environment, technological innovation and companypropaganda strategies.

https://preview.redd.it/d7g9k0oibcx21.jpg?width=356&format=pjpg&auto=webp&s=4e91f1697576c0a2a94a617b4758dad7f541d7c1
According to a survey conducted by the Korean non-profit self-regulatory organization (SRO), 7.4% of Koreans said they purchased cryptocurrencies, with a per capita investment of more than 6,000 USD, more than 60% higher than last year, and 30 to 50 years old.
Now the mainstream market analysis software downloads are between 2 million and 3 million, so the rough statistics are currently 5 million in China, and there is also 20 times the growth.
The market for digital tokens against the stock market’s skyrocketing and plunging should be used to investors who have entered the market for more than half a year.

https://preview.redd.it/ko7qlhqkbcx21.jpg?width=309&format=pjpg&auto=webp&s=d4c5545d24eaf0dc06750eef178827c1cd466b85
In the next round of bull market in 2019, the market may be spiraling upwards. Therefore, if you are using some value tokens to make long-term investment, you don’t have to worry about temporary profit and loss.
Do you want to invest now? If you are planning to hold the long-term bull market to the next round of bull market, it is a wise choice to enter the venue on a regular basis according to the specific situation. If you just fall too much, you will buy more points, like the previous period of time has continued to rise for a week or two, then Slowly wait for the callback, and continue to vote for a certain period of time, thus sharing the cost risk.
A few days ago, when browsing the public number, I accidentally saw a platform called PlusFo, which is called the next generation public chain representative. PlusFo has created the force mining. It only needs to complete the relevant tasks every day to get the force PUF, which is equivalent to the calculation power. It can also increase the profit by purchasing PUF, and get the platform currency of PlusFo through the calculation of mining power. FOT. And FOT can be directly converted to mainstream tokens (such as BTC, ETH, etc.). Not only that, but by becoming a VIP member, the benefits of mining will double.

https://preview.redd.it/5l1a7qenbcx21.jpg?width=265&format=pjpg&auto=webp&s=4079bce591480ec84e490416063dd40055a9e4c8
At the same time,PlusFo’s special mechanism — exclusive insured feature. When the market is not good, many people still hold a lot of digital currency in their hands. The retention of these digital tokens has become a headache. PlusFo’s quantification model maximizes the use of these digital assets. On the one hand, if the market price rises, the corresponding income will increase. And once the price of the currency falls, this quantitative model can also make these digital tokens still insured. In the event of a loss, the PlusFo official will make up for the user’s total loss. This makes the user no longer have any worries.

https://preview.redd.it/bo8o4q6qbcx21.png?width=640&format=png&auto=webp&s=7ec133dc42f93896ba5fbf1f67823759b74ac50e
The operation of PlusFo Super Public Blockchain has been continually eye-catching, but the investment market is ever-changing. Investors are often influenced by the market and market sentiment and generate various psychology and behaviors that are very harmful to investment. Another important reason for most investors to chase the hot spot is that early participants in the hot field took the opportunity to drink the first soup because of the first step, so other people take it for granted that this kind of thing will happen to them.
Why are you asking him? He would say that because others have succeeded, why can he, why can’t I? But in fact, many times others are available and you will lose your chance forever, because the background of time and space has changed radically. When the latecomers go to the hot spot, the Blue Ocean has become the Red Sea, and the chances of success are small.
Investment is different from other fields. What is most needed in this field is public wisdom. What is most needed is independent thinking. The average wisdom of a group is actually determined by the majority of people in this group. Most people will be in the crowd, so as an investor, you need to avoid the public and observe calmly.
When the risk is always at the top of the crowd, the opportunity is always on the verge of silence.
.
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Registration: https://zfo.one/register
Download: https://zfo.one/download.html
Follow us on Twitter: https://twitter.com/plusfo_official
Contact us:
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Continue:Chinese Comments for《Why against SegWit and Core? Jiang Zhuo’er, who invested millions in mining, gives his answers.》

Yesterday,The article “Why against SegWit and Core? Jiang Zhuo’er, who invested millions in mining, gives his answers.” caused a lot debates here. For the further communication between China and west, I’ll conclude some informations about the article, then translate some of the Chinese comments & opinions on this article.
