What is ASIC and How it is Taking Over Bitcoin Mining ...

The next XVG? Microcap 100x potential actually supported by fundamentals!

What’s up team? I have a hot one for you. XVG returned 12 million percent in 2017 and this one reminds me a lot of it. Here’s why:
Mimblewimble is like Blu-Ray compared to CD-ROM in terms of its ability to compress data on a blockchain. The current BTC chain is 277gb and its capacity is limited because every time you spend a coin, each node needs to validate its history back to when it was mined (this is how double spending is prevented). Mimblewimble is different - all transactions in a block are aggregated and netted out in one giant CoinJoin, and only the current spending needs to be verified. This means that dramatically more transactions can fit into a smaller space, increasing throughput and lowering fees while still retaining the full proof of work game theory of Bitcoin. These blockchains are small enough to run a full node on a cheap smartphone, which enhances the decentralization and censorship resistance of the network.
The biggest benefit, though, is that all transactions are private - the blockchain doesn’t reveal amounts or addresses except to the actual wallet owner. Unlike earlier decoy-based approaches that bloat the chain and can still be data mined (XMR), Mimblewimble leaves no trace in the blockchain, instead storing only the present state of coin ownership.
The first two Mimblewimble coins, Grin and Beam, launched to great fanfare in 2019, quickly reaching over $100m in market cap (since settled down to $22m and $26m respectively). They are good projects but grin has infinite supply and huge never-decreasing emission, and Beam is a corporate moneygrab whose founding investors are counting on you buying for their ROI.
ZEC is valued at $568m today, despite the facts that only 1% of transactions are actually shielded, it has a trusted setup, and generating a confidential transaction takes ~60 seconds on a powerful PC. XMR is a great project but it’s valued at $1.2b (so no 100x) and it uses CryptoNote, which is 2014 tech that relies on a decoy-based approach that could be vulnerable to more powerful computers in the future. Mimblewimble is just a better way to approach privacy because there is simply no data recorded in the blockchain for companies to surveil.
Privacy is not just for darknet markets, porn, money launderers and terrorists. In many countries it’s dangerous to be wealthy, and there are all kinds of problems with having your spending data be out there publicly and permanently for all to see. Namely, companies like Amazon are patenting approaches to identify people with their crypto addresses, “for law enforcement” but also so that, just like credit cards, your spending data can be used to target ads. (A) Coinbase is selling user data to the DEA, IRS, FBI, Secret Service, and who knows who else? (B) What about insurance companies raising your premiums or canceling your policy because they see you buying (legal) cannabis? If your business operates using transparent cryptocurrency, competitors can data mine your customer and supply chain data, and employees can see how much everyone else gets paid. I could go on, but the idea of “I have nothing to hide, so what do I care about privacy?” will increasingly ring hollow as people realize that this money printing will have to be paid by massive tax increases AND that those taxes will be directly debited from their “Central Bank Digital Currency” wallets.
100% privacy for all transactions also eliminates one HUGE problem that people aren’t aware of yet, but they will be: fungibility. Fungibility means that each coin is indistinguishable from any other, just like paper cash. Why is this important? Because of the ever-expanding reach of AML/KYC/KYT (Anti-Money Laundering / Know Your Customer / Know Your Transaction) as regulators cramp down on crypto and banks take over, increasingly coins become “tainted” in various ways. For example, if you withdraw coins to a mixing service like Wasabi or Samourai, you may find your account blocked. (C) The next obvious step is that if you receive coins that these chainalysis services don’t like for whatever reason, you will be completely innocent yet forced to prove that you didn’t know that the coins you bought were up to no good in a past life. 3 days ago, $100k of USDC was frozen. (D) Even smaller coins like LTC now have this problem, because “Chinese Drug Kingpins” used them. (E) I believe that censorable money that can be blocked/frozen isn’t really “your money”.
Epic Cash is a 100% volunteer community project (like XVG and XMR) that had a fair launch in September last year with no ICO and no premine. There are very few projects like this, and it’s a key ingredient in Verge’s success (still at $110m market cap today despite being down 97% since the bubble peak) and why it’s still around. It has a small but super passionate community of “Freemen” who are united by a belief in the sound money economics of Bitcoin Standard emission (21m supply limit and ever-decreasing inflation) and the importance of privacy.
I am super bullish on this coin for the following reasons:
Because it doesn’t have a huge marketing budget in a sea of VC-funded shitcoins, it is as-yet undiscovered, which is why it’s so cheap. There are only 4 Mimblewimble-based currencies on the market: MWC at $162m, BEAM at $26m, GRIN at $22m, and EPIC at $0.4m. This is not financial advice and as always, do your own research, but I’ve been buying this gem for months and will continue to.
This one ticks all the boxes for me, the only real problem is that it’s hard to buy much without causing a huge green candle. Alt season is coming, and coins like this are how your neighbor Chad got his Lambo back in 2017. For 2021, McLaren is a better choice and be sure to pay cash so that it doesn’t get repossessed like Chad!
  1. A https://www.vice.com/en_us/article/d35eax/amazon-bitcoin-patent-data-stream-identify-cryptocurrency-for-law-enforcement-government
  2. B https://decrypt.co/31461/coinbase-wants-to-identify-bitcoin-users-for-dea-irs
  3. C https://www.coindesk.com/binance-blockade-of-wasabi-wallet-could-point-to-a-crypto-crack-up
  4. D https://cointelegraph.com/news/centre-freezes-ethereum-address-holding-100k-usdc
  5. E https://www.coindesk.com/us-treasury-blacklists-bitcoin-litecoin-addresses-of-chinese-drug-kingpins
  6. F https://www.youtube.com/channel/UCWkTxl5Z6DNN0ASMRxSKV5g
  7. G http://epic.tech/whitepaper
  8. H https://medium.com/epic-cash/epic-cash-on-uniswap-22447904d375
  9. I https://epic.tech/wp-content/uploads/2019/09/figure-3.1.jpg
Links:
submitted by pinchegringo to CryptoMoonShots [link] [comments]

That time I nearly followed my younger brother's footsteps and almost OD'd on an Opioid/Benzo mix! Maybe not the most pleasant experience for one's body, but my mind got altered forever afterward! LONG ASS POST BUT A MUST READ!

Heya guys,
I wrote about this last Sunday on Facebook simply because the thought popped into my head, the thought that I had never really thought about aside from the moment I managed to put fussy bits and pieces together from what I then experienced as somewhat of a blackout but in the end realized was something entirely much larger than anything I have ever come in contact with prior or since then!
I want to share this with you guys. It's maybe a difficult read at first, it going into detail about my near-death experience and one breath away from being an OD, but bear with me, it turns into something so much more if you just hang on and read what I write!
This is exactly what I remember happening, how I remember it happening. Me for some reason not remembering this right away but having to work this memory as the biggest, most complex Jigsaw puzzle in the world for maybe around 3 weeks in total inside my mind in order to put everything together into a whole image I can share with you guys!
The only thing you guys have to know before you read this is that 22nd November 2016 my younger brother, 18 years old, OD'd on Codeine and Zopiclone, dying an Opioid/Non-Benzo overdose. Me being woken up that morning, walking outside of my room and noticing there being around 10 both cops and EMTs on the scene. I was so confused as to what had happened that I had to see it for myself, and as I walked to the door to his room and turned my head around the corner, I saw him. My sweet baby brother lying there, cold as a popsicle, dead on his floor. My father having tried CPR for the entirety of those 40 minutes it took the ambulance to reach us. That was it. I'm done talking about the hardest day of my entire life, you don't need to know more. Aside maybe from my brother's name, it being Elias.
So it basically started in either late December or early January 2017-2018, with me driving some friends around who then picked up some people and before I knew it the friends had departed from my car and I was just surrounded by some people I had no idea who even were. I had recently lost my apartment and was on the streets, just living in my car, for the most part, sometimes my mother supported me with some nights at a hostel, but mostly I slept in my car.
After a while, all the people cycle out of my car and I'm left with this one, maybe around 35, dude who for some reason was just a jolly fucking roger and somehow managed to always be pleasant in conversation. Very charming and so fucking nice that I could have brought him home to my parents without being gay and my parent's not even noticing him being a dude so they wouldn't resent me for "coming out of the closet"...
He asked if I could take a small car ride with him out of town. I had nothing to do so I just said "Why the fuck not? I don't have any other place to be!" This was very late at night and we drove to some remote place I had never been to and didn't even know existed until just then.
He offers some junkies that are waiting for us to enter the car, it being freezing outside, it being like -30°C outside. They handed him a small package of something and he handed them some cash. They counted the cash and left. We stopped a few times in the side of the road after that on our way back to the city, the first time him revealing what it was he was actually buying from those junkies.
He opened the box in front of me and pulled out something that looked like a patch or something, him saying that this was a 100µg Fentanyl patch which he then cut just a little piece from and vaped on aluminum foil, sitting there next to me in the car.
I had never seen anything like it, that it was possible to ingest some sort of bandaid in this manner. That there were Fentanyl patches going around my town and how absolutely SMASHED he got from inhaling some vapor from that aluminum foil.
I didn't think much of it and dropped him at home. A few days later he calls me and asks me to come to the head shop he owned back then and ran alongside his father, who really did all the work, this guy only spending the profits on, apparently, Fentanyl and Oxy and some shit like that. He said he was gonna show me something special.
I, again, was homeless, so I just thought to myself: "Where else would I go? At least there I have a roof over my head!" but decided to have one of my best friends back then with me as backup as I didn't know what I was about to walk into.
We arrive at his shop and, there being something about this guy, his personality being absolutely one of a kind, we talked and joked some, until he drags up a glass pipe and this package of 5x Fentanyl patches as well. He then gets his scissors and starts cutting these tiny ass pieces off one of the patches he had, puts it in the pipe along with some tobacco and takes a hit.
He then offered me and my friend some. Each of us just got in line thinking: "YOLO!!!" And each of us took some hits and I got to experience the single most absolutely gorgeously and best highs of my entire life! It felt amazing just getting a hit from a tiny bit of this patch. The piece he'd put into the pipe each time being so small that if you'd put it on the table, you'd never find it again!
But while I felt how amazingly good it felt to breathe this shit in, I also, at the same time, felt how absolutely amazingly dangerous this substance was and how if it wanted to, it could kill me before I passed the pipe back to him if he didn't dose it correctly! It was so dangerous that I wanted to swear to myself to never do it after that night in question, but it being so fucking good as well that I lost that thought before I realized what I was thinking and just took another fucking hit of this best fucking high I've ever felt in my mind, body, and soul!
While we're smoking this stuff, my friend had some pills he was constantly offering me. I was in the mindset of a 12-year-old trying Weed for the first time, I just wanted to get the fuck fucked out of my skull. Fuck it, I was homeless, he was giving us hits of one of the most expensive drugs around here, he at least never asked us for any money in return, so what did I have to lose?
We partied like there was no tomorrow. At one point him offering us Oxy80 and me purchasing one pill from him, him crushing it down after having removed the film that's always on these pills and me and my friend splitting it, one line each!
I didn't really feel that much from it, maybe a little heat sensation in my legs, but nothing more. Our new friend all of a sudden asking if we had any Speed on us, me remembering that I had like 10 grams stored somewhere in my car, so I went outside to get it. I got locked outside for a while but they figured it out in the end and let me in.
When I handed him the bag of Speed he reached into some sort of purse and next thing I know he's holding a syringe with a needle on the end and him filling us with some bullshit about him rarely ever shooting shit up, him just needing to get some Stimulants into his arm because he had smoked too much Fentanyl.
He starts IV'ing in front of us and can I say and that buddy of mine confirm that seeing it so fucking up close and personal was one of the most horrifying sights I had never thought I would be witnessing at any point in my life. This guy being then the only guy I knew who injected his drugs at some point.
