Explain it like I'm Five - Bitcoin Mining Difficulty Level

A theory of why Ethereum is perhaps better "sound money" than Bitcoin.

The idea of Bitcoin's supremacy as "sound money" is very frequently thrown around by the biggest talking heads in the crypto world. I know I will get a lot of hate for suggesting that this theory is not only flawed, but it is straight up wrong. As unintuitive as it may sound to Bitcoin maximalists (no offense intended) I believe Ethereum is on the path to becoming the global leading asset and model for sound money... give me a chance to explain why.

  1. The idea that nothing can change Bitcoin's issuance schedule is a myth. There is absolutely no divine power controlling the supply of Bitcoin. Contrary to what is commonly asserted, Bitcoin's issuance protocol is not primarily driven by what is currently implemented. The real driver is consensus: the majority of network participants must agree that what is currently defined cannot be changed. There is an underlying assumption that the consensus would never want to change Bitcoin's issuance. On the surface this makes for a nice "sound money" narrative, but it is false premise and sticking to it could be ultimately detrimental. It presents a long term sustainability issue (the hope that somehow Bitcoin's base layer will scale enough to maintain security entirely through fees). It also completely dismisses the possibility that an unforeseen event could create pressure to change the issuance. If Bitcoin managed to create a consensus mechanism that did not rely on mining, it is very likely there would be consensus to reduce issuance. On the other hand, if some potentially catastrophic event would create incentives to increase the issuance, it would only make sense for the network to do so.
  2. Issuance flexibility is not fundamentally bad. Etheruem's approach to adjust the issuance according to the contextual circumstances has resulted in a faster rate of issuance reduction than what was originally defined in the protocol. The rate of issuance will continue to decrease as new developments allow for it to happen without compromising the network security. There is a very high probability that Ethereum will achieve a lower issuance rate than Bitcoin in the next two years, and it could possibly achieve zero issuance in the next five years. This would be a result of a successful implementation of PoS, sharding and EIP-1559.
  3. The root of all evil is Proof of Work. PoW is by far the primary cost of operating the Bitcoin network. It is the primary determinant of how much issuance is needed as a financial incentive to keep miners doing their thing. The very mechanism that secures the network's decentralization is unfortunately quite wasteful. The degree of decentralization is a direct result of how much random mathematical operations are being done by miners.
  4. There is a better way. Some people will take offense by the use of the word wasteful, and they claim that it is not because those mindless calculations are what is actually securing the network. However, its wasteful aspect becomes clear if there is a different way to achieve equal or superior decentralization without the need to crunch difficult computational problems. This just so happens to be embodied in Ethereum's design of Proof of Stake. It will drastically reduce the cost of securing the network, while providing at least 2-3% annual returns for the ownership of Ether. When Ethereum's issuance becomes lower than its staking rewards, it will effectively have achieved the same effect as having zero (or possibly negative) issuance.
  5. The value proposition of Ethereum 2.0 is unmatched. There is just absolutely no asset in the world that has a 2-3% self-denominated annual returns and just so happens to be rapidly appreciating. When wall-street's greed sees this, it will create the mother of all bubbles.
  6. Don't dismiss the flippening. On February 01 2018 Ethereum reached 70% of Bitcoin's marked cap (it was even closer if you account for the amount of lost bitcoins). That happened before DEFI, before proof of staking was within reach, before multiple effective layer 2 solutions were a thing, before wrapped Bitcoins and before the first signs of mass adoption were on the horizon (like integration with Reddit , VISA and potential to compete with SWIFT). Utility is a huge factor in driving prices, lets not forget how Silk Road played a key role into propelling Bitcoin's value. Yes, Ethereum crashed hard after the peak in 2018, but perhaps it is simply manifesting a higher volatility pattern that is reminiscent of Bitcoin's early years. Bitcoin's first 5 years were characterized by aggressive price swings, why should it be different for Etheruem (considering it is about 5 years younger than Bitcoin)? If the volatility patterns stands on this bull market, we will see a flippening.
So... do I think Etheruem will flip? Yes I do, but I still hold Bitcoin. No one has a crystal ball, and nothing is certain. Perhaps Etheruem will crash and burn, perhaps Bitcoin will become the next Yahoo, and perhaps they will both thrive in this new exciting crypto world.
submitted by TheWierdGuy to ethereum [link] [comments]

How EpiK Protocol “Saved the Miners” from Filecoin with the E2P Storage Model?

How EpiK Protocol “Saved the Miners” from Filecoin with the E2P Storage Model?

https://preview.redd.it/n5jzxozn27v51.png?width=2222&format=png&auto=webp&s=6cd6bd726582bbe2c595e1e467aeb3fc8aabe36f
On October 20, Eric Yao, Head of EpiK China, and Leo, Co-Founder & CTO of EpiK, visited Deep Chain Online Salon, and discussed “How EpiK saved the miners eliminated by Filecoin by launching E2P storage model”. ‘?” The following is a transcript of the sharing.
Sharing Session
Eric: Hello, everyone, I’m Eric, graduated from School of Information Science, Tsinghua University. My Master’s research was on data storage and big data computing, and I published a number of industry top conference papers.
Since 2013, I have invested in Bitcoin, Ethereum, Ripple, Dogcoin, EOS and other well-known blockchain projects, and have been settling in the chain circle as an early technology-based investor and industry observer with 2 years of blockchain experience. I am also a blockchain community initiator and technology evangelist
Leo: Hi, I’m Leo, I’m the CTO of EpiK. Before I got involved in founding EpiK, I spent 3 to 4 years working on blockchain, public chain, wallets, browsers, decentralized exchanges, task distribution platforms, smart contracts, etc., and I’ve made some great products. EpiK is an answer to the question we’ve been asking for years about how blockchain should be landed, and we hope that EpiK is fortunate enough to be an answer for you as well.
Q & A
Deep Chain Finance:
First of all, let me ask Eric, on October 15, Filecoin’s main website launched, which aroused everyone’s attention, but at the same time, the calls for fork within Filecoin never stopped. The EpiK protocol is one of them. What I want to know is, what kind of project is EpiK Protocol? For what reason did you choose to fork in the first place? What are the differences between the forked project and Filecoin itself?
Eric:
First of all, let me answer the first question, what kind of project is EpiK Protocol.
With the Fourth Industrial Revolution already upon us, comprehensive intelligence is one of the core goals of this stage, and the key to comprehensive intelligence is how to make machines understand what humans know and learn new knowledge based on what they already know. And the knowledge graph scale is a key step towards full intelligence.
In order to solve the many challenges of building large-scale knowledge graphs, the EpiK Protocol was born. EpiK Protocol is a decentralized, hyper-scale knowledge graph that organizes and incentivizes knowledge through decentralized storage technology, decentralized autonomous organizations, and generalized economic models. Members of the global community will expand the horizons of artificial intelligence into a smarter future by organizing all areas of human knowledge into a knowledge map that will be shared and continuously updated for the eternal knowledge vault of humanity
And then, for what reason was the fork chosen in the first place?
EpiK’s project founders are all senior blockchain industry practitioners and have been closely following the industry development and application scenarios, among which decentralized storage is a very fresh application scenario.
However, in the development process of Filecoin, the team found that due to some design mechanisms and historical reasons, the team found that Filecoin had some deviations from the original intention of the project at that time, such as the overly harsh penalty mechanism triggered by the threat to weaken security, and the emergence of the computing power competition leading to the emergence of computing power monopoly by large miners, thus monopolizing the packaging rights, which can be brushed with computing power by uploading useless data themselves.
The emergence of these problems will cause the data environment on Filecoin to get worse and worse, which will lead to the lack of real value of the data in the chain, high data redundancy, and the difficulty of commercializing the project to land.
After paying attention to the above problems, the project owner proposes to introduce multi-party roles and a decentralized collaboration platform DAO to ensure the high value of the data on the chain through a reasonable economic model and incentive mechanism, and store the high-value data: knowledge graph on the blockchain through decentralized storage, so that the lack of value of the data on the chain and the monopoly of large miners’ computing power can be solved to a large extent.
Finally, what differences exist between the forked project and Filecoin itself?
On the basis of the above-mentioned issues, EpiK’s design is very different from Filecoin, first of all, EpiK is more focused in terms of business model, and it faces a different market and track from the cloud storage market where Filecoin is located because decentralized storage has no advantage over professional centralized cloud storage in terms of storage cost and user experience.
EpiK focuses on building a decentralized knowledge graph, which reduces data redundancy and safeguards the value of data in the distributed storage chain while preventing the knowledge graph from being tampered with by a few people, thus making the commercialization of the entire project reasonable and feasible.
From the perspective of ecological construction, EpiK treats miners more friendly and solves the pain point of Filecoin to a large extent, firstly, it changes the storage collateral and commitment collateral of Filecoin to one-time collateral.
Miners participating in EpiK Protocol are only required to pledge 1000 EPK per miner, and only once before mining, not in each sector.
What is the concept of 1000 EPKs, you only need to participate in pre-mining for about 50 days to get this portion of the tokens used for pledging. The EPK pre-mining campaign is currently underway, and it runs from early September to December, with a daily release of 50,000 ERC-20 standard EPKs, and the pre-mining nodes whose applications are approved will divide these tokens according to the mining ratio of the day, and these tokens can be exchanged 1:1 directly after they are launched on the main network. This move will continue to expand the number of miners eligible to participate in EPK mining.
Secondly, EpiK has a more lenient penalty mechanism, which is different from Filecoin’s official consensus, storage and contract penalties, because the protocol can only be uploaded by field experts, which is the “Expert to Person” mode. Every miner needs to be backed up, which means that if one or more miners are offline in the network, it will not have much impact on the network, and the miner who fails to upload the proof of time and space in time due to being offline will only be forfeited by the authorities for the effective computing power of this sector, not forfeiting the pledged coins.
If the miner can re-submit the proof of time and space within 28 days, he will regain the power.
Unlike Filecoin’s 32GB sectors, EpiK’s encapsulated sectors are smaller, only 8M each, which will solve Filecoin’s sector space wastage problem to a great extent, and all miners have the opportunity to complete the fast encapsulation, which is very friendly to miners with small computing power.
The data and quality constraints will also ensure that the effective computing power gap between large and small miners will not be closed.
Finally, unlike Filecoin’s P2P data uploading model, EpiK changes the data uploading and maintenance to E2P uploading, that is, field experts upload and ensure the quality and value of the data on the chain, and at the same time introduce the game relationship between data storage roles and data generation roles through a rational economic model to ensure the stability of the whole system and the continuous high-quality output of the data on the chain.
Deep Chain Finance:
Eric, on the eve of Filecoin’s mainline launch, issues such as Filecoin’s pre-collateral have aroused a lot of controversy among the miners. In your opinion, what kind of impact will Filecoin bring to itself and the whole distributed storage ecosystem after it launches? Do you think that the current confusing FIL prices are reasonable and what should be the normal price of FIL?
Eric:
Filecoin mainnet has launched and many potential problems have been exposed, such as the aforementioned high pre-security problem, the storage resource waste and computing power monopoly caused by unreasonable sector encapsulation, and the harsh penalty mechanism, etc. These problems are quite serious, and will greatly affect the development of Filecoin ecology.
These problems are relatively serious, and will greatly affect the development of Filecoin ecology, here are two examples to illustrate. For example, the problem of big miners computing power monopoly, now after the big miners have monopolized computing power, there will be a very delicate state — — the miners save a file data with ordinary users. There is no way to verify this matter in the chain, whether what he saved is uploaded by himself or someone else. And after the big miners have monopolized computing power, there will be a very delicate state — — the miners will save a file data with ordinary users, there is no way to verify this matter in the chain, whether what he saved is uploaded by himself or someone else. Because I can fake another identity to upload data for myself, but that leads to the fact that for any miner I go to choose which data to save. I have only one goal, and that is to brush my computing power and how fast I can brush my computing power.
There is no difference between saving other people’s data and saving my own data in the matter of computing power. When I save someone else’s data, I don’t know that data. Somewhere in the world, the bandwidth quality between me and him may not be good enough.
The best option is to store my own local data, which makes sense, and that results in no one being able to store data on the chain at all. They only store their own data, because it’s the most economical for them, and the network has essentially no storage utility, no one is providing storage for the masses of retail users.
The harsh penalty mechanism will also severely deplete the miner’s profits, because DDOS attacks are actually a very common attack technique for the attacker, and for a big miner, he can get a very high profit in a short period of time if he attacks other customers, and this thing is a profitable thing for all big miners.
Now as far as the status quo is concerned, the vast majority of miners are actually not very well maintained, so they are not very well protected against these low-DDOS attacks. So the penalty regime is grim for them.
The contradiction between the unreasonable system and the demand will inevitably lead to the evolution of the system in a more reasonable direction, so there will be many forked projects that are more reasonable in terms of mechanism, thus attracting Filecoin miners and a diversion of storage power.
Since each project is in the field of decentralized storage track, the demand for miners is similar or even compatible with each other, so miners will tend to fork the projects with better economic benefits and business scenarios, so as to filter out the projects with real value on the ground.
For the chaotic FIL price, because FIL is also a project that has gone through several years, carrying too many expectations, so it can only be said that the current situation has its own reasons for existence. As for the reasonable price of FIL there is no way to make a prediction because in the long run, it is necessary to consider the commercialization of the project to land and the value of the actual chain of data. In other words, we need to keep observing whether Filecoin will become a game of computing power or a real value carrier.
Deep Chain Finance:
Leo, we just mentioned that the pre-collateral issue of Filecoin caused the dissatisfaction of miners, and after Filecoin launches on the main website, the second round of space race test coins were directly turned into real coins, and the official selling of FIL hit the market phenomenon, so many miners said they were betrayed. What I want to know is, EpiK’s main motto is “save the miners eliminated by Filecoin”, how to deal with the various problems of Filecoin, and how will EpiK achieve “save”?
Leo:
Originally Filecoin’s tacit approval of the computing power makeup behavior was to declare that the official directly chose to abandon the small miners. And this test coin turned real coin also hurt the interests of the loyal big miners in one cut, we do not know why these low-level problems, we can only regret.
EpiK didn’t do it to fork Filecoin, but because EpiK to build a shared knowledge graph ecology, had to integrate decentralized storage in, so the most hardcore Filecoin’s PoRep and PoSt decentralized verification technology was chosen. In order to ensure the quality of knowledge graph data, EpiK only allows community-voted field experts to upload data, so EpiK naturally prevents miners from making up computing power, and there is no reason for the data that has no value to take up such an expensive decentralized storage resource.
With the inability to make up computing power, the difference between big miners and small miners is minimal when the amount of knowledge graph data is small.
We can’t say that we can save the big miners, but we are definitely the optimal choice for the small miners who are currently in the market to be eliminated by Filecoin.
Deep Chain Finance:
Let me ask Eric: According to EpiK protocol, EpiK adopts the E2P model, which allows only experts in the field who are voted to upload their data. This is very different from Filecoin’s P2P model, which allows individuals to upload data as they wish. In your opinion, what are the advantages of the E2P model? If only voted experts can upload data, does that mean that the EpiK protocol is not available to everyone?
Eric:
First, let me explain the advantages of the E2P model over the P2P model.
There are five roles in the DAO ecosystem: miner, coin holder, field expert, bounty hunter and gateway. These five roles allocate the EPKs generated every day when the main network is launched.
The miner owns 75% of the EPKs, the field expert owns 9% of the EPKs, and the voting user shares 1% of the EPKs.
The other 15% of the EPK will fluctuate based on the daily traffic to the network, and the 15% is partly a game between the miner and the field expert.
The first describes the relationship between the two roles.
The first group of field experts are selected by the Foundation, who cover different areas of knowledge (a wide range of knowledge here, including not only serious subjects, but also home, food, travel, etc.) This group of field experts can recommend the next group of field experts, and the recommended experts only need to get 100,000 EPK votes to become field experts.
The field expert’s role is to submit high-quality data to the miner, who is responsible for encapsulating this data into blocks.
Network activity is judged by the amount of EPKs pledged by the entire network for daily traffic (1 EPK = 10 MB/day), with a higher percentage indicating higher data demand, which requires the miner to increase bandwidth quality.
If the data demand decreases, this requires field experts to provide higher quality data. This is similar to a library with more visitors needing more seats, i.e., paying the miner to upgrade the bandwidth.
When there are fewer visitors, more money is needed to buy better quality books to attract visitors, i.e., money for bounty hunters and field experts to generate more quality knowledge graph data. The game between miners and field experts is the most important game in the ecosystem, unlike the game between the authorities and big miners in the Filecoin ecosystem.
The game relationship between data producers and data storers and a more rational economic model will inevitably lead to an E2P model that generates stored on-chain data of much higher quality than the P2P model, and the quality of bandwidth for data access will be better than the P2P model, resulting in greater business value and better landing scenarios.
I will then answer the question of whether this means that the EpiK protocol will not be universally accessible to all.
The E2P model only qualifies the quality of the data generated and stored, not the roles in the ecosystem; on the contrary, with the introduction of the DAO model, the variety of roles introduced in the EpiK ecosystem (which includes the roles of ordinary people) is not limited. (Bounty hunters who can be competent in their tasks) gives roles and possibilities for how everyone can participate in the system in a more logical way.
For example, a miner with computing power can provide storage, a person with a certain domain knowledge can apply to become an expert (this includes history, technology, travel, comics, food, etc.), and a person willing to mark and correct data can become a bounty hunter.
The presence of various efficient support tools from the project owner will lower the barriers to entry for various roles, thus allowing different people to do their part in the system and together contribute to the ongoing generation of a high-quality decentralized knowledge graph.
Deep Chain Finance:
Leo, some time ago, EpiK released a white paper and an economy whitepaper, explaining the EpiK concept from the perspective of technology and economy model respectively. What I would like to ask is, what are the shortcomings of the current distributed storage projects, and how will EpiK protocol be improved?
Leo:
Distributed storage can easily be misunderstood as those of Ali’s OceanDB, but in the field of blockchain, we should focus on decentralized storage first.
There is a big problem with the decentralized storage on the market now, which is “why not eat meat porridge”.
How to understand it? Decentralized storage is cheaper than centralized storage because of its technical principle, and if it is, the centralized storage is too rubbish for comparison.
What incentive does the average user have to spend more money on decentralized storage to store data?
Is it safer?
Existence miners can shut down at any time on decentralized storage by no means save a share of security in Ariadne and Amazon each.
More private?
There’s no difference between encrypted presence on decentralized storage and encrypted presence on Amazon.
Faster?
The 10,000 gigabytes of bandwidth in decentralized storage simply doesn’t compare to the fiber in a centralized server room. This is the root problem of the business model, no one is using it, no one is buying it, so what’s the big vision.
The goal of EpiK is to guide all community participants in the co-construction and sharing of field knowledge graph data, which is the best way for robots to understand human knowledge, and the more knowledge graph data there is, the more knowledge a robot has, the more intelligent it is exponentially, i.e., EpiK uses decentralized storage technology. The value of exponentially growing data is captured with linearly growing hardware costs, and that’s where the buy-in for EPK comes in.
Organized data is worth a lot more than organized hard drives, and there is a demand for EPK when robots have the need for intelligence.
Deep Chain Finance:
Let me ask Leo, how many forked projects does Filecoin have so far, roughly? Do you think there will be more or less waves of fork after the mainnet launches? Have the requirements of the miners at large changed when it comes to participation?
Leo:
We don’t have specific statistics, now that the main network launches, we feel that forking projects will increase, there are so many restricted miners in the market that they need to be organized efficiently.
However, we currently see that most forked projects are simply modifying the parameters of Filecoin’s economy model, which is undesirable, and this level of modification can’t change the status quo of miners making up computing power, and the change to the market is just to make some of the big miners feel more comfortable digging up, which won’t help to promote the decentralized storage ecology to land.
We need more reasonable landing scenarios so that idle mining resources can be turned into effective productivity, pitching a 100x coin instead of committing to one Fomo sentiment after another.
Deep Chain Finance:
How far along is the EpiK Protocol project, Eric? What other big moves are coming in the near future?
Eric:
The development of the EpiK Protocol is divided into 5 major phases.
(a) Phase I testing of the network “Obelisk”.
Phase II Main Network 1.0 “Rosetta”.
Phase III Main Network 2.0 “Hammurabi”.
(a) The Phase IV Enrichment Knowledge Mapping Toolkit.
The fifth stage is to enrich the knowledge graph application ecology.
Currently in the first phase of testing network “Obelisk”, anyone can sign up to participate in the test network pre-mining test to obtain ERC20 EPK tokens, after the mainnet exchange on a one-to-one basis.
We have recently launched ERC20 EPK on Uniswap, you can buy and sell it freely on Uniswap or download our EpiK mobile wallet.
In addition, we will soon launch the EpiK Bounty platform, and welcome all community members to do tasks together to build the EpiK community. At the same time, we are also pushing forward the centralized exchange for token listing.
Users’ Questions
User 1:
Some KOLs said, Filecoin consumed its value in the next few years, so it will plunge, what do you think?
Eric:
First of all, the judgment of the market is to correspond to the cycle, not optimistic about the FIL first judgment to do is not optimistic about the economic model of the project, or not optimistic about the distributed storage track.
First of all, we are very confident in the distributed storage track and will certainly face a process of growth and decline, so as to make a choice for a better project.
Since the existing group of miners and the computing power already produced is fixed, and since EpiK miners and FIL miners are compatible, anytime miners will also make a choice for more promising and economically viable projects.
Filecoin consumes the value of the next few years this time, so it will plunge.
Regarding the market issues, the plunge is not a prediction, in the industry or to keep learning iteration and value judgment. Because up and down market sentiment is one aspect, there will be more very important factors. For example, the big washout in March this year, so it can only be said that it will slow down the development of the FIL community. But prices are indeed unpredictable.
User2:
Actually, in the end, if there are no applications and no one really uploads data, the market value will drop, so what are the landing applications of EpiK?
Leo: The best and most direct application of EpiK’s knowledge graph is the question and answer system, which can be an intelligent legal advisor, an intelligent medical advisor, an intelligent chef, an intelligent tour guide, an intelligent game strategy, and so on.
submitted by EpiK-Protocol to u/EpiK-Protocol [link] [comments]