BitKan is a famous platform bases on China, we offer all the information in crypto currency industry, including market data, all news resources in the world, price monitor, P2P bitcoins exchange,etc. BitKan is available in multilingual versions and you can try it out and also join the heated discussion here:BITKAN
BItKan just here to offer an exchange of information. We are not Jiang Zhuo'er or in any way associated with him.
Here is the original article(Chinese Version): https://bitkan.com/news/topic/25747 Here is the original article(English Version): https://bitkan.com/news/topic/25778 Here is the discussion on reddit/bitcoin: https://np.reddit.com/Bitcoin/comments/5egroc/why_against_segwit_and_core_jiang_zhuoer_who/ Here is the discussion on reddit/btc: https://www.reddit.com/btc/comments/5eh2cc/why_against_segwit_and_core_jiang_zhuoer_who/
Let’s see what Chinese comments under the article (post on BitKan Chinese news page):
Against
独行 If the writer does not want to see him nailed up on the pillar of humiliation, go learn some economics, plow through Satoshi’s whitepaper again esp. the economic logics in it. Also the writer needs to learn coding so as to avoid a mentality of a liberal art student. TBH your article is getting dramatic. 1. 1) Core never said the block size will stay at 1 MB, SegWit is a robust strategy at this moment. 2. 2) Your so-called HK consensus is nothing but a paper with seals from a few pools, a one-sided opinion. It’s not consensus. 3. 3) What an interesting conspiracy theory, you sound like the rest of the world is against China. How sick is that? Bitcoin has no national boundaries.
lxq990061 Back in 1840 in San Francisco, miners got rich with gold. But many more joined the game later on and with more ppl leaving the west empty-handed. How tragic. This is history, just like the one happening with Bitcoin. It was the pubs and inns opened near the gold mines earned real money: like the platforms today. Devs at Core are just like the merchants back in the day sipping their tea and trash-talking. But Core is indeed stupid: an 8-year long decentralized system requires support from a 95%? Some serious shit in their head.
讨厌装逼犯 You guys trash talk everyday non-stop...be quiet! This kind of argument cannot convince anyone. Harsh words+personall attacks just make it more chaotic. Politics...parties...freedom...conspiracy: disgusting. And this kind of article? Who you can convince? This is not the day 1 of the debate. True decision makers already have it in their mind. You ordinary ppl can change nothing even if you are convinced. My guess is whoever writes this kind of story must be someone who enjoys being worshiped by ppl on top of the ranks of “revolution”. You just like to quench your own thirst for fame. Worst case has nothing to do with tech, it’s a match for computation power, capital and strength. System set that C.power decides so let it be. Bitcoin will take on its due course no matter what. The disgusting part is the incitation, the manipulation of ppl’s emotions, and cap everything “a matter of revolution”. We Chinese ppl know this too well. Scaling is no longer about tech, but winning. Is it meaningful? The shame is not with the devs, they (inl. Core and BU) contributed their wisdom and labor. The real shame is with you talkers who humiliate ppl. You are so good, why not show me your money? Bitcoin is a merely 10B system, go buy it. If you cannot, just don’t trash talk.