After that, he's feeling all better and gets a message from a Weed dealer friend of his and because I'm so fucked out of my skull, I ask my friend if he can drive, him somehow being able to take the wheel no matter how fucking fucked the both of us are and him driving perfectly in that condition.
We arrive in another part of town at this apartment block which was like 5 or 6 stories tall and was I told it was a part of the University's dorms that people could rent out if they attended the school, even though the actual school was actually somewhere around 30 kilometers THAT way... I never fully understood if it was correct that it was some sort of dorm for the Uni. Because it'd be a very strange place for that dorm since there were literally 30 kilometers to the University which was exactly in the other side of town, we couldn't have been farther from it, actually!
We take the elevator to the top and my friend sneaks me one pill, me just not ever giving it a second thought, just swallowing it whole and moving on. We enter an apartment on the top floor where this insane noise was coming from which sounded like a VERY loud vacuum cleaner but turned out to be an Asic Bitcoin Miner they were mining Bitcoin on for some bizarre ass reason.
Upon entering the apartment two guys greet us. I didn't know either of them but after a short while realized that one of them was the guy that had been accused of sexually molesting a friend of mine in her sleep, her going to sleep with her pants on, her waking up next to him with her pants off. I didn't know the whole story but when I met her after that night I told her where he could be found so she could have her goons do some street justice on his face, repeatedly, for having tried to rape a dear friend of mine.
Anyway, my friend notices a big glass jar sitting on the dinner table filled to the brim with Weed and probably the biggest fucking bong I have ever seen with my own two eyes sitting on the floor next to it. My friend asks if he can take a hit from it with some of his own Weed and does he get the owner's permission to do so. He takes a hit and then tells me to take a hit. I never having taken a hit from a bong before just try my best and without even a second thought I exhale this HUGE cloud of smoke which, according to my friend, "was the largest bong hit he'd ever seen in his life!!!" him almost thirty, having smoked Weed since he was 12!
I instantly feel absolutely smashed. But I still felt as if it wasn't just the Weed causing it, that there was something more at play as I just all of a sudden feel exhausted. I find myself a sofa or a bed or something to sit on and lean my head against the wall.
All of a sudden I realize what those pills my friend was always handing me actually were. Of course, had he bought like 50 Diazepam/Valium tablets from one of our friend's mother who was sometimes dealing more than an actual pharmacy would do on a good day. I realize that we were taking Diazepam, which is a Benzo, maybe a soft Benzo but still a Benzo, while we were smoking Fentanyl and snorting Oxy80 and shit. Me knowing for a fact that mixing Opioids and Benzos almost always leading to an overdose and sometimes, more often than not at least, death!
I feel like I need to make my friend aware of this little fact but before I knew it, my eyes just seemed to slowly slide shut, without me having to even think about closing them.
What I see under my eyelids, which usually is just this black background with this orgy of millions and millions of different colors on it, is all of a sudden just completely different! I see nothing! Absolutely nothing! There was no color, there was no background, there was no anything under my eyelids! I felt as if I was just looking right into the Void! That place where there is nothing and if something happens to go there it becomes nothing as well!
Me feeling my breath always getting slower and shorter, a short while being from that moment to the moment I feel insanely dizzy from little to no oxygen entering my lungs at that moment. My breath being so short that I could have counted a 100 Mississippi's in between those few short breaths I knew I had left.
I start betting on when my last and absolutely final breath is gonna kiss me goodbye and I'm just gonna die from respiratory depression like I've read about would happen in exactly this situation. I was feeling a little cocky, like I was taunting what I knew what was about to happen, me of course in the mindset that if I'm gonna die right then and there, I'd do so with a smile on my face! Me, of course, being more terrified than I had ever been before in my entire life! Basically counting down to my last breath where I'd suffocate and die without anyone at the party noticing anything being wrong.
I then start to see this little white star in the middle of all that nothingness I was looking at under my eyelids, this tiny little star that I somehow felt I was supposed to move my mind closer to. As I start doing so, moving my mind closer and closer to the star, all of a sudden my entire mind goes blank! I'm thinking nothing! I'm feeling nothing! Hearing nothing and I can't feel the fact that I have skin around my bones. I'm completely Depersonalized as I have never experienced before, me being basically a blank slate for some very odd reason.
I then start seeing visions of moments I had in the past with my little brother, Elias, before he died on me and left me to fend for myself in this cruel and unjust world we live in. Some of the things I saw were moments we spent together, moments I always remembered about him and loved to death, but others were these strange moments where I wasn't there and the only person able to remember something like that only being Elias himself!
I'm always moving closer and closer to the star, until I realize it's not a star but a big while circle! Although I can't hear anything, I can feel my little brother, as if he's talking to me, about Rocket League or some music he was producing or something like that he always used to talk about, it all coming from that white circle which was getting larger and larger by the moment!
I then feel just this overwhelming feeling that I'm standing right next to Elias, that I can feel his presence and can almost touch him!
Then when the circle is about to become as big as it possibly can, I feel this insane heat all around me, like the most compassion I have ever felt in my life, like anyone has ever felt in anyone's life! And then it happens. Whatever was going on peaked and I feel every sense of my body and mind feeling as though I'm experiencing Elias with every last thread of my existence, me smelling that smell that was always of him, that smell I always connected in my mind to him and his room, that safe haven where I could check on him at any moment during the week and spew whatever nonsense I had to spew over him and he'd always meet me halfway with more understanding than I had ever gotten from anyone else in life!
Then there was the taste! I could taste, or it wasn't exactly that I could taste it, it was more an emotion that I could feel in my entire mouth and tongue. I don't know what it was or felt like exactly but there was something about it which lead me to believe that Elias was just around the corner. Me feeling as though I was holding him in my arms, him holding me back, me getting that hug I always wanted to plant on him, that hug I never had the courage to give him when he was alive and was finally getting right there in that moment!
As I said, every sense of my being was feeling his presence in some way! Some significant fucking way and was I lead to believe that the big white circle, which was so close to me I could almost smell it, had something to do with my sweet Elias and that he was probably inside that big fucking white circle. Him waiting eagerly to meet me again, me getting ready to kick the door that this circle actually was the fuck down because I was so fucking ready to see my best friend in the whole world again. Me just knowing that if I tore the door down, we'd meet again and spend the rest of time together, in each other's loving embrace!
I know what I'm supposed to do! I'm supposed to enter this big ass white circle! And at the exact moment I had, I get pulled the fuck back by some unknown force. I try entering again but the same thing just happens. I get pulled the fuck back! So for the third time, I try and I put everything I have left into it! It resulting in me getting pulled so far back from the circle that it started looking like this white little star again in no time!
All of a sudden I stop feeling all those ridiculously strong emotions and sensations, I re-enter reality once more and there it the moment I was betting on before! I just know by how my lungs felt like they had been in a huge vehicular crash that this is the last one! This breath that's coming up is the last fucking breath I'm ever going to breathe! I just know it in every fiber of my being!
I'm starting to like the feeling that this is it. That I'm about to leave and never come back! That once and for all, this was how I was gonna die and even though for having tried to off myself a million times in the past, it never appearing to work properly, but it working now and I was finally gonna get a break from all the suffering which is almost the only emotion I have ever felt in my life and was gonna get to see some peace!
When something hits me like I'm getting a hit from defibrillators, all of a sudden I just get this intense shock all over my body and feel my body in its entirety jump from that bed or sofa I was sitting on, my eyes finally opening up, me having to open them myself, even though that was the hardest fucking thing I have ever had to do in my entire life, it felt as if there were billions of tons of lead sitting on my eyelids, me barely being able to lift them just enough to see what's going on right in front of me.
I just know and feel that I'm standing in my own two feet and am I able to walk out of the apartment, out to the open stairwell where the elevator was located and as I open the door outside I just feel the freezing cold air filling my lungs, both my insanely short breath becoming longer and stronger, along with my heartbeat beating over those two beats per minute I had felt it was doing earlier.
For some reason, almost exactly as I feel like I can finally take a deep and good breath again, that I'm not suffocating from the inside, the party is over and do my friend and that Fentanyl guy walk outside and meet me, me having been feeling like I was about to die just moments prior, walking into the elevator and then into my car.
The Fentanyl guy asked if he could drive, I was still recovering from the fact that I was just about a nanosecond from dying inside some guy's home I had never met before, so I tried to utter something that he took as a yes and as I layed in the back seat on the way to his headshop again, him driving like he was absolutely retarded, him never having taken any sort of driver's test, me terrified the whole time in the back that I was gonna maybe experience something like I just did again but after a car crash, it being a miracle that there were no cops around because they would have seen by how the car was driven that either he had never driven a car before, someone was drugged out of hist fucking skull under the wheel, or both, which was exactly the case!
We get to the headshop and I just pass out on the couch, waking up an hour later with his dad standing over me holding a piece of aluminum foil which had obviously been used as something to vape Fentanyl from and asked me like I just fucked his wife: "WERE YOU GUYS SMOKING FENTANYL IN HERE ALL NIGHT????"
Me just trying to say something, trying as hard as I could, in the end just walking out of the shop, realizing that my phone was dead and I didn't have my charger while my car wasn't anywhere to be seen on the parking lot.
I was fucked! I had nothing to do, nowhere to go and my apartment had just been stolen! Everything after I almost died from an overdose the night before. I couldn't believe how much of a shit I would have become and promised myself never to reach such a low fucking place, while I cried and bought a new charger at the mobile phone store that was next door to the headshop....
So yeah! That's the story I wanted to tell you! What do you think? Me reaching a new low point in my life, me never having gone so low before and never having gone so low after this happened, thank fucking god!!!
To me, all I experienced about my sweet brother Elias, all the emotions, the sensations, the feelings, everything, was my mind realizing that I was about to die and in order to make sure that I didn't suffer as much as I could have, it administered something like a pretty fucking strong DMT trip or something like that to soften the impact that dying would have been!
This being very similar to every single story I have ever heard about people who have either died or escaped death by the skin on their ass. It almost being exactly like some stories, life flashing before you, you seeing some loved one's, feeling intense and otherworldly emotions and feeling you didn't think anyone was capable of feeling. Even the "tunnel of light" some people talk about was there in the form of my white circle!
I gather that I was about to die, was gonna die, had basically written in hell's guestbook already, but something, probably just my body not accepting this death I was about to experience, it making a break for it in the end, which was what saved me!
Even though I sometimes hate my body and even recently got diagnosed with type 2 diabetes, I must admit that you, body, you're all right!
I want this tale to serve as a cautionary tale to anyone and everyone who has thought about mixing Benzos and Opioids! Along with being just me telling anyone and everyone who cares to hear it to stay the fuck away from fucking Fentanyl!
Don't do it! I beg you! Don't even think about touching the Fent! Please! Do it for me!
I hereby wish you all a happy Friday as writing this whole thing took me like two and a half hours or so, it having been Thursday when I started!
Peace and love to you and everyone you care about and love!
Sincerely yours, Russel Dunbar!
submitted by RusselDunbar to Drugs [link] [comments]