Comparing Bitcoin to Investing Early in Apple, Google, Facebook, Amazon

The CEO of Nasdaq-listed billion-dollar company Microstrategy has made a strong bull case for bitcoin. He says there is a $250 trillion ocean of assets looking for the ideal store a value right now and bitcoin is a better store of value than gold or tech stocks, so “a lot of that monetary energy is going to flow from the asset ocean into the crypto pond.”

Comparing Bitcoin to Investing Early in Apple, Google, Facebook, Amazon

In a webcast with Hedgeye CEO Keith McCullough, aired last week, Microstrategy CEO Michael Saylor outlined a highly bullish case for bitcoin’s price. The Nasdaq-listed Microstrategy recently invested $425 million in bitcoin as its primary reserve asset.
Saylor began by explaining that he has always been a big tech investor. “The thing about technology is figuring out the thing that’s going to eat the world. If you’re right, own it, hold it, and wait,” he advised. The CEO gave the example of Apple, Google, Amazon, and Facebook, emphasizing repeatedly that it does not matter when you bought those tech stocks. “The truth of the matter is if you’d bought Google, Apple, Amazon, or Facebook at any point between 2010 and 2020 … I think it’s impossible to have lost money at any point for the decade … your investment mistake would be trying to time the market on those things.”
The Microstrategy CEO added: “Bitcoin is the first software network in the history of the world that can pull monetary energy, so these bitcoiners have figured out something that is really a thing of beauty and extraordinary value. They are pulling pure monetary energy on a network.” He elaborated:
"If I take $100 million and I put it into bitcoin, it could sit there for a decade like in a battery. It won’t bleed out. You’re not losing 2% to 4% a year and I can put it in the palm of my hand and I can move it around the planet for a few dollars in a few minutes and we have never in the history of the world figured that out."

Bitcoin Is Not So Volatile

One classic objection investors have to investing in bitcoin is its volatility. Speaking on the subject, Saylor said he has been looking at the volatility of different assets over the last three, four, and five months. He looked at 30-year Treasuries, 10-year Treasuries, the NASDAQ, the Russell 2000, gold, silver, Apple, Amazon, Facebook, Google, and more. After comparing their volatility to bitcoin, Saylor concluded:
"My unscientific view is on every single day at least half of those assets are more volatile than bitcoin. And on a lot of volatile days, I’ve seen 80% to 90% of them be more volatile than bitcoin."
“So I think there’s a historic narrative/belief. People think they know this is volatile but in fact, it’s not looking that volatile to me over the past three months. I don’t think over the next decade it’s going to have the same characteristics of volatility that it had over the last decade,” Saylor said.
The Microstrategy CEO proceeded to discuss how investors are using Apple’s stock as their store of value. “People are literally using Apple’s stock as a store of value because it’s deflationary. Apple is buying it back and they think Apple is not going anywhere and they’re desperate to flee [from] currency.” However, he pointed out that “Apple is more volatile than bitcoin for the past three months.”

Bitcoin Is a Better Store of Value than Apple’s Stock or Gold

Besides Apple’s stock, gold is still investors’ favorite store of value. However, Saylor explained that neither are as good as bitcoin as a store of value.
“The truth is Apple’s stock is not scarce. The executive team can and will eventually print more and if that doesn’t dilute you then they’ve got regulatory risk, competitive risk, [and] execution risk — a lot of moving parts … that’s why they’re not good over the long term,” he detailed. As for gold, he said: “if you put $100 million into gold and the gold miners print 2% to 3% more a year, let’s say 2% more, well, over 100 years you lose 88% of your purchasing power.”
The CEO explained that these stores of value worked in the past because there was no alternative. However, things have changed. “In the year 2020, you have a choice, you have a digital gold,” he declared. “They cannot make any more. Bitcoin miners are the friends of bitcoin owners. They’re not the enemy of bitcoin owners.” He explained that to store $100 million for 100 years, you will lose 85% of it under the best case if you put it in gold. “Under the likely case, you lose it all because the bank will fail, the country will fail, [or] somebody will seize it,” he claimed.
Saylor presented bitcoin as the best solution: “The reason that the bitcoin maximalists … are passionate and religious about this is because for the first time in human history you can take all of your wealth and your life force. You can put it into an asset. You can keep the keys. You can take custody of your million dollars, your hundred thousand dollars. No government, no bank can take it away from you. There’s nobody to tell you you can’t own your life force, and if you have hopes and aspirations for your family, for your religion, for your life, then you have the power to achieve those hopes and aspirations without asking the permission of a bank or a government or politician.”
The Microstrategy CEO then spoke about the trillions of dollars currently in alternative assets that function as stores of value, including gold, technology stocks, and bonds. He proclaimed:
THERE’S A $250 TRILLION OCEAN OF ASSETS. THEY ARE LOOKING FOR THE IDEAL STORE OF VALUE RIGHT NOW.
Maintaining that bitcoin is a better store of value than other assets he previously described, he emphasized: “bitcoin is digital gold. It’s better gold than gold and it’s a better store of value than big tech.” He believes that as investors understand this, “a lot of that monetary energy is going to flow from the asset ocean into the crypto pond and everybody that makes the transition is going to benefit.”
submitted by williamsouza10 to u/williamsouza10 [link] [comments]

A theory of why Ethereum is perhaps better "sound money" than Bitcoin.