idgui.com 1) lots of companies and apps are waiting for segwit, and OP is not against segwit, then https://bitcoincore.org/en/segwit_adoption/ why not implement it in the easiest way? SF is quite close , as long as enough miners support. HF egwit delivers community splitting risks. 2) LN can be decentralized enough should there be enough LN nodes. It won’t be concentrated on a handful of nodes. We can implement some limits on the main chain if we see an inclination toward centralization, such as higher tx fee for big nodes to limit big centralized LN node. 3) Main chain tx fee won’t be ridiculously high. If it does, miners get RICH, no? now we have 4% in tx fee, raise by 25 times you get more reward from it than the block reward. Then it’s acceptable even now, let alone future. Big amount tx are few. Small amount can be offchain, on LN or on sidechains. 4) SegWit has been thoroughly tests, and it’s a SF, compatible to previous nodes. There won’t be a major issue. Any code has risks, can you call BU risk-free? It depends on the level of risk. Segwit SF is acceptable, at most rolling back to 0.13.0, and segwit can increase little by little, not a sudden change. BU’s HF is different, with risks of splitting the entire ecosystem. 5) Miners have freedom of voting, but do consider the interests at large. You must represent the interests of the entire ecosystem, at least try to. We need decentralized nodes and unified ecosystem. SF segwit needs to be activated under consensus, and we can wait. HF needs even greater consensus or we risk losing it all. If we cannot have enough consensus for either HF or SF segwit, then we should let the SF segwit happen, since it has no risks of destruction.
Maybe I wrote it in bad order, let me edit it in the future. Don’t jump to conclusion OP. Segwit should be activated in the future.
Support
gjw Core knows nothing about the spirit of contract. They ignore their public ann. a few months ago. A direct scaling is the simplest and most effective way of solving our urgent problem. Why roll out this thing that requires long-time testing? To have a worldwide success for Bitcoin, you need to provide ppl with access at low costs. It’s just like Internet. Core either has a vicious intention or has no faith in Bitcoin. If one day Bitcoin is being used by 9 digits of ppl, the main chain block size cannot be enough even at 100 MB. Micro payment still needs to go through something like LN. What’s the meaning of keeping the block size at 1MB? 7 years ago the block size was set at 1MB, what’s the hardware like 7 years ago? What the growth of bandwidth and storage in 7 years? 10 years or 20 years from now? The main battlefield of Bitcoin is in China. We Chinese ppl should not be satisfied with mining a few coins or gamble on a few exchanges. Take the responsibility and obligation of contribution. But, words are so much cheaper than codes. We need advanced devs for the main battlefield.
changyong I appreciate Jiang Zhuo’er’s main points, they coincide with my opinions on the Chengdu blockchain conference: 1. scaling, segwit and LN should all be implemented. 2.it is highly wrong to make the main chain a settlement network 3. LN and the main chain are for different purposes and should not be inter-placeable. 4. main chain jam is driving towards LN Matthew Effect and monopolies. 5. miner decision is most rational and trust-worthy 6. tech and propaganda monopolies are endangering the whole system 7. SF increases long-term systemic debt and risks
A supplementary 8 points 1. blocksize cannot meet with the market demand for a long time---this is no less significant of a tech loophole. So a HF is a worthy action. 2. HF is an important instrument for Bitcoin to metabolize. Demonizing HF is suicidal. 3. The lack of incentives for devs and the centralization of tech are the paramount systemic risks at this moment 4. BU is a good start for competition, which will eliminate tech centralization. 5. HF scaling will not change the current landscape of profits and power, turning the main chain into a settlement network will. The latter carries great risks of Bitcoin failure. 6. Demonizing HF is a coverup for the changes and risks associated with the settlement network roadmap. 7. Democracy of Bitcoin requires ration, not loyalty and passion from the Bitcoiners, else, we are en route dictatorship. 8. For the sake of the wealth and energy you put into this, plz resort to reason, not blind worshipping and personal attacks.