That time I nearly followed my younger brother's footsteps and almost OD'd on an Opioid/Benzo mix! Maybe not the most pleasant experience for one's body, but my mind got altered forever afterward! [X-Post from /r/Drugs]

Heya guys,
I wrote about this last Sunday on Facebook simply because the thought popped into my head, the thought that I had never really thought about aside from the moment I managed to put fussy bits and pieces together from what I then experienced as somewhat of a blackout but in the end realized was something entirely much larger than anything I have ever come in contact with prior or since then!
I want to share this with you guys. It's maybe a difficult read at first, it going into detail about my near-death experience and one breath away from being an OD, but bear with me, it turns into something so much more if you just hang on and read what I write!
This is exactly what I remember happening, how I remember it happening. Me for some reason not remembering this right away but having to work this memory as the biggest, most complex Jigsaw puzzle in the world for maybe around 3 weeks in total inside my mind in order to put everything together into a whole image I can share with you guys!
The only thing you guys have to know before you read this is that 22nd November 2016 my younger brother, 18 years old, OD'd on Codeine and Zopiclone, dying an Opioid/Non-Benzo overdose. Me being woken up that morning, walking outside of my room and noticing there being around 10 both cops and EMTs on the scene. I was so confused as to what had happened that I had to see it for myself, and as I walked to the door to his room and turned my head around the corner, I saw him. My sweet baby brother lying there, cold as a popsicle, dead on his floor. My father having tried CPR for the entirety of those 40 minutes it took the ambulance to reach us. That was it. I'm done talking about the hardest day of my entire life, you don't need to know more. Aside maybe from my brother's name, it being Elias.
So it basically started in either late December or early January 2017-2018, with me driving some friends around who then picked up some people and before I knew it the friends had departed from my car and I was just surrounded by some people I had no idea who even were. I had recently lost my apartment and was on the streets, just living in my car, for the most part, sometimes my mother supported me with some nights at a hostel, but mostly I slept in my car.
After a while, all the people cycle out of my car and I'm left with this one, maybe around 35, dude who for some reason was just a jolly fucking roger and somehow managed to always be pleasant in conversation. Very charming and so fucking nice that I could have brought him home to my parents without being gay and my parent's not even noticing him being a dude so they wouldn't resent me for "coming out of the closet"...
He asked if I could take a small car ride with him out of town. I had nothing to do so I just said "Why the fuck not? I don't have any other place to be!" This was very late at night and we drove to some remote place I had never been to and didn't even know existed until just then.
He offers some junkies that are waiting for us to enter the car, it being freezing outside, it being like -30°C outside. They handed him a small package of something and he handed them some cash. They counted the cash and left. We stopped a few times in the side of the road after that on our way back to the city, the first time him revealing what it was he was actually buying from those junkies.
He opened the box in front of me and pulled out something that looked like a patch or something, him saying that this was a 100µg Fentanyl patch which he then cut just a little piece from and vaped on aluminum foil, sitting there next to me in the car.
I had never seen anything like it, that it was possible to ingest some sort of bandaid in this manner. That there were Fentanyl patches going around my town and how absolutely SMASHED he got from inhaling some vapor from that aluminum foil.
I didn't think much of it and dropped him at home. A few days later he calls me and asks me to come to the head shop he owned back then and ran alongside his father, who really did all the work, this guy only spending the profits on, apparently, Fentanyl and Oxy and some shit like that. He said he was gonna show me something special.
I, again, was homeless, so I just thought to myself: "Where else would I go? At least there I have a roof over my head!" but decided to have one of my best friends back then with me as backup as I didn't know what I was about to walk into.
We arrive at his shop and, there being something about this guy, his personality being absolutely one of a kind, we talked and joked some, until he drags up a glass pipe and this package of 5x Fentanyl patches as well. He then gets his scissors and starts cutting these tiny ass pieces off one of the patches he had, puts it in the pipe along with some tobacco and takes a hit.
He then offered me and my friend some. Each of us just got in line thinking: "YOLO!!!" And each of us took some hits and I got to experience the single most absolutely gorgeously and best highs of my entire life! It felt amazing just getting a hit from a tiny bit of this patch. The piece he'd put into the pipe each time being so small that if you'd put it on the table, you'd never find it again!
But while I felt how amazingly good it felt to breathe this shit in, I also, at the same time, felt how absolutely amazingly dangerous this substance was and how if it wanted to, it could kill me before I passed the pipe back to him if he didn't dose it correctly! It was so dangerous that I wanted to swear to myself to never do it after that night in question, but it being so fucking good as well that I lost that thought before I realized what I was thinking and just took another fucking hit of this best fucking high I've ever felt in my mind, body, and soul!
While we're smoking this stuff, my friend had some pills he was constantly offering me. I was in the mindset of a 12-year-old trying Weed for the first time, I just wanted to get the fuck fucked out of my skull. Fuck it, I was homeless, he was giving us hits of one of the most expensive drugs around here, he at least never asked us for any money in return, so what did I have to lose?
We partied like there was no tomorrow. At one point him offering us Oxy80 and me purchasing one pill from him, him crushing it down after having removed the film that's always on these pills and me and my friend splitting it, one line each!
I didn't really feel that much from it, maybe a little heat sensation in my legs, but nothing more. Our new friend all of a sudden asking if we had any Speed on us, me remembering that I had like 10 grams stored somewhere in my car, so I went outside to get it. I got locked outside for a while but they figured it out in the end and let me in.
When I handed him the bag of Speed he reached into some sort of purse and next thing I know he's holding a syringe with a needle on the end and him filling us with some bullshit about him rarely ever shooting shit up, him just needing to get some Stimulants into his arm because he had smoked too much Fentanyl.
He starts IV'ing in front of us and can I say and that buddy of mine confirm that seeing it so fucking up close and personal was one of the most horrifying sights I had never thought I would be witnessing at any point in my life. This guy being then the only guy I knew who injected his drugs at some point.
After that, he's feeling all better and gets a message from a Weed dealer friend of his and because I'm so fucked out of my skull, I ask my friend if he can drive, him somehow being able to take the wheel no matter how fucking fucked the both of us are and him driving perfectly in that condition.
We arrive in another part of town at this apartment block which was like 5 or 6 stories tall and was I told it was a part of the University's dorms that people could rent out if they attended the school, even though the actual school was actually somewhere around 30 kilometers THAT way... I never fully understood if it was correct that it was some sort of dorm for the Uni. Because it'd be a very strange place for that dorm since there were literally 30 kilometers to the University which was exactly in the other side of town, we couldn't have been farther from it, actually!
We take the elevator to the top and my friend sneaks me one pill, me just not ever giving it a second thought, just swallowing it whole and moving on. We enter an apartment on the top floor where this insane noise was coming from which sounded like a VERY loud vacuum cleaner but turned out to be an Asic Bitcoin Miner they were mining Bitcoin on for some bizarre ass reason.
Upon entering the apartment two guys greet us. I didn't know either of them but after a short while realized that one of them was the guy that had been accused of sexually molesting a friend of mine in her sleep, her going to sleep with her pants on, her waking up next to him with her pants off. I didn't know the whole story but when I met her after that night I told her where he could be found so she could have her goons do some street justice on his face, repeatedly, for having tried to rape a dear friend of mine.
Anyway, my friend notices a big glass jar sitting on the dinner table filled to the brim with Weed and probably the biggest fucking bong I have ever seen with my own two eyes sitting on the floor next to it. My friend asks if he can take a hit from it with some of his own Weed and does he get the owner's permission to do so. He takes a hit and then tells me to take a hit. I never having taken a hit from a bong before just try my best and without even a second thought I exhale this HUGE cloud of smoke which, according to my friend, "was the largest bong hit he'd ever seen in his life!!!" him almost thirty, having smoked Weed since he was 12!
I instantly feel absolutely smashed. But I still felt as if it wasn't just the Weed causing it, that there was something more at play as I just all of a sudden feel exhausted. I find myself a sofa or a bed or something to sit on and lean my head against the wall.
All of a sudden I realize what those pills my friend was always handing me actually were. Of course, had he bought like 50 Diazepam/Valium tablets from one of our friend's mother who was sometimes dealing more than an actual pharmacy would do on a good day. I realize that we were taking Diazepam, which is a Benzo, maybe a soft Benzo but still a Benzo, while we were smoking Fentanyl and snorting Oxy80 and shit. Me knowing for a fact that mixing Opioids and Benzos almost always leading to an overdose and sometimes, more often than not at least, death!
I feel like I need to make my friend aware of this little fact but before I knew it, my eyes just seemed to slowly slide shut, without me having to even think about closing them.
What I see under my eyelids, which usually is just this black background with this orgy of millions and millions of different colors on it, is all of a sudden just completely different! I see nothing! Absolutely nothing! There was no color, there was no background, there was no anything under my eyelids! I felt as if I was just looking right into the Void! That place where there is nothing and if something happens to go there it becomes nothing as well!
Me feeling my breath always getting slower and shorter, a short while being from that moment to the moment I feel insanely dizzy from little to no oxygen entering my lungs at that moment. My breath being so short that I could have counted a 100 Mississippi's in between those few short breaths I knew I had left.
I start betting on when my last and absolutely final breath is gonna kiss me goodbye and I'm just gonna die from respiratory depression like I've read about would happen in exactly this situation. I was feeling a little cocky, like I was taunting what I knew what was about to happen, me of course in the mindset that if I'm gonna die right then and there, I'd do so with a smile on my face! Me, of course, being more terrified than I had ever been before in my entire life! Basically counting down to my last breath where I'd suffocate and die without anyone at the party noticing anything being wrong.
I then start to see this little white star in the middle of all that nothingness I was looking at under my eyelids, this tiny little star that I somehow felt I was supposed to move my mind closer to. As I start doing so, moving my mind closer and closer to the star, all of a sudden my entire mind goes blank! I'm thinking nothing! I'm feeling nothing! Hearing nothing and I can't feel the fact that I have skin around my bones. I'm completely Depersonalized as I have never experienced before, me being basically a blank slate for some very odd reason.
I then start seeing visions of moments I had in the past with my little brother, Elias, before he died on me and left me to fend for myself in this cruel and unjust world we live in. Some of the things I saw were moments we spent together, moments I always remembered about him and loved to death, but others were these strange moments where I wasn't there and the only person able to remember something like that only being Elias himself!
I'm always moving closer and closer to the star, until I realize it's not a star but a big while circle! Although I can't hear anything, I can feel my little brother, as if he's talking to me, about Rocket League or some music he was producing or something like that he always used to talk about, it all coming from that white circle which was getting larger and larger by the moment!
I then feel just this overwhelming feeling that I'm standing right next to Elias, that I can feel his presence and can almost touch him!
Then when the circle is about to become as big as it possibly can, I feel this insane heat all around me, like the most compassion I have ever felt in my life, like anyone has ever felt in anyone's life! And then it happens. Whatever was going on peaked and I feel every sense of my body and mind feeling as though I'm experiencing Elias with every last thread of my existence, me smelling that smell that was always of him, that smell I always connected in my mind to him and his room, that safe haven where I could check on him at any moment during the week and spew whatever nonsense I had to spew over him and he'd always meet me halfway with more understanding than I had ever gotten from anyone else in life!
Then there was the taste! I could taste, or it wasn't exactly that I could taste it, it was more an emotion that I could feel in my entire mouth and tongue. I don't know what it was or felt like exactly but there was something about it which lead me to believe that Elias was just around the corner. Me feeling as though I was holding him in my arms, him holding me back, me getting that hug I always wanted to plant on him, that hug I never had the courage to give him when he was alive and was finally getting right there in that moment!
As I said, every sense of my being was feeling his presence in some way! Some significant fucking way and was I lead to believe that the big white circle, which was so close to me I could almost smell it, had something to do with my sweet Elias and that he was probably inside that big fucking white circle. Him waiting eagerly to meet me again, me getting ready to kick the door that this circle actually was the fuck down because I was so fucking ready to see my best friend in the whole world again. Me just knowing that if I tore the door down, we'd meet again and spend the rest of time together, in each other's loving embrace!
I know what I'm supposed to do! I'm supposed to enter this big ass white circle! And at the exact moment I had, I get pulled the fuck back by some unknown force. I try entering again but the same thing just happens. I get pulled the fuck back! So for the third time, I try and I put everything I have left into it! It resulting in me getting pulled so far back from the circle that it started looking like this white little star again in no time!
All of a sudden I stop feeling all those ridiculously strong emotions and sensations, I re-enter reality once more and there it the moment I was betting on before! I just know by how my lungs felt like they had been in a huge vehicular crash that this is the last one! This breath that's coming up is the last fucking breath I'm ever going to breathe! I just know it in every fiber of my being!
I'm starting to like the feeling that this is it. That I'm about to leave and never come back! That once and for all, this was how I was gonna die and even though for having tried to off myself a million times in the past, it never appearing to work properly, but it working now and I was finally gonna get a break from all the suffering which is almost the only emotion I have ever felt in my life and was gonna get to see some peace!
When something hits me like I'm getting a hit from defibrillators, all of a sudden I just get this intense shock all over my body and feel my body in its entirety jump from that bed or sofa I was sitting on, my eyes finally opening up, me having to open them myself, even though that was the hardest fucking thing I have ever had to do in my entire life, it felt as if there were billions of tons of lead sitting on my eyelids, me barely being able to lift them just enough to see what's going on right in front of me.
I just know and feel that I'm standing in my own two feet and am I able to walk out of the apartment, out to the open stairwell where the elevator was located and as I open the door outside I just feel the freezing cold air filling my lungs, both my insanely short breath becoming longer and stronger, along with my heartbeat beating over those two beats per minute I had felt it was doing earlier.
For some reason, almost exactly as I feel like I can finally take a deep and good breath again, that I'm not suffocating from the inside, the party is over and do my friend and that Fentanyl guy walk outside and meet me, me having been feeling like I was about to die just moments prior, walking into the elevator and then into my car.
The Fentanyl guy asked if he could drive, I was still recovering from the fact that I was just about a nanosecond from dying inside some guy's home I had never met before, so I tried to utter something that he took as a yes and as I layed in the back seat on the way to his headshop again, him driving like he was absolutely retarded, him never having taken any sort of driver's test, me terrified the whole time in the back that I was gonna maybe experience something like I just did again but after a car crash, it being a miracle that there were no cops around because they would have seen by how the car was driven that either he had never driven a car before, someone was drugged out of hist fucking skull under the wheel, or both, which was exactly the case!
We get to the headshop and I just pass out on the couch, waking up an hour later with his dad standing over me holding a piece of aluminum foil which had obviously been used as something to vape Fentanyl from and asked me like I just fucked his wife: "WERE YOU GUYS SMOKING FENTANYL IN HERE ALL NIGHT????"
Me just trying to say something, trying as hard as I could, in the end just walking out of the shop, realizing that my phone was dead and I didn't have my charger while my car wasn't anywhere to be seen on the parking lot.
I was fucked! I had nothing to do, nowhere to go and my apartment had just been stolen! Everything after I almost died from an overdose the night before. I couldn't believe how much of a shit I would have become and promised myself never to reach such a low fucking place, while I cried and bought a new charger at the mobile phone store that was next door to the headshop....
So yeah! That's the story I wanted to tell you! What do you think? Me reaching a new low point in my life, me never having gone so low before and never having gone so low after this happened, thank fucking god!!!
To me, all I experienced about my sweet brother Elias, all the emotions, the sensations, the feelings, everything, was my mind realizing that I was about to die and in order to make sure that I didn't suffer as much as I could have, it administered something like a pretty fucking strong DMT trip or something like that to soften the impact that dying would have been!
This being very similar to every single story I have ever heard about people who have either died or escaped death by the skin on their ass. It almost being exactly like some stories, life flashing before you, you seeing some loved one's, feeling intense and otherworldly emotions and feeling you didn't think anyone was capable of feeling. Even the "tunnel of light" some people talk about was there in the form of my white circle!
I gather that I was about to die, was gonna die, had basically written in hell's guestbook already, but something, probably just my body not accepting this death I was about to experience, it making a break for it in the end, which was what saved me!
Even though I sometimes hate my body and even recently got diagnosed with type 2 diabetes, I must admit that you, body, you're all right!
I want this tale to serve as a cautionary tale to anyone and everyone who has thought about mixing Benzos and Opioids! Along with being just me telling anyone and everyone who cares to hear it to stay the fuck away from fucking Fentanyl!
Don't do it! I beg you! Don't even think about touching the Fent! Please! Do it for me!
I hereby wish you all a happy Friday as writing this whole thing took me like two and a half hours or so, it having been Thursday when I started!
Peace and love to you and everyone you care about and love!
Sincerely yours, Russel Dunbar!
submitted by RusselDunbar to Stims [link] [comments]

Which are your top 5 coins out of the top100? An analysis.

I am putting together my investment portfolio for 2018 and made a complete summary of the current Top 100. Interestingly, I noticed that all coins can be categorized into 12 markets. Which markets do you think will play the biggest role in the coming year?
Here is a complete overview of all coins in an excel sheet including name, a full description, market, TPS, risk profile, time since launch (negative numbers mean that they are launching that many months in the future) and market cap. You can also sort by all of these fields of course. Coins written in bold are the strongest contenders within their market either due to having the best technology or having a small market cap and still excellent technology and potential. https://docs.google.com/spreadsheets/d/1s8PHcNvvjuy848q18py_CGcu8elRGQAUIf86EYh4QZo/edit#gid=0
The 12 markets are
  1. Currency 13 coins
  2. Platform 25 coins
  3. Ecosystem 9 coins
  4. Privacy 9 coins
  5. Currency Exchange Tool 8 coins
  6. Gaming & Gambling 4 coins
  7. Misc 15 coins
  8. Social Network 4 coins
  9. Fee Token 3 coins
  10. Decentralized Data Storage 4 coins
  11. Cloud Computing 2 coins
  12. Stable Coin 3 coins
Before we look at the individual markets, we need to take a look of the overall market and its biggest issue, scalability, first:
Cryptocurrencies aim to be a decentralized currency that can be used worldwide. Their goal is to replace dollar, Euro, Yen, all FIAT currencies globally. The coin that will achieve that will be worth several trillion dollars.
Bitcoin can only process 7 transactions per second (TPS) currently. In order to replace all FIAT, it would need to perform at least at VISA levels, which usually processes around 3,000 TPS, up to 25,000 TPS during peak times and a maximum of 64,000 TPS. That means that this cryptocurrency would need to be able to perform at least several thousand TPS. However, a ground breaking technology should not look at current technology to set a goal for its use, i.e. estimating the number of emails sent in 1990 based on the number of faxes sent wasn’t a good estimate.
For that reason, 10,000 TPS is the absolute baseline for a cryptocurrency that wants to replace FIAT. This brings me to IOTA, which wants to connect all 80 billion IoT devices that are expected to exist by 2025, which constantly communicate with each other, possibly creating 80 billion or more transactions per second. This is the benchmark that cryptocurrencies should be aiming for. Currently, 8 billion devices are connected to the Internet.
With its Lightning network recently launched, Bitcoin is realistically looking at 50,000 possible TPS soon. Other notable cryptocurrencies besides IOTA and Bitcoin are Nano with 7,000 TPS already tested, Dash with several billion TPS possible with Masternodes, Neo, LISK and RHOC with 100,000 TPS by 2020, Ripple with 50,000 TPS, Ethereum with 10,000 TPS with Sharding.
However, it needs to be said that scalability usually goes at the cost of decentralization and security. So, it needs to be seen, which of these technologies can prove themselves decentralized while maintaining high TPS.
Without further ado, here are the coins of the first market. Each market is sorted by market cap.