The idea of Bitcoin's supremacy as "sound money" is very frequently thrown around by the biggest talking heads in the crypto world. I know I will get a lot of hate for suggesting that this theory is not only flawed, but it is straight up wrong. As unintuitive as it may sound to Bitcoin maximalists (no offense intended) I believe Ethereum is on the path to becoming the global leading asset and model for sound money... give me a chance to explain why.
  1. The idea that nothing can change Bitcoin's issuance schedule is a myth. There is absolutely no divine power controlling the supply of Bitcoin. Contrary to what is commonly asserted, Bitcoin's issuance protocol is not primarily driven by what is currently implemented. The real driver is consensus: the majority of network participants must agree that what is currently defined cannot be changed. There is an underlying assumption that the consensus would never want to change Bitcoin's issuance. On the surface this makes for a nice "sound money" narrative, but it is false premise and sticking to it could be ultimately detrimental. It presents a long term sustainability issue (the hope that somehow Bitcoin's base layer will scale enough to maintain security entirely through fees). It also completely dismisses the possibility that an unforeseen event could create pressure to change the issuance. If Bitcoin managed to create a consensus mechanism that did not rely on mining, it is very likely there would be consensus to reduce issuance. On the other hand, if some potentially catastrophic event would create incentives to increase the issuance, it would only make sense for the network to do so.
  2. Issuance flexibility is not fundamentally bad. Etheruem's approach to adjust the issuance according to the contextual circumstances has resulted in a faster rate of issuance reduction than what was originally defined in the protocol. The rate of issuance will continue to decrease as new developments allow for it to happen without compromising the network security. There is a very high probability that Ethereum will achieve a lower issuance rate than Bitcoin in the next two years, and it could possibly achieve zero issuance in the next five years. This would be a result of a successful implementation of PoS, sharding and EIP-1559.
  3. The root of all evil is Proof of Work. PoW is by far the primary cost of operating the Bitcoin network. It is the primary determinant of how much issuance is needed as a financial incentive to keep miners doing their thing. The very mechanism that secures the network's decentralization is unfortunately quite wasteful. The degree of decentralization is a direct result of how much random mathematical operations are being done by miners.
  4. There is a better way. Some people will take offense by the use of the word wasteful, and they claim that it is not because those mindless calculations are what is actually securing the network. However, its wasteful aspect becomes clear if there is a different way to achieve equal or superior decentralization without the need to crunch mathematical problems. This just so happens to be embodied in Ethereum's design of Proof of Stake. It will drastically reduce the cost of securing the network, while providing at least 2-3% annual returns for the ownership of Ether. When Ethereum's issuance becomes lower than its staking rewards, it will effectively have achieved the same effect as having zero (or possibly negative) issuance.
  5. The value proposition of Ethereum 2.0 is unmatched. There is just absolutely no asset in the world that has a 2-3% self-denominated annual returns and just so happens to be rapidly appreciating. When wall-street's greed sees this, it will create the mother of all bubbles.
  6. Don't dismiss the flippening. On February 01 2018 Ethereum reached 70% of Bitcoin's marked cap (it was even closer if you account for the amount of lost bitcoins). That happened before DEFI, before proof of staking was within reach, before multiple effective layer 2 solutions were a thing, before wrapped Bitcoins and before the first signs of mass adoption were on the horizon (like integration with Reddit , VISA and potential to compete with SWIFT). Utility is a huge factor in driving prices, lets not forget how Silk Road played a key role into propelling Bitcoin's value. Yes, Ethereum crashed hard after the peak in 2018, but perhaps it is simply manifesting a higher volatility pattern that is reminiscent of Bitcoin's early years. Bitcoin's first 5 years were characterized by aggressive price swings, why should it be different for Etheruem (considering it is about 5 years younger than Bitcoin)? If the volatility patterns stands on this bull market, we will see a flippening.
So... do I think Etheruem will flip? Yes I do, but I still hold Bitcoin. No one has a crystal ball, and nothing is certain. Perhaps Etheruem will crash and burn, perhaps Bitcoin will become the next Yahoo, and perhaps they will both thrive in this new exciting crypto world.
submitted by TheWierdGuy to CryptoCurrency [link] [comments]

the year 2020 in Bitcoin Cash so far: a detailed history

the year 2020 in Bitcoin Cash so far: a detailed history
What follows at the bottom is a four page long chronological overview of what happened in BCH in 2020 so far. To make it more digestable and fun to read I start with my narrating of the story.
My attempt was to remain as objective as possible and "let the facts speak for themselve" with everything sourced. I also link to many read.cash articles, the decision of which are the important ones to include is certainly not easy, I count on the rest of the community if I overlooked anything important.

summary & my narrating of the story:
The year started out relatively calm, with cashfusion in "the news" and an older ongoing controversy between Amaury and Roger Ver being worked out. Starting Jan 22nd all debate broke loose with the announcement of “Infrastructure Funding Plan for Bitcoin Cash” by Jiang Zhuoer of BTC.TOP. To illustrate this point 2 days later coinspice ran the title " Roger Ver Praises Vigorous Debate, [...]" and 6 days, less than a week, later Chris Pacia made a read.cash post titled "The 253rd "Thoughts on developer funding" Article" which might have been only a slight exaggeration or he might have been counting. Part of the reason of the tsunami was the lack of worked out details. By the time of Pacia's post a lot had changed: Both BU, Bitcoin Verde and a group of miners had made announcements not to go along with "the plan".
On feb 1st, the second version of the IFP was announced by Jiang Zhuoer in a post “BCH miner donation plan update”. Two weeks later on Feb 15th, the third iteration was announced by Bitcoin ABC which was to be activated by hashrate voting and on the same day Flipstarter was introduced, a sign of the search for alternative solutions. After a few more days and a few more people coming out more against the IFP (including Jonald Fyookball, Mark Lundeberg & Josh Ellithorpe), BCHN was announced on feb 20th with a formal release a week later. Also feb 27th, the DAA was brought back into the conversation by Jonathan Toomim with his " The BCH difficulty adjustment algorithm is broken. Here's how to fix it." video. By early march the IFP was effectively dead with its author Jiang Zhuoer vowing to vote against it. This became clear to everyone when ABC, a day later sudddenly shifted gears towards non-protocol, donation based funding: the IFP was dead. End march ABCs 2020 Business Plan was announced as a way to raise $3.3 million. Mid april to mid may was the high time for voluntary funding with four node implementations and General Protocols, a BCH DeFi Startup successfully raising funds.
By May 15th, the 6th HF network upgrade things had pretty much cooled down. The upgraded included nothing controversial and even saw an unexpected doubling in the unconfirmed transaction chain. June 15th a month later things started to heat up again with the BCHN announcement to remove the "poison pill" or "automatic replay protection". 8th Jul Jonathan Toomim posted "BCH protocol upgrade proposal: Use ASERT as the new DAA" which promised the solution to the long dragging DAA problem. Jul 23th however an unexpected twist occurred when Amaury Séchet posted "Announcing the Grasberg DAA" an incompatible, alternative solution. This, again, sparked a ton of debate and discussion. Grasberg lasted just two weeks from Jul 23th to Aug 6th when ABC announced its plans for the november 2020 upgrade but it had successfully united the opposition in the meanwhile. ABCs plan for november included dropping grasberg in favour of aserti3–2d and introducing IFPv4. Now we're here August 8th, the IFP which was declared dead after just over a month (Jan 22-Mar 5) is now back in full force. The rest of the history is still being written but if p2p electronic cash is to succeed in any big regard it's very thinkable that these events will get into history books.

Important resources: coinspice IFP timeline & Compiled list of BCH Miner Dev Fund posts, articles, discussions

History
Jan 13th : “Do CoinJoins Really Require Equal Transaction Amounts for Privacy? Part One: CashFusion” article by BitcoinMagazine [source]
Jan 13th : “Clearing the Way for Cooperation” Read.cash article by Amaury Séchet [source] on the controversy with Roger Ver about the amount of donations over the years
Jan 22nd : “Infrastructure Funding Plan for Bitcoin Cash” IFPv1 announced by Jiang Zhuoer of BTC.TOP [source] IFPv1: 12.5% of BCH coinbase rewards which will last for 6 months through a Hong Kong-based corporation & to be activated on May 15th
Jan 22nd : ”Bitcoin Cash Developers React to Infrastructure Fund Announcement: Cautiously Optimistic” coinspice article including Amaury Séchet, Antony Zegers, Jonald Fyookball & Josh Ellithorpe [source]
Jan 23rd : Jiang Zhuoer reddit AMA [source] [coinspice article]
Jan 23rd : Vitalik weighs in with his take on twitter [source]
Jan 23rd :” On the infrastructure funding plan for Bitcoin Cash” article by Amaury Séchet [source] [coinspice article] in which he proposed to place control of the IFP key in his hands together with Jonald Fyookball and Antony Zegers. . A group of 7 to 12 miners, developers, and businessmen in total would get an advisory function.
Jan 24th : “Bitcoin.com's Clarifications on the Miner Development Fund“ which emphasizes, among other things, the temporary and reversible nature of the proposal [source] [coinspice article]
Jan 24th : “Little Known (But Important!) Facts About the Mining Plan” Read.cash article by Jonald Fyookball in which he defended the IFP and stressed its necessity and temporary nature.
Jan 25th : massive amounts of public debate as documented by coinspice [coinspice article] with Justin Bons, Tobias Ruck and Antony Zegers explaining their take on it.
Jan 26th : public debate continues: “Assessment and proposal re: the Bitcoin Cash infrastructure funding situation” Read.cash article by imaginary_username [source] which was noteworthy in part because the post earned over Earns $1,000+ in BCH [coinspice article] and “The Best Of Intentions: The Dev Tax Is Intended to Benefit Investors But Will Corrupt Us Instead” by Peter Rizun [source]
Jan 27th : “We are a group of miners opposing the BTC.TOP proposal, here's why” article on Read.cash [source] [reddit announcement]
Jan 27th : Bitcoin Unlimited's BUIP 143: Refuse the Coinbase Tax [source][reddit announcement]
Jan 28th : “Bitcoin Verde's Response to the Miner Sponsored Development Fund” read.cash article by Josh Green in which he explains “Bitcoin Verde will not be implementing any node validation that enforces new coinbase rules.” [source]
Jan 28th : “Update on Developer Funding” read.cash article from Bitcoin.com [source] in which they state “As it stands now, Bitcoin.com will not go through with supporting any plan unless there is more agreement in the ecosystem such that the risk of a chain split is negligible.” And that “any funding proposal must be temporary and reversible.” This announcement from bitcoin.com and their mining pool lead the anonymous opposition miners to stand down. [source]
Jan 28th : The 253rd "Thoughts on developer funding" Article – by Chris Pacia, to tackle the “serious misconceptions in the community about how software development works”. He ends on a note of support for the IFP because of lack of realistic alternatives. [source]
Feb 1st: “BCH miner donation plan update” IFPv2 announced by Jiang Zhuoer of BTC.TOP [source] Which changes the donation mechanism so miners directly send part of their coinbase to the projects they wants to donate to. It would be activated with hashrate voting over a 3-month period with a 2/3 in favour requirement. The proposal also introduces a pilot period and a no donation option, Jiang Zhuoer also says he regards 12.% as too much.
Feb 7th: Group of BCH miners led by AsicSeer voice scepticism about the IFP during a reddit AMA [source]
Feb 15th: “On the Miner Infrastructure Funding Plan” article by Bitcoin ABC [source] In which they announce they will implement IFPv3 in their upcoming 0.21.0 release. This version has amount reduced to 5% of block reward and will go in effect with BIP 9 hashratevoting and a whitelist with different projects.
Feb 15th : “Introducing Flipstarter” [source]
Feb 16th :” Bitcoin.com’s stance on the recent block reward diversion proposals” video by Roger Ver on the Bitcoin.com Official Channel. [source] > Ver called Zhuoer’s IFP “clever” but ultimately “problematic.” [coinspice article]
Feb 16th :” BCH miner donation plan update again” read.cash article by Jiang Zhuoer of BTC.TOP [source] In which he briefly outlines the details of IFPv3
Feb 17th : “Latest Thoughts On Infrastructure Mining Plan” post by Jonald Fyookball [source]
Feb 17th : “Regarding the Bitcoin Cash Infrastructure Funding Plan, I am certain now that it should be scrapped immediately.” tweet by Mark Lundeberg [source]
Feb 19th : “Thoughts on the IFP - A Dev Perspective“ read.cash article by Josh Ellithorpe [source]
Feb 20th : “Bitcoin Cash Node” post announcing the new node implementation [source]
Feb 20th : First “Bitcoin Cash Developer Meeting” After IFP Proposal [source]
Feb 24th : “Flipstarter 500k, 6 independent campaigns” post announcing the goal to “fund the BCH ecosystem with 6 independent campaigns and an overall 500,000 USD target” [source]
Feb 27th : BCHN Formally Released [source]
Feb 27th : “The BCH difficulty adjustment algorithm is broken. Here's how to fix it.” Video by Jonathan Toomim [source]
Mar 3th :” Bitcoin Cash Node 2020: plans for May upgrade and beyond” post by BCHN [source]
Mar 4th :”Author of the Bitcoin Cash IFP [Jiang Zhuoer] Vows to Vote Against It, Using Personal Hash in Opposition” [source]
Mar 5th :Bitcoin ABC announces their 2020 Business Plan Fundraising for later in march [source]
Mar 15th : “EatBCH campaign funded! Next: node campaigns.” campaign funded after 11 hours [source]
Mar 30th : Bitcoin ABC 2020 Business Plan [source] $3.3 Million Fundraiser [source]
Apr 17th : Five flipstarter node campaign launched. [source]
Apr 26th : BCHN flipstarter campaign successfully funded. [source]
Apr 27th : VERDE flipstarter campaign successfully funded. [source]
May 4th : KNUTH flipstarter campaign successfully funded. [source]
May 7th : “BCH DeFi Startup General Protocols Raises Over $1 mil“ [source]
May 8th : BCHD flipstarter campaign successfully funded. [source]
May 9th : Deadline for node campaigns, ABC flipstarter campaign not funded. [source]
May 14th : “With IFP Defeated, Bitcoin ABC, ViaBTC & CoinEX CEO Publicly Consider a Bitcoin Cash Foundation” [source]
May 15th : deadline for ABC fundraiser campaign, ends at 55% completed. [source]
May 15th : 6th HF network upgrade -> new opcode op_Reversebytes, increased of the chained transaction limit from 25 to 50, and the improved counting of signature operations using the new “Sigchecks” implementation [source] with the “Controversial Funding Plan Rejected by Miners” [source]
May 25th : “Announcing the SLP Foundation” [source]
Jun 15st : “BCHN lead maintainer report 2020-06-15” announcement to remove the Automatic Replay Protection (a.k.a. the Poison Pill) from BCHN in november [source]
Jun 16st : “So [BCHN] is going to fork off from BCH at the next upgrade. Same old story. […]” tweeted Vin Armani [source]
Jun 21st : “Why Automatic Replay Protection Exists” post by Shammah Chancellor [source]
Jul 7th : “The Popular Stablecoin Tether Is Now Circulating on the Bitcoin Cash Network” [source]
Jul 8th : “BCH protocol upgrade proposal: Use ASERT as the new DAA” post by Jonathan Toomim [source]
Jul 18th : “$6M Worth of Tether on the Bitcoin Cash Chain Highlights the Benefits of SLP Tokens” [source]
Jul 23th : “Announcing the Grasberg DAA” post by Amaury Séchet[source]
Jul 24th : “Thoughts on Grasberg DAA” post by Mark Lundeberg [source]
Jul 29th : CashFusion security audit has been completed [source]
Jul 31st : Electron Cash 4.1.0 release with CashFusion support [source]
4th year, august 2020 – 2021
Aug 1st : “Bitcoin Cash: Scaling the Globe“ Online conference for ForkDay Celebration [source]
Aug 2nd : >“Is there going to be a fork between ABC and BCHN?” > “IMO it is very likely. If not in November, then next May.” – Amaury Séchet
Aug 3rd : “Dark secrets of the Grasberg DAA” post by Jonathan Toomim [source]
Aug 3rd : “Joint Statement On aserti3-2d Algorithm“ post by General Protocols, including Cryptophyl, Read.cash, Software Verde & SpinBCH [source]
Aug 3rd : Knuth announces they will be implementing aserti3-2d as DAA for november. [source]
Aug 3rd : Amaury rage quit from the developer call [source]
Aug 4th : “But why do people care about compensating for historical drift? Seems like a tiny problem and if it's causing this much social discord it seems not even worth bothering to try to fix.” Tweet by Vitalik [source]
Aug 5th : “Bitcoin Cash (BCH) November 2020 Upgrade statement” signed by BCHD, electron cash, VERDE, BU members, BCHN developers, Jonathan Toomim, Mark B. Lundeberg and many others [source]
Aug 5th : “BCHN FAQ on November 2020 Bitcoin Cash network upgrade” [source]
Aug 6th : “Bitcoin ABC’s plan for the November 2020 upgrade” [source] the announcement that they will drop Grasberg in favour of aserti3–2d (ASERT) and will also include FPv4 in which 8% of the blockreward goes to ABC as development funding.
Aug 7th : “Joint Statement from BCH Miners regarding Bitcoin ABC and the November 2020 BCH Upgrade.” Read.cash article by asicseer [source] stating “Over recent months, most miners and pools have switched to BCHN, and presently operate a majority of BCH hashrate.”
Aug 7th : “Simple Ledger Protocol's Joint Statement Regarding Bitcoin ABC on BCH's November 2020 Upgrade” read.cash post by the SLP-Foundation [source]
submitted by Mr-Zwets to btc [link] [comments]