myx If you can compete with confidence, do compete under the same level of consensus. Bitcoin is the flapship of cryptos. An easy HF and an influential forked chain in the aftermath can be catastrophic. Miners can benefit in the short run after the spilitting. But in the long run, we all lose. A lowered threshold in anticipation of an easier fork is much worse than staying put. Based on Boss Jiang’s statement, 95% consensus can produce a 5% forked chain...then there will always be minority miners forking. In the end, the recognition of Bitcoin comes from users. Self-important forks by some miners are nothing but Alts. We have enough alts, no? So, 95%+ consensus is the only way to maintain unification. A coin without support from most of the users is an alt! Miners do get to decide, but the ultimate right is with the users’ recognition! If a 95%+ consensus is with a solution, then the rest minority do not matter. So, a solution without a high degree of consensus in a way is splitting the ecosystem. If BU dares not to bring up a 95% threshold, and in your own words, if a 51% HF is enough for a HF...you will end up splitting the ecosystem! Boss Jiang is a miner, and he feels he’s investing bigly, and he gets to decide. But in fact you are just for profit, not some Samaritan. Miners are just making profits on the most-recognized coin. Nothing to do with ethics. But a fair competition, by your own words, must be on the same criteria. Just like the 270 electoral votes in US presidential election. A common threshold. So, if BU wants to compete with segwit, do so under the same level of consensus. Any solution under a 95% consensus is just trolling for your own cowardice!
indexindex The scaling debate involves 1)scaling for Bitcoin’s future and 2)breaking dev monopoly. Dev is the easiest part to control than hashing powers and users, literally the weakest part in the decentralization course of Bitcon. Spend 7 or 8 digits of USD on core devs, then you can control a multi-billion level product...that’s a good bargin for numerous capitals. Devs must realize that they can be abandoned should they do harm to Bitcoin in exchange of their own interests. Not just Core, but every dev team should understand this. BS’ investment must go burn, so as to make it a good example for future players.
Others
Tips: ID name “sfire” is the writer Jiang Zhuoer.
bikanyong to sfire Hi Jiang I got 2 questions for you: 1. 1) apart from using high tx fee to chase tx to the LN, what’s the highlight of LN per se that draws tx? 2. 2) You mentioned LN will become a giant-dominated market based on Matthew Effect. Is our main chain facing the same risks?
sfire to bikanyong Yes. LN is a secondary network with no need to broadcast network-wide. So LN has more frequent tx than the main chain. Small amount fast payment can be allowed. There is a price for not broadcasting network-wide: serious centralization risks (as seen in the article). So it can only be used for auxiliary purposes, but not as a foundation. The main chain is free from this risk becoz all miners on the main chain are equal. Gov may shut down 99% of the miners while the remaining 1% could still be handling tx. LN differentiates nodes with big ones and small ones. In the end, the big ones may end up huge and be banned by the gov. With the remaining allowed un-compliant small nodes, you cannot (very possibly) find a route of transfer in the LN, causing you failures in transfers.
bikanyongto sfire You mean: Nodes on the main chain are equal, while in the LN, big nodes are more powerful than the small ones. Or put it another way: the nodes on the current main chain are inter-dependent, while they could get competitive against each other on the LN.---is it ok to put it like this?
sfire to bikanyong It’s not that big nodes on the LN have more power, but connects more users. E.g. many ppl may, for the sake of their rate and service, connect to a giant “Coin-Pay or Coin-Pal” kind of node. If they want to transfer to users on another node called “Coin-Wechat”, they have to go through a route provided by “Coin-Pal”. Then, the giant node “Coin-Pal” bans you, leaving you in de facto ban from transfers to most ppl on the LN.
kok99999 to bikanyong LN changes the topology of the network, and changes the whole game.
独行 Just becoz you need to enlarge the userbase, you need to scale up? It’s hilarious. The transfer of tx requires cost. No matter how wide is the highway, you don’t charge ppl, you will have a heave traffic. Via the market’s hand, only big amount tx are allowed on the chain---this does not affect the liquidity of onchain assets.
sfire to 独行 You can go offer some advice to the gov and ask them not to build up our infrastructure, since it’s so costy. Just charge ppl money, how convenient is that? Only luxury cars are allowed on the road....this does not affect the vitality of the city.
wz to 独行 What you are saying is not market’s hand. Leaving ppl with no choice is a market behavior? Free competition is the market’s hand.
无名 to 独行 No hard facts other than trashing ppl...no reasoning...these resemble your Core masters.