Market 1 - Currency:

  1. Bitcoin: 1st generation blockchain with currently bad scalability, though the implementation of the Lightning Network looks promising and could alleviate most scalability and high energy use concerns.
  2. Ripple: Centralized currency that might become very successful due to tight involvement with banks and cross-border payments for financial institutions; banks and companies like Western Union and Moneygram (who they are currently working with) as customers customers. However, it seems they are aiming for more decentralization now.https://ripple.com/dev-blog/decentralization-strategy-update/. Has high TPS due to Proof of Correctness algorithm.
  3. Bitcoin Cash: Bitcoin fork with the difference of having an 8 times bigger block size, making it 8 times more scalable than Bitcoin currently. Further block size increases are planned. Only significant difference is bigger block size while big blocks lead to further problems that don't seem to do well beyond a few thousand TPS. Opponents to a block size argue that increasing the block size limit is unimaginative, offers only temporary relief, and damages decentralization by increasing costs of participation. In order to preserve decentralization, system requirements to participate should be kept low. To understand this, consider an extreme example: very big blocks (1GB+) would require data center level resources to validate the blockchain. This would preclude all but the wealthiest individuals from participating.Community seems more open than Bitcoin's though.
  4. Litecoin : Little brother of Bitcoin. Bitcoin fork with different mining algorithm but not much else.Copies everything that Bitcoin does pretty much. Lack of real innovation.
  5. Dash: Dash (Digital Cash) is a fork of Bitcoin and focuses on user ease. It has very fast transactions within seconds, low fees and uses Proof of Service from Masternodes for consensus. They are currently building a system called Evolution which will allow users to send money using usernames and merchants will find it easy to integrate Dash using the API. You could say Dash is trying to be a PayPal of cryptocurrencies. Currently, cryptocurrencies must choose between decentralization, speed, scalability and can pick only 2. With Masternodes, Dash picked speed and scalability at some cost of decentralization, since with Masternodes the voting power is shifted towards Masternodes, which are run by Dash users who own the most Dash.
  6. IOTA: 3rd generation blockchain called Tangle, which has a high scalability, no fees and instant transactions. IOTA aims to be the connective layer between all 80 billion IOT devices that are expected to be connected to the Internet in 2025, possibly creating 80 billion transactions per second or 800 billion TPS, who knows. However, it needs to be seen if the Tangle can keep up with this scalability and iron out its security issues that have not yet been completely resolved.
  7. Nano: 3rd generation blockchain called Block Lattice with high scalability, no fees and instant transactions. Unlike IOTA, Nano only wants to be a payment processor and nothing else, for now at least. With Nano, every user has their own blockchain and has to perform a small amount of computing for each transaction, which makes Nano perform at 300 TPS with no problems and 7,000 TPS have also been tested successfully. Very promising 3rd gen technology and strong focus on only being the fastest currency without trying to be everything.
  8. Decred: As mining operations have grown, Bitcoin’s decision-making process has become more centralized, with the largest mining companies holding large amounts of power over the Bitcoin improvement process. Decred focuses heavily on decentralization with their PoW Pos hybrid governance system to become what Bitcoin was set out to be. They will soon implement the Lightning Network to scale up. While there do not seem to be more differences to Bitcoin besides the novel hybrid consensus algorithm, which Ethereum, Aeternity and Bitcoin Atom are also implementing, the welcoming and positive Decred community and professoinal team add another level of potential to the coin.
  9. Bitcoin Atom: Atomic Swaps and hybrid consenus. This looks like the only Bitcoin clone that actually is looking to innovate next to Bitcoin Cash.
  10. Dogecoin: Litecoin fork, fantastic community, though lagging behind a bit in technology.
  11. Bitcoin Gold: A bit better security than bitcoin through ASIC resistant algorithm, but that's it. Not that interesting.
  12. Digibyte: Digibyte's PoS blockchain is spread over a 100,000+ servers, phones, computers, and nodes across the globe, aiming for the ultimate level of decentralization. DigiByte’s adoption over the past four years has been slow. The DigiByte website offers a lot of great marketing copy and buzzwords. However, there’s not much technical information about what they have planned for the future. You could say Digibyte is like Bitcoin, but with shorter blocktimes and a multi-algorithm. However, that's not really a difference big enough to truly set themselves apart from Bitcoin, since these technologies could be implemented by any blockchain without much difficulty. Their decentralization is probably their strongest asset, however, this also change quickly if the currency takes off and big miners decide to go into Digibyte.
  13. Bitcoin Diamond Asic resistant Bitcoin and Copycat

Market 2 - Platform

Most of the cryptos here have smart contracts and allow dapps (Decentralized apps) to be build on their platform and to use their token as an exchange of value between dapp services.
  1. Ethereum: 2nd generation blockchain that allows the use of smart contracts. Bad scalability currently, though this concern could be alleviated by the soon to be implemented Lightning Network aka the Raiden Network, Plasma and its Sharding concept.
  2. EOS: Promising technology that wants to be able do everything, from smart contracts like Ethereum, scalability similar to Nano with 1000 tx/second + near instant transactions and zero fees, to also wanting to be a platform for dapps. However, EOS doesn't have a product yet and everything is just promises still. There are lots of red flags, e.g. having dumped $500 million Ether over the last 2 months and possibly bought back EOS to increase the size of their ICO, which has been going on for over a year and has raised several billion dollars. All in all, their market cap is way too high for that and not even having a product. However, Mainnet release is in 1 month, which could change everything.
  3. Cardano: Similar to Ethereum/EOS, however, only promises made with no delivery yet, highly overrated right now. Interesting concept though. Market cap way too high for not even having a product. Somewhat promising technology.
  4. VeChain: Singapore-based project that’s building a business enterprise platform and inventory tracking system. Examples are verifying genuine luxury goods and food supply chains. Has one of the strongest communities in the crypto world. Most hyped token of all, with merit though.
  5. Neo: Neo is a platform, similar to Eth, but more extensive, allowing dapps and smart contracts, but with a different smart contract gas system, consensus mechanism (PoS vs. dBfT), governance model, fixed vs unfixed supply, expensive contracts vs nearly free contracts, different ideologies for real world adoption. There are currently only 9 nodes, each of which are being run by a company/entity hand selected by the NEO council (most of which are located in china) and are under contract. This means that although the locations of the nodes may differ, ultimately the neo council can bring them down due to their legal contracts. In fact this has been done in the past when the neo council was moving 50 million neo that had been locked up. Also dbft (or neo's implmentation of it) has failed underload causing network outages during major icos. The first step in decentralization is that the NEO Counsel will select trusted nodes (Universities, business partners, etc.) and slowly become less centralized that way. The final step in decentralization will be allowing NEO holders to vote for new nodes, similar to a DPoS system (ARK/EOS/LISK). NEO has a regulation/government friendly ideology. Finally they are trying to work undewith the Chinese government in regards to regulations. If for some reason they wanted it shut down, they could just shut it down.
  6. Stellar:PoS system, similar goals as Ripple, but more of a platform than only a currency. 80% of Stellar are owned by Stellar.org still, making the currency centralized.
  7. Ethereum classic: Original Ethereum that decided not to fork after a hack. The Ethereum that we know is its fork. Uninteresing, because it has a lot of less resources than Ethereum now and a lot less community support.
  8. Ziliqa: Zilliqa is building a new way of sharding. 2400 tpx already tested, 10,000 tps soon possible by being linearly scalable with the number of nodes. That means, the more nodes, the faster the network gets. They are looking at implementing privacy as well.
  9. QTUM: Enables Smart contracts on the Bitcoin blockchain. Useful.
  10. Icon: Korean ethereum. Decentralized application platform that's building communities in partnership with banks, insurance providers, hospitals, and universities. Focused on ID verification and payments.
  11. LISK: Lisk's difference to other BaaS is that side chains are independent to the main chain and have to have their own nodes. Similar to neo whole allows dapps to deploy their blockchain to. Like most cryptocurrencies, Lisk is currently somewhat centralized with a small group of members owning more than 50% of the delegated positions. Lisk plans to change the consensus algorithm for that reason in the near future.
  12. Rchain: Similar to Ethereum with smart contract, though much more scalable at an expected 40,000 TPS and possible 100,000 TPS. Not launched yet. No product launched yet, though promising technology. Not overvalued, probably at the right price right now.
  13. ARDR: Similar to Lisk. Ardor is a public blockchain platform that will allow people to utilize the blockchain technology of Nxt through the use of child chains. A child chain, which is a ‘light’ blockchain that can be customized to a certain extent, is designed to allow easy self-deploy for your own blockchain. Nxt claims that users will "not need to worry" about security, as that part is now handled by the main chain (Ardor). This is the chief innovation of Ardor. Ardor was evolved from NXT by the same company. NEM started as a NXT clone.
  14. Ontology: Similar to Neo. Interesting coin
  15. Bytom: Bytom is an interactive protocol of multiple byte assets. Heterogeneous byte-assets (indigenous digital currency, digital assets) that operate in different forms on the Bytom Blockchain and atomic assets (warrants, securities, dividends, bonds, intelligence information, forecasting information and other information that exist in the physical world) can be registered, exchanged, gambled and engaged in other more complicated and contract-based interoperations via Bytom.
  16. Nxt: Similar to Lisk
  17. Aeternity: We’ve seen recently, that it’s difficult to scale the execution of smart contracts on the blockchain. Crypto Kitties is a great example. Something as simple as creating and trading unique assets on Ethereum bogged the network down when transaction volume soared. Ethereum and Zilliqa address this problem with Sharding. Aeternity focuses on increasing the scalability of smart contracts and dapps by moving smart contracts off-chain. Instead of running on the blockchain, smart contracts on Aeternity run in private state channels between the parties involved in the contracts. State channels are lines of communication between parties in a smart contract. They don’t touch the blockchain unless they need to for adjudication or transfer of value. Because they’re off-chain, state channel contracts can operate much more efficiently. An important aspect of smart contract and dapp development is access to outside data sources. This could mean checking the weather in London, score of a football game, or price of gold. Oracles provide access to data hosted outside the blockchain. In many blockchain projects, oracles represent a security risk and potential point of failure, since they tend to be singular, centralized data streams. Aeternity proposes decentralizing oracles with their oracle machine. Doing so would make outside data immutable and unchangeable once it reaches Aeternity’s blockchain. Aeternity’s network runs on on a hybrid of proof of work and proof of stake. Founded by a long-time crypto-enthusiast and early colleague of Vitalik Buterin, Yanislav Malahov. Promising concept though not product yet
  18. Stratis: Different to LISK, Stratis will allow businesses and organizations to create their own blockchain according to their own needs, but secured on the parent Stratis chain. Stratis’s simple interface will allow organizations to quickly and easily deploy and/or test blockchain functionality of the Ethereum, BitShares, BitCoin, Lisk and Stratis environements.
  19. Status: Status provides access to all of Ethereum’s decentralized applications (dapps) through an app on your smartphone. It opens the door to mass adoption of Ethereum dapps by targeting the fastest growing computer segment in the world – smartphone users.
  20. Ark: Fork of Lisk that focuses on a smaller feature set. Ark wallets can only vote for one delegate at a time which forces delegates to compete against each other and makes cartel formations incredibly hard, if not impossible.
  21. Neblio: Similar to Neo, but at a 30x smaller market cap.
  22. NEM: Is similar to Neo. However, it has no marketing team, very high market cap for little clarilty what they do.
  23. Bancor: Bancor is a Decentralized Liquidity Network that allows you to hold any Ethereum token and convert it to any other token in the network, with no counter party, at an automatically calculated price, using a simple web wallet.
  24. Dragonchain: The Purpose of DragonChain is to help companies quickly and easily incorporate blockchain into their business applications. Many companies might be interested in making this transition because of the benefits associated with serving clients over a blockchain – increased efficiency and security for transactions, a reduction of costs from eliminating potential fraud and scams, etc.
  25. Skycoin: Transactions with zero fees that take apparently two seconds, unlimited transaction rate, no need for miners and block rewards, low power usage, all of the usual cryptocurrency technical vulnerabilities fixed, a consensus mechanism superior to anything that exists, resistant to all conceivable threats (government censorship, community infighting, cybenucleaconventional warfare, etc). Skycoin has their own consensus algorithm known as Obelisk written and published academically by an early developer of Ethereum. Obelisk is a non-energy intensive consensus algorithm based on a concept called ‘web of trust dynamics’ which is completely different to PoW, PoS, and their derivatives. Skywire, the flagship application of Skycoin, has the ambitious goal of decentralizing the internet at the hardware level and is about to begin the testnet in April. However, this is just one of the many facets of the Skycoin ecosystem. Skywire will not only provide decentralized bandwidth but also storage and computation, completing the holy trinity of commodities essential for the new internet. Skycion a smear campaign launched against it, though they seem legit and reliable. Thus, they are probably undervalued.

Market 3 - Ecosystem

The 3rd market with 11 coins is comprised of ecosystem coins, which aim to strengthen the ease of use within the crypto space through decentralized exchanges, open standards for apps and more
  1. Nebulas: Similar to how Google indexes webpages Nebulas will index blockchain projects, smart contracts & data using the Nebulas rank algorithm that sifts & sorts the data. Developers rewarded NAS to develop & deploy on NAS chain. Nebulas calls this developer incentive protocol – basically rewards are issued based on how often dapp/contract etc. is used, the more the better the rewards and Proof of devotion. Works like DPoS except the best, most economically incentivised developers (Bookkeeppers) get the forging spots. Ensuring brains stay with the project (Cross between PoI & PoS). 2,400 TPS+, DAG used to solve the inter-transaction dependencies in the PEE (Parallel Execution Environment) feature, first crypto Wallet that supports the Lightening Network.
  2. Waves: Decentralized exchange and crowdfunding platform. Let’s companies and projects to issue and manage their own digital coin tokens to raise money.
  3. Salt: Leveraging blockchain assets to secure cash loands. Plans to offer cash loans in traditional currencies, backed by your cryptocurrency assets. Allows lenders worldwide to skip credit checks for easier access to affordable loans.
  4. CHAINLINK: ChainLink is a decentralized oracle service, the first of its kind. Oracles are defined as an ‘agent’ that finds and verifies real-world occurrences and submits this information to a blockchain to be used in smart contracts.With ChainLink, smart contract users can use the network’s oracles to retrieve data from off-chain application program interfaces (APIs), data pools, and other resources and integrate them into the blockchain and smart contracts. Basically, ChainLink takes information that is external to blockchain applications and puts it on-chain. The difference to Aeternity is that Chainlink deploys the smart contracts on the Ethereum blockchain while Aeternity has its own chain.
  5. WTC: Combines blockchain with IoT to create a management system for supply chains Interesting
  6. Ethos unifyies all cryptos. Ethos is building a multi-cryptocurrency phone wallet. The team is also building an investment diversification tool and a social network
  7. Komodo: The Komodo blockchain platform uses Komodo’s open-source cryptocurrency for doing transparent, anonymous, private, and fungible transactions. They are then made ultra-secure using Bitcoin’s blockchain via a Delayed Proof of Work (dPoW) protocol and decentralized crowdfunding (ICO) platform to remove middlemen from project funding. Offers services for startups to create and manage their own Blockchains.
  8. Aion: Today, there are hundreds of blockchains. In the coming years, with widespread adoption by mainstream business and government, these will be thousands or millions. Blockchains don’t talk to each other at all right now, they are like the PCs of the 1980s. The Aion network is able to support custom blockchain architectures while still allowing for cross-chain interoperability by enabling users to exchange data between any Aion-compliant blockchains by making use of an interchain framework that allows for messages to be relayed between blockchains in a completely trust-free manner.
  9. Tenx: Raised 80 million, offers cryptocurrency-linked credit cards that let you spend virtual money in real life. Developing a series of payment platforms to make spending cryptocurrency easier.