A theory of why Ethereum is perhaps better "sound money" than Bitcoin.

The idea that Bitcoin's supremacy as "sound money" is very frequently thrown around by the biggest talking heads in the crypto world. I know I will get a lot of hate for suggesting that this theory is not only flawed, but it is straight up wrong. As unintuitive as it may sound to Bitcoin maximalists (no offense intended) I believe Ethereum is on the path to becoming the global leading asset and model for sound money... give me a chance to explain why.
  1. The idea that nothing can change Bitcoin's issuance schedule is a myth. There is absolutely no divine power controlling the supply of Bitcoin. Contrary to what is commonly asserted, Bitcoin's issuance protocol is not primarily driven by what is currently implemented. The real driver is consensus: the majority of network participants must agree that what is currently defined must not be changed. There is an underlying assumption that the consensus would never want to change Bitcoin's issuance. On the surface this makes for a nice "sound money" narrative, but it is false premise and sticking to it could be ultimately detrimental. It presents a long term sustainability issue (the hope that somehow Bitcoin's base layer will scale enough to maintain security entirely through fees). It also completely dismisses the possibility that an unforeseen event could create pressure to change the issuance. If Bitcoin managed to create a consensus mechanism that did not rely on mining, it it very likely there would be consensus to reduce issuance. On the other hand, if some potentially catastrophic event would create incentives to increase the issuance, it would only make sense for the network to do so.
  2. Issuance flexibility is not fundamentally bad. Etheruem's approach to adjust the issuance according to the contextual circumstances has resulted in a faster rate of issuance reduction than what was originally defined in the protocol. The rate of issuance will continue to decrease as new developments allow for it to happen without compromising the network security. There is a very high probability that Ethereum will achieve a lower issuance rate than Bitcoin in the next two years, and it could possibly achieve zero issuance in the next five years. This would be a result of a successful implementation of PoS, shading and EIP-1559.
  3. The root of all evil is Proof of Work. PoW is by far the primary cost of operating the Bitcoin network. It is the primary determinant of how much issuance is needed as a financial incentive to keep miners doing their thing. The very mechanism that secures the network's decentralization is unfortunately quite wasteful. The degree of decentralization is a direct result of how much random mathematical operations are being done by miners.
  4. There is a better way. Some people will take offense by the use of the word wasteful, and they claim that it is not because those mindless calculations are what is actually securing the network. However, its wasteful aspect becomes clear if there is a different way to achieve equal or superior decentralization without the need to crunch mathematical problems. This just so happens to be embodied in Ethereum's design of Proof of Stake. It will drastically reduce the cost of securing the network, while providing at least 2-3% annual returns for the ownership of Ether. When Ethereum's issuance becomes lower than its staking rewards, it will effectively have achieved the same effect as having zero (or possibly negative) issuance.
  5. The value proposition of Etheruem 2.0 is unmatched. There is just absolutely no asset in the world that has a 2-3% self-denominated annual returns and just so happens to be rapidly appreciating. When wall-street's greed sees this, it will create the mother of all bubbles.
  6. Don't dismiss the flippening. On February 01 2018 Ethereum reached 70% of Bitcoin's marked cap. That happened before DEFI, before proof of staking was within reach, before effectrive layer 2 was a thing, before wrapped Bitcoins and before the first signs of mass adoption use cases were actually on the table (like integration with Reddit, VISA). Utility is a huge factor in driving prices, lets not forget how Silk Road played a key role into propelling Bitcoin's value. Yes, Etheruem crashed hard after the peak in 2018, but perhaps it is simply manifesting a higher volatility pattern that is reminiscent of Bitcoin's early years. Bitcoin's first 5 years were characterized by aggressive price swings, why should it be different for Etheruem (considering it is about 5 years younger than Bitcoin)? If the volatility patterns stands on this bull market, we will see a flippening.
So... do I think Etheruem will flip? Yes I do, but I still hold Bitcoin. No one has crystal ball, and nothing is certain. Perhaps Etheruem will crash and burn, perhaps Bitcoin will become the next Yahoo, and perhaps they will both thrive in this new exciting crypto world.
submitted by TheWierdGuy to ethtrader [link] [comments]