BTC专业工 I just wanna say: Hail to Multi-Party system! One-Party Dictatorship is doomed.
mellowtone Support miners, support PoW and computational-power-consensus is the real consensus.
pyjx306 If tx fee goes up, I will quit.
savage Since Core is so determined to castrate the main chain and revolution miners out, why did they set the 95% threshold? Core has no computation power, and they are so confident that miners will load their heads with enough shit and support Core?
sfire It’s just a routine to set the 95% threshold for SF. If Core does not use the figure, the anti-Core voice will only grow, furthering their success rate down.
amo1998 95% could be of more complicated reasons. I think BS should have taken into consideration that they control at least 5% of the C.power. (S pool and BTCC pool). If I were BS, I’d have a contingency plan for worst-case scenario. Even 95% means we fail, we BS will not allow for a HF. We can also bash you from a moral high ground and accuse the onchain scailing side.
caitong I cannot tell which one is better, HF first or SegWit first...both seemed to be practical and dangerous. But both sides have their own political agenda---that’s for sure. We avg. Joes prefer that, no matter what solution taken or risks what come along, just march on. We cannot stay here and die.
wz No development=you will be taken by someone else. The network jam is significantly hindering its future. SegWit and LN cannot be replacements for a HF, Core knows that, but they still want to use them to replace a HF solution. Bitcoin is not the only cryptocurrency out there. No user, no value.
yangzi666 Still, no matter what solution, if we have 2 chains and 2 Bitcoins, there will be chaos esp. for newbies. Miners and exchanges will take side and cause even greater chaos. Attention ppl: those were bashing Bitcoin with short positions all day long are now also in favor of THAT solution! Newton had it: I can calculate the motion of heavenly bodies, but not the madness of people! HF is not a good solution at this moment. No matter which one, there must be no risk of forking into 2 chains---that qualifies an option on the table.
wz SegWit and LN are not the replacement of a HF. Core has their own interests. You ostrich ppl just keep your heads in the sand, the risks won’t go away.
yangzi666 reply wz 1)I am no osrich. I will not be speaking here if I had my head in the sand, esp. at the risks of your bashings. 2)I oppose the risks of Bitcoin forking into 2 coins: you need to live longer to have the experience of humanity. 3)Seriously suggest you guys use some mild words, don’t be so dramatic. Just get your opinions clear no matter what you are proposing. Don’t just attack other ppl and their solutions. And plz don’t use harsh words. I believe we miners have wisdom. Given time, just wait and see the chart.
睿思通-专注比特币交易平台开发 Only miners, who invested millions-worth of personal wealth, the sunk cost, cannot leave like a bitcoiner, thus can be qualified as the Bitcoin’s safe guards.
nodouble Scaling is what all users want. We just have different opinions on the solution we choose. It’s hard to judge Core’s manipulation, but they do oppose a simple direct scaling. They broke the deal with pools and manipulated the public opinion. You do see these as facts. You know about IT and finance, and probably with your butt on finance. You earn monopoly profits that others cannot touch. Bitcoin is the genius, the genesis of this sick market. Core’s segwit and LN are in fact copying financial sector’s monopoly nature to Bitcoin, and with an overly engineered tech threshold to solidify the position of interest groups like Blockstream. The scaling of the main chain, a market that naturally embraces users, will bring the disillusionment of LN, a market naturally forcing users. The conflict of opinions is in fact the fight of power of at a certain level. For Bitcoin, it’s Satoshi’s brilliant design and judgment that has it: we let the miners decide. This is also most reasonable in reality. Like you said, should we realize it, we are all happy.
idgui.com 1) I’m pro segwit and LN, segwit solves a lot of historical problems and improves efficiency; LN provides greater room for timely confirmations and high frequency tx. [reply] good, welcome for your choice on segwit+LN. It’s good improvement for the development of the ecosystem. Segwit has a good structure for app developments. LN can realized second-level confirmation and low tx fee that everyone wants.