Market 4 - Privacy

The 4th market are privacy coins. As you might know, Bitcoin is not anonymous. If the IRS or any other party asks an exchange who is the identity behind a specific Bitcoin address, they know who you are and can track back almost all of the Bitcoin transactions you have ever made and all your account balances. Privacy coins aim to prevent exactly that through address fungability, which changes addresses constantly, IP obfuscation and more. There are 2 types of privacy coins, one with completely privacy and one with optional privacy. Optional Privacy coins like Dash and Nav have the advantage of more user friendliness over completely privacy coins such as Monero and Enigma.
  1. Monero: Currently most popular privacy coin, though with a very high market cap. Since their privacy is all on chain, all prior transactions would be deanonymized if their protocol is ever cracked. This requires a quantum computing attack though. PIVX is better in that regard.
  2. Zcash: A decentralized and open-source cryptocurrency that hide the sender, recipient, and value of transactions. Offers users the option to make transactions public later for auditing. Decent privacy coin, though no default privacy
  3. Verge: Calls itself privacy coin without providing private transactions, multiple problems over the last weeks has a toxic community, and way too much hype for what they have.
  4. Bytecoin: First privacy-focused cryptocurrency with anonymous transactions. Bytecoin’s code was later adapted to create Monero, the more well-known anonymous cryptocurrency. Has several scam accusations, 80% pre-mine, bad devs, bad tech
  5. Bitcoin Private: A merge fork of Bitcoin and Zclassic with Zclassic being a fork of Zcash with the difference of a lack of a founders fee required to mine a valid block. This promotes a fair distribution, preventing centralized coin ownership and control. Bitcoin private offers the optional ability to keep the sender, receiver, and amount private in a given transaction. However, this is already offered by several good privacy coins (Monero, PIVX) and Bitcoin private doesn't offer much more beyond this.
  6. PIVX: As a fork of Dash, PIVX uses an advanced implementation of the Zerocoin protocol to provide it’s privacy. This is a form of zeroknowledge proofs, which allow users to spend ‘Zerocoins’ that have no link back to them. Unlike Zcash u have denominations in PIVX, so they can’t track users by their payment amount being equal to the amount of ‘minted’ coins, because everyone uses the same denominations. PIVX is also implementing Bulletproofs, just like Monero, and this will take care of arguably the biggest weakness of zeroknowledge protocols: the trusted setup.
  7. Zcoin: PoW cryptocurrency. Private financial transactions, enabled by the Zerocoin Protocol. Zcoin is the first full implementation of the Zerocoin Protocol, which allows users to have complete privacy via Zero-Knowledge cryptographic proofs.
  8. Enigma: Monero is to Bitcoin what enigma is to Ethereum. Enigma is for making the data used in smart contracts private. More of a platform for dapps than a currency like Monero. Very promising.
  9. Navcoin: Like bitcoin but with added privacy and pos and 1,170 tps, but only because of very short 30 second block times. Though, privacy is optional, but aims to be more user friendly than Monero. However, doesn't really decide if it wants to be a privacy coin or not. Same as Zcash.Strong technology, non-shady team.

Market 5 - Currency Exchange Tool

Due to the sheer number of different cryptocurrencies, exchanging one currency for the other it still cumbersome. Further, merchants don’t want to deal with overcluttered options of accepting cryptocurrencies. This is where exchange tool like Req come in, which allow easy and simple exchange of currencies.
  1. Cryptonex: Fiat and currency exchange between various blockchain services, similar to REQ.
  2. QASH: Qash is used to fuel its liquid platform which will be an exchange that will distribute their liquidity pool. Its product, the Worldbook is a multi-exchange order book that matches crypto to crypto, and crypto to fiat and the reverse across all currencies. E.g., someone is selling Bitcoin is USD on exchange1 not owned by Quoine and someone is buying Bitcoin in EURO on exchange 2 not owned by Quoine. They turned it on to test it a few months ago for an hour or so and their exchange was the top exchange in the world by 4x volume for the day because all Worldbook trades ran through it. Binance wants BNB to be used on their one exchange. Qash wants their QASH token embedded in all of their partners.
  3. Kyber: network Exchange between cryptocurrencies, similar to REQ. Features automatic coin conversions for payments. Also offers payment tools for developers and a cryptocurrency wallet.
  4. Achain: Building a boundless blockchain world like Req .
  5. Centrality: Centrality is a decentralized market place for dapps that are all connected together on a blockchain-powered system. Centrality aims to allow businesses to work together using blockchain technology. With Centrality, startups can collaborate through shared acquisition of customers, data, merchants, and content. That shared acquisition occurs across the Centrality blockchain, which hosts a number of decentralized apps called Scenes. Companies can use CENTRA tokens to purchase Scenes for their app, then leverage the power of the Centrality ecosystem to quickly scale. Some of Centrality's top dapps are, Skoot, a travel experience marketplace that consists of a virtual companion designed for free independent travelers and inbound visitors, Belong, a marketplace and an employee engagement platform that seems at helping business provide rewards for employees, Merge, a smart travel app that acts as a time management system, Ushare, a transports application that works across rental cars, public transport, taxi services, electric bikes and more. All of these dapps are able to communicate with each other and exchange data through Centrality.
  6. Bitshares: Exchange between cryptocurrencies. Noteworthy are the 1.5 second average block times and throughput potential of 100,000 transactions per second with currently 2,400 TPS having been proven. However, Bitshares had several Scam accusations in the past.
  7. Loopring: A protocol that will enable higher liquidity between exchanges and personal wallets by pooling all orders sent to its network and fill these orders through the order books of multiple exchanges. When using Loopring, traders never have to deposit funds into an exchange to begin trading. Even with decentralized exchanges like Ether Delta, IDex, or Bitshares, you’d have to deposit your funds onto the platform, usually via an Ethereum smart contract. But with Loopring, funds always remain in user wallets and are never locked by orders. This gives you complete autonomy over your funds while trading, allowing you to cancel, trim, or increase an order before it is executed.
  8. ZRX: Open standard for dapps. Open, permissionless protocol allowing for ERC20 tokens to be traded on the Ethereum blockchain. In 0x protocol, orders are transported off-chain, massively reducing gas costs and eliminating blockchain bloat. Relayers help broadcast orders and collect a fee each time they facilitate a trade. Anyone can build a relayer.

Market 6 - Gaming

With an industry size of $108B worldwide, Gaming is one of the largest markets in the world. For sure, cryptocurrencies will want to have a share of that pie.
  1. Storm: Mobile game currency on a platform with 9 million players.
  2. Fun: A platform for casino operators to host trustless, provably-fair gambling through the use of smart contracts, as well as creating their own implementation of state channels for scalability.
  3. Electroneum: Mobile game currency They have lots of technical problems, such as several 51% attacks
  4. Wax: Marketplace to trade in-game items

Market 7 - Misc

There are various markets being tapped right now. They are all summed up under misc.
  1. OMG: Omise is designed to enable financial services for people without bank accounts. It works worldwide and with both traditional money and cryptocurrencies.
  2. Power ledger: Australian blockchain-based cryptocurrency and energy trading platform that allows for decentralized selling and buying of renewable energy. Unique market and rather untapped market in the crypto space.
  3. Populous: Populous is a platform that connects business owners and invoice buyers without middlemen. Furthermore, it is a peer-to-peer (P2P) platform that uses blockchain to provide small and medium-sized enterprises (SMEs) a more efficient way to participate in invoice financing. Businesses can sell their outstanding invoices at a discount to quickly free up some cash. Invoice sellers get cash flow to fund their business and invoice buyers earn interest.
  4. Monacoin: The first Japanese cryptocurrency. Focused on micro-transactions and based on a popular internet meme of a type-written cat. This makes it similar to Dogecoin. Very niche, tiny market.
  5. Revain: Legitimizing reviews via the blockchain. Interesting concept, though market not as big.
  6. Augur: Platform to forecast and make wagers on the outcome of real-world events (AKA decentralized predictions). Uses predictions for a “wisdom of the crowd” search engine. Not launched yet.
  7. Substratum: Revolutionzing hosting industry via per request billing as a decentralized internet hosting system. Uses a global network of private computers to create the free and open internet of the future. Participants earn cryptocurrency. Interesting concept.
  8. Veritaseum: Is supposed to be a peer to peer gateway, though it looks like very much like a scam.
  9. TRON: Tronix is looking to capitalize on ownership of internet data to content creators. However, they plagiarized their white paper, which is a no go. They apologized, so it needs to be seen how they will conduct themselves in the future. Extremely high market cap for not having a product, nor proof of concept.
  10. Syscoin: A cryptocurrency with a decentralized marketplace that lets people buy and sell products directly without third parties. Trying to remove middlemen like eBay and Amazon.
  11. Hshare: Most likely scam because of no code changes, most likely pump and dump scheme, dead community.
  12. BAT: An Ethereum-based token that can be exchanged between content creators, users, and advertisers. Decentralized ad-network that pays based on engagement and attention.
  13. Dent: Decentralizeed exchange of mobile data, enabling mobile data to be marketed, purchased or distributed, so that users can quickly buy or sell data from any user to another one.
  14. Ncash: End to end encrypted Identification system for retailers to better serve their customers .
  15. Factom Secure record-keeping system that allows companies to store their data directly on the Blockchain. The goal is to make records more transparent and trustworthy .

Market 8 - Social network

Web 2.0 is still going strong and Web 3.0 is not going to ignore it. There are several gaming tokens already out there and a few with decent traction already, such as Steem, which is Reddit with voting through money is a very interesting one.
  1. Mithril: As users create content via social media, they will be rewarded for their contribution, the better the contribution, the more they will earn
  2. Steem: Like Reddit, but voting with money. Already launched product and Alexa rank 1,000 Thumbs up.
  3. Rdd: Reddcoin makes the process of sending and receiving money fun and rewarding for everyone. Reddcoin is dedicated to one thing – tipping on social networks as a way to bring cryptocurrency awareness and experience to the general public.
  4. Kin: Token for the platform Kik. Kik has a massive user base of 400 million people. Replacing paying with FIAT with paying with KIN might get this token to mass adoption very quickly.

Market 9 - Fee token

Popular exchanges realized that they can make a few billion dollars more by launching their own token. Owning these tokens gives you a reduction of trading fees. Very handy and BNB (Binance Coin) has been one of the most resilient tokens, which have withstood most market drops over the last weeks and was among the very few coins that could show growth.
  1. BNB: Fee token for Binance
  2. Gas: Not a Fee token for an exchange, but it is a dividend paid out on Neo and a currency that can be used to purchase services for dapps.
  3. Kucoin: Fee token for Kucoin

Market 10 - Decentralized Data Storage

Currently, data storage happens with large companies or data centers that are prone to failure or losing data. Decentralized data storage makes loss of data almost impossible by distributing your files to numerous clients that hold tiny pieces of your data. Remember Torrents? Torrents use a peer-to-peer network. It is similar to that. Many users maintain copies of the same file, when someone wants a copy of that file, they send a request to the peer-to-peer network., users who have the file, known as seeds, send fragments of the file to the requester. The requester receives many fragments from many different seeds, and the torrent software recompiles these fragments to form the original file.
  1. Gbyte: Byteball data is stored and ordered using directed acyclic graph (DAG) rather than blockchain. This allows all users to secure each other's data by referencing earlier data units created by other users, and also removes scalability limits common for blockchains, such as blocksize issue.
  2. Siacoin: Siacoin is decentralized storage platform. Distributes encrypted files to thousands of private users who get paid for renting out their disk space. Anybody with siacoins can rent storage from hosts on Sia. This is accomplish via "smart" storage contracts stored on the Sia blockchain. The smart contract provides a payment to the host only after the host has kept the file for a given amount of time. If the host loses the file, the host does not get paid.
  3. Maidsafecoin: MaidSafe stands for Massive Array of Internet Disks, Secure Access for Everyone.Instead of working with data centers and servers that are common today and are vulnerable to data theft and monitoring, You can think of SAFE as a crowd-sourced internet. It’s an autonomous network that automatically sets prices and distributes data and rents out hard drive disk space with a Blockchain-based storage solutions.When you upload a file to the network, such as a photo, it will be broken into pieces, hashed, and encrypted. Then, redundant copies of the data are created as well so that if someone storing your file turns off their computer, you will still have access to your data. And don’t worry, even with pieces of your data on other people’s computers, they won’t be able to read them. You can earn MadeSafeCoins by participating in storing data pieces from the network on your computer and thus earning a Proof of Resource.
  4. Storj: Storj aims to become a cloud storage platform that can’t be censored or monitored, or have downtime. Your files are encrypted, shredded into little pieces called 'shards', and stored in a decentralized network of computers around the globe. No one but you has a complete copy of your file, not even in an encrypted form.

Market 11 - Cloud computing

Obviously, renting computing power, one of the biggest emerging markets as of recent years, e.g. AWS and Digital Ocean, is also a service, which can be bought and managed via the blockchain.
  1. Golem: Allows easy use of Supercomputer in exchange for tokens. People worldwide can rent out their computers to the network and get paid for that service with Golem tokens.
  2. Elf: Allows easy use of Cloud computing in exchange for tokens.