If you missed the AMA

AMA AT DETECTIVE ID (25/06/2020)
Before welcoming any questions, I would like to briefly introduce STATERA PROJECT. Statera is a smart contract deflationary token pegged to a cryptocurrency index fund. By including STA in an index fund with Link, BTC, ETH, and SNX you can buy one token and access the price action of four of the leading cryptocurrencies. You can also invest directly in the index fund (balancer pool) and receive the benefits of fees and BAL tokens paid to you while also having an automatically balanced fund. Lastly the deflationary mechanics of STA increases the chance for positive price action while decreasing beta (volatility). This is all found in a smart contract that is fully decentralized, the founders can no longer augment the contract in any way and this has been confirmed by a third party code audit through Hacken.
Q1 : please explain in more detail about Statera, what is the background of this project? and when was it established?
The dev of this project had previously created another deflationary token BURN. When the Balancer Labs released the Balancer Protocol, he had an idea to combine the two, deflationary token and a pool of tokens, making the first deflationary index fund. It started in the end of May and on the 3rd iteration, May 29th - a trustless version was launched that we see today. As briefly explained earlier, STATERA or STA is an Index Deflationary Token built on Ethereum blockchain; Index: Contains a token suite of world class leading crypto assests BTC, ETH, LINK, SNX with STA. Deflationary: On every transaction of STA 1% of the transacted amount is sent to 0x address on ethereum, burned forever, thus reducing the circulating supply of STA Index+Deflationary: STA is mixed with BTC, ETH, LINK SNX in a portfolio, backed by liquidity on a protocol known as balancer (balancer.finance) This platform serves as a market maker for the token suit. The Index suite is of equal rate of 20%, that is 20% of BTC, ETH, SNX LINK and STA, Thus, anytime there is an increase in value of any of those coins or tokens, balancer automatically trade them for STA in order to keep the token suit ratio balanced. And anytime there is an increase in the value of STA, the same process applies. while doing this trade, it enables further burning on every transaction, thus facilitating more token scarcity. In addition to this, Statera was deployed with contract finalised, that is, the index suite can not be altered, It is completely out of Dev's control.
Q2 : What are the achievements that have been obtained by Statera in 2020? And what goals do you want to achieve in 2020?
By this we assume the questionnaire is asking for a roadmap! First, the project is barely a month old, and within just a month, our liquidity has grown from $50,000 to over $400,000 currently above $300,000. Among the things we have accomplished so far is the creation of market value for STA's Balancer liquidity pool token BPT, which is currently over $1000 per one BPT. Regarding what we set to achieve: The future is filled with many opportunities and potentials, currently, we are working on a massive campaign to introduce our product to the outside world. We have already made contact with different and reputable forums and channels regarding marketing and advertisement offers, some which we are currently negotiating, some which we are awaiting response. All we can say for now is that the Team is working hard to make this the Investment opportunity every crypto enthusiast has been waiting for. Statera has the goal of putting cryptocurrency into every portfolio. We believe we have a product that increases the returns of investing in cryptocurrencies and makes it easier to diversify in this space. We have done so much in June: articles, how to videos, completed the audit, tech upgrades like one token liquidity additions, and beginning our many social communities. We have been hard at work behind the scenes but things like sponsorships, features, and media take time, content makers need days if not weeks to develop content, especially the best of the best. We are working tirelessly, we will not disappoint. We have plans for 2020-2025 and will release those in the next month. They are big and bold, you’re going to be impressed by the scale of our vision, when we say “Cryptocurrency in every portfolio” we mean it. In 2020 more specifically we are focused on more media, videos, product offerings, and exchanges.
Q3 : What is the purpose of STA token? How can we get STA? The purpose of STA is an investment in the first deflationary index fund. The whole index's value rises from these aspects: 1. The index funds (WBTC,WETH,SNX,LINK) appreciate in value 2. When the index tokens are traded, the pool receives transaction fees - 1% 3. STA burns on transactions, so it's deflationary nature increases its value as the total supply drops 4. Balancer rewards Index holders with BAL token airdrops every week You can invest via the 'Trade' links in stateraproject.com website. Easiest way is to do it using ETH. The monetary policy of our token is set in stone and constantly deflationary. This negative supply pressure is a powerful mechanism in economics and price discovery. Through the lowering of supply we can decrease your beta (volatility) and increase your alpha (gains). Our token is currently only top 40 in liquidity on Balancer, however our volume is top 10! You want to know why? Because Statera works. Statera increases arbitrage, volume, fees, BAL rewards, and liquidity. Our liquidity miners in our Balancer pool are already making some of the highest BAL rewards on the platform, one user we spoke with made 18% in June, that’s over 150% APY! Our product is working, 100% (or you could say 150%), and when people start to see that, and realize the value, the sky's the limit.
Q4 : can we as a user do STA mining? The supply of STA doesn't increase anymore, it only decreases due to the burn feature. So there is no way to mine anymore STA. Only way to acquire the tokens is via an exchange. The monetary policy of our token is set in stone and constantly deflationary. This negative supply pressure is a powerful mechanism in economics and price discovery. Through the lowering of supply we can decrease your beta (volatility) and increase your alpha (gains). Our token is currently only top 40 in liquidity on Balancer, however our volume is top 10! You want to know why? Because Statera works. Statera increases arbitrage, volume, fees, BAL rewards, and liquidity. Our liquidity miners in our Balancer pool are already making some of the highest BAL rewards on the platform, one user we spoke with made 18% in June, that’s over 150% APY! Our product is working, 100% (or you could say 150%), and when people start to see that, and realize the value, the sky's the limit.
Q5 : The ecosystem of a public chain has a lot to do with the level of engagement and participation of third-party developers. How does Statera support the developers?
Not really. Our project is focusing on investment opportunities for the cryptocurrencies. The cryptocurrency tokens that are not used and are just sitting in a wallet can work for you by being added to an index fund and appreciate in value over time. First off, what we have created is a new asset class, I’ll repeat that, a new asset class. This asset has never existed: “Deflationary Index Fund,” what does that mean for finance? What will developers do with this? It’s hard to give a finite answer. We hope there are future economic papers on our token and what it means to be a deflationary index fund. With the addition of synthetic assets and oracles you can put any asset into the DeFi space: Gold, Nikkei 225, USD, etc. STA can be combined with any assets and bring the benefits of it’s ecosystem and deflationary mechanism to that asset. STA, the token itself, also gives you access to the price action of any asset it is paired with. Put simply STA’s balancer pool(s) give you a benefit in holding them, and STA’s price will reflect it’s inclusion in Balancer Pool(s) (and possibly future financial instruments), so STA is a bet on DeFi as a whole. When we say as whole, we mean as whole: what happens if you include STA in a crypto loan, or package it with a synthetic S&P 500 token, or use it as fee payment in a DeFi platform? Being fully decentralized it is up to our community to make this happen, social engagement and community are key. We are constantly bringing community members onto our team and rewarding those that benefit the ecosystem. in addition, Statera is a fully community project now. Paul who is the current team leader was an ordinary member of the community weeks ago, due to his interest and support for the project, he started dedicating his time to the project. Quite a number of community members are also in the same position, while Statera was developed by an individual, it is being built by the entire Statera community
Community Questions (Twitter):
Q1 From: @KazimKara35 The project tells us that the acquisition and sale of data between participants is protected by code of conduct and how safe is deployed on the blockchain, but how do you handle regulations while operating on a global scale?
Statera is decentralized token, similar to other utility crypto tokens and same regulations apply to it as others. his is actually a benefit of our decentralized nature. This isn’t legal advice, however in the past regulating bodies have ruled that the more decentralized a project is, especially from launch, the less likely they are to be deemed a security (see: Ethereum). This means they can be traded more freely and be available on more platforms. We are as decentralized as you can be. The data itself is all secured through the blockchain which has been shown to be a highly secure medium. We do not store any of your data and as long as you follow best practices in blockchain security there are no added security risks of using Statera. We don’t, and literally can’t, hold anymore personal information than is made available in any blockchain transaction. and that "personal information" is more likely than not just your ethereum wallet address, no "real world" data is included in transactions
Q2 from: @Michael_NGT353 What is Mechanism you use On your Project sir? Are you Use PoS,PoW or other Mechanism Can you explain why you use it and what is Make it Different?
Our token is an ERC-20 token and it's running on the Ethereum blockchain. The Ethereum's POW mechanism is currently supporting the Statera token We run on Ethereum, so we are currently PoW. With ETH 2.0 we will hopefully be PoS this year (hopefully). We use it because ETH has over 100 million addresses and around a million daily transactions. We are currently at about 1,900 token holders, we are just touching the edge of what is possible in this market. We chose the biggest and the best network available right now to launch our product. We think the upside is huge because of this choice. Being the biggest network it is also one of the most secure, no high risk vulnerabilities have been found in Ethereum or in our code (we've had our code audited by a third party, Hacken, and you can read their audit on our Medium page), so we also have security on our side
Q3 From : @Ryaaan_Nguyen Can you list some of Statera outstanding features for everyone here to know about? What are the products that Statera is focusing on developing?
As mentioned earlier by GC, First off, what we have created is a new asset class, I’ll repeat that, a new asset class. This asset has never existed: “Deflationary Index Fund,” what does that mean for finance? What will developers do with this? It’s hard to give a finite answer. We hope there are future economic papers on our token and what it means to be a deflationary index fund. With the addition of synthetic assets and oracles you can put any asset into the DeFi space: Gold, Nikkei 225, USD, etc. STA can be combined with any assets and bring the benefits of it’s ecosystem and deflationary mechanism to that asset. STA, the token itself, also gives you access to the price action of any asset it is paired with. Put simply STA’s balancer pool(s) give you a benefit in holding them, and STA’s price will reflect it’s inclusion in Balancer Pool(s) (and possibly future financial instruments), so STA is a bet on DeFi as a whole. When we say as whole, we mean as whole: what happens if you include STA in a crypto loan, or package it with a synthetic S&P 500 token, or use it as fee payment in a DeFi platform? We touched on this a bit in the question on what makes us special compared to other exchanges. We have created a product that synergizes with Balancer Pools creating a symbiotic relationship that improves the outcomes for users (our product can also synergize with future DeFi products). By including STA in an index fund with Link, BTC, ETH, and SNX you can buy one token and access the price action of four of the leading cryptocurrencies. You can also invest directly in the index fund (balancer pool) and receive the benefits of fees and BAL tokens paid to you while also having an automatically balanced portfolio (like an index fund with dividends). Lastly, the deflationary mechanics of STA increases the chance for positive price action while decreasing beta. We want to package Statera with assets across the whole cryptocurrency space, with an emphasis on DeFi. We also want everyday people to be able to invest quickly in crypto while also feeling reassured their investment is set up to succeed. We are focused on developing a name brand that people go to first and foremost when investing in crypto: cryptocurrency in every portfolio. This is all found in a smart contract that is fully decentralized, the founders can no longer augment the contract in any way and this has been confirmed by the third party code audit. This is a feature in and of itself, some argue that Bitcoin’s true value is in it’s network effect, first mover advantage, and immutability. Statera is modeled on all three of those and has those features in spades. The community now owns our token, the power in that, giving finance and power to the people, is why we are here.
Q4 From : @futcek What do you think about the possibility of creating new use cases in DeFi space for existing real world assets by using crypto technology? What role do you see in this creation for Statera?
I think my answer above actually answers this perfectly, Statera in and of itself is a “new use case”, a “deflationary index fund” has never existed, I’ll copy and paste the other relevant part: “With the addition of synthetic assets and oracles you can put any asset into the DeFi space: Gold, Nikkei 225, USD, etc. STA can be combined with any assets and bring the benefits of it’s ecosystem and deflationary mechanism to that asset. STA, the token itself, also gives you access to the price action of any asset it is paired with. Put simply STA’s balancer pool(s) give you a benefit in holding them, and STA’s price will reflect it’s inclusion in Balancer Pool(s) (and possibly future financial instruments), so STA is a bet on DeFi as a whole. When we say as whole, we mean as whole: what happens if you include STA in a crypto loan, or package it with a synthetic S&P 500 token, or use it as fee payment in a DeFi platform? Being fully decentralized it is up to our community to make this happen, social engagement and community are key. We are constantly bringing community members onto our team and rewarding those that benefit the ecosystem.” Statera is a way to make your investment more successful, and owning Statera let's you benefit from other people using it to make their investments more successful (a self feeding cycle).
Q5 From : @Carmenzamorag Statera's deflationary system is based in that with every transaction 1% of the amount is destroyed, would this lead to lack of supply and liquidity in the long term future? How would that be fixed?
The curve of supply is asymptote, meaning that it will never reach zero. The idea is that the deflationary process will slowly decrease the supply of STA, which – combined with a fixed or increaseing demand – will result in STA appreciating in value. Evidently, as the STA token increases in value, the amounts of STA being traded will slowly decrease: The typical investor might buy 10.000 STA at the current rate, but in the future (proportional to an increase in the valueation of STA) this number will tend to decrease, hence the future investor might only buy 1000 STA. This of course results in less STA being burned. Additionally, STA is divisible to the 18th decimal, why – even if the supply was to reach 1 STA – there would be a sufficient supply. Well this would be a question for a Mathematician, and luckily we’re loaded with them (as seen above)! I’ll try to illustrate with an example. 1% of 100 million is 1 million, 1% of 10 million is 100,000. As we go down in supply the burn is less by volume. What also happens at lower supply is higher prices (supply and demand economics). So those 1 million tokens burned may be worth $20,000, but by the time overall supply is at 10 million those 100,000 tokens may also be worth $20,000 or even more. This means you transact “less”, if you want to buy 1 Ether now with Statera you need 8,900 STA which would burn 89 tokens. If Statera is worth $100 you only need 2.32 statera (.023 tokens burned). Along with this proportional and relative burn decrease, tokens are 18 decimals long, so even when we get to 1 token left (which mathematically would take decades if not centuries, but that is wholly dependent on usage), you are still left with 10 to the 18th power, or one quintillion “tokens”. So it’s going to take us a while to have supply issues :)
Nuked Phase (3rd Part)
Q) What is your VISION and Mission?
Our working mission and vision: Mission: Provide every investor with simple and effective ways to invest in cryptocurrency. Decrease volatility and increase positive price pressure in cryptocurrency investments. Lower the barrier to entry for more advanced investment tools. Be a community focused and community driven cryptocurrency, fully decentralized by every meaning of the word. Vision: We aspire to put “cryptocurrency in every portfolio”. We envision a world where finance is given back to the people and wealth building strategies withheld only for affluent individuals are given to all. We also strive to create an investment environment based on sound monetary policy and all the power that comes with a sound asset.
Q) What are the benefits of STA for its investors in long term? Does STA have Afrika as an important area for its expansion?
We have ties to Africa and see Statera as a way for anyone and everyone to invest in cryptocurrency. The small marketcap of statera makes it's price low and it's upside massive. Right now if you wanted to be exposed to the price action of four cryptocurrencies (BTC, ETH, Link, SNX) Statera is a way to gain that exposure in a way that has a huge upside, compared to the other four assets, there are risks in investing in any small cap but with those risk come outsized rewards (not investment advice and all answers are solely my opinions 😊)
Q) In the long run, why should we trust and follow STATERA? How do you raise awareness and elimination of the doubts of investors / partners / customers?.
You're really asking "How do I trust myself and other crypto investors" The project is FULLY decentralized, it is now in the hands of the community. We would venture a guess that the community wants their investment to succeed and be worth more in the future, so you are betting on people. wanting to make themselves money on their own investment. This is a pretty sure bet. The community being active and engaged is key, and we have short term and long term plans to ensure this happens
Q) No one can doubt the strength of #Statera. But can you tell us some of the challenges and difficulties you're presently facing? How can you possibly overcome them?
We're swinging outside our weightclass, we don't see litecoin or SNX, or any other crypto product as our competition. Our competition is NASDAQ, Fidelity, etc. We want to provide world class financial instruments that only the wealthy have access to in the traditional world to everyone. Providing liquidity, risk parity, being paid to provide liquidity, unique value propositions, are all things we want to bring to everyone. However we are coming up in a hectic space, everyday their is fud and defamation on the web, but that is the sandbox we chose to play in and we aren't grabbing our ball and going home. We can tell you that we will not disappoint and fighting all the fud that comes along with being a small and upstart project only fuel our fire. Building legitimacy is our largest challenge and looking at our audit, financial report, and some things you will see in the coming weeks, we hope you see we are facing those challenges head on.
Q) What is the actual uniqueness of #Statera.??? Can you guys please explain tha advantages of #Statera over other projects.??
When we launched there were no other products like ours. There are now copies, and we wish them the best, but we have the best product, hands down. Over the next couple weeks this will become apparent, if it hasn't already, also a lot of the AMA answers dug deeper into our unique value proposition, especially the benefits we provide to Balancer Pools which shows the benefits we would provide for any index fund. We are a tool to improve cryptocurrency investing
Q) Fragmentation, layering and cross-chain are three future solutions for high-performance blockchains. Where is Statera currently? What are the main reasons for taking this direction?
We operate on the Ethereum chain, as it upgrades our services and usability will upgrade. We are working on UI and more user friendly systems to onboard people into our ecosystem
Q) How STATERA plan to make room and make this project known in the world of crypto, full of technology and full of new projects very good in today's market?
We think we have a truly innovative product, which - when first understood - appeals to most investors. Whether you want a high-volatility/medium-risk token like STA or whether you are more conservative and simply just plan on adding to the Statera pool BPT (which is not nearly as volatile but still offers great returns). We plan on making Statera known to the crypto world through a marketing campaign which slowly will be unravelled in the comming days and weeks. If interested, you can check out an analysis of the different investment options in the Statera ecosystem in our first financial report: https://medium.com/@stateraproject/statera-financial-reports-b47defb58a18
Q) Hello, cryptocurrencies are very volatile and follow bitcoin ... and does this apply to Statera? or is there some other logic present in some way? is statera token different from a current token? Are you working on listings on other exchanges?
Currently uniswap is somewhat uncomfortable for fees. We are also on bamboo relay, saturn network, and mesa. Statera will be volatile like all cryptocurrency, this is a small and nascent space. But with the deflationary mechanic and balancer pool, over time, as marketcap grows it will become less volatile and more positively reactive to price.
Q) Security is one of the most essential characteristics for a project to get reputation. How can #Statera Team assure to their community that users assets and investments will stay safe from unwanted agents?
We have been third party audited by the same company that worked with VeChain to audit their code. Our code has been shown to be bulletproof. Unless Ethereum comes up with a fatal security flaw there is nothing that can happen to our contract (there is no backdoor, no way for anyone to edit or adjust the smart contract).
Q) Many investors see the project from the price of the coin. Can you give us advantages why Statera is so suitable for long-term investment? and what makes Statera different from other similar projects?
Sometimes the simplest solutions are the most effective. A question you can ask is “What if this fails”? But you can also ask, “What if this succeeds”? Cryptocurrency is filled with asymmetric risks, we think if you look into the value proposition you will find that there is a huge asymmetric risk/reward in Statera, and we will make that even clearer in our soon to be released litepaper. You are on the ground floor of a simple but highly effective solution to onboarding people into defi, cryptocurrencies, and investing. Our product reduces volatility and increases gains (decreases beta and increases alpha in investor terms), which is highly attractive in any investment. The down side is there but the upside outweighs it exponentially (asymmetric risk)
Q) What your plans in place for global expansion, are Statera focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships? Can you explain this?
We have reached out to influencers in other countries and things are in the works. We have also translated documents and are working on having them in at least 4 languages by the end of July. We were founded globally, our team is global, and we are focused on reaching all 7 billion people.
Q) Now in the cryptofield everyday there are new projects joining in the Blockchain space. They are upgraded, Well-established and coming up with innovative technology. How Statera going to compete with them? What do you think, one day Statera will become useless And will be lost into the abyss of time for not bringing any new technology?
We are the first of our kind, no one had a deflationary index fund before us. Index funds will be the future of crypto (look at the popularity of etfs and indexes in the traditional markets). We are a tool to make your index function better and pay you more. As long as people care about crypto index funds they will care about the value STA brings to that. We have an involved and long term plan to reach dominance over a 5 year span, this is not a flash in the pan, big things coming
Q1. You say that the weight and proportions of your tokens are constant. So how have you managed to prevent market price speculation from generating hypervolability in your token price? Do you consider yourselves a kind of stablecoin? Q2. How many jurisdictions allow the use of Stratera products and services? Are they available for Latin America? @joloroeowo The balancer ensures an equal ratio of 20% amongst the five tokens included in our fund. This, however, does not imply that the tokens are stable. Rather, the Balancer protocol helps mitigating price fluctuations.
Q) How can I as a Statera participant participate in liquidity mining, and receive BAL as reward? What are the use cases of $STA token, and how are users motivated to buy and hold long term?
The easiest way is to go to stateratoken.com and click trade then BPT. You can also buy all five tokens and click on portfolio then add liquidity. Balancer is working on a simpler interface to add liquidity with one token, we are waiting on them. I think we explained the use cases above
Q) What do you plan have for global expansion, is Statera currently focused solely on the market? Or is it focused on building and developing or acquiring customer and user or partnership relationships? Can you explain it?
We are currently working on promoting the project and further develope our product, making it lucrative for more new investors to join our pool and invest in the STA token.
Q1) Statera have 2 types of tokens, so can you tell me the differences between STA and STAC ? What are their uses cases? Is possible Swap between them? Q2) Currently the only possible Swap or "exchange" possible is Uniswap, so you do have plans to list the STA token into a more Exchanges?
STAC is obsolete, we only have STA and BPT (go to our website and click on trade) stateratoken.com BPT gives you more diversification and less risk, STA gives you more volatility and more chance for big gains. Q2 we are on multiple exchanges (4), bamboo relay, saturn, and mesa we do have plans for future exchanges but the big ones have processes and hoops to jump through that can't be done so quickly
Q) What business scenarios can STATERA support now? In which industries can we see the mass adoption of STATERA technology in the near future?
Statera increases the effectiveness of your cryptocurrency investments. Specifically it makes cryptocurrency index funds function better, netting you higher returns, which we have already seen in just one month of implementation. Right now, today, you can buy our BPT token and increase the functionality of holding a crypto index fund. In the future we want every single web user to see and use our product
Q) Do you plan to migrate to other platforms like Tron, BinanceChain, EOS, etc. if it is feasible??
Migrating our current contract is not. Starting new offerings on those other chains could be possible, they aren't on our radar currently but if the community requests them we are driven by our community
Q) ETH Blockchain is a Blockchain have many token based in it, i have used ETH blockchain long time and i see it have big fee and need much time to make a transcation so Why you choose to based STA in ETH blockchain not other like Bep2 or Trc20 ?
Simply: 100 million addresses, 1 million transactions a day. The more users we have the more we will benefit our community. We hope ETH 2.0 scaling will fix the problems you mention.
Q) No one achieve anything of value on its own, please can you share about Statera present and future partnerships that will drive you to success in this highly congested crypto space?
We have a unique product that no one else has (there are people who have copied us). We can't announce our current and future partnerships yet, but they will be released soon. Our future hopes of partnerships are big and will be key to our future, know we are focused on making big partnerships, some you may not even be thinking about.
Q) According to the fact that your algorithm causes 1% of each transaction to be destroyed, I would like to know, then, how you plan to finance yourself as a project in the long term?
The project is now in the hands of the community and we are a team of passionate people volunteering to help promote and develope the Statera ecosystem. But then, how do we afford running a promo campaign? We have lots of great community members donating funds that goes to promoting the project. In other words, the community helps financing the project. And so far, we have created a fantastic community consisting of passionate and well-educated people!
Q) There are many cryptocurrency startups were established by talent teams, but they got problem in raising capital via token sales due to many factors as bear market, bankrupt etc. This leaded their potential startups fail. So how will Statera break these barriers and attract more funds from outside crypto space?
We are community focused and community ran. When you look at centralized cryptocurrencies you can see the negative of them (Tron, ADA, etc.) We believe being fully decentralized is the true power position. You the owner of statera can affect our future and must affect our future. This direct ownership means people need to mobilize and organize to push us forward, and it is in their best self interest to do so. It's a bet on our community, we're excited about that bet
Q) What business scenarios can STATERA support now? In which industries can we see the mass adoption of STATERA technology in the near future?
Statera increases the effectiveness of your cryptocurrency investments. Specifically it makes cryptocurrency index funds function better, netting you higher returns, which we have already seen in just one month of implementation. Right now, today, you can buy our BPT token and increase the functionality of holding a crypto index fund. In the future we want every single web user to see and use our product
Q) Why being a hybrid of a liquidity pool and an index fund? What are the main benefits about this?
By being a liquidity pool the exchange side of the pool (balancer also functions as an exchange) gives you added liquidity for more effortless, effective, and cheaper rebalancing. You also benefit from getting paid the fee when people use the exchange AND getting paid BAL tokens that are worth $15-20 USD. These are not benefits you get with an index fund, meanwhile the liquidity pool rebalances just like an index fund would
Q) Which specific about technology and strategy of #STA that make you believe it will be successful and what does #STA plan do to attract more users in the upcoming time?
I think the idea behind Statera is truly ingenious. We have made an index fund, which investors are highly(!) incentivised to invest in, namely because the ROI, so far, has been huge. An increase in the pool liquidity (index fund) indirectly translates into an increase in the price of STA, why we think the STA token - combined with its deflationary nature - will increase in the long run. The mechanism behind this is somewhat complex, but to better get an understanding of it, I suggest you visit our medium page and read more about the project: https://medium.com/@stateraproject
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Dash Core Group - Desperately Seeking Bankers