2) Miners being trust-worthy don’t mean all miners can tell the future. Miners are trust-worthy because they see profits. They analyze the interests of all parties. Their behavioral pattern is predictable. [reply] There are short-term interests and long-term interests. Not all miners are limited to those before their eyes or those in their dreams. Only when interests short-term and long-term are consistent can they be predicted. But you cannot do that now. Also, different miners have different standards of judgement.
3) ETH HFed many times, not produced a forked chain only once, why? Because this very HF violates the basic principle of cryptocurrency: immutability of blockchain. That’s why ppl reject ETH and would welcome ETC. Then you have trades and markets and price and miners. Previously loyal miners can turn. That’s why I say Chandler’s statement was irrational. Just don’t talk about loyalty and friendship when it comes to cryptos, just talk about interests. [reply] There’re active and forced HFs. We had one in our history. Along with the later HFs of ETH, they are all bug-fixes that serves only good. But the in the ETH/ETC case, the HF was to find the stolen coins, not for a bug fix: an active HF. Active HF has great potential for splitting the ecosystem, and forced ones are safe. HF scaling is apparently an active HF. Blocksize limit is not an imperative bug fix target; and HF scaling is not necessarily good for everyone, at least it raise the bar to run a full node.
4) Landscape of interests: I’m saying the interests and decision-making patterns of all parties in the system (miners, corps, users, investors, devs) stay the same, not that all interests should remain the same. HF scaling produces no change to the original running mechanism, so the landscape does not change. Even if ETH forked into 2, their interests are in the same old landscape and an Alt relationship between each other. [reply] You are not aware of the dangers and harms of a split ecosystem. You should read some other articles first. A split is not just about simply see another Alt, it’s overwhelming.
END
Thanks for our translator David.
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FAQ

FRESH UPDATE FROM AUGUST 24TH
What is Cindicator? Cindicator is a fintech company that creates the social and technological infrastructure needed to make effective decisions under volatile conditions of the new economy. By combining a large number of diverse financial analysts and a set of machine-learning models into a single system, we are developing a Hybrid Intelligence infrastructure for the efficient management of investors' capital in traditional financial and crypto-markets.
How does it work? 1. Cindicator creates questions in the mobile app. 2. Forecasters make their prediction on the daily basis, answering a number of specific questions about price levels of different financial assets, macroeconomic indexes, and events significantly influencing the market. 3. Right after the question closed (deadline), the artificial intelligence system synthesizes accurate forecasts using machine learning algorithms based on the accumulated statistics predicted by forecasters. Machine learning models dynamically calculate various weights for each forecaster, identify stable systematics in their errors and calculate corrections for the errors, eliminate noise, and generate final predictions and trading signals.
Are there any Cindicator products already completed? Yes, there are several products that already completed and ready to use. They include: collective intelligence platform (Cindicator app for Android, iOS), trading signals, API for hedge funds price-related signals, probabilistic signals, and arbitrage bots.
What is Cindicator app? Cindicator app is the mobile platform that we launched in December 2015 and where thousands of analysts generate various forecasts daily, answering a number of specific questions, for example:
Create a forecast of the minimum and maximum price levels of Bitcoin for the upcoming seven days. Will the Tesla stock price surge to $345 during the market hours on Friday? Will the U.S. unemployment rate be greater than or equal to 4.5%, according to the June 2 report? Will Bancor collect more than $100M during the first week of ICO? What is the probability of Trump’s impeachment during the following three months?
What is the problem Cindicator is solving? The main problem in current financial analytics is centralisation. This is because analysts cluster their forecasts and opinions in open access and these opinions impact upon the opinions of other analysts.
Decentralization is one of the many necessary characteristics we are working on in the context of the wisdom of the crowd. Figuratively speaking, the suggestion of each unique person contains two types of information: useful signal and unique chaotic noise. Cindicator cuts through this centralization bias by aggregating opinion from a wide range of diverse forecasters from different countries with different professional backgrounds, with different personal experience. After we combine lots of such different suggestions, we have useful signal amplification, and noises mutually cancel each other as they are quite unique and random. When people don’t discuss the problem before making a suggestion they are unlikely to include alien biases into suggestions and keep the uniqueness of their subjectivity – their personal noise, so the sum of noises will go to zero and the signal becomes accurate.