Market 12 - Stablecoin

Last but not least, there are 2 stablecoins that have established themselves within the market. A stable coin is a coin that wants to be independent of the volatility of the crypto markets. This has worked out pretty well for Maker and DGD, accomplished through a carefully diversified currency fund and backing each token by 1g or real gold respectively. DO NOT CONFUSE DGD AND MAKER with their STABLE COINS DGX and DAI. DGD and MAKER are volatile, because they are the companies of DGX and DAI. DGX and DAI are the stable coins.
  1. DGD: Platform of the Stablecoin DGX. Every DGX coin is backed by 1g of gold and make use proof of asset consensus.
  2. Maker: Platform of the Stablecoin DAI that doesn't vary much in price through widespread and smart diversification of assets.
  3. USDT: is no cryptocurrency really, but a replacement for dollar for trading After months of asking for proof of dollar backing, still no response from Tether.
EDIT: Added a risk factor from 0 to 10. Significant scandals, mishaps, shady practices, questionable technology, increase the risk factor. Not having a product yet automatically means a risk factor of 6. Strong adoption and thus strong scrutiny or positive community lower the risk factor.
EDIT2: Added a subjective potential factor from 0 to 10, where its overall potential and a small or big market cap is factored in. Bitcoin with lots of potential only gets a 9, because of its massive market cap, because if Bitcoin goes 10x, smaller coins go 100x.
submitted by galan77 to ethtrader [link] [comments]

The Great Bitcoin Bull Market Of 2017 by Trace Mayer

By: Trace Mayer, host of The Bitcoin Knowledge Podcast.
Originally posted here with images and Youtube videos.
I just got back from a two week vacation without Internet as I was scouring some archeological ruins. I hardly thought about Bitcoin at all because there were so many other interesting things and it would be there when I got back.
Jimmy Song suggested I do an article on the current state of Bitcoin. A great suggestion but he is really smart (he worked on Armory after all!) so I better be thorough and accurate!
Therefore, this article will be pretty lengthy and meticulous.
BACKGROUND
As I completely expected, the 2X movement from the New York Agreement that was supposed to happen during the middle of my vacation flopped on its face because Jeff Garzik was driving the clown car with passengers willfully inside like Coinbase, Blockchain.info, Bitgo and Xapo and there were here massive bugS and in the code and miners like Bitmain did not want to allocate $150-350m to get it over the difficulty adjustments.
I am very disappointed in their lack of integrity with putting their money where their mouths are; myself and many others wanted to sell a lot of B2X for BTC!
On 7 December 2015, with Bitcoin trading at US$388.40, I wrote The Rise of the Fourth Great Bitcoin Bubble. On 4 December 2016, with Bitcoin trading at US$762.97, I did this interview:

As of 26 November 2017, Bitcoin is trading around US$9,250.00. That is an increase of about 2,400% since I wrote the article prognosticating this fourth great Bitcoin bull market. I sure like being right, like usual (19 Dec 2011, 1 Jul 2013), especially when there are financial and economic consequences.
With such massive gains in such a short period of time the speculative question becomes: Buy, Hold or Sell?
FUNDAMENTALS
Bitcoin is the decentralized censorship-resistant Internet Protocol for transferring value over a communications channel.
The Bitcoin network can use traditional Internet infrastructure. However, it is even more resilient because it has custom infrastructure including, thanks to Bitcoin Core developer Matt Corrallo, the FIBRE network and, thanks to Blockstream, satellites which reduce the cost of running a full-node anywhere in the world to essentially nothing in terms of money or privacy. Transactions can be cheaply broadcast via SMS messages.
SECURITY
The Bitcoin network has a difficulty of 1,347,001,430,559 which suggests about 9,642,211 TH/s of custom ASIC hardware deployed.
At a retail price of approximately US$105/THs that implies about $650m of custom ASIC hardware deployed (35% discount applied).
This custom hardware consumes approximately 30 TWh per year. That could power about 2.8m US households or the entire country of Morocco which has a population of 33.85m.
This Bitcoin mining generates approximately 12.5 bitcoins every 10 minutes or approximately 1,800 per day worth approximately US$16,650,000.
Bitcoin currently has a market capitalization greater than $150B which puts it solidly in the top-30 of M1 money stock countries and a 200 day moving average of about $65B which is increasing about $500m per day.
Average daily volumes for Bitcoin is around US$5B. That means multi-million dollar positions can be moved into and out of very easily with minimal slippage.
When my friend Andreas Antonopolous was unable to give his talk at a CRYPSA event I was invited to fill in and delivered this presentation, impromptu, on the Seven Network Effects of Bitcoin.
These seven network effects of Bitcoin are (1) Speculation, (2) Merchants, (3) Consumers, (4) Security [miners], (5) Developers, (6) Financialization and (7) Settlement Currency are all taking root at the same time and in an incredibly intertwined way.
With only the first network effect starting to take significant root; Bitcoin is no longer a little experiment of magic Internet money anymore. Bitcoin is monster growing at a tremendous rate!!

SPECULATION
For the Bitcoin price to remain at $9,250 it requires approximately US$16,650,000 per day of capital inflow from new hodlers.
Bitcoin is both a Giffen good and a Veblen good.
A Giffen good is a product that people consume more of as the price rises and vice versa — seemingly in violation of basic laws of demand in microeconomics such as with substitute goods and the income effect.
Veblen goods are types of luxury goods for which the quantity demanded increases as the price increases in an apparent contradiction of the law of demand.
There are approximately 16.5m bitcoins of which ~4m are lost, ~4-6m are in deep cold storage, ~4m are in cold storage and ~2-4m are salable.
(http://www.runtogold.com/images/lost-bitcoins-1.jpg)
(http://www.runtogold.com/images/lost-bitcoins-2.jpg)
And forks like BCash (BCH) should not be scary but instead be looked upon as an opportunity to take more territory on the Bitcoin blockchain by trading the forks for real bitcoins which dries up more salable supply by moving it, likely, into deep cold storage.
According to Wikipedia, there are approximately 15.4m millionaires in the United States and about 12m HNWIs ($30m+ net worth) in the world. In other words, if every HNWI in the world wanted to own an entire bitcoin as a 'risk-free asset' that cannot be confiscated, seized or have the balance other wise altered then they could not.
For wise portfolio management, these HNWIs should have at least about 2-5% in gold and 0.5-1% in bitcoin.
Why? Perhaps some of the 60+ Saudis with 1,700 frozen bank accounts and about $800B of assets being targetted might be able to explain it to you.
In other words, everyone loves to chase the rabbit and once they catch it then know that it will not get away.
RETAIL
There are approximately 150+ significant Bitcoin exchanges worldwide. Kraken, according to the CEO, was adding about 6,000 new funded accounts per day in July 2017.
Supposedly, Coinbase is currently adding about 75,000 new accounts per day. Based on some trade secret analytics I have access to; I would estimate Coinbase is adding approximately 17,500 new accounts per day that purchase at least US$100 of Bitcoin.
If we assume Coinbase accounts for 8% of new global Bitcoin users who purchase at least $100 of bitcoins (just pulled out of thin error and likely very conservative as the actual number is perhaps around 2%) then that is approximately $21,875,000 of new capital coming into Bitcoin every single day just from retail demand from 218,750 total new accounts.
What I have found is that most new users start off buying US$100-500 and then after 3-4 months months they ramp up their capital allocation to $5,000+ if they have the funds available.
After all, it takes some time and practical experience to learn how to safely secure one's private keys.
To do so, I highly recommend Bitcoin Core (network consensus and full validation of the blockchain), Armory (private key management), Glacier Protocol (operational procedures) and a Puri.sm laptop (secure non-specialized hardware).
WALL STREET
There has been no solution for large financial fiduciaries to invest in Bitcoin. This changed November 2017.
LedgerX, whose CEO I interviewed 23 March 2013, began trading as a CFTC regulated Swap Execution Facility and Derivatives Clearing Organization.
The CME Group announced they will begin trading in Q4 2017 Bitcoin futures.
The CBOE announced they will begin trading Bitcoin futures soon.
By analogy, these institutional products are like connecting a major metropolis's water system (US$90.4T and US$2 quadrillion) via a nanoscopic shunt to a tiny blueberry ($150B) that is infinitely expandable.
This price discovery could be the most wild thing anyone has ever experienced in financial markets.
THE GREAT CREDIT CONTRACTION
The same week Bitcoin was released I published my book The Great Credit Contraction and asserted it had now begun and capital would burrow down the liquidity pyramid into safer and more liquid assets.
(http://www.runtogold.com/images/Great-Credit-Contraction-Liquidity-Pyramid.jpg)
Thus, the critical question becomes: Is Bitcoin a possible solution to the Great Credit Contraction by becoming the safest and most liquid asset?
BITCOIN'S RISK PROFILE
At all times and in all circumstances gold remains money but, of course, there is always exchange rate risk due to price ratios constantly fluctuating. If the metal is held with a third-party in allocated-allocated storage (safest possible) then there is performance risk (Morgan Stanley gold storage lawsuit).
But, if properly held then, there should be no counter-party risk which requires the financial ability of a third-party to perform like with a bank account deposit. And, since gold exists at a single point in space and time therefore it is subject to confiscation or seizure risk.
Bitcoin is a completely new asset type. As such, the storage container is nearly empty with only $150B.
And every Bitcoin transaction effectively melts down every BTC and recasts it; thus ensuring with 100% accuracy the quantity and quality of the bitcoins. If the transaction is not on the blockchain then it did not happen. This is the strictest regulation possible; by math and cryptography!
This new immutable asset, if properly secured, is subject only to exchange rate risk. There does exist the possibility that a software bug may exist that could shut down the network, like what has happened with Ethereum, but the probability is almost nil and getting lower everyday it does not happen.
Thus, Bitcoin arguably has a lower risk profile than even gold and is the only blockchain to achieve security, scalability and liquidity.
To remain decentralized, censorship-resistant and immutable requires scalability so as many users as possible can run full-nodes.
(http://www.runtogold.com/images/ethereum-bitcoin-scability-nov-2017.png)
TRANSACTIONS
Some people, probably mostly those shilling alt-coins, think Bitcoin has a scalability problem that is so serious it requires a crude hard fork to solve.
On the other side of the debate, the Internet protocol and blockchain geniuses assert the scalability issues can, like other Internet Protocols have done, be solved in different layers which are now possible because of Segregated Witness which was activated in August 2017.
Whose code do you want to run: the JV benchwarmers or the championship Chicago Bulls?
As transaction fees rise, certain use cases of the Bitcoin blockchain are priced out of the market. And as the fees fall then they are economical again.
Additionally, as transaction fees rise, certain UTXOs are no longer economically usable thus destroying part of the money supply until fees decline and UTXOs become economical to move.
There are approximately 275,000-350,000 transactions per day with transaction fees currently about $2m/day and the 200 DMA is around $1.08m/day.
(http://www.runtogold.com/images/bitcoin-transaction-fees-nov-2017.png)
What I like about transaction fees is that they somewhat reveal the financial health of the network.
The security of the Bitcoin network results from the miners creating solutions to proof of work problems in the Bitcoin protocol and being rewarded from the (1) coinbase reward which is a form of inflation and (2) transaction fees which is a form of usage fee.
The higher the transaction fees then the greater implied value the Bitcoin network provides because users are willing to pay more for it.
I am highly skeptical of blockchains which have very low transaction fees. By Internet bubble analogy, Pets.com may have millions of page views but I am more interested in EBITDA.
DEVELOPERS
Bitcoin and blockchain programming is not an easy skill to acquire and master. Most developers who have the skill are also financially independent now and can work on whatever they want.
The best of the best work through the Bitcoin Core process. After all, if you are a world class mountain climber then you do not hang out in the MacDonalds play pen but instead climb Mount Everest because that is where the challenge is.
However, there are many talented developers who work in other areas besides the protocol. Wallet maintainers, exchange operators, payment processors, etc. all need competent developers to help build their businesses.
Consequently, there is a huge shortage of competent developers. This is probably the largest single scalability constraint for the ecosystem.
Nevertheless, the Bitcoin ecosystem is healthier than ever before.
(http://www.runtogold.com/images/bitcoin-ecosystem.jpg)(/images/bitcoin-ecosystem-small.jpg)
SETTLEMENT CURRENCY
There are no significant global reserve settlement currency use cases for Bitcoin yet.
Perhaps the closest is Blockstream's Strong Federations via Liquid.
PRICE
There is a tremendous amount of disagreement in the marketplace about the value proposition of Bitcoin. Price discovery for this asset will be intense and likely take many cycles of which this is the fourth.
Since the supply is known the exchange rate of Bitcoins is composed of (1) transactional demand and (2) speculative demand.
Interestingly, the price elasticity of demand for the transactional demand component is irrelevant to the price. This makes for very interesting dynamics!
(http://www.runtogold.com/images/bitcoin-speculation.jpg)
On 4 May 2017, Lightspeed Venture Partners partner Jeremy Liew who was among the early Facebook investors and the first Snapchat investor laid out their case for bitcoin exploding to $500,000 by 2030.
On 2 November 2017, Goldman Sachs CEO Lloyd Blankfein (https://www.bloomberg.com/news/articles/2017-11-02/blankfein-says-don-t-dismiss-bitcoin-while-still-pondering-value)said, "Now we have paper that is just backed by fiat...Maybe in the new world, something gets backed by consensus."
On 12 Sep 2017, JP Morgan CEO called Bitcoin a 'fraud' but conceded that "(http://fortune.com/2017/09/12/jamie-dimon-bitcoin-cryptocurrency-fraud-buy/)Bitcoin could reach $100,000".
Thus, it is no surprise that the Bitcoin chart looks like a ferret on meth when there are such widely varying opinions on its value proposition.
I have been around this space for a long time. In my opinion, those who scoffed at the thought of $1 BTC, $10 BTC (Professor Bitcorn!), $100 BTC, $1,000 BTC are scoffing at $10,000 BTC and will scoff at $100,000 BTC, $1,000,000 BTC and even $10,000,000 BTC.
Interestingly, the people who understand it the best seem to think its financial dominance is destiny.
Meanwhile, those who understand it the least make emotionally charged, intellectually incoherent bearish arguments. A tremendous example of worldwide cognitive dissonance with regards to sound money, technology and the role or power of the State.
Consequently, I like looking at the 200 day moving average to filter out the daily noise and see the long-term trend.
(http://www.runtogold.com/images/bitcoin-price-200dma-nov-2017.png)
Well, that chart of the long-term trend is pretty obvious and hard to dispute. Bitcoin is in a massive secular bull market.
The 200 day moving average is around $4,001 and rising about $30 per day.
So, what do some proforma situations look like where Bitcoin may be undervalued, average valued and overvalued? No, these are not prognostications.
(http://www.runtogold.com/images/bitcoin-price-pro-forma.png)
Maybe Jamie Dimon is not so off his rocker after all with a $100,000 price prediction.
We are in a very unique period of human history where the collective globe is rethinking what money is and Bitcoin is in the ring battling for complete domination. Is or will it be fit for purpose?
As I have said many times before, if Bitcoin is fit for this purpose then this is the largest wealth transfer in the history of the world.
CONCLUSION
Well, this has been a brief analysis of where I think Bitcoin is at the end of November 2017.
The seven network effects are taking root extremely fast and exponentially reinforcing each other. The technological dominance of Bitcoin is unrivaled.
The world is rethinking what money is. Even CEOs of the largest banks and partners of the largest VC funds are honing in on Bitcoin's beacon.
While no one has a crystal ball; when I look in mine I see Bitcoin's future being very bright.
Currently, almost everyone who has bought Bitcoin and hodled is sitting on unrealized gains as measured in fiat currency. That is, after all, what uncharted territory with daily all-time highs do!
But perhaps there is a larger lesson to be learned here.
Riches are getting increasingly slippery because no one has a reliable defined tool to measure them with. Times like these require incredible amounts of humility and intelligence guided by macro instincts.
Perhaps everyone should start keeping books in three numéraires: USD, gold and Bitcoin.
Both gold and Bitcoin have never been worth nothing. But USD is a fiat currency and there are thousands of those in the fiat currency graveyard. How low can the world reserve currency go?
After all, what is the risk-free asset? And, whatever it is, in The Great Credit Contraction you want it!
What do you think? Disagree with some of my arguments or assertions? Please, eviscerate them on Twitter or in the comments!
submitted by bitcoinknowledge to Bitcoin [link] [comments]

Got a 0 on an assignment about Bitcoin for it not being "age appropriate!"