Introduction
This story starts with DCG and it’s relationship with Dr. Darren Tapp of ASU (Arizona State University). But Dr. Tapp does not stand alone, for there is a loose network of friends with a shared agenda, not only to make dash a regulator-friendly project but to wilfully weaken end-user privacy by upholding a principle of transparency-first.
More than ever, society is engaged in a war on privacy. And when it comes to financial transactions, DCG has taken the position of transparency-first. In sharp contrast, many other projects in this industry are either improving end-user privacy (decred, tezos etc), or actively pursuing privacy first (monero, beam etc).
As you may know, the scaling wars of the past revolved around block size, eventually giving way to “big blocker” projects like bitcoin cash and dash. By enforcing small blocks, Blockstream successfully syphoned off miner fees to the Lightning Network and it’s own Liquid Network. I believe we may be witnessing a similar event with dash. This time it’s not a scaling issue, it’s a privacy issue; transparency-first vs privacy-first.
The Power of Inaction
As many of you know, Dr. Darren Tapp is a research professor at ASU. And you may also be aware, in July 2019, the dash treasury paid ASU 345 dash for research into zero-knowledge proofs. Here’s an excerpt from the proposal along with the relevant link:

“This proposal seeks funding to renew our annual funding commitment to ASU’s Blockchain Research Lab and specifically to fund a research project which would investigate methods to apply zero-knowledge proofs to blockchain identities. It is possible Dash could leverage this research to apply zero-knowledge proofs to identity functions within the Dash network.”
https://www.dashcentral.org/p/dash-core-group-research

To date, there has been zero feedback from this project and, so far, all requests for an update have resulted in silence, including it’s omission from the DCG quarterly call.
I am particularly concerned by a seemingly gross contradiction. The result of this research into zero-knowledge proofs was to apply to blockchain identities but not to actual payments when they hit the dash blockchain. DCG and it’s proponents argue that privacy-first negates the ability to audit the chain for inflation. But if this was true, how can anyone argue with confidence that zero-knowledge proofs would only work with blockchain identities? It is, I say, a bit disingenuous to suggest it can work one way but not the other.
A Tapp Perspective
I now want to draw your attention to a recent interview between Joel Valenzuela and Dr. Darren Tapp on 8 May 2020:
https://www.youtube.com/watch?v=Tikj0O0xphE

Here is a particularly pertinent quote from Dr. Tapp:

@ 1:06:13 DT: “Well, I’ll just tell you my use case for dash, right. You’re talking about your use case. My use case for dash is, well, I’m not going to worry about the coffee guy thinking I have a whole bunch of money because I’m going to pay with my phone and I’m only going to keep a small amount on my phone, right? So that right there, they would have trouble you know, they have to go a few steps back and then they’re not even sure if it’s mine if there’s no Private Send. Um, if I don’t use Private Send. And if, let’s say, if I did want to take some money and put it into Coinbase. Well, if I don’t use Private Send and they’re asking “where’s the money came from?” - and that’s what they’re going to do - it’s going to be a little bit easier to say, “this is where it came from”, right?. I mean, I wouldn’t lie to them, I’d tell them the same thing no matter if I used Private Send or not, but I just think I’m going to have less problems with the bank and stuff if it wasn’t so obfuscated. So yeah, I think there’s a kind of, I think there needs to be room for both on chain. There needs to be.. I mean, I’m glad you’re enjoying Private Send. I think there are some improvements that can be made to Private Send. Umm, but I mean, there were some discussion of MimbleWimble and there is, no, we do not do that. No no no. But like, I mean, if you want to bring over some improvements, maybe start reading about the Cash Fusion that’s on the Bitcoin Cash. Umm, so err and like, I believe if you read Cash Fusion, their paper, I believe we can do Private Send in a way where the masternodes doesn’t know which output corresponds to which input. So, right now we trust that the masternodes aren’t paying attention, aren’t going to, you know… they’re... yeah I mean, and they have the word trust in it, they have a vested interest in the network working so that Private Send works the way it’s supposed to work. But, you know, at the same time, if you can do some small little cryptographic thing for no real cost on your processors and stuff like that, umm, why wouldn’t you? So that’s one thing I think that can be brought in. I think Cash Fusion also might do a better job of keeping the balance separate or something like that, but err., I would definitely be in favor of improving Private Send. Umm, but also at the same time, I’m glad that I’m given a choice if I want to use it or not. And pretty much anything when I’m interacting with the banking system, which I know you’re doing a fiat-free, so you don’t need to worry about that Joel.. but when you’re interacting with the banking system, the easier it is to explain to them, the better off, the easier time they’ll give you. That’s the way it is.”

In other words, Dr. Tapp’s priority is transparency-first for the benefit of the banking system.
What I found particularly interesting was Dr. Tapp’s body language. While he was making the above statement, at 1:07:04 he says, “I wouldn’t lie to them [the bank]” and at this exact same moment he goes to touch his face and pulls back. This is a body language clue that he’s lying or somewhat anxious about saying this. This doesn’t mean he is actually lying because with body language you normally need multiple clues to be sure, but having watched it multiple times, I am personally more convinced than not that he was in fact lying or anxious.
Dr. Tapp has outright rejected MimbleWimble, which is fine because MW is just one of several privacy enhancing technologies. But given the complete lack of feedback regarding zero-knowledge proofs from ASU. And given Dr. Tapp’s stance on transparency-first for the benefit of the banking system, I am wondering if there’s more to this than just one person’s opinion on the matter.
The Yes Chain
DCG asserts that dash has fewer privacy features than bitcoin. To make this case, considerable effort has been made to educate exchanges and regulators:
https://blog.dash.org/dash-complies-with-the-financial-action-task-force-fatf-guidelines-including-the-travel-rule-a4c658efc89d

According to DCG, the benefits of a transparency-first approach are:
a) Transaction monitoring
b) Identifying and blocking transactions that utilized mixing, or are in close proximity of known bad actors or sanctioned wallet addresses.
c) Track anonymity enhanced convertible virtual currencies and wallet addresses sending more private transactions.
d) This means that the VASP can choose to identify, block, and report on all transactions sent with Dash PrivateSend and can track and report on all the components of a mixed transaction.
e) Reporting on your users’ blockchain transactions
f) Establish an automated record keeping system for suspicious activity
g) Activity reporting, customer due diligence, and currency transaction reporting.
h) Track anonymity enhanced convertible virtual currencies and wallet addresses sending more private transactions.
i) Customizable risk scoring

Clearly, the scoring / ranking of coin histories (“risk assessment”) is producing a situation where some coins are more worthy than others.
Let us also consider the recent initiative to get dash re-listed on Japanese exchanges at a cost of 428 dash: https://app.dashnexus.org/proposals/listing-dash-in-japan/overview
Coinfirm-ation
For a number of years, in pursuit of regulatory approval, DCG has been courting chain analysis companies. This started in August 2016 when Robert Wiecko (Dash COO) was invited to attend a bitcoin meetup in Warsaw where he met Pawel Kuskowski (CEO and co-founder of Coinfirm) . Here is the original proposal along with the subsequent Coinfirm interview with Amanda B Johnson:
https://www.dash.org/forum/threads/dash-on-warsaw-block-on-25-08-2016.10211/
https://www.youtube.com/watch?v=KJOhIkeK3Ho

Mr Wiecko’s original proposal failed to mention any relationship or intention to engage with chain analysis companies. Nor was it mentioned that this meetup itself was sponsored by Coinfirm. It comes with little surprise that Robert Wiecko does, in fact, have some experience working with compliance (see @ 27:05 of Amanda’s video).

“Btw, we have, both of us have a compliance background. My last job was with [inaudible] bank, before that within a banking compliance department”

Block the Blockchain
Karen Hsu has a long history with dash. Formally from BlockCypher, she helped dash with various integrations, including Payza. She is now CEO of BlockchainIntel and in April 2020, she helped to facilitate an integration with Reciprocity Trading.
https://blog.dash.org/dash-core-group-reciprocity-trading-and-blockchainintel-focus-on-transparency-in-digital-currency-7a71c8ff84ec

“As more people will be interacting online now and potentially in the future, it will be increasingly important to provide transparency so people can trust those they cannot see,”

Karen is interested in blockchain, machine learning and analytics. And in 2018 she worked with various law enforcement agencies to help track and trace five million dollars worth of dash, allegedly stolen from a retired couple:
https://medium.com/@karenhsumaif-you-have-digital-evidence-for-a-theft-whats-holding-up-justice-e7ebf99eddf0

“The thieves didn’t move the funds right away. A couple months after the initial theft, they started to move the funds to multiple wallet addresses across the world. During their hundreds of transfers, the thieves converted the Dash into other cryptocurrencies. We were able to track their every transfer, whether it was from one Dash address to another, or from a Dash address into another cryptocurrency. In the end, the thieves had transferred the stolen Dash into hundreds of different wallet addresses and exchanged the Dash for Bitcoin, Ether and Bitcoin Cash.
We collaborated with the FBI and traced the funds to an exchange in Asia. Through our connections with that exchange, law enforcement was able to obtain details of the account owner, which led to a bank account. By September 2018, three months after the theft, our tools and collaboration with law enforcement had identified a person involved in this theft. At that point, the victims, law enforcement and us at BlockchainIntel were hopeful there would be some recovery of stolen funds. But that’s when things slowed down. A lot.”

The narrative is clear; an innocent couple were victims of financial crime. Did the thief use Private Send? Was the thief dumb enough not to use Private Send? Is this the type of scenario that Dr. Tapp endorses for transparency-first when dealing with a financial institution?
In contrast, let us take a look at a story from January 2017 by NIAC (National Iranian American Council):
https://www.niacouncil.org/press_room/niac-concerned-u-s-banks-denying-financial-services-iranians-u-s/

“Over the past few years, Iranian visa-holders resident in the United States have seen their bank accounts at U.S. financial institutions shuttered as a result of U.S. sanctions. The most recent case is that of Chase Bank, where NIAC has learned that Chase is closing the bank accounts of Iranian visa-holders. NIAC is deeply concerned that U.S. banks are denying financial services to Iranians in the United States on the basis of their national origin and calls on Chase Bank and other U.S. financial institutions to cease and desist from such discriminatory policies. At the same time, NIAC believes that the repeated nature of these account closures makes it incumbent on the U.S. administration to take immediate steps to provide clarity as to the scope of existing U.S. sanctions laws — none of which bar U.S. banks from opening and maintaining accounts for Iranian visa-holders resident in the United States.”