Why does Cindicator need the issuance of our own infrastructure tokens? The issuance of our own infrastructure tokens is conditioned by the need to create an internal economy in the ecosystem that will establish transparent and fair relations among all participants making up the system: forecasters/analysts, traders, financial investors, data scientists, and the Cindicator team.
What the name of the token? Can I mine Cindicator tokens? The token is also called Cindicator (CND). Unlike proof-of-work blockchains such as Bitcoin, there is no mining in Cindicator.
What are Cindicator tokens? Cindicator tokens are ERC-20 compatible tokens distributed on the Ethereum blockchain pursuant to a related ERC-20 smart contract (the “CND Tokens”).
How can I participate in Cindicator Token distribution? To participate in Cindicator Token distribution, you will need any Ethereum compatible wallet or an application where you and only you hold the private keys. Private keys are needed to correctly interact with smart contract functions, like transferring cryptographic tokens. Do not send ether (“ETH”) directly from cryptocurrency exchanges, only an ETH compatible wallet.
Is there a pre-sale? Yes, we are working on the White list now and will announce the terms of presale by the end of August. You can subscribe to our newsletter to receive the information about pre-sale first.
What purchase methods will be accepted during the token sale? BTC, ETH. During the White List Stage it is only ETH.
Is there a minimum purchase for Cindicator Tokens during the token sale? The minimum contribution accepted during CND token sale is 0.0005 BTC or 0.01 ETH. Smaller contribution amounts will be rejected.
Why people from PRC, Singapore and USA are not allowed to buy Cindicator tokens? Due to legal reasons we can’t offer CND tokens for citizens and permanent residents of Singapore; citizens, permanent residents and owners of primary residence or domicile in the United States of America (including Puerto Rico, U.S. Virgin Islands or any other U.S. possessions); Citizens and permanent residents of the People's Republic of China are also excluded from our Token Sale and can not buy our tokens.
If your signals are so valuable, why wouldn’t you use them only for yourself for trading? The answer is that simple: we are a technological company and specialize in the Hybrid Intelligence technologies. We create infrastructure and products based on it, and those products, infrastructure and data they yield can be used by hedge-funds or other companies with financial expertise. This way it’s a mutually beneficial business. We don't want to try entering completely different field of the big finance. In other words, the same question can be addressed to the Bloomberg, for example. To be exactly accurate - we do use our signals for our own good - but this is a very small part of Cindicator business model.
Which products can I access as a Token holder? By buying tokens, CND token holders will get exclusive access to part of the Hybrid Intelligence infrastructure being developed. Holders of CND infrastructure tokens will receive a different level of access to Cindicator’s indicators, ratings, and internal analytical products. Token holders will be able to access the following parts of the infrastructure: indicators of traditional markets and crypto-markets (the probability of the rise or fall of asset prices, the probability of beating consensus in corporate and macroeconomic events, indicators certain price levels being reached, and indicators of the probability of significant events influencing the market); auxiliary service products for trading (Telegram and Slack bots, notifiers, and portfolio monitoring products); analytical products (ICO ratings, market condition analysis, ICO due diligence, and investor portfolio analysis); market indices and sentiments generated by Hybrid Intelligence.
Will your signals still provide value if many people can gain access to them? The fact that token holders can use data from the analytical infrastructure products will not affect the value of the data received from Hybrid Intelligence, since each indicator or index is not an unambiguous trading signal, but only an additional metric in the market that helps analyse an investment decision. These data and analytical products will assist token holders and make the ecosystem transparent. A part of the infrastructure intended to be directly used in capital management (by traders' teams, machine-learning models, and trading strategies) will remain in the centralized part of the system. This is necessary in order to make sure that Hybrid Intelligence can be used most efficiently on the next stage, when interested funds will be provided with access to the entire infrastructure (for more detailed information, please, see White Paper Section 4.6).