Hello people of Reddit. I'm an 8th grade student of a Cyber School. I am very familiar with Bitcoin. I maintain my parents' 2 KnCMiner Jupiters. I have also traded it at an exchange. I'd say I'm pretty familiar with the coin.
In my English class, about 2 weeks ago, I was told to make a "how-to" document on something I know how to do. So, I made it on Bitcoin mining. I spent a few hours working on it, making sure it was the best thing I had ever worked on. Finally, I submitted it. Then, I checked the grade the next day.
After a document is submitted, it will say "0%" next to it, until it's graded. So, I when I saw this, I thought, "oh well. Still hasn't been graded." But I clicked on it just to make sure it wasn't actually a 0. Well, it was. I was so confused. I wondered if I submitted the wrong document. Now, you can see what the teacher said about the document. She said it was not "age appropriate!" I then got mad. As I read on, she said, for an 8th grade student, I should write about "cleaning my room" or "washing the car." Well, then i got EXTREMELY mad. Something I had worked so hard on, given a 0% because I had not written about something a 3rd grader knows how to do.
Then came yesterday. We had to write a follow-up assignment on the topic we wrote about. So, I headed the document stating the truth that many kids my age mine Bitcoin with their computers, and that many of my friends want to know how to also. I submitted the document and waited. So, went back to check the grade and said "0%." I think you already know what's going to happen next. I checked it and, big surprise, I got a 0. This time, it was a bit different. She said she understands how I "feel" that it's age appropriate. Then she said what I got very, very, angry at. She stated that if I write about abortion, drugs, sexuality, or any other non age appropriate topic, that it will be automatically given a 0% grade. So, yeah. Bitcoin's like killing babies and being gay, I guess?
Tell me what you guys think about this. If you want, you can vote this up to spread the word. But thanks for reading this guys. :)
EDIT:
So, you guys wanted to see the document. Well, here it is:
How to Mine Bitcoin
Short on money? Want to make some extra dough for the holiday season? Try Bitcoin! Bitcoin is an online digital currency. Right now, 1 Bitcoin is worth $640! But, did you know that you can create these coins, and help the network at the same time? This is a process called “mining,” and you can do it too! You're only going to need a few things for this. Firstly, I recommend not trying to mine with your home computer. You need a somewhat expensive machine called an ASIC. ASIC stands for application specific integrated circuit. This is just fancy talk for a very power computer that can only mine Bitcoin. Now, these range anywhere from $15 to $25,000, but I have a recommendation for you. It's called a KnCMiner Jupiter, and it's very fast. They're only $5K, which may seem expensive at first, but you can mine about half a Bitcoin PER DAY! That's over $300! You're also going to need a power supply. I recommend a Cooler Master V850. That's what I use. Next, you need an Ethernet cable, plugged into the router and miner. Finally you need a Bitcoin wallet. It can be on your computer or from blockchain.info. Get your address, beginning with a 1, ready! Now comes mining. First, find the miner's IP address. Go to your router's homepage – which is normally 192.168.1.1 – and look for something like “Connected Devices.” Then, it should be labeled “Jupiter” and then some numbers. Then go to the address that it says it is. This may be 192.168.1.145, or something like that. Now, it will say to log in. Log in with the username and password “admin.” This should bring a page up with numbers. You're done with that. Now, go to the mining tab. For the pool, use “mining.stratum.eligius.st:3334” without the quotes. Then, for the user, put your Bitcoin address. For the password field, put a simple “x.” It can be anything, but x is simple to remember. The pool could go down at any time, so be prepared! Get an account at btcguild.com, and make a worker. It shows this on the site. Then connect the miner using the stratum address. Also, be prepared for your earnings to slowly go down. There is a new difficulty every week, which it means it's harder to get a coin. But, don't worry! The price is going up. 2 years ago, it was worth $6! It's gone up over 100x since then! Also, that's the other thing. The price may crash. If it does, don't fret! The price will be back up over that in no time! One more thing before this ends. Bitcoin is NOT illegal. Nor is mining. The US government actually has no problem if you use Bitcoin, as long as you use it legally. There are multiple sites that you can buy contraband, like drugs and guns. Stay away from these sites! In conclusion, Bitcoin is an amazing thing. I mine it myself with a KnCMiner Jupiter. There may be some risks, but they're like any job. I've actually paid off the miner in less than 1 month! So, Bitcoin can really help our economy. It can help the WORLD economy! 
Also, thanks guys for all the support! :)
EDIT #2:
"A" Cyber School is just like homeschool. I stay at home and do my work on the computer. The only contact with teachers is situations like this. When I have an assignment to submit.
EDIT #3:
I am not saying being gay and abortion are bad. If anything, some of my best friends are gay. I'm putting this in words that she would use. Not mine.
EDIT #4 A.K.A. THE PROOF
Well, you guys think it's fake. I edited the files down so it wouldn't reveal any personal info of the teacher or myself. Here you go:
http://imgur.com/a/SdlUg
submitted by Inception1337 to Bitcoin [link] [comments]

Dash In 2018: Disappointments, Boondoggles, Scandals, Disasters, & Catastrophes

[The original post was censored in the the paidshill Dash pumping sub Dashpay, where actual discussion beyond "2018 kind of sucked for Dash" is not allowed.] ​
Disappointments
In 2018, Dash failed to be listed on Coinbase while ETC and many other coins were, due to Dash's notorious Instamine, centralized development, and murky Howey Test/SEC Action status.
In 2018, Dash failed be included in the OpenBazaar project, while Monero and several other alts were added.
In 2018, efforts to hype Dash's supposedly impressive 2mb block-based tx/sec rate were crushed and humiliated when DCG's creaky old client hit a crippling software limitation around the same time as BCH and BSV were chewing through 32 and 64 megabyte blocks.
In 2018, Dash's former anti-segwit hero Craig Wright learned new facts about law and concluded Dash is an illegal security, saying so loudly in tweets backed by citations.
In 2018, Wirex and other debit card providers supported Bitcoin and many alts, but not Dash, despite a year of Shrem 2.0 shill talk about integrations 'soon'.
In 2018, Dash Core used Uphold for the "Acquire Dash" part of their Kript mobile plan, but Uphold doesn't work in Venezuela , so that pillar of their strategy was broken.

Boondoggles
In 2018, the FanDuel fiasco wasted a fortune in cash and goodwill, leaving Dash's target market of online gambling to Calvin Ayre's BSV and Roger Ver's BCH blockchains.
In 2018, the DACH Embassy fiasco wasted a fortune in cash and goodwill, as nobody ever really cared about Macrocuck/Simon/Basilpop/Ezra/Fabio running around desperately trying to look busy enough to justify their ridiculous burn rate and poor results.
In 2018, the CoPay fiasco wasted a fortune in cash and goodwill as users and devs suffered an ambush from DCG, leaving the formerly hyped "backbone of Evolution" project instantly retired to abandonware status.
In 2018, the Alt36 train-wreck-in-progress slowly lurched towards its imminent conclusion of causing more toxic FUD and wasting a fortune in cash and goodwill with zero deliverables to show for it.

Scandals
In 2018, fake "Venezuela adoption" news resulted in massive public humiliation as Twitter, cc, and Russia Today (ironically, the home of Dash paidshill Max Keiser) debunked hype that only amounted to useless stickers on greasy cash registers.
In 2018, Evan and Amanda were missing in action, despite Evan's previous promises to develop hardware and support the ecosystem with his vast, intentionally insta-mined fortune.
In 2018, Dash paid to hold a Bitcoin networking event at a Miami strip club, offending so many people (it was a 2nd offence for Dash with strippers at TNABC) the scandal was reported worldwide by Bloomberg, Fortue, Business Insider, etc.
In 2018, knowledge of Dash's instamine became widespread throughout the entire crypto universe and the intentional nature of Evan's faked "bug" excuse became a subject of investigation.
In 2018, Dash cargo cultists reduced themselves to shilling the dwindling number of cherry-picked metrics by which Dash was not failing utterly, such as the absurd "FairCoinValue" and fallacious/irrelevant "ATH Masternode Count" hype.
In 2018, the KuvaCash fiasco turned toxic (wasting a fortune in cash and goodwill) resulting in a kDAO splinter group of venture capitalist MNOs and creating massive Howey Test implications.

Disasters
In 2018, a KuvaNation vs. DACH Force News civil war inflicted mass casualties, leaving a permanent split of the "DGBB" community into non-cooperative Team Tao and Team Joel factions fighting over a shrinking Treasury budget like starving rats.
In 2018, malicious MNOs trolled Dash at the protocol level and on DashCentral, causing chaos at the very end of voting cycles, thus showing the entire world Dash is not resistant to Sybil attack after all.
In 2018, Dash Clown Group Inc failed to live up to its own self-imposed "Agile Development" goals so many times they published one sketchy, final "DRAFT" roadmap, and then quietly abandoned entirely the idea of actually trying to meet deadlines (despite the dash.org page still advertising a Q4 2018 Alpha release).

Catastrophes
In 2018, a single mining pool controlled enough hashpower to prevent a timely upgrade, demonstrating that Dash's PoW is not sufficiently decentralized (due to Bitmain's monopoly on Dash ASICs).
In 2018, www.crypto51.app showed the world Dash is >90% NiceHash-able and thus may be 51% attacked easily and cheaply (<1 BTC per hour), causing Poloniex and other exchanges to require 50 confirmations (rather than using InsantSend).
In 2018, the failures of Dash's X11-based PoW security model and resulting threat of attacks caused Dash to abandon Nakamoto Consensus for a wonky, untested, homespun version of checkpoints (conceding defeat and offering an unconditional "pre-consensus" surrender before an attack even happened).
In 2018, Evolution was not here by NYE (not even an alpha version of a testnet).
In 2018, no amount of brave ThisIsFine talk about buying dips could change the fact that Dash Core Group Inc had to radically downsize due to their customary $935k/month funding being completely unsupportable.

Analysis
Never mind the price drop, even though Dash suffered worse than most of its Top 20 peers and fell in rank from #3 all the way down to #16.
Let's ignore the fact Dash is marketed to investors with the 'Masternode' feature advertised as supposedly stabilizing the price.
Let's also ignore the fact that in 2018 Dash's supposed Sybil-resistance was shown to be inadequate, as blockchain analysis revealed dozens of Masternodes trolling at the protocol level by voting no on all but the infamous DEMOTE RYAN TAYLOR proposal.
Evolution was, after years of delays, complete from-scratch reboots, and blown goals, given one final self-imposed deadline to meet.
Dash's Queen, Amanda of the Used Car Lot, declared she was going have to rethink her position regarding Duff's Instamined Masternode tokens if that deadline wasn't met.
That deadline was midnight Dec 31, 2018.
Now it's the first morning of 2019 and Evolution is nowhere to be seen.
Even worse, Dash Clown Inc is once again making negative progress towards their goals of shipping a test-net version of v13 worth of the term "Release Candidate."
Dash Clown Inc burned through ten (10) un-releasable (because broken) so-called Release Candidates.
Finally the clueless clowns (running around like headless chickens since Andy Freer was fired or rage-quit) gave up on the entire v13 RC branch and went back to tinkering with v12.
No updates to the crucial LLMQ repo have been made since November, when the price drop crushed DCG's budget and Andy suddenly left Evolution to die on the operating table.

Dash in 2018 through the eyes of Reddit's most popular crypto sub
January 2018
Congratulations: Dash out of top 10
https://np.reddit.com/CryptoCurrency/comments/7oq515/congratulations_dash_out_of_top_10/
One of the most prolific scam coins has been beaten out of the top 10 once and for all. For this we can all be grateful.
Evidence for all your downvoters:
https://www.youtube.com/watch?v=xBxbiH_Mg44
https://medium.com/@omiros23/evans-and-dash-s-scam-story-add1f16528ae
https://steemit.com/cryptocurrency/@thedashguy/the-reason-i-call-dash-a-scam-and-echo-chamber-proof-of-the-crazed-cult-like-thinking-of-dash-community-inside
Today is a good day.
Best comment: "replaced by Tron... oh the irony".

December 2018
KFC Venezuela denies accepting dash as a form of payment
https://np.reddit.com/CryptoCurrency/comments/a56a4e/kfc_venezuela_denies_accepting_dash_as_a_form_of/
** Hi guys, check this news
https://translate.google.com/translate?hl=es&sl=es&tl=en&u=https%3A%2F%2Fwww.criptonoticias.com%2Fsucesos%2Fkfc-venezuela-desmiente-acepte-dash-como-forma-pago%2F
https://www.forbes.com/sites/rebeccacampbell1/2018/12/07/discussions-in-place-for-dash-to-be-accepted-at-kfc-venezuela/#18baf92c5d38
https://twitter.com/dashmerchant/status/1072327769068052481
Top comment: "Yeah, more bullshit from Dash."

**December 24
Dash doesn't actually look like it is being utilised by Venezuelans. Have a look.
https://np.reddit.com/CryptoCurrency/comments/a96i3y/dash_doesnt_actually_look_like_it_is_being/
https://youtu.be/4tKvqj3U3O0
Most controversial comment: "I dont see how people dont get it. If you cant pay for food, you would invest what little you have into something as risky as crypto ? It is easy to judge from our POV but In reality, most would rather feed their familiy then look for ways to invest in some startup."

Conclusion
The Top Three Dash-related posts at cryptocurrency are a microcosm of Dash's start-to-finish miserable, horrible, terrible year of self-inflicted blunders, money pits, and epoch-ending cataclysms cumulating in the resolution of the Dash experiment and disproving Evan's "Dash is Digital Cash" hypothesis.
Note: The repost is shared here. The original has been censored from Dashpay. https://np.reddit.com/DashUncensored/comments/abvewf/dash_in_2018_disappointments_boondoggles_scandals/
[Dash is such a terrible scam that it needs its own uncensored sub to discuss happenings without incurring the wrath of the MNO and the Dash ponzi leadership/Evan/Amanda. I honestly believe crypto must weed out these ponzi like operations before we can move forward as a collective group]

submitted by tellmesay to CryptoCurrency [link] [comments]

Decred Journal – August 2018

Note: you can read this on GitHub (link), Medium (link) or old Reddit (link) to see all the links.