Great! Who needs banks when Iranians can use dash! But then again, what if the recent history of your dash coins was linked to an innocent Iranian, disqualified and excluded by sanctions?
Closing
A global peer-to-peer electronic cash system needs to be cheap, fast and very easy to use. Dash’s technical ability to meet demand is very much in sight and the Velocity protocol certainly seems promising. But digital cash also requires a high degree of fungibility. The less fungibility there is, the more discretion and division it sows. The path of a coin should not unduly taint a person’s reputation.
Incremental improvements have been made to Private Send but it is today, fundamentally, the same as it was six years ago. Mixing takes a long time and the user requires knowledge to use it in a safe manner. For example, external actors proactively breaking VPN connections to reveal the underlying IP address during mixing.
A poor user experience is probably why Private Send isn’t used very much and that seems like a very convenient situation for those people actively pursuing regulatory approval. I have to wonder, has the internal workings of DCG been compromised by state level actors? Is this why key members of DCG have refused to undergo a polygraph test?
submitted by circleio to dashpay [link] [comments]

Round up of Cryptocurrency News #3 Week 20/07 - 26/07

Pssst! Hey you. Scroll down for commentary!
Important/Notable/Highlights:
Special Mentions:
You haven't had enough news? Here is some more:
Speculation:
You made it! :)
First up, SORRY! This has been a late post, I have my reasons don't question them (if you must know I'll be posting in the discord - one time only haha). Secondly, I am sure you can agree with me when I say "Wow!" What an incredible week it has been. Last week I thought it was going to take a couple more weeks for more moving price action when it had only taken a few days which has seen Bitcoin reach and pass the $10,000 region. We have also seen the total Market cap for cryptocurrencies increase from about 280B to over 300B (308B at time of writing) within just a few days. A huge injection of liquidity, about 40B, into the market and just to name a few of the best rises in the top 20 (on Coinmarketcap.com), the price of ETH BTC ADA have given good performances/positive responses (With this I will start adding screenshots at the end of each week for timestamp purposes).
This may be a combination from Binance, Mastercard, Paypal, Grayscale investments, VISA AND the DEFI sector. Let me explain... Last week we read about Binance integrating with the company Swipe (SXP) to issue there own debit card expanding the use and reach of cryptocurrency to 31 countries within Europe. Binance's Q2 scheduled token burn of $60.5 Million, this figure correlates with its exchange, margin and futures trading platforms where approximately 20% of profits get burned to increase the price of BNB token (careful as the price has been steady after the burn).
This week we find out Mastercard's expansion into the Cryptosphere as they expand and integrate with the Wirex team to issue a Mastercard-backed Bitcoin debit card, thus further extending the reach of cryptocurrency availability internationally.
"The cryptocurrency market continues to mature and Mastercard is driving it forward, creating safe and secure experiences for consumers and businesses in today’s digital economy " "...Our work with Wirex and the wider crypto ecosystem is accelerating innovation and empowering consumers with more choice in the way they pay"
Mastercard is also reaching out to other emerging cryptocurrency firms to apply to become principal members [Partners] with Mastercard as they have relaxed their digital assets program and look to expand into the Digital Assets and Blockchain environment.
Paypals expression of interest in cryptocurrency facilitiation may bear fruits as it is said Paypal has partnered up with stablecoin operator Paxos (who is already in partnership with Revolut in the US) to facilitate trading through a cryptocurrency brokerage which will enable other firms to integrate cryptocurrency trading functionalities with them. In my opinion this looks much more promising than the Libra association they pulled out from last October as regulations.
Grayscale Investments clears regulatory hurdle as they have been given the green light for its Bitcoin Cash Trust (BCHG) and Litecoin Trust (LTCN) to be quoted in over-the-counter (OTC) markets by US Financial Industry Regulatory Authority (FINRA).
“The Trusts are open-ended trusts sponsored by Grayscale and are intended to enable exposure to the price movement of the Trusts’ underlying assets through a traditional investment vehicle, avoiding the challenges of buying, storing, and safekeeping digital Bitcoin Cash or Litecoin directly.”
More green lights for Cryptocurrency in the US as regulators allow banks to provide cryptocurrency custody services (which may go further than just custody services). A little bit strange as it seems unnecessary and undermines one of the key factors and uses of cryptocurrency which is to be in complete control of your own finances... On another outlook this may be bullish as it allows US banks to provide banking services directly to lawful cryptocurrency businesses and show support for Bitcoin.
Visa shows support stating they have a roadmap for their further expansion into the Crypto sphere. Already working with Crypto platform Coinbase and Fold they have stated they recognise the role of digital assets in the future of money. To be frank, it appears to be focused on stable coins, cost effectiveness and transaction speeds. However they are expanding their support for crypto assets.
AND MOST IMPORTANTLY, DeFI! Our very own growing section in crypto. Just like the 2017 ICO boom we are seeing exorbitant growth and FOMO into the Decentralised Finance sector (WBTC, Stablecoins, Yield farming, DEXs etc). The amount of active addresses on Ethereum has doubled but with the FOMO on their network have sky rocketed their fees! Large use-cases of stable coins such as USDT ($6B in circulation using ERC-20 standard), DAI, TUSD, and PAX. $114M Wrapped Bitcoin (WBTC) on their network acts as a fluid side chain for Bitcoin and DEX trade volume has touched $1.6B this month. With all this action happening on Ethereum I saw the 24HR volume surpass BTC briefly on Worldcoinindex.com
In other news, Bitcoin has been set as a new precedent in a US federal court in a case against Larry Dean Harmon, the operator of an underground trading platform Helix. Bitcoin has now legally been ruled as a form of money.
“After examination of the relevant statutes, case law, and other sources, the Court concludes that bitcoin is money under the MTA and that Helix, as described in the indictment, was an `unlicensed money transmitting business´ under applicable federal law.”
Quick news in China/Asia as floods threaten miners and the most dominant ASIC Bitcoin mining rig manufacturer Bitmain loses 10,000 Antminers worth millions alledgedly goes missing or "illegally transfered" with ongoing leadership dispute between cofounders.
Last but not least, Cardano (ADA) upgrade Shelley is ready to launch! Hardfork is initiated as final countdown clock is switched on. At time of writing the point of no return has been reached, stress tests done and confirmation Hardfork is coming 29/07 The Shelley Mainnet upgrade is a step toward fast, capable and decentralised crypto that can serve billions of people. With the Shelley Mainnet is ADA staking rewards and pools! Here is a chance for us Gravychainers to set up a small pool of our own. Small percentage of profits going into the development of the community, and you keep the rest!
If you read all of my ramblings thanks heaps! I appreciate it! I have added an extra piece of reading called speculation. Most you can speculate on by just reading the headline some others have more depth to them.
Another post next week for a weekly round up! Where do you think the market is going? What is in your portfolio? Let us know in the Gravychain Discord Channel
See you soon!
🍕 Bring some virtual pizza to share 🍕
Come have a chat, stimulate a discussion, ask a question or share some knowledge. We are all friendly crypto enthusiasts up for a chat, supportive and want to help each other with knowledge and investments!
Big thanks to our Telegram and My Crypto HQ for the constant news updates!
P.S.
Dr Seuss collectables on the blockchain HECK YEAH! and Bitcoin enters NASCAR, remember when Doge did this? it was like when Doge was trending on TikTok.
... Oh yeah did I also mention Steve Wozniak is suing Youtube, Google over rampant Bitcoin scams. Wait, what? Sydney based law firm JPB Liberty is suing Google, Facebook and Twitter for up to $300B. Just another day in the Cryptosphere.
submitted by IOTAbesomewhere to Gravychain [link] [comments]

Reminder: Jews have real life time machines and want me to think that particle accelerators are time machines

Helloooooooo, it's me Satan/the devil again. Thought I would post another reminder about the jews having real life time machines which they have been showing off to me using their "media" (mostly).
Here's the documentary again, which I found on amazon primevideo after already coming to the conclusion that particle accelerators might actually be time machines.
https://www.imdb.com/title/tt0867212/
If particle accelerators are actually time machines, my mother may have actually received a tour of the large hadron collider, because she has been to both France and Switzerland during the same trip and my brother even lives in one of ze countries now. The official reason for her visit was to attend a "patent" conferance. 🤷‍♂️
Dialogue from the Ark Society level of Hitman 2 which mentions "patents" - https://streamable.com/chxs6p
"You see they are sitting on some patents that will knock your socks off."
"Weather control systems."
"Recycling pollution as fuel."
"Cold fusion. You name it."
Satan is naming their time machines too. 🤣
Anyway, she visited one of zose countries again (to visit my brother) and that too without telling me. I told her not to go because of the expensive plane tickets (she has been pretending to be "poor" all these years. well, not THAT poor. "middle class" poor. 🤣). I certainly considered the plane tickets expensive. It cost more than 1 lakh rupees (1,00,000) for a two way trip (which I considered to be a lot at that time). So if I would have gone too, it would have been more than 2 lakh rupees ( rupees are also jewish apparently ). Money that could have been spent on other things (jews have been emailing Satan recently with suggestions like "spend money on experiences, not things". 🤣). Of course, now I think money and the financial system is fake and designed exclusively for Satan but only YOU will know whether that is the case or not. 🤷‍♂️
Oh, and because she was planning on going without telling me, she even agreed to give me some "mummy money" (20,000 rupees) to buy some "pyramid scheme money" (bitcoin) which I then used to buy an antminer s1. Pretty neat pyramid scheme, huh? Has cool miners and everything. 🤣
Anyway because they have time machines, jews not only know what I am "sinking about" right now, but they also know what I will be "sinking about" in the future. 🤣 Check my previous posts and reminders about their mass surveillance tech if you don't know what I am talking about (once again assuming/pretending that everyone in the world doesn't already know who I am and already know about the existence of time machines and other advanced tech). 🤷‍♂️

Moar Satanic Rambling

I mentioned amazon above. They recently VERY actively participated in the "Q psyop" by showing the following riddle to Satan/me in a "riddle quiz" (or whatever you want to call it) that they had in the "fun zone" section of their app. Here's the riddle as I remember it.
"I usually follow Q. But not in QATAR. I come twice in queue. What letter am I?"
I bet they were hoping that I would correctly answer it, but I unintentionally answered it incorrectly as "E". Otherwise it was supposed to be "U". You know, "QU". "Q you". Calling me Q. Q from LGBTQ. 😐
Anyway, I didn't even look at the list of answers properly and had very quickly decided that the answer was "E" because in my mind I imagined the letters going from left to right (in a queue 🤣) and the answer would have been "E" in that case. The letter "E" would have been following "Q". By the way, there is no "E" in any of my real life names but there is one in "JEW". 🤣 Maybe that's why a jewess was pretending to be a bot and other jews were referring to her as EBOT in the Q research 8chan board (mentioned in one of my old posts). They were spelling "ABOT" as "EBOT". 🤣🤷‍♂️
I am also guessing that "QATAR" in the above riddle is supposed to mean something since it was in all caps. "Q a rat" maybe (country names are fake apparently, as I mentioned in my previous post)? Like the rat from the movie Ratatouille? 🤣 Even my mother was once mispronouncing Qatar as "Quatar", and I corrected her saying it's QAtar and not QUatar. But yes, once again, "QU" or "QUA" (Q you, A). 😐 Like I mentioned in my previous post, I now believe she is also a "psyop" participant and she continues to actively participate in the psyop.
Just recently she threw away a pack of masala powder just to make me angry. I had already started cooking when I realized that the pack was missing. At first I thought she may have just hidden it, so I searched everywhere but when I couldn't find it I realized she had mostly likely thrown it away. I am not talking to her at all right now (for obvious reasons 😐) but did manage to indicate that I was angry because of the missing masala powder (not that she didn't already know. it was part of the "plan". trust the plan. 🤣) and she eventually admitted that she had thrown it away, apparently because the pack was "completely open". There were long expired packs of various masala powders lying around (still are) that were actually "completely open" that she didn't bother to throw out but she threw away a brand new pack that I had bought. 🤷‍♂️
Should also mention that everytime I brought up the "psyop", her dialogue was something like, "Internet people are tricksing you-internet people are tricksing you". 🤣🤷‍♂️ "Internet people" are "tricksing" me apparently. 🤣 Well, I am translating but she was using the word "tricks". 🤷‍♂️
I believe I have also figured out what one of my real life names actually means. One is supposed to be calling me an "objectophile" (like "QU". "Objectophile U".) and the other one (the one in my birth certificate, ID cards, etc.) is supposed to mean something like "You are a fool/simpleton, devil". Any jew here willing to confirm? 🤣
Anyway, as jews already know, I think it's okay to be a fool/simpletion but not okay to be evil. Who goes to hell? A fool/simpleton or someone who is evil? <- "Q" style questions. 🤣
As I mentioned in my previous posts, I believe ALL jews are evil. Especially if all of them indeed know who I am and have been watching me all these years. 😐 Someone was even posting on 8chan saying something like, "we are not evil. promise...". Watch a compilation of everything you have done to Satan all these years if in doubt about the fact that you are evil. I am assuming you have recordings. Or did the jewesses who run the jew world delete them from the face of the Earth and are now claiming that some of the things that I have been "sinking" about never happened?
Other than that they have continued to do shit like male genital mutilation and abortions despite having time machines and knowing in advance that Satan will be anti-male genital mutilation and anti-abortion. Assuming that abortion is real of course. I haven't seen it with my own eyes after all (just like my mother says that she DOES NOT believe that god exists just because she hasn't seen god with her own eyes. heard the same thing from others. 🤣). I even remember someone posting pro-abortion shit in the 8chan Q research board. Something along the lines of "if you want to buy a gun, do it. your choice, pro-choice...". How about "if you want to do the apocalypse, do it. your choice pro-choice", hmmm? Besides, jewesses who have had abortions could have "chosen" to not have sex. If abortions are real, I am guessing there are many jewesses out there who have had abortions by the time they were 30.
Satan is 30 years old in his current human form and is a virgin. 🤣 Even the "Virgin" brand is referring to Satan. Yes? Also figured out recently that the "Coca Cola" brand is referring to Satan also. Bought an "(allocacoc)[https://www.allocacoc.com] powercube" and found the name odd initially but realized that it was Coca Cola spelled backwards with an extra "L" and knew it was supposed to mean something. Later saw one of those "coke and mentos" videos on youtube again and finally realized what it is supposed to mean. "Coca Cola" is supposed to be "A Cola Coc". "Cola" is supposed to be "কলা". It's supposed to be referring to Satan's dick. That's why there were those "muh dick-muh dick-muh dick" posts on the 8chan Q research board. Yes? 😐
Anyway, if the "Coca Cola" brand was indeed established in the year stated in wikipedia then it would seem that the jews have had time machines for the past 100 years at least.
I have also realized that "muh dick" is also partially mutilated and my mother lied to me about that also. Claimed to have taken me to the nurse because she noticed "pus" was coming out of my dick and the nurse did some "cutting". Said that there would have been "कष्ट" after marriage otherwise. Had no idea at the time what she was talking about, but perhaps she meant that a lesbian jewess might have found my unmutilated dick "ugly"? 🤣 Watch that "Nip/Tuck" episode#Episodes) and that "South Park" episode defending male genital mutilation if you have no idea what I am talking about.
What if jews force their senior citizen parents to get a face lift, nose job, liposuction, or whatever without anaesthesia? And say shit like "we are only doing it to make you look beautiful so that you don't have any "कष्ट" if you decide to get married/remarried or so that you are invited to more lemon parties"? 🤣 They can use their mind control tech to wipe the memory of the surgery afterwards if necessary (or use roofies if they are real 🤣). Can even invite people to witness the surgery and they can say "mazel tov", "oy vey", or whatever it is they say after a "bris".
Now, I don't know if "brises" are real because I haven't seen one with my own eyes. I have however seen a "fully mutilated" dick when I was a kid (3rd grade). It was in the school (a different school, not the one I mentioned in my previous post) bathroom which was just a "shed" with a drain in it (was the female bathroom also just a shed with a drain in it? There was even a South Park episode about school bathrooms but in their case the bathroom wasn't just a "shed" now, was it? 🤣). Anyway, I assumed that I had seen a catheter "wrapped" around his dick as I had heard about catheters by then but did not know what they looked like or how they worked. I asked the kid why his dick looked different assuming that he would confirm my theory that he was peeing using a catheter. But he replied saying that it's because he is "muslim". It was an odd explanation I thought, and even asked my mother that day and she didn't bother to explain it either.
Even after that incident I didn't know about "male genital mutilation" for years. But eventually "real time" told me. But even then I didn't know that even my dick was partially mutilated but "real time" has now told me about that too. 🤷‍♂️
Well, jews were also posting a "render" (I think) of an unmutilated dick on 8chan and someone on voat replied to a comment of mine saying something like "No one actually knows what an unmutilated dick looks like" which I only recently saw. Could have just said something like, "Your dick is mutilated too, Satan" but whatever. 🤷‍♂️