Cindicator - just another Prediction Market? Cindicator is not a prediction market. We are different in infrastructure, goals and business model: We enhance collective intelligence of our forecasters with Artificial Intelligence. Prediction markets usually just gather opinions. We aim at creating Hybrid intelligence - an effective combination of human mind and machine intelligence. Prediction markets aim at making correct predictions. We create products for financial markets: not only forecasts and signals, but also strategies, indices, sentiments, trading bots and tools, SaaS products. Thus our clients and source of income are financial markets’ players. Prediction markets focus on predictions - and for many of them analytics are important part of cash inflow. We on the other hand have never made or plan to make our forecasters risk their own money.
Is Cindicator just another trading signal provider? No, Cindicator is a technological ecosystem that also creates a number of products for traders and hedge funds. Cindicator’s ultimate goal is to set up a decentralized intellectual technology that effectively implements the potential of Hybrid Intelligence for the benefit of all participants of the ecosystem. In the future the technology strives to be fully automated: the only resource necessary for it to function will be the mental investment by the analysts.
Is the crowd able to give reliable predictions? Usually we don’t expect crowd to be wise. However, crowd doesn’t necessarily mean chaotic and impulsive mass. In case of Cindicator, “the crowd” consists of independent financial analysts from all corners of the Earth. We could call it a consensus - yet the word we use refers to a well-known concept called “Wisdom of the crowds”. A famous example: in 1906, British scientist Francis Galton came to a rural fair where visitors were invited to guess the weight of a bull put on public display and to write this figure on a special ticket just for entertainment. Organizers of that show promised prizes for those who managed to guess a true figure. Thus, about 800 people - some of them professional farmers, others far from pastoral matters - took part in the voting. After collecting all the tickets for analysis after the fair, Galton calculated the average arithmetic value from the entire sample: 1197 pounds. The actual weight of the bull was 1198 pounds. Astonishing result, isn’t it? In order to make “Wisdom of the crowds” work, a few things must be secured: Analytics must look at the situation independently and provide answer privately - because otherwise they risk to become influenced by some opinion and produce biased results Group of people must be large. The more people - the more accurate their consensus is. Questions must be formulated in quantitative way.
Watch a 5-mins video where BBC's professor Marcus du Sautoy explains how a group of people know more than one individual: https://www.youtube.com/watch?v=iOucwX7Z1HU
Have you acquired investments already? Cindicator has already acquired around $570,000 of investments from angels and venture funds. We also got $140,000 worth grants for technologies from Microsoft, Facebook and Amazon.
How experienced your team is? The Cindicator team has been created by a synergy of like-minded people with a variety of expertise in maths, data science and finances working together with one collective mind. About 85% of the team members are graduates of top STEM universities We understand the value of building the right Team, Community, and Ecosystem. We are actively expanding the scientific community around our infrastructure, business and ecosystem giving access to our work and technologies so we can act together to solve important and relevant problems.
Cindicator have a strong advisory board:
Charlie Shrem - Chief Operating Officer at Jaxx.io, Founder of Bitcoin Foundation
Anthony Diiorio - CEO and Founder at Decentral and Jaxx, Founder at Ethereum
Reese Jones - Associate Founder at Singularity University
Etienne Brunet - Investment Executive at Illuminate Financial
Simone Giacomelli - Founder at Vulpem
Stepan Gershuni - General partner at bits.capital
Anton Govor - Managing Director, Head of Strategy at Moscow Exchange
Andrei Rusakov - Partner, co-founder at Data Capital Management
Julian Zegelman - Corporate Attorney, Partner at Velton, Zegelman PC
Roman Storm - Blockchain and Solidity developer at blockchainlabs.nz
What does Cindicator stand for? Crowd Indicator: we refer to the famous “Wisdom of the crowds” concept. In a nutshell: it means that group of people is more likely to provide right answer than an individual. Hence, crowd indicator - an indicator of collective intelligence.
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