Development

dcrd: Version 1.3.0 RC1 (Release Candidate 1) is out! The main features of this release are significant performance improvements, including some that benefit SPV clients. Full release notes and downloads are on GitHub.
The default minimum transaction fee rate was reduced from 0.001 to 0.0001 DCkB. Do not try to send such small fee transactions just yet, until the majority of the network upgrades.
Release process was changed to use release branches and bump version on the master branch at the beginning of a release cycle. Discussed in this chat.
The codebase is ready for the new Go 1.11 version. Migration to vgo module system is complete and the 1.4.0 release will be built using modules. The list of versioned modules and a hierarchy diagram are available here.
The testnet was reset and bumped to version 3.
Comments are welcome for the proposal to implement smart fee estimation, which is important for Lightning Network.
@matheusd recorded a code review video for new Decred developers that explains how tickets are selected for voting.
dcrwallet: Version 1.3.0 RC1 features new SPV sync mode, new ticket buyer, new APIs for Decrediton and a host of bug fixes. On the dev side, dcrwallet also migrated to the new module system.
Decrediton: Version 1.3.0 RC1 adds the new SPV sync mode that syncs roughly 5x faster. The feature is off by default while it receives more testing from experienced users. Other notable changes include a design polish and experimental Politeia integration.
Politeia: Proposal editing is being developed and has a short demo. This will allow proposal owners to edit their proposal in response to community feedback before voting begins. The challenges associated with this feature relate to updating censorship tokens and maintaining a clear history of which version comments were made on. @fernandoabolafio produced this architecture diagram which may be of interest to developers.
@degeri joined to perform security testing of Politeia and found several issues.
dcrdata: mainnet explorer upgraded to v2.1 with several new features. For users: credit/debit tx filter on address page, showing miner fees on coinbase transaction page, estimate yearly ticket rewards on main page, cool new hamburger menu and keyboard navigation. For developers: new chain parameters page, experimental Insight API support, endpoints for coin supply and block rewards, testnet3 support. Lots of minor API changes and frontend tweaks, many bug fixes and robustness improvements.
The upcoming v3.0 entered beta and is deployed on beta.dcrdata.org. Check out the new charts page. Feedback and bug reports are appreciated. Finally, the development version v3.1.0-pre is on alpha.dcrdata.org.
Android: updated to be compatible with the latest SPV code and is syncing, several performance issues are worked on. Details were posted in chat. Alpha testing has started, to participate please join #dev and ask for the APK.
iOS: backend is mostly complete, as well as the front end. Support for devices with smaller screens was improved. What works now: creating and recovering wallets, listing of transactions, receiving DCR, displaying and scanning QR codes, browsing account information, SPV connection to peers, downloading headers. Some bugs need fixing before making testable builds.
Ticket splitting: v0.6.0 beta released with improved fee calculation and multiple bug fixes.
docs: introduced new Governance section that grouped some old articles as well as the new Politeia page.
@Richard-Red created a concept repository sandbox with policy documents, to illustrate the kind of policies that could be approved and amended by Politeia proposals.
decred.org: 8 contributors added and 4 removed, including 2 advisors (discussion here).
decredmarketcap.com is a brand new website that shows the most accurate DCR market data. Clean design, mobile friendly, no javascript required.
Dev activity stats for August: 239 active PRs, 219 commits, 25k added and 11k deleted lines spread across 8 repositories. Contributions came from 2-10 developers per repository. (chart)

Network

Hashrate: went from 54 to 76 PH/s, the low was 50 and the new all-time high is 100 PH/s. BeePool share rose to ~50% while F2Pool shrank to 30%, followed by coinmine.pl at 5% and Luxor at 3%.
Staking: 30-day average ticket price is 95.6 DCR (+3.0) as of Sep 3. During the month, ticket price fluctuated between a low of 92.2 and high of 100.5 DCR. Locked DCR represented between 3.8 and 3.9 million or 46.3-46.9% of the supply.
Nodes: there are 217 public listening and 281 normal nodes per dcred.eu. Version distribution: 2% at v1.4.0(pre) (dev builds), 5% on v1.3.0 (RC1), 62% on v1.2.0 (-5%), 22% on v1.1.2 (-2%), 6% on v1.1.0 (-1%). Almost 69% of nodes are v.1.2.0 and higher and support client filters. Data snapshot of Aug 31.

ASICs

Obelisk posted 3 email updates in August. DCR1 units are reportedly shipping with 1 TH/s hashrate and will be upgraded with firmware to 1.5 TH/s. Batch 1 customers will receive compensation for missed shipment dates, but only after Batch 5 ships. Batch 2-5 customers will be receiving the updated slim design.
Innosilicon announced the new D9+ DecredMaster: 2.8 TH/s at 1,230 W priced $1,499. Specified shipping date was Aug 10-15.
FFMiner DS19 claims 3.1 TH/s for Blake256R14 at 680 W and simultaneously 1.55 TH/s for Blake2B at 410 W, the price is $1,299. Shipping Aug 20-25.
Another newly noticed miner offer is this unit that does 46 TH/s at 2,150 W at the price of $4,720. It is shipping Nov 2018 and the stats look very close to Pangolin Whatsminer DCR (which has now a page on asicminervalue).

Integrations

www.d1pool.com joined the list of stakepools for a total of 16.
Australian CoinTree added DCR trading. The platform supports fiat, there are some limitations during the upgrade to a new system but also no fees in the "Early access mode". On a related note, CoinTree is working on a feature to pay household bills with cryptocurrencies it supports.
Three new OTC desks were added to exchanges page at decred.org.
Two mobile wallets integrated Decred:
Reminder: do your best to understand the security and privacy model before using any wallet software. Points to consider: who controls the seed, does the wallet talk to the nodes directly or via middlemen, is it open source or not?

Adoption

Merchants:

Marketing

Targeted advertising report for August was posted by @timhebel. Facebook appeal is pending, some Google and Twitter campaigns were paused and some updated. Read more here.
Contribution to the @decredproject Twitter account has evolved over the past few months. A #twitter_ops channel is being used on Matrix to collaboratively draft and execute project account tweets (including retweets). Anyone with an interest in contributing to the Twitter account can ask for an invitation to the channel and can start contributing content and ideas there for evaluation by the Twitter group. As a result, no minority or unilateral veto over tweets is possible. (from GitHub)

Events

Attended:
For those willing to help with the events:
BAB: Hey all, we are gearing up for conference season. I have a list of places we hope to attend but need to know who besides @joshuam and @Haon are willing to do public speaking, willing to work booths, or help out at them? You will need to be well versed on not just what is Decred, but the history of Decred etc... DM me if you are interested. (#event_planning)
The Decred project is looking for ambassadors. If you are looking for a fun cryptocurrency to get involved in send me a DM or come talk to me on Decred slack. (@marco_peereboom, longer version here)

Media

Decred Assembly episode 21 is available. @jy-p and lead dcrwallet developer @jrick discussed SPV from Satoshi's whitepaper, how it can be improved upon and what's coming in Decred.
Decred Assembly episodes 1-21 are available in audio only format here.
New instructional articles on stakey.club: Decrediton setup, Deleting the wallet, Installing Go, Installing dcrd, dcrd as a Linux service. Available in both English and Portuguese.
Decred scored #32 in the August issue of Chinese CCID ratings. The evaluation model was explained in this interview.
Satis Group rated Decred highly in their cryptoasset valuation research report (PDF). This was featured by several large media outlets, but some did not link to or omitted Decred entirely, citing low market cap.
Featured articles:
Articles:
Videos:

Community Discussions

Community stats:
Comm systems news:
After another debate about chat systems more people began testing and using Matrix, leading to some gardening on that platform:
Highlights:
Reddit: substantive discussion about Decred cons; ecosystem fund; a thread about voter engagement, Politeia UX and trolling; idea of a social media system for Decred by @michae2xl; how profitable is the Obelisk DCR1.
Chats: cross-chain trading via LN; plans for contractor management system, lower-level decision making and contractor privacy vs transparency for stakeholders; measuring dev activity; what if the network stalls, multiple implementations of Decred for more resilience, long term vision behind those extensive tests and accurate comments in the codebase; ideas for process for policy documents, hosting them in Pi and approving with ticket voting; about SPV wallet disk size, how compact filters work; odds of a wallet fetching a wrong block in SPV; new module system in Go; security of allowing Android app backups; why PoW algo change proposal must be specified in great detail; thoughts about NIPoPoWs and SPV; prerequisites for shipping SPV by default (continued); Decred vs Dash treasury and marketing expenses, spending other people's money; why Decred should not invade a country, DAO and nation states, entangling with nation state is poor resource allocation; how winning tickets are determined and attack vectors; Politeia proposal moderation, contractor clearance, the scale of proposals and decision delegation, initial Politeia vote to approve Politeia itself; chat systems, Matrix/Slack/Discord/RocketChat/Keybase (continued); overview of Korean exchanges; no breaking changes in vgo; why project fund burn rate must keep low; asymptotic behavior of Decred and other ccs, tail emission; count of full nodes and incentives to run them; Politeia proposal translations and multilingual environment.
An unusual event was the chat about double negatives and other oddities in languages in #trading.

Markets

DCR started the month at USD 56 / BTC 0.0073 and had a two week decline. On Aug 14 the whole market took a huge drop and briefly went below USD 200 billion. Bitcoin went below USD 6,000 and top 100 cryptos lost 5-30%. The lowest point coincided with Bitcoin dominance peak at 54.5%. On that day Decred dived -17% and reached the bottom of USD 32 / BTC 0.00537. Since then it went sideways in the USD 35-45 / BTC 0.0054-0.0064 range. Around Aug 24, Huobi showed DCR trading volume above USD 5M and this coincided with a minor recovery.
@ImacallyouJawdy posted some creative analysis based on ticket data.

Relevant External

StopAndDecrypt published an extensive article "ASIC Resistance is Nothing but a Blockchain Buzzword" that is much in line with Decred's stance on ASICs.
The ongoing debates about the possible Sia fork yet again demonstrate the importance of a robust dispute resolution mechanism. Also, we are lucky to have the treasury.
Mark B Lundeberg, who found a vulnerability in atomicswap earlier, published a concept of more private peer-to-peer atomic swaps. (missed in July issue)
Medium took a cautious stance on cryptocurrencies and triggered at least one project to migrate to Ghost (that same project previously migrated away from Slack).
Regulation: Vietnam bans mining equipment imports, China halts crypto events and tightens control of crypto chat groups.
Reddit was hacked by intercepting 2FA codes sent via SMS. The announcement explains the impact. Yet another data breach suggests to think twice before sharing any data with any company and shift to more secure authentication systems.
Intel and x86 dumpsterfire keeps burning brighter. Seek more secure hardware and operating systems for your coins.
Finally, unrelated to Decred but good for a laugh: yetanotherico.com.

About This Issue

This is the 5th issue of Decred Journal. It is mirrored on GitHub, Medium and Reddit. Past issues are available here.
Most information from third parties is relayed directly from source after a minimal sanity check. The authors of Decred Journal have no ability to verify all claims. Please beware of scams and do your own research.
Feedback is appreciated: please comment on Reddit, GitHub or #writers_room on Matrix or Slack.
Contributions are welcome too. Some areas are collecting content, pre-release review or translations to other languages. Check out @Richard-Red's guide how to contribute to Decred using GitHub without writing code.
Credits (Slack names, alphabetical order): bee, Haon, jazzah, Richard-Red and thedecreddigest.
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USB Bitcoin Miner - The Power of 1000's Computers - YouTube What’s the Best Bitcoin Miner to buy in 2020? - YouTube Inside a Bitcoin mine that earns $70K a day - YouTube $7000 ASIC Miner Mined $1000 Dollars in Bitcoin in a Month ... How to mine $1,000,000 of Bitcoin using just a laptop ...

Typical Bitcoin ASIC mining rig. The USB miner is clearly a low-power solution that’s limited by the USB port capability. Even at the 2.5-W maximum power supplied by the USB port, the heatsinked ... An ASIC can be thought of as a race car, which is very expensive to design and manufacture and very useful for competitive racing. However, it’s suboptimal for highway driving or once it gets off peak performance. It is neither a desktop PC nor a dedicated graphics card mining rig. It is something else. ASICs are chips designed with a singular purpose ranging from audio processing to manage ... Car CD Princess. Although investing in cryptocurrency is painstaking, costly, and only sporadically rewarding, some investors are drawn to it. People buy expensive ASICS and pay for lots of electricity so that they may earn more bitcoin, which may be exchanged for real-world currency.. An application-specific integrated circuit (ASIC) miner is a device that is designed for the sole purpose of ... Mining cryptocurrency is an intensive process. To be profitable, you need hardware designed specifically mining, like ASIC miners. Here's what makes them tick. If you’re really interested in high-end Bitcoin mining hardware, the very best ASIC chip you can buy right now is the Antminer S9 that has a Hash Rate of 14.0TH/s, but costs a whopping $4,000. If that’s too rich for your taste, you can get the Antminer R4 that costs $1,000, but has a significantly lower Hash Rate of 8.6 TH/s. Further down the pecking order you got the

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USB Bitcoin Miner - The Power of 1000's Computers - YouTube

A $2000 investment turned into me spending $100,000 dollars building a custom shed for cryptocurrency and Bitcoin mining. Here's the story of Drew Vosk and t... Articles and hashtags referenced:#bitcoin #bitcoins #bitcoinmining GET A Chance To WIN $100 BITCOIN EACH MONTH By 1. liking video! 2. SUBSCRIBE! 3. share! 4.... Cryptocurrency mining is still profitable, however, profitability with mining varies BIG TIME depending on your mining hardware used! Subscribe to VoskCoin -... What is the best bitcoin miner to buy in 2020? In this video, we’ll find out by comparing profitability as well as other factors. Mining bitcoin doesn’t have... WANT FREE STOCK FAST? CLICK LINK And CLICK "SIGN UP NOW"! 💲💲💲 http://join.robinhood.com/jareds7 ALL VIDEOS ARE ONLY REPRESENTATIVE OF MY OPINION. ONLY INVEST...

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