Video games

Already mentioned a video game above, but will be mentioning moar video games here under this heading. As I mentioned in my previous post, they are also using their time machines when making video games. I also mentioneded that I could be living in a simulation for all I know and you could all be NPCs. Later I remembered a video game that I didn't play just because the story/plot had "simulation" in it. I then checked out the plot again on wikipedia and noticed that it mentions "time travel" also. 🤣
https://en.wikipedia.org/wiki/Saints_Row_IV
The game's loyalty missions impact the ending of the story: if a number of these are not completed, the Boss makes plans for the Saints to take over more planets and expand their new empire; however, if all are completed, the Saints learn that they can restore Earth using time-travel, discovering that Zinyak captured several historical figures and placed them in suspended animation. The Boss soon discovers one of them to be 19th century writer Jane Austen, whom they are a fan of, and who reveals herself as the narrator of the game's story once she is awaken her from stasis.
There's also the following DLC where Satan is mentioned. 🤣
https://en.wikipedia.org/wiki/Saints_Row:_Gat_out_of_Hell
I have both the game and the DLC in my Steam library but have never played them. I bought them during a sale or something. They were being sold as a bundle (Humble Bundle maybe) but I was only interested in Saints Row The Third.
I should also mention The Witcher 3: Wild Hunt. The game has some cannibal witches who eat kids (they ate grown ups too; they didn't discriminate. 🤣). And the witches were shown to possess "mass surveillance" capabilities, but they were using magic. They would nail human ears to trees or something. Satan chose to free that tree spirit the first time he played that mission but later noticed the tree spirit did not get rid of those "ladies" for some reason. Plot hole?
Anyway, I read right here on /conspiracy that jews apparently eat aborted babies. It was the "Robert David Steele AMA" I believe.
Were you jews hoping to tell me that you don't really eat aborted babies and I only believed it because I am gullible? There was even a South Park episode recently where there was the dialogue "well, we don't eat them...", but they were talking about cows. Were they actually talking about aborted babies? There was also the dialogue "...nobody wants to do it...". Nobody wants to do abortions but do them anyway because jewesses auto-magically get pregnant (like Satan used to think when he was a kid)? Also, there is a dialogue in a "Penny Dreadful") episode where a witch who does abortions and is called a "cut-wife" says something like "this village needs its cut-wife...". Why did the village need a "cut-wife"? Because the jewesses living there were auto-magically getting pregnant even though they didn't have sex? 🤔
Unforuntately for the jewesses who run the jew world (who are no doubt like those "ladies" of the wood), there are also stories like (Hansel and Gretel)[https://en.wikipedia.org/wiki/Hansel_and_Gretel]. Even my own mother used to try and scare me when I was a kid saying things like "juju buris (বুড়ি) kidnap kids in burlap sacks..." or something. 🤷‍♂️

TV Shows

Already mentioned TV Shows above, but will mention more here.
I recently remembered the cartoon "Pinky and the Brain" and realized they are also supposed to be depicting Satan. Check out the opening theme and the lyrics - https://www.youtube.com/watch?v=qzZmU0aGmcc
They even show Saturn crashing into Earth during the part where they sing "by the dawning of the sun, they will take over the world". 🤣 There's also "to prove their mousey worth, they will overthrow the earth...". 🤣 Satan is dinky apparently. 🤷‍♂️
At the end of the opening theme there is even the name of an openly-jew jew mentioned ("Steven Spielberg"). If you are a "poor" jew who doesn't know about the existence of time machines and other advanced tech that "rich" jews have, maybe you can ask him what he knows.🤷‍♂️
Also mentioned in my previous posts that I am also supposed to be Jesus and there is this scene from an episode of The Simpsons - https://streamable.com/oumsad
The scene was actually censored when airing on a local TV channel and I even mentioned it to a desi jewess who was "sent" to chat with me. Looking at "muh chatlogs" is how I remembered that scene. 🤣
The jewess was trying to pretend to be psychic or something. She was even telling me about my future which I had totally forgotten about. I did remember that she asked me if I believe in "astral projection". I said no, so she dropped the subject. Otherwise I am guessing she would have claimed to be able to see me using "astral projection" and not because all jews are watching me like Truman from The Truman Show.
I also remember another jewess who was "sent" to chat with me and she was asking me if I had read Harry Potter and knew what a "prophecy" was. When I said yes and used "भविष्यवाणी " to define "prophecy" she dropped the subject. 🤣 She was claiming to be studying to be a psycho-logist and was repeatedly asking me "How do you feel-How do you feel". 🤣 I had no idea what she meant at the time, but now I know (thanks to "real time") that it's just something that psycho-logists say. 🤣 No doubt that was the first thing she learnt at "psycho-logy school". 🤣 Satan is a psycho apparently. 🤣🤷‍♂️
Oh yes, I was talking about The Simpsons. I remember seeing posts right here on /conspiracy speculating whether The Simpsons creators know about the existence of real life time machines because many episodes seem to depict future events. Well, no need to speculate any longer, they do have real life time machines. But it's not just The Simpsons creators. It's all jews. Be it Hollywood, Bollywood, Tollywood, etc. Maybe you can even ask them during comic-con or something if you are a "poor" jew and do not know about the existence of real life time machines.
I now also believe that the boat painting in The Simpsons living room is based on something that Satan painted not long after the shit stick incident. After the shit stick incident that I mentioned in my previous post, my mother agreed to reconnect our TV cable connection on the condition that I attend a religious summer school. That's where I painted a ship which was supposed to be like the ships from Assassins Creed Black Flag. It was supposed to be an art "class" but there was only one and they were like "paint whatever you want to paint". Were they expecting Satan to paint something Satanic? 🤣 I remember the kid next to me was painting an alien. Large sheet of paper but he was painting a small alien in the middle of it leaving the rest of the sheet blank. 🤷‍♂️
Anyway, in case of The Simpsons, the painting is that of "a boat" (wink-wink-nudge-nudge?) but it's very similar to the ship painting that I painted. If you really do not know about the existence of time machines and other advanced tech maybe you can even ask the creators of The Simpsons (in the next comic con or something). You can say something like "a conspiracy nut on /conspiracy claiming to be Satan was also claiming that you have real life time machines and the boat painting is based on something he painted at a religious summer school after a shit stick incident and that you got rid of the Apu character because he wanted The Simpsons cancelled because he got the impression that you were being anti-Trump and pro-Hillary...". 🤣🤷‍♂️
Anyway, there was even a kid at the above mentioned summer school who was pronouncing "cheat codes" incorrectly. He was pronouncing "cheat" as "kheat". Was he acting like the actors from Truman Show and reading his lines from an "eyephone" teleprompter? Or was it intentional? 🤷‍♂️ By the way, the downstairs neighbours' kids were also there in that summer school and they would have at least heard the shit stick incident. Yes? I believe they also knew about the "psyop" and could have told Satan but didn't. How are you jews trained to participate in the "psyop" anyway? Are you sen't to special "psyop schools"? 🤣🤷‍♂️
In one of my previous posts that was deleted by a mod, a jew had commented asking me whether I was a little girl because I had used so many "emojis", so let me mention the cartoon "The Grimm Adventures of Billy and Mandy" also. All three of the main characters are also supposed to be depicting Satan, including Mandy. Check out her devil horns like hairstyle. 🤣
There is also this song from the show. https://www.youtube.com/watch?v=yui4zkZQwCA
It has the lyrics "if at first they think it's strange, they wont think twice once I've eaten their brains".
Jews thought that if Satan thinks all the evil shit they do is "strange", Satan wont think twice after they manage to figuratively eat his brain? They were also posting this image on 8chan. Yes, Satan has been "fucked by psyops" because physical wounds heal apparently. Not that jews haven't caused physical wounds also but they always end up healing. 🤣

Movies

Scene from the movie "My Favorite Martian" referring to Satan's zipper incident - https://streamable.com/n3e30i
Was four or five years old when it happened. The zipper of the shorts that I was wearing, got stuck on my partially mutilated foreskin. I was crying in pain even though there was no bleeding. Jews most likely have a recording of this incident also (if they haven't deleted). Later the same nurse who most likely mutilated my dick was telling me to wear underpants as if I could conjure them out of thin air.
I didn't wear underpants back then and didn't even for years after that incident. Now I wear "square" underpants, which is why there is "Spongebob Squarepants" (I am also supposed to be Patrick). 🤣
Anyway, jews know about the zipper incident too but are continuing to perform male genital mutilations anyway. Yes? Perhaps they are like, "another benefit of having a fully mutilated dick is that you don't have to worry about zipper issues". 🤣🤷‍♂️

Music

Jews are using their time machines even in the music they produce.
My motorcycle that I mentioned in my previous post was seized by the cops (I used to think that the local cops are useless but now I think that they are just fake) using "Coronavirus" as an excuse. And when recently looking at the details of the "Foghat" album "The Best of Foghat", I noticed the song with the title "Third Time Lucky (First Time I Was A Fool)". I have been to the cops twice to get back my seized motorcycle. First time I went was on April 1 (april fools day). I was planning on not going a third time and just let the fake cops keep my motorcycle. After all, they are jews, the motorcycle was made by jews and even the money I used to buy the motorcycle was "jew money". And I noticed that there is also the song with the title "Take It Or Leave It". 🤣 Oh, and now I see that there is also one with the title "Easy Money". 🤣
The name "Foghat" itself is most likely referring to how Satan's helmet gets foggy sometimes. Yes? 🤔🤷‍♂️
Anyway, wasn't able to pass much time with the bike anyway. It was only making me spend fake jew money on fake expensive fuel. Not to mention the trips to the service center. It needs servicing every three months apparently. So, I am thinking I will leave it with the fake cops. What do you jews think? Is it a good plan? Trust the plan? 🤔
Oh yes, the second time when I went to the cops, they gave me a phone number and asked me to call it (I didn't) and also gave me a fake name when I asked for one. Which I now think is supposed to mean "You are Satan, pal", kinda like that South Park episode about mormonism ("moronism"; Satan is a moron apparently; Amaron) where Cartman was like "My name is Yura, Yura Fag". 🤣 If yes, then here is a message for the fake cop who gave Satan the fake name, "Satan is not your pal, gal". 🤣
Yes, the second time the fake male cops were gone and there were only two jewesses. The male cops are in "isolation" apparently. 🤣 I was wondering if I should have shown them that clip from The Simpsons where Chief Wiggum says something like, "look at my badge. cash bribes only..." because most of them are fat or chubby. And because I used to think that all the local cops were good for was scaring and threatening people and asking for bribes. 🤣 The second time there was only one male cop (a gatekeeper or something, who got brave and was rude to Satan) and this time they made sure that it was not a fat one. 🤣 Anyway, I can make fun of the fake fat cops (many of whom have "pregnant" bellies. men and women are equal so men are also able to get pregnant. those cops were actually pregnant. yes? 🤣) just by "sinking" about it. How cool is that? 🤣
I also remember that South Park episode now where they were calling bikers "fags"). Original air date is 2009 whereas Satan bought his bike in 2019. So yes, you can ask them about the existence of real life time machines and other advanced tech also. 🤷‍♂️
Recently Satan has been passing the time "code monkeying". That's why the 8chan administrator is called "code monkey", yes? I have been playing with "CodeIgniter" and there is "psyopy" content even in the "CodeIgniter" documentation.
use CodeIgniter\Controller;
class Helloworld extends Controller { public function index() { echo 'Hello World!'; }
public function comment() { echo 'I am not flat!'; } }
Yeah, the world is not flat apparently but since I haven't seen it with my own eyes I probably should not believe that it's round. Yes? 🤣🤷‍♂️
Well it doesn't really matter if the world is round or "flat". What matters is that if everyone in the world knows me then unfortunately for you, you are all evil. And it's actually more unfortunate for you if you are not NPCs. You know what I am sayin'?
By the way, is Satan's "Mann ki Baat" being broadcast to everyone in the world uncensored or should he write down more of his "mann ki baat"? 🤔 Like how he has been "sinking" to Ubisoft whether the "apocalypse" comes under "everything is permitted". Feel free to comment here with your reply Ubisoft.
Mind-wiped Satan now thinks total apocalypse (get it? total apocalypse. kinda like total eclipse but apocalypse instead of eclipse) is necessary and since he is addicted to TV shows, movies, video games and the internet apparently (all jew media), it would be the unselfish thing to do (assuming it's up to him to do the apocalypse). Yes?
Satan has been trying to be "sober" though. No TV shows, movies or video games for the past two months. Did not renew his 100mbps internet connection either. Let's see how long the lockdown can continue. 🤣🤷‍♂️
It's Saturday and Satan managed to spend hours writing the above post. 🤣
submitted by rcspy to conspiracy [link] [comments]

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